Accounting Theory Essay Example | Topics and Well Written Essays - 750 words - 1

Accounting Theory - Essay Example Researchers use various methods and techniques to collect data, which is then analysed to create knowledge (Saunders, Lewis & Thornhill, 2012). Knowledge in this research refers to accounting facts and skills that people acquire through experience or education (Easterby- Smith,Thorpe, Jackson & Lowe, 2008). The interest of researchers during study processes constitutes establishing whether beliefs are in agreement with the facts. This paper focuses on ascertaining that various phenomena in accounting are real and they have particular characteristics. We intend to help readers know that various accounting information presented to stakeholders by accountants is characterised by validity, relevance, and reliability. Knowledge acts as a tool through which researchers communicate accounting information to humans (Given, 2008); therefore, proper research is critical founded on effective research philosophy is critical in knowledge generation. We had two approaches from which we were to choose one approach for this study; these are positivism and phenomenology. The selected approach for this paper was phenomenology. Phenomenology is a style of thought or method of systematically reflecting on and studying the structures of consciousness and all phenomena appearing in acts of consciousness (Given, 2008). Phenomenology adopts an induction approach, which is critical in collecting qualitative data and some quantitative data for further supporting beliefs about the accounting profession. Using inductive reasoning, we moved from specific observations to broader generalisations and theories concerning business accounting. While using this approach, we made three assumptions; first, the world subjective and socially constructed. Therefore, it is through the existence of human beings that the world receives meaning. Through our research on petroleum companies, we gave meaning to the world concerning the performance of the selected companies during the period of

The Us Foreign Policy Essay Example for Free

The Us Foreign Policy Essay The political norm â€Å"domestically earned and internationally achieved† can be attributed to the famous 25-year old American National Guard pilot Charles A. Lindenberg who was the first person to fly solo on his Spirit of St Louis Airplane non-stop across the Atlantic Ocean and landed at the Le Bourget Aerodrome in Paris on May 21st 1927 (Jantunen, 1998). Basically, the norm domestically earned and internationally achieved lays the chronicle of Lindenberg who then worked with the US Air force and Defense Department, wherein his famous voyage was patterned by the US’ foreign defense strategy in World War II during the 1930’s (Cole, W. , 1998; in Jantunen, A. , 1998). As a result, the US domestic affairs were able to cross international borders and foster foreign relations that eventually led to the creation of its foreign policies. The use and review of literatures will be the guiding methodology of this paper which will discuss the US’ interstate (domestic) and intrastate (international) affairs in view of evolving its foreign policy. Influences that shape US foreign policy The democratic processes involving the sovereign will of the people are the bottom-line of policy initiatives through legislation. On the other hand, situational factors primarily influence the sudden enactment of a policy. According to the book, ‘American Public Policy: An Introduction’, published in 2006 by Clark Cochran, Lawrence Mayer, T. Carr and N. Joseph Cayer, policies are classified according to purposes, types, and goods. Basically, the classification of a public policy plays a key role in promoting moral and social values. For example, if the classification of a public policy pertains to preserving domestic peace and order, it also results in the formation of international treaties against terrorism by allied governments. In other words, a policy has a dual role— in order to secure the interstate (domestic), there must be an intrastate (foreign) policy consistent with preventing the vulnerability of the people and state from potential external attacks or threats of terrorism. The 9/11 Tragedy objectively result in a large public influence that resolutely condemned and abhorred terrorism. In effect, the US Congress has legislated and enacted series of homeland defense and security policies that has presently empowered the National Strategy for Homeland Security Act of 2007. The enforcement of that policy works within the intrastate strategic framework, in which the scope of enforcement crosses international borders. In sum, it may be perceived that US foreign policy represents the domestic needs of the people or the interest of the state to uphold the economic resources and political affairs of the government. Moreover, the processes in creating US foreign involve various international perspectives. President’s formal and informal foreign policy making powers The Presidents formal and informal foreign policy-making powers today work two ways— first, the President being the Chief Executive, can veto a decree or enact orders having the formal constitutional mandate and second, he or she informally can influence ministerial function through the so-called â€Å"mandamus duty† [having extraordinary writ commanding an official to perform a ministerial act that the law recognizes as an absolute duty and not a matter for the officials discretion] as exemplified by the enactment of National Strategy for Information Sharing (NSIS) in year 2007 (E. O. 13356, 2006; Sec. 11; in NSIS, 2007). The formal and informal Presidential powers may be deduced as a combined political capability of the President that emphasizes the â€Å"political will† in enacting or rejecting policies that may be favorable or unfavorable to both political and economic affairs of the government. Moreover, these powers may be best described by the historical process of US foreign policy creation that can be traced in the Monroe Doctrine. Based on Steven W. Hook’s book, ‘U. S. Foreign Policy: The Paradox of World Power’, the National Security Act of 1947, which created the Department of Defense (DOD), the National Security Council (NSC), and the Central Intelligence Agency (CIA), provides an excellent example of how policy decisions are largely made from prior policy experiences. Hook pointed out that the combination of formal and informal political powers most likely becomes a personal preference on the political will of the president, in which today, according to Hook, the â€Å"Bush Doctrine† has supplanted the Monroe Doctrine that once opposed the European foreign policy. In short, Hook’s perception reflects the presidential formal and informal policy making powers today that subsist a culture of the United States foreign policy which is considered both moralistic and self-interested and which stems from geographical factors and colonial history (Hook, 2007). Significance of political terminologies Based on the interpretation of Roberta Tovey (2000), author of the article ‘Best Firms More Alike Than Different Around the Globe’, an adhocracy refers to an organization that lacks structure, which is opposite to a â€Å"bureaucracy†. In short, adhocracy pertains to the creation of a task group also called as â€Å"ad-hoc† (impromptu), which is a type of structure that can be found in creativity-based companies which are flexible as new projects arise. To cite the case of the â€Å"Watergate Scandal† implicating former US President Richard Nixon, the term â€Å"political questions† include the conduct of foreign policy, the ratification of constitutional amendments, and the organization of each states government as defined in its own constitution. The rule preventing federal courts from deciding such cases is called the political question doctrine (United States v. Nixon, 418 U. S. 683, 94 S. Ct. 3090, 41 L. Ed. 2d 1039; US-DOJ, 1974; in Legal Dictionary, 2008). During the time of former US President Harry Truman, the National Security Act of July 26, 1947 created the National Security Council under the chairmanship of the President, with the Secretaries of State and Defense as its key members, to coordinate foreign policy and defense policy, and to reconcile diplomatic and military commitments and requirements (US-Public Law 80; 253, 1947; in NSC, 2008). As cited from the US Public Law, the alliances of political personalities in US government agencies, the interest groups of lobbying organizations, and the legislative committee members with jurisdiction over a particular functional area of government policy are said to be â€Å"triangles strong as iron. The relationships are so politically powerful that it directly influence and interferes with the general interests in policy-making. Moreover, in a Presidential turn over ceremony (farewell speech) of US former President Dwight Eisenhower in 1961, he stated that â€Å"the immense military establishment and a large arms industry is new in the American experience that influence economic, political, even spiritual aspects felt in every city, every State house, every office of the Federal government†. Eisenhower defined the term â€Å"military-industrial complex† or MIC which refers to the US Armed Forces’ suppliers of weaponry, services, and civil government (Eisenhower, D. , 1961). Conclusion Based on the brief review of the US foreign policy, it may be concluded that it has earned domestic power and achieved international dominance. The presidential â€Å"political will† amidst public dispensation basically evolves and transforms the intrastate affairs. It may also be deduced that the political system develops these dominant powers result in foreign policies that could either be beneficial or detrimental to international boundaries. References Carr, T. , Cayer, J. N. , Cochran, C, and Mayer, L. , and (2006). ‘American Public Policy: An Introduction’.Thompson/Wadsworth Publishing, 8th Edition. ISBN: 0-534-60163-4. Hook, S. W. (2007) ‘U. S. Foreign Policy: The Paradox of World Power’. CQ Press, 2nd Edition, ISBN 978-0-87289-466-2. Retrieved 10 April 2008 from http://www. cqpress. com/product/US-Foreign-Policy-The-Paradox-of-World. html. Jantunen, A. (1998). ‘Developing for Peace: An Analysis of Charles A. Lindbergh’s Views on American Foreign Policy’. Retrieved 10 April 2008 from http://www. charleslindbergh. com/pdf/lindbergh2. pdf. Legal Dictionary (2008). ‘Political Question’. United States v. Nixon, 418 U. S. 683, 94 S. Ct. 3090, 41 L. Ed. 2d 1039, US-DOJ (1974). Retrieved 10 April 2008 from http://legal-dictionary. thefreedictionary. com/Political+question+doctrine. National Strategy for Information Sharing. (2007). ‘Information Sharing: Successes and Challenges In Improving Terrorism- Related Information Sharing’. Retrieved 10 April 2008 from http://www. state. gov/html. Roberta, T. (2000). ‘Best Firms More Alike Than Different Around the Globe’. Retrieved 10 April 2008 from http://www. msi. org. US Department of State (2007). ‘National Strategy for Homeland Securit

Age of Reason Essay -- Enlightenment

An Age of Reason â€Å"Those who can make you believe absurdities can make you commit atrocities.† This brief quotation was spoken by the famous writer and philosopher Voltaire; I believe it vaguely points out that some people are full of absurd ideas, and for others to follow such nonsense is foolish. The quote is just a taste of Voltaire’s wisdom and knowledge of the world, during the Age of Reason. The Age of Reason or The Enlightenment is defined as a change in not just a way of thinking, but an establishment of values and rational actions. â€Å"Based on Immanuel Kant’s essay â€Å"What is Enlightenment?† it is the freedom to use one's own intelligence (Strathern 63). Enlightenment thinkers believed in the powers of humankind and saw themselves as part of a revolutionary development in history that would replace superstition and tired rituals and corrupt traditions with reason and productive energy. However, intelligence and freedom two words that express what I bel ieve to be the main ideas of the Enlightenment and such ideas were recognized through two significant people Voltaire and Jefferson. To begin, the first figure of the Enlightenment would be Francois Marie Arouet aka: Voltaire. He was born in Paris, and he was known as one of the greatest writers and philosophers for the French. However, the French during his time period did not wish it so, because Voltaire had a passion for philosophical rationalism and this passion was fueled after he was exiled from France and went to England. Previous the exile, he was also locked in the Bastille for insulting a French noble-man. Voltaire was a man of sharp wit and high valued opinions, because of this trait he often got into trouble. However, it was because of this trait and a p... ... was a complex movement, that is recognized in today’s world perspective as the source of our modern secular worldview; form our ideas of religious toleration, individual liberty and free speech to the practices of our representative government, and unregulated profitable development. Works Cited 1. Brians, Paul. The Enlightenment. Washington State University, 2000. Web. 2. Coates, Robert Eyler. Thomas Jefferson on Politics & Government. Jefferson Parish, LA: University of Virginia, 1995. Web. 3. Gray, John. Voltaire: The Great Philosophers. New York: Routledge, 1999. Print. 4. Strathern, Paul. Kant in 90 Minutes. Chicago: Ivan R. Dee, 1996. Print. 5. Staloff, Darren. Hamilton, Adams, Jefferson: The politics of the Enlightenment And The American Founding. New York: Hill and Wang. 2005. Print.

The Thankyou Letter :: essays papers

The Thankyou Letter I doubt that the format of this letter brings any true romance to what I am about to say, as typed words and printed letters are harsh and unfeeling. In this day and age, however, I suppose that this is a faster and easier way than paper and ink, a letter scratched out lovingly by hand. Don’t read it as such†¦as sterile and unfeeling. For the words I put down here are the same, if more fluid, than those of anything I could possibly write using the more traditional methods. And please don’t be daunted by the flowery prose that I am using, as presently I am in a strange, floating mood that leaves the room for nothing but softness and exaggeration of expression in what I feel. I’m sitting here at home looking through what seems like a whole other lifetime of â€Å"stuff† and I’m thinking of you. I’m thinking of you and I like what is running through my head. My heart is presently jumbled; anxious, ill suited for simply sitting around with nothing to do. I want a change somehow, and I do not know where, or how, or why. All I know is I’m worried and the thought of you can no longer make it better. To say that things in my life are changing would be an understatement. To say that they are constantly doing so would be a bit of a lie. As there have been times when I have been stuck in the same rut, floating about in a sea of ennui and non-movement. Still, I’m afraid of change, to be honest with myself and with you. I’m terrified of it. I’m a creature of habit and though on the surface I can appear chaotic and unpredictable, I find solace and comfort in that which is stable, that which does not rock the boat, as it were. But paradoxically, that same comfort is what kills me, what rips apart my creativity and dulls every sense I lay claim to. You changed that and I was and am no longer sitting still, I’m moving forward, sometimes moving in to something unknown and wonderful, sometimes being shoved so fast into it I can’t quite see what’s around me. It was beautiful, the feeling.

