What Are the Phases of the Business Cycle

Parkin and Bades text Economics gives the following definition of the business cycle:   The business cycle is the periodic but irregular up-and-down movements in economic activity, measured by fluctuations in real GDP and other macroeconomic variables. To put it simply, the business cycle is defined as the real fluctuations in economic activity and gross domestic product (GDP) over a period of time. The fact that the economy experiences these ups-and-downs in activity should be no surprise. In fact, all modern industrial economies like that of the United States endure considerable swings in economic activity over time. The ups may be marked by indicators like high growth and low unemployment while the downs are generally defined by low or stagnant growth and high unemployment. Given its relationship to the phases of the business cycle, unemployment is but one of the  various economic indicators used to measure economic activity. A lot of information can be gleaned from the various economic indicators and their relationship to the business cycle. Parkin and Bade go on to explain that despite the name, the business cycle is not a regular, predictable, or repeating the cycle. Though its phases can be defined, its timing is random and, to a large degree, unpredictable. The Phases of the Business Cycle While no two business cycles are exactly the same, they can be identified as a sequence of four phases that were classified and studied in their most modern sense by American economists Arthur Burns and Wesley Mitchell in their text Measuring Business Cycles.  The four primary phases of the business cycle include: Expansion: A speedup in the pace of economic activity defined by high growth, low unemployment, and increasing prices. The period marked from trough to peak.Peak:  The upper turning point of a business cycle and the point at which expansion turns into contraction.Contraction: A slowdown in the pace of economic activity defined by low or stagnant growth, high unemployment, and declining prices. It is the period from peak to trough.Trough: The lowest turning point of a business cycle in which a contraction turns into an expansion. This turning point is also called Recovery.   These four phases also make up what is known as the boom-and-bust cycles, which are characterized as business cycles in which the periods of expansion are swift and the subsequent contraction is steep and severe. But What About Recessions? A recession occurs if a contraction is severe enough. The National Bureau of Economic Research (NBER) identifies a recession as a contraction or significant decline in economic activity lasting more than a few months, normally visible in real GDP, real income, employment, industrial production. Along the same vein, a  deep trough is called a slump or a depression. The difference between a recession and a depression is critical, though it is not always well-understood by non-economists.

Essay on Materialism in the Great Gatsby - 905 Words

â€Å"Money Changes Everything† by Cyndi Lauper illustrates the way people center their desires on material things such as money. The speaker in the song leaves the poor man, solely because he does not have money, for the affluent one: â€Å"I’m leaving you tonight†¦There was one thing we weren’t really thinking of and that’s money† (Lauper 1, 6-7). Like Cyndi Lauper, F. Scott Fitzgerald demonstrates the way people often center their desires on material things such as money in The Great Gatsby. Daisy falls in love with Gatsby, who is a poor man at the time, and when Gatsby leaves for the war, Daisy marries Tom Buchanan, who is a rich man, because he is â€Å"old money,† meaning he will always have the money and status to support Daisy. When Gatsby returns†¦show more content†¦Daisy’s materialism is revealed when she allows money to influence her decisions, and her life becomes a mess because of it, which is what Fitzgeral d tries to teach to his audience. Gatsby’s love for Daisy propels his materialism, which leads to his ultimate downfall. Gatsby uses his words and specious actions to prove to Daisy that he is rich so she will love him by giving Daisy a tour of his house. Exploring Gatsby’s house is when Gatsby is careful to point out to Daisy his lavish possessions that are present in his many extravagant rooms: â€Å"We went upstairs, through period bedrooms swathed in rose and lavender silk and vivid with new flowers, through dressing-rooms and poolrooms, and bathrooms, with sunken baths† (91). After strolling through Gatsby’s house, Gatsby takes Daisy up to his closet and begins to boast about his expensive clothes so that Daisy realizes that Gatsby is rich, and, â€Å"He took out a pile of shirts, and began throwing them, one by one, before us, shirts of sheer linen and thick silk and fine flannel, which lost their folds as they fell and covered the table in many-colored disarray† (92). Daisyâ €™s desire and obsession with materialistic things is also evident because after she sees all of these shirts, she begins crying because ofShow MoreRelatedMaterialism - the Great Gatsby1732 Words   |  7 PagesMaterialism America has been labeled The land of opportunity, a place where it is possible to accomplish anything and everything. This state of mind is known as The American Dream. The American Dream provides a sense of hope and faith that looks forward to the fulfillment of human wishes and desires. This dream, however, originates from a desire for spiritual and material improvement. Unfortunately, the acquisition of material has been tied together with happiness in America. AlthoughRead More Materialism in The Great Gatsby Essay1075 Words   |  5 PagesMaterialism may be defined as attention to or emphasis on material objects, needs or considerations, with a disinterest in or rejection of spiritual values. The acquisition of material wealth is often equated with happiness in this country. This is true today, and it was true during the 1920s, the setting of F. Scott Fitzgeralds The Great Gatsby. That the majority of Americans believe that wealth and happiness are the same is a result of our market economy that encourages consumption and conditionsRead More Materialism - The Great Gatsby Essay1687 Words   |  7 Pages Materialism nbsp;nbsp;nbsp;nbsp;nbsp; nbsp;nbsp;nbsp;nbsp;nbsp;America has been labeled quot;The land of opportunity,quot; a place where it is possible to accomplish anything and everything. This state of mind is known as quot;The American Dream.quot; The American Dream provides a sense of hope and faith that looks forward to the fulfillment of human wishes and desires. This dream, however, originates from a desire for spiritual and material improvement. Unfortunately, the acquisitionRead MoreMaterialism In The Great Gatsby Analysis824 Words   |  4 PagesMaterialism The Great Gatsby, written by F. Scott Fitzgerald, illustrates the different lifestyles in regards to the upper and lower classes. The upper class is represented by â€Å"Old Money†, the people who inherited their wealth. Another part of the upper class is represented by â€Å"New Money†, the people who obtained wealth over time. Old money is more fancy and elegant, whereas new money is more showy and extravagant. Because of this, old money is considered superior to new money. The lower class isRead MoreThe Madness Of Materialism In The Great Gatsby996 Words   |  4 Pagesarticle â€Å"The Madness of Materialism† by Steve Taylor discusses psychological discord and talks about people always wanting certain objects, that they might not be a necessity (Taylor). This article is similar to the novel, The Great Gatsby by F Scott Fitzgerald because both discuss the idea of wants versus needs. Gatsby is the main character, however Nick Carraway is the narrator througho ut the entire story. They have been neighbors ever since Nick moved to West Egg. Nick and Gatsby become close friendsRead MoreMaterialism in The Great Gatsby Essay515 Words   |  3 Pagessay that you are happy. Daisy Buchanans case in The Great Gatsby by F. Scott Fitzgerald proves this to its entirety. When having to decide between an empty marriage with her husband Tom and Jay Gatsby, her love interest, she chooses Tom even though he doesnt make her truly happy. It is then evident all throughout the novel that materialistic properties of wealth and status triumphs over love. In 1917, Daisy became acquainted with Jay Gatsby from Louisiana. Though they seemed very close with eachRead MoreEssay On Greed And Materialism In The Great Gatsby1014 Words   |  5 Pagesgrowth in an economic forum. This caused many Americans to move into the uncharted territory of the city, and make the transition into a prosperous and foreign â€Å"consumer society† (History.com). In addition, the traits of greed and materialism are ubiquitous in The Great Gatsby, as well as in the flashy 1920’s. These two characteristics give one confidence, but as demonstrated in the novel, it brings nothing but short-term satisfaction. After that, feelings of desperation to childish behaviors can accompanyRead MoreGreed And Materialism In The Great Gatsby Analysis1311 Words   |  6 Pagesprosperous and previously foreign â€Å"consumer society† (History.com). The traits of greed and materialism are ubiquitous in The Great Gatsby, as well as in the Art Deco era of the 19 20’s. These two characteristics can give one confidence, but as demonstrated in the novel, they bring nothing but short-term satisfaction. After which, feelings can run the gamut from desperation to childish behaviors. While greed and materialism have the power to seem favorable, bringing an amplification of social status, theyRead MoreEssay On Money And Materialism In The Great Gatsby1994 Words   |  8 Pages Money and materialism play a large role in F. Scott Fitzgerald’s book, The Great Gatsby, which takes place on Long Island in the summer of 1922. The book follows a man by the name of Jay Gatsby who centers his life around one goal, winning back the girl of his dreams, Daisy Buchanan, who he lost five years earlier. His quest leads him from rags-to-riches into the arms of the one he loves, and ultimately, to death. This book is written from a Marxist point of view based on the fact that the bookRead MoreEssay on Love vs. Materialism in the Great Gatsby1131 Wo rds   |  5 PagesVs. Materialism The Great Gatsby does not offer a definition of love, or a contrast between love and romance. Rather it suggests that what people believe to be love is normally only a dream. America in the 1920s was a country where moral values were slowly crumbling and Americans soon only had one dream and objective to achieve, success. Distorted love is one theme in the novel The Great Gatsby, present among all of the characters relationships; Daisy and Tom, Tom and Myrtle, Daisy and Gatsby, and

