Thursday, November 28, 2019

Aristotle Essays (1001 words) - Ancient Greek Philosophers

Aristotle Aristotle was born in 384 BC and lived until 322 BC. He was a Greek philosopher and scientist, who shares with Plato being considered the most famous of ancient philosophers. He was born at Stagira, in Macedonia, the son of a physician to the royal court. When he was 17, he went to Athens to study at Plato's Academy. He stayed for about 20 years, as a student and then as a teacher. When Plato died in 347 BC, Aristotle moved to Assos, a city in Asia Minor, where a friend of his named Hermias was the ruler. He counseled Hermias and married his niece and adopted daughter, Pythias (wierd names, huh). After Hermias was captured and executed by the Persians, Aristotle went to Pella, Macedonia's capital, and became the tutor of the king's young son Alexander, later known as Alexander the Great. In 335, when Alexander became king, Aristotle went back to Athens and established his own school, the Lyceum.Since a lot of the lessons happenned when teachers and students were walking, it was nicknamed the Peripatetic school (Peripatetic means walking). When Alexander died in 323 BC, strong anti-Macedonian feeling was felt in Athens, and Aristotle went to a family estate in Euboea. He died there the following year. Aristotle, like Plato, used his dialogue in his beginning years at the Academy. Apart from a few fragments in the works of later writers, his dialogues have been wholly lost. Aristotle also wrote some short technical writings, including a dictionary of philosophic terms and a summary of the "doctrines of Pythagoras" (the guy from the Pythagorean Theorem). Of these, only a few short pieces have survived. Still in good shape, though, are Aristotle's lecture notes for carefully outlined courses treating almost every type of knowledge and art. The writings that made him famous are mostly these, which were collected by other editors. . Among the writings are short informative lectures on logic, called Organon (which means "instrument"), because "they provide the means by which positive knowledge is to be attained"(They're not my words, I'm quoting him). His writing on natural science include Physics, which gives a huge amount of information on astronomy, meteorology, plants, and animals. His writings on the nature, scope, and properties of being, (I know what one of them means!) which Aristotle called First Philosophy (to him it was "Prote philosophia"), were given the title Metaphysics in the first published version of his works (around 60 BC), because in that edition they followed Physics. His belief of the "Prime Mover", or first cause, was pure intellect, perfect in unity, immutable, and, as he said, "the thought of thought," is given in the Metaphysics. Other famous works include his Rhetoric, his Poetics (which we only have incomplete pieces of), and his Politics (also incomplete). Because of the influence of his father's medical profession, Aristotle's philosophy was mainly stressed on biology, the opposite of Plato's emphasis on mathematics. Aristotle regarded the world as "made up of individuals (substances) occurring in fixed natural kinds (species)" (more confusing quotes, yippey!). He said "each individual has its built-in specific pattern of development and grows toward proper self-realization as a specimen of its type. Growth, purpose, and direction are thus built into nature." Although science studies many things, according to Aristotle, "these things find their existence in particular individuals. Science and philosophy must therefore balance, not simply choose between, the claims of empiricism (observation and sense experience) and formalism (rational deduction)." One of the most famous of Aristotle's contributions was a new notion of causality. "Each thing or event," he thought, "has more than one 'reason' that helps to explain what, why, and where it is." Earlier Greek thinkers thought that only one sort of cause can explain itself; Aristotle said four. (The word Aristotle uses, aition, "a responsible, explanatory factor" is not th same as the word cause now.) These four causes are the "material cause", (the matter out of which a thing is made); the "efficient cause", (the source of motion, generation, or change); the "formal cause", (the species, kind, or type); and "the final cause", (the goal, or full development, of an individual, or the intended function of a construction or invention.) Although I don't know what these mean, they sound philosiphical.an example he gave is "a young lion is made up of tissues and organs, its material cause; the efficient cause is its parents, who generated it; the formal cause is its species, lion; and its final cause is its built- in drive toward maturity." Another example he gave is "the material

