Principles and Practises for International Management Essay

To achieve the new worldwide revenue objectives I will have to convince the senior management to increase the workforce in my department to share my responsibilities, as they are not one person’s cup of tea. I will have to ensure that this workforce consists of serious individuals who are capable of working towards the achievement of a single goal with common mindset. I will have to make sure that local people are hired in the country’s international units, as they would prove to be helpful in making the company adapt to the culture of the foreign countries. Along with them and the few employees in the company who were not born in this country, I will try to identify with the countries in which our company has spread its operations. This can be done by in depth analysis of the countries’ political, sociological, demographic and geographic features. I will also have to be well prepared to communicate effectively across different cultural barriers and languages. I would urge the senior management to master skills to effectively manage cultural diversity in workforce. It has been rightly pointed by Rue and Byars that â€Å"Achieving success in international business demands that a firm’s human resource practices be adapted to country norms. † (1992, p. 130) The company would also have to thoroughly study the international market and design its marketing strategy accordingly. In no way should the company disrespect the local culture in which it is operating. Instead, it should try to blend the local culture with its corporate identity and be always consistent in this. Guidelines for the company staff should be designed in such a way that there is no scope of inconsistency or confusion across borders. The employees should be trained, keeping in mind the trends set by the flourishing multinational companies. They should be encouraged to perform their best. The international business units should be given similar autonomy as the local units, both in crisis situation and at decision-making times. In the words of Leandri â€Å"†¦hold local operations accountable to the corporate office yet give them enough autonomy to make necessary decisions. † (2000, para. 9) By making the company adapt to the demands of international expansion and by developing my own communication skills and potential of working in diverse work environments, it will not be hard to gain the payoffs that international business offers.

Obama Care The Federal Legacy Health And Social Care Essay

The historical development of province wellness attention policies and their development to establishments of the present twenty-four hours has created an environment where the support of province wellness attention and its reform has been a focal point of citizens and governmental entities likewise. Recent province policy research and media focus frequently list the immense cost loads that states face to handle many of their uninsured citizens including the indigent and low-income persons, peculiarly those with important chronic medical conditions and viz. dialysis patients. Safety Net, or â€Å" Disproportionate Share, † Hospitals ( 1980s to 2009 ) Before 1981, Medicaid paid infirmaries with unreimbursed attention based on â€Å" sensible costs. † The disproportionately high costs of infirmary attention[ 1 ]caused Congress to acknowledge Disproportionate Share Hospitals ( DSH ) in the Omnibus Budget Reconciliation Act ( OBRA ) of 1981. DSHs are defined as those that serve preponderantly low-income patients, and as such, are public infirmaries that are entitled to federal aid. These DSH, or â€Å" Safety Internet † infirmaries, supply a broad assortment of attention. In 1987, the so Health Care Financing Administration[ 2 ]( HFCA ) released a survey that reviewed province DSH plans. As a consequence, Congress required provinces make payments to acknowledge DSH public infirmaries. In 1990, province discretion was increased in footings of their DSH plan designs. Different classs were allowed, but this increased DSH disbursement. By 1992, DSH disbursement cost $ 17.4 billion. As a consequence, Congress passed the Medicaid Voluntary Contribution and Provider-Specific Tax Amendments Act of 1991 to restrict funding of the non-federal portion and limited national sum DSH disbursement to 12 % of entire Medicaid disbursement. Further efforts to restrict DSH disbursement occurred in 1993, in the Balanced Budget Act of 1997, which reduced Medicare DSH payments by 8.6 % , and in the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. In 2003, the Medicaid DSH Program funded 23 % of unreimbursed attention in the United States[ 3 ]. Projections indicate that $ 11.3 billion of the jutting $ 216 billion the federal authorities will pass on Medicaid in financial twelvemonth ( FY ) 2009 will be for DSH payments. This includes financess from ObamaCare ( Pete rs, Christie Provost, 2009 ) .Recent Attempts at Health Care ReformIn 1994, President Clinton attempted to go through the American Health Security Act without success. Harmonizing to one article, Business and insurance groups by and large opposed the reform bundle, while labour and the AARP supported Clinton ‘s measure. However, Clinton ‘s program was so comprehensive and complicated in the ways it might impact the dynamic wellness attention industry that some organisations changed sides during the legislative conflict and others splintered into opposing cabals ( Lowery, et al. , 