Reading and watching are totally different Free Essays

Reading and watching are totally different: one describes things by words, while the other uses visual actions. To some people who enjoy reading, they can find interest in books with imagination. Personally, I like movies more than books, because I can understand more by visualization. We will write a custom essay sample on Reading and watching are totally different or any similar topic only for you Order Now When I read â€Å"A Rose for Emily,† I couldn’t understand the story at first. Then when I watched the movie, it helped me to understand more about what’s going on around Emily, with more details and chronological events. The story told in Faulkner’s order is not chronological which is harder for reader to understand. I found out some differences of the story in the book compared with the movie. In the book, the author mentions about the taxes more than in the movie. The mayors send to Emily a tax notice but there is no reply. They write her formal letter, and even come to her house to talk about it. The only sentence Emily can say to them is that â€Å"I have no taxes in Jefferson.† The movie only shows a scene that Emily received a lot of tax notice letters which she has never replied once. After her father’s death, Emily becomes poor and has no income since she has been only depending on her farther. I guess in the movie, it focuses more on her relationship with Homer which the book doesn’t show much. I didn’t know Emily sleep with Homer until I saw the movie. As I read the title of the book, I expected something must be related to rose in the story, but I couldn’t find it after I finished the story. I were surprised by the end of the movie, when Emily died, people put a rose in her tomb which made more sense to me due to the title. One more different thing is the strand of gray hair is found in Homer’s hand but not on the pillow as it is in the book. At the end, the story remains a mystery about Emily and Homer. Why does Emily kill Homer? And when is it in the story? Does she sleep with him everyday or just the last day of her life? Does Tobe fall in love with Emily? These questions were neither answered in the movie nor in the book. The author left us something to think about, something to criticize on our own. In my opinion, I think that Emily kills Homer because she loves him and she wants him to be with her for the rest of her life. We all know that Emily falls in love with Homer, but what about Homer? Does he love her? All the people in town are saying that Homer is not a marrying man. So, even though they are dating and sleeping together, Emily knows that he will not marry her, and one day he will leave her just like her father. This makes her think about a way to keep Homer with her forever. I guess this is the reason she wants to kill him. There is a scene where they meet at the door of a drug store, in which Homer doesn’t show any respect or kindness to her. That makes Emily more determined about her plan of poison Homer. At the end, her cousins find Homer’s body on the bed and a strand of gray hair on his hand. This indicates that Emily does sleep with the death body but we don’t know when Emily has been doing that. So, I still wonder that how come she doesn’t kill herself after him since she has nothing left. How to cite Reading and watching are totally different, Papers

Analysis Product Decision and Price Decision

Question: Write about theAnalysisfor Product Decision and Price Decision. Answer: Introduction The breakthrough of a new product in to the market requires so many efforts through analysis and strategies. Understanding market dynamics, dos and donts of the market is a crucial element that may help in creating a pathway for the companys new product. Price factors, the nature of the product itself, promotional activities and the place the product is sold are the main determining points in launching a new product in to the market (Singh 2012). Product Decision Creating a brand name that appeals to the prospective customers requires just more than the product itself. There are a lot of deciding factors that are influential in creating a breakthrough of the new product in to the market (Goi 2009). Therefore before launching a new product, it is fundamental to identify its three main levels and determine whether the product will fulfill the customers expectation and satisfaction. According to the (Marketing Teacher.com 2017), a product has three levels within which the customer satisfaction is fully met. These levels or layers include the Core Product, Actual Product and the Augmented Product. Core Product The core product is not tangible or visible product, but it the benefit that a consumer obtains from the product. The customers main motive behind buying a product majorly depends on the benefits available in the product, that is, the value of the product, be it medicinal or nutritional. Creating a product with numerous potential benefits that a customer yearns for creates a desire and potential trust in the product. The clients are mostly attracted with what fulfills what they desire. For instance, the nutritional value in the energy drink is what is of benefit to the buying customer from the actual product. The Actual Product This is the real physical product customers obtain when they pay the money in exchange. The nature of the real product should satisfy the customers. For the energy drink, proper ingredients, delicious taste and satisfactory texture of the drink is fundamental for the customers. The Augmented Product This is also non-physical part of the product and includes additional benefits a customer may obtain from buying the product. They include proper services and instructions on the use of the product, or the customer priority and full attention accorded to the customer from the products company. The Brand Name A brand is the identifying factor that represents a product to the customers (Kotler Armstrong 2007). Having a proper, appealing and a popular brand name is all that is required to lure new customers into buying your product. Therefore, the appropriate name for the XYZs company would best be Calm Lifter as it provides the customers with the calming benefit and lifts their mood after drinking the beverage. Design Packaging Product packaging plays a very important role in attracting the customers; therefore, it is necessary for the company to have properly designed packages for their products (Vyas 2015). In this case, the appropriate package design for the Calm Lifter energy drink would best be glass bottles, tinted with the corporate colours probably green and the brand name around its waist near the top. Another alternative for the easy takeaways would be recyclable metallic cans, branded in green colours with the brand name along either side the can. Price Decisions Pricing has huge financial impact on the performance of a company and can determine the success of the business or its failure as well (Hinterhuber 2003). Therefore, the XYZs Calm Lifter energy drink would do best with the following pricing considerations: Pricing Objective The best pricing objective for the Calm Lifter energy drink would be Sales-oriented pricing objective. The main reason is, the product is still in its primary stages of trying to break in to the market and earning the market share in a market that already exists with competitors hence the sales-oriented pricing is a wise idea. Secondly, the sales-oriented pricing would ensure the breakthrough of the product in to the market, that is, the large amount of sales would mean the continuous increase in the product awareness and popularity. The Pricing Point and Price Strategies Given the fact that Calm Lifter is a new product in to the market, the best pricing point for the energy drink would be best determined by the demand of the new product after initial promotion activities. Hence, in this case, penetration pricing is the most appropriate pricing strategy for the drink, so as to reach the mass market in the price sensitive market. Special Pricing Tactics Pricing tactics may work wonders when best utilized. Therefore, for the new Calm Lifter energy drink, Odd-even pricing tactic is an appropriate tactic, since it does not risk the credibility of the company brand, and secondly, given that the energy drink is new in the market, playing around with customers psychology is a safer option than the ambitious but dangerous pricing tactics which may backfire to taint the brand name of the energy drink. References Goi, CL 2009, 'A Review of Marketing Mix: 4Ps or More? ', International Journal of Marketing Studies, vol I, no. I, pp. 2-15. Hinterhuber, A 2003, 'Towards Value-Based Pricing- An Integrative Framework For Decision Making', Industrial Marketing Management , pp. 765778. Kotler, P Armstrong, G 2007, Principles of Marketing, Pearson International Edition. Marketing Teacher.com 2017, 'Three Levels of a Product'. Singh, M 2012, 'Marketing Mix of 4PS for Competitive Advantage ', Journal of Business and Management , vol III, no. 6, pp. 40-45. Vyas, H 2015, 'Packaging Design Elements and Users Perception: A Context in Fashion Branding and Communication ', Journal of Applied Packaging Research, vol VII, no. 2, pp. 95-107.