Monday, November 25, 2019

Effective organisation management

Effective organisation management Introduction and Overview Organisational effectiveness is one of the key measures of the success of a business. It entails examining the business in terms of its profitability, productivity, efficiency, adaptive-ness, growth, morale, stability, and ethical conditions. For these conditions to be achieved, it is necessary that the organisation architecture, decision making process leadership and team building activities be carried out effectively.Advertising We will write a custom research paper sample on Effective organisation management specifically for you for only $16.05 $11/page Learn More This research work evaluates the different managerial functions that must be carried out to ensure that the organisation is effectiveness. A detailed analysis of these factors is carried out to determine their importance and what managers should do to ensure that their company is effective. Organisational Architecture Organisational architecture refers to the process th rough which organisations guide and control the business so as to realize their principle qualities such as customer satisfaction. Figure 1 below shows the main elements of the organisation architecture. Figure 3 elements of organisational architecture Organisational Society An organisation is operated under strict guidelines and fixed rules. Furthermore, organisations have a hierarchical rank. This is referred to as bureaucracy. The main characteristics of a bureaucratic organisation are division of labour, technical competence, hierarchy to the authority, meritocracy, rules, formalization and rights of the position. For the organisation to be effective the following factors must be taken into consideration: operations should revolve around the process power must be dispersed the organisation must focus on the customer the organisation must combine both managerial and non managerial functions the company must invest in training and developing employees the company must reward em ployees Organisational structure The organisational structure is the hierarchical arrangement of an organisation. This structure enables effective communication and sharing of duties within the organisation. Organisation structure results to differentiation and integration. Differentiation entails the subdivision of an activity into smaller parts while integration entails to combination of many task to produce a product or service.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Decision making within the organisation Decision making in an organisation is one of the key elements. Managers make crosscutting decisions that affect the company performance. Management science developed the need for appropriate decision making in an organisation. In 1950 the bounded rationality theory was introduced as alternative to the classical theory. In 1953, the Herbert Simon formalized the behavioural theory (Simon, 1979). Decision making theories Ethical decision making process will entail the use of several principles such as reality principle, value creation, justice, honesty, rational self interest and long term profit (Woiceshyn, 315). Rational decision making process In this category, there are two main theories, these are; the classical and the behavioural theory. The classical theory asserts that the predictive power is got from environment shape while the behavioural theory relies on the knowledge and computational abilities of the human agent (Ibrahim, 631). Rational decision making process is a systematic process that aids in the formulation of a decision (Williams, 89; Ibrahim, 631). This process is sequential and has several steps as outlined below (Lunenburg 3): Problem identification Identifying alternatives Evaluating the different alternatives Selecting the best alternative Implementing the selected alternative Monitoring the decision effectivene ss Limitations of the decision making process The main limitation that affect the decision making process are Limited mental capacities and know how Limited resources Complexities in the organisational environment and emotions (Good Yeganeh,15). Management power For the management to be effective, they must wield some power on their employees. There are several sources of power which managers rely on. These sources of power include: expert power, legitimate power, referent power, reward power and coercive power. Roles of power in an organisation The main purposes of managers excising power in an organisation are Motivation: managers use power to motivate their employees Reward and punish employees: authority allows managers to reward hard working workers and reprimand errant employees Compelling vision: the managers can develop a compelling vision Types of managers The main types of managers are (McClelland, 128):Advertising We will write a custom research paper sample on Effective organisation management specifically for you for only $16.05 $11/page Learn More Affiliative managers: these managers aspire to be liked that getting the job done Personal power manager: this group focus on getting the job done and don’t care how employees perceive them. Institutional managers: these are more interested with power more than anything else Tactics used by managers to influence their employees Influence can be defined as the ability to change someone behaviour. Managers use different tactics to influence their employees. Managers must master the ability to influence their employees positively for them to deliver better results as compared to the organisation competitors (Rykrsmith, 1). To do these, managers must develop appropriate tactics. The development of these tactics is influenced by the leader traits, behaviour and the current organisation situation (Holmes, 1). Among the major tactics used by managers include: coalition, exchange, consultation, exchange, pressure, inspirational appeal, legitimating, personal appeal and rational persuasion. Team building within an organisation Team building entails the process through which members of a given organisation are seen as working as a group and not as individuals. The main essence of a team is shared goals, collective work, mutual accountability and assigning teams different roles (Norman-Culp, 2). In a team, the members are all committed into working for a common goal and this brings out efficiency and effectiveness in product and service delivery (Katzenback, Jon and Douglas, 167) A manager must choose and build a team effectively, the main strategies followed when choosing and managing a team are Select members with skills and potential to handle the assigned task The rules and regulation must be clear The group should be trained and new information availed to them The group and its leader should spend time together Hardworking teams should be reward ed (Katzenbach and Smith, 124) Communications within the organisation Communication can be defined as passing of information from one person to another. For managers to be effective in their day to day duties, they must have good communication skills. Communication helps a manager to perform his main duties such as planning, controlling and organising. The main communication documents within the organisation are letters, memos, financial reports and outlines. The main elements of an organisational conversation include intimacy, inclusion, intentionality and interactivity (Stephen et al.,155). Conclusions and recommendations Conclusions In conclusion, there are several factors that affect the effectiveness of a given organisation. These factors include the organisation architecture, leadership, adopted strategies, team building activities, effective communication and appropriate decision making process. The managers must enhance all these skills for them to be effective and for the organisation to grow. Recommendations For an organisation to be effective the following must be doneAdvertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Ensure that the decision making process within the organisation is adequate and managers can be able to make rational decisions Ensure that workers are encouraged to work as a team Ensure that there a good communication channels within the organisation Ensure the managers and employees are well trained Ensure that the company has a good corporate culture which is geared towards employee and customer satisfaction Simon, H. A. Rational Decision Making in Business Organization. American Economic  Review, 69(4), 493-513. (1979). Good, D. and Yeganeh, B. â€Å"Cognitive Agility: Adapting to Real-time Decision Making at Work†. OD Practitioner, 44.2 (2012):13-17. Print. Woiceshyn, Jaana. â€Å"A Model for Ethical Decision Making in Businesss: Reasoning, Intuition, and Rational Moral Principles†. Journal of Business Ethics, 104.3. (2011): 311-323. Ibrahim, M. â€Å"Theory of bounded rationality†. Public Management, 91.5. (2009):3-5. Lunenburg, Fred. The Decision Ma king Process. National Forum of Educational  Administration and Supervision Journal 27.4 (2010): n. pag. Web. Radner, R. Costly and bounded rationality in individual and team decision-making. Industrial Corporate Change, 9(4), (2000): 623. Williams, Chuck. Chapter 5: Planning and Decision Making. Mgmt4. Mason, OH:  South-Western, 2012. 89-93. Print. Rykrsmith, E. (2011, November 15). Becoming a Better Influencer: 4 Most Effective  Influence Tactics (Part I) | The Fast Track. Web. McClelland, D. C. (1995). Power Is the Great Motivator. Harvard Business Review,  73(1), p. 125-139. Holmes, S. (2008, September 16). The 5 Most Important Influence Tactics For Leaders.  Web. Katzenback, Jon and Douglas Smith. The Discipline of Teams. Harvard Business Review, (1993): 162-171. Katzenbach, Jon and Smith, Douglas. The Wisdom of Teams: Creating the High- Performance Organization, Harper Business, 1993. Print. Stephen Robbins Timothy Judge. Chapter 10: communication. In, Essentials o f  Organizational behaviour (2009): 155-157.

