Google lnc.-Earnings Announcements and Information Environment Assignment

Google lnc.-Earnings Announcements and Information Environment - Assignment Example As a matter of fact, earnings numbers clearly bear a significant impact on valuations of public market. While per share earnings calculations are straight forward, corporations frequently report â€Å"pro forma† EPS numbers. Valuations based on pro forma numbers against GAAP EPS numbers potentially translate into significant valuation changes. Pro forma earnings are non-GAAP and exclude items like restructuring charges, asset impairment charges, losses on asset and businesses sales, goodwill amortization, as well as equity method investments losses (Burns, 2009). It is widely claimed that pro forma numbers are net of â€Å"items deemed as non-reoccurring, non-cash or unimportant,† and hence pro forma numbers portray a realistic picture of their potential and value. ii. It is widely held that Pro Forma Analysis gives investors a clearer picture of company operations. As a matter of fact, they are believed to offer more accurate view of financial performance and outlook due to the nature of businesses. For instance, a firm like a cable and telecommunication company will prefer Pro Forma analysis because constantly makes operating profits by writing down depreciation costs. In essence, investors concerned with long-term company valuation can do well by analyzing pro-forma earnings. Additionally, pro forma analysis allows companies to identify their core value drivers, in addition to analyzing the changing trends within operations. iii. In January, 2003 SEC instituted a final rule through  §401(b) the Sarbanes-Oxley Act of 2002 (SOA) with regard to use of â€Å"pro forma† financial analysis in information on SEC filings as well as other public disclosures. According to the rules, all companies that provide pro forma must accompany the same with corresponding or equivalent GAAP measures (Burns, 2009). This is to allow industry comparability, in addition to standardization for

