Using SM for Advertising and Marketing Social Media Is Increasingly Essay

Using SM for Advertising and Marketing Social Media Is Increasingly Used for PR - Essay Example Notably, in the current day context, social media is being used increasingly by the marketers in order to promote the offered products as well as services. It is basically a concept which is utilised referring to the online technologies as well as practices utilised to share views as well as information, endorse discussion and develop relationship with the customers. It is also quite significant for the communication staffs as well as policy officials for the purpose of generating awareness regarding the product. Social media services can make use of numerous formats such as text, video, audio as well as pictures for attracting the customers towards the product. In the similar context, public relation can be identified as a distinguishing function of the management that assist in the development and administration of communication, cooperation, comprehension and recognition between organisations along with community members. The main objective of the paper is to identify the increasi ng role of the social media as one of the means of advertisement for modern organisations. According to Hamill (1997), integrated marketing communication can be explained as the set of rules that is followed by marketers to communicate within the concentrated market and thus make the people aware regarding the product/service rendered. ... g communication can be explained as the set of rules that is followed by marketers to communicate within the concentrated market and thus make the people aware regarding the product/service rendered. Integrated marketing communication intends to synchronize and arrange the numerous components of promotional mix such as advertising, publicity and direct marketing, personal selling as well as sales promotion in order generate a combined customer-focused message and therefore attain the determined marketing related objectives of the organisation (Hamill, 1997). It can be stated that the tools as well as the strategies that have been utilised for the purpose of communication in the modern times have undergone tremendous changes because of the discovery of social media. It is also known as consumer-generated media. Such media demonstrates various new sources of online information that are generated, instigated, circulated and utilised by the consumer goal on enlightening each other regard ing the products, brands, issues, personalities and services (Thackeray & et. al., 2009) Social media comprises numerous forums such as online forums, word-of-mouth forums, company-sponsored discussion boards and chat rooms. In the 21st century, a detonation of internet-based messages passes via these media to generate awareness about the offered product. They have been a major factor in creating an impact on the different features of consumer behaviour along with consciousness, acquirement of the information, opinion, feeling, post-purchase communication as well as evaluation (Zwick & Dholakia, 2008) Traditional Vs New Communication In the context of traditional communication concept, the components of promotional mix are coordinated in order to create an Integrated Marketing Communication

Environmental Justice and Sustainability Essay Example for Free

Environmental Justice and Sustainability Essay Alex Steffen and Sarah Rich, executive editors of the bright green environmentalist online magazine WorldChanging recently observed that while environmental movements have focused primarily on confronting the ecological injustices that have become a historical trademark of industrialization, it has made little of a name for itself in addressing the social injustice that is also a part of environmental degradation. (Steffen Rich, 2007) Steffen and Rich remark, â€Å"the environmental movement has grown and become known (at least early on) more for its vehement advocacy for whales and rainforests than for disenfranchised citizens† noting that the latter is generally regarded as a concern of other movements related to social justice and civil rights. However, they note that it has become increasingly apparent that social injustice and environmental degradation are inextricably related to one another. (Steffen Rich, 2007) While many cities have begun to embrace the concept of sustainability into their policies, few have taken environmental justice into account. Van Jones neatly summarized the issue of environmental justice when he declared at last year’s Green Festival in Chicago, Who are we going to take with us, and who are we going to leave behind? Jones concern was that the environmental movement is divided between the rich and the poor. (Anderson, 2007) As such, any definition of sustainability must take the social dimensions of environmental damage into account, for the degradation of the environment is in fact, a civil injustice. Sustainability must embrace environmental justice by letting â€Å"environment† stand not just for concerns over resources, pollution and biodiversity but concerns over equitable distribution of resources, human health and racial equality. (Steffen Rich, 2007) The city of San Francisco has embraced the United Nations definition of sustainability and has conclusively inferred that sustainability means social equity as much as it does environmental responsibility. However, it is also rather vague about what social equitability means. (Magilavy, 2008) Sustainability policies should declare that improvements and protection of environmental welfare should be applied without discrimination. They should declare that resources are distributed equally and access to justice over environmental matters should be available to all, and that participation and decision making should be not limited to an exclusive demographic class or ethnicity. Likewise, environmental injustices such as the systemically inequitable distribution of wealth, the discriminatory improvement of environment, or the denial of access to information and participation in decision making in environmental-related policies should be covered by sustainability policies. As such, if the heart of sustainability’s definition is concern for the ecosystem and life within it, then it also includes the human beings who are part of it as well. The goal of sustainability should then be the achievement of the longevity of human and planet welfare, rather than just environmental protectionism by another name. The Global Footprint Network defines ‘ecological debt’ as the sum of all deficits in the biocapacity of the planet, and asserts that humanity’s demands on the planet is continuously exceeding that biocapacity. As such, the Network contends that we are in a state of overshoot, placing greater demands on nature than can it regenerate. (Global Footprint Network, 2008) This concept is crucial to the conception of environmental justice. Sustainability metrician Mathis Wackernagel (co-founder of The Global Footprint Network) has theorized that an equitable distribution of planetary capital would mean that our ‘fair share’ would have to be limited in addition to being sustainable. As such, Alex Steffen argues that the essence of sustainability is using the planet’s resource capital to create investments such that the same capital exists for future generations, anything else is unjust. (Steffen, 2006) Ecological democracy is an important means of achieving sustainability and environmental justice. To ensure that the environmental welfare of all individuals, regardless of race, class or gender is accounted for and that it is not done at the expense of planetary capital and the environmental welfare of future generations, decisions must be made that are free from the influence of the economic elite, racial factions, political forces and other special interests. In other words, the decisions to be made about the future of the environment must be done democratically to ensure that all have a say in the control of their local environment. Sustainability begins with environmental justice, which in turn is possible only with ecological democracy. The only alternative to such a form of environmentalism is a continuing perpetuation of inegalitarian systems, where we save the planet not for future generations, not for our fellow men, but for ourselves. REFERENCES Anderson, D. (2007, April 22) Dispatch from Greenfest Chicago: Van Jones on Green Collar Jobs and Our Shared Future, Part 1. Retrieved April 1, 2008 from http://davidanderson. greenoptions. com/2007/04/22/dispatch-from-greenfest-chicago-van-jones-on-green-collar-jobs-and-our-shared-future-part-i/ Global Footprint Network. Glossary. Retrieved April 1, 2008 from http://www. footprintnetwork. org/gfn_sub. php? content=glossary Magilavy, B. (2008) Sustainability Plan. Retrieved April 1, 2008 from http://sustainable-city. org/Plan/Intro/intro. htm Steffen, A. Rich, S. (2007, May 28) Principle 17: Environmental Justice. Worldchanging. Retrieved April 1, 2008 from http://www. worldchanging. com/archives/006778. html Steffen, A. (Ed. ) (2006) Worldchanging: A User’s Guide for the 21st Century. New York: Abrams, Inc.

Njoyable Workouts :: essays research papers

Enjoyable Fitness Workouts   Ã‚  Ã‚  Ã‚  Ã‚   In a recent article found in Women’s Sports & Fitness, there was a lengthy display of outdoor and indoor fitness exercises nation wide that were actually enjoyable. The first of these energizing activities is called Bikram Yoga. Bikram Yoga uses the technique of heat to maximize its effects. Taking place in a 107-degree studio the participants work on their yoga postures (the tree to name one), along with trying out many types of tension-relieving stretches to enhance flexibility. Such strong levels of heat are used because the hotter one is, the more pliable their muscles will become. Another type of excercise included is called the Denver winter Sports Conditioning. This includes the participants wearing/carrying weights and bands as they make their ways up the mountain. This technique is good for those who enjoy the act of mountain climbing and to improve their strength and mobility for future more difficult climbs. In Chicago there is the Athletic Total Conditioning group. This is a team taught group that is packed with military-style drills including things like running in small squares, throwing medicine balls and jumping over low hurdles. The class cultivates coordination, endurance, and strength. On the other side of the country there is the New York Urban Rebounding group. This class is for those sick of the usual workout scene. This class includes doing jumping lacks, kicks and tuck jumps on the trampoline, which all do wonders for the quads, calves, and abs. Rebounding is working against gravity and helps to detox the body by flushing out the wastes. In Washington, D.C. boxing is used to not only work out the body, but to de-stress also. These 90-minute are broken down into sections. The first section is devoted to the basic things like throwing punches, ducking imaginary blows, and doing some fancy footwork. Then 30-minutes on the punching bag with a partner, and finally ab work outs on the floor. In Atlanta there is a group called the Atlanta Trekkers. This group goes through an hour long treadmill class. It’s focus is on intense hill-training where the treadmills are elevated to a 15 percent incline. This group is good for those interested in prepping for springtime hiking. Finally, for a workout a little closer to home there is the Boston Kickboxing group. This high intensity hour is a great way to vent your anger as well as improve your fitness. This workout consists of jumping rope, fast sit-ups, pushups, lunges, and squats. Then it moves over to punching and kicking your partner (with the gloves on).

