Leadership Essay Example | Topics and Well Written Essays - 750 words - 37

Leadership - Essay Example This paper compares and contrasts the trait and situation approaches of leadership in terms of applicability and leadership competence. Certain types of qualities make leaders more successful while others deteriorate the effectiveness of their leadership. With the trait approach, leadership concerns itself with the leader’s ability to lead others at utmost efficiency. Examples of traits that include a leader’s decisions are intellect, self-assurance, integrity, and strength of mind. As a result, leadership applicants frequently take personality evaluation exams to identify their best qualities. The primary premise of the situational approach is the influence of leadership processes and skills by situations. Developed by Hersey and Blanchard in 1969, the situational approach is a product of the three-dimensional management style hypothesis. The following paper argues that the trait approach of leadership is more applicable than the situational one because the leader’s qualities matter more than the situation or followers in terms of leadership successfulness. The trait approach is most applicable and helpful because it backs the overall image of leaders being a special type of individuals in society (Daft, 2014). This image popularizes the notion that leaders do extraordinary things, which is important. Society has to view leaders as talented individuals, and the trait approach facilitates this view. Another reason is that the trait approach has extensive scientific literature to support its credibility (Daft, 2014). I find research findings more reliable sources of support than mere uncited information. The trait approach also concerns with just the leader and comprehensively analyzes his or her qualities in the leadership procedure. A fourth reason is the criteria set by the trait approach that new leaders can easily adopt. Fifthly, I find the trait approach a naturally agreeable

Hybrid Vehicles Essay Example for Free

Hybrid Vehicles Essay The 21st century is considered as the time for more advance development and innovation of the human society. Prior to this era, mankind has already been busy with making ground-breaking design to significantly improve how people live their lives. However, due to changing times, these actions have resulted to some consequences that initiated changes for the better and for the worse. Some of the changes that have transpired in the past nine years since the commencement of the 21st century are the occurrence of global warming and the recently devastating global financial crisis. Evidently, these problems have been caused by humans but they are aware that these crises exist. Because of their realization, many learned as well as ordinary individuals have drafted solutions on how to mitigate the effects and even eradicate the problems at hand. In relation to the growing threat of climate change and fiscal recession, experts have devised a simple apparatus that would address these two problems. This wonder solution is the hybrid vehicle. Nowadays, it is common knowledge that global warming is mainly caused by the emission of harmful gases in the earth’s atmosphere. More so, the increase in oil prices has been one of the major factors for the decline of the US economy. Through the hybrid automobile, these alarming causes can be directly dealt with if this type of automobile will be utilized for public transportation. By doing this, the production of carbon emissions can be greatly reduced, fares would significantly decline and use of gas would be lessened thus helping millions of commuters to save money and at the same time the environment. A hybrid vehicle is a specific kind of automobile that has â€Å"two or more major sources of propulsion power. † This vehicle is usually made out of a â€Å"conventional gasoline and electric motor. † These two parts are the source of power for a hybrid which means that gas and electricity or any other renewable energy such as â€Å"hydrogen, propane, CNG and solar energy† are simultaneously used to run the vehicle. As a result, fuel â€Å"efficiency, increase in horse power, longer driving range and reduced greenhouse gas emissions† can all be accomplished by one single machine (What-is-what. com, 2007). In comparison with regular and other green cars available in the market, the hybrid vehicle is more beneficial to use. Hybrid vehicles can only accumulate an â€Å"average of 33 to 60 miles per gallon during city driving and 27 to 68 miles per gallon in highway driving. † According to the Environmental Protection Agency, these numbers are way better than the performance of other types of vehicles. This only shows that by using hybrid vehicles, users can definitely reduce their gas expenses. In a year, this type of vehicle can consume only $600 to $700 worth of gas which is lower to the average cost of $2000 annually using ordinary vehicles. Also, a hybrid is only low maintenance due to the fact that it utilizes less gas which results to less strain on the engine. Furthermore, the battery is another major part of the hybrid that supplies energy to the motor. This power source can be regularly drained and recharged but need not to worry about its durability because it was made to withstand various problems. Also, most manufacturers offer warranty just in case it wears out (Green Living Answers, 2009). In contrast with electric cars, a hybrid has smaller batteries which do not require constant charging. In addition, using electric cars can cause some drawbacks such as â€Å"availability of charging stations, lack of range, low top speed, and lack of acceleration† (Halt, 2009). Moreover, there are numerous initiatives pioneered by the government and business establishment in order to provided monetary incentives and perks to hybrid users. First, the â€Å"Federal Tax Credits for Advanced Vehicles† which entails â€Å"new tax credits for advanced vehicle technologies ranging from $250 to $3,400 depending on the vehicles level of fuel economy improvement. † Second incentive is giving out discounts for auto insurances on hybrid vehicles. Third, hotel discounts are given to users of hybrid vehicles (Union of Concerned Scientists, 2007). Given all these facts, it is apparent that hybrid vehicles can bring positive changes to the current global situation. By employing this innovation on a large scale, revolutionary transformation can immediately be seen and felt by the public. In this case, the looming threat of climate change and oil price hike can be alleviated by using Hybrid vehicles for mass transportation. References Green Living Answers. (2009). Hybrid Cars vs Regular Cars. Retrieved May 4, 2009, from http://www. greenlivinganswers. com/hybrid-vehicles/hybrid-cars-vs-regular-cars Halt, G. (2009, March 19). Electric Cars Vs Hybrids. Retrieved May 4, 2009, from http://ezinearticles. com/? Electric-Cars-Vs-Hybridsid=2120736 What-is-what. com. (2007, November 2). What is a Hybrid Vehicle? Retrieved May 4, 2009, from http://what-is-what. com/what_is/hybrid_vehicle. html Union of Concerned Scientists. (2007). State and Federal Hybrid Incentives. Retrieved May 4, 2009, from http://go. ucsusa. org/hybridcenter/incentives. cfm

Feminism in Jane Austen Essay -- essays research papers

Feminism in Jane Austen "I often wonder how you can find time for what you do, in addition to the care of the house; and how good Mrs. West could have written such books and collected so many hard works, with all her family cares, is still more a matter of astonishment! Composition seems to me impossible with a head full of joints of mutton and doses of rhubarb." -- Jane Austen, letter of September 8 1816 to Cassandra "I will only add in justice to men, that though to the larger and more trifling part of the sex, imbecility in females is a great enhancement of their personal charms, there is a portion of them too reasonable and too well informed themselves to desire any thing more in woman than ignorance." -- Northanger Abbey "...when a young lady professes to be of a different opinion from her friends, it is only a prelude to something worse. -- She begins by saying that she is determined to think for herself, and she is determined to act for herself -- and then it is all over with her" -- the character of Mrs. Stanhope in chapter 6 of Maria Edgeworth's Belinda [Here basically "friends"="family"] Jane Austen a feminist? That has not been the traditional view (in 1870, Anthony Trollope declared that "Throughout all her works, a sweet lesson of homely household womanly virtue is ever being taught"), but once the question has been asked (which it was not, until relatively recently), it is not hard to see some feminist tendencies. Of course, Jane Austen is not a simple ideologue -- when a character in a Jane Austen novel makes a broad statement that seems to stand up for women in general, this is actually usually done by an unsympathetic character (such as Isabella Thorpe in Northanger Abbey or Mrs. Elton in Emma), and is not meant to be taken seriously. In Pride and Prejudice the main example is Caroline Bingley's statement to Darcy that "Eliza Bennet is one of those young ladies who seek to recommend themselves to the other sex by undervaluing their own, and with many men, I dare say, it succeeds. But, in my opinion, it is a paltry device, a very mean art." Here Caroline Bingley is "undervaluing" Elizabeth, and Darcy sees through her easily. Conversely, Henry Tilney's teasing remarks on the subject of women during the walk from Bath to Beechen Cliff in Northanger Abbey are no... ...in my life which had not something to say upon woman's inconstancy. ... But perhaps you will say, these were all written by men." Anne Elliot: "Perhaps I shall. -- Yes, yes, if you please, no reference to examples in books. Men have had every advantage of us in telling their own story. Education has been theirs in so much higher a degree; the pen has been in their hands. I will not allow books to prove anything." Northanger Abbey not only contains the "Defence of the Novel", but what has seemed to me to be a strong statement -- Catherine Morland's faux-naà ¯f declaration: "But history, real solemn history, I cannot be interested in... I read it a little as a duty, but it tells me nothing that does not either vex or weary me. The quarrels of popes and kings, with wars or pestilences, in every page; the men so good-for-nothing, and hardly any women at all -- it is very tiresome." Here the last sentence is as succinct a summary as one could wish of the objections of feminist historiography, social history, and/or the Annales school to the traditional "Great Man" theory of history. (See also Jane Austen's own farcical History of England.)

Song Symbolism Essay

The song â€Å"Firework† by: Katy Perry has a lot of symbolism. With her beautiful voice, and to her amazing lyrics, people can really relate to what she is saying. From her lyrics in â€Å"Firework† I was able to pull out three lyrics that I think have the most symbolism. â€Å"Do you ever feel like a plastic bag, drifting through the wind wanting to start again? †, â€Å"Cause baby you’re a firework, come and let your colors burst†, and â€Å"You don’t have to feel like a wasted space, you’re original, cannot be replaced† are the three lyrics that stood out to me the most with the most symbolism.In the song â€Å"Firework† by: Katy Perry, her imagery and similes give the song more depth and emotion. â€Å"Do you ever feel like a plastic bag, drifting through the wind wanting to start again? † is one of the lyrics from her song. In this section of lyrics the plastic bag symbolizes worthlessness, wasteful, or usele ssness. Drifting, symbolizes searching or feeling lost. Wanting to start again symbolizes wanting to start over. These lyrics mean that someone feels worthless and lost and wants to start their life over.But Katy Perry shows through her emotion in her voice that no one is worthless, or wasteful. The thought of fireworks reminds someone of the 4th of July and the dark night sky being lit up with thousands of colors. When Katy Perry sings about fireworks, she thinks of expression. â€Å"Cause baby you’re a firework, come and let your colors burst† is the chorus in the song. The fireworks symbolize personality and emotions. The colors bursting symbolize that a person is not afraid to show who they really are.These lyrics mean that people have their own emotions and personalities and that they should not be afraid to show who they really are. Again, Katy Perry’s lyrics make a person feel important as an individual. â€Å"You don’t have to feel like a wasted space, you’re original, cannot be replaced† is one of the most important lyrics. The wasted space symbolizes nothing or emptiness. Original symbolizes that no one is or ever will be exactly the same. The lyrics mean that a person doesn’t have to feel like they are nothing because there is nobody that is the same as them so they are unique.Katy Perry is an expert when it comes to self expression and individuality. Katy writes her lyrics filled with powerful and inspirational similes, metaphors and of course symbols. She tells an important message through her music. The message is that a person should not feel worthless and even though they are original they are unique and special in their own way. She understands people’s feelings and emotions and writes about them to show people that they are not alone. Katy is an inspirational song writer and icon for many.

