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Miriam Mennen An Analysis of Ryanair’s Corporate Strategy Essay Document Nr. V145623 http://www. grin. com/ ISBN 978-3-640-56879-6 9 783640 568796 Global Corporate Strategy – A Case Study on Ryan Air An Analysis of Ryanair’s Corporate Strategy Executive Summary Ryanair was founded in 1985 as a family business that originally provided full service conventional scheduled airline services between Ireland and the UK.The airline started to compete within the confines of the existing industry by trying to steal customers from their rivals, especially the state monopoly carrier Air Lingus, outlined by Chan Kim and Renee Mauborgne (2004) as â€Å"Bloody or Red Ocean Strategy†. Ryanair seemed to follow a â€Å"me-too strategy†; according to Osborne, K. (2005), they â€Å"tried to be all things to all people†. Even they started restructuring; their strategy was not enough differentiated and their cost advantage was too low to be profitable. In 1986, th ey got â€Å"stuck in the middle†, outlined by Porter (1985) as they had a limited cost advantage and no service advantage.Ryanair then created a competitive advantage through the alignment of the three components of business systems; 1) Creating superior value for their customers (outside perspective) 2) Supplying their superior value-adding activities in an effective and efficient manner (which jointly form the â€Å"Value Chain†) 3) Possessing over the resource base required to perform the value-adding activities, (inside perspective) According to Porter (1987), â€Å"corporate strategy is what makes the corporate whole add up to more than the sum of its business unit parts. It is seen to be concerned with the overall purpose and scope of the organisation and to meet the expectations of major stakeholders. All aspects of Ryanair’s value chain are important to the company and their shareholders as Ryanair’s decisions add value to both. The following re port outlines the three perspectives of shaping Ryanair’s business system. The value creation dimension of Ryanair’s business model will be outlined, considering the theories of Porter and the more recent authors Kim and Mauborgne (2004).Further, the linkages in the airline’s value chain and their resource base will be analysed, considering Hamel and Prahalad’s (1990) core competency model (inside-out approach). 1 Global Corporate Strategy – A Case Study on Ryan Air In section 2, the future challenges of the airline are considered. Ryanair’s strengths and weaknesses will be analysed, internal value creating factors such as assets, skills or resources, to consider how the airline can create alignment to its opportunities and threats, external factors.An stronger â€Å"outside – in† approach for Ryanair’s future corporate strategy will be considered, applying Porter’s five forces model, placing the market, the compe tition, and the customer at the starting point of the strategy process. I An evaluation of Ryanair’s key strategic perspectives 1) Creating superior value for their customers The low cost market segment Ryanair has found a source of leveraging a competitive advantage; the knowledge about the opportunities associated with implementing the low cost strategy, which was created by Southwest Airlines.The Texas airline found a unique approach to the market through reconceptualisation of market segments. In 1990, Ryanair successfully applied their model in the European market, becoming a â€Å"no frills† airline, focussing on short haul destinations and keeping its planes in the air as frequently as possible in a 24 hour period. The new low price market segment, which did not exist before in Europe, could be described as the development of a ‘blue ocean’, uncontested market space through the expansion of boundaries of the existing industry, outlined by Kim and Ma uborgne (2004).Ryanair’s low fares created demand, particularly from fare-conscious leisure and business travellers who might otherwise have used alternative forms of transportation or would not have travelled at all (Case Study, p. 3). The competition became less relevant and allowed Ryanair to develop and sustain high performance in an overcrowded industry. Up to now he airline benefits from the early profitable and rapid growth within the blue ocean and successfully executes the low cost business model, which became obvious when the airline announced that it has beaten its own downbeat forecasts to record a 29 % increase in pre-tax profits and 19 % passenger growth, having carried more than 27. 6 million passengers in the past financial year (Jameson, A. , 2005). 2 Global Corporate Strategy – A Case Study on Ryan Air Ryanair’s position within the industry However, ‘blue oceans’ are not easily protected and Ryanair has been facing competitors that try to copy their low cost approach.Further, Ryanair has always been competing within the ‘red ocean’, by targeting a broad range of customers, e. g. the business segment and â€Å"stealing customer from rivals†. This outlines that Kim and Mauborgne’s strategy approach cannot be seen as exclusive. Competing with new entrants of competitors (and differentiators), Ryanair was able to launch an â€Å"all out war†, lowering prices and remaining profitable whilst increasing the frequency of flights and establishing new routes (Case Study). According to Porter (1980, 1985), the relative competitive position within an industry lies at the core of success or failure of firms.He defined two basics types of competitive advantage; cost leadership and differentiation (and focus). Ryanair set out to be best in the budget market segment, becoming the lowest cost airline in its industry (cost focus), e. g. no paper tickets, no passenger meals, no pre-arranged sea ting, enabling to cope and remain profitable, even on low yields. The airline constantly strives to reduce or control four of the primary expenses involved in running a major scheduled airline; their aircraft equipment costs, personnel productivity, customer service costs, airport access and handling costs.The airline deals successfully with competitive forces and is Europe’s leader in low fares by generating a superior return on investment (Osborne, 2005). This supports Mintzberg’s argument of price leadership being more relevant to competitive advantage than cost leadership. Planning to turn into a â€Å"no-fares-airline† by offering flights for free (Case Study), Ryanair can be argued to follow price leadership as one of the six ways to differentiation outlined by Minzberg.According to Mr O’ Leary (2005), new planes will enable him to drive down average fares by 5% a year causing a â€Å"bloodbath†. We are going to show up in your market and tra sh your yields. † (â€Å"Ryanair rolls out plans for European domination†, 2005). Differentiation through price outlines the superseding of Porter’s generic strategies by the resource/competence-based strategy frameworks. In addition to low prices, Ryanair’s branding emphasises on punctuality and efficiency, which is mainly achieved through operating from secondary airports.According to Ryanair, their success is not just due to their low fares â€Å"but also a winning combination of our No. 1 on-time record, our friendly and efficient people and our new Boeing 737-800 series aircraft† (Ryanair, 2005). It can therefore be argued that in a globalized competitive environment, even cost leaders need to differentiate 3 Global Corporate Strategy – A Case Study on Ryan Air their message (‘hybrid strategy’), contradicting Porter’s original idea of fundamentally different routes to competitive advantage.International expansion Ryan air further constantly created value for customers by following generic growth and internationalisation strategies; they moved their operations into more and more countries, expanding the route system from its primarily Irish-UK emphasis to serve 86 destinations on 133 routes across 16 countries. According to Mr. O’ Leary (2005), they â€Å"will deliver 34m passengers from 12 European bases and have identified a further 48 potential bases. † The airline expanded recently by placing an order for 70 more Boeing 737-800 aircraft to keep growing at 20% a year (â€Å"Ryanair rolls out plans for European domination†, 2005).Ryanair can compete on price, as the airline has besides its low cost product offering an activity system and resource base that match the price positioning, opposite to traditional airlines that seem to get â€Å"stuck in the middle†, as outlined by Porter, when undergoing severe cost cutting which affects their areas of differentiation, e. g. Aer Lingus. 2) Supplying superior value-adding activities in an effective and efficient manner The â€Å"Value Chain† As Ryanair’s low cost/price pproach leads to overlapping value chains, the company is a perfect example of linking its opportunities, as outlined by Campbell and Goold (1998, in Meyer and de Witt, 2004). From a Value Based Management point of view, Porter's Value Chain framework can be seen as one of two dimensions in maximizing corporate value creation, outlining how well a company performs relatively towards its competitors (‘Relative Competitive Position’). Even Ryanair subscribes to a similar basic model compared to e. g. Easyjet, the airline has an entirely different value chain.Ryanair’s low cost/price approach adds value to most of Ryanair’s processes, e. g. clear corporate identity and brand image in addition to limited organisational complexity, increasing the differentiation towards their competitors. Ryanair main tains their efficient, high quality and low cost services through operating from secondary airports and by exploiting the advantages of outsourcing, a strategic management model, transferring the business processes of services to outside firms, e. g. passenger and aircraft handling, ticketing. This allows the 4 Global Corporate Strategy – A Case Study on Ryan Air ompany to achieve competitive rates at fixed prices and to stay focused on its core competencies. Further, outsourcing can improve customer satisfaction (primary activity), mitigate risks, and add value to their reputation, accessed skills and technology, increased overall visibility of accounting and performance (controlled infrastructure), and avoided capital investments. Their strategy is to deliver the best customer service performance in its peer group, having just six staff in their customer care department; one for every two million passengers compared to British Airways which has 10 times the coverage (Ryanai r, 2005).Porter’s Value Chain Firm Infrastructure Support Activities Human Resource Management Technological Development Procurement M g ar in Primary Activities The technology of the company’s Internet booking system allowed to capture more value from its operations, to improve its contact with its customers (outbound logistics) and to increase control over the quality of their services. According to Mr O'Leary (2005), Ryanair saves 15% on the price of every ticket by using direct booking through the internet.For the fiscal year ended March 31, 2004, Ryanair generated virtually all of its scheduled passenger revenues through direct sales (Ryanair, 2005). All value-creating activities that transform the inputs into the final service of Ryanair are kept extremely lean. Ryanair does not interlink its operations with competitors, avoiding costs of trough service and delays and their Human Resource Management is tailored to continually improving the productivity of its alr eady highly-productive work force whilst controlling their labour costs. 