Final global business plan Essay Example for Free

Final global business plan Essay The ASEAN was founded in 1967 to promote the alliances of the countries in Southeast Asia. The current members of the ASEAN are the Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Indonesia, Singapore, Thailand, and Vietnam (ASEAN, 2010) Physical Environment The physical environment of Southeast Asia is primarily a warm climate other than the high elevation areas (Andaya, 2009). The physical environment also differs from the ocean and jungle geographical areas. A primary concern within the physical environment is the availability of safe drinking water in many areas of Southeast Asia and the air quality. Political Stability The political stability within Southwest Asia is very questionable in many areas of the region due to the terrorist activities; however with the support of the U.S. and other countries the threat is reduced just not eliminated. A scoring system was used to evaluate the region based on data that was provided by AMB Country Risk Reports. The rating system is; One Very Low Risk, two Low Risk, three Moderate Risk, four High Risk, and five -Very High Risk. The country leads the region with are risk score of one is Singapore followed by Indonesia two, Malaysia and Thailand three, Philippines and Viet Nam 4. The Philippines and Viet Nam have significant political risks that need to be taken into consideration (A.M. Best, 2010). Economic Conditions The economic risks within major countries of Southeast Asia are moderate at best. In the recent economic downward trend Southeast Asia is seeing the effects the slowing economic trend with their major trading partners the United States and Europe. The demands for exports are decreasing and forecasts for 2009-2010 expect this trend to continue (A.M. Best, 2010). A scoring system was used to evaluate the region based on data that was provided by AMB Country Risk Reports the rating system is; One Very Low Risk, two Low Risk, three Moderate Risk, four High Risk, and five -Very High Risk.† The country leads the region with are risk score of one is Singapore, followed by Indonesia two, Malaysia and Thailand three, Philippines and Viet Nam four. The Philippines and Viet Nam have significant economic risks that need to be taken into consideration (A.M. Best, 2010). Financial Options and Risks The financial system within the Southeast Asia region indicates a moderate to high risk on average other than the country of Singapore. As the global economy tightens credit requirements, this can have a significant impact on the financial stability in the region (Country Risk, 2010). A scoring system was used to evaluate the region based on data that was provided by AMB Country Risk Reports. The rating system is; One Very Low Risk, two Low Risk, three Moderate Risk, four High Risk, and five -Very High Risk. The country leads the region with are risk score of one is Singapore, followed by, Malaysia and Thailand three, Philippines and Indonesia four, and Viet Nam- five. The Philippines, Indonesia, and Viet Nam have significant financial risks that need to be taken into consideration (A.M. Best, 2010). Political stability There is a constant threat of terrorism according to the U.S. Department of State diplomacy in action website: http://www.state.gov/r/pa/ei/bgn/2794.htm, but the political stability is stable because of the continued efforts of the U.S. and other international entities such as the International Monitoring team. Economic conditions The economic conditions are stable; the Philippine government has been working over the past few years to reduce its deficits down to 0.2% of the GDP (Gross Domestic Product) and is continuously working to balance its budget. Finance options available According to an article Philippines: Types of Business Organizations that Foreign Investors may Establish in the Philippines there are several financial options available that are: These include the establishment by a foreign corporation of a (i) local subsidiary through a domestic corporation, (ii) a branch office, (iii) a representative office, (iv) a regional or area headquarters, or (v) a regional operating headquarters. Entry into the Philippines can also be achieved through joint ventures with other domestic corporations (Manalastas, and Guinto, 2000). Physical environment and its affect on trade The locality of the Philippines creates some environmental issues that needs to be taken into consideration there are three main issues the first two are seasonal; the typhoon season from June through November, the monsoon rain season from July through December. The third issue that is unpredictable is the volcanic eruptions that can happen at any time (The Philippines, 2010). Social, health, and environmental conditions The majority of the Philippine people do live in poverty and the mortality rate for babies is high; however the health care is improving the Philippines have been recognized for eliminating Polio (The Philippines, 2010). Although there is a pollution problem, the government of the Philippines is stepping in to help reduce pollution by enacting and enforcing laws that actually is helping clean up their environment. Cultural considerations When doing business in the Philippines there is a couple of cultural consideration to keep in mind such as it is unacceptable behavior to correct a person in public, to cause a person to lose face by refusing or saying no to a person, and do not accept an invitation to a family meal when first asked, if the invitation is asked a second time then it is all right to accept (The Philippines, 2010). Organizational Description Apple Computer, Inc. is headquartered in Cupertino, California. The company is a worldwide producer, designs, markets, manufactures computers, digital music and video players. Founded on April 1, 1976 by Steve Wozniak, Steve Jobs, and Ron Wayne, apple sells to all consumers small, mid-sized, and large businesses. The company sells its products through retail stores, online stores, and also third party wholesalers. The increase in awareness of value of the internet, and convenience it gives to its users will soon bring more to the table for the Philippines. Since the internet has been a big expansion for many markets many businesses have found use to this to expand their business overseas. Since 2000 to 2009 the internet usage has gone up from 2,000,000 (2.6%) to 24,000,000 (24.5%) in the Philippines. Apple’s line of digital music players has taken advantage by providing iPod users to download digital music files to their iPods. Apple Inc., sales a line of iPod digital music and video players to both the Windows and Mac users that also provides online services that can, as described in this article Reuters Profile: Apple INC. (AAPL.O) which states; â€Å"distribute third-party music, audio books, music videos, television shows, movies, podcasts, and applications† (Reuters, 2010), through the iTunes Store. ITunes is a digital music application for downloading and playing digital audio and video files. Since Philippines have about 24,000,000 internet users as of June 2009 which is about 24.5% of the population in the Philippines there is potential growth for this market to grow. With new information about Netflix possibly signing an agreement with Apple Inc. sales can possibly increase since there will be more possibilities for iPod users to download through Netflix servers. Risk Analysis Week 3 The purpose of this document is to analyze the risks that are involved in establishing a global business operation in a foreign country of the Philippines. The document will detail the risks of introducing Apple Incorporated and the iPod to the Philippines. The risks that will be covered include political risks, legal risks, exchange rate financial risks, and taxation risks. The document will also detail a variety of additional risks, specific marketing strategies and performance measurement that will impact the overall success of Apple Incorporated within the country of the Philippines. Political/Legal/Regulatory risks The Philippines is a bureaucratic country. It has a complex network of regulations, permissions, procedures, and authorities with approval procedures. Many of these restrictions are designed to bar off newcomers entering the country’s existing industries. This will not be the case for Apple Inc. The political, legal, and regulatory risks of opening an Apple store in the Philippines vary. Apple’s plan is to acquire an existing retail store and moving under the Apple brand. Even though the political risk is high Apple Inc. is in no way threatening to the political climate in the Philippines. The Philippines has been working in developing relationships with neighboring countries, â€Å"build close ties with neighboring countries in Southeast Asia through the Association of Southeast Asian Nations (ASEAN)† (A.M. Best Company, Inc, 2009).Legally, the risk associated with opening the store could be great, and the company must make sure it is in compliance with rules and regulations regarding the opening and operation of the store. The most immediate regulatory risk to business is because of mandated price agreements used by the government to combat inflation. Apple Inc. sees Philippines as a country poised for a great economic turn-around in the Internet and electronics market. Indicators such as World Stats forecast that the country is on a steady uphill swing. Exchange/ Repatriation of Funds Risks Exchange rates and repatriation of funds needs to be considered with Apple opening a store in the Philippines. Philippines are very open to foreign investors as a way to grow the local economy. However on January 2007, in an ongoing effort to promote two key goals, â€Å"the Philippine government has issued the Seventh Regular Foreign Investment Negative List† (Baleva, 2007), protecting domestic industries and encouraging foreign investors to participate in certain areas of enterprise. Pricing will also be a factor if the company bases there pricing by US standards. Exchange rate on US dollars to Pesos needs to factor in. Competitive Risk Assessment Apple’s key competitors are already doing business in the Philippines and creating a strong and profitable presence. Competitors such as Sony, Samsung, and Sansa have been doing business in the Philippines for many years. Apple’s target entrance into the market will give consumers more options and encourage more competition within the market. Taxation/Double Taxation Risks The agreement of double taxation outlines what taxes are covered, defines who the parties are and the context of the agreement and itemizes what is covered under the agreement. Underlining the rules under which a business’ profits are taxed and when double taxation comes into action. The double taxation agreement defines the establishment of permanent residence, which Apple Inc. would seek to have by opening a store in the country on a permanent basis. HM revenue customs defines permanent establishment as, â€Å"a fixed place of business in which the business of the enterprise is wholly or partly carried on† (HM Revenue Customs, n.d.). Based on the information contained in the agreement it is possible that Apple will be possibly doubled taxed. Market risks (four Ps price, place, promotion, and product) One of the risks that every business needs to address when selling their product in a foreign country is pricing the product to high that only a small portion of customers can afford to buy the product. According to the article Manila’s living costs, wages among the lowest it states; â€Å"To illustrate, workers in Zurich are paid $22.60 per hour ($30.30 gross), while workers in Geneva are paid $20.40 per hour ($29.20 gross)—a far cry from what average workers in Manila are paid: $1.40 per hour ($1.60 gross)† (Victoria, 2009). One of the ways to address this issue is to buy in large quantity, so that cost can be driven down. Currently the Philippines is experiencing a power crisis, which is a risk within itself in the article Philippines power at crisis point of the Asian Times it states; â€Å"Recent electricity outages in the Philippines has sparked concern that the country is on its way to its second power crisis in 20 years† (Rubrico, 2010). If there is no electricity, it will be hard to sell iPods to customers especially in the dark. Our company can purchase generators that can be used during the power outages. The Ipods are very popular and expensive in the Philippines, which has created a market of iPod thieves. According to Davao Today article iPod Thieves on the Rise in RP that states; â€Å"iPods may now be joining wallets and mobile phones as attractive targets for thieves and pickpockets† (No author mentioned, 2010). Train both employees and customers how to avoid being a victim, this will show the customers we just don’t think of them as a sale but as a person. Marketing Research Approach The marketing research approach for the Apple Store is a five step process that includes defining potential problems, developing a research plan, collecting relevant information by specifying data, developing findings, and taking marketing actions based on the analysis of data findings (Marketing Research, 2006). The research objectives will be to determine if there is a demand for the products offered by the Apple Store. The research plan will consist of surveying a minimum of 1,000 to 2,000 consumers in the target region of the Philippines. Contact information will be gathered to later obtain positive or negative feedback on the products that are offered by the Apple Store. An online survey will also be conducted through the Apple Store via the internet. This will assist in later developing marketing strategies applicable to the products offer by the Apple Store that are in demand in the target region. Some types of questions that will be asked during the Apple Store survey are as follows: 1) What is your age? 2) What is your gender? 3) Would you purchase the products offered by the Apple Store? 4) What did you like about the product? 5) What did you dislike about the product? 6.) Was the product easy to use? 7.) What would you change about the product, if anything? 8.) Will you continue to use the product? 9.) Would you recommend the product to a friend? 