The Problem Definition Stage

â€Å"The problem definition stage is perhaps more critical in the research process than the problem solution stage†. Discuss this statement. Answer: †¢ Finding the right solution to an incorrectly identified problem helps no one because the original concerns will still continue to exist. Hence, pinpointing where exactly the gap lies, for which a solution is needed, is critical. (5 marks) b. In your company’s management development program, there was a heated discussion between some people who claimed, â€Å"Theory is impractical and thus no good,† and others who claimed, â€Å"Good theory is the most practical approach to problems. What position would you take and why? Answer †¢ The statement that â€Å"theory is impractical and thus no good† illustrates a misconception of the true meaning of theory. †¢ The second quotation is more to the point: there is nothing so practical as a good theory (Kurt Lewin) because of the power it gives us to explain and predict the target phenomenon. †¢ We use theory constantly as we explain why certain events occur or why one procedure succeeds and another does not. †¢ Theory represents an identification of key causal relationships, which explain outcomes in a variety of situations.It is an effort to extract the essence of relationships, ignoring less important contextual factors. †¢ The adequacy of a theory comes from its capacity to explain phenomenon in a variety of contexts and situations and this is referred to as its capacity to â€Å"travel. † †¢ Often, theories are too simplistic, and therefore lack explanatory power across situations. †¢ The solution lies in improving the theory, possibly introducing more variables, rather than rejecting the central concept. . (10 marks) c. Sometimes business research may be unnecessary. Explain when this could occur.Answer: Business research may be unnecessary in several situations. †¢ If the value of add ressing the problem is less than the cost of the research, research is unnecessary. †¢ If the organization suffers from constraints of time, money, or skill, the research may not be appropriate. †¢ If the necessary information cannot be collected in a manner that is applicable to the research, it may not be necessary. †¢ Finally, if the decision is of low-risk anyway, research is unnecessary. (5 marks) d. Explain the meaning of deduction and induction. Provide an argument that exemplifies each form.Answer: †¢ Deduction is a form of argument that suggests a conclusion from the reasons given. The reasons imply the conclusion. A deduction is valid if it is impossible for the conclusion to be false if the premises are true. Consider the following example. o AXY employees receive a discount on all clothing purchases made at any AXY store. Sarah is an employee at the AXY store in city X. Sarah will receive a discount at any AXY store. †¢ Induction is different fro m deduction in that it draws a conclusion from one or more facts. However, other conclusions could be drawn from the facts.For example, Burger King was featured on an episode of the Apprentice. Sales figures increased in the two weeks immediately following the episode. The conclusion is that the brand placement resulted in the increase in sales. While this conclusion is possible, other explanations have not been eliminated. (10 marks) Question 2 A teacher observes that the performance of students in the class varies depending on the workload, the complexity of the tests, the extent of ambiguity in the assignments, and the stress experienced by them. She assigns to you the task of doing a research project on this and wants you to do the following: a.Give the project a suitable title; To investigate factors that affect students’ performance. b. Briefly establish why it is important to research the topic; It is important to research this topic since we would like to know how wor kload, complexity of the test, extent of ambiguity in the assignment and the stress experience do affect students’ level of understanding and thus affects their performance. c. Clearly and precisely write the problem statement; To what extent the factors such as workload, complexity of the test, extent of ambiguity in the assignment and the stress experience influence performance. . Develop a theoretical framework using the variables mentioned above, clearly delineating the network of associations among the variables Workload complexity of the test extent of ambiguity stress experience Performance ind. Var intervening var. dep. Var e. Introduce a moderating and an intervening variable in the framework, explaining how they moderate and intervene. Intervening variable = stress ecperience f. Develop three hypotheses Hypotheses 1The more workload given, higher complexity of the test and higher level of ambiguity will reduce students’ performance. Hypotheses 2 The more work load given, higher complexity of the test and higher level of ambiguity will increase more stress to the students Hypotheses 3 The higher the level of stress will lead to lower performance of students (20marks) Question 3 The new president of an old, established company is facing a problem. The company is currently unprofitable and is, in the president’s opinion, operating inefficiently.The company sells a wide line of equipment and supplies to the dairy industry. Some items it manufacturers, and many it wholesales to dairies, creameries, and similar plants. Because the industry is changing in several ways, survival will be more difficult in the future. In particular, many equipment companies are bypassing the wholesalers and selling directly to dairies. In addition, many of the independent dairies are being taken over by large food chains. How might business research help the new president make the right decisions? Sample answer: Many different studies might be helpful in th is situation.The most likely lines of investigation should be on: 1. the firm’s operating inefficiencies, and 2. its future prospects in the changing dairy industry. In the first case, the president might want to determine whether the inefficiency is caused by internal production problems, poor organization, ineffective cost controls, weak sales management, and so on. This might take the form of a company audit of internal processes. The examination of the industry and the firm’s future in it would likely be directed at discovering possible trends in consumption patterns and distribution systems.It might also entail polling the end user of the products to see if anything other than price is prompting them to buy directly from manufacturers. Having this information would allow the researcher to either support the president’s contention that inefficiency is the root problem, or rule it out. Further, it would allow him to determine such things as whether any overlo oked opportunities (markets) exist, if his company is the only one experiencing problems, if the trend is likely to reverse, and so on. (20 marks) Question 4 Evaluate the statement of the business problem in the following situations: a.A manufacturer of fishing boats: The problem is to determine sales trends over the past five years by product category and to determine the seasonality of unit boat sales by quarters by regions of the country. Answer: This is a relatively straight forward set of descriptive objectives for a secondary data study. The time period is indicated. Sales volume in units is indicated to be the variable of interest. By indicating unit boat sales, quarters as the time periods, regions of the country as the geographical units, the definition is specific. b. The marketer of a new spreadsheet software package: The purpose of this research is (1).To identify the market potential for the product, (2). To identify what desirable features the product should possess, a nd (3) To determine possible advertising strategies/channel strategies for the product. Answer: Although this is not a poor statement of the problem, it is too ambitious and it could be more specific. A major disadvantage of this problem statement is that it is too much for a single research study. Determining advertising and channel strategies, product features, and market potential indicate several distinct problems for a program strategy rather than a single project strategy. (10 marks)

The Importance and Application of Principles of Management in the Present Day Context

The aim of all good modern organizations is to reconcile the organizational purpose (whether this be profit for shareholders, or cost-effective services delivery, in the case of public services) with the needs and feelings of people (staff, customers, suppliers, local communities, stakeholders, etc) with proper consideration for the planet – the world we live in (in terms of sustainability, environment, wildlife, natural resources, our heritage, ‘fair trade', other cultures and societies, etc) and at all times acting with probity – encompassing love, integrity, compassion, honesty, and truth.Probity enables the other potentially conflicting aims to be harmonized so that the mix is sustainable, ethical and successful. [pic] Traditional inward-looking management and leadership skills (which historically considered only the purpose – typically profit – and the methods for achieving it) are no longer sufficient for sustainable organizational success. Org anizations have a far wider agenda today. Management Management is the process of reaching organizational goals by working with people and other resources.Or knowing what you want people to do, and then getting them to do it the best way. Managers must concentrate on reaching organizational goals, and they should use their resources to accomplish those goals. For many years the management process has been divided into principles, sometimes called functions. Some sources will state that there are five principles and others will say there are four. Here we will use four: planning, organizing, influencing, and controlling. Some people use decision making as a fifth principle, but we will use decision making as part of the planning process.Also, some use leading instead of influencing, but we like the term influencing better. Management is a continuing process, and managers are always involved in some way with these principles. These principles are designed to help managers accomplish o rganizational objectives, and good managers will use them. These principles are not isolated but are interwoven throughout the manager’s thoughts and actions. Managers must combine and coordinate these principles and must maximize their value to achieve their goals.Managers strive to be effective and efficient and these principles help them. These management principles are universal and applicable to all types of businesses and organizations The basic ideas regarding scientific management developed. They include the following: †¢ Developing new standard methods for doing each job †¢ Selecting, training, and developing workers instead of allowing them to choose their own tasks and train themselves †¢ Developing a spirit of cooperation between workers and management to ensure that work is carried out in accordance with devised procedures Dividing work between workers and management in almost equal shares, with each group taking over the work for which it is best fitted Principles of Management The principles of management derive their significance from their utility. They provide useful insights to managerial behavior and influence managerial practices. Managers may apply these principles to fulfill their tasks and responsibilities. Principles guide managers in taking and implementing decisions. It may be appreciated that everything worthwhile is governed by an underlying principle.The quest of the management theorists has been and should be to unearth the underlying principles with a view to using these under repetitive circumstances as a matter of management habit. [pic] The significance of principles of management can be discussed in terms of the following points: †¢ Providing managers with useful insights into reality: The principles of management provide the managers with useful insights into real world situations. Adherence to these principles will add to their knowledge, ability and understanding of managerial situations and cir cumstances.It will also enable managers to learn from past mistakes and conserve time by solving recurring problems quickly. As such management principles increase managerial efficiency. For example, a manager can leave routine decision-making to his subordinates and deal with exceptional situations which require her/his expertise by following the principles of delegation. †¢ Optimum utilization of resources and effective administration: Resources both human and material available with the company are limited. They have to be put to optimum use.By optimum use we mean that the resources should be put to use in such a manner that they should give maximum benefit with minimum cost. Principles equip the managers to foresee the cause and effect relationships of their decisions and actions. As such the wastages associated with a trial-and-error approach can be overcome. Principles of management limit the boundary of managerial discretion so that their decisions may be free from perso nal prejudices and biases †¢ Scientific decisions: Decisions must be based on facts, thoughtful and justifiable in terms of the intended purposes.They must be timely, realistic and subject to measurement and evaluation. Management principles help in thoughtful decision-making. They emphasize logic rather than blind faith. Management decisions taken on the basis of principles are free from bias and prejudice. They are based on the objective assessment of the situation. †¢ Meeting changing environment requirements: Although the principles are in the nature of general guidelines but they are modified and as such help managers to meet changing requirements of the environment.You have already studied that management principles are flexible to adapt to dynamic business environment. For example, management principles emphasize division of work and specialization. In modern times this principle has been extended to the entire business whereby companies are specializing in their co re competency and divesting non-core businesses. In this context, one may cite the decision of Hindustan Lever Limited in divesting non-core businesses of chemicals and seeds. Some companies are outsourcing their non-core activities like share-transfer management and advertising to outside agencies.So much so, that even core processes such as R&D, manufacturing and marketing are being outsourced today. †¢ Fulfilling social responsibility: The increased awareness of the public, forces businesses especially limited companies to fulfill their social responsibilities. Management theory and management principles have also evolved in response to these demands. Moreover, the interpretation of the principles also assumes newer and contemporary meanings with the change in time. So, if one were to talk of ‘equity’ today, it does not apply to wages alone.Value to the customer, care for the environment, and dealings with business associates would all come under the purview of this principle. †¢ Management training, education and research: Principles of management are at the core of management theory. As such these are used as a basis for management training, education and research. You must be aware that entrance to management institutes is preceded by management aptitude tests. Do you think that these tests could have been developed without an understanding of management principles and how they may be applied in different situations?These principles provide basic groundwork for the development of management as a discipline. Principles of Scientific Management In the earlier days of the Industrial Revolution, in the absence of an established theory of factory organization, factory owners or managers relied on personal judgment in attending to the problems they confronted in the course of managing their work. This is what is referred to as ‘rule of thumb’. Managing factories by rule of thumb enabled them to handle the situations as they arose but suffered from the limitation of a trial and error approach.For their experiences to be emulated, it was important to know what works and why does it work. For this, there was a need to follow an approach that was based on the method of science- Defining a problem, developing alternative solutions, anticipating consequences, measuring progress and drawing conclusions The Main principles of management applied today are: †¢ Division of Work: Work is divided into small tasks/jobs. A trained specialist who is competent is required to perform each job. Thus, division of work leads to specialization. Specialization produces more and better work with the same effort. Authority and responsibility: Authority is the right to give orders and the power to exact obedience. A manager has official authority because of her position, as well as personal authority based on individual personality, intelligence, and experience. Authority creates responsibility. †¢ Discipline: Discipl ine is the obedience to organizational rules and employment agreement which are necessary for the working of the organization. According to Fayol, discipline requires good superiors at all levels, clear and fair agreements and judicious application of penalties. Unity of Command: An employee should receive orders from only one superior. †¢ Unity of Direction: Organizational activities must have one central authority and one plan of action. †¢ Subordination of Individual Interest to General Interest: The interests of one employee or group of employees are subordinate to the interests and goals of the organization. †¢ Remuneration of personnel: Salaries – the price of services rendered by employees – should be fair and provide satisfaction both to the employee and employer. Centralization and Decentralization: The concentration of decision-making authority is called centralization whereas its dispersal among more than one person is known as decentralizatio n. The objective of centralization is the best utilization of personnel. The degree of centralization varies according to the dynamics of each organization. †¢ Scalar Chain: An organization consists of superiors and subordinates. The formal lines of authority from highest to lowest ranks are known as scalar chain. †¢ Order: Organizational order for materials and personnel is essential.The right materials and the right employees are necessary for each organizational function and activity. †¢ Equity: In organizations, equity is a combination of kindliness and justice. Both equity and equality of treatment should be considered when dealing with employees. †¢ Stability of tenure of personnel: To attain the maximum productivity of personnel, a stable work force is needed. †¢ Initiative: Thinking out a plan and ensuring its success is an extremely strong motivator. Zeal, energy, and initiative are desired at all levels of the organizational ladder. Esprit de corps : Teamwork is fundamentally important to an organization. Work teams and extensive face-to-face verbal communication encourages teamwork. Change management is a basic skill in which most leaders and managers need to be competent. When leaders or managers are planning to manage change, there are five key principles that need to be kept in mind: †¢ Different people react differently to change †¢ Everyone has fundamental needs that have to be met †¢ Change often involves a loss, and people go through the â€Å"loss curve† †¢ Expectations need to be managed realistically †¢ Fears have to be dealt withHow to apply the above principles when managing change: †¢ Give people choices to make, and be honest about the possible consequences of those choices. †¢ Where it is possible to do so, give individuals opportunity to express their concerns and provide reassurances – also to help assuage potential fears. †¢ Give people information â€⠀œ be open and honest about the facts, but don't give overoptimistic speculation. †¢ For large groups, produce a communication strategy that ensures information is disseminated efficiently and comprehensively to everyone (don't let the grapevine take over). Keep observing good management practice, such as making time for informal discussion and feedback (even though the pressure might seem that it is reasonable to let such things slip – during difficult change such practices are even more important). †¢ Give people time, to express their views, and support their decision making, providing coaching, counseling or information as appropriate, to help them through the loss curve. †¢ Where the change involves a loss, identifies what will or might replace that loss – loss is easier to cope with if there is something to replace it. This will help assuage potential fears.

