Analyze the Effects That the Wealthiest Individuals of the Gilded Age Had on America Essay Example for Free

Analyze the Effects That the Wealthiest Individuals of the Gilded Age Had on America Essay As the American Civil War came to an end, an era of phenomenal economic growth was spurred by a second Industrial Revolution. It touched all geographic areas of America, evident in increased farm output and labor efficiency. The magnificent flow of goods generated could be efficiently transported by freshly lain transcontinental railroads made of Bessemer steel. Presiding over these late nineteenth century developments was a new class of extremely wealthy industrialists, the main beneficiaries of the era’s prosperity. They dominated substantial sectors of the new economy such as steel, oil, banking, and rail transportation. While these individuals created and donated outstanding wealth, they also engineered one of American history’s most corrupt and unequally heterogeneous time periods, dubbed the Gilded Age by Mark Twain. Such ambiguity blurs the legacy of these incredible few, who some call â€Å"robber barons† and other call â€Å"captains of industry†. However, neither polarity is completely accurate. The wealthiest Americans during the Gilded Age had both positive and negative effects on American society. While a large group of individuals amassed incredible wealth during the Gilded Age, there existed an even more elite group consisting of individuals that rank among the richest men in history. It included John D. Rockefeller, Andrew Carnegie, Jay Gould, James Fisk, and J. P. Morgan. To understand their later deeds, one must understand the strikingly similar environments in which these men came of age. For example, all of the aforementioned men were born in the Northeast during the Second Great Awakening, an environment in which principles such as self-discipline, frugality and efficiency were highly valued. Preachers of the time period endorsed the Calvinist view that â€Å"where you find the most religion, you find the most worldly prosperity†, while poverty was considered a condition of the lazy and spiritually weak (Chernow 55). Like many others have done in history, the wealthiest industrialists established religion as the concrete foundation on which they justified their actions. With the exception of J. P. Morgan, the most affluent robber barons also grew up with little material means. Carnegie worked as a bobbin boy at age 14, earning about $1. 20 a week, and Rockefeller picked potatoes for 37 cents a day in his youth (â€Å"Andrew Carnegie†, Chernow 32). These challenging living conditions further instilled frugality and grit inside the destined business leaders of America, qualities that would help them conquer industrial America. Most of the future industrialists also entered the business world in their teenage years. Sixteen-year-old Rockefeller so furtively pursued employment that he visited businesses from early morning to late afternoon six days a week for six weeks until he finally found a job as a bookkeeper (Chernow 44-45). Additionally, they were all in their early twenties when the Civil War began. Amusingly, not one of them enlisted; each hired a replacement for $300 instead (Zinn 255). The young entrepreneurs sought to benefit financially during the war instead of fighting in it, although most supported the Union cause (Chernow 70). The road that each of these extraordinary men walked led them into a monumental era. War raged, new industries boomed, and they had the chance to take advantage of their rapidly changing surroundings. Few in history had as fortuitous opportunities as these men who were born in the right place at the right time. The Civil War gave young industrialists an opportunity to flaunt their business acumen during â€Å"wartime prosperity†. However, with the exception of John D. Rockefeller, who quadrupled his and his associate’s company profits and then bought the company through fair and hard work, their ascent during the period was generally cluttered with acts of questionable morality. In one notorious negotiation, J. P. Morgan bought 5,000 rifles for $3. 50 each and sold them for $22 each to an army general, making a handy $90,000. It was later found that the rifles shot off the thumbs of the soldiers using them. However, no compensation was given because the purchase was an authentic legal contract (Zinn 255). In addition, Jay Gould and James Fisk heftily profited from trading railroad stocks. With inside information, they unfairly beat out rival speculators. James Fisk also commonly sold war commodities for triple their market price to desperate armies (Josephson 66). These young men were still largely in a developmental stage during the Civil War, but their actions during the time period heavily foreshadowed their later actions. Postbellum America was said to be â€Å"the most fertile in American history for chemers and dreamers† (Chernow 97). The young industrialists naturally continued to increase their wealth in the decades after the war with blazing speed, but the actions they made to do so further polluted their legacy and adversely affected American society. Perhaps the most notorious robber baron was John D. Rockefeller. During the war, the twenty-five year old had bought his condescending associates out and then opened Cleveland’s largest oil refinery. â€Å"It was the day that determined my career† he later said (Chernow 87). After the war, Rockefeller sought to further expand his business. He established the Standard Oil Company, a trust with $1 million dollars in capital, with the goal of controlling all of the oil industry (Chernow 134). An action that largely epitomizes his company’s chicanery is the formulation of the South Improvement Company, a collusion with three powerful railroads to increase Standard Oil stakes. Under the SIC, Standard Oil would receive a payment for every barrel of oil shipped by his refineries as well as other refineries, a deal that would discourage railroads to ship oil from refineries outside the SIC, virtually rendering it impossible for small refineries to survive. In exchange, Rockefeller promised to meet a daily shipping quota which would stabilize railroad profits (Chernow 136). When struggling Cleveland refineries heard of the SIC plan, they immediately protested. The plan eventually failed; however, while the plan was intact, Rockefeller bought 22 out of 26 Cleveland refineries in one month, a shopping spree dubbed the Cleveland Massacre (Chernow 145). One Cleveland refiner’s daughter said â€Å"Father went almost insane over this terrible upset to his business. His whole life was embittered by this experience†. Countless similar stories were told as Rockefeller ruthlessly conquered the oil industry by means of horizontal integration. â€Å"The day of combination is here to stay. Individualism has gone, never to return† he said (Chernow 148). Whenever legitimate competition arose, Standard Oil took extreme measures to corral it. When a rival pipeline company threatened Standard Oil’s dominance, Standard Oil hired lawyers to act as farmers and landowners who opposed pipeline construction, bought entire valleys of land, persuaded companies to not sell construction supplies to the rival company, and generously bribed legislatures (Chernow 207-209). Using similar coercive means as well as outright bribery, Rockefeller came to control 95% of the oil industry by 1877, eventually accumulating a fortune that makes him the richest man in American history (Bailey, Kennedy, and Cohen 541, Chernow 505). His success inspired countless business leaders to form trusts that further disproportioned American wealth, hence indirectly harming America socioeconomically on top of his colossal direct harm. Other industrial captains also amassed their fortunes at the expense of others. Railroad builders such as James Hill, Vanderbilt, and the Big Four employed Irish and Chinese workers at the cost of one or two dollars a day. Hours were long and the work was dangerous. In just 1889, 22,000 railroad workers were killed or injured (Zinn 256). The most famous demonstration of railroad labor unrest was the Great Railroad Strike of 1877 which was triggered by wage cuts. 100 people died, and millions of dollars of property was damaged (Carrigan). The steel industry also generated aggrieved workers. Two-thirds of the workers at Andrew Carnegie’s largest steel manufacturing plant, Homestead, earned $1. 