Strategic Transformation of Ford Motor Company Assignment

Strategic Transformation of Ford Motor Company - Assignment Example Ford Motors is a leading global automaker company based in the United States. In recent years, through sustained strategic direction and leadership, the company has positioned itself among the world’s leading companies in the automobile industry. Porter’s five forces model consists of elements such as bargaining power of buyers, bargaining power of suppliers, the threat of substitute products, threats of new entrants and competitive rivalry within an industry. The five forces are illustrated accordingly. Bargaining power of suppliers in relation to industry context can be examined by assessing certain determinants such as labor, services, and raw materials among others (Karagiannopoulos & et. al., 2005). The power of the suppliers depends on the efficiency as well as the inefficiency of the market forces (Purdue University, 2010). With regard to Ford Motors, the bargaining power of suppliers in the industry is quite high. It has emerged as a major threat for the automaker companies globally in cent years. However, Ford has been able to devise prudent strategies to significantly mitigate the threat of supplier power. For many parts suppliers, Ford is a key organization to obtain sustained contracts in the long run. Thus, any discontinuation of the requirements of Ford might be quite difficult for the supplier companies to deal with. Ford has trimmed down its number of suppliers from 3300 to around 1600 in the past decade as a part of its strategy to solidify a relationship with suppli ers and improve its grip on the suppliers bargaining power (Dornbach-Bender & et. al., 2009). Bargaining power of buyers signifies the impact that the customers provide on the profitability of a business organization. The buyers in the market have more powers when certain specified conditions meet such as an industry has a number of companies delivering the products thus facilitating the buyers with varied choices in terms of companies and products.

The Link between Crime and Mental Disorder Essay Example for Free

The Link between Crime and Mental Disorder Essay In an effort to understand, and therefore reduce or eliminate crime, studies are conducted that examine the many factors that influence or affect it. One of the influences [or possible influences] that affect crime [particularly violent crime]is mental disorder. Several studies have been carried out that investigate this link, which have uncovered much important information. These studies [as with most studies] however, are not without bias. Things such as definition of mental disorder or abnormality are often questionable, as are sample distributions. There are also individual factors, such as type of mental disorder and previous criminal records of subjects, which can influence the results. After taking these factors into account, the research results when examined, suggest, contrary to popular belief, that individuals with mental disorders are generally no more likely to commit crime than individuals without mental disorder. It is a common assumption, that whenever a brutal, violent or senseless crime is committed, it is by someone who is mentally ill or sick. Blaming violent and senseless crime on mental disorders may be comforting but it is not necessarily accurate. A stereotype has developed of the insane mass murderer largely due to the media, however, research evidence suggests that this stereotype is far from accurate. Much research on the link between crime [specifically to this discussion, violent crime] and mental disorder has been conducted, however there are different factors that need to be taken into account when examining this link. Definition of mental disorder is a major one, along with possible uneven sample distributions. Also, there have been changes in mental health and criminal justice policies that have increasingly made hospitalisation restricted to those who are more socially disruptive or dangerous. With these considerations in mind, research evidence can be then be examined. As previously stated, there are many problems with the mental disorder definition. The major symptom of mental disorder is abnormal behaviour, however, there is no strict criteria that sufficiently defines abnormality. Behaviour could be labelled abnormal if it deviates from the statistical  norm, however, as the American Psychiatric association [1987] notes there are no sharp boundaries between normality and abnormality. It can be concluded from this then, that there are no sharp boundaries between mental order and mental disorder. Behaviour could also be labelled abnormal if it deviates from the cultural norm. This is problematic because what society deems as normal is subjective and constantly changing. For example, homosexuality was regarded as being a mental disorder until 1973. These are only two of the ways in which mental disorder is possibly identified but others, such as behaviour that is subjectively distressing, deviates from optimal social or psychological functioning or fails to meet some ideal of health [Blackburn, 1993, p.247] are all subjective and are by no means exact. As such, these classifications have numerous exceptions. Another element of research on the mental disorder and crime link that is often questioned, is the sample distribution. Some believe that many of the studies conducted in this area have an uneven sample distribution that introduces bias in the results. As with many studies conducted in the criminology field, there is the question: should only those convicted of crime [and in this case, those officially diagnosed with a mental disorder] be studied or, should only those who indulge in criminal activity but have not yet been detected by the criminal justice system [or those with undiagnosed mental disorders] be studied, or both? Furthermore, if it is decided that both should be studied, how can people who commit crime, but have not been convicted, or people with mental disorders who have not been diagnosed, be included? These are difficult questions that are up to the individual[s] who are conducting the study to answer, and, different answers, can and usually will, dramatically affect the results. This, however, is not the only way in which a sample distribution could become uneven. A study conducted by Teplin [1984, 1985] cited by Bartol [1999, p.143] examined the tendency of police officers to arrest individuals with a mental disorder. Graduate students of psychology looked at 1382 encounters, and evaluated the mental health of the citizens according to a symptom checklist. The police qualified 506 citizens as suspects and arrested 148.  The students classified 30 of the 506 suspects and 14 of the 148 suspects that were arrested as having a mental disorder. Therefore it was found that 20% more individuals were arrested with mental disorder symptoms than those without. This is believed to be due to the fact that many people with a mental disorder have symptoms such as verbal abuse, belligerence, and general disrespect. This makes it fairly understandable that their arrest record is significantly higher than the general population, but it must be understood that it does not indicate a greater proneness to criminal activity. While considering uneven sample distributions, one must also consider the relatively recent changes in mental health and criminal justice policies. Long term inpatient care or hospitalisation of the mentally disordered is a practice that has largely disappeared [Bartol, 1999, p.141]. Therefore, the mentally disordered have become a more visible presence in the community, and so, if a problem occurs, it is usually up to the law enforcement officials to handle it. According to Teplin, as a result jails and prisons may have become the long-term repository for mentally ill individuals who, in a previous era, would have been institutionalised within a psychiatric facility [cited in Bartol, 1999, p.141]. Also, it has been suggested that studies which examine the criminal activity of recently released patients may be biased, as there has been an increased number of patients with previous arrest histories being admitted to mental hospitals from 15% to 40% over a thirty year period. This is due to an increasing tendency of courts to refer habitual offenders for psychiatric diagnosis. Therefore any post treatment criminal activity may not be related to the mental disorder at all, but more related to their having a previous criminal record. Once these, as well definition issues have been considered, the actual relationship between mental disorder and crime [specifically violent crime], and the research evidence can be examined. There have been several studies conducted on criminal behaviour in psychiatric patients, with the earlier findings indicating that mentally disordered individuals are no more likely to commit violent crimes than  those in the general population. However, more recent research has shown that male psychiatric patients who have a history of at least one violent incident, have a high probability of being violent within a year after being released from hospital. Rabkin [1979], cited by Bartol [p.142], conducted a review of the criminal behaviour of discharged mental patients, and found that the arrest rate for discharged mental patients was higher than the rate for the general population, particularly for assaultive or violent behaviour. There are two explanations suggested for this. Firstly, a small percentage of the patients studied that had criminal records before being admitted to hospital continued their criminal activities after being released. These patients substantially inflated the arrest rates for the other mental patients. Also there is the factor of arrest bias, as was previously mentioned. Secondly, Rabkin found that most offences committed after discharge were by those diagnosed with alcoholism, substance addiction or personality disorder. Alcoholism and substance abuse appear quite often in this type of research but do not represent serious or typical mental disorders, and the classification of personality disorders are vague and often questioned. It was found that with these three categories excluded, or considered separately, the remainder of the group appeared to be considerably less dangerous than those in general population. Another study conducted a 19 month follow up of discharged mental patients in 1968 and 1975 by Steadman, Cocozza and Melick, cited by Blackburn [1993, p. 266] Of the two samples, 6.9% and 9.4% were arrested about three times higher than the general population rate. It was found that the arrests after release were related to prior arrests, age or alcohol abuse. For patients with no prior arrests, the level was lower than that of the general population. Similarly, a study conducted by Linqvist and Allebeck {1990] cited by Blackburn {1993} which did a fifteen year follow up of released mental patients found that offence rates for the males were only slightly higher than the general population, but on the other hand, females offended at twice the expected rate. In contrast to these studies, one conducted by  Sosowsky, which studied patients with no previous arrest records, found that the arrest rates were five times higher than those of the local county in which it was conducted. It was believed, however, that when other factors such as age, race or socioeconomic status are taken into account in this study, the arrest rate becomes comparable to that of the general population. The results of these studies imply that criminal activity after discharge moreso depends upon previous arrest and other demographic factors than the mental disorder itself. Another way to examine the mental disorder and crime link is to look at mental disorder in prisoners, as opposed to criminal activity in individuals with a mental disorder. Mental disorders in prisoners is sometimes believed to be evidence of a link between crime and abnormal behaviour. Research reveals that the rate of mental disorders in prison significantly varies ranging from five to 16 percent psychotic [Teplin, 1990, cited by Bartol, 1999] In New York prisons, it is estimated that about eight percent of inmates have severe mental disabilities while sixteen percent have significant mental disabilities. A study conducted by Taylor of life sentenced prisoners in London [mostly murderers] found that 9% had symptoms of schizophrenia, 13% were found to be depressed and 33% personality disordered. These statistics are mostly similar to others found in Britain, but are significantly higher than those found elsewhere. This form of research, however is unclear on whether the mental disorder was present before being imprisoned, or if it happened as a result of being imprisoned. It is believed that prison may have detrimental effects on mental states meaning that the mental disorder may have come after the crime was committed. This would not be reflected in the results and so, would therefore introduce a bias. Research evidence indicates that there is no significant link between mental disorder and violence, however, it has been suggested that some disorders increase the risk. A study conducted in 1982 by Hafner and Boker, cited by Blackburn [p.269] surveyed all 533 case of murder, attempted murder and manslaughter in the Federal Republic of Germany between 1955 and 1964, who were found to be not responsible for their actions because of a serious mental disorder  [schizophrenic or affective psychosis, organic brain disorder, mental retardation]. The authors of the survey estimated that the mentally disordered accounted for 2.9% of convictions for serious violence and for 5.6% of murders. Hafner and Boker found that schizophrenia was overrepresented and affective psychosis underrepresented in their sample. Though the risk of serious violence in schizophrenia is very low [about 0.05%], it is much higher than other disorders, such as affective disorders and mental retardation [0.006%]. Depression has also been linked to violence, particularly homicide, mainly among females, Some recent research has indicated that there has been a link between violence and post traumatic stress disorder. Despite the fact that aggression is not among the criteria for diagnosing this disorder, irritability is, and it is also sometimes associated with unpredictable explosions of aggressive behaviour [American Psychiatric Association, 1987, cited in Blackburn, p. 273]. A study of 100 Vietnam veterans with PTSD found that 97% were explosive and irritable, 87% were socially avoidant and 72%were substance abusers. [Solursh, 1989, cited in Blackburn, p.273. This study, however, is unclear on the actual arrest or assault level. With the exception of some forms of personality disorder, no mental disorder seems strongly associated with violent behaviour, unless, as was previously stated, there is already a history of violence in the patient. Though schizophrenia has higher rates of violent occurrence, it is important to note that very few patients with this disorder actually commit acts of violence approximately 5 out of every 10 000 schizophrenics are likely to become violent. Only in very rare case does mental disorder completely absolve anyone of responsibility for their actions. [Bourne and Russo, 1998, p.569] The link between crime and mental disorder is a hard one to measure, because of the many and various other factors that come into play. Sample distributions are always questionable, as are specific definitions. Also, it is reasonable to assume that because neither crime nor mental disorder is extremely rare, it is inevitable that the two will overlap, however correlation is not causation [Bourne and Russo, 1998, p.571] the two may  exist even in the absence of a causal relationship. Research evidence suggests that no form of mental disorder [with the possible exception of some forms of personality disorder] seems strongly associated with violent crime, unless, the individual already has a history of violence some research in this area suggests that these individuals may be dangerous, and are prone to indulging in violent behaviour. However, the stereotype of the psychotic mass murderer that kills indiscriminately is inaccurate. Though, mental disorder may be one of the factors, it is seldom the only factor in play. Having a mental disorder rarely excuses or accounts for any act of crime, violent or otherwise. The numerous studies on the subject have generally found that the link between mental disorder and crime is not as significant as is often assumed.

