Thursday, November 28, 2019
The Polis Essay Example For Students
The Polis Essay During the Archaic Period of Ancient Greece, many communities segregated themselves into small, subdivided city-states. Such cities were small, but managed to establish the very roots of democracy today. The term polis can be defined as an independent state governed by its population. Such a definition is accurate, however also could be considered broad and constricted. In deeper aspects, the polis was an organized state or community that worked together in upholding equivalent rights with an effort to prevent tyranny, or a state governed by one person. The polis went through extensive political efforts to maintain its unity and natural rights. Such qualities of a state led to other enhancements of the polis such as the social, religious, and economic aspects of joined community. We will write a custom essay on The Polis specifically for you for only $16.38 $13.9/page Order now The polis developed shortly after Cultural Revolution of ancient Greece during the early Archaic Period. During this time period almost every aspect of life went experienced a major change. Socially and politically Greece began to develop greater stability. Unlike other areas, which developed mostly into personal leadership, Greece followed an antagonistic political principle of unity and basic equality. The polis emerged from such political ideology to form a state of equal natural rights and the absence of tyranny. Some of the major reasons why Greece did not develop single rulers were because of financially weak kings, weapons which made war chiefs obsolete in strategic commanding, geographical isolation, and a simplicity of Greek life which withheld principles of equality. Such conditions helped curve the development of the polis. Politically, the polis was known to be well established. The political structure of the polis was based upon its value of equal representation and natural rights. Therefore the major office was filled with different officials managing different aspects of the community. One official might conduct religious ceremonies, another official would control civil aspects, and son on. Such members of the cabinet were only temporary, and were replaced on a regular basis to avoid anyone gaining too much political strength. Individually, citizens of the polis had equal rights and commitments to their communities. Every citizen had an equal representation and say in their beliefs and ideas which would strengthen their community. Likewise, everyone also had equal votes and voices to elect officials in performing higher tasks. Eventually such officials grew into a council whichGained higher roles and duties parallel with the growing population. In time political and military organizations began figh ting with other independent states over possession of farmland and other important geographical aspects. As the population of such states grew, complications did as well. However the polis continually managed to maintain its ideology of communal unity. (Starr, p.206)Socially the polis contained moral and ideal qualities that are still contained in modern democracy. Aside from equal representation, citizens of the polis had great appreciation for their state in government, and worked collectively to preserve such a state. Their society was composed of equal citizens who constantly worked to supply their needs for both survival and growth. Although the polis did consist of several classes, none were distinguished too sharply and everyone was focused more on their community rather than themselves. The social classes of a typical polis consists of an upper class where one must be a citizen without a job but a method of high income. A member of the upper class would also be free from eco nomic tasks such as trading or farming, but instead must get slaves or others to attend material concerns such as property and fortune. Only by such liberation of work can an upperclassman find time for government, war, literature, and philosophy. The Greeks also believed there must be a leisure class, or there would be no standard for good taste, no encouragement of the arts, and no civilization. Such a class fell into the category of the middle class. The middle class also had a large number of non-citizens from foreign birth. Although they were ineligible for citizenship, they would spend their lives professionally as merchants, contractors, tradesman, craftsman, and artists. In fact a large portion of the ceramic industries of some cities were owned by the middle class. Such occupations and economic liberty far outweighed the downside of non-citizenship. Although they were unable to own land or marry into a family of citizens, the non-citizens still maintained a substantial weal th and a comfortable life. The lower class of the polis was partly made up of freedmen, who at one time in their lives had been slaves. Most of the time these people were not citizens of the State, so the best they could ever be is middle class. The remainder of the lower class consisted of farmers and peasants who worked enough only to continue their daily lifestyles. Such people rarely were citizens of the state, and were only a minor step above slavery. Therefore Greeks in general felt that all men were not created equal. To citizen, there was no greater disgrace than being stripped of his citizenship. Some families had lived in Greece for generations, but they still were not considered citizens. The middle and lower classes outnumbered the upper class by an enormous number, but only the upper class citizens who owned land could vote. This meant that all the decisions were made by the few, even though the rules they made up applied to all. (Lumas, p.108) The citizens and all clas ses of the polis valued religion and culture very much. Typically, a Greek state would contain an official that would act as the religious leader for the remaining population. Such an official would conduct ceremonies to worship their gods and perform the religious tasks that were expected by their gods. However, although a common religion was practiced by a huge majority of the population, it was not required by many of the lower classes. As mentioned earlier, the Greeks highly valued their personal and individual freedom. Such freedom was a major aspect of their culture and was expressed through different arts and ideas. Although the Greek citizens highly appreciated a stable economy and workforce, they valued freedom and culture even more. The production wines, paintings, ceramics, and traditional ceremonies for weddings, births, and funerals were all an important aspect of Greek culture. The Greeks valued the enjoyment and leisure of life to the same degree (if not more) than an y other aspect of their civilization. (Starr,208)The Polis was indeed a highly organized concept of civilization. The values and freedoms which originated from the polis are strongly reflected in modern society. Their belief in individual rights and an overall commitment towards their community seemed to have been applied much well in the Greek society than it ever would in our modern democracy. However the ideas which originated from the polis serve as an ideal state and a goal which we continually aim to achieve in our modern world. BibliographyReferences Chester G. Starr, A History Of The Ancient World, 4th ed. 1991 Michael A. Lumas, The Atlas of World Histroy, 1993. .u28ad6345f29a4b2b7bd35b131ecbb031 , .u28ad6345f29a4b2b7bd35b131ecbb031 .postImageUrl , .u28ad6345f29a4b2b7bd35b131ecbb031 .centered-text-area { min-height: 80px; position: relative; } .u28ad6345f29a4b2b7bd35b131ecbb031 , .u28ad6345f29a4b2b7bd35b131ecbb031:hover , .u28ad6345f29a4b2b7bd35b131ecbb031:visited , .u28ad6345f29a4b2b7bd35b131ecbb031:active { border:0!important; } .u28ad6345f29a4b2b7bd35b131ecbb031 .clearfix:after { content: ""; display: table; clear: both; } .u28ad6345f29a4b2b7bd35b131ecbb031 { 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; } .u28ad6345f29a4b2b7bd35b131ecbb031:active , .u28ad6345f29a4b2b7bd35b131ecbb031:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u28ad6345f29a4b2b7bd35b131ecbb031 .centered-text-area { width: 100%; position: relative ; } .u28ad6345f29a4b2b7bd35b131ecbb031 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u28ad6345f29a4b2b7bd35b131ecbb031 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u28ad6345f29a4b2b7bd35b131ecbb031 .