Barney and Sustained Competitive Advantage.

When we left off in the last seminar, we were just starting to talk about firm specific advantages. According to Barney and his article Firm Resources and Sustained Competitive Advantage, a few things are needed to gain a firm specific advantage. But also, he argues that a firm can gain a Sustained Competitive Advantage. SLIDE According to Barney, a firm has a sustained competitive advantage when it is implementing a value creating strategy not simultaneously being implemented by any current or potential competitors AND when these other firms are unable to dublicate the benefits of this strategy.But what does a company need to gain such an advantage? First of all, it needs certain resources, which can include assets, capabilities, products, information, knowledge etc. SLIDE But these resources must have four attributes: 1. they must be valuable in the sense that they exploit opportunities or neutralize threats in a firm’s environment. This goes without saying. 2. They must be rare among a firm’s current and potential competition. This simply means that this resource or strategy cannot be implemented by other firms at the same time. They must be imperfectly imitable (hard to copy for other firms) and 4. There cannot be strategically equivalent substitutes for this resource that are valuable, but neither rare or imperfectly imitable. Can anyone think of a specific firm, or a type of business or industry, which has a clear example of sustained competitive advantage? Short discussion. SLIDE We thought about what kind of a firm could gain a sustained competitive advantage, and came to the conclusion that certain pharmaceutical companies are able to gain perfect sustained competitive advantage.To explain why, we need to have a look at the pharmaceutical market. To make things a bit simple, we can divide the industry into two different categories: Companies which develop new kinds of medicine, and others which copy the original medicine, and produce what is called generic drugs. Some companies actully do both. SLIDE Companies which develop new medicine spend huge amount of money on research and development when making a new drug. They get the best scientists from all over the world, gather huge amounts of medical information, test the drugs etc.They also need to prove the safety of a new drug, and demonstrate it’s effect, in special clinical trials. And of course, they need to market the new drug. This process can cost huge amounts of money. Lets say a company spends millions of dollars and ten years on developing a new drug that cures all kinds of cancer. It would be rather disappointing for that company if generic drug companies were able to copy the drug the moment it hits the market, only spending money on manufacturing the drug, but not on development and testing.The maker of the original drug would probably soon run out of business. SLIDE So, to protect the original drug, the company can get a patent for the new drug. For how long is different between countries, but for example in the US, patents give 20 years of protection. But for as long as a drug patent lasts, the firm enjoys a period of market exclusivity, or monopoly if you like. Under those circumstances, the company is able to set the price of the drug at a level which maximizes profitability. The profit can greatly exceed development and production costs of the drug.Often, when the patent runs out and many other companies start making generic drugs, the prices fall dramatically and real competition starts. But to sum things upp, new developed medicine can fit Barney’s theory: They can be valuable, rare and not only hard to copy, but simply impossible. SLIDE The point is – if a firm can develop a new important type of medicine, and get a patent so it wont be copied, it has a perfect sustained competitive advantage while the patent is still valid, and therefore, fits well into Barney’s theory.

Informative Speech: Alfred Nobel

What would you say if one morning you wake up, read by mistake your own obituary, and see what people think about you? How would you like to be called:† the merchant of death, who built a fortune, by discovering new ways to mutilate and kill, is dead†. This happened to Alfred Nobel. The story is that when Alfred Nobel’s brother died, a French newspaper mistakenly published an obituary of Alfred. When he read this, he remained pained all of his life. The purpose of my speech is to inform you who Alfred Nobel is.Although, I have not known Alfred Nobel in person, by reading his biographies, along with my great interest in history of inventors qualifies me to speak on this matter. Today I would like to inform you, who Alfred Nobel is; what he had done to be famous, and how he affected our world/society. In the beginning, I will start with some background information, including place, family and education. Alfred Nobel was born on October 21, 1833, Stockholm, Sweden.He was the forth son of Caroline and Immanuele Nobel, a manufacturer of torpedoes, mines and explosives. In order to achieve better life conditions, when Alfred was nine years old, the family moved to Petersburg, Russia, where Alfred received private education. From the beginning, Alfred proved to be a genius. He was not only a brilliant student with vastly laboratory skills, but also a competent chemist. By the age of seventeen, he was fluently writing and speaking in five languages: English, French, German, Russian, as well as Swedish.According to Kenne Fant in a biography called â€Å"Alfred Nobel†: â€Å" All his life he derived nearly as much pleasure experimenting with language as he did experimenting with acids and powders in his laboratory(p. 5, ch. 13). † Trying to sum up his life in one sentence, he offered the following: â€Å" I am a misanthrope and yet utterly benevolent, have more then one screw loose yet am a super-idealist who digest philosophy more effic iently than food. † Today, since 1902, we mainly recognize Alfred Nobel as the founder of the Nobel Prize.Today, since 1902, most of the people recognize Alfred Nobel as the founder of The Nobel Prize. Now that I gave you some brief information about who Alfred Nobel is, I will tell you how he became famous. Fascinated by the speculative and experimental elements of chemistry, Alfred transformed his kitchen into a small laboratory. From the beginning, he became very interested in the inexplicable behavior of an explosive substance called nitroglycerine. Nitroglycerine is a yellow liquid that is explosive near sudden heat; also today, it is used as a vasodilator medicine.Therefore, in 1863, Alfred Nobel was the first to solve the mystery of detonating NG in a practical useful way. This detonator marked the beginning of Nobel’s reputation as an inventor. According to British historian F. D. Miles, â€Å"the introduction of a detonating cap is without doubt the greatest d iscovery that has ever been made, in the theory and practice of explosives. On this discovery all modern application of explosives is based (p. 57, ch. 12). † However, due to its dangerous properties, NG was very risky to handle and transport.In fact, it was so dangerous, that Nobel’s factory blew up killing his younger brother and other innocent people. After this incident, Alfred became even more determined in finding a new foolproof way to transport NG, but without diminishing its blasting power. Therefore, in 1867, once again Alfred proved himself the inventor of the impossible – a reddish-yellow plastic mass, called dynamite, established his fame world wide, for the second time. In his experiments, he experiment in search of better ones, so in 1875 he invented a more powerful form of dynamite, called blasting gelatin.Now that you know how Alfred Nobel became famous, I will tell you how the result of his experiments along with the legacy he left behind affect ed our society. First, critics believe that Alfred Nobel created his explosives for peace purposes only. His explosive substances were critical to mining operations and communication systems, such as the construction of the railroads and tunnels. Secondly, Alfred, himself said, â€Å"There is nothing in our world that can not be misused†. Thus, ballistite, recognized as one of Nobel’s most disturbing inventions, revolutionized the munitions industry.Moreover, three decades later, Krummel, one of his explosives factories became the site of Germany’s largest atomic reactor. In addition, the dynamite had its first use in 1870 when the Franco-Prussian war broke out. At his death, in 1896, ninety factories of manufacturing explosives and ammunition already existed. However, instead of all his â€Å"demonic devices† that he created, Alfred never wanted to be remembered as the â€Å"merchant of death who kills and mutilate†, thereby he rewrote his will, c reating the Nobel Peace Prize.Since 1902, every year in Sweden, the Nobel prize is awarded for achievements in chemistry, physics, psychology, medicine or literature and of peace. Today I had the pleasure to inform you about the life of Alfred Nobel, by also mentioning how he became famous and how he changed our world. According to Kenne Fant, â€Å"Alfred Nobel left a legacy of lasting importance. Through his prizes, this restless, eternal wanderer, has forever etched his name in human memory (p. 7,ch. I). †

