Case 1 Who Makes The Apple Iphone - 769 Words

February 4, 2015 Who Makes the Apple iPhone 1. What are the benefits to Apple of outsourcing the assembly of the iPhone to foreign countries, and particularly China? What are the potential costs and risks to Apple? There are many benefits for Apple in outsourcing their assembly line to China. Although Apple claims that the decision wasn’t about the cheap labor, it all comes down to the money. The decision was rooted in the fact that it would save Apple a lot of money. It is understandable that a company seeks to reduce their manufacturing costs, but Apple should admit that the move was about the money instead of pointing to other reasons. In the case, Apple claims that it was also about the convenience of the service that was†¦show more content†¦4. On balancing, do you think that the kind of outsourcing undertaken by Apple is a good thing or a bad thing for the American economy? Explain your reasoning As stated previously, outsourcing does not benefit the American people or economy. So Apple deciding to outsource their assembly line to China is a bad thing for the US. Apple deciding this simply benefits themselves more than anyone else. The next one that gets the most benefit from this outsourcing is Chinas economy. Apple is providing China with more job opportunities which benefit their economy. Apple is only selling their products to the American people; they are not giving back to them in any otherShow MoreRelatedApple s : A Fool s Mission1269 Words   |  6 Pages1. Cite the sources that you have accessed for your research. 1. Apple unlocked at least 70 iPhones before refusing to hack into terrorist’s device. http://www.nydailynews.com/news/national/apple-unlocked-70-iphones-refusal-article-1.2536178 2. San Bernardino shooting http://www.cnn.com/specials/san-bernardino-shooting 3. Government Calls Apple’s iPhone Arguments in San Bernardino Case a ‘Diversion’ http://www.wired.com/2016/03/government-calls-apples-iphone-arguments-san-bernardino-case-diversion/Read MoreThe Problem Of The Internet1451 Words   |  6 Pagesable to make contact with them leading into a police chase. Last but not least they faced off and two of the terrorists were killed, however they discovered a female who was a third person in this brutal attack. As investigators were trying to find the motive behind this tragedy, the FBI found three iPhones in the trash, two of the phones were physically and internally damage. The third phone happened to be fine, the only problem was that it was locked with a password. Majority of iPhone users knowsRead MoreApple’S Opportunity, Target Segment, Positioning, Market1197 Words   |  5 Pages Company: (Apple) Apple as an association will remain as a picture of riches and status. 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Looking at the industry environment, stiff competition poses a large threat to Apple at this time, as well as rising labor costs in China, and third the ability of a company to imitate an Apple product. The main competitors to Apple are Samsung, Microsoft, and Google. One important external factor that is favorable for Apple at this time wouldRead MoreQuestions On The Problem Of Iphone 5s Ios1425 Words   |  6 Pages†¢ Syed Rizwan Farook, one of the shooters who killed 14 people and wounded 17 others, killed by police men in a gun battle, carried an iPhone 5C. To further investigate the shooting case FBI wanted to unlock his phone so that his contacts, plan, the conversation could be accessed. †¢ FBI could not unlock the phone. iPhone 5S iOS has a function which causes the data on the phone to auto-erase if multiple wrongs passwords are used to unlock the phone. If the data gets erased from his phone, FBI would

Contemporary Developments in Business and Management - Free Essay Example

Sample details Pages: 12 Words: 3504 Downloads: 4 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? Contemporary Developments in Business and Management: Case of GlaxoSmithKline Summary: GlaxoSmithKlineà ¢Ã¢â€š ¬Ã¢â€ž ¢s major strength is its huge resource base and capital as the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s largest pharmaceutical company. Whilst the company remains a success in a market that is constantly growing, the company is threatened by the reduction in patent lengths which have traditionally been the basis for increased sales. Some steps have been taken in order to change research practices and improve creativity in order to create new drugs and product lines, and success in many areas has been achieved. Don’t waste time! Our writers will create an original "Contemporary Developments in Business and Management" essay for you Create order However, more focus on biotechnology fields and less reliance on acquisitions is needed to push the company forward and reduce the pressure of shorter product life spans. If this can be achieved then the future of GSK looks extremely bright. Introduction Contemporary developments in business and management are now crucial to the success of many companies, in particular those larger organisations who rely on a complex chain of command and processes in order to function at maximum efficiency. With such a range of factors involved in business and management strategy, it is important to analyse these factors in order to identify the strengths and weaknesses of a business. This report focuses on these issues with regards to the pharmaceutical company GlaxoSmithKline. With such a large company as GlaxoSmithKline, the focus will remain on the medical division of the company rather than any other part, in order to avoid crossover between unrelated industries. The first section of the r eport will contain both a SWOT and PESTEL analysis of the factors affecting the company. The second part will look at the nature of corporate learning and creativity with regards to GlaxoSmithKline, and how their policies on Research and Development (RD) affect their business and management decisions. The aim is to find understand the factors affecting the company, and to recommend changes that could help to improve the efficiency of the business in certain areas. Main Body Part 1: PESTEL and SWOT analysis of GlaxoSmithKline In order to understand the full range of factors affecting a company like GlaxoSmithKline, we need to divide the factors up into internal and external factors. The internal factors of GlaxoSmithKline can be analysed using a SWOT (strengths, weaknesses, opportunities and threats) analysis. The external factors will be looked at by means of a PEST (political, economic, social, technological, environmental, legal) analysis. SWOT analysis GlaxoSmithKl ineà ¢Ã¢â€š ¬Ã¢â€ž ¢s strengths clearly lie in its size as a company, being the largest pharmaceutical company in the entire world since the merger between Glaxo Wellcome and SmithKline Beecham in 2000. With such a massive resource base as this, GSK has the advantage over its competitors. Perhaps the biggest strength they have in this respect is the advantage of patents. Huge amounts of money are needed to overcome the regulations required to approve drug patents, and being the company with the most resources means GSK are poised to get the rights for many drugs. These patents have helped GSK to increase its revenues, with examples over the last few years including the asthma drug Advair and the diabetes drug Avandia. GSK have the patents to both of these drugs, and this has seen sales skyrocket over the past few years. Indeed, Advair came from nowhere in 2000 to become the US market leader a few years later, with sales of  £1.6 billion in 2002 (Maynard, 2004). Other patente d drugs such as Wellbutin and Combivir are also examples of the strengths of patent protection that GSK enjoys. Although patents generally only last for a certain amount of time for drugs, with their large capital resources GSK are also primed to develop new products in their RD labs. In 2004 GSK held an RD day where it was reported they were working on 147 new pharmaceutical projects, 