Effective Communication Skills

Effective communication skills in nursing Within this assignment I will be looking at the importance of effective communication skills in the nursing profession. I will briefly explore the meaning of communication and then look at different styles of effective communication. I will include a wide range of references to support my findings and then offer a conclusion regarding the importance of communication with the patient and other agencies. There are a large number of communication models and meaning’s, which in itself indicates that communication is a huge subject and difficult to pin to a simple explanation (Webb 2011).Donnelly (2008) agrees with this by writing that a concise definition is difficult to achieve due to the term â€Å"communication† having a long list of meanings. Good communication between patients and nurses is at the core of good nursing care, which will ensure the development of a therapeutic relationship (Stein- Parbury 2009). Donnelly (2008) su pports this by stating that at the very heart of effective nursing, communication is the key to delivering high-quality care. Donnelly (2008) states that effective communication is recognised as a core condition for all people who work in public service. Also read: Communication Cycle ArgyleIn Health and Social care services effective communication promotes the best possible nursing care (Donelly 2008). Donelly (2008) writes that the way we communicate with people who use nursing service’s or facilities has a direct impact on how care is perceived and experienced by the user. Collins (2009) agrees by stating that communication is therapeutic, that building relationships is the foundation of nursing work, and communication is a requirement to that process.If we can recognise how communication takes place and comprehend its process we can develop strategies to ensure that communication is effective and meets the needs of all patients’. Within Nursing there are many ways of communicating with patients. The NMC standards for pre-registration nursing education (NMC, 2010) stipulate that â€Å"Within the domain for communication and interpersonal skills, all nurses must do the following, communicate safely and effectively, u sing a range of communication skills and technologies† (NMC 2010).Hamilton (2007) agrees with this by stating that nurses should try to relate with patients using the full range of communication skills at their disposal, to help patients understand that nurses are there to assist as much as they possibly can. These communication skills range from verbal, non-verbal, and written communication. Burnard (2005) explains that we communicate to some degree with words. But also we communicate to a large degree with our bodies. This can be classed as non-verbal. Some aspects of non-verbal communication we use would be eye contact, facial expressions and hand gestures.Burnard (2005) also writes about the importance of listening. Burnard states that the listening skill is an important form of non-verbal communication and being listened to is vital as everybody needs to be listened to. Stein-Parbury (2009) states that, listening encourages further interaction between patient and nurses; it is a catalyst in promoting a trusting therapeutic relationship. Collin (2009) agrees with this by writing when patients feel listened to it gives a sense of connection enabling the relationship to progress. Wright (2007) writes about another non-verbal behaviour which is described as â€Å"body talk†.This would include hand gestures. Some body talking can suggest a certain state of mind, for example a patient pacing, unable to sit for any time or wringing of the hands may suggest that this patient is in distress. Webb states that folding of the arms can display defensive non-verbal communication; it can show that a patient is feeling anxious or threatened in some way. If this is displayed by the nurse it may suggest to the patient that the nurse is dis-interested which will form a barrier between the patient and nurse. To avoid such barriers Egan (1998) suggests that the use of the SOLER theory.The theory  Soler  was created by Egan (1998) to help the communication bet ween the nurse and the patient. His theory shows that basic non-verbal communication can help make a patient feel involved and cared for when working with the nurse. Soler stands for- S: facing the client or family  squarely, both metaphorically and literally O: adopt an  Open,  non-defensive posture L:  Lean forward toward the family to show interest E: make good  Eye Contact R: stay  Relaxed. But there are other forms of communication that need to be effective when delivering nursing care.The nurse needs to ensure that they are able to communicate well within the organisation and with others. Donnelly (2008) points out that when identifying the needs of those we care for we must also distinguish the role of others in providing for people’s needs. There is a risk within service provision to see only that which we can offer and ignore what others agencies and professionals can provide. Effective care depends on us being able to work in partnership, ensuring those we care for receive the best possible care. There are many others modes of communication; the written word is required when working with people (Donelly 2008).The NMC (2008) states that you must keep clear and accurate records of the discussions you have, the assessments you make, the treatment and medicines you give and how effective these have been. You must complete records as soon as possible after an event has occurred, the nurse must not tamper with original records in any way, the nurse must ensure any entries you make in someone's paper records are clearly and legibly signed, dated and timed, the nurse must ensure any entries you make in someone's electronic records are clearly attributable to you, and also ensure all records are kept securely (NMC 2008).Conclusion Whilst preparing for this essay, I did not fully understand the importance of communication and how we are understood by patients. After researching and evaluating, I now understand the importance of effective ver bal communication with appropriate body language, also the importance of non-verbal communication using good eye contact and hand gestures. I have now learnt that to become a good nurse you need to be able to use a wide range of communication to be able to fully care for the patient. These skills are equally important when dealing with agencies.Burnard, P. (2005) Counselling Skills for Health Professionals. Nelson Thornes: Cheltenham: Collins. S, (2009) Good communication helps to build a therapeutic relationship: http://www. nursingtimes. net (accessed 24 April 2012) Donnelly, E. Neville, L. (2008) Communication and Interpersonal Skills, 1st Ed. Reflect Press Ltd: Devon. Egan, G. (1998). The Skilled Helper. Wiley: Chichester Hamilton. S, J (2007) Clinical Development: A framework for effective communication skills : http://www. nursingtimes. et (accessed 24 April 2012) Nursing and Midwifery Council (2008) The code: Standards of conduct, performance and ethics for nurses and midwive s. NMC:  London Nursing and Midwifery Council (2010) Standards for Pre-registration Nursing Education: Draft for Consultation. NMC:  London Stein-Parbury, J. (2009) Patient and Person: Interpersonal Skills in nursing, 4th Ed. Elsevier: Australia Webb, L. (2011). Nursing: Communication Skills in Practice. Oxford University Press, Oxford. Wright, B, (2007) Interpersonal Skills: Skills for Caring. M&K Publishing: Cumbria . Effective Communication Skills Effective communication skills in nursing Within this assignment I will be looking at the importance of effective communication skills in the nursing profession. I will briefly explore the meaning of communication and then look at different styles of effective communication. I will include a wide range of references to support my findings and then offer a conclusion regarding the importance of communication with the patient and other agencies. There are a large number of communication models and meaning’s, which in itself indicates that communication is a huge subject and difficult to pin to a simple explanation (Webb 2011).Donnelly (2008) agrees with this by writing that a concise definition is difficult to achieve due to the term â€Å"communication† having a long list of meanings. Good communication between patients and nurses is at the core of good nursing care, which will ensure the development of a therapeutic relationship (Stein- Parbury 2009). Donnelly (2008) su pports this by stating that at the very heart of effective nursing, communication is the key to delivering high-quality care. Donnelly (2008) states that effective communication is recognised as a core condition for all people who work in public service. Also read: Communication Cycle ArgyleIn Health and Social care services effective communication promotes the best possible nursing care (Donelly 2008). Donelly (2008) writes that the way we communicate with people who use nursing service’s or facilities has a direct impact on how care is perceived and experienced by the user. Collins (2009) agrees by stating that communication is therapeutic, that building relationships is the foundation of nursing work, and communication is a requirement to that process.If we can recognise how communication takes place and comprehend its process we can develop strategies to ensure that communication is effective and meets the needs of all patients’. Within Nursing there are many ways of communicating with patients. The NMC standards for pre-registration nursing education (NMC, 2010) stipulate that â€Å"Within the domain for communication and interpersonal skills, all nurses must do the following, communicate safely and effectively, u sing a range of communication skills and technologies† (NMC 2010).Hamilton (2007) agrees with this by stating that nurses should try to relate with patients using the full range of communication skills at their disposal, to help patients understand that nurses are there to assist as much as they possibly can. These communication skills range from verbal, non-verbal, and written communication. Burnard (2005) explains that we communicate to some degree with words. But also we communicate to a large degree with our bodies. This can be classed as non-verbal. Some aspects of non-verbal communication we use would be eye contact, facial expressions and hand gestures.Burnard (2005) also writes about the importance of listening. Burnard states that the listening skill is an important form of non-verbal communication and being listened to is vital as everybody needs to be listened to. Stein-Parbury (2009) states that, listening encourages further interaction between patient and nurses; it is a catalyst in promoting a trusting therapeutic relationship. Collin (2009) agrees with this by writing when patients feel listened to it gives a sense of connection enabling the relationship to progress. Wright (2007) writes about another non-verbal behaviour which is described as â€Å"body talk†.This would include hand gestures. Some body talking can suggest a certain state of mind, for example a patient pacing, unable to sit for any time or wringing of the hands may suggest that this patient is in distress. Webb states that folding of the arms can display defensive non-verbal communication; it can show that a patient is feeling anxious or threatened in some way. If this is displayed by the nurse it may suggest to the patient that the nurse is dis-interested which will form a barrier between the patient and nurse. To avoid such barriers Egan (1998) suggests that the use of the SOLER theory.The theory  Soler  was created by Egan (1998) to help the communication bet ween the nurse and the patient. His theory shows that basic non-verbal communication can help make a patient feel involved and cared for when working with the nurse. Soler stands for- S: facing the client or family  squarely, both metaphorically and literally O: adopt an  Open,  non-defensive posture L:  Lean forward toward the family to show interest E: make good  Eye Contact R: stay  Relaxed. But there are other forms of communication that need to be effective when delivering nursing care.The nurse needs to ensure that they are able to communicate well within the organisation and with others. Donnelly (2008) points out that when identifying the needs of those we care for we must also distinguish the role of others in providing for people’s needs. There is a risk within service provision to see only that which we can offer and ignore what others agencies and professionals can provide. Effective care depends on us being able to work in partnership, ensuring those we care for receive the best possible care. There are many others modes of communication; the written word is required when working with people (Donelly 2008).The NMC (2008) states that you must keep clear and accurate records of the discussions you have, the assessments you make, the treatment and medicines you give and how effective these have been. You must complete records as soon as possible after an event has occurred, the nurse must not tamper with original records in any way, the nurse must ensure any entries you make in someone's paper records are clearly and legibly signed, dated and timed, the nurse must ensure any entries you make in someone's electronic records are clearly attributable to you, and also ensure all records are kept securely (NMC 2008).Conclusion Whilst preparing for this essay, I did not fully understand the importance of communication and how we are understood by patients. After researching and evaluating, I now understand the importance of effective ver bal communication with appropriate body language, also the importance of non-verbal communication using good eye contact and hand gestures. I have now learnt that to become a good nurse you need to be able to use a wide range of communication to be able to fully care for the patient. These skills are equally important when dealing with agencies.Burnard, P. (2005) Counselling Skills for Health Professionals. Nelson Thornes: Cheltenham: Collins. S, (2009) Good communication helps to build a therapeutic relationship: http://www. nursingtimes. net (accessed 24 April 2012) Donnelly, E. Neville, L. (2008) Communication and Interpersonal Skills, 1st Ed. Reflect Press Ltd: Devon. Egan, G. (1998). The Skilled Helper. Wiley: Chichester Hamilton. S, J (2007) Clinical Development: A framework for effective communication skills : http://www. nursingtimes. et (accessed 24 April 2012) Nursing and Midwifery Council (2008) The code: Standards of conduct, performance and ethics for nurses and midwive s. NMC:  London Nursing and Midwifery Council (2010) Standards for Pre-registration Nursing Education: Draft for Consultation. NMC:  London Stein-Parbury, J. (2009) Patient and Person: Interpersonal Skills in nursing, 4th Ed. Elsevier: Australia Webb, L. (2011). Nursing: Communication Skills in Practice. Oxford University Press, Oxford. Wright, B, (2007) Interpersonal Skills: Skills for Caring. M&K Publishing: Cumbria .