2005 ) . In 1997, the Children ‘s Health Insurance Act ( CHIP ) plan was enacted. This plan provides insurance coverage for kids of low- to moderate-income places without private insurance. The plan is provided at both the federal and province ( SCHIP ) degrees as province legislative assemblies addressed wellness issues during the same clip. The legislative docket included prescription drug coverage, ordinance of managed attention, and cosmopolitan coverage, with different results than at the national degree ( IBID ) . The 50 provinces passed over 900 different Torahs modulating managed attention, between 1995 and 2001 as reported by the NCSL[ 4 ]. Health attention comprises a big part of province budgets ; multiple groups anteroom for Medicaid, SCHIP, public employees ‘ wellness insurance, and other wellness attention support. In 2003, President Bush expanded Medicare to include prescription drug coverage[ 5 ]. Massachusetts Health Care Reform In 2006, Massachusetts enacted wellness attention reforms, which were frequently touted by advocates of ObamaCare. The Massachusetts â€Å" carrot and stick † attack of single authorizations, coupled with a province tally insurance â€Å" exchange, † enables the uninsured to buy portable insurance at regulated/affordable rates. As of 2010, 97 % of Massachusetts occupants have wellness insurance ( see Appendix 6: Percentage of Massachusetts Residents without Health Insurance ) , with greater Numberss of employers offering wellness insurance than the national norm[ 6 ]. â€Å" MassHealth, † is the agencies by which the province provides comprehensive medical coverage, with eligibility standards for up to 300 % of the federal poorness degree ( FPL )[ 7 ]for low-income occupants and persons with disablements. Harmonizing to the Governor ‘s FY2011 budget, $ 9.84 billion is included for MassHealth Medicaid plans, an addition of 6.5 % from FY2010 ( see Appendix 7: MassHealth Average Enrollment ) . For those occupants who can non afford wellness insurance, Commonwealth Care provides wellness insurance for persons up to 300 % of the FPL with a full subsidy for those under 100 % of the FPL through a â€Å" to the full capitated insurance theoretical account[ 8 ]â€Å" . As of FY2010, over 150,000 occupants were enrolled, with a FY2011 budget of $ 838 million that includes a jutting 20,000 member enrollment addition. MassCare includes a $ 40 million Commonwealth Care Bridge for legal immigrants populating in the United States under five old ages. Massachusetts ‘ reform attempts ( Massachusetts Act, Chapter 58 of the Acts of 2006 ) have been both a success and a failure. Evidence of success reveal that in 2008, 96 % of occupants were estimated to hold wellness insurance. There were additions in insurance coverage reported across every population and conformity with the single authorization is high, with about 1 % of grownups assessed a punishment for disobedience ( Long, 2010 ) . Evidence of failure indicates the undermentioned ( Samuelson, 2010 ) : the province subsidizes insurance for people with incomes up to 300 % the federal poorness line ( FPL ) ; the easy portion – spread outing state-subsidized insurance coverage – succeeded ; the difficult portion – controlling costs and guaranting that passing improves people ‘s wellness – failed. Emergency suites are still as crowded, and that take place wage is being squeezed because of the coverage costs. Additionally, costs have shifted aut horities precedences from public safety, instruction, substructure, and lower revenue enhancements to wellness attention as the province budget went from 22 % for wellness attention to 35 % , of which 90 % of that is Medicaid. MassCare besides provides a Health Care Finance and Policy Division Health Safety Net ( HSN ) , once known as the Uncompensated Care Pool. HSN reimburses infirmaries and other Safety Net medical suppliers for low-income patients who are uninsured or underinsured. The payments for Safety Net suppliers decreased from 2007 to 2009 ( Appendix 8: Health Safety Net Payments Compared to Hospital Payments ) due to expanded wellness insurance coverage for occupants[ 9 ]. This lessening in Safety Net reimbursements may be a positive index for cost recovery at UMC. As patients obtain insurance, UMC may be able to better measure the insurance suppliers for attention provided, but it is excessively shortly to state if this will be a factor as patients may choose to pay the punishment of being uninsured instead than pay the higher premiums for wellness insurance. Round 2 of Massachusetts ‘ Health Reform attempted to turn to cost containment, but cost nest eggs obtained by Massachusetts ‘ wellness attention reform are overshadowed by growing in wellness attention outgos ( see Appendix 9: Growth in Health Spending in MA Expected to Surpass Other Economic Indicators Index of Health Expenditures Per Capita and Other Indexs in MA, 1991-2020 ) . Cost containment attempts outpace the province ‘s attempts to fit grosss to outgos. Harmonizing to the Governor ‘s FY2011 budget, â€Å" Experts believe that about 30 % of today ‘s wellness attention disbursement produces no benefit to patientsaˆÂ ¦we pass a significant sum of money per twelvemonth on preventable and unneeded exigency room visits, hospitalizations and readmissions, while the United States has the doubtful differentiation of taking the universe in duplicative medical trials[ 10 ]â€Å" and that farther payment reform is needed to incorporate these costs.