Thursday, November 21, 2019

Maria Montessoris work Essay Example | Topics and Well Written Essays - 1250 words

Maria Montessoris work - Essay Example Her methods are so popular that they are in use today in nearly every industrialized nation. In 1896 Maria Montessori became the first Italian woman to become a Doctor of Medicine. She then worked at a psychiatric clinic with mentally handicapped children. She became interested in ways to improve the mental capabilities and performance of these children. Her methods were so promising that she was then named the head of an entire school for mentally handicapped children in Rome. She was so successful using her own special equipment that her children were able to learn so much that they were able to pass tests created for 'normal' children. In 1906 she was "promoted to working with disorderly children in a very poor section of Rome. With her same new equipment, she produced the same results as she had with the mentally handicapped children. Here she noticed that when the children chose and worked with the equipment themselves, they were extremely focused on the task. Out of this grew the Montessori Method, which stresses giving the child freedom in his own educational process (Botsford, 1993). One of the main tenets of Maria Montessori's educational reform was the idea that the child operates in far different ways than the adult. Thus, research into the development of the child was paramount in developing and justifying her programs. She concluded that the child's mind develops differently at different ages. She calls the age of birth to six years as that of the Absorbent Mind. From birth to age three the child simply absorbs his environment unconsciously and begins constructing his conscious mind from there (Botsford, 1993). From age three to age six, the child begins to construct his personality, which Montessori claims, depends upon an "environment in which he or she can act and learn freely, without adult intervention" (Botsford, 1993, p.3). Further, Montessori describes several periods of the child's growth that become sensitive periods during which the "child is capable of extraordinary leaps in learning of different skills and bodies of knowledge. It is essential that the child should be able to maximise his or her potential during these sensitive periods, in order to develop as a full human being" (Botsford, 1993, p.3). In order to do this effectively, Montessori began to research child psychology and psychoanalysis. Because most child psychology researchers of the time stressed observation as a key element in learning about the distinct nature of the child, she began observing children as they played and learned. One book was particularly influential in nurturing Montessori's theories; it was Donald Hebb's 1949 "The Organization of Behavior. This book concluded that the richness of the early environment significantly aided in developing skills in adult problem solving (Lilliard, 1972). Also instrumental in Montessori's research was Freidrich Froebel, a scientist who advanced the idea that every child had the potential to use his environment as a means of developing emotions and of learning (Lilliard, 1972). Froebel urged educators to dismiss the idea of educating young children formall and instead allow them to play and develop holistically. Dissatisfaction with current pressures to introduce chil dren to formal learning at an early age has led to a growth of interest in the ideas of Froebel and of other pioneers who wanted to preserve childhood as a time for play and holistic development (Froebel, 2006). Thus, the curriculum at a

