Consultancy project (Newspaper),Report style Essay

Consultancy project (Newspaper),Report style - Essay Example Many papers are sponsored by local governments who easily influence content. It may also be argued that there is considerable diversion to online sources for news. Nearly all of the print versions of papers, now have web versions. Most of the graphic elements from the print versions have been adapted to the computer screen, making print and online versions consistent and recognizable. Complicating the mix is the presence of foreign language newspapers, particularly those written in English. Some are English language versions of Russian papers, while others such as The St. Petersburg Times, Moscow Times and Neva News, are exclusively written and published for an English speaking readership. In St. Petersburg, there are no English language TV channels or radio stations, so it is assumed that these newspapers play an important role in the expatriate community as a news source. Quality of newspaper design varies widely. Some designs are surprisingly attractive, perhaps due to competition for readers limited attention span. Much of the style differences can be correlated to the segmentation of the newspaper market and the enormous differences in taste among newspapers target audiences. Newspapers were all originally communist party, or state owned mass media tools and typically ran stories about meetings of Party officials and anti-western propaganda during the Soviet period. Now, many of these papers have evolved into publicly consumable tabloids addressing everyday mundane Russian life. Stories are heavily weighted with scandal, public corruption exposes, and entertainment. Pravdas readership was originally over 13 million during the height of the Soviet Union, but then suffered in the post Soviet collapse and eventually closed down. It has been reborn threefold, and there is an ensuing struggle to legally maintain ownership of the once famous name, now c laimed by three different

Nepotism in the Workplace

Nepotism in the Workplace Introduction Nepotism can be defined as the practice of making employment decisions on the basis of relationship. It can also be defined as hiring or promoting a relative or friend, even if there are other qualified candidates for the position. Nepotism in the workplace is not uncommon, since this is a practice that does not have any universal law attached to it. However, in recent times, states have passed laws to reduce this practice, since it has many ethical issues involved in it. This paper will seek to define nepotism and it would to the international, regional and local organizations where we have seen suspicions of nepotism. It will be difficult to prove that nepotism does in fact occur in any organization; however, based on the link between persons hired and their relations, we have suspicions of the occurrences of nepotism. Nepotism is both seen in the private and public sector. However, based on research, it is more prevalent in the public sector. This paper will also show how nepotism can be detrimental the company on a whole, because there are many consequences which result in nepotism. Some consequences that will be examined include, family conflict in the work place, low staff morale, loss of competent employees, use of the job to carry out unethical acts, use of position to serve their own interest and to the detriment of the company and breach of confidentiality. Nepotism is evident in family owned businesses for the obvious reasons. Families would want to pass the business from generation to generation and this means that the profit will stay within the family and will be inherited by family members. Consequences of Nepotism Although there are consequences of nepotism a pro of this act can create stability and continuity in the organization and this will refer to more family owned businesses. Continuity because if it family owned, the business will continue by passing from generation to generation. Stability because, there will be succession planning which can result in the company being successful. On the flip side of the coin, the consequences out weigh the pros of nepotism. It creates dissatisfaction among employees. When employees are dissatisfied they may have a feeling that their hard work and dedication are not accepted or recognized by the organization. Nepotism can also result in the company losing proficient employees. This can in turn affect the organizations goods and services. Nepotism can also cause fraud in the organization. In addition, family members may bring their conflict into the workplace. Employees may not be able to separate home and work life. This is most seen in cases where hus bands and wives work together and may find it difficult to work together. This may cause a decrease in the morale among staff members. A total breakdown in communication can result because of this, which will trickle down to other employees within the company. Inequity of employees is another issue resulting from Nepotism. Because of this factor, employees tend to show their dissatisfaction by low production of work which has attributed to issues in the work place in terms of upholding discipline among employees. Discipline is an issue because employees believe that since there is no justice in the organization there is no need to follow any policy or procedure. Breach of confidentiality is another consequence of nepotism. This will occur because of the lack of loyalty among employees. Employees may see this as an opportune time for them to practice unethical acts, because they believe because they were hired by a close or relative any practice is appreciated in the organization and they may use this to their advantage to get involved in any kind of unethical behaviour. Where nepotism is prevalent For obvious reasons nepotism is common in family owned businesses and this can be viewed in the more positive terms. Nepotism in family owned businesses can result in continuity in that the business will be passed on from generation to generation. There may be no ethical issues involved in the hiring family members within a family owned business. Nepotism is prevalent in the government offices. For example in the United States of America, Vice President Cheneys wife and his son-in-law Phillip Cheney were hired by President George Bush and were given high level position with the government. The positions given were Assistant Secretary of State and Chief Counsel for the Office of Management and budget respectfully (Congress, USA Today, 2007). President Bush was highly criticized for this, because many believe that were more qualified individuals who fit the job. In Cuba Fidel Castro was President of Cuba for over forty years. His brother Raul Castro is now President and has been in the position from since 2008 to present. Raul was given the position of President without any elections by the people of Cuba. Because of the autocratic leadership style displayed by Fidel and his brother Raul. Many see this as an act of nepotism. In relation to Grenada, we have seen evidence nepotism in the government sectors, in that persons have been employed because of their affiliation and relation to government officials. Research was conducted on some private owned companies in which we saw, a father, wife, daughter and son-in-law were employed within the same organization. Staff members are of the opinion that these individuals were hired because of the family relation. Test Violation The regulations test This test deals with the reaction of your colleagues, if someone made a decision in the presence of an employee, for example to employ your sister-in-law to take up the position of manager of sales. There will be no suspicion or concern, if the business is a small family run business. Since the decision would work and be perfectly understandable considering family owned businesses are normally passed from generation to generation and the continuity relies on the emotional ties within the family. However within any government organization, if the same decision was made some colleagues may start feeling insulted. They may start thinking if there is a fraud plot in the making, and will surely voice their opinion and this will create dissatisfaction. Front page test: What would it look like if we read about it in a newspaper, blog, and twitter? What if the headlines read President of Wal-Mart promotes his nephew as C.E.O. This will no doubt create suspicion in the minds of stakeholders. Also if there is some level of shame or awkwardness about the news, one can assume there is some level of nepotism involved. Exception test: This test seeks to answer two questions. 1. What if everyone did it? If every business owner decided to employ persons that are related to them or persons that are friends, that would cause many implications, for example the skills or qualifications that may be needed at a particular time, a friend or a family may not possess them, which will result in inefficiency. Also that would mean that the main requirement to obtain a job would be on economic terms who you knew, as opposed to being judged on ability or merit. 2. What if they did it to us? There is no doubt that if someone was denied a job because he is not a friend of the employers son, but had all the qualifications and skills necessary to carry out the job would be considered to be nothing short of ludicrous. And this would be impossible for anyone to sit and make sense of. Ethical Approach The utilitarian approach This approach deals with proving the greatest good with the least possible harm. As it relates to nepotism this approach is greatly violated, since nepotism is specifically linked to benefiting only the family members or to close friends of a particular individual and normally causes dissatisfaction to the majority of stakeholders. For example, in a firm where the present Vice President may be contradicting the decision made by the president of that organization, the President may seek to get the Vice President fired so that his friend may become the new Vice President so that the decisions now made by the President can get the go ahead quite easily. (this only benefits the President and the new Vice President) Justice and fairness approach This approach deals with the question, Are we recognizing the rights of those affect? There is no doubt that each employee should be treated equally; there should be no sign of favoritism in the work place. Therefore it would not be ethical for an employer to grant a job to a fishing buddy instead of promoting an employee that is skilled, competent and filled with experience that can confidently fill the vacant position. It is important to note in this case, there will be a chain reaction involved because another employee may be looking forward for the person above him to be promoted, so he will then fill the new vacant position. Therefore when someone on the outside is used to fill the position, there will be a chain reaction of disappointment within the organization. Types of Nepotism Credentials nepotism: This form of nepotism is sometimes concealed but could be very dangerous to both an individual and an organization. In this situation people are given more credit for attending a class and passing but cannot apply what they have learnt. In short credential nepotism means giving someone more credit because they are certified (Young, 2008). They were with us through thick and thin nepotism: This form of nepotism is for the most part perverse and could create a lot of chaos. New performers in an organization tend to realize that old performers (those who have been with organization from inception) are given preferential treatment by management. This clearly shows that old employees are not held to the same employee accountability standards as the new ones (Young, 2008). Referral nepotism: Referral is an employment which is said to be natural. In this case, management asks high performers within the organization to recommend someone for a job opening that needs to be filled. Management hiring someone who turns out to be a poor performer but is tied to a high performer through friendship could lead to chaos in that trying to terminate that poor performer without upsetting the high performer is almost inevitable (Young, 2008). Contribution nepotism: This is a situation where persons within an organization receives preferential treatment because of a one-time contribution that made the organization more successful even though their subsequent performance has been poor or unsatisfactory (Young, 2008). Connection nepotism: is a connection which comes about by virtue of a shared experience such as attending the same school, attend the same church, from the same community, are members of the same sports club or were in the same fraternity. Connection nepotism is inclined to turn a blind eye to low employee performance and poor job fit (Young, 2008). Favoritism: The different types of nepotism mentioned above results in favoritism which is considered to be a killer of the morals o employees (Young, 2008). Ethical Issues Involved Illegal employment discriminations/ inequality Employment discrimination transpires when an employee or applicant is singled out by an employer or their representatives based on factors such as gender, race, age, sexual orientation, religion, disability and several other reasons. For example, an employer who hires only relatives of a particular gender and race oppose to hiring persons who are not relatives and are of a different races and gender (Employeeissues.com, 2010). Wrongful termination Illegal discharge Constructive discharge Wrongful termination is the termination of employment because an employee is a certain age, religion, nationality, gender or sexual orientation. For example, an employer dismisses an employee to hire his or her relative because they share the same religious belief and are of the same race. In this instance, the employer has engaged in illegally discharging employees based on the issue of religious beliefs and race (Employeeissues.com, 2010). Constructive discharge is a form of wrongful discharge which occurs when an employee relinquishes his or her job because of nepotism in the workplace which makes working conditions unbearable (Employeeissues.com, 2010). Stakeholders A person, organization that has a direct or indirect interest or involvement in an organization is known as a stakeholder. A stakeholder can affect or be affected by the actions objectives and policies taken by the organization. Different stakeholders are entitled to different considerations since they are not all equal (Gitman, 2009). The key stakeholders who are affected by nepotism are employees, families, management, companies and institutions, shareholders, society and customers. Research has shown that nepotism has a negative effect on job satisfaction, job turnover and Human Resource Management. Any undesirable decision made by any organization impacts heavily on management. Nepotism paralyzes and exposes a company or institution as it undermines their competence, intentions and level of fairness. This could lead to reduce revenue, production, quality of goods and services and company ratings (Arasli, Bavik, Ekiz, 2006) . The stakeholder who is mostly affected by nepotism is the employees. The employees as stakeholders are those who ought to see the direction in which the business is heading. They are the ones who are supposed to point to little changes that have been made that aroused their suspicions. Nepotism is considered to be a practice which is inequitable to workers who are more competent and qualified. Nepotism directly affects an employee level of job satisfaction in such a way that management does not recognize their commitment and effort made to the organization (Arasli, Bavik, Ekiz, 2006). Nepotism created dissatisfaction, makes workers feel offended, lowers employees moral and also low level of discipline (workers who sense unfairness question whether rules should be followed or not) in an organization. This could lead to workers producing unsatisfactory output, breach in the organizations confidentiality and lack of loyalty among employees. Nepotism could also lead to companys reputati on being tarnished since unsatisfied workers could use negative word of mouth to express their dissatisfaction. Company could suffer from reduced revenue, profits and may increase fraud (Bush-Bacelis, 2010). The negative effects of nepotism on the employees could be reflected on their families and subsequently societies. Low morale, poor job satisfaction, job turnover are issues which arise from the work place and could contribute instability within the home. Nepotism could affect a family psychologically (e.g. disgruntled parents taking it out on children) and financially (quitting job because of nepotism, therefore not being able to provide for family). Nepotism could lead to discrimination among community members and those who have suffered from the repercussions of nepotism tend to dislike those who benefited from it, race, sexual orientation and religious beliefs (Morris, 2005). A shareholders main goal is to maximize their return on investments. With an issue such as nepotism which could lead several negative effects which have been mentioned above, investors would become very interested in the issues at hand. This issue could determine the amount of return a shareholder receives on his or her investment. Unhappy share holders may seek to replace management and might even consider taking their investments elsewhere. Executives especially Human Resource Personnel should definitely avoid such situations and should always take into consideration the feelings of the shareholders when making decisions (employment decisions) within the company (Morris, 2005). Customers are primarily concerned with price, quality, or services of product. Customers recognize and evaluate quality based on the behaviour and tone of voice and in particular the attitude of the employees who serve them. Poor service and repugnant attitude could lead to a customer changing their buying habits or choosing another place which provides better service. Dissatisfied and furious customers would lead to decrease in profits, increase job turnover and reduction on returns on investments. Therefore, management has to place job satisfaction for employees at the top of their list so that employees could better serve customers which would lead to increase revenue, profits, production and quality (Bush-Bacelis, 2010). Nepotism, although could benefit an organization but it could easily destroy it. Family members could bring in conflicts into the work place which could hamper the effective functioning of the workplace hence changing the companys main purpose from production of quality goods and services and profitability to love and nurture of one another. Nepotism could create disagreements within an organization that could lead to hatred among employees and management. Loss of valued personnel who contributed significantly to the day to day operations and success of the company could be a severe repercussion of nepotism in the work place. This could to a companys inability to maintain its main goal which is profit and quality of goods and services (Ezhel, 2010). Ethically Correct Actions If Human Resource decides to employ family members either that of Executives or any other positions, they should ensure that they meet the following requirements; Appropriate education for job Work experience between 3-5 years outside of the company Pay and performance should be determined by the position which is being filled. Implement and enforce federal laws relating to nepotism. Anti-nepotism laws have only been implemented in some parts of the world like the United States and it needs to be enforced in places where it is not part of their culture. Anti-nepotism laws will be useless in countries like Saudi Arabia since it is part of their culture (Bush-Bacelis, 2010). Implement and enforce anti-nepotism policies which will differ based on the country. Certain states in the US have implemented policies that prevent qualified couples from working under the same company while some believe that it is merely discrimination (Bush-Bacelis, 2010). Managers should try to go all out to not to play favorites and must also ensure that managers under them do the same (Young, 2008). Human Resource Personnel could start periodic employment surveys (every quarter) which would seek to help employees voice their concerns about potential or actual nepotism acts within the organization (Young, 2008). Conclusion Nepotism is an issue that can be very difficult to control once there are relatives or family members who hold key positions in organizations and who have influence of who is hired and who is not hired. In a small population like Grenada, it will be a difficult task to alleviate the problem, since everybody knows everybody in Grenada. The term pull string will always be an issue in our society. Even in the more developed countries, it could be a difficult issue to combat, since there are also family members and friends employed in high level positions who can be very influential in the recruitment process. However, if policies and procedures are implemented, the practice of nepotism can be decreased, and person will be hired for their qualifications and skills as opposed to being hired because of a friendly or a family relation. It is important that organizations avoid the practices of nepotism. Based on our research conducted, nepotism could be very detrimental to an organization and could cause a loss of profit and this could also tarnish the reputation of the organization.

