Sunday, December 8, 2019
Question: Write a report critically analysing how the strategy of merger and acquisition is used in the energy sector during the oil price drop. Answer: Introduction The entire gas and oil industry was in a complete shock when everyone has to face the cost and cash flows pressures. The 18-month long collapse of oil prices have led to mergers and acquisitions from all the four sectors that is upstream, oilfield, midstream and downstream (England and Slaughter 2016). Moreover, the impact in oil drop has not only affected the viability of short term but also influenced the investments and the long-term objectives. The wave to reshape the energy industry when oil prices hit the energy sector led to one response that is mergers and acquisitions. This strategy was widely accepted to bring stability while improving the situations of the companies so that they could access the new markets (Joshi and Desai 2015).This research highlights the sharp decline in oil prices in the past years and the help that had been provided by mergers and acquisitions to the small producers to enable them to earn profit in the external as well as the internal environment. Th e oil price volatility constitutes to be harmful as it results in fluctuations in output growth leading to uncertainty for future prices. The study will analyze the oil drop and the effectiveness of the mergers and acquisition in different companies to analyze the process while redefining the sector. Merger and Acquisition in 2014-2016 during Oil Drop The oil drop in 2014 has been from the peak price of 115 US billion dollars per barrel in June 2014 to approximately 50 US billion dollars per barrel in 2015. The reduction in prices of oil added with the continued low natural gas prices has declined the number of operations in rigs affecting the drilling commitments to more than 250,000 professionals (Krauss 2016). On the other hand, when we consider according to the sectors then the downstream had been benefited while widening the refining margins for falling feedstock rapidly. The midterm sector had been providing cash flows based on the pipeline transportation fees whereas the prospects seemed to have slow down the upstream sector. Many companies resorted to mergers and acquisition strategies because companies with low economic outlook could not achieve the growth strategy. However, this strategy was adopted by the organizations to strengthen the technical and financial base that could reduce the cost structures. Conversely, mer gers were for that company where the corporations combined their share of resources with a common objective whereas acquisition was done for the small corporations where the organization took a legal subsidiary or the selected assets of the firms. This strategy adopted yielded benefit to give wealth maximization to the shareholders (Joshi and Desai 2015). However, adopting this strategy lowered the pressure on both the buyers and the sellers. The financial investors have been significant in maintain a consistent presence in the energy value chain such that the investors are mainly focused on establishing their upstream with larger capital needs or complex assets. Although, there has been growth in mergers and acquisitions since 2015 and the certain examples that deals with more complex investments include companies like Hutchison Whampoas that acquired a stake in Husky Energy for 2 billion dollars followed by Macquaries Stake Brookfield and Asset Management hold a stake for 2.1 bill ion dollars in Apache Energy (Atkearney 2016). Moreover, the largest merger deal between BP and Royal Dutch Shell cannot be fruitful for the oil drop scenario because the deal and the operations are fiendishly complex and regulated (Crooks 2014). Mergers and Acquisitions Outlook for 2015 The industry oil and gas experienced a wave of mergers and acquisitions providing a decisive action towards the oil prices stabilization. It started with notable acquisition of 82 billion dollars of BG Group by Royal Dutch Shell. In the first quarter, here were a total of 100 million dollars value mergers across 40 deals. Among the non-oil and gas entities, most deals were focused downstream including Qatars 5 billion dollars acquisition in Shandong Dongming Petrochemical as well as SamrukKazyna of a stake of 49% and JSCs 4.7 billion dollars investment in KMG Kashagan BV with a stake of 50% (England and Slaughter 2016).However, the opportunistic as well as consolidated acquisitions was required to provide a competitive edge that not only restructured to emerge stronger than before but also meet challenges, specifications on time. Conversely, the small service oil companies became targets for creative financing so that that valuation gap could be structured with considered limitations on the viability. This was possible through by using derivative instruments to create options for stable cash