4 Step Process to Contract Law Essay

Question a) Step One The principle of law is that for a valid contract to be formed there must be an agreement reached by both parties. Step Two There are three main elements for the formation of a legally binding contract, intention, agreement and consideration. The requirement that requires discussion here is the existence of an agreement by the parties to enter into a legally binding contract. An agreement means a consensus on at least those essential terms needed for a workable transaction. The process of reaching an agreement is generally analysed as involving an offer and acceptance. Where the offer is a clear indication of the terms upon which a person is prepared to be bound, and an acceptance is assenting to, agreeing, or receiving the terms offered. See more: Basic Economic problem of Scarcity Essay The requirements of an ‘offer’ must be promissory, such as in Placer Development Ltd v Cth (1969) 121 CLR 353 where what the government had said was not a legally enforceable promise, but had appeared to be one. It must be sufficiently complete, and intended to result in a contract if accepted. The requirements of an ‘acceptance’ to exist must be in the same terms of the offer. It cannot still be subject to a condition, such as where it was clear that Cameron had not intended to be bound until a formal contract was prepared and signed, Masters v Cameron (1954) 91 CLR 353. An acceptance must be made while the offer is still in existence. It must be made by a person whom the offer was addressed. If the offer is intended to be made to any person that learns of it then any such person can accept the offer on the stated terms. Carlill v Carbolic Smoke Ball Co (1893) 1 QB 256, where Carlill had read an advertisement offering a reward to anyone who caught influenza after buying the company’s smoke ball. Carlill bought the ball and caught influenza, since the offer was made to ‘the world at large’ it is capable to be accepted by anyone who learns of it, including Carlill. An acceptance must be made in acceptable form. In the case of emails, it is considered to have been received when it reaches an information system designated by the person to whom the email is addressed via s 13 electronic Transactions (Victoria) Act 2000 and equivalent legislation in other stated and territories. For the process of offer and acceptance to result in agreement, the terms of the offer must be accepted without suggesting changes. For example, in Olley v Marlborough Court Ltd (1949) 1 KB 532 Olley had her furs stolen in the hotel, and there was a notice in the room notifying that the hotel was not held accountable for stolen goods. This notice was not part of the agreement as it was not in the initial contract and therefore the hotel was made liable. Step Three The review of whether an agreement has been reached between both parties involves determining the requirements of an offer and acceptance have been met. Firstly, for an offer to exist, it must be intended to result in a contract is accepted. The advertisement made by Games Travel Ltd is not viewed as an offer by the courts because advertisements are not intended to signal a readiness to be bound, but rather an invitation asking customers to make an offer to buy. Secondly, for the requirements of an acceptance to exist, it must be in the same terms of the offer. If the advertisement were to be seen as an offer, the terms agreed on would be $1000 for the tickets and tickets to the finals in swimming, archery and gymnastics. Jon only authorized the payment of $1000 as the terms on the offer expressed. As the terms had changed after he had authorized payments, there were no tickets to the gymnastics, which made the offer invalid. Lastly, for the process of offer and acceptance to result in agreement, the terms of offer must be accepted without suggesting changes. The change from $1000 to $2000 breached this requirement. An attempt to accept an offer on different terms should have been constructed as a rejection of the original offer and the making of a counter-offer. Step Four Due to not meeting the requirements of an ‘offer’ through not being intended to result in a contract if accepted, and not meeting the requirements of an ‘acceptance’ by not being in the same terms of the offer, there is no legal binding agreement between both parties and Jon is not obliged to pay $2000 for the plane tickets as there is no authorization for $2000, rather $1000. Question b) Step One The area of law relevant to this question is the review of a contents of a contract enforced between two parties. Step Two There are particulars to a contract which structure its existence. This includes the importance of terms within the contract, the freedom of contract, statements that do not become part of contract, and terms of contract. Within a contract consideration must be made to the creation of the contract. The terms of the