The Issue Of Risk Management - Free Essay Example

Sample details Pages: 15 Words: 4450 Downloads: 10 Date added: 2017/06/26 Category Statistics Essay Did you like this example? 1.1 Introduction Risk management is one of the subfields on nine knowledge area in project management. Risk management is about managing uncertainty that inherent in most projects that require formal project management, using à ¢Ã¢â€š ¬Ã‹Å"uncertainty in the plain English à ¢Ã¢â€š ¬Ã‹Å"lack of certainty sense. Don’t waste time! Our writers will create an original "The Issue Of Risk Management" essay for you Create order Risk management also refer to a series of processes which are required for the identification, analysis, and reaction towards the projects risk in order to maximize the effects of positive uncertainty even and minimize the consequences of negative uncertainty even. Risk management also been organise in developed countries. This due to the risk management is better applied in the developed countries. Comparing with other countries with various situations, Malaysia is a developing country which the politic, economy, social and technology have mad specific risks especially related. Unfortunately, in Malaysia, the management of risk is not so systematic and requires more research and development. Malaysia seems to be developing countries because the demand for founding infrastructures is highly increasing. Currently, the government is enforcing the development plan. National economic will be burden if the plan is falling behind. This means that it is important to recognise the risks that endanger the plan. A lot of budget was spent on investment in the construction industry. The application of risk management will result in taking correct, regulated, and prompt decision through being informed about the environment despite the complication and changes in the construction industries. 1.2 Problem Statement Knowing the environment and be capable in decision making in a prompt and correct manner is the key to success in managing todays challenge and risk imminent. In case of not recognise both internal and external risks factor of the project, the managerial decision-making error will take place. Moreover, it will cause problems in time and cost assessment forecasting. Through risk management, it can identify the risk generating factor and control or remove such risk factors through analyzing and choosing the suitable action. As one of the subfields in the nine knowledge area of project management, risk management is still being paid less attention in Malaysia. In very few organisations, employers or contractors can be seen who have a proper insight into risk management. There are no any practical guidelines to be properly implemented for risk management in this industry. Furthermore, as a result of lack of binding regulations, current regulations cannot force construction parties to undertake risk management. So, by adopting scientific approach to risk management, introducing its process and eventually its compliance with existing realities in development plans, particularly in project are a necessity. The issue of risk management was for the first time raised in mid-1990s in the United States. Laws and regulations for applying risk management in projects have now been adopted. Since risk management is a new field, except for several seminars and universities research project, applied research has not taken place in risk management in Malaysia. 1.3 Research Questions i. What kind of risks occurs in the construction projects and what are their factors? ii. What are the strategies that been applied in dealing with risk? 1.4 Research Objectives i. To identify risk factors in construction industry. ii. To identify strategies of risk management applied in construction industry. 1.5 Scope of Study This research is focuses on the implementation of risk management in the Malaysia construction industry. Therefore, the scope of this study is only limited in Pahang where respondents have been chosen randomly out of this area. Moreover, the respondents comprised of contractors registering in Grade 7. The reasons for being such is that the categorization of the grade of contractors reflect, to a great extent, the size of project that being executed in the company and the size of the company. Grade 7 of contractors is regarded as big companies with large-size projects. Depending on their size of project and their company, the risk that they encounter will differ. As a result of this, to make sure the data obtained could be reliable, its necessary to limit the respondents based on the size of project and company. 1.6 Expected Findings This research will achieve some precious advantages. First is to enhance the consciousness of different key personnel of project resulting in performing the project reliably while considering issues like risk management in general management project. To accomplish this, its essential to implement theoretical concepts mentioned in numerous literatures in reality. This can guarantee a well project management through attempting to prevent from normal issues in projects like poor quality of products, cost overrun, and delays. CHAPTER 2 LITERATURE REVIEW 2.1 Introduction Risk will bring effect on the project cost, time, and scope. This chapter covers the construction project risks. All the risks will be recognised and categories into a number of group. Then, the current trend in risk management researches would be considered. In order to meet the first objective, identification and classification the strategies used by the project manager used to avoid the risk in their project. The second objective will be fulfilling through identification and classification of risk factor in construction projects. 2.2 Definitions 2.2.1 Risk Risk is an uncertain event or condition that, if it occurs, it can bring a positive or negative effect on a project objective (PMBOOK, 2000). Risk also can be defined as an uncertain event or set of circumstances if it occur, it will give effect on the achievement of the projects objectives (APM, 1997). This definition is widely use and gather welcoming upside and unwelcome downside effects. This definition works in theory but fails in practice. In this study, the effect of risk in construction project is through the way of integrated method, namely size of consequences and probabilities of happening have been measured. In the construction project, there is a lot of risk in every phase. This is the norm of any project not only in construction project. Construction firms want to have projects at international level. In every construction project, risks are present. Risks in international construction projects are more critical as compared to domestic projects especially when developin g countries are involved. That is the reason risk is desirable for international construction firms who want to do construction projects in foreign country, to identify the risks as early as possible, so that suitable strategies can be made for the penetration in to the foreign construction market and to manage these risks before the actual execution of projects on international level. Risk consequences in construction projects may reach an undesirable level because of inadequate resources and lack of advancements in technologies, therefore a thorough awareness and identification of risks is essential to prepare suitable strategies. International construction projects have many risks involved due to the nature of their structure. There are more parties involved and more phases are present in international construction projects than a conventional construction project. Each party has its different objectives. This difference in the objectives of parties leads to conflict of interest which is a root cause of risks in international construction projects. 2.2.2 Risk Factor Construction project is divided into separate phases. At the end of each phase, appraisal can be made and assessment of risk involved in proceeding with the project. The management of risk therefore a continue process and should span all the phases of the project. Since project risks are dynamic, a risk assessment must be carried out at the end of each phase prior to proceeding to the next phase. In fact, active management of risk must continue between the review points until the project is complete. Risk can also change during a phase. The result is a complete re-appraisal may need to be performed. There is a generic acknowledgement that human factors are the most important element that affects the project success. According to (Lynch, 2002), human factors bring affect to project success. A series of errors by a steel contractor lead to a near miss at Canary Wharf when a two-tonne pre-cast staircase fell from a crane and landed on the ground metres from a crowded side office. It was reported that the stairs fell when the left side eyebolt lifting pin of the staircase lifting gear came free. The load was transfer to the right-hand bolt, causing it ti shear. The report confirmed that the eyebolt was not correctly inserted. Independent testing agency Lloyds British examined key parts of the lifting equipment and concludes that the equipment would be sufficient had it been assembled correctly. Shortfalls in the firms arrangement at the site were criticised. No risk assessment or method statement had been drawn up specifically for the lifting operation and key decision were left to operators who were not trained to use eyebolt. All these shortcomings fall in sphere of human factors as defined earlier. 2.2.2 Risk Management Risk management is widely use by the companies or organizations to ensure the control of risk in the business process. In this research, the simplest possible approach to describe the risk management process is chosen due to the context of the construction sector. According to (Norman, 1993) risk management is a system use to identify and quantify all risk to a business or project that is exposed so that conscious decision can be taken on the way to manage the risk. Risk management also been mention in the PMBOOK as one of the nine areas of project management and has been illustrated as the process concerned with conducting risk management planning, identification, analysis, responses, and monitoring, and control on a project. 2.2.3 Fundamentals of Risk Management There are a lot of risks in the construction projects, and there is no standard method that can explain about the risk management. According to (Telford, 1998) risk in construction industry is the existence of real or possible chances or dangers affecting projects objective while commissioning or operating the project. According to (J. Walewski, 2002) , risks can be categories into two parts. The first part is pure risk when there is the possibility of financial gain. The second part is speculative risk that includes the possibility of both gains and losses. 2.3 Risk Management Process Project Risk Management involves procedure considering executing risk management planning, identification, analysis, response and monitoring, and control on a project. This procedure can update the majority of the project. Project risk management aims to enhance the possibility and effect of positive event, and reduce the possibility and effect of negative incident to the project. According to the Project Management Body of Knowledge, (PMBOOK, A guide to the project management body of knowledge, 2004), the Project Risk Management Process 2.3.1 Risk Identification Risk identification has two types which are prescriptive and creative. These two types of risk identification has their own function but they must be cautiously handled in order to make sure the process of identifying risk is economic. The result in the utilization of checklists of standard risk distinguished to appear in a special context when there is an attempt to modify the risk identification. Even though checklist is fast to make, but it is inclines to prepare the anticipations of the engaged, and the identification of risks going beyond the experience summarized in the list. The result of using the checklist method can be high, but if they are to have a function, it suggest that they better retained for examining the identification process, and make sure there is no familiar issues have been skipped or ignored. Brainstorming is another method that being hold in a group and it is the favoured method. This is a little more challenging for the participants compared to checklist method but the brainstorming seems more efficient. Brainstorming predict the identification process to gain inspiration from the wide capacity of the participants, due to decreasing the risk that is inadequate consideration will be given to new and more emergent issues, as can occur with the checklist method. 2.3.3 Risk Analysis The risk analysis is implement in each risk as significance rating structure that is considering any existent factors that might be occur which will function to check the risk. The risk analysis can be implementing with qualitative impact and likelihood scale and a matrix clarifying the significance of different composition of the risk. When risks are complicated by themselves that possibly includes various related impacts and events, some types of modelling might be essential. The significance of a risk is connected to a well explained event that will be a composition of the impact and likelihood of the risks. The significance of an unsure quantity will be a function of its three type of value which are the maximum, minimum, and most likely values. 2.3.4 Risk Evaluation Risk can be occurring in any situation. When there are just a lot of risks at the work, the evaluation phase may be proportionately simple and easy. On the other hand, it is a critical step for obtaining an accepted view of the proportionate of the recognized risks. Risk evaluation takes the primary analysis and examines the risks that occur towards the companys known preferences. Any risks which is too high or too low significance are adapted, with a record of the fact being hold for the purpose of tracking. 2.3.5 Risk Treatment Risk treatment comprises what should be done in order to give reaction to recognized risks. Any plans which were thought of before the risk management process commenced are enlarged with actions that been taken to manage the risks before they occur and providing contingency plans with which to get back if a risk happen. 