regarding fees as well as forward discounting. Mergers and Acquisitions Outlook for 2016 The consistent scenario in reduction in oil prices ensured liquidity to be one of the imperative factors such that in early 2015, Exxon, Chevron, BP and Total issued a debt of worth 31 billion dollars in raising cash through secondary equity. However, to meet the ongoing deal structures of the organization, there had been job cuts in the international oil companies that comprised of 7,000 job cuts by BP, creating headcount reductions as a measure of cost reductions (Atkearney 2016). Hence, the oil companies had to use more transformative measures like competitiveness of high-grade portfolios. BP, Chevron and Shell announced 45 billion dollars sales over the next few years focusing on sustainable assets to meet the reduction in oil prices. Models The model that can be used for external environment is PESTEL whereas the model that can well describe the internal factors are the Porters Five Forces. However, the strategy for market development based on mergers and acquisitions can be studied using Porters Generic Strategies. PESTEL (External Factors)The external factors highlight the business environment for the external environment. The strategic analytical techniques that can be used to evaluate the impact of external factors on the adoption of mergers and acquisition during the oil drop is PESTEL. PESTEL Tool Political FactorsThe political events that had led to decrease in oil drop was majorly because of the war or rebellion that had struck the oil producers and prevented to produce or sell oil such that the supply of oil reduced. The side effects are known to be as resource curse because of the geopolitical politics and political instability. Moreover, the changes in the oil production is due to the collapse of oil prices that remain to be stagnant since 2014 levels (Pitatzis 2016). However, the slumping down of global demand and a glut of global supply is still making smaller or larger companies struggling to cope with the energy sectors doldrums. Politically, all the global companies as if Shell plunged sold extra 10 billion dollars assets to plunge 87% of profits. Halliburton and Baker Hughes abandoned its tie up of 28 billion dollars. On the other hand, to meet the cost structures in the political environment, BP had done 1 billion dollar cuts including job cut as a response to oil prices. Comparatively, though BP has strategic partner Statoil that agreed to sell a portion to for 740 million dollars (Atkearney 2016). Economic FactorsThe economic environment has equally in a turmoil after the drop in oil prices from 115 US billion dollars per barrel to 35 US billion dollars per barrel at the end of February 2016 (Rogoff 2016). The oil sector was not able to hold anymore of spending of projects as the supply exceeded the demand (Austin 2016). The following diagram below can explain the latest imbalance in supply and demand. Moreover, the differences in prices has been prevalent due to the global economic crisis. Although, the world economies had been recovering from the crisis but the extraction from the unconventional and off shore gas fields led to high cost of extraction amongst the reserves. The other reasons that added to these economic factors were over mounting of public and private debt in OECD countries and shadow banking system in emerging economies (Pitatzis 2016). Social FactorsThe socio-cultural factors that played a role in the reduction of oil prices includes migration, demography, income, culture, religion views on issue. The social trends that significantly affected the oil and industry are the reduction in the usage of fossil fuels like oil sands, shale gas and coal and opting for alternative sources of energy. The loss in jobs during the aftermath of crisis and in the period of 2015-2016 resulted in negative attitude of the people towards larger companies (Austin 2016). Technological FactorsThe technological factors that laid the foundation for the oil drop are the risks that can be associated with the access to rare resources that enabled deep-water drilling in cash rich industries. Such operations have not only increased the danger but also have provided barriers in upgrading to a new technology (Pitatzis 2016). The innovation market may pose risk from exploration leading to software innovation from the unlevelled g round that may lead to extreme costs in the oil and gas industry. Environmental FactorsThe medium effects of low oil prices depend on the environmental sustainability of biofuels causing unavoidable competition in food production and providing restricted greenhouse gas benefits. Moreover, the energy prices in 2013, have been straining public finances. As a result, there are countries that redirect pollution to environment and public health as most of them lack carbon prices that could reinforce structural change to lower