Education Essay -- essays research papers

School the great Equalizer In his essay, “I should have never quit school';, D. DeMott rejects the myth that all social classes receive the same education. He supports his essay by denying that the stating line is the same for all students in the American educational system. DeMott begins his essay by giving us an example of the mythological belief that school is a fair institution where everyone begins at the same starting line. Next, DeMott gives general ideas about the American publics denials, and the educational system, provides for students. To support these denials DeMott gives us some assumptions of the general public’s beliefs on education.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The first assumption is about intelligence, an individual is college material, intellectual because he/she was born smart and it’s up them to take advantage of it, and that teachers see this genetic trait. According to your intellectual level the school system will see this and place you in the proper educational training which best sues you.   Ã‚  Ã‚  Ã‚  Ã‚  The next assumption is that your community motivates lower class students to attend institutions of higher education by providing them with financial assistance. The difference of the social economic level of the community abilities to provide for the st...

Cultural Diversity in Business :: essays research papers

In their eagerness to avoid the courts and editorial pages, most firms in America, and increasingly in Europe, now pay close attention to the sex and race of the people they recruit and promote, For example, Harvard Business School has just announced that they will go out of its way to include women in its case studies, which are used in business-school classrooms around the world. In other words, schools and businesses, in order to stay out of trouble, are taking the easy way out, quotas. (Kole, MacDonald.1997.1) Although some women and minorities are hired to fill quotas, the majority of them are needed to create a cultural diverse workplace. Cultural Diversity can have a positive effect and be profitable but only for some firms. A well considered strategy must accompany Cultural Diversity if profit is to be made. There are at least two reasons to expect a policy of diversity to yield profits. One difference is communication. Because many people find it easier to understand others of the same sex, or nationality, it helps to have employees from the same cultural background as your customers. It’s not only a matter of language, but understanding the customer’s needs, tastes and the earning of their trust is vital. The recruiting of people from a different cultural background can not only improve communication with outsiders, it may also bring fresh ideas to insiders (Kole, MacDonald. 1997.2). Businesses don’t only need cultural diversity in order to relate to customers, they need women and minorities in management. Smaller banks have traditionally selected their directors from among those who live and work in their communities. Their reasoning is to hire people who cannot only tell the banks what the people want, but also spread the word about their products. However, many banks surveyed by the Business Times have local natives on their boards, few women are represented and almost no minorities can be found-even in areas where there is a large minority population (Kole,MacDonald.1997.2). Many bank CEO’s feel that the lack of minority and female representation needs to be corrected (Cochran.1997). â€Å"Jack Anderson, chairman and Chief Executive of Johnstown-based BT Financial Corp.- the holding company for Laurel Bank, and Johnstown Bank Trust Co. states â€Å"Any right-thinking person understands the need for diversity,† he said â€Å"I think it i s something we need to work toward.†(Neiser.1997.1)† Anderson also recognizes that there hasn’t been a large pool of candidates to choose from.