Wednesday, November 20, 2019

Native Remains Essay Example | Topics and Well Written Essays - 750 words

Native Remains - Essay Example Bush, Congress passed the Native American Graves Protection and Repatriation Act† (Townsend and Nicholas 596 ), also known as NAGPRA. It is a federal law of the USA. Its purpose is to return the remains, artifacts, and all Native Americans’ sacred objects to Indian tribes. NAGPRA gives â€Å"Native American tribes the legal authority to reclaim artifacts from federally funded museums, colleges, and all types of institutions. What happens to the artifacts is then up to the tribe† (â€Å"Who should own Native American artifacts?†). As a rule, there are advantages as well as disadvantages of NAGPRA. The main achievement of NAGPRA is that it â€Å"resulted in immediate repatriation of the remains of many tribes’ ancestors† (Townsend and Nicholas 596). According to Riffe’s video, there is a belief that the spirit â€Å"does not abandon the body after the death†. It means that without proper burial ceremony the soul of a person will not be able to move on. â€Å"It can harm or be harmed by the living† (Riffe). Hundreds of Indian remains have been taken home and their descendants have fulfilled their duties. One of the most striking stories is the history of Cheyenne. Defenseless people were not only killed. They were â€Å"decapitated and their heads shipped back to Washington as freight† (Townsend and Nicholas 596). It was a real violation of all human rights. It resulted in a lot of sufferings for the relatives of the murdered Native Americans, who by 1990 have almost lost their hope to assure that their ancestors will find their resting places. The biggest problem was to find all parts of the body, because according to the Indian rules, only the whole body can be buried. Also, sacred artifacts, which were once made by their ancestors, were given back to Native Americans. Such objects are important, sometimes even indispensable, for different kinds of rites or rituals. But the process of returning is not as simple as it may seem. NAGPRA

Monday, November 18, 2019

HR Coursework Example | Topics and Well Written Essays - 250 words

HR - Coursework Example Despite the interpersonal relationship associated with face-to-face teams, there is no much difference between virtual teams as long as the essential elements of an effective team are considered and integrated into the team (HCI, 2014). The information gained from the article is of great importance when discussing the effectiveness of teams in the project team. First, the fact that sharing the same physical space does not guarantee the effectiveness of the team is very helpful. Also, comprehending that brainstorming should be done after each has worked on his or her own before sharing their ideas. This situation will help in avoiding wastage of time when burdened with a problem to solve because team members come while prepared. In addition, by learning that teams need to have effective communication and clearly defined roles and responsibilities will help in discussing the saliency of having direction and being objective as a team. Finally, the insight gained on the effectiveness of virtual teams will help in integrating the interests of those who are not able to share the same physical space during group meetings. While some firms are reaping big from the benefits of teams, others are not living up to their potential. For instance, IBM has experienced international success due to the adoption of effective team techniques. Nevertheless, organizations, such as Wal-Mart, can greatly benefit from the information presented in this article, especially the significance of virtual teams and diversity in

