Strategic Management Analysis of Nike - 2527 Words

NIKE _______________ IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR STRATEGIC MANAGEMENT _______________ BY: Castronuevo, Jan Clark Meer, Regginald Young, Johnedel Quintero, Arvin Dioneda, Jefrick September 18, 2009 Section 1 - Executive Summary Back before the Swoosh logo and long before the days we were called Nike, there was Blue Ribbon Sports (BRS). It was the company Phil Knight, our founder, and legendary track coach Bill Bowerman created in 1964 to provide athletes with better shoes. Their first year sales totaled around $8,000. It wasn’t until 1971 that BRS introduced the concept of the Greek winged Goddess of victory—Nike. In December 1980 we went public. Nike employs more than 33,000 people globally. Our Nike World†¦show more content†¦| Bargaining power of supplier. | Economic | .10 | 3 | .30 | 3. | Foreign exchange rate changes affecting imports/exports. | Economic | .05 | 2 | .10 | 44. | Economic crisis. | Economic | .05 | 1 | .05 | 5. | Threat of substitute products. | Economic | .15 | 4 | .60 | TOTAL | | 1 | | 3.72 | Internal Factor Evaluation Matrix (IFE) KEY INTERNAL FACTORS | FUNCTION | WT | RATING | WTD SCORE | STRENGTHS | | | | | 1. | Superior research and development. | RD | .20 | 5 | 1 | 2. | Marketing and distribution expertise. | Mktg | .15 | 3 | .45 | 3. | Strong management culture. | Mgmt | .10 | 3 | .30 | 4. | High financial returns. | Finance | .15 | 4 | .60 | 5. | Good corporate image. | Mgmt | .20 | 5 | 1 | 6. | Operational efficiency and effectiveness. | Operations | .10 | 4 | .40 | WEAKNESSES | | 0 | | 0 | 1. | High cost promotional activities. | Operations | .05 | 5 | .25 | 2. | Abuse of management Prerogative | Mgmt | .05 | 2 | .10 | TOTAL | | | | 4.10 | TOWS ANALYSIS MAX | STRENGTHS1. High Financial Returns2. Strong Management Culture3. Marketing/Distribution Expertise4. Superior RD5. Good Corporate Image6. Operational and Promotional efficiency and effectiveness. | WEAKNESSES1. High-cost Promotional Activities 2. Abuse of Management Prerogative | OPPORTUNITIES1. Change in consumer lifestyles.2. Decrease in taxation.3.MarketExpansion (Geographically and target market).4.Increase in Product Lines.5.Changes in the view of athleticShow MoreRelatedStrategic Management Analysis of Nike2519 Words   |  11 PagesNIKE _______________ IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR STRATEGIC MANAGEMENT _______________ BY: Castronuevo, Jan Clark Meer, Regginald Young, Johnedel Quintero, Arvin Dioneda, Jefrick September 18, 2009 Section 1 - Executive Summary Back before the Swoosh logo and long before the days we were called Nike, there was Blue Ribbon Sports (BRS). It was the company Phil Knight, our founder, and legendary track coach Bill Bowerman created in 1964 to provide athletes withRead MoreEnvironmental Scan Essays952 Words   |  4 PagesEnvironmental Scan Nanette Guffey MGT/ 498 – Strategic Management Richard Haines September 17th, 2012 Environmental scanning is an organization’s strategic management and is actual important to the corporation. Environmental scanning is getting-together data for the external and the internal of the company.Read MoreNikes Long Term Financial Goals938 Words   |  4 PagesHow important is it for the financial managers of Nike Inc. to use economic variables in identifying long term financial goals? For Nikes business model to continually flourish and stay profitable, the senior management team and strategic planners must continually monitor short, intermediate and long-term economic factors that will affect their operations. Nikes business model is heavily dependent on supply chains, as the majority of their products are manufactured in Asian nations, either inRead MoreNike, Mission, Vision, Values, Principles Essay704 Words   |  3 PagesRunning head: NIKE, Inc. Mission, Vision, Principles 1 NIKE, Inc. Mission, Vision, Principles Ameirah Aldahmani MSM631 – Strategic Management and Financial Reports Analysis Regis University Saturday, September 04, 2010 Abstract This paper is a qualitative and quantitative analysis of NIKE, Inc., done as six separate sections. The six sections of the project are external environment analysis, S.W.O.T analysis, executive interview, strategic and tactical plans and controls, structure,Read MoreNike s Competitiveness And External Environment1488 Words   |  6 PagesNike’s Competitiveness and External Environment The PESTAL analysis will help determine Nike’s current issues regarding their macro-environmental factors. The PESTEL analysis covers six areas of interest. The political factors for Nike are the possibility of tariffs being imposed by the United States federal government in their overseas operations. According to the world manufacturing map, Nike has factories in 42 countries (Nike, Inc, 2017). Therefore, tariffs, sanctions, or embargos that couldRead MoreNike s Offensive Competitive Advantage1206 Words   |  5 Pagesand then apply to a company. The Five Generic Competitive Strategies that Michael E. Porter developed are not really five strategies, more like five with subsets under them. Nike does not fit neatly into a specific strategy. The first factor within the competitive strategy as described in the Essentials of Strategic Management textbook is a broad target market or a narrow target market. The second factor considers the competitive advantage is striving to lower costs to the customer or utilizing aRead MoreThe Contemporary Challenges Of Outsourcing1244 Words   |  5 PagesMatthew Butler December 2nd 2014 Contemporary management Professor Beehner M.P.A Contemporary Challenge Essay Outsourcing â€Å"Outsourcing is the transfer of control of a process or product to an outside supplier†(Hasan). For this assignment, please identify a contemporary management challenge (e.g. diversity, globalism, ethics social responsibility, etc.). Then, identify a company or organization that you believe has been impacted by this contemporary challenge. Write a minimum four-page paperRead MoreNike Case Analysis717 Words   |  3 PagesNike’s Global Women’s Fitness Business: Driving Strategic Integration | [Your Name] | Introduction and Background In 2006, the American footwear, apparel and equipment manufacturing giant announced a major corporate reorganization that would switch the company’s attention from a product orientation to a category-driven approach. A product orientation approach, which was previously effective for Nike, centers all the business activities on continually innovating, improving and refining itsRead MoreAnalysis of Nike by Porter Five Forces Model1430 Words   |  6 PagesFamily name Bao First name Cheng ( Steven ) Title: The analysis of Nike in athletic footwear market based on porter’s Five forces model 1. Introduction One and a half months ago, the biggest athletic event in the world  ultimately drew its curtains after a pitched one-month-long battle, which saw thirty-two teams vying for the roll of honor of being crowned the final kings of football – the World Champions – and earn bragging rights for four years at least. It was not onlyRead MoreMGMT 479 UNDER ARMOUR Powerpoint Group Essay1065 Words   |  5 PagesTeam Developed Strategic Audit – Under Armour (UA) { Group #3, MGMT 479C Team Members: WELCOME TO UNDER ARMOUR ® EVERYTHING HERE IS BUILT TO MAKE YOU BETTER. www.underarmour.com Kokou Klu ïÆ'‘ Past Corporate Performance Indexes (2009-2010) ïÆ'“ ïÆ'“ ïÆ'‘ Strategic Posture ïÆ'“ ïÆ'“ ïÆ'‘ Mission – â€Å"To make all athletes better through passion, science, and the relentless pursuit of innovation† Objectives – Become â€Å"The athletic brand of this generation. And Next.† Current Strategies ïÆ'“ ïÆ'“ ïÆ'“ ïÆ'‘ Decline in footwear