Dippin Dots UK

Case 34: Dippin’ Dots Ice Cream and Coffee? 1) What elements in the external environment might affect Dippin’ Dots’ strategy? * The threat of new entrants into the industry creates more competition. * The power of the suppliers and buyers. As the present competition and potential new competition in the â€Å"frozen desserts† segment, have a major effect externally. * There are already substitutes to the Dippin’ Dots’ products, but there is still threat of new substitutes. * Intense rivalry is among Dippin’ Dots’; there are many imitators of this product. * Due to the market prices, the economy has a great impact on sales. ) What internal resources does Dippin’ Dots have that might help it support its competitive strategy? * A Unique Value Chain * Professional business connection with McDonalds. * The human intellectual knowledge was what separated Dippin’ Dots’ from others. * Jones was a microbiologist, * R& D is one major key in the Dippin’ Dots’ market, after all that’s how Mr. Jones started. * Example Mr. Jones developed the â€Å"microencapsulating†. * Entrepreneurial leadership was how Dippin’ Dots’ was created, and have leaded them to a creative mindset. * One of the 500 fastest growing companies, ranked #4 on the Entrepreneur magazine’s 2004 list. Total quality management lead to the quality of products and processes that Dippin’ Dots’ creates. 3) What is Dippin’ Dots’ competitive strategy, and what is the basis of its competitive advantage? * Total Quality Management: * The quality standards are maintained throughout the organization. * The overall product is a competitive strategy in itself. * Procedures, processes and resources needed to implement quality management, and are determined by the quality of the product, the satisfaction of the customer, cost analysis, revenue, and management performance. The Growth and Expansion * Interest is increasing for Dippin’ Dots’, and other entrepreneurs contacted Jones about opening up stores to sell. * Dippin’ Dots’ has grown into a multimillion dollar company gaining more dealers. * Franchise Dippin’ Dots’. 4) How has an entrepreneurial strategy and the management of innovation helped Dippin’ Dots establish its competitive edge? What challenges remain for Curt Jones? * Entrepreneurial Strategy * Family Business Model * Adaptive new entry * Ability to begin franchises, and get their names out there. * Management Innovations Incremental innovations through the development of new ways to make Dippin’ Dots’ even more of a threat. * Sustainability to be able to continue to grow their business. * Curt Jones got a patent for public disclosure of the invention. * Challenges for MR. Jones * There is always going to be completion that could impact the company, especially their popularit y. * Advertising can be an issue, there is a lack of it in the market, and is only marketed in certain areas. * Finding was to continue to make Dippin’ Dots’ rare and difficult to imitate, because so many frozen dessert companies are trying to come close to imitate the ice cream dots.

Freedom essays

Freedom essays Recently, there have been many crimes that have put our nation in a state of fear. School and work shootings, the 09/11/01 terrorists attacks, recent sniper shootings, and highly publicized kidnappings have had such a large impact on us that one is almost forced to feel that increased security is a necessity. How much security can be enforced before the risk of stepping on someones liberties becomes the new problem? If we do tighten security, how many liberties are we as a nation prepared to let go of? Also, before we agree to sacrifice too many of the rights that our forefathers fought for to guarantee us to be free, can you ever completely make a situation perfect? Is tightening security truly going to make our nation safe or will it make our nation controlled? Although it does not put our liberties at risks, think about how much privacy we really have in this day in age. There are very few stores that do not have cameras installed or people hired to follow their customers throughout the store. Most federal buildings look at your personal belongings through a machine. If we consider the personable content that women often carry in their purses it will be easy to see how awkward this can feel to a woman. Even if we take it to a basic level, in our homes we are often not even assured privacy. Many people have the knowledge to listen to our telephone conversations and to continuously monitor our activity on the computer. Many of these liberties are being threatened already. A perfect example of restriction of liberty in an attempt to have a stricter security is the situation with the schools not allowing parents in the classrooms. I recall when I was a young child and my mother would pick me up from school. It was a very simple process. She would let the secretary in the principals office know that she was there to pick me up and go to my classroom to get me. However, when I pick my child up from school, I do ...

Free Essays on Socrates & Crito

Topic: Does Socrates convince you (as he seems to have persuaded Crito) that an agreement obliges him to remain in Athens and face execution? Crito is a dialogue between Socrates and the title character in which both men discuss whether Socrates should or should not attempt to escape from an execution sentenced by the state of Athens. The scene is set a few days before the actual execution of Socrates is scheduled to take place. Crito approaches Socrates in his prison cell and attempts to persuade him into running away with the monetary and physical help of Crito and Socrates’ other friends and admirers. Crito gives a number of reasons why Socrates should run away basing his reasons around how Socrates should avoid harm (e.g. by running away, Socrates will avoid harming his friends and their reputation, his children, and so forth). Socrates is faced with making a decision in a limited amount of time (i.e. the decision to run away). Socrates rejects Crito’s reasons for running away, and then presents his own arguments about why running away would be committing a wrongful act. Before Socrates begins his two arguments, Crito concedes to Socrates’ assertion that if two parties have come to an agreement, then the agreement must always be held. By not upholding the agreement, one party is causing harm to the other. And, both Socrates and Crito believe that it is always wrong to harm another, in any situation. Socrates then begins to speak of his association with the laws. He states that if he were to run away, he would destroy the laws because he would leave the laws equivalent to nothing. If Socrates were to claim that the city had wronged him, and its decision was not right, the laws would reply that there was an agreement between Socrates and the nation of Athens (and its subsequent laws) which both parties had agreed to and as a consequence, the agreement required Socrates to remain in prison and serve his sentence... Free Essays on Socrates & Crito Free Essays on Socrates & Crito Topic: Does Socrates convince you (as he seems to have persuaded Crito) that an agreement obliges him to remain in Athens and face execution? Crito is a dialogue between Socrates and the title character in which both men discuss whether Socrates should or should not attempt to escape from an execution sentenced by the state of Athens. The scene is set a few days before the actual execution of Socrates is scheduled to take place. Crito approaches Socrates in his prison cell and attempts to persuade him into running away with the monetary and physical help of Crito and Socrates’ other friends and admirers. Crito gives a number of reasons why Socrates should run away basing his reasons around how Socrates should avoid harm (e.g. by running away, Socrates will avoid harming his friends and their reputation, his children, and so forth). Socrates is faced with making a decision in a limited amount of time (i.e. the decision to run away). Socrates rejects Crito’s reasons for running away, and then presents his own arguments about why running away would be committing a wrongful act. Before Socrates begins his two arguments, Crito concedes to Socrates’ assertion that if two parties have come to an agreement, then the agreement must always be held. By not upholding the agreement, one party is causing harm to the other. And, both Socrates and Crito believe that it is always wrong to harm another, in any situation. Socrates then begins to speak of his association with the laws. He states that if he were to run away, he would destroy the laws because he would leave the laws equivalent to nothing. If Socrates were to claim that the city had wronged him, and its decision was not right, the laws would reply that there was an agreement between Socrates and the nation of Athens (and its subsequent laws) which both parties had agreed to and as a consequence, the agreement required Socrates to remain in prison and serve his sentence...

