Macquarie Bank

?Introduction Macquarie Bank has been recognised as one of the most prestigious banks in Australia and around the world. Macquarie was established in Australia in 1969, it began operations in Sydney in January 1970 with only three staff. Macquarie Bank first opened its doors for business on 1 March 1985 with a retail branch in Sydney. Today, Macquarie Bank operates in a range of investment banking, commercial banking and selected retail financial services markets both in Australia and overseas. It is the only substantial, majority Australian owned investment bank and is a licensed trading bank under the Australian Banking Act 1959 (Macquarie History, 2007). Macquarie Bank has been consistently associated with a stream of major financial innovations, which have underpinned its reputation as a market leader. Their main focus that has helped them in their success is their risk management department as well as their focus on select markets on which they enter. The Macquarie culture is represented by the way in which they work together. The values to which they aspire can be summarised in six principles: integrity, client commitment, strive for profitability, fulfilment for our people, teamwork, and highest standards. Macquarie Bank’s commitment to the six principles is vital for continued growth and prosperity (Macquarie, About Macquarie, 2007) Operating Environment: The Macro Environment Political and legal forces Political and legal forces hold a great impact on all industries that wish to operate legally within a country. Regulatory groups are required within the banking industry to assist in the stable operation of a nation. A major regulator would be The Australian Prudential Regulation Authority (APRA). Various other major political and legal forces which solely influence the banking industry include The Australian Bankers’ Association (ABA), The Australian Securities and Investments commission (ASIC) and The Reserve Bank of Australia (RBA). APRA was created to be an advisory figure in the regulation of the Australian financial services industry. This group â€Å"oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry† (APRA, 2007). The ABA works with its members to provide analysis, advice and advocacy and contributes to the development of public policy on banking and other financial services† (ABA, 2007). The ABA acts as a union for banks and ensures that the banking industries views are heard, when the government decides to alter policies or legislations. Th e ABA also helps to strengthen the benefits of competition to Australian banking customers. ASIC’s task is to enforce and regulate companies and financial services laws in order to protect the customers as well as the investors and creditors. ASIC exists to regulate; â€Å"Australian companies, financial markets, financial services organisations and professionals who deal and advise in investments, superannuation, insurance, deposit taking and credit† (ASIC, 2007). â€Å"The RBA’s main responsibility is the monetary policy† (RBA, 2007). The board members make the policy decisions with the aim of gaining a low and stable inflation over the medium term. According to the RBA website, the other major goals include; maintaining financial system stability and promoting the safety and efficiency of the payments system. The RBA also acts as a banker to the Australian Government and actively participates in financial markets, manages Australia’s foreign reserves and issues Australian currency notes. Global Forces Changes in the financial status of markets overseas, drops or increases in interest rates overseas, and even new political regimes can all affect organisations around the world. Global forces which have recently held an effect on Macquarie bank would be the current drop in the US economy which has affected markets all around the world. The main impact which it has made in Australia has to do with financial institutions since they hold assets from the US market. This has directly affected Macquarie with its financial services and products. Economic forces Economic forces pertaining to Australia can greatly influence the way businesses operate. General economic forces such as inflation rates, interest rates, currency exchange rates, unemployment levels, average disposable income, and personal saving rates can all affect organisations to a certain extent (Hill et al, 2004, p74). Inflation has affected Macquarie bank which then in turn goes to interest rates. Currently economic forces within Australia include rises in certain industries including the mining industry and real estate. By these industries entering a boom period, it increases the amounts which these industries will be willing to invest which in turn increases profits for banks. Technological forces In modern society with technology being so closely tied to having a competitive advantage, a lot of industries compete to keep up to date with new developments. The invention and increased use of computers, internet, and phones have all made a major impact on organisations around the world. The main effect that technological advancements have made within Macquarie bank is that internet banking is now a common and widely used item so banks need to constantly upgrade their technology in order to prevent hackers from entering their databases and causing havoc. Operating Environment: The Micro Environment There are many forces that can impact the outcome of a firm’s growth and profitability. For Macquarie Bank, the forces that impact their success will be explored with the analytical frame work introduced by Michael Porter; his five forces model, which will look at the major contributing factors that will aid and deter the growth of Macquarie Bank in this industry. Risk of threat of new entrants The risk and threat of new entrants into the market can be seen as both high and low. High, since there has been a deregulation of the market for banking, which will allow for overseas competitors to compete in the local market. This is a large threat since these are the competitors that have a large pool of resources that can actually compete to a high level with Macquarie. However, the threat can also be seen as low since there is still a high degree of entry barriers, i. e. operational regulations and laws implemented by the government and other regulatory boards. Additionally, a major factor that will deter competitors would be such things as brand loyalty as well as the over saturation of banks in the industry. Therefore, the threat of new entrants can be seen as moderate and is highly dependant on the entrant’s resources and capabilities. Rivalry among established companies The rivalry in the banking industry can be seen as discrete, yet volatile. They advertise in the media about their interest rates, products and services, however, apart from that, their actions are rarely seen. Each bank firm always try to gain the better package and interest rate to attract more customers. However, these rates are quite similar with little variance. A major factor that gives them the competitive advantage would be the image the bank upholds and the services provided in comparison. The main point of attack that most banks concentrate on now is their customer service area, since most of the services that they provide are quite similar. Macquarie has a very well maintained, high profile image. They provide a lot of diverse services; however, they charge premium service fees for them. This has not deterred people from using their services, but has given their users a sense of assurance; they feel as though they pay top dollar for top service and quality. This sense of prestige as well as resources and capabilities has given the Macquarie bank their high image and profile as well as success. Bargaining power of suppliers The main supplier of Macquarie bank would be their shareholders. By owning a share in Macquarie depicts that these people have invested money into this organisation and since there are various options to choose from, Macquarie must be unique in some sense to attract these people. It would become costly for Macquarie to lose these shareholders as with banks, money is the good which is being transferred and to lose shareholders would only lead to a deficit in funding for the bank. Therefore, the bargaining power of suppliers would be seen as high since there is no switching cost for them to move their money into another investment area. Macquarie must come to a compromise with supplier demands or face losing a stream of equity and funding. Threat of substitutes The main threat of substitute services for Macquarie Bank would be; credit unions and building societies. Credit unions, especially the larger ones offer most of the services that Macquarie offer, however, with fewer fees. Building societies although not as main stream and service diverse as credit unions have the potential to develop the competencies to deliver them, for example, Bendigo Bank; which was originally a building society. Although these two types of institutions do not offer the wide array of services that Macquarie does, it can steal away some of Macquarie’s customers, since they deliver a minimal version of the services that Macquarie provides. Additionally, with Macquarie’s reputation and diverse array of services, the threat of substitutes would be on a miniscule level. Bargaining power of buyers The banking industry in Australia can be seen as a saturated market. This saturation allows buyers (consumers) a level of bargaining power. This means that the consumer can negotiate interest rates and packages to their advantage against the provider. However, since there are only a few financial institutions in Australia, many of whom can charge higher prices for services and packages. Yet on the other hand, the domestic banking industry is considered to be competitive, which can offset the balance with only having fewer firms in the market. Therefore, the bargaining power of buyers can be considered as moderate. Competitive Advantages Macquarie bank provides investment banking, commercial banking, retail financial services in Australia and selected financial services offshore. It operates through the following business segments: Asset and Wealth Management; Financial Markets; Investment Banking; and Lending. Macquarie is a diversified international provider of financial and investment banking services. It has the following key resources and capabilities compared to Commonwealth and Bendigo Bank: Human Resource Macquarie bank’s hosts and presenters are industry experts who have the xperience and knowledge to achieve the maximum outcome in this complex and rapid changing economic environment. With a network of over 10,000 people in 24 countries, the staff can add the most value and advantages to clients. Annette Martins is currently employed as an associate economist in the economics team at Macquarie bank. Her past experience includes working for the NSW Treasury as an economist within the Economic and Fiscal directorate. Other staffs have worked for such as Reserve bank of Australia (Macquarie, 2007). At Macquarie, there are elites in different professions such as Economy matters, Marketing, Property and Vision. All the staff members are carefully drawn from a broad range of industries and market segments. It is also allowing them to apply their expertise to the customers. Customer Resource Macquarie bank is currently operating its services in more than 40 countries around the world as OzForex is serving around 30,000 transacting customer internationally. It provides a depth of service (accurate and insightful view) with specialist capabilities to wholesale and private customer in both the domestic (Australia) and international economies (Macquarie, 2007). Simultaneously all these customers may invest their money with other Macquarie’s business groups such as Funds management or financial service groups. They both run domestically and internationally. The Financial service group services more than 670,000 clients all together with other Macquarie Departments. Department Resource Macquarie is currently operating its service in seven major business groups which are Investment Banking Group, Equity Markets Group, Treasury and Commodities Group, Banking and Securitisation Group, Real Estate Group, Funds Management Group and Financial Services Group. With all these services, Macquarie owns huge customer resources within Australia and foreshore. Each department in Macquarie is serving specific groups which may overlap with other departments because Clients may be interested in more than one service which Macquarie provides (Macquarie, 2007). Subsidiary Companies Macquarie is providing its specialist banking and financial service in select markets around the world. It also has a lot of subsidiary companies around the world. OzForex is an online foreign exchange provider which Macquarie has purchased 51% of the shares. It will allow Macquarie to offer tailored foreign exchange services to its substantial retail financial services within financial service groups (Macquarie-OzForex, 2007). Comparison against rival Banks Commonwealth bank’s principal activity is providing integrated financial services which include business and institutional banking, superannuation, life insurance, funds management and broking services and finance company activities. It operates in Australia, NZ, UK, USA, and Japan†¦etc. It has a wide presence in Australia with the largest branch and ATM network. It also received the award for excellence – Best Bank in Australia but was not mentioned in relation to investment services (Commonwealth Bank, 2007). Bendigo bank’s main financial services include business banking and commercial finance, funds management, treasury and foreign exchange services, superannuation and trustee services. It operates mainly in all Australian estates and the Australian Capital Territory. Bendigo bank is responsible for a number of banking innovations in Australia such as visa credit and debit cards (Bendigo, 2007). With all the resources and capabilities when comparing Macquarie bank to Commonwealth bank and Bendigo bank, Macquarie is on a leading position for investment banking. Deregulation is expected to lead to an increase in competition in the banking industry, and could involve a decrease in profitability. There are four factors in a bank’s competitive advantage that needs to be considered: (Chen. T. , 1999) Manpower Financial management Asset base Intangible assets Achieving success in the industry will involve 3 key factors. These are the costs, product and financial strength of the corporate entity. To be successful in the banking industry, the bank needs an insight into the changes in banking methods, cost management and long-term financial solutions. Macquarie bank’s strategy is to expand selectively in practical areas. (Macquarie Annual Report, 2007) Macquarie has entered the market of infrastructure investing since 1996. It has become one of the largest private managers of infrastructure in the world, with rapidly increasing revenue and profit. Macquarie bank’s specialist funds are currently buying toll roads, airports and rail systems world-wide. It is also a key growth driver and has been exported to international markets; its assets under management in specialist funds increased 50 per cent from $A87. 6 billion to $A131. 3 billion. Macquarie’s long-term strategy has allowed them to enter new sectors and regions flexibly as opportunities arise. This strong risk management has become a key factor of Macquarie’s success. The overall result is driven by strong growth in every region where Macquarie operates. Macquarie has achieved No. ranking in Australia for mergers and acquisitions whilst maintaining its leading market position for equity rise. It has also been ranked No. 1 broker by the ASX (Australian Stock Exchange) in market share. Macquarie bank, Australia’s largest Cash Management Trust (CMT) provider also has an agreement with Australia’s largest retail equities network, GBST (Glob al Banking & Securities Transactions). These strategic alliances provide Macquarie with an enhanced reach to its customers as well as customers from other alliances, hence forming a broader network. Company Strategy Macquarie company strategy Macquarie states that â€Å"Our strategy is to expand selectively, seeking only to enter markets where our particular skills and expertise deliver real advantage to clients† (Macquarie Annual Report, 2006); â€Å"Macquarie aspires to be a pre-eminent provider of financial services over the long haul† (Macquarie, 2007). This statement also shows that their strategy is to be a leader in their sector. (For more information on the business level strategy, please refer to appendix 1). Competing with Macquarie. Macquarie Bank Group can be seen as the market leader in investment banking, inancial services and retail banking â€Å"Macquarie Bank has been consistently associated with a stream of major financial innovations, which have underpinned its reputation as a market leader† (Macquarie History, 2007). The way that they have focused on market segments has given Macquarie an edge over their competitors; since they service the market segments which they see profit and growth in for themselves as well as their customers. What this means is that they minimise their risk of entering â€Å"stagnant† areas and maximise growth and return by servicing their target groups. Macquarie Bank Financial Results Total income from ordinary activities for the year 2007 was up 49% to $A7,181m; International income was up 70% to $A3,457m; Net fee and commission income was up 25% to $A3,540m; Trading income was up 20% to $A1,047m; Net interest income was up 23% to $A728m. Asset and equity investment realizations and other income were up 257% to $A1, 866m (Macquarie Financial Report, 2007). The expense to income ratio was slightly down at 73. 2 % (Macquarie, 2007). Refer to appendix 2 for the pie chart. *EPS = Net Earning / Outstanding shares Macquarie banks financial possession as of May 2007 is Net profit of A$1. 46bn. There has been a 60% increase as compared to the later year and six times the level increase as compared to the last five years. Earnings per share increased 48% from $A4. 00 to $A5. 92. This is 4. 5 times the level of earnings per share of five years ago (Macquarie, 2007). Earnings per share are generally considered to be the single most  important variable in determining a share's price. It is also a major component of the price-to-earnings valuation ratio. The P/E looks at the relationship between the share price and the company’s earnings. A high P/E  suggests that investors are expecting  higher earnings  growth  in the future compared to companies with a  lower P/E. However, the P/E ratio doesn't tell us the whole story by itself. It's usually  more useful to compare the P/E ratios of one  company to other companies in the same industry, to the market in general or against the company's own historical P/E. P/E Ratio = Market price per Share / EPS P/E of Macquarie for 2007 = 82. 75/ 5. 916* = 13. 