82 of which were completely new compounds (www.gsk.com). Although many of these will not work out, the sheer scale with which GSK can conduct research using some of the leading experts in the field means they are the most likely to develop the leading drugs of the future. In terms of weaknesses, GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s main internal weaknesses are to do with management control and circle of competence issues. One of the main criticisms levelled at GSK is their image as a à ¢Ã¢â€š ¬Ã‹Å"fat-catà ¢Ã¢â€š ¬Ã¢â€ž ¢ management company. GSK boss Jean-Pierre Garnier saw his wage rise to nearly 25% to à ‚ £967,000 in 2002, and many were worried about the amount of control and accountability of such bosses (Maynard, 2004). However, GSK has gone some way to reduce these weaknesses by reducing contract notice periods and changing remuneration packages of some executive staff. Another weakness of GSK concerns its circle of competence. Whilst it is clear that GSK is doing extremely well and overall is in a very healthy position, it is hard to understand details within the firm. Analysis of the various patents and research projects of GSK is extremely difficult, as is keeping an eye on all the major rivals and drugs of other companies. GSK is not in a particularly good position to change quickly with the market, particularly as it is hard to predict if and when certain projects and patents will fail. Other issues include the prevalence of corporate activity within GSK. Although mergers have helped keep growth high, these mergers always carry a risk and cost-cutting can only hel p to a certain extent. Although new acquisitions at this point look less likely, if the research labs fail to help boost sales then other corporate activity could ensue. The main opportunities for GSK lie in the sustainability of current patents through development of new product lines, and the creation of new drugs to stay ahead of the field. Also, the move into new and emerging markets in Asia such as China. However, new à ¢Ã¢â€š ¬Ã‹Å"blockbusterà ¢Ã¢â€š ¬Ã¢â€ž ¢ drugs and sustainability of current patents remains the key. The main areas of growth are in markets such as cancer and diabetes drugs, where drugs such as Cervarix (a drug against cancer-causing HPVà ¢Ã¢â€š ¬Ã¢â€ž ¢s) are potential winners in 2007 and beyond (Bio Portfolio, 2007). Both of these markets are growing because of the increase in prevalence of the diseases, particularly in terms of diabetes. GSK had no real program regarding diabetes 10 years ago, but now has a fully fledged research program dedicated to Type 2 diabetes drugs (Heffner, 2004). Equally, the internal threats to GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s success are the ability to develop new drugs as well as sustaining current patents. Once patents are lost and other companies can release generic versions of a drug, sales can dramatically fall away. For instance, in 2002 GSK lost the patent for an antibiotic called Augmentin, and sales dropped from  £403 million in 2001 to  £218 in 2003 with the release of generic substitutes as competition (Maynard, 2004). Many of GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s other patents are under threat, including drugs such as Wellbutin and Seroxat. If Glaxo loses such patents then it will need to develop new product lines or other completely new drugs to stay ahead. For example, after the removal of the Augmentin patent, GSK released new ES and XR varieties of the drug which accounted for 35% of new prescriptions. However, the development of new drugs and the ability to stay ahead of the game wi th new product lines is never certain. GSK has put a lot of faith in their ability to develop these new products and keep the patents. If they cannot do this then patent and research issues will become a major threat to success for GSK. PEST EL analysis Now that the internal factors affecting GSK have been looked at, the external factors will be analysed using a PESTEL analysis. In terms of political issues, GSK has the same problem as most other pharmaceutical companies, namely the issue of governmental intervention. However, as such a large company GSK probably has to deal with this issue more than any, due to its potential threats to competition through market dominance. The intervention of governments reduces the price that can be charged for certain products and also puts caps on supply and demand. Another factor to consider in political terms is the governmental systems themselves. In countries such as the UK, healthcare spending is determined by tax and government sp ending. This means even if GSK develops an excellent product, it is not always possible to sell the product effectively in all countries where it is needed. The biggest economic factor is the amount of money available for health care in any given place. The nine most profitable markets that spend large amounts of pharmaceuticals are dictating 80% of industry growth. Whilst emerging markets such as South America and Asia have the funding in place to spend large amounts of high price drugs, poorer areas like Africa limit the growth of global pharmaceuticals, which affects companies like GSK. Social factors are now playing a more important part in the industry, with consumers now more interested than ever in their healthcare treatments. There is now more choice in over-the-counter drugs and certain niche areas are developing à ¢Ã¢â€š ¬Ã¢â‚¬Å" items such as slimming drugs for instance. This has caused a shift in marketing from targeting the doctors and healthcare professionals to more direct consumer marketing. Branding of drugs is becoming more important, and so GSK must make sure its focus shifts to consumer marketing. Also, as the population ages the demand for drugs associated with conditions more prevalent in old-age will increase. This will generally increase the overall demand for drugs, as the older age market segments consume higher levels of pharmaceuticals than other segments. Technology is reducing the power of manufacturers whilst increasing the power of buyers and consumers. The Internet and other resources allow society to find out more information on lower-priced treatments, thereby reducing the power of manufacturers to charge high prices for their products. Technology is also affecting the products and direction of research within companies such as GSK. Biotechnology is becoming more important, and may become a critical factor in the future success of GSK. These new processes and the way in which companies embrace the technology will be the keys to success or failure for many large pharmaceutical companies. As societal awareness increases of environmental issues, it makes the regulations for pharmaceutical companies stricter. Issues of human and animal testing are now critical, as is the disposal of laboratory waste. GSK will need to ensure that environmental issues are at the forefront of management decisions so that the company does not face the wrath of both regulatory bodies and the consumers. Environmental legislation is not the only issue to worry about in legal terms. Regulatory bodies are putting measures in place worldwide that are starting to increase drug development times considerably. With the number of product trials increasing, development costs are going up and patent protections are now running out very early into the life cycle of a product. Companies are now focusing on High Compression Marketing in order to make the most profit at launch to combat the problem of short life cycles. Also , with patents being challenged more regularly, the pressure on GSK to develop new drugs and product lines more quickly is increasing all the time. Part 2: How research and development and creativity influence policy decisions within GlaxoSmithKline Now that the internal and external factors affecting GSK have been analysed, it is time to look in more detail at how issues of corporate learning, research and creativity affect decision making processes