Summary the artical Essay Example | Topics and Well Written Essays - 500 words

Summary the artical - Essay Example Blue oceans consist of all those industries that create new demand and market or expand the boundaries of the existing demand and market. By doing so, they generate new opportunities for profit and growth. Blue oceans have been a source of growth in the past and will remain so in the future. Emergence of new industries and wide products differentiation in the existing ones in the past demonstrate this phenomenon. As globalization spreads and barriers fall further, red oceans will increasingly become competitive with more products standardized resulting in price wars and reduced profitability. Only blue oceans will ensure growth and profit in the future. However, paradoxically, there is a bias in favor of red oceans. A study found that, out of 108 new ventures, 86 percent pursued red oceans strategy contributing to 62 percent of revenue and 39 percent of profit. Only the remaining 14 percent new ventures followed blue ocean strategy but they contributed 38 percent of revenue and 61 percent of total profit. Blue oceans have four defining features, as identified based on the data of 100 years in auto, computer, and movie and theater sectors. First, firms might create blue oceans through technological innovation in some cases but they tweak the existing technology to new uses in most cases. Second, existing firms often create blue oceans within their core competency areas rather than stepping out to new frontiers. Third, the most appropriate unit of analysis is not a firm or industry but the strategic move involving managerial actions and decisions to tap the blue oceans of demand and market. Fourth, creation of blue oceans builds new brands. Strategic orientation is more important than large R & D budget to create new market space. Red ocean strategy and blue ocean strategy have their own characteristics. In red ocean strategy, firms compete in the existing market space, beat the competition, exploit the existing demand, make a trade-off

EVALUATING MINIMUM WAGE AS A LEGAL PRICE Research Paper

EVALUATING MINIMUM WAGE AS A LEGAL PRICE - Research Paper Example Equilibrium wage price in this case, is the price of labour in which the supply is equal to the demand. The thesis statement for this paper is that the minimum wage, which varies from time to time, has great impact to the labour market and it is the same throughout the nation. The topic studied in this research paper is very important to the economists. It serves the purpose of exploring the minimum wage as a legal price in depth. The topic has a great impact to different economic actors. One of its impacts is that it enables policy makers to determine the gains and losses that should be expected from a policy to raise minimum wage (Welch & Welch, 2009). It also enables the human rights advocates to know the extent to which they can force the government to increase minimum wage. For the government, it could enable it to realize how it can control its economy using the minimum wage. The first major point in this research paper was that the minimum wage has a great impact to the labour market. As Mankiw (1998) indicates, minimum wage raises the income of the working people but increases unemployment. In terms of demand as supply curve for labor, we can say that if the minimum wage is above the equilibrium price for labor, employers will employ fewer laborers. As a result, there will be an increase in unemployment. However, if the minimum wage is below the equilibrium price for labor, it will not have any effect to the levels of unemployment. Another major point in this research was that minimum wage as a legal price has been changing from time to time. Currently, a proposal was made to increase minimum wage and it has already been implemented by some states (Brux, 2007). This was an effort to keep the minimum wage in-line with the economic situation in the country. The economic situation in the country has been worsening with inflation increasing on annual basis. Therefore, the value of money declined and hence there was a need to

Management accounting Assignment Example | Topics and Well Written Essays - 1000 words - 2

Management accounting - Assignment Example Before I begin discussing this statement, I would like to make my stand known. I disagree with this statement and I welcome the opportunity to argue and defend my case; this disagreement will form the bedrock of my whole discussion. Based on research and my professional experience, modern developments like activity-based costing (ABC) have brought significant benefits and advantages to businesses and organizations everywhere regardless of the size (small, medium-sized and large). These developments have allowed businesses and organizations to implement more efficient systems that guarantee long-term growth provided the implementation process is done correctly and professionally (Cotton 2001, pg. 29). ABC, for example, is a recent modern development/innovation that has been rapidly adopted by organizations in many industries. Governments and NGOs have also been quick to adopt and implement ABC and to make it a core component of their management policies. This shows that there must be something beneficial about these modern developments and ABC in particular, their fanciness is inconsequential to their primary functions. It is important to note that the adoption of such developments/innovations is not done in a wholesale manner because they come with their own disadvantages that must be addressed (Lucas 2006, pg. 39). However, overall, such developments are more beneficial and therefore rightfully warrant adoption and adoption. Let us go back to ABC. This is a technique employed in determining correct costs. It is used to assign resource costs (based on activities that are conducted) to cost objects like customers products, or services. The basis for the ABC approach to costing is that an organization’s products or services stem from activities. Activities consume resources which in turn incur costs. In ABC, the costs of resources are normally assigned to activities on the basis of

