World Com Case

WorldCom: internal audit lessons to be learnt On June 9 2003, the U. S. Bankruptcy Court of New York issued a report on the WorldCom accounting fraud that expands on the court's earlier findings of mismanagement, lack of corporate governance, and concern regarding the integrity of the company's accounting and financial reporting functions. Supervised by former U. S. Attorney General Richard Thornburgh, the study was commissioned by the court to investigate allegations including fraud, mismanagement, and irregularities within the company.One section of the more than 200-page report, â€Å"Accounting and Related Internal Controls,† details WorldCom's weaknesses in internal and external audit processes. It also expands on the failings within the internal audit reporting structure, where the tone at the top â€Å"fostered an environment to allow the fraud to go undetected. † The report cited a lack of independence in the company's internal audit reporting structure, which w as not challenged by the audit committee or external auditors.Observations on internal audit reporting and processes Internal auditing mission and scope According to Thornburgh's report, internal auditing was focused primarily on maximizing revenue, reducing costs, and improving efficiencies. The group performed audits and projects that would be seen as adding value to the company, rather than monitoring the adequacy of internal controls to reduce risk. It did not, for the most part, trace transactions to the general ledger or verify journal entries that supported financial accruals.Internal controls with an impact on accounting policies were not systematically evaluated or monitored by internal auditing, and findings were not communicated with the external auditors. Thornburgh's report noted that this was a serious weakness in the internal control evaluation process that was not questioned by the audit committee or external auditors. He indicated that internal auditing's narrow foc us may have contributed, in part, to the company's failure to detect some of the accounting improprieties.Management's influence over The internal audit department's mission and scope was not internal auditingtruly independent. In spite of the dual reporting line to the audit committee, the internal audit group reported and answered to senior management, including the chief financial officer and chief executive officer, who were both implicated in the fraud. Thornburgh indicated that the viability of the internal audit department was dependent on the â€Å"whim† of senior management.For years, internal audit leadership sought to gain company acceptance by focusing on value-added audits and projects rather than monitoring the sufficiency of internal controls. Management would assign special, non-audit projects using unscheduled resources, and the internal audit department did not meet its audit plan objectives, in part, because of the time and resources devoted to these projec ts. Lack of budgetary resources seriously Internal audit resources were insufficient in comparison to impacted the internal audit function peer companies.The audit committee failed to follow through on discussions with internal auditing about the adequacy of staff. WorldCom's internal audit department was half the size of internal audit departments in peer telecommunication companies, according to the 2002 Global Auditing Information Network study, conducted by The Institute of Internal Auditors. The Thornburgh report concluded that internal auditing's limited resources were inappropriate from an internal control perspective, given the international breadth and scope of the company's operations and challenges.Lack of substantive interaction with After 1997, internal auditing had little interaction with the external auditors company's external auditors, other than at quarterly audit committee meetings where both gave presentations. The external auditors did not receive internal audit reports and did not rely on internal audit work in their audits. Even though internal auditing identified internal control weaknesses in its final reports, there was no coordination with the external auditors to ensure that those weaknesses were not material, because the external auditor would report no material weaknesses in its own audits.No one confirmed whether or not the internal and external auditors were communicating about such issues and analysing the materiality of the weaknesses identified by internal auditing. Deficiencies were noted in the annual The risk assessment used during the internal audit planning internal audit planning process process did not involve quantitative factors to measure risk with respect to internal control weaknesses or prior audit findings. The level of risk was determined by assessing whether or not the audit would add value, i. . , enhance revenue or detect significant cost savings. If an audit area's level of risk did not meet these criteria, the audit would be considered low risk and would not be performed. Deficiencies were noted in the Thornburgh was concerned by the influence of management internal audit process and on the conduct and scope of internal audits as well as the the completion of audit reportsfinal reports. From the inception of the internal audit department — in or about 1993 — until January 2002, nternal auditing did not have uniform internal procedures relating to the conduct of audits, preparation or retention of reports and associated work papers, compilation and dissemination of management's response to recommendations, conduct of follow-up audits, or steps to address repeated failure to take corrective action. Thornburgh found no explanation why uniform procedures were not developed prior to January 2002. In addition, he found unwarranted influence by management in the preparation of final audit reports and recommendations.He felt that the language of many audit reports appeared to b e negotiations between the internal auditors and management. In addition, management's responses were not always presented to the audit committee. The report did note that internal auditing appeared to have performed its responsibilities diligently, given its limited resources and management pressures. Most internal audit reports identified internal control weaknesses, and many highlighted weaknesses identified in prior audits that ere not corrected to the satisfaction of the internal audit department. Internal audit improvements The internal audit department made several changes to improve the internal audit function in the company since the 2002 financial restatement and the adoption of the Sarbanes-Oxley Act of 2002. Internal audit management: †¢Increased staff by adding 12–15 auditors who are licensed certified public accountants, and anticipates hiring approximately 10 additional auditors. Strengthened training by requiring each professional staff member to obtain 8 0 hours of continuing education annually. †¢Added financial audits to the audit schedule, in addition to operational audits. †¢Created an internal audit team to task with the external auditors in connection with financial audits, communication, and planning. †¢Strengthened the risk assessment methodology to include an evaluation of materiality, audit frequency, changes in internal controls, and concerns by management, the audit committee, and the external auditor.

Child Care Center †An analysis of how incentives work on the human mind Essay

Understanding the concept of incentives, positive and negative, and how they impact the behavior of people is a core aspect of economics. In fact, economists love to tinker with incentives and identify different measures that can motivate and de-motivate a person from doing an action or from abstaining from it. The power of incentive is such that economists believe that with the right incentive, any person can be compelled to do any task. Incentives can cause tremendous action, inaction or opposition, merely based on the quantity and quality of the incentive. Every incentive has three flavors to it: economic, social and moral. The case of the childcare centers of Israel will help one understand the impact of incentives, and how a wrongly conceptualized incentive can severely affect the very purpose of the incentive. A study of childcare centers in Israel provided statistics that the parents who came later to collect their children were on an average eight per center, per week. This was an alarming statistic for the centers and they had to spend extra money on holding back staff and paying them for overtime services. A few economists decided to try a negative incentive by imposing a nominal $3 fine on parents coming late by more than ten minutes, in twenty childcare centers in Israel†¦ The management and the economists believed that this would deter parents from coming late to collect their child. To their utter dismay, within a couple of weeks of the penalty, the number of parents who came late shot up to 20 per week, per center, displaying an astounding increase of 150%. One major factor that one can identify that led to such a drastic increase is the low penalty. The penalty for the whole month totaled to sixty dollars, which was about 16% of the total monthly service fee per child. From the parent’s perspective, for an addition al 16% of monthly fee, he could come at his own convenience and collect the child. Since, such a penalty was being levied by the childcare center; it became an additional responsibility for the center to provide the best amenities for the child until the parent turned up. It further alleviated the moral conflict within the parent, when he turned up late, as now he could come late and be relieved of the moral binding to come on time, with the penalty. A similar parallel can be drawn to students who were asked to pay a nominal fee for low attendance. Colleges perceived that by introducing a low penalty for every day of attendance below the stipulated percentage, students would be more regular. To their utter dismay, with the introduction of the penalty, the percentage of students who fell below the required the minimum attendance increased significantly, as they were aware that by paying a nominal penalty they could get away with a few more holidays in the year to enjoy. On the contrary, in the absence of the penalty the parents had at least a moral obligation to come on time and collect their children. In case a much severe punishment was imposed like a hundred dollars a day, the number of erring parents would significantly reduce. However, that would increase the animosity between the parents and the childcare center management, which could even lead parents to transferring their children to a far less punishing center. If the childcare centers of the entire region imposed a high penalty for late parents, there is a strong possibility that one of the parents might themselves open a childcare center and compete with the existing one. However, the economists and the management of the childcare centers missed an important perspective. What if instead of punishing the late parents, they provided an incentive for parents who consistently came on time? The incentive can be in two kinds, for the parents and for the children. A nominal monetary incentive for the parents might simply fail, as again they might want to sacrifice a few dollars a day to enjoy their game of tennis or strive more at work. Hence, if a cash incentive is to be provided, it has to be substantial and there must be an element of scarcity; i. e. the top ten consistent parents being awarded. This would create a competitive spirit in the minds of the parents. It has also to be kept in mind that such an incentive would affect the finances of the childcare centers, and would also be useless if the children coming to the center are from the elite class of society. The most effective measure to reduce late parents could be achieved by involving the children in the incentive process. By motivating the children to push their parents to come on time and win the best parent award, the childcare center might get its desired benefits, as children are highly competitive and would influence their parents to come on time to pick them up. The childcare center should focus on the children of parents who turn up regularly late to the center, yet create an impression of equality in the minds of the other children too. Hence, it can be understood from the above discussion that an incentive can have several consequences on its desired participants. An incentive scheme is very successful when the people participate willingly in the process, and reaches less than desired outcome when the participants are forced into the process. A fine example of a forced incentive process is one when a company introduces a new scheme, which has to be promoted by its sales executives, though everyone knows the promotion and the product are unsalable. An incentive to be successful has to be organic, achievable, realistic and participative. References Donald Edward Campbell (2006), Incentives: motivation and the economics of information, Cambridge University Press Jean-Jacques Laffont, David Martimort (2002), The theory of incentives: the principal-agent model, Princeton University Press Sullivan Arthur; Steven M. Sheffrin (2003), Economics: Principles in action. Pearson Prentice Hall. pp. 31.