10.) What would you consider a fair price for the product? Apple Store Marketing Mix The marketing mix of product, price, place, and promotion is a crucial part of the introduction of the products being offered at the proposed Apple Store. A strong strategic marketing plan developed by the marketing team will assist the Apple Store in getting of to a positive start. The products offered by the Apple Store will include all items that a consumer can purchase through the on-line Apple Store web address http://store.apple.com/ph. The products include the wide variety of iPod products, iPhones, and Mac products. The physical location of the Apple Store needs to be in a high traffic public area that will attract many customers. The pricing strategy of the products offered at the Apple Store in the Philippines will targeted to under cut the competition in the region during the first 6 months of operation while still maintaining reasonable profit margins on the Apple Store products. This strategy will help in initially establishing the presence of the Apple Store in the target region. Apple Store executives will consistently monitor the progress of the Apple Store in the Philippines during the first 6 months of operations and recommend solutions to any potential risks that come up during this time period. After the first 6 months of operation in the region the product pricing strategy will be revisited. The location of the Apple Store will be critical to the overall financial success of the business. The attributes that are desirable for the physical location of the Apple Store include a highly visible location with heavy consumer traffic. An additional attribute is needs to be considered is the location of the store will be easily accessible for ease of the distribution channels to replenish inventory needs with minimal risk. In selecting a location with these attributes the Apple Store will have a higher probability of meeting or exceeding business goals and objectives. The strategic marketing plan will identify specific dates that will provide the best dates for a promotional sale grand opening of the Apple Store in the Philippines. To start the promotional period the marketing team will start advertising the grand opening of the Apple store several weeks prior to the grand opening. Apple Store products will be advertised by using magazine ads, internet and television spots, and any other means of promotion detailed as a strong promotional tactic in the region. The marketing team will need to pay close attention to see how quickly the product inventory will move from the shelves during the first few weeks of operation if the Apple Store is approved for implementation in the Philippines. The marketing strategy also needs to verify that there is sufficient demand for the Apple Store products. Distribution and supply chain risks There are a few items that make distribution and supply risky in the Philippines, as stated in the Spend Matters article Apple’s Risky iPod Supply Chain; What types of risk? Well, try an active volcano located less than 20 miles away, proximity within an earthquake zone (which makes San Francisco’s seismic activity look tame), and the very real threat of tropic storms and typhoons. And thats not even considering that the area around the plants is subject to regular flooding from storm water, blocking ingress of people and egress of goods [the factories] even sends people home early when a serious storm is forecast, because of the risk that the roads will be impassable.† (Busch, J. 2006) No one can prevent Mother Nature from happening, but we can be prepared by staying updated on the weather reports and staying alert to nature’s surroundings. By staying prepared and knowing what to do in the event of a natural disaster, will prevent personal injuries to emp loyees and customers as well as minimizing damages to our product. Distribution Channel Management The marketing team will perform extensive research before the introduction of the Apple Store begins business operations in the Philippines. Determining a reliable distribution channel in a global business operation is an important formula for success. The main distribution channel will start in the United States and products will be distributed to the Philippines based on inventory needs transmitted through an electronic data base. The distribution of the Apple Store products from shipping destination within the Philippines to the Apple store location is an addition characteristic that needs to be considered because of the threat of theft that exists within the target country. Once the store headquarters has been established then logistics such as shipping, receiving, and storage in smaller warehouses will be considered based on distribution risk factors have been evaluated. One prime objective of the Apple Store in the Philippines is to meet or exceed our customers’ needs. Physical and environmental challenges to entering and operating in a target market There are several physical and environmental challenges when operating a business in the Philippines, some of the physical challenges include political unrest, corruption, terrorism, and extortion these are just a few that needs to be address. The environmental challenges include pollution (water and air), natural disasters (volcano eruptions and flooding), unemployment according to Index munbdi: Philippines unemployment rate that shows for 2010 to be an estimated 7.5% (No author mentioned, 2010). Staying informed is key to handling these types of risks, some things can be handled by local authorities and others will have to be dealt with the best way possible depending on the situation. Social and cultural risks In the social and cultural circle, the risk of misunderstanding in many categories is very easily done such as those listed in the article Centre for intercultural learning: Cultural Information Philippines that are: â€Å"Conversation, Communications Styles, Display of Emotions, Dress, Punctuality, Formality, and Decision Making† (No author mentioned, 2009). Not knowing how to address each of these items can lead to offending the Filipino people, which will cause problems in doing business in the community. Common sense and proper communications will just about handle each of these risk, also by participating in community events and helping the community during a time of crisis will promote unity between the company and the local people. Cyber or Technology Stealing technology and cyber attacks are a big risks, the government of the Philippines still needs to catch up the laws concerning today’s technology. In the article, Experts Call for Stringent Laws against Cyber Crime in Philippines states that; â€Å"The security researchers states that these kinds of e-mail attacks occur more commonly across the Philippines since there arent any cyber crime laws in the country to catch and prosecute Internet criminals, particularly e-mail fraudsters† (No author mentioned, 2010). Common sense applies to these risks as well, making sure that our computer systems maintain the most recent updates on security programs and training the employees to never give out passwords and shut down the computer every night before going home are just some suggestions that will prevent problems down the road. Define and clarify mission and objectives The Mission Statement of Apple Incorporated will remain the same as researches through multiple sources according to Investor Relation of Apple (located on the FAQ page) it states that; Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market this year with its revolutionary iPhone (Apple-History, 2010 6). Philippines Internet use has grown remarkably throughout the years. Internet World Stats estimated as of March 2009, there are 20.6 million Internet users coming to about 21.5% of the entire population in the Philippines. Apple Inc. has selected the Philippines to begin expansion providing stores and Internet downloading over the web for users to download digital audio, video, and podcast files. The primary business objective is to establish a 15% profit margin in the first year of operation within the Philippines. In each subsequent year after the first a 5% increase to the profit margin has been established as a goal until the profit margin reaches a 30%. Additional objectives include obtaining a 10% market share of the products offered by Apple Incorporated and a 4% increase per year over the next 3 years. Customer satisfaction has also been established at a target percentage of 97%. SWOTT Analysis SWOTT analysis is a useful tool to determine the strengths, weaknesses. Opportunities and threats that exist within a global business entity or region are being evaluated for risk factors. The team has developed a SWOTT analysis for the target region to identify these factors prior to engaging in any business operation within the Philippines. This will assist the team in identifying key characteristics in the structure and development of Apple Incorporated within the Philippines. Current Competitors Competitive Landscape The competitive landscape for Apple Store are the following companies that have a strong hold on a large portion of the population that Apple Store will have to compete with in the global market place. These companies manufacture similar technology devices that Apple Store is competing for to increase global market share. Their products are known throughout the global technology market where competition is extremely competitive. Competitors’ of the Apple Store include Dell Incorporated, Hewlett Packard, and Gateway. The engineering development of new improved technology will assist the Apple Store in gaining competitive advantage over the competitors. Customer satisfaction is a primary objective at the Apple Store. A recent survey conducted in 2008 by the University of Michigan named the American Customer Satisfaction Index ACSI indicated that Apple had a ten point advantage over its closest competitor (Computerworld, 2010). The Apple Store that is being considered in the Philippines will have the same target goal in reference to customer satisfaction in the target region. Strategy Selection The strategy selection of Apple Incorporated is to establish a base store that strategically reports back sales results and inventory needs to a home base location within the United States electronically. The strategy of the company will be to promote the iPod through lower price cost structures than existing competitors. The company will also launch a marketing campaign to promote this strategy through established marketing structures that exist within the Philippenes. This will assist Apple Incorporated in notifying consumers of company existence in the region while promoting our lower priced product. The mode of entry to develop Apple Incorporated to enter the Phillipenes will be the direct investment mode. Apple Incorporated will be establishing a location within the country and then based on all business results will determine if additional locations within the country are needed to meet customer demand. Advantages of this mode of entry include high sales potential, low political risk, and the company could be viwed as an insider (Quick MBA, 2010). Because of some of the high risk elements that exist within the Philippenes Apple Incorporated will need to be cautious by limiting the amount capital that the company will spend in the direct investment mode. Control and Evaluation Specific measures will be monitored on a weekly basis to track the progress and continous improvement opportunities that exist to set up operations within the Phillipenes. The key characteristics that impact overall business results will be evaltated to establish a proactive approach to issues that will have an impact these results. The key characteristics will include sales, inventory, taxes, and process limitations. This will assist Apple Incorporated in providing a quick responsive action to any underlying problems that need to be resolved. Sales goals and profit margins will also be evaluated to determine the overall success within the Phillipenes. Contigency Plan Apple Incorporated will need a contigency plan to account for risk factors that have some probability of resulting in business profitability not reaching overall expectations. The contigency plan that Apple Incorporated has in place consists of closing the existing store if business objectives are not achieved with leaving options open for changing the mode of entry into the Phillipenes to exporting the product through established distribution channels. This contigency plan still allows the company to establish sales within the Phillipenes while reducing investment risk. Financial Overview Apple has the possibility for a strong financial investment in the expansion into the Philippines. The risks associated with the investment into the Philippines do not outweigh the benefits that can realistically be achieved. After thoroughly researching the Pilipino market, the Ayala Group, one of the largest firms in the Philippines is supposedly involved in a project to put up an official Apple store in the Philippines (Technograph, 2009). This is beneficial because less money will have to be invested in research and development, as well as marketing and advertising since the organization is already known throughout the Philippines. The economy in the Philippines has not shown extreme changes or any sudden implications that the economy is getting stronger. The Philippine GDP for the year 2009 has barely risen 1% but has, â€Å"weathered the 2008-09 global recessions better than its regional peers due to minimal exposure to securities issued by troubled global financial institutions† (index mundi, 2008). Operating Expenses As projected for expenses for one apple store, the budget chart shows total operating expenses at $5, 482 and operating income at $11,740 and other income and expenses at $326. There are many providers that impact operating expenses such as utilities, taxes, and advertisement. Apple has projected a total operating expense at $5,482 for one apple store. When assembling a budget chart, it is essential to take into account all factors to properly manage a business. It is important to trust that focused investments in Research and Development (RD) are significant to a company’s future competitive and expansion position in a foreign market and are directed towards the development of new and improved products that