Examples of Students Essays

Marketing research and analysis of the construction of steel in Yemen Essay Example

Marketing research and analysis of the construction of steel in Yemen Essay

In every organization the management carries out research work about how the operations and performance of a company are taking place so that goals and objectives are achieved within the stipulated period of time .The aim of research work is to ensure that all operations within the various departments are taking place within the stipulated period of time – Marketing research and analysis of the construction of steel in Yemen Essay introduction . Market research refers to the process of gathering, recording and analyzing data and information about the customers, competitors and the market at large.

Yemen country is a small country that has been growing slowly due to lack of the necessary resources and personnel who can implement policies that can bring about growth and development within a country. In the past it has been constructing its building using locally available materials, but due to increased demand for modern houses and scarcity of this raw material the management of these organizations has been importing construction material such as steel so that they can construct strong and durable buildings that can last for a longtime.

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The country has been frequently attacked by terrorists and this has adversely affected the performance of the country as investors have been confident in investing in the country. The country has been engaging in various sectors of the economy such as agriculture, tourism, and construction, industrial and manufacturing industries so that it can generate as much revenue for the economy as possible. The economy of the country has been performing poorly this is because of continued wars and attacks, therefore has been venturing in various businesses so as to generate income for their income.

1.1Yemens economy

There were different kinds of wars that took place in Yemen that adversely affected the economy. The different kinds of wars were; American Warship United States Cole’s that occurred in October 2000, attacks that occurred on September 11 2001,and also the Limburge explosion that occurred in October 2002.The effects that were observed during and after the wars were declined oil prices that increased from  United States $8to $12 per barrel. There was low economic growth rate, high inflationary rate, and larger deficiency in commercial expenditure that resulted from the dependency on the oil resources.

The tourism sector as also affected this because visitors could not visit war prone countries. The unemployment rate rose as no investment took place within the country. The other issues that arose as a result of the war were deterioration of the local currencies exchange rate, increase of prices of goods, cost of production was also high and insurance costs also rose up during this time. The government recorded a loss of US$500 million thus it could not continue with its investment project due to this deficit.

The Yemen government assisted the Iraq government in invading the Kuwait government that led to the alienation of the Saudi Arabian and Kuwait government during the Gulf war that occurred in the year 1990-1991.The Saudi Arabian government further on expelled the Yemeni workers from their country and this affected the Yemen’s governmental budget. In the year 1994 there was civil war that affected the economy such that the country sought financial aid from the international agencies such as the World Bank and International Monetary Fund. International Monetary Fund gave the government credit facility that amounted to United States  $190 million which was later on added to United States $500million ,but there were restriction that were  imposed that stated that the government had to restructure the  economy by reducing poverty and enhancing growth so that it could receive more funds from the international agencies.

In the year 2002 the bilateral and multilateral agencies together with the World Bank assisted the government by funding it with more money that amounted to United States $2.3 billion whereby 80% of the funds was in form of concessional loans. In the year 2005 the international agencies stated their dissatisfaction with how the government implemented its policies since poverty levels were still higher than was expected of them, therefore it said it would reduce its finances to more than one third percent of the promised funds.

Yemen produced small amounts of oil although it did not belong to The Organization of Petroleum Exporting Countries (OPEC) that produced large amounts of crude oil that was later on sold to the foreign countries so that they could generate income. The amount of crude oil that was produced by the country contributed to 70% to 75% of the governments revenue while 90% of it was exported to the foreign countries.

It was reported that the crude oil reserves amounted to 4billion barrels although after a period of 15 to 20 years the oil reserves and fields were expected to decline with time due to exhaustion. Recently the country has been producing the Liquefied Natural Gas (LNG) so that it could be exported to other countries in the world. It partnered with the privately held companies in order to facilitate production of quality products for its customers. The plant was noted to produce over 6.7 million tons of Liquefied Natural Gas (LNG).According to some analysts they stated that the Liquefied Natural Gas would contribute to over United States $350 million revenue thus would increase amount generate by the government as revenue to its budget .This revenue would be used to facilitate to the development of a petrochemical industry within the country.

 The ways in which the government has been encouraging non-oil business like steel business. The government has been providing funds to various sectors of the economy such as agriculture whereby it has been giving the farmers quality seeds so that they can grow quality foods that can be exported to the foreign countries. For instance it has been venturing in agricultural activities Yemen non-oil products has been agricultural products such as fish and fish products, vegetables and fruits. It exports and imports were reported to be increasing and decreasing due to changes in the oil prices. The agricultural sector faced challenges that were as a result of environmental degradation such as soil erosion, sand dune encroachment and deforestation that hindered the agricultural practices to take place within the country. It irrigated its fields with water from the wells, but they were depleting each day therefore the activities would not be undertaken effectively.

The Yemen government imports steel from the Middle East countries so that they can construction business within the country effectively.

1.2. The importance of the construction industry in Yemen

The government of Yemen stated that it was in the process of constructing an iron and steel plant in the city of Rayan that was located about 50 kilometers in the Northeast Mukalia Hadramount Governnorate.It was noted that the plant would occupy an area of 180,000 square meters and would cost over $26 million .The aim of constructing the steel plant was to meets the increasing demand for steel products that were demanded by the investors who wanted to construct good building that would last for a longtime hence meet the need of the growing population within the country.

At the end of constructing the plant it would be in a position to produce products such as ; steel bars that have different diameters, steel would be used in the hangar construction and other steel structures. Within the plant over 300 domestic workers would be employed within the organization.

The importance of the Yemen construction company has been its construction of rich, characteristic and uniform buildings that have been attractive to the investors. It was reported that the country’s industrial sector led to 47.2% gross domestic product of the country. In this industry it hired over 25% of the labor force who would produce goods and services for the sector. Oil refining industry contributed to the largest number of gross domestic product for the country that led to over 40% revenue of the country.

In the year 2000 there were over 34,000 small businesses that were managed by two to five people who also employed over 115,000 workers. The businesses were involved in the processing of food products, and beverages. They also produced cooking fat and flour which was increasing each day. The agricultural and herding  sector employed  most of the people who were in that country, while the services, construction and commerce sectors was composed of less than 25 percent of the work force within the country.

It was noted that the country’s civil service consisted of large, poorly paid workers who were awarded inadequate salary differential that ranged between high and low skilled jobs such that they did not attract and retain qualified personnel within the country. In the year 2004 civil service salaries was increased from 20 to 40 percent as this had been stipulated within the act of the company. There were different concessions that were implemented within the organization that involved increasing the civil service wages by 10 to 15 percent each year.

2. Construction building products

The country built buildings of different types that depended on the materials that were accessible to the customers. Yemen used the following building products for constructing the building within the country; concrete block was the most preferred building material as compared to the old material that was known as stone that was cheaper since most of the people were low income earners therefore could not afford to purchase expensive raw materials. The traditional type of materials that were used in Ancient Sana of Yemen was; stone, mud straw, with oil and wood. Rocks formed part of the traditional building that was supported by two or more floors. Soil was mixed with straw that was used to make huts, while burnt mud or brick formed part of the building materials that were used in the capital city of Sana. Wood was used for construction was known as Shibam  as it was used on the ceilings of mud house that formed  part of wood  building .Sticking master material was used for sticking interior decorations on the interior wall blinds, internal and external parts of  the building.

Shibam city limestone was used on the walls so they would pick up residential soils that would be used to glaze the glasses .Gravel together with the adhesive material were used on the pool roof ,kitchen and the bathroom so that they would prevent water from seeping out of the organization. Steel was used for reinforcing the constructed buildings. Steel was a rare commodity as one had to import from other international countries such as; Turkey, Russia and Korea since it does not produce steel by itself. The ironsmiths and welders had different skills that enabled them to perform their duties such that they produced swords, shields, arrows and spears that were used by the Islamic soldiers that were present during the Old World Millennium day.

Burnt red bricks were used for decorating buildings while the gypsum and whitewash were used for decorating the inner and outer sides of the building .The above material had been constantly used in reducing the variation in the houses built since the climatic conditions and other factors had been changing rapidly. The climatic conditions included; temperature, humidity while the other factors were their strength to withstand pressure and durability of the materials used.

3. Government organization that are in the construction industry

The government organization that were involved in this industry were Organizations of Economic Cooperative and Development (OECD) and the non-governmental organizations that implemented  policies lead to the improvement of the company’s performance within the stipulated period of time. The policies that could  be implemented within the organization involved creation  of awareness of constructing good projects within an economy, construction documents that showed how the procedures would  be followed within the organization as   stipulated within the companies act, how  labor intensive methods would be used as was   cheaper as compared to the capital intensive systems.

The local contractors and the non-governmental organizations were encouraged to participate in small and medium projects so that they could provide affordable housing projects and thus decrease the work that was undertaken by the informal sectors within an economy.

4. Construction steel market

It was reported by the Chief Executive Officer Mr. Roman Madhok of Trade Line Company that the steel future contracts would be implemented while at same time 10-tonne steel reinforcement would be launched and would have steel billets of contract implemented within the organization so that quicker delivery of services to the customers as this would be strictly adhered to by all the parties involved. It was reported that the implementation of its facilities would be carefully monitored since the fluctuation of the steel prices would adversely affect the performance of a country.

5. Current market situation

The construction industry in the year 2006 experienced economic and technical problems such as use of excess capital, time and resources that affected the national economy and the nations socio economic development .The macroeconomic conditions that were affecting the performance of the industry were unemployment, inflation and the equitable balance of payments. The industry lacked the necessary infrastructure while its administrative and financial institutions were weak therefore could not perform its activities effectively.

