Grace Hospice Of Texas Provides Quality Professional Care

Grace Hospice mission statement is Grace Hospice of Texas provides quality professional care and compassionate support for terminally ill patients and their families with his grace. (Introduction to Hospice Care 2) (National Hospice and Palliative Care Organization, 2015) Grace Hospice basic service provide end of life care and understanding of death as a natural process of life, and Grace Hospice offer palliative and comfort care; meanwhile Grace Hospice assist the family in caring for their loved one at home through an interdisciplinary team of professionals. Grace Hospice is a public organization. (Introduction to Hospice Care 2) (National Hospice and Palliative Care Organization, 2015) Hospice originated in Great Britain back in 60’s by Dame Cicely Saunders, who felt the need for palliative cure for diagnosed with terminal illness. In 1892, hospice became funded through Medicare Benefit Program after many years of lobbying for funding was established. (Introduction to Hospice Care 2) (National Hospice and Palliative Care Organization, 2015) Grace Hospice agency mission supported social works values by importance of human relationships. Social workers use human relationship to promote change in individuals, families, groups, and communities. An example, is if we discussed an issue with a family member we also involved the patients to make sure the patient knew what we saying about them.(Social Work and Social Welfare 15) Grace Hospice ethical codes provide 1) respect forShow MoreRelatedManagement Course: Mba−10 General Management215330 Words   |  862 Pagesincreasing complexity in business action and decision making. It has presented chief executive officers (CEOs) and management leaders in all markets and industries with new intricacies in deciding how to weigh and time the business decisions—and the quality of those decisions—that increasingly challenge their companies’ basic survival. W HICH FACTORS HAVE DRIVEN 3 4 Feigenbaum−Feigenbaum: The Power of Management Capitol 1. New Management for Business Growth in a Demanding Economy

Nonverbal Communication And Interpersonal Communication Essay

Although unrecognized, Nonverbal Communication is used daily. Nonverbal Communication has many twists and turns. You can never fully understand what someone else is thinking. You can take a guess through their gestures, and facial expressions, but even then inaccuracy prevails. Nonverbal Communication (term) All forms of communication other than words themselves; includes inflection and other vocal qualities as well as several other behaviors such as shrugs, blushing, and eye movements. (Wood 2015) Nonverbal Communication portrays five behaviors, but I am going to discuss three. The first behavior I will discuss is Kinesics. Kinesics exemplifies body motions, facial expressions, and body positions. You can tell when a professor is confident and fully understands the subject they are lecturing about. They will often stand straight up and speak loudly, they are not afraid to tell you what they know. 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HR Dissertation †Iconicity and hubris Free Essays

