Portfolio Management Statistics Project Example | Topics and Well Written Essays - 2250 words

Portfolio Management - Statistics Project Example The stock returns values experience wide variance due to the fluctuation in portfolio weights across the period. From the set of 28 stocks, the time series was filtered on the criteria of performance to retain the 11 stocks shown in the time series as the most efficient portfolio. The process of refining the investment involved ignoring the portfolio with low weights and retaining the high weight portfolio. The selection aimed at picking 3 stocks with the best returns to represent the high efficiency required in the pool decision. The high efficiency stocks were found to be IBM and MMM. The decision was made on the values based on the original currency returns. The time series for the refined investment pool carries the following stock: The major reason for reducing the number of stocks in the refined investment is that many assets have caused a wide variation of the portfolio weights and return on investment (Tobin 1958, p. 65). The analysis sets up individual each of the assets independently to as to classify them as either risky assets or risk free assets using the correlation projections. The refinement judges the investment by their return, hence; it operates with the few selected manageable stocks to reduce the portfolio size by ignoring the low return stocks. The tangent portfolio was constructed using the Matlab program. The program uses the data entries from the covariance matrix with the new weights of portfolios. The mean return values and the optimal portfolio variances are shown with the least variance portfolio return averaging approximately 14.6%. After making the entry of the matrix, the exercise is repeated for the reduction of the variance to show the restricted efficient frontier as shown in figure 6 below. The assumption made in the construction of the frontier is that investment can run on negative portfolio weights, even though the current weights are positive. The

The Organization of the Petroleum Exporting Countries Essay Example for Free

The Organization of the Petroleum Exporting Countries Essay The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five Founding Members were later joined by nine other Members: Qatar (1961); Indonesia (1962) – suspended its membership from January 2009; Libya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973) – suspended its membership from December 1992-October 2007; Angola (2007) and Gabon (1975–1994). OPEC had its headquarters in Geneva, Switzerland, in the first five years of its existence. This was moved to Vienna, Austria, on September 1, 1965. OPECs objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry. The 1960s OPEC’s formation by five oil-producing developing countries in Baghdad in September 1960 occurred at a time of transition in the international economic and political landscape, with extensive decolonisation and the birth of many new independent states in the developing world. The international oil market was dominated by the â€Å"Seven Sisters† multinational companies and was largely separate from that of the former Soviet Union (FSU) and other centrally planned economies (CPEs). OPEC developed its collective vision, set up its objectives and established its Secretariat, first in Geneva and then, in 1965, in Vienna. It adopted a ‘Declaratory Statement of Petroleum Policy in Member Countries’ in 1968, which emphasised the inalienable right of all countries to exercise permanent sovereignty over their natural resources in the interest of their national development. Membership grew to ten by 1969. The 1970s OPEC rose to international prominence during this decade, as its Member Countries took control of their domestic petroleum industries and acquired a major say in the pricing of crude oil on world markets. On two occasions, oil prices rose steeply in a volatile market, triggered by the Arab oil embargo in 1973 and the outbreak of the Iranian Revolution in 1979. OPEC broadened its mandate with the first Summit of Heads of State and Government in Algiers in 1975, which addressed the plight of the poorer nations and called for a new era of cooperation in international relations, in the interests of world economic development and stability. This led to the establishment of the OPEC Fund for International Development in 1976. Member Countries embarked on ambitious socio-economic development schemes. Membership grew to 13 by 1975. The 1980s After reaching record levels early in the decade, prices began to weaken, before crashing in 1986, responding to a big oil glut and consumer shift away from this hydrocarbon. OPEC’s share of the smaller oil market fell heavily and its total petroleum revenue dropped below a third of earlier peaks, causing severe economic hardship for many Member Countries. Prices rallied in the final part of the decade, but to around half the levels of the early part, and OPEC’s share of newly growing world output began to recover. This was supported by OPEC introducing a group production ceiling divided among Member Countries and a Reference Basket for pricing, as well as significant progress with OPEC/non-OPEC dialogue and cooperation, seen as essential for market stability and reasonable prices. Environmental issues emerged on the international energy agenda. The 1990s Prices moved less dramatically than in the 1970s and 1980s, and timely OPEC action reduced the market impact of Middle East hostilities in 1990–91. But excessive volatility and general price weakness dominated the decade, and the South-East Asian economic downturn and mild Northern Hemisphere winter of 1998–99 saw prices back at 1986 levels. However, a solid recovery followed in a more integrated oil market, which was adjusting to the post-Soviet world, greater regionalism, globalisation, the communications revolution and other high-tech trends. Breakthroughs in producer-consumer dialogue matched continued advances in OPEC/non-OPEC relations. As the United Nations-sponsored climate change negotiations gathered momentum, after the Earth Summit of 1992, OPEC sought fairness, balance and realism in the treatment of oil supply. One country left OPEC, while another suspended its Membership. The 2000s An innovative OPEC oil price band mechanism helped strengthen and stabilise crude prices in the early years of the decade. But a combination of market forces, speculation and other factors transformed the situation in 2004, pushing up prices and increasing volatility in a well-supplied crude market. Oil was used increasingly as an asset class. Prices soared to record levels in mid-2008, before collapsing in the emerging global financial turmoil and economic recession. OPEC became prominent in supporting the oil sector, as part of global efforts to address the economic crisis. OPEC’s second and third summits in Caracas and Riyadh in 2000 and 2007 established stable energy markets, sustainable development and the environment as three guiding themes, and it adopted a comprehensive long-term strategy in 2005. One country joined OPEC, another reactivated its Membership and a third suspended it. Venezuela and Iran were the first countries to move towards the establishment of OPEC in the 1960s by approaching Iraq, Kuwait and Saudi Arabia in 1949, suggesting that they exchange views and explore avenues for regular and closer communication among petroleum-producing nations.[citation needed] The founding members are Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Later members include Algeria, Angola, Ecuador, Gabon, Indonesia, Libya, Qatar, Nigeria, and the United Arab Emirates. In 10–14 September 1960, at the initiative of the Venezuelan Energy and Mines minister Juan Pablo Perez Alfonso and the Saudi Arabian Energy and Mines minister Abdullah al-Tariki, the governments of Iraq, Iran, Kuwait, Saudi Arabia and Venezuela met in Baghdad to discuss ways to increase the price of the crude oil produced by their respective countries.[citation needed][6][7] Oil exports imports differenceOPEC was founded to unify and coordinate members petroleum policies. Between 1960 and 1975, the organization expanded to include Qatar (1961), Indonesia (1962), Libya (1962), the United Arab Emirates (1967), Algeria (1969), and Nigeria (1971). Ecuador and Gabon were early members of OPEC, but Ecuador withdrew on December 31, 1992[8] because it was unwilling or unable to pay a $2 million membership fee and felt that it needed to produce more oil than it was allowed to under the OPEC quota,[9] although it rejoined in October 2007. Similar concerns prompted Gabon to suspend membership in January 1995.[10] Angola joined on the first day of 2007. Norway and Russia have attended OPEC meetings as observers. Indicating that OPEC is not averse to further expansion, Mohammed Barkindo, OPECs Secretary General, recently asked Sudan to join.[11] Iraq remains a member of OPEC, but Iraqi production has not been a part of any OPEC quota agreements since March 1998. In May 2008, Indonesia announced that it would leave OPEC when its membership expired at the end of that year, having become a net importer of oil and being unable to meet its production quota.[12] A statement released by OPEC on 10 September 2008 confirmed Indonesias withdrawal, noting that it regretfully accepted the wish of Indonesia to suspend its full Membership in the Organization and recorded its hope that the Country would be in a position to rejoin the Organization in the not too distant future. [13] Indonesia is still exporting light, sweet crude oil and importing heavier, more sour crude oil to take advantage of price differentials (import is greater than export). 1973 oil embargo[edit]Main article: 1973 oil crisis In October 1973, OPEC declared an oil embargo in response to the United States and Western Europes support of Israel in the Yom Kippur War of 1973. The result was a rise in oil prices from $3 per barrel to $12 and the commencement of gas rationing. Other factors in the rise in gasoline prices was the peak of oil production in the United States around 1970 and the devaluation of the U.S. dollar.[14] U.S. gas stations put a limit on the amount of gasoline that could be dispensed, closed on Sundays, and limited the days gasoline could be purchased based on license plates. Even after the embargo concluded, prices continued to rise.[15] The Oil Embargo of 1973 had a lasting effect on the United States. U.S. citizens began purchasing smaller cars that were more fuel efficient.[citation needed] The Federal government got involved first with President Richard Nixon recommending citizens reduce their speed for the sake of conservation, and later Congress issuing a 55 mph limit at the end of 1973. This change decreased consumption[citation needed] as well as crash fatalities[citation needed]. Daylight savings time was extended year round to reduce electrical use in the American home. Nixon also formed the Energy Department as a cabinet office.[citation needed] People were asked to decrease their thermostats to 65 degrees and factories changed their main energy supply to coal. One of the most lasting effects of the 1973 oil embargo was a global economic recession. Unemployment rose to the highest percentage on record while inflation also spiked. Consumer interest in large gas guzzling vehicles fell and production dropped. Although the embargo only lasted a year, during that time oil prices had quadrupled and OPEC nations discovered that their oil could be used as both a political and economic weapon against other nations 1975 hostage incident[edit]Main article: OPEC siege This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (September 2011) On 21 December 1975, Ahmed Zaki Yamani and the other oil ministers of the members of OPEC were taken hostage by a six-person team led by terrorist Carlos the Jackal (which included Gabriele Krocher-Tiedemann and Hans-Joachim Klein), in Vienna, Austria, where the ministers were attending a meeting at the OPEC headquarters. Carlos planned to take over the conference by force and kidnap all eleven oil ministers in attendance and hold them for ransom, with the exception of Ahmed Zaki Yamani and Irans Jamshid Amuzegar, who were to be executed. Carlos led his six-person team past two police officers in the buildings lobby and up to the first floor, where a police officer, an Iraqi plain clothes security guard and a young Libyan economist were shot dead. As Carlos entered the conference room and fired shots in the ceiling, the delegates ducked under the table. The terrorists searched for Ahmed Zaki Yamani and then divided the sixty-three hostages into groups. Delegates of friendly countries were moved toward the door, neutrals were placed in the centre of the room and the enemies were placed along the back wall, next to a stack of explosives. This last group included those from Saudi Arabia, Iran, Qatar and the UAE. Carlos demanded a bus to be provided to take his group and the hostages to the airport, where a DC-9 airplane and crew would be waiting. In the meantime, Carlos briefed Yamani on his plan to eventually fly to Aden, where Yamani and Amuzegar would be killed. The bus was provided the following morning at 6.40 as requested and 42 hostages were boarded and taken to the airport. The group was airborne just after 9.00 and explosives placed under Yamanis seat. The plane first stopped in Algiers, where Carlos left the plane to meet with the Algierian Foreign minister. All 30 non-Arab hostages were released, excluding Amuzegar. The refueled plane left for Tripoli where there was trouble in acquiring another plane as had been planned. Carlos decided to instead return to Algiers and change to a Boeing 707, a plane large enough to fly to Baghdad nonstop. Ten more hostages were released before leaving. With only 10 hostages remaining, the Boeing 707 left for Algiers and arrived at 3.40 a.m. After leaving the plane to meet with the Algerians, Carlos talked with his colleagues in the front cabin of the plane and then told Yamani and Amuzegar that they would be released at mid-day. Carlos was then called from the plane a second time and returned after two hours. At this second meeting it is believed that Carlos held a phone conversation with Algerian President Houari Boumedienne who informed Carlos that the oil ministers deaths would result in an attack on the plane. Yamanis biography[citation needed] suggests that the Algerians had used a covert listening device on the front of the aircraft to overhear the earlier conversation between the terrorists, and found that Carlos had in fact still planned to murder the two oil ministers. Boumedienne must also have offered Carlos asylum at this time and possibly financial compensation for failing to complete his assignment. On returning to the plane Carlos stood before Yamani and Amuzegar and expressed his regret at not being able to murder them. He then told the hostages that he and his comrades would leave the plane after which they would all be free. After waiting for the terrorists to leave, Yamani and the other nine hostages followed and were taken to the airport by Algerian Foreign Minister Abdelaziz Bouteflika. The terrorists were present in the next lounge and Khalid, the Palestinian, asked to speak to Yamani. As his hand reached for his coat, Khalid was surrounded by guards and a gun was found concealed in a holster. Some time after the attack it was revealed by Carlos accomplices that the operation was commanded by Wadi Haddad, a Palestinian terrorist and founder of the Popular Front for the Liberation of Palestine. It was also claimed that the idea and funding came from an Arab president, widely thought to be Muammar al-Gaddafi. In the years following the OPEC raid, Bassam Abu Sharif and Klein claimed that Carlos had received a large sum of money in exchange for the safe release of the Arab hostages and had kept it for his personal use. There is still some uncertainty regarding the amount that changed hands but it is believed to be between US$20 million and US$50 million. The source of the money is also uncertain, but, according to Klein, it was from an Arab president. Carlos later told his lawyers that the money was paid by the Saudis on behalf of the Iranians and was, diverted en route and lost by the Revolution.[17] The 1980s oil gluts OPEC net oil export revenues for 1971 2007.[18]In response to the high oil prices of the 1970s, industrial nations took step to reduce dependence on oil. Utilities switched to using coal, natural gas, or nuclear power while national governments initiated multi-billion dollar research programs to develop alternatives to oil. Demand for oil dropped by five million barrels a day while oil production outside of OPEC rose by fourteen million barrels daily by 1986. During this time, the percentage of oil produced by OPEC fell from 50% to 29%. The result was a six-year price decline that culminated with a 46 percent price drop in 1986. In order to combat falling revenues, Saudi Arabia pushed for production quotas to limit production and boost prices. When other OPEC nations failed to comply, Saudi Arabia slashed production from 10 million barrels daily in 1980 to just one-quarter of that level in 1985. When this proved ineffective, Saudi Arabia reversed course and flooded the market with cheap oil, causing prices to fall to under ten dollars a barrel. The result was that high price production zones in areas such as the North Sea became too expensive. Countries in OPEC that had previously failed to comply to quotas began to limit production in order to shore up prices.[19] Responding to war and low prices[edit]Main articles: 1990 oil price shock and 2000s energy crisis Leading up to the 1990-91 Gulf War, The President of Iraq Saddam Hussein recommended that OPEC should push world oil prices up, helping all OPEC members financially. But the division of OPEC countries occasioned by the Iraq-Iran War and the Iraqi invasion of Kuwait marked a low point in the cohesion of OPEC. Once supply disruption fears that accompanied these conflicts dissipated, oil prices began to slide dramatically. After oil prices slumped at around $15 a barrel in the late 1990s, joint diplomacy achieved a slowing down of oil production beginning in 1998. In 2000, Chavez hosted the first summit of OPEC in 25 years. The next year, however, the September 11, 2001 attacks against the United States,and the following invasion of Afghanistan, and 2003 invasion of Iraq and subsequent occupation prompted a sharp rise in oil prices to levels far higher than those targeted by OPEC themselves during the previous period. Indonesia withdrew from OPEC in 2009 to protect its oil supply. On 19 November 2007, global oil prices reacted violently as OPEC members spoke openly about potentially converting their cash reserves to the euro and away from the US dollar.[20] Production disputes[edit]The economic needs of the OPEC member states often affects the internal politics behind OPEC production quotas. Various members have pushed for reductions in production quotas to increase the price of oil and thus their own revenues.[21] These demands conflict with Saudi Arabias stated long-term strategy of being a partner with the worlds economic powers to ensure a steady flow of oil that would support economic expansion.[22] Part of the basis for this policy is the Saudi concern that expensive oil or oil of uncertain supply will drive developed nations to conserve and develop alternative fuels. To this point, former Saudi Oil Minister Sheikh Yamani famously said in 1973: The stone age didnt end because we ran out of stones.[23] One such production dispute occurred on 10 September 2008, when the Saudis reportedly walked out of OPEC negotiating session where the organization voted to reduce production. Although Saudi Arabian OPEC delegates officially endorsed the new quotas, they stated anonymously that they would not observe them. The New York Times quoted one such anonymous OPEC delegate as saying â€Å"Saudi Arabia will meet the market’s demand. We will see what the market requires and we will not leave a customer without oil. The policy has not changed. OPEC aid[edit]OPEC aid dates from well before the 1973/74 oil price explosion. Kuwait has operated a programme since 1961 (through the Kuwait Fund for Arab Economic Development). The OPEC fund became a fully fledged permanent international development agency in May 1980.