carbon economy. Moreover, the basic environmental reason that led to the low oil price is the nuclear incident that took place in Fukushima Japan and the Hurricane Karl because of which various wells had been shut down in Mexican Gulf (Krauss 2016). Legal FactorsThe legal factors that briefly describe the reduction in oil prices is due to the certain taxes and tariffs in the notable capital and labor that has not only discouraged the economic activity but also has also worsen the future economic growth. On the other hand, the reduced subsidies had been undertaken to balance budgets in the economies. However, the transitioning to a competitive workforce has not only made the oil producing countries one of the least productive countries but also entailed the freedom to enterprise their families. OECD receives the only benefit as lower energy prices create an opportunity to reduce fossil fuel subsidies while providing wide range of economic benefits like tax breaks, opening up political space for reforms, etc. (Baffes et al.2016)Porters Five Forces (Internal Factors)The internal factors can be analyzed based on the microenvironment of the various organization that had been driven by the cause and effect of the reduction in oil prices.New Potential Entrants The new entrants will have benefit to enter in the market in the form of mergers and acquisition that will lead to potential lucrative markets, as there would be government backing for drill ing. Moreover, Cuadrillas position, as one of the organizational in the UK oils and gas sector will improve. On the other hand, shale gas market will be uplifted.Industrial Rivalry and Competitiveness The industry rivalry and competitiveness is low because the growth of the organization has fallen to a level where market share can be taken from other firms based on mergers and acquisition. However, as there is strong market for oil the standardization could be maintained.Power of Buyers The organization and OPEC hold a large market for oil and gas buyers stating that the power of buyers will be high and the market demand will rise, as there storage for airlines and haulage will increase.Power of Suppliers The power of supplies will be considered medium, as there will be many oilfields from where the oil extraction could be done. However, due to extraction in unconventional farms, the competition might exist between Baker Hughes and Schlumberger (Evans, Nyquist and Yanosek 2016).T hreat of Substitutes The threat of substitutes will be higher for oil and gas industry because the only substitute available is renewable energies that comprises of biomass, solar, wind, geothermal and water. Although, the demand for renewable will be lower in comparison with lower prices but the effectiveness, viability and efficiency will be enable to replace traditional fossil fuels to an extent keeping in mind the environmental concerns (Klevns, Stern and Frejova 2016).Porters Generic Strategies According to the Porters Generic Strategies, the economies as well as companies after mergers and acquisitions have adopted the portfolio expansion strategies in the oil and gas industry. The onshore producer have been seeking operations by operating on the unconventional oilfields for shale oil basins. Although, with diversification in the oil and gas industry they are implying cost leadership strategy so that there could be economies of scale and scope after the mergers and acquisitio n and the organization can make some profit. However, the companies have a first mover advantage in both cost leadership and diversification strategy through mergers and acquisitions. Conversely, there is a need to climb the learning curve in the process to enable players to low cost deals that could be prove to be most valuable in the volatile oil price world. Challenges and Benefits of Mergers and Acquisitions According to the merger and acquisition strategy, the organizations will benefit from the deal as the International Oil Companies (IOCs) will survive the intense cost structures but this strategic alliance can drive cost synergies to some extent. Secondly, mergers and acquisition will help the company with healthy balance sheets to get opportunities on advantage account while others will define strategies to survive. Thirdly, the mergers will help the distressed companies to capitalize through mergers and acquisitions such as Schlumbergers acquisition of Cameron that expanded on offerings to complete drilling to production by joining in-house basin technology with Camerons support and external technologies. On the other hand, oil service companies will be hitting hard for consolidation. Moreover, mergers will be beneficial in reshaping competitive landscape as well (Wilson and Turaga 2016).The challenges that the IOCs will be based on the following factors. Firstly, in terms of faile d mergers there would be due on overpayments with the expectation to