How It Affects Economic Growth Essay Example for Free

How It Affects Economic Growth Essay In my opinion, supporting and promoting IT investment is one of the best ways to promote economic growth and stability with minimal side effects such as inflation, and easily overcome hurdles like unequal income distribution. While I don’t think you can really influence people’s personal ownership of computers, I do believe that offering tax incentives for IT investment and development will increase overall GDP, lower unemployment, and ensure an economically stable future. First and foremost, investment towards information technology increases productivity, and makes workers more efficient in what they do. With more resources such as faster word processing, 3D Model Rendering, and instantaneous transfer of data over the internet, laborers in every facet of the economy benefit from technology and enjoy greater productivity as a result. This increase in productivity means more products and services are produced with less time invested, and this means that Gross Domestic Product can go up. Furthermore, GDP is often defined as a function of both Capital and Labor. It is widely acknowledged that GDP growth can be measured by K/L, or Capital divided by Labor. Clearly, then, if each worker is using a higher value of capital (here in the form of fancier computers etc), then GDP is sure to go up. The concern then becomes, â€Å"what about inflation?† Surely, if GDP goes up, inflation will follow, no? Not quite. The accompanying graph gives us a rough idea of why. This increased efficiency will shift the Philips curve inward, meaning that for every unemployment rate, there is less inflation. More IT investment will mean that we will require more service technicians, troubleshooters, software programmers, etc, and we will see unemployment go down. Also, with more children learning about IT, they will also be more likely to get jobs when they grow up. When unemployment goes down, though, we typically see that there are less available â€Å"desperate† workers, and thus workers will have more power to bargain collectively. They will get wage increases, which will be passed on to consumers in the form of higher prices on final goods and services. This is offset by increased efficiency, as it takes less worker hours to make those products and services. As the Philips curve below shows us, the decrease in unemployment WOULD cause higher inflation, but because of increased efficiency, this change in inflation is offset. It is important to note the short run and long run effects of tax incentives on both the macro and micro levels. Here is a graph to get us started: We know that in the short run Demand shifts out as IT becomes more and more necessary. Supply shifts out because manufacturing costs go down, and thus existing firms will produce more at every price. These reductions to cost shift MC and ATC down; we don’t’ know how much each of these shifts is, though. We don’t know what P2 is, but we know that costs go down, so there is abnormal short term profit, and we know that each firm is going to produce more. In the long run, more firms will enter (shifting supply out further) until each player in the market is operating at their lowest cost on the ATC curve, which is the point where long run profits are equal to 0. We know that long run market quantity is greater because there are more firms in the industry, and we know that each firm produces in the long run what it did before all the shifts. Each firm is producing more in the short run than in the long run. Assuming that the government offers tax incentives to BOTH SUPPLIERS AND BUYERS of IT, we can expect to see the same demand shifts and supply shifts as we did in the 90s, when demand shifted out and the cost to produce came down. The tax rebates to suppliers means a reduction of cost (same as in the last example) and the tax rebates to buyers will make the price they have to pay lower, which will increase demand. One of the few drawbacks to the subsequent increased IT spending, of course, is the negative effect on the environment, as computers become obsolete quickly and are usually just thrown out. In my opinion, the environmental effect is definitely a huge drawback to increased IT investment. I believe that the government should give further incentives to companies who donate old or â€Å"B-stock† products to schools (preferably those in bad areas) or charities when they buy new ones . Donating these slightly flawed or last-year-model computers to schools would be an investment in human capital, which would increase GDP in future generations, as children become more tech savvy and productive with computers. Since the government is reducing the cost of production with tax incentives, I think they could get away by contrasting these incentives with slightly stricter environmental regulations as far as waste goes. They should set requirements on the packaging (which is created solely to be thrown out) that comes with IT goods, and should give even more incentives to companies that collect and recycle re-usable components such as circuit boards, plastic cases, and semiconductors – all components that are not biodegradable and are a large part of the junk filling our nation’s landfills. Another set of short and long term effects you must consider is the effect of tax incentives on those already involved in the market: IT workers. Again, we have a graph to help us visualize these effects. For this discussion, because of inflation, we must assume that we are talking in terms of real dollars, and that these wage prices are adjusted for inflation. In the 1980’s (short run), as IT became more important to industry, we see the demand curve for IT work shift outward, causing an increase in price and quantity as more qualified people started doing IT. In the long run, more competitors enter and the number of CS majors doubles; supply shifts outward, but we’re not sure by how much. We know that real wages go back down, but we don’t know if they are above, at, or below the original prices. We just know that they are decreasing, and that the overall quantity is much higher. The last major concern would be the â€Å"Digital Divide† – the concept that low income families do not use computers and thus are isolated from their potential benefits. This â€Å"digital divide† essentially means that poorer families have less access to the computer and tech skills to compete in the modern job industry, such as word processing and online research. They also have less access to online educational resources, and thus have less human capital. This means they are less likely to rise out of poverty, and are at a disadvantage. Those fortunate enough to be able to afford computers internet access will get more educated and richer, and those who are not fortunate enough get poorer. I personally am against racial discrimination in all forms, and I think targeting out minorities and saying â€Å"here, you need a computer† is wrong. I do, believe, however, that there should be some sort of program to give less fortunate children of all ethnicities the IT skills and access to computers that they will need to function in the modern labor market. This is where my idea of offering tax incentives to companies that donate â€Å"last year model† computers to charities or schools in bad neighborhoods could really benefit these people and help them accumulate human capital. I think that offering tax incentives to people who put computers in their home will be too difficult to manage, and I also think that in many cases, people without the means to get a good job (no technical background) will not be able to afford a computer either way – thus, it’s a vicious cycle. Additionally, I think people who can’t afford $40/mo for DSL are in this predicament because they don’t have technical skills, and thus, probably don’t value technology as much as they should. They probably still won’t be interested in broadband. I think the president’s broadband initiative should focus more on getting faster internet and more technical training into schools, so that the next generation, who still has the desire and patience to learn about computers, can do so at an early age. Overall, you can see that there is a long list of benefits, and a short list of easily overcome problems with increased investment. In fact, even the Fed benefits. Normally, increased investment would make the Fed have to increase interest rates to prevent inflation and â€Å"cool off† the economy. IT is unique, however, in that it also provides greater efficiency, thus shifting the curve as discussed earlier. I would argue that it makes the Fed’s job easier – it’s promotes economic growth and employment, without jeopardizing economic stability. All in all, I say that giving tax incentives to producers and suppliers of IT goods and services is a great plan!