Sir Gawain and the Green Knight & color Essay -- essays research paper

Though often extensive detail may be condemned as mere flowery language, in understanding Sir Gawain and the Green Knight one must make special emphasis on it. In color and imagery itself, the unknown author paints the very fibers of this work, allowing Sir Gawain to discern the nuances of ritualistic chivalry and truth. His quest after the Green Knight is as simple as ones quest toward himself. Through acute awareness of the physical world he encounters Gawain comes to an understanding of the world beyond chivalry, a connection to G-d, the source of truth. He learns, chivalry, like a machine, will always function properly, but in order to derive meaning from its product he must allow nature to affect him. At the onset of Sir Gawain and the Green Night the unknown author goes to great length physically describing the opulence of Christmastime in Arthur's court. For Camelot even Christmastide, a deeply religious holiday, is given significance based on its futile aesthetic veneer rather than inherent religious value. The dais is â€Å"well –decked† (Sir Gawain and the Green Night, 75), and â€Å"costly silk curtains† (76) canopy over Queen Guinevere. The Knights are described as â€Å"brave by din by day, dancing by night† (47 ), this is to say they are the paradigm of bravery and gentility. Both bravery and gentility are not indicative of the knights’ humanity, his feelings and thoughts, rather how appears and acts. Dissimilar to King Arthur’s opulent and boyish description, the Green Knight appears earthly, like an overgrown lumberjack in a debutante ball. His very entrance to the narrative aims to shatter Camelot’s superficial relationship with earthly trials. While Arthur seeks pleasure in hearing tales â€Å"of some fair feat† (92), the Green Knight undermines all formality known to be chivalrous challenging the king to a life risking game. With a â€Å"broad neck to buttocks† (137), (opposed to Arthur’s’ court depicted in the ever regal color red,) the Knight is clothed in green, the color of nature. He appears with no armor other then his faith, merely a utilitarian woodsman’s ax. While Green Knight is described like an animal who is said to have â€Å"wagged his beard† (306) yet understands the cyclical nature of life and truth of mans futility, it is only after Sir Gawain proclaims his lack of strength (though he says it at that poi nt as a matter of chivalry) that he is able to ... ...Gawain’s time in the wilderness, living nature, and his acceptance of the lady’s offering of the green girdle teach him that though he may be the most chivalrous knight in the land, he is nevertheless human and capable of error. Through jest of a game the Green knight enlightens Gawain the short sights of chivalry. He comes to realize within himself that the system which bore him values appearance over truth. Ultimately he understands that chivalry provides a valuable set of ideals toward which to strive, but a person must retain consciousness of his or her own mortality and weakness in order to live deeply. While it is chivalrous notions, which kept him, alive throughout the test of the Green Knight, only through acute awareness of the physical world surrounding him was he able to develop himself and understand the Knights message. From the onset of Sir Gawain and the Green Knight the author relies intensely upon descriptive language to create ambiance and tonality, but it is only later in the work, upon Sir Gawain’s development, that like Gawain, the reader is able to derive meaning from the descriptive physicality and understand the symbiotic relationship of nature and society.

A Person Who Made an Impact on My Life

Dominique Eley 11/1/12 Ms. Conway It was late July, the summer of 2006 to be exact. I was in Chicago spending the summer with my father at his new house. My mother called my dad and me and said I was going to be a big sister. I was only in the 6th grade, but I knew I was going to have to be more responsible and mature. I did not know whether I was going to have a little sister or brother. I was so excited I couldn’t wait to get back home to see my new sibling. I was finally older than someone in my family and could actually be the boss of them.When I found out it was a boy I was so excited, I had so many dreams and a planned out future for him as soon as I laid my eyes on him. He was so tiny with dark brown skin, silky black hair, brown eyes, and dimples. His name was DeBron Samuel Eley. As he grew older I noticed that he had an old man personality and was very wise. He was becoming a mini me, he did everything I did and followed me everywhere I went. I realized that I needed to change my behavior and the things I did because I knew that he wanted to be just like me, and I did not want him to grow up and make bad decisions like I did.I treated my little brother like my son; anytime I bought myself something I would buy him something as well. This little boy really made me turn all my negatives into positives and get more active into school and be a better person. I was on the basketball team in the fall and during the spring I was on the baseball team. DeBron had become my pride; I was more motivated in school and made the honor roll all four quarters in middle school, because I knew that my hard work would inspire him. Fall 2012 he started Kindergarten.The first thing he said when he walked into his class was â€Å"I’m going to be the star student like my big sister. † I knew he would make me proud due to all the dedication and hard work I put into him and myself just for him to grow to be a better person than I am. Every day he would come home with stars and 100’s on his homework and classwork, right along with a good phone call home and a story about how he helped someone in class today. He had a high self-esteem level and didn’t let his pride get in the way of anything.His first year of kindergarten was my senior year of high school, so we both were graduating in June 2012. This little boy made an impact on my life because I would hate to lose another one of my brothers to the streets. He made me look at life from a different perspective and I got to see the brighter side of more things. When I moved away to start my college life he automatically wanted to come to college and that’s what my future goals are for him. Not a lot of people plan to go to college in first grade Someday when I have a son; I’m going to raise him the same way I did my little brother.

