International Finance Management Term Paper Example | Topics and Well Written Essays - 3750 words

International Finance Management - Term Paper Example Forward contracts however can not change hands and are contracts between two parties. Prevailing interest rates in the respective markets have a major impact on the increase or decrease of a contracts price. For example if the GBP/USD contract is on sale at CME, than an increase in the interest rates prevailing in the British economy would increase the contract price and those in the United States economy would decrease it. This is because there is a direct link between the price of value of a currency and interest rates. If for example interest rates are reduced money supply will increase in the economy. According to the economic laws of supply and demand, an increased supply would result in lower prices. Thus the futures expected price of currency would also decrease. Balance of trade is without doubt the most important factor that can affect the price of a currency. Balance of trade refers to the difference between what a country imports and exports. Also called the current account balance, it can only be offset if investors keep investing in dollar dominated assets. If a country gives a budget with a deficit, it can only fill up that deficit by borrowing money for the national or international market. The government will have to use up its currency reserves to pay off international debt and possibly print more money to pay of national debt; these will decrease the value of national currency. The stability of the government is also a huge factor in determining the increase or decrease of national currency value. This is because a stable government establishes stable policies; this stability reduces investor risk thus increasing currency value. These factors have huge impacts on Currency value. This is because the risk associated with the currency is high in war and the risk of default; on foreign payments also increase. In case of Natural disasters, the expenditure of the country increases on

Kentucky Fried Chicken Case Study Example | Topics and Well Written Essays - 500 words - 35

Kentucky Fried Chicken - Case Study Example According to the study, increased political turmoil constantly threatens the existence of KFC in it e.g. in Jan 1, 1994; around 150 people were killed in the Mexican province of Chiapas on the Guatemala border when NAFTA went into effect. In another incident of 1998, the peso crisis resulted in recession in Mexico leaving KFC managers with a great deal of uncertainty regarding Mexico’s political and economic future. This has led to KFC approaching investment in Mexico conservatively until the time when greater economic and political stability is achieved. KFC employs the perfect strategies in selecting its man power and operational procedures. For instance, in china it employed managers who speak and write the native Chinese language, and who is also proficient in the restaurant business and understands the needs of the local Chinese customers better. Its employment plan is localized through hiring the locals. All materials and chicken come from the local supply chains thus en suring that the customers and surrounding communities feel as if they are also one big part of KFC’s existence. It also moved quickly to establish itself by expanding its branches to different parts of the countries in which it had started offering its services so as to serve a larger percentage of the population. Creating its own distribution system has ensured that supplies reach the store network at an appropriate time and in good condition. It has also emphasized on extensive staff and management training on preparation and customer relations and logistics which helps it to attract more customers. Since the early 2000s, fast food has been criticized on the links to obesity, negative environmental impact and cruelty records pertaining to animal welfare. KFCs choice of poultry suppliers worldwide has been protested by People for the Ethical Treatment of Animals (PETA) since 2003.

Walden by Henry David Thoreau Essay Example for Free

Walden by Henry David Thoreau Essay No doubt, the great Henry David Thoreau was born in Concord, Massachusetts on July 12, 1817 and died there calmly on May 6, 1862. He was explained by Hawthorne as ugly as sin. He appreciated nature, and his steady worry was exploring the woods and ponds making full observations of plants and creatures. Henry led a remarkable life, never marrying, and marching to his own drummer, as he put it. From 1845 to 1847, he lived unaccompanied in a little cabin he built by Walden Pond near Concord. He explain this sole trial in natural living in Walden criticizing those who lead lives of quiet desperation by all the trappings of usual society. His personal self-government and simple manner was harsh to a number of people, and he gained very little credit throughout his lifetime. Henry David Thoreau was jailed for refusing to pay his poll-tax because he did not believe he should be part of a government which allowed the holding of slaves and invaded other countries (Mexico) with a standing army. An unknown person paid his poll-tax and he was released from jail. Thoreau would have preferred to remain jailed and had others join him in his refusal. If others had joined him, based on their consciences he believes this could have caused the minority to force the majority to do the right thing. I know this well, that if one thousand, if one hundred, if ten men whom I could name if ten honest men only yes, if one HONEST man ceasing to hold slaves withdrew from the copartner-ship, and be locked up in the county jail therefore, it would be the abolition of slavery in America (Thoreau, Disobedience 317). Summary of His Book Today a majority of high school students do not read books because it is considered boring, and with todays technology, you dont have to read, something else will do it for you. People who dont read often judge a book by its cover. It is not all books that are as dull as their readers. Thoreau said this quote because people often judge books without knowing about the book, in this case, the book would not be dull but the person saying it is will be. In the chapter Reading, Thoreau said, To read well, that is, to read true books in a true spirit, is a noble exercise, and one that will task the reader more than any exercise which the customs of the day esteem. It requires training such as the athletes underwent the steady intention almost of the whole life to this object. This quote is very important because Thoreau is saying that reading is not an easy task, but it also requires lots of practice and training just as athletes undergo. Throughout the chapter of Reading, Thoreau states how everyone should read books, and if we dont, we could end up being like pygmies and manikins. No wonder that Alexander carried the Iliad with him on his expeditions in a precious casket. (Thoreau, Walden) In the chapter Solitude, Thoreau explains how being by yourself is not at all a bad thing. But for the most part it is as solitary where I live as on the prairies. It is as much Asia or Africa as New England, I have, as it were, my own sun and moon and stars, and a little world all to myself. Thoreau didnt look at solitude as being something bad or a punishment, he looked at it as if it were a gift. When he said that he had his own little world all to himself, it made me think different about whenever I am alone. I used to think of solitude as something that was bad, but the way that Thoreau put it, I now felt better about being all by me. In the chapter Visitors, Thoreau talks about how having people around are just as good as being in solitude. I had three chairs in my house; one for solitude, two for friendship, three for society. When visitors came in larger and unexpected numbers there was but the third chair for them all, but they generally economized the room by standing up. I think that when Thoreau said that he wanted to keep things as simple as possible, he meant it. For example, he only had 3 chairs in his house, and to most people that would be crazy, but when you think about it, how many chairs do you actually need? Or how many rooms do you need? Thoreau also said that it was amazing how he could fit 25-30 people in his tiny house, and how that brought him and all of his