Boldwood’s Christmas party Essay

Bathsheba Everdene is the primary character in a Thomas Hardy tale called â€Å"Far From the Madding Crowd†. Which is set in Wessex. Bathsheba’s character is alongside numerous different things unequivocal, lively, vain, systematic, and autonomous. Anyway you see her advance all through the book, for the most part because of her union with Frank Troy. Toward the start of the story Hardy appears to concentrate on her terrible characteristics, however you despite everything see individuals wishing to be hitched to her. Some great characteristics are appeared too like her mindful reaction to spare Gabriel’s life. Her first flaw is vanity. This attribute is referenced in section one, nearly everything else follows on from this. Vanity influences the manner in which she acts in a ground-breaking way. Her vanity drives her irritated and mad at not drawing in Boldwood’s consideration. At the point when she meets Frank Troy he plays up to her vanity by offering her praises and demonstrating her coquettish fondness. Before the finish of the story she shows that she has become out of or conquered her vanity. Rather than needing to stick out and have everybody taking a gander at her, at Boldwood’s Christmas celebration, she dresses down and needs to converge away from plain sight. You can likewise observe she isn't vain in light of the fact that when Boldwood acclaims her magnificence the remarks have no impact. Her background have caused this adjustment in her. The fundamental beneficial experience is her union with Frank Troy which influenced her the most. She changes from a sure character to an accommodating and contemplative figure she turns out to be less and less like her standard self. The principal sign you see of freedom is genuinely close to the start in section three, when we see her riding the pony. Rather than doing it the ordinary polite way we see her untruth level on her back on the horse’s back. This could be giving her freedom and flighty conduct, this would connect to an autonomous soul â€Å"too wild†. She gets a kick out of the chance to have autonomy so later on in the story when this is detracted from her we see her depend on Gabriel Oak. She generally had her own freedom, yet when she got hitched she lost that autonomy and we see her look for exhortation and help from Gabriel Oak. At a certain point in the story she dismisses Gabriel’s counsel, however later on in part fifty four she requests it. This shows a major change as a part of her character. She once would have done whatever her might feeling like doing and possibly sacked Gabriel for his ‘advice’ while she currently values both him and his sentiment. Her autonomy keeps on being appeared all through the rest if the story, much after her union with Frank Troy. Freedom alongside certainty is demonstrated when she goes to the corn advertise and is the main lady there. Another trademark indicated is certainty with systematic aptitudes. A case of this would be the point at which she willingly volunteers to sack her bailiff. â€Å"I have shaped a goals to have no bailiff at all†. Bathsheba’s certainty keeps on being appeared with her choice to pay the laborers herself in part ten. Bathsheba has a great deal of trust in herself. â€Å"In short I will astound you all†. This is said not long after her choice to have no bailiff when she is persuading the staff that she can oversee. The discourse gives her fearlessness sparkling and her faith in her own capacity. Towards the finish of the novel we see her locate an even harmony between the pomposity which she appeared through the start of the novel which caused her to show up loaded with herself, contrasted and when she had almost no certainty and depended on Frank Troy, to at last become an individual who can adapt all alone yet acknowledges she can't do everything as well as could be expected without help. Before we see her lose her fearlessness she shows she has confidence in herself by setting off to the Corn Market, making her the main lady present. One thing disturbs Bathsheba; the way that Boldwood is the main individual who doesn't pay heed to her. This absence of consideration demonstrates us how she needs to be the focal point of consideration; you could even go similar to calling her a consideration searcher. She will do senseless tricks trying to draw in people’s consideration. For instance the Valentine’s Day card. Bathsheba attempts to make herself famous with everybody particularly men; this is by all accounts her greatest want. In section thirteen she devilishly sends a Valentine card to Boldwood to stand out for him. This beginnings Bathsheba’s change. She needs individuals to see her and doesn't lounge around hanging tight she makes a move for herself. The sending of the Valentines card shows her vain trademark. A major trademark she appears all through is indiscretion, she gets things done without intuition. The Valentine’s Day card is a case of this; another case of this prior in the book is the point at which she pursues Gabriel Oak after he had been wrongly educated that numerous men needed her submit marriage; however she would not like to acknowledge his proposition. She didn't imagine that her activities would show this until after the discussion her and Gabriel had. A considerable lot of her activities are without much forethought she doesn’t thoroughly consider things first. Later on anyway she sets aside effort to consider Fanny’s grave and she chooses to tidy it up and replant the bulbs on it. This likewise shows she can be sacrificial. At the point when Gabriel offers her guidance right off the bat in the novel she chooses she doesn’t like what he needs to state. She sacks him while she was irate and acting exceptionally rashly. This shows how she doesn’t need to confront reality despite the fact that she esteems his feeling; later in the novel after the â€Å"drowning† of Frank Troy she yields approaching him for his musings.

A Portion of The Aging Population

As per Kidwell and Warach (2003) cerebral vascular mishap is a term that was usedâ to alluded to the misfortune mind functionsâ emerging from theâ issues in the veins that gracefully theâ cerebrum with oxygenated blood.CVA can be brought about by the ischemia or absence of enough blood flexibly to the mind because of an apoplexy, embolism or because of confusions from hemorrhage.The focal sensory system is basic to the body and in this manner absence of blood flexibly is probably going to influence different pieces of the body.â Mostly it prompts the powerlessness to move appendages on one side of the body, mutilated discourse and understanding, or visual impairment.â Today, the term stroke it generally utilized regarding cardiovascular mishap. The predominance of the condition has indicated that the matured populace is at a higher hazard contrasted with the remainder of the population.A malady of the agedThere are in excess of 500,000 instance of CVA in the United States recorded each year. This outcomes to in excess of 150,300 passings consistently because of direct assault like stroke or because of other crippling and difficulties. In excess of 30% bite the dust in intense phase of the assault while around thirty to fourth percent are seriously disabled.Statistics likewise uncover that in excess of 50 percent of people who endure their first CVA or stroke assault are over 70 years of age while ninety five percent of the all the assaults happens to people who are over 45 years ofâ age.Men, particularly those over 65 years are 1.25 occasions bound to experience the ill effects of CVA assault. Anyway since ladies live longer than men, 60% of the case happens in ladies since the hazard increment with headway in age. (Haase, 2006)Causes and contributing factorsCerebral vascular mishap (CVA) is brought about by an ischemic assault or discharge difficulties which assault the mind tissues prompting localized necrosis of cerebrum tissue through interfer ence of the cerebral blood flow.â An ischemic assault may keep going for not over five minutes but rather it has perpetual impacts since it harms the neural tissues which are unequipped for regeneration.The pathophysiological movement of the condition shows that three gatherings of people are at a higher danger of enduring a CVA or stroke. The main gathering incorporates those with the travel neurological occasions. The subsequent gathering incorporates those with the heart sickness which progressively incline them to embolism and the third gathering contain those with asymptomatic carotid bruit which is an indication of vessel blockage.â Mohr et al., (2004) contends that travel ischemic assaults fills in as a notice sign which demonstrate that a stroke assault can happen at any one time.This implies that we can distinguish two prime causes as an embolism and a hemorrhagic assault. An embolism can be isolates from the vein divider, travel to the mind and square the vessel coming about to stroke. Hemorrhagic strokes are brought about by tissue wounds which result to pressure of the tissues. This is primarily from a growing hematoma and can either misshape or harm tissues. The two most significant hazard factors are hypertension and blood vessel fibrillation.High circulatory strain or hypertension causes around thirty five to fifty percent of the all stroke cases. Hypertension may prompt a unit of embolism expanding the danger of blockage of CNS veins. Then again, blood vessel fibrillation represents around five percent of all instance of stroke.Other minor hazard factors remember high measure of cholesterol for the blood which increment the hazard for embolism, diabetes mellitus which builds the hazard for hypertension and hyperlidimia, Anticoagulation drugs like warfarin which increment the hazard for dying, surgeries and nourishment factors. (Mohr et al., 2004)

Television Show Decisions

Television Show Decisions So heres the story. Each year I allow myself to faithfully follow four one-hour television shows. Cutting out the commercials (bless you Tivo, bless you) means I can watch these four shows in about three hours, and three hours is about as much time as Im willing to waste on television each week. The problem? Im having trouble thinning the herd. Thats where you come in. The contenders: LOST Ive been an addict for two years. Clearly this will be one of the four; no need for discussion. Heroes I absolutely love this show. Definitely not giving this one up either. Americas Next Top Model I blame my wife for this. I vowed never to watch this show, ever. But my wifes a photographer and managed to convince me that the photos at the end make the show worth watching. They dont. But the drama between the models does. The Nine Wasnt considering this until Nance told me it was sortof like LOST because of the interplay between past and the present. Nance even told me that JJ Abrams had something to do with this show, which turned out to be a complete LIE, but its too late Im hooked. Jericho Incredible marketing campaign; I was hooked before Id even seen the first episode. Too bad the marketing was much better than the actual show. The first two episodes sortof blew, but I stuck with it, hoping that it would deliver eventually. Its gotten better slowly, but Im not sure if its worthy of being one of the final four. Problem: I need to know who Robert Hawkins really is. Veronica Mars My wife has been addicted to this show from the very first episode. I finally got sucked in this year its really good. Ugly Betty I had no interest in this show but my mom told me to watch it, so I gave it a shot. Its really well done, actually. I love her character. The OC Long-time readers will note that Ive never missed an episode of this show. But with Marissa gone, I dont have high hopes for this season. I feel like the show might be in trouble, but theres something to be said for viewer loyalty. Hmmm. House Another one of my favorites; I cant imagine cutting this one. I think Greg House is one of the best characters in the history of television. Thoughts? I imagine there are some shows out there that I havent seen yet, so if you really want to complicate things, feel free to add some to the list. :-)