within GlaxoSmithKline. Critically evaluate the effectiveness of the organisationà ¢Ã¢â€š ¬Ã¢â€ž ¢s response Demonstrate some areas for improvement in the response of the organisation As previously mentioned, with patents on pharmaceutical products now running out faster than ever, one of the critical factors for the future success of GSK and other pharmaceutical companies is the ability to develop new drugs and product lines. With this in mind, creativity and research now have a huge influence on the policies and managements decisions within GlaxoSmithKline. In response to the change in the market, GSK have implemented a number of research decisions in order to boost future success. GSK were originally a company who used their wide array of patents to generate large amounts of profit, and the need for new drugs was less of a concern. However, as patents are now fading away, GSK has become a far more research-based pharmaceutical company, and has literally hundreds of research projects currently in development. With the average cost and time for a new medicine running at around  £500 million and 12-15 years, GSK are spending vast sums of money in order to remain ahead of the competition. With the development of new technology, GSK have restructured their RD facilities to move along the lines of a Biotech company rather than a traditional pharmaceuticals company. Now with 6 different autonomous and accountable research divisions, GSK has made the decision that the creativity of new products is the most crucial factor for future success. This move towards biotechnology is designed to increase the productivity of the research departments and further fuel creativity within the company (Dorey, 2001). The idea behind the biotechnology principle is that peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s rewards are far more tied to the level of work they put in; such is the entrepreneurial spirit behind such companies. The idea is that each of the research divisions acts as a small company, thereby increasing the inventiveness and hunger of staff and researchers seems to be the right way forward for GSK. Increasing the size of RD functions may work in the ory in terms of economies of scale, but you can lose much of the creativity with this method. Therefore, splitting up the research into smaller companies with entrepreneurial drive is a far more effective way of producing new products successfully. The research units were created around 5-6 years ago, and are labelled as Centres of Excellence for Drug Discovery. All the units compete for funding and will develop drugs up until the clinical development stage, at which point they will be handed back to the main arm of GSK. This allows the crucial factors of high throughput level and combinatorial chemistry to be supplied at the corporate level, thereby improving efficiency and booting creativity. The bureaucracy is left to the main arm of GSK, thereby allowing the researchers to get on with what they do best à ¢Ã¢â€š ¬Ã¢â‚¬Å" creating new products for the market (Dorey, 2001). However, it is not clear whether GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s success over the last few years is down to thi s new research platform or more down to its ability to seek out and buy the best new drugs research around. Whilst some important drugs are coming out of the GSK labs, such as the new cancer drug Cervarix, many of the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s recent successes have come through the acquisition of other companies. For instance, in 2005 GSK purchased Corixa, a company which had the rights to a crucial component of the Cervarix formula. Purchase of the company also helped massively increase GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s vaccine research platform. The purchase of Domantis has also been crucial, adding an anti-body research unit to GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s centres of excellence. Although these can all be classed as research successes for GSK and excellent management decisions, it is not clear whether the creation of the biotechnology research units has really increased creativity and helped to improve the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s sales (Pharma Projects, 2007). Despite this, it is still extreme ly likely that with all the projects in the pipeline, some blockbuster drugs will emerge from the GSK labs over the next few years. However, with such high levels of research spending and short product life cycles before patents run out, is all the spending on research and the push for creativity really necessary? In many ways, the answer is no. Whilst biotechnology is going to be absolutely crucial for the future success of the pharmaceutical industry, it is not clear that GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s change in research policy is really the main reason for its success. Many see these labs as not much more than à ¢Ã¢â€š ¬Ã‹Å"window dressingà ¢Ã¢â€š ¬Ã¢â€ž ¢ and that the actual core of the research policy remains the same. The centres were created in response to a disastrous few years for RD within the company, and probably harbour a genuine desire to improve creativity. However, it seems that much of this is simply PR, and the research methods and practices remain the same: simply bolstered by GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s large capital resources and acquisitions of important companies and drugs. Although GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s policy of acquisitions is creating success, and that some of the drugs that have come out of the research laboratories have been a success, GSK needs to do a fair amount more in order to improve its decisions regarding creativity and research. More of a focus on biotechnology and an increase in the accuracy and efficacy of internal monitoring and research is needed to allow GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s research and development department to function more effectively. GSK is still relying too heavily on mergers and acquisitions that are both costly and have potential risks attached to them. This needs to be combated with a larger focus on developing new product lines to keep patents running for longer. With product life cycles short, it can be less costly to develop a new line of the same drug than to develop a new drug completely. Less trial s and tests are needed for such product lines, and they can help maintain profitability on product lines even when patents are reduced. As previously mentioned, the removal of the Augmentin patent in 2002 did have a significant effect on sales, but the newer XR and ES varieties helped combat the problem by being responsible for 35% of all new prescriptions for the drug (Maynard, 2004). In addition, GSK needs to switch its focus from relying on the purchase of drugs and companies to creating these products within their own labs. Now that they have acquired a huge research platform, they should look at refining the processes within the company itself and helping to boost creativity further. Purchasing new companies and adding resources will help in the short-term, but if those companies are not looked after and policies not in place to continue their creativity then the costs will be wasted. GSK needs to push further towards a biotechnology-style of research development, and giv e each department even more flexibility to create new products. With other biotech companies crowding the market, GSK needs to focus even more on this area in order to triumph. Indeed, many of the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s biggest successes have come through the biotechnology field in recent years. As well as Cervarix, the biotech research at GSK has helped to improve the risk benefit ratio of the drug Ziagen and helped to create the Rota virus drug Rotarix (Kalyanasundaram, S. 2005). Overall, a move towards move biotechnology research will help to increase the success of GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s research department. Conclusions and Recommendations In conclusion, the biggest problems facing GSK at this time are the expiration of patents and the pressure to create new drugs and product lines in order to keep sales high and profits increasing. With GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s large capital resource base they are in an excellent position to remain leaders in the market, but there ar e a number of challenges to be faced. Whilst management decisions in recent years have helped to improve productivity and creativity within the research departments, the company still relies too heavily on the acquisitions of other companies for drug innovation. With the increase in biotechnology companies competing with GSK, it is important for them to focus more on the biotechnology research in fields such as cancer research. These areas are primed for growth and with the right setup GSK can take advantage of the market. It is recommended that GSK put in place further measures to move towards a biotechnology research company style, in order to give researchers more freedom and spawn further creativity. Acquisitions should be kept to a minimum due to their cost and potential risk, and lack of obvious long-term advantages. New product lines in existing drugs should also be looked at as an area for growth, as this will help keep the pressure off new drugs being produced and wil l increase product life spans for relatively lower costs. Bibliography Bio Portfolio, 2007, GSKà ¢Ã¢â€š ¬Ã¢â€ž ¢s Cervarix a future blockbuster of 2007, viewed 25th June 2007, https://www.bioportfolio.com/cgi-bin/acatalog/GSK_s_Cervarix_a_future_blockbuster_of_2007.html#a749 Dorey, Emma, 2001, GlaxoSmithKline presents a biotech faÃÆ' §ade, Nature Biotechnology 19, 294 295 (2001). GlaxoSmithKline, 2007, global site, viewed 25th June 2007, https://www.gsk.com Heffner, Steven, 2007, BioMarket Trends: Diabetes Market Opportunities Soaring, Genetic Engineering and Biotechnology News, Jun 1 2007 (Vol. 27, No. 11), available at https://www.genengnews.com/articles/chitem.aspx?aid=2117chid=0 Kalyanasundaram, S. 2005, Biotechnology in India holds a great promise in the future, Monday June 13th 2005, Biospectrum, Available at https://www.biospectrumindia.com/content/GuestColumn/10506133.asp Paton, Maynard, 2004, QUALIPORT: Glaxos Great Accounts, January 22nd 2004, available at https://www.fool.co.uk/qualiport/2004/qualiport040122.htm Pettinger, Richard, 2004, Contemporary Strategic Management, Palgrave Macmillan. Pharma Projects, 2007, Company Analysis: GlaoxSmithKline, viewed 25th June 2007, https://www.pharmaprojects.com/company_analysis/glaxosmithkline-mergers-and-acquisitions.htm

The Awakening †a Feminist Analysis Free Essays

The Awakening  is a  novel  by  Kate Chopin, first published in 1899 , set in  New Orleans  and the Southern  Louisiana  coast at the end of the nineteenth century. The plot centers on Edna Pontellier and her struggle to reconcile her increasingly unorthodox views on femininity and motherhood with the prevailing social attitudes of the turn-of-the-century  South. It is one of the earliest American novels that focuses on women’s issues without condescension. We will write a custom essay sample on The Awakening – a Feminist Analysis or any similar topic only for you Order Now It is also widely seen as a landmark work of early  feminism. Kate Chopin’s  The Awakening  was a bold piece of fiction in its time, and protagonist Edna Pontellier was a controversial character. She upset many nineteenth century expectations for women and their supposed roles. One of her most shocking actions was her denial of her role as a mother and wife. Kate Chopin displays this rejection gradually, but the concept of motherhood is major theme throughout the novel. Edna is fighting against the societal and natural structures of motherhood that force her to be defined by her title as wife of Leonce Pontellier and mother of Raoul and Etienne Pontellier, instead of being her own, self-defined individual. Through Chopin’s focus on two other female characters, Adele Ratignolle and Mademoiselle Reisz, Edna’s options of life paths are exhibited. These women are the examples that the men around Edna contrast her with and from whom they obtain their expectations for her. Edna, however, finds both role models lacking and begins to see that the life of freedom and individuality that she wants goes against both  society  and nature. The inevitability of her fate as a male-defined creature brings her to a state of despair, and she frees herself the only way she can, through suicide. All throughout â€Å"The Awakening,† Kate Chopin shows examples of how women should and should not act in society, in their homes, and with their husbands. In Edna Pontellier’s adopted society, women are viewed more valuable when they conform into the mother-woman role. The mother-woman role is another form of men control, because it dictates how women should idolize their children, worship their husbands, and honor their isolated but inferior positions      As the novel progresses, Edna begins to make increasingly â€Å"open-eyed choice[s] to defy illusions and conventions†. Throughout the novel Edna becomes increasingly sexual, also becoming aware of her sexuality. Her bond of friendship with Robert seems harmless at first, but when he leaves for Mexico Edna believes she is in love with him: â€Å"For the first time she recognized anew the symptoms of infatuation. . . to torture her as it was doing then with the biting conviction that she had lost that which she had held, that she had been denied that which her impassioned, newly awakened being demanded† (Chopin 44). Edna has never had any sexual encounters with Robert, yet her emotions are so aroused by her close friend she is â€Å"infatuated† with him. Until this point, Edna seems to have not realized her feelings for Robert. In time she will call these feelings love, but at this point she is deeply upset because the man she is â€Å"infatuated† with is leaving. Edna’s emotions have been stirred for the first time in a long time, and she is unwilling to merely deal with the fact that the man who did this is leaving. Edna goes into a childlike pout, neglecting the familial duties she previously completed without fail. Edna’s awakening comes in two parts, the emotionally sexual awakening she experiences with Robert and the physically sexual awakening reached with Arobin (Seyersted, Kate Chopin 155). When Robert leaves her the first time, she is upset and broods, unable to believe he left so abruptly, and without saying goodbye. Arobin cannot gain this control over Edna’s emotions, as she distances herself from him and restrains herself from becoming too emotionally attached. Through her experience with Robert, Edna has learned to keep her emotional distance from men, lest she be hurt again. Edna is definitely a more sexual being now than previously in the novel. Before she recoiled at the touch of her closest friend, and now she is indulging in a forbidden kiss, holding Arobin close to prolong the contact. She is also more reserved. Arobin is quite anxious to see Edna again, but Edna pushes him away telling him she will see him at her dinner party, â€Å"not an instant sooner† (Chopin 82). Edna takes control of the situation, pushing Arobin away when he begs to see her again, having come to an enlightened state of being, learning from her mistakes and being an active force in her own life. Edna now makes decisions (such as moving out of the house) based on what is right for her, choices that will drastically affect her life, doing so with open eyes and a clear head. Edna is feminist in nature, but her feminism comes with a price, and not many people are strong enough to endure social ostracizing to enjoy personal freedom. Chopin wonderfully illustrates Edna’s dilemma, showing possible consequences of becoming enlightened outside the context of a broader social movement. By the end of the novel, Chopin still refuses to tell us whether Edna’s awakening is liberating, or if it is tragic. They argue that Edna Pontellier’s awakening is one of mental clarity, and her suicide is a triumphant act. By committing suicide Edna is finally freeing herself from social constraints and possession. Her suicide is an act of liberation, therefore Edna is the ultimate feminist. How to cite The Awakening – a Feminist Analysis, Papers

