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Some of my first professional experiences were with an Israeli Company called Giltek. It is a technology solution provider for the telecommunication industry. I happened to learn a lot about leadership in the professional sphere within this company, both through bad and good examples.
Elkaná Doroth was one of the first persons I met at Giltek. He is an Israeli naval engineer who got his MBA from US about 0 years ago. He speaks French, German, English, Portuguese and Italian. He has lived in six different countries, including four different regions in the world Europe, USA, Middle-East and South America.
As I mentioned, I had really bad leaders in my two years experience with Giltek, but I got the best leadership experiences from Elkaná. It is interesting that within the same corporation we may find totally different leadership styles. Some are completely inefficient and frustrating, while others are motivating and proactive.
Elkaná called me three weeks ago. He would be in Phoenix and invited me to meet him there and I promptly accepted the invitation. As I knew of my third assignment in my leadership class, I decided to pay attention to natural leadership signs at my meeting with Elkaná and use it for this assignment. I knew that it would not be hard to find something I could talk about.
I got to the restaurant just by the same time as Elkaná. We shook hands and shared a brief hug. Then, he immediately invited me to enter the place with him.
We talked for about twenty minutes on how the company is doing and what changes has happened to the industry in Brazil since I left some years ago. During our conversation, he was always very open to listen and even having a fabulous experience with the telecommunications industry, he would listen very carefully to my opinion, think on it and add value to it, which made me feel comfortable in sharing my ideas.
Elkaná was waiting for Ant�nio Carlos, who was one of his engineers and was with him in the trip. At this moment, Ant�nio arrived in the restaurant and approached us. He greeted me and got a place with us on the table.
Ant�nio had just been in meeting with one of Giltek’s main clients. At this meeting, Ant�nio was supposed to get the final acceptance implementation report signed from the client, what would mean Giltek had met all requirements. Also meant that the project was completed and payment was due. Giltek should complete every project with no restriction or dispute in order to get this document, as part of a routine.
Bellow I report a brief conversation between Elkaná and Ant�nio
Elkaná How was the meeting, Ant�nio? Are we done with the project? It is time to go on to the next phase of the project.
Ant�nio I am afraid we won’t be able to step to the next phase now. The meeting took three hours and the client insists on the problem with microwaves installations. They affirm they have ordered brand “X” when we know we had brand “Y” clearly stated in the specification plants for all radio-base installations. This may become a huge issue and all the cost of replacing the microwaves will fall into our budget. I showed them all previous specifications. I explained that the technology under both brands will attend to all their needs, both in short-run and in long-run. Also, I told them we will pay for any purchase price differences they may incur. They are inflexible. I am not sure how we may solve the problem.
Elkaná Ant�nio, after this meeting, what do you think we should do? What would you do if you had to make a decision?
Ant�nio My opinion is that they are an important client. We should not jeopardize our relationship. We may loose some money today but in the long-run we will have much to do with them.
Ekaná I appreciated his opinion.
I would cite three characteristics of Elkaná’s leadership which are apparent in this experience I had with him.
First Ability to listen and willingness to learn from other’s opinion.
He conducts a conversation in such a very intelligent way. Independent on which subject we are talking about, he will always make it interesting. Not only because he will give good insights, but also he will sincerely valorize other’s inputs and think deeply weather he have something to learn from these inputs. This leadership attitude makes me feel comfortable in expressing my ideas and sometimes find out smart reasoning I already had but never though about before. It is a two-way learning process, where both sides feel leveled up and motivated to share their minds. This may be a powerful tool within a company because it will be an incentive to creativity and innovation.
I am sure that Elkaná has much more professional and living experiences than I, but he understands he may still learn a lot if he prompts himself to do so.
Second Employee empowerment.
We can see a great since of empowerment through the way he conducted the conversation with Ant�nio. He listened to his report and finally to his opinion on the decision. This attitude shows interest by other’s leadership and trust on other’s capability to decide.
Small and simple attitudes will surely make a great difference in our leadership. They have the power to connect with people and express non verbal massages that will cause positive or negative effects that words would never do.
Mind that the sample papers like Observation of Naturally-Occurring Leadership presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Showing posts with label free essays. Show all posts
Showing posts with label free essays. Show all posts
Monday, 22 October 2012
Tuesday, 11 September 2012
Old man
We are ready to represent the best custom paper writing assistance that can cope with any task like Old man even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Old man in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
A man was sent many years back to Venice, Italy to finish his education. He knew Italy has the country of romance. While he was there he wanted to find out all about men and their personalities. He wanted to learn about his gondolier, but he was a man who kept everything to himself. One night the man was at casino in St. Mark and there he was seated next to a bunch of Italian men. They seemed like normal Italian men except for one of the men who seemed extremely nervous. The Italian man would look over his shoulder every minute with a frightened look on his face. The man ran into the group of Italian men almost everywhere he went. He noticed that the one Italian man was always there, but was never in the conversation with the other Italian men.
After running into the Italian man in several places the man decided to become friends with the stranger. The Italian man was so excited to have a friend and have someone he could talk to, but he still seemed nervous all the time. The man wanted to help the stranger and told him he wanted to help him and find out what was wrong with him. The stranger said there was nothing the man could do to help him and to never bring it up again. It bothered the man that he didn’t know what was the matter with his new friend, but he didn’t want to hurt him by bringing it up. Carnival time came in Venice and the men had a great time together, but when the carnival ended Lent came.
When the men were at church the man’s new friend became tense when the music was playing. His rolled to the back of his head and he clamped his hands really tight. He then began to sob. On the way home he seemed more nervous than usual and said, “I know my Redeemer liveth!”
They went to their separate rooms, which weren’t very far apart so the man could hear his friend don the hall moving around in his room. The man awoke before sunrise to see his friend standing above his bed. His friend was holding a small package that told his life story in it. The Italian man kissed the other man on the hand and said farewell. The package said not to open for 6 months, and the men kept his word.
Mind that the sample papers like Old man presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
A man was sent many years back to Venice, Italy to finish his education. He knew Italy has the country of romance. While he was there he wanted to find out all about men and their personalities. He wanted to learn about his gondolier, but he was a man who kept everything to himself. One night the man was at casino in St. Mark and there he was seated next to a bunch of Italian men. They seemed like normal Italian men except for one of the men who seemed extremely nervous. The Italian man would look over his shoulder every minute with a frightened look on his face. The man ran into the group of Italian men almost everywhere he went. He noticed that the one Italian man was always there, but was never in the conversation with the other Italian men.
After running into the Italian man in several places the man decided to become friends with the stranger. The Italian man was so excited to have a friend and have someone he could talk to, but he still seemed nervous all the time. The man wanted to help the stranger and told him he wanted to help him and find out what was wrong with him. The stranger said there was nothing the man could do to help him and to never bring it up again. It bothered the man that he didn’t know what was the matter with his new friend, but he didn’t want to hurt him by bringing it up. Carnival time came in Venice and the men had a great time together, but when the carnival ended Lent came.
When the men were at church the man’s new friend became tense when the music was playing. His rolled to the back of his head and he clamped his hands really tight. He then began to sob. On the way home he seemed more nervous than usual and said, “I know my Redeemer liveth!”
They went to their separate rooms, which weren’t very far apart so the man could hear his friend don the hall moving around in his room. The man awoke before sunrise to see his friend standing above his bed. His friend was holding a small package that told his life story in it. The Italian man kissed the other man on the hand and said farewell. The package said not to open for 6 months, and the men kept his word.
Mind that the sample papers like Old man presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Tuesday, 14 August 2012
Striving for Excellence
We are ready to represent the best custom paper writing assistance that can cope with any task like Striving for Excellence even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Striving for Excellence in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
STRIVING FOR EXCELLENCE
Ever since I was a little boy I always wanted to be the best at everything I did. Whether it was in little league or in school I was determined to be the best. Throughout elementary school and into high school I tried my best in each subject but every year I always came to the realization that I always performed well in math. For some reason, math was not difficult for me and as the years past I began to enjoy it more and more. Then in high school I began to have a passion for math and in my senior year I took an accounting class. That accounting class had a dramatic effect on me. I realized I loved accounting because it involved mathematics and the finances of a company. To me, accounting is a subject that incorporates both math and money, my two favorite interests in the world.
Now that I am entering my third year in college I have decided on my major and future career. I want to be a certified public accountant, work for an accounting firm, and hopefully establish my own firm in the future. I believe that people should have many goals in their lives that will make them want to work hard and achieve those goals. I have many goals both personal and educational because I want to live a prosperous and happy life. For instance, I want to become a CPA and be known as a hardworking person who cares about his clients’ best interests. In order for me to become a CPA, I have chosen to attend CSUN where I can obtain an accounting degree at a well-respected university. I am a member of the Business Honors Program at CSUN and as a member I will have the opportunity to achieve my goals because the program challenges me to do well in school. Also, the mentorship program will also be beneficial for me because I will be able to gain guidance and advice from someone who has experience in my major. The symposium series is a great aspect of the program because it teaches a person more about the program and how business works in the real world. The Business Honors Program also has helped me establish relationships with other students in my major that will help me later in life in terms of advisement and job opportunities. Also, I am a member of the Accounting Association and I try to spend as much time to make the club work for me because it is a great opportunity to network and learn more about accounting. I am highly motivated and determined to perform at a high level at the university in order to accomplish my goal of obtaining an accounting degree.
I also have many personal goals that I strive to accomplish. One of them I have already mentioned and that is becoming a CPA. Other personal goals I have set for myself are living a full and healthy life because I know it is important to balance business with pleasure. I want to wed someday and raise a family because I believe that a family makes a person more stable and satisfied with life. I also want to live a healthy life because health is the most important aspect of living happy which is why another personal goal of mine is to exercise regularly. These personal goals can be achieved by having a great career where I can support a family and have extra time to exercise daily and have fun.
Thus, I believe that I am a hardworking individual who is motivated and ready to accomplish all of my goals. I am excited about attending college where I can finally study accounting and create meaningful relationships. I feel ready to perform at a high level, and become a CPA.
Mind that the sample papers like Striving for Excellence presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
STRIVING FOR EXCELLENCE
Ever since I was a little boy I always wanted to be the best at everything I did. Whether it was in little league or in school I was determined to be the best. Throughout elementary school and into high school I tried my best in each subject but every year I always came to the realization that I always performed well in math. For some reason, math was not difficult for me and as the years past I began to enjoy it more and more. Then in high school I began to have a passion for math and in my senior year I took an accounting class. That accounting class had a dramatic effect on me. I realized I loved accounting because it involved mathematics and the finances of a company. To me, accounting is a subject that incorporates both math and money, my two favorite interests in the world.
Now that I am entering my third year in college I have decided on my major and future career. I want to be a certified public accountant, work for an accounting firm, and hopefully establish my own firm in the future. I believe that people should have many goals in their lives that will make them want to work hard and achieve those goals. I have many goals both personal and educational because I want to live a prosperous and happy life. For instance, I want to become a CPA and be known as a hardworking person who cares about his clients’ best interests. In order for me to become a CPA, I have chosen to attend CSUN where I can obtain an accounting degree at a well-respected university. I am a member of the Business Honors Program at CSUN and as a member I will have the opportunity to achieve my goals because the program challenges me to do well in school. Also, the mentorship program will also be beneficial for me because I will be able to gain guidance and advice from someone who has experience in my major. The symposium series is a great aspect of the program because it teaches a person more about the program and how business works in the real world. The Business Honors Program also has helped me establish relationships with other students in my major that will help me later in life in terms of advisement and job opportunities. Also, I am a member of the Accounting Association and I try to spend as much time to make the club work for me because it is a great opportunity to network and learn more about accounting. I am highly motivated and determined to perform at a high level at the university in order to accomplish my goal of obtaining an accounting degree.
I also have many personal goals that I strive to accomplish. One of them I have already mentioned and that is becoming a CPA. Other personal goals I have set for myself are living a full and healthy life because I know it is important to balance business with pleasure. I want to wed someday and raise a family because I believe that a family makes a person more stable and satisfied with life. I also want to live a healthy life because health is the most important aspect of living happy which is why another personal goal of mine is to exercise regularly. These personal goals can be achieved by having a great career where I can support a family and have extra time to exercise daily and have fun.
Thus, I believe that I am a hardworking individual who is motivated and ready to accomplish all of my goals. I am excited about attending college where I can finally study accounting and create meaningful relationships. I feel ready to perform at a high level, and become a CPA.
Mind that the sample papers like Striving for Excellence presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Friday, 13 July 2012
baseball vs soccer
We are ready to represent the best custom paper writing assistance that can cope with any task like baseball vs soccer even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like baseball vs soccer in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
The big difference between baseball and soccer is the people’s excitement.
Soccer is twenty players game in which the ball is never still. Each team is supposed to
run from one side of the field to the other without losing the ball and try to score a gol. In
order to score, the player has to put the ball inside the other team’s arch. In soccer is not
very often to score a gol, But when the home team score a gol, that where you see the
people getting very excited . Each time the home team scores a gol, people
start screaming like crazy gooooollll.
In the soccer stadium, the crowd doesn’t usually sit, they are always screaming and
moving around of the excitement. This is because the ball is always on movement and
there is always a player doing something marvelous with the ball.
After the game, if the home team won, there will be many parties and all kind of
celebrations. People will go out of the stadium screaming that the home team won and
if they have cars, they will take it out and they will start honking. There are also
many people who will go to the bar to drink, they do it in some kind of way to celebrate
the victory of their team.
Baseball is very different from soccer. Is a player game, in which the ball is not
always on movement. In baseball, the player from the other team is suppose to hit the ball
with a bat and he has to run along 4 bases in order to score. In baseball is often to score a
run, that is why the crowd doesn’t get as excited as they do it in soccer when they score a
run.
In baseball, each team has there chances to bat. After they get three outs, they switch
position. The team that was on the field gets to bat and the one who was batting has to go
to the field. The part that is exciting about baseball is when they score a home run. The
crowd get really excited, but still not excited as they do it in soccer.
If the home team wins, the people will not celebrate as they do it in soccer. There
won’t be people honking on the streets or people drinking celebrating the victory.
Mind that the sample papers like baseball vs soccer presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
The big difference between baseball and soccer is the people’s excitement.
Soccer is twenty players game in which the ball is never still. Each team is supposed to
run from one side of the field to the other without losing the ball and try to score a gol. In
order to score, the player has to put the ball inside the other team’s arch. In soccer is not
very often to score a gol, But when the home team score a gol, that where you see the
people getting very excited . Each time the home team scores a gol, people
start screaming like crazy gooooollll.
In the soccer stadium, the crowd doesn’t usually sit, they are always screaming and
moving around of the excitement. This is because the ball is always on movement and
there is always a player doing something marvelous with the ball.
After the game, if the home team won, there will be many parties and all kind of
celebrations. People will go out of the stadium screaming that the home team won and
if they have cars, they will take it out and they will start honking. There are also
many people who will go to the bar to drink, they do it in some kind of way to celebrate
the victory of their team.
Baseball is very different from soccer. Is a player game, in which the ball is not
always on movement. In baseball, the player from the other team is suppose to hit the ball
with a bat and he has to run along 4 bases in order to score. In baseball is often to score a
run, that is why the crowd doesn’t get as excited as they do it in soccer when they score a
run.
In baseball, each team has there chances to bat. After they get three outs, they switch
position. The team that was on the field gets to bat and the one who was batting has to go
to the field. The part that is exciting about baseball is when they score a home run. The
crowd get really excited, but still not excited as they do it in soccer.
If the home team wins, the people will not celebrate as they do it in soccer. There
won’t be people honking on the streets or people drinking celebrating the victory.
Mind that the sample papers like baseball vs soccer presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Thursday, 12 July 2012
Accounting in the new Market
We are ready to represent the best custom paper writing assistance that can cope with any task like Accounting in the new Market even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Accounting in the new Market in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
For my sake, let’s begin with some basic questions
What are stock options? A stock option is a warrant (certificates entitling the holder to acquire shares of stock at a certain price within a stated period) which gives selected employees the option to purchase common stock at a given price over an extended period of time. 1
Why do companies give employees stock options? Stock option plans are used to pay and motivate employees. They are very popular because they meet the objectives of an effective compensation program. 1
What is an effective compensation program? It is one that (1) MOTIVATES EMPLOYEES TO HIGH LEVELS OF PERFORMANCE, () HELPS RETAIN EXECUTIVES AND ALLOW FOR RECRUITMENT OF NEW TALENT, () BASES COMPENSATION ON EMPLOYEE AND COMPANY PERFORMANCE, (4) MAXIMIZES THE EMPLOYEE’S AFTER-TAX BENEFIT AND MINIMIZES THE EMPLOYEE’S AFTER-TAX COST, AND (5) USES PERFORMANCE CRITERIA OVER WHICH THE EMPLOYEE HAS CONTROL. 1
How do stock options specifically meet the objectives of an effective compensation program? Since compensation is directly related to performance of the company’s stock in the long run, employees are motivated to work hard and make the company as successful as possible.