visitors closer together. I could not but notice some of the peculiarities of my visitors. Girls and boys and young women generally seemed glad to be in the woods. They looked in the pond and at the flowers, and improved their time. (Samuel Taylor Coleridge) Walden by Henry David Thoreau is an important book for a high school student to read because it has important factors of life that may be needed now, or in you future. In this book, Thoreau explained many things, but I think the most important thing he explained were his chapters on Reading, Solitude, and Visitors. He explained the importance and necessity of reading, he showed how being alone is usually a good thing, and he also showed how great visitors can be. These are all reasons why I think high school students should read Walden. Conclusion Thoreau wrote a lot of stories, one counting Walden. This story clearly portrayed Thoreaus love for nature and life. Thoreau, in the primary part, defines what he sees as the main difficulty of his time. In the second part, Thoreau describes his own trial in living an easy life. Part three focuses on what is significant to him. In this case, Nature is most significant to him, believing nature of learn as a spiritual pursuit. The entire story of Walden is just a trial of a man in living well. Henry D. Thoreau also wrote Resistance which was about him refusing to pay a poll tax. He was in prison and imprisoned in agreement for one night in 1846 for default of his poll tax. This act of disobedience was a complaint against slavery and alongside the Mexican War, which Thoreau and other abolitionists regard as a means to get bigger the slave territory. Self-reliance and personal independence are hallmarks which are predominant in Walden. Thoreau went to the woods to get to the most basic facts of life and to appreciate and enjoy everything about these most basic facts. Thoreau viewed the woods in particular, and nature in general, as a teacher of life and living. Thoreau believed that the simpler his life became the greater his opportunity to appreciate life. Thoreau did not want to allow society to determine that which he knew as life. To live an existence based on the common experience of others would be as to neglect ones own experience. Individualism and an appreciation for nature and solitude do not necessarily mean living as a hermit. Thoreau believed that in order to truly appreciate life, to understand and experience life as ones own life, it is necessary to quiet the mind of all the surrounding trappings of society. Individualism, the importance of the individual, self-reliance, and personal independence is one of the leading characteristics of the era of Romanticism. Henry David Thoreau wrote about individualism and demonstrated his belief by the way he lived. Living at Walden Pond, standing up to his government, refusing to pay a poll-tax to a government with which he viewed as corrupt are examples of his fierce independence and individuality. Thoreau is a stellar example of what individuality can produce. A worthy goal is to make the effort to devote oneself to thought and work, to in fact nurture ones own individuality, rather than becoming lost in the mainstream of life. This will allow greater individuality and diversity to complement our current day society. References Samuel Taylor Coleridge, The Collected Works of Samuel Taylor Coleridge, gen. ed. Kathleen Coburn, 14 vols. to date (Princeton: Princeton UP, 1969) 6: 30. Thoreau, Walden, the Writings of Henry David Thoreau 199. All additional citations from Walden will come from this edition and be designated by a page number in parentheses.

The Issue Of Underage Drinking Social Work Essay

The Issue Of Underage Drinking Social Work Essay The issue and prevalence of young people (under 18) drinking alcohol in recent years has become a matter of increasing public concern, with current trends amongst the worst in Europe (Gunning et al 2010). Drinking during childhood, particularly heavy drinking is associated with a range of problems including physical and mental health problems, alcohol-related accidents, violence, and anti-social behaviour (Gunning et al 2010). Young bodies are still growing, and alcohol can harm their development; regular drinking can lead to cancer, liver disease, and heart disorders in later life (Bateman 2011). Deaths from liver disease have risen vastly in the 25-34 age groups over the last 10 years; thought to be a consequence of increased drinking starting from an earlier age (Thomson et al 2008). In England in 2007/2008, more than 7600 children under 17 were admitted to hospital as a result of drinking alcohol (Gunning et al 2010). It is believed that young people who start drinking alcohol at an early age, drink more, and drink more often than those who delay the onset of drinking until they are older. They are also more likely to develop alcohol abuse/dependence problems in adolescence and adulthood; dependence is also likely to occur from a much younger age (Gunning et al 2010). A recent survey carried out in 2010 by the National Centre for Social Research (NatCen) to determine the smoking, drinking and drug use of secondary school pupils aged 11 to 15; (7,674 pupils in 247 schools through the use of questionnaires) interestingly found that the proportion of young people who have drunk alcohol had decreased in comparison with earlier findings from 28 per cent in 2001 to 21 per cent in 2006 (DH 2008). However it must be stated that although there had been a marked decrease in the number of young people who had drunk alcohol; many of the 11 to 15 year olds who do drink were described to be consuming larger amounts of alcohol, more often, to deliberately get drunk (Bateman 2011). This study also conveyed that 18% of pupils had drunk alcohol recently, is equivalent to around 540,000 young people (Gunning et al 2010); suggesting that more still needs to be done to reverse these prominent trends, as despite the marked decrease alcohol misuse in young people is sti ll a serious problem that is affecting the health of the youth today and greatly impacting the wider community, in that alcohol misuse carries a financial burden; and has been estimated to cost nearly  £11,000 million each year, in terms of health, social welfare and criminal justice resources (Waller et al 2002). Collecting this type of data can prove difficult, as drug and alcohol misuse are of a sensitive nature and often individuals do not wish to share this information candidly when questioned. It is particularly difficult to obtain from young people (under the age of 18), as this often has to be carried out within a school environment, via questionnaires. The extent to which honest reporting occurs is again complex, as young people will often exaggerate to peers, and conceal from parents (Gunning et al 2010). Honesty is not the only factor affecting accuracy of responses in young people, precision of estimates and the recall of the amount of alcohol drunk can also be problematic, given that pupils patterns of behaviour between the ages of 11 and 15 may be described as experimental and sporadic opposed to habitual and regular (Gunning et al 2010). The National Treatment Agency (NTA) has recently stated that young peoples substance misuse is a relatively new area of academic study and so r esearch on effective treatment interventions are inconsistent (NTA 2010). It is widely acknowledged that alcohol misuse in youth is inextricably linked to a number of factors; including the influence of parents/family, peers, environment, culture and socio-economic status (Templeton et al 2006). According to the Acheson report (1999), dependency upon alcohol is significantly correlated with socio-economic position, suggesting that the problem is one that is beyond the chemical impact of the substance itself (Nacro Youth Crime Section 1999) coinciding with more recent National statistics and research studies that indicate, as well as sex and age, socio-economic status, ethnicity and geographical area of residence are among the factors linked to levels and patterns of harmful alcohol consumption (Waller et al 2002). In order to target the issue of alcohol misuse within young people, these factors needed to be taken into account and have since been the guide by which policies regarding youth and alcohol are implemented (DH 2008); therefore providing