contract define the obligations of the parties. It is by analysing the terms that you can find out what has to be done to discharge those obligations. For example in Cehave NV v Bremer Handelsgesellschaft mbH [1976] QB 44; [1975] 3 All ER 739, the buyer Cehave did not want to accept the delivered goods because they were not in ‘good condition’ although they were in satisfactory condition to perform their purpose which was to be used as animal feed. Freedom of contract is the freedom of individuals to bargain among themselves the terms of their own contracts, without external interference. People can negotiate effectively in their own interest and both parties negotiate from a position of equal strength. Limits included on freedom of contract are illegal undertakings not enforceable, such as anything more than minimal regulations and taxes may be seen as infringements. Policy considerations may limit freedom of contract. There are certain statements that do not become part of the contract but are said in negotiations. This includes puffs, opinions and representations. Puffs are statements of exaggerated praise to excite buyers and encourage sales and are without any real or measurable substance. Opinions are statements of personal views or beliefs and should not be relied on as it may be incorrect. If a person misrepresents their true opinion, their statement is treated as a representation. Representations are statements often made to encourage the other party to enter the agreement, without intending that they be contractual promises. For example Oscar Chess Ltd v Williams [1957] 1 All ER 325, the car dealer sued Williams for breach of contract due to the car age document being false. The courts decided the document was a mere representation rather than a contractually binding promise. The terms of a contract describe the entire contents of a legally enforceable agreement. Terms are ‘express’ when they have actually been declared or definitely stated. There are disagreements over whether particular terms have been included in the contract or not. For example Causer v Browne [1952] VLR 1 the statement on the docket was not seen as contractual terms as it was only an identifying docket. A term may also be ‘implied’ into a contract when that term was intended to be part of the contract without being expressly stated or referred to. It can only be implied if it is obvious that the parties had intended to include the term as part of their agreement. Implied terms must be reasonable and fair, be capable of clear, unambiguous expression and it must not contradict any express terms. In Codelfa Construction v State Rail Authority of NSW (1982) 149 CLR 337 Codelfa tried to claim extra payment for the extra costs incurred due to stopping and starting work overnight. The courts rejected this as there was no such term implied that would see unforeseeable stoppage to work and compensation paid out. A breach of contract that causes loss gives rise to a claim for damages. If sufficiently serious, a breach may justify a claim to damages plus a refusal to accept performance. To evaluate the seriousness of a breach various terms are distinguished and some terms are described as ‘conditions’ and the others ‘warranties’. Conditions are terms of fundamental importance to the agreement, whereas warranties are terms of lesser importance than conditions. In a breach of condition an injured party can terminate contract and/or sue for the damages. Whilst in a breach of warranty the injured party can sue for damages. In Associated Newspapers Ltd v Banks (1951) 83 CLR 322 Bancks, the cartoonist had the right to terminate his contract as the promise to publish Blancks drawing’s on the front page of the comic section was a condition term. Step Three Identifying the content of the contract between Jon and Games Travel Pty Ltd shows that there are express terms that exist within the contract. For example, the two tickets for the price of one, and the tickets to the finals in the swimming, archery and gymnastics. These terms are contractual terms and must be carried out as specified by the agreement. The terms sought throughout the contract are categorised as warranties, as they are not terms of fundamental importance. Such terms are the swimming tickets, where Jon had received men’s event and not the women’s. Also, the ticket price was doubled when charged, the initial contract was $1000 which is a warranty term. Terms that are conditional are the actual flight to the Commonwealth Games in India. Breaches of Warranty terms such as the swimming ticket and $2000 charge would be a breach of contract. In such a case, the remedy available for breaching warranties are to claim for damages only. This would include $1000 which Jon was overcharged. Step Four In conclusion, through analysis of the contents of the contract a breach of warranty has arisen. The remedy of such can include a sue for damages incurred.

