Information Systems Technolog Essay

Information systems technology changes and the well-managed implementation thereof can indeed be such a difficult undertaking for organizations. Though the adaptability of the employees and the management – and oftentimes, the customers as well – largely vary from one industry to another, it does remain that the shift from the old ways to the new ones is not always a welcomed development. The lessons that can be learned from the case of the Workers’ Compensation Board (WCB), as cited by the Bert Painter, are as well applicable to other companies that have similarly transformed their information systems into advanced and more efficient ones. One of the advantages afforded by better information systems is increased productivity in the workplace, which usually translates to higher income levels for the company. Not all functions, though, can be reduced to formulas and technical processes – like those of Claims Officers in WCB. But putting aside the tasks that thrive on the personal touch, creativity and imagination, as well as duties that require the exercise of judgment and the use subjective discernment, there will definitely be big changes in the entire organization. Information systems technology changes are commonly sought by management as a way to reduce wastage in terms of company resources and manpower hours, based on the accumulated employee hours devoted to such outmoded routines as sending via fax the same sheets to a number of customers. However, systems upgrading should always go with adequate change management, as cited by Bert Painter. This way, heightened efficiency at work will be achieved without causing any employee to feel displaced and demoted. The complication that goes with replacing the information and network system of a company should not be underestimated. It definitely brings in a lot of equally awkward and uneasy consequences – the necessary trainings for the employees, the shortcomings of the systems and the employees’ reactions thereto, and the removal from the organizational chart of job posts that are hence rendered useless. These issues have to be properly handled. As Prof. Khalifa has written, high-technology solutions usually are not welcomed as positive developments by people who are prone to be adverse to change. Thus, managing change involves leading the people in the organization to overcome the natural inertia that makes change not easy to implement. There are lessons, too, that Bert Painter did not so much dwell on. For one, it must be understood that the setting up of the company’s improved systems by itself will not boost the revenues generated and will not endear the company to its customers. The same improved systems also will not help the company win the loyalty of its employees. Thus, the interrelationships of people within the organization must not tend toward becoming less personal, not even if more and more old routines that used to foster camaraderie among them are becoming obsolete. Furthermore, there are alignment difficulties that will have to be dealt with during the critical learning stage. In the case of WCB, some of them already have taken form. In such a situation, it is important that professional Information Technology (IT) groups with impressive track records be tapped to address the company’s needs throughout the transition phase. It will entail costs to avail of their services, but it will save the company from losing more in terms of adverse consequences of a poorly managed transition. Without a doubt, the successful upgrading of information systems will, in the end, turn out to be the right move. Work Cited Khalifa, Mohamed. Introduction: Evolving Role of IT. Khalifa, Mohamed. Fundamentals of E-Business.