alcohol education in schools; beginning in the primary phase, well before patterns of regular drinking become established, designed to educate and advise young people on sensible drinking patterns and the dangerous effects it may have upon them (DH 2008). Parents and carers also have a responsibility for whether their children drink, at all, and if they do, how much and how frequently they drink. However, for parents to feel confident when talking to their children about alcohol and to empower them to set appropriate boundaries they need guidance from the appropriate services (DH 2008). In terms of government strategies, to target the issue of alcohol misuse in young people; the coalitions programme for government published in May 2010, outlines proposals designed to restrict the supply of alcohol to young people, less than 18 years of age, by increasing the control given to councils to close outlets that persistently sell alcohol to children; and to increase the maximum fines for under-age alcohol sales. Additionally, there will be a ban on the sales of alcohol at below cost price (Gunning et al 2010), and a review of alcohol pricing and taxation, both policies expected to have particular impact on young drinkers (Gunning et al 2010). Whilst these policies are currently weighted towards prevention, and adopting preventative strategies, recent statistics suggest that the majority of young people accessing services and interventions have problems with alcohol (37%) and cannabis (53%) (NTA 2010), thus suggesting that more needs to be done in the preventative stages of alcohol awareness in children; as evidence suggests that the problem is clearly still on-going. The choice and effectiveness of treatment approaches is typically dependent on a range of factors, such as the individual characteristics of the client for example motivation, family life, social circumstances and environment; in addition to the particular drug or drugs that are being used (Crow Reeves 1994). The National Treatment Agency (NTA) defines young peoples treatment as: à ¢Ã¢â€š ¬Ã‚ ¦ care planned medical, psychosocial or specialist harm reduction interventions aimed at alleviating current harm caused by a young persons substance misuse (NTA 2010). Young people with drug related needs are supported by interventions and services within a four-tiered model of drug and alcohol interventions which consists of a General Frontline service delivery for young people and their families (first port of call) (tier 1), open-access services (such as drop in) (tier 2), Drug treatment within the community (Shared care) (tier 3) and residential drug treatment (specialist services) (tier 4) (NTA 2006). Young drug and alcohol users are believed to differ from adults as they will typically not have used drugs for a prolonged period of time, in order to have developed a dependency to a substance; and as a result affecting the type of treatment generally provided to young people (Frontier Economics 2010). Young people are most likely to require psychosocial, harm reduction and family interventions, opposed to treatment for addiction, which most adults but only a small minority of young people require (Frontier Economics 2010). Psychosocial interventions are known as non-pharmacological interventions typically involving structured counselling, motivational enhancement, case management, and care-coordination, psychotherapy, and relapse prevention. The intention is to encourage behavioural and emotional change, with the support of lifestyle adjustments and the enhancement of coping skills (Frontier economics 2011). The most common form of therapy offered for substance misuse is some form of counselling; this may take the form of counselling for the drug problem itself, for example thoughts about using, coping strategies for reducing or counselling concerning the surrounding issues that impact on drug use (Lewis et al 2009). Counselling is a flexible approach and can be used to respond to a wide variety of circumstances surrounding misuse (Rounsaville Carroll 1992). It is possible to identify two general approaches to counselling in use in community drug services, the first being, counselling to tackle the personal problems, underlying drug misuse and the second being that of support and advice to help manage the consequences of drug misuse (Bryant- Jeffries 2001). The vast majority of young people accessing specialist treatment need and receive counselling, sometimes alongside their families to address the underlying causes and consequences of substance misuse. Such psychosocial interventions are the most common form of support accessed by under-18s (Frontier Economics 2011). The National Institute for Health and Clinical Excellence (NICE) coincides with the idea of the counselling theory, and has recommended that offering brief, one-to-one advice on the harmful effects of alcohol use, and how to reduce the risks and find sources of support, is an effective approach for tackling harmful drinking amongst children and young people (NICE 2007). The most common counselling approach to drug treatment has been cognitive behavioural approaches. The cognitive behavioural approach relies greatly on getting the user to focus on identifying problems and solutions. Cognitive behavioural counselling can be used to promote abstinence or gradual control of drug use, with an emphasis on teaching cognitive and behavioural techniques to resist drug use and related behaviours. The cognitive element of CBT is concerned with getting users to identify the reasons why they misuse, and in particular getting them to identify maladaptive thought patterns that lead them to engage in destructive behaviour (Jarvis 1995). The behavioural aspect of CBT is about helping people to look at the signs that encourage them to misuse drugs and to help them develop alternative ways of behaving (Jarvis 1995). NICE has recommended cognitive behavioural therapy (CBT) as an effective intervention for treating young peoples substance misuse (NICE 2007). Providing CBT in a group setting may help young people to role-play and practice coping with high-risk experiences. The group setting allows young people to share similar problems, develop social skills, model, rehearse and gain peer feedback (NICE 2007). NICE also recommends that brief interventions using motivational interview techniques can be used as one-off interventions, or to facilitate engagement with more structured specialist substance misuse treatment (NICE 2007). Implying that individuals with social networks supportive of drinking will benefit especially from a programme that encourages attendance at AA meetings, because it is the most effective means of eliminating heavy drinking friends and acquaintances from the social network (Connors, Tonigan and Miller, 2001). Although NICE states that a group setting is beneficial in helping young people overcome their alcohol abuse it may in fact be criticised, as young people, especially troubled young people may be overwhelmed by group influences, either in treatment among peers who are also recovering from chemical dependence or else after leaving treatment, in the form of familiar drug-using groups (Peele 1987). And so the most successful types of counselling approach used for young people needs to take into account their age, as being amongst adults with alcohol issues would not be beneficial to a young person as adults are often described as dependent requiring more intensive forms of treatment; young people will have often not reached this stage of dependence and so these adult influences may cause further negative impacts on the impressionable young (Geldard 2010). Type of personality needs to be taken into account in order to discover which counselling approach would be most appropriate and succ essful for them as an individual, as some individuals may respond best to a one-to-one approach, being able to fully open up to one person (the counsellor). Whereas some may find it easier to speak within a group setting with peers, learning from others experiences. Counselling is often described as a flexible approach (Rounsaville Carroll, 1992) and therefore can be adopted to meet the needs of individual cases and respond to a wide variety of circumstances surrounding misuse; in addition utilising a flexible approach suggests that it allows for the young person to access this service