Monday, September 30, 2019
Hydraulic Turbines
M.V. Sai Ram AP17110020010 Branch: ECE Here some of the problems I faced in the research of the hydraulic turbines. Effect of blade numbers on slip factor of hydraulic turbine: The change curve of slip factor is shown when the blade numbers change at the design condition . With the increase in blade numbers, the slip factor within centripetal impeller is gradually increased, and the rate of increase is gradually decreased. Therefore, with the increase in blade numbers, the slip value within centripetal impeller is gradually decreased. The main reason is that function of restriction of blade gradually strengthens for fluid with the increase in blade numbers; it leads to the slip value within centripetal impeller being gradually decreased.Effect of entrance width of centripetal impeller on slip factor of hydraulic turbine. The hydraulic efficiency of a turbine excludes friction losses on the outside of the runner, leakage loss of water that does not pass through the runner blades and mechanical friction losses. The hydraulic efficiency of a well-designed turbine is 98-99%.Can interaction occur between the electric power system and the hydraulic system for this frequency range.Velocity and pressure are highly sensitive to the operation conditions. It has been found that the stresses in the trailing edge of the runner blade near the crown reach a critical state in all operating points.Abstract:A set of empirical has been developed which defines the peak efficiency and shape of the efficiency curve for hydraulic turbines as a function commissioning date for the unit ,rated flow, runner speed, and throat or impulse turbine jet diameter.The aim of this investigation was to develop an environmentally friendly nano-hydraulic turbine utilizing waterfalls. A model of an impulse type hydraulic turbine constructed and tested with an indoor type waterfall to arrive at an optimum installation condition. Effects of an installation parameter, namely distance between the rotor and the waterfall on the power performance were studied. The flow field around the rotor was examined visually to clarify influences of installation conditions on the flow field. The flow visualization showed differences of flow pattern around the rotor by the change of flow rate and rotational speed of the rotor.Every single turbine is custom-designed specifically to meet the requirements of a hydroelectric power plant. Performance of a designed turbine is validated, to some extent, by computational fluid dynamics simulations. Field performance testing of hydraulic turbines is undertaken to define the head-power-discharge relationship that identifies the peak operating point of the turbine. This relationship is essential for the efficient operation of a hydraulic turbine.The art of hydraulic turbine design never stands still but always progresses. In recent years major emphasis has been on the materials of construction and on such features of design as will reduce maintenance work and costly outages in the field.LimitationsHydro power plant or we can say that hydraulic turbines are widely used from the last decades. It is an efficient renewable energy source. There are many up and downs. Hence there Some limitations as shown in below,It is a renewable energy source. Water energy can be used again and again.the running cost of turbine or less compare to other.It has high efficiency.It does not pollute environment.It is to maintain.Importance: Here the importance of hydraulic turbine and their uses Turbines are used for hydropower generation. There are basically two types of hydraulic turbines, the first one is impulse and the second one is reaction type turbines. Impulse turbinesThe use of hydraulic turbines for the generation of power has a very strong historical tradition. The first truly effective inward flow reaction turbine was developed and tested by Francis. Modern Francis turbines have developed into very different forms from the original, but they all retain the concept of radial inward flow(Aradag,2018)Hydraulic turbines are not only used to convert hydraulic energy into electricity but also in pumped storage schemes, which is the most efficient large-scale technology available for the storage of electrical energy. Separate pumps and turbines or reversible machines, so called pump turbines, are used in such schemes.(Gordon,2010)The efficient application of advanced CFD is of great practical importance, as the design of hydraulic turbines is customtailored for each project. a CFD-based design method is used to obtain the runner blade shape and characteristics. The hydraulic turbine used to convert the potential energy of water to mechanical energy. Flowing water is directed on to the blades of a turbine runner, creating a force on the blades. Since the runner is spinning, the force acts through a distance (force acting through a distance is the definition of work). In this way, energy is transferred from the flowing water to the turbine.(Guangtai,2015) In Francis turbines, water enters the turbine runner in the radial direction and leaves axially. The main parts of a Francis turbine are spiral case, stationary vanes, guide vanes, runner, and draft tube, as shown in Figure 1. The flowrate and accordingly the produced power are adjusted by the guide vanes. The spiral case regulates the velocity profile entering the turbine, whereas the stationary vanes provide the mechanical strength.3 The most critical part of the turbine, runner, converts the water energy to mechanical energy and rotates the generator(Aradag,2018)A new design of main bearing and carbon seal ring for vertical-shaft Francis turbines provides a bearing immersed in an oil bath covering about one-third of its vertical length. Properly slanted and shaped oil grooves provide for self lubrication, thereby eliminating the troubles usually associated with mechanical lubrication. (Rheingans,1948)Research:The research I have done based on the hydraulic turbines and power plant design. The goals in the development of an optimal water turbine with high efficiency. Can interaction occur between the electric power system and the hydraulic system for this frequency range. Hydraulic turbines of hydroelectric power plants are designed and manufactured according to the head and discharge parameters of a specific plant. Each hydroelectric power plant is different and requires a custom-designed turbine for better performance.Francis-type hydraulic turbines : In Francis turbines, water enters the turbine runner in the radial direction and leaves axially. The main parts of a Francis turbine are spiral case, stationary vanes, guide vanes, runner, and draft tube. The flowrate and accordingly the produced power are adjusted by the guide vanes. The spiral case regulates the velocity profile entering the turbine, whereas the stationary vanes provide the mechanical strength.The most critical part of the turbine, runner, converts the water energy to mechanical energy and rotates the generator. The principal feature of a reaction turbine that distinguishes it from an impulse turbine is that only a part of the total head available at the inlet to the turbine is converted to velocity head, before the runner is reached. Also in the reaction turbines the working fluid, instead of engaging only one or two blades, completely fills the passages in the runner. The pressure or static head of the fluid changes gradually as it passes through the runner along with the change in its kinetic energy based on absolute velocity due to the impulse action between the fluid and the runner. Description Reference List: Brekke,H.(January 08,2010).Performance and Safety of Hydraulic Turbines,12(1),1-11,Beijing, China. Retrieved: 9 March 2018http://iopscience.iop.org/article/10.1088/1755-1315/12/1/012061Gordon,J.L.(December 18,2001).Hydraulic Turbine Efficiency,28(2),238-253,CanadianJournal of Civil Engineering. Retrieved: 10 March 2018http://www.nrcresearchpress.com/doi/abs/10.1139/l00-102#.Wqgl0ehuZPZGuangtai,S.Xiaobing,L.Junhu,Y.Senchun,M.Jicheng,Li.(Juli,2015).heoretical research ofhydraulic turbine performance based on slip factor within centripetal impeller,7(7),1-9.Retrieved: 11 March 2018https://doi.org/10.1177/1687814015593864Ikeda,T.Tatsuno,k(January 03,2010).Performance of Nano-hydraulic turbine utilizingwaterfalls,35(1),168.Retrieved : 10 March 2018https://www.researchgate.net/publication/222577757_Performance_of_nano-hydraulic_turbine_utilizing_waterfallsKavurmaci,B.Celebioglu,K.Aradag,S.Tascioglu,Y.(June 29,2018),50(3),70-73Model Testing of Francis-Type Hydraulic Turbines . Tobb University of Economics andTechnology, Ankara, Turkey. Retrieved: 7 March 2018https://doi.org/10.1177/0020294017702284Manness,J.Doering,j(March 26,2005).An improved model for predicting the efficiency ofhydraulic propeller turbines,32(5),789-795, Canadian Journal of Civil Engineering. Retrieved:9 March 2018http://www.nrcresearchpress.com/doi/abs/10.1139/l05-029#.Wqh9suhuZPYhttp://ieeexplore.ieee.org/document/6444369/authorRudd, F.O. (July 01,1965).Hydraulic Turbine Setting Criteria,87(3),295-298.Technical Engineering Branch Analysis Branch. Retrieved: 5 March 2018http://gasturbinespower.asmedigitalcollection.asme.org/article.aspx?articleid=1416900
Sunday, September 29, 2019
Intergroup Relations.Group behavior in organizations Essay
Intergroup Relations Introduction       Organizations are made of individual employees who are grouped using different criteria for the achievement of certain goals and objectives. Groups can be formed in terms of departments, related tasks or shared goals. Intergroup relations occur since the groups have different functions but, they all serve the interest of the same organization(Robbins, 2014). Therefore, this leads to two types of relations; namely, intergroup conflict and intergroup competition. The two are distinct terms with different meanings and firms are capitalizing on strategies that yield positive outcomes out of this relations.       Intergroup conflicts is the differences and disagreements that rises among groups in a given organization. According to Losh (2011),conflict is considered harmful to the effective working relations in a company. However, intergroup conflict is categorized into functional conflict and dysfunctional conflict. Functional conflict is regarded healthy when it occurs between two or more group. Example of intergroup conflict is a department fighting to have most of the company’s resources at the expense of jeopardizing the functionality of others       On the other hand, intergroup competition is of a positive perspective in organizations. It is where the various groups fight to outdo each other in terms of performance and input to the realization of the corporate goals. Intergroup competition is catalyzed by awarding best groups or departments, financial incentives, and acknowledgment for their effort(Losh, 2011). A good example of intergroup competition is departments competing to be named as the most accountable for resources assigned to them.       Management of organization needs to take advantage of conflicts and competition among groups by applying necessary strategies that will give positive outcomes. One of the strategies is ensuring efficient communication channels within the company to ensure equal access to information by all the groups(Robbins, 2014). Another strategy is providing a clear definition of role and responsibilities for each group to avoid a clash of roles. Equal resource allocation among the different groups is also an important strategy for limiting conflicts and enhancing positive competition between groups. References Losh, S. (2011). Group behavior in organizations. San Diego: Bridgepoint Education. Robbins, S. (2014). Organizational Behavior(Group Dynamics in the Modern Corporate World). New York: Prentice Hall. Source document
Saturday, September 28, 2019
Reviewing Friction: An Ethnography of Global Connection Essay
