Friday, November 15, 2019
Transportation And Logistic Chain Management Essay
Transportation And Logistic Chain Management Essay Abstract Purpose: to introduce the issue of the transportation and logistics chains. Finding: outlines how the individual papers affect debate on the nature and development of transportation in the supply chain. Originality: provides a summary of the perspectives studied within the transportation in the supply chain. Introduction My research is on the transportation and logistics chains. Products are transported between different places in different stages within a supply chain. The transportation has a large impact on both responsiveness and efficiency. Faster transportation allows a supply chain to be more responsive but reduces its efficiency within a supply chain (Chopra Meindle, 2007, p.53). Transportation has a significant impact, because it controls the speed of response and reply as stated in Newtons third law of every action there is always opposed an equal reaction. An example of Amazon is a company that sells products on the internet and uses UPS or FedEx, which is a transportation company that delivers products to customers. This is an example of transportation within a supply chain. In logistic today wrote article for Rosenau transportation gains real time visibility to customers. This article about Rosenau found solution to assistance improve dispatch, routing and customer service to provide re al time visibility to its customers, and reducing operating costs by making more stops in fewer miles. They also focused on improving the information it provides to its customers on delivery, pickup status, at same time correcting the efficiency and productivity of dispatchers and costumer service reps. Shortly it will be executing an advanced route optimization solution to reduce the miles driven, and fuel used and thus reduce the carriers environmental impact. (Rosenau Transport Gains Real-Time, 2009) According to, Sreenivas and Srinivas, due to the trend of nationalization and globalization in recent decades, logistics has advanced greatly since the 1950s and is still growing in various areas. Logistics has improved industries by optimizing production and distribution processes based on new management techniques that enhance efficiency and capacity competitiveness of enterprises (Sreenivas Srinivas). All companies seeking to expand their businesses to contribute in advancing the growth of sales as well as improve the methods to include all customers in various geographical regions, both by the high population growth or moderate. However, globalization has changed everything so that the companies paid to spend more money on transportation to reduce the time to ensure the delivery of products to the consumer of course, besides compliance with new government regulations. A factor that has made these companies to improve performance is the technology information, transportation, and logistics solutions. They have contributed to the mobilization of the stock of companies to enable them to obtain goods shortly as well as the right of access to customers; also, the right place at the right time along with it is likely that you will get a sale and delivery while reducing costs and enhance its services to avoid delays and fines. All companies operating in this area and for global programs with logistics, which includes transport and logistics functions only on the implementation of orders from inception to delivery of this position to gain visibility at home and abroad for the supply chain as well as lower costs and improve customer service. That all these components to ensure the quality of the application must examine the following possibilities: Transportation planning, transportation procurement, route planning, transportation management, small parcel shipping, and international trade logistics (infor). The important point in a logistic chain is the transportation that connects the separated activities. Transportation is jointing between stages in the supply chain. In other words, it is the way to move product from manufacturing to the final consumers and vice versa. This research focused on: Development of logistic The role of transportation in supply chain Modes of transportation Transportation infrastructure and policies Discussions and conclusions Development of logistic Definition Part of the supply chain process that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customers requirements. (Sreenivas Srinivas). In other words, the process connects all of the means of providing raw materials to, from the company, and to suppliers of transmission products. It depends more on the provision of logistics from raw materials to the network such as the transfer process, material handling from the beginning to the end of production and the sale, disposal of waste, and add customer to increase the competitiveness of the market. In general, the optimum utilization of investigative meet the demands of customers of any goods or services must provide the information to provide that service in addition to benefiting from the network to meet customer requirements in a timely manner. Either, Council of Logistics Management (1991) defined that logistics is part of the supply chain process that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customers requirements. Johnson and Wood is definition (cited in Tilanus, 1997) uses five important key terms, which are logistics, inbound logistics, materials management, physical distribution, and supply-chain management, to interpret. Logistics describes the entire process of materials and products moving into, through, and out of firm. Inbound logistics covers the movement of material received from suppliers. Materials management describes the movement of materials and components within a firm. Physical distribution refers to the movement of goods outward from the end of the assembly line to the customer. Finally, supply-chain management is somewhat larger than logistics, and it links logistics more directly with the users total communications network and with the firms engineering staff (YUE, TSENG, TAYLOR, 2005) The role of transportation in supply chain I mentioned in the beginning of my papers the transportation is referring to the movement of any product from one location to another. Transport refers to the movement of products from one place to another and that the beginning of the supply chain in dealing with customers. Where is the new vision and wide in the work of transport, including supply chain management and logistics, and procurement. The cost of shipping and transport, for example, arrived in shipping and transport costs in the United States almost 6% of gross domestic product. Many manufacturers and retailers were able to use the state in managing the supply chain to reduce inventory and storage costs, with the possibility of delivery to the client quickly. Any successful supply chain linked to the use of a large and adequate transportation. For example, Wal-Mart has been used effectively respond to the transportation system to reduce overall costs. In developing countries, Wal-Mart is running across the docking, a process in the product that is exchanged between the trucks so that each truck to go to a retail store and product suppliers a different form. At the same time, the exponential growth in shipment from China to create opportunities for bottlenecks on both. That is where many leading companies that having invested in the purchase of large offices in China, India, and elsewhere. From this point shows that are two keys players in any means of transport that takes place within the supply chain. Shipper is the party, which requires the movement of product between two points in the supply chain. Carrier is the party who moves or transports the product. For example, when Dell uses UPS to ship the computers from the factory to the customer, Dell is the shipper and UPS is the carrier. Transportation in supply chain cost Chopra and Meindle stated for two kinds of transportation cost: Inbound transportation costs are the costs that included the bringing material into a facility. Outbound transportation costs are the costs that sending material out of a facility. The relationship between both is the outbound transportation cost per unit is higher than inbound costs because the inbound is typically larger. (Chopra Meindle, 2007,p78). They also mintioned increasing the number of facilities can decrease total transportation cost, which refer to the figure Modes of transportation The supply chains follow combination modes of transportation following: Air fright logistic (air) Airfreight logistics is very important in