Blind Ambition Leads to One’s Destruction Essay

Talmud once said, â€Å"Ambition destroys its possessor. † People who are overly ambitious will ultimately be destroyed on the way to the top. It is a warning that those who are not humble will stumble on their way to greatness. He enlightened a major event by one of the world’s most well-known writers, William Shakespeare. There were many conflicts in Shakespeare’s tragedy, Macbeth, but one of the major conflicts was Macbeth’s determination to become King. Macbeth was a brave and courageous soldier who, unfortunately, let his blind ambitions lead to his downfall in the end. Three primary reasons this happened was because of his wife, his gluttony for power, and his betrayal toward his friends. The first example is Lady Macbeth, otherwise none his wife, who wants power and will do anything to get it. The second example is Macbeth’s growing lust for power after he kills the king. The last significant example is when Macbeth kills his friends and their families. His wife, his gluttony for power, and the betrayal of his friends exemplify of what it truly means to be blinded by a want for something that is potentially untouchable in the end. First off, Lady Macbeth is Macbeth’s sneaky wife who convinces him to kill the king. King Duncan was a trusting man who loved and respected Macbeth. Lady Macbeth’s thirst for power all started when she received a letter from her husband. The letter mentioned how the three witches told Macbeth that he was going to become Thane of Cawdor and now he wants to celebrate, but doesn’t want Lady Macbeth to tell anybody. After she reads the letter, she looks up and says â€Å"Yet do I fear thy nature; /it is too full o’ th’ milk of human kindness/To catch the nearest way: thou wouldst be great, /Art not without ambition, but without/The illness should attend it† (1. 5. 3-7). Although Lady Macbeth didn’t have any hard feeling towards Duncan, she wanted to be queen. She was willing to do anything to achieve her goal. Overall, even though she knows her husband wants to be king, she thinks he is too weak to actually pursue what is wanted. Moreover, Lady Macbeth’s thirst for power fed Macbeth’s want for power. At first, Macbeth was very hesitant and scared to kill Duncan because he thinks that there will be consequences awaiting him in the next world. â€Å"If it were done when ’tis done, then ’twere well/It were done quickly. â€Å"If the assassination/Could trammel up the consequence, and catch/With his surcease/success; that but this blow/Might be the be-all and the end-all here, /But here, upon this bank and shoal of time, /We’d jump the life to come† (1. 7. 2-7). More specifically, Macbeth says that if he could achieve his goals merely by killing Duncan, without any consequences here on Earth, he would risk the dire consequences that could await him after death. Furthermore, Duncan was his friend who had high respects for him as a soldier. After Macbeth killed Duncan, his lust for power grew more and more with each passing day. Furthermore, Macbeth’s lust for power led to the betrayal of his friends. One day, while Banquo was in the forest, Macbeth sent 3 murderers to assassinate him. Banquo was Macbeth’s best friend, a brave and noble general. His children, according to the witches’ prophecy, would inherit the throne of Scotland. Macbeth murdered them to eliminate threat. Banquo was also ambitious like Macbeth, but those thoughts never translated into actions. In addition, Macduff was a Scottish nobleman who was the leader of the crusades. He was opposed to Macbeth becoming King from the very beginning. The witches told Macbeth that Macduff had gone to England and to get back at him, Macbeth killed Macduff’s wife and son. The crusade’s mission is to place the rightful king, Malcolm, on the throne, but Macduff also wanted revenge on Macbeth. â€Å"If thou beest slain, and with no stroke of mine, /My wife and children’s ghosts will haunt me still† (5. 5. 18-19). Macduff also wants Macbeth’s head because he thinks his wife and kid’s ghosts will haunt him forever if someone else kills Macbeth. Even though ambition is a good quality to have, it can still have tragic results if it becomes the center of a person’s life. In Macbeth’s case, there were three many concerns that caused Macbeth’s downfall Lady Macbeth, a growing lust for power, and the betrayal of loved ones. Lady Macbeth is a deeply ambitious woman who thirsts for power and will do anything, even corrupt her own husband to obtain the position as the queen. Macbeth’s want for power came from his wife’s lust for power. The gluttony for power that was caused by Lady Macbeth led Macbeth to do murderous things such killing the king and his best friend. Ultimately, sometimes it’s not always the goal that leads to one’s destruction, but the path they choose to make it happen.

Mayan Civilization with citations!

The Mayans were an extremely advanced Micronesian civilization. They were located near modern day Belize, Guatemala, Honduras, El Salvador and Mexico,l on the Yucatan Peninsula. They were skilled in art and architecture. This is evident by the many pyramids they constructed. 3 This civilization also utilized a great deal of technology. They built magnificent cities with huge stone temples and pyramids. They also developed an advanced system of writing, mathematics and astronomy, which they used to calculate an curate calendar. Another example of how the Mayans were advanced is their agricultural technology. For example, they used the slash and burn method on their crops in order to clear plots of land and fertilize the soil. 2 Mayans used certain building techniques which is a part of what makes their civilization unique as well as successful. Because there were such large supplies of limestone and flint available, plaster and cement was easily produced. This allowed the Mayans to bu ild impressive temples and stepped pyramids.Flat roofs made of cedar beams overlaid with mortar were also common in this area, along with murals often displaying religious figures in vibrant colors. L Certain cities were particularly famous for this typical Amman architecture. One of these cities is Diktat. It was the largest city in the empire, home to over 100,000 people. There were eight pyramids built in the city. 2 This civilization also had its own interesting religious beliefs. The Mayans were polytheistic and worshipped hundreds of gods, each of whom played a different role n the creation of the earth.The religion seems to have been made up of thirteen heavens and nine underworlds ruled by the nine lords of the nights, whose names are not known. Of all of the gods worshipped in this civilization, the sky god was the most important to the Mayans. The god of the sky was also the most frequent to appear in their ancient art, which included sculptures, ceramics, murals and archi tectural structures. It is evident that many of the structures built by the ancient Mayans were built in honor of the gods.Certain compounds were built with large open areas, from which all the citizens could view religious ceremonies, such as sacrifices that were held on elevated platforms. L The Mayans had an advanced language that they used to communicate with each other. Their alphabet was composed of glyphs rather than letters. 2 Not all inscriptions of this text can be deciphered yet. However, analyzing the written language became easier in the 1950 when a Russian ethnologist named Yuri Valedictorian Morrison proposed that the Amman script was at least partly phonetic.His theory was later proved correct, which was a breakthrough for all those studying this ancient civilization. 4 Another impressive feature of the Mayans was their strategic military. The empire was once thought to be peaceful, and held military forces solely for defensive purposes. Eventually, population growth increased competition with others, resulting in heightened levels of violence. Military action became involved in order to gain political control of people, land and resources. Some scholars have suggested that the capture of sacrificial victims was another driving force behind warfare.Mayans also had a decentralized government which made it more difficult to defeat, in turn protecting the nation from becoming over-ruled. 6 Overall, the Mayans were an extremely successful civilization. They made many significant discoveries in math and science. They also flourished artistically. After experienced a golden age lasting five centuries (300 to 800 AD), the Mayans suddenly and mysteriously abandoned their cities. The cause could have been from disease, natural disaster, deforestation, or even revolt but it is unknown to this day.