987 (Macquarie Financial Report, 2007) The Pay-out Ratio shows the amount of earnings paid out in dividends to shareholders. Investors can use the payout ratio to determine what companies are doing with their earnings. The payout ratio also indicates how well earnings support the dividend payments: the lower the ratio, the more secure the dividend because smaller dividends are easier to pay out than larger dividends. (Investopedia, 2007) Macquarie Bank (Payout Ratio) 2005 2006 2007 53. 20% 54. 40% 54. 30% As the ratios above show, there has been very slight fiction in the level of dividend payouts. There has been a 0. 0% decline in the ratio which could only mean, that investors are feeling secure with the payout of the company which in turn means the company has higher retained earnings in their balance sheet and are able to keep investor confidence. Other data from the financial report suggests a decline in the expense to income ratio, for every $A1 of income $A0. 732 goes into expense. This suggests that Macquarie is h andling its expense well and is confident enough to pay off their investors. Return on Equity is a ratio that captures profitability, efficiency and capital structure within an entity. Changes in the ratio will reflect the direction of an entity’s profitability, asset efficiency and capital structure. ROE for Macquarie Bank 2006 = Net profit/ Average equity x 100 ROE = 916 /5968 ROE =15. 34% ROE for Macquarie Bank 2007 = Net profit/ Average equity x 100 ROE = 1463 /7519 ROE = 19. 46% The ROE increased from 2006-2007. In 2006 an investment of one dollar of shareholders equity returned 15. 34 cents of earnings available for distribution to shareholders. In 2007 an equivalent dollar investment generated 19. 6 cents of earning available to distribute to the shareholders. A figure which depresses the return on equity is if the cost of debt exceeds the return on assets. The debt ratio indicates how many dollars of debt exists per dollar of assets. It shows the leverage between a company is debt financed or asset financed. Equity Ratio for Macquarie 2007 = total equity / total assets x 100 = 7519/ 136, 389 x 100 = 5. 56% est. 6% This shows that 6% of Macquarie†™s debt finances their assets. They are relatively debt financed. Another way to measure the company’s financial leverage is the debt to equity ratio. It is calculated by dividing  its total liabilities  by  stockholders' equity. It indicates what proportion of equity and debt the company is using to finance its assets. = 128,870 / 7519 = 17. 14 A high debt/equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense. If a lot of  debt is  used to finance increased  operations (high debt to equity), then Macquarie could potentially generate more earnings  than it would have without this  outside financing. If this were to increase earnings by a greater amount than the debt cost (interest), then the shareholders benefit as  more  earnings are being spread among the same amount of shareholders. However, the cost of this debt financing may  outweigh the return that  the company  generates on the debt through investment and business activities and become too much for the company to handle. This can lead to bankruptcy, which would leave shareholders with nothing. (Investopedia, 2007) Issue 1 Macquarie Bank users a decentralised management structure. This decentralisation refers to when decisions are made at different levels within an organisation (Hill et al, 2004, p273). Decentralisation Overview: Macquarie’s management and organisation structure is considered to be non-hierarchical. This means that the chain of command within the organisation is designed to be decentralised. This management approach allows the lower and mid-level managers within the seven divisions of Macquarie to make decisions on their own. Macquarie encourages their employees to gain a sense of ownership and to develop entrepreneurial skills in order to make strategic decisions (Macquarie Management, 2007). By giving the lower and mid-level managers the power to make decisions, it will reduce the bureaucratic cost to the company. In other words, delegating lower and mid-level managers’ decision-making responsibility, will lead to a reduction in upper level managers within the organisation. Furthermore, having a decentralised management structure will reduce information overload to the central management team, which will enable them to spend more time focussing on market and industry forces (Macquarie Management, 2007). A decentralised management structure may be good in order to keep costs down and provide central managers more time to make effective decisions; it may however cause further problems within the organisation. Problem 1: Communication & Coordination issues involving the Decentralisation Approach: The decentralised management theory states that lower bureaucratic costs will avoid communication and coordination problems within an organisation. This may be true in theory, however in reality it is not always the case. For example, the seven divisions of Macquarie are run and operated independently. All of the lower and mid-level managers of the organisation make their own decisions within each division. Since every division in Macquarie are related, it is surprising to see that they do not effectively communicate with each other because there is no level manager do so. In other words, there is no managerial network that integrates with each of the divisions. This could mean that information and other resources are not equally shared, which can lead to difficulties in creating value for the ompany. Problem 2: Leadership Issues using the Decentralised Management Approach: Another decentralised issue that could affect Macquarie is for when the organisation is facing periods of uncertainty. For instance, when the Macro-environment is volatile or unpredictable it is important for an organisation to show strong leadership. In these uncertain times it is important that leadership decisions are best given from higher-level managers. One of the issues concerned with Macquarie’s management structure is that leadership decisions do not come from lower or mid-level managers. In fact, decision-making made by an organisation’s division can be made to benefit them rather than to benefit an organisation as a whole. Therefore, this decentralised management approach may not be effective to face periods of uncertain times. Recommendations Macquarie decentralised management system is working well despite some of the issues facing the company. However, Macquarie Bank can benefit from using both a centralised and a decentralised management structure. A centralised management system is the complete opposite of decentralised management structure, where decisions are made by upper-level managers of the organisation (Hill et al, 2004, p273). The approach that Macquarie should take is to find a balance between a centralised and decentralised management regime. For instance, issues such as investing money into infrastructure should be done using a centralised approach and consequently issues dealing with recruitment and training should be done through decentralisation. Archiving the balance between the two management structures will determine the success of Macquarie Bank. Additionally, Macquarie should add a managerial network that integrates with all of the divisions in order to improve communication and resource sharing to create value for the organisation. However, it is important to note that as the company expands the decentralised approach may become less effective due to rising bureaucratic costs. Justifying the Recommendations: The real question that must be put forward to Macquarie is that can they continue to grow under a decentralised management regime? This is a key issue regarding the organisation structure for Macquarie Bank. As the Macquarie organisation expands, many critics argue that sustaining a decentralised management system in the long-term will fail. This is due to the fact that expanded business growth will not be able to maintain current hierarchical levels because it is too difficult, but more importantly it will lead to inefficiencies in managing the companies’ resources (Hill et al, 2004, p274). However to solve these issues, Macquarie can choose to divide the functional responsibilities up within the company across the same level, best known as ‘Horizontal Division of Work. ’ Using a functional structure in a horizontal framework will enable people with similar tasks be grouped together in order to increase productivity. This will reduce bureaucratic costs for an expanding business and increase operational flexibility. Therefore, Macquarie should consider a decentralized managerial approach in the short-run but in the long-run they may opted for a functional structure in order to reduce costs. Issue 2 Macquarie’s focus strategy to expand selectively, seeking only to enter markets where their particular skills and expertise, deliver real advantages to clients has served them well to this day, with expediential growth, it can have some implications. The main implications that can arise from this course of action and strategy are the limitations of the potentially profitable and growing markets that Macquarie could miss out on. This can lead to limited growth and a loss of market share if Macquarie continues this course of action to a stringent degree. It is near impossible to predict the trends to such an exact degree as too when to enter a market to obtain maximum growth, however, if there is the potential for that growth to occur, then the advantage can be taken by entering that market before this growth eventuates. However, by doing so creates risk. This risk is the gamble on predicting the success of the potential growth in the area. Although Macquarie does have a whole department dedicated to risk management, it still does not account for the ability of the environment to make unforeseeable changes. These environmental factors are out of the companies control, however, the company can anticipate an environmental change and implement a course of action to take in order to counter or profit from it. Therefore, Macquarie’s strategy of focusing on a select market to enter, although has helped them grow into a gigantic organisation, it could also be their downfall due to the potential growth they could miss out on by trying to minimise their risk. Problem 1: Market selection and alienation The way that Macquarie’s strategy focuses on expanding selectively to only enter markets where their particular skill are suited will cause these limitations in their possible future growth. This strategy can be seen as a focus strategy since Macquarie looks at targeting a particular market or customer segment; as stated in their original strategy, to expand selectively†¦where their skills and expertise deliver real advantages (Hill et al, 2004, p317). What a focus strategy entails is the focus on a niche market, which can be defined by, in Macquarie’s case, the type of customer and geographical region (Hill et al, 2004, p317). Although this strategy entails cost – control due to lower output levels to reach a scale of economy, Macquarie bank has grown so much that it does not have to take this part of the theory into too much account. Additionally, since Macquarie has created some unique attributes and competencies to its products and services accompanied by their high level of service quality it has given them a competitive edge by using this focus strategy. This has allowed Macquarie to charge higher rates which has aided them in reaching the scales of economy. However, the issue of a focus strategy, in Macquarie’s case, is that by minimising their risk by entering possibly slow growing economies can minimise their growth rate. This is due to the environmental and operational environment which they have no control over which can eventuate in that market to grow exponentially. Although this can be predicted, it cannot always be acted upon with enough haste to reap the maximum benefits. This leaves room for other competitors to move in and take advantage of this risk. Thus this strategy implemented by Macquarie can hold potential growth defects for them if they hold to this strategy too closely. Recommendation: To combat this market selectivity, Macquarie needs to manage change throughout the organization. The changes which it will introduce will establish a sense of urgency. Strategic leadership can assist in making that change happen within Macquarie Bank. Strategic leadership is the process of providing the direction and inspiration necessary to create, provide direction to, or sustain an organization or an organizational unit Dubrin et al, 2003, p400). An Innovative way to expand within the same banking industry and yet keeping the same image of Macquarie’s high scale markets is driving convergence which also helps redraw industry boundaries. Instead of competing with competitors, it can compete with its own financial advisory services. Another way to compete is imitation. Macquarie can benchmark their performance to other high scale ba nks globally and use two key components; strategic follower ship and learning by watching (Dubrin et al, 2003, p410). Justification for Recommendation Offering a higher quality than its competitors, can help combat markets selectively. Customer’s service, for banks is one of the ways total quality management, can be used. The variable which makes TQM possible is extensive employee involvement. Other hot topics are corporate social responsibility, it is a well-researched field of management and it provides guidelines for leaders about how to be more accountable to a new global economy. After the advents of Enron, topics of CSR and Corporate governance have emerged as ways to prevent people working in highly funded projects to have some form of transparency within the system. Macquarie which is Australia top investment bank should undertake such a role as they are leaders in the industry. Conclusion to Macquarie Banks strategic approach In summary, we have gone through a historical overview of Macquarie Bank and have come up with the expected result from this power house institution. Macquarie bank is an institution known for its complex ways of handling its organization, critics say it is like ‘wrestling in the dark with a ghost’ (Schwab, A; 2007). After evaluation of strategies we realize that Macquarie is a bank which provides prestige for Australia and has a high reputation in the minds of many. References Australian Bankers Association, (2007), ‘The Australian Bankers’ Association’s role,’ (online) http://www. bankers. asn. au/default. aspx? FolderID=2 (Accessed 13th September 2007) Australia Competition and Consumer Commission, (2007), ‘Role and Activities,’ (online) http://www. accc. gov. au/content/index. phtml/itemId/54137/fromItemId/3744 (Accessed 13th September 2007) Australia’s Free Trade Agreement, (2007), ‘Benefits of Free Trade Agreements for Australia,’ (online) http://www. fta. gov. au/default. aspx? FolderID=239=187 (Accessed 13th September 2007) Australia Prudential Regulation Authority, (2007), ‘Streamlined data collection for life companies and friendly societies,’ (online) http://www. apra. gov. au/media-releases/07_15. cfm (Accessed 13th September 2007) Australian Securities and Investment Commission, (2007), ‘ASIC at a Glance,’ (online) http://www. asic. gov. au/asic/ASIC. NSF/byHeadline/ASIC%20at%20a%20glance (Accessed 13th September 2007) Bendigo Bank, (2007), ‘Corporate Governance,’ (online) http://www. bendigobank. com. au/public/about_us/corporate_governance/corporate_governance. asp (Accessed 13th September 2007) Chen, T, (1999), Critical Success Factors for Various Strategies in the Banking Industry, vol 17 issue 2/3. Commonwealth Bank, (2007), ‘Company Profile,’ (online) http://about. commbank. com. au/group_display/0,1922,CH2047,00. html (Accessed 13th September 2007) Dubrin, Dalglish Miller, (2003), Leadership, 2nd edition, John Wiley and Sons, Australia Hill, Jones, Galvin, Haidar, (2004), Strategic Management: An Integrated Approach 2nd edition, John Wiley and Sons, Australia Investopedia, (2007), ‘Debt-Equity Ratio,’ (online) http://www. investopedia. com/terms/d/debtequityratio. asp (Accessed 17th September 2007) Macquarie Bank, (2007), ‘About Macquarie Bank,’ (online) http://www. macquarie. com. au/au/about_macquarie/index. html (Accessed 10th September 2007) Macquarie Bank, (2007), ‘Corporate Governance,’ (online) http://www. macquarie. com. au/au/about_macquarie/corporate_governance. htm (Accessed 8th September 2007) Macquarie Bank, (2007), ‘Financial Report 2007,’ (online) http://www. macquarie. com. au/au/about_macquarie/acrobat/financialreport2007. pdf (Accessed 11th September 2007) Macquarie Bank, (2007), ‘History of Macquarie Bank,’ (online) http://www. macquarie. com. au/au/about_macquarie/company_profile/history. tm (Accessed 10th September 2007) Macquarie Bank, (2007), ‘Macquarie Bank 2007 Annual review,’ (online) http://www. macquarie. com. au/au/about_macquarie/acrobat/annualreview2007. pdf (Accessed 11th September 2007) Macquarie Bank, (2007), ‘Macquarie Bank announces 60% increase in profit and 47% increase in dividends per share,’ (online) http://www. macquarie. com. au/au/about_macquarie/media_centre/200705015a. htm (Accessed 17th September 2007) Macquarie Bank, (2007), ‘Major Seven Major Business Groups,’ (online) http://www. macquarie. com. au/au/about_macquarie/company_profile/mgmt_organisation/six_groups. tm (Accessed 11th September 2007) Macquarie Bank, (2007), ‘Management and Organisation Structure,’ (online) http://www. macquarie. com. au/au/about_macquarie/company_profile/mgmt_organisation. htm (Accessed 16th September 2007) Reserve Bank of Australia, (2007), ‘Structure and Functions of the RBA,’ (online) http://www. rba. gov. au/ActionPlan/index. html (Accessed 13th September 2007) Appendices Appendix 1 Focussed product differentiation A key element that has helped Macquarie differentiate its services from their competitors is how they have selected their market segments; however, this will be discussed in the next section. The reason they have a distinctive service differentiation from their competitors can be based on their values that they hold within the company. These values are; high ethical and professional standards, commitment to clients and growth, motivating and retaining quality staff, creating aligned staff and shareholder rewards and stringent reporting to create a high level of accountability (Macquarie, 2007) Focussed market segmentation Macquarie’s focussed market segmentation plan is to target a preferred demographical segment. They target the areas where they can best maximize their business as well as service their customers to the expectations that customers would hold from this prestigious company. They have a large commitment to the people they service as well as constant improvement to deliver higher standards of services and products to those people. As mentioned earlier, they expand selectively, seeking only to enter markets where Macquarie’s particular skills and expertise deliver real advantage to clients Focussed distinctive competency Another factor that has given Macquarie its strategic advantage would be