Aren’t options already expensed in company financial statements? Under the intrinsic value method used by most companies, options are computed for inclusion as compensation expense. The problem is most options are reported at zero (discussed under calculating the expense section), implying they have no value and, therefore, no effect on net income. The debate arises from the FASB’s push to use the fair value method, which will assign a definite cost to the use of options as compensation expense. This will, in effect, adjust net income based on the expense. When we read about the push to expense options, we are really reading about the push to switch to the fair value method. From this point on, we will assume ‘expensing’ in the context of this paper actually refers to using the fair value method to expense options.
Why all the fuss over “expensing”? The bottom line is The bottom line! Expensing causes lower reported earnings, which in turn, causes lower earnings per share and, ultimately, lower stock price. The employees holding options want the stock price to be at maximum value when they exercise (cash in) those options.
The ‘pros’ of ‘expensing’ stock options
I. Accurate financial information
Stock options are designed to align employee and shareholder interests while providing everyday workers with a stake in the system. Unfortunately, stock options have recently been used to disguise costs, provide excessive rewards to people already excessively rewarded, and give CEO’s a reason to play games with earnings. In a post-Enron, World-Com, and dot-com investment environment, there is a demand for accurate and reliable financial information. Investors are looking for useful information that can help them make good financial decisions. By expensing stock options, we are providing an accurate financial picture of employee compensation expense. Although the option grants are currently disclosed in the footnotes to financial statements, they dont affect reported earnings when they are issued or when they vest. As a result, the current accounting treatment of options leads to higher reported earnings, with the negative impact on earnings arriving years later when the options are exercised.
To illustrate this point, Merrill Lynch recently calculated that profit at companies in the chip industry would have declined 6 percent on average in 001 if they had expensed options. Intel, for example, would have had net income of $54 million instead of $1. billion. 4
Expensing stock options would move earnings closer to a true earnings figure. Stock options are compensation for employee services, and compensation should be reported as an expense. Alan Greenspan recently commented, “I fear the failure to expense stock option grants has introduced a significant distortion in reported earning-and one that has grown with the increasing prevalence of this form of compensation.” 5
II. Informed investors
Investors have recently been burned due to financial misconduct by several companies. This makes investors leery of information provided by companies about their financial standing. It is important to boost investor confidence (for the sake of our economy) by providing a full and accurate picture of a company’s financial position. Since options do not currently show up on income statements (reported as zero then included only in the footnotes), it may appear companies are hiding pay. This is not the way to regain the average investor’s trust. By expensing, we may move reported earnings closer to true earnings and make general investors more aware of their effects on income. By excluding, investors are less informed than they should be about the true input cost of creating corporate revenues. Alan Greenspan said in his May third speech “Capital employed on the basis of misinformation is likely to be capital misused.” 5
He also made these comments to further support this point “In recent years, substantial capital arguably was wasted on a number of enterprises whose prospects appeared more promising than they turned out to be. This waste is an inevitable byproduct of the risk-taking that generates the growth in our economy. However, the amount of waste becomes unnecessarily large when the earnings reports that help investors allocate investment are inaccurate.” 5
The ‘cons’ of ‘expensing’ stock options
I. Damaging to companies
Some companies contend that if they are forced to expense stock options, (1) raising capital will become more difficult and () the use of options as employee compensation will decline sharply. The logic is this Expensing causes lower reported earnings, and the lower earnings can cause a lower stock price. Due to the lowered stock price, (1) investors will be dissuaded to pump cash into the given company, () employees will not find stock options as attractive, and companies will curb use of options for employees.
The high technology sector is the most vocal in its opposition to expensing options. Stock options make up the majority of compensation for employees because they do not have the cash needed to attract and pay quality people (they are relatively new, start-up companies). Options are used as a promise for big money in the long run. Small high-tech companies believe that they will be placed at a competitive disadvantage with larger companies that can withstand higher compensation charges in the short run. 1 The impact on profits for larger companies is equally significant. A study of Microsoft, the worlds largest corporation based on market capitalization, found that its 18 profit of $4.5 billion would actually have been a loss of $18 billion had its stock options been treated as wage expense. 6
In response to this opposition, which was based primarily on economic consequences arguments, the FASB decided to encourage, rather than require, recognition of compensation cost based on the fair value method and require expanded disclosures. 1
Not all companies agree that expensing will cause significant damage. Many are beginning to make the move towards expensing. 7 The tech community is one voice being drowned out by an entire chorus of voices supporting expensing, an economist recently said, adding that General Electric and about 10 other companies have pledged to begin reporting stock options as an expense. 4 Most of these companies, though, will see very little impact on their earnings per share because they don’t have the large amount of options outstanding that high-tech companies do.
II. Valuation of Options
Opponents of expensing complain the current methods used to determine the value of employee stock options are flawed and subjective. Opponents contend many press reports on the options controversy convey an impression that valuation is a simple matter of plugging numbers into a well-accepted model. It is not that straightforward. Option valuation models require the input of highly subjective assumptions including the expected price volatility of the stock. Because the options granted to employees are not tradable and have long contractual lives and changes in the subjective input assumptions can materially affect the fair value estimate, the models do not necessarily provide a reliable measure of fair value of the option. 8
For example, the Black-Scholes option pricing model most commonly used to value options was not intended to handle employee stock options. It was designed to value readily tradable stock options with relatively short lives and no vesting restrictions. Employee stock options cannot be traded and are lost if an employee leaves before they are exercised. Opponents argue both of these restrictions should result in a price discount which should be factored into the pricing model, but because theres no market standard, FAS 1 doesnt allow companies to estimate what the discount should be. (The Financial Accounting Standards Board does define a calculation for expected pre-vesting forfeitures.)
Alan Greenspan commented on this subject in a recent speech addressing the options controversy “Some have argued against option expensing on the grounds that the Black-Scholes formula, the prevailing means of estimating option expense, is approximate. It is. But, ..., so is a good deal of all other earnings estimation.” 5
The argument concerning the accuracy of the current pricing models is valid, but it still doesn’t prove that options shouldn’t be expensed.
III. Financially accurate without expensing
Some opponents contend that since expensing is required in the footnotes, investors can flip back and subtract the options expense from the earnings statement. The availability of this information makes it unnecessary to require expensing in the body of the statement. Opponents also believe that markets are generally efficient and that share prices reflect available information, so it really doesnt matter if a firm deducts the options expense from earnings as long as the options are disclosed-which they are.
One study that supports this belief is a study by the Federal Reserve that points out there is a self-correcting mechanism with stock options as they affect share prices. The Fed study found that the more options a company grants the less it pays out in dividends, which reduces share prices. Money that would otherwise be used for dividends is used to repurchase shares for exercised options, which prevents dilution. Other studies have found that granting options to senior executives improves their performance, thereby raising profits and shareholder value. Ultimately, in a rational market, stock prices should already reflect the impact of stock options, causing them to be priced correctly. 6
The assumptions in the previous paragraphs are (1) the market is rational and () investors are savvy enough to pick up on information contained in the footnotes. These are dangerous assumptions when you the average investor considering floating money into a stock.
Calculating the expense
To comply with the Statement of Financial Accounting Standards(SFAS) No. 1 “Accounting for Stock-Based Compensation”, companies offering stock based compensation plans must determine the fair value of the options. The Financial Accounting Standards Board (FASB) then gives companies a choice concerning reporting of options. They may use either the fair value method and recognize expenses in the income statement, or the intrinsic value method and disclose in the notes the pro forma impact on net income and earnings per share (if presented) as if the fair value method had been used. 1 Both methods are explained below.
I. Intrinsic value
Intrinsic value is the difference between the market price of the stock and the option’s exercise price (the specified price at which the employee can purchase the stock) at the grant date (the date when the employee is awarded the option). Total compensation cost is determined at the grant date and allocated to the periods benefited by the employee’s services-the service period. The service period is usually the vesting period-the time between the grant date and the vesting date (the date when the employee controls the exercise of the stock option). 1
II. Fair Value Method
Using the fair value approach, total compensation expense is computed based on the fair value of the options that are expected to vest on the grant date. A company can deduct the “fair value” of an option as an expense at the time the option is granted, allocating the cost over the vesting period of the option. (The time of recognition is the same in both methods, only the valuation is different.) Fair value at the grant date is estimated by using an acceptable pricing model. An acceptable pricing model estimates option value based on the following factors which determine its underlying value (1) Volatility of the underlying stock, () the expected life of the options, () the risk-free rate during the option life, and (4) the expected dividends during the option life. The Black-Scholes method is the most commonly used model in valuing options. 1
Black-Scholes Method
The Black-Scholes option pricing model, for which its originators won a
Nobel Prize in 17, is indeed a powerful and useful tool. It values options
according to six factors. Four are known the exercise price, the market price,
the current market rate of interest, and the term of the option. One is more-or-less known dividends. For high tech companies, dividends can be safely set at zero. The last factor is the most difficult the expected volatility of the shares.
Since FASB does not require the Black-Scholes method, just a method that meets the criteria for pricing models, that leaves the door open for companies to use different pricing models. Enter Coca-Cola. One of the first companies to announce plans to expense options, Coke plans to determine fair value by soliciting bids from at least two investment banks and averaging the result. The plan was devised by board member Warren Buffett. There are a lot of decisions that need to be made when you apply Black-Scholes, and they are subjective, explains spokesperson Kari Bjorhus. We felt it would be more fair and objective to ask third parties.
Issues related to calculating expense
The FASB strongly urges companies to use the fair value method, but almost no one does. Instead, they use intrinsic value (the difference between the grant price and the market price). This is almost always zero because options are usually priced at the market value at the time of the grant (market price=$50; option price=$50; $50-$50=$0). The fair market value is then put into a
footnote.10 The opposition comes from the push to use the fair value method because use of this method could cause earnings to be reduced drastically in some situations.
Other Issues
A related concern is the dilution of equity when employee stock options are exercised. The greater number of shares outstanding after exercise means
proportionately lower earnings available to the original shareholders. If properly accounted for, observers believe that investors will become fully aware of this dilution and many share prices will appear far overvalued, leading them to fall sharply. 6 If reported earnings fail to deduct stock options, this may mislead investors and keep them in the dark about the size of the future earnings
dilution. In sum, this argument suggests that investors need better estimates
of earnings in order to value equities properly.
The line is drawn. Investors and legislators stand on one side and
companies on the other, though a few companies, such as Coca-Cola, have now
agreed to begin expensing options.
1 Intermediate Accounting Textbook, Tenth Edition; Kieso, Weygandt, and Warfield.
“Reforming stock options in the Post-Enron, Post-WorldCom Era,” Rosen, Corey; July 00. www.nceo.org/library/reforming stock options; November 5, 00.
“Deducting the Options Expense Much Ado About Nothing,” Strategic Finance, October 00; Deshmukh, Howe, and Luft. InfoTrac Web General Business File; November 4, 00.
4 “National Business Panel Supports Expensing Stock Options,” Knight-Ridder/Tribune Business News; September 18, 00. ETSU Library Online Article Search, InfoTrac Web Info Trac OneFile; November 4, 00.
5 “Stock Options and Related Matters,” Remarks by Chairman Alan Greenspan; May , 00. www.federalreserve.gov/BoardDocs/Speeches/00; November 1, 00.
6 “How stock options affect Corporate Profits,“ Bartlett, Bruce; September 8, 1. www.ncpa.org; November 5, 00.
7 “Expensing those Expensive Options,” What you need to know about stocks. www.stocks.about.com/library/weekly; November 5, 00.
8 “Expensing Stock Options Is a Faddish Fraud,” Alan Reynolds; July 18, 00. www.creators.com; November 1, 00.
“The Value Proposition,” CFO, The Magazine for Senior Financial Executives, October 00; Tim Reason. InfoTrac Web General Business File.
10 “The Stock Options Controversy And The New Economy,” James V. DeLong; June, 00. www.cei.org; November 1, 00.
Mind that the sample papers like Accounting in the new Market presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
For my sake, let’s begin with some basic questions
What are stock options? A stock option is a warrant (certificates entitling the holder to acquire shares of stock at a certain price within a stated period) which gives selected employees the option to purchase common stock at a given price over an extended period of time. 1
Why do companies give employees stock options? Stock option plans are used to pay and motivate employees. They are very popular because they meet the objectives of an effective compensation program. 1
What is an effective compensation program? It is one that (1) MOTIVATES EMPLOYEES TO HIGH LEVELS OF PERFORMANCE, () HELPS RETAIN EXECUTIVES AND ALLOW FOR RECRUITMENT OF NEW TALENT, () BASES COMPENSATION ON EMPLOYEE AND COMPANY PERFORMANCE, (4) MAXIMIZES THE EMPLOYEE’S AFTER-TAX BENEFIT AND MINIMIZES THE EMPLOYEE’S AFTER-TAX COST, AND (5) USES PERFORMANCE CRITERIA OVER WHICH THE EMPLOYEE HAS CONTROL. 1
How do stock options specifically meet the objectives of an effective compensation program? Since compensation is directly related to performance of the company’s stock in the long run, employees are motivated to work hard and make the company as successful as possible.
Aren’t options already expensed in company financial statements? Under the intrinsic value method used by most companies, options are computed for inclusion as compensation expense. The problem is most options are reported at zero (discussed under calculating the expense section), implying they have no value and, therefore, no effect on net income. The debate arises from the FASB’s push to use the fair value method, which will assign a definite cost to the use of options as compensation expense. This will, in effect, adjust net income based on the expense. When we read about the push to expense options, we are really reading about the push to switch to the fair value method. From this point on, we will assume ‘expensing’ in the context of this paper actually refers to using the fair value method to expense options.
Why all the fuss over “expensing”? The bottom line is The bottom line! Expensing causes lower reported earnings, which in turn, causes lower earnings per share and, ultimately, lower stock price. The employees holding options want the stock price to be at maximum value when they exercise (cash in) those options.
The ‘pros’ of ‘expensing’ stock options
I. Accurate financial information
Stock options are designed to align employee and shareholder interests while providing everyday workers with a stake in the system. Unfortunately, stock options have recently been used to disguise costs, provide excessive rewards to people already excessively rewarded, and give CEO’s a reason to play games with earnings. In a post-Enron, World-Com, and dot-com investment environment, there is a demand for accurate and reliable financial information. Investors are looking for useful information that can help them make good financial decisions. By expensing stock options, we are providing an accurate financial picture of employee compensation expense. Although the option grants are currently disclosed in the footnotes to financial statements, they dont affect reported earnings when they are issued or when they vest. As a result, the current accounting treatment of options leads to higher reported earnings, with the negative impact on earnings arriving years later when the options are exercised.
To illustrate this point, Merrill Lynch recently calculated that profit at companies in the chip industry would have declined 6 percent on average in 001 if they had expensed options. Intel, for example, would have had net income of $54 million instead of $1. billion. 4
Expensing stock options would move earnings closer to a true earnings figure. Stock options are compensation for employee services, and compensation should be reported as an expense. Alan Greenspan recently commented, “I fear the failure to expense stock option grants has introduced a significant distortion in reported earning-and one that has grown with the increasing prevalence of this form of compensation.” 5
II. Informed investors
Investors have recently been burned due to financial misconduct by several companies. This makes investors leery of information provided by companies about their financial standing. It is important to boost investor confidence (for the sake of our economy) by providing a full and accurate picture of a company’s financial position. Since options do not currently show up on income statements (reported as zero then included only in the footnotes), it may appear companies are hiding pay. This is not the way to regain the average investor’s trust. By expensing, we may move reported earnings closer to true earnings and make general investors more aware of their effects on income. By excluding, investors are less informed than they should be about the true input cost of creating corporate revenues. Alan Greenspan said in his May third speech “Capital employed on the basis of misinformation is likely to be capital misused.” 5
He also made these comments to further support this point “In recent years, substantial capital arguably was wasted on a number of enterprises whose prospects appeared more promising than they turned out to be. This waste is an inevitable byproduct of the risk-taking that generates the growth in our economy. However, the amount of waste becomes unnecessarily large when the earnings reports that help investors allocate investment are inaccurate.” 5
The ‘cons’ of ‘expensing’ stock options
I. Damaging to companies
Some companies contend that if they are forced to expense stock options, (1) raising capital will become more difficult and () the use of options as employee compensation will decline sharply. The logic is this Expensing causes lower reported earnings, and the lower earnings can cause a lower stock price. Due to the lowered stock price, (1) investors will be dissuaded to pump cash into the given company, () employees will not find stock options as attractive, and companies will curb use of options for employees.