Friday, November 15, 2019

Analysis of Mittal’s Acquisition of Arcelor

Analysis of Mittal’s Acquisition of Arcelor 1.0 Executive Summary This examination of the merger of Arcelor and Mittal in the steel industry will examine the success and or shortcomings of this major deal that has created an industry leader that is considerably larger that its nearest competitor. In examination the merger, this study looks at the steel industry from the perspectives of historical underpinnings and ramifications, pricing, laws, monopolies, emerging markets, mature markets, new areas for exploration, as well as the resulting post merger effects of this union. To achieve the foregoing, this study has organised the foregoing into a comprehensive literature review that will delve into the indicated areas, following this with a findings and analysis section to equate the preceding. The organisational method has been selected to inform as well as guide one through the industry and the merger process to result in a clear understanding of the important and salient points that impacted the merger process, and its resultant effects on the industry. The conclusion brings forth the summary of all of the sections that preceded it to equate the results and potential areas for additional study owing to the newness of this union. The bold move by Mittal in acquiring a company if its same size and then moving forward as a unified new entity marks a new period in the steel industry worthy of examination as an history making event. 2.0 Introduction The purpose of this investigation is to delve into an understanding of the steel industry as the means to reach a determination as to the potential benefits and ramifications of the ArcelorMittal merger that is just about a year old. As such there is little in the way of case studies, and or historical data to equate the effect of the merger, this examination shall utilise historical as well as current information to understand the steel sector and thus draw deductions on the effectiveness of the merger in terms of competition, the industry and economic ramifications. The research question thus stems from the examination of the Mittal Steel and Arcelor merger, and how it developed, along with the advantages as well as disadvantages of the process in terms of the two companies. The Research Objective is to determine if the merger made ArcelorMittal a market leader in a highly competitive market, and the manner via which this was accomplished as well as if the foregoing brought about new opportunities, and or projects in terms of real ones, and or potentials for the future. The research hypothesis represents equating the impact of the Arcelor Mittal merger in terms of the industry dynamics in pricing, market positioning, competitive advantages, or other areas as uncovered by research to prove or disprove the basis for the merger as a sound proposition in the face of the preceding. To achieve the foregoing, this study shall look at the steel industry objectively through extensive research into its importance with regard to economics, trade, pricing within the industry, applicable laws, monopolies, the importance of emerging markets that might have weighed on the decision to seek a merger, the importance and or considerations of mature markets, and new locations of exploration and or supply. The approach to equating the foregoing was to conduct and extensive review of literature on the aforementioned points to provide a comprehensive view of the steel industry, where is has been, presently is, and is going. The preceding will provide a reference point to try to determine what the executives of Mittal saw in reaching the decision to attempt the Arcelor acquisition. That insight, their decision process to seek the acquisition of Arcelor, was based upon the company’s intimate knowledge and understanding of the steel sector, and a plan to capitalise on those developments based upon the projected future occurrences in the market. Donaldson and Lorsch (1983, p. 112) tell us that in strategic decision making executives must consider that: â€Å"Under certain circumstances, the firms real economic and financial constraints perpetuate stability in the financial goals system that is central to corporate strategy. The first such circumstance occurs when the composition and objectives of managements three primary constituencies remain constant over time. If the existing financial goals system truly represents a balanced response to each constituencys minimum acceptable requirements for continued participation in the enterprise, then external pressure for change is not likely to develop in the absence of some fundamental change in the constituencies themselves.† The decision to seek an acquisition as a means to growth represents a process that a company decided upon long before taking such an action. Wall and Wall (2000, p. 39) observe that â€Å"Companies that are using acquisitions as a strategic lever are rarely making only a single deal; acquisitions are ongoing and often overlapping, with several happening at once and more to come†. Mueller (2000, p. 57) states that most acquired companies were and are usually healthy strong firms in their own right that add some underlying competitive advantage in the face of market realities. He goes on to add that the rationales can be economies of scale, to obtain a more dominant market position, to gain access to markets, to stave off competition, to limit merger options of rival firms as well as a strategy for growth. Mueller (2003, p. 82) adds: â€Å"A company faced with a slow-growing or declining market has two choices for avoiding stagnation and decline: it can expand its share of this market, or diversify into new ones. Growth can be sustained indefinitely only through diversification. Thus, we expect the maturing company to resort to internal diversification by developing new products and/or external diversification through mergers. Even in a steady-state world, a company must (continually) diversify to sustain a growth rate above that of its company’s market.† Wall and Wall (20000, p. 39) add â€Å"†¦he most successful acquirers have developed a clear, logical, and replicable approach that they use to manage the entire process from initiation of the deal to the ongoing and longer-term development of the new organization post integration†. There is an integration process that accompanies every merger, where the rationales for preceding are thus put to the realities of the finalised merger process. This is where the decision to merge answers the questions, and or solves the issues that brought about the process in the first place. This study shall seek to equate the foregoing in the case of ArcelorMittal. 