Business Law in Accounting

Accounting is the system of recording, reporting and verifying financial information for individuals and businesses, including income, expenses, value of assets, and so on. However, Business Law I, takes what is normally known of accounting and moves into another arena, one which includes civil and criminal liabilities, contract law, ethics and the Sarbanes-Oxley Act of 2002. By establishing the basics in Business Law, accountants are able to understand the risks of their particular profession. Accountants are faced with civil and criminal liabilities which are based on the accountant’s ability to do his or her job effectively and legally. Accountants face civil liabilities when they do not complete the work satisfactorially to what was agreed to. Even â€Å"Codes of Ethics† urge accountants to not agree to do work that they know they do not have the knowledge or time to complete. Competency is a key element to being a successful accountant, and not meeting competency goals can cause problems for young accountants entering the field. By understanding the basics of contract law, it is easier for accountants to find the necessary information to allow them to do their jobs competently. If accountants know that it takes mutual consideration, or a â€Å"meeting of the minds,† to begin contract negotiations, then they can figure if they are reviewing a contract, some type of mutual consideration must have occurred, as well as a proposal and acceptance portion of the conversation. Also, if an accountant knows that the contract is for the sale of goods, then the accountant would know that the UCC Article 2 has to be used, instead of simple contract law. Knowing this would help the accountant understand how the asset or products purchased needed to be accounted for, because without detailed information in the contract, UCC Article I gap filling procedures take place. These procedures are an attempt to take vagueness and give it some detail, but the gap filling detail is not much better than the original, thus the accountant can still be stuck, lost, not knowing how to account for a particular product, and not knowing at which time responsibility and risk for the product exchanges hands. The Sarbanes-Oxley Act was signed into law in 2002 by George W. Bush. The original thought behind SOX was to regulate the accounting profession, due to the greed that had resulted in huge economic crashes amongst top corporations such as Enron and WorldCom. SOX assisted in setting up regulatory organizations for each facet of the accounting process. These organizations are designed to ensure that accounting practices and auditing practices are ethical, legal and professional for public U. S. companies. Unfortunately, SOX does not regulate private companies, but private companies cannot create financial hardships for outside investors, so private companies are not in need of these type of regulations. Business Law I helped create an understanding amongst the students regarding what is actually expected of them once work as an accountant begins. A naive accountant would believe that all he or she needed to do was ensure that the data being entered in is correct and if not, fix it through a series of journal entries. However, after taking this class, it is apparent that this is an incorrect assumption. Understanding the civil and criminal liabilities that can be charged due to negligence or fraud, whether intentional or not, is incredibly important to accountants and CPA’s. Without understanding these potential problems, an accountant would not be able to understand the level of the problem, or be able to assess the gravity of the situation, whatever that situation may be. Even though accounting is a financial profession that takes the value of income, expenses, assets, and other items, and reports, analyzes, records and verifies these amounts, Business Law allows for the review of the profession in general. Accountants have to understand what is legally expected of them when working with client’s records and reports, and how these legal expectations can be brought upon them, and what their rights are. Without understanding the responsibility and risk that takes place for a company, an accountant would not understand why it is so important to establish ownership and when that particular ownership exchanges hands. Accountants also must understand what risks and responsibilities their particular profession run as well, and ensure that they are competently performing their jobs so that there is no question as to if an accountant was negligent, or was derilect in the performance of his or her duty.

Equality in childcare Essay

Unit 0.3 Outcome 1 Understand the importance of equality and inclusion 1a. What is meant by diversity The term ‘diversity’ means difference. Diversity recognises that though people have things in common with each other, they are also different and unique in many ways. Diversity is about recognising and valuing those differences. Diversity consists of visible and non-visible factors, which include personal characteristics such as background, culture, personality and work-style in addition to the characteristics that are protected under discrimination legislation in terms of race, disability, gender, religion and belief, sexual orientation and age. By recognising and understanding our individual differences and embracing them, we can create a productive environment in which everybody feels valued. 1b. What is meant by equality Equality means treating people in a way that is appropriate for their needs. This could mean if someone had say a disability you need to treat them in the same way as you would another person, without showing them up but adapt the help you provide. 1c. What is meant by inclusion Inclusion is about equal opportunities for all families, whatever their age, gender, ethnicity, attainment and background. It pays particular attention to the provision made for, and the achievement of, different groups of pupils within a school. 1d. What is meant by discrimination Read more: Importance of inclusive practice essay Discrimination is the prejudicial treatment of an individual based on their membership in a certain group or category. For example, religion, skin  colour. 1.2 Describe ways in which discrimination may deliberately or inadvertently occur in the work setting Indirect Discrimination: Indirect discrimination occurs when policies and practices, which appear fair because they are applied to everyone, but turn out to disadvantage people and particular groups within society. For example, if a job advertisement states that applicants must be able to drive then this could put a certain people at a disadvantage, such as those with a disability. Or, for example you may have a school display every year to celebrate Christmas because the majority of the children would be classed as ‘white’ ‘’Christian’, however if other faiths and celebrations are not represented then smaller groups could be discriminated against. Positive Discrimination: Positive discrimination is regarded as the preferential treatment of members of a minority group over a majority group, either by sex, race, age, marital status or sex orientation. So for example if you were to allow a particular less represented group of children over another to perform a task this is classed a positive discrimination. Racial Discrimination: If a practitioner has particular views concerning race or even religion, these views could be used in the setting unintentionally to have a negative or positive influence in a situation or particular child. Stereotypes: A practitioner may intentionally or intentionally categorise children in a particular way. This could be for example, boys play with cars and girls dolls. 0.3 1.3 Explain how practices that support equality and inclusion reduce the likelihood of discrimination Treating the individual fairly, on the same level and providing them with equal opportunities to housing, education, employment, transport, health and social care can help as the individual will feel valued and treated fairly  and not made vulnerable or set apart. This will reduce, if not eliminate any discrimination against that individual or by that individual against others. Inclusion also is important as the individual will be aware of their rights, will feel in control and will feel supported to be able to make their own decisions and have their needs met. In turn this will reduce the risk of the individual being discriminated against or discriminating against others. In our setting with religion for example, we try to cover a few with our circle time sessions. Last year we did a topic on Hanukkah, a Jewish festival. 0.3 2.1 Legislation and codes of practice that applies to own role There are various pieces of legislation in place to promote equality and reduce discrimination. These include: Race Relations Act 1976 with the Public Order Act 1986 and Racial and Religious Hatred Ac 2006. Children Act 1989 and 2004 and Care Standards Act 2000 Educational Act 1981 together with E.A 1993 and 1996, Special Educational Needs and Disability Act 2001 and Disability Discrimination Acts 1995 and 2005 Equality Act 2006  Laws alone cannot change people’s attitudes, but they can help to risk the practical aspects of discrimination. The Code Of Practice for Children with SEN gives guidance on meeting the learning needs of children with special educational needs. The EYFS guidance explains how to put the EYFS in to action. Good inclusive practice that promotes equality goes beyond what the law commands. 0.3 2.3 Describe how to challenge discrimination in a way that encourages change You should never ignore or excuse such discriminatory behaviour any more than you would ignore or excuse someone if they inflicted physical pain on someone else. It must be addressed because if you do not respond and just  let the incident pass you are contributing to the person feeling that it is acceptable to speak or behave that way. To promote change you need to change people’s attitude toward other races, sexuality, religion.. In our setting we try to educate our children about different culture and disabilities by doing things like having time so that children can share their experiences with each other, and encourage them to think of other people’s feelings. They can share different opinions with each other and also get the opportunity to think about what it is like for other people. They are asked to think how they would feel in those persons shoes. 0.3 3.1 Identify a range of sources of information, advice, support about diversity, equality and inclusion It is our duty to protect a child’s rights and to offer them fair chances in life. We need to be able to be open to new ideas in order to develop and improve the way we work. Sources we could use to assist with this are: My manager Children’s families and parents Specialist organisations The internet (BBC website) Books, magazines (‘Nursery World’) Colleagues (SENCO person if you need help with a special educational needs child) EYFS and other frameworks 0.3 3.2 Describe how and when to access information, advice and support about diversity, equality and inclusion It is a sign of professionalism to recognise when you need additional information, advice and support. It is good to seek support, as struggling alone is not good practice. Equality and inclusion are aspects of practice that are complex and can raise sensitivities. Situations can be challenging and distressing. It is important to seek support and use the experience as a professional learning point. For example, in my setting when I was struggling with a child who I felt needed some speech help and I didn’t know where to turn, I contacted my  Manager who is also SENCO trained and she organised a Speech and Language Therapy referral.

Learning

Dear Mrs.. Bailey, I'm looking forward to acquiring new skills and strategies to apply, not only in my pursuit of higher education, but in every aspect of my life. I've always been an avid learner, ready to soak up information and knowledge every chance I get. Learning new things has been a major interest of mine for as long as I can remember, which is saying allot, because I actually have a few memories from when was a toddler. Throughout my early years in school, I was a straight A student who picked up on everything right away.My love of acquiring and sharing knowledge continues to grow as time passes. Though am quite aware that I am mentally capable of accomplishing any feat of intellectual nature performed by any man before me, I am honest enough to admit that face some formidable adversaries within myself. Being diagnosed with depression adds several obstacles within itself. For starters, waking up isn't always as easy as it may be for some others. At times, it can take a self- talking, convincing yourself that you have to get up, and in severe cases not even that works.The challenges associated with Major Depression are too numerous to name in this passage. No matter which symptoms arise, I know I must overcome them because depression is a diagnosis I live with, not who I am. Though I am quite adept at learning and applying new knowledge, I know that there is always room for improvement, as no-one knows everything and no-one is perfect. Being a quick study affords me the advantage need to stay relevant in the ever-changing world of business and technology.And, even though I am quite knowledgeable in many areas, I know that the benefits of following the curriculum set forth will further prepare me for the life I want my family and myself by refining and enhancing the knowledge I already possess and adding I wealth of knowledge I have yet to attain. I would like to take this time to thank you in advance for all of your assistance during this journey I am e mbarking on and hope you have a great day. Learning Dear Mrs.. Bailey, I'm looking forward to acquiring new skills and strategies to apply, not only in my pursuit of higher education, but in every aspect of my life. I've always been an avid learner, ready to soak up information and knowledge every chance I get. Learning new things has been a major interest of mine for as long as I can remember, which is saying allot, because I actually have a few memories from when was a toddler. Throughout my early years in school, I was a straight A student who picked up on everything right away.My love of acquiring and sharing knowledge continues to grow as time passes. Though am quite aware that I am mentally capable of accomplishing any feat of intellectual nature performed by any man before me, I am honest enough to admit that face some formidable adversaries within myself. Being diagnosed with depression adds several obstacles within itself. For starters, waking up isn't always as easy as it may be for some others. At times, it can take a self- talking, convincing yourself that you have to get up, and in severe cases not even that works.The challenges associated with Major Depression are too numerous to name in this passage. No matter which symptoms arise, I know I must overcome them because depression is a diagnosis I live with, not who I am. Though I am quite adept at learning and applying new knowledge, I know that there is always room for improvement, as no-one knows everything and no-one is perfect. Being a quick study affords me the advantage need to stay relevant in the ever-changing world of business and technology.And, even though I am quite knowledgeable in many areas, I know that the benefits of following the curriculum set forth will further prepare me for the life I want my family and myself by refining and enhancing the knowledge I already possess and adding I wealth of knowledge I have yet to attain. I would like to take this time to thank you in advance for all of your assistance during this journey I am e mbarking on and hope you have a great day.