industries and services to complete the supply chain and functions. Where they provide with the speed of delivery, as well as a reduced risk of damage, security, flexibility and ease of access to good views of the ordinary, but the disadvantage is the high courier fees. Reynolds, Feighan (2001) and said air cargo logistics is selected when the value per unit weight and relatively high speed of delivery is an important factor. The properties of airfreight logistics in the following: (1) aircraft, airports and separated. Therefore, the industries only need to prepare aircraft for its operation. (2) it allows for faster delivery in long-haul destinations. (3) air freight transport is not affected by the terrain. The data indicate that the transport of goods in the market continues to grow. There is a view of the directions of global markets and logistics and air cargo also to change their services. Future directions for the development of airfreight, and integration with other transport modes, and the internationalization of the coalition, and the integration of the airlines and the pattern of the future of logistics, and air freight to cooperate with other modes of transport. Such as sea and land transport, to provide service on the base just in time, and transport from door to door. (YUE, TSENG, TAYLOR, 2005) Land logistic (truck, rail, water, and pipeline) Land logistics is considered very important in the logistics activities. They are providing services for air transport and maritime transport from airports and ports. Additional logistical capacity, the positive ground is the high-level access in the wild. The major means of transport logistics land transport by rail, road transport and pipeline transport. For rail transport to and comparative jeopardy of high endurance capacity, the less the impact of climatic conditions, and low power consumption, but that the disadvantages of high cost of basic facilities and the difficulty in the cost of maintenance, with the lack of flexibility of the pressing demands, and time-consuming in the organization of railroad cars. As for the transfer of land, he has the advantages of investment funds cheaper, and ease of access is high, and the mobility and availability. On the other hand, Disadvantages, low capacity, low and safety, and slow. The advantages of pipeline transportation of high capacity, less the impact of climatic conditions, and cheaper the process of drawing, and the continuation of the means of transport; disadvantages of costly infrastructure and the difficulty of control, goods, specialization, and needs regular maintenance. The excessive use of road transport also brings many problems, such as traffic congestion, pollution and traffic accidents. In the future, to improve road transport in the transport efficiency and reliability, a revolution in the field of transport policy and management is required, for example, pricing. (YUE, TSENG, TAYLOR, 2005) Package carriers Package carriers are transportation copmanies such as FedEx, The United States Postal Service (USPS), and the Uninterruptible Power Supply (UPS), The package can be small because the backage cariers use air and should weight about 150 pounds, also package carriers are expensive and cannot compete with less than truckload carriers on price for large shipments. Thus, shippers use package carriers for small and time sensitive shipments. Package carriers also pickup the package from the source and deliver it to the destination site. With an increase in just in time (JIT) deliveries and focus on inventory reduction, demand for package carriers has grown. (Chopra Meindle, 2007. P389) For example, the goal of DHL is nothing less than to transform the logistics industry and to deliver beyond our customers expectations wherever and whenever they need us by offering the most comprehensive suite of services and becoming the only genuine one-stop source for logistics solutions, globally. The supply chain in package carrier for DHL express is the flow of goods, within information and finance. It starts by sourcing raw materials which content semi-finished goods, that are scheduled and transported into factories to be made into finished products (see Diagram up). Then pass through warehouses or distribution centres and are delivered to retailers, wholesalers or direct to consumers homes or business premises. Finally, aftermarket activities involve the maintenance and repair, or the return and recycling, of products at the end of their life. Supply chain planning optimises overall flows and inventories, by balancing resources with demand at all stages. (DHL) Transportation infrastructure and policies The transportation is infrastructure that means roads, seaports, airports, rail, and canal. All these exist along nodes and links of transportation network. All countries are taken responsibility a significant role in building and managing these infrastructure elements. The transportation and infrastructure focuses on operational and policy issues within transportation and infrastructure areas that affect logistics operations. Discussions How can quickly deliver products to consumers with a common consensus on the control operators? That the integration of logistics services and e-business is the current trend is currently in some companies. In order to obtain position that is more beneficial and building a complementary relationship, which is its reliance on networks and industries, such as Yahoo and E-Bay, and often cooperate with the logistics industry. Integration can reduce the middle-level procedures. For example, producers can immediately provide products to more customers of the station. To reduce costs by more efficiently. Besides, companies do not have to take inventory and warehouse costs only, and therefore it becomes a modern industry of the lower cost and more efficient division of specialization. For example, customers can obtain an order of goods shops. Through E-logistics, and the state of competition in industries could be promoted in the knowledge economy. Moreover, to promote business activities should include transport systems in various stages. The integration between different applications is to provide comfort through the promotion of the system of information flow and business processes. For consumers and businesses can make more efficient and easier than through the assistance of e-commerce and the Internet. With physical delivery, still rely on the transportation system to end processes. The cost of transport may be one-third of the cost of logistics. At the same time, transport systems and techniques required in almost every activity of logistics services. And therefore the reform of patterns of business for consideration in transport systems. Conclusion I have tried to cover papers on the part of the scope of logistics activities of transportation systems and attempts to determine the role of transport in transport systems and logistics. Knowing that is the most of the major contents of the research include a review of the development of logistics services, operations and personalities from different transport activities, logistics, and logistics applications in various fields, and logistics city, and the future direction in the development of logistics services, and cooperation with the transport regulations. To summarize, logistics, transport, and some importance in the supply chain must be. First, the transport system and supply have a more and more important in our society. Next, transport and transport systems, logistics and interrelationships that the needs of logistics management and transportation of the implementation of its activities at the same time, it can be to the success of the transport system and supply help to improve traffic and transport, environment and development. Third, as it contributes the highest transport costs among the relevant elements of logistics systems, and improve the efficiency of transport can alter the overall performance of the transportation system and supply. Final, play and transport an important role in the logistics system and activities appear in the various sections of logistics services. Without linking transportation and logistics, services cannot be a powerful strategy to bring its full play. Review of the Transport and Logistics in a broad sense may help to integrate the benefits of different applications of cases to overcome the disadvantages of the present. On the other hand, Review of the transport systems and provides a clear idea on the applications in transportation logistics. The development of logistics services will still be active in the following decades and logistics that can be applied in other areas.
