Globalization & Gender Inequality Essay Example for Free

Globalization Gender Inequality Essay News reports suggest that economic giants from third world Asia namely China and India are expected to grow at the rate of 9. 7 and 6. 5 percent respectively. The GDP growth rate of these nations is much higher than that of any developed nation and hence are the two fastest growing economy of the world. China has now become the factory of the world with large multinational companies infusing lots of money in establishing manufacturing units and India is now one of the major destinations for back office jobs and is the leading service sector economy. The process which has got its roots right from the beginning of 20th century with the beginning of economic cooperation between Europe and the United States later became synonymous with the word development in Far East Asian Countries including the ASEAN (The World Bank Group, 2000). But still this globalization has yet to make this world a better place to live. The concern related to the globalization process is the growth which is visible is actually more of mathematical in nature than the real cumulative growth. It might be taking place at the cost those who are less privileged (Kumar, 2007). The purpose of this paper is look into the existence of gender inequality in the current scenario where globalization has made the whole world a village with each country having its own identity and purpose in this world. Exchange of information and knowledge is perhaps the simplest in the history of mankind with details of culture of one state can easily be gathered for study, research as well as adoption. But when the matter of gender equality comes into picture then the globalization has miserably failed in making its impact. Developed nations as we all know have made great advancements in implementing the concept of gender equality while the other developing and under-developed nations have miserably failed. As a whole in the developing nations including the Middle East region, globalization has brought great increase in country’s GDP but social structure of these nations have been far from with atrocities against women are almost similar prevalent in early 20th century (Ramji, 1997). Literature Review The economic growth produced and as defined in above paragraphs has yielded results more in terms of mathematical or statistical in nature. The definition of this economic growth in terms of increases in national income has actually undermines women and its contribution to the society. Various activities which are not directly related to economic nature are not being made a part of the national accounting system. Areas of work such as mothering or child-rearing and housework, socially constructed for women, are not included as work when national growth and GDP is being calculated. The UNDP Human Development Report 1996 has concluded that the much propagated economic growth and its expansion since 1980 recent decades show all too clearly that there is no actual relation between economic growth and human development especially females. The concept of Human Development Index (HDI) has been defined in order to calculate the average of the achievements a country undertakes when human capabilities are taken as the variable to measure. The term is being sub varied with smaller variables which includes life expectancy at birth, adult literacy rate, and real gross domestic product per capita i. e. , the PCI which comes into picture when we consider GDP as one of the variable rather the most important variable (Ramji, 1997). The human society has been given a broad view including both men and women while calculating the development of the society as a whole and its multi sided presence. The actual calculation of improvement on domestic front is being measured in terms improvement in human well-being taken along with economic growth targets. Feminist have been known to follow Walter Rodneys definition of development in which an individual and his capability is given a level crafted out comparison with some standard value. The capability and its improvement imply the very increased skills and capacities enabling greater freedom over creativity coming out of self-discipline though responsibility and material well-being. The definition go on emphasizing on the features that holds true in sense of moral categories and its evaluation over a nation depending on the class in terms of social origin, personal code for the classification of what is right and what is wrong and age in which one lives. At the level of a community, sustainable human development is defined in terms of the development that gives priority to the poor, enlarging their choices and opportunities and providing for their participation in decisions that affects their lives. This development is pro-people, pro-nature, pro-employment, and pro-women and not only generates economic growth but also distributes its benefits equitably thereby regenerating the cohesive environment which empowers people. But here the ambiguity comes along with segregated approach towards women which is more gender gapped approach with facilitators enabling sustainable development programs that gives high priority to the poor with assumption being that the state of poverty is quite natural and any solution to achieve 100% poverty eradication is unrealistic. But the Human Development Report (1995, p4) has provided the feministic approach to poverty which suggest that almost 70% of total poor are actually women. The definition as of now used to consider poor as a whole but the reality across. But the reality talks of poverty among women are along with different parameter. It presents a very different picture and even in well to do families the condition of women is not good. In the paper by Vincent J. Bolt and Kate Bird, lack of resources and asymmetrical power relations often result in the discrimination of resources of the intra-household resources which include food, health care and education (13). Even if the females manage to earn some money, their income is being considered as the household income and again they have face discrimination when it is being distributed (Bolt, 14). Poverty and lack of education has prevented any possible social renaissance. The birth of a male child is still considered as very important phenomena. This sometimes led to the birth of a number of girls when parents go on giving birth to babies till the birth of a male child. With already poor household and lots of mouth to feed and a male child, the female members are forced to sacrifice their share in every possible resource sharing (Bolt, 20). The Helsinki Process in its report has stated that families suffering with persistent poverty and hunger are more prone to disease and violence especially domestic violence (11). The report also states that these people perform badly on health index too. They are in continuous chain of disease, conflict and with poverty contributing a lot to epidemics of infection with all access to health care being blocked (Helsinki Process, 15). So it’s not a surprise if world wide more than 500,000 women die annually in pregnancy with 99% being a part of developing but poor countries (Helsinki Process, 15). A family is always talked of being a unit of social system but in some part of western world and almost whole of Asia and Africa, the life of women and children is miserable because of conditions in the family itself. There have been some cases that family is rich. The male part comprising of father and son are financially sound but females’ condition is not just bad rather it is miserable. The family is seldom a unit. Distribution of resources is rarely equal. Females are given less food. All this leads to a condition where women are poor while their husbands or brothers or sons are not. But this is not the end of all sorts of oppressions. The newly searched form of household abuse is men afflicting their wife with HIV/AIDS virus. In most of the poor families, males migrate to cities in search of work and money. They get themselves affected with virus because of unprotected sex. And when they return they finally transmit it to their wives. Due to this, number of innocent sufferers of this deadly virus is on increase with potential high enough to cause an epidemic (Jacobson, 41). Poverty and continuous domestic violence has its effect not only on current generations but also on next generation because of children being regularly exposed to violent behavior. This actually opens a cycle of oppression and aggression with those children becoming more volatile and aggressive. Their chances of economic and academic successes get diminished to another low and will become another source of family and household abuse (Bloom, 16). Conclusion So technically there exist two causes of womens poverty: the first one is absolute poverty while the second one is subordination within the family. When Globalization is talked about then with relevance to the women and men, it is basically a process presented in terms of economic and political paradigm through wide range of variables namely finance, investment, production and marketing that are being dominated by visionary banks and firms with actions spread across national borders and interests. But the thing globalization in terms of poor only presents another way of capitalism and monetary dominance with profiteering over cheap labor and atrocities of poor. Extending the same when looked upon with women in view gives a more grim view. The males have been found to usurp the decision making control irrespective of the family ((Ramji, 1997). condition. The Middle East region and other South Asian regions are very much prone to these social problems. Males have been found to try their best to prevent all sorts of help and any attempt of abused to attain economic independence. These males are poor and are thrashed all over their lives initially during childhood and now by their employers. Their level of frustration is extremely high which finally lead to their wives and children who are now at the receiving end of their frustration. They are alcohol abused and finally abuse their family members (Bloom, 13). Wife beating is a regular feature in those families. These people are very much prone to high risk sex and they finally transmit all this to their wives (Bloom, 23). The wives have more in their life left. They can only hope some thing better in next life only. With most of these cases being a part of developing nations and war torn ones, the chances of getting justice is the least. They are abused on every possible ground and may become mentally unstable with effect being faced by the child they have born. Bibliography Bloom, Sandra L. , â€Å"The PVS Disaster: Poverty, Violence and Substance Abuse