Human Resource Planning National University Of Sciences & Technology

HUMAN RESOURCE PLANNING NATIONAL UNIVERSITY OF SCIENCES and TECHNOLOGY, PAKISTAN ARQUM NAVEED Abstract Human Resource Planning (HRP) is a troublesome point to examine, especially at the hour of progressively problematic business conditions causing undeniably more unsettling influence, which increment the pressure between the requirement for arranging and the challenges of expectation. Albeit a troublesome subject, the hidden reason for existing is direct, HRP is alluding with having the perfect individuals at opportune spot and with right skills.The intensions of this archive are to check the idea of, and how much organizations can deal with this multifaceted nature. For this archive, various firms have been utilized so as to distinguish if there are any firm-explicit contrasts with respect to HRP customs. Results from our examination of the contemplated firms shows that the level of solidness in their particular firms, as far as worker turnover and conservative variances, obviously influences the manner by which they approach HRP. Catchphrases Human Resource Management, Strategic Planning, Human Resource Planning. 1.Introduction Organizations are feeling the squeeze to discover approaches to actualize their techniques in a quick changing business condition, in which arranging lifecycles will in general psychologist to decrease the ‘time-to-market’ spans. Simultaneously, associations are putting increasingly more accentuation on changing the association and workers in their endeavor to accomplish business objectives . â€Å"HRP is generally observed as a basic element of the perfect kind model of human asset the executives, regardless of whether it doesn't generally give off an impression of being given high need in practiceâ€Å"(Rothwell, 1995).The issue of effective getting ready for individuals was raised before the presentation of human asset the board. One potential clarification was introduced by Story (1995), who presents that as the crea ting industry condition powers associations to design successfully and productively for the individuals assets, the quick changes in the business condition likewise makes it hard for associations to design with exactness. In the light of this we need to explore how much associations plan for HR in today’s business condition. 2. Human Resource Planning †Concept ClarificationAs in numerous territories of work force the executives, there is disarray about the exact implications of the terms used to depict the human asset arranging capacities. As indicated by Taylor (1998), â€Å"The primary differentiation is between the individuals who see the term ‘human asset planning’ as having comprehensively a similar significance as the more drawn out set up terms ‘workforce planning’ and ‘manpower planning,’ and the individuals who accept ‘human asset planning’ to speak to something rather extraordinary. † According to Bramh am (1994), â€Å"There is a major qualification between the two terms.He contends that ‘manpower planning’ is basically quantitative in nature and is worried about estimating the interest and flexibly of work, while ‘human asset planning’ has a far more extensive importance, including plans made over the entire scope of faculty and improvement movement. These exercises incorporate delicate issues, for example, inspiration, worker mentalities and hierarchical culture. † The contrary sentiment is that, the term ‘human asset planning’ is just an increasingly present day and impartial term with basically a similar importance as ‘manpower arranging. Both are worried about looking forward and utilizing methodical procedures to evaluate the degree to which an association will have the option to meet its necessities for work later on (Taylor, 1998). They are in this manner attempted so as to evaluate whether an association is probably goin g to have ‘the correct individuals, with the correct aptitudes, in the correct spots at the privilege time’ (Ibid). As indicated by this definition, human asset arranging is a moderately particular sub-discipline inside the general action attempted by staff administrators. There are various perspectives on the particular significance of HRP.We contend that it is in excess of a quantitative methodology, as we accept that issues, for example, worker maintenance, mentalities and inspiration are fundamental highlights for having the perfect individuals, with the correct aptitudes, in the correct spots at the ideal time. Subsequently, we concur with Bramhams’s see that HRP has a more extensive significance, including â€Å"soft† HR issues and the one is acknowledged with the end goal of this content. 3. The Evolution of HRP Since the birthplaces of the cutting edge modern association, human asset arranging has been an administration work (Walker, 1980).Division of work, specialization, association of the executives into levels, work improvement, and utilization of norms for choosing representatives and estimating their presentation were all standards applied from the get-go in mechanical administration (Ibid). Getting ready for the staffing of work to be done isn't something that has gotten famous as of late. This is something that has developed to become what it is today. The moderately refined strategies accessible to the executives today are results of an extensive stretch of advancement in rehearses, which began decades prior with straightforward, down to business, present moment planning.The procedures utilized by the board would in general fit contemporary conditions and occasions (Story, 1995). During the initial segment of the twentieth century, for instance, the concentration in labor arranging was upon the hourly creation laborer. The point of improving effectiveness through work designing and early mechanical brain science appl ications was steady with the need to improve efficiency and acquaint more prominent objectivity with staff works on (Ling, 1965; Merril, 1959; Yoder; 1952). During the Second World War and the post war years, the attention heightened on representative productivity.There was likewise more noteworthy concern in regards to the accessibility of skilled administrative work force, as there was an ability deficiency in mix with huge interest for merchandise and enterprises. New advancements and interests in conduct parts of work likewise added complexities to the labor arranging task. In the 1960’s the interest for high ability work force expanded because of high innovation developers, fast corporate extension and broadening. So as to deal with this expansion, labor arranging rehearses were centered around offsetting flexibly with request, especially interest for administrative, expert and specialized personnel.According to reading material composed during the later piece of the 196 0’s, labor arranging was seen as a framework connecting the association with its condition (Patten, 1969; Vetter, 1967). Walker (1980) contends that the most widely recognized perspective on labor arranging around then, which likewise overwhelmed the writing until the 80s, was that â€Å"companies estimate their requirements for labor into the future, gauge their inward work flexibly for addressing these necessities, and distinguish the holes between what will be required and what will be accessible. Further, labor organizers create plans for enlisting, choosing and putting new workers, accommodate preparing and advancement and foresee essential advancements and moves (Burack et al, 1972; Geisler, 1967; Henemann et al, 1968; Wikstrom, 1971). The 70s accompanied new enactment, court choices and administrative guidelines. The board consideration at that point went to governmental policy regarding minorities in society arranging and different parts of consistence. While numerou s organizations embraced the strategies that had been presented by driving organizations during the earlier decades, ther explored different avenues regarding new instruments, for example, vocation arranging, movement investigation, and reshaping of work (Walker, 1980). Most of organizations, in any case, were essentially worried about the consistence with the critical new guidelines overseeing separation, security and benefits. For the most part, it was an agitated decade, during which directors needed to manage the vitality emergency, unsure expenses and benefits, the easing back of business development and the expanded concern with respect to women’s freedom and opposite segregation (Bramham, 1994).However, as per Bramham, it was during this time or decade that â€Å"manpower planning† was comprehensively being named â€Å"human resource† arranging and turned out to be broadly settled as a staff action in significant business and legislative associations (Ibi d). The term â€Å"human asset planning† suggested a degree more extensive than simply gracefully request adjusting or quantitative guaging. Human asset arranging moved concentration from being a quantitative methodology, despite the fact that perceiving its significance, to a progressively far reaching perspective on the procedure enveloping the two needs anticipating and program estimating (Ibid).During the 80s and mid 90s, human asset the executives specialists and experts would in general spot more noteworthy accentuation on worker mentalities and on the improvement of staff methodologies to look for the upgrade of positive representative emotions and responsibility (Zeffane and Mayo, 1994). By and large, these procedures needed adequate fixation on the need to control the progression of faculty inside and across authoritative limits (Walker, 1989). As per Richards-Carpenter (1989), this implied human asset arranging made a retrogressive stride in need putting inside the general human asset the executives system.However, due to the undeniably dubious financial atmosphere during the 90s, it was foreseen that the HRP work was to turn into the central action, as it was progressively turning into a basic capacity over the association (Zeffane and Mayo, 1994). Damm and Tengbland (2000) contend that later on, the job of the HR work force is to give and build up an alluring hierarchical condition in which the individual feels propelled to develop and build up his/her competence.Furthermore, they state that singular associations won't really be answerable for the individ

Materials Assignment Example | Topics and Well Written Essays - 2500 words

Materials - Assignment Example Capacity tanks and different structures working in a destructive situation would favor the utilization of treated steel material of thickness 8200kg/m^3. ((Bansal R.K, 1998) Measurement of densities is basic since a flawed item with a splits or porosity would show an alternate thickness. Assurance of thickness of a segment in a roundabout way prompts the estimation of the all out weight of the structure and the relating worry because of this self weight. 2. Anxiety Stress is characterized as the power of power or power per unit zone. In a building structure the most extreme passable worry for a specific material is predefined and is a component of its yield quality. Along these lines when a part has worries past the admissible range, the zone opposing this power is expanded to bring it inside the suitable range. Strain is characterized as characterized as the prolongation of a structure for each unit length. Computing the strain enables the structure to design in contrasting the qual ities and the most extreme suitable diversion.( Timoshenko Stephen and Gere James, 2004) 3. Tractable and Compressive quality When a power is applied on bar or a structure in such a way, that it compels it to lengthen, the subsequent burdens are pliable pressure. The most extreme estimation of this specific worry for a specific material is called Tensile quality. ... The conduct of the material is straight till this point. (b) The strain increments quickly and the material shows flexible conduct up to as far as possible. (c) Beyond this point a huge increment in strain has just a minor change in malleable power. The material now is yielding and where this beginnings is known as the yield point. (d) Beyond the yield point to the lower yield point the material show plastic conduct with enormous change in strain demonstrating no change or an incomplete plunge in pressure esteems. The material is in this way experiencing plastic disfigurement.( Timoshenko Stephen and Gere James, 2004) 5. Modulus of Elasticity-As talked about in the past diagram pressure is straightforwardly relative to strain up to as far as possible i.e Stress ? Strain or Stress= E x Strain. E here speaks to the Modulus of Elasticity and is reliant on the idea of the material. The lengthening for a bar of length L, cross sectional zone An under the effect of a power P having modulus of flexibility as E is given by ?L= P*L/(A*E). Modulus of flexibility is consequently basic in assessing diversions. ( Timoshenko Stephen and Gere James, 2004) Experiment utilizing Round bit of mellow steel ( Timoshenko Stephen and Gere James, 2004) Reading Load Extension Strain Stress 1 50 0.09 0.00046 0.10186 2 100 0.19 0.00097 0.20372 3 150 0.29 0.00149 0.30558 4 160 0.34 0.00174 0.32595 5 165 0.46 0.00236 0.33614 6 170 0.78 0.004 0.34632 7 180 0.84 0.00431 0.36669 8 190 0.91 0.00467 0.38706 9 200 0.98 0.00503 0.40744 10 210 1.07 0.00549 0.42781 11 220 1.24 0.00636 0.44818 12 230 1.49 0.00764 0.46855 13 240 1.88 0.00964 0.48892 14 250 2.39 0.01226 0.5093 15 255 3.95