Jollibee – Document

Traced to this seemingly innocuous start, more Han 500,000 Sirs are estimated to exist in the world today. Jolliness's first approach to international expansion came with the hiring of an outsider, Tony Kitchener. Mr.. Kitcheners' aggressive marketing approach strategy, (planting the flag, as it was known) was Just what the company needed in order to bring brand recognition as well as attract future sales. The strategy encompassed expanding to markets with little competition; thereby, becoming a pioneer in that local market. After Mr.. Kitchener first took over the international division, he revamped it immediately.One major move of this overhaul was to fill key staff sections from personnel hired from outside of the corporation and even outside of the Philippines. He noted difficulties hiring more internal recruits because of Philippine managers' resistance to giving up employees and reluctance for Joining an upstart division. Tensions would soon arise due to relations with the Phil ippine- based operations. Some of these early issues may have been attributed to Jolliness's vertical organizational structure where ETC was the chief executive officer with all divisions reporting directly to him.The vertical organization structure ensured Mr.. Caution ad final say on all endeavors but may have led to efficiency issues. Collaboration between employees and managers on company processes such as recipe customization and new market expansion may be stifled in a vertical organization as collaboration tends to occur in a vacuum. Another type of structure that may have proven more robust is the horizontal structure as employees are encouraged to seek solutions and improvements on their own.As a result, the International Division staff reported this Philippine organization bureaucratic and slow-moving (Bartlett, 2011, p. 47). 2. Analysis and Evaluation A. Jolliness's Successful Business Model (#1) There were several contributing factors in Jolliness's rise to a dominant po sition in the Philippines fast food market. Jollied was able to concentrate resources on growth by financing their company from within. This internal growth, absent of debt or the interest of such debt allowed for a dominant position within the industry as well as allowed for suitable location and franchise choice.Additionally, the family demonstrated positive business intellect by hiring proficient supervisors the market. With the late entry of McDonald's into the Philippines market, as well as he aforementioned business knowledge of the Tan family, Jollied was a formidable competitor with an establish presence within the market well on the way to the ability of global expansion. (#1) Jollied continued to use cultural proximity to their advantage and defended their market share with the entry of McDonald's to the Philippines market in 1981.McDonald's, representing an enormous competitive threat with untouchable resource and reputable experience, Jollied relied on their expertise fo r local preferences to cement their continued dominate position. Even with the lower price point, McDonald's traditional menu choices were viewed as unpalatable to the local customer base, causing slower growth for the multinational company then first forecasted. However, by early 1983, McDonald's was able to obtain 27% of the fast food market share with the unexpected of the Big Mac.Jollied Just 5% ahead in market share then McDonald's quickly responded to the Big Mac challenge with the Champ. Jollied felt the bigger, spicier burger would better entice the Filipino preferred flavor for food; as the market research has suggested. The intended triumph of the Champ however was short lived as by late 1983, political hostility awards foreign investors from the backlash of the assassination of a political leader caused economic breakdown. This breakdown caused McDonald's and other foreign investors to slow their intended growth.Jollied preserved its positive perception within the communi ty throughout the downward turn in the economy, continuing to hone their menu choices; all geared towards the local tastes. By 1984, the fascination with McDonald was soon diminishing. At the economic up rise after 1986, McDonald's soon gasped at the growth of Jollied in their absence, now encompassing 31 stores with principal market share. B. Jolliness's First International Division (#2) According to world market reports published by IBIS World, the world's largest independent publisher of U. S. Industry research, the food service sub-sector's total revenue was about $1. 86 trillion in 2012. The global fast-food restaurants industry was estimated to take account for 38% of that revenue which was an annual increase of 3. 2% from the previous year. However, with developing nations accounting for about 83% of total global industry the industry â€Å"is approaching saturation levels in some developed countries due to an oversupply of fast food businesses and extensive franchising, whi ch is contributing to weaker revenue growth and demand in these industries† (Smith, 2012).Therefore growth in developing nations is essential for continued growth in the industry. (#2) Most experts agree that fast food business plans need to resolve around one thing and that is making money. This focus is achieved by focusing on specific areas of the business plan that pertain to the following: having a targeted initial spending plan, a narrow focus on what the company does well, growth as a result of expanding the menu for sales, marketing expansion, and excellent customer service to promote loyalty (Walter, 2010).Jollied succeeded in the Philippines by excelling in each and every one of these areas while focusing on traditional Filipino culture, by serving to the unique tastes of the Filipino consumer. This strategy has allowed the company to grab approximately 65% of the market share and become the unquestionable leader competition, most notably McDonald's, since many of th e large corporations largely export a standardized menu to the various consumers of the world. #2) Success in the developing nation the Republic of the Philippines has allowed the Jollied food company the opportunity to expand into other Asian countries to include Singapore, Taiwan, Brunet, and Indonesia. Jollied made its first attempted entry abroad in 1985, with its expansion into the Singapore market through a partnership consisting of Jollied, the local manager, and investors. The partnering was ultimately unsuccessful due to an eventual lack of trust between Jollied and the local manager.This lack of trust began when the corporate investors visited to check the local stores â€Å"quality, cleanliness, and efficiency in operations† and were denied entry by the local store managers (Bartlett, 2011). This led Jollied to revoke the franchise agreement and shut down the Singapore store in 1986. Jolliness's second entry into business abroad occurred with expansion into the Tai wan market with a 50/50 Joint venture. Sales initially boomed, but low pedestrian traffic quickly led to decreasing revenues over time.Day-to-day management conflicts again surrounding trust, and an increase in property market rent, ultimately led to Jollied dissolving the joint venture in 1988. The lessons that can be learned from these first overseas expansions have been highlighted before by Forbes magazine, highlighted observations where to match your approach to your business model and purpose, do efficient homework as well as background research, know when to localize your product, be fully aware of your international brand, and ultimately choose the right partner to do business with.As Todd Rapper, the executive vice president of Multilingual worldwide sales stated, â€Å"a [local business partner] can eliminate overhead costs and risks and can be extremely helpful†¦ However, you lose a great deal of control when you employ a rep [and] that individual and company repres ents you† (Conner, 2012). (#2) Learning from the failures of the past, Jollied is now ambitiously trying to expand into the international market, with a company vision of becoming a global player on the world stage and obtaining a 50-50 split between domestic and international sales by 2020 (Staff, 2013).Through its use of strategic expansion efforts, Jollied hopes to continue to spread the â€Å"Joy of eating, and bringing the best of Filipino family experiences, everything from food to ambiance, to [the world]†. Therefore, when company president Tony Tan Caution (ETC) decided to expand Jollied into the international market in 1993, the big managerial question that arose as how to go about making a local Philippine company into a global brand similar to one of the major players of the international scene at that time such as, McDonald's. To answer this question ETC selected Mr..Kitchener to lead the company in this endeavor, and gave him autonomy in deciding how the co mpany's international operations division used its structure and resources. Mr.. Kitcheners effectiveness as the first head of Jolliness's international division will be evaluated based upon the results that were produced from his business philosophy and leadership style in the areas of revenue growth, cost efficiency, profitability, and market share. It must be noted that market share in itself is debatable as to whether or not it should be the accepted and valid metric of market leadership.As Tom Peters of the In-search-of- measured is not managed, and what is not well measured is not well managed. † Thus, this evaluation in determining Mr.. Kitcheners effectiveness will be based solely upon framing Mr.. Kitcheners management style, which incorporates the elements of context, planning, inputs, processes, outputs, and outcomes with his personal equines philosophy and professional business model beliefs. (#2) Before Mr.. Kitchener began to focus on Jolliness's external busines s environment, he decided to start internally with the company by ensuring his division would be separate from the Philippine branch.While the decision to separate the company's international branch from its domestic branch proved to be beneficial in achieving his short term goal of creating anonymity to readily make the business decisions he felt were necessary, largely his total commitment to this strategy negatively affecting his branch and the company as a whole by having the domestic ND international divisions operating on different visions and unaligned business objectives. Mr.. Kitchener began recruiting experienced personnel to his team who he thought would be able to help him achieve his goals for the company.However, whether intentional or not, his choices created the perception of â€Å"elitism† when â€Å"poaching† the individuals from within the company, and going â€Å"outside the house† for other key team positions. He claimed that greater interna l recruiting had been constrained by two factors: resistance to staffing being poached, and lack of interest. Next, Mr.. Kitchener focused on changing Jolliness's business culture in order to make it look and act like a multinational, not like a local chain.After accomplishing the internal changes he deemed it necessary for Jollied to compete on a global stage. Mr.. Kitchener then focused on the company's external strategic thrust. He did this with the ultimate goal of increasing and building upon the success Jollied had experienced to becoming one of the world's top ten fast food brands by 2000. This was an ambitious goal that he had set for himself as well as the company. The completion of the goal set rested upon a business model consisting of woo main trains of thought, â€Å"targeting expects† and â€Å"planting the flag†.The expectation at the time was that by expanding the number of stores, the franchise could build â€Å"brand awareness† which in turn wo uld positively affect sales revenue. Ongoing, market entry was accomplished by negotiating a franchise agreement through investment by the parent company. Responsibility for franchise establishment was then handed off to a Franchise Services Manager (FSML). Resources and expertise were provided as needed to start up and manage an offshore franchise until the local manager was able to then manage on their own.One innovation that Mr.. Kitchener implemented to help the transfer of responsibility be a smooth transition was to create a library of promotional photographs, rather than preparing new advertising materials for each new promotion. Mr.. Kitchener was not only concerned with helping the local managers establish the franchise for the company through strong initial support, but was also with the division maintaining proprietary control as well as each franchise maintaining company quality standards. #2) Flexibility to accommodate differences in customer tastes was deemed to be ess ential. Mr.. Kitchener and his team learned that â€Å"mass-based positioning† did not paces to the demands of the local market and after numerous market entry battles, the international team decided that other elements of Jolliness's Philippine business model needed to be modified in its franchise stores overseas. However, when it came to modifying the menus and the product itself tensions arose with the domestic side of Jolliness's operations, resulting in even less cooperation. #2) According to a research report done in the style of David Letterman top ten list, the top ten reasons for why business fail internationally are as follows: 1) â€Å"Nationalities†, 2) Lack of resources and/or budget, 3) Spread resources too thin, 4) Corporate WHQL Control, 5) Inability to localize content, 6) Treat translation of press materials as an administrative task, 7) Unrealistic expectations, 8) Conducting International PR long distance, 9) Lack of spokespeople, and 10) No action behind the words (Hoffman, 2012). Mr.. Kitchener did an admirable Job in making sure he was nationalistic in his approach to the global market.His control over the international division, allowed him to localize the food products. He was guilty of reasons 3, 6, and 7 for Jolliness's failed attempt at international expansion. Having unrealistic expectations was his biggest mistake. In the end, this was the underlying reason for his failure to achieve the company's goals. Jolliness's international division grew rapidly. However, as operations grew, Mr.. Kitchener and his staff experienced problems with the underlying strategy of the division's international expansion plan.They found not all overseas Filipinos were guaranteed potential customers. They also soon found out that only by achieving a certain amount