Adam Capital Management

Adams Capital Management: Fund IV Joel Adams, founder and general partner of Adams Capital Management (ACM), a $700 million early-stage venture capital firm investing in the information technology, networking infrastructure, and semiconductor industries, glanced up as his fellow general partners trooped into his office on a brisk December morning in 2005 for their annual retrospective and planning meeting. The main topic on the agenda was a new one, ?would 2006 be the right time to launch their fourth fund?Since late 2000, ACM had been deploying its $420 million third fund, using its â€Å"markets first† strategy, an approach that identified and sought to take advantage of discontinuities within the three industry segments it targeted. Having invested in a company exploiting such a change, the general partners then guided the investment through a five-point structured navigation system. In November 2005, ACM Ill sold a portfolio company and made its first distribution to its l imited partners (Lips).The fund's portfolio also had 18 other operating companies that were showing steady growth, ND two new investments were in the due diligence phase and preparing for final negotiations. â€Å"The question as I see it,† said Adams to his partners, â€Å"is whether we need to exit more companies and generate additional distributions to our Lips before we start raising ACM Since Scam's first fund had closed in 1997, the investment environment had gone from robust to hysterical to deflated and now, finally, to what appeared to be a modest recovery. Likewise, Scam's performance had been whipped about.Fund I was almost top-quartile, Fund II could return capital with a few breaks, ND Fund Ill, a 2000 vintage fund was â€Å"too new to tell, â€Å"Adams noted (see Exhibit 1 for performance data). The firm had adopted its strategy in part to differentiate itself for potential Lips. But the partners also believed that the pure opportunistic approach of many vent ure firms?where each general partner was often given wide leeway in determining which, and how many, markets and business models to invest in?could cause the firm to lose sight of the portfolio as a whole.Without a â€Å"markets first† strategy, through which the entire firm agreed upon the markets of interest before engendering individual companies, the partners felt that firms would invest more on the basis of the fashion of the moment than on business fundamentals or market analysis. In Fund Ill, ACM had taken more significant ownership positions than in the past?typically 35% or more?led every deal, and held a seat on every board. In 85% of the fund's investments, it was the first institutional money in the company.Adams believed that this was the only way to respond to the sharply reduced volatility of the venture capital market: â€Å"build a collection of really good companies and own enough f them to matter. † Associate Ann Lemon wrote the original version of t his case, â€Å"Adams Capital Management: March 2002,† HOBS Case No. 803-143 which is being replaced by this version prepared by Professor Field Harmony and Senior Research Associate Ann Lemon. HOBS cases are developed solely as the basis for class discussion.Cases are not intended to serve as endorsements, sources of primary data, or illustrations of effective or ineffective management. Copyright 2006 President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call -800-545-7685, write Harvard Business School Publishing, Boston, MA 02163, or go to http://www. Hobs. Harvard. Due. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any meaner?electronic, mechanical, photocopying, recording, or otherwise?without the permission of Harvard Business School.This document is authorized for use only in FINDINGS Alternative Asset Classes – SSL/2013 by Jas on Zen at University of New South Wales from March 2013 to September 2013. 806-077 ACM knew this strategy was not without its risks. Fund Oil's portfolio contained some rinsing companies, but, Adams said, â€Å"When you own a significant chunk of the company and it doesn't do well, that hurts the fund. † Going to market with a good small early fund, a struggling second fund and a yet unproven third fund might not be easy. â€Å"The Lips may want to know why we don't go back to taking smaller positions in more companies,† he noted. L have to be able to give them an answer. † Venture Investing in 2005 The first half of the 21st century had truly witnessed the Dickens best and worst of times. The final years of the sass had seen an unprecedented run-up in venture activity. Everything had increased?the amounts of capital raised, the management fees paid, the amounts invested, the prices that companies could command, the exit valuations received, and the speed with wh ich investments became liquid. As the century changed, so did the venture environment.The NASDAQ reached its peak in March 2000 and by 2001, the party had come to a grinding halt. After a decade marked by continuously rising amounts of capital flowing into venture funds, 2001 raised half of sass's record of $71. 7, and 2002 and 2003 raised barely 10% ($7 billion and $8 billion, respectively). L (See Exhibit 2 for fundraising data). By 2005, the numbers of deals, their price levels, and the size of the rounds had all fallen considerably from their peaks in 1999 and 2000. Since the precipitous drop, though, they had steadied (see Exhibit 3 for trends).The initial decline, termed a â€Å"train wreck,† reflected the fact that almost three years of record-breaking venture activity had funded too many companies chasing too few customers in almost all technology customers had cut their capital expense budgets, and on top of that, were suffering from a backlog of earlier technology i nvestments that had not yet been fully implemented. Spending on technology fell off sharply. As a result, portfolio companies significantly underperformed expectations, often forcing their investors to resort to inside rounds for continued financing because all firms were trying to fix their own troubled portfolios.Thereafter, activity had resumed albeit at a lower level. A further complication for the venture capital (PVC) industry was the longer path to liquidity. The Initial Public Offering (PIP) market dried up in 2001, only to revive?at least to a degree–in 2004 and 2005. The number of venture-backed mergers and acquisitions had stayed reasonably steady in the vicinity of 300 transactions from 000 through 2004 and even looked likely to continue for 2005 based on first-half data, the number of Ipso had plummeted from 264 in 2000 to 41 in 2001 and a mere 24 and 29 in 2002 and 2003.Although this number had tripled in 2004, to 93, sass's first half saw an uninspiring 20 Ipso , a number nonetheless close to the total for all of 2002. 2 By mid-2005, though, glimmers of recovery pierced the gloom. PVC fund- raising for 2004, at $1 5 billion, equaled the sum of the previous two years' total. Firms had triages the worst of their problem companies, by selling them for the intellectual repertory, merging them with other weak companies, or shutting them down.Technological evolution provided market opportunities for young companies and some older ones, weaned off the easy-money of the bubble, had brought their products to market and were profitable. Disclosed prices for mergers and acquisitions rose to the highest average since 1 Abstracted from data from Private Equity Analyst and Asset Alternatives. 2 Thomson Financial/Venture Economics, Venture Backed M&A Volume Holds Steady,† www. Nava. Org, accessed December 8, 2005. 2 IQ 2002. 3 The door to the PIP market, blown off its hinges in 2004 by PVC-backedGoogle's debut, reopened, with new companies pricing their offerings almost every week. The pace and valuations of deals had risen, and with it, investor confidence. â€Å"It's not that PVC has become hard,† said one veteran venture capitalist. â€Å"It's Just gotten back to normal. † Adams Capital Management Joel Adams, founder of ACM, grew up in Phelps, New York, a small town between Rochester and Syracuse. â€Å"My dad owned a dairy farm,† recalled Adams, â€Å"and his and doing chores. † Adams was 15 when his mother passed away, leaving his father with no choice but to delegate most of his wife's responsibilities to the three children.Looking back on those days, Adams said: â€Å"At the time the confluence of events was a hell of a wake-up call for a teenager, but I learned invaluable lessons about money and time management. † After graduating from the University of Buffalo in 1979, Adams Joined nuclear submarine manufacturer General Dynamics, where he became a test engineer, the lead engineer re sponsible for starting and testing a sub's nuclear reactor and representing General Dynamics during the Navy's sea trials of the new boats. In 1984 he moved to Pittsburgh to attend the business school at Carnegie Mellon University (UCM), lured by its strong program in entrepreneurship.During Adams' second year at UCM, he worked part-time for Foisting Capital, a small PVC firm that invested on behalf of the Foster's, a wealthy Pittsburgh family. Adams Joined Foisting after graduation as a Junior partner, with the firm's new $14 million fund. Shortly thereafter, the firm and Adams became involved with PAP/Foisting l, a Joint venture formed with Patricia ; Co. To manage the $40 million fund that the state of Pennsylvania wanted to invest in PVC. In 1994 after nine years with Foisting, Adams, SCOFF Andrea Joseph, longtime secretary Lynn Patterson, and former partner Bill Hulled armed Adams Capital Management, Inc. O handle the Foisting portion of the $60 million PAP/Foisting II, raised in 1992. In 1997, ACM raised its first fund, the $55 million ACM l, with its markets-first investment strategy. Discontinuity-based investing Ever since he had Joined Foisting, Adams had been dissatisfied with what he considered a lack of focus and discipline in the firm's investment strategy. â€Å"Here's a nuclear engineer, walking into this industry, with a very small fund in Pittsburgh whose strategy was to be diversified by stage, by industry, and by geography,† Adams recalled. After about a year, I said, ‘This isn't a strategy at all? you could do anything. He was especially nonplussed by the method of developing deal flow. Rather than learning about markets and then targeting specific deals within them, he said, â€Å"The approach at Foisting was to open the mail in the morning† to see what business plans had arrived. Two of Adams' experiences at Foisting acquainted him with the power of targeted investing. The first was his involvement with Sharper Corpor ation, a developer of software applications for engineering product data management. â€Å"l understood the issues of engineering data management from my says at General Dynamics,† Adams said. L was a much smarter investor looking at an industry that I knew. † Not only was he a better investment manager and board member, he realized, 3 Ibid. 3 but he was also a better negotiator. â€Å"Entrepreneurs are passionate and biased about their businesses,† he said. â€Å"If the first time I hear about a market is from the entrepreneur, I'm at a big disadvantage. † His second revelation was even more powerful. Seeking a computer in 1987, Adams happened to learn about a mail-order operation in Texas called PC's Limited that custom-built personal computers and undercut retail prices.After speaking with the company's CEO, Adams invested $750,000 in the future Dell Computer's first outside venture round. Had the firm held this position, it would have been worth $382 m illion as of the end of September 2005. Adams realized that Dell had created such an explosion of value by exploiting a discontinuity ? a dramatic and sudden change in a large and established market. In this instance, the discontinuity involved distribution. The rise of direct distribution surprised the large personal computer manufacturers, which had highly entrenched outworks of retail dealers.These networks, Adams noted, â€Å"couldn't be unwound overnight. † Dell could build a multi-billion dollar business from scratch because his large and sleepy competitors could not respond to this distribution discontinuity in time. As ACM expanded, Adams resolved that any new partners would be engineers, and thus bring their technical training to bear in thorough examinations of a few promising markets (see Exhibit 4 for partner biographies). Scam's strategy evolved to focus on investments in markets that the partners already knew well and had already identified as attractive.A few i nitial prerequisites had developed over time. The first was that the companies in which ACM invested would sell to businesses, not consumers, and their value propositions would be driven by return on investment (ROI). â€Å"That's ROI for the customers, not us,† said Adams. â€Å"Our first question is, ‘If somebody is going to buy this company's product, what does the Chief Financial Officer's recommendation look like? † The second criterion was that the business was fragmentation applied technology,' or one of the first companies to use a specific technology for a specific application.Given the partners' engineering backgrounds, the firm focused on the information technology (IT) and telecommunication/ semiconductor industries, areas that were, in their view, experiencing significant discontinuities. The most important criterion was that, as in the case of Dell, Scam's portfolio companies would exploit discontinuities in existing markets, shifts that would creat e opportunities for start-up companies to become market leaders. In the IT industry, the partners anticipated that the need to create virtual enterprises on a global scale would force companies to look for highly adaptable systems.The telecommunications industry, faced with global expansion in bandwidth requirements for data, seemed to be faced with an entire rethinking of the existing technology and infrastructure, while reaching the limits of current silicon technology appeared likely to revolutionize the semiconductor industry. Within these areas, Scam's partners sought to identify four primary causes of discontinuities (see Exhibit 5 for more on discontinuities): 1 . Standards. Despite the emergence of a technology technologies in an attempt to preserve their captive customer base.Even as customers demented the standard, the existing manufacturers perceived it as a threat to their oligopolies market positions, and were reluctant to adopt it. One such example was FORE Systems, wh ich built communications devices that conformed to the ATM (asynchronous transfer mode) standard for communications in wide-area networks. The big players at the time, AT&T/Lucent and Northern Telecoms, each had proprietary protocols for those communications. These manufacturers clearly had the technical prowess and market muscle to 4 exploit ATM as well, but they were slow to do so for fear of cannibalizing their own racket shares.In April 1999, FORE was acquired by GEE Pl for $4. 