5 M Logistics Logistics ar gi n InboundOperations Outbound Marketing & Sales Service Global Corporate Strategy – A Case Study on Ryan Air Ryanair focuses on centralised recruitment and training. In the year ended March 31, 2004 productivity calculated on the basis of passengers booked per employee continued to improve by 21% on the year ended March 31, 2003 (Ryanair, 2005). Ryanair emphasizes on modest base salaries and productivity-based pay incentives, including commissions for on-board sales of products for flight attendants and payments based on the number of hours or sectors flown by pilots and cabin crew personnel.Employees can participate in Ryanair’s stock option programs (worth up to 5% of the share of the company, Ryanair 2005). Ryanair even adds value to their low cost reputation through the refusal to recognise trade unions whilst having a competitive advantage over the heavily unionis ed nature of employment of the state owned Aer Lingus. (Ethical considerations, outlined in section 2). Ryanair has extremely low airport access fees by focusing on secondary and regional airport destinations that offer competitive cost terms, e. g. ess expensive outdoor boarding stairs, and allow for higher rates of on-time departures, faster turnaround times, fewer terminal delays, which maximises aircraft utilisation, eases restriction on slot requirements and on the number of allowed takeoffs and landings, adding value to customer satisfaction. Ryanair further added value to their infrastructure, procurement and reputation through negotiating favourable contracts with Boeing (inbound logistics); knowledge that is difficult to codify and replicate for competitors, as it is not only observable facts or data but complex and difficult to specify (core competence).Ryanair is said to be paying less than half the Boeings list price of $66m each (Money Telegraph, 2005). The procurement with Boeing 737-800s allows the airline to benefit from synergies through fleet commonality, limited costs associated with training (Human Resources), maintenance efficiency, and greater flexibility in the scheduling of crews and equipment (inbound logistics). Again, the new aircrafts provide the newest technology; blended winglets that reduce drag and drive down 2% of the fuel cost, driving down the average fares by 5% a year (O’ Leary, 2005).Ryanair’s business model as a whole is distinct, having an entirely different configuration altogether, in relation to their competitors in the airline industry, increasing the barriers to imitation or substitution. According to Teece, Pisano and Shuen (1997, in Meyer and de Witt, 2004, p. 253), â€Å"even if competitors are successful at identifying embedded competences and imitating them, the company with and initial lead can work at upgrading its competences in a race to stay ahead (‘Dynamic capabilities view’).R yanair seems to have â€Å"outpaced† their 6 Global Corporate Strategy – A Case Study on Ryan Air competitors through upgrading its resources, activity system and product offering more rapidly, as outlined by Gilber and Strebel (1989). Ryanair’s unique firm resource; their knowledge of demand for the low cost airlines, made it possible to implement their strategy before others and to benefit from first mover advantage, outlined by Lieberman and Montgomery (1988). ) The resource base required to perform the value-adding activities Ryanair’s resource heterogeneity In general, the airline industry is characterised by supply side similarity (Kay, 1993, in Meyer and de Wit, 2004), as only marginal differences between air carriers can be displayed, particularly in a deregulated environment. Ryanair's business model was designed to challenge the limitations of these constraints. The airline focuses on value-adding process or resources, which give them a superior position relative to its competitors and which seems most appropriate to draw boundaries in the airline industry.Ryanair’s internal characteristics are most relevant in achieving sustained competitive advantage, outlined by Barney (1986, 1991). In contrast to Porter, Barney assumes that firms within an industry or group may develop long-term superior resources that can be protected in their mobility across firms by some form of isolating mechanism. According to the resource based view already outlined by Edith Penrose (1959, in Meyer and de Wit, 2004) and extended by Wernerfelt (1984, n Meyer and de Wit, 2004), Ryanair can be argued to have a sustained competitive advantage, as their competitors in the same segment are unable to duplicate the benefits of their strategy. The â€Å"winner-takes-all† dynamic (Case Study, p. 15) in the low cost segment, seems to have only worked in combination with this first mover advantage. Ryanair’s assets, e. g. their capabilit ies and attributes, are not successfully implemented by any current or potential competitor, e. g. negotiation for airport deals, employee contracts and fleet prices.Budget airlines that attempted to enter Ryanair’s market segment lost money or were taken over, e. g. Go’s foray into Dublin (Case Study). Their main competitor easyJet has carefully differentiated by focussing on different geographical markets and higher value through better transfer situations of main airports, addressing the business segment. However, Ryanair’s external environment, e. g. a saturated market and changing customer demands, can threaten Ryanair’s future growth (outlined in section 2). 7 Global Corporate Strategy – A Case Study on Ryan AirRyanair’s Core Competence Approach Ryanair can be argued to follow the core competencies model of Hamel and Prahalad (1990), (inside-out perspective), as they build their strategy around their strength of distinctive competences , which offers an attractive base of competitive advantage, e. g. secondary airport approach. Ryanair competitiveness derives from an ability to build their competences at lower cost and more speedily than competitors. The real sources of Ryanair’s advantage are to be found in O’Leary’s ability to consolidate corporate-wide skills into competencies.Ryanair has strong relationships with their suppliers and a strong corporate identity. The airline can be argued to follow a strategic ‘stretch’ as they are overall resource led and create new opportunities, e. g. ancillary services. Strongly focussing on their core competences allowed for high strategic capability and potential access to a wide variety of markets, making a significant contribution to the perceived customer benefits of the end service and limiting the risk of imitation. The corporate centre tightly controls and co-ordinates by enunciating the strategic architecture that guides the compete nce acquisition process, e. . outsourcing. Ryanair’s resources include all means at the disposal for the performance of value-adding activities, e. g. through the acquisition of Buzz in 2003 (Case Study, p. 5), the airline gained a range of resources, e. g. know how, outlined by Preece as learning. The airline benefited from increased infrastructure and value-chain activities (leaning), integrated operations (leveraging), closer co-ordination of their vertical activities (leaping), expanded market opportunities and reduced competitive pressure (locking out). Resources consist of tangible assets, e. g.Ryanair owns all of its aircraft and holds net cash of 286 million euros (Money-telegraph, 2005), leading to the advantages that large firms have from large volumes enabling them to spread their costs (economies of scale), and intangible assets, e. g. the human capital; skills, competences and capabilities. Ryanair’s resource heterogeneity towards their competitors hinders other firms to conceive and implement the cost focus strategy, as outlined by Barney. Ryanair takes advantage of leveraging its resources, e. g. relationships and reputation, which are not readily transferable.They are inheritably attributed to O’Leary and his team and are influenced by the airline’s culture and governance. Ryanair possesses over a range of funny value-adding stories which defined their past, e. g. how Mr O’Leary ‘went to war’, driving in a military jeep to his competitor (Case Study). Personal involvement in battles of O’Leary against lobbying politicians, EU commissioners and competitors are part of the company culture and promote their aggressive 8 Global Corporate Strategy – A Case Study on Ryan Air low cost image.Ryanair’s reputation for commitment to Safety and Quality Maintenance, not having â€Å"a single incident involving major injury to passengers or flight crew in its 20- year operating historyâ₠¬  (Case Study), is another value adding aspect. Ryanair’s distinct activity system provides the base for competitive advantage and raises the barriers to imitation. In conclusion, Ryanair does not follow a linear ‘inside – out’ or ‘outside – in’ approach. On the one hand, the airline continual upgrades its unique resources; on the other hand, it occupies specific market positions to emain competitive, creating superior value by closely fitting their services to customers’ needs and focussing on a relatively limited set of businesses and markets (narrow competitive scope). Ryanair increasingly focuses on exploiting market opportunities in their business environment though, e. g. expansion and horizontal integration, leaving their original organic growth model and benefiting from all aspects of the framework of international strategic alliances, outlined by Preece. External forces, e. g. he industry deregulation in 1997 that allo wed the airline to go continental and the technological advancement of the internet, also strongly influenced the airline’s success story (external value adding activities). Ryanir can be argued to have a discrete organisation perspective, emphasising on competition over co-operation, having high bargaining power and a highly independent approach with distinct firm boundaries. The airline has an essentially logical structure, characterised by planning and control, prediction and forecasting.Especially in relation to the dynamic hostile environment, the airline has a relatively deliberate strategy that is based on rational thinking. The limited complexity of the system is characterised by few organisational levels and centralisation. The airline benefits from the entrepreneurial spirit of O’ Leary who seemed to understand the activities that are likely to have a significant impact on Ryanair and that build valuable internal