UGA Orientation - UGA Undergraduate Admissions

UGA Orientation - UGA Undergraduate Admissions UGA Orientation Summer is upon us, and that means one thing (at least in admissions that is): Orientation! If you are a new student to UGA, you are required to attend an Orientation session (and you get to meet the Orientation Leaders in the photo!). In order to have a successful time at Orientation, you need to make sure to take certain steps to be ready for this event. Review the Orientation To-Do list for First-Year and Transfer students. Prior to attending Orientation, make sure you have taken care of several items that are required before you can register for classes at Orientation. Make sure you have cleared your Verification of Lawful Presence requirement (see your myStatus for how to submit documents for this), send in your Health Center Immunization forms well before your session, and complete the Emergency Contact information in Athena. If you have any transfer work that needs to be reviewed and posted to your account (dual enrollment work for freshman, Spring work for Summer/Fall transfers), get the transcripts into UGA ASAP. Getting this transcript in will mean that you can register for courses that might need this work posted as prerequisite credit. In addition, make sure to send in any AP or IB scores to UGA to make sure the Registrar can post the credit. Review the Pre-Orientation Placement Testing information to see if you need to take any placement exams, and if possible, do these prior to Orientation. Many students will be able to exempt one or more placement tests due to SAT/ACT/AP scores, but you need to check and make sure. Send in your final HS transcript. While we do not need this by your Orientation date, it is best to have this sent in as early as possible so you do not forget about this. If this is not sent in by late June, you will be receiving emails/texts reminding you to send it, and not having this sent to us will cause you not to be able to register for Spring 2017 classes and beyond. Do yourself a favor, send it in ASAP! Download the iPhone app for UGA, and review the Orientation section of the app. This app section gives you a glimpse of the projected schedule and helps you understand more what to expect. Orientation is where you will be able to learn about what is means to be a student at UGA and how to chart your path at Georgia, from course registration to advising to activities/clubs and much more.Orientation is a crash course in College 101, and you need to make sure to listen and soak up as much as you can. Go Dawgs!

Bond Energy Definition in Chemistry

Bond energy (E)Â  is defined as the amount of energy required to break apart a mole of molecules into its component atoms. It is a measure of the strength of a chemical bond. Bond energy is also known as bond enthalpy (H) or simply as bond strength. Bond Energy Explained Bond energy is based on an average of bond dissociation values for species in the gas phase, typically at a temperature of 298 Kelvin. It may be found by measuring or calculating the enthalpy change of breaking a molecule into its component atoms and ions and dividing the value by the number of chemical bonds. For example, the enthalpy change of breaking methane (CH4) into a carbon atom and four hydrogen ions, divided by four (the number of C-H) bonds, yields the bond energy. Bond energy is not the same thing as bond-dissociation energy. Bond energy values are an average of the bond-dissociation energies within a molecule. Breaking subsequent bonds requires a different amount of energy.

The Great Gatsby Questions for Study and Discussion

The Great Gatsby is American author F. Scott Fitzgeralds most famous novel. The story, a symbolic portrayal of the decline of the American Dream, is an accurate depiction of the Jazz Age that cemented Fitzgerald as a fixture in literary history. Fitzgerald is a master storyteller who layers his novels with themes and symbolism. Study Questions Here are some questions around which to build a lively discussion for your next book club meeting: What is important about the title of The Great Gatsby?Which adaptations of the novel have you seen? What did you think of them?What are the conflicts in The Great Gatsby? What types of conflicts—physical, moral, intellectual, or emotional—figure in this novel? Are they resolved?Why is Gatsby unable to put the past behind him? Why does he demand that Daisy renounce her former love for her husband?What choice would you have made in Daisys situation?What role does Daisy play in Gatsbys downfall?How is alcohol used in the novel?Why do you think the author chose to tell the story from the perspective of Nick, a friend of Gatsby?How does Fitzgerald reveal character in The Great Gatsby?How is class depicted in the novel? What point is the author trying to make?What are some themes and symbols in The Great Gatsby?What does the green light represent?Why does the author call our attention to the billboard advertising Dr. T.J.  Eckleburg, an optometrist? What is the meaning of t he vacant eyes that watch the characters?Is Gatsby consistent in his actions? Why did he change his name? Do you ever find him fake or contrived? Is he a fully developed character?Do you consider Gatsby to be a self-made man? Is he a good portrayal of achieving the American Dream?Do you find the characters likable? Would you want to meet them?Did the novel end the way you expected?How essential is the setting? Could the story have taken place anywhere else or at any other time?What do you think the lavish parties at Gatsbys mansion were meant to represent? What is the author trying to say about American culture?What is the role of women in The Great Gatsby? Is love relevant? Are relationships meaningful?What do you think about Daisys assessment that women must be pretty but unintelligent if they want to be happy? What in her life led her to this conclusion?Why is The Great Gatsby controversial? Why has it been banned/challenged?How does religion figure into the novel? How would the novel be different if religion or spirituality played a more prominent role in the text?How does The Great Gatsby relate to current society? How well did it represent the Jazz Age (society and literature) at the time it was published? Is the novel still relevant?Would you recommend The Great Gatsby to a friend?

Purpose of The Daily News Free Essays

What is the purpose of the daily news? Many will answer and say that the news is there to inform the public, but is that really their purpose. Most of the news that is shown on television is shown in less than two to three-minute segments; a person cannot become informed on certain topics in that little amount of time. The three-minute segments of news that are displayed on television only give the viewer a watered down version of information from a biased point of view. We will write a custom essay sample on Purpose of The Daily News or any similar topic only for you Order Now When a person watches the news one can see that many of images shown are negative towards a certain subject. The viewer may not see it but the shocking or exciting images being displayed constantly on the daily news must have some greater purpose than to inform the viewer. The greater purpose is to provoke public interest and excitement; this provocation of public interest an excitement through the use of exciting or shocking images, stories, and language is called news sensationalism. Many people think they are being informed by the news but what they do not realize is that it is not always enlightening, as it should be, but it is instead very captivating. Through the use of sensationalism the news that is displayed on television everyday impacts and influences a person by showing them negative images, using â€Å"buzz† words, providing one-sided information, and by restricting boundaries of information. What types of images are displayed daily on the news? Tune into the news and the first image that are shown are images on something negative like murder, war, violence, and death. News stations display these types of negative images in order to acquire your attention. Negative images on the news grab people’s attention because they rarely happen in a person’s life. People are attracted to negative images of violence and death because they find them fascinating. These negative images are fascinating because many people have not experienced them first hand; there exists less violence and death now than in any other time in human history. Humans are creatures who have evolved over time from a civilization of violence and death to one that has become more sophisticated and educated. Therefore, when images of violence and death are displayed on television they show people a part of the human past that was more violent. This shows that humans have some type wickedness inside them because if they did not humans would not sit in front of their television watching news on people’s death. Now when horrible events occur in this world people can see it on the news, therefore, one can say that human beings have become desensitized to negative images because they are being shown constantly in a continual loop. Consequently, the negative images of violence and death may be showed on the news in order to remind humans of their violent past and to show that these events do occur in real life. In addition, the negative images help people manage with their current situations by showing them that their lives are not so bad and could be much worse. The continual loop of negative images reflects that society likes the negative because it reminds humans of their fascination for violence and helps people cope with their current situations. The news media use â€Å"buzz† words constantly in their news and headlines to capture a viewer’s attention in order to instill fear and make profit. â€Å"Buzz† words, according to the American Heritage Dictionary of the English Language, are type of words or phrases that usually sound important or technical and are used primarily to impress people without knowledge in a particular subject (â€Å"buzzword†). First off when a news station tries to grab the viewers attention they usually use the headline â€Å"We just got breaking news,† this phrase immediately captures a person’s attention because one does not know what to expect. After that phrase is said some type of â€Å"buzz† word usually follows it immediately because people will not know about the subject since it is breaking news. For example, when 9/11 occurred it was breaking news and president Bush followed right after the attack with a small speech. In that speech president Bush used the â€Å"buzz† words terrorism, bombing, and extremism because they sounded technical to the situation. President Bush’s words captured the people’s attention and impressed them so much that they were instilled with fear and eventually lead to the war in Iraq. Moreover, by obtaining people’s attention through the use of â€Å"buzz† words news stations draw more views, which in turn allows them to get higher ratings and make profit. News stations make profit by selling airtime to commercials, so a news station with a lot of viewers will make a great quantity of money. Therefore, â€Å"buzz† words are used more now than ever before because using them allows news stations to instill fear and gather more viewers which amounts to more profit. When people watch the news they tend to trust the information they are getting because many people are lazy to go searching for information on their own, as a result the news seems real and authentic but in reality the news merely provides biased information. The news provides one-sided information because it is in the news stations best interest to do so; being biased allows news stations to attract specific types of viewers. By attracting a specific type of viewer it allows news stations to push a distinct viewpoint. For example, Fox news is a conservative media outlet that attracts conservatives, while MSNBC is liberal media outlet that attracts liberals. They each have their different point of view but they cater to people who have the same view as them. Therefore, when people watch the news on one of these networks they shall only be informed on one side of the argument. This also shows something about the viewers; it shows that the viewers only watch specific news networks in order to reinforce their side of the argument. Every human has their own one-sided view when it comes to specific subjects, so in order to prove that their view is right to individuals they have to reinforce their biased view in some way and that way is through the news (Eveland). For example, when a person thinks of a Muslim they usually think of a person who is a terrorist and from the Middle East. Their belief on what a Muslim person is was reinforced by the news coverage on 9/11. This gave many people biased views on what type of people are terrorists; the news coverage gave Americans the false perception that all Muslim people must be terrorists that hail from the Middle East. Therefore, most of the biased views that come from the news can be attributed to the viewer’s self-centered ideology that they have to be right because the news intention is only to give viewers what they want to hear. In essence, the daily news that is shown is always biased because different media outlets want to attract and give specific viewers what they want.   News stations have created restricted boundaries so that people don’t searching for information outside of them. One must first ask what are those restricted boundaries? These restricted boundaries are the information that is not shown to the public. National governments hold many secrets and if they were to be exposed by the news to the citizens many of them would feel betrayed. If people could not trust their government they would most likely rebel so in order to keep their trust the government works behind the scenes controlling what is shown on the news. Many governments do this by regulating the media through the use of money by either fining the news companies or allowing them to be tax exempt. Therefore the news can be used to keep people under control and manipulate them. For example, the media coverage on the 9/11 terrorist attacks was used to manipulate American citizens to go to war with Iraq even though Iraq had nothing do with it. President Bush’s administration manipulated â€Å"evidence† on the news so that he could get Americans citizens to agree with him to invade Iraq (Hutchinson). Everyone in America at that time was so focused on revenge that no one dared question the information that was provided on the news. At that time it was a restricted boundary to question whether the war in Iraq was just; everyone just assumed it was justifiable after what had happened. It was not until many years later that Americans went outside the restricted boundary to uncover the truth about why they had invaded Iraq. The news was and continues to be manipulated so that people never search for information outside of restricted boundaries because what they might find may not be what they were shown. The news original intention was to inform the public and provide accurate information. It has changed drastically through the use of news sensationalism. Negative images are now shown so constantly in a continual loop that humans have become attracted to them, which in turn, has helped people cope with their current living situations. â€Å"Buzz† words have also gone on the rise because they have enticed more viewers, which have helped news stations instill fear into people and make more profit. Information on the news has now become biased in order to cater to certain types of people because viewers now only want to reinforce that they are right and justified in their opinions. Restricted boundaries have also been created by the news so that viewers do not go searching for information outside of them because many people may find out that they have been manipulated in some way by the news that was presented to them. To sum it up, the daily news that is presented now is not what it used to be; it is now a tool used by media outlets to distort the truth. How to cite Purpose of The Daily News, Papers