Using Bait And Switch Advertising - 1305 Words

Edward Lazear, an economist who graduated from Stanford, defines bait and switch advertising as when a â€Å"low priced good is advertised but replaced by a different good at the showroom.† (813) In other words, what is advertised is not the final product. Rather, the advertisement is used to draw in customers who then must settle for the next best thing – according to the company, of course. Additionally, he gives a second definition of bait and switch. This definition is the conditional opposite, though it has the same central meaning: â€Å"a seller advertises he has the high-quality good at a low price but replaces it with the identical good, renamed and carrying a higher price.† (Lazear 828) Lazear also claims that bait and switch is a â€Å"profitable strategy resulting in a fully rational equilibrium with false advertising.† (813) The profitable nature of using bait and switch advertising is a direct result of consumer susceptibility. When using bai t and switch tactics, enough customers â€Å"may be induced into the showroom by advertising to make up for those lost from failing to advertise truthfully† (Lazear 818). However, that profit turns on its head when the company is caught participating in such a practice. One example of bait and switch tactics working against a company is in the case of Laptop Desktop Repair, LLC. The owner, Vadim Kruchinin, reportedly misled customers with â€Å"high-dollar offers to buy back their electronics, only to give consumers far less after they sentShow MoreRelatedEssay on Ethical Issues in Real Estate Promotion664 Words   |  3 Pagesby using ‘bait-and-switch advertising. Bait-and-Switch advertising is a dishonest sales practice in which home developers advertise a lower price for a home in order to attract home buyers and then inform the prospective home buyer that the advertised item is no longer available and attempt to sell the customer to a more expensive home. Based on my home buying experience, I found this to be a common marketing method used by home developers and real estate agents. I experienced bait-and-switchRead More Marketing Ethics Essay663 Words   |  3 Pagesissues in their everyday marketing activities. Such marketing activities that require marketing managers to utilize their moral values ethically are advertising, packaging and labeling, and global marketing.   Ã‚  Ã‚  Ã‚  Ã‚  Advertising is the most criticized of all micro-marketing activities (McCarthy 643). What is considered as unfair or deceptive advertising is very difficult to pinpoint, because times have changed and continue to change on a day to day basis. What one person may consider unfair or deceptiveRead MoreMarketing Ethics : The Moral Values That Direct Marketing Choices And Activities1612 Words   |  7 Pagesdifferent view on what is considered right or wrong. There are certain ways a company can promote their products that come across as unethical. Some of these unethical ways include: using misleading information and deception, using puffery to hype up their products, using sexual content to gain consumer’s attention, and advertising to children. For organizations hoping to enhance the image of their brand and continue to grow with clients, this sort of deceptive conduct can rapidly prompt disappointment.Read MoreFederal Trade Commission and the Act4078 Words   |  17 PagesACT 2 FALSE AND DECEPTIVE ADVERTISING 5 BAIT AND SWITCH ADVERTISING/TACTICS 8 CONSUMER FRAUD 10 IDENTIFYING, VERIFYING AND PREVENTING DECEPTION 12 CLOSING STATEMENTS ABOUT THE FEDERAL TRADE COMMISSION 13 BIBLIOGRAPHY 14 ABSTRACT The paper will serve as a historical background overview of how the Federal Trade Commission Act (FTC) came into existence. The paper will also break down the key components for which the FTC covers, such as deceptive advertising, baiting and switching andRead MoreDecisions that Determine the Success of a Business942 Words   |  4 Pagespersuade customers include using emotion, sales, peer pressure, confusion, idioms, endorsing with celebrities and common folk. According to Frisch, another type of advertising is the permissible lie. This is letting viewers decide what to think. An example they give is about fast-relief medicine. Frisch says that the customers’ fast may be different than the company’s fast. You have to watch out for using illegal techniques when advertising(38). There is also illegal advertising that you have to watchRead MoreBusiness Studies - Competition and Consumers Act1189 Words   |  5 Pagesmisled or discriminated against and also to regulat e certain trade practices that restrict competition in the market in order to sustain choice for the consumer. This influences a business’ marketing mix in which certain pricing strategies and advertising techniques can not be enforced. The Competition and Consumer Act imposes certain penalties for breaching the act, which will impact Australian businesses. Breaching the act can result in being charged for criminal or civil proceedings throughRead MoreHistory of Advertising (False Advertising)3614 Words   |  15 PagesEthics in Marketing: False Advertising History of Advertising and the Rise of Ethical Implications For decades, advertisements have been telling us not only what to buy, but also what we shouldn’t be able to live without. The history of advertising can be traced back as far as the Roman Empire, where posters advertising the gladiatorial games would be hung around for all to see. Modern advertising dates back to about 1583 when the first daily newspaper was printed in England under the reignRead MoreThe Ethics Of Electronic Advertising916 Words   |  4 PagesThe vast technological advancements within the last decades have changed how businesses approach current and potential customers. Advertising strategies have transcended traditional mediums and have evolved to infect new technology mediums. The Internet opened the doors to new possibilities and it is no different with advertising. Every new era has some new invention that calls into question its ethical standards such as the radio, television, computer, and now the Internet. Ethics concerns the moralRead MoreMar keting Mix Of My Real Estate1352 Words   |  6 Pagesour services to our clients (Futrell, 2011). Question 2 I would be honest in my advertisements and advertise my true services. Moreover, in using direct marketing, I would avoid electronic spam and understand best approaches to my potential clients. I would also avoid â€Å"bait and switch† method which is an anti-competitive practice to bait customers by advertising my services for a lower prices, and then selling at costlier prices (Couzin Grappone, 2014). Product features Friendliness, Good communicationRead MoreEthical Issues in Advertising1963 Words   |  8 PagesETHICAL ISSUES IN ADVERTISING Advertising is a paid non personal communication about an organization and its products that is transmitted to a target audience through a mass medium. It is a kind of promotional activity. Advertising is widely criticized. Advertisements often do not include much objective information for the simple reason that their primary function is not that of providing unbiased information. Exaggerated claims and outright falsehoods are the most obvious targets for complaints

Why Music Education Should Be in Schools Free Essays

shoâ€Å"Music majors are the most likely group of college grads to be admitted to medical school. Physician and biologist Lewis Thomas studied the  undergraduate  majors of medical school applicants. He found that 66 percent of music majors who applied to med school were admitted, the highest percentage of any group. We will write a custom essay sample on Why Music Education Should Be in Schools or any similar topic only for you Order Now For comparison, (44 percent) of biochemistry majors were admitted. Also, a study of 7,500 university students revealed that music majors scored the highest reading scores among all majors including English, biology, chemistry and math†. Sources: â€Å"The Comparative Academic Abilities of Students in  Education  and in Other Areas of a Multi-focus University,† Peter H. Wood, ERIC Document No. ED327480†³The Case for Music in the Schools,† Phi Delta Kappan, February, 1994 Percentage of Americans who believe: * Music is a part of a well-rounded education 95% * Music is an activity that a child can enjoy all his/her life 98% * Learning a musical instrument helps students perform better in other subjects 92% * Music brings the family together 90% School band is a good way for young people to develop teamwork skills 97% * Schools should offer music as a part of the regular curriculum 93% * Music gives children a sense of accomplishment 95% * Music helps teach children discipline 92% * Music helps instill an appreciation of arts and culture 96% The U. S. spends more money than any other country in the world per student on education yet does not have the numbers to show it. Japan and Netherlands though put requirements on every single student to be a part of music enriching class through most of primary school How to cite Why Music Education Should Be in Schools, Essay examples

Why I Want to Be a Police Officer free essay sample

A police officer must be alert for any number of threats, human or otherwise. Once a crime has been committed, detectives seize the reigns and engage in sleuthing that ranges from routine questioning to DNA analysis. Sheriffs and state troopers maintain order in bigger bailiwicks: large, thinly populated districts and major highways. Once selected for the force, many officers specialize in a particular aspect of law enforcement or investigation. Most are assigned to patrol a specific area. As police officers rise in the ranks, their duties become more specialized. All police officers, because of their unique role in society, are responsible for maintaining the trust of the public they serve. Because of the responsibilities and prerogatives that come with police work, the pressure on officers can be enormous. â€Å"As a police officer, you’re called upon to do everything. You need to be a social worker, a psychologist, an officer of the peace and a soldier,† one officer reported. We will write a custom essay sample on Why I Want to Be a Police Officer or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Being the first line of defense between criminals and their victims can be very stressful. Nevertheless, police work is mostly a series of routines: patrols, investigations, and paperwork. Even in America’s biggest and most violent cities, police officers seldom have occasion to draw their guns, much less fire them. Perhaps the most common burdens of police work are filling out forms in triplicate and enduring long, uneventful hours walking a beat or riding around in a patrol car. Local law enforcement is a demanding job, but one that most police officers find worthwhile. As one officer commented, â€Å"It’s interesting to map out strategies to solve community problems. Police officers are expected to be in good physical shape. A candidate’s insufficient height, weight, strength, or vision can lead to disqualification. Most police forces require only a high school diploma, although some expect their officers to have taken college courses or encourage them to pursue higher education while serving on the force. Character is also an important considerati on. Some applicants to law enforcement jobs undergo psychological evaluation. All are tested for drug use. Because law enforcement is a local concern, the path to the police force differs from community to community and state to state, but as the world becomes more complicated, so does the training required to become a police officer. Smaller communities may require new officers to complete an apprenticeship program. Large cities maintain police academies where aspiring officers are trained in the various aspects of police work, including investigative procedures, self-defense and the law, while fulfilling more minor duties such as directing traffic. Officers can pursue a managerial track and advance to become a sergeant, lieutenant, captain, or even a police chief or commissioner. Generally speaking, you must serve on the force five years before you are eligible to sit for the lieutenant’s exam, and after two years as a lieutenant, you can take the captain’s test. Each post requires increased education as well. You must have a two-year associates degree to advance to sergeant, 96 credits towards a bachelor’s degree to be considered for a lieutenant position, and a bachelor’s degree to make captain. Associated Careers There are many law enforcement tasks that the police leave to civilian personnel. Psychologists, chemists, biologists, photographers, and many other specialists can find employment with larger police departments. Although none of these specialties is essential to police work all the time, in some situations, expertise can be the key to cracking a case. Since police officers can and often do retire at an early age, many former police officers find good work providing private security for corporations or individuals.

British Literature Mid-Term (The Canterbury Tales General Prologue) Flashcard

British Literature Mid-Term (The Canterbury Tales: General Prologue)

Pelagornis - Facts and Figures

Pelagornis - Facts and Figures Name: Pelagornis (Greek for pelagic bird); pronounced PELL-ah-GORE-niss Habitat: Skies worldwide Historical Epoch: Late Miocene (10-5 million years ago) Size and Weight: Wingspan of 15-20 feet and weight of 50-75 pounds Diet: Fish Distinguishing Characteristics: Large size; long, tooth-studded beak About Pelagornis One of the enduring mysteries of natural history is why the flying prehistoric birds of the Cenozoic Era never quite matched the size of the pterosaurs, or flying reptiles, of the preceding Mesozoic. The late Cretaceous Quetzalcoatlus, for example, attained wingspans of up to 35 feet, about the size of a small planeso while the late Miocene Pelagornis, which lived about 55 million years later, was still impressive, its wingspan of only about 15 to 20 feet places it firmly in the runner-up category. Still, theres no overstating the size of Pelagornis compared to modern flying birds. This soaring predator was over twice the size of a modern albatross, and even more intimidating, considering that its long, pointed beak was studded with tooth-like appendageswhich would have made it an easy matter to dive into the ocean at high speed and spear a large, wriggling prehistoric fish, or perhaps even a baby whale. As a testament to this birds evolutionary fitness, various species of Pelagornis have been found all over the world; a new fossil unearthed in Chile is the biggest yet. So why couldnt prehistoric birds match the size of the biggest pterosaurs? For one thing, feathers are fairly heavy, and covering a larger surface area might have made sustained flight a physical impossibility. And for another, bigger birds would have had to nurture their chicks for longer periods of time before their hatchlings achieved maturity, which may have put an evolutionary brake on avian gigantism after Pelagornis and its relatives (such as the comparably sized Osteodontornis) went extinct, probably as a result of global climate change.