Operating Exposure Essay Example

Operating Exposure Essay Example Operating Exposure Paper Operating Exposure Paper Xian- Janssen Pharmaceutical (China) and the Euro INTERNATIONAL FINANCIAL MANAGEMENT Case Questions and Answers 1. How significant an impact do foreign exchange gains and losses have on corporate performance at XJP? What is your opinion of how they structure and manage their currency exposures? During 2003, the dramatic raise in the value of Euro against the dollar resulted in foreign exchange losses of Rmb 75 billion, out of which Rmb 60 billion were charged as 2003 cost of hedging. The year of 2003 proved to be fortunate for the XJP Company, housing fund adjustment and inventory valuation reversal recorded extraordinary gains of Rmb 70 billion. These gains had lessened the negative influence of the foreign exchange losses on the company’s net earnings resulting in a net increase of Rmb 10 billion. In 2004, The Company estimated the Euro to further appreciate relative to the US dollar. Estimated foreign exchange losses were Rmb 75 billion. Since the year 2004 is unlikely to be fortunate like 2003, the appreciation of the Euro is estimated to affect the profitability of the company and result in a reduction of 4. 6% in net earnings. I think XPY Company should consider getting raw material and finished products from suppliers, other than JJ, specifically who are based in countries where currencies are pegged to the US dollar. Moreover, the company should negotiate and discuss the possibility of setting lower internal transfer prices and applying centralized hedging practices where the parent company attempt to net transaction exposure of all its subsidiaries. . JJ has roughly 200 foreign subsidiaries worldwide. It has always pursued a highly decentralized organizational structure, in which the individual units are responsible for their own performance from the top to the bottom line of the income statement. How is this reflected in the situation XJP finds itself? Examining the case of XJP along with the losses generated from FX movements and hedging costs, decentralized organizational structure proved to be inefficient. In this example, granting XJP Company the full responsibility to manage currency risks and bear hedging costs negatively affected the company’s profitability. However, I still believe that the management of XJP Company should be given a room of freedom (decentralization) in other areas like deciding from where to import and with whom to deal. Moreover, the company should be given the opportunity to produce more than just generic products, to positions its differentiated products and to market them. 3. What is the relationship between actual spot exchange rate, the budgeted spot exchange rate, the forward rate, and the expectations for the Chinese subsidiary’s financial results by the U. S. parent company? Actual spot exchange rate is defined as rate of a foreign-exchange contract for immediate delivery. It’s basically the actual and current price of one currency in terms of the other. The budgeted spot exchange rate is estimated by the company to be the rate of a foreign-exchange contract for immediate delivery at a certain point of time. Normally, companies estimate or forecast the spot exchange rate to plan, budget and form expectations and strategic plans. This rate can be estimated by the company’s researchers, economists or third party consultants. The forward rate is the rate of a foreign-exchange contract for future delivery With regards to the case study of XJP Company, the forecasted or budgeted spot exchange rates proved to be deviating from the actual average forward rates. For example, in 2003, the company budgeted spot exchange rate (euro/Rmb) at 8. and since the expected import purchase was million 121 euros, the company estimated import purchases to be (8. 6 X million 121 euro), which is Rmb 1. 0406 billion. However, as the actual average forward rate of the euro reached 9. 22, the company’s actual cost of imports recorded Rmb 1. 11562 billion, resulting in Rmb 75. 020 million losses due to cost of hedging. With regard to 2004 budget figures, the company budgeted spot exchange rate (euro/R mb) at 9. 8 and since the expected import purchase was million 145 euros, the company estimated import purchases to be (9. X million 145 euro), which is Rmb 1. 42296 billion. However, as the actual average forward rate of the euro reached 10. 5, the company’s actual cost of imports recorded Rmb 1. 5246 billion, resulting in Rmb 101. 64 million losses due to cost of hedging. Analyzing the effect of the exchange rate movement and cost of hedging on the financial figures of XJP, JJ underestimated the significant role played by exchange rate movement and cost of hedging on the gross cost of product sold of its subsidiary. It’s obvious that the parent company had set the objective of 20% growth in earning without considering the high cost of hedging and foreign exchange losses. 4. If you were Paul Young, what would you do? The answer to this question depends on whether Paul wants to tradeoff risk for return, in other words, it depends on whether he is concerned about meeting JJ’s objective of achieving 20% growth rate. If he decided to fulfill the JJ’s objected growth rate, then he is advised not to hedge against foreign exchange movements. Under this situation, he will expose the company to a greater currency risk, while at the same time, he would be able to meet and fulfill the required growth rate by the parent company. On the other hand, if Paul decided to hedge XJP’s position and its gross cost of goods sold against currency risk, he would definitely fail to meet JJ’s expectations due to high cost of hedging, while at the same time, he will expose his company (XJP) to a much lower currency risk. In other words, if Paul happened to be a conservative manager, he will most probably favor hedging the company’s gross cost of products sold against currency movements, therefore, sacrificing high profit rates. However, if he happened to be an aggressive and risk taking manager, them he would choose to unhedge the company’s gross cost of products sold therefore, exposing XJP Company to a much greater currency risk.

A phobia is an excessive or unreasonable fear of an object.

A phobia is an excessive or unreasonable fear of an object. PHOBIASA phobia is an excessive or unreasonable fear of an object, place or situation. Simple phobias are fears of specific things such as insects, infections, flying. Agoraphobia is a fear of being in places where one feels "trapped" or unable to get help, such as in crowds, on a bus, or standing in a queue. A social phobia is a marked fear of social or performance situations.Phobias are extremely common. Sometimes they start in childhood for no apparent reason; sometimes they emerge after a traumatic event; and sometimes the develop from an attempt to make sense of an unexpected and intense anxiety or panic (e.g. "I feel fearful, therefore I must be afraid of something").When the phobic person actually encounters, or even anticipates being in the presence of the feared object or situation, she/he experiences immediate anxiety. The physical symptoms of anxiety may include a racing heart, shortness of breath, sweating, chest or abdominal discomfort, trembling, etc.Phobia 2and the emo tional component involves an intense fear - of losing control, embarrassing oneself, or passing out.Commonly people try to escape, and then to avoid the feared situation wherever possible. This may be fairly easy if the feared object is rarely encountered (e.g. fear of snakes) and avoidance will not therefore restrict the person's life very much. At other times (e.g. agoraphobia, social phobia) avoiding the feared situation limits their life severely. Escape and avoidance also make the feared object/situation more frightening.With some phobias the person may have specific thoughts, which attribute some threat to the feared situation. This is particularly true for social phobia where there is often a fear of being negatively evaluated by others, and for agoraphobia when there may be a fear of collapsing and dying with no one around to help, or of...

Information on Armadillidum vu essays

Information on Armadillidum vu essays Armadillidum vulgare or commonly know as pill bugs or roly-polys are dark gray, Â ¼ inch long humpbacked, oval isopod crustaceans. They look like they are covered in a segmented armor. Pill bugs are often misstated for sow bugs. They can be distinguished from sow bugs because pill bugs are able to roll themselves up into a ball when alarmed, and they lack the two prominent tail-like appendages (arrowexterminating.com/insects2.html#PB). Roly polys are found in damp, humid, and cool conditions. They are easily found in the seasons of autumn and spring. They are easily found around home in compost sites, or under shelter such as rocks, bark n and boards left in shady, moist conditions. Also they might be found fairly deep in damp soil litter under the cover of trees or bushes. Hot summer temperatures cause roly-polys to dig deeper into their shelter, so they are harder to locate. Also the cold winter temperatures cause them to def deeper into shelter (seds.org/nineplanets/nineplanets/venus.html). Lots of the behavioral responses of roly-polys are mostly with conservation of water and the need to avoid desiccation. Lots of roly-polys are terrestrial, but most other crustacea are aquatic. This means they dont have some of the in different terrestrial arthropods, like insects and spiders. Roly polys are more likely to loose water by diffusion faster than many other species, because they have a pretty high surface area to volume ratio. Water will diffuse through there exoskeleton faster than in other arthropods, because they lack a waxy, waterproof cuticle (seds.org/nineplanets/nineplanets/venus.html). Roly polys have pore openings to the outside of their bodies to allow gases to go in and out of their pseudo-lungs. This pore opening cannot be closed, so water is able to continuously diffuse from the inner surface of the psuedo-lung out of the body. The water lost has to be replaced...

Nursing journal article on lupus and alternative treatment Essay - 1

Nursing journal article on lupus and alternative treatment - Essay Example Lupus is a disease whereby the immune systems of the body attacks the normal and healthy body tissues; thus contributing to various complications such as swelling, damage of the skin, joints and kidneys or heart. Therefore, the article addresses about the issue of lupus and the alternative treatment measures for the disease. The author approaches the problem through caring out statistical analysis and reveals the case study survey of some patients who employs alternative treatment approaches for relieving pain. The author approaches the problem through conducting study analysis in order to obtain effective results about lupus disease and the alternative treatments. First, the author employed varied case studies, which include people who have been diagnosed with lupus and reveals the ideas provided by doctors on the process of carrying out research on this disease. For instance, the author reveals some study analysis conducted by Garbett, who was diagnosed with lupus (Kertesz, 2012). Garbett and other physicians from the associate fellowship program, Arizona University conducted the research study in order to determine the issues of lupus and the alternative treatment for this disease. The study carried out reveled that Garbett was able to cope up with the discomfort nature caused by lupus disease through eating of a balanced diet. According to Kertesz (2012), Garbett followed proper diet by taking good carbohydrate, low fat levels, omega-3 fatty acids and enough fruits. Secondly, the author carried out research study concerning the issue of lupus and he thus found that consuming enough vitamins, herbs and visiting the reflexologist provides relief for the disease. Although the study results revealed that these are not effective herbal medicines, they can relief the pain. The case study of Beck Brown and Garbett reveals the effective medicines for relieving pain. However, there are other complementary and alternative medicine (CAM) therapies offered to

Journal 5 Essay Example | Topics and Well Written Essays - 250 words - 10

Journal 5 - Essay Example In my opinion, the most important topics are the reality of Jesus, creations of God and how our actions translate into outcomes. As far as thinking about what God has done in my life during this semester is concerned, I would like to express my thanks to the God, who has opened doors to the information that is related to him. I have come to realize that God has a greater plan for me and He wants me to realize his might, despite the fact that my mind is full of questions regarding his existence. E.g. I know that speaking the truth is ordained in Bible; this is a matter of simple ethics and everybody knows this by instinct that truth should be spoken. On the other hand, when I am expected to believe in something that my logic fails to comprehend, I start looking for logical answers and this is the area where I find it difficult to assimilate the information presented to me in the form of a sacred text. For example, how is God 1 and 3 at the same time? How is he a human and God simultan eously? I only pray for the well-being of my parents, friends and family and although I’d appreciate if my professor prays for that also, I’m certain that God is as close to me as he is to my professor. So, I think I should pray to God myself for things that are desired in my

