New Historicist Reading of Christina Rossetti's Goblin Market Research Paper

New Historicist Reading of Christina Rossetti's Goblin Market - Research Paper Example Examining the different parts of the story and creating a relationship to society and the Victorian Era then establishes a stronger understanding of what was occurring during this time frame. The poem is one which not only develops historical understanding of the time, but also is associated with contradictions and perspectives that were deeply rooted in the Victorian Era. History of Goblin Market The poem of â€Å"Goblin Market† was written from 1830 – 1894 as a part of the Victorian Era. During this time frame, there were several changes which were occurring in society, specifically in relation to building a modern style society. The society was influenced with new developments in science, industry and technology. These new developments led to associations with politics, specifically with countries that were trying to expand and dominate by opening the countries to global trade and expansion. The politics were based on creating a sense of imperialism, domination and c olonialism over other countries while creating a power structure that was identified with the sense of domination. As this occurred, many began to be influenced by imperialist and bourgeois thought, including changing social status through differences in wealth, gender, ethnicity and overall identity. The main influences during the Victorian Era were then noted with contrasts to the literature of the time (Mcgann, pg. 237). The several changes which were occurring in the Victorian Era led to the main approach which was taken by Rossetti in writing the poem. The focus was to target two types of readers. One was defined by children and the other adults. The poem was able to be read from these two perspectives, one which worked like a fairy tale to tell a moral of a story. The second perspective was based on the viewpoints of adults who had sold into and bought the fruit of the men, or goblins of the time. From this perspective, the goblins became a representation of the social class d ivisions, imperialist nature and other aspects that were related to the dangers of the time. These various approaches to the poem were able to show a specific representation to the culture of the time while both audiences which read the poem were able to carry a different viewpoint and ideal which was associated directly with the time frame and the historical changes which were occurring (Kooistra, pg. 249). Economic History in Goblin’s Market The several approaches which are a part of the reading of â€Å"Goblin’s Market† are not only associated with the general political history and attitudes during the time. There is also a relationship to society and the basic perspectives which were considered during this time. A main concept which was approached was based on the social viewpoint toward economy and wealth as well as how this created division within the Victorian society. The ideal of consumer power comes through the two sisters and their desire to have the fruit and to continue to have the goblin fruits. This was associated with the economy of desire which was created at the time, specifically with the introductions of industry, economy and the taking over of other nations. The morality of economic space as well as the basis of capitalist production which came from the goblins was the two main components which were associated with this. The idea of falling into temptation with the consumption and the need to continue to h

Contiuum of Care Bibliography Annotated Example | Topics and Well Written Essays - 250 words

Contiuum of Care - Annotated Bibliography Example There is a description of the various stakeholders and the components of the continuum of care, therefore, making it relevant to use when making the presentation. They also discuss how the component contributes to or detracts from the general administration of health care resources. They also depicts that at the community level, combination of medical and supportive services is the best way of enhancing continuum of care. Wilson, A., Whitaker, N., & Whitford, D. (2012, May 31). Rising to the Challenge of Health Care Reform with Entrepreneurial and Intrapreneurial Nursing Initiatives. The Online Journal of Issues in Nursing, p. 2. It is another reliable source of information about the continuum of health care especially in U.S The reason being that Wilson, Whitaker and Whitford (2012), explicitly describes the three dimensions of healthcare and the contribution of each to the continuum of care i.e. primary, secondary and tertiary. Wilson, Whitaker and Whitford (2012), discusses the services provided and how these services fit the continuum of care. Wilson, Whitaker and Whitford (2012), shows how this delivery component and services need to change to meet future trends and labels the characteristics of an integrated delivery system making it relevant to the study of this topic. According to Haggerty et al. (2003), the perception and veracity of continuity of care cut across both organizational and disciplinary boundaries. The collective definitions delivered here should assist healthcare providers appraise continuity more meticulously and enhance communication. Policy charters and reports in the whole world urge a strenuous effort to boost continuum of care. The presentation would not be complete without the use of this article. Best (2010), outlines educational advances for adaptive work roles and aspects of educational research to lighten issues for the future geriatric well-being and oral

A wireless solution for a sporting goods company Research Paper