How to Write Carnegie Mellon Universitys Essays 2018-19

With its application pool rising to record highs and an acceptance rate that keeps dropping (2017 saw a 10.8% acceptance rate spanning its seven colleges), Carnegie Mellon University is amongst the most selective institutions of higher education in this country. As the university becomes more selective, its supplemental essays provide an increasingly vital opportunity for you to differentiate yourself from the pack. For the 2018-2019 admissions year, CMU has announced that it will be using three entirely new prompts. This is your chance to show them something they’ve never seen before! Below, we’ll go into detailed explanation of what the prompts are asking—with tips, hints, and examples provided to ensure that you stand out. What CMU has done here is take a standard question— why this major —and ask it in a manner that will make you answer it a certain way. While the typical ‘why this major’ prompt gives students the freedom to focus on the past or future (i.e. how you developed an interest or what you plan to do with the major), this version of the question is asking you to focus on the former. A successful execution of this prompt will: 1) elaborate on the path that led you to choose your major and 2) show the adcom why you deserve to pursue this major at their school. The latter doesn’t necessarily need to be explicit. If you can do part one while showing drive, curiosity and all those good things that adcoms love to see, consider part two completed as well. Let’s dive in. There are essentially two methods for completing this prompt. The first is a narrative arc or anecdote. If there’s a moment where you said to yourself â€Å"this is going to be my major,† that could be a great story to tell! Perhaps you were in a robotics competition and after weeks of toiling, your robot finally moves. And that’s when you knew, you knew beyond a shadow of doubt, this was the path you needed to pursue. Here’s what telling that story does. First, it shows tenacity—even after weeks of failure, you didn’t give up. Second, it shows innovation. And third, CMU just happens to be known for offering a robotics major, so even without being explicit, you just told the adcom exactly why you belong at CMU! Stories are a great method for drawing in your reader and creating pathos. The trick, however, is to not get so caught up in the narration that you fill your 300 words without actually saying anything. If you’re going the anecdote route, ask yourself the following questions: Does the story I just told show why I’m passionate about the major I’ve chosen? Have I showed that CMU is the right place for me? Don’t say you want to pursue a major in underwater basket-weaving if CMU doesn’t offer that (just an example, but you get the idea). Do mention, either briefly or implicitly, how CMU would allow you to continue pursuing and developing your passion. If you can honestly answer yes to those questions, then you’re all set! Let’s move on to the second method of answering this prompt. I call it the brag sheet method. You may not be able to fully answer the prompt with just one moment or story. That’s okay! Not everyone has that kind of story to tell. An alternative is to briefly list key moments, progressions, or accomplishments leading up to your decision. Here’s an example: â€Å"From writing short stories as a seven year old to winning my first prose contest in high school, creative writing has been a part of my life for as long as I can remember.† Unlike the narrative arc method, this example is neither a story nor a specific event. Instead, it shows how creative writing has been pivotal to my life for years. Though arguably less compelling than a story, this method has the bonus of demonstrating growth, long-term commitment, and development. Being that CMU is one of the only universities to offer a BA in creative writing, it also shows why I’m applying. This same method will work if you choose to talk about who or what inspired you. However , this comes with a warning. If you choose to talk about a person or work that inspired you, ensure that you don’t only write about said person or work. If the adcom learns more about the Pulitzer prize winner whose work inspired you than they do about you and your work, reassess! Submit your essay and we’ll get back to you with helpful edits. This prompt is a gift. Within the confines of the word limit, the options are endless. This is your chance to show the adcom exactly what makes you so special. But don’t get bogged down by the possibilities! So how do you know what’s worth writing about? Is there something you mentioned on your Common App that you feel the need to elaborate?   This should not be even remotely similar to the subject of your personal statement. Think of your essays as a portfolio; they should be complimentary without being redundant.  Ã‚   For example,   if your passions are science and wildlife, and your personal statement is about wildlife, make this prompt about science. Is there something you haven’t been able to mention anywhere that you’re dying to mention?   Let your personality shine through. Whether your passion of choice is volunteering with animals, taking apart computers, or almost anything else, it can have a place in this prompt. However, it shouldn’t be so random that it doesn’t say anything about you as an applicant. Here’s a good idea: â€Å" I collect postcards from all over the world because I love learning about new cultures.† See how this paints a picture of a student eager to learn and expand their horizons? Now here’s a bad idea: â€Å"I like watching Netflix in my free time.† Does that tell the adcom something that helps them envision a contributing member of the CMU community? Neither of the above? Just write about something you love. If you have a topic that you could talk about for hours, then here’s your place.   Note: this has to be entirely different than your answer for the previous prompt. The scoop : use this as an opportunity to show your personality and your passion. The caveat: don’t get overwhelmed by the possibilities. Narrow in on something pivotal to what makes you you, and make sure it still shows CMU why you’re a fit. The ideal : if you have a story, accomplishment, or passion that shows you possess drive, an entrepreneurial spirit, or a similar embodiment of the CMU spirit, here’s the place to prove it. What not to do: Don’t be redundant. If you’ve already said it in another CMU essay or in your personal statement, don’t say it again. This prompt is clearly one CMU values highly. They give you an additional 50 words, provide an introduction for the prompt, and attach more than one question. Spoiler: they care a lot about your answer. Let’s break down what this prompt is really asking because there are a lot of extra words. The overarching goal for this essay is to prove to CMU that you deserve their â€Å"diverse community of scholars, artists, and innovators.† They’re proud of their network. Why do you deserve to be a part of it? If offered access, what do you have to offer to their collaborative environment? These are all implicit questions, meaning they may not outright ask them, but they secretly want them answered. The only efficient way to ensure you account for all aspects of the prompt is to focus on one instance or example. Whether this is a long-term commitment (the teamwork you’ve encountered while playing football for the last four years) or one specific event (the time your group was falling behind on a school project, so you helped delegate roles to pull everyone together), the idea is the same. But don’t just start listing stuff. Here’s the format your essay should follow (and for clarity’s sake, I’ll continue with the previous example): The challenge : Regardless of whether you’re choosing the long-term or specific instance, your essay will be much stronger if you describe a challenge that had to be overcome. For example, you’ve been assigned to a group for a school project. The deadline is in a week, your group has communicated very little, and everyone seems to be inefficiently doing their own thing. The solution: Solve your challenge using teamwork. Bonus: try to show leadership qualities!   You realize your group needs to work together, so you get everyone together and delegate roles to get things done. With everyone working on a role that caters to their unique talents, the project comes together. The takeaway: What did you learn from the experience?   I learned that communication and teamwork allowed our finished product to be so much stronger than it otherwise would have been. The future: How will you apply the takeaway to the future? Don’t be afraid to make it CMU specific! In fact, this is a great opportunity to throw in a few sentences of ‘why CMU.’ Example:   Ã¢â‚¬Å"CMU is constantly collaborating with leading companies, amongst them Sony and CH Robinson, to create results that would otherwise not be possible. In this environment, I would use my own talent for robotics and seek complimentary talents to push the limits of what I can achieve.† The more specific you can be here, the better. Specific to you and specific to CMU. Be aware that the above scenario is a very generic scenario. You will create a much stronger essay by using this space to share an example specific to you. Whether this is the time you entered a design competition with a group of friends or painted a city mural with your art club, just make sure it’s pretty specific to you! If it’s a situation that can apply to every high schooler in the world, definitely reassess. So, there you have it! At the end of the day, you want your essays to answer the prompts in a way that screams ‘you.’ The more personality and you-ness in the essays, the better. Want help on your Carnegie Mellon application or essays? Learn about our College Apps Program . Want us to quickly edit your college essay? Submit it to our Rapid Review program , and we’ll get it back to you quickly with comments from our expert team.

Mary Mount Universitys Student Code of Conduct Essay

Mary Mount Universitys Student Code of Conduct - Essay Example The Section 4 of Mary Mounts community code of conduct contains the special provision in part b which is very disturbing – it witchhunt on its perceived misconduct online. Students are cautioned that behavior conducted online, such as harassment or bullying via email, can subject them to University conduct action. Students must also be aware that blogs, web page entries on sites such as MySpace, Facebook, and Twitter and other similar online postings are in the public sphere and are not private. These postings can subject a student to allegations of conduct violations if evidence of policy violations is posted online. The University does not regularly search for this information but may take action if and when such information is brought to the attention of University officials. This is a chilling provision because, in effect, students cannot post or write anything that school officials might not like. It covers blogs, web page entries on sites such as MySpace, Facebook, and Twitter and other similar online postings under the license of bullying and harassment which would be difficult to interpret. For example, if a student rants about his or her disappointments which are typical among college students, and it was reported to school administrator as harassment, the student will be in trouble as what the special provision on Section 4 states. In effect, this provision dictates its student to only write and post nice things which are a gross violation of the freedom of speech as guaranteed by the Constitution in the First Amendment.

Trade Pattern between developed(the U.S.) and developing(South Korea) Term Paper

Trade Pattern between developed(the U.S.) and developing(South Korea) countries - Term Paper Example Even though the U. S has a trade discrepancy with South Korea, it has had a reliable trade surplus of approximately $2 billion to $3 billion in agricultural goods (Carbaugh 213)1. South Korea is the tenth greatest economy in the globe, with a yearly annual GDP fast approaching one trillion US dollars (Todaro 314)2. While it was the seventh biggest export market for the US in 2004, U. S was South Korea’s third largest trading partner and the second largest export market in 2005. In addition, South Korea is the fifth biggest market for the U.S agricultural export and the United States provides more than one fifth of South Korea’s agricultural imports. This paper looks at the characteristics of the United States-South Korea bilateral trade and offers an overview of the tariff reduction as well as elimination schedules of the two countries (Eckes 311)3. Characteristics The main mode of the US-South Korea mutual trade has moved from inter-industry trade to intra-industry tra de. Specifically, the trade model was inter–industry trade on the foundation of divergence in resource donations before 1994. The US exported intensive and natural resource-founded industry goods and technology, as well as capital-concentrated products to South Korea and imported labor-concentrated goods from that nation (Buckley et al. 341)4. Nevertheless, intra-industry trade between the two nations has increased notably in the high technology product sector since 1995. A key rise in trade of high-technology goods between the two nations shows the surge in bilateral intra-industry trade founded on good differentiation. The two nations have also raised their bilateral trade in differentiation mid-technology goods. Comparisons between trade volume and trade surpluses, by sector, can offer insight on bilateral trade patterns between the two nations. In this paper, US-Korea bilateral trade is looked at in six sectors. Agriculture and food, natural resource based industries, tex tiles, mid technology goods, high-technology goods among others. The sectors are determined on the basis of standard international trade classification two-digit code. The agric-food sector includes primary agricultural goods and processed food (Lo?pez 648)5. The natural sector comprises of gas, coal, wood and petroleum products among others. The mid section comprises of fertilizers, chemical materials, non-ferrous metals as well as furniture. The high-tech section has machinery, scientific instruments and transport instruments. The others comprise of the transaction services. The US has trade surpluses and South Korea is in the food and agriculture sector, and until lately, the natural resource-based industries. The US has a trade deficit and South Korea in the high technology section, which has grown with time. The US also has a trade shortage with South Korea in the textile section; however this deficit has declined with time. Indeed, both US imports and exports of textile produc ts have declined ever since 1990, owing to the third country impact in the market. Since other nations like Thailand, China, Indonesia, as well as Latin American nations have become very competitive in the manufacture of textile products, both the US and South Korea have raised their imports of these commodities from these nations. For the middle-technology section,

Plato's Arguments for Rationalism Essay Example | Topics and Well Written Essays - 1000 words

Plato's Arguments for Rationalism - Essay Example Plato’s arguments can be summarised in the following contest: a) Justification is simply by reason instead of senses. This means that there is need to move away from that world of cave that is explored by our sensory experience and move outside the cave to discover the world of forms by means of reason. b) Objects of knowledge such as forms are necessary, unchanging and external. Therefore, we are looking for the permanent order which underlies the flux. c) The most basic and important knowledge is priori that means that it does not rely on sensory information. Thus this is true knowledge of goodness, of mathematics, of justice and many others. d) Mathematics is simply like a model for the entire knowledge process. This implies that the easiest way that an individual can think of forms is by thinking of mathematical objects being the perfect circle.The theory of form is regarded to as one of Plato’s most powerful theory. It proposes that on top of the physical world tha t we sense in our midst, there is also another realm based on reality. This kind of realm is intelligible instead of being an observable sphere in existence; it is made up of absolute, unchanging, external, perfect forms that define that which exists imperfectly and fleetingly in our world of senses. The forms therefore provide knowledge regarding the objective truth. The theory of forms assists Plato’s epistemological theories in a number of ways.Epistemological theories are based on the account of what is meant by knowledge.