linkages within the boundaries of their busine ss model (organisational leadership perspective). So far, he was highly successful in understanding the low cost attributes that made Ryanair unique. Global Corporate Strategy – A Case Study on Ryan Air II An evaluation of the future strategic direction of the company The sustainability of a firm’s competitive advantage is said to be threatened by the development in the market. Customer needs and wants are in constant flux. The SWOT analysis of Ryanair, a tool for analyzing the internal strengths and weaknesses and the external opportunities and threats (see Appendix), outlined the paradox for Ryanair of creating alignment either from the outside-in (market-driven strategy) or from the inside-out resource driven strategy). So far, Ryanair has been strongly focussing on their core competences. Considering their environment, opportunities and threats, as the starting point when determining their strategy (outside-in perspective), is crucial though; to re-check the fit be tween their competitive advantage and the environment, as outlined by Rumelt, (1980). The model of ‘environmental consonance’ seems of great importance to the airline, outlining the requirement of continual adaptation of the business system to the demands and new opportunities in the market place.As outlined by Leonar-Barton (1995), Ryanair’s core competences seem to be simultaneously Ryanair’s core rigidities, locking them out of new opportunities (in Meyer and de Wit, p. 253), e. g. Ryanair’s â€Å"Dublin saga†, the fight over the desired second low cost terminal at Dublin airport instead of considering the creation of a new lucrative base in continental Europe, threatening easyJet’s. Ryanair should consider market development, outlined by Ansoff, e. g. Greece and Turkey, which have a combined population of around 70 million people and offer extremely profitable market opportunities through year-round and holiday flights.The airline should further initiate additional routes from the U. K. or Ireland to other locations in continental Europe that are currently served by higher-cost, higher-fare carriers. Market opportunities of new domestic routes within EU countries, especially new member countries, and increased frequency of service on its existing routes will allow Ryanair to remain focussed on low cost/price and prolong its unprecedented and high levels of growth without jeopardising their core competences. Rivalry among existing players could be reduced by damaging the package tourism industry, e. . Thomas Cook, Lunn Polly and Neckerman (Porter’s 5 forces). Further acquisitions should be considered in the long-term. Ryanair seems to have enough power to counterbalance the demands of buyers and suppliers, to outperform rival airlines in their market segment, and to discourage new firms from entering the business. Their main 10 Global Corporate Strategy – A Case Study on Ryan Air challenge will b e threatening easyJet in its home market, currently serving Athens, and to fend off the â€Å"Value for money† segment that threatens to substitute Ryanair’s services (Porter’s 5 forces).The industry attractiveness for long-term profitability, outlined by Porter (1985), will have a strong influence on Ryanair’s profitability. Porter had ignored the aspect that differentiation strategies can be used to increase sales volumes rather than to charge a premium price. With negative forecast for the low price market, with growth rates of no more than 20 to 25 % of the total market, market saturation is said to be not far off for budget airlines in Western Europe (Ottink, 2004). Instead of the lowest price, the optimal balance between service and price is seen to be the growth market of the future.Value market share will eventually hover around 60 % of the total market (Ottink, 2004). Regarding this threat, the main challenge will be to respond to changing demand s and at the same time to ensure consistency, effectiveness and the coherence of Ryanair’s low cost strategy. At this stage, Ryanair should not compete on service advantage by entering the value market, turning into a portfolio organisation. They should so far seek for other niches, than compromise their low cost approach by reactively adapting to the unpredictable development in the current market.Retrenchment involves cutting back to focus on your best lines, often referred to this as â€Å"sticking to the knitting†. Ryanair should consider the mistakes of their competitors entering new market segments, e. g. Lufthansa by offering deeply discounted flights to Mallorca and Nice, standing up to easyJet. Ryanair should therefore further engage in market penetration and strengthen their market development approach, rather than diversify their services, as outlined by Ansoff (Product Market Framework).However, Ryanair should be aware that its knowledge is a fluid mix of f ramed experience, values, contextual information and expert insight that provides a framework for evaluating and incorporating new experiences and information, as outlined by Davenport and Prusack. Even the company’s formula has been highly successful in the last decades; Ryanair has to check whether their organisational routines are still valid in the new markets (double or tripleloop learning), e. g. the way Mr O’Leary aggressively promotes the low cost strategy.Especially in the new EU member countries his practices, which are said to threaten industrial peace and put EU ministers at unease, need to be revised. 11 Global Corporate Strategy – A Case Study on Ryan Air The self interest of Ryanair might be best served by developing attitudes to ethical issues before they become acute, as the airline is especially vulnerable to hostile campaigns (Value Chain). Ryanair should consider ethical corporate behaviour and social responsibility, currently facing the para dox of profitability (shareholder value perspective) and responsibility (stakeholder value perspective), e. . policies regarding disabled passengers, employee rights and environmental standards. At the moment, the simplicity inside the company does not seem to match Ryanair’s complex environment. Ryanair has to differentiate its message to fend off competitors, e. g. the airline should consider the co-operation with environmental organisations, offering passengers the possibility to pay the price of competitors in the value segment and paying the difference to the original Ryanair price to an organisation that invests in solar energy to reduce the world emissions.Ryanair’s Boeings could be green and the message should be â€Å"flying cheap and doing good†. Customers that might otherwise have switched to the value segment do not mind the voluntary environmental charge and are likely to accept more difficult transfer situations for the â€Å"feeling of doing good †. This differentiation aspect will add value to the company’s reputation and public relations. Ryanair can become the first mover in an industry that will sooner or later need to address the issue of emissions. Creativity and radical innovation are a strategic orientation to sustained competitive advantage.Ryanair should further consider the involvement of employees in the search for unsatisfied customer demand, as outlined by Kim and Mauborgne (2004). Free exchange and flow of information will foster new creative knowledge and help the airline to continually transform itself, e. g. the contact between flight attendants and management should be increased to foster a climate of openness and trust and to capture opportunities. The concept of organisational learning, as outlined by Senge (1990) and extended by Pedler, Bourgoyne and Boydell (1991) and Wang and Ahmed (2003), is crucial to nurture new and expansive patterns of thinking. 2 Global Corporate Strategy – A Case Study on Ryan Air References Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management. Vol. 17, No. 1, p. 99–120 Oklahoma State University. In: De Wit, B. and Meyer, R. (2004). 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An International Perspective. 3rd ed. London: Thomson Learning. 14 Global Corporate Strategy – A Case Study on Ryan Air Appendix: SWOT- Analysis Strength – Quality processes and procedures: features important to the clientele, e. g. punctuality, few cancellations, few lost bags, frequent departures, baggage handling and consistent on-time services. low cost – low fares approach (differentiated service) – Low aircraft equipment costs – Lower maintenance costs and low depreciation costs due to ownership of aircrafts – Fleet commonality – Focus on low cost alternative airports; low airport access and handling costs – Low customer service costs; Internet booking system avoiding costly systems, commissions and sales headcount – Low marketing costs – Revenue enhancing and cost-cutting features, e. g. no seat pockets to allow faster turnaround times – Relationships to suppliers; strong bargaining position with respect to aircraft procurement, e. g. argain price of Buzz acquisition, airport deals and staff recruitment – Concentration on core business through outsourcing – Low labour cost through performance related pay structure; high personnel productivity / staff efficiency ratio – Overall high value and profitability – Location of business; focus on Europe's largest airline market; the UK, in particular the London Area – Increased take-off and landing slots trough acquisition of Buzz, KLM subsidiary – Increased number of seats per plane, enabling lower individual fares but higher per plane income – Short turn-around times increasing the available operational hours per plane. Strong brand and low fare reputation -foreign exchange hedging in transactions invo lving the euro, UK sterling and the US$ Weaknesses – falls in fare yields – Transfer situations from Airports – reputation – no non-essential extras – falling load factors due to continuing decline in unit costs – Decreasing frequency of flights due to need for high load factors, reducing business travel – climate protecting charge on aircraft taking off and landing in the EU, environmental fee might double no-frills operator’s fares, disproportionately greater effect on budget airlines – Ethics and Corporate Social Responsibility 15Global Corporate Strategy – A Case Study on Ryan Air Opportunities – initiating additional routes from the U. K. or Ireland to other locations in continental Europe, currently served by higher-cost, higher-fare carriers – Developing European market for budget sector with large population base / expansion into 10 new EU states – New domestic routes within continenta l Europe. Strongly moving into intercontinental business â€Å"using the principle of simplification and cherry picking† – increasing the frequency of service on its existing routes – considering possible acquisitions that may become available in the future, e. . Lufthansa – connecting airports within its existing route network -Exploiting profitable destinations with both a tourist as well as business segment – Conversion from low fares to a no-fares airline – Fall in average ticket price and increased threat of entry for competitors – loosening of regulations – Decreasing competition – Increased ancillary service revenues – Increasing in-flight sales on longer flights – employee loyalty – focus on environmental issues – innovative marketing for differentiationThreats – Limited market in the North of Europe resulting in low occupancy levels and efficiency of usage of planes – To ugher competition from the traditional and charter airlines which offer cheap hard to beat all-in holiday packages in continental Europe. New competitors in home market – Adaptation of Ryanair’s business model by competitors and innovative substitute services – Incumbent airlines selectively copying the tactics of Ryanair’s on competition routes – small potential markets – high speed trains, subsidised by the state in GER and France, – high speed rail plan in Benelux region -good highway connections in the major market around cities in the Middle and Southern Europe – Scarcity of appropriate located, low cost airports around major cities / decreased bargaining power of airlines – Price war – increasing landing charges – Dependency on world jet fuel prices – war and terrorism – epidemics – EU commission decisions – lobbying politicians – formation of a trade union for pilot s – the weakness of sterling against the euro – Mergers between competitors, e. g. Air France and

