The Planets Gustav Holsts Suite Essay Example For Students

The Planets Gustav Holsts Suite Essay After choosing what bit of music to expound on it was hard to choose, since before taking this class the main old style performer I knew was Beethoven. Nonetheless, I ran over the planets. So I chose to give I attempt. It just took a play button, which shipped me into a universe of puzzle. As the orchestra began with damages I felt just as I was going in a space boat of those that went ahead the star wars adventure. It as the melody advanced it felt as if there was a fight in space. Leaning to this while in obscurity made it simpler for me to perceive what was truly occurring. We will compose a custom paper on The Planets Gustav Holsts Suite explicitly for you for just $16.38 $13.9/page Request now I can see projectiles fly by me ever nearer, until this slug hit me and the boat pieces scatter into space as the melody did as well. There is a snapshot of quiet when am stir in to the universe of ruler of the rings. I see my self at the mythical people garden remaining in the manors gallery taking a gander at the roses. As the piece props up I see my dark mists covering the skyline, with murkiness and puzzle upon. For reasons unknown there is a feeling of harmony despite the fact that at certain parts it feels as thought there is a war going to begin. This caused me to feel like this was countering, similar to they say after the tempest the sun will come out. Next was mercury a risky. t first it felt as thought I was fleeing from a person or thing. In any case, it doesn’t feel like I’m fleeing from something hazardous. As the piece propped up I began to perceive any reason why I was running, I was running like Bambi in the Disney film. I can see winged creatures and butterflies, flying on my head around and around. I began to run with the feathered creatures quicker and quicker creation my war over a major green field. I don’t know why this picture goes to my heard yet as continue listening a can see a ton of creatures running as well. They are bouncing over the green field. Jupiter begins and with it I begin to recollect my grandmother back home. I can see her rolling in from a long excursion. I can see her coming nearer to me carrying only a grin to my face. As viola and baritones show up, I can envision our rejoin. This piece just brings picture of cheerful closure, similar to those of Disney films. I can see individuals tossing confetti to the sky, celebrating and separating. This joy is abruptly, cleaned away, in light of the fact that with the beginning of Saturn. I hear something moving toward me gradually and gradually. It's anything but a terrifying thing coming yet it is a feeling of acknowledgment. I see that the individual coming is me yet as an elderly person. I look delicate and delicate. I see my self-strolling gradually and for each progression I make my strides become increasingly slow. As the piece advances, I begin to hear ringers. This piece simply bring trouble into my head everything I can think currently is that for consistently that passes by I am close to the end. In any case, the finish of what? I don’t comprehend. As Saturn arrives at the end I see the former me simply remaining there without moving. It appears as thought the end has come, similar to the torment and everything occurring in life has at long last stop. Uranus stars and I can envision a mammoth man strolling along a monster walkway. In the walkway I can see a ton of troopers walking. There is an inclination of secret with the piccolo and clarinets. Neptune was the last piece. This was my preferred one since it had something that the remainder of different planets didn't and that is a ladies tune. This gives a sentiment of going into paradise an arriving at the heavenly one. .uf1f0d1fb3fa8082f741b6f8ca03afda7 , .uf1f0d1fb3fa8082f741b6f8ca03afda7 .postImageUrl , .uf1f0d1fb3fa8082f741b6f8ca03afda7 .focused content territory { min-stature: 80px; position: relative; } .uf1f0d1fb3fa8082f741b6f8ca03afda7 , .uf1f0d1fb3fa8082f741b6f8ca03afda7:hover , .uf1f0d1fb3fa8082f741b6f8ca03afda7:visited , .uf1f0d1fb3fa8082f741b6f8ca03afda7:active { border:0!important; } .uf1f0d1fb3fa8082f741b6f8ca03afda7 .clearfix:after { content: ; show: table; clear: both; } .uf1f0d1fb3fa8082f741b6f8ca03afda7 { show: square; progress: foundation shading 250ms; webkit-change: foundation shading 250ms; width: 100%; mistiness: 1; progress: darkness 250ms; webkit-change: obscurity 250ms; foundation shading: #95A5A6; } .uf1f0d1fb3fa8082f741b6f8ca03afda7:active , .uf1f0d1fb3fa8082f741b6f8ca03afda7:hover { murkiness: 1; change: haziness 250ms; webkit-change: haziness 250ms; foundation shading: #2C3E50; } .uf1f0d1fb3fa8082f741b6f8ca03afda7 .focused content zone { width: 100%; position: relative; } .uf1f0d1fb3fa8082f741b6f8ca03afda7 .ctaText { fringe base: 0 strong #fff; shading: #2980B9; text dimension: 16px; textual style weight: striking; edge: 0; cushioning: 0; text-enrichment: underline; } .uf1f0d1fb3fa8082f741b6f8ca03afda7 .postTitle { shading: #FFFFFF; text dimension: 16px; textual style weight: 600; edge: 0; cushioning: 0; width: 100%; } .uf1f0d1fb3fa8082f741b6f8ca03afda7 .ctaButton { foundation shading: #7F8C8D!important; shading: #2980B9; outskirt: none; fringe sweep: 3px; box-shadow: none; text dimension: 14px; text style weight: intense; line-tallness: 26px; moz-outskirt span: 3px; text-adjust: focus; text-enhancement: none; text-shadow: none; width: 80px; min-stature: 80px; foundation: url(https://artscolumbia.org/wp-content/modules/intelly-related-posts/resources/pictures/straightforward arrow.png)no-rehash; position: supreme; right: 0; top: 0; } .uf1f0d1fb3fa8082f741b6f8ca03afda7:hover .ctaButton { foundation shading: #34495E!important; } .uf1f0d1fb3fa8082f74 1b6f8ca03afda7 .focused content { show: table; tallness: 80px; cushioning left: 18px; top: 0; } .uf1f0d1fb3fa8082f741b6f8ca03afda7-content { show: table-cell; edge: 0; cushioning: 0; cushioning right: 108px; position: relative; vertical-adjust: center; width: 100%; } .uf1f0d1fb3fa8082f741b6f8ca03afda7:after { content: ; show: square; clear: both; } READ: Music downloading, unlawful or not ? EssayI can see others coming to the sky just as the ladies ensemble gets together with the ringers. The sentiment of arriving at the finish of the ensemble, is remarkable the ladies tune begins to become grow dim gradually turning out to be fainter until there is a slight distinction among quiet and sound. I was left trilled in the wake of tuning in to this orchestra. I never felt along these lines it was an astonishing encounter feeling as thought I was flying through the universe of the universe. Anyway I wonder if there is Pluto. Furthermore, if there is I’m getting it would most likely give pictures of obscure and puzzle.

Nutrition Workout Log Essay Example for Free

Nourishment Workout Log Essay Did you meet your dietary objective? Clarify why you did or why you didn't meet your objective. Indeed I met my objective since I just drank one jar of pop for supper in an entire day. Normally I drink around 3 per day, so I’m attempting to bring down my soft drink admission regular. Clarify why your wholesome objective is essential to look after wellbeing. My nourishing objective is critical to keep up great wellbeing in light of the fact that the corrosive is high in pop. I understood that soft drink eats the internal layer of your stomach and furthermore eats the polish off your teeth. Did you experience any difficulties as you strived to meet your objective? Indeed, It was difficult for me to arrive at my objective on the grounds that im used to drinking soft drink on various occasions a day. I began drinking more water so it got my brain off of drinking pop. Did seeking after your healthful objective upgrade your physical movement in any capacity? Why or why not? Truly, when I drank less soft drink I understood that I wasn’t as worn out, and furthermore wasn’t as ravenous. At the point when I worked out I had more vitality and rested easy thinking about myself. Wellness Test Comparison: (worth 20 focuses) Repeat the body creation wellness test from the Getting Started exercise. Analyze your unique body creation result (weight file or BMI) with your present body sythesis result(body mass list or BMI). Work out your unique score and status, alongside your present score and status. Unique score ___26. 2_______ Current score ___24. 7________ Did your outcomes improve? Why or why not? Indeed my outcomes improved since the start. I’ve been turning out to be more and eating more beneficial food to attempt to improve myself off over the long haul. Date Warm-Up Physical Activity Intensity (Light, Medium, or High) Cool-Down Mins 10/17/12 Body extends Running Medium-High

How are you building your life

How are you building your life An elderly carpenter was ready to retire. He told his employer-contractor of his plans to leave the house building business and live a more leisurely life with his wife enjoying his extended family. He would miss the paycheck, but he needed to retire. They could get by.The contractor was sorry to see his good worker go and asked if he could build just one more house as a personal favor. The carpenter said yes, but in time it was easy to see that his heart was not in his work. He resorted to shoddy workmanship and used inferior materials. It was an unfortunate way to end his career.When the carpenter finished his work and the builder came to inspect the house, the contractor handed the front-door key to the carpenter. This is your house, he said, my gift to you. What a shock! What a shame! If he had only known he was building his own house, he would have done it all so differently. Now he had to live in the home he had built none too well.So it is with us. We build our lives in a dis tracted way, reacting rather than acting, willing to put up less than the best. At important points we do not give the job our best effort.Then with a shock we look at the situation we have created and find that we are now living in the house we have built. If we had realized, we would have done it differently. Think of yourself as the carpenter. Think about your house. Each day you hammer a nail, place a board, or erect a wall. Build wisely. It is the only life you will ever build. Even if you live it for only one day more, that day deserves to be lived graciously and with dignity. The plaque on the wall says, Life is a do-it-yourself project. Who could say it more clearly? Your life today is the result of your attitudes and choices in the past. Your life tomorrow will be the result of your attitudes and the choices you make today.Author Unknown