Alice in Wonderland Essay Example for Free (#4)

Alice in Wonderland Essay As the Cheshire-Cat appears and sits on a limb of a tree with his grinning face while Alice is walking in the forest he explains to her that everyone in wonderland is mad even Alice, which is why she is there. Alice did not agree with the Cheshire-Cat but continued on her way to see the March Hare anyways. Being mad or crazy does not always make a person bad. In fact the Cheshire-Cat was right, all the people in Wonderland were indeed mad and they were all there for that reason. In every classic story there are good characters versus bad characters. In the book, Alice in Wonderland written by Lewis Carroll, there is no exception. The characters Alice, the White Rabbit, and the Cheshire-Cat are all positive characters in the story and the Queen of Hearts is the villain or the negative character in Wonderland. Positive characters can be identified in the story of Alice in Wonderland by their personalities and how each character interacts with one another. Lewis Carroll only made one distinctive negative character and the rest he made either positive characters or characters that are Just in the middle. Most of the characters in the ook are middle characters that do not have a good or bad sense of personality. Negative characters can be identified by color and personality as well. The Queen of Hearts for instance is represented by the color red with represents fury and anger. That describes the Queen perfectly. Alice is a positive character in the story of Alice in Wonderland. She is the main character of the story. Lewis Carroll does a good Job of portraying Alice as a young curious and well mannered lady. Youth and innocence can describe Alice as a positive character. Throughout the whole story Alice gets onfused quit easily when talking to the other people in Wonderland, the Mad Hatter and the Caterpillar especially. Although she is in an obscure and crazy world, Alice keeps her cool for the most part and tries to keep her senses. In the world of Wonderland, however, being sane is mad, which allows Alice to fit right in with the others (From Alice on Stage). The White Rabbit was made to contrast Alice in every way. He is timid, old, punctual, and often nervous. The White Rabbit can be seen as a positive character because he is white in color, also because he is somewhat helpful. Although he is shy and nervous he does not do anything that would make him be considered a negative character. I would say he is somewhat of a mediator, neither positive nor negative. The White Rabbit is significant in the story of Alice in Wonderland in order to understand Alice more (From Alice on Stage). Most unique of them all is the Cheshire-Cat. When Alice first comes across the Cheshire-Cat he is in the house of the Duchess and is grinning very widely. From the way he is first described I thought that he was going to be a negative character in the story. His grin seemed some what villainous and because he was mysterious led to the conclusion he was a negative character. After the book goes on the Cheshire-Cat is very calm and sensible in the mad world of Wonderland. He helps Alice when she need someone to talk to and when she has questions about Wonderland. The Cheshire-Cat is the most knowledgeable about Wonderland and fits right in when it comes to craziness (Spark Notes from Alice in Wonderland). Queen of Hearts. Some of the other characters have their moments of rudeness or snappy ways but none of them can be identified as complete negative characters esides the Queen of Hearts. When we first meet the Queen she comes into the yard yelling orders at everyone and being very rude. From the beginning you can tell that the Queen has anger and fury within her. Because she is red in color she can be identified as negative. Red usually has a bad connotation and is usually associated with anger and fire or fury. She makes irrational decisions, most of them affecting everyone but herself. Everyone in her court is afraid of her because she is known for prosecuting and beheading anything and anyone who gets in her way (From Alice on Stage). Of all the characters in Alice in Wonderland the Queen of Hearts and Alice are the most significant. I would not say that in this story there is a hero or villain, but Just positive and negative characters. A lot of the characters in the story were middle characters that had no sense of good or bad, they were Just mad. Everyone in Wonderland was mad, including Alice, that is why she ended up in Wonderland. Lewis Carroll defined each character using their personalities. The Queen of Hearts impatient, loud, and obnoxious and Alice is curious, sensible, and has a sense of uperiority. Alice in Wonderland. (2018, Nov 07).

Supporting Regulation of E-Cigarettes Term Paper

Supporting Regulation of E-Cigarettes - Term Paper Example intaining the effect of electronic cigarette smoking in the United States, in April 2014, Food and Drug Administration proposed regulations authority over electronic cigarettes that have risen in its use. The regulation will see consumption of Electronic cigarettes not being allowed on any public sites including over one hundred cities and in many organizations (Mowry et al, 2012). This policy has several effects on ethics as discussed below. As argued by Carter and Chapman (2006), control of use electronic cigarettes on public places (any place not below twenty meters from person next to you) aims at protecting non-smokers from the health effects that come from release of infective chemicals released after tobacco combustion. In this case, it is ethics to protect the passive party from harm that may be caused by the infective chemical exposed to the environment by the smoker. As presented by Fuoco Buonanno and Vigo (2014), Electronic cigarettes battery powered gadget produces an aerosol vapors composed of nicotine, glycoland propylene. Possibility of nicotine exposure considering Electronic cigarette gadget holding, inhaling the smoke produced, any skin contact when handling the Electronic cigarette device are the major health issues associated with electronic cigarette. This effect get worse in paces associated with children’s pregnant women’s as well as nursing mothers. It un-ethical to disrupt other people’s environment as it causes body problems. The burn of electronic cigarettes in public upholds ethics by controlling the risk that could have been imposed on passive smokers. The stakeholders in manufacturing argues that the vapor produced by powered electronic cigarettes device is water vapor but the responsible health group disagrees with this claims. The vapor produced by electronic cigarette gadget contain of nicotine, glycol and propylene (Richtel, 2014) which are harmful to consumer as well as to passive smokers. Publishing such a misleading

The Single European Market Essay Example | Topics and Well Written Essays - 750 words

The Single European Market - Essay Example The Single European Market While it can be argued that the single market was basically completed in 1992 following the enactment of various policies in place, much of the project is yet to be completed. Indeed, with the present challenges realized in the process, it is becoming more impossible to complete the Single European Market (Crouch, 2010). Efforts to realize the European single market continue to face a lot of challenges. Language barriers amongst the member countries continue to present a lot of challenges to the realization of a single unified market. Moreover, it is realized that different countries in Europe have varying levels of economic development and this presents a challenge to a single market creation. In this regard, different countries have different economic objectives hence the realization of a single market might not really become practical and unacceptable to all the member countries. The member countries of the EU are always in economic competition against each other. In this regard, these countries are at times forced to follow their own national visions and interests which totally go against the spirit of the realization of a single market. The national interests of the countries appear to be more important than the good of the EU. The directives of the EU toward the achievement of the single market are often interpreted to be blatant instructions on what should be done. As such, countries such as Britain have always ignored much of these instructions and adopted their own versions of economic development. For instance, it is much difficult for British companies to effectively compete with other companies from countries with lesser demands. The differences in populations have a lot of implications on the supply and demand for various goods and services in the region. A single market in this regard would put some companies at a disadvantage against others. Many of the EU’s member countries have sought various derogations from some aspects of the single m arket or restricted many of the reforms proposed. Moreover, the different consumption and stake in the oil industry affects the operations of the single market. In this regard, France with its huge stake in the oil industry has led to the removal of energy from the products in the European single market. While most of the member states of the EU follow different educational and professional standards, the mutual recognition of these qualifications in the region is always a challenge since some countries regard their standards as far much better than others. The operations and success of a single market requires a uniform sense of both monetary and fiscal policies across the region. In this regard, the adoption of a single currency was certainly a good direction towards this realization. However, given that some countries like the UK have not yet adopted the single currency, pure economic integration of the region becomes a great challenge. Such integration is certainly a prerequisit e toward the realization of a Single European Market. Of great challenge to the European single market is the enlargement of the EU. With a membership of 27 states, the region might face a lot of migration of workers from the poorest countries in Europe to some of the richest countries (Vickerman, 2002). In this regard, it was seen that such migrations would drastically affect the wage rates

The Curious Case of Benjamin Button Essay Example | Topics and Well Written Essays - 750 words - 1

The Curious Case of Benjamin Button - Essay Example According to the author, Mark Twain’s remark that it is a â€Å"pity that the best part of life came at the beginning and the worst part at the end† has inspired him to write a story, in which he experiments a character who ages in the reverse order (1). The movie differs from the story in many aspects but it retains the basic premise of the protagonist aging backwards. The film’s theme departs drastically from the perceived notions of a Hollywood movie and explores a novel concept, thus making its viewing a unique experience for the audience. The movie, with its poignant themes, profound philosophical ideas and portrayal of love, will remain etched in the viewers’ mind long after they have watched it. The basic reason for my choice of this movie for my final paper is that I have always felt a close personal affinity to the story, which conceptualizes a man aging backwards. This reversal in nature’s process brings very interesting and bizarre consequences in his life. The main reason for my fascination for the movie stems from the fact that as a child, I used to fantasize how cool it will be to grow younger rather than older. Basically, I have felt that being different from other people could be a thrilling experience, especially in the context of ageing. Besides, the whole concept of the movie is so romantic, appealing to the senses of compassion and benevolence in me, especially the tender love of his foster mother for Ben when he during his ‘younger’ stages as an ugly old person. Also, the story postulates many idealistic philosophies that have inspired positive attitudes in me since I saw it as a 16 year old. The story has bred an understanding that the dis advantages in a person must not be considered as shortcomings. It has also made me realize that people whose traits do not fit into mainstream notion also deserve the same rights and considerations as any other person in this world, because

A psychological disorder Essay Example | Topics and Well Written Essays - 500 words

A psychological disorder - Essay Example Disastrous events and life changing experiences can elevate our level of stress. While many people deal with this day to day stress without medical intervention, it may have a long-term connection with cancer or heart disease (Myers 539,544). Intense feelings of stress are known as anxiety disorders. They seem to have no rational cause and leave a person agitated and out of control of their emotions. The anxiety disorders are further broken down into sub groups that include phobias and panic disorder. These cases of extreme anxiety are treated through conditioning and medication. Depression may be viewed as similar and may be confused with anxiety. While anxiety is the uneasy feeling in regards to a future event, depression is a reaction to a past event (Myers 646). While these feelings may be normal, they become a disorder when they are unrealistic and begin to impede a person's normal activities. Depression is not an abnormal feeling, but when it reaches an ongoing and insidious level, a professional should treat it. There are many modern medications that address both anxiety and depression. More severe forms of psychological disorders are seen in schizophrenia and dissociative disorders. In the former, the mind may be severely disorganized. The victim may suffer from delusions and inappropriate emotions.

Organsiation behavior Essay Example | Topics and Well Written Essays - 2000 words

Organsiation behavior - Essay Example However, what is easy to assume is that any organization is extremely dependent on its people. Without people a company would not be able to exist or operate. So, it can be said that people are one of the most important assets of a business, because people are the ones who perform such organizational activities as planning, producing goods or services, and managing operations, among others. For that reason it can be easily understood that companies strive for the best talent. However, outstanding professional skills of an individual are not enough for one to be effective in an organization. In order for an individual to work in line with the company, one must have values and goals similar to those of the company. This forms a feeling of belonging to an organization, which is called organizational identification (Gemmiti 2008, 6). This particular phenomenon is the major topic of this paper. In particular, the goal of the given work is to examine what specifically the concept of organi zational identification entails, as well as how it is related to employees’ job performance, commitment, and CSR activities carried out by a company. Body Dutton, Dukerich and Harquail (1994, 240) present a deep analysis of the concept of organizational identification. ... As it was already stated, organizational identification refers to individual’s knowledge of belonging to an organization. In particular, as Gemmiti (2008, 6) outlines, organizational identification implies employee’s being psychologically and emotionally bound to a group of people that make up the organization. This psychological attachment is, then, expressed in employee’s showing certain types of behavioural patterns, including job commitment and improved performance. Furthermore, since organizational identification involves person’s belonging to a group, the individual is likely to show mostly positive behaviours if organizational identification is strong. This is expressed in positive word-of-mouth publicity supported by the individual and, as Bartels (2006, 1) stresses out, in-group favouritism. So, strong and positive organizational identification of employees ensures that people support the organization in all the aspects of its operations. It is, t hus, also true in relation to acceptance of changes and innovations, as well as lower absenteeism and turnover rates. The perception of self and the general self-concept of a person with positive organizational identification are modified as the person’s goals get aligned with organizational goals and values (Meyer, Becker, and Van Dick 2006, 665). So, it can be said that the person-organization interaction is two-sided. While organizational identification of an individual impacts the overall performance of a company, company’s values and strategies, in their turn, influence individual’s self-perception. For that reason it is important for companies to develop their

Management Strategy and Decision Making Case Study

Management Strategy and Decision Making - Case Study Example The decline in consumption of manufactured products is the biggest reason. Paper is being replaced by electronic impressions. The majority of tasks performed in schools and offices have shifted towards soft copies instead of solid paper. Moreover, environmentalists have seized this opportunity by promoting electronic formats of books. So people don’t need to cut trees for paper. High Australian dollar, labour rate, and different regulations in other countries have made it hard for Australian manufacturers to keep up with the international competition. The pulp and paper industry is highly competitive. Developing, selecting and retaining organizational routines, is a comprehensive strategy for winning. The key drivers of profitability in the pulp and paper manufacturing industry include environmental, competition, market share, export legislation, environmental laws, recycling laws and export prices. The case states that over the past years Australian exports declined by $128 million due to falling export prices. There will be a very narrow margin for profitability in the future. The pulp and paper industry will face difficult time in the next five years. Increased environmental protection legislation will make it difficult for them to operate profitably. Only environmental hazard is not the only threat, people find it more convenient to have smart phone or tablet in their hand that can store thousands of books and documents, instead of carrying kilograms of paper. Pulp and paper manufacturers of Australia face even harsher challenges as increased competition from around world drives their profits down and captures their market share, while the Australian manufacturers are restricted due to strict legislations. Gunns should only enter this industry if they can ensure significant investment in technology to come up with cleaner and safer operations processes. The company should have a concrete plan (preferably the company

Determination Of The Relative Composition Of a Mixture Solution Essay Example for Free