Unrequited Love

Unrequited love is a love that is not openly reciprocated. The one who is adored may or may not be aware of his/her admirer’s romantic affections. They also may ignore their admirer out of lack of interest or the presence of another lover. â€Å"Let no one who loves be called altogether unhappy. Even love unreturned has its rainbow† (J. M. Barrine, The Little Minister). This certain type of love has been depicted as an unselfish and uncomplaining willingness to accept suffering and humility.Psychiatrist, Eric Berne, considered that ‘†the man who is loved by a woman is lucky indeed, but the one to be envied is he who loves, however little he gets in return†. Some may see this as a negative, and while it does have negative effects, it also shows such selflessness. A quality many people in our society now lack is compassion, love, and understanding. It is truly a quality that is envied by others. Some may think, â€Å"How is it possible to love someone w ho does not even know you exist? , well that just goes to show how much they invest in caring for other people no matter what benefits they will receive. However, there are also negative effects of an unrequited love. Research suggests that some negative emotions the rejector feel are emotions such as: anxiety, frustration, and guilt. Founding father of psychoanalysis, Freud, pointed out that â€Å"when a woman sues for love, to reject and refuse is a distressing part for a man to play†. He is basically stating that it causes the suitor, male or female, pain and agony to reject their admirer.Now in most cases the unrequited lover usually always retain some hope that he/she will change their mind one day, however, the rejector's outcomes or effects are predominantly all harmful to their well-being. While the beloved suffer from negative effects, so do the admirer’s, and they are much more harmful. If the unrequited lover has trouble expressing their emotional needs it m ay lead to feelings such as depression, low self-esteem, envy or jealousy towards the beloved, anxiety and rapid mood swings between depression and extreme happiness.We constantly see examples of unrequited love today in movies, books and songs. They all often portray the positive effects once the rejector comes to his or her senses and decides to be with the admirer. However, this is not always the case; In fact, most of the time the admirer never gets the satisfaction of having a relationship with their love. Although, with positive examples like this it makes it easy to understand why the admirer persists after facing rejection.It is all because of the hope they continue to have. In terms of the feelings of the hopeful one, they feel about the same amount of pain as does someone who is going through the breakup of a romantic relationship without ever having had the benefit of being in that relationship. While some may say the negative effects of an unrequited love outweigh the po sitive effects, the unrequited lover posses one of the most important characteristics, which is selflessness.

Is digital evidence collected from a volatile source as valid as that Research Paper

Is digital evidence collected from a volatile source as valid as that collected from a static source - Research Paper Example Evidence sources in the recent times has shifted from static source as one of the initial steps in evidence collection to adoption of digital source which is quickly driven by the ever changing dynamic computing environment. Evidence from volatile source can be referred to as data that provides a linkage that is significant between the victim and the perpetrator (Wang 2007). It can be gathered from anything that is criminally related such as such as theft of trade secrets, destruction of intellectual property and fraud to the usage of computer. Static source can be referred to as data preserved when the computer is turned off conserved on a computer hard drive or another medium as opposed to volatile source whose storage is in memory and gets lost when the computer is turned off. Introduction There are various ways of collecting digital evidence from the scene of crime. The most prevalent techniques are collecting digital evidence form volatile sources and collecting from static sour ce. Data from volatile source might have key evidence. It is therefore vital that at the scene of crime, the computer remains on. Tools for data collection range from various software such as data recovery, file examination, internet protocol tracking, decryption, authentication and most notably backup. Other notable tools are needed when obtaining data such as hardware imaging tool where bit by bit of data is copied using a method known as a bit stream copy. Data backups are always considered first with a principal objective of retaining the original evidence. Scope Casey (2000) lays out the physical characteristics of digital source where he asserts that it cannot be kept in its original state easily since the computer system records data in binary form that is 0 and 1 where the copied data has user modifications making it difficult to recollect volatile source in its original status. Volatile source can easily be produced hence prone for it being modified or copied raising doubts on its source and integrity. The negative impact posed is the difficulty to deduce directly the relationship between evidence obtained and the suspects as posed to the highly efficient methods such as deoxyribonucleic acid (DNA) or fingerprints that is used for evidence authentication. A computer uses random access memory (RAM) to store volatile data by way of writing current processes in the form of a virtual clipboard for process usage and immediate reference. The information that may be of interest to the investigator include running processes, console executed commands, clear text passwords, unencrypted data, instant messages and the internet protocol addresses. There can be a scenario where an examination of a running system is required involving a computer during investigation. These can be enhanced using home networking technology which allows an investigator to have a small network to facilitate any investigative situation involving a computer. Volatile source data preserva tion and forensic examination analysis will surely be the way forward for many years to come for digital evidence collection. Investigators ability to collect crucial evidence at the crime of scene ought to be critical most importantly when they are provided crime scene collection skills so as to deal with the challenges and workload brought about by

Comparison and Contrast of Judaism and Christianity Essay

Comparison and Contrast of Judaism and Christianity - Essay Example Unfortunately, most people do not share one set of beliefs and this is one of the reasons there are so many religions in the world today. In the very beginning of religion, much was known about paganism and how nature was worshipped. In each religion, someone thought they understood something better than someone else. In contrasting Judaism and Christianity, it is clear to see that both religions have similarities and that one grew out of another. These two religions provide a classic understanding of how sacred thought evolved and how these two religions came to be believed by millions of people world-wide. Historical Development Judaism Between the two religions, Judaism is the oldest. It has as its origins thousands of years before Jesus and traces its roots to the beginnings of mankind (Religionfacts, 2013). Abraham is said to be the creator of Judaism as it was told in the Torah. As the second oldest world religion, Judaism began many thousands of years before Christianity (Spat z,2008). According to historical accounts, God created a covenant with Abraham to form a new nation. He was to leave the place where he was living and move to a different area. It is not known exactly when this happened because it happened before history was recorded; the estimated time period for this is â€Å"around 2000 B.C.E† (Spatz, 2008, para. 3). Both Jews and Christians believe that Moses was instrumental in the early years of their faith. It was Moses that was asked by God to go to the pharaoh and ask for the release of the Israelites (Jews) (Spatz, 2008). When Abraham died, the covenant was made with his son Isaac, then another covenant was done with Isaac’s son Jacob. Jacob wrestles with God (according to the Jews) or an angel (according to the Christians). God change’s Jacob’s name to Israel and he begins the 12 tribes of Israel (Spatz, 2008). Jacob moved his family to Egypt and as time went on, the ruler in Egypt feared the insurgence of Isra elites in Egypt and ordered all Israelite male children to be killed. One Israelite child was put in a basket and placed on a river to escape; he was later found by the pharaoh’s daughter who named him Moses (Spatz, 2008). Moses would eventually move the Israelites out of Egypt and he would eventually receive the 10 commandments from God (Spatz, 2008). Christianity Christianity began approximately 2000 years after Judaism and is said to have started with Jesus and the Disciples. When Jesus and the Disciples began to move through Judea, many Jewish people left the area to study the Jewish laws in other areas while others continued to practice a more pagan faith. Some Jewish people were referred to as zealots because they were fighting against Roman rule (â€Å"History of Christianity†, 2013). As Jesus and his Disciples continued to teach people in Judea, he drew the attention of the Romans and the Jews at that time because he appeared to talk against them (â€Å"A One Page†, 2013). The Romans eventually would crucify Jesus and the Disciples would disappear, because they were not sure of their fate (â€Å"A one page,† 2013). Paul, one of the Disciples, later converted to Christianity, the religion that was begun after Jesus was crucified. He would go throughout the Roman Empire and build churches, preaching Christianity as he knew it. But Christianity would be persecuted by the Romans during the third and fourth centuries AD, because they were accused of creating false teachings and they were still going against the beliefs of the Romans. In the fourth century AD, Constantine converted to Christianity and the Christian persecution was stopped (â€Å"A one page†, 2013). Christianity and