The Rave Subculture Essay - 2619 Words

The dizzying laser lights flashed in synchronicity with the pulsating bass of the music that bounced off the psychedelic warehouse walls. As my boyfriend and I mentally attempted to organize the chaos surrounding us, we pushed our way through the crowd of spasmodic lunatics who contorted their bodies in time with the music and lights. We located a couch in a room covered with cartoonesque, hyper-graphic graffiti. An androgynous man sat himself at my feet and began massaging my thighs, while a girl with her eyes rolled back into her head demanded that my boyfriend give her a massage. Just then the deejay laid his head in my lap, told me he was in love with me, and placed a bitter pill on my tongue. This certainly was the most bizarre method†¦show more content†¦This paper offers an introductory glimpse into the rave subculture for members of mainstream culture. The exploration includes rave artifacts, lexicons, and mysterious rituals. Based on two years of ethnography in the rave scene combined with published documentation, a survival guide for attending raves is offered for the naive, but curious. To survive in the rave subculture, possessing both the artifacts (nonverbal communication) and lexicon (verbal communication) are imperative. Artifacts include appropriate clothing, essential supplies, and psychedelic toys. Examples of interesting and unusual artifacts will be used throughout the paper to give the reader a vicarious rave experience. Insider lexicon phrases include codes for illegal substances, group rituals, and dance music. The reader will be taught some of the unique rave jargon, so that he or she can speak rave. Although there is no definitive source on the etymology of the term rave, most ravers agree that the term originally referred to raving about the secret, decadent parties. There is also no universally agreed upon definition for the term, but a few examples will serve to conceptualize the term. Bradburn’s (Jul. 1993) broad definition is of a new phenomenon that is more of a spontaneous happening that brings people together for dancing in various locations. More specifically, Saltonstall (1995) defines raves as all-night dance parties that moveShow MoreRelatedMusic : The Rave Subculture1812 Words   |  8 Pagesnowadays. EDM is known as rave subculture that is characterized by wild parties with loud music, neon lights or laser shows, fireworks show, live DJ, alcohol, and drugs. In addition, rave subculture is involved with youth, mostly from the of fifteen to thirty who enjoy standing all night listening is to music and dance with electronic music. Thus, for many young people, rave phenomenon is a norm that is embedded within the culture of their social life. What is the rave subculture? This is a question thatRead MoreSubculture/Counterculture of Raves1834 Words   |  8 Pages10 October 2011 Raves and Ecstasy Rave. What does one think of the word rave? Does ranting and raving come to mind as a way of communication or does flashing lights, dance music, and the use of drugs come to mind? If the youth of society were to be asked this question, every single of one of them would refer the word rave as a party filled with dance music and ecstasy. This youth movement has evolved into an electronic music subculture known as rave (Morris 1). A subculture is a separate worldRead MoreIs Dance Music a Subculture or Has it Now Become a Culture in its Own Right?967 Words   |  4 Pages Is Dance Music a Subculture or Has it Now Become a Culture in its Own Right? Classically subcultures define themselves as other and subordinate to the dominant culture. Many cultural theorists such as Stuart Hall and Dick Hebdige have been chiefly concerned with the ways in which subcultures subvert and pose a resistance to the established order through their expressive dress codes and rituals. Dance music seems to depart from these theories of youth cultureRead MoreOn Raves and Club Drugs1058 Words   |  4 Pagesthis subculture, the rave subculture. After many years of this kind of happiness I asked myself many questions. Where did this come from? How long has it been in this social world? Is it going anywhere or is it just a dead end in our life where we cannot move forward? I wanted to know many facts about this subculture to understand its existence and don’t get confused between the feeling what just drugs give and the real feeling of being part of something special. First of all what is rave? HowRead MoreElectro House Subculture1053 Words   |  5 PagesSubculture: Electro House Raver The hallway is dark and all you hear are melodic beats getting steadily louder growing with your anticipation as you walk closer to the entrance. The hallway opens up to a huge warehouse stuffed with ravers. Strobe lights blind you at first but their inviting energy gets you in the mood. Up front is a DJ mixing continuous beats making the floor pulsate. All of your senses are heightened giving everything movement and energy. Electro House is more than just a genreRead MoreEscape From Wonderland645 Words   |  3 Pagesat rave parties while they vibe and dance to electronic music from sunset to the early morning. In the late fifties, â€Å"rave† was first used in Britain as a title for the wild bohemian parties that occurred at the time. It was then briefly revived by the mods, a British youth subculture of the early to mid-1960s, and did not return into the trend until the illegal warehouse party scene in London in the early eighties. â€Å"The crowd was mixed, black and white, and it is likely that the term rave cameRead MoreEssay On Edm1249 Words   |  5 Pagesduring the buildups of their songs before the drop. This supposedly garners a positive reaction from the audience who is rolling and have a heightened sense of hearing. These traits can still be found in EDM today. Many of the common practices at raves stem from the use of MDMA as well. For example, light shows are frequently performed by ravers. During a light show, one person will take small handheld lights or wear gloves with lights attached on the fingertips and wave them in rapid complex motionsRead MoreThe Subculture Of Consumption History And Origins2409 Words   |  10 Pageswith the theme of oceanic concepts. Seapunk as its own subculture has its own lifestyle incorporating history, how they differ from other groups, dress behavior, and satirical styles and rules. Discussion Subculture of consumption background information Subculture of consumption history and origins. Seapunk is a virtual aesthetic of music and art forms, generally surrounding oceanic concepts, blue hues, and the 90s rave era. This subculture is birthed out of the Internet, using social media sitesRead MoreImpact of Party Drugs on the Youth Culture Essay1507 Words   |  7 Pagesadolescence is a time for the construction of a unique self identity, it is also a time when a sense of belonging is engendered through common cultural construction. One subset of this cultural construction is the rave party scene that is a global phenomenon of the youth subculture (Shapiro, 1999). A rave party is often a large gathering of young people in an atmosphere where there is music and laser lights. This sub-culture is linked to the drug culture through party drugs such as ecstasy and ketamine. TheRead MoreDance Music and Moral Panic3609 Words   |  15 Pagesamplification and misunderstanding regarding issues surrounding drug misuse as well as the creation of a moral panic in mainstream society . In this assignment an examination of this aforementioned misunderstanding and the connection between musical genres, subculture and labelling will be discussed in relation to Cohen’s theory regarding moral panics. An examination of two differentiating genres of music and culture will be given to assess the relevance of Cohen’s ontological assumptions regarding the creation