james Essays - Bible Translations Into English, Wycliffes Bible

Throughout the Middle Ages literacy rates were extremely low in Europe, and hand copied manuscripts were expensive. The Bible and many legal documents were written in Latin or Greek, which were becoming increasingly dead languages used only by the church. Moreover, the statute of Valencia and other statutes had made it illegal for anyone not authorized by the Church to have even the Latin and Greek versions of the of the Bible. The laity therefore had to rely on the Church, government and powers that be for understanding and interpreting these documents. With the invention of the printing press, one of the first books to be printed was the bible, which was soon translated into several languages, often badly. The errors were due in part to ignorance and in part by attempts to use the Bible to further sectarian political or theological goals. A few small parts of the Bible had been translated into vernacular at different times. King Alfred translated the ten commandments, and Bede had translated the gospel of St John into Saxon language, but the translation was lost. In the fourteenth century. Wyclif had translated parts of the Bible and this work was completed after his death. Many copies of this "Lollard" bible in middle English were distributed before the invention of printing. The Genesis narrative opened: ?In the firste made God of nougt heuene and erthe. The erthe forsothe was veyn with ynne and void, and derknessis weren vpon the face of the see; and the Spiryt of God was born vpon the watrys. And God seide, Be maad ligt; and maad is ligt.? The Wyclif (or Wycliffe) bible was completed in 1388, four years after Wycliffe's death. Wycliffe himself had translated the New Testament , relegating the Old Testament translations to assistants with the necessary language skills. These Wycliffe bibles were laboriously copied out and distributed at great risk. The Catholic Church was horrified at the possibility that everyone would be able to read the Bible. In 1399, alarmed at the spread of Lollardy, the convocation of Oxford passed the statute De Heretico Comburendum, "Of the burning of heretics." This law was passed in Parliament by King Henry IV in 1401. It provided for burning of all those who held Lollard opinions, or possessed illegal books, including the translated Bible apparently, though it is a common misconception that it was directed only against the Bible. The De Heretico Comburendo statute stated: ...that none...presume to preach openly or privily, without the license of the diocesan of the same place first required and obtained, curates in their own churches and persons hitherto privileged, and other of the Canon Law granted, only except; nor that none from henceforth anything preach, hold, teach, or instruct openly or privily, or make or write any book contrary to the catholic faith or determination of the Holy Church, nor of such sect and wicked doctrines and opinions shall make any conventicles, or in any wise hold or exercise schools; and also that none from henceforth in any wise favor such preacher or maker of any such and like conventicles, or persons holding or exercising schools, or making or writing such books, or so teaching, informing, or exciting the people, nor any of them maintain or in any wise sustain, and that all and singular having such books or any writings of such wicked doctrine and opinions, shall really with effect deliver or cause to be delivered all such books and writings to the diocesan of the same place within forty days from the time of the proclamation of this ordinance and statute. The Lollards did not believe that the wine and wafer of the communion were transsubstantiated into the blood and body of Jesus, they refused to worship the cross as an object, and held many other such "dangerous" doctrines in addition to translating the Bible. The first person to be executed under the law was Sir William Sautre, who refused to abjure, among other heresies, the following: 1. he will not worship the cross on which Christ suffered, but only Christ that suffered upon the cross. 2. he would sooner worship a temporal king, than the aforesaid wooden cross. 3. he would rather worship the bodies of

Psycology essays

Psycology essays The only way to fully understand the psycology of another is throught the talking of the pateint. In resent years only a few things have been learned about this science. There have also been many PSUEDO sciences (false sciences) and therys of how to cure many people. There have been many techinquies to cure people from electro convusive theropie which sends a electric shock into the person causing a small secure. Medication is another part of this prosess. Many doctors are baffled over what alot of patients many have. Shizophreneia is one of the many cases in mental institutes, there are wild speaking individualswhich have not only mentaly changed but there phisical apperence has also altered. In closing Psycology is the study of the mind of criminals and patientes of the time and age were mental sickness is at an all time high. ...

Knowledge Managment Initiative Assignment Example | Topics and Well Written Essays - 750 words

Knowledge Managment Initiative - Assignment Example The new system allowed all employees to constantly gain detailed information on products and helped them to adequately solve the problem of resigning sales people due to lack of information and resulting commission. The product pricing and availability reports incorporated by cubes to boost system functionality were only available to the retail managers who worked to set the market policy, thereby creating a knowledge barrier and hindering development. Although ample training was provided to all the managers to gain sufficient knowledge of the online repository system, the rest of the employees’ learning and development was limited to 10-minute sessions per employee and minimal encouragement to learn the rest on their own time. Despite the high traffic of customers coming to the stores, the repository system’s usage did not increase accordingly. So even though, values, accessibility, and goals were set for all employees, the circle the of learning and organization came to a gradual halt.

The Reasons for War in 1898 Essay Example | Topics and Well Written Essays - 1750 words

The Reasons for War in 1898 - Essay Example The vision of the United States as an Asian power originated in the post colonial period. The U.S. Exploring Expedition of 1838 described three great island nations in the Pacific. These ports, Pago Pago, Manilla, and Pearl Harbor initiated the vision of America's quest for a presence in the Pacific. In 1878 the United States acquired a naval base in Pago Pago through an agreement with Great Britain and Germany, and by the end of 1898 the U.S. government controlled all the above mentioned harbors.2Frederick Jackson Turner‘s analysis that liberty and individualism had depended on the existence of a moving frontier into contiguous land. Turner believed that an ever-expanding frontier was necessary for the growth of the nation. Stromberg contends that, "With the disappearance of the frontier in the 1890s, a substitute frontier had become necessary to preserve the American way of life"3. Foreign markets became the frontier that had been exhausted on the mainland. Using Turner's arg uments, proponents advocated looking beyond our shores for new frontiers and expanding markets.The vehicle to make large scale saltwater imperialism possible began with the publication of Alfred Thayer Mahan's 1890 book "The Influence of Sea Power Upon History, 1660-1783". Mahan proposed the theory that great nations rode upon great naval power. As Mahan laid out in his book, "The motive, if any there be, which will give the United States a navy, is probably now quickening in the Central American Isthmus. Let us hope it will not come to the birth too late"4. Mahan's book was greeted with great acceptance and resulted in an appropriations bill to build a strong naval fleet in the 1890s. The naval appropriations act of 1890 was a strong endorsement of Mahan's philosophy and changed our naval approach from defensive to offensive. According to Musicant, "The battleships were a giant stride, as Tracy and his allies frankly admitted, toward creating a fighting fleet to seize command offen sively of the open sea and destroy the enemy in blue water"5. The new naval strategy would enable the coming decade to foment the beginnings of war and enable the interested factions to make a case for imperial expansion. By 1898, Cuba was central to our nation's attention and was the jumping off point to the war with Spain. Cuban rebels had been fighting for independence from Spain for 30 years. The main impetus for the rebellion was the unacceptable conditions in Cuba. In 1868, Cuban Nationalists fought a ten-year war that left the insurgents exhausted. Spain promised reforms, but most were never materialized and in 1895 the rebels staged a more concentrated effort for Cuban independence. The war from 1895-1898 would devastate Cuba, its economy, and its people. As Offner describes the devastation, "They sought to turn Cuba into an economic desert, thereby making the island unprofitable and convincing Spain to leave. Insurgents burned sugar cane fields and mills and destroyed railroads, telegraph lines, and other property"6. These atrocities would capture the attention

CSR Coursework Example | Topics and Well Written Essays - 500 words

CSR - Coursework Example the interests of the society by being considerate of its impact on the society, customers, shareholders, suppliers, employees, communities and the environment in which the business operates from. Socially responsible organizations take the initiative of following the laid down legislation and also takes care of its employees and their families voluntarily without being under any obligations (p.199). They continue to say that CSR just means the strategies that organizations use to conduct their business ethically by being society friendly. CSR involves a lot of activities like partnering with local communities, investing in socially sensitive ventures, having an excellent employee, customers and family relations and lastly being involved in environment conservation activities (Ismail, 2009, p.199). According Gotherstrom (2012), organizations like H&M can use the Stakeholder theory of CSR. It involves the organization management putting into consideration economic and social factors that affect the business during its decision making in its operation.in this case the stakeholders involved include investors, political groups, communities’ employees, trade associations, government etc. These all stakeholders affect the business in one way or another but the business has to find ways and means of keeping them happy. This theory is not only how the shareholders can make more profits but also of how the organization can make decisions that will affect how the society views (p.8). The application of this theory has been on the rise especially due to the rise activists and environmental groups. (p.9) In the case of H&M, we find that it is involved in its CSR activities to atone for the condemnation that it received from Greenpeace in the year 2011for discharging hazardous waste water with chemicals which could affect the environment negatively. This is demonstrated by the way it partners UNICEF to help children in Bangladesh. The next CSR is Legitimacy Theory; this

