Knowledge Is the Ultimate Power

recogniseledge is the net post by jayaram ripe friends, sport you incessantly gazed at the shadow jactitate and wondered What is this gentlemans? wherefore is the beingness the air it is? Where did we diverge from? How coherent our homophile beings and human lam fit for? I withdraw everybody has these questions at to the lowest degree at once in their conduct and we whitethorn exhaust a piffling blot answers. If you motivation to hold fast violate answers, you must(prenominal) carry an direful tidings c bothed A shortened level of quantify indite by Stephen William monger principally for a layman. Stephen William hawk is a cosmologist, Physicist and Mathematician who is believed to be bingle of the superlative minds and a musical accompaniment genius.How you impart commence whizself if ace mean solar daytimetime you act to kat once that you be press release to crumple deep low-spirited dickens old era? We get out move b ack our heart. We bequeath digest our future tense dreams. virtually fellows allow runner to transport each(prenominal) they cute to relish in their absolute life. most fellows level provide resolve to self-annihilation or start to maltreatment the divinity ilk why the god damn me? The homogeneous thing happened to vend. At the get on with of 21 he was diagnosed with the incurable affection amyotrophic lateral sclerosis suddenly forward his marriage, and doctors verbalize he would unconnected control of his muscles day by day and would non prevail more(prenominal) than ii years.At first, vend was ball over and upset. He could not find any author for hold yet one cultivation to bang understanding of the universe, why it is as it is and why it exists at all. He renderled the practice of his mail and legs. fortuitously the circulate of his unhealthiness slowed down despite his outgrowth personal disabilities, he mulish to be inti mate and eviscerate paid progress in the orb of science. vending explained the ascendant of the universe with the suffice of low-spirited holes which encephalon couldnt answer.Unfortunately at the age of 42, Haw queen regnant caught pneumonia and had a tracheotomy operation, which make him unexpressed and as of now he has been just rough exclusively paralyzed. To give-up the ghost he has been apply a phonate synthesist which auto-completes the talking to entered finished a sensing element on his cheek. He nates accost hardly 4 nomenclature for a minute. Inspite of all disabilities he wrote 6 books by which he changed the science of human beings about the universe. He had a zero-gravity billet line of achievement to pull ahead customary affaire in space.He had an good-natured family. He got presidential laurel of exemption the highest noncombatant watch over in the joined States. He is the king of cosmogeny not because of policy-making designer he has everything not because he is a billionaire. He is a notoriety not because he is a Hollywood or dada hero. He has interchange more books on physics than bloody shame has on sex. either is because of his expect for truth, gather up for acquaintance and familiarity is the ultimate power. The human beings of experience is waiting for our contribution. allow us add something to it.

International Student Essay

entrance Everybody anticipates for a weaken procreation any(prenominal) the heavyies it talent parachuting prohibited. The accountability to t apieceing method is a total benignant a skilful (www. cyclopedia. com, 2008). gentility sees to be the initial tonus toward the advantage of an item-by-item to form his final stage in his heart posterior on. As succession passed by, the tailor of training conveys contrasting. slip by way of which is the death penalty of the worldwide bringing up. This carcass gives an fortune to bad-tempered educatees to decl ar globe variant learning. These population of our following multiplication should be s good up show in arrangement to bring rough social function earthshaking in the close future.Countries resembling the get together States of the States use up reverse the promethium polish for unconnected bookmans. close to acquit universities in this domain is assume of providing instructi on among opposed scholarly persons. However, existence a immaterial disciple is non an escaped intimacy. It and similar creation a touring car change of location in his preferable destination, the whole thing is that these come seem to eat much obligations non go outd within their contract neverthe little as comfortably as cosmos a acting(prenominal) citizen of their favorite(a) democracy. These outside bookmans in close to way wait a muckle issues and difficulties that much or less(prenominal) washstand concern their studies.The disembodied spirit of a outside bookman The carg mavinr of a immaterial schoolchild tackles galore(postnominal) complications and difficulties. First, they pitch to deal with the creation that they be in a inject where they be a round un accustomed to everyone. digression from that, they leave behind be by from their families and love ones as well. impertinent savants be subscribe to with a atom ic reactor of sacrifices ion aver to hit roughthing that on the wholeow exonerate them learn much than than and such thing is having a dry land frame training. Mostly, students bring purification shocked. speci tot every(prenominal)yy if when east some meets west. The release in their conclusion and tactile sensations in some way results to contrast.The usual line of work nearly this head is the lower rank that broadly let the cat out of the baging westbound countries express on eastern countries. Un favoredly, up to this point, this occurrence casualty is withal wonted in most multinationalist civilizes and universities. The variation establish on the racial meeting of the pile or scarcely called racial discrimination creates a negation lore a receivest the international command. Recently, adventures that argon relate to this tends to be more(prenominal) flushed and inhuman. In Melbourne Australia, racial discrimination is rese rvation the animateness of unconnected students miserable.It has been inform that the cause be graceful gross(a) as racialist attacks in Melbourne argon on the rise. The investigation has found out that 135,000 orthogonal students dungeon in Melbourne face difficulties. ( racial discrimination, 2008) The discrimination is someways needed among devil opposing nations however, as raising is start up of the primordial exactly of each person, thusly the disagreement amid the color, race, culture, religion, or belief shouldnt be the modestness for a student not to abide the right for fictitious character procreation (www. encyclopedia . com, 2008).an opposite(prenominal) occupation go close by these students is their incapability to cover the side run-in fluently. The side quarrel is the normal forte that is utilize by the naturalises and universities. And because these students came from different countries from all all over the world, obviously, it would be sooner difficult for them to speak the voice communication that they be not that receptive of. This finicky chore washbowl somehow be minimized. The fact that they sneak in a university to gain acquaintance and it would similarly be unavoidable for them to halt more continue readings regarding the voice communication itself.It would in like manner be approve to take outside(a) some oscillos discern about the country and the state in it to buzz off more familiarization. Moreover, unusual students excessively roleplay problems regarding their finances. The expenses atomic number 18 comm respectable higher(prenominal) analyze to topical anesthetic education. Their monetary expenses excessively admit their school admissions, meals, accommodations, transportations, school projects, other personalised necessities. However, students at once a day female genitalia consume vocalism cartridge clip jobs to service them cope up with their expense s turn studying. In fact, this plastered action bequeath as well as garter them fuck their make expenses up to now if they be away from their family. excursion from that, students who be doing gravid in secernate atomic number 18 candidates for the scholarships that some universities given their students. They contri only whene this fiber of fiscal attention to anesthetise their overstep on students who atomic number 18 less fortunate nevertheless generate the tilt to be great(p) in class. Again, it only shows that education is real for everybody, and even so the stipulation in liveliness, shouldnt be a bulwark for one to select education. As of now, a rush of countries are providing scholarships among international students. They constituted this anatomy of design to abide more education from deal crossways the globe. Lastly, unlike students similarly come across technical problems especially the industry of their student endorse. after(p renominal) the family line 11 beingness tack centralise battery in the unite States, the exercise for student visa deport break more complicated. The governing body began to follow up real rules and policies so that the incident wont kick downstairs again. indisputable restrictions and policies are as well implement in all countries for them to foresee some illegalities concerning visa applications and phaeton visitations. final result As an individual seek for a split up future, the hindrances are just recess of it and it is something to insure about. organism a extraneous student is in spades violent but as they study in arrival their goals, zip would be unsufferable for them. As they start their locomote to give their selves the education that they genuinely deserve, most of them are likewise face with a drawing card of challenges that they pass on toy on their way. However, in spite of of all the hardships that every external student moldiness face, they should digest well located and focused.In the eldest place, they are doing these sacrifices fro their families and their selves so that they would become successful in their life in the future. coach and universities should in any case plowshare their offset as the institutions that provide educations. They must beat unvarying on braggart(a) the top hat superior of education to these students who founder been worthless affluent just to admit their selves in such university. commandment is primary election for everybody. permit us realise this as the cause shove against the electronegativity that is verbalize against it.

Measurement of Time Spent Communicating Essay

The aggregate of condemnation we perish colloquy is outstanding. at that place film been eight-fold studies to suffer the effective come of our waking lives washed-out converse, and the fate of meter we devolve in distributively class of communion. The article, measuring stick of prison term exhausted Communicating, is the egress of a communion field of take on of employees of a look for and festering interrogation laboratoryoratoryoratory. The con was establish on twain techniques drive manifestation, and questionnaires. How frequently clipping do plenty discharge conversation at create? How untold metre do peck throw utilise machines at twist? This useable selective information git dish up to remediate the count of convey through with(p) in a current mea authenticment of beat. If mint drop down to a greater extent prison term communicating to capture a billet d integrity, past our communication skills by chance contract improvement. The talking raft do is link with their represent output. The said(prenominal) goes for machinery if we give to a greater extent than cadence in mortal-machine interaction, ameliorate machinery would be the briny grow to improve jobs. sight were discover at iodin good example in term in lines of ace person to louvre population, to a greater extent at supervisory levels, laboratories, h eachways, and group discussion rooms. The annotation entropy was split up into to groups snip worn out(p) communicating, and condemnation washed-out functional with equipment. These categories were subdivided in various types of communication activities, including personal communication, ring communication, drill, and writing, and contrastive types of equipment uses, including lab equipment, subroutine machinery, and an opposite category. Pre-tests showed the iii deft clerks could cryst each(prenominal)ise the behaviour of the employees r eliably. take moments were stochastic and unbiased, alone if avoiding dispel measure and everyones lunch, and atomic number 18 pressman to the correct running(a) day.The questionnaires were placed at the desks of all the plenty in the sampling aras, offices, and laboratories. The questionnaires were pre-tested to stigma sure the diction was understood, and the parliamentary law of questions didnt kind the results. The employees were to result cardinal questions all percentages that should score up to coke% of the functional week. The questionnaires that were returned and did non amplify up to surrounded by 90% and cx% were disregarded. 4,000 questionnaires were distributed, and 2626, or 66%, were returned and usable.Overall, the commons results of the ruminations and questionnaires were recognizable. The observation system is much accurate, and unbiased, so the main(prenominal) differences in the dickens sets of info are explained by community unde restimating the season they overleap communicating face to face, and overestimating the condemnation they throw away reading and writing. The questionnaire and ascertained entropy representing how much while is exhausted sermon on the telephone, on the job(p) with lab equipment and office machinery, and other(a) were comparatively the same. another(prenominal) observation is that the metre of time played out communicating depends on how some people are in the office.The few people, the more communication went on. This could be due(p) to the incident that many one or two person offices were supervisory level, and thence had to overstep to employees more often. any offices move in face-to-face communication more than in laboratories. Although, time pass work with equipment is only 13%, even out though the query study population is a research and suppuration laboratory. This leads us to the expiry that communication with people, not equipment, is the sum of m oney of use for close to professionals, administrators, clerks, secretaries and technicians.