The high technology sector is the most vocal in its opposition to expensing options. Stock options make up the majority of compensation for employees because they do not have the cash needed to attract and pay quality people (they are relatively new, start-up companies). Options are used as a promise for big money in the long run. Small high-tech companies believe that they will be placed at a competitive disadvantage with larger companies that can withstand higher compensation charges in the short run. 1 The impact on profits for larger companies is equally significant. A study of Microsoft, the worlds largest corporation based on market capitalization, found that its 18 profit of $4.5 billion would actually have been a loss of $18 billion had its stock options been treated as wage expense. 6
In response to this opposition, which was based primarily on economic consequences arguments, the FASB decided to encourage, rather than require, recognition of compensation cost based on the fair value method and require expanded disclosures. 1
Not all companies agree that expensing will cause significant damage. Many are beginning to make the move towards expensing. 7 The tech community is one voice being drowned out by an entire chorus of voices supporting expensing, an economist recently said, adding that General Electric and about 10 other companies have pledged to begin reporting stock options as an expense. 4 Most of these companies, though, will see very little impact on their earnings per share because they don’t have the large amount of options outstanding that high-tech companies do.
II. Valuation of Options
Opponents of expensing complain the current methods used to determine the value of employee stock options are flawed and subjective. Opponents contend many press reports on the options controversy convey an impression that valuation is a simple matter of plugging numbers into a well-accepted model. It is not that straightforward. Option valuation models require the input of highly subjective assumptions including the expected price volatility of the stock. Because the options granted to employees are not tradable and have long contractual lives and changes in the subjective input assumptions can materially affect the fair value estimate, the models do not necessarily provide a reliable measure of fair value of the option. 8
For example, the Black-Scholes option pricing model most commonly used to value options was not intended to handle employee stock options. It was designed to value readily tradable stock options with relatively short lives and no vesting restrictions. Employee stock options cannot be traded and are lost if an employee leaves before they are exercised. Opponents argue both of these restrictions should result in a price discount which should be factored into the pricing model, but because theres no market standard, FAS 1 doesnt allow companies to estimate what the discount should be. (The Financial Accounting Standards Board does define a calculation for expected pre-vesting forfeitures.)
Alan Greenspan commented on this subject in a recent speech addressing the options controversy “Some have argued against option expensing on the grounds that the Black-Scholes formula, the prevailing means of estimating option expense, is approximate. It is. But, ..., so is a good deal of all other earnings estimation.” 5
The argument concerning the accuracy of the current pricing models is valid, but it still doesn’t prove that options shouldn’t be expensed.
III. Financially accurate without expensing
Some opponents contend that since expensing is required in the footnotes, investors can flip back and subtract the options expense from the earnings statement. The availability of this information makes it unnecessary to require expensing in the body of the statement. Opponents also believe that markets are generally efficient and that share prices reflect available information, so it really doesnt matter if a firm deducts the options expense from earnings as long as the options are disclosed-which they are.
One study that supports this belief is a study by the Federal Reserve that points out there is a self-correcting mechanism with stock options as they affect share prices. The Fed study found that the more options a company grants the less it pays out in dividends, which reduces share prices. Money that would otherwise be used for dividends is used to repurchase shares for exercised options, which prevents dilution. Other studies have found that granting options to senior executives improves their performance, thereby raising profits and shareholder value. Ultimately, in a rational market, stock prices should already reflect the impact of stock options, causing them to be priced correctly. 6
The assumptions in the previous paragraphs are (1) the market is rational and () investors are savvy enough to pick up on information contained in the footnotes. These are dangerous assumptions when you the average investor considering floating money into a stock.
Calculating the expense
To comply with the Statement of Financial Accounting Standards(SFAS) No. 1 “Accounting for Stock-Based Compensation”, companies offering stock based compensation plans must determine the fair value of the options. The Financial Accounting Standards Board (FASB) then gives companies a choice concerning reporting of options. They may use either the fair value method and recognize expenses in the income statement, or the intrinsic value method and disclose in the notes the pro forma impact on net income and earnings per share (if presented) as if the fair value method had been used. 1 Both methods are explained below.
I. Intrinsic value
Intrinsic value is the difference between the market price of the stock and the option’s exercise price (the specified price at which the employee can purchase the stock) at the grant date (the date when the employee is awarded the option). Total compensation cost is determined at the grant date and allocated to the periods benefited by the employee’s services-the service period. The service period is usually the vesting period-the time between the grant date and the vesting date (the date when the employee controls the exercise of the stock option). 1
II. Fair Value Method
Using the fair value approach, total compensation expense is computed based on the fair value of the options that are expected to vest on the grant date. A company can deduct the “fair value” of an option as an expense at the time the option is granted, allocating the cost over the vesting period of the option. (The time of recognition is the same in both methods, only the valuation is different.) Fair value at the grant date is estimated by using an acceptable pricing model. An acceptable pricing model estimates option value based on the following factors which determine its underlying value (1) Volatility of the underlying stock, () the expected life of the options, () the risk-free rate during the option life, and (4) the expected dividends during the option life. The Black-Scholes method is the most commonly used model in valuing options. 1
Black-Scholes Method
The Black-Scholes option pricing model, for which its originators won a
Nobel Prize in 17, is indeed a powerful and useful tool. It values options
according to six factors. Four are known the exercise price, the market price,
the current market rate of interest, and the term of the option. One is more-or-less known dividends. For high tech companies, dividends can be safely set at zero. The last factor is the most difficult the expected volatility of the shares.
Since FASB does not require the Black-Scholes method, just a method that meets the criteria for pricing models, that leaves the door open for companies to use different pricing models. Enter Coca-Cola. One of the first companies to announce plans to expense options, Coke plans to determine fair value by soliciting bids from at least two investment banks and averaging the result. The plan was devised by board member Warren Buffett. There are a lot of decisions that need to be made when you apply Black-Scholes, and they are subjective, explains spokesperson Kari Bjorhus. We felt it would be more fair and objective to ask third parties.
Issues related to calculating expense
The FASB strongly urges companies to use the fair value method, but almost no one does. Instead, they use intrinsic value (the difference between the grant price and the market price). This is almost always zero because options are usually priced at the market value at the time of the grant (market price=$50; option price=$50; $50-$50=$0). The fair market value is then put into a
footnote.10 The opposition comes from the push to use the fair value method because use of this method could cause earnings to be reduced drastically in some situations.
Other Issues
A related concern is the dilution of equity when employee stock options are exercised. The greater number of shares outstanding after exercise means
proportionately lower earnings available to the original shareholders. If properly accounted for, observers believe that investors will become fully aware of this dilution and many share prices will appear far overvalued, leading them to fall sharply. 6 If reported earnings fail to deduct stock options, this may mislead investors and keep them in the dark about the size of the future earnings
dilution. In sum, this argument suggests that investors need better estimates
of earnings in order to value equities properly.
The line is drawn. Investors and legislators stand on one side and
companies on the other, though a few companies, such as Coca-Cola, have now
agreed to begin expensing options.
1 Intermediate Accounting Textbook, Tenth Edition; Kieso, Weygandt, and Warfield.
“Reforming stock options in the Post-Enron, Post-WorldCom Era,” Rosen, Corey; July 00. www.nceo.org/library/reforming stock options; November 5, 00.
“Deducting the Options Expense Much Ado About Nothing,” Strategic Finance, October 00; Deshmukh, Howe, and Luft. InfoTrac Web General Business File; November 4, 00.
4 “National Business Panel Supports Expensing Stock Options,” Knight-Ridder/Tribune Business News; September 18, 00. ETSU Library Online Article Search, InfoTrac Web Info Trac OneFile; November 4, 00.
5 “Stock Options and Related Matters,” Remarks by Chairman Alan Greenspan; May , 00. www.federalreserve.gov/BoardDocs/Speeches/00; November 1, 00.
6 “How stock options affect Corporate Profits,“ Bartlett, Bruce; September 8, 1. www.ncpa.org; November 5, 00.
7 “Expensing those Expensive Options,” What you need to know about stocks. www.stocks.about.com/library/weekly; November 5, 00.
8 “Expensing Stock Options Is a Faddish Fraud,” Alan Reynolds; July 18, 00. www.creators.com; November 1, 00.
“The Value Proposition,” CFO, The Magazine for Senior Financial Executives, October 00; Tim Reason. InfoTrac Web General Business File.
10 “The Stock Options Controversy And The New Economy,” James V. DeLong; June, 00. www.cei.org; November 1, 00.
Mind that the sample papers like Accounting in the new Market presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Rules in wearing Kimono.
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Rules For Women In Wearing Kimonos
In Japan today, most people wear Western clothes in their everyday life, but the traditional Japanese clothing �kimono- is still popular. Kimono is a complex costume. This complication is shown in the rules in the standard dressing formula. There are a lot of rules about wearing a kimono, from choosing a suitable kimono and wearing a kimono to acting and walking while wearing it.
The most complicated thing in wearing a kimono is how to choose a suitable one because there are a lot of rules about what types and color of clothing people wear on various occasions as well as who can wear it and when. The kimono reflects a time past when social codes concerning status were important. Women must choose the right color and design according to her age and marital status. There is a clear distinction in color, design and the sleeve-length between married women and unmarried women’s kimono. For example, only unmarried [usually younger] women wear kimono with long, flowing sleeves [Furisode kimono]. In other words, those who once got married are not supposed to wear long-sleeve kimono in front of public. Younger women can wear brighter colors and the wide waist sash, or “obi,” which can be tied in a more showy way. The thin tie that holds the wide sash in place is tied in different ways, depending on whether the occasion is happy or sad. Married women should wear a shorter sleeved kimono and more conservative colors and designs [Tomesode kimono] (Occasions For Wearing Kimonos). Also, the distinction between formal and informal situation is taken seriously. In All-Japan The Catalogue Of Everything Japan, Liza Crihfield explained
At its most informal, a kimono is a cotton yukata � literally a bathrobe. Otherwise, when the occasion calls for a kimono, it will most likely be the most formal version a special silk kimono marked by heraldic crests and worn at weddings, funerals, and other times of high ceremony. (8)
For unmarried women, “the most formal kimono for festival occasions is in various colors. It has an overall design that runs diagonally from the shoulder down to the hem,” long sleeve. For married women, the most formal kimono is the “tomosode of black silk crepe with the family crest in 5 spots, has design only on the hem” (Kamachi 1-14). A key distinguishing feature of tomesode (both black and other colors) is that only the fabric on the bottom half of the kimono is decorated with a pattern. Women also often wear a “black susomoyo kimono with crest over a magajuban, with a white habutae collar while pre-married girls and brides wear the furisode.” “Haori is never worn by women on formal occasions. For informal wear, colored susomoyo is worn.” (Mombusho 05) As they get older, their kimono designs become less distinct and the colors deeper and richer while the obi is worn lower and made narrower. Obi colors, like the kimono, depend on the age of the wearer.
In addition, there are certain rules for colors of kimonos one should use that are defined by the season. Japanese people are keenly aware of four seasons, and the clothes they wear are always in keeping with the season. For example, in springtime, young woman would wear kimono which color is combination of light red and pink, suggesting color of sakura, the cherry blossom. In summer, blue, the color of water would be better. Autumn calls for colors that imitate the hues of the turning leaves, and winter is the season for strong colors like black and red. Therefore, hito hitoe, a single layered, unlined kimono, is worn during summer from June1 through September 0, and the winter kimono, awase, is from October 1 through May 1 (Dalby Kimono 08-1) Explaining Japanese’s habit of changing their kimonos to fit the season, Norio Yamanaka writes
From this [“wrapping” phenomenon 1 layers of kimono] arose a unique and deep appreciation of colors and their combinations, for great care was taken in matching and harmonizing the colors of the kimono […] Choosing colors to mirror the seasons and their moods is a reflection of how Japanese became finely attuned to even the slightest change in seasons and learned to appreciate the beauty of things in nature (8).
Japanese is not only sensitive about proper clothing reflecting the changes of season but also sensitive about accessories that go with the kimono. Western accessories are not appropriate to wear with the kimono such as piercing, necklaces and bracelets. Ring and wristwatch are worn occasionally. Unless you have had a kimono put on you, or lived in Japan for any length of time, you would probably be quite surprised just how complicated it can be. It isnt something you can just slip into. In fact, there may be 18 different articles or accessories, which are needed as a minimum. According to Norio Yamanaka, wearing a kimono requires tabi (split-toed socks), hadajuban (undershirt), susoyoke (half- slip), towels or body pads, nagajuban (full-length under-kimono), han eri (half-colar), eri shin (half-colar lining), chikara nuno (collar adjustment), date-jime or date-maki (waistband or under-sash), koshi himo (sash), kimono belt, obi, kari himo (temporary cord), obi ita (obi stay), obi makura (obi pad), obi-age (bustle sash), obi-jime (obi cord), zori (sandals) (7). Thus, putting on the kimono is not easy and must be in order. The kimono must be “fitted on the body with all the seams straight, and the length is adjusted by tucking in the excess material under the sash. One absolutely important rule is to pull tight the right side of the front first and then the left side over it” (Clothing). It requires 0 steps in putting on a woman’s kimono and practice is needed to do it properly.
Even though a special technique is required to wear a kimono, the style and refined beauty of the kimono derives more from the atmosphere created by the manner in which the kimono is worn than from the beauty of the cloth. A kimono is said to be beautiful only when the wearers spirit and character is “a thing of beauty.” “Wearing a kimono is not simply a matter of putting it on, for it is the wearer who makes the kimono elegant or tasteless.” (Yamanaka 16)
Posture is of great importance. It should be natural, with the back straight, the chin pulled in slightly and the shoulders relaxed. Sudden and large movements should be avoided, since they will expose the arms and, especially, the legs, and allowing even the briefest glimpse of the legs is considered quite bad taste (Yamanaka 16).
In walking, taking steps needs to be small and slower than when wearing western style clothes. This is quite restrictive always keep your back straight and keep your balance even when bowing, sitting, eating, drinking or just getting into a car. Therefore, Japanese women have a different way to get into a car. Norio describes “Place hand on the back of the front car seat and sit on the edge of the seat. Ease one foot and then the other into the car. Bring your feet in front of you, knees and feet together.” (17) Some people say the kimono looks nice but when they put it on themselves, it is too tight and they can hardly drink or eat anything. To wear a kimono elegantly and perfectly, no chocking as well as no uncomfortableness are the keys. The standard manners are also required while wearing kimono. For example, when eating and drinking, a woman avoids reaching things with both hands and always uses her free hand to keep the other sleeve from dragging. When drinking, she needs to use her right hand to place the cup or glass on her left palm and to keep it steady when not actually drinking. (17)
In spite of its complicated rules, wearing a kimono, indeed, is a traditional art. It requires training and experience to put on a kimono comfortably and attractively, it also requires training in walking and moving gracefully when wearing. The kimono must be fitted on the body with all the seams straight, and the length is adjusted by tucking in the excess material under the sash. The extract form of a woman’s kimono outfit is determined by her age, the season and the level of formality of the occasion. The choice of colors, designs and material cannot be made randomly but it is governed by a precise code of social appropriateness. These complicated rules coupled with the great expense involved contribute to the feeling of many Japanese women that kimono are completely impractical for modern life.
Mind that the sample papers like Rules in wearing Kimono. presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Rules For Women In Wearing Kimonos
In Japan today, most people wear Western clothes in their everyday life, but the traditional Japanese clothing �kimono- is still popular. Kimono is a complex costume. This complication is shown in the rules in the standard dressing formula. There are a lot of rules about wearing a kimono, from choosing a suitable kimono and wearing a kimono to acting and walking while wearing it.