Marriot Corporation Essay

2. Is the proposed restructuring consistent with management’s responsibility? 3. The case describes two conceptions of managers’ fiduciary duty (p. 9). Which do you favor: the shareholder conception or the corporate conception? Does your stance make a difference in this case? 4. Should Mr. Marriott recommend the proposed restructuring to the board? Marriott Corporation (A) 1. Why is Marriott’s chief financial officer proposing Project Chariot? What is your assessment of MC’s financial condition? Is this project necessary for the company’s survival?. 2. Is Project Chariot consistent with management’s responsibilities? To bondholders? To shareholders? To the public? 3. The case describes two conceptions of manager’s fiduciary duty. Which do you favor: the shareholder conception or the corporate conception? Does your stance make a difference in this case? 4. Should Mr. Marriott recommend the proposed restructuring to the board? 5. Who will be affected by Project Chariot? Should MC make any concessions to the bondholders? ————————————————————————————————————————————– Ans. 1 Project Chariot involves a conflict of interest between the shareholders and the bondholders since in this case the debt being held by Marriott Corporation (MC) is risky. Project Chariot aims to create MII with low debt and HMC with high debt. Thus bondholders will find that their investment gets tied to risky real estate assets whose appreciation is uncertain. Food management which is a major segment of MC remains with MII. Thus Project Chariot aims to give shareholders the business upside and bondholders the real-estate downside. Hence this appears to be a case of risk shifting. Shareholders stand to gain while bondholders will lose if Project Chariot is implemented. Ans. 2 This seems to be a case of ‘Cashing out’/’Wealth Transfer’ where the ‘overall’ wealth is being transferred from the bond holders to the equity holders. The following points lead us to the direction of it being a ‘wealth  transfer’ type of conflict: * Chariot will result in a loss to bondholders and a gain to shareholders as the bonds will be downgraded by rating agencies and the returns of the bondholders will be attached to a heavily indebted duty * Total Debt will become more risky, and bonds will be downgraded to ‘below investment grade’ level * MC would be divided into two separate companies. MII would do MC’s lodging, food, and facilities management businesses, whereas HMC would retain MC’s real estate holdings and its concessions on toll roads and in airports, Hence bond holders will now have a claim on only the payoffs of HMC and not MII. So, because of the above reasons ‘Project Chariot’ seems like a case of ‘Wealth Transfer’ conflict of interest. Ans. 3 We believe in the broad view of manager responsibility. We think that managers should not only consider the interests of shareholders but also the interests of bondholders, employees, and other related parties. This responsibility is even more important in the case of a B2C company like Marriott. If they get†¦ 1. If the Project Chariot is implemented i.e. Marriott is divided into 2 companies Marriott International(MI) with the risk free profit generating operating hotel and service business while the other Host Marriott(HM) a would own Marriott’s hotel and undeveloped real estate businesses and other non service businesses, this will affect the following players: a) Shareholders: Shareholder now have majority stake in a corporation with a lower probability of default while all the risk is transferred to debt holders. So all the risky investments are highly leveraged with bond holders exposed to the risk. On the other hand MI backed mainly by shareholders equity and performing assets and thus would be able to issue new debt increasing value for both shareholders and the corporation. Thus the shareholders would gain at the expense of bond holders and the equity value of the company would increase. b) Bondholders Bondholders had a lot to lose as according to Project Chariot almost all the debt would be assigned to HM. Given the problems in real estate and hotel markets there was a concern of HM’s ability to meet its debt payment and there was a high probability of default. This meant that the risk was issued at investment grade but now was not backed by valuable assets of the companies which were to be spun off to MI which was to be backed by equity. The value of the bonds would decline substantially and the bond holders would loose a lot of their investment. c) Management(The Mariott brothers) The management gains from the spin off since it is able to split its distressed assets from the profit driving assets and there was a new company which was not under distress thus helping them retain their management positions and start from scratch. They can concentrate on core businesses thus improving efficiency and value. d) The value of the whole company: The spin off does not create value for the company as a whole but only distributes the†¦ What: Under Project Chariot, Marriott Corporation (MC) would become two separate companies. The new company, Marriott International Incorporated (MII), would consist of MC’s lodging, food, and facilities management businesses, as well as the management of its life-care facilities. The existing company, renamed Host Marriott Corporation (HMC), would retain all MC’s real estate holdings and its concessions on toll roads and airports. Why: This project is being proposed because the economic slowdown in the late 1980s and the 1990 real estate market crash left MC owning many newly developed properties for which there were no buyers, together with a massive burden of debt. The new company (MII) would have the financial strength to raise capital in order to take advantage of investment opportunities. The existing company (HMC) would take on the newly developed properties and most of the existing debt. HMC would be valued for the chance of appreciation in the property holdings when the real estate market recovered, not on the basis of earnings, thereby reducing the pressure to sell properties at depressed prices. 2- The fiduciary duty of management is to the shareholders  because they are more than creditors; they are the actual owners of the firm. Management is entrusted with the responsibility to increase shareholder value and their main focus should be on investing in projects that accomplish that task. As stated in the case: â€Å"U.S. courts had held that corporations have no responsibilities to safeguard the interests of bondholders other than those spelled out by the terms of the bond indenture†. 3- I first looked at the initial market reaction; the change resulting from October 2, 1992 (pre-announcement) through October 7, 1992 (post-announcement). I used October 7 for my initial market reaction because in 1992 many people may have still relied on newspapers for investment information. In addition, I assessed this narrow amount of time separately because widening the range of dates used to evaluate the change in prices may allow other variables outside of Project Chariot to come into play. However, I also looked at a wider range of time [October 2, 1992 (pre-announcement) through December 31, 1992]. If you can reasonably assume no extraneous variables affected the prices during this time, widening the range of dates assessed can give an idea of the impact to prices after the initial market over/under-re†¦

Essay about Purpose of Ruth - 949 Words

The Book of Ruth, although one of the smallest books in the Old Testament, has many values displayed in its mere four chapters. Throughout the book, readers are shown the struggle of Ruth and her mother-in-law, Naomi, as they try to survive in a patriarchal world. In chapter one Ruth and Naomi’s initial endeavor is revealed. Both Naomi and Ruth’s husbands die and they are left abandoned, but together, after Ruth refuses to leave Naomi. By chapter two Naomi and Ruth have made it to Bethlehem and Ruth encounters Boaz for the first time while gleaning in his fields. Chapter three is when Ruth and Boaz start to form a romantic relationship; after Naomi tells Ruth to go to the threshing floor and lay at Boaz’ feet. Ruth obeys and when Boaz is†¦show more content†¦Where you die I will die, and there I will be buried. May the Lord deal with my, be it ever so severely, if anything but death separates you and me. (â€Å"Life Application Study Bible† 382) Ruth shows her true faith and loyalty for God, which any and every modern Christian should strive to mirror. However Rush’s loyalty is also shown for Naomi in verses sixteen through eighteen. Naomi pleads with Ruth to go back to her family. Ruth, despite the fact that she is defying Naomi, refuses to return home. Ruth unlike other biblical characters does not let her loyalty stop at merely following orders given to her. Instead Mira Morgenstern author of Ruth and the Sense of Self: Midrash and Difference comments that â€Å"Ruth affirms that she will always do what is [ethically and religiously] demanded of her, but will utilize methodologies consonant with her own judgment† (16). Ruth remains loyal to Naomi despite Naomi’s objections because Ruth is certainly doing what she thought was best for Naomi. By staying with Naomi, Ruth makes unexpected personal sacrifices. Ruth does not only remain loyal to God, but she also remains loyal to her kin even if the price s eems too steep, because she knows her God will always provide. Twenty-first-century Christians could learn many lessons from Ruth’s unwavering relinquishment