5 billion. 2. Regulation. Unexpected regulatory changes could force market players to adapt quickly to a new market reality. An example of such a dislocation had occurred in the U. S. Cellular market where a host of new opportunities and networks had emerged after the government's creation of the PC'S spectrum. From a technology point of view, the new spectrum provided a chance for GSM, the cheaper and more easily-deployed base station technology popular in the rest of the world, to gain ground on the unw ieldy proprietary technology dominant in the United States.GSM equipment manufacturers and the upstart carriers who provided their services used their agility in the new regulatory environment to challenge the giants. 3. Technology. A technology-based discontinuity could take two forms. In one, it could appear as a whiz-bang package that took big competitors months or years to duplicate, such as Apple's Macintosh operating system. Alternatively, it could involve the convergence of technologies that had hitherto been separate, requiring innovation to allow these once-disparate systems to interact.An example here was the rise of corporate remote access, which forced companies to buy technology that would connect the public carrier telephone networks to the corporations' internal local area networks. 4. Distribution. Dell Computer in the earlier example provided the ultimate example of a distribution-based discontinuity?the rise of mail-order completely surprised existing personal comp uter manufacturers, to the great enrichment of Dell and its shareholders. This top-down approach to identifying markets was crucial in helping ACM achieve consensus about and control over where its partners would invest.Adams firmly believed, â€Å"Market due diligence is the only due diligence you can do independent of a transaction. If you present the partners with the industry and market dynamics ahead of time, then we can all talk about each other's prospective investment. † Scam's approach to identifying discontinuities included its Discontinuity Roundtable, a group of advisors that met periodically with the ACM partners to identify and discuss market discontinuities that could lead to fruitful investment theses. The 20-person Roundtable comprised industry experts and observers who attended meetings depending on the topic at hand.Among their number had been Clayton Christensen of the Harvard Business School known for his research on how innovation affected markets; Georg e Symmetry, inveterate entrepreneur and founder and backer of over 200 companies; Attic Razz, former CEO of MAD, the chip-maker that competed against Intel; and Mike Maples, former COT of Microsoft. The process required partners to write discontinuity white papers that advanced the investment thesis and to present them to a Roundtable of appropriate experts drawn from the pool.The group would discuss the merits of the thesis under consideration, usually greening to pursue two or three of the eight to ten papers presented in a meeting. The meetings would also identify other avenues for future exploration. Once an investment thesis was thoroughly vetted by the Discontinuities Roundtable, the ACM partners would systematically search for deals in that domain. Sometimes this took the form of identifying pockets of excellence in the appropriate technology and supporting entrepreneurs in forming a company.In other cases, it was a matter of identifying and sorting through several existing p otential investments. This process eve the partners deep knowledge of these companies' opportunities and therefore made ACM more attractive as an investment partner. 5 Structured Navigation In addition to a systematic approach for identifying markets, ACM also developed a system for managing its investments, called â€Å"structured navigation. † The system was born out of the observation that early-stage technology companies shared many of the same benchmarks and needed many of the same elements to succeed.Jerry Sullivan, who had Joined the firm from MAC, Tektronix and Phillips, explained: Our investments typically have high development costs coupled with the direct sales Orca characteristic of companies at these stages. The majority of our investments? 90%?are software-based, so resource planning and allocations are well understood by all of our general partners. We feel that our structured navigation strategy applies to all companies within the model. Aspects of the structu red navigation included : 1 . Round out the management team.Like most other PVC firms, ACM was deeply involved in helping its entrepreneurs complete their management teams. â€Å"Almost 85% of the management team without capital,† Martin Neat, a former executive vice president with IBM and now ACM general partner, said. People are going to Join a company that has some capital behind it, so we fundamentally believe that if you've got a great opportunity that's well-funded, you're going to attract a lot of talent. † ACM devoted significant resources to the creation of its Services Group, which helped its portfolio companies in this area. . Obtain a corporate partner or endorsement. The notion that an early stage company, hoping to exploit a sea change in a large existing market, could forge a partnership (an endorsement, a distribution deal, or an equity investment) with one of the very players from whom it hoped to steal market share mimed entirely contradictory. But the ACM partners believed that this should almost always be possible. From Scam's perspective, forging these relationships early would often create other exit opportunities. . Gain early exposure to industry and investment banking analysts. Industry analysts such as Garner, Gaga, and Forrester often created the first wave of market interest in a new technology. This group's validation could speed the acceptance or application of a new technology. While industry analysts could help create a market for the technology, analysts at investment banking firms could create an exit for the company, and ACM tried to make sure they met the portfolio companies early. First of all, the good analysts really do understand the businesses of these little companies,† N. George Sugars, a general partner in the Silicon Valley office, said. â€Å"But the second thing is, [bankers are] in the fee business, and they need to put marriages together. [Introducing the two parties early] is a tactic that w ill set you up for deals later on. † 4. Expand the product line. A first-generation applied technology company would be confronted by sigh initial costs of development and sales.In such a case, Bill Freeze, a general partner in Scam's Boston office, observed, â€Å"The marginal cost of the development for subsequent products or the next sale is much lower. † Once a new technology product had been developed and a base of customers secured, the costs of leveraging that technology into another, similar product and selling it into a base of existing accounts was comparatively small. But â€Å"sometimes the entrepreneur hasn't thought that out yet,† he noted. Our approach ensures that the companies are adequately focused on this value creation opportunity. 5. Implement best practices. Scam's partners felt that their entrepreneurs should focus on developing products and selling them to customers, not on structuring stock option packages or compensation 6 plans. After w orking with dozens of companies with similar structures, the partners felt that they should be able to provide boilerplate versions of plans that worked. ACM used these five â€Å"steps† (in no particular order) to manage its investments, complete.The process, the partners felt, not only made their investments more successful, but also provided the partners in four offices across the U. S. With a molly understood internal barometer of a company's progress (see Exhibit 6 for offices). â€Å"If ten months into a deal you can't attract talented people, corporations don't care, and you can't get the bankers interested?you're learning something,† observed Sullivan. â€Å"And maybe you ought to get out. † Defending the Strategy Was it really necessary to formulate such a rigorous strategy for investing in early- stage businesses?Adams admitted that, to a certain extent, the strategy was motivated by the practical necessities faced by a small firm based in Pittsburgh r aising a $55 million fund in 1997. We had to get ourselves above the muck, and the way you do that is with a well-defined, market-centric strategy that you execute in a disciplined manner,† he said. It had also given a small partnership, scattered among offices in Pittsburgh, Philadelphia (later Boston), and Austin, Texas (Silicon Valley was added in 1999) a common language and approach that facilitated communication.Adams balked at the conventional wisdom about PVC and venture capitalists?namely, that PVC was a personality-driven business, and that successful venture capitalists were all genius dealers whose vision turned everything they touched into gold. L just don't buy the ‘rock star' model that many venture firms promote,† Adams said. Instead, he wanted to build a venture firm in the same way that most businesses were built ? with a structure in which any of its employees were, in principle, replaceable. â€Å"We wanted to develop a system where you could th row anybody out of here and the thing will still cook along,† he said. We wanted to build a system for executing this business. We're engineers, we think that way. We're not rock stars. We have a system for finding areas that are of interest, getting deals, and making them valuable. That's what we do. † The Funds Since 1997, the partners felt that strict adherence to strategy, combined with the systematic portfolio management that navigation provided, had served the firm well. They had grown from a $55 million fund to managing $700 million and from one office in Pittsburgh to four in areas in which 68% of all PVC activity in the U.S. Occurred. Each fund had been invested according to plan, although the results had not been entirely anticipated. ACM I had invested in 15 companies for a total cost basis of $55 million. Information technology accounted for 49% of the portfolio; electrification for 30%, medical devices for 11% and networking infrastructure for 10%. As of Sep tember 2005, the fund was fully invested and had exited all but one company, distributing stock valued at $122. 7 million for a net IR to its Lips of 46% Oust below the upper quartile).The general partners hoped to achieve at least $140 million in total proceeds by the end of Fund Xi's contractual life. With its smaller size, ACM I had aimed for percentage ownership in the low teens. The firm had held a board seat in 67% of its original 15 companies, and its positions could get diluted if it as 7 unable to participate fully in subsequent rounds. However, as Adams said, â€Å"This was the home-run era of early stage PVC investing?significant returns were almost the norm. We had our share, with three acquisitions and three Ipso. That was a good fund. Based on the early success of Fund I and the frenzy around PVC, ACM had closed the $1 50 million ACM II at the end of 1999, followed quickly by the $420 million ACM Ill at the end of 2000 (see Exhibit 7 for fund statistics). In the over- heated environment of 1999 and early 2000, though, the partners found that the game had changed. At first it seemed that home-runs were still possible,† said Adams: †¦ Putting money to work was paramount. Unfortunately, this meant that we had less time to investigate new markets and we therefore had less diversification in the portfolio.If the big companies were looking for drop-add-multiplex-switches, that was what we backed as all of them were being bought because every big company needed its own drop-add-multiplicities. We ended up with a lot of similar companies. Our goal was to own around 20%, and we usually had enough money to keep our position, which was not always the best thing in retrospect. Fund II had stayed the strategic course. Of the 14 companies in the portfolio, three had been acquired, five written off, and six were still active and showing strong revenue growth.The firm had moved away from investing in medical devices though. Information technology made up 45% of the portfolio, semiconductors 38%, and telecommunications 17%. Although Fund Sis's value currently stood at a 40% discount to cost, Adams hoped that, with a few breaks, it could return the Lips' capital. Fund Oil's approach of taking larger position had been adopted in response to the changes that the partners noted in the market in particular, a reduction in volatility. As Adams explained,: The days of the consistent home-runs are gone.Reduced volatility meaner that we need to build portfolios that are more balanced and consistent in their performance. We're not looking for xx returns, although we certainly wouldn't refuse them. I Just don't think that's the norm anymore. Instead, we're looking to build a solid portfolio that yields xx to xx returns based on operating success?positive cash flow and net income. We look to own enough of each company that every deal is an impact deal, both for us and for the company. And here, because outcome volatility has fallen so substa ntially, we need to have diversity among our companies.You might say that beta has fallen so we must increase alpha. We had to assemble an interesting collection of really good companies that addressed significant discontinuities in the market and own enough of them to matter. We've done that. We've also added value to them through the ACM Services Group, which provides corporate partnering, recruitment and financial management guidance. By September 30, 2005, Fund Ill had called 74% of its committed capital. Information technology accounted for 59% of