New Weapons that Changed the Way of the Samurai

New weapons that changed the way of the samurai A Samurai Sword symbolizes and means the Samurai's prestige and his skills in battle. It is a measure of his stature in society. To all samurai it’s their prize possession and it is worn proudly by its master – until the teppo was introduced. The samurai considered it as dishonorable to tradition. This changed the way samurai fight and changed their view to samurai swords. The teppo is an example of a weapon that changed the way of samurai – it was introduced in the 16 century in Japan through Portuguese trade.They were easy to use and deadly. The teppo were produced on a large scale by Japanese gunsmiths since introduced. By the end of the 16th century, there were more firearms any European nation. [pic] (†¦picture of the traditional weapons used by the samurai before guns were introduced†¦) The Battle of Nagashino is a great example of a turning point between swords and guns. Oda Nobunaga made deadly use of the teppo at the Battle of Nagashino in 1575, leading to the end of the famous Takeda clan. Guns can wipe out a whole clan in just one battle. It was considered very deadly.In the movie ‘The Last Samurai’ it strongly relates to the concept of guns taking over traditional samurai swords and guns destroying loyal samurai clans. The film's plot is loosely based on the 1877 Satsuma Rebellion led by Saigo Takamori, and also on the story of Jules Brunet, a French army captain who fought alongside Enomoto Takeaki in the Boshin War. It also gives an enhanced and better understanding of how these weapons can be deadly to the traditions of the samurai and the changes that are happening when these weapons are introduced. Introducing these weapons to the samurai was a mistake that the Portuguese made.The samurai would have been better without the guns and weapons that were introduced by foreigners. Samurai teachings can still be found today in modern day society with the martia l art Kendo, meaning the way of the sword. Samurai Raid a Japanese  Village The lonely village on the Far East side of Japan encountered a group of vicious samurai last week that attacked the tiny village. Many possessions have been stolen from these poor villagers. These villagers were brutally beaten with a bamboo sticks in order to entertain these vicious fighters. They were left with bruises, body aches and pains.The villagers are furious and wish for revenge on these fighters. [pic] (†¦A picture drawn by one of the local villagers on what they saw and suffered in the raid†¦ ) The Chief of the village has announced a public meeting with the local villagers to discuss the actions that need to be taken in order to receive revenge on the people that brought terror and pain in the incident that has occurred last week. We interviewed one of the local villagers – he said he lost all his gold plates that were passed down from past generations and were meant to be pas t down to future generations – he cannot fulfil his ancestors wishes.He is very disappointed and angry for his loss. The villagers suffered a great loss. They have little left, not even enough to feed a family for more than one week. The villagers were suffering with food loss before the raid but now they have to suffer even more. Fake samurai swords are being sold to the public.. Beware Yesterday morning when merchants come and sell their goods a man in his late 20’s spotted samurai swords for sale. He asked the merchant the price of the swords. The merchant told the man he would sell the sword to the man for only ? 1,000.The man thought he was very lucky and immediately bought the sword. He took the sword home happily. [pic] (†¦the image of the sword the man bought for ? 1,000†¦) When he got home he realised the sword was a fake because it didn’t have the sharpness a true sword would have. He was very angry and decided to go and confront the merchant . When he arrived at the same place he got the sword, the merchant was nowhere to be seen. The man was very disappointed that he wasted ? 1,000 on a fake sword. He notified the local guards – they are still searching for the merchant.The Merchant was wearing a blur robe, has a long black beard and a scar on his right cheek. If you think you have found the merchant please notify the local guard. Samurai to hold meeting for the production of fake samurai swords†¦ As you know about the article about a man buying a samurai sword the other day and found it was a fake. It has been announced by the chief samurai that there would be a meeting with all the daimyo’s and discuss the action that need to be taken to catch the merchant that was selling this illegal swords to poor villagers. We interviewed the man and he said ‘†¦I am so happy that the samurai are following this merchant that has taken my money in return of a piece of metal that is useless to me†¦ ‘ So please if you have any information on this suspicious merchant, please notify your local guard. Nitobe was not the first person to document Japanese chivalry in this way According to the Japanese dictionary Shogakukan Kokugo Daijiten, â€Å"Bushido is defined as a unique philosophy (ronri) that spread through the warrior class from the Muromachi (chusei) period. † In Bushido: The Soul of Japan (1899), author Nitobe Inazo wrote: â€Å"†¦Bushido, then, is the code of moral principles which the samurai were required or instructed to observe†¦ More frequently it is a code unuttered and unwritten†¦ It was an organic growth of decades and centuries of military career. † According to the editors of Monumenta Nipponica, â€Å"Tens of thousands of documents survive from the medieval period†¦ Only a few have been translated into English, or are likely ever to appear in translation. † One of the oldest English-language academic journals in t he field of Asian studies, much of Dr.Steenstrup's significant findings were written for Monumenta Nipponica. In his text Feudal and Modern Japan (1896) Historian Arthur May Knapp wrote: â€Å"The samurai of thirty years ago had behind him a thousand years of training in the law of honor, obedience, duty, and self-sacrifice†¦.. It was not needed to create or establish them. As a child he had but to be instructed, as indeed he was from his earliest years, in the etiquette of self-immolation. The fine instinct of honor demanding it was in the very blood†¦ † Translation of documents related to bushido began in the 1970s with Dr.Carl Steenstrup, who performed a lifetime of research into the ethical codes of famous Samurai clans including Hojo Soun and Imagawa Ryoshun. Steenstrup's 1977 dissertation at Harvard University was entitled â€Å"Hojo Shigetoki (1198–1261) and his Role in the History of Political and Ethical Ideas in Japan†. The stylings of bushid o have existed in the Japanese literature from the earliest recorded literary history of Japan predating the introduction of Confucian ethic from China. The Kojiki is Japan's oldest extant book.Written in AD 712, it contains passages about Yamato Takeru, the son of the Emperor Keiko. It provides an early indication of the values and literary self-image of the Bushido ideal, including references to the use and admiration of the sword by Japanese warriors. Yamato Takeru may be considered the rough ideal of the Japanese warrior to come. He is sincere and loyal, slicing up his father's enemies â€Å"like melons†, full willing to combat the enemy single-handed, unbending and yet not unfeeling, as can be seen in his laments for lost wives and homeland.Most importantly, his portrayal in the Kojiki embodies an early example of the appeal of the warrior-poet. Published by Sephora Hidalgo and Maranie Ing BUSHIDO From the Bushido literature of the 13th to 16th Centuries, there exists an abundance of literary references to the ideals of Bushido. In his 1979 Dissertation, Dr Carl Steenstrup noted that 13th and 14th century writings (gunki) â€Å"portrayed the bushi in their natural element, war, eulogizing such virtues as reckless bravery, fierce family pride, and selfless, at times senseless devotion of master and man. Compiled in 1371, the Heike Monogatari chronicles the struggle between the Minamoto and Taira clans for control of Japan at the end of the 12th century—a conflict known as the Gempei War. Clearly depicted throughout the Heike Monogatari is the ideal of the cultivated warrior. The warriors in the Heike Monogatari served as models for the educated warriors of later generations, and the ideals depicted by them were not assumed to be beyond reach. Rather, these ideals were vigorously pursued in the upper echelons of warrior society and recommended as the proper form of the Japanese man of arms.By the time of Imagawa Ryoshun's Regulations at the b eginning of the 15th century, the bushido ideal was fairly clear, and the term itself came into widespread use. As illustrated by these various writings and house codes, bushido already encompasses loyalty to one's master, filial piety, and reverence to the Emperor. Bushido includes compassion for those of lower station, and for the preservation of one's name. Early bushido literature further enforces the requirement to conduct oneself with calmness, fairness, justice, and propriety.The relationship between learning and the way of the warrior is clearly articulated, one being a natural partner to the other. Finding a proper death in battle, for the cause of one's lord, also features strongly at this point in history. [pic]Japanese samurai in Armour,1860s. Photograph by Felice Beato ———————– Kendo lessons from ages 6 to 16 First 3 lessons free go to www. kendolessons. com phone master Shitzo and Yoda for more info: 100 200 300 I t starts at 6:00pm to 8:00pm with Master Shitzo private and non private with Master Yoda at the morning 8am to noon free food as well. [pic]Uniforms are provided when enrolled into course New weapon factory sale [pic] 28/29 Convict ST Liverfarm. Close to Toshiba’s land Call Rambo at 1234566787 for more information on the weapons available or about the factory Quick before it’s too late†¦. Join and experience war Join the army and get new swords and armour. Join now at the Red Cross tent in the middle of the field at Toshiba land. [pic] Contact Chief Yuki Monish at sunrise and sunset: 174635 26337 or at www. joinsamuraiarmy. com

The Rebellions Of Upper And Lower Canada