Describe both the general and specific social conditions that existed Essay

Describe both the general and specific social conditions that existed for Nat Turner in Southampton County, Virginia, in the 1830s - Essay Example It is also important to consider whether or not the actions of Nat Turner were warranted or not. The aforementioned issues are what would be succinctly discussed in this paper. It was actually the horrors of the American slavery during the nineteenth century that triggered the rebellion of Nat Turner and his cohorts. It was the anguish that was caused by the alarming increase in the death of African Americans and the annihilation of slave families that triggered the actions of Nat Turner and his followers into conducting what could be described as a rather violent revolt. However, Nat Turner was regarded as a religious fanatic and this could also have precipitated his violent actions in the revolt against the white slave owners. It was due to Nat Turner’s religious zealousness that he was not apologetic in his confession when he was tried in a court in Southampton County (Oates 176-178). killing of his master and his family was unwarranted in any way. The manner at which Nat Turner conducted his rebellion gives one the impression that he was violent in nature. Nat Turner and his accomplices slaughtered defenseless women, children and babies during the revolt (Oates 101-104). It was due to Nat Turner’s rather careless approach to the issue of slavery that thwarted the abolishment of slavery in the South and made the movement to abolish slavery to lose its grounds in the South. It was after Nat Turner’s revolt that white legislatures from the South imposed austere laws on slaves in the South. It was due to the violent nature of Nat Turner’s led rebellion that it is described as one of the most bloody revolt in the history of the United States of America, a situation that led to the death of about seventy whites and over two hundred blacks. One would be forced to ask, what did Nat Turner gain from this rebellion? If the blacks he sought to free wer e actually massacred more than the white oppressors as the case may be (Oates). Thus, the legacy of Nat

As chief accountant of Curtis you are required to write a report to Essay

As chief accountant of Curtis you are required to write a report to the Chairman - Essay Example A Comparison of financial year 2012 with the financial year of 2011 presents that fact that the volume of sales in the retail industry in UK increased by 2.7 percent. Changes in reported retail sales between August 2011 and August 2012 standard reporting periods (by size of business)       Pre-dominantly food Non-specialized pre-dominantly non-food Textile, clothing and footwear House-hold goods Other non-food Non-store retailing Pre-dominantly automotive fuel Total All Retailing including automotive fuel                               increase 107 32 138 72 375 64 23 811 All decrease 97 33 104 77 306 46 50 713    total 204 65 242 149 681 110 73 1524                               Large increase 66 32 110 42 158 30 n.a. 438 decrease 56 33 73 47 107 19 n.a. 335    total 122 65 183 89 265 49 n.a. 773 Small increase 41 n.a. 28 30 217 34 23 373 and decrease 41 n.a. 31 30 199 27 50 378 medium total 82 n.a. 59 60 416 61 73 751 [Ons.gov.uk (1999 ) Retail Sales: August, 2012] With respect to the food merchandise business, there were certain hardships that were faced by the retailer. During the year 2012, costs of both food items and fuel increased, particularly of fuel which resulted in an escalation in the manufacturing cost of the merchandise. Tate & Lyle Plc has in place an import team which constantly monitors the fluctuation in prices of cotton. For the purpose of reducing the cost of fuel, the retailers are now acquiring the help from the appropriate technology to manage the distribution in the most cost effective manner. In addition to that, retailers are now opting annual fixed price contracts. It is considered that the food industry is comparatively remaining consistent. However, it the prevailing market condition especially the low demand of food ingredient in EU countries significantly influence the market and brought the fluctuation the food market. The deterioration in macroeconomic environment as the result of existing financial crisis also negatively affects this sector. Additionally, the market is passing through from the bad time because the consumer and government are more focusing on the healthy lifestyle. A lot of advertisement is doing on the published media, social media to create awareness among consumers to adopt the healthy life style. The second main reason of downward trend of the food market is increase in the sugar prices and other various raw materials. The increase in the input material results in the high price of the end food products. The consumers are price conscious. The purchasing power of the consumer has been tightening due to low income. (b) As the companies being evaluated are situated in Hong Kong, the primary risk that the acquisition of any of these companies entails is that of the currency risk. Curtis Plc needs to have an adequate understanding of what these risks here and how they can be mitigated. The global operations of any multinational require it to a ctively participate in international trade which causes it to be exposed to a great deal of foreign exchange risks. These companies engages in international trade through foreign exchange forward contracts and options and cross currency swaps to hedge various currency exposures. These exposures primarily include assets, liabilities and bonds denominated in foreign currency. Effective financial management requires identification of

Case Study Analysis Example | Topics and Well Written Essays - 3000 words

Analysis - Case Study Example By the End of October 2002, the project was terminated. However, from the report of the Auditor General, it was found that as against the expected $ 38.2 million expenditure, the new project estimate was $ 135.1 million, out of which $ 61 million was already spent. Auditor General found serious issues regarding the corporate governance in Sydney Water. First of all, the reporting of the management to the Board on important issues was not detailed and timely. In addition, the Board did not oversee the project as it was supposed to do. Thirdly, the issues were not properly disclosed in the Annual Report 2002. 1. Cultural attitude within Sydney Water It is evident from the report of the Auditor General that the cultural attitude within Sydney Waters was not befitting a well-functioning organization. One of the main factors that become evident is the widespread belief in the Sydney Water that outsourcing of major projects will transfer all the risks to the contractor and that there is no need of the user cooperation in the process (Review of Sydney Water’s Customer Information and Billing System, 2003). The GM-Customer Service was of the opinion that by paying a premium to PwC, the fixed price contract would give a strong legal backup to Sydney Water. The same view was expressed by the Audit Committee and the whole Sydney Water management. So, they were not so keen in updating their risk management process, and were not interested in following up the DMR recommendations. Another issue is poor record keeping. Some important documents that were found missing in the Auditor General’s review were final business case, tendering processes, and net present value calculations for the project (ibid). Another point is the totally lethargic attitude exhibited by the Board of Directors. It is a well-known fact that the Board is directly responsible to the stakeholders, and hence is responsible to act in a manner that protects the interests of stakeholders. Hence, it is for the board to deal with challenges and issues relating to corporate governance, corporate social responsibility and corporate ethics. As a part of this, it is the responsibility of the directors to make sure that proper books of account are kept. However, in the case of Sydney Water, it can be seen that the board failed to control the whole procedure in a proper way. Firstly, it initiated the process without a proper architecture framework in place, and then failed to avail and analyze the progress of the project. When its managing director, steering committee, and other responsible ones failed to function as directed, it failed to take necessary actions to ensure compliance with the company strategies. In addition, one can observe that officers ranging from the project manager, the steering committee, and general managers of customer service acted in a lethargic and careless way. They failed to provide adequate reports and to follow the usual procedures of communication i n the group. On the one hand, there was lack of common consensus about the responsibilities of each stakeholder, and on the other, they did not care about the interest of the company and its stakeholders. In the words of Schwalbe (2008, p.6), a successful project should meet its scope goal, cost goal, and time goal. It is very evident that the CIBS project failed to meet all the three goals. To meet these ends, the management should show good human resource

The Use of Spearman Rank Correlation Coefficient by Messina and Coyne Term Paper

The Use of Spearman Rank Correlation Coefficient by Messina and Coyne - Term Paper Example From this research it is clear that in statistics the Spearman’s rank correlation coefficient (SRCC), also known as the Spearman’s rho, is greatly used. This provision derives its name from Charles Spearman and may be denoted by symbols rs or P. Maturi and Abdelfattah clearly explain that as a non-parametric measure used to gauge statistical independence that may exist between two variables, the Spearman’s rho is used to assess the most appropriate way of describing two variables through the use of a monotonic function. The Spearman’s rho is used mostly when both independent and dependent variables are ordinal, or when one of the variables is a continuous one, and the other an ordinal numeric. Conversely, Spearman’s rho may be used when the variables being measured are both continuous. In the article by Messina, Scott, Ganey, Zipp and Mathis it is clear that the use of the Spearman’s rho is very plausible. This is because patient satisfaction is not only the independent variable in Messina’s research analysis but also a continuous variable. At the same time, patient admission across teaching and nonteaching hospitals acts as both a dependent and continuous variable. Thus, in this work by Messina et al. the Spearman’s rho is used to study the relations that exist between the dependent variable and independent variable, and these variables are being represented by the volume that has been measured by admissions and the patient contentment mean score respectively. The use of Spearman’s rho’s correlation analysis is seen in the fact that Messina and his companions carried out the analysis on a pooled sample of seven nonteaching and seven teaching hospitals. It is from this development that the differences between the subsamples in teaching and nonteaching hospitals are analyzed through the use of Mann-Whitney U-Test. From this juncture, it became possible to determine whether or not there is an e xplicit association between admissions and patient satisfaction mean score in respect to the two variables. As one reads the study, it becomes clear that the mean for all admissions in teaching and nonteaching hospitals is 19,111 within the time frame of 1999-2003. The range is from 4,513 to 70,465. The mean score for the aggregate patient satisfaction is 82.57 within the five-year timeframe. The minimum aggregate is 79.0 while the maximum is 86.18. The use of Kurtosis as a form of descriptive analysis indicates that the mean score for patient satisfaction was normally distributed. In a nutshell, the use of the Spearman’s rho indicates a strong negative correlation between hospital admission within a given sample and patient satisfaction (rs = -.287, P = .018). The import of all these results is that lower inpatient volumes (in both teaching and nonteaching hospitals) are compatible with or relatable to higher patient satisfaction mean scores. 2) Comments on the Variables Use d and Spearman Rank Correlation Coefficient It is a fact that the variables that have been used by Messina, Scott, Ganey, Zipp and Mathis (2009) are very appropriate and applicable to the determination of the Spearman’s rho. Spearman’s rho determines the statistical independence between two variables, and it is a fact that Messina and his group use two variables: patient satisfaction and inpatient admissions in teaching and nonteaching hospitals. Again, just as Maturi and Abdelfattah (2008) explain, the Spearman’s rho is applicable in an area where one variable is continuous and the other an ordinal numeric, or where both variables are continuous in nature. Messina’s et al. (2009) independent (patient satisfaction) and dependent (inpatient admissions in teaching and nonteaching hospitals) variables are both continuous. These characteristics make the variables used qualify for Spearman’s rho analysis, so that, in light of the specific requirements o f SRCC, there is