Starting with a critical outline of the global patterns and designs in communication, Anna Lowenhaupt Tsing’s seminal work Friction: An Ethnography of Global Connection attempts at a critical examination of the widespread principle of worldwide associations lingering almost everywhere. While Tsing explicates that her work â€Å"is not a history of philosophy but rather an ethnography of global connection (Tsing, 2004, p. 1)†, she also unravels a tight regard for the seemingly presented connections among the various sections of the society. Apparently, one of the book’s main concerns is to obtain the movement patterns wherein various types of knowledge and culture collide against or with each other. This, perhaps, is the logical and obvious contention behind the book.            The initial section of Friction probes into the notion of ‘richness’ or prosperity through an examination of the numerous sides of capitalism. The first part also seeks an exploration of the events that lead to capitalism and its corresponding effects from a bigger viewpoint. While putting down into understanding the significant concepts needed to have a better comprehension of the foundations and modern expressions of capitalism, the first part also brings into light quite a few matters surrounding the delicate and complicated ties from all over the globe. This section introduces the part where the Tsing will subsequently interlock the discussion about the worldwide political environment which encompasses the Indonesian society including the local communities.            Tsing’s seminal work also makes the plain observation that the population increase or boom has equally led to a rapid disproportion in the environment as resources would then have to be consumed or used in a larger scale or degree. Because capitalism is one of the book’s primary concerns, it attempts to showcase the definitive function of capitalism in this imbalance which is largely amplified by the increase in population in the modern years. Tsing further observes that proliferation is also a crucial principle that indicates the expansion or spread of capitalism (Tsing, 2004, p. 27). This results to the presumption that the population expansionâ€â€with the combination of capitalist expansionâ€â€is a measure of proliferation. In return, the proliferation generates the setting of frontiers which are not mere edges but more importantly specific forms of edges â€Å"where the expansive nature of extraction comes into its own (Tsing, 2004, p. 27).†           Generally, the opening parts of the book, including the first chapter, are initially segmented into two sections: the first section deals with the concept of frontier and the resources which consist it founded on the ethnographic observations during the middle parts of the 1990s; the second section probes the consequences of the predicaments during 1997 when â€Å"frontier-making spiraled out of control (Tsing, 2004, p. 28).†           The second main section of Friction explores the concept of Natural Universals with respect to the various contexts in the whole world. Friction inevitably draws the parallels between universality of a supreme being which is God and the universality of nature through the environment for generating the link between Nature and God. While the chapter probes into the â€Å"universality of capital-N Nature†which is the â€Å"awe-inspiring, lawlike systematicity of the cosmos of and of life on earth†(Tsing, 2004, p. 88), the book also inevitably draws the essential link between Nature and the rest of the world.            Friction also notes the presumption that generalizations are where â€Å"small details support great visions and the universal is discovered in particularities (Tsing, 2004, p. 89)†. This presupposes the notion that â€Å"generalization to the universal requires a large space of compatibility among disparate particular facts and observations (Tsing, 2004, p. 89).†It also translates into the idea that â€Å"tentative and contingent collaborations†among incongruent seekers of knowledge as well as their incongruent â€Å"forms of knowledge†can create compatible facts and observations from incongruent ones (Tsing, 2004, p. 89). These observations discussed in the book brings us face to face with the core of what the author is presupposing: the idea that mere generalizations are just as they are without getting hold of the particulars that comprise them. If put altogether like a single unit, these very particularities will compose the bigger picture where the rest of Nature and of the world function as a unified force. The second chapter further tries to ascertain the supposition that one can start to take action on the idea of ‘thinking globally’ through the awareness of a present generalization among things. That is, the realization of the commonality among the various elements and entities in the world through their predominant generalities helps us overcome the barriers that hinder us from thinking on a large scale and attain the end of global connections.            The author steadfastly formulates this position by affirming that â€Å"as long as facts are apples and oranges, one cannot generalize across them; one must first see them as ‘fruit’ to make general claims (Tsing, 2004, p. 89).†This makes the book even more mind rousing as it nears its middle part. As Friction exposes certain critical observations such as the inability or failure of individuals to realize the common general thread which holds people together as one, it also brings into consciousness the possible means of surmounting the test of realizing the more general claims.            In addition, Friction reiterates the idea that â€Å"cultural analysis thrives on the description of specificity†given that it is the paramount scheme for us to get hold of â€Å"a critical distance from the common-sense platitudes and everyday assumptions of our lives†and â€Å"the powerful ideologies that keep us in their thrall†(Tsing, 2004, p. 122). Friction reasserts the position that omitting the comprehension about the particulars disarms one with the capacity to approach and comprehend the more evident actuality in the rear of our common-sense perception of the globe.            â€Å"Nature Loving†further makes manifest as well as supports the belief that the assorted interactions concerning different categories of knowledge and culture are unyielding factors in investigating universal claims. Using the Indonesian rainforest as an example, the book reiterates the belief that people have always been in contact with nature. One example to this is the fact that there are ‘nature lovers’ who are â€Å"devoted to outdoor activities such as camping, mountain climbing, rafting, and scuba diving (Tsing, 2004, p. 122)†. These individuals merely consist of a little fraction of the bigger populace whose daily lives involve contact with Nature such as the Indonesians.            Friction penetrates deep into the analysis by putting side by side the observations of the poet Kristiandi Tanumihardja with the observations of individuals from the scientific community to the masses. The cornerstone of these observations from the book relates the idea that nature has its own way of communication which is evidently unique in its own mysterious ways. As Friction talks about the human endeavors to disclose the mysteries behind the way Nature communicates not only by the scientific community but also by the world of literature, it also hopes that â€Å"even with such limited understanding†the attempts â€Å"might bring us closer to knowing how to live in a multispecies world†(Tsing, 2004, p. 172). Friction further concretizes an observation in the chapter â€Å"A History of Weediness†where the author explores â€Å"the interdependence of species†by reflecting on â€Å"the beasts and flowers, not just as symbols and resources, but as co-residents and collaborators†(Tsing, 2004, p. 172). This corresponds to the presumption that there should be ‘respect’ in the manner which human beings deal with the environment. The book reveals the outlines upon which the societies have significantly transformedâ€â€and, to a certain extent, revolutionizedâ€â€across generations which largely contributed to the major changes in Nature. More importantly, Friction tries to reveal the assessment that Nature and the cultural processes have been normally delegated with various disjunctions and differences as well as with the heterogeneous factors which intertwine along the wayâ€â€it is the part in which people ordinarily refer to as the concept of ‘globalization’.            The final chapter â€Å"Freedom†in Friction commences with the belief that â€Å"travel changes the way we imagine our home places (Tsing, 2004, p. 213)†which leads us towards the idea that ‘movement’ should be present for us to acquire a consistent and unyielding comprehension and appreciation of Nature and the global environment. It is only through this movement can a broader understanding of the global connections existing take place. More importantly, these movements are paramount or equivalent to the different social movements and upheavals in more recent times. These include the various social movements among the community of civilians consistently engaging with the environment.            Friction’s final chapter further broadens the kinds of collaborations where â€Å"political gains and compromises†can be assessed â€Å"through constant attention to these kinds of collaborations and their effects†(Tsing, 2004, p. 268). While aggregating the general contentions of Friction in studying global interconnections and the many particularities involved in comprising the larger whole, the book also places a special emphasis on Indonesia’s environmental status. Friction reports facts about the principal subject matters in investigating the ethnography of global connections and the findings by earlier generations as well as the contemporary ones which ascertain what people comprehend as signs of globalization. References Indonesia: Environmental Issues. (2004).  Retrieved November 2, 2007, from http://www.eia.doe.gov/emeu/cabs/indoe.html Tsing, A. L. (2004). Friction: An Ethnography of Global Connection. Princeton, NJ: Princeton University Press. Yarrow, T. (2006). Book Review: riction: An Ethnography of Global Connection By Anna Lowenhaupt  Tsing. Political and Legal Anthropology Review, 29(2), 291-296.
Friday, September 27, 2019
The Economic Growth in the US Term Paper Example | Topics and Well Written Essays - 1500 words
The Economic Growth in the US - Term Paper Example Roubini claims that the current account deficits may be related to the appreciation or depreciation of a currency (2005). A national currency weakens when the inflow of capital in the country cannot fully finance a current account deficit, that is, the supply of financing from the capital account is low (Roubini 2005). As it is seen, capital inflows and outflows play an important role in this relation. Short-term and long-term interest rates, political risk factors, the GDP growth rate, and other economic factors determine the capital flows and are the direct causes of the currency fluctuations. Roubini calls all these â€Å"the law of gravity†for a currency (2005). Still, as it was mentioned above, sometimes the laws of gravity are defied (Roubini 2005). The current account deficit worsens so much that the trajectory of its falling recoils reversely on the national currency. In 2005, the US dollar appreciated despite all dooming predictions. Which were the factors responsible for such a turn? According to Roubini’s opinion, there are three major factors that made it possible for the US dollar to maintain its status quo: 1/ The US short-term interest rates were kept tightened as compared to Europe and Japan, where they were on hold; 2/ The economic growth rate in the US was higher than in the European Union and Japan; 3/ The US Government adopted the Homeland Investment Act as of October 2004, which was meant to allow companies to repatriate offshore cash balances at a reduced tax rate (Roubini 2005). In 2006 the US current account deficit sloped down even more dramatically than during the previous year. According to the latest data, it increased to $218.4 billion in the second quarter of 2006 (Weinberg 2006). Economists do not cease to debate about the real and hypothetical explanations as to the causes worsening the overall picture of the US economy, in general, and the current account deficit, in particular. To generalize different standpoints, all debating boils down to two groups of explanations: domestic and exterior causes.