Effects of Sex in the Media on Adolescents essays

Effects of Sex in the Media on Adolescents essays Everywhere we go the media is always around us. Through television, radio, internet, movies, video games; we cannot escape media's influence. The media is full of sexual images and themes that can be unhealthy for a growing mind to view. The prevalence of overtly sexual content in the media influences teenagers to be promiscuous. The abundance of sexual material in the media is influencing teenagers to make unhealthy choices about sex. Because sexual themes can be found in all forms of media, it is difficult for teenagers not to be subjected to it. Richard Jackson and Christopher Barlett state, "[aAdolescents] . . . learn about sex from . . . media outlets such as movies, television, magazines, song lyrics, videos and the internet" (1). Allyssa Harris adds, "[The] media are among the primary educators for adolescents about sexuality and sexual behavior" (235). When teenagers are exposed to sexual themes in popular media, it alters their way of thinking in regards to sex. David Myers declares, "[tT]he more sexual content adolescents view, the more likely they are to perceive their peers as sexually active, to develop sexually permissive attitudes, and to experience early intercourse" (361). Frequent exposure to sexual media will affect how teenagers develop their self-identity (Harris 236). When teenagers turn on a media format to be entertained, they are being exposed to sexually charged content that will have harmful consequences on their The large amount of sexual situations shown on television programs influences teenagers to be promiscuous. Most of the popular prime-time television shows are full of sexual acts and behaviors. Myers states that if you watch prime-time television for one hour you will see "15 sexual acts, words and innuendos" (361). Harris adds, "[tThat] up to 70% of all television shows have sexual content, 68% talk about sex and 35% include sexual b...

Gram Definition and Examples in Science

Gram Definition and Examples in Science A gram is a unit of mass in the metric system defined as one thousandth (1 x 10-3) of a kilogram. Originally, the gram was defined as a unit equal to the mass of one cubic centimeter of pure water at 4 °C (the temperature at which water has maximum density). The definition was changed when the base units for the International System of Units (SI) were redefined by the 26th General Conference of Weights and Measures. The change went into effect May 20, 2019. The symbol for the gram is the lowercase letter g. Incorrect symbols include gr (the symbol for grains), Gm (the symbol for the gigameter), and gm (easily confused with the symbol for the gram-meter, gâ‹…m). Gram may also be spelled gramme. Key Takeaways: Gram Definition The gram is a unit of mass.One gram is one thousandth the mass of one kilogram. The previous definition of the gram was the absolute weight of a 1-centimeter cube of pure water at 4  °C.The symbol for the gram is g.The gram is a small unit of mass. It is approximately the mass of one small paper clip. Examples of Gram Weight Because a gram is a small unit of weight, its size may be difficult for many people to visualize. Here are common examples of objects that have about one gram of mass: A small paperclipA thumbtackA piece of chewing gumOne US billA pen capOne cubic centimeter (milliliter) of waterA quarter teaspoon of sugar Useful Gram Conversion Factors Grams may be converted into several other units of measurement. Some common conversion factors include: 1 gram (1 g) 5 carats (5 ct)1 gram (1 g) 10-3 kilograms (10-3 kg)1 gram (1 g) 15.43236 grains (gr)1 troy ounce (ozt) 31.1035 g1 gram 8.98755179Ãâ€"1013 joules (J)500 grams 1 Jin (Chinese unit of measurement)1 avoirdupois ounce (oz) 28.3495 grams (g) Uses of the Gram The gram is widely used in science, particular chemistry and physics. Outside of the United States, the gram is used to measure non-liquid cooking ingredients and produce (e.g., flour, sugar, bananas). Relative composition for food nutrition labels is stated per 100 grams of product, even within the United States. History of the Gram In 1795, the French National Convention replaced the gravet with the gramme in the metric system. While the term changed, the definition remained that of the weight of one cubic centimeter of water. The word gramme came from the Latin word gramma which in turn derived from the Greek word grmma. The grmma was a unit used in Late Antiquity (around the 4th century AD) equal to two oboli (Greek coins) or one twenty-fourth part of an ounce. The gram was a fundamental unit of mass in the centimeter-gram-second (CGS) system in the 19th century. The meter-kilogram-second (MKS) system of units was proposed in 1901, but the CGS and MKS systems co-exists throughout the early to mid 20th century. The MKS system became the system of base units in 1960. However, the gram was still defined based on the mass of water. In 2019, the gram was defined based on the kilogram. The kilogram has a mass almost exactly equal to that of one liter of water, but its definition has been refined, too. In 2018, Plancks constant was defined. This allowed definition of the kilogram in terms of the second and the meter. Plancks constant h  is defined to be  6.62607015Ãâ€"10−34  and equal to one kilogram meter squared per second (kgâ‹…m2â‹…s−1). Even so, standard masses for the kilogram still exist and are used as secondary standards for kilogram and gram weights. For all practical purposes, a liter of pure water has a mas s of one kilogram and a milliliter of pure water has the mass of one gram. Sources Materese, Robin (November 16, 2018). Historic Vote Ties Kilogram and Other Units to Natural Constants. NIST.  National Institute of Standards and Technology (October 2011). Butcher, Tina; Cook, Steve; Crown, Linda et al. eds. Appendix C – General Tables of Units of Measurement Specifications, Tolerances, and Other Technical Requirements for Weighing and Measuring Devices. NIST Handbook. 44 (2012 ed.). Washington, D.C.: U.S. Department of Commerce, Technology Administration, National Institute of Standards and Technology. ISSN 0271-4027.

Memory Inconsistencies essays

Memory Inconsistencies essays Memory Inconsistencies 2 Elizabeth Loftus theory of reconstructive memory proposes that when we try and remember an event, we will piece it bit by bit from our memories to reconstruct that event. However, gaps in our memory can distort our recollection of events, and our tendency is to fill in those gaps with our own plausible information, thus creating memories that never really occurred. These ideas imply the high malleability of our own memories, and the likelihood of not being able to accurately discriminate from what is real and what is imagined. With that in mind, does a question influence its answer? Do words enhance or distract our different sensory memories? What do we really remember about certain incidences that occur in our everyday lives? Moreover, does confidence correlate with accuracy? These are a few questions that are highly applicable in the PBS Frontline documentary, What Jennifer Saw. In the documentary, we learn that Jennifer Thompson was attacked and raped by an armed black man, and somehow managed to escape and call for help. During the attack however, Jennifer realized that if she did escape, her only way of identifying her assailant would be by closely remembering his facial features and speech. However, due to the circumstances Jennifer was only able to capture certain characteristics of the assailant and his tone of voice. Would this information be enough to pinpoint her attacker? In Jennifers case it was not. Jennifer was responsible for sending Ronald Cotton, an innocent man, to prison for 11 years. Inevitably, Jennifer wanted to identify her assailant to give herself closure, furthermore, her decisions were based on inconclusive evidence and suggestions made by the police in questioning. This demonstrates the high malleability of our memories because Jennifer was not confident in identifying her attacker. Even with idea...

Managing Financial Resources Master Research Paper

Managing Financial Resources Master - Research Paper Example Must Have Furnisher's current financial information (charts) can be found in Annex A of this report. All other charts and reports related to the projects to be examined and the company in question for the merger can also be found in Annex A. This report begins by comparing the profit/loss statement for the year ending 30/09/03. What follows is a bar graph that compares 2002 profit/loss and 2003 profit/loss. You may find the results quite startling. With sales and gross profit being higher in 2003 one would expect the operating profit to higher, but its not: The blue bars represent 2002's data and the reddish bars represent 2003's data. Sales were way up in 2003 as were cost of sales and gross profit. There is a considerable gap between 2002 and 2003 in sales and expenses. When you get down to the number that really counts, the operating profit, 2002 was a better year. 2003's data shows a 311% increase in sales, 466% more spent in cost of sales, etcBut, when you look at the final bars (operating profit) 2002 reported 674000 profit and 2003 reported 620000 profit. The company actually made less in 2003 (-54000) and spent considerably more in 2003. What hurt in 2003's numbers were the expenses such as bad debts, depreciation, selling expenses, and interest owed. It appears that the new p... The Simplified Balance Sheet (See Annex A) for Must Have Furnishers LTD tells more of the story. There are big number differences as seen in the prior graph only this time 2003 came out with the bigger numbers. Why Because the earlier chart gave a snapshot of one part of the business and the chart below gives a snapshot of the business as a whole and takes a look at such things as stock ownership to raise capital and expenditures for machines and equipment. The bars on the left represent 2002 data while the ones on the right represent 2003 data. The ratio of assets is .358911:1 and the ration of liabilities is .0625:1. The next graph shows the company's net worth (net assets minus long term liabilities): Column 1 is the company's 2002 net worth and column 2 is the company's 2003 net worth. Why is the company worth more in 2003 In 2002 the company had 60 stock holders and that number increased to 476 in 2003. One way of raising money (capital) to fund projects or growth is to sell more stock. This could work well or backfire. Selling more stock could make the stock price fall. The stock owners before the new sale would lose because their stock lost value and their percentage of ownership in the company dropped as well. This company also took on more debtors (1000). That raised the current assets for 2003. The net worth for the company increased from 1858 in 2002 to 2534 in 2003. That equates to roughly a 36% increase in net worth for the company. If the company could reduce its long term liabilities the profit margin would be greater. Also, the company needs to take a good look at the expenses 2002 vs. 2003. Lowering those expenses would raise the operating