Determination Of The Relative Composition Of a Mixture Solution Essay To determine the relative composition of a mixture solution containing sodium ethane-1, 2-dioate and ethane-1, 2-dioic acid. INTRODUCTION Potassium permanganate KMn is a strong oxidizing agent which reacts with reducing agent ethanedioate ion to give and C + 2 Mn+ 16 2+8+10 Sodium hydroxide (NaOH) reacts with acid to give water . the reaction is shown with the following equation + To investigate the relative composition of the mixture solution, it has to be titrated with NaOH first with phenolphthalein as indicator and then with acidify KMn as Mn react with both compound. KMnhas to be acidified first, otherwise brown ppt of Mn is formed instead of 2 H2O + MnO4- + 3 e- à ¯Ã‚ ¿Ã‚ ½ Mn+ 4 In addition to that, the reaction solution has to be warmed to about 70 as the reaction rate is very slow. MATERIALS AND APPARATUS beaker measuring cylinder. Safety spectacles beaker conical flask pipette ,25 burette ,50, and stand wash bottle white file electrical heater sulphuric acid Potassium permanganate KMn solution Mixture solution PROCEDURE 1. 25.00of the mixture solution was transferred into a 250conical flask using a pipette rinsed by distilled water and the mixture solution 2. The burette rinsed by distilled water and NaOH is filled with NaOH 3. Titrate the mixture solution with 0.1M NaOH solotuion using phenolphthalein as indicactor 4. Until the solution turns pink, result is recorded in table 1 5. About 25.00of 1M sulphuric acid (using measuring cylinder) is added to the conical flask . 6. The mixture is then heated by electrical heater to at least 70. 7. The heated mixture is then titrated with 0.02M Potassium permanganate KMn until a permanent pink colour is observed 8. Record the result in Table2 RESULT Table 1 Titration result of mixture solution against NaOH Trial 1 2 3 Final burette reading 15.4 27.3 39.0 12.8 Initial burette Reading 3.1 15.4 27.3 1.0 Volume of NaOH Added 12.3 11.9 11.7 11.8 Mean Volume of NaOH added ( 11.7+11.8+11.9) /3 =11.8 Table 2 Titration result of mixture solution against KMn Trial 1 2 3 Final burette reading 35.0 26.4 45.5 40.6 Initial burette Reading 16.3 7.1 26.4 21.4 Volume of NaOH Added 18.7 19.3 19.1 19.2 Mean Volume of NaOH added ( 19.3+19.1+19.2) /3 =19.2 CALCUALTION Equation involved in the reaction between NaOH and mixture solution: + +Na(aq) Mole ratio of NaOH:=2:1 = =11.8/10000.1/2 =5.9xmol Molarity of = 5.9X/(25/1000) =2.36 x M + 2 Mn+ 16 2+8+10 Mole ratio of : Mn=5:2 = =519.2/10000.02/2 =9.610^-4 mol Mole of sodium ethane-1,2-dioate = 9.6x-5.91 l = 3.7 x mol Molarity of sodium ethane-1,2-dioate in mixture = 3.7 x/(25/1000) =1.48xM DISCUSSIONS CHOICE OF INDICATORS Phenolphthalein is used as indicator in the reaction between Sodium hydroxide and ethane-1, 2-dioic acid because the reaction involves a weak acid titrated against a strong alkali. REASON FOR HEATING THE MIXTURE SOLUTION The rate reaction between and Mn is very slow as there is repulsion between anion. REASON FOR HEATING MIXTURE SOLUTION IN THE CONICAL FLASK INSTEAD OF MN IN THE BURETTE Aqueous solution of Potassium permanganate KMn is unstable and can easily be decomposed. The decomposition is accelerated by heat. If it is put in the conical flask and heated, it will easily oxidize water to oxygen and the amount of KMn is therefore decreased. 4Mn 4Mn +3 In addition, if hot Potassium permanganate solution is added to the burette, it may cause expansion of burette, causing inaccurate measurement. END POINT The end-point is not very permanent because if the Mn ion is in large excess, the following reaction occur: 2 Mn+3+ 2 +4 DECOPOSITION OF POTASSIUM PERMANGANATE Potassium permanganate is easily decomposed and the decomposition is speed up by light, heat, acids, base, reducing agent in air such as hydrogen sulphide gas, , , and even by the end-product Therefore, it should be stored in brown bottle and should be standardized before use. ABSORPTION OF WATER BY SODIUM HYDROXIDE sodium hydroxide absorb water from air. The volume of solution increase, and hence cause a decrease in concentration, causing inaccurate calculation CONCLUSION The concentration of sodium ethane-1,2-dioate is 1.48xM while ethane-1, 2-dioic acids is 2.36 x M