Leadership Development Past Present And Future Management Essay

Leadership Development Past Present And Future Management Essay This article reviews notable trends in the leadership development field. In the past two decades, such trends included the proliferation of new leadership development methods and a growing recognition of the importance of a leaders emotional resonance with others. A growing recognition that leadership development involves more than just developing individual leaders has now led to a greater focus on the context in which leadership is developed, thoughtful consideration about how to best use leadership competencies, and work/life balance issues. Future trends include exciting potential advances in globalization, technology, return on investment (ROI), and new ways of thinking about the nature of leadership and leadership development. The Past Looking back at the state of leadership and leadership development over the past 20 years, we were surprised to discover more than a decade passed before HRP first contained an article with the word leadership in its title. At the risk of making too much out of mere titles, we note with interest the contrast between that early period and the fact that leadership development is now one of HRPs five key knowledge areas. The last two decades have witnessed something of an explosion of interest in leadership development in organizations. Some of the most noteworthy issues and trends in the field of leadership development in the past 20 years fall under these two general headings: The proliferation of leadership development methods; The importance of a leaders emotional resonance with and impact on others. Proliferation of Leadership Development Methods One clear trend over the past 2years has been the increasing use and recognition of the potency of a variety of developmental experiences. Classroom-type leadership training-for long the primary formal development mode-is now complemented (or even supplanted) by activities as diverse as high ropes courses or reflective journaling. Classroom training should not be the only part of a leadership development initiative, and may be the least critical. While training may even be a necessary element of leadership development, developmental experiences are likely to have the greatest impact when they can be linked to or embedded in a persons ongoing work and when they are an integrated set of experiences. Activities like coaching, mentoring, action learning, and 360-degree feedback are increasingly key elements of leadership development initiatives. Developmental relationships primarily take two forms: coaching and mentoring. Coaching involve practical, goal-focused forms of one on- one learning and, ideally, behavioural change (Hall, et al., 1999). It can be a short term intervention intended to develop specific leadership skills or a more extensive process involving a series of meetings over time. The most effective coaching allows for collaboration to assess and understand the developmental task to challenge current constraints while exploring new possibilities, and to ensure accountability and support for reaching goals and sustaining development (Ting Hart, 2004). Mentoring is typically defined as a committed, long-term relationship in which a senior person supports the personal and professional development of a junior person. It may be a formal program or a much more informal process. Recognizing the value of mentoring, organizations are increasingly looking at ways to formalize these types of relationships as part of thei r leadership development efforts. Action learning is a set of organization development practices in which important real-time organizational problems are tackled. Three kinds of objectives are sought: delivering measurable organizational results, communicating learnings specific to a particular context, and developing more general leadership skills and capabilities (Palus Horth, 2003). Effective action learning may range from tacit, unfacilitated learning at work to focused and high-impact learning projects to transformations of people and organizations (Marsick, 2002). Challenging job assignments are a potent form of leadership development and provide many of the developmental opportunities in organizations today. The level of organizational involvement in making job assignments part of their leadership development process runs the gamut from simply providing people with information about developmental opportunities in their current job to a systematic program of job rotation. Using job assignments for developmental purposes provides benefits that go beyond getting the job done and may even result in competitive advantages for the organization (Ohlott,2004). One developmental method has been so pervasive that it deserves somewhat greater attention here: the use of 360-degree feedback to assess leader competencies. Chappelow (2004) recently noted that perhaps the most remarkable trend in the field of leader development over the past 20 years has been the popularity and growth of 360- degree feedback. Others called it one of the most notable management innovations of the past decade (Atwater Waldman, 1998; London Beatty, 1993). To help those organizations disappointed with 360-degree feedback results, here is some of what we have learned over the years about how to implement them effectively (Chappelow, 2004): An assessment activity is not necessarily developmental. Three-hundred-sixty-degree feedback should not be a stand-alone event. In addition to assessment there need to be development planning and follow-up activities. Boss support is critical for the process itself, as well as for buy-in for the recipients specific developmental goals stemming from the feedback. The 360-degree feedback process works best if it starts with executives at the top of an organization and cascades downward throughout the organization. Shoddy administration of a 360-degree feedback process can be fatal. The timing of the process accounts for other organizational realities that could dilute or confound its impact. Another kind of leadership development method gaining popularity during the past 20 years has involved teams (Ginnett, 1990). The prevalence and importance of teams in organizations today, and the unique challenges of leading teams, make it easy to forget that teams were not always so pervasive a part of our organizational lives. One way to convey the magnitude of that shift is to share an anecdote involving one of our colleagues. During his doctoral work in organizational behaviour at Yale about 20 years ago, our colleague Robert Ginnett would tell others about his special interest in the leadership of teams. Routinely, he says, they would assume he must be an athletic coach; who else, theyd say, would be interested in teams? Importance of a Leader s Emotional Resonance with and Impact on Others Twenty years ago, our understanding of leadership in organizations was dominated by the classic two-factor approach focusing on task and relationship behaviors. That general approach can be characterized as transactional in nature, as distinguished from a qualitatively different approach often described as transformational. Transactional leadership is characterized by mutually beneficial exchanges between parties to optimize mutual benefit including the accomplishment of necessary organizational tasks. The exchange-model nature of transactional leadership tends to produce predictable and somewhat shortlived outcomes. Transformational leadership touched followers deeper values and sense of higher purpose, and led to higher levels of follower commitment and effort and more enduring change. Transformational leaders provide compelling visions of a better future and inspire trust through seemingly unshakeable self-confidence and conviction. Conger (1999) reviewed 15 years research in the related fields of charismatic and transformational leadership, and observed that scholarly interest in these areas may be traceable to changes in the global competitive business environment at that time such as competitive pressures to reinvent them selves and challenges to employee commitment. Prior to that time, leadership researchers generally had not distinguished between the roles of leading and managing: A person in any position of authority was largely assumed to hold a leadership role. It was a novel idea that leadership and management might represent different kinds of roles and behaviors. Hunt (1999) was even more blunt about the state of scholarly research in the field of leadership in the 1980s. He described it as a gloom-and-doom period characterized by boring work, inconsequential questions, and static answers. Research in the areas of transformational and charismatic leadership both energized scholars and interested organ izational practitioners. One factor presumably underlying the interest in charismatic and transformational leaders is the nature and strength of their emotional impact on others. The nature of the leaders emotional connectedness to others is also apparent in the growing interest over the past decade in topics like the leaders genuineness, authenticity, credibility, and trustworthiness (Goleman, et al., 2002; Collins, 2001). These seem related more to the affective quality of a leaders relationships with others than to specific leader behaviors and competencies. Attention given during the last decade to the concept of emotional intelligence also attests to that shifting interest. For example, Goleman, et al. (2002) present data that a leaders ability to resonate emotionally with others is a better predictor of effective executive leadership than is general intelligence. Recent research at the Center for Creative Leadership (CCL) has uncovered links between specific elements of emotional intelligence and specific behaviors associated with leadership effectiveness (Ruderman, et al.,2001). Effective leadership is clearly about more than just enacting the right behaviors, or merely translating feedback (e.g., from 360-degree feedback) into changed behavior. One way 360- degree feedback can positively impact an individuals effectiveness as a leader is by deepening that persons self-awareness about the impact of his/her behavior on others. Much leadership development feedback naturally affects how people think about themselves, not just their interactions with others. Similarly, it can lead to re-evaluations of many aspects of ones life, not just ones role as a leader. It can affect the whole person. It follows, then, that in some ways leadership development itself involves the development of the whole person. The Center for Creative Leadership began during the heyday of the human potential movement, and its ideals and educational philosophy still reflect a commitment to the value of self-directed change and growth (albeit informed by knowledge about the needs of the organization). Virtually all CCL leadership development programs include numerous activities to increase managerial self-awareness, and most address balance in life, including the relationship between health, fitness, and leadership. From our own participants, representing diverse companies across virtually all industries, the feedback is that balance in life has so far been more of an aspiration for them than a reality. The Present Today, effective leadership is commonly viewed as central to organizational success, and more importance is placed on leadership development than ever before. Developing more and better individual leaders is no longer the sole focus of leadership development, although it remains a critical aspect. Increasingly, leadershipis defined not as what the leader does but rather as a process that engenders and is the result of relationships-relationships that focus on the interactions of both leaders and collaborators instead of focusing on only the competencies of the leaders. Leadership development practices based on this paradigm are more difficult to design and implement than those that have been popular for the last several decades in which the objective was to train leaders to be good managers. In light of this, several themes describe the state of leadership development today: 1. Leadership development increasingly occurring within the context of work; 2. Critical reflection about the role of competencies in leadership development; 3. Revisiting the issue of work/life balance. Leadership Development Within the Context of Work Leadership development initiatives today typically offer performance support and real world application of skills through such methods as training programs, coaching and mentoring, action learning, and developmental assignments. Combining instruction with a real business setting helps people gain crucial skills and allows the organizations to attack relevant, crucial, real-time issues. The goal of leadership development ultimately involves action not knowledge. Therefore, development today means providing people opportunities to learn from their work rather than taking them away from their work to learn. It is critical to integrate those experiences with each other and with other developmental methods. State of the art leadership development now occurs in the context of ongoing work initiatives that are tied to strategic business imperatives (Dotlich Noel, 1998; Moxley OConnnor Wison, 1998). Furthermore, best practice organizations recognize leadership as a key component of jobs at all levels and are committed to creating leaders throughout their organizations. Increasingly, organizations have CEOs who model leadership development through a strong commitment to teach leaders internally. For example, Carly Fiorina at HP is annually teaching at 12 leading business results classes. The targets of leadership training programs are no longer relatively isolated individuals who were anointed by senior management. Instead of the thin horizontal slices, the program design is likely to involve work groups or several vertical slices of the organization (Fulmer, 1997). The proliferation of leadership development methods was previously noted. Not just the variety of development methods matters; greater variety is not necessarily better. It is also critical to integrate various developmental experiences to each other as well as to both developmental and business objectives. That way they can have a greater collective impact than they otherwise could have. But such efforts at integration are far from universal. In reviewing the entire field of leadership development, McCauley and VanVelsor (2003) noted that the approach of many organizations is events-based rather than systemic. One method of making leadership development more systemic is to make sure it involves more than training. An array of developmental experiences must be designed and implemented that are meaningfully integrated with one another. Leadership development efforts and initiatives must be ongoing, not a single program or event. The idea of leadership development strategies that link a variety of developmental practices including work itself (e.g., action learning projects) with other HR systems and business strategy is an emerging and probably necessary evolution of our state-of-practice (Alldredge, et al., 2003). Critical Reflection about the Role of Competencies in