Death Penalty For Drug Trafficking

Death Penalty For Drug Trafficking I have chosen to focus on the death penalty for drug trafficking for the following reasons: Some governments will sentence those who are convicted for just the possession of drugs to the death penalty, while other countries are more lenient and do not do so. From this study, I want to know if the enforcement of the death penalty may affect drug trafficking through its deterrence effect. I also want to find out more on the present situation of drug trafficking and thus predict what may happen in the future, with regard to the application and the law on drug offences. Death Penalty for Drug Trafficking: Is it really necessary? Introduction Drug abuse produces long term consequences and problems in societies. Drug trafficking is a serious offence and drug traffickers should be punished. However, should the death penalty be imposed on drug traffickers? Do they deserve the death penalty? Some countries believe implementing the death penalty for drug trafficking has a deterrent effect and would control the drug problem. However, is this really the case? Which countries enforce the death penalty for drug trafficking? There are currently twenty-one countries which state in their laws that those whom are caught trafficking drugs and committing other drug offenses will face the death penalty. From Annex I, it shows that mainly countries in Asia, 18 out of 21, enforce the death penalty for drug trafficking. How does Singapores and Mexicos laws view drug trafficking? Singapore and Mexico were chosen because I want to see the contrast between the laws of a very strict country and one that has a drug war going on and producing a large amount of drugs. Singapore has strict, even draconian laws regarding the misuse of drugs and drug trafficking. This is shown in Singapores laws, under the Misuse of Drugs Act, which state that the trafficking of a certain amount of drugs will result in the person receiving a mandatory death penalty such as 250 grams of amphetamines and 1,200 grams of opium containing 30 grams of morphine. In addition, any person possessing over a certain amount of drugs, such as 15 grams of heroin, 500 grams of cannabis and 30 grams of cocaine  [1]  will be presumed drug trafficking unless proven otherwise and convicted of the death sentence.  [2]   On the other hand, Mexico, a major drug-producing and transit country, has laws which are much more lax than Singapore. Recently, a new law was passed in Mexico that decriminalized the simple possession  [3]  of drugs. Under this law it is stated that if person is found to possess an amount of drugs under the allowable quantity, they will just be told what are the possible drug rehabilitation options in their area.  [4]  The allowable amounts are 5 grams of marijuana and 50 milligrams of heroin, which both contain multiple doses, and 0.5 grams of cocaine. Even if a person is found to be in possession of up to 1,000 times the allowable amounts, he would only be sentenced to 10 months 3 years in prison.  [5]   What are the main arguments for and against the usage of the death penalty? This leads us to the issue of whether using the death penalty is justified for drug trafficking. There are quite a number of factors for people to support the death penalty. First, by killing the criminal, there is one less criminal in society to do harm, thus offering safety and protection. Secondly, it is a deterrent, as people may not want to take the risk to commit a serious crime if the punishment is death. Supporters say that death penalty has been made as humane as possible and can be carried out professionally.  [6]  The death penalty also helps justify the victims death.  [7]   However, there are also many factors to oppose using the death penalty for drug trafficking. Some religious groups say that life is sacred and killing should not be allowed in any circumstances and death penalty is not pro-life. Also, the imposition of the death penalty is a cruel and unusual punishment  [8]  . Opponents also believe that studies of death penalty for deterrence are highly exaggerated and arguments in those studies are flawed. In addition, death penalty is always cruel and can never be humane.  [9]  In the context of Singapore, opponents of death penalty feel that the usage of the death penalty may result in a higher chance of an innocent person being executed  [10]  as Singapore employs a guilty until proven innocent law.  [11]   After considering the arguments from both sides, I am against imposing the death penalty. This is mainly due to the fact that there is no confirmed deterrent effect resulting from imposing the death penalty. Though some studies advocate that enforcement of death penalty can deter people from committing crimes  [12]  , other studies indicated that there is insufficient evidence to prove that death penalty actually has a deterrent effect  [13]  . There is really no proof that a person would not commit a crime due to fear of execution. In addition, death penalty is irreversible, so any miscarriages of justice may result in grave consequences as the dead cannot be brought back to life. Does the death penalty for drug trafficking have a deterrent effect on criminals? There is little information regarding whether the death penalty for drug trafficking has an actual deterrent effect on criminals in Singapore. However, I have created a line graph showing a comparison of the number of drug related executions and the total number of drug abusers arrested in Singapore. Fig. 1 Number of drug-related executions  [14]  in relation to the total number of drug abusers arrested in Singapore in hundreds  [15]   From Fig. 1 above, it is shown that there is no correlation between the number of drug-related executions and the total number of drug abusers arrested in Singapore. There have been some instances where there has been some correlation though, from the year 1994 to 1997 both the numbers of drug-related executions and drug abusers dropped, albeit at different rates. Also, from 2000 to 2001, both numbers rose. However, this does not prove that there is a deterrent effect for the death penalty as the number of drug abusers should increase when the number of drug related executions drop. There are probably other factors affecting the number of drug abusers and drug-related executions such as the effectiveness of the criminal justice system, demographic changes and economic conditions. With a more effective criminal justice system, there could be more executions regardless of whether there is an increase or decrease in the number of drug abusers. Changing demographics could lead to more drug abusers if the change involved an increase in younger population between the ages of 13 to below 30. This however, may not necessarily lead to more executions though one would think that more drug abusers could lead to an increase in drug trafficking. There is just no simple correlation among these factors. When economic conditions are bad, the number of drug abusers may increase as people abuse drugs to relieve their unhappiness.  [16]  However, there may be less executions, since costs required for executing a person is quite high, over USD$1 million as a doctor is needed to be employed to certify the criminals death  [17]  . Is the death penalty really necessary? What would happen if all countries currently practising the death penalty abolish it in the next 20 years? With increasing pressure from Amnesty International and an ever increasing opposition to the death penalty, governments of countries would be under increasing pressure to abolish death penalty due to drug trafficking. In my opinion, the abolishment of death penalty may not lead to a surge of drug trafficking as drug trafficking is affected more by the demand for drugs than the fear of the death penalty. Also, there are other alternatives such as life imprisonment without parole. Also, what would happen to the society if the death penalty was abolished? As mentioned above, the abolition of the death penalty can occur due to pressure from Amnesty International and other organisations. I believe that society in general would not be much affected as there has not been any proof that death penalty acts as a deterrent. Hence, drug trafficking would not be greatly increased. Pro-life members of the society would welcome the abolishment while the supporters of death penalty would put pressure on the government to step up law enforcement to prevent increased drug trade and use. From the previous two scenarios, I conclude that imposing the death penalty for drug trafficking is not necessary because drug trafficking will not increase when the death penalty is abolished as there is no deterrent effect and it may help with tightening law enforcement on drug trafficking and abuse. Word Count: 1475

