Benefits of E-Recruitment on Human Resource Supply Chain Management Dissertation

Benefits of E-Recruitment on Human Resource Supply Chain Management - Dissertation Example The researcher has taken help of diffusion of innovation theory (DIT) in order to formulate the research model. Findings – Benefits of e-recruitment such as cost efficiency, broader access to potential candidate’s profile and short recruitment cycle can positively increase efficiency for human resource supply chain management for Indian healthcare companies and also can help them to achieve competitive advantage in terms of profitability and return on investment. Originality/value – This research will try to shed light on relational matrix between e-recruitment and human resource supply chain management in terms of Indian healthcare industry perspective, the research problem for the study is ignored by the previous researchers for a long time. Findings of the researcher will create not only scope for future researchers but also help companies to decide e-recruitment strategy. Keywords – E-recruitment, Recruitment, Human resource management, Health care ind ustry, India Paper type- Research paper Table of Contents Table of Contents 3 Chapter 1: Introduction 4 Chapter 2: Project approach 5 Chapter 3: Literature review 6 Chapter 4: Critical evaluation and analysis of the data 11 Chapter 5: Discussion 26 Chapter 6: Conclusion 29 Reference 31 Appendices 38 Chapter 1: Introduction According to research scholars such as Ensher et al (2002), paradigm shift of traditional human resource strategy to e-HR strategy is a major breakthrough in the field of human resource management. Ensher et al (2002, p. 238) have defined e-HR policies as, â€Å"increased emphasis on HR as a strategic business partner whose primary challenge is to recruit, develop and retain talented employees for the organizations.† Other research scholars such as Lengnick-Hall and Moritz (2003) and Ulrich (2000) have stated that e-HR policies and e-recruitment not only help companies to reduce time and cost regarding recruiting employees through â€Å"HR middleman† but also help make HR professionals more competent by challenging them to learn new technological applications. On the other hand, Joyce (2002) and Dixon (2000) have pointed out that, e-recruitment or recruiting employees by using the internet has become a revenue generating options for third party recruiters. E-recruitment has become latest buzzword in service sector of India and other South Asian countries, South-East Asian countries (Labanyi, 2002; Fisher, 2001; Gomolski, 2000 and Galanaki, 2002). Teo (2001), Sanchez-Franco and Roldan (2005), Liu and Wang (2007) and Karlsen et al (2006) have found that, e-recruitment system with less technological complexity attracts more job seekers, hence it is a challenge for organization to build an effective e-recruitment strategy which is simple but effective. According to the limited knowledge of the researcher, very few researchers have tried to understand benefits of e-recruitment in context to Indian healthcare service industry; such g ap in the literature has encouraged the researcher to develop following research objectives. 1.1 Research objective To investigate how benefits of

Egyptomania Essay Example | Topics and Well Written Essays - 500 words

Egyptomania - Essay Example Egyptomania mainly covers Egypt’s history, its race, state of arts, and the ancient commodities that were dealt in ancient Egypt. Appropriation in Contemporary Art in the Modern Culture Appropriation is the act of borrowing and reusing ancient Egypt’s art in modern culture either to pay tribute or to remember the past. Images of the Egyptian culture include well recognize arts, literature, and images without manipulating their form but by simply capturing them. This results in influence to the modern culture of the arts their architecture popular in the form of pyramid pictures some on the American Dollar. Egyptian themes are incorporated in modern day Islamic religions that are mostly decorated with Egyptian murals. The ancient Egypt is still among us as much of the philosophy originated there from the great philosophers such as Hermes Trismegistus and other ancient elite men from Egypt. These philosophers are believed to have invented world religion that spread all ov er the world due to the activities of movement and interaction habits of ancient Egyptians. Why and How Are Egyptian Motifs Being Appropriated One of the reasons artists choose to appropriate Egyptian motifs is that they are great pieces of work from an ancient creative world. This appropriation has seen its influence in the art of architecture around the world. It is believed that Egypt is still the influence of modern architecture in building as they were the first ones to come up with imperial building designs.

Gastric Bypass Term Paper Example | Topics and Well Written Essays - 1250 words

Gastric Bypass - Term Paper Example Gastric bypass has also been determined to be more effective than dieting in case of diabetic patients. In addition, other conditions such as sleep apnea, asthma, high blood pressure, gastroesophageal disease and heart disease risk have also found to improve with weight loss. However, the surgery is also associated with many risks. Hence, following a gastric bypass, an individual will be able to feel lighter and more efficient (Bhimji). Gastric bypass surgery is mainly performed to help people reduce weight only in case of obese people who are unable to lose weight through diet and exercise. However, this bypass surgery does not guarantee permanent weight loss as both diet restrictions and exercise should be continued even after surgery. The surgery is mainly recommended for individuals who are mentally strong with an inclination to reduce weight and stay healthy and who do not consume alcohol or other drugs. In addition, their body mass index (BMI) should be more than 40 as these in dividuals tend to have a 100 pound excess weight than others. In cases where the BMI is 35 or more and if the individual suffers from problems such as apnea, diabetes and heart problems surgery is recommended for these individuals (Bhimji). Any type of gastric bypass surgery involves two basic steps: the stomach is first shortened into a shorter upper region, which is referred to as a pouch, and a larger lower section with the help of staples and then a bypass is made between the lower end of the jejunum of the small intestine and a hole created in the pouch. As the jejunum is the region of the small intestine that connects it to the stomach, food entering the small pouch of the stomach will now enter the jejunum bypassing the remaining larger portion of the stomach (Bhimji). There are two major types of gastric bypass surgery, the most commonly performed Roux-en-Y gastric bypass (RGB) and extensive gastric bypass surgery (biliopancreatic diversion). The first type of surgery involv es connecting the pouch region of the stomach with the lower end of the jejunum thus bypassing the duodenum and the initial portion of the jejunum. This procedure is now effectively carried out by laparoscopy, which is a less invasive procedure involving smaller incisions and the recovery time is also rapid (Goldstone). Thinner surgical instruments are passed via a laparoscope to carry out the bypass. Both the hospital stay and the recovery period are quicker along with the advantage of reduced pain and lesser scars from the surgery (Bhimji). The extensive bypass procedure is a more complicated surgery in which the lower portion of the stomach is removed completely and the small pouch region of the stomach is directly connected to the last segment of the small intestine thereby bypassing both the duodenum and the jejunum regions. While this method aids in weight loss more effectively, it is also associated with nutritional deficiencies to the lack of absorption of important nutrient s (Goldstone). Both the above surgeries are carried out under general anesthesia. Following the surgery the size of the stomach will be considerably reduced and satiety levels will be reached with lesser food intake (Bhimji). Despite the various advantages associated with the surgery, it also suffers from several risks encountered either during the surgery or post-surgery. The risk of surgery increases if the individual is unable to walk even for short distances, in case

Globalization in the 1970s Essay Example for Free

Globalization in the 1970s Essay Globalization is not a new concept as there have been numerous cycles of globalization stretching as far back as the ancient civilizations. The wave of globalization prior to the oil embargo was after the Second World War. Although this period was marked with rapid economic growth, it came to an end in 1973 after the Arab oil embargo that resulted in a rise in oil prices. Financial globalization particularly can be termed as the integration of country’s local financial system with international financial institutions and markets. The main agents of financial globalization are the governments and hence they need to liberalize any restrictions on their domestic financial sector and capital account of the balance of payments if any form of integration is to take place (Schmulker, 2004:5). Dammasch (2010: 4) asserts that the economic environment in times of globalization changes rapidly with capital movements becoming larger and less controllable. Therefore there is usually a need to create a stabilizing system. The situation after the Second World War which was marked by falling credit institutions, mass unemployment, hyperinflation and bankruptcy of enterprises brought about such a necessity. The Bretton Wood system thereby came into creation. Bretton Woods’s agreement of 1944 was part of the decision by the industrialized countries to restructure themselves after the Second World War and the difficulties encountered especially after the First World War for the purpose of financial globalization. There was a great need for these nations to come up with workable rules and regulations which would direct them in the formulation of national policies that would facilitate the pursuit of common economic objectives (Kenen, 1994:11). The necessity and urgency of this legal structure was collectively agreed upon and accepted as it was viewed as a way of avoiding the negative effects that had marred the inter-war period (King, 2003:30). The Bretton woods years that spanned from 1946-1971 are seen in retrospect as a golden age of capitalism with exchange rate stability and rapid economic growth (King, 2003:30). This is because the system ensured that value of price increases was just and that the exchange rates remained fixed for unlimited periods in all key industrialized countries. Moreover, the national income in the G7 countries rose more rapidly than in any other comparable period. The system ensured long-run price stability for the whole world because the fixed price of gold provided an ostensible anchor to the world’s money supply. Therefore by