Strategic Business Context Free Samples â€Myassignmenthelp.Com

Question: Provide an analysis of the broad strategic business context of your selected project. Include details about the departments, stakeholders, location and area of business that may influence uncertainty, risks and issues related to this project. Explain why analysis of the business context is important in project risk appraisal. Answer: Risk management is an approach to identify, analyze and to either accept or to mitigate an event that has a probability of occurrence and could also have an adverse impact on the business of an organisation (BusinessDictionary.com, n.d.). Risk management is one of the most important tasks that the managers have to undertake right from the beginning of a project work as a project can be vulnerable to hundreds of risks that can hinder the operations of a project (Investopedia, 2005) Most of the times, the success of a project work depends upon the ability of the company to deal with the risks that come in the way of the project. If the management is well equipped to deal with the upcoming risks, the project has a greater chance of success whereas if a management does not have the tendency to deal with risks, it will be affected by uncertainties and will ultimately fail in the project (Mindtools.com, n.d.) CONSTRUCTION PROJECT A project related to the planning, coordinating and controlling the construction of residential, commercial, heavy civil, industrial, and environmental buildings is known as a construction project. Construction projects are the costliest projects in the world that account for almost 8-9 percent of the worlds gross domestic product. Due to their large budget and accountability, construction projects are highly vulnerable to a number of risks, which makes it crucial for the project managers to adopt a risk management strategy from the very beginning so that the project has higher chances of success. Further, the involvement of too many stakeholders, in the construction project, makes the project even more vulnerable to risks (Stakeholdermap.com, n.d.). The construction industry has been prone to high risks die to a number of factors. Below given is the lost of few of the factors that increase the risks to a construction project: Issues related to cost and time in the completion of the project High possibilities of disputes Intense competition in the construction industry Reduced margins and risk of losing profits Poor level of worker safety and occupational health Tendency of the contractors to save greater time and money Pressure related to safety and health of the workers Expectancy to receive higher returns of the investment made in the project RISKS IN CONSTRCUTION PROJECTS The risks which are not determined before or during a construction project can have a much greater effect on the project as compared to the risks that have previously been assessed by the management and the risks in construction project can cause very huge loss or damage to life, property and finances of the stakeholders. In general, the risks related to a construction project can be classified into business risks, financial risks, technological risks, project risks and political risks. Let us now discuss the risks that are associated with the construction projects: Risks related to the completion of a project these risks arise when a company undertaking a construction project is not able to complete the project within the specified time. The stakeholders involved in this risk are the contracting company, the contractor and the end users (if any). The contracting company suffers because the project gets delayed. The contractor on the other hand suffers because he/she has to pay for the delays in terms of pre-fixed penalties or deductions on the price of the contract. The contractor also loses his or her reputation for not completing the project on time. If there are any end users of the building being constructed, they suffer because they are deprived of the opportunity to use the structure (Cidc.in, n.d.) Price risk These risks are related to the price of the project, which can fluctuate due to the supply-demand factors. In general, the price of the projects is fixed in the very beginning by the contractors as they prepare the estimates and budgets of the project and required resources. Some contracts are awarded at fixed prices while some contracts can be awarded at variable prices, which means that the prices of the project could vary along the timeline of the project. As a result, any kind of fluctuation in the prices of the resources could actually have a huge impact on the contractor as well as on the contracting party. Resource risk these risks are related to the shortage of raw material that might be required for the day to day work operations of the project. Construction projects are very large in size and they require a vast variety of resources everyday. The unavailability of these resources ca actually has a very negative impact on the project as it might get delayed or the work might come to a halt while the contractor would still have to pay for the labor and operating charges. If the risks related to the availability of resources are not accounted for, the contractor might suffer as there will be delay in the project ("Construction Industry Development Council", n.d.). Technological Risks the technology being used in a construction project can also have significant risks as it might not be up to the mark and could also render wrong or inappropriate results. The technology being used can also effect the successful completion of the operations and the structures might not get built properly. Failure due to technological factors can have impact on the contractor, the contracting company and on the end users as well. The technology failures can easily be seen and are definitely bound to occur if not taken care of. If technological failures occur, the contractor would lose his or her reputation, the contracting party might incur losses while the end users will have to use a structure while is not properly constructed and is prone to the risk of failures. Political Risks Construction projects are also highly vulnerable to political risks as the changes in government, taxes, laws, regulations and policies can have serious impacts on the operations of the project. The local and the national government has a major role to play in the construction project work. Some projects can also face resistance from government agencies half way down the timeline and therefore, it is recommended that the constructors should assess the government risks right in advance and should work accordingly. If the construction project has been initiated by the government itself, then the contractors also include the risk of delays in payments, which can cause a breach in the trust between the two parties. The stakeholders in such risks are the construction companies, the government and the contracting firms. The construction company might lose its business if the political or legal system changes and is against the project (Schieg, 2006). Financial risks There are a great deal of financial risks involved in a construction project. Construction projects are usually very long in duration i.e. a smallest construction project can take up to 1 year to get completed whereas construction of huge buildings or infrastructures can take up 5-q0 years. In such conditions, the financial risks related to the project increase. The contractor needs to make a proper assessment of the time value of money so that he can estimate the cost of the project