string(44) " a desirable vision of iconic architecture\." Abstract This paper outlines the importance of iconicity and hubris in the context of modern architecture. Significant applications of the phenomenon identified as Starchitects and their contribution to developing a new mode of architecture are presented in this study. The main objective of the study is to explore the failures of iconic buildings created by Starchitects, by focusing on various aspects including economical and political, social and ethical, and environmental and evolutionary. We will write a custom essay sample on HR Dissertation – Iconicity and hubris or any similar topic only for you Order Now In order to meet these research objectives, the researcher uses non-empirical research method in the sense of collecting relevant information from secondary resources. The most important conclusion presented in the study is that iconic buildings are perceived as egocentric representations of the improperly constructed ambitions of Starchitects. Chapter 1: Introduction In the 21st century, global developers have demonstrated their strong willingness to use the potential of Starchitects in order to create monumental buildings. The boom of Starchitects in modernity can be explained with the rapid process of globalisation as well as economic progress and development (Marshall, 2000). Designs of such architects are usually perceived as iconic dominated by extensive visibility and unique characteristics that contribute to the appeal of these buildings. It has been argued that the use of Starchitects is an innovative way to expand tourism in different sites across the world. The design of prestige buildings around the world has been marked by the simple idea to make a difference in producing specific landmarks for cities (King, 1990). The motives for the establishment of particular landmarks adhere to the specificity of Starchitects who are a product of their sponsors and organisations, which actively seek to present continuous innovation in the architec tural field. Different examples of iconic buildings can be found globally, such as the Imperial War Museum North (2002) based in Greater Manchester, UK, and the Seattle Central Library (2004) based in Washington, US. Similar buildings have been highly criticised since the time of their construction. This implies the existence of controversies surrounding some of the most famous buildings around the world especially at modern times. Perceived as an attitude, modernity can coexist with traditional architectural patterns. Modernity is mainly concerned with transformation of the present and tries to ensure such an aspect in emblematic buildings. Modern architectural patterns as evident in the pieces created by Starchitects implement the latest in composite materials and composite structural technology (Marshall, 2000). Accordingly, the growth of the cities has generated the needs for the incorporation of all the elements that define a developing civilisation, allowing them to seek out identity in the infrastructural resources that are found within them and their capability to communicate with others and represent themselves in international entrepreneurial matters (Reutskaja and Nueno, 2009). While the development of the architectural landmarks creates the possibility of increasing the tourism attraction to the sites, expositions and events are necessary to highlight and showcase these developments thus creating a means of investment for the local authorities and foreign investors. The main aim of the study is to provide a relevant understanding of the aspects of iconicity and hubris as applied to the work of Starchitects. The following objectives have been outlined for the study: To outline the economic and political failures of iconic buildings; To discuss the impact of social and ethical failures of iconic buildings; To present environmental (urban natural) failures of iconic buildings; To explore the relevance of evolutionary perspectives Chapter 1 is introduction and sets the context for the present study. Chapter 2 is the literature review providing adequate information relating to the explored topic in the thesis. Chapter 3 outlines the research methodology used in the study. Chapter 4 consists of research findings, discussion and analysis of findings. Chapter 5 concludes the study and provides specific recommendations pertaining to the main research questions and objectives. Chapter 2: Literature Review Three important subject matter terms identified in this thesis are Starchitects, iconicity and hubris. A Starchitect is referred to as an architect who is quite famous as a result of the high-profile creations being presented by him or her to the public (Reutskaja and Nueno, 2009). Iconicity is a term relating to the specific characteristics of an icon or something emblematic in the context of architecture (Glendinning, 2012). Hubris indicates a high level of self-assurance and thus is identified as extensive pride or self-confidence. In a book by Glendinning (2012), the focus is on the pitfalls of global modernism demonstrated in the creation of various architectural buildings globally. The main argument introduced by the researcher is that architecture has been apparently spectacularised, which has led to alienated architectural pieces and individuals. It has been indicated that the so-called iconic buildings have insignificant social and historical integrity, implying that the aspect of iconicity has been replaced by triviality that shows inappropriate identified architectural objectives (Jacobs, 1961). The type of iconic buildings created by famous Starchitects has expanded criticism in recent years, as outlined by Glendinning (2012). These buildings have been presented as competing for attention on the skyline and in the mass media. Similarly, Sudjic (2005) indicates doubts in the authenticity and properly intended purpose of iconic buildings. Moreover, researchers have considered iconicity as a distinct type of architectural tourism, which reflects in buildings intended for urban travel destinations (Specht, 2014). Kent (2010) implies that architecture’s status has been changed from iconic to extraordinary in the process of exploring architectural buildings’ effect on a sense of place. Such a sense has been explored by Rybczynski (2008) with a focus on the Bilbao effect or the Bilbao anomaly representing a costly iconic failure. The Bilbao effect, as shown in an article by Martin (2013), creates controversies and thus the researcher presents a warning about the perceived negative impact of Starchitects’ iconic buildings on local cities and states. Iconic architecture has been identified as a substantial failure, as argued in an article by Romaniuk (2010). The author of the research has presented convincing arguments relating to the manipulation of the mass media trying to create a desirable vision of iconic architecture. You read "HR Dissertation – Iconicity and hubris" in category "Essay examples" Such manipulation is evident in emotionally charged architectural projects including the Freedom Tower for Ground Zero (Romaniuk, 2010). It has been argued that the decline of belief and the extensive growth of pluralism have led to the emergence of iconic buildings that are unable to fulfil the objectives of authentic iconography (Reutskaja and Nueno, 2009). In addition, the legitimacy of identifying particular buildings as iconic can be judged with time, disregarding the mass media’s projected implications of successful architectural buildings solely based on sociological and financial profitability. Based on the maj or studies presented in the literature review, it can be concluded that buildings should be constantly assessed in terms of the values with which they are associated. Chapter 3: Research Methodology The type of research methodology used in this study is non-empirical research design, which is suitable to explore the relationship between iconicity and hubris. Arguments are based on evidence and credible opinion provided in secondary resources (Yanow and Schwartz-Shea, 2006). The major aspect relating to non-empirical research is the focus on data previously gathered by researchers in the field of architecture rather than gathering a new set of data. This research framework is often associated with the purposes of humanities and natural philosophy. One of the most important elements of this type of research methodology, as applied in the present study, is review of existing literature as the focus is to provide sufficient arguments in order to accomplish the previously stated research objectives (MacNealy, 1998). The systematic review of existing literature on the subject implies not only prior knowledge and adequate research skills but also ability to use a distinct form of meta- analysis in an attempt to reach conclusions which are important for the study. It has been noted that non-empirical research analysis suggests a significant amount of varying interpretations of the information obtained from secondary resources. A strong sense of intellectual inquiry is essential in this type of research because the process of acquiring knowledge is accomplished through valid critical and analytical interpretations of the research material (MacNealy, 1998). In fact, it is important to emphasise on the reinterpretation of consolidated information on the issues of iconicity and hubris within the new framework presented in this study. Thus, critical reflection is part of non-empirical research analysis, which is demonstrated in the present research. There is a solid focus on propositions for theory relating to the iconic dimensions of modern buildings across the world (Yanow and Schwartz-Shea, 2006). The development of a particular approach to the present study is a well-structured process that starts with the identification of a focal issue, in pa rticular the exploration of iconicity and hubris including their impact on the perception of emblematic buildings created by Starchitects. Once the first step outlined in the research approach is completed, it is important to move into a direction of identifying key forces contributing to a better interpretation of the research problem. The researcher is expected to postulate such driving forces as well as to present the factors that have been considered the most significant for the completion of the research (Deleeuw et al., 2010). In addition, it is anticipated that systemic logic should be used to present critically the major arguments obtained from secondary resources. The final step of the presented research approach is to submit the entire research to critical consideration (Yanow and Schwartz-Shea, 2006). It can be concluded that the acquisition of non-empirical knowledge can facilitate the process of obtaining relevant information, which would further expand the research to a new stage in the sense of providing an adequate answer and explanation to the research question. Chapter 4: Research Findings Discussion and Analysis of Findings The main research findings obtained from the critical evaluation of secondary resources are grouped in different subsections of this chapter in order to focus on emerging aspects relating to iconicity and hubris in a more direct manner. Economical and Political Instances/ Cases of Failure A significant research finding demonstrated in this study is that of the impact of creating iconic buildings on the economy. Specific cases indicating hubris refer to Calatrava and Valencia, as Valencia has been recognised as a city of arts and sciences. Starchitects’ sense of hubris is evident in these cases and comes to show that architecture has entered a new mode of development. Although praised by some and rejected by others, the emblematic buildings created by Starchitects imply a substantial amount of efforts invested in presenting the philosophy of iconicity in architecture (Glendinning, 2012). According to Martin (2013), the opening of the Guggenheim Museum in Bilbao serves as a relevant example of how iconicity has been used as a substantial indicator to measure the direct impact on the economy. It can be suggested that the creation of iconic buildings around the world, such as in locations in Saudi Arabia, Australia, Albania and Brazil, has raised the question of th e perceived economic effect of similar activities (Reutskaja and Nueno, 2009). The dimension of commercialisation cannot be disregarded, as the sole motivating factor behind the so-called iconicity and hubris can be found in the idea of generating substantial profits from architectural tourism, which is dominated by emblematic building. Another essential aspect can be also indicated in terms of considering Starchitects’ intention to fill vast spaces, but this tends to create a negative effect among some individuals. According to researchers, the hostage of international mega events is one of the most powerful tools that a city can use for show-casting of resources and development, as well as the development of architectural identities that have come to be defined within the industry as ‘destination images’ (Reutskaja and Nueno, 2009). In this context, specific contemporary events have come to be synonymous with commercial rivalry between cities as well as the transnational environment, as different regions struggle to attract more investors and consumer spending. In light of this, with the increase in pressure for the cities to expand their entrepreneurial stance as they aim at increasing their attraction to mobile capital, the cities have to make considerations on their investments. It would be less economical for them to carry out development if they are not going to realise monetary gain after the renovations. Strong competition is existent within most of today’s cities-th e competition being amongst the city investors themselves as well with other cities that may wish to host different events and expositions that are aimed at increasing the economic wellbeing of the region. For this reason, the completion of iconic buildings by Starchitects has increased from the regional and local scenes, stemming into international and global scales and requiring the integration of the political, social and infrastructural frontiers (Glendinning, 2012). Accordingly, the growth of the cities has generated the needs for the incorporation of all the elements that define a developing civilisation, allowing them to seek out identity in the infrastructural resources that are found within them and their capability to communicate with others and represent themselves in international entrepreneurial matters (Martin, 2013). While the development of the architectural landmarks