3.0 Literature Review This review of literature shall examine what has been written about the topical areas that are covered herein to gain a picture of the overall steel industry, the merger of ArcelorMittal, and the market factors inherent in the sector. The preceding shall seek to uncover the questions as posed the research objectives and find the answers to the research hypothesis 3.1 The Steel Industry Steel is the material that is the economic backbone of global economies, representing the prime material in building, infrastructure projects, refineries, vehicles, industrial as well as consumer goods. The recent emergence of new global players that have significantly increased their production and export capacities and thus has harkened a change in the international structuring of the industry whereby consolidation has become a critical component in competitiveness (D’Costa, 1999, pp. 11-12). China’s application and accession to the World Trade Organization has had major implications in terms of the global market as a result of the country’s modernisation programmes, cheap labour supply and interest in becoming a significant part of global production and export (ChinaDaily.com, 2007). The foregoing only adds to the rounds of consolidation in an industry where economies of scale in terms of raw materials as well as production are key foundational factors in a hi ghly competitive sector (Mangum et al, 1996, pp. 2-6). The above factors are important background aspects in the context of this study in that it is providing insight as to the status of the market. The aforementioned consolidation has been basically built upon the rounds of joint ventures that the industry seriously embarked upon during the mid 1980s in response to the need to tap emerging markets as well as areas of exploration for raw materials (Mangum et al, 1996, pp. 11-14). Steel, along with oil and uranium and a few other raw materials, represent concerted efforts and concerns by national governments and their important industry producers to ensure domestic strength in these sectors is maintained, owing to their importance in their economies (Visclosky, 1999). Restructuring within the steel industry is described by D’Costa (1999, p. 11) as â€Å"†¦an organizing concept to analyze capitalist development in general and reorganization of industrial capacity in particular†. He adds that (D’Costa, 1999, p. 11-12): â€Å"Restructuring also refers to the various ways by which a national industry adjusts to the capitalist imperatives of competition, profitability, market control, and national development (D’Costa 1989). More specifically, restructuring is viewed as a complex process by which the steel industry is evolving as a result of technological developments, corporate strategy, and government policies. With innovations and the diffusion of technology at the core of capitalist industrialization, restructuring of the steel industry globally can be conceptualised in terms of different national technological trajectories. By juxtaposing the factors that lead innovating countries like the US to fall behind technologically with the mechanisms by which late industrializing countries acquire technologies we can establish the uneven diffusion of technology and the process of restructuring.† The preceding represents an important understanding in this examination, as the traditional powers in the steel sector have been either challenged and or replaced by other companies / countries in the global sphere. Anwar (2006) presents an important summary overview of the steel industry that includes some of the foregoing factors, as well as providing additional insight areas: The increasing ramifications of industry volatility has been and is related to the levels of consolidation, the cyclical nature of the industry, along with the emergence of China as an important and critical player in the market. The importance of tapping into emerging growth markets has helped to fuel industry consolidation. China’s emergence as a consuming nation as well as producer  ¡, and its huge international market has caused a shifting in the strategic focus of the industry, and thus its companies. The heightened competition and cost variables of the industry help to explain the increased rounds of consolidation that in the interests of cost efficiencies utilises more supply chaining to set up production facilities in important developing countries, as well as close to natural steel resources. The consolidation as well as fragmentation of the global steel industry is amply illustrated in the following Chart: Chart 1 – Global Steel Industry (Anwar, 2006) The cyclical nature of the industry is caused by price significant drops due to the selling of steel at bargain prices as companies keep their production facilities running when industry sectors in certain countries are working off their own inventories (Matthews, 2007). It may sound illogical, but it is actually more cost effective to keep plants running as opposed to temporarily shutting them down and restarting again, even at the cost of dramatic price drops that occur in the process (Matthews, 2007). Consolidation has enabled important companies in the market to fend off competitors in their areas, and leverage their positions (Matthews, 2007). The rapid growth of China’s internal market, as well as upgrading of its steel production capabilities has significantly added to global tonnage output (Anwar, 2006). The heavy rounds of consolidation is in keeping with the regionalization of the international market as The North American Free Trade Agreement, that entails the United States, Canada and Mexico, competes with the European Union’s 25 countries, Mercosur that includes Brazil, Paraguay, Uruguay, and Argentina, and of course China, whose domestic market and size provides a market that is larger than almost all of these combined (UC Atlas, 2006). The significance of the foregoing is that these trade blocs represent associations that have been formed by the attending governments to aid in the management as well as trade promotion activities for their regions, and countries within these blocs (UC Atlas, 2006). The foregoing dynamics of globalisation thus helps to explain the consolidation that has been and is taking place in the industry. Figure 1 – Regional Trade Blocs / European Union (Europa, 2008) Figure 2 – Regional Trade Blocs / NAFTA (UC Atlas, 2006) Figure 3 – Regional Trade Blocs / MERCOSUR (UC Atlas, 2006) 3.2 ArcelorMittal In 2006 Arcelor one of the world’s biggest steel producers as represented by turnover and output, was acquired by Mittal for $31.9 billion USD in a deal that ended over five months of a hard fought takeover battle (White, 2006). Born out of a prior merger of Spain’s Aceralia, France’s Usinor, and Arbed of Luxembourg in 2002 (Reed, 2006), the acquisition by Mittal of Arcelor that was formed out of the preceding triumvirate is a further example of industry consolidation. The company, that consisted of in excess of 94,000 people in excess of 60 countries, was a major company in supplying the automotive, metal processing, construction, household appliance as well as general industry segments (wcbstv, 2006). Mittal Steel, which is based in Rotterdam, was the world’s largest steep producer in terms of volume prior to the merger, and still retains that title post merger, is a family controlled company by Chief Executive Officer Lakeshmi Mittal (ArcelorMittal, 2008a). The resulting company after the merger, ArcelorMittal, represents a concern that has â€Å"†¦ 310,000 employees in more than 60 countries† (ArcelorMittal, 2008b). The new company become