France and United States Health Care Policy Comparison

Abstract The efficacy of the social policies of health care has become a topic of considerable debate. This essay examines the nations of France and the United States in order to develop better understanding of the similarities and differences to be found in each system. The evidence shows that both nations are attempting to address the same issue, through different methods, which in turn are based on social policy. This research will be of value to any person studying the convergence or dependency theories. 1. Introduction As technology unfies the world, there is a continuous debate on the efficacy of individual social policies. This essay assesses and compares the Health Care policies found in the France and the United States in order to illustrate the strengths and weaknesses associated with the processesThe essay identifies convergence or path dependency theory in order to demonstrate how different nations approach the same issues. Suggestions for the future will be offered 2. Health Care Policy2.1 OverviewHealth care is an issue that every nation has to address in order to create a stable, profitable internal environment (Fischer and Collins, 2010). Health care policy can be defined as an effort to alleviate ill-health amongst the population. Although health care policy is increasing, some debate its efficacy (Fisher et al, 2010). This literature suggests that varying societal factors including perception and acceptance play a positive role in the establishment of any social or health care policy. In order to explain the development of healthcare policy, two theories are commonly employed: convergence and path dependency (Dutton, 2007). Each of these methods speaks to the cultural need to assert a semblance of cultural impact on the development of national societal institutions such as health care policy. Cnvergence theory is commonly tied to the functionalist approach which speaks to the societal expectations of having to meet requirements in order to survive and continue to operate (Baldock et al, 2012). The essence of this view associates an increase in industrialization with the coinciding resemblance to other already industrialized nations. This suggests that these forms of nations learn from and adapt other countries policies in order to enhance their own development. Alternately, the path dependency theory denotes a ‘history matters’ approach, that states future social decision and influences are constrained and based on past practices (Baldock et al, 2012) . Prior decisions have a limiting impact on future actions, this method of development often is relegated to the already present institutions that society embraces. This definition of alternative development models indicates a defined social impact to any form of policy institution, not the least of which becomes health care and general population well-being. Both the United States and France will be assessed for their health care policy approach, seeking to Understand whether the convergence or dependency models is more influential.2.1.1 Health Care Policy FranceThere has long been a public policy approach in France (Hantrais, 2010). There is a commonly held belief a nationally subsidized health care system provides a methodfd keeping the population healthy (Hantrais, 2010). With a consistent pattern of leadership in the industry, providing a consistent and strong health care France has illustrated a convergence/functionalist approach to the health care issue, often citing their system as a model for other nations (Marmot et al, 2012). In many ways this evidence speaks to the fact that a healthy population enables increased access and opportunity to social benefits by reducing health care costs and increasing spending in other areas. France as a European nation is marked by a larger than average ratio of health spending yet remains much less than their counter parts in the West spend on health care(Marmot et al, 2012). Alongside this popular national support rests that the fact that the population is largely healthy with a average life span two years more than the rest of the word (Marmot et al, 2012). . The French is to manage cost by implementing a system of premium health care levels that are directly associated with a person’s income (Rodwin, 2003). This is a targeted policy that seeks to make insurance as affordable as possible in order to ensure that that each person has access. Further, this limits opportunities for the insurance industry to adjust rates unfairly or at a disadvantage to certain conditions or participants (Rodwin, 2003). This element of control takes away much of the ability for companies to overly profit from the insurance market. With the French system taking on the burden of the majority of medical expenses through a system of reimbursement, the average citizen’s ability to sustain health insurance is higher (Rodwin, 2003). This protection is enhanced and extended to the people who need healthcare the most, making the issue of major illness much more manageable on the economic and social front. Due to the quality of universal healthcare in France, there are very low levels of private insurance, a further indication of the capacity for this system to not only manage cost but provide efficient and dependable care (Marmot et al, 2012). With a public system in place,the need for private insurance in significantly reduced, further ensuring less expense for the average citizen. France possesses a well-developed system of independent and public hospitals (Rodwin, 2003). This wide ranging access to care has been credited with further enhancing the overall rate of health and effectiveness in the nation. Yet, the diverse manner of health care oversight has been cited as an issue (Marmot et al, 2012). With nearly fifty different regulatory agencies to contend with, each faculty has to negotiate an ever-changing environment, which provides a serious challenge to many institutions. A further problem is the rising influence of the pharmaceutical industry, intent on generating profit rather than being concerned with benefiting the people of France (Clarke and Bidgood, 2013). With prescription charges payable, there is anarea of concern Regarding affordability of medicine. In summary Universal health care in France is a nationally subsidized system that reimburses out of pocket patient expenses, based on that person’s rate of income. With a convergent form of policy that seeks to make the French system a global model, the high quality of care denotes a degree of success. However, the high rate of regulation serves to diminish many of the positive elements of the policy. The French system has offered other nations a model of healthcare promising to reduce sickness, thereby decreasing underlying societal cost. In France, there is evidence that health policy supports citizens during times of sickness or injury.2.1.2 Health Care Policy United StatesThe healthcare system in the United States has long been an area of contention within the nation, commonly resulting in politically partisan fighting that diminishes the ability for any system to function (Hoffman, 2008). With the ascension of a liberal regime in the United States, the recent past has wit nessed a shift away from the individual, less regulated, insurance market to a form of universal health care with far more federal regulation. The private market controls the health care insurance market, making the need for supplementary services high in order to meet every expectation (Hoffman, 2008). With the rising cost of health care and a general lack of productive policy, the shift away from the strictly private system has been a rough evolution for many in the United States. With a standing of 50th in the world foro effective health care policy as rated by the OECD there seems to be a suggestion thathe US system has begun to change to match other models, actively incorporating the convergent theory and seeking to emulate the positive health trends Found elsewhere. (Palmer, 2014), There are multiple levels of regulatory oversight in the US system of health care (Gulliford and Morgan, 2010). This is a reflection of the national and state level authorities that commonly find themselves at odds with one another. With this abundance of regulation there is substantial paperwork (Hoffman, 2008). Evidence suggests that there is a potential for politics to play a role in the policy making efforts of healthcare. This opportunity for gain at the expense of the national system is often attributed to the wellbeing of the very people that need it most, the lower earners and single mothers. US federal oversight is conducted by the Department of Health and Human Services, which ensures that the appropriate compliance guidelines are followed by states (Gulliford et al, 2010). This section of governement oversees procedures from county/state level to the national level. In this manner the integration of State and Federal concerns can serve to aid in the implementation of healt h care policy throughout the nation. Yet, it also seems to be the case that there is a potential for conflict among policy makers, leading to a poorer service Medical professionals in the US are licensed under the American Medical Association, with an aim of ensuring a high quality of care and adherence to ethical guidelines (Kominski, 2011). . It has been suggested that the US private system is commonly influenced by the presence of rich or well to do patients or donors (Palmer, 2014). This perception seems justified, as the best performing doctors are often unavailable to the average US citizen, thereby creating an unintentional division of care which is reflected in the life expectancy numbers. Yet, this is a demonstration of the convergent theory at work in the functionalist US society, as the recognition of expanded need becomes apparent; public policy was created to address the issue. In summary The health care policies found in the United States have been shown to be rated as moderate by the international community. Before the shift to the universal care subsidized by the nation, the gap between rich and poor in terms of healthcare had widened. Many people lacked health insurance. In order to address this, recent liberal policies found in the US were formulated but have been much debated. It can be suggested that new policies have succeeded in lowering the rate of people without healthcare insurance, thereby beginning the effort of increasing the health of the population in general. Yet, the regulatory environment found in the healthcare system in the US is often counter-productive. Further, this every area of contention has led to a gap of states that have accepted the new universal care and those that have not, decreasing the impact that they policies have on a considerable number of citizens.2.3 ComparisonThe health care policies found in France in the United States share many similarities as well as considerable differences. For example, the French tradition of seeking social remedies to health issues is sharply differed from the American approach of ‘goes it alone’ fundamentalism (Flynn, 2010). In many cases the expectation that everyone must take care of themselves has led the US health care system to sharply different levels of care in regions, largely based on the underlying income factors of the residents. Conversely, France has long sought to provide a balanced method that seeks to present a useable model to the rest of the world (Fisher et al, 2010). This is best illustrated by the life expectancy rates found in the US of 78.4 and 81.3 in France (Fisher et al, 2010). With numbers supporting the success factors in France over the prior efforts in the US, the American shift to the more universal system is considered a convergence with modern examples such as France leading the way. A factor that both systems share is the high quality of physicians and practitioners that are involved in health care (Palmer, 2014). While the French system is primarily publicly owned and supported, the US policy dictated that many of their institutions are privately owned and operated, presenting further considerations during the transition to universal health care in this nation. This same issue presents itself as a difference between the social policies as the French doctors are paid substantially less than their American counterparts (Palmer, 2014). Yet, the French approach to this issue was to make subsequent education and associated services free to those in the medical profession, thereby reducing the need for the extravagant wages that many experience in the West (Guilliford et al, 2010). This same measure of policy support is yet absent in the American system, which makes a considerable difference as to where and how a student can learn and practice. This literature sugges ts that there is a need to make expenses of the medical learning process reduced in order to present a method of paying fair wage thereby allowing the entirety of the population to receive the same quality of care, regardless of financial position or social standing. The spending levels for medical needs in the United States far outweigh those experienced in French system, demonstrating effective policy (Palmer, 2014). In part due to the rapidly rising cost of health care, the American system was forced to shift to a universal policy in order to slow the impact that this substantial cost on the overall economic outlook for the nation. With both nations providing a social policy of immediate emergency care, there was a widespread perception in the US that this would alleviate much of the lower class medical issues, yet, conversely, this phenomena of utilizing emergency care for routine care served to drastically increase the need for funding from the national level, thereby prompting new policy modelled on systems including the UK and Canada (Palmer, 2014). This is in contrast to the French model, which involves more spending per citizen, but has shown positive performance in response to spending levels. The United States policy of health care has a compulsory insurance mandate this is designed to ensure that each citizen has insurance (Palmer, 2014). Conversely, the French system utilizes a series of reimbursements based on wages in order to supply the same medical services. In some ways, the perception of the US system has been cited as a form of increased taxation on the healthy, with these views stating that they are supporting the poor of the nation. Despite the strength of health care available in the United States, until recently there was a marked increase in the value, with many of the citizens putting off routine care in favour of waiting for emergency, which in turn inflated health costs of every level (Palmer, 2014). However, France overcame this issue by establishing oversight panels that ensure that fair access is assured and that the population has access to the same general level of care. A common component of both nations health care policy is the multiple layers of bureaucrats and agencies that dictate policy (Flynn, 2010). Both nations cite the need to reduce the layers of oversight in order to streamline the process, which would in theory reduce administration costs and aid the both nation and industry. In a very real manner, this evidence suggests that the long term capacity to develop a working system will be found by taking the best of the existing structures and using these as a foundation for growth. 3. Conclusion This essay has examined the social policies of France and the United States in the field of health care in order to evaluate and compare their offerings. The evidence presented illustrates a position of French strength through communal action. With proven records supporting the reduction in health issues, rise in life expectancy and overall positive implementation there is a model for progress. Alternately, the private system once favored in the United States has evolved to a more UK or Canadian style system that requires consumer participation. This recognition and development on the part of the American nation is deemed an example of the convergence/functionalist theory with the country seeking to alleviate many of the social health issues by implementing a system similar to other nations. An area of weakness demonstrated in both societies that have the potential to raise issues in the future is the presence of an over regulated system. With so many different agencies responsible f or the oversight and regulation of the same industry, there is a need to coordinate and simplify the process in order to aid both the consumer and the provider. Further, this area is prone to political partisanship or bias, which in turn has a direct impact on the quality of care and policy that develops. In the end, the social policy of health care has been deemed of critical import for both France and the United States. Yet, just as the nations are culturally unique yet share traits, so too will the health care issue, with both nations seeking to address the same issue though slightly differing means. Only time will judge which has been the better approach. 4. References Baldock, J., 2013. Social policy. 1st ed. Cambridge, UK: Polity. Dutton, P., 2007. Differential diagnoses. 1st ed. Ithaca: ILR Press/Cornell University Press. Feldstein, P., 2012. Health care economics. 1st ed. New York: Wiley. Fisher, K. and Collins, J., 2010. Homelessness, health care, and welfare provision. 1st ed. London: Routledge. Flynn, N., 2010 Social Policy, fiscal problems & economic performance in France, United Kingdom & Germany. London, 1(1). pp. 65-100. Gulliford, M. and Morgan, M., 2010. Expanding access to health care. 1st ed. Armonk, N.Y.: M.E. Sharpe. Hantrais, L., 2010. French social policy in the European context. Modern & Contemporary France, 3(4), pp.381–390. Hoffman, B., 2008. Health care reform and social movements in the United States. American journal of public health, 98. Kominski, G., 2011. Changing the U.S. health care system. 1st ed. San Francisco: Jossey-Bass. Marmot, M., Allen, J., Bell, R. and Goldblatt, P., 2012. Building of the global movement for health equity: from Santiago to Rio and beyond. The Lancet, 379(9811), pp.181–188. others, 2012. Health, United States, 2011: with special feature on socioeconomic status and health. National Center for Health Statistics (US). Palmer, K., 2014. A Brief History: Universal Health Care Efforts in the US | Physicians for a National Health Program. [online] Pnhp.org. Available at: [Accessed 19 Apr. 2014]. Rodwin, V., 2003. The health care system under French national health insurance: lessons for health reform in the United States. American Journal of Public Health, 93(1), pp.31–37. Sauret, J., 1997. Information systems in healthcare Situation in France. Health Cards’ 97, 49, p.27.