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; } .u28ad6345f29a4b2b7bd35b131ecbb031:hover .ctaButton { background-color: #34495E!important; } .u28ad6345f29a4b2b7bd35b131ecbb031 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u28ad6345f29a4b2b7bd35b131ecbb031 .u28ad6345f29a4b2b7bd35b131ecbb031-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u28ad6345f29a4b2b7bd35b131ecbb031:after { content: ""; display: block; clear: both; } READ: Usmoke EssayHistory Essays
Sunday, November 24, 2019
Why did the United State gover essays
Why did the United State gover essays In the spring of 2003 the United States of America invaded the country of Iraq for the second time. The invasion occurred amongst a storm of controversy in regards to the justification for the incursion. Though the international community was in agreement that the oppressive dictatorship of Saddam Hussien needed to comply with UN resolution, they did not unanimously approve of direct military action to remove him from power. However, the United States acted unilaterally and invaded Iraq with out international consent. In the aftermath of the invasion the United States relations with other countries have been strained. In particular, the international community is questioning the rational and justification for the invasion. This statement begs the question: why did the United States participate in the invasion of Iraq? There exist many potential hypotheses that would explain the US involvement in the Iraqi invasion. However, two opposing and yet equally possible explanations have received a great deal of attention in the media. One school of thought conveys that the US action in Iraq was the result of a dependancy and desire to secure a reliable and inexpensive source of oil. The second school of thought claims that the action was the product of the United States desire to engage and expand the global community of democratic nations. This paper is a proposal for a research plan that seeks to examine the rational and justification for the US invasion o f Iraqi. Specifically, to determine if the US action was the result of oil or democracy. The research plan for this study will include a broad survey of the news media, US government documents, and international organization (UN) documents with particular attention paid to the subjects at hand. The critical test which will determine the validity of one hypothesis and reject the other is as follows. In warfare the most important objectives are the primary targets, they...
Thursday, November 21, 2019
Health disparities Essay Example | Topics and Well Written Essays - 750 words
Health disparities - Essay Example This research paper ââ¬Å"Health disparitiesâ⬠examines the health issues in the modern day context. One of the important findings that can be observed from the article that the prevalence of health disparity in the form of osteoporosis is quite high amid the women belonging to Switzerland and is anticipated to raise dramatically in future due to the significant factor of aging population. However, there are certain strategies or policy interventions that can be followed in order to deal with one of the imperative health disparity of osteoporosis. The strategies might include screening and assessing fracture risks relating to the health disparity of osteoporosis. Health disparities are often considered to be one of the critical issues in the modern day context. It is generally caused due to improper treatment of various individuals along with various discrepancies. It has been apparently observed relating to the article that the women in the US are largely suffering from the he alth disparities of BDM and osteoporosis at large. It can be stated that one of the major reasons for the occurrence of the previously mentioned health disparities is aging population that is mounting extensively in the US. Furthermore, smoking has also been identified as the other chief reason for creating such health disparities. Health disparities can be reduced with promotion of personal dignity along with responsibility of a person. They can also be improved through establishing effective communication. (Kutner, 2006). Moreover, the health disparities can be improved through maintaining the instructions prescribed by medical specialists. In this similar context, there are certain effective strategies that can enhance the health of the Swiss women who have been suffering with the critical health disparities like BDM and osteoporosis. One of the effective strategies for the population i.e. the Swiss women who are extremely suffering from BDM and osteoporosis is the intake of calc ium or vitamin, either in the form of diet or exercise. Apart from intake of calcium or vitamin, the population suffering from the aforementioned critical health disparities can also enhance their health through performing weight-bearing exercises (The Joint Commission, 2008). It can also be stated that the application of mammography-screening can also be used as an effective strategy in improving the health disparity of BDM and osteoporosis amid the population of Swiss women. This particular screening would lessen the aforementioned health disparities by conducting screening tests in the initial stage enabling the patients to keep fit (Lee, Mountain & Koenig, 2001). Addressing Similar Health Issues for Women Population The women population in the US facing health issues such as BDM and osteoporosis are required to experience certain significant treatments to keep themselves free from such critical health hazards. It can be affirmed that the patients suffering from osteoporosis and BDM are required to have proper treatment concerning their bones. The treatment regarding such health issues can be addressed in accordance with primary intervention. In this regard, relating to BDM, it can be addressed through conducting general screenings for lessening the risk of fractures. In the context of tertiary prevention, different aspects like mobility aiding,
Wednesday, November 20, 2019
Corporate personality Essay Example | Topics and Well Written Essays - 1500 words