around other commitments such as school, so as to not jeopardise other important aspects and influences within their sphere of activity, flexibility of counselling will also allow for the involvement of the family, with evidence to suggest that family involvement enhances assessment and intervention and increases motivation in treatment (Kaufman, 1992). As young people are often depicted as not yet i ndependent, family interventions are believed especially important in addressing the basis of their drug and alcohol involvement; (Kaufman, 1992). Also important is helping the family initiate and support the persons involvement in an appropriate treatment program (Kaufman, 1992). Within individual treatment, compared to group therapy it is believed that much more time can be spent on issues that are unique to the individual involved, a trait that needs to be evident when working with young people (Rounsaville Carroll 1992). Motivational interviewing has a number of similarities with cognitive behavioural techniques but has a somewhat different emphasis in that the role of the counsellor is less directive and the responsibility is very much on the client to identify ways of changing (Bryant -Jeffries 2001). It aims, through the counselling relationship, to engage clients in a process of change and assumes that an individuals level of motivation can be influenced by the interaction between the client and the therapist. Motivational interviewing assumes that behaviour is a prospect that can be worked on and developed (Bryant Jeffries 2001). It is concerned essentially with working with clients to address the confluence of factors that drug misusers consistently feel about changing their behaviour and hopefully encouraging them towards reducing or abstaining (Jarvis 1995). The theoretical basis of this approach is Prochaska and Di Clementes transtheoretical model of behaviour change or, as it is most frequently referred to, the stages of change model (Turnbull 2000). The stage of change model is a social cognition model; focusing upon readiness to change a potentially destructive form of health behaviour i.e. drug misuse. The model has been applied to other health behaviours such as eating disorders as well as to substance misuse (Wilson Schlam 2004). It refers to a five or six stage process that people go through in their thoughts about their readiness to change. A study of alcohol users found that the number of clients motivated to change was increased by 77% when motivational interviewing was used (Miller Sanchez 19 99). Motivational interviewing is believed to increases the effectiveness of more extensive psychosocial treatments; often the chosen method of treatment used in young people (NTA 2010). Motivational interviewing although successful, in adult treatment programmes, may not be the best choice of treatment to use when young people are concerned. As previously stated they are unlikely to have used drugs for a prolonged period of time, to develop dependencies (NTA 2010) and so readiness to change, or to contemplate change may not be something they have even thought about and so a pre-occupation with lifelong abstinence in a young population may not only be unnecessary but unrealistic, and may actually encourage regular relapse episodes (Peele 1987). Young people require guidance and cannot often think about the consequences of their actions, or the harm they are causing themselves by heavy drinking (DfES 2004). It is suggested that therapy should encourage the assumption of values toward work, accomplishment, family, and social institutions that facilitate the maturation process (Peele 1987). Harm Reduction is one of the key public health approaches to drug use in recent years (Riley et al 1999). The harm reduction approach attempts to define and discuss drug use in terms of the harm it can be said to cause, and respectively to look at ways of reducing levels of harm (Riley et al 1999). Harm reduction is a term that defines policies, programmes, services and actions that work to reduce the health and social economic harms to the individual, the family, communities or society that are associated with the use of drugs (Newcomb 1992) without necessarily reducing drug consumption (Wodak 2011). A harm reducing approach to illicit drug use focuses on attracting users to services, in the realisation of the fact that many people who have problems with their drug use are not in touch with services (Wodak 2011). Thus, harm reduction policies and programs are offered to those not willing or able to cease their drug use in the short-run; aiming to make services more accessible to drug users as a first step towards treatment; however, this philosophy remains compatible with an eventual goal of abstention (CAHM 2009); Programs requiring abstinence as an immediate goal cannot therefore be considered harm reduction (CAHM 2009). A goal sequence produced by the Aids and Drug Misuse report (ACMD 1988) provides a clear example of a harm reduction approach to drug use; firstly to discourage sharing, encourage the shift from injecting towards oral use, reduce the overall levels of illicit drug use and finally abstinence (ACMD 1988). Harm reduction accepts that some use of mind-altering substances is inevitable and that some level of drug use in society is normal (CAHM 2009), for young people and alcohol use this is most definitely the case, as most individuals have their first experiences of alcohol during their early teenage years (Marlatt Witkiewitz 2002). Based on the recent evidence young people would benefit from prevention programmes aimed to reduce the amount of harm experienced by young drinkers this may be seen as a more realistic and effective method for educating individuals about the possible consequences associated with alcohol consumption as opposed to abstinence within this particular age group (Marlatt Witkiewitz 2002). This suggests that Harm reduction in this sense is the best approach when looking at young people and alcohol misuse, as abstinence may be described as unlikely within this age group, acknowledging that most adolescents will drink, speaking of the possible harms may be enough to reduce harmful levels of drinking by the young person (Marlatt Witkiewitz 2002). The Life Skills Training Program and the Alcohol Misuse Prevention Study (AMPS) in the United States and the School Health and Alcohol Harm Reduction Project (SHAHRP) in Australia are described as large scale intervention studies that have been systematically designed and evaluated based on a harm reduction philosophy (Marlatt Witkiewitz 2002). The life skills training programmes is said to adopt a cognitive behavioural approach to drug abuse prevention; thus providing education on the effects of drugs, teaching skills for resisting social pressure to use drugs, and promoting the development of self-esteem and social skills (Marlatt Witkiewitz 2002). Whilst SHAHRP combines a harm reduction philosophy with skills training, alcohol education, and activities designed to encourage positive health behaviour change (Marlatt Witkiewitz 2002); Results from a study comparing an intervention group of students who participated in SHAHRP with a control group over a 3-year period, conveyed tha t students in SHAHRP had significantly lower levels of alcohol consumption and alcohol related harms (Marlatt Witkiewitz 2002). In conclusion, harm reduction seems the best approach for young people and alcohol use, it must be stated that they are not as advanced as adults who misuse alcohol thus require harm reduction leading to abstinence. Young people will often eventually mature out of harmful drinking behaviour (Marlatt Witkiewitz 2002) and so harm reduction at such a stage should be an appropriate practice in order to highlight the harmful effects to young people enough so that it reduces overall consumption. We need to be able to convince children that life is worth living and that they are capable, not only of avoiding drugs, but of achieving a worthwhile existence (Peele 1987); presenting them with the values of achievement and positive accomplishments; of friendship and community; of health and self-preservation; of fun and adventure; of responsibility for self and contribution to others; of consciousness and intellectual awareness; and of a commitment to life that goes beyond personal protectiveness and fear (Peele 1987).