GBST300 Essay Example | Topics and Well Written Essays - 250 words - 4

GBST300 - Essay Example It absorbs several American citizens in its personnel lineup which contributes to increasing overall income distribution and reduces unemployment. Despite all its outlets spread across the world, it has the head office in US where all decisions are made with significant production process controlled from within. This means that significant returns from its outlets in other countries are repatriated back to USA which contributes to overall growth of economy. Walmart need to consider its stand on environmental care and corporate social responsibility which will address the importance of the society on its existence. There is also the need to improve employment terms as this is critical to its sustained performance and overall public image. The emerging trend in business society where organization rating is pegged on commitment to the society besides shareholders welfare put Walmart in a place to care about the welfare of the society on top of the shareholders. This emerging approach is subject to the market trend. The increasing dynamism in the global businesses practices does not promise consistent sourcing and such treatment of employees. It is therefore important to note that Walmart is increasingly becoming under the global spotlight on some of its practices hence push to

Industrial Relations Essay Example | Topics and Well Written Essays - 2500 words

Industrial Relations - Essay Example On the example of relevant studies and researches, a special attention is paid to the influence of globalization in LDCs’ manufacturing sector. 1. Introduction The modern phenomenon of globalization is a wide-spread issue for the discussion in numerous researches and studies. It cannot be denied that various dynamic phenomena are correlated with this background. The limits of different nations are blurred and it is appropriate to focus on specific criteria for development of different employment patterns, which differ from the ones, which existed previously. Actually, there are many different aspects of globalization and we will further focus on economic globalization. With respect to it, we found it necessary to define the phenomenon of economic globalization: â€Å"Economic globalization refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and ra pid spread of technologies. It reflects the continuing expansion and mutual integration of market frontiers, and is an irreversible trend for the economic development in the whole world at the turn of the millennium1 † It can be surely claimed that the development of technologies and flow of international capital across different countries enable foreign markets to create a great number of new jobs. Employment goes at a full pace, but very often this process evokes numerous different reactions of the society. On the one hand, globalization has been gradually increasing in the world of economy and different changes happened to foster the processes of globalization. 2. Economic Globalization: Pros and Cons in the Manufacturing Industry of LDCs Let us focus on the economic globalization and its impact on less developed countries (LDCs). In this case we will see the following picture: tariff barriers for international trade became much lower and there is a coming process of a high -speed market development in the world. The world trade, goods and products are on the way of their constant expansion and development. As a result, the cost of transportation and communication around the world are expanding the laws of international regulations. Consequently, conditions of employment for the employees in different fields should be correlated with the options of investments and a free financial flaw. It was found out by Lee (1996) that â€Å"there  is  a  significant  current  of  apprehension over  the  implications  of  globalization  for  employment  and  income  inequality.On  the  face  of  it  this  is  difficult  to  reconcile  wih  the  voluntary  shift  towards  a more  open  world  economy  in  democratic  societies,  which  are  also  the  only countries  where  the  apprehension  is  voiced†2. Moreover, LDCs have many opportunities to follow credit process line of the government and the global society to improve their production. Less developed firms are encouraged and supported internationally. There are many winners in employment nowadays, but there are many losers as well. Globalization often leads to job losses, but at the same time it can create a number of interesting and prospective jobs. There are different patterns of global trade and employment generation is on the prospective edge of having many opportunities for development. Economic  globalization  has always intensified changes of employment patterns. This resulted

The result of mixing calcium carbonate + hydrochloric acid Essay Example for Free

The result of mixing calcium carbonate + hydrochloric acid Essay I will set the apparatus out as shown above. To make it a fair experiment I will always add three marble chips and 10ml of acid to the test tube, for the first experiment. The clock will start with the test tube is secured with the bung. I will count how many bubbles come out in a minute. I will also check at certain intervals how far the bubbles of CO2 have reached in the burette (cm3). For the second experiment I will place 5 chips with roughly the same weight into separate test tube. The different test tubes will have a different acidic strength (molar). When The marble chips and the acids are added together I will time how long it will take for the bubbles to stop. Prediction: I predict that as the concentration of the acid decrease, from the selection I have chosen, the time of the reaction will increase, as the acid will consume the marble chips slower. There would also be fewer bubbles, coming out of the delivery tube, which is connected to the boiling tube. For the second experiment I predict that as the concentration of the acid increases the chips will be consumed quicker and the bubbles will disappear. Other experiments: Other ways in which I could have measured the rate of reaction was to use different weights of marble. For example I could have used only one marble chip or grinded a marble chip or I could have used 1-? amount of marble (as long a I had the resources). I could have measured how long it took the bubbles to fill up to reach 40, 30 20 etc. Results (1st): Concentration of acids (M) Bubble Count (1st) Bubble Count(2nd) CO3 (5 seconds)(1st)Â  24 13min, 11sec Graph: From the results I have retrieved I will make two graphs to explain the experiment. I will use two line graphs to do this. (Look at graph paper). Analysis: From the results I have found and the tables that I have drawn I can tell that as the concentration of the acid, in molars, increases there are more frequent appearances of bubbles and the burette fills up with CO3 quicker. For the second experiment I have found that there is a pattern as in the first table all the lines seem to curve in practically the same way. The graph allows me to measure the gradient accurately. From the table I can see that as the acid molecules were more stronger they worked quicker to consume the marble chips that had a quite a bit of surface area. From the results I found I believe that my prediction was correct. I said that as the acidic concentration increased the marble chips will be consumed quicker. From the two experiments that I did I believe that the rate of reaction experiment was more better than the other as it gave me more results. Conclusion: From all the experiment that I have done, on the rate of the reaction and how long it takes certain acids to consume marble chips, I have concluded that my experiment was successful in the sense that all the measurements gathered were accurate and that they showed the needed result to make the tables. I think that the acidic concentration effects the marble chips in the first experiment. And in the second experiment I think that acidic concentration also effects the marble chips in this experiment as well. Evaluation: From the results I have retrieved the quality of them depended on the accuracy of the instruments I used. These instruments included a burette to collect the CO3, a measuring cylinder to measure the liquids I was using and a clock to measure how long the experiment ran. The burette was only accurate to 1 millimetre so 1/10 of a centimetre. The measuring cylinder was only accurate to 1 millilitre. The clock was only accurate to 1 second so it was hard to interoperate where the pin exactly stopped, if it stopped in the middle of the second markers. The top pan balance was only accurate to 2 decimal places and 0. 00g. The acids were in molars and as the results were retrieved on different days the concentration may have varied in this period. The marble chips werent weighed in the first experiment so they may have given an inaccurate result. The accuracy of the reading I took were hard to see as it was difficult to determine, whether the marble chip had dissolved in the acid. The clock sometimes didnt start when the lever was moved upwards. Each reading that I took was repeated at least twice. From these two readings I made an average conclusion to plot the graph. The only abnormal and uncommon result that I spotted was in the second graph. It was the point where the 3(M) mark was plotted, it was not supposed to be there. The good points about my method were that they were repeated enough times to make an average and hence eliminated any chance of there being a mistake. The bad points about my method were that the marble chips were not always the same weight. The solution of the acid was not measurable so you have to make an estimate the concentration of the acid. As the results were taken on different days the temperature in the room may have varied through the duration of the experiments. I could have used a more effective clock to get better readings. I could have proceeded to use larger amounts or other concentrations of acids. Instead of the experiments that I did I could have done something different for example collecting the gas in a test tube and seeing whether or not it was flammable. Instead of having to repeatedly count the bubbles, which passed through the burette I could have used a laser to count the bubbles.

Why is Corporate Governance Important?

