Communication of Values and Ethics in Strategic Organizational Communication Essay

Starbucks organizational structure has been rearranged to better accommodate customer satisfaction. Schultz, CEO of Starbucks announced the expansion of their matrix organization structure. They will operate under four U. S. divisions: Western/Pacific, Southeast/Plains, Northeast/Atlantic and Northwest/Mountain (Schultz, 2008). There are some major advantages for this kind of organizational structure which include maximized communication channels. Once the appropriate adjustments are made, Schultz believes that Starbucks will be able to develop products specifically to market appeal. The continual support in the Starbucks organizational structure support functions operating being their own department and supporting shared visions and goals for each of the U. S. divisions and the international circuit (Schultz, 2008). In 1995, Starbucks opened its first coffee house internationally in Tokyo, Japan (Starbucks, 2008). Successful partnership allowed the company its footing inside foreign country. The large population and high disposable income from the consumers is what initially drawn the company and its executives to Japanese market. In adapting Japanese culture, extensive researches motivated Starbucks in changing their business model by catering to 40 year old businessmen and provide a smoking environment to enjoy their coffee. The Japanese locations included U. S. menus which the founder of the international segment for Starbucks ignored the advice stated previously. The complication of working in the East and West was understood by a Starbucks business partner, Sazaby. Japans’ attraction towards the kinds of products contributed to the understanding of the global market and leading Starbucks a success (Japan External Trade Organization, 2006). Unilever has another common organizational structure; the hybrid form. It operates with three divisional regions, two product segments, and five functional segments. It developed and implemented this organizational structure for their company to improve communication and to take advantage of resources that are available to them. This structure is typically organized in a top-down manner. It flows down to management once the executive level is satisfied with the structure. It is not always visible, however judging by actions and specified reporting protocol this structure is intact and in use. In equity based modes of entry involves managements decision to make foreign investments. This would require a partnership, collaboration, or alliance be made with another company or a distributor for a better grasp on the concept of the economy, culture, and climate in the new area. Exporting, subcontracting, and franchising could be with minimal cost to the company. Starbucks continues to stand behind their mission statement in all odds of the economy and publicly through public awareness. I read a story about Starbucks charging and not responding to sending the troops in Iraq coffee without charging them. Not every company can help everyone in need and there are times when they do have to say no for other obligations. Most companies already commit to donations to specific groups/organizations and have implemented that cost into their yearly/monthly/quarterly budget. However, there are some exceptions when it does exceed their denomination term. Starbucks Customer Relations organization handles these types of comments as best as they can satisfying all parties involved. The company retracted its answer in a formal public letter, (viewable for public) stating that â€Å"Starbucks has provided over 220,000 3-packs of Starbucks VIA to the USO for their care package program. † (Starbucks Newsroom) Starbucks are partnered with the American Red Cross and the United Service Organizations (USO) to provide coffee in efforts to relieve times of conflict, donating more than 141,000 lbs of coffee. Public relations are exceptional with the Starbucks Coffee Company. They have several outlets in communicating to them any questions or concerns and a hotline phone number to be contacted. The company responds within 24 hours most times and they answer all comments no matter how small or large and resolves conflicts as quickly as possible. Starbucks Mission: Our mission: to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time.