Introduction To Cricket In The 21st Century History Essay

Introduction To Cricket In The 21st Century History Essay When considering the extensive amount of research that has been directed toward the sporting world from a mathematical, statistical and operational research perspective, the Duckworth/Lewis method (Duckworth and Lewis, 1998, 2004) perhaps stands alone as the most significant contribution to sport. The common practice in dealing with interrupted one-day cricket matches until 1992 was to compare the run rates (the total number of runs scored divided by the number of completed overs) of the competing teams; the team with the higher run rate was declared the winner. However, this rule tended to benefit the team batting second (Team 2) at the expense of the team batting first (Team 1), leading to the common practice of inviting the other team to bat first if rain was expected. The difficulty with run rates is that targets are determined by taking the remaining overs into account, while ignoring the number of lost wickets. As is well known, batsmen tend to bat less aggressively and score fewer runs when more wickets have been taken. The first team does not have the same strategic options as the second team and, in that sense, the rule does not provide both teams with equal opportunities. Realising that this rule is biased towards the side batting second, the Australian Cricket Board introduced its most productive overs rule during the 1992/93 season. This rule calculates the target for Team 2 by taking the n highest scoring overs of Team 1 where n is the number of played overs (for example, 40 if 10 overs are lost due to rain). Ironically, this rule was now considered as tending to favour the side batting first and transparently unfair to the team batting second. To illustrate, Suppose that Team 2 requires 20 off 19 balls to win, when a short shower takes three overs away. The reset target would now be 20 off 1 ball since the three least productive overs are deduced from the original target (which we may believe were three maiden overs in this case). However, this seems to be unfair and even ironic: the second teams excellent bowling (three maiden overs) in the first innings is now turning against them; it would have been better for Team 2 in this case if Team 1 had reached the same total score without any maidens. The Duckworth/Lewis method was utilised and gained prominence during the 1999 World Cup, and since that time, it has been adopted by every major cricketing board and competition. In one-day cricket, the Duckworth/Lewis method is based on the recognition that at the beginning of a match, each side has resources available (typically 50 overs and 10 wickets). When the match is shortened, the resources of one or both teams are reduced and the two teams usually have different resources for their innings. In this case, in an attempt to be fair, a revised target for the team batting second is set. The determination of the target using resources is known as the Duckworth/Lewis method. What makes the adoption of the Duckworth/Lewis method remarkable is that the method is widely perceived by the public as a black box procedure. Generally, people do not understand how the targets are set but they do agree that the targets are sensible or at least preferable to the approach based on run rates. Although the Duckworth/Lewis (D/L) method was designed for one-day cricket, it has also been applied to Twenty20 cricket. Twenty20 is a relatively new version of limited overs cricket with only 20 overs per side. In contrast to the one-day game and first-class cricket (which can take up to five days to complete), Twenty20 matches have completion times that are comparable to other popular team sports. With the introduction of the biennial World Twenty20 tournament in 2007 and the Indian Premier League in 2008, Twenty20 cricket has gained widespread popularity. Although Twenty20 (t20) cricket is similar to one-day cricket, there exist subtle variations in the rules (e.g. fielding restrictions, limits on bowling, etc) between the two versions of cricket. The variations in the rules, and most importantly, the reduction of overs from 50 to 20 suggest that scoring patterns in t20 may differ from the one-day game. In particular, t20 is seen as a more explosive game where the ability to score 4s and 6s is more highly valued than in one-day cricket. Since the D/L method (and its associated resource table) is based on the scoring patterns in one-day cricket, it is therefore reasonable to ask whether the D-L method is appropriate for t20. With the rise of Twenty20, an investigation of the D/L method applied to t20 is timely. Up until this point in time, such an investigation might not have been possible due to the dearth of t20 match results. Now analysts have at their disposal nearly 200 international matches, and through the use of efficient estimation procedures, the question may be at least partially addressed. Also, since t20 matches have a shorter duration, to date, few matches have been interrupted and resumed according to D/L. Consequently, if there is a problem with D/L applied to t20, it may not have yet manifested itself. This was true before the third editon of the World t20 in May 2010 when a controversial outcome occurred in a game between England and the West Indies. The criticism directed at the usage and appropriateness of the method by players, commentators and fans provide sufficient motivation to adjust the table in this project. In Section 2, the construction of the Duckworth/Lewis resource table is reviewed as well as its effective inception relative to past rain rules. Some comments are provided on aspects of the table and the limitations of the method. In Section 3, an alternative Twenty20 resource table is obtained using a non-parametric approach based on Gibbs sampling. The data used in the construction of the new table consist of all international Twenty20 matches to date involving Test-playing nations as recognised by the International Cricket Council (ICC). The project concludes with a short discussion in Section 4. A heat map is provided to facilitate comparisons between the two tables. 2. For their eyes only: Evaluation of the current method and its appropriateness A condensed version of the Duckworth/Lewis resource table (Standard Edition) is shown in Table 1 (taken from the ICC Playing Handbook 2008-09). In an uninterrupted innings of one-day cricket, a team starts batting with maximum resources available, equivalent to 50 overs and zero wickets taken. Reflect now on a one-day match where Team 1 scores 276 runs at the end of its 50 overs, as a simple example of the use of the Duckworth/Lewis resource table. Before Team 2 has a chance to start their chase of Team 1s total, it rains and they only receive 30 overs for their innings. A look at the resource table shows that Team 2 has only 75.1% of their resources in hand and, consequently, their target for winning the match is set at 276(0.751)=208 runs. Contrast the Duckworth/Lewis target with the unreasonably low target of 276(30/50)=166 runs based on run rates. Table 1. Abbreviated version of the Duckworth-Lewis resource table (Standard Edition) Overs available Wickets lost 0 1 2 3 4 5 6 7 8 50 100.0 93.4 85.1 74.9 62.7 49.0 34.9 22.0 11.9 40 89.3 84.2 77.8 69.6 59.5 47.6 34.6 22.0 11.9 30 75.1 71.8 67.3 61.6 54.1 44.7 33.6 21.8 11.9 25 66.5 63.9 60.5 56.0 50.0 42.2 32.6 21.6 11.9 20 56.6 54.8 52.4 49.1 44.6 38.6 30.8 21.2 11.9 10 32.1 31.6 30.8 29.8 28.3 26.1 22.8 17.9 11.4 5 17.2 17.0 16.8 16.5 16.1 15.4 14.3 12.5 9.4 1 3.6 3.6 3.6 3.6 3.6 3.5 3.5 3.4 3.2 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 The table entries indicate the percentage of resources remaining in a match with the specified number of wickets lost and overs available. The D/L method has several advantages, which make it undoubtedly preferable to all previously used retargeting rules: completeness (it is able to handle all kinds of interruptions, even multiple interruptions and other unusual situations); the underlying mathematical model is internally consistent; tables are easily accessible/the computer programme is user-friendly; and the method compared to previous rules preserves the chance of winning by providing a relatively realistic reset target. Duckworth and Lewis (1998) only make available incomplete information relating to the creation of the resource table. Nevertheless, they do reveal that the table entries are based on the estimation of the 20 parameters Z0(w) and b(w), w=0, †¦, 9 corresponding to the function where Z(u,w) is the average total score obtained in u overs in an unlimited overs match where w wickets have been taken. While the utility of the Duckworth/Lewis table in one-day cricket cannot be questioned, a number of questions arise based on (1) and the estimates found in Table 1: Is (1) the best curve when considering that there are several parametric curves that could be fit? Is there any benefit in using a non-parametric fit to derive the table entries? The function (1) refers to unlimited overs cricket but is formed from a basis of one-day rules. Since one-day cricket is limited overs cricket, is there an advantage in taking the structure of the one-day game into account? How are the parameters estimated? If the 10 curves corresponding to w=0, †¦, 9 are fit separately, there are little data available beyond u=30 for fitting the curve with w=9. Also, the asymptotes for the curves with w=0,1,2 (see Figure 1 of Duckworth and Lewis (1998)) fall beyond the range of the data. In Table 1, the last two columns have many identical entries going down the columns. Although very few matches occur under these conditions, is it really sensible for resources to remain constant as the available overs decrease? This is a consequence of the asymptote imposed by (1). Although the D/L method maintains the margin of victory, it does not preserve the probability of victory. The resource table employed by the D/L method, and throughout its several updates, is based on detailed information from a large number of first innings scoring patterns. Therefore, the method assumes that the expected proportion of overall scoring for a particular over when a given number of wickets have been lost is the same in both innings. The validity of this assumption (that scoring patterns are the same in both innings) can be questioned. It has been found that there are a greater relative proportion of runs scored in the early and late overs of second innings, than in the first innings. The rule assumes that run-scoring accelerates right from the beginning of the innings so that runs come at a faster rate for every over completed; an exponential relationship between runs and overs is assumed. Although this captures the fact that run-scoring accelerates at the end of an innings, the moment of stabilisation somewhere after the relaxing of fielding restrictions is overlooked. 50 overs has been the standard format for a One-day International (ODI) for so long (over 20 years) that there is a period between the end of the fifteenth over and the start of the 41st where the batting side keep the scorecard ticking over through nudged and nurdled singles whilst the fielding side are perfectly happy to concede. Furthermore, no consideration is given to powerplay overs in which fielding restrictions are in place. Losing two overs during a period of fielding restrictions reduces a teams resources more than when a team loses the same couple of overs somewhere between, say, overs 25 and 30. The D/L method does not reflect the fact that the first period has a much higher run-scoring capacity than the second. The asymmetry between the equations for resetting targets impairs the quality of impartiality and may even lead to strategic options which are not equally open to both teams. When the target is large and Team 2 forsees a substantial reduction of its innings, Team 2 could take the strategic option to keep as many wickets as possible in hand, even if the scoring rate is less than required: a score of 99/1 (or 110/2, 123/3†¦) after 25 overs in the second innings against a target of 286 for 50 overs would win if no further play is possible. This distorted result is not merely due to the scaling of limited early data but also stems from an idealised assumption of how batting sides deploy their resources during an innings. The D/L method, like other (target) prediction algorithms, tries to fit historical data into a function curve, and uses this to predict future match states. Although this approach is generic and scales well, the specificity of the match is lost. For example, say in two instances a match is interrupted in the first innings with the score at 100/3 after 25 overs. The prediction (extrapolation) for both the matches will be the same. However, if one of the teams were 90/0 after 15 overs and the other team were 40/3 at the same stage, it is highly probable that the second team would have gone on to score more than the first. 3. Turn the tables: A new model for Twenty20 matches For ease of discussion, it is convenient to convert the Duckworth/Lewis resource table to the context of Twenty20; the resource table is shortened to 20 overs and the entries scaled so that an innings beginning with 20 overs and zero wickets corresponds to 100% resources. Table 2 gives the full Duckworth/Lewis resource table (Standard Edition) for Twenty20 where the entries are obtained by dividing the corresponding entry in Table 1 by 0.566 (the resources remaining in a 1-day match where 20 overs are available and zero wickets taken). Table 2. The Duckworth/Lewis resource table (Standard Edition) scaled for Twenty20 Overs available Wickets lost 0 1 2 3 4 5 6 7 8 20 100.0 96.8 92.6 86.7 78.8 68.2 54.4 37.5 21.3 19 96.1 93.3 89.2 83.9 76.7 66.6 53.5 37.3 21.0 18 92.2 89.6 85.9 81.1 74.2 65.0 52.7 36.9 21.0 17 88.2 85.7 82.5 77.9 71.7 63.3 51.6 36.6 21.0 16 84.1 81.8 79.0 74.7 69.1 61.3 50.4 36.2 20.8 15 79.9 77.9 75.3 71.6 66.4 59.2 49.1 35.7 20.8 14 75.4 73.7 71.4 68.0 63.4 56.9 47.7 35.2 20.8 13 71.0 69.4 67.3 64.5 60.4 54.4 46.1 34.5 20.7 12 66.4 65.0 63.3 60.6 57.1 51.9 44.3 33.6 20.5 11 61.7 60.4 59.0 56.7 53.7 49.1 42.4 32.7 20.3 10 56.7 55.8 54.4 52.7 50.0 46.1 40.3 31.6 20.1 9 51.8 51.1 49.8 48.4 46.1 42.8 37.8 30.2 19.8 8 46.6 45.9 45.1 43.8 42.0 39.4 35.2 28.6 19.3 7 41.3 40.8 40.1 39.2 37.8 35.5 32.2 26.9 18.6 6 35.9 35.5 35.0 34.3 33.2 31.4 29.0 24.6 17.8 5 30.4 30.0 29.7 29.2 28.4 27.2 25.3 22.1 16.6 4 24.6 24.4 24.2 23.9 23.3 22.4 21.2 18.9 14.8 3 18.7 18.6 18.4 18.2 18.0 17.5 16.8 15.4 12.7 2 12.7 12.5 12.5 12.4 12.4 12.0 11.7 11.0 9.7 1 6.4 6.4 6.4 6.4 6.4 6.2 6.2 6.0 5.7 The table entries indicate the percentage of resources remaining in a match with the specified number of wickets lost and overs available. To build a resource table for Twenty20 (t20), it is imperative to consider the scoring patterns specific to the shortest version of the game. Hence, consider the 141 international t20 matches involving ICC full member teams that have taken place from the first in 17 February 2005 through to 14 January 2011 (details of these matches can be accessed from ESPN Cricinfo). The shortened matches where the Duckworth/Lewis method was present have been excluded along with the t20 matches involving non-test playing nations (ICC Associates); the latter disqualification is in place to ensure matches are of a consistently high standard. Since scoring patterns in the second innings show a level of dependency to the number of runs scored by Team 1, consider first innings data only in the examination of t20 scoring patterns. Note that in their development of a simulator for one-day cricket match results, Swartz et al (2009) consider batting behaviour in the second innings. Match summary results are obtainable from ESPN Cricinfos statistics website but this study calls for ball-by-ball data. For this, Stephen Lynch (statistician) took pains to compose the associated commentary log for each match and store the data in a tabular form for easy access. For each match, define z(u,w(u)) as the runs scored from the point in the first innings where u overs remain and w(u) wickets have been taken until the conclusion of Team 1s innings. Calculate z(u,w(u)) for all values of u that occur in the first innings for each match beginning with u=20 and w(u)=w(20)=0. Next calculate the matrix T=(tuw) where tuw is the estimated percentage of resources remaining when u overs are available and w wickets have been taken. Calculate (100%) tuw by averaging z(u,w(u)) over all matches where w(u)=w and dividing by the average of z(20, 0) over all matches; the denominator is the average score by a side batting first in a t20 match. In the case of u=0, set tuw=t0w=0.0%. Table 3 displays the matrix T, an initial attempt at a resource table for t20. Note that t20,0=100% as desired. Although T is a non-parametric estimate of resources and makes no assumptions concerning the scoring patterns in t20, it is less than ideal. First, there are many table entries where there are missing data for the given situation. In addition, Table 3 does not exhibit the monotonicity expected. Logically, there is a requirement for a resource table that is non-decreasing from left to right along rows and a requirement for a resource table that is non-decreasing down columns. Also o bserve some conspicuous entries in Table 3, particularly the entry of 110.2% resources corresponding to 19 overs available and two wickets taken. This entry is clearly misleading and should be less than 100%. It arises due to the small sample size (three matches) corresponding to the given situation. For this non-parametric resource table (upcoming), the estimation procedure is robust to observations based on small sample sizes as the surrounding observations based on larger sample sizes have greater influence in the determination of the table. Therefore, there is retention of conspicuous observations such as 110.2%. This investigation of Duckworth/Lewis in Twenty20 should be viewed as one of discovery rather than an attempt to replace the Duckworth/Lewis table. Table 3. The matrix R=(r ow) of estimated resources for Twenty20 Overs available Wickets lost 0 1 2 3 4 5 6 7 8 20 100.0 19 93.6 83.0 110.2 18 90.4 85.8 78.3 17 86.7 80.5 82.8 53.7 16 81.7 74.5 81.9 70.7 32.8 15 76.5 71.4 71.5 65.9 59.9 14 68.3 69.1 67.6 66.2 58.4 13 63.8 68.2 62.4 62.9 59.0 24.3 12 62.1 62.3 60.6 57.3 58.8 44.1 11 60.5 56.3 57.0 53.6 61.0 39.7 10 57.6 49.6 52.1 52.8 48.1 38.6 41.0 35.2 9 54.9 52.1 43.6 49.0 44.1 33.8 35.0 29.7 8 51.0 46.4 41.7 42.2 41.2 36.7 27.5 28.7 7 48.6 45.8 38.9 35.9 39.1 34.8 24.1 25.5 6 54.0 37.9 36.6 30.3 36.2 31.3 20.9 21.4 26.7 5 44.0 32.5 25.4 28.7 29.4 23.9 17.1 14.9 4 28.2 23.4 22.5 22.2 20.9 14.3 10.6 3 20.6 19.9 16.9 17.8 15.8 12.4 7.6 2 21.2 17.6 11.9 13.4 10.6 11.0 7.2 1 8.7 5.2 7.3 6.0 5.5 6.0   The table entries indicate the percentage of resources remaining in a match with the specified number of wickets lost and overs available. Note: Missing entries correspond to match situations where data are unavailable. To impose the monotonicity constraints in the rows and columns, refer to the general problem of isotonic regression. For these purposes, consider the minimisation of with respect to the matrix Y=(yuw) where the double summation corresponds to u=1, †¦, 20 and w=0, †¦, 9, the quw are weights and the minimisation is subject to the constraints yuwgreater than or equal toyu,w+1 and yu,wgreater than or equal toyu−1,w. In addition, impose y20,0=100, y0,w=0 for w=0, †¦, 9 and yu,10=0 for u=1, †¦, 20. Although the fitting of Y is completely non-parametric, there are some arbitrary choices that have been made in the minimisation of (2). First, not only was the choice of squared error discrepancy in (2) convenient for computation, minimisation of the function F with squared error discrepancy corresponds to the method of constrained maximum likelihood estimation where the data ruw are independently normally distributed with means yuw and variances 1/quw. Second, a matrix Y: 20 10 based on overs is chosen. Alternatively, a larger matrix Y: 120 10 based on balls could have been considered. The overs formulation is preferred as it involves less missing data and leads to a less computationally intensive optimization. With a matrix Y based on overs, it is possible to interpolate on a ball-by-ball basis if required. Third, a simple choice has been made with respect to the weights quw. 1/quw is set equal to the sample variance used in the calculation of ruw divided by the sample size. The rationale is that when ruw is less variable, there is stronger belief that yuw should be close to ruw. Table 4 gives a non-parametric resource table based on the minimisation of (2). An algorithm for isotonic regression in two variables was first introduced by Dykstra and Robertson (1982). Fortran code was subsequently developed by Bril et al (1984). An R code implementation has been used that is available from the Iso package on the Cran website (www.cran.r-project.org). The programme requires 27 iterations to achieve convergence. What is unsatisfactory about Table 4 is that it suffers from the same criticism that was directed at the Duckworth-Lewis resource table. There is a considerable number of adjacent entries in Table 4 that have the same value. Again, it is not sensible for resources to remain constant as available overs decrease or wickets increase. The problem is that in the minimization of (2), various fitted ys occur on the boundaries imposed by the monotonicity constraints. Table 4 is also unsatisfactory from the point of view that it is incomplete; missing values corresp ond to match situations where data are unavailable. To address the above criticisms, it is necessary take a slightly different approach to estimation. As previously mentioned, it can been seen that (2) arises from the normal likelihood Therefore, consider a Bayesian model where the unknown parameters in (3) are the ys. A flat default prior is assigned to the ys subject to the monotonicity constraints. It follows that the posterior density takes the form (3) and that Gibbs sampling can be carried out via sampling from the full conditional distributions subject to the local constraints on yuw in the given iteration of the algorithm. Sampling from (4) is easily carried out using a normal generator and rejection sampling according to the constraints. Although in statistical terminology, (3) takes a parametric form, the approach is referred to as non-parametric since no functional relationship is imposed on the ys. Table 4. A non-parametric resource table for Twenty20 based on isotonic regression Overs available Wicket lost 0 1 2 3 4 5 6 7 8 20 100.0 19 93.6 85.5 85.5 18 90.4 85.5 80.8 17 86.7 80.8 80.8 64.7 16 81.7 77.4 77.4 64.7 55.9 15 76.5 71.5 71.5 64.7 55.9 14 68.8 68.8 67.6 64.7 55.9 13 66.6 66.6 62.6 62.6 55.9 38.4 12 62.2 62.2 60.6 57.3 55.9 38.4 11 60.5 56.8 56.8 54.8 54.8 38.4 10 57.6 52.1 52.1 52.1 48.1 38.4 34.1 29.3 9 54.9 52.1 46.5 46.5 44.1 36.3 34.1 29.3 8 51.0 46.4 42.0 42.0 41.2 36.3 28.6 28.6 7 48.6 45.8 38.9 37.3 37.3 34.8 25.3 25.3 6 39.7 39.7 36.6 32.8 32.8 31.3 23.0 21.4 21.4 5 39.7 32.5 28.0 28.0 28.0 23.0 17.1 15.5 4 27.9 23.4 22.5 22.2 20.9 14.3 10.7 3 20.7 19.9 17.4 17.4 15.8 12.4 7.7 2 20.7 17.6 12.5 12.5 10.8 10.8 7.2 1 8.7 6.6 6.6 6.0 5.7 5.7 The table entries indicate the percentage of resources remaining in a match with the specified number of wickets lost and overs available. Missing entries correspond to match situations where data are unavailable. In Table 5, the estimated posterior means of the ys obtained through Gibbs sampling are given, and these provide an alternative resource table for t20. The computations pose no difficulties and the estimates stabilize after 50,000 iterations. For cases of missing data, the Duckworth/Lewis table entries are used to impute the missing rs. The imputation is in the spirit of a Bayesian approach where prior information is utilised. Unlike Table 4, Table 5 is a complete table. Also, there are no longer adjacent table entries with identical values and this is due to the sampling approach. Finally, it can be stated that the methodology allows the input of expert opinion. For example, suppose that there is expert consensus that a table entry yij ought to be tied down to a particular value a. To force this table entry, all that is required is to set rij=a and assign a sufficiently small standard deviation Unfortunately we are unable to provide accessible alternative text for this. If you requi re assistance to access this image, please contact [emailprotected] or the author Table 5. A non-parametric resource table for Twenty20 based on Gibbs sampling Overs available Wickets lost 0 1 2 3 4 5 6 7 8 20 100.0 96.9 93.0 87.9 81.3 72.2 59.9 44.8 29.7 19 95.6 90.9 87.7 83.0 76.9 68.3 56.5 42.0 27.2 18 91.7

Essay --

Legalizing Marijuana This found plant is known as marijuana it is recognized all around the world. This plant is known to be a drug/herb that gives people â€Å"high† and is also illegal in almost every location part of the world. Some nations are very strict when it comes down to enforcing the law when others are very lenient. Marijuana is known to be an addicting substance that cause death but what they don’t know is that marijuana is used to cure people in resources no others can find. A plant that has been said to not only cause illusion and memory loss but being able to help in aid people with cancer and aids. Today there is still more and more people who are deciding on siding with pro marijuana legalization for America. Citizens that never gave marijuana legalization a plain in thought or are just heavily against it are beginning to believe that legalizing marijuana would prove helpful for the United States. There are plenty of reasons why there are many people who support marij uana legalization and one basic reasons is the benefit of marijuana being a medicinal drug. Even some states in America have already legalize using marijuana for medical purposes only, while many have not done so centennially. Other countries such as Canada have already allowed medical marijuana be used. The fact in states and other nations allowing the use of marijuana to be for an important aspect such as medicine making the drug legal. Especially since it hasn’t caused any harmful problems being used that way. Marijuana is a medicine that can relieve pain for users along with other specific benefits. Marijuana has been known as a strong and important topic in the government later in these years, deciding whether or not marijuana should be leg... ...ted based on the assumptions people use and what can directly impact the United States in a positive way. People need to open up their eyes and stop being ignorant on the capabilities a drug can prove to be helpful and the fact that marijuana being legal would help the United States in dire help. People that are against it have not once looked into the benefits it hold and may never will. We all tend to seek pleasure in our life every day and everyone has their own way of achieving that. For some, that source of pleasure is marijuana and all they want to end up doing is gain pleasure like others do, but we should all be who we want be no matter how people take life whether it’s in peace but all we know is that its best to enjoy life and in harm’s way. Never in my life have I once heard a problem that is caused by marijuana and that is because it has never happened.

