Sai.m Essay Example | Topics and Well Written Essays - 3500 words

Sai.m - Essay Example h crises; moreover, the fact that the effects of recession on markets that are based on Islamic banking has been limited proves the effectiveness of Islamic banking scheme towards its western rival. Current study focuses on the examination of the solutions that Islamic banking can offer regarding the limitation of losses caused because of the credit crunch. In order to understand the potential solutions of Islamic banking against the credit crunch it would be necessary to refer primarily to the characteristics and the framework of Islamic banking as an alternative scheme of banking compared to the traditional (western) banking system. In accordance with Iqbal et al. (1987, p.29) ‘the central requirement of an Islamic financial system is the replacement of the rate of interest with the rate of return on real activities as a mechanism for allocating financial resources’. On the other hand, Saeed (1996) notes that ‘the investment activities of the Islamic bank would be based on the two legal concepts of Mudaraba and Musharaka, alternatively known as profit and loss sharing (PLS)’ (Saeed, 1996, p.51); in other words, the existing principles and mechanisms of Islamic banking can be used in order to control the pressure of the global market – which is based on the western banking system; in this case, an appr opriate customization of the rules of Islamic banking system would be required in order to suit to the needs and the potentials of customers worldwide (Scharf, 1983, p.18).On the other hand, Islamic banking system has an important weakness: the lack of an appropriate regulatory framework; this means that in case of failure the allocation of risk among the persons that participated in a specific investment initiative may not easy; furthermore, the recovery of damages would also face difficulties (Ledgerwood, 1999, p.56). The above problem is examined in the study of Venardos (2005); in the specific study it is noted that ‘an appropriate regulatory

Entrepreneurship the purist most challenging application of the art and science of business. Essay Example for Free

Entrepreneurship the purist most challenging application of the art and science of business. Essay Corporate America repeatedly cites the ‘lack of entrepreneurial skills’ as the single biggest deficiency in MBAs – something that we fix in this course. Entrepreneurial skills and knowledge are mandatory for creating your own venture (for-profit or non-profit) , creating a new business unit within an existing enterprise, creating a new product or service offering and  launching it, or for just being a much more inventive and creative desk jockey in a lumbering, bureaucratic human cesspit of non-productive activity. The conception and start-up stage of a new organization is a critical stage of the company’s life-cycle. It is the time for the venture to pull itself together and get up and running in time for ‘opening day’. It is an extremely busy time in the venture’s life, requiring a thorough understanding, application, and execution of your MBA concepts skills. In this capstone course we examine the idea of entrepreneurship, its symbiotic existence with Corporate America, the origin of new (company) concepts, setting up the new legal entity, raising funding from outside investors or donors, developing and writing a comprehensive business plan, and pitching your concept to a panel of seasoned investors or potential donors. Some key topics include: (1) demographics for small businesses, (2) conceiving and understanding a sound ‘business model’, (3) financial forecasting and modeling for new start-ups, (4) cash flow management in start-ups, (5) term sheets, (6) the venture capital business, (7) multiple funding rounds, (8) start-up company valuations, (9) liquidation preferences, (10) leveraging strategic alliances, (11) the role of the Board of Directors, (12) restricted stock, stock options, and 83(b) elections, and (13) creating and leveragor) presentation that will be delivered to a panel of professional investor/donors at the conclusion of the course. CAP5802 will be delivered as a combination of lecture and discussion. The instructor demands active participation from the class members. COURSE OUTLINE Important note: The detailed descriptions of all assignments along with all exercises are found on the (new) Moodle course site. Session 1: Monday, 26 August 2013 Introduction and Orientation How the course will be conducted Classification of businesses Small business demographics What is entrepreneurship and why should you be highly interested in this subject? Major assignments and due dates †¢ Concept Description Abstract – Due on 23 September 2013 †¢ Business Plan Outline – Due on 7 October 2013 †¢ Interview with Entrepreneur Write-Up – Due on 14 October 2013 †¢ Prospectus – Due on WEDNESDAY by NOON, 4 December 2013 †¢ Final Business Plan – Due on MONDAY, 9 December (in class) 2013 †¢ Live PowerPoint Presentation – 9 December 2013 [No class on Monday, 2 September – Labor Day] Session 2: Monday, 9 September 2013 The Entrepreneurial Mind and Process Entrepreneurial Resilience during Challenging Times How Entrepreneurs Craft Strategies That Work Apple’s Core Case Study Iggy’s Bread of the World Case Study Session 3: Monday, 16 September 2013 Recognizing and Screening the Opportunity Background Note: Note on Business Analysis for the Entrepreneur ZOOTS: The Cleaner Cleaner Case Study Session 4: Monday, 23 September 2013 The Business Plan HBR Article: How to Write a Great Business Plan Business Plan for Room for Dessert Case Study Your Concept Description – Abstract Due Session 5: Monday, 30 September 2013 The Founder and the Team – HR Matters NanoGene Technologies, Inc. Case Study Session 6: Monday, 7 October 2013 Legal Matters the Start-Up Ecosystem Background Note: Legal Matters and Entrepreneurship †¢ Corporate law firms †¢ Intellectual property (IP) law firms The Start-Up Ecosystem †¢ Certified public accountants (CPAs) †¢ The Board of Directors †¢ The Advisory Board †¢ Key business partners Smartix(A): Dancing with Elephants Case Study Smartix(B): The Last Dance Smartix(C): Rethinking the Negotiations Smartix(D): Reflections from the Other Side of the Table Business Plan Outline Due Tonight Session 7: Monday, 14 October 2013 Financing the Venture PunchTab Inc. Case Study Interview with Entrepreneur – Write-Ups Due Fall Break is 15 – 18 October 2013. Session 8: Monday, 21 October 2013 Capitalization of the Start-Up, Part 1 Session 9: Monday, 28 October 2013 Capitalization of the Start-Up, Part 2 Session 10: Monday, 4 November 2013 Capitalization of the Start-Up, Part 3 Session 11: Monday, 11 November 2013 Growing the Business What Entrepreneurs Get Wrong Facebook Case Study Gordon Biersch Case Study Gordon Biersch – New Challenges and Opportunities Case Study Session 12: Monday, 18 November 2013 Investment Decision Making Walnut Venture Associates (A): RBS Group Investment Memorandum Walnut Venture Associates (B): RBS Due Diligence – Customers Walnut Venture Associates (C): RBS Due Diligence – Market Size Walnut Venture Associates (D): RBS Deal Terms Thanksgiving Week break is 25 – 29 November 2013. No class on 25 November. Session 13: Monday, 2 December 2013 Documentary (movie): â€Å"Start-Up.com† Session 14: Monday, 9 December 2013 Final Presentations COMMENTS ON CAP5802 – ENTREPRENEURSHIP IMPORTANT: YOUR HOMEWORK ASSIGNMENTS ARE DUE IN HARD COPY IN CLASS ON THE SPECIFIED DUE DATE. LATE ASSIGNMENTS WILL BE MARKED DOWN—SEE GRADING POLICY BELOW. Your workload in this course will be ‘above average.’ That we meet only one time per week for three hours implies that you will have a week’s worth of homework to do in between class meetings – unlike the homework load that you would receive in a course that meets multiple times per week. Specifically, †¢ I expect you to attend all of our classes. †¢ I expect you to arrive on time and remain in class until we are finished with the session. †¢ I expect you to arrive with your material fully prepared – this requirement is critical. †¢ I expect you to participate actively and effectively in class. †¢ I expect you to demand of yourself and your fellow class members complete fidelity to high personal ethical standards. †¢ I expect you to keep your cellular telephone out of our classroom – or with you, but powered off. †¢ I do not expect you to ever leave the classroom to accept or return a telephone call. †¢ I expect all team work and responsibilities to be evenly distributed among the team members. †¢ I expect all individual-specified exercises to be completed by you independently with no assistance received from anyone else. CAP5802 GRADES There is no final exam in CAP5802. Instead, we have the final presentations from each start-up concept. Four factors play into your grade computation in CAP5802: (1) your homework scores – watch those tricky computational problems, (2) your write-up of your interview with an entrepreneur, (3) your completed business plan – which should be sufficiently tantalizing to cause the general partners of Kleiner Perkins Caulfield (who successfully funded Genentech, Amazon, and Google, among others) to salivate, and (4) a stunning live presentation during our final class meeting – which should convince even the most risk averse grandmother to allocate a chunk of her retirement stash to fund your promising venture. (1) CLASS PARTICIPATION We have 23 articles/case studies that we use to supply some of the vital content to this course. I expect you to give every one of them a thorough read and analysis. I encourage you to discuss them with your team members. I will call on you in class – whether or not you raise your hand – and ask you to answer questions or to explain concepts/situations in the assigned readings. I will score your response on a three-point scale as follows: 3: brilliant 2: adequate 1: needs improvement (2) HOMEWORK ASSIGNMENTS Your home work assignments are due in class in hard copy on the specified due date. I will penalize you for late homework assignments. That is how the real business world works. If you are going to be out of town, always complete and turn in your assignment EARLY. When you are LATE with your homework assignments, you lose points in the computation of your final grade. No appeals allowed. The point value for each homework question is noted in (*) next to the question. You will find all of the homework assignments on the course site. (3) INTERVIEW WITH ENTREPRENEUR Each team will find an authentic entrepreneur – someone who has started their own business/organization and currently is running the business or non-profit organization. The business/organization can be anything ranging from an ice cream truck to a non-profit social service organization that provides outplacement services to displaced investment bankers. I will provide you with the list of questions for the interview. You only need to find the willing entrepreneur (they generally love to talk about their businesses) and complete the interview – then write it up. (4) COMPLETED BUSINESS PLAN FOR YOUR VENTURE Each team will compose a comprehensive, professional-quality business plan for their business concept. There are two important milestones/due dates for the business plan assignment: (1) the brief plan outline due date, (2) the completed plan due date – the last class meeting. (5) CORPORATE OVERVIEW PRESENTATION OF YOUR VENTURE Your team will present your ‘corporate overview/launch plan’ during our final class meeting. You will be graded on the originality, content, and delivery of your concept. We expect to have a judging panel present – comprising demanding, unreasonable investor-types – to critique your concepts CAP5802 GRADE COMPUTATION There are five sources of points that are used in your final course grade computation: (1) Class participation points – as noted above. I will tally up your points, and normalize your grand total over 50 possible points. (2) Homework Assignment points – as noted with each HW assignment question. I will add up your total homework points, divide this total by the total possible homework points, and arrive at a final percentage score for your homework. (3) 50 points for your entrepreneur interview write-up (4) 100 possible points for your business plan, distributed as follows: Quality of idea = 10 pts Compelling market opportunity = 10 pts Organization of plan = 10 pts Clarity of plan = 10 pts Financial analysis = 10 pts Marketing plan = 10 pts Sales and distribution plan = 10 pts Competitive analysis = 10 pts Sales/revenue forecast = 10 pts Surviving CAP5802 = 10 pts (5) 100 possible points for you final presentation, distributed as follows: Originality and cleverness of the presentation = 20 pts Running within the allotted time = 20 pts Richness of content = 20 pts Presentation delivery = 40 pts Note that your presentation scores will be a compilation of our guest judges’ scoring. History indicates that the judges are rather severe scorers. I will assign final course grades based on your final total point tally: Total possible participation score (%): 50 points Total possible homework (%): 100 points Total possible interview with entrepreneur: 50 points Total possible written business plan: 100 points Total possible live presentation: 100 points A splendid time is guaranteed for all.