Managing Operational Activities to Achieve Business Results

London School of Science & Technology ASSESSMENT COVER SHEET – RESIT Unit Number and Title Assessment Title Course Title Assessment Code Hand Out Date Unit 15: Managing Business Activities to Achieve Results Managing Operational Activities to Achieve Business Results HND Business HND Bus-Unit 15/ MBAAR Feb 2013 RESIT 01st March 2013 Hand In Date 11th May 2013 Lecturer(s) Anup Bista Adrian Gauci Dhaneswar Chooramun Internal Verifier Jonathan Cartmell Course Notes / Slides / Activities / Handouts. 1.Recommended Learning Textbooks: BPP (2010) Management: Communication and Achieving Results – Business essentials – supporting HNC/HND and foundation degrees, BPP Learning Media: London Slack N. , (2007) Operations Management, 5th Edition, Financial Times: Prentice Hall Watson, G. and Gallagher, K (2005) Managing For Results, London: CIPD. 2. Recommended BMW Documentaries on Business Activities: CNBC Documentary – BMW Quality Processes http://www. youtube. com/wat ch? v=OPSCh3Ys_B8 National Geographic – Megafactories Doc BMW / Mini Quality http://www. outube. com/watch? v=kk98q1N4XXI 3. Recommended Learning Weblinks: www. bsieducation. org (British Standards Institution) http://www. bmwgroup. com (BMW Education) http://www. wincanton. co. uk (Supply Chain Management) www. times100. co. uk (Times Resources) http://www. quality-foundation. co. uk(UK Quality Foundation) http://www. efqm. org/ (EU Foundation Quality Management ) Sources of information To be filled by the student Student Name Student ID Lecturer Group(e. g. ) HND Bus-Unit 15/ MBAAR Feb 2013 RESIT 1|Page London School of Science & TechnologyAssessment Requirements †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ An electronic copy of your assessment must be fully uploaded by the deadline date and time. You must submit one single PDF or MS Office Word document. Any relevant images or screenshots must be included within the same M S Office Word or PDF document. The last version you upload will be the one that is marked. The file size must not exceed 20MB. Answer the criteria in order, clearly indicating the CRITERIA number. Ensure that all work has been proof-read and checked prior to submission.Ensure that the layout of your documents are in a professional format with font style Arial, font size 12 for the text, font 14 for sub heading and font 16 for main heading, line spacing 1. 5 and justified. Use the Harvard referencing system and provide references [e. g. (Smith, 2011)] within the text and an entry in a references list. Otherwise it will be considered as plagiarised work. Ensure that you back-up your work regularly and apply version control to your documents. Ensure that any file you upload is virus-free, not corrupted and not protected by a password otherwise they will be treated as a non-submission.You must NOT submit a paper copy or email of this assessment to any member of staff at LSST. Your work must be original with the appropriate referencing HND Bus-Unit 15/ MBAAR Feb 2013 RESIT 2|Page London School of Science & Technology WHAT TO DO: You are required to read the following scenario and attempt all tasks given in the table below by relating your response to the context of the given organisation in the scenario. CASE STUDY Imagine you are the Operations Manager at the BMW Headquarters in Munich.You have been asked by the Board of Directors to review the below business activities to improve the operations, quality and efficiency of a BMW manufacturing plant in the UK. Your review will be used by the Board of Directors to improve the operational activities such as BMW’s business functions, processes and quality standards to achieve better results in 2014. The review should be structured to cover areas of: TASK 1 – Business processes in delivering outcomes based upon business goals and objectives. TASK 2 – Plans for own areas of responsibility for managin g business activities.TASK 3 – Monitoring appropriate systems to improve organisational performance. TASK 4 – Managing health and safety in the workplace. Due to the continuous changing nature and complexity of managing business activities within an organisation, you are required to research, gather and present the appropriate information. This will include the use of management theories and practical examples applicable to BMW company. You are to present your responses in a detailed report format to fulfill each Pass Criteria with appropriate Harvard Referencing technique for the tasks below.Additional Information/Advice: A support textbook is also available for this Unit, which you may find helpful to explore theoretical knowledge and understanding. You may also access the following links to carry out your further research to support your responses with some practical examples in the context of BMW company. YouTube – Official International BMW Channel http://w ww. youtube. com/user/BMW CNBC Documentary – BMW Quality Processes http://www. youtube. com/watch? v=OPSCh3Ys_B8 National Geographic – BMW – Megafactories Series Documentary http://www. youtube. com/watch? =kk98q1N4XXI HND Bus-Unit 15/ MBAAR Feb 2013 RESIT 3|Page London School of Science & Technology PART A – PASS CRITERIA ONLY Pass In order to achieve Pass, students must achieve all the pass criteria below. TASK 1: Business processes in delivering outcomes based upon business goals and objectives. PASS CRITERIA 1. 1 (Approx. 150 words) Recommended interim deadline 9th March Describe briefly the importance of two core organisational functions and evaluate the interrelationship between these functions in managing business activities to achieve results in a company like BMW.Guidelines: In order to complete the above task, your answer should: †¢ Include a definition of what operations management is as a function. Identify the two most important function s for business operations at BMW. †¢ Establish the interrelationship between at least two chosen functions above and evaluate how each function operates, interacts and supports to each other in operation. †¢ Bear in mind, your response should relate to the given company BMW in the scenario. In answering this question, you will have covered the following assessment criterion: †¢ 1. Evaluate the interrelationship between the different processes and functions of the organisation. PASS CRITERIA 1. 2 (Approx. 150 words) Recommended interim deadline 15th March Explain the adopted economic system approach (i. e. input – output model) including transformation process within BMW and evaluate the effectiveness of the used forms of transformation process to achieve operational objectives. Guidelines: In order to complete the above task, your answer should: †¢ Provide evidence to demonstrate the adopted system approach such as input, output and method of transformatio n.Expand your thoughts into â€Å"the transformation process† of operations management including at least one example for each material, customer and information processing operations. †¢ Describe the effectiveness of the used forms of transformation processes to the context of the operation to map processes for achieving operational objectives. †¢ Bear in mind, your response should relate to the given company BMW in the scenario. In answering this question, you will have covered the following assessment criterion: 1. 2 Justify the methodology to be used to map processes to the organisation’s goals and objectives.PASS CRITERIA 1. 3 (Approx. 150 words) Recommended interim deadline 24th March Describe the role of quality gateways in mapping operational processes and evaluate how processes can be designed in order to achieve targeted output, using BMW as an example. Guidelines In order to complete the above task, your answer should: †¢ Include the meaning o f quality gateways and discuss its role in transformation process. †¢ Include the content of a ‘process map model’ in your response if required. HND Bus-Unit 15/ MBAAR Feb 2013 RESIT 4|Page London School of Science & Technology †¢ Evaluate how quality gateways will help to map the operational processes in order to achieve targeted output. Relate to the given company BMW in the scenario. In answering this question, you will have covered the following assessment criterion: 1. 3 Evaluate the output of the process and the quality gateways. TASK 2: Plans for own areas of responsibility for managing business activities. PASS CRITERIA 2. 1-2 (Approx. 150 words) Recommended interim deadline 11th April Briefly explain what you understand by setting up ‘SMART Objectives'. Write two SMART objectives that BMW should embrace to improve quality.Create one operational plan with five stages for one of the above SMART objectives by applying MBO or Planning Hierarchy and Planning Process Models. Guidelines In order to complete the above task, your answer should: †¢ Include at least two SMART objectives for BMW and explain why they are SMART. †¢ Review the concept of MBO again in setting your smart objectives to align people and other resources in an efficient and effective way. †¢ Your plan should promote collective goals and objectives by applying MBO or Planning Hierarchy and Planning Process Models.In answering this question, you will have covered the following assessment criterion: 2. 1 Design plans which promote goals and objectives for own area of responsibility. 2. 2 Write objectives, which are specific, measurable, achievable, realistic and time-based to align people and other resources in an effective and efficient way. PASS CRITERIA 2. 3 (Approx. 150 words) Recommended interim deadline 20th April Identify two appropriate systems and explain how they can be implemented effectively in order to achieve the set SMART objectives by meeting organisational standard of quality.Guidelines In order to complete the above task, your answer should: †¢ Include systems such as ‘accounting/finance system’, ‘management information system’, EDI, ERP, SCM, CRM, the quality system’, ‘CPA (Critical Path Analysis) and PERT (Project Evaluation & Review Techniques) etc. †¢ Consider at least two appropriate systems given above and explain their effectiveness to achieve the set objectives in most efficient way. †¢ Relate to the given company BMW in the scenario. In answering this question, you will have covered the following assessment criterion: 2. Implement appropriate systems to achieve objectives in the most efficient way, on time, to budget and meeting organisational standards of quality. HND Bus-Unit 15/ MBAAR Feb 2013 RESIT 5|Page London School of Science & Technology PASS CRITERIA 2. 4 (Approx. 150 words) Recommended interim deadline 23rd April Identify the Project P lanning model/tools and discuss how you utilise one of these techniques either (i) Project Evaluation & Review Techniques (PERT) or (ii) Critical Path Analysis (CPA) to monitor and control the entire project operation.Guidelines In order to complete the above task, your answer should: †¢ Include the aim of the project planning for managers and discuss the tools involved in project planning process applicable to BMW. †¢ Expand the response with brief explanation on how the planning tools such as Project Evaluation & Review Techniques (PERT) and Critical Path Analysis (CPA) can be used to monitor and control the entire project operation. †¢ Use a diagram for planning tools if necessary.In answering this question, you will have covered the following assessment criterion : 2. 4 Carry out work activities meeting the operational plan through effective monitoring and control. TASK 3: Monitoring appropriate systems to improve organisational performance. PASS CRITERIA 3. 1 (Ap prox. 150 words) Recommended interim deadline 29th April Explain what you understand by the concept of quality and analyse the implemented quality system in managing and monitoring quality standards within BMW.Guidelines In order to complete the above task, your answer should: †¢ Include a definition of quality and the role of quality concept to BMW. It is essential to recognise the various Quality Management System (QMS) such as Quality Circle, ISO 9000/EN29000 standards, Costs of Quality etc and assess the implication of these systems to the context of BMW. Pick two Quality Control systems at BMW as examples. In answering this question, you will have covered the following assessment criterion: 3. Design systems to manage and monitor quality standards specified by the organisation. PASS CRITERIA 3. 2-4 (Approx. 350 words) Recommended interim deadline 1st May Define the Total Quality Management (TQM) philosophy and explain how this philosophy can be used to increase quality and efficiency, and to reduce costs by creating a quality culture of improvement within BMW. Identify at least three required changes or improvements that you would suggest on the BMW quality system with your justification in order to create a sustainable quality culture for continuous improvement.Guidelines In order to complete the above task, your answer should: †¢ Explain the theory of TQM on how it helps to create a quality culture to ensure continuous monitoring, evaluation and development of the process within BMW. †¢ Support your view with some examples from BMW. †¢ Include reference to Business Process Re-engineering for the three required changes. In answering this question, you will have covered the following assessment criteria: HND Bus-Unit 15/ MBAAR Feb 2013 RESIT 6|Page London School of Science & Technology 3. Demonstrate a quality culture to ensure continuous monitoring, evaluation and development of the process. 3. 3 Recommend improvements which align wit h the organisation’s objectives / goals resulting in improvements. 3. 4 Report on the wider implications of proposed changes within the organisation. TASK 4: Managing health and safety in the workplace PASS CRITERIA 4. 1-2 (Approx. 200 words) Recommended interim deadline 10th May Investigate how three different Health and Safety Acts and Regulations have been implemented within BMW and explain why BMW needs to carry out risk assessment as required by the legislation.Guidelines In order to complete this task, your answer should: †¢ Show awareness and impact of relevant legislative requirements for the BMW. †¢ Identify relevant three legislative regulations and explain the impact of these on health and safety procedures within BMW. †¢ Consider how a risk assessment could be carried out and its impact on the organisation. In answering this question, you will have covered the following assessment criteria: 4. 1 Carry out risk assessments as required by legislation, regulation and organisational requirements ensuring appropriate action is taken. 4. Demonstrate that health and safety regulations and legislation applicable in specific work situations are correctly and effectively applied. PASS CRITERIA 4. 3-4 (Approx. 200 words) Recommended interim deadline 10th May Explain a procedure to identify hazards and risks in the organisation and discuss how this should be managed. Guidelines In order to complete this task, your answer should: †¢ Include a procedure to identify and assess hazards and risks in BMW, and show how this would be managed. †¢ Demonstrate that you can distinguish between a hazard [i. e. potential of harm] and a risk [i. . likelihood of harm caused by the hazard] within BMW. †¢ Support your response by producing two examples of hazards and risks at assembly line of BMW manufacturing plant in the UK. In answering this question, you will have covered the following assessment criteria: 4. 3 Carry out a systematic rev iew of organisational health and safety policies and procedures in order to ensure they are effective and compliant. 4. 4 Carry out practical application of health and safety policies and procedures in the workplace. – THE END – HND Bus-Unit 15/ MBAAR Feb 2013 RESIT 7|Page

Ethics Essay Example | Topics and Well Written Essays - 1500 words - 5

Ethics - Essay Example This paper evaluates the two approaches to defining â€Å"ethically bad life†: deontology and teleology. The paper examines each of the two approaches in detail and identifies which of the two can best be used to identify an â€Å"ethically bad life†. The tests the thesis that teleology and the end in question is always the most important thing but it must be done on the backdrop of absolute rules. Deontology The principle of deontology asserts that what is bad and what is good is definite and made up of universal laws which define what is right and what is wrong. The foremost philosopher who propounded the theory of deontology in modern ethics is Immanuel Kant. Kant argued that deontology is â€Å"a moral theory centered around the idea of unconditional duty-based commitment† (Cherkasova, 2012: 2). In other words, what is bad and what is good are absolute. This means that they are definite and they are stated clearly. Thus, an individual taking a decision must r eason and identify what is good and do it. Failure to do what is defined universally as good means an individual has done what is bad. The word deontology is derived from the Greek word â€Å"deon† which means â€Å"duty† (Morrison, 2009). ... Hence, an individual acting in a way and manner that affects a given set of rules has the obligation to identify what is required of him and do it according to the standard of the moral rules and codes. â€Å"Duty is the basic element of all moral actions†, the deontological school of thought assets (Johnstone, 2009: 3). The classical deontology school of thought bases its standard of deriving laws from divine authorities and other spiritual laws (Johnstone, 2009). Thus, what is bad is based on what authoritative religious sources state. Over the years, the deontological school of through grew to embrace nationalistic ethics and systems and today, national laws, moral ethics and international standards form the basis of the definition of â€Å"moral duties† in deontology. Corrigan and Farrell therefore identifies three main features of deontology as a tool for defining what as an ethically bad life (2012). They are: 1. Objectivity: This means that morality is based on u niversal and clear-cut rules and principles and an individual must choose the moral rule that applies in the situation. In this case, the sentiments and/or personal feelings of the individual do not matter. 2. Standardization: Morality sets a standard of what is right and what is wrong. And it applies equally to all people irrespective of their circumstances or situations and hence, what is bad is based on the ability to meet the standard required. Failure to reach the standard makes an act bad. 3. Reasoning: An individual must evaluate all his actions and reason to find what is good and what is bad and do what is good. This is done through critical evaluation of the action and activity (Carr, 2009). Teleology Teleology is an opposite to deontology

Chapter 4 Assignment Example | Topics and Well Written Essays - 250 words - 1

Chapter 4 - Assignment Example During the 1950s-1980s, Matsushita was able to make use of the post-war effects on the Japanese economy; most Japanese were grateful to receive job security at a time of uncertainty. As the Japanese economy expanded and the workforce grew older, suddenly employees had found the freedom to find a job to best suit their needs. This resulted in a shaky business environment from the point of view of Japanese business, but it greatly benefitted the average employee. 4. What is Matsushita trying to achieve with human resource changes it has announced? What are the impediments to successfully implementing these changes? What are the implications for Matsushita if (a) the changes are made quickly or (b) it takes years or even decades to fully implement the changes? Matsushita is trying to offer more options for its employees be being flexible in working conditions. The impediment to this change is an older generation set in its ways that refuses to either change or move on. If the changes are made quickly, older employees may quit in protest and the company may lose some of its most valuable assets. On the other hand, if it takes too long to implement the changes, Matsushita may grow at a slower pace than its competitors and lose significant market share. The Matsushita case shows that societal culture and business success are linked. Culture is always changing, so business needs to do the same. If a business remains the same for too long, productivity decreases and workers lose interest in their