Why is Corporate Governance Important? What is Corporate Governance? Why is it important for Business? Corporate Governance can be defined as the organizational structure of a company. It encompasses the overall processes, operations and policies by which a company is controlled and functions. According to James McRitchie corporate governance is  ¹most often viewed as both the structure and the relationships which determine corporate direction and performance`. Within the governing body of a corporation there are various stakeholders. Stakeholders are individuals which are of great importance to the company because they contribute directly or indirectly to its economic activity. Stakeholders retain different degrees of importance within an organization depending on their title or function which are some of the following: shareholders, the board of directors, employees, customers, creditors and suppliers. All together this group of individuals defines a corporate community in which day to day business is conducted and must be sustained in order for the company to survive. Similar to any other community, where there are conflicts of interests, miscommunication, or other organizational problems it affects the entire community and others around it. However is this applicable to the business world? Is corporate governance important for business? Firstly corporate governance implies the notion of hierarchy. As mentioned above the rights and importance of any stakeholders involved in the economic life of the company varies in function of the roles the individual holds. Following this logic we can identify the key actors within the governing structure of a company: shareholders who own shares of stock and have a right of ownership over the dividends which they receive from their stock and the right to vote on company matters such as electing the board of directors. In return the members on the board of directors oversee the management of the company and are paid in cash or stock for the responsibilities they are obliged to fulfill by contract to the company. In terms of internal management the employees of the company supply their skill and expertise in exchange for financial compensation (salary and bonuses). Another important stakeholder is the customer, who pays for the companys product or services because he/she believes in the value it retains for them. Amongst other stakeholders such as suppliers and creditors the customer is essential to a companys activity because a satisfied customer base represents 80% of a companys profits. In order for us to understand corporate governance it is important for us to comprehend that it is a multi-lateral issue, and thus it influences the choices of stakeholders and the outcome of company transactions and relations with the rest of the world. It is important for companies to take into account external factors such as: competition. In order to stay solvent and relevant, companies must engage respective strategies and face other corporate adversaries on the free market. Equally debt management is important as companies need to make sure that their assets outweigh any short-term and long-term debts on a regular basis. Also government regulations should be taken into account as they differ from country to country. For example in the United States corporate governance is known to be very free-market orientated but in North Korea legislation has a tough hold on corporate decisions. Finally the media and other instances are actors of external pressure as they force companies to uphold a certain social standard in their day to day operations, public relations and more and more today their ecological impact on the environment. In todays economic climate no company can afford to be scrutinized in the mass media as this decreases th eir popularity and trust with clients. The trust of clients is an immeasurable asset that can almost never be reacquired once it is lost. Take for example the American International Group that was under a severe media backlash back in 2009 after it was discovered that it was paying huge bonuses to employees of its financial services department during the financial crisis. President Obama expressed his discontentment during a press conference:  ²its hard to understand how derivative traders at A.I.G. warranted any bonuses, much less $165 million in extra pay. How do they justify this outrage to the taxpayers who are keeping the company afloat? Existing customers and potential customers need to be reassured by a companys, performance history, social responsibility initiatives but overall its integrity. And this is why corporate governance is critical for business; the atmosphere which it creates has to be one of congruence where it can be held accountable for doing what it says and what it stands for. Another one of the facets of this is issue the internal domain of corporate governance, where the management structure (CEO, middle management) is concerned with maximizing company profits in order to increase shareholders profits. This is motivated by a prospect of self-interest and higher gain (promotion, bonus etc†¦) which generates a need to perform in order to reach that goal. Likewise employees are motivated in a similar way to do their job. However their needs are not directly correlated with that of the members of the upper management structure who have larger responsibilities and more information within the same organization. This situation is called information asymmetry when one corporate body has more information than another. This can create conflict within the workplace if this type of imbalance is not managed. Furthermore employees working in high profile positions such as CEOs may be prone to act out of character and make bad decisions because of the immunity the y may enjoy through their status. For example the Jerome Kerviel former French trader of Societe Generale abused of the companys confidence to commit fraudulent transactions during his late professional career. As a result, the company lost:  ³near â‚ ¬5 billion ( £3.7 billion) in a rogue trading fraud according to the London Times. This example of bad behavior known as a moral hazard, when an individual protected from risk within an organization behaves differently than he or she would have behaved if they were fully exposed to the risks they took. In order for companies to protect their clients and themselves from similar fates they must implement effective rules and regulations that enable internal and external auditing bodies to monitor theyre day to day activities. Therefore rules that corporate governance create must be strong, as the Italian philosopher Niccolo Machiavelli said: Where there are sound laws there is a strong army, for there cannot be a strong army where there are not sound laws. Corporate law ensures that natural rules and regulations are in place in order to encourage correct business practices in the corporate world. Overall good corporate governance should input regular auditing processes. Interiorly, within the company itself an internal auditing body should monitor the companys financial health. In addition to this, the same should be implemented exteriorly through an external auditing company in order to get an objective perspective on company statements and verify their integrity. Also a sound board and management system must be put in place, separating every main executive function throughout the organization. Historically this minimizes the moral hazard factor in the workspace and encourages transparency and a clear flow of information within the institution. The Toyota Motor Company is a fine example of this; the company management structure allows the free flow of information and enables each employee to contribute to operational activities at every scale of the production process. This has had positive effects for Toyota mainly in terms of productivity and logistics efficiency. Finally all stakeholders should be aware of their rights and duties; this minimizes confusion in long-term strategy and goals of the company. Furthermore a clear ownership structure is critical to a corporations legal validity; it has to be a registered and recognized institution according to the appropriate corporate law regulation of the country in which in conducts its business. In conclusion corporate governance is an important component of business. As we have demonstrated affects every facet of business organizations and the various stakeholders involved. Furthermore because of the hierarchal nature of corporate governance it becomes evident that good leadership is equally essential. Members within executive, managerial, technical and administrative positions have to work within their respective roles to create an atmosphere of seamless affinity in terms of corporate governance. Leadership is important but in the context of corporate governance the whole body of the organization is vital, hence the root of the word corp in corporate. Nevertheless corporate governance must retain a standard of order; this is where the term governance gains more weight. Historical facts show that sustained order is the key to the long-term effectiveness of an organization; General Electric is prime case of this. Within the 200 year life span of the company, good choices and exceptional leadership have made General Electric today the most valuable company in the United States with a market cap of 300 billion US dollars. From this we can draw the conclusion that corporate governance is indeed important and will surely continue to gain more and more value in the world of business in the future.