of sales could many of the franchises afford to advertise and build the brand awareness required to meet resource requirements that became constrained by the rapid expansion into new arrest. In addition the international division could not shift responsibility gradually to the franchisee and therefore had to continually bare the majority of responsibility associated that comes along with starting and maintaining new startups.They found that the local store managers were content to let the division do the day-to-day grunt work of everyday planning and routine operations (Bartlett, 2011). Ultimately, the increasing cost of supporting the widespread unprofitable activities, and the continuing friction between the domestic and international side of operations, was unsustainable for Jollied to be able to obtain the company's vision for the future. In 1997, Mr.. Kitchener was replaced with Noel Tinning as the new general manager, International Division, in the hope of creating and implementing a winning strategy for global expansion.Present day, according to Forbes magazine, Jollied was the world's fifth fastest growing restaurant company outside the United State s, earning $102 million and a sock increase of over last year's earnings. A large part of Jolliness's success is due to the development of market leading brands across numerous categories, with experts stating that â€Å"most competitors have single rand's†¦ Having multi-food concepts enables Jollied to capture a bigger chunk of the dining-out market† (Staff, 2013). C. Noel Tension's strategy for three expansion options (#3) Mr..Tinning faced three huge opportunities for Jolliness's global expansion. First, he had to analyze the potential profitability of entering a small market in Papua New Guiana, where there's limited competition. Second, much consideration was needed over the further expansion regarding Hong Gong's Kowloon district, one of care much for the Jolliness's Philippines-based fast food model. Finally, a proposal to cackle the benefits in a U. S. Market by establishing restaurants there, starting in California, expanding quarterly. (#3) Expanding to Papua N ew Guiana brings both potential risks and benefits.The benefits of expanding to Papua include the lack of competition in the market. Papua has only one poorly managed, 3-store fast-food chain, according to Quality Assurance Manager, Gill Salvos (Bartlett, 2011, p. 51). Match the limited market, and the large population of 5 million, makes Papua a very enticing opportunity. Another benefit would be the offer from Mr.. Salvos to front the capital to launch the expansion. Additionally, suggesting co-locating with a major petroleum retailer, where there was a constant customer flow. The risks of expanding to Papua include concern about Government-Business relationships.There seems to be an issue with stability of rules, policies, and regulations. Businesses remain worried about the stability of the rules, instituted by the government. According to local analysis there's a perception of risk while doing business in Papua New Guiana. Another risk is political uncertainty. According to rep orts, during the asses, businesses in Papua experienced a great amount of instability because of frequent changes in overspent. This led to erratic and frequent changes in policies that a negative impact on the private sector (Holder, P. And Barker, P. , 2007). #3) Expanding current business further in Hong Kong is an exciting proposition, considering the potentially large market there. Mr.. Conation's brother-in-law saw instant success when he opened the first store in 1996 (Bartlett, 2011, p. 51). However, one issue with the Jollied Corporation is its narrowed market†¦ Targeted Filipino audience. The Hong Kong base relied on Filipinos living there to bring in enough business, which at stores close to major hubs where Filipinos gathered, worked out. The problem was with restaurants that were not in close proximity of these hubs; they had to rely on the local Chinese population.Other problems with the Hong Kong market included a rigid menu, which was slow to change, due to Joll iness's vertical organizational structure where all changes had to be staffed to leadership. The benefits of doing business in Hong Kong include low salaries and profits tax rates. Additionally, capital gains are not taxed. The country is bilingual, which would ease business communication, and assist with new staff training efforts. (#3) Challenging McDonald's in its home market is a daring, but potentially refutable endeavor. Mr..Tension's approach to expanding Jolliness's franchise to America could bring much respect for the rapidly expanding company. Just like opening a new franchise in Papua, and expanding operations in Hong Kong, there will be risks and benefits. The biggest risk†¦ Known for its golden arches, McDonald's. However, McDonald's would not be the only major competitor facing Jollied. America is the birth place of fast food. Several other competitors such as Burger King, Kentucky Fried Chicken (KEF), and Pizza Hut had permeated the market as well. Concerns over increasing obesity rates in recent years, also came as concern when expanding to America.Policymakers are developing new regulations on restaurants in an effort to fight obesity. For example July 2008, Los Angels lawmakers banned the more than 500,000 residents (Anderson, 2006). The incredible amount of money Americans spend towards fast food is a definite plus to expansion consideration to the United States. Consumers spent about $110 billion on fast food in 2000, which increased from $6 billion in 1970 (Closer, 2001). The National Restaurant Association forecasts that fast food restaurants in the U. S. Will reach $142 billion in sales in 2006, a 5% increase over 2005 (Closer, 2001).Bottom line, fast food is big business in America. As a fall-back, the West coast has a significant Filipino community, and other ethnic groups which are attracted to Jolliness's menu. Finally, the strong interest from local investors and Mr.. Conation's willingness to crack this market make it an attra ctive investment. D. Noel Tension's way-ahead for Jolliness's international success (#4) Mr.. Noel Tinning, has some very difficult decisions to make for the international expansion of Jollied. Fortunately, he has a great team that is well- versed at conducting risk analysis assessments, and the training under Mr..Kitchener o work with the corporation's FSML to hammer out details of a franchise expansion. It's important to capture that â€Å"quick-win† when tackling any business endeavor. The quick-win in this situation would be to improve and expand upon existing markets in Hong Kong. Hong Kong has one very successful restaurant. Recruiting Chinese employees, and rotating them through the Central district restaurant to receive training, will assist in their success. Additionally, bringing in the new employees will assist in identifying/diversifying menus for local palettes. #4) To garner any kind of profit, Jollied would have to quickly add three to four tortes to be competi tive and cover costs. The GNP in both countries, per capita, is about the same at $2,500 (Bartlett, 2011, p. 51). In the Philippines there are over 900 restaurants serving 75 million people. The PANG population is 5 million people. Starting out with three to four stores, under Mr.. Salvo's capital, will be a good gauge as to whether the company attracts the local interest. The plan is for a Joint venture with local service stations.If the effort is equitable, further expansion from the three or four stores to 20 stores is a plausible business venture. #4) Supporting operations in a small remote market will require effective communication from the main hub to the forward operating location. To ensure success, the FSML will be imperative in developing the team and monitoring sales, customer traffic, and any supply hold-ups. To assist in attracting the local populace, managers should recruit team members from the host country. This will help with any language barriers, and could be an effective marketing strategy.Finally, give managers at the remote market greater flexibility to make decisions without having to use the vertical staffing process. Being able to respond quickly to local crisis, will empower managers, and ensure the new market doesn't miss a beat. (#4) One of the â€Å"Five Ifs,† is catering to customer needs. If Jollied wants to expand its opportunities in Hong Kong, it must customize to local tastes. One of McDonald's global operation attributes is the ability to adjust menu in accordance with local tastes, and even customs, such as its operations in India where it only offers a vegetarian menu.Developing less fatty menu alternatives will be attractive in the Hong Kong market, and may also work in the U. S. As well due to greater concerns Eng in building their confidence in the company. Finally, by baking foods instead of frying them, the company will be saving money. Frying is more expensive than baking because of the oil requirement and ad ditional gas/electricity it takes to heat the oil. Jollied would be catering to local palettes while saving money, by reducing it fried food menu items. #4) Understanding and properly managing cultural differences in the workplace, especially in foreign environments, is essential to business success. When domestic companies hire foreign professionals in an effort to enhance their competitiveness in international markets, a lack of understanding may arise which may lead to an atmosphere that is not conducive to the business environment. As is the case in this situation where Chinese workers were calling the Filipinos worker's discipline lax and their style arrogant; and the Filipinos saw the Chinese managers as uncommitted.To handle this problem Jollied should solicit outside help, a third party, that specializes in helping corporations manage cultural differences. Even though this may be an expensive proposition, it could be billed as a necessary start-up cost that was essential to the process of transitioning the franchise into a sustainable operation. Once implemented, the company would establish feedback options for the employees in order to gauge the effectiveness of the program.It would also see what steps could be taken to create a do-it-yourself mediation communication tool for each individual employee. This tool could be used whenever the need arose, to limit and diffuse future staffing conflicts. (#4) While at face value the Philippine to Asian to Hispanic entry strategy appears to be positive strategic plan. This being said, Jollied also must consider to the company as a whole. The extensive stretch in current resources and failing stores abroad could destroy even the most perfect strategic plan to enter the US market.Discounting the current failures within the company however, this entry plan could place Jollied in a unquestionable positive standing to enter the US market, Just as it succeeded in the US territory of Guam. The positive lessons learne d within the Guanine market can easily transfer into the US; within the area of San Francisco and San Diego, where the Filipino expects surpass those of others demographically, giving Jollied the perception and insight it requires to expand to Asian-Americans, hen acquire Hispanic traffic in order to broaden to other populace within chosen markets. #4) If chosen to enter the US markets it will be imperative for Jollied to control the expansion while supporting the existing locations. This control and support can be established, in the beginning, by transfer current Jollied management to the US market, as it has been done in the past. The careful selection of local franchises will be imperative to Jollied successful growth within the US market, as the consumer perception must be one of consistency in regards to price, selection and customer revive.The experienced management style will permit the local management to fully understand the culture of the company while Jollied management continues to take in the local culture; working together to build a solid foundation to grow from. While the initial foundation is critical, the ongoing support is never the less vital to the company's success, particularly in regards to gaining market share in the birthplace necessary prerequisite for all locations as well as ongoing training for not only the local workers but Jollied core team as well.This training will eliminate the possibility f postulated theories of the direction of the company in addition to reducing the prospect of Jollied losing control to outsiders as it once did when choosing to bring in Tony Kitchener; in turn this will reduce the risk of company divide between Jollied core team and the international department. Jolliness's continued success relies on its ability to learn as well as grow its own business. The alternative is the failure to comprehend what is taking place within its own walls and therefore losing control of the business they have fought to build. . Recommendations The previous material illustrated successes and mistakes of the Jollied Corporation. USSR growth in developing nations was highlighted for its importance to continued growth in the industry. Jolliness's ability to maintain its superiority in its home market was explored, and keeps its closest competitor, McDonald's, at bay. Mr.. Kitchener was responsible for building an elaborate International Division, and some of its initial success. Unfortunately, his approach didn't quite match the vision of the company, and may have lead to more strife than success.His departure opened the door for Mr.. Tinning, who was immediately faced with three huge challenges of improving upon existing markets, and moving into new ones. The three opportunities were explored, with Hong Kong determined to be the relatively safest challenge to undertake. The Hong Kong market was deemed a possible quick-win situation because of the existing successful restaurant. Host country recruitm ent could help in developing a menu that fits the local customer base better.Having a staff made up of both Filipino/Chinese employees would help with any language barriers that may be preventing new customers from choosing Jollied over other options. Finally, Jollied could improve business communication and decision making by adjusting its organizational structure. It was noted that menu adjustments with the Hong Kong market took an incredibly long time to be addressed due to the vertical organizational structure of the company. All decision-making has a centralized flow to ETC.

