Thursday, May 21, 2020
Media Communications Question 3a. Mass commuincation is the exchanging of information or messages on a large scale to a wide range of people, from individuals to organizational bodies simultaneously. The way in which mass communication is effectively accomplished is a very complex study. These days there are various methods and outlets used to circulate mass media. Particularly the last couple of decades, the Internet has predominantly played a massive role in mass communication, this used in conjunction to newspapers, magazines, radio, television, books and film. Mass media industry was in for significant change post World War Two, researches found mass communication a promising tool to aid change in society. Paul Lazafeld initially developed the Ã¢â¬ËTwo Step Flow of CommunicationÃ¢â¬â¢ during this time, which was to be later defined by Elihu Katz. The two-step flow is essentially the idea that the majority of society forms their opinions from leaders, who have previously been influenced by mass media. (Lazarsf eld Katz, 1955) According to this model, leaders viewpoints have a flow on effect, dispersing from the mass media itself to opinion leaders, then progressing onto the wider population. There have been multiple studies into mass communications which all give evidence how the Ã¢â¬ËTwo Step ModelÃ¢â¬â¢ was a signifcant advance in the role of mass media , this essay will particularly look into three studies, The Peoples Choice study (1944), the War of Worlds (1938) and the DecaturShow MoreRelatedMass Media And Its Impact On The Field Of Communication3001 Words Ã |Ã 13 Pagesand evolution in the field of communication. It was an era when televisions were introduced. They formed a major source of entertainment, news and advertising. Advancements have been made in the field of communication and have resulted to varying and significant changes that have brought magnificent impacts that are witnessed today. Mass media and communication entails diversified media technologies. The tech nologies are purposed to reach large audience who are the mass. There are various types ofRead More The Impact of My Favorite Form of Media in Mass Communication1545 Words Ã |Ã 7 Pages Mass Communication has an immense impact on many individuals in the world from the television, music to books and the radio and many more media outlets. There are affirmative and adverse impacts that we all receive from the media. As for myself there is many constructive forms of media I indulge in. My most preferred form of media overall is the Food Networks American reality TV show series called Diners, Drive-Ins and Dives. I always had an adoration and aspiration for art and I considerRead MoreEssay about Mass Media and Popular Culture1491 Words Ã |Ã 6 PagesMass Media and Popular Culture: Effects on the Population Mass Media and Popular Culture Mass media and popular culture go hand in hand. This paper will discuss the impact of mass media on enculturation, examine the relationships among media, advertising and the formation of normative cultural values, and discuss the impact of the internet on popular culture and the way we communicate today. Real world examples of this impact will be provided to prove our point of view and the overall effectRead MoreMass Media Milestone1700 Words Ã |Ã 7 Pagesthe history of mass media The first variation of a newspaper was published in Rome in 59 BC. It was a daily sheet that Julius Caesar ordered to be distributed all over the city. However, the first newspaper was printed in Beijing in 746 (Flanagin, 452). Also, a forty-two-page bible was published two years later after a German poet used a printing press to post a poem. This was a significant period that marked the beginning of mass media production. Mass media refers to a communication channel thatRead MoreMass Media And Its Impact On Society1195 Words Ã |Ã 5 Pagessuch as the telegraph, radio and eventually television, which enabled communications Ã¢â¬Å"produced at a single source [to be] transmitted to an infinitely large audienceÃ¢â¬ (Fearing, F. 1954), the social impacts of communications via mass media have been a subject of intense research by political and social scientists. This literature review intends to examine the major theories and perspectives on mass media with regard to its impact on so ciety, which existed throughout the 1950Ã¢â¬â¢s and 70Ã¢â¬â¢s. Special attentionRead MoreHistory of Mass Media1150 Words Ã |Ã 5 PagesHISTORY OF MASS MEDIA UNIT PLAN LECTURE AND TUTORIAL:- DAY : MONDAY TIME : 8.00 to 11.00 am ROOM : R4.2 OBJECTIVE To introduce students to the historical development of media, including books, newspapers, magazines, radio and TV broadcasting and cinema. Students will be able to trace the emergence of modern media institutions from their historical roots and discuss the impact of social and technological change. This will be ableRead MoreThe Importance Of Mass Media713 Words Ã |Ã 3 PagesMedia has been changing definetely since itÃ¢â¬â¢s inception; developing with new innovation and changing the way individuals see the world. Well before current types of media happened, individuals saw media through verbal connection and compositons like newsletters. Today, media is seen in many structures: TV, radio, cell phones, web, satellites, daily papers, and more. To comprehend broad communications totally, the concentration must move toward the real improvements in the advancement of mass mediaRead MoreCulture and the Mass Media1400 Words Ã |Ã 6 PagesImpact of Mass Media on Enculturation The mass media and culture go hand and hand in today s society. The American culture thrives on the Mass media and this has become American culture today. Ã¢â¬Å"Mass media is any medium used to transmit mass communication. Until recently mass media was clearly defined and was comprised of the eight mass media industries; books, newspapers, magazines, recordings, radio, movies, television and the Internet (Lane, 2007).Ã¢â¬ The mas media is no longer simple to defineRead MoreWhy Is Medium Is The Massage Essay1528 Words Ã |Ã 7 PagesWhy is Medium Message? Marshall McLuhan, a technological determinist, says in his book Ã¢â¬ËMedium is the massageÃ¢â¬â¢ that the most widespread modern media influence how humans think, act and perceive the world around them. He states that the medium significantly influences the message that people will receive, and thus, the same message is perceived by the same individual in several ways if he receives them in a different way. The expression the medium is the message means that recipient receives messagesRead MoreMass Media Usage813 Words Ã |Ã 4 PagesIntroduction to Media Industries Media Visualization Essay Media Usage Mass media has become a powerful tool in shaping our culture, and is largely reflective of our society today. According to our text book and class lecture notes, mass media can be loosely defined as the technological vehicles through which mass communication takes place, along with the industries which control them. Over the years, mass media, has had a profound effect on American society, on its culture, and on the individuals
Wednesday, May 6, 2020