4 Tips for Stand-Out Carnegie Mellon Essays

4 Tips for Stand-Out Carnegie Mellon Essays SAT / ACT Prep Online Guides and Tips Carnegie Mellon is ranked among the top 25 universities in the nation, so you’ll need to have an impressive application- with stand-out essays, of course!- in order to get admitted. Applicants must submita total of four Carnegie Mellon essays,three of which comprise the Carnegie Mellon supplement. Keep reading to learn what the current Carnegie Mellon essay prompts are, what topics you could write about, and what qualities make for a great Carnegie Mellon essay. Feature Image: Mathieu Thouvenin/Flickr What Are the Carnegie Mellon Essay Prompts? In addition to thepersonal statement you must write for the Common App (for which you get to select one out of seven possible prompts), Carnegie Mellon requires all applicants to submit three supplemental essays; theseessays make up the Carnegie Mellon Supplement. Applicants are not allowed to submit other supplemental materials with their applications, such as websites, artwork, or resumes. (Note that the only exception to this is ifyou’re applying to a school that requires additional materials, such as the School of Architecture.) Each essay may be up to 300 words long, making them a little shorter than your typical personal statement for college, which is usually around 500-600 words. So what are the Carnegie Mellon essay prompts? Let’s take a look: "When we‘re connected to others, we become better people," said Carnegie Mellon University‘s Randy Pausch, author of The Last Lecture. At Carnegie Mellon you‘ll have the opportunity to collaborate with a diverse community of scholars, artists and innovators. Given the students, faculty, staff and resources that have been available to you as a student, how have you collaborated with others, in or out of the classroom? Or, what lessons have you learned from working with others in the past, that might shape your experience in the future? Most students choose their intended major or area of study based on a passion or inspiration that’s developed over time- what passion or inspiration led you to choose this area of study? Consider your application as a whole. What do you personally want to emphasize about your application for the admission committee’s consideration? Highlight something that’s important to you or something you haven’t had a chance to share. Tell us, don’t show us (no websites please). As you can see, each Carnegie Mellon essay you must write will focus on something different about yourself.Specifically, you must explain the following in your essays: For Essay 1, how you have collaborated with others (on projects) For Essay 2, what you plan to major in and why For Essay 3, something you want to emphasize about yourself How should you write each Carnegie Mellon essay? We give you specific tips next. All Carnegie Mellon Essay Prompts, Analyzed In this section, we’ll go over the three Carnegie Mellon essay prompts in detail, giving you key tips so you can ensure your essays stand out from the rest of the crowd. Carnegie Mellon Essay 1: A Collaborative Experience "When we‘re connected to others, we become better people," said Carnegie Mellon University‘s Randy Pausch, author of The Last Lecture. At Carnegie Mellon you‘ll have the opportunity to collaborate with a diverse community of scholars, artists and innovators. Given the students, faculty, staff and resources that have been available to you as a student, how have you collaborated with others, in or out of the classroom? Or, what lessons have you learned from working with others in the past, that might shape your experience in the future? This first Carnegie Mellon essay prompt might appear complicated, but let’s try to break it down. What is this prompt really asking you to do? The first part of the prompt is explaining Carnegie Mellon’s diversity and ongoing commitment to fostering collaborative environments.Clearly, Carnegie Mellon strongly values teamwork and students' abilities to work well with others in order to produce interesting, successful projects. The second part of the prompt is the question (or rather the questions), which we can divide into three major ideas: Have you ever collaborated with others (such as students, teachers, etc.) on something? What did you learn about yourself from this experience? What kind of role do you think this experience play in your future? The first step to answering this prompt is to come up withone specific experience you want to write about.Here are some examples of potential topics: A group project you did for school, what role you played in that project, and what you gained from the experience. For example, did you delegate roles? Take charge to ensure everything was completed on time? Fix a major problem that almost compromised your project? A team sport you play or used to play. Was there a specific time you led others to success? Or maybe your team struggled to get along and you came up with a solution to get everyone to work together. A volunteer effort you worked on with others.Perhaps you assisted with a winter holiday food drive or raised money for a children's charity. What did this experience teach you about collaboration? A group task you must do for a part-time job. For instance, maybe you work at a video game store and must take turns with your co-workers in stocking new games and helping customers. Has this experience had an effect on how you approach or view teamwork? This is a great essay in which toemphasize your leadership skills if you assumed some sort of leadership role in a group project or activity. If you didn’t take on a leadership role, that’s totally OK- just focus on what role you did play on the team you were part of and explain what this experience taught you about working together to accomplish a shared goal. Another thing to remember is to be as specific as possible.Don’t be afraid to use people’s names and delve into your feelings about the project or activity you did with others. For example, maybe the experience you're writing about was a challenge in the beginning- maybe your group couldn't agree on a science project to do for the school science fair. However, onceyou had everyone write down their project ideas and share them with one another, your group was at last able to decide on a project idea. As a final tip for this essay prompt,be clear about how this experience has affected you and might impact your future (at Carnegie Mellon).Maybe that experience working on the group science project taught you the importance of giving everyone a say in the brainstorming process, so you’ll ensure this happens with any group projects you work on at Carnegie Mellon, too. Carnegie Mellon Essay 2: Your Intended Major Most students choose their intended major or area of study based on a passion or inspiration that’s developed over time- what passion or inspiration led you to choose this area of study? Though it might look a little wordy, all this Carnegie Mellon essay prompt is really asking is, "Why this major?"More specifically,this prompt wants you to relate the intellectual path you've taken by explaining the experiences, people, and/or events that have led you to want to major in this particular field. By far the most effective way to answer this prompt is to tell a compelling story about how you came to be interested in your intended major.Think about the most important moments from your life that showcase your love of what you want to study, and then write about those. For example, say you plan to major in musical composition.You could start off by recounting the first time you tried to write a piece of music on your family’s piano and how hard it was. However, you really enjoyed the process of creating something new. This prompted you toenroll in weekly piano lessons; you also continued to compose piano pieces in your spare time. As a sophomore, you decided to enteryour school’s talent show and ended up winning with a musical piece you’d composed. While you don’t need to stick to chronological order, using this organization ensures your essay is easy to follow and clearly illustrates how you progressed from someone who knew nothing about the field to someone now highly devoted to it. In addition, be sure to focus on not only how you became interested in your major but also how this journey of discovering your passion has affected you and your goals.For example, perhaps you want to major in architecture because you hope to use your skills to encourage eco-friendly living and therefore combat the effects of climate change. It’s also a good idea to mention, explicitly or implicitly, how Carnegie Mellon will help you accomplish your goals in your intended field.You could talk briefly about a particular faculty member in your field whom you hope to work with, an expensive piece of equipment offered at Carnegie Mellon, or specific professional opportunities available to students. Finally, be careful not to exaggerate.Don’t say you suddenly developed an interest in literature after reading The Great Gatsby for English class if you actually loathed the book or had a passion for literature well before then. It’s OK if there wasn't one single moment in your life that made you realize this major was the right one for you.Instead of acting as though some particular incident was more significant than it actually was, just focus on the overall journey you took to get to the point you’re at now- that is, the major you’ve chosen to pursue. What defines you? Carnegie Mellon Essay 3: Something Important About You Consider your application as a whole. What do you personally want to emphasize about your application for the admission committee’s consideration? Highlight something that’s important to you or something you haven’t had a chance to share. Tell us, don’t show us (no websites please). This essay prompt is the most open ended of the three and a great opportunity to really dig into any important attributes of yourself that you feel you didn’t get to write enough about or at all in other parts of your application. Did you write about something in another essay, such as the one you wrote for the Common App, that you wish to talk about more here?Do you want to write about something that’s important to you and that you haven’t had a chance to elaborate on yet? Your topics are pretty endless here- just make sure whatever you write about for this essay is revealing something important that you think the admissions committee should know about you. This could be a specific personality trait- maybe you want to emphasize your leadership skills by talking about your role as team leader at the local youth club- or something about your life that’s had a major impact on how you see yourself and your future. Here are some topics you could write about (but don’t feel limited by these suggestions!): A specific incident that holds importance for you, and what it taught you about your academic and/or professional interests, your goals, your personality, etc. Someone you know who has impacted you in a significant way, and how that person has specifically influenced your interests and/or goals An explanation for something that negatively impacted your grades or another part of your application- for example, perhapsyou spent a lot of time taking care of a sick relative during your sophomore year of high school, which caused your grades to dip slightly A particular interest, passion, hobby, or skill you have, and what you've gained, either intellectually or emotionally, from it Once again,don’t try to write about what you think the CMU admissions committee wants to read- be honest about what’s important to you and why.If you volunteered somewhere a few times but didn’t enjoy it or gain anything valuable from it, do not write about it here! Similarly,don’t be afraid to focus on something seemingly mundane. Just besure you’re using the topic you choose- even if it’s pretty commonplace- to ultimately reveal something important about you. So, no, it'sprobably not a good idea to write about how you spend hours on Instagram every day, since this hobby isn’t really revealing anything significant about you, your goals, or your personal growth. 2 Real Carnegie Mellon Essay Examples + Analysis In order to write a great Carnegie Mellon essay, it helps to see what kinds of essays actually got applicants accepted to this prestigious university. Here, we give youtwo real Carnegie Mellon essay examples we found online and explain what makes them successful. Note: This year’s Carnegie Mellon essay prompts are new, so the following essays are in response to older prompts with different word limits. Despite these differences, being able to see the kinds of stories successful applicants have told should give you a clear sense of what topics, details, and styles might work well for your own Carnegie Mellon admissions essays! Carnegie Mellon Essay Example 1 This first of the two Carnegie Mellon essay examples comes from the college essays website Essays That Worked.The essay is quite long- more than 650 words!- and was written in response to the following (old) supplemental Carnegie Mellon essay prompt: Why Carnegie Mellon University? And now here's the essay: As a child who hid behind her parents and never uttered a word whenever strangers were near, I was no stranger to people deeming me shy. As I got older, however, I found my voice more comfortably through music, through art, and through writing. Playing Mozart’s Violin Concerto in the Kennedy Center, for instance, unleashed a swell of emotions through the intricate art of storytelling with my violin. I was drawn to writing stories and sharing ideas with my peers, starting my editor career in fifth grade. Five years later, I co-founded my high school’s literary magazine, Muses, which provides a platform for all voices while fostering connections among students. I was twelve years old when an HTML class through Johns Hopkins University’s Center for Talented Youth program introduced me to a modern language of communication: computers and the internet. Falling in love with coding and website design, I utilized my newfound knowledge to design a website for my National History Day project, which won the school competition. In high school, I joined programming club, took the rigorous computer science classes, and designed Muses’ website. This year, I created a conceptual online boutique store, which won first place in Maryland Future Business Leader Association’s E-business competitive event. In the summer of 2016, I interned in an NCI melanoma research lab. This experience completely changed how I viewed the importance of technology to modern communication. We had obtained genotypes from thousands of melanoma patients and controls, but a new question arose: how could we extract the useful information from a massive data file, akin to finding a needle in a haystack? Under the guidance of a bioinformatician, I performed an association test between melanoma associated variants and survival outcome to identify the risk loci that might affect patient survival. Catering to the needs of the scientists, I wrote an app by R code that organizes and manages melanoma genotype information; extracting the information of a particular genotype and its association with melanoma was now a couple clicks away. From this work, I learned how to translate large data into solutions, while using the correct data format and data structure. I realized that modern technology not only helps us commu nicate more efficiently, but also provides a system upon which we can solve global problems. With a strong background in computer science and communications, I hope to incorporate both into a future career of building data systems, conducting research, and consulting for organizations that serve underrepresented citizens. One project I want to tackle is the modification of social media algorithms so that media created by minorities and/or for minorities will appear on users’ radars. The algorithm would analyze the user’s demographics and deliver news relevant to those traits, such as discoveries about Asian health issues showing up on Asian users’ feeds. Carnegie Mellon’s encouragement of interdisciplinary studies under the Information Systems major would allow me to accomplish this and so much more. As someone who attacks calculus and creative writing with equal enthusiasm, IS’ objective of providing students with a broad background in the humanities and sciences is very appealing. As someone who learned to work as a team in a research lab , I believe CMU’s emphasis on collaboration and student innovation would push me to further improve my teamwork and problem-solving skills. In particular, I hope to take advantage of CMU’s Technology Consulting in the Global Community program, receiving guidance from both CMU’s renowned faculty and international technology experts. To that end, the Social and Decision Sciences major, my second choice, would also prepare me to utilize similar decision-making and analysis skills to solve social problems. We live in a world where communication through technology connects communities across the globe, more so than ever before. The future of exploration and innovation requires us to develop efficient ways of communication- we need a combination of scientific expertise and knowledge grounded in the humanities to accurately convey ideas, solve problems, and make the planet a better home for us all. An education at Carnegie Mellon would propel me in this endeavor. Here’s why this Carnegie Mellon essay works so well: It has an honest, compelling narrative that flows well. This applicant begins by explaining how they've always been considered shy yet how, through various endeavors in fields such as writing, communication, and technology, they've managed to transcend this assumption. This story is raw and honest, and it highlights the applicant's most notable accomplishments in an appropriate and relevant manner. It’s extremely specific. The applicant uses concrete details to explain their background and why Carnegie Mellon is an ideal fit for their goals and interests. In addition, the essay makes note of specific qualities of CMU, from its "encouragement of interdisciplinary studies" to its Technology Consulting in the Global Community program, giving us a clear indication of why the applicant is so interested in attending this school. Concrete details are essential for a good Carnegie Mellon essay. Carnegie Mellon Essay Example 2 This second Carnegie Mellon essay example comes from the website Free Test Prep (now called BWS Education Consulting) and is, like the essay above, quite long at about 600 words- that’s double the current word limit. It was written in response to the following (old) Carnegie Mellon essay prompt: Please submit a one-page, single-spaced essay that explains why you have chosen Carnegie Mellon and your particular major(s), department(s) or program(s). This essay should include the reasons why you’ve chosen the major(s), any goals or relevant work plans and any other information you would like us to know. If you are applying to more than one college or program, please mention each college or program you are applying to. Because our admission committees review applicants by college and programs, your essay can impact our final decision. Please do not exceed one page for this essay. Here is the essay: What would be best for me? I spent a lot of time trying to find colleges to apply to and Carnegie Mellon made the list. I believe it would be essential for me to attend a research university. I want to be able to know that what I am working on (research, experiments, etc.) is current, ground-breaking, game-changing. I want to feel that what I’m doing matters. I’ve spent years in elementary and middle school only to discover that my achievements (and no, I don’t only mean my perfect attendance awards) did not grandfather in for the rest of my academic life. High school did not care whether I attended elementary regularly or about any of my pre-secondary school achievements. College applications only want to know what I have done throughout these past four years. I feel that Carnegie Mellon will provide me with an environment that will let me grow and change as the world is growing and changing. What I do here will matter and carry on to whatever graduate school I may be at or whatever career path I choose to tread. In the International Baccalaureate (IB) program, one can choose from several Higher Level (HL) courses to fulfill the three required. My campus chose to make English and History mandatory HL’s. I chose to take HL Psychology as my third. This focused two-year class has revealed my interest in psychology as a lifelong study and future career. I have always been interested in human behaviors, how and why people make their decisions, how both internal and external factors can and do influence everyday life. As this class has progressed, I have found myself enjoying these studies more and more. I have been very successful in this class and want to apply the knowledge and skills I have learned to real-world situations. Psychology HL requires students to complete two experiments, one in our junior year and one in our senior year. Additionally, we complete an Internal Assessment (IA) of the experiment done early senior year. My group had to create an experiment based on three past studies and go through the process of analyzing the validity of our results after performing the experiment on student participants. We tested the effect of researcher expectations on participant performance, using the studies of Rosenthal and Jacobson (1966); Stangor, Carr, and Kiang (1998); and Crisson, Seta, and Seta (1989). The objective of this project was to reflect on what we did, how it was done, and what could have been improved on. Although we had to accept our null hypothesis, that researcher expectations had little or no effect on participant performance, we were able to understand what went askew and know what to correct so we could improve the performance, given the opportunity to do it again. I found performi ng the experiments live exciting; I had to be wary of creating bias or unconsciously affecting others. It made me become more analytical; more understanding of the fact that many factors can influence behavior and more understanding of my own role in affecting others. I’m applying to Carnegie Mellon into the Dietrich College of Humanities and Social Sciences. I believe that my two years in HL Psychology have prepared me well for whatever is demanded of me. I hope to take advantage of all the programs available at Dietrich College, such as the HSS Academic Advisory Center and HSS Career Connections. I expect to thrive during these next four years, prepared enough to head on into graduate school for a PhD in Psychology. Here’s why this Carnegie Mellon essay works so well: It’s tightly focused. This essay centers on the applicant's desire to study psychology, a topic that is made clear quickly and acts as the focal point throughout the essay. We learn that the applicant initially developed an interest in psychology through their high school's IB Program and that they intend to eventually get a PhD in the field. It goes into significant detail about a specific incident. In order to showcase their passion for psychology, this applicant wrote a detailed description of an experiment they conducted, what they learned from it, and how this knowledge will allow them to succeed at CMU. 4 Tips for a Great Carnegie Mellon Essay As you now know, you’ll need to write three essays for the Carnegie Mellon supplement.Here are some general tips to keep in mind as you begin to work on each Carnegie Mellon essay. #1: Use Highly Specific Details Don’t rely on catch-all phrases to get your points across in your essays. Instead, try to think of real, concrete examples you can use. Specific details will make each Carnegie Mellon essay you write (and your application as a whole!) stand apart from others; it also proves to the admissions committee that you know what kinds of opportunities are available to you at Carnegie Mellon. #2: Avoid Exaggeration- Be Yourself! Many students think they need to write about topics that sound "impressive," but this isn’t actually what admissions committees want.What they really want is to learn more about who you are, what you sound like naturally (on paper, of course), and what you value in life. This is why it’s so important for you to clearly channel your voice in your writing.For example, it’s OK to tell a joke or focus on a lighthearted topic if you would describe yourself as a comedian. Just make sure that, no matter what kind of topic you choose or how you write,you're ultimately making a bigger, important point about yourself- one that ideally emphasizes essential facets of your personality, your experiences, and/or your ambitions. #3: Don’t Repeat Anything You’ve Written for Your Common App Essay Carnegie Mellon requires all applicants to submit the Common App essay in addition to the three essays described above, so you’ll want to ensurethere’s not too much overlap between them. While it’s OK to elaborate on a specific topic or point that you briefly mentioned in another essay, don’t end up writing about the same experience more than once. The point of these essays is to showcase various aspects of your personality and life, and you won’t succeed if all you’re doing is repeating yourself in each Carnegie Mellon essay! Repetition: good for making pretty patterns, bad for college essays. #4: Edit, Polish, and Proofread Our final tip is to take a lot of time to edit, polish, and proofread each Carnegie Mellon essay you write.Look over each essay multiple times to catch typos and other technical errors, such as grammatical problems, and spelling mistakes. You should also be on the lookout for the following problems: Any inconsistencies in style, tone, voice, tense, etc. Any areas that are unclear, vague, or awkwardly worded or placed Any irrelevant details or descriptions that don’t add anything important Once you've edited and changed your essays a few times, give them to someone you trust, such as a teacher, mentor, or parent, and have that person offer feedback on how you could improve your writing. Here are some key questions to ask this person to think about as they edit your essay: Is the topic/theme effective and appropriate for a college essay? Does the essay sound as though you wrote it (and not someone else)? Does the voice sound like your authentic voice? Does the overall organization make sense? Is there a story, and does it flow well? Does the structure successfully get the main point across? Are the details specific and relevant? With all these tips in mind, you should definitely be able to write a great Carnegie Mellon essay! What’s Next? You'll need to use the Common App if you're applying to Carnegie Mellon. Get tips on how to write a great Common App essay with our expert guide. Thinking of applying to other great schools likePrinceton, Brown, or Columbia? Then be sure to check out our guides to learn how you can write amazing essays for these schools' supplements. Learn more about Carnegie Mellon's admission requirements by visiting its school page in our extensive database. Want to write the perfect college application essay? Get professional help from PrepScholar. Your dedicated PrepScholar Admissions counselor will craft your perfect college essay, from the ground up. We'll learn your background and interests, brainstorm essay topics, and walk you through the essay drafting process, step-by-step. At the end, you'll have a unique essay that you'll proudly submit to your top choice colleges. Don't leave your college application to chance. Find out more about PrepScholar Admissions now:

Skype and its impact on Social and Culture Environment Term Paper

Skype and its impact on Social and Culture Environment - Term Paper Example Importance of Skype and its Impact on People’s Lives Skype has been significant in the lifestyles of the modern society. The most important aspect has been lowering the cost of telephone services. Subscribers of Skype are able to communicate effectively through unlimited phone calls, which is not possible through the common telephone service providers. Moreover, Skype services are accessible globally and therefore every person who has access to the internet can use them (Booth, 16). The current wave of globalization has necessitated effective communication among business people, workers and their families as well as among organizations with mobile workers. Greenhow observes that Skype services have enabled many people working away from home to accomplish work-life balance by means of video conferencing (11). The common mobile telephony only allows voice calls, but workers and their relations appreciate visual communication whereby they are able to see the person whom they are communicating with. Under such circumstances, expatriate workers overseas are able to see their families through video chats. This is significance in the enhancement of satisfaction in employment and avoidance of family breakdown as a result of distance work. Video conferencing has also enhanced business and inter-organizational partnerships by enhancing networking capabilities. The cost of travel and conference rooms has been eliminated by Skype. Moreover, it helps in saving time in the p reparations for conferences (Turban et al. 19). In making purchases online, a person is in a position to see the partner whom he/she is communicating with thereby avoiding chances of falling in to the trap of fraudsters. For example, the recent rise in fraudulent transactions involving the sale of used motor vehicles by fake dealers through their short-lived websites could have been avoided if buyers insisted on visual conversations through Skype. This would enable them to request an image of the company premises and the cars before concluding a deal. On the other hand, the fear of fraudster companies in the internet has led to a decline of consumers willing to buy products online (Booth, 13). Skype can be applied by marketers to express their genuineness to potential online customers. Its application offers the opportunity to present a positive image by showing customers their marketing team, management and physical location. In deed, as Kuriyan & Ray (95) assert, Skype is the way to go in future online shopping. In healthcare, Skype has contributed to numerous positive changes with regard to communication between doctors and patients. Doctors, just like other professionals have been using Skype to communicate with families and friends. However, new developments have changed the manner in which they relate with patients. With increased cost of hospitalized healthcare, doctors have established a new strategy of home based care through Skype. Routine medical checks for patients have been facilitated by Skype video calls to patients in the comfort of their homes. Moreover, patients can interact with doctors for clinical consultations and other health related issues without physical presence in the hospital (Turban et al. 19). This has enabled doctors

Joseph Stalin Research Paper Example | Topics and Well Written Essays - 2750 words

Joseph Stalin - Research Paper Example For instance, according to statistical estimates provided by Haynes and Husan in their book A Century of State Murder? Death and Policy in Twentieth-Century Russia, if the 1920s mortality rates are to be extrapolated to the 1930s, one has to reach a conclusion that there were about 8.5 million excessive deaths for 1928-1936, and additional 1.5 million for the second part of the decade of the 1930s, making total number of casualties of Stalinism in the 1930s close to 10 million people (Haynes and Husan 65). If one compares the population predictions for the year of 1937 compiled by Soviet Gosplan in the late 1920s (about 181 million people) with the 1937 census’s actual results (i.e. 168.5 million people, further reduced to 167 million by the new 1939 census), it is clear that Soviet population fell by considerable number in the 1930s, as even Stalin’s government was forced to concede (Haynes and Husan 64). This tremendous number of excessive unnatural deaths should be f urther extended by taking into account the number of deaths of Soviet soldiers and citizens in the course of WW II, which, while not entirely caused by Stalin’s military ineptness, were significantly increased by it. In addition, the death rate in Soviet forced labor camps rose to its highest level in the 1940s, with 1.01 million of dead prisoners in 1941-1945 (Haynes and Husan 83). Finally, the 1940s deportations of national groups deemed not loyal to the Soviet regime cost their own share of deaths: almost 300-400.000 are likely to have perished, as the data provided by Pohl testify (2). This means that in all certainty, Stalinism led to deaths of about 20 million people, if the part of wartime deaths is included in overall estimate. Nonetheless, despite the natural aversion that may arise towards Stalin and his system of government when exposed to such information, it is known that memories of Stalinist era are often fondly invoked in modern Russia and, to a lesser extent, in other post-Soviet states. In particular, Putin’s government often uses memories of Stalin’s rule to support its own actions, especially un the field of foreign policy, and the new history textbooks used in Russian schools often include statements of the like that â€Å"Stalin acted ‘entirely rationally’ in executing and imprisoning millions of people in the Gulags† (Stewart). The nature of such fondness for Stalin on the part of Russian authorities is understandable, as the Russian government, while pursuing harsh neo-liberal economic policies, widely employs appeals to ‘Soviet nostalgia’ in its symbolism and external policies. At the same time, a characteristically different kind of ‘popular Stalinism’ exists among the wide strata of Russian society. Exemplified by the policies of ‘red-brown’ Communist Party of Russian Federation, which for all purposes dropped its former Marxist tenets in favor of more op en Russian imperial patriotism and of other, smaller but ideologically similar parties and groupings, this type of ‘Stalinist’ feelings mix nostalgia for the ‘orderly’ society unaffected by market turbulence with strong cultural conservatism and xenophobia. Therefore, despite strong condemnation levied upon Stalinism by Russia’s liberal intelligentsia, Stalinist sentiment, or,