Student Essay

In both â€Å"Hard Choices† and â€Å"Initiation into Adulthood† we are giving a look at three different stories, everyone who is approach to adulthood is filled with growing pains, and stretching out of our comfort zones, and the decisions that make us who we are. Each of the Essays looks at them differently. What made one better than the other? We learn that getting and keeping the reader's attention Is very important. The author of â€Å"Hard Choices† let us know what we are going to be reading about fast. In the essay â€Å"Hard Choices† we are given a clear Introduction and thesis statement.Telling us that we are looking at an overview of different stories, not Just a story written about children's choices or their passage to adulthood can help us to understand what we are reading. By letting us know right away what the essay Is looking at makes It easier to read. Furthermore, â€Å"Hard Choices† did a good Job comparing the three stones. Not o nly holding our attention with clear overviews that were Interesting but also a paragraph at the end comparing them all. Then closing with a conclusion that was short and to the point will help with understanding.In tot essays we get a comparison of the 3 stories in the conclusion, there are still some points that left me looking for clarity, after reading â€Å"Initiation into Adulthood† In the â€Å"Hard Choices† They not only looked at each story it addresses a total comparison taking the comparison further. One weakness that I saw in the essay â€Å"Hard Choices was the way two of the paragraphs started, â€Å"Like† and â€Å"Likewise† are so similar that is almost repetitive. There are other words that could have replaced one of them. Starting each of the paragraphs differently would make for better reading.Although the word choice was great the start of each of the paragraphs was repetitive. On a whole the essay â€Å"Hard Choices was well written and superb at keeping our attention altering the way each paragraph was started would have made it more enjoyable. Looking at â€Å"Initiation into Adulthood† the start was misleading; don't wait till the thesis statement to let us know the essay is a comparison of stories. When first reading â€Å"Initiation into Adulthood† it appeared as though this paper would be talking about how we all become adults and grow to have our own say in the life e live.This can be miss-leading and loose some reader at that point. Also, being more concise and interesting in your disruptions of each story will help to keep each reader reading, looking for more. We were told what happened in the story but the reader's attention may or may not be held if they are not a little more Involved. â€Å"Initiation into Adulthood† was written using proper grammar and conveyed the correct Information. Summing it all up, Writing a paper comparing the works of others can be helpful and also hu rtful at the same time.The approach best taken loud be one that holds a reader's attention telling us as we go the highlights and comparisons, Including the good and bad. But then at the end answers any questions that might be out there unanswered and still needing more Information Student Essay By Tweets We learn that getting and keeping the reader's attention is very important. The the essay â€Å"Hard Choices† we are given a clear introduction and thesis statement. Understand what we are reading. By letting us know right away what the essay is looking at makes it easier to read.Furthermore, â€Å"Hard Choices† did a good Job impairing the three stories. Not only holding our attention with clear overviews that were interesting but also a paragraph at the end comparing them all. Then closing some points that left me looking for clarity, after reading â€Å"Initiation into Adulthood†. Reader's attention may or may not be held if they are not a little more involv ed. Correct information. Summing it all up, Writing a paper comparing the works of comparisons, including the good and bad. But then at the end answers any questions that might be out there unanswered and still needing more information

How health care cost and the aging baby boomer population will affect Research Paper - 1

How health care cost and the aging baby boomer population will affect the economy - Research Paper Example This paper centers the discussion about the supply and demand of the health care cost associated to the aging baby boomers, and its effects onto the national economy. Finally, a conclusion will be drawn to justify the researcher’s analysis within the general scope of the study. Approximately after ten years, the general population of the baby boomers will range between 51 to 70 years old (Court, Farrell, & Forsyth, 2007). Baby boomers should be enticed to work after their retirement stage. Because of the growing demand for baby boomers to continue their participation in the workforce, some fractions of the national policy should be amended. Further, 69% of the baby boomers are not yet ready to adopt new lifestyles (Beinhocker, Farrell, & Greenberg, 2009). Baby boomers will report 40% of the United States’ expenditure by 2015, especially onto the disproportional division of growth and expenditure in industries from healthcare (Macunovich, 2012, p. 3). It was unearthed that the oldest baby boomers are fiscally unready to leave the workforce and are not conscious about their quandary (Beinhocker, Farrell, & Greenberg, 2009). It was found that more than half of the total population of the baby boomers was determined to work after their formal retirement (Court, Farrell, & Forsyth, 2007). As a matter of fact, baby boomers’ workforce is increasing nowadays. After their retirement stage, baby boomers will still tend to work despite their age (Macunovich, 2012, p. 3). The growing demand for this cluster is relatively high due to economic turmoil that is happening nowadays. Baby boomers tend to continue working because they need to cover up their consumption by gaining no more than 80% of their standard income. As to that, there would be 40% of them active in the workforce at age 65. By 2015, 33% of the baby boomer workforce will reach over the age 50 (Court, Farrell, & Forsyth, 2007). Approximately, 83% of them are receiving social security benefits

Negotiation Planning Case Study Example | Topics and Well Written Essays - 1000 words

Negotiation Planning - Case Study Example They provide an estimate with respect to the direct material and direct labour, and this puts the ball in their court despite the company or the buyer providing their estimates with regard to direct material and labour in order to make the modifications, because the sellers are the ones being used for their services. Furthermore, the sellers are in a better position because they are able to quote a price that covers damages caused during the process of making modifications and, thus, keeping aside a negligible amount for the same. They also have taken into account an estimate for spoilage, new items, etc. in order to be on the safer side, keeping their profit margin at the best possible rate for the buyers. 3. In a contract, each party will do its best to emerge as the winner and have the best possible consideration at his/her end. In this contract, the sellers are in a better position than the buyers; however, it must be understood that the two parties do have misconceptions regardi ng one another. First, the buyers are doing their best to decrease the material and labour costs as much as they can because of the price that they will have to pay. The sellers, on the other hand, are trying to negotiate the same in order to maintain a profit margin, as well as to keep room for damages and arrears. The sellers must understand that the optical instruments require modifications to be done within the best possible cost estimate in order to keep the buyers from shelling out much money. Nonetheless, the misconception that the buyers have that the sellers will give them a quote more than they expect may be considered outside the scope of negotiation because ultimately, the buyers need to look into quality and take into account that they would be ready to pay the estimate rolled out by the sellers in order to be left with the best possible end results which will, in turn, help them cover the investments that they made. It is yet again another misconception for the buyers or the Gilbert Company to estimate the overheads and material costs that will be required for the purpose of modification, because the sellers will be able to provide a better estimate knowing that they have to provide their services while keeping a 10% profit margin. 2. In the second answer, we need to analyse the data carefully to ascertain the elementary assessment of the information. Negotiation Plan for the Buyer: The buyer’s position over here is conceptually taken on a different role than the seller’s position. When Pilgrim asked for a cost analysis programme to be conducted for the product, there was a major difference between the cost analyses of Gilbert and Price Analyst. This catapulted Pilgrim to extract the date based on the report conducted by both the parties and a combination of the report between these two parties was evolved to determine the actual cost elements in the negotiation planning. Pilgrim finally called Price Analyst to conduct a negotiation plan for the company since there was an immense difference coming out of the analyses conducted by Gilbert and Price Analyst. The proposed price by Pilgrim was 225,893 USD. This was the price at which he ideally wanted to sell all his 45 optical instruments to the buyer, which is Gilbert Instruments. Price analyst in its analyses compared the labour rates, the GA rates and the Overhead rates which went in modifying the optical instruments at the peak of their prowess. At the current level which is designed by the Price analyst,