creates the possibility of increasing the tourism attraction to the sites, expositions and events ar e necessary to highlight and showcase these developments thus creating a means of investment for the local authorities and foreign investors. For the most part, the mere presence of a beautiful square or a religious monument within a city cannot be enough for the modern city. In order to gain recognition as a modern city of the 21st century, a large portfolio of architectural development projects is necessary so increase the output, aesthetics and general appeal of the city to the outside world, as it is illustrated in the case of iconic buildings (Glendinning, 2012). The portfolio includes various strategies that are used by the local development councils in increasing the architectural resources found within the premises as well as the input by multinational organisations within this development in lieu of the rules that are used by Starchitects. As growth is experienced in today’s cities, individuals can witness how similar design implementations are used in different cities, with transformations of the existent architectures aiding in the provision of superiority and identity (Marshall, 2000). The last two decad es have seen the rise of the ‘megacity’ phenomenon, with small scale and often ‘off the grid’ cities being uplifted to city stardom through the regeneration of existent architectures and the inclusion of socio-cultural events around the creation of these resources. As global cities develop, cultural and communal events have been moved to these venues creating a sense of appreciation for their existence and a need for their improvement. Another finding that emerged from the research is that iconic buildings are perceived as a powerful tool to redefine the economical and political image of cities and countries in which they are constructed (Reutskaja and Nueno, 2009). The economic impact of these buildings has been extensively considered in order to present adequate conclusions about the state of regional economies. It cannot be denied that the presence of many iconic buildings in different locations across the world has improved the economic well-being of residents. Based on the results obtained from conducting non-empirical research, it can be argued that there are both cases of economical and political successes and failures associated with the construction of iconic buildings. This finding is confirmed in a research by Reutskaja and Nueno (2009) who provide evidence of the positive impact on employment in the region due to the emergence of iconic buildings and the essential element of hubris attached to them. The construction of such buildings is directly linked with the creation of a substantial number of jobs in different countries as well as greater contribution to the local government budgets in terms of taxes and duties. Another positive economic impact is related to additional employment in manufacturing processes for organisations that are responsible for the construction of iconic buildings. However, the negative economic effects of the erection of emblematic buildings should not be ignored (Rybczynski, 2008). For instance, a significant economic drawback is associated with the higher fees that are usually charged by Starchitects, indicating their egocentric factors of motivation used in the construction of similar buildings. A consideration of the challenges of cost estimations and over-budgeting should be considered in order to determine the precise economical and political impact of iconic buildings. Social Ethical Instances/ Cases of Failure The representation of iconic buildings has been also linked with specific social and ethical implications. There are extensive examples that indicate hubris of the involved Starchitects. These are Zaha Hadid’s Qatar Stadium and Patrik Schumacher’s rant at 2014 architecture biennale. It appears that the mentioned buildings carry out the ‘pride’ of their creators in terms of involved efforts to make a lasting impression on the public. Moreover, it has been discovered that the aspect of public alienation is among the main factors contributing to the increasing social and ethical instances of failed iconic buildings. Starchitects have been identified as losing their appeal because they have consistently adhered to the philosophy of constructing architectural buildings of excess (Glendinning, 2012). As a result, it frequently appears that architectural design of certain buildings around the world is dominated by excessive elements, which create an irrelevant per ception among people. The present study also indicated that architecture is in a new era of development in the sense of focussing on the possibilities that technology has to offer. Yet, this raises the question whether such modern architecture succeeds in serving the needs of humanity (Kent, 2010). The answer to this question is complex considering the multiple effects created by the specific line or mode of architecture followed by Starchitects. However, it can be stated that architecture apparently emerges as an art that cannot be avoided by any means. An ethical instance of failed iconic buildings is related to the morality and controversy of such pieces of modern architecture. For example, Patrik Schumacher was accused of being motivated by an aspect identified as ‘misguided political correctness’. It has been argued that architects should try their best not to confuse architecture and art. A relevant finding revealed in this context is that architecture is actually found in charge of the specific form of the built environment (Glendinning, 2012). It is important to emphasise that one of the major duties of architects in contemporary society is to deliver a strong aspect of social justice. However, it should be indicated that Starchitects’ works have raised a series of ethical and moral concerns (Martin, 2013). In Qatar, migrant workers died at a stadium which is currently under construction, as this intensifies social anxiety and fear relating to the purpose and means utilised by Starchitects in their egocent ric representations found in modern buildings. It has been claimed that architects are not responsible for the death of these migrant workers, but the question of the moral and ethical parameters of such iconic buildings still remains persistent in the minds of individuals. Environmental and Evolutionary Instances/ Cases of Failure Evolutionary Perspectives The issue of discussing Starchitects’ hubris reflects in numerous examples, such as Lloyds building and Calatrava Valencia. The main aspect that was revealed in the study from an environmental perspective is that of the creation of defective masterpieces of architecture. It can be argued that such architectural creations have been resulted of the over-ambition of Starchitects (Glendinning, 2012). The example of Lloyd’s of London as anticipating leaving its iconic headquarters clearly illustrates the assumption of environmental failure. In fact, it has been indicated that the major problem with this building is its exposure to the elements making it an extremely costly structure (Martin, 2013). Cases of failure like this one point out that the technological advances of modern architecture have outpaced the simple ability of Starchitects to adeptly utilise them. The failure of emblematic buildings to meet strict functional requirements is indicative of their inappropriat e environmental impact. Another example of a failed iconic building, as seen through the environmental lens, is seen at Calatrava’s City of Arts and Sciences complex in Valencia. Only eight years after the completion of this project, certain parts of the construction started falling off. Such an instance of architectural failure confirms major findings outlined in the literature review section regarding the failures of contemporary iconic buildings (Reutskaja and Nueno, 2009; Romaniuk, 2010). The research findings indicated that both architects and developers are extensively focussed on erecting icons, but the results frequently turn out in a negative direction. The ambitions of Starchitects seemed to have contributed to the emergence of inappropriately maintained pieces of architecture in modernity (Romaniuk, 2010). In this sense, it can be argued that the architectural fabric is completely disregarded by Starchitects. Yet, a main problem created with iconic buildings is that they often produce one-lined response, which has become rather problematic for the entire functioning of the cities where these buildings are situated. Assessing the environmental impact of iconic buildings is a complex process relating to the interrelations of factors such as place, function and history (Rybczynski, 2008). Based on the research findings outlined in this study, it is important to state that iconic buildings have completely changed their status in the sense that people more and more start abandoning the idea of iconicity attached to similar pieces of modern architecture. The negative environmental impact of emblematic buildings cannot be ignored in the discussion of the ambitions of Starchitects and how those ambitions reflect in the buildings constructed by them. Changing the status of Starchitects’ buildings from iconic to extraordinary one is indicative of the way the public has altered its perceptions regarding the contributions of modern-day architects. Chapter 5: Conclusion and Recommendations This paper explored the implications of iconicity and hubris relating to architectural pieces created by Starchitects. Numerous aspects associated with this issue have been thoroughly investigated to include different perspectives and instances of hubris, such as economical and political instances of failure, social and ethical instances as well as environmental instances of how the concept of iconicity in modern architecture has been unsuccessful. It has been concluded that these architectural creations are merely economically and socially disruptive egocentric representations of the irrelevant ambitions manifested by Starchitects. The study illustrated how these emblematic constructions built by Starchitects have presented main failures with long-term social and ethical implications (Glendinning, 2012). As a result, it was demonstrated that the creations of Starchitects cannot be perceived anymore as iconic, as the aspect of iconicity has been simply replaced by so-called extraordi nary dimensions of perceiving similar buildings (Martin, 2013). The research method used in this study referred to the framework of non-empirical research analysis, which has been found suitable to meet the study’s main aim and objectives. This type of method allowed for greater flexibility in exploring specific concepts related to the impact of iconicity and hubris on the development of modern architecture (Sudjic, 2005). Moreover, the study identified that architecture has entered into a new stage of development with both positive and negative aspects that should be discussed thoroughly to understand the specific impact of Starchitects’ ambitions (Glendinning, 2012). However, certain limitations can be identified for the present study. The major limitation refers to the use of non-empirical research method. Instead, the researcher could have utilised empirical research method that could have contributed to achieving greater credibility and reliability of research findings (MacNealy, 1998). Another limitation relates to the specific literature that has been selected for obtaining results. Broader literature could have been used to cover the main arguments illustrated in the study (Yanow and Schwartz-Shea, 2010). In terms of recommendations, it is essential to note that the explored subject is quite complex and thus requires the implementation of multiple perspectives to understanding the wide array of impacts relating to the architectural works of Starchitects. Thus, it is recommended to conduct an in-depth primary research involving modern architects from different countries, as they can provide insightful suggestions regarding the development of a modern era in architecture (Glendinning, 2012). This recommendation also indicates a solid focus on including suggestions for future research in the field in order to bring the topic of iconicity and hubris of architectural buildings to new horizons of research exploration (Martin, 2013). A potential subject that may be investigated in a future research refers to people’s opinion on the impact of iconic buildings for the long-term development of their cities. References Deleeuw, J., Meijer, E. and Goldstein, H., eds. (2010). Handbook of Multilevel Analysis. Santa Monica, CA: Springer. Glendinning, M. (2012). Architecture’s Evil EmpireThe Triumph and Tragedy of Global Modernism. London: Reaktion Books. Jacobs, J. (1961). The Death and Life of Great American Cities. New York: Random House. Kent, F. (2010). Toward an Architecture of Place: Moving beyond Iconic to Extraordinary. Project for Public Spaces [online]. Available at: http://www.pps.org/reference/toward-an-architecture-of-place-moving-beyond-iconic-to-extraordinary/ [Accessed on: 18 Oct. 2014]. King, A. D. (1990). ‘Architecture, Capital and the Globalization of Culture’. Theory, Culture and Society, vol. 7, pp. 397-411. MacNealy, M. S. (1998). Strategies for Empirical Research in Writing. London: Longman. Marshall, R. (2000). Emerging Urbanity: Global Urban Projects in the Asia Pacific Rim. London: Spon Press. Martin, J. (2013). The Bilbao Effect: If You Build It, Will They ComeThe Economist [online]. Available at: http://www.economist.com/node/21591708/comments [Accessed on: 18 Oct. 2014]. Reutskaja, E. and Nueno, J. L. (2009). ‘Starchitects, Emblematic Buildings and Their Effects on Urban Economics’. IESE Business School, University of Navarra, pp. 1-20. Romaniuk, O. (2010). Failure of Iconic Architecture. Living Space [online]. Available at: http://www.livingspace360.com/index.php/failure-of-iconic-architecture-12484/ [Accessed on: 18 Oct. 2014]. Rybczynski, W. (2008). When Buildings Try Too Hard. The Wall Street Journal [online]. Available at: http://online.wsj.com/articles/SB122731149503149341 [Accessed on: 18 Oct. 2014]. Specht, J. (2014). Architectural Tourism: Building for Urban Travel Destinations. Wiesbaden: Gabler. Sudjic, D. (2005). Can We Still Believe in Iconic BuildingsProspect Magazine [online]. Available at: http://www.prospectmagazine.co.uk/ [Accessed on: 18 Oct. 2014]. Yanow, D. and Schwartz-Shea, P., eds. (2006). Interpretation and Method: Empirical Research Methods and the Interpretive Turn. New York: M. E. Sharpe. How to cite HR Dissertation – Iconicity and hubris, Essays