According to Mathew Walkins he stated that during the middle year of 1995 steel prices were strong, as this was as a result of regional demand that lead to the soaring demand for the product. The strong demand for the product in North America and Brazil contributed to the increased profits for the construction company. On the other hand steel supply side was affected by the unplanned outages where there were reported cases of accidents that occurred in the North America and Brazil. The cost of raw materials contributed to the high prices of the product .For instance Middle East steel producers required oil ores that came from china, India and Turkey which were expensive to import. While other raw materials and intermediate products such as scrap metals, steelbillets and direct reduction iron were to be imported and this lead to increased cost of production for the company.

The reasons why steel is rare found is that it is found in few countries in the world and the cost of  transporting it is high therefore few investors venture into the steel business. The cost of paying the workers who are involved in the steel business is quite high therefore the reason why it rarely found in the market.

Steel in the construction industry is used for the following purposes; imported steel plates and bars were usually twisted and shaped in ways that would enhance their strength and beauty. It was also used during the process of reinforcing the building so that they would be compatible with the desires of the investors and thus remain stable for a longer period of time. It is used in the construction of roads, railways infrastructure ad buildings within a country. It is also used in the construction related applications such as in making of bolts, nails and screws for fixing the plats and machinery to their respective places within an organization.

6. Demand and supply.

The demand for petroleum products increased   to 100,000 barrels per day since the country was intending to expand its business activities within the country. The steel industry of late experienced low demand of its product since the cost of transporting it from one place to another was extremely high and the resolution of the supply of problem resulted to stable prices for the steel products. There has been increased demand for construction of quality building this is because of the locally available material cannot be satisfy the demand for cities that require building  that are made from good quality materials. The population of the country has been growing steadily and this has resulted to the construction of many buildings that can accommodate the people that are living in the country.

The prices of the materials of construction have been changing significantly this is because of economic conditions within the country that has been changing thus have been influencing the prices charged on this construction materials. There are instance where the suppliers of this construction  materials has been hiding  the products so that they can wait to be distributed to the customers when their prices increase in the market and be in a position to maximize their profits

References

Alsaleh, H., 2004, Toward PracticingArchitecture within the Concept of Sustainable

Development,King Faisal Scientific University Journal, Basic and Applied

           Science,Vol.5, No.2, pp107-134. (Arabic)

Ofori, G. (2001), “Indicators for Measuring Construction Industry Development in

Developing Countries”, Building Research and Information, vol. 29, no. 1, pp.40–

           50

Construction in Yemen and sustainable development: Are they sustainable?

By: Dr. Basel Sultan

http://209.85.173.132/search?q=cache:ZkjPOHUHyXUJ:www.yementimes.com/article.shtml%3Fi%3D1123%26p%3Dreport%26a%3D2+how+important+is+the+construction+industry+is+to+Yemen&hl=en&ct=clnk&cd=6&gl=ke&client=firefox-awebsite

Website accessed on November 14 2008

Iraq war could hit Yemen’s economy hard

By Mohammed Bin Sallam and Yasser Al-Mayasi Yemen Times Staffhttp://209.85.173.132/search?q=cache:xMrfNHU-TjoJ:www.yementimes.com/article.shtml%3Fi%3D628%26p%3Dlocal%26a%3D1+Yemen%E2%80%99s+economy&hl=en&ct=clnk&cd=1&gl=ke&client=firefox-a

 

Examples of Students Essays

Rewards for Behavior: Increasing Motivation Essay Example

Rewards for Behavior: Increasing Motivation Essay

Rewards for Behavior: Increasing Motivation Essay introduction.

Rewards for Behavior: Increasing Motivation

In observing the behavior of human interaction within the realm of sociology, one can see a definite increase in the amount of motivation devoted to a certain task when a person is offered a positive gift or reward at the point of culmination of a specified task.  The types of rewards and the types of people offering the rewards may vary from situation to situation, for example, a reward may be self administered or administered by an outside party, friend, coworker, employer, spouse, or parent and may take the form of a monetary reward, affection, favor, or emotional, mental, or material sort of gift.  Within the varied and multiple human systems working on planet earth, rewards are best type of stimulus to encourage people to act or behave in favorable ways or to perform tasks well and in a high quality fashion.  In demonstrating the specific nature and power of rewarding people for achievements, it is good to have a precise and accurate overview of how human beings behave with one another in various social situations.  Understanding the effectiveness of rewards entails discerning between positive and negative behaviors, or constructive and destructive behaviors, and placing value on behaviors which promote the highest level of functioning between human beings (Deci, Koester, & Ryan 658).

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In family systems and relationships between family members, rewards may constitute both a positive stimulus between spouses as well as a positive stimulus between parents and children in order to heighten the valued, desired, or healthy behaviors demonstrated between family members.  In the case of the husband who desires to have his wife cook regularly at home, he may decide to offer a reward to his wife, such as suggesting a switch from full time to part time employment, allowing her more time at home, in order to have her stimulated to accept his proposal of cooking dinner every night.  If both the husband and wife find the option of her switching to part time work favorable, freeing up her afternoons, then the wife may happily consider accepting the reward of more time at home in exchange for cooking dinner for her family.  As with any reward, it is vital that the two or more people engaging in the agreement both find the reward to be favorable, for if a reward is not favorable and lacks positive attributes in the eyes of the people involved, it ceases to be a reward.  In the case of children relating to parents, it may serve family members well for parents to offer a reward of kisses and praise to their children for tasks well done.  If a parent notices that his or her child is kind to another child or brings the dishes to the sink without having to be reminded, the encouragement of this behavior continuing lies in the reward the child receives in the form of kisses and praise.  It may serve the children well to also note that a parent can be positively affected by a reward system.  If a child desires to be brought to the movie theater more often, then the child may want to extend kisses and praise to the parent every time they see a movie together, perhaps right after the movie as they walk from the building together.

Using rewards in the world of business can be a bit more explicit, such as rewards in the form of money or earnings per well completed tasks, and also more competitive and formal than allocation of rewards in a family setting.  Rewards in employment often come in the form of payment.  Many jobs are set up on a salary bases after careful consideration of an employee’s qualities and attributes, however, an even better pay system would function based on the current quality of the employee’s work delivered.  If people were to always be paid based upon the timeliness and highest quality of work delivered, then the reward system would be geared even more precisely to encourage the best possible products by employees.  Implementing a transparent system where certain tasks are rewarded by a higher rate of pay when completed may require a bit of time and consideration, but it is certainly possible in a variety of, if not all, fields of employment.  The salary earned for a job well done is perhaps the most important stimulus for any economy, and if this stimulus can be tweaked precisely and accurately, rewarding workers in the time and place when the highest quality goods are delivered, then the rewards system could serve in heightening the efficiency and productivity of an individual, company, or even a nation.

Rewards can also be administered within the social systems of friendships in the aim to foster trust and compatibility between people.  When a friend wants to be closer to another person, to a friend, this friend may offer rewards in the form of praises, nice phone calls, lunches, evenings out, or social gatherings in order to shore up the relationship and provide motivation for staying nearby and in contact.  If a person needs a friend and social outlet, a confidant and person to have fun with, then rewarding the friend with kind words, a meal, favors, or fun times together can be the impetus for the person wanting to stay around and to not abandon the relationship.  Friendships, like other relationships, are defined by the bond between people, and the bond is best strengthened by a system of rewards in which one or both people are being sure to gift one another with nice behaviors in order to ensure the worth of the other’s presence and contribution to the relationship.

More examples of family relationships where rewards function to better the relationships and provide stimulation to achieve positive goals are apparent in a variety of situations.  If a wife is unhappy with her romantic life, she may encourage her husband to be more romantic with her by decidedly and clearly remarking favorably on the small moments of romance which are present in their relationship or by commenting tactfully on the wonderful aspects of another couple’s relationship, in the hope of providing a reward or shedding positive light on situations which she considers to be romantic ones.  When a husband is lacking self esteem due to the high powered career of his wife, he may offer wife thanks and appreciation when she values his contribution to the family or he may even decide to reward himself by buying himself some nice leather shoes or a nice suit when he takes on the second job teaching adjunct classes at the local college.  Children may reward their parents by excelling in school, such as getting all As on a report card, which is a testament to the parent’s time and devotion as well as the children’s.  Kids have so many various ways of rewarding their parents and making them proud, providing them extra motivation for parents to reward their children and themselves.  Parents may want to reward themselves and their children simply by remarking to one another and to other people about the wonderful achievements of their kids, highlighting their unique attributes and successes.  The ways in which family members are able to reward one other are as varied as individuals and families themselves, and noting how rewards work within families, seeing them functioning in action, can serve to strengthen the family unit.

Other examples of rewards systems working well in the world of employment are demonstrated in multiple ways and take various forms.  A self employed woman, working from home, may reward herself for a long morning of work by resting on her back porch and sipping an iced tea as she looks over the new growth of her garden.  A man who supervises the work of twelve employees may be able to view the number of completed bids and reward the quickest and most efficient and high quality worker of the week with a $50 bonus award for that time period.  Even a young girl who waitresses on her free evenings while attending an out of state university is motivated to smile and attend to her customers as they enjoy their meals, because the reward of higher tips in her pocket at the end of the night is an impetus for her to be as attentive and interesting as she can be.  Use of rewards in the realm of business occurs all the time and motivates workers to be quicker and better producers for the world markets.