The Muslim brotherhood in north america Research Paper

The Muslim brotherhood in north america - Research Paper Example Practical politics of the Muslim brotherhood in the US have had some impact on the American domestic scene as well as the way US deals with the Islamic world. This writing traces the development of the Muslim Brotherhood and tests the movement’s readiness to conform to the rules of the emerging American society. In achieving strong union, it is not advisable to sacrifice liberty to attain unity. Although it is always necessary to attain a strong union, liberty is equally important and therefore it should not be neglected. A strong union may be triggered by economic reasons such as unequal distribution of wealth or the zeal for different religious beliefs or perhaps an attachment to different leaders who are contending for power, which may largely divide a society. Some scholars argue that unity can only be achieved when diversity is respected as this implies the paradox of democratic life. Despite the fact that independent systems are always desirable in a democratic world, th eir freedom and independence may somehow entitle them to do harm. It is worth noting that globalization has made America to become part of the world as the world as also turned out to be part of America although the challenge with the American democracy may not live up to expectations if citizenship becomes meaningless. According to Lopez Muslim Brotherhood is an oldest and the most influential Islamist movement founded in Egypt in 1928 and was strongly opposed to colonial rule (Web). Muslim Brotherhood based its discourse on Islam and believed that Islam is the only answer to Western military, political, economic as well as cultural influence in the Muslim world. The movement used a modern method of political ideas to mobilize support and spread across the world. In US, the nucleus, which began with the Muslim Student Association in the 1960s, laid numerous movements such as Islamic Association of North America as well as the Council on American Islamic Relations that had a common financial sources and occasional participation in common initiatives (Vidino Web). The groups included affluent, well connected, highly educated and motivated leaders with strong followers whom US authorities reach out to when seeking to engage the Muslim Community. Brotherhood movement have access to government because of the dynamics and although they have ideological ties with the middle east they are independent. Many organizations are currently linked with the Muslim Brotherhood and in the past decades, they have changed their tactics and objectives (â€Å"DiscoverTheNetwork† Web). â€Å"DiscoverTheNetwork† posit that the Brotherhoods’ goal to the west is very different and some critics posit that they intend to impose sharia law in the west (Web). One of the movement’s goals in the US is to preserve Islamic identity amongst American Muslims through a conservatism and openness approach without applying g isolation. Moreover, Muslim Brotherhood normal ly wants to be designated as an official representative of the Muslim community of America although there unrelenting in activism has not attracted many members. Most American Muslims usually ignore the movements’ claims thus prompting the organization to associate with the American elites who may financially support them and provide political support as well as legitimacy. They deemed it necessary to connect with elites so that they can

Trading in prophet Mohammed age Essay Example | Topics and Well Written Essays - 750 words

Trading in prophet Mohammed age - Essay Example Mecca was not an oasis city so there was no significant agricultural trade going on. Foodstuffs and other agricultural products are imported from other places, some in Arabia and some from Syria. The trade has been depicted excellently by Muhammad’s life. Early in his career, he has dabbled in trade himself and was particularly good at it. The story is particularly enlightening. Muhammad found himself employed by a wealthy merchant, Khadija who eventually proposed marriage after a fruitful business relationship. Muhammad’s stint as a manager of Khadija’s caravan, earned for him a reputation as hard-working, modest and trustworthy, with many people calling him, al-Amin (the Trustworthy) as a result. (Jackson 2006, p. 3) Muhammad’s experience demonstrated the fact that people, with the right attitude and character could easily thrive in trading and enjoy financial success. After Muhammad and Khadija got married, they were said to have became business partner s and have continued trading successfully. Muhammad, though born to minor nobility, was actually poor because he was orphaned at a very early age. His rise and accumulation of wealth was not entirely out of divine intervention nor an isolated case. There were ample opportunities in trading and many citizens have enriched themselves by taking advantage of them, including women like Muhammad’s wife. ... For a trader, this is an excellent opportunity. The pilgrims needed food, shelter, clothing, among other necessities and luxuries. Organized caravans would carry these kinds of goods from other trading centers like Yemen, Syria and as far as India and Africa. These latter two locations were excellent sources of luxury goods that are quite in demand in Mecca – slaves, ivory, spices. Then, there were the so-called pilgrim fairs, wherein traders sold goods to pilgrims and visitors. Crone (2004) wrote that Mecca became a major market as scholars occasionally mentioned Hudhalis, Kinanis and others selling camels, sheep, slaves and numerous other commodities while Umayya was said to have sold imports on the lower part of the city. (p. 179) In addition, trade has also brought foreign merchants to Arabia as Byzantine and Jewish traders were said to have travelled to Mecca actively selling their wares. The religion variable is further reinforced by the fact that many pilgrim stations i n Arabia had experienced drastic commercial transformations as well. Crone has sufficiently explained this, citing the financial success of cities like Mina, Ukaz, Arafa, Majanna and Dhul-Majaz. (p. 175) In addition, the religious cult that emerged has drawn people from all over that by the latter part of the sixth century, Mecca became a major shrine in Arabia and perhaps the Middle East. Commercial activity flourished further because the cult created a peaceful and stable community that was very conducive to business. Mecca became an important haram in which violence and bloodshed are prohibited. (Donner 2010, p. 35) Traders can come and practice actively without the fear of being molested

HR Essay Example | Topics and Well Written Essays - 500 words

HR - Essay Example ations on the base pay, which include external competition, employee equity, the Equal Pay Act of 1970, communication strategy, and use of point-factor rating and definition and evaluation of benchmark jobs. In the contingency pay reward structure, the main proposal is to disregard the current system in place (contribution pay) with a combination of Competence Related Pay and Individual Performance Related Pay reward schemes. The section also proposes several cost-cutting measures and exercises. Part three of the report highlights the non-financial rewards and an overall reward recommendation, including learning and development, performance management, career development, and work environment. Part four of the report contains all the possible alternative retention plans and cost cutting strategies that are applicable in MB’s environment, including Employment Stock Ownership Plan, time extension of paying bonuses, and enhancement of job designations. The fifth and final part of the business report concludes with specific recommendations on a cost-effective reward structure for MB that will enhance the commitment of the workers, raise the morale of the employees, and thus increase the profitability of the company. The combination of low profitability, a lack of performance culture, low morale, and commitment in MB is the result of embedded complacent attitude, irrelevant reward structure, and multiple shortcomings in HR practices multiplied by too hierarchical structure and remote location of departments from each other and the Head Office. The changes offered below are vital to stay afloat. 1. Increasingly popular in job evaluation is a method of combining of two analytical schemes: using point-factor rating to define and evaluate benchmark jobs (jobs which can be used as points of comparison for others), and evaluating the remaining jobs by means of analytical matching (Armstrong pg 254 - 263) 2. External competitiveness: it is necessary to operate exact

Project management Essay Example | Topics and Well Written Essays - 250 words - 18

Project management - Essay Example 1b) The second difference is the work of Sprints that Hill describes. This is achieved through regular iterations of work, known as Sprints which enhance the product as depicted by the team. It is clear to understand that Agile enhances the churn by reducing defects and defining the product resourcefully. The team evaluated by practicing this technique to steer the direction of the product via this methodology. When a team stops and re-evaluates the direction of a project every two weeks, there’s time to steer it in another direction without spending quality time. 1c)The third difference is the change of scope that is prominent according to Hill 2.The closest role as defined in the Scrum Guide is The Project Manager itself, who must verify these deliverables are those items that have been finished. 2a)However, upon the end of implementation phase, closing a project becomes a necessary point. Closing a project requires careful analysis and often misunderstood from a project management standpoint. 2b) It is the best role because Keeping in track with their progress on day to day basis can be truly helpful in the long run. This become problematic as the project due date comes closer since many smaller tasks may not be captured in the WBS itself. One of the biggest concerns for closing a project is the end the finer details of the store. This becomes more problematic the project does not achieve optimal results. In the Scrum Master Toolkit, the 3 reasons it is supreme is because it is Agile. 3a) Agile allows organizations to harness growth, breed innovation, and define products that can be tangible and intuitive. 3b)Secondly, it allows organizations to one can prototype. Prototyping allows Agile engineers to draft an idea in a constructive manner. This allows organizations to capture interface requirements as depicted by Hill as a central mechanism. 3c)Lastly, props are used in non-tangible sense that allows Scrum Masters to excel in their

Active Listening at a Parent-Teacher Association Meeting Essay

Active Listening at a Parent-Teacher Association Meeting - Essay Example For this particular meeting, the teacher's table was set off to a side of the room to hold the laptop and projector that would be used for the power point presentation later on. Anticipation built up as to who would be the speaker for the night as the parents and teachers began to trickle into the classroom. There were rumors that the school Principal, Ms Berry would be addressing the parents directly due to the need for financial pledges in the improvement of the private school facilities. I noticed that most of the parents seemed to have been coming in directly from work, some still dressed in their official uniforms or looking haggard as they ran from an office meeting to the PTA conference. I chose to attend this particular event because I knew that the people who would be in attendance would already be distracted by either their exhaustion from a busy day at the office or their desire to get home as soon as possible in order to attend to their household and parental duties. From what I observed of the attitude of the people gathered in that classroom that evening, they wanted to be anywhere but at the school at that very moment. It seemed obvious to anyone observing the group such as myself, that this was one group that was not in the mood to listen to anything the speaker of the night had to say. Once the school principal arrived, it became fairly obvious that the rumors were true and she would be taking to the stand in order to address the parents. Knowing very well that I would have to report about the meeting to my cousin upon her arrival, I began preparing myself to become an effective listener based upon the principles outlined in our book. DeVito clearly outlined the principles of listening within the pages of our textbook.  