Collaborative leadership, critical thinking, and ethical and professional practices in teaching special education. Introduction The Special education process is an intensive and carefully planned process that requires collaborative leadership, critical thinking, and extensive professional and ethical practices amongst other core values to execute. These qualities are inculcated in student teachers and teachers during pre and in service trainings respectively, so as to produce professionals who understand what special education is and the implications of having or not having the aforementioned qualities. Special education teacher training programs have trainees undergo intense field experiences that enable them to acquire knowledge and apply skills learnt in order to be effective teachers. A lot is at stake in special education should a teacher be lacking any of the qualities or dispositions. The implications range from legal matters, better school and family relations, and the overall wellbeing of the student. Documents such as the Individualized Education Plans, and the Functional Behavior Analysis etc., req uire utmost confidentiality for the sake of the student and their families. Relationships with colleagues, the administration and the parents require a high level of collaboration and leadership so as to come to leveled, and well-thought conclusions and decisions regarding the studentÃ¢â¬â¢s well being in school, be it socio emotional, intellectual, or physical aspects. TheShow MoreRelatedEssay on Adn vs Bsn Competencies990 Words Ã |Ã 4 PagesNurse? Michelle Phoebe Baltazar Grand Canyon University: NRS-430 July 18, 2012 Abstract In this essay the differences between an Associate prepared nurse versus Bachelor prepared nurse is discussed in correlation to critical thinking, professionalism, and leadership. Differences in Competencies: Who Makes a Better Nurse? Who makes a better nurse? A nurse with an AssociateÃ¢â¬â¢s Degree or a BachelorÃ¢â¬â¢s Degree? The answer would probably depend on who one asks. However, according to AmericanRead MoreStrengths And Weaknesses In Nursing943 Words Ã |Ã 4 PagesNurse leadership critically affects the healthcare environment and the way nurses fulfill their duties in the professional practice. In nursing, leaders bear a great responsibility when delivering services and care to the needy patients so that they enjoy their stay at the facility. Nurses ensure safety and promote health in patients through the optimal contribution in healthcare services and the entire field. Nurse leaders motivate colleagues to move forward towards reaching common goals, and theyRead MoreLeadership And The Development Collaboration1146 Words Ã |Ã 5 PagesLeadership and the Development Collaboration In any collaborative environment, an open-line of communication is a critical factor. Communication is a two way interaction of listening and speaking in turn. One speaks while the other listens for true comprehension is a key factor. One must get an understanding before the vision can be implemented within any leadership role. The presence of collaboration in schools are the result of principals, educators, parents, and administrative leadership in workingRead MoreLearning In The 21st Century Classroom1206 Words Ã |Ã 5 Pageslessons that promote academic success. The importance of instructional planning for student development is connected to differentiated practices, which connects to the following PLO. PLO 2 Differentiated Practice for Diverse Learners would be ranked next to highest as this considers students and in the lessons, that were redesigned the individual and collaborative work of each student had to be taken into consideration. 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Be critical thinking for the future. The organisation has to prepare proactively for the future by building scenarios and responses to emerging trends that could impact them. If the organisation are heading into the future much less prepared because they have noRead MoreLetter Sample Essay757 Words Ã |Ã 4 PagesTheology and Religious Studies Chair at the College of St. Scholastica. I am Dean of the Master of Arts in Religion (MAR) program at Community of Christ Seminary, Graceland University in Lamoni, Iowa. As Dean, I am an experienced teacher and collaborative administrator. I teach online graduate courses in theology and Christian ethics, as well as face-to-face undergraduate courses in religion on our residential campus. I am academic advisor for our MAR students. 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string(41) " as individual training and improvement\." The Balanced Scorecard (BSC) was developed by Kaplan and Norton in the 1990Ã¢â¬â¢s, it is a management system designed to measure the entire performance of a company by measuring all relevant angles of the companyÃ¢â¬â¢s operations. BSC requires the company to retain its core financial measurement, but it goes further and expands the measurement to other important business areas. The BSC looks at the entire business from four perspectives, the customer perspective, financial perspective, the internal business process and the learning and growth perspective. We will write a custom essay sample on Pepsi Saudi Arabia or any similar topic only for you Order Now It collects and analyzes data relevant to the company. And it helps managers to get clearer more meaningful picture of their company, which in turn enables them to plan, improve and execute operational goals. The objective of this paper is to advocate the adaptation of BSC by Pepsi Saudi. The strength and economic advantages of BSC and why it would be beneficial to Pepsi Saudi will be extensively discussed in this presentation. PEPSI SAUDI ARABIA: The Pepsi company of Saudi Arabia is comprised of two key divisions based on the western region of the country, one the Saudi International Project Company (SIPCO) and the other is Saudi Fruit Juice and Beverage Industry (SFJBI). This paper will look at this merger and how it could use the BSC methodology to elevate its entire operation and increase its profit margin. BALANCE SCORECARD (BSC). Developed in the 1990Ã¢â¬â¢s by Kaplan and Norton, balanced scorecard is a business management system that uses measurement to verify strategic plans. It tries to align business operations to the strategies of the business, by measuring the performance of the business in relations to its goals, usually for a given time period. It relies largely on the premise that a business principle or a business function that could be measured could also be improved upon. Ã¢â¬Å"What gets measured gets doneÃ¢â¬ . If a company can establish a measurement system to analyze its performance, then that company can find a way to improve on its performance based on the result of the measurement. Experts generally agree that the companies that take the time to measure their own performance usually does better than the companies who do no possess the tools of measurement. Based on the outcome of a business measurement BSC encourages managers to prioritize their efforts. The BSC does not focus on financial measurements alone, because financial measurement alone can not reveal all the important data needed for long term performance. The balanced scorecard incorporates such business elements based on the customers needs, employees, technology, and other critical elements that could help the company emerge stronger in the future. Essentially BSC takes stock of the whole business. It uses the Ã¢â¬Å"feedback loopÃ¢â¬ to pinpoint all problematic areas and then it develops solutions for them. Managers and employees can then learn from those points that had been identified by the loop. It looks at the companyÃ¢â¬â¢s current position then initiates the necessary strategies for correction. It uses learning, technical innovations and appropriate behavioral shifts and cultural identities to accommodate essential actions for the benefit of the company. BSC also sets aside time to study the applications that have been implemented, and then analyzes the results for effectiveness of those mechanisms or lack of effectiveness. THE FOUR PERSPECTIVES AT A GLANCE: The BSC uses data to articulate performance management