Skill Application Evaluation Essay Example | Topics and Well Written Essays - 1000 words

Skill Application Evaluation - Essay Example The texts and phone calls always lead to disagreements with her. The messages have no significant meanings. Besides, anytime I humbly pass my positive intentions to her through the phone, I only receive negative odds; she misinterprets the intentions since she thinks that I am furious. I have chosen the activity to build a relationship by communicating supportively with my elder sister in order to heal our family relationship. I feel unreal associating positively with friends rather than my sister who is a family member. I am aware she does not intend to do anything to harm me. I am dedicated to give Kerry, my sister, a chance in my life. In addition, I intend to offer her an opportunity to be a sister who can listen and reason with me. Whenever our parents speak, they support and encourage us to be friends and solve our differences amicably. Consequently, our parents silence us to find lasting peace for us. Therefore, the activity I chose for building relationships by communicating supportively and engaging in supportive communication as problem-oriented and not person-oriented, assisted my sister and me, into knowing each other’s character and learning from one another. This skill application in problem solving has assisted me in gaining and learning human differences in terms of character and, hence building my relationships through effective supportive communication. When solving disagreements an individual experiences various problems. In settling conflicts between my sister and I, I experienced challenges from developments of different characters displayed by my sister, since most of the communication between my sister and I, were commanded and dictatorial. One of the characters was my sisters raised voice during the discussion period. Moreover, Life at home was unbearable between my elder sister and i. There were many miss-understandings on how we associate and interact daily. My daily experiences with her concentrated on arguments and

What makes software so important Essay Example | Topics and Well Written Essays - 500 words

What makes software so important - Essay Example This would therefore mean that each and every user will install different computer software in their personal computers. For instance, a household that has children and wants them to play computer games will most likely install software’s aimed at supporting the various games that these children want to play. It is also possible to uninstall software that is not needed, in exchange of software that a user needs. On this note, software’s are used to run computer programs that users want to benefit from. Apart from the personal use of computer softwares, business organizations also need these softwares for purposes of helping their organization function to the best level of standard. This is beneficial to me, because it helps me to acquire high quality services from these organizations. There are different types of softwares that a business organization can use. This depends on the nature of the organization itself, and the kind of business activity that the organization engages in (Bowser, 2012). Examples of computer softwares that business organizations will need to use are, database management softwares, point of sale softwares, content management softwares, etc. Take for instance, a school or a university institution. For this organization, computer software that has the capability of keeping students records is essential (Pressman, 2010). This will help the organization to maintain and keep track of present and past students belonging to the institution under consideration. For a departmental store, or a retailing unit, the point of sale software is essential for keeping track of all the transactions that occurs within the business establishment. The content management software on the other hand is helpful to the online marketers and this is because it can help them to manage the flow of information in their websites in an easy and efficient manner. Apart from the above mentioned softwares,

Do Contrast in the Long-term Financing and Ownership of Business Essay

Do Contrast in the Long-term Financing and Ownership of Business Explain National Differences in the Governance and Management of Firms, and Fundamentally Account for the Success of Major Economies - Essay Example In the paper, the case of KFC in the UK, US, Japan, and China will be compared and contrast in terms of the nature of ownership, governance, business strategy, corporate objectives, power/authority of management, nature of strategic decision-making, nature of decisions on building corporate capabilities, the long-term and short-term investment in technology, investment in plant and machinery in relation to productivity, and management of people. Eventually, a comparison will be made in the four countries’ degree of relationship between performance and finance systems, forces of convergence, and internationalization before and after 1990. Prior to a conclusion, the extent to which the crisis of 2008 has transformed the nature of the debate about the financial system and types of capitalism will be tackled in details. KFC was first established in the US and was eventually sold to PepsiCo back in 1986 and eventually became a subsidiary of YUM!. As part of its globalization strate gy, KFC entered the UK market via 60% franchised + 40% equity, Japan via the joint venture (JV) through the franchise with Mitsubishi Corporation (62%), and China through franchising. Since the Chinese government did not recognize the term â€Å"franchising† back in the 1990s, most of the first few KFC stores in China were company-owned. Governance is all about having the best and most legal and ethical system that can be used in directing or controlling the business. In most cases, corporate governance aims to regulate the corporate conduct by creating a balance between the internal and external stakeholders, the government, and the local communities. Aside from being able to fulfill the Board’s responsibilities to its shareholders, the top management of KFC strongly believes that the process of creating good corporate governance is one of the key factors that will make their business a success.

Assignment on Nursing home Essay Example | Topics and Well Written Essays - 750 words

Assignment on Nursing home - Essay Example Commonwealth Memory Care is the only facility that is associated with Memory Care in the Norfolk area and is wholly devoted to the care of those with Alzheimer’s, dementia and memory loss and situated conveniently close to three major medical campuses – Bayview Medical Center, Bon Secours De Paul Medical Center and Sentara Norfolk General Hospital, and many nearby medical offices. The interview with the administrator of the Commonwealth Memory Care at Norfolk was conducted at the at the same centre at Norfolk that is an assisted living community that offers Alzheimer’s care and is located in Norfolk, Virginia. The interviewee was Antonio Williams who serves as the administrator of the Commonwealth Memory Care at Norfolk where the people that are associated with the centre perceive him as a leader who has a practical approach to work and one who can be trusted. Antonio Williams has been described by the families of some of the clients that receive the services of this centre as on a person whose guidance had helped their spirits that were almost heartbroken to adopt a better attitude and made the families to have a chance to enjoy the time that they had with their relatives as dealing with this disease can be hard on the families (Haaf, 1997). He is a person that has special insight in the creation of an environment that is meant to be compassionate and understanding while being supportive of the residents who have to live with the Alzheimer’s disease and he has the ability to be compassionate with both the residents and their families encouraging them in words while always being a good role model to the staff by leading through examples. For the work that he does, Antonio was able to receive the highest honour for his work being the Diamond Award for Assisted Living Director of the Year that came from the Virginia Assisted Living Association which is normally meant to distinguish

Character biography Assignment Example | Topics and Well Written Essays - 500 words

Character biography - Assignment Example She thinks that she is like the sunflower, which is always sunny and optimistic. During Mary’s first day at school, she missed her mother so much that she decided to ditch, but her teacher found her along the way and took her back to the school. She cried when she was not allowed to go home, and Mary seldom cried. To pique her interest, the teacher gave her a painting book, which she loved dearest. Mary had her friends at school. There were three of them who were close. Jack, Mary, and Karlo were inseparable. Jack and Karlo would always fetch her from home and they would go to the movies together. Mary and Jack had a knack for romantic comedies, and Karlo would tag along and critique everything. One day, their friend Karlo did not go to school. During recess, they were called by the principal to tell them that their friend had been through an accident. He needed new organs, and there were no donors yet. After three days, the two wept together when they found out that their fri end had not survived. This was the second time that Mary had been broken. She was so sad that she did not eat most of the time. They would always visit Karlo’s grave and talk to him when they were sad. She was already in high school when her father was promoted as the editor-in-chief. They moved to a bigger house, one with a bigger garden.

Do you think our desire to create and solve puzzles is physiologically Essay

Do you think our desire to create and solve puzzles is physiologically determined, i.e., instinctual Culturally determined P - Essay Example To quote Danesi, solving puzzles is â€Å"An instinctual need to search out definite, reassuring, small-scale answers. ... Filling in the little squares with clear-cut answers seems, in its own minuscule way, to negate the existential emptiness that human beings unconsciously feel" (Romano). It is an innate knowledge that is within all of us that it only needs to be teased for our puzzle solving capability to come out (Infantry). In other words, puzzles are our attempt to find answers to our universe and the phenomena that surrounds us. We find it engaging because it is fun and amuses us that we usually respond when we are challenged by a puzzle. Since puzzles are within us and our ability to respond to the challenge of puzzles is instinctive, culture is not a factor to it because we have it regardless where we came from. It can be psychological in a way because our curiosity to solve puzzles is embedded in our psyche and all it takes for that capability to come is to be challenged or teased by a problem, be it a word riddle, an abstract problem or a mathematical problem. This natural ability of man to solve puzzle has served us well because through our natural inclination to solve puzzles led us to the discovery of many disciplines in arts and sciences that ranged from mathematics, economics, cognitive science, philosophy among others. From the problems posed by building the great pyramids of Egypt came the invention of the Pythagorean Theorem which in itself a riddle because it will allow us to solve the length of one of the lines once we know the other two lines. In modern times, our curiosity with how the market work is best explained by solving the various variables of how supply affects demand and vice versa. This inherent penchant for engaging in puzzles has also helped expand our horizon seeing worlds beyond us that extend to the realm of imagination as narrated by fictions and novels that keeps us hooked on what will happen next. We inadvertently lear n because we became so engrossed in the narration not noticing that we have been drawn to an entirely different universe. Indeed, our natural fascination with solving puzzles has benefited us in countless ways. Civilization and its accompanying technology may not be as what it is as we know today without the discoveries that was initiated by our curiosity to solve puzzles. My personal experience with puzzles My personal experience with puzzles used to be equally puzzling until I stumbled on Danesi in class who explained the reasons of our natural curiosity to solve things. I never thought of myself as a puzzle solver or really into it. But strangely, I noticed that I have not reneged any invitation to solve a puzzle. Once I started, I cannot even help but to be engaged with the challenge and do my best to solve it to the point that I lose track of time. The best example I can give is the Sudoko game which involves heavy mathematics. I thought I would never be interested with it know ing that math is not my forte but when a friend taught me the mechanics of the game, I cannot help but dabble myself into it, taking challenge after another until I got it. I progressed without even noticing it. I can remember that I got addicted to it that I used to spend the whole day solving Sudoku puzzles without even realizing how much time has lapsed. I also now understand why I am addicted to