Good to Great Why Some Companies Make the Leap and Other Do Not” free essay sample

All 11 of the featured companies had this type of leadership, character multi-year research projects and works with executives from the private, public, and social sectors. Jim has served as a teacher to senior executives and CEOs at corporations that include: Starbucks Coffee, Merck, Patagonia, American General, W. L. Gore, and hundreds more. He has also worked with the non-corporate sector such as the Leadership Network of Churches, Johns Hopkins Medical School, the Boys amp; Girls Clubs of America and The Peter F. Drucker Foundation for Non-Profit Management. Jim invests a significant portion of his energy in large-scale research projects often five or more years in duration to develop fundamental insights and then translate those findings into books, articles and lectures. He uses his management laboratory to work directly with executives and to develop practical tools for applying the concepts that flow from his research. In addition, Jim is an avid rock climber and has made free ascents of the West Face of El Capitan and the East Face of Washington Column in Yosemite Valley. Thesis Collins and his team identified 11 companies that followed a pattern of fifteen-year cumulative stock returns at or below the general stock market, punctuated by a transition point, then cumulative returns at least three times the market over the next fifteen years. Public companies were selected because of the availability of comparable data. Fifteen-year segments were selected to weed out the one-hit wonders and luck breaks. While these selection criteria exclude new economy companies, Collins contends that there is nothing new about the new economy, citing earlier technology innovations of electricity, the telephone, and the transistor. Having identified the companies that made the leap from Good To Great, Collins and his team set out to examine the transition point. What characteristics did the Good To Great companies have that their industry counterparts did not? What didnt the Good To Great companies have? Collins maps out three stages, each with two key concepts. These six concepts are the heart of Good To Great and he devotes a chapter to explaining each of them. †¢ Level 5 Leadership †¢ First Who Then What †¢ Confront the Brutal Facts †¢ The Hedgehog Concept †¢ A Culture of Discipline †¢ Technology Accelerators Collins characterizes the Level 5 leader, as a paradoxical blend of personal humility and professional will. The Level 5 leader is not the corporate savior or turnaround expert. Most of the CEOs of the Good To Great companies as they made the transition were company insiders. They were more concerned about what they could build, create and contribute than what they could get fame, fortune, adulation, power, whatever. No Ken Lay of Enron or Al Dunlap of Scott Paper, the larger-than-life CEO, led a Good To Great company. This kind of executive is concerned more with their own reputation for personal greatness than they are with setting the company up for success in the next generation. In this book, Jim Collins also challenges the notion that people are your most important asset and postulates instead that the right people are. I dont know that I yet completely agree with his philosophy that its more important to get the right people on the bus and then see where it goes than it is to figure out where to go and get the right people on the bus who can get you there. However, he makes his point clearly and you can decide if you agree with him. This nearly 300-page book is packed with leading edge thinking, clear examples, and data to support the conclusions. It is a challenge to all business leaders to exhibit the discipline required to move their companies from Good To Great. Chapter 1: Good is the Enemy of Great Collins and his assembled crew started their research using the companies that rank in the top 500 in total annual sales. Then, by analysing the returns they narrowed down the list to companies that experienced mediocrity for a period of time, but then changed course for the better and outperformed not just other companies in the same industry, but the overall market by several times. Other factors were also considered, until they finally had the list narrowed down to eleven â€Å"superstar† corporations: Abbott, Circuit City, Fannie Mae, Gillette, Kimberly- Clark, Kroger, Nucor, Phillip Morris, Pitney Bowes, Walgreens, and Wells Fargo. He then explored what goes into a company’s transformation from mediocre to excellent. Based on hard evidence and volumes of data, the book author (Jim Collins) and his team uncovered timeless principles on how the good-to-great companies like produced sustained great results and achieved enduring greatness, evolving into companies that were indeed ‘Built to Last’. Good to Great is centres on a comparative analysis of eleven companies. Collins selects once-dull organizations, such as Kimberley Clark and Gillette that subsequently outperformed. The usual fault of such manuals is their obvious prescriptions. Of course successful firms kept close to their customers and motivated employees. But unsuccessful firms didn’t fail because they rejected these objectives. They failed because they couldn’t achieve them. Collins penetrates these banalities because he questions the congratulatory self-description of winning businesses. For example, most of his eleven companies didn’t have visionary CEOs determined to turn the business round Few were aiming at the cover page of Fortune, most were consensus builders from inside the organization. Collins research says the CEOs at the time companies become great arent egotistical business leaders. Rather, they tend to be reserved people who channel their ego into building their companies. Collins is a little vague on exactly how you get other employees and key players to channel their egos into building the company. The hope is that, if you select the right people, theyll do whats best for the company rather than for themselves. Finding something you can be passionate about is the other key. And, all employees must be passionate about the endeavour. Because most employees wont get jazzed about making the CEO and shareholders wealthy, a company should have a purpose beyond just making money. Collins says a company should have core values. Collins says it doesnt matter what these core values are, just that they exist. He says Philip Morris is happy to provide the strongest brand recognition of sinful products. Maybe, theyre rebelling against political correctness, or health, or whatever. If it works for them, its cool. Fannie Mae, on the other hand, prides itself on providing mortgages to new, less-affluent homeowners and helping people buy homes. That sounds good, and is probably true, but it reads a little bit like a publicity statement. Chapter 2: Level 5 Leadership In this chapter Collins describes what he refers to as â€Å"level 5† leadership as explained in the table below. Every good-to-great company had â€Å"Level 5† leadership during pivotal transition years, where Level 1 is a Highly Capable Individual, Level 2 is a Contributing Team Member, Level 3 is the Competent Manager, Level 4 is an Effective Leader, and Level 5 is the Executive who builds enduring greatness through a paradoxical blend of personal humility and professional will. Level 5 leaders display a compelling modesty, are self-effacing and understated. In contrast, two thirds of the comparison companies had leaders with gargantuan personal egos that contributed to the demise or continued mediocrity of the company. Level 5 leaders are fanatically driven, infected with an incurable need to produce sustained results. They are resolved to do whatever it takes to make the company great, no matter how big or hard the decisions. One of the most damaging trends in recent history is the tendency (especially of boards of directors) to select dazzling, celebrity leaders and to de-select potential Level 5 leaders. Potential Level 5 leaders exist all around us; we just have to know what to look for. The research team was not looking for Level 5 leadership, but the data was overwhelming and convincing. The Level 5 discovery is an empirical, not ideological, finding. The 5th Level Leader – 5th Level Leaders have a combination of strong will and personal humility. The 5th Level Leader demonstrates an unwavering resolve and sets the standard for building great companies. In balance, he/she demonstrates a compelling modesty, relies on inspired standards and channels ambition into the company, and not into the self. The 5th Level Leader â€Å"looks in the mirror, not out the window† when focusing on responsibility and does just the opposite when apportioning credit for success of the company. When a leader’s energy is â€Å"in balance† they are driven neither by ego nor fear. They are moving at a speed that allows them to feel themselves, as well as those around them. They realize more than anyone else, that â€Å"the less you control, the more you can do†. Leadership greatness is about being a conduit of energy, not a single generator of it. Collins asked a critical question: Can 5th Level Leadership be taught? Well, yes and no. To the extent someone is gifted with these innate capabilities, they certainly have a head start. For any leader it is a matter of degree. It is about growing into the role of a 5th Level Leadership leader. It is interesting to note that most 5th Level Leaders did not live extravagant lifestyles. They had sound family and community relationships. They had healthy and long-term marriages. Most of them are highly spiritual people who have attributed much of their success to good-luck and God rather than personal greatness. These men and women were servant leaders, not self-serving ones. The five levels are as follows : Level 5 Executive Builds enduring greatness through a paradoxical blend of personal humility and professional will. Level 4 Effective Leader Catalyzes commitment to and vigorous pursuit of a clear and compelling vision, stimulating higher performance standards. Level 3 Competent Manager Organizes people and resources towards the effective and efficient pursuit of predetermined objectives. Level 2 Contributing Team Member Contributes individual capabilities to the achievement of group objectives and worked effectively with others in a group setting. Level 1 Highly Capable Individual Makes productive contributions through talent, knowledge skills, and good work habits. Humility + Will = Level 5 Professional Will and Personal Humility create superb results, a clear catalyst in the transition from good to great. Demonstrates a compelling modesty, shunning public adulation; never boastful. Demonstrates an unwavering resolve to do whatever must be done to produce the best long-term results, no matter how difficult. Acts with quiet, calm determination; relies principally on inspired standards, not inspiring charisma, to motivate. Sets the standard of building an enduring great company; will settle for nothing less. Channels ambition into the company, not the self; sets up successors for even greater success in the next generation. Looks into the mirror, not out the window, to apportion responsibility for poor results, never blaming other people, external factors, or bad luck. Looks out the window, not in the mirror, to apportion credit for the success of the company to other people, external factors, and good luck. All 11 of the featured companies had this type of leadership, characterized by a CEO who displayed determination and a strong will to be the best, yet who also showed humility. These level 5 leaders eliminated wasteful luxuries, like executive dining rooms, corporate jets, lavish vacation spots, etc. , for the good of the company. Also, when asked about the success of the company, they were quick to give complete credit to the other workers in the company, rather than themselves. Yet these CEOs rose above their peers. Collins dubs them Level 5 managers. By this definition, each was humble to a fault and hid from the limelight. At the same time, though, all of them went to extraordinary lengths to make their companies great. For Darwin E. Smith of Kimberly-Clark, that required jettisoning the core business when he sold its paper mills. For George Cain at Abbott, it meant firing his own relatives. These leaders ambition was first and foremost for the company, writes Collins. They were concerned with its success, rather than their own riches and personal renown. Chapter 3: First Who then What It deals with confronting the facts of expertise and market know- how, and then assembling together a first- class team of dedicated workers and management to achieve goals. In these â€Å"good to great† companies, they all shared several things in common. First and