Assignment #3 480 Example | Topics and Well Written Essays - 250 words

#3 480 - Assignment Example Knowledge: HRD practitioner should portray that is knowledgeable. He or she must portray the knowledge of overcoming special challenges that are common in the working environment, carrying out complicated tasks, as well as understanding the process of change in the working environment. Additionally, HRD practitioner should have a good understanding of job learning strategies as well as management strategies (Hytonen, 2002). Task: The tasks of HRD practitioner are diverse. They range from training colleagues in an organization to being active in seminars. It is also the responsibility of HRD practitioner to enhance team work, provide internal consultancy, mentor other workers, and coach other employees. Apart from advocating job rotation, HRD practitioner also facilitates the success of special projects and carries out special assignments and excursions (Hytonen, 2002). Additionally, it is the responsibility of the HRD practitioner to ensure that an organization’s objectives have been achieved. He or she achieve these enhancing social interactions between colleagues and customers, as well as maintaining and developing the knowledge and skills of people working in his or her organization. Hytonen T. (2002). Exploring the Practice of Human Resource Development as a Field of Professional Expertise. Retrieved

Change & Continuity in Contemporary Business Essay

Change & Continuity in Contemporary Business - Essay Example It also enthused the workforce with renewed vision of the company and provided clarity to them with regard to their roles in the makeover of the organization. Yet, the transformation could be called only a part success since this transformation has not solved the company’s major problem of ageing median age of its customers. The company would be again forced to brainstorm in order to tackle this situation. In the hurry to tackle immediate crisis, it has not made any provision for future market changes. It is yet to act as per the perceived changes in the coming years. Eventually, the report recommends that Harley Davidson should seek its future in newer market segments with new products. Among its employees, it should train and guide a chosen set of people to catch the signs of advancing change in the market scenario and take steps to prepare accordingly. It also recommends the organization to diversify in other automobile segments such as cars and commercial vehicles. As evident from the time bar above, Harley Davidson saw lots of ups and downs before it entered the transformation phase. Harley Davidson, in its early days was the only motorcycle manufacturer in America and ruled the motorcycle market. However, it was caught unawares when foreign entrants flooded the market with innovative, quality and affordable products. The Japanese players catered to newer market segments untapped by Harley. The change in management of the company and the new management’s haste to catch up with the competitors added to the woes of the company which was already suffering from declined market share. The company slumped to its lowest in terms of market share i.e. 23%. It was at this point that few of its managers decided to take over the company. They tried to understand the strengths of the competitors and the weaknesses of their own organization and brought about a fresh insight into work. Under the able leadership

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

Server - Essay Example The computer network should also be secured from damages that may result from physical factors and dangers caused by computer virus. Thus, network security is extremely essential in any company; the chief information officer should be aware of how to ensure network security. There are several ways in which unauthorized users can gain access to the peer-to-peer networks in a company. First, they can access the peer networks by using any of the networked computers to type a unique username as well as password. This can be prevented by making sure that the networked computers cannot be accessed physically. To achieve this, the BIOS security should be enabled; this makes sure that the user sets an access name and password for the computers (Maiwald, 2003). Maiwald (2003) asserts that hackers and other unauthorized users can gain access to a company’s sever-based network by using the name and password of another person. In such a case, passwords should be changed on a regular basis, and they should not also be written down. This way, it will be extremely difficult for unauthorized users to access the company’s network. Data encryption can also be used to ensure that the network is secure and not accessible to unauthorized persons. Data should be encrypted before sending it onto the network. This way, the data will become unreadable even by a person who may attempt to tap the cable and read the data when it passes over the network. Upon arrival at the proper computer, the code designed to decipher encrypted data divides it into bits. The code then translates the bits into information that can be understood (Gollmann, 2011). According to Brown (2000), the network infrastructure of a company should also be protected from computer viruses which may infect the operating systems and files. Viruses can be transmitted through direct cable connection, floppy disks or CDs. Other means in which viruses can be transmitted include electronic ways such as through

HUman CApital Management Essay Example for Free

HUman CApital Management Essay However, only since two decades ago, he whole culture of human resource management changed drastically due to extensive influence of internet, wireless connection and Steve Job. This paradigm shift of HRM was mooted by most of the present Fortune 500 companies such as Apple, Google and Bloomberg. These companies which was formed about two decades ago changed the landmark of Human Resource Management. Human Resource Department changed role from hiring and administrating workforce for the company to engaging and managing talent and human capital to add value to the organizations performance and success. The trend was established that human apital or the people of the organization are the core which shall be well capitalised requirement changed drastically. One of it is the performance management of this human capital. This literature analysed on what are the problem faced in measuring performance management or appraisal of staffs, the factors prompting organization to reconsider or overhaul their performance management system and on how organization could improve the performance management system to suit current SHRM environment which the workforce demands. The problems with the appraisal system were found to be standard of performance measurement, more Judgemental n appraising, poor skills of appraiser and the frequency of performance appraisal. These shortcomings are due to the evolving nature of business environment which are caused by globalization, new approach of people management, knowledge economy, generational expectations, technology advancement etc. Discussion to improve performance appraisal leads to aspect of new philosophy of HRM, improved appraisal model, Strategic Human Resource Management (SHRM), and defined roles of managers.