the overall global leader in the automotive sector, construction industry, household appliance as well as packaging industries, along with becoming the leader player in technology as well as volume of steel produced (ArcelorMittal, 2008b). In terms of size, the new union creates a company that dwarfs the competition: Table 1 Largest Steel Companies (editgrid.com, 2007) Metal Bulletin’s top steelmakers of 2006 Millions of Tonnes Company Country 2006 2005 1Mittal Steel1 Netherlands 63.66 49.89 2Arcelor Luxembourg 54.32 46.65 3Nippon Steel Japan 33.7 32.91 4JFE Steel Japan 32.02 29.57 5Posco South Korea 31.2 31.42 6Shanghai BaosteelChina 22.53 22.73 7US Steel USA 21.25 19.26 8Nucor USA 20.31 18.45 9Tangshan China 19.06 16.08 10Corus UK 18.3 18.18 11Riva Italy 18.19 17.53 12Severstal Russia 17.6 15.16 13ThyssenKrupp Germany 16.8 16.55 14Evraz Russia 16.1 13.85 15Gerdau Group Brazil 15.57 13.7 16Anshan China 15 11.9 17Jiangsu ShagangChina 14.63 12.02 18Wuhan China 13.76 13.05 19Sumitomo Metal IndJapan 13.58 13.48 20Sail India 13.5 12.22 21Techint Argentina 12.83 11.42 22China Steel Corp Taiwan 12.48 11.65 23Magnitogorsk Russia 12.45 11.38 24Jinan China 11.24 10.43 25Maanshan China 10.91 9.65 26Laiwu China 10.79 10.34 27Shougang China 10.55 10.44 28Hunan Valin GroupChina 9.91 8.45 29Imidro Iran 9.79 9.41 30Ind Union/DonbassUkraine 9.52 8.55 The preceding Table has been utilised here to indicate that out of the top 30 steel companies globally, nine are located in China, with one in India and just three others coming from the European Union. The highlighted companies in colour have relevance in other sections of this study. The importance of the merger, as brought forth by the preceding discussion of the significance of regional trade blocs and national interests, is illustrated by the fact that at the time, then French President Jacques Chirac endorsed the union after the merger talks eased from being unfriendly to friendly in the face of certain guarantees concerning jobs as well as research operations (Noon, 2006). The new company represents 10% of the global market in steel and becomes a highly significant company for the European Union in the face of competition from and in China, as well as India, providing it with the resources and economies of scale to wrest deals from its rivals. 3.3 Pricing In terms of pricing, the steel industry is cyclical running through periods whereby supply exceeds demand, and then when demand exceeds supply. The recent trends has seen demand exceeding supply as steel prices have been inching upward since 2003 as China’s economy has begun to heat up, along with India taking steps to increase the demand in its economy for more products and production (domain-b.com, 2004). Table 2 – World Carbon Steel Transaction Prices (Steelonthenet.com, 2008) The preceding Table shows that upward movement that has and is making a new trend for the long embattled steel sector that had gone through heavy dumping in the 1990s as markets and the global recession dried up demand. But, that scenario seemingly looks like a thing of the long gone past, with China’s appetite just getting started, and India beginning its sit at the steel table. Prices are on the way up, as production capacity has remained relatively static with 1999 levels (DiCianni, 2007): Chart 2 – Steel Production Capacity (DiCianni, 2007) The upward trending in steel prices as a result of production capacity is reflected in the following Chart: Chart 3 – Steel Price Comparisons in Key Regions (DiCianni, 2007) The foregoing rise in steel prices is reflective of increased global demands as illustrated by the following: Table 3 – Global Steel Demand (DiCianni, 2007) The prognosis for increased prices is forecast by a broad consensus of industry analysts as caused by heightened production costs, and increased consumer demand as a result of growth markets (rediff news, 2007). Spot prices for ore are a prime contributor to the foregoing as prices have been on the increase since 2003: Chart 4 – Iron Ore Spot Prices (DiCianni, 2007) The preceding trend is highly different from the one facing the steel industry during the mid and late 1990s when too much capacity was the problem and steel prices dropped (Denoel et al, 2002). 3.4 Laws The rules governing trade laws is overseen by the World Trade Organization that also oversees the varied treaties its member nations make (WTO, 2008a). The principle tactic and the one that is subject to attention in terms of laws has been anti-dumping policies utilised by Japan as well as Russia and recently China in the early 1980s and 1990s to gain a footing in supplying steel when prices were depressed as a means to enter and secure contracts (WTO, 2008b). Dumping represents the selling of steel in foreign markets below what is charged in home markets in order to secure a foothold, and or longer term supply contracts to keep factories running (Scheurman, 1986). The anti-dumping provision has long been a measure whereby countries seek to prevent lower priced steel from competing with domestic producers and thus threatening their home markets (WTO, 2008b). An example of the foregoing is provided by Jones (2004, p. 23) in his book â€Å"Who’s Afraid of the WTO?†: â€Å"When steel imports from Japan and other countries surged in the United States in the wake of the crisis, however, it became a â€Å"trade problem, † and WTO rules prohibiting unilateral trade restraints as a stabilization tool by governments shifted blame over to the system of trade rules itself.† The laws on steel stem from this foundation, contained within World Trade Organization rules, thus it represents a confusing as well as under most circumstances self-servicing provision enacted frequently by the target country. The following provide illumination on the foregoing (Tarullo, 2002): â€Å"While not specifically proscribed by international agreements, dumping has been internationally identified as deserving of condemnation if it causes injury to an industry in the importing country. (2) U.S. law, since emulated by other countries, added to the definition sales below fully allocated cost of production, even where the price charged for the merchandise was the same as that in the importing country. Anti-dumping law generally provides for imposition of an additional import duty to equalize the price of the imported goods with the normal value, as calculated from foreign sales or from the cost of production. Most economists find the entire premise of anti-dumping law misguidedat least where there is no predatory intent or effectbecause it discourages some forms of price competition in some circumstances. Certain domestic interestsparticularly those in industries with high fixed costsare equally insistent that anti-dumping laws are necessary to protect them from forei gn producers suppressing prices by flooding domestic markets. The laws and regulations enacted by countries, which can be very complex, reinforce the suspicion of liberal traders that the laws are rigid, biased implementations of a misguided premise. Not surprisingly, disputes over imposition of dumping duties have been frequent. Exporting countries have often complained that, quite apart from the principle that dumping is bad, importing countries misuse their anti-dumping laws. The first code negotiated in the GATT to supplement the rules of the original GATT agreement was one that limited the use of anti-dumping measures. (3) New, more detailed agreements to limit national anti-dumping measures were included in both the Tokyo Round and Uruguay Round of trade negotiations. Meanwhile, use of anti-dumping measures had spread from the United States, European Union, and other industrialized countries to developing countries as well. (4) Thus, while international disagreements over dumping continue to pit some industrialized countries against Japan and many developing countries, the lines are not as clearly drawn as they were twenty years ago.