The Birth Of Singapore Airlines Tourism Essay

The Birth Of Singapore Airlines Tourism Essay Strategic Management is a term that is not new, first used in the 1970s it was conceived that a team of strategic planners would come up with strategic ideas to sell to decision makers. It is all about identification and guideline used by the managers in order for the company to have a competitive edge over the competition. Joel Ross Michael Kami(Fred 2011, 35) mentioned that; Without Strategy, an organization is like a ship without a rudder, going round in circles. Its like a tramp; it has no place to go. According to Wheelen and Hunger(2006,3) A set of decisions and actions that are used to charter the performance of a corporation can be defined as Strategic management. The process of this would take into account the scanning of external and internal environmental factors, long term and strategic planning for strategy formulation as well as the implementation and evaluation and control process. Wheelen Hunger(2006,3) strongly focused on the analyzing and evaluating of external opportunities and threats compared to the companys strengths and weaknesses. A SWOT (Strength, Weakness, Opportunities and Threats) analysis is an ideal tool for strategic managers to plan for both predictable and unfeasible contingencies. In the point of Dess and Miller(1993), the combination of three major interrelated activities; strategic analysis, strategic formulation and strategy implementation can be called strategic management. These activities are a continuous process that helps evaluates and controls the company and the industry it is in, benchmarks the competition and set realistic targets and strategies to meet its existing and potential competition. Lamb(1984) states that strategic management is a continuous process that evaluates and controls the business and industries the company is in; it also assesses the competitors to set goals and strategies then reevaluates them every quarterly or annually to decide on the implementation of the strategy is successful. It then reevaluates the if there is any new factors such as technology, competition, economic market, social, financial and even political environment that can be used to create a new strategy. As a summary, Strategic Management and Planning is the understanding of the process of strategy formulation, implementation and evaluation. For company an organization to gain the edge over its competition regardless of size, scale; each organization needs to have a well planned strategic management in order to strive and compete in the market while optimizing its potential for tomorrows trends of today. Background of company The birth of Singapore Airlines was from Malaysian Air Limited where it first started in 1947, because of political reasons, the company was renamed to Malaysia-Singapore Airlines and finally the company split its shares to Malaysian Airlines System and Singapore Airlines in 1972 on which Singapore Airlines is owned by Singapore state owned investment house; Tamasek Holdings Singapore Airlines was forced to focus on the international market that was subjected to intense competition because there was no domestic route available to after the separation. The difficult start of was one of the factors that drove Singapore Airlines driving spirit to compete and dedication to branding. It started the branding strategy by engaging a French haute-couture designer in 1972 to come up with a special version of the Malay Sarong Kebaya for the airline stewardess uniform and adopting a branding Singapore Girls that provide top quality in-flight hospitality. This feature became one of the most recognized signatures for Singapore Airlines. The human resource management area was given a booster with an investment of 20million for its training facilities. With a good marketing strategy and sound backing, the return was shown at 1973 when SA was ranked 3rd for the Asian region. But in 1973 to 1977 period was forced to cut cost due to the surging oil prices. Singapore Airlines joined its operations with British Airways to provide its Concorde services but was terminated in 1980. Even though the collaboration was a failure, it took advantage of the marketing campaign to made itself known around the globe. At the same time, Changi Airport was constructed thus leading the industry to higher service standards. With all that in place Singapore Airlines became the top preferred Airlines for the Asia Pacific region in 1981. Singapore Airlines experienced a steady growth rate in the 1980s with expansion of its fleet and routes, it was privatized in 1985 and listed in the stock exchange with Tamasek Holdings owning a 63% of the company and was gradually reduced to 54% in 2008. SA underwent changes in the 1990s with changes made to cater for the lower cost market segmentation as well as the SA engineering focus on increasing productivity and pursuit of better opportunities for business. The globalization in 1990 also made the airline expand overseas as well as investing on other companies. With its strong financial backing, it spend to renovate its fleet, thus giving benefit to the airlines during crisis allowing the airlines to have more bargaining power over its supplier (Scott, 2008) To date, SA group has provided a wide variety of services for the aviation industry from passenger, cargo, terminal, enginnering, training and even tour services as a whole. The airlines operates over 36 countries with week ly flights to them. Organizational Structure The organization is divided by function and its disadvantages as the low responsibility of the bottom staff as well as the compartmentalization on its mangers. In order to tackle this, SIA have made their organization chart more flattened with fewer levels of hierarchy in the organization, thus allowing empowerment and creation of a flexible and yet dynamic business that allows its employees to make decisions to leads to job enrichment. SIA also encourages independence and encourages its senior staff to train and low its junior employees to make decisions. To overcome the job compartmentalization, non technical mangers are rotated on the job and thus allow them to have a better view of the organization for a better picture. The SIA management also stresses for the importance of maintaining a healthy and good work culture. Teamwork and collaboration is placed high on importance by the company. With the growth of the company and expansion of sales office to over 80 countries, the sales operations have been divided to geographical areas. To overcome the problem of control, the company focuses on the end result objective empowering its site managers to have flexibility and to make adjustments based on the situation. Full power is given to the overseas regional general manager to make decisions and to respond promptly in order to deal with local problems and to customize the operations to suit the local scene. In general, SIA is slowly decentralizing its organizational structure and it encourages autonomy allowing faster response to the business thus creating opportunities that are vital in the fast and dynamic airline industry. 4.0 Analysis of External Environment 4.1 Political The political environment of Singapore is stable with its dominant political party Peoples Action Party (PAP) controlling the government since the independence. Singapore government has allowed the freedom in corporate governance and has little set restrictions to the industry. Singapore Airlines make 90% of the decision on its own and has only influence the appointment of the director over the company (Sikorski, 1995). Singapore Airlines was allowed to stress on profit in comparison with public or social responsibility and was even backed by the government during its retrenchment practice during the economical crisis. (Sikorski, 1995) With a strong foreign policy that maintains good relationship with 175 countries, Singapore has a particular good relationship with huge economical countries such as France, United Kingdom, and Germany. It also has a mutual free trade agreement between Japan, Korea, Australia, New Zealand, India, United States of America and recently with China in 2008. With Singapore signing the Gulf Cooperation Council-Singapore Free Trade Agreement in December 2008, it embarks to build strong ties with the middle east countries as well. Singapore is a stable base for the operations for SIA comparing itself to other regions in the Asia Pacific that have seen unrest over the recent years. Terrorism alerts affected some countries in the Asia region with India(2008) and Pakistan(2009) hit with the lost of hundreds of life. The tourism industry for Thailand was affected in 2008 during the protest and heavy floods as well as the Tsunami event that happened in Langkawi, Malaysia as well as Thailand that affected the influx of tourist there. There was also the riots in China and the Korean Missile crisis that effect the Singapore Airlines to re-route its flight to other locations. 