Tuesday, November 12, 2019
English Patient
This key passage is from Michael Nonnative's The English Patient, found in the first few pages of chapter four. Before, this passage, Hanna is sitting beside Llamas while he begins to describe his first expedition in the deserts in the asses. After, Llamas explained how he came to hate nations, but was attached to the desert as It could not be claimed or own. The passage between reinforces the Idea that Identity Is not fixed, It changes over time as people grow and gain experience.This Is made evident through Almanacs character which Is portrayed through the symbol of the desert. Symbolism Is used to encapsulate plot elements that are crucial to the theme and allow the reader a deeper level of Interpretation of the novel. The desert represents transience; It Is neither fixed nor unitary. Further, It cannot be claimed, owned or defined similar to Almanacs Identity, which Is constantly shifting. Llamas explained: ââ¬Å"The breeze that had been refreshing had gradually strengthened.Eve ntually we coked down, and the surface of the desert was changed. â⬠This demonstrates the desert's refusal to use anything artificial such as borders, or names as a landscape because it's continuously changing by sandstorms, similar to how Llamas refuses to reveal his identity because it changes over time and does not reflect where he comes from. Identity is dynamic, and many factors are needed to create an identity. The reader is prompted to reconsider what exactly makes up an identity, what defines who are. Identity should be chosen rather than inherited.
Sunday, November 10, 2019
Panera Bread Company Essay
Executive Summary This report focuses on what Panera Bread Company (PBC) needs to do in order to be profitable, provide healthy and quality foods to consumers and above all retain its leadership potentials in the restaurant and fast food business. The report also looks at what organizationââ¬â¢s vision and mission statement means. It touches strategic objectives by dealing with strategy formulation, analysis and implementation. Corporate governance has to be used to reposition the operations of PBC, analysis of both the micro and macro environmental points of view of the organization ââ¬â where demographic, socio-cultural, political/legal, technological and global considerations of the organization in question. It also dwells on strength, weaknesses, opportunities and threats including studying trend analysis of the organization. Porterââ¬â¢s five forces model, concept of strategy groupings, resource based view, triple bottom line reporting, value chain analysis and financial analysis would have to be examined critically so as to make PBC have competitive advantage over its rivals. Based on the above concepts in this report, it is hereby recommended that PBC has to:â⬠¢open new markets and establish branches in other countries by targeting major cities and towns using same standards, quality, menu, site selection and construction. â⬠¢develop more healthy and quality foods, unique brands, always be ahead of competitors and try to use trend analysis to know the lifestyles of people, tastes, maintain its corporate social responsibility with stakeholders, look at marketing mix, develop its technological base and have a friendly atmosphere at their various cafes including motivating employeesIf these recommendations are implemented, it is believed that PBC will occupy more than 30% of the market share within the next few years. 1.Introduction1.1The aims of the reportâ⬠¢how PBC can reposition its leadership edge by ensuring the management concepts remains special, opening up franchises, encourage transparencies in management practices and beà proactive in terms of change and innovations. â⬠¢how PBC can sustain its rising profit and growth levels. 1.2Objective of the reportâ⬠¢how PBC can ensure consistency in their vision, mission and strategic objectives by using major processes like strategy analysis, strategy formulation, implementation and corporate governanceâ⬠¢Analyzing the micro and micro environments of PBC â⬠¢Using Porterââ¬â¢s five forces model and concept of strategy groupings to make PBC have competitive advantage over their competitors. â⬠¢Using resource base view and value-chain analysis to identify possible opportunities and threats for PBC. 2.Background of the CompanyPBC is a market leader in the restaurant industry business. Started business in 1981 with three bakery cafes and by 1997, their bakery cafes were 160 with branches in five countries and cafes in domestic airports and hotels. PBCââ¬â¢s concept is to sell only fresh dough and no preservatives. Their mission is ââ¬Ëa loaf of bread in every armââ¬â¢ with 18 different products. It intends to establish Wi-Fi access in 2003, and has many awards in its kitty. They have a good distribution network, franchise operations, management information system and supply chain management and highly professionalized staff. The 2004 first quarter performance showed an increase of 26% over same period in 2003 with a highly priced shares. 3.Case Study AnalysisStrategies are set of actions that firms use to achieve its goal. While strategic management focuses where an organization is at present and where it intends to be in the future. The task of analyzing a firmââ¬â¢s internal and external environment and selecting an appropriate strategy is known as strategy formulation. Strategy implementation involvesà putting appropriate controls and organization mechanisms to keep the companyââ¬â¢s chosen strategy into action. Vision statement is the long run aspirations of the organization while mission statement means what is expected of the organization by its stakeholders. This report focuses on micro-macro environment of PBC in order to retain their leadership role, increase market share and profitability. Resource Based View, Porters five forces model, strategic groupings, value chain, SWOT and financial analysis including triple bottom line reporting, and how these concepts would help the PBC to be a market leader would be analysed. 3.1Macro EnvironmentMacro economic factors are political, socio-cultural, environmental, economic, technological and legal. 3.1.1Political considerationPBC has to maintain its corporate governance issue by making sure that taxes are paid promptly and study government policies as it affects the business. At the moment political consideration is not really a big issue with PBC but if it intends to expand its operations, government polices of countries it wants to do business would have to be examined to see if it is business friendly or not. 3.1.2Demographic forcesAreas that are less profitable by the organizations should be closed down and move to areas that increases profitability (Hill et al 2004). Presently there is significant growth for young people and children who rarely cook at home and they patronize these fast casual restaurants. These youths are concerned about their health by eating healthy and quality foods which PBC should target for high profitability. 3.1.3Socio-cultural factorsIncreases in the population of women in workplaces are massive and higher levels of health consciousness have created a boom to many industries (Campbell et al 2006). PBC should study population demographics, income distribution and lifestyles changes within their areas of operation to their advantage. 