Keys To Success And Critical Issues Marketing Essay

Keys To Success And Critical Issues Marketing Essay Mcayain knives is owned and operated by Mark Hopper who is a Master Blade smith and experienced Blacksmith who has been in the Industry since the age of 15. Mcayain Knives will be a new venture for Mark Hopper whose main business is working on big architectural iron work for companies and home owners. Mcayain knives will be introducing a new product line of three designs of custom made knives that will target outdoor enthusiasts for example the fishermen, tactical groups and Hunters. The knives will be of high quality, tough, durable with a superb cutting edge. The knives will have edge holding abilities; this means with use they retain their sharp cutting edge and low edge wear guaranteed. The cryogenic steel making technology that Mcayain will use to make its knife is one that no other knife manufacturer is using at the present time, and will provide a knife that most outdoor enthusiasts will hopefully embrace to cater for all their needs without worry that they may have with other knives like edge holding capabilities. Mcayains marketing goal is to meet the needs of every outdoor enthusiast in the market in the future and to get their specialty knives out to every outdoor enthusiast including their target market of hunters, and fishermen. Mcayains will use pull strategy by advertising in Blade magazine, knife illustrated and Tactical knife Magazine which are the top knife magazines in the U.S on a monthly basis to drive consumer sales and brand awareness. Participating in trade shows and also driving consumers to check out their interactive website. Mcayain intends to sell 9,600 units and 10,560 units of Knives in 2009 and 2010 respectively. The units will bring sales of over one million dollars in the first year and hopefully increase at a 10% increase each year. As long as Mcayain keeps selling their knives at a steady rate then they will keep growing their profits as the years come. The most important factors for Mcayain to succeed in the business is for them to get notoriety for its quality of product being tough, offering a superior edge and having good design. With so many knife companies out there Mcayain will have to stand by their steel forging technology that provides a more superior outdoor knife that its competition and deliver the best interactive custom knives to their customers. Mcayain Knives fatal problems that they may incur would be Competition getting their technology and making similar products. Legislation of laws that may ban carrying and use of fixed blade knives. Mcayain would have to be a trend setter and move as the market moves and always be a step ahead of competition. Also a forum on their website for informing customers of existing laws and how it affects them then and how to lobby if needed. Product Mcayain specialty Knives will produce and Market a new product line of custom made knives that will target and appeal to customers, who are interested in high quality, tough, durable knife with a superb cutting edge. The knives will have edge holding abilities, this means with use they retain there sharp cutting edge and low edgewear guaranteed. Mcayain will offer designer style knives, which are not only good looking with great aesthetics but at the same time a knife that will function in any weather or climate. Through its marketing and promotion efforts, Mcayain knives will appeal to many customers who enjoy active outdoor lifestyles for example fishing, hunting and tactical exercises. The customers will have internet options that they can use to get interactive with the whole knife making process, they will have options as to what handle materials they want to use, the case materials and other accessories like fire starters and sharpening stones. Mcayain knives will offer three patterns of knives; the first one will be the skinning knife with a 3.5-inch blade, tactical life, with a 7.5-inch blade and the third one, which is a trout and stream knife with a 5.5-inch blade. The steel for the blades will be made using two types of technology mixed together, which are the old and the new. The old will be using forging techniques where steel is shaped by hammering and the new using cryogenic hardening which is using different temperature methods. These knives will have different steel finishes, one being a Teflon coating, which is a durable, non- reflective black finish which will appeal to a lot of the customers who enjoy hunting and who dont like a flashy knife. Another steel finish being offered is the tumbled finish, which is a matte, metallic finish. A mirror polish which has a high polished look and these will be targeted to customers who like shiny knifes. The last steel finish that will be offered will be the bead blasted finish, which is a satin metallic finish for all customers. As handle materials Mcayain Knives will offer black linen Micarta which is a tough durable synthetic material that is bonded together with linen cloth. This coarse texture helps for non-slip purposes and durability features. Another option will be the use of Cocobolo wood; this is a deep rich wood for those customers who want something pretty on their knife handles, paracord wrap/ carbon fiber and aluminum handles that are ductile, tough and offer non-slip features. The cases for the knives will be made from three different materials. The first one will be regular traditional leather. The next material for the cases will be Ripstop Nylon case, which is a lightweight case that packs close to the body and can be attached in different ways. The last option will be a Kydex case, which is a semi rigid form of plastic that is known to be tough and durable. All cases offer multiple hanging options, clips, leg harness and traditional belt loop. Mcayain Specialty Knives is offering its target market a product that is not being offered by the other knife companies in the business. The knives offered could withstand any climate or extreme condition and at the same time offer customers the options to build a customized knife according to their preferences from start to finish. A lot of Knives in the market which are being offered by top companies like Buck knives or SOG knives provide one or two of the options being offered by Mcayain knives. Industry Analysis The the last few years have been a time of transition for the knife industry. Forces within and outside the business have worked to reshape designs, materials and the industrys distribution channels (Calandra, B. (2006). On the cutting edge. Retrieved July 24, 2008 from http://www.sgblink.com). The fixed- blade segment of the industry, which is hunting, fishing and outdoor knives, has seen the most change. There has been increase in sales because of the new designs which use new technology, lighter, durable products with better cutting edges, (Calandra,B.( 2006). On the cutting edge. Retrieved July 24, 2008 from http://www.sgblink.com). According to ( Tabor, T.C. 2007).  January, Choosing the right hunting knife.  Countryside and Small Stock Journal,  91(1),  57-59.   Retrieved July 24, 2008, from Research Library  database) there is still the hardcore hunting, fishing and outdoor consumers who are buying the best quality, high tech knife with new steel and interesting blades and state of the art handles. With this in mind Mcayain knives as described in the product analysis will continue using the best steel and offer new designs that the outdoor consumer wants. The Knife industry continues to evolve with each passing, the outdoor market is looking at lightweight knives like water knives and durable, coated knives that can withstand a lot of water and tear, (Snow, J. 2007,  September. A Cut Above.  Review of Outdoor Life,  212(8),  78). Consumers of specialty knives are willing to spend money on a knife that will make their outdoor or everyday lives easier (Fowler, E. 2007). Knife Talk: The Art and science Of Knife Making. Iowa: Krause Publications). Many of them have multiple knives that they keep in their collections, trucks, boat or one on their belts (Fowler, Ed. (2007). Knife Talk: The Art and science Of Knife Making. Iowa: Krause Publications). Many people who are involved in outdoor activities or live in rural areas have a need for more than one knife and often make additional purchases where the initial purchase was made. A lot of business for specialty knives occurs during gift-giving occasions and when the hunting and fishing season begins (Fowler, Ed. (2007). Knife Talk: The Art and science Of Knife Making. Iowa: Krause Publications). A lot of businesses in the knife industry, even the small ones make sales in the millions each year, (Snow, J. 2007,  September. A Cut Above.  Review of Outdoor Life,  212(8),  78). Despite tight laws in knife carrying due to the senseless September 11 attacks, during which the knife industry worldwide experienced a slow in sales, knives are still selling and the knife market is here to stay with great potential for new businesses ( Kramer, B. (20   March). Buck Knives finds success through lean manufacturing.  Knight Ridder Tribune Business News,1.   