40 every 12 hour workday, barely enough to keep a family above the poverty line of $500/year. Asked about working conditions, one Homestead worker said, â€Å"I lost forty pounds the first three months I came into the business. It sweats the life out of a man. I often drink two buckets of water during the twelve hours; the sweat drips through my sleeves, and runs down my legs and fills my shoes† (Reilly 8). The wealthy inequality created by big businesses like Carnegie’s begot class warfare. In 1892, Homestead workers went on strike after the manager decided to cut wages and break the union. When Pinkerton detectives failed to stop the riot, federal troops were called in (Zinn 276). The Gilded Age naturally produced monopolistic big businesses that were owned by immensely wealthy individuals due to the nature of the technological innovations of the time period. They established an unfortunate precedent of greed and â€Å"survival of the fittest† in American society. One must also never forget the hundreds of thousands of forgotten men who toiled twelve hour workdays to enlarge a few men’s coffers. Much like the actions of the Spanish conquistadores, those of the wealthiest industrialists of the Gilded Age are mainly noted for their detrimental effects. However, this Black Legend of the late nineteenth century is not entirely accurate. It is true that greed and inequality loomed over them; however, they also developed the American supereconomy. For example, aided by the Bessemer process, Andrew Carnegie led a dramatic increase in steel production. In 1880, one million tons of steel were produced. By 1910, output reached 25 million tons, largely thanks to Carnegie’s innovative vertical integration (Zinn 254). Incredibly, before the 20th century, Carnegie Steel Company was producing more steel than all of Great Britain (Roark, Johnson, and Cohen 633). Rockefeller also utilized his unmatched executive skills to create a remarkably efficient business machine. For example, by applying thirty-nine drops of solder on cans of oil instead of forty, he saved $2,500 a year early in his career. In time, this tweak saved the Standard Oil Company hundreds of thousands of dollars, and Rockefeller constantly sought for such minute enhancements (Chernow 180-181). His genius can be seen in his jaw-dropping wealth; in 1902, his income was $58 million, over a billion dollars in 1996 dollars (Chernow 504). From 1865 to 1900, the American economy grew eightfold, and this was largely thanks to the talents of the industrialists who aided America in becoming the world superpower it is today (Watts). The 19th century industrialists also did not solely harm the common man. For example, Rockefeller’s monopolization of the oil industry ruined many common men, but it benefited even more by making kerosene widely available. This was because of Standard Oil’s foundational principle: â€Å"that the larger the volume the better the opportunities for the economies, and consequently the better the opportunities for giving the public a cheaper product without the dreadful competition† (Chernow 150). Rockefeller accomplished just this, as the price of refined oil was cut in half as a result of his enterprise. Because of Rockefeller, millions could light their homes for a penny an hour, a cost that would be much higher if not for Rockefeller’s dominance (Folsom 83). Perhaps the advances he gave to the common man outweighed his sins against the relatively few in the oil industry. Adhering to the doctrines of Andrew Carnegie’s Gospel of Wealth, the wealthiest industrialists donated stupendous amounts of money to charitable causes. In 1911, the Carnegie Corporation was founded, a charitable enterprise with $125 million in starting capital founded by none other than Andrew Carnegie. To this day, it is one of the highest ranked charitable foundations with over $2 billion in assets for education, prevention of deadly conflict, and strengthening of human resources (Traub). As an extremely devout Christian, Rockefeller donated money from his very first paycheck, a fact that renders any extremely stingy and greedy portrayal of him false. â€Å"I have my earliest ledger and when I was only making a dollar a day I was giving five, ten, or twenty-five cents† he said. What distinguished Rockefeller from other great donors was his generous funding of medical research, an interest sparked by his father’s shady career. When asked about building medical facilities, Carnegie once said â€Å"That is Mr. Rockefeller’s specialty. Go see him†. In 1901, the Rockefeller Institute of Medical Research was founded. Its work produced the first American Nobel Prize for medicine (Chernow 478-9). In 1910, Rockefeller fought hookworm on a global scale and within five years, it was nearly eradicated (Chernow 481). In donating to charitable causes, Rockefeller managed his charitable expenditures as he would with Standard Oil. By his death in 1936, he had given away $550 million, making him American society’s greatest philanthropist (Bailey, Kennedy, and Cohen 576). One area that almost all of the late nineteenth century capitalists contributed to was education. Rockefeller himself supported UChicago, Huntington, two Negro colleges, and the famous Tuskegee Institute. Carnegie personally contributed $60 million to the construction of public libraries (Bailey, Kennedy, and Cohen 576). Many others also contributed to America’s education. Cornell, Duke, Vanderbilt, and Stanford were all captains of industry. The colleges that they founded are among America’s top colleges to this day. Largely thanks to the donations of the industrialists, the illiteracy rate fell from 20 percent in 1870 to 11 percent in 1900.. It has been said that â€Å"a free government cannot function successfully if the people are shackled by ignorance† (Bailey, Kennedy, and Cohen 573). Thus, the donations of the wealthiest industrialists have had a profound effect on American society as young men and women in schools and libraries across the country to this day have been influenced by them. During the Gilded Age, the combination of laissez-faire economics, post-war sentiment, and technological innovation led to a spur of rapid change that forever altered the American landscape. The wealthiest industrialists of the time period became wealthy by taking advantage of its developments. In retrospect, late nineteenth century American society can largely be viewed as the results of the influences of the industrialists. The effects had no definitive net impact, but they did forever shape American society.