expand. Secondly, the IOCs might face integration issues like Halliburton Hughes merger failed due to the scrutiny based on European and US regulators on the overlapping business segments, as it did not succeed in selling businesses due to low prices. Thirdly, the selection of the targets and motives needs to be in need of the financial motives and needs (Joshi and Desai 2015). Lastly, the three levels that could affect the strategic alliance are the recovery in oil prices, policy, tax, regulatory changes and availability of capital (Slaughter and Yee 2016). Conclusion To conclude, it can be said that although the period of 2014-2016 faced drop in oil prices but the only way the bigger companies could survive was by selling their assets and small companies getting into mergers. However, many mergers and acquisitions took place in the International Oil Companies (IOCs). Moreover, the mergers and acquisitions entered in the market to create win-win situation but depending on the scenario from a longer perspective it was done to cut costs, cope up with the competition and lead to growth in the business environment. References Atkearney. 2016. Mergers and Acquisitions in Oil and Gas. Available at: https://www.atkearney.es/documents/3900187/7057723/Mergers+and+Acquisitions+in+Oil+and+Gas+2016+PRINT(25abril).pdf/f2fbfab7-a973-4e40-8ed4-17a59720fa7d [Accessed 2 Aug. 2016].Austin, S. 2016. Six reasons why oil prices reached new 2016 highs. Oil-price.net. Available at: https://www.oil-price.net/en/articles/six-reasons-why-oil-prices-reached-new-highs.php [Accessed 2 Aug. 2016].Baffes, J., Kose, A., Ohnsorge, F. and Stocker, M. 2016. The Great Plunge in Oil Prices: Causes, Consequences, and Policy Responses. worldbank.org. Available at: https://www.worldbank.org/content/dam/Worldbank/Research/PRN01_Mar2015_Oil_Prices.pdf [Accessed 2 Aug. 2016].BBC News. 2016. BP shares plunge as profits halve - BBC News. Available at: https://www.bbc.com/news/business-35469380 [Accessed 2 Aug. 2016].Crooks, E. 2014. Oil price slide sets the stage for MA - FT.com. Financial Times. Available at: https://next.ft.com/content/626dea3 6-3c06-11e4-96b8-00144feabdc0 [Accessed 2 Aug. 2016].England, J. and Slaughter, A. 2016. Oil and Gas Merger and Acquisition Report. Deloitte Center for Energy Solutions. Available at: https://www2.deloitte.com/content/dam/Deloitte/ru/Documents/energy-resources/er-og-ma-year-end-2015-repor.pdf [Accessed 2 Aug. 2016].Evans, B., Nyquist, S. and Yanosek, K. 2016. Mergers in a low-oil-price environment: Proceed with caution. McKinsey Company. Available at: https://www.mckinsey.com/industries/oil-and-gas/our-insights/mergers-in-a-low-oil-price-environment-proceed-with-caution [Accessed 2 Aug. 2016].Griffin, R.W. 2013. Fundamentals of management. Cengage Learning.Joshi, N. and Desai, J. 2015. A Study of Mergers Acquisitions in Aviation Industry in India and Their Impact on the Operating Performance and Shareholder Wealth. Journal of Business Management and Economics.Klevns, P., Stern, N. and Frejova, J. 2016. Oil Prices and New Climate Economy. newclimateeconomy.report. Available at: htt ps://newclimateeconomy.report/2015/wp-content/uploads/2016/04/Oil-prices-and-the-New-Climate-Economy.pdf [Accessed 2 Aug. 2016].Krauss, C. 2016. Oil Prices: Whats Behind the Drop? Simple Economics. Nytimes.com. Available at: https://www.nytimes.com/interactive/2016/business/energy-environment/oil-prices.html?_r=0 [Accessed 2 Aug. 2016].Pitatzis, A. 2016. PEST Analysis for Global Oil and Gas Companies Operations. linkedin.com. Available at: https://www.linkedin.com/pulse/pest-analysis-global-oil-gas-companies-operations-athanasios-pitatzis [Accessed 2 Aug. 2016].Rogoff, K. 2016. Whats behind the drop in oil prices? World Economic Forum. Available at: https://www.weforum.org/agenda/2016/03/what-s-behind-the-drop-in-oil-prices/ [Accessed 2 Aug. 2016].Rothaermel, F.T. 2015. Strategic management. McGraw-Hill.Russell, K. 2016. How Oil Prices Are Falling Again, Explained in Four Charts. Nytimes.com. Available at: https://www.nytimes.com/interactive/2016/business/energy-environment/oil-pric e-supply-demand-imblance.html [Accessed 2 Aug. 2016].Slaughter, A. and Yee, M. 2016. Oil and gas mergers and acquisitions report: Year-end 2015 | Deloitte US | Energy Resources. Deloitte United States. Available at: https://www2.deloitte.com/us/en/pages/energy-and-resources/articles/oil-and-gas-mergers-and-acquisitions-report-year-end.html [Accessed 2 Aug. 2016].Tassabehji, R. and Isherwood, A. 2014. Management use of strategic tools for innovating during turbulent times. Strategic Change, 23(1Ã ¢Ã¢â ¬Ã 2), pp.63-80.Wilson, T. and Turaga, U. 2016. What Does the Failure of the HAL BHI Merger Mean for MA in Oilfield Services?. Adi-analytics.com. Available at: https://adi-analytics.com/2016/05/11/what-does-the-failure-of-the-hal-bhi-merger-mean-for-ma-in-oilfield-services/ [Accessed 2 Aug. 2016].