Economics; question and answer Essay

Introduction Question 1 War unrest in Middle East has negatively impacted on the price and quantity of oil in the market. The expectation of war from Syria and Iraq to spread to Middle East countries cause fear of possible shortages of supply as people may possibly do without oil. As a result people will buy more to store in preparation for future shortages. As the demand increases, price of oil goes up as people anticipate war unrest in the near future. When eventually the war sets in oil production is disrupted but people do not demand more since they had enough to cushion the scarcity (Kemp, 2013). In the graph illustration below, assuming the market was initially at the equilibrium. Since scarcity is expected in future people will by more (high demand) to spare for future. As the demand increase from 150 units to 350 units, the price also increases accordingly from $0.25 to $ 0.35. Graphical illustration    Question 2 Car and petro are complimentary good that are consumed together. Taxation on one of the complimentary products greatly influences the price of the other good. The increase in price of one good causes a corresponding decrease in the price of the other good and vice versa. For instance, taxing petrol increase its price, leading to high demand for high fuel efficient cars. Increase in demand for high fuel efficient cars results to increased price and vice versa. On the other hand increase in price for petrol leads to decrease in demand for low fuel efficient cars thus leading to their low price (Dwivedi, 2012). Many thus will buy high fuel efficient cars. Graphical illustration. Question 3 The fact that suppliers cannot sell live chicken directly to consumers coupled with the fear of mass death due to anticipated chicken flu results to high supply in the market. When supply increases beyond demand the price falls down. In addition since the health official are the only buyers a monopolistic competition comes into play since the price for chicken is not control by the market forces of demand and supply (Taylor,   &   Weerapana, 2012). The equilibrium the will shift to the right.    Graphical illustration    Question 4 Price elasticity of demand is the measure of responsive of the quantity demanded of a product to price change with other factors held ( Dwivedi, 2012). Price Elasticity of Demand (PEoD) = percentage change in quantity demanded (%ΔQ) à ·   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   percentage change in price (%ΔP) %ΔQ = 35 -50 / 50 Ãâ€"100 = -30% %ΔP = 8 -6 / 6 Ãâ€"100 = 33.33% Therefore, PEoD = -30 %/ 33.33% = -0.900 As economists we are not interested with the negative sign of our price elasticity of demand and therefore we take the absolute value. Therefore, the price elasticity of demand when price increases from $6 to $ 8 is 0.9. Interpretation. For the above case the demand for the good is price inelastic. This means that the demand for the product does not respond highly ton price changes. As evident in the computation, an increase of price by 33.3 % of the price results to a corresponding decrease of quantity demanded by 30%. The demand thus is not very sensitive to price changes. Question 5(a) Externality is an effect or a cost of the consumer behavior that may not be borne by the consumer but by the society. This mean s that the effects are caused by the consumer but the society bears the consequences. Tobacco smoking is among the activities that cause externalities. For instance narcotic in tobacco is believed to cause lung cancer to smokers. However the external cost of providing medical care to smokers is borne by non-smokers, by smokers and the government. Additionally environmental pollution due to smoking is borne by the family members of the smoker’s friends and even non-smokers strangers. Moreover, smoking has environmental externalities that involve deforestation to create room for tobacco growing.   Agrochemical used in tobacco production also adds to environmental pollution and degradation. Cigarette wastes are common in all cities, sidewalks and around homes. Although majority of these wastes are biodegradable, the filter and plastic wrappers and remain in the environment for long and the consequences of such pollution are felt by the larger society. Question 5(b) The Australian government in its attempt to control and minimize the external costs resulting from tobacco imposes high tax on tobacco. High taxation on tobacco increases the cost and as a result the demand for tobacco decreases. The tax imposed is transferred by producers to the consumers (smokers). When this happens, the demand curve will shift from right to left as indicated in the graph. Question 6 When entry barriers are eliminated in the market huge number of firms enters the industry resulting to excessive supply of commodities. In a market where entry barriers are limited the price of commodities is determined by the market forces since no firm has control over the market. Excessive supply that is created results to low prices of goods and services offered. In response the price the price goes down due to competition from other firm. As a result, the profit that firms were making initially decreases due. Graphical illustration Question 7 Oligopolistic market structures is a type of market where by small number of larger firms control the market jointly. The firms trade in almost similar goods. Oligopolistic firms do not engage in price competetion (Vives, 2001). Basing our argument on the game theory; where the actions one firm depend on those of other firms, it is evident that when for instance one firm lowers its price compared to other firms, customers will be attracted by the lower prices resulting to other firms making economical loss in their operation. In response to this the other will lower their price slighted below the initial firm eventually attracting the customers. The other firms in the market will make loss and eventually respond by making their prices much lower compared to other firms. This process continues until the firms sell at economically a low price that is illustrated by kinked curves (Vives, 2001).There to remain competitive and make profit do not engage in price competition.    Alternatives to price completion Oligopolistic firms compete by using alternative modes such as advertisement, product differentiation and barrier to entry in the market. Oligopolistic firms undertake a vigorous advertisement of their products both in national and international levels. Advertisement is made to make potential customers aware of the existence of the product in the market and the good qualities associated with such good and services (Taylor & Weerapana, 2012). Advertisement is carried out through mass media and product promotion. In addition oligopolistic firms constantly differentiate their products in terms of quality and always struggle to come up with new products design that outshine those of competitors. In the recent era, product differentiation has been enhanced by ever-growing technology and innovation. Since oligopolistic firms compete in almost similar goods and services coming up with new products with good qualities gives a firm advantage over its market rivals. For instance, phones manufacturing firms have constantly developed phone with new applications to remain competitive. Furthermore, the firms create market entry barriers to new firms, a strategy that ensures that the existing share of market. The common market barriers include the patent rights, important government franchises and the existing economies of scale. These are the barriers that ensure the market is not flooded by many firms, which in the end may reduce the existing firms’ share of the market control. References Dwivedi, D. N. (2012). Microeconomics. New Delhi, India: Pearson Education/Dorling   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Kindersley. Kemp, G. (2013). War with Iran: Political, military, and economic consequences. Lanham,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Maryland: Rowman & Littlefield Publishers Taylor, J. B., & Weerapana, A. (2012). Principles of microeconomics. Mason, OH: South-  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Western Cengage Learning Vives, X. (2001). Oligopoly pricing: Old ideas and new tools. Cambridge, Mass. [u.a.: MIT   Ã‚  Ã‚  Ã‚  Ã‚   Press

Globalization and International Business Essay

Introduction 1. The meaning of globalization * Broadly: the widening set of interdependent relationships among people from different parts of a world that happens to be divided into nations. * Narrowly: the integration of world economies through the elimination of barriers to movements of goods, services, capital, technology, and people. A. How Does International Business Fit In? * International business consists of all commercial transactions between two or more countries. The goal of private business is to make profits; Governments may undertake them either for profit or for other reasons. a. The Study of International Business * Most managers need to approach their operating strategies from an international standpoint. * Managers in almost any industry need to consider (1) where to obtain the inputs they need of the required quality and at the best possible price and (2) where you can best sell the product or service you’ve put together from those inputs. * Studying IB is important because (1) most companies either are international or compete with international companies, (2) the best way of conducting business may differ by country, (3) an understanding helps you make better career decisions, and (4) an understanding helps you decide what governmental policies to support. b. Understanding the Environment/Operations Relationship The Forces Driving Globalization * Globalization (1) has been growing, (2) is less pervasive than generally thought, (3) has economic and non economic dimensions, and (4) is stimulated by several factors. * The A.T. Kearney / Foreign Policy Globalization Index: some countries are more globalized than others, and a given country may be highly globalized on one dimension and not another. This index ranks countries across four dimension; * Economic – international trade and investment * Technological – Internet connectivity * Personal contact- international travel and tourism, international telephone traffic, and personal transfers of funds abroad * Political – participation in international organizations and government monetary transfers A. Factors in Increased Globalization a. Increase in and Application of Technology * Population growth, Economic growth * Innovations in transportation mean that more countries can compete for sales to a given market. b. Liberalization of Cross-Border Trade and Resource Movements c. Development of Services That Support International Business * Converting one currency to another, insurance d. Growing Consumer Pressures e. Greater Global Competition * Born-global companies: start out with a global focus because of their founders’ international experience and because advances in communications give them a good idea of where global markets and supplies are. * Clustering or Agglomeration: the situation in which many new companies locate in areas with numerous competitors and suppliers; they quickly learn of foreign opportunities and gain easier access to the resources needed for international moves. f. Changing Political Situation * A major reason for growth in IB is the end of the schism between Communist countries and the rest of the world. g. Expanded Cross-National Cooperation * To gain reciprocal advantages * To attack problems jointly that one country acting alone cannot solve * The resources needed to solve the problem may be too great for one country to manage; sometimes no single country is willing to pay for a project that will also benefit another country. * One country’s policies may affect those of others. * To deal with areas of concern that lie outside the territory of any nation * Three global areas belong to no single country: the non-coastal areas of the oceans, outer space, and Antarctica. The Costs of Globalization * Critics of globalization claim (1) countries lose sovereignty, (2) the resultant growth hurts the environment, and (3) some people lose both relatively and absolutely. A. Threats to national sovereignty * Sovereignty: its freedom to â€Å"act locally† and without externally imposed restrictions. a. The Question of Local Objectives and Policies b. The Question of Small Economies’ Overdependence c. The Question of Cultural Homogeneity B. Economic Growth and Environmental Stress a. The Argument for Global Growth and Global cooperation C. Growing Income Inequality and Personal Stress a. Income Inequality(disparity) * Challenge: to maximize the gains from globalization while simultaneously minimizing the costs borne by the losers. b. Personal Stress * The growth of globalization goes hand in hand not only with increased insecurity about job and social status but also with costly social unrest. Why Companies Engage in International Business A. Expanding Sales B. Acquiring Resources (R&D, Design) * Foreign sources may give companies (1) lower costs, (2) new or better products, (3) additional operating knowledge. C. Reducing Risk (Sales, Price swings) * International operations may reduce operating risk by (1) smoothing sales and profits, (2) preventing competitors from gaining advantages. Modes of Operations in International Business A. Merchandise Exports and Imports * The export and import of goods are the major sources of international revenues and expenditures. B. Service Exports and Imports * For non-merchandise international earnings, we call it service exports & imports. a. Tourism and Transportation b. Service Performance * Turnkey operations: construction projects performed under contract and transferred to owners when they’re operational. * Management contracts: arrangements in which one company provides personnel to perform general or specialized management functions for another. c. Asset Use * Licensing agreements: when one company allows another to use its asset such as trademarks, patents, copyrights, or expertise under contracts known as licensing agreements, they receive earnings called royalties. * Franchising: a mode of business in which one party (the franchisor) allows another (the franchisee) to use a trademark as an essential asset of the franchisee’s business. Royalties also come from franchise contracts. C. Investments * Dividends and interest paid on foreign investments are also considered service exports and imports because they represent the use of assets (capital). * Foreign investment means ownership of foreign property in exchange for a financial return, such as interest and dividends, and it make take two forms: direct and portfolio. a. Direct Investment(foreign direct investment, FDI) * Investor takes a controlling interest in a foreign company * When two or more companies share ownership of an FDI, the operation is a joint venture. b. Portfolio Investment * Non-controlling financial interest in another entity. * It usually takes one of two forms: stock in a company or loans to a company in the form of bonds, bills, or notes purchased by the investor. D. Types of International Organizations * Collaborative arrangements: companies work together in joint ventures, licensing agreements, management contracts, minority ownership, and long-term contractual arrangements. * Strategic Alliance: is sometimes used to mean the same, but it usually refers either to an agreement that is of critical importance to one or more partners or to an agreement that does not involve joint ownership. a. Multinational Enterprise (MNE) * Any company with foreign direct investments. * Multinational corporation or multinational company (MNC), Transnational company (TNC) in US. Why International Business Differs from Domestic Business External environment that may affect international operations. A. Physical and Social Factors * Any of these factors may require a company to alter its operation abroad (compared to domestically) for the sake of efficiency. a. Geographic Influences * Geographic barriers often affect communications and distribution channels. * Population distribution and the impact of human activity on the environment may exert strong future influences on IB. b. Political Policies * A nation’s political policies influence how international business takes place within its borders. * Political disputes particularly military confrontations can disrupt trade and investment. c. Legal Policies * Legal law: includes both home- and host-country regulations on such matters as taxation, employment, and foreign-exchange transactions. * International law: in the form of legal agreements between countries, determines how earnings are taxed by all jurisdictions. It may also determine how companies can operate in certain places. d. Behavioral Factors * The related disciplines of anthropology, psychology, and sociology can help managers better understand different values, attitudes, and beliefs. In turn, such understanding can help mangers make operational decisions abroad. e. Economic Forces * Economics explains why countries exchange goods and services, why capital and people travel among countries in the course of business, and why one country’s currency has a certain value compared to another’s. B. The Competitive Environment a. Competitive Strategy for Products: Products compete by means of cost of differentiation strategies, the latter usually by: * Developing a favorable brand image, usually through advertising or from long-term consumer experience with the brand; or * Developing unique characteristics, such as through R&D efforts or different means of distribution. b. Company Resources and Experience * A company’s size and resources compared to those of its competitors. c. Competitors Faced in Each Market * Success in a market (whether domestic or foreign) often depends on whether the competition is also international or local.