Description of the Film Separation by Asghar Farhadi Assignment - 1

Description of the Film Separation by Asghar Farhadi - Assignment Example This provides the basis for the conflict within the movie. The characters in the movie are believable and have been developed effectively to depict the setting and themes of the story. The producer manages to use a mix of innocence, temperament, wisdom, and naivety among the characters to bring out the story. Within the conflict between Nader and Simin, the director manages to bring in a different perspective by introducing the innocence of their daughter Termeh. The judges of the family court are presented through the story as wise and prudent. This is evident from both cases involving the divorce filed by the warring family. In the first instance, they rebuffed the claims of Simin by insisting that the complications were insufficient. However, they finally warrant the divorce after analyzing the situation and the irreconcilable differences. The producer holds off Nader’s temper until the point where he boiled over. Symbolism has been used in the movies to great effect. The title of the movies, A Separation, is the main symbol used throughout the movie. The separation that was intended to be away from Tehran eventually turns into one between Simin and Nader as the story concludes. Other instances of separation within the movie include Razieh separating from the traditions in order to be able to provide for her family. Terhem is initially separated from her mother then later by her father. The other elements of separation within the story include Nader father’s death and the miscarriage. The separation, which was disclosed at the beginning of the story in the divorce case, was also a consequence of another attempt to separate from the environment in Teheran. There is an array of thought provoking themes that are presented in the movie A Separation. Social division is the major theme that is explored in the movie. The divisions within the movie have been perpetrated using perceptions around religion, occupation, gender, and age.  Ã‚  

Genetic Testing and Genetic Engineering Essay Example | Topics and Well Written Essays - 750 words

Genetic Testing and Genetic Engineering - Essay Example The question is whether it is ethical and right. This question is being raised through the variety of books and films. This paper will accept as a major focus of research the concepts of genetic testing and genetic engineering; the evidence of its observation would be presented through the film â€Å"Gattaca.† Genetic testing uses research facility systems to take a gander at your qualities, which are the DNA directions, which a person acquires from own parents. Hereditary tests may be utilized to distinguish expanded dangers of health issues, to pick medicines, or to evaluate reactions to medications. There are different methods of genetic testing. Molecular genetic tests explore single genes (or short lengths of DNA molecules) to define changes that may force a genetic disorder. Chromosomal genetic testing concerns whole chromosomes or DNAs long lengths to find out if there are severe genetic changes (like an additional copy of a chromosome) that influence on a genetic background. Biochemical genetic tests research the activity level of proteins or their amount. Abnormalities in any can point on changes in the DNA that may result in a disorder in genetics. Genetic testing is voluntary. The main purposes of genetic testing are, first of all, to diagnose disease, to identify changes within genes connected with it, to diagnose the severity of the disease, to help doctors to find the best treatment and medicines to enable to cure.

Charles Gains Conceptualism in Los Angeles Essay

Charles Gains Conceptualism in Los Angeles - Essay Example Ever since the 1960s2, when art in Los Angeles was defined by the introduction of abstract depictions, conceptualization has grown steadily amongst artists. Previous, one sees many faces in painting3 which had led to modernism by themed-nineteenth century. In conceptualization, the focus is on using abstract modes of expression to depict materials that we see around us in daily life, in an all new way. The main advantage of having such an art form was that lovers of art got a new perspective to look at nature and things around them. The perspective was believed to be initially impressionistic. Greenberg in his work Towards a Newer Laocoon, historically delineates how art has been evolving to become â€Å"pure† in its â€Å"medium† and in doing so it must retain the paint and the canvas for what it is and only convey sensation. Once this prescription has been satisfied the painter has achieved the â€Å"medium† of abstract art. Clark’s interpretation of Gre enberg’s Towards a Newer Laocoon, sparks a heated debate between him and Michael Fried. Clark argues that Greenberg is historicizing in his writing and ignoring that art is a reflection of the artist social environment. Formalism should not be the only thing accounted for in a painting but content as well. Artistic standards in history go hand in hand with social practice, which is evident in nineteenth-century Romantics. According to Clement Greenberg (1982), official painting and art forms were set to take a backseat in new forms of artistic depiction. Greenberg argues that if an artwork can be interpreted and agreed upon to be representative of a specific â€Å"situation† or â€Å" object†, then it is merely an imitation rather than a medium. Art (paintings and sculptures) in the 17th and 18th century was directly imitating literature, and so literature being the medium- art was just an illusion of literature.

The Current Macro Environment Of South Africa Economics Essay

The Current Macro Environment Of South Africa Economics Essay Politically, the ANC has created 16 years of continuous rule and government stability but uncertainties surround their ability to manage union strikes and a steadily decreasing electorate vote. Economically, GDP is expected to show continuous growth despite a sharp drop in 2009. Business environment remains strong through FDIs although warning signs herald a weakening of the currency in the future. Socially, although economically viable to invest in this country when considering the low costs of entry, South Africas working population presents a lack of skilled labour required by our firm. Technologically, concentrated areas of RD, industry specific knowledge and improving transport infrastructure help to compensate the temporary shortcomings in energy supply. The legal system is generally supportive towards companies with strong regulation and employment laws. Environmentally, SA is an international leader in tackling global warming. It has great potential for producing renewable energy but environmental hazards and heavy reliance on coal for energy should be taken into concern. An extensive PESTLE framework will be used to highlight the major contributing factors that would affect such a strategic move. Political Government Stability The present government, the African National Congress (ANC), has shown relative stability, winning four consecutive elections since the fall of the apartheid in 1994. This has allowed continuous implementation of policies through sixteen years in power, the focus of which has been on improving social integration and employment generation. Source: Datamonitor, Aug 2009 Struggles under Political Unrest Despite strong governance indicators, SA still has much to develop as a democracy. The government is kept under pressure from the rising power of trade unions and an inability to control violent demonstrations. The ANC has also suffered a decreasing share of the electorate vote since first coming into power, receiving 65.9% in the recent 2009 election. Although a near two-thirds majority, commentators argue this is below the important threshold of 66% that allows the party to unilaterally alter the constitution. Implication: Pressure from trade unions may cause wariness in future business investment and a loss in consumer confidence. Economical Corporate Tax Rate There is a basic corporate tax rate of 30.2% of profit for all companies1 as of 2010. Interest Rates The South African Reserve Bank is independent and operates in much the same way as Western central banks, influencing interest rates and controlling liquidity through its interest rates on funds provided to private sector banks.2 Exchange Rates and Trading Unlike other African countries, SA prides itself as an open economy, benefiting from trade liberalization with many blocs3Â  . However, it has been posting a negative balance of payments since 2002. As of 2008, SAs total exports amounted to $96.1 billion, which was considerably higher than the total export value recorded at $83.0 billion in 2007. This has been exacerbated by the surge in inflation since monetary policies implemented in 2000. Recently, inflation has slowed to 6.89% year-on-year in June 2009 from 8.0% y/y in May 2009.4 Implication: An open economy will facilitate the expansion immensely, meaning less red-tape and cost savings. A negative trade balance can be advantageous as it will weaken the exchange rate, lowering costs for our firm. The lowered inflation will also help stabilise the economy. Foreign Direct Investments FDIs are highly valued in SA and the government has further encouraged them through the US ACU Trade, Investment and Development Cooperative Agreement signed in July 2008. This places special attention on customs cooperation, technical barriers to trade and investment promotion.5 Implication: Increases in FDIs will greatly aid entry into the country as these policies will help facilitate external investments such as ours. GDP Trends The GDP growth rate has been less than ideal with a sharp fall in 2009. However it is projected to bounce by 2011 with constant increase in GDP since. The economy is dominated by the services sector, which contributes 65.3% of its total GDP in 2008. 6 Implication: The increase in GDP shows that SAs economy is continually developing and could be a beneficial environment for setting up a company. Socio-cultural Unemployment The apartheid regime has resulted in social aspects wrought with conflicts. Despite high literacy rates and policies to improve this by the ANC, unemployment remains surprisingly high at 24.9%1. Implication: This highlights an underlying problem, which is the severe lack of skilled labor that does much in hindering business growth. High Crime Rate SA also presents a relatively high crime rate. A survey compiled by the UN Office on Drugs and Crime2 ranked South Africa second for assault and murder per capita, and first for rapes per capita. Implication: This results in a potential threat to the safety of both our physical and human capital. Effects of HIV There is also a growing impact of HIV on the supply of skills and productivity. The graph below shows the sources of indirect cost on a firm due to HIV.3 Lack of Skilled Labour More commonly, educated workers are deciding to move abroad, contributing to the rising brain drain and lack of skilled labour. Although there is a net emigration of -0.13 migrant(s)/1,000 population (2009 est.)4 This is due to the an increasing flow of unskilled labour from neighbouring countries in search of better economic opportunities and does not contribute to the necessary labour force required for the growth of the nation. Implication: This lack of skilled labour will require huge cost on the company in training workers. Technological Infrastructure SA has some of the best transport infrastructure in the world, placed in the top 20 countries for number of airports, length of rail and length of roads1. In the past four years $6.95bn was invested into improving infrastructure. In the next three years capital investment is planned to be $7.52bn to increase capacity for the 2010 World Cup.2 56% of funding in 2009 was used to expand current operations and the remainder was used to upgrade existing infrastructure. Figure 1: Transport Infrastructure Investment (2009)3 Figure 2: Planned Transport Infrastructure Investment (2010)4 Implication: Improving transportation provides potential employees locally, nationally or internationally with reliable and convenient means of transport to the companys location. Energy The energy situation has much to improve with state-owned firm, Eskom, struggling to meet the demand caused by the post-apartheid economic boom5. The industrial sector uses 68% of the supply but it is estimated that savings of up to 60% can be made with low-cost investment6. Alternative means of energy are currently being looked into and Nuclear Power plants have been proposed and could be in place by 2020 if approved.7 Implication: Electricity supply is currently inconsistent but demand side management and planned expansion in the future should solve any problems. Communications Current services are not up to UK standards but broadband is becoming widespread with wireless available in some locations. Fibre-optic cables were laid under the Atlantic Ocean in 2009 by Seacom with the intention of providing high capacity bandwidth linking communities in Southern and East Africa, Europe, and South Asia.7 Implication: International communications are well catered for and services in cities are comparable with UK standards. Research and Development RD with respect to science and technology has been a growing area since 2002 with the Innovation Hub created in Pretoria. It claims to be the leading knowledge-intensive business cluster in South Africa8 creating a community focusing on innovation and knowledge creation. Implication: Locating in an area within the Innovation Hub could provide us with a pool of potential employees with the correct skills, education and backgrounds. Legal Labour Laws SA has strong labour laws especially after the creation of the Labour Relations Act 1995, created to allow consultation between employees and employers to remove discrimination and ensure a diverse labour force. Employment regulations include: Compulsory by law to abide by Minimum Wage guidelines set out by government. These levels vary from sector to sector. The South African Labour Legislation encourages the freedom of collective bargaining. Implication: Structured legal system in place which contains laws to aid our entry into the country. Labour laws are similar to those in which we already operate so only small adjustments are needed to current practices. Intellectual Property Rights SA is currently not a member of the Madrid Union so filing for international trademarks is more complex than most countries. However, they intend to join within the next year. Copyright can only be registered for films, but arises automatically by law under the Berne Convention and applies to all countries that are signatories of it.1 Patents cost between $915 and $1300 initially, with an annual renewal fee of around $130 beginning in year three.2 Patent Co-operation Treaties (PCTs) are available which provides 30 months of international protection in 135 countries. Implication: PCTs allow any costs of patents to be deferred until the domestic countries in which to obtain the patent can be more carefully selected. This additional time also increases the chances of a successful patent application. Starting a Business The process for business setup is as follows: Source: DoingBusiness.org, 2009 Environmental Leader in Climate Change Environmental developments and climate change are issues close to SA. Having hosted the World Summit on Sustainable Development in 20021, the country also follows the Kyoto Protocol and featured prominently at the Copenhagen Conference in 2009. Incumbent President Jacob Zuma has pushed for plans to continue with CO2 reduction of 42% by 2025.2 Implication: Good international relationships with countries such as USA and UK, as well as a reputation in protecting global environments. The Department of Environmental Affairs has also implemented policies to subsidise firms who use renewable energy resources. With the local demand for environmental protection and reassurance of safety from environmental hazards, there are huge incentives for firm to improve energy usages efficiency1. Energy Reserves South Africa heavily relies on coal production for energy, coal providing 88% of total primary energy and 90 % of electricity generation. However, the nation has notable renewable energy potentials3. The country has an overflowing wind resource and the highest levels of solar radiation in the world. The expansion of renewable energy in South Africa is maintained and upheld by the White Paper on Renewable Energy (Nov 2003), which aims to generate 10,000 GWH of renewable energy for final energy consumption by 2013. Implication: The government has actively supported energy production development although some environmental hazards may be detrimental to a suitable working environment. Conclusion Through use of the PESTLE framework, we can conclude that the macro climate of South Africa is generally positive with much potential for expansion. The main areas of weakness found will undoubtedly require further investigations by management. However, breaking into the countrys technology sector can be a success given that the company is fully aware of the obstacles involved.