The Core Aspects of Marketing

The Core Aspects of Marketing Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Kotler P Marketing is the set of human activities directed at facilitating and consummating exchanges. CIM The Chartered Institute of Marketing define marketing as The management process responsible for identifying, anticipating and satisfying customer requirements profitably According to my point of view AMA (American Marketing Association) says that marketing is an activity, which an institute does a process like communicating, delivering, and exchanging offerings to have a valuable customer or clients. According to my point of view Kotler P says that marketing is a human activity which facilitates in doing their final activity in exchanging their products. According to my point of view CIM (Chartered Institute of Marketing) says that it is a management process which is responsible for identifying and satisfying the customer requirements very usefully. Small history about my selected organization -LG (Lucky Gold star) The company was originally established in 1958 as Gold star, producing Radios, TVs, Refrigerators, Washing machines, and Air Conditioners. (LG-MARKETING-Mix) (http://www.docstoc.com/docs/12163409/LG-MARKETING-Mix) According to these three definitions LG is following AMA (American Marketing Association) definition. AMA defines as marketing as the institution which does the social service to the customers. This is what LG is following; their main aim is also todoa social service to the public. TASK-1.2 Out of the orientations that exist, try to identify to which orientation the organization belongs to and justify your selection with appropriate examples taken from the organization Orientation Orientation means persons attitude or adjustment in relation to a particular event. (Dictionary) Orientation is a function of the mind involving awareness of three dimensions: time, place and person. Problems with orientation lead to disorientation, and can be due to various conditions, from delirium to intoxication. en.wikipedia.org/wiki/Orientation_(mental) There are four types of orientations those are: Product Orientation Sales Orientation Market Orientation Production Orientation Product Orientation Product orientation means an organization which mainly concentrates on their products to make profits at the same time to fulfill the customers needs. When the production process is going on the employees who are working their will mainly concentrate on the proper packaging method the best quality method. E.g.: If we look upon the example, because of the proper packaging method customers will get attracted to a particular product they will buy it without any hesitation. We can say magi noodles are best examples for that. When a business bases its ability to make profits on the high technical quality of its products, rather than on customer needs. (Lexicon) Sales Orientation Sales orientation means an organization which mainly concentrates on their sales on a particular time period like a year, month and week. In any organizations their main view will be their sales volume their sales cost etcà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. E.g.: If we look upon the example in sales orientation we can say LGs phone business as a best one, because of their standard products people get attracted they will buy automatically. Market Orientation Marketing orientation means an organization which mainly concentrates on how to market their product to the customers. In this method the organization will target a particular group to increase their profits. E.g.: If we look upon the example in market orientation we can say Babies are a good target group in which we can earn more profits than the other target group. Production Orientation Production orientation means an organization which mainly concentrates in the production line. Where they mainly concentrate on the needs and wants of the target market, rather concerning about the production techniques etcà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ E.g.: If we look upon the example in production orientation LG is following the Market sales orientation method because to capture the customers to their selves. They are actually targeting their groups at the same time they are producing different products. They are feeling very comfortable with the market orientation method. TASK-1.3 Examine how the selected organization is responding to the emerging new trends and compare the orientations exist in the market place by taking examples. According to LG, new trend system is not a big matter for them because they are always analyzing the customers needs wants according to their environment. LG is an organization which always looks for their opportunities. LG is providing advanced technological equipments to develop their products according to their latest trends, which is available in the market they are proving that they are market oriented organization. Their new technology has proven that is a big driver for the new product development development for their existing products. So, their new technological trends are always proving that their ultimate opportunities to the firms to develop their products in a new way. If we consider about new trends that LG organization had followed to satisfy their customer, we can see several new things that they are using in their organization. There are some examples for it. LG planning to introduce all new experimental e-paper. In the field of electronic display LG organization is in a higher place. Because LG organization is in the field of electronics for nearly 40 years. They are always trying to do new experiments on new technology items. So, LG have planned to introduce two new experimental methods those are e-papers which will be available in the market in the form of a 19 inch flexible e-papers display a 9.7 inch color e-paper display. (LG trends update) LG electronics introduces the worlds slimmest OLED 3D TV at IFA 2010 LG has designed its new product in concord with 2010 borderless TV series home theatre system with new colors patterns. According to the LGs display search method, North Americans Blue-ray players market forecast is bright; in 2009 up to 4.44 million were sold, Blue-ray players expected that it will get sold up to 7.85 million in 2010, but it did not. Because of that they will continue to increase intensely by 17 million by 2012. In response to this huge growth of Blue-ray market, LG has doubled their sales to 2.5 million which followed from last years profit of one million sold. LGs ambitious plan is to sell 1.2 million Blue-rays players to North America, Which is a largest market in the world. One of the biggest names in the field of consumer electronic products, LG Electronics, has taken the IFA 2010 export system in Berlin, Germany; they have taken the 3D revolution to new heights. (LG Trends Updates) LG unveils an all new residential solar power Hybrid Air conditioner Nowadays there is a great concern about Green House gases in the atmosphere about the depletion of the ozone layer. Because of the heavy storm many products are getting green treatment, especially in the consumer electronics good, where now many companies are introducing highly energy well organized products which provides 100% reliability to do their best to save the environment.(LG Trends Updates) LGs Promoting New Blue-ray Players in US Whats LGs grand plan for promoting their new Blue-ray players? Target the US market. LG Electronics launched their brand new inventive Blue-ray players of 2010 at the Consumer Electronics Show (CES). LG electronics has strengthened its strategic alliances by developing the enterprise thus they will target the Blue-ray players market. LGs head Kang shin-ik, said that The combination of our technology and partnerships with content-making corporations has paved the way to control over the Blue-ray players market.(Digital trends) LG will start the source of power to dominate the Blue-ray players in the market of North America; Because of the advanced Blue-ray players they can run the movies, music, can show lots of other entertainment, like showing the weather forecast via internet this a great plus for the organization. Furthermore, we can use various contents by simply pressing the shortcut button on. By the net cast method LG is mechanizing the whole content services which are applied to broadband TV, Blue-ray players the home theatre system. LG introduced the Blue-ray system method in the second half of 2008, which also permitted Netflix contents. We can say that Americas number one online movie rental website is Netflix. Also LG added YouTube, the worlds popular video website of UCC in the first half of last year; their fore all the users can watch the videos in YouTube of the definition of Blue-ray players. As a result LG is providing some usefulness to the customers, where can watch more than 12,000 high-quality movies, TV programs UCC videos etcà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ This technology method will get uploaded by 13 hours capacity where in their own living room or bedroom. What we have to do is just to click the Blue-ray player it will do all the work for you. LG is further expanding their Blue-ray network. They will expand their Blue-ray system to a higher level thus in the near future. LG is tempting to the Blue-ray player, which is connected to the internet other multimedia devices such as Wi-Fi Digital Living Network Alliance (DLNA). Through this method users can use the network by their PCs they can use to run movies other files. (Digital Trends) Conclusion-In my point of view I would say that always LG is moving to the new trends, because to invent new technologies other items. Their main is to satisfy the customers by their wants according to their environmental culture. TASK-1.4 In your view point explain the cost and benefits of the marketing approach of the selected organization If we see upon this topic this is an interesting exiting topic.Cost benefit of an organization plays a major role in an organization. Cost means how much amount that is paid to purchase a product benefit means how much advantage we too ked from that product. For this procedure organization is using lots of method to increase their benefits. When we are considering about LGs cost benefits procedure they are using different kind of cost techniques at the same time they are also getting the benefits too. If we buy a LCD TV in LG in the big size like 32 inches more we can have a small home theatre system for free. If we buy any high rated product from LG the employees who are working will give a good service to the buyer like taking their product keeping in their vehicle. There are providing best facilities for their customers. Facilities like Air conditioning the full place it means keeping the entire place cool allowing the customers to park their vehicles They are using some new technologies communication method like hoarding, posters, banners other methods to grab the attention of the customers. If we see upon the benefits LG organization is providing to the customers giving special discounts in the festival time. In the above category there are some costs benefits which are provided by LG. The Awards which LG got If we see upon the awards which LG has achieved, we can say many things like LG got the award for the innovative organization for their creative thoughts in the years of 1989-1994. LG got the green products award in 2009 for their step towards better environment. LG got an award of CES wireless handset which is for the electronics. Like this LG organization has got many awards. Customer Satisfaction If we see upon the customer satisfaction level in LG its really good, because all the employees who are working in LG satisfying the customer needs perfectly according to their requirements. For the second consecutive year, LG has got the highest rank in customer satisfaction with the clothes washers dryers according to the J.D Powers method. Market share LG is a worldwide company where moreover employees are working to satisfy the customers. LG has a biggest market share in the world. If we see upon the market share of LG it is having about 65% in the world Strong brand name If we see upon the LG it is a reputed international firm which has a diversified product line in the electronics field, so LG has a strong financial position which is big strength for the firm. Conclusion- In my point of view I would say that LG is charging only few of money, but they are giving lots of benefits to customers. They are getting more awards for their creativeness, satisfying the customers in a best way, keeping a good market share in the world having a strong brand name in the world. TASK-2.1 The macro and micro environmental factor influences of the selected organization marketing activities. Macro Environment Macro environment means the external factors which will affect a companys planning and their performance which are beyond their control. Micro Environment Micro environment is an environment which covers a small area of a particular organization. This studies about the individuals, household and firms that make decisions to all to allocate the limited resources, where goods services are being bought sold. In the micro environment there will be customers, competitors, suppliers the public (marketing Mimi.hu) Macro Micro environment in LG This is the environment which effect the organization externally. By analyzing this environment you can get the opportunity avoid the threads. Macro environment Political factor Economic factor Socio-cultural factor Technological factor Political Factor If we see upon the political factor there is being a major issue in Pakistan. There political conditions have made industry very unstable. Because of that issue all the other LG firms around the world are getting affected. Economic Factor If we see upon the economic factor Gross Domestic Product (GDP) is an important thing to any organization. If the GDP is high then the disposal income will be high at the same time spending power will also increase. So, we have to mainly consider on the inflation method because if the inflation increases products prices will increase this will affect the customers buying pattern, but if the inflation decreases products prices will go down this will help the customers to buy more products at the same time. So we should carefully handle these problems. Socio-Cultural Factor LG is a company which originated from Korea according to that other countries adapted Koreas culture. There are social forms of society which contain of Upper class, middle class lower class. Every country has cultural standards, values, beliefs and religion which can affect the organization. Technological Factor Nowadays we can see that technology is improving a lot. Due to the new technologies internet, communication system other methods are introduced. Because of these technologies people are getting more benefits like sending the messages very quickly by internet, speaking to their relatives other well-known people who are in abroad. Because of the improvement of new technologies LGs products became cheaper their quality of product has been increased. Micro environment of LG Employees The number of employees of LG electronics stood at approximately 82,000 at the end of 2007. Many of the people are working overseas in the LGs firm. The people who are working in overseas should try to increase the localization strategy. In the world 16% of female employees are working as total domestic workforce. The average of the total male female workforce is 33.8 years; totally 0.8% of the disabled people are working in the total workforce. (Market share of LG) Suppliers In the LG firm all the management people are well skilled they are keeping a good relationship with the other members. LG is a qualified organization so they always go to the qualified suppliers. In this all the suppliers are from different countries like China, Italy, France, Japan USA, So supplier is a main part in an organization. LG is getting the supply products from Abans. Customers LG is a worldwide organization, so according to the brand name many customers will come to buy the product to satisfy their needs wants. LGs products are most probably suites for the people who are interested in the product. Competitors In every field we can see there is a big competition among the organizations. If we see upon the competitors in LG there are many of them. We can say Samsung, Sony, Singer, Whirlpool many companies for the competitors. Management Managers are the people who are responsible for the managerial work. So, Managers role is very important to any organization. If we see upon the LG management it is very good in solving its risks. LGs managers are very helpful to the customers, because if there any problem occurs managers will try to understand the customers problem theyll try to solve it. Conclusion- In my point of view I would say that LGs macro micro factors are really helpful to the employees who are working their to the customers who are coming to buy the product. TASK-2.2 Identify and explain the segmentation criteria used in the domestic marketing approach (both B2C and B2B) Segmentation Segmentation means a company which operates in a broader market to target a group of customers with their specific characteristics. In segmentation we cannot satisfy all the customers needs at the same time, because all the customers buying pattern will be varied in according to their requirements. There are four types of segmentation criterias Those are: Geographical Segmentation Demographical Segmentation Psycho graphical Segmentation Behavioral Segmentation Market segmentation of LG is very simple easy to understand. Geographic: If we see upon the LG firm in the region wise they have it in different countries. They are following this method to capture the market all around the world. If we see upon the LG firm in the city wise they have the companies 80 km distance another company to keep up the team sprit among the members. Demographic: Second base is the demographic segmentation method where it will mainly consider about the income level. If the organization is targeting a higher class company LGs segment will be consumers with high income levels. Psychographic: Third base is the psychographic segmentation method where it will considers about the classes like upper class, middle class the lower class. Psychographics includes some variables those are: Activities- If we look upon the activities which are LG is currently doing we can say many things like LG doing after sales service to the customers other activities. Interests-If we see upon the interests that an LG person has, to create new things like creating a new technology item into the market. Behavioral: Behavioral is another method in which where the firm will mainly consider about buyers behavior. In this method the organization will give lots of benefits to the customers like giving the products in a good quality one. Conclusion-In my point of view I would say that segmentation means a company which will have a broader market targets a group of customers who will have the specific characteristics. These four criterias are helping the organization to be in a good position. TASK-2.3 Outline the factors which influence the choice of targeting strategy for the selected organization. Targeting LG has targeted the market on the basis of the product that they are offering to the customer they are also targeting the consumers who are more concerned on their safety health issues. They are Targeting: Upper class segment-Targeting the upper class people who will buy more of the product. Upper end-Targeting the middle class people who will buy a some of product. They are also targeting those consumers who are taking more concern about their life style product. Because LG is a world class company all the consumers are thinking that they need quality products. LG Company is having the LCD plasma television the TV DIOS refrigerator for the premier segment. LG is now going to shift from middle class segment they are moving their product to the mass market. Basis of selecting the Target Market Basis of selecting valuable customers, that means selecting the best customers who are buying their products at LG without looking their costs. LG organization is targeting people like this to earn the profit at the same time to give a good service to the customers. Conclusion- TASK-2.4 Explain the activities undertaken by the organization to influence the buyer decision process and based on your findings explain the organizational and business buyer behavioral characteristics affecting the selected organization. TASK-3.1 Analyze the different product/ services offered by the organization and explain how the products and services are developed in order to achieve a competitive advantage. Product If we see upon the product it is the main important function in the 4ps. LG is striving to gain the market leadership position so they have thought to bring new innovative products to the market. To gain the market leadership position they are introducing new products to the market like the Quadoor refrigerator other new products. If we see the products in LG they have categorized into four that is Digital Appliance, Digital Display, Digital Media, Mobial communication. In this four types we can see which product is in which category, the products are showed below Digital appliance- Air conditioner, Refrigerator, washing machines, vacuum cleaner, Microwave ovens etcà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Digital Display- TVs, Monitors, video tapes, DVD-R Disc etcà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ Digital media- Optical storage, Audio, notebook, PC, DVD player etcà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.. Mobial communication- Mobial telecommunication, WLL handsets, Telecommunication systems etcà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ In this four category we can see all the products which are available in LG. we can always expect that the products quality will be good at the same time we can say that that the products will be in the latest technology. TASK-3.2 What are the distribution channels used by the organization in order to increase the customer convenience and evaluate it. Currently LG is using the distribution channel of Pak Electron (Pvt.) Ltd. that is very intensive and strong distribution channel that enables company to make its products available company wide. So there is strong distribution network owned by LG. (LG Quadoor) According to the places of LG it has many outlets in Sri Lanka Distribution channels-Teleseen marketing