are central to the company’s core business strategy. As such, Apple expects to make further investments in RD to expand and remain competitive in the Filipino market. Other factors of influence that can help expand Apple into the foreign market, is the company’s persistent expansion of its retail division in both international and domestic markets, top stock-based return expenses and higher spending on marketing and advertising (Apple Investor 2010). The chart below shows the estimated monthly general budget of the operation of one store in the Philippines, providing that the decision is made to proceed with the plans to set up and begin operations. This is a rough estimate, because of the many factors that may and will fluctuate either in a positive or negative way can cause a change on the expense side, however the further we proceed the more accurate our budget will become. Financial Overview General Budget Foreign Exchange Risk Studies have found that many Asian-Pacific businesses are exposed to one or more of the world’s major currencies: the Euro, the US dollar, the British pound, and the Japanese Yen. Some of the greatest dangers were produce by fluctuations in the US dollar. This impacted 58 percent in the Philippines, â€Å"currency fluctuations affected the profitability of companies whose financial assets and liabilities (most notably debt) were held in foreign currencies† (Vanderbilt, 2007). When choosing to invest in the Philippines, the foreign exchange risks associated with business ventures are significant because of an Asian financial crisis during (1996-1998), â€Å"more than half of the studied companies in Indonesia, Korea, Malaysia and the Philippines, and about a third of those in Japan and Singapore, were exposed to the dollar, and about a quarter of the firms in Singapore were exposed to the yen† (Vanderbilt, 2007). Risk Management Transaction risk refers to the fact that the cash flow value of foreign currency contracts may change due to exchange rate fluctuations. Additionally, since the organization will be buying and selling goods in foreign currency to a certain extent, the foreign exchange risk increases. The potential negative aspects associated with doing business in the Philippines are significant since the business will be using Filipino Pesos, which has an inflation rate of 4.4 percent. As a result, there is a risk that the exchange rate as with any currency may change unfavorably before the currency is actually exchanged. However, these risks can be counteracted by utilizing forward hedging, which is a way to lock in an exchange rate on an agreed future date. This will allow the organization to be completely aware of future cash inflows and outflows, as well as the value of the organization’s profits in US currency since the exchange rate will not change due to the purchase of forward hedging. Financing Given the current international economic instability, the choice of choosing from domestic or international financing is tough because there are significant risks associated with each. The European Investment Bank (EIB) has offered financing opportunities to the Philippines; currently the EIB has one billion euro allocations in 18 Asian countries including the Philippines. If the company chooses to move forward with the international venture, the company would choose to finance through the EIB. The EIB, â€Å"has provided over 600 million euros in funding for multiple projects in the country coursed through the government and private sector† (European Chamber of Commerce of the Philippines, 2009). Centralized versus Decentral ized The parent company and its iPod department within the parent company, both works as a centralized organization because having an effective control is essential to the everyday operations for both the domestic and global sectors. It would be essential for the parent company to make the final decisions regarding all aspects of the company’s operation, because every unit and sub-unit such as manufacturing plant located in Mexico and the shipping department located in the U.S. of the company has to report all information of their daily operations to the parent company allowing the parent company to know what the left and right hand is doing basically at the same time and can make an informative decision for whatever situation may arise. Both the domestic and global units and sub-units operate as a decentralize company, because certain situations such as environmental changes, customer needs, or political unrest will cause problems and disrupt a part of the company operations or even all parts of the company operations these problems to be addressed immediately and cannot wait for the parent company on the other side of the world to make an informed decision, even if the problem had happened before at a different location because what may work domestically may not work globally and vice versa. When making an informed decision whether at the unit, sub-unit, or the parent company level there is a need for a communication chain of command, starting with the employee who is out in the field working upwards to the parent company which may be the CEO (chief executive officer) who usually has the authority to make final decisions that will affect the company or the owner if there is no CEO available. The line of communications should always remain open, in the event of a minor glitch or a major emergency. Regardless of the value of the information, if the line is broken then a decision cannot be made in a timely manner or may not be made at all causing a problem to grow bigger or missing a profitable opportunity. The communication chart below shows the chain of command from the field representative to the parent company, not all information will reach the top because some decisions can be made at lower levels, for example; the parent company should not be bothered with whether a field representative needs office supplies. Exit Strategies The future is unknown, even if there is a planned exit strategy years from now does not guarantee it will happen as planned. Depending on the situation that is either planned, forced or requires our business in the Philippines to implement its exit strategy would determine the best strategy to use. In the event of a political uprising or civil unrest that results in raising the level of possible war, then the shutting down procedure would be best since it involve very little (if any) paper work and is the fastest way for U.S. employees and their families to get out of the country. If there is no time at all complete abandonment might be forced, either course of action will involve a monetary loss. If time allows and there is no rush in exiting the Philippines, handing the business over to our joint venture partner would be the best, this exit does involve legal paper work and would minimize loss (if any), it would also leave the path open for possible future ventures back into the co untry based on a friendly and healthy transfer of the business. Recommendation The Philippine iPod risk analysis team recommends proceeding with entering the Philippines market. After the exhausting task of finding the risks of entering the country, we had found that the benefits (profits) do exceed the risks (costs) even during the economic troubles that the U.S. is currently experiencing. Although we are not the first iPod and iPhone Company to enter the Philippines market, we still can become a major player and take a large percentage of the market. With the Apple Company creating a direct store that basically eliminates the middle man and develops a presence in the area that shows the potential customer that they will get the original iPhone without the worry of receiving a fake and less dependable copycat, which is a major problem in this region. Having direct shipping, of iPhones and iPods from the parent company will help with the recovery costs and to make a profit quicker. The company will gain additional profits once the store becomes fully operational and service contracts are purchased by new customers. Finally with the current economic stability of the Philippines, this is a good time for Apple to enter into this market because like our domestic customers love to have the latest technology, the Filipinos consumers also love to have the latest technology too. Because no other local company can offer the security or the guarantee of authenticity of the iPhone products, this gives our company a very unique position in the Philippine market. The company will be experiencing and dealing with many issues brought up by our customer base, because of the one on one contact with the customers this will help our operation on a global level allowing our technical department to learn from these new problems and coming up with new solutions this will make our product better and easier to sale globally. Conclusion In analyzing the risks invoved with Apple Incorporated conducting business within the Philippines the company will be in a better position to achieve the financial success. The process of risk assessment provides a clearer picture of the obstacles that need to be overcome within the Philipines. Strategic marketing plans can assist the company in establishing positive sales results in the target country. Electronic communication to proactively respond to business needs and issues will lead to satisfied customers. The initial mode of entry and an alternate mode of entry detailed in the contingency plan also indicate the company’s preparation. Establishing key business characteristcs to monitor on a regular basis will identify continous improvement opportunities for the company in conjuction with items identified in the SWOTT analysis. The combination of these critical factors will guide Apple Incorporated to make a more informative decision based on all the factual information c ollected. References Andaya, Barbara, 2009. Introduction to Southeast Asia. Retrieved April 4, 2010 from http://www.asiasociety.org/countries-history/traditions/introduction-southeast-asia A.M. Best Company. Ratings and Analysis Center: Country Risk, Retrieved April 4, 2010 from http://www3.ambest.com/ratings/cr/crisk.aspx ASEAN, 2009. ASEAN Member States. Retrieved April 4, 2010 from http://www.aseansec.org/18619.htm Manalastas, J. M. and Guinto, B. L. 2000, Philippines: Types of Business Organizations that Foreign Investors may Establish in the Philippines. Retrieved April 3, 2010, from website: http://www.mondaq.com/article.asp?articleid=9340login=truenogo=1 No Author Mentioned, 2009, TDS: Philippines Asia, Economy. Retrieved April 3, 2010, from website: http://www.traveldocs.com/ph/economy.htm No Author Mentioned, 2010, The Philippines. Retrieved April 3, 2010, from website: http://www.everyculture.com/No-Sa/The-Philippines.html Internet World Stats. (2010). Asia Marketing Research, Internet Usage, Population Statistics and Information. Retrieved from http://www.internetworldstats.com/asia.htm#ph Thomas Reuters. (2010). Apple Inc. (AAPL.O). Retrieved from http://www.reuters.com/finance/stocks/companyProfile?rpc=66symbol=AAPL.O Internet World Stats. (2009). Internet Usage Stats and Marketing Report. Retrieved from http://www.internetworldstats.com/asia/ph.htm Kian, C.C. (2004). Internet market in the Philippines shows full potential for growth. IDC. Retrieved from http://www.idc.com.my/philippines/press/IDC%20Philippines%20-%20Internet.asp A.M. Best Company, Inc. (2009). AMB Country Risk Report. Retrieved from http://www3.ambest.com/ratings/cr/reports/Philippines.pdf Baleva, M. (2007). Philippines Issues Foreign Investment List for 2007-2009. ALBLegalNews. Retrieved from http://au.legalbusinessonline.com/law-firms/philippines-issues-foreign-investment-list-for-2007-2009/1076/23599 Busch, J. (2006), Apple’s Risky iPod Supply Chain. Retrieved April 10, 2010, from http://www.spendmatters.com/index.cfm/2006/11/3/Apples-Risky-iPod-Supply-Chain Hicks, R. (2009). Philippines launches study on internet use. futureGOV. Retrieved from http://www.futuregov.net/articles/2009/jul/27/philippines-launches-study-internet-use/ HM Revenue Customs. (n.d.). DT15354 DT: Philippines: double taxation agreement, Article 5: Permanent Establishment. Retrieved from http://www.hmrc.gov.uk/manuals/dtmanual/DT15354.htm Rubrico, J.G.U. (2010), Philippines power at crisis point. Retrieved April 10, 2010, from http://atimes.com/atimes/Southeast_Asia/LD10Ae01.html Toby C. Monsod, (2009). The Philippine Bureaucracy: Incentive structures and implications for performance (4th ed.). Quezon City, Diliman: Human Development Network. Victoria, E. (2009), Manila’s living costs, wages among the lowest. Retrieved April 8, 2010, from http://www.asianjournal.com/dateline-philippines/headlines/2767-manilas-living- costs- wages-among-the-lowest-.html No author mentioned (2009), Centre for intercultural learning: Cultural Information – Philippine. Retrieved April 11, 2010, from http://www.intercultures.ca/cil-cai/ci-ic-eng.asp?iso=ph No author mentioned (2010), Experts Call for Stringent Laws against Cyber Crime in Philippines. Retrieved April 11, 2010, from http://www.spamfighter.com/News-13688- Experts-Call-for-Stringent-Laws-Against-Cyber-Crime-in-Philippines.htm No author mentioned (2010), Index Munbdi: Philippines unemployment rate. Retrieved April 10, 2010, from http://www.indexmundi.com/philippines/unemployment_rate.html No author mentioned, Foreign Market Entry Modes, Retrieved April 12, 2010 from http://www.quickmba.com/strategy/global/marketentry/ No author mentioned (2010) What is Apple’s Mission Statement. Retrieved April 12, 2010 from http://www.apple-history.com/?page=faq#1500 Index mundi. (2008). Philippines Economy Profile 2010. Retrieved from http://www.indexmundi.com/philippines/economy_profile.html Technograph. (2009). Official Apple Store to Supposedly Open in the Philippines. Retrieved from http://technogra.ph/2009/05/05/official-apple-store-to-supposedly-open-in-the-philippines/ Apple Investor Relations Annual Reports. (2010). Investor Relations. Retrieved from http://phx.corporate-ir.net/phoenix.zhtml?c=107357p=irol-reports Bangko Sentral ng Pilipinas. (2005). Philippines-Central Bank of Philippines. Retrieved from http://www.bsp.gov.ph/ Vanderbilt. (2007). Foreign Exchange Risk of Firms in Asia-Pacific. Retrieved from http://mba.vanderbilt.edu/vanderbilt/About/faculty-research/featured-research