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Saturday, November 30, 2019
Compares films depictions of West, values, gunfighting, 19th Cent. town life, directors messages styles. My Darling Clementine ( John Ford ) High Noon ( Fred Zinnemann ) John Fords My Darling Clementine (1946) includes historical characters and historical events, while Fred Zinnemanns High Noon (1952) is more a generic Western with an interesting slant on the history of the time in which the film was made. At heart, both films are about a clash between good and evil that ends with a gunfight in the street, with the forces of law against the representatives of disorder. While this may be a timeless battle repeated endlessly in filmsnot only Westerns, but certainly in the Western genre time and time againhow this battle is treated in the two films shows a very different view of the social order, of the role of the hero, and of the meaning of the battle itself. Ford takes a much more traditional view of his hero, Wyatt Earp, and he treats that character in the heroic mold even though the historical character and his brothers were not as admirable as
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Tuesday, November 26, 2019
Voiced vs. Voiceless Consonants Phoneticists (who study the sound of the human voice) divide consonants into two types: voiced and voiceless. Voiced consonants require the use of the vocal cords to produce their signature sounds; voiceless consonants do not. Both types use the breath, lips, teeth, and upper palate to further modify speech. This guide presents the differences between voiced and voiceless consonants and gives you some tips for using them. ThoughtCo / Jaime Knoth Voiced Consonants Your vocal cords, which are actually mucous membranes, stretch across the larynx at the back of the throat. By tightening and relaxing as you speak, the vocal cords modulate the flow of breath expelled from the lungs. An easy way to determine whether a consonant is voiced or not is to place a finger on your throat. As you pronounce a letter, feel the vibration of your vocal cords. If you feel a vibration the consonant is a voiced one. These are the voiced consonants: B, D, G, J, L, M, N, Ng, R, Sz, ThÃ (as in the word then), V, W, Y, and Z. But if consonants are only single letters, what are Ng, Sz, and Th? Theyre common sounds that are produced by blending the two consonants phonetically. Here are some examples of words that include voiced consonants: traveledglovesshellsstartedchangedwheelsliveddreamsexchangedglobesphoneslistenedorganized Voiceless Consonants Voiceless consonants do not use the vocal cords to produce their hard, percussive sounds. Instead, theyre slack, allowing air to flow freely from the lungs to the mouth, where the tongue, teeth, and lips engage to modulate the sound. These are the voiceless consonants: Ch, F, K, P, S, Sh, T, and ThÃ (as in thing). Common words using them include: washedcoatswatchedbooksseatsdroppedcarts Vowels Vowel sounds (A, E, I, O, U) and diphthongsÃ (combinations of two vowel sounds) are all voiced. That also includes the letter Y when pronounced like a long E. Examples: city, pity, gritty. Changing Voice When consonants are put in groups, they can change the vocal quality of the consonant that follows. A great example is the past simple form of regular verbs. You can recognize these verbs because they end in ed. However, the consonant sound of this ending can change from voiced to voiceless, depending on the consonant or vowel that precedes it. In almost all cases, the E is silent. Here are the rules: If the ed is preceded by a voiceless consonant such as K, it should be pronounced as a voiceless T. Examples: parked, barked, markedIf the ed is preceded by a voiced consonant sound such as B or V, it should be pronounced as a voiced D. Examples: robbed, thrived, shovedIf the ed is preceded by a vowel sound, it should be pronounced as a voiced DÃ because vowels are always voiced. Examples: freed, fried, liedException: If the ed is preceded by T, it should be pronounced a voiced id sound. In this case, the e is pronounced. Examples: dotted, rotted, plotted This pattern can also be found with plural forms. If the consonant preceding the S is voiced, the S will be pronounced phonetically as a Z. Examples: chairs, machines, bags If the consonant preceding the S is voiceless, then the S also will be pronounced as a voiceless consonant. Examples: bats, parks, pipes. Connected Speech When speaking in sentences, the ending consonant sounds can change based on the following words. This is often referred to as connected speech. Here is an example of a change from a voiced B in the word club to a voiceless P because of the voiced T in to of the following word: We went to the club to meet some friends. Here is an example of a change from a voiced D past simple verb changed to voiceless T: We played tennis yesterday afternoon.