for her people and her God. Ruth does not only offer loyalty but also provides Naomi with a source of stability. It can be said that Ruth takes on a man’sShow MoreRelatedRuth Is A Biblical Story1372 Words   |  6 PagesRuth is a Biblical story loved by many. A story of God’s unexpected plan panning out in a style that only He could come up with inspires many to trust His direction. The movie, titled The Story of Ruth, conveys this message though the movie does not always adhere to perfect Biblical accuracy. The addition of certain events and characters enhances the movie’s appeal, yet distracts from the factual account presented in the Bible. The movie begins with Ruth being sold for service to Chemosh in orderRead MoreThe Book Ruth 1024 Words   |  5 PagesTaylor Blais Pastor Dave Delacruz Old Testament NELC 2015-2016 The Book of Ruth History is something that every human being must refer to and it cannot be helped. It does not matter if you work in fashion design, an artist in an art studio, or working for an automobile company such as Ford; we all reference what the past has taught us. It is foolish to press forward and not look back to discover how others achieved great heights, or to prevent great tragedy and disaster. No one wants to see anotherRead MoreIn the Mist of A Storm: The Book of Ruth Essay1241 Words   |  5 Pagesdissertation will explore the book of Ruth and challenge the reader to see Gods glory in the mist of a storm. What storm you might ask? I will explain that in just few paragraphs, but before we look closely at the details of the book will take some time to comprehend the key characters that makeup the book of Ruth. Will also review what I believe to be their purpose for being intricately woven into this great revelation of Gods grace and mercy. The Characters of the book of Ruth The protagonist of this storyRead MoreThe Book of Ruth Essay676 Words   |  3 PagesThe Book of Ruth Ruth is a story about loyalty, love, and faith. The simple love story is a key to understanding the plan of God for love, and marriage as revealed in the scripture. So simple, yet so powerful when understood, this book is dedicated to the scriptural explanation ofRead MoreBible Dictionary Project Essay668 Words   |  3 Pagesdescendants of Abraham. Ruth The book of Ruth writer or author was anonymous, however the possibly author could be Nathan. The date it was written was between 1020-1000 BC. The timeline of this book is interweaved throughout the period of the Judges. The key characters or personalities include Ruth, Naomi, and Boaz. The book of Ruth is a narrative love story. The book of Ruth is a story of Ruth and Boaz and it exemplifies the theory of redemption. The purpose of the book was to exhibit theRead MoreOld Testament Bible Dictionary Project1024 Words   |  5 PagesDICTIONARY PROJECT Tania Clark L28322086 BIBL 104: B51 10/01/2016 Old Testament Bible Dictionary Project: Ruth The book of Ruth is a book about sacrifice, faith, patience, love, kindness, restoration, and fruitfulness. The basic literary is narrative and the authorship is believed to be Samuel written between 1020 – 1000 BC. The main personalities of this book are Ruth, Naomi, and Boaz. The Book of Ruth is about how a man named Elimelech takes his wife Naomi and their two sons Mahlon and Chilion fromRead MoreGood and Bad Doctors935 Words   |  4 Pagesunderstanding our disease and treatment. Ruth Westheimer shows that she’s a good doctor by caring about her patients and being honest, whereas Josef Mengele lied and performed certain procedures on patients that were crucial. Ruth Westheimer and Dr. Josef Mengele both have an education yet, Dr. Mengele lacks the same ethics and honesty towards patients. Ruth Westheimer grew up in the Wake of the Great Depression, and out of the economic ruin grew Nazism and Hitler. When Ruth was 17 World War II ended andRead MoreThe Controversy Concerning The Ethics Of Human Cloning1008 Words   |  5 Pagesclone?† by establishing that humanity is more than the way one enters the world and by highlighting the unethical issues that may arise from cloning. Never Let Me Go illustrates the humanity of the cloned characters - Kathy, Tommy, and Ruth - as they attempt to determine the roles they play in the world. The film begins by introducing the characters when they were children attending Hailsham School. Just like ‘normal’ children, they seek companionship from each other and in the processRead MoreThe Color of Water: a Black Man’s Tribute to His White Mother960 Words   |  4 PagesProfessor Crawford English 102 14 April 2011 The Color of Water: A Black Man’s Tribute to His White Mother James McBride was born in 1957 to Ruth and Dennis McBride and was raised in Brooklyn’s Red Hook projects with his eleven brothers and sisters (Bodhos 2). In 1997 McBride’s bestselling memoir The Color of Water: A Black Man’s Tribute to His White Mother was published. The story is uniquely written in double voice with chapters alternating between chapters as the author recountsRead MoreRole of Ruth and Esther in the Bible1372 Words   |  6 Pagesexplains their role as women in the Book of Ruth and the Book of Esther, from the Hebrew bible. Ruth and Esther are stories of heroines; the contrast in the purposes of Ruth and Esther sharply distinguishes the books. The Book of Ruth basic plot is as follows: The prologue tells us how Naomi, her husband and two sons went to Moab, where her sons married. Eventually, Naomi’s husband and sons died, and she decided to return to Bethlehem in Judea (Ruth 1:1-7). In the first act, Naomi tells her

Dirty Facts About Apa Research Paper Format Example Uncovered

Dirty Facts About Apa Research Paper Format Example Uncovered Lies You've Been Told About Apa Research Paper Format Example It's possible to also describe the range of your research. If needed, you can supply the list of the principal keywords of your paper, it is going to help different people should they need to locate your work in internet databases but you ought to use only keywords that describe your research in a suitable way. In the era of the net, it is getting increasingly important to make certain that your research are available, both on the net and on university intranet search facilities. The ideal place to begin your research is on the internet since it will provide you direct details. There are two sorts of in-text citations. A consistent structure ought to be used in the key headings and the subheadings. Please be aware that the 4 forms of headings and the numbering systems employed for them is given just for the very first chapter. You can bold the principa l headings and highlight the subheadings to produce your document appear neat. Research Paper preparation means handling a whole lot of information. The framework of the way to write research papers have turned into the most distinguishable portion of each formatting standard. General formatting guidelines rarely differ from one another in several frameworks. In Microsoft Word, it's simple to set double-spacing for the entire document. Whispered Apa Research Paper Format Example Secrets As soon as your order is placed you can be certain of a brilliant bit of work. You will be happy you filled up the purchase form. Your document may have an intricate structure, especially in the event the main body will be big. You should have your reasons, and our primary concern is that you find yourself getting a great grade. Apa Research Paper Format Example Secrets That No One Else Knows About Paper Wizard the quickest way to find that paper done and find a great grade. Your paper need s to be double spaced. Then write the abstract part of your paper only after you're completely finished writing your paper. The whole paper gets simple and convenient to read for everybody. There are various points to think about in order to reach a great research paper by means of either a grid paper template or a lined paper template, based on your preference or the research requirement. Possessing a best outline increases the odds of you presenting a research paper that's well written. If you read an illustration of APA paper, you can observe that running heads aren't always mandatory. New Questions About Apa Research Paper Format Example Most reports have a minumum of one appendix section to make it possible for you to include data, figures and calculations without breaking the stream of the principal body of the report. The table of content section is regarded as highly crucial in writing various kinds of academic and non-academic reports. You have the ability to write only its major sections or present a thorough plan with several subsections. To conserve space in the examples, just the first section of the outline will demonstrate the correct spacing. Th ere's, obviously, a limit on the variety of pages even our very best writers can produce with a pressing deadline, but generally, we figure out how to satisfy all the clients seeking urgent assistance. If you're not certain how to then ask the computer department for aid. So long as you're consistent and include all the info that will make it possible for somebody else to replicate your research then it ought not matter. Personal information is one other way to acquire information. APA format is usually utilised in the social sciences. It is popular among students due to its simple guidelines and approach. It will help you to organize your paper well. Utilizing APA format means you're following an internationally acceptable writing style to which the majority of the readers are extremely familiar also. You may probably be aware that the structure of some academic papers is dependent on both formatting and variety of paper. If your instructor offers you the APA guidelines then great for you. The papers could be rejected if they don't apply the APA format. Apa papers are often broken into sections. If you are able to locate an essay associated with your subject, you can rewrite it to accelerate the practice. You should have a synopsis of your research in the debut of your report since it will supply a non-specialist with a fast history of the area. To ease your work, you can use various on-line citation generation tools along with essay templates in APA. Relevant journals you've been reading are also a great guide. Choosing Apa Research Paper Format Example The APA style table of content appears to be quite professional and well-edited in the event of following all the needs of the template. Examine examples of such works to comprehend how to write them and what style you oug ht to use for formatting them. The style may vary somewhat between different department (including the style of references), but it's mostly similar. Make certain you rely on the conventional font style and size. What Does Apa Research Paper Format Example Mean? You might also see book outline. You can also see essay outline. You could also see chapter outline. You could also see biography outline.

Examples Of Attainment Of The American Dream In The Great...