The Rebellions of 1837 began after Papineau's rights were denied by the governor to 92 resolutions of reform. Papineau had thought it was important that the people of Lower Canada should have a more suitable government, rather than the small oligarchy. After his rights were denied he led the Patriots against the Oligarchy gov't. His attempt for reform through rebellion was unsuccessful however; it sparked the idea of rebellion of W. Mackenzie in Upper Canada. Mackenzie started his rebellion in a tavern/ bar fight. The Upper Canada Rebellion also ended quite unsuccessful.After the rebellions, Both Papineau and McKenzie fled to the United States, leaving their follower rebels to face their punishments. As a result, the rebels would either have a death penalty or be transported to Bermuda/ Australia for 7 years. The lower Canadian rebels would have their crops and fields burned. William Lyon Mackenzie was a fiery and vocal critic of the Upper Canadian system in the 1820's and 30's. His temperament and conviction led him to the point where he not only advocated armed rebellion against the colonial government but led it.He was born in Dundee Scotland on March 12, 1795 and immigrated to Canada in 1820 where he began writing for the Montreal Herald after a stint of manual labour building the Lachine Canal. In May of 1824 he decide that he could run a newspaper and started the Colonial Advocate, in Queenstown, which was a newspaper which served as an opposition position to the group known as the family compact who were firmly in power in Upper Canada. He moved to Toronto and continued his attacks on the lack of responsible government and the family compact's corrupt and self-serving record.He quickly became a folk hero among the common man in Upper Canada who generally felt that he was right about the family compact and that something should be done. Not satisfied with just writing about the government, he ran for office in 1828 and was elected to the House of assembly for York County. 1829 was a critical year in his political development when he visited the United States and while in Washington he visited and had a meeting with the U. S. President Andrew Jackson.He left this meeting feeling that his criticisms of the Upper Canadian political elite were justified and that a republican government was perhaps the only real answer to achieving political and social reform at home. In 1832 he travelled to London to make a persona appeal to the British Government concerning the grievous state of affairs in Upper Canada and was received with courtesy and a genuine sympathy. His aggressive and direct attacks upon the Family Compact brought an immediate response with threats of legal action, libel suits and an attack upon his newspaper office where his printing presses were broken and thrown into Lake Ontario.He was continually re-elected to the legislative assembly and in 1834 when Toronto elected its first mayor, Mackenzie was their choice. The compact mounted a strong campaign against him in the 1836 legislative election and he was defeated. Mackenzie began to believe that power and money could not be defeated by the â€Å"fixed† electoral system in Upper Canada and regardless of who was elected to the legislature; they held no real power anyway. By December of 1837 his high opinion of the American Republic was leading him to believe that the American Revolution might be the only practical example of how change might be effected in Upper Canada.On December 6, 1837 Mackenzie had gathered a group of reformers who were worked into frenzy and decided to march on Toronto. They came streaming down Young Street looking to destroy compact property and business as an act of defiance and potentially trigger a large scale rebellion. When they came up against the local guards they first group of reforms fired their weapons and because they were in a position that did not allow movement to the sides, lay down so the rebels behind them could fire next.The men in the back thought that the men in the front were all being shot and killed and panicked and started to run. Within a few moments the panic had spread and the reforms fled back up Young Street to Montgomery's Tavern. On December 7th the government forces had recovered and were organized enough to mount an expedition to the Tavern where they easily routed Mackenzie and his men. Mackenzie was forced to flee to the U. S. and tried to mount a comeback but was Canadian Militia thwarted these attempts.Although he failed in his attempt to start a revolution in the colony, the results were to stun the British Government who were finally moved to action and is dispatched a representative to the Canada's to look into all of the issues. Mackenzie spent 10 years in exile in the United States, one of which was in prison, and only returned to Canada in 1849 when he was granted a pardon. He quickly resumed his political career as MLA for Haldimand but by this time reform h ad been initiated and government had become responsible and much more representative.He finally retired in 1857 and resigned his seat in 1858 after seeing many of the goals he had worked for either achieved or within reach of being achieved. By the 1830s the frustrations that had been building up in Lower Canada (the former New France, the former Canada, and the future Quebec) since the defeat of 1759 had reached a boiling point. In 1832 the elections held at Montreal’s Place des Armes resulted in the deaths of three members of the largely French- and Irish immigrant supported Patriot Party. These reformists were opposed by the pro-British forces, the English colonial authorities and their strong-arm men of the Doric Club.The Patriots, led by Louis-Joseph Papineau, opposed the British colonialists and had been calling for an American-style democracy. Two Patriot journalists, the Irishman Daniel Tracey and French-Canadian Ludger Duvernay had even been arrested for writing in t he local press articles that said that â€Å"it is certain that before long all of America must be republican. † The Patriots, after several years of agitation for an elective Legislative Assembly and increased local powers, in 1834 addressed London directly with their 92 Resolutions, the key points of which seem fairly modest: the elected Assembly and control of the budget.The elections of that year were a triumph for the Patriots, and the English party began a campaign of threats to keep the French population in place. It took three years for the British government to respond to the 92 resolutions, and when they did — with the so-called 10 resolutions — it was a stinging rejection of the Canadian demands. Demonstrations were held throughout the province, culminating in October 1837 in the Assembly of the Six Counties in Saint-Charles-sur-Richelieu, north of Montreal.At the assembly, Papineau, more than ever the leader of the Canadian people, delivered a speech calling for people â€Å"of whatever origin, language or religion† to organize themselves, and elect their own judges and militia officers in opposition to the English. Papineau did not call for open revolt, though others, like the Anglo-Canadian Dr. Wolfred Nelson, said that the â€Å"time has come to melt our plates and our tin spoons to make bullets. † Finally, on November 23, 1837 armed rebellion began, when Patriot troops led by Wolfred Nelson defeated British troops in the Richelieu valley town of Saint-Denis.Though the number killed on each side was equal, the strength and tenacity of the Patriot forces shook the British, and they retreated from the battlefield. The leader of the Patriots, Papineau, was not in the town. In an incident that is still controversial, he had left the area, some saying for the good of the cause (as he'd be able to serve it in the future), while others accused him of cowardice. The second battle, at Saint-Charles-sur-Richelieu, result ed in a crushing defeat for the Patriots. This time the British were ready for a tough fight, and the Royal Scots attacked the Patriot positions in force, killing 150 and losing only three.Though at this point many of the principal Patriot leaders fled Canada for exile in the US, the resistance to the British was not yet over. The British commander, Sir John Colborne, himself led the attack on Saint-Eustache, just northwest of Montreal. The arrival of 1500 enemy troops drove many of the Patriots to flee, but others decided to fight it out to the end. Barricaded in the town church they were bombarded for hours, a cannonade in which the local priest participated. All hope lost, the Patriots attempted to escape, but were gunned down. Again the casualties tell the tale: 66 Patriots killed, three British.Enraged by the persistence of the rebellion the British troops went on a rampage, burning and pillaging rebellious villages. Papineau, from his American exile, remained optimistic: †Å"I sometimes believe, despite the immense disasters we've already suffered, that Providence will bring about the day when we will be employed in freeing our unfortunate country. † And in fact the rebellion was not yet over. From their exile just across the border in Upstate New York, the Patriots formed a secret group, the Frà ¨res Chasseurs, and, in 1838, plotted to set off a wider rebellion.This time they clearly called for a republic, and issued a Declaration of Independence, written by Dr. Wolfred Nelson’s brother, Robert. Poorly organized, the troops gathered on the night of November 3 to await the orders of their leaders. Hearing nothing, the troops dispersed. Robert Nelson hadn’t yet given up, and on November 9, after a failed attempt to seize arms, he led a diminished force against militia troops in Odell town. Seeing that defeat was inevitable, Nelson fled the scene for the US and, with this; the Patriots Rebellion came to an end.This time the repressi on was even fiercer: the British troops burned everything in their path in the region south of Montreal, and arrested hundreds of rebels for treason. Many were jailed, others sent to the penal colony in Australia, and seventeen were hung for their role in the uprising. Papineau was to later to return to Canada, and in 1867 Lower Canada joined the Canadian Confederation as Quebec. By 1839, the rebellions were over but Upper and Lower Canada were plunged into a period of despair and bitterness.More than two hundred Patriots and Upper Canadian rebels had died on the battlefield while others had been hanged or sent into exile. The forces of reform were decisively defeated and the economy took a turn for the worse. Poor harvests reduced numerous many farmers to poverty. Upon his return to London in 1838, John George Lambton, the Earl of Durham tabled his report, which outlined the conclusions he had drawn during his stay in the British colonies of North America. Lord Durham paid particul ar attention to the relations between the English and the â€Å"Canadians† of Lower Canada.In his opinion, it was necessary to give the elected assembly more power. He proposed that the Governor choose his advisers – in effect, his cabinet – from among men who enjoyed the confidence of the Assembly. In this respect, Durham seemed to agree with the reformists Louis-Joseph Papineau, of Lower Canada, William Lyon Mackenzie, of Upper Canada and Joseph Howe, in Nova Scotia. Durham realized there was another, more serious problem, in the case of Lower Canada. To solve the problem, Durham proposed to unite Upper and Lower Canada, as the English party had previously suggested.By uniting the two Canada’s, the English would become dominant and the French Canadians would become a minority. He thought that French Canadians, whom he described as a people â€Å"without history and without literature†, would gradually abandon their identity. Despite Lord Durham's recommendations, the British government refused to give the colonists more power. The British ministers worried that colonial autonomy would lead to the disintegration of the British Empire. Nevertheless, the uniting of the two Canada’s was an opportunity to solve the French problem once and for all.In Halifax in 1840, Joseph Howe, who had been a member of the Assembly for four years, was in favour of Lord Durham's reforms and wrote to the British Colonial Minister in London to support them. Howe was deeply disappointed when the government refused to reform the colonial parliamentary system. The Family Compact's power was greatly increased by the Upper Canada rebellion and the fear it generated. This effect was temporary as moderates soon rose to prominence. The Durham Report was greeted with enthusiasm by reformers, although its recommendations for responsible government were not put into effect until 1848.