Principles of Insurance Essay Example for Free

Principles of Insurance Essay 1. Principle of Uberrimae fidei (Utmost Good Faith) Principle of Uberrimae fidei (a Latin phrase), or in simple english words, the Principle of Utmost Good Faith, is a very basic and first primary principle of insurance. According to this principle, the insurance contract must be signed by both parties (i.e insurer and insured) in an absolute good faith or belief or trust. The person getting insured must willingly disclose and surrender to the insurer his complete true information regarding the subject matter of insurance. The insurers liability gets void (i.e legally revoked or cancelled) if any facts, about the subject matter of insurance are either omitted, hidden, falsified or presented in a wrong manner by the insured. The principle of Uberrimae fidei applies to all types of insurance contracts. 2. Principle of Insurable Interest The principle of insurable interest states that the person getting insured must have insurable interest in the object of insurance. A person has an insurable interest when the physical existence of the insured object gives him some gain but its non-existence will give him a loss. In simple words, the insured person must suffer some financial loss by the damage of the insured object. For example :- The owner of a taxicab has insurable interest in the taxicab because he is getting income from it. But, if he sells it, he will not have an insurable interest left in that taxicab. From above example, we can conclude that, ownership plays a very crucial role in evaluating insurable interest. Every person has an insurable interest in his own life. A merchant has insurable interest in his business of trading. Similarly, a creditor has insurable interest in his debtor. 3. Principle of Indemnity Indemnity means security, protection and compensation given against damage, loss or injury. According to the principle of indemnity, an insurance contract is signed only for getting protection against unpredicted financial losses arising due to future uncertainties. Insurance contract is not made for making profit else its sole purpose is to give compensation in case of any damage or loss. In an insurance contract, the amount of compensations paid is in proportion to the incurred losses. The amount of compensations is limited to the amount assured or the actual losses, whichever is less. The compensation must not be less or more than the actual damage. Compensation is not paid if the specified loss does not happen due to a particular reason during a specific time period. Thus, insurance is only for giving protection against losses and not for making profit. However, in case of life insurance, the principle of indemnity does not apply because the value of human life cannot be measured in terms of money. 4. Principle of Contribution Principle of Contribution is a corollary of the principle of indemnity. It applies to all contracts of indemnity, if the insured has taken out more than one policy on the same subject matter. According to this principle, the insured can claim the compensation only to the extent of actual loss either from all insurers or from any one insurer. If one insurer pays full compensation then that insurer can claim proportionate claim from the other insurers. For example :- Mr. John insures his property worth $ 100,000 with two insurers AIG Ltd. for $ 90,000 and MetLife Ltd. for $ 60,000. Johns actual property destroyed is worth $ 60,000, then Mr. John can claim the full loss of $ 60,000 either from AIG Ltd. or MetLife Ltd., or he can claim $ 36,000 from AIG Ltd. and $ 24,000 from Metlife Ltd. So, if the insured claims full amount of compensation from one insurer then he cannot claim the same compensation from other insurer and make a profit. Secondly, if one insurance company pays the full c ompensation then it can recover the proportionate contribution from the other insurance company. 5. Principle of Subrogation Subrogation means substituting one creditor for another. Principle of Subrogation is an extension and another corollary of the principle of indemnity. It also applies to all contracts of indemnity. According to the principle of subrogation, when the insured is compensated for the losses due to damage to his insured property, then the ownership right of such property shifts to the insurer. This principle is applicable only when the damaged property has any value after the event causing the damage. The insurer can benefit out of subrogation rights only to the extent of the amount he has paid to the insured as compensation. For example :- Mr. John insures his house for $ 1 million. The house is totally destroyed by the negligence of his neighbour Mr.Tom. The insurance company shall settle the claim of Mr. John for $ 1 million. At the same time, it can file a law suit against Mr.Tom for $ 1.2 million, the market value of the house. If insurance company wins the case and collects $ 1.2 mi llion from Mr. Tom, then the insurance company will retain $ 1 million (which it has already paid to Mr. John) plus other expenses such as court fees. The balance amount, if any will be given to Mr. John, the insured. 6. Principle of Loss Minimization According to the Principle of Loss Minimization, insured must always try his level best to minimize the loss of his insured property, in case of uncertain events like a fire outbreak or blast, etc. The insured must take all possible measures and necessary steps to control and reduce the losses in such a scenario. The insured must not neglect and behave irresponsibly during such events just because the property is insured. Hence it is a responsibility of the insured to protect his insured property and avoid further losses. For example :- Assume, Mr. Johns house is set on fire due to an electric short-circuit. In this tragic scenario, Mr. John must try his level best to stop fire by all possible means, like first calling nearest fire department office, asking neighbours for emergency fire extinguishers, etc. He must not remain inactive and watch his house burning hoping, Why should I worry? Ive insured my house. 7. Principle of Causa Proxima (Nearest Cause) Principle of Causa Proxima (a Latin phrase), or in simple english words, the Principle of Proximate (i.e Nearest) Cause, means when a loss is caused by more than one causes, the proximate or the nearest or the closest cause should be taken into consideration to decide the liability of the insurer. The principle states that to find out whether the insurer is liable for the loss or not, the proximate (closest) and not the remote (farest) must be looked into. For example :- A cargo ships base was punctured due to rats and so sea water entered and cargo was damaged. Here there are two causes for the damage of the cargo ship (i) The cargo ship getting punctured beacuse of rats, and (ii) The sea water entering ship through puncture. The risk of sea water is insured but the first cause is not. The nearest cause of damage is sea water which is insured and therefore the insurer must pay the compensation. However, in case of life insurance, the principle of Causa Proxima does not apply. Whatever may be the reason of death (whether a natural death or an unnatural death) the insurer is liable to pay the amount of insurance.