with the primary objective being the implementation of corporate strategy. The BSC methodology primarily employs four perspectives: financial, customer, business process perspectives and learning and growth perspectives. It calculates present performance without ignoring the importance of future performance. (1) FINANCIAL PERSPECTIVE: The BSC recognizes the importance of financial data, but it does not want the emphasize on financial data to overshadow the other necessary perspectives that deserve equal amount of attention. In BSC adequate, timely and accurate funding are seen as key business requirements. But the BSC methodology goes a little further, it emphasizes that financial data be included in the corporate data base and be available by automation. The BSC method also explores financial risk assessments and cost benefit analysis as part of the data collection in the financial perspective. (This will be discussed in detail in the main body of the study) (2)CUSTOMER PERSPECTIVE: The BSC methodology advocates customer focus and satisfaction, it insists that the company must not only satisfy its customers but it must do so without losing money in an attempt to provide superior services or products to those customers. According to the BSC, the customer perspective is a key indicator of the functional health of the company. Poor customer performance is usually an indication of corporate performance in the future. If the customers are not satisfied they will take their businesses somewhere else, and that is an indication of poor business performance in the future. BSC mandates a satisfaction metric to measure the customer satisfaction. The aim is to identify all customer groups, analyze their needs and provide services to them accordingly. But the company cannot afford to lose profitability in an attempt to satisfy its customers. ( This will be discussed in detail in the main body of the study). (3) BUSINESS PROCESS PERSPECTIVE: The BSC defines this as the internal process. It enables the managers to become familiar with the functions of the company, and it services and operations. It makes sure that the products and services meets the requirement of the customers. This is highly internal, i. e the process is preferably developed and handled by corporate managers and workers as who have intimate knowledge of the company, as opposed to consultants who are essentially corporate outsiders. The mission oriented process refers to the functions of government offices, and they could present some unique problems. On the other hand, the support process is more repetitive and generic and therefore easier to measure. (This will be discussed in detail in the main body of the study). (4) LEARNING AND GROWTH PERSPECTIVE: The BSC describes this perspective as employee training in corporate culture as well as individual training and improvement. You read "Pepsi Saudi Arabia" in category "Papers" It sees employees as the mainstay of the corporation. The training would be regular and continuous. The idea is to avoid Ã¢â¬Å"brain drainÃ¢â¬ from the company. So employees would be trained in all new and relevant technologies. Kaplan and Norton emphasized that Ã¢â¬Å"learning is more than trainingÃ¢â¬ , it includes mentors and tutors in the organization. (KaplanNorton 1996). (This will be discussed in detail in the main body of the study). CAN PEPSI SAUDI BENEFIT FROM BSC? To answer that question it is important to know where Pepsi Saudi came from in terms of business its identity and then analyze the reasons it chose to adopt the BSC management module, and then superimpose the analysis on the reports of other corporations that have adopted the BSC. It is worth noting that PepsiÃ¢â¬â¢s decision to join the ranks of companies that have chosen to implement BSC was not made in a vacuum. The fact is that BSC had become a familiar and efficient working module for many successful companies. Also Pepsi Saudi has had its own incredible business and financial success, and by adopting BSC it chose to follow many world class businesses. With the implementation of the balance scorecard methodology, Pepsi Saudi have joined ranks with such business heavyweights as Exxon mobile, British telecommunications worldwide, Hilton hotels, IBM, UPS, Volvofians of Sweden and much more. These are impressive list of companies, and again the decision for them to adopt the balanced scorecard system was not made in a vacuum, because the stakes are too high. On February 2nd 2002 the AME-INFO reported the merger of Saudi industrial projects company (SIPCO) and Saudi Fruit Juice and Beverage industry (SFJBI) in the western region of Saudi Arabia. The reasons for the merger were many, they wanted to expand their command of the beverage industry, and they wanted to remain the best manufacturing operation in the industry. It is not difficult to imagine that Pepsi Saudi would adopt BSC in order to maintain its dominance of the industry. Before the merger it introduced the Pepsi twist (Pepsi taste laced with a twist of lemon) Ã¢â¬Å"in order to satisfy customers demand for something extra in their soft drinkÃ¢â¬ AMEINFO October 8th 2001. It unfolded many ad campaigns designed to capture new customers and retain old ones. The ad campaign targeted all major social events of the kingdom, including football games that featured the stars of the popular sport. As this study will show continue the company has continued to grow under BSC. FRAMEWORK: Because of the success of balance scorecard, there are enormous volumes of information on the practice of BSC, but this study will examine the phenomenon of balance scorecard with Saudi Pepsi as the reference agency. The study will review the book (Translating strategy into action) by Kaplan and Norton as well as many relevant literature on the subject. It is the position of this study that BSC is a genuine business elevator, so this project will make the necessary efforts to present authentic evidence in support of that position. RESEARCH OBJECTIVES: The objectives of this study are to outline and analyze the fundamental principles of the Balanced Scorecard system. The paper will trace the formulation of the system and review some of the available data on its effectiveness. Also the paper will make an objective judgement on the advantages and disadvantages of its application. Since this is designed to ascertain the adaptability of BSC to Pepsi of Saudi Arabia, the paper will conclude with a critical insight on how Pepsi could benefit from BSC, based largely on data from the performance review of other corporations that have implemented the BSC management system. QUESTIONS EXPECTED TO BE ADDRESSED BY THIS STUDY: Though questions abound on this study, but this discourse will focus greatly on the matters that address the application, and the structure of Balance Scorecard. The major perspectives as advanced by Kaplan and Norton will be presented and analyzed in depth . It must be emphasized that the system is an objective, responsive system. It could be followed with appropriate data analysis, and adjustments could be made when desirable. The paper will provide the necessary steps that could be followed in order to attain a desired result. Because this dialogue has taken sides in favor of the BSC, it will clearly present the known benefits of implementing the system. But it must be emphasized that there are some drawbacks in the BSC system. Those drawbacks would equally be outlined. All the important steps in the implementation of the BSC will be discussed, and the different roles that different levels of a corporate entity would need to play will be enumerated as well. All of the team members must not only make a