Emerging Technologies Essays -- Digital Gadgets, Personal Information

During the 21st century the world has witnessed massive developments in technology. Almost every person is familiar with the use of digital gadgets for communication, socialization and data storage among other services (Freedman 02). The inventions of electronic devices that can be used to store, send, receive and access any information are results of advancements in technology. These developments belong to the information and communications category. Many people in today’s world make the mistake of thinking that the technological advancements that are happening right now are the only technologic advancements evolving in the world. However when it comes down to it, people have been experiencing technological advancements as early as the Neolithic period, impacting almost every aspect of life. These ancient technologies have come to be overtaken by time, as there are new ones which seem to be more efficient in accomplishing similar tasks. Emerging technologies can be said to be innovations and advancements that can be witnessed in different sectors of technology (Zelkowitz 6). Most up-coming technologies have brought synchronization of the previous developments, making them work together in achieving a similar goal. A good example of this is how video, data and telephonic technologies have now been made to work together in achieving the same goal of effective communication (Zelkowitz 12). All of these technologies used to exist completely by them self, but not anymore. Scientists developed different social services that connect people together in a form of social media. Examples of these applications include; Twitter; Facebook, Vine, and Instagram among many others. As much as these new technologies have brought efficiency and a... ...ormation, and we cannot just do away with emerging technologies just because of critics. We need to accept that everything has its share of merits and demerits, and move on. All we need is looking for means of preserving our cultures and history as well as basic education whether there are emerging technologies or not. Works cited Freedman, C. D. The Extension of the Criminal Law to Protecting Confidential Commercial Information: Comments on the Issues and the Cyber-Context. (August 01, 2013). International Review of Law, Computers & Technology, 13, 2, 147-162. http://www.tandfonline.com/doi/abs/10.1080/13600869955116#.UdhxNezkU1I Gopnik, Adam. â€Å"The Information: A Critic at Large.† The New Yorker 14 Feb. 2011: 124+. ProQuest. Web. 31 October 2011. Zelkowitz, Marvin V..Vol.73 Advances in Technology: Emerging Technologies. Amsterdam [u.a.: Elsevier, 2013. Print.

Historical Lens Criticism

Historical Criticism Goal: Explain the content of literature based on in which it was written. Historical critics look at politics, ideas, culture, how people lived, etc. When an lazing literature. Pros and Cons of Historical Criticism pros ; The historical lens is an accurate way to view history because people their thoughts and ideas through lit. ; These views can be Cons Some people say that the great pieces of literature do not need to be understood wrought a historical lens because their greatness is derived from a timeless, universal theme.The Historical Lens works in. Not only can we interpret literature from a historical background, but literature can help us understand history based on the time it was written. Killjoy example: List two ways the excerpt from â€Å"Killjoy† shows the author/united State's opinion on the Vietnam war. 2. Historical Lens from the Loran The Loran was published in 1971.In 1970 there was a big push for the government to implement laws that wi ll protect the environment . Dry. Issues took issues from one great lake. What lake was it, and what is the quote used to pr eve this? Historical Lens from â€Å"Sonnet X: Death Be Not Proud† In what way did religion and English culture shape the life and poetry of John Done? How does this illuminate the meaning of the poem? (Hint: Find evidence that inks Done with 17th century England)

Leagalizing Marijuana

Many millions of people like to use marijuana, whether for therapeutic benefit or pleasure and every objective study on marijuana has concluded that it is far safer than alcohol and cigarettes for the consumer and the surrounding community. Alcohol and tobacco are more toxic, more addictive, and more harmful to the body than marijuana, and alcohol is more likely to result in injuries and lead to interpersonal violence. According to an assessment published in the British Columbia Mental Health and Addictions Journal, health-related costs for alcohol consumers are eight times greater than those for marijuana consumers, and those for tobacco consumers are 40 times greater than those for marijuana consumers. Other benefits of legalising marijuana are: – Lower prices, thus crimes such as theft would be reduced – Street justice relating to drugs would be reduced Police and courts would be freed up for more serious crimes – illegal drug dealers would lose all or most of their business – the fact that is illegal makes it more of a ‘must have’ for young people trying to be ‘cool’. Illegal cannabis is a stepping stone leading to other more hard-core drugs such as ecstasy, heroin, and cocaine. Making it legal may change that the fact it would be much easier to obtain and people would not have to associate with drug dealers, thus not be around other drugs a nd not being tempted by offers for other drugs. Legalizing it would also stop illegal transportation from countries to countries which would cut down the airport arrests. Health risks are also very low, Dr. Paul Homby (who is one of the leading authorities on cannabis research) said that you would have to smoke 15,000 joints in 20 minutes for you to receive a toxic amount of delta 9 terrahdrocannibinol which is a chemical found in pot, this clearly is impossible. Some notable medical conditions that weed has been proven to help are; Epilepsy, multiple sclerosis, glaucoma, arthritis, depression, anxiety, hepatitis C and morning sickness. There is variety of reasons for this which include; – weed calms people down, – helps improve the effectiveness of legal drugs used for the condition – helps chronic pain – reduces and relives the intraocular pressure that causes optic nerve damage It is the contention of this essay that legalizing marijuana would not impact society in a negative way but actually in a more positive one. This is shown by data and research from doctoral studies and the British Columbia Mental Health institute which is also supported by my invalid opinion.

View Message LinkedIns New Frustrating Email Functionality

View Message LinkedIns New Frustrating Email Functionality Today I opened up my inbox and saw I had a message from a LinkedIn contact. â€Å"Maybe he’s interested in my services!† I thought. Of course, I couldn’t tell what he had written, because all the subject line said was, â€Å"John sent you a new message.† And all the body of the email had was a line saying â€Å"You have 1 new message† – along with John’s head shot and partial headline. I had to click â€Å"View Message† to find out what the heck this guy wanted to talk about. I was already angry by the time I clicked â€Å"View Message† to be brought to the LinkedIn website. And when I got there, I discovered that his message said †¦ ready for this? †¦. â€Å"Thanks.† Yep, I had wished John a happy birthday and he was thanking me. That was it. If I had been able to see this message in my email inbox, all would be well. I could have deleted it and someday gotten around to replying to John with a thumbs up – or not. But as of about a month ago, LinkedIn is forcing us to go to their website to read our mail. Strangely, I haven’t found anyone talking about this on the interwebs. Am I the only person who doesn’t like this change? I mean, I don’t usually write rants in my weekly blog, but this new messaging functionality is not working for me. Here’s What I Don’t Like: I have to click on a message and go to LinkedIn without knowing whether I want to read the message. It’s often a waste of time. Flagging messages for follow-up has become less integrated. I can flag the message in my inbox, but when I want to follow up, I need to go to the LinkedIn platform to remind myself what the conversation was. LinkedIn seems to be pushing people to subscribe to LinkedIn Premium in order to have their messages seen. The thing is, if someone sends me an inMail, I can view the entire message. So I’m encouraged to send inMails, which are only available through LinkedIn Premium, instead of sending regular messages which can’t be read from people’s inboxes. I find myself not wanting to click, not wanting to go to LinkedIn. Since it’s my job, I do it. But what about the people receiving my messages? Will they open them? I’m afraid fewer and fewer of my non-inMail communications will be read as people get tired of blindly clicking on â€Å"View Message.† LinkedIn didn’t send any notification that I know of to their subscribers letting us know about this change. For a while after the Microsoft merger, communications from LinkedIn seemed to have gotten better. They were announcing changes before they happened! Recently, however, there have been no announcements, no notifications. I don’t like being in the dark, especially as someone whose job it is to advise people about changes in the LinkedIn platform. Take Action Am I alone here? Anyone else who is peeved by this change? Or has the collective LinkedIn community thrown its hands up in the air on this one? In the past, when enough people have complained about a change, LinkedIn has reverted back to the preferred functionality. Perhaps we can change the way our emails are appearing? If you’re behind me, please let LinkedIn (and others) know! Here’s How to Send Feedback to LinkedIn To send your feedback to LinkedIn, visit LinkedIn Help at https://www.linkedin.com/help/linkedin/solve/feedback and suggest they improve this feature. You could write something like this: Area of Feedback: Message Notifications Your Question: LinkedIn, please change the message notifications back to the way they were. I would like to see full messages from my connections in my email inbox again. I dont want to have to click through to my LinkedIn account to view their message. Thank you! Share on Social Media If you want to share this article via social media, you might like to use the following: What are your thoughts on LinkedIns new empty message notifications in your mailbox? I personally dont want to log in to see my messages. LinkedIn, #changeitback! #linkedinhelp #linkedinfail @LinkedInHelp @LinkedIn  https://goo.gl/wHzDHn If you want to see more LinkedIn tips and information like this right in your inbox, sign up for my LinkedIn Professional Writing e-list. And if youre ever interested in working with me on your LinkedIn profile or other strategies, check out my  20-minute live LinkedIn profile review. Its a great place to start!