Thursday, September 26, 2019
The Renaissance Time Period Essay Example | Topics and Well Written Essays - 2000 words
The Renaissance Time Period - Essay Example As such, the Renaissance was reflected in many forms. It was played out in art, architecture, design, literature, as well as contributed a vast amount of influence in politics and economics. In this paper, the fundamental features of the Renaissance will be explored – from its beginnings in Italy to its expansion to the rest of Europe. Also, an examination of life during the Renaissance will feature economic context of the period, its influence in religion and philosophy, as well as its role of science and medicine. Lastly, the Renaissance life will also be tackled by featuring the food, drinks, and architecture during the period. A. Renaissance and its Origin The word Renaissance means rebirth and with this comes the renewed interest in ancient ideals of Greek and Roman language and culture. As a cultural movement, the Renaissance traces back its origin in Italy where city-states were flourishing amidst the backdrop of wars and conflict with their enemies (Britannica Educatio nal Publishing, 2011). In particular, the northern Italian city-states had, through the middle ages, established close trading links with the Eastern Mediterranean. With it came the renewed cultural ties between Europe and the East, which created a tremendous interest in antiquity and had, since then, culminated in Italy in the 1400s and later spread to other European countries. Moreover, during this period, Italian cities adopted an intellectual movement known as humanism. For Italian humanists, what is fundamental is the sight of man, which is considered to be a universal genius, who could take responsibility for themselves. Another feature of the early Renaissance is the emphasis of learning classical literature of the ancient Greeks and Romans whose areas of studies included literature, politics, history, and language, which are now collectively known as the humanities. With the fruition of humanism in northern Italy during the 13th and 14th century, the Renaissance brought with it a new attitude to life and a new outlook in learning and ideas, which later spread through continental Europe and England. B. Economy and trade During the Renaissance period, Italy was composed of city-states that were strategically located to profit from the renewed trade that was developing because of the Crusades. According to Romano (2010), northern Italian city-states, particularly the Republic of Genoa, the Republic of Florence, the Duchy of Milan, the Venetian Republic, the Papal States, and the Kingdom of Naples, became the intermediary areas in Europe’s flourishing trade with the East. As a result, these independent northern city-states became the thriving capital for international transactions and trade. The renaissance economy of Italy in particular depended on the production of wool and silk as well as banking transactions and international trade (Salisbury & Sherman, 2007). Because of the flourishing economy brought about by the expanding trade between Europe and the East, merchants were able to their affluence to gain economic and political control. They were able to give out loans to Kings and maintain various businesses ventures that were vital for economic growth all over Europe. Aside from these, merchants became the leading patrons of the arts as they used their money to sponsor creative undertaking of artists during the Renaissance period (Kelmer and Woods, 1999). For instance, wealthy traders such as
Staff recruitment Essay Example | Topics and Well Written Essays - 1500 words
Staff recruitment - Essay Example (2) The employer will give an employee a minimum of two weeks'notice of the date of commencement of duty. one month ofcommencing employment. Junior Employees Liberty is reserved to both parties to apply to make provisions for junior employees. Part-Time Employees 9. - PART TIME EMPLOYEES (1) Part-time employees may be employed on a regular basis for less total hours or weeks in a year than full-time employees but for not less than 3 hours on each day and shall be paid for each hour worked in proportion to the rate of wage prescribed in Clause 5. Hours 10. - HOURS (1) The ordinary hours of duty shall be: (a) Thirty eight hours per week or; (b) An average of 38 hours per week with hours actually worked being 40 hours per week or 80 hours per fortnight; (2) The ordinary hours of duty shall be worked in five days of not more than 8 hours (excluding a meal break) between the hours of 6.00am and 6.00pm. Provided that the ordinary hours of work performed on any day of late night trading may be worked between 6.00am and 9.00pm. Provided further that the aforementioned spread of hours may be varied by mutual agreement between the employer and employee. 24. - HOURS (1) The ordinary working hours of work shall not exceed 40 in any one week, or eight in any one day, Monday to Friday inclusive. Such hours to be consecutive except for the meal break. (2) In any week in which a public holiday or the day in lieu is observed falls between Monday to Friday inclusive, the ordinary hours of work for that week shall be 32 hours, and in any week in which two public holidays or the days in lieu are observed fall between Monday to Friday inclusive,... (1) Part-time employees may be employed on a regular basis for less total hours or weeks in a year than full-time employees but for not less than 3 hours on each day and shall be paid for each hour worked in proportion to the rate of wage prescribed in Clause 5. (2) The ordinary hours of duty shall be worked in five days of not more than 8 hours (excluding a meal break) between the hours of 6.00am and 6.00pm. Provided that the ordinary hours of work performed on any day of late night trading may be worked between 6.00am and 9.00pm. Provided further that the aforementioned spread of hours may be varied by mutual agreement between the employer and employee. (2) In any week in which a public holiday or the day in lieu is observed falls between Monday to Friday inclusive, the ordinary hours of work for that week shall be 32 hours, and in any week in which two public holidays or the days in lieu are observed fall between Monday to Friday inclusive, the ordinary hours of work for that week shall be 24 hours. (3) The ordinary starting time shall not be earlier than 5.30 a.m. and the ordinary finishing time shall not be later than 4.30 p.m. Monday to Friday inclusive, or as otherwise agreed between the parties hereto. (2) All time worked in excess of ordinary hours on a Saturday before 12.00 noon shall be paid for at the rate of time and one half f
Wednesday, September 25, 2019
Financial Markets Assignment Example | Topics and Well Written Essays - 1500 words
Financial Markets - Assignment Example Therefore, it is considerably important that shareholders and financial directors have an excellent understanding of the financial setting in which they conduct their activities. It is important to note that a strong financial environment plays a significant role in economic expansion and prosperity. The many corporations increasing funds to finance investment expenses as well as shareholders saving to gather resources for future expenses require stable financial markets. A rapid improvement in technology has also played a significant role in the expansion of financial markets. It has been made easier to make cross border transactions. The function of trust and in the financial market and institutions cannot be overemphasized. This is for the reason that transactions carried out throughout the financial markets and institutions depend on trust that everyone is up to the good of the other. It is unfortunate that much as technological development and globalization has improved the effi ciency, reports have emerged of extra-large scandals in the financial markets around the globe with the potential of crippling state or global capital raising mechanism as well as dreadful complication on the economy .Scandals in the financial markets such as; The LIBOR incident emerges as one of the worst with the potential of killing the industry. The JPMorgan incident and The Facebook initial public offer. These scandals emerge as the worst with the potential killing of the industry. The thesis of this discussion paper is based on the ‘the effects of technological expansion and globalization on the global financial markets’ particularly in the London financial market. The following issues will be discussed in the paper. Various aspects of the financial markets such as, What it means and what it does in spurring economic growth. Observable crises within the London financial market with its associations with globalization and technological growth A summary of the key i ssues discussed. Abstract This paper discusses different aspects of financial markets. It has recognized that the strong financial environment promotes economic growth in any state. The financial market also plays a significant role in the economic environment since it enables major firms to obtain funding for facilitating investments. The development in technology, telecommunications and globalization has promoted the growth of financial markets. Indeed, the expansion has taken place in the financial markets within national boundaries and worldwide. The thesis for this paper was that much as technological progress and globalization has promoted in the financial markets, reports have also emerged showing that these instruments have also presented a crisis in equal magnitude and measure. Research in this paper has established that computer glitches have had serious consequences in the London Stock Exchange (LSE) because of network failures or technical challenges. The technical incid ents resulted in the suspension of trade for hours. Globalization has also presented varied threats and risks in the financial markets including the absence of transparency. This has increased cases of assumption among investors. In addition, the financial markets in diverse nations access information differently. This is a danger because it enhances negative choices of investment and a lack of responsiveness among the
Tuesday, September 24, 2019
The Aubrey-Maturin Series of Novels by Patrick O'Brian Article
The Aubrey-Maturin Series of Novels by Patrick O'Brian - Article Example The Aubrey-Maturin novels depict historical events took place during Napoleonic wars at the beginning of the 19th century. O'Brian does not follow a strict chronological order depicting events from 1801-1813, and 1813-1814. The uniqueness is that O'Brian vividly portrays cultural and religious settings and values of the epoch, its historical significance and social traditions. Two main characters, Jack Aubrey and Stephen Maturin may be compared in matters of general cultural background, including politics and religion, as well as in three key elements of natural philosophy: the anatomical emphasis on pre-adapted functional design, the treatment of extinction, and the belief in fixity rather than transformation. All of these topics help define Maturin's patterns of thinking as a naturalist and shed light on subtly significant moments within the novels. Maturin was educated among the philosophes of the French Enlightenment, but both men, Aubrey and Maturin, also maintained a political and religious conservatism that some people found incongruous (King, 2001). The Aubrey-Maturin novels carry out the paradoxical process of instruction found in the most interesting historical fiction: at the same time they make readers conversant with ideas, tropes, and habits of an earlier world, they also perform the noble literary work of defamiliarization. In creating a compelling vision of natural philosophy, O'Brian makes room for a lost paradigm that seems oddly fresh, for all its scientific antiquity. He revives a naturalist's dream of preternatural design that has become increasingly difficult to imagine. O'Brian portrays that Maturin and Aubrey came to detest what grew from the Revolution and turned away from its democratic principles (King, 2001). In The Wine-Dark Sea, when Maturin meets up with a French utopian named Dutourd, he initially tempers his criticism with some sympathy (Teachout, 2003). Dutourd seems to be "a good benevolent man" led astray by that "mumping villain Rousseau and later by his passionate belief in his own system, based it was true on a hatred of poverty, war and injustice, but also on the assumption that men were naturally and equally good, needing only a firm, friendly hand to set them on the right path, the path to the realization of their full potentialities. This, of course, entailed the abolition of the present order, which had so perverted them, and of the established churches" (O'Brian 2004, p. 32). O'brian's assessment reveals his lingering attraction to revolutionary promises, but, he values established religious and social order above the systems of ideologues. Nor does he believe in the natural equality of humans (King, 2001). As Adrian Desmond has shown, French and British radicals of the period saw a linkage between the atomistic materialism of biology; in which all forms of life developed from a common origin, and revolutionary political theories based on natural equality. Maturin reject both the natural and political philosophy of democratic atomism (Teachout, 2003). When asked by Dutourd what he thinks of democracy, Maturin replies that "he did not think the policy that put Socrates to death and that left Athens prostrate was the highest expression of human wisdom," and he cites Aristotle's "definition of democracy as mob-rule, the depraved version of a commonwealth" (O'Brian 2004, p.
Monday, September 23, 2019
Canadian politics- Position paper Essay Example | Topics and Well Written Essays - 1250 words
Canadian politics- Position paper - Essay Example e of rising temperatures, which is the result of irresponsible human activity that are repeatedly appearing in different media (Environment a priority for more Canadians, poll suggests, 2006). Canada has 243,000 kilometers of coastline that makes it the country with the longest coastline in the country and already eight percent of it faces the threat of submersion due to rising global temperatures and the rapid melting of the permafrost (Global coastlines taking a beating from rising sea levels and storms). The melting of the Arctic permafrost due to rising global temperatures makes Canada one of the key areas in which the immediate effects of rising temperatures will be felt. Experiences of this are already occurring. In the recent summer part of the Ward Hunt Ice Shelf above Ellesmere Island collapsed. In addition uniquely high temperatures in Baffin Island Park caused an unprecedented evacuation of tourists due to the threat from flash floods (Boswell, 2008). The growing awareness and experiences of the possible threats from rising temperatures has made environment a national issue of priority to the people of Canada. The importance of environment to the people naturally has an impact on the political parties in Canada. This impact on the political parties in Canada has resulted in their scaling up their agenda on the issue of Environment. Environment is turning out to be a key issue in the impeding election. A recently conducted opinion poll shows that for almost eighty-eight percent of Canadians support in the impeding elections will be based on the stance of the political parties in addressing their concerns on environment (Boutet, 2008). The political plank of the Liberal party on environment is based on the environmental strategy of â€Å"Green Shift†put forward by the leader of the party Stephane Dion. The essential feature of this environmental strategy of the Liberal party is to curb the rise in energy prices through reducing its demand by placing a
Sunday, September 22, 2019
The Energy of the Future Essay Example for Free