The most complicated thing in wearing a kimono is how to choose a suitable one because there are a lot of rules about what types and color of clothing people wear on various occasions as well as who can wear it and when. The kimono reflects a time past when social codes concerning status were important. Women must choose the right color and design according to her age and marital status. There is a clear distinction in color, design and the sleeve-length between married women and unmarried women’s kimono. For example, only unmarried [usually younger] women wear kimono with long, flowing sleeves [Furisode kimono]. In other words, those who once got married are not supposed to wear long-sleeve kimono in front of public. Younger women can wear brighter colors and the wide waist sash, or “obi,” which can be tied in a more showy way. The thin tie that holds the wide sash in place is tied in different ways, depending on whether the occasion is happy or sad. Married women should wear a shorter sleeved kimono and more conservative colors and designs [Tomesode kimono] (Occasions For Wearing Kimonos). Also, the distinction between formal and informal situation is taken seriously. In All-Japan The Catalogue Of Everything Japan, Liza Crihfield explained
At its most informal, a kimono is a cotton yukata � literally a bathrobe. Otherwise, when the occasion calls for a kimono, it will most likely be the most formal version a special silk kimono marked by heraldic crests and worn at weddings, funerals, and other times of high ceremony. (8)
For unmarried women, “the most formal kimono for festival occasions is in various colors. It has an overall design that runs diagonally from the shoulder down to the hem,” long sleeve. For married women, the most formal kimono is the “tomosode of black silk crepe with the family crest in 5 spots, has design only on the hem” (Kamachi 1-14). A key distinguishing feature of tomesode (both black and other colors) is that only the fabric on the bottom half of the kimono is decorated with a pattern. Women also often wear a “black susomoyo kimono with crest over a magajuban, with a white habutae collar while pre-married girls and brides wear the furisode.” “Haori is never worn by women on formal occasions. For informal wear, colored susomoyo is worn.” (Mombusho 05) As they get older, their kimono designs become less distinct and the colors deeper and richer while the obi is worn lower and made narrower. Obi colors, like the kimono, depend on the age of the wearer.
In addition, there are certain rules for colors of kimonos one should use that are defined by the season. Japanese people are keenly aware of four seasons, and the clothes they wear are always in keeping with the season. For example, in springtime, young woman would wear kimono which color is combination of light red and pink, suggesting color of sakura, the cherry blossom. In summer, blue, the color of water would be better. Autumn calls for colors that imitate the hues of the turning leaves, and winter is the season for strong colors like black and red. Therefore, hito hitoe, a single layered, unlined kimono, is worn during summer from June1 through September 0, and the winter kimono, awase, is from October 1 through May 1 (Dalby Kimono 08-1) Explaining Japanese’s habit of changing their kimonos to fit the season, Norio Yamanaka writes
From this [“wrapping” phenomenon 1 layers of kimono] arose a unique and deep appreciation of colors and their combinations, for great care was taken in matching and harmonizing the colors of the kimono […] Choosing colors to mirror the seasons and their moods is a reflection of how Japanese became finely attuned to even the slightest change in seasons and learned to appreciate the beauty of things in nature (8).
Japanese is not only sensitive about proper clothing reflecting the changes of season but also sensitive about accessories that go with the kimono. Western accessories are not appropriate to wear with the kimono such as piercing, necklaces and bracelets. Ring and wristwatch are worn occasionally. Unless you have had a kimono put on you, or lived in Japan for any length of time, you would probably be quite surprised just how complicated it can be. It isnt something you can just slip into. In fact, there may be 18 different articles or accessories, which are needed as a minimum. According to Norio Yamanaka, wearing a kimono requires tabi (split-toed socks), hadajuban (undershirt), susoyoke (half- slip), towels or body pads, nagajuban (full-length under-kimono), han eri (half-colar), eri shin (half-colar lining), chikara nuno (collar adjustment), date-jime or date-maki (waistband or under-sash), koshi himo (sash), kimono belt, obi, kari himo (temporary cord), obi ita (obi stay), obi makura (obi pad), obi-age (bustle sash), obi-jime (obi cord), zori (sandals) (7). Thus, putting on the kimono is not easy and must be in order. The kimono must be “fitted on the body with all the seams straight, and the length is adjusted by tucking in the excess material under the sash. One absolutely important rule is to pull tight the right side of the front first and then the left side over it” (Clothing). It requires 0 steps in putting on a woman’s kimono and practice is needed to do it properly.
Even though a special technique is required to wear a kimono, the style and refined beauty of the kimono derives more from the atmosphere created by the manner in which the kimono is worn than from the beauty of the cloth. A kimono is said to be beautiful only when the wearers spirit and character is “a thing of beauty.” “Wearing a kimono is not simply a matter of putting it on, for it is the wearer who makes the kimono elegant or tasteless.” (Yamanaka 16)
Posture is of great importance. It should be natural, with the back straight, the chin pulled in slightly and the shoulders relaxed. Sudden and large movements should be avoided, since they will expose the arms and, especially, the legs, and allowing even the briefest glimpse of the legs is considered quite bad taste (Yamanaka 16).
In walking, taking steps needs to be small and slower than when wearing western style clothes. This is quite restrictive always keep your back straight and keep your balance even when bowing, sitting, eating, drinking or just getting into a car. Therefore, Japanese women have a different way to get into a car. Norio describes “Place hand on the back of the front car seat and sit on the edge of the seat. Ease one foot and then the other into the car. Bring your feet in front of you, knees and feet together.” (17) Some people say the kimono looks nice but when they put it on themselves, it is too tight and they can hardly drink or eat anything. To wear a kimono elegantly and perfectly, no chocking as well as no uncomfortableness are the keys. The standard manners are also required while wearing kimono. For example, when eating and drinking, a woman avoids reaching things with both hands and always uses her free hand to keep the other sleeve from dragging. When drinking, she needs to use her right hand to place the cup or glass on her left palm and to keep it steady when not actually drinking. (17)
In spite of its complicated rules, wearing a kimono, indeed, is a traditional art. It requires training and experience to put on a kimono comfortably and attractively, it also requires training in walking and moving gracefully when wearing. The kimono must be fitted on the body with all the seams straight, and the length is adjusted by tucking in the excess material under the sash. The extract form of a woman’s kimono outfit is determined by her age, the season and the level of formality of the occasion. The choice of colors, designs and material cannot be made randomly but it is governed by a precise code of social appropriateness. These complicated rules coupled with the great expense involved contribute to the feeling of many Japanese women that kimono are completely impractical for modern life.
Mind that the sample papers like Rules in wearing Kimono. presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Saturday, 5 May 2012
Inflation and Unemployment
We are ready to represent the best custom paper writing assistance that can cope with any task like Inflation and Unemployment even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Inflation and Unemployment in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
Inflation and Unemployment
In the following paper, we are going to assess inflation and unemployment with the Internet article, People Prefer Inflation to Prospect of Job Loss. Justin Wolfers, an assistant professor of political economy at the Stanford Graduate School of Business, is the author of this article. In this analysis of the article, we are going to provide definitions of inflation and unemployment. Then, we are going to consider the economic impact of the main points in the article on the economy and society’s feelings toward unemployment.
In order to provide a clear understanding of our article, we are going to define the terms inflation and unemployment. According to David Colander, inflation is “a continual rise in the price level” (Macroeconomics, p. 148). This reflects how much the prices in an economy have risen over time. The increase of prices of goods over time is the price index; therefore, the price index is a measurement of time compared to the yearly measurement of inflation. To calculate inflation, we are using the price index for a year’s time. Currently, economists are using the year of 184 as a base, and inflation represents this increment over a period. The next term we are defining is unemployment. According to the William King on-line dictionary, unemployment refers to the condition of being with out a job or to the proportion of people who can and will work but are unemployed (William King, 00).
With the definitions of inflation and unemployment, we are now going to assess the economic impact of the main points in the article on the economy and society’s feelings toward unemployment. The economic impact of unemployment is the possibility of recession. According to Justin Wolfers, “Recessions really hurt, and the governments and their central banks need to be aware of the importance of avoiding them” (pg. 1, 00). When unemployment rates are at its highest rate since August 14, the results are alarming to the economy. In the U.S. economy, there is a total work force of 145,801,000, and there are 16,78,000 people currently employed. This means that there is an unemployment rate of 6.% (Labor Force Data, 00). This unemployment rate affects not only the unemployed people, but also employed people. The employed people start to feel as though they can loose their job at anytime. With this job uncertainty people feel, people would rather save money than spend money, which creates financial insecurity that has a negative effect on the economy.
Now that we have determined the effects on the economy, we need to consider the effects on people’s sense of satisfaction. Justin Wolfers has done research on how the effects of inflation and unemployment affect people’s satisfaction. Justin Wolfers gathered data on life satisfaction compared to the rates of inflation and unemployment from different European countries and the Unites States from 17 through 18. This research shows us that people feel more stress when they cannot find a job than when prices are rising. From the information contained in the survey, the research shows that rising joblessness is roughly five times more troubling to people than rising prices. High unemployment rate in a region, according to Wolfers, “lowers average feelings of usefulness, confidence, and happiness and raises depression and feelings of worthlessness”(pg. 1, 00). People also feel a loss of faith in the government, corporate sectors, and banking sectors, which can lead to a recession (Wolfers, 00).
In conclusion, we have assessed inflation and unemployment with the Internet article, People Prefer Inflation to Prospect of Job Loss by Justin Wolfers. We provided definitions of inflation and unemployment to help explain the content of the article. Inflation is a continual rise in the price level, which took the price index’s measurement of time over a year to calculate inflation. Finally, we considered the economic impact of the main points in the article on the economy and society’s feeling toward unemployment. The financial insecurity has had a negative effect on the economy because of job uncertainties. Since people were saving their money, the prices did not increase keeping inflation from increasing. The research showed that people felt more stressed when they could not find a job than when prices were rising. People felt a felt less useful, confidence, and happiness and there was a raise in depression and feelings of worthlessness.
Mind that the sample papers like Inflation and Unemployment presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Inflation and Unemployment
In the following paper, we are going to assess inflation and unemployment with the Internet article, People Prefer Inflation to Prospect of Job Loss. Justin Wolfers, an assistant professor of political economy at the Stanford Graduate School of Business, is the author of this article. In this analysis of the article, we are going to provide definitions of inflation and unemployment. Then, we are going to consider the economic impact of the main points in the article on the economy and society’s feelings toward unemployment.
In order to provide a clear understanding of our article, we are going to define the terms inflation and unemployment. According to David Colander, inflation is “a continual rise in the price level” (Macroeconomics, p. 148). This reflects how much the prices in an economy have risen over time. The increase of prices of goods over time is the price index; therefore, the price index is a measurement of time compared to the yearly measurement of inflation. To calculate inflation, we are using the price index for a year’s time. Currently, economists are using the year of 184 as a base, and inflation represents this increment over a period. The next term we are defining is unemployment. According to the William King on-line dictionary, unemployment refers to the condition of being with out a job or to the proportion of people who can and will work but are unemployed (William King, 00).
With the definitions of inflation and unemployment, we are now going to assess the economic impact of the main points in the article on the economy and society’s feelings toward unemployment. The economic impact of unemployment is the possibility of recession. According to Justin Wolfers, “Recessions really hurt, and the governments and their central banks need to be aware of the importance of avoiding them” (pg. 1, 00). When unemployment rates are at its highest rate since August 14, the results are alarming to the economy. In the U.S. economy, there is a total work force of 145,801,000, and there are 16,78,000 people currently employed. This means that there is an unemployment rate of 6.% (Labor Force Data, 00). This unemployment rate affects not only the unemployed people, but also employed people. The employed people start to feel as though they can loose their job at anytime. With this job uncertainty people feel, people would rather save money than spend money, which creates financial insecurity that has a negative effect on the economy.
Now that we have determined the effects on the economy, we need to consider the effects on people’s sense of satisfaction. Justin Wolfers has done research on how the effects of inflation and unemployment affect people’s satisfaction. Justin Wolfers gathered data on life satisfaction compared to the rates of inflation and unemployment from different European countries and the Unites States from 17 through 18. This research shows us that people feel more stress when they cannot find a job than when prices are rising. From the information contained in the survey, the research shows that rising joblessness is roughly five times more troubling to people than rising prices. High unemployment rate in a region, according to Wolfers, “lowers average feelings of usefulness, confidence, and happiness and raises depression and feelings of worthlessness”(pg. 1, 00). People also feel a loss of faith in the government, corporate sectors, and banking sectors, which can lead to a recession (Wolfers, 00).
In conclusion, we have assessed inflation and unemployment with the Internet article, People Prefer Inflation to Prospect of Job Loss by Justin Wolfers. We provided definitions of inflation and unemployment to help explain the content of the article. Inflation is a continual rise in the price level, which took the price index’s measurement of time over a year to calculate inflation. Finally, we considered the economic impact of the main points in the article on the economy and society’s feeling toward unemployment. The financial insecurity has had a negative effect on the economy because of job uncertainties. Since people were saving their money, the prices did not increase keeping inflation from increasing. The research showed that people felt more stressed when they could not find a job than when prices were rising. People felt a felt less useful, confidence, and happiness and there was a raise in depression and feelings of worthlessness.
Mind that the sample papers like Inflation and Unemployment presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Analysis of Richard Pipes'" Why did Stalin succeed Lenin"
We are ready to represent the best custom paper writing assistance that can cope with any task like Analysis of Richard Pipes'" Why did Stalin succeed Lenin" even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Analysis of Richard Pipes'" Why did Stalin succeed Lenin" in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
“It is my view that once the Soviet regime was in place and Lenin pursued his visionary program without regard to the almost universal opposition it aroused…the apparatus which he had created naturally rallied around Stalin, the most competent and popular Communist politician” (Pipes, 6) It seems that Richard Pipes begins his analysis on why Stalin came to power by pointing out that it was probably Lenin who paved the way for Stalin. Consequently, throughout Pipe’s analysis, he portrays the fact that Stalin succeeded Lenin firstly, because of the failure of the Bolsheviks in 11-0 to export the revolution to the industrial west, secondly, because the immense responsibilities of administering every aspect of Soviet life, thirdly because of the rise of an opposition to being ruled by intellectuals among workers, which made up most of the Communist Party, and lastly because of personal reasons. Pipes supports his first argument by reiterating his statement that the Bolsheviks took power by chance. He validates this by explaining that it was easy for this to happen because everything that was going on in Russia, which made it an easy target. Although they would have much rather taken over “better” countries such as England or Germany it was futile, they could not carry out a revolution. Pipes states “…they had to export revolution to the industrial West…” (Pipes, 65) Lenin’s failure in other countries � as Pipes points out, made it clear that there would be no October 117 anywhere else. (7) This gave birth to the slogan “socialism in one country”, it was consequently another stepping stone for Stalin’s rise to power. Through these affairs, Lenin became more and more trusting of Stalin. Perhaps this was not directly the cause for Stalin’s rise to power, but Pipes seems to insinuate that it was a catalyst. However, the failure to bring revolutions to other countries in Western Europe called for an enduring state and a “professional bureaucracy to administer it”. (74) Lenin’s links could not take on this sort of task, this was Stalin’s chance. Pipes believes that the fact that Stalin was talented and skilled in administrative powers, was crucial to his rise in power. This is valid, since in order to clasp such power like running a country a leader should be knowledgeable of the internal workings as well as the outside manipulations of the state. Knowing this, Stalin took advantage and realized that he could have loyal followers by enticing them with material rewards. By the time Lenin had learned of these developments, Stalin was well on his way to the top. The purges only made him feared but not necessarily more powerful, the truth is, he was actually losing power. The third factor that directed Stalin to power, according to Pipes, was the resistance to the communist system within the proletariat. The rising opposition within the Party, preoccupied Lenin, he decided to outlaw all organized dissent within the party and put Stalin in charge. Ironically, Stalin did not monitor opposition to the party but opposition to himself, later known as “factionalism”. Slowly, over time this allowed Stalin to install people loyal to him in the party’s ranks, creating a party for himself and less of Lenin’s. The personality factor was also in favor of Stalin. It was only until Lenin was close to death, that he realized that Stalin was becoming too swaggering � and it was already too late. Lenin was always close to Lenin and posted him among the highest ranks, on the other hand, Trotsky was never truly favored by Lenin. Trotsky was regarded as having a “gruff and arrogant” nature, and to top it all of he was Jewish. Obviously, Stalin did not have much to compete against.