The Epic Poem - Beowulf Essay -- Epic of Beowulf Essay

     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Beowulf is an epic poem. Why? Because (1) it is a long narrative work that relates the adventures of a great hero and (2) it reflects the values of the Anglo-Saxon society in which it was written prior to 1000AD. This Old English poem in unrhymed, four-beat alliterative style narrates, through the course of about 3200 verses, the bold killing of two monsters, Grendel and his Mother, and a fire-dragon, as well as numerous other brave deeds in lesser detail, by Beowulf, â€Å"the strongest of men alive in that day, mighty and noble,† â€Å"the good Geat.†Ã‚   Roberta Frank in â€Å"The Beowulf Poet’s Sense of History† sees the hero as â€Å"the synthesis of religious and heroic idealism† (Frank 59). Professor Tolkien in Beowulf: The Monsters and the Critics states: â€Å"But in the centre we have an heroic figure of enlarged proportions† (Tolkien 38). â€Å"That crafty sailor† led his warriors â€Å"on the waves† to Hrothgar’s Danish kingdom where the first two adventures took place (â€Å"Herot, the bright ring-hall, is purged.†), earning the hero the greatest respect of the king (â€Å"You have by your deeds, achieved fame forever.†) and queen and people. More than â€Å"fifty winters† later the third great feat occurred in the Geat homeland where Beowulf was reigning as king. This adventure of armed combat against a fire dragon resulted not only in the dragon’s death but also in that of the Scandinavian hero. Numerous other adventures of the hero are presented in lesser detail: â€Å"With my sword I slew nine sea monsters,†Ã‚   â€Å"he had survived many battles,† â€Å"he avenged Heardred’s death,† â€Å"He deprived King Onela of life,† â€Å"I repaid Hygelac †¦ with my bright sword,† â€Å"I was the killer of Daghrefin,† etc. The poem rightfully claims that Beowulf â€Å"performed the most famous de... ...the ten who deserted their chief, said, â€Å"At the ale-bench he often gave you †¦ helmets and armor.†    From the above it’s obvious that abundant evidence amply demonstrates that Beowulf truly reflects the first millenial Anglo-Saxon culture in the poem’s lengthy narration of the adventures of a great hero.    BIBLIOGRAPHY Clark, George. Beowulf. Boston: Twayne Publishers, 1990. Cramp, Rosemary. â€Å"Beowulf   and Archaeology.† In TheBeowulf Poet, edited byDonald K. fry. Englewood Cliffs, NJ: Prentice-Hall, Inc., 1968. Frank, Roberta. â€Å"The Beowulf Poet’s Sense of History.† In Beowulf – Modern Critical Interpretations, edited by Harold Bloom. New York: Chelsea House Publishers, 1987. Tolkien, J.R.R.. â€Å"Beowulf :The Monsters and the Critics.† In TheBeowulf Poet, edited byDonald K. fry. Englewood Cliffs, NJ: Prentice-Hall, Inc., 1968.