3.1.4EnvironmentalOperating environments have to be friendly. This shouldà done in such a way that corporate social responsibility to communities in terms of pollution, waste disposal and environmental protection laws are adhered to (Johnson et al 2005). At the moment it runs ââ¬ËOperation Dough Nationââ¬â¢ where all monies received and all unsold inventories goes back to the community it operates. 3.1.5Economic factorsAlmost all the industries are prone to general economic conditions. High interest and exchange rates, and average disposal income can affect organizations to larger extent (Campbell et al 2006). At the moment business is booming for PBC, therefore it has to consider business cycles, product trends, interest rates, inflation and also disposable income of consumers in order to have a competitive edge. 3.1.6TechnologicalThis is now a global phenomenon in virtually every business. For a company to remain competitive it has to enhance its technological base to compete with rivals (Campbell et al 2006). PBC is expanding its technological base by introducing point of sale machines and credit cards network at each cafà ©. This helps in planning for marketing information, product mix, quicker accounting information and other variance analysis. 3.1.7LegalJohnson et al (2005) pointed out that organizations should be cautious of health and product safeties, employment laws and legislations. Taken into account its franchise operations with other organizations, it has to make sure that organizationsââ¬â¢ it enters into agreements comply with its standards, quality, menu, site selection and construction of cafes. The training program organized by the organization prior to franchisee starting business is applauded. 3.1.8GlobalChanges in the environment such as political and economic have created a business boom to some countries, while some have witnessed economic recession as a result of this. Government policies and changing cultural patterns by consumers have had a positive impact in some industries while some are unhappy with these changes (Hill et al 2004). PBC should study these changes and know those ones that affect their businessà especially intra-country trades where they have to convert currencies of their branch companies overseas. 3.2SWOT AnalysisThis shows the internal strengths and weaknesses of an organization from the customersââ¬â¢ point of view as they relate to external opportunities and threats (Hannagan 2002). 3.2.1StrengthStrengths of organizations are the committed leadership zeal of managers, experience in the industry, clear and articulate line with external stakeholders, strong product design and commitment to consumers in the area of innovation (Lee et al 1999). The strengths or core competencies PBC has at the moment over its competitors include the product, distribution and franchising, operations, marketing mix, general managerial ability and low personnel turnover. 3.2.2WeaknessesThese can be in the form of no clear management styles, poor image, research and development issue, competitive disadvantage, poor track record, insider problems, financing problems and possible training problems by managers and supervisors (Dess et al 2007). PBC has to invest in research and development, improve its image with stakeholders and improve on its marketing strategies. 3.2.3OpportunitiesThe growing demand for healthy and quality foods is an opportunity that PBC has at the moment over its competitors and it has to be sustained to make them have continuous dominant role in this industry (Stead et al 2004). Managers of PBC should analyse competitive forces in the restaurant sector in order to identify the various opportunities in terms of product enhancement and new products, create new markets and prediction of trends. 3.2.4Threats:What makes an organization to be strong is to identify possible threats within its operational base. The threats could be in the form of government policies, research, competitive pressures, new entrants, changing customers tastes, adverse demographic changes, recession, growing bargaining power of suppliers and customers (Dess et al 2007). PBC has to layà particular emphasis on new entrants, watch industry indicators, government adverse policies and changes in customers needs and tastes. 3.3Resource based viewThis considers the opportunities available to a company either to add value to its products and services or look at ways of reducing costs (Dess et al 2007). It may be possible to add value to the value chain of an organization in terms of procurement of raw materials and production processes. The present system that PBC is using where it has signed agreement with Dawn Food Products and also having economic of scale in terms of supplies makes the pricing of their product very competitive. 3.4Porterââ¬â¢s five force industry competitionPorterââ¬â¢s five force industry competition include the threat of new entrants, the bargaining power of suppliers, the degree of rivalry among competitors in the same industry, the bargaining power of buyers and the threats of substitutes products. Porter argues that the stronger these forces are within an industrial setting the more limited companies raise prices and earn greater profits (Campbell 2006). As far as this is concerned a strong competitive force can be regarded as a threat because it would drastically reduce the profit of an organization (Williamson 2004). 3.4.1The threat of substitute productFirms within the same industrial setting are competing amongst themselves. Substitutes limits potential returns on an industry by placing a ceiling on the prices companies charge. This should be a lot of concern for PBC because there are lots of organizations offering same product in the market. 3.4.2The threat of new entrantsWhen new entrants enter the industry they tend to take extra effort in order to take full control of the industry. The extent to which new entrants can enter an industry exerts a significant influence on the degree to which companies may act to earn above average in terms of bottom line (Johnson et al 2005). At the moment PBC enjoys some element of economies of scale, brand recognition, access to distribution channels and experience in carrying out operational activities leading to lower cost of production. But it is good for new entrants to enter theà market because this brings about competition in the industry. 3.4.3The power of buyersBuyers are seen as competitive threats when they are in a position to demand lower prices or better service . Conversely when buyers are weak, a company can raise its prices and declare higher profits (Johnson and Scholes 2002). This has to be taken into account by PBC following volume of restaurants around. PBC should recalculate its costs since it intends to increase prices by 2% to see the justification prior to embarking on it. 3.4.4The power of suppliersSuppliers can be viewed as threats when they are able to force up the price for raw materials or reduce quality of materials. However, if suppliers are weak, companies can force down their prices and demand higher raw material quality. PBC believes it can have cost savings from switching to Dawn. 3.4.5Rivalry among established companiesIf rivalry is weak this will result to increase in prices of products at the detriment of consumers and ultimately increase profits and vise versa (Johnson 2005). PBC should regularly study competitorsââ¬â¢ moves. 