foremost, they were not afraid to admit that they lacked the necessary skills to succeed in certain markets. Instead of pretending to know everything, these companies brainstormed until they had a short list of what they knew they could do better than anyone else. They didn’t bother acquiring other companies, where they had no expertise, or trying to learn new skills, or anything like that. Instead, they focused in on what they were best at, then hired individuals who were skilled in the same area and who would be most likely to work relentlessly toward a goal. Collins point is not just about assembling the right team thats nothing new. The main point is to first get the right people on the bus (and the wrong people off the bus) before you figure out where to drive it. The second key point is the degree of sheer rigor needed in people decisions in order to take a company from good to great. . Regarding people decisions he has the following to say: 1. When in doubt, dont hire keep looking. (Corollary: A company should limit its growth based on its ability to attract enough of the right people. ) 2. When you know you need to make a people change, act. (Corollary: First be sure you dont simply have someone in the wrong seat. ) 3. Put your best people on your biggest opportunities, not your biggest problems. (Corollary: If you sell off your problems, dont sell off your best people. ) Good-to-great leaders understand three simple truths: If you begin with the â€Å"who,† rather than the â€Å"what,† you can more easily adapt to a changing world. If you have the right people on the bus, the problem of how to motivate and manage people largely goes away. If you have the wrong people, it doesn’t matter whether you discover the right direction—you still won’t have a great company. Great vision without great people is irrelevant. Chapter 4: Confront the Brutal Facts This chapter deals with the Stockdale Paradox. Another defiance of conventionality is encapsulated in the so-called Stockdale paradox. Admiral Stockdale survived a long period of imprisonment in Vietnam. He had determination to survive, but claimed that it was ‘the optimists’ who failed to see it through. The Stockdale paradox contrasts those who focus with determination on a realistic objective with the fantasists whose slogan is that if you can dream it, you can do it. Retrain faith that you will prevail in the end, regardless of the difficulties and at the same time confront the most brutal facts of your current reality, whatever they might be. It says: 1. Lead with questions, not answers 2. Engage in dialogue and debate, not coercion. 3. Conduct autopsies, without blame. 4. Build red flag mechanisms that turn information into information that cannot be ignored. Next, even before they had settled on a business plan, these CEOs surrounded themselves with smart, hard-working people who were not afraid to face their shortcomings and hurdlesthe brutal facts, as Collins puts itbut who had faith they would ultimately win. After settling on a course, the companies on the list never lost sight of what they did best, and they maintained tough standards for their people. New hires either fit right inor were quickly ejected. Then, through perseverance and the careful use of technology, the enterprises lifted off. The process resembles relentlessly pushing a giant heavy flywheel in one direction, turn upon turn, building momentum until a point of breakthrough, and beyond, Collins concludes. Good-to-Great companies maintain unwavering faith that they can and will prevail in the end, regardless of the difficulties, and at the same time have the discipline to confront the most brutal facts of their current reality – whatever that might be. All good- to-great companies began the process of finding a path to greatness by confronting the brutal facts of their current reality. When a company starts with an honest and diligent effort to determine the truth of its situation, the right decisions often become self-evident. Good decisions are impossible without an honest confrontation of the brutal facts. Why Kroger Beat Aamp;P The Great Atlantic and Pacific Tea Company (also known as Aamp;P) had the perfect business model for the first half of the twentieth century, when two world wars and an economic depression imposed frugality upon Americans: cheap, plentiful groceries sold in utilitarian stores. However, in the more affluent second half of the century, Americans began demanding bigger stores, more choices, fresh baked goods, fresh flowers, banking services and so forth. They wanted superstores that offered almost everything under one roof. To f ace the brutal facts about the mismatch between its past model and the changing world, Aamp;P opened a new store called Golden Key, where it could experiment with new methods and models and learn what customers wanted. It sold no Aamp;P-branded products, experimented with new departments, and began to evolve toward the more modern superstore. Aamp;P began to discover the answer to the questions of why it was losing market share and what it could do about it. But Aamp;P executives didn’t like the answers they got, so they closed the store, rather than diverge from their ages-old business ideas. Meanwhile, the Kroger grocery chain also conducted experiments and, by 1970, discovered the inescapable truth that the old-model grocery store was going to become extinct. Rather than ignore the brutal truth, as Aamp;P did, the company acted on it, eliminating, changing, or replacing every single store that did not fit the new realities. It went block-by-block, city-by-city, state-by- state, until it had rebuilt its entire system. By 1999, it was the number one grocery chain in America. Let the Truth Be Heard One of the primary tasks in taking a company from good to great is to create a culture wherein people have a tremendous opportunity to be heard and, ultimately, for the truth to be likewise heard. To accomplish this, you must engage in four basic practices: Lead with questions, not answers. Leading from good to great does not mean coming up with the answers and motivating everyone to follow your messianic vision. It means having the humility to grasp the fact that you do not yet understand enough to have the answers, and then to ask questions that will lead to the best possible insights. Engage in dialogue and debate, not coercion. All good-to-great companies have a penchant for intense debates, discussions and healthy conflict. Dialogue is not used as a sham process to let people â€Å"have their say† so they can buy into a predetermined decision; rather, it is used to engage people in the search for the best answers. Conduct autopsies, without blame. Good-to-great leaders must take an honest look at decisions his or her company makes, rather than simply assigning blame for the outcomes of those decisions. These â€Å"autopsies† go a long way toward establishing understanding and learning, creating a climate where the truth is heard. Build red flag mechanisms that turn information into information that cannot be ignored. Good-to-great companies have no better access to information than any other company; they simply give their people and customers ample opportunities to provide unfiltered information and insight that can act as an early warning for potentially deeper problems. Chapter 5 : The Hedgehog Concept It talks about the triumph of understanding over bravado requires a deep understanding of three intersecting circles translated into a simple, crystalline concept the hedgehog concept, and it’s the basis for much of the book. This concept involves reflecting on three important questions that all businesses should ask: 1. What are you deeply passionate about? 2. What drives your economic engine? and 3. What you can be best in the world at ? At what you can be best in the world. This standard goes far beyond core competence — just because you possess a core competence doesn’t necessarily mean you are the best in the world at that competence. Conversely, what you can be best in the world at might not even be something in which you are currently engaged. The Hedgehog Concept is not a goal or strategy to be the best at something; it is an understanding of what you can be the best at and, almost equally important, what you cannot be the best at. What drives your economic engine? To get insight into the drivers of your economic engine, search for the one denominator (profit per x, for example, or cash flow per x) that has the single greatest impact. If you could pick one and only one ratio to systematically increase over time to make a greater impact, what would that ratio be? This denominator can be subtle, sometimes even unobvious. The key is to use the denominator to gain understanding and insight into your economic model. What you are deeply passionate about. Good-to-great companies did not pick a course of action, then encourage their people to become passionate about their direction. Rather, those companies decided to do only those things that they could get passionate about. They recognized that passion cannot be manufactured, nor can it be the end result of a motivation effort. You can only discover what ignites your passion and the passions of those around you. These three questions are placed within overlapping circles. The area where the three overlap is the area where a corporation should aim to reach, to ensure the most output and the greatest efficiency. . A hedgehog concept is not a goal to be the best, a strategy to be the best, an intention to be the best, a plan to be the best. It is an understanding of what you can be the best at. If you could pick one and only one ratio profix per x (or in the social sector, cash flow per x) to systematically increase over time, what x would have the greatest and most sustainable impact on your economic engine? The core of the book emphasizes what Collins refers to as a hedgehog strategy that is necessary to achieve greatness. Collins says great companies are like hedgehogs in that they stick to what they know and can do well. Collins says when a fox attacks a hedgehog the hedgehog curls into a prickly ball and the attacking fox must leave it alone. Then, the fox runs around and tries another point of attack and never learns. The hedgehogs only need to do one thing that works well and consistently. In short, after much research and writing, Collins finds the key to business success is functioning within the intersection of three circles. The first circle represents an endeavor at which your company has the potential to be the best in the world. The second circle represents what your company can feel passionate about. The third circle represents a measure of profitability that can drive your economic success. You must choose to do something thats profitable and know how to focus upon that profitability. To find the circles, Collins makes the excellent point that you must begin with the right people. Collins emphasizes that the people must come before you decide exactly how your company will achieve success. We learn that in great companies there is often heated debate about whats best for the company. The culture of great companies is open in the sense that the truth will be heard. Thats very different from debating for the sake of protecting private turf and self-aggrandizement. Chapter 6 : Cultural Discipline This chapter deals with the importance of discipline. It talks about building a culture full of self-disciplined people who take disciplined action, fanatically consistent with the three circles, the hedgehog concept. Freedom and responsibility within a framework build a consistent system with clear constraints, but give people freedom and responsibility within the framework of that system. It advises to hire self-disciplined people who dont need to be managed, and to manage the system, not the people. Discipline means fanatical adherence to the Hedgehog Concept and the willingness to shun opportunities that fall outside the three circles. The findings here might surprise some people. First of all, the management teams of the best companies are not strict disciplinarians. Discipline is stressed, but it comes from hiring employees who are already disciplined and ready to motivate themselves to achieve. Bureaucratic culture arises to compensate for incompetence and lack of discipline, which arise from having the wrong people on the bug in the first place. Having a disciplined culture is the opposite of having a controlled one. There is no need for hierarchy, bureaucracy, or excessive control. Sustained great results depend upon building a culture full of self-disciplined people who take disciplined action fanatically consistent with the three circles of the Hedgehog Concept. This is in contrast to the typical ways in which many companies (particularly start-ups) conduct