Food Security in International Background Essay Example | Topics and Well Written Essays - 750 words

Food Security in International Background - Essay Example Such factors as global warming, climate changing and natural disasters put the growth of products and their quality under the threat. The food security exists when all members of the society have the access to its enough quantity for healthy life and well-being. People who live under the conditions of poverty and products insecurity experience fear and have the limited abilities. The definition of food security, formulated at the Rome meeting, includes the following elements: Food policy is seen as a set of measures designed to meet systematically and effectively not only the challenges of development of production, foreign trade, storage and processing, but also a fair distribution of basic food products, as well as social development of rural areas. Food security is one of the main objectives of agricultural and economic policy. It generates a motion vector of any national food system to the ideal state. â€Å"Large numbers of people in the world are chronically hungry, meaning th ey are undernourished because they don’t receive enough energy to live active lives. While chronic hunger has been an issue of global concern for decades, recent events, including a global recession and rising food prices have significantly increased the number of chronically hungry people† (McDonald, B., 2010, 4). The United Nations Agriculture organization stated that there were one billion of hungry people throughout the world in 2009. This condition motivated the increase of food supplies in the global sense by means of development of infrastructure and reduction of poverty. As we can see, the state authorities work intensively on this issue, trying to prevent the future growth of hunger level in the world. The national policy is aimed to create the more sustainable food systems. If we take the USA as an example, we can see that the farmers have to wait three years, after the usage of pesticides, before these products are recognized as organic  and ready for consu mption.  

Film Genre (English Class) Research Paper Example | Topics and Well Written Essays - 1250 words

Film Genre (English Class) - Research Paper Example The success of the gangster film with audiences later influenced filmmakers like Francis Ford Coppola, whose 1972 epic The Godfather casts its criminal characters as appealing archetypes of good â€Å"family men,† doing whatever is necessary to survive and thrive in a dangerous world. The growing popularity of gangster films in the first three decades of the twentieth century owes a great deal to the American public’s fascination with notorious real-life gangsters such as Al Capone. The gangster cut a dashing figure—his sharp dressing style, marked by â€Å"pinstripe suits, fedoras, and fancy neckties,† created a whole new image for the American gangster, serving to â€Å"legitimize their status as businessmen† and allowing them to represent themselves as â€Å"a model of the new American ideal for the urban working class† (Beshears 197). Of course, his carefully-crafted outward appearance served to disguise the fact that Capone was, for all intents and purposes, little more than a common criminal. Like many of his criminal contemporaries, Capone made a fortune bootlegging liquor after Prohibition was enacted in 1920. Yet Capone and his cronies were not roundly vilified for their criminal activity. Instead, the public became enamored with the heady tales of the ongoing struggle between gangsters and the police who sought to shut them down. The â€Å"old moral order† (199) had broken down—in its place, many Americans had begun to embrace â€Å"a nihilistic outlook on life† (198) driven by disillusion in the wake of World War I. The resulting lack of optimism and distrust of authority created an environment in which gangsters were painted almost as folk heroes. They were perceived by many to be Robin Hood-type figures fighting the establishment on behalf of the downtrodden. In reality, however, the gangsters were solely in it for themselves, eager to make a profit even through the most nefarious of me ans. Based in large part on the infamous persona of criminals like Capone, the â€Å"gangster film† became a popular genre, exploding into success in the early 1930s. The gangster film is a sub-category of crime films in which the main characters are part of a gang or are otherwise affiliated with a crime organization or mob. The film typically depicts the rise and fall of the main character, a man whose ruthlessness, cunning, and unrepentant narcissism take him to the top and cause his subsequent downfall. The movies are set in large cities so as to â€Å"provide a view of the secret world of the criminal: dark nightclubs or streets with lurid neon signs, fast cars, piles of cash, sleazy bars, contraband, seedy living quarters or rooming houses† (filmsite.org). The movies are generally bloodbaths—multiple characters die as a result of their association with the gangster. Though in the earliest gangster films, much of the violence occurred off-screen, later film s almost gleefully depicted the random violence associated with the gangster way of life. Additionally, these films are crafted as â€Å"morality tales: Horatio Alger or ‘pursuit of the American Dream’ success stories turned upside down in which criminals live in an inverted dream world of success and wealth†

Connection between corporate governance and company valuation in Assignment

Connection between corporate governance and company valuation in emerging market countries - Assignment Example fferent features of the corporate governance structures like the protection of the interests of minorities and in adequate rights of investors lead to poor performance within the firm and low value creation for the business (LaPorta, Silanes and Shleifer, 1999, pp.471-517). In many similar studies, researchers have indicated that the firms which follow lesser or no stringent rules in the corporate governance practices generally tend to have lower valuation in the market. Klapper and Love (2012) have focused their study on the emerging markets and indicate that poor corporate governance practices can increase the risks that are associated with the investments in the emerging markets (Klapper and Love, 2004, p.703-725). In a particular study on the emerging market of Korea, Black and Kim (2003) have pointed out that corporate governance is a significant dynamic of the market value of the firms in Korea, especially for the public companies (Black, Bernard and Kim, 2010, pp.414-425). Bla ck (2001) also establishes a significant linkage between the corporate governance and the value of firms in the market of Russia. Black, Bernard, Love and Rachinsky (2006), suggests that whereas in developed countries like the United States and Europe the corporate governance practices are not as critical as factors like ownership structure from deciding the value of the firm, in developing economies the role of corporate governance in deciding the value of the businesses is significant (Black, Love and Rachinsky, 2006, pp.361-379). Transparency can be implemented by stringent corporate governance practices and transparency is a critical factor in preventing the conflict of interest of the controlling shareholders and the minor shareholders. The conflict of interest between the controllers of the business and the external finance sources of the business may result in the development of the principal agent problem. The principal agent problem will create agency costs that are likely to

Evaluation of the chairman report for AL MAZAYA HOLDING CO Essay

Evaluation of the chairman report for AL MAZAYA HOLDING CO - Essay Example It implies that gap between the auditor’s signature and that of the chairperson was one month. One month is a short time and it enhances the timeliness of the company’s chairperson report thus improving the relevance of such information to users such as investors. The precision of the chairperson’s report enables the users of such information to base their decisions on current information rather than outdated information. Thus, it is easy for users of financial information to assess how much the company’s financial situation has changed since the publication of the financial statements. In this case, the information presented in the chairperson’s report reflects the information contained in the financial statements because of its precision. The balance between past information and future information is 92.3 percent. The chairperson’s report focuses more on past information than future information. For instance, he reflects on the promise the company made at the beginning of 2013 and reminds the reader that the company has fulfilled its promise. Additionally, the report primarily focuses on the company’s achievement in the year 2013. Approximately twelve sentences talk about the past while on the contrary only two sentences discuss the future. The chairperson is obsessed with the past because the company recorded stellar performances in its operations. For example, the company achieved a 2000 percent increase in profits. It is amazing to see a company record such performances and investors must be glad that their investments yielded high returns. Past information is important for the company because it attracts new investors who will be willing to buy shares in the company because of its stellar record. Ho wever, there should be a balance between the past and the future so that investors can acquaint themselves with where the company is coming from and where it is heading. Thus, the chairperson fails to give a