International Management Accounting Essay Example | Topics and Well Written Essays - 2750 words

International Management Accounting - Essay Example Answer: In the era of merging cultures and competition in businesses, the criticality of management role and decision-making strategies has increased significantly. Decision making on the basis of estimates and assumptions has far been obsolete. The need of a systematic approach for decision-making has been felt, by companies and organizations to improve the authenticity and accuracy of the decisions made (Gelinas et al., 2010). This need urges the researchers and analysts to devise a methodology, which covers the useful data and information about the company’s revenue, loss and expenditures, which could aid in making company plans and decisions accordingly. Previously, the method used for gathering information, which would be the base of management decisions, was the Management Information System (MIS) (Gelinas et al., 2010). This system was based on manual data collection and there were great chances of human error and delay in forming reports. Maintenance was another viable issue with this system, causing company much time and problems in extracting old data and statistics. Practices show that the ambiguity in the system, leads to unfair approach in the decision-making process, due to lack of accountability of executives to the investors or creditors (Gelinas et al., 2010). MIS was also influenced by the environment and society norms of the region. In many organizations, cultural and economic factors influence the decision-making strategy and proposals of the top level management (Nicolaou, 2000). Managers from two different religions, or two different backgrounds, would have different decision-making criterion and approach. Many a times this factor influences largely on their problem handling and planning approach, which differs from the real interest or objective of the organization. Thus, a functional method was needed, which could curtail the influence of cultural and socio-economic factors from the decision-making phenomenon (Nicolaou, 2000, pp.1 03). These factors accounts for the design of the accounting information method to use in decision-making by executives and managers. It is commonly known as the Accounting Information System (AIS), in the corporate market. Its function is to collect information and generate accurate statistical and financial reports of the company or organization. These reports are available to both the internal management and executives and the external management that are the shareholders, investors or the taxation agencies (Gelinas et al., 2010). With the accuracy and transparency AIS provides in its reports, people related to the company have a clear idea and company’s standing, and the financial ups and downs. Looking into the history of AIS, we can draw a picture, of the limitations and problems in its implementation on a wider scale. Based on computer-aided technology, AIS was installed as legacy systems, which were expensive to install and maintain. Moreover, only professionals could operate the format and language used in those systems, with high complexity in generating report and comparing two or more data (Beke, 2010).

Modern and Contemporary Essay Example for Free

Modern and Contemporary Essay This paper deals with two things in relation to pantheism: first a few samples of the contemporary literature, which argue very little and unpersuasively, However, two major historical theorists of pantheism, Spinoza and his later follower, Schelling, serve to rescue the theory and place it on a firmer, more scientific ground. Pantheism has taken many forms throughout its history, and no one definition will suffice to take in all particular manifestations of this phenomenon. One of the main disconnects concerning pantheism as an ontology is to what extent Pantheism can be called a religion: this is the real issue. The modern, contemporary pantheists seem to have no religion whatsoever: no God, no doctrine. The contemporary readings on this question seem to â€Å"socialize† the vague â€Å"interconnections of all living things. † (Russell, 2008, 2). To merely attach a vague feeling of the â€Å"sacred† to a purely secular view of natural interconnections is not to create a religion. And hence, the problem. One might take the view that there are generally two forms of pantheism over time: the modish, trendy version that seeks to sacralize the secular phenomenon of nature, and a far more sophisticated form of pantheism made famous by Baruch Spinoza and his later pupil (of sorts) Friedrich Schelling. Both of these questions will be dealt with in this paper. First, we will deal with the contemporary readings on this subject, and then, the far more substantial questions of pantheism brought up by the Dutch philosopher. Standing in the Light is a book that says very little. It is heavy in vague emotive connectiveness, very light on definition and ontology. Ultimately, the â€Å"light† is whatever you want it to be: it can be a religious figure, a philosophical idea or merely a feeling, hence reducing it to nothingness by attempting to cover every emotive reaction (Russell, 2008, 3-4). In this view, she seeks to redefine atheism (cf page 4) as a view where the â€Å"universe† is seen as not sacred. But since the concept of the sacred is never defined, there are no atheists. Or, better, that this vulgar view of pantheism, which is reduced to a feeling of awe in the face of nature (as representing both good and evil, as she holds, 87ff), is itself atheism in that there is no God, but there is an awe in the face of nature’s grandeur. Few atheists would recoil at awe when looking at nature. In this same vein lies the work of Paul Harrison (2004). Again (35), he holds that â€Å"nature is to be revered. † It is unclear whether he thinks nature of â€Å"god,† since god is an elastic term that covers the object of one’s awe or respect. His dispensing with philosophical rigor is typified in his manipulation of Anselm’s famous ontological argument for god’s existence. In Harrison’s case, he mutilates it beyond recognition. The original argument was, to summarize, that god is that about which nothing greater can be conceived. But since this object must have existence (since to have existence is to be greater) god must exist, since that would be the greatest thing conceptualizable. Harrison does not seem to understand the nature of this controversial view. He assumes (Harrison, 36) that nature is the greatest thing that can be conceived, and hence, is god. This has no bearing on the argument ascribed to Anselm of Canterbury. He also seems to completely misunderstand Aristotle’s argument from causality. On page 38, Harrison holds that the â€Å"skeptical† answer rejects the necessity of a first cause, there is no need for one. If one can imagine a limitless future, one can imagine a limitless past. Since no one can imagine or visualize a â€Å"limitless† future, the same might be said of the past. Harrison seems to posit an actual religious element to pantheism in that it holds that matter is eternal, ever existing, always changing, and hence, it is a belief to be taken on faith, and hence, religious. A mildly interesting argument is his philosophy of history. He holds that history contains three movements: the hunter gatherer stage, agricultural and technological (Harrison, 50-53). It goes like this: at one time, man lived in full accordance with nature as hunter’s and gatherers. Then he decided to become settled. This was the great evil: settled agriculture places man as master of nature. Only in the technological phase was nature reintroduced, permitting a rational eco-centrist to rebuild our planet. Making sense of this argument is difficult: there are several fallicies: first, that the hunter gatherer lives in accordance with nature. He seems to have the hidden premise that all things primitive must be eco-friendly. Second, that agriculture means that man masters nature. This seems hard to swallow, since the agriculturalist mind, up until the 20th century, worked as a partner of nature, not its master. The explicit Baconian idea of dominating nature is precisely the beginnings of the industrial revolution. The argument is that when people no longer had any connection to nature, no longer lived off the land, they could then romanticize nature, and hence, see it â€Å"for its own sake† (Harrison, 52). In other words, when the technological revolution created urbanization and rape the landscape, the now alienated urbanite could make of nature of object of romantic devotion. It is precisely in the leaving of the land that one can then see it as an aesthetic object. Lastly, the author refuses to deal with the question of determinism (60). The pantheist determinism argument might look like this: all things are interconnected, the force, the unity of the interconnection is â€Å"divine,† human beings are part of this divine interconnection and hence, to conclude, humans are determined by these connections. It is difficult to wiggle out of this argument, an argument that is not found in Harrison’s book, but dismissed regardless. If freedom exists, it cannot be material. If it is not material, it is spirit. If it is spirit, then it must have a cause. But the concept of pantheism presented by Harrison posits no cause. Hence, human beings are merely determinations of material reality and hence determined. Harrison denies that human beings are determined, but does not explain how one can get out of the pantheist argument, unless one posit’s human beings as, to some extent spiritual beings and hence outside of the natural, universal causal chains that are so evocative of reverence. This is another serious flaw. Next, we have the short piece by Wood (2005). Wood is not so much arguing here for pantheism as for evolution, upon which all contemporary theories of pantheism seem to rest. This piece is basically an attack on fundamentalism, which is defined as that belief system that rejects evolution in that it rejects the principle of change inherent in all things. Pantheism has no belief system, only evolutionary ecology. One need not be a pantheist to accept everything that Wood says, it is a non-philosophical piece. Far more substantial is that work by Steinhart (2004) on the question of ontology. This is an interesting survey piece dealing with the nature of pantheism from the point of view of materialism, Platonism and Pythagoreanism. But just as interesting is his idea of the nature of god: God, in traditional theology must be: supernatural, complex (in the sense of maximal inclusivity), God must represent Himself to man, and God must be holy (Steinhart, 2004, 65-66). Of course most of these can be challenged. In Christianity, for example, God is not complex, he is simple. He is not merely supernatural, but exists within nature as its designer and guide (thought this is never an ontological connection). Nevertheless, the key to the argument is maximum inclusivity, which is not an attribute of God in traditional theology in the sense Steinhart means it, and it is question begging in terms of pantheism, since the argument presented her is that the nature god of the pantheists is by definition all inclusive, and hence, comes closest to the â€Å"traditional† idea of God. He seems to engage in the same logical fallacies as Harrison. Steinhart fails on several levels. First he fails to explain how the materialist whole can be â€Å"holy,† in any sense. Second, he fails to show how the disembodied forms of Plato can be associated with pantheism in the definition he provides. In fact, the relationship between the forms and matter is precisely Plato’s rejection of earlier Greek pantheism (referenced by Russell, 2008) and, more importantly, is nearly identical with the early Christian and Augustinian view of the relationship between God and creation. God is identified with nature as its guide and creator, but is not identified with nature simpliciter. This is a severe logical flaw. He has better luck with Pythagoras, though it is possible to see a similar objection arising. Nevertheless, it remains the case that this work also fails to do justice to pantheism. The greatest and most interesting approach to pantheism is the creation of Baruch de Spinoza. Here is an intelligent, logical and extremely interesting of the idea. Nearly all the works surveyed reference him, but only for a short time, as it is clear that few of the above authors have spent the large amount of time necessary to master the difficult system of the Dutch metaphysician. Spinoza is the greatest and most intelligent manifestation of the Pantheist idea, and hence, should be treated at length. Spinoza begins with the concept of Substance, which is to be identified with god. Substance is the â€Å"in itself. † That is, it is something that defines both affirmation, since affirmation requires negation (Parkinson, 1977, 451). Substance has gone beyond affirmation/negation because it is the whole, the everything. Hence,. Substance is its only name, and that incomplete. If substance in the Aristotelian sense is that which remains unchanging, that which survives change, for Spinoza, since all Aristotelian substances are part of a larger sphere of interconnections, the only real substance is Substance, or god. All things are determinations of God. There is no external reason for its existence. It is eternal causality. Of this Substance there are two Attributes, thought and extension, experienced as different but making reference to two forms of expression os substance relative to the limited sense experience of human beings. Further, these attributes are divided into a huge multiplicity of modes, which might be called all particular things, which are incomplete existences by definition. What is worth mentioning is that Spinoza holds that these attributes that subdivide into modes are not real. They are experienced, but this experience derives from the limited abilities of the human observer. But God in Himself is Substance that contains infinite attributes, only two of which are available to human beings. The attributes must be infinite because, given the nature fo Substance, there is nothing to constrain their development. A fully understood attribute of an infinite Substance is by definition infinite (Spinoza, 1927, 124-125). Science might struggle with this. First, it suggest that science is only a tiny form of knowledge in a sea of infinity. In other words, science can only deal with incomplete experiences relative to the limited observational capacities of the person. A â€Å"fact† in the truest sense of Spinoza’s pantheism is that which contains all reality, it must be Substance and only Substance. Anything less would be limited, and hence abstract, outside of its true context and contingent. Even Spinoza’s epistemology is limited in the sense that sense data is only the persistence of a pattern of perception. Hence, there is no direct human mode of perceiving God. God is full interconnectedness (the phenomenon, th international of Modes relative to both attributes, i. e. thought and extension make up the same Substance relative to humans) that has its root in the Substance itself (the noumenon, outside of experience) (Rocca, 1996, 192). Spinoza writes: Hence it follows, firstly, that there is no cause, either external to God or within Him, that can excite Him to act except the perfection of his own nature. It follows, secondly, that God alone is a free cause; for God alone exists from the necessity alone of His own nature. Therefore He alone is a free cause (Spinoza, 1927, 132) . Several things come from this: first, that human beings are determined, being themselves manifestations of the divine nature, containing in themselves the two attributes of thought or extension, the only two forms of experience permitted to man. That this determination is a good thing in that all things are pre-determined in the infinite nature of God, and hence, there is little to be done but live peacefully. But it should also be clear that there is no emotive attachment to this will-less and thought-less entity (Spinoza, 1927, 132). God is God only in that He is Substance. He is a metaphysical principle, not a cause of awe or worship. He is substance deduced logically in the following way: A cause of a thing must exist either inside or outside the object being caused. The reason for a square to exist is not to be found in the square itself. There must be a cause, then, outside it, a cause that has made it necessary to exist. Hence, Substance, which exists necessarily, is uncaused. This is because if Substance (that which survives all change) has a cause outside itself, then it is not Substance; that Substance must be it. Hence, there is a cause that is uncaused, Substance, and this is what survives all change, existing necessarily and the (logical) cause of all things (Spinoza, 1927, 124, â€Å"On the Essence of God. † also cf. Bennet, 1997) Friedrich von Schelling is another metaphysician who skirted the concept of pantheism, and is often considered one. Here we have a post-Spinozistic idea of the Spinozian concept of God, taking liberally from Spinoza and yet another interesting approach to the concept of pantheism. Schelling’s basic metaphysic is the spiritual exists as such in nature. Putting this differently, nature is the physical expression of the spiritual, but constantly limited by materiality. Even further, the pantheism derives form the idea that nature eventually creates the conditions necessary for the spirit, or conscious life. Here, the idea of spirit deriving from nature is posited from the circular concept that nature is spirit in expression in matter (Bowie, 2001). The development of the spirit in nature moves like this: 1. The absolute principle is the ground, just as in Spinoza, between the conscious and sub-conscious life, that is, sprit and matter respectively, since here, matter is merely â€Å"slumbering spirit. † 2. Nature and spirit are identical to Spinoza’s two modes, extension and thought respectively. Nature tends to objectification, while spirit tends to subjetification, but there is no ultimate distinction between the two. 3. These are held together in actual life by force: attraction/repulsion; light, gravity, while in spirit these forces take the form of knowledge, will, etc. 4. Both these forces are attributes (in Spinoza’s sense, not modes, since they are not â€Å"particular† and hence unreal, things) derive from the single Substantial source, not called Substance, but the Absolute. (Snow, 1996) 5. The movement of Substance then, is the reconciliation of opposites: thought and extension, matter and spirit, object and subject. Spirit will suffuse matter, matter will be saturated with spirit. This is the evolutionary picture of Schelling prior to Darwin (and is interesting on that account alone). In other words, Schelling differs from Spinoza in granting some limited â€Å"will† to the otherwise abstract absolute: the will for interpenetrating and the end of philosophy with a spiritualized matter. God will be present in matter in full when consciousness and matter merge, or more accurately, nature is suffused with consciousness. This paper has done two things: first it basically dispensed with the contemporary literature in pantheism is non-scientific and hence non-philosophical. Instead, this paper has briefly summarized two major pantheistic writers and metaphysician who are highly related in terms of basic ideas, Spinoza and schelling. In their view of pantheism, the absolute/substance is necessary existence. This is posited and proved because it is impossible to imagine a cause without origin, or a causal chain with ether no purpose or no beginning. Spinoza does not believe that causes exist eternally, but that Substance does: time, and hence, cause, is a human, mental construct. A serious, philosophical pantheism avoids the problems mentioned above, and posits a Substance or Absolute that is conscious experienced in forms or modes. All things are God in that all things are expressions of God. References: Russell, Sharman. Standing in the Light: My Life as a Pantheist. Basic, 2008. Harrison, Paul. Elements of Pantheism. Media Creations, 2004. Wood, Harold. â€Å"Practice of Pantheistic Mindfulness. † Pantheistic Vision 24, 2005. Steinhart, E. â€Å"Pantheism and Current Ontology. † Religious Studies 40: pp 1-18 Parkinson, HGR. â€Å"Hegel, Pantheism and Spinoza. † The Journal of the History of Ideas. 38, 1977: 449-459 Spinoza, Baruch de. Ethics and Other Writings. Joseph Ratner, Trans. Modern Library, 1927. Bennett, Jonathan. â€Å"Spinoza’s Metaphysics. † in The Cambridge Companion to Spinoza. Cambridge University Press, 1996. Pps 61-89 Della Rocca, Michael. â€Å"Spinoza’s Metaphysical Psychology. † in The Cambridge Companion to Spinoza. Cambridge University Press, 1996. Pps 192-267 Bowie, Andrew. â€Å"Friedrich Wilhelm Joseph von Schelling. The Stanford Encyclopedia of Philosophy. Stanford University Press, 2001. Snow, Dale. Schelling and the End of Idealism. SUNY Press, 1996.