Most historians recognise 1917 as the year in which the Harlem :: English Literature:

Most historians recognise 1917 as the year in which the Harlem renaissance began. The Harlem Renaissance. Today most historians recognise 1917 as the year in which the Harlem renaissance began. Three events lead to this. First was the publication of two poems by Claude McKay. Second was the opening on Broadway of three plays about black life by a white writer, Ridgely Thomas. These plays were remarkable not only because they were performed by black artists but because they contained none of the usual racial stereotypes. Finally, on the 28th of July Harlem experienced its first silent parade when ten to fifteen thousand blacks marched down 5th Avenue to protest against continued racial inequities. However the rich surge in African American arts and letters that took place around the 1920’s was not limited to just Harlem, nor even to New York City. Although, the intensity of the movement was in that city, and the sheer number of black writers, musicians, and scholars who lived and worked in Harlem has ensured that it is linked with the era. To understand the Harlem Renaissance it is necessary to appreciate both the changes that occurred within the African community and the cultural shifts that took place in American society as a whole during the 1920’s. For blacks the years during and after World War one were ones of increased militancy and racial pride. Phillip Randolph was struggling to organise black workers and a national campaign was actively promoting federal antilynching legislation. Although white society did not take these political movements particularly seriously, it did give considerable recognition to the large number of black writers, musicians and scholars who were emerging simultaneously. These figures being people like, Countee Cullen, James Weldon, Zora Neale Hurston, Wallace Thurman and Jean Toomer. All lived in Harlem and Langston Hughes described the area as a â€Å"great magnet for the negro intellectual, pulling him from everywhere.† Yet Harlem was a magnet not only for blacks, but also for whites eager to experience for themselves the glamour and escapism that its night-clubs seemed to promise. In many ways Harlem became a national symbol of the Jazz Age, a complete antithesis of Main Street and everything that the artists and cultural critics of the 1920’s rejected. Many Observers, black and white, hoped that this outburst of literary and artistic talent would help to ensure greater acceptance of blacks by American Society.

Enron’s Questionable Accounting Practices

Enron used multiple strategic partners to help cover up their accounting schemes. Houston law firm Vinson ; Elkins’ top client was Enron. The law firm wrote opinion letters supporting the legality of the deals Enron was making even though they were illegal. Additionally, Arthur Andersen LLP was Enron’s auditor. More than 100 employees at Arthur Andersen were dedicated to Enron’s account. The firm was a major business partner of Enron and some Arthur Andersen executives accepted jobs with Enron. Some believe there was a conflict of interest.It is also believed Andersen was influenced to destroy auditing documents because of the large consulting fees Enron paid them. Also, Merrill Lynch, one of the largest investment banking firms, was also a contributor. They reportedly helped in a scheme of Enron’s to improperly record their earnings in 1999 through the sale of Nigerian Barges. Andrew Fastow, Enron’s Chief Financial Officer, is believed to be the ma stermind behind the partnerships used to hide the $1 billion debt that led to Enron’s bankruptcy.He defrauded Enron and its shareholders to make Enron look more profitable than it really was (â€Å"Castalar Articles†,  2005). Castalar Articles (2005) says, â€Å"People have described the organizational culture of Enron as being arrogant. Enron’s compensation plans seemed less concerned with generating profits for shareholders than with enriching officer wealth. Enron’s corporate culture reportedly encouraged flouting or even breaking the rules. Enron's focus shifted from working hard and being successful, to taking short cuts to stay successful.Former CEO Jeffrey Skilling is seen as the mastermind behind Enron’s fraudulent accounting. Skilling has been quoted as saying Enron could make â€Å"a kazillion dollars† in a new accounting scheme. He is also reported dumping 39 percent of his Enron stock before the company disclosed its financial troubles. † I think it is easy to say what we would have done in this situation. We would all like to believe we would have done the right thing and report the company and its CEO as well as the CFO. I know that I would have not stayed with a company I thought was acting unethically.If I had been hired to audit Enron, I would certainly not have swept things under the rug, destroyed documents or accepted bribes. I do not believe this behavior helps anyone in the end. If there would have been some honest reporting and accounting the company would have most likely been successful. However, due to greed and selfishness the company was driven into collapse. Source: Castalar articles. (2005). Retrieved from http://articles. castelarhost. com/enron_questionable_accounting_leads_to_collapse. htm