Nike Just Do it advertising campaign analysis Essay

Nike Just Do it advertising campaign analysis - Essay Example Major trends in marketing Global marketing has witnessed several trends that have revolutionized the ways companies inform and persuade customers to start using their products and services. One of the trends is the shift from mass media advertising to specialized media that caters for personalized consumption patterns and segmentation of the market in terms of income levels, tastes and preferences (Batra, Myers and Aaker, 2009). In this case, Just Do it campaign initially focused on the mass market through appealing to target audience regardless of income, age, and sporting activities. However, Nike shifted the campaign to niche markets such as athletics sports, football and young generation who prefer fitness through seeking celebrity endorsements (Batra, Myers and Aaker, 2009). Another trend is the use of data-based marketing as opposed to focus marketing thus Nike has shifted its efforts to market research activities that aim at identifying the consumer incomes changes, changes in tastes and preferences (Shah, K & D’Souza, 2009). Accordingly, the internet and new media channels like YouTube, direct marketing through e-mails and digital platforms like twitter and online discussion forums have enabled Nike to cut its advertising costs on traditional media and focus on new media channels that elicit high feedback and interest among consumers. Web-based marketing has enabled companies to reach the global market due to instance response and its ability to elicit responses. Another major trend in marketing is the event marketing that entails face-to-face conversations via trade shows, live events and corporate meetings (Carbasho, 2010). Nike uses several sporting events to... This essay " Nike ‘Just Do it† advertising campaign" analyze Nike's commercial and why it become so successful. Nike aimed at attaining several objectives with the ad campaign. First, the company wanted to gain brand awareness and recognition during the fitness craze in order to gain market share in the American market. Accordingly, the company aspired to create good relations with potential consumers through providing inspiring messages and encouraging consumers to pursue their dreams. At the same time, Nike was geared at informing the consumers of the benefits of fitness, sports and benefits that could be derived from purchasing Nike’s athletic shoes and sporting apparel. Accordingly, the use of the slogan in merchandise such as school bags and jumpers was geared at creating primary demand for the non-sport and Nike-related commodity market through demonstrating the value of Nike products. Advertising aims at positioning the product in order to create a distincti ve impression on the minds of the consumers and assign an intangible value to the brand. Accordingly, Just Do It ad aimed at linking the social lifestyle in America with the brand’s image through making consumers understand Nike cares for their health and wellbeing. In addition, Nike aimed at winning back the previous customers who had shifted to competitors like Adidas and minimise the existing negative attitudes towards Nike products). Nike sought to build brand loyalty in a friendly manner and increase sales among the existing consumers.

BRITISH STUDIES Essay Example | Topics and Well Written Essays - 1500 words

BRITISH STUDIES - Essay Example There are many benefits to being a part of this great institution, and a revamping of the marriage law could be an asset in the improvement of our culture, economy and health. Whereas it can be argued that many aspects of society are required to evolve and grow with the times, the rate and extent to which marriage is able to do this is of the utmost importance as it is one of the most basic traditions and helps to establish one of the most fundamental aspects of modern society. As a function of seeking to understanding and define this institution in the light of the current era, with regards to how much or how little the institution of marriage has been able to evolve with the times, it will be the hope of this author that such an analysis will be capable of presenting a functioning and well argued piece of research into this topic so that the reader might come to a more informed understanding of societal evolution and growth with regards to this most fundamental of traditional socie tal demarcations. As with many traditions and cultural understandings, there can be no denying that the culture of marriage has changed. The cozy imagery of the perfect marriage, as exhibited by the now-comical television shows of the early 1960s and late 1950s have long since faded from memory (Dommaraju, 2009). Fairy tales with stories of love- ever- after were, and to a large part still are, what children are raised on. Within the not so distant past, little girls dreamed of the knight in shining armor, or being brought back to life by a simple kiss from a Prince. When the movie, â€Å"Love Story†, first appeared society was still extremely absorbed in a marriage culture that encouraged and supported getting and staying married until the end of one’s days (Fortunato & Archetti, 2010). Within a few years, the womens movement, the pill, the

History Essay Example | Topics and Well Written Essays - 500 words - 1

History - Essay Example This implies an assumption that colonial powers could and should simply take for themselves what they needed from civilizations that were less well developed industrially. The exercise of power is quite blatant, since it denies the rights of the other nations, and speaks of a duty to â€Å"civilise inferior races† (Ferry: 1884, no page number). The terminology of empire casts the conquered lands as â€Å"savage wilderness† (Beveridge, 1898). In contrast, the colonizers are lauded as saviors: â€Å"it is ours to save that soil for liberty and civilization.† (Beveridge, 1898). This kind of rhetoric stresses the incompetence of conquered lands in governing themselves, and the positive contribution that colonial powers will make on the lives of the conquered peoples. These ideas show just how arrogant and condescending the western powers were, and how little they were able to appreciate different ways of living than their own. The notion of cultural supremacy is take n for granted in the political texts mentioned, but it also creeps into arts and literature as well.

Auto Insurance Essay Example for Free

Auto Insurance Essay They can serve to insulate you from economic upheaval in the case your car is destroyed or stolen or even from bankruptcy in the event you are sued for damages someone sustained in an accident involving your car. The author guides the reader through several key criteria which should be considered in an analysis of their own policy. A 12 page overview of the world of automobile insurance. Choosing adequate automobile insurance can be one of the most cost effective things an individual can do in this modern age. Not only can automobile insurance This 6 page paper provides an overview of the basic management strategies of the USAA insurance company. This paper considers the management perspective and strategy, as well as the operational function of the company and the increasing importance of restructuring principles for the company. premiums whittle away a sizable chunk from an individual’s take-home pay, they can serve to insulate you from economic upheaval in the case your car is destroyed or stolen or even from bankruptcy in the event you are sued for damages someone sustained in an accident involving your car. The author guides the reader through several key criteria which should be considered in an analysis of their own policy. 6 pages. The BMW M3 has been the subject of many articles and consumer report studies recently. Rating cars is not only just an annual task for automotive journalists but it is also a subject which auto enthusiasts look forward to eagerly each season. Did their favorite car make it to the top? What did the critics have to say about it? And do these opinions agree with those who actually own these cars? This paper focuses on the BMW M3 in the sports car class. For those who own the BMW M3 it is likely they will claim that hands down it is the best sports car they have ever driven. Although not all of the auto magazines rated the BMW M3 as number one, most owners will disagree. The BMW M3 has everything a driver wants in a sporty car. By looking at several magazine articles and talking to drivers of these well-made and handsome cars, it is easy to conduct our own survey. Bibliography lists 12 sources.

Daily Checklist Safety Essay Example for Free

Daily Checklist Safety Essay When planning healthy and safe indoor and outdoor environments and services, there are certain factors which need to be considered for example, the setting needs to take into account the risks and hazards around the setting inside and outside -outside, to ensure there are no poisonous plants, berries and sharp objects and inside that all the doors and gates are locked. Risk assess the setting for broken toys, the floor needs to be clean and clear, plugs are covered and fire exit doors are clear. The layout should have space between each activity and display. Health and Safety is monitored and maintained in the setting by (is there a checklist for example where you have a list of daily/hourly checks to do on the premises to ensure you are maintaining a healthy and safe setting?) following a Health and Safety Checklist provided to us by our manager which includes tasks such as check the doors are locked, that there is a safety gate to the kitchen area, practise fire drills and ensuring hazardous substances are locked away in cupboards. By following these checklists we are also made aware of the risks and hazards not following the checklist can cause and this encourages us to work safely. Current guidance for planning healthy and safety environments and services can be sourced from the Playgroup Manager, Slough Sure Start ,Ofsted, The Dept of Education, Health protection agency and the EYFS. Following the current guidance in the health and safety at work act 1974, gives the responsibility for health and safety to the employer and employees. The premises must be well maintain and safe, accidents and indents form must be fill in when any accident occurs. Health and safety at work regulations 1999, childcare act 2006, and the 2008 act that covers the early years and legislation on safeguarding. The EYFS 2008 ensures that there is an adult/child ratio in place, a first aid qualified person in the setting at all times and all staff have a qualification of about level 2. The setting follow the policies and the guideline of the EYFS. We risk assess when taking the children off the setting premises by filling in a trip planner with the name of the child and the contact number of the child parent with they permission form. Name of all the staff that are going on the trip. (This is an example, you need to explain more about how staff are made aware of the risks and hazards in the setting and encouraged to work safely, give examples like, posters, staff meetings. How does Sharon monitor you guys on HS or how does she give HS information to you).