Celtic Rock Essay Example | Topics and Well Written Essays - 750 words

Celtic Rock - Essay Example While possibly a sub-genre of rock, and of straight forward Celtic music, the now bubbling genre of Celtic music cannot be ignored any longer. Often called Celtic punk, or even Irish or Irish punk, it is a sound among itself. The first band to mix these the music and sound of rock with the traditional instrumentation of Ireland and Celtic origin was the Pogues. Playing through the 1980s and the 1990s, the Pogues mixed the edge of rock and roll and the developing punk scene with tin whistles, accordions, and other traditional instrument. Unfortunately, the Pogues broke up in 1996. After many different line up changes, the Pogues started playing together again in 2001. The Pogues have released 14 albums to the day, including various EPs and â€Å"Best of† Albums(The Pogues). One of their hit songs, â€Å"Fairytale of New York† reached number 2 on the UK billboard charts in 1987, brining the Pogues to huge fame. After the breaking up of the Pogues, the door was opened for other such bands to come in their place. One such band was the Dropkick Murphys. Formed in the working class neighborhoods of Boston, the Murphys blended the same rock with Celtic music the Pogues had done earlier. Currently, the Drop Kick Murphys have release 5 studio albums, and have become famous for their St. Patrick Day shows ever year in Boston(The Dropkick Murphys). On the other coast of America, the seeds for Flogging Molly was being sown. Most date the band to 1997 with the release of "Alive Behind the Green Door"(a live album recorded in the bar where the band started), but Flogging Molly had been playing gigs every Monday night at Molly Malone's prior to that. Formed by Dave King, an Irish immigrant to American, the band mixed the traditional Irish sound with drums, electric guitar and bass. Asked about the band, singer Dave King says that ""If it didn't have mandolin, accordion, fiddle and whistle, it would be punk-rock, and if it didn't have guitar, bass and drums, it would be traditional Irish music. But it has both."(Flogging Molly Reviews). This statement shows the combining factor of the band musically. Starting with the 200 release of "Swagger", Flogging Molly started to bring their unique mix of music out of California. With a 4 year gig on the Warped Tour, Flogging Molly spread its seeds the way bands should, with constant and constant touring. Flogging Molly is still touring worldwide, and is expecting to release another album next spring. Flogging Molly has released, 5 studio efforts. 2000's Swagger, 2002's Drunken Lullabies, 2004's Within a Mile of Home(debuted at 24 on the billboard charts), and 2006's DVD/CD Documentary Whiskey on a Sunday (Flogging Molly). The most recent effort, Whiskey on a Sunday, is a DVD documentary into the formation and personal lives of the band. It really gives a homegrown feeling to the band, connecting all the fans with the band on a very personal level. It is this in separation of band from fan that makes Flogging Molly not only an amazing live act, but amazing people as well. The DVD also comes with a CD soundtrack, containing newly recorded acoustic tracks and live tracks. Flogging Molly is just wrapping up the SideoneDummy/Fuse College Tour, which brought them around the country with fellow label mates Zox and Bedouin Sound clash. Selling out all over the place, this tour is just another one of the measures that shows Flogging Molly's success. If the success of these bands is anything to judge, the overdone and the three piece basic band are over. People want something more, something much more fun and entertaining. Celtic Rock gives this to people, by giving them hard hitting fast paced rock, mixed with the dancing and jigging of Celtic melodies. Celtic Rock may be a new thing for some people, but for those who have seen Flogging Molly, Celtic Rock is as real as anything, and quite amazing

Can good leadership be taught Essay Example | Topics and Well Written Essays - 1000 words

Can good leadership be taught - Essay Example Knowledge can be gained, skills can be learnt but intelligence cannot be generated. A person needs to be intelligent and sharp in order to gain knowledge and utilize it. Leadership requires certain traits in a person.Leadership and managerial work are common observable facts that there are no general rules that creates leadership events or leadership methods, or for that issue great leaders. Managerial work and leadership are made cooperatively. Therefore, the only way to understand leadership correctly is the basic knowledge in group sciences. In simple words, managerial work is the process of describing and calculating the victory. A leader is the person who puts forward the plan, explains success, and confirms the capability of success. It is clear that a leader who assures these things will be more competent than other leader who desires to put the idea but refuses to accept any work in the managerial part (Clark, Clark & Albright, 1990). Hence, effective leader is the one who ha ve power over people and whose decisions are binding on others. Everyone possesses leadership potential. Effective Leadership can, & normally does, emerge from the inside. Effective leadership requires the leader to take the whole group along. It is not necessary to involve the whole group in decisions regarding the group’s success however; the members of group are ‘helpers’. These ‘helpers’, if motivated and encouraged to work together, may quicken the process of success. Motivation emerges with the feeling to improve the surroundings. An effective leader must know that motivation is the key to improve the group's performance and the chances of success. Motivation, however, is not easy. It requires continuous performance appraisal and strong communication skills. This is the point from where effective leadership enters. Effective leadership requires the leader to choose the tasks for the group. A leader may also take suggestions from other group members but it may end up in losing the actual aim of the group. Hence, an effective leader should keep a strict watch over the performance and path of the group if it is moving towards achieving its goals or not. All these techniques to keep the group together and to motivate them and decision making techniques can be taught (FBI, 2007). The difference among success and failure of a team or group can be determined by leadership. Leadership divides the achievers from the spectators. And

Cultural Event Report Essay Example | Topics and Well Written Essays - 500 words - 13

Cultural Event Report - Essay Example As announced, the exhibits during that particular day include: Read My Pins: The Madeleine Albright Collection; the Yves Saint Laurent: The Retrospective; Focus: Earth & Fire; Garry Winogrand: Women Are Beautiful; and Blue & White: A Ceramic Journey; among 22 events. There were two building in the premises: the North Building that housed the main museum, which is a seven-storey structure. Likewise, another building, the Frederic C. Hamilton Building house additional collections of the museum. Both architectural structures are forms of art in themselves as they used innovative styles and are uniquely designed. The Yves Saint Laurent: The Retrospective exhibit started on March 25, 2012 and would run until July 8, 2012. It showcased a remarkable collection of haute couture garments, photographs, drawings, and films that exemplify the evolving years of Saint Laurent as a designer. The way the garments, photographs, and memorabilia were presented was just magnificent and is highly indicative of the quality and excellent image that Saint Laurent has exuded through the years. The collection entitled The Dior Years were simply breath-taking in sublime perfection and beauty. Four haute couture garments were showcased in grey, black, white and red; in styles that embody timelessness. Likewise, in another showcase, The Shock of Colors, was equally awe-inspiring as the narrow room was apparently lined from floor to ceiling in a rainbow of fabric swatches, where the walls are covered with pages reportedly taken from Saint Laurent’s old notebooks. The merging of these swatches with the garments displayed effectively delivered the message to the viewing audience. There were still various designer pieces, such as the ‘Paris Rose’, the long evening dress in black and draped with pink satin ribbon on the bodice which was the centerpiece of the exhibit. All these magnificent displays represent years of artistic designs that are being shared

Can good leadership be taught Essay Example | Topics and Well Written Essays - 1000 words

Can good leadership be taught - Essay Example Knowledge can be gained, skills can be learnt but intelligence cannot be generated. A person needs to be intelligent and sharp in order to gain knowledge and utilize it. Leadership requires certain traits in a person.Leadership and managerial work are common observable facts that there are no general rules that creates leadership events or leadership methods, or for that issue great leaders. Managerial work and leadership are made cooperatively. Therefore, the only way to understand leadership correctly is the basic knowledge in group sciences. In simple words, managerial work is the process of describing and calculating the victory. A leader is the person who puts forward the plan, explains success, and confirms the capability of success. It is clear that a leader who assures these things will be more competent than other leader who desires to put the idea but refuses to accept any work in the managerial part (Clark, Clark & Albright, 1990). Hence, effective leader is the one who ha ve power over people and whose decisions are binding on others. Everyone possesses leadership potential. Effective Leadership can, & normally does, emerge from the inside. Effective leadership requires the leader to take the whole group along. It is not necessary to involve the whole group in decisions regarding the group’s success however; the members of group are ‘helpers’. These ‘helpers’, if motivated and encouraged to work together, may quicken the process of success. Motivation emerges with the feeling to improve the surroundings. An effective leader must know that motivation is the key to improve the group's performance and the chances of success. Motivation, however, is not easy. It requires continuous performance appraisal and strong communication skills. This is the point from where effective leadership enters. Effective leadership requires the leader to choose the tasks for the group. A leader may also take suggestions from other group members but it may end up in losing the actual aim of the group. Hence, an effective leader should keep a strict watch over the performance and path of the group if it is moving towards achieving its goals or not. All these techniques to keep the group together and to motivate them and decision making techniques can be taught (FBI, 2007). The difference among success and failure of a team or group can be determined by leadership. Leadership divides the achievers from the spectators. And

Action Plan for Homeland Security Essay Example | Topics and Well Written Essays - 500 words

Action Plan for Homeland Security - Essay Example For a leader who is determined and courageous, his/her prevention strategies on attacks and disasters entail the strengthening of information sharing and collaboration capabilities. This will entail a robust investigative capacity to address all terror-linked issues and enhancing public awareness on reporting terror-related matters. There is need to establish the permanent commission that comprises of fire chiefs, police chiefs, mayors, local public health officials, and local emergency managers by the Department of Homeland Security to restructure the local-federal partnership with an aim of strengthening domestic security and safety. Create a safe and resilient cyber setting and promoting cyber-security innovation and knowledge (Shoemaker, & Conklin, 2011). There is a probability that a weapon of mass destruction will be utilized in a terrorist attack anywhere in the world by the end of 2016 (Graham, 2013). To ensure the safety of American people, the water systems will be protected from natural disasters and terrorist attacks through web-based monitoring of the distribution system water quality and regular water quality sampling combined with the analysis in the distribution system. Reducing vulnerability to terrorist attacks as well as other related disasters by strengthening capabilities that offer protection to public transport systems, ports, high-traffic borders, and other high priority critical infrastructure. The efforts to prevent terrorism will be centered on a layered risk-based approach to the security of the cargo and passenger systems of transportation, borders, and ports of entry. In the event of an electromagnetic pulse, money needs to be provided to the Department of Homeland Security by the federal government in order to offer protection to the electrical grid system. Office of Homeland Security to be given budgetary control over all federal programs associated with the nation’s domestic protection. Besides that, for those leaders who  are visionary and forward-looking, the Office of Homeland Security needs to be structured in a way that it works directly with mayors in support of their leadership responsibilities.

Alternative Dispute Resolution Clause for Learning Essay Example for Free

Alternative Dispute Resolution Clause for Learning Essay Alternative Dispute Resolution Clause for Learning Team Charter LAW 531 Alternative Dispute Resolution Clause for Learning Team Charter This paper will discuss an alternative dispute resolution (ADR) clause that might be used by a Learning Team to resolve a disagreement among members. This paper will identify all provisions and information necessary to enable the ADR to occur and function effectively. The dispute that the ADR clause that might be used by a Learning Team will be when a member fails to submit their portion of the Learning Team assignment on time and therefore another member must write the portion assigned. I, Learning Team member, will settle all disputes or controversies arising from not submitting my portion on the time and date previously decided by the Learning Team to the Learning Team folder exclusively by mediation and a neutral third party mediator. The mediator will be chosen by the professor of the course that the Learning Team is associated. The mediation will be held within three days of said dispute or controversy and remedy will be completed within 5 days of said dispute. I will make myself available to the mediation and cooperate in any fashion with mediator. If a fair and equitable agreement for all cannot be reached than I will not be given rights within the Learning Team and the University will be notified that I have forfeited rights to the Learning Team. If and when settlement has been reached no party within Learning Team will mention said disruption within Learning Team folder. The above clause will allow the Learning Team to have a clear understanding that it is very important to make sure that their assigned portion is submitted on time. If the assigned portion is not submitted on time than they may have to submit to a mediation to work out the differences within the Learning Team and how they will make up to the Learning Team.

