Best Buy Case Study

ESLSCA: GROUP 39D | | | | |Best Buy Co. , Inc. pic] | |Strategic Audit | |August 2012 | | | | | Presented to Dr. Sanya EL Galaly Table of Contents About Best Buy Co. , Inc4 Best Buy’s History4 1. Current Situation5 A. Current Performance5 B. Strategic Posture5 . Mission5 2. Objectives5 3. Strategies5 4. Policies6 II. Strategic Managers6 A. Board Members6 B. Top Management7 III. Market Overview7 IV. External Environment8 2. Natural Environment8 2. Social Environment8 2. 1. Economic8 2. 2. Technological8 2. 3. Political–Legal8 2. 4. Sociocultural8 3. Task Environment9 V. Internal Environment9 1. Corporate Structure9 2. Corporate Culture9 3. Corporate Resources9 3. 1. Marketing9 3. 2. Finance9 3. 3. R&D10 3. 4. Operations10 3. 5. Human Resources10 3. 6. Information Systems10 VI. Analysis of Strategic Factors10 . Situational Analysis (SWOT) (SFAS Matrix; see Exhibit 3)11 1. 1. Situational Analysis11 1. 1. 1. Summary of Internal Factors11 1. 1. 2. Summary of External Fact ors11 1. 1. 3. Review of Mission and Objectives11 VII. Strategic Alternatives and Recommended Strategy12 1. Corporate Strategy12 2. 1. Growth Strategy12 2. 2. Stability Strategy13 2. 3. Retrenchment Strategy13 3. Business Strategy13 3. 1. Cost Leadership Strategy13 3. 2. Differentiation Strategy14 4. Financial Positions14 4. 1. Best Buy Income Statement as of 2009-201214 4. 2.Best Buy Balance Sheet as of 2009-201211 4. 3. Cash Flow Statement for period ended in 2011-201212 B. Recommended Strategy14 VIII. Implementation14 IX. Evaluation and Control14 X. List of Tables15 Exhibit #1 Ratio Analysis Table15 Exhibit #2 IFAS16 Exhibit #3: EFAS17 Exhibit #4: SFAS18 Exhibit #5: TWOS Matrix19 Exhibit #6 IFinancial Position Documents20 About Best Buy Co. , Inc. Best Buy Co. , Inc. (NYSE:BBY) Headquartered IN Richfield, Minnesota, is a leading multi-channel global retailer and developer of technology products and services. 1,100 stores in U.S (21% Market Share), also operated over 2,800 stores global (Canada, Mexico, China and Turkey), 170,000 employees whom are committed to helping deliver the technology solutions that enable easy access to people, knowledge, ideas and fun. The company’s subsidiaries such Geek Squad, Magnolia Audio Video, and Pacific Sales, and operated under both name Best Buy & Future Shop labels In CANADA People at BB are aware of their role and impact on the world, and are committed to developing and implementing business strategies that bring sustainable technology solutions to consumers and communities.For information about Best Buy, visit www. bby. com and to shop at Best Buy, visit www. bestbuy. com. Best Buy’s History: In 1966 Best Buy incorporated with original name as Sound of music, the company started as a retailer of audio components and expanded to retailing video products in the early 1980s with the introduction of the videocassette recorder to its product line. In 1983 Best Buy name has been changed to Best Buy Co. Inc. (Be st Buy). Shortly thereafter, Best Buy began operating its existing stores under a â€Å"superstore† concept by expanding product offerings and using mass marketing techniques to promote those products.Since 1989 the company altered the function of sales staff structure (policy) dramatically to be transformed from commission basis oriented to be educators and customer assist oriented. Simply sales mission was to generate sales but now changed to answer customer’s question to help for decide which product fit for their needs. In 2000 the company step up to Market space by launched: BestBuy. com (online retail store), which is very important for BB’s customers thus expanding among them to access to store easily without physical visit. I.Current Situation: A. Current performance Volatility of financial position, declining in company’s income compared with last fiscal year, increasing debts as well as operating costs ? Facing increased fears competition ? Rais ing in operational costs and increasing in debt & reducing liquidity of cash. ? Adverse economic climate and financial stress (declining in net income) B. Strategic Posture Mission ? To make technology deliver on its promises to customer ? Keeping customers centered in technological changes â€Å"To make life fun and easy†. To improve customer’s awareness of their needs. Objective ? The top objective of company were sustained growth and earnings (growth oriented) ? Differentiation in retail industry by present unique product & service that customer never get before. ? Keeping cost down without sacrificing customer experience given by Best Buy. Strategies ? Developed in 1966 as (a low price strategy) and moved to be service-oriented firm (differentiation strategy) in 1989. ? Global & national growth through acquisition and alliance with Car phone Warehouse Group, UK. Use its economies scale with over 1,000 locations to obtain cost advantage from suppliers due to high qu antity of orders, also increase its Advertising budget for massive campaigns In order to cove over entry market barriers. ? Having multiple brands for different customer lifestyles through M&A merge and Acquisition. ? Providing customers with highly trained sales associates who available to educate customers regarding product features. ? Construct a diversified portfolio of product offerings by building a significant customer data-base (Customer centricity model) Policies Growth oriented by expansion vertically & horizontally. ? Cost reduction is very important (restructure commission sales scheme, shipping the correct inventory to the correct locations). ? Training & educate employees regularly, promotion from within at all levels. ? Rapidly response to external change. II. Strategic Mangers A. Board Of Directors ? Sixteen members –three are outsider. ? Chairman and founder (Richard M. Schulze), his beneficial ownership of 17. 1 % ? Brian Dunn as Previous CEO, Currently (Mik e Mikan) as Interim CEO of Best Buy, who has been Director since 2008. All directors and executive officers as a group, and each person we know who beneficially owns more than 5% of the outstanding shares of Best Buy common stock. [pic] [pic] [pic] [pic] [pic] Richard Shultze Mike Mikan Shari Ballard Jim Muehlbauer Carol Surface Founder, Chairman Interim CEO President International CFO VP, Chief HR & Enterprise EVP B. Top Management The two former CEO’s was Richar Shultze and Brad Anderson, but recently Brad stepping down, Brian Dunn replaced, and now replaced with Interim CEO. ? June 7, 2012  Ã¢â‚¬â€ The board of directors of Best Buy Co. , Inc. (NYSE:BBY) today announced the appointment of Hatim A. Tyabji as chairman of the Company, effective immediately. Mr. Tyabji, currently Chairman of the Audit Committee, has served as a director since 1998. ? Top managers are recently promoted internally and externally hired ? Top Mangers whom : Richard Shultze: Founder & Chairman. G. Mike Mikan : Interim CEOShari Ballard : President, International and Enterprise EVP. Jim Muehlbauer: Executive VP. And CFO. ? Top management members are very experienced in Industry III. Market Overview The Best Buy family of brands and partnerships collectively generates more than $49 billion in annual revenue and includes brands such as †¢ Best Buy; †¢ Best Buy Mobile; †¢ Audio visions; †¢ The Carphone Warehouse; †¢ Future Shop; †¢ Geek Squad; †¢ Jiangsu Five Star; †¢ Magnolia Audio Video; †¢ Napster; †¢ Pacific Sales; and The Phone House. Community partnership is central to the way Best Buy does business.In fiscal 2010, the company donated a combined $25. 2 million to improve the vitality of the communities where best Buy employees and customers live and work. Strategic priorities focus on growth opportunities, operations, and improved international returns. IV. External Environment (EFAS TABLE; see Exhibit 1) Natural Environme nt 1. Global warming that increasing by emissions of technology usage. (T) 2. Energy availability a growing problem. (T) Societal Environment 1. Economic a. Unstable economy (stumble) along with eliminate of consumer expends. (T) b.Individual economies becoming interconnected into a world economy. (O) c. Financial crisis that hit EU, might be essential reason to eliminate the Investment in Euro zone. (T) 2. Technological a. IT & communication revolution. (O) b. Entering computerization at all fields such â€Å"Manufacturing, business, Agriculture,†¦etc. † (O) c. Trend of social media online & digital marketing. (O) 3. Political-Legal a. NAFTA, EFTA, and other agreements between countries to free trading cycle are opening doors to penetrate markets in Latin America and other emerging markets. (O) b.Regulations of Federal Reserve Bank that effect on retail sector's credit systems. (T) c. Environmentalism being reflected in Laws on pollution and energy usage. (T) 4. Socio C ultural a. Decreasing of unemployment rate which is indicator of increasing of families income then Expands rate. (O) b. Transforming in purchasing behavior from market place to market space. (T) c. Trend of using digital devises rather than paper & blocks for daily functions such â€Å"news, reading books, schedule organizer,†¦etc†. (O) d. Trend to value for money as a concept of consumers behavior. (T) Task Environment 1.North American market mature and extremely competitive—vigilant consumers demand high quality with low price in safe, environmentally sound products. (T) 2. Industry going global as North American and European firms expands internationally. (T) 3. Rivalry High. GameStop Corp, Amazon. com, Wal-Mart expanding into consumer electronics and stepping price competition†¦ (T) 4. Buyers’ Power Law. Technology and materials can be sourced worldwide. (O) 5. Power of Other Stakeholders Medium. Quality, safety, environmental regulations increasi ng. (T) 6. Entry Barriers High. New entrants unlikely except for large international firms. T) V. Internal Environment (IFAS Table; See Exhibit 2) (IFAS Table; See Exhibit 2) A. Corporate Structure 1. Good Domestic Management through separating the Market into Eight territories each is Divided into Districts (S) 2. Best Buy had an international operation Segment (S) B. Corporate Culture 1. Every employee must have the company’s vision embedded in their service and attitude (S) 2. Best Buy had a reputation for retaining talent and was widely recognized for its superior service (S) C. Corporate Resources 1. Marketing a. Using Customer Centricity Model to market various products (S) b.Supply products that address the needs of Customer (S) c. Meet Customer Needs through End to end Solutions (S) d. More training to BestBuy Employees help it supply customer with Knowledge service which is A Value added Service (S) 2. Finance (See Exhibits 4 and 5 â€Å"Ratios & cash flows† ) a. Increase in Long Term Debt from fiscal 2008 to 2009 (W) b. After the Acquisition of Napster and BestBuy Europe Decrease in Available Cash in 2009 (W) c. Increase in Company Total Assets and Revenues due to Successful Acquisitions (S) d.Declining in the Net Income and operating Margin (W) e. The Risk of Having Bad Debts Due to increase in inventory and increase of Revenues However it’s not matching the Big increase in Account receivable (W) 3. R a. Best Buy is Willing to participate in tests of New products (with limited cost to company) (W) 4. Operations a. Increasing Revenues By growing its Customer Base and Increasing its market share Internationally (S) b. Good Domestic Management through separating the Market into Eight territories each is Divided into Districts (S) c.Best Buy had an international operation Segment (S) 5. Human Resources a. Main Objective is supplying the customer with the right knowledge of products and services (S) b. Changing the compensation struc ture into non-commissioned-based (S) c. Claims that Best Buy employees misrepresented the Manufacture warranty in order to sell its own product service and replacement plan (W) d. Best Buy had undisclosed â€Å"Anti-price matching policy† (W) 6. Information Systems a. Consolidate Data from Retialers , Act as a clearing house for info and results.Communicate the common needs and encourage innovation (S) VI. Analysis of Strategic Factors Situational Analysis (SWOT) (SFAS Matrix; see Exhibit 3) 1. Strengths. †¢ Company Image and Profile †¢ Sales Stuff Policy †¢ Strong financial Position †¢ Customer Centricity Model †¢ Diversified portfolio in Global Markets †¢ Good Horizontal Integration †¢ Talent management †¢ Good Domestic management †¢ Successful Acquisitions †¢ Credit payment policy †¢ Value Added Services 2. Weaknesses †¢ Market Space Sales †¢ Pricing Policy †¢ Assets Management †¢ Operational Cost à ¢â‚¬ ¢ Increase in LTD and Debt Management Fluctuating Leadership 3. Opportunities †¢ Potential market of Medical Portable Devices †¢ Gaming Segment growth and Smart Phones †¢ Technology Revolution †¢ Bankruptcy of Circuit City †¢ Expansion of Global Market place 4. Threats †¢ Regulations of Federal Reserve Bank †¢ Economic Down turn †¢ Decreasing the entry barrier †¢ Online Competitor †¢ Price War with Wal-Mart †¢ Wal-Mart Deal with Nintendo and Apple †¢ Strong penetration Of Competitor Review of Current Mission and Objectives 1. Bad financial position according to last 2 years. 2. Facing a fierce competition and new challenge expected. VI.Strategic Alternatives and Recommended Strategy: Strategic Alternatives. Corporate Strategy 1. Growth Strategy †¢ Growth vertically through open new stores across U. S to fill gap in fierce competition. Pros: come over competitors expansion’s strategy Cons: Cash Liquidity Iss ues. †¢ Continuing of global expansions, and focus on emerged & untapped markets. Pros: supporting of Best Buy’s overseas position to be Leader in this Marekts. Cons: domestic regulations in foreign countries and security. †¢ Horizontal integration by joint venture with new suppliers. Pros: more control on operational costCons: Management issue, and conflictions. 2. Stability Strategy †¢ Hold acquisitions in Euro zone according to economic crisis, and in Canada as well. Pros: saving more capital & cost to be invested in North America and other virgin markets. Cons: allow to competitors to raising their market share in such left market. 