International Business In Saudi Arabia Business Essay

International Business In Saudi Arabia Business Essay This research paper attempts to find article in newspapers that pertain to Saudi Arabia and the relationships it has in international business. The newspaper articles are selected in accordance with the topic under research and the summary is provided. Saudi Arabia being a strategic partner in international business has been in the forefront to promote it by having in place political, legal, economic and social-cultural environment where such can thrive. In this respect, the paper analyses cases that have been reported in the media and which relate directly to the scope of international business. 1. What Is International Business Cover page: May 18th 2011 Global economic climate brightens again, ICC/Ifo survey reveals Paris, 18 May 2011 Article Summary: The article states that the global economic climate indicator stands at 107.7 points in April, 2011 which is far much higher in the last few years. The figure is derived from a survey of 1000 economists in over 120 countries in which they responded to positive global economic growth. There are however factors that could affect this optimism such as budget deficits, high inflation and unemployment. The ICC (International Chamber of Commerce) secretary attributed this as a sign of economic recovery. He urged governments to work together to encourage a multilateral trading system that facilitates global economic growth. Although interest rates are expected to rise, emerging economies are worried but this will not affect the consumer prices much. The only risks that are expected include excessive movements in international capital and potential oil price shocks due to tensions in supply. (Note: Saudi Arabia is an oil producing country). The overall economic growth in the world is expected to reach 3.2% in 2011. Among the countries to benefit from this are the US in terms of employment and increased productivity. The Asian countries may fail to realize benefits in the short term since they expect growth in private consumption, capital expenditure and exports to weaken. In Europe, benefits will materialize especially after the Euro stabilizes. Perhaps the most interesting part is the observed improvements in Saudi Arabia amongst other neighboring nations. Relevance: International business involves all commercial transactions that occur between two or more countries or regions in a way that the political boundary is crossed. The business may be incorporated in areas such as private and government sectors, investments, logistics and transportation, and sales in various products. The reason for doing international business differs in regard to who is participating for instance private corporations do it for profit while governments seek profits and political gains. In general, economic resources get transacted across borders in form of skills, capital and people so that they enable production in banking, insurance, construction and finance sectors among others. This article is relevant to international business because it recognizes the role individual countries play as well as the factors of economic growth. It is evident that as long as individual countries economies are doing well, such countries are bound to trade with each other. Saudi Arabia being an oil producing country has over the recent past been affected by the declining economic growths in many countries all over the world. But considering that international business involves trans-border transaction such as exporting oil, (a resource), Saudi Arabia will in the long run engage and derive profits at a higher scale. Critique and Insight: Despite the implication that world economies are in the verge of growth, Saudi Arabia may still have to wait a bit longer before it can fully enjoy the benefits. In this same article, the issue of currency values is mentioned albeit shallowly. Oil as it may originate from Saudi Arabia may meet a market in crisis in regard to disagreements over currency undervaluation. This in effect means that a country like Saudi Arabia in its search for international market must be aware of such issues as well as high interest rates and inflation.   Attached Article: http://www.zawya.com/story.cfm/sidZAWYA20110518133330 2. Globalization of Markets and the Internationalization of the Firm Cover page: Bottom of Form MENASART FAIR By ARAB NEWS: Published: Apr 27, 2011 18:22 Article Summary: The boutique style exclusive exhibition is very famous amongst artists, collectors and art professionals from all parts of the world. The Middle East region is attracting these from as far as North Africa and South Asia. The interest people are showing towards long neglected art and contemporary art in this region has become a success story in the international arena. Art fair manager dHauteville in Beirut noted that there is need for an international event which recognizes the growing demand for art whose sales value is estimated as more than $200 million for the last three years. This is why MENASART aims to provide a base in the region for art enthusiasts and collectors so that it can be done in a professional and cultural environment. Artists from Middle East and North Africa (MENA) are being encouraged to seek newer media which will drive the regional governments.   In addition it will provide a repository for global art and culture enabling them to become a world class destination. Cities in Qatar, Bahrain and Saudi Arabia are investing a lot in building museums with the most notable being Nabatt â€Å"A Sense of Being† which is contemporary art from Saudi Arabia. This exhibition will enable Saudi contemporary art to experience international visibility. There also international auction houses in the region in the making and which are forecast to include all countries in the region. The Video Box has also been incorporated in which films and children arts are considered for display. But it is not art only that is being considered but also conferences for dealers, curators and collectors with an aim to address recent trends in South Asia.   They will discuss challenges that can oversee merging of all artists in these regions in the light of globalization. MENASART past fair attracted a number of visitors and they expect it to rise in later events. Relevance: Globalization of market s and internationalization of the firm both imply a situation where a business is opened up so that it can operate on an international arena. It means moving away from just considering local demand and supply but focusing on a wider area. International business as already discussed operates across borders. This article is relevant in the issue of market globalization and internationalization of the firm since it states that contemporary had been long neglected. Prior to embracing boutique style exclusive exhibition it seem that MENASART was confined to local markets; it at all it even took place. But with the opening of such exhibitions, there is a greater chance that more collectors, dealers and curators are likely to take part in the process. Considering too the interest people around the world have shown interest, it is clear that the market is opening up towards becoming global. In line with creating and building museums and trade fair the contemporary industry in fact moving from local settings to being run on an international scale. True to the article, Saudi Arabia especially will experience international visibility where their long forgotten and less traded art work will be done on an international arena. Critique and Insight: This article would have been more resourceful had they indicated some examples of art work that is associated with MENA regions. Attached Article: http://arabnews.com/lifestyle/art_culture/article374698.ece 3. Organizational Participants that Make International Business Happen Cover page: Foreign Policy The Middle East Channel: Need for a new social contract: Posted By Dag Detter, Steffen Hertog: Wednesday, May 4, 2011 11:00 AM Article Summary: There are reports that vast state assets have been misappropriated in the wake of recent uprising in the Middle East. The Arabic sector is fermented and numerous strikes are taking place for example in Misr Spinning and Weaving textile plant.   The crony capitalists who have enriched themselves through skewed privatizations deals have also been loosing support. The article points out that mismanaged public sectors have been a pivotal in the uneven growth and corruption. The State Owned Enterprises (SOEs), in some MENA countries manufacturing sector have undermined competition thus reducing growth. Many companies are unable to be productive enough to allow reasonable wages and dignified work conditions. The state appointed management has been a crucial cause by allowing cannibalizing of state assets as well as denying workers their bonuses. One Ahmed Ezz has already acquired strategic bits of steel sector by manipulating political connections in Egypt. In all other MENA countries corruption has contributed to companies ending up in looses.   In Saudi Arabia, the Saudi Basic Industries Corporation is usually run secretively though efficiently. The MENA authoritarian systems have employed political conditions such that monopolies seem to work but more institutionalized recipes by the government are required. The Organization for Economic Cooperation and Development (OECD) has reached a consensus that centralized ownership function is the best way to manage SOEs while at the same time protecting them from political machinations. Centralization allows conflicts between political and industrial imperatives to be dealt with and at the same time enable introduction of professional corporate governance skills to be utilized. The Board of Directors is strengthened in its endeavors such that the whole system runs accountably either in cases of success or failure. In order to utilize commercial funds effectively, the incorporated commercial borrowing tool comes in handy. It must however be set in under professional management that can be subjected to checks and balances for example in accounting and auditing. Instead of back financing, credit rating and use of bond market will instill more discipline. The National Wealth Funds have been observed to produce value internationally if they are well managed and accept transparency as a core principle. Reforms as studies have shown are expected to take place especially in the public sector and the management of SOEs. They must also be accompanied by labor market policy that allows migration from public to private sectors and at the same time allowing social security. Relevance: This article is relevant to the topic at hand since it addresses the organizational participants that make international business happen. In the article introduction, it is shown how different companies in MENA region including Saudi Arabia are being run corruptly leading to their collapse. Since the topic is dealing with organizational participants the State Owned Enterprises are in this case appropriate examples as they too engage in international business. The public sector is composed of so many organizations that make it possible for international business to take place and if it fails, so does the whole system. As noted in the article, SOEs including energy, telecoms, transport and real estates form an untapped resource fro driving economic growth and transforming the social contract. This in effect implies that it is organizations in these sectors that contribute to a country being able to engage in international business.   Their management is essential if it is done in an organized and structured manner as the benefits filter down to the economies in the region. This is the reason such concepts as decentralization, competitive policy and deregulation are noted as ones that will lead to sustainable profit and competitive prices to citizens.   The government on the other head is noted as the player and referee or in other terms as a market participant as well as the regulator. This is in line with the topic which discuses organizational participant who eventually allows international business to take place. In this case the Saudi Basic Industries Corporation has been successful due to being run efficiently but important to note is that the company itself serves the whole region; which is a case of international business. The OECD is another organization that set a platform for international business to take place and it has done so in the MENA region where Saudi Arabia is located. The article further proposes that if companies are run as incorporated commercial holding companies, they are more likely to perform in the international arena as Singapores Temasek which is a National Wealth Fund has done. Finally, both SOEs and the private sector are in real sense contributors to international business in a country.   If both are managed well, they become profitable and in turn will expand beyond the countrys borders so as to indulge in international business. Critique and Insight: In as much as the article traces the causes of the current events in the MENA region, it fails to give adequate examples of how each country is fairing. It would have been more appropriate to specify the rate of interaction among the MENA member countries in regard to how they actually do business. It seems that the article is only relying on the call for political reform in the running of the public sectors and dealing with corruption. However I tend to agree with the author when he asserts that a regional reform program is necessary especially in the SOEs.   Both the financial and social enterprises sectors need to be reformed so as to take a global relevance.   