Best Practices in Protecting PII Data Essay example

Abstract I have decided to write a research paper on the importance of protecting personally identifiable information (PII) in Information Technology. PII is a critical, but often overlooked skill requirement for IT professionals. The subject of PII data is of vital importance to me since I work with PII data frequently and must be prepared to handle it correctly and ethically, less risk the violation of privacy law. In addition to satisfying the necessary requirements for a research paper, the intention of this paper are to provide: †¢ A thorough treatment regarding what PII data is and isn’t †¢ Define the best practices in handling PII data in the field †¢ Providing case studies and legal references that explore the issues of PII data†¦show more content†¦The reasons for this are varied. One of the major factors that prevent full federal protection is that states have broad ways of defining what is considered personally identifiable information. For instance, take a state like Connecticut: their state laws consider an â€Å"account number† as a personal identifier (Wright, 2009). Let’s say a church sponsored a bake sale and someone bought a cupcake from that church. If the church happened to log that sale with a unique number, say, S101, where ‘S† is the first initial of the buyer and the number is a one-up sales number, that church would then fall under the provisions of the Connecticut state law and may be required to protect that customer’s identity. Other states have varying definitions as to what PII is. The most robust PII protections in the country exist in the state of Californi a, making PII a protected right and allowing anyone that interacts with that data to appropriately protect and reasonably notify affected people of any potential security breaches (Wikipedia, n.d.). There exists many different definitions of PII and its applications and provisions are as vast as there are states in the union. Later, an example of aShow MoreRelatedAn Evaluation of Security Acts and Models Essay1672 Words   |  7 Pagesidentifiable information (PII). PII should always be protected via means of encryption and additional security measures not only when it is being transmitted across the internet, but also when it is being stored locally on a server. Many of these security and risk oriented rulings mandate the requirements of securing individuals’ personal information. Some of the acts and models even go as far as to designate how an organization must respond to and notify instances of persona data breaches. The aforementionedRead MoreElectronic Health Case Study714 Words   |  3 Pagesfacilities turning to electronic systems as a way to deal with personally identifiable information and to more efficiently run their practices, there can be opportunitie s for cyber thieves to hijack personal information. Luckily, the OIG has stepped in to identify where a majority of these cyber weaknesses frequently can be determined to be. Subject Line: Is YOUR Practice Safe From Cyber Criminals? Find Out What the OIG Thinks --------------------------------------------------------------------------------Read MoreStrategic Planning Process And Plan1555 Words   |  7 PagesStrategic Planning Process and Plan Harper College’s Information Technology (IT) Client Services department houses the Information Security group. This group does not gather most of its own data, so the leaders will need to gather metric information from other College areas. Harper College Mission and Vision The Harper College mission is â€Å"Harper College enriches its diverse communities by providing quality, affordable, and accessible education. Harper College, in collaboration with its partnersRead MoreThe Issue Of Data Security3261 Words   |  14 PagesAbstract: Data security has become a concern for every individual in our country. We hear about data loss from businesses like Target and University of Maryland at College Park and it is easy to wonder where the next security breach will be and whether it will affect us personally. This is intended as a look at the existing data security policies that receive the most public attention, Family Educational Rights and Privacy Act of 1974 (FERPA) (34 CFR) and Health Information Portability and AccountabilityRead MoreCase Study : Security Management And Ethics1205 Words   |  5 Pagesholistically about the organization’s security. A security program provides the framework for keeping the company at a desired security level by assessing the risks being faced, decision on how it is mitigated, and planning to keep the program and security practices up to date. According to Olavsrud, Cybercrime, along with the increase in online causes (hacktivism), the increase in cost of compliance to deal with the uptick in regulatory requirements coupled with the relentless advances in technology againstRead MoreSecurity Practices Of Electronic Commerce Companies Should Follow1679 Words   |  7 Pagesoccurring. This paper attempts to provide a basic overview of security practices that electronic commerce companies should follow. The first category is building a secure network. There are necessary steps in how a company should approach access into their networks from the outside, from installation of a firewall system, to configuration, and even access control within the enterprise. The second category is data protection. Data must be kept secure not only when it is in transit, or in use, but alsoRead MoreSecurity Policy At The Alliance Group Essay1476 Words   |  6 Pagesuseful and effective company policies, standards, guidelines, procedures and best practices. †¢ Development and implementation of an ongoing, periodic awareness program for all employees company-wide †¢ Development of a risk assessment baseline to identify, analyze, and mitigate risks to the company’s information and the underlying systems supporting it. †¢ Development of an incident response plan that deals specifically data breaches or any information security incident. †¢ Implementation of differentRead MoreSecurity Policies And Control And Password Management Policies1295 Words   |  6 PagesStandardization/International Electrotechnical Commission (ISO/IEC) 27002 Information Technology Security Techniques Code of Practice for Information Security Management standards. These standards appear in the ISO/IEC 27000 series, the industry recognized best practices for development and management of an ISMS (pg. 68 of CISSP). To clarify, ISO 27002 Information Technology Security Techniques Code of Practice for Information Security Management module falls within the ISO 27000 Framework. Ultimately, HHI’s objectiveRead MoreEssay On Protected Health Information1777 Words   |  8 PagesProtected Health Information (PHI) is the combination of health information and personally identifiable information (PII). Health information encompasses information that is created or received by a covered entity via any medium—verbal, written, electroni cally or otherwise. This information includes the physical or mental health condition of an individual at any point in time. PII falls under the umbrella of health information since it has the potential to reveal an individuals personal identityRead MorePrivacy and Computer Technology1930 Words   |  8 Pagesand customers’ privacy interest. New technologies that has either unconsiously adopted or resourcefully applied privacy practices will continue to threaten personal privacy. Business will have to find ways to address this uneasiness. If companies remain complacent, underestimating the degree to which privacy matters to customers, harsh regulation may be waiting in the wings. The best way out is for businesses and customers to negotiate directly over where to draw the lines. (What is Privacy?)

What is Management in an Organization - 900 Words

Management is important because it is important aspect of the success and achievement of an organization’s goals through a group of people. A skilled manager is not only capable of handling administrative activities, but is able to connect with and inspire their teammates in times of prosperity and times of change. In this essay, I begin by looking at the theoretical aspects of management and how it is a product of the relevant time period, before going into my own personality and background, and analyse whether I have what it takes to be a manager in this rapidly changing world. Management is the art of getting things done through and with people in formally organized groups and creates an environment in which people can perform as individuals and yet cooperate to reach an organization’s goals (Koontz, 1962). By allocating scarce resources towards these goals, setting priorities and designing work, strategies are developed and results are achieved through the motivating and rewarding of people to do the work (Toor and Ofori, 2008). Kramer (1975: 47) defined a management idea as a fairly stable body of knowledge about what managers ought to do to achieve goals with and through people (Huczynski, 1993). These theories are a product of its cultural environment and found its roots in the evolving ideas about the economic and human problems facing organizations at the time (Huczynski, 1993), and have in turn contributed to contemporary management thinking. TheShow MoreRelatedWhat Is Strategic Management Patterns Of Every Organization?872 Words   |  4 Pagesthings that are different from the usual way. In other words, the fact is many airline organizations are innovating unique and out-of-the-box strategies for them to carve a niche over their rivals. The information and technology age requires that an organization invest more in research and development activities for them to come out with an innovative strategic pattern of operating that is vastly unique from what is usually known to their fellow competitors but at the same time developing a uniqueRead MoreWhat Is Organizational Effectiveness Of Effective Management Within An Organization?1839 Words   |  8 PagesIntroduction: The background statement of effective management within an organization involves looking into the certain areas of management so that the system of the organization improves. The main purpose for this is that it will help organization to earn more profit and employees will be willing to work. The plan for the essay involves looking into the four areas of management. The four areas that need to be looked by the management involves total quality management, ethical behavior and corporate social responsibilityRead MoreWhat Is Management Theory Of Classical And Human Resources Affect The Management Of Different Organizations1765 Words   |  8 Pagesfor four different management theories. The purpose of this study is to identify which management theory is ideal for any company to pursue and it will cover advantages and disadvantages of each. The source of information for the above topic will be books that are published by different scholars. The research will be concluded with an assert ion of how the two management theories of classical and human resources affect the management of different organizations. Key words: management theories, human resourcesRead MoreWhat Is Scientific Management? How Might Todays Organization Use It?698 Words   |  3 PagesWhat is scientific management? How might today’s organization use it?Kristine Martin MGT 105.94; Principles of Management Unit 1 Homework Assignment Management leading amp; collaborating in a competitive world (Bateman amp; Snell) Text p. 43 Discussion Questions 2, 4, and 6 2) What is scientific management? How might today’s organization use it? According to (Bateman amp; Snell) scientific management approach advocated the application of scientific methods to analyze work and to determineRead MoreWhat Exactly Is an Information System? How Does It Work? What Are Its Management, Organization, and Technology Components?1568 Words   |  7 Pages3. What exactly is an information system? How does it work? What are its management, organization, and technology components? a) Define an information system and describe the activities it performs. From the textbook defines an information system as a set of interrelated components that work together to collect, process, store, and disseminate information to support decision making, coordination, control, analysis, and visualization in an organization. In addition to supporting decision makingRead MoreWhat is Management? Why organizations need management and why managers need good people skills (TQM)?1567 Words   |  7 PagesWHY MANAGERS NEED GOOD PEOPLE SKILLS IN ORDER TO DO THEIR JOB WELL. INTRODUCTION There are three words in the question need to be understood when we start going about the question. Firstly what is a manager and secondly to what extent is good people skills and lastly what is it mean by doing a job well. From my own understanding, managers function cannot be entirely identified, as one managers job can be significantly or slightly different to another. But manager takes up significantly in partRead MoreWhat Information Sources Have You Used For Conduct The Assessment Of Your Organizations Risk Management Processes?1435 Words   |  6 PagesQuestion 1 What information sources have you used to conduct the assessment of your organizations risk management processes (list any relevant policies, procedures, guidelines, discussions etc.) When working as a Promoter for Tasman Food in a massive food chain like Costco particular procedures and policies has to be followed when it comes to food safety risks. The following procedures are: Food Safety a. Documentation: - Food Safety Handling certificates required for all personnel handling foodRead MoreAn Explanation Of The Strategic Management Process1655 Words   |  7 Pages 1. An explanation of the strategic management process Defining the current business, establishing strategic objectives, formulating strategy, strategy implementation and execution. Definition of Strategic Management Strategic management is the process where leaders establish an organization’s long-term direction, set the speciï ¬ c performance objectives, develop strategies to achieve these objectives in the light of all external and internal changes, and undertake effective strategiesRead MoreKnowledge Management and Organizational Knowledge882 Words   |  4 PagesNowadays, successful organizations adopted the socio-technical systems information and knowledge management has become increasingly importance to businesses. Knowledge Management process continues to enable managers and employees with valuable understanding of their business environment and knowledge to make strategic business decisions. This essay will explain data, information and knowledge as well as the socio-technical system, knowledge management, organizational knowledge and organizationalRead MoreEssay on General Motors Management Failure801 Words   |  4 Pagesmain issue that was the most efficient problem was the management inability to foresee and take dynamic action to change. Organizations change in better interest of the customers. Management has to be proactive when deciding on what changes requires active action. Failure to adapt to a positive change will lead the organization to an unsuccessful path. Therefore, if organizational performance changes negatively, the impact of the organization will fail. Business rises and falls on leadership. According

