How Government Policies Essay - 1100 Words

How Government Policies Essay (Article Sample) Content: AuthorTutorCourseDateEconomicsIntroductionWhile many believe that interest deduction is one of the largest benefits of owning a house, most taxpayers do not enjoy this one of the main reason being income differentials. This paper seeks to discuss the benefits accruing from the interest rate deductions and its effects on the demand for housing market and rented apartment market.The Opportunity cost of interest rate deductions and its effects on demand for housing, apartments, national productivity and income distribution.Home Interest rate deduction is mostly considered as tax expenditure. This can be attributed to the fact that it gives benefit to a group of taxpayers. In most governments, it is one of the largest tax expenditures. Interest rate reduction for home owners typically would not benefit the middle and low income earners. The only people who receive these tax reductions are taxpayers of higher income bracket. The deduction of this interest is intended to en courage home ownership across the board due to the low installments to be paid. This would result in the expansion of home ownership creating a more self reliant society due to elimination of renters. Though this, the government allows homeowners to reduce their taxable income by the loansà ¢Ã¢â€š ¬ interest amount. Intrinsically, this interest deduction like any other would allow individuals to subtract costs of particular consumption items from their taxable income. This therefore implicitly provides subsidy.Housing survey done recently indicates 10.7 million house owners go through house cost burden. 90% of these home owners earn below $50,000 yet government policies explain that individuals with income of over $50,000 receive tax deductions. This means that only 3% of the 10.7 million receive tax deductions. The survey also indicated that 77% of the tax deduction benefit went to homeowners of income above $100,000 meaning that they do not face severe house cost burdens. The mai n idea of this incentive is to encourage tax payers to take up more mortgages in the process creating a demand for housing. In general, the home interest deduction considerably reduces tax amount due from the household sector. This therefore means that government revenue reduces over time. Taxpayers and the economy at large would get more benefits from the removal of home interest reduction and the introduction of low marginal tax rates to try offset the change.For a balanced economy, governments need to examine and weigh the level of benefits it gets from spending in something. The continuity of this home interest deduction is deemed unfair to the economy. It continually draws money from it and producing a small amount this not being economical. Economists prefer that government should do away with this and use the additional money in providing public goods and services. Since this only targets one side of the economy and that are the high income earners the use of the money in pro viding public goods like building schools and hospitals will improve the GDP in the longrun. Government also can do a lot with this tax money improving its revenue in the short-run also. With the abolishment of the home interest deduction, the demand for home ownership would go down. This is as a result of the anticipated high installments amount of mortgages. This will greatly discourage home ownership encouraging renting. This therefore results in a higher demand for apartments. National productivity will also improve because most the money that would have not been recovered in home interest deductions will be recovered because of investing in other profitable things. Home interest deduction alters income distribution. This is because it favours only those individuals with high income and high marginal tax rates. This therefore implies that only the wealthy in the society will benefit leaving the middle and lower income earners out.How government policies can lead to market distor tion and misallocate resources.The main aims of these policies usually are to encourage the particular activities that create future taxable income. If the main aim of the home interest deduction is to encourage home ownership, then this has not been achieved fully. First it seems to favour those taxpayers of high income and most of all is the reduced government revenue. This can affect the government greatly since it would not be able to maintain its spending on public goods and services at a given level. Rather, this level of spending would reduce aver time as a result of the increase in individuals applying for mortgages. This can potentially misallocate resources crippling government activities across the nation.The continuous provision of fund to an area that does not give returns to the government and also seems to potentially reduce national productivity is risky. Having the effect of reducing prices of homes, this allows taxpayers to own houses of their own making the rentin g business a less attractive business. However, since home interest tax deductions are given to few individuals, most of the middle and low income earners are therefore left to rent. This also ensures the continuous existence of the renting business and ...

