BAA Strategic Management Issues Essay Example

BAA Strategic Management Issues Essay Example BAA Strategic Management Issues Essay BAA Strategic Management Issues Essay BAA Strategic Management Issues BY Elodte7788 1. Introduction The following report has been undertaken to evaluate the strategic management issues concerned with the British Airport Authority (BAA). Strategic management is concerned with the overall direction of the whole organization. (Finlay, 2000). With the aid of a provided case study the strategies which are currently in place have been recognized and evaluated and the evidence has been used along with research carried out in textbooks and online Journals and the internet. The models provided by strategic management theorists have enabled possible future strategies to be valuated by showing a range of strategic options and how they will be best suited to a large organization in their industry. The report has been split into subsections due to the complex nature of BAAS operations and because of the many different internal and external factors which can affect the organization. The first section of this report gives a general introduction to the BAA company with an evaluation of their mission statement and the various stakeholders involved. The second section concentrates on an internal evaluation of the environment and identifies the strengths and eaknesses of the organization. The corporate culture is outlined and the resources are analysed by evaluating the company against models such as Porters Value Chain and the Cultural Web. Once an internal analysis has been carried out it is necessary to undertake an external analysis which constitutes the next section of this report. An external analysis is concerned with the environment in which BAA is operating, and therefore it is inevitable that the airline industry as a whole is evaluated. Porters five forces are used to analyse the competitive environment and the industry life cycle is valuated in order to help suggest possible strategies to keep the organization from going stagnant. The final section of the report looks at developing strategies and the problems associated with implementing these strategies. SAF analysis is used and proven to be a vital way of developing effective strategies. Issues of control are also examined. 2. Purpose of the organization 2. 1. Mission evaluation A majority 0T Duslnesses essentlally use an organlsatlonal vlslon ana mlsslon to establish the general direction of the firm with organizational objectives focused to define more specific targets. It seems that it may be too complicated for BAA to draw up a mission statement as need get all their stakeholders together, besides they also do not know what the future holds. The fact that there is no mission statement enables things to be more flexible and also can be changed. The downside however would be critical. Ferrovial the key major stakeholders could be considered as the highest players in this organization, yet BAA tends to be moving on regardless not it cannot be static. BAAS values are considered in terms of how the organization is run and include: To assess environmental impact on surrounding communities To provide a health and safety environment To achieve excellent value for their stakeholders and passengers To assess economic benefits and create employment for the local communities To inspire their team, encourage teamwork, sharing learning and open communication BAA continue to state that the way in which the organization run is much more than Just simply hitting targets and profit margins and it has certain responsibilities to society that they take very seriously suggesting each our their directors, employees and suppliers strive to meet its core commitments. . 2. Stakeholder analysis Stakeholders are those individuals or groups who depend on an organization to fulfil their own goals and on whom, in turn, the organization depends. Oohnson, etc. , 2006) It is important to understand expectation of all groups in detail, and how they are likely to seek influence over an organizations mission and strategies. Oohnson, etc. , 2006) Stakeholder mapping could be used to identify stakeh older expectations and power. It underlines the importance of two issues: how interested each stakeholder group is to impress its expectations on the organizations purpose and choice of pecific strategies, whether stakeholders have the power to do so. Oohnson, etc. , 2006) Figure 2. 1 The power/interest matrix The figure 2. 1 power/interest matrix shows managers and major shareholders are key players, have both high power and high level of interest. Employees, local communities, minor shareholders are keep informed groups, suppliers, media and aircraft manufacturers are keep satisfied. 2. 3. Corporate Social Responsibility Corporate social responsibility is identified as a concept whereby companies iintegrate social and environmental concerns in their business operations and in their nteraction with their stakeholders on a voluntary basis by Green Paper presented by European Commission in July 2001. (Cited in Hooley, etc. 2008) Strength in corporate social responsibility may bring competitive advantage. ( Branco Rodrigues, 2006, cited in Hooley, etc. ,2008) Questions of social responsibility are increasingly significant, posing both risks and opportunities. 3. Internal envlronment analysis 3. 1 . Resource Analysis When assessing BAAS overall situation, the identification of the strengths and weaknesses its internal environment was an important element. The functional area f the organization was considered when auditing the resources, as this is where resources become deployable. In terms of its Physical resources BAA currently own and operate seven I-JK airports and also have stakes in eleven airports outside the I-JK. With air travel demand now forecast to double, the company plan to invest E8 billion in South-east airports, E500 million in Scottish airports and include a fifth terminal for Heathrow, yet owe E7. billion in debt and are facing a credit crunch, so in terms of Financial resources they have none. The Intangible resources could nclude reputation through brands such as popular airports, established relationships with travellers as are surveying 70,000 passengers to get views each year and also the local community. BAA also has a reputation of its products and serv ices the firm own, for example retailers, world duty-free, and other luxury brands they own. Ferrovial is one of the worlds leading construction groups who specialise in four strategic lines of business, Airport, Construction, Transport infrastructure and Services. Through its subsidiary Cintra, Ferrovial also specialise in the construction nd construction of 20 toll road concessions around the world and are also experience to manage around 250000 car parking spaces. The Civil Aviation Authority (CAA) control all flight paths and aircraft routes at UK airports, regulates airlines, airports and National Air Traffic Service whereby it could be considered BAA has established relationships with these organizations. BAA also has an established relationship with the government and a good reputation as the year 1986 saw the Airports Act being passed, authority dissolve as all its property rights and liabilities were passed to them. In terms of assessing Human resources BAA has specialist knowledge of the unique airport environment that allows them to successfully iintegrate retailing in an balanced, yet BAA has no established culture and with a current clash of culture between Ferrovial and BAA could be the result of the its recent departures. As result human capital may be affected such as the assessment of skills, knowledge, and decision making abilities, training and expertise of employees, adaptability of employees therefore could affect the level of commitment and loyalty. The revenues from commercial activities in retailing account for a ignificant proportion of its total revenue, helping BAA maintain some of the competitive charges faced with. The intangible resources over time may become more important than the tangible as they can be the main source for competitive advantage an example of this may be ensuring a good reputation of its products and services are maintained. . 