Essay on Venture Capital †Motivations For Corporate Venturing

1. Introduction Traditionally, the interest of companies in creating venture funds was influenced by the venture capital climate. Increased rates of corporate venturing activity recorded in the 1960s, 1980s, and 1990s were in correspondence with the flourishing venture capital investments (Narayanan et al., 2009). Despite the deterioration in private equity investment owing to the fall of the dot-com sector in early 21st century, corporate venturing is still considered to be an important business activity in large business organisations (Gailly et al., 2014). However, corporate venturing is marred with complexity including the disconcerting array of existing corporate venturing forms (Guerrero & Pena-Legazkue, 2013). As Garg (2013) argues, for many years, large business organisations have been cautious about the idea of corporate venturing. Some have witnessed a failure of their venture initiatives while others have given up so easily. Generally, the lifespan of corporate venturing initiative is aro und one year (Basu & Wadhwa, 2013). Even business organisations with a strong capital base have struggled to utilise knowledge that is gained from start-up initiatives (Basu et al., 2011). Certainly, it is not easy to run a corporate venture capital successfully. However, as the rate of discontents in research and development increase, corporate venturing is gaining respect and appreciation in the business world (Masulis & Nahata, 2009). To clearly position the reasons that motivate organisations to consider corporate venturing, it is imperative to analyse the concept of growth and development as a result of the effectiveness of research and development initiatives at the organisational level. 2. Venturing and Firm Innovativeness Ideas that are innovative can be produced via internal R&D or access externally through activities such as corporate venture capital initiative. Companies must not limit themselves to in-house R&D as a source of innovativeness. In spite of the high prevalence of internal R&D as a source of innovativeness in many business organisations from a historical perspective, a decision to limit an organisation to sourcing its innovativeness from internal R&D has its limitations (Srivastava & Agrawal, 2010; Guerrero & Pena-Legazkue, 2013). As research on economic-based industries suggests, monopolies lack efficiency which results in the costs associated with inefficiency being passed down to the final consumer (Narayanan et al., 2009; Napp&Minshall, 2011). This idea is also recognised in corporate entrepreneurship research. Specifically, Gaba and Bhattacharya (2012) argued that elevated R&D expenditure at the organisational level is an indicator of internal inefficiencies and elevated agency co sts rather than successful innovative initiatives or antagonistic risk-taking approaches. Therefore, it is necessary for corporations to eliminate the monopoly enjoyed by their R&D units. Economics positions the existence of competing players as a source of efficiency when compared to a monopoly state (Basu et al., 2011). At organisational level, structuring of corporate innovative initiatives can be realised through the development of several R&D centre or supporting various technological initiatives through approaches such as corporate venture capital. Furthermore, research has raised concerns over the possibility of collusion pitfalls in cases where the number of players is limited (Napp & Minshall, 2011; Basu & Wadhwa, 2013). This can be addressed by offering a significant geographical dispersion of R&D centres. Indeed, according to Gaba and Bhattacharya (2012), having numerous research sites that are geographically distributed enhances corporate innovativeness by providing assistance in disabling organisational inertia, offering variety, and ultimately speeding up th e development of new capabilities and technological advancement. The option of multiple technological activities that is founded on corporate venture capital initiatives is also common among various leading companies on a global scale in the recent past. A decision to introduce the concept of competition in processes that generate organisational innovativeness has been found to eliminate inefficiencies in organisational innovativeness activities (Maula et al., 2009). Agency theory emphasises on inefficiencies that emanate from contracting associations between a firms engaging another firm to undertake certain activity on its behalf, which entails a decision to delegate a significant decision-making authority to an agent (Srivastava & Agrawal, 2010). The consideration, in this case, is that both players in the contract are rational, self-interested, risk-averse, and opportunistic. Consequently, the opportunistic behaviour of the agent may not be in agreement with the best interests of the principal (Garg, 2013; Bruneel et al., 2013). The agent†™s opportunistic behaviour is manifested via adverse selection, moral hazards, and hold-up (Cumming & Johan, 2010). In addition, any form of misalignment that exists between the principal’s and the agent’s interests implies enduring loss by the principal (Maula et al., 2009; Souitaris & Zerbinati, 2014). A typical situation where an agency problem is applicable is the case of a relationship between business managers and owners (Cumming & Johan, 2010). However, this situation can easily be applied to the relationship between a firm’s R&D unit and its top management. In this case, the internal R&D unit is positioned as an agent of the firm’s top management that is involved in technical advancement. Therefore, selection process that is adverse may be a significant issue if the R&D unit initiates a project that extends beyond its expertise. The issue of moral hazards is common in cases where actions taken by an agent cannot be verified which is a common occurrence in complex research and development projects, where observable results rather than behaviours that cannot be verified is the solution (Narayanan et al., 2009). Hold-up challenges may emerge when internal projects that are not successful are not suspended from corporate funding even when the outcomes are useless in spite of significant corporate expenditure. Therefore, a decision to create a corporate venture capital initiative is a solution to some of the problems associated with agency challenges. Specifically, corporate venture capital plans provide internal R&D units with a significant challenge over their monopoly on generating organisational innovation. According