It is only through globalization that organizations which play a vital role in international business will be able to accomplish their goals. Attached Article: http://mideast.foreignpolicy.com/posts/2011/04/29/a_new_social_contract 4. Theories of International Trade and Investment Cover page: Colombo Page: Sri Lanka Internet Newspaper Leading News from Sri Lanka Saudi delegation to visit Sri Lanka to explore new areas of business cooperation Fri, May 20, 2011, 10:07 am SL Time, Colombo Page News Desk, Sri Lanka. Article Summary: The Saudi Arabias Commerce and Industry Minister, a Mr. Abdulla Zainal Alizera noted that peace in Sri Lanka has made it possible for the Kingdom of Saudi Arabia to establish new trade relations. This was discussed during a visit by the Sri Lanka Minister of Industry and Commerce a Mr. Rishad Bathiudeen in Jeddah. The Saudi minister cited recent unrest in North and East Sri Lanka as having hindered trade but now is willing due to the peace that has been realized. The new chapter in trade will be initiated by a Saudi delegation to Sri Lanka with an aim of exploring new areas of cooperation between the two countries. On the other hand, the Sri Lankan minister has already identified sectors which trade can take place.   These include; tourism, industry, garments, information technology, fruits and vegetable cultivation and gem and jewelry sectors. The Saudi government will too volunteer by sending a technical team to identify new areas in agriculture under the King Abdullah Initiative for Saudi Agricultural Investment Abroad. The two countries have eventually agreed to form a Business Council to promote bilateral trade which currently stands at $ 246 million. But both countries are hoping to improve on this figure and especially the $ 43.8 million Sri Lankas export to Saudi Arabia. In a bid to initiate this trade, the Sri Lankan minister has already allowed garments export to Saudi and they be made according to Saudi businessmen specifications. He further is optimistic in that he encouraged trade which would soon yield attractive gains. The Sri Lankan minister also ventured in to other ministries in Saudi Arabia such as the Electricity and Finance ministry in pursuit of international business. Relevance: Theories in international trade and investment can be explained in two distinct ways. One of them concerns the national level and deals with questions like why nations trade and how they can enhance their competitive edge. The other level is firm oriented and seeks to give insight in to why firms institutionalize and how it helps in giving sustainable and competitive edge. The various theories covered here include; mercantilism, factor proportions, absolute advantage, new trade index to name a few. This article fits well with theories of international trade and investment since the visits by the Sri Lankan minister seeks to initiate trade. The theory of mercantilism for instance is the basis for the visit because Sri Lanka realizes that their national prosperity is the result of a positive balance of trade. Both countries exercise mercantilism in regard to maximizing their exports and minimizing their imports. Under the theory of absolute advantage principle, it is evident that the proposal by the Sri Lankan minister that Saudis import garments if well founded.   Sri Lanka must be aware of the few resources it utilizes in production of garments and why it seeks Saudi businessmen to buy them. In regard to the comparative advantage principle, even though Saudi Arabia has an upper hand in case it exports oil to Sri Lanka, which might be more expensive, the only cause for their wish to trade is in the cost of production of garments. This concept of specialization will eventually benefit both countries; Saudi Arabia in oil and Sri Lanka in garments and agricultural production. Both countries also Critique and Insight: This article provides an insight in to how international business is initiated.   It provides a clear glimpse that goes with trade delegations for a certain country visiting another.   For international business to take place, each participating county must be in a position to make deals that will last and be beneficial to both parties. Another notable fact is that peace is very important for trade to take place as is evidence by past failures between the two countries. In addition, countries must be guided by international trade and investment theories in order to make the most out of trade. Finally the article reveals the likelihood of business to occur if the initiating party has also something to offer in the course of bilateral trade. The importance of trader councils cannot also be underemphasized. Attached Article: http://www.colombopage.com/archive_11/May20_1305866256CH.php 5. The Cultural Environment of International Business Cover page: Arab News.com Saudi women gaining ground after long struggle By ABDULHAI YOUSEF | ARAB NEWS Published: May 12, 2011 01:03 Updated: May 12, 2011 01:03 RIYADH: The late introduction of womens education in Saudi Arabia has not limited their ability to make considerable gains and rights. Article Summary: Saudi women have now been able to reach official decision making positions in Saudi Arabian government. In international arena they have had chances as high executives in international organizations but not at home front. So many stories have been circulating pertaining to Saudi women strive for legitimate rights in education and work as well as ability to make personal decisions in their affairs. Historically, it was impossible for them to realize education dreams whereby their culture considered it as an act of sedition and a source of corruption. According to Islam, women were confined to their husbands will until their death. King Saud however contributed a great deal by allowing for girls to attend schooling and over the years many of them took up the challenge. Currently, many of them have joined all sectors of investment, government ministries, medicine, and engineering and in business as well. One Hallima Muzaffar is already an accomplished writer and literally critic but confesses the struggle is not over yet. She cites that she still cannot run her own business despite being knowledgeable. In addition, she laments that the society is ready to open up for everything but for women. Many other women in Saudi Arabia claim and endeavor to fight for their rights sometimes with little or no success.   Finally the article notes that a number of Saudi women are well placed locally and internationally for example Thuraya Obaid who is in the UNPF and Lubna Olayan, a renowned investor in the international financial markets. Relevance: The culture environment of international business is a very important that should not be overlooked.   It involves the understanding of various cultural elements in a country that one is willing to engage in business with. Such cultures may have diverse and unfamiliar languages, value systems, behavior and beliefs. In a cross border business, it is always necessary to have a clue of the lifestyles, consumption behavior and norms that are characteristic of the people a country intends to deal with. Culture comes about in the unique communication, symbols and ideas they express and if underestimated could pose certain risks. The risks in international business associated with culture include country risk, commercial risk, and currency risk and cross-cultural risk. Failure to consider carefully each of these risks might result in the trade ties deterioration and eventual death of any business however successful it was. In international business such processes as developing products and services, communication and interaction, screening for foreign distributors, negotiating, advertising and exhibition all must be accompanied by detailed analysis of the culture in question. This article is very relevant to the issue of cultural environment of international business considering Saudi Arabia has unique culture. It is evident that women in that country are treated differently when it comes to their involvement in business. The article points out the various struggles women undergo and their plight can be harmful to the international business in the long run. Considering for instance those women in other parts of the world can engage in business and run them profitably, it is ironical why such can not be practiced in Saudi Arabia. But in essence it is important to understand different cultures as already discussed prior to initiating business with them.   In this case, an investor who prefers to engage in a business that involves women roles in America may be forced to change his mind while dealing with Saudi women. This is in line with understanding the cross cultural risk associated with international business and to counter it would entail leaving out any involvement with Saudi women. Critique and Insight: The article gives an insight in to how different cultures behave in regard to business. This is very helpful so that investors may seek information on cultural environment before engaging in business that may later pose risks once established. The article however fails to highlight what Saudi women are actually doing to promote international business in the light of globalization. Attached Article: http://arabnews.com/saudiarabia/article396218.ece 6. Political and Legal Systems in National Environments Cover page: Arab News .com By DR. KHALID ALNOWAISER | ARAB NEWS Human rights issues in Saudi Arabia Existing sponsorship system no longer conforms to the life in the 21st century Article Summary: The article discusses human rights in Saudi Arabia in respect to women, youth and foreigners. However it is the political and civil rights part that pertains to political and legal systems in national environments. The author notes the fundamental worth of everybody to be free and safe. The right not to be arbitrarily arrested and freedom of expression in any business they engage in is emphasized. Among all these rights, the writer notes that the Saudi citizens must be free to participate in management of public affairs either directly or through elected representatives. Individuals have a right to vote or run for office in fair elections as declared in the Covenant on Civil and Political Rights issued by the United Nations in 1966. The article concludes with a question of whether the Saudi government is ready and willing to make significant political decisions for its people so that they may participate in any business of their choice. Relevance: The political system involves institutions, political organizations and interest groups and their relationships and rules that govern them in a country. This may happen along individual or community settings where each has assigned rights and roles. It is very common for any country to operate along a certain political ideology such as democracy or a totalitarianism setting. Each of these systems is designed to improve standards of living, communication and economic progress. But on the other hand, failure of any particular system may lead to risks especially in regard to international business. The risks can however be reduced substantially by stimulating local economy, offering national employment, and encouraging shared business ownership and engaging in activities that show political neutrality and civility. The legal system too is composed of civil, customary, theocratic and common laws which are meant to govern how people interact and dissolve disputes. In international business, the intellectual property rights are very important to understand as they define the right of benefit of any tangible property an individual may have invented. This article is relevant in the way it emphasizes the need for political systems based on legal foundations that are recognized internationally. In such a system, international business thrives if conditions where human rights are upheld and this comes from the political and legal system that is in place. Critique and Insight: The article is well presented and has all the facts that are crucial for international business to take place.   A country that denies its own citizens basic human rights cannot enjoy benefits in international business. Attached Article: http://arabnews.com/opinion/columns/article408235.ece?comments=all 7. Government Intervention in International Business Cover page: PH rejects Saudi bid to cut Filipino maids pay By Philip C. Tubeza Philippine Daily Inquirer 6:18 am | Friday, May 20th, 2011 Article Summary: The Philippines has rejected the request by Saudi Arabia for a pay cut for Filipino maids working in the Kingdom. According to Labor Secretary, the $400 minimum salary for maids working abroad will remain despite the Saudi government wish to have it reduced to $200. Because of the salary dispute, the Saudi government has suspended the deployment of Filipino maids to the Kingdom.   The matter has been referred to Geneva where bilateral trade is meant to be discussed and resolved. Relevance: The role of the government is very important in international business. Governments impose restriction in international business mainly due to political, cultural and economic reasons. In cases where the government wants its domestic business in exports to thrive, intervention is necessary. Another scenario is during difficult economic times so as to reduce imports and therefore shield its workforce from being laid off. Political motives are may be cited by a government in international business if it wants to protect jobs, preserve national security, gain influence and to respond to unfair practices.   The economic motives involved may pertain to protecting incoming industries that are in the growth path or in order to pursue a strategic trade policy.   Culturally, the government may intervene in order to preserve its national identity. All these measure have a basic motive which is to secure jobs for its citizenry. This article is relevant in that the Saudi government has intervened in the dispute so that its own maids may have better terms than those of foreigners. The economic motive is evident in the article because the Saudi government wants job security that could be threatened by the highly paid Filipino maids. Critique and Insight: The article is well presented and bears all facts that would call for a government to intervene in order to secure its citizens jobs.