Hail Macbeth Essay

Hail Macbeth Essay Hail Macbeth Essay Macbeth The character of Macbeth is one of the most prominent and notorious personalities ever featured in any one of Shakespeare’s plays. Commonly labelled as a ‘tragic hero’, which is often made reference to in the play â€Å"For Brave Macbeth, well he deserves that name†, Macbeth is the perfect example of a man who is neither totally good nor totally evil and who finds himself caught up in a serious situation as a result of both psychological weakness and error in judgement. His gradual mental decline and ill-fated journey from well regarded, loyal soldier to corrupt, power hungry mad man makes him a character difficult to sympathize with. Yet audiences to this day find themselves fascinated with the inner workings of his chaotic mind, his initial reluctance to act on his powerful desire to become king and the way in which he is so severely pressured by Lady Macbeth into committing a deed which will ultimately lead to his untimely demise. The influence of the supernatural can be seen as the ‘beginning of the end’ for Macbeth. â€Å"All hail Macbeth, hail to thee, Thane of Glamis. All hail Macbeth, hail to thee, Thane of Cawdor. All hail Macbeth, that shalt be king thereafter† are three infamous lines spoken by the three witches which cause Macbeth to become trusting in fate and allow his yearning to become king overpower the reality of the situation. Being quite an ambitious man, Macbeth does not initially think to question the witch’s theories or the reasons behind why they are revealing this information to him. This selfish, unchecked ambition to rule is what triggers the evil intent in Macbeth and therefore his downfall. Macbeth’s unorthodox relationship with his wife, Lady Macbeth, is a major point of interest throughout the play. To friends, Macbeth is perceived as a great leader and dedicated soldier who would give up his life to protect his country, but when in the company of his wife, her power and influence over him is immense. Lady Macbeth’s desperation to become Queen of Scotland and her over-confidence about their plan causes Macbeth to commit to it without thinking of the severe consequences attached. In Lady Macbeth’s somewhat dramatic soliloquy in Act 1, Scene VII, she cruelly taunts Macbeth by questioning his manhood and will power, â€Å"which thou esteem’st the ornament of life, and live a coward in thine own esteem†. This is the final straw for Macbeth and from thereafter he becomes a man blinded by foolish ambition, a tyrant who will stop at nothing until he reaches his goal. Macbeth’s strong aspiration to become King of Scotland yet his unwillingness to fulfil the witches’ prophecies is the cause for the fierce internal conflict which occurs within him throughout the play. After receiving the witches prophecies, he is left unsure of what path to take and is caught between what he knows is morally right and the opportunity to have all of his wishes come true. Shakespeare uses these predictions to showcase Macbeth’s mental struggle between chance and fate and once the