Pipes confirms all of his premises as to why Stalin rose to power thoroughly. Many a time he inputs his opinions on why specific politicians took certain actions yet, supplies historical evidence accordingly. He’s three main points are plausible since, Stalin did in fact work closely with Lenin, used his skills to and talents of administration to his advantage, and most importantly new how to manipulate people through the power that Lenin gave him. Because Trotsky did not prove to be any competition to Stalin, this facilitated his emergence into power.
Richard Pipes The Three Whys of the Russian Revolution
Mind that the sample papers like Analysis of Richard Pipes'" Why did Stalin succeed Lenin" presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
“It is my view that once the Soviet regime was in place and Lenin pursued his visionary program without regard to the almost universal opposition it aroused…the apparatus which he had created naturally rallied around Stalin, the most competent and popular Communist politician” (Pipes, 6) It seems that Richard Pipes begins his analysis on why Stalin came to power by pointing out that it was probably Lenin who paved the way for Stalin. Consequently, throughout Pipe’s analysis, he portrays the fact that Stalin succeeded Lenin firstly, because of the failure of the Bolsheviks in 11-0 to export the revolution to the industrial west, secondly, because the immense responsibilities of administering every aspect of Soviet life, thirdly because of the rise of an opposition to being ruled by intellectuals among workers, which made up most of the Communist Party, and lastly because of personal reasons. Pipes supports his first argument by reiterating his statement that the Bolsheviks took power by chance. He validates this by explaining that it was easy for this to happen because everything that was going on in Russia, which made it an easy target. Although they would have much rather taken over “better” countries such as England or Germany it was futile, they could not carry out a revolution. Pipes states “…they had to export revolution to the industrial West…” (Pipes, 65) Lenin’s failure in other countries � as Pipes points out, made it clear that there would be no October 117 anywhere else. (7) This gave birth to the slogan “socialism in one country”, it was consequently another stepping stone for Stalin’s rise to power. Through these affairs, Lenin became more and more trusting of Stalin. Perhaps this was not directly the cause for Stalin’s rise to power, but Pipes seems to insinuate that it was a catalyst. However, the failure to bring revolutions to other countries in Western Europe called for an enduring state and a “professional bureaucracy to administer it”. (74) Lenin’s links could not take on this sort of task, this was Stalin’s chance. Pipes believes that the fact that Stalin was talented and skilled in administrative powers, was crucial to his rise in power. This is valid, since in order to clasp such power like running a country a leader should be knowledgeable of the internal workings as well as the outside manipulations of the state. Knowing this, Stalin took advantage and realized that he could have loyal followers by enticing them with material rewards. By the time Lenin had learned of these developments, Stalin was well on his way to the top. The purges only made him feared but not necessarily more powerful, the truth is, he was actually losing power. The third factor that directed Stalin to power, according to Pipes, was the resistance to the communist system within the proletariat. The rising opposition within the Party, preoccupied Lenin, he decided to outlaw all organized dissent within the party and put Stalin in charge. Ironically, Stalin did not monitor opposition to the party but opposition to himself, later known as “factionalism”. Slowly, over time this allowed Stalin to install people loyal to him in the party’s ranks, creating a party for himself and less of Lenin’s. The personality factor was also in favor of Stalin. It was only until Lenin was close to death, that he realized that Stalin was becoming too swaggering � and it was already too late. Lenin was always close to Lenin and posted him among the highest ranks, on the other hand, Trotsky was never truly favored by Lenin. Trotsky was regarded as having a “gruff and arrogant” nature, and to top it all of he was Jewish. Obviously, Stalin did not have much to compete against.
Pipes confirms all of his premises as to why Stalin rose to power thoroughly. Many a time he inputs his opinions on why specific politicians took certain actions yet, supplies historical evidence accordingly. He’s three main points are plausible since, Stalin did in fact work closely with Lenin, used his skills to and talents of administration to his advantage, and most importantly new how to manipulate people through the power that Lenin gave him. Because Trotsky did not prove to be any competition to Stalin, this facilitated his emergence into power.
Richard Pipes The Three Whys of the Russian Revolution
Mind that the sample papers like Analysis of Richard Pipes'" Why did Stalin succeed Lenin" presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Friday, 4 May 2012
Eastman Kodak Company¡GFuntime Film
We are ready to represent the best custom paper writing assistance that can cope with any task like Eastman Kodak Company¡GFuntime Film even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Eastman Kodak Company¡GFuntime Film in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
Situation Analysis
Although continuing its overwhelming domination of the photo film market, Kodak has suffered 6% of declines in film market share. This mainly resulted form fierce competition by Fuji Photo Film Co. and Konica Corp., selling consumer lower-priced films. Furthermore, since Kodak could not sell film on a private label basis, consumer is the only target to regain the revenue. Therefore, Kodak proposed to introduce a brand, Funtime, to fight with Fuji and Konica in economy class of film. With the introduction of Funtime, Kodak formed a -tiered product line, that is, Royal Gold, Gold plus, and Funtime.
III. The U.S. Photo Film Market Analysis
In a five years¡¦ observation, the photo film market¡¦s annual unit growth rate averaged only %. Obviously, it¡¦s been at matured stage of product life cycle, meaning the most possible way to win market share is to switch competitors¡¦ customers. That also forced Kodak to pay more attention to the price-sensitive consumer and launch Funtime in order not to be absent in economy photo film battle. However, to introduce a new product in the almost saturated market may cause cannibalization so that some patrons of Kodak Gold plus switch to Funtime.
IV. Segmentation
Before 14, the product line of Kodak photo film is Ektar, targeting serious amateurs and professionals, and Gold plus, targeting families. Ektar is using behavior segmentation to serve those experienced amateurs, and Gold plus is using demographic segmentation and emphasizing on the family life cycle, which has been the main theme of Kodak communication strategy. However, a useful segmentation should be the largest possible homogeneous group worth going after with a tailored marketing program. A segmentation like Ektar¡¦s might be too small to create a sustainable competitive advantage. Therefore, it is very smart for Kodak to replace Ektar with a broader positioned superpremium brand, Royal Gold. Because Royal Gold is positioned for ¡§very special occasions¡¨, it enlarges the possible homogeneous group of consumers. Its targeting market is far larger than Ektar¡¦s, although they both use behavioral segmentation. Furthermore, another behavioral segmentation variables, benefits, is chosen by Kodak. According to Consumer reports, November 1, most films is no better or no worse than their competitors of the same speed. When quality is impossible to be improved significantly, price and brand image is especially important for consumers. Therefore, Kodak have to launch Funtime to feed the growing body of price-sensitive consumers and to compete with Fujicolor Super G and Agfacolor XRG in economy brands. I think the product line composed of Royal Gold, Gold plus, and Funtime is better than it was because it bases a substantial, accessible, and differentiable segmentation.
V. Consumer Behavior Analysis
Photo film is typically a low-involvement category, and Kodak has been trying to manipulate consumer¡¦s decision by associating Kodak¡¦s products with affective attitude. For example, we are all familiar with its tagline, ¡§Share moments. Share life¡¨. Kodak has always advertised heavily, and spent a lot of money every year. Kodak uses family and emotional appeals to communicate with consumers to build a solid brand image in their minds. And Kodak also sponsored ¡§American Phtography-A century of images¡¨ and ¡§The Journey The Next 100 Years¡¨ projects to educate and remind people the important roles of photographs in our life; it implies how important Kodak is as well. This is a form of classical conditioning.
Although the fierce competition of film has threatened Kodak somehow, it could be in favor of Kodak. When purchasing a low-involvement product, consumers tend to choose the most familiar brand. So Kodak¡¦s strong brand equity is its major strength, and this is what all the advertising budgets paid for. Those TV commercials, promotions, and campaigns are to push Kodak to become one of evoke set with top-of-mind-awareness.
VI. New Product Introduction¡GThe Funtime Strategy
I have few concerns about the marketing strategy of Funtime film.
First, Fumtime is an intelligent idea but also a risky one because we can not know how consumer would react to the offering economy brand of Kodak. In consumer¡¦s reception, quality and price is always a trade-off. When Kodak introduced Funtime, consumer might doubt its quality and harm the brand equity of Kodak. I can¡¦t tell if Kodak did some marketing research or test before this decision, but I think it would be an necessary action.
Second, Kodak allocated zero advertising support to Funtime. Generally, introducing a new product would need more budget to create awareness, to run campaigns, and to encourage first trial. Then it would lead to repurchase. Lack of advertising effort would result in low awareness and lengthen the learning curve of consumers.
Third, when Funtime was introduced, Kodak made a strange decision to offer Funtime only twice a year at off-peak film use times. From a view of consumer product, a continuous space presence is very important. Usually we are expecting the product presences exactly the same shelf space with that in our memory. When a consumer walks in a department store shopping for photo films, and there is no Funtime available, what will he or she do? Pick another brand of film! Since the consumer is price-sensitive, he or she may not be brand-royal. So it is very likely he or she walks out with competitor¡¦s products.
People buy photo films usually is for some occasions or events, such as birthday party or vacation. When there is the need, it has to be satisfied very soon. Photo film is more like convenient goods than shopping goods. However, Kodak decide to sell Funtime only when the need of films is low. This might lead to many Funtime in stock.
From logistic point of view, I also doubt if Kodak has the power to force the retailers to rearrange the shelf display every - months for a low-priced product like Funtime. Furthermore, it is unknown that whether the retailer will follow Kodak¡¦s rule to sell Funtime at particular seasons.
Finally, Funtime is only sold in ¡§value packs¡¨. Kodak probably was trying to match the finding of Wolfman report. The report stated that the majority of the films are purchased in ¡§multipacks¡¨ which contained approximately - rolls of film per package. Nevertheless, due to lack of awareness, consumer may receive higher risk of buying a Funtime value pack.
Though stating several disagreement with Funtime strategy, I agree with one of its strategy. I agree to offer Funtime film only in the two lowest speeds. To those price shopper, we are able to assume that they are not experienced photographers. If Kodak offer all speeds of Funtime film, it is highly possible to confuse the consumer and arouse many trouble while their decision making process. For the low-involvement product, we just have to provide simple and quick solution to our customers.
VII. Alternatives for Kodak Funtime Film
1. In order to make continuous presence and availability of Funtime, I suggest that Funtime be sold year round. Since Kodak recognized a segment of price-sensitive consumer, it has to propose a marketing program to offer the benefits which the target cares most. Kodak should offer Funtime film year round and keep the line on price. To maintain stable availability makes repeat purchase easier. Another aggressive way to encourage repeat purchase is to insert certain coupon in the package. Therefore, the list price of Funtime film could be still higher than competitors to maintain the brand image as superiority, but customers can get the benefits as a good deal.
. When introducing a new product, it is important to lower the risk of trial. So I suggest Kodak to launch single pack of Funtime in the initial stage of this product.
. Maybe Kodak could introduce Funtime in some region or in several state at the first place. To see what the consumer receive and how they response to the new product would give Kodak much valuable information to decide the launching plan of Funtime film, and to avoid making mistakes.
4. I suggest allocating advertising budget for Funtime film. The budget should be much less than Royal Gold and Gold plus because we don¡¦t want to jeopardize the quality, premium image of Kodak. We have to use commercials to educate consumers that Funtime film is a good choice because it inherits Kodak¡¦s quality and with an attractive price.
5. Kodak was successful to recognize the growing trend of price shoppers. It would be better if Kodak could know the segment better. For example, the demographic of the segment would give Kodak a clear picture to maket Funtime film. Those price-sensitive consumers may be the high school students or college students. Kodak can run special events in summer vacation to interest them. Or they might be blue-collar status with certain level of income. There are so many ways to reach the segment closer and satisfy their needs deeper.
Mind that the sample papers like Eastman Kodak Company¡GFuntime Film presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Situation Analysis
Although continuing its overwhelming domination of the photo film market, Kodak has suffered 6% of declines in film market share. This mainly resulted form fierce competition by Fuji Photo Film Co. and Konica Corp., selling consumer lower-priced films. Furthermore, since Kodak could not sell film on a private label basis, consumer is the only target to regain the revenue. Therefore, Kodak proposed to introduce a brand, Funtime, to fight with Fuji and Konica in economy class of film. With the introduction of Funtime, Kodak formed a -tiered product line, that is, Royal Gold, Gold plus, and Funtime.
III. The U.S. Photo Film Market Analysis
In a five years¡¦ observation, the photo film market¡¦s annual unit growth rate averaged only %. Obviously, it¡¦s been at matured stage of product life cycle, meaning the most possible way to win market share is to switch competitors¡¦ customers. That also forced Kodak to pay more attention to the price-sensitive consumer and launch Funtime in order not to be absent in economy photo film battle. However, to introduce a new product in the almost saturated market may cause cannibalization so that some patrons of Kodak Gold plus switch to Funtime.
IV. Segmentation
Before 14, the product line of Kodak photo film is Ektar, targeting serious amateurs and professionals, and Gold plus, targeting families. Ektar is using behavior segmentation to serve those experienced amateurs, and Gold plus is using demographic segmentation and emphasizing on the family life cycle, which has been the main theme of Kodak communication strategy. However, a useful segmentation should be the largest possible homogeneous group worth going after with a tailored marketing program. A segmentation like Ektar¡¦s might be too small to create a sustainable competitive advantage. Therefore, it is very smart for Kodak to replace Ektar with a broader positioned superpremium brand, Royal Gold. Because Royal Gold is positioned for ¡§very special occasions¡¨, it enlarges the possible homogeneous group of consumers. Its targeting market is far larger than Ektar¡¦s, although they both use behavioral segmentation. Furthermore, another behavioral segmentation variables, benefits, is chosen by Kodak. According to Consumer reports, November 1, most films is no better or no worse than their competitors of the same speed. When quality is impossible to be improved significantly, price and brand image is especially important for consumers. Therefore, Kodak have to launch Funtime to feed the growing body of price-sensitive consumers and to compete with Fujicolor Super G and Agfacolor XRG in economy brands. I think the product line composed of Royal Gold, Gold plus, and Funtime is better than it was because it bases a substantial, accessible, and differentiable segmentation.
V. Consumer Behavior Analysis
Photo film is typically a low-involvement category, and Kodak has been trying to manipulate consumer¡¦s decision by associating Kodak¡¦s products with affective attitude. For example, we are all familiar with its tagline, ¡§Share moments. Share life¡¨. Kodak has always advertised heavily, and spent a lot of money every year. Kodak uses family and emotional appeals to communicate with consumers to build a solid brand image in their minds. And Kodak also sponsored ¡§American Phtography-A century of images¡¨ and ¡§The Journey The Next 100 Years¡¨ projects to educate and remind people the important roles of photographs in our life; it implies how important Kodak is as well. This is a form of classical conditioning.
Although the fierce competition of film has threatened Kodak somehow, it could be in favor of Kodak. When purchasing a low-involvement product, consumers tend to choose the most familiar brand. So Kodak¡¦s strong brand equity is its major strength, and this is what all the advertising budgets paid for. Those TV commercials, promotions, and campaigns are to push Kodak to become one of evoke set with top-of-mind-awareness.
VI. New Product Introduction¡GThe Funtime Strategy
I have few concerns about the marketing strategy of Funtime film.
First, Fumtime is an intelligent idea but also a risky one because we can not know how consumer would react to the offering economy brand of Kodak. In consumer¡¦s reception, quality and price is always a trade-off. When Kodak introduced Funtime, consumer might doubt its quality and harm the brand equity of Kodak. I can¡¦t tell if Kodak did some marketing research or test before this decision, but I think it would be an necessary action.
Second, Kodak allocated zero advertising support to Funtime. Generally, introducing a new product would need more budget to create awareness, to run campaigns, and to encourage first trial. Then it would lead to repurchase. Lack of advertising effort would result in low awareness and lengthen the learning curve of consumers.
Third, when Funtime was introduced, Kodak made a strange decision to offer Funtime only twice a year at off-peak film use times. From a view of consumer product, a continuous space presence is very important. Usually we are expecting the product presences exactly the same shelf space with that in our memory. When a consumer walks in a department store shopping for photo films, and there is no Funtime available, what will he or she do? Pick another brand of film! Since the consumer is price-sensitive, he or she may not be brand-royal. So it is very likely he or she walks out with competitor¡¦s products.
People buy photo films usually is for some occasions or events, such as birthday party or vacation. When there is the need, it has to be satisfied very soon. Photo film is more like convenient goods than shopping goods. However, Kodak decide to sell Funtime only when the need of films is low. This might lead to many Funtime in stock.
