Eli Lilly: Developing Cymbalta

Eli Lilly and company is a pharmaceutical company that was established in 1876 by Colonel Eli Lilly, who had served in the union army during the Civil War. One of the products the company developed includes the antidepressant drug Prozac, which has been a legendary product for the company and has generated billions of dollars since its launch. As Prozac’s patent expiration date approached, thereby allowing the sale of generic versions in the U. S. , the company decided to pursue a product to replace Prozac, named Cymbalta. John Kaiser, the marketing director at Eli Lilly and member of a cross-functional R&D team, new anti-depressant team (NAT), has been tasked to lead this effort. Kaiser prepared a presentation about the potential successor, Cymbalta, and convened a meeting with the NAT members to discuss its future potential. The goal of the meeting was to thoroughly analyze and discuss the pros and cons about Cymbalta’s development and strategic opportunities based on the different options of use. This paper will identify the strategic issues and problems the NAT faced in developing the new product. The paper will then analyze and evaluate the industry and market behavior by using a SWOT analysis. Finally, this paper will offer a set of recommendations based on the surrounding circumstances and options available to the Eli Lilly team. Identification of the strategic issues and problems: Eli Lilly and company’s NAT members began the process of searching for a successful replacement to Prozac by looking into the strategic choices, possibilities, and successful launch of a replacement shortly after the expiration of Prozac’s patent. Cymbalta was considered as a viable successor to Prozac because it seemed a) to be as good as or better than existing antidepressants, b) to show no signs of safety precautions or toxicity issues, c) to meet previous unmet patient needs, and d) to show promising signs of development as a product to also treat pain, especially if it did not cause special side effects. However, when Lilly developed Cymbalta back in the early 1990’s, for the major depressive disorder (MDD) market, the product failed to show satisfactory levels of efficacy for treating MDD in phase 2 trials in 1993. Additionally, Lilly had so little experience in the therapeutic area. Moreover, there were variances in the opinions of Neurologists and Psychiatrists related to the symptoms of pain, such as chronic back pain or recurring headache tied to depression. Those variances could peril the decision making process from the top management. Also, since there were no clear guidelines from the Food and Drug Administration (FDA), for the development of pain indications associated to depression, the likelihood of FDA approval was very slim. Kaiser and the team also encountered several constraints. The team had to decide how to prioritize the clinical trials for Cymbalta within the range of $25 to $50 million and a time frame of 15 to 18 months to design, enroll patients for trial, and then analyze and document results for the clinical trial. Each study was a major task for the NAT members and the team had the opportunity to submit only one objective to the FDA for marketing approval. On the other hand, since Cymbalta had been tested with twice daily dosages of 20 mg, 30 mg, and 40 mg, NAT members also looked into the option of conducting a new set of clinical trials to establish once-a-day dosage of 60 mg of Cymbalta to treat Major Depressive Disorder (MDD). The new option would provide more expedient dosing for patients and would also put the product on par with the major competitors. Analysis and Evaluation: The U. S. pharmaceutical industry is complex and dynamic. It’s an industry that is characterized by high-tech research and development (R&D) expenditures and extensive regulation of its products, especially in comparison with other manufacturing sectors. The U. S. Food and Drug Administration (FDA) oversee policies that produce faster review and approval times for drugs. The agency carefully evaluates the safety of any new drug and its efficacy. Such policies result in extended periods during which companies can exclusively market their pharmaceutical products. Longer periods of market exclusivity for pharmaceuticals then increase sales revenues, and increased sales revenues in turn lead to greater profits and potentially more funding for R&D. Treatment of depression is one area that the U. S. pharmaceutical industry has heavily invested in. The total sales of U. S. antidepressants reached close to $9 billion in the year 2000. Companies such as Eli Lilly capitalized on this opportunity and became a leading force in the antidepressant market with its Prozac drug. Antidepressant product development companies invest heavily in Research and Development (R&D), and patent it. With each successful launch of a product, they enjoy its patent rights for quite a long period of time and enjoy the exclusive rights to produce and sell that product resulting in enormous profits for the company. Thus, drug companies continuously attempt to differentiate their product from competitors and bundle in such a way that is more tailored to segment of the market where they can realize higher profits. SWOT Analysis: Strengths: †¢Potential successor to a highly successful brand – Prozac from a well-established company in the pharmaceutical industry. Part of the selective serotonin reuptake inhibitors (SSRI) group of drugs, which is popular and had fewer side effects than tricyclic anti-depressant (TCA) and monoamine oxidase inhibitors (MAOI). †¢Potential to treat both depression and chronic pain, such as headache and backache caused by depression. Weaknesses: †¢Product that is not different from competitors' brands. †¢Twice-a-day dosing regimen of 20-40 mg. Threats: †¢Serious market competition from competitors' brands such as Paxils and Zoloft with same efficacy. No clear concession amongst physicians as to the nature of link between depression and pain. †¢Attempting to compare Cymbalta to existing SSRI on pain might fail to conclusively separate from competitors, thus giving rival drugs an implicit endorsement for treating pain. Opportunities: †¢Potential development of 60 mg once-a-day dosage with high efficacy. †¢The possibility of pursuing patients with fibromyalgia (severe muscle pain and chronic fatigue) and Diabetic peripheral neuropathic pain or DPNP (a painful and debilitating complication of diabetes). According to the National Studies of Health, over 40 million Americans were unable to find relief from their pain, including patients with fibromyalgia and DPNP. Pros and Cons of Plausible Alternatives: If developed successfully, Cymbalta could be a unique product that has the ability to significantly reduce and improve depression and pain. Patients with fibromyalgia and DPNP could greatly benefit from Cymbalta. The pain relief may also be great for patients who suffer from depression and chronic pain like headache and backache. The NAT’s idea of pursuing the 60 mg daily dosage is also attractive if it delivers the same efficacy of current antidepressant drugs in the market. However, all of this comes with its perils. The company has to evaluate the risks and any potential side effects that the 60 mg per day dosage may have on patients. They also have to assess the feasibility of conducting a clinical trial with a 15 to 18 months’ timeframe and a projected cost of $25 to $50 million. Additionally, they would have to convince the FDA that the new product is ready to market. Failure of any of the aforementioned obstacles could result in loss of the antidepressant market to competitors. Recommendations: Depression and chronic pain diseases, such as fibromyalgia and DPNP, have a profound effect in society at large. Studies in scientific publications have estimated that depression affects 10% to 25% of the population. The antidepressant market in the U. S. in 2000 totaled sales of approximately $9 billion. Eli Lilly has positioned itself well in this market segment. The company has enjoyed a market lead with annual sales of over $2 billion with its antidepressant drug, Prozac. Cymbalta needs to focus on maintaining and increasing that $2 billion dollar revenue Prozac has achieved over the past years, by building on the successful foundations Prozac has already established. It is important to develop an updated product that will undoubtedly outperform its competitors. Cymbalta might be a successful replacement because of its good efficacy or efficacy better than existing antidepressants, Cymbalta also has no apparent safety or toxicity issues, and its possibilities of meeting a previously unmet patient needs, exemplifies why Cymbalta has the potential to total higher record sales than even Prozac.