Detection and Classification of Leukaemia Cells

Detection and Classification of Leukaemia Cells Leukemia is one of the many types of cancers. Leukemia is caused in the white blood cells near the bone marrow region of our body. In this the WBCs which get infected turns blue. Like any other cancer in this also the cell divides itself at the faster pace. Most human cancers are characterized by the aberrant expression of normal and/or mutated genes, and natural selection acts on cancer cells to cause a loss of growth control, angiogenesis, invasion, and metastasis. Even when it is not required they multiply causing a tumor. Detected and treated at an early stage of leukemia saves a lot of lives. The aim of this research is to automate the detection of leukemia cells. In the scientific language, the leukemia cells are known as the blast cells. There are two types of acute leukemia, Acute Lymphoblastic Leukemia (ALL) and Acute Myeloid Leukemia (AML). This thesis focuses on Acute Lymphoblastic Leukemia (ALL). Generally, the process of detection and classification is done manually taki ng up to five days. The motivation behind this research is to improve the diagnostic process by automating it and reducing its time span to five days to few hours. Nowadays, medical imaging is one of the fastest growing fields in medicine, clinical settings and research and development (RD). Image processing in medical field is becoming a subject of prime focus due to its tremendous potential for the public health sector and the scientific community in general. In particular, imaging applications are emerging as a new opportunity as an innovation at the meeting point between medicine and the computer science. Many software and research groups focus on the development of image processing applications for medical images, for example to improve low resolution photographic images and produce effective high quality images. There is no terrifying disease than cancer nowadays. It is often seen as untreatable, un curable and a very painful disease. Leukemia detection helps in detecting blood cancer using two basic modules of image processing i.e. Image segmentation and feature extraction. After these two modules, we use two techniques of neural network i.e. feed forward network and RBFNN for the detection purposes. We compare the accuracy percentage in both of them. The technique with best accuracy percentage is recorded as the more efficient technique. More than 310,000 Americans are living with leukemia. Every day 143 Americansare detectedwith leukemia and 66 lose the fight. [23] A brief overview of leukemia and a conceptual analysis of the main methods used for the detection and classification of leukemia cells facilitating Artificial Intelligence, Cellular Automata and Neural Networks are discussed below. Cancer has become a data-intensive range of investigation, with growing amount of changes in data collection technologies and methodologies. In 1895, Wilhelm Roentgen discovered that X-ray tubes, utilized widely for imaging bones and then for giving a variety of circumstances. The technicians who ran the radiograph machines and many exposed patients were found with skin tumors and leukemia. Accurate diagnosis and sorting of blast cells is an tremendously valuable necessity for the detailed diagnosis of leukemia and has a optimistic impact on treatment and prognosis. BLOOD Blood is important part of human life. An average human body is around 70 liters of liquid from which five liters is blood. Biologically, blood is vital for preserving homeostasis that is keeping the body’s position stable. This discusses to hydration, temperature regulation and ion concentration. a) Transfer of nutrients from the digestive system to wholly parts of the body. b) Transportation of oxygen from the lungs to all parts of a body. c) Transportation of carbon dioxide from all parts of the body to the lungs. d) Transportation of waste products from cells to the external environment, especially via the kidneys. e) Keeping an ongoing discussion of it is mechanisms with tissue fluids and keeping electrolyte balance. f) Defending the body against attack from foreign viruses through the white blood cells and antibodies. g) Shielding the body against injury or illness using the provocative response. h) Preventing serious hemorrhage by the clotting process. Blood has four main fundamentals to ensure it fulfills its functions, shown in Table 1.1 Table 1.1 (a): Major elements of Blood (Red blood cells, White blood cells, Platelets). Table 1.1(b): Major elements of Blood (Plasma). 1.1.2 WHITE BLOOD CELLS A white blood cell is superior to a red blood cell. White blood cell arrangement and concentration in the blood gives appreciated information and plays a crucial role in the diagnosis of different diseases. White blood cells fall into five categories: Neutrophil, Eosinophil, Basophil, Monocyte and Lymphocyte, shown in the Table 1.2. These cells afford the greatest defense against infections, and their discrete concentrations can help authorities to distinguish between the presences or not of severe pathologies. Types of blood cells are discussed in the following table Table 1.2 : White Blood Cells (Neutrophil, Eosinophil, Basophil, monocyte, lymphocyte) 1.1.3 TYPES OF LEUKEMIA Leukemia is a sickness of unidentified cause where the bone marrow produces huge numbers of irregular cells white blood cells that stop increasing before maturity. There are four main types of leukemia, namely Acute Lymphoblastic Leukemia (ALL), Acute Myeloid Leukemia (AML), which is used as a case study in the thesis, Chronic Lymphocytic Leukemia (CLL) and Chronic Myeloid Leukemia (CML). Most commonly, acute leukemia patients are discussed to specialist units for evaluation. Treatment is based on chemotherapy through the veins, lasting four to six months, which also kills normal body cells. Leukemia can be identified by blood tests while a bone marrow test assists to choose on the best choice of treatment. Table 1.3 includes the types of main leukemia. Table 1.3 : Types of Leukemia Table below shows the UK Leukemia case statistics for males and females in 2007, revealing that the survival rate has increased from 2001 to 2006. The diagnosis and the medical treatment have improved significantly as shown in Figure 2.1. Automated detecting can contribute to the early diagnosis of patients and survival rates are expected to increase in the future. Table 1.4: Leukemia cases in UK for 2007 Figure 1.1: Leukemia 10-year relative survival rates 1.1.4 FLOW CHART OF THE PEOPLE ADMITTED IN THE HOSPITAL Figure 1.2 shows the steps that are essential to be taken by a hematologist in order to identify a patient with acute leukemia. Table 1.5 provides a more thorough explanation of the individual steps in Figure 1.2 NO YES NOYES Table 1.5 : Analytical description of each step in Figure 1.2

Jane Eyre :: essays research papers

Jane Eyre is the main character in the novel Jane Eyre, written by Charlotte Bronte. She is a fictional character along with the book. The book takes place in the mid 1800’s. Jane lives in five different places which greatly affect her life. The first place Jane stays is Gateshead Hall. She then goes to live at Lowood School. From Lowood Jane proceeds on to Thornfield Hall. She then advances on to Moor House. Finally, Jane reaches her final home at Ferndean. All of this happens within two decades and the novel is told in first person, which is Jane Eyre. The first place Jane stays is Gateshead Hall. While at Gateshead, Jane is treated unfairly and is punished for things she did not do. After the death of Jane’s parents, her uncle, Mr. Reed brought Jane into his house. On her uncle’s deathbed Mrs. Reed promises to treat Jane like one of her own children. Jane’s aunt, Mrs. Reed, does not like Jane and has a very hard time doing this. She feels Jane was forced upon her family after the death of her parents. Against her husband’s request, Mrs. Reed does not treat Jane like a human being and is constantly criticizing and punishing her. In one example Jane was keeping to herself, reading a book when her cousin John Reed decided to annoy her. John then grabbed the book and threw it at her knocking her down and cutting her on the head, which bled and was very painful. Mrs. Reed then punished Jane by sending her into the red room, the room her uncle died in, for the entire night. While in the red room Jane became terri fied and thought she saw or heard the flapping of wings. The treatment Jane received caused her to become bitter and to truly dislike Mrs. Reed. Jane then goes on to live at Lowood School. While at Lowood Jane meets a young girl named Helen Burns. Helen taught Jane many things about life and religion. Jane recalls a time when Helen was scolded for not cleaning her nails or washing her face. Mrs. Scatherd, throwing out the fact that the water was frozen proceeded to punish Helen by smacking her on the back of the neck with a bundle of twigs. Jane is amazed at Helen’s ability to accept the punishment, eventhough it was not Helen’s fault.

A Comparison of Two Types of Treatment for Alcoholism Essay -- Biology

A Comparison of Two Types of Treatment for Alcoholism One of the largest debates in the study of alcoholism is the etiology of the disorder. The prevailing theory today seems to be that alcoholism is a disease, a biological affliction that can only be ameliorated by abstinence or medication. However, there are those who believe alcoholism has its roots in environmental influences and that the disorder is a maladaptive pattern of behavior. The two main methods currently employed for treating alcoholism reflect the foundations of the two main theories. Perhaps the most widely known method is the "Twelve Step" program created by the founders of Alcoholics Anonymous (AA) (1). Underlying this process is the belief that alcoholism is a biological disease that can never be cured, nor can it even be hindered without the use of external forces(2).. Members of AA are required to admit that they are powerless to fight alcoholism and need to relinquish control to a "power greater than ourselves." (3).This power can take any form for the adherents to the program, yet there is repeated mention of God and other aspects of Christian spirituality(4). More relevant to the topic at hand is the belief that alcoholism is a biological disease, which can be inferred from the acknowledgement that help with alcoholism can only come from God. This implies that alcoholism is out of one's own hands and thus should not be considered a "character flaw" or an aspect of personality; it also implies that alcoholism is something more intrinsic to the individual. In fact, the Big Book, the handbook of AA, states that alcoholism is a medical disease. (5).. Indeed, there is a substantial amount of evidence to support this assertion; this is based on tre... ...h in U.S./Canada http://www.alcoholics-anonymous.org/em24dc14.html 2)The Twelve Steps of Alcoholics Anonymous http://www.alcoholics-anonymous.org/em24doc6.html 3)A Newcomer Asks http://www.alcoholics-anonymous.org/ep24doc1.html 4)The 12 Step Cafà © http://www.12steps.org/Brochure/12step/STEPS/STEP1.htm 5)The Doctor's Opinion http://www.recovery.org/aa/bigbook/ww/doctors_opinion.html 6)Neuroscience Research and Medications Development http://www.niaaa.nih.gov/please-note.htm 7)Alcoholism http://www.noah.cuny.edu/wellconn/alcoholism.html 8)Animal Models in Alcohol Research http://www.niaaa.nih.gov/please-note.htm 9)Children of Alcoholics: Are They Different? http://www.niaaa.nih.gov/please-note.htm 10)The Genetics of Alcoholism http://www.niaaa.nih.gov/ 11)Treatment of Alcoholism http://www.mentalhealth.com/mag1/p5h-al10.html

Biography of Alexander Hamilton Essay -- Hamilton Founding Father Bio

Biography of Alexander Hamilton Summary Alexander Hamilton was most likely born on January 11, 1757, although the exact year of his birth is unknown. Hamilton was born on the Caribbean island of Nevis or St. Kitts to Rachel Fawcett and James Hamilton, but he spent the majority of his youth on the island of St. Croix. His formal education as a child was minimal. When his mother died in 1768, Hamilton took his first job as a clerk in the offices of merchant Nicholas Cruger, keeping Cruger's business records, and coordinating business efforts between the merchant ship captains, government officials, and planters. Cruger and a local Presbyterian minister, Reverend Hugh Knox, recognized Hamilton's genius and persuaded him to leave St. Croix for New York City. Alexander left the island in 1772, never to return again. In New York, Hamilton attended several preparatory academies and schools to prepare himself for college. He interviewed with John Witherspoon of the College of New Jersey, which is now known as Princeton, but eventually enrolled in King's College, which is now known as Columbia. In 1776, Hamilton withdrew from King's College and joined a local New York militia to fight in the American Revolution against the British. During his first year of service, Hamilton served as an artill... ...entirely out of the political world after his resignation, but his involvement in politics after the late 1790s did his cause more harm than good. In the election of 1800, for example, Hamilton inadvertently split the Federalist Party to allow his rival, Thomas Jefferson, to become President of the United States. In 1804, Hamilton wrote a series of essays against another rival, Aaron Burr that was partly responsible for Burr's loss in that year's New York gubernatorial race. Burr blamed Hamilton for his loss and challenged Hamilton to a duel in which he shot Hamilton. Hamilton died the next day on July 11, 1804, at the age of forty-seven.