3.5.Value Chain Analysis (VCA)VCA helps managers to understand how effectively and efficiently the activities of their organizations are structured and coordinated. In other words, it seeks to provide an understanding of how much value an organizationââ¬â¢s activities add to its products and services compared to the costs of the services used in their production. This helps management to identify core activities, know if there is breakdown or blockages to their detriment (Tsai et al 2006). The distribution network of PBC is good since it uses an independent contractor that delivers products to the bakery cafes and thus making the organization to concentrate in the retail operations. Their franchise operations should be sustained. 3.6Strategic groupsPotter (1980) defined strategic (SG) groups as group of firms in the same line of business having identical strategy followingà through the strategic direction. Carroll et al (1992) as cited in Flavian and Polo (1999) organizations within the same SGs often compete for market share. PBC has a lot of organizations within the same SGs, and therefore should use this to their advantage by understudying their competitors strengths and weaknesses. 3.7Tripple bottom lineThis is the combination of social, environmental and financial reporting for an organization to its stakeholders (Dess et al 2006). PBC does not show its report in this format, although this is optional for organizations but to enable stakeholders understand PBCââ¬â¢s business better they should incorporate this into their report like the Operation Dough Nation and the unsold inventory proceeds. 4Recommendationâ⬠¢Encourage research for new products and branding. â⬠¢Explore the possibility of new branches across borders. â⬠¢Improve marketing drive to increase sales since its closing inventory in 2003 was $8066 million dollars as against $5191 million dollars in 2002. â⬠¢Identify threats and weaknesses through strategic groupingsâ⬠¢Pursue recovery of debts from debtors which shows $9646 million in 2003. Reduce its liabilities which gave $35,552 million dollars. â⬠¢Plan for succession incase of possible changes in leadership hierarchy. 5.ConclusionIn conclusion, PBC should regularly scan the micro and macro environments for signals of environmental changes or general trends that are occurring. On observing a trend that may lead to a market changes, the company needs to monitor the change so it has a better understanding of the exact nature of the change and whether it applies to the organization. If the monitoring mechanism suggests the change is relevant, then the company needs to forecast how the change will affect its operations in future. It is then necessary to assess the forecast implications to determine whether the market change will require a change in the companyââ¬â¢s strategy. Benchmarking,à reengineering and total quality management should not be left out. . References Dess, GG, Lumpkin, GT, Eisner, AB 2007, ââ¬ËStrategic managementââ¬â¢ , 3rd edn, McGraw-Hill, New York. Campbell, D, Stonehouse, G, Houston, B 2006, ââ¬ËBusiness strategyââ¬â¢, 2nd edn, Elsevier Butterworth-Heeinemann, Oxford. Stead, EW, Stead, GJ, Starik, M 2004 ââ¬ËSustainable strategic managementââ¬â¢, M.E. SharpeInc., New York. Tsai, YC, Fan, CL, Liou, CN, Wu, CL 2006 ââ¬ËThe application of parts control and standardization by exploration of the value chain in new product development and innovationââ¬â¢, The Business Review, vol. 6, no. 2, pp 213 (online Emerald). Hanaagan, T 2002 ââ¬ËMastering strategic managementââ¬â¢, Palgrave, New York. Hill, CWL, Jones, GR, Galvin, P 2004, ââ¬ËStrategic management: an integrated approachââ¬â¢, 5th edn., John Wiley, Milton. Johnson, G, Schooles, K, Whittington, R 2005, ââ¬ËExploring corporate strategyââ¬â¢, 7th edn, Prentice Hall, Harlow. Williamson, D, Jenkin, W, Cooke, P, Moreton, KM 2004, ââ¬ËStrategic management and business analysisââ¬â¢, Elsevier Butterworth-Heinemann, Burlington. Johnson, G, Scholes, K 2002, ââ¬ËExploring corporate strategyââ¬â¢, 6th edn., Prentice Hall, Harlow. Porter, ME 1980, ââ¬ËCompetitive strategyââ¬â¢, The Free Press, New York
Friday, November 8, 2019
Free Essays on Music Censorship
Music Censorship: A Violation of The First Amendment ââ¬Å"Eventually it was discovered that God did not want us to be all the same. This was bad news for the Governments of the Worldâ⬠¦ Mankind must be made more uniformly if THE FUTURE was going to work outâ⬠¦It was about the time that someone came up with the idea of TOTAL CRIMINILATION, based on the principle that if we were ALL crooks we could at least be uniform to some degree in the eyes of the law. Shrewdly our legislators calculated that most people were too lazy to perform a REAL CRIME. So new laws were manufactured making it possible for anyone to violate them at any time of the day or nightâ⬠¦which is on of the reasons why music was eventually made ILLEGAL.â⬠-Frank Zappa, liner notes from Joeââ¬â¢s Garage, Acts 2 (CBS, 1979) The first Amendment to the United States Constitution is as follows: ââ¬Å"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievancesâ⬠(Friendly). Music, like any other form of expression in this country, is protected by the first amendment from anyone who tries to censor it; and it would be a violation of constitutional rights to censor music. Of all the rights and freedoms guaranteed us in the Constitution, it is generally agreed that those set forth in the First Amendment are among the most vital and precious. The first amendment is basically the foundation of our Wentz 2 country, and censorship has no place in democracy. No government, special interest group, or individual should be allowed to deny anyone the freedom of expression. They cannot be given the power to control what one chooses to compose, express or listen to. Every person has a right t... Free Essays on Music Censorship Free Essays on Music Censorship Music Censorship? Webster defines music to be ââ¬Å"a : the science or art of ordering tones or sounds in succession, in combination, and in temporal relationships to produce a composition having unity and continuity b : vocal, instrumental, or mechanical sounds having rhythm, melody, or harmony,â⬠and defines censorship as ââ¬Å"examining in order to suppress or delete anything considered objectionableâ⬠. Therefore music censorship is the attempt to suppress or change any part of music that seems objectionable to a certain group of people. Throughout history every advancement in music is met with dispute. Bachââ¬â¢s complex harmonies and counter points, Jazz, and Rock ââ¬Ënââ¬â¢ Roll have all been met with opposition that it has had to break through. It is the same with some of todayââ¬â¢s misinterpreted and misunderstood music(Lombardi). The history of censorship has been long in the making. The enlightenment in Europe was a time of intellectual stimulation and broadening of though, which migrated to the newly forming United States. It was in this time period that censorship by the government was put to question. People saw the futility of censorship in a free society. Heroic figures from the 18th century including Thomas Jefferson, Benjamin Franklin, and James Madison all saw censorship as an enemy during the revolution saying ââ¬Å"â⬠¦censorship reflects a superstitious and ignorant pastâ⬠¦.and inhibits social and scientific progressâ⬠. The framers of the constitution wanted to keep speech and press free, but despite these Enlightenment ideas embodied in the constitution censorship still prevailed. (Garry) In his book An American Paradox, Censorship in a Nation of Free speech, Patrick Garry tells examples of when censorship failed