3. Retrenchment Strategy †¢ Develop downsizing policy in costly labor markets such (Europe). Pros: Divesting BBY improves bottom line and focus ME & Asia Markets. Cons: loosing Europe’s market share. †¢ Decreasing some of discretionary expenses in such (Advertising ) in one or two of states that saturated.Pros: s aving a lot of regular cost to be invested in domestic expansion. Cons: risk of loose customer’s positioning by time. Business Strategy 1. Differentiation Strategy †¢ Develop trade-off strategy that allow Best Buy’s customers to replace their own devices by new technology devices in justified prices. Pros: another source of money that generate liquidity for company Cons: adding operational cost line 2. Alliance strategy Build a solid strategic Alliance with a reliable brand in market space that has urgently need to access to retail market. (Win/Win) Pros: Access to know-how of online market.Cons: reveal of operations and management techniques. RECOMMENDED STRATGIES 1. Growth Strategy †¢ Growth vertically through open new stores across U. S to fill gap in fierce competition. Pros: come over competitors expansion’s strategy Cons: Cash Liquidity Issues. †¢ Continuing of global expansions, and focus on emerged & untapped markets. Pros: supporting of B est Buy’s overseas position to be Leader in this Marekts. Cons: domestic regulations in foreign countries and security. †¢ Horizontal integration by joint venture with new suppliers. Pros: more control on operational cost Cons: Management issue, and conflictions. . Differentiation Strategy †¢ Develop trade-off strategy that allow Best Buy’s customers to replace their own devices by new technology devices in justified prices. Pros: another source of money that generate liquidity for company Cons: adding operational cost line. VII. Implementation: †¢ As the recommended strategies is growth strategy so business development dept. should select strategic locations across U. S that include high traffic . †¢ The operations and mainly the supply chain department must do their best for getting best prices and cutting operations cost. Maintain the current global expansion plan and build solid studies for emerging markets and developing countries customer†™s culture there. †¢ Developing more powerful CRM application and POS systems to recognize customers data. XI. Evaluation and Control: †¢ involving the top managers, key persons and employees in operations efficiency programs †¢ Monitoring the performance regularly especially after new application applied. †¢ Follow up the plan of domestic operations that related to supplier. Exhibit 1 E F A S Exhibit 2 I F A S Exhibit 3 S F A S Exhibit 4 | |BEST BUY CO. , INC. | |CONDENSED CONSOLIDATED BALANCE SHEET | |($ in millions, except per share amounts) | | | | | | | | | | | |  |February  28, |  |  | | | |2009 | | | |  | Assets |  |   |   |  |  | |Current Assets |  |   |   |  |  | |   |C|   |$|4| | |a| | |9| | |s| | |8| | |h| | | | | |a| | | | | |n| | | | | |d| | | | | |c| | | | | |a| | | | | |s| | | | | |h| | | | | |e| | | | | |q| | | | | |u| | | | | |i| | | | | |v| | | | | |a| | | | | |l| | | | | |e| | | | | n| | | | | |t| | | | | |s| | | | |   |  |To|   |  |8| | | |ta| | |,| | | |l | | |1| | | |cu| | |9| | | |rr| | |2| | | |en| | | | | | |t | | | | | | |as| | | | | | |se| | | | | | |ts| | | | |   |L|   |  |7| | |a| | |5| | |n| | |5| | |d| | | | | |a| | | | | |n| | | | | |d| | | | | |b| | | | | |u| | | | | |i| | | | | |l| | | | | |d| | | | | i| | | | | |n| | | | | |g| | | | | |s| | | | | |  |   |6,940 |  |  | |   |L|   |  |2| | |e| | |,| | |s| | |7| | |s| | |6| | |a| | |6| | |c| | | | | |c| | | | | |u| | | | | |m| | | | | |u| | | | | |l| | | | | |a| | | | | |t| | | | | |e| | | | | |d| | | | | |d| | | | | |e| | | | | |p| | | | | |r| | | | | e| | | | | |c| | | | | |i| | | | | |a| | | | | |t| | | | | |i| | | | | |o| | | | | |n| | | | |   |  |Ne|   |  |4| | | |t | | |,| | | |pr| | |1| | | |op| | |7| | | |er| | |4| | | |ty| | | | | | |an| | | | | | |d | | | | | | |eq| | | | | | |ui| | | | | | |pm| | | | | | |en| | | | | | |t | | | | |Tradenames |  |   |173 |  |  | |Customer Relationships |  |   |322 |  |  | |Equity and Other Investments |  |   |395 |  |  | |Other Assets   |   |367 |  |  | |   |  |   |  |  | |Total Assets |  |$ |15,826 |  |  | |   |  |   |  |  | |Liabilities and Shareholders' Equity |  |   |   |  |  | |Current Liabilities |  |   |   |  |  | |   |A|   |$|4| | |c| | |,| | |c| | |9| | |o| | |9| | |u| | |7| | |n| | | | | |t| | | | | |s| | | | | |p| | | | | |a| | | | | |y| | | | | |a| | | | | |b| | | | | |l| | | | | |e| | | | |   |  |To|   |  |8| | | |ta| | |,| | | |l | | |4| | | |cu| |3| | | |rr| | |5| | | |en| | | | | | |t | | | | | | |li| | | | | | |ab| | | | | | |il| | | | | | |it| | | | | | |ie| | | | | | |s | | | | |Long-Term Debt |  |   |1,126 |  |  | |Minority Interests |  |   |513 |  |  | |Shareholders' Equity |  |   |   |  |  | |   |P |   |  |—| | |r| | | | | |e| | | | | |f| | | | | |e| | | | | |r| | | | | |r| | | | | |e| | | | | |d| | | | | |s| | | | | |t| | | | | |o| | | | | |c| | | | | |k| | | | | |,| | | | | |$| | | | | |1| | | | | |. | | | | |0| | | | | |0| | | | | |p| | | | | |a| | | | | |r| | | | | |v| | | | | |a| | | | | |l| | | | | |u| | | | | |e| | | | | |:| | | | | |A| | | | | |u| | | | | |t| | | | | |h| | | | | |o| | | | | |r| | | | | |i| | | | | |z| | | | |e| | | | | |d| | | | | |  | | | | | |—| | | | | |4| | | | | |0| | | | | |0| | | | | |,| | | | | |0| | | | | |0| | | | | |0| | | | | |s| | | | | |h| | | | | |a| | | | | |r| | | | | |e| | | | | |s| | | | | |;| | | | | |I| | | | | |s| | | | | |s| | | | | |u| | | | | |e| | | | | |d| | | | | a| | | | | |n| | | | | |d| | | | | |o| | | | | |u| | | | | |t| | | | | |s| | | | | |t| | | | | |a| | | | | |n| | | | | |d| | | | | |i| | | | | |n| | | | | |g| | | | | |  | | | | | |—| | | | | |n| | | | | |o| | | | | |n| | | | | |e| | | | |   |  |Total shareholders' |  |  | | | |equity | | | |Total Liabilities and Shareholders' Equity |  |$ |15,826 |  |  | |   |  |   |  |  | BEST BUY CO. ,  INC. CONDENSED CONSOLIDATED BALANCE SHEETS ($  in millions) (Unaudited and subject to reclassification)    | |CONDENSED CONSOLIDATED BALANCE SHEETS | |($ in millions) | |(Unaudited and subject to reclassification) | | | | | | | | | | |Mar. 3, 2012 | |Feb. 6, 2011 | |ASSETS | | | | |Current assets | | | | |Cash and cash equivalents |  $            1,199 | |  $            1,103 | |Short-term investments |                           -| |                          22 | | |   | | | |Receivables |                 2,359 | |                 2,348 | |Merchandise inventories |                 5,731 | |                 5,897 | |Other current assets |                  1,079 | |                 1,103 | |Total current assets |              10,368 | |              10,473 | |Net property & equipment |                 3,471 | |                 3,823 | |Goodwill |                 1,335 | |                 2,454 | |Tradenames |                       130 | |                       133 | |Customer relationships | 29 | |                       203 | |Equity and other investments |                       140 | |                       328 | |Other assets |                       403 | |                       435 | |TOTAL ASSETS |  $         16,076 | |  $         17,849 | | | | | | |LIABILITIES & EQUITY | | | | |Current liabilities | | | | |Accounts payable |  $            5,435 | |  $            4,894 | |Accr ued liabilities |                 2,968 | |                 2,771 | |Short-term debt |                       480 | |                       557 | |Current portion of long-term debt |                          43| |                       441 | |Total current liabilities |                 8,926 | |                 8,663 | |Long-term liabilities |                 1,099 | |                 1,183 | |Long-term debt |                 1,685 | |                       711 | |Equity |                 4,366 | |                 7,292 | |TOTAL LIABILITIES & EQUITY |  $         16,076 | |  $         17,849 | | | |BEST BUY CO. , INC. | |CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS | |($ in millions, except per share amounts) | |   |  | | | | | |Feb. 8, | | | | | |2009 | | |Revenue | | |$ |4 5,015 | | |Cost of goods sold | | |34,017 | | |Gross profit | | |10,998 | | |Gross profit % | | |24. 4% | | |Selling, general and administrative expenses | | |8,984 | | |SG % | | |20. 0% | | |Restructuring charges | | |78 | | |Goodwill and tradename impairment | | |66 | | |Operating income | | |1,870 | | |Operating income % | | |4. % | | |Other income (expense) | | | | | |Investment income and other | | |35 | | |Investment impairment | | |(111 |)| |Interest expense | |)|(94 |)| |Earnings before income tax expense and minority interests | | |1,700 | | |Income tax expense | | |674 | | |Effective tax rate | | |39. % | | |Minority interests | | |(30 |)| |Equity in earnings (loss) of affiliates | | |7 | | |Net earnings | | |$ |1,003 | | | | | | | | | | | | | | |Earnings per share | | | | | |Basic | | |$ |2. 43 | | |Diluted(1) | | |$ |2. 39 | | | | | | | | |Dividends declared per common share | | |$ |0. 4 | | | | | | | | |Weighted average common shares outstanding (in millions) | | | | | |   | | | | | |Basic | | |412. 5 | | |Diluted(1) | | |422. 9 | | |BEST BUY CO. , INC. | |CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS | |($ in millions, except per share amounts) | | | | | | | |Feb. 7, | | | | |2010 | |Revenue | | |$ |49,694 | | |Cost of goods sold: | | | | |Cost of goods sold | | |37,534 | | |Restructuring charges – cost of goods sold | | |— | | |Total cost of goods sold | | |37,534 | | |Gross profit | | |12,160 | | |Gross profit % | | | 24. 5 |% | |Selling, general and administrative expenses | | |9,873 | | |SG&A % | | |19. 9 |% | |Restructuring charges | | |52 | | |Operating income | | |2,235 | | |Operating income % | | |4. |% | |Other income (expense) | | | | |Investment income and other | | |54 | | |Interest expense | | |(94 |) | |Earnings before income taxes and equity in earnings of affiliates | | |2,195 | | |Income tax expense | | |802 | | |Effective tax rate | | |36. 5 |% | |Equity in earnings of affiliates | | |1 | | |Net earnings including noncontrolling interests | | |1,394 | | |Net earnings attributable to noncontrolling interests | | |(77 |) | |Net earnings attributable to Best Buy Co. , Inc. | |$ |1,317 | | | | | | | | | | | | |Earnings per share attributable to Best Buy Co. , Inc. | | | | |Basic | | |$ |3. 16 | | |Diluted(1) | | |$ |3. 10 | | | | | | | |BEST BUY CO. , INC. | |CONSOLIDATED STATEMENTS OF EARNINGS |($ in millions, except per share amounts) | |(Unaudited and subject to reclassification) | | | | | | | | | | | | |Twelve Months Ended | | | | |Mar. 3, | |Feb. 26, | | | | |2012 | |2011 | | |Revenue | |  $ 50,705 | |$49,747 | | |Cost of goods sold | |38,113 | |37,197 | | |Restructuring charges – cost of goods sold | |                 19 | |                 9 | | |Gross profit (24. 8%, 25. 25. %) | |     12,573 | |  12,541 | | |Selling, G&A expenses | |  Ã‚  10,242 | |10,029 | | |Goodwill impairment | |1,207 | |  Ã¢â‚¬â€ | | |Restruc turing charges | |                 39 | |           138 | | |Operating income | |        1,085 | |      2,374 | | |Other income (expense): | | | | | | |Gain on sale of investments | |                 55 | |  Ã¢â‚¬â€ | | |Investment income and other | |                 37 | |              43 | | |Interest expense | |         (134) | |           (86) | | |Earnings from continuing operations before income tax    | |        1,043 | |      2,331 | | |expense and equity in (loss) earnings of affiliates | | | | | | |Income tax expense | |            709 | |           779 | | |Effective tax rate | |68. 0% | |33. 4% | | |Equity in (loss) earnings of affiliates | |               (4) |                 2 | | |Net (loss) earnings from continuing operations | |            330 | |      1,554 | | |Loss from discontinued operations, net of tax | |         (308) | |        (188) | | |Net (loss) earnings including noncontrolling interest | |               22 | |      1,366 | | |Net earnings from continuing operations attributable to | |     (1,387) | |        (127) | | |noncontrolling interests | | | | | | |Net loss from discontinued operations attributable to | |            134 | |              38 | | |noncontrolling interests | | | | | | |Net (loss) earnings attributable to Best Buy Co. , Inc. | |  $(1,231) | |  $ 1,277 | | | | | | | | | | | | | | |Continuing operations | |  $   (2. 89) | |  $    3. 51 | | |Discontinued operations | |  $   (0. 47) | |  $ (0. 37) | | |Basic (loss) earnings per share | |  $   (3. 36) | |  $    3. 4 | | | | | | | | | | | | | | |Continuing operations | |  $   (2. 89) | |  $    3. 44 | | |Discontinued operations | |  $   (0. 47) | |  $ (0. 36) | | |Diluted (loss) earnings per share | |  $   (3. 36) | |  $    3. 08 | | | | | | | | | |Dividends declared per Best Buy Co. , Inc. common share | |  $       0. 2 | |  $    0. 58 | | | | | | | | | | | | | | | | | | | |Basic | |        366. 3 | |      406. 1 | | |Diluted | |        366. 3 | |      416. 5 | | |F|   | |e| | |b| | |r| | |u| | |Febru |   | |BEST BUY CO. INC | |CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |($ in millions) | |(Unaudited and subject to reclassification) | | | | | | | | | |Twelve Months Ended | | | |Mar. 3,   | |Feb. 6,   | | | |2012 | |2011 | |OPERATING ACTIVITIES | | | | | |Net earnings including noncontrolling interests | |  $                  22 | |  $             1,366 | |Adjustments to reconcile net earnings to total cash provided by| | | | | |operating activities: | | | | | |Depreciation and amortization of definite-lived intangible | | 45 | |                     978 | |assets    | | | | | |Goodwill impairment | |               1,207 | |  Ã¢â‚¬â€ | |Realized gain on sale of investments | |                    (55) | |  Ã¢â‚¬â€ | |Other, net    | |                    462 | |                     209 | |Changes in operating assets and liabilities, net of acquired | | | | | |assets and liabilities: | | | | | |Receivables | |                    (28) | |                    (371) | |Merchandise inventories | |                    120 | |                    (400) | |Accounts payable | |                    643 | |                    (443) | |Other assets and liabilities    | |                    (23) | |                    (149) | |Total cash provided by operating activities | |               3,293 | |                  1,190 | | | | | | | |INVESTING ACTIVITIES | | | | | |Additions to property and equipment | |                  (766) | |                    (744) | |Other, net    | |                     42 | |                     175 | |Total cash used in investing activities | |                  (724) | |                    (569) | | | | | | |FINANCING ACTIVITIES | | | | | |Repurchase of common stock | |              (1,500) | |                 (1,193) | |Borrowings (repayments) of debt, net    | |  