The Attainment of The American Dream within The Great Gatsby For much of its existence, the Human race’s goal has been to obtain the most money so that they may gloat about everything they have and make a place for themselves at the top of the social ladder. In 1920’s, wealth was the fundamental way of claiming your place in the world. This was shown by the characters of The Great Gatsby written by F. Scott Fitzgerald. This book features the battles to create a happy life for yourself and all the mess in between. Undeterred by heritage, race, and class you can obtain the American Dream through perseverance and commitment to your work. In the novel, Gatsby shows perseverance through his relationship with Daisy Buchanan. She was an old†¦show more content†¦Nick is quoted saying â€Å"They’re a rotten crowd...you’re worth the whole damn bunch put together.† Nick is referring to Gatsby, this shows the kind of love Nick has for Gatsby. In the end, Gatsby is shot and Nick is left shattered. Firstly, because he has just lost a dear friend, and he gets a glance as to whom truly cared for Gatsby. Which was in fact no one but Nick himself. Nick is left torn as to whether or not he should forget all about Gatsby and his situations in New York or remember Gatsby for the bond they shared and what an impact he had made on Nick’s life. In today’s times many would say the American Dream is to have a comfortable lifestyle. In order for this to be achieved it is fundamental to have an education. This consists of going to grade school, high school, then to a university, college, or technical school. Now you may seek out a person in high school such as myself and ask the question, â€Å"Do you feel that you need to have great perseverance in order to graduate from your schooling?† I can almost guarantee that any person would respond with a strong â€Å"YES!† The average teenager needs about 8 hours of sleep to be fully functional and restored from the previous day. Many students juggle the responsibilities of a job, at home duties, schooling, and a social life, leaving not much time for their bodies and minds to reboot. This is where the perseverance part would come intoShow MoreRelatedThe Great Gatsby By F. Scott Fitzgerald1335 Words   |  6 PagesThe American Dream is a philosophy based off of starting from nothing and achieving family, fortune, and fame. The belief that self-determination and hard work will lead to the attainment of the American Dream is strongly tied with the American culture. This philosophical idea, however, is not portrayed in The Great Gatsby by F. Scott Fitzgerald, which is often referred to as one of the â€Å"Great American Novels† to date. In terms, a â€Å"Great American Novel† should portray an honest and well-rememberedRead MoreF. Scott Fitzgerald s The Great Gatsby Essay1490 Words   |  6 PagesScott Fitzgerald’s ‘The Great Gatsby’ seems to suggest that Gatsby s rags-to-riches success story makes him an embodiment of the American Dream. However, upon deeper of his character has yielded that there are aspects of Jay Gatsby that call into question his so called success. As a result, I have concluded that F.Scott Fitzgerald’s novel, although still displays the overarching theme that is the American Dre am it, in fact, portrays ‘The disintegration of the American dream’ through the characterRead MoreSymbolism Of The Great Gatsby By F. Scott Fitzgerald1130 Words   |  5 Pagesmeaning to the mind of the readers. The reader is forced to think, make connections, and succeed in adding a new meaning to the novel. F. Scott Fitzgerald is a master of hiding deeper meanings behind a text as clearly showcased in the novel The Great Gatsby. The â€Å"iceberg theory† describes that only around 20% of the story is directly revealed through text. In comparison to an actual iceberg, that is usually the portion of the floating ice mountain that is visible above water. The other 80% of theRead MoreThe Great Gatsby By F. Scott Fitzgerald1413 Words   |  6 PagesEverybody has dreams, and everybody must deal with reality – that is the nature of life. A dream can be defined as something imagined, an ambition or an ideal, and reality is the term assigned to all things real. Humans, by our very nature, are ambitious, ever pursuing our dreams, our deepest desires. It is the very purpose of life to make our goals our aspirations, real. Therefore it is the nature of life to live through reality and to dream. It is fitting, then, that many texts have beenRead MoreThe American Dream By F. Scott Fitzgerald And Death Of A Salesman Essay1391 Words   |  6 PagesProminent American writer and historian James Truslow Adams once wrote, â€Å"The American Dream is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement. In both The Great Gatsby by F. Scott Fitzgerald and Death of a Salesman by Arthur Miller, the main characters search for the achievement of the American dream in themselves and the world around them. While the American dream is defined differently for theRead More F. Scott Fitzgerald’s The Great Gatsby - A Life Foolishly Lived1403 Words   |  6 PagesThe Great Gatsby:  Ã‚  A Life Foolishly Lived  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚      Released in 1925, F. Scott Fitzgerald’s novel, The Great Gatsby cleverly demonstrates the manners and morals commonly practiced throughout the time period. The plot revolves around several main themes and effectively expresses Fitzgerald’s unique perspective. With an objective standpoint, Nick Carraway narrates the story as Jay Gatsby, a foolish racketeer, tries to win over his lifelong love, Daisy Buchanan. Although pecuniary matters canRead More Comparing the Perversion of Values in The Great Gatsby and Death of a Salesman1642 Words   |  7 PagesPerversion of Values in The Great Gatsby and Death of a Salesman      Ã‚   Throughout History there are many examples of perversions, from sexual, social to the very morals themselves. One of the greatest examples is the continuous corruption of the American Dream. As the Dream evolves, it tends to conform to the illicit dealings of the time and immortals of society. No longer is an individual interested in working hard to achieve goals, it is desirous of the quick fix. Society wants its wishesRead MoreAt First Glance F. Scott Fitzgerald’S Book The Great Gatsby1190 Words   |  5 Pagesbook The Great Gatsby is a simple love story that is eventually brought to a tragic end by a disillusioned man seeking vengeance. Additionally, one can easily see that this love story is intermingled with many interesting and ironic elements including prestige, wealth, vanity, and ultimately, tragedy. However, when one delves deeper into the precepts of this book, one will easily see that it is full of symbolic language that represents a disheartening, fatalistic view of the American Dream. Once thisRead MoreThe Great Gatsby By F. Scott Fitzgerald1190 Words   |  5 Pagesbook The Great Gatsby is a simple love story that is eventually brought to a tragic end by a disillusioned man seeking vengeance. Additionally, one can easily see that this love story is intermingled with many interesting and ironic elements including prestige, wealth, vanity, and ultimately tragedy. However, when one delves deeper into the precepts of this book, one will easily see that it is full of symbolic language that represents a disheartening, fatalistic view of the American Dream. Once thisRead MoreThe Great Gatsby By F. Scott Fitzgerald2017 Words   |  9 PagesHonors American Literature January 7, 2015 Written in 1925, The Great Gatsby by F. Scott Fitzgerald follows Jay Gatsby in his quest to win back Daisy Buchanan, the love he lost five years earlier. Gatsby’s endeavor leads him from poverty to wealth, and eventually to death. The novel presents a clear picture of 1920’s culture in America, where people’s idea of the American Dream is simply riches and fame. The American Dream is the fundamental force which drives most characters in The Great Gatsby, but

Computers and Ethics in the Workplace Example For Students

Computers and Ethics in the Workplace This paper discusses issues with ethics that have derived in the workplace as a result of the use of business computers. The definition of computer ethics is simple; they are a set of moral principles that intend to help with the regulation of the use of computers. Some common problems with computer ethics consist of privacy concerns, intellectual property rights, and the way computers have an effect on people. In other words, computer ethics refers to the ways people take ethical traditions and test, stretch, apply, negotiate and break in the realm of computer technology. As technology continues to evolve, there are a great deal of ethical issues and principles of behavior concerning privacy and accurateness for managerial leaders to deal with. In finding the issues of ethics that the Technology Age has brought to the workplace, organizations must be hands-on when it is time to highlight ethical use of technology by employees. Making sure that employees are knowledgeable on the proper policies the organization has on computer ethics. Promoting good computer ethics is a great way for companies to keep morale high and unnecessary issues from arising in the workplace. Introduction As technology like computers progresses, they will continue to contain a larger impact on people in today’s society. For that reason, computer ethics supports the how some debate on just how much influence computers need to have in human communication. With computers evolving constantly, ethical standards will continue to be constructed by computer ethics and will always have newer concerns that come from recent technology. With the new changes in technology like computers, more supervisors are coping with having to manager employees for proper use of company computers; they have to stay informed of all new ethical problems and the laws that were created to enforce ethics with workers.   