Oakland, CA :: essays research papers

The Forgotten City This paper will discuss the many unique aspects of Oakland, California. Divided into five major parts, Oakland is a very diverse city. The five major parts include: Downtown Oakland which is located in the heart of the city, East Oakland which consists of the majority of the city, West Oakland, North Oakland, and the Oakland hills where the terrain is quite different from other parts of the city. While many may perceive the population to mainly consist of African Americans and Whites, there is a significant growing population of Latinos, and Asians. The topics covered in this paper will shed light on the city of Oakland itself, and discuss the unique city that it is. I will also give my personal experience and perception on the city, after living there for 16 years of my life. History In historical terms the city of Oakland was named after the many Oak trees that inhabited the land when the city was established. Oakland was first founded in 1852 and is located on the East side of the Bay Area in Northern California.(Oakland History) Native Americans had previously lived in the area for over 5 thousand years before many arrived for the Gold Rush, and put down their roots. The famous author Jack London also spent many of his earlier years in Oakland, and his works have said to have been influenced by the city. My personal perception of Oakland is that it has always been the forgotten city in the Bay Area. Almost no one would notice that famous actors Clint Eastwood, and Tom Hanks spent many of their childhood days in the city. Basketball future hall of famers Gary Payton and Jason Kidd also spent their childhood days there. Baseball hall of famers Reggie Jackson and Ricky Henderson still own homes in the city. In modern times Oakland is known as the main metropolitan city in the East Bay. The city possesses 3 professional sports teams, which have a population of just below 400,000. Oakland is also the 3rd largest metropolitan city in the Bay Area behind San Jose, and San Francisco.( Encyclopedia Britannica ) The city mayor is the ex Governor of California Jerry Brown. Located in Alameda County Oakland’s area consists of a total square mileage of 78.2 miles, of which 56.1 miles is land, and the latter consisting of water.( Encyclopedia Britannica ) Oakland also possesses the 3rd largest seaport on the west coast.

McDonald’s vs Burger King: Which is Healthier Essay

The United States has the largest fast food industry in the world, and American fast food restaurants are in over 100 countries. That alone tells you that millions of consumers partake in fast food. By definition, fast food is food that can be prepared and served very quickly. A typical fast food meal in the United States includes a hamburger, French fries, and a soft drink. Out of all of the fast food restaurants in the United States, there are two companies that comes to mind that are the biggest chains in the country. Those two fast food chains are Burger King and McDonald’s. These two companies own more than half of the fast food market in the U. S. With that said, in the past couple of years there has been concern over the obesity rate in the United States. People believe that fast food is a factor because of how easy it is to get it and the price range of it. Because of the perceptions of fast food, every one is looking to the biggest fast food chains to set the example and make their menus healthier. McDonald’s and Burger King are the two fast food chains trying to convert their menu to provide healthier foods, each in their own way. Before looking at the menus of both fast food chains, one has to understand the history. What made them who they are today? How was it created? When did it go public? The first restaurant is McDonald’s. In 1937, Patrick McDonald opened â€Å"The Airdome†, which was a food stand in Monrovia, California. Hamburgers were ten cents and all you can drink. In 1940, his two sons, Maurice and Richard, brought the food stand from their father and moved the entire operation 40 miles and changed the name to â€Å"McDonald’s Bar-B-Q† and served 25 barbecued items on their menu. In October 1948, the brothers realized that most of their profits came from selling hamburgers so they closed down the establishment. On December 12, 1948, the restaurant’s name was once again changed to â€Å"McDonald’s† and went to a menu of hamburgers, cheeseburgers, French fries, shakes, soft drinks, and apple pie. After 5 years of growing popularity and success the brothers decided to start franchising the restaurant. One year later, Ray Kroc, who sold Multi-mixer milkshakes machines, learned that one of the McDonald’s restaurants were using eight of his machines and he decided to take a look for himself. After meeting with the McDonald brothers, Kroc thought that they could franchise the restaurants throughout the country. The brothers did not think the same way so Kroc decided to take it upon himself to do so. By 1959, Kroc had 102 successful restaurants in the United States and by 1961 Kroc brought the business rights from the McDonald brothers for about three million dollars. Like McDonald’s, Burger King also has a long and rich history. It was founded in 1953 in Jacksonville, Florida as Insta-Burger King. Inspired by the McDonald brother’s original store location in San Bernardino, California, the founders and owners, Keith J. Kramer and his wife’s uncle Matthew Burns, began searching for a concept to open a new restaurant around. After purchasing the rights to two pieces of equipment called â€Å"Insta† machines, the two opened their first stores around a cooking device known as the Insta-Broiler. The Insta-Broiler over proved to be so successful at cooking burgers; they required all of their franchises to carry the device. With their new success in the way they cooked burgers, the company had rapidly expanded throughout the state of Florida until its operations totaled more than 40 locations in 1955. By 1961, Insta-Burger King ran into financial difficulties and the pair of McLamore and Edgarton purchased the national rights to the chain. It was rechristened as Burger King of Miami. The company would eventually become the Burger King Corporation and began selling territorial franchise licenses to private owners across the United States by 1961. As I stated in the beginning of my essay, I wanted to compare the two menus between Burger King and McDonald’s. Even though both restaurants are into selling hamburgers, how they are cooked and presented separate these two companies tremendously. For McDonald’s, they have added other items to their menu since the original restaurants opened back in 1948. They added a breakfast menu back in 1972 in which they sold certain breakfast sandwiches such as the McMuffin, which came in certain amounts of variations. There are also types of biscuits and breakfast burritos. Additional breakfast items include hotcakes, several breakfast platters with eggs, hash browns, and meats or breads. As you know, for lunch, McDonald’s serves many sandwich options such as the Quarter Pounder, the McDouble, which is the double cheeseburger, and chicken sandwiches, which they call a McChicken. The trademark sandwich for McDonald’s is called a Big Mac. It was introduced nationwide in 1968. It consists of two 100 percent beef patties, American cheese, â€Å"special sauce†, which is based off a Thousand Island dressing, iceberg lettuce, pickles, onions, and served in a three-part sesame seed bun. Other items on the menu consist of Chicken McNuggets, Chicken Selects, which is the McDonald’s version of chicken strips, Filet-O-Fish, and a McRib, the McDonald’s Rib Sandwich. Burger King’s menu predominantly consisted of hamburgers, French fries, soft drinks, milkshakes, and desserts. In 1978, the company introduced the first iteration of its breakfast menu. The breakfast menu remained almost identical to the McDonald’s offerings until 1983 when Burger King introduced its Croissan’Wich, which comes in many variations like the McDonald’s counterpart, McMuffin sandwich. For the lunch menu, there is little difference between the Burger King and McDonald’s Menu. The counterpart of McDonald’s Chicken McNuggets is called the BK Chicken Tenders, which made its debut in 1985. For Burger King, they have two trademark sandwiches. The first one is the counterpart of the McChicken, which Burger King calls the BK Original Chicken Sandwich. It made its debut in 1978. The other sandwich is called the Whopper. Introduced in 1957, it is one of the best known sandwiches in the fast food industry. The Whopper consists of a flame grilled quarter-pound beef patty, sesame seed bun, mayonnaise, lettuce, tomato, pickles, ketchup, and sliced onion. Now we get to the meat of the conversation. Both companies have been trying to add healthier choices to their menu for years now. For example, McDonald’s had to battle its public image as a purveyor of fatty, unhealthy food. Consumers began filling lawsuits contending that years of eating at McDonald’s had made them overweight. So in 2003, McDonald’s introduced a low calorie menu of low-calorie items and they also switched to more healthful cooking oil for the French fries. Burger king is no different to the criticism of their food. Since the 1980s, several parties, including the Center for Science in the Public Interest, the British Heart Foundation and the City of New York argued that Burger King has contributed to obesity and unhealthy eating behaviors in Western nations by producing products that contain large amounts of salt, fat, trans-fat, and calories. With that said, it is common knowledge that neither McDonald’s nor Burger King is the healthiest option if you are trying to maintain a healthy lifestyle. Let’s examine at the major items that both of these fast food chains provide and see which one is healthier. Starting with the French fries, a medium order from Burger King will make the customer consume 400 calories, 20 grams of fat, 43 grams of carbohydrates and 5 grams of protein. The same amount for McDonald’s will provide 20 calories, 7 grams of fat, 19 grams of carbohydrates, and 3 grams of protein less than Burger King’s French fries. So apparently McDonald’s wins in French Fries, for cheeseburgers, McDonald’s are not only lower in calories versus Burger King at 300 to 360, but also in fat and carbohydrates as well. They are also significantly higher in protein. Now for the main event, the Big Mac versus the Whopper, both of these burgers are the most popular menu item for both of these respected fast food chains. Which one is healthier? The Big Mac contains 540 calories, 29 grams of fat, 45 grams of carbohydrates and 25 grams of protein. The Whopper, on the other hand, contains 670 calories, 39 grams of fat, 51 grams of carbohydrates, and 27 grams of protein. So in other words, the Big Mac is Healthier. After looking at the other items that Burger King and McDonald’s provides head to head, Burger King has the edge in terms of its chicken products. Now the big question is who has the healthiest menu? To be honest, it depends on the menu item you choose to buy from either one of these food chains. If you want a good burger that will not do that much damage to your diet then McDonald’s is the way to go. If you are looking to eat a Chicken Sandwich, it looks like the Burger King should change their name. In conclusion, when asking the question of which fast food chain is healthier it is safe to say that there is no clear-cut answer. Even through McDonald’s, when looking at the nutritional stats of each item compared to Burger King, wins in the Burger section. We as consumers have to realize that â€Å"fast food† is not healthy in the first place. These two fast food chains have rich and interesting histories that contributed to how and what they sell to their customers. Each menu has been tweaked in order to fulfill the needs of the consumer over the years. Every consumer prefer to have their own method of buying items, so the best advice I can give is to do your own research beforehand. It is also important to show that you should limit the amount of fast food you eat on a regular basis in order to maintain a healthy lifestyle.