The Rise and Fall of the Internet Bubble - Free Essay Example

Sample details Pages: 10 Words: 2932 Downloads: 1 Date added: 2017/06/26 Category Information Systems Essay Type Argumentative essay Did you like this example? The Rise and Fall of the Internet Bubble Introduction What was the Internet bubble? à ¢Ã¢â€š ¬Ã…“A bubble occurs when investors put so much demand on a stock that they drive the price beyond any accurate or rational reflection of its actual worth, which should be determined by the performance of the underlying companyà ¢Ã¢â€š ¬Ã‚  (Beattie, 2014). The Internet bubble was the boom in the share prices of stocks of the dot-com companies (Folger, 2011). The dot-com companies offered goods and services for free at first because they expected to build enough brand awareness to gain revenue off their services in the future. The Internet companies reflected the business-to-consumer, consumer-to-business, and consumer-to-consumer aspects of e-commerce. à ¢Ã¢â€š ¬Ã…“Business-to-consumer is an e-commerce model in which businesses sell to individual shoppersà ¢Ã¢â€š ¬Ã‚  (Turban, King, Lang, 2011a, p. 8). à ¢Ã¢â€š ¬Ã…“Consumer-to-business is an e-commerce model in which individuals use the Internet to sell products or services to organizations or individuals who seek sellers to bid on products or services they needà ¢Ã¢â€š ¬Ã‚  (Turban et al., 2011a, p. 9). à ¢Ã¢â€š ¬Ã…“Consumer-to-consumer is an e-commerce model in which consumers sell directly to other consumersà ¢Ã¢â€š ¬Ã‚  (Turban et al., 2011a, p. 9). In the 1990s, the impact of technological devices driven from the e-commerce occurring on the dot-com companiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ websites was opening the eyes of many investors. The investors were seeing the return from their investments because of the desire for e-commerce websites bringing the world closer than ever at the time with social media sites, online travel agencies, and online department stores. However, investors were pricing shares beyond the performance level of these new Internet companies, and companies invested in technology will go as far as they can to stay on top and sometimes that can be too far. In vestors would see a sudden crash by 1999 that would ruin several Internet companies for good. This would be known as the rise and fall of the Internet bubble. I will first give a briefing on the rise of the Internet bubble because it is important to be informed on that aspect before a person can understand the significance of the fall of the Internet bubble. I will then inform you on what happened during the fall of the Internet bubble. It is also important to be informed on why this fall of the Internet bubble occurred. I will refer to some preventative actions that could have been taken to stop the unsafe surge of valuation of the Internet companies. I will report on the companies that survived after the fall of the Internet bubble, and the companies that have diminished because of the fall of the Internet bubble. My goal is for you to understand how important the fall of the Internet bubble was because of how it affected the future of many Internet companies that we are famili ar with today. The Rise of the Internet Bubble In the 1990s, the world was able to use technology that would allow people to shop, communicate, and receive news without having to leave the comfort of their own home (Smith, 2011). This technology was the Internet, and it withheld all of the dot-com companies. Like companies that are not connected with the Internet, these companies were getting investors interested. There were online companies that had great ideas that were sure to bring in revenue. Investors started buying shares of stock because they were optimistic that à ¢Ã¢â€š ¬Ã…“companies that operated online would be worth millions of dollarsà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). The new dot-com companies along with their investors saw à ¢Ã¢â€š ¬Ã…“record-setting growth as the companies experienced sudden rises in their stock pricesà ¢Ã¢â€š ¬Ã‚  (Chichoni, 2013). They took this as a sign to à ¢Ã¢â€š ¬Ã…“move faster in their expansion and with less caution than usua là ¢Ã¢â€š ¬Ã‚  (Chichoni, 2013). The companies were so excited to see that their ideas were being valued so high, which was making even more investors interested. However, the companies and investors forgot that there must be enough revenue to support the debt, dividend payouts, and other financial factors of a business (Smith, 2011). There was not enough revenue coming in for these high-valued dot-com companies, so they were about to see a crash of the bubble that would cause the demise of several of the companies. The Fall of the Internet Bubble Unfortunately, due to many factors during the time of the Internet bubble in the 1990s, the dot-com companies saw a fall of the Internet bubble, also known as a crash. à ¢Ã¢â€š ¬Ã…“A crash is a significant drop in the total value of the market, almost undoubtedly attributable to the popping of a bubble, creating a situation wherein the majority of investors are trying to flee the market at the same time and consequently incurrin g massive lossesà ¢Ã¢â€š ¬Ã‚  (Beattie, 2014). Investors were trying to sell the shares that they had invested in with the companies that they overvalued because they did not want to completely lose the funds that they had invested. à ¢Ã¢â€š ¬Ã…“The collapse of the Internet stocks caused the 2001 stock market crash even more than the September 11, 2001, terrorist attacks. The market crash cost investors five trillion dollarsà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). There were companies that were able to survive from the crash but not before they saw major loss in the value of their ideas. Many had to revise their business models so that investors would be interested once again. Investors took on huge losses, but many of them were not afraid to invest in the companies that were able to build even better business models than before the crash. Several companies were not able to pick themselves back up after the crash, but there are companies that have become the most powerful in the world that experienced loss from the crash. Investors seem to get the biggest blame for the burst of the Internet bubble, but it certainly involved the dot-com companies that had not become secure enough in their brand as well. Cause of the Fall of the Internet Bubble There is not one distinct cause that can be connected to the burst of the Internet bubble. Investors were so excited about the funds that could come from the concept of dot-com companies that they forgot to focus on the aspects of generating revenue or cash flow (Smith, 2011). à ¢Ã¢â€š ¬Ã…“In addition to not focusing on the necessary aspects, analysts used very high multipliers in their models and formulas for valuing Internet companies, which resulted in unrealistic and overly optimistic valuations of the Internet companiesà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). Before the crash occurred, the à ¢Ã¢â€š ¬Ã…“newer Internet companies were being overvalued by 40 percentà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). This was not entirely the analysts fault because the companies should have also given their input on the long-term results of their business models. These companies were new at implementing their ideas and were à ¢Ã¢â€š ¬Ã…“staffed with individuals that did not have the necessary experience or goals to work in the industryà ¢Ã¢â€š ¬Ã‚  (Gokli, 2007), so they were not yet comfortable with valuing their own work. Instead, these companies were hoping that investors were captivated enough by their ideas so that they did not need to have solid long-term business plans at the time (Gokli, 2007). à ¢Ã¢â€š ¬Ã…“In the mid to late 1990s, societyà ¢Ã¢â€š ¬Ã¢â€ž ¢s expectations of what the Internet could offer were unrealisticà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). à ¢Ã¢â€š ¬Ã…“Internet entrepreneurs were captivated with dreams of becoming dot-com millionaires and billionairesà ¢Ã¢â€š ¬Ã‚  (Smith, 2011), and they were going use any funds they could to make those dreams come true. This included letting investors overvalue their companies so that they could gain more dollars per share (Gokli, 2007). à ¢Ã¢â€š ¬Ã…“Most dot-com companies would spend the investorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ money without having to be monitoredà ¢Ã¢â€š ¬Ã‚  (Gokli, 2007). à ¢Ã¢â€š ¬Ã…“Many investors ignored the fundamental rules of investing in the stock market, such as analyzing P/E ratios, studying market trends, and reviewing business plans. Instead, investors and entrepreneurs became preoccupied with new ideas that were not yet proven to have market potentialà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). Prevention for the Fall of the Internet Bubble During the time of the Internet bubble, companies saw an unsafe surge in valuation. There were methods of prevention that could have been followed then and should be followed now to make sure that another Internet bubble is avoided. Companies need to realize that à ¢Ã¢â€š ¬Ã…“popularity does not equal profità ¢Ã¢â€š ¬Ã‚  (Smith, 2011). There are specific social media sites, such as Facebook, that receive a major amount of attention, but this does not mean that they are worth investing in (Smith, 2011). à ¢Ã¢â€š ¬Ã…“It is better for investors to research companies that have solid business fundamentalsà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). Popular Internet sites cannot always produce reliable long-term investments (Smith, 2011). Investors need to make sure a company is going to have a à ¢Ã¢â€š ¬Ã…“strong revenue sourceà ¢Ã¢â€š ¬Ã‚  (Smith, 2011) for a long period of time. à ¢Ã¢â€š ¬Ã…“Companies were valued by measuring their future profitabilityà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). However, this method can lead to overly optimistic valuations (Smith, 2011). It is never a good idea for investors to à ¢Ã¢â€š ¬Ã…“invest in a company that is based solely on the hope for large profits rather than the real numbers that are appearingà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). Investors should make sure that companies are making reasonable speculations when it comes to valuation. à ¢Ã¢â€š ¬Ã…“A business model is a method of doing business by which a company can generate revenue to sustain itselfà ¢Ã¢â€š ¬Ã‚  (Turban et al., 2011a, p. 29). A reliable business model is essential when investors are researching potential companies to invest in (Smith, 2011). à ¢Ã¢â€š ¬Ã…“Many investors were not realistic concerning revenue growth during the Internet bubble. An investor should never invest in a company that has not figured out how to generate revenueà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). à ¢Ã¢â€š ¬Ã…“Investors should understand the basic business fundamentals when determining whether to invest in a specific companyà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). à ¢Ã¢â€š ¬Ã…“A company should have reasonably predicted financial variables, such as overall debt, profit margin, dividend payouts, and sales forecastsà ¢Ã¢â€š ¬Ã‚  (Smith, 2011), for investors to include in their decision-making process. It is not wise for investors to rely on just a good idea if the good idea is not going to be able to produce the funds to keep the business alive. Investors need to recognize the relationship a company has established with the stock market (Smith, 2011). In order to perceive this relationship, à ¢Ã¢â€š ¬Ã…“investors need to know the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s beta value, which states the degree to which the stock of the company changes with the economyà ¢Ã¢â€š ¬Ã‚  (Smith, 2011). Surviving Companies after the Fall of the Internet Bubble Several companies saw a major loss during the occurrence of the crash of the Internet bubble. Even though some of those companies were the ones to see the biggest amount of loss, they are thriving in todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s business world. à ¢Ã¢â€š ¬Ã…“Amazon.com, which is an example of a business-to-consumer e-commerce model (Turban et al., 2011a, p. 8), was one of the worst losers in the dot-com bubble crashà ¢Ã¢â€š ¬Ã‚  (Naylor, 2013). The company was selling a share for over 100 dollars during the Internet bubble, but they were only selling shares for 10 dollars after the burst of the Internet bubble (Naylor, 2013). à ¢Ã¢â€š ¬Ã…“Amazon has gone through two major financial bubbles, but it has now grown to be the largest online retailer in the world. It is pricing its stocks per share at approximately 360 dollars todayà ¢Ã¢â€š ¬Ã‚  (Naylor, 2013). à ¢Ã¢â€š ¬Ã…“EBay, which is an example of a consumer-to-consumer e-commerce model (Turban et al., 2011a, p. 9), was spared the worst of the carnage of the Internet bubble burstingà ¢Ã¢â€š ¬Ã‚  (Naylor, 2013). à ¢Ã¢â€š ¬Ã…“The company was possibly saved because its product, online auctions, grew in popularityà ¢Ã¢â€š ¬Ã‚  (Naylor, 2013). During the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s first day of trading, they started at an offered price of 18 dollars, but the amount nearly tripled to 53 dollars the same day (Naylor, 2013). à ¢Ã¢â€š ¬Ã…“Priceline, which is an example of a consumer-to-business e-commerce model (Tu rban et al., 2011a, p. 9), was founded in 1998, just before the dot-com bubble burstà ¢Ã¢â€š ¬Ã‚  (Naylor, 2013). After the company saw its initial stock jump to over 86 dollars, à ¢Ã¢â€š ¬Ã…“the company saw its stock price crash to under 10 dollars post bubbleà ¢Ã¢â€š ¬Ã‚  (Naylor, 2013). à ¢Ã¢â€š ¬Ã…“Priceline was able to survive due to the fact that the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s business model was retooled in the early 2000s to focus more on hotels than airfare. One share of Priceline stock costs over 1,000 dollars todayà ¢Ã¢â€š ¬Ã‚  (Naylor, 2013). à ¢Ã¢â€š ¬Ã…“Shutterfly is an internet-based personal publishing service that allows users to create prints, calendars, photo books, cards, stationery and photo-sharing websitesà ¢Ã¢â€š ¬Ã‚  (Folger, 2011). The company was able to à ¢Ã¢â€š ¬Ã…“survive the dot-com burst and go public in 2006 with an IPO share price of $15.55à ¢Ã¢â€š ¬Ã‚  (Folger, 2011). à ¢Ã¢â€š ¬Ã…“Today, Shutterfly trades above 60 dollars per shareà ¢Ã¢â€š ¬Ã‚  (Folger, 2011). à ¢Ã¢â€š ¬Ã…“Coupons.com was founded in 1998 after realizing that the coupon business had yet to adapt to the new internet economy. In 2011, the company attracted 200 million dollars from institutional investors, and it was valued at one billion dollarsà ¢Ã¢â€š ¬Ã‚  (Folger, 2011). Companies that Diminished after the Fall of the Internet Bubble There were companies that survived the fall of the Internet bubble and are thriving in todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s business world. However, there were companies that would never be heard of again after the crash of the bubble. Pets.com was a pet food and supplies company that is perhaps the most recognized flop from the dot-com burst. The business model for this company was not sustainable. Pets.com lost 147 million dollars in the first nine months of 2000, and the company was unable to secure more cash from investors. Pets.com when public in February 2000 and its stock started at 11 dollar s per share, rising to a high of 14 dollars per share. The rally was short-lived and Pets.comà ¢Ã¢â€š ¬Ã¢â€ž ¢s stock quickly fell below one dollar and stayed there until its demise. (Goldman, 2010) Even though à ¢Ã¢â€š ¬Ã…“Pets.com is recognized as the most famous flop, Webvan was the biggest flopà ¢Ã¢â€š ¬Ã‚  (Goldman, 2010). à ¢Ã¢â€š ¬Ã…“The grocery delivery service grew too fast, expanding its services to eight cities in just a year and a halfà ¢Ã¢â€š ¬Ã‚  (Goldman, 2010). After reaching its peak at only 30 dollars per share, the company announced it was closing in July 2001 (Goldman, 2010). By this time, à ¢Ã¢â€š ¬Ã…“its stock had already fallen to six cents per shareà ¢Ã¢â€š ¬Ã‚  (Goldman, 2010). EToys.com was selling shares for $84.35 in October 1999, but à ¢Ã¢â€š ¬Ã…“16 months later the company warned its investors that these shares were worthlessà ¢Ã¢â€š ¬Ã‚  (Goldman, 2010). The online toy retailer was popular for holiday shopping (Goldman, 2010). H owever, à ¢Ã¢â€š ¬Ã…“after reporting a 74.5 million dollars loss in the last quarter of 2000, the company filed for bankruptcy with a 247 million dollars debt in February 2001à ¢Ã¢â€š ¬Ã‚  (Goldman, 2010). TheGlobe.com is not remembered for becoming one of the first social media sites in 1995 that allowed users to create and post their own Web pages as much as it is remembered for its record-setting initial public offering. In November 1998, the company set the offer price at nine dollars per share, but the stock opened at 87 dollars. Shares of theGlobe.com had risen to a high of 97 dollars during its first day of trading before closing at $63.50. However, in August 2001, the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s stock was delisted by the NASDAQ stock exchange for failing to stay above one dollar per share. (Goldman, 2010) In 1998, Disney created Go.com to à ¢Ã¢â€š ¬Ã…“compete with the likes of Yahoo and AOLà ¢Ã¢â€š ¬Ã‚  (Goldman, 2010). à ¢Ã¢â€š ¬Ã…“In November 1999, Disney even created a tracking stock for Go.com, a separate class of stock that reflected the performance of the new Web propertyà ¢Ã¢â€š ¬Ã‚  (Goldman, 2010). After not being able to grow its user base by more than 21 million visitors per month, à ¢Ã¢â€š ¬Ã…“Disney announced it would shut down the site in January 2001à ¢Ã¢â€š ¬Ã‚  (Goldman, 2010). à ¢Ã¢â€š ¬Ã…“The company took a write-off of 790 million dollarsà ¢Ã¢â€š ¬Ã‚  (Goldman, 2010). Go.com and the other companies that diminished after the fall of the Internet bubble were not necessarily failures because their share prices were valued to high at the beginning of their existence, but these companies were not able to build enough brand awareness during the time that other Internet companies were being overvalued. Therefore, the companies were not able to stay alive when the most popular companies were struggling to stay alive during the crash of the Internet bubble. Conclusion It has been seen throughout history th at when a bubble occurs, a crash is not too far from occurring as well. This was certainly the case with the Internet bubble in the 1990s. The dot-com companies involved wanted their services and products to be enough while they figured out a solid long-term business plan that investors could rely on. Investors did not care enough about the solid long-term business plans because they saw a huge amount of potential in the dot-com companies. This led to the investors overvaluing the companies that wanted to expand too fast to keep up with the valuation. The dot-com companies and the investors became part of a crash that would the demise of several companies. However, there were a few dot-com companies that were able to survive the burst of the bubble, and they have become some of the biggest businesses in todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s world. à ¢Ã¢â€š ¬Ã…“The amount and percentage of goods and services sold on the Internet is increasing rapidly, despite the failure of many dot-com com paniesà ¢Ã¢â€š ¬Ã‚  (Turban et al., 2011b, p. 88), so electronic retailing is still a needed segment in this world. à ¢Ã¢â€š ¬Ã…“According to the Internet Retailer, approximately 60 percent of adult U.S. Internet users shop online and/or research offline sales onlineà ¢Ã¢â€š ¬Ã‚  (Turban et al., 2011b, p. 88). Investors and companies need to prevent another bubble from occurring because the dot-com companies are part of a thriving industry. A great business model is the best place to start for these companies, and investors need to make this factor a priority when researching potential investments. Indeed, the dot-com companies that exist today have given a performance worth a high valuation, but investors should allow newer companies to prove their capabilities as well before overvaluing them. The burst of the Internet bubble in the late 1990s and early 2000s did affect the future of some dot-com companies in a good way, but some were affected in a bad way. These companies h ave significance in our present and future lives, so everything must now be done with caution to prevent the world from experiencing another burst of an Internet bubble. Don’t waste time! Our writers will create an original "The Rise and Fall of the Internet Bubble" essay for you Create order