Corporate personality - Essay Example ive Officers (CEO) of large corporations as well as marketing managers of even smaller organisations are not hesitant to spend large sums of money in creating brand awareness through advertisements which also helps create the identity of the organisation among its customers. Against this background, it can be noted that the concept of ââ¬Å"corporate personalityâ⬠is topical and is indispensable especially to organisations which are seriously concerned about making profits as well as ensuring their survival and viability in an environment characterised by stiff competition. In order to get a clear understanding of the concept of corporate personality considering the attitude of the courts to this important part of company law, it is imperative to begin by explaining what corporate personality is. Corporate personality is mainly concerned with establishing and maintaining the identity of a company (Gibson 1998). This involves creating the brand name or logo of the company which will be used as its identity to distinguish itself from the other companies operating in the same industry. In a free market, competition by various players is so intense such that there is need for companies to come up with strong brands that will make them different from the other players. This is particularly very important in that it will allow the customers to choose and identify with particular products which can help generate more revenue on behalf of the customer. This also helps the organisation to position its unique brand in the market which can give it a competitive a dvantage. However, gaining competitive advantage is not the only purpose of corporate personality but there is more to that than what is generally believed by many people. The operations of different companies are guided by the legal framework obtaining in that particular country. The laws in different countries are also particularly designed to protect the citizens from losing their money when they enter into
Monday, November 18, 2019
Efficiency of the market Essay Example | Topics and Well Written Essays - 250 words
Efficiency of the market - Essay Example At the same time, perfect indiscriminate price monopoly not only leads to the optimal benefit to the firm but also maximizes market efficiency. In monopolistic market, single-priced monopoly adversely impacts the market mainly because it does not reflect the real human cost of producing goods which result in market anomalies and inefficient market. But when perfect indiscriminate price monopoly is applied on goods, the market response is more positive. Different price strategy in segmented market helps the firm to sell all the goods that are produced. In imperfect indiscriminate pricing, inefficient allocation of resources adversely influences the market efficiency and consequently, both the firm and the consumer become losers. Moreover, perfect indiscriminate price monopoly also encourages innovative inputs and highly creative ideas that facilitate production of goods which can provide the firms with competitive advantage vis-Ã -vis market monopoly. Patents law, intellectual rights and copyrights are prime examples of government aided monopoly that promotes creative inputs and widens the scope of market driven goals and
Friday, November 15, 2019
The Environmental Case Analysis Of Ryanair Commerce Essay
The Environmental Case Analysis Of Ryanair Commerce Essay In an organisation the most important feature is its strategy, because strategy is the feature which gives the means to the firm to be successful. This is an effective long-term method to conduct an organisation to reach its objectives and goals to stay put on its competitive edge The scope of this essay is to consult the strategic analysis of environment and the industry together with the companys present strategic choices, and also it is requested to recommend new strategic initiatives and areas for improving strategy implementation for the senior management team of Ryanair. This is conducted with the use of six strategic models (SWOT, PESTLE, Porters Five Forces, Strategic groups, Value Chain and VRIO) that are recommended to be used to analyse the internal and external environment of the company. Each model will be taken in to deliberation and discussed carefully to highlight what had begin the case for the negative perception and the positive perception of both the customers and the companies towards its growth and sustainability Therefore this case study will be analysed to pin point on what should be done for the future strategic management of the company. Out of all the low fare airlines in the European industry Ryanair takes the lead. This airline however is from Ireland and its head office is situated in Dublin. London Stansted Airport in UK is its main operational base. Ryanair is named as the largest low cost carrier and the is the third largest airline in the account of passenger numbers. To offer- secure, cost competitive and efficient in services in the aviation hauling and to retain their employees dedication and devotion to fulfil the objectives of the industry, to maintain minimum standard of on time performance rate while complying will all application regulations and to sustain an environments where dignity and family values are being utilized. Objectives To achieve revenue growth annually To aim on having a bigger market share To have a better customer service than their rival companies To have a stronger business image Reputations with clients than rivals To be recognized as a leader among airline industries To compete in the global market To have a stable competitive advantage (Marivic .B 2009) 3.0 Micro environment analysis (Internal analysis) Organisations create worth of customer value being measured by a product performance characterises and by the credits which customers are willing to pay, by utilizing the capabilities and resources that are found internally and reaching the demand of standard global competition . These particular collection of capabilities and resources which gives the exclusive advantages to the organisation are therefore measured as core competencies Carpenter, Bauer, Erdogan (2009) 3.1 SWOT analysis (Strength and Weaknesses) Strengths The lowest cost in contrast to all the other LCC in Europe The low cost leadership had made it stand out from the arena of LCC industry in Europe The worlds most profitable airline According to the case Ryanair was the most profitable airline in the world on the basis of its operating and net profit margin, on per airline and passenger basis. Brand recognition It is claimed according to the case that Ryanairs website was the largest travel website in Europe and the fifth most recognized brand in Google The attitude of No frill Low fare To overcome the weakness of low passengers the airline restyled the system with this attitude Compared to other LCC airlines Ryanair has the most passengers 42 million passengers in 2007 Most amount of bases with most amount of aircrafts According to the case study Ryanair has flown from 16 bases with over 100 new Boeing 737-800 ordering further 138 new air crafts doubling the size Highest control in the EU low cost market 29.9% from the entire Low cost market Being the youngest fleet of all the major airlines in the EU Replacing its fleet of old aircrafts with new, more eco friendly aircrafts, minimizing the average age of its fleet to 2.4 years. Weaknesses Wheelchair chargers Bad reputation and ethical issues reflected when ryanair charged 18 pounds to use a wheelchair and in response to the protest it reduced the charge to 50 cents wheelchair toll on every passenger ticket Poor service quality The little legroom and unfriendly staff being the worst part of Ryanairs know-how Extra charge for food and luggages Carryon luggages being limited and making them check in bags allowing the passengers to walk in with minimum of hold luggage Bad relationship with the pilots Ryanair has bullied pilots to force them to agree to new contracts wherer they would have to pay 15,000 francs for retraining on new aircrafts if they left the airline. Airports in the suburbs Away from the main city make the customers inconvenient Negative response by the passengers for the additional services According to the case not all ancillary services initiatives were successful in 2005, passengers were resistance to pay additional amount because they thought it is not a worthwhile investment for a short flight. 