pegging their currencies to gold, individual nations fixed their prices levels to that of the world (Bordor et al, 1993:1). King, 2003:30 emphasizes that the Bretton Woods system had two main characteristics which were: the existence of a set of rules that consisted of fixed rates of exchange, capital controls and independent policies of domestic macroeconomics on one hand and US domination on the other hand. Capital control as was stipulated in the Bretton Woods system was officially authorized and every government was highly encouraged and had the right and obligation to control its movement of capital. Capital control is the ability of the government to control the in and out flow of capital to and from their country. This meant that bank discount rates were not necessary when the central bank wanted to attract capital inflows or avoid flight of capital. As a consequence, the bank rate is maintained as low as possible (King, 2003:31). However, a country’s domestic economy can be adversely affected through inflation by in and out rapid flow of capital together with fixed rates of exchange. Capital controls essentially prevent rapid outflow of capital and can equip governments with the ‘tools’ to prevent economic crisis in the future. In this system capital control played a significant role whereby it effectively regulated the fixed exchange rate system that had been agreed upon by members during the Bretton Woods agreement. Whenever exchange rates required adjustments capital control was an integral component of the adjustment mechanism. These controls were fundamental to the reconstruction and growth of the international trading system that had been devastated by global depression, the two world wars and hyperinflation. This meant that capital flow was highly restricted with countries prohibiting convertibility. In capital control, currency non-convertibility was the most restrictive form of control. The government was the only one permitted to have the exclusive authority to hold foreign currency and to also to give it out to importers that had been approved by the government. Countries that fixed their exchange rates at levels that were unacceptable could therefore be monitored through this system (Eicher et al, 2009:470). Kitschel (1999, p. 38) further expounds that the capital controls were viewed as instruments of exchange rate stabilization and also as means of securing full employment and other national economic priorities. Additionally the system condoned the controls not only for short term management of balance-of –payment crises but also for the purpose of domestic economic management. The limited capital-account convertibility was the most common form of restriction. It enabled the system to place limits and know who had the right and accessibility to foreign exchange rates. Moreover, qualitative restrictions were also put in place which urged for the limitations on the external asset and liability position of domestic financial institutions. The controls were also placed on foreign banks domestic operations as well as on resident firms’ and on individuals’ direct savings, collection of foreign possessions and real estate property. Dual or multiple exchange rate system was another form of capital control that involved discrete rates for either commercial or financial transactions (Kitschel, 1999:39). Therefore the system allowed members to regulate international capital movements as long as they did not restrict payment for current external transactions. Although currencies would be freely convertible into one another after a transaction period, members were allowed to place capital controls on currency transactions if such capital flows threatened to overwhelm the nation’s balance on payment or exchange rate stability (McNamara, 2003:75). Forces challenging the system Although the Bretton Woods system was important to the economic prosperity after the Second World War, it nevertheless failed to support the equally rapid growth in the advanced countries over the next 25 years. One of the reasons according to Kenen (1994, p. 7) is the fact that the permanence and malleability of the system was slowly being destabilized by the postwar system. There were two vital roles of the Bretton Woods system. The first goal was geared towards producing exchange rates that were stable through the use of capital control and the second goal was meant to shield member nations from the shifting demands brought about by the flow of gold. Nonetheless, these goals highly contradicted each other because the system could not guarantee that global prices would remain stable as it lacked an effective technique. Additionally, the founders of the Bretton Woods system explicitly designed the system in an effort to disentangle international monetary relations from power politics. Nonetheless postwar monetary relations were highly politicized and required constant political interventions to keep the system functioning smoothly. Another flaw of the Bretton Woods design was that it lacked an effective, automatic mechanism to adjust and settle payment imbalances that inevitably arose between surplus and deficit countries. Under this system, a country that had a payment deficit most probably lost its gold which decreased the domestic monetary base and resulted in a decline in the currency’s purchasing power. Inevitably, the country’s imports would fall, exports would rise and the payment would eventually balance. However, the loss of gold and the decrease in money supply also meant that there would be a fall in the cumulative domestic demand, which meant deflation or even the possibility of depression. These structural problems assured that chronic balance of payments would mushroom into full-scale political problems, both domestically and between nations (Gavin,:6). Originally, the Bretton Woods system was designed to produce stable exchange rates while at the same time shielding national economies from demand shifts produced by the flow of gold (Gavin,:6). The founders wanted to set monetary arrangements that could combine the advantage of classic gold standard i. e. the exchange rate stability with the advantage of floating rates i. e. the independence to pursue national full employment policies. They mainly sought to avoid the defects of floating rates (destabilizing speculation and competitive beggar-than-thou-neighour policies). The disadvantage of fixed rates is that individual nations were exposed to both monetary and real shocks transmitted from the rest of the world via the balance of payment and other channels of transmission. The common world price level under the gold standard exhibited secular periods of deflation and inflation which reflected shocks to the demand for and supply of gold (Bordo et al, 1993:1). Countries like Germany and Japan were reluctant to import foreign inflation and this could have attributed to the eventual collapse of the system. In the long run this broke the credibility of the fixed exchange rate commitment among countries and the willingness of the central bank of several countries to cooperate in order to maintain the fixed parities. In other words the system failed because the commitment by the US of fixed equality was not reliable due to the inflation that was accelerating (King, 2003:33). The collapse of the Bretton Woods system is also related to the increasing speculative capital flows. With time as the dollar continued to decline, the US economy was unable to assure other countries that the dollar could be converted to gold at the fixed parity. In this view, the collapse of the system was related to the escalating in and out movements of capital and the lack of capacity of the dominant country, the US to control them (King, 2003:32). In conclusion the end of the Bretton Woods period can be said to have come when President Richard Nixon finally suspended the official conversion of the dollar into gold at $35 an ounce, shut down the gold window and cut the exchange rate system loose. Importance of the Euromarkets The growth of the Euromarkets has been directly linked to the expansion of the US multinational firms, and the consequent expansion of US banking abroad. This growth of the market and its development coincided with the increasing pressure of the US economy and the recoveries witnessed in the capitalist economy. The Eurodollar market therefore took over aspects of a developed domestic credit system since it was operating globally and independently from the central banks. Therefore, Britain which was a low-productivity and low-wage country became the center of global finance due to the contribution of the Eurodollar market. London developed as a center of global circulation of capital and hence became the world’s leading Eurodollar market. The regulation of the currency which allowed the partial and finally the full convertibility of the pound for those who were neither residents of the dollar or the sterling are some of the factors that brought about the growth and development of the Eurodollar market (Patel, 2007:1). This market was deemed important as it helped in redistributing surplus liquidity, in facilitating adjustments of internal liquidity in countries whose monetary systems rely on the import and export of short term funds through banks as a major monetary regulator. The Eurodollar market also helped to maintain world business activity at a high level by the availability of short term working funds. The Nixon Shock The Nixon Shock is termed as a series of economic measures that were taken by the then US president Richard Nixon in 1971. This decision was reached upon by various events which included: the Vietnam War that had become too costly and had drained the gold reserves of US, the increased domestic spending that accelerated inflation, the balance of payment deficit by US and trade deficit (Engdahl, 2003:1). Additionally, the US dollar foreign arbitrage had also caused the governments gold coverage of the paper dollar to decline by 33 points from 55% to 22%. Therefore in 1971, President Nixon imposed tariffs on all imports of 10 per cent to help reduce the trade deficit though it was removed in December the same year. At the same time, a freeze was put on wages and prices for a period of 90 days in a bid to lower inflation with the Federal Reserve Swap ending its support for other central banks. The convertibility of the dollar into gold was also ended and a limitation on gold transactions was put implying a decrease in the value of the dollar. This announced detached the US from the Bretton Woods system which collapsed from operation. After the gold convertibility of the dollar was suspended and flexible exchange rates emerged (James, 2010:1). After the Nixon shock, the US realized that it could exert more global influence through US treasury debt than from trade surpluses. In the 1970s oil was the only key commodity traded in dollars. This was due to the fact that the dollar was the only currency with the highest purchasing power and the only one that was backed by gold (Dammasch, 2010:6). As a result the US realized that the other nations would continue to demand for dollars for them to buy oil which was by now inflated in price. Thereafter, US trade partners had so many dollars in their reserves that they feared to create a dollar crisis. Instead they inflated and eventually weakened their own economies to support the dollar system as they feared a global collapse. Therefore when the price of oil increased in 1973 the dollar surprisingly continued to gain despite countries like Japan, Germany and the rest of the world suffering from severe economic destruction (Engdahl, 2003:1). Nonetheless, these measures did not help to restore or even quicken the economic growth rates of US or even correct the surplus reserves of dollars in Japan and Germany. From there henceforth, all the currencies of the Western nations began to ‘float’. There were no longer set exchange rates in the international market since the common link that was there before i. e. the Bretton Woods System, no longer existed. Ultimately, by the end of 1974, the price of gold had risen to $195 from $35 per troy ounce. As a result, due to unrestrained inflation there was a155% increase in the price of gold in a period of three years (James, 2010:1). Yom Kippur War The Yom Kippur War named after the Jewish holiest holiday, Yom Kippur began on October 1973 when Syrian and Egyptian forces backed by Soviet Forces launched attacks on Israel forces in the Golan Heights and Sinai in an attempt to recapture the land occupied by Israelites. However, despite the surprise attack on Israel, they emerged victorious due to the immense backing from US who provided them with weapons and intelligence. Therefore in a bid to punish the Western world for their aid to Israel, the Arab nations placed the oil embargo. This was initially political tactic meant to pressure the US into requesting Israel to withdraw from the Arab territories. However, with time the Arabs used it as an economic tactic when they realized the amount of power they had over the world through oil. The prices of oil thereafter quadrupled and continued to be a threat not only to America’s economy but also to the whole world. After the Yom Kippur war the OPEC member states struck back against the West for their support of Israel by imposing an oil embargo which increased oil prices by 70%. Lending by Private Banks to Developing Nations The origin of the debt crisis in the Third World countries has been attributed to the expansion of banking society in the US at an international level together with the rapid economic growth in the world. Before the oil price crisis of 1973-74 began, the real domestic product growth rate of developing countries averaged 6% annually. However, though the rate of growth had slowed down for the reminder of the 1970s it averaged 4-5%. This growth nonetheless generated new interests by the US corporate investment and similarly by other international banks. This multinationalism in providing financial services contributed to the emergence of the Eurodollar market which gave the US banks access to funds that they could undertake Third World Loans on a large scale. Additionally, the sharp rise in crude oil accelerated the expansion in lending (LCD debt crisis, 2010:192). The oil-exporting countries in the Arab world deposited their profits made during the oil crisis in banks in the European and US banks. This further fueled the lending boom. Since the banks had now been provided with more funds they became eager to make profits and hence invested it in developing nations by financing new development projects. The abrupt increase in oil prices brought about instant inflation into the prices of all other commodities. Moreover, the developing countries which had been crippled by these high oil prices saw this as an opportunity to borrow cheap money from the international banks so that they could offset the huge deficits ((LCD debt crisis, 2010:192; Schmulker, 2004:2). These funds that were known as petrodollars and had been recycled back to developing nations therefore generated inflationary pressures around the industrial world and created the debt crisis in developing nations (Cypher and Dietz, 2008:204). US High Interest Rates The developing nations during the 1970s were given loans at very low interest rates. However, this situation changed when the US in the early 1980s pushed up the interest rates of loans in an endeavor to stop inflation. This meant that the loans that had been lent out to Third World nations by US or other lending banks in Europe had to paid back with huge interests rates. Hence, by the 1980s the economy of Third World nations had began to stagnate and many nations were on the verge of bankruptcy due to the combination of mounting debts and low economic growth rates. The total debt had amounted to $567 billion and the high interest rates forced them to take out new loans which increased the burden (Jauch, 2009:1). This dismal situation was further compounded by the oil shock of 1973 and 1979. This decision by OPEC crippled the economies of many Third World nations with the cost of imported energy rising. Therefore, the culminative result of this crisis saw many developing nations especially those in Latin America unable to pay their debts during this period. IMF Structural Adjustment Programmes When it became evident that these nations would be unable to service their loans, the IMF came up with conditions which were dubbed Structural Adjustment Programmes (SAP) to solve the debt crisis among developing countries (Shimko, 2009:168). The SAP was proposed by the World Bank and the International Monetary Fund which were formed during the Bretton Woods period. These programmes imposed various conditions for countries especially developing ones that intended to borrow more loans (Jauch, 2009:1). IMF claimed that these reforms were necessary for promoting the economic growth needed to pay back the loans. The IMF required reforms to be carried out in the respective countries before aid could be provided. For example, Mexico whose debt burden grew faster than its own economy was loaned money by IMF to prevent a default. However, Mexico had to certain economic reforms before the loan could be dispatched. Although the conditions imposed on the developing nations differed, the same basic conditions were expected of all the nations (Shimko, 2009:168). The various key reforms according to Shimko 2009:169 included: †¢ Balancing of government budgets: this entailed either increasing the revenue for the government (providing new fees for government services) or drastically reducing the government spending. †¢ Reducing quotas, tariffs and other import barriers: this was aimed at subjecting the domestic industries to international competition. †¢ Liberalization of the capital market: this basically meant reducing the restrictions on foreign investment. †¢ Reducing government subsidies to domestic industries: these subsidies are those that had been part of import substitution strategies. †¢ Privatizing or selling the government-owned industries to the private sector. Nonetheless, these conditions did not alleviate the dire economic nor bring any economic development but rather the conditions intensified the existing situation. Although IMF studies claimed that the growth rates in countries under this programme increased from -15% in the 1980s to only 0. 3% in the early 1990s and 1% by mid-1990s, the World bank declared that there was no evidence whatsoever to account for any economic growth (Shimko, 2009:178). Additionally, lack of government subsidies or protection from foreign competition forced domestic industries to reduce their costs by lowering wages or by laying off workers. Therefore the liberalization of trade and the opening up of economies to unrestricted foreign investment had a deleterious impact on the poor nations and people (Shimko, 2009:177). Effects of the High Oil Prices in the 1970s As a result of the Bretton Woods system and the oil shock, a new wave of globalization began. Recession was prevalent with unemployment peaking at 9. 1% industrial production went down by 15% and high inflation in all areas. Additionally, when the Bretton Woods system of fixed exchange rates collapsed, countries were now opened up to greater capital mobility and they also retained the autonomy of their monetary policies. The Brandy Bonds came into existence when Mexico’s Minister of Finance announced that the country would be forced to default on its debt. The default on loans worsened as more banks in developing nations informed the IMF and Chairman of the Federal Reserve of their inability to service their debts in time (LDC debt crisis, 2010:191). The Brandy Bonds in a bid to resolve the debt crisis of the 1980 not only led to the subsequent development of the bonds market but also brought about a new phenomenon especially for emerging economies. Moreover, technological advancement, privatization and deregulation (which resulted in the corporate culture with national interests of decreasing consideration in business decisions) made foreign direct investment and equity investment in the emerging markets even more attractive for households and firms in the developed nations (Schmulker, 2004:2). Overall, there was a severe recession which hit the hardest the Western world. In Wall Street, oil stocks performed well due to the price increase as the profits soared as the rest of the market buckled under the low prices. Before the oil embargo was imposed by OPEC members, the price of crude oil was mainly determined by major oil companies in the West which retained 65% of the revenue of the oil. This type of arrangement was referred to as oligopolistic market arrangement. This meant that oil prices that had been posted in the market were established with the taxes and royalties paid to the exporting governments on the basis of this price. However following the embargo, property rights were transferred to the host countries from the major companies that had operated the industry and hence the cartel was able to take over the functions of the companies and retain more of the revenue generated Thereafter, the determination of crude oil price was passed into the hands of OPEC which set an official selling price for the best known among its crude. At the same time individual members were given the opportunity to adjust their selling prices in relation to this market according to the quality of the oil being produced (Trumbore, 2010:1). The continued high oil prices encouraged the exploration and subsequently the production of oil in high-cost oil regions such as Canada, Mexico, and North Sea. During the 1970, the increased demand of fossil fuels and increased prices for the product greatly reduced globalization. As the nations became more advanced, the rate of globalization declined. Although globalization grew for a while after the embargo, the rate of growth began to decline as the oil prices decreased (Okogu, 2003:1). The oil embargo impacted severely on the