Will Bury’s Price Elasticity Scenario Free Essays

The economic concepts founded in Will Bury’s Price Elasticity Scenario are the following: 1. Supply and Demand One of the most fundamental concepts of economics and the backbone of a market economy is the concept of supply and demand. Demand shows the various amounts of a product that consumers are willing and able to purchase at each of a series of possible prices during a specified period of time. We will write a custom essay sample on Will Bury’s Price Elasticity Scenario or any similar topic only for you Order Now (McConnell Brue, 2004) The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. Therefore, there is a negative relationship between price and quantity demanded. The basic determinants of demand which affect purchases are: †¢Consumers’ preferences †¢The number of consumers in the market †¢Consumers’ incomes †¢The price of related goods †¢Consumers’ expectations about future prices and incomes Supply shows the amount of a product that producers are willing and able to make available for sale at each of a series of possible prices during a specific period. (McConnell Brue, 2004) The law of supply states that as price rises, the quantity supplied rises; as price falls, the quantity supplied falls. Therefore, there is a positive relationship between price and quantity supplied. The basic determinants of supply are: †¢Resource price †¢Technology †¢Taxes and subsides †¢Prices of other goods †¢Price expectation †¢The number of sellers in the market In order to understand the effect of price on volume demanded, Will Bury must understand the theory of supply and demand. When he will put these two concepts together, he will identify the market equilibrium with the price and quantity at the intersection of the demand and supply relations. That will be the price just high enough that quantity demanded is equal to quantity supplied, and the quantity corresponding to that price. 2. Elasticity of Demand and Supply The degree to which a demand or supply reacts to a price change is measured by a product’s price elasticity. There are different types of elasticity. Price elasticity of demand measures how sensitive is the quantity demanded to a change in the price of the good. Price elasticity of supply measures how sensitive is the quantity supplied to a change in the price of the good. When elasticity is small (less than 1 in absolute value) the relation is inelastic. Inelastic demand (supply) means that the quantity demanded (supplied) is not very sensitive to the price. When elasticity is large (greater than 1 in absolute value) the relation is elastic. Elastic demand (supply) means that the quantity demanded (supplied) is sensitive to the price. General formula for price elasticity is: Elasticity = (Percentage Change in Quantity) / (Percentage Change in Price) As a general rule, the more substitutes a good has, the more elastic is its supply and demand. 3. Substitute Goods Substitute goods are goods that can be used to satisfy the same needs, one in the place of another. That means that demand for the two kinds of goods will be bounded together by the fact that consumers can trade of one good for the other if it becomes advantageous to do so. In Will Bury’s Price Elasticity Scenario the 500-page book on CD is a substitute for Bury’s audio files of a book, therefore Will Bury must stay current on marketing research and stay current on other potential competitors who may offer substitute products because an increase in price for one kind of goods will result in an increase in demand for its substitute goods, and a decrease in price will result in a decrease in demand for its substitute. 4. Cross Elasticity of Demand The cross elasticity of demand measures how sensitive consumer purchases of one product are to a change in the price of some other product. The general formula for cross elasticity of demand is: Exy = (Percentage Change in Quantity Demanded of Product X) / (Percentage Change in Price of Product Y) The cross elasticity of demand for substitute goods will always be positive, because the demand for one good will increase if the price for the other good increases. References: McConnell, C. R. , Brue, S. L. (2004). Economics: Principles, Problems, and Policies (16th ed. ). New York: McGraw Hill/Irwin University of Phoenix Material: Will Bury’s Price Elasticity Scenario. Retrieved June 6, 2009 from: https://ecampus. phoenix. edu/classroom/ic/classroom. aspx How to cite Will Bury’s Price Elasticity Scenario, Papers

Globalization... New World Technology. free essay sample

New World Technology Globalization can be described and explained as a process of global economical, political, and cultural integration. Its major characteristic features are capitalism expansions, global division of labor, immigration of financial human and production resources within a society, and technological processes, as well as removing the borders between cultures of various countries. Author and economist, Jagdish Bhagwati defines economic globalization as â€Å"the integration of national economies into the international economy through trade, direct foreign investment (by corporations and multinationals), short-term capital flows, international flows of workers and humanity generally, and flows of technology†¦Ã¢â‚¬  Globalization increases economic development and seeks to reduce poverty. However, it does not seem to bridge the gap between the rich and the poor. Extraordinary changes in communications, transportation, and technology have given the globalization process new stimulus, and have made the world and companies more interdependent than ever. Consequently, societies across the globe have established closer contacts. Over the years, businesses and organizations have become more advanced, and have sought to rely greatly on technology, thus eliminating the use of manual human labor. Jobs that once provided opportunities for people of a lower status and who lack a formal education such as an engineering degree are now being replaced by robots, and people who have received specialized and advanced training for operating such machines. As a result, companies not only have boosted their company income, but have increased work efficiency and reliability. Globalization continues to make waves regularly. With technology being a fundamental factor, we are granted and guaranteed the resources we need to help us progress, increase productivity, and to be successful in our respective lives on a daily basis. Globalization is a process that began years ago. Information from the Levin Institute at the University of New York, Albany sources that â€Å"for thousands of years, people – and later corporations – have been buying from and selling from each other in lands at great distances. † However, globalization is not only limited to buying and selling or exchanging. Its core sense is economical, and concerns with how all the systems involved in the process work together to affect the global economical market. The effects of this adapt process is noticeable in all aspects of life. From restaurant franchises being available in almost every country, to the majority of American clothing being manufactured in periphery and third world countries, and the technological capabilities that keep us connected with people around the world, the effects have completely surround us. Globalization has also affected today’s society economically positively and negatively globally. It has resulted in the increases of job opportunities, as much as it has been blamed for the loss of the jobs. Automobiles contributed to the growth of the United States. During the 1900’s, the US economy increased much in growth as companies were hiring people to perform jobs at factories, specifically at the assembly lines. One such company was GM Motors, that later downsized its product line and began to invest heavily in automated manufacturing, which resulted in massive job cuts for many people in Flint, Michigan. It was much easier and cheaper for such a multinational and successful company to terminate its workers than to keep and pay them for their hard work and dedication, which was initially an asset to the company’s success. This effect of globalization has resulted in increased poverty amongst global surroundings, and has produced as much losers as it has winners. With the advent of newer technology, such as the telephone and internet, Thomas Friedman has commented that â€Å"today, globalization is farther, faster, cheaper and deeper. † Globalization information from the Levin Institute at the University of New York, Albany stated that â€Å"this new wave of globalization has been driven by policies that have opened economies domestically and internationally. Nevertheless, globalization has produced positive impacts on today’s marketing economy, and how greatly it has the influenced the accountability of world trade. Technological advancements have been the major force behind globalization, and have continued to involve and develop over the years. â€Å"Technological developments of the past few decades have spurred increases in cross border trade, investment, and migration so large tha t many observers believe the world has entered a qualitatively new phase in economic development. † In addition, â€Å"advances in information technology, in particular, have dramatically transformed economic life. Information technologies have given all sorts of individual economic actors – consumers, investors and businesses – valuable new tools for indentifying and pursing economic opportunities, including faster and more informed analyses of economic trends around the world, easy transfer of assets, and collaboration with far-flung partners. † In this new era, the world is faced with numerous challenges. The Internet serves as a great and useful tool for the masses, and with all the technological developments consecutively, it has become available for consumption and service to everyone. With the right equipment, people can keep in contact with friends and loved ones on the other side of the world. Computer networking, which involves cloud computing, a Web 2. 0 feature, and fax machines have allowed businesses and organizations to conduct negotiations and transactions in seconds, thus reducing and almost eliminating the â€Å"middle man† and the use of air mail. Company logos, slogans, and images, for example, McDonald’s, ATamp;T, and Mickey Mouse are now widely and globally recognized. Over the years, globalization has proven to be quite a controversial issue. In some aspects of life, society, and the world at large, it has some resulted in some positive effects, whilst in other parts, negative and almost devastating effects. â€Å"Proponents of globalization argue that it allows poor countries and their citizens to develop economically and raise their standards of living, while opponents of globalization claim that the creation of an unfettered international free market has benefited multinational corporations in the Western world at the expense of local enterprises, local cultures, and common people. â€Å"Moderate critics of globalization acknowledge the gains and benefits of globalization but voice objections as well, mainly about the unequal distribution of benefits and about problems with the global market. † Korten, David: When Corporations Rule the World. (San Francisco:Berret-Koehler Publishersm 2001). Second world countries such as China and Japan have benefited greatly from this process. They are now considered as the wo rld’s manufacturing capital, as they produce much of the world’s goods, clothing, and technological inventions. The nations have produced the majority of the items that are consumed in the United States and globally today. This opened the door for a freer market, and allows the process to serve as a frontier for international business, including importing, exporting and trading. This form of business and free market trade and economy has resulted in outsourcing got many businesses, companies and corporations. As a result, local businesses and services have slowly and continue to be debarred, as some countries have chosen to invest in international businesses rather than their nation’s own. An example of this is the importation of produce such as carrots, which are farmed locally, yet markets import because it weighs a lot easier on their pockets to import than it might be to support local farms and businesses, and international produce equals greater marketing profit. Oil and oil consumption and production are a major source of conflict in the issue of globalization. It has sparked war in many different areas of the world as it is essential in our daily lives. As a nation, America has a great dependency on oil. It is necessary for almost every facet of modern lifestyle, from commuting, to clothing, and clean tap water. However, as attractive as these sounds it all comes with a price. Sadly, it takes more energy from natural gas to produce the oil than we get from the oil itself. The major obstacle in using the crude oil will be the ever fast increasing price, and not just the availability. The fluctuation in the price will enable and limit the use of oil only to certain companies and countries that will be able to implement the oil in the production process. This leads to the issue supply and demand. Oil companies basically supply to other companies to meet the demand of their country, town, and city.