Managements Achievement Claims Perspective :: essays research papers

Management's Achievement Claims Perspective It is to no one's surprise that Coca-Cola is one of the world's largest companies. Fourteen years ago, Coca-Cola began building credibility to its investors by never over-promising, just consistently hitting long-term growth targets. In Great Britain, Coca-Cola surpassed two leading teas of consumption per capita. People said it would not be possible, but Coke did it. That is just one example. Coca-Cola's management believes in the theory that people need 64 ounces of liquid everyday to survive. Right now, Coke only accounts for an average of less than two of those ounces. They believe that by adding strength to the world's strongest brand, it will help people make Coke a more frequent choice for those 64 ounces. The part of this Annual Report that I personally wanted to attack was the lack of sales in Canada and Coca-Cola's goals in improving them. Being native of Canada and a big Coke fan, I know that Coke has struggled in my homeland for several years. M. Douglas Ivester answered my concern by stating that Coke allowed the retail prices of their products to out pace their value in the eyes of our consumers. Since 1994-1995, Canada's unit per case volume increased 4%. Coke is expecting an even greater increase in 1996 because their Canadian bottler signed with two major grocery retailers. Coca-Cola used Canada as a lesson they can use as a guide worldwide never repeat.   Ã‚  Ã‚  Ã‚  Ã‚  CEO, Robert Goizueta believes that there is no limit to your growth. He will not allow boundaries to be set. It is evident to me that Coke is not setting boundaries considering that they have a bottler in almost every corner of the world. Coke is focused on strengthening world wide markets and creating new ones. In this report, they state how the will improve sales in Nigeria, China, South Africa, and Canada.   Ã‚  Ã‚  Ã‚  Ã‚  Of all the Financial Reports I have read (Anderson Consulting, Home Depot, Green Park, etc.), Coca-Cola is a company in which I believe what the management claims. Coke has a great responsibility of making investors, employees, and consumers happy all over the world. Why would they blow it Coke realigned their management team at the beginning 1996 to more accurately reflect the global nature of their business. That says growth all over it. Comparison to Industry Standards   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Coca-Cola  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Industry Standard 1.)  Ã‚  Ã‚  Ã‚  Ã‚  Quick Ratio  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  .2  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  .7   Ã‚  Ã‚  Ã‚  Ã‚  This states that Coke through these calculations is not   Ã‚  Ã‚  Ã‚  Ã‚  as liquid as the industry standard. 2.)  Ã‚  Ã‚  Ã‚  Ã‚  Current Ratio  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1.0%  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1.4% 3.)  Ã‚  Ã‚  Ã‚  Ã‚  Profit Margin  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  11%  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  9% 4.)  Ã‚  Ã‚  Ã‚  Ã‚  Return on Equity  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  55%  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  9.5%   Ã‚  Ã‚  Ã‚  Ã‚  This is very good percentage, above industry standard. 5.)  Ã‚  Ã‚  Ã‚  Ã‚  Asset Turnover  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1.2%  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  3.6% 6.)  Ã‚  Ã‚  Ã‚  Ã‚  Return on Assets  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  20%  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  8.5% 7.)  Ã‚  Ã‚  Ã‚  Ã‚  Debt to Equity  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  75.3%  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  66.5%   Ã‚  Ã‚  Ã‚  Ã‚  A little high compared to industry, but still has not   Ã‚  Ã‚  Ã‚  Ã‚  peaked at 100%.

Trifles Essay -- essays research papers

Trifles, written by Susan Glaspell, is a real life murder case that uses symbolism to help solve a mystery. Glaspell's use of dialect, set on a midwestern farm, emphasizes the town's gender-separated society. Isolationism, a quilt, and incomplete house work are the three key symbols in the play the help the reader figure out who murdered Mrs. Wright's husband. First of all, isolationism is an important clue in the murder case. Mrs. Wright's farmhouse is located in a hollow, down in the woods, which puts her in a secluded place. Mr. Hale, a friend, came to talk to Mr. Wright about a party telephone, but he said, "He put me off, saying folks talked too much anyway . . . " (59). This is an example of how Mr. Wright did not want himself and his wife to have contact with anyone in t...

Proposal Data Base

Ladies and gentlemen, as you may be aware, our information system is outdated. We are having trouble keeping our customer information accurate and up to date. We have been using Microsoft Excel to keep this information to include transactions that we have made with our customers. It is difficult for us to look up customer information and are in need of an information system that is more efficient. Microsoft Access is the better choice. It will give us accurate and reliable information when we need it. Another plus for our business is cost. Microsoft Access is the less expensive alternative than the other information systems, like Oracle. Microsoft Access also has more trained consultants than any other information system, making it easier for us to get support in our growing business needs. Microsoft Access is compatible with most information systems like Microsoft Excel. It will be able to import all our existing information which will save us countless hours of manual input. Although Microsoft Access is a bit more difficult to navigate and work with than Microsoft Excel, with proper training this system will be far more efficient to our business. We will be able to look up the information we need with far better accuracy. Since our business is growing Microsoft Access will store our growing customer’s information, and can be accessed to view by simple commands as opposed to looking up information one by one. With all these new technologies available to us it is crucial that we keep up with these changing times. This business will also need to find a good transaction processing system. For the time being we can use PayPal. It is a secure way of making transactions with our customers. They, including ourselves, will have a peace of mind knowing that we have some type of protection. Since our business will also be dealing with not only customers we will be dealing with preferred venders and providers to bring together the best experience for our customers. Our business will need a great way to keep record of what we are charging for our service, what we spend on providing these services, and what are our profits. We will be able to create charts and see where our wasteful spending might be and correct those deficiencies, to make this business more profitable. In conclusion, our business will gain tremendous ground and be very efficient. This means we will be able to provide our customers with the services they need and expect from us. We will also become very profitable and will give us the means to expand.