Benefits Of The Olympic Games

Benefits Of The Olympic Games This essay will analyse the benefits of the 2012 Olympic Games which will bring and has brought to the UK. The London 2012 Olympic and Paralympic Games will bring a lot of benefits to the UK this essay intends to look at several of these opportunities; these opportunities include the development of sport, increase in tourism and increase in economic activity throughout the UK. (reference) Local authorities are already using the inspiration of the Games to spread wider social, economic and sporting benefits to their communities in the run up to the 2012. This will be the basis for a long term and UK wide legacy from the Games. The local Government Association has worked with local authorities to identify six UK wide legacy benefits: Inspiring children and young people Raising sporting game and influencing healthier lifestyles Volunteering Championing culture Generating and supporting tourism Boosting the local economy Many of these legacy benefits are already important to local communities, and local authorities are working hard to partners to improve performance and service delivery. The 2012 Games provide a unique catalyst to reach new groups of people, bring new partners to the table and help local authorities achieve existing targets. (reference) Hosting the 2012 Olympic Games and Paralympic Games is an opportunity to bring about positive change on a massive scale. The Games would not only add to the UKs nations sporting heritage but will also celebrate the diversity of the capital. It is a unique chance to showcase the best of London to the world and would generate huge benefits for all those who live or work in the city: Boost for Sport: The London 2012 Games will accelerate the delivery of new world-class sports infrastructure for the UK and London in particular. For example, after the Games, the athletics Stadium, Aquatics Centre, Velodrome, Indoor Sports Arena, Hockey Centre, and Canoe Slalom will all be available for use by the community as well as elite athletes. The 2012 Olympic Games is most likely to generate large amounts of interest from local authorities and businesses, this could possibly open up further links for the funding of sports at all levels. Based on the experiences of former host Olympic countries, funding for the development of elite athletes in the years running up to the Games would increase. Hosting teams for many months before the Games could also act as a catalyst for developing and refurbishing existing UK sports facilities. Boost for Business, Jobs and Skills: The hosting the Olympic Games will benefit every sector of the economy, this will provide a much needed boost for Business, more jobs will be created and skills will be gained from the 2012 Olympic Games. Thousands of UK businesses will be used to deliver the Games for example catering, manufacturing, construction, services etc, and creating valuable opportunities for businesses. An example such as the Sydney Olympic Games showed that business in Australia won over a billion pounds in contracts for the Games (PWC report), more than 200 million from regional businesses and over 55,000 people receiving employment related training. Londons tourism industry will receive a significant boost, not just for the duration of the Games but in the run up to and long after the Games. An example of how an area can benefit from the 2012 Olympic Games is how Dorset, Weymouth and Portland has increased their local visitor economy. They will host the Sailing events in 2012. The Spirit of the Sean festival, which celebrates the areas close relationship with the sea, has completed its second year and is going from strength to strength. Last years festival showcased around 50 activities at 27 venues. The festival has a range of cultural and sporting events which include water sports competitions for all ages and of all abilities, concerts on the beach, the Dorset seafood festival, the Moving Tides Childrens Procession and the Henri Lloyd Weymouth Regatta. These events all in turn encourage people to be more active and to get involved with the towns cultural opportunities. People who attend these events spent on average  £68, w hich has provided a boost in the economy. Dorset, Weymouth and Portland will be using the councils status to share with other local authorities how to secure a tourism legacy from the London 2012 Olympic Games. A London Games would also provide many new learning opportunities for Londoners to train and develop their skills. The Olympic park which is being built will also create thousands of new jobs. The running of the 2012 Olympic Games will require around 70,000 volunteers, this is set to cause the largest volunteer recruitment force in the UK. This will lead to a volunteering boost in general sports and specific sports. An example of this is Kent County councils aim to secure maximum benefit from the 2012 Olympic Games by using the Kent event team, whom are in partnership with the Kent county council and the voluntary sector, and the use of the Games as a key focal point to employee volunteers for sporting events and leisure and cultural activities across the UK. Another example is the Voluntary Action Maidstone which is the lead voluntary sector partner. In its first 18months, a manager and voluntary support staff were appointed, 700 volunteers and 40 organisations were registered and 20 events were supported. These included sporting, cultural and artistic events and festivals. The Kent event team aims to create a network of volunteers for wider community use who are available to volunteer after the 2012 Games, encourage people who are unable to make a long term commitment to volunteering, and help support the volunteering sectors to develop good practices with regard to community events. Various test events will be held during the run up to the 2012 Olympic Games, some of these test events include world championships. International Sports Federations will hold European and world championships and other large scale events in the UK, this will allow their athletes to acclimatise with the country. This will have a positive effect to the UK in the sense that it will deliver several million pounds to the UK for example Birmingham City Council concluded that hosting of the World Indoor Athletics Championships and World Badminton Championships in 2003 had a positive economic impact of  £3.5M and  £2.5M respectively. (reference) Another example Is in the Australian Olympic Games 125 teams from 39 countries went through training before the Games in different locations across Australia, the training estimated to have benefited the states economy by about 70 million (PWC, 2002). Creative Capital: Creative Industries is the fastest growing sector in London, responsible for one in five new jobs in the capital. An Olympic cultural Programme is a major aspect of the Games. From concerts in the parks to street theatre, the Games would provide a platform for talented artists in London to showcase their skills to a global audience. Boosting Health and Sporting success: Hosting the worlds greatest sporting event given the passion, excitement and interest likely to be generated would boost Government initiatives to promote participation in sport and physical activity at all levels. Physical Change: The Olympic Games would bring forward one of the largest and most significant urban regeneration projects ever undertaken in the UK, through the transformation of the Lower Lea Valley in east London. The area has already been identified as a priority by the Government, the Mayor and the LDA. Thousands of athletes, officials, spectators and media will be travelling to the Games and in order to achieve a smooth running transport system London will be improving several of the transport links to the east of London. Some of these improvements include, Channel Tunnel Shuttle link from Stratford to Kings Cross and  £1bn improvement to London East line. (reference) The creation of the Olympic Park will create more green space, maintain local biodiversity, and improve the soil, water and air quality in the London area. The ways in which this will be achieved is the waterways and canals of the river lea will be made wider and will be cleaned, and the levels of the water will be renewed to achieve a new wetland habitat for wildlife, the park will also be planted with native species some of these include oak and ask, this will provide a home for wildlife in the middle of the city, by improving the park it will encourage birdwatchers and ecologists to come and enjoy the area. The London 2012 Olympic Games would set new standard for recycling of natural resources, consumption and sustainable production. They will achieve this by†¦. During the Games The Olympic Village will be used for officials and athletes to stay during the Games and then after the Games the renovation of the Olympic village will take place, the village will turned into 5,000 homes. Houses will also be built on the Olympic park site after the Games as well as new amenities for the local community which will include shops, restaurants and cafes. This is one of the key benefits of the 2012 Olympic Games. The ODA, the Olympic delivery authority, has an equality and inclusion programme, the ODAs equality and diversity strategy and the ODAs three equality schemes covering race, disability and gender equality, the aim of this programme is to create an inclusive Games, which promotes good equality practices and access for all. This mission extends the aims of the ODA beyond these statutory duties to include the newer equality strands of age, religion and sexual orientation and other inclusion issues centred on socio-economic, culture and political disadvantage. The regeneration of the area will have many social and economic benefits. It will have a positive impact on local communities in different parts of the UK and example of how they are managing to achieve this is having a fair, open and a wider range of diverse suppliers the way in which recruiting and managing employees is done fairly, this helps to promote equal opportunities to all and eliminate discrimination in the workplace. The ODA are also working with partner organisations to encourage women, black, Asian and minority ethnic people and disabled people, to train and apply for jobs in construction and other areas. The 2012 Olympic Games is set to be inclusive for people of all cultures, faiths and ages, and fully accessible to disabled people with a wide range of impairments. The ODA will also provide a transport network that will be accessible and give everyone the opportunity to enjoy the Games, as well as leave a lasting legacy for equality and inclusion. The London organising committee of the Olympic and Paralympic games plan to get women, disabled people and BAME people actively involved in sport by raising awareness so a wider range of people watch the 2012 Games and influencing key partners to train young people in sports volunteering, coaching and other related skills. They will also challenge discrimination in sport by spreading positive messages, supporting programmes that promote equality and making full use of the London 2012 Paralympic games to inspire disabled people. They hope that with the right approach that the 2012 Games will benefit everyone.