Native Americans & Christopher Columbus Essay

Indubitably, the acts made upon Indians for the sake of progress were atrocious. Brutal and cruel murders of millions of Indian peoples resound to this day. Their populations may never recover from such an incredible loss; the past can be ignored but never erased. However, we as Americans, celebrate Christopher Columbus day with joy. We think only of ‘The Founding of America’ and not by the means of which our country was constructed. To Indians everywhere this holiday is simply a remembrance of the murder, torture, rape, and enslavement of their people that last hundreds of years. So why do we celebrate such an insidious act? Because we justify the imposition of others for the sake of human progress. However is this tactic progressive at all? When Zinn writes â€Å"If there are necessary sacrifices to be made for human progress, is it not essential to hold to the principle that those to be sacrificed must make the decision themselves? † he is simply asking if there is something to be lost for the gain of progress, shouldn’t the ones who are to lose make the decision to be the â€Å"necessary sacrifice†. Indeed, I believe that if the imposed party were given the choice to either be sacrificed or not, for even the sake of progress, they would not be willing. Its basic human nature, self preservation, and so the majority of people, I feel would not be logically able to make such a choice. Therefore, yes, I do believe that until people as a whole are able to make peaceful resolution and keep their word, that necessary sacrifices must be made but with only with the heaviest of heart. No one can refute that the destruction of the Native Americans and their homes was a terrible time in history that should not be repeated. I feel the genocide of these Indians was necessary to get where we are as humans today. If the Spaniards and other conquerors had led peaceful resolutions the United States would neither function, nor geographically look the same as it does today. We cannot say what a peaceful relationship between foreigners and the Native Americans could have brought, for we did not experience it and must only rely on what we know. What we know is, though terrible, the deaths of those people have brought us to the modern face of America and all the technological advances that have been achieved with it. This should not be celebrated with holidays such as Christopher Columbus Day, for it was indeed only the beginning of mass extinction for the American Indian and should only be respected for the many souls that lost their life for the sake of â€Å"human progress†. From my perspective the Columbian exchange should be viewed in a negative light. This occurrence in history has most often had a positive connotation attached to it; however, the murder of millions should never be looked upon as a positive. Crops, animals, diseases and culture were traded among the Indians and foreigners. Many of which made the America’s desirable to be cultivated and populated. It is for these reasons that historians typically categorize this event as a positive instead of the damaging situation it was. History is as said, history. We cannot alter it to suite our present or future; however we can learn from it. Humans as a whole will continue on making mistakes, minor and major, tense and bloody but the Columbian Exchange has taught Americans that they cannot repeat his occurrence in any shape form or fashion. Peaceful resolution should be met if possible, if not reached, then may with the most apprehension and fear, should war be approached. Native American numbers may never recover but we will no longer make them suffer.

THEATRE CH Essay

THEATRE CH Essay THEATRE CH Essay Theatre is a form of art that places actors before a group of people in an act of engagement and discovery about life Theatrical performances have taken place for thousands of years and in all world cultures with few exceptions. The great societies of Europe, China and India first nurtured theatre as a means of gathering citizens together to celebrate civic accomplishments, warn of personal errors, or ridicule society’s fools. Because of that, ancient civilizations in the East and West created dramatic art and stage traditions lasting centuries. Immediacy and presence have set theatrical art apart from other forms of art. Actors present themselves to their audience in a story involving intensely personal aspects of human behavior. Theatre has been defined as a way of seeing men and women in action, observing what they do and why, and the results of their actions. It can be said that theatre is an immediate way of experiencing what it means to be human. Thornton Wilder’s, The Match Maker is an example of how theatre engages actors in a very human story about true love. In his play it shows the course of true love failing to run smoothly because their elders did not approve but went over their heads and saw each other anyway. Theatres living quality- it’s immediacy, aliveness, spaces and spectators. Theatre is different from T.V, films, etc. is the live interaction of the physical presence audience and actors. The Lion King, The Wicked, and The Addams Family are all examples of diversion from serious events like civil unrest and unfolding wars. A theatrical event is restricted to a fixed number of seats in a single building. In New York or London playhouses seat approximately 700-2,000 people nightly. In contrast to the interactivity of digital media, theatre engages us in an active and kinetic physical construction of behavior and meaning. Theatre cannot be replicated in another medium, once the performance ends it is gone forever. What’s unique and disheartening is that theatre is being lost to future generations. Theatre’s living quality on both sides of the â€Å"footlights† sets it apart from its popular mass media competitors. Theatre parallels life- representing our humanness in an imitation of human truths and realities. Theatre is â€Å"alive† as actors tell a story in immediate communion with its audience. Film and theatre are equally convincing in their story telling powers, but their modes of presentation are vastly different. 6 ESSENTIAL PARALLELS: Actors - Humanity Simulation - Reality Rehearsal - Discovery Improvisation - Spontaneity Stage - World Audiences - Society At all times in theatre there is doubleness. The actors are human beings representing the playwright’s imaginative expression of our humanity and the human condition; the stage is a platform that convinces us it’s another world. Theatre’s doubleness- art mirroring life, and life mirroring art- is another special quality of this complex art. Doubleness reflects a sense of life lived on stage during a theatrical experience. The audience experiences the actor both as actor- the living presence of another being- and fictional character. The Elizabethan idea of the stage as a mirror, related as it is to the act of seeing, can help understand the dynamics of theatre and its aesthetics. As reflected in the mirror, our humanity has shape, color, form, attitude and emotion; it is even capable of movement within the limits of the mirror’s frame. It is both a stage world and an illusion of a real world. Theatre is life’s double, it is a selected reflection organized into stories and fictions about events and people to tell us something about our humanity. Theatre creates illusion, as we watch, that we are sharing an experience with others for the first time. In theatre we both believe in what is happening before us (â€Å"suspend our disbelief,† as the poet Coleridge said) and disbelieve in the stage-world before us. The word