2.3.6 Monitoring and Review In monitoring and review ingredient of the process, there are two levels of them. The other five steps must be remained under an examination as the time passes. Finding of better information may make the first evaluation out of date. It is now usually essential to start the whole process or repeat it once again when risks occurs, not until the change is especially deep, but those parts which are immediately influenced by changing occasions should be updated from time to time. The second step is the monitoring of the performance of the other five levels. The implementation of the risk management process attracts sources and should be administered in order to make sure that it is performed cost-effectively. 2.3.7 Communication and Consultation Communication and consultation is the key component of the risk management process and a major beneficial side effect. Risk management is success when it achieves a high level of creative input and involving all parties with a role to play in achieving a successful outcome for the project or business process being addressed. In both the planning and execution phase in the risk management process, it is prominent to make sure all those individuals who need to be involved are given adequate opportunity to do so and are kept informed of developments in the understanding of risks and the measurement taken to deal with them. 2.4 Tools and Techniques for Risk Response Planning In every project, the risks can raise when there are a lot of phases and tasks to be done in such a way that the least consideration is delivered to main issues of the project. According to (Bajaj, 2000), individual members of the project are usually focus only on the role that they have in the project risks and voluntarily or involuntarily try to pass these risks on to other project members. This means they do not want to take the responsibility to handle the risk by themselves. The crucial part of risk management is mitigating risk by minimize their effects. A systematic risk management strategy which is executed properly shall decrease the adverse effects. Risk mitigation that been properly planned and well managed is a replacement of uncertain and volatile events with a more predictable or controlled response ( (Chapman, 2002). A proper risk mitigation strategy is very important in order to reduce the likelihood of happening or possible influence and doubtfulness of a risk event. There are four types of risk management strategy which are: i. Risk avoidance which when a risk is not accepted and other lower risk choices are available from several alternatives; ii. Risk acceptance which when a conscious decision is made to accept the outcomes the event should occur; iii. Risk control which when a process of sequentially monitoring and improving the situation on the project is used. This process includes the development of a risk reduction plan and then pursuing the plan. This means that mitigation strategy is the most common risk management and handling technique; iv. Risk transfer which when the risk is shared with others. Sharing the risk with others involve contractual shifting, performance encouragement, insurance, warranties, bonds, and so on. 2.5 Classification of Risks in Construction The first stage in risk management is risk identification. Risk identification is recognising any risks that can be occur in the construction projects. Risk classification is one of the part in risk identification which is the trying to manage different risks that can give impact and influence a construction project. According to (Chapman, 2001), risk has four subcategories which are project, industry, client, and environment. From the other related literature, out of 58 risks recognized connected to construction joint ventures, (Shen, 2001) categorised them in 6 groups according to risks nature like financial, economy, technical, politic, and management. As a result, there are a lot of methods that can be use to categorizing risks that can affect to construction projects. According to other study by (Kalayjian, 2000), in the Third World of Construction classified that some of the most representative kinds of risks that are commonly use in todays global construction area are: i. Financial Risk is the economic feasibility in a project that relies on its capital organizing and capacity to draw dependable resources of financing at logical terms. Risks contain the owners power of acquiring enough budgets, deposit payment, receive tax incentives, and expect instability of currency exchange rates. ii. Design and Construction Risk which is in the construction project itself. To be success in construction projects, the managerial teams must have a power decision making. Risks that must be take care are an effective team selection process, obtaining permits and third party concurrence in timely fashion, procurement of adequate labour, materials and equipment, monitoring all changes in project scope, quality control assurance, and ensuring overall compliance with contractual obligations. iii. Weather and Environmental Risk is about the mother nature situation. In construction sites, there is vulnerable change in the weather and natural disaster like earthquakes, monsoons, and flood. Other risk can be reducing the other dangerous wastes and severe environmental legislation. iv. Economic and political risk is a risk which also can affect the construction project. The performance of economic in a country and political stability has a significant effect in construction activity and investment. Prominent risks consist of financial policy and governmental monetary responsibility, resources availability, development of infrastructures, internal stability, changes in managerial schedule, and political management. On the other research done by (Hassanein, 2007), there are several risk that has been identified which are: i. financial risks: the checklist mentioned about some financial risks which are related to the projects in this study. ii. Technical risks: the checklist show allowances for similar standards and codes. This is because the two projects studied were tendered internationally which causes contractors from different countries. iii. Risk related to change: the checklist addressed certain provisions concerning the simultaneous progress of design and construction phases on the two fast track project under study. iv. Consortium risk: in some contracts, contractors are requested to make partnership including foreign and local contractors as a necessity of tendering qualification. v. Owner obligation risks: the checklist embraced factors which should be stated in the contract to clarify owners responsibilities and to guarantee these responsibilities would be come up with on time. These include an obvious interpretation of these responsibilities, time frame for their execution and declaration of amendments if these responsibilities are not executed shall be contained in the contracts. vi. Risks regarding interface with other contractors: the checklist included specific items to mitigate risks related to interfaces with other contractors. vii. Risks regarding interface with other contractors: the checklist included specific items to mitigate risks related to interfaces with other contractors. According to (Tang, 2007), the most important risks in project are poor quality of work, premature failure of the facility, safety, financial, and incorrect design risk. 2.7 Barriers of Implementation of Risk Management According to (Liu, 2007), the most dominant risk in the construction industry is the unsupportive culture within the industry. As a result, the lack of proficiency and experience is the general reluctance for implementation of risk management in the Chinas construction industry. Lack of proficiency and experience causes contractors to be unable to identify the significance and advantages of risk management. To improve the low understanding towards risk is through changing the culture of enterprise. This is because it is essential for Chinese contractors to agree with the risk managements concept as well as execute risk management techniques. The professionals behaviour seems the most significant issue affecting the improvement of risk management in the Chinese construction industry. Organizational learning becomes the critical element of an incorporated risk management procedure which being the learning structure formed to assist Chinese contractors in developing their performance an d knowledge towards risk management. In fact, to transform the modern knowledge to their own knowledge using organizational learning seems become the critical issue for Chinese contractors in order to develop their ambitious. According to (Baloi, 2003), it appears that professionals have not completely understood the value of risk management. This is because there are advances in the methods of risk management and availability of the enormous body of knowledge of risk management. The professionals recognised language, implementation costs, and educational barriers and a fear of change to be the principal barriers of the efficient conformance. According to (Hlaing, 2008), Singapore construction contractors on construction risk identification asserted that the reason that preventing the implementation of risk management process is money but it is not the major constraint for implementing risk management program for the companies but the most important risk in the list is lack of time. This is same as stated by (Lyons, 2004), identified that time constraint is a main restriction. The activities of construction industry are really related to time when the manufacture of the construction is basically used just-in-time for the manufacture need of customer. 2.8 Risk Identification Methods In order to be successful in project management, it requires the ability to predict the risks that affecting the project scope, time, and cost. However, there are a lot of researches about risk identification, risk assessment, and management for executed facilities is focusing on types of projects or categories of risks aspects. It is related to the literature from (Howell, 2001) about the political risks that exist. Now a day, the construction industry still cannot identify the risks that occur in the project activities. According to (Walewski, 2002), the worth of systematic risk management of activities on project has not been identified. This is because the lack of common vision about risk and the parties that involved in construction industry such as owners, designers, investors, and contractors have different objectives and the relationship among them are prevalent contradict. All of the project parties not systematically make their efforts at organizing risk analysis management among themselves and this particularly correct between contractors and owners. (Fang, 2004) show a model for risk assessment. The model use for tendering project in Chinese building project based on assessment and identification of critical risks in the Chinese construction industry. As a result, the projects risk could be evaluated by analyzing the issues such as the competition for tendering and reasonableness of bid price, lack of cooperation between contractors and the owner. In other study done by (Hassanein, 2007), the marked lack of consistency in the contractors risk identification effort been identified as the risk in the power station projects on Egypt. The contractors who have more experience in Egypt were better to identify the relevant risk. Vice versa, the local Egyptian contractors who have vast experience in Egypt but limited project management experience were not really expert to properly identify risks and to take the appropriate exceptions. In fact, the bidders do not include in their proposals on their true lists of exceptions which represent genuine risks to them. CHAPTER 3 RESEARCH METHODOLOGY 3.1 Introduction This chapter will cover how the research will conduct to achieve the objectives of this study. The methodology that will be use are questionnaire survey among the Pahang construction professionals, and preliminary interviews with experts will carry out. The steps are as follows: 3.2 Data Collection 3.2.1 Interview Interview is the effective procedure of data collection because the actuality of condition could be perceived specifically and comprehensively while conducting the interview. For the purpose of this study, as the scope of this study is limited to Pahang, the interview sessions will conduct through two main ways which are telephone interview as well as email interview through the internet. 3.2.2 Questionnaire Questionnaire survey is one of the others way of data collection carry out among selected construction practitioners involve in construction projects. This specialist will working in contractor construction companies. The questionnaire will be identified from interview with construction practitioners and through literature review. The survey questionnaire will administer through e-mail and fax, and postal questionnaire, and secondly through the distribution to selected contractors which are project managers, managing directors, chairman, and head of technical departments operating in the Pahang construction industry. 3.3 Data Analysis All returned questionnaire will be check from completeness and suitability for use in statistical analysis. Next, all the data collected from the questionnaire will be analyse with the assistance of statistical software program called Statistical Package for Social Science (SPSS). After putting the data in SPSS software program, some statistical method will be apply to the data through frequency analysis and mean index, risk analysis matrix, and single sample T-test. After putting questionnaire data into SPSS, some statistical method will be applied to the using frequency analysis and mean index, risk analysis matrix, and correlation test. 3.4 Measurement Most of the question will applied using five point of Likert scale, and other question will applied with multiple choice. The most common scale that will be use is 1 to 5. There are three sections in the questionnaire. Section A will cover about the level of risk in construction project. Participant will be given three choices of answer which is low, medium, and high to scale the risk level according to their perspective. In section B, the typical Likert scale take the following format: Risk level Rare Unlikely Possible Likely Almost certain Score 1 2 3 4 5 Table 3.1: Risk factors In section C, the respondent will be asked to choose the scale between 1 to 5. The scale 1 shows a condition which the probability of strategies been use is minor where scale 5 means the maximum probability of risk strategies usage. Strategies Not important Little important Average Important Very important Score 1 2 3 4 5

