Strategic management Essay Example | Topics and Well Written Essays - 2000 words - 22

Strategic management - Essay Example It is therefore very difficult to give an optimal decision that will ensure that a given strategy will be implemented effectively in the foreseeable future. Strategy formulation can be described as the phase of strategic management that encompasses planning and decision making that will enhance establishment of the organization’s goal and of strategic plan. Strategy formulation can be described as that phase of strategic management that involves the use of organizational and managerial tools to direct resources towards attaining strategic results. From these definitions of strategy formulation and strategy implementation, it is clear that strategy implementation will fail as a result of the failure of strategy formulation. Decisions that are made to process formulation of a strategy are prone to be affected by internal and external factors. Before proceeding with review of literature is important to talk about ‘strategy,’ which is a widely term. Due to the fact that strategy in this paper is referring to the ‘strategy’ that is used in strategic management. Most of the definitions that have been put forward to describe strategy are very easy and lack comprehensiveness (Mintzberg et al., 1998). It is for this reason that he argues that several definitions should be incorporated to define strategy, and he called them the 5Ps for strategy. The environment is frequently increasing in vitality making it difficult for the prevalence strategic planning. Strategic planning systems are therefore influenced by various factors as indicated by various studies. Some studies have indicated that an environment which is turbulent enhances decentralization of strategic decision making process (Lindsay and Rue, 1980; Grinyer et al., 1986; Wilson 1994). The fact that strategy planning involves the prediction as w ell as uncertainty about the future and the only way to curb

Slavery and the atlantic slave trade Research Paper

Slavery and the atlantic slave trade - Research Paper Example The importing of African slaves became an essential, acceptable and profitable part of European commerce. Taking advantage of the internecine warring amidst African nations, Europeans forcefully removed Africans from their homeland, with the largest numbers from the Gold, Ivory and West Coasts. The cruel system of African slavery was uniquely different from other forms of slavery due to the brutal manner in which it was conducted, the treatment of African slaves as goods or personal property, and the great numbers of people who were captured as slaves, believed to be over 50 million. The one-way trip to the Americas was known as the â€Å"Middle-Passage†. One of the major debates among historians about the transatlantic slave trade argues the specific reasons for Europeans to enslave Africans during an extensive period spanning the 15th to the early 19th century. Thesis Statement: The purpose of this paper is to determine whether European motivation for the slave trade was rel ated to profits, racism, or had another explanation. The Significance and Long-Term Effects of the Slave Trade Historian Marcus Rediker has explored not only the transatlantic slave trade, but also the slave ships by which the trade was carried out for centuries. The transportation of enslaved Africans and business transactions of slaves towards their use as forced labor, forms history’s greatest imposed migration. ... Contrastingly, the loss of large numbers of its people led to extensive decline in Africa’s economy and political situation. Despite rich natural resources, the continent’s inability to overcome its low levels of development towards progress is attributed fully to its past of enslavement and depletion of its population3. However, other reasons such as the siphoning away of world financial aids meant for Africa’s development, by politicians in the weak political system, further undermines the continent’s future. Racism and the Brutality of the Transatlantic Slave Trade Significantly, racism is defined as white supremacy4, because no other race in the world has asserted itself to be the superior race; and used political or economic resources to impose oppression on others on the basis of race. The Europeans considered themselves as the superior race on the basis of their light skin color, and believed that dark skin genetically predetermined Africans as infe rior, and suitable only for the status of slave. Thus, the Europeans developed deeply ingrained discrimination against the dark coloured Africans as â€Å"others† belonging to a lower class of humanity. This approach is also evident in the fact that Europeans did not enslave other Europeans because of an underlying commitment to individual rights. They considered other whites as similar to themselves, and consequently their equals. Since Africans were considered as different both physically and culturally, this â€Å"otherness† was the rationalization for enslaving, ill-treating and enforcing hard labor on them. Carl Degler5 and Winthrop Jordan6 supported this view of racism being key to Africans’ enslavement by the white Europeans.