2. Porters Value Chain When examining the internal environment of BAA it is useful to use Porters Generic Value Chain (1985). When Porter uses the term Value its meaning can be defined as follows; Value is measured by the total revenue, a reflection of the price a firms product ommands and the units it can sell. A firm is profitable if the value it commands exceeds the costs involved in creating the product. (Cole, 1997). Figure (3. 1) below shows Porters Generic Value Chain taken from Cole, 1997 and as can be seen it shows that it splits the organization into five different operations, which are categorised as primary activities. In terms of an organization such as BAA inbound logistics will be the receiving of goods for sale in their retail outlets, bars and restaurants within the airports owned by BAA, and it is possible to count the input of assengers into the airports, as the airports are where these activities take place. Operations are the activities which occur within the airports and for BAA this will include check in, security, retail, and passport control. The best way to regard outbound logistics for BAA is the successful movement of passengers through the airport and onto their designated flights with the minimum of delays. Marketing and sales concerns the different operations and services provided by BAA and the different ways in which the products and services can be purchased and inducing the customer to do so. Cole, 1997). The service section can be described as, the activities associated with providing service to enhance or maintain the value of the product. ( Porter, 1985). There are linkages between the activities and they are not isolated from one another. One aactivity often affects the cost or performance of other ones. (Lecture notes, lecture 4). The support activities which are shown going vertically on the top part of the model are self explanatory, except for the term procurement, which in this model can be regarded as the purchasing function. Figure 3. 1 Porters Generic Value Chain The BAA case study reveals that; BAA is a complex company and much of our work is done in partnership with other businesses and organizations. This has to be taken into consideration when assessing the company using Porters Value Chain. A list of services to be iincluded under BAAS control include: Airlines. These are other organizations and would probably be best categorised in both the inbound and outbound logistics sections as they are inputs into the organization and also help carry passengers out of the airports once they have experienced the services on offer. Civil Aviation Authority. A ital part of the operation including safety measures which are a primary concern in every organization within the aviation industry, especially in todays climate. Commercial services. Such as catering, shopping, car hire and banking services. These are operations which are not outsourced and are therefore profitable and add value to the organization. A customer can prepare for his travel within the airport allowing convenience and this adds value to the customers perception of the experience. Immigration National Air Traffic services. Public transport operator. These are extremely beneficial partnerships as they rovide customers with easy access into BAAS airports and help produce the infrastructure, thus creating great value to the organization. For BAA, the primary activities are well coordinated between them (infrastructure, operation, outbound, marketing ana sales, servlces) ana contrlDute to tne Important actlvlty 0T Its airports However the new security measures causing flight delays and long waiting time queues can represent an obstacle for the outbound. Another cause of flight delays and waiting time can also be accredited to the size of infrastructure too small for handling an increasing number of passengers. The infrastructure has been affected by the management of Ferrovial. English managers left since the takeover of Ferrovial. Also the debt of Ferrovial has lead to reduce the effective of its employees touching the human resources management. However value can be added in technology development and procurement. The procurement of extra security equipment can help to overcome the problems of delays and waiting time, and therefore improve the operations of BAA. 3. 3. cultural web The cultural web identifies 6 inter related elements that help to make up what Johnson and Scholes call the paradigm of the work environment. BAA has no established culture. However BAA should be also confronted with Ferrovial since this last one can have influence on the company. Since the takeover, BAA is under a strict control. This has provoked some clash and English managers dissatisfied with the new rules of Ferrovial, left. Also the debt of the company has lead to redundancies within the company and Ferrovial is accused to be only cost driven. The group is not popular with the media either. There is evidence that BAA is reluctant to the new management of Ferrovial and in the paradigm we can therefore mention a clash of cultures. Figure 3. 2 Culture Web Figure 3. 2 Culture Web helps to identify the strengths and weaknesses of a company. It can make realise that sometimes corporate culture can be elusive: the intentions of a company are different from the reality. The cultural web can be used to correct this gap by taking each element aside and compare after the reality with what the company wants as for its culture. Henceforth, the company knows more precisely what aspects need to be changed. For BAA, there is some evidence showing a gap between strategic intent and reality. For example in the statement, BAA says it is ital that we engage our stakeholders in open and honest discussion implying that they have good relations with them. However, more recently the relations with stakeholders have been affected especially with the media, politicians and regulators. Most of companys statements are too idealised. It is not really about what people (employees or customers) experience daily and does not really consider the real values and practices of the company. What can be questioned in the cultural web is the control. Ferrovial imposed its rules without adapting to the English market. This ffected the relations with shareholders and the management structure of BAA as English managers left. It was in the interest of Ferrovial to keep these managers as they had more experience of running a company like BAA and knew the English market better. A strategy more appropriate for the company would have been to adopt a participative leadership (Likert, 1961). It mearns for the company working in cooperation with its employees by taking account of their ideas and suggestions. Even if at the end the company makes the decisions, they remain open to new ideas. 