economy of Japan resulting in energy price inflation since by this time it was the only developed nation that relied heavily on oil with very few hydrocarbon reserves or any other alternatives. Japan was therefore forced to reconsider its industrial model. The oil shocks catalyzed the rapid turnaround which enabled Japan to become the leading energy efficiency country. The petroleum Supply and Demand Optimization Law was aimed at setting oil targets and restricting oil use. Japan’s vision after the oil embargo was to reduce its dependence of oil from the Middle East, therefore it started to charge import taxes on all petroleum products especially those that were used to generate power. Japan therefore became a pioneer in liquefied natural gas which today accounts for half of the worlds market. During this period, Japanese car brands like Toyota and Honda which had previously sold poorly enjoyed enormous success in the US market. Americans who had traditionally been fond of big cars were now confronted with a new challenge that included higher oil prices accompanied by long queues at the gas stations and rationing of gasoline. They therefore began to demand more of the Japanese brands for their small size and fuel-efficiency (Stewart and Wilczewski, 2009:1). Conclusion Even today, the Dollar System is still the real source of global inflation since t is the only global reserve currency as it has been witnessed worldwide since the 1971. Other countries in the world have to ensure that the reserves of their central banks are in dollars if they are to trade in the international market. This helps to guarantee against currency crisis, to back their export trade and to finance the importation of oil. Today, 67% of all central bank reserves are dollars (Engdahl, 2003:1). The debt crisis in the 1970s created by various variables including the oil embargo, the unprecedented borrowing and poor economic planning crippled the economy of many developing nations in Africa and Latin America. Despite efforts by the World Bank and IMF to offset these payment balances, the situation remained virtually unchanged. Ironically, other countries like Japan and US though they were affected by the rise in oil prices, were able to rise above the situation through oil exploration in their own countries which reduced their reliance on the imported oil from Middle East. Therefore, though the oil embargo did touch the economies of all the different nations, the degree and intensity was not the same. While other countries were completely devastated e. g. Third World nations others in the West found ways of reviving and even propelling their economies to greater heights. References Bordo, M, Eichengreen, B and National Bureau of Economic Research (1993). Bretton Woods System: A Retrospect. London. University of Chicago Press. Dammasch, S. (2010). The Bretton Woods System. [Online:] Available from http://www. ww. uni-magdeburg. de/fwwdeka/student/arbeiten/006. pdf Dietz, J and Cypher, J. (2008). Economic Development Process. New York. Taylor Francis. Eicher, T, Mutti, J and Turnovsky, M. (2009). International Economics. Taylor Francis. Engdahl, W. (2003). The Dollar System US Economic Reality. [Online:] Available from http://www. engdahl. oilgeopolitics. net/1973_Oil_Shock/Dollar_System/dollar_system. html Garber, P, Dooley, M and Folkerts-Landau, D. (2005). International Financial Stability. [Online:] Available from http://people. ucsc. edu/~mpd/InternationalFinancialStability_update. pdf Gavin, F. The Cold War Gold Battles. American Monetary Policy the Defense of Europe, 1960-1963. [Online:] Available from http://www. utexas. edu/lbj/faculty/gavin/articles/gold_battles. pdf Jauch, H. (2009). How Africa was destroyed by the World Bank, IMF- Structural Adjustment Programmes (SAP). [Online]: Available from http://www. newsrescue. com/2009/05/how-the-imf-world-bank-and-structural-adjustment-programsap-destroyed-africa/ Kenen, P. (1994). Managing World Economy. Washington. Institute for international Economics. King, E, J. (2003). The Elgar Companion Economics. Cheltenham. Edward Elgar Publishing Limited. Kitschelt, H. (1999). Continuing Change in Contemporary Capitalism. Cambridge. Cambridge University. Okogu, B. (2003). Changing Oil Market in North Africa Middle East. [online:] Available from http://www. imf. org/external/pubs/ft/med/2003/eng/okogu/okogu. htm Patel, H. (2007). The Eurodollar Market Contribution to the Modern Financial World. Online: Available from. http://www. pharmasuppliers. com/index. php? option=com_contentview=articleid=14catid=13Itemid=20

Play and Learning in the Early Years

Play and Learning in the Early Years In English preschools, play is an integral part of the curriculum, founded on the belief that children learn through self-initiated free play in an exploratory environment (Hurst, 1997; cited in Curtis, 1998). It was only in the early 1920s that play was linked directly to childrens development. The writings of such early educationists, as Froebel, the Macmillan sisters, Montessori, Steiner, and Susan and Nathan Isaacs, sowed the seeds for play being the basis for early childhood curricula. According to Froebel, play is the work of the child and a part of the educational process (ref). The Plowden Report (CACE, 1967) suggests that play is the principal means of learning in early childhood. In play, children gradually develop concepts of causal relationships, the power to discriminate, to make judgements, to analyze and synthesize, to imagine and formulate (The Plowden Report (CACE, 1967 (p.193). In our society, play serves countless important purposes. It is a means by which children develop their physical, intellectual, emotional and social skills. Much has been written about the definitions, functions and characteristics of play, for example Janet Moyles (1989) writes that Play is undoubtedly a means by which humans and animals explore a variety of experiences in different situations for diverse purposes. (Moyles 1989, p i). There are two conflicting opinions on the value of play, Early Years practitioners and some parents consider that play is the best way for young children to get a concrete basis for later school and life success. While other parents, practitioners and politicians believe that play is a waste of time. (quote). As a practitioner it is important to understand the true value of play and to advocate childrens right to play. This essay analyses the elements of an early years setting that support and encourage learning, comparing it with an alternative early years settings, while evaluating the importance of effective communication with babies and young children. It will also debate the importance of differentiation and inclusion in planning the early years curriculum. In addition the essay will include compare and contrast different settings to see how they relate to known theories of child development. Furthermore plans of play-based activities will be included to show support of the curriculum in the setting. Profile of setting. The school where I am currently in placement is situated within a woodland area surrounded by houses in Colchester, Essex. The school is currently providing education for 4-11 year olds and has approximately one hundred and sixty children on role. The school was originally formed in 1890, but was moved to its current site in the 1970s after a fire broke out. The school is a Church of England school and encourages the children to have a Christian view, with assembles and signs around the school. The feel of the school is a friendly, supportive, family originated environment, which is child focused. The type of child who attends the school is on average a child who will always do their best no matter what their background. The schools community is mixed race but has a high percentage of mainly white British families, the school has 38% free school meals, in August 09 had the highest jobseeker allowance attendance and has a high percentage of families on housing and benefits. The area t hat the school is situated is a renovation area that the Local Council are trying to regenerate. Within the two wards Essex County council and Colchester Borough Council the community have 2.3% rented housing and 10.5% housing. The Local Authority average is 11.85% which has almost double over the years. The school is above Local authority avenge and above national avenge which explains the percentage of free school meals. Lots of the house holds in the community have no formal education and there is a high percentage of children that are involved in social care. There are 4 children on the child protection register, 3 children which are looked after and 1 child on the child in need plan. The school has an equal amount of boys and girls in each class but there are one or two classes that have slightly more boys than girls which can inflict on learning styles and standards. The vision of the school is: We are a welcoming, happy and caring church school, where creativity is encouraged and everyone has confidence in their own abilities. We promote good social skills and participation in the Christian ethos of our school. We value others whatever their background or beliefs and respect our environment. We always aim high and do our best, cherish our friendships and respect everyones right to learn. We ensure that the key skills, vital for a successful future are taught to all of our children. We strive for a bright and wonderful future! (Ref) The school works with a number of organisations in the community. One is Child First, which is the collaborative name for the three Local Delivery Groups (LDG) of the schools in Colchester. The group first emerged out of the desire of Head Teachers in East Colchester, who wanted to improve the life chances for the children in their schools. With the arrival of the Extended Schools Agenda, it was a natural progression to extend the group to include all schools in Colchester. Also lying at the heart of the community is the church, which has a congregation of around 100 people. With differing ages, a variety of backgrounds and Christian experiences, the school finds itself strongly united to the church as a reverend from the parish visits the school regularly. Also the Ormiston Children and Families Trust works with the school to promote the wellbeing of children and young people through projects based around the Eastern Region. The Ormiston Centres work in partnership with Essex County Council, voluntary and statutory organisations, families and communities they are managing the seven Childrens Centres in Colchester. LO1 Compare setting with an alternative analyse the elements of a chosen early years setting that support and encourage learning, comparing it with alternative early year settings. What does the setting do to support and encourage learning? Current setting: The Early Years Foundation Stage (EYFS) applies to children from birth to the end of the reception year. In our school all children join us at the beginning of the school year in which they are five. At