Total Quality Management (TQM) in Fly Emirates

Total Quality Management (TQM) in Fly Emirates .Emirates in the Middle East is the major airline and subsidiary of emirates group. It is the national airline of Dubai, United Arab emirates which thus operates near around 2000 passengers flights in a week from its hub at Dubai international airport, terminal 3 to 100 destinations in 60 countries in the 6 near about continents. The organization is a subsidiary of the emirates group which has more than 50,000 employees and is owned by the government of Dubai under the corporation of Dubai. The other cargo activities are thus undertaken by the Emirates sky group division. The airline has been ranked among the top 10 worldwide in terms of passengers, revenue, etc. and has thus become the largest airline in the middle east in terms of revenue, passengers, fleet size, etc. and in the recent survey of 2009, the airline was the seventh largest in the world in terms of the passenger carried and fourth largest in terms of scheduled international passenger kilometers flown. The organization has thus built a strong brand name as the trendsetter in the industry, peculiarly in terms of service excellence and the consistency of profitability and thus the organization was ranked fifth best airline in the world from all the perspective by the research consultancy by Skytrax in the year 2009. (2009) culture of the organization The airline is the subsidiary of The Emirates group. The culture of the organization have always been in providing facilities up to the brim and up to the certain extent and that is why the organization have always been in top 10 airlines around the world. It is the quality of the organization that it has been steadily capturing the traffic from North America to South Asia and almost all the continents of the world, allowing all the passengers to bypass the traditional hubs of London, Paris, Frankfurt; the home bases of British airways, Air France with the transit stop at the Dubai international airport instead. The culture has also been to change the organization to the brand name and thus from 2004, the company changed its slogan to Fly Emirates. In the year 2008, the organization launched a slogan mainly around their root network of 100 destinations in more than 50 countries across six continents Fly Emirates. Keep discovering and most recently it launched a campaign to promote D ubai as the destination using the slogan Fly Emirates. Meet Dubai. And some more like The finest In the Sky, Be Good to Yourself, When was the last time you did for the first time. The culture has been to provide optimum quality services to the passengers. They thus provide different class of seats like the First class which thus have a full suite, complete with closing doors to ensure privacy, a mini-bar and a coat rack. It also includes the feature of 58 cm LCD screen and a 2 meter fully flat bad and thus for the first class, they were ranked second by Skytrax. After the first class, they have the business class with the feature seats of 150 cm that recline to flat beds, 43 cm wide TV screen and thus these passengers have the ability to customize and save seat and the third is thus the business class. The organization culture thus includes innovation and providing new ideas and thus has the perspective of providing every possible feature to the passengers and for that they were th e first airline who launched IFE system for all the three classes. IFE thus stands for In flight entertainment system which thus have the feature like ICE which stands for Information, Communication and Entertainment. The culture has also been in investing different events like the organization is the official sponsor of the Fifa World cup, sponsors of many football groups like AC Milan, Arsenal F.C. they will thus also sponsor Rugby world cup 2011 and thus their branding have thus made them the official partner of International Cricket Council up to 2015. Another quality culture of the organization is that they have been always expanding their staff and recruiting more and more staff which is thus a good sign for the companys growth. The global financial crisis have thus not impacted much on the airlines and thus they are recruiting more staff and thus they tell that their plans are on going and always promising and their aim is thus to acquire the number one position for maintain ing the quality and the serviced rendered and not the size. total quality barriers faced by the organization There are many quality barriers that have been faced by the organizations that thus include the fare problems, the pilots problems and not delivering any facilities on the lounge. The fare problems thus include the problems that are faced by the customers on the online booking. They just complain that if there is a problem in their website and many a times they do not get any response. A fare problem thus include that while booking a ticket when the customer looks in the fare conditions, system tell them Skywards flex and when they look on miles they earn, the system shows them the both legs Saver. Another problem on the website is that while the customers are looking at the mileage calculator, the system always shows saver. Another problem include that while going through the whole process, the endorsement box always reads flex fare and when the customers go the manage booking, the system shows saver fare, then the customer call the reservation counter, they tell them to call the Sk ywards and the Skywards do not know it. Another problem includes many of the times the customers are not replied for their complaints. The problems become severe when the pilots complaint about the organization and make a statement that another threat or another accident is possible. The pilots say that there is a concern about the morale, management and the fatigue of the UAE based airline. The pilots say that they do no want to see another smoking hole in the ground. Another pilot says that often they are made to flight to their maximum allowable time and the accident which took place on march 20 at the Melbourne airport, the reason for the accident was that the pilot had rarely slept in the day and before that accident the pilot had flown more than 95 hours in the last month an thus the pilots thus made the statement that if a fatigue related accident is going to take place, it will be definitely from the Fly Emirates and another pilot says that when people are tired, mistakes u sually occur and the result of the mistake of the pilot can take many lives. Another flaw that has been usually observed in the Emirates is that not giving privilege to the old customers and thus making a feeling that it is rather running for the new passengers. These are some of the quality barriers that the organization has faced and is facing now too. (2006) reasons for why these elements are barriers to total quality and why these barrirs are considered to be total quality barriers When we look into the matter of the fare problem, it is the barrier to the total quality as the fare problem can not only reduce the quality but can also take some critical eroticization from the customers, there are millions of customers that do the online booking and if they face a problem sooner or later every time they book their tickets, certainly they will just remove their habit of going through this airline and would thus prefer some other airline. The several customers while booking if undergo through a problem, it is the responsibility of the company to sort out their problem when the complaint is put forward by the customer but when the complaint is not dealt with, the customer rather becomes unhappy by the facilities provided and rather do not prefer the same airlines again the next time he travels. The pilots problems are thus a severe one and thus have to be sorted out. At the time of global crisis, the Fly Emirates thus appointed fewer less pilots and thus the major pr oblem that arose was the fatigue problem. A person when tired and not completely fit tends to do some mistakes and the pilots mistakes can take lives of lot of people. This will thus reduce the faith of the customers in the airlines and could pose a serious threat for the economy of the airlines. The flaw that arose in the recent times was also the crucial one. Emirates is thus not giving privilege to the old customers and thus they feel it is running only for the new passengers. At the international business level, you have to take care of the old customers as to broaden your business farther and farther. The travelers that will sooner become your permanent customers have to be dealt with properly and thus they are the people who indirectly promote the business characteristics of a quality culture and the differences between FLy emirates culture and quality culture Quality culture is thus a culture maintained in an organization to thus have the quality maintained. The culture thus is inducing in the organization to thus have a future good prospect. It thus includes providing quality facilities to the customers to the maximum. Characteristics of the quality culture thus include brooding up the business to have a good mind set in the people minds that the organizations always maintains quality. The difference between the Fly Emirates culture and quality culture was thus that they failed to provide quality to certain customers and thus the customers were disappointed. The factors might be many to make the difference between the emirates culture and the quality culture but once the customers is dissatisfied with the facilities, he never prefers the organization again and when the customer put forwards a complaint to the organization and then no regards are paid, the quality of the organization is thus not maintained. Likewise quality culture within an organization tells to deal with every customer properly and with quality while the Emirates could not develop relationship with the old customers, could not satisfy the customers properly and thus the quality of the organization could not be maintained. report and analysis of the total quality system of fly emirates Fly Emirates has always been known for the quality and that is why they have been ranked under 10 by Skytrax. The managers have always been saying that their basic motive is to acquire number one position in quality but not in size. The quality is always maintained by the organization. The organization was the first airline in the world to introduce a personal entertainment system on a commercial air craft. All the three classes have in flight entertainment system which thus include ICE system. ICE thus stands for Information, Communication and entertainment. The facilities thus they serve in the three seats of class are as follows The first one is thus the first class which thus has a full suite, complete with closing doors to ensure privacy, a coat rack, a mini bar and storage. They also feature an ICE system of 58 cm LCD screen and the seat converts into the 2 m fully flat bed and thus they were ranked second by Skytrax in the yea 2009. The business class feature seats with 15 0 cm pitch that recline to 200 cm long angled flat beds. Other features include privacy partition, massage function, winged headrest, an overhead seat of light and two individual reading lights, USB ports, in seat power supply and an RCA socket for laptop connection and a 43 cm wide screen of TV. The economy class thus offers a 30 inch seat pitch and standard seat width. The seat features adjustable head rests, an ICE in flight entertainment system. Thus they are always leading from the front providing the quality and maintaining the quality system in their organization. how cultural change could be implemented and maintained within the fly emirates The organizations culture has certainly less flaws but these flaws had to be removed by changing the culture of the organization. It includes satisfying every customer and taking a feedback from the customer and thus implementing on the feedback. For example if a certain lot of people claim that the sitting facilities in the business class are not comfortable, the organizers can have a look at the needs of the people and make the people feel comfortable and make them think they are listened and made them grow faith in the organization. This is the best method for the promotion and growth of the organization as the customers will help increase the customers as mouth publicity is the biggest publicity in the business class. It also includes developing a good customer organization interface by maintaining the old relations, giving privileges to the old customers. The failure of addressing the culture of an organization is thus the most frequent reason for the management initiatives that have limited the resources. We can thus say that the cultural change could be brought by change in behavior towards the old customers, developing a good customer organization interface, dominant values and looking towards the need and the beliefs of the people make the customers feel that they are an integral part of the organization, commitment by the organization and keeping it firm. Thus the culture of good team work as the organizers could thus be developed like investing at the proper place and many more. recommendations on improvement of total quality management system of fly emirates There are many recommendations that can be given to the organization on improvement of the total quality system of Fly Emirates. The recommendation thus include creating a consistency of purpose to serve the customers, adopting new philosophies and new ideas at different times, ceasing dependency on something peculiarly to rather achieve more success, improving constantly with time with new projects, new services offered and with new plans ejected. The recommendation also include opening up a different institute for training up the pilots, adopting and instituting leadership within the organization and driving out fear from every employee of the organization, separate distances between various staffs and managers, equal treatment to every employee should be given and thus the success should be shared among every employee, set some targets for the workforce, influence them by some slogans, removing barriers that rob people of pride of the workforce and removing the annual ratings and the merit system. Start a program that could institute self improvement within every employee of the organization, put everybody in the organization to work for accomplishing the transformations. The recommendations also include developing or creating some ethics for the organization which could rather maintain the discipline of the organization, creating the integrity, building up trust among the customers to have more business in the future. The communications among several employees is thus too important as the communications bind the employees together and bind everyone together. So these were the recommendation on improvement of the total quality management of Fly Emirates. (Emi10)

The Quest for Inner Beauty in Charlotte Brontes Jane Eyre Essay

The Quest for Inner Beauty in Jane Erye     Ã‚  Ã‚  Ã‚   The beauty of a woman is usually classified into two categories: superficial, or physical, beauty and inner, or intellectual, beauty. In the Charlotte Bronte's Jane Erye, the protagonist rejects her own physical beauty in favor of her intelligence and morality. This choice allows her to win the hand of the man she desires. Jane values her knowledge and thinking before any of her physical appearances because of her desire as a child to read, the lessons she is taught and the reinforcements of the idea appearing in her adulthood. During the course of the novel she lives at five homes. In each of these places, the idea of inner beauty conquering exterior appearance becomes a lesson, and in her last home she gains her reward, a man who loves her solely for her mind. She reads against her cousins wishes as a child at Gateshead, learns to value her intelligence as a child at the Lowood Institution, her mind and humility win the heart of Mr. Rochester at Thornfield Manor, s he earns St. John's marriage proposal at Marsh's End, and in the end she wins her prize of Mr. Rochester's hand in marriage at Ferndean Manor. Jane Erye spent the beginning of her childhood at her Aunt's house, where she struggles to become more intelligent by reading books. Jane wants to learn, even though her cousin insists: "You have no business to read our books; you are a dependent" (pg. 42). Shortly after being struck for reading, she lays in bed and requests: "Gulliver's Travels from the library. This book I had again and again perused with delight" (pg. 53). Her ambition to read and better herself meets opposition from her cousins, yet she continues to struggle to read when she can. The family she lives ... ...e Place of Love in Jane Eyre and Wuthering Heights. David Lodge, Fire and Eyre: Charlotte Brontà «'s War of Earthly Elements Fraser, Rebecca. The Brontes. 1st ed. New York: Crown Publishers, 1988.    Bronte, Charlotte. Jane Eyre. 3rd ed. New York: The Modern Library. Bronte, Charlotte. "Charlotte Bronte's Letters". New York: W. W. Norton & Company, Inc., 1971. Diedrick, James.   Newman on the Gentleman.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://www.stg.brown.edu/projects/hypertext/landow/victorian/vn/victor10.html. Diedrick, James.   Jane Eyre and A Vindication   of the Rights of Woman.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://spider.albion.edu/fac/engl/diedrick/jeyre1.htm. Dickerson, Vanessa D. Victorian Ghosts in the Noontide.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://www.system.missouri.edu/upress/fall1996/dickerso.htm. Brownell, Eliza. Age Difference in Marriage: The Context for Jane Eyre   

Graduation Speech -- Graduation Speech, Commencement Address

I would like to thank all of you for coming on such short notice. After all, 18 years hardly seems like enough time to prepare for graduation. In fact, as I stand up here and looking at all of my classmates, I wonder if I am ready to graduate. But I know that high school has merely been an appetizer in the seven course meal that we call life. And for all of you that know me -- family, friends and teachers -- you know that I have a great appreciation for food. Whether it's a juicy slab of prime rib at dinner or just a package of Fruitos during third period, I can never resist. It is so sad, because often times I even think in terms of food. In fact, as I sat down to write this speech the best form in which I could think of giving it was to compare our lives to a meal. In that meal, high school is merely the first course or an appetizer, a small sample that wets our appetites for the main dish. In the midst of indulging in our appetizers we sometimes forget that there is a main course yet to come. Some of us have sampled oysters and discovered that we have a hatred for seaf...