Digital Fortress Chapter 110-114

Chapter 110 Jabba stared blankly at the printout Soshi had just handed him. Pale, he wiped his forehead on his sleeve. â€Å"Director, we have no choice. We've got to kill power to the databank.† â€Å"Unacceptable,† Fontaine replied. â€Å"The results would be devastating.† Jabba knew the director was right. There were over three thousand ISDN connections tying into the NSA databank from all over the world. Every day military commanders accessed up-to-the-instant satellite photos of enemy movement. Lockheed engineers downloaded compartmentalized blueprints of new weaponry. Field operatives accessed mission updates. The NSA databank was the backbone of thousands of U.S. government operations. Shutting it down without warning would cause life-and-death intelligence blackouts all over the globe. â€Å"I'm aware of the implications, sir,† Jabba said, â€Å"but we have no choice.† â€Å"Explain yourself,† Fontaine ordered. He shot a quick glance at Susan standing beside him on the podium. She seemed miles away. Jabba took a deep breath and wiped his brow again. From the look on his face, it was clear to the group on the podium that they were not going to like what he had to say. â€Å"This worm,† Jabba began. â€Å"This worm is not an ordinary degenerative cycle. It's a selective cycle. In other words, it's a worm with taste.† Brinkerhoff opened his mouth to speak, but Fontaine waved him off. â€Å"Most destructive applications wipe a databank clean, â€Å"Jabba continued, â€Å"but this one is more complex. It deletes only those files that fall within certain parameters.† â€Å"You mean it won't attack the whole databank?† Brinkerhoff asked hopefully. â€Å"That's good, right?† â€Å"No!† Jabba exploded. â€Å"It's bad! It's very fucking bad!† â€Å"Cool it!† Fontaine ordered. â€Å"What parameters is this worm looking for? Military? Covert ops?† Jabba shook his head. He eyed Susan, who was still distant, and then Jabba's eyes rose to meet the director's. â€Å"Sir, as you know, anyone who wants to tie into this databank from the outside has to pass a series of security gates before they're admitted.† Fontaine nodded. The databank's access hierarchies were brilliantly conceived; authorized personnel could dial in via the Internet and World Wide Web. Depending on their authorization sequence, they were permitted access to their own compartmentalized zones. â€Å"Because we're tied to the global Internet, â€Å"Jabba explained, â€Å"hackers, foreign governments, and EFF sharks circle this databank twenty-four hours a day and try to break in.† â€Å"Yes,† Fontaine said, â€Å"and twenty-four hours a day, our security filters keep them out. What's your point?† Jabba gazed down at the printout. â€Å"My point is this. Tankado's worm is not targeting our data.† He cleared his throat. â€Å"It's targeting our security filters.† Fontaine blanched. Apparently he understood the implications-this worm was targeting the filters that kept the NSA databank confidential. Without filters, all of the information in the databank would become accessible to everyone on the outside. â€Å"We need to shut down,† Jabba repeated. â€Å"In about an hour, every third grader with a modem is going to have top U.S. security clearance.† Fontaine stood a long moment without saying a word. Jabba waited impatiently and finally turned to Soshi. â€Å"Soshi! VR! NOW!† Soshi dashed off. Jabba relied on VR often. In most computer circles, VR meant â€Å"virtual reality,† but at the NSA it meant vis-rep-visual representation. In a world full of technicians and politicians all having different levels of technical understanding, a graphic representation was often the only way to make a point; a single plummeting graph usually aroused ten times the reaction inspired by volumes of spreadsheets. Jabba knew a VR of the current crisis would make its point instantly. â€Å"VR!† Soshi yelled from a terminal at the back of the room. A computer-generated diagram flashed to life on the wall before them. Susan gazed up absently, detached from the madness around her. Everyone in the room followed Jabba's gaze to the screen. The diagram before them resembled a bull's-eye. In the center was a red circle marked data. Around the center were five concentric circles of differing thickness and color. The outermost circle was faded, almost transparent. â€Å"We've got a five-tier level of defense,† Jabba explained. â€Å"A primary Bastion Host, two sets of packet filters for FTP and X-eleven, a tunnel block, and finally a PEM-based authorization window right off the Truffle project. The outside shield that's disappearing represents the exposed host. It's practically gone. Within the hour, all five shields will follow. After that, the world pours in. Every byte of NSA data becomes public domain.† Fontaine studied the VR, his eyes smoldering. Brinkerhoff let out a weak whimper. â€Å"This worm can open our databank to the world?† â€Å"Child's play for Tankado,† Jabba snapped. â€Å"Gauntlet was our fail-safe. Strathmore blew it.† â€Å"It's an act of war,† Fontaine whispered, an edge in his voice. Jabba shook his head. â€Å"I really doubt Tankado ever meant for it to go this far. I suspect he intended to be around to stop it.† Fontaine gazed up at the screen and watched the first of the five walls disappear entirely. â€Å"Bastion Host is toast!† a technician yelled from the back of the room. â€Å"Second shield's exposed!† â€Å"We've got to start shutting down,† Jabba urged. â€Å"From the looks of the VR, we've got about forty-five minutes. Shutdown is a complex process.† It was true. The NSA databank had been constructed in such a way as to ensure it would never lose power-accidentally or if attacked. Multiple fail-safes for phone and power were buried in reinforced steel canisters deep underground, and in addition to the feeds from within the NSA complex, there were multiple backups off main public grids. Shutting down involved a complex series of confirmations and protocols-significantly more complicated than the average nuclear submarine missile launch. â€Å"We have time,† Jabba said, â€Å"if we hurry. Manual shutdown should take about thirty minutes.† Fontaine continued staring up at the VR, apparently pondering his options. â€Å"Director!† Jabba exploded. â€Å"When these firewalls fall, every user on the planet will be issued top-security clearance! And I'm talking upper level! Records of covert ops! Overseas agents! Names and locations of everyone in the federal witness protection program! Launch code confirmations! We must shut down! Now!† The director seemed unmoved. â€Å"There must be some other way.† â€Å"Yes,† Jabba spat, â€Å"there is! The kill-code! But the only guy who knows it happens to be dead!† â€Å"How about brute force?† Brinkerhoff blurted. â€Å"Can we guess the kill-code?† Jabba threw up his arms. â€Å"For Christ sake! Kill-codes are like encryption keys-random! Impossible to guess! If you think you can type 600 trillion entries in the next forty-five minutes, be my guest!† â€Å"The kill-code's in Spain,† Susan offered weakly. Everyone on the podium turned. It was the first thing she had said in a long time. Susan looked up, bleary-eyed. â€Å"Tankado gave it away when he died.† Everyone looked lost. â€Å"The pass-key†¦Ã¢â‚¬  Susan shivered as she spoke. â€Å"Commander Strathmore sent someone to find it.† â€Å"And?† Jabba demanded. â€Å"Did Strathmore's man find it?† Susan tried to fight it, but the tears began to flow. â€Å"Yes,† she choked. â€Å"I think so.† Chapter 111 An earsplitting yell cut through the control room. â€Å"Sharks!† It was Soshi. Jabba spun toward the VR. Two thin lines had appeared outside the concentric circles. They looked like sperm trying to breach a reluctant egg. â€Å"Blood's in the water, folks!† Jabba turned back to the director. â€Å"I need a decision. Either we start shutting down, or we'll never make it. As soon as these two intruders see the Bastion Host is down, they'll send up a war cry.† Fontaine did not respond. He was deep in thought. Susan Fletcher's news of the pass-key in Spain seemed promising to him. He shot a glance toward Susan in the back of the room. She appeared to be in her own world, collapsed in a chair, her head buried in her hands. Fontaine was unsure exactly what had triggered the reaction, but whatever it was, he had no time for it now. â€Å"I need a decision!† Jabba demanded. â€Å"Now!† Fontaine looked up. He spoke calmly. â€Å"Okay, you've got one. We are not shutting down. We're going to wait.† Jabba's jaw dropped. â€Å"What? But that's-â€Å" â€Å"A gamble,† Fontaine interrupted. â€Å"A gamble we just might win.† He took Jabba's cellular and punched a few keys. â€Å"Midge,† he said. â€Å"It's Leland Fontaine. Listen carefully†¦.† Chapter 112 â€Å"You better know what the hell you're doing, Director,† Jabba hissed. â€Å"We're about to lose shut-down capability.† Fontaine did not respond. As if on cue, the door at the back of the control room opened, and Midge came dashing in. She arrived breathless at the podium. â€Å"Director! The switchboard is patching it through right now!† Fontaine turned expectantly toward the screen on the front wall. Fifteen seconds later the screen crackled to life. The image on screen was snowy and stilted at first, and gradually grew sharper. It was a QuickTime digital transmission-only five frames per second. The image revealed two men. One was pale with a buzz cut, the other a blond all-American. They were seated facing the camera like two newscasters waiting to go on the air. â€Å"What the hell is this?† Jabba demanded. â€Å"Sit tight,† Fontaine ordered. The men appeared to be inside a van of some sort. Electronic cabling hung all around them. The audio connection crackled to life. Suddenly there was background noise. â€Å"Inbound audio,† a technician called from behind them. â€Å"Five seconds till two-way.† â€Å"Who are they?† Brinkerhoff asked, uneasily. â€Å"Eye in the sky,† Fontaine replied, gazing up at the two men he had sent to Spain. It had been a necessary precaution. Fontaine had believed in almost every aspect of Strathmore's plan-the regrettable but necessary removal of Ensei Tankado, rewriting Digital Fortress-it was all solid. But there was one thing that made Fontaine nervous: the use of Hulohot. Hulohot was skilled, but he was a mercenary. Was he trustworthy? Would he take the pass-key for himself? Fontaine wanted Hulohot covered, just incase, and he had taken the requisite measures. Chapter 113 â€Å"Absolutely not!† The man with the buzz cut yelled into the camera. â€Å"We have orders! We report to Director Leland Fontaine and Leland Fontaine only!† Fontaine looked mildly amused. â€Å"You don't know who I am, do you?† â€Å"Doesn't matter, does it?† the blond fired hotly. â€Å"Let me explain,† Fontaine interjected. â€Å"Let me explain something right now.† Seconds later, the two men were red-faced, spilling their guts to the director of the National Security Agency. â€Å"D-director,† the blond stammered, â€Å"I'm Agent Coliander. This is Agent Smith.† â€Å"Fine,† Fontaine said. â€Å"Just brief us.† At the back of the room, Susan Fletcher sat and fought the suffocating loneliness that pressed down around her. Eyes closed, and ears ringing, she wept. Her body had gone numb. The mayhem in the control room faded to a dull murmur. The gathering on the podium listened, restless, as Agent Smith began his briefing. â€Å"On your orders, Director,† Smith began, â€Å"we've been here in Seville for two days, trailing Mr. Ensei Tankado.† â€Å"Tell me about the kill,† Fontaine said impatiently. Smith nodded. â€Å"We observed from inside the van at about fifty meters. The kill was smooth. Hulohot was obviously a pro. But afterward his directive went awry. Company arrived. Hulohot never got the item.† Fontaine nodded. The agents had contacted him in South America with news that something had gone wrong, so Fontaine had cut his trip short. Coliander took over. â€Å"We stayed with Hulohot as you ordered. But he never made a move for the morgue. Instead, he picked up the trail of some other guy. Looked private. Coat and tie.† â€Å"Private?† Fontaine mused. It sounded like a Strathmore play-wisely keeping the NSA out of it. â€Å"FTP filters failing!† a technician called out. â€Å"We need the item,† Fontaine pressed. â€Å"Where is Hulohot now?† Smith looked over his shoulder. â€Å"Well†¦ he's with us, sir.† Fontaine exhaled. â€Å"Where?† It was the best new she'd heard all day. Smith reached toward the lens to make an adjustment. The camera swept across the inside of the van to reveal two limp bodies propped against the back wall. Both were motionless. One was a large man with twisted wire-rim glasses. The other was young with a shock of dark hair and a bloody shirt. â€Å"Hulohot's the one on the left,† Smith offered. â€Å"Hulohot's dead?† the director demanded. â€Å"Yes, sir.† Fontaine knew there would be time for explanations later. He glanced up at the thinning shields. â€Å"Agent Smith,† he said slowly and clearly. â€Å"The item. I need it.† Smith looked sheepish. â€Å"Sir, we still have no idea what the item is. We're on a need-to-know.† Chapter 114 â€Å"Then look again!† Fontaine declared. The director watched in dismay as the stilted image of the agents searched the two limp bodies in the van for a list of random numbers and letters. Jabba was pale. â€Å"Oh my God, they can't find it. We're dead!† â€Å"Losing FTP filters!† a voice yelled. â€Å"Third shield's exposed!† There was a new flurry of activity. On the front screen, the agent with the buzz cut held out his arms in defeat. â€Å"Sir, the pass-key isn't here. We've searched both men. Pockets. Clothing. Wallets. No sign at all. Hulohot was wearing a Monocle computer, and we've checked that too. It doesn't look like he ever transmitted anything remotely resembling random characters-only a list of kills.† â€Å"Dammit!† Fontaine seethed, suddenly losing his cool. â€Å"It's got to be there! Keep looking!† Jabba had apparently seen enough-Fontaine had gambled and lost. Jabba took over. The huge Sys-Sec descended from his pulpit like a storm off a mountain. He swept through his army of programmers calling out commands. â€Å"Access auxiliary kills! Start shutting it down! Do it now!† â€Å"We'll never make it!† Soshi yelled. â€Å"We need a half hour! By the time we shut down, it will be too late!† Jabba opened his mouth to reply, but he was cut short by a scream of agony from the back of the room. Everyone turned. Like an apparition, Susan Fletcher rose from her crouched position in the rear of the chamber. Her face was white, her eyes transfixed on the freeze-frame of David Becker, motionless and bloody, propped up on the floor of the van. â€Å"You killed him!† she screamed. â€Å"You killed him!† She stumbled toward the image and reached out. â€Å"David†¦Ã¢â‚¬  Everyone looked up in confusion. Susan advanced, still calling, her eyes never leaving the projection of David's body. â€Å"David.† She gasped, staggering forward. â€Å"Oh, David†¦ how could they-â€Å" Fontaine seemed lost. â€Å"You know this man?† Susan swayed unsteadily as she passed the podium. She stopped a few feet in front of the enormous projection and stared up, bewildered and numb, calling over and over to the man she loved.