Marketing Plan for Magnum in Vietnam Essay

Marketing can be defined as â€Å"Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large† (American Marketing Association Board of Director) Base on this definition, Marketing is the set of activities and processes with the purpose that: satisfy the customers, clients, partners and society. In general, it can be said that marketing is the process that combine all company activities to satisfy the customers and, in the end, get profit from customer’s satisfaction. 2. Element in marketing process: Marketing process includes five elements: analysis situation, marketing strategy, marketing mix decision and implementation and control. Analysis situation is first step in marketing process. In this step, company has to collect information, data and figure to understand internal and external environment. Based on the result of the analysis, company can predict the trend of market and compute that whether its ability can adapt with the market or not. In order to carry out this step, the company can do three analyses below: PESTEL analysis: Political, Economic, Social, Technology, Ecological and Legal are five macro-economic factors. They are very important for company to evaluate the market and decide whether it can develop strongly in this market or not. SWOT analysis: This method helps company identify its strong and weakness, also the opportunity and thread. Understand these things can make company developing more stable and limit the risk. It can use the strong to limit the thread and the opportunity to improve the Strong and remove weakness. The meaning of the SWOT analysis can be described in the idiom â€Å"He who sees through life and death will meet most success† 5C analysis: 5 C means: company, customers, competitors, collaborators and Climate. In these things, â€Å"company† helps the firms understand the internal environment, and 4 other help it understand the external environment. All of three analysis methods will help company understand the situation to create the suitable strategy in marketing plan to get achievement. The second step in marketing process is marketing strategy. Of course, after finish situation analysis, company has to make strategy decision in marketing base on the analysis result. In this step, company has to identify the requirement of market and choose the suitable strategy to run business. It has to do the segmentation, the target market selection, the positioning the product and the proposition to the target market. In next step, the firm has to design tactical plan to achieve the purpose. It will make decision for the marketing mix. It includes: 4 P: Price – Place of distribution – Production – Promotion. When these things are completed, company will go to the final step: implement and controlling. Because the demand of market can change quickly, company has to monitor all the changes of market to have the change in marketing mix to adapt with the market and create the competitive advantage with competitor. Marketing process II. Marketing orientation: 1. Definition: Marketing orientation is a company philosophy aim to meet the needs and wants of customers. There are five type of marketing orientation: * Product orientation * Production orientation * Market Orientation * Sales Orientation * Social Orientation a. Product orientation: Product orientation is one of the marketing concepts, which focus on the product innovation to satisfy demand of customers. b. Production orientation: This kind of orientation focuses to the quantity of product. It existed in 1950s – the development period of industry in Europe and American. At this period, the firms make massive products to decrease the cost and product with huge quantity. The firms do not care about whether its product can meet the needs or not. This philosophy is popular in that period because it is the time which has many inventions and people have huge demand for something new and strange. The clear example for this philosophy is Ford. It produced many car in that time with just only color – black and it has many successes with this orientation. Today, this philosophy is no longer popular, but still exist in some industry that produce common product such as toothpick, CDs or DVD. c. Sales Orientation: The next orientation is sales orientation. This philosophy is applied when the company uses aggressive sales. They believe that they will make more sales and more profit when they use aggressive sales method. With these kinds of company, they will focus on promotion product and train the aggressive sales force, which helps them carry out the sale method. The good example for this philosophy should be insurance company. The disadvantage of this philosophy, same as production orientation, is that it does not focus to the customer’s requirement. It just tries to sales product as much as possible. d. Societal orientation: Societal orientation is the marketing concept that provides the long-term benefit for customers and shows its responsibility with social. The products of these companies have same features such as good for health, no harm environment and creating the long-term benefit for customers. They advertise the product through the charity activities. e. Market orientation: The last philosophy, also the main philosophy that is applied to Kinh Do Corporation, is market orientation. This orientation focuses on the customer’s needs and wants. The company produces product, which can satisfy the customer and use the customer’s satisfaction to create the profit. The benefit and cost of market orientation of Kinh Do Corporation will be discussed more in next part. 2. Evaluation cost and benefit of Market orientation in Kinh Do Corporation: As the assignment mentioned above, Market Orientation focuses on the customer’s needs and wants and the company will get profit base on the customer’s satisfaction. The relationship between customer’s satisfaction and company’s profit is shown in the chart below: As the chart shows, when the firm applies the marketing orientation, it will identify the demand of customers. After that, the firm will use the data from marketing department, and connect all the activities of company to carry out the plan, which has the purpose that satisfies the customer. When the customers are satisfied, they will create many benefits for the company, not only money, but also helps company advertise free with the word of mouth method. Kinh Do Corporation applies the marketing orientation, so it also gets the benefit from customers’ satisfaction. a. Benefits from Market orientation: The first benefit for Kinh Do when applying Market Orientation is: advertising free because of the word of mouth. With the suitable marketing plan, Kinh Do can satisfy the customers and improve the relationship between customers and company. With focus on the demand of customers, Kinh Do can improve the level of customer, from customer satisfaction to customer retention and customer loyalty. After getting success to satisfy customers, customers will loyal with Kinh Do’s product and will buy it again. Besides, they will recommend to other people about Kinh Do’s product and so, Kinh Do will have more and more customers. That is the benefit when Kinh Do wants to launch Magnum ice cream. With the huge amount of loyalty customers and retening customers, Kinh Do can easily introduce new product to the market because the loyalty customers and retention customers willing welcoming and buying any product of Kinh Do, as long as it still satisfies their demand. The second benefit is that decreasing the price sensitive. This is very important when Kinh Do wants to sell magnum in Vietnam, because Magnum ice cream is premium product, so it has higher price compare with the domestic ice cream. However, with customer loyalty and customer retention, they will not care about the price of product. If it is suitable with their payment ability, they will buy and support for this product. Last but not least, Kinh Do also can receive the long-term profit from market philosophy. When Kinh Do can satisfy the customers and keep their loyalty, Kinh Do will gain a huge market share and so, create the stable consumption network for its product. After getting profit from customers satisfaction, Kinh Do can also use the profit to invest for new technology or new plan to expand the business and create the competitive advantage with its competitors. Launching Magnum ice cream is one of the important strategies of Kinh Do to get the market share in premium ice cream market. Finally, we can see the different between Kinh Do and Vinamilk- the two biggest food, drink and beverage companies in Vietnam. Vinamilk applies the societal orientation. It advertises its product through some charity programs such as dairy budget for children in Vietnam. The market share of Ki Do – the ice cream brand name of Kinh do- is about 45,8%, equal double the market share of Vinamilk (about 20,8%). It can be seen that market orientation creates more benefit and stronger competitive advantage than other orientation. III. Effect of buyer behavior IV. Positioning:

Literature Review of Celebrity Endorsement Essays

Literature Review of Celebrity Endorsement Essays Literature Review of Celebrity Endorsement Essay Literature Review of Celebrity Endorsement Essay Running head: A LITERARY REVIEW OF CELEBRITY ENDORSEMENT Celebrity Endorsement in Mass Media Advertising Brands Celebrity endorsement in mass media advertising has become a very beneficial phenomenon for many countries and has significantly increased in the past decade, and should be the main principle of brand communications since it is the key to marketing success. Any product that is displayed in a television commercial or magazine advertisement by a corporation that uses a celebrity or well known public figure to give a testimonial or information about the product, is practicing celebrity endorsement. Although commonly thought of starting in the United States, celebrity endorsement began in India during the ‘80s but has since been adopted by countries in Asia, Europe, and almost worldwide. Modern mass media (especially that of tabloids) has increased exposure of celebrities to the point that it is unavoidable to not be exposed to a celebrity face. The primary principle that celebrity endorsement works off of is the public recognition of the celebrity endorser as an admirable or desirable cultural force. It is not uncommon to view commercials from the past 10 years and see popular icons like Britney Spears endorsing a particular soft drink like Pepsi or Michael Jordan endorsing Nike as the number one brand for anyone that has even the slightest liking to sports. These celebrities among many others, are used to promote products, services, and ideas (Kambitsis et al. , 2002). A reason for the increase in the usage of celebrity endorsing on various levels of mass media is almost exclusively due to the fact that this strategy results in more positive advertisement and product ratings (Dean and Biswas, 2001), as well as A LITERARY REVIEW OF CELEBRITY ENDORSEMENT an increase in the purchasing of the product and in turn, increased finances for the producer (Erdogan, 2001). Most celebrity endorsers come from the entertainment and sports industries. Nevertheless, more than likely, the celebrity endorser is not known to the public for the product that they are endorsing (Friedman, 1979), therefore they are not experts of that product. As mentioned previously for example, Britney Spears has endorsed Pepsi. She s an iconic pop singer and even though she wrote a song called â€Å"Joy of Pepsi,† she is not an expert on what the best tasting soft drink is; her fame has no relation to what she is endorsing. Besides those obvious facts, Pepsi’s sales increased four times as fast as their competitor (DeNitto, 1994). Although celebrity endorsing is very expensive for the companies, in the long run it has often helped their sales because they are recognized by the public and viewed as more powerful t han an anonymous face of a model (Carroll, 2008). Celebrities are also interested in endorsing themselves in the product as their image considerably develops rather quickly along with the product. According to Speck (1988), endorsements involve three participants; sellers, endorsers, and target consumers. This is because the seller asks an endorser to use and evaluate a product, and then after trying a product, the endorser encourages the target consumers and personal fans to also purchase and try out the product. Advertising campaigns using celebrities to support brand strategy have in general tended to be repetitive, high-profile and loud extravaganzas in which the celebrity features prominently and directly, unlike the product itself, which seems more like an addition to the whole scheme of the advertisement (Carroll, 2009). Celebrity endorsement is a powerful marketing strategy compared to the A LITERARY REVIEW OF CELEBRITY ENDORSEMENT likes of public relations and sales promotion but has been the most long-standing beneficial strategy out of all (Hsu and McDonald, 2002). Choosing the Celebrity Endorser Giving a brand a recognizable ‘face’ is often more than just a marketing strategy, but for better or worse can change a brand forever. Thus, choosing a celebrity endorser is of maximum importance and therefore done on a whole slew of parameters that include appeal, looks, popularity, product type, message type, etc. (Erdogan, 1999). The general belief among advertisers is that brand communication messages that are delivered by these selectively chosen celebrity endorsers, produce a higher appeal and recall than those advertisements that are not celebrity endorsed. Furthermore, when celebrities are recognized with brand names, it creates a positive attitude, as well as a distinct personality for the brand. For example, Forbes reported that Chanel, an extremely well known Parisian fashion house, acquired an endorsement deal with spokes icon Nicole Kidman, which in turn increased business by about 16%, without administering any changes whatsoever in fragrance or packaging, because â€Å"all of a sudden, younger women took notice of the brand (Forbes). † Credibility is also an obvious large part in determining who to use in endorsements for a specific product. Previous research has shown that celebrities that endorse several products at a time are seen as less credible to the typical consumer (Hsu and McDonald, 2002), rather than a celebrity who just endorses a single product. The reason for this insight is because a celebrity who endorses multiple products can seem as if they do not have a real liking or interest in a particular product and will just peddle any product that is asked of them. Another event that could A LITERARY REVIEW OF CELEBRITY ENDORSEMENT iscredit a celebrity endorsement is negative press or events that are associated with the celebrity’s name. This very problem occurred in 2005 with supermodel Kate Moss. She was dropped from her endorsements from large companies Burberry, HM, and Chanel, when photographs of her snorting cocaine surfaced in magazines and websites. Companies using a celebrity endorser take into account the serious consequences (loss of revenue, bad image) of putting a tainted face to their produc t since as stated above, the brand’s whole personality is often dependent on the celebrity endorser. Another aspect that is taken into account pertaining to the effectiveness of the celebrity endorser is to directly measure the degree that the consumers evaluate the celebrity as genuinely liking the product that they are endorsing. According to Gilbert and Malone (1995), these evaluations are recognizable under a type of judgment called â€Å"correspondent inferences. † Correspondent inferences generally refer to a judgment that consumers observe the endorser’s behavior in the advertisement to then infer consistent character in the endorser. For example, the consumer would observe an athlete saying he loves the breakfast cereal Wheaties, and then the consumer would infer that the athlete really does, in fact, like Wheaties. Adding to this study, McCracken (1986) suggests that a celebrity that best represents the appropriate symbolic properties â€Å"of the product should be selected, thus, highlighting the importance of the cultural meanings of celebrities in the endorsement process. † Culturally speaking, Americans identify themselves more closely with celebrities and are more willing to accept and unconsciously accept endorsement messages. Brands are therefore seen as playing a fundamental, as well as A LITERARY REVIEW OF CELEBRITY ENDORSEMENT complex role in the construction of the self (Carroll, 2009). We achieve self-consistency via brand consumption, purchasing brands that we perceive to be similar to our selfconcept. Defined as image congruence hypothesis, this suggests that brands perform a function of self-enhancement whereby consumers form perceptions about brands and compare these to their own value system, selecting brands that match the closest. All in all, the public’s fascination with the celebrities will continue on because of their role in society as an entertainer and in return, the use of celebrities in advertising will continue to increase (Pringle, 2004). Grant McCracken has proposed the Meaning Transfer Theory when referring to celebrity endorsement and its effectiveness. His theory states that a celebrity encodes a unique set of meanings that can be transferred to the endorsed product if used in the correct way. This theory takes place in three stages- encoding meanings, meaning transfer, and meaning capture. McCracken’s theory is described as first, encoding meanings: this is basically the age, gender, race, and wealth or personal lifestyle that a celebrity can be identified with by the public. For example, a celebrity can be seen as cute, witty, and charming due to any of those factors, since each person viewing these celebrities will make their own meanings about them (McCracken, 1986). The next stage that occurs is meaning transfer. This second stage transfers those meanings to a product and when those meanings are skillfully portrayed, celebrities are able to communicate the image more powerfully as endorsers. The final stage is meaning capture, which assumes A LITERARY REVIEW OF CELEBRITY ENDORSEMENT that consumers purchase products not just for their practical value, but for their cultural and symbolic value that they can convey from the product. Agreeing with McCracken, Carroll also adds to this statement by reporting that the consumers now turn to brands of products less as bundles of utility and more so as â€Å"badges that contain social meaning† (Carrol, 2009). Simply put, it is the stage that the consumers hope to capture some part of the meaning from the first stage (cute, witty, etc. , which the celebrity endorser has seemed to have passed on to the product. This is especially true in celebrity promoted lifestyle products like perfumes, clothes, and consumer technology (McCracken, 1986). Because celebrity endorsements tie into people’s personal and cultural meanings, it seems that they will always infinitely be effective and have proven to be a sustainable marketing technique. Based on the previous research, this study will move forward and add to the literature by asking the following questions: RQ 1: Will all correspondent inferences be positively associated with the attitudes toward the advertised product? RQ 2: Will observers (consumers) still believe that the celebrity endorser likes the product more than the average user, even though they know the endorser is getting a large payment? References Dean, D. H. and Biswas, A. (2001). Third-party organization endorsement of products: an advertising cue affecting consumer pre purchase evaluation of goods and services. Journal of Advertising. 30 (4). Carroll, Angela. (2009). Brand communications in fashion categories using celebrity endorsement. Journal of Brand Management. 17 (2). 146-158. doi: 10. 1057/bm. 2008. 42 DeNitto, E. (1994). Pepsi, Coke think international for future growth. Advertising Age. p. 44. Erdogan, B. Z. (1999). Celebrity endorsement. Journal of Marketing Management. 11 (1). Erdogan, B. Z. (2001). Selecting celebrity endorsers: the practitioner’s perspective. Journal of Advertising Research. 41. p. 39. Friedman, H. H. (1979). Endorser effectiveness by product type. Journal of Advertising Research. 19 (5). Hsu, C. K. and McDonald, D. (2002). An examination on multiple celebrity endorsement in advertising. Journal of Product and Brand Management. 11 (1). pp. 19-29. Kambitsis, C. , Harahousou, Y. Thedorakis, C. 2002). Sports advertising in print media: case of 200 Olympic games. Corporate Communication: An International Journal. 7 (3). McCracken, G. (1986). Culture and consumption: a theoretical account of the structure and movement of the cultural meaning of consumer goods. The Journal of Consumer Research. 13 (1). Onkvisit, S. and Shaw, J. (1987). Self-concept and image congruence: Some research and managerial implications. Journal of Consumer Marketing. 4(1). 13-23. Pringle, H. (2004). Celebrity sells. John Wiley and Sons Ltd. England. Ruiz, N. (2008). Can a star sell you style?. Forbes. com LLC.