4.2 Economic Financial Crisis in 2007 affected many countries over the world that brought recessions to most of the affected countries. This slum lasted through 2008 that made the global financial institutions very cautions on its loans of money and many companies had to underwent a cost cutting measure to stay afloat. The IMF predicted the regeneration of the world wide economy by 2009 and it the up market trend has steadily grown from there. The Singapore Tourism Board (STB) also contributed to promote Singapore as a destination for MICE (Meetings, Incentives, Conventions and Exhibitions). In SGD 90 Million BOOST (Building on Opportunity to Strengthen Tourism) program was launched in February 2009 and was followed up in October with an announcement for a new Tourism Compass 2020 roadmap to grow tourism 2015, with the goal to set Singapore as the leading city for MICE (STB,12 Oct2009). The growth was further spurred by the building of two integrated resort projects, Marina Bay Sand and Resort World at Sentosa. Singapore has also continued to host the Formula One Night Race and with all this factors surely has a positive impact for the travel and tourism sector for the country. 4.3 Social Cultural Singapores population comprises of more then 75% Chinese, followed by Malay and Indian; the main religion of the country is Buddhism, Islam, Christian, Taoism and Hinduism. Having a rich Asian culture in the country, Singapore is one of the most westernized countries within Asia. With the growing China economy and its open door policy; Singapore has landed a great pool of foreign labor arriving from China. This in return has created a cultural conflict among many Singaporeans. With a highly diversified culture with close to 35% of its population is non citizen residing in the country, (25% of is foreigner and 10% are permanent resident); Singapore can be considered as an immigrant country. Although having high non-citizen to citizen ratio, the country never stops to promote foreign talent and believes that if the immigrant policy were to be stopped, Singapore would face a shortage of quality labor. Having a strong Chinese influence over its working culture that has made it a culture of high in power distance with the lower employees accepting the subordinates positions that seldom questions the managements decisions. The working culture also stresses on good team work and maintaining group harmonies. (Warnstam,2007). This has made Singapore to become a very cooperative employee to employer relationship and its labor union is in good terms with companies throughout. 4.4 Technology The growth in the usage if Internet around the globe has prompted the growth of customized web addresses to be used around the world. This has also given the potential for the usage of Chinese characters to form the web address (Choe,Oct 2009). With the emergence of such technological advancement, the electronic devices has also evolved to become more portable with increased performance and now almost every household in Singapore would have a portable laptop, hand phone and digital cameras loaded with personalized music, games , photo and video. The growth of such technology has prompt an expansion of innovation over the past decade. The development of high speed networks and compression has allowed faster transfer of data and transfer rate, resulting in the availability to have high quality real time video conferencing with people around the globe from the office or even without leaving the house. This has made it a very good substitute for companies to use instead of having to send its employees for business travelling. (Yu, 23 Jun 2009). 5.0 Evaluate Current Strategic choice and implications 5.1 Analysis of Current Strategic Position 5.1.1 Financial position Singapore Airlines has maintained its profit over the years, the group has maintained its profit even through the 2008 financial crisis. After the growth in 2009 the group assets are worth SGD 22.04 million and debt of SGD 1.077million with an equity debt ratio of 0.08. With a general reserve of SGD 11.264 million the company is poised to be able to sustain its operations in any case of crisis. (SIA, Annual report 2012) 5.1.2 Product position Carrier RPK (Million) SIA 90,128 Cathay Pacific 90,975 Qantas 99,176 Total of   AAPA member 550,014 Table 1 Comparison of RPK Airlines market size can be measure by Revenue Passenger-Kilometer (RPK). Having based in Asia Pacific region, SIA, Cathay Pacific and Qantas all falls into the same category of medium cost, developed airlines. These airlines have similar offering and price level. It can be seen that SIA, Cathay and Qantas have market share of similar size [AAPA, 2009]. The company is ranked number two in Skytrax Best airline award; the airline is in the top five ranking for 10 out of the 12 award Skytrax have. The airline has the Best 1st Class and best in-flight catering award in 2009. The only part the company dont have a ranking is on the airport lounge service [Skytrax, 2009]. 5.1.3 Marketing capability The initial distribution of SIA is mainly by the travel agents or through internet bookings, SIA has come a long way by providing a ticketless system for its passengers that even allows boarding as well even for connecting flights with its partner airlines (SIA,2009). SIA also engages social networking website in Facebook though quite limited in its presence. This is a drawback with the current trend of younger generation who associates more with social networking sites. Another factor that is a slight disadvantages for Singapore Airlines is that the domain www.sia.com and www.sia.com.sg is not owned by Singapore Airlines, but to counteract this, they company has engaged to actively publish itself as the preferred search referee if anyone searches for SIA online. SIA has also made good placement in the search engine for using the key world Singapore airlines and Air Ticket Singapore which prompts SIA at the top of the search list. 5.1.4 Organizational structure The organization is divided by function and the disadvantages of low responsibility for the employees at the bottom as well as the compartmentalization on the managers. To overcome this, SIA has flat organization chart with few hierarchical levels for its organizations, this enables autonomy and create a more flexible but yet dynamic business that empowers its people to make decisions and lead to better job satisfaction. The promotion of independence and encouraging its senior employees to train and give chances to the junior personnel to make decisions are a key factor for SIA. Non technical management personnel are rotated on jobs and this gives them to have a broader perspective for the job. This is further strengthening by the stress on the importance of having a good and healthy work culture for the company. Great importance is stressed on having good team spirit. To overcome sales operation issue, SIA has focused on end results while giving its site managers to exercise flexibility to make necessary changes based on the situations. The full power is given to its overseas regional general manager to ensure fast response time for local issues and a more localized business operation to site the climate. The company focuses on the growth strategy that focuses more on profitability rather than size, thus allowing slow and steady growth with chances for leaders to be groomed properly. In general, the organisational structure of SIA is decentralise encourages autonomy allowing quick response to business treat and opportunity which is crucial in the airline industry which are very fast and dynamics. 5.1.5 Human Resources SIA has a strong emphasis on human resources. The requirements for entry level to the company is only for diploma holders are accepted, these employee would then go through the recruitment process. After the appointment, these cabin crew is trained for 15 weeks, 2 times longer the industrial standards. The SIA employees have a 6 month probation that needs to be reported continuously by their supervisor with a confirmation rate of 75% while 20% will be on extension. These trainings are changed periodically to adjust to show the customers expectations. While on the job, the employees are also required to engage in various voluntary community services, arts and cultural activities. Refresher courses will be available for employees allowing 3 to 4 days per year, this is a form of motivation for the employees to engage in self learning and the employees will be accountable for their own growth and development. Results from these stringent training has been obvious by producing Stewardess that have high esteem, motivated and capable in handling the customers in the companys best interest (Heracleous and Wirtz. 2009). The focus on talent form within the company, the company focuses on development of the human capita given training spending of SGD100million for its employees. The company also offers scholarship programs for recruiting management trainees from the universities. 5.1.6 Condition of facilities and equipment Having one of the newest fleets in the world, with an average age of 6 years, Singapore Airlines is one of the most updated planes compared to the worldwide average of 15 years (Prystay, 28 Aug 2009). By adopting the newest planes and technology this impacts in the reduction of maintenance and petrol cost. Other than that, SIA also went through an upgrading of its plane cabins to provide customers with the most updated entertainment systems and a better seating arrangement. Training equipment for its pilots is also provided from the SGD 1 million flight simulator that is capable of simulating the high altitude scenario. SIA also updated its training center in 1999 to ensure the recruitment is capable to facilitate a better and efficient training environment. Overall the airlines does have a great training faclilities for its personnel as well as their commitment to bringing top quality service with a strong financial background but because of the financial crisis in 2008 and the lack of demand over supply, SIA is laden with excess aircraft that has not been utilized. 