to a research done by Basu et al. (2011), challenging the monopoly by internal R&D unit on innovation production has assisted several business firms to directly move into successful business initiatives that would have been assumed under normal internal R&D situation. As much as corporate venturing is considered to be dangerous due to the threat of opportunism (Garg, 2013), a decision to limit innovative activities to internal R&D unit is more problematic (Cumming et al., 2009). The challenges associated with monopolies are just part of the challenges. Without sufficient level of diversity, strategic renewal, which is considered a major entrepreneurship, can never be reali sed. Development of corporate venture initiatives is, therefore, significant in minimising moral hazards and adverse selection (Maula et al., 2009). Allocating an organisation’s funds to a corporate venture is a significant threat to the availability of funds that can be applied in internal R&D projects, which spurs competition based on the economic perspective analysed above. 3. Motives that Drive Corporate Venturing Research has established that a corporate venture capital fund is more flexible, can move faster, and is generally cheaper when compared the conventional research and development in assisting an organisation in the process of responding to changes in business models and technologies (Maula et al., 2009; Napp&Minshall, 2011). According to Garg (2013), such a fund can be used in the process of stimulating demand for a firm’s products. Furthermore, corporate venture capital is an investment that may earn a company a return that is attractive. It is, therefore, a tool that is used by a firm in capturing ideas that ultimately influence the future of an organisation. There are various benefits that come with venture capital including faster response, better analysis of business threats, easier disengagement, enhanced investment impacts, increased demand, and higher returns.3.1. Venturing and Business ResponseThrough offering an inside perspective of new technological areas as well as an approach that can lead to possible ownership and use of novel ideas, corporate venturing allows businesses to swiftly respond to changes in the market. In a study done by (Narayanan et al., 2009) about venturing initiatives, it was established that companies that were able to make successful financial investments experienced better success levels. Consequently, such development capabilities that are experienced under venture capital initiative take a longer period of time to be realised if done by a firm on its own and is generally more expensive (Souitaris & Zerbinati, 2014). Given the resources and time needed to modernise research facilities and recruit researchers with the right skills and expertise, expanding a firm’s internal research and development can be generally painstaking (Phan et al., 2009).3.2. Venture Capital in Threat ManagementVenture fund can be used by an organisation as an approach to gathering intelligence, which assists the firm in protecting its elf from emerging threats to its competitiveness in the market. For instance, Analog Devices, the silicon-chip specialist formulated a venture program in the 1980s focused at investing in a variety of competing technologies (Basu et al., 2011). The goal, in this case, was to collect strategic information at a lower cost. The process resulted in a discovery that it was difficult and expensive to make chips using non-silicon materials. This resulted in a hike in Analog’s market valuation. In this case, the decision to utilise corporate venturing program offered the company a source of insurance. In this case, if the alternatives that the company had opted to explore had been viable, it was covered from the risk of being faced out of the market by its competitors. Conventional approaches to research and development does not offer data that can be used in predicting sources of competitive forces. Specifically, most corporate research and development units focus on projects that a re narrow which can result in neglect of areas that can cause a significant disruption from external competitors. Accordingly Phan et al. (2009) argue that most business managers in firms with versatile internal R&D functions face challenges when it comes to determining whether their companies are blindsided with regard to new innovative developments that may threaten their competitiveness3.3. Venturing and Easier DetachmentAnother positive aspect of venturing that is related to the ability of a firm to speed up its response to threats and change is that it offers organisational management a faster approach to detach from investments that appear to be doomed to fail. In particular, many firms find it challenging to abandon innovations that are not very good but are developed internally (Rohrbeck et al., 2009). Such projects can remain in a firm’s product development for many years resisting termination. This can well be illustrated by Nokia’s continued focus on develo ping its mobile phones based on the Symbian operating system even when most of its competitors had opted to go into free fall, which negatively affected the competitiveness of Nokia in the market. The relationship that exists between firms and their venture funds which is arm’s-length is advantageous in this respect. In particular, as much as a firm may be reluctant to terminate an initiative that is unpromising, the presence of co-investors provides a platform for forcing the decision.3.4. Venture Capital and Increased Impacts of InvestmentVenture Capital provides business firms opportunities for combining their capital with other venture capitals, which results in the magnification of the effects of an investment to a firm. These benefits are particularly apparent in cases where technological uncertainty is significantly higher. The iFund, which was supported by Apple Company and introduced in the market by Kleiner Perkins Caufield & Byers, a venerable VC firm, provides an illustration of this case. This investment enabled Apple to build applications for its new mobile phone products at the lowest cost possible. This was in contrast to the case of Nokia, which was a major market rival to Apple Company whose operating system, Symbian was unsuccessful and very costly. As a result of the success of the iFund, similar such initiatives have been positioned by many other companies including famous venture capital developments such as Facebook and Research in Motion.3.5. Venturing and Market DemandVenture firm provides a firm with several