Outline the required contents of the Airplane Flight manual and the Essay

Outline the required contents of the Airplane Flight manual and the Aircraft Maintenence Manual - Essay Example Currently, formats and contents of airplane and rotorcraft flight manuals are stipulated by the General Aviation Manufacturers Association’s (GAMA). An airplane manual has numerous sections that contain adverse information concerning the model of the aircraft at hand. This section provides the fundamental descriptive information about the airplane and power plant whereby most manuals include a three-view drawing of the airplane that provides dimensions of various components. Some of the components included in this section are airplane’s wingspan, its maximum height, overall length, and wheelbase length (American Flyers, 2014). The last part of the General section encompasses abbreviations, definitions, explanations of symbology, as well as some of the vocabulary used in the manual. This section comprises of the delimitations required by the regulation and that are crucial for the safe operation of the aircraft, systems, equipment as well as power plants. It comprises of operating limitations, instrument markings, color coding, as well as basic placards (United States, 2007). Airspeed, weight and loading distribution, power plant, and flight are some of the limitations areas that are included in this section. The Normal Procedures section starts by listing the normal airspeed for normal operations, several checklists that may include preflight inspection, before starting procedures, starting engine, before taxiing, taxiing, before takeoff, takeoff, climb, cruise, descent, before landing, balked landing, after landing, and post-flight procedures (United States, 2007). Amplified Procedures area may be provided so as to give more details about the diverse procedures. This section contains all the information required by the aircraft certification regulations, and any additional performance information the manufacturer feels may enhance a pilot’s ability to

Empirical analysis of determinants of audit fees in China Essay

Empirical analysis of determinants of audit fees in China - Essay Example However, financial information about some of the listed companies was missing for which the Chinese database RESSET was used as the supplementary source. Apart from this, annual report of some of the companies was also checked. The data that are considered for the study are of 2011. For the analysis of the collected data SPSS, statistical software has been used. The first section is based on the analysis of the whole data set that comprises of data of the listed companies of both Shenzhen and Shanghai. The second section analyses the data of the two cities separately. 4.2 Descriptive Statistics of whole sample The Table 1 given below shows the statistics for the audit fees with respect to the other variables. As the table shows that the minimum audit fees is ?1.00 million, whereas the maximum is ?3.51 million. This reveals that there is a huge difference between the audit fees of the two cities. However, the average audit fees in these two cities are ?3.51 million. This huge differen ce can be due to the factors like characteristics of the area and financial position of the company, which are located at the various places of the two cities. ... The minimum inventory ratio is 0 while the maximum is .94. The average inventory ratio is 0.18. The inventory ratio depicts a huge difference between the maximum and minimum levels. Some of the organizations are seen to have no inventories at all while some other companies are having a high level of inventory with them. This ratio helps in determining the fact whether the organization is making optimum utilization of resources. Therefore, a high inventory ratio is not good for the organization (Barthwal, 2007; Anupindi et al., 2008). Accounts receivables is the claim that is paid in cash and in exchange for the product and services that are provided by the company. The position of accounts receivable in comparison to the total assets of the firm is shown by the accounts receivable ratio. It signifies the complexity of the organization (Jiambalvo, 2009; 2007; Weil, 2012). The table 1 shows that the accounts receivable ratio ranges between the minimum value of 00 and the maximum value of 0.60. The average account receivable ratio is 0.93. The intangibles ratio of the firm is another factor, which is considered to affect the auditor’s fees. When the intangible assets are compared to the total asset, it is seen that the ratio is at a minimum level of 00 and the maximum level of 0.67. The average intangible ratio is 0.05. This reveals that some of the companies do not have any type of intangible assets while some others have. The current ratio is another factor that may affect the audit fees. The current ratio is calculated by dividing the current assets by the current liabilities (Lasher, 2013; Pratt, 2010; Gibson, 2012). The minimum current ratio is 0.11 and the maximum is 204.74. This signifies that there exists a huge

Theology of Missions Research Paper Example | Topics and Well Written Essays - 1500 words

Theology of Missions - Research Paper Example According to the genesis 45 and 50, Joseph was never keen to revenge, rather he was swift to delivery him people from trouble. This is the making of any missionary sent by God in the history of the bible. Joseph confessed that what his brothers intended to evil, God intended for good to deliver the children of Israel from the danger of famine. This means that Joseph was commissioned by God to save the children1. The Old Testament records that for as long as Joseph was the prime minister, the children of Israel lived in Goshen, and had quality life. The role of Moses is crucial in the role of missions as accounted for in the holy bible. Prophet Moses was a leader sent by God to carry out an expansive mission to deliver the children of Israel from Egypt. Moses became the voice of God to the Jewish people. Moses had a special purpose to counter the Egyptian gods and the tyranny of pharaoh. According to exodus chapter 12, God clearly sent Moses. This indicates that Moses was a missionary acting to represent the purposes of God. His was also to deliver a living God to Israelites in Egypt. Moses was explicit to the Egyptian authority on who sent him and His mission. According to Deuteronomy, Moses’ exhortatory appeal to the children of Israel stressed on the need to obey God and the divine law. New Testament According to Mathew 28, from verse 20 Jesus commissioned His disciples to preach the gospel. This text indicates the desire of the Lord Jesus to have His kingdom spread by the disciples and those who believe in His words. Jesus explained to role of the trinity in the great commission. Jesus commissioned disciples to make other disciples around the world. The text exposes a passionate desire for Jesus to have a generation believers to carry out His mission in His physical absentia. The disciples were empowered and legally duty bound to win souls to the kingdom of God. This was God’s plan of salvation. Act1:8 explains that the desire of Jesus to have the kingdom spread from Jerusalem to Judea, Samarian and the uttermost parts of the earth. This is a New Testament text that relates to mission. Jesus explained that His sole desire was to have the world evangelized through mission work. The text explained that Jesus was focused on winning souls across the world through mission initiatives. Later, in an encounter with Saul, Jesus said he was a chosen vessel to bear His name. How the nature of God relates to mission theology It is evidently vivid the nature of God related to missions. The house of Israel was termed as the people of God. Therefore, they were the object of God’s lessons to other nations. God spoke and explicitly intended the nations to know His might by considering His dealings with Israel2. According to Deuteronomy chapter 8, God had promised that he would lift the nation of Israel above all other nations on the face of the earth. In the sight of gentile nations, God wanted to be seen as both living and Holy, ( Isaiah 61:9-11). The nature of God is revealed to the non-believers by the quality of life seen in those who are called by His Name. This is the reason God offered both blessings for obedience and curses for disobedience. The blessings indicated the desire for God to reveal His might through making the nation mighty and

Economics of small and medium enterprises Essay

Economics of small and medium enterprises - Essay Example This essay offers a comprehensive review of the current economic policy of the UK government towards small and medium-sized enterprises. The efficiency of such policy is also analysed. The smaller firms are less fortunate to obtain significant financial aid to combat their insolvency problems. The successive governments in UK have been witnessing comprehensive policy initiatives for uplifting the small enterprises. The very existence of SMEs is vital for the overall economic growth of the developing nation of UK. For preserving the economic opulence of the country, the existing small enterprises must be rescued from all hindrances of sustainability. The threat to these business units resulting into critical problems such as severe unemployment and decline in the economic growth has made the Government to identify the urgency to rescue such SMEs from collapsing. Various action plans and schemes have been taken up by the government for protecting these enterprises. However, the government itself, along with others, admits that a lot of work is yet to be done for achieving the success of reviving small enterprises. There lies a wide gap between preparation of plans and measures, and putting them into appropriate actions thereby ensuring viable results. Impeccable efforts are still missing in order to bridge up this gap. In spite of the endeavours for complete eradication of the barriers faced by the struggling small business firms, a viable implementation of actions for the revitalisation of the SMEs is still lagging far behind.

Migration Project Paper Research Example | Topics and Well Written Essays - 750 words

Migration Project - Research Paper Example It is difficult for Muslims to immigrate to America at present. Same way many of the gulf countries also started to control immigration in recent times because of the demographic imbalances it created in gulf countries. In short, migration is a controversial subject at present and that is why I decided to research more about this subject. Immigration is a difficult process now, especially to America. â€Å"Illegal immigration into the United States is massive in scale. More than 10 million undocumented aliens currently reside in the U.S., and that population is growing by 700,000 per year†(Kane & Johnson). Terrorism is causing big problems to America at present and therefore they are keen in reducing immigration as much as possible. This paper is written based on an interview I conducted with my own wife Amani Shami. I met her in 2009 at Saudi Arabia and married her in the same year. She is a student at Kent state university now. She came to America in 2010 after our marriage. Before coming to America, she has completed her graduation in Geography at the University of King Khalid, Saudi Arabia. As a new immigrant to America, I do believe that my wife can definitely help me to prepare this paper with respect to migration. Saudi Arabia, the country which Amani belongs is a periphery country. Countries can be classified as periphery, semi-periphery or core countries based on development, share of global wealth, strength of institutions, dependency on other countries etc. Even though Saudi Arabia is a rich country in the Middle East, it is periphery in nature when we compare it with America. Push and pull factors can affect immigration from one country to another. Land scarcity in home country, Political and/or religious persecution, Revolutions and Poverty are some of the push factors whereas Promise of freedom (religious and political), Hope for a new life, Industry Jobs, etc are some of the pull factors of immigration. In Amani’s case, Hope for a n ew life (Pull factor) forced her to migrate to America. It should be noted that America is the most developed and wealthiest country in the world and no other country offers the same freedom and liberties that America offers for human life. Apart from these factors, another factor which motivated Amani to migrate to America is the opportunity to live with her husband and complete her studies in America. The quality of education in America is comparatively higher than that in Saudi Arabia. Amani was actually failed to receive a job in Saudi Arabia because of stiff competition from others. It should be noted that majority of the Saudi youths are going abroad for getting quality education and when they return, companies often appoint them at the expense of domestically graduated students. Even though, Amani came to America as a student, the family reunion program helped her in a lot in visa processing. Even though she applied for green card first, the delay in processing green card app lications forced her to apply for a student visa. Getting a student visa in America is much easier than getting a green card now. Green card application processing may take 1 to 2 years whereas student visa processing may take less than 6 months in America. Amani faced little problems in entering America even though there are many complaints about the treatment of immigrants, especially Muslim immigrants at American airports. The authorities did not ask any confusing or

Intelligent Design is it Science Essay Example | Topics and Well Written Essays - 750 words

Intelligent Design is it Science - Essay Example To support his view, he has used example of the law of physics, with relevance to radio signals. Dembski states that radio signals take diverse form as a contingent form, extensive and multifaceted. To further supports the theory of Specified complexity, he states that intelligence leaves behind a mark or a trail, which makes up a design community, hence it describes the nature of specified complexity. An event is considered to be specified complexity if the element in it, can’t be explained by probability, which is the amount of expectation of occurrence of the unpredictable event. Meaning, an individual never expects an event to occur, because of its unusual and unware nature and the individual’s inability to explain that event is intelligence (Dembski, 712). Dembski believes that intelligent design should be taught in school as natural and scientific phenomena, but teachers face problem of fate and beliefs while teaching the intelligent design theory. The core of the problem is, the explanation of intelligent design theory to students, how intelligent design is science and not a religion. He further states that intelligent design should be taught in biology classes, to high school students. Keeping in view that the method of conversion does not account for specified structure, which is compound in nature, in biology. Although educators should act passively while teaching intelligent theory as one tends to comply to his own perceptions with the design theory (Dembski, 715).