Friends utilize the rewards system just as people in other types of relationships rely on rewards, and understanding more about how friends motivate one another can illustrate the effectiveness of the use of rewards in friendships.  If a teenager needs a ride to the dance, and her parents are busy and cannot take her, a good friend may offer her and her date a ride and the chance to go on a double date.  The rewards for the kind actions of the friend who has a car for the night may be for the other people to offer gas money to the driver or for everyone to chip in for the driver’s meal.  Kind actions which take notice of another person’s generosity are the foundation of the rewards system.  If a man is very nervous about the birth of his twin sons and feels like he needs a good friend nearby, he may call his buddy at 2 AM and ask him to come to the hospital for support.  The friend who wakes up in the middle of the night and sits in the hospital waiting room in order to offer a kind of emotional assistance may be rewarded later by a hug from his friend, a few minutes with the new little boys and the tired mom, and a nice breakfast in the morning.  The administration of rewards in friendship helps to seal the bond and provides stability in social relationships.

Many people understand and work within the system of rewards, and some people know that the rewards system is always in effect, in a multitude of ways.  Illustrating the concept of rewards and the influence of human motivation by administration of rewards for good behavior can be done in various ways and proven by controlled experiments which take specialized rewards in specialized situations into consideration.  Although the rewards system has a long and enduring history, it would do humanity well to focus more attention on the concept of rewards systems within human social systems, because having an impetus to do something, being genuinely encouraged to do something, has much more power and positive effects than coercion or manipulation, negative force which does not promote inspiration or further activity.  It is good to understand the difference between forced behaviors lacking rewards, which cause stagnation and even dysfunction, and rewards for jobs well done, which promote good will and general functionality in human systems.  If a true rewards system is in place, either in the form of self-rewarding behaviors or other-rewarding behaviors, then the social system will function in a flowing and high quality fashion, calling attention to the constant positive relationship between rewards and motivation and the constant positive effect of rewards and motivation on human interaction and human societies.

Works Cited

Deci, Edward, Koestner, Richard & Ryan, Richard.  “A Meta-Analytic Review of Experiments Examining the Effects of Extrinsic Rewards on Intrinsic Motivation.”  Psychological Bulletin

125.6 (1999): 627-668.

Examples of Students Essays

Blue Nile Case Questions Essay Example

Blue Nile Case Questions Essay

Blue Nile Case Questions 1 – Blue Nile Case Questions Essay introduction. How strong are the competitive forces confronting Blue Nile and other online retail jewelers? Which one of the five competitive forces is the strongest? Do a five-forces analysis to support your answer. The competitive forces that are confronting Bule Nile and other online retail jewelers are strong. The threat of new entrants is high because the brick-and-mortar stores have a low cost of entry into the online retail of their jewelry. The threat of substitutes is low because there are not substitutes readily available that are of the same quality or performance.

The bargaining power of the suppliers is moderate because there is not a surge in the availability of supplies, products are differentiated, and the products are critical to the production process. The bargaining power of the buyers is moderate to high. The buyers in the industry are the customers because the online jewelers normally sell directly to the individual. The cost to switch to competing products are low, buyers have the ability to postpone purchases and even though the products can be differentiated almost all jewelers sell the same products.

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The last competitive force is rivalry among competitors. This force is moderate to high because the buyer demand is growing but buyers are still skeptically about purchasing jewelry before seeing it in person. Buyer costs to switch brands is low and there are numerous competitors because they not only have to compete with other online retailers but also with brick-and-mortar stores. The strongest competitive force in my opinion would be rivalry with bargaining power of buyers as a close second. 2.

What key factors will determine a company’s success in the online jewelry business in the next 3-5 years? The first key factor that will determine a company’s success in the online jewelry business is if their website has features that are consumer friendly and if there website is functional. The next key factor is the speed of delivery. Is the turnaround time of purchasing and receiving the product more beneficial then getting it from a brick-and-mortar store. Are the products that they sell and the customer service they offer of high quality. . What is Blue Nile’s competitive strategy? Blue Nile’s competitive strategy is a best-cost provider strategy. They strive to provide a user-friendly website, to empower their customers with knowledge and confidence as they evaluate, select, and purchase diamonds and fine jewelry. And they strive for 100% on time delivery rate, lean operating costs and a lower price because of lower inventory and fewer employees. 4. What type of competitive advantage is Blue Nile trying to achieve?

Blue Nile is trying to achieve a competitive advantage by having exclusive arrangement with diamond and gem suppliers’ so that it will give significant pricing advantages as well as, gain sales and market share by having high quality products that are backed by certifications, a wider product selection, and a user-friendly website. They also strive for high customer satisfaction and lean operating cost. The resources stated above are valuable because they are directly relevant to the company’s strategy. The resource of exclusive arrangements and the lean operating costs are rare.

The only two resources that are hard to copy are the exclusive arrangements and the customer satisfaction. 5. What does a SWOT analysis of Blue Nile reveal about the overall attractiveness of its situation? The strengths of Blue Nile are they have a lean operating cost, high quality products that are backed by certifications, user-friendly website and on time deliveries. A weakness is the customer can’t handle the product before they buy it. The opportunity of Blue Nile is to expand their online presence.

The threats that Blue Nile face are intense competition by other online retailers, blood diamonds, and change in consumer tastes. The overall attractiveness is that it has high strengths and opportunities but need to make sure that they have a good defense against threats so that it can lower the risks that profits will decrease. 6. What is your appraisal of Blue Nile’s financial performance based on the data in case Exhibit 5 (see Case Exhibit 4. 1)? Their net profit margin is lower in 2009 than 2005 but from the recession is 008 their net profit margin is increasing. An average return on equity is 12-15% and Blue Nile has an average of 32% and the spike in 2008 is because of their repurchasing of stock but if you disregard 2008 they have had a steady increase. With a low debt to equity if they needed to borrow money it is signals creditworthiness and with a low debt to asset they have less of a risk to go into bankruptcy. Their current ratio is higher than one but decreasing until 2009 and now it is back to increasing which means that they will be able to pay current liabilities.

Please see the excel worksheet for graphs and calculations. 7. What strategic issues and problems does Blue Nile management need to address? The strategic issues and problems that face Blue Nile are their lack of marketing and advertising. They also face the issue of lacking to expand into global networks. 8. What recommendations would you make to Blue Nile management to strengthen the company’s competitive position and future strategic and financial performance?

One suggestion that I would recommend is a possible partnership with a brick-and-mortar store so that customers will be able to go to a store and handle the merchandise before purchase. A second recommendation is to increase advertising they should advertise of TV and in magazines. A third recommendation is that they need to expand their markets. To achieve this recommendation they should do research into different markets and see which one that fits their strategy best and go into that market.

Examples of Students Essays

MCI Takeover Battle: Case analysis questions Essay Example

MCI Takeover Battle: Case analysis questions Essay

MCI Takeover Battle: Case analysis questions

1 – MCI Takeover Battle: Case analysis questions Essay introduction. What are the strengths and weaknesses of Verizon, MCI, and Qwest? Where are the synergies in the proposed combination?

More Essay Examples on Management Rubric

2. Evaluate the two offers in Exhibit 7. What explains the two structures? In each case, what is the value to MCI shareholders?

3. Merger arbitrage (or risk arbitrage) funds speculate on the completion of stock and cash mergers, typically buying the target and hedging the risk of the acquirer’s shares accordingly to exchange ratio in stock mergers. What positions would risk arbitragers take in this deal? How would their positions change if the board appears to favour Quest offer?

4. Consider the Worldcom-MCI merger and the Qwest-US West merger. Trying to avoid hindsight bias, should the board of MCI and US West have accepted these offers? What is the obligation to shareholders? Was that obligation fulfilled? What about WorldCom and Qwest? Did their shareholders benefit?

5. Which offer should MCI accept? Why?

6. What approach should Verizon take to win takeover context?

Qwest? 1.How much confidence do you have in your estimate of synergies? We believe that the estimates of synergy given by the management is fairly reasonable. Based on the following factors

•Both the firms had a complementary line of business. The merger created a securities servicing and asset management behemoth that can rival any bank or asset manager in the world. BNY will be able to piggyback off mellon and the presence they have established in the asset management world.At the same time Mellon can take advantage of BNY’s corporate trust business . The merger would make available BNY’s institutional funds to Mellon financial clients .

•In addition to cross selling , the executives believed that new product offerings could be designed to give combined enterprise new source of growth •Despite their past rivalry , the cultures of the two companies were highly compatible

•The expected reduction in workforce of about 10% and streamlining of operations in New York and Pittsburg will further help in reducing the cost •The managers were conservative in their estimate of synergies as they did not take into account the revenue synergies Some of the possible risk were

•The possibility of client loss which is higher then expected •The integration of two large diversified financial companies could pose a distraction to managers and divert attention from the important task of growing business •There was a possibility of regulatory interference and delays

Examples of Students Essays

Profitability Analysis of Steel Industry Essay Example

Profitability Analysis of Steel Industry Essay

Industrial Organization and Competitive Strategy Analysis of competitive advantage of Tata Steel in the Indian Steel Industry – Profitability Analysis of Steel Industry Essay introduction. Submitted by:- Himanshu Singh, G12024 Paul Jacob, G12034 Aninda Goswamy, G12008 Objective: This study has multiple goals:- 1. To find out if Tata Steel does enjoy a competitive advantage vis-a-vis other players in the Steel industry in India. 2. To ascertain the source of this competitive advantage. 3. Find out if this competitive advantage is sustainable. Industry Overview India today is one of the topmost producers of steel in the world.