Researching gender and crime Essay Example | Topics and Well Written Essays - 1750 words

Researching gender and crime - Essay Example This paper, incidentally will be concerned with evaluating and giving a detailed analysis of the research in two stages: stage one will look into summarizing the entire research work while stage two will be on an evaluation of the research based on the methodology. Research in Criminology is often described as an investigation often conducted on any phenomenon that is linked to any or all existing aspects of the criminal justice system (Dantzker and Hunter, 2012).Therefore, any research that pertains to criminology should bear themes that pertain to criminal acts, the social justice, offenders, legal or illegal actions to mention but a few. In the article, the research was carried out on five male ex-offenders who attempted to give a description of their distinct experiences of life after prison; this in itself already qualifies the research with reference to its appropriateness in Criminology. There is also a need to understand that research in Criminology is often divided into two: applied research and basic research; in this particular research, applied research has been incorporated as it focuses on one particular issue, the ex-offenders’ status and how it impacts self and gives implications of the effects top foster change. To know if at all the research is valid; it is necessary to contextualize how it was conducted in light of how criminological research should be carried out. To begin with, the research problem is clearly defined in terms of what the study intends to look into which are the experiences that the ex-prisoners go through after leaving prison specifically in terms of employment, self-change and identity. Objectives in research are detrimental as they give the researcher a sense of direction; in the study the objective is captured under the purpose of study, which is to understand the experience of

Alcan case study analysis Essay Example | Topics and Well Written Essays - 1500 words

Alcan case study analysis - Essay Example In its entirety, business management is highly critical and constantly evolving especially in the aspect of resources, and this is the central idea where the Alcan case revolves around, managing the work force, because people is the most essential asset of any business that hopes to be successful for the long term2. In the Alcan case, the conflict created by lack of communication and the inability to effectively manage the work force created placed the smelting industry at risk of loosing enormously even to a point of closure. The succeeding paragraph will therefore attempt to dissect each of the issues contributing to the tension as well as the solutions that were implemented, ending the rift between management and labor union. The main issue involved in the Alcan Case is Industrial labor relations creating an impact in the productivity of the manufacturing plant. In an industry that utilizes human resource as the main key to productivity, human resource management plays an imperative role in the sustainability of that industry whereby excellent degree of skills are required to handle issues from recruitment requisites, skills training and performance ensuring personnel and management policies conforming to regulations. Managing the work force as well production is a very complicated task that requires a higher level of understanding of theories related to management and organization. There are many proponents to these theories, and almost all of them are relevant to the issues present in the Alcan Case. It is important to note that the core of the Alcan issue involves the increasing grievances of the workers owing to the tension within. Among the theory applicable to this case is the system theory whereby managers are to recognize the various parts of the organization when attempting to resolve issues There are several contemporary theory of management, among them includes contingency, system and chaos theory. Contingency theory asserts that when managers make a decision, they must take into account all aspects of the current situation and act on those aspects that are key to the situation at hand3. System theory on the other hand, helps managers view the organization from a broader perspective, since this theory brought a new perspective for the interpretation of patterns and events in the workplace. It recognizes various parts of the organization, specifically the interaction and coordination within central administration with its programs, engineering with manufacturing, supervisors with workers. Chaos theory recognizes that events indeed are rarely controlled. In his article, Mcnamara claimed that many chaos theorists refer to biological systems when explaining their theory and suggest that systems naturally go to more complexity, and as they do so, these systems become more v olatile (or susceptible to cataclysmic events) and must expend more energy to maintain that complexity. As they expend more energy, they seek more structure to maintain stability. Mcnamara further said that this trend continues until the system splits, combines with another complex system or falls apart entirely. This trend is what many see as the trend in life, in organizations and the world in general4. The underlying root cause of the Alcan/Lynemouth smelting industry was a classic case of human resource mismanagement. There was an