Analysis the market environment of Dairy crest Essay

Analysis the market environment of Dairy crest - Essay Example Government use the following methods to support dairy industry: In spite of the fact that dairy industry operates in friendly environment, it has been facing some legal hurdles. For example, dairy makers could not under the law of the United Kingdom assert that their products could treat or prevent diseases, however could claim that their products had some useful benefits once the evidence to this effect had been provided. Economic factors. Dairy industry of the UK is highly competitive. The UK is the third producer of milk in Europe. There are several large purchasers of milk on the market, and Dairy Crest is one of them. British economy is growing at the rate of 3% and there is strong demand on health food products; however dairy industry and Dairy Crest in particular suffers from several unfavorable economic factors: Social factors. Social factors are one of the most important factors in the development of marketing strategy of Dairy Crest. British population is more health conscious, and Dairy Crest has already been trying to adapt itself to this trend by launching new updated version of its diary product St Ivel Gold and Clever Milk, both are enriched with beneficial oils. So far the expansion into health-food market has been successful; the company claims that the growth in this niche of the market has been more than three times higher than in the market of usual dairy products. UK has ageing population and it might not be an encouraging news for the producers of some of the dairy products, such as milk; however if the industry manages to produce more health-beneficial products, especially those that can help cure or prevent age-related illnesses, the ageing factor might be an advantage . Technological factors. One might not expect some revolutionary technological innovations on the market, however taking into account the fact that demand on the health food has been growing steadily, one can expect the rising in the expenditures on the R&D to produce more beneficial diary products.

Business Accounting Ratio analysis is one of the many tools that can Essay

Business Accounting Ratio analysis is one of the many tools that can be used to evaluate financial performance of business entities - Essay Example Having produced 137.2 million barrels of oil equivalent for one year as of the fiscal year ended June 30, 2009, BHP is not surprising selling its crude oil production to refiners worldwide at market prices (Reuters.com, 2010a). The following ratios are needed for purposes of evaluating BHP: Gross Profit/Profitability ratio, Return on Capital Employed. Gearing Ratio, Liquidity ratio/acid test ration and Price earnings ratio. Each is computed and explained below using data from The Annual Report of BHP for 2009 (BHP, 2010) and London Stock Exchange (2010). Return on equity (ROE) is computed by dividing Net income to Total Equity, Return on Sales or Net Profit Margin is computed by dividing Net income to Total Revenues, while Gross Profit ratio is from dividing gross profit with Total Revenues. The data used to compute the ratios are found in Appendix A. This also measures the company’s profitability and efficiency of the company for the past two years. The formula is to Earnings before tax (EBIT) as numerator and to have Capital Employed, which is equivalent to Total Assets less Current liabilities as denominator. Below is the resulting ratio. The data used to compute the ratios are found in Appendix A. This also measures the company’s financial leverage for the past two years by dividing Total liabilities to Total equity. Below is the resulting ratio. The data used to compute the ratios are found in Appendix A. This measures the company’s capacity to pay its maturing obligations for the current year. This current ratio is computed by dividing Current assets to Current liabilities while Acid test ration is by dividing Quick assets to Current liabilities. Quick assets equals current assets less inventory, prepaid expenses and other current assets. Below are the resulting ratios. The data used to compute the ratios are found in Appendix A This measures the

United States Gun Control Essay Example for Free

United States Gun Control Essay Firearms restriction, commonly known as gun control, is a hotly debated subject in and out of the political arena. Advocacy groups propose more restrictions, tighter restraints and harsher punishments for offenses. These proponents claim that violence stems from guns and gun owners, gun manufacturers and gun supporters are to blame. Opposition groups to gun control suggest that lesser restrictions, greater availability of different types of firearms and more moderate punishments should be put in place. History and Background A well regulated militia, being necessary to the security of a free state, the right of the people to keep and bear Arms, shall not be in fringed. This is the Second Amendment to the Constitution of the United States. With this single sentence, laws, debates, fights and controversies have begun, ended and are still being fought. Gun control can be defined as government limitation of the purchase and ownership of firearms. In the early days of our country there was little gun control. Guns were used both as protection from Indian incursions as well as tools for hunting. It wasnt until 1934 with the National Firearms Act, passed by Franklin D. Roosevelt, which prohibited the sale and manufacture of automatic-fire weapons like machine guns, short-barreled shotguns and rifles, parts of guns like silencers, as  well as other gadget-type firearms hidden in canes.(Spitzer 141) This act came about from the lawlessness and rise of gangster culture during prohibition. The most controversial piece of legislation was passed in 1968. called the Gun Control Act, this act expanded licensing requirements to include more dealers, and more de tailed record keeping. Handgun sales over state lines were restricted, as well as the list of persons that dealers couldnt sell to grew to include those convicted of felonies (with some exceptions) mentally incompetent, or drug users.(Spitzer 142) The main purpose of the bill was to eliminate the sale of firearms through the mail, or mail-order guns. Up until this time, customers only had to sign a statement that they were over the age of 21 in order to purchase a handgun and 18 for rifle or shotgun. It wasnt until 1994 that the next two major pieces of gun restriction legislation were passed. The Brady Handgun Violence Prevention Act, simply the Brady Act, and the Violent Crime Control and Law Enforcement Act, commonly known as the assault-weapons ban. The Brady Act imposed a five day waiting period and mandatory background check before a licensed dealer could sell a handgun to a licensed customer. Also, there was the new FBI run National Instant Criminal Background Check System. This system was in place on Nov. 30, 1998 and applies to all firearm sales. It allowed background checks to be done over the phone or electronically with most results returned immediately. Spitzer describes the Assault-Weapons Ban being passed in order to ban the manufacture, possession, and importation of new semiautomatic assault weapons and large-capacity ammunition feeding devices.(152) This means that a large number of semi-automatic rifles were prohibited along with magazines that held over 30 rounds of ammunition. Finally it prohibited juveniles from possessing or selling handguns. In 2002 the Justice Department, under Attorney General John Ashcroft, indicated that it interpreted the Second Amendment as supporting the rights of individuals to possess and bear arms for protection as well as recreation and collection.(Norquist 1) the history of gun control is long and complicated, with recent tendencies swinigin toward more relaxed controls. Pro-Gun Control In recent years, gun control activists, that is, those in favor of more restrictions, have grown and been favored by the media. Some of these groups include handgun Control, Inc., the National Coalition to Ban Handguns, the Brady Campaign to Prevent Violence, the Coalition to Stop Gun Violence, Mothers Against Violence in America and the international Stop Handgun Violence.(Carter 75) With increasing media attention with more and more school shootings, proponents of gun control legislation have often held that only federal laws can be effective. If not, states with few restrictions will continue to be sources of guns that flow illegally into states with more restrictions. These groups believe that the Second Amendment is obsolete, or is intended solely to guard against suppression of state militias by the central government. They ask why a private citizen needs any firearm that is not designed primarily for hunting or other recognized sporting purposes. One mans answer to this question was There is no tradition of civilians owning assault-type guns'(Edel 75) while another man states after much thought, I can see no justification for me or others like me to own a paramilitary assault rifle.(Edel 76) Many proponents of firearm restrictions have advocated policy changes on specific types of firearms or components that appear to be useful primarily for criminal purposes or purposes that pose unusual risks to the public. Fully automatic firearms and short-barreled rifles and shotguns have been subject to strict regulation since 1934. Fully automatic firearms have been banned from private possession since 1986, except for those legally owned and registered with the Secretary of the Treasury on May 19, 1986, the day the ban was passed.(Spitzer 139) The proponents of gun control have presented a strong and sol id case. Many firmly believe that guns should be banned throughout the country. Anti-Gun Control Opponents of gun control vary in their positions with respect to specific forms of control. Generally, they hold that gun control laws do not accomplish what is intended. Many argue that it is as difficult to keep weapons from being acquired by high risk individuals, even under federal laws and strict enforcement. In their view, a more stringent federal firearm  regulatory system would only create problems for law-abiding citizens, bring mounting frustration and escalation of bans by gun regulators, and possibly threaten citizens civil rights or safety. The group leading the battle against gun control is the National Rifle Association, or the NRA. The NRA started as an organization to promote the practice of target shooting. After World War II, while the social outlook on firearms became increasingly negative, the NRA focused its energies on anti-gun control. Using their newly formed ILA (Institute for Legislative Action) the NRA lobbied politicians and inundated the media with literature and facts about the Second Amendment and how those rights were being infringed. Gun control opponents also reject the assumption that the only legitimate purpose of ownership by a private citizen is recreational. (i. e., hunting and target-shooting)(Carter 81) Carter also points out that those opponents insist on the continuing need of people for effective means to defend person and property, and they point to studies that they believe show that gun possession lowers the incidence of crime.(85) Andrews sums up the difference in stance between Red (Republican and pro-gun) and Blue (Democrat and anti-gun) States. He says [t]his is why the Second Amendment is so bothersome to Blue America. The right to bear arms is the right to take a stand, to act on the belief that you are right and someone else is wrong, and as such it is a threat to the amoral collectivism that the New Left embodies.(2) Here, Andrews explains that many anti-gun control activists view the issue from a moral standpoint where the gun control advocates view the issue from an incorrect interests viewpoint. Some opponents believe further that the Second Amendment includes a right to keep arms as a defense against potential government tyranny, pointing to examples in other countries of the use of firearm restrictions to curb dissent and secure illegitimate government power. Whatever the case, the peoples leading the fight against the control and legislation against guns carry on and never give up. They believe morally and strongly that gun control is much too restrictive and infringes upon rights given them by the Constitution. Summary The debate over gun control has been hard fought and intense. To gun control  advocates, the opposition is out of touch with the times, misinterprets the Second Amendment, or is lacking in concern for the problems of crime and violence. To gun control opponents, advocates are naive in their faith in the power of regulation to solve social problems, bent on disarming the American citizen for ideological or social reasons, or moved by irrational hostility to firearms and gun enthusiasts. Guns dont kill people, people kill people.(NRA Slogan, 1980-Present) Works Cited Andrews, Ned. Why Guns Matter. The American Enterprise 01 Sep. 2002: 9+. Bijlefeld, Marjolijn. People For and Against Gun Control. Westport, Connecticut: Greenwood Press, 1999. Carter, Gregg Lee. The Gun Control Movement. New York: Twayne Publishers, 1997 Cothran, Helen, ed. Opposing Viewpoints: Gun Control. San Diego: Greenhaven Press, 2003. Edel, Wilbur. Gun Control: Threat to Liberty or Defense Against Anarchy. Westport, Connecticut: Praeger Publishers, 1995. LaPierre, Wayne R. Guns, Crime, and Freedom. Washington, DC: Regnery Publishing, Inc., 1994. Norquist, Grover. Lesons of the Fall. The American Enterprise 01 Jan. 2003: 13. Spitzer, Robert J. The Politics of Gun Control. Chatham, New Jersey: Chatham House Publishers, Inc., 1995. The Definition of an Issue: United States Gun Control