5.1.7 Past objective and strategies SIA corporate level uses a diversified strategy whereby it expands its business to airline catering, airport terminal services as well as into aircraft maintenance. These dual strategy in cost leadership and differentiation enables SIA to have excellent cost efficient service through high business efficiency. SIA has secured its high business competence through the execution of five organizational systems. The first is the structured service development and design that allocates dedicated departments for its enhancement of service and thorough testing to ensure that there will be a quality service that will be able to meet the latest customers expectations. Second is the focus on consumer trends over the years, with a specific department that monitors closely to ensure that innovation is tailor to focus on improving and enabling a cost effective and highly productive service innovation. The focus will also be on the companys weak point, adapting the best practices from other successful developments while reducing the cost and risk involved for the innovation. The third set is the focus on a profit conscious culture, with the education of its personnel on the priority of profit and customer satisfaction. SIA also focuses on a reward based system that gives proper recognition to employees based on their performance to encourage team work and productivity while reducing wastage. The fourth is the goal for the organization to achieve success through the diversification and infrastructure of its subsidiaries. These integration allows the focus and control that will enhance the knowledge while reduction of cost at the same time. The management of its subsidiaries is based on a clear expectation that enables the subsidiaries to be subjected to market discipline. The last focus for the company is the development of its personnel through training and development while encouraging the development of a direct self continuous learning system to boost their self esteem. The overall strategies that SIA has adopted has made the company to have a high competence core with the overall ability to achieve a differential offering through exceptional levels of efficiency (Heracleous et al 2009) 6.0 Strategic Potential Justifications Choices for strategy for SIA should be based on the logical elements for the process and have a central role. The company should focus their choices of strategy through based on the internal and external factors while taking into account its core competency to strive for profitability and service excellence of its personnel. Strategic Choices for Singapore Airlines Business Level Strategy Corporate Level Strategy Direction and Method of Development Strategy for competitive advantage Adhere to government regulation and satisfaction Internal training and development Profit measurable success for strategies Diversification in market Creation of value added services to gain competitive advantage 6.1 Business Level Strategy Price Based Strategy This strategy takes into consideration of the product to price to gain a competitive advantage. There are many low cost airlines company as of this moment that is conducting business in the Asia region. This causes the market to be very competitive and Singapore Airlines is one of such company that faces challenges. Low cost airline companies such as Air Asia is one of the competitors that are focusing on the usage of price based strategy to capture a market share in the current market. Justification: Acceptable and feasible pricing strategy: The focus for the price based strategy is important as the current completion from the low cost airlines also focuses on the same routes of travel while providing a lower air fare. One of such routes traveled is from Singapore to Bangkok, from this example, Air Asia is selling its seats for a round trip for a price of $150 while compared to SIA that cost $500. Because of this the company is losing money as customer trends are now slowly switching over the low cost seats. http://htmlimg1.scribdassets.com/4abs74bzsw9yk25/images/16-b0f782e011.jpg 4.2 Corporate Strategy Direction Policy Matrix Used to measure the health of the industry for the Asian regions and the capabilities of Singapore Airlines. Below is the representation of Singapore Airlines in comparative to Air Asia ad MAS in the Asian Region. http://htmlimg1.scribdassets.com/4abs74bzsw9yk25/images/17-978ec5a00e.jpg Source: Johnson G, Scholes K. 2005. P 320 Justification: Acceptability Feasibility of Directional Policy Matrix From the analysis it can be seen that the market positing of Singapore Airlines is aimed towards the middle business class strength that offers a highly attractive market. The bargaining power, threats for substitute and competitive rivalry is high for the Singapore Airlines. In the event of a cost increase for jet fuel to USD 115/barrel, the supplier has the upper hand the the treat of substitute is potentially high for the market. For this the feasibility and acceptance of a directional policy matrix for Singapore Airlines is High. 6.3 Directional and Method of Development TOWS Matrix Through the analysis of the internal and external environment, the generation of a TOWS based matrix. This will enable Singapore Airlines to focus on the strategic options available to cater for any potential changes or adapt strategies to further strengthen its market share while limiting its weakness. http://htmlimg2.scribdassets.com/4abs74bzsw9yk25/images/18-6f7d0e3282.jpg Suing the strength and opportunity for Singapore Airlines, there is potential for market diversification. To overcome the potential treats, SIA can have a merger or acquisition with certain airline companies. Avoidance of weakness for Singapore Airlines can adopt a cost leadership strategy. The airlines can develop their internal factors to avoid the treats and weaknesses. Justification Diversification: The current airline industry for the Asian region is highly competitive. There are many airline operations in the region and one of such competition comes from the low cost airline Air Asia. Air Asia flies twice daily from Malaysia to Guangzhou. Currently Air Asia has 86 routes that offers no frills service and has garnered wide recognition from the china market comparing to Singapore Airlines which has 88 destinations in 38 countries. Singapore Airlines would need to strengthen and diversify its market by planning out more feasible routes to high business locations and take a competitive advantage though expansion of the Asian market. Merger and Acquisition: Singapore Airlines needs to have a strong understanding on its competition and to avoid the treats they possess. With their strong financial background, the potential for merger and acquisition is a great choice for Singapore Airlines. Currently there are two national carriers that are seeking to limit Singapore Airlines to access their home market thus slowing down the growth for the airline. Because of this Singapore airlines joined the Star Alliance to take advantage of its international strategy. This is also boosted by the investment of SIA groups into China and India to ensure strategic alliances with the local organizations for their cargo divisions, airport services, enginnering and catering. Internal Development During the previous years, Singapore Airlines recorded a low asset turnover ration in comparison with its competitors. Because of this, the weaker asset turnover ratio has a potential to show that the companies ineffectiveness to utilize the assets to generate profit and will eventually lead to the decline in the groups growth. Singapore Airlines can adapt to this by using better use of information technology to enhance its services to the customers and gain back better response and efficiency. Singapore Airlines website is now one of the most advance and user friendly in the industry that offers the customers to check their schedules, buy tickets, check in and manage their accounts as well as even choosing the meal for their flights. Because of this value added service, the company is able to further maintain its market share and slowly cover up the losses by creating a portal for customers and potential clients to interact with Singapore Airlines. The efficient use of IT has proven to significantly reduce the cost and enhance service levels for Singapore Airlines. Conclusion Singapore Airlines is the national carrier for Singapore and is one of the industry leaders in Asia. Currently the operations route carries Singapore Airlines to South East Asia, East Asia, Europe, Middle East and the Australia. The analysis for the external factors indicates that Singapore Airlines does face some barriers due to the international economic and political sector. The prices of oil over the years have been very volatile and would play a major impact on the profitability of the airline industry. Other than that with some ups and downs in the economy and the growth of high speed networks through the usage of information technology has played an impact for the overall performance in the airline industry in general with people become less mobile while still being able to work with their counterparts across the globe. The internal factors with the successful branding of Singapore Airlines is one of the drawing factors that is able to sustain its competitive edge as well as with strong management background that ensure a quality of service for its customers gives the company its core competencies. For Singapore Airlines to keep evolving towards the new market trends, the company should take into account the internal and external surroundings.