Food and Agricultural Nanotechnology Essay Example

Food and Agricultural Nanotechnology Essay Example Food and Agricultural Nanotechnology Essay Food and Agricultural Nanotechnology Essay Introduction This survey uses grounds reappraisal of the literature, adept evocation, and systems kineticss attacks to analyze consumer credence of agrifood nanotechnology. This chapter hence gives a brief overview of the nutrient and agricultural systems and how nanotechnology interacts with the systems. Current and possible nutrient applications of nanoscience and nanotechnology ; stakeholder perceptual experience of emerging engineerings for agrifood merchandises ; overview of systems kineticss and systems patterning ; and overview of adept evocation, are discussed as a background to the survey. The chapter eventually discusses the theoretical foundation and model of survey Overview of Food and Agricultural Systems The possible applications of nanotechnology in the agrifood system were foremost addressed in 2003 in a roadmap published by the United States Department of Agriculture ( USDA 2003 ) . The anticipation was that the full nutrient supply concatenation would be affected by progresss in nanotechnology. Whatever the impacts of nanotechnology on the agrifood industry and merchandises come ining the market, consumer credence will be a cardinal driver ( Roco 2005 ) . Agribusiness by its nature is integrated to the solutions to most rising national issues, such as H2O direction, infective diseases, rural-urban migration, future energy supply concerns, land direction, the wellness shortage, desertification, clime alteration, and terrorist act, among other concerns ( AAFC 2006 ) . The connexion of agribusiness to these precedences has been categorized into the undermentioned wide subjects by the Science Bureau of the Agriculture and Agri-Food Canada ( AAFC 2006 ) : Public wellness, safety and security: The nexus between nutrient, nutrition, wellness and health ; and the safety and security of the capacity to bring forth nutrient Environmental sustainability and stewardship: Agricultural direction patterns that enhance environmental stewardship Energy: Direct coevals of energy from biomass ( e.g. bio-ethanol, bio-diesel, biogas ) and indirect coevals through bioprocess engineerings such as anaerobiotic digestion, pyrolysis, and gasification Global economic competition: The application of agribusiness scientific discipline and invention to back up the international fight and productiveness of farms and agri-industries. : Global agribusiness is in a province of flux despite its connexions to these precedences. Since the latter half of the twentieth Century it has undergone both structural and technological alterations ( AAFC 2006 ) . The agricultural system has become more amalgamate and larger in operational graduated table as a consequence of progresss in agricultural scientific discipline and engineering. This has led to reduced operational costs with each phase of the agribusiness system, and increased international competition ( AAFC 2006 ; Malik et Al. 2009 ) . Progresss in production methods and engineerings have led to diminishing trade good monetary values, partially due to flood. The ensuing diminution in net incomes additions force per unit area to bring forth more and to further cut down operational costs ( AAFC 2006 ) . This coiling consequence has resulted in important impairment in farm profitableness and sustainable growing. This has finally affected fight of the sector and the economi c viability of commodity-dependent communities. Industry stakeholders are discerning about a new age of urgency with the turning call for alteration to the industry ( AAFC 2006 ) . New cognition find and its application are portion of the solution. Agrifood nanotechnologies are in the frontier of this new cognition find and have been predicted to convey cardinal alterations to the agrifood industry. New cognition needs to fuel invention ( Bernstein A ; Singh 2008 ) that, in bend, affects every aspect of nutrient production, altering the manner nutrient is grown, processed, preserved, transported, distributed, and consumed, and this is the promise of nanotechnology in agribusiness. Overview of Agrifood Nanotechnology Nanotechnology is an enabling and a riotous engineering that has the possible to transform the full agribusiness and nutrient systems. Historically agribusiness has dealt with heightening nutrient safety and nutrient security by bettering the efficiency of harvest production, nutrient processing, environmental impacts of nutrient production, storage, transit and distribution. Nanotechnology can be used to turn to these historical concerns, and modern-day ends of nutrient defence. Agrifood systems security, bringing systems for disease intervention in workss and farm animate beings, fresh methods for molecular and cellular biological science, development of new stuffs for pathogen sensing and new ways environmental protection are illustrations of the importance of interplay of nanotechnology in the agrifood systems ( USDA 2003 ) . The applications of nanotechnology in agribusiness and the industry of nutrient merchandises come with its possible hazards. The U.S. is a clear leader in n anofood research and development ( R A ; D ) and nanotechnology research in general. Globally one million millions of dollars have been invested in nanotechnology research and applications in all Fieldss including medical specialty, rural H2O supply, energy, agribusiness, defence, biodiversity and environment. However, the degree and rate of investings varies across different states and legal powers. It has been predicted that by 2010, nanofood merchandises deserving $ 20 billion may be on the market ( Downey 2006 ) . If these tendencies should go on, nanotechnology is expected to go a premier driver and focal point of inventions in the agrifood system in the coming decennary ( Downey 2006 ) . Research and development is taking to 100s of agrifood nanotechnology applications and merchandises and there has been a reported addition of investings by many of the taking transnational nutrient and drink companies in these developments ( Garber 2007 ) . Food packaging is the taking agrifood nanotechnology application and presently nutrient packaging merchandises are the most available nanoproducts on the U.S. markets ( Asadi A ; Mousavi 2006 ; Downey 2006 ) . Nanomaterials are of peculiar significance and are being used to better the safety and quality of nutrient. Nanomaterials inhibit the flow of O and C dioxide by functioning as barriers ( Downey 2006 ) . Nanomaterials can besides be embedded in the packaging and engineered to observe and antagonize food-borne pathogens ( McHugh 2008 ) . Research is presently aimed at conveying the benefits of nanotechnology to society through apprehension and application of affair at the nanoscale. The initial aim to understand nanoscale phe nomena and procedures and to make nanomaterials led to a bustle of basic and cardinal research in the early phases of nanotechnology research. Although there is presently a passage from cardinal research to utile applications in nutrient, there is still a batch of basic research traveling on and the emerging translational research is confronting some major challenges that are pulling a batch of attending ( Bugusu 2006 ) . As stated earlier, the U.S. is presently the leader in research into nanofood applications. The USDA through the Cooperative State Research, Education and Extension Service ( CSREES ) supported and funded research plan on nanobased detectors and its assorted applications in the agrifood systems ( Bugusu 2006 ; USDA 2008 ) . Research on packaging and processing are besides being conducted by the nutrient industry. Some of the largest nutrient makers in the universe, including Nestle, Altria, H.J. Heinz and Unilever, are taking this attempt, while 100s of smaller com panies follow their lead ( Garber 2007 ) . Notwithstanding the possible benefits, compared with other nanotechnology applications and merchandises, nanofoods do non acquire a batch of promotion. The ramping argument over nanofood safety and ordinances has been reported to hold slowed the debut of nanofood merchandises as compared to other nanoproducts, but research and development continue to boom ( Garber 2007 ) . It is besides, interesting to observe that, most of the larger companies are maintaining their activities quiet for fright of public recoil ( Garber 2007 ) . Whereas the hazards associated with nanotechnology applications in other countries such as cosmetics and medical specialty, are every bit ill-defined, the public seems to be far less speedy to accept nanotechnology application when it comes to nutrient supply. Although the hazard associated with nanotechnology remains ill-defined, its possible to positively impact agribusiness and nutrient systems is huge in footings of nutrient merchandise safety and quality, and improved environmental and consumer wellness and health ( Bugusu 2006 ) . Kuzma and VerHage ( 2006 ) have extensively discussed the possible benefits and hazards of agrifood nanotechnology. Harmonizing to their study, there are several possible applications of agrifood nanotechnology in the countries of preciseness harvest and farm animal production. Nanomaterials being developed to heighten the precise usage of agro-chemicals are of peculiar involvement. An illustration is a nanotechnology-based pesticide under development that will merely go active when inside the mark insects ( Downey 2006 ) . Nanotechnology has the potency for supplying more efficient application of pesticides, fertilisers and other agro-chemicals to relieve poorness through improved nutrient security, land usage, and environmental sustainability ( Kuzma A ; VerHage 2006 ) . In relation to functional nutrients, the possible technology of nanomaterials to observe and barricade harmful substances in nutrient, such as unwanted cholesterin or allergens, from impacting the organic structur e will besides be extremely good. The development of nanomaterials that can selectively come in cell walls could convey important nutritionary and wellness benefits ( Downey 2006 ) . However, some of these nanomaterials are inherently different by their nature in footings of chemical responsiveness and physical belongingss from of course happening substances, and could hold unexpected side effects ( Downey 2006 ) . Current and Potential Food Applications of Nanoscience and Nanotechnology Nanotechnology is going progressively of import for the nutrient sector, and progresss are already being made in the countries of nutrient packaging and nutrient safety. The incorporation of nanomaterials into nutrient packaging is expected to better the barrier belongingss of packaging stuffs and should thereby assist to cut down the usage of valuable natural stuffs and the coevals of waste ( Sozer A ; Kokini 2009 ) . Edible nanolaminates may besides hold possible utilizations in encapsulation systems for environmental protection ( Chen et al. 2006 ) . These applications could be used in fresh fruits and veggies, bakeshop merchandises and confectionery, where they might protect the nutrient from wet, lipoids, gases, off-flavors and olfactory properties ( Sozer A ; Kokini 2009 ) . Naturally-occurring biopolymers and other biological molecules of nanosize graduated table, such as oligosaccharides or polyoses and proteins, can be used for the encapsulation of vitamins, prebiotics and probiotics preparations, and for drug-delivery systems or nutraceuticals ( Sozer A ; Kokini 2009 ) and as target-specific-recognition agents that could be used as biosensors in nutrients ( Tarver 2008 ) . These biosensors are envisaged to be used as sensors of pathogens and other contaminations in nutrient and for tracking nutrient merchandises to assist ease nutrient callbacks for illustration. These advanced devices and techniques being developed are to ease the readying of nutrient samples and their precise and cheap analysis ( Chen et al. 2006 ) . From this point of position, the development of nanosensors to observe micro-organisms and contaminations is a peculiarly promising application of nutrient nanotechnology. Nanosensors can besides be used in the preparation of nutrient additives such as spirits and antioxidants ( Chaudhry et al. 2008 ) . This is aimed at bettering the functionality of these additives while cut downing their concentration. Although nanotechnology has the possible to happen applications in the full nutrient supply concatenation, commercial applications of many of the methods are presently either excessively expensive or non executable ( Tarver 2008 ) . The most cost-efficient applications of nanotechnology in the nutrient industry are presently in the countries of fresh functional stuffs development, nutrient munition and preparations, nutrient processing at both micro and nano graduated table degrees, nutrient merchandise development, and storage A? ( Tarver 2008 ) . However, the pertinence of nanotechnology in the agrifood industry is certain to increase as research and developments continue to emerge. Consumer credence and the geographic expedition of regulative issues are the chief keys to the success of these promotions. Agrifood manufacturers, makers, every bit good as consumers could do considerable paces in environmental protection, nutrient safety, nutrient security and nutrient defence throug h nanotechnology applications ( Tarver 2008 ) . Stakeholder perceptual experience of emerging engineerings for Agrifood Merchandises Research workers interested in the factors responsible for consumer pick, purchase behaviour, and credence of nutrients processed by novel and emerging nutrient engineerings, such as nanotechnology, biotechnology, ionising radiation, pulsed electric Fieldss, and ultraviolet optical maser intervention, face disputing jobs ( Cardello 2003 ) . Optimizing the centripetal quality of these nutrients is of import to consumer credence and their success in the market topographic point as it is with most nutrient merchandises ( Siegrist 2008 ) . However, optimum centripetal quality, entirely, will non vouch consumer credence. This is because consumer perceptual experiences of nutrient quality do non depend entirely on the intrinsic centripetal features of the merchandise. Rather, they rely to a great extent on a host of factors that are extrinsic to the merchandise ( Cardello 2003 ) . Variables related to both the merchandise and the prospective consumer of the merchandise like contextual, cog nitive, societal, cultural and attitudinal factors are extrinsic to the merchandise. In the instance of fresh nutrients or nutrients that have been processed by novel or emerging engineerings, concerns about the nature of the nutrient and/or the nature of the processing engineerings that have been used to handle the nutrient, become paramount considerations for the consumer faced with pick and purchase determinations ( Cardello 2003 ) . It is by and large agreed that sensed benefit is an of import factor act uponing credence of new nutrients ( Frewer et al. 2003 ) . However, even though a figure of surveies have demonstrated the importance of sensed benefits for the credence of new nutrient engineerings, credence of fresh nutrient by consumers can non be reduced to it ( Siegrist 2008 ) and this is one of the motives for this survey. By and large, consumers see new nutrient engineerings as more hazardous than traditional nutrient engineerings ( Siegrist 2008 ) . Merchandise belongingss besides influence consumer credence of new merchandises. Gene engineering is good accepted for medical applications, but European consumers for case are hesitating to purchase GM nutrients ( Boecker A ; Nzuma 2007 ) . This clearly illustrates that credence of a new engineering may be influenced by belongingss and usage of the merchandise. Another factor related to the merchandise is the monetary value. A bulk of British consumers seems willing to buy GM nutrients if they are cheaper than traditional nutrients ( Spence A ; Townsend 2006 ) . On the whole, perceived naturalness seems to be an of import factor act uponing credence of fresh nutrient engineerings in add-on to comprehend benefits, perceived hazards, quality and monetary value ( Cox et al. 2006 ) . Consumers have really limited cognition of new engineerings, such as nanotechnology ( Cobb 2005 ) . As a consequence, most consumers are unable to make up ones mind whether new nutrients produced by such engineerings are associated with possible hazards. A manner people deal with deficiency of cognition is to trust on trust to cut down the complexness of determinations ( Siegrist 2008 ) . Some surveies have found that trust in establishments, or in scientists carry oning research on familial alteration or utilizing modified merchandises, is an of import factor act uponing perceptual experience of cistron engineering ( Siegrist et al. 2007a ) . Trust is said to hold an impact on sensed hazard every bit good as on sensed benefit and an indirect impact on the credence of, or willingness to purchase, GM nutrients. It has besides been postulated that attitudes toward new nutrient engineerings may be embedded in a system of general attitudes and values ( Grunert et al. 2003 ) . Peoples use semantically connected information for these appraisals and the rating of a new engineering has been found to depend on the constructs and images that are related to this new nutrient engineering ( Siegrist 2008 ) . Environmental attitudes have besides been found to hold a moderate influence on credence of cistron engineering ( Siegrist 2008 ) . Consumers hesitate to accept fresh nutrient engineerings and nutrients processed with emerging engineerings associated with potentially new hazards without any clear benefits. It is of extreme importance, hence, that consumers and the populace in general be informed and educated about possible benefits and hazards of fresh nutrient engineerings ( Siegrist 2008 ) . If a new engineering allows the debut of new and advanced merchandises with clear and touchable benefits, consumers are most likely to accept it ( Bruhn 2008 ; Siegrist 2008 ) . Successful merchandise development is driven by consumer demands, and consumer credence is a cardinal facet ( MacFie 2007 ) . The nutrient engineering used to make a merchandise may act upon consumers willingness to purchase it ( Siegrist 2008 ) . However, the nutrient engineering is less of import when the merchandise is extremely good and satisfies consumers demands. Consumers may non accept a new nutrient engineering when they are convinced that the engineering provides no extra value to them or to society and may merely hold advantages for manufacturers and the industry ( Siegrist 2008 ) . There are barely any negative public reactions to high force per unit area treating engineerings of nutrient although it has besides got its attender hazard and some degree of uncertainness ( Butz et al. 2003 ) . In contrast, other nutrient engineerings, such as cistron engineering, are non good accepted in Europe ( Gaskell et al. 2000 ; Boecker A ; Nzuma 2007 ) . Public credence is, nevertheless, an unfastened inquiry for other nutrient engineerings such as nanotechnology ( Siegrist 2008 ) , which has the possible to bring forth radically new nutrient merchandises and is progressively being employed in the countries of nutrient production and packaging ( Kuzma A ; VerHage 2006 ) . How the populace will respond to nanotechnology nutrient merchandises is, at present, ill-defined ( Siegrist et al. 2007a ) . In order to examine these and other inquiries, this survey is utilizing grounds reappraisal of the literature, experts sentiment, and systems mapping to analyze consumer attitudes towards agrifood nanotechnology. Overview of Systems Dynamics and Systems Modeling Harmonizing to Barlas ( 2008 ) the term system refers to world A? or some facets of world. He defined a system as a aggregation of interconnected elements, organizing a meaningful whole A? ( Barlas 2008 ) . It is common hence, to speak about a transit system, a fiscal system, an invention system, a societal system, a legal system, a political system, a health care system, a production system, a distribution system, an ecological system, an educational system, an agrifood system, or a biological system. Every individual one of these systems is made of different factors and belongingss interacting and linked in a eventful manner, so that the system on the whole can presumptively function its intents ( Barlas 2008 ) . Modeling A? is a normally used scientific attack for job designation and creative activity of solutions infinites. A theoretical account can be defined as a representation of selected facets of a existent system with regard to some particular job ( s ) A? ( Barlas 2008 ) . Therefore, theoretical accounts of systems, A? are non built, but theoretical accounts of selected facets of systems to analyze specific jobs are built. As with this survey, agrifood systems are non being built, non even agrifood nanotechnology systems, but merely a constituent with agrifood nanotechnology consumer credence. The chief factor that drives the usage of mold is a job. The term dynamic, in mundane usage, means in gesture or altering over clip and dynamic jobs have variables that change significantly over clip. System kineticss as a subject uses systemic feedback mechanisms to cover with dynamic policy jobs ( Barlas 2008 ) . Such jobs arise from the interactions between the different variables that characterize the system and from the feedbacks between the decision-making actions and the corresponding system s reactions. The chief end of a system kineticss survey is to place a dynamic job and to understand the causes of the job, and so hunt for policies that alleviate or eliminate those jobs ( Barlas 2008 ) . System kineticss patterning is a tool that can account for complex and dynamic characteristics of systems. It is in its babyhood for turn toing policy inquiries related to scientific discipline and engineering, yet it has been shown to be a powerful and edifying tool for concern determinations. System kineticss is an attack that allows for the apprehension of complex systems over clip. Whereas, most theoretical accounts are additive with get downing and end points, system kineticss sees the universe as it is, with non-linear and interacting parts that feedback to and impact each other. It uses basic constructs like stocks A? ( degrees of measures that change over clip and necessitate to be tracked ) and flows A? ( rates of alteration ) . System kineticss patterning is a tool which addresses complexness and incorporates feedback cringles in systems, and the consequences of system kineticss theoretical accounts have shown to be valuable in placing factors that affect results of pro cedures, plans, and determinations ( Sterman 2001 ) . The first usage of system kineticss patterning day of the months back to 50 old ages ago for industrial kineticss A? or determinations about concerns, work force, and merchandise markets ( Forrester 1958 ) . Since so, system kineticss has been used to foretell results of medical intervention, land, economic, lodging and environmental policy ( SDS 2007 ) . In several cases, research workers have been able to accurately foretell unintended effects of public policies through utilizing system kineticss believing, function and theoretical accounts, such as the unforeseen impact that low cost lodging plans increases unemployment ( Forrester 1969 ) . Many groups are utilizing system kineticss to develop systems theoretical accounts collaboratively with the multiple ends of bi-directional communicating and acquisition, public battle, and better word pictures of real-world system ( Stave 2002 ) . The agrifood sector extends from input supply industries and agribusiness to nutrient processing, nutrient distribution, and retail ( Porter 1998 ) . In the flow of merchandises throughout the value concatenation as shown in figure 2.1 the sequence of different phases of sourcing, production, processing, and distribution involved in the proviso of nutrient to consumers , the interrelatednesss between the histrions constitute a classical ? ?System Dynamics environment, which is characterized by procedures that incorporate feedback loops every bit good as sequences of causes and effects with possible clip holds in between ( Fritz A ; Schiefer 2008a ) . The interrelatednesss spans nutrient supply ironss where they might stay stable due to contracts or imposts or nutrient supply webs where interrelatednesss develop dynamically through altering trade relationships from within a web of different endeavors that are active at each one of the phases of the value concatenation ( Fritz A ; Schiefer 2008b ) . The web scenario, which is dominant in most of the sector, poses a specific challenge for research to originate and back up the necessary invention and development kineticss to guarantee merchandise features like nutrient safety, nutrient quality or nutrient beginning at the consumers terminal ( Thompson, 2007 ) . This dynamics go even more interconnected when one considers the multidisciplinary nature of nanotechnology and its applications in the agrifood system ( Please refer to calculate 1.1 ) . The systems kineticss package used in this survey is Vensim. Features include dynamic maps, subscripting ( arrays ) , Monte Carlo sensitiveness analysis, optimisation, informations handling, application interfaces, and much more A? ( Vensim A ; Acirc ; Â ® 2008 ) . System dynamics theoretical accounts consist of assorted sorts of factors with different variables interconnected by causal pointers. Conventionally stock variables or accretions are represented with a box. Flows A? go in and out of stocks and are responsible for commanding the rate of alteration in a peculiar stock over clip. The altering stocks so provide the dynamic alteration over clip in the overall system. System dynamics methodological analysis is widely applied in patterning and analysing supply concatenation behaviour under unsure environment ( Vo A ; Thiel 2008 ) . The nature of a system in system kineticss methodological analysis is demonstrated by causal cringle ( influence ) diagrams which describes the major feedback mechanisms ( Georgiadis et al. 2005 ) . These mechanisms are either negative ( equilibrating ) feedback cringle which displays a goal-seeking behaviour where after an break, the system tries to return to a province of equilibrium, or positive feedback ( reenforcing ) loops where initial break creates a subsequent alteration bespeaking an unstable equilibrium ( Vlachos et al. 2007 ) . Causal loop diagrams play two major functions in system kineticss: ( 1 ) they serve as the initial studies of causal hypotheses during theoretical account development, and ( 2 ) they are used for the simplification of how a theoretical account is represented ( Georgiadis et al. 2005 ) . The representation of a dynamic system theoretical account incorporates both stock ( province ) and flow ( rate ) variables. Stock variables are what is referred to as the accretions ( i.e. stock lists ) , within the system, while flow variables show the flows in the system ( i.e. order rate ) , which are the by-product of the managerial procedure. The theoretical account construction and the interrelatednesss among the variables are represented by stock-flow diagrams. The mathematical function of a system dynamics stock-flow diagram occurs via a set of differential equations, which are numerically solved via simulation ( Georgiadis et al. 2005 ) . Although there are fluctuations in attacks to a typical system kineticss study depending on the nature of the job and manner of the modeller, specific standard stairss are by and large followed ( Barlas 2008 ; Maani A ; Cavana 2000 ) : Problem designation and definition ( purpose ) ; dynamic hypothesis and theoretical account conceptualisation ; formal theoretical account building ( The formal simulation theoretical account is built during this measure ) ; model credibleness ( cogency ) testing ; analysis of the theoretical account ; and design betterment ( After to the full proving and understanding the belongingss of the theoretical account, the concluding measure is to prove policy options to better the kineticss of the theoretical account ) . In this last measure, policy options are formulated and so tested by running simulations ( Barlas 2008 ; Maani A ; Cavana 2000 ) . In this survey, as portion of job designation and theoretical account building, adept evocation and grounds from the literature were used to bring forth the needed information. Overview of Expert Elicitation The term expert has non been defined utilizing any quantitative step but has been used to depict any single or group of individuals whose current or past Fieldss are in the country of survey, and who is/are seen as being more knowing about the topic ( Cooke A ; Goossens 2004 ) . Adept designation for a peculiar topic implies acquiring persons or individuals whose country of work or pattern is in that peculiar capable country and whom others regard as knowing. Although adept cognition is non a certainty it has ever played a big function in scientific discipline, engineering and technology and it is used within certain degree of assurance, acceptableness or grade of belief ( Van der Fels-Klerz et Al. 2002 ) . There is a wide acceptableness of adept judgement as merely another type of scientific informations, and methods are progressively being developed for handling it as such ( Goossens et al. 2008 ) . Adept sentiment is on a regular basis sought when proficient uncertainness or ambiguity impacts on a determination procedure ; and beging adept advice in such instances is non new ( Aspinall 2008 ) . Historically, it has been approached on an informal footing, and it has neer been found wholly fulfilling or immuned to legalize unfavorable judgment, by all stakeholders ( Aspinall 2008 ) . To avoid these defects, a well-designed expert judgement evocation is designed to handle adept sentiments as scientific information in a formal determination procedure by subjecting the whole procedure to transparent methodological regulations ( Aspinall 2008 ; USEPA 2009 ) . Assorted methods for arousing and measuring experts judgement and uniting adept uncertainness are available in the literature and have been used in pattern ( Morgan et al. 2001 ) . The simplest and the most preferable method in the absence of a better alternate, is to take all expect tonss to hold equal weight ( Cooke A ; Goos sens 1999 ) . Although this attack has an obvious entreaty, it has its jobs. An expert with a really strong divergent sentiment from the other experts can hold a immense impact on the resulting decision. This becomes a critical issue if this expert s appraisals can non be decently explained ( Hoffmann 2006 ) . However, as more and more experts are brought into the survey, the weight of the mark of an single expert tends to go rather diffuse. Another job associated with adept evocation is the systematic certitude exhibited by both experts and non-experts ( Morgan et al. 2001 ) . That is, given their cognition ; their subjective chance distributions tend to be excessively narrow A? ( Morgan et al. 2001 ) . After the set of experts has been identified as portion of the procedure, a determination is made as to which experts to utilize in the survey. In most surveies, the largest figure of experts is chosen based on the degree and handiness of resources ( Cooke et al. 2000 ) . Experts used in some old noteworthy surveies have been within the scope of 5 20 ( Linkov et al. 2006 ; Morgan A ; Henrion 1990 ) . Harmonizing to Cooke et Al. ( 2000 ) a panel of eight experts is to be recommended as a regulation of pollex ; and in any event, at least four experts for a given topic should be chosen A? . The usage of experts names is another repeating issue in the literature. The general consensus nevertheless, is that adept names and associations should be portion of the published study but single experts should non be associated by name with their appraisals ( Cooke A ; Probst 2006 ; USEPA 2009 ) . Based on several different grounds, the association should b