Criminalistics Week 11 Ind Homework Essay

This method is helpful because the searcher is moving from an area light with evidence to an area where more evidence is most likely to be found. Because the searcher may not be able to complete a perfect spiral evidence could be missed. Wheel/ray search-employs several people moving from the boundary straight toward the center of the scene or from the center straight to the boundary. This is not preferred because areas between the rays are not searched. Quadrant/zone search-involves dividing the scene into zones or quadrants and team members are assigned to each section. This method is best suited for scenes that cover a large area. 2. What is the difference between a primary and a secondary scene? A primary scene is one at which the original incident occurred. The secondary scene is a location that became part of the crime scene by activities after the initial incident, such as using a car to transport a body. 3. List three methods for crime scene recording. Notes, photography, and sketches. Notes-the notes should start by identifying the person who contacted the investigator, the time of the contact, and all preliminary information enclosed, including the case number. Photography-crime scene photographs can show the layout of the scene, the position of evidence to be collected, and the relation of objects at the scene to one another. Photography is also important for documenting biological evidence in its original condition because this kind of evidence is altered during testing. Sketching-a sketch shows the layout of an indoor or outdoor crime scene and the relationship in space of all the items and features significant to the investigation. It is important to illustrate the location of collected evidence. Sketching clarifies objects and features already described in notes or shown in photographs. 4. What are aperture and f-number? How does the aperture relate to the f-number and how does this affect the amount of light to which the film exposed? The aperture is the size of the diaphragm opening through which light enters the camera. The f-number is the diameter of the lens opening for light to pass through the camera. One adjusts the aperture by setting the f-number, which is equal to the focal length divided by the aperture. Thus, the aperture and the f-number are inversely related. The lower the f-number setting, the wider the aperture and the more light it allows in. 5. What is the depth of field? How does a camera’s the f-number relate to a depth of field of the photographs it produces? The depth of field is the range of in the foreground and background of a photographic subject that are also relatively in focus. Landscape mode on a digital camera automatically selects higher f-stops to improve the depth of field when the background and foreground are important. The portrait mode selects lower f-stops to decrease the depth of field and make the subject stand out clearly against a blurred background. 6. What should medium-range photographs taken at the crime scene show? What should appear in every medium-range photographs and why? Medium-range photographs should show the layout of smaller significant areas of the crime scene. The items that should appear in every medium-range photograph are evidence markers and they are to show the spatial relationship between and among pieces of evidence in greater detail than the overview photographs.