Business Strategy of MNC in Emerging Markets

Business Strategy of MNC in Emerging Markets The research aims to observe the different adaptive strategies employed by the multinational corporations (MNC) while it enters the emerging economies, analysing market potential, business growth, and the foreign direct investment in the country, with its effects on the (GDP) gross domestic product and corporate social responsibility of the emerging market. Objectives The objective of this research is to gauge in the success or failure of the difference in approach applied by the multinational corporations (MNC) to the emerging market how effective is the strategy and what scope and the way to enter the new market through a merger acquisition or its own subsidiary to function in those testing environment. Introduction Multinational enterprises (MNEs) need to adjust to the multifaceted business environment of each host country (Dunning and Lundan, 2008a)  [2]  . This challenge Increases with the differences between the foreign and MNEs home environment. The More distant is a host country from the organizational centre of the MNE, physically And in terms of mutual understanding, the more the à ¯Ã‚ ¬?rm has to bridge differences in Culture, in laws and regulations, and in human resources (Ghemawat, 2007)  [3]  ; Shenkar, 2001)  [5]  . MNEs must adapt their business strategies and organizational forms to manage these differences (Kogut and Singh, 1988; Kostova and Roth, 2002)  [6]  . With the development of the international business in the developed economies of the world, they faced saturation of their domestic markets which led them to search for alternate markets for their product and services. There was an immediate surge to cut down the cost of labour which was rising, forcing them to implement cost cutting strategy, which in turn led to the growth of international business, In the beginning the company would engage in export and import however with the change in the time, technology, availability of cheap labour and transport it has made it easier for these companies to target international shores for business Literature review This is research aims at formulating the scope of the international strategy in the emerging markets by analysing the current situation of the economys and the theories applied to the context of emerging nation in the past taking into consideration the degree of their effectiveness into account and postulating new perspective and dimension to it. The analysis of the early phase of the market emergence, Institutional theory helps in comprehending the impact on the enterprise strategies this is due to the strong influence of the government in the emerging economys to that of developed economies . The role of institutional theory is reviewed in context to the other theories and their interactions in understanding the emerged and the developed market economies. The International business strategy adopted by the MNC for the emerging markets has played a significant part for their market entry against the barriers to the host country. THREE PERSPECTIVES ON STRATEGY IN EMERGING ECONOMIES When we analyse the market in the emerging economies with respect to its earlier phase of emergence, it is the institutional theory which is the most significant in helping to explain the impacts on enterprise strategies. This is due to the influence exercised by the government and societal are stronger in these emerging economies as compared to the developed economies. As market matures, transaction cost economics and, subsequently, the resource-based view is more important. However, there is a fervent need to consider the importance of the interactions between institutional theory and other theories to increase our understandings of the emerging and developed market economies by drawing the differentiating between them. An Institutional Theory Perspective The role played by institutions in emerging economies. Institutional theory emphasizes the influences of the systems surrounding organizations that shape social and organizational behaviour (Scott, 1995)  [13]  . From a sociological orientation, Palmer, Jen-nings, and Zhou (1993)  [21]  discussed industrial reform in China and attributed its success to market-leaning institutional change, gradual relaxation of state owner-ship and control, and development of private prop-erty rights. Research implications The number of theoretical and empirical studies using an institutional perspective in emerging economies is limited, even though some theorists have argued that this perspective is the most applicable paradigm for explaining enterprise behaviour in emerging economies (Shenkar von Glinow, 1994)  [23]  pointed out, the process of institutionalization should be of interest in future theoretical and empirical work. A Transaction Cost Economics Perspective Transaction cost economics studies the firm-environment-ronment interface through a contractual or ex-change-based approach (Williamson, 1975)  [30]  . Limitation The criticisms and recent development in the literature which is identified above are apt in comprehending the strategy of the enterprise in emerging economies, as the transaction cost economics has been applied primarily to the developed market economies which are characterized by their strong legal regimes and binding social norms, less is known about governance structures for transaction cost in emerging economies. Choi, Lee, Kim (1999)  [32]  . High transaction costs would refer to a preference for hierarchical governance structures over the private market. Opportunistic behaviour, normally reduced by contract law, trust, or reputation, is also much more likely under such circumstances. As per the scholars the most efficient governance structure in emerging economies is hybrid structures dominating both markets and hierarchies is the solution. For example, Peng and Heath (1996)  [33]  argued that it is difficult for emerging market firms to grow internally or through mergers and acquisitions owing to lack of property rights and unstable political structures. They suggested us-in networks as a hybrid strategy. By pooling and coordinating resources, firms can achieve economies of scale and scope, and organizational learning can occur. Resource-Based Perspective The resource based view regarding the emerging economies, the central questions addressed by the re-source-based view concern why firms differ and how they achieve and sustain competitive advantage? Penrose (1959)  [41]  , who found that the Hollywood film industry pro-vided a context that changed over time and created different strategic assets as changes were made. To this point, little research using a resource-based-view framework has examined strategy differences in the social context of emerging economies. Adapting theses theories in the research for the thesis with a new perspective and dimensions the research on the international strategy of MNC in emerging market is further investigated to find the answers to certain question during the course of the research. A) What are the effects of strategy on the Mnc in respect to the modern times? b) How difficult is the task of MNC easy to settle down in a new country? c) What are the real barriers to the entry of these MNc? d) Does the strategy adopted really help with respect to CSR? e) Do the theories by scholar on emerging market have any positive inference on the MNC f) The role of govt in the smooth transition and policies g) Are the MNC a success or Failure with their normal global strategy h) How do the cultural differences is an obstacle in the way of MNC Challenges /Difficulties The MNC entering for the first time, may benefit from a relatively low informal distance which is most likely to increase their co-operation between with the local firms with respect to their understanding the barriers to communication, however with the difference of geographical distance there is a burden for the MNC to bear the cost involved in communication and co-ordination as cultural differences are most likely to hinder the smooth functionality and the firm may find it difficult to incorporate the existing operations with the local firm or they may establish a co-owner relationship with the local firm rather than functioning on their own, however to ease their functioning it has to co-operate with the local firms to resolve differences pertaining to the cross culture issues. Institutional differences may be reduced over a period of time by experimental learning, moreover it may benefit from the local firms contacts in the market like the local supplier distributor and the loca l authorities, hence it reduces the investors direct contact with the unknown local environment which is an added advantage and it gets the existing information of the market through the local firm The Research Methodology In this research would aim to use both primary and secondary method to go in-depth to have an insight of the emerging market what are the strategy barriers for foreign investors like an MNCs how could it be made smoother the support from the government, Primary source This method is applied to retrieve information by the researcher for the first time for a specific purpose of their field of studies. It constitutes Questionnaire Direct observation, Interviews and surveys, in this particular research the application of questionnaire and survey does exist however with the diverse field like a MNC which is in an emerging market hence it is too broad not required. Secondary Sources This method states the information is already compiled by someone who did a research prior to the current one in a similar field for some other objective, the secondary data is classified into two internal and external data, the information in the form of data compiled within the company is Internal and the information which may be retrieved from external sources like libraries, journals, websites, business magazines, articles. The main components of secondary data are Book review The books which are relevant to the thesis along with the articles and journals would be reviewed for data and theories for the research. Internet research This would give an insight to the markets past history and provide comprehensive data source for the research along with the articles that are available to browse useful for the research. Documents The documents published by the MNC in the emerging market would be used a useful literature for the research to draw a comparison from past performance and the transition into the new country in regards to the financial statements and distinguish it with other MNC on success and failure The advantages of secondary source of research is its availability and accessibility with the low cost involved to retrieve the information and another aspect of secondary data could be observed closely for a longer duration it is not time bound, although it does have its own share of demerits as the information pertaining to the current research may not have been collected or the other dimension or area or research could be extremely different with aim and objective contrasting each other with the region directed a specific population that may not be the researchers sphere of interest. Data collection The strategy employed for assembling data need to a multi-dimensional with a modern approach as data pertaining to market of emerging economies keep