that would incur after the completion of the project, which would include the interest rates, hike in the prices of the resources, time value of money, exchange rate risks, etc. if these risks are not accounted for, the contractor might have to incur very heavy losses and would not be able to complete the project successfully ("Construction Industry Development Council", n.d.) Health and safety risks Another major risk in the construction industry is related to the health and safety of the construction workers. The employees working in construction industry have to deal with a number of complex machines and work in complex environment that has the risk of failure. Further, the material can sometimes be harmful and can cause injuries if it is not handled properly. It is considered to be one of the biggest risks in the construction industry as a number of workers become victims of health related issues and injuries on a daily basis. The key stakeholders in such risks are the contractor and the employees/workers. The workers would obviously be affected if the work conditions have an adverse impact on their health whereas the contractor might have to pay for the treatment of the employees in case they meet an accident while they are working at the construction site. Therefore, it is highly important for the construction companies to maintain a safe working en vironment ("Risk Management in Construction | process of managing risk", n.d.). The risks identified above are the most important risks when considered from the viewpoint of construction project managers as they can have the greatest impact on the operations of the project. These risks also involve the key stakeholders of the project and it makes it even more important for the managers to asses these risks right from the planning phase of the project. RISK ASSESSMENT TOOLS AND TECHNIQUES There are a number of risk management strategies, tools or techniques that the management of construction firms can use to assess the level of risks and their impacts that would likely be experienced by the organisation. The techniques and strategies used for risk assessment can vary from company to company, industry to industry and project to project. Let us now discuss some risk management strategies or tools that can be used by the managers to assess the risks in the construction project: Risk assessment matrix a risk assessment matrix is one of the best and the easiest ways in strategic and risk management to identify, analyze and manage any type of risks that might occur in the lifetime of a project. The matrix is also known by other names, such as probability and impact matrix. It is a tool that can be used right from the starting of a project to the end of the project and analyze the risks continuously throughout the lifetime of the project (Brighthub Project Management, 2016). Using a risk assessment matrix, the management aims at rating the risks according to the probability of the occurrence of the risk and the likely impact that it would have on the organisation if it actually occurs. The risks are arranged according to priority in the matrix while the priority is decided by computing the product of probability of occurrence of a risk and the likely impact that it would have on the organisation when it occurs. In general, the probability of the occurrence of a risk can be rated in percentage while the impact can be classified into negligible, minor, moderate, significant and severe. For example, if a risk is identified to have an 80-100% probability of occurrence and would have a severe impact on the project, the risk is classified as an extreme risk while a risk with a 1-20% possibility of occurrence and negligible impact on the organisation is classified as minimum risk. The risks are generally divided in to 4 categories, i.e. extreme risk, high risk, moderate risk, low risk and minimum risk ("What is a Risk Matrix?", 2013). Further, these risks can be related to consequences too. In general, minimum risks are known as insignificant risks that have a negligible amount of damage to the the project, low risks are known as marginal risks that do not have much significant damage to the project, moderate risks are the ones which are not a great threat but can still cause of sizable damage, high risks are known as critical risks as they can have significantly large consequences while extreme risks are the ones which have catastrophic consequences, i.e. these can render the project completely useless (Risk Matrix, 2005) The advantages of using a risk matrix are given below: The system of risk matrix is beneficial in promoting a robust discussion so that the actual discussion is much more useful than just the rating. Risk matrix provides a very useful approach that helps in the prioritizing risks according to their possibility of occurrence and possible impact on the organisation. It also helps the management in controlling and running a risk workshop By assigning priority to different risks, the management can efficiently deal with the risks that have a higher priority than the ones which have less possibility of occurrence and would also have a negligible impact. One of the best advantage of a risk assessment matrix is that it provides a graphical or a visual representation of the risk data. Risk Register the risk register is another efficient approach that helps in maintaining a record of all the risks and the results of qualitative risk analysis, quantitative risk analysis and risk response planning. The basic objective of risk register is to keep a detailed account of identified risks, including their description, category, possible causes, possibility of occurrence, impact on the objectives, proposed responses, owners and current status. The risk register is always shared amongst the stakeholders of the project so that they can experience a higher degree of involvement in the project risk management. It facilitates a system of decision making in the organisation by proper definition of the risks and by involving all the stakeholders in the process of risk management (Developing and Populating a Risk Register Best Practice Guidance, 2009) The main components of a risk register are given below: Date the first and the most important component of a risk register is the date. It is important to note the date on which the risks are either identified or modified. The other types of dates that can be included are target or completion dates. Description of the risk this is the column or the row that provides a detailed description of the risks Risk type this is a very important component of the risk register where the type of the risk is identified. This defines the area or the operations to which the risk is related or the business area which would be most impacted by the risks. Likelihood of occurrence the likelihood of occurrence basically provides a description of the possibilities that the risks has of occurrence. The possibility is generally divided into percentage, such as Low (0-30%), Medium (31-70%) and high (70%). Severity of effect it is another component of the risk register which defines the impact that the risks would have on the operations of the organisation. Risk Rank this component of the risk register defines the magnitude or the level of the risk. In general, the rank of a risk is defined as the product of the likelihood of occurrence and the consequences of the risk. Risk trigger these components basically define the triggers that would indicate that the right time has come for the management to deploy all the contingency or preventive measures that they had planned earlier. Prevention plan these are the plans that the management has planned earlier to deal and prevent the risks that had been identified. Contingency plans these plans are related to the situations where the management would want to address the risks once they have occurred (Development, 2013). Risk owner this component of the risk register identifies the people who are responsible for the