Aflac

Table of Contents I. Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 II. Company History†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦3-4 III. Company Financials†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5 IV. Internal Factors & External Industry Analysis. 6-11 V. House of Quality & DMAIC†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 11-19 VI. Tree Diagram & PDPC†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 19-22 VII. Flowchart & Check Sheet†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦22-26 VIII. Consultants Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 26 IX. Works Cited†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 27 ? I. Executive Summary AFLAC, incorporated offers all different types of insurance including life, health, and accident insurance as being their top sellers. The insurance industry can often be a competitive one. There are many insurance companies, in the past few years, that have been greatly effected by the current recession in the United States. Some insurance companies needed government intervention to help them through this. AFLAC, just like other big companies out there, have gone through many problems. Building the House of Quality and using Deming’s five points will help this company succeed and train their employees better. Using flow charts, check sheets, and tree diagrams will show the employees the right way to do their work and can continuously improve at their work. Consultants will be overall most satisfied with these types of practices. II. Company History Aflac, also known as American Family Life Assurance Company, was founded in Columbus, Georgia in the year 1955. It was discovered by brothers John, Paul, and William Amos to sell life, health, and accident insurance (â€Å"Aflac Incorporated History). † Competition was very fierce back then and the little company did poorly. In the 1940s and 1950s, there were many cases of polio scares and had spawned insurance coverage written specifically for this disease. It was then that Aflac decided to sell cancer insurance (â€Å"Aflac Incorporated History). † In the year 1958, they introduced the world’s first cancer insurance policy. This wound up being a big hit for this company and had written over a million dollars in premiums and had expanded over state lines. This company grew very quickly. It grew very quickly in the decade of the 1960s. They developed a selling approach that was much clustered. This approach worked as employees were willing to make payroll deduction for premiums (â€Å"Aflac Incorporated History). † By the year 1971, this company was booming in over 42 states. In the 1970s, John Amos then decided to expand his company outside the United States. This started by Amos visiting the World Fair in Osaka and he then decided to market this idea to the Japanese (â€Å"Aflac Incorporated History). † The Japanese healthcare plan left them exposed to considerable expense from cancer treatments. After four years, the company finally got approved to sell health insurance overseas to the Japanese (â€Å"Aflac Incorporated History). † It was basically approved because after research, it would have not threatened existing markets and the Amos’s found notable backers in the insurance and medical industries. Aflac became one of the first insurance companies to enter the Japanese market, and it had an eight year monopoly with the Japanese (â€Å"Aflac Incorporated History). † Aflac has sought to supplement its cancer insurance by introducing new products and improving old ones to encourage the policyholders to add on or trade up (â€Å"Aflac Incorporated History). † The company boosted its name recognition in the United States from two percent to fifty six percent primarily through advertising, including the slots throughout the 1998 Winter Olympic Games and NASCAR races (â€Å"Aflac Incorporated History). Accident and disability premiums surpassed cancer premiums in the United States for the first time in the company’s history in the year 2000. The popular Aflac duck made its first appearance on television in the year 2001 for a commercial for accident insurance (â€Å"Aflac Incorporated History). † III. Company Financials With every company, the financial po rtion of the company will vary from year to year. AFLAC, which is one of the most trusted insurance companies and has the most popular commercials, has been doing very well over the years as an insurance company. This company has annual sales presently at over eighteen million dollars (â€Å"Aflac Financial Reports†). Ten million dollars of the eighteen million dollars in revenues were solely from the sales of the employees that worked for this company. This company is a publicly traded company located on the New York Stock Exchange (NYSE). Over the years, this stock price has gone up and up every single year. It is now priced at fifty five dollars per share, which shows how successful this company has been over the years. Below, is a chart that shows Aflac’s stock price from June of 2009 to April of 2010 (Business Source Complete). It shows that in June of 2009, it was price at thirty three dollars per share. It had a significant setback right before September where it dropped under thirty dollars per share (Aflac’s Financial Reports. )† It has since resurged in the past ten months to be up to fifty five dollars per share. It shows that Aflac has not been affected by the recession, which is ongoing in the United States. IV. Internal Factors & External Industry Analysis The insurance industry is a very competitive industry. AFLAC’s main concern is the customer service problems and that the agents are not trained enough to help out the various customers the company deals with. AFLAC specializes in accident and health insurance mostly, with the option of life insurance as well (Business Wire). The industry as a whole is very successful. The most popular aspect that most people will recognize about this company is their memorable commercials featuring the AFLAC duck (Price 1). The duck’s familiar quack and voiceover by Gilbert Godfrey immediately shows that it provides worker’s compensation to its employees (Price 1). There are definitely way more strengths than weaknesses in this particular company. The strengths of this advertisement are its catchiness and cleverness of the advertisements design rather than its theme. The main theme of the advertisement should have gone in a more interesting way of the necessity of the worker’s compensation as part of one’s health insurance package (Price 1). However, the nature of the duck in AFLAC’s commercials makes the surface theme of the duck recognizable and that’s why AFLAC’s commercials with the duck are so popular and has been a big reason why AFLAC has been a solid company over the years. Moreover, in the strengths of this company, it also has to do with the sole person that the customer is dealing with (Wiki wealth). The main strength of this company is the agents that are hired to work with the various customers. If a customer has a great representative, it has come apparent that they would recommend the company to all their friends and family. Personally, having a good representative will keep the customer more calm and know that their insurance claims will be paid in a more efficient time period. In addition, having an agent that can answer all of the customer’s questions and concerns is a big thing as well. If the agent is intelligent enough to answer all of the inquiries the customer may have, the customer will overall have a great experience and would feel that dealing with a company like this would be overall a great experience for that individual. Many believe that the insurance industry can be a profitable one. The industry in itself can be a very successful one, but also can be risky at times. As many might already know, insurance involves pooling different funds from many uninsured entities in order to pay for relatively uncommon, but severely devastating losses which can occur to these entities (â€Å"Industry Handbook). In the United States, the Gramm-Leach-Bliley Act of 1999 was put into legislation. It stated that banks, brokerages, and insurance firms can come together to offer the customers a range of services (â€Å"Industry Handbook. )† In the insurance industry, this had led to an outrage of â€Å"Merger and Acquisition† activity. In addition, a majority o f liability insurance companies underwritten in the United States has been through big firms, which has been scooping up all different insurance industries (â€Å"Industry Handbook†). Insurance can also have some positive and negative effects on society and the economy as well. These are effects that are important and have to be monitored closely (â€Å"Insurance†). One negative about it is that it can increase fraudulent acts by individuals (â€Å"Insurance†). People will try to use insurance companies to try to get money out of them even if nothing extraordinary happens when they need money. On the other hand, it can help many families and individuals prepare for catastrophes and the effects of this on households and societies (â€Å"Insurance†). As one can see, the risk of insurance companies is that there can be access to fraud by individuals trying to exploit these companies for money. On the other end, this is a great way just in case a catastrophe happens in a family such as a deadly car accident, untimely death, or anything of that circumstance. Other factors need to be considered as well when talking about the internal and external aspects of this industry. Demographics is an important factor that needs to be considered. It can affect the sales for insurance, particularly the life insurance aspect (â€Å"Industry Handbook†). As people become older, they tend to rely more on life insurance products for their retirement. In more recent years, the insurance industry has made great headway in offering investments and savings type insurance products for their benefit (â€Å"Industry Handbook†). The Global Insurance Industry is also an important factor when it comes to insurance companies. The industry has to deal with the many fluctuations of the interest rates established. Global insurance premiums grew by 3. 4% to reach 4. 3 trillion dollars (â€Å"Reuters†). Insurance companies do invest in much of the collected premiums, so the income generated through these premiums is highly dependent on these interest rates (â€Å"Reuters†). For the first time in the past three decades, premium income has declined in inflation adjusted terms, with non life premiums falling by 0. 8% and life premiums falling near 3. 5% (â€Å"Reuters†). It has become apparent that this industry (insurance) is exposed to the global economic turndown on the assets side by the decline in return on investments and on the liabilities side by a rise in insurance claims (â€Å"Insurance†). It shows that AIG, a similar insurance company just likes AFLAC, was bailed out in September of 2008 and has had an enormous effect on AFLAC’s business and the insurance industry as a whole. The recession and the financial crisis that has gone on throughout the United States the past few years have shown that the insurance industry is sufficiently capitalized (â€Å"Insurance†). The vast majority of the insurance companies have had enough capital to survive, with only a few insurance companies asking the government for help. AFLAC was one of the companies that did not to have the government intervene into their company. The Five Forces Model, which originated from Michael E. Porter’s book, â€Å"Competitive Strategy: Techniques for Analyzing Industries and Competitors,† has become a frequently used tool for analyzing a company industry structure and corporate strategy (â€Å"Porter’s Five Forces Analysis†). These five aspects include Threat of New Entrants, Power of Suppliers, Power of Buyers, Availability of Substitutes, and Competitive Rivalry. First, the threat of new entrants is the first aspect in Porter’s Five Forces Model. In explaining this, it most nearly means that the easier it is for new companies to enter the industry, the more cutthroat the competition will be (â€Å"Porter’s Five Forces Analysis†). Barriers to entry can limit the threat of new entrants. When it comes to the insurance industry, it is not like any type of person or entrepreneur cannot come along and start an insurance company. The threat of new entrants lies within the insurance industry itself. AFLAC has been fearful in the past of being squeezed out by the big players (â€Å"Industry Handbook†). Another threat for AFLAC may be the other financial services companies entering the market (â€Å"Industry Handbook†). This might cause a direct threat to AFLAC and often hurt them in the long run. If a bank or investment company offered insurance products, it would directly hurt the success of AFLAC. The second aspect of this model is the Power of Suppliers. This most nearly means how much pressure suppliers can place on a business (â€Å"Porters Five Forces Analysis†). In the insurance industry, there can be an immense amount of pressure. The suppliers of capital might not pose a big threat initially, but the threat of suppliers luring away human capital does pose a big threat (â€Å"Industry Handbook†). In AFLAC’s case, they do not want suppliers luring away their human capital because they would lose a lot of business. Also, if this had happened, government intervention might have to happen if they were not doing well financially. For example, if a talented insurance agent is working for a smaller insurance company, there is a legitimate chance that they will be enticed away from the smaller company moving to a larger one. In AFLAC’s case, there have been a few individuals that have gone from smaller insurance companies to the more, popular large ones to move into a particular market that they are comfortable in. The power of suppliers has a huge effect on AFLAC and needs to be monitored closely. The third aspect of this model is the Power of Buyers. This is just the opposite of the Power of Suppliers. In this case, this most nearly means how much pressure customers place on a business (â€Å"Porter’s Five Forces Analysis†). The customer can hold substantial power when it comes to insurance companies such as AFLAC. A regular individual does not pose a threat to AFLAC when it comes to the power of customers. But, what do pose a threat to AFLAC, is the large corporate clients that have more bargaining power than AFLAC (â€Å"Industry Handbook†). Just like airlines and pharmaceutical companies pay lots of money in premiums every year and insurance companies try hard to get high corporate clients (â€Å"Industry Handbook†). AFLAC tries this approach so they can get more for their dollar and be successful in different ways of the insurance industry. The fourth aspect of this model is the availability of substitutes. If someone who uses AFLAC as an insurance possibility and the cost of switching is low, this could cause a potential serious threat to AFLAC (â€Å"Industry Handbook†). This aspect is a pretty straightforward one as there are various substitutes in the insurance industry. Most large insurance companies, such as AFLAC being one of them, offer similar services. Whether it be automobile, life, home, and health insurance, chances are that the competitors can offer similar services. Companies focusing on niche areas usually have a competitive advantage, but this advantage depends on the size and whether there are barriers of entry available (â€Å"Industry Handbook†). AFLAC is one of these companies that do focus on the niche areas of the industry and have the competitive advantage. It seems that they are going to be fine when it comes to other companies offering substitutes. The fifth and final aspect of this model is the competitive rivalry. This is the most important part of the model. This describes the intensity of the various companies in the insurance industry (â€Å"Porter’s Five Forces Analysis†). It is becoming a very highly competitive industry. The difference between one insurance company and another is not all that different (â€Å"Industry Handbook†). As a result, it seems that insurance has become a commodity, which means an area in which the insurance company with a low cost structure, greater efficiency, and good customer service will beat out the competitors (â€Å"Industry Handbook†). AFLAC has the historical characteristics of having a low cost structure and good efficiency, but the customer service is still â€Å"Up in the air. † In the long run, I believe we may see more consolidation in the insurance industry. Other companies may prefer to take over or merge with smaller companies, but AFLAC’s approach is to advertise and market with the AFLAC duck and so far it has been a success over