34 cultural lypes Another important and useful way of analysing the internal sectors of the organization is to look at the cultural types that exist within BAA as an organization. In order to do this the report looks at three different models. Firstly, BAAS strategies will be compared against the Miesling and Wolfe model (1989), and this is shown below in figure (3. 2). Figure 3. 2. The Miesling and Wolfe Model. On the model above two crosses have been plotted. The first cross at the bottom of the model marked BAA indicates what the authors believe where BAA would put themselves with known cause and effect relationships and a dynamic approach to nvironmental change. However, it is thought that the environmental change will be more stable than BAA would portray themselves. This is because any reduction in carbon dioxide emissions will easily be outweighed by the annual increase in air travel through their airports. It is also going to have to expand into green environments for their expansions such as terminal 5 at Heathrow. Therefore, the second cross, which lies in the computational planning style/analytical decision making indicates a more realistic position for them to lie. Greenley (1989), describes a computational style as; based on an ideal model of planning using a rational pproach, where perfect knowledge of the environment leads to an analysis which can result in decision making which is devoid of irrational behavior. It assumes a long-term rationale of profit maximisation and assumes that the personal aims of managers coincide with company objectives. Greenley, 1989). The second model to be used is a more simplistic approach to cultural types within an organization and is illustrated below in figure (3. 3). Figure 3. 3. Classification of generic cultures, Deal and Kennedy (1982). Once again the same principal has been used where two crosses have been plotted onto the chart. This model is done by analysing the degree of risk the organization is willing to take against the speed of feedback give n to the company. The cross labelled BAA is where the authors believe BAA would put themselves, but the cross in the process culture is the more likely position with a slower speed of feedback and a lower degree of risk taken than BAA would make out. The result of this model, the process culture seems to be ssimilar to the results of the Miesling and Wolfe model, which showed analytical decision making. The last model to be used is the Miles and Snow (1978) who identify hree dominant organizational cultures; The defender culture which view change as threatening, this is not possible in the airline industry as changes happen rapidly. BAA has also shown evidence that they are prepared for change with the implementation of new technology and the expansions in progress. Therefore, the defender culture can be discounted. Prospector cultures thrive on change with flexibility in management. BAA does not show much evidence of flexible management and therefore leaves the last culture, which is the analyser culure, which matches the results of the other two models used. Miles and Snow (1978) describe the analyser culture as those that seek steady growth in the market through very detailed planning and control systems. (Lecture 3) 4 External Environment Analysis Analysis of the operating environment helps to identify current and potential strategic position. The macro-environment analysis consists of broad environment factors that impact on all organizations, which provided by the PEST framework to identify. Then the five forces framework would be used to understand how the competitive dynamics within and around an industr y are changing. 4. 1 . PEST Model It is important to build up an understanding of how changes in the macro- environment are likely to impact on individual organization. Oohnson, etc. 2006) The PEST framework would be used to identify how future trends in the political, economic, social and technological environments might impinge on BAA. It helps managers consider how strategies might need to change depending on the different ways in which the business environment might change. There is PEST analysis as following which show some of the main factors influence the organization. These factors are not independent of each other, may are linked. Political Air Transport white paper in December 2003 and Follow-up report in 2006 by the government set out the UKs ppolicy for sustainable aviation industry. Air transport portal of the European Commission adopted a communication in September 2005 setting a strategy for reducing the climate change impact of aviation. EIJ Emissions Trading Scheme introduces the policies across Europe to tackle emissions of carbon dioxide and other greenhouse gases. The new ELI-US Air Transport Agreement takes effect on 30 March 2008. European airlines can fly without restrictions from any point in the EIJ to any point in the US. This ppolicy will bring more competition, but also security and environment issues. Economic factors In 2001, aviation contributed ‚Â ¬13 billion to I-JK GDP which is 2% of total GDP. The UK aviation industry directly employs about 200,000 people. Aviations provision of transport infrastructure on which many other parts of the economy depend. Airlines and airports invest around ‚Â ¬2. 5 billion a year. Socio-cultural factors There is more travelling by flight nowadays on both leisure and business purpose. Aviation has now replace shipping as the primary mearns of transport for high-value, nternationally competitive goods and services. Technological factors Governments Transport White Paper in July 1998 clears out the future technology will take-up in the I-JK. Technologies predicted to enter service before 2030 with developments in the 5 to 10 years time period and potential to substantially enhance capacity and mitigate environmental impact. Technological advance will be fundamental to introducing substantial capacity improvements, such as Wake Vortex technologies, sophisticated management systems and data link technologies Training of Aircraft Maintenance Engineers trained aircraft maintenance engineers to meet he needs. New aircraft A-380 reduces noise, only as 25% of 747 competltlve envlronment o e P rt rs Hve Forces This tool was created by Harvard Business School professor, Michael Porter, to analyze the attractiveness and likely-profitability of an industry. Since publication, it has become one of the most important business strategy tools. Buyers Buyers are the customers of BAA, including passengers, airlines, retailers and other tenants. As BAA is dominant in the I-JK market, Buyers have limited choice for other supply sources. Also BAA is an international company meaning that they are dealing ith passengers from all over the world. Therefore Buyers are not Just located on one place, they are not concentrated. This aspect limits the power of Buyers. Substitutes Substitutes for BAA are the other airport companies in I-JK, Manchester Airport Group, Abertis, Peel Airports. Substitutes are not a real threat for BAA. BAA deals with 147,6 million passengers and the second bigger group coming after BAA, which is Manchester