With the industry attributes like low cost manpower and abundance of iron ore and coal reserves India today is a highly competitive market. The reasons for expansion of the sector can be primarily attributed to the huge expansion of the oil and natural gas sectors on infrastructure projects coupled with growth in housing, and the increase in demand for consumer durables and automobiles. According to the World Steel Association, India is the fourth largest producer of crude steel. India has an annual capacity of 80 million tons.

More Essay Examples on Steel Rubric

With the government laying a lot of emphases on the infrastructure space the sector is poised to grow. The 1991 economic reforms has propelled the industry and its growth, and the steel industry has been positively been affected by it. With the licence requirement being removed and the Automatic approval of foreign equity investment up to 100 per cent is now available. Price and distribution controls were removed 20 years ago in an effort to make the steel industry more efficient and competitive. Restrictions on external trade, both on imports and exports have been abolished.

Meanwhile, import duty rates have been reduced considerably. Certain other policy measures such as the reduction on import duty of capital goods, the convertibility of the rupee on trade accounts, the ability to mobilise resources from overseas financial markets, and the simplification of the existing tax structure for a period of time have all benefited the Indian steel industry. There has been focus on setting up of more steel plants and thus 222 memoranda of understanding (MoU’s) in conjunction with state governments have been signed for a planned capacity expansion of around 275. MT by 2020. The construction industry is what amount to 61% of the consumption of steel. Govt expects steel consumption to rise to 120 Mn by 2020 . Government steps to Promote the steel industry * 100% FDI is allowed in the steel industry * Public-Private- Partnership (PPP) mode are being encouraged * R&D in this sector is a prime focus * Custom duty have been reduced * National Steel Policy (NSP) to encourage the steel industry to reach global benchmarks Market Size The current market size at US$55. 1 billion. And SAIL is a dominant market player of 20. % while tata has 10. 2% of the market. Total demand of steel is today looks at 65. 2 million tons during FY11 Investments: * Rashtriya Ispat Nigam Ltd (Visakhapatnam Steel Plant) has announced US$970 million worth of new units through expansion of its plants. * The Steel Authority of India Ltd (SAIL) is to set up processing units in Uttar Pradesh (UP). * India’s largest iron ore miner, National Mineral Development Corporation Limited (NMDC) and Russian steel maker Severstal signed the implementation protocol in Moscow for setting up a joint venture steel plant in Karnataka. Notable overseas investments in the sector include: * JFE (Japan) investment of US$1 billion in JSW Steel – Technology tie-up and acquisition of minority stake * ArcelorMittal (Global) investment in Uttam Galva * Joint venture between Nippon Steel (Japan) and Tata Steel for production of Automotive Steel. * Bao Steel (China) entered in a Joint Venture with Visa Steel for production of Ferro Chrome in India. * POSCO Steel (South Korea) has announced an investment of US$12 billion for setting up a 12 million ton geenfield steel project in India. Future * Indian Crude Steel projected CAGR growth is 10% Availability of raw materials, cheap labor, favourable government policies will continue to drive demand. * International steel conglomerates may look to partner with local players with capacities in the range of 0. 5 million tons to 2 million tons Company Profile: TATA Steel Tata Steel is one of India’s largest steel organizations. Established 1907 in Mumbai as “TATA IRON AND STEEL COMPANY” it has a production capacity of 40 Mn. tonnes a year. It is also world’s sixth largest steel company. With a presence in more than 60 + countries and manufacturing units in 30+ countries the company can be called truly global.

It is india’s largest private sector steel organisation in terms or domestic production. Tata Steel is also India’s second-largest and second-most profitable company in private sector in terms of consolidated revenues. Its main plant is located in Jamshedpur, Jharkhand, with its recent acquisitions, the company has become a multinational with operations in various The company was also recognized as the world’s best steel producer by World Steel Dynamics in 2005. In the year 2000,the company was recognised as the world’s lowest-cost producer of steel.

The company manufactures finished steel, both long and flat products like hot and cold rolled coils and sheets, galvanized sheets, tubes, wire rods, construction re-bars, rings and bearings. The company markets its products in brands like “Tata Steel, Tata Tiscon, Tata Pipes, etc. It has captive iron ore and coal mines located in the states of Orissa, Jharkhand, Maharashtra, Gujarat and West Bengal. With its head office located in Mumbai, the company functions through a network consisting of trading arms and operation and projects sites spread across countries in the continents of Asia, Europe and America.

Apart from Steel there are six Strategic Business Units or divisions for Bearings, Ferro Alloys and Minerals, Rings and Agrico, Tata Growth Shop, Tubes, and Wires. With the acquisition of Corus, Tata steel has become the fifth largest steel maker in the world. Analysis: * Competitive Advantage The competitive advantage enjoyed by a firm would manifest itself in higher profits for the firm as compared to the industry average for a period of time. In our context, the industry concerned is the Indian Steel Industry.

For the purpose of our study, we have assumed the composition of Indian Steel Industry to consist of the following companies:- 1. Tata Steel| 2. JSW Steel| 3. SAIL| 4. Essar steel| 5. Bhusan steel. | 6. JSW Ispat| 7. Visa steel. | An analysis of the gross profit margin of these companies was made for the year 2003 to 2012. The results are shown in Table 1. Table 1: Gross Profit Margin (in %) for Steel Companies in India Name of Company| 2003| 2004| 2005| 2006| 2007| 2008| 2009| 2010| 2011| 2012| Tata Steel| 20. 4| 31. 7| 40. 2| 38. 8| 39. 8| 37. 7| 33. 7| 31. | 34. 2| 32. 1| JSW Steel| 7. 3| 20. 1| 28. 3| 22. 4| 28. 6| 23. 4| 14. 5| 17. 3| 14. 1| 12. 1| SAIL| 6. 0| 17. 9| 36. 1| 24. 1| 29. 9| 25. 1| 17. 5| 19. 4| 12. 9| 9. 7| Essar| 7. 0| 10. 5| 24. 5| 19. 3| 17. 8| 14. 8| 14. 4| -| -| -| Bhusan| 12. 2| 13. 1| 13. 0| 12. 4| 15. 1| 14. 9| 17. 2| 22. 1| 25. 2| 24. 0| JSW Ispat| 3. 9| 6. 9| 15. 8| -11. 0| 8. 0| 7. 6| 5. 8| 5. 9| -3. 4| 1. 3| Visa| 5. 1| 3. 7| 6. 0| 8. 2| 10. 0| 12. 8| 5. 9| 13. 2| 11. 7| 2. 1| Average| 8. 8| 14. 8| 23. 4| 16. 3| 21. 3| 19. 5| 15. 6| 18. 2| 15. 8| 13. 5| Source: Moneycontrol. com

A comparison was made between the profit margin of Tata Steel and the Industry for these years. The results are shown below: Table 2: Comparison of profitability of Tata Steel with the Industry Years| Industry Average| Tata steel| 2003| 8. 85| 20. 38| 2004| 14. 82| 31. 65| 2005| 23. 41| 40. 17| 2006| 16. 31| 38. 81| 2007| 21. 31| 39. 84| 2008| 19. 47| 37. 7| 2009| 15. 56| 33. 69| 2010| 18. 22| 31. 36| 2011| 15. 80| 34. 2| 2012| 13. 55| 32. 09| It was decided to test whether the difference in profitability of the two groups is statistically significant or not.

The results are shown below in Table 3. Table 3: Results of Statistical test for difference in profitability Paired T-Test and CI: Industry Average, Tata steel | | Paired T for Industry Average – Tata steel| | N Mean StDev SE Mean| Industry Average 10 16. 73 4. 13 1. 31| Tata steel 10 33. 99 5. 88 1. 86| Difference 10 -17. 260 3. 053 0. 965|  | | 95% CI for mean difference: (-19. 444, -15. 076)| T-Test of mean difference = 0 (vs not = 0): T-Value = -17. 88 P-Value = 0. 000|

The results show that the difference is significant at the 5% significance level as indicated by the P-value which is zero in this case. This suggests that Tata steel does enjoy a competitive advantage over other players as evident in its gross profit margins which are significantly higher. * Source of Competitive Advantage After establishing that Tata Steel does enjoy a competitive advantage, it is now essential to find out the source of this competitive advantage. A research in to the various aspects of the steel production and distribution process suggests the following alternatives:- 1.

Ownership of mines (Resulting in low cost of raw materials). 2. Strong brand image. 3. Superior distribution network. 4. Superior value proposition (Greater benefits to customers). A thorough analysis of each of these factors tells us that although brand image is important, it cannot perpetually be a source of competitive advantage as other players would also endeavour to build their respective brands and eventually may come on par. Also a distribution network can be source of competitive advantage in the short run, however in the long run this is imitable and hence not sustainable.

Moreover steel being a commodity item, it is difficult to only follow the strategy of differentiation and expect long term profits due to this strategy. Hence it is felt that low cost of raw materials could be the source of this competitive advantage. The low cost of raw materials is primarily due to availability of captive mines and these mines being run efficiently. We would like to this hypothesis statistically. To do that we compare the cost of raw materials for the industry with that of Tata Steel and try to see if there is any significant difference.