3.2 The Value chain Infrastructure of the firm Around Europe Ryanair has 16 bases having the main bases in Stanstead and Dublin. The chargers of Ryanair airports are low due to its use of airports that are significantly away from the congested main airports. As adaptation for surcharges are not included for fuel they have to cut costs of on other ways with implementing chargers for the use of wheelchairs ,food and extra luggages. Ryanair having one type of aircrafts (boeing 737) they only have to train the pilots to fly thos particular plane hence can cut down costs as they do not have to be sent to various courses.The hierachial structure of Ryanair is very effective as the managers have to report to the CEO to make decision from the information given. Human Resource management Having the employees sleep in the bases and not having them stay in hotels has made Ryanair reduce costs. Ryanair can make future plans since they have a good roster for most of their workers having 4 days on and 3 days off. Technological development Online booking was introduced by Ryanair for the first time and thus they became eligible to reduce their costs. Self-check service enabling to the passengers was also introduced too thus Ryanair was able to reduce staff and cost. Having the youngest fleets in the EU made Ryanair reduced in costs for the new airplanes. Procurement Ryanair only providing a service and having to outsource the material they need. in addition to that they have to buy fuel and equipment collectively with leasing planes. Inbound logistics Out sourcing of handling services is very common fir a business like this I.e. cleaning service, food, medical services and security/safety. Operations Before setting off it is a must to check out all the planes and equipments by the pilots and the airports used are not very congested and only make point to point trips Marketing and sales Having the biggest website in Europe and having large advertising boards made them increase in sales and marketing. However the attempt of introducing the entertainment facility onto flights where customers had to pay more was failed as people refused to pay due to short journeys Service Having tried to keep the fleet up-to-date and letting the staff go on course once a year to improve their knowledge and making sure they know all the new regulations made Ryanair powerful on services as well. 3.3 VRIO Analysis Resources and capabilities can be regard as things that an organization own. It is essential to narrow down and clarify the core competencies to understand the meaning of the different organizational performances. If an organizations resource and capabilities are valuable, rare, inimitable and organized then it will direct to a sustainable competitive advantage. The internal analysis can thus be analyzed through this base of VRIO framework. Carpenter. M, Bauer. T, Erdogan .B (2009) Analysis of the case Recourses Valuable Rare Inimitability Organized Competitive Implication (1) Human Resources No No No No Competitive disadvantage (2) Finance Resources Yes Yes Yes Yes Sustainable competitive advantage (3) Tangible assets Yes No No Yes Competitive Parity (4) Intangible assets Yes Yes Yes Yes Sustainable competitive advantage (Table 1) The human resource of Ryanair is a competitive disadvantage as it highlights on bad relationship with pilots therefore it is not valuable it is not rare it is inimitable and it is not organized as it is not effectively arranged and deployed in the market. The Finance resources of Ryanair is valuable, it is rare, it cannot be imitated by other airlines and it is well organised and effectively arranged in the market thus it is a sustainable competitive advantage. The tangible assets of Ryanair i.e. the airplane types etc are valuable but they are not rare they can find them anywhere and the planes are imitable as any other company could have the same kind of flights. They are very well organized with the youngest planes and eco friendly with better airlines to come in to the firm in the future. Thus it has a competitive parity. The intangible assets of Ryanair especially the brand recognition are valuable they are rare and they are inimitable and they also effectively help the organisation to be organized. Thus it is a sustainable competitive advantage. 4.0 External analysis 4.1 SWOT analysis (Opportunities and Threats) Opportunities Sales increases due to credit crunch As a result of the recent recession the credit crunch made the sales increase as many customers wanted to reduce their costs. Can join the long haul market penetration by the possibility of taking over Aer Lingus As the result of losing the bid Miceal OLeary assumed that Aer Lingus can be bought over as it has no long term future. Most routes are being clear as other carriers start withdrawing As the clash increased with the routes of Ryanair other airlines such as My Travel Light are avoiding the routes all together. Threats Threats due to accidents If an accident happen in a LCC airline it will Marjory affect the firm as there are a very high percentage of significant reduce in demand Attacks of terrorists Attacks like 9/11 will reduce the demand for airlines. Increasing fuel price Ryanair limiting its ability to pass on increased costs to the passengers of low fare placing extra fare on the carriers as a policy to find cost saving in other spheres of its operations leading Ryanair for hedging. Possibility of taxation introduction Due to global warming there can be a environmental taxation Increased competition from developing countries Easyjet having and extra skyttax star For website booking and customer support Ryanair scored 1/5 in nine of the 16 criterias. (Bitterwallet nd) 4.2 The PESTLE analytical technique (Figure 1) The Macro Environmental analysis, What makes a good leader? Political One of the significant advantages to Ryanair is its political environment as the majority of its procedures are controlled within Europe. This region maintains political stability and it was a fact that we all knew. Even when there is government instability Ryanair does not experience issues as an apprehension regarding passenger volumes or flight destinations Economic For the airlines industry the increment of fuel price caused a major problem they had to cut corners if they did not hedge to accumulate cost on other areas. There can be seen a fall in demand for the flights due to the recent economic crisis. Hence job cuts increased and customers have low disposable income blocking them to spend on vacations. However this could be an advantage for other cheaper airline industries as there are people who are still able to afford a vacation as they are looking for lower cost alternatives. Social This factor has generally impacted Ryanairs business strategy. The prediction of Buyer behavior are becoming gradually more complex to forecast as loyalty are being shifted by the modern consumers from one brand to anther due to the differentiation of price and lack of basic buyer reliability. In addition to that the increasing competition among carriers with low cost fare is resulting in consumers mentally in which carrier to choose when traveling within Europe destinations. Technological The modern era is advance in technology which means that the entire industry is under change with more eco friendly and efficient. Online booking is one major improvement Ryanair has technological wise having the most visited travel website in Europe together with the fifth most recognized brand on Google Legal The heavily regulated industry with laws that are constantly adapting to new changers by not allowing liquid in the customers carry on luggages bring the legal aspect of Ryanair in to action. The new laws that implies to airline industries are the laws that are put across the industries to be more environmentally friendly. This will thus lead to companies fight ting to reduce carbon emission and make the industry less harmful to the environment to meet the terms of EU regulations. Environmental The external environment of Ryanair is somewhat stable. Nevertheless understanding the consumer behavior is Ryanairs biggest problem together with utilizing marketing applications to improve entire buyer patronage and sales performance. 