The Energy of the Future Essay Alternative fuels are simply non-petroleum energy sources that are used to substitute petroleum products in supplying energy for engines while providing environmental benefits (DOE, 2005). The search for these fuels is the current trend since it is projected that fossil fuels, the source of petroleum products, would run out in the near future. Year 2005 was predicted as the peak of world oil production, after which, the world oil production would decline. By 2030, it is predicted that world oil production would be the same as the production before 1980; the only difference is that the population is higher thus the demand would be greater. This would then mean that there would be higher prices of oil products; thus the search for alternative fuels is essential (Life After the Oil Crash). In addition, the degradation of the environment calls for these alternatives to impede the possible series of catastrophic events One alternative fuel being widely promoted is the Biodiesel. It is a renewable fuel made from agricultural sources such as animal fat and vegetable oils. This is produced through the transesterification of the base oil by reacting it with an industrial alcohol and a catalyst to convert it to a fatty acid methyl ester (FAME) fuel. In its pure form, also known as B100 or neat diesel, it is capable of powering an ordinary diesel engine, however, some blends are also produced such as the B5 (5% biodiesel and 95% diesel) and the B20 (20% biodiesel and 80% diesel). Most present diesel engines are compatible with running on biodiesel, however, manufacturer specifications should still be considered to avoid warranty violations. In terms of performance, biodiesel is comparable with ordinary diesel; though it has 2-8% less fuel economy, it gives better engine performance and lubrication (US EPA, 2006). Another alternative being promoted due to its potential and environment friendliness is the Hydrogen and the Fuel cell. Hydrogen is the most abundant and simplest element on earth; however, it is usually bonded with other elements to form other things such as water (H2O), hydrocarbons (CH4) and other organic matter making it unavailable (EERE, 2007). On the other hand, fuel cells are electrochemical devices that produce electricity by combining hydrogen or other hydrogen-containing fuels and oxygen. In contrast to batteries, fuel cells are different since it requires a continuous source of external fuel (OEE, 2007). The electricity produced will be used to power the engine. However, hydrogen is bulky and has a small amount of energy per volume; this means that storage techniques of this fuel are critical to its success. But still, hydrogen as a fuel is efficient since it is clean burning and fuel cell vehicles have a potential higher efficiency compared to gasoline vehicles (about 2-3 times more) (EERE, 2007). Another alternative fuel is the electricity. Electric vehicles have long been in use by some countries; however, it gained low popularity due to its disadvantages like higher cost, the size and weight of the battery, short distance covered and long charging time. Nevertheless, the search for alternative fuels has shifted the attention back to electric cars due to its environmental friendliness and its potential to reduce greenhouse gas emissions. Researches are on their way to develop the battery system of the vehicle such that lighter and smaller batteries that could enable the car to reach almost 300 kilometers on one charging and last for 5-10 years could power the vehicle at acceleration and speeds similar to gasoline powered vehicles (OEE, 2007). The 2008 Tesla Roadster Electric Vehicle is a very interesting vehicle. It runs purely on electricity, can reach 60 mph in 3. 9 seconds, has a 135 mpg equivalent, covers 220 miles per charge, consumes less than $0. 02 per mile and has a built-in battery charging system that can be plugged into an outlet (Tesla Motors, 2008). Though this car is very interesting, I would not opt to buy this because it is very limited and has a selling price of $109,000. I think these are the reason why there still few of these around; they are very costly and are very limited. References Department of Energy. (2005). Alternative Fuels. Retrieved June 4, 2008, from http://www. doe. gov. ph/AF/Alternative%20Fuels. htm Energy Efficiency and Renewable Energy. (2007, November 20). Hydrogen. Retrieved June 4, 2008, from http://www. eere. energy. gov/afdc/fuels/hydrogen. html Life After the Oil Crash. Are We Running Out? I Thought There Was 40 Years of the Stuff Left. Retrieved June 4, 2008, from http://www. lifeaftertheoilcrash. net/ Office of Energy Efficiency. (2007, April 16). Fuel Cells and Hydrogen. Retrieved June 4, 2008, from http://www. oee. nrcan. gc. ca/transportation/fuels/hydrogen-fuelcells/hydrogen. cfm? attr=8 Tesla Motors. (2008). The 2008 Tesla Roadster. Retrieved June 4, 2008, from http://www. teslamotors. com/ US Environmental Protection Agency. (2006, October). Biodiesel. Retrieved June 4, 2008, from http://www. epa. gov/smartway/growandgo/documents/factsheet-biodiesel. htm
Saturday, September 21, 2019
Past Trends of Training and Development
Past Trends of Training and Development WHAT EXACTLY RECESSION IS In economics, a recession is a business cycle contraction, a general slowdown in economic activity over a period of time. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes, business profits and inflation all fall during recessions; while bankruptcies and the unemployment rate rise. Recessions are generally believed to be caused by a widespread drop in spending. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation. ABOUT TRAINING AND DEVELOPMENT Training is an act of increasing knowledge and skills of an employee for doing a particular job. Its purpose is to achieve a change in the behavior of those trained and to enable them to do their jobs better. Training is necessary for the newly appointed employees and its equally necessary for the old employee whenever new machines or new technology is introduced in the job. Training is a continuous process. Development is career-centered in nature. All development is self- development. The executive has to be internally motivated for self- development although the terms training and development are used interchangeably and often used together, there are some differences between the two. DIFFERENCE BETWEEN TRAINING AND DEVELOPMENT There is a difference between terms Training and Development. Training means learning skills and knowledge for doing a particular job. It increases job skills. The term training is generally used to denote imparting specific skills among operative workers and employees. Training is concerned with maintaining and improving current job performance. Thus, it has a short term perspective. Training is job-centered in Nature. The role of trainer or supervisor is very important in training. Development means the growth of an employee in all respects. It shapes attitudes. The term development is associated with the overall growth of the executives and managers. Executive development seeks to develop competence and skills for future performance. Thus, it has a long- term perspective. IMPORTANCE OF TRAINING AND DEVELOPMENT Training and development can be initiated for a variety of reasons for an employee or group of employees. When a performance appraisal indicates performance improvement is needed To benchmark the status of improvement so far in a performance improvement effort As part of an overall professional development program As part of succession planning to help an employee be eligible for a planned change in role in the organization To test, the operation of a new performance management system To train about a specific topic TRAINING AND DEVELOPMENT PROCESS Organizational Objectives Needs Assessment Is There a Gap? Training Objectives Select the Trainees Select the Training Methods and Mode Choose a Means of Evaluating Administer Training Evaluate the Training METHODS OF TRAINING AND DEVELOPMENT There are two broad types of training available to small businesses: on-the-job and off-the-job techniques. Individual circumstances and the who, what and why of your training program determine which method to use. On-the-job training is delivered to employees while they perform their regular jobs. In this way, they do not lose time while they are learning. After a plan is developed for what should be taught, employees should be informed of the details. A timetable should be established with periodic evaluations to inform employees about their progress. On-the-job techniques include Orientations job instruction training apprenticeships internships and assistantships job rotation and coaching. Orientations are for new employees. The first several days on the job are crucial in the success of new employees. This point is illustrated by the fact that 60 percent of all employees who quit do so in the first ten days. Orientation training should emphasize the following topics: The companys history and mission. The key members in the organization. The key members in the department, and how the department helps fulfill the mission of the company. Personnel rules and regulations. Verbal presentations Some companies use this method while others have written presentations. Many small businesses convey these topics in one-on-one orientations. No matter what method is used, it is important that the newcomer understand his or her new place of employment. Lectures present training material verbally and are used when the goal is to present a great deal of material to many people. It is more cost effective to lecture to a group than to train people individually. Lecturing is one-way communication and as such may not be the most effective way to train. Also, it is hard to ensure that the entire audience understands a topic on the same level; by targeting the average attendee you may undertrain some and lose others. Despite these drawbacks, lecturing is the most cost-effective way of reaching large audiences. Role playing and simulation are training techniques that attempt to bring realistic decision making situations to the trainee. Likely problems and alternative solutions are presented for discussion. The adage there is no better trainer than experience is exemplified with this type of training. Experienced employees can describe real world experiences, and can help in and learn from developing the solutions to these simulations. This method is cost effective and is used in marketing and management training. Audiovisual methods such as television, videotapes and films are the most effective means of providing real world conditions and situations in a short time. One advantage is that the presentation is the same no matter how many times its played. This is not true with lectures, which can change as the speaker is changed or can be influenced by outside constraints. The major flaw with the audiovisual method is that it does not allow for questions and interactions with the speaker, nor does it allow for changes in the presentation for different audiences. Job rotation involves moving an employee through a series of jobs so he or she can get a good feel for the tasks that are associated with different jobs. It is usually used in training for supervisory positions. The employee learns a little about everything. This is a good strategy for small businesses because of the many jobs an employee may be asked to do. Apprenticeships develop employees who can do many different tasks. They usually involve several related groups of skills that allow the apprentice to practice a particular trade, and they take place over a long period of time in which the apprentice works for, and with, the senior skilled worker. Apprenticeships are especially appropriate for jobs requiring production skills. Internships and assistantships are usually a combination of classroom and on-the-job training. They are often used to train prospective managers or marketing personnel. Programmed learning, computer-aided instruction and interactive video all have one thing in common: they allow the trainee to learn at his or her own pace. Also, they allow material already learned to be bypassed in favor of material with which a trainee is having difficulty. After the introductory period, the instructor need not be present, and the trainee can learn as his or her time allows. These methods sound good, but may be beyond the resources of some small businesses. Laboratory training is conducted for groups by skilled trainers. It usually is conducted at a neutral site and is used by upper- and middle management trainees to develop a spirit of teamwork and an increased ability to deal with management and peers. It can be costly and usually is offered by larger small businesses Off-the-job techniques include Lectures special study films television conferences or discussions case studies role playing simulation programmed instruction and laboratory training. COMPANIES TO BE ANALYSED IN TERMS OF TRAINING AND DEVELOPMENT PRACTICES: WIPRO INFOSYS ABOUT WIPRO Wipro Limited (BSE: 507685, NYSE: WIT) is an information technology services corporation headquartered in Bangalore, India. According to the 2008-09 revenue, Wipro is one of the largest IT services company in India and employs more than 112,925 people worldwide as of June 2010. It has interests varying from information technology, consumer care, lighting, engineering and healthcare businesses. Azim Premji is the Chairman of the board. ABOUT INFOSYS Infosys (BSE: 500209, NASDAQ: INFY) is an information technology services company headquartered in Bangalore, India. Infosys is one of the largest IT companies in India with 114,822 employees (including subsidiaries) as of 2010. It has offices in 30 countries and development centres in India, China, Australia, UK, Canada and Japan. BEFORE RECESSION TRAINING AND DEVELOPMENT PROGRAMS IN WIPRO BEFORE RECESSION Technical training Training about Product Implementation and Development About Integration, Maintenance and Production support services Product, Process, Domain and Technology Trainings ERP and Non ERP Application Training Rollout Rapid Content Development Solutions Assessment and Certification About Change Management Wipro got following awards for its training and development programme in year 2004-2007 Winner of American Society for Training and Development BEST award for four consecutive years 2004, 2005, 2006 and 2007 Dale Carnegie Leadership Award in the year 2007 TRAINING AND DEVELOPMENT PROGRAMS IN INFOSYS BEFORE RECESSION Technical learning, orientation to company processes and practices. About product features and applications Classroom lecture Verbal presentations DURING RECESSION TRAINING AND DEVELOPMENT PROGRAMS IN WIPRO DURING RECESSION Talent management Encore: A basket of nonmonetory rewards given to motivate employees Communicating with the employees: Dont leave your employees in the dark with regards to the companys current situation and prospects. Few things turn people off like the feeling that they are being left out. If you trust them with the truth, they will trust you in turn. Training based on requirement Technical training Stress management TRAINING AND DEVELOPMENT PROGRAMS IN INFOSYS DURING RECESSION Internship: New employees are directly given i=on the job training by assigning a mentor Technological up to date: Motivation Product application About change management AT PRESENT TIME TRAINING AND DEVELOPMENT PROGRAMS IN WIPRO AT PRESENT TIME: Wipro can develop customized, interactive and engaging content to meet its employees training needs. Wipro develop learning content for a wide range of delivery methods Instructor-led training Web-based training Blended training solutions The custom content development services of wipro provide a very wide range of training practices backed by their strength in Instructional Design and pedagogy. And these training methods include Application Training Product Training Process Training Training for New Hires Sales Training Compliance/Regulation Training Technology and Domain Training Soft Skills Training Business Simulations. Wipro also provide content conversion and rapid content development solutions that will meet the varied requirements of the organization. Wipro believe in implementing the right learning pedagogy using customizable frameworks and assign an optimized mix of offshore-onsite development teams to develop these solutions. OTHER TRAINING METHODS THAT WIPRO IS USING e mobile based learning video podcasts learning nuggets on Outlook gaming and virtual worlds. TRAINING AND DEVELOPMENT PROGRAMS IN INFOSYS AT PRESENT TIME: In Infosys all engineering trainees (people hired straight off campus) undergo a 52-day initial learning programme, which is a combination of technical learning, soft skills development and orientation to company processes and practices. Technical training by Education Research department: We have an entry-level technical training program, which is for a duration of 14 weeks. This program has been certified by educationists as being equivalent to a BS program in the US. The Education Research (ER) department at Infosys offers a variety of training programs on a regular basis for Middle level employees as well. Quality Process Training: Infosys has a strong focus on quality processes and methodologies. This training is tailored to the role that one is playing ie. Software Engineer, Programmer Analyst, Project Managers etc Personal Effectiveness and Managerial Programs: Programs to enhance the managerial capabilities and leadership abilities, to enable better customer satisfaction, achieve organizational vision and create high performing multicultural teams. ILI: The Infosys Leadership System: The Infosys Leadership System (ILS) and the Infosys Leadership Institute (ILI) address the issue of sustained growth in general and creates a formal and committed system for developing leadership capabilities in Infoscions. The most significant attribute of the Infosys leadership development model is its partnership approach with the other groups in Infosys and the ownership of the entire process by the top management in what is termed as the Internal Synergy Model. ILI is based at a world-class physical infrastructure, in Mysore, India ISSUES THAT CAN BE RESOLVED AT THE TIME OF GLOBAL RECESSION How to increase the falling output How to reduce cost How to motivateemployees How to achieve target How to increase falling share price How to increase the consumer confidence so that he can spend money to buy the services of the company. SOLUTION TO THE ABOVE ISSUES/PROBLEMS Training should be evaluated several times during the process. Determine these milestones when you develop the training. Employees should be evaluated by comparing their newly acquired skills with the skills defined by the goals of the training program. Any discrepancies should be noted and adjustments made to the training program to enable it to meet specified goals. Many training programs fall short of their expectations simply because the administrator failed to evaluate its progress until it was too late. Timely evaluation will prevent the training from straying from its goals. SUGGESTIONS TIPS FOR EMPLOYEES TO SURVIVE IN THE RECESSION 1) Upgrade Your Skills Make a Strong Profile Unless you are multi skilled, it is going to be difficult for us to survive in the emerging context. When you are out of a project, take that as a boon period to upgrade your skills. Be in testing released certifications like ISTQB, CSTE, CSQA or tools related certifications like AIS, ASE or domain related certifications in Insurance, Banking or telecom is going to help you to improve your profile. 