Green Chemistry Essay

Chemo-enzymatic synthesis of optically pure rivastigmine intermediate using alcohol dehydrogenase from baker’s yeast. Authors: Madhuresh K. Sethi? , Somashekar R. Bhandya? , Anish Kumar, Nagaraj Maddur, Rohit Shukla,V. S. N. Jayalakshmi Mittapalli Published: Journal of Molecular Catalysis B: Enzymatic 91 (2013) 87– 92 Paper 2 : Asymmetric synthesis of an enantiomerically pure rivastigmine intermediate using ketoreductase Authors : Madhuresh K. Sethi, Somashekar R. Bhandya, Nagaraj Maddur,  Rohit  Shukla, Anish Kumar, V. S. N. Jayalakshmi Mittapalli Published: Tetrahedron: Asymmetry,  Volume 24, Issue 7,  15 April 2013,  Pages 374-379 ON JOB EXPERIENCE IN REGULATORY AFFAIRS Organization: Intertech Labs, Hyderabad Guide: T. Raja Rao * Successfully completed course in Drug Regulatory Affairs (September 2010 – October 2011) * Gained experience of compiling , reviewing & filing of Technical Dossiers (DMF, EDMF, ANDA) * Performed Post Regulatory Audits as a part of training program * ICH Guidelines Marketing authorization in Europe(Mutual recognition procedure, Centralized procedure &Decentralized procedure) EDUCATIONAL QUALIFICATIONS| Year| Course| Institute| University/Board| Aggregate| 2008-10| M. Pharmacy| University Institute of Pharmaceutical Sciences| Panjab University| 67%| 2004-08| B. Pharmacy| University Institute of Pharmaceutical Sciences| Panjab University| 64%| 2002| 10+2| City Montessori School, Lucknow| ISC| 75%| 2000| 10th standard| City Montessori School, Lucknow| ICSE| 82 %| ACADEMIC ACHIEVEMENTS * Ranked 2nd in M. Pharmacy in Pharma Chemistry Section * Scored 93. 99 percentile in GATE , 2008 * Placement cell representative , UIPS (2008- 2010) * Delegate in CHASCON 2009, IPC 2008 EXTRA CURRICULAR ACHIEVEMENTS * Winner Intra Department Football Match – 2007 * 1st Runners up , Intra Department Cricket Match – 2005 * 2nd Prize , Intra Department Chess Competition – 2005 COMPUTER PROFICIENCY * Operating System: Microsoft XP, Vista & Windows 7. Application software: MS Office, MS excel MS access & PowerPoint. * Proficiency in handling various computing software and packages including effective usage of Pub Med, Medline, Sci Finder and other research search engines. STRENGTHS * Strong Academic Orientation * Organized, Systematic & Always looking for Perfection in my work HOBBIES * Surfing the net as a means for exchanging thoughts and views and with the aim of networking. * Watching movies & playing chess REFERENCES * On request

Analysis essay Example | Topics and Well Written Essays - 500 words - 5

Analysis - Essay Example It is not until the ad shows the picture of Schaeffers New Zealand Style Deck Sealant that the audience happens to understand what the ad is all about. The ad promotes Schaeffers New Zealand Style Deck Sealant drawing upon its capability to protect a deck from the effects of weather and other environmental factors like rain, moisture, and humidity. The sealant prolongs the life of the deck and protects its color, texture, and strength. Sexuality and eroticism is the underlying theme of the ad. The actor says that he wouldn’t let children get on his d*ck because it was unsafe for them until he applied the sealant on it. He says that even his neighbor knows about his d*ck’s strength after it has been protected with sealant and the neighbor gardening down reaffirms his claim. This ad draws upon men’s obsession with their sexual power that is manifested in the health of their private part. The actor says all about his d*ck that any man would want about his private part in terms of color, quality, and strength regardless of age. With a devilish smile on his face, the actor says, â€Å"After all, summer time’s all about spending time on your d*ck†; it couldn’t be funnier! The reason why makers of the ad put sexuality and eroticism as the underlying theme of the ad is to make the ad memorable for the target audience i.e. men. They know that men are their prime target consumers because construction works are generally executed by men. So they wanted to make an ad that would capture the attention of men and not just that, possibly be the ad that men like to discuss in their gossip in each other’s company. The fact that the actor asks his male neighbor to reaffirm the quality of his d*ck suggests that the ad appeals to men regardless of their sexual orientation. This homosexual element of the ad adds cherry atop the cake. To conclude, the subtle message promoted by the ad of Schaeffers New Zealand Style Deck Sealant is that men

Architect And Engineer Term Paper Example | Topics and Well Written Essays - 1000 words

Architect And Engineer - Term Paper Example Leonardo da Vinci bore the official title of Ingegnere Generale. His notebooks reveal that some Renaissance engineers began to ask systematically what works and why. (â€Å"History of engineering†). An architect is an individual who designs a structure whereas an engineer is an individual who designs as well as constructs a structure. Although both the architect and engineer design a structure, yet their designs are entirely different for the same structure. While designing a structure, an architect takes into consideration such factors as space utilization, geometry, integration, matching and contrast and orientation of the structure whereas an engineer takes care of the composition of elements, selection of materials of construction, choice of the steel ratio and the water/cement (w/c) ratio, and the strength of materials. In addition to that, the engineer also constructs the structure. Construction involves planning, scheduling, executing and supervising the project. An arc hitect and an engineer differ in their job responsibilities. An architect is responsible to decide the look of the structure whereas an engineer actually brings that look from the architect’s imagination to the ground in the form of the structure. Thus, architects are basically designers and engineers are basically constructors, though they also design the structure. â€Å""Engineering is the application of mathematics and science to create something of value from natural resources."† (Abrol). In order to be an architect, one needs to graduate in architecture whereas to be an engineer, a Bachelor’s degree of engineering is required. Both are licensed and registered by their respective councils. An architect may specialize in such fields as space management, vertical construction or horizontal construction whereas an engineer specializes in the fields of management, structures, geology and transportation etc. Sir Marc Isambard Brunel was a famous French engineer. Brunel was born on 25 April 1769 and lived up to 12 December 1849 (â€Å"Marc Brunel†). Brunel was born in France and later settled in UK. Brunel became the chief engineer of NY in 1793. He is particularly known for devising the technique of manufacturing the rigging blocks for navy. The Thames foot tunnel is one of Brunel’s biggest achievements. It was originally constructed for the horsedrawn traffic, though pedestrians used it first because of bankruptcy. Currently, it carries the â€Å"East London Line of the London Underground† (â€Å"Marc Brunel†). Brunel used the tunneling shield for making this tunnel. This shield was a mobile framework meant to protect the laborers from the collapses while they worked on the water-bearing ground. Engineer Marc Brunel (â€Å"Marc Brunel†). A very famous railway engineer in UK in the Victorian age was Sir Thomas Bouch. Bouch was born on 25 February 1822 and lived up to 30 October 1880. Bouch has invented â €Å"the caisson and the train ferry (roll-on roll-off)† (â€Å"Thomas Bouch†). Bouch was the designer of the first Tay Rail Bridge. To appreciate his endeavors, Queen Victoria traveled over the Tay Rail Bridge upon its official opening. She also awarded Bouch a knighthood. Engineer Thomas Bouch (â€Å"Thomas Bouch†). In order to reduce the cost, the railway company had compromised upon the safety and

Chicago a place to see Speech or Presentation Example | Topics and Well Written Essays - 750 words

Chicago a place to see - Speech or Presentation Example Magic Chicago where magicians gather to revive the hallmark art form of Chicago, the Chicago River, which is a long eyesore that attracts large numbers of tourists while the Sears tower is a complex architectural structure in the city where people come to watch other states from the city. These and many other sites makes Chicago the place to be, hence the phrase, â€Å"Chicago the place to see† The Viola is a four-story monolith standing on Bryn Mawr Avenue that was built before the depression. What makes it a major tourist attraction site is the irony of the purpose of the reason for its construction, and its structural design in its interior. The building was built as a church by the Edgewater Presbyterian church, making it an unlikely place for some of the world’s most renowned magicians to appear and foreshow their talent. The architectural design of the theatre is what is even more spectacular, with the audience members having to walk up a long flight of stairs and wait in the hallway, making them feel like they are attending a Sunday school (Pang, 2009). Once the audience is inside, they discover the revelation of the city lit theatre, with its ornate, charmingly old-time performance space with wrap-around and an elevated seating for a hundred people. Nobody would expect such a theatre in a place like that. There is a monthly showcase of magicians and novelty acts that occupies the theatre on the first Wednesday of every month unlike the norm that was in the city about 50 years ago when magic used to be performed in restaurants and bars, Chicago nowadays sees less of such jostle due to the few options available, with comedy performances having taken over the performance arts stage. The Viola thus fills this gap and gives people a treat of magic performances by the worlds’ most famous magicians. What is even catchier about these performances is the difference in the setting to that of popular magic performances. Actually, â€Å"There is no glitzy Vegus production with tigers and industrial circular saws. More often than not, minds are blown in the audience, and the performers are close enough to catch the splatter† (Pang, 2009). The Chicago River is yet another tourist attraction site, with its long eyesore waterways turning to be a centre of tourist attraction, which are being reclaimed. Tourists have to walk past abandoned warehouses, cross-dusty railroad tracks and side step trashed mattresses in order to follow the course of the river (Valente, 1992). Dwellers of the city and concerned citizens have come up together to pull efforts together in order to rehabilitate the river, a wave that has spread across America with campaigns and initiatives to rehabilitate urban rivers. The river attracts some of the most passionate fans, which include a class of devoted poets, artists and writers. Although some of the river art have been met with a lot of problems, artists’ still believe that the river is a great place to show art. The coming into existence of the river in the city is what attracts more numbers of tourists to the city. The story is told of how for years, Chicago built a tourist attraction as being the city on the lake. Then without a warning, the underground tunnel collapsed and water came gushing into the basements of downtown offices, causing businesses to shut down for days. The course of the river is similar to most of urban waterways, where part of it flow alongside trash dumps

Security Management Essay Example | Topics and Well Written Essays - 750 words

Security Management - Essay Example The organization needs security training on function and responsibilities of the security and non-security personnel. The organization needs to training on the policies, procedures and rules that govern security matters in the organization. The non-security personnel need training on public relations issues such as conflict resolution and liaison with law enforcement agencies (McCrie, 2007). The security personnel must be trained on how to detect, deter and report security breach incidents and handling of emergencies such as disasters and the security guard safety precautions (McCrie, 2007). The personnel need training on communications and report writing skills. The security personnel should be trained on access controls, documentation, identification systems, and security surveys. Accordingly, both security and non-security staff need training on emergency services such as First aid, fire fighting and crowd control (McCrie, 2007). The security personnel should receive training on h ow to counter robbery, arson, sabotage, shoplifting and burglary (McCrie, 2007). Some of the training programs that will be used include classroom training through use of discussions, lectures and presentations. On the job-training is critical for security personnel and will include the use of training methods such as computer-aided interactive instructions that will enable the personnel to identify the security risks, attack methods and detection of security breaches (McCrie, 2007). Demonstrations will be useful in training the guards on handling of visitors and first aid operations. Role playing will training the personnel on handling incidents of burglary, robbery and shoplifting in the organization. Ongoing ‘in-service’ training will be implemented in order to maintain the knowledge, skills and attitudes of employees through issues of lectures, presentations and handouts on the

SABMIller's Case Study Example | Topics and Well Written Essays - 3000 words

SABMIller's - Case Study Example Some of these tools are explained in detail in the appendix given below. In view of the above assertion, it is significant to carry out a SWOT analysis of the above mentioned brewery in an attempt to establish if there is any correlation between its strategic position with its business strategy. â€Å"A SWOT analysis is a useful instrument for helping managers to identify internal strengths and weaknesses of a business and external opportunities and threats facing it,† (Strydom J. p 31). Basically, SWOT stands for strengths (S), weaknesses (W) while on the other hand the external environmental factors are regarded as either opportunities (O) or threats (T). This analysis is very important to managers as it allows them to focus on key strategic issues based on the notion that an effective strategy fully utilises the strengths and opportunities of a business and strives to minimise the weaknesses and threats. One main strength of SAB is that it is a force to reckon with in the market of alcohol brewing. Its ability to merge with other brewers is a big advantage since it would only need to specialise on nurturing premium segments rather than launching a new brand altogether. Local people often prefer to have a product which they can happily identify with hence there would be need to streamline the production to meet such needs. A close analysis of the case study shows that this is one of the major strengths of SAB since it is able to merge with established breweries. Weaknesses include the fact that it mainly relied on soft currencies for its profit in different breweries across the globe. A loss of confidence in emerging markets would badly damage its reputation. In some instance as highlighted in the case, devaluation of the local currency in developing economies may have negative impacts such as the reduction of profitability. It can also be noted that there have been a shift in the behaviour of customers in the market where the emergence of wine as another