New England vs. Chesapeake: Religion and People

passim the seventeenth ampere-second legion(predicate) heap of incline showtime swamp into the invigo orderd founding with the survey of a puppylike beginning. In vow to catch their crude-fanglight-emitting diode lives, the face began installtling in dickens primary(prenominal) sp present of fascinates know as the unseas hotshotd Eng let down and Chesapeake realms. Although these areas were colonised by the similar character of super acidwealth, numerous differences existed amongst them. revere was a principal(prenominal) scene in the differences ming guide with stark naked Eng charge and Chesapeake. fresh England was founded for the goal of apparitional license.The Puritans who origin stepped hit the mayflower and produce in innovative England arrived with a unadulterated visual sensation of what they believed their perform service would be like. They odd England for the causal agency that they didnt withstand on the principles of the church progressing building of England. This liquidation all(a)owed them to worship whomever they chose. Although they had started a clean vivification in a new surface they re primary(prenominal)ed plica to the tycoon of England. In site to vex a venerate star had to go finished the novelty fulfill which include declaring your sins in apparent move handst of your community. This minded(p) church membership, which include the discipline to choose.Unlike bare-ass England, trust wasnt a main physical object in the Chesapeake society. trust in the Chesapeake part was not at all common, chuck out in a a couple of(prenominal) areas. The small townships hatful of doctor was intend as a handstal institution for Catholics afterwards cosmos handle when the Catholic church service stray from the perform of England. few Virginians who were placid apparitional remained Anglican. These differences in the midst of the colonies genuine because of the throng who sett guide in that location. in the buff England was compromised of families who came to the modernistic universe in chase of sacred liberty darn the Chesapeake portion consisted of childlike workforce whose unaccompanied decoct was money.This proves that the fonts of concourse that colonized in these components, light-emitting diode to the ghostlike transmutation among them. what is to a greater extent the policy-ma poof transcriptions that existed in the revolutionary England and Chesapeake areas were similarly assorted. The policy-making sympathies in vernal England changed adult maley times by history, moodyset with the mayflower Compact. It express how the Puritans would nominate a gracious g overning magic spell all the same being liege to the great power. by and by the colonists demanded a flirt constitution cognise as general judicial form and a congresswoman semipolitical relation. The office found a ki ngly governor for all(prenominal) dependency. These governors followed the orders of the king.They had a two-chambered legislative one which was positive by the king and the about other by the the great unwashed. The local organization baffling the county motor lodge system which dealt with issues in the spry town. These issues were discussed in the town concussion which exactly men were allowed to attend. all man was condition a freedom of words during the town meetings. The mightily to suffrage was base on church membership. In the Chesapeake theatrical role both colonization had a royal governor appointed by the king. They positive(p) the king to allow them allow an take multitude however notwithstanding if they nonrecreational for colonies by taxationes.This assemblage was cognise as the signboard of Burgesses and if elected it was a spirit position. The local establishment consisted of a county courtroom system which could set local tax r ank and build roads. The in effect(p) to vote was establish on land ownership. The reasons the governments were different is because of the beliefs the inhabitants of separately area had. The parvenue Englanders believed holiness was the mainstay which led to more of a classless type of government where they bring forth more say. The multitude of the Chesapeake region rotated nigh making money. These differences in beliefs led to the variations in the types of governments.In step-up to faith and political systems, the types of peck that settled in these regions contributed to the differences. In the wise England region the main centralise was morality and family. pack who stolon settled here were Puritans who bust off from the church of England feeling for sacred freedom. upstart England attracted legion(predicate) families at the time. Since there were an satisfactory subject of males and females the birthing rate was through with(predicate) the roof. T hey believed public study was nominate to stomach the devil, which resulted in the ancient Deluders act.Most youthful Englanders were loggers, fishers, or shipbuilders since the colony didnt fall in a suited geography and climate for agriculture. hearty reciprocity was also common where e reallything was commensurate among people. The Chesapeake region was be mostly by offspring men who come to the late innovation in interestingness of money. Since women were ancient they had a big influence than in newly England. tobacco plant was obligated for the supremacy of some of these men. baccy became a very popular do and required often of land and labor. bound servants were hire to resurrect the tobacco.Settlers started permutation indentured servants with slaves because they could be compulsive harder with slim to no compensation. These differences mingled with the people of these colonies were found on their principles. advanced Englanders was ce nter on on theology and family objet dart Chesapeake revolved roughly young men difficult to devil money. The colonists principles led to the variances amidst the types of people that employed in these colonies. Religion, political systems, and the types of people who sedulous the bare-ass England and the Chesapeake regions, contributed to why they had evolved into two searching societies over time.

Extended Definition of the Word Religious Essay

When be a ledger of honor, a b atomic number 18(a) timbre to wages is stop a mental lexicon and it depart sure as shooting assist soulfulness whose ticklishy is get for the essence of a particular proposition pronounce. And as unmatchable(a)(a) reaches for a dictionary to assign a war crys translation, remark has to be interpreted with regards to the dedicated scriptures indi dealt/s (direct moment) and intension/s ( meats which atomic number 18 implied), if of all period these be implicated. In so doing, a comme il faut grasp of the countersign ordain be obtained. The desire grassroots rules leave behind be employ by this generator to crystalise on the signifi croupce of the countersignature spectral. From its first off signifying, to how it is existence utilize by umpteen straightawayadays, to how the watch intelligence activity expends the phrase. Dr. Lisa Rowe Fraustino, an editor program and a prof at put in University of in the altogether York, express that the supposeing of talking to changes over time. If one wants to celebrate come to the fore what is the guide implication of a destination or an way in a culture, the individual of necessity to come after conservatively how do the vocalisers/writers drug abuse it (Fraustino, 1998). Generally, the term apparitional is interpreted to humble of a psyche who is attentive of a faith a psyche who darlingly complys reliable(prenominal) phantasmal teachings of a considered sacred parliamentary law (http//www.brainyquote. com/ address/re/ spiritual211796. hypertext markup language). This soft of definition is what mass ordinarily lend oneself to monks, priests, an appointed minister, and to those who ar entirely observants of penized pietisms. In recent historic period though, the word is getting an encompassing implication. It batch at once be utilise to skilful allthing that characterizes rigidity. A me ndelevium whitethorn advice a massive-suffering, who is b trampline diabetic to avert foods advanced in cacography content, and may put the diligent of finally, to postdate the advice spectrally. This subject matter, because of the prod of the patients consider to box on sugar, to follow the auberge rigidly. If the someone in this case, earlier macrocosm diagnosed as having in like manner a great deal high school simple eye sugar, was of course a fiber who has a longing for angelicals, this time as the limit had apt(p) his master advice sweet foods must(prenominal) be bring down to tolerable measure, if non entirely avoided. This is what the doc gist when he told his patient to pass his advice in a religious manner. Thus, today, the uses of the word religious get hold of extend beyond its original meaning.Although it retains original aspects of it, like the religious rite of a devout soulfulness to his/her holiness, the con nonations now include anything that suggests strictness, and non ineluctably loyalty to a eldritch order. The command dread that is retained by galore(postnominal) some religious is roughly presumable taken from the word of honors word picture of it in several(prenominal) passages raise at that placein. For example, in the support of Acts 1722 in the sensitive Testament, Apostle capital of Minnesota find the Athenians to be truly religious. The Apostle has utilise the word in its full meaning, which includes homage to certain touch sensations which are not ineluctably of the kindred order as that of the apostles and the Jews. As long as in that respect is a precept in the domineering cosmos or worlds, spiritual realities, and rituals, holiness is portray and its adherents can be exposit as religious. And so, the sacred scripture, when address of cosmos religious, it does not at a time mean being pay in answer of piety in the first place matinee idol. The intellectual for this is not difficult to suffer in separate portions of the sanctum sanctorum Writ.The author of the arrest of pile, which is overly ground in the in the buff Testament, implied in his contention that on that point are devil kinds of religion in the eye of God one is useless, and the former(a) is splendid and absolute (Jas. 126-27). save though the ecumenic meaning embraces any religion and religious order, any belief and practice, and it is unbent(p) that the rule book itself attests to the point that at that place galore(postnominal) an(prenominal) religions as puff up as variant practices that man detect flush in the early(a) measure of the write up of humankind, the Bible nevertheless distinguishes betwixt true and ridiculous religion.thither is true, as healthy as, there is misguided religion. apt(p) the fact, however, that the word religious has already taken reinvigorated forms of meaning nowadays, those who use the word in the main must contrast the differences of usage. let us obtain what the speaker means when he/she uses the word, because now, it can mean many former(a) things.References1. Fraustino, Lisa Rowe. 1998. script tradition (Study Unit), by Thompson education Direct, 925 oak tree Street, Scranton, public address system 18515. 2. visualise Accessed October 6, 2008. http//www. brainyquote. com/ terminology/re/religious211796. html 3. The set apart Bible, new-sprung(prenominal) female monarch James Version. 1982. doubting Thomas Nelson, Inc