4.3 Porters Five Forcers The case study will be discussed through the porters five forces analysis. This analysis is a very powerful yet simple technique to find out where the power stays in a business. This technique is used to comprehend the strengths of the present competitive position and the future where Ryanair is willing to go in. High Medium Low High Medium Bargaining power of suppliers In the airline industry there is a small number of low fare airlines, thus it shows a high threat according to the case Ryanair is being chosen by many customers for its lowest price. However by any chance if there is a price raise customers have a high potential of switching to another brand in brief customers have no loyalty towards one brand. Which gives the result as bargaining power of the suppliers is low. Bargaining power of buyers The potential of switching to other airlines are very common with LCCs since the customers are only looking for the cheapest. Therefore if Ryanair increase the cost under any circumstance there is a possibility of losing customer. In that case its evident that buyer bargaining power is high. Rivalry of competitors As a result of slow growth in the industry most carriers find it difficult to succeed the chance of succession is limited to a few firms because of the competition for market share. The high fixed cost and low product differentiation leads to high rivalry threat. This shows with Air Ligus, GlyBe and Easyjet following the similar path of Ryanair. Substitution Threat There are many substitutes for long trip i.e. Trains Buses, cars, ferries. However one cannot compare a plane with all of the above mentioned alternatives and a plane travel faster than any of them. Therefore substitute threat is moderate. The threat of new entry Airline industry is not the easiest to enter it has a lot of barriers. Ryanair is the market leader and with the implementations of new regulations and the pressure to reduce carbon emission makes it a moderate threat of new entry to the market. 4.4 Strategic groups Quality 3 2 1 Cost According to the dimensions of quality and cost of the entire industry (Refer appendix 1) 1st group falls under the same strategic group as they have same strategy of low cost leadership. 2nd group mainly serving to the people with a moderate income levels and moderate cost therefore they have the same strategy of medium cost leadership strategy. 3rd group falls under the same strategic group, as they have the same strategy of high cost high quality. Profitability 3 2 1 Number of passengers According to the dimension of profitability and number of passengers of Budget airline industry (Refer appendix 1) 1st group falls under the same strategic group as they have low profit and lowest number of passengers 2nd group falls under the same strategic group as they have medium profitability and medium amount of passengers travelling 3rd group falls under the same strategic group as they have high profitability and the highest number of passenger 5.0 Strategic choices and the recommended strategy The strategic framework of change management This framework helps Ryanair to understand the substantial change over recent years and the importance of organisational culture to organizational analysis. It also can be used to identify the key steps that could improve the management of change. However according to the Ryanair case study management is up to a good standard and therefore change management is least important The strategic framework for advertising challengers This framework can be implemented to Ryanair as it had an incident with a customer where she was mislead by an advertisement, yet this framework is also a less important The strategic framework for Customer Relationship Management This framework is used to broaden the understanding of CRM. Negative response by the passengers for the additional services Bad relationship with the pilots Poor service quality These are some of the weaknesses Ryanairs CRM come across thus to fill the bridge of the gap between negative attitude towards Customer relationship and to make it more favourable it is a must for ryanair to focus on the CRM. If Ryanair take this strategic frame work in to action they will be able to Become The most favourable airline in the industry The most profitable budget airline The positive word of mouth The well recognized brand in the industry Moreover with Customer relationship management the internal market will be looked in to with a positive perspective when the employees are motivated and when there is a beginning for employment recognition thus employees will be treated well which will lead to an overall success of the airline 6.0 Conclusion Ryanair case study was analysed through six analytical techniques (SWOT, PESTLE, Porters five Forces, Value chain, VRIO and strategic groups). Based on the analysers the management can now understand that in order to improve the strategic implementation they must follow the strategic framework of Customer relationship management It helps to bridge the gap and to meet their objectives. Therefore when the recommended framework is implemented the vision of Ryanair can be reached easily. 7.0 Referencing Beamish. H.R, 2008 Strategic management, 3rd edition, Pearson Prentice Hall Bourgeois L.J, Duhaime.I.M, Stimpert J.L, (1999) Strategic Management: a managerial perspective, 2nd Edition, Dryden press, USA Bourgeois L.J, Duhaime.I.M, Stimpert J.L, (1999) Strategic Management: a managerial perspective, 2nd Edition, Dryden press, USA Carpenter. M, Bauer. T, Erdogan .B (March 2009), Developing strategy through internal analysis Principles of management, ,Retrived on 15th April 2010 from http://www.flatworldknowledge.com/pub/1.0/principles-management/29045 Carpenter. M, Bauer. T, Erdogan .B (March 2009), Developing strategy through internal analysis, Principles of management and Organisational Behaviour, ,Retrived on 15th April 2010 from http://www.flatworldknowledge.com/pub/1.0/principles-management-and-orga/32825 De Puget.G, 2003, French Accent Ryanair Slow on Emotion, Brandchannel, Retrieved on 11th April 2010 from http://www.brandchannel.com/brand_speak.asp?bs_id=72 Eerste. P de, (2008), Boeing 737-800 RyanAir Textures, Retrieved on 25th April 2010 from http://simviation.com/simviation/index.php?type=itemHYPERLINK http://simviation.com/simviation/index.php?type=itemID=60page=9HYPERLINK http://simviation.com/simviation/index.php?type=itemID=60page=9ID=60HYPERLINK