The Gap Between Rich and Poor Essay example -- Poverty Poor Essays

The Gap Between Rich and Poor As Christmas time approaches, many Americans start to get excited about returning home to all of the familiar festivities. They imagine the smell of the Christmas tree mixed with the aroma of apple cider or think about all of the Christmas specials on television that they will watch. They can not wait to relax in front of the fireplace with their families and to open all of the Christmas gifts piled under the tree. On the other hand, more than half of the rest of the world will not be having the kind of holiday with presents, fireplaces, and television specials that most Americans are used to. In fact, the money U.S. parents spend on Christmas presents alone this year will probably be more than the annual income of over half the worlds population. It is heartbreaking. Our world is essentially divided into two sections: rich and poor. Unfortunately , the majority of people are poor. Each society has certain attributes that are part of its culture. Richer countries are literate, industrial, overweight, overfed, and comfortable. Poorer societies are illiterate, under-developed, hungry, malnourished, and struggling to merely survive. There is a very large and uneven gap between the rich and the poor. This gap is a very real thing. Poverty is a reality that exists for most and effects them every single, waking day of their lives. It is a reality in which children die because their parents could not afford penicillin. People live in small, one-room shacks in groups, of ten with no running water and little food. A bathroom for them is a large hole in the ground. Poverty is a real struggle that’s purpose is to merely survive. This type of poverty did not always exist. Before the Industrial R... ...ndustrial capacity, technology, and infrastructure to compete with the industrialized countries, which have been honing their economic might for over a century. All in all, the problems in the other world in terms of oppression are too great to fathom. It is sick that a minority of the population can cause such agony and deprivation to their own human kind. One of the biggest problems in resolving the problem is that most Americans are completely naive and oblivious to this great oppression that merely continues to get stronger. This year, when all of the Christmas festivities start, maybe some will be a little more humble and remember the part of Christmas called giving. Help has to start somewhere. Individuals can do a tiny bit for maybe one family this Christmas. God willing, the spirit will spread, and the other world might some day find a glimmer of hope.

The Effect of Money on Frequency of Divorce Essay -- Marriage Divorce

Missing Figures INTRODUCTION Despite the fact that divorce is discussed in almost any sociology or anthropology book, no unified explanations for family instability are available. Levinson and Malone (1980: 69) state that "anthropologists have offered little in the way of trustworthy, universal explanations for divorce." The differences in cultures, traditions, and practices among societies make it almost impossible to offer general explanations for family instability. The widely held belief is that when a significant amount of money or property is exchanged, the marriage is more stable. This belief is supported by Minturn et al. (1969: 308) findings that absence of bride price, dowry, and gift exchange at marriage make divorce easier. The purpose of this paper is to investigate how the presence or absence of a marriage transaction and how marriage payments such as bride wealth and dowry affect the frequency of divorce. Definition of Marriage I began my study by looking for a definition of marriage. For I believe how people in these societies view marriage may give me an explanation on why divorce is practiced. Stephens (1963: 5) defined marriage as follows ". . .is a socially legitimate union, begun with a public announcement and undertaken with some idea of permanence; it is assumed with a more or less explicit marriage contract, which spells out reciprocal rights and obligations between spouses, and between the spouses and their future children." Similar to Stephensï ¿ ½ definition, many experts defined marriage as some sort of a permanent relationship between two people. Then, why do societies permit divorce? It can be argued that divorce serves as a way for individuals to get out of abusive and/or unhappy marriag... ...r cope with the in-laws and giving the couple more time to spend together to allow more communication. As a result, a dowry or an indirect dowry is quite effective in reducing the frequency of divorce. BIBLIOGRAPHY Cooper, Barbara M. Womenï ¿ ½s Worth and Wedding Gift Exchange in Maradi, Niger, 1907-89. Journal of African History V36, N1 (Jan, 1995): 121-141. Levinson, David and Martin J. Malone. 1980. Toward Explaining Human Culture: A Critical Review of the Findings of Worldwide Cross-cultural Research. Minturn, Leigh, Martin Grosse and Santoah Haider. 1969. Cultural Patterning of Sexual Beliefs and Behavior. Ethnology 8:301-318. Stephens, William N. 1963. The Family in Cross-cultural Perspective. New York: Holt, Rinehart and Winston. Tambiah, Stanley J. Bride Wealth and Dowry Revisited. Current Anthropology V30, N4 (Aug-Oct, 1989) 413-435.