Mussolini knew that he could never influence those with education and culture, so his propaganda was solely aimed at the ignorant masses Essays

Mussolini knew that he could never influence those with education and culture, so his propaganda was solely aimed at the ignorant masses Essays Mussolini knew that he could never influence those with education and culture, so his propaganda was solely aimed at the ignorant masses Essay Mussolini knew that he could never influence those with education and culture, so his propaganda was solely aimed at the ignorant masses Essay How far do you agree with this assessment of Fascist propaganda? (1924-1936)It is true to say that much of the fascist propaganda implemented during Mussolinis dictatorship was created for the ignorant masses. However, the propaganda cannot be described as being solely aimed at typical Italians as other forms were used to reach the high cultured and educated members of the public.The use of the term ignorant masses has a specific context within this assessment. As the text describes what Mussolini knew and how he acted, we can understand the words to be thought of as Mussolinis interpretation of the general public. He was known to describe them as stupid, dirty, do not work hard enough and are content with their little cinema show (Robson), thus beneath him. Mussolini knew that they were the easier option and more susceptible to propaganda, he was aware of the educated and cultured posing a difficult task and almost a threat. His appeasement with this higher cultured group determines the level of propaganda taken upon the ignorant masses. However there were still forms of propaganda that did contact the high cultured and educated, whether intentional or not, and some attempts to reach those slightly less educated and cultured than the intellectuals.Fascist propaganda had many forms and ways to affect people. As Robson comments one must strike the imagination of the public: that is the real secret of how to govern Thats what Mussolini felt Visually high impact and vocally arousing propaganda was the most useful to the Fascists as at least 17% of Italy was completely illiterate throughout 1924-1936. This propaganda could affect the emotive aspect of human nature rather than the intellectual features. The mass media such as posters and radio were a way to impose propaganda upon the completely uneducated. Words are not necessary to crate an immediate and strong impact where the use of colour and image are. The poster for the Olympic Games displaying a javelin thro wer in line with an Italian soldier launching a grenade links Italian prowess in sport with war (Hite). It encourages the fascist ideas of aggressive foreign policy and creates an image of the viewer himself also being capable of doing something great for his country, out on the battlefield instead of the sports field. Posters would contact all groups of people from housewives doing their daily groceries to southern peasant farmers. This particular tactic emphasises the intended audience as an educated and cultured person would be able to see the hidden message. It may also not be interesting enough to attract their attention in the first place as a poster cannot replace literature, art and other cultured interests. This Fascist propaganda was aiming at the most uneducated through the lack of text and use of image.In 1924 radio became state run and content controlled. Their stern, martial tone had as much of an impact as their content of music and ever increasing official broadcasts such as Mussolinis major speeches. Few people had radios although their numbers increased from 40 000 in 1927 to 1 million in 1938. This was renovated by the use of loud speakers in the piazzas and radios in village halls. Although disregarded by Mussolini at first, the radio became a favoured tool in reaching the ignorant masses whether at work, home or even school. Cinema also became a more popular device. Although it was lightly censored, a government agency LUCE was created to produce cinegiornali which were created to standardise cinema outings and indoctrinate viewers with images of a happy and successful Italy. Again the cinema was accessible to many as it was affordable e.g. working class, youth and so was often used for propaganda.Through mass activities such as parades and rallies, Fascism was able to gain support by representing itself through the spectacles themselves, and as Robson observes, striking the imagination. Mussolini obtained details from Stalin of Soviet May Day parades which he imitated, and by creating a bold and exciting atmosphere and strengthening this though large scale, people were enthralled by the new things set before them. At the same time Fascism could transfer values of discipline and collective identity upon observers. Many types of people would be affected by the spectaculars, by being in the presence of them or hearing the roaring crowds and charismatic Piazza Politics on the radio. In the South, radios would be stationed at village halls for the farmers and peasants to hear. This supports the idea that Fascist propaganda was aimed at the ignorant masses (the general public) as it reached out to many. It subtly imposed these ideas by striking patriotic feeling, implying the idea of restoring Italy to a powerful exciting nation.Sport, another mass activity, promoted national pride and the physical and emotional struggle for war. Again it brought about a sense of collective identity, social solidarity and discipline via e xcellent access, opportunity and provision. Many new stadiums were built and successful national teams were seen as a way to increase national pride and therefore support for the regime. E.g. Carnera became the heavyweight boxing champion from 1933-1935. Anyone could take part at low cost, however sport may have reached out to the higher educated and cultured as some may have had interests in sport before Fascists propaganderised it.In terms of culture, the Fascists simplified high cultural aspects such as art to incorporate it into every day life for the masses. Its use was to hark back to ancient Rome, which in itself was a powerful symbol of greatness and success. Art had greater provision such as through architecture so that it had a strong impact throughout day to day life. However impressive it may have been in the large towns and cities, the peasant southern towns saw little of this, only on posters which had a lesser impact. The expense was therefore questionable considering the overall impact. Other failure stems from cultural diversity in Italy. One Fascist style could not be decided upon, and to do this would appear far too obvious as indoctrination and control. Particularly with more educated classes, e.g. teachers- Mussolini classed as the ignorant masses, who may have seen through it and would retract their support. All other aspects of Fascist propaganda were tried to be subtle and so art was a tough area to settle on.Defining those with education and high culture needs to be in context of Mussolinis character. His view of those with culture and education will be in league with himself, the messiah or comparatively close in relation to the ignorant masses. With Mussolini as an arrogant and condescending leader, it is drastic for him to know that he could absolutely never influence those who are educated and cultured; therefore he regards them as an impossible task and possibly of concern. This is why he practically appeased this group of people so as not to loose support, disregarding the thought of ever gaining it from them, particularly through propaganda.Mussolini thought that the educated and cultured were unreachable through propaganda, but there were still attempts made to influence them through the likes of literature, music and drama. However it was considered less important as it would not gain as much support as easily as with the ignorant masses. For example Mussolini spoke of a theatre for twenty thousand, hoping to extend this art form to the masses. However it never happened as this area was such a low priority.Mussolinis appeasement of the cultured and educated arose from their presumed interest groups such as literature, art and the newspapers. As pre-mentioned, Mussolini could not heavily indoctrinate Italy as with Nazi Germany as he needed to keep elitists and the King on side. The Pope and religion was also too heavily influential in Italy to completely indoctrinate the nation, he would loose too much su pport. He kept the cultured groups support by not forcing anything on them and not taking anything away. In this way he kept their support instead of trying to gain more of it. A good example of this is within the media, particularly newspapers. The newspapers began to be censored in 1923 by Prefects and by 1926 the last opposition paper suppressed.However, although the only press agency was run by a fascist, the propaganda was extremely subtle. So much so, that some papers that remained were allowed to continue in growth such as the Vaticans paper which increased in circulation from 20 000 to 250 000 in the late 1930s. Some foreign papers were also allowed in Italy. The same system applied to the radio, where the cultured and educated were allowed access to alternative radio stations such as the Vatican broadcasts, the BBC and the Rosselli broadcast from Spain. This was all the more appealing as some luxuries were able to stay. Mussolini was not forcing the educated to read the pos ters and go to the cinema, he appeased them instead.Mussolini thought he could never influence those with education and culture and solely aimed specific forms of propaganda at the general public, he possibly did reach the cultured with it. He thought they were too clever to be influenced by propaganda aimed at who he thinks are the stupid masses (Robson) which actually reflects how he positions himself within society. He ranks himself at the top, intelligent, yet he has mistaken the cultured for having an emotive level that involves patriotism and pride. Through their failure during WW1, many Italians (irrelevant of education) will have felt shame and have hope of a rebirth of a greater Italy. Propaganda such as parades and national sporting events may have had an impact outside the ignorant masses, questioning the idea of never being able to reach the educated and cultured. It is questionable whether they realised they were possibly reaching this higher group, but as the assessmen t states that Mussolini KNEW that he could NEVER influence the probability is that they really knew they couldnt reach anyone cultured and educated at all by any means and that any success was by chance.In conclusion, I agree with this assessment of fascist propaganda to the extent that the majority of the propaganda was aimed at the general public or ignorant masses. However there were sub-classes which the propaganda did reach and exceptions to the statement of never influencing those with education, and solely aiming it at the masses. Educated and cultured members of the public may have had interests in modern day architecture, ancient Rome or sport that drew them to appreciate the Fascists regime and give it more support. It seems likely that propaganda played a major role in sustaining Mussolinis regime and making him an extremely popular leader. This in itself supports the idea that he had a majority of support of the masses, which was influenced by successful and subtle propa ganda.