Techniques for Recruiting Employees - 690 Words

Medical futility is a judgment that further medical treatment of a patient would have no useful result and that medical treatment whose success is possible, although reasoning and experience suggest that it is highly improbable. Deciding to withdraw care on a patient is difficult for all involved, however in some cases it is a necessary, humane, decision. Two very different examples are the case study in our reading, Mr. Smith, and of Terri Schiavo. Mr. Smith was an elderly man who had lived with Multiple Sclerosis for over 20 years. He was admitted to the hospital with urosepsis and his sons wanted everything done for their father. Mr. Smith did not have a living will. While initially Mr. Smith’s condition was treatable, he soon†¦show more content†¦However, there are documented reports of her reacting to family members. Her husband wanted to withdraw her feeding tube so she could die â€Å"peacefully† but her parents wanted to keep providing medical treatmen t and care to their daughter. While Terri was considered to have brain damage and was in a wheelchair, she was able to breathe on her own and maintain the functions needed for survival (ie blood pressure, heartbeat, kidney function, etc.). To her parents, she was their daughter and deserved the necessary physical, occupational and speech therapy to help her reach maximum recovery. Her husband thought otherwise. He considered her a vegetable. He wanted the feeding tube removed so she could die. The saddest part about Terri Schiavo’s case is her parents were willing to take care of her but because her husband was next of kin, and Terri didn’t have a living will, all decisions were made by her husband. His decision was to remove the tube and sadly, Terri was starved to death. She died two weeks after her feeding tube was removed. Should she have died? Absolutely not, especially with her parents and siblings more than willing to assume all responsibility of her care. Wit hdrawing care of a patient with zero chance of survival is completely different than starving a person to death. Mr. Smith was 84, had been bed bound for 20 years, and couldn’t maintain any bodily functions needed for survival. Terri Schiavo’s only artificial means of survival was aShow MoreRelatedHuman Resource Functions at Apple Computers Inc: An Analysis1544 Words   |  6 Pagesmarket through redefining the structure and purpose of digital technology continually. Human Resource Management at Apple Inc.: One of the major aspects of human resource management at Apple Computer Inc. is its focus on recruiting, hiring, training, and retaining of employees. In the past two decades, the firm has experienced many changes in its product lines, corporate direction and mission, strategy, and its management system. 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Walmart, Information System Free Essays