How to Use Parentheses in Writing

How to Use Parentheses in Writing The parenthesis is a  punctuation  mark, which is written or typed as an upright curved line. Two parentheses, ( ),  are generally paired and used to mark off explanatory or qualifying remarks in writing. Parentheses indicate an  interrupting phrase,  a word group (a statement,  question, or  exclamation) that interrupts the flow of a sentence  and can also be set off with  commas  or  dashes. The parenthesis is a type of  bracket, which when paired with another bracket- [  ]- is  used to interject text within other text. Parentheses are prevalent in mathematics, too, where they are used to set off arithmetic symbols as well as numbers, operations, and equations.   Origins of the Parenthesis The symbols themselves first showed up in the late 14th century, with scribes using  virgulae convexae  (also called  half moons) for a variety of purposes. By the end of the 16th century, the  parenthesis  (from the Latin for insert beside) had begun to assume its modern role, as Richard Mulcaster explained in Elementarie, which was published in 1582: Parenthesis is expressed by two half circles, which in writing enclose some perfit branch, as not mere impertinent, so not fullie concident to the sentence, which it breaketh, and in reading warneth us, that the words inclosed by them ar to be pronounced with a lower quikker voice, then the words either before them or after them. In her book Quoting Speech in Early English, Colette Moore notes that parentheses, like other marks of  punctuation, originally had both elocutionary  and  grammatical  functions: [W]e see that whether through vocal or  syntactic  means, the parentheses are taken as a means to downplay the significance of the material enclosed within. Spanning more than 400 years (Moores book was published in 2011), both authors say essentially the same thing: Parentheses separate text that, while important in that it adds meaning, is less significant than the text that falls outside of these punctuation marks. Purpose Parentheses allow for the insertion of some verbal unit that interrupts the normal syntactic flow of the sentence. These are called  parenthetical  elements, which may also be set off by dashes. An example of parentheses in use would be: The students (it must be acknowledged)  are a foul-mouthed bunch. The important information in this sentence is that the students are foul-mouthed. The aside adds texture to the sentence, but the statement would work fine and make sense without the parenthetical information. The Chicago Manual of Style Online explains that parentheses, which are stronger than commas or dashes, set off material from the surrounding text, adding that; Like dashes but unlike commas, parentheses can set off text that has no grammatical relationship to the rest of the sentence. The style guide gives these examples: Intelligence tests (e.g., the Stanford-Binet) are no longer widely used.Our final sample (collected under difficult conditions) contained an impurity.Wexford’s analysis (see chapter 3) is more to the point.The disagreement between Johns and Evans (its origins have been discussed elsewhere) ultimately destroyed the organization. The style manual also notes that you can use parentheses as  delimiters for letters or numbers in a list or outline, as well as in academic  uses including  parenthetical references to a list of works cited. Using Parentheses Correctly Parentheses (as with other punctuation marks) can be tricky to use until you understand a few simple rules: Adding additional information:  June Casagrande, author of The Best Punctuation Book, Period., notes that you can use parentheses to convey additional information, such as: The new sedan is fast (it goes from zero to 60 in just six seconds).The boss (who had walked in just in time to see the accident) was furious.She strolled the third  arrondissement  (district). In the first sentence, the statement,  The new sedan is fast, does not end with a period. Instead, you place the period after the parenthetical sentence (as well as the final parenthesis),  it goes from zero to 60 in just six seconds. You also start the parenthetical sentence with a lowercase letter (i) because it is still considered part of the overall sentence and not a separate statement. In the second sentence, you might argue that the parenthetical information (the fact that the boss saw an accident) is key to understanding the sentence. In the third sentence, the parenthetical word district is an English translation of the French word  arrondissement. Though the word  district  is parenthetical, it might be important in helping a non-French-speaking reader understand the sentence. Delimiters for letters or numbers in a list:  The Chicago Manual of Style says you should put parentheses around each number or letter in a list, as in these examples: Compose three sentences to illustrate analogous uses of (1)  commas, (2)  em dashes, and (3)  parentheses.For the duration of the experiment, the dieters were instructed to avoid (a)  meat, (b)  bottled drinks, (c)  packaged foods, and (d)  nicotine. Ins, as noted by  Purdue OWL, are: According to Jones (2018), Students often had difficulty using APA style, especially when it was their first time (p. 199).  Jones (2018) found students often had difficulty using APA style (p. 199); what implications does this have for teachers?The study participants showed no improvement in cholesterol levels (McLellan and Frost, 2012). For these types of parenthetical citations, you generally include the year of the publication, the author(s) names, and, if needed, the page number(s). Note also that in the previous sentence, you can use parentheses around a single letter, indicating that the word number may be singular referring to a single page number, or it may be plural, referring to two or more page numbers or that there may be only a single author or several authors. Mathematical problems:  In  math,  parentheses are used to group numbers or variables, or both. When you see a math problem containing parentheses, you need to use the  order of  operations  to solve it. Take as an  example the problem:  9 - 5 à · (8 - 3) x 2 6. In this problem,  you would  calculate the operation within the parentheses first, even if it is an operation that would normally come after the other operations in the problem. Parenthetical Observations Neil Gaiman really likes parentheses. Biographer Hank Wagner quoted the British author in Prince of Stories: The Many Worlds of Neil Gaiman explaining why he is a fan of these curved punctuation marks: I admired [C.S. Lewiss] use of parenthetical statements to the reader, where he would just go talk to you. Suddenly the author would address a private aside to you, the reader. It was just you and him. Id think, Oh, my gosh, that is so cool! I want to do that! When I become an author, I want to be able to do things in parentheses. Gaimen may feel blessed when the author offers him a personal aside, but other writers say that parentheses may be a clue that the sentence is becoming contorted. As author Sarah Vowell notes in her book, Take the Cannoli: Stories From the New World, with a touch of sarcasm: I have a similar affection for the  parenthesis  (but I always take most of my parentheses out, so as not to call undue attention to the glaring fact that I cannot think in complete sentences, that I think only in short   fragments  or long,   run-on  thought relays that the literati call   stream of consciousness  but I still like to think of as disdain for the finality of the period). So take the advice of The Associated Press Stylebook. Be kind to your readers and use parentheses sparingly. Rewrite your sentence if you find you are including long asides or more than one set of parentheses. Use these punctuation marks only when you have a short, pithy, and interesting bit to convey to readers to heighten their interest- not confuse them.

How to Address Your Grandmother in French

How to Address Your Grandmother in French The familiar noun  mà ©mà ¨re, derived from the concept de mà ¨re (of mother) and pronounced may mehr,  has a bit of a split personality: It can be used in a very positive sense, and it can be used in quite a negative sense.   Positive Usage This seems to be the most common usage of the term mà ©mà ¨re in French.  To families with an aging or aged grandmother, it is a term of endearment for a loved one who deserves this long-awaited honorific. It is the name children give to their grandmother.  It is, in short, a term of love and respect. When used in direct address, there is no article, as in Je taime  mà ©mà ¨re! (I love you, grandma!)  And thats the way it is, for the most part, in French, French Canadian, and Cajun. In that positive context, it can mean, in English: granny, grandmother, grandma, old dear. Because the concept of a respected grandmother is so ingrained in French culture, it has many French synonyms:  mà ©mà © (the often used short form of  mà ©mà ¨re), grand-mà ¨re, grand-maman,  mamie (often used as mamie et papi (grandma and grandpa), bonne-maman, aà ¯eule (grandmother, forebear, ancestor).   Negative Usage Less frequently,  mà ©mà ¨re is derogatory when it  refers to someone who is not related to you.  It becomes quite offensive when you are not referring to someone specific. Mà ©mà ¨re can  refer negatively to an old stay-at-home woman or to a corpulent, lazy woman (insulting). It is very often associated with  vieille  in the pejorative  sense, as in vieille mà ©mà ¨re or  vieille mamie.   The negative meaning of  mà ©mà ¨re  can also be an old woman who is a gossip; the verb is mà ©mà ¨rer, which means to gossip or to be chatty. A French synonym  for the very pejorative sense of  mà ©mà ¨re could be une vieille dondon (an old fat person).  In Canada, a very negative synonym would be une personne bavarde et indiscrà ¨te; une commà ¨re (a nasty gossip who attacks the reputation of others);  commà ©rer is the verb to gossip). Examples and Expressions (Familiar) Faut pas pousser mà ©mà ¨re / mà ©mà © / grand-mà ¨re dans les orties. You shouldnt go too far. / You shouldnt be mean to people.On taime  mà ©mà ¨re. We love you, grandma.  Tu ne viens pas tasseoir avec ta  mà ©mà ¨re ?   Wont you sit a while with your granny?Au pire des cas, toi, mà ©mà ¨re et Pierre pouvez venir rester avec nous.   If worst comes to worst, you, grandma and Pierre can come stay with us.  Lautre jour, jai vu Anne avec des boucles doreilles de  mà ©mà ¨re. The other day, I saw Anne wearing grandmas earrings.(Pejorative) Viens, mà ©mà ¨re  ! Come on, (old) lady!(Pejorative) Je suis en retard cause que jai eu suivre un vieux mà ©mà ¨re sur lautoroute !   Im late because I had to follow an old woman on the highway!(Pejorative)  Cette  mà ©mà ¨re lui a tout racontà © ! This old lady told him everything!(Pejorative)  Chaque jour, ces vielles  dames vont au restaurant pour  mà ©mà ¨rer. Every day these ol d women go to the restaurant to gossip.

United States women's wages and the wage gap as compared to their male Essay

United States women's wages and the wage gap as compared to their male counterpart - Essay Example The term ‘equality’ seems to be deterring from women even in the 21st century. The period when women are taking giant strides towards successful career and achieving global heights, the demon of equal pay rights and equality at workplace still haunts.Federal government confirmed the earning gap persistent between men and women despite various laws and amendments made by the government (Longley, ‘Why Women Still Make Less than Men’). Despite some dramatic reductions in the male-female pay gap since the 1950’s gender differentials persist in all industrialized nations (Blau and Kahn, 533). Both gender specific factors like gender differences in qualifications and discrimination, and overall wage structure, the rewards for skills and employment in particular sectors, importantly influence the gender pay gap. The large gender pay gap in the United States compared to other advanced countries seems primarily attributable to the very high level of U.S. wage inequality (Blau and Kahn). According to Goldin, the ratio of female to male earnings among full time workers was roughly constant from the 1950s to the early 1980s and the segregation of occupation of sex is substantial and has declined only slightly across the last century (Burstein, 17). According to the American Women, a report prepared by Commission on the Status of Women; the role for women ‘most generally approved by counselors, parents and friends is the making of a home, the rearing of children and the transmission of them in their earliest years of the values of the American heritage. It should be noted that during that period only 10 percent of families were headed by unmarried women and most of the women’s job were in ‘low paid categories’ such as clerical work which is still existent even today as shown in Table 1. However the time is changing rapidly as Shiver reported that in 2009, half of the U.S. workers are female and mothers have become t he primary breadwinners in 4 out of 10 families (A Women’s Nation). However the fact remains that there is large gap in wages between men and women as the gap had widened during 2007 and 2008 as women’s weekly earning on an average was $657 as compared to $819 for men (It’s time for working women to earn equal pay’). Basing on the facts and figures mentioned above, this paper attempts to present analytical discussion on United States’ women wages and wage gap differences as compared to men at workplace. 2. U.S. Women Employment and Wages Figart, Mutari and Power (3) stated that women have been always working which was essential in providing food, clothing and shelter throughout history and across cultures. It took decades before the women first occupied place among the men. Today, women represent nearly half of the U.S. workforce wherein the United States total workforce consisted of 72% men and 58% women in 2010. The labor force participation for women increased from about 33 percent in 1950 to 61 percent in 1999 but has remained less active and spent fewer weeks in the labor force as compared to men (US Dept. of Commerce, Economics and Statistics Administration, 28). According to report ‘Worlds Women 2010’, 90% of the women’s workforce was employed in service sector while only 9% in industry sector and 1% in agricultural sector. The data (Table 1) reveals that there is demand of women in service sector as only 68% men are employed within the sector. Table 1: Distribution of Employment in Developed Countries Source: World’s Women 2010, United Nations (COR) The domination of women in service sector was the result of increasing representation of women among the ranks of managers in organizations in the U.S. which was considered as a dramatic shift in the sex composition of an occupation since clerical work became a female dominated field in the late nineteenth century (Jacobs, 282). It is evident fro m the above data that women are equally contributing to nations GDP as