Table 4: Coats of Raw Materials as a % of Cost of Production Name of Company| 2012| 2011| 2010| 2009| 2008| 2007| 2006| 2005| 2004| 2003| Tata Steel| 26. 16| 28. 67| 31. 71| 30. 91| 26. 99| 28. 93| 27. 33| 27. 76| 28. 77| 22. 79| JSW Steel| 62. 72| 59. 94| 57. 11| 59. 86| 49. 82| 46. 45| 51. 14| 43. 21| 43. 35| 43. 54| SAIL| 47. 10| 45. 81| 43. 32| 45. 47| 37. 21| 40. 46| 43. 21| 34. 59| 36. 96| 41. 47| Essar| | | 43. 39| 32. 49| 33. 70| 36. 52| 31. 60| 30. 98| 35. 28| 31. 80| Bhusan| 52. 70| 51. 30| 60. 17| 61. 29| 63. 89| 67. 02| 71. 27| 73. 55| 65. 24| 60. 52| JSW Ispat| 64. 80| 64. 76| 55. 13| 54. 61| 50. 2| 48. 58| 54. 45| 50. 93| 53. 90| 52. 87| Visa| 93. 35| 77. 10| 74. 10| 75. 22| 68. 38| 74. 68| 70. 33| 74. 38| 81. 64| 73. 77| Average for the industry| 49. 55| 46. 80| 52. 13| 51. 41| 47. 20| 48. 95| 49. 91| 47. 91| 49. 31| 46. 68| Source: Moneycontrol. com We compare the average cost of materials of the industry with that of Tata steel and test if their difference is statistically significant at the 5% significance level. Table 5: Results for statistical test for comparison of cost of raw materials for Tata steel and Industry average Years| Industry Average| Tata steel| 2003| 49. 55%| 26. 16%| 2004| 46. 0%| 28. 67%| 2005| 52. 13%| 31. 71%| 2006| 51. 41%| 30. 91%| 2007| 47. 20%| 26. 99%| 2008| 48. 95%| 28. 93%| 2009| 49. 91%| 27. 33%| 2010| 47. 91%| 27. 76%| 2011| 49. 31%| 28. 77%| 2012| 46. 68%| 22. 79%| Paired T for Industry Average – Tata steel| | N Mean StDev SE Mean| Industry Average 10 0. 48984 0. 01869 0. 00591| Tata steel 10 0. 28003 0. 02498 0. 00790| Difference 10 0. 20981 0. 01759 0. 00556|  | | 95% CI for mean difference: (0. 19722, 0. 22239)| T-Test of mean difference = 0 (vs not = 0): T-Value = 37. 71 P-Value = 0. 000|

We see that the difference is statistically significant at the 5 % significance level as the P-value is 0. So we can conclude that the cost of raw materials for Tata Steel is significantly lesser than for the entire industry. It is also concluded that this low cost of raw materials is the source of competitive advantage for Tata Steel in the Indian Steel industry. * Sustainability of Competitive Advantage By investing in companies like Corus, Millennium Steel and NatSteel Holding, it is seen that Tata Steel has made both manufacturing and marketing network in Europe, South East Asia and the pacific-rim countries.

Another interesting fact is the Tata steel with this kind of scale even today remains backward integrated with own iron ore mines and collieries, The company is also striving for raw material security through joint venture in Thailand, Australia, Mozambique, Ivory Coast and Oman. This is truly a competitive advantage which has sustained over a period of time, and has resulted in effective operations and rampant modernisation of the Tata steel plant. Tata steel is among the lowest cost steel producers today.

Another very important factor is the Research & Development and Scientific Services division of Tata Steel Limited at Jamshedpur, set up in 1937. The research lab is famous for its patents and research capacity across the globe. It has three departments – Research and Development, Scientific Services and Refractory Technology Group which support the Tata Steel group, particularly its operations in India and South East Asia. It has been instrumental in developing new products and processes to create competitive advantage, better environmental performance and enhanced sustainability.

Capacity expansion is a key strategy for Tata Steel in India, it derives much of its competitive advantage as a low-cost producer from the quality and yield of its raw material sources. Work is currently under way to increase steelmaking capacity at Jamshedpur to 9. 7 mtpa of crude steel by 2012. This additional capacity will enable the company to increase its market share in flat products and to use its existing resources more efficiently, including manpower, utilities and its captive mines. Customers are looking for variety of quality products, these products are often tailored individually to their specifications –reliability and lexibility in supply and service; innovation, and technical support to provide them with differentiation and competitive advantage, Tata steel has been in a position to differentiate itself. Another competitive advantage observed is the dedicated and effective staff that ensures the sustained growth Tata steel, with more than 65,000 employees Tata steel is one of the biggest employers today in India. It has developed its own ecosystems which are self sustaining and has grown multi fold over the last few years. Conclusion

The analysis shows that TATA Steel does enjoy a competitive advantage over other steel makers due to its low cost of raw materials. It can be concluded that TATA Steel would be able to maintain this competitive edge over other steel makers primarily because of the following strategies:- * Continual ownership of mines and natural resources. * Acquisition of mines and natural resources in other countries such as Mozambique. * Difficult for other players to acquire mines because of government regulations. * Superior brand image. * Superior product offerings.

Examples of Students Essays

Family Communication to Resolve Conflicts Essay Example

Family Communication to Resolve Conflicts Essay

All these reasons that justify an interest in family communication in general also justify an interest in family conflict communication in particular – Family Communication to Resolve Conflicts Essay introduction. How persons communicate during interpersonal conflict is of paramount relevance in determining the quality and stability of their close interpersonal relationships, including family relationships. In the marital context, Gottman (1991, 1994) reported that couples that manage interpersonal conflict well in their relationships report greater relationship satisfaction, more love and respect for their partners, and greater commitment to their partners.

Similar findings are reported for family conflict. Families that manage their conflicts well have more satisfied parents and children, and children perform better in school and in peer relationships (Sillars, Canary, & Tafoya, 2004). Thus, family conflict is an important determinant of relationship quality and quality of life of family members. In addition, the conflict communication behaviors socialized in families are among the most important behaviors learned in families that affect children’s subsequent interpersonal relationships, further strengthening the case for studying family conflict.

More Essay Examples on Family Rubric

Finally, harmful communicationand child abuse, which constitute the third reason to study family communication mentioned above, are more likely to occur during family conflict than during any other time of family communication (Anderson, Umberson, & Elliott, 2004), which makes a thorough investigation of family conflict all the more pertinent. Despite these good reasons to study family communication in general and family conflict communicationin particular, in reviewing the relevant literature, it became apparent to us that is not easy to integrate the literature on family conflict.

The main reasons are inconsistent conceptualizations of both conflict andcommunication, as well as of the relationship between them. These problems notwithstanding, in the following pages we discuss, first, how conflict and communication have been conceptualized in various studies of family conflict. We then propose definitions of both conflict and family communication that allow us to integrate at least some of the findings on family conflict and to discuss the relevant literature utilizing these efinitions. In particular, we focus on the role that conflict plays in family communication at different stages of family development and in different family types. This discussion is followed by a review of the consequences of family conflict and how family conflict affects family relationships and family members’ psychological well-being and social functioning. Finally, we address issues surrounding violence in families related to conflict, including factors affecting violence and its consequences.

In our conclusion, we argue that family conflict is best understood in the context of more general family communicationprocesses, such as family communication patterns, and point to some of the lacunas in the research that warrant future investigation, including a more careful investigation of the roles of culture and ethnicity. Defining Family Communication In the broadest sense, family communication can be defined as all interactive behaviors of family members that establish family roles, maintain family rules, accomplish family functions, and sustain behavioral patterns in families (Vangelisti, 2004).

In other words, all verbal and nonverbal behaviors by which family members affect one another and enact their interpersonal relationships with each other. The breadth of this conceptualization of family communication has the advantage that it opens for investigation bycommunication scholars all interpersonal behaviors. In addition, this conceptualization makes explicit the fact that interpersonal relationships are complex and that virtually any type of behavior can be interpersonally meaningful.

Finally, this conceptualization highlights some of the underlying assumptions about family communication that researchers are making. The first and probably most important of these assumptions is that family communication is a function of both psychological and interpersonal processes (Koerner & Fitzpatrick, 2002a, 2004). This means that familycommunication has an unequivocally empirical component in family members’ behaviors that is observable by family members as well as by outsiders, such as researchers or counselors.

In addition, however, familycommunication also has a psychological component residing within each family member’s cognition that is neither observable nor controllable by anybody, except maybe the family member him or herself. As a consequence, each family member aware of an interpersonal behavior partially determines the meaning of that interpersonal behavior individually and idiosyncratically, regardless of any intentions by the actor or any interpretations of the behaviors by others.

That means that every interpersonal behavior can, and frequently does, have multiple meanings in the family context, without there being a final arbiter determining meaning for all family members. Because family members respond to behavior of others at least partially based on the meaning that they assign to it, coordinated behavior is difficult for family members unless families develop strategies to address the inherent ambiguity of meaning.

One approach families use to deal with the inherent ambiguousness of the meaning of their behaviors is to establish intersubjectivity, or a shared social reality (McLeod & Chaffee, 1972, 1973). This intersubjectivity allows them to interpret the behaviors of family members consistently and to predict how other family members interpret their own behavior. In short, intersubjectivity allows family members to assign similar meanings to their behaviors, to understand one another, and ultimately to coordinate their behaviors.

Intersubjectivity, however, is never perfect—in the sense that all family members share an identical social reality. In the final analysis, each family member’s social reality also is always influenced by experiences and beliefs that are uniquely the member’s own and that are not shared by other family members. Thus, even in families that achieve high intersubjectivity, there is always an element of idiosyncrasy and uncertainty about meaning that may lead to misunderstandings and difficulties in enacting relationships. In other words, family communication is inherently problematic.