the years these commercials have aired. V. Product or Service for Improvement (House of Quality, DMAIC) There is not one company out there in the world that cannot improve. Even if you are considered a â€Å"perfect company,† there will always be room for some type of improvement on a product or service. In AFLAC’s case, they have been a successful company, but at the same time, they have many concerns within their organization. Within AFLAC, there are multiple changes that could be made to their product or service. The most important thing to fix in their system is that it seems that the company does not pay the customers claims in an efficient amount of time. This can mean a certain wide of things, but more importantly needs to be fixed before this company loses more and more customers. Paying the claims on certain individuals and families have been delayed for as long as two years, which seems to be an unreasonable amount of time. Moreover in this, it seems the customer service is lackluster and needs to be improved as well. Building an improvement plan so this company can get better reviews and even improve financially is important. I believe the first aspect of this is to build what is called a House of Quality. The House of Quality is â€Å"A set of matrices used to relate the voice of the customer to technical features and production planning and control requirements (Evans, 294). The House of Quality relates the attributes of the customer to the technical features. This requires six basic steps needed to be successful. When it comes to AFLAC, building a House of Quality will be reliable in their organization. The first step of this model is to identify the customer attributes. The manager must apply Quality Functional Deployment, which is used to ensure custo mer requirements throughout the product or improvement design process (Evans, 293). It is vastly important to use the notion of â€Å"The voice of the Customer† so it is not misinterpreted by any type of designers or engineers. For AFLAC,I have developed three customer attributes that AFLAC deals with. The first one is the basic attribute, which also can be called the â€Å"Must haves†(â€Å"AFLAC Attributes†). These are expected by the various customers. The second attribute is the â€Å"Linear Satisfiers† (â€Å"AFLAC Attributes†). If this company uses this attribute more effectively, this will increase the customer satisfaction, which at some points, is lacking. The third customer attribute is the â€Å"Energizers† (â€Å"AFLAC Attributes†). This means that it is not expected or required, but creates high customer satisfaction when present and can make the difference in choices for the consumer. For AFLAC, the different type of customers might include single individuals, families, working unions, and government officials (Evans, 295). Therefore, there are many classes that need to be considered. The second step of this model is to identify the technical features that are necessary to meet the requirements of customers (Evans, 295). These technical features expressed the language of the designer and engineer. These are the people that form the basis for design and service activities in an organization. In AFLAC, these must be measurable to track the positive or negative results and the output will be compared to the goals of AFLAC. The roof of the House of Quality (Evans 297) shows the interrelationships between any pair of technical features. These technical features can include the premiums, fees, allocated income, less claims, and less operating expenses. They are classified into either a very strong relationship, strong relationship, and a weak relationship (Evans, 296). The third step of this model is to relate the customer attributes to the technical features. The customer attributes is applied to using Quality Functional Deployment. The customer attributes is to have a better â€Å"experience† than they have had in the past with AFLAC. As set up on the House of Quality chart, the customer attributes are listed down the left hand column with the technical features listed across the top (Evans, 296). Using a relationship matrix is the most effective way to show this. AFLAC’s customer attributes must show whether the final technical features adequately address the customer attributes. These technical features can affect several of the customer attributes. â€Å"The lack of a strong relationship between a customer attribute and any of the technical feature suggests that the attributes are not being addressed and that the final service will have difficulty meeting customer needs (Evans, 296). If the technical feature does not match customer attribute, then the designer might have missed something important. † For instance, in AFLAC the â€Å"Voice of the Customer,† all input is appreciated with expert experience, customer surveys or overviews, or any type of controlled experiments (Evans 296). AFLAC should implement customer surveys and overviews to see what the customers have to say about their experience. Within many companies, especially restaurant establishments, they give out survey cards and rate the service of the waiter and restaurant staff. AFLAC should implement this and read over these surveys so at each AFLAC branch, they can see what they are excelling in and what they are struggling in. This would be beneficial to the company as a whole and to the customers as well. The next step of the House of Quality is evaluating the competitive products or services. This evaluation helps highlight the strengths and weaknesses of the problem. In AFLAC’s instance, the strengths of this company is that they have a strong financial strength within the company, the coverage it provides, the portability, the cost, and the direct payment (Hartman 1). The weaknesses include delays on paying customer’s claims, poor customer service, and more concerned about processes than progresses (Hartman 1). This step enables the designers to seek the opportunities for improvement. This links Quality Functional Deployment to a company’s strategic vision and allows priorities to be set in the design process (Evans, 297). † Some customer attributes become key selling points and help establish promotional strategies. The next step is the evaluation of the technical features of competitive aspects and development of targets. This step is usually accomplished through internal testing and translated into measurable results (Evans, 297). With AFLA C, these evaluations are compared with the competitive evaluation of customer attributes to find inconsistencies. The inconsistencies with AFLAC is their customer service. Targets for each technical feature are set on the basis of customer importance ratings and the existing products strengths and weaknesses (Evans, 298). The final step in building the House of Quality is selecting the technical features to be deployed in the remainder of the process. This means â€Å"identifying the characteristics that have strong relationships to customer needs, have poor competitive performance, or are strong selling points (Evans, 297). † The cost and direct payments with AFLAC are the proper actions and controls to maintain the voice of the customer. Also, on the negative side, the poor customer service and the delay of paying customer claims are critical as well and do need the attention. The House of Quality shows the six steps and how they are to be evaluated in sequential order. They will either be a very strong relationship, strong relationship, or weak relationship. We have to focus to make sure AFLAC improves its processes. It is important AFLAC improves as a company as a whole or could face the financial crisis as AIG did in September of 2008. They need to improve on what they have been criticized for in the past. Using a six sigma approach would be beneficial to their improvement plan. This is an approach to measuring product and service quality (Evans, 93). â€Å"The late Bill Smith, a reliability engineer at Motorola, is credited with originating the concept during the mid 1980s and selling it to Motorola’s CEO, Robert Galvin (Evans, 94). † He wanted to improve product and service quality in his organization and wanted to achieve six sigma capability by 1992. The key concepts of this was think, focus, emphasize, ensure, provide, Create highly qualified improvement experts, and set stretch objectives for improvement (Evans, 94). Today, Six sigma is used as a quality framework and in service organizations. As part of the improvement plan, AFLAC needs to implement a six sigma approach called DMAIC methodology. â€Å"This is a standard problem solving approach used in Six Sigma (Evans, 264). The DMAIC stands for define, measure, analyze, improve, and control. AFLAC can use this methodology to help solve their problem of not dealing with the insurance claims in an efficient amount of time and the customer service that goes along with it. It is explained that the six sigma project selected is dealing with the insurance claims in a sufficient amount of time without any delays. Therefore, the first step is to define the process that needs to be solved or needs â€Å"help. † The problem must be described in operational terms. As an example for AFLAC, this company has history of poor customer service and not paying the claims in time. Therefore, this six sigma project is to improve customer service reliability. Along with this problem, shows that the various insurance agents that are employed with AFLAC seem to not be motivated enough to satisfy the customer. In most organizations including this one, the main job is to satisfy the customer and make sure he or she got the experience with the company and is walking away happy with the customer service. This drills down to a more specific process which is called project scoping (Evans, 264). The customers must be identified that have the most impact on this negative performance, errors or the customer complaints. This phase also needs to address project management issues. In a more timely effort, these AFLAC agents may need some motivation whether it be more of an incentive or extensive training practices to make sure every customer walks out happy. The next phase is the measuring phase. This phase main focus is on how to measure the internal practices of the problems (Evans, 265). It does require an understanding of relationships between process performance and the value of the customer. In AFLAC, every customer is important. Once this is understood, collecting good data, observation, and careful listening should be implemented (Evans, 265). With AFLAC, the high managers and CEO should be doing this type of aspect of this cycle. They should be doing the observation part of every AFLAC branch. Hiring a team of auditors would most likely be the smartest idea. The careful listening part should be by the various AFLAC agents. The auditors and CEO should be giving the individual feedback and the agents should listen on how they can improve their working practices. The third phase is the analyze phase. A huge flaw that happens in problem solving teams and approaches is a lack of emphasis on the analysis portion (Evans, 266). A lot of the time, companies just want to jump into a solution and miss the step of understanding how serious the problem is and identifying where it is coming from. This phase focuses on why defects and errors occur in the organization. The AFLAC auditors need to conduct experiments to be one hundred percent sure that the scope of the problem is accurate. These experiments generally consist of formulating some type of hypothesis and then collecting data and analyzing it (Evans, 266). AFLAC needs to implement a statistical thinking tool. This tool is a philosophy of learning and action based on three principles. These principles include all work occurring in a system of interconnected processes, variation exists in all processes, and understanding and reducing variations are keys to success (Evans, 323). Analyzing statistical thinking in AFLAC would be an immense of help regarding not paying the claims in a timely manner. Variation must exist in this process and AFLAC does not have variation in this type of process. This is why statistics is an important part of the Six Sigma training. Also, what also needs to be analyzed in AFLAC is to see if their also is a computer problem regarding the claims not going through their system. AFLAC pays all their claims online and doing a computer simulation of all computers in the offices would scope out if there is a possible problem with the computer. Once the cause is determined, the analyst, auditors, and teams needs to generate ideas for removing or resolving the problem and improve the performance measures (Evans, 266). One of the difficulties in this section of the DMAIC phase is the natural instinct to prejudge ideas before thoroughly evaluating them in full detail. â€Å"Effective problem solvers must learn to defer judgment and develop the ability to generate a large number of ideas at this stage of the process, whether they are practical ideas or not (Evans, 266). AFLAC needs to improve their customer service and paying their claims in a timely fashion. One idea that needs to be implemented is to have an online website to file the claims to AFLAC. This would be a big convenience to all AFLAC’s clients. On the website, it should also have a spot where you can track the status of your claim. This would save AFLAC lots of money and it would cause less hassle on the customer service line of all the customers asking if their claim has been paid or not. Switching it to online would be more efficient, save money and also would be easier to keep track of every claim. It is way more efficient being on the computer and being well organized than searching through a person’s file looking for it. Implementing the websites to file claims will make the turnover be lower of the amount of complaints regarding the customer service, but there still needs to be improvements. As for the poor customer service, their needs to be extensive training for the many insurance agents that are employed with AFLAC. It has become apparent that these agents were not trained fully on the job when they were originally hired. Implementing a plan where training must exist upon hiring an agent and it should be done every two years to ensure quality in these individuals. The final phase of DMAIC is the control phase. This focuses on how to maintain the improvements AFLAC has implemented. This means putting tools in place to ensure the key variables remain within the maximum acceptable ranges under the modified process (Evans, 266-267). Controlling these plans are vastly important. AFLAC should hire an individual outside of the organization to solely work and monitor the website where claims are filed and to see the status of the claims that are filed. The company will be paying the individual, but in the end, it will save them money and turnover will have gone down significantly. The individual will control these websites and make sure there are no downturns or technical difficulties in the operation of this website. As for the training process improvement, the individual will be trained by top management on an individual basis once every two years. This might seem to be a lot of training by retraining them every two years. Technology changes from year to year and different programs will most likely be established in the near future and it is very important that the agents learn the new development in technology to help them do their jobs on the computer. Training the individual might seem like a hassle to the co-worker, but in the end they will become a more positive individual because they will know that they are doing their job in the most efficient and successful way possible. VI. Identify Management Planning Tools (Tree Diagram, Process Decision Program Chart) Planning is one of the basic functions of every manager out there. The complexity of the business environment today means that planning is not always the easiest thing to do (Evans, 302). However, many different types of tools have been developed by several Japanese companies over the last half century as part of their planning processes (Evans, 302). These tools can be used to address problems typically faced by managers in an everyday role. There are all different types of management tools that can be used to show the improvement in a chart or just explaining it in words. These help the manager understand what exactly needs to be done to improve the process it is struggling or needs â€Å"help† in. With AFLAC, showing these different management tools to management and the lower level employees will help them understand what AFLAC is trying to do as a company and is finding many ways to improve themselves in the