Conflict Resolution-Mediation Essay Example | Topics and Well Written Essays - 2500 words

Conflict Resolution-Mediation - Essay Example A working agreement which spells out the rules of engagement and conduct during the negotiations is essential in the process. The mediation process involves acceptable third party intervention and confidential caucuses which enable the disputants become the decision makers in ending the conflict. The caucus stage entails making confidential meetings with each of the disputants whereby each party is allowed to reveal his or her grievances to the dispute. Party-directed mediation process can be summed up in to five stages which include the opening statement, the education phase, and the alternatives generation phase, the actual negotiation phase and the final closing phase. There are two pillars of the party-directed mediation that is the preliminary meetings which comprises of the pre-caucus and pre-mediation. Mediation process saves the parties to the dispute money while managing conflicts. Mediation is applicable in a wide variety of situations thus its effective in resolving disput es. Unlike arbitration where a third party makes a decision for the disputants, mediation is neutral process that accords the disputants the opportunity to solve their dispute with the support of a third party. The objectives of the pre-caucus are to enable the parties to the mediation to reduce the negative emotions to mediation and enable the negotiators to mediate more effectively. The initial aim of the pre-caucus is to facilitate empathic listening and develop an active listening approach as developed by Carl Rogers in the client-centered therapy. The initial joint session enables each party to confront the other through interpersonal negotiation while avoiding all the dysfunctional behaviors. Workplace mediation is always different since the parties address the working relationships which are part of the job and as a legal obligation. Party-directed mediation is useful in particular when mediating ethnic clashes or deep-seated interpersonal disputes between two individuals. Me diation process helps the parties to the dispute to develop tools which are critical in examining their disagreement. I agree with the book that the third party acts as a quasi arbitrator to the dispute. The pre-caucus affords the parties to the dispute an opportunity to vent their emotions, discover the blind spots and increase their commitment to resolving the dispute. The individuals at this stage will learn on how to listen to each other, and understand the issues of confidentiality to the mediation process. I have learned that empathic listening is an essential skill to effective mediation process since it encompasses attentive listening, asking questions about the mediation process as well as suggesting solutions to the dispute. The diagnostic stage of effective listening motivates the parties to speak without feelings of fear of being judged due to self-understanding and confidence. I personally believe that opening statement of the mediation process is aimed at ensuring conf identiality to the negotiations and setting the rules of engagement. The education phase provides an ample opportunity for all the parties to share their perspectives of the dispute and relive any negative emotions. The parties should aim at building cordial and close working relationships at this stage. The options generation phase entails brainstorming on all possible alternatives of resolving the conflict. In

Bentham and Kant Essay Example for Free

Bentham and Kant Essay Jeremy Bentham was an English philosopher and political radical. He is highly known and respected today for his moral philosophy, primarily his principle of utilitarianism. Utilitarianism evaluates actions based upon their consequences. Bentham is most famously known for his pursuit of motivation and value. Bentham was a strong believer in individual and economic freedom, the separation of church and state, freedom of expression, equal rights for women, the right to divorce and the decriminalizing of homosexual acts. During his time he helped with the abolition of slavery, the abolition of the death penalty and the abolition of physical punishment, including children. Bentham was born in Houndsditch, London in 1748 to a very wealthy family who supported the Tory party. He was very intelligent and bright minded. When he was a toddler he was found behind his father’s desk reading the history of England and at age three he began studying Latin. He obtained his masters degree from Oxford College in 1766, where there after he trained as a lawyer but never practiced. Instead, Bentham decided to write about the law. One of Bentham’s major influences was Joseph Priestley. Bentham read Priestley’s work and had quickly changed his mind about the conservative political views that he had grown up in. One statement in particular from The First Principles of Government and the Nature of Political, Civil and Religious Liberty had a major impact on Bentham; â€Å"The good and happiness of the members, that is the majority of the members of the state, is the great standard by which every thing relating to that state must finally be determined. Bentham was also heavily influenced by the philosopher David Hume. In 1798 Bentham wrote Principles of International Law where he argued that universal peace could only be obtained by first achieving European Unity. He hoped that some for of European Parliament would be able to enforce the liberty of the press, free trade, the abandonment of all colonies and a reduction in the money being spent on armam ents. One of Bentham’s most famous works was Constitutional Code in 1830. Here Bentham shares many of his ideas and beliefs on political democracy. Bentham argues that political reform should be dictated by the principal that the new system will promote the happiness of the majority of the people affected by it. He also argues about universal suffrage, annual parliaments and vote by ballot. Bentham believed that there should be no king, no House of Lords and no established church. In Constitutional Code Bentham also includes his view that men and women should be able to vote. Bentham also addressed the problem of how government should be organized and suggests the continual inspection of the work of politicians and government officials. Perhaps Bentham’s most famously noted for his work with Utilitarianism and is noted as the founder of modern utilitarianism. His work can be found in his book The Principles of Morals and Legislation. Utilitarianism is defined as â€Å"a theory in normative ethics holding that the proper course of action is the one that maximizes utility, specifically defined as maximizing happiness and reducing suffering. † Bentham examined the concept of punishment and when it should be used as far as whether a punishment will create more pleasure or pain for society. He believed that the legislation of a society is vital to maintain the maximum pleasure and the minimum degree of pain for the greatest amount of people. Jeremy Bentham passed away on June 6th 1832 at the age of 84. Immanuel Kant Immanuel Kant was born, lived and passed away in his home town of Konigsberg. He lived from 1724 to 1804. He studied at the local university and later returned to tutor and lecture students. It wasn’t until he met an English merchant by the name of Joseph Green that Kant learned of David Hume and began to develop his ideas of morals and values. Kant’s Critique of Pure Reason (1781) is believed to many to be his greatest work. Kant’s was known mainly, however, for his moral code The Categorical Imperative. Immanuel Kant was a follower of Deontology, or duty ethics. Deontology is a theory holding that decisions should be made solely or primarily by considering ones duties and the rights of others. One of the most important implications of deontology is that a persons behaviour can be wrong even if it results in the best possible outcome. And, an act can be right even if it results in a bad outcome. In contrast to consequentialism, a philosophy infamous for its claim that the ends justify the means, deontology insists that how people accomplish their goals is usually, or always, more important than what people accomplish. Kant’s moral philosophy is based on the categorical imperative, good will, and duty. According to the categorical imperative, it is an absolute necessity, a command that humans should accord with universalizable maxims to treat people as ends in themselves and exercise their will without any concerns about the consequences or conditions of their actions. This concept can also be expressed in systematic terms by the two following formulations. The first form of the categorical imperative prescribes that we must act only according to that maxim whereby we can at the same time will that it should become a universal law. The second one states that we ought to treat humanity, whether in our own person or in the person of another, always at the same time as an end and never simply as a means. In order to obey the categorical imperative, people have to act on a maxim that can be universalized. For instance, Kant argues that a lying promise is bad since it does not pass the universality test. Whenever a person makes a promise knowing that he will have to break it, he violates the first formulation of the categorical imperative. He intends to make use of another man merely as a means to an end which the latter does not likewise hold. In other words, Kant does not believe that lying promises are bad due to the fact that they generate bad consequences but because they result in a practical contradiction. According to him, people can’t lie since they can’t act for the results. Considering the second formulation of the categorical imperative, we have the need to have others working for us limited to some morality principles without treating them merely as a means. Kant believes that even though we have the ability to create our own ends, we can’t use people for our own devise. If we interfere with others to pursue their end while pursuing our own end, we violate their autonomy. We can’t have double standards for ourselves and for others. It is morally obligatory for us to respect others since people are rational agents. We must respect everyone in the exact same way and treat them as autonomous. As rational beings, humans are systematically united through common laws within the Kingdom of Ends. We belong to this kingdom as a member when we legislate in it universal laws while also being ourselves subject to these laws. According to Kant, everyone, no matter who they are, should be both the legislator and the follower of moral laws. Overall, Kant’s theory emphasizes that no one is an exception to moral laws, that people must act on strongly held beliefs or duties that are not in their own interest, and that we should never use people.