Climate change Essay Example | Topics and Well Written Essays - 500 words - 1

Climate change - Essay Example London and New Orleans already have storm surge defense mechanisms in place as a national requirement. Displacement of communities and reduction in landmass will have dire consequences on the world’s resources. Coastal erosion, flooding, water quality, loss of life and cultural resources and values are all expected to be implicated as a result of this effect of climate change. . The Maldives are currently under pressure. President Nasheed of the Maldives islands stated recently that the nation state was looking for new land to purchase due to the effects of rising sea levels. The nation has the lowest land mass above sea level and it is estimated that unless climate change is controlled the nation will be under water by the end of this century. (OCarroll, 2008) New York metropolitan area is a coastal community so dramatic raises in sea levels will bare negative consequences. The GE community in Hungary has developed an animation to show the effects of sea level rises and shows a time line on the continuation of rises and the submerging of the area. The animation is available from http://www.gearthblog.com/blog/archives/2007/04/animation_roundup_ri.html OCarroll E (2008) Faced with rising sea levels, the Maldives seek new homeland Online Journal The Christian Scientist available from http://features.csmonitor.com/environment/2008/11/11/faced-with-rising-sea-levels-the-maldives-seek-new-homeland/ accessed 9th December

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Solution Outline - Assignment Example Unfortunately, Emergency mangers have always grappled with communication challenges occasioned by jammed telecommunication lines or/and destroyed infrastructure. On the occurrence of Hurricane Katrina, for instance, many wireless base stations were grounded and a number of communication cables were damaged (Coombs & Holladay, 2012). This resulted in a slower response, difficulty coordination, and, therefore, more damage to infrastructure and loss of life. Secondary data has been the main source of information relating to the communication challenge facing emergency management. Some of these data sources include interviews with disaster managers, and which have been recorded in print media, peer reviewed articles, newspapers, and reports submitted to relevant government bodies. The two major sources are the â€Å"The handbook of crisis communication† by Coombs & Holladay (2012) and information from GAO website (Major Management Challenges and Program Risks) retrieved from: http://www.gao.gov/products/GAO-03-113 For instance, following hurricane Katrina and its devastating impacts, it became apparent that the loss was not only huge, but also extreme due to the challenges faced by emergency agencies. As expected, the government needed a report from FEMA to explain the state of emergency management as well as present their findings regarding the heavy loss that was experienced following hurricane Katrina. In the report, it was apparent that the multi-agency operation lacked proper coordination because of the communication challenge occasioned by destruction of telecommunication network. Further on, the decision by government to cut down on its budgetary allocation to emergency management and the concomitant impacts have widely been tackled in peer reviewed articles, print media, as well as online news website. Stakeholders in emergency management include local, state, and federal

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HEALTHY PEOPLE - Essay Example Their subpopulations are culturally distinctive, diverse, and complex; live on nearly 300 locations in the lower 48 states, speaking more than 300 different languages (National Archives 2011). Top issue or problem: Alcohol takes a substantial toll among American Indians. They have a higher rate of alcohol-related death than the general U.S. population (May 1989). In every 100000 population covering both genders of American Indians in the age group of 25-34 years, 62.5 die from accident, 13.7 from homicide, 7.2 from heart disease and 6.4 from liver diseases (Healthy People 2011). A general observation is that alcohol abuse plays a significant role in these problems as it is a major factor in five of the 10 leading causes of mortality for American Indians (IHS, 1992). It is further corroborate by the fact that American Indian men die 2.8 times more frequently than non-Indian men from motor vehicle crashes, 2.7 times more from other accidents, 2.0 times more from suicide, 1.9 times more from homicide, and 6.8 times more frequently from alcoholism (alcohol dependence syndrome, alcoholic psychosis, and chronic liver disease and alcoholic cirrhosis) (May, 1996). For 19, 86 ­1,988, motor vehicle crashes, other accidents, suicide, homicide, and alcoholism caused a total of 5,781 American Indian deaths. 3,656 of these deaths are estimated to have involved alcohol (May 1989).There is the common view that Leland (1976) described in her book  Firewater Myths, that American Indians have an excessive craving for alcohol and to lose control of their behavior when they drink. Interventions that address the social and physical factors that influence alcohol abuse have the potential to prevent unintentional injuries and violence. Although, public health interventions are quite different in scope and application, however, most interventions share a similar path to succes

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H.W 12 GSC125-01 - Essay Example More intense cells (tropical squall clusters) can form that are similar to middle latitude squall lines. In contrast to middle latitudes, there is very little horizontal pressure gradient. 3. Describe the typical weather in the eye of a hurricane. Answer: The eye is at the center of a hurricane and is an area of almost cloudless skies, subsiding air and light winds. The eye generally ranges from 10 to 65 km across, shrinking in diameter as the hurricane intensifies and winds strengthen. Passage of the hurricane eye is followed by heavy rains and ferocious winds blowing from the opposite direction. 4. What three conditions are required for a tropical cyclone to form? Answer: A relatively high sea-surface temperatures, adequate Coriolis Effect, and weak winds aloft are the three necessary conditions for a tropical cyclone to form. 5. Why does a hurricane weaken when the system tracks from ocean to land? Answer: A hurricane over land is no longer in contact with its energy source, i.e. warm ocean water. Additionally, the frictional resistance offered by the rougher land surface slows the wind and shifts the wind in direction toward the low-pressure center of the system causing the storm to fill and weaken. The system may still produce tornadoes after making landfall, partially due to strong wind shear between the surface and aloft. Chapter 12, Critical Thinking Questions 7.

HEALTHY PEOPLE Essay Example | Topics and Well Written Essays - 3000 words

HEALTHY PEOPLE - Essay Example Their subpopulations are culturally distinctive, diverse, and complex; live on nearly 300 locations in the lower 48 states, speaking more than 300 different languages (National Archives 2011). Top issue or problem: Alcohol takes a substantial toll among American Indians. They have a higher rate of alcohol-related death than the general U.S. population (May 1989). In every 100000 population covering both genders of American Indians in the age group of 25-34 years, 62.5 die from accident, 13.7 from homicide, 7.2 from heart disease and 6.4 from liver diseases (Healthy People 2011). A general observation is that alcohol abuse plays a significant role in these problems as it is a major factor in five of the 10 leading causes of mortality for American Indians (IHS, 1992). It is further corroborate by the fact that American Indian men die 2.8 times more frequently than non-Indian men from motor vehicle crashes, 2.7 times more from other accidents, 2.0 times more from suicide, 1.9 times more from homicide, and 6.8 times more frequently from alcoholism (alcohol dependence syndrome, alcoholic psychosis, and chronic liver disease and alcoholic cirrhosis) (May, 1996). For 19, 86 ­1,988, motor vehicle crashes, other accidents, suicide, homicide, and alcoholism caused a total of 5,781 American Indian deaths. 3,656 of these deaths are estimated to have involved alcohol (May 1989).There is the common view that Leland (1976) described in her book  Firewater Myths, that American Indians have an excessive craving for alcohol and to lose control of their behavior when they drink. Interventions that address the social and physical factors that influence alcohol abuse have the potential to prevent unintentional injuries and violence. Although, public health interventions are quite different in scope and application, however, most interventions share a similar path to succes

H.W 12 GSC125-01 Essay Example | Topics and Well Written Essays - 250 words

H.W 12 GSC125-01 - Essay Example More intense cells (tropical squall clusters) can form that are similar to middle latitude squall lines. In contrast to middle latitudes, there is very little horizontal pressure gradient. 3. Describe the typical weather in the eye of a hurricane. Answer: The eye is at the center of a hurricane and is an area of almost cloudless skies, subsiding air and light winds. The eye generally ranges from 10 to 65 km across, shrinking in diameter as the hurricane intensifies and winds strengthen. Passage of the hurricane eye is followed by heavy rains and ferocious winds blowing from the opposite direction. 4. What three conditions are required for a tropical cyclone to form? Answer: A relatively high sea-surface temperatures, adequate Coriolis Effect, and weak winds aloft are the three necessary conditions for a tropical cyclone to form. 5. Why does a hurricane weaken when the system tracks from ocean to land? Answer: A hurricane over land is no longer in contact with its energy source, i.e. warm ocean water. Additionally, the frictional resistance offered by the rougher land surface slows the wind and shifts the wind in direction toward the low-pressure center of the system causing the storm to fill and weaken. The system may still produce tornadoes after making landfall, partially due to strong wind shear between the surface and aloft. Chapter 12, Critical Thinking Questions 7.