Effective institution education Free Essays

In the increasing diversity and challenges in education, every student looks for an effective institution that will cater their needs and interests as an individual. Each one feels the need to be comfortable not only in the curriculum or degree they are taking but at the same time the availability to expand their knowledge and experience outside the four walls of the classroom. In the end, the integral part of the learning process involves synchronizing student goals with the framework of the school/college. We will write a custom essay sample on Effective institution education or any similar topic only for you Order Now The choice of education has always been an important decision for me as I engage into another phase of my life. I feel the need to prefer a school that will cater to my needs as a student and at the same time offer opportunities to grow in my other talents and capabilities. Moreover, it must also showcase a nurturing environment where I can establish healthy social relationships with my peers and colleagues. Lastly, I favor an educational institution that will accommodate for my holistic maturity as an individual. With all of these, Gonzaga College High School came into my mind. One important reason how the Gonzaga will benefit me as a student is the fact that it can serve as my training ground to have the necessary skills to be competitive amongst my counterparts. Its curriculum boasts numerous classroom programs aimed towards enhancing potentials inside and outside the classroom. Likewise, it can instill in me the discipline and proper attitude to address work and study. By giving me these relative experiences, I can better deal with more complex and complicated situations without compromising effectiveness and quality of work. Another reason that Gonzaga can provide assistance in my education is its ability to harness my other capabilities and talents. With my current interest in lacrosse, I feel that I can be a good contribution to the team if ever I am accepted. I will try to the utmost of my capacity to make it one of the best in the league. On the other hand, my musical inclination can be enhanced by the school as well. By giving me the opportunity to play in a musical band, my guitar skills can be better and at the same time provide enjoyment to listeners. Lastly, I do believe that Gonzaga can supply my interests as a student which is why it has been my first choice for attending and independent school. This is because I do not believe that the public school system can give me the sufficient academic and social environment that Ð ° student like myself desires and needs for future advancement. With a better management and dedicated educators, I feel that making this choice shall never be a mistake. This is why I firmly believe that the admission in Gonzaga will give me an edge and provide a learning environment in which I can use to excel and pave the way for a good college education. In the end, it may be true that a good educational institution is beneficial for the student to have a better future. However, it must also take the dedication and perseverance of an individual to succeed. I believe that I too must also contribute to my overall improvement. Though the school can have the necessary tools towards attaining these objectives, the rest of the process still rests on my part. Due to this, I feel that having the proper attitude and mindset towards education and learning can supplement what the school and teachers provide. It is this merging and continuous exchange between two processes that the overall goals of self improvement and success are attained How to cite Effective institution education, Papers

Mark Twain Racist or Realist Essay Example For Students

Mark Twain Racist or Realist Essay This paper examines Mark Twain’s work to determine whether or not he was racist. Racism is defined by The American Heritage Dictionary as the belief that one race is superior to others. Unfortunately the issue of race isn’t black or white. There are many shades of gray in racism and even the most progressive thoughts of old seems conservative as progress enlightens new levels of thought. During his time, Twain was a forward thinking author who championed many causes, one of them being fair treatment of the downtrodden and oppressed. The only example of potential racism is his treatment of the Goshoot Indians in Roughing It. The main body of his work points to innovative anti-racist themes. Even if one admits that Twain fosters some derogatory stereotypes labeling his work scabrous, unassimiable, and perhaps unteachable to our own time is shortsighted and revisionist. Even if Twain was racist the process of learning is supposed to combat backwards teaching from our past through exposition and discussion (Wonham 40). I even learned from Mein Kampf and objections to Mark Twain’s potential racism pale in comparison to Hitler’s crimes against humanity. Mark Twain certainly wasn’t as politically correct as contemporary newsmen or politicians but his primary occupation was as a satirist. Even today successful comedians, from Saturday Night Live to The Tonight Show, use techniques similar to Twain’s irony, satire and burlesque. Every serious Twain scholar knows of Twain’s reputation as a burlesque humorist/satirist as well as his anti-imperialist and anti-religious tendencies. The scholar must be careful when labeling or categorizing Twain’s work because of his frequent use of sarcasm but Twain definitely liked blacks and abhorred slavery. His treatment of Natives and the Chinese was questionable when looked at apart from his work as a whole, but he slammed the white race more mercilessly than he ever condemned an y other race. Sadly, the cynical and sarcastic Mark Twain can never be fully understood because only he knew what thoughts he was trying to convey. Twain often used burlesques to get a point across by showing the ignorant how ignorant they actually are. In Huck Finn, Twain linked religion and slavery by showing how the former can pervert knowledge and cause acceptance of the latter over objections of conscience. When Huck is ’born again’, he forgets his vow to aid Jim, and his euphoria as being ‘born again’ resembles the feeling of being ‘light as a feather’ that he experiences after deciding to turn Jim over to the slave-catchers (Fulton 83). This commentary is as much about the sorry state of slavery as it is about slavery’s Biblical foundation. James L. Johnson dedicated Mark Twain and the Limits of Power to outlining how, like Emerson, Twain’s solipsism is a fundamental ingredient in much of his best work (Johnson 8). Twainâ €™s characters had or wanted an extraordinary ability to dominate the worlds in which they find themselves (Johnson 1). Twain had little faith in a Christian God so he put more faith in the self. Johnson also thought Twain’s bitterness increased as he unearthed that the larger and more masterful the Self became, the less benevolent he was likely to be (Johnson 7). Although Twain’s life was common because it had limits he envisioned a character who might not have to make those accommodations, a hero who might break out of the prison of limitations into a brighter life (Johnson 187). Frustration with the world, hence a caustic temperament, arose as time wore on but Twain never lost sight and hoped for mastery over it and freedom (Johnson 189). In 1907 Bernard Shaw remarked to Archibald Henderson that, Mark Twain and I find ourselves in the same position. We have to make people, who would otherwise hang us, believe that we are joking (Clemens 5). This point is well il lustrated by the fearless Twain in this excerpt from Mark Twain’s Jest Book: In the spring of 1899, I was one of a crowd of some 1200 who attended at the Waldorf-Astoria in New York to hear a lecture on his adventures in the South Africa War given by a Lieutenant of Huzzars, one Winston Churchill – and the chair was occupied .udfd281b72efb8f72d86093bfc27c206b , .udfd281b72efb8f72d86093bfc27c206b .postImageUrl , .udfd281b72efb8f72d86093bfc27c206b .centered-text-area { min-height: 80px; position: relative; } .udfd281b72efb8f72d86093bfc27c206b , .udfd281b72efb8f72d86093bfc27c206b:hover , .udfd281b72efb8f72d86093bfc27c206b:visited , .udfd281b72efb8f72d86093bfc27c206b:active { border:0!important; } .udfd281b72efb8f72d86093bfc27c206b .clearfix:after { content: ""; display: table; clear: both; } .udfd281b72efb8f72d86093bfc27c206b { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .udfd281b72efb8f72d86093bfc27c206b:active , .udfd281b72efb8f72d86093bfc27c206b:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .udfd281b72efb8f72d86093bfc27c206b .centered-text-area { width: 100%; position: relative ; } .udfd281b72efb8f72d86093bfc27c206b .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .udfd281b72efb8f72d86093bfc27c206b .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .udfd281b72efb8f72d86093bfc27c206b .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .udfd281b72efb8f72d86093bfc27c206b:hover .ctaButton { background-color: #34495E!important; } .udfd281b72efb8f72d86093bfc27c206b .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .udfd281b72efb8f72d86093bfc27c206b .udfd281b72efb8f72d86093bfc27c206b-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .udfd281b72efb8f72d86093bfc27c206b:after { content: ""; display: block; clear: both; } READ: The Effects of Violence in Media on Society Today Persuasive Essay