Strategic Management Concepts and Cases

Question: Discuss about the Strategic Management for Concepts and Cases. Answer: Introduction According to Jurevicius, (2013), the term strategic management can be defined as a continuous process which involves analysis, planning, implementation and monitoring which an organization uses to achieve its objectives and goals to compete in the market. An organization has various management strategies to mobilize its resources for better performance in the market. Due to the changing nature of the economy and market trends, strategic management of an organization need not be static. This suggests that the organization has to keep on revising its management strategies from time to time so as to adapt to changes. Strategic management practices of an organization determine its success. By having strong strategic management plans, an organization gains a competitive advantage over its competitors in the same market. The study will identify three strategic management theoretical practices which will be discussed in detail. It will also focus on strategic management practices of the National Australian Bank (NAB) and the theoretical concepts of strategic management and their managerial influence on NAB. The strategic management practices in NAB will be reflected, and recommendations on how they can improve their strategic management practices will be given. Strategic management theoretical concepts According to Newton (2017), theoretical concepts of strategic management are essential in every organization as they determine the organization's culture. The management should come up with valid concepts, and they pass them over to all employees. This creates an organized working environment which is good for the performance of the organization. The theoretical concept in an organization guide the decision-making process of an organization, the behavior of the workers as well as the coordination of activities in the organization. Transaction cost economics theory argues on whether an organization should internally make or externally buy some of it inputs or services. This theory is applicable in different business levels including industries, the organization most importantly on matters related to financing such as the suitability of internal or external source of financing sources. It is also applicable in deciding market entry strategies that an organization and in employee management and compensation issues facing an organization (Leonard, 2014). The gaps in the assumption of the early economic thinking fueled the proposing of the transaction economic theory. The classical economists in the late 1930s and the early 1940s held on three assumptions; The assumed that the markets were efficient. The organization should focus on minimizing costs while maximizing profits. Perfect knowledge of the market influenced decision making in an organization. According to Leonard (2014), Ronald Coase an economist from Britain did not agree with the assumption that markets were efficient since, if they were efficient, firms would be nonexistent. According to Coase (1937) as cited by Leonard (2014) in his essay, The Nature of the Firm. he had discovered that transaction cost was high compared to the prices of goods or services. He observed that during transactions between trading partners, bargaining and while gathering information, costs were created. He argued that internal production of goods and services would be cheaper since excess transaction costs would be avoided. Coase introduced the concepts of inefficient market and transaction cost though he did not elaborate on what were the transaction costs. (Martins et al., 2010) Herbert Simon made a change in the economic theory. As a behavioral scientist, he argued that a rational man did not exist as decisions were made with the aim of satisfying the need. Later on while in Carnegie school, Simon together with Richard Cyert and James March influenced the economics department and led to the establishment of what was called the freshwater economics; a new approach that stressed on changing economic and quantitative aspects of economic decision making in an organization (Leonard, 2014). National Australia Bank established an international expansion strategy which for thirty years became a failure. The Bank had to come up with new strategies to end its woes. According to McConnel (2016), the establishment of this strategy came to haunt the success of the bank in Australia and also internationally. In February 2016, the National Australia Bank announced that it had successfully separated with Clydesdale/ Yorkshire Bank (CYBG) though the separation would result in an estimated loss of $ 4.2 billion dollars. This marked the end of an international expansion strategy of NAB. The strategy had yielded little success in business growth since expanding the organization internationally had prevented the organization from focusing on its corporate strategy. NAB had started its international strategy in 1987 when it purchased Clydesdale Bank in the Republic of North Ireland which under Midland Bank of UK. In the following years, Nab continued buying out other Banks in foreign countries. In 1990 they Purchased Yorkshire Bank in England whose headquarters were in Leeds, in 1992 it acquired the Bank of New Zealand (BNZ) and then US based Michigan National Corporation (MNC) in 1995. In 1997 during its annual report, NAB outlined its success, and a vision of becoming a leading financial service company in the world was unleashed. Following this success, the bank built its headquarter in Melbourne where other branches in Europe were served. As a leading financial services company, NAB revealed its plans to develop online banking services in Australia and New Zealand and offer telephone banking services in the UK and USA. NAB continued implementing its international expansion strategy, and in 1998, they acquired HomeSide Inc, which by then was among the largest mortgage service companies in the US. By purchasing the MNC Life Limited in 2000, they awakened the large banks in Australia who started acquiring the local insurance and investment companies to offer universal services to their customers. In the early 2000s, crisis challenges started to appear in what NAB had thought would be a good expansion strategy. The complexity of the US mortgage market forced NAB to sell HomesSide operation in 2002 making a loss of over US$ 2billion. NAB had only acquired banks that were operating in the peripheral in North Ireland, Scotland and Michigan. The problem in managing the other branches from Melbourne continued, and in 2004, NAB had to exit the Irish banking operations by selling the Northern Bank and National Irish Bank. By 2009, a new CEO called Cameron Clyne announced a change in strategy that would see NAB focus more on the Australian market. The acquisition of Banks in other countries by NAB was opportunistic rather than strategic since they contributed little to the success of NAB in the Australian businesses. From this failure of strategy by NAB, we see the need for applying transaction cost economic theory. This would have helped NAB to identify a better strategy based on strategy and not opportunity. By acquiring peripheral banks rather than a major financial corporation, contributed greatly to the failure of its international expansion strategy. Resource based view According to Jurevicius (2013), the proponents of this view argued that an organization should internally find sources of competitive advantage rather than seek a competitive environment for it. Resource based view urges the organizations to innovate new ways of using resources that they have in exploiting external opportunities. This model of strategic management is important in helping companies experience better performance through effective utilization of resources. An organizations resources can be in two forms; tangible and intangible. According to Jurevicius (2013), tangible resources refers to physical assets such as vehicles, machinery, land among others. These type of resources can be purchased from the market and therefore accessible to every organization. By Acquiring them, the organization offers a little advantage over its competitors for a short period since they can also purchase them. Intangible resources refer to non-physical assets that an organization can own. They include trademarks, intellectual property, patent right among others. Intangible assets cannot be bought from the market like tangible assets, so they cannot be accessed by the competitor organization. Therefore, intangible assets determine the competitive advantage of an organization that can be sustained for a long time. Assumptions of Resource based view According to Rothaermel (2012,) resource-based view has two major assumptions that resources must be heterogeneous and immobile. Rothaermel argues that the resources of an organization must be heterogeneous, that is, the resources that an organization owns must be different from those of another company. By having similar resources in the organizations, competitive advantage would not exist simply because, when one company implements a change in its operation, other companies would do the same. Resource based view assumes that the utilization of different resources by organization creates competition. Resource based view assumes that the resources of an organization should be immobile, this means that resources should not move from one organization to another. Immobility of an organizations resources prevents other organizations from copying its resources and implement their strategy. Intangible resources of an organization are usually immobile. Since intangible resources give the organization competitive advantage over its rivals by being immobile, this helps the organization in sustaining its competitive advantage for a long time. By understanding the resource based view, we can now analyze how this concept influenced managerial practices of NAB. NAB focused on the competitive environment in its quest to utilize the financial service opportunities at the international markets. They did not strategize to utilize their internal resources, but they opted to use external resources to seize the opportunities available. They did so by acquiring banks from their target niches, a strategy that failed to work. Had they tried out to market their services in those countries , they could have gained a better position in the market. Purchasing an existing business organization may have adverse effects because if they have a negative reputation from the consumers, it would be difficult to amend it. Knowledge-based view (KBV) Robert Grant (1996) Robert Grant is the proponent of knowledge-based view. KBV focuses on the importance of knowledge as a resource. KBV asserts that, individuals and not the organization hold and maintains knowledge. He categorized knowledge into two forms; tacit and explicit knowledge. Tacit knowledge refers to knowledge that individual gain through experience or action. Tacit knowledge is implicit and therefore functions at a subconscious level. The implicit nature of tacit knowledge makes it difficult to articulate and share it within the organization. Explicit knowledge refers to information that can be articulated, documented and can be shared within the organization. KBV recognizes tacit knowledge as the source of organizational knowledge. Since it is highly immobile and cannot be imitated, it is therefore considered to be the most important strategic resource of any organization (Leonard, 2014) Organizations can retain their knowledge for a long time, and hence they can use it as a competitive advantage. An organization can best utilize their knowledge resources by ensuring that specialized knowledge possessed by their employees is well coordinated through rules, directives, ensuring everyone participates in solving problems in the organization and also by involving the employees in decision making. The knowledge sharing in an organization should be formalized by ensuring expert knowledge and procedures are kept in written form where every member of the organization can access. Developing a good system of communication is vital in ensuring effective sharing of knowledge among the members of the organization. KBV recommends that an organization should have a common base of knowledge. This makes it easy to share knowledge in an organization. This also creates coordination and individuals with specialized knowledge can disseminate it to others since knowledge within an organization should be mobile. To enhance information sharing, NAB signed contracts with leading financial institutions, Israels Bank Leumi and Canadian Imperial Bank of Commerce (CIBC) where they formed and international banking innovation alliance. According to NAB Executive General Manager Jonathan Davey, the alliance would allow NAB to access vital international innovations and in sights that would help their partners to develop products and services together to improve their service delivery to customers (National Australia Bank, 2016) According to Davey, joining hand with like-minded international organizations would help NAB gain world-class insights that would help them satisfy their customers even better. NAB has already partnered with CIBC in using the Ripples blockchain technology which they use to complete international payments transfers between the two organizations and also between their branches. NAB is now forming collaborations with leading financial institutions this will encourage innovation in the bank which will help them reach their visions. This will increase their competitive advantage and therefore help them regain their status. Recommendations NAB should apply business continuity management plan. According to Andrew (2010), business continuity management plan is formulated in advance in preparation of a future occurrence. This is an important approach to managing risks like the ones that faced NAB in its International Expansion strategy which failed. A business continuity management plan is important for all organization across all sectors regardless of their size. This is because it would help the organization thrive even after unexpected occurrences that dent their vision takes place. Elliot et al. (2010), suggests that a business continuity plan in any organizations requires two elements; The organization must create conditions that make it easy to implement business continuity plan. For example efficient communication system, reward systems, and skill enhancement programs for the staff and good leadership systems (Andrew, 2010). The organization must also have a defined organizational structure. This will make it easy for the organization to implement the business continuity plan after the occurrence of unexpected drawback (Elliot et al.(2010). Before embarking on the international expansion strategy, NAB should do a thorough research on the markets that it wants to venture. This will prevent future disappointments and losses like the one experienced after selling HomeSide Mortgage Company in the US. Before acquiring another institution is good to research on it performance and reputation NAB ended up losing all its branches that they had acquired in Europe because they were not competitive enough in their local markets which resulted in their failure. A common headquarter is important for any organizations, but on international levels, the organization should try as much as possible to develop strategies based on the location of it branches this is because the different business environment will require different approaches. A single strategy cannot be implemented universally and get similar results. This is because markets are different and each market has its competitors, therefore, the need for a unique strategy of operation and marketing of the organization in different countries. Conclusion The concept of strategic management is important in every organization. For an organization to have a competitive advantage in the market, it must observe and apply the theoretical concepts of strategic management. An organization potential to grow and develop mainly relies on its strategic plans. Before venturing into a project, an organization should have a well-documented management strategy which can be used for a successful implementation of the project. References Andrew, C., (2010). Revising Basel 2: The Impact of the Financial Crisis and Implications for the Developing Countries. New York and Geneva: United Nations (G-24 Discussion Paper series June 2010 UNCTAD). Elliott, D., Swartz, E. Herbane,(2010). Business Continuity Management: A crisis Management approach. 2nd ed, New York: Routledge. Jurevicius, O., (2013). Resource Based Review. Strategic Management Articles. Available at: https://www.strategicmanagementinsight.com/topics/strategic-management-planning.html Jurevicius, O., (2013). Strategic management and strategic planning. Strategic Management Articles. Available from: https://www.strategicmanagementinsight.com/topics/strategic-management-planning.html Leonard, J., (2014). Strategy theories: Transaction cost economics. Available at: https://academlib.com/3812/management/strategy_theoriesss Martins, R.., Fernado, R.,. Andre, S., Manuel, P. Dan., L, (2010). Transaction cost theory influence in strategy research: A review through a bibliometric study in leading journals. Globadvantage Center of Research In International Business and Strategy. McConnel, (2016). National Australia Bank 30 years of strategyfailure. Available from: https://theconversation.com/columns/pat-mcconnell-13137 NAB, (2016). NAB forms International Bank Innovation Network. NAB Articles Nemati, R., (2010). Impact of Resource-Based View and Resource Dependence Theory on Strategic Decision Making. Research Gate Articles. Available from: https://www.researchgate.net/publication/49586561_Impact_of_Resource_Based_View_and_Resource_Dependence_Theory_on_Strategic_Decision_Making Newton, C., (2017), What are five theoretical concepts in the workplace. Available at: https://smallbusiness.chron.com/five-theoretical-concepts-workplace-14115.html Rothaermel, F., (2012). Strategic Management: Concepts and cases. McGraw-Hill/Irwin. P.5