implementation and prevention of risks using the prevention and contingency plans. Some of the risk owners can be stakeholders, the project team, the project manager, project sponsor. Residual Risk The risk that still remains after all the contingency and prevention plans have been implemented is known as the residual risk and even this is recorded in the risk register (register, 2016). Let us now discuss some of the importance of risk registers: It helps in gaining a better understanding of the risks that the organisation or a project is likely going to face in the near future. It increases the awareness of the project management teams about the extent of the risks that have been identified It helps in differentiation and identification of risks that the organizations management is ready to accept and the level of risks that the organisation itself is willing to accept. It helps in identifying the ability of the management to control and reduce the risk if it occurs (Roughnotes.com, 2016). It helps in reporting the status of the risk at any point of time throughout the lifetime of a project It helps in identifying the triggers and important events that help in recognizing the beginning of a risk related event. It has the greatest benefit of identifying the risk owners, the risk controllers and involving all the stakeholders in the decision making process by sharing the right information with them. It helps in differentiating between the contingency plans and the prevention plans (Roughnotes.com, 2016) It also has a benefit of recorded dates. It informs the management about each and every modification or changes made in the risk management plan (Healthandsafetyatwork.com, 2016). Both the above techniques identified for the purpose of risk assessment and management are two of the best techniques available for any of the organisation to increase the chances of success of its project by successful identification, planning and mitigation of risks. They are not only just flexible but also provide an approach that helps in identification of risks right from the beginning of a project to the end while there can be significant changes made in the running life cycle of a project. Therefore, it is important to undertake such approaches in the life cycle of a project which allows the project management team to have a flexible approach towards risk assessment, management, control and mitigation . IMPLEMENTATION AND RISK PLANS It is never enough to just have risk management strategies until and unless they are implemented along with all the appropriate resources to deal with the risk. An organisation that assesses the risk and is not able to deal with them is never successful in saving the project from the damages of the risks. In general, the risks can be positive and negative. The positive risks are the ones which, if occur, have the potential to get benefits for the company and the project on the overall whereas the negative risks are the ones which, if occur, can have major drawbacks for the company and can result in the failure of the project in extreme cases. Therefore, it is very important to incorporate risk management strategies along with all the required resources to make the best use of the positive risks and at the same time neglect or prepare to deal with the negative risks so that the project can be saved from failure. RISK MANAGEMENT IN PROJECT LIFE CYCLE A major area where the companies fail in the project management approach is when they are not aware of the stages in a project life cycle where as risk management program should be identified and implemented. In general, there is not such particular position in a project life cycle where the risks should be identified by the managers. Rather, the assessment of risks should be started well before the commencement of the project and should be carried out until the project is completed with success. In general, a project has to go through a number of stages and the long duration of construction projects greatly increase the vulnerability of the projects to the changes in risk. In construction projects, new risks can arise on a daily basis, which can be extremely dangerous and can be more drastic than the ones which had been already identified by the project management team. In such a condition, it is definitely required that the risks should be identified on a daily basis according to the changing situations. It should be ensured that with the completion of every short term goal and the beginning of a new operation, the management should once again check and identify the risks that might have a greater possibility of occurrence than before. The management should carefully compare the prevailing situations with the risk register and the risk assessment strategies to once again consider the risks that have failed to occur till that particular time while it would also provide an in sight to the upcoming risks according to the prevailing situations (Anon, 2016). The continuous assessment of risks throughout the life cycle of a project would render the following advantages to an organisation: A system of continuous assessment of risks helps in eliminating the redundant risks or the ones which have failed to occur. It helps in identifying new risks that may arise as a result of change in the situations It helps in reassessing the previously identified risks and assigning them new probabilities based upon the new probability of occurrence and updated impact that could be born by the organisation if the risk occurs. Sometimes, in construction projects, changes in weather conditions, employment rules regulations, governmental policies, etc. can introduce new risks in the project life cycle. Therefore, it helps in reassessing the risks and finding out the new ones. It helps in updating the risk registers and matrix continuously, throughout the life cycle of the project, until it reaches its final stage or is successfully completed. STRATEGIES TO UPDATE RISK REGISTERS THROUGHOUT THE ENTIRE PROJECT As discussed above, it is highly important for the project management teams to continuously make assessment of the risks that have occurred, that did not occur and the ones which have increased probability of occurrence. The risk registers require continuous update so that a better approach towards risk management can be ensured and the chances of success of the project can be increased exponentially. It is never enough to just create a register that contains components related to risks while there is no valid information or if the information is not updated from time to time. The risk registers should evolve along with the life cycle of the project. Let us discuss some strategies that can ensure regular updation of risk registers and other tools and techniques that the organisations or the risk management teams used to analyze and plan to deal with the risks that might occur in the life cycle of a project: It is essential that the risk registers are circulated in all the operational units of the project operational teams so that each one of them can give their feedback about the information contained in the risk registers or make changes that they feel are necessary to keep the register updated. The project manager can fix weekly meetings where front line leaders from all the operational units of a construction project can come together and help in the process of re-assessment of risks. Each of the front line managers are aware of the status of the project and have the ability to provide valuable information that can be used in the process of continuous updation of risk registers. The project manager can also implement a system where the managers or the leaders from all the departments can provide their feedback about the project status and the possibility and impact of future risks through a separate register, which would be continuously analyzed by the risk management team. The team would then extract valuable information from the feedback provided by the operational heads and would