Globalization Essay Example | Topics and Well Written Essays - 1250 words - 13

Globalization - Essay Example The rest of the paper will discuss the impacts of globalization on democracy as well as its cons and pros. Democracy is very fundamental in everyday governance because it permits for citizen’s participation in governance. Many nations under monarchies have little space for the participation of their citizens and those who oppose are assassinated (Dalpino 4). Some are also imprisoned for life, making it difficult for citizens to question the government. For instance, African nations such as Egypt, Tunisia, and Libya were under the dictatorship of their leaders and had a very little space of contravening the government’s decision. This happened because the nation was not democratic enough to allow for citizen participation. However, some of these nations managed to score high in terms of economic developments even under authoritarian leadership. This is an indication that democracy plays a fundamental role for inclusive governance. The rebellion witnessed in these nations, evidence that the citizens wanted space for expression, and they were pressed to the wall. Many studies indicate that democracy is the best government because it makes the majority carry the day while the minority is having their say (Bartelson 8). For instance, it guarantees an election where the people participate in selecting their representatives and those they have confident as opposed to people assuming the office such as presidency. Through the electoral process, the majority will have their way and the minorities who do not also win will have their say. Democratic governance is inclusive and considers the interests of all at different levels (Scholte 27). Many democratic governments such as the US are assumed to function well by protecting the right of human beings, as well as the minority. This is so because they follow the rule of law that defines them as opposed to monarchies and dictatorial governments (Dalpino 7). Autocratic governments such as Swazi and

Critically analyse the role of Perception in Consumer Behaviour Essay

Critically analyse the role of Perception in Consumer Behaviour - Essay Example This particular aspect can further be observed as a multidimensional concept which in itself is quite challenging to be defined and identified in the real life context being influenced by various other attributes such as cultural beliefs, social diversity and lifestyle needs (Desmond, 2003). The paper intends to discuss regarding the role of perception in consumer behaviour with particular focus on the UK based brands. Moreover, this paper also discusses regarding the exposure, attention, interpretation and sensation of consumers while making purchasing decisions towards different products and services. Perceptual Process In its simple meaning, perception can be associated with gathering of information through our senses i.e. through seeing, hearing and tasting among others. In other words, perception can be related with a process by which humans become familiar and aware of a particular event and interprets a stimulus. It can further be argued that not all the human beings are alike in all contexts. There are some dissimilarities persisting in the perceptions of humans that further distinguish an individual from another. Contextually, an individual’s perceptions regarding products and/or services can differ within a group in terms of features, prices, qualities and brand names among others. It has often been observed that among these large groups of individuals, different opinions can persist about a particular product and/or service which are offered by the marketers (Ziethaml, 1988). It has been further observed in this context that an individual frequently desires to obtain information regarding products and/or services through their five senses, i.e. smell, taste, touch or texture, sound and sight (Solomon, 2012). As these attributes are believed to be the fundamental aspects of defining customer perceptions, modern day marketers often tend to utilise these senses in order to identify the expectations of the potential customers and channelize their buying behaviour towards the determined goals (Arnould & et. al., 2005). It is in this context that contemporary organisations always attempt to ensure proper evaluation of consumers’ perceptions in order to effectively facilitate their target markets with appropriate offerings and deliver the products and/or services which are fit for the potential customers’ expectations (Creusen & Schoormans, 2005; Vigneron & Johnson, 1999). To be illustrated, Tesco PLC and British Airways are often characterised as two of the leading brands that have always considered and implemented various buying behaviour theories and concepts to recognise customers’ perceptions accurately, while introducing new products and services in its target markets. In terms of influencing consumer buying behaviour, British Airways implements unique promotional strategies which directly impacts upon attracting the potential consumers to adopt the company’s services in an efficient manner (Te sco PLC, 2013; British Airways, 2010). Sensory Stimuli According to Krishna (2011) â€Å"sensory marketing is an application of the understanding of sensation and perception to the field of marketing —

Pilando Golf Resort Essay Example | Topics and Well Written Essays - 500 words

Pilando Golf Resort - Essay Example There are usually some bookings during lunch hours especially on weekends and during dinner hours. The hotel serves a range of dishes due to the diverse nature of the clientele. Besides serving food to guests and other recreational facilities, the hotel offers golf tournaments to its clientele. My experience at the facility as a volunteer exposed me to the various operations of business and the relations with guests at the facility. The experience at the resort exposed to various processes that relate to businesses. An important aspect of the business involved the development of a range of strategies including communication skills. Good communication skills are important in handling of the customers. Customers are different are usually relate to workers in different ways. In the hospitality industry, it is necessary for waiters to develop good communication skills in order to attract and retain the clients. Pilando Golf Resort has a very strong work ethic. Workers are usually motivat ed to provide their best services in order to attract and retain the clientele. The management also helps the workers to develop key skills that are necessary for proper handling of the guests. Usually, the management handles most of the issues that concern the welfare of the guests. The organizational structure of the resort involves a team of managers at the top, followed by supervisors, and finally the workers. The top-level management usually handles decision-making at the resort. Various departments coordinate to ensure the smooth running of the facility. Some of the departments include customer care department, finance department, planning department, and many others. Each department operates according to the mission and vision of the business.

Lisbon Treaty for the Working of the European Union (EU) Essay

Lisbon Treaty for the Working of the European Union (EU) - Essay Example This growth in the number of members is primarily attributed to reasons that vary from being conducive in nature, to security issues, while some scholars have even suggested standardised or digressive reasons for the rise in the number of member states of EU (McAllister, 2010). To enhance understanding, trust, and collaboration amongst the members, various treaties have been devised from time to time related to regional policies on economy and trade, immigration policies, social policies, defence polices, and home and justice affairs. Some such treaties were Treaty of Rome (1957), Treaty of Maastricht (1992), Treaties of Nice (2001), the treaty that tried establishing a European Constitution and failed in 2004, and lastly the Treaty of Lisbon in 2007 (made effective in 2009). The 2004 and 2007 treaties created a great deal of controversies, and many experts claimed that the last two treaties were aimed primarily at creating a collaborative European superpower. However, the supporters for these treaties contended that these were aiming at making way for a larger EU in the 21st  century (Church and Phinnemore, 2010). ... The critics point out the body’s lack of power within the arena of global or regional politics, and for this reason the body has been often labelled as ‘soft power’ (Fioramonti, and Lucarelli, 2008, 193-210). In the context of security issues, EU as a body is often perceived as being irresolute, ineffective, and inconsistent (ibid). Even though there is no doubt that a war between the any of the members of EU is unthinkable, the body’s response during an on-going war in the neighbourhood, in terms of ‘crisis management,’ has not been very effective, and the Union is still perceived as weak, in terms ‘unity’ amongst its members (Gilbert 2008, 641-658). In this context, to understand whether the Lisbon Treaty (LT) would really work towards creating a stronger union amongst the member states, it is necessary to examine the treaty from close quarters. The representatives from the 27 EU member states signed the Treaty of Lisbon on 18th December 2007, which modified the Treaty establishing the European Community (TEC) and the Treaty on European Union (TEU). There are seven Articles under the Treaty of Lisbon, where the modifications to TEC and TEU are listed under Articles 1 and 2 (Amendments to the Treaty on European Union and to the Treaty Establishing the European Community, 2007). Under Articles 3-7, we find that there are provisions for treaty duration, the process of ratification, and article renumbering (ibid). This is unlike the 2004 Treaty, which attempted to establish a European Constitution, and remained ineffective owing to negative referendum votes cast by Netherlands and France. The Lisbon Treaty however retrains itself from trying to replace any of the treaties

Pilando Golf Resort Essay Example | Topics and Well Written Essays - 500 words

Pilando Golf Resort - Essay Example There are usually some bookings during lunch hours especially on weekends and during dinner hours. The hotel serves a range of dishes due to the diverse nature of the clientele. Besides serving food to guests and other recreational facilities, the hotel offers golf tournaments to its clientele. My experience at the facility as a volunteer exposed me to the various operations of business and the relations with guests at the facility. The experience at the resort exposed to various processes that relate to businesses. An important aspect of the business involved the development of a range of strategies including communication skills. Good communication skills are important in handling of the customers. Customers are different are usually relate to workers in different ways. In the hospitality industry, it is necessary for waiters to develop good communication skills in order to attract and retain the clients. Pilando Golf Resort has a very strong work ethic. Workers are usually motivat ed to provide their best services in order to attract and retain the clientele. The management also helps the workers to develop key skills that are necessary for proper handling of the guests. Usually, the management handles most of the issues that concern the welfare of the guests. The organizational structure of the resort involves a team of managers at the top, followed by supervisors, and finally the workers. The top-level management usually handles decision-making at the resort. Various departments coordinate to ensure the smooth running of the facility. Some of the departments include customer care department, finance department, planning department, and many others. Each department operates according to the mission and vision of the business.