Culture Led Regeneration Focuses On Tourism Essay

Culture Led Regeneration Focuses On Tourism Essay Introduction The aim of this chapter is to provide a framework for the basis of this study, discussing the key matters and approaches in culture-led regeneration whilst examining its functionality within a wider context. It is essential to discuss flagship developments, the public realm, urban design principles and planning policy as part of the place making process. Images of the built environment used within place promotion strategies often add value by increasing consumption within a city. The following attempts to synthesise literatures from the fields of culture, regeneration, urban design, quality of place, place image and the public realm thus providing a coherent framework for later analysis. It is these overarching concepts which remain interlinked in creating better places where people want to live work and subsequently invest. Part One: Regeneration Culture-led Regeneration The term culture-led regeneration has become a part of the planning and development vocabulary and has been seen as being of increasing importance from the beginning of the 1990s, since which arts and culture have come to be seen as a key resource for urban regeneration (Griffiths et al, 2003: 154) with both increased focus and funding opportunities. The Department for Culture, Media and Sport (DCMS) commissioned a report entitled The Contribution of Culture to Regeneration in the UK which defined regeneration as breathing new life and vitality into an ailing community, industry and areas bringing sustainable, long-terms improvements to local quality of life (2004:4). Culture-led regeneration focuses on using culture and cultural activity as a catalyst and engine for regeneration activity. Within the scope of this study such cultural activity will focus on the quality and design of both buildings and the reclamations of open space including their impact and use. Often these activities are used within place rebranding strategies (Evans and Shaw 2004). Specifically this form of regeneration can be considered through many types of expression including architecture, heritage buildings, festivals, events and the performing arts (Smith, 2006). There are numerous approaches towards achieving culture-led regeneration including production and consumption based strategies (Bianchini, 1993), as illustrated in Figure X. Culture-led regeneration has been used extensively within Europe (Gomez, 1988; Keating and De Frantz, 2004; Miles, 2005) from the beginning of the 1990s as a strategy for regenerating cities that have suffered from social and economic decline through de-industrialisation. Whilst such strategies have been successful throughout Europe, uncertainly remains regarding their long-term benefits (Kavaratzis and Ashworth, 2006). Various studies have been conducted into the effects and impacts of culture on regeneration as outlined in Table X within the context of this study. Culture-led regeneration initiatives have been implemented aimed towards adopting a new place image (Doucet, 2007). The shift towards a globalised economy has resulted in increased competitiveness, recognising that cities must complete of a global scale to attract inward investment. Following deindustrialisation civic institutions have adopted culture-led regeneration initiatives as a tool which offers distinctive wider e conomic benefit by not only stimulating economic growth however aiming towards addressing negative market externalities and social problems (Jones and Evans, 2008). Keating and De Frantz (2004:190) summarise In a crowded international market, it can mark the city as distinct, giving it a brand image. This can indirectly promote its economic competitiveness by increasing its position in the quality-life indexes of international investment ranking. It may also have a psychological effect within the city, building self-confidence and civic pride among the population and even boosting optimism among investors. The role of art and culture is strong within economic development and place-marketing strategies as the wider cultural offer of a city formulates a key component of re-imaging and the creation of distinctive places. This often results in extensive urban development based upon consumption with individuals being attracted by the synergy formed by cultural facilities and surrounding mixed-use development (Snedcof, 1985). Figure X Table X Impacts of Culture on Regeneration Physical Economic Cultural Enhanced identity and place image Inward investment Increased cultural understanding Aesthetic and environmental improvements through architecture, public art and public realm Tourism and increased visitor spending Promoting participation within the arts Increased design quality Increased footfall Enhanced creativity and vision Increased use of public open space Increased property values Enhanced cultural well-being Reuse of redundant buildings/ increased occupancy of vacant land Employer retention Sustainable development (Adapted from Evans and Shaw, 2004; Landry et al, 1993) A case study on the Newcastle Gateshead found that there were social and community benefits of culture-led regeneration including increased numbers of local residents attending cultural institutions and an increased number of residents feeling that the arts had played a valuable role in their lives. Furthermore culture-led regeneration within the area has aided in restoring local individuals identities in addition to improving the fabric and culture within the city. Bailey et al (2004), argue that culture-led regeneration provides a framework enabling local people can [to] re-establish ownership of their own sense of place and space. Thus, culture is a critical aspect of mediating and articulating community need (Evans, 2005: 959), as can be seen that one of the potential effects of culture-led regeneration is positive social impact in addition to economic stabilisation (see Figure X for examples). Major events are seen as a particularly effective catalyst for city regeneration processes because they are able to merge tourism strategies with urban planning and can boost the confidence and pride of the local community (Garcia, 2004: 104) The arts are a catalyst for regeneration, a magnet for tourism and business, enhance the visual quality of a citys environment and provide a focus for community and individual development (Miles, 2005: 896) Figure X examples of social impacts in culture-led regeneration Flagship Development Phenomenon Over past decades the role of the government has essentially changed from functioning as city managers providing frontline public services, to policies focusing on globalisation (Doucet, 2007). Accordingly transforming into more diversified economies adopting entrepreneurial practices as a result of ideological shifts within government policies promoting growth and development. In order to accumulate investment and create job opportunities within this ever competitive economy, there has been an increased focus and awareness of consumption factors, such as quality of life, amenities, the built environment, cultural and social facts (Healy et al, 1992). Flagship developments are often used to produce euphoria, a sense of civic pride and success amongst the local population. Flagship developments are considered a means for economic growth and further catalytic effects such as bringing derelict space back into an economic use. Flagship developments are often launched alongside rebranding or marketing strategies with the aim of changing place image towards a dynamic and creative vision, thus attracting individuals and increasing potential footfall. Flagship developments are often situated in high-profile locations such as central business districts (Healy et al 1992). The Bilbao region of northern Spain is often cited as a successful example of a flagship development and is known as the Guggenheim Effect having created many ripple effects across the region. Critiques of Flagship Developments Doucet (2007) notes the foremost criticism is that of conflicting visions of the city from those of the policy makers and promoters to those of the local population. Thus the question arises as to who are flagships designed for, the residents or outsiders? Often flagships developments follow themes and patterns duplicated from previously successful projects which lead to a cookie-cutter effect (Doucet, 2007). Many flagship developments have become franchised and replicated in both appearance and form throughout the world, which subsequently affects their impact. For example it is evident that many flagship museums are becoming franchised; diminishing originality and their unique selling positions (Harvey, 1989). Impact Measurement The term impact is used in relation to the contribution or role or importance of culture-led regeneration. Table X below identified the different environmental and economic impact measurements and their associated tests (DCMS 2004); Table X: Impact Measurement Environmental Land values and occupancy (versus vacant premises/voids), design quality, environmental/quality of life. Tests Quality of Life (ODPMs local quality of life indicators), Design Quality Indicators (DQI CABE/CIC), Re-use of brownfield land Economic Multipliers (jobs, income/expenditure direct, indirect, induced), cost benefit analysis, contingent valuation (i.e. willingness to pay for free activities such as parks, museums, libraries), inward investment and leverage, distributive effects Tests Employment/unemployment rates, income/spending and wealth in an area, and distribution by social group and location, employer location, public-private leverage, footfall. Place Marketing Image profile strategies may assist in tackling issues around depravation and unemployment in addition to indirectly increasing its economic position reflected in the quality of life, the creation of a distinctive sense of place and psychological effects such as implementing civic pride and a shift of perceptions. Generically through UR the rebranding of a place follows through the design and construction of the built environment. Additionally the use of high profile projects in conjunction with tourism and cultural policies promotes a positive place image in order to adapt the status of the city, its local economy and attract inward business investment as suggested by Stevenson (2003). There seems to be a growing importance in the role of economic development and the adoption of place marketing and re-imaging will assist in distinguishing a place from its competing locations. Bramwell and Rawding (1996) discuss the repositioning of a place within a better market sector with the new brand communicating that alternative service range offers are available to investors, businesses and individuals. The phrase renaissance defines a new approach to regeneration based on the quality of place, an understanding that the design and delivery of high-quality public spaces and the built environment will raise aspirations and contribute to a higher and more sustainable level of economic wellbeing. The function of the programme is to facilitate the renaissance of underperforming places and maximise its strengths. The aim is to help places develop and prosper, both in physical and economic terms. Part Two: Public Realm A Case for Public Realm and Place Quality The type of investment that comprises public realm is varied and often specific to a particular location. Within a city centre context the range of interventions can cover mixed use developments with a focus on squares, waterside development combined with good urban design features which include improving connectivity and supporting green space. The approaches adopted can be led by the type of commercial use be it retail, cultural or indeed office development led. The definition of quality of place can be broadly described as the range of factors which contribute to the attractiveness and functionality of a locality as a place to live, work, invest or visit. Investment that supports the development of high quality places is generally recognised as helping to improve economic performance. This particular view has influenced the place agenda over the past decade and this is now clearly evident in public policy. Good examples of this shift in policy include the CLGs Total Place concept and the approach being adopted by the HCA to area based development. CABE have long argued the importance of quality places in defining successful places. Economic Benefits Various research studies undertaken over the last 10 years have sought to examine the impact of design quality on local areas and businesses. CABE (2002) draws together the findings of key research from the UK and abroad showing how investment in good design generates economic and social value. Collectively the studies provide evidence of the value of design in the areas of civic pride and cultural activity, business, housing, educational environments, crime prevention and social wellbeing. CABE (2004) highlighted the importance of public realm and public spaces to the competitiveness of an area. Whitehead et al (2006) sought to follow up on the earlier qualitative findings (such as the work by CABE) to quantify measures of change in business performance brought about by urban quality improvements (for example, studies that looked at willingness to pay, impact on property values and rents, turnover, footfall or other quantifiable forms of impact). Whitehead et al (2006) examined whether improvements in the urban environment (which might be achieved through pedestrianisation or public realm improvements) affect business location decisions. The central question posed was to establish the value to office or retail businesses of locating in enhanced urban spaces, reviewing more than 700 different studies. Table X below summarises the quantifiable evidence found by the Panel. It indicates the range and mean value for key commercial metrics such as footfall and turnover and retail and office rental premiums observed from the investment made. Table X (Whitehead et al 2006) Activity Type of improvement Number of cases Headline values (Mean) Retail footfall Pedestrianisation 10 20% 40% (32.3%) Retail turnover 22 10% 25% (17.0%) Retail rents 420 10% 30% (21.7%) Office rents Waterfront improvement/ other water feature 10 15% 35% (24.2%) Commercial property values can also benefit from the presence of quality public realm and environs. In principle, higher landscape quality will help to make sites and