The Enhanced Green House Effect Essay Example For Students

The Enhanced Green House Effect Essay The Enhanced Greenhouse EffectFor the past ten thousand years the earths climate has been extremely good and beneficial to mankind. Today however , major changes are taking place. Humans beings are changing the face of the entire planet by destroying the rain forests and pumping our pollutants into the air and water. Some of these gases are very toxic and they are destroying our ozone layers which allows life to exist on earth These things are changing the make-up of the earths biosphere and its heat balance in a very negative way. Global Warming is an increase in the earths temperature due to the use of fossil fuels and other industrial processes, leading to a buildup of green house gasses. It has been known that using these gasses stops the suns heat rays from getting into space. We will write a custom essay on The Enhanced Green House Effect specifically for you for only $16.38 $13.9/page Order now This is called the green house effect. There is a question weather this adds to Co2 levels in the atmosphere. A rise in temperature could cause coastal folding and major climatic changes. This could have serious effects on agricultural productivity. Since 1850 there has been an average rise of 1 degree calculus (1.8 Fahrenheit). But this rise could be just a natural fluctuation or it could be from humans pumping fossil fuels into the atmosphere. It can be hard to tell if it is natural or man made, but either way, in 1995 it was the hottest year on record, research shows from the British Meteorological office. Some scientists predict that if green house gasses are not reduced quickly, temperatures could raise the average temperature 1.8 to 6.3 degree Farenheit by 2100. The average temperature rose 1.8-degree Fahrenheit from 1850 to about 1998. This says the temperature is rising faster because of more fossil fuels and Co2 being pumped into the atmosphere. These increases of temperatur e, scientists predict, could cause sea levels to rise 20 inches and more. Many of the worlds greatest scientists say the potential consequences are so great that many are urging immediate action, and are asking for international cooperation. Climate Change has caused some extreme and weather breaking events in recent years. There have been heat waves in European and North America, floods in Africa after nearly 2 decades of drought, and nearly continuous rain and cold in the middle of summer at other places. In the 80s six of the hottest years of the century were recorded. This could be a result of a global climate change caused by the chemical pollution of the atmosphere. As of yet, no sign of climate change has happened yet that can be blamed on the green house effect. The Greenhouse Effect is the roll that the atmosphere plays in insulating and warming the earths surface. The atmosphere is the part of the earth that is covered by a thin blanket of gasses. Nitrogen and oxygen are t he main gasses in our atmosphere. We would not be able to survive without oxygen. When the sunlight hits the earth it turns to heat or infrared energy. Some of this heat energy is absorbed by soils, plants, and water on the earths surfaced. A lot of this is reflected back toward space, but not all.Carbon dioxide and other similar gasses absorb this heat, and prevent it from going back to space. Carbon dioxide absorbs this heat and warms the atmosphere. It is like a window in a car on a summer day. The glass lets in sunlight but keeps the heat from escaping, like a glass or plastic window in a greenhouse traps heat and protects plants from the cold. This is the greenhouse effect. .uac3b48313e28dd2aa7b4140fef2a5ac8 , .uac3b48313e28dd2aa7b4140fef2a5ac8 .postImageUrl , .uac3b48313e28dd2aa7b4140fef2a5ac8 .centered-text-area { min-height: 80px; position: relative; } .uac3b48313e28dd2aa7b4140fef2a5ac8 , .uac3b48313e28dd2aa7b4140fef2a5ac8:hover , .uac3b48313e28dd2aa7b4140fef2a5ac8:visited , .uac3b48313e28dd2aa7b4140fef2a5ac8:active { border:0!important; } .uac3b48313e28dd2aa7b4140fef2a5ac8 .clearfix:after { content: ""; display: table; clear: both; } .uac3b48313e28dd2aa7b4140fef2a5ac8 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uac3b48313e28dd2aa7b4140fef2a5ac8:active , .uac3b48313e28dd2aa7b4140fef2a5ac8:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uac3b48313e28dd2aa7b4140fef2a5ac8 .centered-text-area { width: 100%; position: relative ; } .uac3b48313e28dd2aa7b4140fef2a5ac8 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uac3b48313e28dd2aa7b4140fef2a5ac8 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uac3b48313e28dd2aa7b4140fef2a5ac8 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uac3b48313e28dd2aa7b4140fef2a5ac8:hover .ctaButton { background-color: #34495E!important; } .uac3b48313e28dd2aa7b4140fef2a5ac8 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uac3b48313e28dd2aa7b4140fef2a5ac8 .uac3b48313e28dd2aa7b4140fef2a5ac8-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uac3b48313e28dd2aa7b4140fef2a5ac8:after { content: ""; display: block; clear: both; } READ: Wounded EssayThe Carbon Cycle is a natural process of carbon dioxide entering the air. It is present in some kinds of rocks and in coral reefs. Large amounts are also stored for a time in soils, in ocean waters, and in sediments at the bottom of the oceans. It is released by erosion, plants and from decaying things. The scientists learn about the earths atmosphere and past by studying glaciers. By drilling more than a mile deep in Greenland glaciers, scientists have collected cores of ice formed a hundred thousand years ago. Their studies show gas bubbles in the ice reveal changes in the earths atmosphere. The scientists have learned that the amount of carbon dioxide in th e earths atmosphere has changed as temperatures and other conditions have changed over thousands of years. Greenhouse Gasses in the atmosphere really began to increase in the early nineteenth century with the beginning of the Industrial Revolution. When fossil fuels such as coal, oil, and natural gas are burned, carbon combines with oxygen to form carbon dioxide. Human use of fossil fuels has quickly added large amounts of this gas to the atmosphere. Cutting down forests also adds carbon dioxide, because when wood decays it releases its carbon slowly, also when it is burned. Each year many square miles of forests are burned to clear land for farming especially in the tropics. This cutting down of the forests has released at least a billion tons of carbon dioxide into the atmosphere each year. Methane gas is another gas released during coal mining and the production of petroleum products. Natural gas is also methane and so any leaks during the production or distribution, or in the use of natural gases also ad methane to the atmosphere. It is produced when forests or grass lands burn, but m ainly when dead things decay. It a raises where ever decay occurs and there is little oxygen present, like from swamps and rice paddies, from garbage buried in land fills and even from the guts of cows and termites. Cattle are one of the greatest sources of methane because their numbers have more than doubled the number of people. Methane is chemically twenty times more effective than carbon dioxide as a heat trapping gas. Gases called chlorofluorocsrbons (CFCs) also are dangers because they are used as coolant gasses in refrigerators and air conditioners, as insulation and as propellant gasses in spray cans, also in things like the foam in car seats. When we want a quick and go to a McDonalds or any fast food place, all the plastic containers the food is served in is usually made with CFC gasses. High in the atmosphere the long-lasting CFCs destroy the atmosphere which protects the earth from the suns rays. A CFC molecule absorbs heat ten thousand times more then co2. Evidence show s that they are adding to the green house effect in the earths atmosphere and are contributing to the warming of the earth. Results of Global Warming have been debated heavily among scientists. Some have wondered if the rise in temperature might simply be a result of the growth of cities near weather stations. Urban areas are heat islands because of all there pavement and rooftops that absorb more heat then soils. Research shows that cities have warmer climate than rural areas. But other research shows that todays most sophisticated climatic models estimate that global temperatures will rise between 3 and 9 degrees by the year 2030. Some of the results from this could be in the warming of oceans and rising seas. Glaciers melting due to the warmer seas will cause them to rise. Some predict a rise of 20 inches to 5 feet in the next 50 years. Just a one-foot rise in the sea level can cause shorelines to recede a 100 ft, and in flat terrain 1000-ft. Salt water would pollute freshwater wells that we use for drinking water. Coastal marshes that are vital for fish and other ocean life could also be endangered. L ow lands, islands and cities in these areas, like the Caribbean Islands, or the Florida Keys, could actually disappear. Another major factor could be changing weather patterns. Scientists predict that winter temperatures will rise causing less snow, which could mean dryer soils, rivers and lakes. The oceanic currents that are generated by the contrasts in the temperature between masses of water could shift direction or slow down as well and cause some extreme climate changes. On land, rainfall patterns are likely to change in very unpredictable ways. There will be droughts in some areas that can ruin food production that would effect the entire world. Flooding would be a problem, as would more forest fires that would have a devastating effect also. As the ocean temperatures rise hurricanes will become stronger and more frequent with devastation as well. .u92a0b7c45ff05c1218ee4a39fa52712c , .u92a0b7c45ff05c1218ee4a39fa52712c .postImageUrl , .u92a0b7c45ff05c1218ee4a39fa52712c .centered-text-area { min-height: 80px; position: relative; } .u92a0b7c45ff05c1218ee4a39fa52712c , .u92a0b7c45ff05c1218ee4a39fa52712c:hover , .u92a0b7c45ff05c1218ee4a39fa52712c:visited , .u92a0b7c45ff05c1218ee4a39fa52712c:active { border:0!important; } .u92a0b7c45ff05c1218ee4a39fa52712c .clearfix:after { content: ""; display: table; clear: both; } .u92a0b7c45ff05c1218ee4a39fa52712c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u92a0b7c45ff05c1218ee4a39fa52712c:active , .u92a0b7c45ff05c1218ee4a39fa52712c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u92a0b7c45ff05c1218ee4a39fa52712c .centered-text-area { width: 100%; position: relative ; } .u92a0b7c45ff05c1218ee4a39fa52712c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u92a0b7c45ff05c1218ee4a39fa52712c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u92a0b7c45ff05c1218ee4a39fa52712c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u92a0b7c45ff05c1218ee4a39fa52712c:hover .ctaButton { background-color: #34495E!important; } .u92a0b7c45ff05c1218ee4a39fa52712c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u92a0b7c45ff05c1218ee4a39fa52712c .u92a0b7c45ff05c1218ee4a39fa52712c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u92a0b7c45ff05c1218ee4a39fa52712c:after { content: ""; display: block; clear: both; } READ: Importance Of Friendship EssayReducing Green House Gasses is a must and people must act soon. One of the easiest steps would be to stop the use of CFC gases. They are harmful and trapping heat in the atmosphere and destroying the ozone layer. This allows more cancer causing ultraviolet light to reach the earth. This is a big challenge because we depend so much on coal and oils and the other by-products made from these. Natural gas would be better than burning coal because it emits half the co2 that coal does. A clean and safe source for electricity would be wind, water, and solar power. There are several small solar energy plants already making electricity in California, a nd the cost of making it is dropping. Another solution for using less fuel would be to change to electric cars that dont put out any co2 emissions. We would need to research battery powered or solar power cars. Fuels used to heat buildings could be cut back greatly by doing things like adding insulation and replace windows that easily lose heat. Science believe there needs to be a 50% decrease in Co2 to slow down its increase in the atmosphereI think a good idea to have a carbon tax on manufacture utilities to make them consider switching to natural gases. They have to pay a fee for using to the gasses. Coal would be tax the most because its has the most carbon. The tropic countries should have to go more towards solar power because they have the most light. The United States should help the third world countries develop in ways that dont hurt the atmosphere. I think there should be a universal law that would protect the atmosphere. But the question is can we all corporate and work together.Science