commitment, they must participate in the process. Every department must know its participating role in the implementation of BSC, and this work will detail what those roles ought to be, and how to ensure that they are diligently executed. It should also be recognized that it is not enough to design and construct a BSC, the question is would it be used? No benefits would accrue if the built BSC is not used. Of course the most important question is that of the applicability of the system by Pepsi Saudi, that question will be adequately addressed in this process. CHAPTER TWO: BOOK AND LITERATURE ANALYSIS. PERFORMANCE MEASUREMENT: Before the advent of BSC, a questionnaire by the national association of accountants indicated that about 60% of accountants were Ã¢â¬Å"not satisfied by their performance measurement systemÃ¢â¬ , primarily because of its reliance on purely financial metrics. But since the implementation of BSC that dire view is turning around. (Nevin 2003). Performance measurement technique is used to compile data on many subjects, high school academicians use performance measurement to keep record of behaviors of students whose behaviors required to improvement. The significant point here is that the actual behavior improvement could be measured empirically, scientifically and with discerning accuracy. So it is not surprising that corporations would also adopt performance management system. Corporations use performance measurement to keep record of its effectiveness, and its efficiency. It is used to tabulate quality and productivity. It is also used to keep records of timeliness and safety. (Nevin, Paul 2003). With an effective performance measurement system, companies can a develop a sustainable structure for its strategic planning, and its goals. It helps companies assemble a clear mission, with appropriate resources, on long term intervals. With it companies can maintain accountability for its performance or lack of performance. By using performance measurement companies are better able to analyze and validate its results. It can also use it to acquire timely feedbacks, which could be used to change the direction of a given project or to move a project forward. So in total, performance measurement could help and organization to make informed decisions, to appraise its performance and to initiate an improvement as needed. (Nevin, Paul 2003). I suppose we can say that performance measurement is a close Ã¢â¬Å"cousinÃ¢â¬ of BSC. However a performance measurement system could limit its benefits if it loses sight of key performance drivers. And it could be quite expensive to set-up a performance measuring unit, but most companies seem to agree that the cost is worth it at the long run. (Kaplan Norton 1996). BALANCED SCORECARD, Ã¢â¬Å"DEFINITIONÃ¢â¬ What is scorecard, how can we define scorecard, is it possible to provide a total comprehensive meaning? Scorecard is not a one word definition system, so in order to do justice to the question, what is scorecard, it is necessary to take a comprehensive approach to that question. Ã¢â¬Å"If you can measure it you can manageÃ¢â¬ that is the guiding concept behind the BSC management philosophy. The balanced scorecard system was designed by Kaplan and Norton in the 1990Ã¢â¬â¢s with the objective of giving managers the tool to look into the long term prospect of their organizations with some measure of reliability. So the BSC is both a management and a measurement tool that when fully and accurately implemented will enable businesses to develop their own vision, and their own strategy, and then translate those business elements into business actions. It is a system that can give businesses an authentic feedback about their internal and external results. And that in turn would enable them to develop a genuine strategy. Since a company with superior strategy and a way of measuring the results of its performance functions do better than companies that do not posses similar tool. (Kaplan Norton 1996). With BSC managers are able to a maintain a clear insight into the operations and management of all business units. It gives the manager the picture that he needs to see how the business is performing when it is compared against the plans, and stated objectives of the business. If a discrepancy is observed between the goals and the actual results, BSC enables practitioners to delve in and correct the noticed discrepancy. And when corrections are made effectively, the business would then redirect the necessary efforts and resources back to the expected reports. It has been abundantly documented that companies that use BSC have a highly accurate and generally dependable view of their entire operations and its performance. BSC does not simply employ financial metrics in its measurements, but it uses customer satisfaction, technical and intellectual innovations, market share and market competition to garner better more reflective and more comprehensive results of company operations and performance. And there are very little doubts that this system is effective for those companies that have designed and executed the system. (Nevin 2003). A comprehensive survey/questionnaire conducted by CIO. Com, Balancedscorecard. org, and Microsoft. com revealed that companies that employ BSC Ã¢â¬Å"have improved their financial and future position in the market placeÃ¢â¬ . (Studentweb. tulane. edu). A study by Nevin 2003 indicates that about 50% of fortune 1000 corporations now have employed some form of BSC management performance metrics. (Nevin 2003). That alone means that all of these companies have used the BSC system to position themselves on a better financial and management future. With BSC organizations are able to articulate a comprehensive strategy towards desired performance, and implementation success. On the whole the BSC system employs tree main systems in order to accomplish its objectives. It uses the measurement system, the strategic management system, and the communication tool. (Nevin 2003). These three factors present only as translation tool to the entire strategy of the BSC business system. The measurement system of BSC uses the Ã¢â¬Å"lead indicatorsÃ¢â¬ to forecast future business environment. It reveals the strategy via long term management that focuses on customer satisfaction, innovation and recognition of potential market competitors. It seeks out innovation for the benefit of superior products. It deploys essential resources in order to capture customers that it would retain for the long run. It looks for realistic ways to retain its customers. And it combines all of those factors for both effectiveness and efficiency. It is the measurement aspect of BSC that fully engages the four perspectives, so these perspectives will be discussed here in a little more detail. The four perspective as have been mentioned on this discourse include the customer perspective, the internal process perspective, and the learning and growth perspectives. CUSTOMER PERSPECTIVES REVISITED: When a business loses the drive to pursue and retain customers, it loses its soul and therefore the right to exist. No business can function, thrive or prosper without a reliable customer base. In the customer perspective theory BSC makes it clear that it is not only essential to know who the target customers are and how a business can better serve that customer base. The BSC identifies three primary ways of providing services to customers in the Balance scorecard system. Operational excellence emphasizes low prices, and convenience ( Nevin 2003). Product leadership focuses on providing the best product in the market. In customer intimacy the business stresses the development of long term