From logistic point of view, I also doubt if Kodak has the power to force the retailers to rearrange the shelf display every - months for a low-priced product like Funtime. Furthermore, it is unknown that whether the retailer will follow Kodak¡¦s rule to sell Funtime at particular seasons.
Finally, Funtime is only sold in ¡§value packs¡¨. Kodak probably was trying to match the finding of Wolfman report. The report stated that the majority of the films are purchased in ¡§multipacks¡¨ which contained approximately - rolls of film per package. Nevertheless, due to lack of awareness, consumer may receive higher risk of buying a Funtime value pack.
Though stating several disagreement with Funtime strategy, I agree with one of its strategy. I agree to offer Funtime film only in the two lowest speeds. To those price shopper, we are able to assume that they are not experienced photographers. If Kodak offer all speeds of Funtime film, it is highly possible to confuse the consumer and arouse many trouble while their decision making process. For the low-involvement product, we just have to provide simple and quick solution to our customers.
VII. Alternatives for Kodak Funtime Film
1. In order to make continuous presence and availability of Funtime, I suggest that Funtime be sold year round. Since Kodak recognized a segment of price-sensitive consumer, it has to propose a marketing program to offer the benefits which the target cares most. Kodak should offer Funtime film year round and keep the line on price. To maintain stable availability makes repeat purchase easier. Another aggressive way to encourage repeat purchase is to insert certain coupon in the package. Therefore, the list price of Funtime film could be still higher than competitors to maintain the brand image as superiority, but customers can get the benefits as a good deal.
. When introducing a new product, it is important to lower the risk of trial. So I suggest Kodak to launch single pack of Funtime in the initial stage of this product.
. Maybe Kodak could introduce Funtime in some region or in several state at the first place. To see what the consumer receive and how they response to the new product would give Kodak much valuable information to decide the launching plan of Funtime film, and to avoid making mistakes.
4. I suggest allocating advertising budget for Funtime film. The budget should be much less than Royal Gold and Gold plus because we don¡¦t want to jeopardize the quality, premium image of Kodak. We have to use commercials to educate consumers that Funtime film is a good choice because it inherits Kodak¡¦s quality and with an attractive price.
5. Kodak was successful to recognize the growing trend of price shoppers. It would be better if Kodak could know the segment better. For example, the demographic of the segment would give Kodak a clear picture to maket Funtime film. Those price-sensitive consumers may be the high school students or college students. Kodak can run special events in summer vacation to interest them. Or they might be blue-collar status with certain level of income. There are so many ways to reach the segment closer and satisfy their needs deeper.
Mind that the sample papers like Eastman Kodak Company¡GFuntime Film presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
leftover crack
We are ready to represent the best custom paper writing assistance that can cope with any task like leftover crack even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like leftover crack in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
ten years ago a crack commando unit was sent to prison by a milatary court for a crime they didnt commit.These men promtily escaped from a maximum secruity stockade to the lower east side.Today still wanted by the government, they survive as soldiers of fortune.Set against the element they go on rocking the world.They shall never give up and will never stop rocking.They are the coolest band ever and im inlove with them all.This essay is about leftover crack they coolest band in 50 billion years,I would have sex with them if i got the chance to,not really but hey they are sexy.I like cheese and beans and weed.The lead singer for Sublime is the greatest guy in life and in death,so is Bob Marley they are both sexy bitches.I am listening to Sublime right now.Invader Zim is the coolest show ever and I would have sex with them to.I would have sex with alot of people.Pepsi vanilla is the greatest soda ever!I like beer and ciggarettes.I like your mom to.I am sexy and you are not.Your just fat and gay,man how did I get from leftover crack to how flaming gay you are and how cool I am,I hope whoever reads this learns alot.I i have a split personallity!Ill show you the number of hairs on my head1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,that is how many hairs are on my head.
Mind that the sample papers like leftover crack presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
ten years ago a crack commando unit was sent to prison by a milatary court for a crime they didnt commit.These men promtily escaped from a maximum secruity stockade to the lower east side.Today still wanted by the government, they survive as soldiers of fortune.Set against the element they go on rocking the world.They shall never give up and will never stop rocking.They are the coolest band ever and im inlove with them all.This essay is about leftover crack they coolest band in 50 billion years,I would have sex with them if i got the chance to,not really but hey they are sexy.I like cheese and beans and weed.The lead singer for Sublime is the greatest guy in life and in death,so is Bob Marley they are both sexy bitches.I am listening to Sublime right now.Invader Zim is the coolest show ever and I would have sex with them to.I would have sex with alot of people.Pepsi vanilla is the greatest soda ever!I like beer and ciggarettes.I like your mom to.I am sexy and you are not.Your just fat and gay,man how did I get from leftover crack to how flaming gay you are and how cool I am,I hope whoever reads this learns alot.I i have a split personallity!Ill show you the number of hairs on my head1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,that is how many hairs are on my head.
Mind that the sample papers like leftover crack presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
how to be a good liar
We are ready to represent the best custom paper writing assistance that can cope with any task like how to be a good liar even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like how to be a good liar in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
How to Become a Successful Liar
Fact people lie about 0 per cent of the time in a social interaction that lasts more than 10 minutes, one study shows. Another expert says people lie five to eight times a day, and 5 per cent of those liars get caught out!
If you don’t want to be the one caught out, follow these rules.
First of all, always maintain eye contact. You know when mothers say ‘I know you’re lying because you’re not looking at me in my eyes.’ Next time you lie to your mother, look at her in the eyes, she asked for it.
Secondly, remember to blink a little when you’re looking at that person. People know that when you blink a lot, you’re telling a fib; and when you don’t blink at all, you’re definitely lying. The person you’re talking to might believe you if you just blink a little.
Try to cry or get very, very angry when you feel the other person doubts you, even the slightest doubt. Break something. Everyone believes someone that mad.
Always swear to God, or even better, a dead relative, like your mum or something. But remember, as this is crucial � cross your fingers while pledging your oath, and apologise to God/Mum/Dad/Grandma afterwards, other wise you’ll get severely punished � nightmares, beware!
Emphasise each word, e.g. ‘I � SWEAR � To � GOD/MUM/DAD/GRANDMA!!’
Don’t include every detail, but plan your lies carefully. When fibbing, pretend to forget what happened. For example, say you purposely tried to avoid this girl/guy and when she/he questions where you’ve been, say something like ‘Oh, I had so much things to do today! I went there and there, and then I went there and there to see so-and-so. Oh, no, sorry! I went THERE first!! Oh it was such a busy day!’ If a normal person was trying to tell a story, he/she will usually forget or make mistakes as they’re trying to remember the events. If you include every unnecessary detail, people will catch on your “load of bull” very quickly.
Always have a friend or two to back you up in the story. Always say ‘Ask so-and-so, if you don’t believe me. Go call him/her now before you say I called them up to lie to you for me.’ Friends will always back you up whether you’re lying or not.
And remember. Always stick to your lie NO MATTER WHAT!
Another important thing is try not to cover your mouth or scratch your nose or ears. When someone is being deceptive, it’s common for blood to rush to the face. Their nose and ears will get itchy, causing them to rub or scratch them unconsciously. By covering your mouth, you are trying to block the truth. Try not to fidget.
Last but not least � never, ever look to the right after you lie. Liars tend to direct their eyes down and to the right after they told their lies. So, just before you finish your bogus stories, remind yourself to look to the left, or just simply shut your eyes. Do not let the listener see you looking to the right. If you can’t help yourself, turn around before it’s too late. But then again, don’t turn around, they will know.
If you want to become one of the 5 per cent of successful liars, use the rules above, they will get you through without fail.
One last note, if you do get caught out, leave the state, or even the country, you will avoid all the humiliation.
Mind that the sample papers like how to be a good liar presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
How to Become a Successful Liar
Fact people lie about 0 per cent of the time in a social interaction that lasts more than 10 minutes, one study shows. Another expert says people lie five to eight times a day, and 5 per cent of those liars get caught out!
If you don’t want to be the one caught out, follow these rules.
First of all, always maintain eye contact. You know when mothers say ‘I know you’re lying because you’re not looking at me in my eyes.’ Next time you lie to your mother, look at her in the eyes, she asked for it.
Secondly, remember to blink a little when you’re looking at that person. People know that when you blink a lot, you’re telling a fib; and when you don’t blink at all, you’re definitely lying. The person you’re talking to might believe you if you just blink a little.
Try to cry or get very, very angry when you feel the other person doubts you, even the slightest doubt. Break something. Everyone believes someone that mad.
Always swear to God, or even better, a dead relative, like your mum or something. But remember, as this is crucial � cross your fingers while pledging your oath, and apologise to God/Mum/Dad/Grandma afterwards, other wise you’ll get severely punished � nightmares, beware!
Emphasise each word, e.g. ‘I � SWEAR � To � GOD/MUM/DAD/GRANDMA!!’
Don’t include every detail, but plan your lies carefully. When fibbing, pretend to forget what happened. For example, say you purposely tried to avoid this girl/guy and when she/he questions where you’ve been, say something like ‘Oh, I had so much things to do today! I went there and there, and then I went there and there to see so-and-so. Oh, no, sorry! I went THERE first!! Oh it was such a busy day!’ If a normal person was trying to tell a story, he/she will usually forget or make mistakes as they’re trying to remember the events. If you include every unnecessary detail, people will catch on your “load of bull” very quickly.
Always have a friend or two to back you up in the story. Always say ‘Ask so-and-so, if you don’t believe me. Go call him/her now before you say I called them up to lie to you for me.’ Friends will always back you up whether you’re lying or not.
And remember. Always stick to your lie NO MATTER WHAT!
Another important thing is try not to cover your mouth or scratch your nose or ears. When someone is being deceptive, it’s common for blood to rush to the face. Their nose and ears will get itchy, causing them to rub or scratch them unconsciously. By covering your mouth, you are trying to block the truth. Try not to fidget.
Last but not least � never, ever look to the right after you lie. Liars tend to direct their eyes down and to the right after they told their lies. So, just before you finish your bogus stories, remind yourself to look to the left, or just simply shut your eyes. Do not let the listener see you looking to the right. If you can’t help yourself, turn around before it’s too late. But then again, don’t turn around, they will know.
If you want to become one of the 5 per cent of successful liars, use the rules above, they will get you through without fail.
One last note, if you do get caught out, leave the state, or even the country, you will avoid all the humiliation.
Mind that the sample papers like how to be a good liar presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Ground Zero
We are ready to represent the best custom paper writing assistance that can cope with any task like Ground Zero even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Ground Zero in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
I was at work speaking with a financial advisor on the phone, when all of a sudden, I hear him yell out “what the hell is going on”. I waited for a minute or two hoping that he would tell me what was wrong but he didn’t. All I could hear on the other side of the phone was him breathing rapidly. I could not help myself, so finally I asked him if he was all right. He finally answered with “a plane hit one of the Twin Towers”; within several minutes all of the televisions around the department had switched to the news channel. Everyone in the department stopped what they were doing and was hypnotized by what they were seeing in the news. After the second plane hit the other Twin Tower I felt that it was a terrorist attack and life was not going to be the same. After the September 11, 001 terrorist attacks, what was once known as the World Trade Center is now called Ground Zero. Where two of the tallest buildings in the world stood is now one big construction site, after the debris and steel have been swept clean. Now, what will we build there?
This topic has evolved within me, due to the amount of media coverage that it has attracted. Everyone wants something different for Ground Zero. It has become a difficult topic and task to figure out. What will they do with 16 acres in lower Manhattan, which is now, considered by many Americans a cemetery. It is not just a construction site it is where hundreds of Americans perished. How should be pay tribute the loss?
There are many competing proposals for new buildings and memorials. Also, there are many viewpoints. “Nobody is going to agree”, said John Whitehead, which was reported in the Ground Zero Sum Game article by Jeff Glasser. This is very true, in regards to Ground Zero; the one thing that everyone agrees on is that nobody is going to agree. Once a plan is in place it is not going to satisfy every American. When I began this project, I looked for sources that would give me a reason to believe what should be done with Ground Zero. I found that there are so many ideas. There are those who believe we should rebuild as it was, there’s others who want to build and have a memorial and then there’s those who just want a monument. I started with the idea that there should be just a memorial without office space. As I started thinking about it more I decided to put myself in the victim’s families’ shoes. I too lost a loved one. My brother died at the age of 5 from diabetes. I was devastated when he passed away. I mourned for a long time but as time passed I was able to slowly forget. I know it might sound cruel to want to forget but that is what I tried to do. I wanted to forget about him because to me that was the only way that I could put him in my past and move on. In doing this project I wondered if the victim’s families dealt with it the same way as I did. I contemplated what effect a memorial would have on the families. Like myself, I am sure that there are families that are trying to put this behind them. Would a memorial help them or make it harder for them to move on with their lives? I believe it will make it harder for them to deal with. As Harriet Barovick wrote in her 60-Second Symposium article, “Those who witnessed the events of Sept. 11 will never forget them, even if they wish to”. I agree with her 100%, not only was there hundreds of lives killed but it was a terrorist attack. This will be in history forever. This is why I do not think it is necessary to have a memorial and they should rebuild as it was.
Mind that the sample papers like Ground Zero presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
I was at work speaking with a financial advisor on the phone, when all of a sudden, I hear him yell out “what the hell is going on”. I waited for a minute or two hoping that he would tell me what was wrong but he didn’t. All I could hear on the other side of the phone was him breathing rapidly. I could not help myself, so finally I asked him if he was all right. He finally answered with “a plane hit one of the Twin Towers”; within several minutes all of the televisions around the department had switched to the news channel. Everyone in the department stopped what they were doing and was hypnotized by what they were seeing in the news. After the second plane hit the other Twin Tower I felt that it was a terrorist attack and life was not going to be the same. After the September 11, 001 terrorist attacks, what was once known as the World Trade Center is now called Ground Zero. Where two of the tallest buildings in the world stood is now one big construction site, after the debris and steel have been swept clean. Now, what will we build there?
This topic has evolved within me, due to the amount of media coverage that it has attracted. Everyone wants something different for Ground Zero. It has become a difficult topic and task to figure out. What will they do with 16 acres in lower Manhattan, which is now, considered by many Americans a cemetery. It is not just a construction site it is where hundreds of Americans perished. How should be pay tribute the loss?
There are many competing proposals for new buildings and memorials. Also, there are many viewpoints. “Nobody is going to agree”, said John Whitehead, which was reported in the Ground Zero Sum Game article by Jeff Glasser. This is very true, in regards to Ground Zero; the one thing that everyone agrees on is that nobody is going to agree. Once a plan is in place it is not going to satisfy every American. When I began this project, I looked for sources that would give me a reason to believe what should be done with Ground Zero. I found that there are so many ideas. There are those who believe we should rebuild as it was, there’s others who want to build and have a memorial and then there’s those who just want a monument. I started with the idea that there should be just a memorial without office space. As I started thinking about it more I decided to put myself in the victim’s families’ shoes. I too lost a loved one. My brother died at the age of 5 from diabetes. I was devastated when he passed away. I mourned for a long time but as time passed I was able to slowly forget. I know it might sound cruel to want to forget but that is what I tried to do. I wanted to forget about him because to me that was the only way that I could put him in my past and move on. In doing this project I wondered if the victim’s families dealt with it the same way as I did. I contemplated what effect a memorial would have on the families. Like myself, I am sure that there are families that are trying to put this behind them. Would a memorial help them or make it harder for them to move on with their lives? I believe it will make it harder for them to deal with. As Harriet Barovick wrote in her 60-Second Symposium article, “Those who witnessed the events of Sept. 11 will never forget them, even if they wish to”. I agree with her 100%, not only was there hundreds of lives killed but it was a terrorist attack. This will be in history forever. This is why I do not think it is necessary to have a memorial and they should rebuild as it was.
Mind that the sample papers like Ground Zero presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Jack Welch and the Ten Commitments of Leadership: A True Human Resource Leader
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Jack Welch and the Ten Commitments of Leadership A True Human Resource Leader
One of the greatest and most effective Human Resource and Business leaders of all time was Jack Welch, CEO of General Electric. Over his 0 years as CEO, he has established himself as the most admired business leader in the world. His initiatives of Six Sigma, globalization, and e-business have defined the modern corporation. He relied on being boundaryless and sharing ideas with all workers, he had an intense focus on people, and he had passion and integrity for GE. The Ten Commitments of Leadership, laid out by Kouzes and Poszner in the book, “The Leadership Challenge”, serve as a guide on how leaders get extraordinary things done in an organization. The strengths and style of such a remarkable leader like Jack Welch can be compared to these commitments with great accuracy, as he has followed them throughout his career and his dealing with people on a day to day basis. By looking at these Ten Commitments and the qualities of a leader such as Jack Welch, we are able to better understand what it takes to be successful in an organization and become better leaders ourselves.