Architecture, Women and History in Saudi Arabia Essay

Architecture, Women and History in Saudi Arabia - Essay Example The Kingdom Centre is the property of Alwaleed bin Talal bin Abdulaziz Al Saud, a prince of the Saudi royal family. Kingdom Centre is situated in Al-Urubah Road between King Fahd Road and Olaya Street in the growing business district of Olaya in Riyadh. In 2002 Kingdom Centre won the Emporis Skyscraper Award and was selected as the "best new skyscraper of the year for design and functionality. The three-level shopping center, which also won a major design award, fills the east wing. The large opening is illuminated at night in continuously changes colors. Besides the shopping mall, the Centre also includes a Four Seasons Hotel and state-of-the-art apartments. The ellipse motif taken from the tower's footprint appears in the light fixtures, ceiling panels, entrance canopy, wastebaskets, and furniture. The Shopping Mall contains 161 prestigious stores. The Al Faisaliyah Center was the first skyscraper constructed in Saudi Arabia, and the second tallest building in the country after the Al-Mamlakah . The golden ball constructed atop the tower is said to be inspired by a ballpoint pen. Inside the ball is a restaurant; at ground level, a shopping center with major world brands. This research project aims to put into context the role of women in Saudi and relating it to general history of the female of the west. Perceiving modern Saudi Arabian architecture and the significance of our visual perception to gender codification is what this historical project attempts to analyse. As gathered by word of the mouth, visual reception of the external shape or architecture of the two building is perceived publicly as food items, namely, a bottle opener and a toothpick. Public opinion as defined by Hegel is: "The formal subjective freedom of individuals consists in their having and expressing their private judgments, opinions, and recommendations on affairs of the state. This freedom is collectively manifested as what is called "public opinion," in which what is absolutely universal, the substantive and the true, is linked with its opposite, the purely particular and private opinions of the Many. Public opinion as it exists is thus a standing self-contradiction, knowledge is thus as appearances, the essential just as directly present as the inessential" 1 Pubic opinion, inspite of being inessential and self-contradictory, is of cultural significance. This expression which presents the essential and the rational reflects a genuine need for correct tendencies in common life in a form of common sense (Hegel: 1952:104). In this context, the sign signifying and pointing to the signified is an indication of a primary concern and at the same time leaves a lot to imagination. In his argument, Hegel also points to the origin of the human desires of enslaving as primarily due to the need for food and sex. In this primary culture one of the Hegelian parameters has dominated the perception of the two buildings. The other parameter is the object of this study. What is the importance of the other Hegelian parameter of desire in reference to this project The role of the feminine is an indication

Analysis Paper 2 Essay Example | Topics and Well Written Essays - 1000 words

Analysis Paper 2 - Essay Example The offstage presence of human society in the poem is an unavoidable reality because the speaker himself belongs to it. The speaker belongs to a society which necessarily requires him to be dutiful and responsible. In fact he has duties and responsibilities to himself and to others. But at the same time, he is also a freewill agent who can choose to shun these duties. Since he is a human being, he can easily be tempted to walk along the evil as well as unconventional path. While walking through the woods, he temporarily becomes tempted by its wildness. This wildness of the woods symbolizes something which is wild, unconventional and evil, and which is not accredited by the society. But though he is temporarily distracted by the wilderness, he finally chooses to perform his social duties and responsibilities. Indeed, the poem is endowed with two levels of meanings: literal meaning and metaphorical meaning. Though literally the poem captures some moments of a horse-ride of the speaker, metaphorically it refers to a man’s prioritization on social responsibilities over the call of the wild. On the surface level, the speaker of the poem says that in a darkest evening of the year he stopped by woods, while travelling to his destiny. He stopped by it because he is attracted by the lovely and mysterious scene of the woods. He watches the â€Å"woods filled up with snow† (Frost Stanza 1). ... In his own words, My little horse must think it queer To stop without a farmhouse near Between the woods and frozen lake The darkest evening of the year† (Frost Stanza 2). In the very beginning of the poem, the speaker provides a sense of remoteness from human society and civilization through the lines, â€Å"Whose woods these are I think I know/His house is in the village, though† (Frost Stanza 1). Here, the imagery of ‘village’ refers to the speaker’s attachment to human society. Though he is amid the wilderness of the woods, he is the representative of the society which he belongs to. The remoteness of the speaker from social bindings is further reinforced when he tells that the owner of the woods â€Å"will not see [him] stopping [there]† (Frost Stanza 1). It means, he is far from the society up to his own will. He is a human being; therefore, he is a freewill agent unlike his little horse who must think his master’s stopping queer w ithout a ‘farmhouse’. Here, the imagery of ‘farmhouse’ also symbolizes the comfort which social life can provide to a man. But since the speaker is a freewill agent, he is easily tempted to revel in the mysterious and lovely wilderness of the woods. While his horse thinks it queer to stop by the woods, he thinks that â€Å"The woods are lovely, dark, and deep† (Frost Stanza 4). The contrast between his reaction and his horse’s reaction to the scenery of the forest rather highlights his existence as a freewill agent. If he wants, he can elongate his stay in the woods. Even he can respond to the call of the wild. He can revel in the joy of exploring the mysterious, unknown and the wild. But he

Homeland Security - Predaredness & Prevention Assignment - 4

Homeland Security - Predaredness & Prevention - Assignment Example Such trainings/exercises are significant to attain a collective goal or objective since it provides opportunity to identify areas of strengths and weaknesses that can be corrected before an actual incident of the same kind occurs (US Department of Homeland Security, n.d.) These exercises or training will enhance preparedness in all first responders who in any situation will normally commence on the same footing, hence making them aware on how to respond effectively to small, medium and large-scale emergencies (US Department of Homeland Security, n.d.). Equally crucial to first responders is being provided with reliable information or data regarding a certain emergency or mishap. This being the case a solid and dependable system of information from all credible sources is needed to determine the actions that must be taken. This entails having a common and ultimate goal for all the responders so a consistent and unbiased approach is drawn from technical and other collection efforts (Th e Provisions of Executive Order 12333, 1981); which will however require all heads of the executive branch departments and agencies to submit timely responsive information necessary to effect programming and budgeting that will sustain the flow of reliable information for appropriate action implementation (The Provisions of Executive Order 12333, 1981). The Provisions of Executive Order 12333. (1981, December 4). Executive Order 12333 – United States Intelligence Activities. Retrieved from