Microsot Word 2000 essays

Microsot Word 2000 essays -The creator of the popular Windows operating system founded by Bill Gates. (microsoft.com/office/order/pricing.htm, 2000) Microsoft Word 2000 is generally purchased as a part of the Office 2000 package. The New User/Retail Upgrade Price when purchased with the: -Premium Package (including: Word, Excel, Outlook, - -Publisher, Small Business Tools, Access, PowerPoint, FrontPage and PhotoDraw) - $1,299/$699 CAN -Professional Package (including: Word, Excel, Outlook, Publisher, Small Business Tools, Access and PowerPoint) - $929/$539 CAN -Small Business Package (including: Word, Excel, Outlook, Publisher and Small Business Tools) - $769/$389 CAN -Standard Package (including: Word, Excel, Outlook and PowerPoint) - $769/$389 CAN -The New User/Retail Upgrade Price when purchased alone: (microsoft.com/office/word/Introduction.htm, microsoft.com/office/word/Streamline.htm, 2000) -Combines word processing with the Web (eg. documents can be sent by e-mail with the click of an icon or make it a Web page with a click of the mouse). -Integrated with all Office 2000 programs allowing for top-quality documents, presentations, Web pages, etc. -Proofing tools (AutoCorrect, Spelling and Grammar) available in English, French and Spanish. -Documents can be created and edited in just about any language as long as you have the font installed on your computer. (microsoft.com/office/word/Streamline.htm, 2000) -WYSIWYG(What You See Is What You Get) Font Menu: Gives you a preview of font styles before they are chosen. -You no longer have to press TAB or ENTER to get where you want to start with the new "Click and Type" feature. -"Collect and Paste": Allows you to store up to 12 cut or copied items and insert them all at o ...

Devil's Knot by Mara Leveritt Essay Example | Topics and Well Written Essays - 1250 words

Devil's Knot by Mara Leveritt - Essay Example hin the book entitled â€Å"Devil Knot: The True Story of the West Memphis Three.† In the first half of the book, readers are given an in depth look at Jesse Miskelley’s trial specifically, and from the evidence provided, the verdict returned by the jury does not appear to be correct. Although some elements of the crime remain shrouded in mystery, there are certain aspects that all parties regard as factual. The murders of three eight year old boys—Christopher Byers, Michael Moore, and Stevie Branch—occurred on May 5, 1993(Leveritt, 6). The details of the crime were particularly gruesome as the boys were found naked, beaten, hogtied with shoelaces, and floating in a bank within the Robin Hood Hills(Leveritt, 11-12). One of the boys was missing parts of their genitals, and it appeared that the primary cause of death was drowning. The murder shocked the close-knit, largely religious community, and there was a lot of pressure on the local police to find the murderers as quickly as possible. After a few leads that did not go very far, the police began to focus on the idea of a gang or cult perhaps having committed or been involved with the murder. This idea quickly took shape due to the disturbing nature of the crime. Additionally, in 1993, there was a certain kind of satanic panic spreading across the United States. Leveritt states, â€Å"By the late 1980s, interest in the suspected prevalence of satanic ritual abuse, or SRA, as it became known, had grown so intense in the United States†(Leveritt, 44). Basically, anyone who dressed in black, listened to heavy metal music, or was in any other way an outsider, was seen as someone who could potentially be involved with satanism. Ultimately, it was a combination of the crime and the satanic panic that pointed the police in the direction of three teenagers: Damien Echols, Jason Baldwin, and Jesse Miskelley. Although these boys were initially suspected due to their odd behavior and dress, there was not really

Ryanair Essay Example | Topics and Well Written Essays - 2500 words

Ryanair - Essay Example Porter suggests that a firm should follow either differentiation strategy or cost-leadership. They do not submit a mission or vision but they continue to be the largest low-cost leader in the European air industry (Box and Byus 2007). This requires an absolute dedication to low-cost performance in every element of the value chain. Thus, they have quick gate turnarounds, non-union operations, their compensation plans are in the form of performance-based incentives, and they fly to secondary airports which too results in cost savings. They have been successful so far because they could compete against the tradition carriers as consumers have become price-conscious. They are able to maintain price advantage and they get most of their bookings online. They replicated the South West Airline model of offering â€Å"no frills† services and focused on the most price-sensitive segment (Leavy 2003). Is Ryanair’s strategy sustainable? Ryanair’s strategy has become questiona ble due to the impact of cost savings in every function. This can be better understood through environmental analysis. Michael Porter has developed a set of tools and framework for environmental analysis. ... Economical The economy of Europe as a whole is stable and the domination of Euro as the common currency adds to stability. The consumers in Europe too are stable so overall the economical factor has low impact on the industry. However, outside Europe the market is undeveloped and these economies are unstable. Moreover, the economic crisis has impacted all low-cost carriers since 2008 which ash prompted stringent actions from the low-cost carriers (Dunn 2009). Social The airline industry depends on the changing consumer demand. Ryanair could succeed so far because of the price-consciousness of the consumers. However, consumer demographics keep changing and the airline has to be cognizant of the changing consumer preference. Even a small price difference can change the mindset of the most loyal consumer. Thus the social factor has a high impact. Technological The technological factor has a low impact because Ryanair has invested in standardized but latest aircrafts. However, they do no t use technology in employee relations or in customer relationship management. Legal This has a high impact as they have been charged by the EU for receiving illegal subsidies for its base airport (O’Higgins 2005). Its website also had several consumer complaints which prompted the airline to shut down the website (O’Higgins 2005). The airline was also in a dispute against the British Airports Authority (BAA) for alleged monopoly abuse over fuel levies. Environmental This has a high impact because ‘climate protection charge’ has been levied against the airline. Frequent landings and take-off on short-haul flights have high impact on the environment (O’Leary 2007). PESTLE Evaluation The external environmental analysis suggests low impact

Ethical Treatment of Prisoners Research Paper Example | Topics and Well Written Essays - 1500 words