Back Before Written History Monster Stories Were Passed

Back before written history monster stories were passed from person to person by word of mouth. There are hundreds of thousands of stories where monsters are exhibited throughout history. These monsters are just made up to scare or entertain people, the best kinds of monsters in stories are those that have hidden symbolism. The Epic of Gilgamesh and Beowulf, are two stories where there is heavy symbolism associated with the monsters. Both characters form relationships with the supernatural throughout their journeys. The monsters Gilgamesh faces act as distraction on his spiritual journey, while Beowulf’s propel him towards his destiny. In The Epic of Gilgamesh, Gilgamesh faces many monsters. These monsters represent the obstacles blocking†¦show more content†¦Then Gilgamesh’s weapon defeated Humbaba† (Gilgamesh Tablet IV). These passages of Gilgamesh’s interactions with Shamash can be compared to a Christians journey with God. A Christian prays mul tiple times when searching for answers just as Gilgamesh did. When he is swayed by sin (Humbaba’s aura) God will set him straight again. At times, many people may think that their prayers are going unanswered. Nonetheless, when they need it most God will come through for them, just as Shamash did for Gilgamesh during his battle with Humbaba. Even though it was very evident that Gilgamesh was connected to the supernatural through Humbaba, he did not further his spiritual journey. His fights with Humbaba and the Bull of Heaven delay Gilgamesh’s journey to becoming a great king. This journey begins upon the death of his closest companion, Enkidu. The slaying of Humbaba and the Bull of Heaven are only distractions for Gilgamesh. These two fights side tract him from becoming a great king. The death of his friend at the hands of the Gods makes Gilgamesh realize the value of life. He then searches for the key to eternal life; to escape the fate that his friend met. He tries multiple times to obtain his goal but is defeated by all the tasks. He then returns home and begs the gods for a chance to see EnkiduShow MoreRelatedLiterature and HIstory Essay1000 Words   |  4 PagesWithout books, history is silent, literature is dumb, science crippled, thought and speculation at a standstill.† Just like Barbara has mentio ned in her quote, literature always have reflected the historical event that was happening on the time the books were written. For instance, expansion of Christianity and the belief of immortal life through being a hero on their own epic, during Anglo-Saxon period is shown on the famous epic; Beowulf. Beowulf himself always summons the lord before his fightsRead More Comparison between Characters of Frankenstein Essay1513 Words   |  7 PagesComparison between Characters of Frankenstein      Ã‚  Ã‚   In Frankenstein, Mary Shelley combines three separate stories involving three different characters--Walton, Victor, and Frankensteins monster. Though the reader is hearing the stories through Waltons perspective, Walton strives for accuracy in relating the details, as he says, I have resolved every night,...to record, as nearly as possible in his [Victors] own words, what he has related during the day (Shelley 37). Shelleys shift inRead MoreAn Analysis Of Gregory Mobley s The Return Of The Chaos 918 Words   |  4 PagesChaos: the state of the universe before there was order and before stars and planets were formed (Merriam Webster). As defined, this state of disarray existed before existence of life itself was even possible. Hence, the chaos was a precursor for the opportunity of a higher being to take control of the universe. This is where the Old Testament comes into play-in the beginning God created the heavens and the earth. From that point on, the plot thickens as the characters battle to find order hiddenRead More Mary Shelly Essay examples1564 Words   |  7 PagesMary Wollstonecraft Shelly has written many books in her life. She has received much criticism about one of her books inperticular, Frankenstien. Frankenstein was one of her most famous novels. Shelly had written Frankenstein in order to enter a contest but what few people realized was that Frankenstein was one of many nightmares that Shelly had during her rough childhood. Shelly has become one of the most renowned Gothic authors because of her use of graphic descriptions and settings and herRead More Beowulf Society Essay1717 Words   |  7 Pages Beowulf Society The earliest known manuscript of Beowulf is thought to have been written in the tenth century, however, the poem had most likely been told as an oral tradition for centuries before that. In fact, the poem’s events date back to the sixth century. However, because there is only one manuscript of Beowulf still in tact very little is known about the poem or its author. The poem does, however, give us great insight into the culture of the people who composed and told this epic tale.Read MoreBeowulf Society1744 Words   |  7 PagesBeowulf Society The earliest known manuscript of Beowulf is thought to have been written in the tenth century, however, the poem had most likely been told as an oral tradition for centuries before that. In fact, the poems events date back to the sixth century. However, because there is only one manuscript of Beowulf still in tact very little is known about the poem or its author. The poem does, however, give us great insight into the cult ure of the people who composed and told this epic tale. BecauseRead MoreThe Victorian Era1706 Words   |  7 PagesThroughout history, cultures and societies across the globe have used monsters or any sort of creature to exemplify anxieties and fears that they have. The same can be said for works of literature and art. These authors use these anxieties, personify them, and use them to exaggerate the fears of the readers. In short, the monsters/creatures that are created in each literary era depict and personify the biggest fears and viewpoints of the society that it was written in. In the case of the Victorian/RomanticRead MoreBeowulf Archetypal Hero1431 Words   |  6 Pageswas written in 1000 A.D. The story consists of three thousand one hundred and eighty two lines that follow the life of the title character. The original author of the epic poem is unknown mainly because it started as a verbal tale passed down orally through the ages. Finally someone wrote it down in a docum ent now called the Nowell Codex. The epic tale is centered on Beowulf and his actions in an adventure to repay a debt owed by his father to Hrothgar, a Danish king. A gargantuan monster thatRead MoreThe Epic Of Epic Poems1106 Words   |  5 Pageshistorical events during the Middle Ages. With very little written records, epic poems were memorized and passed down as an oral communication for generations. Beowulf was an example of this type of story that may have existed for a century before it was documented. Unfortunately, due to this type of record keeping, there is no accurate account of the time frame that Beowulf was created or even by what author. It could be deduced that this story originated during the 6th or 7th centuries due to theRead MoreAnalysis Of The Book Marchers Of The Night 1726 Words   |  7 PagesWhats In The Night The retelling of spooky ghost stories has been a favorite activity in many cultures, wether it be around a campfire of written in various articles and book. Perhaps one of the most mysterious supernatural activities can be reported on the islands of Hawaii. Known as the Night Marchers, these spirits have been known to roam the land, revisiting ancient war sites and significant historical landmarks. In the book, â€Å"Marchers of the Night† by Helen P. Hoyt, a renowned Hawaiian author

Report Writing Online - the Story

Report Writing Online - the Story If you're looking to become into report writing of any sort, it is extremely important in order to separate facts from fiction, together with avoid your very own subjective opinions stating the true hard facts of the situation available. A report is simpler to write when a strong major idea exists. You've got a report due next week to give to the exact same group. Then add an increasing number of ideas around each circle as you plan the entire report in good detail. Regardless of the simple fact that sticking with the Five W's sounds easy enough on paper, it's quite normal for individuals to mix in some of their own opinion together with the objective facts associated with the report writing initiatives. Not everybody is gifted in the subject of writing. Our writers supply the whole spectrum of academic services to students throughout the map. In truth, it's possible to be an awesome creative writer, or a skilled screen writer whilst remaining completely clueless when it has to do with business. Being left with the job of developing a report can look like a punishment akin to torture. After you have disaggregated the issues, after that you can concentrate on which ones are definitely the most important. For instance, don't speak about a `paradigm shift' unless you truly have to, instead let them know about a different strategy or change of attitude or process. To go back to the hypothetical subject of the European Union, it would be perfect to exhibit your understanding of past and present policy but also stress what you consider the essence of future policy. Needless to say, it is possible to find many helpful tips regarding report writing, but it isn't a guarantee of a very good outcome. Or if you're just writing a report and on the lookout for tips. Take some time during the planning stage to experiment with diverse methods of structuring your report to find out what works best. Do not automatically think that the individual commissioning the report simply wishes to read the info. A CDR report is the secret to acquire a Skilled Migration Visa. Executives are busy men and women. Every one of the employees are liable for payment of insurance premiums. Every one of the employees are liable for payment of insurance. These days, technical reports, along with technical documentation, are published utilizing an on-line documentation tool. Also make certain you adhere to the structure. There's nothing complicated or difficult that you install, and you can begin using LaTeX at the moment, even in the event that you've never seen it before. It is comparable to reading a newspaper. The procedure for writing a tech report is just like writing documentation. Your headlines ought to be clear, without misleading the reader about what is in the subsequent section. Report writing is a skill which can be learned. Writing reports isn't difficult, even when you're not a writer or don't have any interest in writing. They are a common form of writing because of the inclusion of recommendations which are helpful in implementing the decision. Your Report Writing trainer is going to be assigned to you following the outcomes of your diagnostic consultancy in accordance with your objectives and regions of focus. Do the editing as soon as you have prepared your draft file, revise the content twice. Writing and editing is a rather wide category. Excellent editing still takes a human being. Writing and editing need a lot of interrelated abilities, and it's tough to understand what to include. Writing allows you to synthesize data and reconcile unique viewpoints The procedure for writing about your thoughts and arguments will naturally let you synthesize. Draw lines between various parts of the mind map to demonstrate how various ideas are connected. It's imperative to know the details that are particular to the sort of project you've got. Some projects need other sorts of software, like spreadsheets or video editing.

Why We Form Relationships Free Essays

Why We Form Relationships Corbin Smith Estrella Mountain Community College There are many reasons as to why we form relationships with a person. Appearance is one of those reasons. Most people claim that a person’s personality is the main reason why we get into a relationship with them and not by the way they look which is really not true. We will write a custom essay sample on Why We Form Relationships or any similar topic only for you Order Now There has to be some type of attraction towards their appearance because the way they look is extremely important in the early stages of a relationship. Even if your appearance isn’t considered beautiful by societal standards, people will find you attractive if you’re just ordinary-looking with an amazing personality that fits the other persons needs. Attractive beauty may open doors to a relationship but it takes way more than just being attractive to keep a relationship going. Forming relationships is the ultimate way to gaining attraction and love towards a certain person that you might want to be with for the rest of your life. Forming relationships is a skill that not many people consider to be important but it’s a skill that most people want so they can find their lifelong partner. My understanding of this skill is that we all have used it at some point in our lives to form relationship, whether if it’s just a friendship or more than that. Like I said before, appearance is one of the main things that jumpstart a relationship but it won’t be the only trait that’ll keep a bond going. Similarity, complementary, competence, disclosure, proximity, and rewards are all factors in how relationship is formed. I’ve used this skill plenty of times because I’m a person who loves to make new friends and meet new people every single day. Whenever I get the chance to meet someone new, whether if I’m attracted to them or not, I try not to miss the opportunity. I met a girl in the beginning of this semester who is just the most gorgeous girl I’ve seen at this school so far. I had to take an opportunity to get to know this girl and fortunately, she gave me the light of day and now we both are really good friends. Not only does she look beautiful, we both have many of the same similarities such as music taste, fashion sense, and other amazing things. When I met her, I used her appearance to draw me to her and from then on, it was the similarities and complementarities. By me using this skill, there have also been several consequences. I’ve been shot down by many girls many times because of me being too confident and by trying to get to know them way too fast. Unfortunately this skill doesn’t always work to our advantage but it doesn’t hurt to try it. Like the old saying goes, â€Å"You’ll never know for yourself until you try. † I live by that saying because you can’t live your life in fear of getting rejected by people you’re attracted to. Just take the chance and run with it. The reason why this skill doesn’t work all the time is because of the mindset of the person that you’re attracted to. Is that person already in a relationship? Is that person not looking for a relationship even though they are single? Is the person you’re attracted to not attracted to you back? There are many reasons as to why the negative effects might take place. Overall, never skip out on an opportunity to possibly engage in a lifelong friendship or relationship. You’ll never know the outcome until you try. â€Å"For communication to have meaning it must have a life. It must transcend ‘you’ and ‘me’ and become ‘us. ’ In a small way we then grow out of our old selves and become something new. † – Hugh Prather How to cite Why We Form Relationships, Essay examples