A Modern Version of Shakespeares Play, Henry V Essay -- Henry IV Henr

A Modern Version of Shakespeare's Play, Henry V The play Henry V, currently being staged at the University of Alberta student theatre, exemplifies an innovative manner of bringing the historic play into the modern era of technology. Set in the form of two multinational corporations: England and France, the play details the metaphoric battle for the market share from the two companies. Set in the current era circa 2002, the props and set for the play incorporate several technological innovations of the twenty first century. The workers for the corporation mirror the class system of the nobility, clergy and commoners in the play. The members of the clergy and nobility are analogous to the advisors, high-level executives, and members of the board of directors while the King fills the role of the Chief Executive Officer. The commoners and peasants are other employees of the firm such as the clerical staff and other related permissions. Their wardrobe is reflected accordingly the high-level business people wear suits of the finest calibre and the lower level workers wear attire that is considerably less formal. It was in this way that the audience is able to discern the respective classes from each other. This illustration of class distinction was most clearly portrayed in Act four Scene one where Henry changes into less formal wear as he goes down to the lunchroom and begins to converse with the publicists and other commoners that frequent the company's cafeteria. It is here within his masquerade th at he learns the morale of the workers and their attitude towards their executives. The entity of the chorus, which serves as the narrator of the play, still holds true to that function as a camera crew and news reporte... ...ing something that they had either experienced or had a family member experience. As a result, it caused them to identify with the play. The manner in which this play has been configured such that it is drawing on the predatory and imperialistic tendencies displayed by multinational conglomerates provides a way for today's audience to identify with the plight of the characters and their realm. Works Cited Shakespeare, William. Henry V. The Norton Shakespeare Based on the Oxford Edition: Histories. Eds. Greenblatt, Stephen et al. New York: Oxford University Press, 1997. 736-793. Works Consulted Ganz, Arthur. "Henry V In New York". Shakespeare Quarterly 35:4 (1984): 470-471 Speaight, Robert. "Shakespeare in Performance". Shakespeare Quarterly 36:5 (1985): 534-540. Stokes, Swell. "The Oliviers". Theatre Arts 29:12 (1945): 711-718.

Henry Wadsworth Longfellow :: Henry Wadsworth Longfellow

Henry Wadsworth Longfellow Look then, into thine heart, and write! â€Å"Master Henry Longfellow is one of the best boys we have in school. He spells and reads very well. He can also add and multiply numbers. His conduct last quarter was very correct and amiable.† This quote is from a letter sent home from Longfellow’s school when he was just six years old. Henry Wadsworth Longfellow was born February 27, 1807, in Portland, Maine. He was the son of Stephen Longfellow and Zilpah Wadsworth Longfellow. Early on, his parents could see that he had an interest in literature. His mother read to him frequently. Don Quixote was one of his favorites but it was Washington Irving’s Sketch Book that influenced him the most. Sent to school at just three years old, Longfellow graduated from Bowdoin College at 19. Upon graduation he was offered a job as professor of modern languages, a program that the college was just putting together. He accepted the position with the stipulation that he would be given a period of time to travel and study in Europe. It was on this journey that he was able to retain many ideas for his future writings. Longfellow walked through the countries so that he could stop at inns and cottages and talk to people. He met peasants, farmers and traders. He traveled to Spain, Italy, France, Germany, and England. Returning to America in 1829, he started his career as a college professor. He had to write his own texts because there were none at that time. In 1831, Longfellow married his first wife, Mary Storer Potter. In 1834, he was offered a professorship at Harvard. Once again, he set out for Europe to prepare himself to teach. His wife accompanied him on this trip and died in Rotterdam. Arriving at Cambridge alone, he took a room at historic Craige House. Eventually, the house was purchased by Nathan Appleton. Seven years after Longfellow came to Cambridge he married Mr.