Ethical Treatment of Prisoners - Research Paper Example Correctional officers have no powers related to enforcement of law but they are law representatives inside the prison facility. Smith states, â€Å"In the prison, correctional officers monitor prisoner behavior, maintain order, delegate jobs or responsibilities for prisoners, and supervise transportation for prisoners who are moved to other locations†. They not only take care of the individual who have been sent to the jails by the courts but also they look after those individuals who have been waiting for the trials in the prisons. Therefore, we can say that the role of correctional officers inside the prison facility is of critical importance. Along with the importance of correctional officers in prisons and jails, there also exists a negative viewpoint regarding the treatment provided by the correctional officers to the inmates. The benefits that the inmates receive from the state such as health care, prenatal care, mental health care, free housing, free food, and free educ ation are viewed somewhat unethical in the today’s world. Some of these benefits even do not apply to the people living in the non-correctional settings. There are some reasons why these benefits are considered unethical or unjustified. Let us first discuss how inmates have been lead to suicide or more crime because of the treatment that they receive from the correctional officers and then we will discuss some of those reasons, which make the state benefits provided to the inmates unethical and unjustified. Reasons for Increased Suicides and Crimes among Inmates There are many reasons, which act as the root cause for the increased level of suicides and crimes among the criminals. Let us discuss some of those reasons in some detail: Behavior of Correctional Officers One of the major reasons behind increased rate of crimes and suicides among the inmates has been the behavior of some of the correctional officers. Some officers do not treat the prisoners politely, which injects t he sense of revenge in the minds of the criminals. Inmates expect good behavior from the correctional officers but when they do not get what they expect from the officers, they become more aggressive and violent. The harsh and unkind treatment of some of the correctional officers also plays an important role in creating negative feelings in the minds of the inmates. It is the nature of any criminal to show the feelings of aggression if he or she is mistreated either by other prisoners or by correctional officers. Therefore, it is very important for the correctional officers to control the behaviors and actions of the criminals in an appropriate way in order to control crime rate in the country. Role of State Benefits in Increased Crimes The benefits, which are provided by the state to the inmates, also play a considerable role in increasing the number of crimes and suicides among the inmates. Those benefits are provided to the inmates only in the correctional settings. The benefits such as free housing and free education are not provided to the criminals in the non-correctional facilities, so when the inmates come out of the prisons, their free education facility ends up which creates frustration among the inmates. Some of the inmates want to continue with the free education and free housing facilities even after the punishments ends and when they do not find a proper opportunity to get those benefits in the non-corre

Black Comedy And William Faulkner English Literature Essay

Black Comedy And William Faulkner English Literature Essay In the literary work As I Lay Dying, the author William Faulkner portrays his use of black comedy in the novel. Black comedy is defined as the morbid, gloomy, grotesque, or calamitous situations in its plots (Dictionary.com). Faulkner demonstrates his writing techniques of black comedy through the characters actions. As I Lay Dying is criticized as a black comedy because of the portrayed tragic irony of incoherence, insanity, and the submission to abuse in the novel. As I Lay Dying have several examples where The Bundrens demonstrated incompetent behavior throughout the novel, which was grotesque behavior that is found to be humorous among readers and critics. An example is Cash building his mothers coffin outside her window. From Jewels perspective Its because he stays out there, right under the window, hammering and sawing on that goddamn box. Where shes got to see him (Faulkner 1864). That is unfortunate that Addie must witness her son take pride in building her coffin outside her window. Another example is Anse Bundren, the husband who is not self sufficient for himself or articulate the meaning of work. Darl states I have never seen a sweat stain on his shirt. He was sick once from working in the sun when he was twenty-two years old, and he tells people that if he ever sweats, he will die (Faulkner 1864). Addie Bundren has always prepared his meals, watched the children, clean, and wash laundry. Faulkner shows irony of how Anse marries a woman after knowing her for a couple of days after Addie has been buried. Vardamen who is the youngest son in the family has taken upon himself to believe his mother could not breathe in her coffin. Vardamen caught a fish from a nearby creek and gave it to Dewey Dell to prepare for dinner. After Addies death, Vardamen compared his mother to the fish that was lying the pan bleeding. He figured if the fish died because it could not breathe, he should drill holes into Addies coffin so she can breathe. The tragic incoherent behavior was demonstrated when the lid of the coffin was removed and discovered there are two holes drilled into Addies face. The eldest child in the family named Darl was considered insane at the end of the novel. In the beginning of the novel, Darl narrates Jewel and I come up from the field fifteen feet ahead of him, anyone watching us from the cottonhouse can see Jewels frayed and broken straw hat full head above my own (Faulkner 1860). This suggests the possibility the beginning of his insanity not being surfaced. The black comedy was suggested when Darl decides to set the barn on fire as a method of saving his mother only to put other members of his family at risk. When the family arrived in Jefferson, Mississippi, Addie was then finally buried. Ironically, Darl was taken in by two officials has taken Darl into custody and placed him in a mental intuition in Jackson, Mississippi. In the novel, Cash thoughts stated I be durn if I could see anything to laugh at (Faulkner 1947). The primary shock in Darls final short monologue is his transfer of himself to the third person (Simon 104). Addie Bundren had a small excerpt in the middle of the novel about her thoughts and feelings. She began to display submissive behavior to abuse stated When the switch fell I could feel it upon my flesh: when it welted and ridged it was my blood that ran, and I would think with each blow of the switch: Now you are away of me! (Faulkner 1920). Throughout Addies life her father influenced Addie the meaning of life is the preparation of staying dead for a long period of time. She then finds herself marrying Anse and come to the realization there is no point in living after baring her second child, Cash. It is humorous to find that she spent her whole life mentally and physically abusing herself through her relationship with Anse and until death. It is a travesty how she spend her life through abuse but ironically Jewel decides to resent her until death and after death. As I Lay Dying is humors because of the characters display of grotesque behavior. Faulkners characteristic style as well as the variations in style that create differences in tone, ranging from comedy to thoughtful contemplation (Bunselmeyer 424). The tragic and exaggerated events that happened throughout the novel gives critics something to laugh about because of irony of incoherence, insanity, and the submission to abuse in the novel that hopefully will not happen in reality.

Essay --

INCREASED FLEXIBILITY According to Forbes (2013) ’home-based work accounts for savings of more than $10,000 per employee per year... With the introduction of new technology (ICT), Tesco's office staff can now work from home, and communicate using laptops, tablets and smartphones. This is a benefit for Tesco because they will save money on reducing the number of office facilities - less office area is needed as people are working from home. In addition, another benefit is that the homeworkers and people who are working in the office can use the same software to carry out their tasks, and save them on the Cloud storage. This reduces the need for buying expensive hard drives and memory sticks. Also, flexible working practices (homeworking) can increase employee's motivation because they feel valued. Therefore, the work will be of higher quality (more professional) and higher quantity (more tasks completed). Improved communication and communication cost reduction ICT allowed Tesco to use e-mails and video-conferencing to improve the communication systems. E-mail is a very good way of communicating (especially when people are working from home), and it enables Tesco staff to: experience fast and instant communication with other Tesco staff in the world, save money on sending mails (paper, envelopes and stamps are not needed), sent e-mails to many people at one time, and send documents as attachments (meeting documents, decisions, budgets). Video-conferencing is providing Tesco with the opportunity to hold international meetings without the need to travel (less working time is lost, and money is saved on transport and accommodation). Access to the vast amount of data By using ICT, Tesco can access the internet to find ... ...ted because the cheap products (Tesco own brand products) are not on sale. Therefore, some profits will be lost as less products are sold and brand image will be damaged as the customers are dissatisfied. Conclusion As the presentation outlined, there are 5 significant advantages and 5 significant disadvantages for Tesco of using ICT. All of them are very important for Tesco to consider, because they can make the difference in terms of efficiency, flexibility, profitability and productivity. The advantages of ICT can be described as great sources of success, whereas the disadvantages can be explained as the factors that stops and slows Tesco from achieving the success. Therefore, it is very important for Tesco to monitor the progress met towards finding the best way of overcoming the disadvantages, and become more competitive and more successful in the market.