Blue Ocean Simulation

The Blue Ocean Strategy (BOS) is as a result of about ten years research of over 150 strategic moves that have been seen in over 30 nations in over a century of business dealings. BOS describes the situation where businesses simultaneously pursue differentiation in dealings and low cost processes.Advertising We will write a custom report sample on Blue Ocean Simulation specifically for you for only $16.05 $11/page Learn More The goal of this is usually not to outsmart competitors of the existing industry but rather to create new market space which is in this context referred to as the ‘Blue Ocean’. This way, the competing businesses are rendered irrelevant. BOS provides a number of methodologies and instruments that help in creating these new market spaces. Whereas innovation is often looked at as a random and experimental process in which investors or managers and spin-offs are the main drivers. This BOS provides a systematic and reproducib le method and process that can be used to pursue innovation by both new and existing firms. The frameworks and tools used in this game are very simple and include developing value curves, use of the six paths, greater understanding and interpretation of buyer experience cycle, four actions framework, use of the grid known as strategy canvas, employing the buyer utility map and the blue ocean idea index. Critical Appraisal BOSS is a unique game and the students loved it and they worked as a team to manage a fictitious firm for a number of years. They loved the way they were presented with strategies to swim out of the red ocean that is filled with dangerous sharks to the blue ocean (Kim Mauborgne, 2005, p. 47). The theories behind this simulation game and the tools provided a strategy to break away from competitors and then develop new market space ‘a blue ocean’ for their own firm as a result escape competition. The tool was fun to use and highly effective in learning, practicing and experiencing the market position. The game offers deeper under understanding of the blue ocean theory and actual connection of theory and practice. The competition that the team put up inspired excitement and enthusiasm among the students.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The members were made ready and were willing to lead the blue ocean strategies in other companies. Before embarking on the actual projects, it is proper to study BOSS since it has very good functional team in company specific strategies (Kim Mauborgne, 2005, p. 47). The students loved the game and their attitude was inspired mainly by the fast pace and hands on experience which lead to creation of intense energy and this is what made the students keen and eager to develop their skills and apply them freely. The game is fun to play and also inspire hard work and in real business environment, this combination is irresistible. The ocean is teemed with opportunities as there are different species of animals and the environment there is very attractive and peaceful. There are thousands of real life species to be discovered ranging from the giant whales to the sea lion. This game is very interesting in that the players are given that real feel of exploring the beautiful ocean with good and wide ranging opportunities. The adventure takes place in the mind as the students play and offered relaxation and enjoyment. However at some points, the players have to escape from or resist and calm down attacking sharks which are also exploring shipwrecks or looking for treasure in the sea. The creatures are designed to fully immerse the players it to the ocean. Nonetheless, the simulation teaches survival tactic and it has a full range of instruction material and allow players to monitor the team’s progress and control it highlighting main learning points and repeating them agai n and again (Niciejewska Dimitrov, 2008, p. 75). The BOSS is very simple to administer and the indirect competiveness offers total flexibility that can apply t several team and allow BOSS to work what any number of teammates. The strategy here is based on the symbolism in the game design. The terms red and blue have been used strategically to describe the marketplace in the business world. The read ocean described all the existing industries on the market today and the competitive rules of the game are explicit.Advertising We will write a custom report sample on Blue Ocean Simulation specifically for you for only $16.05 $11/page Learn More The red oceans round, the boundaries if the industry are identified, described and accepted. The firms that outsmart others here in the same industry are able to grab a bigger share of the market and they become dominant to meet the demand of their clients (Niciejewska Dimitrov, 2008, p. 75). As the existing market spaces continue getting overcrowded, they translate into reduced prospects for profits; opportunities for the business expansion also decline. Products become commodities and the competition has heightened to a cut throat level and this is symbolic as in, the competition can be described as Red Ocean for being bloody (Niciejewska Dimitrov, 2008, p. 75). This is why the term red ocean is applied here. As players and students, were are determined to move out of this red ocean because it’s filled with ‘sharks’. By playing in the red ocean round, we get familiarized with the simulation environment or the real industry and market condition we managed fictitious consumers for years. This helped to show that it is very difficult for the fictitious companies to obtain netter results in the environment that is filled with attacks or threats from ‘sharks’. On the contrary to what red ocean has to offer, the blue ocean is a representation of all the industries and markets that are not in existence in the world currently. Simply put, the blue oceans represent the unknown market space that has not been exploited by competition. In the blue oceans, the business strives to create demand rather than fight over the existing demand (Niciejewska Dimitrov, 2008, p. 75). There is therefore ample opportunity to grow faster and more profitably. The blue ocean round is played to help students to attain the BOS learning and they did this in four rounds. We learnt that in the blue oceans, business have space to explore their capacities as there is not or less competition having been rendered irrelevant. This is because the rules of the game are not yet set or known many businesses like in the case of the red ocean. The rule are still being developed as the business grows therefore anything that affects the business at that moment is waiting to be set. The blue ocean simulation offers an analogy of the wider and greater potential that new market space yet to be exploited intensively offers. Just like in life situation, blue oceans waters are vast, deeper and powerful therefore they are many possibilities of trying out something different and totally unique as there are many resources. This is likened to this BOS in business particularly in terms of potential for profitability of the investment, growth strategy of the business and infinite opportunities.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The four rounds have pedagogical goals that will be discussed in the preceding paragraphs. We learnt that the strategies to survive in the red and blue ocean differ tremendously. To sustain themselves, the red ocean strategic concentrate on creating advantages over competitors, normally by assessment of the competitors’ tactics and struggling to emulate them and even do better (Kim Mauborgne, 2005, p. 48). The main goal is to grab a bigger share of the finite market. This is described as the zero-sum game where if one company gains some space in the market, then it directly translates to another one losing the space. Companies here concentrate on sharing the red ocean and the growth is restrained. Strategic thinking in this context helps managers to divide the industry into two types of businesses, those which are very attractive and the unattractive ones. This is what can determine their decision to or not to enter the market (Kim Mauborgne, 2005, p. 49). The blue oceans m anagers realize that there are no boundaries to the industry and in there were any; they are in their minds only. The existing market structures do not restrict their thinking or creativity in the industry. For them, there is always an extra demand in the marketplace that is widely unexploited. As Students with ambition to enter the corporate world, were highly motivated that there is possibility that there are a lot untapped market space out there. The root of the problem is simply the way the new product or new market on new bleu ocean is developed by an ambitious business. This therefore calls for a shift of attention the supply to the demand or to shift focus from the competitors to innovativeness to develop or create new demands (Kim Mauborgne, 2008a, p. 2). This is what the game teaches them be able to pursue low cost and differentiation. The blue ocean offers both attractive and unattractive opportunities in the new business industry for businesses to explore. The success of a firm in any type of product that it chooses to venture in has its level of attractiveness is based in the creativity of the company in that industry and so is its failure. The company can alter this by its own meticulous efforts. The market structure can be altered by breaking the value or cast tradeoff and this are the rules of playing in this ocean and this also renders the completion in the old red ocean irrelevant. By creating new demand, it expands and as such, the economy improves by the resultant creation of new wealth (Kim Mauborgne, 2008a, p. 2). This tactic can therefore allow a company to basically play a non- zero sum game that has very high payoff possibilities. Team Dynamics We clearly understood from the beginning that the simulation game was designed to build important skills in the corporate world. Leadership, decision making, motivation and team member contribution and management of the team collective efforts are the main issues that were addressed. The team m embers chose me to be the team leader and I decided that I would be that team leader would encourage member participation and collective decision making. This means that the groups work would be done with one common goal even when the members are focusing on different tasks. This would make each of them accountable and happy when we achieve the required results. Without wasting much time, we went straight to our responsibilities. Since many of us had not had an experience of playing this game, I was forced to take a risk against my inclination that only me and a member who understood the game would lead others and give them assignments. This was a way of offering strong direction to the group at the beginning. However, it was very easy to understand how we were supposed to go about playing the game and each member had already understood their roles. Gradually, I allowed them to be decision makers in the group. This means as a group leader I was only to play the role of a coordinator rather that director. Autonomous participation resulted in great improvements in the game and I realized that they had become very enthused by the experience. I believe my leadership style had helped to make this group work a success. As a leader, I realized that I was supposed to be able to understand the group’s situation to enable me give direction. I was very flexible to change and welcomed suggestion and opinions from members essentially leadership is all about behavior and especially communicative behavior. At the start I had to veto some decisions and suggestion members gave but I thought were immaterial because they still did not have that actual feel of the game. Nonetheless, later I gladly accepted their thought and decisions and even supporting them because they had grown to become very sensible with regard to the educational objective of the game. Having a good connection with the group allowed me to be a better leader and it is this kind of bonding that also hel ped the group in conflict resolution. My source of power or influence was legitimate power because the members chose me to lead them and any leader needs to be influential in order to lead