Shaft Essay Example for Free

Shaft Essay The Lathe Turning is one of the most common of metal cutting operations. In turning, a workpiece is rotated about its axis as single-point cutting tools are fed into it, shearing away unwanted material and creating the desired part. Turning can occur on both external and internal surfaces to produce an axially-symmetrical contoured part. Parts ranging from pocket watch components to large diameter marine propeller shafts can be turned on a lathe. The capacity of a lathe is expressed in two imensions. The maximum part diameter, or swing, and the maximum part length, or distance between centers. The primary task of a lathe is to generate cylindrical workpieces. The process of machining a workpiece to the required shape and size by moving the cutting tool either parallel or perpendicular to the axis of rotation of the workpiece is known as turning. In this process, excess unwanted metal is removed. The machine tool useful in performing plain turning, taper turning, thread cutting, chamfering and knurling by adopting the above method is known as lathe. Schematic illustration of the components of a lathe Schematic illustration of a turning operation showing depth of cut, d, and feed, f. utting speed is the surface speed of the workpiece at the tool tip. (b) Forces acting on a cutting tool in turning. Fc is the cutting force; Ft is the thrust or feed force (in the direction ot teed); and Fr is the radial torce that tends to push the tool away trom the workpiece being machined. Manufacturing processes used during the making of the power shaft: Turning Turning in a lathe is to rem ove excess material from the workpiece to produce a ylindrical surface of required shape and size. Straight turning The work is turned straight when it is made to rotate about the lathe axis and the tool is fed parallel to the lathe axis. The straight turning produces a cylindrical surface by removing excess metal from the workpieces. Step turning Step turning is the process of turning different surfaces having different diameters. The work is held between centres and the tool is moved parallel to the axis of the lathe. It is also called shoulder turning. Facing Facing is the operation of machining the ends of a piece of work to produce flat urface square with the axis. The operation involves feeding the tool perpendicular to the axis of rotation of the work. Chamfering Chamfering is the operation of bevelling the extreme end of the workpiece. The form tool used for taper turning may be used for this purpose. Chamfering is an essential operation after thread cutting so that the nut may pass freely on the threaded workpiece. Grooving Grooving is the process of cutting a narrow goove on the cylindrical surface of the workpiece. It is often done at end of a thread or adjacent to a shoulder to leave a mall margin. The groove may be square, radial or bevelled in shape. Thread cutting Thread cutting is one of the most important operations performed in a lathe. The process of thread cutting is to produce a helical groove on a cylindrical surface by feeding the tool longitudinally. But we did it manually using a die. Filling Filing is a final material removal process in manufacturing.

In depth study on IKEA

In depth study on IKEA The scope of this paper is to conduct in-depth study on IKEA, the global home furnishing retailer from different perspectives. The report consists of IKEA corporate and business strategies in global markets, the firm previous experience in US and business model IKEA applied in Asian countries. 1.2 Objectives The objective of this paper is to produce a comprehensive report to CEO with the aim of determine IKEA strategic position in the future. The report critically assesses IKEA current market positioning and challenges IKEA have to overcome in order to sustain the competitive advantages. SWOT analysis is used to provide clearer picture regarding the firm internal performances in term of strengths and weaknesses, as well as the external opportunities and threats. Meanwhile, macro environment issues will be evaluate by using PESTEL analysis to capture IKEA potential growth and firm competitiveness. Recommendation to promote IKEA future growth will be provide base on strategies review. 2.0 Company Background 2.1 Industry and Company Background In 1943, a Swedish entrepreneur Ingvar Kamprad established IKEA. The name of IKEA came from its founder name Ingvar Kamprad, the farm Elmtaryd and home country Agunnardy where Ingvar Kamprad grew up. IKEA has developed rapidly as a global home products retailer. The corporate structure mainly divided into two divisions which are operation and franchising. Operation covered the management of majority stores, design, purchasing, supply functions and manufacture of furniture, which manage by a private profit Dutch company, INGKA Holding. In 1982, Kamprad established Stichting Ingka Foundation, a non-profit foundation that control over INGKA Holding. Ingka Foundation chaired by Kamprad and five executive committees which included her wife. The IKEA trademark and concept is owned by separate Dutch firm, the Inter IKEA Systems based in Luxembourg. Every IKEA stores pay 3% of sales to Inter IKEA as a franchise fees. IKEA consumers are mainly distributed into four different geographic region s, Europe, America, Middle East and Asia. The vision of IKEA is to provide a better living solution which is affordable and its mission statement is to offer functional and stylish low price furniture which everyone could afford. 2.2 Company Product and Services IKEA seized retailer chain that sells flat pack furniture, kitchen and bathroom accessories across the world. The furniture designed to be self assembled in order to reduce transportation cost. Besides, the company include traditional Swedish food restaurant in their stores, which serving Swedish meatballs, smoked salmon, lingo berry tarts and cream source. Additionally, thoughtful part of IKEA is many stores have play area for children named Smaland, where parents able to drop their children to playground while shopping and pick them up at another entrance. 2.3 Corporate and Business Strategies The impressive growth of IKEA lies on the distinctive corporate and business strategies. IKEA employ marketing mix strategy to position its brand identity in the market. Armstrong et al. (2006) explains that marketing mix strategy is a business model tools that focus on product, price, place and promotion. IKEA provide wide range of product selection. Although the product functional category is same, IKEA designed it in different features. For example, IKEA laptop stand act user friendly like a small table allow customers to use their laptop while lying on sofa. In term of pricing, IKEA flat pack furniture able to reduce transportation cost which resulted in price saving. Moreover, IKEA tend to locate in suburban area. This factor helps cut operational cost and able to provide more parking spaces for customers. Besides, Armstrong et al. (2006) also mentions that promotion is a marketing communication that consists of advertising, personal selling, sales promotion and public relations . IKEA promote their products by mail order service and free distribution of catalogue which enables IKEA cut cost in furniture storage. To improve competitiveness, IKEA modified the value chain strategy. Bartol et al. (1993, p.211) explains that Porter argues a business able to improving and value adding by focus on the key internal activities in the value chain. However, the independent (1994, p.9) states that IKEA integrate the value chain by create a two directional value adding system between customers and suppliers. On the other hand, IKEA used to expand by franchising method in their globalization strategy. Currently, IKEA has further explored their globalization strategy by joint venture. Evans et al. (2000) states IKEA joint venture strategy enable the firm minimizes the financial risk, expand the expertise network and get to know local market better. 