Retrieved August 09, 2008, from ABI/INFORM Dateline  database). Market Summary According to Dan Bumps from Blade Magazine the average specialty knife buyer is male and between the ages of 30-70 years old, with education beyond high school. Most are professionals (23.4%), proprietor/ self employed (13.7%), Managerial (10.6%), Technical (14.8%) and Blue collar (19.3%) with other (8.4%) ( D.Bumps, personal communication, July 28, 2008) An average outdoor enthusiast owns an average of 132 knives in his collection; and has a knife collection worth 10,089 dollars; they purchase an average of 27 knives annually and spend an average of 1,473 dollars annually on their outdoor hobby (D. Bumps, personal communication, July 28, 2008). Dan Bumps from Blade Magazine continues to mention that the average household income of this industry is 84,507 thousand dollars and are willing to spend money on a knife that makes their outdoor life easier(D.Bumps, personal communication, July 28, 2008). Mcayain knives will fulfill market needs by introducing their knives to three subsets. The first sub-market is the hunting enthusiastic who comprises of roughly 15% of the total target market. These are the individuals who enjoy deer hunting and want a good working knife for dressing animals, while offering exceptional cutting edge advantage which is durable, comfortable and easy to use. The second sub-market is for those customers who enjoy fishing and comprise of another 15% of our market; these are the sports fishermen and casual weekend users on the lake. They will use the knife for cutting bait, preparing the fish (scaling and gutting) and a knife that is comfortable, light, with superb quality. The final sub-market is for the outdoor enthusiasts who make up the most of our target market at 70%. They are the customers who have to have these kinds of knives whether for show or use. They are the individuals who are perceived serious about the outdoors and use different opportunities to show their knives and skills in outdoor sports or other challenges. Market trends show that outdoor enthusiasts are after knives that are user friendly and can perform multiple tasks. Todays buyer is after as much versatility and quality as can be packed into one package (Fowler, Ed. (1998). Knife Talk: The Art and science Of Knife Making. Iowa: Krause Publications). Market trends also show that the consumer wants multi tools, which is essence is a pair of folding pliers high breed with a Swiss army pen knife. This knife has utilitarian tools such as a saw, bottle opener, screw drivers, knife blade, scissors, and files (Troy, M. DSN Retailing Today, Oct 2, 2000,, Retrieved on July 18, 2008, from http://findarticles.com/p/articles/mi_m0FNP/is_19_39/ai_66034876 ). This market is something that has been well covered by other businesses and is not something Mcayain Knives is willing to venture into because the multi tool is essentially a pair of pliers and we strive to specifically make a hard working knife. Another trend in the knife industry is the tactical knife, which is a knife you have to make do with for whatever you need it at the time, whether that means to cut a person out of a wrecked car or defend yourself from an attack (Pohl, D. (2003). Tactical knives. Germany: Krause publications). This is going to be close to 50% of Mcayains Market. It is the fastest growing portion of the knife market today. According to blade magazine, 82% of consumers will increase or maintain knife buying level over the next 12months. There is potential Market growth in this knife industry that will come from new products, not old (Calandra, B.( 2006) On the cutting edge. Retrieved July 24, 2008 from http://www.sgblink.com ). Calandra says that this new growth will come from Outdoor recreationalist and not just from traditional hunting and fishing categories. The Competition Three companies lead the target market that Mcayain knives are venturing into. Primarily Buck Knives command the majority of all the recreational knife market in every genre. This for Mcayain knives would be like trying to topple coca cola but to steal 1% of their market would mean a huge profit to Mcayain. Buck knives competitive advantage lies in their over 100 years of knife making and 35million dollars in sales in the fiscal year of 2007 according to Hoovers(Buck Knives Inc. (July 15th). Retrieved July 23, 2008, from Hoovers Company Records  database). SOG knives are the second largest competition for Mcayain knives. SOG originally stood for Studies and Observation Group, an elite joint services military group designed for covert operations in the Vietnam War. Sanctioned to develop and purchase their own equipment, SOG created a knife for use in one of the harshest environments in the world. (SOGKnives, Retrieved July 23, 2008 from http://www.sogknives.com/store/index.html). SOG has a well established specialty market, they provide consumers with good quality products that have been brutally tested and designed by top military weapon designers (Hartnik, A.E. (2005). The Complete encyclopedia of Knives. New Jersey: Chartwell Books). SOG has an added advantage of having contracts with several areas of the military providing them with edged tools that can be used in combat situations or outdoor recreation. Cold Steel knives are the third largest competition for Mcayain knives. They are very meticulous in making their knives, there choice of metal is very specific and their hardening and tempering process is chosen for their superior qualities in cutting abilities and blade strength. Their steel is specially made; all their blades are forged and cryogenically hardened which provides them with a very innovative and technologically advanced process which most knife manufacturers have deemed too complicated and expensive to undertake (Pohl, D. (2003). Tactical knives. Germany: Krause publications). Cold steels market share includes the martial artist which opens up a totally untapped market by Mcayain Knives. Another added advantage is that cold steel offers San Mai III, which is laminated steel used in making their larger knives, tougher, more flexible and virtually unbreakable while still retaining their high quality cutting edge. No other knife manufacturers offer this because it is too complicated to do.( Pohl, D. (2003). Tactical knives. Germany: Krause publications). Future competition for Mcayain knives comes from Diamond Blade Company. This company is an up and coming company whose innovation in cutting edge technology has taken the knife industry by surprise (Knives Illustrated, 2008, Retrieved July 23, 2008, from http://www.knivesillustrated.com/ ). They have spent the last five years developing a way to create differential hardeners in their knives and improve the edge holding ability exponentially from traditional knives. Diamond Blade Company has managed to develop steel that is over 300% more wear resistant than conventional D2 steel but still flexible enough to bend at 90 degrees without breaking, which ensures a superior knife(Knives Illustrated, 2008, Retrieved July 23, 2008, from http://www.knivesillustrated.com/ ). Keys to success Critical Issues There are several things that Mcayain knives need to do to succeed:- Mcayain needs to get notoriety for its quality of product being tough, a superior edge and having good design. This will be done by editors of magazines having the product for destruction testing. Mcayain needs a superb advertising strategy that brings awareness of the quality and diversity of its products. This would be both in print media and electronic media targeting not only the conventional knife user for example the hunters, fishermen but also cyclists, gun collectors, golfers or runners who might be interested in a specialty knife. Mcayain will need to design and produce products that meet market demand. Mcayain has to pay attention to the following critical issues:- Constantly monitor customer satisfaction, ensuring that the growth strategy will never compromise service and satisfaction levels. Mcayain has to establish itself as a market innovator that listens to its customers desires and needs. Mcayain needs to pursue controlled growth that dictates that all expenses will never exceed revenue base, this will help protect against recessions. Marketing strategy Mcayain has a limited budget, so the marketing strategy will be simple. Mcayains goal is to meet the needs of every outdoor enthusiast in the market in the future and to get their specialty knives out to every outdoor enthusiast including their target market of hunters, and fishermen. Developing visibility and brand equity is the key. To do so, Mcayains will use pull strategy by advertising in Blade magazine, knife illustrated and Tactical knife Magazine which are the top knife magazines in the U.S on a monthly basis to drive consumer sales and brand awareness. Participating in trade shows and also driving consumers to check out their interactive website. Mcayain is offering three knife patterns, the skinning knife with a 3.5-inch blade, tactical knife, with a 7.5-inch blade and the third one, which is a trout and stream knife with a 5.5-inch blade. The pricing structure of the knives is based on a tumbled finish blade and a cast aluminum handle in a rip stop nylon case. The basic price for the skinner is 130 dollars, trout and stream price is 140 dollars and the tactical knife will be 150 dollars. Additional blade finishes, additional handle materials and case options are add- ons that will increase the price of the knives according to customer needs and preferences. Using its interactive internet site, Mcayain will offer consumers chances to win free custom made knives by having competitions on who will introduce the most customers to the site, discounts for customers who purchase knives on a regular basis using their customer database to increase and drive sales. Marketing objectives The Knife Industry is a very competitive industry which is always changing. It is vast and diverse with many different levels of businesses from the large manufacturer to the single custom maker. Over the next three years Mcayains is targeting a Market share of roughly 2%. This may seem as a small percentage but in actuality it will give Mcayains a profit in the millions. Considering our main competitor Buck knives Inc, made $35 million in sales in 2007, and just to claim 2% of their Market would give Mcayains a profit of $700,000. This would just be one of the competitors Market share not including the rest. This will be done by Maintaining steady growth in each month by developing new products and features and allowing the customers to have more influence in the creation process of their knife. Also Mcayain will grow through increase in new customers who are turned into long-term customers. Financial Objectives Table 1: Production cost for Mcayain Tactical Knife (Most Expensive in the line) Manufacturing cost $ D2 Steel 6 Aluminum Handle 1.50 Handle Bolts 3.50 Rip stop Nylon 1.50 Press studs .75 Drill bits 2 Carbide chip 5 Ceramic belt Forging time:- 5minutes Machining of blade:-30minutes Sharpening:- 15minutes Heat treating :- 10 minutes 7 1.70 10 5 3.40 Machining Handle:- 10minutes Making case:- 30 minutes Assembling parts:- 5minutes Power TOTAL COST 3.40 10 1.70 20 82.45 The price unit of a tactical knife is $150; it costs Mcayain $82.45 to manufacture it. Advertising, Insurance and Workshop Rent are ongoing monthly expenses which equate to $7640. From the Manufacturing costs calculations, Mcayain can make 800 knives a month this divided into the ongoing monthly expenses gives an additional cost of $9.55 per knife. The total production cost for a knife is 82.45+ 9.55= $92.00 This gives Mcayain a profit of $58.00 per unit. This is a profit Margin 38.7% Mcayains major in-house expenses would involve new dyes for the forging process, CNC programming for machining centers for blades and handles. The dyes would cost $2,000 a piece per design ($6,000). CNC programming would cost $1,000 per design ($3,000). This would