themselves when responding to growth and success. As these companies grow, they tend to sacrifice the creativity, energy and vision that made them successful in favor of hierarchical, bureaucratic structures and strictures — thus killing the entrepreneurial spirit as they create order. Exciting companies thus transform themselves into ordinary companies, and mediocrity begins to grow in earnest. Indeed, bureaucratic cultures arise to compensate for incompetence and lack of discipline, which arise from having the wrong people on the bus in the first place. Most companies build their bureaucratic rules to man-age a small percentage of the wrong people, which in turn drives away the right people. This self-perpetuating problem can be avoided by creating a culture of discipline. Action Steps To create a culture of discipline, you must: Build a culture around the idea of freedom and responsibility, within a framework. Good-to-great companies built a consistent system with clear constraints, but they also gave people freedom and responsibility within the framework of that system. They hired self-disciplined people who didn’t need to be managed, and then managed the system, not the people. They also had the discipline of thought, to confront the brutal facts of reality and still maintain faith that they were on the track to greatness. Finally, they took disciplined actions that kept them on that track. Fill your culture with self-disciplined people who are willing to go to extreme lengths to fulfill their responsibilities. People in good-to-great companies tend to be almost fanatical in the pursuit of greatness; they possess the discipline to do whatever it takes to become the best within carefully selected arenas, and then seek continual improvement from there. While everyone would like to be the best, most organizations lack the discipline to figure out with ego less clarity what they can be the best at, and the will to do whatever it takes to turn that potential into reality. Don’t confuse a culture of discipline with a tyrannical disciplinarian. Many companies that could not sustain their success had leaders who personally disciplined the organization through sheer force. Good-to-great companies had Level 5 leaders who built an enduring culture of discipline, powered by self-disciplined people who acted in the company’s best interests without strict dictums from leadership. These disciplined companies could and did thrive even after their leaders had departed the organization; those companies that practiced discipline only by tyrannical rule could not sustain themselves once their leaders departed. Adhere with great consistency to the Hedgehog Concept, exercising an almost religious focus on the intersection of the three circles. The good-to-great companies at their best followed a simple mantra — â€Å"Anything that does not fit with our Hedgehog Concept, we will not do. † They did not launch unrelated businesses or joint ventures in an effort to diversify. They did not panic if the competitive landscape shifted. If a course of action did not fit into their disciplined approach, they did not perform that action. It takes discipline to say â€Å"No† to such opportunities. Collins claims magic occurs when you blend a culture of discipline with an ethic of entrepreneurship. Collin’s discussion about discipline is no different than my discussion about responsibility or Marshall Thurber’s discussion about integrity. Collins points out the interesting paradox that political scientists have known all along. In order to have freedom, there must be rules. To the extent that people are willing to voluntarily abide by those rules, there will an increase in the levels of available freedom. This discipline, responsibility or integrity cannot come through control. There must be disciplined people who engage in disciplined thought and then take disciplined action. The most important discipline is staying loyal to the hedgehog concept. Chapter 7 : Technology Accelerators In this chapter Collins tells that technology is not the critical factor that many people think. Technology, when properly applied, is an accelerator of momentum, but it is not the creator of momentum. In other words, having a technological advantage can help a company more quickly achieve its goals, but it is useless by itself. Technology alone cannot make a company great. It has to be linked to and applied within the Hedgehog Concept. For those company studied, the whole issue of technology was not paramount to their success or decline. Rather, it merely acted as an accelerator of the flywheel concept. Their mantra for dealing with technology – â€Å"crawl, walk, run†. Based on the experience of these companies, a cautioned approach towards technology works best, even during times of rapid and radical change. Chapter 8 : The Flywheel and the Doom Loop In this chapter Collins takes the notion of the flywheel concept one step further. He emphasizes that when companies went from good to great there was â€Å"no miracle moment†. No technological breakthrough. No special announcement. Rather, the accumulated effect of dedicated work finally blossoming on an exploding basis. These findings are in alignment with what Napoleon Hill wrote in Think and Grow Rich decades ago. He said, â€Å"The most successful people have a burning desire for a particular purpose†. Success didn’t come overnight, even though it may have appeared that way to outsiders. Dedication and commitment to purpose builds people and companies of great wealth. Similarly, this flywheel can work in reverse, which Collins refers to as the â€Å"doom loop†. The Flywheel and The Doom Loop Good-to-great transformations often look like dramatic, revolutionary events to those observing from the out-side, but they feel like organic, cumulative processes to people on the inside. The confusion of end outcomes (dramatic results) with process (organic and cumulative) skews our perception of what really works over the long haul. Those companies had no name for their transformations; there was no launch event, no tag line, no programmatic feel whatsoever. There was, in other words, no miracle moment in the transformation of each company from good to great. Each went through a quiet, deliberate process of figuring out what needed to be done to create the best future results, then they simply took those steps, one by one over time, until they hit their breakthrough moments. The Flywheel Effect Their successes can be seen in the following illustration: Imagine an enormous, heavy flywheel — a massive disc mounted horizontally on an axle, measuring 30 feet in diameter, two feet in thickness and 5,000 pounds in weight. In order to get the flywheel moving, you must push it. Its progress is slow; your consistent efforts may only move it a few inches at first. Over time, how-ever, it becomes easier to move the flywheel, and it rotates with increasing ease, carried along by its momentum. The breakthrough comes when the wheels own heavy weight does the bulk of the work for you, with an almost unstoppable force. Each of the good-to-great companies experienced the flywheel effect in their transformations. The first efforts in each transformation were almost imperceptible. Yet, over time, with consistent, disciplined actions propelling it forward, each company was able to build on its momentum and make the transformation — a build-up that led to a breakthrough. The momentum they built was then able to sustain their success over time. These companies understood a simple truth: Tremendous power exists in the fact of continued improvement and the delivery of results. Point to tangible accomplishments — however incremental at first — and show how those steps fit into the context of an overall concept that will work. When this is done in such a way that people see and feel the buildup of momentum, they will line up with enthusiasm. This is the real flywheel effect. When a leader lets the flywheel do the talking, he or she does not need to fervently communicate the organizations goals — people can just extrapolate from the momentum of the flywheel for themselves. As people decide among themselves to turn the fact of potential into the fact of results, the goal almost sets itself. People want to be part of a winning team, producing visible, tangible results. The Doom Loop Other companies exhibited very different patterns. Instead of a quiet, deliberate process of figuring out what needed to be done, then doing it, these companies frequently launched new programs — often loudly, with the aim of â€Å"motivating the troops† — only to see those programs fail to produce sustained results. They pushed the flywheel in one direction, stopped, changed course and pushed it in a new direction, a process they repeat-ed continually. After years of lurching back and forth, these companies failed to build sustained momentum and fell into what could be termed the doom loop. Are You on the Flywheel or in the Doom Loop? How can you tell if your organization is on the fly-wheel, or in the doom loop? Consider the following: You’re on the flywheel if you— * Follow a pattern of buildup, leading to break-through. * Confront the brutal facts to see what steps must be taken to build momentum. * Attain consistency with a clear Hedgehog Concept, staying within the three circles. * Follow the pattern of disciplined people, thought and action. * Harness appropriate technologies to your Hedgehog Concept, to accelerate momentum. Spend little energy trying to motivate or align people; the momentum of the flywheel is infectious. * Maintain consistency over time. You’re in the doom loop if you— * Skip buildup and jump right into breakthrough. * Implement big programs, radical change efforts, dramatic revolutions and chronic restructuring. * Embrace fads and engage in management hoopla, rather than confront the brutal facts. * Demonstrate chron ic inconsistency, lurching back and forth and straying outside the three circles. * Jump right into action, without disciplined thought, or first getting the right people on the bus. Spend a lot of energy trying to align and motivate people, rallying them around new visions. * Sell the future to compensate for lack of results in the present. The Flywheel and the Doom Loop are metaphors for demonstrating how great companies start out slowly and methodically yet eventually reach the sustained momentum needed for breakthrough results. In this chapter Collins shows how each of the companies on the good to great list went through a period of buildup before it achieved breakthrough success. Companies that moved too quickly, and tried to skip the buildup phase, often saw their success shrivel and fade away. Those that underwent a steady changeover phase, followed by careful implementation, went on to achieve great things. Sustainable transformations follow a predictable pattern of buildup and breakthrough. Like pushing on a giant, heavy flywheel, it takes a lot of effort to get the thing moving at all, but with persistent pushing in a consistent direction over a long period of time, the flywheel builds momentum, eventually hitting a point of breakthrough. Chapter 9 : From Good to Great to Built to Last In this concluding chapter, Collins attempts to integrate the findings in his two books. What he tells us is that Built To Last is the sequel to Good To Great. It is about great companies that have sustained themselves. The principal of Good To Great, helps build great companies and the principals of Built To Last help sustain them. He reminds us that in order to build sustaining companies we must â€Å"discover our core values and purpose beyond just making money† and combine this with the dynamic of the preserve growth/stimulate progress. In this chapter, Collins raises the most interesting question of all. That is â€Å"why be a great company†? His response: 1) It’s no harder given these ideas than being just a good company. It is just a shift in energy, not an additional expenditure of it. 2) Doing so helps us in our search for meaningful work and 3) To have a meaningful life He also stresses the importance of continuous improvement and how critical it is that a great company has the right people in place. When it comes time for the CEO to step aside, it’s very important that someone with similar vision be properly prepared to take his place. In those companies that fail to achieve greatness, the new CEO is usually someone from the outside who doesn’t really have a good feel for the business that he is about to run. This upsets the system, and more often than not, it leads to a sharp decline in corporate value. There are several appendices at the end of the book, and they help to illustrate the process that was used to determine which companies would make the cut, along with a list of other companies that almost made the cut.