Large numbers of companies are using their information systems as a strategic tool to improve their competitive advantage. Choose one of these companies (Toyota or Wal-Mart) and prepare an essay of 1500 words on: a) how information systems are used strategically by the company to gain a competitive advantage b) discuss if it is possible for the company to maintain this advantage in the future.You are expected to use the competitive forces and/or value chain model in your analysis. We will write a custom essay sample on Walmart, Information System or any similar topic only for you Order Now In this essay, Wal-Mart was chosen to be the case to analysis. Firstly, some basic concepts will be mentioned, including business strategy, IS strategy and IT strategy, and Wal-Mart will be introduced briefly. And then this essay aims to discuss how information system are used strategically by company to gain competitive advantage, and if it is possible for company to maintain this advantage in the future.Business Strategy sets the overall direction for the business. Information System Strategy is the plan an organization uses in providing information services. It defines what information, information systems and IT architecture are required to support the business. Based on a prioritization of needs. Information Technology Strategy: includes how the infrasture and services are to be delivered. (Turban) â€Å"Wal-Mart Stores, Inc. (branded as Wal-Mart) is an American public corporation that runs a chain of large, discount department stores.It is the world’s largest public corporation by revenue, according to the 2008 Fortune Global 500. † â€Å"Wal-Mart is the largest private employer and the largest grocery retailer in the United States. † (Wikipedia). To be the industry leader, Wal-Mart must have its own competitive business strategies, the first one I want mention is growth strategies, significantly expanding its capacity, expanding into global markets. By now, Wal-Mart has 3,859 stores and more than 680,000 associates in 15 markets outside the continental U. S. Walmart). This helps Wal-Mart to expand global market share and enhance their power of competition. With too many stores, they must have large number of customers. The IT advantages will allow employees to offer their customers a better service, instead of being busy scanning and filling out order forms, they can spend more time with customers. The second one, cost leadership strategy should be the most outstanding competitive strategy of Wal-Mart. The CIO of Wal-Mart has said: to be merchants first and then technologists.IT acts as the most important role in this strategy and helps Wal-Mart to gain lower price competitive advantage, mainly shows on effective logistics and supply chain. (Aleksandrov) Based on the well developed information system, the CEO of Wal-Mart can get information anytime, where need products, which items are best-sellers, where can get the lowest price products from suppliers, which items can get the most profit and so on. One example is that very few retailers can match the speed and effectiveness with which Wal-Mart deals with inventory stocks.The information system would record each single item when it was being sold , when the amount of stocks reduced at some level, the system will remind store of asking more stocks from headquarters. Headquarters arrange and send goods to the nearest distribution centre and computer system of distribution centre will arrange time and route to the store. All the stores are located around distribution centers, all the trucks have GPS, and control center can know the position of each truck, what goods they carried, how far from destination and so on.Stocks will display on the shelves in the store within 36 hours. (MBSlib) This can avoid bulges in order cycle and lower inventory cost. With information system, the supply chin become more time and cost-efficient, with savings passed on to customers. In 1970s, Wal-Mart built logistics Management Information System (MIS), which used to deal with system report, speed up operating speed. They adopted Point Of Sales (POS) machine in 1983. In1985. They built Electronic Data Interchange (EDI), all the information is dealt on the computer instead of using paper.In1986, using Quick Response (QR) to built good partner relationship with suppliers, high frequency distribution with small amount each time, in order to lower risk, stocks and stimulate demand and sales. In 2006, Wal-Mart started using Radio Frequency Identification (RFID), a wireless system used to identify tags and get data in any environment without any workforce. Because this, Wal-Mart can save 8350 billion per year. (MBSlib) Obviously, the primary activities in value chain of Wal-Mart are the strongpoint that can add value to the firms, especially logistics. Considering present market conditions and the way in which industry demand fluctuates nowadays, firms willing to remain operationally efficient will become more reliant on supply-chain management, This is one of the main reasons for which Wal-Mart has been capable of growing at an annual rate of 15. 4%. †(Aleksandrov) All the technologies used to be the core component of its cost-efficient business strategy, and customers of Wal-Mart can get the low-cost benefit from information system. One way to analyze the strategic potential of IS is to consider their influence on one or more of Porter’s five force model.Firstly, medium threat of entry, any company willing to enter this â€Å"Discount and Varity† industry (Aleksandrov) would have to consider the major financial implications of such an action if to complete with Wal-Mart at a national model. Secondly, medium to high threat of substitution, many companies sell exactly the same range of items, but at higher prices. The third one I want to mentioned is power of buyers, which is high because many firms offer the same goods and services, but Wal-Mart can be successful is because of providing at lower price. â€Å"Everyday low price! — Obviously, cost leader strategy is successful. As can be seen above, IT acts as an important and successful role and be used strategically by Wal-Mart to gain competitive advantages, as a result, Wal-Mart will be able to offer lower priced items and good costumer services, both of which will create brand loyalty, prevent Wal-Mart market share from diminishing. The competitive advantages of Wal-Mart in the future, considering the threat of entry and substitution first, there is a certain risk of entry from a firm which offers diversified goods and does not compete with Wal-Mart in terms in price.Although there is some threat of entry into the â€Å"Discount and Variety† industry, this is does not pose a direct threat to Wal-Mart since a different segment of consumers will be targeted by the entrant. Another risk is its competitors may link together in an effort to stop the retail giant from continuing to expand at such rates, Wal-Mart could enable them to compete against these low-cost innovators by sacrificing short term profits and implementing predatory pricing strategies. Aleksandrov) Secondly, Berskhire Hathaway’s CEO W. Buffet believes that due to the tight margins of the industry in which Wal-Mart operates and the efficiency with which the retail giant handles its supplier relationships, logistics system and pricing strategies, no other rational company would attempt to challenge their supremacy. Therefore, according to him, Wal-Mart’s future development will depends on how efficiently the company reacts to the current changes in its business environment. Aleksandrov) Definitely, this should get benefit from IS, to develop the potential of IT resources to add value to Wal-Mart, such as its global workforce become lager and thus need a relatively faultless information system to manage, and the company’s distribution system will be constantly operated at full capacity, allowing no room for errors. On the other aspect, in order for the competitive advantage to be sustained, the resources, here mainly on IS, must be inimitable, imperfectly mobile, and have low substitutability.With the development of society, as company become more pervasive and competitors can access to the same technology, and many companies will catch Wal-Mart using the same way, the advantages from IS of Wal-Mart may be become more and more unconspicuous in the future, there is no real â€Å"sustained† competitive advantage, but I think Wal-Mart has ability to make a new progress, like develop proprietary technology, maybe focus on other aspects.The CEO of Apple Company has said if there are three IT companies left in the world, these should be Microsoft, Intel and Dell, if two, they must be Dell and Wal-Mart. A great amount of managerial and IS effort will be needed to ensure that the company’s expansion rate does not ultimately lead Wal-Mart to its end. In conclusion, Wal-Mart uses IT strategically like GPS, MIS, RFID, mainly on logistics and supply chain, in order to gain competitive advantages, such as growth globally, to be the cost leader with good customer services.In the long run, Wal-Mart may face some threat and may not keep these competitive advantages all the time, Wal-Mart should keep alignment of business and IT strategies and make new innovation and progress in IT, like have proprietary technology, let the IT resources become inimitable, imperfectly mobile, and have low substitutability. How to cite Walmart, Information System, Papers

Culture Topic From Norway Essay Research Paper free essay sample

Culture Subject From Norway Essay, Research Paper Culture subject from Norway Much of the civilization from Norway during the period of the 10th to the eleventh century came from the Vikings. They came from many small towns and military cantonments from all over Scandinavia. They were first-class mariners and warriors. Because of their geographics the people were forced to utilize the sea as their transit. The traveled in long boats decorated with dragons heads on their bows and used for busting, warfare, and geographic expedition. Harmonizing to many historiographers, the Vikings lived quiet lives as husbandmans or bargainers. Many were skilled craftsmen, who were experts in boat edifice, Fe working and as goldworkers. Women milked the cattles and caprine animals, made cheese, brewed ale and honey-sweetened meat, land grain in manus Millss made of soaprock, called querns, cooked up the porridge that frequently served as breakfast, and prepared fish or meat for dinner by tongue roasting it, baked it amid glowing coals in a fire cavity or boiled it in an Fe pot filled with H2O. We will write a custom essay sample on Culture Topic From Norway Essay Research Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The homemaker besides used a loom where she made shirts, pants that formed the first bed of vesture for the Vikings, woollen kirtles, cloaks and shawls. The kept woman of the house knew about industry and authorization. She carried acerate leafs, scissors, and a knife with her wherever she went. She besides held the keys to short pantss or thoraxs that held household articles of particular value. The category construction was based upon the fact that those who were gawky, ailment formed would be the slaves of the Vikings, or otherwise known as THRALLS. Those who were good looking and strong were the workers of farms and places, otherwise known as FREEMEN. The Vikings lived in little small towns that consisted of household owned farms. On these farms there was longhouse ( sometimes made from wood, turf, lappet, or daub ) , stallss for farm animal, storage sheds for nutrient, workshops for Fe and other trades, boathouses for sheltering vass in winter and huts for hive awaying other ch erished equipment like ploughs, angling tackle, carts, sleds and skis. During this clip period the Vikings went to markets and traded pelts, tusk, glass beads, clayware, jewellery, and blades. They besides used coins that they weighed to state how much they were acquiring. Some of these coins were made of Ag, gold and sometimes bronze. The faith of the Vikings was Christianity. They originally the Vikings kept the Old Norse faith and incorporated its Thursday emes into the faith of Christianity. But so King Harold â€Å"Bluetooth† , renounced pagan religion and embraced Christianity. A really celebrated tradition and jubilation that was celebrated during the old Pagan times was St. John’s Eve. This is a dark of assemblages when people gathered around balefires. There were many superstitious notions connected with the Eve of St. John. For case, the balefire was believed to give protection from evil liquors and to maintain away enchantresss. Herbs and workss had charming powers of the dark. Besides, if a miss on this twenty-four hours picked 7 different sorts of flowers and set them under her pillow, she would woolgather about her hereafter hubby that dark. The day of the month of this event is June 23. Word picture and Character Analysis The chief character from the folk tale # 8220 ; The Princess on the Glass Hill # 8221 ; is Boots. His male parent has three boies and Boots was the youngest. He was petite compared to the other brothers. He was besides the bravest of the three. Boots neer cared about what his other brothers said about him because he knew he was particular. Boots attitude is mild, modest and soft. Boots had control over the when the Equus caballuss came. Each twelvemonth a different Equus caballus came approximately and every twelvemonth he would set them in a secret concealment topographic point. He besides had control over the clip when he would feign to be a knight in reflecting armour and acquire an apple from the princess. He neer took all three at one time. Boots got what he wanted in respects to the matrimony of the princess and he besides received half the land. In add-on he had proved to his brothers and male parent that he was a courageous male child and was besides a important figure to t he household. Showing that even though he was hapless, the best adult male would win the award. Harmonizing to the narrative he and his household lived on a farm where they would take attention of the field. This is textual grounds that Boots and his household were husbandmans characterized as Vikings. Due to the tease and torment by his brothers Boots proved that he was brave by remaining the dark in the barn event though there were temblors and storms. He besides would go the inheritor to the throne when the current male monarch would decease. When Boots had gone to the throne to turn out to the male monarch that he so had the apples, the brothers were in daze that their ain brother, the one they tormented and teased, would be their swayer. The writer made Boots as a hapless and incapacitated male child because they wanted to portray him every bit neer being comfortable and fortunate.