Airport Group deals only with 28,3 million of passengers. These figures show the dominance of BAA. Suppliers Suppliers include retail suppliers, equipment suppliers and construction suppliers. Not enough information was provided on the suppliers. Services from suppliers should be really in demand from BAA, as they have an important aactivity and they generally invest huge amounts in construction but also in security. Threats of entrants To enter this market, an industry needs huge capital requirements. Therefore economies of scale are extremely important as a company needs to spread the cost over the market. As well, government policies do not facilitate the entrance to the market as they already restrict airports expansion for existing companies. This market is subject to strict regulations. Competitive rivalry This can be a synthesis of the previous aspects seen before. There are high barriers to entry the market. As well the power of buyers, suppliers and substitutes are limited. Competition between carriers will intensify across the Atlantic as US and European airlines open now, unrestricted, routes. BAA is not subject of real competition as they dominate the market and their dominance in the market is now being questioned by the OFT (Office of Fair Trade) as passengers will not benefit from lower charges and the potential benefits of the Open Skies agreement will be iminished. . 3. Industry Life Cycles Industry life cycles comprising four phases of an industry, which are introduction, growth, maturity and decline. (Haberberg Rieple, 2001) The authors point out the industry life cycle is a simplification of reality that glosses over a lot of exceptions. Figure 4. 3 Industry life cycles Figure 4. 3 shows the aviation industry is in the growth phase, when the industry becomes established and the number of firms and sales of the product grow rapidly. There may be some improvements in the industry and in the process technology used. In the growth phase, there are still enough customers to go around, so competition is unlikely to be fierce. 4. 4. Evaluation of opportunities and threats Evaluation of opportunities and threats is the final stage of external audit. The key opportunltles Include: Growth of aviation industry and growth of airport capacity provide development capacity. New technologies, such as new aircraft could reduce noise. Potential new market outside the UK The key treats include: Capacity However, expedition of Heathrow airport also is a treat, more capacity mearns more difficult on operation, required experiences staff. Security issue is still one of major problems for BAA in the future. Environment issue is another threat for BAA, limit environment effect is the )Â ¤flrms social responsibility. Figure 4. 4 below shows classifying the opportunities using measures of probability and internal capability. New technology in quadrant Exploit with maximum interest, both potential international market and growth of industry are in quadrant Investigate, with great potential for BAA, but low internal capability, which mearns further investigation. Figure 4. Evaluation of opportunities Figure 4. 5 shows the evaluation of threats. Two major threats in quadrant Prepared, BAA has greater capability to deal with such probable threats, thus are prepared. Environment issues is in quadrant Monitor, that is more uncertain, although this threat are currently unlikely, it may became so in future and thus BAA must monitor it. Figure 4. 5 Evaluation of threats The aviation industry is facing significant technical and pr actical capacity constraints and due to long-term nature has been slow to address these. Environmental and security issues are exerting sthrong pressures on the industry and its ability to grow. 5. Developing and implementing strategy 5. 1 . Recommend future strategies and evaluation of strategies The Anoff product/ market growth matrix (figure 5. 1) provides a simple way of generating four basic alternative directions for strategic development. It explicitly considers growth options. Product development and market development could be the two better way for BAA future strategy. Figure 5. Anoff product/market growth matrix BAAS existing strategy of airport development may now well be broken. The plans over the next 10 years airport expansion, however The Competition commission are ow deciding whether their dominance of the market translates into distortion of the market, or wnetner proper long-term planning can De aellverea Dy a large, staDle, well regulated group. Britains Office of Fair Trading (OFT) argues that the competition between airports is much more critical at the moment, as they believe the barriers to entry that hamper the market. There were factors taken into account when selecting a strategic route forward for BAA in terms of its Suitability, Acceptability and Feasibility and tools and approaches were also used to help select the correct strategic group. 5. 1 . 1. Development of Airports Suitability Suitability is concerned with whether a strategy addresses the key issue relating to the strategic position of the organization. BAAS plan for airport expansion over the next ten years is appropriate to the product life cycle and the relative position of the firm within its competitive environment. Reasons for this include the fact that their in a dominant competitive position and are in in an industry that is in the growth stage. BAA is also sthrong in terms of its competitive position as are able to attain cost leadership and are able to be defended. The proposed strategy of airport expansion ill eventually generate more passengers that will allow an increase consumer spending, for example, retail accommodation. The organization is prepared to handle capacity in terms of no. of passengers, therefore service quality should improve, which in turn may create a demand for airport usage by airline companies. The reinforced linkages in the (internal) value chain from the strategy of airport expansion will create an oopportunity to improve its competitive position and boosts the linkages in the value chain, so could allow them to increase prices in its products as overall passenger service should provide value for money. Acceptability Airport expansion is likely to satisfy key stakeholders, for example, shareholders, employees, managers, customers, however may have an effect on local communities, pressure groups. The fact that there is a credit crunch is not going to eliminate any financial risk to the company and due to such developments there is no guarantee of their being service quality as reasons for this may include BAAS human capital not being used to its full advantage to enable retailing to be iintegrated in a balanced way that supports efficient airport operations, enhances the travellers experience and ake the most of the commercial opportunities available. Feasibility BAA has an experienced security and fire service yet there is no established culture which may affect its human capital as may not be able to enable iintegrated retailing in a balanced way that supports efficient airport operations. As a result it could affect the assessment of skills, knowledge, and decision making abilities, training and expertise of its employees, adaptability of employees therefore could affect the level of commitment and loyalty therefore may not have the resources required to sustain n competitive advantage.