The Battle Of Chancellorsville Campaign - 1640 Words

During the American Civil War, the United States was plagued with conflict, struggle, and copious amounts of spilled blood. Furthermore, countless battles were fought to decide the fate of slavery and the Union as a whole. However, one of these battles in particular, the Chancellorsville Campaign, should definitely be one of interest. Taking place after the â€Å"horror of Fredericksburg,† an event in which the Union Army of the Potomac failed to take the city of Fredericksburg, Virginia in 1862 (Bowery and Doss 27), the Chancellorsville campaign lasted from May 1 to May 5, 1863. It was an attempt by the Union to destroy the Confederate Army of Northern Virginia that resulted in disaster for both sides. (â€Å"Battle of Chancellorsville,† Brittanica) As a matter of fact, the Chancellorsville Campaign was such a significant development in the course of the Civil War that many happenings in this battle have affected both the rest of this era and the years beyond. To begin with, there were three men who played major roles in this battle, with the first being Robert Edward Lee, a Confederate general. Born on January 19, 1807, Lee was the commander of the Army of Northern Virginia, the most capable army in the South. (â€Å"Robert E. Lee,† Brittanica) By Lee’s side was another Confederate general known as Thomas â€Å"Stonewall† Jackson. Indeed, Jackson was among the Civil War’s most skilled tacticians, earning the moniker â€Å"Stonewall† after his success at the First Battle of Bull Run in 1861.Show MoreRelatedThe Battle Of The Union Line1631 Words   |  7 Pagesresembled a giant horseshoe around Chancellorsville. At approximately 5:30 a.m., Lee attacked the Union line from all three sides: Stuart, who had taken over for Jackson from the west, Anderson from the southeast, and McLaws from the east. Using their newly acquired ground at Hazel Grove as an artillery platform to support the assault, the Confederates b eat back the Union’s fierce resistance around Chancellorsville. At around 10 a.m. after the heaviest fighting of the battle, Hooker ordered his army toRead MoreAggression : The Export Of Violence927 Words   |  4 PagesWar. Lincoln optimized this in his closing line of the Gettysburg Address, â€Å"that government of the people, by the people, for the people, shall not perish from the earth.† Several battles for both sides added to the attrition efforts and almost achieved a decisive victory but fell short. America felt the effects of battles on the home front and the political twisting that came with a war threatening our own land and well-being at home in a manner that wouldn’t be felt again for another 136 years. EvenRead MoreThe Battle Of The American Civil War1463 Words   |  6 Pagesvery tense time for American History. The Southern States were in a full scale rebellion from the Union now calling themselves The Confederate States of America. The previ ously unified nation was split into two opposing sides going head to head in a battle to the death, with no end in sight. Starting his career in the US military, Jackson continued on to become one of the most famous generals in the American Civil War. Many historians consider him not only a strong leader, but also one of the greatestRead MoreStonewall Jackson1557 Words   |  7 Pagesof our Founding Fathers and Christianity by attempting to create a new society that lacks order as well as cohesiveness† (Robertson xii). Jackson first made a name for himself as a Brigadier General in the battle First Bull Run in 1861. Also known as the Battle of Manassas, this was a battle in which the Confederates were blocking all routes, including railroads to Richmond. General Bernard Bee called out to his men to inspire them; â€Å"Look men! There is Jackson standing like a stone wall! Let usRead MoreThe Battle Of Gettysburg : War Of The Modern Age1948 Words   |  8 PagesThe University of West Alabama The Battle of Gettysburg War of the Modern Age HY 505-01 Leslie Jones Dr. Gentsch April 25, 2016 The Battle of Gettysburg I. Introduction II. Background Issues that made the South and North different General Lee General Meade III. Body The Battle of Gettysburg The Battle of Somme IV. Conclusion The American Civil War began on April 12 1861. There are several reason that the Civil war began. The first reason was the major difference in the economicRead MoreSignificance Of The Battle Of Chancellorsville2029 Words   |  9 PagesSignificance of the Battle of Chancellorsville There have been few battles throughout history that have held an esteemed position of being unprecedented. Stephen Crane’s, The Red Badge of Courage, was able to capture the significance of the battle that occurred at Chancellorsville without specifically naming the battle. Crane’s description of the events of this battle led the readers to realize that The Red Badge of Courage took place at Chancellorsville. The Battle of Chancellorsville during the AmericanRead MoreThe Legacy Of The American Civil War1110 Words   |  5 Pagesdefeat at Bull Run, Major General George McClellan was given command of the new Union Army of the Potomac. In early 1862, he shifted south to attack Richmond through the Peninsula. Moving slowly, he was forced to retreat after the Seven Days Battles. This campaign saw the rise of Confederate General Robert E. Lee. After beating a Union