Gothic Literature free essay sample

The gothic style originated in Europe during the 12th to the 18th century. It applied to medieval styles of art and architecture, particularly buildings such as cathedrals and other churches. Gothic literature began in England with the novel the ‘Castle of Oranto’ by Horace Walpole. From this novel, gothic fiction developed and flourished, becoming a significant literary genre that inspired famous works such as Frankenstein, Dracula and Dr. Jekyll and Mr. Hyde. Gothic texts share the central theme of horror, and incorporate elements of romanticism to create a dark, mysterious atmosphere and evoke feelings of fear within the reader. Gothic literature is, in essence, a genre which aims to create vivid moods and appeal to human emotions. It uses sensory language to create an atmosphere of foreboding and horror in order to create a feeling of terror. An important aspect of gothic texts is the heightened passion and sensibilities combined with an element of melodrama, a characteristic of the genre which renders it susceptible to parody and satire. We will write a custom essay sample on Gothic Literature or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The setting and characters are pivotal features in gothic literature and are used to reinforce the gothic theme whilst building suspense and intriguing the reader. The setting of gothic literature is a stereotype perpetuated within all texts of the genre. A typical gothic tale will be set in a place with a dark, sinister mood and a menacing feel. An old castle especially ruined or haunted, with secret passageways, labyrinths, crypts and dungeons, is a major convention of the gothic genre. The building is usually decrepit, and can have winding staircases, dark corridors and spooky attics. To increase the eerie feel of the setting, the light in the castle or ruins is often dim and flickering, with creepy shadows on the wall, or sources of light suddenly extinguishing. The setting of a gothic novel is a key aspect in creating the atmosphere of the text and arousing fear, two of the most important features of the genre. Weather is also significant in literature. It enhances the mood through use of violent storms, with thunder, lightening and torrential rain becoming a physical representation of the terror inflicting the characters in the novel. Mist and fog can generate a forbidding ambience and increase the tension. The gothic genre is abundant with stereotypical characters, including the human, the supernatural and the monstrous. The human characters are usually a heroic male and a ‘damsel in distress’ a maiden in frequent need of rescuing by the male protagonist. Fatal character flaws are emphasized and can lead to the hero’s downfall. The characters are often isolated and trapped, either physically or psychologically. There can also be a villain, who persecutes the lead characters and can intimidate the weak female through his power. Supernatural characters are prominent in gothic literature, and can include ghosts, vampires and magicians. Monsters such as werewolves and Frankenstein also feature in these novels. The choice of characters is essential to gothic texts as they develop the mystery, and create fear through the use of dangerous, inhuman creatures. These novels explore the ugly and repulsive to increase the reader’s sense of dread and to make use of the fear of the abnormal. Gothic fiction also utilizes the concept of the ‘doppelganger’, or evil twin to represent the evils of society, such as in Dr. Jekyll and Mr. Hyde. Along with the archetypal characters and sinister settings of the genre, it is further characterized by distinctively gothic situations and themes. More than likely, a gothic novel will entail death and decay, in graphic detail, the entrapment and isolation of the protagonist, a character afflicted by madness in an attic, supernatural events, such as ghost sightings and skeletons, omens or visions, and a terrifying series of events that demonstrate the characteristics of the macabre. The elements that embody gothic literature are demonstrated in the poem by Edgar Allen Poe. It involves literary techniques such as rhyme and rhythm, sensory language and repetition. The meter of the poem is mainly trochaic octometer, meaning each second syllable is stressed. The rhyme structure is ABCBBB and includes heavy, repetitive rhyming and assonance such as â€Å"open here I flung the shutter, when with many a flirt and flutter†. Each stanza runs at a fast rate, and this combined with the frequent rhyming creates a building tension within the poem and increases the atmosphere of dread. The poem climaxes with the final stanza- â€Å"shall be lifted- nevermore! †, the last word exclaimed to conclude the poem. The language of the Raven is archaic and sensory, evoking a melancholy mood. Poe uses antiquated expressions, such as ’thy god hath lent thee’ causing the poem to have a medieval feel, once again conforming to the gothic conventions. His language appeals to the senses, particularly using imagery and visual words such as ‘ebony bird’ and ‘black plume’ to create an image in the readers mind. He uses emotive language to cause an emotional response in the reader, for example ‘leave my lonliness unbroken’. The poem uses repetition throughout, most significantly the single word of judgment originating from the raven- ‘nevermore’. This word adds to the sinister character of the raven, giving it an evil and foreboding persona. It also heightens the emotions of the narrator, as each question is met with ‘nevermore’, his anguish increases. The repetition emphasizes the distress of the narrator. Poe generates a feeling of dread and menace in this poem, along with an element of the grotesque. These are key factors in how this poem fits into the gothic genre. Gothic literature is a genre that shows the attitudes of the time, with the popularity of romanticism and Walpoles novel. the forms and ideas contained within the gothic convention are specifically suited to the society of its time, who discovered the pleasure of the thrill of horror, and found this genre to be new and exciting. The gothic revival of architecture was popular at the time, and it made sense for literature to follow suit. Along with this, it has been stated that the gothic movement was a direct reaction to the terror of the French revolution. In conclusion, the gothic genre is one that Follows a distinctive style of characters, settings, situations and language. It has been highly influential on today’s culture and gothic literature is unique for its ability to use suspense and tension to induce a feeling of terror in the reader.

Comprised of Revisited

Comprised of Revisited â€Å"Comprised of† Revisited â€Å"Comprised of† Revisited By Maeve Maddox More than one reader has chided me for writing â€Å"comprised of† in a recent post. Here’s the culprit: In the ancient Roman army, a centurion was the officer in charge of a century, a unit originally comprised of 100 men. Anyone who has ever read a popular language blog has seen this dictum stated as an adamantine rule: One must never use the phrase comprised of. I’ve certainly read many articles that explain in great detail why â€Å"comprised of† is not only merely wrong, but really, most sincerely wrong. I was on the verge of writing to Daniel to ask him to change comprised to composed, but then I read my sentence again and had to admit that I don’t see anything wrong with it. Plenty of other writers reach for â€Å"comprised of† without remembering that it’s a no-no. The usage is found in edited articles published in The American Scholar, The Atlantic, The Christian Science Monitor, The New Yorker, The New York Times, and The Washington Post. This confession from Francine Prose, a contributing editor to the Oxford American Writer’s Thesaurus and author of a string of books published by the world’s most prestigious publishing houses, illustrates the writer’s dilemma: It has been pointed out to me, more often than I care to admit, that you can say: The book comprises five sections. But you should not say: The book is comprised of five sections. In the second example, use compose instead: The book is composed of five sections. I have lost hope of ever getting it straight, so for now I find synonyms, and wait for so many others to make the same mistake that- as so often happens- grammarians simply give up, and decide that both usages are correct. I mistrust a rule of usage that is not only supremely forgettable but also targets a phrase that writers of formal English have been using for centuries. Even respected language commentators who officially uphold the notion that â€Å"comprised of† must not be used with the meaning of â€Å"consists of† recognize the hopelessness of remembering this particular â€Å"rule†: And no one will mind if you avoid â€Å"comprise.† Just say, â€Å"made up of.† Mignon Fogarty, Grammar Girl. But there’s so much confusion surrounding the usage of [comprise] that it may be better to avoid it altogether. Paul Brians, Common Errors in English Usage. The editors at Oxford Dictionaries Online state that â€Å"comprised of† is â€Å"more or less synonymous† with â€Å"consists of† and that this usage is â€Å"part of standard English.† The Oxford English Dictionary- without any indication that the usage is nonstandard- includes this definition for the â€Å"passive form† of comprise: â€Å"To be composed of, to consist of.† The earliest OED citation for this use is dated 1874. Several linguistic discussions of the topic reference earlier uses dating from 1704. Even the editors at Merriam-Webster, after defending the use of â€Å"comprised of† as acceptable usage, capitulate to the bogus rule: You should be aware, however, that if you use [â€Å"comprised of†] you may be subject to criticism for doing so, and you may want to choose a safer synonym such as  compose  or  make up. Geoff Nunberg calls the â€Å"comprised of† proscription â€Å"a pedant’s veto†: It doesn’t matter if you consider a word to be correct English. If some sticklers insist that its an error, the dictionaries and style manuals are going to counsel you to steer clear of it to avoid bringing down their wrath. That can be the prudent course, especially in an age when email and Web comment threads make things easy for what William Safire used to call the â€Å"gotcha gang.† All of us have our linguistic pet peeves, usage that produces â€Å"blackboard moments† of discomfort. They may not be defensible, but that doesn’t make them any less annoying to us. In deference to readers who cringe when they hear or see the phrase â€Å"comprised of,† I won’t use it in future DWT articles. But I will permit my centurion sentence to stand. Related post: Usage That Provokes â€Å"Blackboard Moments† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:100 Idioms About NumbersDo you "orient" yourself, or "orientate" yourself?Using Writing Bursts to Generate Ideas and Enthusiasm