in the Lives of Women and Children†. September 2002. A Review of the Recent Literature Women’s Law Project, 2002 http://www. sanctuaryweb. com. â€Å"Empowering People at Risk: Human Security Priorities for the 21st Century†. Helsinki Process. Robinson, M. , â€Å"Advancing the Human Development Agenda: A Shared Responsibility†, January, 2005. Third Forum on Human Development Cultural Identity, Democracy and Global Equity, Paris. â€Å"Poverty and Violence†. http://familystudies. boisestate. edu/pdf/Paper2_Carmody. pdf Bolt, Vincent J. Bird, Kate. â€Å"The Intrahousehold Disadvantages Framework: A Framework for the Analysis of Intra-household Difference and Inequality†, July 2003. Chronic Poverty Research Centre. Kumar, A. (2007). Does Foreign Direct Investment Help Emerging Economies? Insights from the Federal Reserve Bank of Dallas, vol. 2, no. 1 â€Å"Security on Whose terms? If Men and Women are equal†. Kevinna Till Kevinna Foundation. â€Å"The NSDUH Report: Youth Violence and illicit Drug Abuse†, 2006, National Survey on Drug Use and Health â€Å"Surviving Violence and Poverty: A Focus on the Link between Domestic and Sexual Violence, Women’s Poverty and Welfare† 2002. Now Legal and Education Fund Ramji, S. (1997) Globalization and Gender Inequality, Simon Fraser University, Burnaby, British Columbia, Canada V5A 1S6 The World Bank Group (2000), Assessing Globalization, Economic Policy Group and Development Economics Group

Liquid Liquid Extraction Essay -- essays papers

Liquid Liquid Extraction We were asked to extract benzoic acid from a kerosene-benzoic acid mixture. This was to be done using the stirred liquid-liquid extraction column in the senior laboratory. Fresh water was used as the continuous phase in the extraction. We were asked to measure the benzoic acid concentrations of the feed, raffinate, and extract streams. These measurements were to be made at several different steady-states. The number of theoretical stages and the height of the theoretical stages (HETS) was also to be determined. Because the liquid-liquid extraction column had not been used in several years our assignment also included discussing any problems with the process and possible solutions. The discussion of equipment, results, and experimental procedure will be discussed in the following paper entitled "Liquid-Liquid Extraction.† Even though the process had not been used in several years, everything worked very well. The flow meter used to measure the water flow rate had a small leak which was easily remedied using a bucket. One of the storage tanks still had approximately 400 liters of kerosene with a benzoic acid concentration of 0.00208 (gm/mL). Using this as a feed for the process, concentrations of benzoic acid in the aqueous extract were found to be 0.00109 (gm/mL) and 0.000783 (gm/mL) for two separate steady state experimental runs. The flow rates of the kerosene feed for the two steady states were 0.361 (gal/min) and 0.157 (gal/min) respectively. The number of theoretical stages for a flow rates of 0.361 (gal/min) and 0.157 (gal/min) were determined to be 1.76 and 0.87 stages respectively. With the height of the column equal to 48.9 inches the HETS for the two steady state conditions were 27.71 inches and 56.42 inches respectively. Transferring the benzoic acid from the kerosene into the water was accomplished without any major problems. The equipment worked very well except for minor problems with the water flow meter. After working on the process we would recommend that it be used more often. We also believe the results obtained from our experiments are accurate and well within experimental error. SUMMARY Liquid-Liquid Extraction of Benzoic Acid The number of theoretical stages and the height of the equivalent theoretical stages were determined for a liquid-liquid extraction proce... ... state conditions to have given good separations. We also believe the correlation between the pH of the aqueous benzoic acid solution and the actual acid concentration to be accurate. We recommend that the liquid-liquid extraction column in the senior laboratory be used more. The process is very interesting and appears to work well. Nomenclature Symbol Definition Units Xf Concentration of benzoic acid in the feed kerosene (gm/mL) Xr Concentration of benzoic acid in the raffinate (gm/mL) Ys Concentration of benzoic acid in the extract (gm/mL) m slope of the equilibrium line dimensions e extraction factor dimensions N number of theoretical stages dimensions Zt actual height of experimental column (inches) HETS height of equivalent theoretical stages (inches) References Robbins, L. A., â€Å"Liquid-Liquid Extraction†, in Perry’s Chemical Engineers’ Handbook, Sixth Ed., D. Green and R. H. Perry, McGraw Hill, New York, NY, p 51-1, (1984) Allerton, J., â€Å"Liquid Extraction in Perforated-Plate and Packed Towers.† American Institute of Chemical Engineers. 39:361-384 (1943). Liquid Liquid Extraction Essay -- essays papers Liquid Liquid Extraction We were asked to extract benzoic acid from a kerosene-benzoic acid mixture. This was to be done using the stirred liquid-liquid extraction column in the senior laboratory. Fresh water was used as the continuous phase in the extraction. We were asked to measure the benzoic acid concentrations of the feed, raffinate, and extract streams. These measurements were to be made at several different steady-states. The number of theoretical stages and the height of the theoretical stages (HETS) was also to be determined. Because the liquid-liquid extraction column had not been used in several years our assignment also included discussing any problems with the process and possible solutions. The discussion of equipment, results, and experimental procedure will be discussed in the following paper entitled "Liquid-Liquid Extraction.