Social media Research Paper Example | Topics and Well Written Essays - 500 words - 1

Social media - Research Paper Example The selection of Facebook as a social media marketing tool is influenced by the fact that the site offers a massive market that could be utilized. The site has been in existence since 2004, making it the oldest significant social media network to date. The number of users has surpassed the 1 billion globally. This provides a massive business opportunity in regards to market reach. In an argument by Ray (2013) the use of Facebook as a marketing tool provides a business with a massive and significant market population. The author further asserts that the market concentration at one place makes marketing simpler (Ray, 2013). These forecasts have been reflected in the family business. On a daily business, our Facebook page is viewed by at least 15 people. This depicts the effectiveness and simplicity of using Facebook as a marketing tool. In addition, out of the 15 views, five people contact us on the availability and description of our products. The trend has significantly increased the size of the target market and consumer population. From the site, we are able to acquire consumer feedback on how we could improve our marketing approaches as well product and service quality. Consumer often feel friendly enough to develop personal interactions. To understand the effectiveness of Facebook in business, one should understand the prevalence of its usage. Firstly, the social network has an estimated 700 million active users) (iMarketing Factory, 2011. From the population, each active user spends an estimated time of 50 minutes daily in the social network site (iMarketing Factory, 2011). Moreover, the active Facebook user has an average of 130 friends. Consequently, their interactions would be visible to more people. From a business point of view, this is a massive opportunity for brand education and development. This exceptional opportunity is not emulated by any other marketing approach (Ray, 2013). To capitalize on the opportunity, my family

LAW OF BUSINESS ORGANISATIONS Essay Example | Topics and Well Written Essays - 2500 words

LAW OF BUSINESS ORGANISATIONS - Essay Example The principals hand over the running of the corporate body to the management with the aim of benefiting from professional management of such corporate body. The agency theory offers many views of this relationship, as well as prepositions on how this relationship can be nursed in order to benefit the principals. The subject of this essay is to examine the ways in which agency cost theory has influenced company law and corporate governance reform. AGENCY THEORY The Problem to be Uprooted The concerns that the agency theory raises were first raised by Adam Smith. Smith noted that when a business unit grows into a level at which its management is handed over to other members who are not owners, the running of such a business will not be optimized. The new people who are responsible for managing the business lack an equivalent commitment as the owners. This particularly rises because of conflict of interests. Conflict of interests comes up because the agents will want to maximise their b enefits at the lowest efforts while the principals will want to incur the least expenses but with maximum input from the agents to that the principals’ benefits are maximized.1 These concerns were revisited by other scholars, for instance, Berle and Means, but were fortified by the efforts of Jensen and Meckling.2 Jensen and Meckling clearly explained the conflict of interest that often comes up in the delegation of duties by the principals to the agents. They called it the agency problem. They observed that because agents do not own the business unit they are running, there are likely chances that they will commit ‘moral hazards’. Moral hazards in this context are actions that benefit the agents but at the expense of the business unit or rather the business unit owners. Such actions as shirking duties to attend to personal matters arise when non owners of a business start running it. Such actions are clearly not in the best interest of the principals.3 In order to solve the agency problem, two suggestions were made. One was that the delegation of duties and that the relationship between principal and agent must be designed in a manner that will uphold efficiency. The second suggestion made was that there has to be an effective means of monitoring the agents. Jensen clarified that in the first suggestion, there has to be consensus on the amount of rights that the principals will transfer to the agents. The agents have to be allowed enough rights to allow them execute their duties as pertains to those rights but they should not be too much to the extent of undermining the principals’ rights. And in the second suggestion a mechanism is created that will monitor the agents to ensure that what is agreed in the first suggestion is being adhered to – that is, the agents do not overstep their mandate. Thus from the very outset, the agency theory is all about corporate governance and company law. Putting up structures to enable agents manage a corporate body in a certain way that the principals wants is actually influencing how corporate governance is undertaken.4 It is clear that even though principals invite agents to run their business for efficiency purpose due to the professional skills that these agents have, the agents to some extent are not likely to work as hard as the principals would have worked if they had the skills that the agents possess. It therefore becomes inevitable that the corporate body will lose some value due to the change

Breakfast at Tiffanys Essay Example for Free