To say that family communication is problematic is to acknowledge at least three consequences that stem from the inherent ambiguity of meaning and that can be summarized as follows. First, any behavior enacted within the context of a family relationship may or may not be meaningful to anyone within the family who is aware of the behavior. Thus, any given behavior may or may not have meaning for the actor, may or may not have meaning for the receiver of the behavior, and may or may not have meaning for other family members aware of the behavior.

Second, there can be no absolute certainty about the meaning that any given behavior has for anyone within the family. It is possible that family members agree about the meaning of a behavior, but it is also possible that different family members assign very different or even contradicting meanings to the same behavior. Finally, because family functioning requires a minimum of shared social reality (Koerner & Fitzpatrick, 2004), families spend a considerable amount of time and energy establishing a shared social reality by negotiating the meaning of their behaviors.

Because this negotiation is ongoing, one could argue that family communication is inherently conflicted. The inherent ambiguity of meaning in families is not only problematic for families, however, but for scholars researching and theorizing about family communication as well. Simply put, to be adequate, theoretical explanations of family communication must account for both the cognitive and the behavioral aspects of family communication.

In other words, theoretical models of family communication must be simultaneously anchored in the abstract and immaterial world of cognition and in the concrete and material world of behavior. Defining Family Conflict Like family communication, interpersonal conflict, including family conflict, has both psychological and behavioral attributes and can be defined in both terms. One example of a psychologically based definition of conflict is perceived goal incompatibility (Fincham, Bradbury, & Grych, 1990).

In this definition, conflict is the perception by at least one person that another person is blocking the first person from achieving a personal, relational, or instrumental goal. That is, for there to be interpersonal conflict in this definition, the other person or persons in the relationship do not even have to be aware that the original person is perceiving an incompatibility of goals or goal blockage. Because in this definition conflict is not necessarily expressed in interpersonal behavior, most scholars interested in interpersonal communication employ more behavioral-oriented definitions.

Examples include Cahn (1992), who identified three types of conflict communication as specific disagreements, problem-solving discussions, and unhappy/dissolving relationships, respectively; Donohue and Kolt (1992), who defined conflict “as a situation in which interdependent people express (manifest or latent) differences in satisfying their individual needs and interests, and they experience interference from each other in accomplishing these goals” (p. 4; emphasis added); and Straus (1990), whose Conflict Tactics Scales measures behavioral manifestations of conflict such as problem solving, yelling, and pushing.

The range of behaviors covered by even such behavioral definitions, however, is still very large. In Donohue and Kolt’s (1992) definition, for example, conflict behaviors range from “latent conflict” and “problem to solve” to “dispute,” “help,” “fight/flight,” and finally to “intractable. ” Similarly, Straus distinguishes between three types of conflict behaviors: “reasoning,” which refers to rational discussion and problem-solving behaviors; “verbal aggression,” which refers to behaviors intended to hurt the other symbolically; and “violence,” which refers to behaviors enacted to inflict physical pain and/or injury.

Given this wide range of behaviors covered by the conceptual definitions and operationalizations of interpersonal conflict, it should be apparent that it is almost impossible to evaluate the research on family conflict in a holistic sense. Rather, it is necessary to distinguish between different types of conflict behaviors to fully assess the antecedents and consequences of family conflict. One frequently used way to distinguish between different types of interpersonal conflict has been to focus on the relational outcomes of conflict behaviors and to label them accordingly as either functional (i. . , constructive) or as dysfunctional (i. e. , destructive) (Deutsch, 1973; Donohue & Kolt, 1992). Such a distinction is meaningful as long as it can be assumed that there are conflict behaviors that fairly consistently lead to positive outcomes and conflict behaviors that fairly consistently lead to negative outcomes. This distinction is often motivated by the desire of the researchers to identify and teach “ideal”communication and relationship skills. Because of the already discussed ambiguity of meaning of behaviors, however, such an assumption can be a weak one at best.

Nonetheless, research on constructive and destructive conflict communication has led to the identification of teachable conflict communicationskills that often do have positive relational outcomes and that allow families to improve the quality of their problem solving and ultimately their interpersonal relationships (e. g. , Christensen & Jacobson, 2000; Donohue & Kolt, 1992; Gottman, 1994). In addition to the inherent ambiguity of conflict behaviors, another important problem in identifying constructive versus destructive conflict behaviors is that the standards by which conflict behavior is determined to be either onstructive or destructive also are far from unambiguous. Whereas it is relatively easy to make theoretical distinctions that employ fairly abstract concepts such as “interest versus needs centered” and “bolstering versus compromising interdependence” (Donohue & Kolt, 1992), when labeling conflict as either constructive or destructive, judging concrete behaviors using the same abstract concepts is much more difficult. In addition, it is not entirely possible to separate the relational outcomes of conflict from its material or practical outcomes.

Although process does matter, persons’ relationship commitment and satisfaction is at least partially dependent on the extent to which they are able to obtain desired material or practical outcomes from their interpersonal conflicts. Thus, whether conflict is ultimately constructive also depends on whether conflict is judged using a long or short-term perspective; whether these outcomes are psychological, behavioral, or relational; and finally, from whose perspective the outcomes are judged.

As we suggested earlier, at the root of many family conflicts are incompatible goals or interests of family members, making it almost inevitable that any outcome has to be evaluated differently depending on whose perspective is used when making the evaluation. An alternative way to distinguish between different types of conflict is based on observable qualities of behaviors rather than more abstract qualities such as psychological, behavioral, and relational outcomes. For example, Straus (1990), in his work on interpersonal conflict, distinguished between reasoning, verbal aggression, and violence as types of conflict behaviors.

Although in much of his work Straus is dedicated to demonstrating different outcomes associated with these conflict behaviors, the distinction is made based on an evaluation of the behaviors themselves, not necessarily their outcomes. That is, even though Straus uses the probable outcomes of conflict behaviors to make arguments for the use of reasoning and against the use of verbal aggression and violence, his rejection of verbal aggression and physical violence is based as much on negative moral evaluations of the behaviors themselves as on the negative outcomes of the behaviors.

In this view, for example, the verbal abuse or beating of children is rejected based on the immorality of the behavior itself, independently of whether those behaviors actually harm the child’s self-esteem or social functioning. Of course, how moral a behavior is always also depends on its consequences, but not exclusively so. Thus, verbal aggression against a child is immoral partially because it has negative consequences for the child, but not for that reason alone. Verbal aggression is immoral simply because it attempts to hurt a weaker person, which violates fundamental assumptions about justice and fairness.

Differentiating between reasoning, verbal aggression, and physical violence, which essentially groups behaviors into categories along an intensity dimension, is not the only way to distinguish between overt conflict communication behaviors. Sillars et al. (2004), in a recent review of family and marital conflict, classified different types of conflict behaviors identified by other researchers as falling into four types based on two underlying dimensions. In their model, the first dimension distinguishes direct from indirect communication, and the second dimension distinguishes cooperative from competitive communication.

The four resulting types are negotiation (direct and cooperative), which includes behaviors such as agreement, analytic remarks, communication talk, description, expressing, problem solving, summarizing, and validating; direct fighting (direct and competitive), which includes behaviors such as blaming, coercive acts, confrontation, disagreement, invalidation, and rejecting acts; nonconfrontation (indirect and cooperative), which includes behaviors such as facilitation, irreverent remarks, resolving acts, and topic management; and indirect fighting (indirect and competitive), which includes behaviors such as denial, equivocation, dysphoric affect, and withdrawal. As in Straus’s (1990) typology, conflict types are determined based on observed communication behavior and not on the perceived desirableness of the outcomes, although direct and cooperative communication is generally viewed to lead to more positive outcomes than indirect and/or competitive communication. As this short review demonstrates, it is possible to define conflict variously in both psychological and behavioral terms.

Each approach has its own distinct strengths and weaknesses, and no one definition of conflict and conflict behaviors is unequivocally superior. In the context of family communication, however, there seems to be a preference for definitions of conflict based on behavior over definitions based on psychological or otherwise unobservable outcomes. The main reason, in our estimation, is that behavioral definitions avoid having to deal with the inherent ambiguousness of meaning of communicative behaviors because their empirical nature allows them to be assessed fairly objectively from the perspective of a third-party observer rather than having to rely on the perceptions and biases of individual family members.

In addition to their greater ecological validity, the clarity that results from the empirical nature of behavioral definitions makes it possible to compare research stemming from various academic disciplines, which facilitates theory building and testing and increases researchers’ abilities to advance their knowledge of family conflict. Our own inclination is to conceptualize and define conflict generally, in its broadest terms, which means including both its cognitive and behavioral aspects, because it is consistent with our similarly broad definition of family communication. Of course, at times it will be necessary to use more narrow definitions of conflict to investigate specific phenomena or test particular hypotheses. But this should not be a problem as long as such more narrow definitions and their limitations are acknowledged from the outset and taken into consideration when interpreting results from studies employing such definitions.

Having defined familycommunication and conflict, it is now possible to assess the frequency of conflict in families and how conflict behaviors are enacted and learned in families. Frequency and Intensity of Conflict Of all interpersonal relationships, family relationships are arguably the most conflicted (Shantz & Hartup, 1992; Shantz & Hobart, 1989). Not only is conflict inevitable in close, interdependent relationships such as family relationships (Deutsch, 1973), conflict behavior is also more frequent in family relationships (including marital, parent-child, and sibling relationships) than in peer or work relationships (Sillars et al. , 2004). In addition to being conflicted, family relationships are also among the most physically violent social relationships persons have.