† Even though the process had not been used in several years, everything worked very well. The flow meter used to measure the water flow rate had a small leak which was easily remedied using a bucket. One of the storage tanks still had approximately 400 liters of kerosene with a benzoic acid concentration of 0.00208 (gm/mL). Using this as a feed for the process, concentrations of benzoic acid in the aqueous extract were found to be 0.00109 (gm/mL) and 0.000783 (gm/mL) for two separate steady state experimental runs. The flow rates of the kerosene feed for the two steady states were 0.361 (gal/min) and 0.157 (gal/min) respectively. The number of theoretical stages for a flow rates of 0.361 (gal/min) and 0.157 (gal/min) were determined to be 1.76 and 0.87 stages respectively. With the height of the column equal to 48.9 inches the HETS for the two steady state conditions were 27.71 inches and 56.42 inches respectively. Transferring the benzoic acid from the kerosene into the water was accomplished without any major problems. The equipment worked very well except for minor problems with the water flow meter. After working on the process we would recommend that it be used more often. We also believe the results obtained from our experiments are accurate and well within experimental error. SUMMARY Liquid-Liquid Extraction of Benzoic Acid The number of theoretical stages and the height of the equivalent theoretical stages were determined for a liquid-liquid extraction proce... ... state conditions to have given good separations. We also believe the correlation between the pH of the aqueous benzoic acid solution and the actual acid concentration to be accurate. We recommend that the liquid-liquid extraction column in the senior laboratory be used more. The process is very interesting and appears to work well. Nomenclature Symbol Definition Units Xf Concentration of benzoic acid in the feed kerosene (gm/mL) Xr Concentration of benzoic acid in the raffinate (gm/mL) Ys Concentration of benzoic acid in the extract (gm/mL) m slope of the equilibrium line dimensions e extraction factor dimensions N number of theoretical stages dimensions Zt actual height of experimental column (inches) HETS height of equivalent theoretical stages (inches) References Robbins, L. A., â€Å"Liquid-Liquid Extraction†, in Perry’s Chemical Engineers’ Handbook, Sixth Ed., D. Green and R. H. Perry, McGraw Hill, New York, NY, p 51-1, (1984) Allerton, J., â€Å"Liquid Extraction in Perforated-Plate and Packed Towers.† American Institute of Chemical Engineers. 39:361-384 (1943).

Existentialism and the Meaning of Life Essay

This paper will discuss the existentialist position and how different societal factors contribute to the creation of different meaning in a person’s life. It will study how value systems are formed and will borrow heavily from Jean Paul Sarte’s concept of â€Å"existence precedes essence.† It is important to note that the author will present the arguments and correlate it with the two films that were used in writing this paper. First, I will explain the meaning of life and how it is created. Next, there will be a brief discussion on how state apparatuses like religion and the government keeps aims to keep the meaning of people’s lives in certain restrictive areas. Then I will outline the different arguments of existentialist philosophers particularly that of Sarte and Albert Camus. â€Å"Man is nothing else but what he makes of himself† (Miller & Jensen, 2006). People are all born out of the wonders of biological functions but as people leave the protective womb of their mothers, they will be exposed to different stimulants in the environments. And this will prompt them to learn things different from how other people learn it. Therefore, a man is a sponge who absorbs information in very unique ways. And the things that were absorbed create a man who has an equally unique reason for the meaning of his existence. The very question of life is what paved the way for the existential branch of philosophical studies. It is by way of nature that beings search for the meaning of life. But humans as we are, there will be different interpretations of the meaning of life. Each person is blessed with the unique ability to identify different reasons for his existence. And there are also different perspectives used to uncover the meaning of life. Thus, for this paper we will use Jean Paul Sarte’s theory of â€Å"essence precedes existence†. Backgrounder The ultimate goal in finding the meaning of one’s life is to â€Å"make a rational sense out of life† (Stewart & Blocker, 1987). Self actualization is one of the things specified in the hierarchy of needs. And in order to know the personality of one’s self, it is fundamental to make sense of life in itself. Unlike the perspective of the absurdists—people who focus on the â€Å"meaninglessness of life and the vacuity of human existence† (Stewart & Blocker, 1987)—existentialists seek meaning in the rather meaningless world in order to affirm the significance of their existence.