present we have an intake of 28 children. Most have been to settings that exist in our community and many have attended the pre-school located on the school campus. At the school we recognise that every child is a competent learner who can be resilient, capable, confident and self assured. We recognise that children develop in individual ways, at varying rates. Childrens attitudes and dispositions to learning are influenced by feedback from others; we use praise and encouragement, as well as celebration/ sharing assemblies and rewards, to encourage children to develop a positive attitude to learning. In the Foundation Stage we set realistic and challenging expectations that meet the needs of our children. We achieve this by planning to meet the needs of boys and girls, children with special educational needs, children who are more able, children with disabilities, children from all social and cultural backgrounds, children of different ethnic groups and those from diverse linguistic backgrounds. We meet the needs of all our children through: Planning opportunities that build upon and extend childrens knowledge, experience and interests, and develop their self-esteem and confidence; Using a wide range of teaching strategies based on childrens learning needs; Providing a wide range of opportunities to motivate and support children and to help them to learn effectively; Providing a safe and supportive learning environment in which the contribution of all children is valued; Using resources which reflect diversity and are free from discrimination and stereotyping; Planning challenging activities for children whose ability and understanding are in advance of their language and communication skills; Monitoring childrens progress and taking action to provide support as necessary. At the school we recognize that the environment plays a key role in supporting and extending the childrens development. This begins by observing the children and assessing their interests, development and learning, before planning challenging but achievable activities and experiences to extend the childrens learning. We make regular assessments of childrens learning and we use this information to ensure that future planning reflects identified needs. Assessment in the EYFS takes several different forms. These provide information which is then combined to inform detailed pictures of whole individuals. The classrooms are organized to allow children to explore and learn securely and safely. There are areas where the children can be active, be quiet and rest. The school has excellent outdoor area provision. This has a positive effect on the childrens development. Being outdoors offers opportunities for doing things in different ways and on different scales than when indoors. It offers the children to explore use their senses and be physically active and exuberant. We plan activities and resources for the children to access outdoors that help the children to develop in all 6 areas of learning. At the school we recognize that children learn and develop in different ways and at different rates. We believe that all our children matter and we give them every opportunity to achieve their best. We do this by taking account of our childrens range of life experiences when planning for their learning. Active learning occurs when children are motivated and interested. Children need to have some independence and control over their learning. As children develop their confidence they learn to make decisions. It provides children with a sense of satisfactions as they take ownership of their learning. Children should be given opportunity to be creative through all areas of learning, not just through the arts. Adults can support childrens thinking and help them to make connections by showing genuine interest, offering encouragement, clarifying ideas and asking open questions. Children can access resources freely and are allowed to move them around the classroom to extend their learning. Different setting: The Montessoris principle insight was that children are not merely small adults they have distinct and different thought processes and desires. What we may call play is a young childs work. The role of the educator is to provide the child with the opportunity to fulfil their desire to learn, both academically and socially. To use the latest educational catch phrases, Montessori education is multi-modality, differentiated instruction. (Ref). The Montessori method is split into five areas. Practical Life, Sensorial, Mathematics, Language, and Cultural. The Practical Life area improves the childs coordination and motor control, developing the pincer grip which is a requirement of writing. The Sensorial area refines the childs senses of the world around them, again preparing for language, and also for maths, serializing length and other physical characteristics. The Mathematics area provides numerical concepts in concrete form, using beads, cards, and spindles. The Language area teaches letters, then their phonetic sounds, and then builds words. The Cultural area extends the childs understanding beyond the classroom, teaching science, geography, botany, zoology and history. The teachers at a Montessori school observe their children in great detail asking the questions, what does this child understand? What is the next concept this child needs to learn? Obviously, a Montessori classroom will not look like a normal classroom. Rarely, if ever, will you find the whole class sitting with their books out looking at the teacher show them how to fill in a worksheet. Instead you will see children, some in groups, some by themselves, working on different concepts, and the teacher sitting with a small group of children, usually on the floor around a mat. Some people talk about the lack of structure in a Montessori Classroom. They hear the word freedom and think chaos or free for all. They seem to think that if all children are not doing the exact same thing at the exact same time that they cant possibly be working or that they will be working only on the things that they want and their education will be lopsided. Children will be given a work plan or a contract and will need to complete an array of educational activities just like in a more traditional classroom. The main difference being that the activities will be at each childs maximum plane of development, will be presented and practiced in a way that the child understands, and the child will have the freedom to choose which he/she does first. LO2 Communication Evaluate the importance of effective communication with babies and young children. Communication is a complex and important skill that is fundamental to human relationships, because humans appear primed to communicate from birth and we often underestimate the skills that must be developed if babies and children are to become sociable and effective communicators. The play experiences children need in order to become skilful communicators are those that encourage them to want to communicate with others and include not only verbal but also non-verbal responses such as movement of their whole body. LO3 Differentiation Differentiation is the recognition of and commitment to plan for student differences. A differentiated classroom provides different avenues to acquire content, to process or make sense of information and ideas, and to develop products. Differentiation can be referred to as an educational philosophy that requires teachers to modify their learning, teaching and assessment whilst adjusting the curriculum to the needs of children with SEN rather than expecting pupils to fit the existing curriculum (Cole 2008 cited in Rogers, 2007). The history of differentiation in education can be linked to two influential psychologists. Vygotsky proposed that learning can be mediated through the intervention of others. This recognises that by having knowledge of what a child already knows should inform the next stage of learning and what interventions are necessary to enable successful learning. Gardner (1993) proposed a theory of multiple intelligences in which people have different intelligences and learn in many different ways. Gardner conceived that schools should therefore offer individual-centred education (Florian et al, 2006 cited in Humphreys and Lewis 2008b) in which learning is tailored to the childs individual needs. Lo4 2 different early year curricula. The idea behind Forest Schools is that it is a long term sustainable approach to outdoor play and learning. Its about providing children with holistic development; it looks at every area in terms of their physical development, intellectual development and cognitive skills, also looking at their linguistic and language, both verbal and non-verbal. Forest Schools also looks at their emotional, social development and spiritual development. Whats interesting about the culture in some Scandinavian countries is being in and out doors are a part of how the family and culture works. But in Britain children are getting more and more isolated from the natural world. Forest Schools is very much about giving children the opportunity to learn in and from nature. Forest Schools is also about free play, its about self directed learning but its also about allowing the children to develop freedom and choice in order to be able to become competent and effective adults. In Every Chid Matters it states that every child should make an equal contribution. (Ref). The only way that children can do this is if they have sound self-esteem and sound emotional well-being and sound social skills and function in as many social situations as they choose. Forest Schools is about allowing children given their developmental dependant age the ability to be able to achieve social comfort. Forest Schools is an inspirational process that allows children to access the outdoor space in order to grow and develop into successful, happy rounded individuals. There is a misconception that Forest Schools is for Early Years; some of the most successful projects have been with older young people, adults with mental health problems and children in secondary education. (Ref). The .about allowing children and young people to grow with a sense of value of who they are and giving a positive contribution. Its all about using nature as the teacher as opposed to being adult lead. LO5 Activity Plans and Evaluation. Plan (see appendix .), Rationale behind choice of activity and Learning Objective. This activity was chosen as the reception class were looking at the Handa Surprise book and focusing on healthy foods. The day the activity was carried out a new student was present with his mother which added extra pressure for all the professionals. The learning environment offered opportunities for the children to experience tasting different fruits as the kitchen area was adjacent to the table in which the activity was carried out. It setting also had a large copy of the story so all the children were able to see the story (for Communication, Language and Literacy) and had the provisions to create the masks (Creative Development). I thought the topic would lend itself to the next days topic of healthy lunchboxes, which the whole school were focusing on. I chose to focus on any existing knowledge the children may have of different fruits and try and extend their understanding of way fruits are good for us. This leads into Early Learning Goal () of ..'