Case 1

Case Analysis 1: Hightone Electronics, Inc. Identification Information: This case analysis is from chapter 1 of our text book, Operations Management. It is found on page 25 and titled, â€Å"Hightone Electronics, Inc. † Summary of the Facts of the Case: Hightone Electronics, Inc. (HEI) is an electronic components supply company founded over 50 years ago. The company has a reputation for high quality and service. HEI's simple business of supplying radio repair shops with parts has grown to include home delivery, and larger customers such as technical schools, universities, and well-known corporations.The company stocks and sells over 22,000 different items and most customers receive their order within 48 hours. George Gonzales is the operations director for HEI. He has been tasked with making operations management decisions necessary to make HEI a successful Internet-based business. Mr. Gonzales agrees that this is an important step for the future success of the company but bel ieves there is more to solving the problems of the transition to web-based than the board thinks. Case Questions: 1.Explain why operations management is critical to the success of a business. Operations management (OM) is critical to the success of a business for several reasons. OM is responsible for the decision-making and leadership process that creates the product or service the business provides. The role of OM is to take inputs such as, labor, raw materials, and technology, and turn them into finished goods or services. Other functions of the business, such as marketing, are also important. But, without OM, there would not be a product/service to market to consumers. Reid, 2-23) Why would developing an Internet-based business require different operations consideration for HEI? A traditional catalog-order business and an Internet-based catalog-order business would be very similar in general appearance. A transition to web-based ordering though, would require changes. First, the company would need to upgrade its technology. Either through outsourcing or internal servers, the company would need to create a website. The website would need to be able to handle the customer traffic without crashing.Also, the website would need to be user-friendly so as not to frustrate and turn away potential customer. Customer support personnel would need to be trained to guide customers with questions about the website. Second, and more important than the actual website, is coordinating orders so that requested goods are shipped to the proper customer. Each order transaction will not be entered by a person. Therefore, all of the information gathered by the website will need to be converted to orders easily understood by warehouse personnel.Is George Gonzales correct in his assessment that this would not be â€Å"business as usual†? Yes. The core functions of the physical locations of the catalog-order business will remain mostly the same as before. They will receive o rders, and ship out goods. However, the methods of obtaining orders, customer feedback, return orders, special orders, and many other less notable but still necessary functions will change drastically. If done properly, it will most likely streamline the business, but the initial transition will be difficult. . Recall that HEI wishes to continue its reputation of high quality and service. Identify key operations management decisions that need to be considered. * Will we receive more/less orders? * If demand increases, can HEI supply the demand? * If demand decreases, can HEI â€Å"weather the storm† until demand rebounds? * What new personnel will be required? * Can current employees be trained? * Do new, more technically-advanced employees need to be hired? * Can stock be reduced and operations made more lean? * Should stock be increased?How different will these decisions be for the Internet business? The major difference will be that with a lot of the web-based area of the business, work will be handled electronically and not in a physical location. This will eliminate the need for large call centers and central records keeping locations. A few servers could hold all the information once held by an entire department such as sales, accounting, customer service, etc. This also changes the focus from managing many low-skilled employees to fewer moderate-to-high-skilled employees. Case 1 chapter 2 CHARTING A COMPANY’S DIRECTION: VISION AND MISSION, OBJECTIVES, AND STRATEGY McGraw-Hill/Irwin Copyright  © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. LO1 Grasp why it is critical for company managers to have a clear strategic vision of where a company needs to head and why. LO2 Understand the importance of setting both strategic and financial objectives. LO3 Understand why the strategic initiatives taken at various organizational levels must be tightly coordinated to achieve companywide performance targets.LO4 Become aware of what a company must do to achieve operating excellence and to execute its strategy proficiently. LO5 Become aware of the role and responsibility of a company’s board of directors in overseeing the strategic management process. 2-2 What Does the Strategy-Making, Strategy-Executing Process Entail? 1. 2. 3. 4. Developing a strategic vision Setting objectives Crafting a strategy Implementing and executing the chosen strat egy 5. Monitoring developments, evaluating performance, and initiating corrective adjustments 2-3 FIGURE 2. 1 The Strategy-Making, Strategy-Executing Process 2-4 TABLE 2. Factors Shaping Decisions in the Strategy-Making, Strategy-Executing Process Internal Considerations Does the company have an appealing customer value proposition? What are the company’s competitively important resources and capabilities and are they potent enough to produce a sustainable competitive advantage? Does the company have sufficient business and competitive strength to seize market opportunities and nullify external threats? Are the company’s prices and costs competitive with those of key rivals? Is the company competitively stronger or weaker than key rivals? External ConsiderationsDoes sticking with the company’s present strategic course present attractive opportunities for growth and profitability? What kind of competitive forces are industry members facing and are they acting to enhance or weaken the company’s prospects for growth and profitability? What factors are driving industry change and what impact on the company’s prospects will they have? How are industry rivals positioned and what strategic moves are they likely to make next? What are the key factors of future competitive success and does the industry offer good prospects for attractive profits for companies possessing those capabilities? 2-5Factors Shaping Strategic Decisions External Considerations What are the industry’s economic characteristics? How strong are the competitive forces at play? What forces are driving change in the industry? What market positions do rivals occupy and what moves are they likely to make next? What are the key factors for future competitive success? What are the company’s external opportunities? 2-6 Factors Shaping Strategic Decisions Internal Considerations How well is the present strategy working? What are the company’s competiti vely valuable resources, capabilities, and internal weaknesses? Are the company’s prices and costs competitive?Is the company competitively stronger or weaker than key rivals? 2-7 Stage 1: Developing a Strategic Vision, a Mission, and Core Values Strategic Vision Is top management’s views about the firm’s direction and future product-market-customer-technology focus Provides a panoramic view of â€Å"where we are going† Is distinctive and specific to a particular organization Avoids use of innocuous uninspiring language that could apply to most any firm Definitively states how the company’s leaders intend to position the firm beyond where it is today 2-8 Characteristics of Effectively Worded Vision Statements GraphicPaints a picture of the kind of firm that management is trying to create Flexible Is not so focused that it makes it difficult to adjust Feasible Is within the realm of what is possible Directional Is forward looking to change Desirable Indicates why the directional path makes sense Focused Is specific enough to provide guidance in decision making Easy to Communicate Can be explained in simple terms 2-9 TABLE 2. 2 Characteristics of Effectively Worded Vision Statements Paints a picture of the kind of company that management is trying to create and the market position(s) the company is striving to stake out.Is forward looking; describes the strategic course that management has charted and the kinds of product-market-customer-technology changes that will help the company prepare for the future. Is specific enough to provide managers with guidance in making decisions and allocating resources. Is not so focused that it makes it difficult for management to adjust to changing circumstances in markets, customer preferences, or technology. Is within the realm of what the company can reasonably expect to achieve. Indicates why the directional path makes good business sense.Is explainable in 5 to 10 minutes and, ideally, ca n be reduced to a simple, memorable â€Å"slogan† Graphic Directional Focused Flexible Feasible Desirable Easy to communicate 2-10 TABLE 2. 