2.4 IKEA Performances According to IKEA group fiscal year 2010 report, the independent (2010) states that IKEA currently opened 280 stores in 26 countries. The total sales archived 23.1 billion euro by 2010, raise 7.7% compare to its 21.4 billion sales in 2009. The net profit increased 6.1% at 2.7 billion euro. The IKEA market share mainly distributed in Europe which is 79%, North America 15%, Asia and Australia 6%. The distribution of purchasing per region is Europe 62%, Asia 34% and North America 4%. In term of growth perspective, IKEA demonstrated sustainable sales improvement which was average 21.9 billion euro in the past three years, 21.2 billion euro in 2008, 21.4 billion euro in 2009 and 23.1 billion euro sales by year 2010. 2.5 SWOT Analysis of IKEA 2.5.1 Strengths IKEAs distinct strategies have successfully shaped it strengths in competitive furnishing environment. The strengths comprise of strong global brand recognition that able to retain group of customers. Another strength is distinctive business strategies allow IKEA control over the products design, low pricing and global sourcing materials. Backward integration is one of the strength as well that permit IKEA enjoys economies of scale. 2.5.2. Weaknesses The weaknesses of IKEA derive into few elements. IKEA niche markets concept did not work in every country. Another potential barrier is IKEA over emphasis low price products may lead to their customers doubtful in products safety. Furthermore, IKEA has limited manufacturing capabilities by its own due to global sourcing strategy. 2.5.3 Opportunities An outstanding corporate realized that encounter weakness is the key of opportunity. The firm has foreseen the great opportunities in developing countries where IKEA may put more concentration on outsource his business in some developing Asia countries which is potential because of low cost manufacturing for example Cambodia. Meanwhile, India high population rates also one of the huge markets for IKEA expansion. IKEA may improve the existing its customers network by promote more online shopping. 2.5.4 Threats IKEA facing extreme environmental threats among competitors, some of the new entry companies adapted IKEA low cost strategy and imitated its flat pack furniture concept in the markets. On the other hand, global economy recession may reduce consumers buying power in emergent markets. Likewise, political instability may influence IKEA business performance. Chapter 3: Main Body 3.1 Assessment on IKEA Current Strategic and Distinctive Competitiveness In order to archive competitive advantages among competitors, IKEA adopted Porters generic strategy which comprise of differentiation strategy, differentiation focus, cost leader and cost focus which enable IKEA differentiate their brand identity among competitors. IKEA uphold its differentiation concept by offering high quality and low cost products to archive competitive advantages. Porter (1985) states that differentiation aims at deliver products and services that are different from the product mix of their competitors at a premium cost. The company provides functional style of self assembly furniture which material used is source globally to reduce the cost. Guardian (2005) describes that IKEA able to cut their prices at an average of 2% to 3% each year to compete in some markets segment. To sustain the differentiation strategy, IKEA may focus in adding more additional features into different products and keep the products user friendly. Adoption of differentiation focus allows IKEA to focus on particular segmentation market. Porter (1985) illustrates that differentiation focus means of differentiating its product within smaller number of target market segment. Recent years, IKEA concentrate its segmentation markets by opening trading office globally to serve customers better. Venorika (2006) states that IKEA opened 46 trading offices in 32 countries by 2006 where the suppliers need to fulfill IWAY code of conduct in supplying materials. To fulfill variety of local demands, IKEA should ensure the suppliers and designers constantly customize some of their products to provide range of choices. The advantage of being cost leader in market is able to draw attention and attract customers in long run business. Guardian (2005) illustrates that IKEA attain cost leaders by working together with its suppliers, provide technology and consultation. Likewise, cost focus can be mutual benefits for manufacturer and consumers where manufacturer save its cost of production and consumers enjoy the cost saving harvest. For example, the benefits of global sourcing where Captell (2005, newspaper) states that one of the IKEA best selling products Klippan sofas price was $354, by 2006 the price has drop to 202. To sustain cost focus, IKEA should critically examine some suppliers and further diversify its major suppliers for their materials. For example, Map of The World (2006) states that Canada, Russia and United States are top timber producing countries. 3.2 Organizational Gaps to Date Increasingly globalization is an enormous challenge for IKEA. To sustain, IKEA should further integrate their management by letting its independent business group has greater managerial decisions to effectively implement business process and boost quicker respond during crisis occur. Carrillat et al (2004) illustrates management that market driving is described to be outstanding in implementing unique business process, figuring market structure and value adding to their organization. Secondly, a company that provides professional service able to retain customer loyalty. Rowley (2005, pg 574-578) states customers loyally are company business core assets in the competitive market environment which add value to a business future. IKEA may review their service policy while dealing with customers flow during weekends. It can be archived by retraining their staffs to handle more customers efficiently. Alternately, the company can increase their manpower by hiring part time workers which is lower cost. Development of information technology has increase convenience in searching broad information. Brent (2005, pg 2) explain that a comprehensive information system allows company strategic core to be flexible, scalable and effectively operating in a high stress and limited resource environment. Hence, IKEA should utilize the information technology resource by promotes online shopping to resolve weekend customers flow issue. 