Leadership Development Although the field is moving away from viewing leadership and leadership development solely in terms of leader attributes, skills, and traits, leadership competencies remain a core dimension of leadership development activities in most organizations. A recent benchmarking study found that leading-edge companies define leadership by a set of competencies that guide leadership development at all levels (Barrett Beeson, 2002). A majority of organizations have identified leadership competencies, or at least tried to define the characteristics and qualities of successful leaders. How then are leadership competencies most effectively used in leadership development? Leadership competencies need to correspond to the organizations particular strategy and business model (Intagliata, et al., 2000). Leadership development programs implemented in isolation of the business environment rarely bring about profound or long-lasting changes; therefore, organizations must develop leaders and leadership competencies that correspond with and are specific to their distinct business challenges and goals. While common leadership qualities or competencies characterize effective leaders, developing such core leader qualities may not be enough. The leadership competencies of a best-practice organization uniquely fit the organization, its particular strategy, and its business model (APQC, 2000). This perspective has also been applied to the individual level. Not only may organizations differ in their identification of critical leadership competencies, some would argue it is unlikely all leaders within an organization must all possess the same set of competencies to be successful- or make the organization successful. According to this perspective, leaders should not be accountable for demonstrating a particular set of behaviours but rather should be held accountable for desired outcomes. This perspective looks beyond competencies, which have a tendency to focus on what needs fixing, and instead focuses attention on the whole person and on peoples strengths and natural talents, not on a reductionism list of idiosyncratic competencies (Buckingham Vosburgh, 2003). Development is increasingly seen as a process of developing and leveraging strengths and of understanding and minimizing the impact of weaknesses. Work/Life Balance Revisited Health and well-being at work are issues of increasing interest and attention, including their relevance to leadership. In an environment of constant change and unrelenting competition, managing stress and personal renewal to avoid burn-out are becoming a central focus for leadership development. Dealing with multiple and competing demands of a fast-paced career and personal/family relationships and responsibilities is a common challenge, and there is increasing recognition that a persons work and personal life have reciprocal effects on each other. We know that individual leader effectiveness is enhanced when people manage multiple roles at home and at work but we continue to learn more about the organizational benefits and maybe even the benefits to family and community as well. We also know leadership effectiveness is correlated with better health and exercising HUMAN RESOURCE PLANNING (McDowell-Larsen, et al., 2002). We need to better understand which assumptions about organizational life are challenged by the idea of work/life integration as well as which changes organizations need to make to facilitate greater work/life integration. Challenging work/life situations are integrally related to the need for, and development of, resilience. Resilience is the ability to bounce back from adversity or hardship, a characteristic that can be developed at any time during a persons life. It is an active process of self-righting and growth that helps people deal with hardships in a manner that is conducive to development (Moxley Pulley, 2004). One of the fundamental characteristics of resilience is that it allows individuals to take difficult experiences in their lives and use them as opportunities to learn. This, in turn, develops their ability to face hardships successfully in the future. The Future Several trends will have a major role in our future understanding and practice of leadership and leadership development. They represent, in different ways, the critical role changing contexts will play in leadership development. Leadership competencies will still matter; Globalization/internationalization of leadership concepts, constructs, and development methods; The role of technology; Increasing interest in the integrity and character of leaders; Pressure to demonstrate return on investment; New ways of thinking about the nature of leadership and leadership development. Leadership Competencies Will Still Matter Leadership competencies will still matter, but they will change as the competitive environment changes. According to a Conference Board study (Barrett Beeson, 2002), five critical forces will shape leadership competencies (requirements) in the future: 1) global competition, 2) information technology, 3) the need for rapid and flexible organizations, 4) teams, and 5) differing employee needs. Given these, most organizations will not need the Lone Ranger type of leader as much as a leader who can motivate and coordinate a team based approach? This new environment will have greater ambiguity and uncertainty, and many if not all aspects of leadership (e.g., strategy development) will require a more collaborative approach to leadership. The model of effective leadership in the future will be one of encouraging environments that unlock the entire organizations human asset potential. The Conference Board report Developing Business Leaders for 2010 (Barrett Beeson, 2002) identified four essential roles for meeting the business challenges of the future, and the career derailers that will matter most in the future. The four essential roles for meeting future business challenges include master strategist, change manager, relationship/network builder, and talent developer. The most important derailers in the future include hesitancy to take necessary business risks; personal arrogance and insensitivity; controlling leadership style; and reluctance to tackle difficult people issues. Changes in the context in which leadership is practiced will bring certain competencies evenmore to the forefront, including globalization, the increasing use of technology, and public scrutiny of the character and integrity of leaders. Globalization/Internationalization of Leadership Concepts, Constructs, and Development Methods Future leaders will need to be conversant in doing business internationally and conceiving strategies on a global basis. Globalization will intensify the requirement that senior leaders deal effectively with a complex set of constituencies external to the organization. (e.g., responsibility for managing the companys interface with trade, regulatory, political, and media groups on a wide range of issues). Leadership development is rapidly moving to include substantial components involving international markets, world economic trends, and focus on particular regions such as the Asia Pacific rim (Cacioppe, 1998). Leaders are being exposed to how the world is becoming interdependent and the need to be up to date with international trends that are vital to the success of the business. Use of the internet to obtain information and to market products and services worldwide is a topic in many current leadership development programs. The Role of Technology The technology revolution has changed organizational life. It has changed the ways information and knowledge are accessed and disseminated, and the ways in which people can communicate and share with one another. This has profound implications for what effective leadership will look like as well as how to use technology most effectively in leadership development. Leaders will clearly have to be much savvier with regard to technology in general. Facility and comfort with communication technology and the internet will be a necessity. Given the pace of change and the speed of response time that leaders are now required to demonstrate, technological savvy has rapidly become an integral aspect of leadership effectiveness. It has even been noted that the effective use of technology is proving to be a hierarchy buster. It can be an avenue for people to communicate with leaders at all levels and whenever they need to at any time. Leading virtually is already a reality, and requirements to lead geographically dispersed units and teams will only increase. Technology will not be a solution for this challenge, but it will surely be a tool. The pressure on costs, increased reality of virtual teams, and availability of technology leadership development has reduced the need for people to travel to training programs, will make learning opportunities available to geographically dispersed leaders, and will allow individuals access to learning opportunities when it best suits their schedule. Technology can extend learning over time rather than limiting it to time spent in the classroom. Technology will also enhance the emergence and sharing of knowledge among participants via such venues as chat-rooms, thought leader access, e-learning advances, e-mentoring/ shadowing, and business simulations. While technology is useful for some aspects of leadership development, it cannot replace the importance of bringing leaders together to deepen their relationships and their learning experience. Maximizing the effectiveness of leadership development offers the best of both worlds: integrating face-to-face classroom and coaching experiences with technology-based tools and processes, i.e., blended learning solutions (e.g., Alexander Ciaschi, 2002). Increasing Interest in the Integrity and Character of Leaders The 1990s witnessed ethical lapses and arrogance among senior executives of certain companies of disturbing-if-not-unprecedented magnitude. Enron and WorldCom were two notable examples. Such events probably accelerated and deepened growing sentiment among many-including members of organizational governance boards-that interrelationships among leadership, character, and values ought to be made more salient. It is probably not a coincidence that a recent article in CEO Magazine (Martin, 2003) observed that the age of the imperial CEO is waning. In its place, a crop of new CEOs humble, team building, highly communicative are rising (p.25). Similarly, one of the intriguing and unexpected findings in the book Good to Great (Collins, 2001) was of the universally modest and self-effacing nature of CEOs in the good-to-great companies. This contrasts considerably with the often flamboyant and self-promoting style of many popular business leaders in recent years who, despite celebrity status, typically did not have an enduring positive impact on their companies. Bass and Steidlmeier (1999) noted that transformational leadership is only authentic when it is grounded on the leaders moral character, concern for others, and congruence of ethical values with action. A leaders credibility and trustworthiness are critical, and increasing numbers make the case that character-as defined by qualities like ones striving for fairness, respecting others, humility, and concern for the greater good-represents the most critical quality of leadership (e.g., Sankar, 2003). Assuming there is continuing if not increasing interest in the character of leaders, much work is needed in the years ahead to assure greater clarity of concept about these vital-yet-elusive concepts if they are to play a prominent role in leadership development practices in organizations. Pressure to Demonstrate Return on Investment The future trends noted reflect in part a response to the changing context of leadership. Perhaps the strongest pressure facing leadership practitioners in the future may be to demonstrate ROI (Kincaid Gordick, 2003). While leadership development is strategically important, it is usually expensive. Yet while leading-edge companies today such as PepsiCo, IBM, and Johnson and Johnson spend significant time and resources on leadership development, attempts to quantify its benefits precisely have remained elusive and have led some to speculate that investment in developing better leaders may be falling short of the desired impact. In todays economy, leadership development expenses will likely have to meet certain standards of proof of impact or return on investment. Demonstrating and quantifying the impact of leadership development investments is likely to emerge as a priority for organizations committed to building leadership strength. To maximize ROI for leadership development efforts, its payoffs organizations must effectively plan, implement, and evaluate their initiatives. They must create a chain of impact that connects leadership development to relevant organizational outcomes (Martineau Hannum, 2003). Historically, most organizations have not closed the loop through systematic evaluation and thus make assumptions about its efficacy based on anecdotes, reactions, or hunches. New Ways of Thinking about the Nature of Leadership and Leadership Development Emerging new perspectives on the nature of leadership may profoundly affect our thinking about leadership development. Increasingly, leadership and leadership development are seen as inherently collaborative, social, and relational processes (Day, 2001). Similarly, Vicere (2002) has noted the advent of the networked economy where partnerships, strategic and tactical, customer and supplier, personal and organizational, are essential to competitive effectiveness. As a result, leadership will be understood as the collective capacity of all members of an organization to accomplish such critical tasks as setting direction, creating alignment, and gaining commitment. Leadership development based on this paradigm is more difficult to design and implement than those that have been popular for the last several decades in which the focus was to train individual leaders. Taking this next step will require a deeper understanding of the role of organizational systems and culture in leadership development (VanVelsor McCauley, 2004). Conclusion The dual challenges of understanding the nature of leadership development and implementing effective leadership development practices will likely be greater than ever before. At the same time, we find ourselves guardedly optimistic about the fields future. Our optimism is directly tied to some of the trends that make the future both challenging and interesting. For example, leadership development practices will need to become better integrated in the broader context of organizational business challenges and systems. Thus, not only will organizations need to hire and develop leaders, they will also need to be the kind of organizations that nurture and reinforce enactment of the kinds of behaviours desired in those leaders. Similarly, demands to demonstrate ROI can encourage greater rigor and clarity in our understanding of the nature of leadership development and in how we assess its impact. Meeting such challenges will be one important thrust of more comprehensive efforts in the years ahead to demonstrate convincingly the strategic role of people in organizations.