How managers in international companies have been affected by recent, Essay

How managers in international companies have been affected by recent, radical changes in the economic situation - Essay Example Multinational companies in order to survive in the foreign market developed several strategies during the crisis situation. Multinational companies which operate in emerging economy of developing nations took certain steps in order to handle the situation. A drastic change in economic situation in a worldwide basis has created an impact on various business sectors around the countries. The boom in economy may result in growth and benefit in business and slump down of economy may lead to loss in business. When the economic situation is favourable, i.e. in low interest rate and in rising demand, there is a huge growth in economy (The Times 100, 2011). There were two current issues of economic crisis: one was financial crises and the other was related to production and employment. The financial crisis emerged from the US and it had an impact on almost all of the developed nations. The government performed the fiscal stimulus package to fill the gap of demand slowdown of public sector (W ray, 2009). Lehman Brothers Investment Bank had led to huge loss of several billions of dollars in the mortgage market of the US. The stock market of the US fell down due to collapse of Lehman Brothers and the banking shares were hardly hit. The failure of Lehman Brothers had adversely affected the stability of global financial system (BBC, 2008). The policy makers are failing to address the structural reforms as well as regulatory changes which are essential in order to make certain that a repeat of the crisis does not take place and international policy coordination is proving to be insufficient to the task. German, French along with British banks hold the debt of the bordering countries. By the end of 2011, it is predicted that there will be European banking crisis due to sovereign debt defaults (Carnegei Endowment, 2010). The economic along with financial crisis will be affecting the global business time-to-time. The US has been under the threat of pressure of economic downturn. The growth of the country has turned to be negative again from the end of 2010. The unemployment rate is also rising as 2 millions of American workers were laid off within six months (Global Europe Anticipation Bulletin, 2010). In this paper, various economic crises that had cropped up in the global market will be described by analysing the worldwide financial crises. The crises which have occurred in relation to economy and finance have greatly affected the multinational companies. The paper will also highlight different difficulties faced by managers while handling issues related to different people during financial crisis. 2.0 Impact of Economic Changes on Managers The financial crisis in the US from the period 2007 to 2010 had resulted in liquidity shortfall. It has led to ‘collapse of large financial institution’ and also ‘bailout of bank’ by means of national government along with downturn in the stock market worldwide. This crisis can be considered as one of the major economic crisis after the Great Depression which occurred in the year 1930. The managers associated with such organisations were in great hardship. The economic deficits had become a challenging factor for them. The economic downturn had also affected both developed multinational com

Electronic medical record implementation in correctional facilities Assignment

Electronic medical record implementation in correctional facilities - Assignment Example A carefully designed and well managed continuous monitoring program may effectively transform an otherwise static electronic medical records technology. Monitoring also helps in determining emerging risks and barriers during the implementation process. This offers fundamental information to the relevant change managers and the corrective facility officials to identify risks, take mitigations actions, and make credible decisions with regard to the operation of the electronic medical records. While implementing electronic health records in correctional facilities, two main methods will be employed to monitor the change process. These are the issue log monitoring and surveys. Issue log monitoring One approach to monitor the implementation of electronic health record is to employ the issue log or to make an extra log for concerns. Concerns in the case of electronic health records refer to the matters that are not directly actionable or solvable. Taking that the staff and the implementing teal are meticulous in reporting record keeping and information technology related matters, the frequency and severity of issues may signal an emerging problems. This is especially so when sudden increases in a certain concern are observed in a single area. If the management or the change facilitator compares the issues arising or issues log with the risk register that identifies risks associated with electronic records change, certain aspects in the issues log will stand out and may be construed as increasing risks potential. This calls for a contingency plan to be instituted to deal with the problem that may arise (Schwalbe, 2006). Surveys Surveys in form of questions to monitor fundamental elements of electronic health records offer a structured manner to monitoring organizational change risks. In this manner; the change implementation team makes a assessment premeditated to draw out feedback from the organization and the staff on their perception of the project. Survey also hel ps to identify the organizational change factors that may contribute to the success or failure of the implementation effort. By carrying out surveys and assessment at various intervals and comparing results from assessment to assessment, the implementing team can swiftly establish areas that necessitate more consideration and intercession. While making and conducting an assessment, it is essential to represent extra time and cost to the electronic records technology, various benefits needs to be considered. One benefit is that gathering time and cost information forces regular and system review of the project as it is perceived by the impacted employees and patients. As the analysis is employed from time to time, it can be enhanced and reused (Schwalbe, 2006). Additionally, the analysis can speedily gather feedback from a large part of the organization, enhancing the visibility of the electronic records implementation project and minimizing unexpected or unwarranted reactions. The r elationship between the organization’s related processes, systems, and personal or professional roles and their affect on EHR The provision of electronic health records in correctional facilities is an increasingly involving exercise. Complexities arise due to the complexities of correctional facility services and systems, as well as the various processes and relationships. Electronic health r

Capital Punishment and Tortures Essay Example | Topics and Well Written Essays - 2000 words

Capital Punishment and Tortures - Essay Example Taking the deterrence argument first, as the course module suggests, "those who believe that deterrence justifies the execution of certain offenders bear the burden of proving that the death penalty actually is a deterrent." Yet numerous studies have shown that the death penalty is no more a deterrent than life imprisonment, and indeed, those countries such as the United States who widely use the death penalty actually have the highest murder rates in the industrialized world (Bowers and Pierce, 1980). The brutalizing effect of the death penalty, particularly through well-publicized, infamous executions may actually bring about more murders as there is a general atmosphere of acceptable violence within a society (Zimring, 2003). There is thus no concrete proof that the death penalty actually deters violence, and indeed, the opposite may be true. As the module suggests, "those states in the US that do not employ the death penalty generally have lower murder rates than the states that do". Thi This argument against the deterrence effect is further bolstered by the fact that many murders are spur of the moment, emotional outbursts, often within a domestic situation, in which the consequences are not truly considered. These murders are committed by normally rational people while in a temporary state of irrationality in which judgment as to consequences is impossible (deathpenalty, 2007). It is these domestic murders that are most often solved. The 'professional' type of murder such as that which exists within organized crime or within the more haphazard gang killings are similarly undeterred because far fewer of these cases are actually solved (Zimring, 2003). The other, much smaller category of murderers, serial and spree killers, are also unlikely to be undeterred. The first because capital punishment holds little fear for them because of their often objectified view of human worth, including their own (Lahey, 2002). The spree killer will not be deterred because he normally takes his own life at the end of the spree anyway. Capital punishment holds no fears for a dead person. The second major argument for the death penalty si based upon the idea of "justice" and "morality". This claims that it is ethical to have a death penalty because it is a just punishment for the taking of another life. This theory is based upon the "eye for an eye" type of mentality. But as the module suggests, "the concept of retribution is simply another way of describing revenge." In fact, "a mature and civilized society , , , should respect all life, even that of a murderer". So the moral argument against the death penalty is based upon the same set of ethics which makes murder the most serious crime within a society in the first place. The most valuable thing is a human life, according to this type of morality, and so all human life should be preserved, whatever the person has done. This argument