http://simviation.com/simviation/index.php?type=itemID=60page=9HYPERLINK http://simviation.com/simviation/index.php?type=itemID=60page=9page=9 GRUNDY, T. (2006) Rethinking and reinventing Michael Porters five forces model. Strategic Change. Vol 15, No 5, August. pp213-229. http://www.coursework4you.co.uk/essays-and-dissertations/porter-5-forces.php Haberberg, A. and Rieple, A. (2001), The Strategic Management of Organizations, Essex: Pearson Education Limited. Johnson, G., Scholes, K. (1997). Exploring corporate strategy (4th ed.). London: Prentice Hall Johnson G, Sholes K, Whittington R, (2005) Exploring Corporate Strategy: text and cases 7th Edition, London: Prentice Hall Marivic.B, 2009,Ryanair financial objective, Thinking made easy, Retrieved on 11th April 2010 from http://ivythesis.typepad.com/term_paper_topics/2009/03/ryanairs-financial-objectives.html Mun.J, (2008) Analysis of Ryanairs Competitive Advantages Business HYPERLINK http://www.associatedcontent.com/business/?cat=3HYPERLINK http://www.associatedcontent.com/business/?cat=3 Finance , Retrieved on 17th April 2010 from http://www.associatedcontent.com/article/1159874/analysis_of_ryanairs_competitive_advantages.html Porters five forces, Mind Tools retrieved on 12th April 2010 from http://www.mindtools.com/pages/article/newTMC_08.htm Ryanair,Airfearsflights nd retrived on 10th April 2010 from http://www.airfaresflights.co.uk/airlines/Ryanair Figure 1 http://www.whatmakesagoodleader.com/macro-environment-analysis.html 8.0 Appendixes
Wednesday, November 13, 2019
Flowers for Algernon :: essays research papers
Medical operations are carried out everyday, but for some, an operation can change a person's life. One experiment was done on a mentally retarded person to try to raise his intelligence. The experiment worked, but after months, the patient regressed dramatically. In the book, Flowers for Algernon,this intelligence operation was preformed, and the patient was Charlie Gordon. After the operation, Charlie was very bright, but experienced psychological traumas, loneliness, disillusionment, and social inadequacies. After his operation, he remembered every aspect of his childhood, whether it was good or bad. Charlie had dreams of how his mother was ashamed of him. Charlie's sister also ignored him. To her, Charlie was dumb and could not do anything. Charlie had dreams of his sister yelling at him and making fun of him. He also had memories of the night his parents took him to the Warren Home. He was terrified and his dad would never answer his questions. Charlie remembered his childhood and through his memories, he felt guilty for hurting his family. In the bakery he used to have friends. Friends that would talk to him and care about him. Charlie then realized that he had no friends but merely knew people that made fun of him. The bakery employees just liked him because they could blame their mistakes on Charlie. Then, they could not do this after the operation, so they all turned against Charlie. Charlie felt like an lab specimen. Charlie had lost his friends and knew now he was just a like a lab rat. veryday Charlie lost a piece of himself. He would become mad at people very quickly and then yell at them. People stayed away from him because he was becoming unpredictable. Charlie lost his job because he was to smart to work in a bakery. He could not interact with people he worked with and the people he met. The "Charlie" inside of himself emerged and started to regain control of his mind. All in all, Charlie suffered from the pain of not knowing how to d eal with his peers and decisions.
Sunday, November 10, 2019
How Do Casinos Guard Against Unethical Behavior Essay
A casino is type of facility which homes and accommodates certain kinds of gambling actions. Casinos are most generally constructed, combined, or near with restaurants, cruise ships, retail shopping, hotels, or various other attractive tourist places. There is also much arguing over whether or not the economic and social effects of casino gambling outweigh the early income that may be generated. And also a casino that upholds any law consistently is working ethically. If the law is no mid shoe entry, then that law applies to everybody, and imposed on everybody. If that law is only applied to certain group of actors for the casinos personal gluttonous causes then of course that is termed as unethical. By the establishment of state legal action must be taken in opposition to these casinos for the right to not be distinguished in opposition to for using our minds to improve ourselves. And, a business should not be permitted to charge some clients more for the similar product as well, particularly right in front of the two clients at the table. Casinos have all rights to be as profitable as possible and achievable, but not by cheating the particular public. Casinos are faced with various unethical problems nowadays. ââ¬Å"The International Casino Conference (ICC) was created in 2009 by the European Casino Association, in partnership with Clarion Gaming, as a strategic platform for ECAââ¬â¢s members, the European and International casino community to meet and discuss, in an intimate format, solutions to key challenges faced by the industry in Europeâ⬠(International Casino Conference (ICC), n. d). Representatives from the various industry divisions (casino, online, arcades, TV etc. , the one of the most brightest minds and most powerful casino executives, as well as strategy representatives, supervisors and gaming authorities meet jointly to talk about the long-term vision of the business, the expansions of the marketplace, the upcoming changes in policy and the most significant strategic and regulatory problems having an impact on the casino business sector in Europe. Casinos around the earth face a real challenge in consistently recognizing undesirables, banned persons and self-excluders. These security and regulatory driven needs must function fficiently, yet should incorporate seamlessly into existing processes of the business in a method that origins minimum disruption to other clientele, or the business itself. Failure to precisely recognize these target groups can have an important fiscal impact on a casino, creating the right solution is a key constituent of the security toolkit. Unethical practices always create lots of problems in all area of concerns. Proper measures must be taken to overcome all these unethical practices in the Casino industry to continue working in a good manner. Visimetrics specialize or concentrate in the design, expansion and produce of high-performance recording systems of digital video, storage space and organization systems for audio and video surveillance. As a well recognized and extremely appreciated supplier to the casino segment, Visimetrics recognized the demand of these casino sectorââ¬â¢s for a solution that would precisely and consistently recognize banned people, self-excluders and even VIPs. After a widespread marketplace trials and research, Visimetrics partnered with various types of face identification expert, Omni Perception. Omni Perceptionââ¬â¢s tactful and world-leading approach to recognizing non-compliant subject matters in any lighting circumstances and in real time made it the perfect solution for this atmosphere. ââ¬Å"Omni Perceptionââ¬â¢s live facial recognition solution was simple to install, easy to use and gave great results. All the staff at the casino was impressed by its ability to recognize subjects, even non-compliant ones, in the near-dark