on changing on a day to day hence the conventional sampling approach can be difficult to implement for example the various sources of data like telephone directory, government data could become rapidly outdated. The data which may be collected from a company may not necessarily be consistent in comparison to the data possessed by the government authority hence it thus become a significant factor to collaborate the different studies to analyse and find the right method for data collection with questionnaire, surveys being dependent on the postal service. Hence Collaborative projects with local researchers using face-to-face interviews may be a key means of gaining access to data sources (Lee Miller, 1999)  [43]  used quantitative questionnaires, qualitative interviews, and multiple informants to increase the validity and reliability of their measures of organizational competence, variable measurement do pose a number of problems that present a difficulty in strategy research in emerging economies. The data collection is further classified into primary and secondary data source. Primary data source The data collected for the first time by the researcher applicable for the research purpose through a direct interview or questionnaire constitutes the primary data; however in the research we do employ the use of a questionnaire technique for the purpose of primary data collection. Questionnaire It is one of the most reliable means of credibly collecting data which has a reasonably low cost associated hence making it more adoptive for the research, the questionnaire is designed with multiple objective question for the managers of the MNC, to gauge the strategy which were adapted from their general course of business to meet the emerging markets. Secondary data The data collected by the prior researchers for their research in the similar field, are the alternate source for the current researcher to fall back on as it provides an insight to the data required, due to the difficulty in collecting data by means of primary sources secondary sources prove to be very useful. There are three secondary sources employed in the research. Book review The data collected through the literary sources like articles, newspaper, business magazines, and journals, regarding the strategy of MNC on emerging market, with the availability of most of the literary sources at the university library, business journals , electronic journals accessed through the university portal like Business source premier, Jstor, Emerald, and Google scholar helps in collecting data for the research. Internet Research Information retrieved from browsing the website of the MNCs which would give an insight to the existing market as well as the earlier market data for the past 5 to 10 years providing a new dimension to distinguish and collate data, the information in these website gets updated on regular intervals hence access date is mentioned along with the reference. Documents The data compiled from the companys published documents over the years do provide a fresh perspective to the research The problems of Data collections The topic of the research is broad and hence it expands in volume due to the vast field of emerging market and international business strategy employed by different MNC, hence collating data on the emerging market is primarily available in a secondary form of data is voluminous turning out to be a little difficult to narrow down, as the research aims to narrow its parameter of data collection and concentrate on the specific set of goals to imbibe a good quality. The secondary source of data available might not be applicable to research in a larger context and might not provide the answers to the objectives of the research, the other difficulty that might arise would be the response of the questionnaire as it is an uncontrolled variable hence the low response might pose a question on the reliability of the collected data through it and the quality as well, these are a few challenges that pose a formidable threat in the success of the research. Data Analysis The collected data through the above means would be aligned in a logical, synchronized and sequential, organizational frame to analyse it and evaluate the data so that the applicable information could be take out from the data, the data analysis would undertake both quantitative and qualitative approaches. Quantitative method This approach centres on numbers which are employed as characteristics to quantify data the outcome is numerical form of a recoded data which is further used for statistical analysis, this proves to be a reliable tools providing the numerical data for the empirical study and statistical analysis, this is further classifies into descriptive and inferential. Descriptive statistics It constitutes a measure of central tendency which are required in the research like mean median and mode and the measure of variability like standard deviation which would provide a numerical analysis of the research Inferential statistics This statistical tool helps to test the hypothesis and the similar findings of the data sample and eliminates unwanted data by means of deduction With the statistical inference which are drawn out of the questionnaires survey and interviews of the research; the data could be presented in a graphical form, histograms and pie chart, during the course of the research Microsoft word excel and spread sheet could be used for the purpose of diagram representation and these tools will help to evaluate the research. Qualitative Approach Qualitative research is explores the meaning rather drawing an inference based on the numerical statistical analysis, hence its approaches include case study interviews focus groups. Literary criticism The way the data has to be drafted for the research aiming at the content applicable for the research purpose taking the theory and literature into account and critically evaluating them. Thematic coding à ¢Ã¢â€š ¬Ã¢â‚¬Å"The data collected is coded or labelled which is to classify data to gather relevant data making it more easily accessible and easy to understand as similar data is grouped in a thematic idea which makes comparison of different cases in respect to the research simpler for the researcher. Time scale and plan The research is planned in an organised framework, the planning and scientific collection of data using qualitative and quantitative method and evaluating it, filtering the required content and theories analysing the applicable data to the research, hence the time span is estimated to be 11 weeks , that is broadly classified as 1 weeks for data collection primary as well as 1 week for secondary data and then 1 week to evaluate the relevance then move on to the important part of literature review in the next 2 weeks , methodology of research would be aimed to completed in another 2 weeks data analysis 2 weeks and conclusion and 1 week to review and get peer review to get the better understanding the next week amend changes if required and finally submit within the week hence the research is completed in time and submitted in a effective and efficient manner. Conclusion The research topic gives food for thought, as the market is evolving hence it would highlight the changes undertaken by the MNCs over the period of time in their strategy as in the earlier years Corporate Social Responsibility was not a significant part of the policies and strategy however with the change in time it has been realised the crucial role it plays for every multinational entity and provide comprehensive insight in the functionality and approach, this research will be conducted evaluating the secondary data due to its high authenticity and availability drawing inferences from the different theory applied by the prior researchers and finding new dimensions that is applicable to the times of today as we are pulling out of recession, hence low income countries are the lucrative market and cheap labour source presents an opportunity for the MNC to reap profit and the share knowledge and the country too benefits with the inward Foreign Direct Investment bringing more employment and capital hence the topic of the thesis is dealt with a contemporary approach to provide a fresh perspective. Business Strategy of MNC in Emerging Markets Business Strategy of MNC in Emerging Markets The research aims to observe the different adaptive strategies employed by the multinational corporations (MNC) while it enters the emerging economies, analysing market potential, business growth, and the foreign direct investment in the country, with its effects on the (GDP) gross domestic product and corporate social responsibility of the emerging market. Objectives The objective of this research is to gauge in the success or failure of the difference in approach applied by the multinational corporations (MNC) to the emerging market how effective is the strategy and what scope and the way to enter the new market through a merger acquisition or its own subsidiary to function in those testing environment. Introduction Multinational enterprises (MNEs) need to adjust to the multifaceted business environment of each host country (Dunning and Lundan, 2008a)  [2]  . This challenge Increases with the differences between the foreign and MNEs home environment. The More distant is a host country from the organizational centre of the MNE, physically And in terms of mutual understanding, the more the à ¯Ã‚ ¬?rm has to bridge differences in Culture, in laws and regulations, and in human resources (Ghemawat, 2007)  [3]  ; Shenkar, 2001)  [5]  . MNEs must adapt their business strategies and organizational forms to manage these differences (Kogut and Singh, 1988; Kostova and Roth, 2002)  [6]  . With the development of the international business in the developed economies of the world, they faced saturation of their domestic markets which led them to search for alternate markets for their product and services. There was an immediate surge to cut down the cost of labour which was rising, forcing them to implement cost cutting strategy, which in turn led to the growth of international business, In the beginning the company would engage in export and import however with the change in the time, technology, availability of cheap labour and transport it has made it easier for these companies to target international shores for business Literature review This is research aims at formulating the scope of the international strategy in the emerging markets by analysing the current situation of the economys and the theories applied to the context of emerging nation in the past taking into consideration the degree of their effectiveness into account and postulating new perspective and dimension to it. The analysis of the early phase of the market emergence, Institutional theory helps in comprehending the impact on the enterprise strategies this is due to the strong influence of the government in the emerging economys to that of developed economies . The role of institutional theory is reviewed in context to the other theories and their interactions in understanding the emerged and the developed market economies. The International business strategy adopted by the MNC for the emerging markets has played a significant part for their market entry against the barriers to the host country. THREE PERSPECTIVES ON STRATEGY IN EMERGING ECONOMIES When we analyse the market in