be a total of $9,000 in expenses. Taking our profit of $58.00 per unit and dividing into our total expenses of $9,000 we would need to sell 155 units to make profit. Mcayain would expect to be profitable within two months of advertising. Positioning Strategy The knife Industry is quite competitive and always changing, in order for Mcayain to obtain a good market share it should create PODs (points of differences in their knives. The number one thing going for Mcayains knives is the superior quality of steel and the cryogenic way of forging it that no other knife company is doing right now. As a web-based company it will offer interactive features that the customer can get involved in. Customers will be able to go in and design their knife from scratch to finish and change features as they wish and Mcayain will custom make the knives according to the customers preferences and mail it to them. Mcayain intends to keep up with customer needs and add new features and interactive capabilities to their Website and Knives. Marketing Mix Mcayain intends to use more than one marketing channel to increase market coverage and decrease any channel costs that they may incur. To do so they will use a multi-channel market system (Kotler, P., Keller, K.L. (2008).Marketing Management, 13e. (p.468-470). Upper Saddle River, NJ: Pearson Prentice Hall). The company will use direct marketing by selling all its 3 kinds on knives on line. The customer as mentioned before will be able to design their knife from the first stage to the final stage according to their preferences. If customers do not want to custom make their own design then they will have options to simply buy the ready-made knives. Customers will be able to go online, read reviews and get every detail of information about the knives. If they have any questions they can either email write or call and customers will be able to order knives through mail and phone. Advertising is one of the major channels that Mcayain intends to use and spend a lot of money on in pushing their product and creating brand awareness. Mcayain intends to advertise in the top three Knife magazines in the US market which are, Knife Illustrated, Blade Magazine and Tactical Knifes. The advertising cost for a 4 color full page advertisement is going to cost Mcayains a total of $ 10,920 a month in all three publications. Mcayain intends to send samples of their knives to Knife magazine editors, outdoor teams and Military tactical teams to test their product. Mcayain believes their product is superior and will sell itself through these channels. Word of mouth will help spread the word about the knife and hopefully drive customers to the Internet site. The company will use the magazines advertising to promote sales by offering customers to send in design ideas and vote on the best, and whoevers design gets chosen receives a free custom made knife. This will drive traffic to the site and hopefully get Mcayain some sales. Mcayain also plans to attend craft/ trade shows to show case their knives to all the knife enthusiasts attending. In the US a lot of knife shows are held throughout the calendar year. This will introduce the knives to any new potential customers and anyone else who would be interested in knowing about the Knives. Financial, Budgets and Forecasts The following sections provide the breakeven analysis, sales forecast, and expense forecast for Mcayain Knives. As a benchmark Mcayain knives will use the Tactical knife pricing to calculate its profit and loss because this is the more time consuming of the three designs, so the comparable percentages or profits of the knives are the same which is 38.7%. 12.1 Break Even Analysis With an estimated fixed cost of $445,640 for, 2009, the breakeven is: Break Even = Total fixed costs/ Unit contribution= 445,640/ 58 =7684 units. Mcayain Knives targets to sell 9,600 knives this comes from calculating how many knives they can make in a year. (800* 12). Therefore the profit for 2009 becomes: Profit = (9,600* 58) 445,640) = $111,160 The calculations are same for years 2010 and 2011. Table 2 shows the break even and profit for the next three years. Table 2. Break even and profit Impact for the next three years. Year Units sold Fixed costs Break Even Profit 2009 9,600 knives $ 445,640** 7684 knives $111,160 2010 10,560 knives* $ 436,640** 7529 knives $175,798 2011 11,616 knives* $ 436, 640** 7529 Knives $237,046 **Fixed costs are estimated for all three years. * Units sold for 2010 and 2011 are estimated assuming 10% market increase every year. 12.2 Sales Forecast Table 4 provides the sales forecast for the next three years for Mcayain Knives. Sales for 2009 are calculated using the following equation: Sales= Price per unit* units sold= $ 150 * 9,600 knives = $1, 440,000 Table 3:- Sales forecast for the next three years. Year Units Sold Price Per Unit Sales 2009 9,600 units $ 150 $ 1,440,000 2010 10, 560 units $ 150 $ 1,584,000 2011 11,616 units $150 $ 1,742,400 12.3 Expense Forecast Table 4 gives the expense forecast for the next three years. Expense for 2009 is calculated using the following equation:- Expense = (variable cost per unit * units sold) + fixed costs = ($92 * 9,600) + $445,640 =$1,328,840 Table 5:- Expense forecast for the next three years Year Units sold Variable cost per unit Fixed costs Sales 2009 9,600 $92 $445,640 $1,328,840 2010 10,560 $92 $436,640 $1,408,160 2011 11,616 $92 $436,640 $1,505,312 Marketing and Sales Organization As of right now Mcayain Knives has no sales or Marketing force in the Organization. The manager/ Owner of Mcayains, Mark Hopper intends to do all the initial Marketing of the product by attending trade shows, dealings with knife magazines and sales pitches to any potential clients. The reason for this is that all the other staff are production staff except for the secretary who makes sure all knife orders are fulfilled and shipped to customers. Mark Hopper who designed and developed the products and the processes that involve in making the knives, feels that his knowledge and experience of theses knives puts him in the best position to communicate the qualities and the designs to his future clients. Therefore he is the best for Marketing Mcayain Knives. In the future Mcayain Knives would like to have a specialized team of people who move upward from their original production positions into sales, management and product design and development positions. This will give the staff in these positions in-depth knowledge of the production processes and the product, which will aid them greatly in their new roles. Contingency Plan Mcayain knives is versatile enough to move with the trends of the market as well as being a trend setter. This is due to the fact that coming up with a new product would only be a $10,000 investment in CNC programming, tooling and die making. Right now Mcayain knives produces only fixed blade knives rather than folding knives or multi-tools, so it does not cover all aspects of the knife market, this could be seen as only having a single sale strategy. Another risk could be caused by legal legislation outlawing the carrying and use of knives; this would have a detrimental effect on Mcayains market. Competition is always a concern; this is because it is very simple in the knife industry to take someones idea and develop it further. To minimize the Market moving and Competition, Mcayain Knives has to be a trend setter in the interactive designs of knives. They have to make sure their products are always exceptional and constantly developing. Keeping the customers excited in what they will do next. For legislation laws Mcayain Knives intends to open a forum on their website informing people of proposed legislations and possible movements within the law.

Hyundai-motor-company-report

Hyundai-motor-company-report PART 1: HYUNDAI MOTOR COMPANY REPORT Business Description Products and Brand: Hyundai Motor Company (hereafter, HMC) formed in 1967, was a part of the South Korean Chaebol the Hyundai Group. In the last four decades, HMC managed to establish itself as a most prominent automaker producing reliable, technically sound and stylish automobiles and commercial vehicles. Headquartered in Seoul, South Korea, HMC opened a new chapter in the history of the Korean automotive industry by exporting its first proprietary model, the Pony, to Ecuador in 1976. In the 1980s, HMC exported the Excel to the U.S. In 1991, HMC achieved technological independence by developing the first propriety engines and transmissions. Currently HMC has 78,539 employees around the world working in eight manufacturing plants, 12 RD centers, 5,300 dealerships and sales companies, and CKD plants. As of 2010, HMC established as a global automaker that produces more than three million high-quality passenger and commercial vehicles for sale in 190 countries each year. By enhancing Brand image through high quality products and unique marketing initiatives, once again, HMC is the first and the only Korean automaker to be listed in the Top 100 Global Brands in 2010 by Business Week and Inter-brand since it first entered the Top 100 Global Brands in 2005. Revenue and Profit: In spite of the persistent uncertainties in recent business conditions, HMC achieved some significant milestones in automaker markets in the past few years. In 2009, HMC succeeded in selling 2.4 million vehicles overseas, a meaningful accomplishment considering the global economic crisis. In particular, Elantra, Genesis, Genesis Coupe, Santa Fe, and Veracruz were recognized as the best sales and safest cars in their categories by leading agencies and the media in the US, also, HMC achieved cumulative export sales of 1 million cars in Africa. HMC pledges continuous growth by maximizing brand value in developed markets and expanding its sales capacity in emerging markets. In 2009, HMC posted 31,859 billion KRW in sales. Operating profits increased by 19% to 2,235 billion KRW. The operating profit margin increased by 1.19% to 7.02%. Net profit surged by 104.5% to 2,962 billion KRW and HMCs total assets increased by 12% to 22,029 billion KRW. Despite increased sales and profits, tax payments to the central and regional government decreased due to corporate tax cuts and increased tax exemptions associated with increased RD investments. Financial Performance 2007 2008 2009 Sales (in billion KRW) 30,620 32,190 31,859 Operating Profit (in billion KRW) 1,946 1,877 2,235 Net Profit (in billion KRW) 1,682 1,448 2,962 Operating Profit Margin (%) 6.36 5.83 7.02 ROE (%) 4.91 7.65 14.21 EBITDA (in billion KRW)* 3,111 3,197 3,649 Total Assets (in