Antigone - the role of Death and Love in Antigone

Antigone - the role of Death and Love in Antigone Death and Love in AntigoneDeath and love go hand in hand in Greek tragedies. Antigone loves her brother so much that she risks her life to give him the proper burial he deserves. When Haimon discovers his love, Antigone, dead he becomes so overwrought with grief that he plunges his sword into his own side. When the news of Haimon's death reaches his mother, Eurydice, she breaks down and she too kills herself but by stabbing a dagger into her heart. In Antigone, many people will die for someone they love.At the beginning of the story, Antigone and Ismene are arguing about their brother. Antigone desperately wants to give her brother a proper burial, "But as for me, I will bury the brother I love."But Ismene is too scared to go along with the plan, "Antigone, I am so afraid for you!" Antigone hatched a plan where she would sneak out to her brother's body under the cover of night to bury him and perform the proper rituals.English: USS Creon (ARL-11) at anchor, date and pl...After daybre ak, the sentries noticed the layer of dust on the body but no tracks of a caravan of some sort, so they report this to Creon whom undoubtedly was furious that someone would defy his law. Antigone was then caught red handed when she went back to finish burying her brother. Creon then tossed her into a tomb with very little food and water so she would slowly die.Haimon, Antigone's fianc ©, begged his father not to do this but Creon's head is as hard as his heart. Haimon then travels to the crypt where Creon sentenced Antigone so he could free his love. At this time, Creon has a revelation with the help of Teiresias, the blind prophet. When Creon reaches the crypt, he...