Motivation And Employee Performance Commerce Essay

Motivation And Employee Performance Commerce Essay Motivation vs employee performance is a typical topic of human resource management. Performance can be increased by motivating employees. Motivated employees can perform better than unmotivated employees within an organisation. Every individual need some kind of motives to perform their jobs in significant manner. In this era there are many tips are available to motivate their employees but we have some different theories in which we can utilize in the corporate level to improve the productivity of the organization. These theories are divided into two parts: Content Theories Process Theories From the above the most common theories now a days are: Maslows hierarchy of needs model Herzbergs two-factor theory Herzbergs two factor theory is modified form of the Maslows hierarchy of needs. The purpose of these theories is same how to get better performance from an individual. ASDA walmart, Dell Computers, IBM, Starbucks and McDonald are using these theories in different ways to achieve their specific goals in their industries. These companies are well known in their own field. They are keep motivating their employees to achieve the best result. With a positive motivation philosophy and practice in place, productivity, quality and service should improve because motivation helps people towards: achieving goals; gaining a positive perspective; creating the power to change; building self-esteem and capability; and managing their development and helping others. Introduction: Definition of Employee performance: Employee performance is how well an employee performed his assigned job or task. Definition of Motivation: Its a psychological feature that arouses an organism to action towards a desired goal, the reason for that act so the thing which is approach the human being he do that. The performance of employees contributes toward the success of any organization. Employee performance can be increased by motivating them. Motivation is basically an energetic dose which is necessary for the employees in any organisation to increase the productivity of the organisation. The study of motivation is concerned. Why people behave in a different Way and how they attempt to achieve some goal in order to fulfil the requirement and needs or expectations. They have individual variety of changing, and competing, needs and expectations. One useful three-fold they much worked at your work place economic, intrinsic and social. Following are the some real life examples of the companies how they motivate their employees. The most important factor of motivation is to align the goal, purpose and values between staff, team and management. The problem occurs when there is a gap between staff and management. Corporate Examples of Motivation Performance: ASDA Wal-Mart Super Stores: ASDA has 321 stores with 148,000 employees in the UK. ASDA employees are motivated to being able to help the customers. They offer a competitive package for motivation of their staff. According to Hierarchy of Need theory (Maslow, 1943) an individual can better perform if he is provided basic needs first. He provides hierarchical needs of a worker which need to be fulfilled to get better results from an individual. figure: Maslows Hierarchy of Needs The basis of this theory is that workers are being motivated by unsatisfied needs, and that lower needs are provided before the higher needs to an individual. He gave an order of need in which he believes that this order should be followed to motivate an individual. ASDA provide basic needs to their colleagues so they can perform their job without any stress and feel happiness by helping the community. Their slogan is: Always Happy to Help They fulfil the physiological needs of workers by providing on time salaries i.e. after every four week and there is a system of break i.e. after every 4 hour it is necessary to have a 15 minutes break to work for another 3 to 4 hours. According to above theory the second higher need for a worker is secured work place and in ASDA stores company provide a confidence of safety by placing technical devices like cameras, fire alarms and security officers to handle any kind of threats and demoralise the staff. To obtain the desired results of help, they emphasise on the basic needs of their staff they provide some benefits. ASDA believe in unique and valued contribution of their employees. Following are some benefits from ASDA to their staff to motivate them. ASDA offer 10% discount to their employees on shopping in any ASDA store. Annually bonus provided to the staff. Free of charge uniform any time colleague need. Wall-mart has been empowering its workforce through training to ensure that those who show progress in their performance are well awarded through promotion. Therefore following the McGregor theory of motivation, they are effectively using recognition in achievement as an important ways to motivate their workers. McDonalds: McDonalds business is simple People-Profit-Chain model. McDonald adheres to the principle that The result is done by a man. The company has based its success on the motivation theories having altered only some aspects of them. They follow simple theoretical rules to increase the performance of their employees. Sensible increment on employees salaries. One aim per person is better than to have multi purposes. The aim must change. Every department should have different elaborated systems of motivation. The company applies three components of the motivation system: Financial encouragement Non financial encouragement Social policy These three factors described by Maslows hierarchy of need theory. Maslow says that all these needs must be fulfilled one after another but McDonalds strategy shows that simultaneously fulfilment of these needs can increase the employees performance. The reality is that an employee has a set of needs in every hardened moment. According to above McDonalds has effective motivation system that makes it possible to increase employees performance, and enhance the companys productivity. The administrators have used the specific techniques on the basis of motivation theories. Having applied the procedure of assembly line in food preparation, McDonalds has ensured the standard quality of the production and the high performance. Besides, the company has implemented effective motivation strategy that is based on the existing motivation theories. Consequently, on the basis of the research we can say that every company has its own system of behaviour explanation and every concrete case should be examined as the McDonalds company case. Motivation theories, such as Maslows theory and Self Determination Theory should serve as the basis for elaborating a strategy which will direct managers forces towards the aim employee satisfaction via intrinsic motivation and Maslows Hierarchy of Needs model. Starbucks: Starbucks corporation is the most famous chain of retail coffee shops in the World. (Michelli, 2006) As a result, Starbucks would be one of the optimal business models for the strategies of employee motivation, customer satisfaction and cooperation of teamwork. The Chief Executive of Starbucks corporation, Howard Schultz believes that the spirit of Starbucks is employees and feels honored about the value of Starbucks employees. The company offers an interactive structure that makes personnel instil themselves into their job; hence they can motivate partners to satisfy themselves then achieving a new level of performance. Following are some preset rules for the employees of company. Treat employees as partners Each employee will get vacation and personal time. Employees get discounts on Starbucks product. Training for all employees including managers The managers in Starbucks treat every single worker equally and all of the staffs are called partners, even the supervisors of each branch are called it as well. In order to narrow the gap between managers and employees, they also co-work with the basic level staffs in the front line. The partners of the company have the right to figure out what is the best policy for them, and the directors show a respect for each suggestion. Starbucks has a well-organized communication channel for employees. It places a great importance on labours. For example, managers plan the working hours per workers and arrange the schedule of time off, according to their wants to meet their requirements. There are interviews weekly to see what employees need is. All employees, including informal personnel, are offered a great deal of welfare policies, for instance, commodities discounts for employees, medical insurance (including health, vision and dentil) and vacations. According the Maslow hierarchy of need, money is one of the most important factors in the motivation of the most important motivator. However according to the Hertzbergs two factor model of motivation, it tend to have short term effect on the motivation of the workforce, it has been identified as one of the most important factor in the overall motivation of the workforce. At the higher levels of his hierarchy where praise, respect, recognition and empowerment, these companies has been using this model by ensuring that they recognize the performance of their workers. figure: Herzbergs Two Factor Theory IBM: IBM has in particular upheld the spirit of team work which is important in motivation according to McGregor XY Theory. figure: McGregor Theory X and Y IBM has been emphasizing the development of effective communication between its workforces by ensuring healthy team competition. IBM sets goals for each employee working in the company which ensures that the employee is achieving the certain target. Company believe in high level of team spirit. Employees work in a team to complete the specific tasks or projects. Dell: Dell Computers is a world most famous company. Dell has sets some rules to motivate their employees so they can perform well. The CEO of the company believes that an employee can perform well if he or she work like an owner or partner of the company. To motivate an employee to think like an owner, you have to give them metric she can embrace, says Michael Dell, CEO of Dell Computer Corporation. At Dell Computers, Every workers incentives compensation are tied to the health of the business. Managers usually explained specifically how the employees can contribute the business and doing things right the first time. There is a core incentive program for all employees in the company. Among other incentives, Dell Inc. gives every employee a week off at Christmas and 10 paid days a year for a personal use. This corporate philosophy is called The Soul of Dell, Dell pays incentives to their employees and also emphasise on the emotional side to keep them motivated. Dell also keeps appraised their employees. The management keep informed their employees about any change in company or any international aid made by the company. This is exactly the same theory which is provided by Herzberg. Dell managers are ensured to balance the satisfiers and dis-satisfiers. Procedures and policies of the company may cause dissatistaction. To reduce this dissatisfaction Dell believes the best method is to raise the awareness of the employees and encourage them to get involved in the creation of policies of the company. By doing this employees can recognise the change and feel confident and the result and result will be the better performance. Herzbergs second factor i.e. Motivators. This is the factor that stimulate the employees to perform well jobs. Dell has a significant promotion procedure and reward policy to create a challenging environment for the employees. And the result is healthy and productive environment in the company. Conclusion: Motivation is necessary to increase the performance of the organization and productivity. Different companies are following the different theories, in every organisation motivate to the employee is important role for the managers according to Frederick two factor motivation theory. Herzberg describe that there are two elements on the work place satisfied and dissatisfied in the employee. However, we have seen from the discussions above that there still appears to be general support for the theories of Maslow and Herzberg and McGregor. A Chartered Management Institute checklist maintains that these theories are still valid today. A basic understanding of their main Principles will be invaluable for building a climate of honesty, openness and trust. From a 12-year study of the use of management concepts in technical organisations, Flores and Utley found the work of Mallow and McGregor the most popular motivational theories and also refer to the relationship between Mallow and Herzberg and the successful implementation of quality systems. Whatever the popularity of different theories of motivation, doubts are raised about their universality on the ground that they have not adequately addressed the factor of culture. Recommendations: Motivating employees to get best performance from the employees is not a typical science and there is no single rule to implement for each and every employee. Different peoples working in a same organisation can have different problems and different attitudes to perform their certain jobs. First we need to know the employee how he can perform well and what his or her desires are. Maslows theory of Hierarchal need and Herzberg two factors theory can help to analyse and fulfil the requirements of an individual. Here are some general recommendations we can try to motivate staff. Encourage employees all the time before, during and after the work. Recognise and reward a job well done. Offer financial incentives. Promote fun and happiness at the workplace.

London - Poetry Analysis :: essays research papers

In this poem, Blake is trying to dispel the myth of grandeur and glory associated with London and to show the 'real' people of London and how they felt. London was seen and portrayed as a powerful and wonderful city where the wealthy lived and socialised. However, Blake knew that London was really a dirty, depressing and poverty-stricken city filled with slums and the homeless and chronically sick. To reveal the truth, Blake combines description of people and places with the thoughts and emotions of the people. For example, the second stanza says:"In every cry of every Man,In every Infants cry of fear,In every voice: in every ban,The mind forg'd manacles I hear"Blake combines the descriptions of the crying baby and man with the observation that the people oppress their hopes and dreams, figuratively 'chaining up their minds' because they know that they will never be able to achieve their dreams. Another Example is in the third stanza when Blake describes the crying chimney -sweep and then the "blackning church", but is really saying that the church does not want to dirty its hands by helping the soot-covered [black] chimney sweep. Therefore, a "blackning church" is one that helps the common, dirty people, and Blake says that "every blackning church appalls", showing that the aristocracy and those in positions of power did not want the church that they supported associating with the common people.Throughout the poem, Blake uses fairly simple language, punctuated with the occasional obscure word, but generally the more common words, probably to appeal to the common people who he was supporting through this poem.In writing this poem, Blake is trying to make the reader understand the truth about London and understand about the 'real' people, and he is also encouraging the church, and the aristocracy to help the common people and to support them instead of pushing them away and disregarding them.

The Colonization of Modern Africa :: Colonialism Imperialism

The Colonization of Modern Africa Many of today's distant countries are underdeveloped or not developed at all. People are going through famine and even dieing of starvation. These countries have demanding governments, and not enough money. Many countries with in Africa are just like this. The colonization of modern Africa has had many life changing effects on the people of Africa. Some of the effects of colonization are on the governments, the farming system, and the educational value. Colonization has greatly effected the governments of Africa. Africa gained political independence in the 1950's. Even though political independence was gained there are still many problems with their governments. There is a lack of political experience. Political boundaries, set by the Europeans, have cut across ethnic lines putting diverse people under the same government. This has lead to civil wars. The military is also weak. Just like the government, the farming in Africa is affected by colonization. Africa has many different forms of farming, one of them is Subsistence farming. Subsistence farming is when one farms for just for his family or village. Another type of farming is Commercial farming, or organized farming as a business. There is also Shift farming, which is when a farmer moves every one to three years to find better soil. Only two-fifths of Africa has arable land. Many farmers go hungry or bankrupt because they become dependent on one cash crop. Unlike the government and the farming problem of modern Africa, there are many good effects of colonization. Education has had many good effects like the new schools built and universities. People are furthering their educations and getting better jobs. There are so many more opportunities for people with a higher educations. The Colonization of Modern Africa :: Colonialism Imperialism The Colonization of Modern Africa Many of today's distant countries are underdeveloped or not developed at all. People are going through famine and even dieing of starvation. These countries have demanding governments, and not enough money. Many countries with in Africa are just like this. The colonization of modern Africa has had many life changing effects on the people of Africa. Some of the effects of colonization are on the governments, the farming system, and the educational value. Colonization has greatly effected the governments of Africa. Africa gained political independence in the 1950's. Even though political independence was gained there are still many problems with their governments. There is a lack of political experience. Political boundaries, set by the Europeans, have cut across ethnic lines putting diverse people under the same government. This has lead to civil wars. The military is also weak. Just like the government, the farming in Africa is affected by colonization. Africa has many different forms of farming, one of them is Subsistence farming. Subsistence farming is when one farms for just for his family or village. Another type of farming is Commercial farming, or organized farming as a business. There is also Shift farming, which is when a farmer moves every one to three years to find better soil. Only two-fifths of Africa has arable land. Many farmers go hungry or bankrupt because they become dependent on one cash crop. Unlike the government and the farming problem of modern Africa, there are many good effects of colonization. Education has had many good effects like the new schools built and universities. People are furthering their educations and getting better jobs. There are so many more opportunities for people with a higher educations.