make the required changes in the risk registers. Another strategy that the project managers can use to ensure continuous updation of risk registers is to use computer based softwares to feed important data and information. Information systems have always proved their efficiencies in dealing with data and information and allowing the user to easily access and modify them whenever required. Using information systems and softwares, the project managers will be able to track the evolution of the risk registers throughout the lifecycle of the project and would be able to introduce the desirable changes whenever required. Keeping the risk registers and other strategies used for risk assessment is important not just for the project team but is also important for the stakeholders as it provides timely and important information to all and increases their awareness about what exactly is happening in the project. Some of the stakeholders might not be directly involved in the day-to-day activities of the project but they still deserve to know about what all is happening in the project. Further, as they are not involved in the business directly, they can provide valuable feedback to the management by assessing the information from risk matrix or registers from time to time, which might have been actually overlooked by the project management team. ROLE OF STAKEHOLDERS IN RISK REGISTERS There are a number of stakeholders in a construction project, such as the contractor, the sponsor of the project, the employees, the end users, etc. and all of them have their own roles and responsibilities. It is obvious that when the stakeholders have their own stakes invested in the project, they too have some responsibilities towards the project and the risks that are associated with the projects. It becomes the responsibilities of the project management team to involve the stakeholders in the decision making and risk management process and at the same time it is also the responsibilities of the stakeholders to actively participate in the project management process. The stakeholders should be informed of the project status from time to time. The risk registers or the risk matrix should be shared with all the stakeholders as there is always a chance of human error because of which the management could oversee some of the important risks that have a likelihood of occurrence whereas an external viewpoint of the stakeholders and their involvement would ensure that the important risks are not overlooked. Further, the important stakeholders of the project can also arrange for regular meetings or functions where the project management teams would have to come together and disclose all the important information and data to them. In a way, it also falls upon the stakeholders to decide the level up to which the stakeholders want the management to involve them in the decision making process related to risk management. OUTLINE OF RISK MANAGEMENT STRATEGY Risk management is not an easy task at all. There are a number of companies that have tried their best to assess and deal with the risks related to the project but millions of them have fallen victims to identified as well as unidentified risks. One of the major reasons behind the failure of companies and projects due to risks is that they do assess the risks and plan for the mitigation of risks but they do not adopt any approach that could help them reassessing and identification of new risks that come up due to changes in situation. Sticking to the risks and mitigation measures decided before the commence of a project makes a company more vulnerable to the changing environment and any new or unidentified risk can hinder the project lifecycle because the companies are not prepared to deal with them. Even with the implementation of risk registers, a number of companies have reported failure because they do not have proper knowledge and resources that could help the management in prop er utilization of risk register strategies. A number of experts have also given arguments that the failure of risk registers is not just because of individual errors but are also a direct result of the organisation culture and nature, which might not fit with the tools or techniques being used. Another major reason for the failure of risk registers is that it limits the thinking capability, gut feelings and emotions of the managers as they become largely dependent on the information that is explicitly available to them. Further, there is also a belief amongst the managers that risk registers mainly focus on the future which increases their chances of failure because the future can never be accurately determined (Budzier, 2011) Let us now prepare a plan that would help an organisation in preparing and dealing with the risks that might be experienced by them in the near future: First of all, the first and the foremost thing that the management needs to ensure is that the risk management should be incorporated at each and every level od the organisation. The risk management program should be provided with all the resources that are necessary for the success of the project (Blackman, 2015). Secondly, the risk management process should be commenced right from the beginning and should be carried out continuously till the end of the project. The management of risk should be focused on the present as well as on the future, rather than just limiting the program to either the present variables or the future possibilities. Thirdly, no matter what tools or techniques are used for the purpose of risk assessment and mitigation, each and every stakeholder in the project should be aware about all the important information and should also feel that they themselves have a responsibility towards the process of risk management. Regular meetings and sessions should be arranged to identify risks and make necessary modifications in the risk management tools and strategies. Fourthly, the management should actively prioritize the risks that are identified during the lifecycle of the project based upon their likelihood of occurrence and the management should be well prepared to either accept the risks, plan for the mitigation of the risks or to reduce the impact of the risks if they cannot be avoided at all. Fifthly, it is also important for the management to use information systems and technologies in the management of the risks because risk management and assessment is vulnerable to human error and companies cannot afford to lose their projects because of any kind of human error (Developing a Risk Management Strategy, 2005). Lastly, the organisation should never rely upon a single tool or technique to assess and manage risks. For example, organisations can rely upon risk registers to involve stakeholders and to assess and manage risks while it can also adopt a risk assessment matrix to graphically represent the status of the project and the risks associated with it from time to time. CONCLUSION Risk assessment and management is one of the most crucial program that must be carefully planned and executed by all organisations that take up any kind of project, small or big. The business organisations, in the present scenario, are working in a global environment which is highly complex and changing with every second. In such an environment, business organisations and their projects become vulnerable to the changing conditions, which introduce new risks at every turn. Therefore, risk assessment and management should be given a greater importance than it is given in the present times so that the chances of the success of the project can be increased exponentially. REFERENCES Blackman, A. (2015). Effective Risk Management Strategies. [online] Business Envato Tuts+. Available at: https://business.tutsplus.com/tutorials/effective-risk-management-strategies--cms-22887 [Accessed 10 Jun. 2016]. Budzier, A. (2011). The risk of risk registers - Managing risk is managing discourse not tools. 1st ed. [ebook] pp.5-15. 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