Governance regulations and ethics paper Essay Example | Topics and Well Written Essays - 3000 words

Governance regulations and ethics paper - Essay Example The financial crisis was considered the worst global crisis since the great economic depression. Many economists also perceived the financial crash as the worst in the economic history. The film under study is based on the most extensive research and exhaustive interviews with key financial insiders, politicians and journalists. Many academicians from different fields of knowledge were also included in the research to give their views on the subject. The film analyzed is based on the rise of a rogue industry, which has corrupted politicians, professionals, academicians, and regulators. The film unearths the 2008 global financial crisis that shook the entire global economy since the effects of this depression was felt either directly or indirectly in every sector of the economy. Arguably, the film portrays the financial crisis as a result of poor financial planning, forecasting and greed among some powerful individuals to amass wealth and enrich themselves. In fact, it is through such corruptions among certain powerful individuals, which shook the entire economy that the world is still yet to recover and recoup the financial losses. Definitely, this will take the country a lot of time and resources before it is restored to its former economic status (Furmston and Chuah 67). On the other hand, the entire globe still battles with the implementation of viable and some of the most appropriate economic policies, which steer economic development. Therefore, a lot of funds are required to be invested in the economy to promote economic growth and development. The UK corporate code of governance is also a crucial document that is very important in examining the elements of this case. Precisely, the corporate governance code 2010 was devised in a mid of the financial that shook the entire economy. This economic depression triggered a financial panic and suffering in the country and globally. The main aim of the UK corporate code was to investigate and monitor the performa nce of the listed companies and banks. This code has other aims and objectives as well. The corporate code was intended to facilitate effective entrepreneurial and prudent management for corporate governance to enable a company establish some sound management policies and guidelines, which can deliver the long term success of the entity. From the analysis of Nelson’s book, it is evidenced that good management principles and practices are essential in promoting the growth and development of the economy (Nelson 42). Moreover, the UK corporate code acts as a guide to a number of key components, which are involved in effective and sound governance. The code is based on good governance and transparency, accountability and focus to the core objectives and goals of various business entities. Importantly, the focus is on the long term entities of the corporations. The code aims to help the board of governance discharge their duties on the best interests of the company. In the review, the code saw few, but some significant changes in the â€Å"tone† of the code that guides the general behavior of the board with the hope that these changes help in promoting some clarity and understanding. In regard to the task of the board, and ensure there is efficient and effective communication with various stakeholders (Woodroffe 56). Furthermore, the code aims to ensure there is proper accountability and reduce underpin board ineffectiveness by encouraging that all the

Contract law as practiced in Europe Case Study Example | Topics and Well Written Essays - 1500 words

Contract law as practiced in Europe - Case Study Example The aim of this letter is to examine whether your wife has a chance of getting a favourable settlement in court if she decides to take legal action against you after all. The issue here is whether Penny's case will succeed if brought to court. In other words, will the case find you, Max Power, liable of paying Penny the money that you owe her for support for the past six months This is given the fact that the two of you are still legally married under the Irish Family Law Act 1995 and you having promised to support your wife who is unable to work because of the work place accident that she had five years ago. These are the questions I, as your legal adviser, will be trying to answer in this letter. As to whether Penny's case will succeed if it comes before any Irish family court, I strongly believe that your wife stands a higher chance of convincing the judge to force you to clear the outstanding balance and to continue paying her the monthly allowances. This is if she accuses you on other grounds apart from the current grounds of ostensibly breaking a contract. However, since she has opted to sue you for breaking a contract, I believe that her case does not stand a chance in a court of law in England. This is because there is no legal document that exists showing that the two of you entered in any form of contract. ... 3 In June 2008, you left for Dubai and left your wife alone at home 4 You verbally agreed to pay Penny support allowances of $1500 verbally and you did so for six months 5 In January 2009, you met Stacey Floodgates and soon took her in as your partner 6 Since January 2009, you defaulted on paying Penny her monthly allowances 7 Five years ago, Penny had an accident which left her unable to work, and so she had been relying on her husband's support payments for upkeep 8 The reason why Penny is suing you is because she believes that the contract between the two of you, though verbal, was binding Rule Statement and Rule Synthesis For a contract to be binding under the European code of conduct, there are some requirements that it has to meet. These are generally referred to as "the three c's" (Gordley, 2008). The first is the cause, whereby a reason should have emerged that required for the drafting of the contract (Gordley, 2008). The second is consideration. This is whereby the two parties must have identified the form of contract that is best to enter into to given their circumstances. The third and most important aspect of a contract in our case here is the consent (Gordley, 2008). This is an indication that the parties went through the contract and agreed to abide by the terms provided for there. This consent is indicated in form of a signature that is appended by both parties in the contract. Without a signature, leave alone without the written document, the contract is null and void, and nobody can be accused of breaching it. The only exception whereby an actual signature is not needed on the document is when the contract is done online (Orlando, 2009). But even these form of contracts, under the Irish law that governs electronic contracts,