Technology Then and Now free essay sample

During the industrial revolution many inventions were created to do just that. For example, in 1733 the flying shuttle was invented by John Kay. The flying shuttle doubled the work a weaver could do in a day. Next, there was the spinning wheel invented by John Hargreaves in 1764. The spinning wheel was made to work 8 threads at the same time. Lastly, in 1769, Richard Arkwright invented the water frame, which used waterpower from rapid streams to drive spinning wheels. These are just a few of the many inventions that have influenced the world we know today. Before John Kay invented the flying shuttle in 1733, it took a long time for weavers to produce cloth. After, they were able to speed up the process of making the cloth with this shuttle that was a boat shaped piece of wood, and sped back and forth on wheels. Also the flying shuttle boosted profits, because there was more product being produced. We will write a custom essay sample on Technology Then and Now or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This invention spurred a change in the textile industry, but soon there would be an even more convenient invention to top the flying shuttle, because of the speedy weavers that the spinners could not keep up with. James Hargreaves invented the next big step in the textile industry, the spinning wheel, a. k. a the spinning Jenny in 1764. He named his spinning wheel after his daughter. The spinning wheel made it possible to work 8 threads at the same time. Cash was awarded to the inventor of a new, and better version of Kays flying shuttle, or spinning machine. Both at first were operated by hand, but later there would also be an even more convenient way to produce the desired product quicker and easier. Finally, in 1769 Richard Arkwright invented the water frame which made working a spinning wheel more efficient, and prevented the spinners from having to use their hands. Later, in 1779, Samuel Crompton combined parts from the spinning wheel, and the water frame, to produce the spinning mule. Which made better thread, that was stronger and finer and was more stable than past spinning wheels. The water frame, and spinning mule made the whole weaving task easier and quicker. So the invention of the flying shuttle had a domino effect on the textile industry. They started off with Kays flying shuttle that doubled the production of cloth produced in a day. Then they moved to Hargreaves spinning wheel, which multiplied that number, and enabled the spinner to work 8 threads at one time. But it all led up to the invention of Cromptons spinning mule, which was the combination of the spinning wheel, and Arkwrights water frame. These eventually led to the machines used today to produce mass amounts of cloth. These inventions, among others are important because they have led us to a bigger and better way of producing goods.

buy custom Analyzing an e-Business essay

buy custom Analyzing an e-Business essay PepsiCo is an American multinational corporation that formed in 1965 with the merger of Pepsi-Cola and Frito-Lay, Inc. and deals with production, marketing, and distribution of beverages and grain based snack foods. PepsiCo has its headquarters in Harrison, New York with its presence in four major divisions. In 2009, PepsiCo Americas Foods, which deals in foods and snacks in North and South America, contributed 43% of the total PepsiCo net profit. There is also PepsiCo America Beverages, a division that markets both carbonated and non-carbonated beverages in North and South America. Other divisions include PepsiCo Europe and PepsiCo Asia, Middle East and Africa. Globally, the company is the second largest food and beverages company and it operates in more than 200 countries In 2009, PepsiCo collected total revenue of $43.3 billion, and was rated the largest food and beverages company in North America. Pepsi Corporation distributes a number of brands, the key ones being those that generate annual sales of more than $1 billion each. These brands include Pepsi-Cola, 7Up, Fritos Mountain Dew, Gatorade, Doritos, Pepsi Max, Quaker Foods, Tropicana Cheetos, Miranda, Ruffles, Aquafina, Tostitos, Sierra Mist, Walkers, and Lays Lipton. Amid distribution of the brands, PepsiCo engages in charitable activities and environmental conservation programs like water usage in U.S, India and U.K, packaging and recycling, energy usage as well as pesticide regulation in India to ensure that the environment and the available resources are utilized properly. PepsiCos advancement in ecommerce has been evident, and that is the focus of this report. Project and Its Place within the Organization Changing to ecommerce involves fully understanding the normal offline transactions and applying the principals of electronic funds transfer and electronic data interchange. Ecommerce also includes Internet marketing and inventory management systems through the World Wide Web, especially for virtual items. Changing to ecommerce entails complete overhaul of marketing techniques to accommodate new internet marketing strategies, electronic payments and training of employees to match the new electronic commerce and business. PepsiCos adoption of ecommerce led to the collaboration with Yahoo. In the deal, PepsiCo would promote Yahoo on 1.5 billion soft drinks bottles displayed in 50,000 stores. In return, Yahoo would promote PepsiCo products on Yahoo cobranded site called Pepsistuff.com. This promotion started in August 2000 and has since led to advertisement cost minimization due to its ability to reach more people at ago through the website. What does not work, according to Burwick, PepsiCos former marketing manager, is an advertising approach on television that in his view only entertains and moves. However, Burwick notes that internet advertisement on the website provides a platform for interaction, which is a more active experience that is likely to have a more positive impact on sales. This web advertisement that included music sites, banner advertisement and internet sweepstakes and barter arrangement with Yahoo, helped PepsiCo establish loyalty among its customers, greater brand exposure among its consumers under 25 years old and at the same time obtained relevant data that enabled the company respond to customer demands. Pepsi also uses the extranet strategy where customers flash their names and continue the marketing efforts of tweaking websites. Other than its websites, PepsiCo has currently upheld its ecommerce strategy on Twitter, Facebook, and YouTube, which are social sites that provide interaction opportunities for millions of potential customers around the world. This has helped improve popularity of the corporations 19 major brands in all the four regions, and contributed to the revenue collected in 2009. Marketing the products plays a very important role in the consumer goods companies that consume $40 billion annually on non-internet advertising. Ecommerce in this regard plays a vital role in marketing, distribution, supply chain management, ordering and delivering of the products to the clients in all the four major regions. This strategy helps PepsiCo eliminate intermediaries in its business since consumers can order products directly. The company can also use banners on top of web pages to convey the information about its products. However, this has been eliciting responses that banners are too small and limit th e amount of information that can be conveyed through them. Besides Pepsistuff.com, PepsiCo also uses its website in providing information to all its customers and potential customers on the available products and the ordering and purchasing procedures as well as the charges involved for deliveries. The strategy of e-business is multifarious, is more focused on these internal processes. Its objective is to reduce costs while improving efficiency, as well as reducing costs while improving productivity. E-business includes ecommerce, and both address internal processes and technological infrastructure like application servers, security, databases, and legacy systems. E-commerce and e-business involve generating new value chains amid stakeholders, such as a company like PepsiCo and its clients. Original Business Model Employed By PepsiCo PepsiCo initially used non-internet advertisement that included high impact television spots that were prepared to evoke emotional reaction among its customers, appealing to woe customers to purchase. The company also minimally used PowerPoint presentations of its products to that are flashed on the websites. According to Hill Jones , PepsiCo changed its business model and the manner in which it differentiated its product. Before adoption of the ecommerce initiative, PepsiCo fully depended on five regions that include North America, South America, Europe, and Asia regions (including India) in manufacturing, marketing, and delivering. These activities constituted manual offline transactions. Any changes to the business model were necessitated by introduction of the e-Business initiative. The marketing, ordering, inventory management strategies, and the payment methods changed to adopt ecommerce methods. These necessitated change in PepsiCos organization structure and reduction of marketing staff and the cost of advertisement reduced by nearly 20% in 2010. Through e-business, PepsiCo was able to effectively cut human errors and evade uneconomical duplications of duties that add little or no value to the business. Consequently, this saved the company business time, colossal amounts of resources. The introduction of ecommerce into PepsiCo also improved the speed, accuracy, and efficiency in which processes are carried out in the corporation, leading to increased productivity. E-business guarantees proficiency in communication within PepsiCo and reduces turnaround time in ordering, delivery, and payment of products, as well as fostering faster decision-making process. The networking brought about by the use of Internet services gave PepsiCo an opportunity to easily compare and rate its products against those from its competitors in terms of quality, availability, and pricing. Strategic Components of E-business Planning for the changeover to e-business from the offline business is a strategic component that determines the success of the ecommerce strategy. It involves action plans that include making available the amount of capital required, trained human resource, information technology skills, technology hardware, such as computers and internet connections. This component of e-business dictates the decision on implementation methods and tools used in the changeover, depending on strengths and weaknesses of the business and the opportunities presented by ecommerce according to the vision and mission of the PepsiCo. Ecommerce business is an area faced with several risks. Therefore, companies need to understand it well to ensure that they are protected against such risks. PepsiCo faces such risks as well. Some of these risks include loss of merchandise as a result of fraud, misrouting during distribution process to wrong destinations (majorly when the merchants are untrustworthy and untraceable), leading to loss of both goods and money. Any businesses adopting ecommerce should ensure that third party merchants are well known, registered, and traceable to curb the loss of customers merchandise and money to potential fraudsters. This is also applicable to the risks of customers disputes of the delivered goods leading to loss of payments. PepsiCo needs to ensure that during ordering, customers provide adequate information to be able to distinguish genuine customers from fraudulent orders. This will reduce the loss money through credit card payments, which poses impacts both on the company and mercha nts who are forced to pay the bank charges to compensate the losses. Accuracy in processing the transactions remain key to efficient deals to avoid experiencing chargeback costs that also occur when customers dispute the transactions sometimes due to inaccuracy in the amount involved, errors in processing, authorization errors and fraudulent issues. These costs can be avoided if transactions are accurately and efficiently processed. Therefore, this means that the new ecommerce technology should be well understood before the implementation stage takes effect, to be able to seal all the possible loopholes that are likely to give way to losses. Provision of adequate infrastructure system that warns new clients who are not conversant with purchasing on the Internet is important in proving authenticity of the company. These systems should be in a position of protecting clients passwords to sensitive personal information like credit cards to avoid exposure to fraudsters and at the same time authenticate transactions when dealing with fresh clients before cl osing the purchase orders and delivering the products to the customers. Technological components must also be put in place for a company that needs to grow in the modern business environment that is full of competition through the use of high technology machines. The technological platform where e-Business is carried out involves of technologies that have to be tailor-made, tested out and integrated into the business. This component is one of the essential e-business components that include widely approved technological standards and requirements that generate technical procedures and platforms than computers, but can be used to pass information. Technology infrastructure involves reliable Internet connections and adequate machinery, such as computers and browser connections. Technological constituents, such as middleware, are important since they help build broad and complex e-commerce systems. Employee development is strategy that works well for many companies, including PepsiCo. Employees first need to be prepared for the change to avoid unnecessary resistance during the implementation stage. Employee development also involves training workers to be technology compliant and improve their IT skills, which are mandatory in ecommerce having in mind that technology innovation and improvement takes place every time. PepsiCo needs to train its clients on how to access information from the companys websites without risking exposing their information to non-deserving people, such as credit card fraudsters. This training can be done through seminars and online information that can be accessed by all existing and potential customers. Many clients are very skeptical when it comes to online purchases due to the widespread Internet fraud and may only be willing to do business with very organized and secure sites. PepsiCo also needs to segment its market during marketing and advertisement of the products. This segmentation can be done in terms of age, social class to provide products that all social groups can afford, and ensuring availability of these products from the distribution stores for the retail customers at all times. Reasons for Success and Of Pepsi Product Differentiation and positioning One reason that has led to the success of Pepsi products is the differentiation of its brands that have been established and have built customer loyalty in those regions. Product positioning remains vital in building customer loyalty. This can quickly be done through internet marketing, which reaches more people at ago all over the world. Planning and New Technology The companys first strategy involving agreements with Yahoo picked up well and were very successful because of adequate planning, as well as embracing of the new digital technology. Other reasons include adequate planning, employee development, good management kills, infrastructure, and risk management systems. Reasons for Lack of Success and Of Pepsi Fraudulent transactions Fraudulent transactions that have always mired online transactions that make the merchants and clients lose both merchandise and money are the loopholes that have hampered Pepsis success. Thus, they need to be sealed in order to drive businesses to higher levels. Analysis of the PepsiCo Initiative PepsiCo being the second largest food and Beverage Company has very strong financial base, which is enough to implement the ecommerce strategy. Training of employees on the new internet marketing skills, supply chain management, inventory management. Implementation of the ecommerce Technology in PepsiCo involved provision of the computer gadgets and internet connection that to provide necessary platform for the change to e-Business. PepsiCo also offered in-house trainings to the staff to be technology compliant ready to execute the ecommerce operations. The major stakeholders of the PepsiCo are the suppliers, customers, government, employees, and the management. The companys consumers need to utilize the ecommerce platform to order and pay for products conveniently, while maintaining and managing internet security risks. The internal control systems that are used to authenticate transactions need to be fully outlined with clear chain of command. The improvement of the technology has also provided good business growth opportunity enhancing PepsiCos strength in the market. The involvement of the society, production of healthy products with low sugar levels favorable for children, guarding them against health and lifestyle related diseases like obesity, diabetes, and the environmental protection projects, gave PepsiCo business advantage over its competitors, such as the Coca-Cola company. PepsiCo does this by converting its product portfolio, forming global initiatives like calorie labeling to increase nutrition education, and backup up programs that promote physical fitness centers. Responsible Electronic Marketing In the ecommerce, PepsiCo has adopted a responsible electronic marketing strategy that teaches children that good eating habits at an earlier age contribute to their future health. PepsiCo adopted a policy in 2009 not to advertise and sell certain products that do not meet specific nutrition level to children under age 12. The policy took effect in 2009 for beverages globally and all snacks and food in the whole world on January 1, 2011. Pepsi plans to stop selling full sugar soft drinks directly to primary and secondary schools across the world by 2012. This policy is to help schools to provide a wider range of low-calorie and nutritious beverages to their students in primary and secondary schools. PepsiCo plans to implement this policy fully by January 1, 2012 and it has announced this interest on the Internet. PepsiCo does not currently sell directly to primary and secondary schools full calorie drinks in Europe, Canada, and a number of countries in the Arabian Peninsula. Currently the use of iPhone has spread to users many including school going children who can easily access the information. For this reason, PepsiCo implements the responsible e-marketing strategy to ensure that information reaches the only relevant people. Reasons for Not Adopting the Ecommerce In as much as technology is acceptable, many online clients have since withdrawn from transacting businesses over the internet due to the widespread internet crimes committed by fraudsters. Many clients have expressed reservations and they prefer offline business transactions to e-business. Bad experience of wrong delivery and erroneous processing of transactions has also contributed to the failure of ecommerce initiative. Pepsi should not just adopt Ecommerce marketing coverage strategy since it focuses on differentiated marketing, they should also consider other aspects that accompany the marketing strategy. Many clients do not have sufficient IT skills that are required in carrying out e-business. This gave the changeover a slow start in some regions, including India, with many insisting on continued offline transaction. Conclusion Ecommerce and e-business have become the order of modern business. Many companies than need to compete have adapted the two innovations. Ecommerce and e-business involve the use of the Internet in the transaction of goods and services from production, order, delivery, marketing, and payment for the purchased goods and services. PepsiCo is one of the companies that have adopted ecommerce for about ten years and have used the new technology in inventory management, supply chain management, Internet marketing and electronic funds transfer. PepsiCo is an international company that deals in beverages and foods snacks in four major regions in North America, South America, Europe and Asia and African markets with a number of products like Pepsi-Cola, 7Up, Fritos Mountain Dew, Gatorade, Doritos, Pepsi Max, Quaker Foods, Tropicana Cheetos, Miranda, Ruffles, Aquafina, Tostitos, Sierra Mist, Walker's and Lay's Lipton. The company uses the Internet to market and sell these brands. Several strategies ensure all the stakeholders are successfully navigated through the navigation period. These include adequate planning, employee development, good management kills, infrastructure, and risk management systems. Buy custom Analyzing an e-Business essay