Breakfast at Tiffanys Essay The movie begins appropriately with the lead Holly Goligthly having breakfast outside of Tiffany’s in New York and already that sets the tone of the whole movie. She’s dressed in a black Givenchy dress and her hair resembles something of a pineapple. She is looking in to the store and we see her perfectly polished reflection in the well-polished windows. Appropriately I say, since the title says just that, Breakfast at Tiffany’s. Even though is seems unimportant, just a title, Tiffany’s plays a central role throughout the movie but not just as a location for several of the scenes. It represents everything Holly wants and doesn’t seem able to get or allow herself to want. Holly as a character is a very intriguing creature. Her quirkiness and seemingly free-spirit leaves me wanting to emulate her, doing my hair and make-up in the same way and act like she does. It’s not until the middle of the movie when I realize that under that perfect exterior lays a very broken and confused spirit. The ideas of the perfect and glamorous feel of Tiffany’s are nouns Holly tries to apply to herself. The presumed shallowness of the sales people and the expensive merchandise makes me understand that for her, money and the played identity of Holly Golightly, controls her life. It leaves me with a sense of longing to understand this complex personality and question was lies beneath the surface. It becomes clearer throughout the film that even though it seems very shallow there is a compassion and depth to Holly and so also to Tiffany’s. One of my favorite scenes that clearly represent this is when Holly and Paul Varjak spend a day doing things they have never done before and end up at Tiffany’s. Due to the censorship of the time, the movie was released in 1961, it is never outspoken, but definitely clear what lengths both Holly and Paul, will go for money. In this scene money is not the focus, and the ring from the Kracker Jacks becomes a representation of the humanity in not only Holly but Tiffany’s and even the city of New York. Every decision the director has made in this film is very carefully selected, and even though the details are very subtle at first glance, they all support the idea I believe the film is trying to portray. New York as the big, glamorous city where wealth and beauty seem like a commodity. The belief that anybody can pretend to be what they want, or in Holly’s case, hide what they are. Every detail becomes important. Holly dressing almost exclusively in black but when she thinks she has finally gotten what she want, knits a red dress. Her empty apartment that in that same moment gets decorated and the only reason we know it’s not real is because the cat still has no name. There are so many different layers to this film and I guess that is why it has become a classic. Every time you see it you discover new details or change your mind about the mysterious and ever changing Holly.

empiricism Essay -- essays research papers

Empiricism Empiricism by nature is the belief that there is no knowledge without experience. How can one know what something tastes like if they have never tasted it? For example, would someone know that an apple is red if they have never actually have seen one. Someone can tell you an apple is red, but, if you never have seen one, can you really be sure? Empiricists use three anchor points in which they derive their opinions from. The first of these points is; the only source of genuine knowledge is sense experience. An easier way to understand this is to compare the mind to a clean sponge. As the sponge touches things, it takes with it, a piece of everything it touches. Without this, the sponge would remain clean and be void of anything other than its own material. With this conclusion, empiricist believes we must be content with the knowledge we have at hand, rather than things we have not yet been privy to. The second anchor point is; Reason is an unreliable and inadequate route to knowledge unless it is grounded in the solid bedrock of sense experience. Empiricists believe that all of our words meanings are derived from our experiences. Everything can be traced back to a single moment in our lives. Empiricists understand that reason is necessary in helping us make our experience intelligible, but reason alone cannot provide knowledge. The third anchor point is; there is no evidence of innate Ideas within the mind that are known apart from experience. What this means is the mind does not possess ideas that are not backed by experience. In no case are there a priori truths that can both tell about the world and are known apart from experience. When asked the three epistemological questions the three empiricists all have different answers. The first of these questions is; is knowledge possible? John Locke (1632-1704) states â€Å"Knowledge, however, is not something lying out there in the grass; it is located in our minds. So to understand knowledge we have to analyze the contents of our minds and see what they tell us about the world† (pg. 93). Locke believes that all of our known truths are made up of simple ideas. Simple ideas are what make up the rudimental elements of everything else we know to be true to us today. For example, they consist of ideas such, hot and cold, soft and hard, bitter and sweet. They also give us experience through are own mental o... ...s not possible for our knowledge to truly represent what reality really is. He believes that â€Å"the only certainty that we can have concerns the relationships of our own ideas. Since these judgments only concern the realm of ideas, they do not tell us about the external world† (p. 108). This means that any knowledge about reality must be based on a posteriori judgments. These judgments are made by Hume because he believes there is no way to have a true reality through knowledge because you only gain knowledge through experience. In conclusion, Hume states that many empiricists discovered that reality is an impossible goal to understand. Overall, Empiricists believe that there is no knowledge without experience. While their individual views may differ, their fundamental ideas are used to make conclusions about theories in the world. Each of these men have ideas about how knowledge is used and what it creates for each person. Through each of these theories it is apparent that knowledge and reality are difficult to access in such a complicated world. References Lawhead, William F., The Philosophical Journey: An Interactive Approach, Second Edition. McGraw-Hill, 2003.