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Friday, November 22, 2019
HIV Uses Trojan Horse Method to Infect Cells Like all viruses, HIV is not able to reproduce or express its genes without the help of a living cell. First, the virus must be able to successfully infect a cell. To do so, HIV uses a veil of human proteins in a Trojan horse manner to infect immune cells. To go from cell to cell, HIV is packaged in an envelope or capsid made from viral proteins and proteins from human cell membranes. Like the Ebola virus, HIV relies on proteins from human cell membranes to gain entrance into a cell. In fact, Johns Hopkins scientists have identified 25 human proteins that have been incorporated into the HIV-1 virus and aid its ability to infect other body cells. Once inside a cell, HIV uses the cells ribosomes and other components to make viral proteins and to replicate. When new virus particles are formed, they emerge from the infected cell cloaked in a membrane and proteins from the infected cell. This helps the virus particles avoid immune system detection. What Is HIV? HIV is the virus that causes the disease known as acquired immunodeficiency syndrome, or AIDS. HIV destroys cells of the immune system, making an individual infected with the virus less equipped to fight off infection. According to the Centers for Disease Control (CDC), this virus may be transmitted when infected blood, semen, or vaginal secretions come in contact with an uninfected persons broken skin or mucous membranes. There are two types of HIV, HIV-1, and HIV-2. HIV-1 infections have mostly occurred in the United States and Europe, while HIV-2 infections are more prominent in West Africa. How HIV Destroys Immune Cells While HIV may infect different cells throughout the body, it attacks white blood cells called T cell lymphocytes and macrophages in particular. HIV destroys T cells by triggering a signal that results in T cell death. When HIV replicates within a cell, viral genes get inserted into the genes of the host cell. Once HIV integrates its genes into T cell DNA, an enzyme (DNA-PK) uncharacteristically sets off a sequence that leads to the death of the T cell. The virus thereby destroys the cells that play a major role in the bodys defense against infectious agents. Unlike T cell infection, HIV infection of macrophages is less likely to lead to macrophage cell death. As a result, infected macrophages produce HIV particles for a longer period of time. Since macrophages are found in every organ system, they can transport the virus to various sites in the body. HIV-infected macrophages may also destroy T cells by releasing toxins that cause nearby T cells to undergo apoptosis or programmed cell death. Engineering HIV-Resistant Cells Scientists are attempting to develop new methods for fighting HIV and AIDS. Stanford University School of Medicine researchers has genetically engineered T cells to be resistant to HIV infection. They accomplished this by inserting HIV-resistant genes into the T-cell genome. These genes successfully blocked the entry of the virus into the altered T cells. According to researcher Matthew Porteus, We inactivated one of the receptors that HIV uses to gain entry and added new genes to protect against HIV, so we have multiple layers of protection what we call stacking. We can use this strategy to make cells that are resistant to both major types of HIV. If it is shown that this approach to treating HIV infection could be used as a new type of gene therapy, this method could potentially replace current drug therapy treatment. This type of gene therapy would not cure HIV infectionÃ but would provide a source of resistant T cells that could stabilize the immune system and prevent the deve lopment of AIDS. Sources: NIH/National Institute of Allergy and Infectious Diseases. Scientists discover how HIV kills immune cells; Findings have implications for HIV treatment. ScienceDaily. ScienceDaily, 5 June 2013. (www.sciencedaily.com/releases/2013/06/130605144435.htm).Herbein G. and Kumar A. The macrophage: a therapeutic target in HIV-1 infection. Molecular and Cellular Therapies. Published 2 April 2014. (molcelltherapies.com/content/2/1/10).Stanford University Medical Center. Immune cells engineered in lab to resist HIV infection, study shows. ScienceDaily. ScienceDaily, 22 January 2013. (sciencedaily.com/releases/2013/01/130122101903.htm).