The Will To Power Essays - Friedrich Nietzsche, Will To Power

the Will to Power In the Will to Power, Nietzsche claims: The will to power interprets (-it is a question of interpretation when an organ is constructed): it defines limits, determines degrees, variations of power. Mere variations of power could not feel themselves to be such: there must be present something that wants to grow and interprets the value of whatever else wants to grow. Equal in that- In fact, interpretation is itself a means of becoming master of something. (The organic process constantly presupposes interpretations.) Part I of this paper unpacks this passage concerning the nature of interpretation to reach the crux of Nietzsche's argument. Part II then contextualizes this argument with respect to his claims regarding perspectivism and interpretation. Finally Part III raises the most plausible critique of Nietzsche's claim of perspectivism as possible responses by Nietzsche in his defense. I. Analysis In the passage above, Nietzsche claims that it is not human beings which interpret, but rather, it is "the will to power [that] interprets." As discussed in lecture, the organic process which presupposes interpretation is essentially the very process of adaptation by which an organism tries to fit itself into its environment and to other species around it, such as its predators and its prey. This process is a way in which the organism physiologically interprets the world. So interaction is the fundamental phenomenon of the forces that make up the will to power and these interactions in so far as they are systematically centered around a particular center of power, can be called a perspective or interpretation which that center of force gives of its surrounding environment. And what we think of as this specifically human interpretation is only the conscious psychological realization of this much more fundamental law of nature. Thus it is the will to power that interpreter! s, and it does so by appropriating, that is, knowledge is a process of appropriation. To understand what Nietzsche means by appropriation here, we can look to section 515 where he states "not 'to know' but to schematize-to impose upon chaos as much regularity and for as our practical needs require." In this statement, Nietzsche claims that interpretation is "to impose upon chaos as much regularity and form as our practical needs require." So for the plant, or some animal that preys on its environment, they will distinguish only between things that are useful and that which is not useful to the individual. The predator has no sense of distinction between this or that individual fly; one fly is all the same because it is simply food. However, in treating these different bits of prey as equal, it schematizes and organizes, and simplifies the world for itself. That is, once we start to recognize them as equal-this is the same as that-we begin to categorize them accordingly. ! Sluga illustrates how as human beings we say: "that this person which I just met a couple days ago is still the same person, although he has changed in slight ways, maybe he was wearing a cap back then." As human beings, we recognize there is a difference, but the difference is not important to us. In this process of equalization, man imposes schema and order on the world; and that is really the nature of interpretation and the will to power. II Contextualization of Nietzsche's Argument Having completed my analysis of Nietzsche's discussion in section 643, I would now like to move on to contextualize the implications of this claim with respect to perspectivism. To begin, section 636 we see how Nietzsche connects the concepts of perspective and interpretation with the concept of the will to power. According to Nietzsche, Physicists believe in a "true world" in their own fashion: a firm systematization of atoms in necessary motion, the same for all beings-so for them the "apparent world" is reduced to the side of universal and universally necessary being which is accessible to every being in its own way (accessible and also already adapted- made "subjective"). Physicist, in other words, are inclined towards a kind of metaphysics which says that there is a true reality different from the way it looks to us, namely, for physicist, it is the reality of atoms and their properties. Physicists

Course Requirements for Homeschooling High School

Course Requirements for Homeschooling High School One of the most significant benefits of homeschooling is the ability to customize your student’s education, tailoring it to fit his interests and aptitudes. However, when it comes to high school, many parents feel that they need some guidance on which subjects to teach and when to teach them. Having graduated one homeschool student with two still in high school, I am a firm believer (after some trial and error) in maintaining an interest-led homeschool environment through the high school years as much as possible. After all, the benefits of a customized education don’t end in middle school. However, depending on your state’s homeschool laws and your student’s post-graduation plans, other entities (such as perspective colleges or state graduation requirements) may play a role in determining your teen’s high school course options. With that in mind, let’s take a look at the courses you may wish to have your homeschooled high school student pursue. What are the course requirements for 9th grade? Most colleges will expect that, following a typical course of study for 9th grade, students will have received one credit each in English, math, science, and social studies (or history).   English:  English for a 9th-grade student will usually include grammar, vocabulary, literature (including literary analysis), and composition. Many 9th-grade English courses will cover myths, drama, novels, short stories, and poetry. They will also include public speaking and honing composition skills, including reference and report-writing. Social studies:  It is common to cover United States history  in 9th grade. Families following a classical style of home education will likely cover ancient history as part of the four-year history cycle for high school. Other standard  options include world history, U.S. government, and geography. Math:  Algebra I is the most commonly taught mathematics course for 9th-grade students. Some student may cover pre-algebra Science:  Common courses for 9th-grade science include  physical science, general science,  or biology. Most colleges will expect a student to have 2-3 lab sciences, making biology a good choice, though students often complete it in 10th grade, rather than 9th. In keeping with customizing our teens educations, my 9th grader is taking an astronomy course this year. Other alternatives may include  marine biology, botany, animal science, Earth science, or zoology.    What are the course requirements for 10th grade? A typical course of study for 10th-grade students will include one credit each for the following: English:  A 10th grade English course will consist of the same general components as that of 9th grade (grammar, vocabulary, literature, and composition). It may also include a world, modern, or  American  literature course. If your student chooses world literature, it can be fun to tie in social studies with a world geography and/or world history  course. American literature would be an excellent tie-in to American history if your student didn’t cover it in 9th grade. Social studies:  World history is typical for 10th grade. Classical homeschooling families will likely cover the Middle Ages.  Some students prefer topical studies such as World War I and II. Math:  Algebra II or geometry are common math classes for 10th grade. The order they are taught may depend on the curriculum you’re using. Some math texts go straight into Algebra II from Algebra I. There is debate over the order the courses should be taught. Some  say  geometry should be taught  in 10th grade so that students have exposure to it for college entrance exams in 11th grade. Some say that some Algebra II concepts rely on geometry. Finally, some proponents of the Algebra I/Geometry/Algebra II sequence say it helps prepare students for pre-calculus. Science:  Biology is commonly taught in 10th grade unless it was covered in 9th grade. Alternatives include the same as those listed for 9th grade. What are the course requirements for 11th grade? An 11th-grade typical course of study includes the following core classes: English:  Grammar, vocabulary, and composition continue to be reinforced and built upon in 11th grade. Additionally, 11th-grade students may also begin learning the mechanics of a research paper. (Sometimes this is covered in 12th grade). Literature options include American and British literature. Social studies:  History for 11th grade may include modern or European history. It might also include civics, U.S. Government, or economics (micro- or macro-). For classical homeschoolers, high school juniors will typically cover the Renaissance and Reformation. Math:   Algebra II or geometry are typically covered in 11th grade  Ã¢â‚¬â€œ whichever the student didn’t study in 10th. Other alternatives may include accounting, consumer math, or business math. These alternatives are typically not for college-bound students. Students may also be taking dual-enrollment courses. Science:  High school juniors generally take chemistry or physics in 11th grade since the necessary math pre-requisites have been met. What are the course requirements for 12th grade? Finally, the typical course of study for 12th grade includes: English:  Again, the basics are the same  Ã¢â‚¬â€œ covering age-appropriate grammar, mechanics, vocabulary, literature, and composition. Students in 12th   grade will hone their  skills  writing research papers. Literature will likely be British Lit, including Shakespeare. Social studies:  Many high school seniors will have completed all the required courses for social studies. Additional courses may be taken as electives and could include psychology,  sociology, or philosophy. Classical homeschoolers will likely finish their high school years with  modern history. Math:  Senior math may include options such as pre-calculus, calculus, trigonometry, or statistics. Students may also be taking dual-enrollment courses. Science:  Many high school seniors will have completed all the required course for science. Some may choose to take courses such as physics,  advanced biology, or advanced chemistry. Others may choose to take non-traditional courses such as marine biology. Addition Courses of Study for 9th  Ã¢â‚¬â€œ 12th Grade In addition to the core classes, your high school student will need to take some miscellaneous required courses (as determined by potential colleges, your state’s homeschool requirements, or your own graduation requirements), along with some electives.Other required classes may include: HealthPhysical educationForeign language (typically two years of the same language)Government and/or civicsEconomicsPersonal financeElectives (6 or more credits are usually expected.) Electives can be almost anything, which makes them an excellent option for continuing interest-led learning. My teens have completed courses such as art, photography, computer programming, drama, speech, writing, and home economics. These course requirements are intended as a guideline only. Your chosen curriculum may follow a different course outline, your state’s requirements may vary, or your student’s post-graduation plans may dictate a different course of study.

Have Information Systems Affected Competition Essay

Have Information Systems Affected Competition - Essay Example Helped by constant development and changes, information systems currently control the key operations in the business world from production, sales, processing and even marketing. However, it is important that any business intending to employ the use of this technology understand its implications in full, especially, its influence to output and resultant profits. When the issues are fully understood, organizations require tools to necessitate the implementation of the information systems technology. This should be in a manner that will enable them increase their strategy in competition within their market (Bogetoft & Olesen, 2000).   One way in which many organizations have viewed information systems over the years is through a pyramid that would show a certain hierarchy that is observed in the organizations. At the bottom are the systems involving transaction processing, systems used to manage information systems follows closely, above this are systems that support decision making a nd the highest ranked are the systems that are used to save executive information. This was the most rudimentary organization, yet the level of organization it brought to a company enabled it to grow and prosper than its competitors. In the recent contexts, there have been new technologies that have changed the basic framework to encompass the changes in the contemporary business environment. Some of the new improvements are enterprise systems, global information system (GIS), and enterprise planning using resource departments, data warehouses, global information systems (GIS) and the automation of offices (Neumann, 1994).   It is obvious that information systems have influenced the competition by companies over the past few years; this is seen from the fact that most managers have been forces to integrate the use of software technology in their offices, production and daily running of activities. This revolution has made the finance departments to be forced to locate funds to pur chase hardware used in managing information systems, training of these system’s personnel and encouraging capacity building through funding trainings and workshops. Some of the competitive advantages gained from the use of information systems are reduction in costs that are incurred when obtaining, transmitting and saving information within a firm and between different business groups (Armoni, 2000).   Information systems fall under the group of competitive systems. This is because it involves many services all of which have a contribution to how and when decisions will be made. In addition, information systems have the competitive advantage of enabling users to collect data from the primary resource center, and then analyze it on the spot using well defined pre-set programs. The systems of information will enable users to plan ahead of their competitors and know their intentions beforehand (Rainer & Cegielski, 2011).   In addition, fieldwork analysis will help the manage rs to know the changes that occur in the market, changes in customer requirements, how the structure of the industry has changed in such issues as social, physical, and the physical forces; this would be with the use of internet searches on the news sites. Furthermore, the continuous changes in technology within and outside the company’

Leadership and Entreprenuership Essay Example | Topics and Well Written Essays - 1750 words