Analyse the case study with reference to Michael Porter’s Theory :: Business and Management Studies

Analyse the case study with reference to Michael Porter’s Theory of Competitive Advantage and answer the following question: Does America have competitive advantage in the textile and garment industry? Analyse the case study with reference to Michael Porter’s Theory of Competitive Advantage and answer the following question: Does America have competitive advantage in the textile and garment industry? You answer must include the following elements: 1. A clear outline of Porter’s theory with supporting references. 20% 2. An analysis of the case study with reference to the 4 main elements of Porter’s Diamond. (N.B. You will not be able to comment on company structure, as the case study does not include information on this. You should, however, refer to factor conditions, demand conditions, firm rivalry and related and supporting industries.) 40% 3. An analysis of the case study with reference to Porter’s secondary points of chance and government actions. 20% 4. Your conclusion. 10 % The remaining 10 % will be for grammar, style, clarity, using the correct system of referencing (the Harvard System) etc. Literature: Michael E. Porter. The Competitive Advantage of Nations. Does America have competitive advantage in the textile and garment industry? For a country to have a competitive advantage, it is necessary to understand Michael Porter’s Theory of National Competitive Advantage. Michael Porter introduced a model that allows analysing why some nations are more competitive than others are, and why some industries within nations are more competitive than others are, in his book The Competitive Advantage of Nations. This model of determining factors of national advantage has become known as Porters Diamond. It suggests that the national home base of an organization plays an important role in shaping the extent to which it is likely to achieve advantage on a global scale. This home base provides basic factors, which support or hinder organizations from building advantages in global competition. Porter distinguishes four determinants: Factor Conditions The situation in a country regarding production factors, like skilled labour, infrastructure, etc., which are relevant for competition in particular industries. These factors can be grouped into human resources (qualification level, cost of labour, commitment etc.), material resources (natural resources, vegetation, space etc.), knowledge resources, capital resources, and infrastructure. They also include factors like quality of research on universities, deregulation of labor markets, or liquidity of national stock markets. These national factors often provide initial advantages, which are subsequently built upon. Each country has its own particular set of factor conditions; hence, in each country will develop those industries for which the particular set of factor conditions is