army at Manassas, Lee began to move north into Maryland. McClellan was sent to intercept and won a victory at Antietam on the 17th. Unhappy with McClellan s slow pursuitRead MoreAmerican History : The Battle Of Gettysburg1213 Words   |  5 PagesAmerican History The Battle of Gettysburg The American Civil War is, to date, the bloodiest and the most real war in the eyes of American citizens, with every battle raging in American back yards and farm fields. This great war of ours holds battles such as Shiloh, Antietam, and Stones River all known for being exceptionally violent and casualty heavy. However, none of these can compare when it comes to the amount lives lost or importance to the outcome of the war itself as the Battle of Gettysburg; theRead MoreThe Life of Robert E Lee701 Words   |  3 Pageshe launched a campaign into Maryland wanting to get the attention of the war away from Virginia. Unfortunately for him, the plans of the attack were leaked and union general George McClellan faced Lee at the Battle of Antietam. Even though Lee no longer had surprise on his side, he managed to end the battle in a stalemate on September 17, 1862. Lee suffered heavy casualties, forcing him to withdraw. Throughout 1862, Lee fought to keep the North back even winning at Cha ncellorsville. Read More robert e. lee Essay1101 Words   |  5 PagesCorp engineers. His devotion and hard work in supervising harbor improvements in Saint Louis got him promoted to Captain in 1838. As a captain, his first experience in actual battle was in the Mexican War. He served under General Winfield Scott, and was the best engineer in General Scotts campaign. Lees actions at the battles of Cerro Gordo, Churubusco, and Chapultepec received many high praises and earned him a reputation. General Scott claimed that the success of the war was due to Lees bravery

Autism Spectrum Disorder ( Asd ) - 1774 Words

Autism Spectrum Disorder (ASD) is a neurodevelopmental disorder which is known to include repetitive behaviors, specific patterns of behavior, and difficulty with social communication and interaction (ninds.nih.gov). Since this disorder is on a spectrum, it doesn’t affect every child the same. This spectrum includes different symptoms, skills, and different levels of impairment in the child’s life. ASD is four times more common among boys than girls (Kumar et.al., 2012). The â€Å"Center for Disease Control and Prevention estimates that 1 in 68 children will develop ASD†. The symptoms for this disorder start to become apparent in infancy and early childhood. Certain developmental milestones are not reached in infants and children who suffer†¦show more content†¦These interventions are designed to help improve specific symptoms that the child may be suffering from. Since not all children suffer from ASD to the same degree, each treatment plan is different and is created in order to meet the specific needs of each child. Even though much is known on the development of autism, there is still no specific treatments that can cure the symptoms of autism (DRUG THERAPY). More research must be conducted in order to find better ways to prevent or treat autism. There is a wide variety of symptoms that children with autism tend to display. Social development is greatly different than the typical child. Early in life most infants love being social and affectionate. They find ways to interact and get attention from their environment by smiling, making eye contact, turning their head towards voices, and grasping at fingers (autismhelp.org). Most infants usually seek their parents for comfort, but in some autistic children, they lack the emotional attachment that is present in most children. Typical social interactions are an extremely difficult task (ninds.nih.gov). Most require the need to learn how to manage social interactions in order to function properly in a societal setting. Autistic children also lack a â€Å"theory of mind† which is described as being able to see something from the perspective of another person (autism-help.org). By age

Stakeholder Analysis and Engagement †Free Samples to Students

Question: Discuss about the Stakeholder Analysis and Engagement. Answer: Introduction: The headspace organization is involved in providing treatments in mental health to the youth of the age group 12 to 25. Various mental problems are evident in these groups among which the depression and anxiety is the most common in this age group. The most involved citizens in such demographics are the indigenous people where the suicidal rate is increasing in a very fast manner. This is a major portion, which needs addressing to help the intended demographics. The making or development of a process includes careful planning, analysis of the data gathered and design of infrastructure. The process of system analysis and design is used to make the intended project. However, the main outcome of the system analysis is the requirement of the set objective. The following report mainly discusses about the electronic health record implementation to be included in the project. The report also includes the stakeholder maps, questionnaire and use case diagram to help address the risks. The intended age group of the organization is supposed to be addressed by the presence of a new project approved by the National Youth Mental Health Foundation (Rickwood et al., 2014). The