Customer Service Plan Essay Example | Topics and Well Written Essays - 1750 words

Customer Service Plan - Essay Example Internal Customers: Owner/CEO: He wants the event to be a success from all aspects and also wants maximum sponsorship deals. Employee Teams (Internal): Sponsorship team: They want to sign maximum fruitful sponsorship deals. Operations team: They want proper coordination between the designers, models, technical staff, auditorium authority, etc. Hospitality team: There motto is to take care of designers, models, guests, sponsors and to look after them in an coordinated manner along with the other two teams. Temporary staff: They might be present if need be, to help in any activity, the teams tell them to perform. External Customers: Designer: They want their designs to be showcased in the best possible manner; they would demand the best infrastructural support for the show. Sponsors: They would want high return from the sponsorship amount they have spent and would demand the broadest mileage for their Brand. Guests: Would want to be taken care of with respect and proper concern. Current innovations: Customer service can play a key role in any industry in today's day and age, especially when differentiation in product offering has almost become commoditised. It is only out of the box 'customer service' that can add value to your business. In the context of event management customer service garners an extra connotation of importance, as event management deals with people and their expectations of a superior event experience from the company. Innovative customer service starts from proper planning about all the resources and also predicting the moot points along with possible areas of failure and taking care of them beforehand along with having contingency supporting...The event will take place on 5th June 2009, at TAFE Sydney Institute, Ultimo. The night would commence with a cocktail party and live entertainment. More than 150 guests will be invited, amongst those will be guests connected with the fashion industry. The event is a unique opportunity for the young designers as well as for the sponsors to connect with the fashion industry and its insiders. Customer service can play a key role in any industry in today's day and age, especially when differentiation in product offering has almost become commoditised. It is only out of the box 'customer service' that can add value to your business. In the context of event management customer service garners an extra connotation of importance, as event management deals with people and their expectations of a superior event experience from the company. Innovative customer service starts from proper planning about all the resources and also predicting the moot points along with possible areas of failure and taking care of them beforehand along with having contingency supporting plans with adequate resources. Communication with the customer and logical assumption of the key necessities in terms of resources are key to its success. When all these come together in perfect synchronization, customers are satisfied and there are possibilities of retaining them or gaining more business opportunities arise.

Henry VIII Essay Example for Free

Henry VIII Essay 1. Did Henry VIII have the right to manage his marriages to his own advantage? In my opinion, I do not think so.   While it is understandable he needed a son to succeed him and to continue the Tudor name, he did not have the right manage his marriages for the sake of political expediency.   It is also revealed in studies made on the history of the Tudors is that Henry VIII was notoriously licentious.   His authority as king did not give him the right to change the rules. At the time, England was Catholic and it turned to Rome for moral guidance and when Henry did not get annulment, he changed policy and subordinated the church of England under him and his successors and this was all because he could not have a son.   Furthermore, he executed two of his wives and ironically, one of them, Anne Boleyn, produced his eventual successor, his daughter who would become Elizabeth I, one of England’s greatest monarchs. 2. Should a royal figure be held to a different moral code than his spouse and subjects? Why or why not? No.   Monarchs, regardless of their title, are still human.   Their title and privileges do not make them infallible.   They are also human and therefore prone to error.   They should not hide behind their authority to justify their wrongdoings as what most of them did in history.   They have to answer to someone and unfortunately, they cannot use God.   This is the reason why the philosophers of the Enlightenment eschewed the Divine Right theory when they saw it being abused. If monarchs believed they were ordained by God, how come their people hate them? If monarchs are considered beyond reproach, one needs to wonder why Louis XI was overthrown during the French Revolution or Charles I of England and Tsar Nicholas II of Russia were executed.   These examples demonstrate that the Divine Right is passà © and the reason why some monarchies cease to exist. Those that do exist are prudent enough to relinquish most of their power when they senses the changing times.