Analysis of the Russian Telecommunication Industry at the Case of Mts Essays

Analysis of the Russian Telecommunication Industry at the Case of Mts Essays Analysis of the Russian Telecommunication Industry at the Case of Mts Essay Analysis of the Russian Telecommunication Industry at the Case of Mts Essay Course: Contemporary Strategic Analysis (fall 2011) Analysis of the Russian telecommunication industry the case of MTS 1. - Speculate on the distinctive features of the telecom industry and define their effect on the company strategy. Historical background To start with, the telecommunication industry for a long time seen as a provider of public goods, next to post service and railway, also involves heavy investments at a steady but relatively small cashflow income. Hence, it was seen that economics of scale are need to lead such a business successfully. Historically this industry was highly regulated in form of monopolistic companies owned by the government. According to Fransmann (2011) in the days of the Old Telecoms Industry the conventional wisdom was that telecoms was an example of ‘natural monopoly’, that is due to increasing returns to scale telecoms services could only be provided efficiently by a monopoly provider. Accordingly, in most industrialized countries was dominated by a monopoly network operator. The situation could be described as closed innovation system, very high entry barriers (in fact impossible to enter), very few innovators, fragmented knowledge base, medium-powered incentives, Slow, sequential, innovation process. Because of missing competition the price-quality relationship of telecom services in most countries was a disaster and companies still didn’t manage to operate profitably. This was the case in almost all countries before the 1980 and 90’s when liberalization made it possible for private â€Å"high-tech† players to enter the market when in the mid-1980s, for different political-economic reasons, Japan, the UK and US decided to end the monopolies of their monopoly network operators. The result was the birth of the original new entrants. The new era From the late-1990s, it was clear that a qualitative change had occurred in the Telecoms Industry in the early-1990s, signifying the birth of the New Telecoms Industry. The most evident sign of qualitative change was the rise of the new new entrants who quickly eclipsed the original new entrants and became the biggest threat to state enterprises. For the new entrants fast growth was needed in order to have economics of scale and cost-efficiency to pay back loans for investments and satisfy shareholders (Fransmann, 2011). With such low technological barriers to entry, the result has been a highly competitive market for network services. However, the contribution of specialist technology suppliers was not confined to the supply of technology. A significant bottleneck is the factor of human resources provided through the operations of the labor market to both the original new entrants and new ones. Moreover, financial markets have a big influence as they, firstly, facilitate the entry and initial growth of new entrants, in particular the new entrants and, secondly, facilitate the ‘re-shuffling of the capital stock’ that has taken place as both network operators and specialist technology suppliers with highly valued shares have used their valuable ‘paper’ (shares) to acquire the complementary knowledge and tangible assets of other companies. By so doing, financial markets have facilitated the process of consolidation in the Telecoms Industry The telecommunications industry nowadays provides a number of services such as data, voice services, graphics, television, and video at increasing speeds and through diverse channels. While landline telephonic communication is still the core service mode, wireless communication, internet, cable and satellite program distribution are increasing their share in overall industry earnings. The industry is experiencing rapid deregulation and technology disruption in service offerings. In many markets across the globe, governments are revoking monopolistic policies, and older players face a new breed of competitors. According to Gupter (2008) The market of this industry includes residential customers, small businesses, and big corporate customers. In the residential customers market, competitors rely heavily on price to increase their customer base. Success depends on branding, reputation, and investment in agile order management and billing solutions. The corporate market has different characteristics as compared to residential customers. Big corporate customers are ready to pay premium for the quality and reliability of their voice services and data delivery. They are less price-sensitive when special services like virtual private network, data security, and videoconferencing come into picture. Telecom operators also provide network connectivity services to other companies that need it. The players with far-reaching networks lend circuits to heavy network users like large corporations and internet services providers (Gupter, 2008). Porter’s five forces analysis In order to analyze the industry we can take Porter’s model and look at the five forces which dominate circumstances. Firstly, looking at the rivalry within the market, we can say that from the former monopolistic industry, as described before, the situation went to fierce competition with high price pressure in most markets. Moreover, technologies are changing very fast and, hence, operators need to constantly adapt and to investment into RD. In addition, there are quite high exit barriers as companies have a lot of technical investments which usually cannot be devested without considerable losses. To sum it up, we can say that this industry compresses a highly competitive and difficult environment. When looking at possible substitutes, we can find that the internet makes a huge competition for classical telecom providers. Especially free-internet call services like Skype offer a very good alternative. Anyway, right now there is no real 100% substitute possibility for mobile phone services which could offer the same satisfaction of needs at reasonable cost. Hence, we can conclude that there is only little till medium competition for telecom providers at the very moment. Speaking of suppliers’ power we can conclude that main actors are technology companies selling equipment plus governmental agencies giving licensees which is done usually only once this is not a constant pressure on telecom enterprises. Moreover, we can state that there is a vast number of technology suppliers which decreases their power. On the other hand, the power of buyers strongly increased during the last years as their choice of providers, fighting each other, grew a lot. In some segments or markets customer power can be lower because of less competition (e. g. France, Germany) whereas in other markets it is huge (e. g. Austria, Estonia). To conclude, we can say that the overall situation in the industry is challenging for telecom providers but, nevertheless, many people keep saying that competition is good for business. One approach to deal with these tricky circumstances within the industry is an extensive expansion strategy, which is discussed consequently by the case of MTS. 2. - Summarize the advantages and disadvantages of the company strategy in Russia and in CIS; think of possible ways of improving it. MTS nowadays is the number telecommunication player in the CIS. During 1993-2001, MTS was developing on the domestic market, increasing its coverage area by regional expansion within Russia. In 2002-2004 the company started its internationalization by expanding to neighboring CIS countries and has used a very aggressive strategy driven by mergers and acquisitions. Starting from its home market, Russia, the operator firstly entered Belarus and, consequently, Ukraine by acquiring and development a big local player. Entering new markets According to Lisitsyn (2008), for any company in the mobile communication sector, entering new markets to extend its network largely through the usage of existing infrastructure in the country of destination. From that point of view, the higher the level of its technological development the more attractive is the target market. This factor also strongly favors acquisitions of existing companies, which operate on the local mobile communications market and have their own infrastructure and subscriber base. In addition to that, a regulatory factor is rather important for mobile communications sector as the state quite often tries to protect it from foreign operators. In general, a combination of technological and regulatory considerations largely predetermines foreign market entry mode for the companies in the sector. Entry modes for MTS were predetermined by technological and regulatory considerations. As for target markets, they largely resulted from historical and cultural traditions, common infrastructure network, similar business practices, and development of re-integration process within the framework of the CIS. As the company started its internationalization already in 2002 by entering several markets in the region, it could gradually increase its experience and build up competence and use its knowledge and existing positions as â€Å"the platform† for future expansion to other CIS countries. Due to various types of similarities between Russia and its neighbors MTS may better understand market environment in the region in comparison with Western counterparts, and therefore use this understanding as its competitive advantage. At the same time, the main threats would most probably come not from national telecom service suppliers, but from large Western telecoms with huge financial recourses. Regarding regulatory issues, it is necessary to mention that without the political will of the national authorities MTS could not get access to their privatization processes. In addition to that, due to the high level of monopolization in most of the countries under review, in order to be successful MTS should establish a good relationship with local anti-monopoly agencies. MTS positions itself as an international company and the leading mobile service provider in Russia and the CIS countries. Hence, in three cases (out of four) it entered foreign countries by purchasing the most successful national mobile companies with prominent market shares. Only in Belarus it partly made greenfield investments and then the company did its best to gain the leading position in the local telecom sector. Drawbacks of the acquisition strategy In order to discuss the disadvantages of MTS’ growth strategy we firstly need to sum up its pluses. As discussed before the advantages of external growth, in our case acquisition of already existing telecom firm in new markets, the growth is not limited by internal resources. This means that the company does not need to invest in building up new infrastructure, getting state licenses and creating a first customer base. Moreover, there is not such an extensive pressure on the working capital for such initial investments– instead the firm just acquires another full-functional company which can be seen in the balance sheets and increases the enterprise value. Another point it, that it may reduce the number of competitors on the market. The acquisition can include the managerial skills, customers, goodwill, patents, and other intangible assets of the acquired business. Also, there may be tax and accounting elements which could be available. Added economies of scale may result from the elimination of duplication in facilities, management personnel, purchasing practices, and improved utilization of fixed assets. Nevertheless, the strategy of growth through acquisition has also its drawbacks. This includes that the company also acquire assets specific to the business, meaning that MTS had to acquire the whole target in one piece even if some business units or assets were completely useless and difficult to resell again. Another point is that there might be creditors or minority shareholders of an acquired business. In the case of MTS there are other shareholder in Georgia, Kirgizstan and Armenia, holding each between 25 and 49 percent of the local company’s stock. Such shareholders not only absorb profits but also can bring in their personal interests which might conflict with the group’s expansion strategy. Moreover, in the course of such an MA expansion strategy the company must go through costly negotiations and the problems of corporate valuation. This risk especially applies to MTS’ situation as it is assumed that the operator paid too much for some of its assets acquired. Prices of stakes are usually not evaluated on an asset-based approach but on the basis of discounted future cashflows. Since this take a look in the future and estimate such cashflows is an impossible task, such evaluations are based on assumptions and personal expectations. Recent outlooks – new product markets entry As MTS managed to capture a huge market within the CIS region, they now focus on extending their business field in those markets. By doing so, they again use the MA strategy by building partnerships and closing mergers with expert companies in order to avoid unnecessary investments in RD and infrastructure which can increase entry barriers which may discourage new competition. According to Andrey Dubovskov, the new MTS Groups’ President and CEO (since 2011), the company the merger with Comstar, the leading fixed broadband and cable television provider in Russia, allowed the company to enter the promising fixed line market. Given the low levels of Internet penetration and positive socio-economic factors, as well as the strong brand and large subscriber base of MTS, they believe in a good chance of capturing significant growth in this market. Following the completion of the merger and the integration of Comstar’s operations, wants to offer their customers a wide range of convergent products with quality customer care. On the operational level, the merger will allow MTS to realize hundreds of millions USD in synergies as they cut on SGA and infrastructure-related expenses. As Andrey Dubovskov says, further mergers are planned to expand in other business of such kind. Conclusions According to Lisitsyn (2008), the growth could be explained by two main reasons: An urgent need for modern communication tools on the one hand, and aggressive marketing campaigns of mobile service providers on the other hand. Of course this kind of aggressive expansion strategy could only be achieved by huge capital investments. This capability is bound to a strong and big home-market (Russian Federation) as well as a big and financially solid owner (Sistema). As those factors are fulfilled MTS’ business expansion and growth strategy is absolutely successful. There were some drawbacks mentioned before among which the problem of corporate evaluation plays an essential role. It can be assumed that MTS paid too high prices for some of its acquisition as expectations at the time of transaction were too optimistic. Anyway, capturing a top market position in markets with high potential growth, at least in the long-term perspective (even Ukraine will recover and become a solid economy one day) will pay off. An alternative and more conservative way of growing would have been to use its own experience in terms of technology and marketing by going for the slower â€Å"green-field† approach and fighting local players directly. This sounds good in theory, but as mentioned before the market conditions in CIS are affected by protectionism, entry-barriers and corruption. Hence, to acquire an already existing successful player avoids a lot of troubles. References Gupta, Aman; BPTrends: ‘Pursuit of the Perfect Order: Telecommunications Industry Perspectives’, November 2008 * Fransman, Martin; Telecoms Policy Magazine: Mapping The Evolving Telecoms Industry: The Uses And Shortcomings of The Layer Model, 2011 * Business Monitor International; Canada Telecommunications Report: Regulatory Environment Industry Developments, Canadian Radio-television and Telecommunications Commission (CRTC), 2010 * Dubovskov, Andrey; Financial times: Company interview: MTS Group (MBT); 2011 * Lisi tsyn et. l, Journal of East-West Business: ‘Russian Telecommunication Company MTS Goes to the CIS’, 2008 * Huyghebaert, Nancy; Universiteit Leuven Academic papers: Determinants of Growth through Mergers and Acquisitions An Empirical Analysis, 2008

Canada Drops NETFILE Access Code Requirement

Canada Drops NETFILE Access Code Requirement Before 2013, a four-digit personal NETFILE access code was required in order to use NETFILE to file a Canadian personal income tax return online. The NETFILE access code is no longer required. The only personal identification needed is a social insurance number and date of birth. About NETFILE NETFILE is an electronic tax-filing service that allows a Canadian taxpayer to send an individual income tax and benefit return directly to the Canada Revenue Agency (CRA) using the internet  and a NETFILE-certified software program.  It streamlines the  tax filing process.  NETFILE is considered secure, confidential, faster and more accurate than submitting a paper form in the mail. NETFILE Access Code In the past, a Canadian taxpayer would need an access code sent in the mail in order to file tax returns using NETFILE. By getting rid of the access code requirement, the CRA suggests NETFILE is easier to use and encourages taxpayers to use NETFILE. To get started, a taxpayer should visit the CRA  website, enter personal identifying information and receive access. Safety Measures The Canada Revenue Agency says that dropping the access code requirement does not lower their security standards in any way. The CRA  explains how it now protects the security of taxpayer personal information when Canadian income taxes are filed online. According to the CRA, the agency uses the most secure forms of data encryption available today, the same levels of data encryption that financial institutions use to protect banking information. NETFILE is a one-way, one-time transaction of information. There is no way to change any of the information or go back and view it after it has been transmitted. In fact, if an individual needs to change any personal information on the income tax return, it would need to be updated with the CRA before using NETFILE, as there is no way to change personal  information in NETFILE while in the program. There is no danger of an individual being able to access another persons tax return and claim the refund. Nor is there the possibility of an individual being able to NETFILE a second T1 tax return under another persons name.