others. The motivation we had for out group was instant appraisal for good contribution to the group works and the satisfaction we attained by realizing that we had achieve the intended pedagogical objectives of the task. There is no group that lacks conflict because that would mean the group is not communicating, it’s not effective, it does not have goals and it is undermining the essence of group works. The failure to express conflict in a group is called groupthink and this is dangerous to problem solving. However, it is important to properly manage conflict because to do that can cause even more dire consequences. We experienced substantive conflict where members disagreed greatly over the ideas, issues and principles that we had based out group on and the way we were conducting our ass ignment. However, we were fast to use the conflict to our benefit having learnt from previous lessons. I allowed members to freely express their disagreement since denying them that chance would jeopardize out work and kill the genuine process of decision making which is to ensure all members are heard, consequently the problems solving ability of the group would not be tested and the group would be denied some of what could be very crucial information. Our disagreements were based on reasoning and evidence instead of mere insinuations and emotions and the reaction of group members to disagreements were made with spirit of inquest and not attacks. Our style of conflict management was solution-oriented. This strategy was assertive and cooperative in that the members who disagreed were put together to try and reach a compromise with me taking the mediator role. The solution tried to accommodate many of their thoughts and opinions as much as possible. The principles of negotiation, col laboration and compromise were evident in the process. This made the approach very appropriate thought it took a little longer. The solutions obtained were long-lasting because they accommodated the strong opinion from members and also brought some compromise to a satisfactory level, what is called a win-win situation. Each member gave up something and also got something in return. Marketing Theory The team made numerous decision that were basically about research and development to develop new products on new demand as in the blue ocean strategy, improved marketing strategies, and pricing abs sales to fight for a space in the red ocean (Kim Mauborgne, 2004, p. 78). The team also suggested upgrading by reduction and/or raising competitive factor. In reality, there are no new clients but only the existing ones who can be manipulated. Just as studies show that clients are price-conscious, the strategy to swim out of the red ocean to blue ocean would mean to develop products that are cheaper and of superior quality. Market research and marketing theory have found out that customers often ‘want more for less’. Peer Group Discussion The red and blue oceans have always existed and they are here to stay. The true situation on the market therefore requires that companies understand the strategic logic of these two ocean types (Kim Mauborgne, 2004, p. 78). Currently, nonetheless, the competing businesses in red oceans are numerous across industries and business both theoretically and practically. Part of the reason could be that it has a history related to war where companies can define their territories based on the way they are able to defeat the opponents in a limited and defined area. This focus of being competitive and defeating competitors in the existing market has been infuriated by dramatic rise of the Japanese from the 1970s. after being faced with increasing competition on the international market for virtually the first time in history, clien ts started to desert western product for Japanese products. This set out strategic resolution based on competition. I think this is what totally defines the red ocean and in the current world CEO across the planet have remained focused on it because they are familiar with the rules of the game and feel well prepared to compete. The blue ocean I believe is well designed to for creativity and capturing of new markets as methodical and actionable as possible just as there are fighting strategies to capture greater market share in the red oceans. despite the fact that the blue ocean strategists have existed since along ago, they have mainly been less sensible of their potential (Kim Mauborgne, 2004, p. 78). The blue ocean strategy hence searches for solution to this by discovering the patterns and principles of developing Blue Ocean and also set analytical frameworks and tools to enable the business managers to act once they perceive these ideas. The blue ocean is becoming very importa nt in today’s economy because the established markets are overcrowded yet they are shrinking again. There have been phenomenal technological success stories that have considerably improved the production of different firms allowing supplier to produce excess range of products. The trade barriers between nations have been reduced because of the free trade policies around the world. Businesses are able to easily access important information for competition. For instance, information regarding a number of products or brand in a particular industry and their prices is readily available in research journals and the internet across the globe the diversity has seen and monopolies disappear. Simply put, the supplies are overtaking demand and the situation is even faster characterized by price wars. We can’t rule out that the red ocean is no longer useful because it remains very important for a business to swim successfully by defeating opponents. The red ocean still matters an d remains a factor to reckon in business. However, with supply exceeding demand in a number of industries, competition for market share is restricted. Although necessary, Red Ocean will not be sufficient enough to sustain a business in the high performing environment. Companies have to look beyond competition. To seize new market space for greater profits and growth and expansion opportunities firms need to apply moves to help them swim to blue oceans. There has to be a good balance between the red and the blue ocean. A good example of the blue ocean strategy is the invention of the I-pod. Essentially this gadget was created out of an idea and not because of the market situation. This is one of a kind type of product that is not replicated. Applying blue ocean strategy is an ingenious idea where the creator or inventor has the right over that product and the producer has enough market for it (Kim Mauborgne, 2004, p. 79). Basically most firms that attempted this often failed because it is very difficult for people to understand the idea of a new concept. I think the I-pod must have been very successful because it was solely because of the fact that the CEO was very innovative in spearheading Apple to success by exploiting the digital media. He created a need and a product to satisfy that need. Steve Jacobs, the Apple CEO had a track record of great success and I feel if it were that he was just coming up with a new company from nowhere trying to sell the I-phone, it would have been very difficult to capital on the success of the new product. Self Evaluation The unique aspects I learnt from the Blue Ocean strategy are several. The first fact is that the strategy is based on three major conceptual ideas; value innovation good leadership and superior processes (Kim Mauborgne, 2008b, p. 2). These frameworks and tools to be used in the game are specifically and purposefully designed to be visual. This makes them this clear so that they can be used to build the col lective wisdom of the group as everyone can easily identify them. at the same time, these tools offer an efficient strategy to success to be executed via proper communication (Kim Mauborgne, 2008a, p. 2). I also learnt that for an integrated approach to business strategy like the one applied in Blue Ocean strategy, an organization or a company is required to develop and align the three major concepts of strategy implementation; the value of products, the profit and the people. The BOS has also taught me that even though it’s good to compete as in Red Ocean, success would not come only by trying to outperform business rivals in the existing marketplaces. However, greater achievement could be attained by creating new markets or blue oceans and therefore rendering competition irrelevant. The BOS is postulated under the famous reconstructionist theory and under this, it is the success strategy a company applies that shapes the kind of business structure it would have. The issue of marketing is supposed to be a continuous process and one that is full of innovation. This is what leads to development of new products. Unfortunately, this is not usually the case in reality. The idea of innovation and creativity seem to be endangered in certain industries. I learnt that the blue ocean strategy offer a way of leaping out of competition. The process on marketing should eliminate the factors that tie a business to B2B strategy (Kim Mauborgne, 2008b, p. 2). Learning from significant BOS moves, Guy Lalibertà © begun a business in circus and attained a greater success. The Cirque du Soleil did not succeed by competing for customers with other players in the circus industry who dominated children attractions. Rather the business established uncontested new market space hence no competition. It targeted new clients who were mainly adults in this case and corporate clients who were ready to pay premium prices for unique circus entertainment. The industry was very unatt ractive and shrinking when Cirque du Soleil entered but it reinvented the industry created space by challenging the tradition notion of competition. In order to improve this assignment, the cases that are related to the ideas of BOS should be accompanied with the assignment to give the students a wider understanding of what they are doing and how to do it. The video offer better visual feeling of the market space situation and helps the student to decipher shared or similar patterns across the various strategic moves. This is possible because the videos cover important ideas of the strategy especially the BOS moves which many people still miss. I am still unsure about how the BOS tools can be used for marketing in the Business-to-business marketing. Definitely I would recommend this Blue Ocean Simulation Strategy to anyone who would like to improve his/her tactics of developing new market space. I worked well and I believe that I have learnt a lot of tactics in marketing and creatin g blue oceans. I believe that the blue ocean strategy is applicable to a number of industries from all types of trades. This can range from typical businesses of consumer products, the service industry of entertainment, the technology industry like information technology, and more importantly the financial services industry. My experience is that there are two interesting findings with regard to the business environment. Some steps are taken away from the final consumer. The tradition style of competition has been that businesses view their products as commodities hence placing on them some little room for innovation. As such the companies find themselves in the self-fulfilling environment. Finally I learnt that the more a business was removed from the final consumer the more potential or room it had for innovation for the next direct party in the chain. Reference List Kim, C., Mauborgne, R., 2004. Blue Ocean Strategy, Harvard Business Review, Vol. 82, No. 10, Pp 76-84 Kim, C., Ma uborgne, R., 2005, Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant, Boston, MA: Harvard Business School Kim, C., Mauborgne, R., 2008a, Blue Ocean Strategy Solution, Introduction To Round Blue -2 STRATX Kim, C., Mauborgne, R., 2008b, Blue Ocean Strategy Solution, Introduction To Round Blue -3 STRATX Kim, C., Mauborgne, R., 2008c, Blue Ocean Strategy Solution, Introduction to Round Red STRATX Niciejewska, K., Dimitrov, D., 2008, Blue Ocean Strategy, Muniche, Grin Publishers This report on Blue Ocean Simulation was written and submitted by user Darnell Martin to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Can rejecting a job offer actually elevate your career