A wireless solution for a sporting goods company - Research Paper Example Retrieved December 05, 2012, from http://www.att.com/network/ 22 Executive Summary At the present, the majority of organizations use computers to carry out their day to day tasks. In this scenario, they use computers to collect, process, and store business and customer related data and information. However, when the size of business increases they need many people to carry out these tasks simultaneously. For this purpose, they build a network of computers in the firm. In a computer network, computers are connected with each other. They can share data and resources with each other. There are different ways and technologies that can be adopted to implement a computer network. In this scenario, wireless networks is a latest form of networking. Some of the other categories of wireless networking are: WLAN, 3G, 4G, WiFi, WiMax and various other standards and tools. They offer wonderful services and facilities to personal life and business areas. Hence, seeing these advantages of wireless networks the management of the Athlete’s Shack (TAS) has decided to implement new Wireless technology based WLAN. The major aim of the Athlete’s Shack (TAS) is to enhance overall corporate credibility and develop better performance based arrangement at a corporation. Introduction I have been hired as a technology consultant at Wireless Technology Company (WTC). WTC Company helps organizations and businesses resolve issues regarding network planning and design. I have been asked to write a report to propose a wireless networking solution for the Athlete’s Shack. In this report, I will present a detailed analysis of WLAN architecture for the Athlete’s Shack (TAS). This project (the implementation of the WLAN at Athlete’s Shack (TAS)) will involve implementing a wireless technology that will connect all of its stores through wireless broadband service, installing WLANs at each store, and providing its employees with iPads for better customer service. Additionally, TAS is unsure how to start this process. Thus, they have hired the services of our firm for completing this project. This report will discuss various aspects of wireless network design and its implementation. This report will also discuss the issues involved in this project. Problem Situation The Athlete’s Shack (TAS) runs its business through a chain of sporting goods stores. In the past few years, TAS has got massive popularity and now it has 10 stores in the area. Before, TAS was running its business through manual and traditional means. Additionally, the technology based systems and tools were used at a very small level. In this scenario, all the stores of the Athlete’s Shack were completely disconnected from each other. Hence, they required a solution that can better support and facilitate the corporate operations and dealings. TAS was facing the following problems through traditional ways: Lack of communication Lack of data security Redundancy of da ta Complex management of business operations Less hold/control of management Long term processing cycle Difficult order processing cycle No centralized

Ummary of the New Testament Term Paper Example | Topics and Well Written Essays - 1250 words

Ummary of the New Testament - Term Paper Example Love, which is the focal message of the Bible is widely discussed by the different authors and explicated in various ways. Warnings are given to the audiences about the end of the world, the second life and the doom of evil men in the gospels and discuss at large the kingdom of heaven or the famous millennial reign of Jesus in the book of Revelation written by John the beloved or the apostle. The gospels written by Matthew and Luke narrate the immaculate conception of Jesus through the virgin maiden named Mary, who was at that time engaged to be married to Joseph. Thoughts of breaking away from her silently because of the shame the circumstance could bring them were not implemented by Joseph because of his vision of an angel who explained to him that the baby Mary bore was from the Holy Spirit so instead he married her. Isaiah 7:14 gives this prophecy and was reiterated in Matthew 1:23. As popularly depicted during Christmas season, Mary and Joseph had to travel to Bethlehem for the census ordered by Caesar Augustus for the entire Roman world (Luke 2:1-7). This is referred as the fulfillment of the prophecy in Micah 5:2 as echoed by Matthew in chapter 2 verse 6 saying, â€Å"But you, Bethlehem, in the land of Judah, are not the least among the rulers of Judah; for out of you shall come a ruler who will shepherd My people Israel†. The baby was borne and was named Jesus whose last record of his childhood was when he was found at the temple questioning and sharing with the teachers the word of God. While the aforementioned gospels started their narration from the birth of Jesus, Mark and John the apostle meet up with them in the start of Jesus’ ministry only giving a few lines to trace back the objective of the Savior’s coming to the world with the introduction of John the Baptist. After Jesus was baptized, He was led to the wilderness to be tempted by the devil (Matthew 4:1-10, Mark 1:9-13, Luke 4:1-13) and when he successfully overcame the t emptations, He went back to His town and started performing miracles, the turning of water to wine being the first of them (John 2:1-11). Other miracles which have been discussed as well in the four books like the healing of the sick, driving out of demons from possessed people, raising of the dead and feeding of many people. The most famous of which is the feeding of the five thousand from the lunch box of a young boy which contained two fishes and five loaves of bread, found in all the gospels (Matthew 14:13-21, Mark 6:31-44, Luke 9:10-17, John 6:5-15). The most important objective of the four gospels is the reason why Jesus came to this earth, that is, to die on the cross so that the sins of men will be forgiven. After calling his twelve disciples and training them, performing many miracles, teaching and preaching the word of God for three years, Jesus was condemned to die by the teachers of the law, accusing him of blasphemy, claiming to be God because He claimed to be the Son o f God. Judas, one of His disciples betrayed Jesus for thirty pieces of silver to the chief priests and sent the soldiers to the Mount of Olives for His arrest. Jesus was then brought to Caesar for his conviction and was sentenced to death which started His sufferings