Value of the Biopsychosocial Model of Health

Value of the Biopsychosocial Model of Health Various approaches of rehabilitation based on scientific models are implemented to cope with disabilities, impairments, diseases (Lorenzo, M, 1999, p.1). Before the implementation of Biopsychosocial model, Biomedical model was traditionally practised and heavily used upon assessing patient. (Engel, 1977, p.130). Engel (1977, p.131) states that biomedical model illustrates the alteration of particular biochemical is commonly assessed in a specific diagnosis in relevant to the pattern of the disease. He also mentioned that additional concepts and frames of reference should be taken into account. Biopsychosocial model is said to be an improved model than biomedical model as it is a way of examining patients at the two important interlinked systems: mind-body connection. (Engel, 1977, p.132). This model was proposed by psychiatrist George Engel in a 1977 article in Science. This biopsychosocial model treats patients from biological, psychological and sociological aspects of body (Lakhan, 2006). Unlike biomedical model, psychological and sociological was not being emphasised as it solely examine the biological aspect (Erskine et al, 2003, p.173). The most obvious dissimilarity of Biopsychosocial model than Biomedical model is that Biopsychosocial model encourages patients active participation whilst Biomedical model is not much a model which promotes patient-centred care in terms of appreciating the individual needs and right of patients, understanding patients illness and health care experiences, and embracing them within effective relationships which enable patients to participate in clinical reasoning more (Ersser, 2008, p.68). Biopsychosocial model approach was used during a clinical placement; Mdm. C went for her first treatment in physiotherapy department after being referred case from an orthopaedics doctor to a physiotherapist. Mdm. C is a 56 years old housewife who is diagnosed with shoulder osteoarthritis. Shoulder osteoarthritis typically affects patients over 50 years old and it is more common in patients who have a history of prior shoulder injury as well as genetic predisposition (Cluett, 2009). Mdm. C was having language barrier with the physiotherapist responsible, Mr. S as she is incompetent in speaking English and Malay. Immediately, Mr. S finds another assistant who is able to communicate to her in Mandarin (Chinese). Despite the barrier faced, Mdm. C was greeted nicely by the Mr. S. Based on the physicians report, Mdm. Cs condition fulfilled the symptoms of shoulder osteoarthritis: inflammation and degeneration of cartilage, pain with activities, limited range of motion, stiffness of the sh oulder, swelling of the joint, tenderness around the joint, and a feeling of grinding or catching within the joint (Cluett, 2009). Both objective and subjective assessment is carried out to initiate the treatment as well as to identify and confirm the biological aspects. (Petty, 2004) While assessing Mdm. C subjectively, Mr. S communicates with Mdm. C whole-heartedly, questioning her about her background, her career, social life, daily habitual routines. Petty and Moore (2007, p. 130) states that this would ease the physiotherapist to investigate more about the initial cause of the deformity as well as to treat her effectively in achieving the short-term and permanent goal in rehabilitation. Physiotherapist practised active listening while listen with heart of compassion, patience and without any judgmental view. Physiotherapist should also choose words carefully and meaningfully without stepping into patients borderline by using open-ended questions to search for information until full understanding is achieved. Sensitive verbal and non-verbal communication is witnessed throughout the session (Petty and Moore, 2007, p.130). Physiotherapists attempt to enquire more about Mdm. C is successful as Mdm. C became more comfortable in exposing and describing more about her complains of pain. This indirectly allows the physiotherapist to gather more information for a better rehabilitation outcome at ease. Engel (1977, p.130) states that more information needs to be gathered during consultation as physiotherapists need to find out about the patients biological signs, psychological state, their feelings and beliefs about the illness, and social factors such as their relationship with families and larger community. Thus, the interview process acts as a mean for the patient to give as much information as possible not solely based on physical symptoms, but how the illness affects the patient. (Engel, 1977, p.130) Physiotherapist started the objective assessment with the examination of posture of Mdm. C in sitting and standing, noting the posture of the shoulders, head and neck, thoracic spine and upper limbs. Physiotherapist notes bony and soft tissue contours around the region. He checked the alignment of the head of humerus with the acromion as this can give clues about the possible mechanical insufficiencies. Mr. S pinch-grips the anterior and posterior aspects of the humerus, passively corrects any asymmetry to determine its relevance to the Mdm. Cs problem (Petty, 2006, p. 212). Objective assessments are accompanied by other tests and after all been carried out, Mr. S had drafted out the treatment plan for Mdm. C. Mr. S then carefully and slowly explained the treatment to Mdm. C and set a short-term goal for her as it would not be a burden for Mdm. C in short duration. Mdm. C also benefits from getting a better idea of her conditions, treatment alternatives, and expected improvements. Sullivan (2007, p.11) states that anticipated goal and expected outcome can address in predicted change in overall health, risk reduction, and prevention and optimization of patient satisfaction. He also states that this would further encourage faster recovery. Mr. S then applied hot packs on Mdm. Cs shoulder as heat helps to prepare the tissues for stretching and should be performed prior to any exercise sessions (Anderson, 2009). Time duration for 10-15 minutes are used for the treatment and several layering were used to wrap to hot pack to avoid burning of skin. Thermo therapy is believed to relax muscle tightness and to relief pain, reduce muscle spasm, and increases blood circulation (Inverarity, 2005). Mr. S then teaches Mdm. C simple exercises to facilitate her restricted movements. Before starting the treatment, Mr. S demonstrated the exercise slowly and gave short, clear and easy-to-understand instructions and explanations about the treatment without using scientific jargons and labels to enhance the understanding of Mdm. C as wells as to minimize the emotional distress (O Sullivan and Precin, 2007, p.56). This consider patients empowerment into account as physiotherapist informed and explained the treatment options to patients before commencing the exercise onto patient herself. The exercises given are: finger walk, towel stretch, and armpit stretch. The goal of these exercises is to stretch the shoulder to the point of tension without pain (Anderson, 2009). Mr. S monitored Mdm. Cs psychological aspects properly by observing Mdm. Cs facial expression and body language. Facial expressions act as an indicator of patients psychological affection(Petty, 2004). It would somehow affect the quality of exercises performed by patient. By observing patients facial expression, it tells physiotherapist how they are feeling while doing exercises and whether they are comfortable doing it or not (Petty, 2004). For instance, if Mdm. C feels like giving up due to fatigue and disappointment doing exercises, Mr. S would act as a motivator to motivate her to continue her efforts by encouraging and supportive words like, Dont stop, youre almost there, Keep going, youre doing very well, You can do it, its easy, Hang in there, just a while more, Youre doing very good, come lets finish it together, this indirectly would comfort the patients psychological discomforts and motivate her to be on the right track. Mr. S enquired again, if Mdm. C is comfortable with t he given exercises to ensure that Mdm. C knows what she is doing and why is she feeling this way, and how does she cope with it if she feels like giving up due to tiredness. These covered the psychological aspects (Petty and Moore, 2007, p. 131). Though Mdm. C came alone for this treatment, she was encouraged by both Mr. S and his assistant who are competent in Mandarin throughout the session. Thus, Mdm. C knows that she is not doing it alone. When the treatment session is over, Mr. S gave Mdm. C few sheets of paper containing the exercises she did earlier. Mr. S contacted Mdm. Cs nearest kin, her daughter to stress the importance of home exercises and to ensure that Mdm. C constantly does that at home, as well as to encourage the family members to participate in the exercises in helping Mdm. C to improve her muscle strength and relieve the symptoms. Mr. S educates the family members about precaution and safety at home. Mr. S strongly encouraged family members to accompany Mdm. C for her next scheduled treatment so to overcome the language barrier and to make the family involved. These cover the sociological aspects of treatment. Sullivan, (2007, p. 52) states that Social support helps the increased of self-esteem, adjusting and adapting oneself with disability. Biopsychosocial model takes into consideration of patients involvement in treatment, patients needs, and patients relationship with clinician during a clinical practise as this model comprises the biological, psychological, sociological aspects of a patient. To conclude, biopsychosocial model is practical, applicable, and agreeable as it brings enormous improvements on patients condition. (1497 words)

Dale Chihuly: The Man Behind the Masterpiece Essay -- Artists Artist A

Dale Chihuly: The Man Behind the Masterpiece The artist is known not only for his glasswork—which displays exuberant colors, exotic shapes, and a dramatic scale—but also for his outlandish lifestyle and appearance. According to William Warmus, author of The Essential Dale Chihuly, â€Å"Henry Geldzahler, former curator of contemporary art at The Metropolitan Museum of Art in New York, once said that the striking Chihuly ‘looks like a pirate and sometimes acts like a pirate,’ leading the life of a nomad and traveling the world over to orchestrate museum shows, glassblowing sessions, and installations of his work† (10). Chihuly’s trademark look includes: About the artist: â€Å"One of my favorite artists is Harry Houdini. Maybe that’s what I’m trying to be—a magician.† Dale Chihuly was born on September 20, 1941, in Tacoma, Washington. A butcher’s son, he was born into a humble, working-class family. His only brother died in a navy training accident in 1957. Months later, his father suffered a fatal heart attack. Chihuly was devastated by the loss, but his mother convinced him to go on to college. While attending the University of Washington, Chihuly completed an assignment to use nonfiber material in a weaving†¦As Warmus recalls: This proves to be the occasion of his first serious glass artwork, Glass Weaving, in which glass shards are interlaced with metal wires that he has fused into glass. Smitten with his new art form, Chihuly is awarded the Seattle Weavers Guild Award in 1964 for his innovative use of glass and fiber. (Warmus 17) The Child and the Adult: Many of Chihuly’s childhood experiences influenced his art later in life: Young Dale spends much of his childhood at the beach with his family, and enjo... ...p of that, Chihuly has his own publishing company, Portland Press, and published several books on his own. Some of these can be found on his website at http://www.chihuly.com/biblio/writings.html. the big picture: Besides the colossal glass works that Chihuly has spread across the planet, how is he contributing to society? Although most known as Dale Chihuly, the artist, it is Dale Chihuly, the character, who has contributed the most to society. He is an unrestrainedly free spirit, seeking out energy, life, and peace of mind through a pursuit of beauty. It just happens that art is his way of sharing these sensations with the world. References Chihuly. 20 Nov. 2001 . Form From Fire: Educator Resource Packet. Dayton: Dayton Art Institute, 2001. Warmus, William. The Essential Dale Chihuly. New York: Wonderland Press, 2000.

Venture Capital Financing Essay -- essays research papers fc

What is Venture Capital   Ã‚  Ã‚  Ã‚  Ã‚  Venture capital is money provided by professionals who invest alongside management in young, rapidly growing companies that have the potential to develop into significant economic contributors (NVCA). Venture capital is an important source of equity for start-up companies. These portfolio companies that receive venture capital are thought to have excellent growth prospects. Start-up companies don’t usually have the access to capital markets because they are private. Venture capitalists are one solution to financing high risk, but potentially high reward companies. Usually the investors receive a say in the company’s management, they may be on the board, and they expect to receive returns 5-10 times their investment of up to 50 million dollars (Burk). History of Venture Capital It is important to start out with the history of venture capital to see how it has grown as well as to show its ups and downs. It was thought to be developed in the years following WWII but it can actually be dated all the way back to partnerships in the Babylonian Code (Gompers). These Babylonian partnerships used gold or silver to finance caravans. The terms for were 12 years and 100% profits (Heise). Much later the first venture capital firm was established in 1946. Karl Compton, the MIT President, along with Georges Doriot, a Harvard Business School Professor, formed American Research and Development (ARD). There were also local businesses leaders involved in the project. During the war, there were many new technologies developed as well as other innovations from MIT. About half of ARD’s profits came from its investment in Digital Equipment Company in 1957. It had only invested $70,000 but had grown in value to $355 million. A decade later, many other venture capital firms were formed. They were all structured as publicly traded closed-end funds as were ARD’s. Closed-end are mutual funds whose shares must be sold to other investors, instead of being redeemed from the issuing firm. In 1958, the first venture capital limited partnership was formed, Draper, Gaither, and Anderson. Others soon followed suit, but limited partnership remained the minority during 1960’s and 1970’s. The rest were either closed-end funds, or small business investment companies. During these years, the total annual venture funds were small and never exc... ...try. They are very optimistic about the future of venture capital funding. They say this is due to the fact that more investors are investing in venture capital, as well as the increase of IPO’s (Raffa). Works Cited Bartlett, Joseph. Fundamentals of Venture Capital. Rowman Publishers, 1999. Burk, James, and Richard Lehman. Financing Your Small Business. Sphinx Publishing,   Ã‚  Ã‚  Ã‚  Ã‚  2004. Camp, Justin. Venture Capital Due Diligence. Wiley Inc, 2002. Gompers, Paul, and Joshua Lerner. Venture Capital Cycle. Cambridge: The MIT Press,   Ã‚  Ã‚  Ã‚  Ã‚  2000. Heise, John. â€Å"The History of the Bronze Age in Mesopotamia.† 1996. http://mahan.wonkwang.ac.kr/lecture/ancient/meso/sron/bronze_age.html National Venture Capital Association. 2005. http://nvca.org/ Raffa, David. â€Å"Pipe Dreams and Other Opportunities on the Venture Capital Road   Ã‚  Ã‚  Ã‚  Ã‚  Ahead.† 2004. www.catalyst-law.com/document/237 Sherman, Andrew. Raising Capital. 2nd ed. Amacon, 2005 Timmons, Jeffrey, et al. How to Raise Capital. McGraw-Hill Companies, 2004. Venture Capital Journal. Thomson Financial, 2005. http://www.venturecapitaljournal.net/vcj/topnews.html