Can rejecting a job offer actually elevate your career Imagine going through the grueling process of creating your resume, optimizing your LinkedIn profile, applying to dozens of jobs, and going on a handful of interviews to finally be offered the job – only to turn it down! Are you insane? Why would anyone ever decline a job offer after going through all this? Maybe the salary wasn’t up to par. Perhaps the vacation time didn’t start for a year after you began. You may have found during the lengthy interview process that you just weren’t feeling the company’s culture. You may have even accepted a better job offer. But is it bad to decline offers? Will this hurt your career? Not necessarily. Rejecting a job offer may actually help elevate your career. Sharpens your negotiation skillsOne of the main reasons candidates turn down job offers is due to salary discrepancies. Unfortunately, you really can’t discuss how much you’ll be paid during your first interview before any job offer was extend ed. You may have only seen a salary range from the job description or perhaps no salary was listed at all.You went on the company’s multiple interview process expecting to make a certain amount but ended up being offered much less. Now is the perfect opportunity to negotiate your salary! Negotiating your salary is something that can improve your career and forces you to know what you’re worth in your industry. Knowing how to negotiate your salary during the interview will benefit you when you’re up for a promotion and want to negotiate your raise.Improves your interview skillsTurning down a job offer opens you up to interview at other places. Regardless of the rapid expansion of technology today, interviewing is a skill that isn’t going away anytime soon. Knowing how to effectively speak with different types of employers, who all have their own unique methods, will significantly increase your confidence and make you comfortable with the process. As a bonu s, the more interviewing you do will not only make you a better interviewee with other companies but will make you a better interviewer if you’re a manager and need to recruit new talent.Leaves the door open for better opportunitiesIn today’s digital world with companies and job boards regularly posting positions online, there are always opportunities out there, even during recessions. It’s not uncommon for professionals and executives to routinely go on interviews just to get a feel for what’s out there. They may initially have no intention of accepting the job offer if extended, but just seeking better opportunities and feeling the pulse of the current job market in their industry is invaluable.Makes you a more attractive candidateThe Chronicle of Higher Education published an article that showed interest from one company can serve as a leverage point or negotiation for another company. This is especially true when you’re in a specialized field w ith a select number of qualified candidates. I once worked as an executive recruiter where there was a frenzy in search of plastic injection molding engineers. These specialists were very difficult to find, and many companies were competing with one another to try and hire them. The plastic injection molding engineers would routinely decline offers, which only made them more appealing. Talk about a specialized field with a small talent pool!Teaches you how to say â€Å"no†Learning how to say no is an often-underrated but invaluable skill. Many CEO’s and top-level executives attend leadership training sessions to learn how to strategically say â€Å"no,† which has shown to enhance their abilities to work more efficiently since they’re constantly bombarded with proposals.One thing that’s essential when declining a job offer and saying â€Å"no† is to respond quickly to the job offer and be honest and polite. People will respect your honesty be cause it requires a lot of courage and takes responsibility. Learning to say no will sharpen your focus and keep you from making unnecessary mistakes because you may have been too polite to just say â€Å"no.†In the end, if you have any doubts about a position, then it clearly wasn’t meant to be. You’ll feel better knowing you made the right decision and that your gut was telling you the offer just wasn’t right. This newfound attitude will allow you to go after the job you’ve always wanted and push you to elevate your career goals. Being decisive and not regretting your decisions are characteristics of success. Trust your judgment, and you just might be surprised where your career path will take you.About the Author: Maria Gold is currently a Content Manager/Writer for Empire Resume. She is dedicated to helping educate people with the latest career articles and job search advice. When Maria is not working, she enjoys reading and spending quality ti me with her family.

Examine broken blossoms significance as an early example of Hollywoods Essay

Examine broken blossoms significance as an early example of Hollywoods portrayal of Asian culture - Essay Example Movies were being made showing both existing and new trends in life. In the light of these, movies such as Broken Blossoms were made with themes or aspects that reflected other cultures. In this 1900s, Hollywood did not offer Asian culture much positivity in their movies. In most cases, they were viewed as outcasts, strange, and mysterious. This does not mean that Hollywood held anything against Asians; rather, it is possible that due to its short-termed experience with the culture, it might have misunderstood or misinterpreted it. All in all, these are examples of the earliest inclusion of Asian Culture in Hollywood. The following study text will evaluate the 1919 American silent film and in it highlight the different examples of Asian culture as applied within it. The film revolves around Cheng Huan, a Chinese, who leaves for the Anglo-Saxon lands to spread Buddha’s message. Upon getting to London, his dream of spreading Buddhism is endangered by the reality that he finds there; that everyone is too preoccupied with their individual lives. As such, his chances of succeeding are low. He however finds a way through when he meets Lucy Burrows. Burrows is the daughter of a fierce boxer, Battling Burrows. She seems unwanted and mistreated by her father. One evening, she is beaten and sent away by her father and when she is out there, meets Cheng Huan. Huan nurses Miss Burrows and as she recovers, they develop a mutual relationship. They are similar in that both seem misplaced in society. Their relationship is interrupted when Battling hears of their relationship and goes to get her. He drags her home, drunk. Once in her room, she fears her father’s temper and contemptuous behavior and locks herself in a closet to escape him. Battling however finds her and beats her lifeless. Cheng pursues the tow and by the time he accesses her room, it is too late. Coincidentally, Battling bursts into Miss Burrows’ room as he wants

Was the Iraq War worth the human and material costs suffered by the Essay

Was the Iraq War worth the human and material costs suffered by the Allied coalition and Iraqi people - Essay Example The aforementioned suffered high costs various ways including social cost, economic cost, security cost and human cost, the most devastating of all being the human cost – it is literally breathtaking (Wallis, 2010). According to a 2004 study by the ‘Institute for Policy Studies and Foreign Policy In Focus’, between the commencement of war in March 2003 and September 22 the following year, 1,175 coalition forces lost their lives, comprising 1,040 United States’ military. Other deaths include those of contractors, civilian workers as well as missionaries, with their total estimates ranging from 50 to 90 lost lives, thirty-six of which were identified as Americans. This is in addition to uncalled for life termination of thirty innocent international Journalists, with eight of them being U.S. media companies’ workers (Antiwar.com, 2004). The study also revealed that following the U.S. invasion and subsequent occupation in Iraq, by June 16, 2004, deaths o f Iraqi civilians ranged between 9,436 and 11,317, with an estimate of 40,000 Iraqis sustaining severe injuries. This is in addition to approximately 4,895 Iraqi insurgents and soldiers who were killed during ‘major combat’ operations. There has also been a great health concern on the effects of using depleted uranium weaponry in Iraq.

What science is Essay Example | Topics and Well Written Essays - 500 words

What science is - Essay Example Science is not rigidly hierarchical or absolute, and McComas argues that the word hypothesis should be changed to the more accurate word prediction. I could begin to define the nature of science by saying it is a way of knowing (a process of observing the world), and add that scientific knowledge changes over time, is based on theories, and involves individual human imagination and creativity (Lederman 1998). Science is based on observations of the natural world which lead to generally proven theories. Although our understanding of the natural world can change, we should arrive at conclusions using the scientific method: proposing hypotheses and proving or disproving them by experiments. There are no permanent conditions, because experiments sometimes lead to changes in the hypothesis, and no single set of assumptions works across all the sciences. Formulating and testing scientific ideas to come up with new knowledge demands diligent collection of data and multiple experiments. Scientists ask questions, and knowledge gathered during the inquiry adds to society’s knowledge bank. The learning experience itself becomes an imperative, just as important as solving the problem. There are always elements of uncertainty in scientific inquiry, but the knowledge derived from it is relatively reliable (Nickels, Nelson, and Beard 1996). As scientists examine the information placed before them, with a particular question in mind and armed with the tools of scientific inquiry, they must always remember that research could disprove their theories. They must remain as objective as possible. They begin with questions, but should proceed to answer the questions using reliable methods: accurate and thorough data collection and multiple experiments. Alters and Nelson (2002) also present a view of how science is taught and realize some shortcomings in the teaching of science. High school biology is often the