Polyester Manufacturing

Polyester fibers, the synthetic fibers, are long chain polymers derived from coal, air, water, and petroleum. They are formed through chemical reaction between an acid and alcohol. In this reaction, two or more molecules combine to make a large molecule whose structure repeats throughout its length. These molecules are very stable and strong. There are variations in the compositions and therefore in the properties of polyester fibers. Types of Polyester The polyester fibers are generally available in two varieties- PET (polyethylene terephthalate) and PCDT (poly-1, 4-cyclohexylene-dimethylene terephthalate). PET is the most common production. It is stronger than PCDT, while PCDT has more elasticity and resilience. PET can be used alone or blended with other fabrics for making wrinkle free and stain resistant clothing that can retain its shape. PCDT is more suitable for heavier applications, such as draperies and furniture coverings. Modifications can be introduced in each of these varieties for obtaining specific properties. PET Polyester For manufacturing PET Polyester, the main raw material is ethylene derived from petroleum. It is oxidized to produce a glycol monomer dihydric alcohol which is further combined with another monomer, terephthalic acid at a high temperature in a vacuum. Polymerization, the chemical process that produces the finished polyester, is done with the help of catalysts. The colorless molten polyester then flows from a slot in a vessel on to a casting wheel and takes shape of a ribbon as it cools to hardness. The polymer thus produced is then cut into very small chips, dried to remove all moisture and blended to make it uniform for getting it ready for spinning into yarn. PCDT Polyester This variation of polyester is made by condensing terephthalic acid with 1, 4-cyclohexane-dimethanol to form poly-1, 4-cyclohexylene-dimethylene terephthalate or the PCDT Polyester. As for PET Polyester, PCDT is processed for melt spinning. Spinning Polymer chips are melted at 500-518Â °F (260-270Â °C) to form a syrup-like solution. The molten polymer is then extruded through a spinneret and the filaments are subsequently drawn into the desired polyester fiber. Variations are introduced to obtain desired end results. Spinnerets having hole of different shapes such as round, trilobal, pentalobal, hexalobal or octalobal can be used for special effects like opacity, luster or its suppression, wicking, comfort or feel. Hollow fibers may be produced to make it lightweight and for providing greater cushioning or insulative properties. Crepe effect can be obtained through crimps. Certain additives may also be combined with the spinning solutions for specific properties. Delusterant can be added to make the fiber dull, a flame retardant may be added or Certain other antistatic substance may also be included. Drawing After extrusion from the spinneret, the fibers are drawn or elongated, with the help of godet wheels. Depending upon the desired properties, the polyester fibers are usually drawn up to five times its original length. For higher tenacity, the filaments are drawn to a greater extent. When the fibers come in contact with the air, they solidify. Usually, the PET fibers are drawn hot as it produces more uniform fibers. PCDT fibers are drawn at higher temperature due to their higher melting point. During the drawing process itself, fibers may be textured which saves time, efforts and production cost and also gives greater quality control over the finished fibers. After the polyester yarn is drawn, it is wound on large bobbins or flat-wound packages, ready to be woven into material. Types of Polyester Yarns The polyester yarns have a wide range of diameters and staple lengths. The yarns are made basically as monofilament yarns, multifilament yarns and spun yarns. Filament Yarns PET Polyester is used to make filament yarns either in monofilament or multifilament forms. The direction and amount of twists are decided by the desired end use. The properties are also pre-determined. There are various types of such yarns. There is the bright, regular tenacity polyester yarn having light, stretch and sag resistance, used for sheer lightweight fabrics like tulle, voile and organdy. The regular tenacity semi dull yarn used for various apparels including lingerie. Its more dull version is used for shirts and blouses. Polyester yarns resistant to various chemicals, and microorganisms are produced from high tenacity fibers for such industrial uses as conveyor belts, ropes and nets etc. Textured Yarns These yarns are made of PET multifilament’s. Texturizing is either done along with the drawing process or afterwards during throwing or texturizing process. Spun Yarns They are made of staple or cut PET or PCDT polyester fibers. The staple may be bright, semi dull or dull and tenacity may be regular, mid or high. It may be polished to reduce crimp and increase luster. It may either be spun alone or blended with other staple such as cotton, wool or rayon and then spun into yarn. Application of Polyester Polyester is used in manufacturing of many products, such as clothing, home furnishings, industrial fabrics, computer, recording tapes, and electrical insulation. It has several advantages over traditional fabrics as it does not absorb moisture. Its low absorbency also makes it naturally resistant to stains. Polyester clothing can be preshrunk in the finishing process. This makes it resist shrinking and it doesn't stretch out of shape. The fabric can be dyed easily, and is mildew resistant too. Textured polyester fibers are an effective, nonallergenic insulator, thus it is used for filling pillows, quilting, outerwear, and sleeping bags.

Application of Microeconomic Concepts in Personal Life

Application of Microeconomic Concepts in Personal Life Microeconomics involves observing the behavior of an economy to understand how to distribute resources. This study is very important in business world because it influences supply and demand of goods and services, which are used to set the cost of products and services. Both buyers and sellers use the two elements to make financial decisions. This paper will focus on how microeconomics concepts are applied in life.Advertising We will write a custom essay sample on Application of Microeconomic Concepts in Personal Life specifically for you for only $16.05 $11/page Learn More Supply and demand are perceived to be the most influential factors concerning the cost of goods and services. This means that if the demand of a given commodity is high and the supply of that commodity is not adequate to meet the market needs, then the cost of that item will rise. This can be worse if there is only one sole supplier because he/she will be overwhelmed by the increase in de mand. This may cause the supplier to bring goods of low quality in the market and the sellers will trade them off at the usual prices. This happens because the manufacturer produces the products in a hurry. A smart shopper should not be contended with what he/she finds in one shop, but should instead look for other places where the same commodity is being sold at subsidized price. Competition among sellers favors buyers because each of them tries to entice the customer by slashing their prices without reducing the quality of the merchandise on sale. In addition, one needs to be cautious when making a purchase and the shortage of supply should not be the issue. There are people who are known to judge the quality of an item by its price tag. This is wrong because sellers are out to make profits and to them the real worth of an item is not an issue. It is therefore important to evaluate an item because it helps decide whether it is worth the cost. Many are times when the price of an it em misguides someone, only to regret later when it turns out that the item is not as durable as we were made to believe. Besides, one cannot distinguish a pair of shoes that was bought at $20 from the one that cost the owner $50.This is because they serve the same purpose. The above scenario implies that when the price of items that we require the most goes up we should identify alternative items to serve the same purpose. This is because there is no point of buying an expensive item when there are other cheap items that can quench our needs. However, it depends on the financial status of an individual. Another option would be to wait until the supply goes back to normal. This is necessary especially when the items in question are not needed that much, meaning that the needs can wait.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Likewise, planning is quite beneficial to both th e sellers and buyers. To the buyer planning ahead helps to prevent purchasing items at high prices. For instance, when schools close a parent should purchase the items that his/her child requires in the following season because at that time the demand for books and other learning materials would be low. However, if the parent opts to wait until when the schools are reopening, he/she would pay more for an item that would have cost him/her less money if he/she had made the purchase earlier. Alternatively, a smart seller observes the market behavior and understands when the low and high season commences and prepares adequately. By being knowledgeable about changing market trends a seller obtains enough stock and lies in wait for the demand to shoot up and make his/her score. In microeconomics, it is the smartest people who continue to thrive even when conditions continue to deteriorate. Microeconomics can also be used when one intends to establish a business by evaluating supply and de mand. By observing the environment, it is easy to spot an opportunity that is yet to be exploited. This involves identifying the needs of the people around you to determine what items you can sell to them. Going blindly will cause a noble idea to fail. Some people want to venture into businesses that have been tried by others simply because they know one or two people who get huge returns from selling particular merchandise. Just because John got his wealth by selling bananas by the roadside does not mean that another person will equally succeed in the same venture. It is therefore important to study the market first to identify possible customers. The same goes for people who wish to borrow money from financial institutions. This is because it is not difficult to get the money, but the interests that will accumulate. In fact, most people fear to borrow money because of these interests. When one wishes to apply for a loan, he/she should first analyze how the money is going to be rep aid. This entails carrying out research on how interests have been changing in the past. This is because the changes in interests could favor borrowers and have a negative impact on lenders. This implies that if the interest rates came down while you have already obtained money from the lending party then you will pay less money than the stated amount.Advertising We will write a custom essay sample on Application of Microeconomic Concepts in Personal Life specifically for you for only $16.05 $11/page Learn More In such a case, the borrower should take advantage of the situation to repay the loan while the rates are still low. If the borrower hesitates, the rates could increase and thus, the amount to be repaid will increase. Alternatively, the borrower can apply for a loan that has a permanent interest rate because that way he/she would be cautioned from the changes in interests. However, if one needs to borrow money when the interest rates are still high i t would be advisable not to apply for a loan in such a situation. Changes in interest rates also influence investments in bonds and shares. An investor can purchase bonds when it is speculated that the interest rates will go up in the future. This is because the returns he/she will get from those bonds will be much greater than when the interest rates remained low. In the stock market, it is possible to make profits when the interests are low .In such a case, an investor purchases stocks when the prices are still low and sells them when the prices appreciate probably due to increase in interest rates. Moreover, microeconomics can be employed in business management to dictate when an individual should enter or exit a venture. This is because if a business is not bringing any profits there is no point of operating it because it will continue to draw money from the investor instead of generating income. This is very common during recession periods. An individual who is employed should use the knowledge he/she has in microeconomics to negotiate for salary increase. The decline in the value of a local currency provides an opportunity for an employee to demand for wage increment because the salary that was once enough to meet his/her needs is no longer useful. A concerned employer would understand this logic much better. If the employer refuses to listen to such arguments then the employee should look for another job that pays more while still working for the current employer. If the situation persists, the employee should identify ways of surviving the inflation. Some of the approaches include eliminating some unnecessary expenses such as luxuries. Alternatively, when inflation reduces the people who are not employed should increase the frequency of searching for employment because job opportunities increases with reduction in inflation. When inflation increases, the learners who graduate from learning institutions should look for ways of employing themselves becau se the job market will decline and employers will be firing instead of hiring employees.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More For individuals who participate in international trade, learning about changes in other economies would help them up their game. This is economic bubbles that are experienced in one country are extended to other countries that interact with it. For instance, if the value of the US dollar rose against the value of Japanese yen then the people who import goods from US would incur more costs. On the other hand, exports from Japan would be cheap to the Americans. In the above stated case, it would be logical for a Japanese to invest in the US because he/she will earn returns in US dollars and he/she will get more profit when the money is converted to Japanese yen. On the contrary, it would be unwise for Americans to invest directly in Japan because their investments will not yield any profit owing to the low value of the yen against the dollar. In conclusion, individuals should dare to apply the principles of microeconomics because it is only then that they can make wise decisions. Micr oeconomics is not just learned for passing exams, but because we need its insight in our day-to-day lives. This implies that consumers, sellers, and the public should make decisions that are based on what they know. If we all applied this knowledge appropriately, no one would be penalized for failing to pay his/her debts in good time. Furthermore, knowledge in microeconomics increases our bargaining power as seen in the case of employees and their quest for getting better pay.