billion KRW) 18,203 19,652 22,029 (Source: 2010 Sustainability Report, Based HMC operation result only, * EBITDA =EBIDTA : Earnings before interest, taxes, depreciation and amortization) In 2009, HMC jumped to third on the list of Fortune Korea Top 20 Korean companies and generated 91.46 trillion won in revenue, up 14.7 percent from the year 2008 and 2.97 trillion won in net profit, up 246.7 percent (Source: www. koreatimes.co.kr). In 2010, HMC announced global sales of 3,612,487 units (domestic plants: 1,730,682, overseas plants: 1,881,805). Sales revenue rose 15.4 percent to 36.8 trillion won from a year earlier as the company sold more cars and improved its product mix, while operating profit also rose 44.4% to 3.2 trillion won. Net profit increased 77.8 percent to 5.3 trillion won. Hyundai aims to increase sales and enhance brand image in 2011 by introducing new models specifically designed for local customers. In the next decade, HMC will continue in its endeavor to become a leading global automaker company through driving growth the development of world-class eco-friendly vehicles. HMC is striving to develop environmentally friendly vehicles including hybrid electric vehicles; fuel cell electric vehicle and pursuing two-prolonged Blue Drive initiatives which focus on fuel efficiency and the development of alternative fuel vehicles as a fundamental solution for climate change energy security. In the future, HMC focus on vehicles that run on various bio fuels. For the U.S. and Brazil markets, HMC develops flex-fuel vehicles that run on a mixture of ethanol and gasoline. In Europe, where diesel cars are sold in great proportion, the EU has a set of technical standards for diesel fuels with biodiesel content made of palm, rapeseed, soybean and other plant resources, and all HMCs models are capable of running on diesel fuel mixed with biodiesel. Remarkable success since 2007: In 2007, HMC received National Environmental Management Awards Presidents Prize and sales in US exceed 5 million units; its products i30 selected as Car of the Year in Australia; Accent (Verna) selected as Best Car of the Year by the Indian automobile magazine Overdrive; Azera (Grandeur) ranks first in J.D. Power and Associates consumer satisfaction survey. In 2008, HMC received Global Green Management Excellence Award, Global Reporting Initiative Award; it ranked first in National Customer Service Index (NCSI) for eighth year in a row, Avante (Elantra) exceeds 5 million units in accumulated sales; In 2009, HMC was selected as Best Company in terms of customer satisfaction in the automaker category by a consumer research group in China; it ranked Top 60 in Global Brand Value by Business Week and selected as Best Marketer of the Year in the US; Its product i30 and Grand Starex awarded as Best Cars in Australia for the second consecutive year; TAU engine selected as winner of US Wards AutoWorld 2009 10 Best Engines for the second consecutive year; received Presidential Prize at the 2009 Korea New Technologies Award. In 2010, HMC placed in the Top 100 Global Brands in 2010 based on a joint study conducted by Business Week and Interbrand and was named Carmaker of the Year by AM, UKs leading auto trade magazine, in the AM Awards 2010. The TAU 4.6 engine was selected as a winner of the 2010 10 Best Engines of the US automotive media Wards AutoWorld for the second consecutive year. Corporate Responsibility Corporate Social Responsibility (CSR) was the key issue in company society relations. CSR has taken a core position of Hyundai Motor included three areas: trust-based management, environmental management, and social contribution. For trust-based management, HMC focused on labor relations enhancement, mutually beneficial cooperation with suppliers, ethics management and transparent management. As for environmental management, HMC proactively responded to global trends and environment regulations. For social contribution, HMC enlarged its capacity and obtained expertise to effectively carry out global social contribution projects and participated in volunteering programs, contributed to development of local communities. In 2007, HMC established the Hyundai Motor Global CSR Network with primary production and sales subsidiaries around the world and also laid foundations by promoting global CSR activities and by developing and opening the Global CSR Web site for information exchange. Challenge of sustainability: Sustainable development satisfies the needs of the present generation without compromising the chance for future generations to satisfy theirs Brudtland Report (1987). Enhancement of stakeholder value through achieving economic profits, environmental soundness, and the fulfillment of social responsibilities in corporate activities with a long-term perspective is the goal of sustainable management. To social and political sustainability, HMC has increase value to stakeholders through engagement and collaboration. To economic sustainability, HMC has responded to fast-changing demands of global customers by fully utilizing strategically placed production and RD facilities and fulfilled fundamental responsibility as a corporation by sharing economic value with various stakeholders including shareholders, investors, employees and suppliers. To environmental sustainability, HMC has tackled the twin challenges of climate change and energy security by developing green technology. HMC develops environmentally-friendly vehicles and the establishment of low carbon value chains to achieving reductions in greenhouse gas emissions. In addition, HMC has establish ed a comprehensive hazardous materials management system and making effort to minimize impact on air quality. Climate change: Climate change is the most important issue to be tackled among five core Environmental Management Areas including Recycling and reuse, Air pollution, Hazardous materials, Environment Management System, Climate change. Since increased consumers preferences for low carbon products, therefore, HMC has invested a large amount of resources into the vehicle energy efficiency improvement technologies. HMC has established and implemented a comprehensive environmental strategy throughout the entire lifecycle of products. Its Blue Drive is a strategy that focuses on fuel efficiency improvement of vehicles power by internal combustion engine and the supply of zero emission vehicles in the future. Facing to multiplied challenges of climate change, HMC has striving to develop vehicle that run on various bio-fuels and hybrid electric vehicles, fuel cell electric vehicle, environmentally -friendly vehicles and the establishment of low carbon value chains to achieve reduction in green house gas emis sion. As a first achievement, HMC is the worlds first LPG Hybrid vehicle using proprietary technologies in July 2009 and release in the North American market and the domestic market in 2010. Engages with external stakeholders: HMC conducts business in an open transparent manner to earn and maintain the trust of all relevant stakeholders including shareholders and investors, customers, suppliers, government and communities. HMC have been sharing relevant information with all stakeholders via its sustainability report since 2003. HMC also tries to promote fair trade, mutually beneficial transaction with business its partners. With customers, HMC has been operating a customer service center that handles customer complaints and inquiries for improving customer satisfaction, reflect customer opinions about product and service by means of including regularly scheduled customer satisfaction surveys, customer services hotlines. The success of a surprisingly bold campaign with a new assurance program, which guaranteed customers to be able to return newly bought cars with no credit damage in the case they lose their income amid the still prevailing financial crisis. For suppliers, HMC created the Mutually Beneficial Cooperation Fund and a number of win-win supplier support programs designed to ensure shared growth with suppliers. In 2008, HMC signed a fair trade agreement with approximately 2,400 suppliers to further increase fairness and transparency collaboration with parts suppliers its essential in achieving high product quality in automobiles. HMC has made a sustainable effort to maximize shareholders and investors value through the increasing value of HMC by cash dividends most important means of sharing company profits. In 2009, HMC declared cash dividends of 1,150 billion KRW per each common share. HMC also paid taxes to central regional government, local community and social distribution expense and launched tailored social contribution activities, organized an active employee volunteer service program which serves as the driving force for Moving the world together social contribution campaign. In 2009, 25,851domestic employees participated in volunteer community service. In conclusion, HMC is more likely to achieve success in the long term by taking responsibility for the economic, social, ethical and environmental impact of its activities. Crisis Management In 2007, the antitrust agency of Korea fined HMC an amount of $ 25 million for violations in businesses. At the same time, Hyundai chairman Chung Mong-koo came before the court for corrupting from funds $ 96 million and damage more than $ 224 million from 2000 to 2006 to bribe officials for Hyundai facilitate urban expansion in southern of Seoul. This incident influenced a lot to the company, especially in long-term strategy, reputation and revenue. The global automotive markets which expanded rapidly over the past five years from 2002 to 2007 had sharply declines from the fall of 2008 in consequence of the financial crisis. Under extremely severe conditions, automakers run a race for survival in the global market. To respond to the crisis, HMC and other automotive manufacturers must solve liquidity problems urgently and reduction in production cost. And they also have implemented creative marketing strategies to entice reluctant consumers. The global financial downturn in 2008-9 affected European and Asian automotive manufacturers. The automotive industry was weakened by a substantial increase in the prices of automotive fuels linked to the 2003-2008 energy crisis which discouraged purchases of sport utility vehicles (SUVs) and pickup trucks which have low fuel economy. With fewer fuel-efficient models to offer to consumers, sales began to slide. By 2008, the situation had turned critical as the credit crunch placed pressure on the prices of raw materials. The result of the 2008-9 international financial