Auditing2 case analysis Study Example | Topics and Well Written Essays - 500 words

Auditing2 analysis - Case Study Example Therefore for a business to address this issue, it has to put in place control measures that will reduce the number of risks the business is exposed to. This is not a fool proof measure but rather ways of mitigating the extent of loss in case the business suffers. This paper therefore seeks to identify the inherent risks in the case presented, point out internal control weaknesses, the best sampling techniques to use in testing the reasonableness of the various departments. 1. In the case given, the CFO and CEO worked together in the previous company. There is an inherent risk that they are incompetent in discharging their duties and had to leave the company. This is a risk that HFC needs to be aware of and put in place measures to identify and mitigate any loss that may arise due to their incompetence. The order and shipping department has the potential to incur inherent risk whereby the quality of the goods may not meet the required standards to satisfy customers. Another risk is in credit approval. Currently, once a customer is approved, they remain credit worthy until the cease doing business. The inherent risk here is that the customer may leave a bad and irrecoverable debt to the company. This clearly is a risk that can be mitigated by introducing an internal control policy to do a background check on customers before approval. The company can also set limits to the amount that a customer can be advanced by the business. 2. An internal weakness simply means the possibility of the internal checks to detect or deter any fraudulent activities either willingly or not willingly. There are several weaknesses in the company such as placing orders over the internet and via phone calls. It poses a threat to loss of stock since this is an asset with high liquidity. With the advancement of technology, there is a risk of receiving fake orders coupled with the weak controls in credit approval, and consequently loosing cash in form of stocks.

Competing Political Interests And Poverty Reduction Essay

Competing Political Interests And Poverty Reduction - Essay Example It can negatively affect the progress of the nation itself. â€Å"Poverty is produced by circumstances, not individuals,† (Fincher & Wulff, 1998). Economic crisis increases the so-called ‘poverty sector’, leading to joblessness and social unrest. A proper planning and a better utilization of the available resources of the nation will lessen the poverty level to a great extent (Narayan & Parker, 2000). Diverting the existing resource to the disadvantaged people is the need of the hour. Every nation needs a proper governing authority to plan, accomplish and accelerate its growth. In developing countries especially, governments and political parties lead the show and try to bring progress to the society and stability to the economy by eliminating the curses like poverty. The ruling party and other political parties try to uplift the general status of the society and go deep into the problems and grievances of the people to a certain extent. Even though they do have o pinion disputes and conflicts among them, they contribute a lot for the progress of the society and nation (especially rural areas where poverty is still a problem) (Pantazis, Gordon & Levitas, 2006). Political interests and competitions play a major role in eliminating poverty from the nations. In the third world countries especially, political parties contribute a lot to the development works. Political parties try to perform well during their ruling tenure and take various actions for the negatively privileged sections of the society. They try to look into the agonies of the people of ill-developed areas since such areas have the majority of the population in it. These less developed areas would be eagerly looking forward to a government which can help them to improve their total grade. No political party can ever think of getting the rule in their hand without the votes of these majority weaker sections.