organization for mental health is thus aiming the need of the project to meet the health related needs and to provide the specifications needs to address the problems faced by the given demographics. The care will be intended for addressing the concerns of recovery and social inclusion. Stakeholder map: The analysis of stakeholders is used to address the conflict resolution, project management and administration of the business involved. The impact of an undertaken decision on the associated parties is known by applying the process of stakeholder analysis. The stakeholder analysis also helps to assess the various requirements of the interested parties in the project regarding their decisions and the impact it can create when associated in a policy, program or project (Missonier Loufrani-Fedida, 2014). The analysis of the stakeholders are not used to analyze the needs and concerns of one specific stakeholder but works to ensure the requirements of all the associated stakeholders in the policy or program involved. The stakeholder mapping process involves various technical discussions and debates to determine the list of stakeholders that will be useful to the project to be implemented among the list of all the stakeholders present (Shirey, 2012). The various process of stakeholder mapping includes identification, analysis, mapping and prioritizing the stakeholders (Schiller et al., 2013). Identification: This section of the mapping is concerned with the list of stakeholders that are required for the organization. The list of stakeholders is the internal and the external ones. The external stakeholders are the executives and operational aspects. The suppliers of materials required and the patients fall under the category of executive external stakeholders. The groups with special interests are the one that is associated with the internal operation stakeholders. For the aspect of the internal stakeholders, the researchers, communicators and the nurses are the operational stakeholders while the directors and board members of the organization are the executive aspect of the internal stakeholders. Analysis of the stakeholders: The operations of the various involved stakeholders are referenced in this section. The external stakeholders are to see the operations of the project for man external sense of view while the internal stakeholders are concerned with the project form the internal point of view. The external stakeholders are not directly involved with the organization like the internal stakeholders. The external stakeholders analyze the project in an executive point of view and the operational stakeholders look at the project at an operational point of view. The suppliers and the patient are required for effective operation of the organization while the special interest groups help to address the concerns of the organization involved. The researchers, communicators and the nurses are used to help the operational requirements while the decisions taken and the analyzed impacts of them are undertaken by the board members and directors. Stakeholder Contribution Legitimacy Influence Willingness to engage Involvement External executive Medium Low Medium High Medium External operation Low Low Low Low Low Internal executive High High High High High Internal operation Medium High High Low Medium Mapping: This section of the stakeholder analysis is used to show the representation of the groups associated with the operation and execution of the project. Priority of the stakeholders: This section is used to cover the priorities of the stakeholders in terms of the intended needs in the project to be discussed in the organization. The external stakeholders in operation are the most prioritized stakeholders as any healthcare organization cannot stay in business without the presence of patients. The internal operations stakeholders are the next in priority as the nurses and the researches are required to meet the needs of the patients currently involved. The internal stakeholder in executive level is the next prioritized stakeholder as the decisions to undertake are taken by them which gives a direct impact to the involved organization. The external executive stakeholders are needed by the organization but their decisions are to be addressed by the organization. Stakeholders Priority External-operation Very high Internal-operation High Internal-executive Medium External-executive Low Questionnaire: The process of questionnaire methods is used to provide a research-based response by pointing out various questions to evaluate based on the answers required (Patten, 2016). They are advantageous based on economic provisions, as the questionnaire methods do not include any type of survey responses. However, the presence of questionnaire evaluation might not meet the requirements during the survey from a demographic population (Chau et al., 2012). What is the site location? When will site evaluation take place? Is the analysis of the environment done to maintain operation? What are the demographics of the population? What is the statistics of the mental health in young audiences of that area? Is there any other healthcare organization in the selected area? Is the material for construction acquired? What is the need for mental health care in that area? What are the promotional methods that are to be included during