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Thursday, November 21, 2019
Explain why liberal economic theory, policy and institutions are so dominant today. Is this good for business and for society - Essay Example In addition to this, it has been slowly been assimilated by other states that have seen the need to adopt to it while others have been dictated to adopt the idea. For instance, the third world countries which depend mostly on financial assistance from the West have been forced to strictly follow this policy through the World Bank or even the IMF. Despite the policy having competition from states that prefer socialism to capitalism, it has continued to dominate the business world especially after the collapse of the socialism era (Barry 1993). How the policies of liberal business have managed to dominate in business up-to-date For many years, the liberal form of economy has been dominating the business world. Furthermore, updating of the classical liberal economy to the now neo liberalism has contributed numerous terms of dominating the business empire. For instance, it has played a vital role in the economic policy making in US and the UK, dominated economic policymaking in the US an d the UK. Although the theory has faced numerous oppositions in the business world, it has continued to dominate some parts of the world in its own way. A good example is the third world countries have been forced to adopt the liberal policies through organizations like the IMF and the World Bank (Jason 2005). There was a comeback in the old religion of classical liberalism, through academic economics, and then in the real field of public policy. The neo-liberalism has been clearly viewed as an economic theory, as well as, a platform of policy making. Due to its capitalism nature, the market is free for individual choices that are able to meet the ultimate goals of economic success together with its distributional procedures (Barry 1993). In most cases, the state has very little command in terms of property rights, law enforcement, and limiting the amount of profit an individual or company has made. For this reason, a state cannot act as a mediator because of mistrust amongst the bu siness partners. The policy on liberal economic theory is mainly based on the regulation of welfare state whereby, there is privatization of public assets, tax regulation, and business regulation. Additionally, this it has embraced the investing class too. Internationally, liberalism encourages liberated transit of goods and services across the borders globally (Andrew 2008). The policy has been a success by ensuring that different corporations, individual investors, as well as, the banks are free to transact any form of business without being limited by the boundaries of a state despite such action being not part of the liberalism policy. In 1970s, economist viewed the liberal theory as just a temporal solution towards the economic in stability at that time. This is because the key Asian regulationsÃ¢â¬â¢ policies never solved their solutions at that particular moment. The only possible solution was to shift their attention to the liberal policies, which was their only way out to counter the obstacles that hindered them from making any substantial profit (Andrew 2008). However, the policy proved to be adoptive on a more permanent basis rather than being a temporal solution. Such policies have made it possible for the likes of politicians such as Margret Thatcher of the UK and her US counterpart Ronald Reagan to be on the map of success under their partiesÃ¢â¬â¢ administration in 1990s hence solidifying its dominating ground in the economic world (Sawyer and
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Tuesday, November 19, 2019
Technical communication - Essay Example Therefore, the statement about the ease of operation should be changed, along with the drawing, so that the two agree in the assumption of this reasonable Ã¢â¬Å"fitness for a particular purposeÃ¢â¬ (Product, 2009). Ethical Case: In this case, the DMX-450Ã ® is advertised as a product that Ã¢â¬Å"makes downloading large email files almost instant. YouÃ¢â¬â¢ll no longer have to wait for large file scans.Ã¢â¬ The ethical breach that has occurred here is that the content violates the readerÃ¢â¬â¢s assumptions of fact based and rational explanation of the product. Instead, the DMX is being advertised as operating at a speed that is impossible, or approaching impossible; it is not an objective or fact-based description of what the software is capable of (such as a specific baud rate or downloading speed). I would tell the co-worker that s/he should trust their consumer more, and stop trying to talk down to them with lofty exaggerations; I would advise them to simply tell the consumer about the product, rather than boasting, to make a better ethical impression. This way, the consumer will feel more secure and trusting about the companyÃ¢â¬â¢s
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Saturday, November 16, 2019