Change Strategy within a Specific Organizational Frame Term Paper

Change Strategy within a Specific Organizational Frame - Term Paper Example It was revealed in 2013 that Tesco’s beef burgers had at least 30% of horse meat, which led the organization to make a statement to the effect that its customers had been betrayed by the company’s suppliers, promising to get to the bottom of the scandal (bbc.com, 2013). In effect, the company promised to uncover what had happened, to get back to its customers with an explanation, and to work harder to ensure that such a problem never occurred again (Meikle & Lawrence, 2013). Moreover, Tesco also promised to refund customers who still had the contaminated food in their houses in full. In relation to Tesco’s current threatening issue, an urgent change is required. To begin with, all the products from the identified supplier must be withdrawn from sale immediately, which requires the company’s staff to be urgently involved in the process of elimination. In addition, the company has to rescue its reputation with consumers in the market place, which requires a long term strategy of change to influence consumers. For instance, Tesco could entirely stop selling meat products before bringing back their meat sales gradually with highly regarded suppliers (Morris, 2014). There are four main frames under which an organization’s change can be framed, which are structural, political, human resources, and symbolic. Pollack and Pollack (2014) note that organizations operate simultaneously at all times on the four levels, and that addressing a problem in the organization may require an organization to pay special attention to one frame, while the other frames remain strong and functional. In Tesco’s case, the structural frame will be the main frame used, specifically because of its image of the organization as a rational machine system. In addition, this frame also reinforces the critical nature of creating structural forms that are aligned to the goals, environment, technology, and task of the

Advanced Writing for Marketing Essay Example | Topics and Well Written Essays - 1000 words

Advanced Writing for Marketing - Essay Example The document helps the President improve job performance evaluation, in terms of sale manager’s performance. The document is intended to replace the current job evaluation rubric, in terms of the manager’s job benchmarks. The document explains the superiority of the proposed annual report-based benchmark over the current attendance based criteria. It is highly recommended that that annual report, income statement, replace the current job performance benchmark (Weaver 2007 293). The current benchmark pales in comparison with the proposed annual report rubric. The income statement is used by most business entities as job performance yardstick. Judging from the use of the income statement as the standard global criteria, it is highly recommended that you, my president friend, follow suit. Further, implementing your current attendance-based criteria is understandable. You are reducing the manager’s job responsibilities. The human resource department is tasked with collection the attendance reports of the managers. All the managers have to do is to â€Å"time in† by swiping one’s identification card through the attendance machine. When the manager leaves the office, all the manager has to do is to â€Å"log out†. Logging out is done by swiping one’s identification card through the time recording machine strategically located near the entrance / exit pathways. The human resource department presents the attendance report to you, President, indicating your sales managers’ tardiness report. Furthermore, this is comprehensible. Your current impression of the best employee is one who is devoted to one’s job. A loyal employee will normally reduce absences and tardiness to allowable levels. Your company allows excused absences on reasonable ground. Reasonable grounds include unexpected traffic from home to the work area, hurricanes, earthquakes, and other reasonable causes. Lastly, labor law regulations allow absences your employee is

School violence Essay Example | Topics and Well Written Essays - 1000 words

School violence - Essay Example To start with, single parents have increased tremendously. There many different studies that use single parents to demonstrate the effects children have of not being exposed to both a maternal and paternal figure. However, single parents are not just people whose spouses have passed away and the family is left to cope with the loss. Single parents can be divorcee, widowed, or have never even been married. Not being exposed to a paternal and maternal figure can lead to many mental disturbances, provoking violent and unacceptable behavior. On 22nd March of 2005, a 17 year old Jeff Weise terrorized the Minnesota school. It was one of the worst school shootouts recorded in history. A few students were injured but more horrifying was the fact that some students had actually lost their lives. Jeff Weise had also shot himself after a shootout with the police ("Massacre in Minnesota"). Before coming to school, Jeff had shot his grandfather and his grandfather's 32-year-old girlfriend. Jeff was categorized by his schoolmates as antisocial. No doubt, Jeff himself had lived a rather depressing life. His father committed suicide four years back and his mother got into an auto accident which placed her in the nursery. Jeff was living with his grandfather who was on the force. This kind of absurdity exists because certain kids are lacking the attention they need. In Jeff's case, he was lacking a lot of attention. After his father committed suicide, when Jeff was only thirteen-years-old, Jeff had most probably not been able to ful ly cope and recover from that traumatic experience. In a Psychology article by Lawrence J. Walker, this kind of behavior is called as an outcry for help (Walker 1997). When kids do not get the attention they crave, no other choice is left but to resort to negative attention. The negative attention is the only way these kids get any attention at all. The more parents neglect their children or fail to understand what it is that their children want, the higher are the chances that these children will join the wrong crowd and try getting negative attention. Another way single parents are contributing to the lack of attention given to the children is by giving in to the children's demands. Propaganda in advertising is targeted for these children of single parents. When a child sees the big yellow M sign and the happy smiling face of Ronald, they usually scream with delight, "McDonald!" It is difficult for a single parent to refuse to the demands their child is making. This is not just because the parent is showing affection, but rather because by refusing the child, the parent will have to deal with a lot of fuss and tantrums that is timing consuming. And time is one thing that single parents really do not have. This leads to the child maintaining a habit of unhealthy food and even worse, of getting anything it desires. The child from an early age has learned be assertive. This is a good quality as being opposed to having a low self-esteem, but in some cases, this kind of assertiveness reappears as the child goes to school and bullies t he other children. The purpose of this paper is of course not to bash single parents but rather to show that some single parents are not giving their children the attention the child needs. Another way single

Terms Comparison Paper Essay Example for Free

Terms Comparison Paper Essay Within the world of health care economics, the United States â€Å"for-profit† health care system, strife with inflated costs and barriers to access, is in a process of reform. Rising insurance premiums, capitation, and market competition that discourage the consumption of unnecessary services currently reward providers for their focus on acute, episodic treatments, rather than encouraging improved health outcomes or disease prevention. The supplier-induced market has forced medical providers to base treatment recommendations on economic necessity. Complex billing and insurance operations have caused administrative costs to skyrocket. The Affordable Care Act (ACA) aims to correct these inefficiencies by reducing personal health care costs, improving community health, and increasing access to quality care. The following discussion will examine the interplay of capital resources, Meaningful Use, and financial incentives within the world of health care economics and system reform. Capital Resources Capital resources refer to assets used by a health care organization that facilitate the delivery of services. As the United States’ health care system evolves from an institution dependent on the acquisition of revenues from hospital admissions and procedures to one focused on managing health and wellness, the careful utilization and deployment of capital resources is critical to economic growth. Computer programs are a beneficial capital resource that supports the practice of medicine, such as computerized order entry or clinical decision support systems. For example, a computerized order entry system reduces the duplication of diagnostic testing while clinical decision support systems help providers manage chronic conditions. Industry experts agree the adoption of health care information technology (HIT) is necessary for improving quality and efficiency, although, as of 2006, only 12% of physicians and 11% of hospitals invested in technological improvements to their capital resources (Congress, 2008). Meaningful Use Meaningful Use refers to standards of quality demonstrated when using electronic health records (EHR) to deliver services. Traditionally, quality improvement initiatives evaluated services on a case-by-case basis; for example, was a procedure performed properly, were there complications, was  the patient satisfied, and was the provider properly trained? The ACA’s movement towards health care reform expands the focus on reducing individual errors to addressing system performance and community health. Through data capture and sharing, health care organizations gain the ability to use this information to analyze and advance clinical processes. For instance, through the aggregation of real-time patient data early warning systems can reduce medical emergencies, transitions to intensive care, and mortality rates. Even though the ACA does not mandate the adoption and Meaningful Use of EHRs, after 2015, all Medicare providers not participating in the EHR incentive program may be sub ject to financial penalties (Impact, 2012). Financial Incentives Financial incentives refer to monetary rewards and penalties offered to health providers for creating a stronger primary care system that expands access, provides improved quality, and delivers better health results. Under the current fee-for-service system, providers do not receive payments for time spent with a patient discussing medical histories, alternative treatment options, concerns, between visit follow-ups, or even care coordination and management; instead, reimbursements occur through procedures, such as surgeries or diagnostic testing. Under ACA, primary care physicians receive a temporary increase in both Medicare and Medicaid payments. Financial incentives are also available for providers who encourage their patients to obtain preventative care services and for patients, through the elimination of coinsurance, deductibles, and copayments for approved preventative services and tests, such as blood pressure and cancer screenings. Moreover, the ACA Medicaid expansion will p rovide over 32 million people with health coverage, resulting in improved health and less uncompensated care (Abrams, Nuzum, Mika, Lawlor, 2011). Discussion Within the world of health care economics, access to health care services becomes restricted through a fee-for-service model that authorizes third-party payers to prioritize reimbursements for the delivery of acute, episodic treatment over preventative care and wellness. As purchasers, patients have little ability to evaluate the quality of services received or  negotiate fair prices. The ACA serves as an advocate, shifting the focus of the health care system from personal health to community health. As part of this initiative, providers receive financial rewards for investing in technological improvements, such as EHR adoption. Through the development of a national HIT infrastructure, capital resource investments enable data capture and sharing. When combined with Meaningful Use incentives, providers receive encouragement to create real-time monitoring solutions to improve health and reduce costs. Together, the ACA offers a path where primary care providers have the means to devel op a stronger health care system that provides expanded access, improved quality, and increased wellness. Conclusion The United States â€Å"for-profit† health care system, conflicted with inflated costs and barriers to access, is in a process of reform. The ACA aims to correct these market failures by reducing costs, improving health, and increasing access to quality care. The change in focus from reducing clinical errors to addressing system performance and community health is an essential aim of the ACA. Through the adoption of HIT, health care providers strengthen their capital resources and increase their ability to deliver quality, cost-effective care. Once adopted, Meaningful Use incentivizes the use of community health data to establish real-time monitoring programs that detect the need for medical intervention. The ACA offers several economic initiatives to encourage providers to evolve from a for-profit mentality to one focused on health and wellness. The economics behind health care reform will redefine health care demands and the types of services delivered. Over time, the focus on preventative care and wellness will reduce the demand for costly treatments, lowering national health care costs. References Congress of the United States, Congressional Budget Office. (2008). Evidence on the costs and benefits of health information technology (2976). Retrieved from website: http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/91xx/doc9168/05-20-healthit.pdf Impact Advisors. (2012). Meaningful use stage 2: Understanding timing and penalties. Retrieved from website: http://www.impact-advisors.com/assets/news/document/ IA_Primer_on_MU_Stage_2_Timing_and_Penalties.pdf Abrams, M., Nuzum, R., Mika, S., Lawlor, G. (2011). Realizing health reform’s potential. The Commonwealth Fund. Retrieved from http://www.commonwealthfund.org/~/media/Files/ Publications/Issue%20Brief/2011/Jan/1466_Abrams_how_ACA_will_strengthen_primary_care_reform_brief_v3.pdf