Goals Paper free essay sample

My second long-term goal is an academic goal. My academic goal is to graduate from the University of Central Florida with a bachelor’s degree in Early Childhood Education. This academic goal of mine is very important to me because I want to be a teacher. I have always wanted to become a teacher since I was a young girl but I foolishly did not pursue my dream. I am now at a point in my life where I recognize that tomorrow is not promised. Therefore, I have decided to pursue my dream of becoming a teacher and will not allow myself to steer off that path. My third long-term goal is career orientated. This long-term career goal is to simply become an effective elementary teacher. By becoming an effective elementary teacher, I will be able to make a positive difference in the lives of my students. I know firsthand the importance of an effective teacher because I experienced what one was like. We will write a custom essay sample on Goals Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page That person was my fifth grade teacher and she made such a positive difference in my life at that time. I want to be able to do the same and so that is why becoming an effective elementary teacher is my long-term career goal. Now that I have identified my three long-term goals I will now discuss how I will accomplish these goals. In order for me to achieve my personal long-term goal of becoming a homeowner, I have set a short-term and an intermediate goal. My short-term goal which will help lead me to becoming a homeowner is finding a job, because I am currently unemployed. The only income I have at this time is from my husband’s full-time job. His income alone cannot qualify us for a mortgage loan. Therefore, I intend to consistently look for employment on a weekly basis. Although this short-term goal may seem to be an easy one, it is not. The reason it is not is due to the fact that there are a lot of people currently unemployed whom are looking for work themselves. This has a negative effect on me because it makes my chances of finding a job much harder. However, I am determined to find a job no matter how many applications it may take. I will make sure that I attach a resume and will make follow-up calls to each of the employers that I have submitted an employment application to. I will also keep a positive attitude on my pursuit for employment so that nothing sabotages my short-term goal. With that said, having a job is not the only thing that is necessary for me to achieve my long-term personal goal. I will also need to have some money saved to put down towards the purchase price of a home. Therefore, I have set an intermediate goal to have saved at least two percent of $195,000 dollars within the next two and a half years by putting $130 dollars per month into a savings account. I am confident that I can achieve my personal long-term goal as long as I adhere to the short-term and intermediate goals that I have indicated above. As for my long-term academic goal to achieve a bachelor’s degree in Early Childhood Education, I have set a short-term and an intermediate goal that will assist me in obtaining it. My short-term goal consists of two parts. The first part is to take a minimum of four courses, per semester, that are required for the type of degree I am seeking. The second part is to maintain a grade point average of 3. 0 or higher. In order for me to meet these short-term goals I will make sure that I follow the education catalog which outlines all the courses I need to complete and I will make sure that I consistently keep up with all assignments. I will also keep myself organized and maintain a positive attitude in every course that I take. My intermediate goal is to earn my associates degree at Valencia by the year 2012. I know that I can accomplish this intermediate goal as long as I adhere to my short-term goal stated above. Now this may sound like an easy thing to do but in reality there are always challenges that can arise and put a damper on things. One of the challenges that I face in meeting my short-term goal is procrastination. I tend to procrastinate when it comes to studying and completing assignments that I find to be challenging. This course has already taught me the importance to stop procrastinating and to study. I plan to utilize the information from our course to stop the cycle of procrastination and to study in an effective manner. I also intend to consistently reaffirm my long-term academic goal so that it will motivate me to keep in line with my short-term and intermediate goals. Lastly for my long-term career goal, which is to be an effective elementary teacher, I have set a short-term and an intermediate goal. My short-term goal is to get hired as an elementary teacher shortly after obtaining my bachelor’s degree in Early Childhood Education. In order for that to happen, I will submit employment applications at several elementary schools for a teacher position. I will also make sure that I provide a resume along with my portfolio to all of the schools that I have submitted an employment application to. My intermediate goal that I have set which will assist me in becoming an effective elementary teacher consists of developing professionally on a personal level and on a career level. Once I am employed as an elementary teacher, I plan to attend workshops that will improve my skills as a teacher so that I can apply such skills in the classroom. In time I know that I can be an effective elementary teacher because I have a passion to teach and love being around children. In summary, I have a long-term personal goal to own a home, a long-term academic goal to earn a bachelor’s degree, and a long-term career goal to become an effective elementary teacher. All three of my long-term goals are very important to me and in essence builds and/or relies on the other. In order for me to accomplish my three long-term goals, I have set S-M-A-R-T short-term and intermediate goals for each. I also believe that I will be able to achieve all three long-term goals because of Valencia. One of the reasons why Valencia will assist me in reaching my goals is simply due to the fact that this community college is very affordable. Also, this community college has many wonderful professors that are dedicated in guiding students successfully on their career paths. Valencia Community College also has many resources available to me that will assist me in obtaining my associate’s degree and will prepare me with the skills needed to be a successful student at UCF.

Women Are Less Engaged in Criminal Activity Than Men

Women Are Less Engaged in Criminal Activity Than Men On Crime: Women Take the High Road Historically Women Are Less Engaged in Crimes Who knows why people commit crimes – maybe because they think they can get away with it. Maybe they’re just desperate, hard up for money, or doing it for the sheer thrill of taking the risk. In any case, people commit crimes every day: an ex-con robbing a convenience store, a businessman giving a client a much-needed, doctor-prescribed painkiller. It’s so easy to commit a crime that they go unnoticed and often without consequence. And if you look at human nature, you see how most of the ruthless criminals of ancient history have mostly always been men. Sure there’s been some women, but women are just less engaged in criminal activity than men. It comes down to anatomy and psychology, parental instincts and statistics. Male and Female Brains Let’s look at brain development for more insight into this argument, that women are less engaged in criminal activity than men. It has been documented that female’s brains develop about an average two years earlier than male brains, so that means a male’s brain develops much later than the female’s brain. It is also common knowledge that the male brain is not fully developed until the age of 25, especially the prefrontal cortex of the brain responsible for impulse control and decision-making. Why is this important? Because it shows how men – especially young men – are more likely to make bad life decisions, ones that most certainly lead to, or involve crime, even if only petty crimes. This is certainly an indication of how women are less engaged in criminal activity than men. With this said, women are also more likely to experience, and pursue, their parental instincts when compared to men – especially young men, 18 to 25, the age when too many young men are arrested for committing various crimes – underage drinking, drinking, and driving, drug possession, assault and battery, etc.; though some of the men being convicted are of course innocent, a majority of them were involved in a crime or crimes. Females – well, teenage girls – reach puberty before males (adolescent boys) do, and females mature much faster than men. While young women are looking for life partners, creating a future, a family, and a life, men their age certainly are not. Young men in their late teens, early 20s, are drinking and driving, doing drugs, taking risks – and frequently break the law. They are not thinking of these things – life partners, their future. Some are, of course, but until they are in their mid-20s, the brains of males are not fully developed like females, which illustrates how males may be more likely to engage in criminal activity than females. Speaking Statistics All you have to do to see that women are less engaged in criminal activity than men is look at the numbers of inmates in the American prison system. A graph on prisonpolicy.org shows the American prison population by gender, â€Å"United States Incarceration Rates By Sex, 2010.† The graph shows the number of people incarcerated per 100,000 people of that sex; it shows 126 females to 1,352 males. If more men are serving time in a penitentiary than women, clearly this is an indication of how more men are engaging in criminal activity than women. In conclusion, women do less crime than men. Consider the evidence – it comes down to anatomy, biology, and psychology; then there’s instincts, sexual vs. parental; and top of that, there are the numbers: there are many more men in prison than women; so men are more likely to engage in criminal activity. Or consider this notion – what if women are just better at hiding their criminal activity than men? It’s a very objective question to consider, and it is always important to consider the alternate school of thought, the other side of things. After all, things aren’t so black and white, more of a gray color, when mixed together. Nonetheless, the evidence illustrates that men are more engaged than women, in criminal activity. This is a problem our society must face with objectivity and compassion. Why is this so? It doesn’t have to be this way, however. There is always a better way to reach and teach young males and get them to steer away from drugs, alcohol abuse – crimes, essentially. There is a problem if the men of your community are in jail and not at home or at work providing for their families.