Key Enm4

ENM411 Market leader –Upper-Intermediate 1 UNIT 1-7 Listening |SPRING2010 |SUM2011 |FALL2011 |SPRING2012 | | | Midterm: Builder Higher Test 2, Part 1, Part 2 Cambridge BEC Higher 1- Test 1, Part 1 Cambridge BEC Vantage 2, Test 1, Part 3 Cambridge BEC Higher 1- Test 2, Part 1 Cambridge BEC Vantage 2, Test 4, Part 3 Cambridge BEC Higher 4, Test 3, Part 1 Cambridge BEC Vantage 4, Test 3, Part 3 Final Exam Cam Higher 3-Test 3, Part 1 Builder Higher Test 2, Part 3 Cambridge BEC Higher 2, Test 1, Part 1 Cambridge BEC Vantage 2, test 2, Part 3Cambridge BEC Higher 1- Test 3, Part 1 Vantage Builder, Test 2, Part 3 Cambridge BEC Higher 2, Test 3, Part 1 Cambridge Pass Vantage Self-study, Test 1, Part 3 Resit Pass Vantage self study- Test 2, Part 1, Part 3 Cambridge BEC Higher 2, Test 2, Part 1 Cambridge BEC Vantage 2, Test 3, Part 3 Cambridge BEC Higher 1- Test 4, Part 1 Pass Vantage self-study, Test 1, Part 3 Cambridge Builder Higher, Test 1, Part 1 Cambridge BEC Vantage 4, Test 4, Par t 3 WRTITING Midterm: Your Managing Director is considering how to improve the company’s internal communications, Write a proposal for the Managing Director:Final: Midterm: An international fund is offering grants to small businesses to improve their facilities. Write a letter FE: Your company is considering appointing someone as your assistant,Write a report for your manager, describing: Resit: The graph below shows the profit and loss made on three new products (A, B and C) in the year following their introduction to the market. Using the information from the graph, write a short report READING Midterm Pass Cambridge BEC Higher Selfstudy p. 33 Cambridge BEC Vantage 2, Test 3 Part 2, p. 60 Cambridge BEC Higher 1, Test 1 Part 3, p. 22. Control Key and Word – Text and Graphics.Cambridge BEC Vantage 3, Test 1 Part 4 Cambridge BEC Higher 2, Test 1 Part 1 Cambridge BEC Vantage 2, Test 2 Part 3, Cambridge BEC Vantage 4, Test 1 Part 4 Cambridge BEC Higher 1, Test 2, Part 1 V antage Self study, Test 2, Part 3 Cambridge BEC Higher 1, Test 3, Part 1 Cambridge BEC Vantage 1, test 2, part 4 Final BEC Vantage Masterclass Unit 4, Workbook p. 10 Cambridge BEC Higher 2, Test 1, part 2, p. 20 Cambridge BEC Vantage 2, Test 4 Part 3, p. 82 Cambridge BEC Vantage 4, Test 4 Part 4 Cambridge BEC Higher 1, Test 1 Part 1 Cambridge BEC Vantage 2, Test 1 Part 3, Cambridge BEC Vantage 2, Test 2, Part 4Cambridge BEC Higher 2, Test 3, Part 1 Pass BEC Vantage Self-study, Test 2, Part 3 Cambridge BEC Higher 4, Test 3, Part 1 Cambridge BEC Vantage 4, Test 2, Part 4 Resit Cambridge BEC Vantage Self-study, Test 1, Part 4, P. 24 Cambridge BEC Vantage 2, test 1 part 2, p. 20 Cambridge BEC higher 2, test 2, part 3 p. 30 Cambridge BEC Vantage Self Study, Test 4 Part 4 Cambridge BEC Higher 4, Test 4, Part 1 Cambridge BEC Vantage 3, Test 1 Part 3 Cambridge BEC Vantage Self study, Test 3, Part 4 Cambridge BEC Higher 4, Test 3, Part 1 Vantage Self study, Test 3, Part 3 (used) Builder High er , Test 1, part 1Pass BEC Vantage Self study, Test 2, part 4 Grammar and Vocabulary Progress Test 1 + Midterm block 1 + Final Exam + Resit MC Unit 1 This invention reduced production time by a†¦Ã¢â‚¬ ¦ of months, and Freudenberg consequently became one of the biggest tanneries in Europe. issue problem trouble matter Installing an automated system means data is now†¦Ã¢â‚¬ ¦ only once but can be access by anyone in the company. penetrated entered put placed I have received numerous complaints that Meetup is†¦Ã¢â‚¬ ¦ people with unwanted emails. bombarding falling pouring flowing When †¦Ã¢â‚¬ ¦ , effective communicators are good at giving information. peak speaking spoken to speak The manager recommends †¦Ã¢â‚¬ ¦ email only three times a day, allocating a set period of time to deal with it. checking to check check checked If you say something under your †¦Ã¢â‚¬ ¦, you whisper or say it very quietly. mouth ears tongue breath It is easy to †¦Ã¢â‚¬ ¦ t he difference between the banknotes used in the country. say speak tell talk Good communicators do not ramble and lose †¦Ã¢â‚¬ ¦ of the main message. meaning light sense sight A †¦Ã¢â‚¬ ¦ person always keeps his or her attention fixed on what he or she wants to achieve. uninhibited focused eloquent succinctWhen somebody is dismissed from the job, we can say that they have†¦Ã¢â‚¬ ¦ got the boot got the shoe got the sandal got the slipper He was unable to express his disagreement although he is generally †¦Ã¢â‚¬ ¦. amicable assertive accessible agreeable Identifying the subgroups within an organization and making sure each group feels valued and respected can do †¦Ã¢â‚¬ ¦ more to encourage the sharing of information. further far many lot Good communicators make their †¦Ã¢â‚¬ ¦ clearly and avoid technical terms, abbreviation or jargons. points means thought perceptions Not all politicians are eloquent. Some of them even use an†¦Ã¢â‚¬ ¦ autocue notepad sticker auto noteInstalling an automated system means data is now †¦Ã¢â‚¬ ¦ only once but can be accessed by anyone in the company, wherever they are. paced registered admitted entered 1. Good communicators maintain eye contact and have a relaxed body language when speaking; they really take in what people say. in on at up 2. The speakers went on and on and did not get to the point. I had no idea of what they were rambling about. Rambling digressing interrupting engaging 3. Good communicators sometimes digress and leave the main point to add information and details. However, they will not ramble and lose sight of the main message. Confuse digress explain larify 4. It's useful to allocate a set period of time to process your inbox, rather than checking it sporadically throughout the day. Allocate indicate deliver distribute 5. The company’s advertising emphasizes that it provides a personal health service tailored to the individual needs. Met tailored satisfied fixed 6. A brave new world is a world in which society has been transformed by technology and science. Brave progressive modern courageous 7. It is easy to tell the difference between the banknotes in the US and the UK. Say tell speak ask 8. He would like to know whether he stands a chance of getting promoted or not.Hang on a second. I am afraid that we are duplicating work because I also asked my department to do this. Copying duplicating wasting imitating 9. Breakdown in communication can bring the world to a halt today. Stop halt cancel interruption 10. If something is in the air, you feel that it is happening or about to happen. air sky hand atmosphere 11. The†¦Ã¢â‚¬ ¦.. articulate people express thoughts and feelings easily and clearly so that almost everyone can understand. Responsive eloquent persuasive articulate 12. He seems so uninhibited here. He behaves and speaks freely and does not care what other people may think. Incoherent rticulate uninhibited inarticulate 13. By creat ing a relaxed atmosphere, good presenters can easily establish rapport for the audience. And a good rapport, as many presenters will tell you, is half the battle. Set up form establish find 14. The collapse of the company will have repercussions for the whole industry Percussions discussion recession repercussions Extra Disruptive technology is a new technology, such as computers and Internet, which has rapid and major effect on technologies that existed before. The tariff for something is a list of prices, especially ones which vary according to the time or day of use.When somebody is dismissed from the job, we can say that they have Got the boot Got the shoe Got the sandal Got the slipper A lazy employee who only pretends to work is said to be Swinging the lead Fillblank 1. If something is in the a(ir/air), you feel that it is happening or about to happen. 2. Information o(verload/overload) means that decisions about what to read amongst thousands of potential books and articles i s a highly problematic task. 3. I can’t make head or t(ail/tail) of that badly written report. 4. If you give somebody a low-d(own/down) you tell them all the information they need to know. . If you a(ir/air) your views, you express your opinions about something in public. 6. Despite his great s(ense/sense) of humor, he often find it difficult to respond to his audience. 7. â€Å"R(edundancy/redundancy)† is the situation when someone loses their job because their employer does not need them. 8. Good presenters establish good r(apport/rapport) with the audience. 9. A(rticulation/articulation) is the formation of clear and distinct sounds in speech. 10. An open p(lan/plan) office is the one which has few or no walls inside, so it is not divided into smaller rooms. 11.A l(ine/line) manager is a person with direct managerial responsibility for a particular employee. 12. Internal communication can be one of the hardest nuts to c(rack/crack) in business. I am not sure whethe r or not I s(tand/stand) a chance of being promoted soon. As he couldn’t attend the meeting, she is giving a summary of the main point to put him in the p(icture/picture). If you are at a l(oss/loss) for words, you are unable to say anything because something surprising or totally unexpected has happened. If someone drops a h(int/hint), he or she makes a suggestion in an indirect way. Unit 2In the short term, firms may experience increased risk and decreasing profits when†¦.. going international. Going Traveling Cruising Arriving The main target of the anti-globalization movement is corporate power, not capitalism, but these perspectives do not necessarily exclude one another. progress Movement Arrival Motion Because of the budget†¦. , this year's focus has been to add value to increase sales without impacting gross profit margin. lack emptiness constraints complications We †¦Ã¢â‚¬ ¦ out promotional activities for various companies in the internet through class ified websites. bring take make carryPeople in Chile prefer instant coffee †¦Ã¢â‚¬ ¦ freshly brewed. to with for about Even the most †¦Ã¢â‚¬ ¦ differences in consumer profile of a Columbian and a Venezuelan will not have been lost in Starbucks. illusive catchy gentle subtle In order to †¦Ã¢â‚¬ ¦ competitive advantage, companies will try to make their products and services stand out from their competitors’. insure secure sure certain Marketers need to be aware of the buying behavior of †¦Ã¢â‚¬ ¦and potential customers. present existing conventional current US-style coffee houses have been †¦Ã¢â‚¬ ¦ up in the upmarket districts of the country. appearing springing coming oing Anyone who knows the Starbucks story can already visualize potential outlets in the most fashionable †¦Ã¢â‚¬ ¦ of the region’s capital cities. neighborhoods neighbors fields factors The †¦Ã¢â‚¬ ¦ aim of advertising is to persuade consumers to choose a specific produ ct or service. efficient extreme ultimate decisive Brand also presents some intangible aspects of a product since it is how the product or often even the whole company’s †¦Ã¢â‚¬ ¦ by its customers. perceived received believed relieved Brand is the †¦Ã¢â‚¬ ¦ of ideas, feelings, and perceptions about lifestyle and status, image and quality. versus nexus lexis focusNumerous shopping malls offer customer free parking, and all the major retail brands can be purchased under one †¦Ã¢â‚¬ ¦. roof house tower citadel Coca Cola has †¦Ã¢â‚¬ ¦ its soft drinks to every market. economized altered customized separated Consumer tastes vary enormously from one country to †¦Ã¢â‚¬ ¦. another the other ohers other Their mailing list contains plenty of information and data so that they won’t have any difficulty †¦Ã¢â‚¬ ¦ the most appropriate recipients for the mailshots. to identify identify identifying identified The most important decisions for international marketing are probably†¦Ã¢â‚¬ ¦product standardization and variety reduction. hat of what which of those of In international marketing, it is necessary to meet individual national requirements, particularly where †¦Ã¢â‚¬ ¦goods are concerned. consumer consumption consuming consumed 15. The 2008 market is a declining market with businesses closing down, employees losing their jobs and a challenging stock market. Reducing declining falling failing 16. This technique is applicable to a wide variety of crops, but some modifications may be necessary to accommodate the†¦ peculiarities of each type. Forms specialties peculiarities specifications 17.Irony†¦ is a situation in which something which was intended to have a particular result has the opposite or a very different result. Subtleness irony peculiarity homogeneity 18. Some analysts say Starbucks was forced to globalize because it had saturated its home market. Balanced equaled saturated justified 19. The extremely †¦volatile exchange rate has contributed to considerable uncertainty in ? nancial markets. Impressive volatile confidential expanding 20. Expanding †¦. operations overseas poses challenges, including finding business partners, protecting intellectual property and complying with different local laws. Businesses Operations ork enterprises 21. For long-term sustainability of the industry, it is important to diversify the product †¦range and move towards products that are less resource intensive and fulfil market requirements. Types range forms mediums 22. Mission †¦statement is a short written description of the aims of a business, charity, government department or public organization. purpose mission target aim 23. If you want to compete you must play to your own strengths. play work base contribute 24. In many countries today, global brand owners command the super-premium†¦ end of the market in any given product category, while local brands command the rest. Side end type sort 25. Global brand owners poured into the newly opened markets and, facing little competition in countries unaccustomed to consumer culture, they thought they would clean up. With about to for 26. As people become better off, they want more choices, not fewer. On with about off In order FillBlank 1. R(ed/red) t(ape/tape) and other examples of government bureaucracy hinder a company’s entry into a market. 2. Consumers’ buying habits can be described as their p(urchasing/purchasing) behavior. 3. A w(holesaler/wholesaler) sells goods to the retailers, usually in large quantities. 4.If goods in a shop are on s(pecial/special) offer, they are being sold at a lower price than usual. 5. If a market s(aturates/saturates), it provides too much of a product so that there is more of this product available than there are people who want to buy it. 6. N(ovelty/novelty) is something which has not been experienced before and so is interesting. 7. If a culture is h(om ogeneous/homogeneous), it consists people which are similar to each other or are of the same type. 8. A m(ission/mission) s(tatement/statement) is a formal summary of the aims and values of a company, organization, or individual. 9.M(arketing mix/marketing mix) is a combination of factors that can be controlled by a company to influence consumers to purchase its products. 10. M(ailshot/mailshot) is the posting of advertising or similar material to a lot of people at one time. Marketers sometimes focus on particular segments of a given overall market. This process is known as ‘t(arget/target) marketing’ T(angible/tangible) assets are real, physical assets owned by a firm or individual that can be seen or touched. Unit 3 The excellent relations the company enjoys with the local community are a †¦Ã¢â‚¬ ¦ to its highly effective PR Department. credit gift alent genius As a result of the government’s †¦Ã¢â‚¬ ¦ of currency controls, its close relations with s everal major foreign investors have been jeopardized. proposition imposition compensation concession While some of Toyota's Japanese plants have †¦Ã¢â‚¬ ¦ production for certain models, over 16 plants are still closed. assumed consumed undermined resumed Retailers need to †¦Ã¢â‚¬ ¦ and build a relationship with the customer across a range of channels including the internet. inquire require acquire secure There’s a lot we can do to keep our customers and learn more about them. But we need to be creative and come †¦Ã¢â‚¬ ¦ with good ideas. p on about for I hope you don’t mind me †¦Ã¢â‚¬ ¦. to phone phoning phone phoned I hope that you might be able to advise me †¦Ã¢â‚¬ ¦ franchising contracts. for with about on Relations between them are rather †¦Ã¢â‚¬ ¦. They don’t seem to like or trust each other. smooth straightened amiable strained IAG has an unrivalled scale of operations and a †¦Ã¢â‚¬ ¦ of political and business connections . property wealth vast sum China is probably the insurance market with the biggest †¦Ã¢â‚¬ ¦ potential in the world . untapped unheard unknown untouched Today, turning its pioneering presence into a †¦Ã¢â‚¬ ¦success is AIG’s biggest challenge. ntrepreneurial commercial enterprising economical The report †¦Ã¢â‚¬ ¦two key elements of a successful strategy. pinpoints guides invents orients In China, extravagant entertainment are part of business †¦Ã¢â‚¬ ¦. doing practice action act The †¦Ã¢â‚¬ ¦customer of the 21st century does not have time on his or her hands. relentless disordered preoccupied restless Many major retailers failed to adjust to the †¦Ã¢â‚¬ ¦ towards internet buying. orientation move direction walk Unit 3 27. After †¦. cementing good contacts, he went in and completely.. undermined all our hard work. Breaking/soured maintaining/established romoting/ built cementing/undermined 28. Widespread rumours of a hostile take-over bid are certain to .. strain relations between two leading French software companies. drain strain stress pain 29. The restless customer of the 21 century does not have time on his or her hands and there are million other providers, all ready and eager to sell to that customer. Restful Restless resting rested. 30. If something is transparent, it is very clear and easy to understand. Transferable transparent transmissible transactional 31. If someone is explicit, he or she says things clearly, exactly and openly. xplicit implicit requisite honest 32. An intermediary is someone who carries messages between people who are unwilling or unable to meet. Immediacy intermediary intermediatory intermediation 33. I think we'll have to terminate his contract because he doesn't fit in with the other people in the office. Extend renew terminate sign 34. If a bank or other organization underwrites an activity, it gives it financial support and takes responsibility for paying any costs if it fails. Under writes makes certain guarantees secures 35. Capitalization is the total value of a company's shares on a  stock exchange.Market price capital capitalization market share 36. China was considered to be the insurance market with the biggest untapped potential in the world Untouched untapped unused undone 37. To lobby means to attempt to convince public officials to favor a certain cause or take a certain action. Persuade tempt induce lobby 38. In terms of investing in emerging markets, AIG has an edge over other insurers. edge advance experience activeness 39. With roots dating back more than half a century, AIG has an unrivalled scale of operations and a .. wealth of political and business connections. richness ealth vast various 40. Her outstanding performances set a new†¦ benchmark for singers throughout the world. record remark benchmark line Gapfilling 1. To a(ffiliate/affiliate) means to cause a group to become part of or form a close relationship with another, usually la rger, group or organization. 2. Our agent let us down, we though we could c(ount/count) on him to boost sales but he had no commitment, no motivation. 3. They may be our competitor, but we want to stay on good t(erms/terms) with them. 4. They didn’t h(it/hit) it off at first, but little by little the came to be friends. . You should be able not only to relate to your employees, but also to h(old/hold) on to them. 6. We are definitely going to create a new post, so I suggest we should s(ound/sound) out a few people about it. 7. We continue to be one of the world’s leading business-to-business supplier of office products and services, and our m(otto/motto) continues to be â€Å"Our job is to make your job easier†. 