What to do if your year starts off terribly

What to do if your year starts off terribly Most of us have high hopes every time we ring in a new year- we imagine that new opportunities, better luck, and greater fortune are just waiting for us as we end one year and start fresh in a new one. However, for many of us these high hopes are quickly met by a different reality when our year gets off to a bad start and we start to get the sinking feeling that maybe things haven’t changed all that much. Perhaps it’s a resolution that you set up for yourself that you’ve already dropped the ball on, or maybe it’s a goal that’s already starting to seem more and more unattainable as the days wear on, or maybe you’ve just hit a wall of plain bad luck.If any of this sounds familiar and you’re feeling as if your year is already off to a bad start, that doesn’t mean you have to give up or accept the grim fate that you’re inevitably going to have a bad year. There are effective strategies for turning things around if your new ye ar has gotten off to a bad start. The Muse published an article about what to do if your year gets off to a bad start, and the following tips can help you make your next move a smart one!Regroup and start over.One unfortunate side effect of having a bad start to a new year is that it can set you up with a negative mindset for the rest of the year, which can lead to a self-fulfilling prophecy. You assume things are going to go bad, so you approach new opportunities and goals with the expectation that they won’t pan out. And guess what? You’re setting yourself up for failure to happen. Not a great way to face a new year!Instead of letting early failures or unfortunate occurrences derail you completely, take a moment to stop, regroup, and reset your head to a more positive, focused, and optimistic mindset. This way, you’re setting yourself up for a healthy pivot- away from bad luck and misfortune and towards ensuring that you approach each opportunity in a positive and productive manner, which will help set you up for future success.Learn from mistakes.More often than not, we’re the architects of our own misfortune. This means that when our year gets off to a bad start, there’s likely a reason behind it- and it’s one that stares us right in the face whenever we look in the mirror. Rather than accept defeat when our year gets off to a bad start, try and turn unfortunate events into learning experiences and figure out what we did wrong.Take time for some serious self-reflection when you hit a bad patch and determine what happened. Could you have done something differently to improve an outcome? Are there lessons that you can take with you as you encounter new experiences and opportunities throughout the year? If so, then turn these experiences into something valuable that can help set you up for a reversal of fortune as the year unfolds.Create a new path.The simple truth is that sometimes the grand plans we set for ourselve s don’t work out- whether it’s due to something we did wrong or something completely out of our control, life happens and sometimes our goals simply fall out of reach. Also, sometimes the things we want simply change. A goal you set for yourself at the end of last year may no longer reflect what you want in the new year as time goes on. That’s okay! The key takeaway here is to allow yourself to move away from a goal you set for yourself and embrace a new one, provided it makes sense to do so and it’s not just the result of you giving up.There you have it- some proven strategies for getting your year back on track if it starts off on the wrong foot. Use these tips to help ensure that you’re setting yourself up for a happy and successful year!

Business enviroment - ECONOMICS Essay Example | Topics and Well Written Essays - 1500 words

Business enviroment - ECONOMICS - Essay Example The UK construction industry has witnessed a fall of nearly two percent in construction activity during 2010 compared with last years 12 per cent drop and is expected to remain in recession. It is estimated that by the end of 2010, construction industry will have lost  £16 billion of work in just three years and the growth is not expected to return until 2011 and even then it is forecasted to be relatively subdued at just one per cent per year in the consecutive three years coming. An interesting factor to be observed here is regarding the private Vs public construction companies’ progress. Over the past one and half year, private sector construction fell by almost 20 percent, losing approximately  £14bn of work and a further fall of four per cent is anticipated during 2010. However, the public sector construction, on the other hand, rose due to government’s fiscal stimulus and contractors on government frameworks were able to take advantage of some of the falls experienced from the private sector. There are high chances that this trend is set to reverse in the near term as a result of economic recovery set to lead to a rise in construction funded by the private sector. On the other hand, the state of the public finances is likely to lead to a deep fall in public spending on construction. Critical fact lies in spending on public schools and housing, as well as on energy and transport infrastructure and they are not cut sharply, otherwise recovery for the construction industry might be delayed and consequently, the economic recovery in the UK might be severely hindered. 1. With some new contracts signed, in addition to existing work brought forward through governments fiscal stimulus, orders rose 60 per cent during 2009 and although the number of roads projects signed in the last first quarter of 2010 has remained broadly flat compared to