My role in globalized society Essay

Globalization is defined as the process of integration of philosophies, beliefs and other properties between different cultures (Albrow and King 1990, Giddens 1991). In modern society globalization plays an important role, whether it be on social, economic or cultural levels (Held et al. 1999). One of the key contributors to globalization is the mass media, in recent times this has occurred through cultural integration and the flow of information between different countries through mediums such as television, newspapers, film, music and newer technologies (Curran and Park 2000, Tomlinson 1999). With the development of new technologies, international cultural exchange will become easier, as has already been seen with Internet platforms such as Facebook and Twitter. Significant theories in media and communications have arisen through globalization these include modernity, developmental theories such as the network society and cultural imperialism (Held et al. 1999, Herman and McChesney 2004). This essay will be exploring these theories and concepts in international communications and globalization to better understand media and the media industries in the twenty-first century. It will also critically engage these theories with my personal views and understanding as a media and communications student as well as a global citizen. Early communication theories were based around modernization and development. Daniel Lerner’s early works on modernization focused on the dispersion of Western culture, technological improvements and innovation (Albrow and King 1990, Lerner 1958). In the 1960’s Wilbur Schramm furthered modernization theory, he explained that communication could be used to benefit developing nations both politically and economically (Curran and Park 2000, Schramm 1964). Since earlier modernization and developmental theories, the focus has been switched away from Western influences and diffusion, rather gaining a more neutral interpretation. Anthony Gid den’s attempts to discredit the original ‘media dependency theory’ by differentiating traditional and modern societies, explaining that although influences have played a role in globalization, over time people have ‘stretch[ed] further and further across space and time using mass media and interactive media (Giddens 1991).’ Historically Western influence has played a large role in everyday society, from politics to economics, in media this is seen through television, film and news. One of the major influences over  the past few decades is Hollywood and it’s byproducts (Miller 2001, Mingant 2012). Traditional Hollywood films, although focused for an American only target, were broadcasted throughout the world, where it was well received. These films consisted of American values and cultures, additionally the ‘cast and spectacular quality’ are the reasons behind strong popularity around the world for these Hollywood films (Mingant 2012). As a global citizen it is easy to recognize this influence since the local film industry isn’t as large and the majority of the ‘popular’ films are from Hollywood. But this trend is on the decline as we are seeing more and more international films from India and France as well as Eastern and European influences in Hollywood films. This has lead to an increasing significance of other ‘foreign markets in [this] globalized world’ which has to change is the global market (Miller 2001, Mingant 2012). Similar to modernization and developmental theories, cultural imperialism theories were based on US influence and impact on developing countries. Herbert Schiller, one of the main contributors to cultural imperialism in 1969, explained that the US gaining imperialistic control of developing countries through the media (Schiller 1969, Sparks 2007). This view was influential and opened the door for others to critique and further cultural imperialism theories. Oliver Boyd-Barred advanced cultural imperialism theory by suggesting that it was more than just ‘gaining control’ and more so a matter of inequality between different nations and this lead to ‘political and economic dependency’ (Boyd-Barrett 1977). Through local news media we can see the inequality of news reporting. The news is often Western dominated and shows hints of modern imperialism, whereas when developing countries are show in the news it is mainly related to corruption or tragedy. Over time this has lead to a bias image of these countries, which places the viewer with an inadequate understanding of the issue. Additionally, the developing nations are unable to produce their own mass media, and if they are they copy the formats of the Western world. As a global citizen it is easy to see the inequality between different nations and with such a large influence from countries like the US and UK, we are beginning to see the same stories covered over and over again. A perfect example is when an even occurs US, for example the shooting of a black teenager; this news is spread throughout the world even though there is very little interest from other countries (Reuters 2014). Where as when killing occurs in other parts of the world, for example recently in Gaza when thousands had died, it was barely covered in Western media (AAP 2014). This shows a heavy political influence on the media. Nonetheless, although not predominant in the Western world, I believe Al-Jazeera is becoming a news platform for developing and Eastern countries. These are ‘real worldwide’ news stories, which have an equal balance of news stories from all over the world. Additionally, these news stories are more informative and let the audience make their own view on the topic at hand. In this modern age we are going through a technological revolution, new media platforms are being produced every day and content creation is easier then ever. Social media is slowly taking over as the predominant medium and sites such as Facebook and Twitter are booming through more and more people joining as well as advertisement revenue. Through this boom we are seeing increased globalizati on across these platforms. Many worldwide issues are discussed on social media platforms such as Facebook and Twitter, from the FIFA World Cup, to the recent events in Ferguson, USA (Frier 2014, Reuters 2014). It is also important recognize that when going though these stories on social media, everyone is given an opportunity to present their own view. Outside of these social media platforms, users are able to access more worldwide news as well as create their own content. As a global citizen, I often see myself researching topics in much more detail to gain a better understanding of news and issues. I feel this is the best way to gain an accurate view. I have a Facebook, Twitter and Instagram and through these media platforms I see many issues being discussed. Social media and the Internet will slowly take over as the dominant form of information flow. Globalisation can be seen to have many benefits as well has having a negative side. Traditionally globalization meant influencing other global nations with respect to media, politics and economics. This was a global view during early media theory works. Only through the 1970’s did the globalization theories become questioned with claims of inequality and bias (Boyd-Barrett 1977, Schiller 1969). From these findings through to modern media we are seeing a slight move away from Western dominance of media. The concentration of media agencies is owned by a few people and although the US is no longer considered culturally imperialistic; the global media system is still yet to hit the developing nations. As a global citizen, the media is  complex system and without looking further into issues of media we are given a one sided story with bias.

Gender Discrimination Essay

An unfair or unequal treatment which is directed at a person based on his or her sex or gender is defined as gender discrimination. Most typically it resulted from the stereotypical association of certain character traits with women as well as men, the identification of feminine character traits as less desirable and the disadvantage s that result. 3 Most often the victims of gender discrimination are women, however, in principle it can also be directed to men. Discrimination can either be direct or indirect, deliberate or accidental. There are two kinds of gender discrimination which includes: 1) Disparate treatment is a direct treatment wherein an employee for instance is treated differently because of his or her gender; and 2) Disparate Impact on the other hand, is complex which happens when a company policy for instance, excludes certain people from the jobs or promotions. Although company policy is not designed to exclude these result becomes unfair. 4 This research aims to answer the question of what is gender discrimination, the disadvantage that women faced due to gender discrimination, gender discrimination not only in women but also in men and its occurrences in different settings, the laws that prohibits gender discrimination as well as statistical evidence of charges based on gender discrimination. Disadvantages faced by Women Most women around the world experienced lower pay for work of equal value, illiteracy rates are high and in addition to that, access to health care are poor. Recent report of the United Nations Development Fund for Women (UNIFEM) have shown that in many of the main indicators that measure progress towards gender equality and women empowerment, women fall short. Worldwide rate of literacy for women is 71. 4 percent, while men on the other hand, is 83. 7 percent. Research showed that out of 960 million illiterate adults, two-thirds of them are women. With women employed in industry and services, gender gap in earning persists earning 78 percent of what men earn in the same sector is typical. The share of women in decision making positions, have reached 30 % in only 28 countries in the 1990s. In addition to that, out of 1. 3 billion people living in poverty, 70 % are women. 1 Gender Discrimination Occur in Different Settings In many different settings gender discrimination can take place which include the following: 1) Employment setting includes claims in which employers asked discriminatory questions based on gender during the process of an interview; that employer failed to hire and promote, or wrongfully terminated an employee on the basis of his or her gender; unequal pay claims; as well as claims for employee’s sexual harassment; 2) Education setting wherein claims for exclusion from educational programs or the opportunities based on gender and claims for sexual harassment of students are included; 3) Housing Setting includes claims for refusal to negotiate with a person who wants to seek housing, claims for imposition of different lease or contract terms as well as claims for refusal to extend a loan on the basis of gender of the applicant, tenant, or buyer; and 4) Borrowing or credit setting wherein it claims that there is a refusal to extend credits, imposition of unequal loan terms and i mproper inquiries during the credit or loan process of approval, based on the gender of the applicant. 3 Laws Prohibiting Gender Discrimination Most laws were originated at the Federal level, through federal legislation such as the Equal Pay Act which guarantees and regulates civil rights including the law relating to gender discrimination. Through federal court decisions such as those which are handed down by the supreme court of the U. S. , civil rights have been defined and interpreted. Usually very similar to those at the federal level, the States have also pass their own civil rights law, even municipalities like cities as well as counties can enact ordinances and laws which are related to civil rights and gender discrimination. 3 Title VII Civil Right Act of 1964 In order to protect individuals against employment discrimination on the basis of sex, race color, nation origin as well as religion the Title VII of the Civil Right Act of 1964 was enacted. This applies to those employers with 15 or more employees, which includes the state as well as the local governments. Moreover it is also applied to employment agencies, labor organizations and the federal government. Civil Right Act of 1964 states that, to discriminate against employee or applicant for employment because of his or her sex with regards to hiring, termination, promotion, compensation, job training, or any other term, condition or privilege of employment is unlawful. Employment decisions based on stereotypes and assumptions about abilities, traits, or the performance of the individuals on the basis of sex are prohibited by the Title VII. In addition to that, intentional discrimination and neutral job policies which disproportionately exclude individuals on the basis of sex and that are not job related is also prohibited. Prohibitions of Title VII against sex-based discrimination also includes: 1) Sexual harassment which includes practices ranging from direct requests for sexual favors to workplace conditions which create a hostile environment for persons of either gender, including harassment with the same sex; and 2) Pregnancy based discrimination (Pregnancy Discrimination Act) which prohibits discrimination on the basis of pregnancy, child birth as well as related medical conditions. 5 Equal Pay Act of 1963 This Act requires that equal pay for equal work must be given to men as well as women in the same establishment. The jobs need not be identical however they must be substantially equal. Compensation discrimination based on sex is also prohibited in Title VII however, not like the Equal Pay Act, the Title VII does not require that the claimant’s job be substantially equal to that person of the opposite sex with higher payment or require the claimant to work in the same establishment. Based also on research, it also states that to retaliate against an individual for opposing employment practices which discriminate on the basis of sex or for filling discrimination charge, testifying, or participating in any way in an investigation, proceeding, or litigation under Title VII is also unlawful. 5 Equal Credit Opportunity Act It prohibits the creditors from discriminating the credit applicants based on race, color, religion, national origin, sex, marital status, age or for the reason that an applicant receives income coming from a public assistance program. 2 Fair Housing Act It prohibits discrimination in sale, rental, as well as financing of housing based on color, race, national origin, sex, religion, familial status, as well as disability. 2 Family and Medical Leave Act This Act gives employees the right to take time off from their work in order to take care of their newborn or recently adopted child, or to look after family member who are ill patients. 2 Title IX of the Education Amendments of 1972 This Education Amendments prohibits gender discrimination in programs of education which receives federal funds, to increase educational as well as athletic opportunities for females in schools and colleges nationwide. 2 U. S. Code Title 42, Chapter 21 Civil Rights This prohibits discrimination against persons on the basis of their age, gender, disability, race, national origin, and religion in a number of settings which include education, employment, access to businesses and buildings, federal services and others. In this chapter one can find a number of federal acts which are related to Civil Rights have been codified which includes the Civil Right Act of 1866, Civil Right Acts of 1964, as well as the Civil Rights of Institutionalized Persons Act. 2 Statistical Evidence of Charges Based on Gender Discrimination Based on Statistics, in Fiscal Year 2006, the EEOC have received 23,247 charges based on gender discrimination. According to study, EEOC have resolved 23,364 gender discrimination charges in FY 2006 and have recovered in monetary benefits for charging parties and other aggrieved individuals $99. 1 million. This does not include monetary benefits obtained through litigation. 5 Conclusion Gender discrimination is the unequal or unfair treatment on a person based on his or her sex or gender resulted from the stereotypical association of certain character traits with women as well as men. Most often the victims of gender discrimination are women, however, in principle it can also be directed to men. There are two kinds of gender discrimination which includes: 1) Disparate treatment is a direct treatment wherein an employee for instance is treated differently because of his or her gender; and 2) Disparate Impact on the other hand, is complex, which happens when a company policy for instance, excludes certain people from the jobs or promotions. Although company policy is not designed to exclude these result becomes unfair. Gender discrimination can take place in different settings such as employment setting, education setting, housing setting as well as borrowing and credit setting. Moreover, in order to protect individuals against discrimination there are laws that should be implemented. Most of these laws originated at the federal level through federal legislation such as Equal Pay Act which regulates and guarantees civil rights including the law relating to gender discrimination. Among the civil rights laws which prohibits gender discrimination are 1) Title VII Civil Right Act of 1964, 2) Equal Pay Act of 1963, 3) Equal Credit Opportunity Act, 4) Fair Housing Act, 5) Family and Medical Leave Act, 6) Title IX of the Education Amendments of 1972, as well as 7) U. S. Code Title 42, Chapter 21 Civil Acts. Works Cited 1â€Å"At the Crossroads of Gender and Racial Discrimination. † http://www. un. org/Wcar/e- kit/gender. htm. 2â€Å"Gender Discrimination: Applicable Laws,† FindLaw for the Public. FindLaw. 2007. 3â€Å"Gender Discrimination Basics. † FindLaw for the Public. FindLaw p. 1-2. 2007. 4â€Å"Gender Discrimination in the Workplace. † Allison and Taylor, Inc. 2007. 5â€Å"Sex-Based Discrimination. † The U. S. Equal Employment Opportunity Commision. Modified 2 July, 2007. retrieved 9 Dec 2007 http://www. eeoc. gov/types/sex. html.