Me Talk Pretty One Day Essay

Me Talk Pretty One Day. The title already starts questions and as you get through the essay, it makes perfect sense and creates a meaning to the title. Sedaris is the narrator throughout the essay and nearly at the beginning of the story you finds his tone throughout the essay is kind of a depressed tone, it sounds like he is depressed and put down by the instructor of his french course. Sedaris is passionate in leaning French. He moves to France and starts school there, so that he would learn the language better than he could in America. On his first day Sedaris watches his fellow students catch up with each other, discussing their summer vacations and the latest news about mutual friends. He has a number of first impressions: they appear much younger (he is now forty-one years old), they are definitely much more attractive, and they all appear to speak French flawlessly. Sedaris soon feels a little out of his element, until his French teacher arrives and makes him feel like a complete imbecile. However, Sedaris is not alone in being belittled by his instructor for she did not just pick on him but the rest of the class. However, he still went home every night and studied everything so that he could go to class the next day and know just a little more so the teacher wouldn’t pick on him as much. You find the depressed tone again during class, that everyone wanted to be there but at the same time didn’t want to be there. The teacher rode on a high horse because she didn’t speak only fluent French but 4 other languages too, including English, which she shows to Sedaris by saying in English â€Å"I hate you, I really hate you. (Found on page 3, last paragraph) Now why in her right mind does the teacher feel the need to put everyone down, and to say something of this nature stating that she hates him. Why is that, is it because she herself has troubles in her life and she feels in her time of power of being the professor of a French course and the only one that can speak it fluently, that she can emasculate everyone in the class. But through all of that all of the students including Sedaris, go home every night and study their French for hours on end, an example of it is stated on page 14, 1st paragraph. â€Å"I took to spending 4 hours a night on my homework, putting in even more time when we were assigned an essay. † Because of that the tone suddenly switches from a depressed tone to an upbeat tone right towards the end of the essay when Sedaris states, â€Å"Understanding doesn’t mean that you can suddenly speak the language. Far from it. It’s a small step, nothing more, yet it’s rewards are intoxicating and deceptive. The teacher continued her diatribe and I settled back, bathing in the subtle beauty of each new curse and insult. † From that moment, the professor goes on to belittle Sedaris but this time he isn’t hurt or insulted by it. He takes from it and with confidence replies to her insults with, â€Å"I know the thing that you speak exact now. Talk me more, you, plus, please, plus. Leaving you with a feeling of happiness and joy knowing that Sedaris gained his confidence back. From the tone of the essay, it makes everything feel a lot better in the end. The use of the â€Å"French† in the essay, gives meaning to the times where you dont understand what the counterpart is saying applying the use of words that doesn’t exist creates a confusion but also an understantment of how Sedaris feels when the teacher is talking to him. Here you can see the words meimslsxp; lgpdmurct; apzkiubjxow; palicmkrexis; fiuscrzsa; ticiwelmun; kfdtinvfm; vkkdyo; kdeynfulh. Understanding and speaking do not automatically go hand in hand, but it is better to understand rather than to speak. Which is the point the author is trying to make through the entire selection.. David Sedaris takes a stroll down memory lane in his anecdote about his experience learning to speak French in Paris, under the rule of a cruel dictator-like teacher. He describes certain moments of intense cruelty of the teacher, such as when one girl in his class doesn’t know the correct irregular past tense of the verb to defeat. The girl was poked in the eye with a freshly sharpened pencil, and the teacher, although remorseful, did not spend much time apologizing. The students in the class are not fluent in French, and their halting sentences, when translated, sound like â€Å"sometime me cry alone at night†¦that be common for I, also, but be more strong, you. † This is the exact way that a student of a foreign language would speak, and it illuminates the difference between speaking a language so that others could possibly understand you, and understanding the language.

Census Tract 78.09

Census Tract 78. 09 In the middle of the Pacific Ocean lays the biggest chain of islands, the Hawaiian Islands, and on the Island of Oahu within census tract number 78. 07 (figure 1) is my home. This tract is in the southern part of the island and its east boundary is Aiea. This tract is also between two main roads: on the north there is the H-1 freeway, and from the south Moanalua Rd. , which is also bordered with Pearl Ridge Shopping Center. This tract, even though it may not seem like it, is somehow in the middle of the island. It is located off the freeway which makes it convenient to reach other parts of the island. It is about a fifteen minute drive to down town, Waikiki, Kaneohe (east side), and Waipahu. A 25-30 minute drive will bring you to the North Shore or Ko Olina, which is located on the western end of the island. This tract appears to be a high-order central place that includes one of the four major malls on the island. In addition, Straub Clinic & Hospital is less than a mile away, and there are many restaurants, car repair shops, gas stations and schools nearby. The residents of this tract and other tracts nearby can find answers to almost all their needs and wants at a walking distance. With the help of the U. S. Census Bureau I am able to analyze and understand better the nature and characteristics of this tract. Census tract number 78. 07 is more than just a street and road map; it is a map that states the boundaries of different social demographic and economic components. With the updated information and data the U. S Census Bureau provides and with the field survey I have performed, I am able to analyze and describe the environment and people I live around. In this tract there are 5,351 people and the number of males and females is relatively even with 47. 1% female and 52. % male. The majority of people are between the ages of 25-44: 23% are 25 to 34 years old and 20. 5% are 35 to 44 years old, which makes a total of 2,309 people at this age group. It is obvious this area is home to younger adults with children than older people (the median age is 34. 5). There are 304 children under the age of 5 (5. 7%) while there are only 132 who are 75 years old and older. Indeed, when walking around the area you notice more young children with their parents, or groups of teenagers, than people in their older years. It seems that this tract is more appealing for younger families (45. % are married compared to 12. 9% who are divorced) with children under the age of 18 (490), than a household with individuals 65 years and over (96). Big portions of the people in this tract (4,562) are 16 and over, which makes them eligible to hold a job and become part of the labor force. 79. 5% of this group is part of the labor force. Within this number, 4. 5% are unemployed (204 people), and 10. 8% are in the armed forces. Women over sixteen represent almost half of the total population with 2,145 in number. The female labor force is smaller with only 72. 8% participant, and only 63% employed. With today’s economic rollercoaster these numbers are relatively very good. The data on the average income supports and corresponds to the information mentioned above. 63% of working people are private wage and salary workers mainly in the management, professional, and other related occupational fields (34. 8%) or in sales and office occupations (32. 7%). Since this area is urban, there are only a few (only 5 people) who practice farming, fishing, or forestry occupations. In deed most of the people I meet in the elevator or see in that area are dressed up with suits, briefcases, and laptops on their shoulders. As for 1999, the median income for households was $41, 696 when 22. 1% earned $50,000 to $74,999, 18. 6% made $35,000 to $49,999, and only 5. 6% made less than $10,000 a year. According to the make, model, and shape of cars and the people’s appearances, those numbers seem to be fairly accurate. Income and employment rates are often times an indicator of the educational level and number of graduate and degree holders. In this tract the percentage of educated people is quite high. Out off all children age of 3-4 years 52. 6% are enrolled in school, in the 5 to 14 years group 95. % are in school, and more encouraging information is that all kids ages 15-17 years are attending school. The busy traffic and crowded sidewalks with kids and their parents around eight in the morning and between 2:00-3:00 p. m. is living proof of accurate statistics. Out of the 613 people between the ages of 18-24 there are 520 (84. 8%) high school graduates and 191 who are enrolled in college or gradua te school. The overall education of that section is somehow similar to the number of the younger generation. 90. 5% of people over 25 have graduated from high school or higher, and 31. % hold a bachelor degrees or higher. Most people in this tract hold American citizenships (81. 9%) and the rest are mainly from Asia. 43. 1% of those with American citizenships were born in Hawaii, 34. 9% were born in the continental United States, and 3. 8% were born outside of the US in Porto Rico, US Island areas and born abroad to American parents. The majority of the foreign born population is from Asia (86. 7%), especially from Eastern and South Eastern Asia. From Eastern Asia (58. 8%) there are mainly 7. 1%from China, 11. 2%from Japan and 40. 5% from Korea. South Eastern Asia (26. %): 22. 1% from the Philippines, 3% from Vietnam, and 1. 8% from Thailand. This information appears to be correct. Even though it is sometimes hard to distinguish where a person is from, it is obvious they are somewhe re from Asia. The rest of the foreign born people are from different countries from around the world, but they represent a smaller number, and are barely noticeable. On the other hand there are only 252 (4. 7%) who are native Hawaiian or from other South Pacific islands. Surprising information indicates that there are 7. 9% Hispanic or Latino people. I have been living in this area for about a year now, and have worked here for over three years, and I do not recall recognizing or interacting with Hispanic or Latino people. All the White, Asian, Hawaiian, Latino, and any other race seem to live together in harmony. There are no visual signs (like graffiti or fights) of any cultural or race issues. When walking in my neighborhood taking my dog for a walk, I often times notice couples that are not from the same ethnic background. The same observation is true for the groups of kids hanging out in parks, the mall, and the bus stations. Hawaii in general is a huge collection of cultures, ethnicities and religions. While sometimes local people like to make fun of â€Å"white† people, they are a welcoming society who accepts cultural differences with open hearts. I can say from my own experience that whenever my neighbors or other people nearby hear that I am from Israel, they show no sign of rejection, but of acceptance. I believe that this attitude among people is what helps the crime level. We are no different than other places in the world; we have our own casualties and problems. Every once in a while I hear about a car that was broken into or stolen, or I hear about suspicious rumors of drug dealing going on in the area. But the overall feeling is that this is a considerably safe, low crime area (especially compared to other areas on Oahu). This tract may seem small, but it is in the center of Aiea. There are two elementary schools within walking distance and few more located less than a mile away. The mall is just a cross the street which provides a variety of stores, services (banking, medical, post office, etc. ) and restaurants. Even though it appears to by a busy urban locale, the people in this area do not neglect their religious practices. There are four different churches in less than a half mile radius of that tract. I am usually not awake and outside on Sunday mornings, but every once in a while my shift starts early and I get to watch my community on their way to the different churches. Due to the area the tract is located in, one would expect to see a concentration of high rise buildings. This tract is no exception, there are high rise buildings but at the same time there are also low rise units. This tract is a combination of high rise building (like the one I live in) and some town houses on the other side of the road. This gives people the ability to live in an urban area with the opportunity to choose to live in a smaller more affordable apartment, or in a bigger more suburban style home, all within the city. 87. 7% of the units are in 20 or more units structure, 5. 1 in 5-9 units per structure, and 4% 3-4 units in a structure. Most of the units were built more than thirty years ago. 59. 3% were built in the seventies and the majority of the rest in the eighties. The data may indicate that the buildings in the area are quite old, but have been well taken care of. As part of the board of directors of my building, I know that the residents and the association are doing a good job to maintain our property, and make it look as new and as attractive as they can. The outside of the units in the tract are always clean and painted. Each association has its own landscaping that contributes to the warm friendly environment of the neighborhood. At Christmas time, the entire track is glowing with Christmas lights and colorful decorations. Out of the 2,666 occupied units, more than half (64. 3%) are renters and are usually a one person household (43%). It seems like the renters are younger people (36% are between the ages of 25-34), perhaps students, people at their beginning of their careers, or soldiers. The location of the tract is centralized to military bases. On the east end is Marine Corps Base Hawaii which is about 18 miles away. On northwest end is Schofield Barracks with a 13 mile distance, and on the south end there are Pearl Harbor Navel Station and Hickam Air Force Base about 5 miles away. There are a few smaller military facilities that are even closer to the tract. Many people who are part of the armed forces find this location very convenient. More so, most roads in that area are not as congested as other main roads in other parts of the island (H-1 for example). Even in rush hour traffic there is no heavy traffic unless there is an unusual event (car accidents, event in the stadium, etc. ), cars are moving smoothly and traffic in general is open. Over the past year I have attended Windward Community College, which is on the other side of the island (about 14 miles from my house). I leave for school at 7:45 A. M. and come back at 3:00 P. M and I experience no typical rush hour bumper to bumper traffic. In general, it is easy to navigate in and out of the tract. According to the U. S. Census Bureau, the average gross rent is between $500-$1500 when the majority 50. 7% falls in $750-&999 ranges. This may have been accurate for 2000, but it is undoubtedly not the price range today in 2009. A two bedroom one bathroom apartment in my building can start from $1400 a month. Other data that in my opinion does not match today is the occupants per room. In 2000, both renters and owner occupied units was mostly between 0. 5-1 per room. With increasing rent and decreasing resources, like the situation in the past year, people cannot afford to splurge and enjoy the connivance of each having his/her own room. More and more I hear about families moving in together, young couples seeking for a roommate to help with the monthly payment, and single parents looking for one bedroom for them and their child. It is obvious from the information above that census tract number 78. 07 is located in a central urban area. It is a mix of cultures, people of different races and ages. Although the data suggests that the population is relatively young, there are still many older people who probably moved to this area many years ago when it was not as developed and commercialized as it is now. When it comes to analyzing an island, it is a bit more difficult than if analyzing a state on the mainland. On Oahu there is the main and only city Honolulu, and the other areas are considered to be more like a town due to its size and number of people. If Hawaii was just like any other state, Aiea which is where the tract is will be considered a city. Other than Waikiki, there is no other area on the island that provides as many services and goods as Aiea do. The tract is being transformed into a more modern area that in few years from now will contain mostly young small families and individuals who want to live in a more centralized location. This area may not offer new luxurious homes, but it will offer the fast paced and energetic life style a city creates.