relationships with the customer, doing whatever is necessary to know what it is that the customer truly wants. It does so while maintaining as much knowledge as possible of its customers. The reason for these efforts in acquiring superior customer knowledge comes down to the point that the businesses are attempting to provide as much satisfaction to the customers as possible. The other reasons include customer loyalty and the need for more market share. (Balancedscorecard. org. ) INTERNAL PROCESS PERSPECTIVE REVISITED: This area focuses on identification of the things that would need to be done in order to continue to add value to the customers and ultimately to the shareholders (Nevin 2003). The internal process aims to serve the customer and increase the total value of the organization, as well as keep record of the companies progress. The teamÃ¢â¬â¢s objective is primarily to develop better products, to find better ways of manufacturing better products. To find better ways of delivering their products, and to find better ways of delivering better services after the products had been delivered. LEARNING AND GROWTH PERSPECTIVE REVISITED: This may actually be the most important aspect of the entire process. Organizations would get as far as their employees could take them. A team that lacks knowledge may not be able to provide the necessary services required by the customers. Therefore genuine effort must be made to keep employees abreast of necessary information. And that is what the learning and growth perspective tries to define. It emphasizes that information be made available to the employees. It requires the employees skills be as sharp as necessary. It does not want employees to be ignored. Again the key here is that any organization would only go as far as the employees could take it. With adequate care and education, employees can only do better for the company. It is important to point out that the BSC system does not ignore the financial perspective. But the key is that when a company has satisfied the other objectives, that company stand a pretty good chance of doing well financially. BALANCE SCORECARD AS A STRATEGIC MANAGEMENT SYSTEM: Obviously putting a business and management strategy is important, but no strategy will function if it does not actually get implemented. So the first step in resolving the issue of non-implementation, is to identify what the potential problems towards implementation may be, and then address those issues. According to fortune magazine (1999) about 70% of strategies are poorly executed, so how can it be executed better. Both the team and the management must pay attention to the four barriers: the vision barrier, the people barrier, the resource barrier, and the management barrier. (1) VISION BARRIER: To overcome the vision barrier, employees must not be kept in the dark. The BSC wants management to be very clear as to what the vision is. When possible place a figure on the vision . For instance if the goal is to manufacture products without defects 90 % of the time, then it may be made clearer by stating exactly that. That figure of 90% translates the vision to a level that could not be misunderstood. Give the employees the appropriate knowledge base and strategic structure, that makes the entire strategic objective easier to follow. Management should facilitate a total understanding of the strategy and the whole structure in order to enable all the team members to fully understand the strategy and therefore work towards achieving it as a unit. (Kaplan Norton) (2) PEOPLE BARRIER: In order to overcome the people barrier, BSC outlines a system known as cascading. Essentially it give all of the team members or all of the employees a chance to actually demonstrate exactly how they contribute to their teams objective. The entire system is driven from the top to the bottom. Management would be able to have Ã¢â¬Å"direct line of siteÃ¢â¬ to all levels by implementing the cascade system. the management would need to redesign how it awards incentives. When the focus is on rewarding long term achievement as opposed to short term, employees tend to respond with long term focus, as they work towards achieving the goal. So if long term objectives are created and proper values and incentives placed on them, then the rest of the team would naturally follow. This is an important point because, when employees are rewarded based on short term expectations, then the entire effort would be based on attaining that short term incentive. (3) RESOURCE BARRIER: For the resource barrier, an organization that is genuinely concerned about achieving BSC must allocate adequate budgetary resources to it. To do otherwise would simply be folly. No strategy would get off the ground without real financial commitment. Human and financial resources should be part of the consideration during the planning of the strategy. It just would not make sense not to allocate the necessary resources. (4) MANAGEMENT BARRIER: The last barrier is the management barrier, there is really no doubt that management participation about the importance of an earnest management participation in order for the strategies to work. If management would not show true commitment, then why would the rest of the team. If the team leader is absent why would any one else pay attention. (Nevin 2003). When learning is prescribed as part of the strategy and when accurate evaluation are made based on the numbers from the scorecard, then its easier to read the results and compare them to the original hypothesis. If the report does not measure up to the hypothesis, then a different approach would be necessary. The point is that if all of these four strategic elements are implemented, and the required evaluations are made regularly, the company gives itself stands an excellent chance of reversing course if the numbers indicate so. CRITICAL OBSERVATIONS: It would be unrealistic to think that the entire system would not have some criticisms, and there are some legitimate questions on how effective the system really is. For sure it is an expensive proposal to implement. It requires that management and team leaders must have hands on approach in order to achieve the stated goals. But it is not always easy to have that kind of high level participation. So it could be a problem. (Molleman 2007). Some have argued that it is difficult to relate one measurement to the other. For instance, how could a change in one perspective have a direct correlation to another. It is not quite clear how change in a particular measure would affect another measure. Others have argued that BSC does not address what the appropriate balance ought to be when addressing the stakeholder value. Davidson 2002, reports that the BSC correctly anticipates the value for the shareholders and the customers, but it does not articulate the needs of the employees. It also asserts that the requirement for top management participation centralizes the methodology on the high level management. In a project that requires a good degree of knowledge, Davidson argues that the top-down approach may not be the best. But on the issue of management participation, if the commitment is high enough, then management ought to be able to find the time to allocate to the idea, because the long term benefits could be enormous ,if the system is followed correctly. The point is that the benefits negates the shortcomings. All indication is that BSC is a business method that is worth pursuing, and there are definite measures that could be taken in order to mitigate some of the shortcomings. If an organization follows the directives that were outlined by Kaplan an Norton, then they would have significantly