No preference Research Paper Example | Topics and Well Written Essays - 500 words

No preference - Research Paper Example It was used in brewing beer, making soups and stews, and barley bread in various cultures. Ships and vessels transported it across city-states in cases of warfare or trade activities. If someone found my pottery today, I would want the pottery itself to reflect on the revolutionary element of Greek society. The artistic movements of Greek, as a society, should focus on narrating the story of the birth of the first democracy, ancient Athens, through an artistically based kind of life. In the brutal world of the 5th Century BC, there emerged a society of equals in Greek, which was the ultimate reflection of the pottery artistic work if it were to be seen today. The aspects of life in Athens that encouraged cultural contribution of various philosophers, writers and artists include the following factors; firstly, the inbuilt spirits of Greek inhabitants is of an ever formulated trial and era aspect of the society. Secondly, Athens gave rise to various philosophers because of the emergence of educational activities through artistry. For instance, the Greek revolution overly began at the dawn of a simplified democracy in 508 B.C. with the revolution of common people against the aristocratic rule. This shows the complex nature of Greek subjects towards their leaders and the epistemological view of the world. The Greeks defeated the Persian Empire through an extraordinary self-sacrifice. When the Persians confidently arrived in the battlefield to tackle their Greek counterparts, their courier Phidipphides had already sought a 140 mile run to Sparta in two days. This was done in order to solicit help from Sparta’s army. The outnumbered Athenians henceforth fought to uphold their freedom rights, defeat the Persians and send them to Asia. The institution of ostracism was a formally implemented Athenian democracy. This democracy had a function of expelling defiant citizens from the

Was There a Place for Women in Russian Revolutionary Movements Essay

Was There a Place for Women in Russian Revolutionary Movements - Essay Example From 1905 to 1917, women played significant roles in the Russian revolution as they joined the Bolshevik party and became passionate about the cause being advanced by the party5. Their passion mostly stemmed from their desire to gain more rights beyond their traditional Russian female role, but they also showed that they had the ability to work as hard as their male counterparts in order to secure the rights and freedom of all Russians6. Women during the Bolshevik revolution applied the demeanour of the tverdia which translates to being hard and resolved7. These women also had to be rational, merciless, and unsentimental; their loyalty had to unquestionably be directed to the party and not even to themselves or their family (19). In order to comply with this demand, many of these women had to hold off on getting married or having children; others who were already mothers had to be ready to take the risk of bringing their children to the underground hideouts, sometimes even letting th eir children aid in the revolution8. Women became a major symbol of what the Bolshevik revolution was trying to achieve. They became a symbol of causes like equal rights and opportunity which the revolution was fighting for9. These causes were also hailed by the male Bolsheviks as they believed that these were courageous and decisive goals. Support from the men encouraged more women to join the revolution. However, this support was all for show because beyond the eyes and ears of the women, their efforts were mocked10. Moreover, negative rumours were spread about them, with many of them labelled as promiscuous, ignorant, and deviant. Despite the negative rumblings about these revolutionary women, the lower classes of women were still stirred to... Based on the above discussion, there was a place for women in Russian revolutionary movements. The revolutions which were launched at various points of Russia’s history clamoured for equal rights and better work conditions for all. Women initially had a less active role in these revolutions, however, during the 1905 Bolshevik Revolution, they started to take on a more active role. The Bolshevik Party, however, did not take the role of women seriously during the 1905 revolution. Although they supported it to some degree, they did not fully acknowledge the role of women in the revolution. The fact that the women’s movements were not organized at this point also played the role in the lack of widespread support for their cause. In the years leading up to the 1917 February Revolution however, the women were more organized and passionate in their goals. They were also more united and were able to gain the support of many men in launching the revolution against the government . This paper makes a conclusion that as the 1917 Revolution gained the necessary victory for the Bolshevik Party, the women’s place and role in the revolution garnered more support from the Party. Their impact on the government reforms proved to be valuable and these reforms were eventually implemented under the Party and the Soviet Union. They were able to protect their traditional roles, even as they shunned political seats and power. The reforms and rights they sought to secure are protected to date and have served as a momentous precedent for other women in the global setting.

Quantitative Tools Group Project Essay Example | Topics and Well Written Essays - 750 words

Quantitative Tools Group Project - Essay Example This write-up presents a discussion about ways for improving the service productivity and operational success of Going Inc’s pilots and customer service agents who present a certain lack of satisfaction in their jobs. Going Inc’s airline business that services the United States, Europe and Asia has a number of problems that confront managers. Going Inc has a higher than industry average figures for flight delays, baggage and security related check-in delays and late arrival figures for flights. In addition to the other problems at Going Inc Airlines, employees present a certain lack of satisfaction and it is important for managers try to improve morale, service productivity and operational success of pilots and customer service agents. Airline pilots are rather different from other employees because they are expensive to train for aircrafts that they must fly and difficult to substitute in a tight labor market for pilots with commercial experience (Harvey. 2007. Pp. 6). Pilots are the most educated and the most assessed of all airline employees who must be constantly trained on aircraft if they are to perform safely and adequately. Thus, airline pilots possess a certain industrial power and management of airline pilots is an exacting endeavor. However, it is important for airlines to try to reduce labor costs in response to stiff competition in the airline industry and to increase productivity in an era of increased uncertainty about profits (Alamdari, 1999, Pp. 53 – 66). Morale is always important when thinking about service productivity and contented employees who feel that they are being well compensated are likely to be more productive. Thus, airline pilots, who often work on substantial compensation pa ckages, should be offered profit sharing and share purchase schemes that indemnify airlines from having to pay out large compensation in

Heart Failure Essay Example | Topics and Well Written Essays - 1000 words

Heart Failure - Essay Example Heart Failure Precisely, this was the literature gap identified in this study. To establish the research problem, Felter et al. (2014) grounded their arguments on the recent statistical data, which proved the claim of the authors regarding readmissions of heart failure patients. Perhaps, with the supposition to maintain generalisability and include both favoring and opposing data, Felter et al. (2014) also delivered due significance in including information about those strategies, which are adopted by hospitals to prevent readmissions of the patient population, through the implementation of â€Å"transitional care intervention† programs. From an argumentative perception thus, Felter et al. (2014: 774) stated, â€Å"†¦An analysis of Medicare claims data from 2007 to 2009 found that 35% of readmissions within 30 days were for HF [heart failure]†. Although the focus of the study was laid on the evaluation of the health care efficiency in delivering quality treatment to heart failure patients, Felter et al. (2014) also attempted to recommend a few noteworthy solutions to the situation based on the â€Å"transitional care intervention† program that is often practiced to serve the population. Precisely, Felter et al. (2014) stated that their purpose was to â€Å"assess the efficacy, comparative effectiveness, and harms of transitional care interventions to reduce readmission and mortality rates for adults hospitalized with HF†.