3.3 Performances of Current IKEA Strategy 3.3.1 Analysis on IKEA challenges in US market. IKEA in United States In the mid of 1980s, IKEA entered United States to challenge an entirely different culture. IKEA success in United States doesnt come easily. Although the low price products always preferences of consumers but IKEA still faced difficulties at the beginning stage. Measurement standard and size of furniture were the major issues to IKEA. Nordin study (2002) illustrates one of the customer feedbacks emphasized they were drinking out of vases to refer the size obstacle. In order to delight American markets, IKEA realized the importance of modify its products design to suit local needs. By the mid 1990s, the independent (2003) states that IKEA has successfully increased the revenue from USD 600 million to USD 1.3 billion and became IKEA third largest markets after Britain and Germany by 2002. PESTEL analysis for United States I. Political Factors The research by Wayne et al. (2006, p.101) states that United States exercise constitutional republic in their political system for decision making process. The government promotes equality of laws which is fair to all everyone, therefore the policy has resulted equal opportunity to enhance trade freedom. However, governments tax policies play important role that impact business competitiveness during economy recession. For example, the independent (2009) states tax reform act enacted on 1986, the incentive has benefits individual but loaded burden to corporate. II. Economic Factors The United States gained steady growth of GDP in the past decade. Wright et al. (2007, P.185) illustrates that the capitalist mixed economy result in well developed infrastructure and high productivity that lead United States become the world largest economy. Nevertheless, the saving and loan crisis during 1980s and 1990s has great impact to United States business and financial system. Timothy et al. (2000) states from 1985 to 1995 United States insured thrift institutional deficit from 3,234 to 1,645 has resulted raise in interest rates. III. Social Factors United States is one of the largest countries with highest populations in the world. Adam et al. (2001) illustrates that United States society consists of multicultural immigrants and vary in ethnical diversification. Understand different levels of American culture are a challenge as well as opportunity to overcome barrier in order to compete with local markets. For example, IKEA strategy of niche markets has failed due to American cultural preference in bigger size products. IV. Technological Factors The science and technology advancement have shaped American success in various aspects including economic, education system, infrastructure and legal institutions. Rapid growth of technology provides job opportunities and promotes growth in business markets. In addition, the facilities and expertise available has encouraged foreign investments. Linda et al. (1991) describes that technological advancement is essential for economic growth. Porters Five Forces Model Analysis for IKEA I. Rivalry The competitors try to adapt IKEA strategy by offer low price and functional furniture products. In low end market, Wal-Mart tends to cut price and do promotion on their furniture products. Conversely, Ethan Allen aims for high end market by offer functional quality products with comfort shopping atmosphere. Tewary (2002) states the furniture markets in United States are highly fragmented, the top ten furniture retailers were just stand 14.2% of total markets share. However, IKEAs strength to deliver brand identity in both ends allows the company to develop in coming future. II. Substitutes Currently, IKEA effective global sourcing strategy and unique supply chain management has allows the firm leading without threats of substitute. Moreover, IKEA innovation designs at all time able to satisfy trend of consumers demand. John Leland (2002) states typical Americans shopper like new things, travel abroad, take challenges and functional technology. Thus, IKEA consistently revise the fashion design style of furniture able to tag along consumers trend. Power of Buyers Consumers have limited choice on selection by specific retailer, due to particular retailer focus in certain perspective for example, design, quality, service and pricing. IKEA stands advantage on all. Therefore, the bargaining power is little for consumers. Nordin study (2002) illustrates that customer visit to IKEA able to find good design and low pricing products. Therefore, in IKEA internal perspective, the consumers bargaining power is little. New Entrants Most of the IKEA stores are located outside the cities to avoid massive traffic and provide bigger parking space. IKEA did not expand the markets in metropolitan areas, so there is potential for another furniture retailer to offer low price products to compete IKEA markets share. Tewary study (2003) shows that United Stated furniture reported USD 67 million sales by 2002 and keep on growing. Hence, some of the retailers may seize opportunity in sharing the furniture markets. Power of Suppliers IKEA has high demand in timber for their products. The supplier needs to bids contracts for supply raw material to IKEA. Meanwhile, IKEA will provide consultation in term of technology and training to ensure the consistency of material quality. Hence, the supplier bargaining power is low. Due to green environmental issues, it can impact the timber supply. Knight study (1998) shows that more than 200 million hectares of forests vanished due to development became the barriers of supply raw materials, Green Agreement of Tariffs has signed allows corporation to seek more profitable forest. Factors to Consider in Assessing Industry Attractiveness. Factors High Impact Low Impact Description Ref 3.3.2 Growth Potential and Competitive Advantage IKEA Secure in China IKEA in China In 1998, IKEA opened its first furniture store in Beijing, China. The company core target customers are the middle class young people which are around 30 years old. IKEA realized that different strategy need to be use while entry a new market. Lee et al (1998) states that China has numerous differences in culture, political, economic and business models compare to Sweden. Among the challenges, Trompenaars et al. (2004) illustrates that as a new business entry, language is one of the main barriers for IKEA enter China market. To win Chinese customers heart, IKEA has the Chinese translation named of Yi Jia which means comfortable and family. PESTEL analysis for china PESTEL analysis critically evaluates IKEA potential growth and present arguments on its competitive advantage to secure in China. I. Political Factors China exercise communism in their political system. In China, the