The Stag Hunt Game Models Essay Example | Topics and Well Written Essays - 1250 words

The Stag Hunt Game Models - Essay Example Mainly, games such as Battle of Sexes, Prisoners Dilemma, and so on have been investigated by researchers. However, there have been very few mentions and applications of the Stag Hunt game. The Star Hunt game was a story told briefly by Rousseau. In its sense, it represents a social contract prototype (Skyrms, 2004). According to Rousseau’s story, the Star Hunt Game raises many questions such as an individual’s share of a successful deer hunt and values of a hare, will the hunt be successful if all those participating in the deer hunt remained faithful, and is there a chance that two hunters would opt to chase the hare? (Skyrms, 2004). In this paper, we look at the choices provided by the Stag Hunt game where each player can either choose to act on their own, or, to collaborate with the other party. This being an example of the games in game theory, we will try to find out whether it would be possible, through game theory, to predict a unique result of which everybody w ould choose. Discussion Game theory represents a very good way of analyzing the type of interdependence and relationship between firms in an oligopoly market. This type of market contains various small numbers of large enterprises practicing competition. Normally, when one firm in this market setting undertakes an action, other firms may be prompted to counter. For instance, if one firm rebrands its packaging and lowers it price, a competing firm is also prompted to do the same (Amos Web LLC, 2012). If one of the firms in the market decides to advertise a given product and launches an advertising campaign, the other firms in the market also prompted to make plans of stepping up their advertising campaigns. Game theory tries to explain these kinds of moves, and the counter moves that firms in an oligopolistic market make in trying to outdo each other for financial and market share gains. John Nash, the person who came up with game theory, was a Nobel Prize winning mathematician and e conomist (Shafer & Pearl, 1990). In the application of game theory in the moves and counter moves of firms in an oligopolistic market, analysis of standard game theory is on the basis of the alternative outcomes which arise when offered the choices that every one of the two players in the game face. It is worthy to note that when a player makes a choice, it definitely affects the result that the other or both of the players get in the end (Colman, 1995). In a game theory, if a player decides to cooperate with another player, the results they get form the endeavor definitely favors both of them (Shafer & Pearl, 1990). The rewards of cooperation are good. Nonetheless, there are times when cooperation is part of the game yet the individual interests are not the same as those of the team or the cooperating unit, like in the case of a soccer match. People form a team to get a favorable result at the end of the game. However, an individual may agree to be part of the team to get the resul ts but at the same time aim for personal glory. These are some of the choices that game theory offers the players or the playing teams as in the case of a soccer match (Bacharach, 1987). Experts have suggested that, it might be in the best interests of the players, in a game like the stag hunt to agree to cooperate with each other and go for the stag; as it gives more rewards in the end. However, there are times when the players wish to have outcomes that favor each of them in their own right without the

Writing a Profile Essay Example | Topics and Well Written Essays - 500 words

Writing a Profile - Essay Example Potential employees are required to fit in the firm according to the firm’s requirements and the intended performance taking in to consideration the set company wages. Since human resource management has been used to vet most of the employees joining a firm, there has been an influx on non-genuine firms to help in the evaluation and vetting of potential employees. Whenever there is an increases job demand, the appropriate supply should be available to compensate for the vacant jobs. International based business entities have come up with strategies to include vetting firms to interview their employees. This has led to establishment in vetting organizations such as the one i serve. The interviewing process is there to satisfy both the company and the employee who is chosen by having him/her understand what the job requires. A clear job description serves motivational purposes and helps have the company get the best performance from employees straight from day one of the job. Jo b description is a list of the required job qualifications or skills and salary range used by the interviewer in order come up the best-fit employee for the available position (Byers, 24). I being a human resource officer I was offered a job by a startup engineering company known as Liska engineering company. The company is located in the outcasts of New York City.

Amazon Prime Essay Example | Topics and Well Written Essays - 250 words

Amazon Prime - Essay Example So, in order to generate value for the customers, frequent purchases on the online store is necessary. For repositioning the service, a multi step strategy can be implemented. The first one is to create awareness about the service among the loyal customers, who have high shopping frequency. The second step will be to highlight the benefits of faster product delivery during the holiday seasons, which are the prime shopping seasons (Rao, 2013). The third step can be to pitch the service to consumers, who has a high movie watching tendency. The final tactic will be to offer attractive price rate for consumer electronics and books, since they have the highest purchases in the online stores (Nanji, 2013). By offering attractive prices, the purchase frequency of the consumers can be increased and this will create a pull demand for the Amazon Prime Service. Kline, D. (2014). Is Amazon Prime Still Cost Effective With a $20 Price Increase? Retrieved from: http://www.fool.com/investing/general/2014/04/17/is-amazon-prime-still-cost-effective-with-a-20-pri.aspx Rao, L. (2013). eBay And Amazon On This Year’s Marketplace Holiday Shopping Trends. Retrieved from: http://techcrunch.com/2013/11/24/ebay-and-amazon-on-this-years-marketplace-holiday-shopping-trends/ Nanji, A. (2013) Online Shopping Trends 2013: Most Popular Categories, Top Purchase Drivers. Retrieved from:

Writing a Profile Essay Example | Topics and Well Written Essays - 500 words

Writing a Profile - Essay Example Potential employees are required to fit in the firm according to the firm’s requirements and the intended performance taking in to consideration the set company wages. Since human resource management has been used to vet most of the employees joining a firm, there has been an influx on non-genuine firms to help in the evaluation and vetting of potential employees. Whenever there is an increases job demand, the appropriate supply should be available to compensate for the vacant jobs. International based business entities have come up with strategies to include vetting firms to interview their employees. This has led to establishment in vetting organizations such as the one i serve. The interviewing process is there to satisfy both the company and the employee who is chosen by having him/her understand what the job requires. A clear job description serves motivational purposes and helps have the company get the best performance from employees straight from day one of the job. Jo b description is a list of the required job qualifications or skills and salary range used by the interviewer in order come up the best-fit employee for the available position (Byers, 24). I being a human resource officer I was offered a job by a startup engineering company known as Liska engineering company. The company is located in the outcasts of New York City.

The Democratic Stalemate in Egypt Essay Example | Topics and Well Written Essays - 2250 words

The Democratic Stalemate in Egypt - Essay Example Democratization is therefore the process through which any given political system that has never been democratic becomes democratic. This enables the citizens in the participation of the election of their leaders through a free and fair election. The citizens are also able to freely participate in the countries civic and political duty without intimidation and their rights are fully protected hence they are able to freely operate within the borders of their country (Gelvin 24). Despite, this they must be aware that the laws are applicable to each one of them equally without discrimination. For a long time the freedom of the Egyptians had been curtailed due to the autocratic rule that their previous leaders bestowed on them. The media was not allowed to freely express the wishes of the people leave alone to criticize the government policies and their leaders (Sayigh 12). The political involvement both in terms of competition and voting has never been liberalized, as the ruling party h as gained excessive power and dominance hence denying other parties political space. Democracy has never existed in areas where there is no freedom of worship through religion or without the freedom of expression whether popular or unpopular. According to democratic theorists, democracy is always quite parallel within a command economy. These calls for a situation where the rights of the minority are also protected while empowering the citizens economically and the powers of the government must as well be made limited (Stabile). Literature review The slow pace in the Egyptian democratization process had been largely because of the existence of the Mubarak state due to the autocratic Mubarak rule for quite a long time. The shout of the Egyptians and the â€Å"Arab spring† has been on the international media portraying the need by the Egyptians for a democratic state. This process has though been thwarted by a series of factors and reasons which such media has not given any for m of consideration. According to Gelvin (24) these are the factors that have made it hard for the rule of Mubarak to be ousted off power not until the revolution by the Egyptian people came into effect to overturn such a government. Due to the existence of a variety of political, economic and other socio cultural factors could not make it visible that Egypt would move from its volcanic upheaval of the twentieth century to near democracy in the second half of the 21st century. Partly, the bright democratic future of Egypt has been made dull by the political monopoly of the ruling class, the excessive powers bestowed upon the state to prevent intended reforms. As stated by Katz (166)The powers are as a result of the existence of the loyal bureaucratic structures and use of public security forces for the benefit of the government. The other factor is the existence of the Islamic forces that are quite radical who act in a vacuum due to the lack of well strengthened institutions. Economi cally, Egypt largely depends on local consumption hence the needed role and impacts of the foreign trade are not a factor that can control autocracy, if in case then the foreign countries need the Egyptians more that the Egyptians need them (Gelvin 27). The countries also experiences and complete absence of an economy that is market driven, this has made it possible that the local population is extremely impoverished