premises easier to sell or let and help retain occupants, with some studies suggesting that some occupants value landscape quality more highly than others to the extent that they are prepared to pay a higher than average rent for premises located in an area of high landscape quality (South Yorkshire Forest et al, 2008). Land and property values are a useful proxy measure for the relative prosperity and attractiveness of a community, neighbourhood or place. Property values reflect a basket of factors, including for example transport links, proximity to employment and local services, as well as environmental quality. The public realm theory of change model brings together the evidence base in terms of activities, outputs, outcomes and impacts in mapping the economic benefits of public realm investment (EMDA/ECOTEC 2007). Figure X provides a schematic of the public realm theory of change model. In the centre of the framework are the reasons why public realm investment brings about economic benefits summarised around six economic benefit streams: 1. Attracting business; 2. Increasing land / property values 3. Attracting visitors; 4. Increasing tourism; 5. Improving productivity; and 6. Enhancing image. The theory is that the quality of the location is enhanced by public realm and this changes the behaviours of investors, business and visitors, leading to increased positive outcomes including increased business activity, visitor expenditure, secondary business activity, productivity and an overall enhanced image for the area. Ultimately this improves the overall investment climate for a location and employment opportunities, impacting on high level outcomes including the sustainability of communities and economic competitiveness. Figure X: Public Realm Theory of Change Model. Case Study Evidence In evaluating the impact of public realm there has been a heavy emphasis on using area based case studies. Such case studies have tended to focus on qualitative assessments, although increasingly they have used survey approaches to help assess the relative contribution of public realm investment. Table X summarises a number of case studies. The case studies illustrate that public realm is reported by stakeholders as having an economic impact. Businesses across a range of studies report that public realm investment improves the performance of existing enterprises and influences new investment decisions. This is due to the way in which public realm impacts on increasing the attractiveness of an area, increasing footfall leading to increased consumers expenditure or improves the image of an area leading to new employment generation activity. The public realm is a secondary factor in the location decision making of inward investors in the East Midlands (EMDA/ECOTEC 2007). This was viewed as being due to the nature of inward investment decisions and the multiple factors that influence location. Moreover, it has been noted that there is little robust evidence from property market stakeholders to demonstrate the economic and regeneration impacts of investment in the public realm, but anecdotal evidence point to a positive relationship. A more general point relates to the context for public realm investment being made. The case study evidence suggests that whilst public realm projects can be successful in their own right, they need to be part of a wider regeneration programme to contribute towards the economic revival and sustainability of an area. What the case studies generally provide is a strong signal from businesses that there is a causal relationship between public realm investment and economic performance and the mechanisms for economic impacts. What is less clear is the relative contribution of public realm to observed overall changes. Table X: Summary of selected case studies on the economic benefits of public realm [source] Case Studies Context Investment Qualitative Impacts Quantitative Impacts Birmingham Victoria Square Public square flanked by most established civic buildings  £3.7m as part of  £6.5m package of works Restriction of traffic flows helped increase pedestrian flows, space for formal and informal activity, events attracts visitors. No assessment Bristol Queen Square Increase in property values of 15% which in part can be attributed to the public realm. Coventry city centre Poor quality city centre environment Range of public realm works incorporated Urban design improvements in the city centre, including signage, public art and civic square improvements have been cited as leading to a 25% increase in footfall on Saturdays [footnote] Torbay Waterfront Waterfront investment in public realm The public investment was recognised by businesses as important in influencing their investment decisions and increased trade [footnote] Based on waterfront business surveys and interviews was able to attribute on average some 20% of private sector investment to the waterfront public realm investment. Key retailers had noticed increased footfall as a benefit and some 10% of investment was attributed by the evaluators to the public realm investment. Whitby Town centre public realm works Study reported an increase of 35% in visitors as a result of the public realm works. This analysis was based on a visitor survey which asked whether the public realm has influenced the decision to visit. Part Three: Policy and Investment Rationale Cultural Planning Rationale Most culture-led regeneration has been implemented through cultural policy (Vickery 2000) with the rationale of achieving both social and political agendas. During the 1980s the use of cultural policy shifted towards an economic and physical regeneration mechanism (Garcia, 2004; McGuigan, 2005), and was known as cultural economic policy Kong (2000). Cultural policy has been used to create a sense of national identity through a cultural renaissance based on primarily on achieving economic benefits (Lee, 2004). There are various policy levels which aim to support both production and consumption based strategies (Simonin 2003). The DCMS made it a non-statutory requirement for the local authorities in England to produce a local cultural strategy to promote cultural well-being (DCMS 2000:5) which resulted in a high take up. A DCMS report entitled Culture at the Heart of Regeneration outlined the economic and social benefits of culture and recommended policy improvements to ensure that culture is firmly embedded in regeneration from the very beginning (DCMS,2004:5), not just as an after-thought. Cultural planning is defined as the à ¢Ã¢â€š ¬Ã‚ ¦strategic use of cultural resources for the integrated development of cities, regions and countries (Evans, 2001:7), and is the means for which culture to be considered in all processes relating to planning and development (Mercer, 2002). It is promoted by academics, as an alternative to traditional cultural policies (Evans, 2001; Garcia, 2004; Bianchini, 1993). This approach promotes an understanding of cities as cultural entities (Bianchini, 1993:212) and incorporates cultural policies with other sectors, such as planning (Lutz, 2006). Public Realm Investment Rationale The public policy rationale for investing in public realm has become increasingly well documented in recent years. Public places that help to inspire, delight and attract people are now firmly recognised as one of the wellsprings of prosperity. Indeed, good quality public realm has become increasingly central to urban regeneration policy decisions. The case is well articulated by CABE (2003:4) A high quality public environment can have a significant impact on the economic life of urban centres and is an essential part of any successful regeneration strategy. As towns increasingly compete with one another to attract investment, the presence of good parks, squares, gardens and other public spaces becomes a vital business and marketing tool. Companies are attracted to locations that offer well-designed, well-managed public places and these in turn attract customers, employees and services. It is worth noting the words of the American urban designer Alexander Garvin who wrote Urban planning should be defined as public action that will produce a sustained and widespread private market reaction (Gallacher 2005:11). That is to say if any new public space is not designed without some conscious thought given to increasing human activity and exchange, as well as adding to the economic value of local neighbourhoods and facilities, then it is likely to fail. The urban competitiveness maze outlined in the late 1990s introduced the concept that high quality public realm was an important factor in determining economic performance (Begg, 1999). The study highlighted that a high quality pedestrian environment and public realm was an essential component of creating the right environment for business. The linkages between local environmental quality and economic performance determined that public realm could have an influence through: (i) stimulating the local economy through increasing private sector returns, (ii) have a positive impact on perceptions of the area, and (iii) may retain and attract workers to an area where there is easy access to employment centres (Frontier Economics Ltd, 2004). Public realm investment is recognised as integral to the functioning of quality places. Buchanan (2008) concluded a three year evaluation project capturing the impact of quality of place investments across the North East region (these include a range of investments in cultural facilities, streetscapes, parks and other public realm). This has focussed closely on the impact of quality places on economic performance and has highlighted the contribution of public realm to the mix of elements that help make a location successful. Figure X overleaf illustrates the mix of attributes that make for good locations and quality of place identified in the study. Buchanans analysis concluded that quality of place investments can make a positive contribution to regional economic performance in four areas in particular: attracting and retaining knowledge workers; improving productivity through enhanced density; increasing labour force participation, and growing the tourism and culture economy The study identifies a broad approach to the assessment of the impact of quality of place, covering the assessment of economic change, property values and land prices, perception change and a physical quality assessment. The physical quality assessment used a number of survey tools as outlines in Figure X below. Figure X: Figure X: Economic competitiveness and quality of place (Buchanan, 2008) Over time public and urban realm investment has featured more strongly in order to underpin overall investment strategies. Industrialisation in the urban centres led to expansion, but de industrialisation later led to decline. The decline of many of the town and city centres was accompanied by social and physical degeneration, worsened by urban sprawl, including the emergence of out-of town shopping. The urban cores became places more likely to hinder, rather than promote, economic growth. The sheer scale of the problem, and a lack of resources, condemned to failure previous approaches of quick-fix and piecemeal interventions (in this case Sheffield). Within cultural planning policy and economic strategy the importance of public realm is in making great places and delivering more competitive locations. They serve as an attraction for people, businesses and visitors. They become places where people want to visit, live, work and invest. They offer better lifestyles. They are more likely to attract people who have more choices in life, with higher levels of income, education and skills. They attract new, knowledge-based sectors. The process of place-making helps to overcome exclusion, empowering local people and raising their levels of aspiration and ambition. The case for public sector investment in public realm is firmly grounded in a belief that it is a key contributor to the economic well-being and competitiveness of an area. There is a general body of evidence that recognises the importance of quality of place and public realm in attracting and retaining business, skilled people and visitors. From the evidence it is also clear that there are many factors that contribute to the quality of a particular location and therefore the attractiveness of a location to residents, businesses and visitors. Often a public realm strategy is just part of an overall investment strategy to improve the quality of a town or city centre environment the best are often described by investors or developers where they can see that action is being taken to improve a town or citys environment across sectors whether this be efforts to improve the town or citys retail, leisure, office, or residential offer, supported by a strong and clear masterplan and strong public sector governance. Together these factors appear to come together to improve the overall quality of a place, and a location that will encourage private sector investment. The challenge appears to be in disentangling the specific contribution of the public realm investment. Part Four: Validity Literature Validity Following an extensive literature review process it is vital to correspondingly consider the validity of such sources of literature. It remains essential for critical analysis and evaluation of certain aspects including the tone and style echoed within the literature in addition to the purpose for which it has been written. By undertaking effective and thorough research from a variety of quality key texts this enables the researcher to gain depth of knowledge and an understanding of the topic area. The adopted systematic approach to underpinning this literature review has enabled a variety of sources such as internet data, books, journals and reports for data collection, analysis generation and interpretation. A widespread of government agendas, initiatives, policies and strategy report documents have been reviewed. Refereed scholarly journal articles have been considered from various respected sources, authors and academic institutions which have been written for the purposes of professionals, academics and students within the field of the built environment. Additionally, internet data and books have presented mixed views which remain valid for use within this study. Therefore, bias or alternative influences remain few, subsequently forming reliable and valuable sources of information which have been executed with a critical approach for the purposes of this study.