Reading Comprehension When Applying for a Job

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Effective Sales Management Essay Example | Topics and Well Written Essays - 2250 words

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Can qualitative research be valid and reliable Essay

Can qualitative research be valid and reliable - Essay Example This is because without the help of this guideline we cannot determine whether when standard procedures are used to analyze data, will result to inferences that are biased. This suggests that it only by understands the activities in data generation process that will enable one produce a valid explanatory inference. Kirk and Miller (1985:25) state that most methodologies used in qualitative research come in package with a range of reliability checks but none with validity. Therefore, social science relies almost completely on methods that are used to assure reliability considering that ideal validity is not achievable in theory. This idea is based on the fact that all measurement is to some extent are suspect because all measuring instruments cannot be perfectly controlled. This brings an argument that the tool used to measure in a research is closely related to the subject under observation and to that; it is apparently providing applicable data. According to Silverman (2006:43), it is not to be assumed that the only way to ascertain the validity of qualitative research is through the use of techniques used in quantitative research. Other attempts have been made to establish qualitative investigations validity. The decision of which observation is to be selected in qualitative research, is very critical for the conclusion of the study and to the degree its product’s determination and its reliability. Many opportunities are present that permit bias to interrupt our selection methods. This is because often selection conditions in qualitative research are implicit and made with no self conscious challenge to assess possible biases. Many sources of biases are invited when randomness is abandoned during selection (King, Keohane and Verba, 2001:128). According to Silverman (2006:279-89), reliability in the context of qualitative research has been related to the generation of a measurable concept. This implies that consistently recording of observations is a re liable method. Similarly, researchers believe that reliability is the dependability of the degree of consistency. Having pointed out that, researchers use a variety of methods when collecting data such as interviews, participation and documents among others to collect their observations hence creating a consistent record of observations (Rubin and Babbie, 2010). Though opinions vary regarding the degree of reliability that can be addressed in qualitative research, there is a sound interpretation by Silverman that need to be considered. When measuring a concept by construct validity, the measure of a concept is related to another concept’s measure whereby the two concepts are said to be related, illustration of construct validity is done in this way. This involves a researcher to specify that the two concepts are related (Ragin, Nagel and White, 2004). This implies that when the measures are related, each measure has construct validity of the other but if they are not related then there is no construct validity. Measures lack face validity if good reasons emerge to question the correlation of the measure to the concept under study. This measure of validity is

Children Education through Playing Research Paper

Children Education through Playing - Research Paper Example There are a number of ways that educators could effectively use play in teaching children. Â  Since games allow students to think individually, then innovativeness is one of the most effective ways of teaching children by using play. Allowing students to take part in a game during the learning process allows them to be innovative in their thinking. This not only expands their thinking capacity, it also leads to a high level of creativity. The more students engage in play, the more they become innovative while developing ways and means of succeeding in the game. The outcome improves the knowledge of the child, which helps in improving their performance standards (Sandford, et al., 2006). Â  The building plays collaboratively between the teachers and their students is another way in which teachers could use play in teaching their students. Building a model together in class engages the students, making learning more fun and entertaining. This also improves the socialization between educators and their students in the class. Due to personal or domestic problems, some students find it hard to cope with others in the class. This contributes to a high number of shy cases among the students. However, shy people show tremendous improvement whenever engaging with their teammates during a game. This helps them overcome their shy nature. Â  Using music is an example of how educators can effectively teach their students. According to Jarvis (2002), music affects students directly. The fact that music leads students into the world of fantasy and imagination significantly contributes to the increase in their cognitive ability, and thus remembering more. The importance of music is evident from the effectiveness of the use of music between public and private schools.