Effects of lobbying and its effectiveness in America Essay

Effects of lobbying and its effectiveness in America Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A lobbyist is anyone with a clear understanding of working of the federal government and the legislative actions taken each day as well as their impacts. He might represent an individual, a party, company or a group of people (Hrebanar, 2009). Yearly, many dollars are spent on lobbyists in Washington DC. We shall discuss about the effects and effectiveness in this city.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   For a start, not every American citizen can approach members of the Congress or to government officials to have their interests addressed. Anyone who has an issue seeks the help of lobbyists who represents their interests to the congress. The fee charged is high but one is fully represented and listened to. They represent anyone who seeks their help not the interest of all citizens. This is a direct form of corruption.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The lobbying companies make a lot of profits based on the purpose of forming the company. The benefits may be in terms of direct cash, reduction of taxes or being awarded any contract of government. This is a form of corruption and unfairness because the citizens who cannot afford to approach them can’t win such tenders or have any interest in the congress.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Many companies opt to pay lobbyists who in turn help them evade paying the corporate tax of 35%. The whole process is facilitated by politicians receiving money from the lobbyists (Waterhouse, 2013). This leads to reduction in the income of the country in terms of taxes collected thus the economy is also affected. Living standards of citizens also become poorer because they are forced to pay more taxes for the government to operate efficiently.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Since lobbyists have a great impact on the laws passed in the Congress, some important regulations may be passed in favor of corporations which carry out illegal activities such as emission of poisonous gases to the atmosphere or trafficking of drugs. Congress members and other officers in governmentare paid to help in passing these regulations. This is harmful to the general public since the products affect them negatively. In this case, environmentalpollution through poisonous gases increases cases of cancer and. Practical examples of such companies are tobacco and extraction companies.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Lobbyists are not always effective even though they have much influence in the government and its officials. The court is always a fair representer of the normal citizens and it may rule that a regulation should not be passed because of its impact on the American society. A good example is when the court stopped the FDA tried to introduce the generic version of Lovenox but the court stopped the procedure despite the huge sums of money the company spend on lobbying. In addition, there are leaders in power who don’t accept any type of bribes so the influence of lobbyists does not affect their decisions pertaining some regulations or policies. These leaders condemn fully the activities of lobbyists hence the regulations passed and enforced in the country are in favor of the citizen’s not individual groups or companies.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In conclusion, lobbyism is rampant in America especially in Washington and the results of such groups may affect the normal citizens positively or negatively. A significant amount of capital is spent on lobbying which reduces the net income on taxes hence affecting the economy. The health and normal lives of citizens are largely affected by lobbyism. Luckily, they are not effective always thus some of their policies are neglected especially by the court and no-corrupt officers. The best way possible out of this is through campaigns to alert government officials of the effects of lobbying. References Hrebenar, R. J., & Morgan, B. B. (2009).Lobbying in America: A reference handbook. Santa Barbara, Calif: ABC-CLIO. Waterhouse, B. C. (2013). Lobbying America: The politics of business from Nixon to NAFTA. Princeton: Princeton University Press. Source document