Cyber Bullying Essay

Cyber bullying has become an increasing issue in the last few years in the United States. The reason why this type of bulling is the worst because the bully could come from someone anonymous as well as it could come from any place and at any time. As a result, the victim that is being bullied will suffer some short and long term problems such as: mistrusting of others, anxiety, depression, poor performance at school, and can result in suicide. Due to the increasing number of teenagers being cyber bullied, it should be a criminal, punishable offense in the United States in order to protect the Nation’s children and teenagers. What is Cyber Bullying? In the rapid development in technology, there have been some issues that have come to light about the use of these products in the hands of adolescences. It has been found through some research that cyber bullying is a new form of violent behavior (Bendixen, Endresen, and Olweus, 2003). Cyber bullying behavior is described as violent behavior that is against an individual or group that is demonstrated through the usage of internet and mobile phones (Vandebsch and Cleemput, 2008). This type of violent behavior includes an individual hacking onto another individual’s personal website, leaking out damaging information through the use of communication technology such as: mobile phone, email, and sending messages. The Effects of Cyber Bullying Although cyber bullying does not occur in person, it can still have the same emotional and psychological effects of regular bullying. A child that has been bullied/cyber bullying more than likely to experience loneliness, unhappiness, anxiety, depression, and problems sleeping (Keith & Martin, 2005). Many times the effects of bullying often go unnoticed due to the fact the victim feels embarrassed and/or afraid the bullying will continue. Often times, the victim tends to act anxious, less confident, and become very quiet in class (Keith & Martin, 2005). As a result, the child has a significant hurdle in their development and it also can be a hindrance in their academic success. They have a fear that anything they put on any social site may be used against them by individual they know or don’t know. Punishing Cyber Bullying Cyber bullying has become a serious widespread problem that has become more savage than a schoolyard bullying (Vandebsch & Cleemput, 2008). The adolescents lack the maturity to understand the consequences of their actions and feel that it is okay to retaliate without being caught (Vandebsch & Cleemput, 2008). The increase stories of tragedies where children being bullied over social media sites have also increased in awareness. Stories such as Amanda Todd are coming out more and more in which the child has been bullied and the child commits suicide. Such tragic stories and nothing was ever done to the bullies or the bully was never found. As a result to the recent deaths of these children that have been bullied, many parents have pushed the government officials to do something and to criminalize cyber bullying. Amanda Todd’s mother is one that has established the Amanda Todd Trust Fund in which the donations is used to support and educate anti-bullying awareness. Many states like California has a law that makes it a misdemeanor to impersonate anyone through the web on social sites with the intent to threaten, harm, or intimidate other individuals (U. S. Department of Health and Human Services, 2013). It is very difficult to make cyber bullying a federal crime in which the bullied committed suicide. The legal system is built to where the punishment fits the crime. Although cyber bullying does have its consequences and some cases do end in suicide we as a society, we must find a way to punish those that commit these crimes. Conclusion There are many different ways in how they’re exposed to the harsh life lessons of this world from predators to scam artists. Cyber bullying has come to light and it has many parents worried. One thing is for sure, it’s important for parents to be aware and learn how to navigate social media in order to help their children avoid cyber bullying and to be safe. The reason is that in the adolescence’s life, the most important stage is the period in where they develop relationships among their peers. They become more aware f issues in trying to have a place in their social world. This has a huge effect on their psychological development. Therefore, if adolescence has a positive relationship will lead to them having a successful identity and live in harmony with society (Sahin, Aydin, & Sari, 2012). On the other hand, if the adolescence has a negative relationship such as bullying from their peers will harm their emotional, social, and psychological development (Sahin, Aydin, & Sari, 2012). Therefore, as a society we should try the punishment that fits the crime.

Essay on Pros and Cons of Legalizing Marijuana - 557 Words

The legalization of marijuana is a very debatable subject, some people think it is bad and should be illegal, and some people think it is good in some ways if used properly. It should be legal because it has few negative effects, it serves other purposes than getting people stoned, and it is better than other drugs. Many advocates say â€Å" Marijuana is a common drug used by many people.†(Sandra) A lot of people think marijuana has numerous amounts of negative effects on the body. Marijuana helps the body in many different ways. It relaxes and relives stress from many people. It has been proven that marijuana does not kill brain cells, like most people seem to think it does. Marijuana also helps the creativity of people. It gives people new†¦show more content†¦nbsp;nbsp;nbsp;nbsp;nbsp;Marijuana is used for other things than getting someone stoned. Many advocates say â€Å"Marijuana is used for hemp making for fabrics and necklaces.†(William J.) Many advocates say, â€Å"If marijuana is so bad then why do doctors prescribe it to patients to help cure cancer, AIDS, headaches, migraines, glaucoma, and many other diseases.