Fitbit: SWOT and PESTEL Analysis

Fitbit: SWOT and PESTEL Analysis Overview Fitbit was founded as Healthy Metrics Research, Inc. in 2007 by James Park and Eric Friedman. The first product by Fitbit was launched later in 2009—the Fitbit Tracker. It was a small black device that could be clipped onto clothing and tracked steps taken, distance traveled, calories burned, activity intensity, and sleep quality by combining an internal accelerometer with user data. A user could then upload their data to the Fitbit website, where they could see an overview of their physical activity, set and track specific goals, keep activity logs, and interact with friends. Initially, the Fitbit Tracker was only available online, but later was introduced into the retail store market through Best Buy.   Fitbit continued with the clip design type until later introducing the well-known wristband style commonly seen today which introduced even more features in 2013, and later introduced smartwatches beginning in 2015. By August 2015, Fitbit had two clippable activity trackers, four wristband-style trackers, and a smart scale on the market. Prices ranged from $99.95 to $249.95, depending on the product and its functions. By the time Fitbit went public in 2015, Fitbit led the U.S. fitness-tracker market with a share of 76 percent (globally with a share of 35 percent), and revenue had been growing every quarter since 2011. In the first half of 2015 alone, Fitbit generated $737 million of revenue with 8.3 million devices sold, with 80 percent of Fitbit orders being placed on Amazon or Fitbit’s official online shop. However, Fitbit was starting to face some strong competition, as more and more competitors began entering the market such as Garmin, Nike, Samsung, Xiaomi, and Apple. The most notable competitor’s product to enter the market was with the introduction of the Apple Watch in April 2015, which quickly captured the second largest global wearable device market share at 19.9 percent and caused Fitbit to fall from 35 percent to 24.3 percent global market share. Analysis   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In order to better understand the situation that Fitbit is in, a SWOT analysis will be performed and a Porter’s Five Forces model will be created. SWOT Analysis Strengths: As one of the early movers in the wearable device industry, Fitbit was able to capture a commanding size of market share while they built their brand and established a solid user-base. Fitbit also offers many choices to consumers with their different types of products—namely the wristbands and smartwatches—but they were able to offer them in different colors and functionality as to be able to offer a whole range of products at different price points in order to maximize customer reach. Fitbit has also partnered with insurance companies in order to offer programs that emphasize physical activity while providing individuals that take advantage of the programs lower insurance premiums. Weaknesses: Fitbit faces strong competition from competitors like Apple, Samsung, Nike, Garmin, and Xiaomi. As a relatively new company, Fitbit does not have the established customer base and brand loyalists like these other companies have, and as such are having to make up ground in order to effectively compete. Fitbit also only has one successful product line—their fitness tracking wearable devices—while the other companies have products like computers, phones, and apparel that lower their overall risk since they are much more diversified in their overall product mix as a company. Opportunities: As mentioned in the Strengths section, Fitbit has some existing partnerships with health insurance agencies, but there is a tremendous amount of growth left in this area. Partnerships could also be created with companies for services for their employees as well as hospitals for patient monitoring and physical therapy. In the era of big data, Fitbit has an opportunity to be able to sell collected health and behavior data to health insurance companies and universities, but consumer privacy is crucial. Threats: As mentioned in the Weaknesses section, Fitbit faces stiff competition in the wearables market. Apple has a cult-like following of people loyal to its brand, while Xiaomi has taken control of the Chinese market with a much lower priced alternative to Fitbit’s trackers. These all threaten Fitbit’s market position, and as such, Fitbit needs to stay on the cutting edge of technological offerings with its devices in order to maintain their industry leader status as the market continues to grow due to increased health awareness by consumers. Porter’s Five Forces Model Bargaining Power of Buyers: The bargaining power of buyers is at a high level, as there are many alternatives to Fitbit’s products which range anywhere from $34 to $850+, so switching costs are very low. This has forced Fitbit to drive innovation in their products in order to keep consumers engaged and for Fitbit to maintain their status as the leading brand in the industry. Bargaining Power of Suppliers: The bargaining power of suppliers is at a low level, since Fitbit mainly outsources their manufacturing to companies in China and also buy product from them in bulk. Fitbit also has the ability to switch between any number of suppliers in China, and the entire design of the product is intellectual property of Fitbit with the software being written to the device by Fitbit employees themselves. Threat of Substitutes: The threat of substitutes is at a high level, as smartphones are beginning to integrated many features of Fitbit’s wristbands and smartwatches. Smartwatches are also becoming more dominant in the wearables market, as they are also integrating features from Fitbit’s wristband product. Threat of New Entrants: The threat of new entrants is at a moderate level, there are many barriers to entry in the wearables market—namely significant capital investment, as the products need to be manufactured and distribution channels need to be established. Since competition is high, a lot of human and monetary capital is needed for research and development as well. Level of Competitive Rivalry in the Industry: The level of competitive rivalry in the industry is high. Fitbit has positioned itself as a premium brand in the industry, but other wearables offer much of the same functionality as Fitbit’s. Even though Fitbit has a tremendous advantage with being one of the first movers, Fitbit still needs to be able to differentiate itself from their competitors as the wearables market becomes more saturated. Overall: From the Porter’s Five Forces model, buyer power, competitive rivalry, and threat of substitutes are all at a high level, which can make it challenging in the fitness wearables industry to be successful and also sustain a competitive advantage. In order to do this, Fitbit must continue to drive innovation within the industry in order to retain its leadership status. Alternatives The following are strategic directions Fitbit could move in in order to capture more market share and/or increase profit. Expand Internationally As mentioned in the Overview, Fitbit in mid-2015 had a US market share of 76 percent, while their global market share was 24.3 percent. This shows that while Fitbit had a commanding lead here in the United States, it has tremendous potential for growth internationally. Marketing efforts may need to increase internationally in order to bring awareness to the brand, as Fitbit may not be as internationally recognized as their competitors since Fitbit is relatively young as a company. However, since Fitbit has positioned itself as a premium brand, they may need to adjust product offerings for other countries that have vastly different cultures and living standards compared to here in the United States. There is also potential here to increase the total potential market share for the industry as a whole and drive industry growth as a whole. Increase Brand and Product Awareness Since Fitbit is a relatively newer company, they do not have the brand recognition that their competitors like Apple, Garmin, Samsung, Nike, and Xiaomi have, at least on a global perspective. Here in the United States, Fitbit is very much a household name and is pretty much synonymous with fitness tracking, as can be seen by its commanding 76 percent market share (per the case as of mid-2015). Consumers may also not be aware of the range of products that Fitbit offers, so they may not know that a product may be available that fits their price and functionality needs. Even though Exhibit 7 in the case shows that Fitbit has double the next competitor’s percentage for consumers purchasing intentions for a wearable device within the next 12 months—42 percent compared with Apple’s 21 percent—it would be a good idea for Fitbit to be producing more surveys in order to better understand consumers’ preferences so that Fitbit can potentially better position itself within the market as well as understand how consumers view their brand and what features may increase usage. Add Features In this industry, there is high buyer power, competitive rivalry, and threat of substitutes as shown in the Porter’s Five Forces model. In order to overcome these, Fitbit must continue to invest in research and development and drive innovation in the industry if they wish to remain the market leader, so this means continually offering new and unique features to their products in order to create value and increase customers’ willingness to pay. Certain kinds of features, like a camera for instance, may necessitate being added to the smartwatch over the wristband in order to differentiate the products and offer multiple price points to consumers. Fitbit could also integrate their products more with social media like Instagram, Facebook, and Twitter in order to potentially restore some consumer interest, since consumers may be able to better track their friends’ activity as well as share their own. Increase Focus on Health and Wellness   Fitbit has a tremendous opportunity to grow in the health and wellness space by potentially integrating their product into hospitals for them to use to assist patients with health monitoring like glucose, blood sugar, and the heart in activities like physical therapy sessions. Alerts could even be set up for medications. This information could then be linked back to their healthcare provider for analyzing long term trends in a patient’s health. This would be a completely new addition to the fitness tracking wearables industry and could drive high amounts of growth as Fitbit’s product transitions from that of a ‘want’ to more of a ‘need.’ This could also help Fitbit connect with older customers rather than just targeting and connecting with the young and fit customer segments.   Ã‚  The downside of this is it could potentially be very costly and require high levels of research and development in order to deliver products that healthcare providers would require. This would also be dependent on establishing partnerships with healthcare providers. Sell Data In the era of big data, Fitbit has the potential to profit from selling user activity data that is collected when uploaded to their website by the user. The data could then be used by health insurance companies and universities for research. Using machine learning, patterns could be detected from user behavior data that could improve product positioning and customer targeting for Fitbit, provide health and activity insights that may not have been previously known, and also help health insurance companies establish health programs that could lower premiums after studying how certain levels and types of physical activity affected an individual’s health risks. The key issue here, however, is customer privacy. According to the case, Fitbit announced that it was compliant with the U.S. Health Insurance Portability and Accountability Act (HIPAA) in September 2015, which indicates that Fitbit is already establishing protections for customers’ data and its security. Analysis and Discussion   This section will detail the recommended path for Fitbit, as well as discuss what I have personally learned about myself through the course. Recommendation Fitbit built its brand on providing a way for consumers to have a fun and engaging way to track their fitness goals, which also provides the background and experience needed to expand efforts into providing meaningful insights into an individual’s health. Fitbit has an incredible opportunity for long-term growth if they focus on what has made them into the market leader they are today, and focus their efforts on overall health and wellness by providing easier and more in depth ways for patients and healthcare providers to track an individual’s data. Fitbit’s style will also help to replace bulky devices that are not aesthetically pleasing. Fitbit will need to conduct market research to understand what patients and healthcare providers require in order to better develop the tools they need and know the data that needs tracking. This effort will also require Fitbit to invest in research and development to meet those needs. Partnerships could be created not only with healthcare providers, but with insurance companies and medical device companies as well. If Fitbit is able to integrate other medical devices into its app, then they would be able to gain a further edge over their competitors by offering more features and utility, which could be an incredible competitive advantage, especially with how high the competitive rivalry in the industry is as shown previously in the Porter’s Five Forces model. According to the case, corporate clients account for less than 10 percent of Fitbit’s business, so there is tremendous opportunity for growth there as well. Especially if there is a partnership formed between the corporation, Fitbit, and the insurance company to be able to provide cheaper insurance premiums for employees as well as cut health care costs for the corporation. This effort could also be combined with selling data uploaded through Fitbit’s app, and Fitbit is already showing they take data security seriously since they have become HIPAA compliant. If partnerships are being formed with insurance companies, they can use the data as mentioned previously to study how certain health habits can reduce certain health risks in order to form wellness programs that provide discounts to any consumer that uses a Fitbit device and willingly shares their health activity to earn the discounts. Ultimately, these efforts will help Fitbit to position itself and its products as the go-to for health and fitness tracking by transitioning its products from that of a ‘want’ to more of a ‘need,’ which will build their competitive advantage and further differentiate Fitbit from their competitors. Media Article Analysis: Effects of High Protein Diet Media Article Analysis: Effects of High Protein Diet Introduction Media claim from ‘The Telegraph’ that high ingestion of protein would be ‘as bad as smoking 20 cigarettes a day’ and ‘have as higher risk of developing cancer as smoking 20 cigarettes a day’ is misleading and misinterpreting to the readers of general public. The article itself is over simplified making the actual study that the article was based upon, over exaggerated and misleading. Dangers of reading this claim would suggest eating less foods containing protein in middle-age individuals. Proteins are one of the major components to sustain a healthy lifestyle through all ages. () Proteins are large biological molecules consisting of one or more chains of amino acid. Main functions of protein within living organism are to replicate DNA, responding to stimuli, transporting molecules and catalysing metabolic reactions. (†¦) Although the alternative claims are found further down the article suggesting it is not as crucial to eat protein rich diet and maintaining healthy diet regardless of age, the article written suggesting that protein rich diet may be as bad as smoking 20 cigarettes a day through developing cancerous cells was written in the first few sentences. This may suggest to the public readers that they might need to change their diet. By posting this statement on the first few paragraphs the reader might only pick out the points that they are interested in and not continuing reading the article where most of the alternative suggestions are made by different professors and doctors. Describe media claim ‘High-protein diet ‘as bad as smoking’ published by ‘The Telegraph’ on 14th March 2014, written by Sarah Knapton was published to give the readers the idea of how high protein diet has the same effect of developing cancer as smoking 20 cigarettes a day. Researchers tracked thousands of adults for 20 years and found that consumption of high protein diet may have ‘The risk is nearly as high as the danger of developing cancer by smoking 20 cigarettes each day’. Dr Valter Longo of University of Southern California stated: â€Å"we provide convincing evidence that a high-protein diet – particularly if the proteins are derived from animals – is nearly as bad as smoking for your health’. Other comments from Dr Eileen Crimmins stated that with low protein diet the overall mortality longevity may be increased plus increasing an overall prevention of developing cancer in the middle-age individuals. With that in mind another proposition was made that older-aged individuals may need to avoid low-protein diets to allow maintenance of healthy weight and protection from frailty. In the article it is also stated other perspectives of low and high intakes of proteins. Dr Gunter Kuhnle and Prof Naveed Saattar stated that the results may come from a ‘survival bais’ plus public view on the article stating: â€Å"The smoker thinks: why bother quitting smoking if my cheese and ham sandwich is just as bad for me?’à ¢Ã¢â€š ¬Ã¢â‚¬ ° What is claim based on? Media has written this claim based up on ‘Low Protein Intake Is Associated with a Major Reduction in IGF-1, Cancer, and Overall Mortality in the 65 and Younger but Not Older Population’ study by several study groups from USA, Italy and Ecuador. The report was published by cell metabolism. The aim was to find if low protein intake associated with reduction in IGF-1, Cancer and overall mortality in adults ages 50 and over. Recommendations made: Reduction of protein intake may prevent development of cancer cells from 50+ individuals Reduction in red meat intake What is mechanism/theory to support claim? Somatomedin C also known as insulin-like grown factor 1(IGF-1), is a protein encoded within humans by the IGF-1 gene, consisting of 70 amino acids in a single chain with three iramolecular bisulfide bridges.(†¦) In 1970’s its effects were termed as nonsuppressible insulin-like activity (NSILA). It’s a hormone that has similar molecular structure compare to insulin.(†¦) IGF-1 has important roles through childhood growth to adulthood anabolic effects.(†¦) Cancer is an abnormal mass, resulted in dividing cells within tissues cell infrastructure. Cancer cells divide and uncontrollably grow, forming malignant tumorous growth, invading close part within the body. (†¦) Cancerous cells may also spread through the blood stream or lymphatic system, resulting in invading distant parts within body infrastructure. There are 200 different type of cancers that affect human body, over 60 different organs where cancerous tumours may develop. (†¦)Some of the tumours within the body are not cancerous, benignit tumours do spread within the cell but does not infiltrate neighbouring tissues nor do they spread throughout the body.(†¦) There are different studies in which ingestion of low protein diet have been found to be of benefit in the mid-age individuals, plus study’s that comply of ingestion of high protein may develop cancerous cells or speed up the growth of the tumour through IGF-1. (†¦) The growth hormone (IGF-1) not only encourages growth of healthy cells, but also provides sources in increasing cancer cell growth. (†¦) study suggested that increasing 10ng/ml of IGF-1 with the high protein diet have 9% higher chance of developing and dying of cancer compare to low-protein diet. But the proteins that the studies were analysing two-thirds of the protein resurces came from animal produce. When the study was performed on mice, they have found that from animal source proteins tend to have an effect on the growth of cancerous cells, whereas plant derivatives seemed to considered to be more of a ‘safer’ option. (†¦) What evidence is there to support/refute claim? Many studies were performed on low consumption of proteins and relationship between decreasing the development of cancerous cells. From the Cell metabolism article et al 2014, that this media article was based on suggested that from performing experiments on mice and monitoring human population of 50-65 and 65+ year old groups found that there is a correlation between consumption of high-protein diet and development of cancerous cell. But the article also suggested to look into 65+ year old group as instead of providing low-protein diet may have an opposite effect, promoting muscular atrophy and weight loss. Moreover, elder generations turn beneficial effects of protein restriction on mortality, into negative. Another study by Gyrd-Hansen et al 2004 proposed that ‘Heat shock protein 70 (Hsp70) promotes cancer cell viability by safeguarding lysosomal integrity’. The study came to a conclusion that Hsp70 has provided a platform for further investigation in alteration in cancerous cells, decreasing stability of lysosomes. So by finding this protein and deplete it from the cancerous cell it will destabilise lysosomal membrane which will then result in cancer cell depletion. On the other hand study from USA suggested that Mitrogen-activated protein kinase (MAPK) provided strong correlation that inhibitors of signal-regulated kinase (ERK) MAPK will provide effective antiseptic agents for treating wild range of human cancerous cells.( P JRoberts et al 2007) Summary The media article did provide some good evidence towards the end from different professors and doctors from both sides supporting the study that high-protein diets may have an effect of cancer development and others saying that more research need to be done to provide more of a valid proposal on high-protein ingestion and development of cancerous cells within the body. Conclusion The media article claim was over simplified and suggested false claim at the beginning of the article to the general public. Although the study which this article was based up on did provide information on low protein intake has effect on reducing the risk of developing cancerous cells, the claim that is made by the newspaper was falsely advertised, misleading general public in thinking that protein foods such as ‘meats’ may be harmful to their health. But in actual fact proteins have to be a part of healthy lifestyle.