Why Do Conservatives Put An Emphasis On Tradition Politics Essay

Why Do Conservatives Put An Emphasis On Tradition Politics Essay In this essay I am going to attempt to answer the question enclosed in the title of this paper. First I will define the term conservatism; secondly I will present conservatism seen from different perspectives, such as traditional and modern conservatives. My investigation will then focus on attempting to answer the title question. In the last part I will construct an answer to the second question enclosed above and conclude with my own opinion on the subject matter. The term Conservative and Conservatism has been widely described and defined in literature. This depends on the area of the subject it has been elaborated upon. The concept of conservatism has always been controversial in a sense.  [1]  A conservative is disposed to preserve existing conditions, institutions, etc., or to restore traditional ones, and to limit change  [2]  . This can be seen as a way of favouring traditional views and values and tending to oppose change. This has been the foundation of conservatives throughout history and still being upheld in todays world and society. As an ideological and social system conservatism is characterised by the preservation of the existing conditions of society, including the polity, from significant changes, as well as restoration of a pre-existing social state to substitute for a non-conservative, notably liberal one. Therefore conservatism, when redefined can be segmented into several types such as; political, economic, social or cultural.  [3]  Huntington brings the view of conservatism seen through aristocratic theory as the ideology of a single and unique historical movement. (Huntington, 1957; 454) He further explores other theories which relate to specific classes in society. Liberalism is the ideology reserved for bourgeoisie; Socialism and Marxism are regarded as ideologies of the working class or proletariat whereas the Conservatism becomes the ideology of the aristocracy. (Huntington, 1957; 454) The doctrines of conservative belief derive from both Tory and Whig thought  [4]  . They contain a belief of loyalty to the rule of law, property ownership, upholding institutions, belief in organic nature of society and limited government.  [5]   Notably in England conservatism has become part of political speech around 1830. David Hume is often portrayed as the first conservative political theorist. He was the first major thinker to offer a philosophical defence of conservatism. Hume rejects the idea that the reason goes above what can be observed. In Humes view morality is concerned with action for a persons motives or reasons for action whether an act is right or wrong. Hume further argues that sentiment is a pre-rational feeling towards somebody or something. (Hoffman and Graham, 2009; 202) Conservative thinker Edmund Burke does not accept abstractions, such as the natural right proclaimed by the French Revolutionaries in 1789. Burke defends habit, taste and prejudice. For Burke, the knowledge of other people, including previous generations, is the resource that must be highly respected and followed if we are to avoid disastrous social consequences. Burke in Reflection on the Revolution in France compares contrasts societ ies- French which has neglected prejudice in favour of theory and British, which has remained close to its traditions :(..)that we have made no discoveries, and we think that no discoveries are to be made, in morality; not many in the great principles of government, nor in the ideas of liberty, which were understood long before we were born, altogether a well as they will be after the grave has heaped its mould upon our presumption, and the silent tomb shall have imposed its law on our pert loquacity. (Burke, 1969; 84 in Hoffman Graham 2009; 202) Burke was on the side of what he saw as Britains Great Tradition in political history. (Nisbet 1986; 4) Tory Party was older and favoured by the monarchy and much of aristocracy. Turning to the past for inspiration and for models on which to base policy in the present is deeply embedded in the conservative tradition and is sufficient reason for liberal and radical epithets of reactionary or anarchic. Emile Faguet refers to all of the conservatives as prophets from the past. (Nisbet 1986; 18) Nisbet refers to Churchills emphasis on relating to past in the following I like to live in the past; I dont think people are going to get much fun in the future. (Nisbet 1986; 19) For Burke legitimacy is the work of history and of traditions which go far beyond the resources of any single generations. (Nisbet 1986; 23) To see things authentically as a conservative Mannheim writes () is to experience events in term of an attitude derived from circumstances and situations anchored in the past. (Ni sbet 1986; 23) The concreteness of experience and history is persisting conservative emphasis. (Nisbet 1986; 24) Strauss is regarded as an important influence on what is called neo- conservatism. His view on conservatism is very different to that of Hume, Burke and Oakeshott. Strauss sought to revive both, the reading of text in the history of political thought and the natural right tradition. Use of Tory by modern British Conservatives has been somewhat more affection than anything really substantive. (Nisbet, 1986; 11) Jeremy Bentham and his utilitarian philosophy reject Enlightenment, French Revolution and all philosophers of natural right. He said the past is of no use. (Nisbet, 1986; 17) Michael Oakeshott was one of the most important conservative thinkers of the 20th Century. Oakeshott offered a critique of modern conservatives, who in fact are liberal rationalists. A rationalists stands for independence of mind on all occasions, for thought free from obligation to any authority as he puts it save the authority of reason. (Oakeshott 1962:1 in Hoffman and Graham 2009; 203) The rationalist rejects Burkean prejudice, custom and habit. He believes that it is possible to reason about political institutions and the fact that something exists, and has existed in past, is no justification for respecting or retaining it. This lack of respect causes a political attitude of radical change rather than gradual reform. The rationalist disrespect for institution extends to the world of ideas; instead of a careful engagement with the complex intellectual traditions that have shaped western societies. (Oakeshott 1962; 7 in Hoffman and Graham 2009; 205) Tradition is a practice or institution that has continuedx through time and has been inherited from an earlier period.  [6]  Conservatives have defended tradition of different grounds. For some conservatives, tradition reflects their religious faith. If the world is thought to have been fashioned by a creator, traditional customs and practices in society should be regarded as God given. Therefore to change the tradition or natural laws would be to challenge the will of God. However after the acceleration of historical change old traditions were replaced by new ones. Man-made laws were being created such as universal suffrage and free elections. This certainly weakened fundamentalist conservatism. Most conservatives, however, support tradition without needing to argue it has divine origins. Burke for example, describes society as a partnership between those who are living, those who are dead and those who are to be born. (Nisbet, 1986; 23) Nisbet uses Chestertons quote, who claims that tradition means giving votes to the most obscure of all classes: our ancestors. It is democracy of the dead. Tradition refuses to submit to the arrogant oligarchy of those who merely happen to be walking about. (Nisbet, 1986; 24)Tradition is therefore seen by conservatives as wisdom of the past. The institutions and traditions have been tested by time, and therefore should be preserved for the benefits of future generations. In a sense, conservatives take a Darwinian view on tradition, that tradition has gone through a period of natural selection and has only survived because it has worked and been found of real value. (Nisbet, 1986; 28) An example of this is the British Monarchy. As historical wisdom and experience is gained from it, as well as gives a focus of national loyalty, it should be preserved. In this sense, tradition also generates a feeling of identity for society and individuals. (Hoffman and Graham 2009; 213) As traditional practices can be recognised from generation to generation, it allows people to feel a sense of belonging. Change on the other hand is like walking into unknown and is therefore dangerous because it creates a feeling of insecurity and uncertainty, in fact threatening happiness. Tradition is therefore seen as fundamental principle of conservatism. (Hoffman and Graham 2009; 214) The philosophy of traditionalism is selective. A tradition must come from the past but it must be also desirable in itself. It is our link with the past. There is another attribute of conservative respect of the old and traditional; belief that no matter how archaic a given structure or modern may be, there may be in it a continuity, still vital, function that man profits from; psychologically or sociologically. (Nisbet 1986; 27) T.S Elliot in his essay on individual talent and tradition has written as confirmed traditionalist as well as revolutionist in poetic form and imaginary. The individual talent is simply impotent, condemned to spinning of wheels without a chosen tradition to work with. (Nisbet, 1986; 29) The Conservative Party is the mean in todays society through which Conservatism is introduced into publics spheres. It has a set of beliefs that comprise British Conservatism and those beliefs that have been preserved and developed over time by Conservative thinkers and politicians. However looking at the recent years it is clear that the link between conservation and development of those beliefs and policies has not been very close as it should have been. Having analysed the above areas of conservatism it is clear in a sense that todays Conservatism and Conservative Party is not really conservative. Margaret Thatchers government 1979-1990 was rather rationalist if we analyse it in Oakeshotts view. (Hoffman and Graham 2009; 206) For Oakeshott experience comes with tradition, therefore rationalism for him is the politics of the inexperienced. (Hoffman and Graham 2009; 207) The contemporary significance of traditional conservatism is seen less as an active ideology. Current conservativ e party is no longer fully conservative, but heading towards more of a liberal approach which is their source of ideas. (Hoffman and Graham 2009; 208) It can be argued that there has been a significant shift in policies and philosophy of Conservative party under David Camerons leadership.  [7]  He has adopted a significantly different approach to his predecessors which can be characterised by focusing on new areas of concern, avoiding specific commitments, considering better policy options and being more value-oriented than in former Parliaments.  [8]   In my opinion conservatives party and its internal disputes are clear reflection of the contradicting interests present within their ideology. Having in mind that conservative view presents that society does not exist, and the world is only a collection of self-seeking, egotistic individuals I do not believe they are able to invent a coherent way of thinking and going forward with a positive and constructive outlook upon the future. The fact that conservatives seem to be emphasising tradition and history of good times, praising the life and the level of society was during previous decades, will not improve but hinder their progression. I believe by looking backward to the past, conserving the reality cannot be perceived as it really is, but as it would like to be seen from the past perspective. I believe any modern ideology; system has to be addressed to current affairs and relevant to present issues and look forward to the future, rather than the past. However having said that it is clearly noticeable that modern conservative party is collaborating with Liberal-Democrats seems to be a new beginning or transformation that might bring positive results for the people and State.

Operating Strategy :: essays research papers

Operating Strategy Apollo Hospitals, India Considering the elements of a strategic service vision, the following are the factors applicable to the Apollo Hospitals of India. The service vision framework are according to an exhibit from "Lessons in the Service Sector" by James L. Heskett, Harvard Business Review, March/April 1987, p. 120. 1. Target Market segments  · Population Statistics : Population above 920 mill. people with wide variety of economic levels, social statuses, and cultures. Lowest per capita GNP $255, population growth 2% p.a. Growth real GNP 4.5%. Middle class 270 mill. Wealthy 30 million people.  · Target Market Segment : Upper middle class, the wealthy, and company employees with health insurance (108 million in 1994 ). Half of the middle class able to pay for private health care.  · Current Market Status : Most hospitals are state run at very low cost, low tech, and low quality. Private medical facilities are available - highly specialized, charging market rate (not latest technology but provides privacy and intimacy). Treatment of a complex ailment in a private institution is more time consuming and expensive.  · Economic liberalization : domestic and multinational companies - more competition  · Demography : urban, high income as dictated by upper middle class and elite class, neighboring countries.  · Psychography : Targeting people who can afford comprehensive high quality service; who are ready to pay more money for the comfort and treatment by more reputed doctors.  · Market Growth (income + segments growth) : Sizable market of 30 million (wealthy ) and 135 million upper middle class person.  · Proposed Plan : Comprehensive hospital emphasizing on tertiary care -- advance therapy and surgery, complicated medical problems. Primary care is stressed mainly through preventive measures. High quality medical care through the latest medical technology and the best qualified staff. 2. Service Concept  · The aim is to provide outstanding value to patient through superior medical results, quick treatment, and a low total cost of care relative to competitors. This can be achieved through the Five stars management philosophy : medical personnel, medical technology, employees, value and hospitality.  · Customers' perception : high quality, comprehensive service at 10-15% below than the top hospitals in Bombay and Delhi in a shorter time period (on average 7 days versus industry's average of 9-12 days).  · Superior medical treatment: success rate at par with highest international standard, competitive total cost of care. 3. Operating Strategy  · Hospital operates under the Five Stars philosophy. 1. Medical personnel : Highly skilled and experienced doctors mostly returning from western countries (well known both academically and clinically). Well trained and motivated junior doctors, technicians, nurses, and other supporting staff. 2. Medical technology: Latest available technology, constant and quick update,

Teaching: A Priceless Profession Essay -- Teachers Education Essays

Teaching: A Priceless Profession What if there was a career that not only inspired people to be lawyers and brain surgeons, but was also responsible for motivating the average fast food employee to take just as much pride and initiative in their work? Although most people underestimate the profound role that educators play in today’s society, teachers have a tremendous responsibility. They have the opportunity to not only challenge their students intellectually, but they can teach them how to gear what they have learned toward positive goals and how to use their knowledge for good. As a potential educator, it is my hope I can provide a stronger educational background for my students, but more importantly, they will leave my classroom with a strong sense of who they are. I hope to teach them to have compassion and a regard for others. My goal is to help students understand that it does not matter what occupation they end up pursuing. All that matters is that they do their job to the best of their ability. Although a certain career may not pay as much as another, in many other ways, it can be just as rewarding. I want my students to understand that even though they may be labeled as unimportant by other people, they can still accomplish great things. I have found these principles to be very true after watching the life of my grandfather. He was not a doctor or a great business man, instead, he was a coal miner. In all of the movies, West Virginia’s coal miners are portrayed as leading uneducated and unhappy lifestyles. My grandpa proved that this certainly was not the case. He was one of the smartest men I have ever known and although his job may not have appeared to be of any great importance, he proved that he could acc... ... from experience and the teacher is only a guide or a supervisor of their learning. I prefer progressivism over any other philosophy because education should be geared more towards the needs and interests of the students. My overall teaching philosophy is to be a good role model for the students, to teach them that everybody is unique, and that they are all of equal importance. Teaching may not be the best paying profession, but I feel that if do my best, I can achieve great things. It does not matter how much the salary will be. What matters the most is that teaching can be an everyday adventure and it is extremely rewarding to know that you have made such an impact on someone else. As an educator, I hope to not only prepare students to move on to the next level, but to teach them values and principles that they will carry with them for the rest of their lives.