8. We’d like to d(raw/draw) your attention to our special offers for regular customers like you. Customers will tolerate a little delay, but they are unlikely to p(ut/put) up with rudeness.They get on really well with each other, so it came as a s urprise when they f(ell/fell) out over such a trivial incident. He’s going to be t(ied/tied) up in the meeting till noon, so please come and see him in the afternoon. Unit 4 1. The company will †¦Ã¢â‚¬ ¦ shares to indicate who owns the company, and in what proportion. print issue publish release 2. Billionaire financier George Soros stands to make †¦.. profits with his newly launched investment fund. beautiful handsome pretty hunky 3. If you †¦Ã¢â‚¬ ¦ something, you to control it, usually in order to use its power. tackle harness integrateTheir hard work and investment is beginning to†¦Ã¢â‚¬ ¦ fruit. manufacture produce bear bring Several staff underperformed last year and didn’t †¦Ã¢â‚¬ ¦their targets. see meet talk please Whether or not to deregulate health care is a †¦.. issue. separate divisive gapping splitting When some key employees disappeared, the boss said that they’d left to †¦Ã¢â‚¬ ¦ other opportunities. gain pursue purchase ensure We are looking for ways of †¦Ã¢â‚¬ ¦ our rivals. No one will be cheaper than us. underselling below selling above selling overselling In the late 1990s, many countries †¦Ã¢â‚¬ ¦ a sharp economic downturn. looked viewed witnessed glancedStaff who never get any praise for their achievements may †¦Ã¢â‚¬ ¦ up underrating their own abilities. finish terminate complete end What we are looking for †¦Ã¢â‚¬ ¦ a candidate who can get results and work well under pressure. are is being be 6. Of course I can see now that Brian is an †¦Ã¢â‚¬ ¦ to our company, and I’m sorry I so badly misjudged him when he started working for us. asset access assessment acceptance 7. We’ll cut our expenses and downsize our †¦Ã¢â‚¬ ¦ in order to become more competitive on the market. practices actions operations work 8. After some teething troubles, they now have a †¦Ã¢â‚¬ ¦ business with a huge turnover. declining thriving riving diving It’s been a lot of hard work, but she seems to be really making a †¦Ã¢â‚¬ ¦ of her business. walk go step come The new product †¦Ã¢â‚¬ ¦filled the gap of the market and †¦Ã¢â‚¬ ¦took off as soon as it was launched. filled/took filled/set covered/took covered/set If an industry, company, activity etc is in the †¦Ã¢â‚¬ ¦, it is not doing well or developing. depress deadness doldrums docks The Mobil logo is an instantly †¦Ã¢â‚¬ ¦ logo across the planet. recognized aware conscious sensed While it's difficult for the average investor to buy shares in Facebook right now, there are rumors that the company will go †¦Ã¢â‚¬ ¦ in 2012. stock general widespread ublic 41. The advent of LCD watch technology in 1970s created a vast opportunity for the company. Arriving Adventure advent going 42. Gimmick is something which is not serious or of real value that is used to attract people's attention or interest temporarily, especially to make them buy something. Slogan gimmick mimic gadget 43. We have also seen the downfall of some companies which over-expanded during the last boom. Downmove downwards downfall falldown 44. As the retail market became saturated, they had to think up a short-term strategy and develop some long-term planning. Out up on of 45. Today's consumers are very price.. onscious, but aggressive price promotions undermine the perceived value of our brand Aware knowing informed conscious Gapfilling 1. â€Å"N(epotism/nepotism)† means using your power or influence to get good jobs or unfair advantages for members of your own family. 2. If someone is r(uthless/ruthless), they have or show no pity or compassion for others. 3. P(rototype/prototype) is the first example of something, such as a machine or other industrial product, from which all later forms are developed. ’ 4. A t(riumph/triumph) is a very great success, achievement or victory or a feeling of great satisfaction or pleasure caused by this. . The company has loya l customer b(ase/base) because it meets the expectation of customer by always delivering the goods at lower prices. 6. The company made a profit for the first time since going p(ublic/public). 10. A â€Å"g(immick/gimmick)† is something which is not serious or of real value that is used to attract people's attention or interest temporarily, especially to make them buy something. 11. We don’t want our customers to think we were r(ipping/ripping) them off if we charged them a higher price. Nobody thought we’d clinch the deal, but we came up t(rumps/trumps) in the end.A â€Å"high f(lier/flyer/flier/lyer† is someone who has a lot of ability and a strong desire to be successful and is therefore expected to achieve a lot. 7. Since the emergence of high-speed Internet, the music industry has complained that it is being brought to its knees by the p(irates/pirate/pirates/irate) of downloading. 8. A â€Å"f(law/flaw)† is a fault, mistake or weakness, espec ially one that happens while something is being planned or made, or which causes something not to be perfect. 9. If someone is f(ussy/fussy), they not easily satisfied and have very high standards about particular things.If a company is going p(laces/places), it is on the way to success. We had been always ahead of our rivals until 2003 when they o(utstripped/outstripped) us for the first time. Unit 5 16. We use †¦Ã¢â‚¬ ¦ strategies to reach audiences across all channels, from digital to mobile to word of mouth. integrated consolidated united blended 17. In the interview with Bloomberg Opedal says that Orkla is willing to sell assets to †¦Ã¢â‚¬ ¦the expansion in Asia. supply finance pay off provide 18. Unemployment in the booming economies of Australia and New Zealand is at †¦Ã¢â‚¬ ¦lows. most least record highest 1. The company is †¦Ã¢â‚¬ ¦ ways to keep the best salespeople. making oing watching devising 2. A liberal education helps students develop a †¦Ã¢â ‚¬ ¦ of social responsibility. sense feeling perception sensation Because technology companies face the †¦Ã¢â‚¬ ¦ labor markets, they have been the most aggressive in devising ways to keep workers. smallest narrowest tightest tiniest Managers can †¦Ã¢â‚¬ ¦educational and special training leave for staff and encourage them to attend training programmes and conferences. decide avoid add advocate Don’t throw money at the workers who want to leave because pay †¦Ã¢â‚¬ ¦ don’t always work. rises raises lifts elevations 6. The company want to hire people that are totally †¦Ã¢â‚¬ ¦ with their values. ined dealing accompanied aligned 7. As a boss, you need to make employees feel †¦Ã¢â‚¬ ¦ they’re not interested in looking elsewhere, because they’re very happy with their life. as though though if whether 8. Building up employee loyalty is important with unemployment at a †¦Ã¢â‚¬ ¦ low. extreme most total record 9. The new CEO †¦Ã¢ € ¦ the bureaucratic corporate culture to profit-minded entrepreneurship. formed transferred transformed translated 10. The growing number of close relationships between staff has very bad effect on both performance and †¦Ã¢â‚¬ ¦. morale moral motive motion He has a †¦Ã¢â‚¬ ¦of accomplishment when a demanding task is carried out successfully. eel sense thinking perception The company should have †¦Ã¢â‚¬ ¦ of an individual’s or group’s efforts or contributions. acknowledgement knowledge realization admission 46. If an employee is so overloaded that there is not time to keep organized this can increase the stress that leads to burnout. Over-burn burn-off burnout burn down 47. Generous remuneration packages are often attached to overseas postings. numeration remuneration pay benefit. 48. Wholly foreign owned enterprises enjoy exclusive management control of their own business activities and have †¦autonomy in their operation and management with less interference from the government.Appraisal autonomy bureaucracy assessment 49. In a performance †¦appraisal, an employee discusses with their manager how well they have been doing their job, their progress, aims and needs at work. Bureaucracy commission appraisal incentive 50. Staff retention is one of the key factors required to keep your service quality constantly at high level. Retention maintenance retention intervention 51. Already providing top quality services, the company goes a step further by exceeding customers' expectations at all times. More forwards upwards further 52. Labor crunch is a situation in which there are not enough workers.Redundancy restriction crunch intension 53. The company’s parental leave policies are very generous in allowing time off and reentry into employment. Leave off rest vacation 54. We revamped all the management system, but the business is doing no better than it was before. Redid revamped retained regenerated 55. Morale†¦. i s the amount of confidence felt by a person or group of people, especially when in a dangerous or difficult situation. Morale spirit mood status 56. A parent must be careful not to show favoritism towards any one of their children. Favorite favorability favoring favoritism 7. Could I have a quick word with you? saying sentence word talk 58. Actuaries†¦. are people who calculate insurance risks and premiums according to statistical probabilities. Insurers calculators statisticians actuaries 59. If something is†¦ negligible, it is of very little importance or size and not worth considering. remote negligible slight faint 60. They have to take decisive action to prevent these losses from escalating. Take make create do 61. By focusing on customers and their expectations, he helps companies develop integrated strategies to achieve long-range performance goals.Integrated connected interrogated interrelated 62. She resumed her career after an interval of six years. Retook resume d redid remade 63. While acts of terrorism receive the most coverage, it’s the more traditional events such as fires, floods, explosions, power failures or natural disasters that have the biggest impact. Cover coverage newspapers social networks 64. Whether the quality of customers' experiences is poor or excellent, all companies have room for improvement. Place vacancy room emptiness 65. When staff turnover is high, a manager needs to understand why people are leaving and work on correcting it.Turndown turnoff turnover turning 66. In urban areas all the major operators in the last few years have been focusing on corporate clients to boost their revenues. Boot boost shoot host 67. About five years a go, the company began to lose sales and market share, and in the last two years, it has made a loss. made done caused taken 68. Individual business units must own and manage their own risks within the framework of an overall risk management policy. framework structure infrastructu re organization 69. I am going to suggest we carry out a study of the market, and take it from there. carrying carry arried to carry 70. If a company is in a precarious situation, it’s in a dangerous state and there’s a risk that it may go out of business. cautious precautious precarious embarrassing Gapfilling 1 I am up to my e(yes/eyes) at the moment. Would you be able to give me a hand with these progress report for tomorrow’s meeting. 2 R(aw/raw) material is the basic material from which a product is made. 3 R(etention/retention) is the continued use, existence or possession of something or someone. 4 P(erk/perk) is an advantage or extra thing, such as money or goods, which you are given because of your job. Common s(ense/sense) is the basic level of practical knowledge and judgment that we all need to help us live in a reasonable and safe way. 10. People talk much about need for work that gives them quality of life, the work-life b(alance/balance) and the a voidance of stress. A judicious system of p(erks/perks), such as housing allowances or extra holidays should be devised. When the staff feel responsible and accountable for their own work, and when they are somehow involved in the decision-making p(rocess/process), their job satisfaction increases. 6 To d(evise/devise) means to invent a plan, system, object, etc. usually cleverly or using imagination. 7 â€Å"D(esperation/desperation)† is the feeling that you have when you are in such a bad situation that you are willing to take risks in order to change it. Everyone needs to continue to develop personally and p(rofessionally/professionally) on the job. A â€Å"s(tatus quo/status quo)† is the situation as it is now, or as it was before a recent change. 8. A s(hareholder/shareholder) is a person who owns some of the equal parts into which the ownership of a company is divided. 9. Our general manager is in c(harge/charge) of running the company and for making joint strate gic decisions with the CEO.Unit 6 21. The treatment of a risk in one area may significantly increase the †¦Ã¢â‚¬ ¦ to risk in another area. contact exposure revelation disclosure 22. Failure to attempt †¦Ã¢â‚¬ ¦ the risks that can occur can easily result in a project riddled with potential for failure. managing manage to manage managed 23. While risk management has†¦Ã¢â‚¬ ¦ improved in the last decade, the risks have changed. undoubted undoubting undoubtedly undoubtful 24. Recovery plans of companies should include making certain their vendors and suppliers are also prepared for business †¦Ã¢â‚¬ ¦. interferences interruptions nterventions intrusions 1. The SIA offers a unique forum for dealing with health and †¦Ã¢â‚¬ ¦ issues that may impact manufacture or sale of semiconductors domestically. safety protection security well-being 2 We need executives who can manage strategic risks properly in addition to being able to †¦Ã¢â‚¬ ¦ decisive action whenever necessary. make take do work 3. The company is losing direction and its core products are losing †¦Ã¢â‚¬ ¦.. appeal appearance tempt picture 4. There was a marked growth in turnover, †¦Ã¢â‚¬ ¦ the group’s rapid expansion over the last decade. reflect reflects reflected eflecting 5. Implementing a systematic †¦Ã¢â‚¬ ¦ to workplace safety will require a cultural change in many organizations and within the safety profession. way methodology road approach 6. Company policy and workstation practice must dictate that safety never takes a back †¦Ã¢â‚¬ ¦ to other interests. chair sit seat row No one should tolerate a potentially disabling or life-threatening risk in the †¦Ã¢â‚¬ ¦ of cost-cutting, productivity or any other priority. name image title behalf It is impossible to †¦Ã¢â‚¬ ¦ all risk when entering a new market. legitimate designate imitate eliminate 9.Research show that one-third of the world’s leading companies have †¦Ã¢â‚¬ ¦ for i mprovement. place location area room 10. Unless businesses accept and review risk regularly, they could eventually find themselves in a state of crisis, struggling to survive †¦Ã¢â‚¬ ¦ focused growth. instead than but rather than Gapfilling 1. If a risk is n(egligible/negligible), it is so small that that it is not worth worrying about. 2. â€Å"A(ctuary/actuary)† is a person who calculates how likely accidents, such as fire, flood or loss of property, are to happen, and tells insurance companies how much they should charge their customers. . Many business leaders are s(cratching/scratching) their heads when it comes to protecting their business against risks. 4. Businesses that do attempt to manage these risks will boost their b(ottom/bottom) lines. 5. â€Å"H(azard/hazard)† is something that is dangerous and likely to cause damage. 6. Absenteeism is the practice of regularly staying away from work or school without good reason. 7. There is a lot companies can do to stop risky events from becoming a disaster in the first p(lace/place). 8. â€Å"C(raftsmanship/craftsmanship) is the skill at making things. 9.Joint v(enture/venture) is a commercial enterprise undertaken jointly by two or more parties which otherwise retain their distinct identities. 10. â€Å"S(take/stake)† is a share or a financial involvement in something such as a business. If the risk is n(egligible/negligible), it is so small that it is not worth worrying about. â€Å"D(icey/Dicey)† is an informal word which means the same as â€Å"risky†. â€Å"Economic b(lockade/blockade)† is a situation when a country or place is surrounded by soldiers or ships to stop people or goods from going in or out. Unit 7 26. †¦Ã¢â‚¬ ¦from Facebook, Fotobounce can also upload photos to Flickr.Away Apart Except Separated To be open and transparent as part of our commitment to boost public †¦Ã¢â‚¬ ¦ in publicly funded education. reliance possession confidenc e intimacy 28. Vehicle loan providers have set up internet †¦Ã¢â‚¬ ¦ where they allow clients to fill out loan applications on the internet. functions working operations actions 29. Yoox. com chose to launch in Europe first, close to the designers †¦Ã¢â‚¬ ¦ goods it sells. that which whom whose 30. We enjoy working with companies that want to †¦Ã¢â‚¬ ¦ the online world and generate revenue through the ‘ world wide web' (www). mbrace contain hold encircle 1 †¦Ã¢â‚¬ ¦biggest US retailers are developing integrated operations. Some of the Some the Some of Of the 2. The company has expanded well beyond its †¦Ã¢â‚¬ ¦ as a seller of books and CDs, acting as an online mall selling everything from gourmet foods to clothing. basis ground causes roots 3. JC Penney, the century-old department store chain, †¦Ã¢â‚¬ ¦ its Internet sales reach $600m last year. saw looked pointed stared 71. If you waste your company's money you could risk going bankrupt because th e money that you are wasting could be better spent else where. oing go to go went 72. If you †¦. customize a product or service, you make or change it according to the buyer’s need. customize individualize justify commercialize 73. Smarterwork does an excellent job of matching freelance†¦. professionals to organizations looking for particular skills. professors professionals employers recruiters 74. If you are †¦.. browsing the Internet, you are looking for information on it. seeking investigating browsing logging on 75. A directory is a book which gives a list of names, addresses or other facts. dictionary postal directory guidebook 76.Major players such as Coca-Cola are now seeing their Facebook pages receive more hits†¦ than their individual websites. comers guests strikes hits 77. A gourmet is a person who knows a lot about food and cooking, and who enjoys eating high-quality food. eater taster appetite gourmet 78. High-street products are those that a re intended for ordinary public and not for rich people. high-street low-street common usual 79. Russian internet company Yota has grown from †¦Ã¢â‚¬ ¦ to become one of the largest firms in the market. basics scratch nothing fundamental 80. Internet shopping is easier, more convenient and offer bigger†¦. nd a lot of the major retailers are having to get to grips with it because consumers are dragging them into the space. sorts goods ranges kinds 81. As we didn’t understand the potential impact of e-purchasing early enough, so we are lagging behind our competitors. coming stepping lagging walking 82. Our company will be able to compete in the new global marketplace only if we seize the opportunities present. seize Do Make hold Fillblank 1. Search e(ngine/engine) is a computer program which finds information on the Internet by looking for words which you have typed in. To l(itter/litter) means to spread across an area or place untidily. 3. A s(tart-up/start-up/ start up/tart up) is a newly established business. â€Å"A(utonomy/autonomy) is the ability to act and make decisions without being controlled by anyone else. 4. Bricks and m(ortar/mortar) is the term used to denote a business that operates conventionally rather than over the Internet. 5. M(ail-order/mail-order/ mail order/ail order) is a way of buying goods in which you choose what you want, usually from a catalogue, and it is sent to you. FillBlank Unit 1 1.As an instructor she has s(ense/sense) of humor, she is enthusiastic and sets long-span goals. 2. â€Å"C(orporate/corporate) i(dentity/identity)† is the characteristics of a  corporation  which is designed to accord with and facilitate the attainment of business objectives. It is usually visibly manifested by way of branding and the use of  trademarks. 3. To encourage effective communication between departments, the Trust was keen to adopt open p(lan/plan) office accommodation. Unit 2 4. The process of expanding b(eyon d/beyond) the domestic market can seem very intimidating and daunting for many small businesses. . If you state an amount per c(apita/capita), you mean that amount for each person. 6. An o(utlet/outlet) is shop that owned by a particular company and that sells the goods which the company has produced. 7. One of the big problems for smaller investors is getting a f(oothold/foothold) in the commercial property market. 8. F(oreign/forgeign) e(exchange/xchange) is the system by which the type of money used in one country is exchanged for another country's money, making international trade easier. Unit 3 9. If you b(reak/break) off a talk with someone, you stop it because you can’t find agreement. 0. ILT Services is set to b(uild/build) up a sales network for Poland, the Czech Republic, Slovakia and Hungary. 11. LABG is a student organization whose purpose is to f(oster/foster) the relations between Chicago Booth and Latin American people. Unit 4 12. The customer b(ase/base) is th e group of  customers  or  consumers  that a  business  serves. 13. A w(holly/wholly) owned subsidiary is a company whose stock is entirely owned by another company. 14. C(osmetic/cosmetic) s(urgery/surgery) is any medical operation which is intended to improve a person's appearance rather than their health. 