Newspaper Industry

Annals of the „Constantin Brancusi† University of Targu Jiu, Economy Series, Issue 3/2012 THE DISTRIBUTION NETWORK DEVELOPEMENT IN PRINT MEDIA Assoc. Lect. Loredana Iordache Ph. D University of Craiova [email  protected] fr Lect. Radu Criveanu Ph. D University of Craiova [email  protected] com Assoc. Prof. Cernaianu Nicolae Ph. D Titu Maiorescu University, Bucharest [email  protected] com Abstract: In this article, we identify the characteristics of the distribution networks in print media and the features of marketing in mass media, emphasising the attempts initiated by the press in the context of the financial crisis.The research was conducted through a case study on regional newspaper,, Gazeta de Sud† The main problems analyzed were decreasing newspaper circulation and advertising. The research taken into account trends and developments worldwide print media as well as print media particularities of Romania, with a focus on identifying factors that contribu ted to the closure of a significant number of newspapers, or their transition from printed version online format.The paper is mainly focused on some practical issues related to the way of organizing the print media sales networks, the authors elaborating proposals for the implementation of certain measures to increase the circulation, on the one hand, and on the hand, to increase the sale of ad space in the newspaper. Compared with other products, the newspaper has unique characteristics caused by daily changing content, and therefore the product itself. Having a highly perishable, the content of media products should always seen in relation to time, which requires more rapid distribution and continuous production.Key words: distribution networks, advertising, marketing strategies, print media JEL Code: L11,L22,M37 Introduction: The way in which the economic crisis has influenced the distribution policies differs from one company to another and from one activity domain to another. I n order to understand the application procedure of the distribution policy at the level of the media institutions, it is necessary to clarify the content of the media products and of the specific elements that favors or limit the application of marketing concepts, methods and techniques. One of the main characteristics f the media selling network is the fact that it generates profit, not only by an increase in the number of sold newspapers, but also by an increase in the number of readers, which determines a growth in the newspaper space sold for advertising. Fixing the selling price of ad space depends on several criteria mainly related to audience size and its socio-economic profile. Advertising buyers invest in newspaper ad space in terms of achieving a certain number of users or buyers (Bertand, 2001). Type of distribution networks is different from one country to another depending on a number of features.Thus in France and Italy press is bought mainly from newsstands, in Sweden is generalized newspapers home delivery while in U. S. besides newspapers home delivery are mainly used newspapers vending machines. The study analyzes the current situation of media products market with special emphasis on the print media in Romania and proposes a series of measures for development and improvement of distribution networks. The importance given to this activity consists in the need for information on the paper available to the readers. 1.Current trends in print media The economic crisis caused a serious decline in the print media circulation, contributing to a great extent to the dissolution of many important papers, a part of which can only be found online. The print media industry finds itself in a critical moment. In the last few years, the media institutions have tried to develop online products and to find new income sources to provide for the transition from the printed paper to the digital one. Although the access to the Internet is continuously growing, the value of the revenues generated by the Internet newspapers is still very low.According to the data presented on different specialized websites [11] in 2011, in the USA the revenues from advertising in the print media format were still in decline for the sixth year in a row. Thus, according to the study by Amy Mitchell and Tom Rosentiel of The Project for Excellence in Journalism (PEJ) the losses generated in 2011 by „ACADEMICA BRANCUSI† PUBLISHER, ISSN 1844 – 7007 141 Annals of the „Constantin Brancusi† University of Targu Jiu, Economy Series, Issue 3/2012 the advertising decrease on the print paper were ten times higher than the revenues generated by the online advertising [12].The situation is as critical in Europe as it is in Romania where a number of papers closed or remained only with their the online version. An analysis of the Romanian press situation shows that the advertising revenues for the online newspapers are low, despite having register ed a sudden improvement lately [7]. Thus, the central papers register a higher income than the local papers, which have insignificant revenues that do not compensate for the revenues obtained from the print version of the newspaper, though more and more readers have access to the Internet [6].As far as the online market for the local publications is concerned, we consider that the strategy adopted should be differently approached, because the local companies, as faithful clients for advertising, have not been interested yet in online advertising. In addition to this, the integral online version of the paper has an increased number of readers, but reduces the number of print version buyers and therefore decreases the revenues. It is probable that the general tendency of the media is to be published online.But, we should not forget that the online version is not accessible to important categories of the population, at least not yet to the rural population. From our point of view, the main reasons why the sale of advertising spaces in the online version of the newspaper did not have the estimated results are the following: a) Firstly, the most important national papers, which impose the trend on the market, have a wrong marketing strategy, offering the online content of the paper to the readers free of charge.At the same time, there is no solution found to financially evaluate the new audience gained on the internet. In other words, by consciously moving the readers from the print version to the electronic/online version, the papers have lost important sums of money. b) Secondly, the financial crisis has determined a budget adjustment in advertising, which had subsequently an impact on the entire print media in Romania. The important advertising clients have focused only on TV lately, by allocating their budgets to the TV stations as a media vehicle and completely eliminating the newspapers from the marketing mix. ) Thirdly, another reason for this situation is t he fact that, once moved on the internet, the newspapers became direct competitors for the advertising budgets together will the other websites. Before the technological revolution brought about by the Internet, the papers were in competition with the other media (TV and radio stations etc. ) . Nowadays, the newspapers compete for the online budgets not only with the other media, but with the entire spectrum of websites, from Google to Facebook and Yahoo. ) Another reason, as mentioned above, is the distrust of the faithful clients of the local advertising in the impact of the digital version of the paper. In Romania, the number of publication have dramatically dropped, the audience rates have become half of the 2008 value and the editorial offices have to constantly take measures to reduce costs [5]. The number of employees is continually decreasing, leading to a reduction in the number of quality articles that may be produced.Moreover, the reporters are asked to produce more and t o increase the content for all the platforms: print, digital, mobile, but also to promote this content on the social networks. This fact led to a general dissatisfaction among the reporters. At the same time, the revenues from the paper selling and from the advertising spaces in the print version have decreased, and values from the online revenues could not compensate for the difference. A major part of the paper circulation is determined by the distribution costs.The circulation of a newspaper represents the number of copies distributed for a paper edition and it is formed of the papers sold by piece, with subscription, in promotions or for protocols etc. A new approach in the case of many regional newspapers is to concentrate on the most profitable zones, thus reducing the costs. The marketing strategy is based on the fidelity of the readers and not on approaching new markets. As opposed to other goods, the paper is a perishable product which is quickly replaced by another one.On account of this, the selling price is low in order to assure its accessibility, a quick selling and implicitly the market clearance for new products. However, the costs are high and the profit share is low under these circumstances. For the production of a newspaper, the producer needs a series of resources, such as: raw material and equipment, qualified workforce and something specialised for the mass media institutions, namely information and cultural creation.Economic crisis determined higher costs for the raw material (especially for paper) and for specialised and wellqualified workforce The selling price of the newspaper is set taking into consideration the following items: – the editing cost of the newspaper; – the printing cost of the newspaper; – the distribution cost of the newspaper; – the commissions paid to the media distribution companies, respectively the selling workforce; – the percentage of the assumed returned copies (the number o f printed but not sold copies).Starting from the data presented above and targeting a certain profit, the selling price is set per piece/copy (the cover price). Regarding the subscription price, alongside with the editing, printing and distribution prices of the newspaper, we have to take into account the commissions owed to the post office and to the agents and distributors. Some research studies about the Western European press market show that the investments necessary for launching a publication pay off in 3-4 years.In comparison with other activity domains that assure their profit from the direct sale of the product, the press institutions cannot survive based on the exclusive paper selling activity. „ACADEMICA BRANCUSI† PUBLISHER, ISSN 1844 – 7007 142 Annals of the „Constantin Brancusi† University of Targu Jiu, Economy Series, Issue 3/2012 The revenues of the print media institutions are varied and unequal, depending on the type of paper and its impact on the market. The mass media market is a dual market of the mass-media products as far as the revenues registered in massmedia are concerned.The revenues come from two categories of buyers: the media products buyers and the massmedia advertising buyers (Coman, 2007). The revenues of the press institutions are obtained from the following types of activities: a). the retail or subscription selling; b). the advertising space selling for the clients who want to publish their own messages on the support offered by the press institutions; c). the selling/renting of the access right on the newspapers websites (advertising on the online version of the newspaper); d). the amounts obtained from different sources as sponsorship.Each type of these revenues contribute more or less to the success of the company's activity and are tightly interconnected and reciprocally supporting. 2. Selling strategies in print press One source of revenue is provided by the newspaper selling, but the most important source, as we previously mentioned, is the advertising spaces sold. The advertising is divided in two categories: – the small ad, which included small sized announcements narrowly targeted to different categories (job offers and demands, selling and buying real states, vehicles or other products, service provisions, renting offers and demands, commemorations, deaths and condolences etc. ) whose price is set according to the number of words, the font and the number of daily publications requested. – the display ad (the larger ad), which includes those medium or large sized announcements, and can include even a whole newspaper page and whose price is determined by the page position, by the display size, the number of editions, the number of colours used (black or multicoloured).Many of the large ad announcements are commissioned and mediated by the advertising companies. The advertising advantages in the print media are determined by the fact that this type of media advertising is flexible both in dimension and in price, with opportunities for coloured advertising, smaller or bigger or with different inserts. So that the profits from advertising to be really relevant for the company owners, it is first necessary to understand that, by attracting a bigger volume of advertising, regardless of its type, is correlated with the paper circulation and audience.The individual persons, but especially the big economic agents and advertising agencies are well aware of the fact that the advertising impact in the newspaper is in direct ration with the number of that paper's readers and when they take the decision of publishing an ad, they analyse very carefully, by comparison, both the tariffs, and the circulation or the number of readers of the papers with the profile and the coverage area they need.BRAT (The Romanian Office of Circulation Audit) is the authority able to certify the circulation number for a newspaper or a publication for certain aud ited periods, and SNA (The National Audience Study) is the authority which, on the basis of surveys, measures the audience number of a publication, that is the average number of readers per edition of that publication (in general, a copy of a newspaper is read by 4-5 people) .Taking into consideration the facts mentioned above, it is obvious that a bigger selling volume, even when it does not directly generate profit, brings about higher revenues from advertising, which in their turn, bring considerable profit for the editor. Thus, the selling objectives of the company become extremely important. In this study we used a comprehensive approach to examine different aspects of distribution networks in press. In order to achieve the purpose we used as research method the case study of the biggest regional newspaper in the country. Data ollection was performed using as investigative tools interviews with distribution and advertising managers, direct observation and also analysis of archi val documents and data. The research findings have resulted in measures aimed at developing sales networks in print but also to redress those in free fall due to the economic crisis. According to BRAT studies newspaper Gazeta de Sud from Craiova is the most widely read regional newspaper in Romania, having over 100,000 readers / day and an an average circulation number of over 16. 000 copies [8]. Gazeta de Sud is distributed in Dolj, Olt, Gorj, Mehedinti and Valcea counties.The newspaper covers every possible editorial domains specific to a newspaper: local news, social problems, sport events, health issues, education, culinary recipes, TV programmes and recommendations, investigations, economy, culture, events and celebrities' life. Gazeta de Sud is a member of the Romanian Office of Circulation Audit. Gazeta de Sud consists of the editing board and the selling departments of the newspaper (the distribution department that deals with selling the newspaper by using newspaper sellers and the distribution news stands and the subscription selling department).The selling force of the company is supplemented by the advertising selling department which has the role to sell advertising space in the newspaper and in the online version of the paper. As market competitors for Gazeta de Sud in Oltenia we can mention other regional papers, such as Editie Speciala or Cuvantul Libertatii. The average daily circulation numbers of these newspapers, of 3. 000 – 4. 000 copies „ACADEMICA BRANCUSI† PUBLISHER, ISSN 1844 – 7007 143Annals of the „Constantin Brancusi† University of Targu Jiu, Economy Series, Issue 3/2012 (circulation numbers not audited by BRAT! ), are much inferior to the circulation numbers of Gazeta de Sud, despite having a selling price and a subscription price lower than the prices of Gazeta de Sud. Among its competitors, we should mention other regional weekly publications, such as Saptamana in Oltenia/The Week in Oltenia a nd Expresul de Sud/The Southern Express, but their circulation numbers do not exceed 2. 00 – 3. 000 copies. The content quality of Gazeta de Sud, the printing quality, the supplements offered and, last but not the least, the advantage of a very early distribution system and a very well organised complaints solving system greatly favour this newspaper in winning the competition with its local or regional, daily or weekly newspapers. As any other private company, this too aims at obtaining profit as a result of a superior value creation for consumers, satisfying better the consumers' needs.Based on analysis of data from several local newspapers, it was observed that during this difficult period the press efforts are centred on sales and special offers are created to attract more and more clients for advertising. The circulation of a publication represent the number of sold copies distributed for an edition and is formed of the copies sold as retail, by subscription, promotions and protocols etc. Part of these copies which are not sold return to the company and represent daily financial loss.The distribution system of the Gazeta de Sud newspaper is presented in the figure below( fig. no. 1): Fig. no1. The circulation components As observed in the figure above, the selling circuit of print media includes three main components, namely the retail selling and the subscription selling. a) The retail selling is divided in: – the retail selling by the press distribution companies; – the retail selling by the press distributors; The retail selling by the press distribution companies is done at the news stands.The disadvantages of retail selling by the press distribution companies are especially determined by: – the selling presentation mode of the newspaper – very often illustrating the exclusive preferences of the sellers from the news stand, only certain publications are exposed and made visible to the detriment of other rival publica tion. In order to avoid this situation, the appointed personnel of Gazeta de Sud monitors and permanently assures that the newspaper is exposed at sight, giving the possibility to the clients to easily read the headlines. the delayed cash collection from the press distribution companies for the sold newspapers (minus the commissioned charged by these companies) – the relatively hard collection of return papers (unsold newspapers), which requires material and time resources. As a main advantage of the retail selling by the press distribution companies we mention the fact that, in this way, the editor benefits from an efficient selling manner of its newspaper, due to qualified personnel and strategic locations placed in the area with intense traffic (the news stands).The retail selling by the newspaper sellers is an alternative to selling at the news stands, intended not to replace it, but to complete it. In general, the newspaper sellers are placed at: – traffic lights crossroads, a situation in which the clients are the car drivers that wait for the green light; – supermarkets, markets, train stations, bus stations, traffic ways with many shops and open-air coffee shops where there are many passers-by.The newspaper sellers try to adjust to their potential clients by attracting them into buying the product offered. If in the case of the news stands, the client is the one heading for the newspaper, in the case of the newspaper sellers, we can figuratively speak about the newspaper that come directly to the client, facilitating and providing a very comfortable sale.The advantages of selling the newspaper by the newspaper sellers are the following: – facilitating the newspaper selling process for the client, making it easy, comfortable and quick; – attracting undecided clients and transforming them, in many situations, in faithful clients of that newspaper seller; – covering areas where the press distribution companies do not own news stands, thus providing access to the newspaper for a larger number of potential clients; „ACADEMICA BRANCUSI† PUBLISHER, ISSN 1844 – 7007 44 Annals of the „Constantin Brancusi† University of Targu Jiu, Economy Series, Issue 3/2012 – prompt cash collection for the sold newspapers; – minimum returned newspapers, due to very meticulously and well organised daily orders and to the possibilities to supplement the order of a newspaper seller, that is giving to another seller the order left unsold in one area, according to the selling number of newspapers at a certain hour.As a drawback, we mention the often poor quality of the people willing to accept such jobs, there being situations when the clients were disturbed by the very insisting newspaper sellers (verbal aggression or not receiving the right change). Another form of retail selling, successfully practised in the United States of America and in many European Union countries is selling by newspaper vending machines. In Romania, there have been many attempts to implement such vending machines, especially in the supermarkets, given the advantage of eliminating the human intermediary from this distribution hain, whether it is the the news stand seller or the newspaper seller. However, by eliminating this intermediary and thus the disadvantages specific for these two types of retail selling, other disadvantages became obvious, such as: – the relatively higher price of the newspaper vending machines; – the building technique of these machines, which presupposes the opening of a door the moment one introduces the money, giving the possibility to take more than one paper.This does not represent a drawback for the civilised countries, but in Romania, for easily understood reasons, the editors prefer machines that give only one paper at a time. But, there are technical details to take into account here, such as the variable weight of a paper from o ne edition to the other and from one publication to the other. b) Selling by subscription Most of the editors prefer to offer the client this possibility too, that is to get the newspaper by subscribing to the system.The client's advantages are the following: – the client's safety that he'll get the right publication, avoiding the risk of not