Corporate Finance and Risk Essay Example | Topics and Well Written Essays - 3000 words

Corporate Finance and Risk - Essay Example While Cheapmart has had a successful history in the United States and most West European nations, the company has faced some issues in Germany and Japan due to compliance issues with local legislation. Cheapmart is known for providing low cost retail products and is popular with millions of consumers as a cheap alternative for day-to-day groceries. The company sources a major chunk of its products mostly from cheap producers especially in the Far East and South East Asia and relies immensely on sound management for providing quality products at the cheapest prices to its customers. The ability of ‘Cheapmart’ to offer products at highly competitive prices can be attributed directly to its rapid growth as well as a highly efficient logistics system that the company has established with suppliers across the globe enabling it to secure cheap and fresh goods. Cheapmart is also a source of employment with the local communities where it operates. The Account history for Cheapmart has been sourced from its Annual report that provides information on various financial parameters such as Assets (A), Liabilities (D), Total shareholder Equity (E), Earnings before Interest and Taxes (EBIT) and the Interest payment (I). The overall financial performance of the company in terms of these variables during the financial year 2009 has been stated below. Matrices from page 17 to 30 have also been included. The only difference is that the pdf explains the process in a step by step manner and most are in fact exercises for the user. The cumulative probability table and thereafter provides a composite outlook.) From an overall perspective, Cheapmart operates under three market conditions namely good, average and bad. The prospects of sales depend on per-capita consumer spending and the average consumption of a customer in kilos per year (since Cheapmart is primarily a grocery chain). Financial risk: Alan Hippe, CEO of Continental, noted that the total

Discuss the opportunities and difficulties associated with reusing Essay

Discuss the opportunities and difficulties associated with reusing decommissioned offshore installations for generating renewable energy - Essay Example Decommissioning solutions in accordance with the UK legislation concerns about safety and security of the environment, legitimate uses of the sea and support all the economic considerations whenever required. By definition, renewable power sources are those that do not require any fuel as their energy is replenish naturally. There is no constraint on their siting, therefore, because of any requirement to transport fuel rather, the location of the power unit is usually determined by natural features (DoEn, 1988). A basic constraint underlying some of these limitations is the impracticability of storing electricity on a large scale. However the renewable sources require nuclear fusion and fission power plants for the small masses of fuel required, so they can be conveniently sited on the coast with direct cooling for their steam condensers from seawater. Coal-fired power stations, on the other hand, require the transport of very large quantities of fuel and therefore tend to be near coalfields, with air-cooling towers for steam condensation and with makeup water from rivers. Tidal and wave power schemes must of necessity be on the coast or at sea: wind systems, because of their large area requirement, may well be sited offshore. Geothermal plants will probably not be economic for power production but may supply hot water for community heating; this is unlikely to be economic over long transmission distances and so the schemes will be confined to local 'hot dry rock' regions. Solar heating wou ld probably not involve distribution, but would be constrained to direct production and use in buildings in the south of England where there are more hours of sunshine (Peak Energy, 2006) Decommissioning Standards Opportunities Reusing Decommissioned installations is an opportunity in itself that conforms with technicalities like sea-bed clearance, removing installations as and when required, dealing with wastes, observing and analysing remains and monitoring and maintaining a decommissioned site. The Decommissioning Program instead of removing or doing 'from the scratch' installation, abides to the rule of removing partial installations which not only saves time and efforts of the developer but also helps him maintaining a particular standard. In this context the Government is providing full technical support to the renewable energy installation sector by not enforcing any excessive burden onto those who have been declared liable to protect the users of sea and environment. Government provides opportunities to the renewable energy sector to support IMO (International Maritime Organisation) to get along with a standard that conforms to the Removal of offshore installation and structures the Exclusive Economic Zone. In order to protect the Marine environment, the Government is keen to provide full guidance for the offshore oil and gas installations in compliance with the OSPAR Convention (December 2006, Guidance Notes for Industry) which includes support in the form of documents on offshore wind farms. Cost Reduction Reusing decommissioned offshore renewable energy has enabled the BPEO (Best Practicable Environmental Option) to provide least damage to the environment by cutting down the excessive costs in the long and short run. In this way risk is reduced using safety standards of navigation.

The utility of strategic plans in effecting strategic change for Essay

The utility of strategic plans in effecting strategic change for Randstad Holdings NV - Essay Example The researcher states that Randstad Holding NV (or â€Å"Randstad†) has its base in the Netherlands. It is the global company engaged human resource (HR) services industry by providing temporary and contract to staff to various clients. It functions under its five divisions including Staffing, Professionals, Resources (HR) solutions, Search & Selection and In-House Services.   Under its Staffing division, the company can provide temporary staffing, permanent placement. Under Professionals division, the company recruits of middle and senior management position and employees who must have professional qualifications, either for permanent positions or project basis. Human Resources (HR) Solutions division offers HR management and HR consultancy services. In-House Services guides clients to improve labor flexibility, retention, efficiency, and productivity. Its global operations beyond the Netherlands extends those in Chile, France, Canada, Greece, Mexico, India, Germany, Belgiu m, Bulgaria, Luxembourg, Spain, Switzerland, Poland, Portugal, the United States and the United Kingdom. Randstad falls under HR Services industry which can be described to still a growing industry. Having not yet reached its maturity stage based on the recorded growths in the industry and the flexibility being experienced in the world of work and as demanded by players of the globalized economy, the company is thus facing a very favorable environment. The significant macro trends in for the past five years cannot escape the financial crisis of 2008 to 2009 which has reached its global effects. The crisis could actually be considered a global one as biggest economies in the world were severely affected. Until this time, the unemployment level in the US and the UK are still at very high levels and it would appear that the stimulus packages implemented by their governments as a result of the crisis have not yet restored the lost trust from in the capital markets and the banking system . A number of good companies, however, have reflected positive growths in their revenues and profitability starting in 2010 and onwards.

How will electronics fit into your professional life Assignment

How will electronics fit into your professional life - Assignment Example It is amazing to how electronics have changed for the past ten years (Aubusson, Schuck & Burden, 2009). New technologies are coming up each day making my professional life more exciting and easier. Various professions are in need of constant communications. Mobile devices such as smart phones have made communication possible. My devices have made it possible to communicate with colleagues, friends and other professionals. Social media and electronic communication have developed new ways of extending and promoting working life. From blackberry phones to iPhone, technology continues to change after day (Aubusson, Schuck & Burden, 2009). We are aware that new technologies are emerging as a result of innovation that is in various parts of the world. We all depend on technology and utilize it to accomplish certain tasks in the day to day activities. Technology is being initiated and implemented in all circles of life (Eschenbrenner & Nah, 2007). They are everywhere, in our offices, hospital, transport system and the other spheres of life. It is indeed true that we can’t perform well in the absence of technology. Technology has become a priority in many companies and organization. It is, therefore, important for us to learn how to utilize the various technological devices at our disposal. As the world continued to develop, it is of essences to be updated with new technology since technology keep on varying. In the business, for example, technology is important in saving and withdrawing money. The use of technology in business has resulted in extensive benefits yet fewer human resources are in the process. Technology has also been of the essence in storage of the day to day information. Some of this information are vital and is often protected by the same device. Unlike in the past when communication was done by sending letters and waiting for the postal services to deliver and retrieve information, current technology has made it easier for professional to

Civic Engagement Essay Example | Topics and Well Written Essays - 750 words

Civic Engagement - Essay Example Their main objective was to ensure that the voice of the public is heard and attended to. This forum was also intended to strengthen the weakening relationship between the public and the police department and therefore contribute to enhanced national security. This event had drawn large audience because in the previous day, John Diaz, who is the SPD Chief announced his intention to retire from the police service. Another speaker who took more time on the stage addressing the rising violence cases in the community was Captain Ron Wilson, East Precinct commander. General Matt Allen (a guest speaker) explained that the police department is committed to reaching out to the public at large by holding regional meeting purposely to address security issues and concerns of the public in general. In this event, the speaker noted with a lot of concern that club violence was no doubt a major thorn especially in those clubs along Pine and Pike, therefore given first priority over others issues of equal importance. Members of community were getting bothered by the frequency of what was known to be brawls outside the Grimes and the Woods on the 11Avenue. Llen recognized club violence as a complex issue and urged the members of the public to keep dialing 911 for security response. ... To this, John Diaz explained that there were legal policies regulating noise in residential places, but was only that the police department had not been informed of these new developments. However, he explained that the good news was that they was going to established a special police unit to address issues related to community peace as far as operation of night clubs is concerned. He went ahead to explain that the mandate of the proposed police force will be executed in a way that they will not affect business ventures. This implied that business must be executed with strictly compliance with the security policies. In this forum, club violence was a hot topic with the recent incidence at The Social being the reference point. Another issue that heavily criticized by the community was the manner at which the mentally challenged people in the society were treated. The community members in attendance claimed that they had recently witnessed a rise on the Capitol Hill. Concern this unjus t and unfair treatment of the disability member, the area police boss explained that those suffering from mental sickness or panhandling on the streets should not necessarily be locked up in prisons. In the mean time, this problem was addressed through the establishment of what was termed as the ‘Mobile Crisis Unit’ that served as medium term solution. Under this unit, the mentally challenged would be taken to good mental health centers where they would be treated instead of being locked up in caves. While emphasizing on this, Mr. Allen said that the mentally challenged personas do not deserve imprisonment but rather a reconnection with mental health physicians and facilities. While addressing delegates in this forum, Allen expressed hope that the East Precinct will

Article Research Paper Example | Topics and Well Written Essays - 250 words - 1

Article - Research Paper Example The settlement of the dispute was fair. This is because the judge followed the law of the Loose-Fish which states that when a fish is loose, it is fair game to whosoever catches it first (Fast-fish and Loose-fish 575). Since the plaintiffs had forsaken their boats and lines with the whale, the whale was no longer in their custody, thus loose. The article is about possession of property. The article talks about the universal undisputable laws, whether written or unwritten, that are used to solve any disputes that arise over the ownership of property. That is the main theme of the article. The article also discusses a dispute, whereby the judge used the law of Loose-Fish to give a ruling. In addition, the article discusses the common person’s feelings towards the laws of possessing property and gives different examples of situations where the law was applied and how the law seems unfair in most situations. â€Å"Fast-fish and Loose-fish.† n.d. Web. Accessed 15Th September 2014.