What Do I Want To Get Out of Communication in Public Organizations Essay

What Do I Want To Get Out of Communication in Public Organizations Class - Essay Example I intend to understand the professional uses of communication from the class. The models of communication form the core of understanding the use language and communication skills in diverse scenarios. Mastery of effective communication skills defines professionalism. The focus on the use of professionalism in communication is essential to the management processes. That justifies my intention to have a perfect mastery of professionalism in communication. Communication for personal attributes also helps individuals by enhancing their relationship with others. I expect to develop good personal relations with everyone with whom I interact. It provides preparation for practical approaches to communicating with people from diverse cultures at the workplace. The classes should help me shape my relationship with other people and professionals through high level of competence in communication. The class should enhance my understanding of various communication models. Understanding the models of communication will help develop desired relations with other people. Further, I intend to master knowledge of public relations for international organizations. The class will enhance my knowledge of creating proper organizational reputation. Attending the class, therefore, constitutes a fundamental aspect of in enhancing my professional

Enterprise and Entrepreneurial Management Essay - 6

Enterprise and Entrepreneurial Management - Essay Example It is important to consider financial, legal, marketing and other related business considerations in order to keep an enterprise organised in every aspect of it to survive the competition. Competition is everywhere and there are various ways made by business organisations that try to make them a cut above any other. It is in this reason that there is a need to completely set everything prepared and ready before an enterprise can keep going. Hence, a business plan. Idea Generation As the familiar adage puts it, ‘Knowledge is power’. Everything that comes to be created must start with an idea and all generated ideas can be combined together to form a substantial knowledge on certain things, issues or activities. In business activities, there is a need to consolidate all the necessaries and this would include basic data, the business details, financial data, financial reports, supporting documents and more (Cross and Richey, 1998). Therefore, understanding the basic compone nts of each of these will lead to the generation of better ideas. Placing it in the context of business plan making, all of these mentioned basic components can be substantially included in the outline. ... ctives From the idea of Porter (1980) on competitive strategy in reaching competitive advantage, everything about this whole process starts with an objective. The objective itself encompasses everything about formulating strategies. Strategic objectives are very important in business plan since these would determine the right actions to take in order for the business to keep going, competitively above any other. The objective simply starts with knowing what the business owner desires most which might be in line with profit, stature, satisfaction, security and many more (Cross and Richey, 1998). In knowing these desires, the right objectives are obtained and it is through knowing them one may be able to strategically formulate objectives that will ensure competitive advantage. It is impossible therefore to formulate strategic objectives if the business owners do not have complete idea on what they really want to achieve. It is therefore clear that the strategic objectives in any busin ess plan must be able to integrate all the desires and wants of the business owners in order to carefully select the right target to be set for the venture. Market Analysis and Research Here is another important consideration in any business plan. Market analysis and research are widely discussed aspects in every business. This is the reason why there is a growing body of knowledge in marketing particularly on its detailed aspects such as market analysis and research. A business plan therefore must be able to have market analysis and research considering that the whole business process includes marketing activities and part of these is to understand the interaction between the enterprise and the market in general (Kotler et al., 1999; Boone and Kurtz, 2006). The market is a broad area since

Study of personality Essay Example for Free

Study of personality Essay There have been many theories proposed to better understand human behaviors and personality; one of these is the theory of optimal range and self-cognitive. The theory of optimal range and self-cognitive became useful in studying self-stereotyping, prejudice, self-esteem, and self-categorizing of humans and to be able to understand more about one’s identification. The Western beliefs define â€Å"self† as a unified identity which functions on its own, however, the theory of self-cognitive suggests that the â€Å"self† is actually a composition of different factors and elements, for example, an individual define himself through the people related to him such as his parents, siblings, spouses, friends, and others. Through the information about these people, an individual creates a more stable identification of himself. Being in a â€Å"group† gives a person a more definite social and personal identity. One tends to adapt the characteristics of the people around him which shape his personality as well. Moreover, a person tends to find a partner or friends which seems to resembles or almost the same as the concept of his â€Å"self†. However, these characteristics and personalities may vary through time as we meet new people and encounter different experiences. The theory of optimal range discusses the individual’s reasoning ability, judgment skills and decision-making styles according to his optimal level or age. According to it, a person comes to a point wherein he reaches his optimal level of performance to consolidation of a functional performance. For example, an individual can exert his maximum capacity or highest performance level in life in his early 20’s or 30’s, infants and old people are less functional. However, it suggests that a person’s skills and knowledge can be readily accessible if was reconstructed multiple times through range of variations in the tasks, meaning, a person doesn’t become skillful in an instant until he familiarize himself with the tasks and domains. The theory of optimal range explains how and why there are differences in people’s learning skills and capacities. The theory of optimal range and self-cognitive help us understand more about the personality differences and similarities. Although both have their own limitations, each opened the door toward more studies that aims to understand human behavior and personality development. References Valsiner, J. Connolly, K. (2003). Adult Cognitive Development: Dynamics in the Developmental Web. Handbook of Developmental Psychology. [Electronic Version] Fusher, S. Fisher, R. (1993). Conjuring Up a Self. The Psychology of Adaptation to Absurdity: Tactics of Make-Believe. [Electronic Version].

Is an oligopolistic market structure an example of market failure?

Is an oligopolistic market structure an example of market failure? Introduction One constructive approach of categorizing a market is by dividing it in terms of the number of firms on the supply side of the market and the buyers concentration on the demand side. Oligopoly represents one of the market structure where there are a very few firms on the supply side and a huge concentration of buyers on the demand side. As the buyers cannot affect the market conditions, they are going to adopt it as such and the supplier will be busy in anticipating the rival behavior. Oligopoly looms large in industries of steel, petroleum, automobiles etc. Many industries can operate geographically as oligopolies. For example banking in a small town operate as oligopoly since there will be one or two banks in the area and the residents will be forced to take his business to the local banks.( Friedman, 1983) Oligopoly a complex market structure Oligopoly is virtually a big business. Under this market structure, the rivalry takes on its worst form. Product innovations, aggressive advertising and innovative marketing tactics are frequently applied to outweigh each other. Oligopolistic market structures are the most difficult to analyze as they are highly interdependent and interwoven, where moves and countermoves are taken rapidly. For example a simple action by Ford may lead to a reaction by General Motors, which in turn cause a readjustment in Fords plan, thereby modifying GMs response and so on. So anything can happen anytime in oligopoly. There are few models that highlight oligopolistic behavior. They are: Cartels A case arises in monopoly when all the firms attempt to promote interdependence and they all mutually agree to set price and output. The firms through their mutual coordination try to create a giant monopoly. OPEC (Organization of Petroleum Exporting Countries), is an example of a cartel platform. Price leadership and Tacit Collusion It is an arrangement in which one or two firms make an arrangement for the pricing for the entire firm. Other firms are forced to follow the same price pattern although no such agreement exists in the industry. For example: In the infant formula industry, Abbot laboratories, Bristol Myers Squibb and American Home Products deliberately set their prices closer to each other to dominate the industry. The Kinked Demand Curve This model elaborates the stickiness in pricing in an oligopolistic structure. It has been hypothesized in this model that if for example, a firm X lowers its price in an oligopolistic market, the rival will be forced to lower its price to in order to avoid the loss of its market base. The demand curve dd is thus the relevant curve in case of a price reduction. dHowever, if the firm X goes for a price increase, then the case wont be the same. The rivals will not imitate this time, and would continue to enjoy the customer support as they would flee the firm X products. In this case the demand curve would be DD. The firm then tries to remain in a segment of the elastic demand curve between dd and DD. The true demand curve is represented by DAd, known as the kinked demand curve which silently points out the fact heads you lose, tails you lose (Baumol and Blinder, 2009) D A Price 8 (Competitors prices are fixed) 7 D d (Competitors respond to price changes) 0 Quantity per year 1,400 1,100 1,000 Game theory and the Oligopoly Game theory has been formulated to understand the behavior of the firms in an oligopolistic market structure that do not work on a collaborated output and pricing. The underlying assumption is that the large bossy firms are like players in a game of poker. They make the moves of lowering or increasing the price, to advertise or not to advertise, to discount and so on, based on their rivals move. Understanding the payoffs can put a firm in a better position to compete with its rival and be in a profit maximizing and rational position. For example the game between two coffee shops is illustrated as below: C:Documents and SettingsAnumDesktop4th assignmentUnderstanding Oligopoly Behavior a Game Theory overview Economics in Plain English_filesgame-theory-1.jpeg Source: Welker, J. (2009).Understanding oligopoly behavior-A game theory overview. Available from: http://welkerswikinomics.com/blog/2009/12/15/understanding-oligopoly-behavior-a-game-theory-overview// According to the above figure, both San Francisco coffee and Starbucks is following a dominant strategy. They are working up to maximize their outcome through advertising, ignoring what their competitor does. If S.F advertises, Starbucks earns profit ($12 vs. $10) through advertising. This means the pay offs are the same. Since both firms are enjoying profit through advertising they will do so, though the total profits are less in case when both are advertising, as compared to when they are not advertising. But such a condition would be a condition of instability, as to advertise is likely to be beneficial for both. So we say that advertise/advertise is Nash equilibrium, as at this stage none of the firm is going to change its strategy since it is bringing incentive to both (Jason Welker, 2009). Market failure due to Oligopoly Keeping in view the above theories that tries to explain oligopolistic behavior, the market failure due to oligopoly can be attributed to a various causes. Inefficiency, instability and indeterminacy brought about by oligopoly may result in a market crash. The firms supremacy is established as the capacity is established more and more, but little is produced in order to create artificial barrier to entry. The competitors compete on the basis of non pricing factors such as heavy advertising, which gives more hold up to the artificial barrier to entry. Prices are well above cost and price discrimination prevails. Some of the firms also engage in self-regulation to preserve their own profits and market share that further detoriate the situation (Grewal and Kumnick, 2006). Oligopolistic firms output and prices substantially differ from what is socially accepted from them. It is also believed that the misleading advertisement by the large firms also misleads the consumers and compels them to buy products that they do not want. They impose political and economic power and hover over the mind of the consumers working like an invisible hand. Market Form Number of firms in the market Frequency in Reality Entry Barriers Public Interest Results Long Run Profit Equilibrium Conditions Oligopoly Few Produces Large share of GDP Varies Varies Varies Varies Source: Economics: Principles and Policy By William J. Baumol, Alan S. Blinder MC=MR applies for a profit maximizing firm, under equilibrium. However, in oligopoly, MC is usually unequal than MR mainly because in oligopoly the firms are seeking to adopt strategies in accordance with the game theory, or they look for techniques such as increasing sales for profit maximization as their ultimate goal. Conclusion In a perfectively competitive market place the behavior of the firms automatically lead to a maximization of consumer benefits through an efficient allocation of resources. In oligopoly however, resource allocation is usually is not well set, more focused is paid on restricting output in an attempt to maneuver prices and profits. In an oligopoly everything is possible, can happen anytime anywhere, so the economists are still unable to clearly predict its behavior. Besides, its ability to lead the market down, some economists are of the belief that oligopoly has made a significant contribution towards the economic growth in the past two decades resulting in an increase in the average income of the rich countries.(Baumol and Blinder, 2009). Question two What are the implications for management of businesses in such structures? Introduction Oligopoly is a market characterized by few firms. Managers of a firm in such a structure know that their firm enjoys a market power. But the other players also have their share of power too. If the managers take the right course of action, properly assessing the behavior of their rivals in the industry, they are likely to make a profit. Strategic behavior Strategic behavior refers to the firms ability of proper consideration of their market power and awareness of their rivals move. Strategic behavior occurs in oligopolistic structures where there is less product differentiation and a competitive industry exists (Taylor and Weerapana, 2009) Implication for the managers The most important implication for the managers regarding oligopoly is the pricing practice on the basis of mutual interdependence. In case of monopoly, the absence of competition enables the managers to follow the MR=MC role to maximize its profit. Simply following the MR=MC isnt just enough. Example Consider, for example the case of proctor and gamble, where the manager hires a consultant for the thorough analysis of the cost, structure and demand. After a detailed analysis of the structure of the body soap products, the manager follows the MC=MR rule and set the retail price at $1.99.In a sudden move, the competitors Colgate-Palmolive , Lever brothers etc set the price of the comparable product 10 to 15 below to that of proctor and gamble. What the manager is likely to do? Either he can go for advertising and heavy promotion to compete against the lower prices of the competitors or can lower its prices down. Or he can simple do nothing if he is confident enough of the strong loyalty that his brand enjoys among consumers. The point is that, that pricing in oligopolistic structure cannot be done without taking into account your competitor. This is the essence of mutual interdependence (Young and McAuley,1994) The second implication for the managers is to understand that it can be extremely difficult to make money in a competitive market. Firms are required to be as much cost efficient as possible because they cannot control the prices. The managers are supposed to be vigilant enough to be able to spot opportunities and enter the market before the others could enter. They should be able to make their place before the demand gets high enough to support an above normal price. A situation could arise in oligopoly, where the managers in a firm become so successful in beating up the competition that the firm turns into a monopoly, or the one that can exercise monopolistic power. Such a case happened with IBM when In 1969, the firm dominated the computer market so much so, that the department of Justice had to issue an antitrust suit against it (Keat, Young and Benerjee, 2009) Global implication for managers The managers should keep in mind that the process of benchmarking in an oligopolistic structure strategy formulation should be done keeping in view both domestic as well as the global competitors. For example AT T communications not only took into account Northern telecom but also Siemens, Ericsson and NEC and Fujitsu. Many of the firms that refuse to take challenge from the foreign firms are likely to face consequences. Like many American firms got a serious blow from their Japanese competitors in the past 20 years. Companies like IBM and Caterpillar enjoys success because they established a strong hold in the Japanese market well before time. The oligopolistic structure also highlighted the importance of alliance for the managers. Alliances enable the firm to acquire technology from the rival firm. Whilst the acquisition of the technology can be a source of benefit for the firm, the firm giving up the technology can face causalities ( Yoffie,1993) Conclusion The managers of an oligopolistic market structure have to take into account several aspects in their decision making. The managers are plunged into complex pricing decision. They take into consideration the three Cs of Cost, customers and competition in their decision making. Price wars were common in an oligopolistic market, but they are becoming less frequent with the passage of time, mainly due to the realization of the managers. Managers have understood, through their bitter experiences, that the price wars are costly and do not bring any benefits. They chose to compete on the advertising and on product variations. So they have chosen not to compete on prices and have found for themselves a path of mutual advantage.