Its Time to Lower the Teacher to Student Ratio Essay -- Argumentative

It's Time to Lower the Teacher to Student Ratio   Ã‚   Growing up is hard enough to do in this day and age, but even more so when a small child's education is sacrificed. Today's classrooms, kindergarten through college levels, are experiencing a significant rise in the number of students in each class. This brings the teacher-to-student ratio to an unacceptable level. Teachers cannot effectively teach their students if there are too many in a single class. Therefore, it is extremely important for the United States' educational system to take an in-depth investigation into this situation and work towards a better way for our children to learn in a more focused environment. For our children's sake and for our future, we all must assist in finding a way to lower the teacher-to-student ratio.    The long and short-term benefits of reducing class size affect the students and the teachers and will continue into the future. By reducing a class to an average of eighteen students, teachers are able to spend more one-on-one time with each student. In fact, in a study done in the United Kingdom proved that, "Outcomes showed that in smaller classes the teachers interacted more effectively with the entire class, had more sustained interactions (25 seconds or more) with individual students, and required less time to manage individual student's routines" (Hargreaves, et al 123). Interactions, such as these, are especially important to those children in kindergarten through the third grade. With focuses on reading, writing, and math on children in this early stage of their education, research is showing that these children will "carry the effects of a small class with them throughout the remainder of their academic... ...ize on Teacher-Pupil Interaction in Elementary School Classes in England: Does Research Merely Confirm the Obvious? Paper prepared for the American Educational Research Association Annual Conference, Chicago, March 1997. ED 409 123. Molnar, Alex., et al. 1997-98 Results of the Student Achievement Guarantee in Education (SAGE) Program. December 1998. Milwaukee, WI: University of Wisconsin-Milwaukee. Shields, Patrick M., et al. Teaching and California's Future. The Status of the Teaching Profession: Research Findings and Policy Recommendations. A Report to the Teaching and California's Future Task Force. Santa Cruz, California: The Center for the Future of Teaching and Learning, 1999. 158 pages. U.S. Department of Education. Reducing Class Size: What Do We Know? Washington, DC: Author, 1998. 17 pages. http://www.ed.gov/pubs/ReducingClass/.   

Israel palestine conflict (final) Essay

History In 1917 the British government issued the Balfour Declaration, pledging it support for a Jewish national home in Palestine. About 300,000 Jews immigrated to Palestine, and Arab-owned land. The Arab majority feared a Zionist Plan to dispossess them and make Palestine a Jewish State. To appease the Arabs, who had staged several revolts, Britain issued the White Paper of 1939 (Bright, 1981, p. 67). It virtually cut off Jewish immigration and limited land acquisition by Jews. The Zionists objected, but nevertheless Jewish troops from Palestine supported British in World War II. Smuggling of Jewish immigrants became widespread, and there were bloody clashes between Arabs and Jews. Some Jews even conducted a terrorist campaign. The Great Britain referred their problem to the United Nations. Then the UN voted to partition Palestine between the Arabs and Jews, leaving Jerusalem in an international zone but then the Arab leaders rejected the plan, and fighting again broke out (Bright, 1981, p. 67). Until the Jewish leaders proclaimed the state of Israel and it beat off invasion by the neighboring Arab league countries. Then the Arabs were expelled from the captured areas, creating an enormous refugee problem. Tensions remained high and there were frequent border clashes until full scale war broke out in June, 1967. Many chaotic events happened years after it, not until they made a peace treaty in 1979. But then the tensions were again heightened in 1981 when the Israel annexed Golan Heights, and when the country invaded and occupied Southern Lebanon, in an attempt to expel the Palestinian guerilla forces there (Bright, 1981,p. 68). This conflict between the Palestine and Israel is still present today. I think for them to settle and resolved their problems of decades now, they should have a time to sit and talk things over. They should have an agreement which is not mediated by any organizations but them alone. They should talk on whatever things they want to do. They should agree on what to do about the Golan Heights and the other Borders that they are fighting for. They should also take time also to list all the things they want to achieve as two different countries minding the good of the citizens living there. I think the Arab Palestinians just don’t like the decisions made by the Israeli. They don’t respect the thinking or what would the Arabs would like to do, the Israeli could do things they want for their place but they should also consider the Arab Palestinians living their. Before they would make a move they should think if it is for the benefit of all or for themselves only. We can not blame the Arab Palestinians, for they just react on whatever the Israeli has decided to do. I think the Arab Palestinians just want fairness in their land. Reference: 1. Bright, John. A History of Israel, 3rd edition (Westminster Press, 1981).

Innocent drinks Company Essay

â€Å"Innocent drinks† is company that selling famous drinks in The United Kingdom which started by 3 Cambridge students in 1999. This is a drink that makes with 100 percent pure and natural fruit juice. Smoothies are the primary product of â€Å"Innocent drinks† and people are aware of it due to its healthy image. The company provides different product range and the distribution of channels covered most of the supermarkets, coffee shops and etc. For every year â€Å"Innocent drinks† will donate 10 percent of their profits to charity and this called The Innocent Foundation. This foundation has helped a lot of people. This report will analyses the process of â€Å"Innocent drinks† from 1999 to 2013. 1.Organization Structure There are many types of organization structure, for example, hierarchical structure, matrix structure and etc. For different structure, it has different result, management and objective. â€Å"Innocent drinks† was a small business in very competitive markets which is fit to entrepreneurial structure. The advantages of this structure are that the core team can make decisions quickly and for the members they can give some ideas to the core team and solve the problem that they are facing. â€Å"Innocent drinks† started from entrepreneurial structure and turned to hierarchical structure after few years. The reason of â€Å"Innocent drinks† turned into another structure is because they cannot satisfy their needs. They want to make themselves to be more famous and to earn more profit. â€Å"Innocent drinks† thinks that hierarchical structure has a good scale that can separate into different departments to achieve specialization. This can let the employees know what spot they are doing and they can exert their abilities. For example, in marketing they can help to promote the product or to think of a new design to attract the customers to buy it. When every department do well in the way they have to, it is easy for â€Å"Innocent drinks† to manage and achieve expected target like turnover. Ownership According to Finance maps of world ( 2012 ), â€Å"Business ownership means having the control over business enterprise and being able to dictate is functioning and operations.† From the beginning of â€Å"Innocent drinks† there were created by three Cambridge students who are Richard Reed, Adam Balon and Jon Wright. They used 500 pounds to set up this business with  partnership. The advantages of having a partnership are they can share the responsibility and operate for the common goal of making a profit. On the other hand, partnership lack of finance to expend so â€Å"Innocent drinks† decided to turn into private limited company in 2007 and it can separate legal identity, which can safeguard the operation of business and the company can debt more money from the bank it is because â€Å"Innocent drinks† can be a mortgage. Moreover, being a private limited company can have the purchase discounts and this can save some money for the company. Two years later, â€Å"Innocent drinks† has sold 18 percent of the company to Coca Cola which means that Coca Cola has the right to operate â€Å"Innocent drinks†. In 2013, Coca Cola has fully control â€Å"Innocent drinks† with 91 percent share. This cause that â€Å"Innocent drinks† has only a small minority holding. Hence, â€Å"Innocent drinks† turned into consultancy business which can only provide ideas and services. Growth Investopedia ( 2013 ) point out that â€Å"Growth is an increase in the capacity of an economy to produce goods and services, compared from one period of time to another.† Since the market change rapidly â€Å"Innocent drinks† has to create new type of product to cater the needs of the customers. From the beginning, â€Å"Innocent drinks† has only 3 recipes to almost 30 more over the years. The juice ranges of â€Å"Innocent drinks† started from the original taste and evolve to mixed taste. The product ranges is different, including kid, smoothie and thickies. For example, kid drinks are specially made to provide all the essentially vitamins to sustain their growth. In this product, â€Å"Innocent drinks† has made a different design and size to cater the needs children. 2.Reason of growth There are few reasons why â€Å"Innocent drinks† can be grown rapidly. Firstly, advertising. â€Å"Innocent drinks† has different advertisement on the television and for each advertisement it will represent their main product and shows that â€Å"Innocent drinks† never sweetened and never concentrated. The use of the advertisement is to build up a healthy image of â€Å"Innocent drinks† so that the customers will start considering to purchase this product. Secondly, PJ’s smoothies is the main rival of â€Å"Innocent drinks†. PJ’s smoothies has changed the image and increased price because it wants to be a  premier brand. While PJ’s smoothies increased its price, it lost some loyal customers at the same time. â€Å"Innocent drinks† might be cheaper than PJ’s smoothies, therefore, this cause more customers to choose â€Å"Innocent drinks†. Finance is another factor that enhances the growth of â€Å"Innocent drinks†. In 2004, the annual profit is 968000 pounds and it increases to 3066000 pounds in 2005. 3.Business strategy Business strategy is a business plan that takes place long-term in order to help achieve a specific goal or objective. Christina C (N.D.) The company analyzes the external and internal business environment before making an accurate decision. SWOT and PESTLE are the planning methods to evaluate the company. Strengths – â€Å"Innocent drinks† products are highly competitive because it made with 100 percent pure fruit juice and high quality and low price these are the advantages over the rivals. Weaknesses – distribution channels are small and weak brand reputation compare to other drink companies. Opportunity – â€Å"Innocent Drinks† serve the expectation of producing 100% fruit drinks and change the consumer tastes because the new products can attract their attention. Moreover, the company expands the market including target elderly. This is a unique area that preferable than other competitors. Threats – weather, the weather might affect the quality of the fruits and the transport and â€Å"Innocent drinks† has many rival, for example, PJ’s smoothies, Pepsi and Tropicana. Political – The government is very concerned about health and safety. â€Å"Innocent drinks† has to list out the ingredient on the product because it has to protect the consumer. Economic – Since inflation and the increase rate of unemployment will affect the confidence of consumers. Therefore, they tend to buy a cheaper brand instead of ‘Innocent Drinks’. Moreover, the economic condition also influences the company. For example, the high costs of purchasing ingredients and the taxation. Social – education, nowadays people are more concerned about their health therefore they will choose to buy a drink that is healthy for them, for example, 100 percent pure fruit juice and without any sugar. For population, â€Å"Innocent drinks† has not o nly targeted the adults and kids but also the elderlies. Furthermore, â€Å"Innocent drinks† will strengthen their brand through the advertisement, establish the healthy image in the society. Technological – affect the production level of  Ã¢â‚¬Å"Innocent drinks† because of the innovative technology. It leads to producing the juice efficiency and reduce the productive average costs by economies of scale. Moreover, the advance of technology can improve the communication flow which is beneficial of making accurate decision. Furthermore, the use of technology is helpful for ‘Innocent Drinks’ to recycle the bottles. Legal – minimum wage, for the company of â€Å"Innocent drinks† they have to sign a contract with every worker to protect their pay. Environmental – the trend of the world. The earth is facing global warming which makes â€Å"Innocent drinks† decided to recycle the plastic bottles to save the world