Video On Demand Services Of Netflix Information Technology Essay

Video On Demand Services Of Netflix Information Technology Essay Netflix which established in the 1997 is the largest online movie rental company in the world. It famous by the service that offers their customers subscribe the DVD online or online streaming without any due date or late fees. Until the end of year 2009, they have more than 100,000 movies in DVD catalog, and in 2010, they have over 14 million subscribers. Their competitive advantages are the CineMatch recommendation software and the automated supply chain delivery. The recommendation system that make accurate suggestion movie to their customers, and their 100 plus delivery centers across the country allows 95% customers receive DVD within 1 business day. Currently, many cable and satellite companies offer Video on demand (VOD) which make customers see the video without waiting and reduce the cost of the shipment. In order to survive in the competitive home filmed-entertainment industry, Netflix take series practical actions to strength its VOD service. Netflix offered a digital rental service call Netflixs Watch that allows subscribers to download and view movies or television programs instantly on their PC for free depends on their subscribe plan. Base on the development of entering VOD system through the streaming video, Netflix will create a differentiation compare to other competitors. On the other hand, Netflix will change from DVD online rental segment to distributor of digital entertainment. Generic strategy- Differentiation Netflix was founded in 1990s and pioneered the subscriber based DVD rental service. Compared with most of the competitions which are in store rental service such as Blockbuster, Netflix differentiate itself into a whole new business segment. Netflix created its blue ocean by being entirely different from its competitors. By dominated in the DVD rental market, Netflix required to innovated new technology to compete against competitors who could also cut down the price. For example, Netflix emphasized on customers personalization, they using recommendation system which provide customer movies suggestion according to their renting history. On the other hand, they established over 100 distribution centers to deliver the movies and let customers received the mail within one day. Netflix using Oracle ERP Database to manage inventory, customers data and CineMatch system and adding value to each business activity. http://noisebetweenstations.com/personal/weblogs/?p=2011#ixzz0zsAJGoMY Porters five forces analysis of Netflix Buyer power-low Netflix is the first company that offer online subscribe rental DVD and through the United States postal service to mail to their customers. Netflix provide their customers with many different efficient systems. For example, CineMatch recommendation software offer personalized service to customers according to their subscribed record, almost 85~90% of customers will enjoy the suggestive movies and continue their subscription. On the other hand, Netflix emphasized 95% of customers will receive the DVD in one business day. Therefore, buyer power is low because other companies dont have such recommendation system and services compare to Netflix, and also their month fees are higher than Netflix. For buyers, their switching cost is high, so the buyer power is low. Supplier power-high Netflix buy their movies from the suppliers are movie studio such as Hollywood film distributors and USPS. In the film industry, it is no other substitute can choose in the rental market. Therefore, the supplier power is high. Threat of Substitute-high The VOD (Video on demand) is a new system that allows users use set-top box, computer or other player devices to watch video at any time. VOD is a threat of substitute for Netflix because customers no longer want to wait for the mail anymore; they want to see the movie right away. Therefore, Netflix has to align with VOD system to maintain its market shares. Threat of New Entrants-low It costs a significant capital for new entrants to enter in VOD industry, so that will be a hard barrier for new entrants to get into the market. On the other hand, the existing rental retailers already has the experience in marketing, that is a huge experience advantage exceed the potential entrants. Therefore, the threat of new entrants is low. Rivalry among Existing Competitors-high This industry has several main video rental companies that engaged in price war competition, such as Blockbuster, Hollywood video and Redbox. Most of the competitors have developed the digital box to integrate with VOD system in order to satisfy the customers need. On the other hand, Apple and Amazon both offer customers downloaded digital videos and watched on their TV by Apple TV and TiVO, respectively. Therefore, the video rental market for VOD system has encountered strongly competition. Netflix value chain Primary activity: Inbound Logistics: Netflixs strategy is establishes partnership with top studios such as Hollywood studios, twentieth century Fox in order to expand its library data. Therefore, Netflix have more new categories of movies or TV episodes available for their customers. Operation: The online recommendation system provided the best movie that is not usually the high-demand new release for customers because they are frequently out of stock. Based on the recommendation system, company can arrange their inventory management without harass the deficiency of supply. Moreover, the company devoted to expanding the distribution centers to deliver mail within 1 day to their customers. Outbound Logistics: Netflix cooperate with United States Postal Service (USPS) to reduce the delivery time and costs. The returned of the movie from customers is through by USPS to the closest Netflixs distribution center. Marketing and sales: Netflixs members are available using devices of Microsofts Xbox 360, Sonys PS3 and Nintendos Wii consoles to watch movies and TV episodes; Blu-ray disc players from Samsung, LG and Insignia; Internet TVs from LG, Sony and VIZIO; the Roku digital video player and TiVo digital video recorders, and until recently Apples iPhone, iPad and iPod touch are accessible as well. Service: Netflix continuing developed the new technological system such as recommendation system, distribution center, Oracle System and the development with VOD system to provide customer convenient online subscribe experience in order to enlarge their subscribers database. Support activity: Procurement: Netflix purchases titles directly from the studios to expand the library database, therefore their customers have more varied choices either on the delivery movies and online download service. Technology development: Netflix provided a free Netflix application for iPhone and iPod touch, allowing their members on plans starting at just $8.99 a month to instantly watch movies or a series of TV episodes on their iPhone or iPod touch without charging additional costs. Human resource management: To evaluate employees job performances for Netflix is the website for customers satisfaction. Therefore, employees have to realize the companys core values, openness, approachability and honesty well before offering service to customers (Patty McCord, 2009). Data Mining Netflix has also makes an outstanding data mining to create its competitive advantages. For example, Cinematch recommendation system synthesizes customer rental behavior and movie ratings to assist the company to recommend the movie to customers. This system will make customers keep subscribing and purchasing the movie. In addition, the system also helps company to invest wider range of movies. Netflix avoid to spend too much money by identify more niche film markets and expand distribution for smaller-budget films. In this situation, the company can save money by increasing demand for lesser-known films and reduce demand for big-studio blockbusters. Customer Relationship Management Systems (CRM) Customer relationship management (CRM) systems helps Netflix serve their customers more efficiently. The information that collects from their customers stored in the data warehouse and analyzed by CRM system. By using this system, Netflix can analyze the needs of customers and further realized customers behaviors. The goal of CRM system is to crate positive experiences for customers instead of the negative experiences (Haag 50). One of the most important technologies that support Netflixs customer relationship management is its custom-built intelligent agent. An intelligent agent is artificial intelligence software that helps or acts on behalf of the user to perform repetitive-computer related tasks (Haag 224). By using this system, Netflix know customers preferences and disliked. Moreover, Netflix is able to give accurate, personal recommendations to their customers. Supply Chain Management Systems (SCM) By using supply chain management (SCM) systems, Netflix can keep track on its inventory and information that go through its transaction processes. Furthermore, SCM system helps Netflix to reduce its inventory at the warehouse and distribute its products more efficiently. One of the SCM systems for Netflix can effectively reduce the inventory in warehouse by notify employees where to deliver its inventory as soon as DVD arrives in the warehouse. When the inventory arrives at the warehouse, it is immediately sent off to its next destination (Haag 189). Consequently, most of the times inventories are on the way of traveling and being used by a consumer and very less time staying in the warehouse. This method also makes sure that the product reaches its next destination as soon as possible. Netflixs SCM system also tracks inventory and determines the fastest route to let the DVD into customers hands. Enterprise resources plan (ERP) Database is resources to help the company better understand customers behavior and analyze operational efficiency. Oracle System is a system that Netflix uses to manage the companys database, so it is a backbone for organizational operation (Netflix website, 2010). The system utilizes the data to manage inventory, financial result of the companys performance, and customers data (Netflix website, 2010). On the other hand, Oracle ERP database is also to support the Cinematch System. In addition, the entire DVD library and logistics are also managed through this system. The company is using this system to manage its companys information more effective. Video on demand (VOD) Cooperate with other companies: broadband-enabled devices According to the trend and the popularity of using VOD system for the rental DVD market, Netflix see the potential market and started to align with other companies to advance this new technology to viewing movies. Because consumers are not willing to wait for the movies arrive by mail, instead, they seek for the company that allows them to see the movie right away to satisfy their need. For example, Netflix have partnership with LG Electronics, Samsung Blu-ray disc players, Microsoft Xbox 360 console, TiVo digital video recorders, and the Nintendo-Wii. All these devices allowed the members through the hardware to enjoy Netflixs services. In January 2010, Netflix have partnership with Funai, Panasonic, Sanyo, Sharp, and Toshiba, which also allowed consumers to watch movies and TV episodes through the digital televisions. Furthermore, iPad from Apple developed a Netflix app in 2010, allowing members access Netflixs library of movies and television shows. Recommendation Netflix creates their values by differentiate itself between their competitors, especially Blockbuster. Its outstanding systems make the company accounted the most of the market shares in this industry. However, Netflix is not satisfied the current succeed and still develop the advance technologies, for example developed VOD system and established the partnerships with other companies to increase their amount of subscribers. In conclusion, Netflix should creates company values through innovation and improvement, also improve the CineMatch system to advance the personalized website experience. http://www.solarsquirrel.com/MIDS/System_Analysis.html#ErpDatabase http://www.stanford.edu/~aditya86/Netflix.pdf http://noisebetweenstations.com/personal/weblogs/?p=2011 http://www.wikinvest.com/wiki/Netflix_%28NFLX%29 http://www.squidoo.com/what-is-blue-ocean-strategy http://noisebetweenstations.com/personal/weblogs/?p=2011#ixzz0zsAJGoMY http://cahdsu.wordpress.com/2009/08/04/infs-762-data-mining-at-netflix/

The Holocaust :: essays research papers

The Holocaust The Holocaust means a lot to many people today, and to an equal number of people very little. It shows we are still a young civilization in knowledge for the way we treat each other, whether it be for race or religion. To some of us in society who are Jewish the Holocaust means the death of many of our people. It stands out as the most current opposing action against a religion, and to memory the worst to anyone. And from this comes the most notable phrase from the Jews, "never again." Meaning that they will never let themselves as a religion be tortured, and enslaved again, at least not if they can help it. To many of us non Jews, whether it be Christian or Muslim or whatever, I think it is taken in a much more broader light. We see that the total destruction of a religion was at hand, but also see that it is not the first to come so close. But rather the most current. It is a simple and bold reminder that some people are just not very smart, and for that same reason we must look out for all to be at peace with all. To the few people who deny the occurance of the Holocaust and rather call it the Hocsacaust. The Holocaust just means exactly what is in the dictionary, "great or total destruction especially by fire." And by no means is the genocide of European Jews, and other groups by the Nazi Germany during WWII. To me the Holocaust means the most current gigantic thing to happen to a group of people. In my opinion, not the last either. To those of you who say that there is no way this is going to happen again, I laugh at you. It is a fact that there is a religous war going on right now in the middle east, and has been going on for as long as people can remember. For those who say that what is going on in the middle east is not a genocide, I'll just say that you are right so far but I would call a nuclear bomb which is the hottest thing on the

The Dark Romantics :: essays research papers

The dark Romantics describe life as evil, sinful, insane, and deceptive, which is more like life today. For example, the town’s people in the â€Å"Black Veil† can be seen as evil and sinful. The reason they are thought as evil and sinful is because they say things about him because he is wearing the black veil. This can be seen in Hawthorns the minister and the Black veil when Mr. Hooper says, †why do you tremble at me? Cried he turning his veiled face around the circle of pale specters. Tremble also at each other! Have men avoided me and women shown no pity, and children screamed and fled only for my Black veil? In addition Ahab in "Moby Dick" is considered not only as an evil and sinful person but is selfish and greedy. The reason why he is sinful, evil, selfish, greedy, mainly is because he didn’t care what the other people on the ship wanted or that what he was going to do would or could bring dangers, and what he was doing was a waste of time, because instead of getting vengeance on "Moby Dick". He could be hunting whales for food and selling what’s left of them and make money. Furthermore evil and sinful people today, like Charles Manson. The reason why he is considered an evil and sinful person is because he killed a lot of people. Another reason he is evil is because he said he was God. This is one of the many reasons why I agree with the Dark Romantics. The second reason out of the many reasons of why I agree with the Dark Romantics is because a lot of people are insane. For example, mad or insane people caused the Columbine tragedy. One of the crazy things they did was running around the school shooting and blowing things up. While trying to take as many life’s as they could. Another crazy or insane thing is the fact that they took pride in what they did. The reason I say they took pride in it . Is because they made a video that showed them laughing and saying that they were going to do all the stuff they did, and how they were going to do it. In addition, the mother who shot her kids is more proof that people can turn insane at any minute.