Future of Montserrat Essay Example for Free

Future of Montserrat Essay The island of Montserrat is situated upon an underwater volcano created by a destructive plate boundary, with the volcanos peak protruding from the south side of the island by the name of Chances Peak in an area entitled Soufriere Hills (in the Caribbean). For 350 years the volcano had remained dormant; however a few weeks ago, Chances Peak became active again and began to emit dust and ash – warning signs that an eruption was almost imminent. On July 20th 1995 (yesterday) the anticipated eruption occurred, producing numerous quandaries for the surviving residents of Montserrat. Montserratians will experience the social impacts of the eruption; these may be the most direct of all the predicaments they encounter and therefore the most challenging to face. Since the volcanos on the island are perceived as unpredictable, the inhabitants are fearful of another eruption. Though they are presently being transferred to a temporary safe region, it is unknown whether a subsequent eruption would be more severe than the first and raise the figures for the injured or killed (19) unnecessarily. Hence the many who have left the island to reside (maybe permanently) in neighbouring islands, the UK or the USA, however this only applies to the populace that possess sufficient funds to do so. The safe regions are reportedly extremely crowded; consequently, with the low sanitation levels, the spread of disease will accelerate. Also, farmers are unable to farm due to constricted land and the devastating environmental impacts of the volcano. If the more wealthy (we can assume the more educated) no longer choose to reside in the island, a ‘brain drain’ will transpire, leaving farmers and communities with small businesses that rely on tourism on Montserrat, though if eruptions cease and the volcano becomes dormant again, life for the farmers could improve as over time the soil of the area would be very fertile. As a result of the ‘brain drain’ there would be an absence of teachers; therefore the children on Montserrat would not be able to learn for a period of time. Moreover, a deficiency of doctors and hospital personnel would leave many people in need of medical help unattended to. Furthermore, persons already residing in the north of the island would have to compromise with the new displaced people; this may cause some feuds over pace etc†¦ The GDP and GNP of Montserrat are predicted to face dramatic cutbacks due simply to the loss of people on the island, and the lack of income from farmers who do not have access to land they can farm on, or businesses that have been destroyed – which is common as many companies were positioned in Plymouth – a city that was completely covered by ash and soon after finished off by deadly pyroclastic flows. If the GDP and GNP do fall, citizens who have decided to stay will be significantly poorer, and therefore may not be able to pay taxes. In addition, a vast sum would have to be paid in damages to property and the building of temporary displaced peoples camps. Due to ash clouds, airports would be closed down, and airlines would have to pay massive amounts in lost revenues. Conversely, industries for other forms of transport (such as shipping companies) would benefit, as passengers search for alternatives to flying. The frequency of imports and exports would not decrease massively as a mere 1% of trade in the UK occurs on flights. Also, (elaborating on the point of aid given by other countries above) since the Montserrat was included in the Federal Colony of British Leeward Islands, the UK may offer some financial support to help improve the islands economy if the damage to it is serious enough. Additionally, the volcano has had colossal impacts on the environment (both positive and negative). Firstly, the ash has suffocated many of the flora and fauna, furthermore, the pyroclastic flow and lahars have killed all life (excluding human) within a 2km radius. Carbon dioxide emitted from the volcano is predicted by scientists to contribute to the greenhouse effect, sulphur dioxide expected to cause environmental issues as sulphur in the stratosphere is the main cause of acid rain. Nonetheless, as a result of two thirds of the islands population predicted to leave the island) the flora and fauna may flourish as there will be less human activity and settlements, leaving nature to itself without interference from machines, factories, and other forms of pollution. The land and soil affected by the volcano will also become fertile, which will, in turn, enhance the growth of plants and trees after an amount of time, and allow them to regrow. The slopes of Chances peak after the eruption are reportedly steeper than before, which will promote growth of delicate, and rare plants can grow with the protection of the slope. The volcano is also expected to alter the weather around Montserrat, causing rain, thunder and lighting. Sea temperatures have reportedly risen, killing some species that rely on specific living conditions, also silting in rivers or lakes has forced boats to stop navigating them as the depth is insufficient. On political terms, and elaborating on the point made above concerning tax and its correspondence with the lack of people on the island, the amount of tax received by the government would decrease too, resulting in a government prone to corruption. Moreover, the government may not be considered fit to run the country by its people, and may be voted out. The government of Montserrat may be forced to relinquish their independency, and amalgamate with another country to become part of their nation (a plausible example would be Montserrat re-joining Britain). On the topic of short term needs, a few that exist are food and drink, and temporary residency areas. Since the eruption would have most likely demolished many of the populace’s properties, and belongings, they will need an alternative place to stay such as the safe zone which has been arranged in the north of the island and is one third of the islands size, compressing hundreds into a tiny space. The government would also be burdened with the task of providing sufficient food and drink for the residents as they would have no means of income, or a market area to buy their own. Medical aid has also become necessary, however not as much as expected as (thankfully) most who occupied the most affected areas had been evacuated before the eruption. Long term necessities will help sustain lives devoid of poverty and hunger for the people of Montserrat. An example of a need which will help the populace in the ‘long run’ is loans to restart businesses and companies citizens had lost in the pyroclastic flows or ash. Furthermore, the government or a country aiding Montserrat could assist by building an early detection system or research facility, to identify when future eruptions may occur, therefore allowing time to prepare. MEDC’s like the USA or the UK might be reviewing plans to assist through the means of creating rehabilitation programmes, or even allowing the people of Montserrat to apply for permanent residency; this would solve the problem or relocating people to live their lives in a safe location.