How do stereotypes affect the perception of male masculinity in the Research Paper

How do stereotypes affect the perception of male masculinity in the workplace - Research Paper Example This kind of profiling ranges from the unequal pay package to the court system. The paper will examine the impact of the male masculinity in the workplace mostly from the effects it has on both genders and accordingly where possible look at the ways that the stereotyping can be rectified in order to bring out the equality in every other workplace. Furthermore as the paper is examining the stereotype from mainly the female angle it should be put into consideration that even the male employees in a workplace also suffer from the kind of discrimination from their other male counterparts in relation to career and association. HOW STEREOTYPES AFFECT PERCEPTION OF MALE MASCULINITY IN A WORKPLACE Stereotyping When it comes to the workplace, gender stereotype can be an awfully traumatizing experience that any person should not undergo. By stereotyping a particular group of people or even having a perception of a particular group of people implies that the persons is being mistreated on the b asis of a predetermined philosophy that in most cases will not be true (Wood, 2012). By stereotyping a particular society it means that we are making a discernment based on objective scrutiny about that particular group of people. Stereotyping can be made on a persons presumption based on their age, race, religion, sexual orientation, and gender. In the workplace the stereotyping exists although measures have been put in place to dissuade the discrimination especially based on the gender of individuals. In the societies, the equitable and fairness work place policies indicate that people are moving away from the notions of gender discrimination into a better and fair society (Paludi, 2012). Furthermore in the past years, laws have been put into place to discourage and prohibit gender discrimination. Male Masculinity Masculinity varies from each and everyone and when various people or societies get into contact with each other their own notion of masculinity has the potential of crea ting conflicts among themselves. By possessing characteristics and qualities typical of any male person it will be qualified to say that that is a perception of having the masculinity. The expression masculinity might be used to portray any human being, animal or even an object that has capability and eminence to be masculine and therefore is not limited to man alone. However Chrisler & McCreary (2010) claim that the usage of the term is mostly to associated with the male qualities in the society. The perception of masculinity was first used in the early 19th century just when the industrial revolution had just began. Swift transformation and advancement of technology has ensured that the standards of living have improved and become well and with this, the description of the term masculinity has also changed. Currently in the present workplace masculinity is definitely an aspect that has to be taken into consideration by directors and also by staff. This is mainly because it plays a critical and unique position in the way people interrelate with one another and outline the system (Hinsdale, Johnson, & Validated Instruction Associates Inc Albion 2010).   In the earliest impression of male masculinity, the concept of maleness and masculinity was that men did not work for the reason that they enjoyed it but somewhat; they did the work for the sole purpose of being called men. After that era men began believing that the worst that possibly

General Electric Case Study Example | Topics and Well Written Essays - 2750 words

General Electric - Case Study Example One such company is Sanyo Epson. ISO 14031 is used globally to evaluate organisations in the "manufacturing, health services, transportation, electric utility and municipal sectors in order to evaluate environmental performance (EPE), provide a basis for performance benchmarking, demonstrate compliance to regulations and increase operational efficiency" (ISO 14031, par. 1) It assists organisations to obtain ISO 14001 certification. Other companies, for instance, General Electric, have focused their efforts mostly inward, with the integration of high-tech programs to track their progress. In today's business environment, performance measurement relates to all aspects of business from leadership to management to employees to customers. It is a method by which company output, brand recognition, cooperation and interaction with other companies are measured. Because GE has expanded its product line to include almost every area of manufacturing, a successful environmental management progra m must be able to cover every phase of their business, from supply chain to operations to marketing. GE has the broadest array of infrastructure products, services and financing in the world, "from Energy to Aviation to Transportation to Water to Oil & Gas" (General Electric 2006, p.

Police Brutality Essay Example | Topics and Well Written Essays - 1250 words

Police Brutality - Essay Example For some police officers, this indiscriminate use of power comes in the form of police brutality. The notion of police brutality captivates and terrifies the public. Police officers assume a position of high power in society in many ways. They are trusted to use their skill and judgment to subdue dangerous criminals, but not to harm them any more than is necessary to get them into the subdued state. It is a tremendous challenge for any human to regulate their emotions and actions in such volatile circumstances, but that is what police are asked to do. When they fail, the result is often a crossing of the line and the use of brutal conduct toward citizens. How does our own thinking affect police brutality? Do the notions held by police and the public shape or influence the forms police brutality takes? A review of criminal justice literature suggests that researchers are much concerned with these questions. My review focused on police brutality and group bias, the effect of police brutality on public opinion, and the code of silence used by many officers to protect others who have committed acts of brutality. Ultimately, these three topics are highly connected with each other and with notions of appropriate conduct by those in authority. Do police officers show up at certain neighborhoods with a greater willingness to use force? Lersch, Bazley, Mieczkowski, and Childs (2008) worked to identify links between the use of police force and specific neighborhood characteristics. Their research question attempted to link specific characteristics of different residential areas with a likelihood of police use of force. The researchers examined a municipal police department in the American South for a full year. They used the department’s own Use of Force reports to gather data. They also used crime tract and census data to study factors such as race and ethnicity, composition of family,

Introduction to philosophy Essay Example | Topics and Well Written Essays - 750 words

Introduction to philosophy - Essay Example It was believed that â€Å"neither water nor any other of the so-called elements, but some other indefinite (apeiron) nature, from which come to be all the heavens and the worlds in them† (Curd). The central theme of the discussion was the question of how the original element is related to the phenomena engendered by it. Heraclitus regards this problem in a majestic and yet paradoxical form. In his teaching, the role that belongs to the water, apeiron and air in the Milesians, is played by the fire - the element that caused a keen interest in all ancient cultures. As is known, fire is both a creative and destructive force that gives life and takes it away. Fire can live both in the hearth, warming human habitation, and in the form of a funeral pile representing the final of the human existence. Heraclitus who saw the fire as a supreme law governing the world recognized the duality of the fire (Curd). Similar to the moment when the flame warms the house and burns it, after his/her birth (i.e. finding a life), a man makes the first step towards death. Opposites are identical. Way up, according to Heraclitus, suggests that there is the way down. The consequence of such an identification of opposites becomes an idea of absolute variability and fluidity of life. Remarkably, even symbolically, that the alternative doctrine of Heraclitus appeared on the opposite edge of the He llenic world - in Italy. This theory was created by Pythagoreans. As well as other pre-Socratics, the Pythagoreans recognized the existence of arche as a fundamental principle of all things and phenomena, but their theory was particularly original, as they considered numbers as arche. â€Å"Pythagoreans conceived of nature as a structured system ordered by number† (Curd). The numbers express accurate and independent from any arbitrary ratio of quantities. To study and understand this or that phenomenon means to measure it. This

Police Brutality Essay Example | Topics and Well Written Essays - 1250 words

Police Brutality - Essay Example For some police officers, this indiscriminate use of power comes in the form of police brutality. The notion of police brutality captivates and terrifies the public. Police officers assume a position of high power in society in many ways. They are trusted to use their skill and judgment to subdue dangerous criminals, but not to harm them any more than is necessary to get them into the subdued state. It is a tremendous challenge for any human to regulate their emotions and actions in such volatile circumstances, but that is what police are asked to do. When they fail, the result is often a crossing of the line and the use of brutal conduct toward citizens. How does our own thinking affect police brutality? Do the notions held by police and the public shape or influence the forms police brutality takes? A review of criminal justice literature suggests that researchers are much concerned with these questions. My review focused on police brutality and group bias, the effect of police brutality on public opinion, and the code of silence used by many officers to protect others who have committed acts of brutality. Ultimately, these three topics are highly connected with each other and with notions of appropriate conduct by those in authority. Do police officers show up at certain neighborhoods with a greater willingness to use force? Lersch, Bazley, Mieczkowski, and Childs (2008) worked to identify links between the use of police force and specific neighborhood characteristics. Their research question attempted to link specific characteristics of different residential areas with a likelihood of police use of force. The researchers examined a municipal police department in the American South for a full year. They used the department’s own Use of Force reports to gather data. They also used crime tract and census data to study factors such as race and ethnicity, composition of family,

The Soul and the Aristotelian Analysis of Human Beauty Essay

The Soul and the Aristotelian Analysis of Human Beauty - Essay Example It is pure by nature and can be corrupted by repetitive negative actions that later on may turn into habits. Basically, the soul is the core of every person that controls the objective mind. It deals with emotions and feelings. Instincts can be attributed to emotions, guts and soul. The spirit or soul carries on the challenges of life when the objective and limited capacity of the objective mind and the body cannot handle anything more. The soul is also the source of one’s strength and the basic foundation of every human being since it cannot deny the needs of every person. It can also bring out the best and maximize the potentials of each human being. It controls the entire being which can be equated as the main essence and purpose in life. The common purpose in the life of human beings is to achieve perfection and in that pursuit, the soul perceives perfection and takes charge of the physical body to take action and turn the concept into reality. The soul serves as the guide in planning the destination in life. It is the inner world where people have dreams, goals and aspirations. Creative people use the inner world and the soul to make and create new things and innovations in the world. The soul plays an important role in defining human beauty. Many people nowadays link beauty to flawless skin, star-like eyes, silky smooth hair, kissable lips, sexiness, strong male image, and everything related to the physical body. The popular culture heavily describes the skin-deep beauty to be more important than the inner qualities. In actuality, both the inner and the outer qualities of human beings constitute the concept of human beauty. It would be hard though to just limit the definition or the meaning of beauty as people have different beliefs. Beliefs drive the lives of people and affect their decision-making process and the manner which they perceive things. The real concept of beauty is best explained by the old but famous saying, â€Å"beauty is in the e ye of the beholder.† It shows how the concept of beauty depends upon the person looking at it. Each human being has his or her own concept of beauty. Some may define beauty through good looks and physique while others may focus on the beauty of the heart and the soul. Others may look at both in varying levels. This only shows that all people are beautiful, and all creatures are also beautiful since the concept of beauty is flexible and subjective. The objective mind or the logical thinking only creates standards on things like beauty to have a unifying concept that can be understood by all people. In the subject of soul and beauty, Aristotelian analysis can be used to study the relationship since the concept involves the logic, the credibility and the emotions. Purpose, context, and subject also affect the relationship of the writer to the readers of the paper. Every aspect and view can greatly influence how soul can help in the understanding of human beauty. Each person is a whole composed of body, mind and spirit or soul that gives the full understanding the credit when all of them are engaged in knowing and learning about concepts such as beauty. By including everyone whether their perception of beauty may be contrasting to the beauty concept of others, all must be included as life does not travel in one path, but in multiple ways as individualism is well-expressed by the existence of the soul. Uniqueness shows how people are

Virtue and Allah Essay Example for Free

Virtue and Allah Essay In the name of Allah, the compassionate, the merciful, all praises are due to you O Allah; all thanks belong to you O Allah We thank you for all you have done in our life, we appreciate you, we adore you and we glorify your only name, O Allah! Guide us among those you have guided O Allah! Forgive us among those you have forgiven O Allah! Empower us among those you have empowered O Allah! Put your blessing on those things you endowed us with O Allah! We seek for your forgivement and turn away from sins O Allah! We have faith in you and we rely upon you O Allah! Bless us with good conduct that would take us near you O Allah! We have submitted ourselves to you, we are faithful to you, and upon you we rely. From you is our beginning and our protection. O Allah! Don’t put us to shame on the day we shall return to you. O Allah! Accept our Prayers and our Fasting, our Standing, Our bending and our Prostration. O Allah! Guide us against the hell fire O Allah! Make us an inmate of paradise O Allah! O Allah! O Allah! O Allah! The Everlasting, the Creator of Heaven and Earth’s, the most high, the most generous O Allah! Increase us in Knowledge and Understanding, make our Academics our friends, and make us graduate in flying colour O Allah! We beseech you against non – beneficial knowledge and hard heart that would always fear Allah O Allah! We implore you with a very useful Knowledge and pious heart and tongue that would be reciting in the of Allah and would always be thankful to Allah O Allah! Guide us against sudden death, accept our prayers, heal our sickness and welcome the death among us O Allah! Purify our sins as white cloth is purified from dirt O Allah! Purify us from our sins, remove our mistakes and take away our sorrows. Presents us with good things and gather for us the best of this world and hereafter. O Allah! Let us end our work with the most beautiful acts. O Allah! You are the forgiver, you like the reenters, please forgive us Suratul – Fathia By sodiq.