Essentials of Strategic Management Research Paper

Essentials of Strategic Management - Research Paper Example They offer an online service of renting movies whereby one has to subscribe. There are subscription fees that are usually paid on a monthly basis. Most of the industries that embrace technology, more so electronics, are known to be very competitive. This is the same case with rental industries where Netflix is facing stiff competition from some other organizations like Blockbuster who are offering almost the same services. Netflix has to lay down critical strategies that will help it to retain its position in the movie industry. There is a need to have a fertile basis of technology to ensure that they are able to cope up with technology that is changing at the speed of lightning (Barringer, 2010). Thesis Statement Rental industry is one of the risky businesses to venture into because of some reasons. The main reason is that it deals with the technological skills that you employ and how. An organization may make any cash from this trading while another one may incur high losses at the same time. This paper will look at some essential ways and methods that can be employed in this business. It will be based on a sample case study of Netflix, which is one of the successful tradings in the industries. As managers of other organizations in the industry, what would be important to consider being successful? Improvements do not come up abruptly thus there is a procedure that must be followed to the latter to get to that better place. This is only through proper planning and proper research. All the companies in this strategy have their own marketing structure that ought to be structured in accordance with changes in the market and technology. All this will be analyzed in depth with regard to Netflix (Olsen, 2011). Netflix Current Situation As compared to other companies in this industry, Netflix has the highest number of subscribers. The sales that are done on a daily basis are high however at times they have been observed to be low. The market structure is therefore n ot constant. In 2002, a case study carried out showed that there were around 190,000 discs sold per day to the 670, 000 subscribers. This number of subscribers grew from that number to around 8.4 million at the end of 2008. Currently, the number of customers is estimated to be 23 million. The company is the highest selling in America covering over 75% of the continent. The company has not yet ventured to other business places apart from America however it has some plans that are still cooking to venture into United Kingdom (Olsen, 2011). The subscription fee in this industry, usually on a monthly basis has been changing but the range is between $4.99 and $17.99. The main reason that this has been changing is the fluctuations of the subscription fee in other rental companies more so Blockbuster who has been working hard to ensure that their subscription fee is below that of Netflix. To fight the changing monthly subscription fees, the company set a one percent deduction fee on the to tal based on the overall annual fee. There are also Netflix plans in place for people to rent many DVDs will get a reduction in the total. This company is offering rental services online; people can also watch movies online, together with TV shows. Online streaming is aimed at getting users who rely on other electronics apart from computers, for instance, iPod users, and smartphones users.

Analysis Of RSA Algorithm Communications Essay

Analysis Of RSA Algorithm Communications Essay To protect and hide data from malicious attacker and irrelevant public is the fundamental necessity of a security system. So for this reason for hiding data many cryptographic primitives like symmetric and asymmetric cryptography, digital signatures, hash functions etc. The symmetric cryptography consists of same key for encrypting and also for decrypting the data. Where as asymmetric cryptography takes advantage of a pair of keys to encrypt and decrypt the message. These keys are public key and a private key. The key which is distributed to other and which is publicly known is known as a public key and the key which is kept secret is known as private key. These two keys are needed simultaneously both for encrypting and decrypting the data. Public key will encrypt the data where as private key is used to decrypt the data. Asymmetric cryptographic should satisfy following properties. They are: Key generation process must be computationally efficient. By using the public key of the receiver the sender must be able to process the cipher text for any given message. By using the private key the decryption of cipher text into plain text should be done by the receiver. It will be impossible to compute like encrypt or decrypt the data without either of the key. RSA was designed by Ronald Rivest, Adi Shamir, and Len Adleman. It is an asymmetric cryptographic technology. As in asymmetric cryptographic encryption the public key is known by everyone where as the private key is kept undisclosed. For decryption of data which is encrypted with the public key, private key must only be used. Integers between 0 to n-1 where n is the modulus are taken as cipher and plain text. This n is generally 1024 bits. But the suggested length of n is 2048 bits instead of 1024 bits because it is no longer secure. Algorithm of Key generation: The following steps describe how a set of keys are generated. Two different prime numbers are selected which are not equal. Say p and q. this numbers are of same bit length. Determine modulus n where n=p.q Process or calculate à Ã¢â‚¬  (pq) =(pà ¢Ã‹â€ Ã¢â‚¬â„¢1)(qà ¢Ã‹â€ Ã¢â‚¬â„¢1). Here à Ã¢â‚¬   is totient. Select an integer which is public exponent e, such that 1 Calculate d. This can be calculated by using modular arithmetic. This should satisfy de=1. Now this ed-1 should be evenly divided by (p-1)(q-1) . Here (n,e) is the public key which is used for encryption and (n,d) is a private key which is used for decryption. Encryption: The following steps describe the how encryption is done in RSA algorithm. It is illustrated with an example where in two imaginary characters are described Alice and Bob. As we know that public key is (n,e) this is transmitted by Alice to Bob by keeping her private key secret. A message say M is wished by Bob to send to Alice. Before sending the message M it is converted into an integer 0 Get the public key which is (n,e) Plain text integer is represented by m. Calculate cipher text as shown c=me Cipher text c is send to the receiver. Decryption: Now when Alice receives the message sent by Bob, she regains the original message m from cipher text c by utilizing her private key exponent d. this can be done by cd=m (mod n). Now she can recover M once she regains m by using Padding scheme. This is shown as cd = (me)d = med (mod n). Since , med = m1+kq(n) =m(mq(n))k =m (mod n) . By this we get the original message back. This can be shown in following steps. Private key (n,d) is used by receiver to calculate m=cd mod n. The plaintext m is extracted. Computational issues of RSA: Selection of the two prime numbers p q: In the very first step p is selected from a set of random number. After this it is ensured that p is odd by setting its highest and lowest bit. Finally p is made prime by applying a Miller Rabin algorithm. Choosing the value of e: By choosing a prime number for e, the mathematical equation can be satisfied. That is gcd(e,p-1) = q. Among these three numbers which are 3, 17 and 65537 e is chosen for fast modular exponentiation. Calculating the value d: It is determined by Extended Euclidean Algorithm which is equivalent to d = e-1 (mod q(n)). Modular exponentiation algorithm: This step of RSA is calculated by following mathematical equation: AB mod n = ( Security of RSA: RSA cryptosystems security system is not so perfect. Many attacks are present like Brute Force attack, Timing Attack, chosen Ciphertext attack and Mathematical attack are some prominent attack. Brute Force Attack: In this attack the attacker finds all possible way of combinations to break the private key. If the length of the key is long then it will be difficult for Brute force attackers to break the key as the possible combinations will exponentially increases rather then linearly. RSA uses a short secret key to avoid the long computations for encrypting and decrypting the data. If the key is long the process will become little slow because of these computations. Since RSA uses a short secret key Bute Force attack can easily break the key and hence make the system insecure. Mathematical Attacks: Since RSA algorithm is mathematical, the most prominent attack against RSA is Mathematical Attack. In the following way an attacker can attack the mathematical properties of RSA algorithm. * By finding out the values of p and q which are prime factors of modulus n, the à Ã¢â‚¬  (n)= (p-1)(q-1) can be found out. By finding out this it will be easy to find d = e-1(mod à Ã¢â‚¬   (n)). d = e-1(mod à Ã¢â‚¬   (n)). Can be directly calculated by determining the value of totient à Ã¢â‚¬  (n) without figuring the values of p and q. d can be figured out directly without first calculating the à Ã¢â‚¬  (n). This attack can be circumvented by using long length of key. By doing this it would be difficult to find out prime factors. That is the reason why it was recommended to use size of modulus as 2048 bits. Timing Attack: one of the side channel attack is timing attack in which attackers calculate the time variation for implementation. Attackers can easily determine d by calculating the time variations that take place for computation of Cd (mod n) for a given cipher text C. Many countermeasures are developed against such timing attacks. Following explains the way which this attack can be counteracted: If the time for all computations is made constant this attack can be counteracted but the problem in doing this is it can degrade the computational efficiency. By artificially showing noise to the attacker which can be produced by including a random delay to the exponentiation algorithm. This noise is virtual but appears real to the attacker. If we multiply a random number to the cipher text it will prevent the attacker from bit by bit scrutiny. Chosen Ciphertext Attack: RSA is susceptible to chosen cipher text attack due to mathematical property me1me2 = (m1m2)e (mod n) product of two plain text which is resultant of product of two cipher text. For example c = me (mod n) which is cipher text is decrypted in following steps: Calculate x = (c x 2e) mod n. Receive y = xd (mod n) by submitting x as a chosen cipher text. Multiplicative property is then applied which is: x = (c mod n) x (2c mod n) = (mc mod n ) x (2c mod n) = (2m)c mod n. By this attacker can calculate m by using y = (2m). By padding the plain text at the implementation level this restraint can be easily solved. Several versions of RSA cryptography standard are been implemented. PKCS Public Key Cryptography standards are latest version. The previous version was proven to be porn to Adaptive Chosen Ciphertext attack (CCA2). This adaptive chosen cipher text can be prevented by latest version which is Optimal Asymmetric Encryption Padding (OAEP). Bellare and Rogway introduced this OAEP. To process the plain text before encryption the OAEP uses a pair of casual oracles G and H which is Feistel network. Following two goals are satisfied by OAEP. OAEP PADDING PROCEDURE Due to addition of random numbers the probabilistic scheme are being replaced instead of the deterministic encryption scheme. If the attacker is unable to invert the trapdoor one way permutation then the partial decryption of the cipher text is prevented.