Finance Strategy

Strategic Corporate Finance Required Articles/Cases (Included in Harvard Course Pack) The following is a list of articles you will find when you register with HBR and purchase the Course Pack. Cost of Capital (CAPM, WACC): Case: Midland Energy Resources, Inc. : Cost of Capital (Brief Case), Joel L. Heilprin, Timothy A. Luehrman (Product number: 4129-PDF-ENG) Accompanying Student Spreadsheet: Midland Energy Resources, Inc. : Cost of Capital, Spreadsheet for Students, Joel L. Heilprin, Timothy A. Luehrman (Product number: 4140-XLS-ENG) Article: â€Å"What's Your Real Cost of Capital? James J. McNulty, Tony D. Yeh, William S. Schulze, Michael H. Lubatkin (Product number: R0210J-PDF-ENG) Article: â€Å"Applying the Capital Asset Pricing Model,† Robert S. Harris (Product number: UV0402-PDFENG) Article: â€Å"Does the Capital Asset Pricing Model Work? † David W. Mullins Jr. (Product number: 82106PDF-ENG) Article: â€Å"The Corporation's Cost of Capital and the Weighted-Aver age Cost of Capital,† Kenneth Eades (Product number: UV0389-PDF-ENG) Article: â€Å"Business Valuation and the Cost of Capital,† Timothy A.Luehrman (Product number: 210037PDF-ENG) Financial Accounting (Statement Analysis): Article: â€Å"Introduction to Financial Ratios and Financial Statement Analysis,† William J. Bruns Jr. (Product number: 193029-PDF-ENG) Article/Case: â€Å"An Overview of Financial Statement Analysis: The Mechanics,† Brandt Allen, Paul Simko (Product number: UV0911-PDF-ENG) Case: Financial Statement Analysis (Identify the Industry), Graeme Rankine (Product number: TB0069PDF-ENG) International: Case: Groupe Ariel S.A. : Parity Conditions and Cross-Border Valuation, Timothy A. Luehrman, James Quinn (Product number: 4194-PDF-ENG) Accompanying Student Spreadsheet: Groupe Ariel S. A. : Parity Conditions and Cross-Border Valuation, Timothy A. Luehrman, James Quinn (Product number: 4196-XLS-ENG) Article: â€Å"Cross-Border Valuation,† K enneth A. Froot, W. Carl Kester (Product number: 295100-PDF-ENG) Mergers and Acquisitions: Article: â€Å"The New M&A Playbook,† Clayton M.Christensen, Richard Alton, Curtis Rising, Andrew Waldeck (Product number: R1103B-PDF-ENG) Net Present Value: Book Chapter: â€Å"Net Present Value and Internal Rate of Return: Accounting for Time,† (Product number: 5245BC-PDF-ENG) Strategy & Innovation: Article: â€Å"Blue Ocean Strategy,† W. Chan Kim & Renee A. Mauborgne (Product number: R0410D-PDFENG, 2004) Article: â€Å"The Five Competitive Forces That Shape Strategy,† Michael E. Porter (Product number: R0801EPDF-ENG) Article: â€Å"Innovation Killers: How Financial Tools Destroy Your Capacity to Do New Things,† Clayton M. Christensen, Stephen P. Kaufman, Willy Shih (Product number: R0801F-PDF-ENG)