Morrisons Bluest Eye Essay: Self-Definition -- Toni Morrison The Blue

In Toni Morrison's The Bluest Eye, published in 1970, the struggle begins in childhood. Two young black girls -- Claudia and Pecola -- illuminate the combined power of externally imposed gender and racial definitions where the black female must not only deal with the black male's female but must contend with the white male's and the white female's black female, a double gender and racial bind. All the male definitions that applied to the white male's female apply, in intensified form, to the black male's, white male's and white female's black female. In addition, where the white male and female are represented as beautiful, the black female is the inverse -- ugly. Self-definition is crucial, not only to being, but to creating. As Gilbert and Gubar so astutely note in The Madwoman in the Attic, "For all literary artists, of course, self-definition necessarily precedes self-assertion: the creative 'I AM' cannot be uttered if the 'I' knows not what it is" (17). One way of describing this work of self-definition is as "learn[ing] to understand what around and about us and what within us must live, and what must die" (Estes, 33). But female definition has not been this sorting out process of self-definition. Instead, it has been a static male definition "by default" or "by intent." If the female is to create herself, she must begin with a process of self-definition whose first step is, of necessity, a negation of the hitherto established male definition of "female." Virginia Woolf calls this "killing The Angel in the House" (PFW 286). Before she can say "yes" by creating a positive form she must first say "no" to the false positive form created by a patriarchal society. Before she can reclaim herself from the negative space of t... ...s vital and true. Â   List of Works Cited Dickinson, Emily. The Complete Poems of Emily Dickinson. Ed. Thomas H. Johnson. Boston: Little, Brown and Company, 1960. Estes, Clarissa Pinkola. Women Who Run With the Wolves. New York: Ballantine Books, 1992. Gilbert, Sandra M. and Gubar, Susan. The Madwoman in the Attic. New Haven: Yale University Press, 1984. Morrison, Toni. The Bluest Eye. New York: Penguin Books, 1994. ---, Playing in the Dark. Cambridge: Harvard University Press, 1992. Portales, Marco. "Toni Morrison's The Bluest Eye: Shirley Temple and Cholly." The Centennial Review Fall (1986): 496-506. Rubenstein, Roberta. Boundaries of the Self. Chicago: University of Illinois, 1987. Woolf, Virginia. "Professions for Women." Collected Essays. Vol.2. London: The Hogarth Press, 1966. 284-289. Â  

Energy Deregulation :: essays research papers

As we have witnessed the rolling blackouts and emergency alerts throughout many parts of our state of California within the past 12 months, there is a question waiting to be answered. Why do we have an energy crisis when there are other states that are doing just fine? Before we come to any hasty conclusion, let us ask ourselves what happened to the energy policy during the mid 90s? During that period the electric utilities went from being highly regulated to being deregulated following the trend in successful deregulation of many industries such as airline and telecommunication industries. The concept that deregulation will bring more competitive prices and better services to the public, undermined the negative potentials of the free market system. Deregulation bill must be abolished because it brings higher electricity prices, lower reliabilities of electricity, and also it threatens to drag down our economy along with it. First, we have seen a nation-wide increase in both wholesale and retail electricity prices. In California as an example, the wholesale prices increased seven times last year compared to 1999 (Kahn and Lynch 13). The average residential electric bill almost doubled from $40 to $80 in San Diego when the SDG & E’s retail price freeze ended in June 2000.1 According to Washington Governor Gray Locke, â€Å"the whole energy prices have gone up from ten to twenty times the prices of a year ago (1). In New York, more specifically in New York City and parts of Westchester County which are one of the first areas in the country to deregulate retail prices entirely, the retail rates have increased almost 30% (Eisenberg 47). This is bad when you consider that ones that are going to be most hurt from these unreasonably high electricity prices will be the individuals and families that are in the low-income bracket. Second, the reliability of electricity was compromised throughout many parts of our state, affecting both residential and business sectors. On June 14, 2000, about 100,000 customers were blacked out in San Francisco Bay Area (Kahn and Lynch 9-10). According to Lorenco Goncalves, the CEO of California steel industries, â€Å"We were interrupted 14 times this month [January] compared to not once from 1987 to 1998. So many other industries depend on what we send them†¦If they can’t depend on my products, they will [buy them] elsewhere† (Wood and Sherer). These uncertain interruptions are causing a lot of damage in our economy.

Priestleys use of dramatic techniques to create tension in An Inspector Calls :: English Literature

Examine Priestley's use of dramatic techniques to create tension in the play. Priestly was a socialist writer, and 'An Inspector Calls' is one of the plays in which he tried to display his socialist ideals in. The play was written in the 1940's, a little after the end of the Second World War, and it was first performed in 1946, in Russia, then later in England. Priestly had served in World War 1, and the terrible scenes he saw lead to him having socialist views. He was inspired by other writers whose views he shared, especially George Orwell and H.G. Wells, both of whom references are made to in the opening pages of the play. A lot of the tension in the play is between Birling and the Inspector, both of who are powerful figures in the household and are both vying for dominance, creating a lot of tension. This is symbolic of the global struggle between capitalism and socialism, the Inspector represents Priestley's socialist views, and Birling, the antithesis of the Inspector represents capitalist views, which is made clear through his speech "the interests of Capital steadily increasing prosperity." When the Inspector is there, Birling is very fast to drop the blame on someone else, insisting "I can't accept any responsibility" which is a complete contrast of what the Inspector says, telling the family to "share the blame among yourselves when I have left" This constant conflict, which is often at the heart of the dramatic genre itself, makes sure there is tension whenever the two characters are talking to each other. This conflict is not the only one within the play. Eric also takes the side of the Inspector, causing tension between him and his father after the Inspector has left, this side is also taken by Sheila, causing a "split" in the family, which can be seen by "I suppose we're all nice people now." and "What's the use of talking about. Nobody's brought her to life, have they?" Whereas Birling says, after the Inspector was found to be fake "This makes a difference y'know. In fact it makes all the difference." Also the reference the Inspector makes about Socialism being a lesson we have to learn "We are members of one body if men will not learn that lesson, then they will be taught it in fire and blood and anguish." This is a reference to the way Priestley thought that Capitalism was the cause of First World War, which he himself served in, the "fire and blood and anguish" being a reference to events he witnessed while fighting on the front line.