The Sarbanes Oxley Act of 2002 Essay Example for Free

The Sarbanes Oxley Act of 2002 Essay The law officially named, â€Å"The Public Company Accounting Reform and Investor Protection Act†, was passed into law in 2002 in wake of the numerous corporate scandals that rocked our financial markets. One in particular was the Enron scandal, which before its collapse; Enron was thought of as one of the best companies in the United States. However, it failed to follow Generally Accepted Accounting Practices (GAAP) from as far back as 1997 through 2001. When the company suddenly collapsed in the latter part of 2001, it lost tens of billions of dollars of its shareholders money (Jickling 2003). The controls which were supposedly in place, neither internal nor external, did not uncover the financial masquerade. Because of the many corporate and accounting scandals to astonish the U. S. marketplace and its investor, shareholders organized and protested for tougher laws that required a greater degree of corporate accountability. The act is commonly referred to as the Sarbanes-Oxley Act (SOX), named after Senator Paul Sarbanes and Representative Michael Oxley, who were its main sponsors. SOX is intended to raise the bar for integrity and competence for publicly traded companies and also to promote a greater degree of accountability within these companies. The act changed corporate governance, including the responsibilities of directors and officers, the regulation of accounting firms that audit public companies, corporate reporting and enforcement. It is organized into eleven categories, called â€Å"titles†. The first being the Public Company Accounting Oversight Board (PACOB), second, Auditors Independence, then, Corporate Responsibility, Enhanced Financial Disclosures, Analyst Conflicts of Interest, Commission Resources and Accountability, Supporting Studies and Reports, Corporate and Criminal Fraud Accountability Document preservation (Whistle-Blower Protection), White-Collar crime penalty, Corporate Tax Returns and Corporate Fraud Accountability. Title I of the Act establishes the Public Company Accounting Oversight Board (PCAOB). It is an independent, non-governmental board that oversees the audits of publicly traded companies. The purpose was designed to protect the interest of the investors and to promote public confidence and transparency in the independent audit process. The powers of the PCAOB are to register public accounting firms that prepare audit reports for issuers; establish auditing, quality control, ethics, independence and other standards relating to the preparation of audit reports; and conduct inspections, investigations and disciplinary proceedings of, and take enforcement action against, public accounting firms (Clearly 2003). Titles II of the act have nine sections. It sets the standard in which the auditors must remain independent to limit their conflicts of interest. Under these sections the auditors have stricter requirements of reporting, they must rotate jobs and they are not allowed to perform other services to the same company they are auditing. Also, as stated in Title I the auditing company must be registered with the PCAOB to perform acceptable audits. Title III of this act speaks to the individual responsibility of the corporate leaders. Management must certify that the financial statements do not contain any material omissions or untrue statements and those they represent fairly the financial condition of the company. And that all of the internal controls are and have been operating effectively prior to the issuance of the reports. Title IV relates most closely with the accountants and the auditing process. It details the new requirements of the financial reporting process and the certification of the effectiveness of the companys internal control process. Section 404 which requires management to assess the internal control procedures and to sign off on its effectiveness and that the procedures are being followed. Section 404 highlights the critical importance of controls related to the financial reporting function of management information systems by requiring a regular assessment of the quality of the financial reporting, because management uses this to manage operations, monitor performance, create forecast and report results to stakeholders (Peters 2012). Title V, VI and VII are designed to help build the publics confidence in the markets by promoting transparency and by providing criminal sanctions and monetary penalties to perpetrators. Title VII can be considered a reflection piece, as it looks to examine different factors and how they affect the markets. The SOX act in Title VIII obligates companies to provide a documented whistle-blower protection policy. It is a means to collect, retain and resolve claims regarding accounting, internal accounting controls and auditing matters. This system must allow for such concerns to be submitted anonymously. SOX provides protection to whistle-blowers and severe penalties to those who retaliate against them. Under this provision violators who destroy, alter, or falsify documents or retaliate against employees who report such going-on are subject to lengthy prison terms. Title IX, X and XI outline the increase penalties for white-collar crimes, such as mail and wire fraud; the requirement that the CEO is responsible for the accuracy and certifying the corporations tax return and other financial reports. The last section institutes guidelines for failure to comply as a criminal offense and gives the SEC the right to freeze monetary transactions if they suspect fraud. Before SOX, the financial world was basically governed by the Securities Laws of 1933 and the establishment of the Securities Exchange Commission (SEC) in 1934. Corporations were only required to report the financial reports periodically to the public and the SEC. It was the publics responsibility to review the records and form an educated decision on the well-being of the company. The act also prohibited certain conduct such as insider trading and market manipulation. The exchanges, brokers, transfer agents were responsible for reporting any material changes in the holding of the companies to the SEC. However after the numerous financial scandals such as Enron, WorldCom, Adelphia to mention a few, in which the information presented to public, was fraudulent. They statements were misrepresented by millions and millions of dollars it was felt by the general public, investors and the federal government that there had to be stricter regulations to govern against such corporate behavior. SOX calls for greater accountability from everyone in charge. It implements rules and requirements from the top-down on accountability. CEO, CFO, directors must sign off on the reliability of the reports; auditors must maintain their independence and are prohibited from performing other services to the company they are auditing; managers and employees are responsible for the internal controls in their departments. And all these actions are punishable if not followed, as addressed in Title XI. Title XI provides authoritative powers for companies, its leaders, employees and/or auditors to be sued, sanctioned or criminally prosecuted if they are involved in any fraudulent behavior. It also provides the SEC the ability to seize funds and/or impose significant financial penalties for breaking the law. The most significant impact that SOX has had on the accounting world besides the increased criminal prosecution, is Section 404, which outlines the managements assessment of internal controls over financial reporting and the disclosure of such information. Internal control over financial reporting, is defined by Guy Lander, as a process designed by, or under the supervision of, the companys principal executive and principal financial officers and implemented by the companys board of directors, management, and other personnel to provide reasonable assurance for the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. The independent auditor must also attest to and report on the managements assessment of the effectiveness of the companys internal control over financial reporting. Each fiscal year, companies must select audit committees to perform the assessment of internal controls. In section 404, the auditing requirements have changed drastically. Integrated within the law is now a Code of Ethics which was not there prior to the SOX act. Everyone is now accountable and required by law to do the right thing. With the implementation of SOX, the spirit of the law is being enforced. God calls us to a higher standard. We are to perform our job to best of our ability and we should maintain our integrity. No law is higher than the laws given to us by God. Management is now required to know more about the system of internal control so that he/she can make an accurate account of its effectiveness. Management must also include a written document in their end of the year managers report to attest to the effectiveness of their internal control. CEO and CFO are required to certify that the financial reports are accurate and they must discuss with the audit committee any significant deficiencies or material weaknesses in the design or operation of internal control in the financial reporting process. The audit committee is required to attest to the integrity of the companys financial statements; the companys compliance with legal and regulatory requirements; the qualifications and independence of the independent auditor and the performance of the companys internal audit function and independent auditor (Cleary 2003). The independent auditor has an increased responsibility to verify the financial information of the company. The audit firm must attest to the reliability of managements statement on the effectiveness of their internal control procedures and processes. The SOX act requires increased communication between the auditor and the companys audit committee. They must communication at least quarterly to discuss management, accounting and/or auditing adjustments, any difficulties or disagreements encountered, or any auditors concerns over the quality of the companys accounting practices or principles (Cleary 2003). The cost of implementing the required changes associated with SOX, Section 404, Internal Controls has had a significant effect on most small business. Auditing firms increased their fees by an average of 40% to recoup fees associated with the loss of business because of the new guidelines requiring independence. The SOX guidelines limit services allowed by auditing firms to perform for companies they are auditing. Internal costs associated with compliance jumped 62% for companies. In 2007, the SEC formed a committee to determine the impact on smaller businesses. Their guidelines were business with revenue under $100 million. The impact of compliance with section 404 internal controls were 3. 5 cents for every dollar earned (Michelson 2008). According to a SOX research study by Lord ;amp; Benoit, the average costs of complying with section 404(a) management assessment for all non-accelerated filers included in the study were $53,724(ranging from as low as $15,000 to as high as $162,000. The range of audit fee increases was from as low as $7,500 to as high as $86,000). Krishnan 2008). Armed with this information the SEC decided to admen its reporting and disclosure requirements for small businesses. In February 2008, the SEC adopted the amendments and issued the Smaller Reporting Company Regulatory Relief and Simplification to provide assistance for smaller firms (Michelson 2008). Smaller companies have received multiple extensions to become fully compliant. It was stated that more than half of all small companies say SOX has made it more diff icult to do business. They have had to make cutbacks in other areas, such as marketing, research and personnel to offset the increase in costs. Also, two-thirds of the small businesses favor a different set of guidelines for smaller companies (Swartz, 2006). Another significant impact on small businesses is the increased turnover of its board members. The new guidelines that require increased independence and conflicts of interest make it more difficult for smaller companies who have higher managerial ownership. Executive directors of companies are less likely to appointed to boards. KPMGs Audit committee took a survey and found that directors were concerned with two very important issues, the first being accountability reform and their legal exposure and the second being how management is responding to Section 404 of SOX(KPMG 2004). The Sarbanes-Oxley Act is hailed as the most dramatic change and far-reaching act in the financial market place since the SEC was formed. The SOX act is here to stay and it is long overdue. There have been lists of companies and their improprieties for decades and decades that cheated others out if their fair shares. People who in charge of a companys finances and they succumbed to the temptations of greed. As humans we are fallen creatures, we need stipulations in place to keep us in check. We need laws to govern our actions. The SOX act represents a change in corporate accountability and corporate governing. Although it is still changing and adapting to the environment it has had a significant impact on the way people act. It takes into account the Spirit of the Law and not just the letter of the Law. Corporate leaders are being held to a higher standard, which is a step in the right direction. References Bedard, J. G. (2011). Detection and SEverity Classifications of Sarbanes-Oxley Section 404 Internal Control Deficienies. The Accounting Review , 825-855. Green, E. S. (2003). The Sarbanes-Oxley Act. New York: Aspen Publishers. Jickling, M. (2003). The Enron Collapse. CRS Report for Congress . Krishnan, J. R. (2008). Cost to comply with SOX Section 404. Auditing: Journal of Practice and Theory , 169-186. KPMG Audit Committee Institute (2004), Oversight of Auditors, Audit Committee Roundtable Highlights, Spring, KPMG Audit Committee Institute, Kansas City, p. 2. Lander, G. (2004). What is Sarbanes-Oxley? New York: McGraw-Hill. Michelson, S. S. (2009). The Sarbanes-Oxley Act of 2002: What impact has it on small business firms. Managerial Auditing Journal , 743-766. Peters, G. F. (2012). The Consequences of Information Technology Control Weaknesses on Management Information Systems. MIS Quarterly , 179-203. Spending on SOX. (2008). Journal of Accountancy , 90-93. Swartz, N. (2 008). SOX costs socks small firms. Information Management Journal , 14.