Philospher Friedrich Nietzsche Essay Example | Topics and Well Written Essays - 1250 words

Philospher Friedrich Nietzsche - Essay Example Since Nietzsche was clearly concerned with the question of whether good and evil exist in the world, Zarathustra is a natural focus for his attention. In considering the question of suicide, the first chapter where Zarathustra comes down from the mountain is significant: from his lofty position, "Zarathustra wants to become man again" (Nietzsche, page 122). The old man criticizes him: "You lived in your solitude as in the seaAlas, would you now climb ashore Alas, would you again drag your own body" (Nietzsche, page 123). This is a question of life and death - Zarathustra, who has been free of his mortal shackles, now returns, to drag his own body. The spiritual and physical separation of Zarathustra is an example of the living and dead being: at the beginning of the book, Zarathustra has most clearly chosen life. Moreover, he has decided that God, or the spiritual side, is "Dead", i.e., that only the physical self exists. "All beings so far have created something beyond themselves; and do you want toeven go back to the beasts rather than overcome man" (Nietzsche, 125). The soul and the body are not equal, and to believe in life af ter death is to deny current life "Do not believe those who speak to you of otherworldly hopes!...Despisers of life are they, decaying and poisoned themselvesso let them go" (Nietzsche, page 125). What Nietzsche appears to be saying here is that those who focus upon life-after-death, to the detriment of the physical present, are no different from suicides, who also long for death (for different reasons); Nietzsche seems to condemn both as poisonous to other men. He also attacks them later, in "On the afterworldly": "It is not in afterworlds and redemptive drops of blood, but in the body, that they too have most faithbut a sick thing it is to them, and gladly would they shed their skins. Therefore they listen to the preachers of death and themselves preach afterworlds." (Nietzsche, page 145). Those who hanker after the afterworld, the life-beyond-death, are too fond of their bodies to let go, but at the same time, their desire to continue with their lives leads to an obsession with d eath, and life after death, that denies the very body they admire. Those who wish to live on after death are followed in almost biblical procession by those who despise the body. Nietzsche is very sarcastic about these teachers: "I would not have them learn and teach differently, but merely say farewell to their own bodies - and thus become silent" (Nietzsche, page 146). He contrasts the self with the body: "Your self itself wants to die and turns away from life" (Nietzsche, page 147). The chapter which criticizes "The Preachers of Death", again suggests that those who despise the body are suicidal: ""These are the preachers of death; and the earth is full of those to whom one must preach renunciation of life" (Nietzsche, 156). He uses very withering sarcasm, seeming to cut back their ideals to the basic premise: "The earth is full of the superfluous; life is spoiled by the all-too-many. May they

Starbucks Business Strategy Case Study Example | Topics and Well Written Essays - 2750 words

Starbucks Business Strategy - Case Study Example This research paper will be broadly divided into three sections which will be titled as background, analysis and conclusion. The objective of the research paper will be fulfilled in these three sections and along with that relevant conclusion will be also drawn. In the first segment, i.e. background the study seeks to highlight clear and detailed overview of pertinent information from the case and outside resources that describes the industry and the organizations and key players involved. The external sources that will be used are generally books, journal articles and authentic electronic sources. In the analysis section, the study seeks to scrutinize the course concepts and along with that identifies and discusses the main strategic issues facing the industry and organizations, such as external environment, internal situation, and strategic fit. Hence, in order to carry out this section, the study will be emphasizing on the external as well as the internal environment of the organi zation. In the last section of the study, the study would be highlighting the important points and will also describe about the ways the situation can be improved. Technically, Starbucks should fall in the beverage industry, but since they also market various other food products, they are adjudged to be a part of the restaurant industry. As the economy continues to improve, a significant wave of change is being moved through the restaurant industry. This has redefined how the companies have grown operated and managed risks. The robust technological development has been the key driver for this change and has provided companies with the opportunity to explore new business techniques. The impact of technology in the US restaurant industry has also been positive as it allowed them to be more efficient and enhance the overall productivity. The US restaurant industry has emerged as one of the major industries of

Philospher Friedrich Nietzsche Essay Example | Topics and Well Written Essays - 1250 words

Philospher Friedrich Nietzsche - Essay Example Since Nietzsche was clearly concerned with the question of whether good and evil exist in the world, Zarathustra is a natural focus for his attention. In considering the question of suicide, the first chapter where Zarathustra comes down from the mountain is significant: from his lofty position, "Zarathustra wants to become man again" (Nietzsche, page 122). The old man criticizes him: "You lived in your solitude as in the seaAlas, would you now climb ashore Alas, would you again drag your own body" (Nietzsche, page 123). This is a question of life and death - Zarathustra, who has been free of his mortal shackles, now returns, to drag his own body. The spiritual and physical separation of Zarathustra is an example of the living and dead being: at the beginning of the book, Zarathustra has most clearly chosen life. Moreover, he has decided that God, or the spiritual side, is "Dead", i.e., that only the physical self exists. "All beings so far have created something beyond themselves; and do you want toeven go back to the beasts rather than overcome man" (Nietzsche, 125). The soul and the body are not equal, and to believe in life af ter death is to deny current life "Do not believe those who speak to you of otherworldly hopes!...Despisers of life are they, decaying and poisoned themselvesso let them go" (Nietzsche, page 125). What Nietzsche appears to be saying here is that those who focus upon life-after-death, to the detriment of the physical present, are no different from suicides, who also long for death (for different reasons); Nietzsche seems to condemn both as poisonous to other men. He also attacks them later, in "On the afterworldly": "It is not in afterworlds and redemptive drops of blood, but in the body, that they too have most faithbut a sick thing it is to them, and gladly would they shed their skins. Therefore they listen to the preachers of death and themselves preach afterworlds." (Nietzsche, page 145). Those who hanker after the afterworld, the life-beyond-death, are too fond of their bodies to let go, but at the same time, their desire to continue with their lives leads to an obsession with d eath, and life after death, that denies the very body they admire. Those who wish to live on after death are followed in almost biblical procession by those who despise the body. Nietzsche is very sarcastic about these teachers: "I would not have them learn and teach differently, but merely say farewell to their own bodies - and thus become silent" (Nietzsche, page 146). He contrasts the self with the body: "Your self itself wants to die and turns away from life" (Nietzsche, page 147). The chapter which criticizes "The Preachers of Death", again suggests that those who despise the body are suicidal: ""These are the preachers of death; and the earth is full of those to whom one must preach renunciation of life" (Nietzsche, 156). He uses very withering sarcasm, seeming to cut back their ideals to the basic premise: "The earth is full of the superfluous; life is spoiled by the all-too-many. May they

Turning Points in History Essay Example | Topics and Well Written Essays - 500 words

Turning Points in History - Essay Example An in-depth analysis of the political scenario that was shaped by the assassination of President Kennedy suggests that for a considerable time, United States continued to suffer from political turmoil. The Vietnam War flared up and brought many displeasing results for America. Why were the events immediately preceding the turning point necessary and essential in preparing for the turning point? Events preceding the assassination of President John F Kennedy were essential because they threatened the interests of many ruling powers. President Kennedy was restructuring the CIA to deprive the capitalist cabal of the ability to spread terrorism, both locally and internationally. The ruling powers would not be able to handle the economy if President Kennedy lived and restructured the Federal Reserve System. Another potential reason of the assassination of President Kennedy was that he had resolved to quite the war in Vietnam which the ruling powers were using as a tool to make profits thro ugh sale of weapons. All of these events flared up the urge to get President Kennedy out of the way of mean ruling powers so that they may practice their malevolent plans and evil machinations.