Same Business, Different Countries Research Paper

Same Business, Different Countries - Research Paper Example It has a unique status in the consumer market due to the continuous inventions and introduction of latest technology. For instance, it is acknowledged for inventing light bulbs, audio cassettes, C.T. scan machines etc. (Company Profile, 2013). In comparison to this Hitachi is located in Japan and it typically deals in electronic systems in trains, power tools, elevators, construction machinery, medical equipment etc. The core values of the company include harmony and sincerity within the corporation and with the outside world. Moreover, it aspires to make an immense contribution to the society through facilitating its members with the latest technology. Both companies commonly deal in televisions, refrigerators, multimedia projectors etc. (Hitachi Group Identity, 2013). Comparative Analysis One of the biggest challenges faced by both the organizations is that of technology. In the contemporary world, technology has taken precedence over every other business issue due to the fact that today companies dealing in electronic products need to bring an innovation far before their competitors. In addition to this once the new technology is introduced by either Hitachi or Philips, it becomes easier for other competitors to produce its replica (Dubbink, 2011). Although both the organizations are located at entirely different places since the world has now become a global village, companies operating even at different places but with similar products face same problems. This is primarily due to immense competition and same consumer market. For instance, home appliances of Hitachi and Philips are available in western and eastern countries with the same frequency. Therefore when one of them introduces a new technology the competitor has to come up with more advanced products so as to maintain its market share and profits. Otherwise, the competing organization would lose its consumers which can also destroy the overall prestige of the company (Dubbink, 2011). Excelling in t he current business environment needs extra managerial skills and abilities. Although Hitachi and Philips are operating in the same industry on the international level both of them have distinctiveness on the country level and therefore their decision-making style and management strategies vary from one another. Following are most common differences between them: Social: As discussed above Hitachi gives huge importance to the social welfare and overall progress of the society. In Japan, they work while considering the future issues of the society and its variable needs hence when it comes to decision making Hitachi considers the benefits of its society, employees and other related members of the organization (Hitachi Group Identity, 2013). In contrast to this Philips has a major focus over the improvement of lives all over the world which means that their business strategies do not only cover the homeland rather they plan for the welfare of people across the borders (Company Profile , 2013). Political: Political conditions in Japan and Netherlands are better than the eastern parts of the world. However, the political turmoil in countries with consumers actually influences the overall strength and managerial decisions of Hitachi and Philips (Ferdinand & Grapperhaus, 2009). Ethical: Business ethics play a vital role in the overall success of any organization.  Ã‚  

Is there such a thing as a normal sexual orientation Essay

Is there such a thing as a normal sexual orientation - Essay Example Persons attracted toward those of the opposite sex are termed as heterosexuals. Persons attracted toward both genders at the same time are called bisexuals. Person not attracted to any kind of sexual activity with neither gender is going through abstinence or asexuality. This homosexuality, homosexuality, bisexuality, and abstinence, is what we call sexual orientation of a person. It involves both the feelings plus the identity of the person. An individual may recognize his identity as being a homosexual, heterosexual, or bisexual, at any point of his life and this identity would be different from the gender identity or gender roles that the society assigns to an individual. This paper intends to discuss if there is such a thing in the world as normal sexual orientation. Normal Sexual Orientations Researchers suggest that being a heterosexual is normal as is being a non-heterosexual. Gays and lesbians have been identified in all ages and they live just the normal way as others. They belong to all cultures, all socio-economic statuses, and all religions. A homosexual can also feel erotically aroused by a member of the opposite sex at some times in life although he may identify himself as a gay. A heterosexual, likewise, can feel attracted toward a person of the same sex although not too often and although he claims himself to be a heterosexual. Thus, a variation in normality is seen in the behavior of individuals, and this variation cannot make the behavior abnormal. Huegel states that â€Å"Being gay is normal. Being lesbian is normal. Being bisexual is normal. Being transgender is normal. Being heterosexual is normal.† Homosexuality is a Normal Sexual Orientation Gay marriages and gay rights are issues that have been an effort toward making people consider non-heterosexual orientations as normal. The earliest known gay rights organization is the Society for Human Rights in Chicago that was established in 1924 and launched first gay rights movement. Afte r that, the Mattachine Society was established in 1951 and there have been a number of other organizations and movements till then which support gay rights. The Defense of Marriage Act (DOMA) passed by Congress in 1996 protects the marriage rights of gays since there were many states which had banned gay marriages before 1996. Congress approved the law in 2010 and legalized gay marriages. When talking about gay rights, we must discuss what actually the rights that have been legalized for gays are. These include ceremonial marriages, child adoption, domestic partnership registration on public record, domestic partnership affidavit given by employers to gay employees that defines the couple’s economic relationship, health care, insurance, lawsuits, property, and the like. Hence, we see that courts and laws have been trying to make people believe that heterosexuality is normal. Abnormal Sexual Orientations However, there are some bizarre sexual orientations that are regarded as abnormal. Paraphilia Paraphilia is a sexual orientation in which a person is sexually attracted toward a non-human object, animal, or a person with whom sexual activity is not socially acceptable. The paraphilic sexual orientation is considered abnormal by all mental health organization like the American Psychiatric Association. According to the Traditional Values Coalition: The paraphilias listed in the DSM are abnormal sexual orientations toward non-human objects or individuals and include the