Knowledge and Organizational Learning Essay

The emerging importance of social media was not one that has taken the corporate world by surprise. By empowering people with the sensibility that their voice matters and can make a difference, social media technologies have altered forever how people communicate and the way companies conduct their business. The success of Web 2. 0 lies primarily in the network effects which creates a sense of community. With the implementation of effective social media strategies, many global brands have won the hearts of their customers simply through staying connected and relevant. As such, this essay will explore how social media when managed strategically in an organisation, can be used to improve its ability to share knowledge across space and time, support innovation, aid problem solving and build social capital. Some case studies of organisations excelling through their social media platform will be discussed and evaluated. It must be noted however, that social media in all of its glory can act as a double edged sword when it is not used appropriately. Improving knowledge sharing Knowledge could be defined as ‘actionable information’ that allows one to make a more informed decision and provide an effective input to conversations and innovation at organisation levels (Jashapara, 2011). It enables one to act more effectively and aid in the ability to better predict future outcomes. A major challenge in organisations today is fostering a knowledge sharing culture. Whereby explicit knowledge is somewhat easy to codify and stored, the sharing of tacit knowledge remains rather equivocal. Through communities of practice which connects people through shared mutual interest and expertise in a specific discipline, organisations are now able to foster the kind of knowledge sharing culture they aspire (Burk, 1999). These social and professional networks create a virtual platform for employees to share relevant experiences and best practices, as well as identify knowledge gaps in their learning. As the ‘bite-size’ information is now readily accessible, learning and knowledge sharing becomes more convenient and easily assimilated. Yammer, an enterprise social networking tool is used by over 200,000 companies and more than 80% of Fortune 500 companies for internal communications and knowledge sharing (Customer Success). Launched in 2008, it drew inspiration from Facebook and Twitter where it features social networking as well as mircroblogging with a secure and private network. Designed for company collaboration, file sharing and exchange of knowledge and information with other users within their organisation or pre-designated groups, Yammer has successfully removed geographical barriers and creates immense knowledge sharing opportunities. It is imperative to note that there are two internal cultural forces that impacts learning and effectiveness in organisations (Jashapara, 2011). In an organisation culture with strong forces of cooperation, it is an ideological organisation where employees are more inclined to share knowledge and expertise. Conversely, if the forces of competition are dominant, it may create silos mentality whereby there is unwillingness to share knowledge in order to gain a competitive advantage (Holst & Fields, 2010). Despite having the various technologies in place for knowledge sharing, there must be interpersonal trust between employees in order to facilitate the exchange of knowledge (Lucas, 2005). Affect-based trust which is built on mutual care and concern between employees is a predominant factor as to one’s willingness to share tacit organisation knowledge. It is found that individuals who were friends were more inclined to share personal and tacit knowledge with one another (Epsein, 2000). The tacit knowledge transfer is characterized by interpersonal relationship as well as long-standing working relationship which will motivate an individual to act in ways that benefit the other (Smedlund, 2008). Hence, with trust and a culture to share, the silo mentality of an organisation will be diminished and they will reap the benefits of knowledge sharing. Supporting innovation Innovation is the ongoing process of discovering new products for the customers or improving work process and efficiencies (Jashapara, 2011). It is no longer a question whether an organisation should pursue innovation but rather, it is a prerequisite for achieving a competitive advantage and success in many industries today. Innovation spurs motivation and efficiency within an organisation and though effective innovation management, it can increase market share through existing markets and capture new markets as well (Potecea & Cebuc, 2010). Customer experience will be enhanced with improved product quality and with wide range of choices made available to them. Innovation prevails in organisations with flexible and adaptive structure, a culture of trust and knowledge sharing and led by a committed management team who are motivated to promote organisation learning (Dasgupta & Gupta, 2009). Through the use of effective social