the emerging economies with respect to its earlier phase of emergence, it is the institutional theory which is the most significant in helping to explain the impacts on enterprise strategies. This is due to the influence exercised by the government and societal are stronger in these emerging economies as compared to the developed economies. As market matures, transaction cost economics and, subsequently, the resource-based view is more important. However, there is a fervent need to consider the importance of the interactions between institutional theory and other theories to increase our understandings of the emerging and developed market economies by drawing the differentiating between them. An Institutional Theory Perspective The role played by institutions in emerging economies. Institutional theory emphasizes the influences of the systems surrounding organizations that shape social and organizational behaviour (Scott, 1995)  [13]  . From a sociological orientation, Palmer, Jen-nings, and Zhou (1993)  [21]  discussed industrial reform in China and attributed its success to market-leaning institutional change, gradual relaxation of state owner-ship and control, and development of private prop-erty rights. Research implications The number of theoretical and empirical studies using an institutional perspective in emerging economies is limited, even though some theorists have argued that this perspective is the most applicable paradigm for explaining enterprise behaviour in emerging economies (Shenkar von Glinow, 1994)  [23]  pointed out, the process of institutionalization should be of interest in future theoretical and empirical work. A Transaction Cost Economics Perspective Transaction cost economics studies the firm-environment-ronment interface through a contractual or ex-change-based approach (Williamson, 1975)  [30]  . Limitation The criticisms and recent development in the literature which is identified above are apt in comprehending the strategy of the enterprise in emerging economies, as the transaction cost economics has been applied primarily to the developed market economies which are characterized by their strong legal regimes and binding social norms, less is known about governance structures for transaction cost in emerging economies. Choi, Lee, Kim (1999)  [32]  . High transaction costs would refer to a preference for hierarchical governance structures over the private market. Opportunistic behaviour, normally reduced by contract law, trust, or reputation, is also much more likely under such circumstances. As per the scholars the most efficient governance structure in emerging economies is hybrid structures dominating both markets and hierarchies is the solution. For example, Peng and Heath (1996)  [33]  argued that it is difficult for emerging market firms to grow internally or through mergers and acquisitions owing to lack of property rights and unstable political structures. They suggested us-in networks as a hybrid strategy. By pooling and coordinating resources, firms can achieve economies of scale and scope, and organizational learning can occur. Resource-Based Perspective The resource based view regarding the emerging economies, the central questions addressed by the re-source-based view concern why firms differ and how they achieve and sustain competitive advantage? Penrose (1959)  [41]  , who found that the Hollywood film industry pro-vided a context that changed over time and created different strategic assets as changes were made. To this point, little research using a resource-based-view framework has examined strategy differences in the social context of emerging economies. Adapting theses theories in the research for the thesis with a new perspective and dimensions the research on the international strategy of MNC in emerging market is further investigated to find the answers to certain question during the course of the research. A) What are the effects of strategy on the Mnc in respect to the modern times? b) How difficult is the task of MNC easy to settle down in a new country? c) What are the real barriers to the entry of these MNc? d) Does the strategy adopted really help with respect to CSR? e) Do the theories by scholar on emerging market have any positive inference on the MNC f) The role of govt in the smooth transition and policies g) Are the MNC a success or Failure with their normal global strategy h) How do the cultural differences is an obstacle in the way of MNC Challenges /Difficulties The MNC entering for the first time, may benefit from a relatively low informal distance which is most likely to increase their co-operation between with the local firms with respect to their understanding the barriers to communication, however with the difference of geographical distance there is a burden for the MNC to bear the cost involved in communication and co-ordination as cultural differences are most likely to hinder the smooth functionality and the firm may find it difficult to incorporate the existing operations with the local firm or they may establish a co-owner relationship with the local firm rather than functioning on their own, however to ease their functioning it has to co-operate with the local firms to resolve differences pertaining to the cross culture issues. Institutional differences may be reduced over a period of time by experimental learning, moreover it may benefit from the local firms contacts in the market like the local supplier distributor and the loca l authorities, hence it reduces the investors direct contact with the unknown local environment which is an added advantage and it gets the existing information of the market through the local firm The Research Methodology In this research would aim to use both primary and secondary method to go in-depth to have an insight of the emerging market what are the strategy barriers for foreign investors like an MNCs how could it be made smoother the support from the government, Primary source This method is applied to retrieve information by the researcher for the first time for a specific purpose of their field of studies. It constitutes Questionnaire Direct observation, Interviews and surveys, in this particular research the application of questionnaire and survey does exist however with the diverse field like a MNC which is in an emerging market hence it is too broad not required. Secondary Sources This method states the information is already compiled by someone who did a research prior to the current one in a similar field for some other objective, the secondary data is classified into two internal and external data, the information in the form of data compiled within the company is Internal and the information which may be retrieved from external sources like libraries, journals, websites, business magazines, articles. The main components of secondary data are Book review The books which are relevant to the thesis along with the articles and journals would be reviewed for data and theories for the research. Internet research This would give an insight to the markets past history and provide comprehensive data source for the research along with the articles that are available to browse useful for the research. Documents The documents published by the MNC in the emerging market would be used a useful literature for the research to draw a comparison from past performance and the transition into the new country in regards to the financial statements and distinguish it with other MNC on success and failure The advantages of secondary source of research is its availability and accessibility with the low cost involved to retrieve the information and another aspect of secondary data could be observed closely for a longer duration it is not time bound, although it does have its own share of demerits as the information pertaining to the current research may not have been collected or the other dimension or area or research could be extremely different with aim and objective contrasting each other with the region directed a specific population that may not be the researchers sphere of interest. Data collection The strategy employed for assembling data need to a multi-dimensional with a modern approach as data pertaining to market of emerging economies keep on changing on a day to day hence the conventional sampling approach can be difficult to implement for example the various sources of data like telephone directory, government data could become rapidly outdated. The data which may be collected from a company may not necessarily be consistent in comparison to the data possessed by the government authority hence it thus become a significant factor to collaborate the different studies to analyse and find the right method for data collection with questionnaire, surveys being dependent on the postal service. Hence Collaborative projects with local researchers using face-to-face interviews may be a key means of gaining access to data sources (Lee Miller, 1999)  [43]  used quantitative questionnaires, qualitative interviews, and multiple informants to increase the validity and reliability of their measures of organizational competence, variable measurement do pose a number of problems that present a difficulty in strategy research in emerging economies. The data collection is further classified into primary and secondary data source. Primary data source The data collected for the first time by the researcher applicable for the research purpose through a direct interview or questionnaire constitutes the primary data; however in the research we do employ the use of a questionnaire technique for the purpose of primary data collection. Questionnaire It is one of the most reliable means of credibly collecting data which has a reasonably low cost associated hence making it more adoptive for the research, the questionnaire is designed with multiple objective question for the managers of the MNC, to gauge the strategy which were adapted from their general course of business to meet the emerging markets. Secondary data The data collected by the prior researchers for their research in the similar field, are the alternate source for the current researcher to fall back on as it provides an insight to the data required, due to the difficulty in collecting data by means of primary sources secondary sources prove to be very useful. There are three secondary sources employed in the research. Book review The data collected through the literary sources like articles, newspaper, business magazines, and journals, regarding the strategy of MNC on emerging market, with the availability of most of the literary sources at the university library, business journals , electronic journals accessed through the university portal like Business source premier, Jstor, Emerald, and Google scholar helps in collecting data for the research. Internet Research Information retrieved from browsing the website of the MNCs which would give an insight to the existing market as well as the earlier market data for the past 5 to 10 years providing a new dimension to distinguish and collate data, the information in these website gets updated on regular intervals hence access date is mentioned along with the reference. Documents The data compiled from the companys published documents over the years do provide a fresh perspective to the research The problems of Data collections The topic of the research is broad and hence it expands