Benchmarking With Costa Coffee And Caffe Nero Marketing Essay

Benchmarking With Costa Coffee And Caffe Nero Marketing Essay The organisation chosen for the report is Starbucks Corp. and the report would compare it with two similar companies, one being Costa Coffee and the other being Caffà © Nero. The report would highlight the frameworks underpinning the competitive position of Starbucks and also would identify and asses the economic and the competitive position of the firm. A financial model using appropriate ratio analysis would also be presented in a spreadsheet format identifying the industry trends and their impact on the performance of Starbucks vis-à  -vis Costa Coffee and Caffà © Nero. Both quantitative and qualitative data would be made available so as to provide an insight into Starbucks sustainable performance and prospects. Analysis of Starbucks operational, financial, organisational and marketing capabilities would be made available through application of PESTEL analysis, Porters 5 forces model, the Ansoff Matrix and the BCG Matrix. The report would also discuss the issues, the problems, the opportunities and the options available to Starbucks for future business growth, followed by conclusions to draw together all the variables identified. Recommendations would be provided for the company highlighting the direction it needs to take to ensure business profitability with comments on the suitability, acceptability and the feasibility of the options made available. INTRODUCTION The Starbucks Company was founded in Seattle in 1971 by Gordon Bowker, Jerry Baldwin and Zev Seigel with a vision to educate American consumers about the fine coffee drinking experience. In 1987 Howard Schultz took over the Starbucks Group. Starbucks is the number one in the industry, with more than 12,000 shops in more than 35 countries. Just within a couple of years they grew from a small coffee business house to a multi-million dollar player in the coffee industry by buying the best coffee available and providing the people with an unmatched store experience. Freshly brewed coffee is the main product offered by Starbucks along with other drinks which include cold and hot teas, cakes and pastries. The Starbucks coffee comes in a many varieties each possessing a different taste, aroma and flavour. INDUSTRY TRENDS AND MARKET ANALYSIS The market right now for gourmet coffee business is hot. All the multi-national fast food chains and street-corner shops want in on the boom. Many big companies are focused on the supply of specialty branded coffees and the economic stage is heating up. Specialty coffee industry is one of the fastest growing financial services globally. Growth in the coffee industry is continuously peaking, with many new overseas companies entering the market using policies offering exclusive perks and special discounts, despite the questionable quality of the coffee being used to increase the market share. A notable trend seen is that often a significant increase in sales occurs every time a cafà © starts to use branded consumables. The consensus is that these coffee drinks would be a long-term trend, with focus on elevating the customers taste for a product that they are familiar with and then leading them to the coffee stores to buy it. Many companies are also tinkering with expanding the food menus as well including an in-store display of sandwiches, fresh baked goods and many confectionary items. The newest trend is the drive-thru coffee stores. Starbucks has many such stores, all of which are seeing continual growth and long lines. Another trend includes customer requests for organic coffees, which has encouraged retailers to move towards the beans growing environment. The array of products offered has never been as wide, as retailers are adding more flavours to whole beans and creating variations to the basics of espresso and steamed milk. The clever retailers have added iced tea concoctions and coffee shakes to their menus to outdo competitors. Most specialty retailers now also retail whole beans and many such stores have added coffee grinders, espresso machines and other brewing supplies for add on sales. STARBUCKS ANALYSIS This part of the report would analyse the working of the business by application of PESTEL analysis, Porter 5 forces and the BCG Matrix. PESTEL Analysis POLITICAL Taxation policy High taxes levied on farmers in the bean producing countries, would consequently increase the rate at which Starbuck would buy the coffee beans and any such fluctuations in the taxation policy would certainly be passed on to the consumer, who now would have to purchase the end item at a higher price. International trade regulations and tariffs Trade issues would affect Starbucks directly when exporting and importing goods. When the government of the trading country imposes a tariff it would not only result in an efficiency loss for Starbucks but also such large income transfers can become inconsistent with equity. This extra charge would have to be borne by the consumers. Government stability A change in government policies has a direct impact on the taxation and legislation framework. Also the countries in political turmoil or civil war should be considered with great caution when considering probable market ventures. Employment law Reduction in the licensing and permit costs in coffee bean producing countries would consequently lower production costs for the farmers and any such saving would subsequently pass on to Starbucks when purchasing the raw materials and finally to the customers. ECONOMIC Interest rates High interest rates would mean putting off the investment and expansion plans of Starbucks, which would result in fewer earnings for the firm. Low interest rates should have the opposite effect. Economic Growth In periods of negative growth, the consumer incomes would fall leaving less disposable income thus impacting sales for Starbucks. Inflation rates Business costs will rise in times of inflation which would ultimately have to be borne by the consumer. Competitors pricing Competitive pricing from competitors would impact Starbucks pricing that would drive down the profit margin as they try to maintain their market share. Exchange rates If the currency value falls in a bean supplying country, Starbucks would get more for the same price, when importing the goods. This saving would be passed to the end consumer. SOCIAL Population demographics Identification of the target population at which Starbuck needs to aim their products is a significant factor in the business operations. The marketing campaign undertaken would focus accordingly. Coffee is a luxury product in some ways, so the people with the most amount of disposable income should be targeted. Working Population A large number of workers in big cities now go out for lunch and meals. Starbucks can cash this to their advantage by promoting the shop as a place where people can eat and meet, boosting the sales. TECHNOLOGICAL IT development Starbucks launched its first-generation e-commerce website in 1998. As a result, scalability and performance have improved, and the company now has the tools it needs to profile and target customers, analyse site data, and deliver new features to the market in the shortest time possible. New materials and processes Technology developments in coffee making machines and the computer systems that Starbucks use to operate their cash registers would enable the staff to work swiftly and efficiently. This results in customers being served quickly thus creating potential for serving more people in the day. Rate of technological change Technology is advancing at an astounding rate. Starbucks will need to invest majorly just to stand their ground in the always expanding and developing market, and also to try to stay ahead of competitors. ENVIRONMENTAL Pollution problems Starbucks customers create a lot of waste by disposing off the cup and the contents incorrectly. The material for the cup should be carefully selected to make it as biologically degradable as possible. Planning permissions Planning permission may not be granted to Starbucks if the construction would harm the environment. The land may be protected. Environmental pressure groups Starbucks should be aware of the influential and physical power of groups such as Greenpeace and Friends of the Earth. Any violation of animal or environmental rights by a company is usually followed by a swift and attention-drawing protest from one of the groups. Brand image and customer bases are often irreconcilably tarnished due to the actions of these groups. LEGAL Trade and product restrictions Starbucks need to follow the trade laws of the countries where they have established businesses. They must ensure that they are not in violation of any local laws. Some countries impose a tariff that has to be paid accordingly when importing or exporting goods and this must be taken into account as well. Employment laws Each country has different employment laws, like limiting the number of hours a person can work per week, varying levels of minimum wage etc. Starbucks should be aware of such factors when considering business expansion. Health and Safety regulations By not maintaining high standards they would be liable for damages if found in violation as it is a legal requirement for them to enable that their staff and customers are safe when they are in their stores. PORTER 5 FORCES ANALYSIS New Entrants MID Buyer Power MID Supplier Power LOW Competitive Rivalry LOW Substitution Threat LOW 1. COMPETITIVE RIVALRY (Low) Starbucks is the leader in retailing and roasting of specialty coffee in the world. Major competitors include Costa coffee, Caffà © Nero, Seattles Best Coffee and secondary coffee providers such as McDonalds, Burger King and Dunkin Donuts. The competition is nowhere near to Starbucks volume of operations and sales. Consumption of coffee is not dependent on the price of the product but also on the differentiation between each product and several value adding variables such as the quality of customer services, brand, brand recognition and image of the company. Hence, Starbucks is not majorly sensitive to movements of other firms in this segment. 2. THREAT OF NEW ENTRANTS (Mid) Starbuck is the world leader in its industry and has controlled access to distribution channels. Starbucks have extreme control over such distribution channels because of setting strict guidelines for the suppliers to follow. Starbucks is also constantly innovating and showing strong product differentiation to hamper the possibility of new entrants. However, the entry barrier for the industry is relatively low and any big firm where funding is not a problem, can be a potential entrant. Some of the more current and on-going threats of new entrants are Burger King, McDonalds and Dunkin Donuts which can become a major problem in the near future. 3. BARGAINING POWER OF BUYERS (Mid) A big threat to Starbucks is the absence of switching costs in the speciality coffee industry, customers face no switching costs in switching from Starbucks to Costa Coffee or Caffà © Nero for a cup of coffee. Also a threat to Starbucks is the ability of customers to brew their own coffee. Starbucks tries to counter this threat by offering the Preferred Office Coffee Providers and also provides directions for making a perfect cup of Starbucks coffee at home, that perfect cup of course includes all ingredients which have to be purchased from Starbucks Also with new entrants and competitors such as McDonalds who claim to offer premium roast coffee of reasonable quality for lower price, thus giving the customers some bargaining power. 4. BARGAINING POWER OF SUPPLIERS (Low) Central and South America produce coffee which is the second largest traded commodity in the world and Starbucks depends upon outside brokers and a mutually direct contact with exporters for supply of premium coffee beans. The quality of coffee beans sought by Starbucks is very high, proving to be a potential threat to the company. Only suppliers which meet Starbucks coffee standards are able to supply to the giant company. The supplying industry only has few firms which can deliver the quality giving them considerable bargaining powers. However, Starbucks counters this due to its massive size and being the primary buyer and also because of the importance of Starbucks business to any individual supplier as it would account for a large percentage of the total suppliers sales, thus reducing the bargaining power of suppliers. 5. THE THREAT OF SUBSTITUTION (Low) Substitute products are the products that can pose as a trade-off for the product being offered by a company. In the specialty coffee industry, substitute products can be soft drinks, tea, energy drinks, fruit juices and other caffeinated drinks. Here innovation would play a huge role. To counter this Starbucks have given their menus a complete revamp and have differentiated so many of their products which are now part of the main product line. The menu includes various teas, hot and cold coffee, baked goods and various confectionary items. The only true direct substitute for specialty coffee would be the basic coffee, which is of lower quality than specialty and as such does not present any threat. BCG MATRIX RELATIVE MARKET SHARE HIGH INDUSTRY SALES GROWTH RATE HIGH STARS ( Growth Strategy ) Global stores Market Penetration and Development Backward, Forward or Horizontal Integration LOW CASH COWS ( Stability Strategy ) Product Development and Differentiation Diversification U.S Stores ANSOFF MATRIX Present Product New Product Present Market Market Penetration: Hotels, Schools, Airlines, Grocery Stores, Businesses, and Industries Cafeteria Product Development: New Bold Fresh Lunch Programmes and Salads e.g. fiesta chicken salad, fruit and cheese platter New Market Market Development: Opening of stores all over the world. Expansion strategies into Brazil, Russia, Romania and India. Diversification: Music CDs, Clothing, Coffee Mugs and other accessories. STARBUCKS FINANCIAL ANALYSIS This part of the report would highlight the financial position of Starbucks using the annual reports and comprehensive ratio analysis for the financial years 2008, 2009 and 2010 which are enclosed in the appendix. 