media strategies, an organisation now has more platforms share ideas, gather feedback and innovate on product offerings and customer experience. One prime example is Starbucks’ own version of a social network portal, ‘My Starbucks Idea’ where it is an avenue for customer to share their own Starbucks related ideas (My Starbucks Idea). Inaugurated in 2008, it leverages on desire for engagement and interaction in social network by giving users the ability to share and vote for ideas and check on the outcomes of their suggestions. Through this platform, Starbucks is able to hear directly from their customers and act upon the ideas thereby cultivating and creating great consumer value and community. My Starbucks Idea’ is complemented with Starbucks Blog, ‘Ideas in Action’ which features contributions by various Starbucks employees who shares on the implementation of the ideas given by users through the ‘My Starbucks Idea’ site (Ideas In Action). Ultimately, through the use of social media, Starbucks is clearly prioritising their communication with customers and this creates an e ven greater sense of loyalty to know that their ideas are valued and implemented. It gives customers the empowerment to be involved in part of the decision making process and the ability to shape the future of Starbucks. Aid problem solving The emergence of problem-finding and problem-solving approach highlights the importance of identifying problems to solve, seizing opportunities and overcoming the challenges in organisations (Nickerson, Yen, & Mahoney, 2012). Through the multiple channels of social media, organisations can now connect with customers and hear first hand of their experiences and address problems instantaneously. A good example of an organisation leveraging on social media to aid problem solving is Best Buy, the world’s largest consumer electronics retailer (About Best Buy). Through the years, they have provided customers with exceptional choice, unbiased advice and trusted support for their technology needs. Galvanised by the influence and power of social media, Best Buy created a feed on Twitter called Twelpforce to provide solutions for customers (Dunn, 2010). Those who are having technical problems are able to post it on Twelpforce and a team of Best Buy associates or other Twitter users can post solutions or suggestions. By monitoring the feeds, Best Buy’s management are able to hear unbiased customers’ feedback on their products and assist them in real time. Twelpforce also presents the opportunity for new sales as individual choices are largely influenced and made on the recommendations and advocacy of others (Cunningham, 2012). Electronic word of mouth is especially powerful as the people in an individual’s social network are usually deemed as a trustworthy source of information (Curran, O’Brien, & O’Hara, 2011). Through Twitter and other social media platforms, Best Buy demonstrates their commitment to rejuvenate and refine their customer experience, and at the same time, drives value and innovation to create a more positive and connecting world. Building Social Capital Social capital refers to the active connections and network of relationships between people: the trust, mutual understanding and shared values which binds them together and facilitate coordination and cooperation for mutual benefit (Cohen & Prusak, 2002). It is the glue that promotes knowledge exchange and innovation hence, an essential strategy for organisations to gain competitive advantage in the markets which they operate. However, the development of social capital does not relegate the importance of investing in human capital in organisations (Cummingham, 2002). Huppi and Seemann (2001) phrased it appropriately that â€Å"human capital resides in the people; social capital resides in the relationships among them†. Using social media, organisations can connect with each other more readily and establish a network of community and relationships without any geographical boundaries. This is exemplified by Accenture, a global consulting and technology services and outsourcing company with circa 259,000 employees (About Accenture). They have created a Knowledge Exchange that is integrated with thousands of communities of practice which enables geographically and spatially dispersed employees to share ideas and collaborate more effectively. Residing on a Microsoft SharePoint platform, it features a wide social network with â€Å"people profiles† with biographies, photos and resumes as well as individual’s interests and skill sets. The Exchange also contains blogs, wikis, market insights and e-learning where sharing ideas and knowledge is evident and encouraged. Through The Exchange, company research revealed positively that there was a 42 percent increase in employees’ engagement and collaboration activities. Top collaborators are recognised with â€Å"celebrating performance points† and rewarded with badges that appear on their people profiles (Zielinski, 2012). Risks of Social Media With the many positive benefits of using social media in organisations, there are inherent risks involved when