Nutrition †Food Essay

In our today’s society, especially western countries, the issue of fast food seems to be at the top of every health related debate. As these debates become more controversial, the question of who bears the responsibility remains unanswered. In his essay, Don’t Blame the Eater, David Zinczenko attempts to answer this key question by placing the greater responsibility of America’s obesity and other fast food related health issues on the fast food industries. Contrary to Zinczenko’s argument, Raldy Balko, in his essay, What You Eat Is Your Business, states that, people should take ownership of their health and well-being, and are therefore responsible for what and how they eat. Although both Zinczenko and Balko address the issue of responsibility, though with contrast, but valid arguments, Zinczenko seems to present a more convincing argument due to the way in which he explains the politics of food, the way in which our lifestyles are altered by what we eat, and things we can do to change the way we see food and its role in our lives. Although Zinczenko hold consumers responsible to an extent, he blames the fast food industries for the rising rate of obesity and other health issues related to fast food due to their failure to provide labels for their products. Zinczenko convincingly supports his claim by noting statistical data that shows the rise in money spent to treat diabetes. â€Å"Before 1994, diabetes in children was generally caused by a genetic disorder only 5 percent of childhood cases were obesity related, or Type 2 diabetes. Today, according to the National Institutes of Health, Type 2 diabetes accounts for at least 30 percent of all new childhood cases of diabetes in this country†(Zinczenko 392). He argues that, if the fast food companies are regulated so that they are responsible for their food contents, by providing proper labels, than consumers will make informed food choices. Contrary to Zinczenko, Balko argues that what one eats should be a matter of personal responsibility. To Balko’s credit, I believe that people should take personal responsibility for their health by adding a sensible diet and exercise to their routines. Where I differ from Balko is when he says that government restrictions on food are a result of people making poor food choices. According to Balko, â€Å"a society where everyone is responsible for everyone else’s well-being is a society more apt to accept government restrictions† (397). I think Balko’s argument in this regard, is a selfish one, and is an attempt to exempt the rich from paying their fair share of taxes that would otherwise benefit the poor or some middle families who cannot afford the high cost of health insurance. Both Zinczenko and Balko seem to agree on the rising health costs that are somehow a result of fast food, these two authors seem to differ on reasons. Zinczenko argues that health care cost is on the rise because of diseases caused by fast food due to the failure of fast food companies to provide labels and that consumers should not be blame for it. However, Balko argues that it is so that, we allow the â€Å"government to come between us and our waistline† (396). Balko states that, the more the government continues to fund health issues that are direct attribute of poor food/health choices, the more people will continue to dine on fast food and engage not in an effective diet and exercise regimen. (398) The growth of the fast food industry and the rate at which fast food is consumed is so fast, and its accompanying risks of obesity and related cardiovascular diseases have become a societal epidemic. Zinczenko blames the fast food industries for the spring in the rate to which obesity have grown in the United States. Even though Zinczenko is right about the rising rate of obesity, and that the consumption of fast food forms part of its etiology, the thesis of his argument cannot be proven and therefore cannot form the basis for his claims against the fast food companies since there are other contributing factors regarding the cause, onset, and progression of obesity. Obesity is also biologically linked. These biological attributors include: genetics, hormones, enzymes, and vitamins and minerals. Some people have fat in their genes that, no matter what they do, they are just fat. Others have issues with hormonal imbalances and or inadequate enzymatic actions that would aid in the adequate digestion and absorption of certain foods. Fast food is just one of the many environmental attributes associated with obesity. So Zinczenko can accurately make his case against the fast food industries for providing labels so as to enable consumers make informed food choices and not a case of obesity. Sometimes, people are too fast to pass judgment on others, especially people that are obese. I am equally guilty of the accusation myself. I work as a nurse at a nursing home facility and, in most cases, when staff member comes to me complaining of headache, first thing I say to them is; let’s check your blood pressure and, God forbid, the blood pressure is elevated, or if that person just look fat to me, my next comment is, it is because of all the junk you eat. My judgment, though may be incorrect, is based on the fact that most of these staff members are single parents, live in inner cities, and have a total commute time of two hours to and from work. Not to mention, some of them have more than one job. However, these people are being made to feel guilty about something that is totally out their control. In most instances, their wages aren’t even enough to meet up with their rents and utilities bills. Fast food comes handy in such instance where one can spend ten dollars and get ten cheeseburgers to feed a family of three to five versus going to the grocery store where each healthy ingredient is almost equivalent to the price of the entire dinner comprising of fast food. People fall back on fast food because it is cheap. Zinczenko explains that his parents were split up and that he had to live with his mother who worked long hours just to make the monthly bills. â€Å"Lunch and dinner, for me, was a daily choice between McDonald’s, Taco Bell, Kentucky Fried Chicken or Pizza Hut. † (Zinczenko 391). In Zinczenko’s case, his lifestyle is altered because fast food is his only option since his family is dysfunctional. His single mother has to work very hard to pay bills and provide him a meal. It doesn’t matter the kind of meal. A meal is a meal, especially for someone who doesn’t have the time to prepare a home cooked meal. The people afflicted with fast food related obesity are not to blame for what they eat because they have very little or no options regarding what they eat due to all of the above reasons. However, to Balko’s point, while people may not have the option about what they eat, they have the option to control how they eat. Zinczenko states in his essay that fast food is â€Å"the only available options for an American kid to get an affordable meal†, and so, he urges his readers not to â€Å"blame the Eater† (392). But as with Zinczenko, we are well aware of the role fast food play in our lives. We understand that, though fast may be one, or the only available meal choice that we have, the way we eat can help us determine the role these foods play in our lives. Zinczenko supports his argument about the role food play in his life by giving information about his pre-college weight. â€Å"By age 15, I had packed 212 pounds of torpid tallow on my once lanky 5-foot-10 frame† (392). Even Zinczenko believes that, consumers are as equally responsible for the way they eat. However, he maintains his argument that the fast food companies bare the greater responsibility. In conclusion, both the eater and the producer are responsible for fast food related obesity, but I believe that the fast industries should bare the greater responsibility. Fast food companies must provide their consumers with proper food labels that enable them to make inform decision about what they eat. Label should not be falsified or misleading, like in the example giving by Zinczenko about the misleading label on the â€Å"chicken salad† (393). He refers to the salad as not healthy and that it is a caloric death- trap aimed at eaters who will not suspect it. Although Balko makes some really good points, his objectives seem to me as a means to an end. Zinczenko cautions that there are few or no alternatives to what we eat and that things have to change. Balko cautions that allowing food regulations for labels means letting the government between you and your waistline. In either case, we as a people have a responsibility to consider what and how we eat.

Free Essays on Union

In colonial America, most of the manufacturing was done by hand in a home. Labor took place in workshops attached to the side of a home. As towns grew into cities, the demand for manufactured goods increased. Some workshop owners began hiring helpers to increase production. Relations between the employer and helper were generally harmonious. They worked side by side, had the same interests and held similar political views. The factory system that began around the mid 1800's brought great changes. The employers no longer worked beside their employees. They became executives and merchants who rarely saw their workers. They were less concerned with their welfare than with the cost of their labor. Many workers were angry about the changes brought by the factory system. In the past, they had taken great pride in their handicraft skills, and now machines did most of the work, and they were reduced from the status of craft workers to common laborers. The were also replaced by workers who would accept lower wages. The Industrial Revolution meant degradation rather than progress. As the factory system grew, many workers began to form labor unions to protect their interests. The first union to hold regular meetings and collect dues was organized by Philadelphia shoemakers in 1792. Soon after, carpenters and leather workers in Boston and printers in New York also organized unions. Labor's tactics in those early times were simple. Members of a union would agree on the wages they thought were fair. They pledged to stop working for employers who would not pay that amount. They also sought to compel employers to hire only union members.... Free Essays on Union Free Essays on Union In colonial America, most of the manufacturing was done by hand in a home. Labor took place in workshops attached to the side of a home. As towns grew into cities, the demand for manufactured goods increased. Some workshop owners began hiring helpers to increase production. Relations between the employer and helper were generally harmonious. They worked side by side, had the same interests and held similar political views. The factory system that began around the mid 1800's brought great changes. The employers no longer worked beside their employees. They became executives and merchants who rarely saw their workers. They were less concerned with their welfare than with the cost of their labor. Many workers were angry about the changes brought by the factory system. In the past, they had taken great pride in their handicraft skills, and now machines did most of the work, and they were reduced from the status of craft workers to common laborers. The were also replaced by workers who would accept lower wages. The Industrial Revolution meant degradation rather than progress. As the factory system grew, many workers began to form labor unions to protect their interests. The first union to hold regular meetings and collect dues was organized by Philadelphia shoemakers in 1792. Soon after, carpenters and leather workers in Boston and printers in New York also organized unions. Labor's tactics in those early times were simple. Members of a union would agree on the wages they thought were fair. They pledged to stop working for employers who would not pay that amount. They also sought to compel employers to hire only union members....