15.If you o(utbid/outbid) someone for something, you offer more money than him or her to buy that thing. Unit 5 16. â€Å"C(omission/commission)† is the payment to someone who sells goods which is directly related to the amount of goods sold. 17. C(ommon/common) sense is the basic level of practical knowledge and judgment that we all need to help us live in a reasonable and safe way. 18. If you get a pay r(ise/rise), you have an increase in the fixed amount of money you earn for doing your job. 19. Like the rest of the world, Canada will face a labour c(runch/crunch/crisis/risis) in the next 10 years. Unit 6 20.Successful modern leaders should be supportive of staff, but should also take d(ecisive/decisive) action to maintain standards of behaviour. 21. A h(azard/hazard) is something that is dangerous and likely to cause damage. 22. Staff t(urnover/turnover) is the rate at which employees leave a company and are replaced by new people. 23. â€Å"A(bsenteeism/ bsenteeism)† is a habitual  pattern  of  absence  from a  duty  or  obligation. Traditionally, it has been viewed as an indicator of poor individual performance. 24. Financial services firms are ahead of the curve when it c(omes/comes) to risk management practices.Unit 7 26. A d(irectory/directory) is a book that gives a list of names, addresses or other facts. 27. A p(ioneer/pioneer) is a person who is one of the first people to do something. 28. M(ail/mail) o(rder/order) is way of buying goods in which you choose what you want, usually from a  catalogue, and it is sent to you. 29. If someone or something is home-g(rown/grown), they belong to or were develope d in your own country. 30. If a product or a service is e(xclusive/exclusive), it is expensive and only for people who are rich or of a high social class. IndicateMistakes Midterm 1.In the Harvard Business School professor Theodore Lewitt’s seminal paper The Globalization of Market, (written) in 1983, he argued that, as new media and technology shrank the world, people’s tastes would converge, (creating) a single global market that (would be dominated) by the world’s most (success) brands. 2. So when the Berlin Wall (fell) and the barriers (to) world trade (came down), it seemed Prof Lewitt would be proved (rightly). 3. Global brand owners (poured into) the (newly opened markets) and, facing (few competition) in countries (unaccustomed to) consumer culture, they thought they would clean up.Then some awkward commercial realities started to close in. 4. Once local consumers (had tried) these new products, they (found) them (far too expensively) to buy (on regular basis), even if they liked them. 5. And soon, local producers (sprang up) (offer) much better (value for money) with products of only (slightly inferior quality) at a vastly lower price. 6. (Usually), too, these products were (better suited) to local tastes and cultural preferences than (that) being (foisted onto) consumers by the global corporations. 7.The global brand owners were left (spreading) their advertising and other (fixing costs) over (tiny market shares) and often faced (extra costs), such as tariffs. 8. In (many of) these countries today, global brand owners command the (super-premium end) of he market in any (given product category), while local brands command (rest). 9. The global brand owners could try (to move) into the mass market by (creating) low-price products (design) to suit local tastes, but that would throw them into head-on competition with local companies possessing better distribution channels and a (far deeper understanding) of the market. 0. Increasingl y, therefore, they have resorted to (buying) local brands and the companies (whose) own them. And here, of course, (lies) the paradox. Whatever is the point of owning a global brand if it does not (work) in global market? Final exam 1. (On the surface), flexible working might (seem to be) about people (being) able to choose their working hours and, perhaps, spend some time (to work) away from the office. 2. But it is also (a fundamental change) in the way (people work)- and, (more importantly), the way (they managed). 3.Flexible working is (a shift) from â€Å"time-based† to â€Å"result-based† (working practices) and could herald the biggest change (for) the (workplace) since the (start) of the industrial revolution. 4. New employee legislation is one of the main (motivation) for employers (to introduce) flexible working practice-but not the only one. In Europe, for example, employers are obliged (to offer) parents with young or disabled children the right (to request ) flexible working. 5. While legislation is a major catalyst to (introducing) flexible working, there are other reasons.In the US, for example, the fall in the price of (mass market computer) and communications technologies (are) encouraging organization (to allow) more home working. 6. Flexible working is also (likely) to (appeal to) a wider skill pool and help with (staff retention). Marry Sue Rogers, human capital management leader at IBM Global Service, says that IBM has embraced flexible working (helping) with recruitment. 7. In Europe, companies have to (provide) flexible working (because of) legislation-but it is also a way (to recruit) from a broader skill pool, (include) women and older people. . (With) an (ageing) workforce we have to find ways to retain older staff. It also gives (greater scope) to male employees who (increasing) want flexible working to create a better work/life balance. 9. Although new legislation (is forcing) organizations (to adopt) flexible working p ractices, there are (sound) business reasons to give employees more (flexible). 10. Organizations which have (embraced) flexible working have found that it can (cut costs) and improve productive). More importantly, it enables them (to recruit) staff from much broader skill pool and retain staff.Resit 1. Management (at) large organizations do not embark (on) widespread and risky company restructurings (unless) they believe their businesses are (for) straitened financial circumstances. 2. And the potential long-term damage (with) company branding that can be done if staff and managers clash publicly (over) plans will almost always take a back seat (to) other priorities, such as getting the business back (into) profit. 3. Nevertheless, brands are (a key part) of the intangible assets that (is) playing an (increasingly) important role on company (balance sheets). 4.This (means) that it can be a serious issue for any business if its brands emerge as (tainted) in the long term by strikes and other industrial conflicts. If this is the (risky), how can corporations or other (branded organizations) reduce this danger? 5. Langford estimates that about a third of his clients’ problems (with respect to) this risk (are) caused by the behavior of their (staff); with industrial action and disaffected workers (be) the most common examples. 6. Poor industrial relations do not come about (in isolation). They reflect (on) the business (as whole) and the way (in which) it is being managed. 7.If the management think the brand is (something) (done) by the marketing communications department, (this) makes for very poor brand (strategic). 8. The danger here for service companies (is) that the impression of the brand (given) to the customer is often dictated by the (behave) of staff at the bottom of the (organization hierarchy). 9. Brands (represent) the (value) of the organization’s relationship with (their) customers. It’s the one thing (a competitor) cannot cop y. 10. Companies are not able (to insure) against (declines) in brand value, but often compound the problem by (not manage) the risk to (their) most valuable asset.Indicate mistakes Midterm (1-3) 1. The communication between companies and customers is (increasing) becoming two-way, with customers service centres (designed) to gather information, not just (complaints), from customers about (all aspects of use) of a company’s products. 2. (Some) say that first impressions (count). (Another) think that someone’s character can only be judged after a lot of (contact) in business contexts and socially. 3. A new trend for companies (to set up) e-marketplaces on the Internet (that) they work together (on) procurement of materials and parts.Suppliers can make bids (in competition with) each other. 4. When firms work together (on) a particular project, they may (enter) into a strategic alliance. This may (take the format) of a (joint venture) between two or three companies or a consortium between several organizations. 5. Globalization has (affected) marketing strategies in many ways. In the past, for example, the best way to enter a market tended (be) the main concern. Today, (by contrast), international marketers ask themselves whether it is better to standardize or to adapt a product (across) different markets. . (Finding) the right international mix has (become) one of the key (question), and answers vary (greatly) from company to company and from product to product. 9. HCPS is a private health care organization (based) in Geneva, Switzerland. It (offers) advice and (treat) to wealthy people and company employees (all over the world). 10. The HCPS group was (formed) a year ago, (following) a takeover of HCP by Sanicorp, another health care organization. Since the takeover, the company has become more centralized, with more decisions (is) made by the top management at (head office).Final (1-7) 1 It (estimated) that 90 per cent of (medium) to large compa nies that could not (resume) near-normal operations within five days of an emergency would (go out of) business. 2 While acts of terrorism receive the most (coverage), it’s the more traditional (events) such as fires, floods, explosions, power failures or natural disasters (who) have the biggest (impact). 3 To (best) protect cashflow, competitive position and profit, companies need to (access) the potential hazards that can (impact) top revenue sources and make sure (there is) business continuity planning. 4. Getting) to a (win-win situation) clearly requires (a number of) special skills, such as (make) concessions. 5. After 17 years of (lobbying) by Mr Greenberg, AIG was the first foreign (insurer) (being) allowed (in to) China. 6. Over the (past) six years, Samsung (fights) to move its brand image more (upmarket) to compete with (premium) names, such as Sony. 7. Pressure has (mounted) on Samsung to keep its (efforts). The company recently slipped back (into) third place beh ind Motorola (on) mobile handset sales. 8. It is clear that young people have a (huge impact) (over) their parents and older people (when) it comes to (choose) technology. . (On) the surface, flexible working might seem to be about people (be) able to choose their working hours, and perhaps, spend (some time) working away from office. But it is also a fundamental change in the way people work, and more (importantly) the way they are managed. 10. (Flexible working) is also likely to appeal (with) a wider (skill pool) and help (with) staff retention. Resit (1-7) 1 People are happiest not only when they are (respected member) of a team (they admire) (but) when the team and the company are respected by (the world outside). Being (part) of a (trusted), honest group is an indispensable component of employee happiness and engagement. So (is) (establish) ties with colleagues you respect. 3 Management at large organizations do not embark (on) widespread and (risk) company (restructurings) un less they believe their businesses are in (straitened) financial circumstances. 4. Brands (are) a key part of the intangible (assess) that are (playing) an increasingly important role (on) company balance sheets. 5. It can be a serious issue (for) any business if its brands (emerge) as tainted (in the long term) by strikes and (another) industrial conflicts. . (Figures) out from 2004 from Ofcom, the communications regulator, (showed) that more than 56 per cent of homes had internet (access), with a third of those (have) a broadband connection. 7. Externally, advertising has been the most visible (form) of communication (with) customers. (Usual) this is designed to increase product sales, but there is also institutional advertising, designed to improve perceptions of company (as a whole). 8. UK companies have failed in the past (prepare) their (staff) in key areas before (sending) them abroad. What’s new is that they are starting to (pay attention to) it. . While 89 per cent o f companies formerly assess a candidate’s job skills prior to a foreign posting, less than half go through the same process for cultural suitability. 10. Several department heads are unhappy because they can’t get a quick answer when they want to spend money, even small sums. When they ask their present line manager 1. In 1967, John Kenneth Galbraith argued that the USA (was run) by a handful of big companies (who) planned the economy in the name of stability. These were (hierarchy) and bureaucratic organizations (making) long runs of standardized products. 2.They introduced â€Å"new and improved† (varieties) with predictable regularity; they provided their workers (for) lifetime employment and they enjoyed (fairly) good industrial relations with the (giant trade unions). 3. That world is now dead. The US’s giant corporations have either (disappeared) or (be transformed) by global competition. (Most) have shifted their production systems from high-volume to high-value, from standardized to customized. And they have (flattened) their management hierarchies. 4. Few people these days expect (to spend) their lives (to move) up the ladder of a single organization.Dramatic changes (are taking place). But where exactly are they (taking up)? Where is the modern company heading? 5. These are three standard answers (to) this question. The first is that a handful of giant companies are engaged (with) a â€Å"silent takeover† of the world. The past couple of decades have (seen) a record number of mergers. The survivors are (far) more powerful than nation states. 6. The second (school of thought) argues (almost the opposite): it (says) that big companies are thing of the past. For a glimpse of the future, look at the Monorail Corporation, (that) sells computers. 7.Monorail (owns no) factories, warehouses or any (others) tangible assets. It operates in an office building in Atlanta. (Freelance workers) are designing the computers while (d emand) is still low. 8. The third (school of thought) (says) that companies are being replaced by â€Å"net works†. Groups of entrepreneurs form such a network to market an idea. They then sell it to the highest bidder and (move on to) produce another idea and to create another firm, with the money (is) supplied all the time by venture capitalists. 9. Another way (to look) at the future of the company is (to focus) on the environment that will determine it.That environment is dominated by one thing: choice. Technology and globalization opens up (ever more) opportunities for individuals and (firm) to collect information and conduct economic activity outside traditional structures. 10. While the age of (mass production) lowered the costs of products (for) the expense of (limiting) choices, modern â€Å"flexible† production systems both (lower) costs and increase choices. 11. Consumers have more choice over where (will they spend) their money. Producers have more choice o ver which suppliers (to use). Shareholders have more choice over where (to put) (their) money. 12.With (all that choice) around, future (company) will have to be very flexible in order to (quickly adapt) to the changing environments if they (are to survive). 1. The nation was (in shock). David Beckham, Britain’s most (beautiful) footballer emerged from his house on Monday morning (to allow) the world (photograph) a wound above his left eye. 2. Sir Alex Ferguson, manager of (his then team) Manchester United, had (lost his temper) after a defeat and(kick) a football boot, (which) hit the Beckham eyebrow. 3. In sports, more than in most businesses, the management tactics are (out in the open) for all to see.Not many managers try (to strangle) their subordinates-as Bobby Knight, a former basketball coach at Indiana University, (once do). But the ability (to inspire fear) has always been an essential tool of management. 4. (Lots of) successful chief executives (rule by terror). (N one), it must be said, (reaches) the standard (setting) by John Patterson, who built NCR early in the 20th century. 5. One NCR executive discovered he (had been fired) when he found his desk and chair (in flames) on the company lawn. Modern laws (on) constructive dismissal and employee harassment have put an end (with) such fun. . However, terror in the workplace is (making a comeback) these days. In an economic upswing, fear (goes underground). Workers are (scarcity), and therefore powerful; bosses must handle the talent (with) care. 7. When times (turn tough), the balance of power swings. As Hank Paulson, chairman of Goldman Sachs, (put it), in a speech that upset his staff, â€Å"in almost every one of our businesses, there are 15-20% of the people that really (adds) 80% of the value. † (In other words), 80-85% are largely redundant-and had better shape up fast. 8. Does fear really motivate?In sport, says Scott Snook, who teaches organizational behavior at Harvard Business School, â€Å"fear can become a barrier to (take) risks, (yet) can provide the essential emotional kick needed to (meet) a challenge. † Coaches need to (strike) the right balance in order to develop talent. 9. Yet (use) in boardroom, fear can be disastrous. Tony Couchman, a headhunter at Egon Zehnder in London, (recalls) the board of a large firm with a chief executive who so dominated his directors that they (rarely) questioned or challenged him. â€Å"Success in such a company depends on (having) a great leader and a steady market,† he argues. 0. Jim Collins, author of a book that explains why some firms (succeed in) making the jump â€Å"from good to great’ and (other) fail, found that the approach (to) fear was a key distinction among firms that he surveyed. He found that in the (truly) successful firms people were â€Å"productively neurotic†. 11. At Microsoft, for example, employees worry all year (at the prospect) of their annual meetings with Bi ll Gates, (who) even (being shouted at) would not hurt as much as (seeming) to be an idiot. 12. The (driving) fear of failure, points out Mr.Collins, is not unique (to) corporate life. â€Å"I’m self-employed, and I live with constant fear,† he says. â€Å"But I’m self-afraid. † That kind of fear is common among creative artists and also in professional services (where) the person is the product and lots of fragile egos have to (manage). 1. In its 30-year history, Nike had become the (undisputed) leader in sports marketing. But beneath the success (was) an Achilles’ heel. Nike is named (for) a woman – the Greek goodness of victory-but for most of its history, the company had been perceived as (being) mostly about men. . Could Nike do more to realize full potential of female customers? And how could it afford (not to), given the threats to its future with Air Jordan (ran) out of air and brands like Sketchers (digging) into the teen market wit h shoes inspired by skateboarding, not basketball. That was a huge question at Nike HQ. The launch of Nike Goddess was the (makings) of an answer. 3. For (many of) its history, Nike’s destiny was controlled by its founders, Phil Knight and his (running buddies), who designed up athletes in locker rooms and made the (executive decisions).But by throwing together a diverse team of people with different backgrounds and different levels of seniority, Nike has found that it can keep (many of) its core attributes while (adding) news sources of inspiration. 4. (Taking) the (combination) of star designer John Hoke and newcomer Mindy Grossman, vice president of global apparel. Hoke designed (the look) and (feel) of the first Nike Goddess store. 5. Then Grossman, whose career has included (helping) (making) Ralph Lauren into a retail icon, pitched the design ideas to Nike’s top retailers as stores within stores.Now it (looks) like Nike has a chance (to reach) a crucial objective : double its sales to women by the end of the decade. 6. Nike Goddess began (as a concept) for a women-only store, and there’s a reason why. (Many) of the retail settings in which the company’s products were found were a turnoff to female customers: dark, loud, and harsh- in a word, male. (On sharp contrast), the Nike Goddess stores have the comforting (feel) of a woman’s own home. 7. Designing a new approach to retail was only one element in Nike’s campaign. (Another) was redesigning the shoes and clothes (themself).Nike’s footwear designers worked (on) 18-month production cycles-which made (it) hard to stay in step with the new styles and colours for women. 8. The apparel group, (which) worked around 12-month cycles, was better at (keeping on with) fashion trends. But (that) (meant) that the clothes weren’t co-ordinated with the shoes-a big turnoff for women. 9. When Jackie Thomas, Nike’s US brand marketing director for w