The Rise Of A Mercantilist Economic System History Essay

The Rise Of A Mercantilist Economic System History Essay The rise of a mercantilist economic system in Europe forged a unified relationship between government and its people by superseding feudalism and developing a merchant class that bridged the gap between the peasant and ruling classes. Britain, France and Spain, in particular, reaped the rewards of mercantilism by forming a powerful array of nation states. Although mercantilism stands in stark contrast with the principles of a free-market economy, it was nonetheless the driving force behind European imperialism from the 15th through the 18th centuries. The emergence of a merchant class developed a link between power and wealth. Mercantilism in Europe helped to centralize power, replacing the feudal arrangement of yesteryear. As critics like Adam Smith would point out, mercantilism was not without its drawbacks. The only two countries that corralled enough wealth to be considered hegemonic, the United States and Britain, did so in the nineteenth century, well after the fall of mercanti lism. Smith opined that economies should be self-regulating, and that mercantilism, through its rigid governmental constraints, prevented economies from truly flourishing. Despite an abundance of critics, the mercantilist economic system undoubtedly had a tremendous impact on Europe and the rest of the globe. Mercantilism was the foundation from which capitalism was born. European mercantilism first emerged in the latter part of the Renaissance in about 1595 and didnt fade away until the late 1800s. Queen Elizabeth I, desperate to quell the powerful Spanish Empire, ordered her Admiralty to reform foreign trade. Her reforms proved highly effective as England would go on to become the most powerful imperial empire in world history. England exploited the mercantilist economic system of importing precious metals and raw materials in exchange for manufactured goods. The French would later mimic Englands economic system. Mercantilist countries used the rule of law to attain a positive balance of trade through their colonies. Stiff tariffs were imposed on imports and colonies were restrained in their ability to manufacture goods. Instead they were forced to purchase products from their mother countries. For example, gold and silver were extracted from the colonies and shipped to European merchants, greatly enriching Europe. The power of the state depended on the amount of gold and silver in its coffers, because this international currency made it possible to build ships and pay for armies. (A Concise History of Economic Thought,Vaggi Groenwerth, 2003). Beginning in the 16th century, control over land, and trade routes became the most important part of collecting wealth for the most powerful countries. The growth of the mercantile system of Europe was largely spurred by the general discontent people had with the Roman Catholic Church. Mercantilism was, to a large extent, spawned by the Reformation. The lifestyle regulations imposed on Catholics allowed for very little self-actualization; a source of great embitterment for the masses who were fed up with the feudal system. Mercantilism brought upon the rise of the merchant class, a transfer of wealth that brought with it a sense of hope for much of Europe. The spread of alternatives to hard-line Catholicism like the Anglican Church coincided with the growth of mercantilism. In the 1600s England began to notice the Spanish becoming a rising power, due in large part to their influence in colonial America. England knew that whoever maintained the strongest blend of colonial influence and military strength would control the all- important trade routes and foreign territories. England, in an effort to squelch rising countries, began to strengthen their control over colonies, demanding that all trade go through them. The growing sense of competition between world-powers fueled the spread of mercantilism. The major players in this face-off were England, France, Holland and Spain. England reigned supreme as the victorious imperial power thanks to dominant military wins over Portugal and Spain in the sixteenth century, then Holland in the seventeenth and France in the eighteenth century. One of the major objectives of mercantilist countries was to create a bond between the powerful aristocracies and the rising merchant classes. The purpose of this alliance was to damage the economies of competing nations. Mercantilist theory suggested that government should enact a wealth-collecting agenda by protecting against foreign imports. Prior to the rise of mercantilism, the military was only formed during specific times of conflict. During the era of mercantilism, however, armies and navies became full-time enterprises as conflict had become a way of life. Gold and silver were the means by which goods and services could be obtained, and funding a strong military was an essential part of the equation. The merchants were willing to finance their governments in exchange for protection against foreign competition. Large central government and mercantilism go hand-in hand: the merchants needed the government and vice-versa. Mercantilist theorists believe that the net total of global wealth was already established, and that countries vied for a greater stake in the pie by exchanging manufactured goods for precious metals. The concept of, buy low, sell high was paramount towards collecting national wealth. The acquisition of non-coined gold and silver, or bullion, was considered the benchmark for economic growth. The growing wealth of European countries, namely England, France and Spain, had a trickle-down effect on their economies. Merchants would become wealthier through mercantilism, and, to a lesser extent, the lives of the labor forces improved thanks to better job security. The transfer of bullion funneled from the colonies of the Americas proved to be a major boon for European mercantilism. Mercantilist writers believed all trade to be a zero sum game, for every transaction there is a winner and a loser, mercantilists sought to handicap the game in order to promote economic success nation-wide. Mercantilism was a Machiavellian, Puritanically dark world view that promoted a general feeling of intense nationalism and ill-will toward competing countries and the colonies they governed. Governments would go as far as to damage entire monetary systems and limit civilian wages in order to reduce imports, and hurt other countries economies. When mercantilist countries did import goods, it was preferred that they deal in raw materials that could be processed and sent abroad in order to acquire more capital. Importing low cost, raw materials to be completed and converted into higher cost, manufactured goods and bartered for precious metals was a lucrative proces s for merchants. Extractive industries, like agriculture, gave way to manufacturing or processing material businesses. Precious metals had the strongest purchasing power for commanding goods and services. During the sixteenth century, the flows of precious metals from the American Colonies of Spain produced high inflation in Europe, but for the mercantilists gold and silver were the substance and the definition of both private and national wealth.(Vaggi Groenwegen, A Concise History of Economic Thought, 2003) As competition in the New World intensified, England began to tighten the screws on her colonies. Mercantilists were acutely aware of the linkage between politics and economics; they believed that power and wealth were closely related, and that both were legitimate goals of national policy. (Theodore Cohn, Global Political Economy, 2005) Although many countries became rich because of the wealth transferred from the New World, not every country capitalized as much as it could h ave. Between 1647 and 1715, the French attempted to mimic the British, but thanks to extreme inefficiency, they fell short. Jean Babtiste Colbert was one of the most well- known proponents of mercantilism. Colbert served as finance minister of France, under King Louis XIV in the seventeenth century. The French used the British mercantilist economic system of as a model for their political economy. Colbert inherited a perilous French economy on the brink of bankruptcy and enabled King Louis to embark on a series of aggressive military campaigns. The term colbertisme was coined by Colbert to describe the method of protecting infant industries. During his 18 years as minister of finance, Colbert issued a total of 150 edicts designed to regulate the guild industry. Colberts successful use of mercantilism was essential in financing the reign of Louis XIV. The Sun Kings reign featured a powerful military force, but the French economy, particularly its agriculture, was over-taxed and stagnant. Thomas Mun was one of the leading mercantilist authors during this time. His most influential works were a pair of pamphlets A Discourse of Trade and, later, Englands Treasure by Foreign Trade. Mun was the director of the East India Company, a monopolistic British charter founded in 1600 that supplied a wide array of goods, ranging from cotton to opium. According to Mun, monetary movements and the exchange rate depend on the condition of the trade balance: the inflows of precious metals reflect the existence of a positive balance of trade and vice versa. (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) Government-imposed monopolies were inherently corrupted; the use of black market dealings were an inevitable byproduct of price ceilings and quotas. As noted above, colonial powers competed vehemently for control over the North American territories they ruled over. Englands greed would cause tensions to boil over, eventually spurring the American Revolution. The initial Navigation Act of 1651, a bill enacted by the Oliver Cromwell-led Parliament, was designed to gain control over foreign exchanges between the English colonies and other countries. Under the bill, all trade flowing in and out of England or her colonies had to be shipped using British ships. The Dutch, who had been thriving thanks to their free-trade market, were crushed and sent to economic ruin thanks to Cromwells protectionist policies. Not only did the Navigations Acts seize control of transnational commerce, it also disabled competing countries from profiting from freight and shipping services. The mercantilists discovered that it was the whole current account balance that mattered, not just the exchange of commodities. (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) British colonial mercantilism was oppressive by nature; American colonies were banned from the global economy and were treated as little more than pawns. The prosperity of mercantilist economies was contingent on the aid of a strong centralized government that regulated foreign and domestic trade. Mercantilist economies became immensely wealthy by coercing a positive trade surplus. It was thought that a country could be strengthened by regulating commercialism by discouraging imports, and maintaining a positive flow of exports. Governments began placing tariffs, quotas and even prohibitions on imports in order to protect domestic business. New businesses would be encouraged with generous tax breaks. As for the trade part of the balance of payments, the government must favour the sale of raw materials abroad because they will be purchased with precious metals, hence adding to the stock of national wealth (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) Improved tools and technologically advanced products were not allowed to be exported to foreign markets in order to maintain superiority over competing states. The same was true of talented workers, who were prohibited from emigrating to other countries, just as foreign diplomats hypocritically recruited other businessmen to come to their home countries. One of the sharpest critics of European mercantilism was economist Charles Davenant, who believed England would become more prosperous if government discontinued their policy of intervening in foreign trade. In 1690, Davenant published An Essay on the East-India Trade, which outlined his belied that a liberal foreign trade policy would increase Englands exports thanks to a larger market. According to Davenant, this increase in the stock of money leads to lower interest rates and to higher prices of land. The increase in the value of landed estates brings about a rise of rent and of tax revenue. As a result of a freer trade every section of the population is better off, but the starting point of the whole story is still the successful export trade of England. (Vaggi Groenwegen, A Concise History of Economic Thought, 2003) Davenants theories, revolutionary for the time, caused vast condemnation in Europe, who believed the risks of an expanded market outweighed the rewards. Ultimately, no alternate system capable of challenging the nationalistic balance of trade theories of mercantilism emerged, and mercantilism continued. Mercantilism began to fade in the 18th century, ending not with a bang, but with a whimper. Adam Smith, a Scottish Oxford graduate, was a revolutionary economist in the mid to late 1700s who was responsible for coining the term mercantilism. One of Smiths major points of contention with mercantilism, as was outlined in The Theory of Moral Sentiments, was his distaste for heavy-handed governmental control of the economy. Smith, who despised mercantilism invented the metaphor, invisible hand which stood for a natural, self-regulation that functioned because of the essential tenets of a free-market economy: self-interest, competition, economic characteristics he believed were possible without governmental intervention. In 1776, Smith wrote in Wealth of Nations: It is not from the benevolence of the butcher, the brewer or the baker, that we expect our dinner, but from their regard to their own self interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages. His writings were the basis of laissez-faire capitalism, in which industry is free from the shackles of government. Smith believed in the natural order of the economy, whereby, rather than have the government fix prices and regulate trade, the economy should be a self-sufficient machine that dictates the price of commodities. When the price of any commodity is neither more nor less than what is sufficient to pay the rent of the land, the wages of the labour, and the profits of the stock employed in raising, preparing, and bringing it to market, according to their natural rate, the commodity is then sold for what may be called its natural price. (Adam Smith, Wealth of Nations, 1776) The brilliance of Smith was not in his ability to produce revolutionary economic theories of his own; his greatness was embodied in his ability to assemble existing concepts into a system. The fundamental problem with mercantilism is its refusal to account for the value of all economic activity. Maintaining a positive balance of trade is not the only indicator of economic health. To the contrary, as has been proven in the United States meteoric growth despite a negative balance of trade since the 1970s, a positive balance of trade means very little, and often leads to inflation. Mercantilism, though largely debased today, played an essential role in the rise of the middle class. Without the spread of mercantilism in Europe, its impossible to project how the world might look today. Its possible that, without mercantilism, we would still be living in a feudal, caste-like system comprised of only governmental elitists and a the peasant class, with very little in between. Mercantilism gave rise to the middle class, the largest group in the West. Open Side Bet Tracking Kevin Fox- NFL: Week 13 Game ($20, W),Vikings+3.5 over Sains W $15 Colts-7 over Ravens ($10, W) Paid? NBA: Blazers+4.5 over Magic ($10, W) Paid? MISC: James+Stephen 3-Point Shootout, over Elliot+Kevin ($5, W) Paid? Total: (+ $60) Paid? Joey Leoni- NFL: Men of Menlo Fantasy Football Money ($100, W) Paid? Total: (+100) Paid? Dominic Diricco NFL: Men of Menlo Fantasy Football Money ($50, W) Paid? Total: (+$50) Paid? Kevin Meehan- NFL: The Sunday Special Fantasy Football Money ($100, L) Total: (-100) Paid? Isaac Baron- MISC: (In Progress) Most Makes of 53s, Isaac must Win at least 8/10, I=3Wins, J=1 Win ($100, T) Total: ($100 Pending) Paid? SID: 112 15 810