The Letter of Paul to Romans Essay Example for Free

The Letter of Paul to Romans Essay Romans is the longest and most theologically significant of the letters of Paul. It can be described as a tractate letter, one that is composed of a theological argument or series of arguments. A letter essay as it may be, it was received by the people of the church at Rome who were mostly Gentiles. Paul, as the author of the letter to Romans, must have written the letter in Corinth. This is most likely on the near end of his third missionary journey. While there is no certainty of the date in which the letter was written, A. D. 57 is the best alternative. Preparing his way for his planned mission to Spain, Paul might have written his letter for the particular reason of asking for support from them. Yet he also presented his matured views on the issue between the Jews and Gentiles and the law and gospel. In addition, he set forth a teaching on a basic system of salvation that Rome had not received from an apostle ever since. In his letter, Paul explained why it is necessary for God to manifest His righteousness and that humankind can experience this righteousness only by faith. All have sinned and cannot be brought into a relationship with God by mere good works. God alone can change this by the sacrifice of Jesus Christ. Through Him, we can be justified before God and this justification can be gained only by faith. Justification means being blameless to God and this can be achieved by having faith in Jesus Christ. Through Christ, we can be freed from the bondage of sin and hence, sin can no longer dictate our actions, decisions, and our very lives. This is the power of God for salvation shown through the gospel to us. Paul, as well, emphasized that even though God had made a covenant to the Jews, being born as a Jew does not mean that they are automatically saved. It is their shortcomings to accept God’s righteousness that is to be blamed. Also, Gentile Christians (including us since we are not Jews) are not to boast and be arrogant on this matter for it is from Israel that salvation has come. Thus, we are ought to respect each other and humble ourselves down. The Christian is to serve God, as stimulated by His grace, by putting on the armor of light. This means that we must leave behind the deeds of the darkness and that we shall not grant the desires of our sinful nature. We are also ought to love others as ourselves no matter how unlovable they are for Jesus Christ died for them as well. Though free from the law, we still have to submit to the government because God has delegated His authority to them too. In this modern era, many circumstances might hinder us from doing good works. Yes! It is through faith that we are saved but faith without works is dead. Therefore, our lives must reflect on whom we put our faith in. Whatever this contemporary world throw at us, we must stand firm in our faith and even in our actions. Furthermore, do not let good works do the saving rather, mix it with faith and allow God to do the work of salvation. As the saying goes, walk by faith and not by sight.