Poems of Edgar Allan Poe Essay

A tell-tale heart – essay The gradual descent into insanity is a common characteristic of Edgar Allan Poe as an auteur. This being one of Poe’s shortest stories separates itself from his other literature as it draws its focus onto the irony of the stalking, and confession of the murder of an old man. ‘The Tell-Tale Heart’ explores the mind of a mentally unstable and delusional individual on his descent to madness. In doing so the short story touches upon the contrasts between the rational and irrational. The ‘The Tell-Tale Heart’ presents two physical settings. It is clear from the narrator’s perspective that there is a change of setting. â€Å"Observe how healthily – how calmly I can tell you the whole story†, the narrator then continues, â€Å"It is impossible to say how first the idea entered my brain†. This passage indicates that the story that is narrated, is told in retrospect. The passage can be interpreted as being the narrator attempting to justify his murder and convince the reader that he is not mad as he can tell the story calmly and sanely. The passage can also be perceived as being directed towards the police officers that are introduced at the end of the story. In doing so the narrator might also try to convince the police officers that his deed was justified and necessary. The theme of insanity is shown through the narrators descend into madness. The narrator states that â€Å"very gradually – I made up my mind to take the life of the old man† which marks the beginning of his descent. It is made clear to the recipient of the story that the narrator believes he is sagacious in his lurking. However, the narration gives the impression that he is a madman. The narrator says â€Å"I undid the lantern cautiously-oh, so cautiously – cautiously† and also says â€Å"I kept pushing it on steadily, steadily† and â€Å"you cannot imagine how stealthily, stealthily†. The narrator’s reiterations present a sort of vocal tic which adds to his characteristic of being mentally unstable and mad. The story explores the contrasts between the rational and irrational. The theme of rationality is shown through the narrator’s attempts to rationalize his actions. The premise of the narrator’s suffocation of the old man is the ‘evil eye’ he has. Whenever the narrator gazes at the â€Å"dull blue† eye he experiences chills through â€Å"the very marrow† in his bones. This suggests that the old man’s eye terrifies him. It does, however, seem very unlikely that the old man has an inhuman eye â€Å"no human eye – not even his†. The rational explanation for the appearance of the eye that the narrator is fixated about, is that the old man is suffering from cataract. The disease bears a close resemblance to the eye of a vulture. This is proven by the narrator’s very similar description of the eye’s â€Å"pale blue, with a film over it† and â€Å"a dull blue, with a hideous veil†. This can also explain why the old man is never woken up or is disturbed by having the light shone into his â€Å"evil eye†. This is because he might be lacking vision in one eye. The narrator attempts to convince the reader that he is cunning and wise when observing the old man in his bed. The narrator’s irrational nature is emphasized in this passage where he very slowly enters the bedroom with only his head and lantern â€Å"It took me an hour to place my whole head within the opening so far that I could see him as he lay upon his bed†. The use of irony in the short story adds to the narrator’s complete unawareness of his own instability expressed through his lack of rational perception. The narrator contradicts himself implicitly. He states that he â€Å"loved the old man† and that â€Å"he had never wronged me†. This implies that he had no quarrels with the old man and therefore had no motivation for murdering him. He then contradicts himself by being excited by the old man’s â€Å"uncontrollable terror†. The theme of irony is also shown when the narrator hears the old man’s â€Å"groan of mortal terror† and recognizes the feeling. The narrator â€Å"knew the sound well†, he had experienced them himself being â€Å"welled up from my own bosom, deepening, with its dreadful echo, the terrors that distracted me†. This can be interpreted as the narrator explaining that he suffers from terrors which indicates that he has been or is feeling fear to the marrow of his bones and has experienced something horrific. This is also supported by the symbolism of the narrator burying the old man underneath the floorboards, which can be interpreted as him repressing his emotions and hiding them and then eventually being welled up when he confesses the murder. However, it is vaguely explained and remains a mystery to the readers. This corresponds well with the characteristic of the narrator which is only described implicitly. The narrator’s gender is not revealed. This might be because the gender of the narrator is not important to the story and that Edgar Allan Poe has written the story in such a way that the common reader assumes the gender of the narrator to be male. The most prominent ironic situation is the narrator’s own sagaciousness and over-acuteness that end up being the reasons for his confession to the police officers. His own hypersensitivity betrays him. This also supports his irrationality as he had confirmed the death of the old man when he felt his heart. He is however still convinced that the beating heart belongs to the â€Å"stone dead† man. This also shows his descent into madness as he perceives the noise as being a ringing in his ears, but then convinces himself that it is â€Å"the beating† of the old man’s â€Å"hideous heart†. He contradicts himself in this passage where he has previously described himself as cunning but is unable to correctly identify the source of the beating heart. ‘The Tell-Tale Heart’ is a story that largely focuses on the inability of the narrator to judge his own state of sanity. This is further supported by the narrator frequently being deceived by his own senses and even contradicting himself which diminishes his reliability. The topic of repressed emotions and the border between sanity and insanity is addressed by interpreting the narrator’s behavior and actions. This determines that the narrator is indeed a madman.