Law of Tort Essay Example | Topics and Well Written Essays - 2750 words

Law of Tort - Essay Example Carroll, v Fearon D , negligently manufactured a tire that led to a fatal accident on a motorway owing to its disintegration. This case did not attribute any specific negligent act to the manufacturer. Therefore, the judge held that either there was no requirement to specify the particular persons responsible for the defects, or the particular negligent act or omission. The disintegration of the tire accrued owing to the fault committed during the manufacturing process. In this case, the manufacturer was in confusion to explain how the fault connected to negligence. The duty of the judge is to identify negligent act . Negligence is the act of an individual to exercise due care. An act is negligent if the wrongdoer knew foresaw the outcome of the act one is negligent if the action done ought to take all reasonable foreseeable measures to ensure that the other party by his omissions or deeds is not injured by his omissions or deeds. In Heaven v Pender the defendant was negligent by not ensuring that the ropes in good condition before using them to hold the dock. Duty of care means the conditions, which give rise to an obligation to take care. Duty of care is the obligation to ensure that damage is not caused by observing due care . Duty of care exists where a person reasonably might suffer an injury, damage, or loss because of another person’s actions and the other person owes the first duty of care. There are two forms of duty of care, duty recognized by law and duty brought about by the circumstances. Where law has not provided for the duty of care, the test of the foreseeable plaintiff applies; the duty is not owed to the world at large, but just to a person within the extent of the harm created, that has been for the foreseeable victim5. The duty of care serves two purposes the first is to provide a framework for various situations in which liability may arise. It assists in showing where an individual is liable to another or owes the other a duty. The other purpose is to limit claims related to the negligence of a party; it sets the boundaries from which a party could claim due to negligence. One is supposed to observe standard care in order to ensure that they do not breach the duty of care. The only way a plaintiff can succeed in any action is by establishing a duty of care. Actions cannot withhold where no duty is established. In Gates v Mckema D6, a stage hypnotist caused psychiatric damage to a volunteer from the audience. Held the level of precaution expected should be that of a reasonably careful exponent of stage hypnotism-factor to consider-standard of care skill required. Standard care in this case is the care an individual is supposed to observe in order to ensure others are not injured or suffers losses. In Marshall v Osmond7, D while in pursuit of an escaping criminal, slammed on to the car crashing it. The presiding judge interpreted that the duty of care by the police officer was the same as that owed by any other . The duty to exhibit such care and skill was reasonable since the accident was unavoidable. He also ruled that, driving alongside another car in the police attempt to make an arrest was erroneous. This is because his judgment in the case did not amount to negligence. The factors that affect the duty of care are the balance of the involved dangers and the

Climate change effects Essay Example | Topics and Well Written Essays - 2500 words

Climate change effects - Essay Example P.S. Two of the studies have been carried out and findings under such are communicated this is done to give deep insight in to the relationship of ocean and atmosphere and how such interactions affectsin light of the questions given below Ocean circulation often called oceanography is a system of movement of the surface water between the oceans, caused by the wind, temperature or the salinity. (Science Dictionary) An ocean covers almost more than two thirds of our clear blue planet. The waters move in the global circulation system, driven by a subtle density difference and transporting then huge amounts of heat. The ocean circulation is therefore an active and highly non-linear player in this global climate game. Increasingly there is the clear evidence implicates that ocean circulation in abrupt and the dramatic climate shifts, such as uncertain temperature changes in Greenland on the order of the 5–10  °C and massive surges of the icebergs into North Atlantic Ocean — events that have occurred more often during the last glacial cycle. Oceans and our atmosphere constantly interact with one another, especially in transferring the energy; for instance, evaporation from warmer oceans removes the latent heat from atmosphere as it introduces water vapor, and the condensation of this vapor at height releases latent heat. Additionally, the surface winds drive the oceanic currents, moving warmer water pole-wards and cold water equator-wards. Since conditions in atmosphere changes much more rapidly than in oceanic, the atmosphere and oceans change continuously, in response to one another. Ocean-atmosphere oscillations are the ocean-atmosphere interaction responses which switch suddenly from one of the phases to another. Currently, the five major ocean atmosphere oscillations have been recognized: the Pacific Decadal, the El Nià ±o-Southern, the North Atlantic, the Arctic, and the Antarctic Polar Wave. Each of such

Obesity and its many health concerns Research Paper

Obesity and its many health concerns - Research Paper Example This was owing to the alarming increase in the number of people suffering from this problem as well as the serious health risks that an individual is exposed to owing to this health condition. Obesity is a life hampering condition which tends to affect the living of an individual and this issue needs to be dealt with in the best possible manner to control the rise in the number of people suffering from this problem (McCambridge 2006). . The statistics of obesity have been increasing at a very fast pace in the United States of America. The situation has become very grave owing to the fact that it has been analyzed that United States has the highest rates of obesity in comparison to the other countries across the globe. In the year 2010, it was seen that one out of every five people in the United States suffered from the problem of increased weight. This showed a substantial increase in comparison to the year 1991 when one out of every eight individuals had weight above the normal limi ts. Furthermore, it has been highlighted that the rate of obesity has increased by more than three times in comparison to the year 1961. Dr. ... According to the similar report the number of adults who have weight above normal limits and are obese ranges to about 130 million (Bass III 2011; Huber 2010; McCambridge 2006). It has been highlighted that obesity is a pathological condition that poses many risks for the human health. The Department of Health and Human Services indicated the fact that the obese individuals laid a greater burden on the healthcare system of the country and hundred billion dollars have to be diverted every year towards the healthcare costs on the obese individuals. It has also been analyzed that obesity related pathologies are responsible for the death of 300,000 people in the United States (Bass III 2011; Huber 2010). The Centers for Disease Control and Prevention have set standards to check for the individuals who suffer from obesity. The Body Mass Index is the widely used calculation for checking obesity. This index utilizes the height and the weight of the person to calculate the results of the amo unt of fat present in a person’s body. The result is compared with a standard chart which has the different BMI values according to the sex and the age of the individuals. This indicates the fact that the BMI values differ from one person to owing to different BMI values for different ages and sexes. The CDC has laid guidelines that all individuals who have a BMI ranging from 25 to 29.9 suffer from increased weight and those individuals who have a BMI above 30 suffer from obesity (Bass III 2011; McCambridge 2006). There has been great emphasis laid upon childhood obesity and obesity amongst the younger age groups. This is owing to the fact that forty percent of

Obesity Essay Example | Topics and Well Written Essays - 1250 words - 1

Obesity - Essay Example A Health Survey in England showed that 24.5% of adolescents above the age of 15 were suffering from obesity. It also showed that 13.9% of the children between the age group of 2 and 10 years were suffering from obesity (Department of Health 2009). Similarly other researches show that the rate of obesity in UK has increased to 22.1% in males and 21.9% in females (Information Center 2006). Obesity is defined as â€Å"an excess of body fat accumulation or adiposity with multiple organ specific adaptive or maladaptive consequences† (Iacobellis 2009). Causes: Obesity can be caused by both genetical and environmental factors. Genetical factors relate to the genes of the human body and any mutation in them. In human beings there is a gene known as the Ob gene. This gene is responsible for the risk of obesity in many individuals. Any change in the gene leads to obesity in the general population. The gene is related to a hormone known as leptin in the body. Leptin is a hormone or trans mitter which helps in conveying specific signals to the brain. The body fat has to be maintained by this hormone as it sends signals to the brain to regulate the metabolism of fat (NCBI 1998). Other than the genetic factors the disease also occurs because of the environmental factors involved. ... Increased fat in the diet is a reason because of which people get obese. Obesity has also been known to be related to psychological pathologies. Depression and eating disorders such as binge eating increases the level of stress individuals. Obesity itself causes a person to face from several psychological disorders too. These include the lowered self confidence of an individual along with less motivation to carry out specific tasks (Biddle et al 2009). Effects: The effects of obesity are spread all over the body and can result in several health conditions. It is a pathological state which has a huge effect on the cardiovascular system. The increased fat in the body leads to elevated blood pressure and hence increases the risk of stroke and coronary heart diseases. The blood flow in the individual increases and the lumen of the vessels in which the blood flows, decreases simultaneously because of excessive deposition of fat and cholesterol. This excessive deposition of cholesterol and fat is also known as plaques and leads to emboli. Emboli are clots which have been moved from one position to the other. These clots can reach areas far from the heart such as the brain. Emboli can lead to immediate death if they reach a certain part of the brain. Obesity also increases the risk of cancers such as breast cancer, colon cancer and endometrial cancer. It is known to be a major cause of diabetes mellitus as it results in the resistance of insulin within the cells. The musculoskeletal system is also affected as the joints become immoveable and this result in osteoarthritis. The respiratory system can also be affected by obesity as an obese individual may have difficulty in breathing he is sleeping. This condition is referred to as Sleep

Consumer Behaviour and the Role It Plays in Marketing Term Paper

Consumer Behaviour and the Role It Plays in Marketing - Term Paper Example Channel communications work in a two-way system wherein information transfers to the user and bounce all the way back to the producer (Goldberg and McCalley, 1992). In other words, marketing communications work like a feedback system, which allows company producers to relay information to the customers. In response to the provided information, consumers give certain reactions or behaviors. Marketing theorist, Theodore Levitt (1986) once said, "The purpose of business is to get and keep customers." Indeed, businesses spend a lot of time and money in evaluating customer preferences to be able to retain customer loyalty. For if patronage is granted, profit increase follows. Customer loyalty is about establishing and maintaining a relationship with your customers. (Chow & Holden, 1997) A key to this mutually beneficial relationship is the awareness of customer preference or the present and potential needs and wants of a customer about any aspect of the business, whether it is about products or services because of possible customer turnover which will lead to decreased profits. This is emphasized by Ric Ducques and Paul Gaske (1997) who expressed the need to focus on the reasons behind customers defection as on attracting a new customer. Loyal customers can be easier to convince to try new products or services, charge higher prices and use as a willing referral. According to Michael Lowenstein (1997), any business's most advantageous strategic purpose is to gain customer loyalty. It has a constructive effect on company culture, development, and bottom line. Customers will be able to see that the company is geared towards retaining customers through all business processes from management to staff. Â  