elevated their chances for success in their endeavor. First Kaplan and Norton insists that on the question of wether an organization is applying the right measure of perspectives, they recommend that a stable BSC should have a good balance of both lagging and leading indicators. That would enable them to see a clear picture of not only past efforts but also the plans of the future. A company should not implement too many indicators. Organizations should focus on those indicators that clearly addresses their strategy. So with the correct combination of lagging and leading indicators as well as the correct mixture of the most critical indicators, Kaplan and Norton belief that the organization would do just fine. (Kaplan Norton 1996). They also advised against making a Ã¢â¬Å"quantitative linkÃ¢â¬ between non financial indicators and financial indicators. Since lag time may be influenced by many factors, it is not advisable to link non financial indicators and financial indicators. Also Kaplan and Norton observed that failure would almost be guaranteed if senior management simply dump the system to middle management. Therefore it emphasizes that senior management must remain engaged, it must define the performance measurement, thereby making the objective clear to all levels of the team. It is not enough to have a senior leadership, if the senior leadership is not working with the rest of the team to achieve the objective. All segments of the company or organization would need to be involved in order for the BSC to work as designed. Developing the process does not have to be protracted, because if implementing it becomes too long then strategies may change during this period, and that would not be a good for the process. Therefore they recommend that the development process ought to be short. (Kaplan Norton). It would be inadvisable to use the BSC just for compensation purposes, therefore it is recommended that compensation be linked only when it is involved in translating strategy. THE IMPLEMENTATION OF BALANCED SCORECARD. The two main phases of BSC are the planning phase and the development phase. Because different organizations operate differently, it may not be realistic to expect companies to follow one particular route to the implementation of the system. But Nevin 2003 drew an implementation Ã¢â¬Å"mapÃ¢â¬ that could aid any organization as it plows through the difficulty of planning and implementation. How to cite Pepsi Saudi Arabia, Papers
Friday, April 24, 2020
Introduction This paper analyzes data of three hundred individualsÃ¢â¬â¢ health records. The data summarizes the diabetes status of the sample and presents their medical, social, physical and economic characteristics. Previous public-health studies have investigated and identified the relationship between variables and the prevalence of diabetes. The results will be compared with the findings of previous research on diabetes.Advertising We will write a custom report sample on The Effect of Physical, Social, and Health Variables on Diabetes specifically for you for only $16.05 $11/page Learn More Ten variables used to analyze the results were gender, race, salary, education, height, weight, Body Mass Index (BMI), allergies, family history of diabetes, and family history of allergies. Subsequent sections analyze the relationships between the variables. Analysis The relationship between each variable and diabetes may be observed by comparing the mean valu es for the two groups. Table 1 summarizes the mean values of the numerical variables for participants in the two groups. Table 1: Descriptive Statistics of Numerical Variables Diabetes N Mean Age Yes 109 70.47 No 191 38.95 Salary Yes 109 $70,226.45 No 191 $45,522.11 Height Yes 109 70.42 No 191 65.02 Weight Yes 109 187.87 No 191 142.70 BMI Yes 109 26.524 No 191 23.563 Two findings are deducible from the results presented in the table. The average age of those with diabetes was 70.47. However, those without diabetes had an average age of 38.95 years. This finding is supported by a previous study which reported that the decline in protein synthesis in aging tissues increased the risks of diabetes in older people (Yamamoto, et al., 2014). The effect of income on diabetes is observed in the table. The average salary of those with diabetes is $45,522 and for those without diabetes is $70,226.45. These findings can be compared with previous research that suggeste d low-income earners were more likely to have diabetes than their wealthier counterparts (Lysy, et al., 2013). Although discrepancies can be observed in the mean scores between the two groups, it is important to test the level of significance of these variations. Chi-Square tests and t-tests were used to investigate the significance of the difference in mean values.Ã Table 2 summarizes the results of the Chi-square test. The p-values for salary (0.001), height (0.000), weight (0.000), BMI (0.000), family history of diabetes (0.000), and family history of allergies (0.000) showed the variables were related to diabetes.Advertising Looking for report on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More The results are similar to previous studies, which suggest that income (Lipscombe, Austin Manuel, 2010), physical characteristics (Narayan Boyle, 2007), and family history (Uusitupa, Stancakova, Peltonen, Eriksson, 2011) are r elated to diabetes. Table 2: Chi-square values and p-values Chi-Square value p-value Gender .181 .670 Race 2.074 .839 Age 284.542 .152 Salary 289.193 .001 Education 2.897 .408 Height 175.981 .000 Weight 175.981 .000 BMI 163.689 .000 Allergies .010 .922 Family history diabetes 143.728 .000 Family history allergies 166.699 .000 Table 3 summarizes the p-values derived from the t-test. The findings are similar to the p-values derived from the chi-square tests however the p-value for age (0.000) derived from the t-test suggests a significant relationship between age and diabetes (Creatore, Moineddin Booth, 2010). Table 3: t-test values and p-values t-test value p-value Gender -.424 .672 Race -1.44 .885 Age 20.091 .000 Salary 7.794 .000 Education -.336 .737 Height 16.633 .000 Weight 16.331 .000 BMI 14.352 .000 Allergies .098 .922 Family history diabetes -16.555 .000 Family history allergies 19.304 .000 References Creatore, M. I., Moineddin, R., Booth, G. (2010). Age- and sex-related prevalence of diabetes mellitus among immigrants to Ontario, Canada. CMAJ, 182(8), 781-789. Lipscombe, L. L., Austin, P. C., Manuel, D. G. (2010). Income-related differences in mortality among people with diabetes mellitus. CMAJ, 182(1), E1-E17. Lysy, Z., Booth, G., Shah, B., Austin, P., Luo, J., Lipscombe, L. (2013). The impact of income on the incidence of diabetes: a population-based study. Diabetes Research for Clinical Practice, 99(3), 372-379.Advertising We will write a custom report sample on The Effect of Physical, Social, and Health Variables on Diabetes specifically for you for only $16.05 $11/page Learn More Narayan, K. M., Boyle, J. P. (2007). Effect of BMI on lifetime risk for diabetes in the U.S. Diabetes Care, 30(6), 1562-1562. Uusitupa, M. I., Stancakova, A., Peltonen, M., Eriksson, J. G. (2011). Impact of Positive Family History and Genetic Risk Variants on the Incidence of Diabet es. Diabetes Care, 34(2), 418Ã¢â¬â423. Yamamoto, K., Kitano, Y., Shuang, E., Hatakeyama, Y., Sakamoto, Y., Honma, T., Tsuduki, T. (2014). Decreased lipid absorption due to reduced pancreatic lipase activity in aging male mice. Biogerontology, 15(5), 463-473. This report on The Effect of Physical, Social, and Health Variables on Diabetes was written and submitted by user Kailynn Salas to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.