Kafka on the Shore Essay

Commentary on Kafka On The Shore Childhood is an important part in each and every one of our lives. It has a huge impact on our character, personality and even sociability as we grow up. Some of us who come from good, stable family backgrounds would have pleasant memories from our childhood while some others who faced the cruelty of life at a young age would hate to even think of their childhood. In this excerpt from Kafka on The Shore by Haruki Murakami, the author writes about a 15-year old Kafka’s childhood. It shows the kind of relationship the boy shared with his father and his personality. I will be writing about how language is used in this excerpt to tell us about the boy and his childhood. The author uses imagery in this excerpt. For example he says ‘My sister’s looking off to one side so half her face is in shadow’. This gives a mysterious feel to the sister and tells us that she probably was a significant figure to the boy. Furthermore he writes, ‘hers a floral-print one-piece, mine a baggy old blue trunks’. The author describes the sister such that she seems better dressed and better looking than Kafka. It suggests that he looks up to his sister and thinks highly of her. It also shows the love that he has for his sister as he decides to take that picture along with him. He also mentions that he is ‘staring straight ahead, undaunted’ in the picture. He then asks himself ‘how could I have looked so happy’ referring to the same picture. By considering him to be happy in the picture; it shows the extent of unhappiness he has with his family and life at the moment. Kafka started planning for his run away from home since his junior high years. He took steps in order to prepare for it by practicing judo and training in the gym from that time itself. This shows how clear he was about his decision to run away from home. He knew exactly what he wanted to do and was very certain about it and also worked towards it. Thus Kafka is an emotionally strong person. Despite having family problems at such a young age, he did not go into depression but rather took action to fight against it. In the ninth paragraph, Kafka says that he barely talks to anyone, ‘other than the bare minimum required to get by at school-I barely talk to anyone’. This shows his preference to be in solitude. It could be due to the fact that he grew up alone with his father and didn’t spend much time with his father either. He also says that he didn’t join any school teams. This is to avoid attention from others and to keep a low-profile. His preference to have a low profile could be due to low self-esteem and a lack of confidence. The excerpt tells us that he takes an old gold lighter when he leaves home because ‘I like the design and feel of it’. This shows that he takes comfort and even reassurance in an object, which he can trust no matter what as it couldn’t hurt him emotionally. It reflects the insecurity in the boy. Kafka also says, ‘I’ve built a wall around me, never letting anybody inside and trying not to venture out myself’. This further is proof to show his preference to be left alone and by not letting anyone become close to him also the insecurity that he has. He is afraid that if he lets anyone through his wall, he would only get hurt and be let down by them. Since young he grew up alone dealing with the separation of his mother and father. This could have lead to his insecurity along with all the other hardships he went through. In conclusion, from the excerpt u can tell that Kafka is a matured 15-year old that has gone through emotional hardships due to the lack of attention from his dad and separated family. He is insecure and prefers to be left alone, like how he grew up alone without a proper family. You can also conclude that he and his father do not get along well with each other.

Columbia River Pulp Company Inc

CORP. received refinanced approval of its long term debt from Toronto – Dominion Bank (AD Bank) amounting to $200 million based on floating rate. The floating interest rate represents the significant risk that needs to be mitigated through hedging products. There were some hedging products that AD Bank offered to CORP., swaps, caps, or collars, or some combination? There were definite trade-offs between these hedging products In terms of flexibility, interest rate protection, and true cost. Andrew Theatre, Chairman of CORP., had to decide on the amounts and maturities of the various transaction hedging offered.Issue Business Kraft Market pulp Is a truly global commodity, which prices changing quickly In response to capacity changes, inventory levels, and purchase levels. While market alp is produced in about 25 countries, historically more than two-thirds of world output has come from five northern countries : the united States, Canada, Sweden, Finland, and Norway. One major c hange in the global pulp market was the mid – sass launch of pulp futures markets . While these markets were not an immediate success, there was enough trading volume to sustain at least market, the Pulped/ Finish Options Exchange.It was hoped that futures markets, widely used to trade futures in commodity products – such as copper, aluminum, sugar, and coffee – would bring more price stability to the pulp market and even out some of the extreme price fluctuations that have plagued the global market pulp Industry. Price levels for market pulp as shown below : In 1978, CORP. had financed the original cost of the mill from a group of united States insurance companies. The insurance companies was in doubt about the quality of their loans. This was because of the cumulative operating losses over the 1982 – 1986 period which totaling $ 39. 1 million.CORP. was unable to meet the repayment schedule on the debt. So, in march 1988, CORP. approached Toronto  œ Dominion Bank (AD Bank) to refinance $200 million of its long term debt. On July 21 , 1988 CORP. received reedit approval from AD Bank Board. CORP. received rationalization financing a $200 million, seven year reducing, revolving term facility and a $25 million operating facility from the syndicate of six international banks. The floating rate borrowing options and bank lending margins were shown below : The use of floating rate debt to finance fixed assets represents significant risks If the interest rates increased.The risk can be offset through interest rate swaps, caps, and collars. In order to partially engage ten Tolling rills rate on ten mans ten Dank syndicate had included a positive covenant in the credit agreement which effectively arced the company to lock in fixed rates of interest on its debt. This covenant stated the following : within 90 days after closing, the borrower will arrange interest rate swaps or similar hedging arrangements so that a total of $100 million of debt has a term of at least three years and an interest rate not to exceed 12%.