Despite significant changes in social norms that have made acts of severe violence (including kicking, punching, and attacks with objects) unacceptable or illegal in spousal, parent-child, and sibling relationships, severe violence occurs in at least 8% of all marital relationships, 11% of parent-child relationships, and 36% of sibling relationships (Straus & Gelles, 1990). Frequencies of less severe violence (e. g. , shoving, pushing, and slapping), which is more likely to be both legal and socially acceptable, are much higher and can be observed in around 16% of marriages, in almost 100% of parent-child relationships with young children (age

Examples of Students Essays

Human resource management Issues/Diversification Strategies Essay Example

Human resource management Issues/Diversification Strategies Essay

In this paper, I will present an analysis of Nucor Corporation – Human resource management Issues/Diversification Strategies Essay introduction. The paper will discuss the trends in the steel industry and how it may impact Nucor’s strategy, Discuss the organizational structure and management philosophy at Nucor, Identify three (3) HRM issues related to strategy implementation and recommend actions to address these issues, Based on the situation, recommend whether a related or unrelated diversification should be used by the company. Provide supporting rationale. Also my Recommendation whether a related or unrelated diversification should be used will also be discussed. . Discuss the trends in the steel industry and how it may impact Nucor’s strategy. Blast furnaces were the trend for the major steel producers. The arc furnaces adopted by Nucor led to increased production and cost savings. While using less labor, increased production, and was considered the new most cost-effective strategy among the steel industry the new technology took off. It was Nucor’s first to come up with the decision to adopt this process and be the first to introduce this new process to the United States.

In the late 90s into the 2000s man steel companies went out of business because of the reduce demand for steel. Instead of building new plants and using funds Nucor chose to buy the failing plants and converting them into their production lineup. This also in many cases was a cheaper route than building new plants. The procurement strategy was one of the best moves because the factories were already setup for steel production at mass quantities and Nucor was able to inherit their ties and partnerships as well as their presence in their surrounding geographical area.

More Essay Examples on Human resource management Rubric

The constant drive for efficiency and cost effective production was another strategy chosen to increase competitive advantage, market share, and ultimately become the number one steel producer among heavy competition(Thompson/Strickland/Gamble, 2009). 2. Discuss the organizational structure and management philosophy at Nucor. Nucor had a decentralized organization structure. According to the book, “Nucor had a simple, streamlined organization structure to allow employees to innovate and make quick decisions”. (Thompson, Strickland, & Gamble, 2009).

This made Nucor different from the other steel plants and their organizational structure. The typical firm had a structured series of organization levels, such as Hourly Employee, reporting to a Supervisor, reporting to a Department Manager, reporting to a General Manager. Plant managers for Nucor and their staff were responsible for the day to day operations of the plants. Each plant ran by the plant manager was seen as its own entity and operated independently of other plants. These plant managers reported to 4 executive vice presidents.

Each worker was held accountable for their action with this in place the factory was based on a bonus compensation structure this allowed them to passed responsibility and accountability on to everyone from the lower hourly workers to the top management and was given bonuses base on overage of expected output(Thompson/Strickland/Gamble, 2009). 3. Identify three (3) HRM issues related to strategy implementation and recommend actions to address these issues. Nucor has to remain competitive, Nucor implemented human resource management (HRM) issues related to the strategy implementation.

In looking for recruitment Nucor took the “X” management approach to find new recruitments that had the mindset that would fit into the new organizational style that they were looking for. Nucor criterion was to find personnel which can communicate straight up with others and work with limited supervision. There are three identified HRM issues in this case, as follows: A. Selection and recruitment system: An essential element is the job description which is the determinant of the ‘right fit’ for an organization as it relates to the purpose of a job, aligning the job with the organizational strategy.

In the Nucor’s selection and recruitment system does not use this relevant aspect in the process. Nucor plants do not use job descriptions as this organization is dependent upon the guidelines provided by teammates. In addressing this issue by providing employees with a set of well defined job tasks and responsibilities, which connect to the firm’s identity and values, mission, goals, and strategy directions. This also provides a baseline for employee reviews, salary increases, and the continued direction for organizational goals(Nucor Corp’s Organizational Culture, 2003). B.

Performance appraisal system: The second HRM issue is the lack of a performance appraisal system. Nucor does not view the performance appraisal as an important feature in the organization; hence it is viewed as a chore that requires additional paperwork. In the observation of the management team in Nucor an individualized performance appraisal system could cause an annihilation of strategy implementation. In addressing this human resources issue with a structured appraisal system then management will describe specific tasks identified as acceptable and unacceptable levels of performance.

This will provide guidance for future behaviors and promote employee motivation as the criterion directly relevant to the job(Nucor Corp’s Organizational Culture, 2003). C. Compensation and reward system: The reward system at Nucor emphasized fair pay based on productivity for the whole unit instead of individualized production. Nucor’s pay for performance system encourages high productivity among workers by using pay as a means of raising performance to motivate employees. In this system, the primary focus is on making money thereby not encouraging advancement individually.

To address this issue Nucor organizational culture should focus on building commitment to the achievement on individual company goals rather than on monetary incentives(Nucor Corp’s Organizational Culture, 2003). 4. Based on the situation, recommend whether a related or unrelated diversification should be used by the company. Provide supporting rationale. Nucor had a wide span of steel products. Initially Nucor produced nuclear parts a sense has changed. They are much diversified among steel related products.

Nucor pioneered new technology and new processes to make bolts, fasteners, sheets, as well as rods and applications for all steel products used in a wide array of buildings, structures, and assemblies(Thompson/Strickland/Gamble, 2009). Their wide product span in the steel industry has allowed them to master their craft while remaining one of the leaders in the Steel Industry. Nucor is in relatively strong financial condition to make acquisitions and finance new plant construction without costly levels of debt. Nucor had the production capacity for its acquisitions and purchases of an array of companies from 2001 to 2007.

Some of these acquisitions are as follows: Auburn Steel, Alabama-based Trico Steel, Worthington Industries, Marion Steel Company, Verco Manufacturing Company and the Canada based Harris Steel. In acquiring these assets Nucor can compete in the steel industry dominated by consolidation, thus increasing Nucor’s position in the market(Nucor Corp’s Organizational Culture, 2003). The above companies provide an extensive range of opportunities to leverage cross business value chain relationships which strategically fit into the competitive advantage.

These businesses appeal to Nucor for the related diversification such as skill transfer, lower costs, and the ability to spread the investors’ risks over broader base with stronger competitive capabilities(Nucor Corp’s Organizational Culture, 2003). 5. Based on your recommendation for related or unrelated diversification, identify the organizational structure issues that the company would need to address to implement that diversification. Domestic and international Nucor is face with increasing competition.

Therefore, it is relevant that Nucor continues to grow and increase its global market share. Management team must continue to concentrate in Nucor’s core product and capitalize on a proven successful organizational structure that has worked for them thus far. By aligning all cross business value chains within the related diversification plan in the decentralized structure will create the competitive resources. Also the organizational structure was decentralized to allow the front line workers and managers to be responsible for their success.

This was done by the pay performance pay structure. Under this structure plant workers and managers would receive weekly bonuses if their production exceeded the industry standard. According to (Thompson/Strickland/Gamble, 2009) maintenance workers would rapidly work to repair broken machinery, since no bonus would be paid to those plants whose machine malfunctioned. (Thompson, Strickland, & Gamble, 2009) NO WORK NO PAY.

References

Nucor Corp’s Organizational Culture. (2003). Retrieved February 29, 2012, from ICMR IBS Center for Management Research:

Examples of Students Essays

Threats and Rewards as Motivation Essay Example

Threats and Rewards as Motivation Essay

Motivation can be classed into two aspects, Intrinsic and extrinsic – Threats and Rewards as Motivation Essay introduction. Intrinsic motivation is seen as the internal cause which leads people to undertake a certain task because of their interest in it and the satisfaction and pleasure they receive from doing the job, while extrinsic motivation is generated thorough external inputs, such as incentives, punishment or threats, which makes anyone do a task asked of them. J. Strickler (2006) implies that the sensible knowledge and understanding of human motivation is said to be rooted in 20th century behaviorism, which is an idea made popular by Harvard psychologist B. F. Skinner in the 1930s, who theorized that human behavior is motivated by some form or another by way of external stimuli ( i. e. rewards, incentives, threats or punishments).

This theory helps us see how Incentives and threats can be seen as stirring techniques and tools in motivating and moving people towards a specific goal which can possibly be measured, but finding the needs of individuals and what motivates individuals to behave in the ways required to produce the desired outcome is not a clear straightforward path which has been fully understood, this is supported by F. Wilson (2010) stating that motivation is not simply about identifying a set of requirements associated to an individual or presuming that there is a straightforward correlation between the requirements of the individual and the efficiency of output, unlike Maslow hierarchy theory which tends to suggest people satisfy one need or desire at a time, so if that need is met at that time motivation can be accomplished.

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The use of threats and incentive in specific industries and organizations vary depending on the type of organization, the work force and the kind of people in the organization which reflects on the entire culture of the organization and the goals of the organization. In the case of incentives as motivator, the use of measurable performance based incentive systems have been core elements of private and public sector operation (C. Heinrich et al; 2009), predominantly performance related pay systems (PRP) as monetary incentives in motivation.