Negotiation: Game Theory

Negotiation| | The use of Game Theory could be a powerful force in negotiation. Investigate the different ways that Game Theory can be used or manipulated to change an outcome in a negotiation. | | Negotiation| | The use of Game Theory could be a powerful force in negotiation. Investigate the different ways that Game Theory can be used or manipulated to change an outcome in a negotiation. | | Quentin Dutartre Yash Ruia Damien Canneva Kilian Bus Emilien Allier David Schil Quentin Dutartre Yash Ruia Damien Canneva Kilian Bus Emilien Allier David Schil Contents Introduction2 What is the Game theory? Theory4 Making commitments: promises and threats4 Basic situation4 Unique Win/Win situation5 Commitments and side payments5 Prisoner’s dilemma7 The Simplest Game: Two Person with a Fixed Pie8 Tacit Barganining8 How to act during a negotiation9 Breakthrough Strategy9 Tactics10 Limits11 The modelisation11 The interpretation12 Conclusion13 Sources13 Introduction Our group decided to work on the topic three: â€Å"The use of Game Theory could be a powerful force in negotiation. Investigate the different ways that Game Theory can be used or manipulated to change an outcome in a negotiation†.The modern Game Theory was created in 1944 with the book â€Å"Theory of games and economic behavior† by Oskar Mogenstern and John Von Neumann. It was also developed a lot in the 1950’s with several studies by John Nash. After our seminary about negotiation we thought it would be very interesting to make some research about the Game Theory. Indeed, we made some researches on the Game Theory in our first year in IESEG in our economic classes. That is why we were a bit surprised to see that this theory could be also used in a negotiation process to analyze it.It seems to be obvious that using the concepts of that theory could change the course of a negotiation and be understood as a manipulation or just a skill to achieve the goals of the agents in a negotiation . We decided to divide our work in three parts. First, we will define the Game Theory and make some examples. Secondly, we will make an synthesis on how to act as a negotiator during a negotiation. Finally, on the third part we will talk about the limits and the interpretation we can make on that subject. Generally, we can say that our goal is to extend the concept of Game Theory.Indeed, we imagined it only in an economic vision and we want to extend it to a negotiation vision. What is the Game theory? The Game theory is a method to study the strategic decision-making. More formally, it is  «the study of the mathematical models of conflict and the cooperation between intelligent reasonable decision-makers. † An alternative term suggested  «as a more descriptive name for the discipline † is the theory of interactive decision. The Game Theory is mainly used in the economy, the political science and the psychology, as well as the logic, negotiation and the biology.The s ubject of the (landed) at first sent zero-sum games, such as the earnings(gains) of a person equal exactly the clear(net) losses of the other participant (s). Today, however, the Game theory applies to a vast range of relations of class and developed in a term of umbrella for the logical side of science, to include both man and non-people, as computers. Classic uses include the direction of the balance in numerous games, where every person found or developed a tactics which cannot successfully better its results, given the other approach.Theory Making commitments: promises and threats The first assumption to be made is that the goal of any negotiation is to enlarge the pay off for both sides, and in most cases agreements has to be made in order to achieve getting a Win/Win situation. These agreements can be made by making either promises or threats. In both cases, the idea is to benefit from an enlargement of the total pie obtained by making commitments. Basic situation In the follo wing example, both sides are looking forward to getting the better pay off.At first sight, Neil seems to have a better hand since he is able to have payments by using both of his strategies while Bob can only win by using strategy 1. It is obvious that Neil would better use strategy 1 in order to maximize his payoffs expectations. But Bob would probably prefer using his second strategy than winning less than Neil, though it would result in a Loose/Loose situation. Bob will probably threatens to take strategy 2 if Neil chooses the first one. The only way to obtain a Win/Win situation though is for Neil to make a commitment: he must promise to choose 2 if Bob chooses 1.This is the most basic commitment example. Unique Win/Win situation In the following one, there is one only scenario which allows the two player to win, but commitments must be made buy both sides in order to reach the best situation for both. Here, Neil will probably initially chose strategy 1 in order to avoid loss, b ut he won’t be able to gain anything though. Bob would probably choose to maximize his payoffs expectations by choosing the first strategy. Finally, neither Bob nor Neil will get payoffs, so that we obtain a Loose/Loose result, which is not acceptable.They both have to promise to choose the second strategy in order to win. Commitments and side payments In this last example, it is not possible to reach a Win/Win agreement but by making side payment. Side payments allows to change the total pie, and though to reach the targeted situation. In this particular scenario, initially Neil would choose the first strategy, which is not acceptable for Bob in both cases. Moreover, Bob can’t threaten Neil to choose either a strategy or another. This is a very bad situation for Bob.He will probably choose strategy 1 in order to minimize Neil’s payoffs, and though gain nothing. But, fortunately he can also promise side payments, which could change the total pie. As a matter of fact, if he pays $2 for Neil to pick strategy 2, we create a Win/Win situation which will allow both sides to get payoffs. Through this part we’re going to apply the concept of promises and threats into a concrete situation of negotiation. We set the situation, we have two participants, one will be selling an apartment two a possible buyer. At first sight, the man in power is the seller as he fixes the price.Nevertheless, the buyer can use the threat technique, saying he won’t accept the offer. This decision would place our two actors in a lose/lose situation. Indeed, if the buyer is in the situation of losing the negotiation he will choose to make his opponent loose too. Thus in order to obtain a win/win situation, the seller must not be too greedy to convince his customer. In another way, if the seller wants to be sure to succeed, he can promise the buyer an offer that will automatically put the buyer in a state of winning. Prisoner’s dilemma The prisoner†™s dilemma is one of the most famous games.It is quite easy to understand and gives a good idea of different possibilities in negociation and the interest of cooperation. The main idea is that two burglars get caught by the police after a robbery, and they are interrogated separately. They have two options: either they say that the other guy is guilty or they say he’s not. Considering one’s interest separately, the best situation for him is to use the guilty option while the other chooses the not guilty option. In this case, the first guy will get only 1year of jail while the other one will get 5 years.Therefore it is very risky to choose the not guilty option. If we consider the two as one, the most interesting situation is that both of them choose the not guilty option, whereas the worst is both choosing the guilty option. This is one of the simplest examples of a Win/Win, Win/Loose or Loose/Loose situation. They can both act individually using the guilty option, a nd get 3 years of jail each, or they can cooperate, use the not guilty strategy and get only 2 years both. The major thing to be remembered is that trust is crucial in negotiations.It leads to the only Win/Win situation possible and credibility is needed to avoid defection. The Simplest Game: Two Person with a Fixed Pie When think of people negotiating, a very simple scenario comes into mind, where one person wins and the other fails to win. This is a very simple scenario and one of the first that game theory attempted to solve. Let’s take a very simple example where Nathan owes Barbara some money and they can’t decide on how much. Both of them have two options available to them, but the final decision depends not only on what strategy they choose, but also on what strategy is chosen by their opponent.Nathan will choose to pay a minimum of 40 and Barbara will want to take the maximum of let’s say, 60. This is a very simple scenario and one can easily figure out that the outcome will be 50. 40| 50| 50| 60| However this illustrated a very important concept called the Minimax theorem which tells us to pick the strategy the minimizes the opponents maximum gain. Nathan will pick strategy 2 in order to not pay 60 while Barbara would pick strategy 1 to avoid only getting paid 40. The more variables one has, the more complex the game becomes to solve.Therefore it is a good idea to have lesser number of variables, similarly we need to have a clear idea of what we need in order to reduce unimportant options. Reducing the number of variables one has is always a good idea, even if one is not really reducing the number of variables it is important to show to the opponent that you only have some variables to win. For example, when a customer asks for something one can refer to standardized guidelines or not having permission from the boss to reduce variables. Tacit Barganining. This term was first coined by Thomas Schelling.Who did some experimental res earch and found out the following facts: * When asked to pick any number, 40% chose the number 1. * When asked to pick any amount of money almost all people chose a figure divisible by 10 * When people were told that they had to meet someone else – but had to guess the time – almost all chose noon. We often succumb to a lot of convections even without doing it consciously. It is normal for people to follow the laws of fairness and equilibrium; no one wants to be seen as deviating from the norm.Therefore its usually a good idea to make the first move in a negotiation so that you can create the framework and make clear that you are precedent. In a negotiation, taking the initiative doesn’t seem to be the best thing to do when you start it. Indeed, when you ask somebody to start negotiations, generally he is reticent to do so. Nevertheless asking the first proposal allows you to be able to negotiate on this basis, that’s why you should do it first. Establish a precedence as we said before is a tool to start negotiating. The thing is, there is always a argaining whereas you don’t even notice it. It’s called the â€Å"tacit bargaining†. How to act during a negotiation Breakthrough Strategy In order to reach your goals through using the game theory to negotiate you will need to apply a strategy you will respect during the entire negotiation. That’s why we can use the breakthrough strategy. This breakthrough strategy is based on five steps and permits to solve issues during the negotiation process. Its aim is to offer the two parties the possibility to work together rather than appearing as two adversaries.Nevertheless, this strategy needs to be remembered and followed as it wouldn’t be the intuitive reaction. These five steps are to firstly stay focused. In fact, the goal is to have your mind clear and not be parasite by your emotions. You need to have an overall view on the entire negotiation and to not get lose on a specific point. Then, you need to accept the counter-party. Indeed, being as empathic as possible is very important throughout the negotiation process as creating a climate of exchange is primordial to obtain a win/win situation.This can be perfectly illustrated by the prisoner dilemma. Both parties searching for their proper interest without regarding his opponent situation will lead to lose/lose. Thereafter, the participant will reframe the negotiation. It is based on rephrasing the opponent arguments enhancing the common interest. This will permit that both side look for the fairest deal possible. Once again you need to look through the other negotiators eyes in building a â€Å"golden bridge. This means trying to understand if, in his situation, you will accept the deal as it is now.You will therefore see when to finalize the negotiation in order that the counter-party doesn’t feel pushed in the conclusion. Finally, to make it hard to refuse by using the p ower game as threats or bluff is the most common mistake made at the end of the negotiation. In fact, by using lowering his chance to refuse you also lower his chance to accept the deal. Thus, by having used the four precedent steps, you have create a negotiation climate that will present your golden bridge as the best common interest for the parties. Tactics Tactic is about anticipating what the negotiator is going to do.You have to prepare several strategies in order to obtain what you want from these negotiations. First, there are the behavioral tactics, whose aim is to differentiate the negotiation in its role of representation of a third person or a company and the person who plays this role. Negotiators when using these tactics can operate in many ways. They can use a spokesman for representation, or the executive person or a delegated representative. You have to create a positive frame if you want to obtain concessions from the person you’re negotiating with.Moreover, you have to establish limits in your area of negotiation. Anchoring is a tool that has to be established in order to be able to make adjustments between the two parties in the future. Adjustments and anchoring are important because they have an impact on negotiators. They lead them to what is possible and doable during the negotiation. Another mean is to influence the negotiator as an individual. As if, the negotiator is using its unique and common sense during an argumentation. Some tactics can be based on ethic and morality.If you think the proposition is unfair or contrary to the usual behavior or even illegal, you can use these tactics by pointing up the fact that the proposition is unethical. Tactics is not only about the human and the social part; there is also a part of a negotiation that is about the balance of power between the two parties. The main goal of this tactic is to let the other party know that accepting one request would have an important impact on the cost and t hat we are going to make them pay for that. The deterrence impact shouldn’t be ignored in a negotiation.Commitment in a negotiation is of paramount importance. It is one of the three strategic strikes with bluff and threat. The thing is that negotiators have naturally the tendency to commit themselves into the negotiation. Instead of trying to develop its requirements and modifying its position, he will start conflict in order to put pressure on its opponent. It puts the opponent in a tough position; accept our request or he will have to face the failure of the negotiation. And that’s exactly what he wants to avoid. Otherwise, its role would be useless.This tactic can lead to a dead-end, but it’s a stuck situation that doesn’t consider the balance of power between the two parties. Threats are different from commitment as they are more flexible and have a longer range of existence. They are various as they can be explicit or implicit. They are the direct c onsequences of the failure of negotiations and can be introduce by the company of the negotiator. They have to be used sparingly because threats without any actions discredited any negotiators and especially its company. In the future, it would have an impact on the approach of the opponent regarding the company.Limits The study of a complex negotiation situation with the help of a model places two major complementary problems: the modeling itself (the passage of the reality to a version idealized of this reality) and the interpretation (inverse approach) The modelisation Modelisation is a very hard job. We can resume it as the stage of transforming reality problem into a matrix. The modelisation consists in creating a representation simplified by a problem: the model. But as every transformation, problems could be highlight. Some characteristics, some influence can be overestimated or less estimated. How to model the respective influences of the parameters (functional dependence, i ndeed if such or such parameter exercises one dominating influence or on the contrary, unimportant in first estimate, etc. ) * How measure the values of the parameters (variables of situation or history of the previous negotiations for example) and how fire of a model of the theoretical results (or of experimental simulation). And at least the human factor is very difficult to imagine and to predict. The process of modelisation tries doing it.But through his experience, his character, his objectives or his approach, each human is different. So a model would try to simplify it but of course will make errors. The interpretation Indeed, we already possess a completely realistic model: it is the real world itself. Yet this model is too much complicated to be understandable. †¦ It is only when a simplifying postulate ends in a model which supplies incorrect answers to the questions which it is supposed to answer that its lack of realism can be considered as an imperfection. †¦ Otherwise, its lack of realism is then a virtue.In that case, the simplifying postulate allows to isolate certain effects and to facilitate the understanding. How to interpret the results supplied by the model, suppose that there is (problem of adequacy of the model to the reality). Does such result of the model express suitably the real situation, in spite of the simplifications and the untidy parameters? Like the modelisation, Interpretation is a tuff job. The human factor is a hard to forecast. Game theoretic predictions may not be confirmed in experiments (the real life). Is this a fault of game theory? Yes: people are simply not rational †¦ * No: maybe we get the information technology wrong (absentmindedness), or payoffs are not specified correctly (altruism). The advantage of assuming rationality is that we can think through situations (how can irrationality be modeled). The advantage of assuming selfish behavior is that it is â€Å"unique† (what means altruism, i nequity aversion etc. ). Conclusion As a conclusion we have studied all the aspects about the Game Theory and that helped us to understand that it is a useful tool not only about economic classes but also for negotiation.Indeed, we have made a link between the different sorts of Game Theory and the different cases you can face during a negotiation process. As it is often the case, we found that one of the strongest conditions to succeed in a negotiation is to be able to adapt your body language and attitude according to the characters and features of your contradictor(s). Using the Game Theory could help you to make a strategy and to adapt your goals to any case which is in front of you.However, it is never possible to make a perfect prediction of how the person who is just in front of you and it is very important to be cautious enough, that means that you must rank the risks of any strategy you will try during a negotiation. We can take a final example: You start a meeting being su re you will use the theory of the prisoner’s dilemma because you thought you perfectly understood the mood of the other agent. Imagine one second that you made a very big mistake because you don’t know that the person in front of you has just been left by his wife (for example) and he is very upset.That situation is a good illustration of the risks of using the Game Theory as a perfect and trusting strategy for negotiation. We can finally say that using the Game Theory can be very positive in a negotiation and you can consider it as a very useful tool. However, we have to be very careful because some parts of this theory can be assimilated as a manipulation and this theory is not a miracle solution: every negotiation is different and you can’t always predict the features and mood of your contradictors. Sources * http://dlhoh. hubpages. com/hub/Negotiation-Skill-Dilemma * http://hbswk. hbs. du/item/2773. html * http://www. digitaltonto. com/2009/game-theory-guide -to-negotiations/ * http://www2. warwick. ac. uk/fac/soc/economics/staff/academic/muthoo/publications/bargwc. pdf * http://www. negotiation. hut. fi/learning-modules/IntroToGTAndNego/index. html * http://www. economist. com/node/21527025 * http://www. google. fr/url? sa=t&rct=j&q=negotiation+game+theory&source=web&cd=9&ved=0CHoQFjAI&url=http%3A%2F%2Ffaculty. haas. berkeley. edu%2Frjmorgan%2Fmba211%2FCourse%2520Overview. ppt&ei=vgibT_juBoek4AS8ys2pDg&usg=AFQjCNF5FpD-1CO77pM9Ae0oXFzY0SeGCQ&cad=rja