Sample Final Exam Essay Example for Free

Sample Final Exam Essay The company currently has earnings per share of $8. 25. The company has no growth and pays out all earnings as dividends. It has a new project which will require an investment of $1. 60 per share today (at time zero). The project will increase the earnings by $0. 40 per share indefinitely starting one year after the investment. Investors require a 10 percent return on XYZ stock. Assume the firm just paid the dividend of $8. 25 yesterday. a) What is the value per share of the company’s stock assuming the firm does not undertake the investment opportunity? 5 pts) b) If the company does undertake the investment what is the value per share now? (10 pts) c) What will the value per share be 3 years from now? (5 pts) Solution: a) P = Dividend / R = 8. 25 / 0. 1 = $ 82. 5 b) NPVGO = (-1. 60 + 0. 40 / 0. 1) = $ 2. 40 So the stock price will be: 82. 5 + 2. 40 = 84. 90 c) (8. 25 + 0. 40) / 0. 1 = 86. 5 Question 3 – Portfolio Variance Suppose the expected returns and standard deviation of stocks A and B are E(Ra) = 0. 13, E(Rb) = 0. 19, ? a = 0. 38, ? b = 0. 62 respectively. ) Calculate the expected return and standard deviation for a portfolio that is composed of 45 percent A and 55 percent B when the correlation coefficient between the returns on A and B is 0. 5 (10 pts) b) How does the correlation coefficient between the returns on A and B affect the standard deviation of the portfolio? (3 pts) c) Provide a range for the correlation coefficient where we obtain diversification benefits. (i. e, The portfolio standard deviation is less than the weighted average of the individual standard deviations of the stocks? ) Provide a range where we don’t have diversification benefits. 3 + 2 pts) d) For some values of correlation coefficient, we can achieve a portfolio standard deviation of almost zero. TRUE or FALSE? ( 2 pts) Solution: a) The expected return of the portfolio is the sum of the weight of each asset times the expected return of each asset, so: E(RP) = wAE(RA) + wBE(RB) E(RP) = . 45(. 13) + . 55(. 19) E(RP) = . 1630 or 16. 30% The variance of a portfolio of two assets can be expressed as: ([pic] = w[pic]([pic] + w[pic]([pic] + 2wAwB(A(B(A,B ([pic] = . 452(. 382) + . 552(. 622) + 2(. 45)(. 55)(. 38)(. 62)(. 50) ([pic] = . 20383 So, the standard deviation is: (P = (. 20383)1/2 = . 4515 or 45. 15% b) As Stock A and Stock B become less correlated, or more negatively correlated, the standard deviation of the portfolio decreases. c) corr lt; 1 (strictly less), corr = 1 d) TRUE Question 4 – CAPM and SML Suppose that you observe the following information. Assume these securities are correctly priced. Beta Expected Return XYZ Corp: 1. 4 0. 150 ABC Corp: 0. 9 0. 115 a) What is the risk free rate and the expected return on the market? 3 + 3 pts) b) What is the expected return on an asset with a beta 1. 6? (4 pts) c) What is the beta on a portfolio consisting of 30% XYZ, 30% ABC, 20% risk free asset and 20% market portfolio? (5 pts) d) If a security has beta 1. 8 and expected return 18%, is this security above or below SML? Over or under priced? ( 2 + 3 pts) Solution: a) Here we have the expected return and beta for two assets. We can express the returns of the two assets using CAPM. If the CAPM is true, then t he security market line holds as well, which means all assets have the same risk premium. Setting the reward-to-risk ratios of the assets equal to each other and solving for the risk-free rate, we find: (. 15 – Rf)/1. 4 = (. 115 – Rf)/. 90 .90(. 15 – Rf) = 1. 4(. 115 – Rf) .135 – . 9Rf = . 161 – 1. 4Rf .5Rf = . 026 Rf = . 052 or 5. 20% Now using CAPM to find the expected return on the market with both stocks, we find: .15 = . 0520 + 1. 4(RM – . 0520). 115 = . 0520 + . 9(RM – . 0520) RM = . 1220 or 12. 20%RM = . 1220 or 12. 20% b) 5. 20% + 1. 6 (12. 20% – 5. 20%) = 5. 20% + 11. 20% = %16. 40 c) 0. 30 * 1. 4 + 0. 30*0. 9 + 0. 2*1 +0. *0 = 0. 89 d) According to SML 5. 20% + 1. 8 (12. 20% 5. 20%) = 5. 20% + 12. 60% = 17. 80%. The security is above SML. It is underpriced. Question 5 1). For a multi-product firm, if a projects beta is different from that of the overall firm, then the:Â  (4 pts) A. CAPM can no longer be used. B. project should be discounted using the overall firms beta. C. project should be discounted at a rate commensurate with its own beta. D. project should be discounted at the market rate. E. project should be discounted at the T-bill rate. 2). Jacks Construction Co. as 80,000 bonds outstanding that are selling at par value. Bonds with similar characteristics are yielding 8. 5%. The company also has 4 million shares of common stock outstanding. The stock has a beta of 1. 1 and sells for $40 a share. The U. S. Treasury bill is yielding 4% and the market risk premium is 8%. Jacks tax rate is 35%. What is Jacks weighted average cost of capital? (8 pts) A. 7. 10% B. 7. 39% C. 10. 38% D. 10. 65% E. 11. 37% Re = . 04 + (1. 1 ( . 08) = . 128 Debt: 80,000 ( $1,000 = $80m Common: 4m ( $40 = $160m Total = $80m + $160m = $240m [pic]