(QCA, 2000). My main learning objective, therefore, was to introduce the children to new fruits and tastes, using language and listening to each other to find out what each child thought, in an accessible and enjoyable environment, so to encourage respect for each others views and turn taking. What happened? The week before carrying out the activity, i prepared the resources needed in school and discussed the other activities that my fellow practitioners would carry out. This involved printing, cutting and laminating the necessary pictures and masks. Also finding all the different fruits that were in the story. One fruit in particular i was unable to find but i improvised with a fruit drink that was made from the fruit so at least the children were able to taste the favour. I carried out this activity with a mixed ability group of 9 children. I began by asking the children to wash their hands as they were going to be eating fruit. When all the children were back in their seats, i gave each of them a bowl and a cup. I asked the children if they could remember the fruits in the story of Hands Surprise which was read earlier. The children seemed to have a positive attitude about being able to remember. With a small copy of the book i asked the children which was the first fruit that the monkey took out of Handas basket. When answered in cut the banana in pieces and gave each child a piece and asked questions such as what does the banana taste like? How does it feel? Do you like the banana? The children gave mostly good descriptions of the fruit and used appropriate vocabulary such as creamy, slippery and lovely. I carried out the same routine of cutting the fruit into sections and passing a section to each child and asking them to describe what it tasted l ike and how it felt and whether they enjoyed it. With the Guava fruit which was the fruit i could not purchase i informed the children of the situation and showed them the picture of the fruit on the carton of juice. I gave each child a taste and asked their option, the overall option was that the fruit tasted delicious but one child said that they didnt like it. The most interesting discussion came when i asked the children what they thought the passion fruit would look like inside, one child said that it might look like an orange, the same child that said the banana was creamy (extension). Overall most of the children enjoyed the fruit tasting apart from one (standard) child who kept giving negative reactions to the fruit saying that he doesnt eat fruit at home. I was happy that a least he tried some which i gave great encouragement to. While the fruit was being eaten i passed around picture cards of the fruit and asked each child in turn to pronounce the name of the fruit after me, most children had no problems with the pronunciations but one child struggled with avocado. I encouraged each child to have a little taste of each fruit and if they didnt like it then they didnt have to eat it and well done for trying was always encouraged. The extension child suggested that trying different fruits was good for us, as fruit was good for us. Which then lead a child that was refusing to try a certain fruit, tried it? At one point the dismissive child asked if we were finished and could go and play. Once all the children had tried all the fruit and we had discussed them and i asked the final question which was everyone favourite and their least favourite, the overall result being orange best, avocado worst. I explained that the children could go put their bowls in the sinks and wash their hands and then go and play. Evaluation. I believe this activity resulted in all the children achieving the main learning objective of introducing the children to new fruits and tastes, using language and listening to each other to find out what each child thought and to encourage respect for each others views and turn taking. The idea that the childrens peer could influence the decision of another child .. An effective learning environment does not leave children entirely to their own devices, but builds on what they can already do and challenges them to try new things. The role of the practitioner is vital in this process and sits within the social constructivist approach to learning. This theory was popularised by Vygotsky (1978, in Smith, 1999), who identified the zone of proximal development, (ZPD) as being a reason why childrens learning can be helped by others. Smith (1999) explained: The ZPD is the distance between the childs developmental level and his or her potential level of development under the guidance of adults or more competent peers (Smith, 1999: 429). As this was a hands on activity, the children were taking an active part in their own learning progress. It was Piaget (1966, in Smith, 1999) who first postulated that the child is a lone scientist, processing information and constructing meaning through encounters with their world. Most of the children focused their attention to the fruits they enjoyed using positive language and engaging in the ability to use words to describe what something tasted like or felt. One child tried to extend the activity to see who the fruit sounded when bounced on the table saying the orange sounded like a ball, this then encouraged the children to continue testing the sounds of fruit by knocking on them. The (extension) child asked if there was nothing in the fruit would it sound the same? The relative success of this activity highlighted that children of this age learn best through concrete experiences. When working with children of this age group it is preferable to adopt teaching strategies which allow for plenty of practical activities and exploration. The fact that one child lost interest in the activity, implies that I might need to develop this activity in some way to keep the attention of the less able or enthusiastic children. This was particularly notice when asking some children to use descriptive words to describe the fruit, as some children just repeated the word that their peer before them used. The language of one child was not as developed as the other children in the group, and this excluded them from full participation. On reflection, a different teaching strategy could have been employed to involve them more fully into the activity. It could be that they were more of a kinaesthetic learner than the others, as he keep looking at the children playing, so maybe using an activity that involved movement may have kept his attention. Also the activity was extended longer than anticipated as i had the cut each individual fruit into segments. If this activity was done again in the future maybe cutting the fruit into segments before the activity took place would be a more successful approach. As a result of this evaluation, i would have changed my plan to include more opportunities for the children to be involved in the activity in a more physical way, perhaps by using safety acceptable knives the children could help me cut the fruit. This may help some of the children with their fine motor skills as well. Also another way of engaging less able children might include asking them to participate in the preparation of the resources, maybe by asking them to bring their favourite fruit from the story in so they feel they have a more personal involvement. Finally, the only thing I would change would be to ask the children to put on aprons, as it got very messy, including me, as i too got very messy. Conclusion In conclusion recently there has begun to be a realization in the UK that play is important. There has been a surge of initiatives funded by government , such as Arts Council projects on creativity in schools and communities, the publication of Excellence and Enjoyment by the National Primary Strategy (DfES, 2003). This is putting a major emphasis on the importance of embedding the Foundation Stage and the Birth to Three Matters Framework in the work of local authorities across the maintained, voluntary and private sectors. Increasingly, research findings indicate the importance of the first years of education. Childrens ability to use spoken and written language fluently and with confidence and for a range of purposes enables them to access at an early age what education has to offer. The adults working in early years settings and classrooms have both the opportunity and responsibility to affect the future learning of their pupils in a far reaching and powerful way. Play is, it seems, about the universe and everything. It often has to function in a hostile environment, but when it is encouraged, supported and extended, it makes a major contribution to, and sophisticated impact on the development of individuals and humanity as a whole.

Euclid :: essays research papers

Little is know about Euclid, the father of geometry. Records show that he lived somewhere around 300 B.C. He was a Greek mathematician and is probably best known for his work Elements. Since little is known about the personal life of Euclid, it is difficult to do a biography on him.   Ã‚  Ã‚  Ã‚  Ã‚  His chief work, entitled Elements, is a comprehensive essay on mathematics. It includes 13 volumes that entail such subjects as plane geometry, dealing with the properties of flat surfaces and of planar figures, such as the triangle; proportion in general, a particular kind of relation between groups of numbers or quantities; the properties of numbers; incommensurable magnitudes; and solid geometry, branch of geometry that deals with the properties and measurement of geometric figures in three-dimensional space. Some people say that the geometrical sections of Elements were actually rearrangements of Exodus previous work. However Euclid himself is said to have made several discoveries in his Number Theory, which is a branch of mathematics that deals with the properties and relationships of numbers.   Ã‚  Ã‚  Ã‚  Ã‚  Most historians believe Euclid was educated at Athens. His teachers may have included pupils of Plato, who was a philosopher and one of the most influential thinkers in Western philosophy. Euclid thought geometry in Alexandria and opened a school of mathematics there. He also wrote Data, which was a collection of geometrical theorems; Phenomena, a description of the heavens; and The Division of the Scale, which is a mathematical discussion of music. But yet again many historians believe many of these works (other than the Elements) were spuriously credited to him, others disagree and say that indeed his works are that of his own. Euclid's Elements was used as a text for 2000 years, and even today a modified version of its first few books forms the basis of high school instruction in plane geometry.