3 Common Shortcomings in Company Vision Statements Short on specifics about where the company is headed or what the company is doing to prepare for the future. Doesn’t indicate whether or how management intends to alter the company’s current product-market-customer-technology focus. So all-inclusive that the company could head in most any direction, pursue most any opportunity, or enter most any business.Lacks the power to motivate company personnel or inspire shareholder confidence about the company’s direction. Provides no unique company identity; could apply to firms in any of several industries (including rivals operating in the same market arena). Doesn’t say anything specific about the company’s strategic course beyond the pursuit of such distinctions as being a recognized leader, a global or world wide leader, or the first choice of customers. Vague or incomplete Not forward looking Too broad Bland or uninspiring Not distinctive Too reliant on superlatives 2-11Concepts and Connections 2. 1 Examples of Strategic Visions—How Well Do They Measure Up? 2-12 Concepts and Connections 2. 1 Examples of Strategic Visions—How Well Do They Measure Up? 2-13 Examples of Vision Statements To be the global leader in customer value. Provide a global trading platform where practically anyone can trade practically anything. Red Hat To extend our position as the most trusted Linux and open source provider through a complete range of enterprise software, a powerful Internet platform, and associated support and services. 2-14 Core Concept Strategic Inflection PointsA change in vision is required when it becomes evident to management that the industry has changed in a significant way that renders the company’s current vision obsolete. 2-15 The Importance of Communicating the St rategic Vision An engaging, inspirational vision Challenges and motivates the workforce Articulates a compelling case for â€Å"where we are going and why† Evokes positive support and excitement Arouses a committed organizational effort to move in a common direction 2-16 Expressing the Essence of the Vision in a Slogan Nike To bring innovation and inspiration to every athlete in the world The Mayo ClinicThe best care to every patient every day Greenpeace To halt environmental abuse and promote environmental solutions. 2-17 Why a Sound, Well-Communicated Strategic Vision Matters 1. It crystallizes senior executives’ own views about the firm’s long-term direction. 2. It reduces the risk of rudderless decision making by management at all levels. 3. It is a tool for winning the support of employees to help make the vision a reality. 4. It provides a beacon for lower-level managers in forming departmental missions. 5. It helps an organization prepare for the future. 2-18 Strategic Vision versus Mission StatementA strategic vision concerns a firm’s future business path—â€Å"where we are going† Markets to be pursued Future product/ market/customer/ technology focus The mission statement of a firm focuses on its present business purpose—â€Å"who we are and what we do† Current product and service offerings Customer needs being served 2-19 Developing a Company Mission Statement Ideally, a company mission statement is sufficiently descriptive to: Identify the company’s products or services. Specify the buyer needs it seeks to satisfy. Specify the customer groups or markets it is endeavoring to serve.Specify its approach to pleasing customers. Give the company its own identity. 2-20 Example of a Mission Statement The mission of Trader Joe’s is to give our customers the best food and beverage values that they can find anywhere and to provide them with the information required for informed buying decisi ons. We provide these with a dedication to the highest quality of customer satisfaction delivered with a sense of warmth, friendliness, fun, individual pride, and company spirit. 2-21 Examples of Mission Statements To help people and businesses throughout the world realize their full potential.To organize the world’s information and make it universally accessible and useful. 2-22 Strategic Mission, Vision, and Profit Firms sometimes state that their mission is to simply earn a profit. Profit is the obvious intent of every commercial enterprise. Profit is not â€Å"who we are and what we do. † Profit is more correctly an objective and a result of what a firm does. 2-23 Linking the Strategic Vision and Mission with Company Values CORE CONCEPT A firm’s values are the beliefs, traits, and behavioral norms that the firm’s personnel are expected to display in conducting the firm’s business and pursuing its strategic vision and mission. -24 CONCEPTS & CON NECTIONS 2. 2 ZAPPOS MISSION AND CORE VALUES Deliver Wow through Service Embrace and Drive Change Create Fun and a Little Weirdness Be Adventurous, Creative, and Open Minded Pursue Growth and Learning Build Open and Honest Relationships with Communication Build a Positive Team and Family Spirit Do More with Less Be Passionate and Determined Be Humble 2-25 Stage 2: Setting Objectives Why set objectives? To convert the strategic vision into specific performance targets To create yardsticks to track progress and measure performance Objectives should:Be well-stated (clearly worded) Be challenging, yet achievable in order to stretch the organization to perform at its full potential Be quantifiable (measurable) Contain a specific deadline for achievement 2-26 Core Concept Objectives are an organization’s performance targets—the results management wants to achieve. 2-27 Stage 2: Setting Objectives (cont’d) What Kinds of Objectives to Set Financial objectives Communicat e management’s targets for financial performance Are lagging indicators that reflect the results of past decisions and organizational activities Relate to revenue growth, profitability, and return on investment -28 Stage 2: Setting Objectives (cont’d) What Kinds of Objectives to Set Strategic objectives Are related to a firm’s marketing standing and competitive vitality Are leading indicators of a firm’s future financial performance and business prospects. If achieved, indicate that a firm’s future financial performance will be better than its current or past performance. 2-29 Core Concept The balanced scorecard is a widely used method for combining the use of both strategic and financial objectives, tracking their achievement, and giving management a more complete and balanced view of how well an organization is performing. -30 TABLE 2. 4 The Balanced Scorecard Approach to Performance Measurement Strategic Objectives †¢ Winning an x percent m arket share †¢ Achieving customer satisfaction rates of x percent †¢ †¢ †¢ †¢ Increase percentage of sales coming from new products to x percent Financial Objectives †¢ An x percent increase in annual revenues †¢ Annual increases in earnings per share of x percent †¢ An x percent return on capital employed (ROCE) or shareholder investment (ROE) †¢ Bond and credit ratings of x †¢ Internal cash flows of x to fund new capital investment †¢ Improve information systems capabilities to give frontline managers Achieving a customer defect information in retention rate of x percent x minutes Acquire x number of new †¢ Improve teamwork by customers increasing the number of Introduction of x number projects involving more of new products in the than one business unit next three years to x Reduce product development times to x months 2-31 Examples of Financial ObjectivesX% increase in annual revenues X% increase annually in after-tax p rofits Profit margins of X% X% return on capital employed (ROCE) Sufficient internal cash flows to fund 100% of new capital investment 2-32 Examples of Strategic Objectives Winning an X% market share Achieving a customer retention rate of X% Acquire X number of new customers Reduce product defects to X% Introduction of X number of new products in the next three years Increase employee training to X hours/year Reduce turnover to X% per year 2-33 Examples of Company ObjectivesGeneral Motors Reduce the percentage of automobiles using internal combustion engines through the development of hybrids, range-extended electric vehicles, and hydrogen fuel cell electric engines. Reduce automotive structural costs to benchmark levels of 23% of revenue by 2012 from 34% in 2005. Reduce annual U. S. labor costs by an additional $5 billion by 2011. 