Five Year Business Plan Essay -- essays research papers

SMC Company Five-Year HR Forecast The local labor market has continued to shrink and labor costs have continued to soar over the past two years. SMC's workforce has now become bilingual and has had to deal with occasional unsuccessful attempts for its labor force to organize a union. To remain competitive for the next five years and sustain its growing sales, SMC Company will have to address staffing, employee development and training, compensation and benefits, employee relations, and safety and health issues. SMC must consider elements in developing the five-year plan such as technological advances, globalization, diversity, e-business and ethics. The ultimate goal at SMC Corporation is continued growth. One aspect that will determine SMC’s success is to predict what labor will look like over the next five years. By looking at the demographics of the Shaker Heights labor force along with the available work force of the surrounding area, a forecast of potential employees can be produced. SMC must look for new inventive ways for the current staff to increase productivity. These actions give SMC the ability to empower their employees to think on their own and present ideas that increase productivity without increasing headcount. SMC can also look to The Bureau of Labor Statistics of the U.S. Department of Labor for information on the projected supply and demand for any specific occupation. (Dessler, 2000, pg. 133). When considering the projected labor force, SMC must predict future cost of labor. SMC has been located in Shaker Heights since it’s inception. One concern for the future is being able to maintain all operations of the company in this location. An aspect that may effect keeping the entire production in Shaker Heights, is the cost of the local labor force versus cost of labor elsewhere and the global manufacturing environment. For instance the cost of labor (US dollars) in Mexico averages $1.51 per hour to the United States who averages $17.20 per hour, to the United Kingdom who averages $13.77 per hour. (Dessler, 2000, pg. 617). With such a broad range in labor costs SMC should consider building a manufacturing facility outside the US. SMC will need to find ways to increase production without dramatically increasing overhead. With all the departments working together, SMC will continue to meet their goals while constantly upgrading their processe... ...mployees are empowered to do their jobs and feel they are part of the company. * Technological advances - Create employee learning resource center * Globalization - Track international marketing trends and employee compensation packages to attract and retain international workforce(differences in cultures and customs in Mexico and England need to be evaluated) * Diversity - Conduct seminars on diversity within the workplace * E-Business - No immediate changes * Ethics – Create a volunteer board to help employees become active in the community Safety and Health measures will be implemented to ensure a safe work environment. * Technological advances – Time and motion studies * Globalization - Preview health issues in Mexico,England and the U.S. which may affect employees * Diversity - Make sure that all safety and health posters are printed in both languages * E-Business – No plans at this time for any e-business applications as pertains to health and safety * Ethics - Do environmental survey to ensure that the production plant emissions are not harming the surrounding area. Add links on company intranet to organizations such as OSHA, ISO and EPA.   Ã‚  Ã‚  Ã‚  Ã‚  

Organizational Project Management Maturity Model Essay

1. Introduction Successful implementation of a new organizational strategy can turn a good organization into a great one. Conversely, strategies that fail or generate poor results can quickly damage the organization’s reputation and brand, internally and externally. Effective strategy execution is the responsibility of all levels of management, who must be involved actively and consistently to orchestrate required organizational changes and to manage the portfolio of investments that underpin these change initiatives. The Organizational Project Management Maturity Model is a framework that provides an organization wide view of portfolio management, program management, and project management to support achieving best Practices within each of these domains. This holistic perspective is a powerful tool enabling successful execution of organizational strategies, portfolios, programs, and projects, especially when these transcend functional and hierarchical boundaries. Moreover, OPM3 global best P ractices, applied to the execution of strategy, can drive superior and sustainable results. Effective strategy execution is the responsibility of the organization’s strategic planning and governance structures, which must be involved accurately and consistently to orchestrate required organizational changes. They manage the portfolio of investments that underpin these change initiatives. 2. Organizational project management Organizational project management is the systematic management of projects, programs and portfolios in allignment with the achievements of strategic goals. The concept of organizational project management is based on the idea that there is correlation between organization’s capabilities in project management, program management and portfolio management and its effectiveness implementing strategy. Organizational Project Management Project Portfolio Program Strategic Goals * Project – A temporary endeavor undertaken to create a unique product, service or result. * Program – A group of realated projects managed in a coordinated way to obtain benefits and control not available from managing them individually. * Portfolio – Acolloection of projects or programs and other work that are grouped together to facilitate effective management to meet strategic business objectives. 3. OPM3 Model OPM3 is an acronym for the Organizational Project Management Maturity Model, a standard wich is developed under the stewardship of the project management institute. The purpose of this standard is to provide a way for organizations to understand organizational project management and to measure their maturity against a comprehensive and broad based set of organizational project management best practices. OPM3 also helps organizations to increase their organizational project management maturity to plan for improvement. 4.1. Primary physical parts of the standard There are three parts; i. Narrative text – presents the OPM3 foundational concepts, with various appendices and glossary ii. Self assessment – provide a tool in support of the assessment step out lined in OPM3 iii. Directories – contain data on nearly 600 organizational project management best practices and their constituent capabilities 4.2. OPM3 Stages There are four sequential stages of process improvement; STANDARDIZE| MEASURE| CONTROL| CONTINUOUSLY IMPROVEMENT| 4. How does the OPM3 work? OPM3 offers the key to organizational project management maturity with three interlocking elements; i. The KNOWLEDGE element lets organizations uncover hundreds of Best Practices and shows them how to use the information available in OPM3. ii. The self ASSESSMENT element is an interactive database tool that lets organizations evaluate their current situation and identify their areas in need of improvement should an organization decided to embark on the path to higher maturity. iii. The IMPROVEMENT element will help map out the steps needed to achieve their goals. * KNOWLEDGE element which drives Assessment * ASSESSMENT element which in turn drives Improvement * IMPROVEMENT element. 5. Benefits of OPM3 to the organization I. It bridges the gap between strategy and individual project. II. It provides a comprehensive body of knowledge regarding what constitutes best practices in organizational project management. III. By using OPM3, an organization can determine exactly which organizational project management best practices and capabilities it does and does not have. IV. If the organization decides to pursue improvements, OPM3 provides guidance on prioritizing and planning. 6. What kind of commitment is required to launch OPM3 in an organization? The process of applying OPM3 in an organization is difficult to quantify. It depends on factors such as the size, complexity and initial maturity of the organization, the thoroughness of the assessment, the nature of the organization’s strategic objectives, and the level of resources available also impact any estimate. However, the assessment portion of such an initiative is most likely to take from several weeks to several months. Should an organization decide to embark upon improvements, the planning and implementation steps are likely to take longer, depending on how many best practices and related capabilities an organization decides to work on at one time. 7. Importance of OPM3 to the project management profession The Project Manager Competency Development Framework is the standard to guide the professional development of project of project managers and those aspiring to be project managers. OPM3 is the first iteration of a standard for organizations. It has the potential to create a new environment for those who are working in the project management profession, by illuminating the important link between projects and organizational strategy and the importance of organizational support to project management practices. The information in OPM3 is based on very broad based input from project management practitioners and consultants. 8. Summary The current global economic climate has ushered in an era of uncertainty that throws the importance of Organizational Project Management (OPM) maturity into sharp relief. It is critical for organizations to renew their ability to create cost efficiencies, economies of scale and agility to adapt to the changing business environment through projects. Companies need the organizational capability to choose the right projects, manage costs, and innovate. They need the organizational capability to delivery projects successfully, consistently, and predictably. The Project Management Institute’s OPM3 Standard was developed with input from thousands of project practitioners and represents best practices in Project, Program, and Portfolio Management. OPM3 incorporates the PMI’s PMBOK Guide, the most widely adopted standard for managing individual projects, and expands this into the domains of Program Management and Portfolio Management. OPM3 emphasizes choosing the right projects to advance organizational strategies and implementing the processes, structures, and behaviors necessary to deliver projects successfully, consistently , and predictably. Standardization of project work methods lays the foundation for achieving higher levels of maturity and excellence to create the organizational agility and resilience you need in today’s marketplace. Leading organizations of all types and sizes across multiple industries are adopting OPM3 to transform their ability to close the gap between strategic intent and tactical outcomes through successful project selection and delivery. The preferred method for implementing OPM3 begins with an OPM3 Assessment by a PMI certified OPM3 Professional. 9. References * Project Management Institute, Inc. (2003). Organizational Project Management Maturity Model (OPM3). Organizational Project Management Maturity Model (OPM3). 1 (1), 1-195. * Project Management Institute, Inc. (2004). An executive’s guide to OPM3. An executive’s guide to OPM3. 1 (1), 1-5.