Supplier Relationships: a Strategic Initiative

Supplier Relationships: A Strategic Initiative Jagdish N. Sheth Goizueta Business School Emory University Arun Sharma University of Miami Jagdish N. Sheth is Charles H. Kellstadt Professor of Marketing, Emory Business School, Emory University and Arun Sharma is Associate Professor of Marketing, University of Miami. This paper extends research published by the authors in Industrial Marketing Management (March 1997). Please address correspondence to Arun Sharma, Department of Marketing, University of Miami, P. O. Box 248147, Coral Gables FL 33124, Telephone: (305) 284 1770, FAX: (305) 284 5326.Supplier Relationships: A Strategic Initiative* Abstract In an increasing competitive marketplace, firms are seeking new methods of enhancing competitive advantage. Today, purchasing is becoming a strategic function and a key factor in competitive positioning. This paper suggests that effective relationship with suppliers will provide firms with next-generational competitive advantage. With conso lidation of firms within industries, continuos product evolution and constant pressure on costs, supplier relationships will become more critical in the future.This paper discusses the emergence of supplier relationships, and how this shift toward supplier relationships has and will change the role, processes and strategies of firms. Although purchasing has strategic importance within a firm, good relationships between customers and suppliers are elusive. Firms, therefore, need to emphasize aspects that will enhance supplier relationships. * This paper extends research published by the authors in Industrial Marketing Management (March 1997). Supplier Relationships: A Strategic InitiativeIntroduction Firms are facing increasingly competitive environments characterized by continuos pressure on costs, large global players, continuously evolving products, customer fragmentation and emerging technologies. To ensure success, firms realize that they cannot be experts in all businesses and are concentrating on their core competencies. As an example, Westinghouse is selling its power and defense lines to concentrate on the broadcasting business. To enhance their performance in non-core competency areas, companies are reevaluating business relationships so as to form closer relationships with strategic suppliers [1, 2, 3].Firms have realized that collaborative business relationships improve a firm's ability to respond to the new business environment by allowing them to focus on their core businesses and reduce costs in business processes. In an earlier paper, we had suggested that the source of next-generational competitive advantage will be collaborative relationships that firms have with their suppliers [4]. We suggested four reasons for this phenomena. First, marketers or sellers are driving this change as firms have started identifying and catering to the needs of specific customers.Thus, having a relationship with suppliers will enable firms to receive better servi ce and therefore be more efficient in procurement. Second, firms recognize that supplier relationships will allow them to be more effective. It is easier to implement strategies such as quality platforms, if firms have relationships with their suppliers. Third, there are enabling technologies that allow firms to select their best customers and suppliers. Computer programs allow firms to calculate profitability Page 2 associated with each customer or supplier.Finally, competition and the growth of alliances are forcing firms to develop better supplier relationships to maintain a competitive edge. The purpose of this paper is to emphasize that supplier partnerships will provide a strategic advantage to firms. This paper identifies the benefits of supplier partnerships and provides guidelines for future supplier partnering. Shift in Organizational Strategy The reason for the emerging emphasis on supplier relationships is the shift in organizational buying strategies [4]. Organizational purchasing strategies have been dramatically changing for four reasons (please see Figure 1).First, global competitiveness had made firms realize the competitive advantages of creating and managing supply chain relationships. Second, emergence of the Total Quality Management philosophy has encouraged â€Å"reverse marketing† starting with external customers and moving backward into procurement processes. For example, Demand Driven Manufacturing or flexible manufacturing and operations have been instituted in order to serve the diversity of demand with respect to form, place and time value to customers. The role of suppliers is critical in this regard.Third, industry restructuring through mergers, acquisitions and alliances on a global basis has reorganized the procurement function from a decentralized administrative function to a centralized strategic function. This is further intensified by outsourcing many support functions such as data processing, and human resources. Fin ally, uses of information technologies have restructured the buying philosophy, processes and platforms by allowing firms to share market information and use market information to schedule design and manufacturing of products better. Page 3Fundamentally, the consequence of changing paradigms of organizational strategy is likely to result in a two dimensional shift as shown in Figure 2. Organizational purchasing strategy shifts from a transaction oriented to a relational oriented philosophy, and from a decentralized domestic sourcing to a centralized global sourcing process. Relationship with Suppliers As stated earlier, we suggest that developing relationship with suppliers will be critical for the effective functioning of firms. This trend is reflected in Table 1 that shows that large firms have substantially reduced their number of suppliers.This trend also suggests that some suppliers would be exclusive to firms. The primary reasons are that corporations are becoming leaner. The procurement function is becoming more centralized while the profit-and-loss (P) responsibility of firms is becoming less centralized. Business-unit heads are raising more questions about the way things are bought. And as vertically integrated companies – those that have complete internal capabilities and are self-sufficient – become relics and outsourcing of operations become a reality, more opportunities to partner with suppliers will arise.Taking advantage of these opportunities is increasingly important for several reasons: †¢ Declining market prices. Nobody expects prices to rise anymore. There is going to be a tighter squeeze on the margins of customer companies. They would like to get that margin reestablished by working with suppliers. †¢ Rising competitive intensity. With the restructuring of the world economy, the formation of the World Trade Organization, and greater economic integration within and between regions, global and regional consolidation is clearly taking place and resulting in greater Page 4 competition. Advanced technology enablers. Electronic commerce and networked computing are here. Dramatically reduced cycle times are becoming an ordinary achievement. These require partnering with suppliers. †¢ Reverse marketing strategies. The traditional process flow – from R and sourcing to manufacturing, sales and service – is becoming a thing of the past. Today, market-focused organizations are organizing into reverse marketing – starting with the end users. Partnering with suppliers is critical to this strategy. †¢ Strategic positioning. In the past, companies partnered primarily for operational efficiency (i. . , just-in-time procedures or zero-inventory models). Today, intense competition is coming from existing rivals, new entrants and the threat of substitutes. Partnering with suppliers is an increasingly important way of minimizing the competition’s negative impact on an industr y. Example of Companies Benefitting from Supplier Relationships The major research regarding the advantage of supplier relationships comes from a study of the Japanese automotive component industry [5]. They found that the average length of the relationship between suppliers and buyers was 22 years.In addition, the major customer bought about half the output of the supplier firm. About 26% of the supplier’s development effort was devoted to a single customer. Competition was restricted to 2-4 other suppliers. Finally, the quality of delivered product was very good. The data would suggest that supplier relationship enhanced the design efforts of the buying company and reduced uncertainty and costs for the Page 5 supplier company. Eastman Kodak, Ford Motor Company, Levi Strauss, DuPont , McKesson and Bose corporation demonstrate that some savings can be achieved by supplier relationships [2].These firms as well as examples of other firms using specific tactics to benefit from s uccessful relationships are discussed next: Eastman Kodak Company: Eastman Kodak Company has outsourced its data and information processing system to IBM. Kodak has achieved substantial cost savings through reducing personnel, assets and capital expenditures in an area that is not its area of core competency. This shift toward asking data processing and systems management consultants to manage the information and data processing of a firm has accelerated as major firms such as Xerox and Ryder have outsourced their internal data processing systems.Ford Motor Company: Ford formed a relationship with one of their own clutch suppliers. Ford examined the production process of their supplier and was able to reduce the cost of the clutch by 20% benefitting both Ford and the clutch supplier. Similarly, based on their past experience with Donnelly, Honda picked Donnelly as an exterior mirror supplier, although Donnelly had no experience in the area [3]. Honda sent its engineers into Donnelly ’s plant, and Honda and Donnelly engineers reorganized the plant and re engineered the product process.Sales are expected to be $60 million in 1997 and costs are expected to decline 2% annually benefitting both Honda and Donnelly. JC Penny and Levi Strauss: JC Penny and Levi Strauss are linked with an electronic Data Page 6 interchange (EDI) that allows Levi Strauss to obtain sales data. Levi Strauss obtains data on the exact size of jeans sold in individual stores. This data allows Levi Strauss to better plan the production process as well as better control inventory and delivery. This saving leads to a reduction in costs and prices benefitting both JC Penny and Levi Strauss.DuPont: Dupont has reduced the costs of each purchase transaction in the maintenance and repair supplies division from $120 to $16 by working with a smaller number of suppliers. DuPont selected one distributor in each region for a supplier relationship. They then implemented a paperless order, receipt an d payment process. In addition to decreased costs of transaction, inventory at the maintenance and repair facilities were reduced by 50%. McKesson Drug Company: McKesson a major drug distributor, developed a relationship with Johnson and Johnson, one of their major suppliers.Through a joint computer system development effort, both firms receive data on inventory, point of sale, demand, and customer information. This has led to Johnson and Johnson providing better service to McKesson increasing the level of service that McKesson provides to its customers. Due to the success of the relationship, Johnson and Johnson has turned over a million dollars worth of business to McKesson. Bose Corporation: Bose corporation has attempted to eliminate both purchasers and salespeople by bringing suppliers into the manufacturing process.Suppliers have access to Bose’s data, employees and processes. They work with Bose’s engineers on present and future products. The Page 7 reduction in personnel reduces costs for both sides, and a direct contact between the user and producer enhances quality and innovation. Establishing and Maintaining Supplier Relationships Wilson [6] suggests that the majority of alliances fail. We feel that most of the problems are associated with the selection and maintaining of supplier relationships. We present research finding from academic research, USGAO [2] and our own experiences.In order to establish relationships, we suggest that firms be very selective in their criteria. In addition to the normal criteria of competency and quality, we suggest the following additional factors be taken into consideration: †¢ Trust and Commitment to Long-term Goals. Both suppliers and buyers need to demonstrate trust and commitment toward a long-term vision. Trust and commitment have been shown to be the major predictors of successful relationships. †¢ Mutual Benefit. The relationship should be of benefit to both the buyer and the seller.If t he relationship has one-sided benefits, the relationship will not last. †¢ Top Management Support. Most successful relationships are associated with support from the top managers of a firm. As examples, the success of Walmart and Corning in forming relationships is because their CEOs have supported supplier relationships. Also, DuPont and Roadway Express have formed an Executive Board that meets at both companies to enhance their relationship [2]. †¢ Compatible Organizational Culture. The culture of firms should be compatible. This Page 8 uggests that they share common values and share common reward systems. A major relationship initiative between two telecommunication firms did not work because they did not share a common work philosophy. One firm was very intense, whereas the other firm was laid back. The relationship dissolved in six months. †¢ Sharing of Information. Relationships require sharing of information. The benefits of relationships arise from reducing th e uncertainty associated with transaction oriented exchanges. Information increases certainty and reduces needless interaction.As an example, Bailey Controls, a manufacturer of control systems shares data with two of its main electronic distributors that has allowed Bailey to reduce inventory and costs [3]. †¢ Strong and Open Communications. Strong and open communications reduces misunderstanding and enhances the quality of relationships. Maintaining Successful Relationships The following aspects are regarded as important for the successful maintenance of relationships. †¢ Simple and Flexible Contract. Simple and flexible contracts enhance relationships as they are used as guides rather than specifying all contingencies.For example, when Kodak outsourced their computer support services to IBM, they used an eleven-page contract [2]. In contrast, typically simple business contracts run to about 30 pages. †¢ Intensive Management Involvement. Cross functional teams from b oth the supplier and buyer organizations that meet periodically to enhance their relationships. For example, Ford uses salespeople to provide suppliers with consumer feedback [2]. Page 9 †¢ Periodic Performance Monitoring. We have found that performance monitoring is critical for relationships. Suppliers also appreciate a formal performance evaluation method.As an example, Motorola evaluates and generates a score card for all of its suppliers [3]. The supplier’s next order is based on the supplier’s previous performance. Suppliers appreciate this knowledge and compete better. †¢ Internal Controls. It is intuitive but companies need to protect access and distribution of confidential information with rigorous internal controls. †¢ Problem Solving Procedures. Companies need to establish problem solving procedures that reduce conflicts or prevent conflicts. One of the simplest forms is frequent communication at all levels of the customer and supplier organiz ation.Organizational Changes Need to Establish Supplier Relationships As stated earlier, as we traverse from a transaction and domestic orientation to a relationship and global orientation, firms will need to emphasize the development of relationship with suppliers. This emphasis of a relationship orientation toward suppliers will lead to an expertise in many aspects of business buying. These areas are highlighted in Figure 3, raised in our earlier paper [4] and discussed next. 1. Supplier as a Customer. As discussed earlier, there will be a thrust toward developing and maintaining relationship with customers.However, firms’ understanding in this area is very limited. Firms will need to develop commitment, trust and cooperation with their suppliers. Firms will need to invest in mutual goals, interdependence, structural bonds, adaptation, non Page 10 retrievable assets, shared technology and social bonds to ensure successful relationships [6]. 2. Cross-Functional Supplier Team s. Marketers have used interdisciplinary teams to contact and maintain relationships with their customers. As individual suppliers relationships become more important we expect a similar thrust toward cross-functional teams that are dedicated or focused on their key suppliers.The importance of individual suppliers is expected to increase because of the emergence of sourcing on a global and relational basis with a few key suppliers. Firms will need to change goals, reward structure and group norms of the purchasing function. 3. Does Partnering Pay? Firms will need to monitor the return on investment in establishing relationships with suppliers. Therefore, firms will need to develop a performance metric that analytically quantifies supplier relationship equity. We feel that supplier partnering with smaller share suppliers will not be economical.The cost-benefit analysis of supplier relationships should result in increased supplier selectivity. 4. Supply Experience Curves. Managing sup plier relationships will not be an easy task. The task of managing relationships on a global basis will be more complex and not analogous to domestic supplier management as most business customers have realized. Therefore, in industries where supply function is a key strategic advantage, companies need to focus on creating core competency in supply side management and develop sharper experience curves. Page 11 5. Hub and Spokes Organization. We expect organizations to reduce the number of uppliers in each product or service category. In addition, re engineering has forced firms to out source internal activities. We expect the results of these two trends to lead to a hub and spoke organization in which one or two suppliers in each product or service category are the spokes and the procurement organization becomes the hub on a global basis. 6. Bonding with Suppliers. Marketers, specifically those that practice relationship marketing have learned to bond with their customers. Bonding r elates to the empathy that the marketing organizations feel toward their customer groups.With an increasing trend toward creating, managing, and enhancing ongoing relationships with suppliers on a global basis, organizations will have to invest in supplier bonding processes and philosophies. 7. Global Sourcing. We expect global sourcing to be a source of strategic advantage. While several global enterprises, especially in the automotive, high technology and the aerospace industries are establishing processes and platforms, it is still at an infancy stage of practice in other industries. Firms will have to develop expertise in global sourcing strategies as well as global logistics. . Cross-Culture Values. Firms will need to be more aware of cross-cultural values. These values may be in conflict with the firm’s present value system. As an example, firms in the US are accused of focusing on short-term profitability whereas firms in Japan are concerned about long-term positioning . Similarly, in some cultures, reciprocity is declared illegal and unethical Page 12 whereas in other cultures it is the preferred way of doing business. What is considered as an agency fee in one country is recognized as a bribe, subject to prosecution under the anticorruption laws.Similarly, doing business with family members and politically connected individuals are presumed to provide a sense of trust and commitment in some cultures whereas it is considered as nepotism and unethical behavior in others. 9. Cross-National Rules. Firms will also have to learn about cross national rules. Specifically, the two tier regulations (one for domestic and the other for foreign enterprises) are common with respect to ownership, management control, and co-production practices in countries such as China.With the rise of nationalism in recent years, this has become a key issue for global enterprises such as McDonald's, Coca-Cola, General Electric, and Enron, especially as they expand their mark et scope and supply scope in large emerging nations such as India, China, and Indonesia. 10. Services Procurement. As organizations out source more and more internal services, and as suppliers engage in providing value-added services to their customers, firms need to better understand and research services procurement. Additionally, as most advanced countries are services economies, services procurement will rise in prominence.Conclusions The paper examined the reasons for the emergence supplier relations as source of Page 13 competitive advantage. The paper discusses successful relationships, rules for developing relationships and concludes with organizational strategies that will enhance supplier relationships. Page 14 References 1. Napolitano, Lisa, Customer-Supplier Partnering; A Strategy Whose Time has Come, Journal of Personal Selling and Sales Management, 4 (Fall), 1-8 (1997). United States General Accounting Office, Partnerships: Customer-Supplier Relationships can be Improv ed through Partnering, Report Number 94-173, Washington, D.C. (1994). Magnet, Myron, The New Golden Rule of Business, Fortune, February 21, 60-64 (1994). Sheth, Jagdish N. , and Arun Sharma, Supplier Relationships: Emerging Issues and Challenges, Industrial Marketing Management, 26 (2), 91-100 (1997). Wasti, S Nazli, Jeffrey K. Liker, Risky business or competitive power? Supplier involvement in Japanese product design, Journal of Product Innovation Management, 14 (September), 337-55 (1997). Wilson, David T. , An Integrated Model of Buyer Seller Relationships, Journal of the Academy of Marketing Science, 23, 4, 335-45, (1995). Emshwiller, John R. Suppliers Struggle to Improve Quality as Big Firms Slash their Vendor Roles, Wall Street Journal, August 16, B1, (1991). 2. 3. 4. 5. 6. 7. Page 15 Table 1 Reduction in the Number of Suppliers Company Number of Suppliers Current Previous 5,000 10,000 9,000 10,000 1,800 22,000 520 7,500 Percentage Change 90. 00% 70. 00% 66. 66% 45. 00% 44. 44% 36. 36% 26. 92% 20. 00% Xerox Motorola Digital Equipment General Motors Ford Motor Texas Instruments Rainbird Allied-Signal Aerospace 500 3,000 3,000 5,500 1,000 14,000 380 6,000 Source: Emshwiller [7]. Page 16 Figure 1 Changing Paradigm of Organizational Purchasing StrategyGlobal Competitiveness Technology Enablers Changing Paradigms of Procurement TQM Philosophy Industry Restructuring Page 17 Figure 2 Shift in Organizational Purchasing Strategy Global Sourcing Changing Paradigms of Procurement Transaction Oriented Relationship Oriented Industry Restructuring Domestic Sourcing Page 18 Figure 3 Emerging Areas of Expertise in Supplier Relationships Service Procurement Supplier as a Customer Cross Functional Supplier Teams Cross-National Rules Partnering Cross Cultural Values Supply Experience Curve Global Sourcing Bonding with Suppliers Hub and Spoke Organization Page 19