Personal Values And Ethics Of An Italian Essay Example for Free

Personal Values And Ethics Of An Italian Essay Values are defined as â€Å"the deepest beliefs and we sentiments we subscribe to†. Every person has values that they put into practice in their lives whether they realize this or not in other words we all apply values in our day-to-day lives both consciously and unconsciously. An individuals’ set of personal values guides him or her on how to live his or her life. Once these values have been implemented, they enable the implementer to achieve great things in life that they would otherwise not have been able to accomplish. Once an individual has implemented his or her personal values in his or her life, these values then energizes the individual and enables him or her to tackle issues that were previously seen as impossible in other words personal values allow an individual achieve what they dream of. Once a person has identified the values that are important to them they go further and develop strategies to be used in implementation of these values. Upon implementation, these values are said to be able to work wonders in a person’s life in that the person now has a direction in life that guides them in making decisions that are in line with their overall aim. When one identifies a mission philosophy or belief that is meaningful to them in their lives, then that becomes their value. There many categories of values whereby they are ranked as either commonplace or those that is special and psychological. An individual day-to-day life including relations with others and how they approach their work is determined by their personal values. These values are the ones that determine the success of an individual in whether action they dedicate themselves to. Once they are applied it becomes very easy for the person to excel in the workplace and personal life. They are said to have the ability to multiply the impact of an action and in turn the consequences of the act. Italians are very religious people and the biggest percentages of them are Catholics. They follow the tenets of the Catholic Church very strictly. They are very emphatic on the importance of the family and especially the mothers. They come together as families as often as possible and even conduct their businesses as a family. The men are always seen as the bread winners in the house and the women are to take care of the family in all ways. Being brought up in such a setting has shaped my values in to confirming with a lot of the traditional that I found when I was born and grew up in. In 1884, the Italian Republic made an agreement with the Vatican regarding religious education in schools. There was then a provision made that ensured that there would be religious teachings offered in all schools that are below the university level (http://www. beginningwithi. com). Since Italy is a catholic state, it therefore means that these teachings are mostly catholic in nature. This therefore ensures that all Italians who are born and bred in Italy have an option of getting religious teachings in school. It was however noted that not everyone is a catholic or even a Christian. This then led to need to make these teachings optional to those who wanted to learn. Those whose parents did not want them to learn had an option of refusing to allow their children not to learn. Since my family was and still is a very strict catholic follower, I never had the option to even refuse to attend these lessons. In fact this was seen as an added advantage since I would be able to learn more about Jesus Christ and the Virgin Mary alongside the various teachings found in the bible. This would in the long run make me a better Christian and it actually did. Having grown up in a catholic family and also an extended one made my personal values to develop in a way that enables me cope with then. My personal values include success commitment fairness faith family feeling hard work and tolerance. The church I have grown up in has taught me to have faith in what I do and in god and hop that all will end well. This has sustained me all through my life especially at times when I feel emotional and psychologically unstable. At these moments I prefer to go to church and say prayers to calm me down. It has also taught me to be committed and this is what has enabled me to hold one position for 15 years in the same store. In Italian culture, one tends to live with the extended family and this is expected of all people. It is customary for the grandparents to care for their grandchildren which they d thus one has to cope with having a house full of relatives and this makes one tolerant. This has gone a long way in enabling me work with other employees without losing my temper. In under standing their weaknesses I am able to correct them without causing the formation of negative altitude towards me and weakness I am able to correct them without causing the formation of negative altitudes towards the job and me. When correcting their mistakes, I do so just as I would if it were my family member and this makes them feel appreciated and thus workers are motivated. I am currently studying for my B. S in criminal justice. The desire to study this course was prompted by my belief in fairness. I have a very strong conviction that everybody of what his or her previous life has been like. As a Christian I believe that any person can change given the chance. It is also true that there are quite a number of people who are wrongfully accused and convicted and it is necessary to correct such wrongs. By learning the different theories propounded in the course study. I can be able to use them in my workplace and in my day-to-day life to blame where it his not due I avoid unnecessary confrontations with other people. In my 15 years of working at the Vons Grocery store, I have met a number of personalities made a positive impact in my life. Michelle Valverda and Shielha Mosley. These people have taught me how to deal with other employees in order to maximize their output. They have taught me the value of success. It has been clarified in my mind what success really means and not just in monetary terms but also in emotional, psychological and physical well-being. These two people have reminded me the importance of leading a round life without neglecting any part of my life since all are important and are required in measuring the success of an individual. When I joined college to study for the criminal justice course, I met other people who added to my list of personal values. One of them is Ian Barrimond who is a fellow student. He has strengthened my value of tolerance because he is becoming more enjoyable when I do not keep getting angry with people for minor mistakes. Furthermore Ian is really committed to his studies and thus has introduced a new value to my life that is commitments. Apart from attending college he has a very demanding job that does not leave him with much time for himself yet he still manages to find time to dedicate his studies. My teacher is also a major influence to my list of values since he is always insisting on the necessary of hard work. Steven Fraitas insists that only by hard work can one be able to achieve what they want from life. The other major influences in my life are my parents who have always insisted on the family unity. They have never allowed my siblings and I to be on bad terms with each other for long and they have always ensured that any problem that crops up among us is quickly resolved before it goes too far. Also they have used the many family gatherings that we hold to invite all of us including the members of the extended family to make sure that we all remain close. None of us feels like a stranger or outsider because we have never been allowed to have time to drift apart to a point of becoming strangers to each other emotionally. This has made me become even more committed to my own family in the hope that it will be as unified as the family that I grew up in. I work hard so as to provide for my family and make sure that they live as comfortably as I can make them. This is encompassed in the value of family feeling. In Italian culture, one tends to live with their parents long after they have reached the age of maturity (Giannotti E. Rocchi R. 2004). It has been argued by some people that this makes them vulnerable to emotional and mental instability. I beg to differ with this conclusion because instead of destabilizing me this has made me a stronger person in aspects in life. There is an assumption that we should all be married at a certain age but by waiting until the right moment allows one to be able to choose the right partner in life. This is important because in the catholic church one is not allowed to divorce and thus it is necessary to choose someone who one will be able to stay with for the rest of their lives. I am among those people who lived with their parents long after the time that is set as standard for people to move out of their parent’s house. I can testify to the benefits that I reaped from this. Since almost all my brothers and sisters were also living with my parents, we were able to develop our relationship into our adulthood. Not only have we remained close with my brothers and sisters but also with my parents. Since I did not start my family until I was old enough to appreciate what I needed in a spouse, I am then able to treat my spouse the way it has always been in the Italian culture. I was also able to learn a lot from my parents on how to live in peace and harmony in the same house with your spouse.

Evil in King Lear

Evil in King Lear Google definition has several definitions for evil that essentially encompass the same idea. According to Google, evil is the quality of being morally wrong. Although this is a good basis for a definition of evil, is evil deeper than Google can describe? One always hopes that good will prevail over evil, but this does not always happen. There are various factors that can determine the eventual outcome and several questions that need to be answered. Is evil intrinsic to ones nature? Can one person force another person to be evil? Are there different levels or degrees of evil? In King Lear by William Shakespeare, evil is a dominant theme. We are not born evil, evil is learned through experience and while no one can force another person to be evil, one can be influenced by another person to perform evil acts. Evil is the quality of being morally wrong, but there are different degrees of evil. In King Lear, evil and its degrees are illustrated through the characters. The sisters Goneril and Regan are an example of characters that take evil to a new level. It can be argued that they are the most malicious characters of the play. They have betrayed Lear several times and have inflicted horrors on many others for self gain alone. The first of their wrongs starts at the very beginning when they deceivingly tell Lear how much they love him. They do this only for the land he has promised them in return for their loving praise, along with housing, taking care of him, and one hundred of his knights. They go back on this deal, which is another, but not their worst of wrongs. They drive Lear mad, all as part of a plan to diminish him of his title of king and make him nothing. They drive him to the point in which he runs off into a raging storm and they urge Gloucester to not help him and leave him, which is said in this quote My lord, entreat him by no means to stay.(act 2, scene 4). Their worst does not stop there, Goneril plans to kill her husband and co mmits adultery and Regan urges Cornwall to pluck out Gloucesters eyes which leads to Cornwall getting stab and killed. In the midst of all this the two sisters develop a family feud over Edmund which inevitably results in their downfall. Edmund is of the same breed of evil. He is ruthless and deceitful; his evil appears to have no end. The first we hear of Edmund, he is scheming to overthrow his father Gloucester and acquire Gloucesters title of duke. To do so, he would also have to get rid brother Edgar, the rightful heir to the title. Edmund is the kind of guys who doesnt think twice to screw someone over. Edmund begins his long and evil plan by setting his brother up saying that Edgar wants to overthrow Gloucester. As planned, Gloucester banishes Edgar. Now looked at as the trustworthy son, Gloucester entrusted Edmund with a potentially dangerous secret; a secret in which Edmund did not keep. He betrayed his father and told the sisters and Cornwall of Gloucesters plans to help Lear escape to the safety of France. This resulted in Cornwall plucking out Gloucesters eyes, a deed Edmund did nothing to oppose. Edmund does not stop there, he knows of the sisters feud over him and he leads them both on to play them again st each other in which he states in this quote To both these sisters have I sworn my love; Each jealous of the other, as the stung Are of the adder. Which of them shall I take? Both? one? or neither? Neither can be enjoyd, If both remain alive. Edmund does all this for personal gain. He knows of his evil and he continues because he wants more power. The rest of the characters of the plays evil deeds do not rise to the same level of evil that our main conspirators, Goneril, Regan, and Edmund achieve; but they too commit evil acts. Arrogance and being self-centered can also be considered to be evil traits and they are two of Lears tragic flaws. Lear is arrogant, he believes that he can give up his responsibilities as king and keep the titles and benefits. He thinks that if he gives his daughters all his land, they will take care of him. He was wrong in his assumption, and when he was told that he was making bad choices by his most loyal friend Kent, he banished Kent. Lear was unjust to Kent, and it was wrong to banish him for caring. Lear also makes the mistake of banishing his daughter Cordelia for telling the truth to Lear. Lear is self-centered, everything is always about him. All he can think about is how everyone is doing him wrong. He believes that he is more sinned against than sinning Lears acts were evil, but minor compar ed to that of his daughters and Edmunds. In life one hopes that good prevails, but in the end this is not always the case. It is human nature to want to see evil doers get what they deserve, but that too does not always happen. In King Lear, some of the characters that perform evil acts get their just desserts, but there are casualties along the way and both good and evil die. Evil is not intrinsic to ones nature, but evil tendencies can be influenced along the way. A truly evil character can be identified by the evil he intends. As it is in Shakespeares King Lear, it is in life; human beings perform evil acts in different degrees. One can be an evil doer, an evil watcher, or the just the person who stands by and does nothing. Any way you view it, evil is as Google definition defines, the quality of being morally wrong.