These are problematic areas, particularly with the arrival of the World Wide Web. To date, there have been problems with employees using company computers for purposes other than work. This subject has become more of a problem in today’s society and has been addressed by employers through monitoring computer usage, creating written policies, and enforcing other tactics to teach and inflict the ethics of computer use to employees at all levels. This paper topic was inspired through my own experience of an employer who felt that productivity was lower than past years, due to employees who utilized the Internet for reasons other than work. Today, we have monitored email and they are able to tell what Internet sites we visit daily and the duration of the time we are on that site. I must say as an employee, I felt violated for not being able to utilize the Internet throughout the day, as I am someone who still gets my work done each day no matter what. But I can see their reasoning behind and cannot blame them for keeping an eye out. Current Situation Ethics is a set of truthful principles that oversee the actions of people. As a result, computer ethics goes hand in hand with ethics with the intention to control how employees use computers. Often times, frequent issues with computer ethics consist of privacy concerns, intellectual property rights, and the way computers have an effect on people. In other words, computer ethics refers to the ways people take ethical traditions and test, stretch, apply, negotiate and break in the realm of computer technology. A current study shows how computers are making a heavy affect on ethics at work.   One study said that almost half of the people they polled said they have participated in some kind of unethical act that relates to computers at work in the last 12 months. Another study found that one out of six working people believes conventional thoughts of moral and immoral have been superseded by new technologies (Websense and Saratoga Institute). These days, its almost impossible for one to keep up with how fast technology advances and has a significant influence on how we do business these days. Corporations, management and employees have to be able to keep up with the changing times in order to be competitive in their profession. The Internet creates an interesting predicament, with many employees utilizing it at work on a daily. The main concern is whether communication and information by way of the Internet should be monitored; this concerns both business and personal communications at work. This issue of employees and the Internet at work is a concern of many employers and managers, because in most cases it affects productivity. These days some employees have taken the use of Internet at work to an even more unethical level of viewing explicit content on work computers and this raises even more red flags for work computers to be monitored and have restrictions. The United States Congress created the Communications Decency Act of 1996 to help with regulating pornographic things on the Internet. In 1997, changes were made to the Act and Title V of the Communications Decency Act affected the Internet and online communications. The most notorious portions of this Act were the ones that related to unsuitable content online. The significant part of the Act was initiated in reply to worries that Internet pornography was becoming an issue to society. If the government could find a way to really enforce inappropriate material on the Internet like pornography, would definitely help to decrease the amount of staff who find it ok to do such an outlandish thing with work property (Myers 2006). The impact of employees using work computers and the Internet for reasons other than work related tasks could affect a company tremendously. Some disadvantages to the company would face, includes: o The level of productivity to decrease o Risking protection of classified company information o Losing assets like computers and other company equipment o Risking the protection of the entity and company status When it comes to employee privacy, many argue that it’s a violation for them to be monitored at work, but below are three examples of companies taking action from monitoring employees: †¢ Dow Chemical fired about a great deal of employees and regimented 200 employees for an investigation that discovered employees emailed inappropriate images from company technology. (â€Å"Dow Chemical Fires 50 Over Offensive Emailâ€Å", 2000) †¢ Xerox also let go of 40 employees for taking up too much of work time to look at pornographic websites and partake in online shopping on the Web. (â€Å"Dow Chemical Fires 50 Over Offensive Emailâ€Å", 2000) †¢ The New York Times terminated 22 staff members last year for allegedly distributing offensive emails. (Dow Chemical Fires 50 Over Offensive Emailâ€Å", 2000) In reply to company worries, H.R. 4908 Notice of Electronic Monitoring Act was introduced to Congress on July 20, 2000 to deal with employees and their privacy. A projected law states: â€Å"Any employee who intentionally, by any electronic means, reads, listens to, or otherwise monitors any wire communication, oral communication, or electronic communication of an employee of the employer, or otherwise monitors the computer usage of an employee of the employer, without having provided the employee notice†¦ shall be liable to the employee for relief†¦Ã¢â‚¬  (â€Å"Notice of Electronic Monitoring Act†, 2000) Options An employer has the right to view company property like computers, to check computer usage, e-mails, etc. Some options for employers could be to include guidelines in an employment handbook or contract. Even though there is nothing set in stone, but in most cases an employer can screen how company workers use computers, unless prohibited or restricted by law. Some options may include dividing office desk in sections of cubicles so that no employee feels private enough to want to utilize the wrong content on a work computer. In an office an employee is able to close a door and blinds to do who knows what on their work computer. Another option may be to scan emails randomly, or limit that amount of places on the Internet that can be accessed from a work computer. Another option may be to make all employees sign a pledge that they agree to not abuse work computers for personal reasons. Recommendations Monitoring staff at work seems to be more effective with the amplified accessibility of low-cost monitoring technology. Some recommendations that may be used in an employee surveillance system are below: .u621ac5267f3a0e69694efbce98e77a01 , .u621ac5267f3a0e69694efbce98e77a01 .postImageUrl , .u621ac5267f3a0e69694efbce98e77a01 .centered-text-area { min-height: 80px; position: relative; } .u621ac5267f3a0e69694efbce98e77a01 , .u621ac5267f3a0e69694efbce98e77a01:hover , .u621ac5267f3a0e69694efbce98e77a01:visited , .u621ac5267f3a0e69694efbce98e77a01:active { border:0!important; } .u621ac5267f3a0e69694efbce98e77a01 .clearfix:after { content: ""; display: table; clear: both; } .u621ac5267f3a0e69694efbce98e77a01 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u621ac5267f3a0e69694efbce98e77a01:active , .u621ac5267f3a0e69694efbce98e77a01:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u621ac5267f3a0e69694efbce98e77a01 .centered-text-area { width: 100%; position: relative ; } .u621ac5267f3a0e69694efbce98e77a01 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u621ac5267f3a0e69694efbce98e77a01 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u621ac5267f3a0e69694efbce98e77a01 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u621ac5267f3a0e69694efbce98e77a01:hover .ctaButton { background-color: #34495E!important; } .u621ac5267f3a0e69694efbce98e77a01 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u621ac5267f3a0e69694efbce98e77a01 .u621ac5267f3a0e69694efbce98e77a01-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u621ac5267f3a0e69694efbce98e77a01:after { content: ""; display: block; clear: both; } READ: Multiculturalism in music Essay Workplace searches-Companies have the right to search property of the business that includes: filing cabinets, lockers, desks and office documents, without permission from their employees. However, it is best for the employer not seem threatening or unlawful. Camera Monitoring-Employers can install surveillance systems in and throughout the company buildings unless prohibited by State law. Polygraph Testing-May not be the best option because this is prohibited in certain states. However, if it is acceptable, the staff member may have a right to decline without receiving discrimination or reprisal by the employer. For employees, I would recommend: o Keep online activity at work to a minimum o Keep away from websites that you know are not appropriate from work o Never send an email that you wouldn’t mind your boss reading one day o Always be professional and remember your main reason for your position at your place of employment o Please be mindful that many employers may not even mention that they monitor their employee’s activities and just because you don’t know, don’t assume it doesn’t happen. Conclusion In today’s society, technology plays in big role in the day-to-day operation of a company. Employees utilize computers for e-mail communication, research, document editing, file storage and so much more. One thing that is becoming more of an issue within companies is the unethical acts that employees do on their computers at work. It is essential that an employer stresses to their employees that making the decision to misuse n a work computer or network is wrong and in some cases, employees will be punished for their actions. A good way for employers to boost office morale and keep employees from not doing their job to their fullest potential is to live by a code of ethics that stresses creating value and everything a company stands for This is what employees can reference when making good decisions at work when it comes to utilizing computers properly for their job. References Bresnahan, T. and S. Greestein (2001), The Economic Contribution of Information Technology: Towards Comparative and User Studies, Journal of Evolutionary Economics, 11, 95-118. Case, C.J. and Young, K.S. (2002) Employee Internet Use Policy: An Examination of Perceived Effectiveness. Issues in Information Systems. 3(1): 82-88 â€Å"Notice of Electronic Monitoring Act – H.R. 4908†. United States House of Representatives, 106th Congress. (July 20, 2000).Available at http://thomas.loc.gov/. Mason, R. â€Å"Four Ethical Issues of the Information Age†. MIS Quarterly, vol. 10 no. 1. (1996). Websense and Saratoga Institute. Survey on Internet Misuse in the Workplace. March 2000:1-6. Myers, Ken S. (Fall 2006), Wikimmunity: Fitting the Communications Decency Act to Wikipedia, Harvard Journal of Law Technology 20: 163 â€Å"Dow Chemical Fires 50 Over Offensive Email†. The Associated Press. (July 28, 2000)Available at http://news.cnet.com/news//0-1007-200 2372621.html?tag=st.cn.sr.ne.1 Collier, J. and R. Esteban (2007).Corporate social responsibility and employee commitment. Business Ethics: A European Review 16(1). 19–33. Davidson, K. (2005). Business Ethics. Ethics. J. K. Roth. California, Salem Press Inc.: 181–187.