government controls all the resource activities. Capdevielle study (2007) states that China enacted reform and opening up policy that opened its market to attract foreign investment in 1978. The policy provided opportunity for many multinational companies to expand their business in China. However, government tax polices influence markets growth. A study of Li et al. (2007, p.26-27) illustrates that 70% of foreign investment enterprise reported loss due to the transfer pricing measure enacted by China in 1990s to control the wealth out of their nation but China has slowly loosen the trade policy to promote business growth. Presently, IKEA adapted joint venture strategy to share risk of losses as well as dealing with government policy to archive competitive advantage. II. Economic Factors The joined of China into World Trade Organization (WTO) has result the country economy growth rapidly. Phang et al. (2010) describes that China is the second largest world economy after United States by 2010 with the GDP of $1.337 trillion. The strong economy growth has raised China people purchasing power toward the housing demand which can be a huge potential for furniture industry. Wang (2003, p.121-143) states that housing investment annual rates has increased by 20% which is currently urban Chinese most important property. Nevertheless, IKEA facing competitive challenges in China local markets due to government weak control on intellectual property. Imitation of brand pattern which offer in very low price often found in China markets. Therefore, IKEA global sourcing strategy and supply chain management effectiveness which constantly offer low price products determine the company growth. III. Social Factors China has the world largest population. A study by Judith et al. (2010, p.4) illustrates that population of china has risen approximately to 1.35 billion by 2010, the world largest population and estimate to be peak during 2030 which is 1.5 billion. From the social point of view, that is a great opportunity for foreign investor to fight against the business markets share. However, the population aging issue and the one child government policy in China should be taking into consideration due to IKEA targeting young middle class people. Bloom et al. (2008, p.40) states that China population aging and low fertility rates could result impact on future economic growth. IV. Technological Factors Over the past decade, China has archive significant improvement in their science and technology development. The rapid improvement in research and development drive manufacturing industry expansion and create more jobs opportunity. Wang (2007) illustrates that china government implement policy to raise the ratio of RD to GDP, resulted sustainable growth which reported 1.4% by 1996 compare to 0.7% of GDP in RD during 1987. Nonetheless, lack of local core technology may increase foreign company cost in buying the technology license and import to China. For example, the independent (2006) states due to the lack of core technology, local company paying 20% to 40% of price for each computerized numerical control machine. Yet, IKEA stand advantage with the unique value chain management in providing technology consultation for their suppliers to maintain long term business relationships. 3.3.3 IKEA Current Strategy on Market Diversification (China) IKEA Diversification in China Globalization is the current trend for most of the companies nowadays. However, Brooks et al. (2004, P.233) illustrates that there is certain level of risk to invest in foreign country. To gain market share in new entry countries especially Asia, IKEA corporate and business strategies determine its sustainability and competitive advantage among competitors in future. For example, IKEA globalization strategy in Asia country, China, comprise of joint venture, localization and pricing strategies. Joint Venture First of all, IKEA decided to joint venture with local companies in China due to one of the macro-environmental element which was China government policy. Capdevielle et al (2007) elucidates that China practice joint venture policy to gain mutual benefits and principal of equality for their nation. Dealing with entirely different culture, IKEA adapted passed experience in globalization to analyze China market. Joint venture strategies add value to IKEA by sharing risk of losses. Bragssington et al. (2003, p.106) points out that full analysis should be conduct in order to informed the expansion decision to contribute the success in investment. Localization To continually growth IKEA business after joint venture, the firm adapted localization strategy to suit local Chinese culture. For example, the independent (2005) illustrates that IKEA localization strategy consists of offer wide range of Chinese market products that tailor customers preference as well as the design of showroom is constructed accordance to Chinese style. Despite of it, IKEA also focus on Chinese sub-culture to lure the local customers. Copeland et al. (1986) states that Chinese preference on decoration in red color during Chinese New Year which means good luck and fortune. Recent years, one of the most exclusively IKEA localization effort was during Chinese New Year. In 2006 Chinese New Year, many IKEA products designed with red rooster to welcome the Chinese year of rooster. Pricing Strategies IKEA based on its low price strategy in offering wide range of quality products to consumers. Usunier (2000) elucidates that product price is always a vital communication element between buyers and sellers. To compete with local furniture retailers, IKEA has dramatically slashed their products price and outsourced locally to reduce cost. Song (2005) points out that currently 70% of IKEA selling products are made in china and certain products has slunk 70% of its original price. For example, the tray BAGN for eating on bed purposes cost RMB 29 in 2007 compare to its price RMB 89 during 2000. Chapter 4: Recommendation To survive in the changing environment, IKEA have to constantly adapt changes and aware on customers preference trend. Several elements IKEA may focus to improve its value proposition as well as to maintain competitive advantages. 4.1 Justification on IKEA diversify strategy in China Joint venture strategy in China has improved IKEA operational network and culture understanding. Jonsson (2008) states that IKEA react more responsive to the local Chinese demands due to the sharing knowledge of Chinese culture with joint venture partners. Recent years, Capdevielle (2007) points out that IKEA has currently offer typical Chinese furniture such as Chinese kitchen wares. IKEA pricing strategies in China have significant progress throughout the years. Wei (2007) illustrates that by 2002 IKEA overall products price drop 12% and sales increase by 35% in 2003 compare to year 2002. Despite of it, IKEA move further to improve their customers service. Wei (2007) also mentions that IKEA started to provide delivery service with a little charge and even free of charge for deliver their products for those area are near. 4.2 IKEA Diversification on New Asia Country As the global business operational costs increase for example labor cost. IKEA may look for alternative opportunity to source its business from developing country. Cambodia can be IKEA potential business expansion due to the broad agriculture activity and strong GDP growth in recent years. Mohan (2005, p.10) points out that there is potential growth in future for Cambodia as an agriculture dependent country due to the labor cost advantage. Furthermore, Purcell et al. (2010, p.9) states the opened policy of Cambodia government in joining the ASEAN and WTO has increased the GDP 9.6% by 2007. The political and economic factors are vital elements IKEA should consider while entering into a new market. 