sources of leveraging. This can be illustrated by the iFund case. In particular, a decision by venture capitalists to promote the development of technologies that were reliant on the parent firm business platforms results in increased demand for the firm’s products. This approach was considered by Intel Capital in the late 1990s when it founded a capital that speeded the adoption of Intel’s next generation c hips in the market (Rohrbeck et al., 2009). This fund was invested in numerous hardware and software makers who were mostly Intel competitors and their products capitalised on the power presented by the new chip developed by Intel. These investments resulted in the accelerated adoption of Intel chip within a short period of time. Intel capital was also involved in seeding firms that were developing wireless internet products founded on a platform that had been championed by Intel. This resulted in rapid adoption of wireless products from Intel in the following years, which illustrated the success of the company in applying corporate venturing in creating a network of wireless actors.3.6. Venturing and ReturnsResearch has also established a financial benefit that is associated with venturing. Specifically, the main objective of any venture capital initiative is to generate revenue for the partners. With regard to corporate venture capital, the main goal is gaining a strategic advant age in the market, which ultimately culminates in increased profitability as much as the initial income generated as a result of the venture itself is insignificant with regard to the bottom line of corporate firms (Masulis & Nahata, 2009). Business organisations introduce value in start-ups that they find, which is commonly in the form of resources, skills, and reputation (Phan et al., 2009). This also changes the perception of the new entity’s prospects in the face of external investors. Public and private equity investors generally believe that start-ups that are founded on venture capital will be absorbed by the investors at an attractive valuation. Accordingly, Basu et al. (2011) established that business start-ups that are funded by corporations are more likely to attract more attention among high-quality players in the market when compared to ordinary start-ups. It also emerged that such start-ups that are backed by corporate venture funds have a better performance wit h regard to stock price when compared to those that are backed by traditional investment groups. 4. Conclusion The analysis of the corporate venture capital and its significance in the business world demonstrated a clear picture of its implication in growth, development, and competitiveness of business organisations in the wake of a globalised business environment. Specifically, it was apparent that corporate venture capital initiative could be applied by business organisations in increasing their innovativeness and the general firm efficiency and ultimately their competitiveness. Consequently, corporate venture capital initiatives demonstrate entrepreneurial aspects that are associated with significant effects on business corporations. Consequently, based on the deeper analysis of the strategic aspects of corporate venture capital investments, this paper has affirmed that it plays a strategic role in competitiveness and sustainability of corporate entities in the contemporary business settings hence an attractive initiative in most corporations. 5. References Basu, S., & Wadhwa, A. (2013). â€Å"External venturing and discontinuous strategic renewal: An options perspective.† Journal of Product Innovation Management, 30(5), pp. 956-975. Basu, S., Phelps, C., Kotha, S. 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No Child Left Behind Is it Working Essay Example | Topics and Well Written Essays - 2500 words

No Child Left Behind Is it Working - Essay Example Many children in the United States experience reading failure. According to the National Assessment f Educational Progress (NAEP) on reading in 2003, thirty-seven percent f fourth graders are reading below the Basic Proficiency level. This is the same level f failure that was reported in 1992 (Making NCLB work) Under this plan, all public schools students must be proficient in reading and math by the year 2014. Only students in second grade and beyond are required to test. In grades three through eight and once during high school, reading and math development will be calculated yearly. Testing in science will also be conducted by the end f the 2007-2008 school year. By the end f the 2005-2006 school year, teachers will also be required to be "highly qualified" (Wikipedia) According to this program, a highly qualified teacher is defined as an individual who has fulfilled the states' qualifications and licensure requirements. New teachers entering this field are required to acquire at least a bachelor's degree. If they will be teaching at an elementary school, they must pass a test known as the California Subject Examination for Teachers (CSET) and the California Basic Education Skills Test (CBEST). These tests replicate the subject matter understanding required to teach in California and demonstrates proficiency in basic reading and writing, mathematics and English. Teachers that are not new must pass a test in which state they teach in that demonstrates their subject understanding and teaching abilities. Each state has a curriculum structure. Each one summarizes the course f study by local school districts. This is how they develop programs directing state and local textbook adoption processes. Most states' average curriculum consists f English Language Arts, Mathematics, History/Social Science, and Science. Many states have no adopted standards in the remaining vicinities f curriculum such as foreign language, Physical Education and health. Each year schools, school districts, and the state must make adequate yearly progress (AYP). For Unified school districts K-12, 23.0% f their students must score proficient or above in ELA and 23.7% must do so in math. By the 2007-2008 school year, 34.0% must score proficient or above in ELA and 34.6% in math. Scores must improve annually with the same goal f 100% proficient or above by the 2013-2014 school year. States need to develop standards-based tests in science by the 2007-2008 school year (California School Accountability System under the Federal NCLB act). Under the accountability provisions, states must explain how they will close the achievement gap by making certain that all students reach academic proficiency. States must also generate annual state and school district report cards that notify parents and the surrounding communities regarding the state and school progress. Many states are requesting authorization to change the amount f students whose scores do not have to be calculated in required racial categories. Test scores are required to be reported by group such as race, disability, or economic circumstances. By law if one group f students fails to meet the standards, the whole school