Civic Engagement Essay Example | Topics and Well Written Essays - 750 words

Civic Engagement - Essay Example Their main objective was to ensure that the voice of the public is heard and attended to. This forum was also intended to strengthen the weakening relationship between the public and the police department and therefore contribute to enhanced national security. This event had drawn large audience because in the previous day, John Diaz, who is the SPD Chief announced his intention to retire from the police service. Another speaker who took more time on the stage addressing the rising violence cases in the community was Captain Ron Wilson, East Precinct commander. General Matt Allen (a guest speaker) explained that the police department is committed to reaching out to the public at large by holding regional meeting purposely to address security issues and concerns of the public in general. In this event, the speaker noted with a lot of concern that club violence was no doubt a major thorn especially in those clubs along Pine and Pike, therefore given first priority over others issues of equal importance. Members of community were getting bothered by the frequency of what was known to be brawls outside the Grimes and the Woods on the 11Avenue. Llen recognized club violence as a complex issue and urged the members of the public to keep dialing 911 for security response. ... To this, John Diaz explained that there were legal policies regulating noise in residential places, but was only that the police department had not been informed of these new developments. However, he explained that the good news was that they was going to established a special police unit to address issues related to community peace as far as operation of night clubs is concerned. He went ahead to explain that the mandate of the proposed police force will be executed in a way that they will not affect business ventures. This implied that business must be executed with strictly compliance with the security policies. In this forum, club violence was a hot topic with the recent incidence at The Social being the reference point. Another issue that heavily criticized by the community was the manner at which the mentally challenged people in the society were treated. The community members in attendance claimed that they had recently witnessed a rise on the Capitol Hill. Concern this unjus t and unfair treatment of the disability member, the area police boss explained that those suffering from mental sickness or panhandling on the streets should not necessarily be locked up in prisons. In the mean time, this problem was addressed through the establishment of what was termed as the ‘Mobile Crisis Unit’ that served as medium term solution. Under this unit, the mentally challenged would be taken to good mental health centers where they would be treated instead of being locked up in caves. While emphasizing on this, Mr. Allen said that the mentally challenged personas do not deserve imprisonment but rather a reconnection with mental health physicians and facilities. While addressing delegates in this forum, Allen expressed hope that the East Precinct will

An Analysis of Marketing Communications Tools Used by Venture Capital Essay

An Analysis of Marketing Communications Tools Used by Venture Capital Investment funds to attract Investors and Gain their Trust - Essay Example This research will begin with the statement that Venture Capital funds are attracting cash from all over the world to fuel the organic growth of the â€Å"new economy†. The new economy may be defined as an economy characterized by the absence of business cycles or inflations. The new economy usually has an accelerated rate of productivity growth. Industries such as the software industry and e-commerce characterize the new economy. It is the most trending financial services area with huge external interest caused by the recent Silicon Valley IPO(Initial Public Offering) success. Due to the fact that financial services Industry is relatively new Context for academic marketing literature, this dissertation will investigate current and potential utilization of marketing communication strategies that are or could be applied by Venture Capital (VC) Investment funds to attract investors and gain trust in their brand. Marco factors in the background of this research make this case par ticularly interesting. Post credit crisis effects on the financial industry, current global sovereign debt crisis, consumer skepticism, have external, negative impact on trust in the industry. Lerner contends that â€Å" financial crisis appears to have had a substantial negative effect on investors’ willingness to finance innovative entrepreneurship†. However, is it always the case? Most recent 2011private equity sector successes and boom in Venture Capital (VC) investments demonstrate that this sector is somewhat different and despite the economic crisis, money from institutional and private wealth is flowing into these funds with the expectation of high-risk – high-return. Not just high-risk, on top of that, in comparison to traditional Hedge funds, VC funds are perceived as being less transparent and even sometimes associated with money laundering. Hedge fund manager presenting in front of the panel of investors would normally quantify the nature of investme nt strategy.