Impact of Major Sports Events on the Economy

Impact of Major Sports Events on the Economy Introduction The use of sports markets to explore questions of economic interest has a long history as the majority of this literature analyses US sports, notably American football, basketball, baseball, and ice hockey, whilst there is also a considerable interest in soccer, the leading world sport (For example, the 1998 European Short Course Swimming, 1999 European Show Jumping and the 2001 World Half Marathon Championships). Over the past two decades there has been increased competition among cities, regions and countries to host mega sporting events Therefore Government and other proponents of major sporting events usually seek to back up their claims of the event providing an economic boost by commissioning an economic impact statement. For example, Economic Research Associates (1984) study of the Los Angeles Olympics, Humphreys and Plummers (1992) study of the Atlanta Olympics, and KPMG Peat Marwicks (1993) study of the Sydney Olympics. Hosting a sport event has revealed a number of benefits in our communities and of those benefits, some reasons like increasing community visibility, positive psychic income, and enhancing community image are all common and acceptable postulations. Economic impact in sporting events can be defined as the net change in an economy resulting from a sport event and the change is caused by activity involving the acquisition, operation, development, and use of sport facilities and services (Lieber and Alton, 1983)which in turn generate visitors spending, public spending, employment opportunities, and tax revenue. In study of economic impact Expenditures can be categorized as direct, indirect, and induced effects. For example direct expenditure is the investment needed to meet the increased demand of visitors for goods and services. Indirect effects are the ripple effect of additional rounds of re-circulating the initial spectators dollars. Induced effects are the increase in employment and household income that result from the economic activity fueled by the direct and indirect effects (Dawson, Blahna, Keith, 1993; Howard Crompton, 1995). Sports Economics possesses substantial experience in economic consulting to the sports industry, with specific knowledge of the economic impact of facilities, events, and teams so considering the publicity and scrutiny surrounding such studies, it is imperative to select a firm that not only has substantial experience, but also has a reputation for consistently providing an accurate assessment of economic impact. There are following reasons to conduct economic impact studies of sport events and Firstly, because many sport events in our communities were financed by public tax support, economic impact studies continue to be an important public relations tool for city government. Secondly, there is doubt that sporting events may actually help develop a community in relative to its economy therefore, accurate estimates should be proposed and the results should be reported to community members and Thirdly, as sport is not just an entertainment but an industry so the results of economic impact may be a cornerstone to develop many related businesses in communities. Finally, positive or negative economic results of sport events may be an important method to determine communities draft budget for the coming year so as an example in July of 2001, Beijing was awarded the 2008 Summer Olympic Games so most people assume that such an event will bring enormous economic benefits to the host city not just dur ing the event, but for years afterward. The scale of the organization, facilities and infrastructure required for such a huge undertaking are such that the Games cannot but have substantial economic effects (Sydney 2000 Games, p 2) but what exactly are these economic effects, and how do they affect the quality of life of local residents? The relevance of studies for example, it seems logical that a less developed country will have more to gain from long term growth opportunities. Matheson and Baade (2003) argue, however, that the prospects of mega-sporting events are even worse for developing countries and the opportunity costs of providing state of the art facilities are much higher and lack of modern infrastructure requires significant additional investment. This report examines the wider benefits that move beyond the economic impact and proffers the adoption of the balanced scorecard approach to event evaluation. Moreover, the data from the past economic impact studies were used to produce an economic impact forecasting model designed to predict the economic impact attributable to an event prior to it taking place. This Research have been developed by undertaking wider evaluations of some of the events, for example, the 1998 European Short Course Swimming, 1999 European Show Jumping and the 2001 World Half Marathon Championships. Beyond the economic impact generated by an event, these wider evaluations have also examined the public profile achieved by the events and looked in particular at the media value associated with television coverage and place marketing effects linked to such coverage. This Report also provides additional analysis which helps to put IPL event into context by: Outlining the generic economic benefits and return on investment to a countrys economy of hosting a major event such as IPL. Profiling IPL and comparing it to other similar international events in respect of the key elements underpinning economic impact. Identifying regional factors and drivers that may affect the economic impact of IPL in different regions Outlining the possible contribution to a Host Nations Government via taxation, as a result of hosting IPL, investment and cost associated with IPL. Literature Review on Economic Impact Studies Precursor The aim of this literature review is to understand direct and indirect impact of major sports events on economy and understand how major sports can open new dimension in economy. This has been done through referring various journals, articles and magazines; also a survey has been carried out as part of primary research to analyze impact of major sports event on Economy; however validation of data collected is subject to sources and prevailing conditions. Final phase of this study on IPL covers analysis of contribution of IPL to Indian economy, It analyze that how IPL has opened a new dimension for Indian economy to grow and attracts domestic and foreign investors. This phase also covers SWOT analysis of IPL, reasons critical to success of IPL and future ahead. Statement of Purpose Previously many research studies have contributed to understand economic impact of sport and/or recreational events; however most studies are based upon the researchers personal perception and arguable methodology. The purpose of this study was to review previous economic impact studies and to construct framework for conducting an economic impact study. This entire theoretical framework has been tested by analyzing a case study of economic Impact of mega sports events like Indian Premier League on Indian economy. Literature Review To study Economic impact of sports is challenging topic in the field of management fields because estimating the economic impact of sporting events and make some constructive statement is very difficult and subjective. Due to the subjective nature of social science, ideas and methodology vary from person to person for conducting economic impact studies. The main barrier behind conducting social science research is based on the level of competitiveness and belief in understanding of the material. and also social objects are hidden behind a screen of pre-constructed discourses which present the worst barrier to scientific investigation, and countless sociologists believe they are talking about the object of study when they are merely relaying the discourse which, in sport as elsewhere, the object produces about itself, whether through its officials, supporters or journalists (Bourdieu, 1999). Therefore, construction of truly scientific objects implies a break with common representation s, which can notably be effected by taking these pre-notions as the object of study so this report examines the wider benefits that move beyond the economic impact and proffers the adoption of the balanced scorecard approach to event evaluation. This consolidated piece of research builds on the original Measuring Success in 1999 which was based on the premise that major sports events have the potential to achieve significant economic impacts for the host town, city or area but economic impact is now one of the parameters upon which an events success is measured. Major sports events have the potential to achieve significant economic impacts for the host town, city or area, Countries, who host the mega sports event, should make a roadmap for significant investments in sports venues and other infrastructure. It is generally assumed that the scale of such event and roadmap of the preparation for it will create large and long lasting economic benefits to the host country. This would result in huge economic benefits that would have significant economic impact. However unfortunately these studies are constructed around misapplications of economic theoretical framework that virtually guarantee their projections will be large. Ex-post studies have consistently showed no evidence of positive economic impacts from mega-sporting events even remotely approaching the estimates in economic impact studies. For example, in the 2008 Summer Olympic Games in Beijing, China have put up huge investments in infrastructure and facility recreation to a new level. Th e opportunity for long term economic benefits from the mega sports event like Beijing, critically depend on how well mega sports events related investments in venues and infrastructure can be incorporated into the overall economy in the years following the Games In current scenario economic impact studies have become standard operating procedure for supporters of public funding for sports events. It has led to acceptance of their findings by the government and public due to their prevalence with no critical evaluation. Due to the huge investment involve in such high profile mega sports events, large and positive Economic effects are taken as given; the studies confirm what is already believed. The promise of worldwide exposure and economic gain has made hosting these major and regularly scheduled sporting affairs a lucrative goal for aspiring cities around the world (Short 2000, p. 320). Hosting a mega sport event like Olympic, has exhibited a number of large and long lasting benefits in our communities like enhancing community image, increasing community visibility and positive psychic income are all common and acceptable postulations. However, sport is not just limited to an entertainment, also it act as full fledge industry, the results of economic impact may be a cornerstone to develop many related businesses in communities. Positive or negative economic results of sport events may be a critical factor to determine communities draft budget for the coming year. Mega-events such as the Olympic Games require large sums of public money to be spent on venues and infrastructure improvements. Economic impact studies are often commissioned In order to justify the use of large sum of public money towards invariably large inflows of money that will have a long-term positive effect on the economy by such means as job creation and visitor spending. Scale of the mega sports event which attract large amounts of money from outside a local economy, are forecasted to have economic impacts in the billions of dollars The simple elegance of economic impact studies, injections of money circulating over and over in an economy to create a multiplier effect, has an alluring something for-nothing quality that is hard to refute. However to justify a counter argument can be difficult due to numerous mistakes made in economic impact studies. Critics have focused on numerous subjective areas like: 1) using multipliers that are too large, 2) treating costs as benefits, 3) ignoring opportunity costs and 4) using gross spending instead of net changes. In hosting mega sports event the major part of investment required on constructing stadiums, which to a large degree is spent on hiring construction workers and purchasing materials from local suppliers, is counted as a benefit to the local economy. However It is backward looking and the most egregious error in economic impact studies, which looks on production cost benefit of the project and ignores the effect of the actual consumption of the products on economy. Ex-post studies, however, have consistently found no evidence of positive economic impacts from mega-sporting events even remotely approaching the estimates in economic impact studies. In a study of the impact of Super Bowls on local economies, Philip Porter (1999) found no measurable impact on spending associated with the event. The projected spending and spill over benefits of regional impact models ever materialize (Porter 1999, p. 61) Porters explanation is that capacity constraints in the hotel industry cause room prices to increase with no change in occupancy rates. Higher rates contribute to the crowding out of regular traffic and net spending in areas other than hotel rooms changes little or not at all. Longer term sports programs, usually involving stadium subsidies to attract or keep professional teams, have also failed to deliver on projected economic benefits. Even for cities that usually are considered success stories for sports development strategy, such as Baltimore (Hamilton and Kahn 1997) and Indianapolis (Rosentraub 1994), empirical research does not find evidence of statistically or economically significant positive impacts. Sports economists, on the other hand, have found economic impact studies lacking both in theory and practice. Ex-post studies have consistently failed to find evidence of any economic benefits related to sports teams and facilities. In examining recent retrospective studies, Coates and Humphreys (2003, p. 6) concluded building new sports facilities and attracting new professional sports teams did not raise income per capita or total employment in any US city. A closer look at the methodology of such studies reveals an appealing but fundamentally flawed line of economic reasoning that virtually guarantees a forecast of large economic benefits. The term economic impact analysis refers to rigorous surveys, research, and modeling to estimate the direct and indirect economic effects of an entity or event on the local, county, state, or U.S. economy, as measured by employment, tax revenue, income, or gross product (overall economic output). The impact of an economic event is the summation of direct effects and indirect effects. For example, when a hundred dollars is invested in building a new library in a city, that money (the stimulus) flows through the local economy multiple times as construction supplies are purchased, and as construction workers spend their paychecks at local supermarkets, restaurants, and other retailers, who in turn buy more inventory, and so on. That is, an initial stimulus triggers a chain of spending. This chain of spending is estimated via multipliers. The term economic impact used in isolation can be interpreted in different ways in both the short term and long term. Therefore, in order to be clear what is meant in the context of the sixteen events reviewed in this report, UK Sport has adopted the following definition within its major events strategy: The net economic change in a host community that results from spending attributed to a sports event or facility. Turco Kelsey (1992) The change is caused by activity involving the