Cultural Self-Assessment Assignment Example | Topics and Well Written Essays - 1250 words - 1

Cultural Self-Assessment - Assignment Example In this paper I will be looking at cultural self –awareness and the role it plays diversity competence. Every individual’s cultural background is very unique and important as it actually moulds our societal outlook. Various factors of cultural background come into play to influence the overall outcome of individuals in terms of cultural competence and outlook on society. The kind of setting out was brought up in is very influential in shaping their outlook on society. The environmental we grow up and live in, social-economic background, parental influence, culture and educational attainment are important factors within cultural background that roll into play to shape our outlook on society. Religion is another very important factor of cultural background shaping what we become in life as well as the outlook we take on society. The schools we go to, the neighbourhoods and the church we go to during childhood all influence what we became later in life. I personally was born and raised in Kuwait and indeed having left my home country to study abroad has actually taught me a lot in terms of cultural diversity. As a freshman in college I have to interact with fellow students from different parts of the world and a lot of cultural exchange takes place. I have learnt to appreciate the importance of cultural diversity and this is because I now realise that the world has a myriad of cultures and therefore expecting to live, work with or learn with just your own culture in the modern world is tantamount to cultural incompetence. Cultural competence training for me is therefore a very important aspect especially considering that I am a student in effect a future leader. Appreciating others, respecting their cultural identities, learning from them and embracing cultural diversity is what I want to achieve. I therefore value cultural competence and it is for the

Characteristics of Macbeth and Lady Macbeth Essay Example for Free

Characteristics of Macbeth and Lady Macbeth Essay I am writing about the play called Macbeth. Macbeth is a play written by Shakespeare based on the lines of a true story, about Macbeth changing his whole personality throughout the play. He has many obstacles on his way up, from being king. Lady Macbeth, started in the play, very brave cunning and immoral, and felt that Macbeth was too moral and good-willed. She forced him to do many things in order for him to gain the title in the throne. As she helped him however, she became very self-conscious and ended up killing herself through guilt. At the beginning of the play, Macbeth was brave and loyal to king Duncan, and Duncan thought greatly of him. Duncan quoted Brave Macbeth- well he deserves that name in; act 1 scene 2. He also quoted The service and the loyalty I owe, / in doing it, pays itself. In act 1 scene 3. In these quotations, it shows that Macbeth is known as brave- even others think he is. He does not expect to be paid; he only does things for loyalty. This shows that he is moral, and is polite to everyone and is popular and liked by pretty much everyone around him. However, Lady Macbeth feels he is too nice for his own good. Macbeth had strong moral values, and never agreed to murder someone in order to get himself a claim in the throne. Lady Macbeth quoted do I fear thy nature, it is too full othmilk of human kindness, in act 1 scene 5. This is showing that Macbeths own wife thinks he is too kind to do anything evil- the milk represents that he is natural and pure of heart, whereas Lady Macbeth is not, she is evil. At the end of the play, Macbeth seems brave, but too brave, almost insanely brave. Lady Macbeth does end up persuading Macbeth to kill Duncan, which turns Macbeth evil, and makes his own plans on killing other people, in order to make him self the highest and the place on the throne. Macbeth says I have almost forgotten the taste of fears in act 5 scene 5. This shows him to be over confident and does not fear anything. The witches predictions, which appeared at the beginning of the play, and gave, correct predictions every time, said that Macbeth cannot be killed by any man born of woman and when Burnham wood comes to his castle. This makes him feel that he cannot be defeated. His wife, Lady Macbeth, commits suicide as she became so full of guilt, but when he found out, he seemed that he doesnt seem to care much about lady Macbeth as he says She should have died hereafterlifes but a walking shadow, a poor player/ That struts and frets his hour upon the stage in act 5 scene 5. This seems to indicate that he does not care about anyone besides himself, and that he is selfish. He compares life to being in a theatre, he doesnt think he is going to die, hes like the actor, and thinks he knows exactly what is going to happen next. However, Macbeth is very wrong, as he comes face to face with reality, as Macduff and his army come to Macbeths castle, and Macbeth is told that Macduff is not born from woman, but he was a caesarean. Macbeth then becomes slightly worried. Macbeth still puts on a strong hard battle, but Macduff defeats him. Lady Macbeth At the beginning of the play, Lady Macbeth was a lot stronger and evil than Macbeth. She was more like the man of them both, and she always tried to make Macbeth stronger. She said to Macbeth Unsex me here/ and fill me from the crown to the toe top full/ of direst cruelty. Here, she I trying to say, make me more manly- she is asking to be filled with cruelty, so she can make Macbeth to have the title of the throne. She is trying to show that she will do anything bad in order to fill her ambitions. She is not maternal. Lady Macbeth was very good at being misleading, as she acted innocent in front of Duncan, but behind his back, she was plotting to get Macbeth to murder him. She says to Macbeth, look like thinnocent flower, but be the serpent udert. She is saying to be like a deadly flower, looks innocent but will snap at any unpredictable