Ethics of the Student and Professor Relationship Essay -- Ethics

When discussing the importance of professional boundaries in mental health work, most people think first of relationships between psychotherapists and clients. However, similar boundary considerations are relevant for professor–student relationships, supervisor–supervisee relationships, consultant–consultee relationships, and researcher–participant relationships. Although different dynamics are at play, the relationships psychologists have with each other, with other professionals, and with the general public have boundaries that warrant ethical consideration as well. The American Psychological Association (APA) offers some guidance. The APA Ethics Code says, in Standard 7.07: "Psychologists do not engage in sexual relationships with students or supervisees who are in their department, agency, or training center or over whom psychologists have or are likely to have evaluative authority" (2010). This seems to preclude dating during the semester, and perh aps afterwards if there is a likelihood of an ongoing interaction (Handelsman, 2011). For example, what if a student needs a letter of recommendation for a job and would like the professor they are seeing socially outside of the classroom setting to write it? Although the code is silent regarding social relationships and sharing feelings, we have a little bit of help from other sources of guidance such as institutional guidelines and moral codes; some colleges and universities have rules about professors dating students (Handelsman, 2011). It is common for adults working in corporate or professional settings to be briefed on the law and/or policy on sexual contact and romantic relationships in the workplace (Barbella, 2010). In a school setting, at least at the secondary level... .... ‘‘Ultimately what guides everything is that the student should respect the professor and the professor should respect the student,’’ stated President Williams; ‘‘that is the way it is in life anyhow’’ (Barbella, 2010). Works Cited Barbella, L. (2010). Sexuality & Culture. An Interdisciplinary Quarterly, Vol 14(1), pp. 44-48. Handelsman, M.M. (2011, May 28). Social and Sexual Scenarios With Students: What Would You Do? Professors Dating Students: Sensitive, Stupid, or Sleazy? [Web Blog Comment]. Retrieved from http://www.psychologytoday.com/blog/the-ethical-professor/201105/social-and-sexual-scenarios-students-what-would-you-do Knapp, S.J. (Ed.); Gottlieb, M.C. (Ed.); Handelsman, M.M. (Ed.); VandeCreek, L.D. (Ed.). (2012). APA handbook of ethics in psychology, Vol 1: Moral foundations and common themes. Washington, DC: American Psychological Association

Gandhi National Movement

Mahatma Gandhi was the fore front eminent political and ideological leader during the Indian independence movement. He pioneered satyagraha, resistance to tyranny through mass civil resistance. His philosophy was firmly founded upon truth and ahimsa (nonviolence). His philosophy and leadership helped India gain independence and inspired movements for civil rights and freedom across the world. Gandhi first employed civil disobedience while working as an expatriate lawyer in South Africa.He fought for the resident Indian community's struggle for civil rights. After his return to India in 1915, he organised protests by peasants, farmers, and urban labourers concerning excessive land-tax and discrimination. After assuming leadership of the Indian National Congress in 1921, Gandhi led nationwide campaigns to ease poverty, expand women's rights, build religious and ethnic amity, end untouchability, and increase economic self-reliance. Above all, he aimed to achieve Swaraj or the independen ce of India from foreign domination.Gandhi famously led his followers in the Non-cooperation movement that protested the British-imposed salt tax with the 400 km (240 mi) Dandi Salt March in 1930. He launched the Quit India Movement in 1942, demanding immediate independence for India. Gandhi spent a number of years in jail in both South Africa and India. The nationalist movement grew into a wide spread mass anti-imperialist movement at the end of the First World War. Mohandas Karamchand Gandhi came into prominence at this time and became the undisputed leader of the nationalist movement.Powerful mass movements were launched under his leadership. These involved defiance of laws, peaceful demonstrations, boycott of educational institutions, boycott of courts, picketing of shops selling liquor and foreign goods, nonpayment of taxes and the closing of vital business. These non-violent but revolutionary methods influenced millions of people belonging to all sections of society and infuse d in them bravery and self-confidence. Millions now braved the repression resorted by the govt boldly courted imprisonment and faced lathicharges and firings.Gandhiji lived the simple life of an ascetic and talked to the people in a language they could understand. He came to be known to the people as Mahatma Gandhi. Gandhiji made social report a part of the programme of the nationalist movement. His greatest achievement in the field of social reform was the campaign against inhuman institution of untouchability which had degraded millions of Indians. His other achievement was in the field of cottage industries. He saw in the charkha, the spinning wheel, the salvation of the village people and its promotion became part of the congress programme.In addition to infusing people with the spirit of nationalism it provided employment to millions and created a large group of people who were ready to throw themselves into the struggle and court imprisonment. The charkha became so important t hat it eventually became a part of the flag of the Indian National Congress. Gandhiji devoted himself to the cause of Hindu-Muslim unity . He regarded communalism as anti-national and inhuman. Under his leadership the unity of the nationalist movement was secured and the people worked hard for independence.As a practitioner of ahimsa, Gandhi swore to speak the truth and advocated that others do the same. He lived modestly in a self-sufficient residential community and wore the traditional Indian dhoti and shawl, woven from yarn that he had spun by hand himself. He ate simple vegetarian food, experimented for a time with a fruitarian diet, and undertook long fasts as a means of both self-purification and social protest. He inspired many prominent Leaders across the World, who applied his principles in their own countries, in fight against tyranny and for gaining Independence.Gandhiji is referred to as Mahatma or â€Å"Great Soul† (magnanimous), an honorific first applied to hi m by Rabindranath Tagore). In India, he is also called Bapu and officially honored in India as the Father of the Nation. His birthday, 2 October, is commemorated as Gandhi Jayanti, a national holiday, and worldwide as the International Day of Non-Violence. Gandhi was assassinated on 30 January 1948 by Nathuram Godse of RSS. He was really a Mahatma born in the disguise of a Man. ————————————————-

Homeland Security Essay

The challenge to traditional policing issued in the 1970s has created a new concept of policing and that is the role of policing in homeland security. In the wake of the September 11 terrorist attacks in 2001, the federal government has shifted to a policy of homeland security, and part of that has incorporated local firefighters and local police agencies (Oliver & Hilgenberg, 2004). But the creation has a lot of inadequacies. First, so much confusion still abounds in terms of what homeland security means: is it simply being more watchful for suspicious activities, is it intelligence gathering on the part of patrol officers, or is it standing guard at possible terrorist targets in their jurisdictions? Another inadequacy is not so much determining if local police are going to play a role in this new public policy but rather what role they can play. And, beyond determining what role the police will play in homeland security, the natural extension of this is to ask who will pay. Moreover, as the public policy of homeland security is clearly a national policy issue, it would seem that the policy will be an intergovernmental one driven by the presidential administration. While there have been some intergovernmental grant programs implemented, many of these have been slow to reach the local level, raising further questions as to what role state and local police can play without the necessary resources. While it is too soon to determine how this new policy will play out in terms of policing in America, there is little doubt that this will be an active part of the public policy process in policing for years to come. As America responded quickly to the attacks by educating themselves on terrorism and demanding action from government, the president and the U. S. Congress quickly began a process of restructuring government to focus on antiterrorism (prevention techniques) and counterterrorism (how to actively respond to terrorists) measures in order to meet these new demands. The creation of the Office of Homeland Security and its subsequent passage as a cabinet-level department is an inclination that the national government is moving in this direction. In addition, many of the grants for local agencies are now centered on homeland security, and perhaps most telling is the fact that the Office of Community Oriented Policing Services had its budget slashed by the Bush administration, but the Department of Homeland Security has seen its budget allocations increase substantially. Although only time will tell if American law enforcement has entered into a new era of policing, there is little doubt that homeland security has become an overriding policy of the current administration and that, it will continue to be at least until January 2009 (Office of Homeland Security , 2002). Hence, a coordinated response to Homeland Security was good for interagency operations. That is why President George W. Bush signed the Homeland Security Act into law on November 25, 2002 (National Public Radio, 2002). It has been touted to be the greatest reorganization of the federal government since the beginning of the Cold War. Several departments have been assigned to the new Secretary for Homeland Security. Some of the agencies transferred to the Homeland Security (DHS) include the United States Secret Service, National Infrastructure Protection Center, Energy Assurance Office, National Communications System, United States Coast Guard, Customs Service, Transportation Security Administration, Federal Protective Service, Functions of the Immigration and Naturalization Service, Office of Domestic Preparedness, Selected functions of the Department of Agriculture, Federal Law Enforcement Training Center, National Bio-Weapons Defense Analysis Center, Nuclear threat assessment programs, Federal Emergency Management Agency, Domestic Emergency Support Team, Metropolitan Medical Response System, National Disaster Medical System, Strategic National Stockpile of the Department of Public Health, Nuclear Incident Response Team, A new Bureau of Citizenship and Immigration Services. Further, this new department is arranged under five Under Secretaries for: (1) Information Analysis and Infrastructure, (2) Science and Technology, (3) Border and Transportation Security, (4) Emergency Preparedness and Response, and (5) Management Services (Oliver, 341-342). The purpose of this massive reorganization of course is to centralize government planning and response. The DHS has been charged to cooperate and coordinate with state and local governments. The CIA and FBI remain separate agencies. In the homeland security, the government is calling for full participation by state and local agencies. Hence, it is good as it seeks to develop cooperative relationships with existing police agencies and homeland defense managers need to negotiate power sharing arrangements with state and local police.