Are There Black People With Freckles

Are There Black People With Freckles SAT / ACT Prep Online Guides and Tips When you think about freckles, what do you think of? Fair-skinned children whose mothers slather sunblock on them? Bright, shocking red hair? Maybe even Pippi Longstocking? As a beauty feature, freckles are commonly associated with fair-skinned people, leading to the question: â€Å"Can black people have freckles?† The answer is yes- there are many black people with freckles, as well as people with other skin tones who have freckles, too. In this article, I’ll break down what causes freckles and who has them. I’ll also provide images of black people with freckles to demonstrate the different skin tones that have freckles. Can Black People Have Freckles? 3 Examples of Freckles on a Black Person Check out these three images to see examples of how freckles look on a black person. What Are Freckles? Freckles, also known as ephelides, are clusters of melanized skin. Freckles have melanocytes (melanin-producing cells) that overproduce melanin granules which change the color of outer skin cells. What does that mean? Basically, freckles are bunched-up clusters of melanin-producing cells. When UV rays hit these bunched-up clusters of cells, they’ll darken in color, changing the pigment of small parts of your skin. Freckles are triggered by sunlight, meaning that they develop as you grow and expose your skin to the sun. Because freckles appear after exposure to sun, many people associate them with sun damage. However, freckles are actually not related to sun damage at all. Freckles can, though, disguise lentigo, or sun spots, which can be a sign of cancer. Regardless of your skin tone and the presence of freckles, you should always protect your skin with a broad spectrum UVA/UVB sunscreen that’s SPF 30 or higher. Not just anyone can have freckles. In order to have freckles, you must have a variation of the MC1R gene. People of all heritages and skin tones can have this genetic mutation. Why Are Freckles More Commonly Associated With Fair Skin? If there are black people with freckles, why are freckles so predominantly associated with people with fair skin? Why aren't there many examples of black people with freckles? The answer lies in genetics. The variation of the MC1R gene that causes freckles is passed down genetically. People of Celtic heritage, who typically have very fair hair and skin, are more likely to have this genetic mutation than other groups. However, people of African, Mediterranean, Asian, and Hispanic descent can also have freckles. The genetic mutation simply isn’t as common in these groups as it is in groups of Celtic descent, so you don't see as many Asian or black people with freckles. Can Freckles Disappear? Just as freckles appear in the light, they can fade in the lack of sun exposure. Many people whose freckles appear during the summer often watch those same freckles fade over the winter. On the other hand, there are plenty of people whose freckles stay year-round after they first appear. Every person’s freckles are slightly different. 4 Tips for Taking Care of Skin with Freckles While freckles aren’t associated with skin damage, they can make you more prone to getting other, malignant types of skin conditions. Follow these four tips to take care of your skin if you have freckles. #1: Always Wear Sunscreen Both fair skinned and black people with freckles (and really everyone) should always wear sunscreen. Look for a broad spectrum UVA/UVB sunscreen that’s SPF 30 or higher. If you’re trying to limit the appearance of freckles, sunscreen will help guard your skin from the UV rays that cause freckles to appear. Sunscreen will also help prevent dangerous skin damage. #2: Visit a Dermatologist If you freckle easily, your skin will also be more prone to skin cancer and sun damage. You should visit a dermatologist at least once a year to receive a skin cancer screening. Some types of skin cancer look like freckles, so it’s important to visit a doctor who can help you tell the difference. #3: Perform Monthly Self-Examinations Just like women should perform monthly breast self exams, people with freckles should perform monthly skin exams. You don’t have to do anything fancy for a skin exam- simply make note of the freckles, moles, and other skin markings you have. The more aware you are of your body, the more likely you are to notice when something has appeared or changed. #4: Exfoliate Exfoliating helps remove dead skin cells and allows for healthy skin turnover. Exfoliating will help remove dead, dull-looking skin and help your other skin care products, like sunscreen and moisturizers, work better. Recap: Can Black People Have Freckles? Freckles are caused by a variation on the MC1R gene- and anyone, with any skin color or heritage, can have them. Freckles are clusters of melanin-producing cells that appear when exposed to UV rays. If you have freckles, it’s important to take good care of your skin by using sunscreen to prevent from sun damage.

Colorado School of Mines GPA, SAT ACT Requirements

Colorado School of Mines GPA, SAT ACT Requirements Admission to Colorado School of Mines is selective, and in 2015, only 38% of all applicants were admitted. To get in, youre going to need grades and standardized test scores that are well above average. In the scattergram above, the blue and green dots represent accepted students. You can see that the majority of successful applicants had high school averages of 3.5 or higher, SAT scores (RWM) of about 1200 or higher, and ACT composite scores of 24 or higher. The higher those numbers, the better your chances of receiving an acceptance letter. The average ACT composite for accepted students is 30. Note that there are many red dots (rejected students) and yellow dots (waitlisted students) hidden behind the green and blue throughout the graph. Many students with grades and test scores that were on target for Colorado School of Mines did not get in. Note also that a few students were accepted with test scores and grades a little bit below the norm. This is because Mines uses has holistic admissions admission decisions are based on more than numerical data. The Mines application asks for information about your extracurricular activities and awards, and you also have the opportunity to provide a personal statement. The college also pays close attention to the rigor of your high school courses, especially in math. How Do You Measure Up? Calculate Your Chances of Getting In with this free tool from Cappex. To learn more about Colorado School of Mines, high school GPAs, SAT scores and ACT scores, these articles can help: Colorado School of Mines Admissions ProfileWhats a Good SAT Score?Whats a Good ACT Score?Whats Considered a Good Academic Record?What is a Weighted GPA? If You Like Colorado School of Mines, You May Also Like These Schools   Stanford University:  Profile  |  GPA-SAT-ACT GraphCornell University:  Profile  |  GPA-SAT-ACT GraphCal Poly:  Profile  |  GPA-SAT-ACT GraphCarnegie Mellon University:  Profile  |  GPA-SAT-ACT GraphPurdue University:  Profile  |  GPA-SAT-ACT GraphHarvey Mudd College:  Profile  |  GPA-SAT-ACT Graph

A study of online shopping behaviour of Thai generation Y consumers in Essay

A study of online shopping behaviour of Thai generation Y consumers in Thailands retail fashion industry - Essay Example Accordingly, this study concentrates on how independent variables, such as advertisement and promotion influences online shopping behaviour of consumers. Studies, such as Lin (2007), Haig (2001), Moschis & Churchill (1978), Chawla (n.d.), also argued that these components are quite vital when determining the purchase intent of the consumers. While these studies and many others assessed during the literature review did not put much emphasis on indicating the influence of price on the consumer decision-making to purchase fashion products. It was in this context that the gap was mitigated with the help of primary research, wherein the findings from focus group interview revealed price to be a major factor in determining the customer purchase behaviour. On the basis of the conceptual framework, it is vital to develop a hypothesis in order to evaluate the relationship between dependent variables and independent variables. Henceforth, two hypotheses have been conducted for evaluating the relationship between dependent and independent variables by using the Statistical Test namely Pearson product-moment correlation coefficient as mentioned in Methodology part. In this first section, descriptive statistics are employed for analysing the primary data of the respondents demographic profiles. In descriptive analysis, the raw data are presented in terms of frequency and percentage. These data include demographic information, namely gender, income and age. The table above displays that there were 144 male participants which were the percentage of 45 of 100 and there were 176 female participants or 55% in this survey. Thus, the total number of respondents who was observed for this research was 320. From Table 4.1b, it can be seen that the largest monthly income earned was the group between 10,000 29,999.99 baht or equivalent to  £150 - 450 for 170 respondents or 53.1%, the

The Future of airlines Essay Example | Topics and Well Written Essays - 2500 words

The Future of airlines - Essay Example The security concerns shown by many passengers and increasing surveillance by the security agencies not only mean scheduling delays but airlines are also facing a general increase in the overall discontent of the customers. What will be the future of airline industry and how it will shape itself into future is a big question for strategists as well as futurologists as the fast changing business environment envisages completely new and revolutionary changes into it. However, before discussing what changes may take place in airline industry as well as well as the individual business practices of different airline firms. This paper will present an analysis regarding the future of airline industry and how it shape into future and what course of action industry will take over the different external as well as internal issues which industry is currently facing. It is being argued that the US airline industry is the victim of its own past success. The industry thrived on intense competition to lower the fare to attract as much passenger traffic possible however due to lack of government support in terms of increasing the overall capacity of the airports and runways, the increasing passenger demands were not adequately met due to which industry started to suffer a sharp decline from its previous position. The event of 9/11 aggravated the situation further by adding other dimensions to the overall air travel and that was of safety. There are many issues which are of concerns for most of the industry experts regarding the future of airline industry including the increasing concerns over customer services, safety of the customers which has become an increasingly important concern, changing technology as well as overall economics of doing the business. Further, due to safety concerns, the demand for the private jets especially light jets is increasing. The use of lightweight jets are predicted to be used air taxies to cover short distances at relatively low costs and more accuracy without loss of time. Apart from above factors, globalization, shifting of economic activity to countries such as China, Brazil, Russia etc, current credit crunch in most of the developed countries, ageing population with lesser requirements of air travel, corporate social responsibility as well as ethical consumerism are all the different factors which are said to be contributing towards defining the future shape of airline industry. The above graph1 suggests that the recent activity in airline industry is decreasing with the passage of time. Not only passenger traffic is consistently decreasing but the freight is decreasing too due to high oil prices. It is also because of this reason that most of the airlines have started charging baggage surcharge as well as reduced the amount of meals served in order to remain competitive in the face of reduced passenger and freight traffic. The above scenarios suggest that different factors which have been mentioned above are already taking their toll over the progress and growth of the industry. Corporate and Social Responsibility Corporate social responsibility is not a new concept and its relevance to the airline industry is as long as the concept itself. What is important however is the fact that corporate and social

Marilyn Monroe by Barbara Leaming Essay Example | Topics and Well Written Essays - 750 words