crisis impact almost economic sectors and left a number of banks and other financial institution in severe difficulties, forcing some to collapse. As a result, inter-bank, corporate and personal lending was drastically reduces, share price fell, and all the companies found themselves in financial difficulty. The world economic downturn led to falling sale and profit, exchange rate and share prices and a shortage of credit finance for business and consumers, unemployment and social hardship. As a result, automotive industry is one of the first industries to suffer from the 2008-9 world recession. Clearly, consumers incomes were falling, business were cutting down on their purchases, credit was in short supply, thus consumers exercised caution and either bought a used car instead a new one. It is not therefore surprising that there was a significant fall in the demand for new cars. In some country, Government responded to the situation by offering financial incentives to persuade consumers to buy new cars. So HMC focused on making effort to make economizing fuel vehicles with minimize cost to respect customers need and have implemented creative marketing strategies to entice reluctant consumers as most experienced double-digit percentage declines in sales. Although the worlds automotive market remains sluggish, and some of the worlds largest carmakers have been sorely tested on how to survive, HMC has weathered the global crisis relatively well. In the midst of the global crisis, Hyundai planned a standalone strategy, because their product line up is not expected to synergistic effects through MA. Despite difficult market conditions, in 2010, HMC succeeded in increasing its sales and strengthening its internal capacity. Strategy over the past few years HMC developed five mid-and long-term strategies: global management, higher brand values, business innovation, environmental management, and strengthening product competitiveness. Especially, HMC selected environmental management as to meet the needs of markets and to fulfill stakeholder expectations and the society. HMC also intends to promote sustainability development and preservation of the environment. Blue Drive is HMCs low carbon green technology strategy designed to reduce CO2 emissions by boosting fuel efficiency. Blue Drive also stands for HMCs technology development strategy focus on improving fuel efficiency of internal combustion engine-based cars, and with an ultimate goal of developing vehicles with zero CO2 emissions. HMC has focus on three technology areas for improving energy efficiency of the power-train energy efficiency improvement, minimizing energy loss, and creating renewable energy in order to lower CO2 emissions from vehicles. In Europe, HMC succeeded in low CO2 emissions products including the Blue Drive variant of the i30 diesel model, Blue Drive variants, the i10, the i20, the i30, and the Tucson ix blue. In the US, HMC is the most fuel efficient brand with an average combined (passenger vehicle-light truck) fuel efficiency. In the domestic market, a great number of vehicle models including the Click(Getz), the Verna(Accent), the i30, the Avante (Elantra), t he Tucson(Diesel model), and the Santa Fe(diesel model) earned a first class energy efficiency. HMC has expanded its vehicle lineup by including more luxury sedans and eco-friendly cars in order to keep up its strong performance in the U.S. market. HMC sold more than 500,000 vehicles in the USA in 2010 and it is the highest number of cars it has ever sold in a single year since tapping into the U.S. market in 1986. HMC have been aggressively pushing into China as the country has become the worlds largest automobile market. As its first achievement, HMC launched the worlds first LPG-Hybrid vehicles, the Elantra LPi Hybrid, which is developed using proprietary technologies in 2009 and released the Sonata Hybrid in the North American market in 2010 and in the domestic market in 2011. HMCs high product quality innovation was proven in engine technology-the heart of an automobile. Its technical capabilities and the development of high fuel efficiency-related technologies become a true global environmental leader. Under the philosophy of putting quality first, over 5% of its revenues are invested into RD to secure world-leading quality, marketability and technology. HMC has already taken environmentally-friendly investments and research that have resulted in a range of innovative breakthroughs from fuel-saving technology to new materials and responsible treatment of end-of-life vehicles. By adding blast furnaces to its operations, HMC was able to complete what it calls resource circulating business structure that goes from molten iron to automobiles, and from scrap back to unprocessed steel. Since its first concept model Blue Will in 2009 with light-weight bodies made of carbon-fiber, a panoramic sunroof with solar cells minimizing power loss, HMC will launch plug-in hybrid (PHEV) and electric vehicle (NEV) are optimized for in-city use, especially well-fitted for commutes and short trips. Innovative vehicles that pioneer changed in the auto industry through continuous investment in RD and advanced dealer network programs and highly recognized for its sharp sales increase, first-rate dealership programs, and growth in brand awareness. HMC beat other candidates including Ford, Jaguar, and Landrover to be selected as the winner of the coveted title. Vision, Mission, Goals Hyundai Motor Company has grown rapidly to become one of the largest automobile companies with global top five production capability and superior quality, reaching a tipping point the qualitative approach, bringing bigger ideas and relevant solutions to its customers. At this opportunity to move ahead, HMC have developed a new brand slogan that encapsulates the willingness to take the next big step up. Led by new slogan and the thinking behind, HMC will become a company that keep challenging ourselves to open up new possibilities for people and the planet. HMC established a long-term vision of Innovation Humanity and selected five core strategies directions including a global orientation, respect for human values, customer satisfaction, technology innovation and cultural creation. HMC desires to create an automobile culture of putting customer first via developing human-centered and environment-friendly technological innovation. HMC vision is to secure world-best innovations and raise its profile as a premium automaker. Its quest also includes making this world a better place for all by popularizing next generation eco-friendly technologies and creating a new auto-culture through people-centered technologies that move customers hearts. HMC goal is to become a respected global company that contributed the creation of an automobile consumer culture that respects customers need and innovation in environmental technology that minimize the environmental impact of automobile. HMCs success, watched closely worldwide, is a result of continuous and aggressive innovations that have been implemented on behalf of our customers. HMC considers its most important mission to bring the enjoyment of elegance and confidence to its customers, rather than just selling products. Hyundai strives to bring its customers luxury and style. Therefore, Hyundai will continue to stabilize its global management by establishing an effective cooperation system among production bases around the world. HMCs management goal is customer-oriented management and continuous execution of global management. Motivation employees HMC has human resource management policy with fairness and reasonableness as the guiding principle, ensuring protection of human right and maximizing employees satisfaction at the work place. HMC does not discriminate against its employees or job applicant on the basis of race, age, religion, sea, nationality, physical characteristic or any other facture for all personal decisions including recruitment, placement, evaluation, compensation, training, rank or promotion. HMC respect the Universal Declaration of Human Rights and fully comply with related laws and international labor practice norm including the UN Global Compact principles and ILO guidelines. HMC provide fair compensation for all work at our business sites according to the work guidelines, compensation policy and relevant laws. Also, HMC have created an ethics charter that calls for respect of the right of all workers. HMC focus in increasing health service for workers in the older age group, implementation of policies to recruit and support female employees and provision of more employment opportunity to non-Korean nationals and people with disability improve working conditions for female workers, HMC offer benefits including monthly days off and 90 day maternity leave. Some operation sites offer childcare centers for working mother as well. HMC ensures employees safety pre-assessment, accident prevention activities, increased investment in safety-related facilities and safety training. Therefore, HMC pursue a long-term relationship that is mutually beneficial to both employees and management. Desirability as an employee I would like to work for HMC because HMC is a leading global automaker with competitive edge in product quality, innovation, appealing to the ever-growing emerging markets, as well as the rapidly changing global market. Moreover, it contributes to society, as part of our global corporate responsibility, as well as to secure leadership for future growth through environmental management, forging the way for green growth and the development of world-class eco-friendly vehicles. Actually HMC is an ideal work place, safe and healthy working environment because of its human resource management policy with fairness and reasonableness to ensure human right protection and maximizing employees satisfaction. HMC regards employees as important assets for corporate growth so it has established the HMC ethics charter, the employee code of conduct, and the Guideline on Ethical Business Practices to help employees make the correct decision in the business conduct. It endeavors to provide all employe es with environment training program. HMC is stepping up efforts to ensure fairness in HR decisions, to introduce a rational compensation system, to collaborate with the UN Global Compact for human rights protection, talent development, welfare improvement, and health and safety enhancement. References: Main sources: Hyundai Motor Company. Available from [Accessed 4th March 2011] The road to Sustainability-Hyundai. Available from [Accessed 8th