Benefits for Mondelez International to Expand to Myanmar - Free Essay Example

Sample details Pages: 11 Words: 3292 Downloads: 8 Date added: 2017/06/26 Category Marketing Essay Type Case study Level High school Did you like this example? 1.0  INTRODUCTION This is a report that studies the potential reasons and benefits for Mondelez International to expand to Myanmar. Mondelez International Inc. is a multinational company that revolves around selling well-known snack food brands around the world. Don’t waste time! Our writers will create an original "Benefits for Mondelez International to Expand to Myanmar" essay for you Create order Some of these food brands include Oreos, Tiger, Cadburry, Milka, Toberone, Jacobs as well as Halls which are commonly available even within Malaysia. The company has a market presence in every region of the world although it still has markets not yet expanded to. Take for example, in Southeast Asia the company has yet to have a direct presence in Brunei, Laos, Cambodia and including Myanmar either for reasons of lack of foreseeable profits or discouraging political risks. Myanmar, at one point in time, was a reclusive country with nearly 50 years of political and economic isolation. Today, it is a developing country that is currently undergoing reforms aimed at encouraging foreign direct investment (FDI) (Wong, 2014)[1]. The international community has recognised the reform efforts taken by the Myanmar government and has resulted in the ease of decades-old sanctions towards it particularly by the US (United States) government, European Union (EU), and the Canada (Burke, 2012)[2]. The ease of business entry into the country due to the reforms and removal of sanctions has meant that now is a good time to enter the market and tap into opportunities once untouchable in the country. In fact, many multinational companies have not wasted any time in entering what they see as a gold mine for FDI. Microsoft, Coca-cola, Nissan, and Baker Mckenzie along with Mondelezs direct competitors Unilever and Nestle are but some of these MNCs to participate in the gold rush for opportunities. Although still behind countries like Singapore, Malaysia and Indonesia, its growth economically has been staggering in the past few years due to the massive amounts of FDI. The growth in FDI brings in an increase in the purchasing power of the average Myanmar citizen which means that there is still a growing market base that is fresh for brand establishment and plenty of undeveloped land for low-cost production facilities. Company Background Mondelez Internationals headquarters ar e in Illinois, United States and its current CEO is Irene Rosenfeld who was also the CEO for Kraft Foods Inc. A very intriguing aspect of this company is the fact that despite being in an age where mergers, acquisitions and joint ventures are common, this company was the result of a demerger that took place in 2011. Based on the Forbes (2013)[3] rankings, the demerger seemed to have paid off since the company in 2013 had a market capitalisation of US$50.1 billion along with being 182nd in the Forbes Global 2000 but most of all the company moved up to 52nd from 63rd last year in the Forbes Innovative Companies. Mondelez International was originally part of Kraft Foods Inc. which had a wider focus that also sold grocery products (Schaefer, 2011)[4]. The demerger split Kraft Foods into two companies, one (Kraft Foods Group that handles grocery manufacturing and processing in North America while the other, renamed Mondelez International, revolved around selling every snack food brand the original held prior to the demerger. This allowed Mondelez International to adopt a more central focus to its strategy that revolved around a more narrow line of products. Employees prior to the demerger settled on the word Mondelez for the snack food company which combines the words monde (world in Latin) and delez (delicious in short form) as mentioned by Toole (2012)[5]. Tooles article further goes on to mention that the name will not be used in making new products but will instead act as an idea that the companys own snack product brands can be associated with. Since it officially is a part of the original company that existed since 1923, Mondelez International thus inherits all resources and rights to assets and snack food brands that Kraft Foods possessed worldwide even though it has officially only existed since 2012. Objectives The objectives of this report are to: Assess Mondelez Internationals capabilities in expanding to developing countries Evaluate Myanmars environment to determine feasibility of expansion Determine a feasible method to enter the market Identify methods to handle risk effectively Scope of Report To achieve the stated objectives, the report will cover an environmental analysis of Myanmar through the use of external analysis frameworks such as PESTEL and Porters Five Forces. An internal analysis of Mondelez International strengths and weaknesses is the second half of the circle that will be compared with the environment analysis. This will determine the feasibility of market expansion and filter out the most suitable mode of entry for the company. Last, but not least, risk management practices will also be recommended within the report as a means of reducing Mondelezs exposure to risk in the country. 2.0Literature Review Transition Economy Factors affecting the overall performance of a multinational company (MNCs) are vastly different when comparing transition economies to developed and developing economies. For one, a transition economy is a market that entirely relies on the recent opening its economy to generate growth through foreign direct in vestment (FDI). Transition economy will eventually grow into a developing economy but until then it is a market characterised by prevailing levels of hostility, dynamism and complexity that surpass developing ones. Luo and Peng (1999)[6] indicates that transition economies often still have weak regulatory systems, underdeveloped factor markets as well as poor property rights protection by current standards and this contributes to the market characteristics mentioned earlier. Therefore, environmental factors of a transition economy can greatly affect the MNCs performance in that economy. Take for example, back in 1989 China experienced the Tiananmen Square incident that triggered the mass evacuation of expatriate personnel for many MNCs. This incident shows how transition economies such as China back then are filled with uncertainties that MNCs have to deal with. Bribery Due to that uncertainty and weak regulations as well, bribery is also commonplace within the transition e conomy and that MNCs must be willing to engage in these activities in order to gain traction in performance. Zhou and Peng (2011)[7] affirmed that the downfalls of bribery will not affect large firms such as MNCs. This seems to attribute to the findings that large MNCs are less likely to get caught conducting bribery compared to small firms. Thus, large MNCs, who have little risk in the practice, will have the incentive to engage in bribery in order to improve its performance in the transition economy. Furthermore, in doing business in transition economies, MNCs (agents) must also deal with its government (principal) in a principle-agent kind of relationship. Peng (2000)[8] mentions in comparison to domestic firms, MNCs have greater bargaining power in setting the control levels of the government. The study refers to the time China turned into a transitional economy from the 1970s and had to manage the flow of FDI by MNCs typically by joint ventures. Its government encouraged FDI to gain MNC resources while the MNCs conducted FDI to tap into the market potential of China resulting in conflicts of interest. Therefore, the level of control transition economies attempt to impose will affect MNCà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance significantly. Organisational Learning From the past few paragraphs, we have concluded that in transition economies, multinational companies face greater levels of environmental turbulence stemming from organisational structures, regulations and markets that are unfamiliar, inconsistent and fragmented respectively. In this case, a multinational companys ability to learn and adapt to the ever-changing market will also contribute to boosting that MNCs market performance. This concept is known as organisational learning and research over the years recognises it as a critical component that influences the performance of international expansions. Luo and Pengs (1999)[9] research state that experience is the primary contributor to organ isational learning. Experience in this case is referred to as the intensity and diversity of exposure to particular market environment. Their research further goes on to mention that MNCs engaging in a diverse range of activities and for lengthy periods of time gain greater experience effects and that such experience are more significant when operating in transition economies. Overall, greater levels of organisational learning gained from the experience of operating in a transition economy will inevitably facilitate the rise of the MNCs performance in that economy. Speaking of which, experience from a particular economy is typically gained from being in that economy for a long period of time. The period of exposure gained by being in a marketplace the earliest can be considered as an intangible competitive advantage that cannot be imitated by rival firms. The longer the experience effect is in the market, the better the MNC can evaluate its risk and reduce its uncertainties as we ll as develop valuable ties with local partners in that economy while effectively establishing the rules of competition. In order to be the longest player in the game, you have to be the first to enter it, and that brings us to à ¢Ã¢â€š ¬Ã…“First Mover Advantages. Advantages MNCs gain for being pre-emptive to enter the market, Luo and Peng (1998) the benefits to the MNC as being able to dictate the entry barriers for following firms, obtain scarce assets within the economy and effectively gain technological leadership. They further elaborate those MNCs that pursue first mover advantages are not in the market for short-term profits, but instead seek to establish long-term gains through secured and large market-share dominance of the economy. Whether the first-mover succeeds or fails is another story, but in the case of transition economies, the opportunity to securely establish brand recognition in a brand-fresh market is one that is hard to pass up. Conclusively, these stud ies show the key importance the environment of a transition economy plays in addition to the usual capabilities the multinational company has in the prospect of performance within that economy. Both the environment of the country and the state of the industry are to be included within the transition economys environment. These factors all eventually beg the question