2008 In fiscal 2008, Starbucks experienced declining store sales in its stores, primarily due to lower customer traffic. The weaker traffic was caused due to number of on-going factors in the global economy such as the higher costs of gas, food, personal debt and rising levels of unemployment along with reduced access to consumer credit. In fiscal year 2008, store sales declined a margin of 8%. Consolidated operating income was $503.9 million in fiscal 2008, and operating margin for the year was 4.9% compared with 11.2% in the prior year. The 260 basis points of the decrease in operating margin were due to the restructuring charges, primarily related to the significant US store closures. EPS for fiscal 2008 was $0.43, compared to EPS of $0.86 per share earned in the previous year year. Restructuring charges and costs associated with the execution of the transformation agenda impacted EPS by approximately $0.28 per share in fiscal 2008. 2009 Financial year 2009 was a tough year for Starbucks. The recessionary economic environment stressed the consumer spending in the US and internationally, which impacted store sales, operating income, company revenues, and the operating margins negatively. Starbucks countered the affects and created a business model less dependent on high revenue growth to drive profitability margins. The strategy was to rationalize the global company operated store portfolio to reduce the cost structure and renewing the focus on customer service excellence. Starbucks had to close down about1000 stores. Steps that targeted reductions in the cost structure in FY 2009 proceeded according to plan, with full year costs of $581 million removed from the cost portfolio. The company created a strong financial foundation, with no short term debt outstanding at the end of FY 2009, with cash and liquid investments totalling more than $640 million. The strong financial position and the continuing strong cash flow generation allowed Starbucks the financial flexibility to implement the restructuring efforts. 2010 In fiscal 2010, revenues increased to a record $10.7 billion. Operating income increased by $857 million from  ¬Ã‚ scal 2009 to $1.4 billion. The full-year operating margin of 13.3 % represented the highest full-year consolidated operating margin in Starbucks history. Fiscal 2010 ended with the highest full-year comparable store sales growth that Starbucks have seen in the recent past, while the earnings per share also grew more than double from  ¬Ã‚ scal 2009. BENCHMARKING WITH COSTA COFFEE AND CAFFÉ NERO Starbucks is a US chain whereas both Costa Coffee and Caffà © Nero were established in the UK. Costa Coffee was setup in London in 1971 by Bruno and Sergio Costa and acquired by Whitbread PLC in 1995. Caffà © Nero was established by Gerry Ford in 1997 in the UK. The comparison would be carried out using the financial information of the three firms which is available in the appendix. The comparison would majorly be based on the UK market. There are 1,175 Costa Coffee shops in Britain as compared to 731 of Starbucks and 440 of Caffà © Nero. A comprehensive business analysis of Starbucks has already been supplied in the above report; this part would focus on the business analysis of Caffà © Nero and Costa Coffee individually followed by a coherent conclusion of the findings. Costa Coffee According to the financial data available operating profit grew by 59.5% to  £36.2  million; 312 new stores were acquired or opened and like for like sales increased by 5.6%. Costa operates in 24 countries and is the number two international coffee shop operator with more than 1,600 stores. Sales performance improved strongly across the year, confirming the brands resilience, even in a recessionary environment. Caffà © Nero The groups 60% equity is held by the Ford family, the rest 30% by a private equity firm Paladin and 10% with the management. Caffà ¨ Nero has recently completed a  £140m refinancing to fund the businesss future growth goals. The business more than 500 outlets in the UK and internationally and has registered 54 consecutive quarters of positive like-for-like stores growth, it is forecast to generate  £32m in earnings before interest, tax, depreciation and amortisation (EBITDA) for the 12 months to May 2011. Revenue for the same period is forecast to reach  £170m, an increase of 12% on the previous year. The new financial structure would provide the Group with a financial platform to support its growth ambitions and expansion plans both in the UK and internationally. Nero has a lot of ups including strong brand positioning, intensive marketing campaigns and a clear differentiation point. However, there are some weaknesses, one of them being lack of experience in going international, thus some problems could arise while penetrating foreign markets. Though both the companies Costa and Nero are well established in the UK market, Starbucks is the industry leader in the world and is a major competition to them in the UK. Financial turnover of the Starbucks Group is so massive that it provides them with all the capital requirements to innovate and differentiate their product from the 2 competitors; it already has established a sizeable market share in the UK, but still needs to take over Costa Coffee which it should be able to do in the near future, looking at the financial figures provided and the international global strategy adopted by the group which seems very promising. ISSUES FACING STARBUCKS A major challenge that Starbucks is dealing with is the current financial crunch in the world economy forcing them to call closures of many stores around the world. Also another challenge that Starbucks is facing is with is competitors. There are many coffee shops all over the world and to be able to stand out and to generate loyal customers is very important. Their main competitors are McDonalds, Dunkin Donuts, and Nestle in the US and brands like Costa Coffee and Caffà ¨ Nero in the UK, the two major markets for Starbucks. It is critical for Starbucks are aware of their competitors and know what they are currently doing. Also Starbuck coffees are priced higher than other market competitors because of Starbucks only purchasing the highest quality coffee beans for their product, thus increasing the price of the drink. As Starbucks have many competitors, this can be a potential advantage to for such competitors. Also Starbucks inadequate marketing strategy on advertising is a hindrance in the business growth opportunities. They prefer to build the brand by promoting the drinks cup-by-cup with customers. The advertisement ends until they drink the coffee, reducing the chances to attract valuable customers. Starbucks also does not emphasize on distributing their products to supermarket because of being concerned with the quality of the coffee; if the coffees were packaged into plastic bags. Also the rigorous expansion strategy followed by Starbucks can take a toll on the firms brand image. As a company grows there would be a tendency to focus heavily on increasing the output and store locations, thus focussing less on the quality and brand image. Starbucks needs to stay with its values and ideals that have made it successful. Also Starbucks policy of not franchising can be a cause of concern for the firm. Franchising would allow the company to open many new stores with less risk, and make considerable profits in doing so. Because of this the firms research and development costs would fall making use of the franchisee knowledge of the local market in terms of geographic, psychographics, demographics, and the local country regulations. CONCLUSION AND RECCOMENDATIONS Starbucks has to effectively pursue a Focus-Based Strategy in conjunction with differentiation and cost leadership based strategy. Being a lower cost store will increase the difference between Starbucks and provide it with a competitive edge. At present, Starbucks competitors are attempting to specialize in the coffee business, therefore Starbucks must pursue focus strategy to increase its strength. Starbucks must reduce their product price by producing a new product of coffee using cheaper beans or can come out with special discounts and promotions to reduce cost, thus increasing sales enabling Starbucks to enter new low cost markets and increase profitability. Also needs to focus on building alliances in new markets/countries to reduce management focus and benefit from the local and experience curves. Should focus on advertising the brand through internet services for users to access, do road shows, hand out brochures etc. so that consumers become more aware of the brands strong international presence and brand name. Market penetration and market development will help increase the sales. Access unexplored distribution channels like making available packaged Starbucks coffee for consumers by displaying it nationwide in various convenience and shopping stores and not only Starbucks stores. Starbucks must adopt twin policies of Product Development and Product-Market Diversification to counter the stiff competition in international markets. There needs to be concentration of efforts in the product development so as to focus majorly on making the existing products better. Product and market diversification can be modelled through research and development coupled with creativity and innovation. Product differentiation would be an excellent defence against the threat of the bargaining power of buyers. Developing new products lines may offset such potential risks. A strategy should be formulated to tackle the competition by entering into long-term contracts and agreements with the food service companies which could be the potential competitors. This way their coffee would be sold at these competitors outlets providing access to more markets and increase sales while decreasing the competition. Starbucks must be a first mover into markets with their new products and ideas. Being a first mover into developing international markets would be the appropriate way for Starbucks to build their customer loyalty and upholding its image as the innovative company that it is. Starbucks should also locate the store operations in possible high traffic and visibility areas. The company should take adequate care in picking such locations. It is of prime importance that Starbucks international stores reflect their trademark uniqueness in their location and layout. Having locations in a variety of areas will ensure large market exposure. REFRENCES Johnson, Scholes (2008) Exploring Corporate Strategy, 8th edition, FT Pitman Whittington Vaitilingam, R.(2005) Financial Times Guide to Using the Financial Pages, FT Prentice Hall Holmes, Sugden Gee (2008) Interpreting Company Reports Accounts 10thed, FT Prentice Hall Brealey, Myers Allen (2003) Principles of Corporate Finance 9thed McGraw Hill Miller, A (1998) Strategic Management, 3rd edition, McGraw Hill Grundy, T et al (1998) Exploring Strategic Financial Management Prentice Hall Buckley, A et al (1998) Corporate Finance Europe McGraw Hill Barker, R (2001)Determining Value valuation models and financial statements, FT Pitman Fraser L Ormiston A (2001) Understanding Financial Statements, Prentice Hall Shapiro A Balbirer S (2000) Modern Corporate Finance Prentice Hall Chorafas D (1995) Financial Models Simulation St Martins /Macmillan Watson D Head A (2001) Corporate Finance Principles Practice FT Prentice Hall Starbucks (2010) Company Profile [Online] Available from: http://assets.starbucks.com/assets/company-profile-feb10.pdf [Accessed 11th May 2011] Starbucks (2010) Recognition [Online] Available from http://assets.starbucks.com/assets/starbucks-recognition-jan2010.pdf [Accessed 2nd May 2011] Iwata (2006) Owner of small coffee shop takes on java titan Starbucks [Online] Availablefrom:http://www.usatoday.com/money/industries/food/2006-12-20-starbucks-usat_x.htm[Accessed 1st May 2011] Jagger (2008) Starbucks profits dive by 97% [Online] Available from: http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article5127267.ece[Accessed 2nd May 2011] Linn (2008) Starbucks to close 600 stores in the U.S[Online].Available from: http://www.msnbc.msn.com/id/25482250/ns/business retail/[Accessed 2nd May 2011] Thompson (2008) Starbucks blames UK for weak performance[Online].Available from:http://www.independent.co.uk/news/business/news/starbucks-blames-uk-for-weak-performance-1012568.html [Accessed 3rd May 2011] Bowers (2010) Starbucks losses in UK rise to  £10m [Online].Available from:http://www.guardian.co.uk/business/2010/jul/09/starbucks-losses-rise-recession[Accessed 6th May 2011] Guardian.co.uk (2010) Starbucks triples profits to $240m [Online].Available from:http://www.guardian.co.uk/business/2010/jan/21/starbucks-triples-profits-coffee[Accessed 14h May 2011] BBC.co.uk (2010) Starbucks profits jump as sales climb[Online].Available from: http://www.bbc.co.uk/news/business-11699561 [Accessed 19th May 2010] Weber (2011) Preserving the Starbucks Counter Culture [Online]. Available from:http://www.workforce.com/section/recruiting-staffing/feature/preserving-starbucks-counter-culture/[Accessed 16th May 2010] Starbucks (2011) Investor Relations [Online] Available from http://investor.starbucks.com/phoenix.zhtml?c=99518p=irol-irhome[Accessed 3rd May 2011] Dobson (2011) www.statistics.gov.uk (2011) Employment [Online] .Available from http://www.statistics.gov.uk/cci/nugget.asp?id=12 [Accessed 10th May 2011] Hoovers.com (2011) Starbucks Corporation [Online].Available from http://www.hoovers.com/company/Starbucks_Corporation/rhkchi-1.html [Accessed13th May 2011]