Iago’s ego in “Othello” by William Shakespeare Essay

Sometimes there are people who are so evil and deceitful one can just feel dirty. Listening to them talk, hearing their words, and seeing their actions just makes one’s skin crawl. During the reading and the viewing of Othello it doesn’t take long to get this feeling about Iago. He is such manipulative, self-serving, and dishonest person; making it obvious he would be a man with a personality disorder. A narcissist is one who is only concerned about one’s self, manipulative, and will use anyone to get what they want. There is no doubt that Iago is the destructive villain in this play. Without Iago’s horrible traits and conniving actions this play would be very boring. He has been considered one of the most villainous characters of all time. Being around a person this evil is very frightening, they are able to accomplish so much with their manipulation. In this play there is no time wasted introducing the real characteristics of Iago. We see his self-servin g anger issues from the beginning. Iago is quick to mention his hatred for Othello (1.3.365). Iago’s ego has been hurt by Othello claiming Cassio as his lieutenant and passing up Iago. Iago feels that he has way more experience in battle than Cassio and just pretends to serve Othello until he can get his revenge (1.1.10-40). Iago mentions later that Othello slept with his wife, Emilia: â€Å"And it is thought abroad that twixt my sheets he’s done my office† (1.3.366-367). Roderigo is the first person to fall to his deceitful ways. Iago’s craftiness get Rodergio to trust him with his with his money; Rodergio says, â€Å"That thou, Iago, who hast had my purse as if the strings were mine†¦Ã¢â‚¬ . Iago states, â€Å"Put money in thy purse† (1.3.328) so that he might be able to win Desdemona’s love with gifts Iago will buy her. But the dishonest plan is here because he plans on keeping that money for himself. It is amazing to watch how quick and smart Iago can be with the other characters. He is able to quickly take a situation and find a way to use others as pawns to work his plan out. He is words and actions are so manipulative putting thoughts in others heads in order for them to assist him in his master plan.

Monetary Policy vs. Fiscal Policy Essay

People always struggled with an idea of prosperity and success, whether it was a personal goal or whether it was something major – like wealth of a country. Nowadays, we are studying a science, which is really significant and valuable – Economics. Economics is a tool for achieving those goals, knowledge that people can use and imply in real life, and at the present time probably undividable part of governments’ performances around the world. For us, students, there are two different matters we study – Macroeconomics, the study of the performance of national economies and Microeconomics, which focuses on the behavior of individual households, firms, and markets. During the fall quarter of 2001, I was exposed to the basic ideas and uses of the Macroeconomics. Macroeconomics policies – government actions to improve the performance of the economy – are of particular concern to macroeconomists, as the quality of macroeconomic policymaking as a major determinant of a nation’s economic health. Monetary and Fiscal policies are two policies that we were concentrated on, and were the most significant part of the course for me. There is too much involved in these policies and they interact with each other consistently. I decided to write this paper, summarizing the basic functions of two policies, tried to explain what it is that makes them work, how effective these two policies can be, and how one relates to another. In looking at the effectiveness of Monetary and Fiscal policies, it must be understood how the two relate to each other within the government structure. The Federal Open Market Committee – FOMC – is the most important monetary policy-making body of the Federal Reserve System. It is responsible for the formulation of a policy designed to promote economic growth, full employment, stable prices, and a sustainable pattern of international trade and payments. The seven Board members constitute a majority of the 12-member Federal Open Market Committee, the group that makes the key decisions affecting the cost and availability of money and credit in the economy. The other five members of the FOMC are Reserve Bank presidents, one of who is  the president of the Federal Reserve Bank of New York. The Board sets reserve requirements and shares the responsibility with the Reserve Banks for discount rate policy. The FOMC is the policy arm of the Fed and the tasks of the Federal Re serve are to supervise banks, fixing maximum rates of interests. The U.S Treasury, though it aids in much of the monetary management, represents the fiscal sector, which is the U.S Congress. Fiscal policy covers, such areas as taxation and other revenue gathering and spending measures. Fiscal policies are those actions that are enacted by the Legislative Branch of the U.S government, the Congress. Their fiscal policies are enacted through the U.S Treasury. Therefore, the Treasury is the arm of fiscal policy and the Federal Reserve is the arm of monetary policy. For example, even if Congress has allocated some amount of money to take over failing banks and savings and loans, and it is not enough, than the Fed can pump capital into the system by buying bank stocks. So, this is example of how the Fed interacts and influences the ups and downs of the economy. In looking at the relationship between the Fed and The Treasury, essentially, the Fed was set up to provide the U.S Treasury with a more satisfactory fiscal agent. In acting as the fiscal agent for the U.S Treasury, or more specifically, as the primary banker for the federal government, the Fed acts as Financial advisor, depository and receiving agent, agent for issuing and retiring treasury securities, agent for other transactions involving purchases and sales of securities for Treasury account, agent for the government in purchasing and gold and foreign exchange, and lender to the Treasury. The Treasury influences monetary and credit conditions as well, through its revenue and expenditure policies, its debt management policies relative to the size and location of its money balance, and so on. As an instrument of monetary management, the Treasury keeps its money balance in cash in the vaults as Treasury deposits at the Federal Reserve, and Treasury deposits at commercial banks. Owing to the degree of Treasury operations, these policies have marked effect on monetary and credit conditions, especially over periods. Ordinarily, the Treasury does not use these powers for intentional and continuous monetary management; this is primarily the function of the Federal Reserve. However, it does try to use its powers in such a way as to avoid creating serious problems for the Federal Reserve, and on occasion, it uses them intentionally to supplement Federal Reserve policies. The following is an example of how this occurs. The Treasury can implement restrictive actions. For example, the Treasury increases it money balance $1 billion by taxing the public or selling securities to the public. When the Treasury cashes the checks, the public loses $1 billion of its deposits. If the Treasury holds these deposits at commercial banks, this is the extent of the effect; the reserve positions of the banks are unaffected. But if the Treasury uses the $1 billion to build up its cash in vault or its deposits at the Federal Reserve, member banks reserves will be reduced by $1 billion. Basically, if we find an increase in the Treasury’s money balance, this tends to be restrictive unless the Treasury acquires the extra money by borrowing from the Federal Reserve. If it acquires the money balance by taxing the public or selling securities to it, the public’s money supply is directly decreased. If it acquires money by selling securities to commercial banks, the public’s money supply is not directly decrease, but the ability of the banks to create deposits for the public is reduced because they must use some their reserves to support the Treasury deposit. However, given the size of any increase in the Treasury’s balance, the degree of restrictiveness depends on the form in which it is held. On the other hand, the Treasury can affect monetary policy, by easing restrictions as well. Sometimes the Treasury utilizes liberalizing actions in a positive way to ease credit to supplement Federal Reserve actions. More often, however, it uses them to a void creating conditions that would make the job of the Federal Reserve more difficult. Given, this information, we can see what the relationship is between the  Federal Reserve and the U.S Treasury. They often complement each other and balance each other out. However, the prime job of the Federal Reserve is to act as the federal government bank, as well as regulating monetary policy, credit regulations, and supervising function of member banks. The U.S Treasury is the element of the government, which collects money from the public, either through the sale of securities or through taxation. The U.S Treasury is that arm of the government, which provides the government with money it needs to operate, which of course is part of fiscal policy operations. The Fed is the bank that the Treasury uses for its banking needs, to be it in the most simplistic terms. *** We were all shocked by tragedy that happened on September 11, 2001. There was a tremendous impact on the entire world by that event. People were heavily affected emotionally same as financially. Many lives were taken by the coward act of those who responsible for such disaster. The US faced a number of consequences followed by many bumps on its way to the future. Unbelievable economic downturn made all sectors of the economy to suffer this impact and force them to make decisions, which they probably didn’t thought of. Because Fiscal and Monetary Policy have a straight connection to the several actions taken by the government to stimulate weakened economy, I decided to cover what is going on right now within government structure and briefly explain what people should expect from policymakers, who are doing their best to respond to these obstacles, which we are facing right now, as quick as possible. Considering that today’s U.S. economy is already in mild recession and many indicators show it might face the most severe economic downturn since 1970s of the last century, President Bush and his administration called for additional stimulus package for fiscal 2002. Policymakers in Washington are considering a number of actions that could stimulate the economy. Among them the options being considering are tax cuts that could spur consumption or investment, and additional federal spending that could directly increase economic activity. Republicans are the majorities in the House of  Representatives and Democrats, who control the Senate, have very different and opposite visions about ways to stimulate the U.S. economy. Republicans consider that economic growth is generated through investments by businesses, which encouraged by cuts in taxes and tax rates. Democrats support the proposal that stimulates consumer spending such as through tax rebates for low-income, extensions of unemployment insurance, and government spending to promote construction and other infrastructure. A several weeks ago, the House Ways and Means Committee have passed a $100 billion economic stimulus package main part of which – 85% – for permanent tax cuts, mostly for corporate tax cuts. The major components of this plan are: Elimination of the corporate alternative minimum taxes and refunds AMT credits. This is a most controversial point of the House Republicans proposal. The minimum tax was designed to make profitable companies to pay a basic amount even if they owe no corporate income tax because of some deductions. Democrats support the fairness of this tax cut but disagree with its retroactive method because although these refunds would effectively reduce the tax rate on corporate income but those compensations for the previous investment, not new investment. Permit 30% immediate expensing write-off for purchase of capital assets over the next three years. Reduce the maximum tax rate on long-term capital gain from 20% to 18%. Deductions of net losses from taxes paid up to five years earlier. Republicans argue that all these corporate tax cuts are necessary to encourage businesses to invest more into new capital because businesses would have more income or retained earnings. And as a result it would spur the economy. Democrats disagree. They tell that businesses would not  necessary to invest; some of any tax cuts will be saved or businesses can simply to pay down their debts or to spend them for dividends to their stockholders and maybe only small part would go into new investment. Permanent cut in the former 28% tax cut rate to 25% would be accelerated to 2002. Democrats argue that this tax cut would be more effective if it will be temporary rather than permanent tax cut because this acceleration significantly shorten government revenue in later years and in the long run the government can’t afford these rates cuts. Moreover, most of the tax relief would benefit only the top one-quarter of all income tax filers, who are likely to save more and spend less from tax cuts than those who have lower incomes and tend to spend whatever extra income they have. That is why Democrats support the proposal to send additional tax rebates for low-income workers, because the more rebate is spend the more effective it is as a stimulus. Democrats want to freeze marginal tax reduction in previous 39.6 bracket to 38.6% rather to decline it. It would save roughly $100 billion between 2002 and 2011. Democrats have proposed a smaller package with far fewer and temporary tax cuts and significantly more new spending – 75% of the stimulus plan. They support the ways that spur consumer spending that has kept the economy afloat such as through tax rebates for lower income workers, expansions of unemployment insurance and government spending for construction and other infrastructure. For instance, temporary changes in the unemployment insurance program or any additional benefits provided would likely be spent and go directly to output. Public capital investments involve direct government purchases of goods and services and therefore directly add demand into economy.