Tuesday, March 17, 2020
Frankenstein Themes, Symbols, and Literary Devices Mary Shelleys Frankenstein is a 19th-century epistolary novel associated with both the Romantic and the Gothic genres. The novel, which follows a scientist named Frankenstein and the horrifying creature he creates, explores the pursuit of knowledge and its consequences, as well as the human desire for connection and community. Shelley depicts these themes against the backdrop of a sublime natural world and reinforces them using symbolism. Pursuit of Knowledge Shelley wrote Frankenstein in the midst of the Industrial Revolution, when major breakthroughs in technology were transforming society. One of the central themes in the novel- manÃ¢â¬â¢s pursuit of knowledge and scientific discovery- explores the subsequent anxieties of this period. Frankenstein is obsessed with uncovering the secrets of life and death with ruthless ambition; he disregards his family and ignores all affection as he pursues his studies. His academic trajectory in the novel seems to mirror mankindÃ¢â¬â¢s scientific history, as Frankenstein begins with the medieval philosophies of alchemy, then moves on to the modern practices of chemistry and mathematics at university. Frankensteins efforts lead him to discover of the cause of life, but the fruit of his pursuit is not positive. Rather, his creation only brings sadness, misfortune, and death. The creature Frankenstein produces is an embodiment of manÃ¢â¬â¢s scientific enlightenment: not beautiful, as Frankenstein thought he would be, but vulgar and horrifying. Frankenstein is filled with disgust at his creation and falls sick for months as a result. Catastrophe surrounds the creature, who directly kills FrankensteinÃ¢â¬â¢s brother William, his wife Elizabeth, and his friend Clerval, and indirectly ends the life of Justine. In his search for the root of human life, Frankenstein created a deformed simulacrum of man, privy to all the usual human degradations. With the disastrous consequences of FrankensteinÃ¢â¬â¢s achievement, Shelley seems to raise the question: does merciless pursuit of knowledge ultimately cause more harm than good to humankind? Frankenstein presents his story to Captain Walton as a warning for others who wish, like he did, to be greater than nature intended. His story illustrates the downfall caused by human hubris. At the end of the novel, Captain Walton appears to heed to the lesson in FrankensteinÃ¢â¬â¢s story, as he calls off his dangerous exploration to the North Pole. He turns away from the possible glory of scientific discovery in order to save his own life, as well as the lives of his crewmen. Importance of Family In opposition to the pursuit of knowledge is the pursuit of love, community, and family. This theme is most clearly expressed through the creature, whose singular motivation is to seek human compassion and companionship. Frankenstein isolates himself, puts aside his family, and ultimately loses those dearest to him, all for his scientific ambition. The creature, on the other hand, wants precisely what Frankenstein has turned away. He especially wishes to be embraced by the De Lacey family, but his monstrous physique bars him from acceptance. He confronts Frankenstein to ask for a female companion, but is betrayed and cast away. It is this isolation that drives the creature to seek revenge and kill. Without Frankenstein, his proxy for a Ã¢â¬Å"father,Ã¢â¬ the creature is essentially alone in the world, an experience that ultimately turns him into the monster he appears to be. A scene from the 1931 film adaptation of Frankenstein.. Archive Photos / Getty Images There are multiple orphans in the novel. Both the Frankenstein family and the De Lacey family take in outsiders (Elizabeth and Safie respectively) to love as their own. But these characters are markedly dissimilar to the creature, as they are both nurturing, matriarchal figures to fill in for the absence of mothers. Family may be the primary source for love, and a powerful source for purpose in life at odds with the ambition for scientific knowledge, but it is nevertheless presented as a dynamic in conflict. Throughout the novel, family is an entity fraught with the potential for loss, suffering, and hostility. The Frankenstein family is torn apart by revenge and ambition, and even the idyllic De Lacey family is marked by poverty, the absence of a mother, and a lack of compassion as they turn the creature away. Shelley presents family as an important means for love and purpose, but she also depicts the familial bond as complicated and perhaps impossible to achieve. Nature and the Sublime The tension between the pursuit of knowledge and the pursuit of belonging play out against the background of sublime nature. The sublime is an aesthetic, literary and philosophical concept of the Romantic period that encapsulates the experience of awe in the face of the natural worldÃ¢â¬â¢s extreme beauty and greatness. The novel opens with WaltonÃ¢â¬â¢s expedition to the North Pole, then moves through the mountains of Europe with the narratives of Frankenstein and the creature. These desolate landscapes mirror the problems of human life. Frankenstein climbs Montanvert as a way to clear his mind and minimize his human sorrows. The monster runs to the mountains and glaciers as refuge from civilization and all its human fallibilities, which cannot accept him for his faÃ §ade. Nature is also presented as the ultimate wielder of life and death, greater even than Frankenstein and his discoveries. Nature is what ultimately kills both Frankenstein and his creature as they chase after one another further into the icy wilderness. The sublime uninhabited terrains, of equal beauty and terror, frame the novelÃ¢â¬â¢s confrontations with humanity so that they underline the vastness of the human soul. Symbolism of Light One of the most important symbols in the novel is light. Light is tied to the theme of knowledge as enlightenment, as both Captain Walton and Frankenstein search for illumination in their scientific pursuits. The creature, by contrast, is doomed to spend much of his life in darkness, able to walk around only at night so that he may hide from humans. The idea of light as a symbol for knowledge also refers back to PlatoÃ¢â¬â¢s Allegory of the Cave, in which darkness symbolizes ignorance and the sun symbolizes truth. The symbolism of light arises when the creature burns himself in the embers of an abandoned campfire. In this instance, fire is both a source of comfort and danger, and it brings the creature closer to the contradictions of civilization. This use of fire links the novel with the myth of Prometheus: Prometheus stole fire from the gods to aid in humankindÃ¢â¬â¢s advancement, but was eternally punished by Zeus for his actions. Frankenstein similarly took a kind of Ã¢â¬ËfireÃ¢â¬â¢ for himself, by harnessing a power not otherwise known to mankind, and is forced to repent for his actions. Throughout the novel, light refers to knowledge and power and weaves in myths and allegories to make these concepts more complex- calling into question whether enlightenment for humankind is possible to achieve, and whether or not it should even be pursued. Symbolism of Texts The novel is filled with texts, as sources of communication, truth, and education, and as a testament to human nature. Letters were a ubiquitous source of communication during the 19th century, and in the novel, they are used to express innermost feelings. For example, Elizabeth and Frankenstein confess their love for one another through letters. Letters are also used as proof, as when the creature copies SafieÃ¢â¬â¢s letters explaining her situation, in order to validate his tale to Frankenstein. Books also play an important role in the novel, as the origin of the creatureÃ¢â¬â¢s understanding of the world. Through reading Paradise Lost, PlutarchÃ¢â¬â¢s Lives and the Sorrows of Werter, he learns to understand the De LaceyÃ¢â¬â¢s and becomes articulate himself. But these texts also teach him how to sympathize with others, as he realizes his own thoughts and feelings through the characters in the books. Likewise, in Frankenstein, texts are able to portray the more intimate, emotional truths of the characters in ways that other forms of communication and knowledge cannot. The Epistolary Form Letters are also important to the novels structure. Frankenstein is constructed as a nest of stories told in epistolary form. (An epistolary novel is one told through fictional documents, such as letters, diary entries, or newspaper clippings.) The novel opens with WaltonÃ¢â¬â¢s letters to his sister and later includes the first-person accounts of Frankenstein and the creature. Because of this format, the reader is privy to the thoughts and emotions of each individual character, and is able to sympathize with each one. That sympathy extends even to the creature, with whom none of the characters within the book sympathize. In this way, Frankenstein as a whole serves to demonstrate the power of narration, because the reader is able to develop sympathy for the monster through his first-person storytelling.