The basic theoretical foundation for PRP’s, as motivators in motivation theory can be identified in the theories of Maslow (1943; 1954) and Herzberg (1968), Where they draw on pay as a necessary human requirement for work and the satisfaction of this need in turn leads to some form of motivation at work (S. Pilbeam; 2006), PRP is also a direct link that can be seen between the employer and employee in an employment contract, where an assessment of performance is made based on some perceived contribution or value from the employee to the organization within a specific time frame or period (S. Pilbeam; 2006), for example M. McGee et al (2006) performance improvement experimentation shows how incentives like monetary incentives can affect individuals and groups of individuals differently, testing and showing scenario’s where it did seem to increase peoples’ productivity, especially when based on individual efforts solely and when it also had an adverse effect when it came to group performance, also O. Bandiera (2010) work analysis of incentives in the work place shows that although social incentives reduced individual productivity of some employees, it had on overall positive effect which benefited the organization . O. Richard et al (2009) defines psychological contract as a set of mutual reciprocating promise or commitment linking the individual and organization, based on the individual’s opinion and perception.

So In the case of motivation of employees, if a sound psychological contract is present and some form of reward is anticipated by the employee, for example monetary or punishment reward is implied by the employer in regard to the quantity or quality of work done, then it is easy to see how incentives especially can motivate employee, but to what motivating capacity is another factor which varies in result based on individual circumstances, S. Pilbeam (2006) shows how this assumption can be made based on the early expectancy and equity theories work done by researchers,” equity theory ( Adams, 1965 ) and expectancy theories ( Vroom, 1964; Porter and Lawler, 1968)” , even though these theories had limitation , for example, competitiveness in the organization may arise, which is not generally welcomed or suitable for all organization, leading to adverse effects or employees comparing incentives and rewards and judging them unfair, which may lead to them reducing their work effort.

In the case of threats as motivators, threats of punishment might petrify employees and staff into completing the task at hand as quick as possible but unknowingly to a low standard of quality as they usually would have produced, E. Deci’s earlier research highlights how threats of punishment and sometimes offers of rewards distract employees and hinders their abilities to deliver tasks to a high quality (J. Strickler; 2006).

Threats can be used to motivators even though they might also result in producing some distraction or stress factor in the work environment, for example, this may result in less productivity or reduced production quality, this form of motivator may also induce some form of passive response or resistance to the work at hand, which in return results in extending and dragging on of tasks longer than usual as some subconscious or conscious rebellion, this is highlighted by T. Holmas (2010) et al shows how threats of punishments might have an adverse effect on their recipients.

Theories like McGregor’s X and Y theories, believe humans’ need to be lead and directed because the dislike and avoid work, so threats must be used to direct the individuals to get the work done, (McGregor; 1957; 1960), this helps us see that threats and incentives come in different forms which may be intertwined at the same time, like incentives which actual come which threats as well, T. Dohmen (2005) shows how a task which comes with considerable incentives actually results in a threat to the employee or person, which when examined impacts severely on the employees, increasing psychological pressure which in turn builds stress resulting in the opposite of the required result. In conclusion, I believe that incentives and threats as extrinsic motivators do work in motivating employees but only in a short run of term. It doesn’t seem to be a suitable form of long term motivation, which is what most people and organization need.

Extrinsic incentives like these results in employees doing their tasks for as long as there is an incentive or threat looming ahead, which suggests they are partly motivated but not fully intrinsically motivated, focusing their attention on the reward or threat and not work. For those people who are actually motivated through extrinsic incentives, a regular increase in the incentive used may be the only way to keep their motivation, so finding a way to fully motivate people to want do things for their own personal gain and development intrinsically is the main goal, which in turn benefits the organization.

Examples of Students Essays

Example of case study Essay Example

Example of case study Essay – Part 2

Case study example

Overview summary of the case

-Pear is an electronics company

-Discarding their ideas

-Communication is poor

Critical assumptions

-There at least three members per team and there are several teams -Each members of the team have a basic understanding of common language -Members within team come from varied demographics

-Negative attitude toward younger people

Satellite problems:

– Group members are skeptical about feasibility of ideas

-Members of the company are talking over one another

-Members feel their ideas are unimportant

-Members are disgruntled and frustrated

Primary problem: The structure of Pear company research and development department is inefficient at creating new ideas and creating proper communication flow between coworkers – Example of case study Essay introduction. Pear does not have an adequate method of ensuring appropriate communication to make group decisions. Implementation

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Personnel: Younger members may feel discouraged and want to leave the company Members will continue to be frustrated

Members morale will decrease

Members will stop trying to be innovated

Stop showing up to meetings

Organization: Organization can potentially loose profits because of the lack of new ideas, higher costs, and leave org. Alternative solution: Theories found in textbook

-Brainstorming

-Nominal group (write down ideas, then read aloud)

-Delphi technique

-Devil’s advocate

Recommendation

-Why is this the best?

-Why is it better than the other alternatives?

-Does it solve all problems?

-How will it affect personnel and organization?

Implementation

Immediate:

Pay for training on how to assess/facilitate meetings

Ensure employees are aware of new group technique

Implement new technique in all meetings

Short:

Assess effectiveness of new technique

Conduct survey

Employee satisfaction

Long:

-Seek to provide additional decision making techniques in meetings -Virtual

-Reward employees for working well in team

-Assess whether innovation has improves

Examples of Students Essays

Wolter's Brewery Case Synopsis Essay Example

Wolter’s Brewery Case Synopsis Essay

Case Synopsis The case is based on how Wolter’s, a brewing company was able to survive and grow with a distinctive marketing strategy – Wolter’s Brewery Case Synopsis Essay introduction. The company does a really good job by selling their products to the niche market and maintaining good customer relationships with the local consumers. Because the growth in their local market was limited they were considering exporting to other countries as an option to increase their sales. The stakeholders of the company competently adopted a problem solving technique. Although they were doing really well in the competitive market, they had to face some legal and political challenges.

Overall, Wolters did a superior job by utilizing all the opportunities for better growth and improvement of the company. Problem Identification 1. The very important problem that Wolter had to face was reviving its brand after being separated from InBev. It had to rebuild the organisational structure from the scratch. This was one of the biggest challenge the company had to face. 2. Facing political, legal challenges was other problem for the company. The company was bound with a lot of restrictions on alcohol advertising. It also lost a lawsuit against the association of brewers in Munich.

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This might give the competitors a chance to strengthen their product. 3. Another important problem that the company had to keep in mind was financing the high cost of bottling and canning facility. 4. Since the domestic market it marketed had a limited growth, it is challenging to decide whether to go international or stay in the regional market. As a huge investment would be needed for the company to go international and export. (domestic less growth, international more) 5. Developing new marketing segments and managing economies of scale can be challenging for the company.

Analysis Wolters Brewery is a brewer of beer located in the small city of Braunchsweig, Germany. In the early 2000’s it became a subsidiary of InBev, which was a multinational brewing enterprise. InBev decided to cut down its costs and operate only in large-scale economies. Since, the company was small and was only known to the locals and had a limited growth potential it was meant to be shut. Wolter’s had a lot of presence in the community as they organised local events and sponsored sports and cultural events.

They were a means of employment to hundreds of people. This helped them gain a lot support from the local community. At the same time Wolters faced some challenges due to subsidy regulations and the lack of capital . To save the company four formers and current managers met up with the city and the local bank to create a plan of action. With that, Wolters GmbH (LLC) was formed. After the meeting was done, a negotiation was made. Inbev was forced to sell the industrial estate back to the city and to provide the company with a loan of 3 million euros.

In this way the entrepreneurs, politicians and bankers helped make Wolters an independent company. In 2006 the company felt the need to rebuild its organizational structure as it had no administration, marketing or distribution department. It now started to work on and strengthen its traditional links by regaining its old customers and starting on new ones. Due to the clever decisions Wolters GmbH made, it was able to repay the debt ahead of schedule, thus ensuring rights to the company name. Wolters first focused on strengthening local relationships and building brand awareness in the local region.

It allocated about more than half of its marketing budget towards sports sponsorships and cultural events. Very less money was spent on traditional media advertising. It also started doing contract brewing where it brewed beer for other brands. It looked at the possibility to export its beer to other countries and increase its sales and make more profit. At the end the case leaves us with many unanswered questions. Should Wolters continue to focus on the regional strategy it had or should it pursue a growth strategy and how?

Wolters means of future marketing and competing with other multinational brewers is unclear. It still has to decide how to finance money to fulfill the canning and packaging facilities and modernize the company and its organizational structure. Evaluation of alternatives •The company could improve its competitive position in the domestic market using the Porter’s five forces. By positioning itself as a low cost provider the company can protect itself from competitors, as lower costs would allow the company to earn returns even if its competitors are taking away profits.

Turning the negatives of legal restrictions into positive and utilizing that opportunity to create a good PR would help Wolters attract more customers. By giving a message about alcohol abuse in their ads they can depict itself as a socially responsible brand. This can help the create more loyal customers for the company. The company must first focus on it’s domestic market and export later. •To increase the size of potential markets Wolters need to pursue international expansion. As seen in the case large breweries were only interested in orders that were a minimun 10,000 hl.

So, Wolters needs to increase the volume of speciality beers to be exported in order to deal with large breweries. At the same time, they need to keep in mind the political and currency risks in exporting to other countries. Conclusion I believe, Wolters has established itself in the regional market pretty well. It should now create and focus on its international strategy. It should do proper research and partner with local firms to assist from their priceless knowledge of their own domestic markets. By doing this it can help improve their market share.

Concept Inventory The case is related to some of the topics that we covered in class. It talks about the marketing strategy that Wolters used to revive as an independent organisation and create brand awareness in the local community. The case also refers to the Porter’s five forces model. For the company to grow and expand internationally, it had to keep in mind the threat of new entrants, its competitors, its buyers and the threat of new substitutes. Works Cited Wolters Brewery (B): Traditions For The Future, Professor Klaus Meyer, March 2012.