EU Economic And Monetary Policy Case Of Spain

EU Economic And Monetary Policy Case Of Spain This research paper aims to discuss how the EU has influenced economic and monetary policies of Spain and vice versa. This dual relationship is of utmost importance as we look at the costs and benefits the EMU has brought to Spain and the possibility of the long-standing inflation problem in Spain affecting EUs monetary policies. EU membership has undoubtedly largely influenced the economic policies and conditions of Spain. For example, Spains accession in 1986 forced the government and economic elites to adopt the necessary policies to embark on economic modernization. In addition, the European Monetary Union (EMU) Maastricht Treaty criteria resulted in Spain having to implement micro and macroeconomic policies like fiscal consolidation, central bank independence and wage moderation (Royo, 2006). Also, the current Greek debt crisis has also thrown the spotlight on Spain which is also undergoing a crisis of itself: competitiveness crisis. With this crisis in mind, it is highly unlike ly but still possible that EU might either choose to expel Spain from the euro area or undergo a series of policy reforms to deal with this crisis. This research paper will begin with an introduction of Spains accession into the EU, followed by the costs and benefits Spain experienced from complying with the EMU Maastricht Treaty. This will be followed by an investigation on the competitiveness crisis in Spain and its influence on the EU. Lastly, this paper will have a discussion on the possible economic and structural reforms that both Spain and EU should undertake to smoothen EU integration for both parties. Spains accession into the EU Before accession into the EU, Spains economy was of a protectionist nature. It remained largely outside the international economic trading area. However in the 1980s, Spain decided to integrate with Western Europe, and was enthusiastic in accommodating to the EC trade customs and rules in order to secure accession. Spain joined the EMU because it was economically beneficial then as the majority of Spains trading partners are in the EU. On January 1986, Spain joined the European community as a full member. Spain was a firm supporter of the European and Monetary Union from the very beginning and rushed to be a part of the European Monetary System (EMS) in 1989 (Sebastian Royo, 2003). The European Monetary Union was established with the purpose of creating and improves trade among European countries. Based on the accession agreement, the taxation policy of Spain was transformed dramatically. Firstly, Spain had to gradually remove custom duties as well as industrial tariffs on EC goods (US Library of Congress). Spains tax rebate on exports had to be removed too. In addition, Spain had to impose a value-added tax (VAT) which had affected Spain negatively in the 1980s. For instance, the introduction of VAT makes Spain a more expensive destination for inbound visitors/tourists and this will affect the Spanish tourism industry. 2.1 Implications of European financial integration on Spain More importantly, membership in the Economic Monetary Union has many implications on Spains domestic economic policies. This is because Spain now loses control of monetary and exchange rate polices to fix problems in its economy and have to rely on the EMUs monetary policy instead. The EMU is tasked with the objective to conduct policies to ensure and achieve stability and growth in the Euro zone (Trichet, 2005). European financial integration kick-started a series of reforms aimed at liberalizing and modernizing the Spanish economy. Accession to ERM and then EMU membership resulted in the reform of the tax system. This reform of the Spanish tax system includes the introduction of VAT as well as a reduction of import duties. This was accompanied by a fiscal consolidation process (reducing government budget and debt deficits). Membership in the EU which resulted in European financial integration has both positive effects and negative effects on the economy. The general consensus is that the economic outcome for Spains membership is still largely positive. For example, gross domestic product per capital (GDP) increased significantly from 1985 and 2005 (Elcano Royal Institute European Parliament Office in Spain, 2006). The Spanish economy has also enjoyed growth since accession. Furthermore Spain has received a large amount of funds since accession and has made use of these funds to finance regional cohesion projects and develop infrastructures to modernise the economy. In addition, with greater exchange rate stability, imports of goods and services in Spain rose significantly and thus there was a greater degree of openness in the Spanish economy. However there remain major differences in economic development between Spain and the leading economies in the EU. Financial integration due to EMU was not totally smooth-sailing for Spain. The financial integration, which resulted in industrial restricting, has adverse effects on the economy in the early 1980: it resulted in high unemployment. In addition, the 1992 EMS crisis was traumatic for Spain. The 1992 crisis originated from an increase in government spending in Germany. This coupled with contractionary monetary policy led to increase in interest rates which affected the rest of the members of the EMU. The result was a sharp decline in the growth rate of real GDP and Spain having to devalue thrice. Many jobs in Spain were lost in the crisis. Fortunately these effects were cushioned somewhat by an economic boom in Spain, the continuing fall in oil prices and large inflow of foreign direct investment into Spain as many foreign companies seek to grab a slice of Spains expanding consumer market (US Library of Congress). Therefore for Spain to seize the benefits of EU membership and enjoy economic growth as well as low inflation, it has to push forward its structural reforms as well undertake sound fiscal policies. Spain till now has succeeded in conducting sound fiscal policies. However its inherent problem of high inflation continues to threaten its competitiveness and hence its trade balance. This has not been resolved quickly partially because of complacency due to its early economic success in the EU (Royo, 2006). European financial integration of the EU which entails efficient free movement of capital, commitment to exchange rate stability as well as harmonization of capital taxes have many positive implications on the Spanish macroeconomic policies. One benefit is that free movement of capital results in a decrease in financial costs for companies and thus allowing companies to raise more resources. However European financial integration has its drawbacks too for Spain. For instance, such commitments come into conflict with the aim of the Spanish government to reduce inflation as such commitments tend to result in lower interest rates thus raising inflation rates. Nevertheless, EU membership has contributed to some extent in lowering inflation in Spain. The introduction of the Euro and the European Central Bank (ECB), have considerable success in limiting price increases. The ECBs main aim of its monetary policy is to keep inflation of those in the euro zone under control and achieves this b y raising interest rates. The ECB therefore sets long-term interest rates for all the EMU countries. Since entering the EMU and participating in the single currency, Euro, the Spanish economy has transformed in a starkly different manner as compared to its counterparts in the EU. Spains economic growth in terms of GDP and inflation rate has been significantly higher than the other member states in the EU (Andres, Hurtado, Ortega, Thomas, 2009). These differentials particularly the inflation differential is most probably caused by the convergence and the integration of foreign markets. In fact, the surrendering of a nations right to pursue autonomous monetary policy as a result of complying with EMU and ECB is one reason why Spain has problems reducing her traditionally high inflation rate. Therefore this is perhaps the reason why Spain is powerless to use initiatives like setting interest rates to control inflation. As mentioned previously, one of the most significant implications of EMU membership for Spain was the convergence of interest rates which resulted in extremely low interest rates in Spain. (Royo, 2006). The drastic decline of interest rates in Spain was necessary in order to secure entry into the EMU. In fact, this convergence of interest rates as a result of EMU membership has an indirect effect on Spains current account trade deficit. Low interest rates led to an explosion of credit and mortgages. This raises houses prices. Low interest rates cause savings to decrease and thus the saving rate is insufficient to finance investment projects, resulting in the private sector having a large trade deficit. Low interest rates also result in excess demand and leading to high goods and wage inflation. Therefore, although membership in the EU served as a primary trigger for the Spain to embark on liberalizing the economy and has largely improved trade, it also contributes to problems regarding Spains trade balance. This is because most of Spains trade partners (countries which Spain exports her products to) are in the EU. (Royo, 2006)This coupled with rising GDP, which increased at a faster rate than exports, resulted in a growing current account deficit. It is important to note that the high inflation problems and the rising current account deficit took place in a setting of fiscal stability (Ubide, 2007). Once again, membership in the EU has resulted in Spain having a lack of monetary and cyclical tools to achieve fiscal surplus and control rising inflation. Having the national currency in a fixed exchange rate due to the EMS thus caused Spain being unable to resolve these economic problems. In other words, if Spain is not a member of the EU and do not participate in the single currency, Euro, she could have devalue her currency with respect to other currencies and improve its competiveness of its exports, and thus improve her trade balance. 3.1 The Competiveness Crisis in Spain The Greek debt crisis has put the spotlight on the peripheral member states of the EU especially Spain. However Spain is undergoing another crisis which of a different nature as compared to Greece. Spains crisis is not due to a lack of budgetary discipline, but caused by the boom in domestic credit (due to convergence in interest rates in the EU). The membership in the EMU can be attributed to the boom in domestic credit leading to the construction boom in Spain. EMU reduced the cost of borrowing for households as real interest rates for households fall substantially. This is due to the reduction in the risk premium as a result of EMU membership. Therefore, reduced cost of borrowing for households led to an increased in number of houses built and thus a boom in the construction industry. The construction boom in the private sector was accompanied by poor economic performance in the other sectors; this resulted in instability as well as trade imbalance. From the late 1990s to 2007, Spain has displayed poor international cost competitiveness (as compared to the rest of the EU members) as a result a significant increase in cost of production especially in the tradable goods sector (Marzinotto, 2010).This significant increase in cost of production is caused by Spains real estate investment boom. Other factors that contributed to poor international cost competitiveness include wage indexation to past high inflation and extension of wages which are agreed at industry level (Marzinotto, 2010). In the 19809s, Spanish firms were facing intense competition from Latin America and the Far East on products like clothing, textile which are Spains main exports. These countries from the Far East and Latin America have leverage on Spain because they are able to produce these goods far cheaper than Spain due to their low wages (Royo, 2006). As a result, Spain is often overlooked by foreign investors who