Business Ethics In The Context Of Globalisation Commerce Essay

Business Ethics In The Context Of Globalisation Commerce Essay The following document aims at studying Business Ethics in the context of Globalization. In order to do so, let us start with the definitions of the two most important words in the title: 1. Business Ethics Business ethics is the study of business situations, activities, and decisions where issues of right and wrong are addressed. It is worth stressing that by right and wrong we mean morally right and wrong as opposed to, for example, commercially, strategically, or financially right or wrong. Moreover, by business ethics, we do not mean only commercial businesses, but also government organizations, pressure groups, not-for-profit businesses, charities, and other organizations. For example, questions of how to manage employees fairly, or what constitutes deception in advertising, are equally as important for organizations such as CRY, the University of Mumbai, or the Bhartiya Janata Party as they are for Satyam, PG, or Infosys. However, given the high profile of ethical issues in relation to commercial businesses, it is these types of businesses that are predominantly focussed on in general. Business ethics and the law Having defined business ethics in terms of issues of right and wrong, one might quite naturally question whether this is in any way distinct from the law. Surely, the law is also about issues of right and wrong? This is true, and there is indeed considerable overlap between ethics and the law. In fact, the law is essentially an institutionalization or codification of ethics into specific social rules, regulations, and proscriptions. Nevertheless, the two are not equivalent. Perhaps the best way of thinking about ethics and the law is in terms of two intersecting domains (see Figure). The law might be said to be a definition of the minimum acceptable standards of behaviour. However, many morally contestable issues, whether in business or elsewhere, are not explicitly covered by the law. In one sense then, business ethics can be said to begin where the law ends. Business ethics is primarily concerned with those issues not covered by the law, or where there is no definite consensus on whether something is right or wrong. Discussion about the ethics of particular business practices may eventually lead to legislation once some kind of consensus is reached, but for most of the issues of interest to business ethics, the law typically does not currently provide us with guidance. 2. GLOBALIZATION Globalization is the progressive eroding of the relevance of territorial bases for social, economic and political activities, processes and relations. Globalization is not only a very controversial topic in the public debate; it is also a much contested term in academic discourse. Apart from the fact that mirroring the public debate the camps seems to be divided into supporters and critics, there is growing concern about whether globalization is a fact at all. So, for example, some argue that there is nothing like a global economy, because roughly 90 per cent of world trade only takes place either within or between the three economic blocks of the EU, North America, and East Asia, leaving out all other major parts of the globe (Chortarea and Pelagidis 2004; World Trade Organization 2004). Obviously, we have to examine the globalization buzzword more carefully and to develop a more precise definition if we want to understand its character and its implication for business ethics. Scholte (2000) says if we want to get a grasp on the decisive features of globalization, he suggests we can start by looking at the way social connections traditionally took place. These connections, be it personal relations to family members or friends, or economic relations such as shopping or working, took place within a certain territory. People had their family and friends in a certain village, they had their work and business relations within a certain town or even country. Social interaction traditionally needed a certain geographical space to take place. However, this link between social connections and a certain territory has been continuously weakened, with two main developments in the last few decades being particularly important. The first development is technological in nature. Modern communication technology, from the telephone, to radio and television, and now the internet, open up the possibility of connecting and interacting with people despite the fact that there are large geographical distances between them. Furthermore, the rapid development of global transportation technologies allows people to easily connect with other people all over the globe. While Marco Polo had to travel many months to finally arrive in China, people today can step on a plane and, after a passable meal and a short sleep, arrive some time later on the other side of the globe. Territorial distances play a less and less important role today. The people we do business with, or that we make friends with, no longer necessarily have to be in the same place as we are. The second development is political in nature. Territorial borders have been the main obstacles to worldwide connections between people. Only 20 years ago, it was still largely impossible to enter the countries in the eastern bloc without lengthy visa procedures, and even then, interactions between people from the two sides were very limited. With the fall of the iron curtain, and substantial liberalization efforts elsewhere (for instance within the EU), national borders have been eroded and, in many cases, have even been abolished. These two developments mainly account for the massive proliferation and spread territorial connections. These connections may not always necessarily have a global spread in the literal sense of worldwide spread. The new thing though about these connections is that they no longer need a geographical territory to take place and they are not restricted by territorial distances and borders any more. Relevance of globalization for business ethics Globalization as defined in terms of the deterritorialization of economic activities is particularly relevant for business ethics, and this is evident in three main areas culture, law, and accountability. 1. CULTURAL ISSUES As business becomes less fixed territorially, so corporations increasingly engage in overseas markets, suddenly finding themselves confronted with new and diverse, sometimes even contradicting ethical demands. Moral values, which were taken for granted in the home market, may get questioned as soon as corporations enter foreign markets. For example, attitudes to racial and gender diversity in Europe may differ significantly to those in Middle Eastern countries. Similarly, Chinese people might regard it as more unethical to sack employees in times of economic downturns than would be typical in Europe. Again, whilst Europeans tend to regard child labour as strictly unethical, some Asian countries might have a more moderate approach. Consider the case of Playboy, the US adult magazine, which had to suspend its Indonesian edition and vacate the company premises in 2006 in the wake of violent protests by Islamic demonstrators even though the Indonesian edition was a toned down version th at did not show nudity. The reason why there is a potential for such problems is that whilst globalization results in the deterritorialization of some processes and activities, in many cases there is still a close connection between the local culture, including moral values, and a certain geographical region. For example, Europeans largely disapprove of capital punishment, whilst many Americans appear to regard it as morally acceptable. Women can freely sunbathe topless on most European beaches, yet in some states of America they can get fined for doing so and in Pakistan would be expected to cover up much more. This is one of the contradictions of globalization: on the one hand globalization makes regional difference less important since it brings regions together and encourages a more uniform global culture. On the other hand, in eroding the divisions of geographical distances, globalization reveals economic, political, and cultural differences and confronts people with them. It has been said that countries exhibit very different views on the makeup of business ethics. These differences are regarded as based largely in cultural diversity. For example, Japan is considered to have an entirely different set of guidelines than the United States because the cultures of these two countries come from entirely different origins. However, if business ethics are based only in culture then businesses global interactions should instigate much more conflict than currently exists. The basic cultures of Japan and the United States have very little common ground, therefore their views on business ethics would come from entirely opposite directions. Compromising a cultures moral values can be considered extremely difficult; it is much more likely that those same values would try to be imposed upon the other party. With each culture imposing its values on the other, the result would be adamant conflict. However, the rapid growth of global business paints this picture of co nflict as false. Businesses can only expand quickly in global markets by being empathic to the needs, perspectives, and accepted procedures of their foreign counterparts and partners. Therefore, business ethics is not entirely based on the culture from which it is derived. It is based more on a basic human moral understanding that transcends international boundaries. Up to present, ethics have evolved through isolated pockets due to the limited scope of global communications. Todays close communication and cooperation of companies worldwide will have an evening out effect. Business ethics will eventually drive toward one general definition. What exactly constitutes that definition is yet to be determined. The certainty is that the definition will be fluid in nature and change as new principles are accepted and implemented. To know where we are headed we must understand how ethical business practices evolved. Although business ethics is a relatively new study the concept has been aro und since commerce began. For instance, a blacksmith earned his reputation by treating his employees well and his customers fairly. As his reputation grew so did the size of his business. While this is a simplistic example it is meant to show that the concept of fair business practices has existed and contributed to the success of enterprises long before business ethics became an established study. Prior to todays multiple innovations in worldwide communications, business morals in each separate geographical area evolved on their own. Without much influence from the outside world, ethical behaviour was influenced by what was important to the society. What was significant to the society created expectations of fair business practices that have carried through the years? What do societies consider important? Culture and ethics are interrelated and intertwined in such a way that it makes it difficult to know which factor guiding / motivating the behaviour is arising from a given situation. Is it the cultural vision of his/her ethics or is it the ethical vision of his/her culture that guides someone to do or not do certain things. Trompenaars survey questioning peoples reaction to a given situation shows that cultures with more emphasis on human relationships and loyalty (particularists) scored lower than those that emphasized obeying rules (Universalists).    The situation: youre riding in a car driven by a close friend, whos driving at least 35 mph in a 20 mph zone. He hits someone. No witnesses. His lawyer says if you testify under oath that your friend was driving at 20 miles per hour, it might save him from serious consequences. What right has your friend to expect you to protect him?   Lying was more prominent in cultures stressing human relationships, whereas it was less prevalent in cultures stressing rules. Telling the truth is an ethical value that appears in this context. One could say, people in cultures emphasizing human relationships would most likely lie to protect the relationship; whereas, people in cultures putting a greater value on rules would lie less in order to abide by the rule. Adler differentiates between cultures that are universally oriented (all rules apply to everyone) and particularly oriented the nature of the relationship determines how someone will act in a particular situation. When it comes to the actual experience of the individual in question it is not certain if that person is motivated by cultural influences and/or ethical implications of his/her act and/or decision. Paul Ricoeur suggests three positions in ethical development: 1) the self 2) relations with others, 3) institutional. Through this process of moral integration, the se lf eventually becomes autonomous (auto self- nomous norms which becomes understood as self-regulatory) in its experiences and interactions with others and institutions. The self internalises the cultural norms and values through socialization (being in the world with others).    2. LEGAL ISSUES A second aspect is closely linked to what we said previously about the relation of ethics and law. The more economic transactions lose their connection to a certain regional territory, the more they escape the control of the respective national governments. The power of a government has traditionally been confined to a certain territory, for example: French laws are only binding on French territory, UK laws on UK territory, and so on. As soon as a company leaves its home territory and moves part of its production chain to, for example, a third world country, the legal framework becomes very different. Consequently, managers can no longer simply rely on the legal framework when deciding on the right or wrong of certain business practices. If, as we said earlier, business ethics largely begins where the law ends, then deterritorialization increases the demand for business ethics because deterritorialized economic activities are beyond the control of national (territorial) governments. For example, global financial markets are beyond the control of any national government, and the constant struggle of governments against issues such as child pornography on the internet shows the enormous difficulties in enforcing national laws in deterritorialized spaces.   A behavior may be perceived as ethical to one person or group but might not be perceived as ethical by another. Further complicating this dichotomy of behavior, laws may have been legislated, effectively stating the governments position, and presumably the majority opinion, on the behavior. As a result, in todays diverse business environment, one must consider that law and ethics are not necessarily the same thing. Though law often embodies ethical principles, law and ethics are far from co-extensive. The law does not prohibit many acts that would be widely condemned as unethical. And the contrary is true as well. The law also prohibits acts that some groups would perceive as ethical. For example lying or betraying the confidence of a friend is not illegal, but most people would consider it unethical. Yet, speeding is illegal, but many people do not have an ethical conflict with exceeding the speed limit. Law is more than simply codifying ethical norms. Establishing a set of ethi cal guidelines for detecting, resolving, and forestalling ethical breaches often prevents a company from getting into subsequent legal conflicts. Having demonstrated a more positive approach to the problem may also ensure that punishment for legal violations will be less severe. Some activities and beliefs may be legal, but not perceived as ethical. Marriott Corporation maintains very comprehensive ethics standards to which their employees must abide. Their Corporate Dress Code is an example. Several years ago, the orientation program at Marriott Corporate Headquarters included a presentation on what was and was not considered acceptable appearance in the company. Some requirements included: Women could not wear skirts any shorter than 4 inches above the knee. Women could show no bare leg. Either long pants or hose were required at all times. Womens shoulders could not be exposed. Mens hair could not reach their collar, except for religious reasons. Men could not wear earrings. Although these rules were part of company policy, there is nothing illegal about any one of these items. However, in the Marriott Corporate culture, each was considered unethical. Another example is the manufacturing practices of Nike, one of the largest manufacturers of athletics sportswear in the world. Nike produces the majority of its goods in South East Asia. Despite the profits of the Nike organization, its foreign workers are paid substandard wages and work long hours in appalling conditions. In 1996, the entry-level wage at one of these factories was $2.20 a day. Labour groups estimate that a liveable wage in Indonesia is about $4.25 a day. Compare this with the pay of one of Nikes celebrity promoters, Michael Jordan, who gets $20 million a year to promote Nike sneakers. Jordans compensation alone is more than the annual income of 20,000 workers who make Nike shoes. Nikes manufacturing practices are not illegal. There is nothing that says a company cannot take its manufacturing operations outside the United States. And as long as the company is meeting the minimum wage standards of the host country, there is nothing illegal about paying low wages. However, most Americans would look at these practices as unethical, especially considering the profits of Nike and their spending on celebrity promoters. Clearly, there is a relationship between law and ethics, and this relationship is important in management. Managers must evaluate not only what is legal, but what they, their employees, and society consider ethical as well. Important here is that companies must also consider what behaviours their customers will and will not accept. The news is full of stories regarding the ethical issues with which companies are being confronted, such as the practices of Nike, as outlined above. No company wants to be forced to defend itself over ethical issues involving wages, the environment, working issues, or human relations. Managers play a vital role in a companys legal and ethical performance. It is in part their responsibility to ensure that their employees are abiding by Federal, State, and Local laws, as well as any ethical codes established at the company. But most importantly, the managers must provide a positive example to their employees of proper behaviour in light of laws and ethical codes. Certainly, policies and procedures will never be developed to satisfy everyone, but the establishment of Codes of Ethics will at least provide a framework for ethical behavior, and allow customers to evaluate the type of company with whom they are doing business. With this knowledge, employees and customers must decide whether or not they are willing and able to conform to these Codes, as well as to the laws that have been enacted. Managers cannot simply limit their decisions to following the law. They must also consider the ethics of their employees and customers. 3. Accountability issues Taking a closer look at global activities, one can easily identify corporations as the dominant actors on the global stage: MNCs own the mass media which influences much of the information and entertainment we are exposed to, they supply global products, they pay peoples salaries, and they pay (directly or indirectly) much of the taxes that keep governments running. Furthermore, one could argue that MNCs are economically as powerful as many governments. For example, the GDP of Denmark is about the same as the turnover of General Motors. However, whereas the Danish government has to be accountable to the Danish people and must face elections on a regular basis, the managers of General Motors are formally accountable only to the relatively small group of people who own shares in the company. The communities in the US, Brazil, or Germany that depend directly on General Motors investment decisions however have next to no influence on the company and, unlike a regional or national governm ent, General Motors is, at least in principle, not accountable to these constituencies. What this means is that the more economic activities get deterritorialized, the less governments can control them, and the less they are open to democratic control of the affected people. Consequently, the call for direct (democratic) accountability of MNCs has become louder during the last years, evidenced for example by the anti-globalization protests that we mentioned before. Put simply, globalization leads to a growing demand for corporate accountability. The corporate community has been shocked to attention by the recent corporate governance meltdowns. The silver lining is that these scandals are resulting in better financial oversight and more focused attention on the ethics of directors, officers, auditors and others. But while promises of increased ethical conduct focus the publics attention, self-scrutiny and accountability are also essential.   Ethics is easier in concept than in application. Codes of ethics are not new. Nor are efforts to encourage ethical corporate practices. In 1991, Congress enacted the U.S. Federal Sentencing Guidelines. These guidelines had a major impact on corporate America and were an effort to positively induce companies to prevent unethical activity by providing mitigation of some punishment and reductions of fines for companies that proactively made a good faith effort to take steps to prevent unethical activity. Congress used the stick and the carrot approach to provide an incentive for companies to create or modify their ethics programsgood behavior is rewarded when companies involve themselves in crime controlling actions. Elements of an effective compliance program under the Guidelines include a code of conduct or ethics; oversight by high-level personnel; due care when delegating authority; effective training and communication; auditing and monitoring and reporting mechanisms; enforcement o f disciplinary mechanisms; and appropriate response after detection.  Five years later, a court case provided another wake-up call. In 1996, a court in Delaware held a board of directors responsible for the unethical and illegal actions of the organization and its employees. This case caught the attention of corporations and led some companies to institute compliance and reporting structures.   Of course, the Sarbanes-Oxley Act of 2002 has gotten the most attention recently. Sarbanes-Oxley was enacted in response to the conduct of corporations such as World Com, Enron and Arthur Andersen. While Sarbanes-Oxley largely affects only publicly traded companies, it has led to a trickledown effect. Its requirement that all publicly held corporations disclose whether or not they have a code of ethics for its Chief Financial Officers have led privately held companies and non-profit corporations to enact codes of ethics. The trend is that more companies are adopting and using codes of ethics.   There are several benefits of a formal ethics policy. As described above, there are legal benefits in the form of reduced fines and penalties. However, an ethical working environment is another important benefit. A formal ethics policy can lead to decreased job dissatisfaction, decreased pressure to violate ethical standards, improved communication, increased trust in management, greater consistency in decision-making, and fewer violations of law and regulation, just to name a few. Pragmatically, it is often true that good ethics equals good business. Consumers, employees, and vendors lose trust in companies which engage in unethical activities. Companies that promote trust, honesty, integrity, fairness and respect generally have an easier time attracting quality employees.   Less observable, a strong ethical environment can encourage conversations about ethical issues, questions, and gray areas. It can also provide a comfortable environment for employees to seek guidance and raise concerns. When given the opportunity to communicate expectations and requirements, a company can proactively influence its employees and officers to avoid unethical conduct and violations of law. A formal ethics policy reminds employees and officers what the company deems the right thing to do. IMPLEMENTING A CODE OF ETHICS Groucho Marx once said that The secret of life is honesty and fair dealing. If you can fake that, youve got it made. Ethics is a lot easier in theory, but ethical conduct cannot be faked. Implementing a code of ethics policy takes careful study, time and training. A code of ethics can apply not just to individualsboard members, officers and employeesbut also to aspects of the companys businessethical investing and pension fund management.   In adopting a code of ethics, a business must decide what type of code to adopt. Does it want a simple statement of aspirational values or does it want a complex manual that describes the companys rules and regulations and which provides detailed guidance about what conduct is not acceptable? What are the companys core values? How does the company want directors, officers and employees to reflect those values?   Codes of ethics are usually broken down into two types (or a hybrid of the two): values-based code of ethics and compliance-based code of ethics. A corporate values statement is an aspirational document which is based on underlying values or principles. It is not easy to enforce. A compliance-based code of ethics is a compliance document that emphasizes rules and written procedures, and, therefore, is easier to enforce. A hybrid consists of a statement of organizational values and how those values are to be applied. For example, because communications should reflect the ethics of the company, a code of ethics that has honesty as a core value may require that internal and external communications be truthful and respectful. The company may also require that product or service claims must be honest, straightforward and defensible. However, as with any company policy, it is important that this new code be reviewed by legal counsel before being formally incorporated into the companys poli cy.   Once the code of ethics policy is adopted, it must be communicated, enforced and effectively monitored. There is a natural reluctance to talk about ethics and values; however, a company can integrate discussions of ethics into decision-making, and encourage employees to raise ethical concerns. This can be done through training, providing whistleblower procedures, monitoring and rewards. Almost every company will have employees that made the correct decision in spite of the difficulty in doing so. Communicating these stories is one way to make ethics more meaningful. Employees should understand the companys core values and why they are core values. The company should ensure that its decision-making process factors in the companys code of ethics.   The ethics policy should also be communicated to board members and employees before they join the company; if the companys products and services and the kinds of decisions needed to be made and actions to be taken are communicated, the potential employee or board member can decide whether employment with the company is consistent with their values. CONCLUSION In conclusion we would like to depict the effect that Globalization will have on the ethical behavior and understanding of various stakeholders in a global business environment. STAKEHOLDERS ETHICAL IMPACTS OF GLOBALIZATION Shareholders Globalization provides potential for greater profitability, but also greater risks. Lack of regulation of global capital markets, leading to additional financial risks and instability. Employees Corporations outsource production to developing countries in order to reduce costs in global marketplace this provides jobs but also raises the potential for exploitation of employees through poor working conditions. Consumers Global products provide social benefits to consumers across the globe but may also meet protests about cultural imperialism and westernization. Globalization can bring cheaper prices to customers, but vulnerable consumers in developing countries may also face the possibility of exploitation by MNCs. Suppliers and Competitors Suppliers in developing countries face regulation from MNCs through supply chain management. Small scale indigenous competitors exposed to powerful global players. Civil Society (Pressure groups, NGOs, etc.) A global business activity brings the company in direct interaction to local communities with possibility for erosion of traditional community life; globally active pressure groups emerge with aim to police the corporation in countries where governments are weak and tolerant. Government and Regulation Globalization weakens governments and increases the corporate regulation for jobs, welfare, maintenance of ethical standards, etc. Globalization also confronts governments with corporations from different cultural expectations about issues such as bribery, corruption, taxation, and philanthropy.