it is not managed effectively. One risk organisations face on social media platforms is the sharing of information. While it is a good medium for employees to share knowledge and ideas, it could be misused when confidential information and intellectual property are leaked. Most employees are aware of the implications of responding unthinkingly to emails however, the same degree of care and forethought are not always applied to social media sites. Thus, there is a danger that an individual may divulge confidential information mindlessly without realising that it is cast in stone and stored online indefinitely (Everett, 2010). While the decision to post videos, photos, thoughts and experiences on social networking site is entirely personal and â€Å"private†, a single act can spark a fire and create far reaching unimaginable consequences for an individual as well as organisations. A passing comment could end up being misinterpreted and a thoughtless prank filmed could easily go viral online affecting the reputation and profits of a company. An infamous example is the Domino’s Pizza debacle in 2009 whereby two Domino’s employees posted unappetizing videos on YouTube. The gross act of tampering with food damaged the company’s reputation severely and cut into nationwide profits. The only saving grace in this debacle is the company CEO, Patrick Doyle who posted another video in response and gave a well-worded apology and took full responsibility. Apart from the risks involving employee’s improper use of social media, social media presents an opportunity for disgruntled customers and competitors to assail a company’s reputation and start a public relations crisis. Instead of a traditional complaint email viewed only internally, unhappiness about a particular product or service standards can be viewed by potentially everyone in the world through social media. This is aggravated by the sharing functions on social media sites like Facebook whereby one may share another person’s unpleasant experience with their ocial contacts even though it may not have affected him. ‘United Breaks Guitars’, a YouTube video created by Dave Carroll in July 2009 is an example of how a customer can use social media to voice his unhappiness. In the song he blamed United Airlines for breaking the neck of his $3,500 guitar, caused by careless baggage handling and unreasonable policies. As the claim did not occur within the standard 24-hour time frame, it was deemed ineligible. 50,000 views were generated just within 1 day and it grew to 8 million by March 2010. It currently has more than 12 million views with popular shows like ‘The Checkout’ on ABC featuring it. Even though United Airlines did finally offered a $3,000 compensation for the damage made to his guitar, the damage done to the reputation and public relations of United Airlines is estimated to have cost them $180,000 within four days of the song been published. Another risk associated with social media is malware and account security. With most of the time spent on social networking sites, it makes their users ideal malware targets. Typical attacks take advantage on the trust relationships between users and their social contacts and try to trick users into giving up sensitive information which can be exploited for financial gain (Everett, 2010). By clicking on links sent by trusted friends, one might be susceptible to malware infection from drive-by downloads which steals information and might give attacker total access and control of the computer. This is especially disastrous for organisation whereby confidential information and trade secrets may be infringed. By not engaging in social media could be a risk in itself for organisations as nowadays most brands and companies are being discussed online. It is essential for an organisation to have a voice in these conversations, monitor and react timely to negative comments. With the risks involved, an organisation should develop a sound corporate policy on the usage of social media and educate employees of the role they play. The IT department needs to regularly update it security protection and firewall to mitigate any malware attacks or unsecure networks. Conclusion Social media presents a wonderful opportunity for organisations to leverage and share knowledge with each other despite geographical boundaries. With effective management, it promotes social capital where trust relationships can be built and creates a platform of engagement and collaboration. Social media platforms enable organisations to listen to the voices of customers and innovate and act upon the ideas given. By doing so, they gain customers’ loyalty and trust which is important to their success. Lastly, social media allows employees and customer to share their problems and receive suggestions and solutions by other users in real time. However, it is imperative to note that not all is good with social media as it can have disastrous impact on a company if it is not managed effectively. Social media does have a powerful amplifying effect. But just like any technology, it can be used for good or evil.