Leadership and Entreprenuership - Essay Example d as â€Å"a multidimensional concept encompassing the firm’s actions relating to product-market and technological innovation, risk taking and proactiveness† (Kellermans & Eddleston, 2006). Thus an entrepreneur is a person who is prepared for new challenges, face adversities, take risk and achieve profits by identifying opportunities and utilizing the resources available. Leadership has been defined as â€Å"natural and learned ability, skill and personal characteristics to conduct interpersonal relations, which influence people to take desired actions (Eric, n.d.). Thus effective leadership requires accomplishment and influencing. Leadership requires trust and commitment of others, which they can achieve through their own behavior and integrity. Leaders create and deal with change; leadership requires vision, direction, strategies, motivation and inspiring. While both entrepreneurship and leadership have certain traits in common, not all of the leadership traits are n ecessary in an entrepreneur. Entrepreneurship to a large extent relies on leadership. Jong and Hartog (2003) have reviewed various definitions of leadership and conclude that three main elements: ‘group’, ‘influence’ and ‘goal’ make a leader. These three elements are related to an entrepreneur who can influence his co-workers with the intermediate goal of enhancing their innovative behavior in order to improve the number and quality of innovations and eventually firm performance. Entrepreneurial attitude can be measured in terms of achievement, innovation, personal control, self esteem, and opportunity recognition (Lindsay, 2005). Lindsay further clarifies that innovation includes recognizing and acting upon business activities in new and unique ways. Achievement can be associated with business start-up and growth results, while self-esteem includes self-confidence. Personal control involves individual perceptions of control and influence over business affairs. Creativity is one of key

Analysis Of The Pharmaceutical Industry Economics Essay

Analysis Of The Pharmaceutical Industry Economics Essay The most important definition of industry was given by Michael Porter in 1979: a group of competitors producing substitutes that are close enough that the behavior of any firm affects each of the others either directly or indirectly. Later, Porter defined the term more precisely as a group of companies offering products or services that are close substitutes for each other, that is, products or services that satisfy the same basic customers needs. This new definition emphasizes the importance of industry borders and industrys role as a market supplier or producer of goods and services, as distinguished from a market, defined as a consumer of goods and services. Furthermore, inside every industry there are groups of companies that follow similar strategies, defined by Michael S. Hunt in his unpublished 1972 Ph.D. dissertation as strategic groups. Between these groups there are differences in entry barriers, bargaining power with buyers and suppliers and skills and resources . Strategic groups compete against each other within the industry as a result of these differences. 1.2 Models to Analyze the Industry and Its Environment The literature agrees that comprehension of the industry structure is essential to developing a firms strategy and has a greater effect on the firms performance than whether it is business-specific or corporate-parent. The comprehension of the structure requires analyses of the industrys life cycle. It also requires step-by-step political, legal, technological, social and economic analyses as well as the five driving forces of business, provided by Michael Porter. By utilizing these analysis techniques, it is also possible to anticipate changes in industry competition and profitability over time. 1.2.1 Industry Life Cycle Analysis There are different phases during the development of an industry. Every phases is characterized by a different environments which make competition assumes different the form. Through studying the life cycle, the industry realizes its stake in the market and its influence on consumers. The industry life cycle model includes four different phases: introduction, growth, maturity and decline. The first phase, called introduction, is characterized by a low demand, whereas prices are high as a consequence of firms inability to realize economies of scale. For this reason profits are low and losses are possible due to high amount of investments in new categories. Barriers to entry are primary based on technologies and competencies. Strategy is focused mainly on RD and production, with the goal of enhancing novelty and quality. Competitors, attracted by the rising demand, attempt to replicate the new product. In the second phase, growth, the use of the product is extended, demand grows, prices decline due to economies of scale, barriers to entry are lower and the threat of new entry is high. At this phase the technology is usually not exclusive property of one or more firms, and the primary reaction to competition is marketing expenditure and initiatives; profits are not very high because prices decline as competitors enter the market. There is a transition period, or shakeout, between the second and the third phases. The shakeout involves finding and using all investment opportunities, because the market is near saturation and demand grows more slowly. In the third phase, maturity, market growth is low or nonexistent, and the focus shifts to gaining market share; demand is represented only by the substitution of products, investment in RD decreases and there is little innovation. In this phase firms seek cost reductions, and competition is based primarily on advertising and quality because of the low differentiation between products. Big firms acquire smaller players, while others are forced to exit. As a conseguence of high barrier to entry, the threat of new entrants are low. The last phase is decline, so called because of the continued decline in demand. Industries arrive at this stage for a variety of reasons. These include a change in social behaviors, demographic changes, international competition, technological innovations and increased customer knowledge. The buying process is based primarily on price rather than innovation. As a result, profit and revenues decline, and the industry as a whole may be supplanted. 1.2.2 PEST Analysis The word PEST is an acronym of several aspects that influence business activities at any given moment. An industry operates under Political, Economic, Social and Technological conditions. These conditions are identify and analyzed using the PEST Analysis technique. Due to their independent influence on any industry, it is essential that each be considered individually. The political aspect of analysis encompasses various factors that influence business activities in a given country at several levels: national, subnational and supranational levels. These include trade policies control imports, exports and international business partners, government ownership of industry, attitude toward monopolies and competition and trade policies. Hence, failure to consider these policies may result in loss of revenue due to taxes or penalty fees. Government stability is also very important, because it eradicates the risks associated with wars and conflicts. For an industry to thrive, political stability must be uncompromised; otherwise, sales and business activities will be uncertain, and investors will lose interest. The internal political issues in any country influence the running of industries. Politics based on race or religion may define the course for certain industries, especially if an industry falls short of political expectations. Elections and changes in leadership also influence an industrys strengths and opportunities and thus should be considered during the analysis. In addition to internal issues, international pressures and influences may affect some industries, such as environmental degradation or product safety. Another factor is terrorism. Though uncommon in many countries, poor or unstable governance may attract terrorist activities, vengeful or otherwise, which can have adverse effects on the industries operating in that country. All these issues may influence industry and firm expansion and industry attractiveness from stakeholders point of view. The economic aspect of analysis includes many factors. The first factor to consider is the current economic situation and trends in the country in which the industry is based. Companies should note inflation and economic decline so that when it comes to investing, they can avoid being financially affected. Failure to do this results in an economically blind platform that may cause the industrys sudden collapse. Another factor to consider in analysis is taxation rates. When there are high taxation rates in a given country, price-based competition may affect a given industry in the international market. International economic trends are also very important, because they define currency exchange rates, imports and exports. Other factors to consider are consumer expenditure and disposable income and, finally, legal issues, including all trade legislation in a given country and other legal regulations that inhibit or encourage expansion of business activities. Also to be considered are co nsumer protection laws, employment laws, environmental protection laws and quality standardization regulations. Industrial laws regulating competition, market policies and guidelines also play an important role in influencing industrys stability and future expansion possibilities . When considering the social aspect, factors including demographic changes, shifts in values and culture and changes in lifestyle are important to note so as to strategize on expansion and growth . Certain factors, such as media and communities, influence an industrys growth and returns. Brand name and corporate image are also very important in influencing growth and returns since they shape customer loyalty and shareholder investment. The medias views on certain industrial products should be incorporated into the analysis, as should consumer attitudes and sensibility to green issues, that is, issues that affect the environment, energy consumption and waste and its disposal. A companys information systems and internal and external communications should also be analyzed to ensure that it keeps pace with its competitors. Other factors are the policies regulating education, health and distribution of income, all of which, in the long run, influence consumer use of products . The technological aspect of analysis encompasses a variety of factors. In addition to developing technologies, all associated technologies, along with their innovation potentials, speed of change and adoption of new technology, should be analyzed for a proper evaluation of the industry. Other technological factors are transportation, waste management and online business. The level of expenditure on RD should also be considered in order to secure the industrys competitive position to prevent losses and collapse . 1.2.3 Porters Five Competitive Forces Analysis Porters model, as described by Kay, is an evolution of the Structure-Conduct-Performance paradigm conceived by Edward Mason at Harvard University in the 1930s and detailed by Scherer in the 1980s. , The model aims to determine the intensity of industry competition, major issues in determining strategy and whether an industry is attractive or not. Porter identified five competitive forces that act on an industry and its environment: threat of entry, intensity of rivalry among existing competitors, threat of substitutes, bargaining power of buyers and bargaining power of suppliers. The first competitive force, threat of entry, refers to the threat of new entrants in an established industry or acquisition to gain market share. Reactions of participants and barriers to entry are the main factors used to establish whether the threat is high or low. Six major entry barriers have been identified: à ¢Ã¢â€š ¬Ã‚ ¢ capital required to compete in the industry (especially in risky industry, such as advertising or RD) à ¢Ã¢â€š ¬Ã‚ ¢ switching costs à ¢Ã¢â€š ¬Ã‚ ¢ access to distribution channels à ¢Ã¢â€š ¬Ã‚ ¢ economies of scale à ¢Ã¢â€š ¬Ã‚ ¢ cost disadvantages independent of scale, such as patents, access to know-how, access to limited resources, favorable locations, government subsidies or policies and learning or experience curves à ¢Ã¢â€š ¬Ã‚ ¢ product differentiation à ¢Ã¢â€š ¬Ã‚ ¢ expected retaliation from existing firms against the new entrants Strong barriers to the entry of new firms enable a few firms to dominate the market and thereby influence prices. The second force is intensity of rivalry among existing competitors. Rivalry takes place when one or more firms inside an industry try to improve their position using tactics such as price competition, new product introduction or new services. Rivalry depends on several factors: number and size of competitors, industry growth, product characteristics (which determine whether the rivalry is based on price or differentiation), cost structure, exit barriers, diverse competitors, operative capacity and high strategic stakes. If an industry is inhibited, then firms will experience difficulties when trying to expand. The growth of foreign competition and the corporate stakes should also be included in the analysis. Threat of substitutes is the third forces. Substitutes are those products manufactured by other industries but serving the same purposes as the initial product. These substitute products cause the demand to decline. The implications are reduced profits and reduced market command by the original capital investor. This is of particular importance when the buyer has no switching costs and can easily compare products in terms of price and efficiency. Bargaining power of buyers is the fourth force. High bargaining power positions weak firms inside the industry, forcing price down, enhancing competition between industry players and resulting in bargaining for higher quality or services. This power is particularly high under certain conditions, such as