Performance Management And Improvement In Larsen And Toubro Management Essay

Performance Management And Improvement In Larsen And Toubro Management Essay Introduction The purpose of this assessment is that to identify and analyze the Human Resource policies adopted in the companies and determine whether these policies are appropriate or not based on the current market trends. The investors will be interested in certain way how the company os performing , for this the HR policies adopted by the company plays an important role. Selection and recruitment Flexible Work arrangements Performance management and improvement. Grievances I have taken into consideration the various Hr policies that I plays an important role in the companies not only the one that I will be discussing in this assignment but to other companies as well Here I have focused on the HR polices of a MNC company which is into various sectors of business , here The attention would be on the IT sector of that company. Larsen Toubro Limited (LT) Background Information. Larsen Toubro Limited (LT) is a company which is ito various sectors such as in manufacturing, engineering and also in IT . It is Multinational company , which has a branch in London UK its IT sector. This company on the overall has a strong customer focused approach and c class quality in all major lines of its industry. Larsen Toubro Limited (LT) has offices and branch which is globally spread .The company has around 11590 employees. LT Infotech focuses on Information technology and software services Business Model Larsen Toubro Limited (LT) offers three different business models or strategies that the clients can switch between them. Here each model benefits are unique , the clients can choose the best model at any point of time , to suit its business plans. Onsite Services In this model , the LT engineers are sent to the clients team at the clients location . here in this the client representative or the project manager of LT manages the project in the clients location .This model is suitable for onsite consulting with the clients customers for clients platforms and products. Offshore services Under this model the LT engineers develops the products required by the client on a need basics. A client representative would be doing the project co-ordination on the clients side. GLOBAL PERSENCE LT has its offices located globally.The company is into international business and the revenues has been growing steadily due to overseases business. The company has manufacturing facilities in India, China, Oman and Saudi Arabia. It has a global supply network with offices in 10 locations worldwide, including Houston, London, Milan, Shanghai, Seoul. Clients Its clients include industry leaders like Marsh McLennan, Standard Life, Travelers, Chevron, Freescale, Hitachi, Sanyo , Lafarge , ABSA , CitiGroup, Barclays , eCORPUS, Marathon and Qualcomm among others. Competitors BHEL Suzlon Energy BEML BGR AIA Engineering Alfa Laval1, Praj Industries Shriram Future Plans A blueprint for the next phase of growth till 2015, named Vision 2015, at Larsen and Toubro Ltd is being drafted and will be ready by March 2010. The company is planning to focus on segments traditionally dominated by foreign defence equipment makers and state-owned companies., . The company also hopes that the nuclear program will be in place once the new government assumes power. By signing pacts with three companies in the nuclear energy space, LT has hedged its risks as a nuclear equipment maker. It has put in place a nuclear equipment forging shop in Hazira in Gujarat at an investment of Rs1, 500 crore. This is in addition to a defence shipbuilding yard near Chennai at a cost of Rs1, 500 crore. As per plan, the company will create three operating companies to look after defence, aerospace and nuclear power sectors for effective operations. HUMAN RESOURCE INTRODUCTION The company considers people as the most important asset . they have teams with a diverse profile that include people from various backgrounds such as technologist and architects .The company choose people that are motivated in them self and have a strong sense of commitments with their clients. The people of these company have a nark in which they can tackle clienst and going for an extra mile for appreciations The company is maintaining a strong value driven professional work environment where every employee feels respected and fulfilled. The company follows a competency development approach which would allow them to maintain the talent the company has made. Selection and recruitment Larsen Toubro InfoTech always employees the candidates based on the merit and competence. The company also look for certain other qualities as well in an individual such as analytical ability Communication and innovation skill in practical problem solving. The Larsen Toubro InfoTech gives a very high importance for the candidates academic excellence. Why careful selection is required by LT InfoTech? The company is highly recognised and the quality standards are very high, in this company performance is important because having the employee with the right skill and right knowledge will be good as the firm will not suffer in the long run. Cost is another important factor because it will cost the employer a to recruit and hire people.. Larsen Toubro Infotech follows a competency-based recruitment philosophy, wherein Competence based job analysis basically means writing job description based on competencies rather than job duties. Thus kind will emphasis what the employees must be capable of doing rather than having a list of duties he or she must perform. Normal this competence based job descriptions describes job in terms of measureable, observable, behavioral aspects. This type of HRM policy would play participant roles while still allowing for evolution. All processes are geared to achieve our objective of attracting and selecting the best and brightest talent, while ensuring a best fit of the profiles. Typically the company recruits 75% of the candidates through various campuses and 25% of them through web based recruitment. Since web based recruitment is very common in UK and worldwide in advanced countries. Lots of companies pull information from web based sites. Larsen Toubro InfoTech offer of employment is a combination of multiple factors. It includes the value of the Larsen Toubro InfoTech brand, the opportunity to work with the best in class people who have graduated from top universities, an opportunity to work in multiple environments, and has world-class software development centres Objectives Recruitment procedure includes a simple description for job covering such as key activities, tasks, skills required, expectations, deliverables and safety considerations. When advertising, avoid discriminatory language e.g. young person. Recruitment process may include an application form, interviews , practical testing ,references checks , right to work in UK. Give the successful candidate a letter of appointment setting out clear terms and conditions. This includes the nature of employment e.g. permanent part time, casual. The letter should include a Larsen Toubro InfoTech come note and start details. Once the candidate has accepted, contact the unsuccessful candidates as a matter of courtesy Critical analysis Recruiting good candidates is every companys job. Human resource manager usually take the lead and coordinates the required activities , but every employee, every manager and every supervisor of the company has a role and share in the benefits of recruiting best applicants for the required position in the company. While I understand any company requires good applicants and candidates , In an interview we usual come across HR managers and several other employees of the company in the interview room , I usually find that employer usually throw questions at the candidate primarily aimed at tripping the candidate off rather that finding out what they could offer through their skills. Usually I have noticed that the HR manager of any company usually ask their own favorite questions. But the strategy applied by this company seems to be the best and most competitive in almost every aspects. This strategy applied by the company I understand that the HR team Knows the job requirements Know what skill is required fot that job They know what they are looking for in the candidate They know how to structure an interview By the application of the above strategy of this company(competency-based recruitment philosophy) Manager can quickly find out who would be best for the job. The can find out important thing from the candidate such as Knowledge and experience Overall motivation to succeed Poise and confidence Communication Intellectual capacity Personality Factor Goals ambition From this I understand that this competency-based recruitment has a interview plan about which we can draw the candidates general strength amd limitation . This competency-based recruitment finds the employees who will be technically be competent and fit the company culture. Recommendations High performance work system: This kind of recruitment and selection application would help the employees to work in a self motivated way. The team member would have better communication effiency as because the all have the same sets of knowledge. More strategic: This would help the organization to have a better ways of recruiting people by describing their job in a more measurable , observable behavioral competencies an employee must exhibit to do a job well. Performance management: Basing the employees training, appraisal and rewards on fostering rewarding the skills and competencies he or she needs to achieve his or her goals. Flexible Work arrangements Larsen Toubro Limited (LT) expects its employees to maintain a high standard of conduct and work performance to make sure the business maintains its good reputation with customers and clients. Good personal conduct contributes to a good work environment for all. Based on the responsibilities carer and private life the employees, the employees will require flexible work arrangement from their employer. The employees are given the freedom to send in their request based on their requirements. But the company will also have to look into the employments opportunity act , Larsen Toubro Limited (LT) Will look in to the request based facts and circumstances , later decide whether to accept or reject the request of the employee. Objectives The employees s environment of the work in the company and their responsibilities The Kind of situation the employee would be in if he does not fulfil the family or carer responsibilities The Financial strength of the employer The Kind of business the employer is in and the circumstance of work environment The impact on business if the employer has this flexible work arrangements The impact on business if the employer does not have this flexible work arrangements Apart from these objectives under the National Employment Standards , only a certain set of employees will have the right for this flexible work arrangements such as if the employees has served the organisation for 12 months ,secondly if they have a child who is under the school age, thirdly if and only if they also have c child who is under 18 and physically challenged. Employees must put such a request in writing. Which would involve an application form? Larsen Toubro Limited (LT) will response to their queries in a matter of 21 days in writing if the leave is granted or not . Larsen Toubro Limited (LT) will also provided in writing as why it was refused based on their business norms . Here in this company this flexible work arrangement will not be a hurdle at the times of promotion or responsibilities.. The company will treat all the employees equal including those who have these advantage of flexibility. Critical analysis: What I evaluate from this is that flexible work schedules have positive effects on employee producitiy , job satisfaction This has become quit popular in the last few years trying to reduce staff cost without having to make redundancies during recession. It can also help provide staff cover outside normal working hours and reduce the need for overtime. This kind of work flexibility will have the following benefits such as They will be a reduction in absenteeism which are unplanned ,lateness and slo stress This will improve the staff availability and travel shift work. The employees commitment would increase so this would increase the efficieny of the organization. Give suitable work hours which would be beneficial for the employer as well. The employee can work while kids are at school The employee can do more part-time work e.g. 2 days and 3days Longer hours less days There is a dramatic change in many of the organization in the recent years when they have introduce this flexible work arrangements, but this has improved the overall productivity , commitment and output of the employees. This provides the employees relaxation in terms of task duties and responsibities and also provided the employees with a opportunity to work away from campus. I analysis that Flexible working opportunities can benefit everyone employers, employees and their families. Most employers now recognize that it makes good business sense to provide flexible working opportunities for their staff. The flexible work arrangements have changed over the years in United kingdom where in 17.7% of men and 26.7% of women were employed with flexitime arrangements in the United Kingdom, Recommendations What I think is best is they should conduct a survey as to what the employees require The Survey should state what is needed and the staff would really respond is a appropriate way, which would provide an insight on culture of the organization. This type would also improves ways of getting worked done so the building or the floor is utilized to its full capacity . Work during quiet periods Working in this type of nature would increase the amount of work and making maximum use of the human resource. Fox example, if you are in customer service this would help a person make use of this time in paper work when the phones re not ringing Work-life balance This way of working environment would create a balance in work life which will help morale, motivation and commitment to the organization. This would help a person focus on his/ her work more effectively, than changing their focus elsewhere. This would help in increasing the business reputation of the employer as a whole Impact on your employers business This system has a major impact on the business , they are possibilities that the application might get rejected based on the business grounds of the organization. Cost of keeping the workplace open for longer There will be cost incurred in opening the workplace for longer, which could be a loss for the company , think about the security they need to provide we need think about these costs by the adavantage of this. Keeping track of hours worked The company may argue that it will be difficult to keep a track of hours the employee is trying to work .This might lead to confusion in the ending during the time of payment. Responding to customer needs I refuse the concept of to work flexitime as it will have an impact on the ability of the business to meet customer demand. I would Point out the business to would respond better to customer needs if more hours of the day is available two Performance management and improvement Traditional the organization conducted the performance in an disorganized manner and they would listen to the higher sub ordinates and take their orders these were considered as performance indicators. The formal system of appraisal followed by the Indian companies was considered as a confidecial report.. The purpose of Performance management and improvement is to improve the efficiency of the employees. The company encourage the employees to give feedback to management . The company employees will undergo a formal kind of performance review by their immediate managers based on the performance of that employee for that particular period 4 times in a year. The company follows the critical incident method , the manager keep a recorded of positive and negative contribution of the sub-ordinate s work related behavior .And discuss the performance based on this examples. objectives The software company like L T the project manager of that particular team would handle this performance review and here will be particular time set by the management of the company for this . The manager that is project manager would meet openly and constructively discuss the performance of that employee usually a general discussion. Based on the performance training would be given for that employee if their performance is very bad The manager should make a note of that team should have notes and copies that which is required to should to the higher authourity. L T uses this performance e to improve the performace of the company .If the company is not happy with the performance of the employee the company may end that employees employment.Depending on the circumstance , the performance improvement action may include warning , councelling or retraining. LT requires a ceratin minimum standard of performance which will be made clear to the employees that this would also help in appaerisal. But if the employee does not meet to the standards of the company LT will take apporaite action or in cases of serious misconduct or brech of policy may dismiss the employee. Every employees of LT must understand their responsilities and it is expected out of the by the company to meet the standards as required by LT. The comaony also provides a chance to the employee to defend themselves befor any action could take place. Performance improvement objectives LT will identify the employess who are in shortfall of performance and give them a chance of improvement. The manager will keep on eye on their improvement and based on their state of performance would sugeet them approate action such as training If the employees was given a verbal warning the manager will make of note odf the date and mark it. The manager will allow the employee to respond before making a decision and consider the employees responses. The employee may have a support person present at such meetings. The manager will decide if more action is needed. They will continue to support the employee and note the support they give, for example, training or counselling. The warning must clearly define: the deficiency a clear explanation of the expected standard by when the employee needs to achieve it how the business will help the employee achieve the improvement required consequences of failing to improve. Critical analysis The performance management system has a lot aof advantage for the company as it would be beneficial to the employess and the organisation as awhole. The employees will be working for themselves as well as for their individual teams thus improving the levels of communication. This is a type of goal alignment means having a process in place that allows any manager to see the link between employees goal and those of the teams and organisation. This type of performance evaluation in the organisation would help work flow, process control and return on investment on on ehich the company is targeting for would be linked in a meaningful way in achieveing the company overall performance. But not all the employees would be benefited from this system. We need to understand as to why this performace improvement is required . Firstly because they serve a useful career palaaning purpose . they provide an opportunity to review the employees carrer plan in light of his or her ahrenght or weakness. Secondly this would help the manager and his/ her sub ordinate to develop a proper plan to identify the sub ordinates deficiency and reinforce the right strategy in overcoming that defiencey. Thirdly this would help the employer to turn their strategics goals into specific employees goal , this can be done only if the performance is reviewd periodically. Critical Incident method has several advantages such as this makes tghe supervisor think all over the year about the appraisal of the sub ordinate. It also provided examples of good and poor performance that the supervisor can use to explain the persons rating But the down side of this critica incident menthod would be that the manager cannot use this foe comparing employees performace ith others. Recommendations. It help in setting the organisational goals Setting the departmental goals Define expected results Helps in performance Review Helps in providing feedback Standards may be unclear; halo effect, central tendency, liency, bias can also be problem Difficult to develop Can cause disagreement among employee and may be unfair if all employees are, infact excellent Time consuming Difficult to rate or rank employs relative to one another. Grievances Larsen Toubro Limited (LT) supports all the employees of its organisation to wite a grivence report to their manager if any decision on the of the management of the company is affecting their employement and what make them feel unfair. They can also compliat if the performance improvrment action against them is not suitable. Larsen Toubro Limited (LT) makes all possible attempts to solve the grievance of the employs in many possible ways .The manager would have the grievance that to the next possible level of authority for more discussion on this, have it sorted ouit as soon as possible . Managers will do their utmost to action grievances objectively, discreetly and promptly. Be aware that grievances that are misconceived, vexatious, and lacking substance may result in disciplinary action being taken against the employee lodging the grievance. Objectives The employer should solve this grievance as soon as possible .This should be informal and verbal. If this could not be achieved then the then grievance should be solved in a formal way and this process is continues. To start with the formal grivence investigation the compliant should be given in writing , with all the details , date , location and how they have tried to solve this problem in an informal way . If the grievance still cant be resolved, refer the matter to the most senior manager for consideration and a final decision. A grievance taken to this level must be in writing from the employee. Visit the work area of the grievance. Determine whether they were any witness. Fully examine the report of the grievance. Critical analysis A grievance is obviously problem encountered by an employees of any organisation. Sometimes there might exist bad relationship between the manager and the sub ordinates, there will be conflicts between the team members . problem employees are yet another cause for grievances shoot up in the company, these kinds of employees are always unhappy. These are individual who by nature it self are negetative , dissatisfied and prone to complaints. Yet the strategy introduce by these company its very good what I felt wa that the company should be careful while handling a grievance because they should not loss out any of the other good employees, in facta very good procedure indeed. Recommendation The best ways to handle the grievance s to build up an environment in such a way that the grievance would never occur. CONCLUSIONS Larsen Toubro Limited (LT) expects its employees to maintain a high standard of conduct and work performance to make sure the business maintains its good reputation with customers and clients. Good personal conduct contributes to a good work environment for all. This HR policy and procedure of Larsen Toubro Limited (LT) provides the policies and procedures for managing and developing staff. It also provides guidelines Larsen Toubro Limited (LT) will use to administer these policies, with the correct procedure to follow. In fact the above few mentioned facts are one among the HR policies, time to time it will be necessary to modify and amend some sections of the policies and procedures, or to add new procedures The main benefits are that it: assists the company to meet its legal obligations is a proven way to help managers and supervisors make consistent and reliable decisions helps give each employee a clear understanding as to what is expected and allowed