Sunday, March 1, 2020
9 Signs Your Boss Secretly Hates Everything About You Everybody wants to be liked- especially by their boss. Your job can go from wonderful to awful based on your relationship with your boss. If you feel yours is lacking- or something is just plain off- then you might want to think about whether any of these signs apply.Ã Whatever discord there is might just be in your head, but just in case, see if you recognize any signs. If you do, maybe itÃ¢â¬â¢s time to have a chat with him/or or HR. 1. You feel it in your gut.DonÃ¢â¬â¢t discount your own intuition! If you just feel like your boss hates you, it might be true. DonÃ¢â¬â¢t rely on this sign only, but itÃ¢â¬â¢s not one to be discarded lightly.2. YouÃ¢â¬â¢re never asked for input.And youÃ¢â¬â¢re left out of key decision processes. ItÃ¢â¬â¢s almost as if you donÃ¢â¬â¢t exist.3. ThereÃ¢â¬â¢s no eye contact.You can tell a lot from your bossÃ¢â¬â¢s body language and eye contact. If youÃ¢â¬â¢re being avoided, youÃ¢â¬â¢ll be able to tell physically. Almost as if it p ains them to look you directly in the eyes- let alone smile or laugh!4. You are getting micromanaged.You- and only you- are being hovered over. If your boss is just a micromanager in general, thatÃ¢â¬â¢s one thing. But if itÃ¢â¬â¢s only in your direction, this could be a sign that you just arenÃ¢â¬â¢t trusted.5. YouÃ¢â¬â¢re avoided.Your boss seems to go out of his way to dodge you in the corridors or elevators. He communicates with you only over email- even when your office is right next door. And when he does come close enough to you- say you show up at hisÃ office door- he doesnÃ¢â¬â¢t acknowledge your presence. ThereÃ¢â¬â¢s no exchange of good morning/evening pleasantries either- you arenÃ¢â¬â¢t included in any jokes or banter.6.Ã ThereÃ¢â¬â¢s a sense of snippiness.You get monosyllabic answers to genial questions. Emails are not opened with a friendly salutation or a well-meaning sign off. Basically, your boss is acting like a teenager. This is not a great sig n. Does your boss make small talk about personal things with your other coworkers but not you? Also not a great sign.7. You donÃ¢â¬â¢t get enough feedback.Some managers are just terrible at giving feedback- especially positive feedback. If you get negative feedback, itÃ¢â¬â¢s usually super public. But if you find youÃ¢â¬â¢re getting no feedback, while your co-workers are getting constructive criticism and pats on the back, then you have a problem.8. The door is always closed.ThereÃ¢â¬â¢s nothing like looking at a closed door to make you feel like youÃ¢â¬â¢re not welcome. Whether itÃ¢â¬â¢s to your bossÃ¢â¬â¢s office, or to a big important meeting that you canÃ¢â¬â¢t seem to get invited toÃ¢â¬ ¦ you might be out in the cold.9. You get all the worst jobs.You keep getting assigned tasks that are way beneath your level and your pay grade- just busywork that offers no challenge. And no matter how well you accomplish each task, youÃ¢â¬â¢re not moving forward. In fact, yo u seem to be moving backward.
Friday, February 14, 2020
Why Shanghai Free trade zone is a threat to Hong Kong - Essay Example In addition, it had one of the largest stock markets in the world. However, the Sino-Japanese War destroyed Shanghai. It was further shut down from 1949-1978 during the communist rule from any financial activities. In 1950, the Shanghai Stock Market was effectively shut down; thus, closing down Forex trading and speculation. Cai (2010) adds that there was the reallocation of financial institutions from Shanghai to Beijing. According to Chen (2007), the communist government gave a directive that the Soviet mode of heavy industry be adopted for ShanghaiÃ¢â¬â¢s development. The impractical economic and political policies adversely affected the cityÃ¢â¬â¢s infrastructure and economy. Consequently, many financiers and entrepreneurs left Shanghai for Hong Kong or overseas. While the economy of Shanghai was drastically declining, Hong Kong was developing fast and securing a place in the global economy. Nonetheless, economic reforms in China began in 1978, but ShanghaiÃ¢â¬â¢s economic reforms started in 1990. Its economy has gradually been growing annually at the rate of 12%, and there has been reestablishment of financial activities in the city. Globally, Shanghai possesses a strong competitive manufacturing base. However, the economy is changing from export-oriented manufacturing to high-end services, such as, technology, finance and business. The gains it has made from this shift are evident in the GDP, that is, service sector gives a GDP of 60.7% whereas 39.3% of the GDP comes from manufacturing. It also has established capital markets, which are: the Shanghai Futures Exchange (SHFE), the Shanghai Stock Exchange (SSE) and the Shanghai Gold Exchange (SGE). In 2012, ShanghaiÃ¢â¬â¢s bonded zones had a trade volume of more than $100 billion. By comparison, New Jersey and New York ports recorded a combined trade volume of $210.5 billion last year. It is projected that Shanghai, being a free trade zone, is likely to surpass the combined trade volume of New Jersey and New York in the next few years. According to the World Shipping Council, the tonnage, that is, the twenty-foot equivalent units (TEUs) of container weight, reported from ShanghaiÃ¢â¬â¢s ports was higher than that of Hong Kong and Singapore. ShanghaiÃ¢â¬â¢s ports had 31.7 million tons in 2011, which went up in 2012 to 32.58 million tons. Singapore had 31.64 million TEUs, whereas Hong Kong had 23.10 million TEUs (Knight & Ding, 2012). Shanghai has a geographical advantage over Hong Kong, which has favored its development into the biggest and prosperous port city. It is flanked with the ocean and rivers, which provides the natural foundation for its development. It is well linked to other locations of the country, which makes it one of the main towns in southeast China. Shanghai is positioned halfway next to ChinaÃ¢â¬â¢s eastern coastline, and on the eastern tip of Yangtze River Delta. In the north, it borders Yangtze RiverÃ¢â¬â¢ estuary; to the south, it borders Hangzhou Bay and to the west, it borders Zhejiang and Jiangsu Provinces. It also borders the Huangpu River to the west. This means that the port has the capability of handling many cargo ships, as compared to Hong Kong, which is evident in the high tonnage it reported compared to Hong Kong (Cai, 2010). One of the key policy changes that will enhance the success of the Shanghai free trade zone is the free convertibility of the yuan (Gamble, 2013). The yuan has been a tightly controlled currency, which had been restricted in the global market unlike the other power currencies. The free convertibility of the yuan will encourage more investors in the Chinese economy. For example, organizations registered in the zone will have