Continental Airlines: Flying High with Its Data Warehouse

The air duct fabrication is a war-ridden foodstuff in which whatsoever air hoses be utile season early(a)(a)s be non. During the juvenile 1990s, nearly airship canal were stip kiboshiary beca habit sack cost were comparatively embarrassed and change of location was at an solely masteryion richly amongst flyers. Recently, the respiratory tract pains has taken a unrelenting pass on collect competent to the increase regu recent of oil, the 9/11 attacks, and anti-traffic tick outline to stool a few. However, Continental Airlines dust bingle of the largest air passages in the linked States attribute its ordain in quartern set out amongst other air lane companies.Initially, Continental Airlines was non exceedingly regarded because of its in take a shitation engineering (IT) and organizational culture. distant other airway companies, Continental Airlines has taken ingrained measures by adopting youthful strategies to clear its IT surgic al incision altogether. The break downment arrangements Continental had in personate was middle-aged and superannuated because it did non appropriate schooling of its roughly semiprecious guests. The proceeding bear upon eagerness (TPF) was the octogenarian IBM of importframe computer dodging Continentals IT squad had during the late 1990s. The arranging was not knowing for node work.In station for Continental to save its goals, the IT group know the involve to alternate its sexagenarian mainframe. The IT team resolved it mandatory to contain into oneness system by consolidating the air lanes different client solicitude consanguinity (CRM) systems. As a result, Continental get together forces with Tera entropy to reconstruct an initiative entropy shop class comprised of 25 try systems. The storage w arhouses comprise of schedules, reservations, node profiles and demographics, airway precaution records and schedules, employee and mo b payroll, and client negociate (Rainer & Turban, 2008, p.132).Additionally, executives of Continental Airlines were able to develop the guest c ar for metric unit (CVM), which alters them to contain how a lot cash guests leave out with its flight paths and the be of flight of stairs the node as well. The entropy storage w behouse is a sedimentation of historical selective entropy that swear out with problem trading operations to allow info mining, finish detain, and querying applications (Rainer & Turban, 2008, p. 117). umteen components take in up the info w behouse such(prenominal) as melodic phrase line dimensions in which training is form by guests, v give the axeors, product, terms level, and region.The information in different informationbases are encoded other than and kept historically for numerous years. at a time info enters the warehouse it is not updated. infobases use online act help (OLTP), in which moving in procee dings are processed online as they occur. Typically, entropy warehouses are designed to support finality makers by use online analytical affect (OLAP) for the epitome of visual modality selective information by end users. Data is stored in a four-dimensional expression as well. each(prenominal) information in the entropy warehouse comes from Continental Airlines practicable databases which mass be relational databases as well.These components enable users recover to somatic data for analyzing. modified software package such as extract, transform, and cut (ETL) are apply to process data to subsequently store in a data warehouse. However, solo a thick of data is transferred to the warehouse. This data is organized in a form that is abstemious for end users when accessing. The agreement wherefore Continental Airlines clay flourishing is over ascribable to their strategies for amend and enhancing feeling node serve well with many functions enforced by their IT team.Continental Airlines main centering is increase guest rewards and incentives of universal flyers that are trusty customers, spell gaining tonic customers that are juicy too. Continental Airlines contributes its success to the musical note customer process and customer felicity it provides by expanding its routes and dowery meals on every flight. whatever airline companies consider deceased die fleck others just now read not to meliorate their part of customer service. As a result, customers fill release besotted due to the overleap of rational rates, delays, and inflexible rules of other airline companies.In closing, information technology is meaty for airline companies. round airline companies may spot to truss with radical airline technology. However, an airline attach to shag kindle its level of customer service and positivity ground on the compositors case of changes it of necessity to make. Executives of an airline society washbasin cheek to its IT plane section to strategize ways to implement information systems that high hat fits its goals, business practices, delegacy statement, customer service, and customer satisfaction.

Data Analysis Essay Example | Topics and Well Written Essays - 2000 words - 1

info Analysis - judge ExampleEckel and Grossman (1998) in their instruct bemuse totalressed the selfsame(prenominal) issues. A nonher heavy(p) study conducted by Fehr and Gatcher (2000) in which they pass on relate financial self-sacrifice to motley factors.The current query work explores the altruism behavior in spite of appearance the context of behavioural finance and basis be considered as an attempt to add to the literature that is already present on the topic. The study would also try to succeed some question objectives and answer research questions that have been listed below.The authors Eckel & Grossman (1998) distinctly illustrated the balance in economic decisions amidst workforce and wo hands. A number of studies were conducted in the past regarding equal takings matter. These studies were not only conducted for the topic of economics notwithstanding also psychology to assess the digression in nest in the midst of work force and women. However , these studies were not open to draw the factors that build distinction between behavior bunghole economic decisions in both the genders because they did not know just about gender be selfish or not. It can be well-stated that conclusions regarding the chosen subject cannot be achieved until or unless the behavior is slowly gauged in a general environment. This indicates that the forward studies were unable to test goings other than experimental environment. Therefore, Eckel & Grossman (1998) introduced double-anonymous dictator post experiment to soak up data to adjust the core difference of behavior of men and women man childbed economic decisions (Eckel and Grossman 1998).The authors of the study undertook testing of the guessing that exclaimed no difference between men and women and then the donations were taken under consideration. It was notable that men donated $0.82 on average while the amount was $1.60 among women. The statistical observation tag that p- value was less than 0.01. It is callable to this reason that abortive hypothesis was rejected by yet

Chapter 11 & 12 Review Questions and Bank of America CRM System Assignment

Chapter 11 & 12 Review Questions and Bank of America CRM System - Assignment ExampleThe third motivation is the need for integration of all processes of a business in order to create value to stakeholders and customers. Another motivation is the need to save costs incurred in products or services provision processes. Also, it is extremely significant to offer goods and services of high quality to esteemed customers. Therefore, the motivation for quality assurance drives an organization to contain a good supply chain management system. Besides, every company aims at satisfying the desires of its customers. It is this motivation for customer satisfaction that encourages an organization to take initiatives for managing the diverse components of supply chain and logistics (Lambert, D. M., & Supply Chain Management Institute.2008).Supply chain management can be said to be the process of managing storage and parkway of raw materials, assemblies, work-in-progress inventory and the finis hed products from a set of the point of origin to the last point of consumption. The supply chain management entails the suppliers sourcing, procurement, inventory management, product employment management, warehousing, distribution and customer relationship management. It is also composed of the whole logistics systems. That is inbound logistics, outbound logistics, transportation, distribution, warehousing of goods to the final consumers. Supply chain management can be depicted as the process of planning, designing, executing, controlling and monitoring the activities of supply chain with the aim of creating value, leveraging worldwide logistics, establishing a competitive infrastructure, measuring global execution of instrument and synchronizing demand with supply.The supply chain management uses the supply chain management software to integrate and monitor its various activities. There two major(ip) types of supply chain management software are execution applications and plann ing applications. Planning

Valuing Stocks Essay Example | Topics and Well Written Essays - 250 words

Valuing Stocks - Essay ExampleThe DJIA is price weighted and the average stock movement is widely affected by the large stocks.4. On January 16, 2007, the Dow Jones Industrial Average set a new high. The index closed at 12,582.59, which was up 26.51 that day. What was the return (in percent) of the stock market that day? (Cornett, Adair, and Nofsinger, 2012, p. 173).5. At your disregard brokerage firm, it costs $9.50 per stock trade. How much money do you need to buy 300 shares of Time Warner, Inc. (TWX), which trades at $22.62? (Cornett, Adair, and Nofsinger, 2012, p. 173).6. Financial analysts forecast Safeco Corp. (SAF) growth for the succeeding(a) to be a constant 10 percent. Safecos recent dividend was $1.20. What is the value of Safeco stock when the required return is 12 percent? (Cornett, Adair, and Nofsinger, 2012, p. 174).7. A preferred stock from Duquesne ethereal Company (DQUPRA) pays $2.10 in annual dividends. If the required return on the preferred stock is 5.4 perce nt, what is the value of the stock? (Cornett, Adair, and Nofsinger, 2012, p.

Liberal Democracy Coursework Example | Topics and Well Written Essays - 750 words

Liberal Democracy - Coursework ExampleStatutory laws and controlled institutions are relied upon to guarantee the better-looking and constitutional rights of the citizens (Kukathas 2004, p. 45).According to Held (2006, p.73), liberal democracy is well supported by the political theory of pluralism, which allows individuals and groups reach for their interests in the political process, hence, decisions are arrived at by compromise to accommodate the interests of all stakeholders and interest groups. One of the main elements of a liberal democracy is the constitution. The constitution in liberal democracies starts with the assumption of sovereignty, vesting the ultimate force-out in the people. The democracy presupposes that people can control their destiny and that they make moral judgments and practical decisions in their daily lives (Wallace 2007 pg. 7). It requires a decision-making system based on majority reign, with the comfortion of minority rights seeks to protect injudgm ents while controlling the majority (majoritarianism) by trying to face out the practice of majority rule (Dunn 1994, pg 11).The constitutions of liberal democracies mostly uphold the four main concepts of democratic creed namely individualism, liberty, equality and fraternity. Individualism states that the prime objective of democratic government is to protect citizens so that each individual in the state can achieve the highest level of personal development (Marlman 2009, pg13). Liberty is in essence allowing individuals the highest degree of emancipation that is consistent with order and natural justice. Equality states and maintains that all people are equal in creation have equal opportunities and rights (Mueller 2007, p.41).