March 2011] The road to sustainability Hyundai. Available from [Accessed 8th March 2011] Global Crisis Enables Hyundai to Grow Bigger, 04-21-2010Â  19:37, Available from [Accessed 9th March 2011] Hyundai Motor joins top 3, in Fortune Korea 500; 10-24-2010Â  18:54. Available from [Accessed 9th March 2011] PART 2: Critically discuss the contention that Leaders are born not made Leadership is the process of influencing people towards achievement of organization goals (Naylor J. (2004) 2nd ed. Management, Harlow. Prentice-Hall) Are Leaders born not made? The answer is both. In todays world, many believe that it is possible to send employees to a series of leadership training classes and make them a leader. In fact, they may promote into a position of leadership, but they lack any of the qualities of a true leader. In short, leaders have something within that the others dont have. It is an intangible characteristic that cant be explained but can be recognized. This is due to certain in-born talent that can never be cultivated via training (e.g. charismatic, verbal approach to persuasion, ability to influence through persuasion). Most of these qualities essential to being a leader can be linked directly to ingrown personality traits, the ability to have a vision and intuition, the natural intelligence factor, the enjoyment of obsessing with self improvement, mastering the natural talents they were born with. These are all aspects of personality and are extremely difficult to learn. It is true that people can be trained through leadership programs; however these trained people will be often pale in comparison with those who have in-born characteristics. Perhaps it varies from person to person. It is really not easy to determine what part of leader abilities is acquired and what part is inborn or natural. Not every leader is born and not every person can be groomed to be a leader. It is not just the amount of training an individual receives that creates a leader; rather it is the in-born abilities an individual possesses and the willingness to learn (e.g. ability to adapt). The training just accelerates the development of the natural talents. True, those born with leadership abilities have distinct traits that separate those from the rest, sometimes even from childhood, but others who are keen enough and intelligent enough can be trained to become good leaders. What if Im not a born leader? Not being born with the skills to lead doesnt mean you dont have chance to become a leader. There are plenty of positions that require leadership skills that also allow to being underdeveloped. Those with ingrained leadership qualities dont get to rest on their talents. Like any skill, if you continually work on improvement and the pursuit of perfection, you will soon find yourself goal. You can only harness your potential by continually striving to improve. With the appropriate demonstrated levels of willingness and ability, a person with potential can be molded into a leader through training. Those continue to learn and develop whatever skills they possess; training or practice will give the character, vision or presence to be a great leader. But the environment will determine whether potential leaders can develop their talents. All of us are born with one trait in common potential. There is much potential of course, but the key in dealing with potenti al is the stimulus and environment that brings it out. So it is seen that leadership characteristics are most likely inherent and can be developed in the right environment. References: Leaders Are Born Not Made. Available from [Accessed 4th Feb 2011] Leaders Are Born Not Made. Available from [Accessed 4th Feb 2011] Leadership. Available from . [Accessed 4th Feb 2011] Leaders Are Born Not Made. Available from [Accessed 4th Feb 2011] PART 3: Critically discuss the following statement: The best way to ensure constant innovation is to hire young, newly-graduated candidates with an interest in innovation and set them up in a think-tank, separate from the main organization so they can develop new ideas unimpeded by the existing business. If you were an employer, what kind of people would you want to hire? Well, the perfect candidate that meet every aspect of the job description of course. Employers know, People who have years of experience may either require a salary too high, may not have knowledge of the newest technologies whereas recent graduates dont have important years of experience, professional knowledge, or highly developed skills but employers realize that if they hire the most qualified and suitable talent from outstanding universities and continue to educate and mold recent college graduates to fits their needs, they will provide enough quality clay to work with to create that perfect mold. Knowledge is the prerequisite for innovation and new technology distributes knowledge. Todays young employees have grown up with the latest technology and they often have a quicker grasp of the newest technical knowledge than older candidates. Many people have a bias that young people are better at innovation, coming out of school fully prepared, multi-skilled, capable of creative thought, much new ideas. The harsh reality is that in the technology world, companies prefer to hire young, inexperienced engineers because hiring fresh graduate with no skills takes less money and they will rapidly learn the latest coding methods and techniques. Â  As well, the older candidates likely have family and need to leave by 6 pm, whereas the young can pull all-nighters. In addition, companies nowadays are increasingly working on an international level in financial jobs and careers in telecommunications, so newly-graduated that study abroad will often have a desired global perspective. Their multi-cultural learning and experience, being bilingual is valued in many fields, especially in existing business innovation. However, the statement that the best way to ensure constant innovation is to hire young, newly-graduated candidates with an interest in innovation so they can develop new ideas unimpeded by the existing business is not really true in individual case. Almost leaders and managers often respect and listen to elders ideas in the company because they know well about organization structure, business strategy, mission, related stakeholders as customers, partners and they can take full advantage of their experience, knowledge by contributing practical ideas to constant innovation in products, processe

Ballet :: essays research papers

?Audience: Parents who want to enroll their children in a ballet class for the first time.   Ã‚  Ã‚  Ã‚  Ã‚  As a child I was very active in ballet. When I first asked my parents to let me enroll in a ballet class, they were skeptical. They weren’t too sure of what a ballet class consisted of or what kind of exercise I would have to undergo. My parents researched in books and magazines, but they didn’t understand the ballet terminology. When they went to speak to a ballet instructor, they got a better understanding of what I would be doing in class. Now that I am older and have started to teach my own ballet class, I want my students’ parents to understand what the class consists of. I have written an easy-to-understand overview of a ballet class.   Ã‚  Ã‚  Ã‚  Ã‚  Technique levels in ballet fall into three categories: beginner, intermediate, and advanced. Students advance through the different levels according to their skill level. This is much like football. A football player begins playing in junior high, then moves up the high school level, and then the collegiate level.   Ã‚  Ã‚  Ã‚  Ã‚  Next, we move onto the barre, a rigid piece of wood or metal longer than it is wide. A barre is used to help give support; it may also be used as a handle. The barre is a well-designed step-by-step process which brings out the best in dancers muscular and mental receptivity. We will begin working with the feet, then the legs, hips, upper back, and torso. The barre helps the student concentrate on one leg at a time. It also helps the students gain confidence to help them balance on one leg at a time.   Ã‚  Ã‚  Ã‚  Ã‚  There are various exercises that can be performed on the barre (e.g., warming up the calf muscles or warming down after class). The tendu exercise helps to warm up the achilles tendon and calf muscles. The French word tendu means to slide the foot without lifting the toe from the ground while keeping both knees straight.

How to cheat on your spouse :: essays research papers

How To Cheat On Your Spouse "Oh the weather outside is frightful, but your thighs are so delightful. She has no place to go, let her blow, let her blow, let her blow." I caught a bit of the holiday spirit on the way to the mall and began humming the Christmas song while driving down the highway. Somewhere along the way I changed the words a bit and laughed. Don't I wish! I mean, my secretary was a cutie, and yes, she would have made an excellent partner in the sack. But there was a little problem: I was married with three children, and the little woman at home frowned upon marital transgressions. I know that for a fact, because it wasn't all that long ago that she caught me in the act. That was not a pretty scene. After some time and counseling, we mended fences, but I got the ultimatum: even flirting with another woman was cause for her to give me the pink slip, kissing her, my kids, our house and most of our bank account, goodbye. I took those words to heart, and have been a model husband for more than half a decade. Then there are guys like Artie, a manager in the Accounting Department at the company where I'm employed. On the outside he's a pleasant enough guy in his early 30s with a wife and two lovely children. Behind the scenes, though, he's a wolf. A certifiable louse. He's strayed more times than a barnyard cat, and somehow has never been caught. I thought of this while driving to the mall, and given my past history, decided to ask him how he does it. I didn't think he would answer, but it wouldn't hurt to ask. So I did. Much to my surprise, Artie was agreeable, and over a few beers at our local Irish pub, we spoke about the ins and outs, so to speak, of cheating on one's spouse. What follows are his frank answers to my probing questions. Q: We've talked in the past about some of your, well, dalliances, and I wondered if you could answer a few questions, anonymously, of course. A: Ask away! Q: Do you love your wife? A: Of course. She's a darling, the mother of my children, and a great friend too. Q: Then why...? A: (Interrupting) Why do I, uh, stray?