Marilyn Monroe by Barbara Leaming - Essay Example In some ways the book tells a story that is very familiar. Thus Marilyn Monroe is portrayed as an abused, confused girl from an orphanage with an insane mother who lives in an asylum. By a remarkable mixture of luck, co-incidence and the personal magnetism that the young girl possessed Marilyn Monroe rises to become the most successful movie star of her time. Subsequently she falls and eventually dies, the victim of drug abuse, self-hatred and a destructive life-style that left her few options. Beyond this familiar characterization, Leaming suggests that Marilyn Monroe was in fact far more in control of her life than most biographers have given her due. Thus her rise to fame and subsequent crash to probably suicide was more within Monroe's own hands than people appreciated at the time or have seen ever since. Leaming suggests that Monroe was in fact highly ambitious and knew how to construct an apparently irresistible persona that would both fascinate and intrigue the public. From her rendition of "Happy Birthday" for President John F Kennedy to her attempts at choosing exactly the right movie at the right time and even to her somewhat bizarre choices of husbands including the cerebral playwright Arthur Miller, Leaming argues that Monroe was far more in control of her life than appeared from the outside. This control is especially seen in the long and complex negotiations with movie studies that are documented throughout the book. The fact that Monroe had a first-class business mind beyond the "dumb blonde" persona that she often portrayed has seldom been considered. It is, indeed, a fact about many Hollywood stars that is often ignored or downplayed. Leaming does not explore the apparent contradiction between this competitive, manipulative Monroe and the out-of-control drug addict who could not stand the natural process of aging and the loss of looks. This is a pity, as the two sides of Monroe sit uneasily besides one another without being really reconciled. Perhaps Leaming is suggesting that they cannot be explained: they merely exist. This portrayal of Marilyn Monroe sits somewhat uneasily with the overall pessimistic tone of the book as the star's life is seen as on a downward spiral from birth, despite the wealth and fame that she eventually achieved. If Monroe was in control of her life, she apparently sought to destroy herself within Leaming's portrayal. The final moments of her life are shown to be a mixture of accident and deliberation. According to Leaming, Marilyn Monroe may have taken her final overdose because her psychiatrist was going out to dinner and would not talk to her until the next day. Monroe felt abandoned and thus killed herself. To conclude, Leaming brings a new perspective and new material to one of the most studied and written about figures in American cultural history. She portrays the culture that Monroe lived within in a provocative manner, showing that the iconic playwright (and Monroe's one-time husband) was involved in a bizarre rivalry with every other male in her life. She shows that Monroe tried to control her life in a manner that has seldom been explored, but that this attempt was ultimately doomed because of an insane streak that Monroe probably inherited from her mother. Similar to many stars of her time, Marilyn Monroe was doomed to a relatively young, pathetic death through a drug overdose. But paradoxically, it was this death that assured her

Major Health and lifestyle Issues Essay Example | Topics and Well Written Essays - 2500 words

Major Health and lifestyle Issues - Essay Example The connection is that the kind of lifestyle that a person exhibits predisposes him or her to a health issue. These issues include the cancers, obesity and cardiac conditions. They are closely related to lifestyles and behaviours such as smoking, diet and nutritional changes and overweight, and alcohol and drugs abuse. This paper will deal with some of these health and lifestyle issues in depth. Cancer is a serious and potentially fatal condition that affects the body cells. The disease is as a result of a combination of hereditary and environmental factors that result to gene mutation (Gray 2005). When cell growth regulatory genes are mutated, they fail to regulate cell growth resulting in an aberrant cell behaviour, uncontrolled expansion of cell masses that destroy the cell surrounding by causing excess pressure on organs and tissues. This affects the functions of the organs. In extensive case, the aberrant cells are disseminated in other parts of the body causing the spread of the cancer, a phenomenon called metastasis (UK 2014). When the cancer metastasis to vital organs, it spreads faster, and the prognosis becomes poor. The environmental factors that result to cancer includes exposure to carcinogens, which are present in some foods, water and air. Tobacco and diet have been found to be the causes of up to 30% of new cancer cases in the world. This means that much o f the cancer is preventable. According to WHO, cancer is among the leading causes of mortality in the world. In 2012, the disease caused an approximate of 8.2 million deaths. There are many kinds of cancers, named according to the affected organ (Naidoo &Wills 2010). Lung, liver, gastric, colorectal, and breast cancers are the most common and the main causes of the cancer-related deaths in that order (DeVita, Hellman, & Rosenberg 2005, p.  26). It is estimated that one-thirds of the cancer deaths are related to behavioural and lifestyle changes

Case 9 Discussion Questions Essay Example | Topics and Well Written Essays - 1000 words - 1

Case 9 Discussion Questions - Essay Example Furthermore, there was no discussion of the target audience for which the renovations would take place. As was made obvious in the case study, the club itself is losing out on a powerful and important demographic of membership. As a means of attracting this demographic, the shareholders should be intimately aware of what types of improvements to the Hunt Room, if any, would engage this otherwise disenfranchised group of potential clients. A very important piece of information that should be sought prior to determining whether to remodel, shutter, or leave the Hunt Room as is relates to the feelings of the current clientele. Although the room itself is not necessarily generating a large share of profits for the club, it does fill an important niche and retain a level of happy and satisfied customers; therefore, attempting to poll these individuals as to the level of change they would like to see and incorporating these inputs in with layers of what would attract newer/younger patrons could be an effective win/win situation. Furthermore, performing such a level of market research is both easy to do and costs virtually nothing. With regards to how often a room should be reconcepted, this entirely depends on the clientele that avail themselves of the room, the level of brand image that is associated with the room, and the degree to which customers are not only loyal to the firm/organization/club, the food, or the management, but also the actual immutability of the room itself. For these reasons, providing a hard and fast rule with reference to a definite time period in which a given room should be reconcepted would be foolish to the litany of different business plans that exist which to a varying degree rely on the appeal of the unchanging nature of the setting itself as a prime selling point. Secondly, with regards to what makes restaurant concepts grow out of practice, it is the belief of this author that the style in

Major Health and lifestyle Issues Essay Example | Topics and Well Written Essays - 2500 words

Major Health and lifestyle Issues - Essay Example The connection is that the kind of lifestyle that a person exhibits predisposes him or her to a health issue. These issues include the cancers, obesity and cardiac conditions. They are closely related to lifestyles and behaviours such as smoking, diet and nutritional changes and overweight, and alcohol and drugs abuse. This paper will deal with some of these health and lifestyle issues in depth. Cancer is a serious and potentially fatal condition that affects the body cells. The disease is as a result of a combination of hereditary and environmental factors that result to gene mutation (Gray 2005). When cell growth regulatory genes are mutated, they fail to regulate cell growth resulting in an aberrant cell behaviour, uncontrolled expansion of cell masses that destroy the cell surrounding by causing excess pressure on organs and tissues. This affects the functions of the organs. In extensive case, the aberrant cells are disseminated in other parts of the body causing the spread of the cancer, a phenomenon called metastasis (UK 2014). When the cancer metastasis to vital organs, it spreads faster, and the prognosis becomes poor. The environmental factors that result to cancer includes exposure to carcinogens, which are present in some foods, water and air. Tobacco and diet have been found to be the causes of up to 30% of new cancer cases in the world. This means that much o f the cancer is preventable. According to WHO, cancer is among the leading causes of mortality in the world. In 2012, the disease caused an approximate of 8.2 million deaths. There are many kinds of cancers, named according to the affected organ (Naidoo &Wills 2010). Lung, liver, gastric, colorectal, and breast cancers are the most common and the main causes of the cancer-related deaths in that order (DeVita, Hellman, & Rosenberg 2005, p.  26). It is estimated that one-thirds of the cancer deaths are related to behavioural and lifestyle changes

Solutions for Stay at home fathers and mothers from a marketing Essay

Solutions for Stay at home fathers and mothers from a marketing perspective - Essay Example most people become stay at home mums and dads not out of their will but as victims of circumstances, they tend to become highly depressed and lonely with this new trend of role. It is not surprising therefore that latest reports show high rates of cases of heart diseases (Watkins and Mohr, 2001). But as long as the cause of most cases of stay at home fathers and mothers is as a result of economic factors, marketing philosophies, which are directly related to economics could be used to salvage the problem. Two of these are discussed below. Support network is an important marketing perspective that can be used to address one of the issues commonly faced by stay at home fathers and mothers, which is the problem of dilemma between traditional and untraditional gender stereotypes. Especially for stay at home fathers who function in backgrounds where much premium is placed on traditional roles of husbands and wives, they often become confused as to roles they have to take up and those they have to abandon as they stay at home. But should these people use the marketing strategy of support network, which deals with the setting up of connections and networks with people who are involved in similar trades, they would be presented with the opportunity of learning from one another, how they cope with their individual dilemmas and the eventual decisions they take to come out of these dilemmas. Then also, the support network can help them in learning new strategies of generally overcoming their weaknesses and threats and turning t hese into strengths and opportunities, just as it happens in SWOT analysis (Wheatley, 2007). Another marketing perspective from which these confused and isolated stay at home mothers and stay at home fathers can have solutions to their problem has to do with packaging. In marketing, packaging is often used to describe the medium through which the product is conveyed to the consumer (Flick, 2008). In the present circumstance, packaging can be used the