Multinational Perspective Essay

Multinational corporations originated from the need for substantial capital and limited risks for large industrial or commercial consortiums for overseas trade. The modern concept of multinational corporations came into being during the 17th and 18th centuries and a good example of such a venture is the British East India Company in South Asia and the Dutch East India Company in South East Asia’s Indo-Chinese Peninsula. With the current communications and management technologies available, more companies are able to make the most out of international trade liberalization.  Ã‚   Today, multinational corporations are expanding themselves to increase their markets, increase brand presence and image and benefit from inexpensive raw materials and labor (Chang, 2003). Scenario for Multinational Corporations Currently, there is an estimated 40,000 multinational corporation’s world wide in and approximately 250,000 overseas collaborations running cross-continental operations. Most multinational corporations are from the United States, Western Europe, and Japan. By 1995, the top 200 multinational corporations alone had collective revenues reaching of $7.1 Trillion which is equivalent to 28.3 percent of the gross domestic product globally (Bernal, Kaukab, and Yu, 2005). The operations of multinational corporations are governed by the policies of The World Trade Organization (WTO), the International Monetary Fund (IMF), and the World Bank. Though the traditional view of multinational corporations is that of big manufacturers, current trends and developments in technology have also given rise to â€Å"micro-multinationals†[1] as well business process outsourcing (BPO) ventures (Ewing, 2005). Among the countries being targeted for multination expansion, China and India are the current top favorites of multinational companies (McKinsey Global Institute [MGI], 2004). Globalization has allowed access to markets via technology and has reduced distribution, lower internal coordination costs.   It has also allowed for networking of specialized services and products in support of corporate functions through BPO’s whether within the companies internal operations or its external activities (Ewing, 2005). Entry to Developing Markets   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Though the scenario of multinational expansion has changed, the methods of entry remain traditional in most developing countries (Hoos, 2000; Tubbs and Schulz, 2006). Strategies to enter new markets for multinational corporations are by mergers or direct acquisition, sequential market entry and through joint ventures Mergers   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Merger or direct acquisition of existing companies is the forthright entry to a market. This is the strategy usually employed by large multinational corporations. It maximizes the economies of scale advantage to overcome barriers to entry (Ewing, 2005; Multinational Corporations, 2006). Considered as foreign direct investments (FDI), they are subject to not only commercial regulation but are also direct affected by fiscal and investment policies by the host country, and related international trade policies (United Nations Conference on Trade and Development [UNCTAD], 2005). Beginning in 2004, it has been identified as a critical in developing countries and studies have been commissioned to quantify their impact of the economies of developing countries (UNCTAD, 2004). The first ranked for FDI is India and was followed closely by China (Kearney, 2004). Though India has been able to outrank China and Mexico, China actually acquires more FDI significantly either country since 2002 (Department of Industrial Policy and Promotion, 2005; MGI, 2004). Sequential Market Entry Sequential market entry involves foreign direct investment and getting hold of a sector if the market related to the parent’s companies core line of business, usually its key product or competency. It is different from a merger that it that the parent company does not bring in all of products, services or operations into a host country (Multinational Corporations, 2006). This method is the preferred by smaller companies and conservative business to begin their multinational operations (Kearney, 2004). Sony, in its initial expansion to the United States first limited its operations to manufacturing televisions but eventually expanded its operations to the production of magnetic tape and eventually to the production of audio in the 1970’s. Today, Sony’s operations in the United States include semiconductors and personal communications. Sony’s United States operation used its expertise and leadership in manufacturing television to establish itself in the industry and its local competition and then used this it as leverage to expand its products in the United States (Multinational Corporations, 2006). Another development in multinational operations is that outsourcing of operations or services to other countries. According to both UNCTAD 2004 and 2005 reports, BPO is one of fastest growing industries globally. Joint Ventures   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Joint ventures are operational or service partnerships with companies already existing or operating in the host country. This method of entry is limits is not as liberal as mergers or sequential market entry but is effective when entering heavily regulated markets. The method has been in particular use in entering the markets of China, the Soviet Union and that of Eastern Europe (Multinational Corporations, 2006). The issue of limited control for parent companies is the usually critique of this method and has raised issues regarding liberalization issues (Bernal, Kaukab, and Yu, 2005). Host countries and venture partners significantly benefit from the transfer of technology and management while parent companies are able to enter otherwise restrictive market. The concern for multinational companies however is the development of conflicts with joint venture partners who can become competitors (Multinational Corporations, 2006). Another concern for most multinational corporations regarding entering into joint ventures is that local policies, which their joint venture partners are subject to, are easily changeable. The creation of stable industry policies that may affect joint ventures and similar partnerships is one of the major focuses of developing countries trying to attract more investments (Department of Industrial Policy and Promotion, 2005). This move has been supported by the current agenda of the World Trade Organization (WTO), the International Monetary Fund (IMF), the World Bank and the United Nations (UNCTAD, 2004). Multinational Corporations in Developing Countries   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Entering into s developing market requires the recognition and creation of strategies to deal with poor economic conditions, low educational levels, technological barriers or lack of existing channels and infrastructures for the distribution of the product and service (UNCTAD, 2005). Globalization and Trade Liberalization   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A major reason for multinational expansion is accessing a wider market. This coincides with the international agenda of globalization and trade liberalization. The Asian Financial Crisis may still be a haunting scenario for many investors (Bernal, Kaukab, and Yu, 2005), but the current trends in Asia, particularly China and India, is creating renewed interest in expanding to developing countries (MGI, 2004).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The efforts of developing countries to liberalize trade and industries have also been encouraging. Recent trends have allowed the return of Coca-Cola to India (Nayak, 2006), the ranking of Asia as the most attractive FDI region (Kearney, 2006) and the growing success on BPO’s in India and the Philippines (UNCTAD, 2005).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The operations of multinational corporations have been constructive in the development of markets, the introduction of new products and the development of industries as a whole. Investments of these companies have helped stressed local economies space and opportunity to expand. The technology and management knowledge that multinational companies bring in has helped local research and development to improve standard practices and policies.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Multinational companies have been able to benefit from reduced labor, materials or overall operation costs. A significant benefit of going global is establishing brand and product presence. Many companies have also benefited from the variated market that globalization has provided them increasing product efficiency and marketability. Global Trend and Scenario   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Though multinational corporations significantly contribute to international trade and development have not enjoyed acclaim. Their presence and nature if operations is said to be more detrimental to local economies than beneficial (Baitu, 2006; Tubbs and Schulz, 2006, Chang, 2003). Studies have also shown the negative effects of the operation of multinational corporations prompted some governments to take a protectionist approach which ahs deterred not only these corporations but trade liberalization in general (Wysocki, 2006).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   According to the UNCTAD report regarding multinational corporations in least developed countries (UNCTAD, 2002), the â€Å"highly centralized nature of these corporations† is the main apprehension against them. Though multinational corporations contribute significantly to local economies in the form of investment, technology and commerce, there is very little barrier to exit from the local industry in case of a national economic downturn (Hoos, 2000). They have been said to have contributed to the aggravation of labor conditions, environmental degradation, and degeneration of social conditions, declined local industries and livelihood, and raised inflation levels (Tubbs and Schulz, 2006).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Furthermore, the mobility of multinational corporations leaves host countries with less bargaining power and allows them significant leverage over countries that are highly disadvantaged and needy of the jobs and investment they provide (UNCTAD, 2002). Current Issues and Concerns for Multinational Operations   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In an international environment, a company’s concerns will have to consider more external factors. International trade laws, liberalization and globalization are the obvious concerns that emerging multinational have to face. More importantly, companies have to orient themselves to local markets, governments and policies that may they may not be familiar with (Wysocki, 2006). Exploring international markets also increases competition not just with traditional competitors but also for new business developments such as micro-multinationals (Ewing, 2005). The risks and challenges of becoming a multinational company need strategies that consider the company’s goals, international market scenarios and effective local marketing approaches. Recommendations In general, there should be further quantitative and qualitative studies on multinational corporations’ actual impact to host countries from individual to industry levels especially for the least developed countries that host them (UNCTAD, 2002).   Multinational companies nowadays are not just commercial ventures; they also serve as highways of liberalization. Some multinational companies have greater assets than the poorest of developing countries leaving these nations with limited bargaining power. The need to attract investments by multinational companies must not undermine the focus on welfare, health and social life (Baitu, 2006). The following considerations are framed UNDTAD’s World Investment Report for 2004 and 2005, the 2002 Report Multinational Corporations in Least Developed Countries; and Bernal, Kaukab and Yu’s The World Development Report 2005 for the WTO:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Host countries must focus on creating industry competencies that do not just cater to the current needs of multinational companies operating in the country. Developing countries must not become dependent on multinational companies and focus on boosting domestic growth.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Developing countries should be liberally cautious in accepting FDI to the country so as to ensure the survival of its local industries. It should not take a protectionist approach creating false security in its local industries but only to alleviate the pressures of advantage that multinationals have by reasons of economies of scale.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Closer coordination with trade associations and international liberalization agencies will allows for developing countries support and knowledge in dealing with multinational corporations. At the same time, multinational corporations can benefit form the standardization of commerce and industry, decreasing speculation and uncertainty for their ventures.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Consideration of social issues can help multinational companies have a better local feel for the host country’s markets. Pubic relations in smaller countries become crucial in building brand and product awareness, purchase and loyalty. It also allows for the feasibility of introducing product extensions and even non-related ventures.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Involving multinational corporations in the host country’s environment, community, research and development can establish a more meaningful relationship. Multinational corporations can benefit form having greater involvement in factors that affect its operations. Fears of multinational corporations being insensitive to local concerns can also be alleviated. Conclusion   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Multinational expansion is but one of the key indications of globalization. Liberalization signifies a country’s acceptance of globalization. Together, multinational corporations and liberalization act as vehicles for development and cooperation.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As in all relationships, work must be put in to make it work. Multinationals grow when local economies grow through the development of labor, resources and market expansion. Host countries benefit from the investment, technology transfer and the development of its emerging industries. New multinational companies in particular could prosper and establish themselves well in developing economies where competition may not as stiff and industries not as crowded as they would be in developed countries.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The key is in finding a balance between multinational investment and local industry growth and in creating  Ã‚   a relationship between multinational corporations and host countries that are based on mutual development.          References Baitu, J. (2006) Globalisation for the Common Good and Social Justice in Sub-Saharan Africa [Online]. Available from [Accessed 12 September 2006]. Bergsten, C. F. (2000) The Global Trading System and the Developing Countries in 2000 [Online]. Working Paper 99-6 Institute for International Economics. Available from [Accessed 12 September 2006]. Bernal, L. E., Kaukab, R. S., and Yu, V. P. B. III (2005).The World Development Report 2005: An Unbalanced Message on Investment Liberalization. WTO Institutional Governance and Dispute Settlement, of the Trade and Development Programme: Geneva, Switzerland. Brown, A. G. and Stern, R. M. (2005) Concepts of Fairness in the Global Trading System. Gerald R. Ford School of Public Policy, The University of Michigan: Michigan, USA. Chang, H. (2003) Foreign Investment Regulation in Historical Perspective: Lessons for the Proposed WTO Investment Agreement [Online]. Available from: [Accessed 12 September 2006]. Department of Industrial Policy and Promotion (2005) Foreign Direct Investment-Policy & Procedures. New Delhi: Government of India. Available from: [Accessed 12 September 2006]. Ewing, R. (2005) The New Multinational: Lilliputian, Not Leviathan [Online]. Speaking Freely – Asia Times Online. Available from: [Accessed 12 September 2006]. Hoos, J. (2000) Globalization, Multinational Corporations and Economics. Kiado: Budapest. Kearney, A.T. (2004) China and India Jockey for the Top Most Attractive Foreign Direct Investment Destination Globally While the U.S. Is Challenged by These Rapidly Evolving Economies: Global executives see the best business environment since 2000, yet a return to positive global FDI flows could be complicated by a new mix of operational risksâ€Å". A.T. Kearney:   London, United Kingdom. Nayak , A. K. J. R. (2006) Globalization of Foreign Direct Investment in India: 1900s–2000 [online]. Available from [Accessed 12 September 2006]. McKinsey Global Institute (2004). China and India: The Race to Growth [Online]. McKinsey Quarterly . Available from [Accessed 12 September 2006]. Multinational Corporations (2006) Encyclopedia of Management, Volume Mar-No. Available from [Accessed 12 September 2006]. Tubbs, S. L. and Schulz, E. (2006) Exploring a Taxonomy of Global Leadership Competencies and Meta-competencies. The Journal of American Academy of Business, Volume 8, Number 2, March   2006, Dissertation Paper presented at the Eastern Michigan University. Eastern Michigan University: Michigan. United Nations Conference on Trade and Development (2002) Multinational Corporations (MNCs) in Least Developed Countries (LDC’s). United Nations Conference on Trade and Development (2004) World Investment Report 2004. United Nations Conference on Trade and Development (2005) World Investment Report 2005. Wysocki, B. Jr.(2006) Symbol Over Substance [Online]. Original Article printed in The Wall Street Journal, September 25, 2000. Available from [Accessed 12 September 2006]. [1] Micro-multinational are companies who have small manpower and overall scale unlike the traditional multinational corporations. An example is Navin Communications who have engineering operations in Mumbai, India and headquarters in Mountain View, California (Multinational Corporations, 2006).