Jack Welch fully embodies the first of the Ten Commitments, which is “Find your voice.” A key element to finding your voice is to clarify your values and express yourself. Jack Welch did both of these starting his first day at GE. “In just one year, GE’s bureaucracy would nearly drive me out of the company” (Welch, p. 0) Jack stated in his book. His values were molded when he received his first raise of $1,000. Jack felt that this was an insufficient raise for all the work had had completed. He then negotiated with his boss, even put in his resignation, and he offered Jack an extra $,000 to stay, a promise of increase in responsibility, and cover from the bureaucracy. This made a powerful impression on a young Jack Welch. His values from this point on were for “rewarding the best and weeding out the ineffective” (Welch, p. 5). Jack had begun his unwavering commitment to his set of values early in his career. As CEO of GE, Jack began to express these values with his own voice. Throughout his career at GE, Jack stuck closely to the idea that rewarding the best and removing the weakest was the only way to run this business. As stated in his book “Rigorous differentiation delivers real stars, and stars build great business” (Welch, p. 5). He has spoken on this view throughout his career at GE, and acted on it in many ways.
The second of the Ten Commitments is to “Set the Example,” meaning a leader needs to build and affirm shared values and align actions with those values. Tremendous energy is generated when the values of an organization are all working towards the same goal. Jack’s values of dealing with his people were shared by all his executives at GE, and eventually his managers too. Everyone was “always fighting to raise the bar” (Welch, p. 5) and focusing on Jack’s need to build great people. In a company with over 00,000 employees and 4,000 senior managers, Jack knew that there needed to be some structure so that standards are always met. He uses the term “differentiation” as his way of looking at his people within the organization. By getting excited and passionate about his people, Jack was able to gain enthusiasm and commitment from them. Jack always worked by the same standards he expected from his people be number one. If an employee was not able to live up this expectation, Jack followed what he said and “removed the weakest.” He began with the Session C’s which are meetings held once a year where each manager discussed the performance of each of their subordinates, and the bottom ten percent are let go. These sessions got many employees involved in the decision making process, which gained their buy in of his values. Jack leads by example and follows his values in every action he takes.
The next of the 10 commitments is “Envision the Future” which was a real strength for Jack Welch at GE. As CEO, Jack knew that in order for GE to stay in business, he needed to be forward-looking and work towards the future. On December 8, 181, Jack made his first speech as CEO to financial representatives in New York City. During this speech, Jack laid out his visions for the future. He said that he will insist upon being the number one or number two producers of every product GE makes. The businesses where they are not in this position will be sold or closed. This was his central idea for the future success of the Company, along with three dominant soft values of reality, quality/excellence, and the human element (Welch, App. A). Jack lived by this No. 1 or No. vision for the future his entire career. “Like every goal or initiative we’ve ever launched, I repeated the No. 1 or No. message over and over again until I nearly gagged on the words. The organization had to see every management action aligned with the vision” (Welch, p. 10). ) Throughout Jack’s career with GE, he stuck to this vision for the future, and sold off all his businesses that fell below number two and would buy other businesses that were number one or number two in a different industry. Jack rarely talked about the past; he constantly talked about the present and the future. He cares passionately about where GE stands today, but, above all else, he wants to determine how to move the company into the future.
Jack Welch and his counterparts at GE all worked together as a team to create Jack’s vision for the Company. The next of the Ten Commitments is “Enlist Others” which Jack was very successful at doing. Enlisting others means that a leader has effectively communicated their vision to their people and has taught them the importance of following this vision every day. “My whole job is people. I can’t design an engine. I have to bet on people” (Slater, p.14). He began to work towards the challenge of engaging the minds of his workers and exploring ways to improve the day-to-day functioning of the business (Slater, p. 146). Jack Welch was striving to create a boundaryless culture that encouraged workers to share ideas and learn from one another. He created Work-Out sessions, where his visions and goals were communicated to all the GE employees. These were workshops that taught workers about the Company, about getting along with others, and working as a team with their bosses (Slater, pp. 154 - 160). This was a very successful way to bring all workers together and get them on board with Jack’s vision for the future success of GE. Jack was a strong communicator and always spoke from the heart. “Whenever I had an idea or message I wanted to drive into the organization, I could never say it enough. I repeated it over and over and over, at every meeting and review, for years, until I could almost gag on the words” (Welch, p. ). The successful employees believed in his values that the best people should be rewarded and the weakest should be removed. Jack communicated these values well throughout the organization, making this a main focus. Jack has made all GE employees carry a small, wallet-sized card that is a list of GE’s core values. “There isn’t a human being in GE that wouldn’t have the Values Guide with them. It means everything and we live it. And we remove people we don’t have those values, even when they post great results” (Slater, p. 5).
The fifth of the Ten Commitments is to “Search for opportunities.” Jack Welch at GE was always searching for new ways to do things and new challenges to conquer. The way to search for opportunities is by “seeking innovative ways to change, grow, and improve” (Kouzes & Posner, p. 04). A leader needs to treat every job as an adventure and always seek out challenges for themselves and for others. Jack Welch believes in doing the best possible, and then reaching beyond. He calls this business strategy “stretching”, which means exceeding goals. Jack explains that stretching is a way to figure out performance targets that are achievable and reasonable, then raising the sights higher towards goals that seem almost beyond reach. “We have found that by reaching for what appears to be the impossible, we often actually do the impossible; and even when we don’t quite make it, we inevitably wind up doing much better than we would have done”(Slater, p. 165). Jack Welch was always searching for opportunities to better his business and to better his people.
Jack Welch as CEO of GE was a risk taker. He is one to break out of the norm and improve the way things are. The next of the Ten Commitments is “Experiment and Take Risks” and Jack fully embodies this characteristic. Jack’s revolutionary strategies have made GE the benchmark for today’s global corporation. He took risks with his No. 1 and No. strategy, by selling off businesses and buying new ones; he took a risk when acquiring RCA (NBC) and getting into a business GE knew little about; he took a risk when putting millions of dollars into Crotonville for developing people, he took a risk when creating Session C’s and laying off the worst performers, and he took risks many other times through-out his career at GE (Welch, pp. 100 � 157). Jack Welch experimented and created new initiatives that helped build a stronger GE. He implemented Globalization, Six Sigma, and E-business. Jack made a comment when asked about the risks he has taken; “I would have liked to have done things a lot faster. I’ve been here for seventeen years. Imagine if I’d taken four, three, or even one year too long in making my decisions. I would have had a rude awakening” (Slater, p. 4). Being a risk taker such as Jack Welch is an important part of being a successful leader and accomplishing the 6th of the Ten Commitments
The next of the Ten Commitments is to “Foster Collaboration.” Leadership is not a solo act, it is a team effort. A good leader knows how to collaborate their people and get them to work as teams towards a common goal. They must promote cooperative goals and build trust in their people. Jack Welch believed in a boundaryless organization, where everyone worked together and shared ideas to make the company more successful. He held many team building exercises and classes at Crotonville, he taught his managers to “Act like a leader, not a manager”, and he trusted in his people and gave them decision making power (Slater, p.15). Jack said “We want to be more than that. We want to change the competitive landscape. We want to make our quality so special, so valuable to our customers, so important to their success that our products become their only real value choice.” (Slater, p. 5). As in this last statement, Jack Welch commonly used the terms “we”, “us,” and “our.” This is a major key in fostering collaboration. It is important for a leader to use inclusive language to reinforce the fact that goals are truly collaborative. Jack Welch also believed in a community environment at GE. Everything is open so workers can talk and work together. The offices are set up into pods of four desks, all facing each other, and they are open with no doors to allow visitors at any time. Again, this fosters collaboration by putting workers face to face on a daily basis. Teamwork was very important to Jack Welch as CEO of GE, and played significantly into his success.
Jack Welch believed in the development of his people. This is the next of the Ten Commitments, “Strengthen Others,” which again, was a strong leadership characteristic for Jack Welch. “The way to get faster, and more productive, and more competitive is to unleash the energy and intelligence and raw, ornery, self-confidence of the American worker, who is still by far the most productive and innovative in the world” Jack said (Slater, p. 144). Jack believed in involving every worker in the decision making process. He believed that they had great ideas and by not taping into this resource, the company is missing out on future success. Jack believed in empowering people to make decisions, and empowering them to take responsibility for failures. In 181, when Jack first became CEO of GE, he took on a large project of remaking Crotonville, with the idea that it was going to “remake GE” (Welch, p. 171). Crotonville is a large training facility in Ossining, New York, which is used to give classes on many topics to potential and existing GE leaders all over the Company. Jack spent many of his years focusing on Crotonville and the development of his people. He knew that without some kind of training, his pool of future leadership for GE would be too small, and that could lead to problems. “When all is said and done, teaching is what I try to do for a living. Truth is, I’ve always liked teaching” (Welch, p. 176). Jack also focused on the importance of training by requiring the leadership of the company to be black-belt certified. On January 1st of 18, Jack sent out a fax to managers around the company, stating that one must have started green belt or black belt training in order to be promoted to senior management. It also stated that on January 1st of 1, all of GE’s “professional” employees must have begun green belt or black belt training. Jack’s message was clear “If you don’t have a belt, you won’t be promoted” (Slater, p. 1). This verifies that training, development, and “strengthening others” were extremely important to Jack Welch, which is yet another commitment that made him a phenomenal leader.
The next of the Ten Commitments is to “Recognize Contributions” which Jack Welch did in numerous different ways throughout his career at GE. Only when constituents feel appreciated by their leaders do they put forth extraordinary effort. Those employees who do not feel that their work is appreciated will harness a feeling of anger and therefore not perform to the best of their capabilities. Jack Welch knew this, and he took care of his people for a job well done. Again, this goes back to Jack’s view of “rewarding the best and weeding out the ineffective.” (Welch, p. 5). To Jack, rewarding the best meant giving them promotions to better positions, stock options, salary raises, and other substantial gifts as a thank you’s for good performance and as insurance that they will perform that well again. He would never hesitate to tell an employee they were doing a great job, or thank them for their hard work. All of the executives that worked closely with Jack throughout his career have been given hand written thank you letters from Jack when they did something spectacular. An excerpt from an article mentioned a letter that Jack wrote to an employee; ‘‘Bill, wrote Welch, we like you for a lot of reasons--one of them is that you are a very special person. You proved it again this morning. Good for you and your lucky family. Make Diamonds a great business and keep your priorities straight. To Bill Woodburn, the note was an important gesture. It showed me he cared about me not as a manager but as a person, he says. That means a lot (Abbott). Employees even sometimes received an expensive surprise at their front door, for example, William J. Conaty, one manager who had to make a presentation before Welch was so jittery he was shaking. It was the first time he had met Welch in his career. Im so nervous, the manager confessed to Welch. And my wife has told me shell throw me out of the house if I cant get through this presentation. At days end, when Welch was back on the corporate plane, he immediately arranged for a dozen roses and a bottle of Dom Perignon to be delivered to the mans home. He then penned a note to the wife Your husband did a fantastic job today. Were sorry we put him and you through this for a couple of weeks (Abbott). Jack Welch was not afraid to give recognition when it was due, and he made everyone aware of the accomplishments of others, so people could learn from each other’s successes
The last of the Ten Commitments is to “Celebrate the Values and Victories.” Celebrations are one of the most significant ways to proclaim respect and gratitude, to renew a sense of community, and to remind people of the values and history that bind the organization together. Jack Welch believed in celebrating and having fun at work. At Crotonville, Jack would typically ask his students “Are you celebrating enough?” The students typically told him no. Jack would push back at them and encourage them to begin celebrating within their teams “You have to consider yourself the manager of celebrations. It can be a keg of beer or a dinner for two” (Welch, p. 87). Jack Welch always said that business has to be fun. He believed that celebrations are a great way to energize an organization. GE continues to have many events and celebrations for all employees and sometimes their families to participate in. “GE Days” happens once every two years, where all employees and their families can come onto GE property and tour the manufacturing plants and see the offices where their family member works. Each department within GE is encouraged to have picnics and parties to celebrate victories. Jack allowed money in the budget for these kinds of celebrations, and made sure that the departments were using the money to do so. Jack purchased parks and golf courses to be used by GE employees, and he encouraged and allowed employees to have golf outings during what should have been a normal business day (Welch, p. 67). Jack Welch thoroughly believed in creating a fun work environment, and allowing everyone to celebrate when they were successful.
Jack Welch embodies all of the Ten Commitments necessary for a strong leader to be successful. But no one is perfect, and Jack Welch did have his faults. During his early restructuring efforts of GE, he won the name of “Neutron Jack” from the media, which was an allusion to the neutron bomb that eliminates people but leaves the building standing. Jack hated the name because it suggested that he had been unfair to his employees, and that he had pushed them into the streets without a way to make a living. (Slater, p. 64). Within Jack’s first five years as CEO, one of every four people would leave the GE payroll. This made for 118,000 people in all, including 7,000 employees in businesses that were sold. What upset people even more was that Jack was investing millions of dollars in fitness centers, guesthouses, and conference centers. This was a hard time for Jack, but he kept doing what he felt was right for GE. This legendary chairman of GE was known to have a “take-no-prisoners” tough guy persona and gets results at any cost. He does this through sheer force of personality, passion for winning, and a sharp attention to details many leaders would simply overlook. Jack says he does it because, above all else, hes a fierce believer in the power of his people (Abbott). But this attitude intimidated many employees in the company. This made them afraid to approach Welch, and sometimes even scared them enough to leave the company. His brut honesty with poor performers would leave some employees with burnt egos. So there were some faults in Jack Welch’s leadership skills, although they had little effect on his ability to make General Electric successful.
From reading several books on Jack Welch and having several friends that work at GE, I became intrigued with his integrity, intelligence, and passion for the people within the GE organization. He truly redesigned the way an organization treats and values their employees. His focus was on people all throughout his career, and his main focus was on having the number one people, because with the number one people you can have the number one company. “We build great people, who then build great products and services” (Welch, p.157). I found Jack’s commitment to training and developing employees to be the one of the Ten Commitments that stood out and really made Jack Welch a unique leader. “I’m over the top on lots of issues, but none comes as close to the passion I have for making people GE’s core competency” (Welch, p. 156). Jack got involved with teaching and facilitating classes for managers and executives at Crotonville every year of his tenure with GE. I think this is so important for a successful leader to get in front of their people and talk about their values and visions and teach the people to go out and inspire others to follow the visions as well. I was also very interested in his ideas of “rewarding the best and weeding out the ineffective” (Welch, p.5). Differentiation was a very interesting concept for me, and I think this idea is a large reason that GE has been so successful and remained highly competitive in its industries. Jack divides people into A, B, and C players, and C players are the ones that will be let go from the Company. Jack’s philosophy is to get rid of the bottom 10%, meaning the least effective performers in the organization. To me, this is the way all businesses should be run. Being employed is a privilege, not a right, so if someone is not performing, they lose the privilege of earning money at that company. It just makes sense, and Jack Welch is one of the few leaders that truly understand the importance of this philosophy and stands by it 100%. I think there are many ways in which Jack Welch was a successful leader. His drive and ambition, his creative ideas, his structured leadership style, and his use of his people all made him one of the most admired business leaders in the world. There is so much more to say about Jack Welch and his success at GE, but I will end it with a comment straight from the horse’s mouth. This place runs by its great people, says Welch. The biggest accomplishment Ive had is to find great people. An army of them. They are all better than most CEOs. They are big hitters, and they seem to thrive here (Abbott).
References
J. Abbott, “How Jack Welch Runs GE,” Business Week Online Archives, May 8, 18.
J. Kouzes and B. Posner, The Leadership Challenge, Jossey-bass, 00 (Third Edition).
R. Slater, Jack Welch and the GE Way, McGraw-Hill, 1.
J. Welch and J. Byrne, Jack Straight from the Gut, Warner Books, 001.
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Jack Welch and the Ten Commitments of Leadership A True Human Resource Leader
One of the greatest and most effective Human Resource and Business leaders of all time was Jack Welch, CEO of General Electric. Over his 0 years as CEO, he has established himself as the most admired business leader in the world. His initiatives of Six Sigma, globalization, and e-business have defined the modern corporation. He relied on being boundaryless and sharing ideas with all workers, he had an intense focus on people, and he had passion and integrity for GE. The Ten Commitments of Leadership, laid out by Kouzes and Poszner in the book, “The Leadership Challenge”, serve as a guide on how leaders get extraordinary things done in an organization. The strengths and style of such a remarkable leader like Jack Welch can be compared to these commitments with great accuracy, as he has followed them throughout his career and his dealing with people on a day to day basis. By looking at these Ten Commitments and the qualities of a leader such as Jack Welch, we are able to better understand what it takes to be successful in an organization and become better leaders ourselves.