Epo in Sport

Competitive athletes are constantly in search of ways to get better, seeking a slight edge over their closest competition. They are willing to practice for countless hours, put themselves through rigorous training and follow a very strict diet. Those who are passionate about their sport are willing to do just about anything to improve performance, but just how far are athletes willing to go? With recent advancements in sports science, it has become possible to alter some elements of human physiology.The human body has been meticulously studied over the years, and as a result we are able to comprehend how complex systems function enabling the human body to perform simple everyday functions, as well as, impressive athletic performances. Science has discovered there are ways to improve the physiology of the human body to enhance athletic performance. By carefully tailoring specific functions to enhance a specific task an athlete will most likely be able to get the â€Å"one up† o n the competition.Science has also discovered there are dangers associated with tampering with these complex systems that keep the human body alive and well. Unfortunately, some athletes ignore the physiological risks/ professional repercussions and indulge in enhancing some physiological processes in order to gain a slight edge against the competition. Today, as well as in the past, various sporting organizations have had to deal with performance-enhancing issues through testing of their athletes, yet these people continue to seek out ways to sneak under the wire, undetected.One example of athletes trying to beat the system is that of the recently publicized performance-enhancing dispute with blood doping in the sport of cycling, namely the use of recombinant human erythropoietin (Robinson, Mangin, and Saugy 2003). The following will discuss the function of erythropoietin, its uses in medicine and athletics, the benefits and risks of artificial along with testing methods for detect ion of illegal use. In order to perform in endurance sports, efficient oxygen delivery from lungs to muscles is crucial.The cells responsible for oxygen delivery are erythrocytes, or red blood cells. The functional portion of the red blood cell that acts as an oxygen carrier is the protein molecule hemoglobin (Kraene, Fleck and Deschenes 2012). Hemoglobin is a four part haem-iron containing protein, with two alpha and two beta subunits associated with each molecule. Hemoglobin accounts for 99% of the protein composition of an erythrocyte (Lippi, Franchini, Salvengo et al). Circulating blood contains approximately 40-45% red blood cells in its composition (Kraene, Fleck and Deschenes 2012).The hemoglobin associated with each red blood cell has a specific mechanism for pick-up and delivery of oxygen. This mechanism depends on varying physiological body conditions during which oxygen has differing affinity for the hemoglobin molecule. The conditions at which affinity for oxygen is high include lower body temperature, low carbon dioxide, and low 2,3-diphosphoglyerate (Elliott 2008). As these are the conditions found in the lungs, plentiful oxygen will bind to the hemoglobin for transport to the tissue cells in the body.In the tissue where carbon dioxide concentrations are high, body temperature increases, higher hydrogen ion and ,2,3-disphosphoglycerate concentrations, oxygen affinity for hemoglobin is reduced, resulting in the delivery of oxygen to tissues (Elliott 2008). During physical exercise, the body's consumption of oxygen is increased due to the demand of working muscles. As a result of this process, the carrying capacity of hemoglobin is adjusted automatically to deliver adequate oxygen to the muscle tissues (Lippi, Franchini, Salvango et al 2006).Applying this principle of supply and demand, to an endurance sport, one can see how an athlete’s aerobic training regime aims to peak the efficiency of the process of oxygen delivery from lungs to muscl e tissue. To maximize the process of oxygen delivery, a high number of circulating erythrocytes is desired, resulting in more available hemoglobin and therefore more oxygen can be delivered to working muscles. Red blood cell (RBC) production, called erythropoiesis, is carefully controlled and monitored by the body (Lippi, Franchini, Salvango et al 2006).This monitoring system involves oxygen-sensing cells to detect hypoxia (low oxygen concentration) in the body. During oxygen deprivation, a nerurosecretory mechanism is activated through chemoreceptors found in the carotid body ( in the carotid artery found in the neck) and in the lungs. If out of balance, the body undergoes rapid cardiopulmonary adjustments to compensate for the current stress of hypoxia (Kraene, Fleck and Deschenes 2012). One of the factors present during hypoxia is the hypoxia inducible factor, HIF-1.This molecule acts as a transcription factor for controlling several genes (Lippi, Franchini, Salvango et al 2006). When oxygen levels are low, the enzymes that normally inhibit HIF-1 cease their activity. The HIF-1a molecule becomes available is now capable of binding with HIF-b to cross the nuclear membrane of the cell and promotes gene transcription (Lippi, Franchini, Salvango et al 2006). One of the main coding events that occurs as a result of the gene transcription is production of erythropoietin (Epo).This endogenous Epo is then produced in the body, specifically in the peritubular capillary-lining cells of the renal cortex of the kidneys, with minute amounts produced in the liver and brain (Kraene, Fleck and Deschenes 2012). When the Epo molecule is synthesized, the composition is initially a 193 amino acid molecule that eventually is released as a 165 amino acid protein with much of the total molecule composed of carbohydrate (Lippi, Franchini, Salvango et al 2006). The release of Epo from the kidney to the blood then stimulates erythropoiesis in the bone marrow (Kraene, Fleck and Desch enes 2012).Science advancements in the 1980’s have led to a synthetic form of Epo known as recombinant human Epo (rHuEpo) (Spedding and Spedding 2008). It was first introduced by a team of researchers at the Northwest Kidney Centres, who conducted clinical trials that resulted in the first successful artificial form of this hormone (Eichner 2007). The production of rHuEpo, from mammalian cells to treat anemic patients was approved by the U. S. Food and DrugAdministration in 1989 (Elliott 2008). Today human recombinant erythropoietin is available in a variety of forms.It is synthesized with an amino acid sequence identical to that of endogenous erythropoietin, with slight differences in composition of carbohydrate portions of the molecule (glycosylation) (Lippi, Franchini, Salvango et al 2006). Alpha and beta erythropoietin are produced from Chinese hamster ovary cells with the only differences being a slightly longer half-life and slight difference in molecular weight (Lippi, Franchini, Salvango et al 2006). Another form of Epo is Erythropoietin gamma. It is produced from a different host cell and as a result has a different glycosylation pattern (Lippi, Franchini, Salvango et al 2006).Erythropoietin delta, yet another variation of the synthetic hormone, is the most recently introduced form. This type is produced from human cells, and has identical amino acid and glycosylation patterns as endogenous Epo, with a longer half-life of 18-20 hours compared to the 7-12 hour range of alpha and beta forms (Lippi, Franchini, Salvango et al 2006). The current research is clinically testing a protein called Continuous Erythropoietin Receptor Activator (CERA). This protein has a half-life of 133-137 hours, which equates to less frequent dosing.CERA unlike other synthetic forms of this hormone, has very mild side-effects and has yet to produce any serious adverse effects (Lippi, Franchini, Salvango et al 2006). This type of synthetic Epo may be the best option avail able for patients who require treatment for anemia (low hemoglobin levels). Unfortunately, some people suffer anemia due to various medical issues such as kidney disease, chemotherapy for cancer, HIV, blood loss, et cetera (Kraene, Fleck and Deschenes 2012). The body's demand for Epo becomes more significant when such medical conditions arise.Often times Epo needs to be artificially supplemented to compensate for the lowered hemoglobin production/ hemoglobin loss (Catlin, Fitch and Ljungqvist 2008). Originally, recombinant human erythropoietin was developed as a substitute for endogenous Epo for those who suffered from abnormal blood conditions. It is highly effective in increasing hemoglobin levels, and as a result has numerous benefits such as, reduction in required blood transfusions, restoring energy levels, increase in exercise capacity, improves cognitive function and overall quality of life improvement (Elliott 2008).When administering this hormone, the dose, frequency of adm inistration, the rate of rise of hemoglobin and target hemoglobin levels are strictly controlled (between 10-12g per 100mL), slightly lower than the range for normal range of 13-15g per 100mL. The lower range is maintained in order to keep the risks and side effects of the rHuEpo minimal (Lippi, Franchini, Salvango et al 2006). Careful monitoring and control is used to maximize the benefits for patients while minimizing the risks.Recombinant Epo not only benefits those who are suffering a blood condition but it has significant benefits to athletic performance (Elliott 2008). It is used illegally as an ergogenic aid primarily in endurance sports, such as cross-country skiing, track, swimming, and most notoriously, cycling (Bento, Damasceno, Neto 2003). One study, as noted in Exercise Physiology (Kraene, Fleck and Deschenes 2012), that involved well-trained male endurance athletes administered recombinant human erythropoietin 3 times a week for 30 days or until hematocrit levels reach ed 50%.The following resulted: an average hematocrit increase of 18. 9% (range of 42. 7-50. 8%), cycling time to exhaustion had increased 9. 4% (12. 8-14. 0 minutes longer), and cycling VO2 peak had increased 7% (range of 63. 8-68. 1 ml/kg/min). Another study also noted in Exercise Physiology (Kraene, Fleck and Deschenes 2012) gave low-dose subcutaneous injections of rHuEpo over a 6 week period to moderately to well-trained athletes and what resulted was a 6-8% increase in VO2 peak, time to exhaustion on a treadmill increased 13-17%, and hemoglobin concentration and hematocrit both increased by approximately 10% each.The use of recombinant human erythropoietin is found to have clear benefits in athletic performance, with higher trained individuals exhibiting enhanced results. At an elite level, where competition is so close, it is tempting for athletes to gain an edge over their competition though the use of rHuEpo. There is a certain amount of pressure on athletes in cycling to use ergogenic aids due to the fact that so many of the sport's top competitors are using it to boost performance (Vogel 2004). In cycling, the abuse of this ergogenic aid has recently come to light in the media.Although many benefits can be reaped in athletic performance from recombinant erythropoietin, it is not without risks. When synthetic forms were first introduced, many of the risks were unknown to athletes and use was not medically monitored as would be the case with an anemic patient. As a result, sudden heart attacks occurred that led to more than a dozen deaths of Dutch and Belgian cyclists (Vogel 2004). Their deaths were connected to inappropriate administration of rHuEpo. This form of Epo had not yet been clinically studied from an athletic perspective.The combination effect of increasing hemoglobin to well above normal range along with other factors associated with endurance sports, makes tampering with the body's natural blood physiology dangerous and potentially deadly ( Robinson, Magin and Saugy 2003). Myocardial infarction, cerebrovascular disease, transient ischemic attack and venous thromboembolism were all found to be potential events associated with the misuse of rHuEpo (Catlin, Fitch and Ljungqvist 2008). Due to the increase of red blood cells, the blood becomes more viscous and leads to an increased frequency risk of thrombotic events.There have also been proven reports of increased risk for migratory thrombophlebitis, microvascular thrombosis and thrombosis of cerebral sinuses, retinal artery, and temporal veins. The increased blood viscosity also increases systolic blood pressure during sub-maximal exercise and increases platelet reactivity resulting in risk of more blood clotting (Bento, Damasceno, and Neto 2003). One of the most serious risks found to be associated is that of red cell aplasia in which red blood cell formation ceases. Although rare but ife-threatening, this condition was found to be linked to the use of subcutaneous alpha -Epo (Lippi, Franchini, Salvango et al 2006). Anemia may also develop in individuals who mis-use rHuEpo after they discontinue the hormone, as it causes progressive erythroid marrow exhaustion due to prolonged periods of use. Some other risks and side effects include headache, muscle cramps, incomplete deviation of red blood cells, convulsion, and upper respiratory tract infections (Kraemer, Fleck and Deschenes 2012). The risks of using rHuEpo are more significant for athletes than average patients who are using for treatment.Athletes pushing to increase hemoglobin outside of a normal range run the risk of life-threatening circulatory/blood abnormalities. Testing for the use of banned erythropoietin in sports has been an ongoing challenge. As quickly as testing laboratories can produce testing methods for banned substances, new ways to slide under detection are being found (Cazzola 2000). It is difficult to directly identify rHuEpo as it has a relatively short half-life in most form s, for example an administration of 50 IU/kg given subcutaneously has a half-life of approximately 35. hours, and intravenous administration has a half-life ranging from 4 to 7 hours (Lippi, Franchini, Salvango et al 2006). Athletes could selectively time the administration of Epo and combined with concealing strategies to slip under the wire. As a result, laboratories are required to look at specific biomarkers that indicate past or current use of rHuEpo (Delanghe, Bollen and Beullens 2007). Human recombinant erythropoietin was initially a challenge to detect as various forms are extremely similar to that of endogenous Epo (Skibeli, Nissen-Lie and Torjesen 2001).As it is a rising issue in sport, laboratories are required to find better ways to detect the illegal use of rHuEpo. Initially as a measure to deter doping and identify usage, cutoff levels of hematocrit (the percentage of red blood cells in the blood) were established in some sports (Adamson and Vapnek 1991). For example, the International Cycling Union established cutoff hematocrit levels of 47% for women and 50% for men. This method was flawed, as it sometimes produced false positive results in athletes with naturally high hematocrit levels (Casoni, Ricci, Ballarin et al 1993).Currently, there is no foolproof testing method to detect the use of recombinant human erythropoietin. A combination of indirect and direct testing is currently the most effective method to identify blood dopers (Cazzola 2000). Indirect testing uses a blood sample and is based on the analysis of hematological parameters, including measures of hemoglobin, hematocrit, soluble transferrin receptors, serum Epo, percent reticulocytes, and macrocytes (Delanghe, Bollen and Beullens 2007).Changes observed in the above measures are often a result of introducing recombinant Epo to the body and can be used as an indirect marker to detect the substance (Skibeli, Nissen-Lie and Torjesen 2001). There is a reference range of parameters set for this form of testing, one indicating current use of Epo while the other can indicate recently discontinued use of Epo (Parisotto, Wu, Ashenden et al 2001). Indirect testing has the advantage of being able to detect Epo use several weeks after it has been administered, however the disadvantage of possibly producing false-positive results (Delanghe, Bollen and Beullens 2007).Changes in the measuring parameters used in indirect testing can also be the result of the body's natural modifications from training methods such as altitude training (increasing RBC levels due to lower oxygen at higher altitude, a naturally occurring body compensation) (Kraemer, Fleck and Deschenes 2012). Indirect testing is useful in being a primary indication of recombinant erythropoietin use, yet it is not completely reliable.If use of Epo is suspected after using indirect testing methods, direct testing will follow to confirm or deny the results (Birkeland and Hemmersbach 1999). Direct testing for recomb inant Epo involves the collection of a urine sample. The urine sample needs to be fairly large (20ml) and strongly concentrated (between 700-1000 fold) (Elliott 2008). The approved test that uses the direct approach is based on differences in glycosylation between endogenous Epo and artificial forms (Elliott 2008).The recombinant and endogenous forms of erythropoietin have varying isoelectric points (pI). Using isoelectric focusing (IEF), the isoelectric points can be determined (Skibeli, Nissen-Lie and Torjesen 2001). The normal range for the pI of endogenous Epo is 3. 7-4. 7, while alpha and beta Epo have a slightly higher range of 4. 4-5. 1. The Aransep form of Epo has 2 extra N-glycosylaton sites in order to increase its stability, resulting in a pI range of 3. 7-4 (Parisotto, Wu, Ashenden et al 2001).In order to see the isoforms of Epo, double immunoblotting is used in combination with monoclonal anti-Epo antibodies. The interaction of the antibodies with the recombinant forms of Epo shows if illegal forms are present in the urine (Skibeli, Nissen-Lie and Torjesen 2001). The purpose of the double immunoblotting technique is to avoid secondary antibodies interacting with proteins in urine and affect the test. A technique known as chemiluminescence is used on the blot to image the Epo (Skibeli, Nissen-Lie and Torjesen 2001).Direct testing can detect most forms synthetic Epo. When a test is found to be positive for an illegal form of Epo, a second test is performed due to the fact that occasionally enzyme activity causes a shift in the electrophoretic banding pattern of the molecule (Parisotto, Wu, Ashenden et al 2001). Additional stability testing is performed where the urine sample is incubated overnight in an acetate buffer and rHuEpo. If a banding shift is observed during the isoelectric focusing, it can be determined that the sample is negative for rHuEpo (Parisotto, Wu, Ashenden et al 2001).The direct testing method is currently the most reliable and a pproved approach and can be used during competition and off-competition periods (Elliott 2008). The development of recombinant human erythropoietin was originally an approach to treat low hemoglobin levels in anemic patients. The athletic gains that can be exhibited through introducing rHuEpo have caused abuse at the elite level in many sports. Other than disqualification and loss of credibility as an honest athlete, there are also medical risks associated with tampering with the blood's physiology in artificial ways.A combination of testing methods is currently used to identify those using rHuEpo as an ergogenic aid, as there is no single test that can clearly deny of confirm use. New ways to slip under the wire with testing are being discovered and used by athletes and laboratories are constantly working to keep up. The use of recombinant human erythropoietin is a serious issue of misconduct in sport and needs to be ended in order to keep competition ethical and fair.