The Protection Of Marine Ecosystems Environmental Sciences Essay

The Protection Of Marine Ecosystems Environmental Sciences Essay Oceans cover approximately 71 % of Earths surface and comprise the greatest preponderance of its hydrosphere. While all the seas of the world share certain obvious characteristics, many have unique attributes. For example, shipping lanes and straits are used more intensively than other parts of the ocean for navigation, making accidents and spills there more likely; some areas of the sea are more ecologically fragile than others; some seas such as the Mediterranean and the Baltic, are semi-closed, inhibiting the exchange of their waters with those of the rest of the ocean and thus slowing the process of self-purification; and some parts of the ocean are utilized more intensively by humans than others, resulting in more pollution, both chronic and accidental. The worlds oceans are under stress from over-fishing, climate change, invasive species and marine pollution. United Nations Environmental Programme Ocean Atlas define pollution sources that exist through the world as leading to a state of silent collapse. The stresses are particularly acute in coastal areas. In addition to ocean dumping and spills, intensive shore development funnels oil and toxic pollutants into coastal waters. Nutrient run off from farm and yard fertilizers cause algae blooms which threaten coral reefs and sea grass beds. In this project, the various aspects related to the protection of marine ecosystems have been analyzed in detail. Also, the particular problems of the conservation of marine ecosystemand marine biodiversity and the threats with which they are confronted have been examined. Finally, the international regime for the protection of marine ecosystem has been discussed in detail with special reference to UNCLOS. Also, the international regime for the protection of marine ecosystem components has been discussed in brief. WHAT IS MARINE ECOSYSTEM? The problems of addressing the conservation of marine ecosystems and the maintenance of biodiversity in the oceans are qualitatively different from those of terrestrial systems. Because mankind is a terrestrial creature, there is, perhaps, inevitably a terrestrial bias in understanding of species and of ecosystem as well as the means which have been developed for their protection. This bias is reflected in the Convention on Biological Diversity itself.Article 2 of the Convention defines biological diversity to include variability amongst living organisms from all sources includingà ¢Ã¢â€š ¬Ã‚ ¦marine and other aquatic ecosystems and the ecological complexes of which they are a part, however it goes on to specify that this includes diversity within the species, between species and of ecosystems. Nowhere else in the Convention is specific reference made to the protection of marine biodiversity although Article 22(2) does specifically provide that contracting States shall implement the Convention with respect to the marine environment consistently with the rights and obligations of States under the law of the sea. In fact the whole approach of the Convention directed as it is to the biotechnology issues and, arguably a concept of national ownership of resources based on assumptions about endemic species bypasses some of the key issues of marine biodiversity conservation. Awareness of the importance of ecosystems or of ecosystem conservation and management is relatively new in international arena. Few international instruments rarely use this precise terminology. MARINE BIODIVERSITY: WHY IS IT IMPORTANT AND HOW IS IT THREATENED? The oceans cover 70% of the planet yet far less is known about the marine environment than the terrestrial; 80% of all the known species are terrestrial; only sixteen of the 6,691 species officially classified as endangered are marine and fourteen of these are mammals and turtles creatures which have some affinity with the terrestrial creatures. Because of the fluid nature of the marine environment scientists suggest that there has been less opportunity or need for speciation in marine organisms, as there has been in land organisms in which species and subspecies have developed as they have become separated from each other by physical forces. This does not mean however that, oceans are single amorphous system. Apart from the obvious variations in the oceans at different latitudes or depths, the existence of closed or semi-closed seas and of major currents, confluences and gyres in the open system means that there is a wide variety of different ecosystems in the marine environment. H owever, these bear little relation to the various legal jurisdictional zones established by customary international law and now to be found codified in the 1982 Law of the Sea Convention. As seen from the definition of biodiversity given in CBD, the common practice of terrestrial biologists of assessing biological diversity or richness in terms of number of species and subspecies in a particular ecosystem, especially number of those who are unique or endemic. However, as far as marine biodiversity is concerned speciation is low and endemism uncommon. In oceans there is far greater variety of organisms amongst the higher taxonomic orders than species or subspecies. In the last few years entirely new life-forms which thrive in the boiling waters around deep ocean thermal vents have been discovered which offer exciting opportunities for development of medical and industrial processes. Marine and coastal systems provide important food sources, and marine creatures offer a multitude of different substances which may be of significance to the medical and chemical industry. It is well established that oceans play a key role as sinks for greenhouse gases, but also, and perhaps more significantly, there is increasing evidence that marine biota play an important role in global chemical processes which may affect the climate change. Thorne Miller and Catena suggest that the concentration on genetic, species and ecological diversity reflected in the work of terrestrial biologists (and strongly represented in the 1992 Convention) overshadows what has been termed functional diversity which reflect biological complexity of an ecosystem. In their words: In the face of environmental change, the loss of genetic diversity weakens a populations ability to adapt; the loss of species diversity weakens a communitys ability to adapt; the loss of functional diversity weakens an ecosystems ability to adapt; and the loss of ecological diversity weakens the whole biospheres ability to adapt. The evidence suggest that marine ecosystems are rich in functional diversity, and that there are therefore dangers in transferring to the marine environment concerns about lower order diversity and about protection of rarity which have been developed in a terrestrial context. There are threats to the very maintenance of ecosystems. The most significant threats are posed by marine pollution from a variety of sources and activities, from over-exploitation or indiscriminate exploitation of marine species, as well as the destruction of the coastal habitats. A large proportion of sea creatures depend on the inshore or coastal areas for an important part of their breeding or life-cycles. The destruction or degradation of coastal habitats or the degradation of coastal water quality therefore has a major impact on a widespread of marine `life. This does suggest that protection of rare and endangered species and of key and representative ecosystems may also be appropriate to certain aspects of marine biodiversity conservation. These protected areas cannot in themselves provide protection from marine pollution. It must also be said that despite the fact that 1982 UNCLOS specifically recognizes that the problems of ocean space are closely inter-related and need to b e considered as a whole. Also, the maritime jurisdictional zones recognized by UNCLOS, inevitably make arbitrary decisions in ocean ecosystems, do not assist a holistic approach to management of these issues. The recognition by international environmental law of the importance of ecosystem management is relatively of recent origin. The earlier environmental treaties related simply to species protection. It is possible to group the general classes of relevant international obligations. Firstly, those that address specific threats to marine environment and therefore to marine ecosystem.Secondly, those obligations that address the conservation what might be called ecosystems components and finally those obligations that require conservation of marine ecosystems per se. Such a classification may serve to identify the strengths as well as defects and lacunae in the current legal regimes. CONSERVATION OF MARINE ECOSYSTEMS The recognition of importance of management of ecosystems, rather than simply those of their components which maybe of immediate significance to mankind, is a relatively recent phenomenon. Crucial steps in development were the 1972 Stockholm Declaration and the 1980 IUCN World Conservation Strategy which formed the basis of the 1982 UN General Assembly World Charter for Nature, and which popularized the concept of, as well as the term, life support systems and which stressed the interrelationship of these with other ecological processes and genetic diversity. INTERNATIONAL REGIME FOR THE PROTECTION OF MARINE ECOSYSTEM UNITED NATIONS CONVENTION ON THE LAW OF SEA, 1982 (UNCLOS) In order to seek an answer to a wider question of whether there is a general obligation on all States to conserve marine ecosystem, it is necessary to look beyond the specific treaty obligations at customary international law. The starting point of this assessment is UNCLOS which came into force only in November, 1994 but which is widely recognized as reflective of customary law. Customary law recognizes the division of ocean into a series of juridical regimes which reflect criteria related to Coastal States sovereignty and resource exploitation rather than considerations of ecosystem integrity. The nature of the obligations which the customary international law, and now the 1982 UNCLOS, imposes on the States in relation to the marine environment does to a large extent depend upon the juridical nature of the particular waters under consideration, consequently these jurisdictional divisions can create a major obstacle to the rational management of ecosystems or species which cross or straddle more than one zone. Broadly, the oceans are divided into the following maritime zones: internal waters behind the coastal state baseline; a belt of territorial waters up to 12 nautical miles in breadth, a 24 nm contiguous zone with restricted enforcement jurisdiction, a 200 nm exclusive economic zone or fishing zone, and the high seas beyond these limits. Within each of these zones, the Convention envisages a different balance of rights and duties between the coastal states and other states. UNCLOS contains a number of provisions of general significance for the protection of marine ecosystems. Nevertheless, it would probably be a mistake to think this was a conscious drafting objective per se. It is certainly possible to read into the provisions of Part XII of the Convention endorsement for a marine ecosystem approach to marine conservation, although these obligations are even less precise than those relating to pollution control. Article 192 of UNCLOS recognizes a general obligation to protect and preserve marine environment. In so far as this goes beyond simple protection, it can be interpreted as being an obligation to behave in a precautionary way. Article 194(5) specifically requires that measures taken in accordance with this Part shall include those necessary to protect and preserve rare and fragile ecosystems as well as the habitat of depleted, threatened or endangered species and other forms of marine life. As this provision is located within general provisions of Part XII this requires all States to protect these special ecosystems and habitats form the effects of pollution originating from all sources in addition to other general conservation measures. Article 196 requires the States to take all measures to prevent, reduce and control pollution from the use of technologies under either their jurisdiction or control. This could be mean to read biotechnology or any other polluting technology. The rest of the paragraph requires the states to prevent, reduce and control the incidental or accidental introduction of species, alien or new, to a particular part of marine environment which may cause significant or harmful changes thereto. However, the definition of pollution adopted by UNCLOS does not make explicit reference to impacts on marine ecosystems. This defect has been remedied by in some regional conventions. In the Exclusive Economic Zone (EEZ) (Part V) coastal States are obliged to ensure through proper conservation and management measures that the maintenance of living resources is not endangered by over-exploitation, taking into consideration the effects on species associated with or dependent upon harvested species with a view to maintaining or restoring populations of such associated or dependent species above levels at which their reproduction may become seriously threatened. Similar provisions apply to such species in high sea fisheries. But these provisions only aim to maintain the viability of such species, and à ¢Ã¢â€š ¬Ã‚ ¦..[not] to protect their role within the food web or the functioning of the marine ecosystem as a whole. 1980 CANBERRA CONVENTION ON THE CONSERVATION OF ANTARTIC MARINE LIVING RESOURCES This is arguably the first convention to be centered on ecosystem approach to conservation and has been described as a model of ecological approach. Even the geographical scope of the treaty itself is unique, in that it is designed around the Antarctic ecosystem. Under Article 1, the Convention applies to the Antarctic marine resources of the area south of 60 degrees South latitude and to the Antarctic marine living resources of the area between that latitude and the Antarctic Convergence which form a part of Antarctic marine ecosystem. The Antarctic ecosystem is then defined by Article 1(3) as the complex of relationships fop Antarctic marine living resources with each other and with their physical environment. The sole objective of the Convention is declared to be the conservation of Antarctic marine living resources; conservation however is defined to include rational use. To achieve this end any harvesting or associated activities has to be conducted in accordan.ce with declared principles. These objectives, which clearly relate to the maintenance of the ecosystem rather than its exploitation, are implemented by the Commission for Conservation of Antarctic Marine Living Resources (CCAMLR) which coordinates research on Antarctic marine living resources and adopts appropriate conservation and management measures. A further formal step in the protection of Antarctic Ecosystem was taken with the conclusion of the 1991 Madrid Protocol to the Antarctic Treaty on Environmental Protection. 1985 ASEAN CONVENTION ON CONSERVATION OF NATURE AND NATURAL RESOURCES Another treaty of major potential significance but, unfortunately, still not in force after a decade is the 1985 ASEAN Convention on Conservation of Nature and Natural Resources. This Convention reflects in its wording the concepts contained in the 1980 IUCN World Conservation Strategy, embracing a clear ecosystem approach to conservation. Kiss and Shelton describe this Treaty at the most comprehensive approach to viewing conservation problems that exist today. The Convention recognizes the interdependence of living resources, between them and other natural resources, within the ecosystems of which they are a part. It is divided into eight chapters. It is tempting to observe that the major treaties calling for marine ecosystem conservation considered thus far are either limited in geographical scope, or not yet in force, or both. GENERAL CUSTOMARY INTERNATIONAL LAW There is a general obligation first promulgated by Principle 21 of Stockholm Declaration and now to be found in Principle 2 of Rio Declaration to ensure that activities within their jurisdiction or control do not cause damage to the environment of other States or to areas beyond the limits of national jurisdiction. This obligation not to cause damage extends not simply to activities physically located within the State territory but also to activities within the State jurisdiction. Customary international law would impose responsibility on States under this principle for a range of activities which impact on marine ecosystems whether such activities take place within the areas of national jurisdiction or outside or straddling such areas.Activities which could be argued to cause damage to marine ecosystems and to fall foul of this principle would include marine pollution particularly that emanating from land based sources and activities; it could also be extended to fishing and related activities which impact upon rare and endangered marine species or their habitat. REGIMES FOR THE CONSERVATION OF MARINE ECOSYSTEM COMPONENTS Historically, the two main techniques which have been utilized by international conventions for the conservation of marine species are derived from those taken for terrestrial species, namely, the regulation or prohibition of the taking of designated species and the protection of habitat by designation of protection areas. PROTECTION OF SPECIES The protection of designated species has habitually been addressed by the imposition of restrictions and prohibitions on the harvesting, taking or killing of target species. The approach was taken by the 1946 Whaling Convention, by the various seal hunting regulatory agreements and by the 1973 Polar Bears Agreement. Such a strategy is still maintained as a part of approach adopted by more modern generic or regional protected species treaties such as the 1979 Bonn Convention on the Conservation of Migratory Species of Wild Animals and the regional treaties concluded under UNEP Regional Seas Programme. PROTECTED AREAS The second key technique, often used in combination with protection of species and in modern treaties increasingly merge with it, is the establishment of protected areas either to protect the habitats of specific species or as representative examples of ecosystems or habitats. These may be important isolated areas or take their place within a systematic network permitting for example transnational migration. In the terrestrial environment between 5-8% of the total world land mass now lies in protected areas. Despite the fact the sea covers more than two and a half times the land area, marine protected areas may cover an area less than half that of terrestrial protected areas. REGULATION OF TRADE IN WILD SPECIES One of the major threats to marine species such as sea turtles is the commercial trade in products such as turtle shell. Other well known threats to marine ecosystems are posed by over exploitation of shells and corals for the tourist souvenir trade and of reef fish for the aquarium trade. CITES provides the main regulation of such trade, although a number of treaties provide independent proscriptions or regulation of such trade. CONCLUSION It is paradoxical that although the particular problems of conservation of many marine creatures, particularly pelagic creatures, make them particularly suitable to regulation at an international level under a treaty on biological diversity, in fact the most important discussions concerning conservation of marine biological diversity are currently taking place in the context of other forums those relating to land based resources, straddling fish stocks or at a regional or sectoral level. The recognition by the 1992 Convention on Biological Diversity of the issue of the conservation of biological diversity as a matter of common concern of humankind implies that all states have a legal interest in the issue as well as positive responsibility to safeguard it. However, this common concern still requires a more obvious focus than national actions or diverse regional or sectoral actions, for much of the attention has to be taken in international waters as well in coastal waters or in ways that will reflect natural ecosystem boundaries rather than national maritime jurisdictional boundaries. It can thus, be concluded that there is an existence of a substantial body of treaty law which seeks to address one or more aspects of marine ecosystem conservation. Although, a few treaties actually commit themselves to this, it is clear that a large number of treaty regimes are developing an ecosystem approach through their parties interpretation of their existing treaty obligations. UNCLOS can be seen as a most positive force in the crystallization of the general obligations of States to protect the marine environment. Nevertheless, important though the obligations of Part XII are in this respect, they too require further substantial elaboration and implementation. A protocol on the conservation of marine biodiversity in context of protection of marine ecosystems would be an obvious way of seeking to remedy the lacunae of existing regimes and refocusing attention on this crucial, but somewhat neglected, aspect of biodiversity debate.