2) Learn to Manage Stress One more critical skill, which we need to learn, is stress management. As we move on, we will get more work related pressure and this will improve further due to the cost cutting and operating margin pressure on the IT companies. 3) Be Always Ready to Face Challenges Every other day, you can see news of IT firms downsizing employees. This is hard reality in countries like India where job security is associated with the work life. It is not the question of you being a performer or non-performer, but the question of available business and required resources. One should not get de-motivated or depressed by these events in life. In western countries, job hoping is a regular feature in life cycle but in India we are yet to get accosted to this. If you happen to face this, take it bravely and face the challenges. Cross skill will help you during this time. If you cant guarantee peoples jobs and you have to let some of them go, make an effort to help them along: free training, introductions to job agencies, recommendations to other companies that may be hiring. This is going to motivate those who are staying, because they will see you as an employer who cares and goes the extra mile, even in a bad situation. TRAINING METHODS THAT CAN BE USEFUL IN RECESSION PERIOD Training methods that are useful in recession period is on the job method because it reduces cost and also reduce the training time and employee can directly learn by persuing his job so it will be beneficial for the organization to use on the job methods. Comapnies can use training methods like Orientations job instruction Technical training apprenticeships internships and assistantships job rotation and coaching Training also improves employee loyalty. It shows your employees that you are investing in them that you believe in them and they will return the favor. When you provide training, your employees morale and confidence are elevated. When employee morale is up, the work environment is better, fewer errors are made and more work is accomplished. The other useful training methods are as following: webinars and podcasts: these are free. Most cost less than off-site conferences. In addition, there are no travel expenses or time away from the office to incur with e-learning. E-learning allows your employees to build their skills from the convenience of their home or office and often whenever they choose. It gives them ultimate flexibility. Employees motivation: should motivate the employees so that they can do their work more efficiently. Time management: they should tell about the time management so that they can do more work in less time and there can be more productivity that can reduce total cost. Stress management: They should be given some classes to tell them how to be stress free and how to do their work without burden or should be given some refreshments so that they can be stress free. With the global economic recession, you may have to make drastic changes to stay afloat. However, keep in mind that employee training is still very important and can be cost-effective. The long-term results of investing in your employees during this time are immeasurable. CONCLUSION After analysing all the training methods of wipro and infosys during recession, before recession and after recession period we come to know the following main findings The training methods were different before recession in both wipro and infosys. Companies use to give training to employees in term of technology mainly but not give more attention to behavioural or soft skills. Classroom lecture Verbal presentations Technical skills Product application knowledge And at the time of recession companies reduce its investment for training purposes and employees were given training only for the important things. Companies pay less money in training during recession. And employees were given training as per their needs or training so as to survive in recession period that is how to reduce cost How to increase productivity How to keep customers happy How to increase market share And now at present after the recession the companies are again paying more effencies to training needs of the employees. Now the employees are trained in terms of good interpersonal skills, behavioural skills technical skills motivation things Quality process training Leadership skills
Friday, September 20, 2019
Corporation Law Case Study
Corporation Law Case Study 1. What common law duty and statutory duty if any has Julian breached? In the case involved, Julian had definitely breached his common, as well as statutory duties as a Director of Property Developments Ltd when he intentionally disclosed a confidential information, the bidding prices of various interested architectural firms, to his brother Raphael. More so, his failure to disclose to the Board that Raphael who will submit a tender is an act of dishonesty and bad faith. Common law provides that due to the fiduciary role of directors in the company, they have a duty not to abuse any confidential information that they knew or acquire as a consequence of their position. In Thomas Marshall (Exports) Ltd v Guinle [1979] Ch 227., the Court states that it is a breach of duty if a Director would be disclosing details of the companys clients or suppliers in situations where such information would be considered to have been given in confidence. That in the case sample, it was clear that Julian who was in charge of the tender process, intentionally discloses the bidding prices of the various interested firms so that his brother could make a better bidding price. More so, Julian also violated Section 183 of the Corporations Act 2001 Use of Information. Under the said proviso, it states that: A person who obtains information because they are, or have been, a director or other officer or employee of a corporation must not improperly use the information to: (a) gain an advantage for themselves or someone else; or (b) cause detriment to the corporation. A person who obtains information because they are, or have been, a director of a corporation must not improperly use the information to gain an advantage for themselves or someone else, or cause detriment to the corporation. (s 183 Corporations Act 2001 (Cth)). Another duty that Julian breached is his failure to disclose that his brother will submit a tender whom he initially informed of the bidding prices of his brothers counterparts. Directors have a duty not to have a personal interest in a transaction with the company. A director will breach this duty where he or she enters into a contract with the company either directly (by personally contracting with the company) or indirectly (such as where the director is both a director and shareholder of another company which contracts with the first company of which he/she is a director).[1] Another qualification to the duty to avoid conflicts of interest is where a director makes fulldisclosure of the nature of his or her interest in the transaction to members of the company at a general meeting, and the transaction is approved by ordinary resolution.[2] Julian breached his duty to act in good faith because he leaked the information to his brother and did not disclosed his relationship with Raphael to the Board. 2. What common law or statutory duty have Sol and Daniel breached? A director or other officer of a corporation must exercise their powers and discharge their duties with the degree of care and diligence. (Section 180-Corporations Act 2001). Directors are required to make an informed and independent judgement on decisions put to the board of directors[3], and are required to place themselves in a position to guide the company and monitor its management.[4] As directors, Sol and Daniel should have verified or put queries to the proposed land to be acquired by the company. It is their basic duty to know the value of the land and how to finance the acquisition as the interest of the company is at stake in the situation. In Land Credit Company of Ireland v Lord Fermoy, 771, Lord Hatherly states, it would be carrying the doctrine of liability too far to say that directors are liable for negligence, not because they did not ask whether [the borrowers] were solvent and respectable, but because they did not inquire what they were going to do with the money. Applying the afore stated doctrine, it laid that Sol and Daniel failed to observe their common and statutory duty to act with care and diligence. 3. If the directors have breached their duties do any of them have a defence and if not what are the consequences for them? Julian can be slapped with civil and criminal charges because of his acts. In the case sample, he breached his duties to act in good faith, not to make improper of position and not to make improper use of information. Julian can hardly have a defence on his side if his acts are discovered. As to Sol and Daniel they can be charged with civil offense for acting without care and diligence. However, both can make a defence that they did not acted in bad faith as they are in honest belief that the deal was proper and most importantly it did not put the company into disadvantageous position. If proven guilty, Julian, Sol, and, Daniel could be fined up to A$ 200,000.00, or ordered to be disqualified as director as their civil liabilities. As to the criminal liability of Julian he could face an imprisonment up to five (5) years or a fine of A$ 200,000.00 or both. References Corporations Act 2001 pwc.com.au. A guide to directors duties and responsibilities for non-listed public companies and proprietary companies in Australia Ian M Ramsay 1997, Corporate Governance and the Duties of Company Directors. The Centre for Corporate Law and Securities Regulation Faculty of Law The University of Melbourne [1] South Australia v Clark (1996) 14 ACLC 1019. [2] Woolworths Ltd v Kelly [1991] 22 NSWLR 189 [3]AWA Ltd v Daniels (t/as Deloitte Haskins Sells) (1992) 7 ACSR 759 [4] Daniels (formerly practising as Deloitte Haskins Sells) v Anderson (1995) 37 NSWLR 438
Thursday, September 19, 2019
Reading Recovery Essay -- Research Papers Learning Education Papers
Reading Recovery The ability to read is vital to a child's success in school and throughout life. However, reading achievement in the U. S. is low. In fact, according to the most recent national assessment of educational progress, 44% of U.S. students read below the "basic" level, meaning they exhibit little or no mastery of the knowledge and skills necessary to perform work at grade level (Collins, 79). These statistics have driven school districts, parents, and students scrambling to find something to turn the tide of reading failure. They are searching for a solution that will have a lasting impact on a child's reading ability. Many have adopted the Reading Recovery Program as a viable solution to the problem. The issue to be addressed now is; Does this program provide an effective solution to the reading problem that is plaguing students of the US? I was particularly interested in this question because my eight year old daughter, Brooke, successfully completed the Reading Recovery program when she was in first grade. However, despite our efforts, her reading skills stagnated during second grade. By the beginning of third grade her teacher approached me to say something is wrong. The teacher pointed out that if Brooke successfully completed the Reading Recovery Program, then she should not be struggling like she is with reading. This was my catalyst to finding out about the effectiveness of the Reading Recovery Program. I wanted to find out if the program really produced long term results or if it was just a nice bit of one on one attention from a devoted teacher. To fairly analyze these questions, it is essential to take a glimpse into the reading problem that pervades across the US. As stated, ... ...Recovery Program is effective in raising potentially poor readers to grade level. Most of these children are able to maintain an average reading level as they progress through school. This program appears to be a viable solution. Bibliography Clay, Marie M. 1993. Reading Recovery. Reed Publishing Co. Auckland, New Zealand. Collins, James. "How Johnny Should Read." Time Magazine. October 27, 1997 Mc Guinness, Diane. "Why Our Children Can't Read." (photo copy with out the rest of the information). Personal interview: Brown, Wayne. Feb. 18, 1998 Personal interview: McMahan, Taffy. Feb. 20, 1997 Personal interview: Howard, Gwen. Feb. 20, 1997 Office of Research, Consumer Guide. December 1992. Number 3 Masters Program, Curriculum and Instruction. Reading Recovery, Illinois State University. Fax 309-438-8699
Wednesday, September 18, 2019
The Effects of Wishes :: essays research papers
Throughout history people have been mislead to believe that happiness can only be found through achieving what you think you want. For example, it is rare to read a fairy tale that doesn’t involve a hero obtaining his goals and living happily ever after with the one he loves. Few authors have dared to write about the reality of life in fear that the response from audiences who are used to happy endings would be negative. Charles Dickens and James Hilton are two authors that took that chance and each produced a novel that did not necessarily have a happy ending. Charles Dickens illustrates in his book, Great Expectations, and James Hilton presents in his novel, Lost Horizon, that life is full of surprises, and happiness is not always found in the things we think we want.      The hero in each of these novels is on a quest for happiness. Pip, from Great Expectations, believes that if he were to become a gentleman he would be content with his life. On the contrary, Conway in Lost Horizon is searching for peace of mind and where he can think without disturbance. Each character’s quest brings them to the realization that there are consequences for every action, and obtaining your goals is difficult when enduring the obstacles of life.      The main objective of Pip and Conway’s quests is to obtain a talisman. Dicken’s Pip is looking for materialistic items such as money, while Hilton’s Conway is looking for knowledge that can last you a lifetime. Though both characters end up achieving their own talisman, it proved to not be the only key for happiness as expected.      Throughout the quest for the each talisman, a mentor guided each of the heroes. In Great Expectations, his benefactor, Magwitch, guides Pip during his quest by providing him with money when needed. The High Lama enlightened Conway with knowledge and gave him guidance, in Lost Horizon, therefore filling the position of a mentor towards him. Both mentors fulfilled the main characters with their talismans, but it was up to the heroes to determine what was best for their life.      The settings in the novels were different and therefore affected the main characters in various ways. The setting for Great Expectations was nineteenth century England where money was a major part of society. Pip felt obligated to obtain money in order to marry and live an exceptional life.