Explain why effective communicating in developing positive relationships is important Essay

Explain why effective communicating in developing positive relationships with children, young people and adults is important Effective communication is important with children because it helps them to feel valued. It shows them that their interests and opinions are listened to. When we listen and communicate with children, this gives them more self-confidence and it also helps to increase their self-esteem, both of these being so important for their future. The child we are communicating with needs to feel at ease and be given the opportunity to communicate back with comfort and confidence. Children need to have role models, they need to understand that these people eg.teachers , classroom assistants or school principles must be listened too, respected and obeyed. Communicating clearly with children (either giving orders or simply praising them) helps to establish this, and in return, hopefully you will built trust and respect. This is vital if a child needs to confide in us regarding aspects of their life which may be troubling them. Eg bullying, family life or maybe having negative feeling. As children slowly learn how to respect you, it should help to develop how they communicate with others. It allows them to develop and reach their maximum potential as they learn how to exchange information. Relationship problems can develop when there is a lack of communication, or don’t have the skills to communicate effectively. These skills include:  good listening skills  using the word â€Å"I† eg I would like you to tell me †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. using the child’s name – this makes things more personal  speaking in an even tone  using short sentences  giving short and clear instructions  open body language We can communicate in different ways: -The way we speak – tone of voice, clarity etc -Gestures – pointing, hand movements etc -Body language – arms folded etc -Facial expressions – angry, smiling etx Effective communication is important for the smooth running of any situation.

An Analysis of Gardner’s Theory of Multiple Intelligences Essay

The purpose of this paper is to explore Howard Gardner’s theory on multiple intelligences. I will focus on spatial and bodily-kinesthetic intelligences and how linguistic intelligence has an underlying effect on the other intelligences. Spatial and bodily-kinesthetic intelligences would seem to be very distant from linguistic intelligence, however I believe that they are more similar then one might expect. Spatial intelligence can be loosely defined as the ability to manipulate and recreated the physical work in ones mind. Artists often use this intelligence as they take an actual object and are able to manipulate it onto a canvas or piece of paper. Many IQ tests have a section that tests the ability of a person in their use of block design. Students who excel in spatial intelligence have the ability to recreate within their mind the things that they see visually. Gardner states, â€Å"The left hemisphere of the brain has, over the course of evolution, been selected as the pre-eminent site for linguistic processing, the right hemisphere of the brain, and in particular the posterior portions of the right hemisphere, proves to be the site most crucial for special processing† (Gardner, p. 181). Gardner is trying to show how separate in the brain spatial and linguistic intelligence really are. By isolating the intelligences, Gardner focuses on the idea of savants and brain damage to prove his theory that the intelligences are totally separate. Eliminating part of the brain would still allow for someone to be successful and intelligent at spatial abilities. His idea is that even if a person lost their ability to speak or the ability to use their hands, that their other intelligences could possibly still work at a high level. I agree with his theory, however I think the intelligences overlap more then he may believe. Linguistic intelligence seems to have a basis in spatial intelligence also. Many students might do just fine being able to read a word problem and then form the design in their head. Gardner gives an example, â€Å"Take a square piece of paper, fold it in one half, then fold it twice again in half. How many squares exist after this final fold? † (Gardner, p. 171). This idea shows how linguistic intelligence can be used when dealing with a student who has a greater spatial intelligence. Even without the student physically being able to fold the piece of paper they could still solve the problem due to their linguistic intelligence. Gardner shows this idea as he talks about people having distinct separate intelligences, but that each intelligence has the ability to overlap with another. I also decided to talk about his theory of bodily-kinesthetic intelligence because I feel this intelligence goes together well with spatial intelligence. Both of these intelligences are educated best by going away from the traditional teaching methods of reading and writing. Bodily-kinesthetic intelligence is the ability for a person to use their body to solve a problem. This can be seen in many athletes and other people who are very active. Some people are born with a higher bodily-kinesthetic intelligence then others. Tests on reaction time have shown that some people are born with almost superhuman reaction time ability. This reaction time allows them to hit a baseball with such success that cannot be taught. Parts of this intelligence can be learned by studying similar to some of the more the academic intelligences, however bodily-kinesthetic intelligence is not viewed as an academic intelligence. Wayne Gretzky said, â€Å"Nine out of ten people think what I do is instinct†¦. It isn’t. Nobody would ever say a doctor had learned had profession by instinct: yet in my own way I’ve spent almost as much time studying hockey as a med student puts in studying medicine† (Gardner, p. 231). Both a hockey player and a surgeon rely on their body to perform at a high level. Bodily-kinesthetic intelligence is just not brute force but the ability to read what is happening, and then adapt. In football, a player will tackle another player, although before that happens the tackling player must read the play to get a path take on the ball carrier. A surgeon can have perfect skills in using their hands to operate but they also need the ability to learn the correct procedures. These ideas show that a person can be above average in more then one intelligence and that is in fact fairly common. The traditional way of teaching is through reading and writing that puts an emphasis on linguistic intelligence. Gardner’s theory is to separate the intelligences by showing that even a person who loses the ability to use part of their brain will still be able to function at a high level at some other intelligences. Gardner points out that he believes the intelligences are separate, but that they rarely operate separately and more often then not there are several intelligences working together. This is how linguistic intelligence is so important to the overall learning of a student. Most tests such as IQ tests put an emphasis on how well a person does on verbal section of the test. Gardner said, â€Å"I have already noted that many retarded children display a surprising ability to master language†¦ Even more striking are those rare children who, despite retardation or autism, prove able to read at an astonishingly early age† (Gardner, p. 84-85). This is apparent when talking about a surgeon who loses the ability to use their hands and so they cannot operate on patients anymore. They may not have the ability to physically do the operation anymore but they can still instruct someone else to do the surgery. This surgeon has lost their ability to use their hands but their brain is still intact so they can use their linguistic intelligence to instruct another person to perform the operation. Gardner does not think linguistic intelligence is more important than any of the other intelligences, but I believe that linguistic intelligence sets the basis for the other intelligences. Without this intelligence the student will not be able to understand what that teacher is trying to convey in class. Language is important for the student to get through school, however a student could get though school without fully realizing their full spatial intelligence. Linguistic intelligence allows a student to gain the ability to study the concepts and then apply them to the other intelligences such as bodily-kinesthetic intelligence. One cannot expect someone to just learn all the intricate details of boxing and then to go into the ring and win a title. This can only happen with some intelligence that is born within the person. Intelligences are within everyone but it is hard for a person to know exactly what intelligence they posses the strongest. Howard Gardner’s idea of multiple intelligences stems from his belief that each person has different intelligences that they posses. These intelligences are inherently separate due to the fact that because of brain damage, a person can lose an intelligence while still being able to perform at a high level on other intelligences. Gardner does not believe that linguistic intelligence is more important then the others, however in our society we put such a great emphasis on linguistic intelligence. A student can fall behind in their linguistic development and due to our societies testing and basis in teaching the student might not attain high grades. This does not mean the student is not smart, it just means that they might excel at a different type of intelligence. Overall, Gardner explains how each person has many different forms of intelligence that they could be above average in.