acquisition, operation, development, and use of sport facilities and services (Lieber Alton, 1983). These in turn generate visitors spending, public spending, employment opportunities, and tax revenue. Specifically, the economic impacts of expenditure are composed of direct, indirect, and induced effects. Direct effects are the purchases needed to meet the increased demand of visitors for goods and services. Indirect effects are the ripple effect of additional rounds of re-circulating the initial spectators dollars. Induced effects are the increase in employment and household income that result from the economic activity fueled by the direct and indirect effects (Dawson, Blahna, Keith, 1993; Howard Crompton, 1995). The initial construction of a $10 million sports facility provides an initial impact of $10 million on the local economy. This is the direct impact. Clearly, the construction of the facility will require concrete, steel, co nstruction workers, and so forth. The money spent on these materials and services comprises the indirect expenditures, or the indirect impacts. (Hefner 1990, pp. 4-5) In high level terms economic impact studies aim to measure the increased economic activity surrounding an event. For sporting events, the key stimulants of activity are the expenditure of spectators, event organisers and other stakeholders, which flow through the local economy to expand total regional and national GDP. The diagram below illustrates the principal components of economic impact. There are three broad areas in which impact will occur, as follows: Core impacts primarily comprising expenditure by, or generated from, international spectators attending sports events from tickets and match day catering; Other direct impacts comprising spending by spectators and other visitors on accommodation, food and beverage, transport and other spending, as well as investment in infrastructure; and Indirect and induced impacts relating to the ripple effect as the direct spending is recycled through the economy. The primary components are indirect impacts, achieved largely by businesses spending on suppliers, and induced impacts, as recipients reinvest money in the economy themselves. In addition, there is also significant expenditure by domestic residents. Domestic spending comprises an important element of the full value of sports event to a Host Nation. Economic impact is based on the theory that a dollar flowing into an economy, that otherwise would not have been spent, is a benefit to the economy. Economic impact studies not only measure economic impact, but are also used to provide information in the decision to publicly fund sports venues or sports commissions/authorities, or to measure the success of events hosted in a local community in generating positive economic outcomes for both the event owners and the locale. Economic impact analysis measures new spending in a local economy due to the presence of, for example, a facility or an event. The change in the economy is measured in terms of total new spending, fiscal impact (total new taxes collected), personal income generated, and jobs created, both directly and indirectly. By increasing the new money in an economy, the economic benefit is serving a greater good by increasing government tax revenue, augmenting business income, and ultimately resulting in more jobs and higher personal income for residents of that economy. In developing the model there are specific regional factors and drivers that will have an influence on the economic impact The diagram below illustrates the key components in determining the potential economic impact : Event Economic Effects/Impacts (Pre-event Post-event phases) Economic growth (GDP) and impact Targeted growth in economic relevant sectors Direct and indirect employment created Direct, indirect and induced impacts (Multipliers Analysis) Economic-social Net Present Value Touristy flows (visitors economy) Olympic legacy (stadia infra-structures) Globalization (Global branding exposure) Sports Economics possesses substantial experience in economic consulting to the sports industry, with specific knowledge of the economic impact of facilities, events, and teams. Considering the publicity and scrutiny surrounding such studies, it is imperative to select a firm that not only has substantial experience, but also has a reputation for consistently providing an accurate assessment of economic impact. Sports Economics methodology is sound and defensible, and we are qualified to and capable of affirming our results to any audience necessary The benefit in economic terms to a host economy is defined according to the additional expenditure by visitors to that economy which is directly attributable to the staging of the event. These visitors can come from elsewhere in the same country or from overseas. If the visitors come from elsewhere in the same country, any economic impact is actually a redistribution of money around that countrys economy and is not necessarily new money to the economy. Visitors from overseas actually provide new money in the form of invisible exports and potentially a net export effect on overall GDP. One might argue that the quality of economic impact can be gauged according to the net export effect associated with an event, namely the extent of any new money brought into the UK economy from overseas visitors (and other sources) as a result of staging an event. However, this may be of little concern to local organisers who do not care whether any additional expenditure is attributable to someone fro m for example the USA or elsewhere in the UK, hence redistribution is not an issue. The main point of note is that only some people are eligible for inclusion in the economic impact calculations i.e. visitors to the host city or area specifically as a result of an event being staged. The remainder live locally and their expenditure would have been made regardless of a specific event taking place, hence such expenditure is termed deadweight and not eligible for inclusion in the calculations. Obtaining a value for the initial impact of a team or event is the first step in any economic impact study. The initial impact is then magnified through the use of a multiplier, based on the idea that money brought into a local economy will be respent over and over, becoming income for others in the economy. In this way a multiplier also magnifies the errors made in calculating initial impact, especially by once again failing to recognize opportunity costs. The multiplier is applied to any new spending in the economy regardless of the source. If the multiplier does not depend on the spending source, then it is useless in the comparison of alternative projects. The multiplier effect accounts for the overall economic impact of a sport event. The multiplier effect demonstrates the process through which initial spending in a region generates further rounds of re-spending within the region. The ripping process of subsequent re-spending is the multiplier effect. The basic principle of the multiplier effect begins with an initial spending as an increased income into an economy. A portion of the increased income is spent and further re-spent within the region (Archer, 1984; Crompton, 1995; Wang, 1997). In summary, there are three elements that contribute to the total impact of visitor spending: Direct impact (the first-round effect of visitor spending), Indirect impact (the ripple effect of additional rounds of re-circulating the initial visitors dollars), and Induced impact, which is further ripple effects caused by employees of impacted business spending some of their salaries and wages in other business in the host community (Howard Crompton, 1995). A variety of multiplier used modeling techniques are available: TEIM (Travel Economic Impact Model), RIMS (Regional Input-output Modeling System) (Donnelly, Vaske, DeRuiter, Loomis, 1998; Wang, 1997), TDSM (Tourism Development Simulation Model) (Donnelly, et al., 1998), RIMS II (Regional Input-output Modeling System, version II) (Wang, 1997), ROI (measuring financial Return On Investment) (Turco Navarro, 1993), and IMPLAN (Impact Analysis for Planning) (Bushnell Hyle, 1985; Dawson, Blahna, Keith, 1993; Donnelly, et al., 1998; Howard Crompton, 1995; and Wang, 1997). Of those modeling techniques, IMPLAN is one of popular methods. The IMPLAN model was developed by the U.S. Forest Service and Engineer Economics Associates, Inc. The IMPLAN develops input-output models for all states and counties in the United States. This model was used to estimate the employment, income, and net sales and adopted as the regional impact analysis program-of-choice. Another often-used model is RIMS, whi ch was developed by the U.S. Department of Commerce, Bureau of Economic Analysis (BEA). This model also offers input-output tables down to the country level (Turco Kelsey, 1992). Also, a lot of simple formulas were developed to conduct economic impact study of sport events by local sport commission companies. In addition to the standard projections of economic impact, Olympic studies also include longer term benefits sometimes referred to as the Olympic Legacy. These legacy effects, derived from positive publicity from the Games, include increased tourism after the Games, attraction of business, and infrastructure investments that improve the urban environment. Legacy impacts are generally not incorporated into the economic impact numbers, but rather offered as an additional, unquantifiable benefit. The lack of any ex post study that finds improvements in economic growth or living standards due to mega events should cast some suspicion on the legacy effects of Olympics, or at least the ability of such effects to be transformed into real economic benefits to the local economy. Baade and Matheson (2002) found the evidence suggests that the economic impact of the Olympics is transitory, onetime changes rather than a steady-state change (p. 28). Empirical Analyses of Economic Impact Statements It is one thing to point out bias that could potentially be introduced in impact studies. It is another thing altogether to examine whether actual economic impact studies are, in practice, truly flawed. One tool that can be used to determine the accuracy of economic impact studies is ex post comparisons of predicted economic gains to actual economic performance of cities hosting sporting events. Empirical studies have been conducted on the observed economic impacts of large sporting events as well as on the construction of new sport facilities. On the sport facility side, numerous researchers have examined the relationship between new facilities and economic growth in metropolitan areas (Baade Dye, 1990; Rosentraub, 1994; Baade, 1996; Noll Zimbalist, 1997; Coates Humphreys, 1999). In every case, independent analysis of economic impacts made by newly built stadiums and arenas has uniformly found no statistically significant positive correlation between sport facility construction and economic development (Siegfried Zimbalist, 2000). This stands in stark contrast to the claims of teams and leagues, who assert that the large economic benefits of professional franchises merit considerable public expenditures on stadiums and arenas. On the events side, nearly every national or international sporting event elicits claims of huge benefits accruing to the host city. For example, the National Football League typically claims an economic impact from the Super Bowl of around $400 million (National Football League, 1999), Major League Baseball attaches a $75 million benefit to the All-Star Game (Selig et al., 1999), and the NCAA Final Four in Mens Basketball is estimated to generate from $30 million to $110 million (Mensheha, 1998; Anderson, 2001). Multi-day events such as the Olympics or soccer World Cup produce even larger figures. The pre-Olympics estimates for Atlantas Games in 1996 suggested the event would generate $5.1 billion in direct and indirect economic activity and 77,000 new jobs in Georgia (Humphreys Plummer, 1995). In many cases, variation in the estimates of benefits alone raises questions about the validity of studies. A series of economic impact studies of the NBA All-Star game produced numbers ranging from a $3 million windfall for the 1992 game in Orlando to a $35 million bonanza for the game three years earlier in Houston (Houck, 2000). The ten-fold disparity in the estimated impact of the event in different years serves to illustrate the ad hoc nature of these studies. Similarly, ahead of the 1997 NCAA Womens Basketball Final Four, an economic impact of $7 million was estimated for the local economy in Cincinnati, while the same event two years later was predicted to produce a $32 million impact on the San Jose economy (Knight Ridder News Service, 1999). Such increases cannot be explained by changes in general price levels or growth in the popularity of the tournament. Instead, they are explained by the fact that economic impact studies are highly subjective and vulnerable to significant error as well as manipulation. In further cases, the size of an estimate can strain credulity. The Sports Management Research Institute estimated the direct economic benefit of the U. S. Open tennis tournament in Flushing Meadows, NY, to be $420 million for the tri-state area, more than any other sporting or entertainment event in any city in the United States; this sum represents 3% of the total annual direct economic impact of tourism for New York (United States Tennis Association, 2001). It is simply impossible to believe that 1 in 30 tourists to New York City in any given year are visiting the city solely to attend the U. S. Open. Similarly, the projected $6 billion impact of a proposed World Cup in South Africa in 2006 would suggest that soccer games and their ancillary activities would represent over 4% of the entire gross domestic product of the country in that year (South Africa Football Association, 2000). As in the case of sports facilities, independent work on the economic impact of mega-sporting events has routinely found the effect of these events on host communities to be either insignificant or an order of magnitude less than the figures espoused by the sports promoters. In a study of six Super Bowls dating back to 1979, Porter (1999) found no increase in taxable sales in the host community compared to previous years without the game. Similarly, Baade and Matheson (2000) found that hosting the Super Bowl was associated with an increase in employment in host cities of 537 jobs, for a total impact of approximately $32 million, less than one-tenth the figure trumpeted by the NFL. In a study of 25 Major League Baseball all-star games held between 1973 and 1997, Baade and Matheson (2001) found that, in the case of three all-star games in California (1987, 1989, 1992), the events were correlated with worse-than-expected employment growth in host cities and were furthermore associated w ith an average reduction in taxable sales of nearly $30 million. Finally, Baade and Mathesons examination (1999) of the Olympic Games held in Los Angeles in 1984 and Atlanta in 1996 found total observed increases in economic activity of $100 million and of $440 million to $1.7 billion, respectively. While the range of the economic impact for Atlanta exhibits a great deal of uncertainty, even the most favorable figure is only one-third of the amount claimed by the host committee. Tax impact With its large economic footprint, long duration and significant international visitor numbers, mega sports event delivers substantial tax revenues to a Host Nations government. This section outlines the potential types of tax revenue that can accrue to a sport event host government and an indication of the possible levels of such tax revenue. In summary, the tax revenues to the government of the Host Nation include: Sales t