and unexpected moment. The serpent represents evil and temptation; in which, Macbeth has to have. After Macbeth and herself finally murdered Duncan, she begins to feel very guilty and insecure. She had many nightmares of when she murdered Duncan. One night when she started sleep walking, in act 5 scene 1 she said what will the hands neer be clean?, she is still left with the stains of her actions. This shows her feminine side breaking through. She was being constantly reminded of when her hands were covered in blood; her dreams are showing her that she does not have a clean conscience. Lady Macbeth becomes very ill, and emotionally mental. She has many more nightmares, which shows a shadow of her old self. She quoted in one of her nightmares, Old damned spotHell is murky. Fie, my lord, fie, a soldier and afeared. She is here, cursing the blood; she now has anxiety over everything. She spoke in short sentences, showing her being not at all confident, creating a tense atmosphere. The use of repetition in questions to her husband when she slept talked showed her anxiety. Throughout the whole of this play, the two characters seemed to have almost switched placed. Macbeth grew courageous and confident after killing Duncan and felt he was undefeatable, while Lady Macbeth became disillusioned and emotionally mental, after her first murder encounter. Macbeth became too full of him self and felt he was immortal. The play created very tense and frightening atmospheres and had a strong storyline, which became clearer further on through the play.

Primark Internal and External Analysis

Primark Internal and External Analysis There are lot of internal and external factors which may influence the performance of Primark. Over recent years, this topic has come up as the most asked question in Business and Economics lessons.   Specifically, is it ethical to buy low priced goods produced in poor countries?   My personal answer is an emphatic yes.   Its hard to see how our refusal to open some markets to free trade particularly in agriculture helps the worlds poor.   But the debate seems to hinge on the rights, conditions and dignity of the producers.   For this reason, retailers like Primark (who like Tesco find themselves on the front line of this debate because of their public profile) seek to anxiously protect their reputations as ethical employers.   Recently Primark has fired three Indian suppliers because they used child labour to finish goods. The suppliers sub-contracted smaller firms, which were using child labour to carry out embroidery and sequin work. A Panorama special on Primark will be broadcast on BBC1 at 9pm on 23 June: during their six-month investigation, the BBC uncovered the evidence which they passed to Primark. The information provided by the BBC enabled us to identify that illegal sub-contracting had been taking place and to take action accordingly à ¢Ã¢â€š ¬Ã‚ ¦ the sub-contracting involved home working and in some instances children were also found to be working at home.   We take this lapse in standards very seriously indeed. Under no circumstances would Primark ever knowingly permit such activities, whether directly through its suppliers or through third party sub-contractors. According to Primark, the garments affected accounted for 0.04% of the retailers worldwide sourcing. It currently has more than 170 stores and made a  £200m profit in 2007 on total sales of more than  £1.6bn. Primark: An Overview Primark Stores Limited is an Irish clothing retailer. Its stores are located in various regions like United Kingdom, Ireland, and Spain. Within this area of responsibility, Primark stores outnumbered other clothing retailer business, with one hundred sixty one stores overall distributed in three major regions: one hundred twenty-five in the United Kingdom, thirty-four in Ireland and eight in Spain. The company positions itself as marketing fashionable at cutthroat prices.   The original clothing store was established by Arthur Ryan and his collaborator Micaela Mitchell in Dublin Ireland in 1969. After various success in clothing business, great profits and gross income led them to open stores in local and regional areas. It acquired various premises in different business centers within its local and regional areas which eventually generate more profits and income. Primark is known for selling clothes at the budget end of the market. Its success is based on sourcing supply, making clothes with simple designs and fabrics and targets young, fashion-conscious individuals ages 35 below, offering them simple yet high quality clothes and apparels. Hence, these successes brought significant changes on Primarks retail business. The relevance of global trends and consumers demands on lifestyle made Primark Store Limited reinvent its business scheme and management structure. Primarks management and business structure As a famous clothing retail store, recently, Primark embarks in different retail products not only restricted on manufacturing clothes but also other related products such as apparels and accessories available to all human sizes. Primark employs simple managerial operation on its stores structure. Each store has its own manager responsible in overseeing the status and business operations. With managers inherent authority, they are given the power and control to manage the store within his/her point of responsibility. Moreover, in smaller or larger branches, assistant and deputy managers are assigned to control and manage the store. Within the store, there are different subdivided departments in which a manager is assigned like senior department managers and junior department managers who are in charge for individual departments. Moreover, under management, there are supervisors in charge of staff on a sales floor, on different departments like stock room staff, customer service staff, customer service desk, cashiers who work on the tills, cash office staff and staff responsible to look after fitting rooms. This management and business structure posits a simple way of managing human labour force, however, simple