Dark Chocolate Essay Example for Free

Dark Chocolate Essay (NaturalNews) Ongoing research shows that eating dark chocolate exerts beneficial effects throughout the whole body. High quality chocolate delivers disease-zapping antioxidants, lowers blood pressure and protects your heart and liver, all in one fell crunch. Chemistry Central Journal brings even more good news for chocolate lovers, stating that dark chocolate contains more flavanols and polyphenols than fruit juice. Cacao seeds are a Super Fruit providing nutritive value beyond that of their macronutrient composition, said Dr Debra Miller. Chocolate and Blood Pressure The important thing is that the antioxidants in dark chocolate can significantly reduce blood pressure in patients with hypertension. According to researchers from the University of Adelaide, flavanols promote vasodilation, which may consequently lower blood pressure. There have, however, been conflicting results as to the real-life effects of eating chocolate. Weve found that consumption can significantly, albeit modestly, reduce blood pressure for people with high blood pressure but not for people with normal blood pressure. added Dr Karin Ried, who is program manager and research fellow of the PHCRED (Primary Health Care Research Evaluation Development) program at The University of Adelaide. The analysis concluded that the pressure reduction caused by chocolate consumption was comparable to the effects of 30 minutes of daily physical activity. Chocolate and Cirrhosis There are also potential benefits for liver disease patients. Spanish scientists found that eating dark chocolate lowers blood pressure in the liver and reduces damage to the blood vessels of patients with cirrhosis. A study which was presented at the International Liver Congress 2010 divided 21 cirrhotic patients with end stage liver disease into two groups. The first group received liquid meal containing dark chocolate, while the participants in the second group were getting liquid meal with white chocolate devoid of anti-oxidant properties. As a result, the patients receiving dark chocolate experienced a noticeable reduction of post-prandial increase in blood pressure in the liver. one Square Is Enough. However, it is not necessary to eat huge quantities of chocolate in order to experience all the health benefits. In fact, just one small square a day may be enough to experience the health benefits chocolate is offering. A study performed in Germany that compared 19 357 individuals found that those who ate the most amount of chocolate (an average of 7. 5 grams a day) were at a 39% lower risk of developing a heart attack than people with the lowest (1. 7 grams) chocolate intakes. To put things into perspective, the six grams of difference are the equivalent of one small square of a typical 100g chocolate bar. Our hypothesis was that because chocolate appears to have a pronounced effect on blood pressure, therefore chocolate consumption would lower the risk of strokes and heart attacks, explains Dr Brian Buijsse from the German Institute of Human Nutrition, who led the research. Small amounts of chocolate may help to prevent heart disease, but only if it replaces other energy-dense food, such as snacks, in order to keep body weight stable.

Impact Of Economic Recession on Wet Bulk Shipping

Impact Of Economic Recession on Wet Bulk Shipping Abstract Global economic integration and the world economy is closely linked with the world shipping market, 2009 world economic recession caused a negative impact on the economy of each countries, the shipping industry has been seriously affected. This article assesses the economic recession affecting the wet bulk shipping sector from four parts. Key words: economic recession; freight rates; wet bulk shipping; excess capacity. The Impact of the Economic Recession on Wet Bulk Shipping Introduction Shipping is a global industry, which is the lifeline of the world economy. The global bulk shipping markets consist of two main sectors dry bulk and wet bulk (Stopford, 2003). The carrier of wet bulk is tanker. It can transport oil or oil-based products liquid petroleum gas (LPG), vegetable oil etc., liquid chemicals or liquid natural gas (LNG) (House, 2007). However, crude oil carried in Very Large Crude Carriers (VLCCs) is the biggest wet bulk shipping market. The world financial crisis has brought a great impact to the international economy, which created the economic recession deeply and widely in 2009, especially in transport sector (European Commission, 2009). The crisis has triggered a slowdown in global economic growth that is manifesting itself in a demand-driven fall in international trade exacerbated by the deficit of credit and trade finance; falling commodity prices; declining remittances; contracting foreign direct investment (FDI); and the potential of declining offi cial development assistance (ODA) (UNCTAD secretariat, 2009a). This has given rise to the most significant challenges for wet bulk shipping (tanker) that involved volume, freight rates, operational productivity and job cuts. Effects on Tanker Freight Rates Transport market usually makes a direct reflection to a downturn in demand. The price of chartering tanker ships indicates the demand-supply balance for different wet bulk. The demand of tanker can be measured in tonne-miles. Table 1 describes the tonne-mile demand of most tanker sectors. There is a downward trend which dropped nearly 1.6% in 1H09 comparing with 1H08 (TANKEROperator, 2009a). The reason was that the demand of crude oil declined since last year. Different indices can present different market, i.e. The Baltic Exchange Dirty Tanker Index (BDTI) represents the crude oil market, which in major trading routes includes VLCC, Suezmax, Aframax and Panamaxes. Moreover, the Baltic Exchange Clean Tanker Index (BCTI) makes up of clean Panamax, Handymax and Handysize tankers (TANKEROperator, 2009b). Table 2 illustrates that comparing with the same period of 2008, freight rates of tanker vessels in the middle of 2009 were down. The deppening ecomomic crisis cause oil demand decline. BDTI shows an upward trend, which fell from 849 points in January 2009 to 482 in June 2009. It nearly fell half. BCTI also showed an downward trend, from highs of 623 in January 2009 to lows of 479 in June 2009 (UNCTAD secretariat, 2009a). Table 3 shows average freight rates, which is a unified measure for establishing spot rates. The areas of the table indicated including Persian Gulf, West Africa, the Mediterranean, the Caribbean, Singapore, East Asia, South Africa, North-West Europe and the East Coast of Norh America. Comparing feight indices of tanker market between the first half of 2008 and 2009, it can be seen that the freight rates on all routes declined. Though the feight rates in some routes in June of 2009 had a little increased than previous months, but overall trend was downward. Among them, there was a dramatic declines in freight rates for VLCC and ultra-large crude carrir (ULCC). The routes which they serviced were the Persian Gulf to Easern Asiam Europe, the Americas and South Africa. Table 3 clearly shows that the freight rates for VLCCs in April and May of 2009 on the Persian Gulf to Japan and the Persian Gulf to Republic of Korea routes decreased by nearly 50 percentage, from WS51 to WS27 and WS53 t o WS27 separately. The reason can be attributed to the Organisation of the Petroleum Exporting Countries (OPEC) members cutting the oil production thus, the volume of cargo which transport from Persian Gulf to other areas was reduced (UNCTAD secretariat, 2009a). In addition, LNG shipping reached in record-low freight rates in the spot and short-term LNG trades in spring 2009. The LNG industry has been closely tied to gas demand in Japan and Korea, because the two Asian nations account for nearly one-half of the global trade in LNG (Corkhill, 2009a). The Arab countries exports to Japan and Korea went down in July 2009 by 4.7% or 88 thousand tons to 1.801 million tons a share of 27.5% of total Japanese and Korean LNG imports (OAPEC, 2009). Effects on Voulme OPEC which provides about 40% of the worlds oil supply try to stabilise oil prices therefore, it decided to recuce daily production from 4.2m barrels per day to 24.9m bpd (Calderas-Mendez, 2010). Tanker shipping has been dealt with the delayed impact of declining demand. This cutting supply decision caused decline in the amount of oil carried by VLCCs (Calderas-Mendez, 2010). From the international oil market situation in recent years, the oil supply disruption is not happened, the oil market focus mainly on oil prices. In the downturn, table 4 shows that there was a large demand declines from the fourth quarter of 2008 to the second quarter of 2009, whcih attributs to the developed countries economics, particularly the United State (economic crisis). The demand of oil decline, the freight rates decline. Therefore, OPEC carried out a series of production cuts to support prices in order to faced with the demand weakness (International Monetary Fund, 2009). Effects on Operational Productivity Decline in demand for shipping, plus the financial crisis led to banks tightening credit on shipping finance, many shipping companies have been cancelled shipbuilding orders and have a wave of defaults began to appear. According to UNCTAD secretariat (2009) analysis, the share of liquefied gas carriers (of LNG and LPG) has stood at 10.8 per cent on 1st April 2009. As the volume of cargo per carrying capacity and freight rates decreased, the productivity in terms of tons carried per deadweight ton (dwt) of oil tankers were seriously surplus. There was 4.0 per cent of the world tanker fleet overcapacity in April 2009 (UNCTAD secretariat, 2009b). The market always showing that when cargoes fall away and the demand for ships drops. The fundamental reason for the decline in average productivity in recent years is the oversupply of tonnage available, which contrasts with the reduced growth in world seaborne trade (UNCTAD secretariat, 2009a). Although taking longer time, some of the shippin g companies chose routes that cost less. Some ships are being laid off to reduce the tons carried per dwt because of the reduced seaborne trade. Figure 1 shows the productivity of the world fleet has a significantly decline in 2009 and the values between 27,000 and 28,000 ton-miles (UNCTAD secretariat, 2009a). In addition, after some shipping companies and shipping agencies re-scheduled cargo routes, due to the pressure of freight rate, which is not enough to make up the cost, lay off ships was thought more cost-effective way. Effects on Job Cuts Affected by the depressed market, the ship owner started a large number of labour layoffs. Inevitably, some shipping companies wanted to cut additional cost; therefore, they closed overseas offices in the rescue plans in the current depressed market. During this hard time, shipping industry faced up to the challenges of over-tonnage, ship owner try to streamline their fleets in order to ease the increasing cost and manpower burdens. In addition, another reason for job cuts was the rising price of crude oil, other raw materials which had driven up the costs of ship maintenance, repairs and bunkers (Corkhill, 2009b). Conclusion With the process of global economic integration, international trade becomes a chain of countries in the world market, while the shipping industry as the main carrier of world trade that has become an important part of the economy. Every time of the fluctuations in the global economy will obviously reflect in the shipping market. In the global context of economic slowdown, both of the volume of trade and demand has a decline in different degrees, and at the same time it leads to the consumer and investor lack of confidence, which has brought great impact on the shipping industry. There hasnt been a major bankruptcy in the shipping market, which is an economic miracle in 2009 economic recession (BIMCO, 2009). The growth of the total carrying capacity greatly exceeded the growth of the economy and shipments, thus capacity has become surplus. When supply exceeds demand, the freight rates under the pressure or even have declined, the profit of shipping company dealt a heavy blow in the hard time. Since the outbreak of the financial crisis, the credit system has been practiced in a crisis, some banks refused to provide credit guarantees, which leads traders to pay shipping difficulties. Additionally, the operation of the shipping industry to make matters worse.