The Snows of Kilimanjaro Essay example -- essays research papers

It is my claim that Ernest Hemingway’s piece, â€Å"The Snows of Kilimanjaro† is most effective at showing how trivial life can be as it regards to what people think is needed to be successful in life for three main reasons. The reasons are that people put too much time into achieving unrealistic goals, people get too involved in obtaining their goals and do not appreciate what they have, and people have the wrong idea about success and can not obtain true success with the wrong vision of what it is. Some people put too much time into achieving their unrealistic goals, and never realize them and then end up wasting most of their life and lively hood in search of their personal success. Those same people also never stop to appreciate what they have in their lives, when all they were trying to obtain could have been in front of them and all they ever wanted. Most goals that people believe make them successful do not, many people have the wrong idea of what success is and when someone dies this is the only time they will realize what actual success is. Hemingway’s story begins with Harry and his wife on Kilimanjaro arguing over many petty things. Harry had gotten into an accident and scraped his leg while they were on their hunting trip. The wound got infected, even though Harry put some medication on it, the wound soon started to become gangrene. He is lying on a cot for the whole story while he continues to bicker with his wife. Many Vultures are around and Harry makes comments on how they must smell the leg, and that is what attracts them to him. Harry has many recollections of events through out his life, he referred to them as the topics he wished he would have written about. Through all of Harry’ recollections of his life he wonders where all his time went. He starts to think about how he has wasted he life and talent with the â€Å"enemy†; money, rich women, and soft living all symbolizing the forces of corruption. The story ends with Harry getting â€Å"rescued† by men in a plane that had landed near them, which the reader soon finds out it was just Harry’s dream as he actually dies. His wife is awoken by a hyena that had fallen off a cliff that was making a human-like cry. When she goes to check on Harry, she finds that he has stopped breathing, and the hyena continues to make the sound that had waken her ... ...e â€Å"good life†, and has painful memories that he will overcome to be rewarded. Harry does share many characteristics with Hemingway’s other characters but he is different in that his profession does not take the form of deep sea fishing or war or bullfighting but of writing. He is also different in that he is rewarded "in the other world." All the other Hemingway heroes must be and are "rewarded" here in whatever private or public form the reward may take. Hemingway’s piece clearly shows how trivial life can be in regards to what is thought to be needed to be successful. The reasons are that people put too much time into achieving unrealistic goals, people get too involved in obtaining their goals and do not appreciate what they have, and people have the wrong idea about success and can not obtain true success with the wrong vision of what it is. Harry clearly illustrates all of those points and the reader can learn from his â€Å"mistakes†. One should have a clear, realistic image of success before they waste their time and effort to obtain it. Success can only be obtain and kept in this world, it can not go with someone when they die.

Mathematics and Time

Calculation of Labour Utilization: No. of total employees = 22 No. of assistant supervisors = 4 Time used by assistant supervisors for production process = 100% -10% = 90% Therefore, the total available labour = 18 + 0. 9*4 = 21. 6 Maximum labour hours/ month = No. of days*labour hrs available/day*total available labour = 20*8*21. 6 = 3456 hrs Actual labour hours used = 1531. 7 hrs Capacity Utilization = Actual labour hours used/ Maximum labour hours available = (1531. 7/3456) * 100 = 44. 32% This figure does not include the time taken by labour to rework on the parts rejected or returned by the customer.Hence, the actual labour utilization would be more than the above calculated figure. However, we believe that the above time signifies the actual time spent by labour in producing or working on new parts. 2) Profile operation (Fabrication) – Break even analysis: Let the optimal order size be N boards a) Using Punch Press: Total Operating Time = Setup time + Cycle Time*N = 50 + 1*N = 50 + N b) Using CNC router: Operating Time = Setup time + Cycle time*N = 150 + 0. 5*N= 150 + 0. 5N We would use the CNC router when its operating time is less than that of the punch press. i. e. 150 + 0. *N ? 50 + N => 0. 5*N ? 100 => N ? 200 => N ? 200 boards Thus, for orders above 200 boards, the CNC router should be used as it will take less time and hence, would produce more number of boards.3) Drilling Operation (Image Tranfer) – Break Even Analysis Let the optimal order size be N boards a) Using Manual drill: Total Operation Time = Setup time + Run time = 15 + 0. 08*500*N = 15 + 40N b) Using CNC drill: Total Operation Time = Setup time + Run time = 240 + 0. 004*500*N = 240 + 2*N We would use the CNC drill when its operating time is less than that of the punch press. . e. 240 + 2*N ? 15 + 40*N => 38*N ? 225 => N ? 5. 92 => N ? 6 boards Therefore, for orders with size above 6 boards or more, CNC drill should be used as it will take less processing time and hence would increase the capacity. In addition to this we can also calculate capacity utilization using the available run time. As shown in Table 1, the bottle neck is the drilling operation. Thus the maximum number of boards that can be produced is limited by the capacity of drilling( which is 6359) inclusive of CNC as well as manual drilling.