Barriers Of Enterprise System Information Technology Essay

Barriers Of Enterprise System Information Technology Essay This report focuses on the impact of Enterprise System on ALDI supermarket. ERP systems are costly and complex. They require heavy investments and experts. This research examines key dimensions of implementation of Enterprise system within ALDI supermarket. The components of Enterprise System Software: ERP, CRM AND SCM and its benefits to ALDI supermarket are identified and discussed. Although enterprise system benefits ALDI in many ways, there are some disadvantages and barriers to implement it. These barriers and risks are identified and possible solutions are suggested. INTRODUCTION TO ALDI ALDI (Albrecht Discount) is a discount supermarket chain which is based on Germany and is one of the cheapest and smartest ways to buy groceries. ALDI was established in 1913 and the chain is made up of two separate groups, ALDI North and ALDI south. By the early 1990s the company operated an estimated 3,000 stores in Germany, the Netherlands, Belgium, Denmark, Austria, the United States, France, and the United Kingdom. Today, ALDIs rapidly growing network has more than 7,000 stores and serves millions of people across three continents. Aldi has taken this retail concept, which features low overhead and scanty selection, to its extreme. Unlike other supermarket chains, which continuously increase their product offerings and selling space, Aldi holds selection at its stores to about 500 items. The bulk of these items are packaged grocery or dry goods. ALDI claims Simplicity, consistency and responsibility have always been our three defining core values. As an expanding discount retailer, our actions have international influence in different markets and along the supply chain. ALDI has a different strategy of doing business and saving money. ALDI stores are usually small, from 8,000 to 15,000 square feet. ALDIs outlets also used to bypass expensive barcode scanners that are used by other stores to inventory and price products. Instead, a stockperson would simply post a sign with the price nearby. Price lists were memorised by the cashier but with the demanding information technology, ALDI has now started to use barcode scanners. Each product that ALDI sales have 4 barcodes which makes it quicker to scan and increases the productivity of the cashier (this has been inspected in one of the ALDI store in seven sisters, London). ALDI has also decided not to sell fresh meat which again saves company money as it can avoid steep refrigeration costs as well as the high wages the meat-cutters unions demand. ALDI also has a strategy to keep labour cost low in different ways. ALDI charges four cents per bag to their customers and the customers must bag their own groceries. Customers can rent a shopping trolley for 25 cents and they get their quarter back when they bring the shopping trolley to the front of the store. By doing this, ALDI does not have to pay someone to collect the trolley in the parking lot or replace stolen ones. ALDI also keeps the telephone numbers of their stores unlisted so that employees dont waste time answering the phone. Aldi-style austerity holds labour costs to an estimated four percent of store sales, compared to ten percent to 12 percent for most supermarkets. ENTERPRISE SOFTWARE Enterprise software services a larger amount of users and needs, typically through the use of a network and multiple points of processing and clients. Enterprise software provides services which are typically business-oriented tools such as online shopping and online payment processing, interactive product catalogue, automated billing systems, security, content management, IT service management, customer relationship management, enterprise resource planning, business intelligence, Human Resource management, manufacturing, application integration etc. It is normally multi-tiered client/server. In the past, companies were used to compete based on one or two competitive performance objectives such as price and quality. However, present markets demand both price and quality in addition to greater flexibility and responsiveness. Information systems such as Enterprise resource planning (ERP) have gained ground in providing support for achieving an integrated supply chain. Firms around the world have been implementing ERP systems since the 1990s to have a uniform information system in their respective organisations and to re-engineer their business processes. There are three main components of Enterprise System Software. They are: Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Supply Chain Management (SCM) ENTERPRISE RESOURCE PLANNING (ERP) ERP uses internet technologies to integrate the flow of information from internal business functions as well as information from customers and suppliers such as manufacturing, finance, procurement and distribution. The system uses a relational database management system, within client/server network architecture, to capture valuable management data. ERP systems offer companies the following three major benefits: Business process automation Timely access to management information Improvement in the supply chain via the use of e-communication and e- commerce. ERP links all areas of a company including order management, manufacturing, human resources, financial systems, and distribution with external suppliers and customers into a tightly integrated system with shared data and visibility. It is not a good move to just plan resources required to run the enterprise; they need to be managed as well. An organisation must access itself, to see if it is ready for ERP. It must determine if it is ready for the competitive business environment and then strengthen its position for future changes. ERP software helps companys operations after they are integrated into the system with the help of experts. In addition, in order for them to be efficient, they have to be used by experienced personnel so it can sometimes be very costly. There are number of ERP softwares such as: SAP R/3, ORACLE, IFS APPLICATION, SAGE MAS 500, CANIAS ERP, SAS etc of which SAP R/3 is the most popular and is used by most of the organisation. BENEFITS of ERP ERP software can help ALDI supermarket in following ways: End user service delivery: ERP software has the features and functions that enable end-user services: innovative support for ALIDs business roles that help to extend the reach of human resource processes to all stakeholders. It also boosts productivity and efficiency and reduces many transactions and processes once handled by HR staff. Reduce operating costs: ERP software can help ALDI supermarket to reduce cost such as inventory cost, production cost, marketing cost etc. with ERP software, ALDI can improve coordination across functional departments and increase efficiency of doing business. Support strategic planning: Strategic planning defines business target and set of goals and objectives. It assesses plan and design coordination strategies and logically connects these strategies to needs, assets and outcomes. Part of ERP software systems are designed to support resource planning portion of strategic planning. CUSTOMER RELATIONSHIP MANAGEMENT Business in todays world is customer driven. In the past, price and quality were the key factors to successful business but now, customer satisfaction and flexibility have also become equally important. Customer Relationship management is very important to a business successfully. The better the customer relationship is, the easier it gets to conduct business and generate revenue. Customer Relationship Management (CRM) software helps to understand customer needs and allows ALDI supermarket to design customer-specific levels of service and also increases value per customer and customer retention. CRM softwares can be categorised into four different types: outsourced solutions, off-the shelf solution, bespoke software and managed solutions. It might be very costly and time consuming at times to implement CRM software however it can benefit ALDI in many ways: Based on previous records, it can increase sales through better timing by anticipating customer needs Can identify needs by understanding customer requirements Can identify which customers are profitable and which are not Can improve profitability by focussing on most profitable customers. BENEFITS OF CUSTOMER RELATIONSHIP MANAGEMENT Customer Relationship Management (CRM) helps to build profitable and lasting customer relationship by providing the insight and analysis needed to anticipate customer needs. CRM provides the following: Flexibility to create unique customer experience: CRM software helps end-to-end business processes to address an array of marketing, sales, and service situations. The CRM software easily adapts and extends to create a more distinctive customer experience. Drives organisation to more consistent interactions across all channels: CRM software can help ALDI to make the most of every customer interaction that is consistent and relevant, with real-time information about the complete history, value and profitability of each customer across the entire customer life cycle. Enables end-to-end process within the industry value chain: CRM software can help ALDI drive customer value, loyalty across the entire value chain. CRM can turn the vision of customer-driven growth into reality with the best in class front office functionality that complements industry-specific processes. SUPPLY CHAIN MANAGEMENT Supply chain management can be defined as the management of a distribution channel across organisations. It is the design, planning, execution and monitoring of all supply chain activities. Supply chain management can benefit ALDI supermarket to plan smoothly and execute related operations to achieve long-term profitability and maintain a solid competitive edge. BENEFITS OF SUPPLY CHAIN MANAGEMENT Improve supply chain network: with supply chain management, ALDI can monitor the status of all activities across all suppliers, production plants and distribution centres. SCM enables an effective way of tracking and managing all related processes, from ordering through manufacturing and shipping of end product to customers. Minimized Delays: Delays in supply chain can result in poor relationship, unsuccessful business and eventually loss of business. With supply chain management software, all activities from start to finish can be coordinated with higher level of on-time delivery across the board. Enhanced collaboration: Supply chain softwares can bridge the gap between departed business software at remote locations to improve collaboration among supply chain partners. All participants can dynamically share vital information such as demand reports, forecasts, inventory levels etc. in real time. Reduced Costs: Supply chain software can help ALDI supermarket reduce overhead expenses in many ways. It can improve inventory management and facilitate successful implementation of on-time stock models. It also helps ALDI to make effective demand plans, so production and sales level can be set to the maximum. It can also help improve relationships with distributors which can cut the cost in ordering products in volume. BARRIERS IN IMPLEMENTING ENTERPRISE SYSTEM SOFTWARE Though enterprise system softwares have many benefits, these benefits can sometimes be matched with high level risk because of its complexity. According to Soh (el al 2000), some companies even terminate the implementation of enterprise system software regarding time, cost and disruption caused and sometimes limited benefits once the system becomes operational. There may be some barriers while trying to adjust the enterprise software and barriers cause decrease in organisational performance instead of improvement. Organisational change is one of the most important barriers encountered in transition of new systems. Some of the barriers involved during implementation of enterprise system software are: Structural Barriers, Technological Barriers, Intellectual and Socio emotional Barriers and Cost Barrier. STRUCTURAL BARRIERS It is very important to understand the organisational structure existent in the organisation before implementing enterprise system software to prevent possible knowledge integration problems that could exist. The main structural barrier is that organisational structural limits the interaction among the different functional areas. The level of efficiency reached in the implementing enterprise system software depends upon how the organisational structure aligns with the nature of the tasks performed by members. Ross and Vitales (2000) found that the majority of the firms surveyed perceived enterprise system software implementation to be extremely disruptive. Enterprise software implementation may only succeed when the organisation is able to re-structure itself, and not just overlay the new management information system on the old organisational structure. Hammer (1999) argues that the ERP implementation is an integrative mechanism that connects diverse departments establishing integra ted processes. TECHNOLOGICAL BARRIER The IS people within the information systems department who are the founders of the pervious system might have problems to understand and maintain the new enterprise software easily. This is when the technological barrier emerges. The IS people may not be able to provide good support the new enterprise software users because they had not internalised the routines necessary to support the new enterprise software. The second technological barrier could be the parallel use of legacy systems. According to Mileton-Kelly (2004), the new systems may quickly become legacy systems as they might not meet the full requirements of the users and may not be able to fully support business evolution. Furthermore, most of the legacy systems do not use a relational database management system (RDBMS); they still use proprietary flat file system. The reason for this is because there is no central ownership of data or information items in use by companies. This problem could be solved with the use of legacy systems for validation reasons only. Since ERP modules, processes or reports were validated, users only will have access to the ERP environment for their day to day work. This solution reduces the amount of work in terms of duplication of efforts. Moreover, users will focus only in the ERP system; this means a reduction of the comparisons with the legacy systems, an increment of the users productivity, and a possibility to integrate user knowledge in the ERP system. INTELLECTUAL AND SOCIO-EMOTIONAL BARRIERS The intellectual dimension is related with the learning and knowledge of users, and the socio-emotional dimension considers the feelings and the willingness to improve skills of the users. The main barriers involved in these dimensions could be: knowledge transfer between the legacy system and the new ERP system, and between consultants and ERP users. According to Ko, Kirsch, and king (2005), not much is known about knowledge transfer from consultants to ERP users, in which the knowledge structure of the participants is asymmetric. The consultant primarily possesses technical knowledge, whereas their clients and future ERP users primarily possess business knowledge. Hence, the knowledge initially possessed by the consultant must be integrated and embodied in the knowledge of the ERP users. This might remove barriers and also allows both parties to minimize disagreements and enhance their ability to work together for effectively transferring knowledge. The concern about users preferri ng old procedures and not adopting to the new ERP environment could be prevailing. Users may not be resisting to the change, but they might be trying to make sense of the change. This approach is related with the socio-emotional dimension because users need to justify that these changes are better from them. User training could be a key requirement for ERP implementation. Those organisations which invested in training had successfully overcome socio-emotional barriers involved with the ERP implementation. The individual knowledge barrier could be overcome by the identification and definition of new procedures and functions to shift the user perspective from the individual level to the organisational level. This means that to reach the knowledge integration process across the organisation, there may be a need to map the existing knowledge into the ERP functionality. This new vision helps to reduce the perception of the new ERP system. Pan et al. (2001) also suggests that ERP team members must instigate a process of relationship building through increased information sharing and social interaction among users. This behaviour promotes the structural integration to improve knowledge integration through users willingness to share information and ideas in the form of political transparency or process de-layering. COST BARRIER Although Enterprise system software can benefit ALDI in many different ways, it is very costly and hard to implement. ALDIs main strategy is to sell cheap products and use less technology. They sell the products cheap as they save money on technology but if they use technology, they might not be able to sell the products so cheap which is going to bring another competition among other supermarkets and is against ALDIs current strategy. CONCLUSION In the report, a brief history and introduction to ALDI supermarket was discussed. ALDI is a supermarket which was established in 1913 at Germany. Today, ALDI has more than 7000 stores and serves millions of customers across three continents. ALDIs business strategies were studied by visiting ALDIs local store and conversation with managers of ALDI. An overview of Enterprise Software and its components: Enterprise resource planning, customer relationship management and supply chain management were discussed. Benefits of using ERP, CRM and SCM were identified and it was discussed how ALDI would benefit by using these enterprise system software. Finally, barriers and risks of using enterprise system software were identified and solutions to those barriers were discussed.