Tuesday, September 17, 2019
Bangladesh Automated Cheque Processing System (Bacps)
Bangladesh Bank Head Office, Dhaka Payment Systems Division PSD Circular No. 02/2009 Managing Director/Chief Executive Officers All scheduled banks in Bangladesh Date : 4 Falgun 1415 February 16, 2009 Dear Sir, Bangladesh Automated Cheque Processing System (BACPS) at the expanded Dhaka Clearing Region. You are aware that Bangladesh Bank has been working to modernize the country’s payment system. The most visible step towards modernizing payment system is the establishment of the Bangladesh Automated Clearing House (BACH). Bangladesh Automated Cheque Processing System (BACPS) is one of two components of BACH. The other component of BACH is the Bangladesh Electronic Funds Transfer Network (BEFTN), which will be implemented immediately after implementing first phase of BACPS. Selected vendor has already started procuring necessary hardware and software for the BACPS solution. Detailed system specifications and operational configurations are being defined and calculated with a target of going live operation at expanded Dhaka Clearing Region with more than 1050 bank branches of 49 banks in and around the capital city during the second half of 2009. 2. The basic features of BACPS are the adoption of new cheque design standard with a Magnetic Ink Character Recognition (MICR) code line and the exchange of cheque-image and data instead of paper cheques for clearing and settlement purpose. Retention of the original paper cheque will become the responsibility of the presenting bank rather than the paying bank. Banks are required to make arrangement and develop infrastructures to meet the requirements of the new system. Bangladesh Bank will adopt necessary Regulation(s) and issue Operating Rules and Procedures in this regard. Standards of cheques for BACPS have already been circulated and banks have meanwhile been advised to take steps to print uniform standardized cheques with MICR line. Appropriate information to the banks about requirements they must meet to participate in and interface with BACPS are provided below: (i) Point of Truncation: All scheduled banks who are members of the Dhaka Clearing House will be required to submit their list of selected branches and to finalize their â€Å"point of truncation†for submission of their outward cheque images and data to BACPS and be prepared to handle cheque image and data as part of their inward clearing operations. Banks can choose to truncate and process their cheques at individual branch level or at a consolidation point in line with their business needs. However, it must be noted that each bank will have only one Point of Truncation for BACPS. (ii) Scanning Standard: Images must be captured for both the sides (front and back) of each instrument in the format prescribed below: Image Type 01. 02. Front : Black and White Back : Black and White DPI range 200-300 DPI 200-300 DPI Format TIFF TIFF Compression CCITT G4 CCITT G4 3. iii) Software/Integration: All banks will receive images and data, not paper cheques, from the BACPS for all of the items for which they are the paying bank. Therefore, all banks must acquire the capability to accept as well as to send the image files and data from and to the BACPS. However, those banks who will not be able to equip themselves for processing out clearing items electronically within the stipulated time, will be allowed to process their ‘out-clearingsà ¢â‚¬â„¢ by using the Bangladesh Bank’s own facility at Motijheel for a limited time. However, banks availing of ‘out-clearing’ facilities will have to acquire the capability to receive their ‘In-clearing’ items electronically. Once in-clearing data and images are delivered to a bank by BACPS, the subsequent verification and Contd†¦ P/2 -2- processing of that information becomes the responsibility of the respective paying bank. Bangladesh Bank will supply a gateway software module, known as the Participating Bank Module (PBM) which will act as a gateway, amongst other functions, enabling the receipt or transmission of images and transaction data from and to the BACPS. iv) Communication Links: All scheduled banks are required to put in place two secure communication links, one with BACH Headquarter at Motijheel and another with the BACH Disaster Recovery Site (DRS) at Mirpur. The size and scalability of these links will depend on each bank’s mode of operation and daily volumes. It is preferred that banks acquire fibre optic link an d another redundant communication link with BACH at Motijheel and DRS at Mirpur, Dhaka. 4. Participating banks are required to accomplish the following tasks within the time stipulated below : Activity Issuing MICR standard cheques and phasing out non-standard cheques used by customers b. Selection of vendor(s) and submission of plan for installing necessary hardware and software for cheque processing and connectivity with BACH c. Communication links installed between banks and the BACH d. Users’ Acceptance Test (UAT) for each individual bank with BACPS e. BACPS LIVE a. Dead-line 01-03-2009 to 30-05-2009 30-04-2009 31-05-2009 01-06-2009 to 30-07-2009 03-08-2009 5. The purpose of this circular and distribution of functional specifications is to provide an initial understanding about the requirements that must be met by the participating banks. Detailed specifications attached to this circular are: (i) Active Image Clearing System (AICS) Specification containing the format of the files to be exchanged between BACPS and participating banks (Annexure-I) (ii) PBM Specification regarding functionality for gateway software module (Annexure-II) (iii) Network Specification describing standards for the communication links and security devices required for interfacing with the BACH (Annexure-III) All of these Annexures may be provided in soft versions on a CD and also be available at our website. 6. It is, therefore, advised that member banks update their preparations to be in step with the progress of the implementation of the BACH. The BACPS rules and procedures will be forwarded to you in due course. Please acknowledge receipt. ( Chowdhury Mohidul Haque ) Executive Director, Bangladesh Bank and Project Director, RPP Project Tel: 7167988, Fax: 7164233 Email: chowdhury. [email protected] org. bd
Monday, September 16, 2019
Legal Issues in Gaming Industry Essay
When it comes to looking at the legal issues, we can that there are loads of them. The cause of legal issues rise when a specific games company copies other people’s work or they take what other games without permission. An example of such issue is when the Arktos Entertainment Group, who are the makers of MMO The War Z game, were found to have copied the terms of service agreement from the game, League of Legends. And as crazy this may sound, but another huge legal issue to fall upon the gaming industry when JUSTIN BIEBER filed a lawsuit against a company who develops Android Smartphones called RC3. All this hassle was because RC3 created a video game called Joustin’ Beaver, which parodied Justin Bieber. Another legal issue is copyright. Such incident happened between Nova Productions and Mazooma Games. The reason is because Nova sued Mazooma for copying elements from their games.. Jackpot Pool and Trick Shot. Regulatory Issues in Games. Regulatory Issues Seen as more and more games are getting violent and the no. of people who play them and commit crimes are slightly increasing, those violent video games have been rated in specific way. The first ever game to be rated this way was Mortal Kombat. It was one of the first ever games to have extreme graphic violence such, huge amounts of blood, people being ripped into half etc. The public found it so inappropriate that they rated it a Mature. It means the game is only to be purchased or played by a person who 17 or older. This is to stop anyone under that age from playing the game and having a bad influence. The ratings are as follows: In the UK the games are being rated by PEGI. The ratings are as follows: Ethical Issues in Video Games. Year after year, new games are released with even more improved visuals and game play than the previous selection of video games. But, in some games, better visuals and game play isn’t the only thing to be added into the game. The game is also loaded with ethical issues. Here are some famous video games and the ethical issues that creep in them. Resident Evil 5 – High number of racial stereotyping and abuse: In the game, there features a white male killing black enemies, who lives in a small African village. Grand Theft Auto: San Andreas – Prostitution, Drug dealing, Racist stereotyping: Including an African American person as the main character and the first mission being to steal a bike. Mortal Kombat – Extreme graphic violence
Sunday, September 15, 2019
Locker Searches
Wonjung Hwang Mr. Chonko English 10 Period 3 19 November 2012 Locker Searches We've all seen enough crime shows to know what to do if the police knock on your door and demand to search your property: stand, look indignant and demand to see their warrant. After all, it's your property, and unless you give permission or a judge orders the search, you should have control over what you have, right? Yesâ€â€provided you're not a student. If you're in a school environment, teachers and administrators can search without either permission or a warrant.School should search their students’ lockers because school is responsible for their students, no privacy concerns, and to protect students. Every school is responsible for the students and the safety of them. For their safety, schools have the right to search the students’ lockers if they are suspicious about having inappropriate things such as drugs, alcohols, and weapons in their lockers. By searching the lockers, they make sure all the students are in safe environment around the school.Diane Cooper, the president of the East Orange Board of Education says â€Å"Students have to feel that they are protected from unauthorized or unprovoked harassment. †It is the schools responsibility to keep the school safe and clean, and to keep the students protected. There is no privacy concerns while locker searching. Students are merely allowed to use lockers as they keep sports equipment, library books, textbooks, and so on. Moreover, the books and equipments which stay in lockers are the property of schools. Lockers are also originally schools’ property as well and they can be taken back without notice.If the students know that they are going to be in trouble for certain thing, they should not even bring it to school. In addition, being in an agreement for the locker searches is a part of being in a school community where you have to accept the schools’ rules and responsibilities. Students must trust teachers and police officers to perform locker searches and should believe that they are trying to protect students from drugs and weapons, not invading the privacy. According to a new study by the National Center for Education Statistics, about 35 percent of American high school students are carrying or have carried weapons on school property.This is the result of not paying enough attention to the students and not trying to protect them from any weapons. In the article â€Å"State Urges Schools to Begin Random Searches of Students’ Lockers†by New York Times, the State Attorney General, Peter G. Verniero says â€Å"If you’ve got reasonable suspicion for conducting a search, by all means you should conduct a search, because the bottom line is we want to prevent a tragedy from happening in the first place. †If students carry weapons are keep them in their lockers, the accidents always can happen.By searching lockers, we can stop these disaster s from happening. Locker searches are necessary due to the schools’ responsibility of their students, no privacy concerns, and protection of the students. The school should keep the school clean and safe for the students and pay attention to the students. There are no privacy concerns because the lockers are schools’ belongings, and it is part of being a school community to accept school policies. By searching lockers, the school also can protect students from being addicted to drugs or avoid a tragedy from happening.