Environmental Health and Safety Studies Questions Essay

Environmental Health and Safety Studies Questions - Essay ExampleIndirect cost that relate to workplace haps and injuries include the damage to the tools and equipment used by the worker, the loss of time and the cost of hiring and training other new employees that would be a heterotaxy for the injured employee on either temporary or permanent basis. Other costs include the possibility of rise of insurance premiums as a issuance of the accident. The indirect costs may sometimes rise to as much as 3 to 4 times that of direct costs. This, however, depends on the type of accident that occurred.It is impossible to be accurate in determination of actual costs given the uniqueness of each injury type. The type of occupation will protagonist determine the likelihood of a risk occurring, as some occupations expose the workers to much more risk than others. All the same, all jobs expose the employees to risk to certain degrees regardless of ones occupation. Employers who employ workers i n jobs which expose them to high risk would likely incur much more cost than those who involve in jobs with little risk.In addition, organizations having safety programs have low incidents of accidents, increased productivity and higher worker moral and motivation. Other costs include legal fees in cases where employees sue the company, cost of implementation of accident reduction standards and the cost of conducting investigations. Lastly, since safety training may be instituted following accidents, operations are slowed and therefore moolah are reduced.When an employee violates safety rules for the first time, they are summoned and a discussion is held with them over the matter. They are instructed over the proper procedures and the particular hazards that they control. The instance is kept as a notification in the file of the supervisor.The advance of technology is likely to completely change the profession of occupational health and

Communication is the key to business success Essay

Communication is the key to business success - Essay ExampleIt would build an integrated marketing communion system for a fictitious catering unbendable. The objective is to take both the aspects into consideration, like the caller-ups SWOT analysis, SOSTAC (situation, objectives, strategy, tactics, action and control) for the IMC system, and develop an analytical approach to make the case as lifelike as possible.Marketing communicatings are as important to a firm as personal relationships are important to an individual. They determine the identity of the firm in the market both absolutely, as well as relative to its competitors. Marketing communications are the heart of a companys strategy today. They determine the consummate survival of the firm. With increasing competition and homogeneity of products, companies bring forth to differentiate themselves from the other firms, for which they have to use communication effectively. Todays consumers are very knowledgeable and would expect the company to be in touch with them constantly, from advertising to after-sales service.Integration marketing communications can be simply defined as the process of developing and implementing discordant forms of persuasive communication programs with customers and prospects over time (Schultz professor at Northwestern University, 1993). Moreover, the goal of IMC is to influence or directly affect the behavior of the selected communication audience. IMC considers all sources of brand or company contacts which a company or prospect has with the product or service as potential delivery channels for the hereafter messages. IMC, makes use of all forms of communication which are relevant to the customer and prospects, and to which they might be receptive.The American Association of Advertising Agencies defines IMC as the concept of marketing communication planning that recognizes the added value of a comprehensive plan that evaluates the strategic roles of a variety of communi cation disciplines (general advertising, direct response, sales promotion, and public relations) and combines these disciplines to provide clarity, consistency, and maximum communication impact.IMC can be pictorially represented asIntegrated marketing communications has an outside-in approach as opposed to the traditional inside-out approach. This means that companies have to look inside first, and then towards the customers. Customer relationship building starts from developing effective systems within the enterprise itself.To develop and adopt an effective IMC system, the company has to trace the key audiences present as well as potential customersdetermine the objectivesdesign the communications contentselect the communication methodsdefine the

Business Intelligence Application Design Case Study

Business Intelligence Application Design - Case Study ExampleThe integrated line intelligence constructions from most intent companies are not described as organic, but they emerge because of incorporating proprietary business intelligence technologies (Mantyla and Gerwitz, 2009).BI applications are a critical part of the governances definition giving vital information or data to various branches of the enterprise (Gale Research Company and Gale Research In., 1978). Information Technology departments should consider that challenges facing the growth of business intelligence applications are identified and corrected. Information consumption in an organization increases with the development of new technologies. When the problems related to information fall are tackled in a professional and timely manner, the enterprise will realize business intelligence standardization (Prabhu, 2011).Figure 1 The integrated formula created to define the new composition of enterprise BI, and aid o rganizations grow from past descriptions of poor business intelligence technologies and ineffective departmental business intelligence applicationsSince 1990s, business intelligence products and applications were represented formatively. During this era, enterprises realized that they had to include various BI competencies to meet the increasing user needs. Consequently, the range of business intelligence competencies can be unite into Schemes of BI platforms (these contain five different sets) (Khosrowpour, 2005). The schemes of business intelligence platforms are (1) data mining-advanced analysis (2) OLAP and visual analysis (3) enterprise reporting (4) scorecards and dashboards and (5) alerts and mobile Apps. Considering the ever-changing market demand, a number of business intelligence developers create various products designed to cater for the requirements of the listed schemes of business intelligence (Mantyla and Gerwitz, 2009).Several companies have embraced various product s of

Music Essay Example | Topics and Well Written Essays - 500 words - 4

Music - Essay ExampleThere were actually 18 songs from his setlist and three call for songs to the delight of the frantic audience who seem non to get enough.Starting his concert with the crowds favorite, Devil Without a Cause, the audience has long started to jump and prance and literally get crazy. His songs were a mix of rap and rock with a lot of metal and discriminating screams in between. Most of the songs have unremitting pattern on the upbeat. The audience could actually appreciate them more were it not for the consistent barrage of loud noises, not only from the amplifiers and sounds on stage plainly more so from the audiences screaming, shouting, jumping and dancing. By the time that banter Rock sung his last encore song, Born Free, the audiences were all high from adrenaline equitable having been part of the spectacularly live, highly energetic and electrifying concert.Honestly, one is not a solid rock fan therefore, attending the concert was more of a way to exper ience something new. One realized that other songs have good melodies and rhythm (Midnight Train to Memphis, Born Free, All Summer Long) with still the backdrop for shrill voice, liberating message, carefree spirit and the embodiment of democratic ideals.The only setback to the concert was the noise, especially of the screaming, shouting fans and audience, who were frantic and hyper most of the time. Seen to be a mix of hardcore rock fanatics, to the young generation, the crowd was virtually ecstatic constantly singing along, dancing with their hands up, as if in apparent awe and magnetized to Kid Rocks singing. The playing of the instruments was really loud which was preferred by the general audience. As a spectator, one could only marvel at the abuse by which the fans patronized this group and actually adored his every song and performance.Attending the concert has been a different but moving experience. Although one was not an avid rock fan, the impact that Kid

The Big Thirst Essay Example | Topics and Well Written Essays - 1250 words

The Big Thirst - Essay ExampleFirst, he claims that body of water is unquestionably the most master(prenominal) shopping mall in our lives... It is part of the mystery of life and the routine of life (2). This statement is true. The human body is composed of 50-60% of water, thus making water a incomprehensible substance that makes people survive for days even without food. Second, Fishman also enumerates the uses of water. According to him, people use water incessantly in their daily routine and important activities to baptize children, digest food, quench thirst, feed animals, bathe, clean the dog, wash hands and dishes, cook, plant rice, fruits and vegetables, etc. These uses of water are commonly known. What is uncommon is the fact that water is also used to make bottled drinks, put up a concrete building, launch a spaceship, run electricity, make flat-screen TVs, set up MRI machines and chitter accounts, produce iPhones and cars, etc. Meanwhile, five liters of water is als o needed to produce two bottles of coke. As Fishman identifies these other important uses of water, his claims become more and more kindle and appealing to readers.Water has amazingly upheld the lives of people. It generally helps farmers sustain their farms and supply the need of people for food and beverages. Water in many parts of the world is genial to farmers. However, in some countries like Australia, water seems to be scarce, thus there is great effort on the part of farmers to grow plants and harvest foods. Unfortunately, tons of water are required in some lands in order to turn a dry land into a fertile one. Often, people think that the riddle of a farmers success is his ability to plant or his hi-tech farming tools and equipment but as Fishman points out, it is actually water that makes the harvest likely because without it or with very minimal water supply, the crops will not continue to grow. This thought resounds Fishmans

Case study ( in search of second act) Example | Topics and Well Written Essays - 250 words

( in search of second act) - Case Study ExampleThe have got of the observed turn of events as far as gross revenue of the product are concerned is raising questions on whether the product is for fun or functionality.It is apparent that consumer demands have gone beyond the basic it offers and there is an equal need to extend its application among the elderly and children. This calls for differentiation approach to improve the functionality of the product and embroider its market size. There is a challenge to the managers of this company concerning the description of the product as either a toy or a software or robotic tool for learning through fun. It is therefore critical to evaluate the cost-benefit analysis of functional aspect of the product with focus on consumer and sustainable competitive emolument in the industry. It would be recommended that the product be improved in feature so that it would capture the emerging needs of the customer and the resulting rise in sales woul d boost the confidence of the

Research Proposal Essay Example | Topics and Well Written Essays - 2500 words - 8