Eco-friendly and formaldehyde-free Essay Dont have the budget for solid-wood kitchen cabinets, but still want to avoid VOC emissions? Youre in luck. In recognition of the new school year, heres a pop quiz: What do mussels those delectable morsels from the sea best served in a white wine sauce and plywood have in common? Cant see the connection? Read on! Unless you, like some mussels, have been living under a rock, you will be aware of the growing hullabaloo about VOCs (volatile organic compounds) and how we dont want to be breathing them in. The bad news is, if youve had non-solid wood kitchen cabinets installed recently or purchased furniture made of composite wood products, you may be doing just that. But theres also good news. Governments and manufacturers have heard the ruckus about VOCs and taken action and, just when you thought you had all the possible options for kitchen cabinet materials nailed, out they come with new ones to confuse everyone. Hence this primer to bring you up to speed and make sense of it all. It used to be that consumers had two extremes to choose from when they shopped for kitchen cabinets. The lower-cost options were cabinet components made of either particleboard, medium-density fibreboard (MDF) or plywood. These are all composite wood-panel products traditionally containing glues that, when they come to room temperature, emit VOCs in the form of potentially carcinogenic urea formaldehyde (UF). At the other end of the price extreme was solid wood, which doesnt have this problem but costs more. Many contractors still tell clients that their choices are either/or, and urge them to go for the higher-priced wood for various reasons. Luckily for consumers who dont have the budget for a solid-wood kitchen but who want to avoid VOC emissions, this all changed about three years ago, says David Beattie of Rayette Forest Products, based in Concord, Ont. That was when Oregon-based Columbia Forest Products introduced PureBond, which Mr. Beattie describes as a veneer core hardwood plywood made with glue containing zero UF. This plywood, whose layers are joined by a soy flour-based glue, is one of a growing number of alternatives to products in which UF-emitting glues are used. It was introduced by Columbia ahead of new industry standards in the United States the toughest there to date set by the California Air Resources Board (CARB). The story behind PureBond and this is where the mussels come in is rather romantic, although romance isnt something youd normally associate with plywo od either. It seems that an Oregon State University researcher was vacationing along the Pacific Ocean. While sitting on the beach watching the waves pound the shoreline, he noticed clumps of mussels clinging to the rocks. No amount of battering surf could dislodge them. What are they secreting, he wondered, that allows them to adhere to the rocks so solidly? In short, research into those secretions led to the soybean-based, zero-UF glue used in PureBond plywood. Columbia Forest Products says using PureBond is cost-neutral when compared with its former UF-emitting panel products. Thats despite the large expenditures the company says it has made to develop the product. This is an important development, romantic beginnings aside, because, according to CARB findings, The most significant source of (UF) emissions we face on a daily basis comes from the composite woods in our furnishings and cabinetry. At this stage, the glues that work in zero-UF plywood arent being used for particleboard or MDF. Some sources say these adhesives simply dont work with those materials, which have different natures than plywood. But there is something called no added UF particleboard, as well as a kind of MDF whose emissions are in the acceptable range. Look for a particleboard called SkyBlend developed by Oregon-based Roseburg Forest Products and made with recycled and sustainable raw materials, and Arreis MDF, made by SierraPine, which is based in California. Both SkyBlend and Arreis are considered green building products that meet North American VOC-emissions standards. They, and PureBond, are readily available in Canada. With this kind of progress in the wood-products industry, Rayettes Mr. Beattie predicts it wont be long before all composite wood materials are formaldehyde free. If youre in the market for new kitchen cabinetry and your budget wont cover solid wood models, discuss your material options with your contractor. Its important to ensure that hes up to speed on the latest technology and knows what your preferences are. Most general contractors have preferred cabinet suppliers. Find out if those suppliers offer a zero or low UF-emitting panel product. If your contractor still thinks there are only the two extremes to choose from, tell him about the mussels. I know that not everyone is up in arms about UF emissions. Even if you arent, however, I still urge you to find out where your contractors cabinet supplier buys his composite wood products. If theyre coming from certain Third World countries, you could be getting third-rate quality along with those high UF levels. Some contractors will go the foreign route because its cheaper even though those materials often dont meet our more stringent Canadian and North American standards. Canadian materials can cost more than those made in Third World countries. For example, in an average-sized kitchen, using Canadian-produced panel materials is about $500 more expensive than if you went with the Third World products. Still, its not that big of a premium when you consider the benefits of buying Canadian: zero to low UF emissions, and the fact that youre supporting our economy, our workers and our renewable forestry practices. Im not even going to get into the whole human rights thing. As a friend of mine says, when it comes to buying Canadian and going as green as we can, Its all good.
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