it may seem, yet inevitably creates serious problems and issues if and when proper assessment of the structure will be undervalued. Analysis on the internal and external environment of Primark retail industry The Primark clothing retail industry is a member of Ethical Trading Initiative, a collaborative forum bringing together businesses to work on labour rights issues in their supply chains. In fact, Primark developed ethical strategy in order to promote labour rights issues within its organization. Certain guidelines and code of conduct must be defined in relation to the ethical implications of work to human labour rights. Primark, initiated and defined its ethical trade strategy in 2006, focusing on assessment of employees working conditions, factories operations concerns and addressed necessary improvement. Primarks annual report of activity should be passed to the Ethical Trading Initiative Board. Moreover, Primark stands to a principle that shared learning and collaboration is one of the most successful ways to achieve sustained positive progression with its suppliers factories. However, climate change within and outside Primarks environment changes as it faces the challenges posed by the global business market. Using PESTLE and SWOT analysis, let us examine the ins and outs environment of Primarks retail clothing industry. The PESTLE analysis allows us to examine the external factors affecting the environment of an organization while SWOT analysis aids us to assess organizations internal strengths and weaknesses and further identify threats and opportunities external to its environment. Hence, these methods are helpful for us to understand and underline positive and negative factors affecting the external and internal environment of an organization like Primark. In assessing the political, social, and economic factors external to the environment of Primark, we must consider different issues. Primarks business operations are subject to government policies and regulations. The business firm should conform to the set of policies and regulations stipulated and enforced by the government and policy making body while conforming to the set of regulations and policies, the firm should assume social responsibility as demanded by the global consciousness. Nowadays, business sectors no longer busied themselves to produce bonds of profits and income but deeply involved in social programs to promote social awareness and equality. Cultural and social behaviors of different consumers are important to consider when establishing or venturing business in the global landscape. Furthermore, economic, environment, laws, and technology are inseparable entities in which influence the business operations. The economic stability of certain region can contribute allot to the business condition of certain firm, like Primark. Technology on the other hand, brought a tremendous effect to the status and development of business operations and marketing programs. It generates new trends in a rapid movement, which if organizations are unaware will impede growth and development. Hence, Primarks must constantly assess its strategy with consideration to its PESTLE as external factors that in one way or the other affects its internal and business operations. Assessing the strengths, weaknesses, opportunities, and threats of Primark, we go back to its established management or business structure. The need for re-tracking the management or business structure is important in analyzing its SWOT. As to my knowledge upon my encounter with Primarks business operations, its strengths are gained in its simple, systematic and organized business structure, having assigned proper authorities to proper positions. Moreover, its recognition for valuing high quality of products and quality services with its customers garnered more strength to attract more people. On the other hand, Primarks weaknesses can be found in its way of managing people. Although, Primark is a member of Ethical Trade Initiative, study shows given different negative issues concerning its business operations and transactions like child labour, purports less value on ethical matters. Different issues were attacking Primark concerning exploitation and abuse on labour force, other env ironmental concerns, poor working conditions, and disvaluing workers rights. Primark in different surveys was labelled as a fashion industry with oppressive regime. The primacy of autocratic and rigidity on standard structures can be a weakness as well as threats to the life of the company. Since, it goes globally, opportunities are in wide array not only on the part of venturing into regions with much income and profit to gain but also an opportunity to share and provide quality products to fashion-conscious people with vogue to fashion lifestyle. Conclusion Given this analysis we come to realize that each organization has its own external and internal problems to handle. The process in which we enable to identify and analyze such problems is by using proper management method of analysis like SWOT and PESTLE. The importance of these methods is squared to the importance of the business itself. No.2: discuss the various business strategies that firms can implement to take Advantage of different markets or trading blocks? For this purpose Porter has proposed his generic strategies which are the best to implement, in my point of view, to take advantage of different markets. These strategies are given as below. Segmentation strategy Differentiation strategy Cost leadership strategy Michael Porter has described a category scheme consisting of three general types of strategies that are commonly used by businesses to achieve and maintain competitive advantage. These three generic strategies are defined along two dimensions: strategic scope and strategic strength. Strategic scope is a demand-side dimension (Porter was originally an engineer, then an economist before he specialized in strategy) and looks at the size and composition of the market you intend to target. Strategic strength is a supply-side dimension and