Stragegic Plan

A Strategic Plan And It’s Impact on the Rise and Downfall Of Netflix, Inc. [pic] MBA 517 Fall 2012 (Strategic Planning and Policy Analysis) 14th Dec, 2012 TABLE OF CONTENTS †¢ Executive Summary †¢ Strategic Vision †¢ Business Objectives †¢ Environmental Analysis †¢ Industry & Competitive Analysis †¢ SWOT Analysis †¢ Business Strategy †¢ Implementation Plan †¢ Monitoring Adjustment- A Dynamic Process Executive Summary Netflix, Inc. , the world’s largest and leading online DVD rental company; was founded by Reed Hastings and Marc Randolph in the year 1999 and operated from Los Gatos, California.In the very initial days Netflix started its business through online DVD rental using web media which is called as www. netflix. com through internet. The business was operated by delivering DVDs through postal mail and then charged the customers and this was called as Pay per DVD rental services. Gradually with this the company revenues increased and in a span of two years Netflix gone for an expansion and the Pay per DVD revenue model was replaced with a â€Å"fixed  monthly fee system†, the monthly fee was about $ 15. 95 per month.This was a major breakthrough for Netflix which has allowed all its customers wherein they can rent up to 4  DVDs per month without any due dates or late fees. After initializing the fixed monthly fee system, later in the year 2000, Netflix has launched one more strategy which was like customers can have up to four DVDs with in their possession one time for a fee of $19. 95 per month. Netflix's decided to split the business into two separate companies, one for the streaming and one for the â€Å"legacy† DVD business which is called as Qwikster.And then Netflix started charging the subscribers two separate bills every month which made Netflix to face the unexpected downfall. Netflix’s website for the subscribers www. netflix. com , which helped in prioritizing t he category and the choice of movies based on the customer’s preferences. By doing so, Netflix tracks the wish lists or queues of movies listed so that subscribers can browse movies of similar category and choose to watch. Then Netflix used to ship movies which are on the top of the wish list or queues of  subscribers through mail.Netflix has designed their website as per the requirements in which way it has all the ability and the facility of tracking the subscribers with individualized ratings based on all movies that customers had previously rated after viewing them. Netflix as a company enjoyed  tremendous success with all these success formulae, so it has decided to submit for an initial public offering. And later there was a huge drop in the stock market prices which dropped and due o the downfall in the stock the company position became little difficult for a company’s IPO to succeed with  uncertainty in the financial markets. In July 2000, Reed Hastings, CEO of Netflix, needed to decide whether the company should proceed with  the IPO or withdraw. During the current scenarios, Investment banks predicted that the IPO  of  Netflix would succeed only if it’s  showing positive cash flows within a twelve-month horizon. In 2005, Netflix has grown to a position where the company has 35,000 different film titles available and also shipped one million DVDs out on daily basis.Netflix developed and maintained an extensive personalized video-recommendation system based on ratings and reviews by its customers. In 2006, Netflix offered a  $ 100,000  to the first developer of a video-recommendation program that could beat its existing algorithm. And later in the year  2007, the company delivered its billionth DVD. In 2007, the company began to move away from its original core business model of mailing DVDs and introduced video-on-demand via the Internet. Netflix business has grown but while DVD sales fell from 2006 to 2011.Sep tember 18, 2011, Netflix announced its intentions to rebrand and structure its DVD home media rental service as an independent subsidiary company called  Qwikster, totally separating DVD rentals and streaming. Netflix's decided to split the business into two separate companies, one for the streaming and one for the â€Å"legacy† DVD business which is called as Qwikster. While splitting the business into two, however the businesses are going to run separately and they are going to operate on different websites. Subscribers of both the businesses got two separate billing statements (Probably it might have made sense in the long-term).It poses serious and immediate risks to Netflix's streaming business as the strategy to split the business into two did not took the turn as it was expected, and as the subscribers are the people who are all sitting at home and trying to rent DVDs, watch videos probably aren't thinking much about disruptive technologies and innovators' dilemmas. Subscribers just want to watch a movie as cheaply and as conveniently as possible. There was a loud backslash  that ensued after Netflix split its pricing plan in two is being turned several notches and as subscribers wondered how this latest business plit will affect them. The reason for the CEO to make this strategy is for the long-term betterment and also will be more profitable to have fewer subscribers paying more for month than continuously adding customers that only sign up for the cheapest plans and then withdraw soon. But the decision to raise prices so drastically $15. 98 a month to rent DVDs and for streaming is a 60% jump which caused customers rage and due to this Netflix has lost about 8,000,000 subscribers in one quarter of a year and investors had been buying on the hope that subscriber growth would continue for a long time.When Netflix gone ahead and planned to separate the organization into two as the strategy, the reaction of the subscribers is unpredictable and there was a huge reaction from the subscribers and within a span of six months the company lost most of the customers and the organization has incurred huge loss which made the company cancel the separation plan. To implement the above strategy, the management instead of bouncing back, I would suggest having a backup strategy which will be handling the management and opting for the alternative opportunities.If once we understand that the strategy of separating the business is failed then first thing is we should identify the impact of the decision ,on all parameters like lost market share, customer base, on revenues and profit gained by the competitors etc. and estimate where the organization is positioning . Then I would be going ahead and performing a gap analysis and identifying the current position of the organization and the most possible alternative strategies so that the organization will come back to its previous market.Apparently SWOT analysis also helps in identifying the areas which we need to work up on the organizations strengths and opportunities and ways to overcome the weakness and Threats which can cause hindrances. Reevaluating the proposed strategy is also one of the ways of implementing an effective strategic plan and a quick feedback of the implemented strategy will give any organization to control the impact before everything goes uncontrollable.In this case, Instead of applying the new strategy right away on the existing customers, what I suggest describes strategy to rebrand Netflix by applying the separation plans to new customers and allowing the old customers to enjoy the previous benefits and slowly make them adapt to the new product through proper promotional benefits. If any organization decided to launch a new product the best strategy would be introduce with the existing product so that the customers will be adapted to the new product and the existing customers will adapt to the new product by promoting with existing market.Hen ce the following plan describes a strategy to rebrand Netflix and successfully separate its business into Netflix and Qwikster based on the surveys and feedback collected from both existing and new customers. In-order to achieve this by holding the existing customers and attracting new customers, Netflix has to market the new product (both streaming and DVDs rental) by providing the new customers a free month trial (30 days) and also by giving the new product for the existing customers without any change in the fee. This would actually hold the existing customers and attract the new customers.Based on the response from the feedback and surveys, CEO will decide whether to continue providing the new product or move back to the previous existing product (which was already proved as a successful product). After the free trial (30 days) completes the new customers have a choice to be with either the new product â€Å"Qwikster† or just stay with Netflix. Strategic Vision According to (CEO) Reed Hastings, â€Å"Our vision is to change the way people access and view the movies they love†. Reed Hastings (CEO) strongly believed in delivering the product at an affordable price and conveniently .These are the success factors of Netflix. And also strongly believed that there are no replacements for the movies and the mission of Netflix can be considered as delivering the product in a desired way and make it attractive to the customers. Customer focus and understanding the preferences of the subscribers which helped in customer satisfaction . The goals of the Netflix also played a major role in achieving the desired revenues. Business Objectives Through these objectives Netflix will come out of the chaotic situation .These objectives can be measured through all the functions of the business mostly of financial and the objectives can be achieved and monitored at all the levels in the business. Financial objectives and Strategic objectives: The prime combined ob jective in this scenario would be to get back the lost customer base which was due to change in strategy and to gain them back is the prime objective. The second objective should be to expand the Qwikster business by launching the product and to attain a market share for them. The third objective should be increasing the new subscribers for the Netflix, Inc. o that the growth of the company would be prospering. The fourth objective should be to increase the revenues of the company by controlling the costs . The fifth