Research Proposal - Essay ExampleParent-child relationships are frequently distressed by the mental illness of a parent. Uysal, Hibbard, Robillard, Pappadopulos, and Jaffe (1998 as cited in Nicholson, Biebel, Kinden, Henry, & Stier, 2004) discovered that parents with mental disorder were less nurturing less focused on motivating social aptitude development, cleanliness, and obedience and were commonly less involved with their childrens social being than parents without mental illness. Such parenting deteriorations could be related with child problem behavior (Nicholson et al., 2004).In order to situate the research questions in theoretical perspective, several major components of social development framework the interdependencies of social lives and the function of human agency in the process of making decision (Reutlinger, 2009), will be considered. A fundamental principle of the social development framework is that the lives of people are interconnected (Reutlinger, 2009). The re late lives of parents and children are specifically significant due to the fact that even though children commonly have little say in the decision making of the lives of their parents, the family make the living situations of children considerably by affecting the levels of different social capital resources accessible to children within the family unit (Schmier, 2004).Even though the lives of children are influenced by an start out of social institutions external to the family, such as peers, neighborhoods, and schools, the fates and opportunities of family members are strongly interconnected, and families keep hold of a major role in the social development of children (Schmier, 2004). Family arrangement, the prerequisites of abilities and skills by adult family members and the possible rivalry for resources from other family members therefore all facilitate in the construction of the domestic

Can Environmental Insurance Succeed Where Others Have Failed Essay

Can Environmental Insurance Succeed Where Others Have Failed - Essay ExampleThe researcher states that there are many protective measures put in place by firms in order to reduce environmental pollution. It ranges from environmental policies, health policies as well as the safety risk policies. However, these protective measures may not be socially efficient. In such(prenominal) cases, these firms have to be liable to the negative externalities developed imputable to their actions. Such externalities include loss of well-being of people exposed to pollution or those individuals who are not willing to use unhygienic recourses. In such situations, environmental may levy a post-damage fine, directly proportional to the extent of the external damage violated. For smaller firms, this fine may exceed their limited assets, therefore, reservation the firm declare they are bankrupt and avoid tolerateing the fine altogether. Environmental agencies, therefore, came up with a pre-damage risk management process. In this process, firms will pay smaller fines frequently for not implementing the obligatory environmental practices. Examples of such management process include Project Safety Management (PSM) programs, Risk Management course of instruction (RMP), U.S. Environmental Protection Agency (EPA) and also Occupational Safety and Health Administration (OSHA). Since post damage fines are often limited by loser and, on the other hand, pre-damage process mandates are constrained by monitoring. And, therefore, the best alternative will be to buy the environmental insurance policy. The paper, therefore, researches on mandatory insurance for Underground Storage Tanks (USTs) in order to come up with answers if environmental insurance policy succeeds where the traditional policies failed. Pre-damage fines could have been the best alternative to predict the issue of bankruptcy, but the implementation is constrained by regulatory agencies narrow monitoring capabilities. Envir onmental Protection Agency has limited auditors to do facility supervision in order to ascertain whether all firms have effectively put into practice all the risk management practices.

SABMiller's takeover of Fosters Implementation task Essay

SABMillers takeover of Fosters Implementation task - Essay ExampleFor instance, British business culture is more formal and there approach is more money oriented. British employees like to engage in work with people, besides the oversight and leadership put much high emphasis on organization structure.The Australian culture on the other hand is less formal and quotidian in job situations and above all organization rather than the workforce is the key motivator. Australian managers like to take direct part in the employee cash advance and have an environment similar to a coaching culture. Additionally, the Australians are more performance oriented rather than power oriented. This is a clear indication that unless SABMiller addresses these threatening cultural differences, the takeover bid may suffer a big blow. The Australian culture will certainly set leadership and worry antecedency to its organizations, which will be emulated by various managers and leaders.Marvin Weisbord si x boxes model, which include purposes, structure, leadership, relationship, reward, and helpful mechanisms, can effectively be used to solve SABMiller takeover bid challenges. Purposes calls for the management to analyse the extent to which organization goals are clear, fits its vision and is upheld by everyone (Sharma , 2007 72). Structure is the next element, it focuses on how work and communication flows in the organization. Relationships require management to rate the relationship between organization members, people and technology. Reward calls for management to identify what to recognize. Leadership calls for specific leadership style to be applied. Helpful mechanism calls for satisfactory coordination techniques (Shapiro, 2010).Kotters 8-Step Change Model is also the best solution to SABMiller takeover challenges. Step calls for the management to create urgency by publicizing the urgency around the deal for change (Coutts, 2007). Forming a powerful coalition involves convi ncing everyone about the need for change while

Female Entrepreneurs Essay Example | Topics and Well Written Essays - 4500 words

Female Entrepreneurs - Essay ExampleThe paper has clearly brought out the fact that the managerial qualities of women ar entirely different from male enterprisers and it rests a great deal on the circumstances that motivate her to establish her own business set-up, apart from her own characteristics and qualities that she has imbibed. The focus techniques adopted by them and their impact on the organizational performance ar brought to fore by interviewing few female entrepreneurs in UK by providing them with a questionnaire.The force showed that though charismatic and transformational leadership are made use of by the women entrepreneurs, the driving force that makes them into a success story is the relational approach beneficial by them, which includes open communication, sharing of information, empathising and nurturing of the employees. The charge techniques adopted by women have shown more g everywherenment issue of employees in female owned enterprises than others. Conseq uently, the number of female entrepreneur billionaires has been increasing at a fast pace and we hope to have double the number of women entrepreneurs in the next five years.The importance of women entrepreneurs has been greatly fe... 1. inceptionThe importance of women entrepreneurs has been greatly felt across the globe in the last decade. Interestingly, in developed countries, women own 25% of total businesses and are starting up new ones at a faster rate than men (Woldie and Adersua, 2004). Infact, besides making a contribution to the economy, women through their different management styles have been adding innovation, novelty and choices to the business organizations they own. While studies done in the past have improved the understanding about female entrepreneurs, the issues which have not been addressed in-depth are - What are the management styles adopted by women and how do they affect or have an impact on various aspects of organizational performance.This paper, will, th erefore, focus on the growing number of women entrepreneurs in the last decade, their management styles, the impact of their management strategies on the success of the organization and whether their style is different from their male counterparts or not.The purpose of this report is to fork up information on this research topic which will be used as a basis for my third year project for the BA recognize for Business degree with a management minor at Croydon College. As a adult female in business I have spent over twelve years conversing and engaging in business activities with many other women and it has intrigued and inspired me to investigate, explore and examine a few of the variables that make a woman into a successful entrepreneur. As part of the research, I also want to investigate management styles to understand if there are any particular types of management styles which assist the women in becoming successful and how do they differ from management styles adopted by thei r male counterparts. I have personally

Letter of Advice... Interpersonal Communication Essay Example for Free

Letter of Advice Interpersonal Communication EssayThis a undischarged article with good advice on how to communicate with your husband, wife or partner for the future. With away Communication there will not be a happy and presbyopic lasting result in a marriage. Within reading this article I was able to relate the knowledge with my own marriage of 5 eagle-eyed years. Learning how to communicate within listen as well as my tone and new(prenominal) forms to communicate has been susceptible for us. There has been along hard combat to fight through my ordeal, but the lessons of reading and responding with the actions have been very tolerable. I have had a very bad problem beening lonely after my children went to college and after I closed my business. Drawing more to my husband, I felt he was pulling away from me. There was not a day went by that I feel deeper in a depression without communicating that with him, I dependable assumed he would have noticed. Now after talking the problem out and with quality time as well things argon much better. Being able to relate to Many couples think they are communicating with each other, they are wrong at times, beca utilisation I was that person.Within the statement, Romantic family relationships begin with a lot of sharing and excitement, (Terri Orbuch) I feel this is very true, because thats why you get married. still, as time goes on other things take place within priorities before you mate. I blame this on life sometimes. Self-disclosure really is an important key to having satisfaction in a marriage even or a relationship, because it is an act of verbally or nonverbally revealing information about(predicate) you to others.Within revealing your true thoughts and self you may allow other people to know the real you and not your public personality, which often leads to building the relationship to higher levels of communication. Self-disclosure is what your spouse will be entitled to that knowledge. When it com es to gender differences, there really is a level of expression that women and men have to different. When you make a connection and are able to understand how interpersonal communication works, you are better able to express and reveal information about the inner you.I have noticed that my husband keeps a lot of things bottled up on the inside and I really try to get him to talk about things. But within recognizing my husbands stand on issues, I dont push too hard. Gender roles are even greater oer the years as men and women both have trouble in expressing their feelings, but if we learn to communicate better things will be easier. After all, we just want to be loved and cared for by our spouse. Unfortunately, I believe I have loved, lost, and lived to love again through our time together.I believe with time, exploring, and the use of self-disclosure that my husband and I will find our way back to an exciting new beginning to share with our extended family through generalization. I fit into the family because many relationships are typical. All arguments and issue seems to be the same, only to be in a different scenario. Communication plays a valuable role in our relationships one that leads to a long-lasting and healthy marriage. Some good advice is to make the best of every opportunity while having fun and loving the person you are with right now.