looks at the strength or core competency of the firm. In particular he identified two competencies that he felt were most important: product differentiation and product cost (efficiency). He originally ranked each of the three dimensions (level of differentiation, relative product cost, and scope of target market) as either low, medium, or high, and juxtaposed them in a three dimensional matrix. That is, the category scheme was displayed as a 3 by 3 by 3 cube. But most of the 27 combinations were not viable. Porters Generic Strategies In his 1980 classic Competitive Strategy: Techniques for Analyzing Industries and Competitors, Porter simplifies the scheme by reducing it down to the three best strategies. They are cost leadership, differentiation, and market segmentation (or focus). Market segmentation is narrow in scope while both cost leadership and differentiation are relatively broad in market scope. Cost leadership strategy This strategy involves the firm winning market share by appealing to cost-conscious or price-sensitive customers. This is achieved by having the lowest prices in the target market segment, or at least the lowest price to value ratio (price compared to what customers receive). To succeed at offering the lowest price while still achieving profitability and a high return on investment, the firm must be able to operate at a lower cost than its rivals. There are three main ways to achieve this. The first approach is achieving a high asset turnover. In service industries, this may mean for example a restaurant that turns tables around very quickly, or an airline that turns around flights very fast. In manufacturing, it will involve production of high volumes of output. These approaches mean fixed costs are spread over a larger number of units of the product or service, resulting in a lower unit cost, i.e the firm hopes to take advantage of economies of scale and experience curve effects. For industrial firms, mass production becomes both a strategy and an end in itself. Higher levels of output both require and result in high market share, and create an entry barrier to potential competitors, who may be unable to achieve the scale necessary to match the firms low costs and prices. The second dimension is achieving low direct and indirect operating costs. This is achieved by offering high volumes of standardized products, offering basic no-frills products and limiting customization and personalization of service. Production costs are kept low by using fewer components, using standard components, and limiting the number of models produced to ensure larger production runs. Overheads are kept low by paying low wages, locating premises in low rent areas, establishing a cost-conscious culture, etc. Maintaining this strategy requires a continuous search for cost reductions in all aspects of the business. This will include outsourcing, controlling production costs, increasing asset capacity utilization, and minimizing other costs including distribution, RD and advertising. The associated distribution strategy is to obtain the most extensive distribution possible. Promotional strategy often involves trying to make a virtue out of low cost product features. A cost leadership strategy may have the disadvantage of lower customer loyalty, as price-sensitive customers will switch once a lower-priced substitute is available. A reputation as a cost leader may also result in a reputation for low quality, which may make it difficult for a firm to rebrand itself or its products if it chooses to shift to a differentiation strategy in future Differentiation strategy Differentiation is aimed at the broad market that involves the creation of a product or services that is perceived throughout its industry as unique. The company or business unit may then charge a premium for its product. This specialty can be associated with design, brand image, technology, features, dealers, network, or customers service. Differentiation is a viable strategy for earning above average returns in a specific business because the resulting brand loyalty lowers customers sensitivity to price. Increased costs can usually be passed on to the buyers. Buyers loyalty can also serve as an entry barrier-new firms must develop their own distinctive competence to differentiate their products in some way in order to compete successfully. Examples of the successful use of a differentiation strategy are Hero Honda, Asian Paints, HLL, Nike athletic shoes, Perstorp Byproducts, Apple Computer, and Mercedes-Benz automobiles. A differentiation strategy is appropriate where the target customer segment is not price-sensitive, the market is competitive or saturated, customers have very specific needs which are possibly under-served, and the firm has unique resources and capabilities which enable it to satisfy these needs in ways that are difficult to copy. These could include patents or other Intellectual Property (IP), unique technical expertise (e.g. Apples design skills or Pixars animation prowess), talented personnel (e.g. a sports teams star players or a brokerage firms star traders), or innovative processes. Successful brand management also results in perceived uniqueness even when the physical product is the same as competitors. This way, Chiquita was able to brand bananas, Starbucks could brand coffee, and Nike could brand sneakers. Fashion brands rely heavily on this form of image differentiation. Some research does suggest that a differentiation strategy is more likely to generate higher profits than is a low cost strategy because differentiation creates a better entry barrier. A low-cost strategy is more likely, however, to generate increases in market share. This however, may result from a limited understanding of profits. Differentiation strategies are indeed likely to result in higher gross and net profit margins due to the pricing power created by perceived uniqueness and high customer satisfaction. However, these higher prices will also likely result in lower sales volumes and lower asset turnovers. As such, the effects on Returns on Capital are