objective should be to add value for business and pay the dividends to the shareholders. The above stated objectives are measured in monetary terms and other than the financial objectives Netflix should also focus on being a successful launcher for the new product Qwikster and also ensure that the quality is maintained without compromising and deliver the best customer service for its subscribers as it always did .These are the objectives which are more operational in n ature. To add on to the Operational objectives improvising on new technology, by improving the current process and optimum utilization of resources by maintaining employee relations and abiding with statutory rules and running the business on social and ethical behaviors are also considered as the operational objectives which can be key to the success for any organization. The time frame to achieve all the above listed objectives should be on quarterly basis.This could be achieved by doing a trend analysis on a monthly basis and reviewing how it can be achieved over a span of one year. Environmental Analysis The drastic growth of technology is one of the major successes for the Netflix and it is driven on technology based. Though it was started with delivering DVDs through postal services, gradually it started capturing the preferences of the customers by creating a wish list and based on their choices it has gained the customer satisfaction.Then on using the current technology Netf lix has developed streaming videos and later it was heading into developing the apps for usage on mobile devices also. When we discuss about the financial aspect due to the increase in prices there was a downfall in the shares of the company. Immediately after the decision was announced the share prices dropped drastically and there are many cancelations from the subscribers. Netflix faced a major downfall at the time of recession in 2000 and after the price hike strategy in 2011.These two years are the challenging years for the company however Netflix has overcome these with its current strategies. [pic] Industry & Competitive Analysis Netflix major competitors are Hulu and blockbuster and Netflix share is also disturbed other than the major players among you tube and also effected due to piracy. However Netflix success factor has created a brand image for streaming movies and DVD rentals. Netflix also faced competition from Redbox (movie rentals). SWOT Analysis Netflix’s st rengths: Netflix is strong in marketing their business. The main marketing strategy which attracts the customer is one month free trail and which helps the customers to get used to the product and continues with Netflix account. †¢ The other major strength for the Netflix is that they are flexible in delivering the DVDs to home every time subscribes are willing to watch a movie. The Netflix process that customers can create a recommendation based on their interest and those DVDs will be delivered very fast. Netflix is one of the pioneers in using the technology as Netflix streaming method helps the customers to watch instantly and they use the internet as the medium and Netflix is available on all electronic gadgets currently. †¢ Netflix strength is that they are patent protected recommendation service. †¢ Competitive prices are also which made the Netflix on of the niche in rental movie services. Netflix’s weakness: †¢ The fall in the Netflix demand is du e to the price strategy when the company decided to split the business which resulted in the downfall of Netflix. The other weakness is the dependency on the associates which has increased in the costs of Netflix. †¢ The disputes with major partners have resulted in limiting the streaming content. †¢ The rules of the movie content are also available with the competitors due to weak agreement. Netflix’s opportunities: †¢ Netflix is like a brand when it comes to watching movies it is the first to create. Though there are many competitors it was like a brand for watching movies online. †¢ One more opportunity is to focus on the international market as these are pioneers they can capture the world market spread. The other opportunity is as they are big players in this market segment they have the privilege of getting associated with big movie companies for a better price. †¢ Netflix can grab the opportunity using it on the mobile devices. †¢ Netflix can focus on streaming Games also. Netflix’s threats: †¢ The major threats for the Netflix are from the few competitors like hulu and blockbuster. †¢ The threat could be availability of pirated sites online and YouTube could also be a possible threat in near future as there are lots of channels spread throughout uploading movies. There is tremendous growth in technology and this company should be thinking on improving delivery methods. †¢ The threat is on increasing shipping costs which is giving an impact on the profits of the company. Conclusion: To summarize on the SWOT analysis is work on getting back the subscribers and find the ways on overcoming the weakness and threats and utilizing the opportunities and concentrate on building a strong market so that the company can run in a profit mode and can give a tough competition to the competitors. Business StrategyThe objective is achieved through the success of the company, while capturing the customer base by spreading the product with marketing their product at one month free trail offer. Due to this they have captured the new subscribers and also focused on the internet users who will be shopping DVDs or games online. The main objective for last year was to get back the customers and the CEO was successful by writing an apology mail to existing customers and apologizing over media about the decision he made about splitting the business.The CEO’s letter includes â€Å"I want to acknowledge and thank our many members that stuck with us, and to apologize again to those members, both current and former, who felt we treated them thoughtlessly. Both the Qwikster and Netflix teams will work hard to regain your trust. We know it will not be overnight. Actions speak louder than words. But words help people to understand actions†. The apology reached most of the customers and many are back to the Netflix as it is one of the most compatible sources we have today.Implementation Plan Implementation plan is the process where any organization should plan how they are going to achieve the suggested strategy. Netflix main focus should be on holding existing subscribers and also Netflix should attract new subscribers by marketing the new product appropriately. Marketing also plays a crucial role in implementing phase. Netflix should focus more on building a successful organization and the policies of the company should be formed in such a way that the strategies are supporting them.The company should also set best practices so that the various problems like customer complaints or technical issues can be addressed more effectively and immediately. Below is the Gantt chart view of the parameters and time frame. Also we can notice the time line displaying the tasks and the time frame. [pic] [pic] In my opinion if we follow these steps before implementing any product, it can yield best results. These are considered as the best practices for any implementation plan as im plementation is the key for success for any product before it’s launched. Monitoring Adjustment- A Dynamic ProcessThe monitoring plan would be to gain the control of the company so that the shareholders will invest in the company by winning the confidence of both subscribers and stakeholders where in the Netflix will not opt for any merger or opt for any business combination and the monitoring plan for the streaming company would be to target about 30 million customers across the world and be the world’s leading internet subscribing company where in providing movies for an affordable price and adapt to the technology where in the services can be streamed through various mediums like computers, televisions phones etc. Monitoring Elements | |Price Control | |Quality Assurance | |Customer Service and satisfaction | |Profitability | |Financial Elements | | |The monitoring plan for Netflix, according to my opinion should be that the company should concentrate more on main N etflix Company as it’s a parent company and then study the market trends for the streaming company by reaching the subscribers and getting them adapted to the new streaming company. However, for the second company to get adjusted with the market is a long term process. Netflix would have promoted the streaming DVDs with the original company over time and then it should have merged the process with renaming instead of doing it at the initial stage.Below attached is the survey and the result is that subscribers dilemma regarding the product itself and why Qwikster did not reach customers as they are unaware what it does really. [pic] It would have be great success if the name would have rhymed with Netflix so that the subscribers would have thought these two companies are related and as Netflix is most popular for movies and among customers.Here the monitoring of the entire implementation plan are done by taking surveys and one on one feedback from supervisors, managers and ver tical management heads and based on those reviews and suggestions change can be done and also time frame is limited or expanded. Overall with all these steps implemented and thereby Netflix when follows the suggested strategy then can overcome the current situation and also hold the existing customers while acquiring new customers. This will make Netflix, Inc. successfully launch its new product and remain world’s largest and leading online DVD rental company.References Websites: †¢ Netflix, Inc. www. netflix. com †¢ http://ir. netflix. com/downloads †¢ http://en. wikipedia. org/wiki/Netflix †¢ http://www. bizjournals. com/sanjose/news/2011/09/19/complete-text-of-netflix-ceos-apology. html? page=all †¢ www. google. com †¢ http://www. cbsnews. com/8301-505124_162-43452943/turns-out-netflix-blew-the-qwikster-name-pick—-out-of-fear/ †¢ www. yahoo. com Thompson, A. A. , Peteraf, M. A. , Gamble, J. E. & Strickland III, A. J. Crafting and E xecuting Strategy: Concepts and Readings (18th ed. ). New York: McGraw-Hill/Irwin.