Impact of FDI on European Economic Development

Impact of FDI on European Economic Development INTRODUCTION The functioning of a market economy under the conditions required by efficiency demands important financial resources, whose allocation must be directed to those areas which in their turn can generate value added and resume the active process of creating added value. If for a company the investment are realised mainly from classical sources, respectively the depreciation fund, profit or issuance of new shares, but with the risk of the dispersion of the proprietary right on business, to which we can add the financing of bank loans, a fairly expensive solution for a company in search of activity diversification. Based on these considerations, the need to review the role and function of investment funds and FDI in the economy, in the reorientation and begining of the investment process is one of utmost importance. Considering the last events that marked the world economy, from which the foreign investment funds, be they even FDI, to which we can add the stock innovation were among the main determinants of the process of translating the investment flows. Though investment funds in the conventional, manifesting as traditional investors, with a pronounced classical character, buying or selling financial instruments, stocks, bonds or other financial instruments or developing new production capacities, in their action they determine a significant impact on the economic activity outlining some features of the economic environment within which they occur. For countries like Romania, for example, or Serbia, this process is actual, but difficult to achieve because it needed more than financial resources. From this point of view Inadequate progress in second-generation reforms provides explanation in variation of FDI inflows. A number of empirical studies focusing on transition economies have corroborated this finding. Garibaldi et al. (2002) have shown, that the quality of institutions explains the variation in FDI flows to transition economies. [1, p.11] The sustenable economic development requires the existence of a set of tools and specific mechanisms through which the financial resources necessary to achieve this goal must be mobilized but especially they must contribute to an efficient redistribution of financial resources in the process of social breeding. The only one able to achieve this requirements are the investments, which succeed through mobilizing the available capital to restart the complex process of production of plusvalue. Directing the financial resources, in the economic policy, to those economic objectives able to develop in their turn a growth of the rate of employment of labor requires a new governance in terms of investments, whose key source should be profit, fund depreciation or GDP, at the economic level. As known, sometimes financial resources available to the national economy are not sufficient to promote massive actions, attracting new finance being required, in addition to foreign capital markets. These completion investments, although they are not quite common in many of the emerging countries, they use them. On the other hand we are witnessing independent investment flows, directed either to initiating new production capacity or upgrading existing ones, promoted by global financial players that make up the foreign investment flows. As it is stated in one of the european documents The fact that the market has failed in the financial sector does not mean that it does not work at all, but points out the need to avoid, namely to correct the wrong market developments, through legislative measures and of targeted surveillance. Therefore, the new policy must be built on the foundation of a market economy, which stimulates and rewards their initiatives and risk taking. [10, pct.3.4]. So the financial resources attracted through foreign investments should be targeted at those areas that present a high reproductive capacity, either by the recognized degree of generating profits or by the significant beneficial efects that they have on the workforce. FDI should ensure a high degree of efficiency, both for the investor who chooses to invest and must be rewarded by high rates of profit, and for the country within which is achieved by increasing the resources mobilized through tax mechanisms, the state budget, and the remune ration for labor involved in achieving the resulting business. Literature review The analysis of the role of FDI in the economy was made in a number of important studies. From these we mention (Serbu, 2006) which claims that promoting FDI is not always in favor of countries that receive these flows, analyzed at least in terms of qualification of employment and not contribute to economic growth, so the role of FDI is questioned. On the other hand ÃÆ'–ZTÃÆ'Å“RK, Ilhan (2007) argues the opposite, namely that the role of FDI in economic growth is major and decisive, which is achieved through multiple channels such as gross capital formation, technology transfer and effects on human capital. In another study[6], Ben Ferretti (2004) explores the relationship between FDI and productivity growth and concludes, after making a brief analysis of the theoretical models, in terms of game-theoretical models, that this is determined by the spatiality and the intensity of FDI flows on economy and economic agents in particular [4]. The same ideas has Damjan Joze et al l (2003) which explores the role of accumulation of FDI and R D on technology transfer and their effect on economies in transition [3] or Hunya, Gabor (2002) which analyzes economic restructuring phenomena from FDI perspectives on manufacturing industry.[5] The analysis Market Integration from Foreign Direct Investment intensity perspective Foreign direct investments consist of significant vectors in achieving economic and social objectives, in the context of diversification of society needs in satisfying the goals promoted at the macroeconomic level. The need for financial resources is an ever growing from year to year and the financial resources attracted from the foreign capital market is a solution to achieve these goals. From this perspective each states ability to attract these resources depends to a very high measure on the degree of integration of national markets in the total investment flows but also on the degree of atraction of each state. In this context the analysis of foreign direct investment in the community economy is of special importance. Referring to GDP make these data to show a high relevance through removing the national economies dimension outlined by each state. These data are presented in the table below. As seen from the data presented above, there is a syncopated evolution of investment flows, both in integrated economies in the economic space, but also for those who want integration (Croatia and Turkey) and especially the most developed economies (USA and Japan). At the EU level we can see an increase in the intensity of FDI during 2004-2007, from 0.9 in 2004 to 3.8 in 2007, meaning an increase of 4.2 times. This growth rate was a syncopated one which means that the european economy has been trained in the massive wave of investment and capital flows with relatively high degree of risk, which resulted that since 2008 this indicator decreased by 1.7 times compared to last year. In the case of member countries we can see a different evolution. If in the case of the last two countries that joined the EU in 2007 we may find a slight improvement, as is the case of Romania, this indicator increased from 3% to 3.5%, a low level compared to 2006 when this indicator recorded 4.8% when the interest of foreign investors was much higher than the economy, or maybe they were just strengthening their investment positions by purchasing generators of economic value added or Bulgaria, which after membership is growing at 12.6% in 2006 to 15.2% in 2007, the next year it registers a 10.3 drop. This situation can result from the inability to pay on which is encumbered the whole bulgarian economy. For the european countries which were old members, this indicator presents a high volatility. After register significant levels of 6.7% as in the case of Germany in 2000 it reaches in 2008 at a value of only 2.4%. Such is the case of France which in 2000 recorded 8.2% and eight years later only 5.2%. These developments are mainly due to the shaken european economic environment, where the investors are orienting and reorienting the capitals according to high profit rates than to business stability. For Serbia, a non-EU country assets owned by foreign entities in Serbia are growing in nominal values. But if we look at share of foreign owned assets in total financial institutions, we may observe that there has been a decrease of 0.2% from 84.3% to 84.1%, despite the entry of 13 new fully foreign owned institutions during the analyzed period. This confirms that financial institutions owned by domestic entities are operating even better than the foreign owned ones. Since we know that before the restructuring of the financial sector in Serbia most banks and insurance companies have operated with significant loss, we may conclude that that remaining domestic owned institution have significantly changed their business culture.[8] Regarding the U.S., the evolution of this indicator for 2000-2006, reflects the difficult moments that this countrys economy has passed. If in 2005 this indicator recorded the lowest level of the period analysed, of only 0.3% (more than up to 5 times compared to 2001), one year later to grow by 500%, due to the trust granted in the economic development through FDI. For the Japanese economy the evolution of this indicator is ranging at around 0.4-0.5%, which means the sustainability of investments supported through these instruments, especially the economy of this country design was based more on capital exports to third countries than absorption of this type of capital in its economy. But 2007 brings a doubling of the level of this indicator actually marking the shift towards exporting the capital investment to emerging economies, in particular. In one of the UNCTAD documents it is shown that The ISD explosion in some developing economies in transition reflects the growing competitiveness of many firms in these economies. The evolution of ISD in some countries was partialy feed by the income from exports of manufactured goods and natural resources, which have increased the financial strength necessary to engage in investment from abroad. Perhaps most important is that the firms in these economies have been increasingly affected by global competition. They came to understand how important it is the entering on international markets and connect to global production systems and knowledge networks. Therefore, their view of the business was internationalized and ambitions and their concerns are more regional or global. .[9]. Over time many countries have became sources of financing through FDI as a solution generating of resources or partners to enhance or start some income-generating activities. The stock of FDI is an important element in the analysis of investment flows in the european economy against the background of increased interdependencies among these economies. In the table nr.2 is presented the FDI stock in some european countries but also for the two biggest economies of the world USA, respectively Japan. If we consider the definition of FDI stocks in the acceptance of UNCTAD these are presented at book value or historical cost, reflecting prices at the time when the investment was made. For a large number of economies, FDI stocks are estimated by either cumulating FDI flows over a period of time or adding flows to an FDI stock that has been obtained for a particular year from national official sources or the IMF data series on assets and liabilities of direct investment [8] From this perspective we can see an increase in direct investment stocks both at EU-27 level over the period 2004-2008, from 15.2% share in GDP from 19.4% share in GDP in 2008. This situation of growth can be observed in the case of Japan but with values much more reduced. If in 2000 in the case of Japan these represented only 1.1% in GDP, seven years later this share was 2.9% in GDP, an increase double to the reference year. This can not be saidin the case of the U.S., where direct investment stocks have a fluctuant evolution. Against this background is noted that The convergence of corporate governance models, combined with ICT development, with an increasing activism manifested by the institutional investors and their reference measure regarding the profitability, all these put the large companies in a position to maximize with any price the profitability (dividends and capital gains) of shares held by them. Considerations on the ability to generate future cash flows as well as the nature of partnership highlighted by the european social model were left on the second level. [11] In most developed economies of the EU-27, namely Germany, France and UK we see during the long analysed period significant growth which means that investments made in this period were so well-consolidated that they increased their value through engaging in activities with value added to high. In the case of the last two states that joined EU in 2007 the situation is quite different. If for Bulgaria since 2007 we saw some increase from 92.9% share in GDP to 96.5% in GDP in 2008, to Romania it means a return to pre-integration values (2006) respectively 35 , 3% share in GDP. Analyzing the situation of direct investment stocks we observe, analysing economy as a whole, with few exceptions, an increase of this indicators value. The causes may be diverse but reflect the economic situation conducive to the development for the period analyzed. In this context the situation intra-EU direct investment reported by EU member states provide an integrative picture on the amplitude of this phenomenon. Each economy is closely linked, interdependencies manifesting deeply both at macroeocnomic level but especially at the micro level, where FDI contributes to strengthening the business relations and the transfer of knowledge and technology. The level of investments made in each national economy and the member states within the EU economic space reflects the importance of this type and level of investment for mobilizing financial resources for economic exploitation. In Serbia FDI in the previous decade has reached US$ 17 billion, which was sufficient to boost the economic activity. Highest investments were in the financial sector, accounting to over US$ 5 billion. This sector which was characterized by low capitalization and weak profitability in the past has due to foreign capital become sector with very high growth rate. The influence of foreign capital to Serbian financial sector was twofold.[8] Evolution is presented in Table 3 Intra-EU direct investment reported by EU Member States, Financial account, Direct investment, in there porting economy for the period 2001-2008. Investment flows that occurred outside the community space have reflected the strength of economic ties with other states that benefit from this transfer of resources. Knowing that they represent over 10% in the company capital or voting rights we see the interes in promoting and acquiring production capacity with significant economic impact. If in the period 2005-2007 we saw a growth of FDI flows within the community space, the year 2008 brings a reduction in these flows, below those of 2002. The investment relations generated by FDI at community level enhance the process of interdependence of community economies, especially that for the old member states like Germany, France, UK, the flows registered massive drops, especially as they represented exporters of financial resources for the transition and emerging economies. In terms of FDI flows, at least for Romania, as an example of an economy new entrant in the community economic space, in the year 2008, according to BNR data there were 9.496 billion euros, mostly oriented towards economic objectives that have been designed for the privatization process as well as for the initiation of new economic objectives like car production capacity at Pitesti or mobile phones in Cluj-Napoca. So in this context, Net participations of the direct foreign investors to the social capita l of foreign direct investment enterprises in Romania amounting to 4.873 billion euros (51.3% of the net flow of ISD). These resulted from the reducing of the participations worth 5.265 billion euros with a net loss, amounting to 392 million euros. The net loss resulted from the decrease in net profit of foreign direct investment enterprises in 2008, worth 6.412 billion euros, with 2.696 billion euros in dividends distributed in 2008 and with foreign direct investment enterprises losses in 2008 amounting to 4.108 billion euros. [12] Opening economies and accepting a high degree of penetration of FDI flows made possible the development of economic sectors, which until yesterday were doomed to decay due to the rising need for capital. Revitalization of these sectors able to generate profits at the expense of FDI has contributed to diversification but generating added value and growth and diversification of portfolio risk. At the end, we may say that quality of operations of Serbian financial institutions is growing, that assets values are rapidly increasing, and that all companies, regardless weather it is domestic or foreign owned are equally profitable. It is certain that this sector is ready to become core of Serbian economy, and a boost for increased FDI in the second stage of transition.[] Regarding the other component, namely The net credit received by firms with foreign direct investment from the foreign direct investors included in the group, amounting to 4.623 billion euros, representing 48.7% of net flow of ISD.[12] This situation defines the degree of atractability for foreign investors that the economy shows, especially because of some factors that accentuate their competitivity degree like very cheap labor force and highly qualified but also the strategic position that this economy has in the community space. The following table gives an overview of direct investment flows as% of GDP, made by the member states of EU. In this context we can see that the community space was an important source of investment for emergent countries in particular. They have targeted primarily the purchase of economic objectives or develop new ones. FDI is an instrument to achieve economic potential. In this context, according to numerous research carried out, it is considered that à ¢Ã¢â€š ¬Ãƒâ€¦Ã‚ ¾A very large number of foreign firms combined with relatively business friendly environment may explain uniqueness of Romania in terms of the existence of very significant knowledge spillovers to domestic firms, as an econometric study of CEEC-8 (excluding Latvia and Lithuania) has shown. Finally yet importantly, the share of FDI in total capital formation together with the length of a period offers some insights as to their relative weight in the economy. The average share of FDI in Gross Domestic Investment of around 20% in the 1997-01 period suggests a significant presence of foreign firms. With around one-fifth of domestic investment carried out by foreign firms, the associated influx of management skills and technology has already had a beneficial effect on the entire economy. [1, p.15] Conclusions As we have seen FDI is an essential component in the economic development, thus creating a proper environment to achieve this point is an object of profound significance for each economy separately. FDI directs the necessary financial funds to those areas that can generate high VAB, implicitly identifying those economic areas with high potential. We must accept however that the promotion of FDI absorption brings some risks, the investor can always choose to leave the country, giving away his investment. The analysis made at the level of the community space, reveals the fact that FDI represented fundamental economic levers to promote economic growth, especially for those countries that joined the EU in the second wave. Massive transformations that have taken place in the community economy had an impact on the flows of FDI. Through FDI, capital was aimed at those companies able to carry on business profit activities, often engaging with themselves a technological transfer contributing to sustenable development as a whole.