and to the favor of the opposition. In the first example Garry tells of how in 1798 John Adams imposed a law forbidding criticism of the government. This law was meant to silence the voice of th... Free Essays on Music Censorship Music Censorship From the shocking pelvis shaking of Elvis Presley in the 1950ââ¬â¢s, to the much questioned lyrics of Eminem and Marilyn Manson of today, the music industry has always had a way of stirring up controversy in the United States (Zuckerman152). Some may argue that music is too violent and too negative for todayââ¬â¢s youth. To other people, music is simply freedom of speech. Itââ¬â¢s expression. The battle of music censorship has been fought tome and again, and still there seems to be no resolution to this debate. The government should not have the right to censor music. Some people may use the influence of music as an argument to censor. But, what is negative influence. Who decides? "Whether a person finds a work obscene depends largely on his or her moral or religious beliefs. These views change with each generation and further complicate the censorship dilemma" (Steffens 97). Religious or moral beliefs have a great influence on how a person feels about censorship, and as generations pass on the common beliefs on it may change. ââ¬Å"They (Americans) may be irritated or outraged, by pop culture, but the polls tell us they understands that the principal causes of violence and other national problems lie elsewhere then in the entertainment industryâ⬠(Zuckerman 153). Is there any hard, solid evidence that music has this amazing ability to brainwash the youth and force them to break the law or end their life? Music is not responsible for what goes wrong in society. Many children often hear explicit language from older siblings or parents at an early age. If parents cannot censor themselves in front of their own children, they should not have the right to censor somebody else. If a parent takes their child to a record store and buy them a new album, they should know what they are purchasing by screening the album first for any questionable content. If they don't like the content, they can always return it to the store.... Free Essays on Music Censorship Music Censorship: A Violation of The First Amendment ââ¬Å"Eventually it was discovered that God did not want us to be all the same. This was bad news for the Governments of the Worldâ⬠¦ Mankind must be made more uniformly if THE FUTURE was going to work outâ⬠¦It was about the time that someone came up with the idea of TOTAL CRIMINILATION, based on the principle that if we were ALL crooks we could at least be uniform to some degree in the eyes of the law. Shrewdly our legislators calculated that most people were too lazy to perform a REAL CRIME. So new laws were manufactured making it possible for anyone to violate them at any time of the day or nightâ⬠¦which is on of the reasons why music was eventually made ILLEGAL.â⬠-Frank Zappa, liner notes from Joeââ¬â¢s Garage, Acts 2 (CBS, 1979) The first Amendment to the United States Constitution is as follows: ââ¬Å"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievancesâ⬠(Friendly). Music, like any other form of expression in this country, is protected by the first amendment from anyone who tries to censor it; and it would be a violation of constitutional rights to censor music. Of all the rights and freedoms guaranteed us in the Constitution, it is generally agreed that those set forth in the First Amendment are among the most vital and precious. The first amendment is basically the foundation of our Wentz 2 country, and censorship has no place in democracy. No government, special interest group, or individual should be allowed to deny anyone the freedom of expression. They cannot be given the power to control what one chooses to compose, express or listen to. Every person has a right t... Free Essays on Music Censorship Music Censorship in Todayââ¬â¢s Society Music is the most influential of all art forms. It can be expressed in thousands of ways depending on the artist. When music is censored, the freedom from the beautiful release of self-expression is confiscated. Thoughts and feelings are the most sacred possessions human beings have. The Constitution of the United States of America allows for all to asseverate these feelings and make them known to all who are willing to listen. The only barrier an artist should tolerate is one of his own creations. According to author Martha Graham, ââ¬Å"Music, like art, mirrors the society that creates it, listens to it, and makes it a part of lifeâ⬠¦censorship follows the same principleâ⬠. When music is censored, America has become unjustified. American children of todayââ¬â¢s society know firsthand what it is like to feel powerless in a world where their voices often go unheard. Particular artists/musical groups use kids as their target audience. Whether it is through sexuality, lyrics in which teens feel they can relate, or other desirable aspects such as money or expensive cars and homes, adolescents are strongly attracted to them and the lifestyles that they portray. The question asked by many is ââ¬Å"do kids become obsessed with these stars to a point where it may cause them to temporarily lose control of themselves?â⬠The United States Government will need to broaden its thinking before this type of censorship is effective or logical. Unfortunately, our government picks and chooses its battles based on the strengths of lobbyist and the cost of threatened re-election. The point is not if this thinking is right or wrong, the point is how authority is allowed to dictate what is appropriate. Everyone is entitled to have and hold his or her own opinions. It is also their right to voice them to whomever, whenever. People are unwilling to support the concept as bi-directional. The common myth of society is th...
Wednesday, November 6, 2019
Doler Conjugation in Spanish, Translation, and Examples
Doler Conjugation in Spanish, Translation, and Examples The Spanish verb doler means to cause pain. It is always conjugated in the third person singular or plural, depending on what is causing the pain, and the indirect object pronoun is always included. Doler is an intransitive verb that requires changes to the common subject, verb, object sentence structure. This article includes doler conjugations in the present, past, future, and conditional indicative mood, the present and past subjunctive, and other verb forms. Youll also find examples and translations of the verb doler in frequently used scenarios. Using the Verb Doler Although similar in meaning, doler, an intransitive verb, cant be used to translate the verb to hurt without changing the sentence structure. To express the meaning of the transitive verb to hurt someone or something, in Spanish you would need a different verb such as herir, lastimar, or hacer daà ±o. A different structure should be used in Spanish for the verb doler. Notice the pattern in these sentences: Me duele el diente. (My tooth hurts. Literally, the tooth hurts me.)Me duele amarte. (It hurts me to love you. Literally, to loveà you pains me.)à ¿Te duele la cabeza? (Do you have a headache? Literally, is the head hurting you?)