likely to be neutral. As illustrated in the Dupont ratio therefore, a firm can achieve high profitability and Returns on Capital by being either a successful differentiator (with high margins and low volumes) or a successful cost leader (with low margins and high volumes). One strategy is not necessarily more profitable than the other. Variants on the Differentiation Strategy The shareholder value model holds that the timing of the use of specialized knowledge can create a differentiation advantage as long as the knowledge remains unique. This model suggests that customers buy products or services from an organization to have access to its unique knowledge. The advantage is static, rather than dynamic, because the purchase is a one-time event. The unlimited resources model utilizes a large base of resources that allows an organization to outlast competitors by practicing a differentiation strategy. An organization with greater resources can manage risk and sustain losses more easily than one with fewer resources. This deep-pocket strategy provides a short-term advantage only. If a firm lacks the capacity for continual innovation, it will not sustain its competitive position is over time. Criticisms of generic strategies Several commentators have questioned the use of generic strategies claiming they lack specificity, lack flexibility, and are limiting. In particular, Miller (1992) questions the notion of being caught in the middle. He claims that there is a viable middle ground between strategies. Many companies, for example, have entered a market as a niche player and gradually expanded. According to Baden-Fuller and Stopford (1992) the most successful companies are the ones that can resolve what they call the dilemma of opposites. A popular post-Porter model was presented by W. Chan Kim and Renà ©e Mauborgne in their 1999 Harvard Business Review article Creating New Market Space. In this article they described a value innovation model in which companies must look outside their present paradigms to find new value propositions. Their approach fundamentally goes against Porters concept that a firm must focus either on cost leadership or on differentiation. They later went on to publish their ideas in the book Blue Ocean Strategy. Q.No.3: analyse how the firms and industries are benefitted by globalization and the role technology has played? Globalization, since World War II, is largely the result of planning by politicians to break down borders hampering trade to increase prosperity and interdependence thereby decreasing the chance of future war. Their work led to the Bretton Woods conference, an agreement by the worlds leading politicians to lay down the framework for international commerce and finance, and the founding of several international institutions intended to oversee the processes of globalization. These institutions include the International Bank for Reconstruction and Development (the World Bank), and the International Monetary Fund. Globalization has been facilitated by advances in technology which have reduced the costs of trade, and trade negotiation rounds, originally under the auspices of the General Agreement on Tariffs and Trade (GATT), which led to a series of agreements to remove restrictions on free trade. Since World War II, barriers to international trade have been considerably lowered through international agreements   GATT. Particular initiatives carried out as a result of GATT and the World Trade Organization (WTO), for which GATT is the foundation, have included: Promotion of free trade: elimination of tariffs; creation of free trade zones with small or no tariffs Reduced transportation costs, especially resulting from development of containerization for ocean shipping. Reduction or elimination of capital controls Reduction, elimination, or harmonization of subsidies for local businesses Creation of subsidies for global corporations Harmonization of intellectual property laws across the majority of states, with more restrictions Supranational recognition of intellectual property restrictions (e.g. patents granted by China would be recognized in the United States) Cultural globalization, driven by communication technology and the worldwide marketing of Western cultural industries, was understood at first as a process of homogenization, as the global domination of American culture at the expense of traditional diversity. However, a contrasting trend soon became evident in the emergence of movements protesting against globalization and giving new momentum to the defense of local uniqueness, individuality, and identity, but largely without success.[33] The Uruguay Round (1986 to 1994)[34] led to a treaty to create the WTO to mediate trade disputes and set up a uniform platform of trading. Other bilateral and multilateral trade agreements, including sections of Europes Maastricht Treaty and the North American Free Trade Agreement (NAFTA) have also been signed in pursuit of the goal of reducing tariffs and barriers to trade. World exports rose from 8.5% in 1970, to 16.2% of total gross world product in 2001 Advantages of Globalization Globalization means increasing the interdependence, connectivity and integration on a global level with respect to the social, cultural, political, technological, economic and ecological levels. People around the world are more connected to each other than ever before. Information and money flow quicker than ever. Products produced in one part of a country are available to the rest of the world. It is much easier for people to travel, communicate and do business internationally. This whole phenomenon has been called globalization. Spurred on in the past by merchants, explorers, colonialists and internationalists, globalization has in more recent times been increasing rapidly due to improvements in communications, information and transport technology. It has also been encouraged by trade liberalization and financial market deregulation.Globalization offers a higher standard of living for people in rich countries and is the only realistic route out of poverty for the