Case study journal Essay Example | Topics and Well Written Essays - 500 words

Case study journal - Essay Example This paper explores the three learning and teaching strategies as discussed by as discussed in the book. The book explains how effective learning among students is achieved. Collaboration is among the key elements that have been given much emphasis in this chapter. The author states that collaboration helps students to be receptive to challenging assignments, develop crucial skills in cooperation. It also builds a community of learners who are responsible for each other’s learning rather creating a competitive environment which alienates some students, particularly those who perform poorly in class (Willems & Gonzalez-DeHass, 2006). Students’ engagement is also substantially improved by allowing students to learn in pairs or groups. Learning in groups requires them to share ideas and interact in an effective manner. However, accomplishing collaborative learning is faced with challenges such as inequities that exist in the social system of a classroom. In his case, students who perform well dominate groups formed during collaborative learning while poor performers are unable to convince other group members. According to the author, the main elements of effective learning include collaboration, self-regulation and constructivist learning. Constructivism is categorized into two; physiological constructivism and social constructivism. Under physiological constructivism, people use information, help from other persons and from other resources to develop problem solving strategies and mental models, while Social constructivism makes people perceive learning as a participative activity Inquiry based learning and problem based learning are other effective approaches that improves the learning process. Inquiry based learning involves asking students guide questions that are related to the curriculum where by the chosen questions guide students towards a common understanding. It also engages students in the inquiry by allowing them to make

Healfast Health Center & Nursing Home Essay Example | Topics and Well Written Essays - 2250 words

Healfast Health Center & Nursing Home - Essay Example With a healthy nation, USA is likely to have potential personality to achieve its set objectives, goals and aims as well as experience an increased in the living standards and life expectancy of individuals. Ohio is also struggling to ensure enough healthcare facilities and services to meet citizen’s health needs. In particular, Monroe town requires additional healthcare facilities and services. The following is a plan outlining a strategy by which Healfast Health Center will define and dominate a new perspective of providing healthcare services and facilities to residents of Monroe town and to the extended United States of America. In a bid to be the best amongst existing healthcare facilities within Monroe town, the proposed health center and nursing will have caring for the elderly who have been rejected in the society. By being a nursing home to the elderly other than the sick is likely to create more opportunities for Healfast Health Center and Nursing home. This plan outlines how the ‘about to be formed’ health center and nursing will take up such opportunities and many more in a bid to not only meet forecasted targets but also to surpass the same. Moreover, this business plan will also outline how the aforementioned services are going to be achieved within both short and long time whilst trying to explain acquisition of competitive advantage over its competitors. A business must have driving factors such as the mission, vision, and objectives. The mission, vision, and objectives of the proposed health center and nursing home is included within this plan. Analysis of the Healfast Health Center and Nursing Home coupled with its organizational culture provides a better understanding of the business. The philosophy under which this health center will operate is â€Å"

Nitrogen Oxide as an Environmental Pollution Essay

Nitrogen Oxide as an Environmental Pollution - Essay Example with the first section covers the common nitrogen oxides, followed by the sources and potential sinks in the environment, then the chemical behaviour of these oxides, the impacts on human and ecosystem, and finally the prevention and control of these pollutants. Nitrogen oxides mainly consist of nitrogen and oxygen, and the most common nitrogen oxides are nitric oxide (NO) and nitrogen dioxide (NO2) (Farmer 2013, p.26; Harrison 2001, p.179). Notably, nitrous oxide and nitrogen dioxide are emitted when nitrogen reacts with oxygen in the air during combustion at high temperatures and this shows that the amount of nitrogen oxides produced depends on temperature of combustion. Another nitrogen oxide is nitrous oxide (N2O) which is a greenhouse gas that has a greater impact on climate change. Nitric oxide is a colourless gas with a sharp and sweet smell, but nitrogen dioxide is a colourless gas with a strong, harsh odour. Of the nitrogen oxides emitted, nitric oxides forms the larger part, followed by nitrous oxide then nitrogen dioxide which is produced in low amounts, and also it is important to note that both nitric oxide and nitrogen dioxides does not have prolonged lifespan in the atmosphere as compared to nitrous oxide. Nitrogen oxides are produced naturally but they are as well produced by various human activities including agricultural activities, transportation and industrial processes and many others. In nature, nitrogen oxides are produced because of bacterial processes, biological growth and decay, forest fires (Lippmann 2009, p.823), volcano, and lightening among others (Hill 2010, p.128). Thunderstorms lead to the production of nitric oxide as a result of high heat of lightening released in the process of breaking down nitrogen molecules. On the other hand, burning of fossil fuels is considered the primary source of nitrogen oxides as part of human activities. Transportation fuels when burned produce nitrous oxide and mostly, motor vehicles and trucks

Global Management Essay Example | Topics and Well Written Essays - 500 words - 1

Global Management - Essay Example The median household income is $48,617 (City of Arlington, 2011). In terms of religious affiliation, 36% are Southern Baptist, 22% are Catholics, 13% are United Methodists and 29% comprises the other religions. Arlington has ten public elementary/middle schools and ten private elementary/middle schools. It has ten public high schools and seven private high schools. The workforce of Arlington is large, well-educated and diverse (Arlington Chamber of Commerce, 2008). The land area of Arlington is 99.5 square miles and the city’s property tax rate is 0.6480 per $100 valuation (City of Arlington, 2011). The city is in the middle of Dallas-Fort Worth Metroplex and is eight miles from the DFW airport. It abides by the business-friendly traditions of Texas (Cluck, 2011). Over 100 square miles is allotted to business which includes five business parks (Cluck, 2011). In terms of the industries present in the area, as of 2009, the most common industry is construction which comprises 13% of the total industry in the area (Onboard Informatics, 2011). Other industries include accommodation and food services; administrative and support and waste management services; professional, scientific and technical services; educational services; finance and insurance and transportation equipment (Onboard Informatics, 2011). Like the other areas in Texas, the people of Arlington also celebrate varied cultural heritage festivals because of the diversity of its population in terms of background and culture. Since Texas used to be a part of Mexico, a lot of the Mexican traditions have been adapted by the Texans. Among the festivals celebrated by the Texans are Cinco de Mayo celebration. The German heritage has also influenced Texas; thus, the celebration of the Oktoberfest. Other festivities celebrated by the people of Texas are Charro Days, Riofest and Port Isabel’s Day of the Dead. A major consideration in

Critically evaluate the use of Anti suit injunctions in International Essay

Critically evaluate the use of Anti suit injunctions in International Arbitration - Essay Example However, the general perception is that anti-suit injunctions are an interference with disputes that are currently in foreign courts. Arbitration tribunals lack the coercive power that the courts have. As a result, the arbitration process faces several procedural challenges among them the lack of a consolidated proceeding for a common dispute. Thus, parallel proceedings can have divergent outcomes despite arising from a similar dispute3. Lack of precedence also means that awards obtained in specific arbitrations are not applicable to other cases. Strategic delays and their accompanying additional costs as well as breach of procedural deadlines also pose other challenges to the arbitration process. Therefore, anti-suit injunctions are a counter measure against international arbitration. Their employment in a proceeding is to protect public policy or jurisdiction where there are comity issues in the foreign jurisdiction. Comity is the recognition that a nation allows another in reference to judicial, executive and legislative acts. It gives due regard to international duty, convenience and the rights of all persons (citizens or otherwise) under a nations protection4. The subject of anti-suit injunctions in English courts is a controversial one with regard to the relationship between the English courts and foreign jurisdictions5. The 1966 Arbitration Act is a conceptual legislative framework that guides international and domestic arbitration in England and Wales (herein the UK). It has influences from the UNCITRAL Model Law (1985) on International Commercial Arbitration. The Brussels I regulation also has an influence on the decisions of anti-suit injunction in Private International Law. The European Union (EU) also allows the English court jurisdiction on the matter of equity where it applies double standards between the member and non-member states. The

E-Commerce Issues Essay Example | Topics and Well Written Essays - 1000 words

E-Commerce Issues - Essay Example The payment is usually done through credit cards. Once the person has entered all the information he or she just have to wait for the delivery of the products at their home. The biggest issue that arises here is the security of the information transmitted we will discuss about it later. A poll conducted by CNN during Christmas season resulted in 62 percent of the respondents saying they prefer to shop online in this season. Hence by using E-Commerce not only you save money but you can buy products 24 hours a day, 7 days-a-week, without experiencing traffic jams, crowded markets, and carrying heavy bags of shopping. Apart from this organization can increase their profits by introducing E-Commerce as their business runs 24 hours a day. Our organization follows the simple E-Commerce method of using a website, but not only for buying products also for after sale services and complaints about any defected product. We also welcome any suggestions by our customers to improve the way we do business. The organization has its own website that has a multiple range of products as mentioned in the online catalog, the prices are updated every day in order to keep our customers informed. We follow a delivery procedure that has no charges meaning we offer a free delivery for the citizens of the country where the company is operating. Hence we have made different websites for different countries. If a person orders his or her product from the country's website than he gets a free delivery. The ranges of products that the organization is offering are different in different countries and regions. We have a direct interaction with our customers meaning that every customer is contacted through his email for informing him about promo tions and different offers or sales that are being held by the organization, the organization also offers a loyalty card after 200 purchases that enables a customer to get discount on purchases. The organization also does business with other organizations doing E-Commerce. E-Commerce in our organization takes care of automatic collecting of data by these systems, funds transfer by electronic means, electronic-marketing, processing of transactions online, EDI (Electronic Data Interchange), inventory management by automation, and management of supply chain. Security After discussing so much about E-Commerce and its advantages and how our organization follows it, E-Commerce seems to be an easy subject but there are complications as well. The biggest issue that E-Commerce is experiencing during this time is the security issue. When customers are buying online they give the websites personal information that is private and confidential hence it's the organization's duty to protect it. To make sure that the information transmitted is secure certain steps have to be taken. E-Commerce is said to be prone to internet crime, which to an extent is quite true hacking credit card numbers has become a menace to E-Commerce and sometimes people only discourage to buy online because of this. Making sure that E-Commerce is secure physically and from hackers, its important to identify the following: The role of a security policy in e-commerce. Approaches to security risk assessment in e-commerce. Physical security options. The features of dynamic firewalls. The risks involved in