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Jeffrey Skilling, former CEO of Enron, was said to be â€Å"incandescently brilliant† by many at Enron. In reality, he was a risky, danger-seeking gambler. Skilling had a Darwinian view and strongly beli eved in the idea of â€Å"survival of the fittest†. He implemented a group called the Performance Review Committee. The committee was involved in the â€Å"rank and yank† system, in which the bottom 15 percent of the company got fired each year. This ultimately led to numerous unethical actions and turning a blind eye to fraud because of employees’ determination for job  security. Skilling was a former nerd, and went on to change himself. He was very admired at Enron. When he got Lasik surgery, everyone else did too. Skilling was responsible for making energy into a tradable entity and for his advocacy of mark-to-market accounting, which was the main tool for Enron’s earnings manipulation. Fastow was a very greedy man. He served as CFO of Enron. He was responsible for running numerous companies that partnered with Enron. He mainly worked to cover up the financial fantasy land that Lay and Skilling had created. He was hired before age 30 by Skilling to join Enron. He always idolized Skilling and wanted to please him. He ended up hiding about $30 billion in debt through his companies. In addition, he skimmed off many of the deals he made, using Enron stocks as collateral. Fastow did not have a strong moral compass, and would play to the greed of the investment banks. He would offer investment banks accounts for their silence. One analyst, John Olsen, star ted to question the firm, and weeks later, was fired by the investment bank because Fastow paid off the bank with big Enron accounts. 3.(a) Describe the organizational culture at Enron. (b) How did the organizational culture contribute to the Enron scandal? (15 points) The culture at Enron was very cut-throat and filled with greed. Money drove the company and its employees. In fact, even the elevators had displays of the stock prices. The company was overtaken by hubris as well. Everyone was on the bandwagon—the accounting firm, investors, executives, and employees. The entire company thought it was changing the world. Everyone was blinded by arrogance, greed, and money. Enron was always portrayed as a super power in the market. It was said that is someone wanted to be part of the market, they had to go through Enron. In addition, many employees, including Skilling, were former nerds and had something to prove. There was a very macho culture at Enron. Skilling would organize dangerous, macho trips for employees and big clients. The stories from these adventures became legend. One man almost died from a flipp ed Jeep. Stories like that were legendary in the office. 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In addition, to prevent anyone from raising any flags, Enron played on the greed of the outside accounting firm, Arthur Anderson, as well as law firms. In fact, in 2001, Arthur Anderson got $1 million a week to keep things quiet and go along with everything. The la w firm was paid off handsomely as well. Analysts at investment banks would never really look into things because of greed as well. Because of all the bonuses, outsiders turned a blind eye, as did employees, which ultimately gave way to the scandal that ensued. 5.(a) Describe the regulatory/oversight weaknesses for Enron. (b) How did the regulatory/oversight weaknesses contribute to the Enron scandal? (15 points) Enron sought to take advantage of the low level of government regulation and the hyper capitalism created by the reigning consumer culture of the time. The company was run by a group of intelligent individuals who recognized they could take advantage of the government failure of low regulation. 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They made the banks lots of money, so they probably kept their jobs and got a slap on the wrist. More consequence in the public eye would deter these actions in the future.