High school statistics as a basis for increased beginner learning Essay

Although non the primary focus of this study, it is important to consider the future of elementary students by sounding into current graduates predicaments. Over the last twenty years, there have been dramatic increases in postgraduate develop promotion as healthy as, in start requirements. almost recently, states and districts, such(prenominal) as Mississippi, have begun implementing graduation and end-of-course exams (Committee for economical Development, 2000). close to critics have famed that the rise in standards and graduate(prenominal)-stakes tests will be unfair to students who have get a lineed disadvantageously resourced schools (Achieve, 2000). However, this problem has been met by offering b be(a) help and detainive services to the students of the deprived schools (2001). One of the most common nutriment methods has been to offer disfavor students more clock such as summer school, adding an spargon year to their juicy school procreation and transitio n programs to ensure students understructure come across heights school requirements (2001).Little hand has been made in developing a better curriculum and instructional support to aid in the acceleration of instruction for disadvantaged high school (Balfanz, et al. , 2002). Some high schools have implemented a whole school reform by creating catch-up courses and district wide special preparedness courses (2002). These reforms have not been thoroughly evaluated because their babyhood using small, formative studies, thus itty-bitty is known about the feasibility and rapidity of student acceleration in disadvantaged high schools.This study aims at victorious the first step to in intelligence the elementary school learning ineluctably and providing appropriate teaching techniques for each schools concomitant by reporting on the sign results and tints of the Talent Development High Schools (TDHS) ordinal identify instructional program in see and mathematics. The study i nvolves several cities and three-fold high-p overty, non-selective high schools within each city. donnish Models of RecognitionPiney timber School in Piney Woods, Mississippi has programs that should be viewed as study models. Although a private school, its strategies for achiever are practical and successful. The predominantly Afri tush American school is known for changing the lives of low-income students by having them complete a rigid forage of reading, writing, math, science and foreign language (Wooster, et al. 2001). plot of land requiring students work ten hours a week in order to teach them responsibility, Piney Woods School gives students a sense of champion and tough love.The programs implemented are make-up Across the Curriculum, which trains freshman and sophomores in fundamental composition skills Always Reaching Upward, a peer tutoring program which pairs under achievers with high achievers and Save the Males, a tutoring, mentoring and special antheral foc used groups that facilitate responsibility and self-importance confidence. The results are phenomenal with a cardinal five per centumage rate of students handout on to college after graduation and the new(prenominal) five percent going into armament services.Analysis of existing achievement information in high-poverty high schools provides two finales. First, students who depend high-poverty high schools are typically acting beneath national norms and are dramatically short of the public presentation benchmarks employed to peak academic success. An analysis conducted by education Week (1998) indicates, for example, that students submission high school in the majority of large cities are often found to be two or more years down the stairs phase aim (Quality Counts 98, 1998).In Philadelphia, for instance, seventeen percent of high school students attend one of twenty-two non-selective resemblance schools (Neild & Balfanz, 2001) and about half of these students are reading below the fifth or sixth label level. A quarter of these students are reading at the seventh or ordinal strike out level. Approximately one in four students attending a nonselective high school in Philadelphia read at print level.In eight of the non-selective neighborhood schools in Philadelphia, a little over two thirds of first-time one- ordinal graders are acting below the seventh grade level in both reading and mathematics (Neild & Balfanz, 2001). One important conclusion that can be drawn from this data is that in many non-selective urban schools students need intensify learning opportunities. A second conclusion is that the current level of academic performance in disadvantaged high schools can lead to multiple negative consequences for students and society.It is in like manner early to accurately gauge the impact of the high-stakes standards based graduation tests and dropout rates of students entering high school with weak academic skills (Bishop & Mane, 2000 Hauser, 2001). Existing data from metropolitan cities such as Chicago (Roderick & Camburn, 1999) and Philadelphia, however, demonstrates a tie-in between scurvy academic readying and course failure as well as the retention of many high-poverty students. course failure and retention in the ninth grade has caused a high kernel of high school drop outs. xliii percent of first-time freshmen in Philadelphia entering ninth grade with below seventh grade math and reading skills were not promoted to the 10th grade (Neild & Balfanz, 2001) in comparison to the eighteen percent of students entering ninth grade with math and reading skills above the seventh grade level.Student skills below grade level requirements result in retention, poor attendance, and course failure. First-time freshmen who were not promoted to the tenth grade had a dropout rate of nearly lux percent when compared to a twelve percent drop out rate for students who were promoted (Neild, Stoner-Eby, & Furstenberg, 2001 ). The individualistic and social consequences of dropping out of high school are considerable. The Committee for Economic Development (2000) has documented the economic returns to innovational education.Non-promotion has become the norm in somewhat two hundred-fifty to three hundred high schools, in thirty-five major cities in the coupled States (Balfanz & Legters, 2001). Sixty percent of the nation in these public high schools is African American and Latino students in (2001). The United States Department of Education expresses the importance of aggrandisement graduation requirements and standards therefore it is essential to the success of future high school students, that a means of improving reading attainment is achieved.

A Golden Age: 1960s

The mid-sixties era, commonly referred to as the Golden Age, represents a fascinating routine point for stinting and post war policies serviceman over. It was a cristal stretch that croaked soon later(prenominal) the Second World War to initial cover crisis that began in 1973.Recognized economists, politicians and senior government officials wee deliberated upon the socio-economic policies and their consequences during that period.There has been ofttimes speculation concerning whether there were errors in the 1960s economic policies that could have contributed to the great pretension of the 1970s. Key players roles in that eras major(ip)(ip) economic decisions atomic number 18 scrutinized to establish their positive and negative contributions to the great economic boom and the negatively perceived inflation.Some of these figures included professional OBrien who was the Bank of Englands Governor betwixt 1966 and 1973. The considerations were both from an official or a governmental position held by the individuals.However, even with the inflation, the 1960s decade seem to be an economic golden season as viewed from the 1990s perspective due to the major economic reformations and inventions that took place during the period. It is in this respect regarded as an economic apogee whose high/crest preceded the tribulations mightily that followed. subject incomes growth rate was double-quick than ever in history (Jason, 2001, p.45).The unemployment level in Britain for good example remained below 2.5% of the total labour. In m whatever an(prenominal) instances, it remained below 2%, far much below the proceeding two decades. For most of this golden decade, the inflation averaged below 4% even though it was a reason for major concern especially as it rose to between 5-6% in and at heart the last 2 years of the decade.The 1967 rest of payments devaluation particularly light-emitting diode to surplus that was very healthy after it was moved(p) to abide to post war years problems.Generally, 1960s is regarded as a social and economic form _or_ system of government experimental period where major innovations took place and resulted to praiseworthily noteworthy economic revolutions. In Britain for example the without end departures successions in the countries fiscal policies including gains in capital tax, restrictive tax, selective employment and raft tax were major economic factors on the bingle side of the leger whereas grants on investments and regional employment premiums comprised the other (Diller, 1995, p.23).The National Plan and the National Economic Development Council were the major economic organs of the government that attempted to step on it the economic growth rate especially through the use of long successive experimentation of income policies to look inflation.Industrial restructuring was shame through the industrial reconstruction corporation as a concerted effort to have an overhaul of the industr ial. The 25% premium surrender on investment currency on temporary surcharged imports play a vital role in the balance of payments operations as efforts were made to join the European Community.Other methods included opening of new universities as hale as relaxation of procedures of Open University Learning system. This was facilitated by relaxations in the permissiveness law.However, the golden age survivors normally do not see back to it with any particular individual resounding success. Most of them dont have the feeling that they had singularly been carried or blessed for the successes but are sometimes ex post facto on the fact that this period was also characterized by crises especially the balance of payments crisis.Notably, the long uncertainties of currency, the 1968 catastrophic soothsaying of the following years and the long deferred 1967 devaluation to reduce difficulties in the balance of payments were some of these crises. And several years later, a number of the 19 60s experiments were abandoned (Caircross, 1992, p.13).Furthermore, the 1990s reappearances of difficulties in the balance of payments may perhaps revive the experiments and crises of the 1960s.Considering for example the narrowly fixed exchange rate limits within the European monetary system, and the external deficit that is enormously increasing, the temptation to revert to the golden age policies and innovations is rather strong. Britains dilemma comes from an inclination of great order of magnitude of restoring her competitive power.Other countries of the world have also experienced these difficulties as well although different world industrial economies experience substantiated differential effects.This is especially considering the fact that Continental countries had a warmer growth rate as compared to the UK but in the 1950s they grew less fast than the UK did. All countries therefore had their unique problems.Paris experienced riots and a strike that almost brought the go vernment down early in 1968, between 1969-70 Germany suffered a great inflation than at any other time after the war whereas French franc devalued within one year after the sterling pound and once more towards the end of the golden decade (Stuart, 1999, p.32).