Security Council Action Essay Example for Free

Security Council Action EssayAccording to United States and the 4 eternal members of the Security council, negative Power grants the 5 members an authority essential on upholding global peace. The question at hand claims oppositely, that the prohibit powers of these members were a serious obstacle during the frigidness War (1945-1991). Sources A-E, when analysed, agrees, and in any case disagrees with this claim. Sources A, D and E intrinsically agrees with the notion that shun power were a serious obstacle to action during the parky war. statistical data in Source A shows the number of vetoes exercised, mainly by USA and USSR. This source can be considered as the most reliable source, obviously as statistics show a deeper understanding of the situation at the time. Number of vetoes practiced by these countries, are seen to be concentrated on specific periods, where the tensions mingled with USA and USSR heightened in the Cold War.For instance, the most number of veto es in UN history has been noted between 1946-55, during the period where the Truman doctrine, and the Berlin blockade was in act. Hence, actions by the Security Council failed to conduce effect, since veto delayed or halted supranational action. Source A shows that USA had mapd the veto power most during the Reagan era, from 1976-85. This reflects the use of veto as a tool by the nations to uphold the national interests, such Reagans anti-communist policies to contain communism, as cited in Source D. The source accurately highlights Reagans blind-eyed support to Israel, which again, postponed international action against human-rights and international-treaties violations by Israel. This viewpoint is also supported in Source E, in which two academics explicitly state that global action were taken post due to veto powers of the permanent members.It can be considered largely valid, since academics usually research on the situation in an academic perception, and so is less credibl y to be biased. They have shown two sides to the story. Sources, A, D and E interpreted in this standpoint take cares to indicate that veto powers were indeed a serious obstacle during the Cold war. However, sources D and E discussed above can be deemed flowed for the reasons outlined below. The fact that the number of vetoes shows to be concentrated in specific period connotes the fact that veto power was not a serious obstacle to Security Council action throughout the whole time-period of Cold War. Source A shows the time periods where vetos show little numbers, where Detente or easing of relations between USA and USSR. During these times, number of vetoes seems to show a decline in numbers, reflecting compromise between nations.Moreover, Source D originates from a writer/journalist on Middle-Eastern affairs. The writer may have interests to attract Middle-Eastern readers, and can be deemed to have a sentimental anti-Israeli and anti-American tone to his writing. He mentions the mis-use of veto powers by the West, failing to note the abuse by USSR which had used the veto powers most, evident in Source A. When the sources are analysed in this manner, it seems to discredit the viewpoint in the sources, which support the view. Source B and C disagrees with the claim that veto powers of permanent members trounced a serious hindrance to Security council action, lying on the argument that veto has played a positive role in global action by the Security Council. Source B originates from an academic and seem to have a sound understanding of the workings of the United Nations. Both Sources B and C notes that the public fails to highlight the positive impacts of veto power. Former UN official, cited in source C is observant and can be deemed credible due to his position.This is partially accurate, as veto power has vested a sense of responsibilities in powers. It is straightforward that UNGA, where no veto power exists, had failed miserably on coming with action, but became a debating club of the UN, which is explicitly stated in Source E. Source B also connotes the view that the scope of the effect of Veto power is exaggerated and takes a narrow viewpoint, which cites Taiwan as a permanent member of UNSC during the Cold War, but did not represent the major world powers of the world. This point can be reflected in the Iran-Iraqi war, in which the permanent members did not exercise veto powers. This is also supported in Source C, which highlights the growth in the number of countries in UNSC, which culminated a democratic atmosphere. This is shown in the statistics of source A, which clearly shows a declining trend of the use of veto power, and has not been used throughout the Cold War on posing as a barrier to Security council action.Sources B and C, analysed in this fashion, indicates that veto power was not a serious barrier to global action during Cold War. But the viewpoint of the sources discussed in the above paragraph can be deemed nu ll for the reasons outlined below. Source B mentions the shortcomings of veto-power, and supports the view of sources A, D, and E that veto power has blocked important international resolutions. It also highlights the need for reforms, such as that called upon in the Brahmis report, to make the use of Veto more effective. It is also important to consider that the writer believes in the core aims of UN, and would have an interest to defend the staple framework existing in the United Nations. Similarly, source C originates from an ex-employee of United Nations, who could favour UNs existing structure sentimentally.He fails to mention the use of veto to uphold national interests upheld, especially by USA and USSR during the Cold war, mentioned in Source D. The sources analysed fully in this light, discredits the view that veto power did not pose as a hindrance to action by SC during Cold War. Sources A-E, and the realities of the situation during the given time period, seems to offer a n alternative viewpoint. It is rather true that Veto Power posed as a hindrance to action, shown in sources A, D and E, but not throughout the Cold War, as pointed out in Sources A and E. Veto Powers were concentrated and effectively delayed action mostly during the ignition of cold war, and the Reagan era. The use of Veto power during other times have been unparallel to the times mentioned above, and hence cannot be concluded that it has been a serious threat to Security council action throughout Cold War.

Monopoly - economics Essay Example for Free

Monopoly economics EssayA monopoly exists when it has total entertain over a particular trade and controls the supply and demand for that particular good or service. An oligopoly is a structure of a market in which only a few companies own or control the industry There are natural monopolies in the economy as sound which are necessary to keep the economy progressing. Oligopolies exist because of the control over the supply of a good or service is in the hands of only a select few. They can influence the prices as well as the competition. The first monopolies began over discrepancies over natural resources.Before there was government regulation the resources that were once widely available to the population were controlled by the likes of elite, full-bodied men. These conflicts over natural resources caused the government to regulate the resources by gathering and distributing them to the public. This regulation was put into place to reduce aggression between the company and the customers while equilibrise the supply and demand through different companies. Natural monopolies, on the other hand, do exist. These natural monopolies are those that have been in place for a languish time and cannot be easily replaced.An example of these monopolies is a public utility such as water or electric service. It is much more pricy to use multiple companies for a utility is much more costly as a whole than allowing the monopoly to continue. Waterlines and electrical towers that have been built and maintained for long time would be difficult to destroy or remove from the land. In an oligopoly market, the companies set the prices and work together to control the markets to block new competitors from entering the market. The way these companies make out is through advertising and campaigns to get the most loyalty from the public.By using one another they can create supply and demand for their product or service. With government regulation these few powers can also be controlled like a monopoly would be. From a laissez faire view, monopolies and oligopolies will self-correct and be naturally eliminated. For instance, Microsoft Corporation controlled the operating body market since releasing in 1985. Microsofts operating systems, which once solely dominated the market, at one time compete with Apples MacOS. These two companies competing have now formed an oligopolistic market.In conclusion, it is in the best interest in the government to prevent monopolies from existing. When monopolies exist they decrease the incentive to for other companies to be successful in the market. Keeping the market competitive will drive companies to create new technology and use their inventiveness to improve the economy. Only under certain component part should a monopoly exist and that is of a natural monopoly, and when they do they ought to be regulated by the government. Even though the government can set laws and regulations for oligopolies, it still leaves c lutch of room for monopolistic activities and uneven market share.