Administration Decisions Essay Example | Topics and Well Written Essays - 1750 words

Administration Decisions - Essay Example A school can function to the fullest if the families and the community it is established are involved. One type of school, a community school is unique in that it includes in its program an integrated model that considers stakeholders in the community such as partners, administrators, teachers, parents and students (Jacobson, Hodges, and Martin 18). A community school does not only uphold the academics and youth development, but also support for the family, grant of social services and development of the community as a whole (18). In working with partners, a school community recognizes the different needs of students both in academic and non-academic spheres (20). Thus, the school site team works toward the alignment of activities with the vision of the school. The partners in turn work in congruence with the total improvement plan of the school (20). The role of the principal in the school and the community cannot be overemphasized. The principal must be aware that the community sch ool belongs to the community and should interact with the latter for total success (20). In connection with this, the principal should welcome the resources offered by the stakeholders and partners of the school (20). ... The School of Cooperative Technical Education (under the NYC Department of Education), on the other hand, provides career training for skills development to grades 11 and 12 students. The CAS Bronx Family Center also provides holistic physical, dental and mental health diagnosis to both students and parents of Fannie Lou. The health educators of CAS advise students on health and preventing pregnancy. The social workers based in the school provide mental health advises and intervention services during crisis. The school gives emergency relief to the family of a student who is evicted from home. The Oyler Elementary School (in Cincinnati, Ohio) was converted into a community school that includes high school offering. This was made possible through the partnering of families and members of the community with the Cincinnati Public Schools (20). The transformation of the school into a community school that allowed it to offer a K-12 program enabled students to enroll in high school for th e first time. Previously, no student in the neighborhood was able to avail of high school education. The Cincinnati Health Department has a clinic inside the school so that students can avail of health, dental and vision care services (21). Mentoring and tutorial services are given by more than 400 volunteers who visit the school weekly to students on an individual basis. The school also partnered with the Cincinnati Early Learning Centers and other partners to provide support to infants, children and their parents. In Glencliff High School, transforming it into a community school set up has allowed it sponsor numerous programs together with its partners, such as the

Leeds Bradford Airport Essay Example | Topics and Well Written Essays - 1500 words

Leeds Bradford Airport - Essay Example Primarily, promotion is aimed at informing the clients the existence of a new product or service in the market (Peterson et al, 2010, p.168). It also appeals to the customers that the products and services to be introduced into the market are better that the ones that have been existence. A number of procedures are available that can be used by the organization to help win customers to its new flight services. These include advertisement, sales promotion, public relations, publicity, and personal selling (Harper, 2003, p.108). An effective promotion by the new budget airline will require an integration of these different approaches into the operations of the organization. Advertisement Advertisement refers to providing information to the targeted clients on the availability of new services in the market. It also appeals to the customers by pointing out the desirable qualities of the new services that distinguishes them from other services available in the market. Advertisement can be done through different media. These include print media (newspapers and magazines), television, radio, internet, or public service advertising. In choosing the medium to use for advertisement of services, the company has to understand the medium that is common among the targeted customers (Harper, 2003, p.109). ... About 40% of the funds need to be set aside for advertisement in television. A larger proportion of the targeted customers are adults engaged in some activities during the day. Thus, these advertisements should be aired out in the evenings. Newspapers and magazines are also common and are effective in providing other details like the flight schedules. This medium should receive 20% of the advertisement funds. Many people have access to radio. However, the advertisement through radio is often less reliable since most people listen to radio while they are attending to other things. Drawing their attention to an advertisement may not succeed and it would require that the advertisement be replicated several times in order to e effective. This medium should be allocated 10% of the funds. The internet is increasing its popularity especially among the young adults and middle-aged individuals. It is more likely that the clients who would use the flight services have access to, and uses, inte rnet services. Internet advertisement should take 20% of the advertisement funds. The remaining 10% should be used for other advertisement means like direct mails to potential clients. Sales promotion Sales promotion activities involve providing incentives to the clients of the company to improve on the sales of the services. Sales promotion involves activities like promotional sports competition, sweepstakes, and sales coupons. One promotion initiative that can be used by the organization is to sponsor some annual or seasonal sports activity like soccer tournament for youths below the age of 23 years in the UK. Besides, the company should issue its flight tickets at much lower