4.3 Continue Focus on Innovation Innovation is a key in adding value to development of organization. Drucker (2002, p.95-103) states that capability to be innovative in an organization is the key to endure business grow. IKEA has a very different innovation perspective compare to others organization. Victoria et al. (2007, p.46) illustrate that IKEA posses unique forms of innovation in introducing new technology, widening the low cost products design range to maintain long term suppliers and consumers relationship. Victoria et al. (2007, p.46) also mentions IKEA focused on technological innovation by online products provision and supply chain management which contributed to the growth of its business. The critical factors to continue IKEA success in innovations are all level of consumer centric innovation, further analyzes the segmentation markets by research and innovative marketing campaign to match local preference. 4.4 Reviews on Strategy Competitiveness For IKEA to lead furniture industry as a market driver, the firm should periodically review and enhance the existing strategies. Adaption of blue ocean strategy enables IKEA to seek the value of innovation by cost reduction and differentiate it products to meet customer needs. Kim (2005, p.4) explains that blue ocean strategy enable corporate to create new customer value and provide lasting core competitiveness. Moreover, blue ocean strategy challenges the traditional business concept in breaking market competition and growing organization brand identity. Continually review the business strategy provides bigger picture and direction for an organization to attain growth in future.

Dark Matter :: physics science space

Missing Diagrams You, the computer you’re sitting at, the air you breathe, even the distant stars are all made up of protons electrons and neutrons. For a long time this ordinary matter, or what physicists like to call baryonic matter, was thought to be the main constitute of the universe. However, in the past twenty years evidence has been accumulating to the contrary, that in fact the universe is much stranger than ever thought of before and is almost entirely made up of something that we can’t see. For a long time astronomers weren’t concerned about the mass of objects that they couldn’t see. For example the earth is too small and dim to see from any great distance and all the planets in out solar system make up less than one percent of the total mass of the sun. However it soon became a concern when astronomers began to measure the mass of galactic clusters and it became apparent that there was a significant amount of matter unaccounted for. In the thirties, astronomers named Zwicky and Smith both examined closely two relatively nearby clusters, the Coma cluster and the Virgo cluster. They looked at the individual galaxies making up the clusters individually, and the velocities of the clusters. What they found was that the velocities of the galaxies were about a factor of ten to one hundred larger than they expected. In a cluster the main force is the gravitational pull of the galaxies on one another which gives rise to their velocities. By knowing the velocities of the galaxies the total mass of the cluster can be determined. If your web browser is Java-aware -- e.g., Netscape 2.0b or higher, try this experiment. It allows you to vary the mass inside a galaxy cluster, and watch the individual galaxies. Experiment I ( Courtesy of John's Homepage http://www.astro.queensu.ca/~dursi/dm-tutorial/dm1.html) Now like all observations there is a certain amount of error involved. In this case, watching the galaxies in a cluster takes years of observation and the velocities are hard to determine due to the expanse of the cluster. It’s not like the experiment were the dots are whizzing around. Also some of the galaxies measured may not be in the cluster but are just in the line of site of the telescope.

Cosbys Ebonics :: essays research papers

Cosby on Ebonics In 1996, the Oakland School District proposed the inclusion of what is known as "Ebonics" into its curriculum. Ebonics, or Black language, has been referred to in various ways over the years: "African American Vernacular English," "Pan-African Communication Behaviors," "African Language Systems," or "West and Niger-Congo African Language Systems." By any name, Ebonics, when studied over the years, has been proven to be a real language with its own phonology, syntax, morphology, sentence patterns, and double interpretations of words. The pattern that Ebonics speakers in the United States speak is highly similar to the patterns seen in both the Caribbean Creole and the West African languages. No one would have thought that comedian Bill Cosby would have an opinion on this subject, but as I read through essay I realized the logic and validity behind his paper. In his essay Bill Cosby states that, "Ebonics be a complex issue," and it is, also he feels that it should not be taught in schools without studying the problems that could grow from teaching "an urbanized version of the English language." Cosby has a PhD in education, which increases his credibility. Cosby, being a black man, should not affect how his essay is read but it may be an issue to some. His use of humor makes the subject easier to comprehend and the entire piece more interesting. There is always a serious way and a lighter way to address any problem that affects many people and Cosby's choice to use humor makes more sense considering who he is in the public eye. Ebonics is a difficult issue to deal with, and Cosby makes a valid point that it should not be taught in school. Cosby's credibility is not weakened because of his PhD in education if nothing else it is heightened. Being that he has this degree, he is more likely to obtain all the facts before forming a strong opinion on the subject. Having to teach Ebonics to anyone and everyone would be a problem and some people may not want to learn a new version of the language that has been taught for how many years. Cosby’s education creates a feel of an educated person making an educated opinion, not just anyone with a personal opinion. A black man has just as much authority to discuss Ebonics as a white or Asian-American person. Just because Cosby is black does not affect the way Ebonics would be encountered in everyday occurrences.