environment of the gaming floor. Visimetrics have been consistently impressed with the performance of Omni Perception in what was a very testing environment. (Case Study: Real-Time Facial Surveillance ââ¬â Casinos, 2012). Addiction to gambling can be as great of a trouble as alcoholism or drug addiction The current increase in popularity and attractiveness of online gambling, casino gambling, and gambling to lift funds for charitable associations poses many ethical and social issues. Gambling and the accessibility of gambling chances in the community lift special troubles for someone stressed with the addiction. ââ¬Å"The simulation involves running a complete business consisting of three types of casino ââ¬â a basic gaming club, a more up market gaming club and a top of the market casino. Decisions cover marketing (customer incentives and promotion), finance (bank loans) and casino operations (resourcing and quality improvement). So, it is especially suited to help participants appreciate the general management of a complete business, its main functions, and how they interactâ⬠(The Challenge Series, 1999). Technology has facilitated law enforcement to react more rapidly to calls for all the service, make use of more superior non-lethal compliance utensils, and make use of the Internet to battle crime. The basis of ethical practices and performances is mainly based on the Fourth alteration of the Constitution that has been supplemented by the courts of the US delivering judgments that influence the use of various types of technology by law enforcement administrators and officers. Ethics is the capability to create a distinctive alternative among what is wrong and what is right. Officers of the Law enforcement make use of their discretion when the advantage of community outweighs the letter of the law. ââ¬Å"When it comes to technology, there is no ââ¬Å¾technology ethics? just ethical situations that involve technology (Kallman & Grillo, 1993, p. 3). Technology allows unethical acts to be facilitated faster than before and can be more difficult to detect. Although most ethical values are learned throughout childhood, other ethical values are guided by laws and customs based on the ethical values that are reflected by societyââ¬â¢s expectation of behaviorâ⬠(Savannah, 2012). An officer of the law enforcement experiences disagreement when his/her individuals ethical approaches contradicts and are different with an existing rule or law. It is a sad fact that the workers of just about all businesses will infrequently encounter group members who are receiving part in unethical behaviors. Such unethical behaviors actions consist of a large diversity of different activities. Along with the most general unethical behaviors of the business of workers are creating long-distance calls on company lines, duplicating software for make use of at house, falsify the amount of hours worked, or much more grave and unlawful practices, such as embezzling cash from the business, or faking business records. Like most entertainment projects, casinos provide a work environment that is generally welcoming and fun to be around. So our partnerships with tribal leaders, local communities, architects and designers have dealt us a hand that even the sharpest of card sharks would hold on toâ⬠(Coast to Coast, 2008). Casinos have two common aims: enlarging the length of maintains for on-site visitors, and lengthening the appeal with the intention of enlarges the potential marketplace. Many casinos suggest complimentary services and commodities known as ââ¬Å"compsâ⬠. Comps can consist of objects for example caps, buffet, and T-shirts for the low-end group of actors, up to dinners, transportation, and hotel accommodation for the higher-end group of actors. The area recognized as the casino cage functions as the fiscal center of the process. It maintains an accountability of the chips, tokens, and cash that are used in order to fund the casinoââ¬â¢s operations. Business ethics are ethical values and codes that determine conduct in the company world. It denotes to commercial actions, either with other business homes or with a single consumer. They can be applied to every facet of company; from generation of a thought to its sale. Businesses make use of the community for its functioning and resources, thereby obliging it to the wellbeing of the society. While the aim of any company is to create profits, it must contribute to the interest and wellbeing of the community by guaranteeing fair practices. On the other hand, gluttony has led the present company scenario in the directions of unethical practices of the business, lawful complications and common mistrust. The financial division is abuzz with acts of infringement of norms to accumulate riches in an unethical manner. Following are some of the actions that come in the ambit of unethical practice. * ââ¬Å"Resorting to dishonesty, trickery or deception. * Distortion of facts to mislead or confuse. * Manipulating people emotionally by exploiting their vulnerabilities. * Greed to amass excessive profit. * Creation of false documents to show increased profits. * Avoiding penalty or compensation for unlawful act. * Lack of transparency and resistance to investigation. Harming the environment by exceeding the government prescribed norms for pollution. * Invasion of privacy used as leverage, for obtaining personal or professional gains. * Sexual discriminationâ⬠(Ethical and Unethical Business Practices, 2000). Speaking to unethical practices and behavior is necessary to maintain an ethical atmosphere in an organization. Integration of ethical customs and conduct into every levels of the business can be done in the following methods. * Codes of business ethics must be formulated so that workers are conscious of the organizationââ¬â¢s anticipations concerning ethical conduct and norms. An appeal procedure should be in place so that any unethical performances can be brought into light. * Seminars on company ethics must be conducted for workers. This will assist them in understanding the significance of ethical work customs. * Compliance officers should be appointed to stay a check on deception, bribery, and abuse in the company. * To encourage ethical actions, performance organization schemes of the organization should be modified to integrate ethical actions as a parameter for assessment and rewards. Business houses that obey with ethics to decide their carry out are shrinking in number. The lack of company ethics in the marketplace is a big cause to worry. Organizations now identify the positive results and effects of being ethical, considerate and humane. They have a competitive border in the marketplace, for the reason that of the honesty they demonstrate in their services. Their ethically upright reputation gives attention on better employees and assists in retention. Although ethics are lawfully binding in the majority cases, self- examining, clearness and answerability will go a long way in establishing belief of the citizens. In addition this, it creates sense to modify, previous to you are penalized. ââ¬Å"Some unethical acts can also be illegal. For example, an employee who has access to a companyââ¬â¢s financial records, such as a bookkeeper or accountant, could use her access and expertise to embezzle company funds. An employee having access to personnel files, such as a human resources representative, could commit identity theft and use employeesââ¬â¢ Social Security numbers to raid bank accounts or fraudulently obtain credit cardsâ⬠(Joseph, 2012).