Speech Pathology As A Career Essay Research free essay sample

Speech Pathology As A Career Essay, Research Paper For the many people afflicted with a address hindrance, there frequently seems to be small hope. Many of these people are ridiculed as kids, or cast out of society as a immature grownup. Many are sent to physicians and specializers who try to find what is? incorrect? with them. On juncture, they will run into a individual who can assist them, and finally, alter their life for the better. This individual is a speech patholgist. As one adult female, the female parent of three, said: ? I think the one thing I would wish to do certain this articles says is that address therapy is good worth the clip invested, that these services are decidedly out at that place? ( Greene ) . One of the most rewarding, digesting, and spread outing professions is speech pathology. Speech pathology is a new profession. It is besides a slightly controversial one. We will write a custom essay sample on Speech Pathology As A Career Essay Research or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Many believe that it has its virtues ; nevertheless there are a few noisy people who believe that address pathology is a useless aspiration. They believe that kids enduring from a address upset will finally turn out of it. However, that goes along with the district of being a comparatively new medical profession. It foremost surfaced in the late fortiess, after World War II. Many soldiers returned from the frontlines with caput lesions that limited address. Teachers, brain doctors, and other physicians wanted to assist the injured work forces, and a profession was born ( Enderby and Emerson 1 ) . Speech diagnosticians work with people who can non talk clearly or at all. They besides work with people who have jobs with get downing and eating. Working with a address diagnostician may be an audiologist, who works with the hearing impaired ( Price ) . The address diagnostician attempts to happen what the perpetrator of a patient? s address job might be. These jobs include rhythm jobs, r ough voices, and jobs with groking the linguistic communication. Speech pathologists evaluate the patient? s demands by utilizing formal trials to detect his or her ability to do sound. Once they have identified a job, the address diagnostician begins intervention. The address diagnostician will utilize? unwritten stimulation, activities that develop linguistic communication and address accomplishments, and the pattern of articulation, instructions in external respiration, and sound support? ( Hirsch ) . Speech diagnosticians work with both kids and grownups. The patients frequently suffer from a broad assortment of jobs: tardily development, cleft roof of the mouth, hearing loss, mental deceleration, encephalon harm, shot, or emotional jobs ( Reich 177 ) . It is of import that kids with suspected address upsets be screened early because research has shown that these upsets can take to larning disablements later in life ( Kalb and Namuth ) . The aged frequently need assistance as th eir hearing diminutions with age. Address diagnosticians, besides called address healers, run many different trials on their patients. Once the trials have yielded a sufficient consequence ( adequate to do a diagnosing ) , the address diagnostician will make interventions for the patient. These may include verbal games. The speech diagnostician may hold the patient work with organizing right sounds, or they might work with take a breathing forms. Sometimes the job is psychological, and so the address healer will non merely work with the patient and their verbal accomplishments, but he or she might convey in another physician. The address diagnostician is a member of a group working together for the good of the patient. This group might include: head-shrinkers, psychologists, brain doctors, otolarynologist, and societal workers ( Anderson and Snyder ) . Speech diagnosticians can non be impatient, random people. A speech diagnostician must be a caring individual. His or her bosom must be filled with compassion and love, but besides with finding and intense concentration. A address diagnostician is person that truly wants to give to another individual. The address diagnostician might even experience commiseration for the patient, but that is non what is needed. A crisp sense of way and deep concentration on the advancement of each and every person is critical non merely for the success of the patient but for the address diagnostician, excessively. He or she must possess a good sense of objectiveness, and must non be frustrated by slow advancement. A speech diagnostician needs a acute oculus for inside informations. These inside informations are frequently the keys to assisting a individual unlock his or her voice. A speech diagnostician should be able to advocate his or her patient and the patient? s household. One must non merely be a healer, but a friend, a function theoretical account, and a confidante. Bing a address diagnostician is one of the most rewarding callings available. After passing one? s clip, attempt, and concentration on a individual, a address diagnostician gets to see the terminal consequence. Watching a diffident kid become one of the most articulate pupils in category, or seeing a hubby state his married woman that he still loves her is about payment adequate. ? Sing firsthand the rehabilitation of kids and grownups with hearing and address jobs? is something that affects the psyche ( Kleman 227 ) . Bing able to hold helped that individual along the manner warms the bosom of even the cruelest adult male. In order to harvest the wagess of address pathology, one must first finish high school, and so travel to college. During high school, one should hold a strong background in scientific discipline. If it is at all possible, an draw a bead oning address diagnostician should besides take categories in psychological science. Upon entryway of college most will obtain an undergraduate grade. Surveies should include anatomy, biological science, physiology, natural philosophies, and address related countries: linguistics, semantics, and phonetics ( Hopke 638 ) . The address pathology major should besides take classs in psychological science and acoustics. Graduate preparation is made up of five general subjects: the development of linguistic communications, address and hearing ; rating of patients ; the nature of address jobs ; research techniques ; and intervention ( Gregory 773 ) . After attendin g college and graduating with a grade, the new speech diagnostician must go through a written test to be licensed. This test, given by the American Speech-Language-Hearing Association ( ASHA ) , is known as the Certificate of Competence. ASHA is an organisation, similar to a labour brotherhood, made up by address diagnosticians and audiologists. It is nearing the 90,000 grade in members ( Danser ) . The Certificate of Competence is critical and compulsory in most instances. All of these members have non merely passed the trial, but besides have had a yearlong internship. Speech diagnosticians must hold 300-375 hours of clinical experience before licensing, which is compulsory in 36 provinces ( Hopke 638 ) . ? With such a strong accent on instruction, practical experience, and licensure, entrants to this field must work long and hard? ( Princeton ) . A speech diagnostician must be able to concentrate on all of his or her surveies, because each and every fact he or she learns will be p ut to later usage. Address diagnosticians are in high demand. Jobs chances for address diagnosticians are on the rise. Registration has doubled at schools offering speech pathology as a major. Fontbonne College, in Missouri, says that one hundred per centum of their alumnuss are employed ( Tucci ) . This tendency is expected to go on. In fact, due to the ripening of America, peculiarly of its Baby Boomers, many more speech diagnosticians will be needed by the twelvemonth 2000. Approximately the demand will be for more than 15,000 new address diagnosticians ( Kleman 226 ) . ? About half of the new occupations originating through the terminal of the decennary are expected to be in address and hearing clinics? ? ( Hopke 639 ) . This is really good for the people in this line of work. About half of all address diagnosticians work within the school scene. The other diagnosticians work in infirmaries, clinics, or with place wellness attention services. The fastest turning country of address pathology is that of the private pattern. The address diagnosticians in schools work with kids, from simple through high school degrees. Address diagnosticians that work in more of a medical background pass their clip with kids besides, but they do a batch of work with older individuals. Speech pathologists working in medical installations trade with caput injury and more terrible signifiers of address upsets than the address diagnostician located at the local simple school. Speech pathologists work about 40 hours a hebdomad. While researching, a address diagnostician might be on the occupation for a much longer period of clip. Most available occupations offer typical benefit peripheries. These include sick leave, paid holidaies, and retirement plans ( Hopke ) . Address diagnosticians that work in schools earn about $ 30,000.00 a twelvemonth upon go outing college. After some experience, the mean pay is about $ 38,000.00. Address diagnosticians that work in infirmaries or clinics make around $ 38,000.00 get downing out, but after a few old ages of work, they earn about $ 42,000.00. In place wellness attention services, a address diagnostician earns about $ 50,000.00 yearly ( Bacon ) . As the addition for speech diagnosticians grows, the wage will probably travel with it. Diane Crow, a address diagnostician that works for the Lumpkin County School System, does non repent her determination on calling pick at all. After obtaining a Bachelor? s grade in psychological science, Ms. Crow went into the Speech-Language Pathology plan at the University of Southern Florida. She knew the manager of Speech-Language Pathology surveies. The manager was ever seeking to acquire Ms. Crow to fall in in his categories. When she eventually did, she decided to acquire her Master? s in address pathology. Ms. Crow studied most of the antecedently listed classs required to have a address pathology grade at nowadays. Ms. Crow believes that a address diagnostician must be able to organize good IEP? s ; which are? particular plans made to run into each person kid? s demands? ( Crow ) . A speech diagnostician must be originative, and be able to manage tonss of paperwork. Ms. Crow prefers working with younger people. They are frequently times more willing to work than a more elde rly person. The paper work and tough programming are the nerve-racking facets of her occupation. Although this does set emphasis on her, it is honoring to? see discharged kids rectifying all of their sounds? ( Crow ) . Her advice towards an draw a bead oning address diagnostician is really enlightening and helpful. She says that while one is gaining his or her clinical hours, to make the work in a assortment of puting with a assortment of people and ages. Speech pathology is a calling that has its ups and downs. Although it is nerve-racking, it is besides one that makes non merely the patient smiling, but the instructor, every bit good. The hours spent working with persons are frequently really honoring. The categories are tough and will go on to be so, likely more hard due to the turning involvement of speech pathology as a profession. One must hold willpower and a sincere involvement in speech pathology in order to base on balls and larn all that he or she needs to cognize. Jobs are besides traveling to be readily available for address diagnosticians. There will decidedly be gaps in this hereafter, which is good due to the recent addition in fight in the occupation market. Speech pathology is a field that will ever be interesting. As clip goes on, more and more will be known about address and its upsets. Possibly there will be much simpler interventions in the hereafter. Speech diagnosticians must be invariably larning, non merely f rom periodicals and texts, but besides for the people around them and their patients. The ultimate occupation of the address diagnostician is to assist people with address jobs. The diagnostician can make this through a figure of ways. He or she must measure and turn to a huge array of jobs. By making this the address diagnostician will hold a calling that is giving of his or herself to another individual. In a bantam manner address diagnosticians help humanity. 33f