The US and UK takeover regulations

The US and UK takeover regulations A takeover of a public company is the purchase of one company whose shares are listed on a stock exchange by another. Empirical evidence on takeovers suggests that they generally create value. The question is why have the UK and U.S- two countries with ostensibly similar systems of corportate governance taking different routes when it comes to regulating takeovers. A rich analysis draws from each countrys historical development, focusing on the shareholder-oriented regulations in the UK and the defence managerial tactics employed in the U.S. This paper would critically analyse the views of the writers of the Divergence of U.S and UK Takeover Regulation written by Armour and Skeel JR, both well seasoned Professors of Law, a thorough analysis would be made of hostile takeovers and the reasons why takeover tactics in the UK is regarded as a better option. An analytical framework would be used explain the diversity in the systems of takeover in the UK and the U.S. subordinate lawmakers such as Judges have had the herculean task of filling the unintended vacuum and consequences of legislation in the two countries that had other objectives at the time of enactment. An examination of the way regulations took shape in the UK and the U.S as the goal is to gain an understanding of the defensive tactics adopted and used frequently in the U.S but is frowned at and has dire consequences if adopted in the UK. Earlier case examples from each jurisdiction would be analysed to gain understanding of why different takeover regulations are used. In the UK, defensive tactics by target managers are prohibited, whereas in the U.S, Delaware law gives managers a good deal of room to manoeuvre  [1]  . The primary focus of this essay is to provide a simple yet thorough framework to understanding defence tactics, what it is; why it is so successful in the U.S and is prohibited in the UK. Clearly the two ways of takeover regulations appear to work fairly well in each jurisdiction and despite the authors of the articles view one must never forget that because the UK methods seem more share holder oriented and works very well, it does not mean there is any anything wrong with the method used in the U.S. In a takeover bid, accounting and law firms are hired to conduct Due Diligence- Lawyers review contracts, agreements, leases, current and pending litigation and all other outstanding or potential liability obligations so that the buyer can have a better understanding of the target companys binding agreements as well as overall legal related exposure. The facilities in the company and capital equipment also need to be inspected so as to avoid unreasonable expenditures in the first few months of acquisition  [2]  . The first section of the essay would look at an overview of the history of business law development and corporate governance in the UK and the U.S. the takeover development and institutional responses to them. The second part looks at the US and UK takeover regulations and their differences. Also legislation that have been implemented and the fact that despite legislation, subordinate lawmakers make rules that govern the process of takeovers. Who are these subordinate lawmakers and why do they appear to have so much discretion as to what becomes a rule? They include a diverse range of characters from Judges to interest groups (Institutional investors). The identity of the subordinate lawmaker, in turn has major consequences for both the substance and the enforcement of the regulatory rules  [3]  . Various case examples would be used to explain the difference in takeover methodology in the UK and the U.S, objectives of takeovers, the disciplinary hypotheses of the importance of ta keover regulations. Finally, proposed reforms in the US and UK and a conclusive summary on the issues of hostile takeover tactics. History The UK and the US are distinguished from other jurisdictions based on their high levels of takeover activities; in contrast Europe has a little or no market for corporate control (Franks and Mayer, 1996). The UK does not have the federalist structure of the U.S which does not allow room for corporate managers to exert influence. In the U.S the Delaware jurisdiction became the sole source of rules on takeovers more so, hostile takeovers. The U.S takeover regulations give target managers discretion to defend a bid whereas in the UK the shareholders make the decision. Delaware have a monopoly and is home to about 60% of the largest corporations in the country. Due to the amount of tax and other benefits that Delaware State enjoys from these corporations the State is attentive to the managers needs and the state lawmakers have an incentive to keep the managers content. The Legal rules have to be amenable so that unprecedented cases can be brought cheaply and quickly after has been a chan ge in business practices so as to allow the precedent cases to be developed and updated. The Delaware takeover doctrine was firmly established in the 1990s- that US institutional investors became a significant force in corporate governance  [4]  unlike their UK counterparts that embraced the importance of the concept of institutional investors. Corporate takeovers tend to improve not only the stock prices of the companies involved but also the stock market overall. Although there is a substantial increase in the targets companys stock price, the outcome for the acquirer and the market over time however is considerably negative. Also some ill-fated takeovers turn into an embarrassment for the parties involved for example the merger in 1996 of San Francisco banking giant Wells Fargo and its Los Angeles rival First Interstate Bancorp in an $11.6bn hostile takeover, the merge led to many of the latter companies executives leaving, account errors appeared in the companys account and the problems were visible to the customers. In the UK, lawyers play a relatively little role in takeover bids, complaints and law suits are made to the Takeover Panel located in the London Stock Exchange building. The Takeover Panel includes representatives from the Stock Exchange, the Bank of England, major merchant banks and institutional investors  [5]  . The Takeover Panel is a body that administers a set of rules known as the City Code on Takeovers and Mergers. The Panel and the rules were self-regulatory until around 2007 when the EU directives have been implemented into the UKs regulations and have a statutory underpinning designed with the objective of maintaining the characteristic features of the Panels approach, which is based on self-regulation. In the U.S however, takeover regulations are moderated principally by the Securities and Exchange Commission which ensures that disclosure and process rules are adhered to. A managers response to a takeover bid in the U.S is regulated primarily by the Delawares Chancer y Judges and Supreme Court- the key players here are lawyers and judges. U.S takeover Takeover offers are regulated under the Williams Act Amendments to the Securities and Exchange Act (SEC) 1934. The act was created to provide governance of securities exchange in the stock market, all the companies listed on the stock exchange must follow its requirements. The SEC is regarded as relatively share-holder friendly, however managers are known to sometimes adopt a hostile approach to takeovers and they adopt defence mechanisms such as poison pills or shareholder right plan which are designed to ward off a hostile bidders stake particularly if the bidder acquires more than a specified proportion of target stock, usually 10-15 percent. The poison pill is a defence tactic that allows companies to thwart hostile takeover bids from other companies, examples of the poison pill include Flip-over Rights Plan, Flip-in Rights Plan, poison debt, voting poison pill plan etc. The managers of a company that use the poison pill defence and a staggered board of directors have almost complete discretion to resist an unwanted takeover bid, the poison pill is a method that is slowly declining in the last couple of years. The U.S tender offers are generally not share holder friendly, in the case of Atmel Corp a maker of microchips used in video game controllers, successfully defeated a challenge by investors using the poison pill tactic. Some shareholders who sued over the failed buyout by Microchip Technology Inc stated that the revisions made by Atmel were vague, a Delaware state judge rules in Atmel Corps favour. State statute such as Section 203 of the Delaware General Corporation Law furthers the federal policy of investor protection. It was enacted to protect shareholders from the coerciveness of two-tier offers by preventing the offer unless the targets board of directors and in some instances the shareholders approves, the legislation has been successful in stopping such coercive practices. Section 203 also gives target boards some authority in resisting unwelcome, under priced tender offers that are not beneficial to shareholders. In the BNS Inc v Koppers Co., the U.S District Court explained that Section 203 does not stop the aims of the William Act even though it may give target boards significant advantage in preventing un-solicited takeovers. To the contrary, the statute may have substantial deterrent effects on tender offersà ¢Ã¢â€š ¬Ã‚ ¦so long as hostile offers which are beneficial to target shareholders have a meaningful opportunity for success. Section 203 does not have to let bad offers succeed to be constitutional, and in fact, if it did let bad offers succeed, it would frustrate, and not further, the Williams Acts purpose of investor protection. In BNS , the district court concluded that, on this record, the statute appears to offer hostile bidders the necessary degree of opportunity to effect a business combination and upheld the statute  [6]  . Another example is the recent April 2011 hostile takeover battle in the U.S between Tenet a hospital chain resisting a $7billion takeover by rival Community Health Systems. Tenet filed a lawsuit stating serious allegations that Community Health Systems is an unfit acquirer because the company has been systematically defrauding Medicare, evidence to support Tenets claim was provided. Not only is this allegation posed to resist a takeover, it can also potentially damage the reputation of Community Health Systems. This case ranks high in the pantheon of aggressive counter punches. The health care in the U.S remains the most targeted industry since 2009 with $179.1bn; accounting for 22.9% of total U.S targeted volume  [7]  . Another case example was AOLs purchase of Time Warner for $164bn at the height of the internet mania; it remains the largest corporate merger in American history  [8]  . Bidders are more likely to enter into negotiations with the targets board which results in a friendly transaction than them making a hostile offer directly to the shareholders. UK Takeover In contrast to the U.S, the UK takeover regulation is shareholder oriented. Managers in the UK are not permitted to make use of any frustrating defence tactics when there is a takeover bid without the shareholders permission unlike their U.S counterparts. The Takeover Code only becomes relevant when there is a bid therefore managers can take advantage of less stringent ex ante regulations well before any takeover bids come to light  [9]  . J.Armour, D.A. Skeel, JR, in their article; The Divergence of the U.S. and UK Takeover Regulation state that the UKs ban on defensive tactics by managers clearly makes it easier for hostile bids to succeed. It is bewildering to find that while the U.S adopts defence tactics measures, figures show that hostile takeovers are less likely to succeed there than in the UK. Case Examples in the UK In Jan 2010, Cadbury ended its nearly 200 years of independence after it was acquired by Kraft, a U.S food giant for 11.9bn pounds. The acquisition led to media frenzy and revived concern over the UK slowly becoming a so-called branch office for foreign companies, the UK Government was powerless to protect Cadbury, a heritage and one of the oldest companies in the country from foreign investment. The financial times stated in a article that erecting barriers is not the answer, the key to solving the problem of foreign business moving their head offices to more favourable jurisdictions is to make Britain an appealing business location, with a skilled workforce and a predictable tax regime. Another case example is the Vodafone-Mannesmann acquisition in 2002 which is still referred to a lot by economists and critics. There have been concerns that hostile takeovers can take place provided that there is a simple majority vote from shareholders. The Government wants reforms to change this to two-thirds of shareholders and the bidders must be subject to the same rules. Figure 1 below shows that the performance effects of takeovers differ by industry, some industries such as insurance companies have a higher number of takeover bids as opposed to banks that have a lower number. Figure 1 Beneficial Ownership of UK shares end-2008 (Source: Office of National Statistics, Share Ownership 2008) Difference between the US and UK takeover regulations The most significant difference between the two countries is not the substance but the mode of regulation. The U.S depends on formal law such as the Delaware law while self-regulation is the norm in the UK. In the Kraft-Cadbury takeover in the UK there was an outcry for change in the regulation as Cadbury was unable to defend itself to the same extent as a US company in similar circumstances, control decisions were made not by the directors but by short term investors. Leading U.S law firms such as Wachtell, Lipson and Cravath that specialise in Mergers and Acquisition (Hereafter MA) oriented practice generate significantly more revenue per lawyer than their UK counterparts. Importance of Takeovers- Disciplinary Hypothesis A takeover is sometimes used as a measure to restructure poorly performing companies. Critics and economics have long argued that the likelihood of competition in capital markets and the threat of a takeover is an incentive to discipline self-interested managers. Many writers have suggested a ban on the defence takeover tactics used in the U.S, such as the poison pills, golden parachutes and white knights- stating that these tactics more often than not are used purely for the managers/directors self interest. There have been numerous attempts by the Congress to set up legislative measures to prevent this out right abuse of power by the company managers and to protect the interests of the shareholders. There are however two hypotheses for the purpose of these defences: the shareholder hypothesis (SIH) and the management entrenchment hypothesis (MEH). The SIH is used purely to keep and satisfy the interests of shareholders whilst the MEH is used by the managers/directors of the company intended to be takeover to act in the interest of the shareholders for fear of losing their jobs if the takeover is successful, the end result of the MEH is usually that the shareholders would lose out on takeover premiums that the offeror would have paid. This leads one to question whether the managers pursuing their self interests is a breach of their fiduciary duties to the company and its shareholders, as they have a duty to act in the best interest of the company first and foremost. The managers may use the argument that the two hypothesis work together and that the main reasons for the defence tactics is not for their self interest but to maximise the wealth of the shareholders, a valid argument I daresay, both conflicting views are obviously utmost in the strategies of the management in a takeover power tussle. In the U.S the courts when determining whether a company management is in breach of its fiduciary duties look at the Business Judgement Rule- which provides that a court should evaluate decisions by directors to employ an anti-takeover defence in the same way as they would evaluate any other business judgement  [10]  . Basically anti-takeover defence tactics must be reasonable in relation to the threat posed and made in good faith. If the companys corporate value or shareholders interest could be harmed due to the acquisition of its shares by a specific person or group, the company needs to take substantial measures to raise corporate value and secure shareholders interests to the extent permitted by laws, regulation, and the companys Articles of Incorporation  [11]  . In the UK, the takeover code states in Rule 19.1 that public criticism is one of the disciplinary measures available to the Panel. Rule 19.1 states that each document or advertisement published or statement made, during the course of an offer must be prepared with the highest standards of care and accuracy and the information given must be adequately and fairly presented  [12]  . For example in the Kraft takeover case of 2010, the company promised to keep operational some Cadbury factories, but failed to do so, this led to a public criticism from the press and the Takeover Panel. OBJECTIVES OF TAKEOVER Takeover or merger, in practice, depends upon the motives of the persons behind such move. Generally, the following types of decision limit their choice for a particular firm in which takeover or merger activity could be organised: (1) Acquisition of shares in the target company; (2) Acquisition of the assets of the target companys undertaking; (3) Acquisition for full or part ownership of the target undertaking; (4) Acquisition for cash or for shares or other securities of the Offeror Company or combination of cash and variety of securities; There is not one single reason for a takeover but a multiple of reasons cause which are precisely discussed below: Synergistic operating economies: It is assumed that existing undertakings are operating at a level below optimum. But when two undertakings combine their resources and efforts they with combined effort produce better result than two separate undertakings because of savings in operating costs, combined sale offices, staff facilities, plant management etc which lower the operating costs. Thus the resultants economies are synergistic operating economy. These gains are most likely to occur in horizontal mergers in which there more chances for eliminating duplicate facilities, vertical and multinational mergers do not offer these economies. Diversification: Takeover are motivated with the objective to diversify the activities so as to avoid putting all the eggs in one basket and obtain advantage of joining the resources for enhanced debt financing and better service it shareholders. Such takeovers result in conglomerate undertakings. But critics hold that diversification caused takeover of companies does not benefit the shareholders as they can get better returns by having diversified portfolios by holding individual shares of these companies. Taxation advantage: Takeover take place to have benefit of tax laws and company having accumulated losses may merge with profit earning company that will shield the income from taxation. Growth advantage: Takeovers are motivated with a view to sustain growth or to acquire growth. To develop new areas becomes costly, risky and difficult than to acquire a company in a growth sector even though the acquisition is on premium rather than investing in a new assets or new establishments. (http://jurisonline.in/2011/03/takeover-a-critical-analysis/ Assessed 12th April 2011) Reforms in the UK There was an urgent need for reforms in the UK takeover regulation after acquisition of Cadbury by Kraft. The following are some of the proposed reforms. Proposals to give target companies more protection under the Takeover Code The Government wants the simple majority vote by shareholders to be changed to a two-thirds of shareholders in other to ensure that as many shareholders as possible are supportive of the takeover. The prohibition of any offer related arrangement e.g implementation agreements Reducing the put up or shut up deadline from 2months to 28days- This means that a potential bidder must announce a firm intention to make an offer, declare no intention or ask for an extension of the deadline. If no bid is announced the bidder is excluded out of the market for six months. There have been criticisms that the 28day period is not enough time for bidders to undertake due diligence and arrange financing. Detailed disclosure of advisory fees- there is no requirement at the moment under the Takeover Code for advisory fees to be disclosed. It is intended that any offer-related fees be disclosed in the offer document and targets response. This includes legal advice, accounting and consulting advice, broking advice etc. The proposal disclosure changes are not controversial and in fact tally with the current system in the U.S. Greater disclosure of debt facilities and other instruments to finance an offer- a bidders financing arrangements should be disclosed in any offer documents. This need for transparency and accountability may be prompted due to the recent financial crisis in the UK Provision of better protection of the interests of employees of the target company These proposals were made in March 2011 and a consultation period is open until the 17th of May 2011 after which the UK Panel will then issue a statement with the final version of the amendment, the amendments will be adopted into the UK Takeover Code later in the year  [13]  . Conclusion Even before the financial crisis there have been fundamental reassessments of the value of takeovers in the UK and the U.S. Since the financial crisis most board of directors and managers have been more concerned with running their businesses and staying afloat than with chasing expansion through takeovers. This factual point is true when the probability of a successful merger is far less certain, as in hostile takeover attempts. A hostile takeover presents executive board leaders with unique organisation and people challenges. It is often very difficult to overcome the challenges of acquiring and integrating an organisation and people especially after a hostile takeover. Times like this need a higher level of strategic thinking, flexibility and innovative problem solving  [14]  . This paper finds that the UK takeover regulation despite its numerous advantages is prone to hostile takeovers due to its compliance with upholding the interests of shareholders, while this hostile takeovers act as a form of disciplinary function by restructuring poor performing companies and improving their performance, evidence above stated shows that hostile targets in most cases experience a significant decline in profits and share returns in the first year of acquisition. Despite the criticisms of the U.S system of regulation, hostile takeovers are in decline due to the level of discretion given to the executive directors and managers by the legislation that provides antitakeover regulations that are enshrined in the corporate charters and/or state legislation. Also in a self regulated system like the UK, institutional investors who own majority of the shares in UK quotes companies shaped the Takeover Code. BIBLIOGRAPGHY http://www.guardian.co.uk/business http://www.mallesons.com/MarketInsights/marketAlerts/2011/UKPanel-Takeover-Code-Reforms/Pages/default.aspx John Armour, Jack B. Jacorbs Curtis J. Milhaupt, The Evolution of Hostile Takeover Regimes in Developed and Emerging Markets: An Analytical Framework, 52 Harv. Intl L.J. 219 (2011) J Coffee. Regulating the Market for Corporate Control: A Critical Assessment of the Tender Offers Role in Corporate Government, 84 Columbia Law Review 1145 (1984), copyright Columbia Law Review Association, Inc. T I Ogowewo. The inequality in takeovers, Journal of International Banking Law and Regulation 178 (2008), reproduced by permission of the publishers, Sweet and Maxwell Ltd Dolbeck, A. Hard to Swallow: Poison Pills on the Decline Weekly Corporate Growth Report, 22nd March 2004, 1-3 Hermalin, B.E Weisbech, M.S., 1991. 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