à A mi hijo le duele la garganta. (My sons throat hurts. Literally, the throat is causing pain to my son.) Note, first, that doler takes an indirect-object pronoun (as in le in the final example). Then, note that the pronoun refers to the person who is experiencing the pain, not what is causing the pain, as is often the case in English. It is usual, as in the above examples, to place the subject of doler after the verb, but it isnt required. Thus, you could say either me duele el oà do or el oà do me duele for I have an earache, but the former is much more common. One of the peculiarities of Spanish is that the language doesnt use the equivalent of my when referring to body parts with the verb doler (and in many other instances). See how the first example above says el diente, not mi diente. The same is true in the following examples: Me duelen los ojos al leer. (My eyes hurt when I read. Literally, the eyes pain me when I read.)Si te duele el pie es mejor que vayas a un doctor. (If your foot hurts, it is best that you go to a doctor. Literally, if the foot pains you, it is best that you go to a doctor)Nos duelen las manos y las rodillas. (Our hands and knees hurt. Literally, the hands and knees pain us.) Conjugating the Verb Doler Doler is often used with the body part that hurts as the subject of the sentence, and the person affected as the indirect object. Therefore, the tables below show examples using that format: the verb doler is always conjugated in the third person singular or plural, depending on what is causing the pain, and the indirect object pronoun is always included. For example, la cabeza (head) would use the singular conjugation, Me duele la cabeza (My head hurts), but los pies (feet) would use the plural conjugation Me duelen los pies (My feet hurt). Also, the pain can be caused by something expressed with a verb phrase or clause, in which case the singular form of the verb is used. For example, Le duele dejar al bebà © en la guarderà a (It hurts him to leave the baby at the daycare). Doler is a stem changing verb, so it is conjugated irregularly in much the same way as contar: If the stem is stressed, the -o- becomes -ue-. Present Indicative Notice that in the present indicative there is a stem change o to ue. A mà me duele(n) Me duele la cabeza de tanto estudiar. My head hurts from studying so much. A ti teduele(n) Te duelen los pies despuà ©s de la carrera. Your feet hurt after the race. A usted/à ©l/ella leduele(n) Le duele el corazà ³n por la triste noticia. Her heart hurts because of the sad news. A nosotros nosduele(n) Nos duelen los brazos de tanto trabajar. Our arms hurt from working so much. A vosotros osduele(n) Os duele la espalda despuà ©s del accidente. Your back hurts after the accident. A ustedes/ellos/ellas lesduele(n) Les duele gastar tanto dinero. It pains them to spend so much money. Preterite Indicative A mà me dolià ³/dolieron Me dolià ³ la cabeza de tanto estudiar. My head hurt from studying so much. A ti tedolià ³/dolieron Te dolieron los pies despuà ©s de la carrera. Your feet hurt after the race. A usted/à ©l/ella ledolià ³/dolieron Le dolià ³ el corazà ³n por la triste noticia. Her heart hurt because of the sad news. A nosotros nosdolià ³/dolieron Nos dolieron los brazos de tanto trabajar. Our arms hurt from working so much. A vosotros osdolià ³/dolieron Os dolià ³ la espalda despuà ©s del accidente. Your back hurt after the accident. A ustedes/ellos/ellas lesdolià ³/dolieron Les dolià ³ gastar tanto dinero. It painedthem to spend so much money. Imperfect Indicative The imperfect can be translated to English as was hurting or used to hurt. A mà me dolà a(n) Me dolà a la cabeza de tanto estudiar. My head was hurting from studying so much. A ti tedolà a(n) Te dolà an los pies despuà ©s de la carrera. Your feet were hurtingafter the race. A usted/à ©l/ella ledolà a(n) Le dolà a el corazà ³n por la triste noticia. Her heart was hurting because of the sad news. A nosotros nosdolà a(n) Nos dolà an los brazos de tanto trabajar. Our arms were hurtingfrom working so much. A vosotros osdolà a(n) Os dolà a la espalda despuà ©s del accidente. Your back was hurtingafter the accident. A ustedes/ellos/ellas lesdolà a(n) Les dolà a gastar tanto dinero. It used topainthem to spend so much money. Future Indicative A mà me doler(n) Me doler la cabeza de tanto estudiar. My head will hurt from studying so much. A ti tedoler(n) Te dolern los pies despuà ©s de la carrera. Your feet willhurt after the race. A usted/à ©l/ella ledoler(n) Le doler el corazà ³n por la triste noticia. Her heartwill hurt because of the sad news. A nosotros nosdoler(n) Nos dolern los brazos de tanto trabajar. Our arms willhurt from working so much. A vosotros osdoler(n) Os doler la espalda despuà ©s del accidente. Your back willhurt after the accident. A ustedes/ellos/ellas lesdoler(n) Les doler gastar tanto dinero. It willpainthem to spend so much money. Periphrasticà Future Indicativeà A mà me va(n) a doler Me va a doler la cabeza de tanto estudiar. My head is going to hurt from studying so much. A ti teva(n) a doler Te van a doler los pies despuà ©s de la carrera. Your feet aregoing tohurt after the race. A usted/à ©l/ella leva(n) a doler Le va a dolerel corazà ³n por la triste noticia. Her heartis going to hurt because of the sad news. A nosotros nosva(n) a doler Nos van a dolerlos brazos de tanto trabajar. Our arms aregoing tohurt from working so much. A vosotros osva(n) a doler Os va a dolerla espalda despuà ©s del accidente. Your back is going tohurt after the accident. A ustedes/ellos/ellas lesva(n) a doler Les va a dolergastar tanto dinero. It is going topain them to spend so much money. Present Progressive/Gerund Form The present progressive is a verb form that uses the present participle or gerund. Present Progressive ofDoler est(n) doliendo A ella le est doliendo el corazà ³n por la triste noticia. Her heart is hurting because of the sad news. Doler Past Participle The present perfect is one of the compound verb forms that uses the verb haber and the past participle. Present Perfect of Doler ha(n) dolido A ella le ha dolido el corazà ³n por la triste noticia. Her heart has hurt because of the sad news. Doler Conditional Indicative A mà me dolerà a(n) Me dolerà a la cabeza de tanto estudiar si no tomara un descanso. My head would hurt from studying so much if I didn't take a break. A ti tedolerà a(n) Te dolerà an los pies despuà ©s de la carrera si no tuvieras buenos zapatos. Your feet wouldhurt after the race if you didn't have good shoes. A usted/à ©l/ella ledolerà a(n) Le dolerà a el corazà ³n por la triste noticia, pero ella es muy fuerte. Her heartwould hurt because of the sad news, but she is very tough. A nosotros nosdolerà a(n) Nos dolerà an los brazos de tanto trabajar, pero ya estamos acostumbrados. Our arms wouldhurt from working so much, but we are used to it. A vosotros osdolerà a(n) Os dolerà a la espalda despuà ©s del accidente si hubiera sido ms serio. Your back wouldhurt after the accident if it had been more serious. A ustedes/ellos/ellas lesdolerà a(n) Les dolerà a gastar tanto dinero si no fueran millonarios. It wouldpain them to spend so much money if they weren't millionaires. Doler Present Subjunctive In the present subjunctive the stem change o to ue does occur, just like in the present indicative tense. Que a mà me duela(n) La maestra espera que no me duela la cabeza de tanto estudiar. The teacher hopes that my head doesn't hurt from studying so much. Que a ti te duela(n) El entrenador espera que no te duelan los pies despuà ©s de la carrera. The coach hopes that your feet don't hurt after the race. Que a usted/à ©l/ella le duela(n) Su madre espera que no le duela el corazà ³n por la triste noticia. Her mother hopes that her heart doesn't