† The fray over anti-dumping continues to dominate the steel sector, but the recent surge in demand is lessening such occurrences and companies scramble to ramp up production and meet increasing demand. This has been a significant tactic used in the market that could very well continue after the shakeout over which companies dominate in China as well as India settles in. 3.5 Monopolies Steel represents an important component in the health of national economies by virtue of the broad range of industries it supplies. Automotive, construction, appliances, equipment, industries machinery, pipes, plumbing and a host of other areas that underpin production are all industries that need steel. As such national interests step in, as indicated under regional trade blocks, whereby steel is akin to a national resource, in the securing of raw materials and finished output, thus the strengthening of company positions in the sector is a priority that regional and national governments seek and endorse, as evidenced by former French President Jacques Chirac’s positive comments on the Arcelor Mittal merger. From this stance, having too many producers, steel companies, weakens their position in the global market, and size enables them to introduce economies of scale in production and sales. Thus, monopolies simply are not a term that applies in this sector as a result of inten se global competition and national interests. In steel, bigger is better! Better for the steel company, national interests, domestic market supplies, and in terms of strength against their rivals. In the European Union, monopoly like status is not punishable as it is in the United States, as long as such does not harm the consumer or restrict competition (European Union, 2002). In the European Union a Monopoly is defined as (Europa, 2008): â€Å"Market situation with a single supplier (monopolist) who due to the absence of competition holds an extreme form of market power. It is tantamount to the existence of a dominant position. Under monopoly, output is normally lower and price higher than under competitive conditions. A monopolist may also be deemed to earn supra-normal profits (i.e. profits that exceed the normal remuneration of the capital). A similar situation on the demand side of the market, that is with a single buyer only, is called monopsony.† In other words, if the status of an extremely large company is not harming consumer markets and or increasing prices that are out of line with the normal costs of production, then, it is basically non actionable. The European Union’s actions against Microsoft were of a different nature in that Microsoft’s actions were restricting competition in the entire industry sector, and the company was convicted of unfair tactics (European Union, 2004). 3.6 Emerging Markets The merger of Arcelor and Mittal provided the new company with the size as well as clout to make a significant difference in emerging markets such as China due to its enhanced capabilities across all market and industry sectors (ArcelorMittal, 2008b). The foregoing increased size as well as capabilities also provides the new company with advantages in the high growth Indian market (ArcelorMittal, 2008b). The company announced immediately after its bid for Arcelor was accepted that the new plans call for boosting its presence in both the Chinese as well as Indian markets (EarthTimes, 2007). Lakshmi Mittal is of Indian decent, thus this new and larger company will provide him with increased presence in that market as a result of long standing contacts and the company’s enhanced capabilities (Forbes.com, 2007). As the world’s fifth richest person whose wealth is estimated as $32.0 billion that influence helps his aims in many areas (Forbes.com, 2007). Of particular interest is the discussion of the formation of a new regional trading block in Asia consisting of China, Japan, South Korea and India, a union that along with other countries would account for 20 percent of the world’s Gross Domestic Product, that would relegate the other major trading blocs and lesser players (Bergsten and Scollay (2001). The potential for such an arrangement has gained in strength since 2001, with increasing talks being held between China, South Korea and Japan (Asia Times, 2003). Increasing ties between China and India, as a result of the proposed cross border trade route would open up trading in the region and serve as the foundation for a new trading bloc (Hasan, 2006). The present trading Bloc, ASEAN, which was formed in 1967, consists of Indonesia, Malaysia, the Philippines, Singapore and Thailand, that represents a combined population of approximately 560 million (Association of Southeast Asian Nations, 2008). China, with its population of 1,321,851,888 (Rosenberg, 2007), along with India’s 1,027,015,247 people (indianchild.com, 2007), and Japan’s 127,288,419 (CIA World Factbook, 2007), would result in a combined trading bloc population of 2,476,155,554, or slightly more than one-third of the world’s total population of 6,602,224,175 (World Factbook, 2007a). That would dwar f the population counts of the European Union, 490,426,060 (World Factbook, 2007b), as well as NAFTA (446,078,489), with its U.S

Wednesday, November 13, 2019

Imagery of the Sea in Hurston’s Their Eyes Were Watching God and Seraph

Imagery of the Sea in Hurston’s Their Eyes Were Watching God and Seraph on the Suwannee â€Å"She Called In Her Soul to Come and See† Both Zora Neale Hurston’s Their Eyes Were Watching God and Seraph on the Suwannee act as accounts of female recognition. The two protagonists of the novels, Janie and Arvay, come realize the significance of personal enjoyment of life for one’s self, and how such an awareness causes you to be surrounded you with people who love you for your own happiness. In both novels Hurston uses literal and figurative imagery of the sea as a symbol for this self-affirmation. The connection is more pronounced with Arvay, as she and Jim finally return to one another while actually at sea, yet the connection runs with Janie throughout Their Eyes†¦ as well as both women struggle to reach their â€Å"horizons† of answers and satisfaction. The opening lines of Janie’s story consist of, â€Å"Ships at a distance have every man’s wish on board. For some they come in with the tide. For others they sail forever on the horizons†¦Ã¢â‚¬  These words suggest the necessity in life to endeavo...