The German World of Disappointment :: Essays Papers

The German World of Disappointment From the youngest child to the oldest man, everyone has experienced the unpleasant feeling of disappointment. Everyone has been to a place that was not all that they anticipated it to be. No one can say that someone has never somehow let them down. At one point or another, everyone has been disappointed in something they have purchased. And what child is not heart-broken when he learns there is no Santa Claus? Whether it is in a person, thing, place, or idea, disappointment can be the most devastating and hurtful feeling people face. Disappointment is an experience that the German people, especially, have had to live through. The German writer, Heinrich Boll, uses his story â€Å"Pale Anna† to illustrate the universal experience of disappointment, an experience his countrymen are very familiar with, through both literature and history. When a long-lost German soldier returns to his hometown five years after World War II has ended, he returns to a place that is familiar, but everyone he knows is gone. His new landlady constantly asks him if he knew her dead son. She talks endlessly about her dearly departed son’s life and shows him again and again all the pictures of her son. The final picture that was taken of the landlady’s son was of him at his job as a streetcar conductor. All the other occasions that the soldier had seen it he reminisced about his own time spent at that particular terminus. He remembers the pop stand, the trees, the villa with the golden lions, and especially a girl that he thought of often during the war that always boarded the streetcar at that terminus. The soldier never recognizes any of the people in the picture until he had been there for three weeks and then he sees the girl in the streetcar. The landlady tells him that the girl was her son’s fiancà ©e and th at she is living in the room next to his. Pale Anna is what they always call her because of her extremely white face, but her face was unrecognizably destroyed when she was thrown through a window by a bomb blast. The soldier returns to his room and tries unsuccessfully to imagine Anna’s face being anything else but beautiful, even with scars. He thinks about his past romances and remembers them as complete disappointments.