Project Management and Hemas Holdings

Project Management and Hemas Holdings 1.1 Introduction on the Project Management and Hemas Holdings FMCG.   Ã‚   Project Management can be expressed as the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. Project Management has its long history which was practiced informally and has been officially recognised and emerged in mid of the 20th century in distinctly.   The global body for project management which is Project Management Institute USA facilitate the concept and it is comprehensively explained in the Project Management Body of Knowledge (PMBOK ® Guide) further (PIM, 2017). In meeting successfulness of the project, it is vital to understand and plan the project cycle. Project cycle is the key concept which is discussed massively in the subject of Project Management and it has been acknowledged as the methodical sequence of cohesive set of tasks which are quantified, accomplished in stages, in ensuring the success of the project (Forsberg, 2005). Hemas Holding PLC, with a renowned history of 65 years, has become a key blue chip company diversified in to five main sectors. The sectors are namely FMCG, Health care, Leisure, Transport (logistic) and other. Hemas FMCG serving the Sri Lankan customer base via its wide range of products and services. The group seized a strategic moving to the next level through the acquisition J.L. Morison Son Jones (Ceylon) PLC. Also as a move in managed succession plan, Hemas invited Mr Steven Enderby to the Board offering the position of Chief Executive Officer. The flag ship products such as Baby Cheramy the Hemas brand has won the Sri Lankan mothers loyalty for nearly 60 years (Hemas Annual Report, 2016). 1.2 Project requirements. The purpose of upgrading SAP 6.0 HANA to SAP S4 HANA at HEMAS FMCG sector was to enhance the Enterprise Resource Planning (referred to as ERP going forward) culture within the organisation. The rapidly growing business which pumps the highest revenues portion which is 38% needs to be fully monitored (Hemas Annual Report, 2016). The controls needs to be well set and deviations need to be reported in a timely manner.  Ãƒâ€šÃ‚   Figure 1 FMCG Sector Vs. Group performance 1.3 Hemas FMCG strategy and feasibility of the ERP project. Hemas founded under the vision of Enriching Lives and they do focus on it heavily. Hemas history has shaped the ways and means that is se the potential. The consistent effort in generating organic as well as inorganic growth had positively impacted on enriching the value of the Hemas stakeholders today. The ERP project implementation will help the organisation to be well aligned to its Vision 2020, concept and there five-year strategic plan (Hemas Annual Report, 2016). The advancement in terms of the SAP 6.0 will allow the HEMAS FMCG sector to cater to the customer requirements and to meet demand. This would decommission most of supporting systems bring all them under one system in an advance tech platform. 1.4 SAP 6.0 to SAP S4 Feasibility study. The project on HEMAS FMCG, SAP 6.0 HANA upgrade intends further improvements in to the EPR that they operate at the moment and this system upgrade will managed by the global SAP Functional team and the handing over will happen to the   Hemas Corporate IT. The creation of blue print copy will be done by this team and also hey will do the pilot run planning and monitoring at FMCG sector offices located in Colombo (Head Office), Dankotuwa (Factory and Walisara (Finish good warehouse).   Hence upgrading ERP in Hemas FMCG will be driven by the experienced global SAP team which will be and also will be facilitated by Attune Lanka. Attune is the local consultant for SAP implementation and upgrades. Attune has shown is positive track records in SAP related projects. The company is very experienced in SAP implementation which is attached to MAS group. Attune with its localized experience they support the implementation and upgrade tasks locally while connecting the procedures with the global consultants and the locally based end users. The SAP S4 Project needs be sponsored with US $1.5 Mn and this is forecast base on number of operators involved in the Sri Lankan operations. The approximate costing was carried out based on similar projects which were carried out for different agency offices. The Hemas group will be funded the full project which will be repaid to the group by the FMCG sector in 5 years time. This is possible as the Revenue growth % is at 20.2% for 2016 (Hemas Annual Report, 2016). 2.1 Statement of work (SOW) Hemas FMCG sector SAP 6.0 HANA Upgrade to SAP S4 will have the following critical areas as per the Statement of work. Scope of work Upgrade of SAP ERP will bring in all the functions such as Demand Planning team, Material Requisition team, Procurement, Stores, Quality Assurance, Finance, Marketing and HR. Currently HR is not integrated within the ERP but with SAP S4 HANA the Hemas FMCG will be fully integrated. Since the data is currently is the same platform the integration will not be complex and time consuming. Following will be the main functions which will enjoy the facilities of the system upgrade. Demand Planning Material planning Procurement OP (Purchase Ordering) process Production Production planning Stores/ Warehouse GRN (Goods Receive) and stock control Quality Assurance Quality check and release Raw material Finance General Ledger and Financial reporting Marketing and distribution- Releasing the Finish goods to the market Project duration/ Budget The expected time for the upgrade is 6 months starting form upgrade, pilot run and handing over. This will include the initial test run as well as most critical go live phase. The total SAP S4 upgrade is spitted in to phases for the monitoring and control purpose. The funds need to be allocated to manage the cost and expenses. Hence a budget is allocated separately which is USD 1.5 Mn. SAP S4 Project time lines SAP S4 HANA Gantt chart on Deliverables Key deliverables of the project The key goal is to successfully upgrade the SAP 6.0 HANA in to the SAP S4 HANA. Hemas FMCG Sector intends to integrate the Human Resource (HR) function also to the ERP which in not at present. The SAP S4 platform will enhance the integrity and will improve the communication which will be faster and safer in an email based operation. Efficiency improvements will occur in the eventuality. Responsibility and authority The SAP Upgrade Project team headed by the Hemas FMCG sector Project Manager will be the ultimate responsible party where as all team member of the project team will have an equal portion of the responsibility to deliver the a successful SAP upgrade. Mainly the time lines and the level of success will be monitored and the budget needs to be managed. The SAP Upgrade Project manager will be appointed by the Hemas FMCG Sector management were the member form each functional are will be added to make the presence and brining in ideas to meet the specific expectations of the project. The project manager focus is to monitor the project with the assistance of the functional consultants. Attune Lanka will be responsible for the realizing the project in meeting expected results. In order to make the project a success the Project manager needs to be provided with Resource in terms of Human Capital as well as knowledge, equipment and funds. Scope will provide necessary guide line which the project team will follow where the excellent level of leadership will drive the team live for its results. According to Laufer, it is clear that comprehensive understanding of the project via clear scope will facilitate the Project Manger to monitor the deadlines and cost factors ensuring no overrun in the two elements (Laufer, 2012). Project planning, phase monitoring, releasing the resource on time actions on deviation and contingency palling are critical elements. Communication gaps needs to be narrowed down where keeping the entire set of stake holder on the same page with updated information. 2.2 Work Breakdown Structure of the SAP S4 HANA upgrade project. The project at Hemas FMCG sector on SAP ERP 6.0 HANA upgrade to S4 HANA will flow through 6 months which is starting form the Project Kick off team formation to Go-live signoff. The total project can be broadly split in to key 5 areas which are clearly shown within in Project Life Cycle (PLC) as below. Scope definition Understanding the goal of the project is vital which happens in this stage. The GAP analysis will facilitate the stakeholders to understand Where are we and Where we need to go. The basic planning comes in handy whereas project time lines and resource identification and finalisation occur. Project SAP S4 planning After the resource are finalised the deliverables will be clearly defined and responsibilities of each and every member of the team will be explained recorded and with authority levels to act upon. Planning and Segregation duties will be performed by the Project manager which needs to be rolled out with proper decision making and leadership. Execution control Monitoring and control of the SAP project is while the project is on the go is a staple action needs to be taken during this stage. Basically implementation, review and control occur ensuring schedules are on track. Deviations needs to be monitored and problem solving and decision making plays a major roll during the session. Also the updated information needs to be reported to key stakeholders at the Hemas FMCG Sector. Project evaluation In terms of evaluation the testing is carried out as in the execution stage the project is on-going and controlled to meet the desired outcomes. The testing is carried out by deriving reports where the Test Data in faded to the system and checked against the previous report whether the output is correct and process is smooth. All testing results and outcomes needs to be kept in documented form and the progress will be reported Completion Focusing on the Project Life Cycle this is the last stage of the project, where an assessment is done against actual and expected outcomes. The delivery of the project results and handing over the project is occurred. The experience and the leanings of the overall project are identified via a post completion audit and the points are recorded to be used in future projects. The explanations for any deviations of the SAP S4 HANA upgrade will be reported with actions taken. As per Allen, the final user acceptance testing needs to be carried out and performed during completion stage and results needs to be checked and verified against project plan (Allen, 2004). Work Break down structure for the SAP S4 HANA upgrade project can be developed as provided below. The work is divided in to main five phases considering the project life cycle. The sub tasks are the reflector of the main ones. 3.1 Network Diagram The success of the project is what everyone intends. The priorities of each project are different to each other. The Network diagram represents the priorities that need to be in the SAP upgrade project demonstration the sequence of the activities allowing the Project management team to focus on the critical path which project should flow. Having the network diagram and understanding the critical path of activities create more visibility about the tasks processed and in the same time tasks can be managed in order to assist utmost vital tasks of the entire project which cannot be compromised at any cost (Young, 2000). In order to identify the dependencies between the activities the below predecessor table needs to be prepared. Then the Network Diagram will be drawn based on the predecessor table where the Project team will engage in following tasks. Gathering necessary resources the right team Identifying each sub tasks which supports the key task Putting the tasks in the sequence (along with dependencies) Allocating sufficient time for each of the tasks Calculating the least possible time for the most time consuming will identified as critical path finally. Calculate the earliest completion and latest completion times Finalise and review the diagram via a brainstorming session 3.2 Network diagram Critical Path These two are popular terms discussed in Project management which facilitate the project deadlines demonstrating the time frames in graphical for. 4.1 Proposed budget for the project. The cost factor is critical for any project as SAP upgrade. The budget needs to be managed by the project management team. When there are low budgets and restriction it will hinder the progress and the success of the SAP project. A well-managed budget helps to manage the funds and to optimal utilisation of resources. Also even the ultimate responsibility is to manage the budget is with the Project manager, the each and every team member needs to make sure that the tasks they are working on are operating and activated on time were the time factor can make a huge effect on the Budget if it gets dragged. Experienced gained form prior project related to implementation or upgrade will help the project manager and his team in ascertaining the spending patterns. . This specific project on SAP system upgrade will not be that tough as the SAP ERP 6.0 is already running live at the Hemas FMCG sector from 2005. During the progression of the project if the team decides that resource needs to be enhanced additional resources needs to be allocated which will result in Budget expansions. 4.2 Cost distribution plan SAP upgrade. The cost distribution plan demonstrates that the cost or rather the expense level at each stage of the project. This can be broken into weeks. Total spending against the each phase spending can be recognised via the cost distribution plan. Any deviation in the project which occurs subsequently will require additional funds to be spent. The cost distribution plan ensures that the organization is exactly planning the expenditure and the timing of the cost in the most appropriate manner. Hemas FMCG sector SAP S4 upgrade can be shown via the Cost distribution plan as below. (Values in USD 000s). There can be any type of the Project but Project quality management engages with all the controls and monitoring with regard to the quality of the project, as that aspect it expected by all the stakeholder as a key result of the project. The aspect of Quality Management can be discussed as follows. Level of Customer Satisfaction The project goal in to get derive the project goals and to witness the advantages of the project. Mostly a project is carried out to fulfil the customer requirements. When considering the SAP S4 HANA system the upgrade form SAP 6.0 HANA, the end users expect to enjoy the latest facilities in deriving report with more information, processing activities faster, more integration, user friendliness etc. Also since the HR will also get integrated to the Hemas FMCG sector operation via the system upgrade will result in a fully-fledged SAP experience in the eventuality. Continuous Enhancement The competition is at another level as is immense in the modern era. There is no time to relax. An ERP system facilitates the entire operation of the organisation to   it will help the continuous improvement in terms of Total Quality Management (TQM) and concepts such as Zero Defects, Six sigma. The Hemas FMCG sector had a growth of 23% against 2015 financial year, and will be growing at a rate. Hence the sector needs more focus in the improving continuously (Hemas Annual Report, 2016). Prevention over examination The cost of quality measurements are considered under this whether it is discussed that precautionary actions will help the organisation to succeed. This can be further discussed as cost of conformance and non-conformance. Basically the system upgrade in to SAP S4 will help Hemas FMCG to further look in to prevention and examinations while to operations grow at a rate. 5.1 Quality Assurance The topic of Quality Plan describes the identification of quality requirements of the projects and ensures the project is carried out within the quality boundaries. The output of a proper quality plan will be quality management plan, quality metrics and the fact of quality enhancements which is also known as process improvements plan. Quality Assurance can be broadly defined as the plan and systematic actions executed in a quality system in order to ensure the quality requirements for a specific product or service will be fulfilled. When considering the quality assurance techniques cost benefit analysis, cost of quality, benchmarking, control check lists and Fish borne diagrams are discussed. Cost of Quality The expenses that occur in Quality Management process is discussed in detail where and more focus will be to Prevention cost as that can be managed internally via improvements whereas Appraisal cost in external which the customers of Hemas FMCG get to know. Benchmarking Comparing the SAP 4S at Hemas with another organisation which is already will allows the project team and the stakeholder to identify how the system upgrade is and the success rate. What is to be learnt and how Hemas FMCG could improve the performance of the overall organisation. Flow charts The flow chart represents the sequence of the project progress in a graphic manner. Also this enables the SAP S4 project team to visualize the associated points and processes of the upgrade. Key decision points are identified via the chart and close monitoring can be done based on the identified facts. 5.2 Quality Control After the completion of the Project the Quality control mechanism takes place focusing on principles of the quality assurance. Quality control check is vital action that needs to be taken to verify whether the output of the project of SAP S4 system upgrade has been executed without any deviations from the original plan. The completed project will not have any advantage of this as this is an audit done upon post completion however the learning point of the upgrade project can be carry forward to make sure the future projects are performed with more care and control (Project Management Institute, 2017). The Risk Management plan is another crucial factor of a project as this facilitates in identification of risk of the specific project, assessing the risk and mitigating the risk. The risk exposure of the Hemas FMCG sector can be identified as follows. Risk identification Lack of high level of integrations HR functions separately Low level of requirement gathering and understanding No having sufficient knowledge by the end user on tacking the SAP S4 HANA Incomplete user acceptance procedure Lack of proper testing by the end user Risk of not completing in 2017 Q4 as planned Risk of budget over run in terms of cost and time 6.2 Risk assessment The risk exposures will help the risk assessment. This needs to be done with the comprehensive understanding of rick level and probability of occurrence. The practicality will also need to be counted in assessing the risk. Prior knowledge in SAP 6.0 HANA implementation occurred in 2005 will be useful in upgrading the existing ERP system at Hemas FMCG sector to the next level which is SAP S4 HANA. Maintenance of a risk register along with the risk assessment is the responsibility of the project team where the information needs to be shared in a frequent manner with the relevant parties in order to eliminate risks as much as possible to ensure the success of the SAP S4 upgrade project. Proper documentation and monitoring is important. SAP S4 HANA upgrade at Hemas FMCG identified risks in the risks identification phase will be utilised in processing the risk assessment as below. 6.3 Risk mitigation plan Risk mitigation is all about taking action for the per-identified risks and taking prompt action to diminish the negative impact which arises from them based on the priorities identified via the risk assessment. The Risk identified needs to address as below. Lack of high level of integrations HR functions separately The HR function not being integrated to the system leads to communication gaps. Hence the risk of brining in HR function Low level of   requirement gathering and understanding The risk of not gathering important information on the requirements will change the scope and having a reasonable level of braining storming with members form all the function will mitigate the risk. No having sufficient knowledge by the end user on tacking the SAP S4 HANA It is pointless having sophisticated systems if the end users do not know how to use them. Ultimately the investment will be just another useless project. The end users need to be given proper training which motivates them to use the system frequently without any fear. Incomplete user acceptance procedure All the users are required to accept the system via proper documentation. This is important is change management as smooth the users needed to get shifted to the new system in an appropriate way. Lack of proper testing by the end user This needs to be mitigated by running several test runs and 100% accuracy test which is the only method to do so. Risk of not completing in 2017 Q4 as planned Project plan execution at its best will remove any risk in delaying the project. The project team needs to coordinate well and execute the actions on time as agreed. Any deviations need to be communicated clearly with prior hand allowing the Project manager to take precautionary actions. Hemas financial year ends by 31st March 2018 and the on time completion will allows the Hemas FMCG to do a parallel run in the SAP S4 HANA. Risk of budget over run in terms of cost and time Budget needs to be managed as that has being agreed after a proper analysis which is USD 1.5 Mn. The perfect execution of project plan will mitigate this risk. Also having a supplementary budget for contingency will always help. Communication which leads to lot of issues due the gaps is the procedures. There is a paramount importance of proper communication for the success of the project. As per the SAP upgrade in Hemas FMCG sector there are key stake holders including Project team, management of FMCG sector, group IT, group Internal Audit team, shareholders etc. who needs to be managed with proper information. Hence communication plan will help to execute that smoothly. Sound level of communication needs to be handled by the project manager by himself and which will be replicated the project team member in the eventuality (Kliem, 2007). Communication plan needs to be equipped with, Standard format and levels of communication The modes which are intended to use Calls, Meetings, Memos, and Conference Calls etc. Responsibility of communication flow Frequency   of the and the activities which is communicated formally and informally How to fulfil the requirements of stakeholders in terms of communication. Timing and controls. In managing the communication requirements of the SAP S4 upgrade the below communication plan can be utilised. Hemas FMCG Sector SAP ERP system upgrade will be a challenge as the success of the project has a major impact to the Group as FMCG sector is the key revenue generator with 38% contribution. The challenges and the complexities can be managed via comprehensive understanding and smooth function of the project management methodology. The said project team need to be armed and equipped with necessary resources and skills to ensure a success of the upgrade project. It is a very critical move that the management decided by cultivating the idea of the SAP system upgrade. The intended results can be achieved as the report emphasise the face of on time quality deliverable in all the tasks of the full project. As mentioned above the leadership of the Project manager and the active participation of the team members are also critical as they are the driving force of the SAP upgrade process in to SAP S4 HANA in Hemas FMCG Sector. Also following proper quality plan, risk management plan and communication plan project team will be more prepared to possible issues that may arise in the project.