Working with the Excellence Model - Critical Analysis Essay

Working with the Excellence Model - Critical Analysis - Essay Example Business excellence model was devised by the European Foundation for Quality Management in 1991; originally it is based on the Total Quality Management that is needed for the holistic development and the growth of the organization. This model is divided into two aspects – results which are sign of business success and enablers, which are indicators of practices inside the organization that can ultimately lead to business success. Business excellence is the meticulous tool to treat with quality management and business management. The objective of this business management is to improve performance that built on the rectitude of customer‘s focus, stakeholders value and process management. This paper is attempted to critically analyze the Business Excellence Model in relation with Cornwell Headland Hotel organization. The European Foundation of Quality Management (EFOM) described Business Excellence as formidable practices in governing the organization and attaining results, all these practices merely depend on a set of eight rudimentary concepts (Juran, 1972). These notions are: orientation of results; customer’s focus; leadership; management; people involvement and their development; constant learning; innovation and improvement; partnership development and public responsibility. This model requires excellence framework to redesign business plans and process control in organization (porter, 2012). From last few years, organization went through a great competition with other organizations on international level, which ultimately increases the demand of customer’s in market (Taguchi, 1986). On the repercussion of customer’s demand, most of the organizations acquired Excellence model. These model mainly consist of total Quality Management (TQM), Business Process Engineering (BPE), Business Excellence (BE), Performance Excellence (PE), lean thinking (Porter and Turner 2012). Headland hotel start their improvement journey for getting the benefits by using Excellence Model and modify their management according to this model by using its different approaches. Headland hotel organization gets a clear idea about their flaws in management and they seem to be very interesting or satisfied when they called for the Tourism Skills Network six month program. According to the Glimour (1995) the excellence framework is the actual plan of the organization that marks the organization towards the success. Self-assessment is the key practice of the excellence framework. Self-assessment allows the headland hotel to check their position in the market in excellence. Ishikawak (1990) also explain this way of organization to judge their capabilities and their outcomes with the present strategy and can make new ones for improvement to increase their profit. According to Porter and Turner (2012) the self-assessment can be done by using different approaches. They can start their assessment by choosing the framework that is according to the business plans but before this they should form assessment team that consists of all hard working employees. The next step is to collect the information from the external partners, assess the facts and do scoring of all collected data in database. According to Hoyle (2009) the clarification and verification of data should be done by organization collected from external partners. Then through questionnaire get the feedback of customers and plans the action according to their feedback. Self –assessment not only give headland hotel a continuous improvement by forgetting everything other than business but it also gives a base-line measure of the organization for their utilization and encouraged senior management involve in business excellence (Kadolf, 2007). It also gives motivation too. Self-assessment

Food Safety Bulletin Essay Example | Topics and Well Written Essays - 500 words

Food Safety Bulletin - Essay Example Their children will get ill and in return they not only have to spend extra cost on medical but the mental pressure they have to go through is much worse. So it is necessary to educate the people regarding the health issues, food etc but most of our society is ill-literate. It is mostly believed that the food is not harmful but things like raw meat, poultry, fish , eggs contains bacteria which are harmful so in such a case media is of great importance. Television, radio can be used to target market. In places where people have no such knowledge electronic media will be able to give them knowledge about the safety precautions which should be adopted. It is not necessary that only the raw food contains bacteria it can be contaminated at the time of purchase too. So mishandling is one of the greatest errors which are responsible for food-borne illness. Food safety centers should be established which should guide the public regarding the raw meat. At what temperature it should be kept in the freezer and for how long it will survive? Meat should not be left opened because bacteria tend to multiply very soon it should be rinsed as soon as possible and should be kept at the required temperature.