chose to set their operations in these countries instead. This situation worsened when the enlargement of the European Union to the central and eastern European countries materialized. This is because Spain has to deal with new competition from new members on industries which are labor-intensive which form the bulk of Spanish trade. This further affect the trade balance of Spain because these new members also are able to exploit their low wages thus are able to produce cheaper exports as compared to EU. It is a tough obstacle for Spain to resolve the resulting current account deficit because such trade imbalance exists independent of any utilization of sound fiscal policies. This is not only an important issue for Spain but also has an important influence on the EU. This is because the poor international competitiveness of Spain will affect the stability of the Euro too. 3.2 Spains crisis and its implications on the EMU Based on the current competiveness crisis of Spain, one of the unlikely options for Spain is to exit from the euro area. However such an option begs another central question: is a euro exit possible and how will the credibility of the euro being affected? Firstly, the credibility of the euro is unlikely to be threatened if countries like Spain and Greece exit from the euro zone. However in an event of a Spanish exit from the euro zone, it will lead to other troubled nations pondering over similar departures and such spill over effects will create an uncertain environment which is not conducive for further European financial integration. Nevertheless, such concerns may be redundant because the chances of Spain exiting the euro zone or any other member state doing likewise is extremely unlikely because of the difficulty in doing so. One important barrier to exit is the financial integration between the members of the EU has reached a significant degree thus cross-border assets are very high. Therefore an exit will result in massive upheaval (Willams, 2009). Of course there will be benefits for Spain to leave the euro as it implies regaining autonomy in pursuing independent monetary policy as well as exchange rate flexibility. However, the costs of withdrawal are high too. For instance, there will be a cut in access to finance as well as a sharp increase in funding costs due to a removal of funding by the EMU as a result of withdrawal. This thus suggest a likely situation where Spain will remain in the euro zone and attempt to deflate its housing boom without the use of independent monetary policy or currency devaluation. This crisis has wide implications on the EU. The EU cannot and will not hang these struggling economies out to dry. Therefore to fix the competiveness crisis in Spain, there is a need for the EU to make some changes or introduce some frameworks. One possible way in which the EU can manage this crisis is to introduce a system to monitor wage and price developments (Marzinotto, 2010). This is not exactly a novel avenue which the EU has not implemented before. One of the requirements of the Exchange Rate Mechanisms ERM (before the introduction of the euro) was that no member country could change its nominal exchange rate without the consent of the others due to its effects on competitiveness. This is not the case now. Member states can now change its real exchange rates via VAT increases and cuts in social security contributions (Marzinotto, 2010). Therefore in this avenue, the EU should regularly monitor the real exchange rates in the euro zone and should introduce initiatives whenever economic developments pose a threat to the stability and the operation of the EMU. In addition this European competiveness monitoring framework (Marzinotto, 2010) should have a euro-wide perspective and focus as Spains current account deficit means a surplus for another country. Therefore in the event of necessary adjustments, the EMU must take into consideration both the interests of the deficit and surplus member states. In addition to a monitoring framework, there should also be an alert procedure (Marzinotto, 2010)that will have an assessment whenever fluctuations in a countrys current account deficit exceed the predefined limits. In the alert procedure, the country that has flouted the predetermined limits will be assessed based on its efforts to correct this problem. If the assessment is negative, the commission will then propose initiatives to solve the problem based on a euro-wide focus. Nevertheless, despite these recommendations to help Spain and other similar countries to solve such competiveness crisis, the onus is for these countries to make a concerted effort to resolve it via national efforts. The Spanish government should implement a national competiveness monitoring framework (Marzinotto, 2010). This framework includes utilizing a range of policies for remedial action. However this will not be any easy task due to obligations to the EU. Policies that Spain is hindered from using due to euro membership include encouraging inward investment by offering tax incentives and cheap loans to investors as well as devaluation. Therefore there seems to be only supply-side policies which Spain can use to remedy the crisis. Supply-side policies are favourable because an improvement in supply-side performance tends to lead to sustained economic growth without a rise in inflation rate, ceteris paribus. However, a good supply-side performance alone is not sufficient and mus t be accompanied by a sufficiently high level of aggregate demand so the productive capacity of the economy can be utilized. The Spanish government can encourage an entrepreneurial culture by providing regional policy assistance for entrepreneurs and also helping these firms with regards to access to knowledge and advice. In addition, although Spain has managed to maintain a sound fiscal policy, it has not fully utilized the fiscal policy to deflate the housing boom. Spain can modify the tax treatments of interest payments on house loans to cool the domestic housing market. With higher cost of capital, the disposable income of a household will be affected thus leading to a reduction in excess housing demand. In fact Ireland has demonstrated that raising the cost of capital of households can be achieved by removing interest relief on mortgage interest payments, (Gerald, 2004) is possible within the EMU. This goes to show that the loss of independent monetary policy (as a result of EMU membership) to correct the crisis cannot be an excuse for failure. This is because a well targeted fiscal policy can be used effectively to reduce excess demand in the housing market. However such measures undertaken by the Spanish government may not be popular with the Spanish public. 3.3 Efforts by the Spanish government Spanish government launched the National Reform Program (OECD, 2007) in 2005 to identify challenges to the economy (as a result of indirect implications of EMU membership) and propose initiatives to solve these problems. Despite the intentions of the program, it has not been very successful in meeting the challenges. In addition, the tightening by the European Central Bank has not managed to cool the domestic demand in Spain by a small degree. Furthermore, although the housing market in Spain has showed some signs in slowing down, residential investment continue to form a significant part of Spains GDP and house prices are still steadily increasing (OECD, 2007). Industry productivity has not improved significantly thus inflation differential still persist between Spain and the rest of the euro zone members. As compared to other members of the euro zone, Spain has embarked on a fiscal consolidation policy with a more concerted effort. This is because of a need to counterbalance the effects of the current loose monetary policy conditions. Although ECB raised the interest rates in 2007, it had limited success in cooling the domestic demand in Spain. This is partially due to tax reductions on households which increase the households disposable income. Therefore Spain should continue or even enhance its restrictive fiscal stance to reduce pressure on the domestic demand. The Spanish government has also attempted to develop the rental housing market. However it has met with limited success. Therefore, it will be better to gradually phase away any forms of assistance which home owners can receive in order to balance the incentives between renting and purchasing and moderate demand pressures. (OECD, 2007). Another measure is to improve the legal security of relations between owners and tenants so as to improve the use of the housing stock (OECD, 2007). With the gradual decrease in EU transfers to Spain as a result of enlargement, there is an increasing need to have and manage the government budget effectively. The Spanish government has recognized this need and have adopted reforms to improve the management of the government expenditure and resources. The Spanish government limited the growth of government expenditure to below the projected rise in nominal GDP and also used tax revenue to reduce indebtedness (OECD, 2007). The government has also increased the accountability and responsibility of regions regarding their expenditure. This is achieved via increasing the control the regions have over the taxes imposed on their specific regions. This will have the effect of reducing the reliance by these regions on the central government for transfers. Therefore this delegation of responsibility will also enhance the regions revenue raising powers. However there are problems associated with such decentralization, there may be loss of in formation thus affecting efficiency. Therefore there have to be an independent agency to monitor and evaluate the polices of the various government agencies of the respective regions (OECD, 2007). In addition such assessments have to be transparent to the Spanish public. The Spainish government has also reformed the 2003 Fiscal Stability Law (OECD, 2007)in order to maintain fiscal stability and prudence in a decentralised system. According to the 2003 Fiscal Stability Law, each level of the government has to ensure that its accounts are permanenty in balance. In addition, the law assessed the cyclical position of the Spanish economy by monitoring its expected growth rate against it potential. Although this law seems has a great influence on maintaining fiscal stability, the government must execute this law with caution to prevent a situation of a pro-cyclical budgetary outcome where a loose fiscal stance is adopted when times are good and a restrictive fiscal stance when times are bad. Conclusion Since accession into the EU in 1986, Spain has enjoyed a positive economic growth. In addition, EU transfers had also allowed Spain to modernise and develop its economy as well as infrastructure. Although the financial integration process was difficult for Spain with the introduction of VAT and other measures, Spain accommodated its national policies to secure entry into the EMU. Despite Spain maintaining an environment of fiscal stability, the high inflation differerntial between Spain and the rest of the euro zone members threatens to harm Spains international competitiveness. This competition crisis can be partially attributed to the low interest rates set by the EMU thus leading to domestic credit boom and hence excess demand in the housing market. This is a central issue for both the EU and Spain as it has wide implications for both parties. Therefore it is likely that EUs economic policies and framework will be modified to include initiatives like a monitoring framework to mana ge the Spains crisis or other similar crisis by other member states in the future. In addition, although Spain is tied by its obligations to the EMU (which include not being able to devalue its exchange rate or pursuing an independent monetary policy to deflate its booming housing market), there are some supply-side policies and national reforms that Spain can pursue to reduce inflation. Lastly, remedial action by both the EU and Spain will invariably have implications on each other as well on the rest of Europe.