worlds poor. Pro-g lobalization groups e.g. World Trade Organization and the World Economic Forum believe that globalization helps to reduce poverty and increase living standards as well as encourage a better cultural understanding. Also, due to globalization, there can be international co-operation to solve environmental and social problems. Technology has now created the possibility and even the likelihood of a global culture. The Internet, fax machines and satellites have swept away the old national cultural boundaries. Global entertainment companies now seem to shape the understandings and dreams of ordinary citizens, wherever they live. Globalization leads to better cultural understanding and tolerance. Because of improvements in travel, more and more people are traveling to different countries, thereby spreading their culture to other parts of the world. Advantages of Globalization We have moved from a world where the big eat the small to a world where the fast eat the slow, as observed by Klaus Schwab of the Davos World Economic Forum. All economic analysts must agree that the living standards of people have considerably improved through the market growth. With the development in technology and their introduction in the global markets, there is not only a steady increase in the demand for commodities but has also led to greater utilization. Investment sector is witnessing high infusions by more and more people connected to the worlds trade happenings with the help of computers. As per statistics, everyday more than $1.5 trillion is now swapped in the worlds currency markets and around one-fifth of products and services are generated per year are bought and sold. Buyers of products and services in all nations comprise one huge group who gain from world trade for reasons encompassing opportunity charge, comparative benefit, economical to purchase than to produce, trades guidelines, stable business and alterations in consumption and production. Compared to others, consumers are likely to profit less from globalization. Another factor which is often considered as a positive outcome of globalization is the lower inflation. This is because the market rivalry stops the businesses from increasing prices unless guaranteed by steady productivity. Technological advancement and productivity expansion are the other benefits of globalization because since 1970s growing international rivalry has triggered the industries to improvise increasingly. Goods and people are transported with more easiness and speed  the possibility of war between the developed countries decreases  free trade between countries increases  global mass media connects all the people in the world  as the cultural barriers reduce, the global village dream becomes more realistic  there is a propagation of democratic ideals  the interdependence of the nation-states increases  as the liquidity of capital increases, developed countries can invest in developing ones  the flexibility of corporations to operate across borders increases  the communication between the individuals and corporations in the world increases  environmental protection in developed countries increases   Effects of globalization Enhancement in the information flow between geographically remote locations The global common market has a freedom of exchange of goods and capital There is a broad access to a range of goods for consumers and companies  worldwide production markets emerge Free circulation of people of different nations leads to social benefits Global environmental problems like cross-boundary pollution, over fishing on oceans, climate changes are solved by discussions More transborder data flow using communication satellites, the Internet, wireless telephones etc. International criminal courts and international justice movements are launched The standards applied globally like patents, copyright laws and world trade agreements increase Corporate, national and sub national borrowers have a better access to external finance Worldwide financial markets emerge Multiculturalism spreads as there is individual access to cultural diversity. This diversity decreases due to hybridization or assimilation International travel and tourism increases Worldwide sporting events like the Olympic Games and the FIFA World Cup are held Enhancement in worldwide fads and pop culture Local consumer products are exported to other countries Immigration between countries increases Cross-cultural contacts grow and cultural diffusion takes place There is an increase in the desire to use foreign ideas and products, adopt new practices and technologies and be a part of world culture Free trade zones are formed having less or no tariffs Due to development of containerization for ocean shipping, the transportation costs are reduced Subsidies for local businesses decrease Capital controls reduce or vanquish There is supranational recognition of intellectual property restrictions i.e. patents authorized by one country are recognized in another Advantages of globalization in the developing world It is claimed that globalization increases the economic prosperity and opportunity in the developing world. The civil liberties are enhanced and there is a more efficient use of resources. All the countries involved in the free trade are at a profit. As a result, there are lower prices, more employment and a better standard of life in these developing nations. It is feared that some developing regions progress at the expense of other developed regions. However, such doubts are futile as globalization is a positive-sum chance in which the skills and technologies enable to increase the living standards throughout the world. Liberals look at globalization as an efficient tool to eliminate penury and allow the poor people a firm foothold in the global economy. In two decades from 1981 to 2001, the number of people surviving on $1 or less per day decreased from 1.5 billion to 1.1 billion. Simultaneously, the world population also increased. Thus, the percentage of such people decreased fr om 40% to 20% in such developing countries