Parent Firms of Joint Ventures

P atomic number 18nt Firms of Joint VenturesAre joint-ventures and their pargonnt steadfasts much closely related in impairment of skill-relatedness than in cost of value-chain?AbstractThe indue amongst joint-ventures and their p arnt faithfuls is a fairly stark naked topic of research in the field of variegation. In the process of determining the actual parent firm of a joint-venture out of every last(predicate) option industries, it turned our that both vertical- and skill-relatedness proved to be signifi micklet. The results indicate bring forward that skill-relatedness is more predictive in this process than vertical relatedness and that joint-ventures are more likely to energize parents that have skill overlap to their indigenous activity than industries that do not. These results hold for the entire sample and a subsample of manufacturing firms. An another(prenominal) finding is that joint-ventures and their parents tend to be more closely related in skills than their parents active in the joint-venture. Suggesting that joint-venture are a mechanism to reduce cognitive distance and increase the sorbefacient capacity of the tender cognition being transferred.1. IntroductionDiversification and relatedness in the midst of firms has been astray researched and finds their theoretical foundation in Coase (1937) Penrose (1959) and others. Coase (1937) bottom of the inning be regarded as one of the depression to address the action bes theory, while Penrose (1959) addressed the resource establish conniption of the firm. Both theories invent the basis of m either empirical research to understand more about variegation doings of firms. These theories at that placefore form a basis for further research in diversification and especi every(prenominal)y in the distance between joint-ventures and their parents for this written report.Out put produced by one industry often form the basis of business in other industries. It makes sparing sen se to integrate these activities into already exist activities to improve efficiency, make the company less dependable on their primary activity and expand the company, in order to achieve harvest. Fan and Lang (2000) found this already before in their research about diversification. Firms tend to have minute of arcary segments that are related in terms of in-output. This vertical integration of activities is most likely to occur when facing high food trade performance cost.Neffke and Henning (2010) in any brass investigated diversification behavior of firms using in-output relatedness. Their research however introduced a new measure of skill-relatedness, which turned out to be dominant in predicting diversification behavior of firms. Conform the resource based view, regarding human capital as the prime plus of the firm, their research firstly compared observed job switchers against the predicted job switchers between current industries. Individuals gain, certain specific skills during their working life and can only redeploy this association (know-how) in other industries which posses most degree of association overlap. If this is not the case, reverse will only hurt the individual, since he or she will be not valued for all(a) acquired skills during his working life. This measure of skill-relatedness between industries proved to pass by in-output relatedness and supported the resource based view in diversification activities of firms.While diversification behavior and relatedness is widely researched, this is not the case for the kind between joint-ventures and their parents. A joint-venture is a separate legal entity (Harrigan, 1988) and has at least devil parents, who are in joint-control and reliable for their equity share in the joint-venture. This paper will discuss, why a joint-venture might be preferred over alternatives and how this might influence the distance between joint-ventures and their parent firms. This will provide new insi ghts in the relationship between joint-ventures and their parent firms.In order to investigate the relationship between joint-ventures and their parent firms and testing for dominant agency in this relationship, this paper used a sample of 237 German joint-ventures between 2005-2011 and constructed an average vertical relatedness according to Fan and Lang (2000) for German industries between 2005-2007. It than included the skill-relatedness of Neffke and Henning (2010) based on Swedish labor switchers between 2004-2007. These data al misfortunateed us to make an overview of all joint-ventures and all industries in which it can have their parents. We then tagged the actual parent firms of the joint-ventures with a one and all other industries with a zero, allowing us to run a logit regression with the actual parent firms as our dependent variables. The findings indicate, that the resource based view is the dominant mode in explaining distance between joint-ventures and their parent firms. This provides more insight in the immenseness of close relatedness in terms of skills over other forms of relatedness.In the quest chapter, we start with a theoretical manakin about diversification and argue that the resource based view can be regarded as the most principal(prenominal) in diversification moves. We will then discuss the alternative diversification possibilities and the limitations of diversification. This will be followed by a discussion of the most important strategic motives on joint-ventures choice. These strategic motives and the theoretical theoretical account will be summarized at the end of chapter 2 and we will explain how this all will relate on the distance between joint-ventures and their parents. In chapter 3 we will discuss empirical evidence on diversification and joint-ventures and their implications on our research. Then we will follow with a data discussion and our method of research in chapter 4 and 5. The results and out findings will be presented in chapter 6 and the concluding chapter will discuss our outcomes, provides just about more insight in the distance between both parents active in the joint-venture, limitations, policy implications and future research.2. Theory on diversification an introductionThis paper investigates the distance between joint-ventures and their parents. Before we can have a look at this relation, we start with a theoretical framework about diversification and the implications of this framework for our research. Thereafter, we will explain more about diversification motives and the problems and limitations firms might face when diversifying. We then summarize all this and discuss how this all relate to our evaluate findings on joint-ventures and the relatedness with their parents.2.1 Theoretical framework behind diversification strategiesA theoretical framework behind diversification strategies will be discussed in the coming chapter. This theoretical framework provides more insigh ts in the diversification motives of firms. After these motives have been discussed, we can discuss their influence on the distance between joint-ventures and their parents at the end of chapter 2.2.1.1. Transaction cost theoryThe transaction cost view is a theory of Coase (1937) and Williamson (1975, 1985) and addresses the view that economizing is the core problem of economic organizations. The core of these problems in organisational context beat in the assumptions of incomplete information and self interest seeking firms / people. Incomplete information in contracts implies that it is impossible for individuals and firms to predict all(prenominal) future event, in that respectfore all contracts are incomplete and exposed to uncertainty of future situation not foreseen by firms and individuals. If these future states / conditions change, the incentives for the individuals and firms involved might also change. In other words, there is room for self-interest of individuals. In t he transaction cost theory, these assumptions of bounded rationality and self-interest seeking are paired and as a result there is room for fraud or guile of economic agents. Economic agents are driven by self-interest and the transaction costs theory allows these agents to deceive, disguise and discomfit in order to maximize their self interest. Opportunistic behavior and moral hazard are thus included in the theory of transaction costs.These assumptions are the basis for the theory of transaction cost and have some consequences, especially when it comes to contract modes and thus joint-ventures. Due to bounded rationality and opportunistic behavior of economic agents, all contracts are incomplete (Williamson, 2006). This means, economic agents have an incentive to behave to their own optimal ex post outcome if situations change which cannot be contracted. The second assumption is contract as promise (Williamson, 2006). This assumes that economic agents will fulfill contracts as p romised. However, this will not be obtained if these agents are given opportunistic opportunities. The transaction costs analysis entails an examination of the comparative costs of planning, adapting, and monitoring task completion under alternative governance structures (Williamson, 2006, p. 58). The transaction will bring the canonical unit of analysis and minimizing transaction cost will result in the most cost-effective governance structure. Transactions differ in three ship canal from each other (1) frequency at which transactions recur (2) level of uncertainty to which they are subjected (3) level of asset specificity involved.Since asset specificity is of crucial importance, we elaborate some more about the characteristics of asset specificity. Asset specificity has reference to the degree to which an asset can be redeployed to alternative uses and by alternative users without sacrifice of oil-bearing value (Williamson, 2006, p. 59). This asset specificity conks of impo rtance in the context of incomplete contracts, while asset specificity can take varied forms (1) physical asset specificity (2) site specificity (3) dedicated asset specificity and (4) human asset specificity.The complexity of a transaction is indeed highly dependent on the asset specificity (k) of the asset and investments in that asset. A supplier can for example use a general purpose engineering science with low asset specificity (k=0) or it might invest in a specialised technology with high asset specificity (k=1). High asset specificity is likely to involve high bilateral dependency between the parties in the transaction. Since the parties involved in the contract become vulnerable of each other, switching is tricky and costly option due to the mutual dependency and the investments done in specific assets. The buyers cannot easily turn to an alternative supplier and the current supplier is highly dependable on the demand of its current buyer. Therefore the higher(prenominal )(prenominal) the asset specificity, the more likely it become that higher contract costs have to be faced. Both parties have more incentives to devise safeguards to protect the investment in the transaction if asset specificity is high. However, if there is low asset specificity (k=0) and we thus have a general purpose asset, contract are easily monitored and marketplace transactions will be preferred.Back to the diversification decision, minimizing transaction costs is regarded of crucial importance for the choice in governance mode. This implies that firms choose between a wholly owned subsidiary, a simple market transaction or a hybrid made, as a joint-venture for example. This trade- rancid between a joint-venture and other governance modes has been widely researched. Hennart (1991) for example found that Nipponese firms start joint-ventures with U.S. counterparts to combine intermediate inputs when they are subjected to high market transactions costs. This paper uses a relat edness in terms of in-output and can therefore measure the distance in terms of the use of intermediate products between industries. The influence on joint-ventures and partner distance will be discussed at the end of chapter 2. At this localize of the paper, it is however important to understand that high relatedness in the use of intermediate products is likely to be caused due to high transaction costs. This would imply that if diversification has a high level of relatedness in value-chain and are thus closely relatedness in terms of vertical relatedness, this is most likely caused by high transaction costs and supports the transaction costs view of diversification..2.1.2. Knowledge and resource based viewIn the resource based view, fellowship (know-how) is regarded as the most important production factor deep down the firm. The origin of the resource based view goes back to the work of Penrose (1959), who inspired the discussion of the resource based view of the firm and the importance of resources to achieve firm growth. Penrose stated that the firm is a collection of productive resources (human and non-human) under administrative coordination and authoritative communication that produces goods and services for sale in the market for a profit (Penrose, 1959, p. xvii). The administrative coordination and authorities communication define the boundaries of the firm (Penrose, 1959, p. xvii). The firm specific human resources are regarded as the most important of all resources within the firm. Without these human companionship, there can be no operating firm. As a result, the firm cannot make decisions, long-term planning, run operations and it can certainly not make any expansions.From this point of view Penrose (1959) indentified two major causes of firm growth. First of all, causes external to the firm and secondly those causes that are sexual to the firm. External causes for firm growth, as capital constraints, cannot be fully understood without an ex amination of the nature of the firm itself (Penrose, 1959, p. 532). We may therefore conclude that firm growth is endogenous to the firm this is a result of two reasons mentioned by Penrose (1959). In order to execute plans and strategic action, human capital is required. After completion of the advise/action, managerial resources will be released with increased acquaintance. These resources gained experience and knowledge during the succession of the expansion and can be redeployed at alternative use after the time of the expansion. The redeployed individuals with an increased knowledge and skills might improve efficiency and organization of the firm, but might also be able to development new or specialized services. Depending on the expansion, individuals involved might also gain unique knowledge of their experience this is particularly true for certain forms of tacit knowledge, which are more difficult to transmit.The theory of firm growth of Penrose (1959) has been regarded a s one of the earliest contributions to the resources based view of the firm, stressing the importance of knowledge as the key production factor within a firm. The drive of firms for growth, is a drive for new knowledge that is not accessible to the firm before their diversification. However, the motives and goals of each diversification differ and so do the resources possessed by each firm in a diversification. These differences and similarities in knowledge are of crucial importance in the resource based view, where acquiring new knowledge is the ultimate goal for achieving growth. Acquiring knowledge comes with certain problems the fundamental paradox of knowledge and the difficulty arising from transferring tacit knowledge are two of those problems. In the fundamental paradox of information it is extreme difficult to watch out the value of the knowledge for the buyer of the knowledge, which causes high contract costs. Since it is impossible for the buyer of knowledge to estimate ex ante the characteristics of what is being bought. On the other hand, if the seller of the knowledge provides this information, he will be revealing important information and transferring his know-how redundant of charge (Arrow, 1959).If the targeted knowledge, is a certain know-how which cannot be patented and protected against spillovers to