of How can a firm take in all of these variables in order to arrive at a suitable strategy that can directly translate into greater performance in transition economies? Perspectives of the Strategy Tripod Due to the depth of research covered in industry-based views and resource-based views, it is most definite that MNCs expanding to foreign markets will have to consider the effects of competition and the firms own capabilities in formulating feasible strategies. To elaborate, the industry-based view is a perspective that considers the effects of industry conditions on a firms strategic performance. This of course r efers to competition levels within the particular industry of a country the MNC is intent on participating in. The effects are noticeable when market entry barriers set by the first-movers of an industry can force a change in market entry strategy. Looking from a resource-based perspective, this view justifies that the internal conditions of a firm will affect its strategy and performance. No one firm is similar to another and hence why strategies employed by one firm will not necessarily work out the same way for another. Overall, strategic management dictates that a firms strengths and weaknesses in relation to market circumstances will eventually decide the final strategy to be executed. Kogut (2003)[10] criticized both perspectives for leaving institutional factors of a market, both formal and informal, in the background when it is these factors that set the context of competition and the nature of the firms that operate in an industry. Peng and Jiang (2008)[11] state that the institution-based view of strategy formulation is crucial when it comes to operating within emerging economies as the nature of institutions both formal and informal affect the context of competition as well as the nature of firms operating within a market. This perspective views the environmental conditions of a market that affects the strategy chosen by MNCs such as political risks, nature of policies set by nation states as well as the changing cultural values of the local population. Understanding of these factors can lead to proper understanding of the marketplace and thus proper strategy evaluation as well as selection. Strategy Tripod Framework Figure 2.1 The Strategy Tripod Concept by Mike Peng Combining the three perspectives together brings forth the à ¢Ã¢â€š ¬Ã…“Strategy Tripod concept as shown in Figure 2.1. This is a concept helps to address how firms behave in foreign markets. By assessing these perspectives of a market, MNCs can precisely determin e the success factors that influence the final strategy as well as the nature of those factors in order to achieve competitive advantage. Indeed, the institution-based perspective is the third leg that helps sustains the strategy tripod together with the industry-based perspective and resource-based perspective. This framework is vital for penetrating transition economies since its uncertain conditions can alter the industry playing field and affect how well MNCs can use its resources at hand. Frameworks Applicable to Strategy Tripod In order to sufficiently evaluate the various factors from the three different perspectives, frameworks that are tailored to evaluate each different perspective of the Strategy Tripod will be utilised. This therefore causes the necessity to explain the frameworks to be utilised for this report. Industry-Based Competition To properly assess the industry of an economy, the frameworks of Porters Five Forces and the Generic Strategies will be us ed here. These frameworks help determine the Porters Five Forces This framework was created by Michael E. Porter in 1979 with the purpose of determining factors that affect the profitability of a particular industry. The framework revolves around five forces as shown in Figure 2.2 (hence, the name of the theory) that assess a market in terms of both competitive intensity and its attractiveness (CGMA, 2014)[12] . When combined with the internal analysis of an organisation, the Five Forces can be used to understand where is the MNCs strengths in an industry lie currently as well as where it can go to develop new strengths or enhance current positions. Figure 2.2Porters Five Forces Starting with the threat of new entrants, this force refers to the likelihood of new firms entering an industry. Markets that are profitable with inevitable attract newcomers who will attempt to steal market share and thus reduce the profitability of the various existing firms in an industry. Unless there are significant entry barriers arising from either policies, economies of scale, or capital requirements to protect incumbents, there is very little to impede the entrance of these newcomers and thus cause high levels of threat which reduces market attractiveness. Besides that, threat of substitute products or services also affects how the industry functions. This force refers to the magnitude of alternatives to a product or service that affect how likely customers will switch between substitutes when factors such as price change. For example, customers can easily switch between different brands when alternatives are nearly or equally similar to one another which represent a high level of substitute product threat. In this instance, firms cannot easily charge higher prices for a product customers know to have cheaper and equivalent alternatives. Bargaining power of buyers in an industry also plays a key role in assessing the circumstances of an industry. This ref ers to how influencing buyers can be in pushing down prices. Usually determinant of several factors such as the number of buyers in the industry, value of each buyer to a firm as well as switching costs buyers face when deciding to switch. When buyers are few and concentrated while switching costs for them are low, the buyers bargaining power is considerably high and selling prices will fall. Furthermore, similar to the buyers bargaining power, the suppliers bargaining power plays are key role in the overall competitiveness of the industry. When suppliers to an industry can drive up prices, costs of goods sold will increase which reduces the overall competitiveness of firms within that industry. The power of suppliers to do this is reliant on whether the suppliers are in concentrated numbers, of large size and strength with high switching costs. The opposite of these three variables signal low bargaining power of suppliers. The final force of this model looks into the rivalry among existing competitors. As the intensity between existing rivals in an industry heightens, returns become lower due to increased costs in competing with one another and thus leading to lower profitability for each firm. Intensity is usually determined from size and number of existing competitors, life cycle stage of the industry and also the level of differentiation between products of different firms. Higher intensity occurs when there is no leading firm in an industry, products do not outstand from one another or the industry reaches its peak leading to a lack of growth in the customer base. Porters Generic Strategy Another framework developed by Porter that describes how firms within an industry can position itself in order to achieve competitive advantage by using 3 types of generic strategies based around the dimensions of market scope and competitive advantage. These three strategies are referred to as cost leadership, differentiation and focus and will strengthen th e position of the firm in regards to the Five Forces. Figure 2.3Porters Generic Strategy Starting with cost leadership as shown in Figure 2.3, this focus of strategy is attributed to broad scope and cost-based competitive advantage. It suggests that a firm should focus on low costs and prices in order to successfully compete within its industry. With little differentiation but a wide target market, a firm would attract a massive number of customers by offering greater value for price compared to its rivals in the industry. The firm would generate profits mainly through savings gains from productions and logistics efficiency. Wal-Mart is a prominent practitioner of the cost-leadership strategy which is basically sell cheap to nearly everyone. Moving on to differentiation, this aspect of generic strategy suggests that a firm should focus on distinguishing itself effectively from its competitors in order to compete successfully. [1] Wong, M 2014, Myanmar aims to increase foreign direct investment by 10% to US$3b, media release, 22 January, Channel News Asia, viewed 14 February 2014, https://www.channelnewsasia.com/news/business/myanmar-aims-to-increase/963526.html. [2] Burke, J 2012, MNCs enter Myanmars door, media release, 5 February, Hindustantimes, viewed 14 February, https://www.hindustantimes.com/world-news/mncs-enter-myanmar-s-door/article1-806920.aspx. [3] Forbes 2013, MondelÃÆ'„à ¢Ã¢â€š ¬Ã…“z International, viewed 14 February 2014, https://www.forbes.com/companies/mondelez-international/. [4] Schaefer 2011, Kraft Foods Latest To Split In Year Of Breakups, media release, 4 August, Forbes, viewed 14 February 2014, https://www.forbes.com/sites/steveschaefer/2011/08/04/kraft-foods-latest-to-split-in-year-of-breakups/. [5] Toole, JO 2012, Kraft to rename snack unit Mondelez, media release, 21 March, CNNMoney, viewed 19 February 2014, https://money.cnn.com/2012/03/21/news/compani es/kraft-name-change/. [6] Luo, JQ and Peng, MW 1999, Learning to compete in a transition economy: Experience, environment, and performance, Journal of International Business Studies, vol. 30, no. 2, viewed 22 February 2014. [7] Zhou, JQ and Peng, MW 2011, Does bribery help or hurt firm growth around the world?, Asia Pacific Journal of Management, vol. 29, viewed 22 February 2014, https://www.utdallas.edu/~mxp059000/documents/Peng12APJM_Zhou_29_4_Dec__907_921.pdf. [8] Peng, MW 2000, Controlling the Foreign Agent: How Governments Deal with Multinationals in a Transition Economy, Management International Review, vol. 40, no. 2, viewed 22 February 2014, https://www.utdallas.edu/~mxp059000/pdf/Peng00MIRauto.pdf. [9] Luo, JQ and Peng, MW 1999, Learning to compete in a transition economy: Experience, environment, and performance, Journal of International Business Studies, vol. 30, no. 2, viewed 22 February 2014 https://www.utdallas.edu/~mxp059000/pdf/Peng99JIBS.pdf. [10] Ko gut, B. 2003. Globalization and context. Keynote Address at the First Annual Conference on Emerging Research Frontiers in International Business, Duke University. [11] Peng, MW, Wang, DYL, Jiang, Y 2008, An institution-based view of international business strategy: a focus on emerging economies, Journal of International Business Studies, vol. 39, no. 5, viewed 23 February 2014, https://www.utdallas.edu/~mxp059000/pdf/Peng08JIBSWangJiang39(5)pp920-936.pdf. [12] CGMA 2014, Porterà ¢Ã¢â€š ¬Ã¢â€ž ¢s Five Forces of Competitive Position Analysis, viewed 23 February 2014, https://www.cgma.org/Resources/Tools/essential-tools/Pages/porters-five-forces.aspx.