Saturday, September 14, 2019
Nau company
Ana Innovating for Social Consciousness By Alex Claws Can a for-profit enterprise succeed if its main innovation is valuing social consciousness as much as shareholder returns? The question is particularly relevant in a time of high gas prices and a growing sense that our current consumption of natural resources is simply unsustainable. The founders of Ana, a fledgling retail outerwear company, believed the answer to this question to be a resounding mimes. Built with an unprecedented level of environmental, social, and human-rights unconsciousness, by April 2008 Ana was an underground success on the West Coast, opening five stores and a website selling critically acclaimed clothing collections. Then, at the beginning of May, Nan's board of directors voted to shut down the company. Viewed through Insight's lenses, Nan's promise becomes clear-?along with the perils that led to its downfall. Ana had a reasonable business model built around a well-defined Job-to-be-done. But as will beco me clear, Ana didn't follow an emergent strategy.And Nan's management discovered that a business model that looks good on paper doesn't always translate into immediate profits. Ultimately, a lack of careful execution and a push for quick expansion doomed Nan's first incarnation. But the story of Ana is still unfolding. Ana 2. 0 is currently underway, and that venture appears to have a better chance of success. The Launch Ana (Maori for â€Å"welcome†) began with the dream of Eric Reynolds, an outdoor enthusiast entrepreneur, co-founder (in 1974) of outerwear brand Marmot, and subscriber to the belief that a single individual can have an impact on the world.In the summer of 2003, Reynolds conceived of Ana, a sustainable clothing company that would donate a significant portion of its revenue to nonprofit organizations. Specifically, Reynolds envisioned customers presented with a unique question at point-of-sale: â€Å"To which organization should ‘my five percent' go? â € By giving five percent of its revenue to nonprofits, Ana would break new ground. (For comparison, the most generous corporations give away one percent of revenue, with the average corporation giving less than . 05 percent. ) In the summer of 2004, Reynolds began recruiting a management team.In 2005, he hired a number of individuals away from Patagonia, a firm commonly considered a leader in outerwear, social consciousness, ND charitable giving. Chris Van Dyke (son of actor Dick Van Dyke), an ex-Nikkei employee 1 and ex-Patagonia vice president of branding and marketing, was hired as CEO. Mark Calibrating, a successful Patagonia designer, Joined Ana as lead designer. Patagonians director of marketing, Ian Yells, Joined as vice president of marketing. Nan's commitment to sustainability framed the constraints within which Calibrating worked as he designed Nan's clothing collection.Calibrating avoided any materials that weren't renewable or recyclable while seeking a balance betwe en performance, sustainability, and style. As a result, nearly all of the 30 fabrics utilized in Nan's clothing collection were custom materials developed specifically for Ana. The fabrics -?made from corn, recycled plastic bottles, 100 percent organic wool, and recycled synthetics-?set a new standard for sustainability. Nan's clothing creation process led to a number of innovations, including the elimination of solvent-based adhesives.The efforts of Calibrating and his team were rewarded-?Nan's first collection received critical praise from such disparate sources as Men's Vogue and Rock and Ice magazines. One downside: The fabric choices greatly constrained the range of colors possible, resulting in mostly drab hues. Nan's custom fabrics also required that customers pay a substantial premium for their clothing, but Nan's management team did not see this as a problem for its target customer segments: the affluent â€Å"multidimensional outdoor athlete,†the â€Å"new activis t,†and â€Å"creative. The Ana team expected that their customers' passion for sustainability would overcome any price resistance. Nan's commitment to sustainability was enforced as carefully in its stores as in its clothing. The company eschewed traditional 4,000-square-foot retail stores for a 2,000-square-foot â€Å"Webfoot†concept. The store spaces were long and narrow, designed purposefully with limited space for inventory that would be restocked twice weekly. Ana also offered customers a 10 percent discount and free shipping if they were willing to try clothing in the store, and then purchase it online.Assembled from a modular, prefabricated design, each store featured energy-saving lighting and leveraged materials such as reclaimed timber, toxin-free fiberboard, and recycled resin (for mannequins). Customers were offered a choice of 12 carefully selected environmental, social, and humanitarian nonprofit organizations, and five percent of the purchase price was donated to the chosen group. Nan's values extended to its real estate leasing strategy as well-?Ana only leased store space that was LED-certified (LED certification indicates environmental- and health-consciousness standards).The company also set a minimum age limit for the workers at its overseas material suppliers. Nan's principles included the constraint that the highest-paid worker within the company could only earn a maximum of 12 mimes the lowest-paid employee's salary. Finally, Ana did not invest in marketing or public relations beyond a series of websites, choosing instead to rely on word-of- mouth, a more â€Å"sustainable†form of marketing in the eyes of Yells and his team.While Ana managed to be remarkably consistent in the infusion of its values into its processes, one of the key factors in its eventual downfall was that the company had a difficult time securing financing. At least one investor's legal counsel balked at a contract clause that placed the â€Å" needs of society' equal to the â€Å"needs of shareholders,†but Ana held firm. 2 Nan's business plan called for it to earn more than $250 million in revenue in 2010 and to achieve profitability in 2009 or 2010, figures based on opening four stores in 2007, 20 stores in 2008, and 150 stores by 2010.To build the necessary momentum toward these goals, Ana needed at least $51 million in funding. By the end of 2006, Ana had raised $24 million, largely from â€Å"super angels,†individual investors who included the chairman of Seagate Technology, Steve Lucid, and Stephen Gomez, Nan's chairman and a former Nikkei corporate vice president. Despite the fact that Ana had only reached half of its funding goal, the first Ana store penned in Boulder, Colorado, in January 2007, with three more successful store openings following during the year in Adulating, Oregon; Chicago; and Bellevue, Washington.Ana completed its first year of operation in 2007 with 92 employees, four clothing collections, and four stores. In March 2008, Ana donated $223,000 to its 12 nonprofit organizations, implying 2007 sales of around $4. 5 million. In mid-April, Ana opened its fifth store in Los Angels. In late April 2008, despite raising an additional $10 million in funding, Ana announced that it would scale back its store- peeing plans to a total of five in 2008, down from an already-reduced projection of 10.Finally, on May 1, Nan's board of directors voted to â€Å"wind down its business operations,†citing â€Å"insurmountable financial obstacles. †All inventory was liquidated at 50 percent off and the stores were closed. Post-mortem interviews with Nan's executives suggest that the company was approximately $5 million to $10 million short of the funds needed to sustain its operations and open additional stores towards its goal of profitability.In the days following the decision, many customers commented on Nan's blob, expressing sadness, frustration, and anger and questioning why Ana had failed. Ana: The Post-Mortem Looking at Ana through Insight's business model innovation framework and a number of Insight lenses offers insight into how Ana developed such a devoted following as well as how the management team might have been able to ensure a brighter future for their company. Insight believes that business model innovation is one of the most powerful ways for organizations to achieve new growth.By carefully adjusting business model components-?the customer value proposition (the offering itself), the profit system (how the company creates value for itself), key resources (the critical things required to deliver on the value proposition), and key processes (how the company organizes and acts to deliver on the value proposition) -?organizations can build the type of competitive advantage necessary to create truly transformation growth. Nan's business model looked good-?on paper, at least.But Nan's impatient push for profits made it hard to re ally validate whether the business model would in fact work, and shut all opportunities for learning. Ana pulled the customer value proposition lever expertly. The company created potently positive solutions to a number of emotional, social, and functional Jobs-to- be-done. The sustainability of Nan's operations and products set a new standard of satisfaction for the emotional Job â€Å"Feel good about 3 the environmental and social consciousness of my clothing. Nan's clothing also satisfied the social Job â€Å"Convey to others that I prioritize the sustainability of my clothing over its color and flash. †And, as lauded by Rock and Ice magazine, Nan's clothing also satisfied myriad functional Jobs related to comfort and technical performance. Since its sustainable materials carried up to a 20-percent price premium over more commercially available materials, Ana had to pass the premium along to customers.But Nan's management team was correct in assuming that the high qualit y and the redeeming social and environmental value of its clothing Justified that premium in the eyes of customers -?as long as the economy was robust enough that sufficient customers could afford it. And Ana broke new ground with its â€Å"Webfoot†stores by implementing a retail business model that required lower capital and operational expenditures than a traditional retail store model. But there was a significant downside to Nan's profit-system choices.Insight recommends that new ventures â€Å"be patient for growth, impatient for profit. †Nan's management expected the company to have 150 stores in operation by 2010, but did not expect profitability until 2009 at the earliest. Growth was thus essential to profitability, creating a significant risk of failure if the company could not reach its early-stage funding goals. Insight also recommends that new ventures pursue an emergent strategy, to take small steps by conducting inexpensive tests of its key assumptions a bout the new racket.When the test results are in, the venture can analyze the results, adjust its strategy accordingly, and then conduct additional tests. This careful approach helps new ventures optimize for success while avoiding huge, potentially fatal resource commitments. In Nan's case, an emergent strategy might have enabled the firm to consume its funding more slowly while developing an optimal strategy. Instead, the team decided to go straight to launching full Webfoot's rather than testing the clothing line in a department store or opening a single, test-store concept.The root cause for the failure of Ana 1. 0 seems to have been that Nan's business strategy and some of its business model decisions proved questionable. By following a more careful, emergent strategy and by focusing on profitability before growth, Nan's executives might have been able to strike a better balance between vision and execution. Ana 2. 0: On June 24, 2008, Nan's fortunes turned around. Horny Toad A ctivities, a Santa Barbara-based lifestyle clothing company, stepped in to buy Nan's assets with the goal of re-launching a modified version of Ana by late summer. While â€Å"Ana 2. †Is gust beginning to emerge, early signs suggest that the re-launch will follow a strategy more closely aligned to that which Insight would recommend for success. Horny Toad creates and sells men's and women's lifestyle and outerwear clothing. Horny Toad's tagging, â€Å"every day is an adventure,†introduces a humorous, irreverent, socially-conscious approach that lies at the core of everything the company does. Indeed, Horny Toad and Ana have much in common. Horny Toad's stated commitment to â€Å"lightening its environmental footprint†and to 4 supporting both the community and organizations that improve the world immediately suggest synergies.Much as Ana showcased the organizations chosen for customer contributions, the Horny Toad website highlights its support for causes rang ing from helping adults with developmental disabilities to supporting clean energy, with a wide range of other environmental and community-activist organizations in between. However, in contrast to Nan's commitment to sell its clothing solely through a growing number of its own stores, Horny Toad has only two stores and sells its clothing in a wide variety of online and brick-and-mortar retailers. In addition to a store inFreeport, Maine, Horny Toad runs the â€Å"Lizard Lounge†in Portland, Oregon, complete with music, wireless access, coffee, and ping-pong. Horny Toad clothing has been lauded for its hip funkiness by print publications and blobs alike. Recognizing the similarities between Ana and Horny Toad, Horny Toad felt that it would support its motto â€Å"do well by doing good†by purchasing Nan's assets and hiring its leadership to help re-launch the clothing line. In addition to providing financial support, Horny Toad will sell Ana clothing in the Lizard Loun ge and, in a break from Nan's original treated, through other retailers as well.And, with Horny Toad's support, a percentage of Ana sales will continue to go to worthy non-profits. According to Nan's â€Å"Thought Kitchen†blob, shortly after the relationship was finalized Ana leadership began working to resurrect relationships with company partners and to put together a Fall/Holiday clothing collection in time for October availability. While the Ana clothing line will continue to deliver on the â€Å"Beauty, Performance, and Sustainability' commitment through the use of environmentally friendly and socially conscious trials and methods, a quote from Nan's website gets to the heart of why Ana 2. May very well succeed while 1. 