Nonbank Financial Intermediaries essays

Nonbank Financial Intermediaries essays There has been an increased level of competition among financial intermediaries since the late 1990s and it will continue into the new millennium. The large players in this increased competition are the nonbank financial intermediaries. Our text explains that nonbanks are other intermediaries and nonfinancial companies that have taken an increasing share of intermediation (Burton Nonbanks play an important dual role in the financial system. They complement the role of commercial banks by filling gaps in their range of services. But they also compete with commercial banks and force them to be more efficient and responsive to the needs of their customers. Most nonbanks are also actively involved in the securities markets and in the mobilization and allocation of long-term financial resources. Pension funds and other institutional investors that move large long-term financial resources, act as intense opposition to the once dominant commercial banks. Nonbank financial intermediaries include various institutions, such as leasing, factoring, and venture capital companies to various types of contractual savings and institutional investors (pension funds, insurance companies, and mutual funds). The common characteristic of these institutions is that they mobilize savings and facilitate the financing of different activities, but they do not accept deposits fr om the public. The lack of public deposit capabilities is beginning to change, however, with the institution of on-line banking. Since on-line banking is the most prominent of the nonbank financial intermediaries,...

Agri-Business Essay Example | Topics and Well Written Essays - 4500 words

Agri-Business - Essay Example The key success factor of Farmers Haven shall be its freshness and its purity in terms of organic nature of farming. The company shall brand itself as a high quality food supplier using best quality genomes for its produce. The paper is a detailed business plan that begins with a discussion of company’s objectives and mission. The paper identifies the key success factors of the business and goes forth to discuss the company’s key operations and products, its location geographies and facilities. The paper also discusses a detailed marketing strategy for the company highlighting its target market and key competitors. Under strategy implementation, the paper brings in the competitive edge for farmers Haven, its marketing strategy, pricing strategy, sales strategy and strategic alliances. The financial plan is the key to a comprehensive idea about the sources of funds and how they shall be utilised in the business processes. The financial summary also presents a pro-forma balance sheet and income statement presenting forecasts based on estimated figures based on ascertainable assumptions. Through the detailed discussion, the paper aims to provide a complete outlook on the proposed business pl an and its viability in the future. Farmers Haven shall be formed with the acquisition of the Knocktim Dairy Cottage and shall be working towards developing the fertile land into a full-fledged farming area producing high quality farm produce including fruits, vegetables, poultry produce and horticulture products. The 3 acre land shall be put to use in its fullest potential by farm managers and the owner who have the most extensive knowledge and experience in the farming business. The region of operations is located within an area of Scotland that is highly fertile and also attracts a lot of tourists for its natural beauty. The land is to be acquired for farming was primarily engaged in the dairy activities and it shall be strategically divided

Land law Essay Example | Topics and Well Written Essays - 750 words

Land law - Essay Example Over a period of time she gained ascendancy over him. Her action against him was set aside as she failed to disprove this presumption (Re Craig , 1971). In Dunbar Bank plc v. Nadeem, the bank provided a mortgage loan to the couple in their joint names. In the trial court it was held that there had been undue influence brought to bear on the wife, as she had not made any contribution to the purchase, but all the same she was being held jointly liable with her husband. The appellate court set aside this judgment and ruled that she had not suffered any disadvantage and as she had failed to establish undue influence (Dunbar Bank plc v. Nadeem , 1998 ). The courts of equity, in their role of a court of conscience, initiated undue influence as a basis for the obtention of relief. To this end the courts endeavour to determine the underlying reason for entering into a transaction. In all cases, where the cause proves to be objectionable, the transaction will be rescinded. From the perspective of equity, undue influence occurs in the following cases. If there are threats or other overtly improper or intimidating acts and if the relationship between the parties accords to one of them a superior position, which is exploited by that party to the detriment of the other party. In O’Brien, the House of Lords specified the measures to be adopted by a bank, in order to avoid the ill effect of a husband’s undue influence, while granting loans to a couple. The outcome of this decision was that a contract could become unenforceable if one of the parties to the contract had done so as a consequence of a third party’s transgression (Barclays Bank v. OBrien, 1993). In Etridge it was held that it was the duty of the bank to take all such reasonable steps as would ensure that the wife should be properly apprised of the consequences of the transaction that she was about to enter into. To this end an