in volume due to the vast field of emerging market and international business strategy employed by different MNC, hence collating data on the emerging market is primarily available in a secondary form of data is voluminous turning out to be a little difficult to narrow down, as the research aims to narrow its parameter of data collection and concentrate on the specific set of goals to imbibe a good quality. The secondary source of data available might not be applicable to research in a larger context and might not provide the answers to the objectives of the research, the other difficulty that might arise would be the response of the questionnaire as it is an uncontrolled variable hence the low response might pose a question on the reliability of the collected data through it and the quality as well, these are a few challenges that pose a formidable threat in the success of the research. Data Analysis The collected data through the above means would be aligned in a logical, synchronized and sequential, organizational frame to analyse it and evaluate the data so that the applicable information could be take out from the data, the data analysis would undertake both quantitative and qualitative approaches. Quantitative method This approach centres on numbers which are employed as characteristics to quantify data the outcome is numerical form of a recoded data which is further used for statistical analysis, this proves to be a reliable tools providing the numerical data for the empirical study and statistical analysis, this is further classifies into descriptive and inferential. Descriptive statistics It constitutes a measure of central tendency which are required in the research like mean median and mode and the measure of variability like standard deviation which would provide a numerical analysis of the research Inferential statistics This statistical tool helps to test the hypothesis and the similar findings of the data sample and eliminates unwanted data by means of deduction With the statistical inference which are drawn out of the questionnaires survey and interviews of the research; the data could be presented in a graphical form, histograms and pie chart, during the course of the research Microsoft word excel and spread sheet could be used for the purpose of diagram representation and these tools will help to evaluate the research. Qualitative Approach Qualitative research is explores the meaning rather drawing an inference based on the numerical statistical analysis, hence its approaches include case study interviews focus groups. Literary criticism The way the data has to be drafted for the research aiming at the content applicable for the research purpose taking the theory and literature into account and critically evaluating them. Thematic coding à ¢Ã¢â€š ¬Ã¢â‚¬Å"The data collected is coded or labelled which is to classify data to gather relevant data making it more easily accessible and easy to understand as similar data is grouped in a thematic idea which makes comparison of different cases in respect to the research simpler for the researcher. Time scale and plan The research is planned in an organised framework, the planning and scientific collection of data using qualitative and quantitative method and evaluating it, filtering the required content and theories analysing the applicable data to the research, hence the time span is estimated to be 11 weeks , that is broadly classified as 1 weeks for data collection primary as well as 1 week for secondary data and then 1 week to evaluate the relevance then move on to the important part of literature review in the next 2 weeks , methodology of research would be aimed to completed in another 2 weeks data analysis 2 weeks and conclusion and 1 week to review and get peer review to get the better understanding the next week amend changes if required and finally submit within the week hence the research is completed in time and submitted in a effective and efficient manner. Conclusion The research topic gives food for thought, as the market is evolving hence it would highlight the changes undertaken by the MNCs over the period of time in their strategy as in the earlier years Corporate Social Responsibility was not a significant part of the policies and strategy however with the change in time it has been realised the crucial role it plays for every multinational entity and provide comprehensive insight in the functionality and approach, this research will be conducted evaluating the secondary data due to its high authenticity and availability drawing inferences from the different theory applied by the prior researchers and finding new dimensions that is applicable to the times of today as we are pulling out of recession, hence low income countries are the lucrative market and cheap labour source presents an opportunity for the MNC to reap profit and the share knowledge and the country too benefits with the inward Foreign Direct Investment bringing more employment and capital hence the topic of the thesis is dealt with a contemporary approach to provide a fresh perspective.

Media Mergers :: essays research papers

Merging Media Corporations are in recent days becoming ever more controversial for the fact they control a massive amount of information reaching the public. With the recent merging of ABC and Disney, concern has grown about whether the information from all the news programs and magazines might not be telling the whole story all of the time. Picture this: An ocean full of small fish, all competing at the same level. All of a sudden a larger fish swallows up a few of the smaller fish for lunch. And to the surprise and dismay of the first large fish, an even larger second fish swallows it whole. This process repeats itself again and again, in the shape of an upward spiral. Media corporations are now exactly like that ocean of fish. But instead of an ocean full of many competing fish, there are now only five powerful ones. With these five â€Å"big fish† of media corporations, the communication of truth may be thrown off balance.   Ã‚  Ã‚  Ã‚  Ã‚  Time Warner merges with Turner. Viacom merges with CBS. Disney merges with ABC. Merger mergers with Merger. Tongue-Twister? - Or a large fear from the public? Mergers have become rampant throughout the United States and all around the globe. Large media corporations are being gobbled up by even larger media corporations in a matter of months. With all this in light, conspiracy questions are rising to the surface, as to how much power and information these â€Å"mega-merged† companies hold. One more merger could mean massive control by only a few men over what is sent into American’s households. Now that networks are allowed to own their own programs, information flow could be corrupted beyond recognition. Should the people of the free world be wary of what these mergers have in store? I would have to answer that with a definite yes, (unless of course I was hired by one of the big five).   Ã‚  Ã‚  Ã‚  Ã‚  Scenario: A crude oil tanker crashes into a port off the coast of Africa. The oil spills into the water, killing millions of animals, land and sea alike. These sea animals are vital to the ecology of the world, but nothing can be done to save them now. If it just so happens that ABC reporters are the first and only ones to find out about this catastrophe, nobody will ever know it happened in the first place. If ABC willed it so, they could cover up the evidence as best they could.

MBA 820, Finance, Summer 2005, Final Exam :: OSU Ohio Business Finance

MBA 820, Finance, Summer 2005, Final Exam OSU Ohio State University Answer Key Included Part I: Multiple-Choice: [1 point each] 1. If the Markets Desk at the New York Federal Reserve Bank purchases T-bills, this will: 1. Increase the Federal Funds Rate 2. Decrease the Federal Funds Rate 3. Raise the value of the dollar on the foreign exchange market 4. Lower the value of the dollar on the foreign exchange market 5. Both a and c 6. Both a and d 7. Both b and c 8. Both b and d 2. Demand influences production according to (choose the answer/answers that does/do NOT apply): 1. Classical Economics 2. Keynesian Economics 3. Monetarists 4. New Classical Economics 5. New Keynesian Economics 3. For a country to peg its exchange rate, the country’s central bank must (choose the answer/answers that does/do NOT apply): 1. Keep monetary autonomy 2. Change the money supply 3. Buy short term bonds 4. Buy foreign exchange 5. Accumulate reserves 4. GDP in 1981 was $2.96 trillion. It grew to $3.07 trillion in 1982, yet the quantity of output actually decreased. This is because: 1. Prices increased 2. GDP is not the same as Real GDP 3. Statistical discrepancies caused in error in the 1981 reading 4.

Lorraine Hansberrys A Raisin In The Sun - The Importance of the Strug

The Importance of the Struggle in A Raisin in the Sun      Ã‚   â€Å"Why do some people persist despite insurmountable obstacles, while others give up quickly or never bother to try† (Gunton 118)? A Raisin in the Sun, a play by Lorraine Hansberry, is a commentary on life and our struggle to comprehend and control it. The last scene in the play between Asagai and Beneatha contrasts two contemporary views on why we keep on trying to change the future, and reaches the conclusion that, far from being a means to an end, the real meaning of life is the struggle. Whether we succeed or not, our lives are purposeful only if we have tried to make the world a better place for ourselves and others- only, in other words, if we follow our dreams.    Many self-described realists dismiss this attitude as naive and unrealistic, that finding value in the pursuit of dreams is merely a self-induced delusion. Often, this perspective is obtained after much bitter suffering for little or no apparent reason, as in the case of Beneatha Younger. Already a natural cynic due to the condition of the world into which she was born, a world where poor blacks with aspirations of something better were generally doomed, she became embittered with life when her dream of becoming a doctor was seemingly shattered. From an outside perspective, it seems obvious that she reacted poorly: the money her brother lost, after all, was not hers at all but her mother's, and how she expected to finance college without the death of her father and the insurance check that followed is unclear. What is clear, however, is that the death of her long-held aspiration had a profound effect on her. â€Å"A dream glanced from afar brings disappointment when it collapses; a dream that dies w... ...th the mundane, everyday anxieties of life, giving little thought to what our existence means or how we can change it. There is another reason, however, that we should strive to mold our own future, no matter how futile a task it may seem. Lost causes can be winnable, if enough people care about them to make them succeed: there is always the hundredth dream.    Works Cited: Bloom, Harold. Twientieth-Century American Literature. New York: Chelsea House Publishers, 1986. Draper, James P. Black Literature Criticisms. Detroit: Gale Research Incorporated, 1992. Gunton, Sharon R. Contemporary Literary Criticisms. Detroit: Gale Research Company, 1981. Hansberry, Lorraine. A Raisin in the Sun. Literature and the Writing Process. Upper Saddle River, New Jersey: Prentice Hall, 1996. Hansberry, Lorraine.   A Raisin in the Sun.   New York:   Signet, 1988.