Supporting Prayer in Public Schools Essay -- Religion

â€Å"Our Father†¦Ã¢â‚¬  Denied For centuries, the debate has existed whether or not to allow prayer in public schools. Many Americans feel it is not right of the schools to teach religion. With all the diversity associated with the United States, public schools cannot select one standard religion to practice, due to the cultural and religious differences in the country. Not only are schools the storm center of controversy involving religious differences, they are the principal institution charged with transmitting the identity and mission of the United States from one generation to the next. If we fail in our school policies and classrooms to model and to teach how to live with differences, we endanger our experiment in religious liberty and our unity as a nation. According to the First Amendment of the Constitution, Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof (usconstitution.net). The writers of the Constitution made it an important point in protecting freedom and religion. The writers then even stressed the importance of being able to be in any religion that suited a person. â€Å"The First Amendment of the Constitution removes government from the realm of religious belief and practice so that the state can neither subvert nor manipulate religion to serve secular, public ends† (Keynes and Miller 177). It is pure ignorance for someone to think that one religion is accepted throughout the world. No man or woman should be forced into a specific religion, quieted by peers, or not allowed to gather as a group of students just to pray. â€Å"A Congress that allows God to be banned from our schools while our schools can teach about cults, Hitler and even devil worship is wron g, out of t... ...reward in full. But when you pray, go into your room, close the door and pray to your Father, who is unseen. Then your Father, who sees what you have done in secret, will reward you† (Matthew 6:5-6 Holy Bible NIV). It would be beneficial to all if the advice set forth by Matthew the Apostle, was followed both in private life and mirrored with public schools. Works cited U.S Constitution Online. Steve Mount. 12 May 2008. 6 November 2008. Religion and Prayer in the US Public Schools. B.A. Robinson. 2006 October 11. Ontario Consultants on Religious Tolerance. 6 November 2008. Keynes, Edward and Miller, Randall K. Court vs. Congress. North Carolina, Duke University Press, 1989. http://books.google.com/books?id=_Ebb2wsxkF4C. 6 November 2008 Americans United for Separation of Church and State. Americans United for Separation of Church and State.

Chipotle Market Essay

Chipotle was established in 1993 with the idea to demonstrate that fast food does not have to come with the typical â€Å"fast-food† experience. Chipotle’s niche market prefers high quality ingredients that’s healthy, tastes good, and uses classic cooking methods with unique interior design. Chipotle has changed the fast food market and uses the short and sweet mission statement to â€Å"forever provide food with integrity†. The company’s vision statement is â€Å"to change the way people think about and eat fast food† and its mission statement is to provide â€Å"Food with Integrity† (Chipotle, 2014). The vision statement has been successful in driving to its front door where it’s not unusual to see a line leading to the assembly kitchen within an hour of closing. The mission statement is short but the company constantly works to ensure the quality of the food is consistent and fresh and stocks from reliable vendors. The strate gy Chipotle uses in its vision and mission statement is to ensure they are intertwined. Chipotle exemplifies Michael E. Porter’s proposal that managers can make the organization more profitable and less vulnerable by using a differentiation strategy. Chipotle seeks to distinguish it’s food from all others in the industry. It uses the local grown and sustainable products differentiation and its ability to produce food that a good price and produces in high volume that allows the company to make a handsome profit. Even while new fast casual companies such as Noodles and company have come along, no national chains have come close to creating a threat in the type of food that Chipotle makes. One competitive advantage the company has is that the food it serves caters to health consciousness in consumers. This compliance to the healthy food trend comes from shifted consumer sentiment away from food that facilitates obesity. Another competitive advantage is that Chipotle sits somewhere between fast food and casual dining. This is referred to in the article as fast casual dining. Chipotle offers the quality of food that many full-service restaurants serve and pair it with the speed and convenience of fast food. Chipotle prides itself in doing a few things really well. Chipotle only uses ingredients sourced from local suppliers. It is the only national restaurant that has a significant commitment to using local produce on a large scale. All of Chipotle’s ingredients come from within a 350 mile radius of the restaurant where it will be served. This local food supply provides a competitive advantage in the freshness and reliability of the  ingredients it uses. Chipotle also works with local farmers to ensure they use sustainable operations. This sustainable operation in turn allows Chipotle to gain efficiency and ultimately better prices. Chipotle’s marketing strategy focuses on a narrow market segment through use of a differentiation strategy. This focused differentiation strategy’s uses the company’s commitment to providing organic ingredients raised with respect for the animals, the environment and the farmers. This resonates to a large segment of the population who want to deal with companies that stress sustainability. This ultimately contributes to exceptional taste, wholesome nutrition and great value. In order for Chipotle to implement the strategy, consistent relationships with local suppliers is paramount. The assumption is that the less distance the food has to travel, the better. This is a benefit to all involved. The company benefits with being known by the market it serves as serving the local community. The suppliers benefit in that it can deal with a reliable and consistent partner for supplying the food. The local community benefits by improved economy and decent paying jobs. The importance that Chipotle strategy has in industry is that it is a great example of Daft’s organizational goals that states â€Å"The best strategies come from systematic analysis of organizational strengths and weaknesses†¦.† Chipotle does not have a desire to please all customers with every taste. While the average price of a Chipotle burrito is about $7, this is a similar price point as most food places, the company has a relatively narrow customer base of those who want fast casual Mexican food. This focus allows the company to reduce the ingredients and inventory needed. This allows the company to spend more time creating relationships with local supplies to ensure the freshness and integrity of the ingredients. Another thing Managers can learn from the Chipotle model is that of Overall Performance. This is that the performance is expressed in terms of net income, earnings per share, and return on investment. Chipotle’s stock price has increased 600% in the past five years. So while increasing the number of stores in the system, the company has also increased the sales per each store while also improving net income. This in turn follows in the  equation for earnings per share. References Daft, R. (2013). Organization theory & design (11th ed.). Mason, OH: South-Western, Cengage Learning. Article Link: https://docs.google.com/document/d/1pfdTX89Abt8on2NowLB-KY2wSgcxCgDKvaPAsa56dwI/preview?markAsViewed=false