hurt because of the bad news. Que a nosotros nos duela(n) El jefe espera que no nos duelan los brazos de tanto trabajar. The boss hopes that our arms don't hurt from working so much. Que a vosotros os duela(n) El doctor espera que no os duela la espalda despuà ©s del accidente. The doctor hopes that your back doesn't hurt after the accident. Que a ustedes/ellos/ellas les duela(n) El vendedor espera que no les duela gastar tanto dinero. The salesman hopes that it does not painthem to spend so much money. Doler Imperfect Subjunctive There are two options for conjugating the imperfect subjunctive, both considered correct. Option 1 Que a mà me doliera(n) La maestra esperaba que no me doliera la cabeza de tanto estudiar. The teacher hoped that my head wouldn't hurt from studying so much. Que a ti te doliera(n) El entrenador esperaba que no te dolieran los pies despuà ©s de la carrera. The coach hoped that your feet wouldn't hurt after the race. Que a usted/à ©l/ella le doliera(n) Su madre esperaba que no le doliera el corazà ³n por la triste noticia. Her mother hoped that her heart wouldn't hurt because of the bad news. Que a nosotros nos doliera(n) El jefe esperaba que no nos dolieran los brazos de tanto trabajar. The boss hoped that our arms wouldn't hurt from working so much. Que a vosotros os doliera(n) El doctor esperaba que no os doliera la espalda despuà ©s del accidente. The doctor hoped that your back wouldn't hurt after the accident. Que a ustedes/ellos/ellas les doliera(n) El vendedor esperaba que no les doliera gastar tanto dinero. The salesman hoped that itwouldn't pain them to spend so much money. Option 2 Que a mà me doliese(n) La maestra esperaba que no me doliese la cabeza de tanto estudiar. The teacher hoped that my head wouldn't hurt from studying so much. Que a ti te doliese(n) El entrenador esperaba que no te doliesen los pies despuà ©s de la carrera. The coach hoped that your feet wouldn't hurt after the race. Que a usted/à ©l/ella le doliese(n) Su madre esperaba que no le doliese el corazà ³n por la triste noticia. Her mother hoped that her heart wouldn't hurt because of the bad news. Que a nosotros nos doliese(n) El jefe esperaba que no nos doliesen los brazos de tanto trabajar. The boss hoped that our arms wouldn't hurt from working so much. Que a vosotros os doliese(n) El doctor esperaba que no os doliese la espalda despuà ©s del accidente. The doctor hoped that your back wouldn't hurt after the accident. Que a ustedes/ellos/ellas les doliese(n) El vendedor esperaba que no les doliese gastar tanto dinero. The salesman hoped that itwouldn't pain them to spend so much money. Doler Imperative The imperative mood is used to give orders or commands, but it doesnt apply to the verb doler. In this case, since the subject is the body part or cause of the pain, the imperative verb forms are never used. To tell a person to hurt someone else, you would use a different verb, such as herir, lastimar or hacer daà ±o.
Sunday, November 3, 2019
Frankfurts notion of Second Order Volition Essay
Frankfurts notion of Second Order Volition - Essay Example Frankfurtââ¬â¢s essay opens with his views on the concept of ââ¬Å"personâ⬠. When his contemporaries seek to define a person as merely a body with states of consciousness, Frankfurt begs to differ. He states that a person is not just the singular form of ââ¬Ëpeopleââ¬â¢. It does not merely refer to the members of certain biological species with a set of specific physical and mental characteristics that are supposed to be uniquely human. Humans are not the only creatures with desires, motives and choices. But it is the capacity of reflective self-evaluation and a desire to be different from what they are that makes the persons a class apart from the other living beings.The primary feature that differentiates a person from other creatures is his structure of will. To define ââ¬Å"willâ⬠, one needs to first understand the concept of first order desire. A first order desire is simply a desire for something or a desire to do or not to do one thing or another. For exam ple, a desire to smoke a cigarette or to watch a movie or to read a book is a first order desire. ... Therefore, a desire which determines the behaviour of a person at a critical moment and leads him to action in the presence of other conflicting desires is termed as will. (Frankfurt, 1971, pp. 4-5) To define ââ¬Å"free willâ⬠, Frankfurt introduces another type of desires- second order desires. A second order desire refers to a desire about a first order desire or a desire to have or not to have a first order desire. Or in other words, a second order desire is a manifestation of the uniquely human ability of reflection on oneââ¬â¢s first order desires. For example, a habitual smoker may have a desire to smoke but a smoker who is trying to quit may want ââ¬Å"not to have a desire to smokeâ⬠. The latter is a case of second order desire.It is these second order desires that are regarded as a mark of ââ¬Ëpersonhoodââ¬â¢. (Frankfurt, 1971, p. 3) Second order desires which refer to effective first order desires are termed as second order volitions. In simpler terms, wh en a person wants a second order desire to be his will, it becomes a second order volition. To illustrate the concept better, we may take the example of a psychologist dealing with a drug addict patient. To understand his patient better, he may want to have the desire for drugs (second order desire). But he does not want his desire to be effective (to actually take drugs). The doctor thus demonstrates a second order desire but no second order volition. It is not second order desire but second order volition that is essential to being a person and this leads us to the definition of free will and freedom of action.((Frankfurt, 1971, p. 5) Free will is a situation wherein a personââ¬â¢s second order volition determines his behaviour. The definition of ââ¬Å"freedom of willââ¬
Friday, November 1, 2019
Why do you think it is important to manage know-who and stimulating Essay
Why do you think it is important to manage know-who and stimulating connection between people - Essay Example The primary function of knowhow companies and organizations is to furnish complicated, non-stereotypical and nonconventional, and creative solutions (Charan, 2007). So, its gets utterly important to manage knowhow as the primary asset of such organizations is their knowhow capital and not some unwieldy production process or their financial assets. This calls for a unique management approach that places individuals at the center and specializes in connecting people to give way to compatible, stress free and culturally harmonized teams (Charan, 2007). It is also vital to manage knowhow because knowhow only becomes profitable when it is tagged to a positive business idea (Sveiby & Lloyd, 1989). Human networking plays a pivotal role in the knowhow organizations as fostering relationships with suppliers, customers and compatible and likeminded organizations ensure a prompt risk management and streamline the flow of information that constitutes the raw material of a knowhow company (Sveiby & Lloyd, 1989). There is no denying the fact that knowhow also requires financial capital to succeed. Proper management of knowhow and stimulating connections between people promotes a coordinated cooperation between the people owning knowhow capital and the stakeholders representing financial capital (Sveiby & Lloyd, 1989).
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