Jack Welch fully embodies the first of the Ten Commitments, which is “Find your voice.” A key element to finding your voice is to clarify your values and express yourself. Jack Welch did both of these starting his first day at GE. “In just one year, GE’s bureaucracy would nearly drive me out of the company” (Welch, p. 0) Jack stated in his book. His values were molded when he received his first raise of $1,000. Jack felt that this was an insufficient raise for all the work had had completed. He then negotiated with his boss, even put in his resignation, and he offered Jack an extra $,000 to stay, a promise of increase in responsibility, and cover from the bureaucracy. This made a powerful impression on a young Jack Welch. His values from this point on were for “rewarding the best and weeding out the ineffective” (Welch, p. 5). Jack had begun his unwavering commitment to his set of values early in his career. As CEO of GE, Jack began to express these values with his own voice. Throughout his career at GE, Jack stuck closely to the idea that rewarding the best and removing the weakest was the only way to run this business. As stated in his book “Rigorous differentiation delivers real stars, and stars build great business” (Welch, p. 5). He has spoken on this view throughout his career at GE, and acted on it in many ways.
The second of the Ten Commitments is to “Set the Example,” meaning a leader needs to build and affirm shared values and align actions with those values. Tremendous energy is generated when the values of an organization are all working towards the same goal. Jack’s values of dealing with his people were shared by all his executives at GE, and eventually his managers too. Everyone was “always fighting to raise the bar” (Welch, p. 5) and focusing on Jack’s need to build great people. In a company with over 00,000 employees and 4,000 senior managers, Jack knew that there needed to be some structure so that standards are always met. He uses the term “differentiation” as his way of looking at his people within the organization. By getting excited and passionate about his people, Jack was able to gain enthusiasm and commitment from them. Jack always worked by the same standards he expected from his people be number one. If an employee was not able to live up this expectation, Jack followed what he said and “removed the weakest.” He began with the Session C’s which are meetings held once a year where each manager discussed the performance of each of their subordinates, and the bottom ten percent are let go. These sessions got many employees involved in the decision making process, which gained their buy in of his values. Jack leads by example and follows his values in every action he takes.
The next of the 10 commitments is “Envision the Future” which was a real strength for Jack Welch at GE. As CEO, Jack knew that in order for GE to stay in business, he needed to be forward-looking and work towards the future. On December 8, 181, Jack made his first speech as CEO to financial representatives in New York City. During this speech, Jack laid out his visions for the future. He said that he will insist upon being the number one or number two producers of every product GE makes. The businesses where they are not in this position will be sold or closed. This was his central idea for the future success of the Company, along with three dominant soft values of reality, quality/excellence, and the human element (Welch, App. A). Jack lived by this No. 1 or No. vision for the future his entire career. “Like every goal or initiative we’ve ever launched, I repeated the No. 1 or No. message over and over again until I nearly gagged on the words. The organization had to see every management action aligned with the vision” (Welch, p. 10). ) Throughout Jack’s career with GE, he stuck to this vision for the future, and sold off all his businesses that fell below number two and would buy other businesses that were number one or number two in a different industry. Jack rarely talked about the past; he constantly talked about the present and the future. He cares passionately about where GE stands today, but, above all else, he wants to determine how to move the company into the future.
Jack Welch and his counterparts at GE all worked together as a team to create Jack’s vision for the Company. The next of the Ten Commitments is “Enlist Others” which Jack was very successful at doing. Enlisting others means that a leader has effectively communicated their vision to their people and has taught them the importance of following this vision every day. “My whole job is people. I can’t design an engine. I have to bet on people” (Slater, p.14). He began to work towards the challenge of engaging the minds of his workers and exploring ways to improve the day-to-day functioning of the business (Slater, p. 146). Jack Welch was striving to create a boundaryless culture that encouraged workers to share ideas and learn from one another. He created Work-Out sessions, where his visions and goals were communicated to all the GE employees. These were workshops that taught workers about the Company, about getting along with others, and working as a team with their bosses (Slater, pp. 154 - 160). This was a very successful way to bring all workers together and get them on board with Jack’s vision for the future success of GE. Jack was a strong communicator and always spoke from the heart. “Whenever I had an idea or message I wanted to drive into the organization, I could never say it enough. I repeated it over and over and over, at every meeting and review, for years, until I could almost gag on the words” (Welch, p. ). The successful employees believed in his values that the best people should be rewarded and the weakest should be removed. Jack communicated these values well throughout the organization, making this a main focus. Jack has made all GE employees carry a small, wallet-sized card that is a list of GE’s core values. “There isn’t a human being in GE that wouldn’t have the Values Guide with them. It means everything and we live it. And we remove people we don’t have those values, even when they post great results” (Slater, p. 5).
The fifth of the Ten Commitments is to “Search for opportunities.” Jack Welch at GE was always searching for new ways to do things and new challenges to conquer. The way to search for opportunities is by “seeking innovative ways to change, grow, and improve” (Kouzes & Posner, p. 04). A leader needs to treat every job as an adventure and always seek out challenges for themselves and for others. Jack Welch believes in doing the best possible, and then reaching beyond. He calls this business strategy “stretching”, which means exceeding goals. Jack explains that stretching is a way to figure out performance targets that are achievable and reasonable, then raising the sights higher towards goals that seem almost beyond reach. “We have found that by reaching for what appears to be the impossible, we often actually do the impossible; and even when we don’t quite make it, we inevitably wind up doing much better than we would have done”(Slater, p. 165). Jack Welch was always searching for opportunities to better his business and to better his people.
Jack Welch as CEO of GE was a risk taker. He is one to break out of the norm and improve the way things are. The next of the Ten Commitments is “Experiment and Take Risks” and Jack fully embodies this characteristic. Jack’s revolutionary strategies have made GE the benchmark for today’s global corporation. He took risks with his No. 1 and No. strategy, by selling off businesses and buying new ones; he took a risk when acquiring RCA (NBC) and getting into a business GE knew little about; he took a risk when putting millions of dollars into Crotonville for developing people, he took a risk when creating Session C’s and laying off the worst performers, and he took risks many other times through-out his career at GE (Welch, pp. 100 � 157). Jack Welch experimented and created new initiatives that helped build a stronger GE. He implemented Globalization, Six Sigma, and E-business. Jack made a comment when asked about the risks he has taken; “I would have liked to have done things a lot faster. I’ve been here for seventeen years. Imagine if I’d taken four, three, or even one year too long in making my decisions. I would have had a rude awakening” (Slater, p. 4). Being a risk taker such as Jack Welch is an important part of being a successful leader and accomplishing the 6th of the Ten Commitments
The next of the Ten Commitments is to “Foster Collaboration.” Leadership is not a solo act, it is a team effort. A good leader knows how to collaborate their people and get them to work as teams towards a common goal. They must promote cooperative goals and build trust in their people. Jack Welch believed in a boundaryless organization, where everyone worked together and shared ideas to make the company more successful. He held many team building exercises and classes at Crotonville, he taught his managers to “Act like a leader, not a manager”, and he trusted in his people and gave them decision making power (Slater, p.15). Jack said “We want to be more than that. We want to change the competitive landscape. We want to make our quality so special, so valuable to our customers, so important to their success that our products become their only real value choice.” (Slater, p. 5). As in this last statement, Jack Welch commonly used the terms “we”, “us,” and “our.” This is a major key in fostering collaboration. It is important for a leader to use inclusive language to reinforce the fact that goals are truly collaborative. Jack Welch also believed in a community environment at GE. Everything is open so workers can talk and work together. The offices are set up into pods of four desks, all facing each other, and they are open with no doors to allow visitors at any time. Again, this fosters collaboration by putting workers face to face on a daily basis. Teamwork was very important to Jack Welch as CEO of GE, and played significantly into his success.
Jack Welch believed in the development of his people. This is the next of the Ten Commitments, “Strengthen Others,” which again, was a strong leadership characteristic for Jack Welch. “The way to get faster, and more productive, and more competitive is to unleash the energy and intelligence and raw, ornery, self-confidence of the American worker, who is still by far the most productive and innovative in the world” Jack said (Slater, p. 144). Jack believed in involving every worker in the decision making process. He believed that they had great ideas and by not taping into this resource, the company is missing out on future success. Jack believed in empowering people to make decisions, and empowering them to take responsibility for failures. In 181, when Jack first became CEO of GE, he took on a large project of remaking Crotonville, with the idea that it was going to “remake GE” (Welch, p. 171). Crotonville is a large training facility in Ossining, New York, which is used to give classes on many topics to potential and existing GE leaders all over the Company. Jack spent many of his years focusing on Crotonville and the development of his people. He knew that without some kind of training, his pool of future leadership for GE would be too small, and that could lead to problems. “When all is said and done, teaching is what I try to do for a living. Truth is, I’ve always liked teaching” (Welch, p. 176). Jack also focused on the importance of training by requiring the leadership of the company to be black-belt certified. On January 1st of 18, Jack sent out a fax to managers around the company, stating that one must have started green belt or black belt training in order to be promoted to senior management. It also stated that on January 1st of 1, all of GE’s “professional” employees must have begun green belt or black belt training. Jack’s message was clear “If you don’t have a belt, you won’t be promoted” (Slater, p. 1). This verifies that training, development, and “strengthening others” were extremely important to Jack Welch, which is yet another commitment that made him a phenomenal leader.
The next of the Ten Commitments is to “Recognize Contributions” which Jack Welch did in numerous different ways throughout his career at GE. Only when constituents feel appreciated by their leaders do they put forth extraordinary effort. Those employees who do not feel that their work is appreciated will harness a feeling of anger and therefore not perform to the best of their capabilities. Jack Welch knew this, and he took care of his people for a job well done. Again, this goes back to Jack’s view of “rewarding the best and weeding out the ineffective.” (Welch, p. 5). To Jack, rewarding the best meant giving them promotions to better positions, stock options, salary raises, and other substantial gifts as a thank you’s for good performance and as insurance that they will perform that well again. He would never hesitate to tell an employee they were doing a great job, or thank them for their hard work. All of the executives that worked closely with Jack throughout his career have been given hand written thank you letters from Jack when they did something spectacular. An excerpt from an article mentioned a letter that Jack wrote to an employee; ‘‘Bill, wrote Welch, we like you for a lot of reasons--one of them is that you are a very special person. You proved it again this morning. Good for you and your lucky family. Make Diamonds a great business and keep your priorities straight. To Bill Woodburn, the note was an important gesture. It showed me he cared about me not as a manager but as a person, he says. That means a lot (Abbott). Employees even sometimes received an expensive surprise at their front door, for example, William J. Conaty, one manager who had to make a presentation before Welch was so jittery he was shaking. It was the first time he had met Welch in his career. Im so nervous, the manager confessed to Welch. And my wife has told me shell throw me out of the house if I cant get through this presentation. At days end, when Welch was back on the corporate plane, he immediately arranged for a dozen roses and a bottle of Dom Perignon to be delivered to the mans home. He then penned a note to the wife Your husband did a fantastic job today. Were sorry we put him and you through this for a couple of weeks (Abbott). Jack Welch was not afraid to give recognition when it was due, and he made everyone aware of the accomplishments of others, so people could learn from each other’s successes
The last of the Ten Commitments is to “Celebrate the Values and Victories.” Celebrations are one of the most significant ways to proclaim respect and gratitude, to renew a sense of community, and to remind people of the values and history that bind the organization together. Jack Welch believed in celebrating and having fun at work. At Crotonville, Jack would typically ask his students “Are you celebrating enough?” The students typically told him no. Jack would push back at them and encourage them to begin celebrating within their teams “You have to consider yourself the manager of celebrations. It can be a keg of beer or a dinner for two” (Welch, p. 87). Jack Welch always said that business has to be fun. He believed that celebrations are a great way to energize an organization. GE continues to have many events and celebrations for all employees and sometimes their families to participate in. “GE Days” happens once every two years, where all employees and their families can come onto GE property and tour the manufacturing plants and see the offices where their family member works. Each department within GE is encouraged to have picnics and parties to celebrate victories. Jack allowed money in the budget for these kinds of celebrations, and made sure that the departments were using the money to do so. Jack purchased parks and golf courses to be used by GE employees, and he encouraged and allowed employees to have golf outings during what should have been a normal business day (Welch, p. 67). Jack Welch thoroughly believed in creating a fun work environment, and allowing everyone to celebrate when they were successful.
Jack Welch embodies all of the Ten Commitments necessary for a strong leader to be successful. But no one is perfect, and Jack Welch did have his faults. During his early restructuring efforts of GE, he won the name of “Neutron Jack” from the media, which was an allusion to the neutron bomb that eliminates people but leaves the building standing. Jack hated the name because it suggested that he had been unfair to his employees, and that he had pushed them into the streets without a way to make a living. (Slater, p. 64). Within Jack’s first five years as CEO, one of every four people would leave the GE payroll. This made for 118,000 people in all, including 7,000 employees in businesses that were sold. What upset people even more was that Jack was investing millions of dollars in fitness centers, guesthouses, and conference centers. This was a hard time for Jack, but he kept doing what he felt was right for GE. This legendary chairman of GE was known to have a “take-no-prisoners” tough guy persona and gets results at any cost. He does this through sheer force of personality, passion for winning, and a sharp attention to details many leaders would simply overlook. Jack says he does it because, above all else, hes a fierce believer in the power of his people (Abbott). But this attitude intimidated many employees in the company. This made them afraid to approach Welch, and sometimes even scared them enough to leave the company. His brut honesty with poor performers would leave some employees with burnt egos. So there were some faults in Jack Welch’s leadership skills, although they had little effect on his ability to make General Electric successful.
From reading several books on Jack Welch and having several friends that work at GE, I became intrigued with his integrity, intelligence, and passion for the people within the GE organization. He truly redesigned the way an organization treats and values their employees. His focus was on people all throughout his career, and his main focus was on having the number one people, because with the number one people you can have the number one company. “We build great people, who then build great products and services” (Welch, p.157). I found Jack’s commitment to training and developing employees to be the one of the Ten Commitments that stood out and really made Jack Welch a unique leader. “I’m over the top on lots of issues, but none comes as close to the passion I have for making people GE’s core competency” (Welch, p. 156). Jack got involved with teaching and facilitating classes for managers and executives at Crotonville every year of his tenure with GE. I think this is so important for a successful leader to get in front of their people and talk about their values and visions and teach the people to go out and inspire others to follow the visions as well. I was also very interested in his ideas of “rewarding the best and weeding out the ineffective” (Welch, p.5). Differentiation was a very interesting concept for me, and I think this idea is a large reason that GE has been so successful and remained highly competitive in its industries. Jack divides people into A, B, and C players, and C players are the ones that will be let go from the Company. Jack’s philosophy is to get rid of the bottom 10%, meaning the least effective performers in the organization. To me, this is the way all businesses should be run. Being employed is a privilege, not a right, so if someone is not performing, they lose the privilege of earning money at that company. It just makes sense, and Jack Welch is one of the few leaders that truly understand the importance of this philosophy and stands by it 100%. I think there are many ways in which Jack Welch was a successful leader. His drive and ambition, his creative ideas, his structured leadership style, and his use of his people all made him one of the most admired business leaders in the world. There is so much more to say about Jack Welch and his success at GE, but I will end it with a comment straight from the horse’s mouth. This place runs by its great people, says Welch. The biggest accomplishment Ive had is to find great people. An army of them. They are all better than most CEOs. They are big hitters, and they seem to thrive here (Abbott).
References
J. Abbott, “How Jack Welch Runs GE,” Business Week Online Archives, May 8, 18.
J. Kouzes and B. Posner, The Leadership Challenge, Jossey-bass, 00 (Third Edition).
R. Slater, Jack Welch and the GE Way, McGraw-Hill, 1.
J. Welch and J. Byrne, Jack Straight from the Gut, Warner Books, 001.
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