†(Sandra) Marijuana is used to calm people down and relieve stress. nbsp;nbsp;nbsp;nbsp;nbsp;Marijuana does have some negative effects, but compared to other drugs marijuana is harmless. Other drugs are highly addictive were marijuana is not. Alcohol is one of the most leading causes of car crashes. Marijuana is nowhere near being a leading cause of death. Other drugs can lead to cancer where marijuana is used to cure it, and other drugs can lead to deaths. Other drugs impair you vision, but marijuana does not. All the other drugs except alcohol are gateway drugs, and the only way to purchase them is by smuggling them across the border. Many advocates say â€Å"we should begin to reflect that reality in our state and federal legislation, and stop acting as if otherwise law-abiding marijuana smokers are part of the crime problem. They are not, and it is absurd to continue using law enforcement resources arresting them.† (Gary) Many advocates also say, â€Å"Far more harm is caused by marijuana prohibition than by marijuana itself.†(Gary) The legalization of marijuana is a very debatable subject. Many peopleShow MoreRelatedEssay on Pros and Cons of Legalizing Marijuana1880 Words   |  8 PagesPros and Cons Of Legalizing Marijuana Marijuana is a very common street and recreational drug that comes from the marijuana plant. The plant that produces marijuana, as is well known, is the hemp plant cannabis sativa. The pharmacologically active ingredient in marijuana is tetra-hydro-cannabinol. Marijuana is used to heighten perception, affect mood and relax. It is estimated that about thirty percent of adults in the U.S. use marijuana. Many people think marijuana is harmless. It is not.Read MoreEssay on Legalizing Marijuana: Pros and Cons1599 Words   |  7 PagesIn 2007, $42 billion was spent on the marijuana prohibition. That is more money than the war on drugs spent on all types of drugs three years before when $40 billion was spent all together. Why is our government focusing on a drug that can be called merely harmless to those who use it? Why is this drug getting more money spent on it than drugs that are highly addictive and life threatening? Marijuana is not as dangerous as people may want it to seem. Marijuana is a product of the Cannabis staviaRead MorePros and Cons of Legalizing Marijuana2690 Words   |  11 Pages Marijuana Angela Stackhouse 05/07/09 Marijuana The uses of marijuana amongst teenagers has increased over the years making it the most accessible drug in America as well as one the most beneficial due to its medical uses. According to the article of Marijuana Use Among Youths Is a Serious Problem, written by the National Center on Addiction and Substance Abuse at Columbia University (CASA) (2004), stated that the uses of marijuana has impacted the youth in many ways due to the unknown factorsRead MoreShould Marijuana Be Legalized? Essay1030 Words   |  5 PagesMarijuana should not be legalized There are many reasons why marijuana should not be legalized. There are also reasons why marijuana should be legalized. However, the cons for legalizing marijuana outweigh the pros, which lead to why marijuana should not be legalized. The topic of marijuana is extremely important in our society and one worth investigating. It was a blast finding information that I didn’t know about this topic. In this essay, I will break down facts, statistics, and data aboutRead MoreShould Marijuana Be Legalized?870 Words   |  4 Pages Legalize Marijuana In my opinion I think marijuana should be legalized across the country because it does benefit a lot of people with autoimmune problems, anything that weakens the immune system, cancer, M.S., and more. Doctor’s believe that the prohibition of marijuana causes the public more harm than good. Those are some of the pros. Some of the cons of legalizing marijuana is it has an addictive nature, it can alter a user s perception, is popularly known as a gateway drug, does damageRead MoreMarijuana: For Better or For Worse?1740 Words   |  7 PagesMarijuana is a harmful drug and should not be legalized. Marijuana is the most commonly used illicit drug used in the United States. It is a plant that grows from the ground however, it contains many harmful toxins. There are many pros and cons for the legalization of marijuana although there are more cons than there are pros; one being that children are the ones who abuse marijuana the most. Surprisingly, against other beliefs, marijuan a smoking actually does impair the user’s ability to drive aRead MoreShould Marijuana Be Legalized?1224 Words   |  5 PagesLegalizing Marijuana Many different web pages and read over the information that they provided and this is what is found. The debit for this topic is all over the place some say we should some say we should not legalize marijuana. The three main topics that will going to go more into depth with are the medical benefits, monetary benefits and the renewable benefits. But first, let a bit about marijuana, so other names for it is weed, herb, pot, grass, bud, ganja, Mary Jane to name a few. MarijuanaRead MoreShould Marijuana Be Legalized?1463 Words   |  6 PagesLegalizing marijuana is the most argumentative issue in United States. It has been discussed for many years. There are many debatable questions that need the final answers such as: Should Marijuana be legalize and taxed? Should medicinal marijuana in all states? Should the issue be addressed at the national or at the state level? Everything has its own pros and cons, so does legalizing marijuana. It can reduce the pain in medical purposes, prevent consumers from consuming marijuana illegally, andRead MoreEssay about Should Marijuana be Legalized?968 Words   |  4 PagesShould marijuana be legalized for recreational or medical use? This is a debate that has been happening for quite some time and this is not just a debate that is happening among people. There are many that have taken sides including medical personal and government officials. Currently in the United States there are two states in which recreational use of marijuana is legal; Colorado and Washington. There are three states currently that have pending legislation to legalize recreational use; CaliforniaRead MoreLegalizing Marijuana For Recreational Use1362 Words   |  6 Pageslegalize marijuana for recreational use. Similar to the age limitation set for buying and consuming alcohol and smoking of tobacco products, Colorado has set the age limit for recreational use for adults who are at least twenty-one years of age and over to use an ounce of this drug. A ccording to the drugabuse.gov website, the drug marijuana is defined as a greenish-gray mixture of the dried, shredded leaves and flowers of Cannabis sativa—the hemp plant. After two years of legalizing marijuana, Colorado