Effects of Technology Essay

The advent and development of computer technology through the past three decades may be the most important and revolutionary technology ever invented in history. It has completely changed the way people do things, from interpersonal communication to professional transactions. Computers have affected the cultures of families, friends, offices, academes and even states and countries. The effect of computer technology can be felt starting with the most basic social institution, the family. The personal computer has become a regular fixture in millions of homes around the world as much as the television or the couch. Some families even own more than one computer units. Of course, the statistics would be lower among less developed countries. Nevertheless, an effect of the prevalence of the personal computer is that it has become more and more affordable. For third world countries, the idea of catching up has also come to mean being competitive when it comes to computer literacy compared to developed countries. Parents use the computer to surf the Net, look for job-related information or anything that interests them like news or hobby sites. The children use the computer as aid in making assignments and research, playing video games or make friends they won’t ever see in person through the chat rooms. Outside the home, the influence of computers is felt much more. Offices cannot survive without computers as they are used for word processing, calculations, presentations, and other tasks. Internet technology, an offshoot of computers, has created a thriving electronic-based commerce which has made millionaires out of people whose capital has been their mere creative minds. Other activities that before were done without computers are now computer aided. Automated banking has made banking and bill payments possible even outside office hours. People can shop online using their credit cards without the hassle of crowds and miles of walking inside malls just to find the perfect shirt or gift. Government agencies keep voluminous records and provide computer-aided services making it possible to make transactions with the public even without the latter’s physical appearance. Like all technologies, the computer has its downsides, too. For instance, it has caused concern regarding the privacy of people as with the interconnectedness of networks in cyberspace it has become easy to look for information about anybody. Another is that computers, being machines, break down. Since people have grown dependent to this machine, a crash or malfunction of computers especially those doing tasks which a lot of people depend on (like ATMs when they go offline or very important data that suddenly become irretrievable with a crash) could result to a lot of frustration and anxiety. Computer technology has also created computer addicts and affected the health and social skills of some people who would rather sit in front of a monitor than interact with humans or play ball outside. Computer technology has become so prevalent and people and nations have become dependent to it so much so that in modern times it has become unimaginable to survive without computers. The future is going to be defined by how fast and how far computer technology is going to take humankind and to be computer-illiterate in this modern world is to be left behind in the past.

The Life and Accomplishment of Madam Curie: Her Contribution to Science

Marie â€Å"Madame† Sklodowska, also known as Madam Curie, was a French chemist, born November 7, 1987 in Poland. Her early years were know to be sorrowful, losing her mother and a sister, Marie was an early pioneer in the field of radiology, as well as winning two Nobel prizes and founding the Curie Institutes in Paris and Warsaw, she was noted for her diligent work ethic, she turned down food and sleep in order to study. (www. spaceandmotion. com/physics-marie-curie-biography. htm) As a child Marie learned to read at four years old, people were amazed with her memory at such a young age. Her father, was a scientist who kept his instruments in a glass case, these instruments intrigued young Marie. Marie, at an early age wanted to become a scientist, but her dream would be difficult to accomplish due to her family being poor. At the age of eighteen, in order for her surviving sister study in Paris, Marie became a governess to help with the financials. In return for helping her elder sister, Bronya financially, Bronya agreed to repay Marie by contributing to the cost of her studies after obtaining her own degree. (inventors. about. om/library/inventors/blMarieCurie. htm) At the age of twenty-four, and with the urging of her sister, Marie moved to Paris to study chemistry and physics at the Sorbonne. With her impressive work in physics Marie managed to win a scholarship, also because of her work she was paid by the Society of Encouragement of National Industry to investigate the magnetic properties of different steels. It was this that led Marie Sklodowska to Pierre Curi e, for her work with metals she needed a lab and Pierre agreed to let Marie use his lab for her work. Pierre had made important discoveries on magnetism and crystals, and with the encouragement of Marie he wrote up his findings and got a Running Head: Life and Accomplishments of Madam Curie doctorate degree which promoted him to a professor. (http://www. spaceandmotion. com/physics-marie-curie-biography. htm) In July of 1895 Marie and Pierre married, Marie completed her research on the magnetic properties of steels two years later. In September of 1897 shortly before giving birth to her daughter Marie submitted her final results on her study. It was after the birth of her daughter Irene; Marie began looking for research that would earn her a doctorate degree, something no other women in the world had completed. It was then that Pierre and Marie together studied radioactive materials, mostly uranium ore pitchblende. This ore strangely was more radioactive than uranium that was extracted from it; by 1898 the two had deduced a logical explanation. This explanation was that the pitchblende contained traces of some unknown component that was radioactive. It was on December 26th 1898 that Marie announced the existence of the new substance; she stated â€Å"I then made the hypothesis that the ores uranium and thorium contain in small quantity a substance much more strongly radioactive than either uranium or thorium. This substance could not be one of the known elements because these had already been examined: it must therefore, be a new element. † (Marie Curie, from Pierre Curie pp. 96-98) (www. spaceandmotion. com/physics-marie-curie-biography. tm) Several years passed and Marie and Pierre never stopped their labor, they refined several tons of pitchblende, concentrating the radioactive components, initially isolating the chloride salts and two new elements. They named one of the new elements after Poland, Marie’s native land and the other was named uranium after its radioactivity. With their breakthrough discovery, other scientists did not believe them due to the amount of polonium and radium was so little that it could not see seen or weighed, only their radioactivity made them known. It was then the Running Head: Life and Accomplishments of Madam Curie Curie’s knew they had t separate their elements from their substances they were mixed with, For this they had to continue there work in an abandoned shed near the school. (www. spaceandmotion. com/physics-marie-curie-biography. htm) Soon after their move to the shed Industrial Industries helped the Curies by providing additional lab space, raw materials and support staff, thus grew a thriving industry. Radium was used by other scientists for experiments on atoms. This confirmed what Marie had suspected, that the powerful energy showed in radioactivity was a fundamental property of every atom. In 1903 Marie, Pierre Curie and Henri Becquerel were all awarded the Nobel Prize in physics, â€Å"in recognition of the extraordinary services they have rendered by their joint researches on the radiation phenomena discovered by Professor Henri Becquerel† (www. spaceandmotion. com/physics-marie-curie-biography. htm) After working in the lab one morning in 1906 Pierre Curie was walking to a library when he slipped and fell into the path of an oncoming heavy horse-drawn wagon. The wagon ran over his head, instantly killing him. After his death Marie was offered his position as professor, no woman before had help such position, and she accepted. In Pierre’s memory Marie decided to establish a scientific institution worthy of such honor, it was with the help of her staff that they persuaded the French government to and privet Pasture Foundation to fund Radium Institute. (www. spaceandmotion. com/physics-marie-curie-biography. htm) In 1911 Marie was awarded her second Nobel prize in Chemistry. †in recognition of her services to the advancement of chemistry by the discovery of the elements radium m and polonium by the isolation of radiation and the study of the nature and compounds of the Running Head: Life and Accomplishments of Madam Curie emarkable element† Not only was Marie the first female professor of Sorbonne she was also the first woman to receive two Nobel prizes. Some scientists disagreed with Marie winning the prize again, stating that the discovery of the elements were part of the first prize in 1903. Thus saying she had won two prizes for the same discovery, and it was more out of sympathy than anything. This was ignored; most chemists considered that the discovery and isolation of radium was the greatest event in chemistry since the discovery of oxygen. (nobelprize. rg/nobel_prizes/physics/articles/curie/) During the first a World War, most of Marie’s staff had enlisted, so scientific research was forced to halt, so Marie looked for ways she could help with science. She then publishes new uses for mobile radiography units; they would be used for the treatment of wounded soldiers. These mobile units were powered using tubes of radium emanation. This colorless radioactive gas would later be identified as radon. Marie personally milked the radium and filled the tubes. (www. spaceandmotion. com/physics-marie-curie-biography. htm) Marie trained women in simple x-ray technology, and was a driver for one of the vans that located metal splinters. And sometimes found herself giving lessons to doctors in geometry. After the war most of her time was spent raising money for the Radium Institute. (nobelprize. org/nobel_prizes/physics/articles/curie/) Marie Curie died July 4th 1934 from aplastic pernicious anemia, which is a disorder in which the bone marrow greatly decreases or stops production of blood cells. It’s believed it is almost certainly due to her massive exposure to radiation throughout her work. Her daughter. Running Head: Life and Accomplishments of Madam Curie Irene won a Nobel Prize in Chemistry in 1935, a year after her mother’s death. Marie’s younger daughter, Eve wrote her biography after her death. (www. spaceandmotion. com/physics-marie-curie-biography. htm) Marie â€Å"Madame† Curie was essential to the discovery of radium and polonium. If it was not for her and her husband Pierre Curie, radiology would not be what it is today. Without her studies who knows how long it would have taken for another scientist to discover the two elements. It is thanks to Marie Curie that we are as far advanced in radiology that we are. References nobelprize.org/nobel_prizes/physics/articles/curie/ www.spaceandmotion.com/physics-marie-curie-biography.htm inventors.about.com/library/inventors/blMarieCurie.htm