0 failed: â€Å"As we move forward with the re-launch of Ana, you'll definitely recognize us, but we intend to do some things differently†¦ We're going to start small and grow the business organically in relationship to the demand for our product. We'll continue to sell our product at Ana. Com, but we're also going to partner with select retailers who share our common goals. We will not be operating our own retail stores, at least not in the near term†¦ So stay tuned. We're coming back. Smaller and a little wiser, our ambitions tempered a bit by the experience, but our passions most definitely intact. Ana 2. G's strategy will most likely enable the brand to focus more closely on identifying the product, marketing, and channel mix that appeals most to customers, without worrying about the pressures of rapid expansion. Particularly in a new venture, vision and passion tempered by patience and pragmatism is the way to go. This approach is also particularly appropriate in these tough economic times. Satisfying social and emotional Jobs-to-be-done around environmental friendliness ND social consciousness may be enough to earn significant premiums for clothing in a strong economy.However, during an economic downturn, financia l reality frequently wins out as consumers prioritize value over the satisfaction of some social and emotional Jobs. 5 For example, since the economy began to sour, Whole Foods Market has seen some of its consumers move their food spending to more budget-friendly alternatives. Whole Foods has responded by shifting its marketing strategy from a focus on quality and environmental friendliness to an emphasis on discounts, store brands, and reduce value as it attempts to keep its customers.Even if Ana 1. 0 had received enough funding earlier in 2008 to continue operations, economic conditions would likely have pushed the enterprise to the breaking point, as has happened with many other fledgling clothing boutiques. When Ana 1. 0 launched, its management team made an impressive commitment to the company's values, taking steps such as tracing the wool used in its clothing back to the sheep to ensure that they were well-treated and implementing a â€Å"sustainable†word-of-mouth mar keting strategy.To launch the new Ana, it is clear that the team as had to compromise on some of its values, such as the control provided by company-owned storefronts, a grassroots-only marketing effort, and potentially the level of contribution to nonprofits. In the end, however, the Ana 2. 0 strategy, with the help of Horny Toad, may be the key to enabling the company's sustainable operation. Making their operations as sustainable as their values will help ensure that Ana is able to be a force for good in the world for a long time to come. For more information: http://www. Ana. Com/coming-this-fall. HTML (Accessed 8/29/08, 1 :41 pm) http:// www. Gibbousness. Com/CGI-bin/magma/article. Pl? Articled=30412; http:// gratifiers. Com/content/fullest/? Acid=50781 6 Innovator's Insight In Need of an Innovation Fill-up By Stephen Hunker Recent news that Consulship's will be selling all 600 of its U. S. Service stations for $800 million comes as little surprise. Oil companies are facing ext raordinarily attractive investment opportunities in exploration and production, and the service station business has been tightly squeezed between rising wholesale costs, inability to pass along those cost increases, and falling demand as driving declines.Clearly the station's buyer-?closely held Peterson Fuel-?sees it differently. We do too. In our view, Peterson Fuel is buying cheap assets with lots of innovation headroom. While â€Å"stick to your knitting†is a popular business maxim, it is of course common to find diversified businesses. There are several reasons diversification can make sense: ; If the new business can share costs and customers with the core business-? in this case, owning both enterprises can provide scale economies, improve distribution, create a better buying experience, and other advantages.This is why many European parameters have service stations outside their doors, for example. ; If the new business provides a useful hedge against a core with vo latile returns but a need for consistent investment. This explains why many pharmaceutical firms own over-the-counter consumer healthcare brands. ; By diversifying, a firm can hold on to a seemingly unrelated business because it sees substantial headroom for growth and a right to triumph in that arena. This is one reason News Corporation bought Namespace. Historically, oil companies owned service stations for each of these reasons.The end nonuser drove demand, and having direct access to that consumer allowed firms to exercise some control over demand levels while also gaining precise information about what products were demanded where. Profits from service stations could offset volatility in exploration and production. Also, the advent of convenience stores at service stations created a new high-margin business. Each of these Justifications for integration now seems threatened by changes such as improved information technology, more efficient capital markets, and communication of t he service station experience.With supermarket-owned service stations now coming to the United States, oil companies face new competitors who may even sell gasoline at a loss in order to drive traffic into their stores. In the I-J, pressure from supermarkets is a factor leading to the net closure of 600 service stations per year. The service station business is looking much less attractive than it used to. So, what might Peterson Fuel be thinking? We imagine two major Justifications for the investment. First, if oil prices decline, the profit margins on service stations may rise, and Peterson will have bought valuable assets for a song.Second, there may be much more innovation headroom in this business than oil companies have traditionally assumed. For instance, Fullness Media International offers local news, weather, and sports on screens at pumps at a few hundred stations. Fullness pays the retailer and shows ads to this highly captive audience. Shell is experimenting with fuel pu mps that are activated simply by a swipe of a fingerprint. Dutch inventors have created a robotic arm that finds a car's fuel cap, unscrews it, and automatically pumps gas. Regional fuel retailer Sheets differentiates itself through premium coffee and made- o-order sandwiches.Another retailer, Valier, is piloting 5,000-square-foot convenience stores with fully nonwhite of the space dedicated to fresh food and other perishables. Oil companies would be well-served by thinking through how well the jobs of their customers are getting done, and whether they can De-commoditized the service station business through new propositions or re-definition of the competitive set. Looking through this lens, we can imagine how a mother could prefer a certain service station because it offers very fast, targeted entertainment for bored children n the back seat, or how a senior might prefer one with very brightly lit displays.The advent of electric- and fuel-cell-powered vehicles opens further possibi lities for using service station real estate in new ways. Look at how Best Buy reconciled what an electronics retailer could be, and how it escaped industry communication in the process. While Wall-Mart and others cut prices ruthlessly, Best Buy rolled out Geek Squad-?a service tightly integrated with its retailing business that addressed a wide swath of unsatisfied Jobs its customers faced post-sale. It also became a place to try new videotapes. The store is even trying to become a hub for musicians buying electric guitars and other gear.In the process, the company increased revenue 92 percent over five years, almost entirely through internally generated growth. It turned out that electronics retailing wasn't a commodity business at all. Sometimes a dog business is Just a dog business. MM spun off its floppy disk and magnetic tape business in 1996, and that turned out to be a smart move. But we find it hard to believe that there is little room for profitable innovation in a retail business that hundreds of millions consumers have to visit on a regular basis.When the finance people come knocking, looking to sell downtrodden assets and invest the proceeds in high-flying businesses, lock the doors for a bit. The business may indeed have few prospects. On the other hand, it may support the core business in many oblique but important ways, and it may have far more innovation headroom left to exploit. – â€Å"Consulship's Will Sell Its Company-owned Service Stations†, by Brett Clayton, Houston Chronicle, August 27, 2008 (http://www. Chronic. Com/disk/story. Ml/business/energy/5969574. HTML) 8 â€Å"Finding the Right Job for your Product†, by Clayton Christensen, Scott Anthony, Gerald Brewster and Denies Meetinghouse, Sloan Management Review, Spring 2007 (http://www. Insight. Com/innovation_resources/research. HTML? Id=167) 9 Innovators' Update A Good Start for Amazon AMP Amazon's digital music store keeps sailing on the winds of industry change s Insight #98 from October 2007, â€Å"Handicapping Amazon's Low-Cost Music Store,†suggested that Amazon might find the results of its then newly launched music download store disappointing. What has happened since?By Renee Hopkins Callahan When Amazon launched its Amazon AMP online music download store in September 007, we were skeptical. At the time, Apple had sold more than 100 million pods and tunes had a lock on the online music market. Amazon AMP planned to sell music free of Digital Rights Management (DORM) protection-?a limited supply, since at the time only one of the four major music labels had agreed to make its music available without DORM protection. Amazon AMP seemed unlikely to succeed with a business model focused on undercutting tunes on price, selling songs for 89 cents instead of 99 cents.We were right that the low-cost strategy would not put much of a dent in the popularity of Tunes. Yet circumstances in the year since its launch have helped Amazon refine its strategy and offer a preview of possible success. According to NYPD Group research released in late July, tunes remains on top of the music retail pack. It is the largest music retailer in the world and it sells at least 90 percent of digital downloads in the U. S. However, the same research showed that Amazon AMP has grown to be the fourth-largest retailer of music in the U. S. , behind tunes, Walter, and Best Buy.That puts Amazon AMP in second place for online music download sales. And while here's still a huge gap in volume between tunes and Amazon AMP-?with Amazon's share of the market in single digits-?Amazon is in the game. However, Amazon hasn't accomplished that by stealing tunes customers. Russ Cropping, an entertainment industry analyst for NYPD, said in an April 2008 report that only about 10 percent of Amazon AMP customers used to be tunes users, with the other 90 percent likely to be people who had been using other services or were new to digital downloading.Amazon AMP attracts young adults age 18 to 25, while tunes' strongest demographic is teens age 13 to 17, another April 2008 study said. Amazon has likely benefited from winds of change blowing in the music industry. A number of analysts have speculated that the industry sees Amazon as an ally in an effort to break Apple's dominance in digital music. It would seem counterintuitive that the music industry would want to bypass its richest retail channel. But some of Apple's practices cut profits for the major labels.In late August, the Wall Street Journal reported on a growing trend in the music business: labels deliberately withholding some of their music from tunes. The article cites several cases in which albums were either not made available on Tunes or were pulled. Why? While consumers strongly prefer purchasing music by song, music label executives, managers and even some artists dislike the tunes policy that requires that music be made available by the song as well 10 as by the album, because profit margins for single-song sales aren't nearly as good as the margins for album sales.Meanwhile, Amazon AMP lets labels sell music the way they want to. If a label wishes to make an artist's work available only by the album, Amazon AMP allows it. Some of the music that the labels have been withholding from tunes is ending up on Amazon AMP. The DORM issue has worked to Amazon's benefit as well. Apple's tunes has historically sold Deteriorated downloads. Such encoding means that songs downloaded on tunes cannot be played on other AMP devices. Apple has worked to persuade the major labels to drop DORM, though it still seeks to keep tunes the only source of song downloads for the pod.At the time that Amazon AMP launched, only MIME, one of the four major music labels, had announced it would drop DORM protection on its music. By early January 2008, a few months after Amazon AMP launched, the three other major labels-universal Music Group, Warner Music Group, and Sony BMW- dro pped DORM. That meant their music could be made available on Amazon AMP, which does not use DORM, and which features free software that delivers a customer's AMP file directly to their tunes library.Meanwhile, according to a May 30 Macdonald magazine story, â€Å"Sony, Universal, and Warner continue to withhold the unencumbered tracks from Apple, choosing instead to back tuner's rivals. †Amazon may have more surprises up its virtual sleeve. In late July, Fortune magazine reported that Amazon was in talks with Namespace about becoming the social networking giant's download store partner hen it rolls out its highly anticipated Joint venture with Universal, Warner Music and Sony BMW in September.If the deal goes through, it puts Amazon in a good position to continue nipping at Apple's heels. According to the Fortune report, Namespace plans to let its 120 million users stream entire songs before downloading them. That potentially changes the convenience trade-off for the Namespa ce customers in Amazon's favor, because they would be able to buy a song and get it into their computer's music manager, even tunes, with one click using Amazon's software. Those who wanted to use tunes would have to leave Namespace and physically go to Tunes to accomplish the same end.Clearly, we underestimated the desire of other companies to develop a reasonable Number Two to Apple, a position that Amazon AMP seems to have grown into in the last year. If Amazon can figure out more ways to capitalize on its toehold position in the digital music business,
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