2-34 Examples of Company Objectives The Home Depot Be the number one destination for professional contractors. Improve in-stock positions so customers ca n find and buy exactly what they need.Deliver differentiated customer service and the know-how that our customers have come to expect. Repurchase $22. 5 billion of outstanding shares during 2008. Open 55 new stores with 5 store relocations in 2008. 2-35 Short-Term and Long-Term Objectives Short-Term Objectives Targets to be achieved soon Milestones or stair steps for reaching long-range performance Long-Term Objectives Targets to be achieved within 3 to 5 years 2-36 The Need for Objectives at All Organizational Levels Objectives Are Needed at All Levels 1. Set business-level objectives 2.Establish functional-area objectives 3. Set operating-level objectives last Long-term objectives take precedence over short-term objectives 2-37 Stage 3: Crafting a Strategy Crafting a strategy means asking: How to attract and please customers How to compete against rivals How to position the firm in the marketplace and capitalize on attractive opportunities to grow the business How best to respond to changing economic and market conditions How to manage each functional piece of the business How to achieve the firm’s performance targets 2-38A Firm’s Strategy-Making Hierarchy A firm’s strategy is a collection of initiatives undertaken by managers at all levels in the organizational hierarchy Crafting strategy is a collaborative effort that: Involves managers from various levels of the organization Is rarely something only highlevel executives engage in Requires choosing among the various strategic alternatives 2-39 Concept to Action In most firms, crafting strategy is a collaborative team effort that includes managers in various positions and at various organizational levels.Crafting strategy is rarely something only highlevel executives do. 2-40 Concept to Action Corporate strategy establishes an overall game plan for managing a set of businesses in a diversified, multibusiness firm. Business strategy is primarily concerned with strengthening the firm†™s market position and building competitive advantage in a single business company or a single business unit of a diversified multibusiness corporation. 2-41 FIGURE 2. 2 A Company’s Strategy-Making Hierarchy 2-42 Corporate Strategy versus Business StrategyCorporate strategy is orchestrated by the CEO and other senior executives and establishes an overall game plan for managing a set of businesses in a diversified, multibusiness company. Business strategy is primarily concerned with building competitive advantage in a single business unit of a diversified company or strengthening the market position of a nondiversified single business company. 2-43 The Strategy-Making Hierarchy Corporate strategy †¢ Is orchestrated by the CEO and other senior executives and establishes an overall game plan for managing a set of businesses in a diversified, multibusiness company. Addresses the questions of how to capture cross-business synergies, what businesses to hold or divest, which new markets to enter, and how to best enter new markets—by acquisition, creation of a strategic alliance, or through internal development. Business strategy Functional-area strategies †¢ Is primarily concerned with building competitive advantage in a single business unit of a diversified company or strengthening the market position of a nondiversified single business company. Are concerned with the strategies specifically related to particular functions or processes within a business (marketing strategy, production strategy, finance strategy, customer service strategy, product development strategy, and human resources strategy). †¢ Are relatively narrow strategic initiatives and approaches of limited scope for managing key operating units (plants, distribution centers, geographic units) and specific operating activities such as materials purchasing or Internet sales. 2-44 Operating strategies Stage 4: Implementing and Executing the Chosen StrategyManaging the strate gy execution process involves: Staffing the organization to provide needed skills and expertise. Allocating ample resources to activities critical to good strategy execution. Ensuring that policies and procedures facilitate rather than impede effective execution. Installing information and operating systems that enable personnel to perform essential activities. 2-45 Stage 4: Implementing and Executing the Chosen Strategy (con’d) Managing the strategy execution process involves: Pushing for continuous improvement in how value chain activities are performed.Tying rewards and incentives directly to the achievement of performance objectives. Creating a company culture and work climate conducive to successful strategy execution. Exerting the internal leadership needed to propel implementation forward. 2-46 Stage 5: Evaluating Performance and Initiating Corrective Adjustments Triggering change as needed: Monitoring new external developments Evaluating the firm’s progress Mak ing corrective adjustments Managing strategy is an ongoing process, not an every-now-and-then task A firm’s vision, objectives, strategy, and approach to strategy execution are never final -47 Corporate Governance: The Role of the Board Of Directors The Role of the Board Of Directors in the StrategyMaking, Strategy-Executing Process: 1. Oversee the firm’s financial accounting and reporting practices. 2. Diligently critique and oversee the company’s direction, strategy, and business approaches. 3. Evaluate the caliber of senior executives’ strategy-making and strategy-executing skills. 4. Institute a compensation plan for top executives that rewards them for actions and results that serve shareholder interests. 2-48 Strong Boards Lead to Good Corporate GovernanceA Strong, Independent Board of Directors: Is well informed about the company’s performance Guides and judges the CEO and other top executives Has the courage to curb management actions it be lieves are inappropriate or unduly risky Certifies to shareholders that the CEO is doing what the board expects Provides insight and advice to management Is intensely involved in debating the pros and cons of key decisions and actions 2-49 Leading the Strategic Management Process The Strategic Management Process calls for six managerial actions: 1.Making sure the company has a good strategic plan 2. Stay on top of what is happening (MBWA) 3. Putting constructive pressure on organizational units to achieve good results 2-50 Leading the Strategic Management Process (cont’d) The Strategic Management Process calls for six managerial actions: 4. Pushing corrective actions to improve both the firm’s strategy and how well it is being executed 5. Leading the development of better competitive capabilities 6. Displaying ethical integrity and leading social responsibility initiatives 2-51 Making Sure a Firm Has a Good Strategic PlanResponsibility of CEO Effectively communicate th e vision, objectives, and major strategy components Exercise due diligence in reviewing lower-level strategies for consistency with higher-level strategies 2-52 Staying on Top of How Well Things Are Going Stay connected to the field by managing by walking around (MBWA) Insist that top managers spend time in the trenches to exchange information and ideas through face-to-face contact with employees Prevent overly abstract thinking and getting disconnected with reality of what’s happening 2-53Pushing for Good Results and Operating Excellence Fosters a results–oriented, high-performance culture Treat employees with dignity and respect Encourage employees to use initiative and creativity in performing their work Set stretch objectives and clearly communicate expectations Focus attention on continuous improvement Reward high performance Celebrate successes 2-54 Initiating Corrective Actions to Improve Strategy and Execution The leadership challenge of making corrective adjus tments is twofold: Deciding when adjustments are needed Deciding what adjustments to makeLeader’s responsibility is to step forward and push corrective actions 2-55 Leading Social Responsibility The strength of management commitment determines whether a company will implement and execute a full-fledged strategy of social responsibility that: That protects the environment Actively participates in community affairs Supports charitable causes Supports workforce diversity and the overall well-being of employees 2-56 Displaying Ethical Integrity The CEO and other senior executives must set an excellent example in their own ethical behavior.Top management must declare unequivocal support of the company’s ethical code. Top management must be prepared to act swiftly and decisively in punishing ethical misconduct. 2-57 Leading the Development of Better Competitive Capabilities Lead efforts to strengthen existing competitive capabilities Anticipate changes in customer-market req uirements Proactively build new competencies and capabilities that hold promise for building an enduring competitive edge 2-58