Corporate Governance Essay

ABSTRACT This paper examines whether the remuneration of the Chief Executive Officer position in Hong Kong public firms is affected by board composition, given the influence of family control on the boards of many Hong Kong companies. It is hypothesized that I) in family-controlled boards, Chief Executive Officers receiver higher compensation and II) Chief Executive Officers in family-controlled boards serve as Chief Executive Officer positions longer. In family-controlled boards, corporate governance is of very high importance as the independent non-executive directors can exert less influence over the board, compared to non-family-controlled boards (â€Å"dispersed boards†). Keywords: Board composition, Remuneration, Corporate Governance. 1.INTRODUCTION The economic turmoil in Asia in 1997 has led to a wider recognition of the importance of corporate governance. In line with global trends towards higher standards of corporate governance, the duties and liabilities of the directors of the listed companies have therefore become more stringent. It follows that many corporate governance mechanisms designed to monitor board members may be less effective for family-owned and family-controlled firms. However, to attract outside investors, family-owned and family-controlled firms tend to encourage greater independence and monitoring from the board. For the purposes of the study, family-owned and family-controlled are used interchangeably. The reason is that actual family ownership is difficult to ascertain due to various shareholdings and special purpose vehicles that are used, and cannot be deduced from annual reports. Thus, in this study we classify family-control and family-ownership when the board is made of a majority of related family members as a â€Å"family-controlled board†. When it is not, we classify it as a â€Å"dispersed board†. In practice, there are instances where the family owns the majority of a company but comprise of a minority of the board, and it is possible that the family is able to exert influence via other avenues, however, this study will not be examining such. Family-owned firms are common throughout Asia. Studies show that, family-owned firms hold more than 20 percent of the equity of listed companies in Asia, and more than 60 percent of the listed companies have connections with family-owned groups (Bebchuk & Fried, 2006). Family-owned businesses represent the predominant form of listed companies in Hong Kong (Standard & Poor’s, 2002). Such family ownership structure implies the strong influence of dominant shareholders and provides limited voice for minority shareholders. Compared to the Anglo-American environment, where ownership blocks are less concentrated but institutional investors are more prevalent, in Hong Kong, there is less of a culture for non-executive directors or minority shareholder activists to challenge. Variations in ownership structure may lead to differences in the nature of agency conflicts, the roles of directors may vary in accordance to the ownership structure. For family-owned firms, Shleifer and Vishny (1997) argue that the primary agency conflict is between a family owner and non-family owners. Meanwhile, for widely held firms, Berle and Means (1932), and, Jensen and Meckling (1976) argue that the primary agency conflict is between executives and shareholders. As a consequence, tying remuneration to performance of executives may prove the most efficient way to mitigate this agency conflict. To date, a vast of literatures published in recent years show the growing recognition of influences of family-owned firms and executive remuneration on corporate governance. Many studies have tended to focus on the use of remuneration contracts to align interests of executives with owners in family-owned firms. The rise in executive remuneration in recent years has been the subject of public criticism, which further intensified corporate governance scandals. Therefore, the question whether a correlation exists between remuneration and family-control in board composition at Hong Kong-listed companies. 2.OBJECTIVES In 1994, Hong Kong Exchanges and Clearing Limited introduced rules that require listed firms to disclose the remuneration of directors. Before 2004, there was no requirement to disclose the names and remuneration of directors (Cheng & Firth, 2005). The Disclosure of Financial Information rule under Hong Kong Exchanges and Clearing Limited’s Listing Rules was amended on 31 March 2004 to require full disclosure, on an individual and named basis, of directors’ fees and any other reimbursement or emolument payable to a director. In addition, Hong Kong Financial Reporting Standard 2 requires listed firms to disclose directors’ share-based remuneration. The Code on Corporate Governance Practices forms part of the Listing Rules and came into effect on 1 January 2005. According to the Code on Corporate Governance Practices, Hong Kong’s listed firms should be overseen by an effective board, which should assume responsibility for the leadership and control of the listed firm, and the members of which should be collectively responsible for promoting the success of the firm by directing and supervising its affairs. Directors should make decisions objectively in the best interests of the firm. In regards of remuneration policy for firms’ directors, the Code on Corporate Governance Practices requires the disclosure of information related to the firm’s directors’ remuneration policy and other remuneration-related matters. There should be a formal and transparent procedure for setting policy on executive directors’ remuneration. The Chief Executive Officer, a director in the board of company, will hence have his/her full remuneration disclosed. It is recommended that remuneration should be set at a level sufficient to attract and retain directors of the caliber required to run the company successfully, but companies should avoid paying more than is necessary. However, it is argued that many corporate governance mechanisms designed to monitor board members may be less effective for family-owned firms. However, to attract outside investors, family-owned firms tend to encourage greater independence and monitoring from the board. In Hong Kong, there are quite a number of listed companies have a high concentration of family ownership. It is common for the top executives of family-owned firms in Hong Kong to be family members. The rise of remuneration of family executives in family-owned firms has been the subject of public criticism. Recognizing this, the purpose of this research is to find out whether there is any relationship between family-board-control of firms and remuneration of Chief Executive Officers. To summarize, this study revolves around the following major objectives. †¢ To test whether there are significant differences in Chief Executive Officers’ remuneration for family-controlled and non-family-controlled firms (specifically firms with family-controlled boards and firms without family-controlled boards); †¢ To find out whether â€Å"Family Chief Executive Offices† (cases where the Chief Executive Officer are family members of the family-controlled boards) are awarded excessive compensation, compromising standards of corporate governance; †¢ To examine the tenure of Chief Executive Officers for family-controlled firms vs non-family-controlled firms, given that there may be differences in the board’s ongoing approval and demand of the results delivered by the Chief Executive Office; and †¢ To test whether there are significant differences in corporate governance structure of family-controlled and non-family-controlled firms. 3.LITERATURES REVIEW, HYPOTHESIS DEVELOPMENT 3.1 Agency theory It is commonly acknowledged that ownership structure, the basis of corporate governance, is important to the overall performance of firms. While there are a large number of literatures discussing ownership structure, agency theory is frequently cited as a foundation. In modern corporations, the separation of ownership and control leads to agency conflicts that can be alleviated through various corporate governance mechanisms (Fama and Jensen, 1983). As one such mechanism, compensation schemes are designed to provide incentives that align the behavior of agents to act on behalf of principles (Jensen and Meckling, 1976). This relationship between executive compensation and firm performance has received considerable attention from the general public and academics. One of the issues in the field of management is the impact of family influence (Mishra et. al., 2001; McConaughy et. al., 1998) and corporate governance on the value of a firm (Khatri et al., 2001; Kwak, 2003; Black et al., 2003). There are various studies in diverse areas like accounting, economics, finance, law and management have been conducted to study such impact (Mishra et al., 2001; Kwak, 2003; Blacket al., 2003; Andersen and Reeb, 2003). These studies have resulted in interesting and useful observations. According to Alchian and Demsetz (1972), the principal agent problem comes from hidden action due to asymmetric information. The essence of a firm is that, it permits people to work as a team. It is the cooperation of a team that leads to a firm’s output. Thus, the agency problem inevitably arises in corporate governance. According to Jensen and Meckling (1976), agent problem arises from the conflict of interests between shareholders as the principals and the executives as the agents. Consequently, residual control rights fall into the hands of management instead of the residual cash flow claimants. As a result, the sum of monitoring expenditures be incurred by the principal, bonding expenditures incurred by the agent, and the value of the lost residual borne by the principal are included as the cost of agency. In general, when ownership of a firm becomes more dispersed, the agency problem will be deteriorated due to the inability of the relatively small shareholders to monitor the behavior of management. The monitoring of managers by shareholders is also weakened by free-rider problem. To mitigate the problem of agency, Ang (2000) and Denis and Sarin (1999) suggested the shareholding of management to be increased in order to make the executive a significant claimant. An inverse correlation exists between the dispersed ownership and firm performance (Berle and Means, 1932), because executives’ interests do not coincide with the interest of shareholders so that corporate resources are not used for the maximization of shareholders’ wealth. This view has been supported by many scholars. Shleifer and Vishny (1986), McConnell and Servaes (1990), and Zingales (1995) found a strong positive relationship between ownership concentration and corporate performance. In transitional economies, Xu and Wang (1999) and Chen (2001) found a positive relationship between actual firm performance and ownership concentration for a sample of listed Chinese companies. 3.2Ownership Structure It is common in Hong Kong, that ownership structure is characterized by single dominant owners (Chau & Leung, 2006). A report of the Corporate Governance Working Group of the Hong Kong Society of Accountants in 1995 indicated that a high concentration on family-controlled listed firms is highly entrepreneurial and opportunistic in their business strategies, however, the report also indicate that these firms with single dominant owners lack resources and corporate culture to maintain strong internal corporate control. The 2001 Review on Corporate Governance by the Hong Kong Standing Committee for Corporate Law Reform, as well as a report from Standard & Poor’s, indicated that family ownership structures present particular challenges. Theoretically, there is a major puzzle regarding the role of family in large firms (Bertrand & Schoar, 2006; Villalonga & Amit, 2006). In family-controlled firms, threatening factors may negatively influence the firms’ value (Demstez, 1983; Demstez and Lehn, 1985). Table 1 as below lists positive and negative factors affecting the relationship between family control and firm value. It shows that there is still difference of opinion among researchers on this topic of importance. 3.3â€Å"Family† Chief Executive Officers In this study, whether a person belonging to the family acts as a Chief Executive Officer is taken into account. We classify family-control and family-ownership when the board is made of a majority of related family members (â€Å"family-controlled board†). When it is not, we classify it as a â€Å"dispersed board†. Family Chief Executive Officers have substantial stockholdings of 5 percent or more (Daily & Dollinger, 1993), with such given bargaining power, can be expected to influence the size and structure of their remuneration packages to their own benefit. Thus, for the purposes of this study, Chief Executive Officers with stockholdings of less than 5 percent are not counted as â€Å"Family Chief Executive Officers†. There are differing opinions on whether such Family Chief Executive Officers have higher or lower remunerations at such family-controlled firms. Some believe that such Family Chief Executive Officers are receiving above-average compensation due to the family-controlled board, as well as their strong ability to influence remuneration committee. Oh the other hand, others take the opposite view and see that Family Chief Executive Officers should be receiving below-average compensation. There is several reasons for this expectation. First of all, both anecdotal (Applegate, 1994; Kets de Vries, 1993) and empirical (Allen & Pamian, 1982; Gomez-Mejia et al., 2001; Schulze et al., 2001) evidence suggest that incumbents with family ties to owners enjoy high employment security. As argued by Beehr (1997), the Family Chief Executive Officer inherently plays two overlapping and interdependent roles: a work role as steward of the company, and a non-work role as fulfillment of family obligations. In reciprocity for this role duality, the Family Chief Executive Officer is rewarded with a relatively assured job (Allen & Pamian, 1982; Kets de Vries, 1993; Gomez-Mejia et al., 2001). Moreover, some literatures suggested that evaluators are more likely to make positive performance attributions to employees when there are emotional ties between monitoring and those being judged (Cardy & Dobbins, 1993). It is expected that in family-controlled firms, board members in their role as monitors may be less inclined to attribute disappointing results to the Family Chief Executive Officer, giving the benefit of the doubt to the incumbent when interpreting ambiguous performance data. Agency theory suggests that there are inherent conflicts between shareholders and executives. Applying agency theory’s logic, the above scenario suggests that in family-controlled firms, risk adverse agents would trade higher job security for lower earnings if they are related to principals. Family Chief Executive Officers mitigate usual agency costs because of their aligned interests with the owners (Anderson & Reeb, 2003). The information asymmetry problem in agency relationships may also be reduced given the close ties between Family Chief Executive Officers and the owners. Since they hold high ownership stakes, Family Chief Executive Officers have sufficient incentives to place family welfare ahead of personal interests, thus may perform better than firms with non-family Chief Executive Officers. Barney (2001) suggested that appointing family members as Chief Executive Officers may be beneficial. Tradition, loyalty, and bonding relationships determine how resources are deployed in family firms. Family Chief Executive Officers build common interests and identities (Habbershon & Williams, 1999) and play a dual role by being both owners and executives (Chang, 2003; Yiu, Bruton, & Lu, 2005). Through social relationships with managers and employees, Family Chief Executive Officers may help to obtain intangible resources such as goal congruence, trust, and social interactions, providing valuable, unique, and hard-to-imitate competitive advantage (Chu, 2011; Liu et al., 2011; Luo & Chung, 2005). The Code on Corporate Governance Practices recommends remuneration committee to seek advice from the Chief Executive Officer on the matter of directors’ remuneration. Executives in firms controlled by a large shareholder receive more compensation for performance, than executives in firms lacking a controlling owner (Gomez-Mejia et al., 1987). Mehran (1995) examined the relationship between executive remuneration, ownership structure and firm performance. The results indicate that firms, which have more outside directors, have a higher percentage of executive remuneration in equity-based form. Moreover, the percentage of equity-based remuneration is inversely related to the outside directors’ equity ownership, i.e., the executive’s equity-based remuneration rose if the outside directors’ owned less of the company, and vice-versa. Next, Mehran (1995) turned to firm performance, and its relationship to executive remuneration and ownership structure. He used Tobin’s Q and return on assets as measures of firm performance. He found firm performance to be positively related to the percentage of executive remuneration that is equity-based. However, Mehran (1995) no relationship between firm performance and ownership structure. He concluded that the results support the notion that executive remuneration should be tied to firm performance. There is a vast amount of literature on turnover of the Chief Executive Officer position (Furtado and Karan, 1990; Kesner and Sebora, 1994; Finkelstein and Hambrick, 1996; Pitcher et al., 2000). However, according to Finkelstein and Hambrick (1996), the relationship between remuneration and turnover has not been subjected to rigorous empirical examination, even given the emphasis on retention as a justification for high remuneration of Chief Executive Officer. The following hypotheses are framed: Hypothesis 1: In family-controlled boards, Chief Executive Officers receive higher compensation. Hypothesis 2: Chief Executive Officers in family-controlled boards serve as Chief Executive Officer positions longer. 3.4Board Composition The role of the board is expected to represent shareholders, provide strategic guidance to and effective oversight of management, foster a culture of good governance, and promote a safe and healthy working environment within the company. In accordance to Hong Kong Stock Exchange Listing Rule 3.10, the board of directors is required to have at least three independent non-executive directors. The presence of â€Å"truly† independent non-executive directors in the corporate governance regime is seen as one way of mitigating agency problem associated with concentrated family ownership. In family-owned firms, given the influence of family control on the remuneration and performance relationships exists, where the majority of shares are in the hands of family members, under this circumstance, the executive and risk-bearer functions are merged and more of the wealth consequences of the executives’ decisions are internalized. In other words, there is less separation of ownership and control and thus lowering agency costs, which in turn leads to less cost for monitoring by outside directors. Therefore, firms closely controlled and managed by family members are expected to use lower proportion of outside directors compared with firms with disperse ownership. In widely held firms, with ownership dispersed among many investors, investors are often small and poorly informed to exercise even the control rights they actually have. Moreover, the free-rider problem faced by individual investors makes them uninterested in expending effort to learn about the firms they have financed, or even to participate in the governance (Shleifer and Vishny, 1997). As a result, the larger degree of separation of ownership and control in widely held firms leads to greater conflicts. The use of outside directors by widely held firms is expected to be more. 3.5Remuneration Committee In 1999, remuneration committees were uncommon in Hong Kong, with only few firms reporting their existence (Cheng & Firth, 2005). Since 2006, Hong Kong Stock Exchange proposes a rule to require issuers to set up a remuneration committee, with the committee chairman and a majority of the members being Independent Non-executive Directors. In family-owned firms, the positions of the Chief Executive Officer are usually held by family members, who can influence the level of remuneration paid to directors. The Code on Corporate Governance Practices recommends remuneration committee to seek advice from the Chief Executive Officer on the matter of directors’ remuneration. The Code on Corporate Governance Practices recommends that the majority of remuneration committee members be Independent Non-executive Directors. The presence of Independent Non-executive Directors on the remuneration committee is supposed to be used as monitoring mechanism that prevents excessive remuneration for executive directors (Basu et al., 2007), including that of the Chief Executive Officer. The role of independent non-executive directors and large institutional shareholders becomes crucial to curtailing the possible self-serving behavior of top managers (HKSA, 2001). Studies of firms in other countries show conflicting results on the relationship between remuneration and remuneration committee. Some findings show that remuneration committees tend to reduce remuneration, whereas others report the opposite (Conyon & Peck, 1998; Ezzamel & Watson, 1998). However, in practice it is highly likely that the Chief Executive Officer has some influence over the compensation decision (Murphy, 1999). An important question relating to the composition of remuneration committee concerns the ideal combination of outsiders and insiders. Insiders may face distorted incentives due to their lack of independence from the Family Chief Executive Officer (Bushman et al., 2004). 3.6 Components of Remuneration The basic components of remuneration of Chief Executive Officer are similar, however, the relative level and weights on the components differ (Abowd and Kaplan, 1999, and Bryan et al., 2006). Generally, remuneration of Chief Executive Officer can be divided into four basic parts: a base salary, an annual bonus which is tied to some accounting measure of company performance, stock options, and long-term incentive plans, such as restricted stock plans and multi-year accounting-based performance plans. †¢ Base salary: is the fixed part of remuneration of Chief Executive Officer, causing risk-averse executives to prefer an increase in base salary rather than an increase in bonuses. Most components of remuneration are specified relative to base salary. †¢ Bonus: in addition to the base salary, most companies offer their executives an annual bonus plan based on a single year’s performance. The purpose of such bonuses, as well as options, is to align the incentives of the Chief Executive Officer with that of the shareholders. †¢ Stock options: are contracts, which give the owner the right to buy shares at a pre-specified exercise price. Stock options reward stock price appreciation, not total shareholder return, which includes dividends. In this study, stock options are excluded, as full details of such information would not be retrievable from annual reports. †¢ Other forms of compensation: restricted stock to be received by executives, it is restricted in the sense that shares are forfeited under certain conditions, which usually have to do with the longevity of employment. Many companies also have long-term incentive plans in addition to the bonus plans, which are based on annual performance. Top executives routinely participate in supplemental executive retirement plans in addition to the company-wide retirement plans. Most executives have some sort of severance arrangement. Finally, executives often receive benefits in the form of free use of company cars, housing, etc. Based on the various conceptual and empirical evidences presented above, this study aims to understand whether the remuneration of a Family Chief Executive Officer is influenced by the board composition, i.e. whether it is family-controlled or not. This ties into the original Hypothesis 1, thus, the further hypotheses is framed as follows: Hypothesis 3: The higher the proportion of independent non-executive members on the board of directors at family-board-controlled firms, the lower the Chief Executive Officer remuneration.