finding the newspaper at the news stands; – the subscription price is much smaller than the total price paid by the buyer for each item bought individually in a month; – the paper is received by the subscriber at the address mentioned, without being necessary to go and get it or to waste time doing it; – for the clients in the rural area, where the news stands are generally missing, it is practically impossible to get the wanted newspaper; Nonetheless, there are also disadvantages, such as: – the subscription has to be paid in full in advance, for the entire subscription period; – the paper is usually d elivered at late hours, when many people are already gone to work or to their daily activities, thus loosing one of the basic qualities (offering late, up-to-the-moment news and information); – the newspapers with weekend editions (on Saturday or Sunday) are distributed in the countryside on Monday; – the mail boxes, especially at the blocks of flats, are generally unsafe and easily allow for getting the newspaper by evil-minded people, which subsequently leads to a general discontent of the subscriber who thinks that probably the newsagent was not delivered.From the perspective of the press trust, the subscription price, in the case of Gazeta de Sud, does not always cover all these costs, but it is an accepted loss because the final profit is targeted and that is advertising (a profit which is direct relation to the circulation number of the newspaper and with the subscription number). However, the selling on subscriptions targets the fidelity of the clients, increasi ng the audience and implicitly the selling figures from advertising and much less the profit. Practically, the buyers by subscriptions are encouraged to buy a product at a much lower price per item than that bought daily from the news stands.Generally, the number of subscriptions represents a significant profit from the total circulation number of that publication. Moreover, the subscribers are usually those faithful clients that assure the safety for continuing to publish that publication and on which the editor bases the future planning. The anticipated payment of the subscription allows the editor to collect in advance considerable amounts of money, that would help organise the activities for the next period. The subscriptions do not usually generate significant profit for the editor. There are situations when the subscription price hardly covers the editing and printing costs form that publication.The starting idea is that a great number of subscriptions means a an increased cir culation number and thus a larger audience, this leading to obtaining more advertising clients from the specialised companies. The advertising companies carefully analyse the data given by the certified institutions, such as BRAT in the case of the circulation numbers, and SNA for audience, and their quantitative and value offer for large advertising is in accordance with the data. Given this fact, the editors do not necessarily target profit from subscriptions, but they calculate the indirect profit derived from advertising, due to the large audience of the newspaper. Subscribing at the post office is the most used form of subscribing to a publication. „ACADEMICA BRANCUSI† PUBLISHER, ISSN 1844 – 7007 145Annals of the „Constantin Brancusi† University of Targu Jiu, Economy Series, Issue 3/2012 The national company the Romanian Post covers the whole country and on an agreement basis, concludes contracts with the editors and distributes subscriptions to a series of publications. Another form of subscription, practised especially by several local and regional newspapers, is the subscription through their own subscribing network. Such subscribing networks have been created because the editors wanted to increase the number of subscribers, thus adding up to the subscriptions made through the post office. Taking into account the disadvantages of the post office subscription method, the newspapers subscription network aims at eliminating these disadvantages and thus earning more subscribers, even those who were initially unwilling to subscribe to these publications, given the drawbacks.Despite the higher price, the subscribers adhering to this network generally have the following advantages: – the newspaper is delivered early in the morning, offering the possibility to be read and get in touch with the latest information even before going to work or start the daily activities; – the paper is delivered even on Saturday, inclu ding in the rural areas where the network has collaborators and coverage; – there is also the possibility the payment throughout the first subscription days, especially for the new clients, to give them the possibility to appreciate the way in which the paper is delivered; – the claims and complaints are more promptly analysed and solved by the editor's personnel in charge of this aspect. Creating such subscription networks involves a considerable effort from the editor's side, being necessary to employ new people, both for the contracting part, and for the distribution of subscriptions part for the entire area to be covered. Alongside with these aspects, it is also necessary to have people that would coordinated this activity, that is to distribute newspaper packets in the locations where the subscription distributors come and pick them up and finally deliver them to the clients etc. c) Promotions and protocols A part of the total circulation number is represented by promotions and protocols.The newspaper Gazeta de Sud, but other newspapers, too, financially support this activity and have constantly resorted the so-called promotional subscriptions (subscriptions at reduced prices or even awarded free of charge), whose role is: – to achieve an intensive increase in the number of subscribers in the area where there is a deficit from this point of view; – to regain the lost subscribers; – to reward certain faithful readers; – to slightly raise the audience of the newspaper; There were many situations when a certain number of copies of a newspaper edition were given free of charge, with the purpose to promote the newspaper on the event of special occasions. In the case of protocols, these are represented by the newspapers regularly given, free of charge, to several public institutions or radio or television stations which broadcast shows about related to press reviews.Analysing the data at the end of 2011 the structure of the circulation number is the following: – 45% represent the subscriptions by the Romanian Post; – 25% subscriptions by their own distribution network; – 18% selling the newspaper at the news stands; – 8% selling the newspaper by the newspaper sellers; – 4% protocols and promotions; It can be concluded that 70% of the product buyers are faithful readers of the newspaper and that they regularly buy it by the subscription system, while the retail selling (at the news stands or by the newspaper sellers) provide only 26% of the total circulation number, additionally having the disadvantage to deal with the returned items (newspaper copies left unsold) which represent financial loss for the company. From the data analysed during 2008-2011 ( table no. 1), we note that there is a decrease in the newspaper selling figures with 43%, the most influenced being the subscription selling by its own network, which dropped with 76% and could not be compensated by the growth in the subscription rate by the Romanian post office of 36% as compared to 2008. Table no. 1. The sales evolution during 2008-2011 Year Subscription by Subscription by Retail selling at Retail selling by post network news stands newspaper sellers 2008 97. 436 118. 994 1. 704. 162 200. 000 100. 347 1. 396. 995 175. 800 72. 162 1. 088. 833 94. 681 29. 581 963. 756 83. 04 Source( Internal Report of Organization) Among the factors that contributed to this situation, we mention: – the rise of the subscription price as a consequence of rising the price of the raw material and utilities; „ACADEMICA BRANCUSI† PUBLISHER, ISSN 1844 – 7007 2009 2010 2011 79. 634 91. 429 132. 694 146 Annals of the „Constantin Brancusi† University of Targu Jiu, Economy Series, Issue 3/2012 – the renouncement to certain distribution routes because of their lack of profitability; – the decrease of the population income, which made them unsubscribe the newspaper system. As a result of the data analysis, the greatest part of the population that subscribe to the newspaper are old people (over 55% of the subscribers are retired people) followed by the population of the age group 45-55 years ( approx. 30%).With the purpose of increasing the sale figures and the market quota, the press features may be used accordingly, namely by adopting or allowing for: – measures to keep the current clients faithful to the newspaper, materialised in flawless distribution, attractive price, gifts, prompt complaints solving of clients unsatisfied with the paper distribution by its own distribution system. The company has to take measures to revise the whole distribution system of the subscribed newspaper so that to improve the acquisition efficiency and the number of subscribers, because the recruitment value and number of subscribers are extremely important factors for the survival and profit generation in a business with a subscription sellin g strategy component. The reasons for not subscribing, as mentioned above, may become mostly known by surveys. The activity of attracting new clients is much more costly and given this fact new programmes should be created to keep the current clients. measures to attract new subscribers by setting up a telemarketing service, through which potential clients are contacted by phone and asked if they are willing to subscribe to the newspaper network, offering, together with other companies, promotional materials for the clients who subscribe for a longer period of time; – contacting the lost subscribers in order to establish the causes of their refusal to continue the subscription and to try, where possible, to remedy the complaints; there is also the possibility to offer reduced price subscriptions or even free subscriptions for short time intervals to make the client aware that the complaints were solved; – creating a prize awarding, extremely motivating for the newspape rs sellers and the subscription agencies that obtain very good results in their activity; – giving clients the possibility to subscribe by sending an SMS (the cost for the SMS is the equivalent price for the monthly subscription, and the client is contacted after the SMS in order to obtain all the information necessary for the delivery); ? rganising a retribution system for the post workers with good results in their activity to conclude subscriptions; ? organising a system for the so-called promotional subscriptions destined to certain locations where the paper can be read (open air cafe bars, medical cabinets, notarial offices etc. ) a situation in which the client pays the full subscription price and gets other 2-3 free subscriptions. – entering on a bigger market by a more aggressive advertising campaign; – improving the quality of the newspaper articles and actively involving the readers in the community life, a strategy that would attract a greater number of readers motivated by their involvement in the daily problems of their community.The company position is, also, seriously affected by the presence of a very high number of information sources and news that contribute to the decrease in the content value, but also to the impossibility of protecting the content; – rethinking the offer system for the online readers by paying a monthly subscription in order to have access to the content of the newspaper. The new payment model must be reorganised so that the media companies may sell packages of products that include subscriptions to the print newspaper and to the online version. Thus, the subscribers to the print version may have access also to the online version and to the smart phone /tablet version.This payment structure encourages readers to subscribe to the print edition and subsequently to support the maintenance of the circulation number. Furthermore, the attention of the clients is drawn, from the idea of restriction, to the idea of full access to the information, by any means. The strategies adopted by the press trusts for overcoming the crisis must be correlated with the resource strategies, especially since the costs for the workforce in this activity domain represent an important part of the final product cost. Given this fact, we consider that the analysis of the company's activity has to be drawn up in direct correlation with the human resource strategy for the selling component.We claim that the personnel restructuring and the dissolution of the distribution networks are supposed to be the last resort strategy, used only after all the other strategies have been analysed and eliminated, because, once the distribution network is lost, it can hardly be re-established due to higher costs. Recruitment and selection of the selling workforce in the domain are characteristics determined by the specific activity. When analysing the activity, one have to take into account a series of aspects, namely: a). the number of the current publications in the region; b). the recruitment and selection of the selling workforce, which is difficult since the revenues obtained from selling the newspaper is low; c). the geographical area where the publication is.With the purpose of winning the market, a series of major investments must be applied and, as opposed to other activity domains, we claim that the most important investment must be made in the human resources. It should not be neglected that a newspaper sells information. Some of the arguments in favour of the opinion that the human resource is the most important component are related to the quality of the newspaper articles, to the research methods „ACADEMICA BRANCUSI† PUBLISHER, ISSN 1844 – 7007 147 Annals of the „Constantin Brancusi† University of Targu Jiu, Economy Series, Issue 3/2012 and subject approach and to the manner in which the readers are captivated by the headlines.Another challenge is adjus ting to the new needs and reading behaviour of diverse segments of readers, but many did not understand this aspect, despite the market data reports about the focus groups present in each trust. Overcoming the crisis does not presupposes only restricting the activity. On the contrary, as we mentioned before, it involves the quality improvement of the product. Another strategy that should be adopted by the local publications could be the identification of new distribution channels and the improvement of advertising offers to atract important clients in need of advertising. We should not forget that the important local advertising clients were the real estate investors, the banks and the auto dealers.Once the crisis was installed, most of the private and public companies have reduced their advertising budgets. Many of these companies limited their activity or even disappeared from the market, others oriented towards different mass media channels: television or radio. Another option to increase sales is to withdraw from the advertising companies in which many newspapers sell their available inventory. These companies get big commissions, and sometimes the publisher gets 5-10% of the advertising list price. The dependence to third parties for advertising selling visibly affects the newspapers performance. Those who already have their own selling teams debate on the opportunity to use the same people both for selling print and online.There are opinions supporting these convergent views, but there are also those who consider that a separate team for online selling would be more efficient. They claim that it is very hard for a sales manager to motivate and train a team that is supposed to have different selling techniques and completely different financial expectations. Likewise, in order to be complete and functional, the selling strategy presupposes the elaboration of an entire set of specific forms: the report forms, the market reports regarding the competing news papers, the press monitoring reports, the buffer stock, the monitoring report for the selling agents routes, reports regarding the number of new activity routes or new clients etc.The marketing and selling strategy of the organisation implies finding solutions to attract clients, not only by offering appealing discounts, but also by providing better articles with a more interesting content, or, in the case of the press trusts that have the opportunity of using several media channels, by offering common packages for clients. For example, those publications that do not abandon their online version of the newspaper have to find new ways to attract advertising clients for its both versions, the print and the online, eventually using these common packages. First of all, a coherent marketing approach should be based on a clear definition of the market and the audience.When all the departments of a company work together to meet the needs and the interests of the consumer, the result may be a successful one. It implies that the action should unfold on two levels: firstly, it refers to the functional components of the marketing system – the selling workforce, the advertising, the relationship with the clients, the product management, the marketing research that need to work together. Secondly, marketing should be supported, understood and accepted by all the other departments. To support the team work in a inter-department team, the organisation has to apply internal and external marketing. The external marketing is directed to the audience outside the organisation.The internal one, refers to employing, training and motivating certain capable and talented employees, which will serve the interests and the needs of the clients. The internal marketing precedes the external marketing. For an organisation, there is no point in promising excellent services before being capable to actually offer them. A selling team that is not supported by the strategic marketing cann ot successfully accomplish the selling objectives. It is very difficult to build a selling team in print media and it is more difficult to motivate it. The company existence is dependent on the way in which the selling team interacts with the clients. The strategies for keeping the products on the market should be tailored to meet the new, continuously changing expectations of the consumers.The content quality and the reputation of the publication based on the professionalism of the journalists will be the basis for the future strategies in the media businesses. 3. Conclusions Should the press trusts want to develop future strategies, they have to to be aware of the globalisation effect, of the economic changes and the new technologies and their impact on the entire media industry. It is unnatural to offer common solutions for all consumers, especially under the circumstances brought by the explosion of the Internet. There is the need for separate offers, in accordance with the publ ic segments: traditionalist users, new media users etc.This segmentation is not easy to realise and all the needs that the publication has to meet should be clearly, honestly and precisely defined. Defining and targeting a clear value for the readers and the advertising clients will help the publication have better chances to resist on the market. At the moment, thousands of papers throughout the world are caught in a fight with the Internet. Nobody knows what will happen, which of them will win the fight, or how the survivors will look like after the final round. On one hand, the new technology has led to an audience increase, and on the other hand the selling figures of the print newspapers have significantly dropped.Thus, the most aggressive competitor of the traditional selling networks in the print press is the Internet. Despite the fact that the costs for the online version of the newspaper are lower compared to the print version, the editors still don't know or don't understa nd the online phenomenon and for this new competitor they have to find solutions to reinvent themselves. „ACADEMICA BRANCUSI† PUBLISHER, ISSN 1844 – 7007 148 Annals of the „Constantin Brancusi† University of Targu Jiu, Economy Series, Issue 3/2012 In print press, the business model was almost identical regardless of the advertising type: creating and distributing informational content and attaching advertising to that content.The expenses generated by the printing, distribution and salaries were covered from the newspaper selling (30%) and advertising (70%) [13]. There has never been a profound relationship between the advertising and the articles. The advertising clients had no choice in the matter, lacking alternatives for the promotion of their products or services. Their only requirement regarded the number of sold newspapers and the targeted audience. Under the current circumstances, the Internet development furthers more and more the content of t he information and advertising. Practically speaking, we ask ourselves: Which are the reasons for selling a newspaper, given that all the information may be found on the Internet? and What determines the clients to allocate budgets for the print press?As long as there are readers who want to read the newspaper in its print form, no matter what the fluctuations are, there will a market for this product and therefore the press trusts will have to find the best methods to survive. The greater the challenges for the companies management, the more difficult it is to anticipate the future of the press, no matter how many surveys will be carried out. Nowadays, under the given circumstances, the selling teams have the task to find the best solutions to attract advertising clients on one hand, and to find solutions for keeping the distribution channels for the newspaper, on the other hand. 4. Bibliography [1] Bertrand, C,J- O introducere in presa scrisa si vorbita, Ed. Polirom, Iasi, 2001 [2 ] Coman, M, Introducere in sistemul mass media , Ed.Polirom, Iasi 2007 [3] Kotler, Philip, Managementul marketingului (traducere), Editura Teora, Bucuresti, 2000. [4] Stefanescu, Paul, Bazele marketingului, Editura Didactica si Pedagogica, Bucuresti, 1994. [5] *** www. activewatch. ro -Raport Free Ex 2011 pg. 7 [6] *** www. ancom. org. ro [7] *** www. business24. ro-Piata media iese din criza. In 2012 va inregistra primele cresteri dupa 3 ani de foc [8] *** www. brat. ro [9] *** www. hotnews. ro-media publicitate [10] *** www. journalism. org [11] *** www. mediaddict. ro [12] *** http//stateofthemedia. org – The state of the new Media 2012 [13] *** www. studiu-deloitte. ro-tendintele-media-2010 „ACADEMICA BRANCUSI† PUBLISHER, ISSN 1844 – 7007 149