Key Concepts and Network Architecture for 5G Mobile

G technology is offering the services in Product Engineering, Documentation, supporting electronic transactions (e-Payments, transactions) etc. As the customer becomes more and more aware of the mobile phone technology, he or she will look for a decent package all together, including all the advanced features a cellular phone can have. Hence the search for new technology is always the main motive of the leading cell phone giants to out innovate their competitors. The ultimate goal of 56 is to design a real wireless world that is free from obstacles of the earlier generations.This requires an integration of networks. This paper represents, introduction to 56 technologies, Key concepts of 56, Features of 56 networks technology, applications, hardware and software for 56 technologies and network architecture for 56 wireless technologies and last section conclude the paper. Keywords?G, www, JIB, DAWN, ‘P, Wi-If INTRODUCTION 56 Technology stands for 5th Generation Mobile technology. 56 technology has changed the meaner to use cell phones within very high bandwidth. 56 is a packet switched wireless system with wide area coverage and high throughput. 6 wireless uses FOOD and millimeter wireless that enables data rate of 20 Mbps and frequency and of 2-8 GHz. 56 is going to be a packed based network . The 56 communication system is envisioned as the real wireless network, capable of supporting wireless World Wide Web (www) applications in 2010 to 201 5 time frame. There are two views of 56 systems: evolutionary and revolutionary. In the evolutionary view the 56 (or beyond 46) systems will be capable of supporting www allowing a highly flexible network such as a Dynamic Dados Wireless Network (DAWN).In this view advanced technologies including intelligent antenna and flexible modulation are keys to optimize the dados wireless networks. In revolutionary view 56 systems should be an intelligent technology capable of interconnecting the entire world without limits. An example application could be a robot with built-in wireless communication with artificial intelligence. User never experienced ever before such a high value technology. The 56 technologies include all type of advanced features which makes 56 technology most powerful and in huge demand in near future.Amazing isn't it such a huge collection of technology being integrated into a small device. The 56 technology provides the mobile phone users more features and efficiency than the 1000 lunar doodle. A user of mobile phone can easily hook their 56 technology gadget with laptops or tablets to acquire broadband internet connectivity. Up till now following features of the 56 technology have come to surface- High resolution is offered by 56 for extreme mobile users, it also offers bidirectional huge bandwidth. – 56 technology excellent quality service is based on Policy in order to evade errors. It provides transporter class type gateway that has unequalled steadiness. – The 56 technology billing interface is highly advanced making it efficient and appealing. – It offers huge quantity of broadcasting data, which is in Gaga Bytes, sustaining more than 60,000 connections. – This technology also provides remote diagnostic feature. – Provides up to 25 megabytes per second connectivity. Also it supports the private virtual networks. KEY CONCEPTS OF 56 The key concepts discussing 56 and beyond G wireless communications are: 1) Real wireless world with no more limitation with access and zone issues. ) Wearable devices with AY capabilities. 3) Internet protocol version 6(Pop), where a visiting care- of mobile IP address is assigned according to location and connected network. SECRET @ 2012 4) One unified global standard. 5) Pervasive networks providing ubiquitous computing: The user can simultaneously be connected to several wireless access technologies and seamlessly move between them These access technologies can be a 2. 56, 36, G or 56 mob ile networks, Wi-If, WPAD or any other future access technology.In 56, the concept may be further developed into multiple concurrent data transfer paths. 6) Cognitive radio technology, also known as smarted: allowing different radio technologies to share the same spectrum efficiently by adaptively ending unused spectrum and adapting the transmission scheme to the requirements of the technologies currently sharing the spectrum. This dynamic radio resource management is achieved in a distributed fashion, and relies on software defined radio. 7) High altitude stratospheric platform station (HAPS) systems.

Music and no music condition Essay

The use of music seems to be a good way of operationalising the IV as many people do learn to the sound of music so therefore the difference between the music and no music condition should be marked. Also, getting the participants to write down the words is a good way of measuring the DV as it means it is easy to collect and analyse the data.  The study itself was quite simple and it seemed to measure what effects music has on learning. The independent variable was manipulated in such a way that it was hard for there to be anyway the results could have been affected significantly. Also because the measurement method was very simple there isn’t a chance that the results could be interpreted in the wrong way. As the study was a laboratory experiment it doesn’t have as high validity as a field experiment. Although the participants were not in a strange environment, the fact that they knew they were being studied may lower the ecological validity of the study.  Leading on from the fact that the study might have bad ecological validity, there is also the problem of the study having bad participant reactivity. Seeing as they know they are being studied and they know they have to learn the list of words given to them, they may try much harder than they normally would in their everyday life. There is the factor of social desirability and how some participants may deliberately try to recall fewer words. Improving Validity  Although it would be very difficult and expensive it could be possible to take the study outside the laboratory to increase the ecological validity of the study. You could monitor the participants while they are learning for something at home and while they are playing their own music in their rooms. They could then be tested unknowingly at school by one of their reachers.  However, even if these changes were made, the results would probably still stay the same. It has been proved before by numerous studies done by different scientists that music does help when trying to learn. This is why students are encouraged to listen to wordless music when revising for exams. These changes would also help improve participant reactivity if they are studied in a familiar environment. It would give them a sense of security and the need to look ‘cool’ is not needed anymore and there is no extra pressure put on them to learn because they don’t have the feeling they are being examined.  So, these changes could actually change the results slightly if only with a few participants. It might be found that there is higher recall in both conditions though but the difference may still stay the same. Reliability  The study is very easy to replicate as there is many references to other studies similar to it. Also because the study is quite simple in itself and very cheap to do there are very rarely any problems in recreating it for different purposes.  One possible confounding variable was introduced by the fact that there were four researchers in the room at the time of the study and they all knew the hypotheses. They may have tried give the participants help in recalling the words by giving hints and clues so that the results were more conclusive. This may have led to unreliable comparisons between conditions. As the study was a laboratory experiment it meant the researchers had good control over the study. The words that were chosen were all unambiguous so the participants would not have interpreted them in different ways. Also the test had been severely standardised. The words were shown on an over head projector so they were all looking at the same thing when learning was taking place. Also the testing was completed in the same room and at the same time of day for each condition so the participants were not feeling more tired in one condition than the other. Improving reliability  The only possible way to improve reliability was to keep researcher contact to a minimum or have a person in the room that was unaware of the hypothesis so they couldn’t alter the study in any way. This would be difficult though because once they are in the room it does become quite obvious what the study is about.  This could be controlled for by using an outside civilian to be the one person giving the participants instructions on what they have to do. There could be one person chosen for each condition so that they don’t guess what the study is about.  Even if these changes did increase the reliability of the study the only difference they might make to the results is to decrease the differences found between the two conditions.