few and specific buyers, undifferentiated products, low switching costs, the possibility of backward integration and information about demand and the availability of market price to the buyers. Furthermore, bargaining power is high if product quality is not a crucial factor of decision-making and if what the buyer is acquiring is a modest fraction of his total costs. Bargaining power is even higher when the buyer is a retailer or a wholesaler able to influence the consumers purchasing decision. The fifth and last force is the bargaining power of suppliers. This can act on the industry in several ways: raising prices, lowering quality or privileging some buyers. Supplier power can be divided into several elements. One of these elements is supplier concentration. Suppliers are in a stronger position when there are few suppliers, switching costs are high, the industry they are serving account for a small fraction of their business or their products are an important part of the buyers business. The bargaining power of suppliers is low or nonexistent when there are substitute products. Lastly, purchase volume and the suppliers influence on cost are very important. à ¢Ã¢â€š ¬Ã†â€™ 2. Pharmaceutical Industry Analysis A general overview of the pharmaceutical industry is the primary objective of this chapter. First, this chapther will define the industry in order to identify the main players in the pharmaceutical market. Second, using the instruments and models described in the first section, it will highlight the main characteristics of the industry and the factors that influence it. 2.1 Definition of Pharmaceutical Industry The pharmaceutical industry is composed of companies developing, manufacturing and marketing products licensed for use as medications. Their goal is to prevent, diagnose or treat diseases. A medicinal product, also called a pharmaceutical, according to the EU, is an exogenous substance or a combination of exogenous substances that can be organic or inorganic, natural or synthetic, and able, once inside the human or animal body, to modify physiological functions or to make a medical diagnosis through physical, chemical or physicochemical action. This industry is subdivided into two sub-industries characterized by different business models and players: prescription and OTC pharmaceuticals. Prescription pharmaceuticals, also referred to as Rx, are medicines that are available to the consumers for purchase in a pharmacy or drug store only with a prescription from a physician or administered only in hospitals. These medicines target specific diseases and, therefore, are prescribed for and used by one person only. OTC pharmaceuticals are instead used by more than one person which present the same symptoms in the same or in different time. These medicines are available to the consumer at every time and the consumer dont need any prescription from a physician for purchase. Furthermore, inside this industry there are two types of firms: Big Pharma and Biotech. These two types, despite being in the same business, vary in several ways: IP, drug methodology, expenditure and productivity of RD . The primary drug RD techniques used by Big Pharma firms are chemoinformatics and in silico screenings. Biotech firms are companies that use biotechnology in RD . Biotechnology, according to the Organization for Economic Cooperation and Development, is the application of science and technology to living organisms, as well as parts, products and models thereof, to alter living or nonliving materials for the production of knowledge, goods and services. Generally, Biotech firms tend to have a strong academic culture, are more risk treatment and spend less than half what Big Pharma spends on R&D; in 2004, Biotech firms spent $20 billion, versus $50 billion spent by Big Pharma. Generally, a Biotech product has multiple IP covering manufacture, formulation and stability, a s opposed to Big Pharma IP, which covers only the product, allowing generics to be produced quickly. While they may appear to have the same phenotype, their genotypes are distinct, so much so that they can be considered two industries, as stated by Arthur D. Levinson, Chairman and CEO of Genentech. Nevertheless, this distinction is not always clear, as many Biotech and Big Pharma firms are hybrids to varying degrees. The focus of this thesis are Big Pharma involved in the development of prescription pharmaceuticals to treat and prevent human diseases in the EU market. 2.2 Analysis of the Pharmaceutical Industry The purpose of this chapter is to provide a brief overview of the pharmaceutical industry lifecycle and investigate the major force acting inside it . 2.2.1 Industry Lifecycle Analysis People over the years have always tried to discover diseases causes and to find remedies against it. The most complete medical test, the Ebers Papyrus, is dated 1550 BC and it was written by Egyptians . However, the industrial production of drugs dates back to the year 1827 when Heinrich E Merck in Germany founded the first company for the production of cocaine and morphine . This event started the introduction phase of the pharmaceutical industry in Europe. In Europe, this industry was born in different way, reflecting the different strategic groups inside it. In the German-speaking countries, pharmaceutical companies were born as a branch of the chemical industry, with firms like Bayer and Hoechst in 1863, BASF in 1865 and Schering in 1871 in Germany, and CIBA in 1884 and Sandoz in 1886. Only Hoffman-La Roche in 1894 in Switzerland was originally a drug firm. On the other hand, in Italy, France and the UK companies were born from small shop pharmacies, such as Glaxo which traces it s origins to a pharmacy in Plough Court in 1715 . During the 1800s many compounds were already being isolated, but none was being synthetically produced. The first synthetic drug was Phenacetin, produced by Bayer and commercialized in 1888 . Ten years later Bayer commercialized Aspirin, which marked a milestone in the pharmaceutical industry. Many firms rose to prominence in the 1920s-30s with these kinds of pharmaceuticals, but also with a new class of pharmaceuticals: vaccines and serums . During the Second World War II the demand for drugs increased and mass production started, primarily with drugs such as antibiotics (penicillin, streptomycin and neomycin) and sulphonamide . The availability of these drugs dramatically changed the quality and the average life-span of people. In this period the German pharmaceutical industry, a leader along with the Swiss in pre-war times, was taken over by American firms who came to Europe to taking advantage of the condition of the continent after the war. The period 1950-60 was the start of the industrys growth phase , and this saw a proliferation of new drugs and high return to drug discovery. New drugs included tranquilizers such as MAO inhibitors in 1952, anti-tuberculosis drugs such as Isoniazid in 1952 and oral contraceptives in 1956. Other discoveries included Librium in 1960 and Valium in 1960. The latter was sold from 1963 and later became one of the most prescribed medicines in history before controversy emerged over its link to habituation and dependency. In the 1950s, legislation was put in place to regulate the industry, mainly touching on labelling and approval by health authorities as well as drawing distinctions between non-prescription and prescription medicines. In this apparently unstoppable process of pharmaceutical progression and optimism the industry was stalled by a drama concerning one drug sold in Europe and Japan, Thalidomide. This drug, synthesized in Germany in 1954, was introduced to the market to treat the symptoms of morning sickness and nausea in pregnant women. Between 1954 and 1960, it caused around 5,000 and 10,000 severe deformities in infants. In fact, the drug had not been sufficiently tested on animals to assess its safety, and after this revelation, in an attempt to better regulate the industry, drug oversight authorities were established to exercise control over the industry. The World Medical Association met in Finland and issued the Declaration of Helsinki, setting the standards for clinical research. Among other things, the declaration stated that pharmaceutical companies must prove the efficacy of a new drug in clinical trials before releasing it to the market, and subjects must consent to experiments done to test the efficacy of drugs in clinical studies. The industry remained small up to the late 1970s . Two events characterized the 1970s. First, chemical production for raw materials and early intermediates shifted out of Europe to low cost destinations such as India and China which later began producing active pharmaceutical ingredients and finally non-patented pharmaceuticals . Second, there was the birth of biotechnology. This new science had its roots many years before with the discovery of the double helix in 1953 by Watson and Crick, which followed the advances in molecular genetics, recombinant DNA technology, and molecular biology. Until then, drugs in commerce were produced by extraction from natural substances or chemical synthesis. These new techniques of molecular biology marked the birth of a new industry which became a competitor to and a substitute of the pharmaceutical industry. This new industry was pioneered by firms like Genentech and Amgen which introduced revolutionary drugs such as Epogen and recombinant human i nsulin. In the 1980s, legislation was passed in most European countries requiring adherence to strong patents for both the pharmaceutical products and their production processes. There were also new regulations such as the introduction of the Good Clinical Practices, which were guidelines regulating ethics and the reliability of clinical studies. In Europe, several states also initiated health maintenance organizations and managed care in an effort to limit rising medical costs, and a preference for preventive rather that curative medication took root. As the industry entered the 1990s, new discoveries and projects, such as the Human Genome Project 1990, changed the business environment. Also, there was a huge wave of MA to build on synergies. This included Ciba-Geigy and Sandoz forming Novartis, Hoechst and Roussel-Rhone Poulenc-Rorer forming Aventis and Glaxo Wellcome and SmithKline forming GlaxoSmithKline. In this way, the manufacturing of pharmaceuticals came to be concentrated in Western Europe and North America, with dominant firms and a few small companies that produced drugs in each country. The major European companies are still the dominant players not only in Europe but also in the global market. They include Novartis of Switzerland, Bayer of Germany, GlaxoSmithKline of the UK, Hoffman-la Roche of Switzerland and AstraZeneca of UK/Sweden. As the European pharmaceutical industry entered the 21st century, signs of the growth phase have become even more evident. This has been characterized by intense marketing to physicians and internet commerce. This, in part, has been facilitated by the liberalization of marketing rules requiring presentation of risks as well as the advertising message. Internet has enabled the direct purchase of raw materials by the manufacturers. The development of drugs has moved from the hit-and-miss approach to research and informed discovery. Alternative medicines and lifestyle medicines have presented new challenges and opportunities and have raised the level of competition in the industry. The aging population in western European economies has increased opportunities for raising revenues. In fact, because of the ageing population in the developed economies, drug consumption will increase since the aged have a higher frequency of contracting diseases than younger people. New epidemics, such as t he recent H1N1 flu outbreak, continue to batter the world population, and increased globalization makes them spread more quickly than ever. As the industry advances through the growth phase, companies are undertaking research and development initiatives both to develop new drugs and improve production processes. Further, the increased role of state-supported medical schemes across Europe, as well as other state-managed health programs around the world will greatly increase the reach of healthcare, extending it to more of the middle class and the poor who constitute the larger part of the population in most countries. As the medical programs continue to gain efficacy, the sales of pharmaceutical firms are expected to grow. In addition,, the emerging economies like Brazil, Russia, India, China, Turkey, Mexico, and South Korea will add to potential consumer numbers in the industry for European manufacturers. Together, these countries constitute a huge percentuage of the worlds population, meaning that their entry into the high income category will no doubt present an enormous potential market for pharmaceutical products. In fact, the growth in these markets is expected to reach 14-17% by 2014, compared with only 3-6% growth in the developed markets. Thanks to agreements signed by the Asia-Pacific and Europe governments concerning liberalization of the Asia-Pacific pharmaceuticals and investments market, many companies have already started to establish relationships with emerging markets. An example is GlaxoSmithKline, who partnered in 2009 with Indias Dr. Reddy Laboratories. GlaxoSmithKline will distribute the drugs manufactured and supplied by Dr. Reddy in Africa, the Middle East, Asia-Pacific, and Latin America. Even with these last considerations, the European pharmaceutical industry has only a limited chance of entering the maturity phase of the cycle. The barriers to entry are so great that they choke any new entrant in almost every facet of operation: in research and development, in product distribution, and in compliance with rules and regulations. In fact, this industry has complex manufacturing capabilities which are hard to replicate, and are protected by way of patent, as well as huge consumer attachment to preferred brands from specific companies, often informed by experience. Furthermore Europe generic penetration is very low (less than 10% in total). Thus the industry might remain in the growth phase for a considerable time.