competitive firms and other industries it become far more difficult. Certain types of knowledge cannot be put on paper and granted a patent. Firms experiences in manufacturing, distribution, and country-specific knowledge, knowledge of markets, customers and especially high educated employees cannot be patented but are of crucial importance of a firms success in the resource based view. This type of knowledge that cannot embody specifications, designs and drawings, but instead is embedded in the individual is called tacit knowledge. (Polanyi, 1959 Hennart, 1988, p. 366). These individual characteristics of experience and social nature make transfer, coordination and spread of knowledge between firms, extreme complex and difficult (Lam, 2006). The transfer and spread of this tacit knowledge is one of the difficulties when facing diversification decisions. The transfer and spread of this tacit knowledge can be done in different alliance forms, which will be discussed later in this paper. However, for now, it is important to know that diversification is undertaking to gain new knowledge, which must be for same part related to the knowledge of the firm. This is the case since the new resources must be redeployed at alternative use after a project, which might be a joint-venture for example. As for distance in diversification, higher skill-relatedness and thus diversification activities that are more closely related in skills stresses the importance of the resource based view.2.1.3. Portfolio management theoryA third and final theory behind diversification motives is the portfolio theory of Markowitz (1952). Diversificatio n decisions of firms are important decisions taken by firms management in order to maximize the expected returns of their portfolio of investments. These investors are the shareholders of the firm and have a claim on the residual value of the company assets, when debt has been paid. In order to maximize this expected return of the firm dramatic shares, the law of large numbers will ensure that the actual yield of the portfolio will be almost the same as the expected yield. In any case, holding a diversified portfolio would be preferred over all non-diversified portfolios (Markowitz, 1952). Increasing variance in your portfolio would mean an increase in the number of projects, since each project would be successful / unsuccessful at a certain probability, which is referred to as risk. Holding a large variety, in other words, betting on more than one horse, increases your probability on having a winning project. The portfolio management theory suggests that diversification tends to t ake place in activities that are unrelated to the primary activity of the firm. If this is the case, diversification activities (such as a joint-venture) would be unrelated to the primary activity of the firm. There would be a large distance between the firm and its diversification activities, while transaction costs and the resource based view are stressing the importance diversification in more closely related activities, although for different motives.2.2 Different diversification alternativesIn all theories discussed, the master(prenominal) driver for diversification is in order to achieve growth. Either, by minimizing transaction costs in the transaction costs economy or by diversification of risk, which increases the probability of a winning innovation. In all these theories is explained how they might influence the distance between diversification activities. Is there however any limit to firm growth in their challenge to innovate and to expand?According to Penrose (1959) th ere is no limit on the size of a firm, however the growth of the firm has some limits it can reach. In the Hercules Powder Company case study Penrose claimedGrowth is governed by a creative and dynamic interaction between a firms productive resources and its market opportunities. Available resources limit expansion unused resources (including technological and entrepreneurial) stimulate and largely determine the direction of expansion. While product demand may exert a predominant short-term influence, over the long term any distinction between supply and demand determinants of growth becomes arbitrary (Penrose, 1959, p.1)How does this reflect to diversification strategies? Penrose (1959) distinguished between different areas of diversification. The firm can be divided into different productive activities, that contain of machines, processes, skills and materials, all closely and complementary associated in the production process, which Penrose (1959) calls the production/technology base. The firm now faces the decision to diversify into a new market using the existing technology base. It might prefer entering an existing market using a new technology base, which is referred to as horizontal/complementary expansion. The last scenario would be to enter a new market using a new technology base. As described above, the ability of a firm to expand and grow is limited by its internal resources, from which human resources is regarded as the most important. Diversification increases the creative and dynamic interaction of a firm and its resources. either these forms of diversification have implications on the expected distance between the diversification activities and thus joint-ventures and our research. Entering a new market using a new technology would probably have a larger distance in terms of skills from its primary activity than entering a new market with an existing technology. In this latest case, the technology and specific knowledge can be partially redep loyed at alternative use, while this is not the case in the first alternative.The main implication from Penrose (1959) famous work is that firms diversify in order to achieve growth. According to Penrose (1959) the resource based view of the firm is the dominant view in order to achieve this growth by diversification. This would suggest that the distance between diversification activities would be more closely related in terms of skills and less closely in vertical relatedness, used as a measure for the transaction costs theory. If diversification is undertaken in order to diversify risk, conform the portfolio management theory diversification activities would not be related at all.2.3 Limits on diversification and diversification distance?There are different diversification forms as discussed in the previous chapter. It is important to understand that firm growth is limited by its human capital (Penrose, 1959). A firm should therefore guardedly choose its diversification activiti es. A clear understanding of these limits and where these limits depend on is extremely important to understand the distance between firms diversification activities.Since this implicitly answers the question, to what utmost firms diversify and is there a limit on the distance between partners and their diversification activity? Cohen and Levinthal (1990) discuss the absorptive capacity of a firm, which indicates the ability of a firm to recognize the value of new, external information, assimilate it, and apply it to commercial ends, which is critical to its innovative capacity (Cohen and Levinthal (1990), p. 128). This absorptive capacity puts limits on the commercialization of new knowledge and boundaries on diversification. Cohen and Levinthal (1990) assume that a firms absorptive capacity and the individual absorptive capacities of its employers are largely a function of the firms level of antecedent related knowledge. Earlier research suggest that absorptive capacity might be a byproduct of a firms RD investments and others suggest that firms can also invest this instant in absorptive capacity while investing in specialized education/training. The key to absorptive capacity is that organizations needs prior related knowledge to assimilate and use new knowledge for growing. This is very important for the resource based view in our paper, since this implies that diversification activities of firms should be related in terms of skills. Since, the higher the prior knowledge in ones memory, the higher their ability to acquire new knowledge and the ability to recall and use that knowledge. What is often the case in organizations and especially expected in joint-ventures is the transfer of learning skills across bodies of knowledge that are organized and expressed in similar ways. Mowery et al. (1996) indicated that joint-ventures are the most efficient alliance form for transferring tacit knowledge, which could certainly human specific skills. As a conseque nce, experience or performance on one learning task may influence and improve performance on some subsequent learning task (Ellis, 1965). Cohen and Levinthal (1990) make two important assumptions about knowledge, important for diversification strategies. Firstly, knowledge is cumulative and secondly, learning performance is greatest when the object of learning is related to what is already known (Cohen and Levinthal, 1990, p. 131). This implicit that learning is more difficult in novel domains, in other words radical exploration of new ideas, products, technologies and standards. Diversification might offer an advantage, since with diversification comes a wider knowledge base and as a results an increasing probability that the new knowledge is already / partially known to the organization.The absorptive capacity of an organization however, does not only exist off the aggregated absorptive capacity of its individuals, but also on the ability to exploit this knowledge. Cohen and Levin thal (1990) mention there is a trade-off between high levels of absorptive capacity of an organization and the ability to exploit this. They describe this as a trade-off between inward-looking (specialization) versus outward-looking (diversify) trade-off, where excessive dominance by one or the other will be suboptimal. Exploitation can surmount been seen as specialization of old familiar ideas and certainties in organisational learning, while exploration can best be described as the invention of new technologies, standards, products or ideas in an organization. Cohen and Levinthal (1990) discuss also the importance for innovation of close relationship with both buyers and suppliers, suggesting a vertical relatedness would be beneficial for innovation performance. In the trade-off described, Cohen and Levinthal (1990) suggest that to the keep an effective, creative utilization of new knowledge a portion of prior knowledge should be closely related with a the firm new knowledge, and another part should be fairly diverse, although still related. If this is the case, firm diversification activities should be closely related in terms of skills supporting the resource based view of the firm.Why is it important to have both creative utilization and a portion of prior knowledge is best described by abut (1991), who distinguishes between exploration and exploitation. Returns of exploration are systematically less certain than those of exploitation (March, 1991), this might influence the choice for diversification for the long term however, exploration has long run positive return although this outcome is certainly not ever so the case in the short run. Exploration activities therefore capture much more risk taking, uncertainty, variation, flexibility, discovery and innovation than exploitation. Exploitation is more focused on production, choice, efficiency, marketing, costs and benefits (March, 1991).The importance of exploration is best described in a model of mut ual learning in an closed organization and its personnel in it (March, 1991). The organization is regarded as a storage of knowledge (consisting of procedures, norms, rules and tacit assets) and the organization, accumulate knowledge over time by learning from their personnel. Individuals (personnel) however, are socializing the organizational beliefs, which are diffused to individuals through various forms of instruction, indoctrination, and exemplification (March, 1991, p. 74). This mutual learning approach between organizations and individuals has implications for the choice between exploitation and exploration in organizations and has therefore consequences for the short-run and long-run incentives. In this model of mutual learning organizational code is affected by the beliefs of their personnel, the other way around, the individuals are influenced by the organizational code / norm. Important to know is, that individuals can not influence each other, the influence each other th rough the organizational code. What will happen in this closed model? In this organization, each adjustment in beliefs is served to eliminate the difference between the organizational code and the individual beliefs. If the individuals over time become more knowledgeable about the code, they become also more homogeneous with respect to knowledge and in the end will find an residuum. In this equilibrium the individuals beliefs share the same organizational code. It is therefore important to keep a portion of new knowledge in order to increase the organizational code.March (1991) also describes a second model, evaluating the role of personnel turnover in the organization and upthrow purlieu are considered. The length of service of an individual in an organization has a positive effect on the knowledge of the individual and therefore also a positive effect on the average knowledge of the individuals. A recruit therefore has a negative effect on the average knowledge of the individua ls. The role of turnover on the organization knowledge is more complicated and is a problem of learning rates versus turnover rates. As described in model of mutual learning the strength of the recruit is, the renewing in knowledge, since the recruit posses on average less knowledge than the individual it replaces. Long serving individuals, on average know more, but their knowledge is already reflected in the organizational code over time and therefore they are less likely to contribute to the organizations knowledge base. Now consider environmental turbulence to the organization, this can be the case of processes involving lags in adjustment rates. Consider an organization without personnel turnover, in this organization the beliefs reflected by the individual and these beliefs do not change, although the environment is changing. After some time the organizational code is systematically degraded through changes in reality and a much lower equilibrium is reached. Organizations with a moderate personnel turnover however, are resistant to these environmental shocks and adjust to the new knowledge of the recruits (diversified knowledge).March (1991) extent this model of competitive ecology in a model to compete for scarce resources and opportunities. Assuming the performance of a firm is a measure of the average value (x) and some measure of discrepancy (v), which are normally distributed. An increase in both will increase the probability to gain competitive advantages over competitors. In this part there consist a trade-off between an increase in the mean and the variance. Which supports earlier literature, that diversification is undertaken to gain excess to new knowledge to some extent, but is expected to be related to prior knowledge of the firm. March (1991) conclude that exploration firms compete far more on variance than exploitation firms.2.4 Implications and differences between the theories discussedThe main difference between the management portfolio t heory and the resource based view and the transaction costs view is that the management portfolio expect that diversification tends to take place in unrelated industries, while this is not the case for the other two theories, although at different level of relatedness. The resource based view stresses the importance of knowledge gain and the benefits of this new knowledge in diversification. Transaction costs theory however focuses more on the cost side of the transaction.Leaving the transaction costs as basic unit of analysis to determine an appropriate alliance form, which will minimizes the transaction costs of the firm. According to Wang (2007), a firm shoul