Friday, November 8, 2019
My Work Experience ÃÂ ÃÂ ÃÂ ÃÂ ÃÂ ÃÂ ÃÂ ÃÂ For my work experience I went to
My Work Experience à à à à à à à à For my work experience I went to My Work Experience ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ For my work experience I went to Vokes Hair Studio in Northampton. It was my own placement. I chose that particular place because I thought it looked nice and also thought it was what I wanted to do. My friend works there so she managed to sort out all the forms for me, which was very nice of her and also organised my transportation to and from work.ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ I went in on a Saturday for my interview with the manager and owner of Vokes (Colin Vokes). I was extremely scared but once I met him I was alright. I was told that I could only wear black, white or red clothing and only shoes were allowed. My hours were 9am to 5:30pm with 45 minutes lunch break.ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ On the very first morning I went in with my friend and I was not worried as I had already met the staff before.I was shown what I would be required to do during the 2 weeks. I learnt how to wash hair, which was more fun than I had expected and learnt all the different stages in hairdressing. When the salon was not very busy I learnt how to style hair on the dummy heads. Sometimes I helped with perms, which I loved doing. I enjoyed learning and found nothing boring whatsoever.ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ I worked in a very clean, pleasant surrounding and the staff were very welcoming towards me. They made me feel like an adult, not a school girl. At lunch times I was invited to go out socializing with the staff. Sometimes my brother and all his college friends would come and meet me, which I enjoyed as I think they are all very funny.ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ à Æ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ In the 2 weeks I never actually worked with Colin because he was on holiday so there was some rule bending. We would all have a McDonalds breakfast in the morning, which would have been not allowed.ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ There are many differences between work and school. I thought school was hard but as soon as you experience the real world, school is a whole different place. I now look at school as the best years I will probably have, so now I am making the most of it. However, the way you are treated at work is much better than at school. You are respected more and treated the same as an adult. This made me feel important and as if I made a difference to the company, which I was told I did.ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ' ÃâÃâ I did like work experience by the end of the 2 weeks, even though it was hard. It has changed my attitude. The first day and the last day were completely different. I was confused the first day and was standing about most of the time but the last few days I felt comfortable to find something to do.ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ ÃÆ'ÃâÃâ IÃÆ'à ¢ÃâÃâ¬ÃâÃâ¢m very grateful for being able to go on this experience and thank all the people that helped me. I was offered a job there on Saturdays and for when I leave school so I will take that into consideration.
Wednesday, November 6, 2019
International Law and morality essays
International Law and morality essays How Many times as a citizen of this great nation does one hear, I wish America would take care of its problems at home and not everybody elses problems. This attitude leads to ideas such as, International law and morality has nothing to do with me and my family. However, it is said no man is an island, and no country is an island to be left alone. Therefore, as the world becomes a smaller place, the importance of international law, and morality must increase. In order to understand the importance of international law, one must understand what is international law. International law is, The body of legal rules that apply between sovereign states and other entities having international personality (Britannica). International law has come about because nations feel the need to live together peacefully. However, it has its roots in each countrys self-interest, and there is no international law enforcing body. Each state has to adhere to the laws through cooperation. Also, some states have put international law into their jurisdictions. International law has come about by three processes, international customary law, treaties, and general principles of law. Customary law is sovereignty, recognition, consent, good faith, freedom of the sea, international responsibility, and self-defense among the states. Treaties help to form international law. Treaties are legally binding and may declare, change, or develop existing international law. There are some very important international rules controlled by treaties. Some of these important aspects of treaties are: diplomatic law, immunity, protection of nationals abroad, freedom of commerce, and succession to international rights and obligations. Also, large international organizations help form international law. Organizations such as United Nations play an important role in the development international law. They modify by consent rules o...
Monday, November 4, 2019
Employee Selection and Performance Appraisal Essay
Employee Selection and Performance Appraisal - Essay Example Organizational operations, in both profit making and ââ¬Ënon-profitââ¬â¢ making enterprises, require evaluation for reconciliation with set objectives as well as for comparison with operations with other enterprises in a similar industry. Assessment is the process of evaluating a subject, which can be a process, in order to ascertain its potential or quality. Management on the other hand refers to the act or responsibility of controlling people or activities. Assessment and management are therefore critical elements in the life of an organization. This paper seeks to discuss performance assessment and management of McDonalds Company. The paper will explore the established culture of employee selection and appraisal criteria that McDonalds applies in its human resource management. The paper will, with this respect, offer an overview of McDonalds human resource practices in employee selection and appraisal initiatives and then further analyze the processes. McDonalds is a multinational company that operates in a number of cultures across the world. Its human resource management is however converged to a uniform culture. With an overall workforce of more than thirty thousand employees, McDonalds has its personnel management strategies incorporated in its core objectives. In order to achieve its goal of being the best service provider in the food industry, the companyââ¬â¢s ensures that it has a diversified cultural base with excellent employee management. McDonalds has a broad based approach in selecting its employees. This includes a special consideration to disabled people who may have some specialized capacity to service delivery. The company has also adopted a universal program for handling older employees more than 55 years of age that follows a criterion of being fair and ââ¬Ënon-discriminatoryââ¬â¢. It has therefore been open to different categories of cultured workforce. As far as recruiting is concerned, the company relies on the
Friday, November 1, 2019
Strategic Management in the Financial Crisis Essay
Strategic Management in the Financial Crisis - Essay Example The study Strategic Management in the Financial Crisis explores the period of the great credit crisis that first had a toll on the United Statesââ¬â¢ financial sector before other parts of the globe had its impact. This may have been because of various issues of failure within companies that even made them fail to meet targets before the financial crisis period. With the resource utilization reaching the maximum limits compounded further by a relatively high wage rate, most enterprises were feeling the pinch in the reduction of their rates of return. The widening of international trade and the strengthening of global capital flows have led to a significant rise in cross-border assets and liabilities, as well as to financial linkages across countries and regions. The key implications of such developments have been a wider spread of shocks and stronger co-movements in macroeconomic variables. There are various issues that have been raised and a major one has been that of the failure of corporate governance as shall be discussed in the paper. It is clear that good corporate governance actually operates effectively in two distinct areas which may include measures put in place to guard against opportunistic or conflicted behaviour by financial technocrats with aims of maximizing wealth. According to good management principles, corporate governance best practice is important and essential for the protection of shareholders and other stakeholders against the often conflicting interests of dealers in the financial sector. Blundell-Wignall et al (2009) point out the need to clarify the responsibilities of regulatory institutions and to restore confidence in the integrity of financial institutions. Independent audits of financial statements provide a check against fraud, and a verified overview of financial evolution of the business. Blundell-Wignall et al (2009) also state that considerable flexibility should be envisaged as regards liquidity management. Quantitative measures and indicators should be integrated into the process in proportion to the degree that they are robust and operational. There is an overall bias in many countries' tax systems which work to encourage corporate leverage. The interface between tax, leverage and excess risk taking is complex. Blundell-Wignall et al. note that the US approach shares the risks of buying toxic assets between the taxpayers and investors creates buyer demand and prevents dumping of assets that would prolong the crisis phase, and is an open-market approach. It is important to foster corporate structures that enhance both stability and competition. The complexity of some corporate groups has been identified in both governance and risk control issues. As a
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