Zara: It for Fashion

Report Title: Zara: IT for Fashion Executive Summary: Zara is a fashion company founded by Amancio Ortega in Spain in 1975. It is part of Inditex holding company, a large fashion retail chain that operates five other clothing brands. Since its inception, Zara has been financially very successful as it contributes the most to Inditex’s overall revenue. Also, Zara’s fast growth is represented by its massive global presence; it has stores all over the world from Americas to Middle East to Europe, its principal market. In my analysis, Zara’s competitive advantage lies in its ability to mass produce a large range of highly demanded latest designer clothes faster than its other competitors in the industry. By virtue of being first in the market, Zara is able to gain a larger chunk of the revenue pie than its competitors. However, Zara’s financial success and global brand recognition hides many structural inefficiencies and wastages across its business units. My analysis shows that Zara’s main problem stems from its inability to value the importance of having the right information at the right time. This is evidenced by Zara’s hesitance to invest in suitable technological infrastructure that collects, analyzes and interprets valuable data to make the most effective decisions. Furthermore, Zara’s organizational structure is plagued with disjointed business units that fail to understand the relationship between two separate units within the organizations. This faulty organizational structure has not only severely hampered Zara’s ability to garner synergies among its business units but also has become the source of lost revenue due to inefficiencies and wastages. Finally, the culture of making important business decisions within Zara by its management based off of gut feeling rather than a well analyzed business information, patterns and statistical method, greatly dangers Zara’s competitive advantages over its competitors. I would recommend Zara to tackle its two biggest problems– a) absence of modern technological infrastructure and b) lack of collecting, storing and sharing infrastructure needed to generate vital business information to make quality decisions. This recommendation entails the use of Windows based new POS system for all the Zara stores. Also, the use of cloud computing to collectively store all its data that could be used in generation vital business information. Furthermore, I would recommend the use of tablets instead of handheld computers to increase efficiency and communication capability in all of Zara stores. I would broadly divide the structural problems with Zara into two categories: 1. Outdated Technological Infrastructure The biggest problem within Zara is that they lack appropriate technological infrastructures that aid in the decision making process. I absolutely disagree with Sanchez’s argument that Zara does not need to fix something, in this case its POS system, if it is not broken. He also argues that upgrading the POS systems would make it more complicated. In my analysis, Sanchez’s argument fails because he sees Zara’s current comparative advantage in various market segments as a permanent thing rather than something that is constantly changing. Secondly, by opting for simplicity, Zara is sacrificing efficiency and effectiveness. Ultimately, the absence of the suitable infrastructure that can collect, analyze and interpret data to aid Zara’s commercials, store product managers and store managers to make quality decisions, makes Zara vulnerable to fall behind its competitors. Below are the few examples, where Zara’s lack of advanced technological infrastructure hurts them and possible solutions. First, Zara’s outdated technological infrastructure is inhibiting its speed and decision making ability throughout the organization. Zara is a company that depends heavily on capitalizing on new fashion trends rather than on expensive advertising campaign. Thus, it is imperative for Zara to correctly identify new market trends and execute manufacturing orders before its competitors. But it is unlikely that commercials at Zara will be able to consistently predict the new fashion decision without analyzing relevant data to derive information and business decisions. They may guess the new fashion designs correctly few times, courtesy of their experience, but in general their prediction will miss the target more often than not. So, unless Zara updates its archaic infrastructure that can efficiently collect data, help managers develop patterns and better understand the market, they will be forced out of the market. Second, Zara’s ability to forecast and analyze its performance under various market situations is handicapped by its old infrastructure. Most businesses that are successful take into account and analyze all the possible scenarios that can affect them before making critical decisions. Usually called event-driven analysis or simply, what if analysis; it gives a business a sense of all the possible opportunities and threats out there in the market. However, a business mostly requires a large amount of data that they need to analyze in order to conduct a successful what if analysis. In Zara’s case, they lack that data gathering and sharing ability because of their old infrastructure. So for example, Zara has no clue how their revenue is going to be impacted if Benetton opens up a hundred new stores in Madrid. This is serious problem for Zara because it may be losing market share but they have no accurate way of verifying it. Furthermore, Zara’s dependence on MS-DOS based POS system is threatening its viability as a business at a store level and limiting its expansion opportunities. Mainly because Microsoft has discontinued its support for MS DOS and Zara’s suppliers aren’t willing to a long term contract that guarantees future supplies of MS DOS based POS, Zara is in a vulnerable position. Also, the situation within a Zara store, in terms data collection and sharing, is dangerously low. For example, a Zara store manager currently cannot access critical business information necessary for decision making. Even information on simple things such as the sales figure, the pattern of sales, and the number of unsold items are unavailable to the store manager. Rather a Zara store manager currently has to rely on canvassing the store to determine generate business intelligence. Similarly on the hardware side, a Zara store managers over reliance on an outdated handheld computer is putting the prospective revenue of the Zara’s business at tremendous risk. Currently, a Zara store manager uses a hand-held computer with a very small screen, probably with poor image quality, to analyze information about the new clothing designs and then decide. In an artistic industry as fashion where people care about even smallest of small details, the store managers are asked to value and to decide their portfolio of new clothes using a device that is inadequate. Furthermore, the store managers have to rely on a dial up connection, which has a host of issues frequently, to link up with the office at La Courna once every night. With the store managers facing â€Å"hard deadlines† to post their orders and they having to rely on a dial up connection to send that important order, the pressure on the store managers must be very high. Possible Solutions: First, at a store level, Zara can choose from Windows, Unix or Linux based POS to replace all of its outdated MS-DOS based POS. In my analysis, a new POS based on Windows OS is the best solution for Zara’s current needs. First, the regular OS upgrades provided by Microsoft eliminate Zara’s concern about its OS being outdated. Zara can also leverage Microsoft’s variety of well tested software packages to aid in the collection, storage, analysis and interpretation of business information. Furthermore, with windows Live software such as SkyDrive, individual Zara store can store all its vital data in the cloud and share it among commercials and store product managers in different locations. Also, one benefit of using Microsoft OS is that almost all big software developers use MS OS as their primary platform. This ensures that Zara will not be disadvantaged due to incompatibility of major software. While on the other hand, licensing and maintaining fees for Windows can be expensive. Also, the issue with security may be a big concern for Zara as it uses Microsoft OS which has a history of being vulnerable to hacking, virus infection and so on. Second, Zara should upgrade to new POS terminals rather than reprogramming the new OS to fit the old hardware. First, there can be a problem if old hardware is not compatible with the new OS despite re-writing and customizing the new OS. Furthermore, the old hardware may fail to fully utilize the capabilities of the new OS system. More importantly, it may be faster for Zara to replace all the POS than reqrite the program for the old hardware. But the criteria for the new POS system should be that it should be able to store and communicate data to the central office at La Courna and to the store manager. Finally, an android based over an iOS based tablet could be a reasonable alternative to the current use of handheld computers. Because android tablets are more compatible with the Windows OS, which was the OS of choice for Zara, I would recommend an android tablet. Also, android tablets provide Zara store managers the ability to access critical business information from the cloud and easily communicate with the central office to place orders, evaluate new fashion designs, and send or receive critical business information from La Courna. Also, these tablets are compatible with a host of different spreadsheet and document applications that a Zara store manager could rely on to get vital business information before making purchase decisions. 2. Bad Business Practice: Random Decision Making, a Culture inside Zara. In my analysis, the culture inside Zara of allowing lower management to take important decisions such as production schedule and stock distribution based on their gut feeling and yet not checked by senior management, is simply too dangerous. Any business management student can attest that delegation of higher responsibilities to junior staff members and independent decision making is positively correlated with higher performance and returns, and I am all up for it too. However, research also has shown that in terms of decision making, the best decisions are made when experiences of managers are combined with their analysis of business information. While currently in Zara, decisions are solely based off of experience with no use of business information to draw inferences about pattern and trends. The primary two problems with such method are that those decisions tend to random and also, heavily biased towards personal preference and beliefs. A company like Zara cannot afford bad decision when its comparative advantage lies in producing clothes of the future. Below are the few examples of random decision making within Zara which have resulted in wastage and time lag and possible solutions to eradicate them. First, the decisions about Zara’s production based on random experiences can be very costly. Currently Zara’s store product managers, who decide what new design is approved in Zara, largely rely on their random observations of what people are wearing and conversations with Zara store managers to predict the next big fashion hit. However, decision making on the basis of experience alone tends to produce more misses that hits. And for a company like Zara which heavily depends on rapid production of latest fashionable clothes, â€Å"fashion misses† can be extremely costly. The ideal situation would be to allow business managers to combine their experience with valuable business information to derive business strategies and then apply them to decisions about future fashion trends. Similarly, the approach of commercials within Zara to decide the allocation of replenishment, highly demanded clothes in SKUs or DCs and most importantly, newly designed clothes is misguided. The current practice within Zara regarding allocation is to divide the available stock among all the Zara stores who wanted it. The critical problem with this approach is that it ignores the concept of opportunity cost. For example, let’s assume that using a detailed analysis, a commercial within Zara concludes that a piece of clothing â€Å"A† is highly demanded in London than in Bahrain. With this information the Zara commercial can push clothing â€Å"A† completely towards stores in London where it is highly demanded at the expense of stores in Bahrain. Rather than allocating among all stores, the approach of using business information to decide which stores have higher opportunity will be better for Zara’s bottom-line. Conversely, when the demand for the clothes exceed supply the Zara’s commercials allocated by looking at past performances and previous supply records. Although, this method is significantly better than the simple allocation, it could be much better if the commercials used further scenario analysis using previous business information to check if the success of the stores were a one off events or whether previously unsuccessful stores have turned a corner. Possible solutions: Zara’s main problem stems from its lack of infrastructure that is able to collect, store and communicate data so that all the responsible individuals within Zara can use it to make good individual decisions. Among the myriad of a Network options with the aforementioned capability, In my analysis, could computing is ideal for Zara. The advantages associated with using the cloud is its scalability. In the near future, Zara aims to expand its stores and its operations to new locations all across the globe. With a cloud based software the increased need to collect, store and share data within the Zara network will be as easy as buying extra space from the a cloud hosting services. In addition, cloud computing almost infinite amount of storage to store and backup data. This will be ideal for Zara who has a large number of store spread across many continents. Furthermore, unlike a distributed network, with cloud computing Zara store managers, commercials and store product managers can share common application software directly from the cloud without having to purchase or physically transport the software. However, security of the highly sensible data is a big concern when using cloud computing. Unlike a distributive network, there remains a threat that a close competitor in the industry unfairly accesses critical business information such as Zara’s new clothes design or cost of production, supplier’s list, when using cloud computing. Final Recommendation: My final recommendation for Zara aims to tackle two big problems within Zara – a) absence of technological infrastructure and b) lack of collecting, storing and sharing vital business information to make quality decisions. My first recommendation for Zara is to build a sophisticated technological infrastructure across the company. Zara should replace its old MS DOS based POS with a Windows based POS with advanced features such as touch screens, bar code reader and credit card to increase the overall efficiency and speed of transaction. Also, the development of a customized software that automatically stores detailed data about the transaction such as type of design, time (days, months), and cost automatically from the POS system and saves it in a cloud space. Also, I would recommend the use of tablet, preferably android, for individual store managers so that they can have easy access to vital business information in real time and also be able to communicate with the central office and DCs. Furthermore, I would even suggest providing tablets to all commercials and store product managers so that they can have access to specific and vital information about all aspect of the business directly from the cloud. The analysis and interpretation of all the information will enable them to making production, future design decisions, and allocation decisions. My second recommendation for Zara would be to subscribe to a cloud computing service provider in order to store all relevant data from all its stores, its DCs and SKUs. Also, I would suggest Zara to build customized software that has the capability to correctly organize relevant data into different categories according to specific need of different management levels within Zara. Regarding the security issues with using a cloud computing, Zara can enforce cloud storage access password on the basis of seniority in the management hierarchy. So for example, a temporary sub-store manager cannot access the future clothes design for Zara while a commercial has a full access. However, I would not recommend Zara to get involved in selling clothes online. Zara’s comparative advantage lies selling clothes through it well designed and strategically located stores that span all over the world. Thus, unless Zara can build up huge storage and distribution centers, hire e-commerce specialists and figure out a new business model, I wouldn’t suggest Zara to go online. Within the current organizational framework, going online would do more harm than good. The implementation of these two recommendations will insure that all the members of the management team have all the vital business information in real time in order to make an informed decision. Also, it will insure that Zara’s stores serves dual function efficiently serving customer and also providing important data back to the head office in Spain. ——————————————– [ 1 ]. Stock Keeping Unit [ 2 ]. Distribution Centers