Selection of Consultants Benefits Administration Operations Thesis Proposal

Selection of Consultants Benefits Administration Operations - Thesis Proposal Example 2.0 Project Terms of Reference 2.1 Introduction and Background LRH Financial is a global investment management firm. The company has been a pioneer in providing new and innovative investment management services to our clients worldwide. 2.2 Project Objective Employees are the most important resource an organization has and LRH recognizes the importance of providing employee well-being by offering state of the art benefits package to our employees. The objective of this project is to update Benefits Administration of LRH. This will improve and enhance the benefits package that our employees obtain from the company. 2.3 Project Scope LRH likes to outsource the following benefits administration operations to a vendor who can provide all of most of the following services, preferably for 5 years. The broad scope of this project covers the following (Wayne State University, n.d.): 2.3.1. Medical and Dental Insurance - Company offers a variety of medical insurance services like hospitalization expenses etc., to employees and their dependants. The vendor will manage the medical insurance records and claims. 2.3.2. Life Insurance - The vendor will develop procedures for maintaining life insurance files and systems for the company's employees. 2.3.3. Retirement Plan - Retirement allowances and severance pay etc. will be calculated and maintained by the vendor for the company. 2.3.4. Tuition Assistance Plan - The company offers tuition assistance to its employees' children. The records and related calculation systems will be operated by the vendor observing the company's directives. 2.3.5. Online access to Benefits Administration for self-service functionality - A self-service function will be available on the company's intranet where all...The objective of this project is to update Benefits Administration of LRH. This will improve and enhance the benefits package that our employees obtain from the company. LRH likes to outsource the following benefits administration operations to a vendor who can provide all of most of the following services, preferably for 5 years. The broad scope of this project covers the following (Wayne State University, n.d.): 2.3.1. Medical and Dental Insurance - Company offers a variety of medical insurance services like hospitalization expenses etc., to employees and their dependants. The vendor will manage the medical insurance records and claims. 2.3.4. Tuition Assistance Plan - The company offers tuition assistance to its employees' children. The records and related calculation systems will be operated by the vendor observing the company's directives. 2.3.5. Online access to Benefits Administration for self-service functionality - A self-service function will be available on the company's intranet where all the employees can have secured access to their benefits administration records. They should also be able to communicate with relevant vendor personnel to resolve any queries they might have.

BUSINESS ANALYSIS - JOHN LEWIS PARTNERSHIP Essay

BUSINESS ANALYSIS - JOHN LEWIS PARTNERSHIP - Essay Example Initially started as a draper store in Oxford Street London, the firm has been able to make critical progress over the period of time by making acquisitions of strategic nature. The very structure and organization of the firm therefore provides it a unique identity and organizational culture which has allowed it to develop and grow over the period of time. A closer analysis of the financial performance of the firm would suggest that it has been able to continuously register an increase in its profitability and revenues. Such consistent performance of the firm therefore indicates that it is one of the leading businesses with stable revenues and profitability. This report will analyse the strategic position of John Lewis Partnership, making direct reference to the key challenges and opportunities for the organistaion and the capabilities which John Lewis can utilise in addressing these issues besides critically evaluating the current strategy of John Lewis and comment on their appropri ateness to the competitive position. A Brief History of John Lewis Partnership John Lewis Partnership started as a draper store in Oxford Street, London in 1864 by John Lewis. The store later on went on to become the departmental store when Mr. Lewis started to purchase other stores and started to expand his business. The store thrived on the promise that the prices will be low as long as long as the prices of the neighborhood stores are low. This strategy seems to have worked for the store and store soon started to grow and generate higher levels of sales. In 1905 John Lewis purchased Peter Jones and made a change towards becoming a departmental store. It was during 1914 that John Lewis gave control of Peter Jones to his son who started the store on more modern footings and implemented new organizational changes including making employees as partners in the firm. 1 During 1955, firm opened first Waitrose store and the management also changed from Lewis family to Bernard Miller. How ever, after the retirement of Miller, the management of the firm was transferred back to the family. Management again changed during 1990s when Peter Lewis retired as Chairman of the firm. John Lewis’s major strategic change occurred with the launch of its online store during 2001 and the establishment of Ocado. Ocado was opened in order to deliver the grocessories purchased on Waitrose. (Wilson & Reynolds, 2006). John Lewis is now in the top 10 list of retailers in the country with more than 30 John Lewis Stores and 246 Waitrose supermarkets.2 SWOT Analysis SWOT Analysis of the firm is as follows: Strengths 1. Rich history of successfully operating for more than 200 years. 2. Overall organizational structure and democratic nature of the firm. 3. High level of employee motivation because of employee partnership in the business. (Russell, 2010). 4. Large and diversified network of stores and web stores. 5. Efficient and effective supply chain management system. 6. High brand r ecognition and value in the eyes of customers Weaknesses 1. Only caters to the mid and high end customers. 2. Privately owned partnership therefore restricting itself to procure cheaper funds from capital markets. 3. Largely concentrated into UK with no or very little presence abroad. 4. Too few departmental stores across the country i.e. less than 30 considering 200 years history of