Conflict of Cultural Expectations

Social expectations are something every person faces. No matter one’s gender, ethnicity, or class, everyone feels pressure to behave a certain way, and I believe one of the most defining character traits is whether one chooses to conform to these social pressures or to pave his or her own path in life. Despite the existence of social norms in every culture, certain cultures hold these expectations in much higher regards than others, and breaking such social laws can have detrimental consequences.In Women of the Silk and Jasmine, we see numerous examples of societal expectations of women, as well as the different ways in which the women characters respond. This gives us insight into their individual strengths and weaknesses, specifically involving how they cope with the struggle between what they want and what is expected of them. In Women of the Silk, there is great significance placed on expectations of women, specifically in China circa 1920’s, including pressures to live a certain lifestyle and behave in an appropriate manner at all times.The differences between how women react to these pressures is first depicted by the contrast between Pei and her older sister Li. While from my modern American perspective Pei is clearly the stronger, more admirable of the two, this is quite opposite from the traditional Chinese perspective of the time. Li is a principal example of the ideal woman from the Chinese culture perspective. She is, by nature, a dutiful and submissive girl, who wishes to please others and stick to the status quo. This is evident throughout childhood, and continues as she gets older and is expected to marry.In contrast, Pei is curious by nature, always asking questions and seeking answers, despite being reprimanded frequently for doing so. Li’s passive nature and Pei’s bold, defiant manner are revealed throughout the novel, beginning with their childhood. For example, whenever the two girls play together, Pei is always t he one running ahead and then stopping to wait on her sister. Pei asks questions which Li calmly answers, and while Pei explores her surroundings, Li is content to sit still and quietly.One passage on page 19 of the text reads, â€Å"†¦Next to [Pei], she could hear Li’s even breathing and feel her calmness. Li’s hands rested quietly on her knees, while Pei’s felt the ground beside them for anything that would make the water splash. † This example depicts the dissimilarity between the two girls’ personalities and contrasts Pei’s curiosity with Li’s contentment. This difference between the sisters is significant in that it is the factor that ultimately dictates which of them their father, Pao, will decide to send to work in the silk factory.After visiting a fortune teller, who predicts that Li will get married but is unsure of Pei’s fate, Pao decides that Pei is better suited to work at the factory, as there is no guarantee of being able to marry her off and lighten the family’s financial burden. Consequently, Pei’s life is set in motion on an unusual path, and one that certainly does not conform to the standards and expectations of women at the time. Li’s subservient nature is further proven later in the novel, when she marries a much older farmer simply because she thinks it is what is expected of her.While her father does not force her to marry the farmer, she does anyway because it is what she is â€Å"supposed† to do, and she assumes it will please her family. Likewise, she still does not go back to her family when she finds out that her new husband is violent and abusive, as women are expected to be loyal to their husbands no matter what. Although this trait of being passive and obedient is considered to be a positive attribute within her culture, it is one that seems to come at a much larger price than it is worth.While Pei may not be overjoyed to be sent to the facto ry, I would consider her fate far less tragic than that of Li’s marriage to the farmer. Just as Li’s compliance stays with her as she matures out of childhood, so does Pei’s curiosity. At the silk factory, Pei asks questions primarily to Lin, who answers them with a kind of patience and willingness that Pei is not accustomed to. Pei’s impulsive nature is exposed once again when she decides, on a whim, that she wants to go through the hair dressing ceremony with Lin.Pei and Li’s mother, Yu-sung, grew up in a family that allowed her to forego social expectations for women and instead encouraged her lively spirit and curiosity. However, when she marries, she faces much heavier social pressure to become quiet and submissive. Rather than refusing to conform to these expectations, she adapts to the fullest extent. Now, as we see by her obedience to Pao, her entire disposition has changed drastically since her childhood. Yu-sung never states her thoughts if they conflict with those of her husband.For example, although she does not necessarily agree that Pei should be sent to work, she would never utter a single word of protest, especially to Pao. While in our culture it is expected that a married couple make important decisions together, Yu-sung does not get involved in any critical family decisions throughout the novel, no matter how strongly she feels. This isn’t to say she is apathetic by any means, as it is revealed upon Pei’s return how much she truly cares.However, it does show the high priority she places on fulfilling her roles as a woman and a wife properly and in the way anticipated of her. Another example of a character that, like Pei, refuses to conform to social norms and expectations is Auntie Yee’s daughter, Chen Ling. Chen Ling is portrayed as a charismatic leader among the girls at the silk factory, and it is made evident that she lives according to her own expectations of herself rather than pr essure she feels from others and/or society in general.For example, Chen Ling is the first to decide to go through a hair dressing ceremony, clearly showing that she likes to pave her own path in life rather than taking a trail someone else has already paved. For this reason, although Chen Ling is not a particularly sociable character, she captures my respect and admiration throughout the novel. The intensity of the pressure placed on women in this culture is difficult to comprehend in this day and age. However, the character in the novel that helps me develop a better understanding of the true force behind these pressures is Mei-li.Mei-li faces her family’s expectation of her to marry the man they chose for her, whether love exists between the two or not. She also faces society’s expectations, which dictate that sex outside of marriage is inexcusable. All of the stress and weight of these pressures are what ultimately drive Mei-li to commit suicide. In this instance, it seems to me that Mei-li’s actions are less representative of her own character, but rather say more about the society as a whole.Her suicide calls attention to the injustice in the existence of such extreme pressure and inequality that is capable of causing someone to end their own life. In Jasmine, the main character, Jasmine, shows characteristics of both strength and weakness. The expectations she faces are somewhat different between the Indian background she comes from and the American culture circa 1980’s in which she becomes immersed, and she handles them in different ways as well. The first time we see Jasmine refusing to follow the â€Å"gender rules† of society is when she kills Half Face in chapter 17 of the novel.She mentions that this is not her first time being raped; it has happened on many other accounts before. However, this time, rather than act in a submissive manner again as one would expect of an Indian woman, especially one so badly frigh tened, Jasmine loses control of her calm facade and brutally kills her rapist, referred to as Half Face. The second instance I notice in which Jasmine is nonconforming in regards to social norms is when she stays at the house of the Vadhera family.Rather than keeping her thoughts to herself, she takes matters into her own hands and is open about being unhappy there, which ultimately leads to her moving to New York. If she had not made anyone else aware of her depressed feelings, Jasmine would have stayed true to her role as a traditional Indian woman, at the expense of her true hopes and dreams. In contrast to these examples and to what we had learned throughout the book of Jasmine’s somewhat rebellious nature, one might argue that she â€Å"settles† when moves to Iowa and stays with Bud.Although she is not in love with Bud, she stays at first because he is good to her and because she feels pity for him. However, when Taylor shows up to bring her back with him, Jasmine ’s true colors shine through again, as she is unwilling to refuse herself happiness to convenience others or satisfy their expectations of her. While it may be mistaken as selfishness that leads her to behave this way, I think of it more as a strength. Jasmine is able to claim her own life by refusing to conform to the social expectations of her Indian culture or of American ulture. While characters from these two novels approach societal expectations in different manners, I think the same is true in every culture. There will always be a large contrast between those who go after what they want and refuse to be deterred by social pressure versus those who would rather fold to authority and please everyone around them. While there are assets to be found in both types of women, it is the â€Å"Chen Ling’s† and â€Å"Jasmine’s† that the world seems to remember and adore.Everyone has fears, and when we see someone able to throw fear to the wind and beha ve as they wish rather than as they believe they should, it is hard not to admire that person. From my perspective, people like Jasmine, Pei, and Chen Ling, who chase happiness and refuse to abide by social dictations, should not be ashamed in the least. Rather, those such as Li and Yu-sung, who conform to their roles so completely that they deny themselves of happiness in the process, need to learn their self-worth and realize that they are smart and capable of thinking for themselves.

Avianca Essay Example | Topics and Well Written Essays - 3000 words

Avianca - Essay Example It now invests in latest technology to serve the customers better both in services and prices. Its Vision for 2010 is to be the Leading Airline of America. Avianca, the airline of Colombo, was the first airline to be founded in the American continent and the second one in the world, and started as Sociedad Colombo-Alemana de Transporte Aà ©reo, SCADTA on 5th December 1919. It performed its first flight between Barranquilla and the nearby town of Puerto Colombia, aboard a Junker F-13, which also carried 57 letters (Avianca.com). It started operating on international routes by mid 1920s and initially covered destinations in Venezuela and the United States. On 14th June 1940 it was renamed as Avianca. Since then airline has contributed to the construction and development of Columbia. Avianca was a stable and dependable airline and had a steady growth until the late 1990s. This paper will discuss the reasons that led to the decline, instability and losses, and how the airline fought itself back to the current position. Over the years, Avianca expanded its route to include South America, Central America, the United States, the Caribbean, Mexico, and parts of Europe. Its fleet included Boeing 757, and Boeing 767, MD-83, Fokker 50. In 1994, a strategic alliance was established between three most important enterprises of the aeronautical sector of Colombia: Avianca, SAM (acronym of Sociedad Aeronà ¡utica de Medellà ­n), and Helicol (acronym of Helicà ³pteros Nacionales de Colombia). This merger offered specialized services in Cargo (Avianca Cargo) and mail (Postal Services), and had the most modern aircraft fleet in Latin America (Wikipedia. n.d.). In December 1998, Avianca opened its hub in Bogota to serve passengers in Columbia and the world. It allowed travelers to access near 6,000 weekly possible connections, and greater number of frequencies, schedules and destinations served. It also had code share agreements with Delta, Air Canada, Iberia,