the opening of the organization? When will the recruitment of staffs commence? Use case diagram: A use case diagram is a process, which is used to show the existing performance of the various parameters in any website or organization. The use case diagram is also used to know the ideas of an existing user and the response made to a certain attempt (Almutairi et al., 2013). The diagram depicts various processes, which denotes the beginning of the targeted process and ends with the completion of the same process. The use case diagram is also used to know the various wrongs that can go while operating in the system. This helps the developer of the diagram to predict the various problems that may be associated with the operations of the system (Kulak Guiney, 2012). The use case diagram shown above depicts the processes of the parameters involved in the health care organization. The diagram shows the presence of four different cases. The first one depicted in the use case is the administrator functions. They are responsible to provide the administration functions to the various policies present in the organization. They are also responsible for maintenance of the operations involved. The people responsible for administration are used to co-ordinate, manage and direct the services associated with the operations of the health care organization involved (Cooper, 2012). The main purpose of the healthcare system administrators are the reduction of cost in operation and the improvement in working efficiencies. The second parameter present in the diagram is that of the protocol maker. The protocol maker is used to analyze the various requirements of the operational healthcare organization (Bates et al., 2014). They are also responsible for making and developing of new policies that help to determine and address the various implications and help to do business in a better way. Due to the directing of the healthcare needs to the betterment of the demographics intended, the various policies and standards are to be present which helps to address the needs of the demographics in an efficient manner (Drummond et al., 2015). The protocols are made, developed, and then transferred to the doctors and nurses to apply the level of standards in the treatment provided. The third parameters depicted in the diagram are the respective physicians and the roles they play to address the requirements of the organization. The policy made by the policy maker is to be followed and applied by the doctors (Rebuge Ferreira, 2012). In addition, they are also responsible for providing the initial diagnosis to their patients. The information received from the patients after the diagnosis are stored in the database of the organization for future use. They are also responsible for providing routine checks to the patients involved. The last parameter of the diagram includes the patients who apply for services. As the most important aspect is the patients and their need is necessary for doing business, the needs of them are to be addressed (Boudreaux et al., 2014). The patients also come for routine checking and the physicians provide them the same. The information collected is also stored for further use. Basic flow: Diagnose Description The physicians follow the policy made by the protocol maker. The physician provides diagnosis to the patients. The information received from the patients are recorded and stored in the organization. The physician also provides routine checkup to the patients. 1. Physicians follow the policies. 2. The physicians provide diagnosis. 3. The information received is stored in the organizational files. 4. The physicians provide routine checkup. Termination outcome The diagnosis is done. Alternative flow (A): Diagnosis Description The physicians follow the policy made by the protocol maker A1 The information is stored. A2 Diagnosed Termination outcome Patient is diagnosed Alternative flow (B): Routine check Description Patients are provided routine check up B1 Patient information is checked B2 Routine check is provided Termination outcome Routine check is done. Business rules: The patients information is collected Diagnosis is provided on the basis of policies Routine checks are given Conclusion: Thus, conclusion from the following report is drawn to emphasize the importance of the various stakeholders in the stakeholder map, the various questionnaires to follow before the implementation of the system and the use case diagram to consider the system operation. The various analysis of the report has to be implied in the organization for successful processing. References: Almutairi, S., Abu-Samaha, A., Bell, G., Chen, F. (2013, October). An enhanced use case diagram to model Context Aware Systems. InScience and Information Conference (SAI), 2013(pp. 270-274). IEEE. Bates, D. W., Saria, S., Ohno-Machado, L., Shah, A., Escobar, G. (2014). Big data in health care: using analytics to identify and manage high-risk and high-cost patients.Health Affairs,33(7), 1123-1131. Boudreaux, E. D., Waring, M. E., Hayes, R. B., Sadasivam, R. S., Mullen, S., Pagoto, S. (2014). Evaluating and selecting mobile health apps: strategies for healthcare providers and healthcare organizations.Translational behavioral medicine,4(4), 363-371. Chau, J. Y., Van der Ploeg, H. P., Dunn, S., Kurko, J., Bauman, A. E. (2012). Validity of the occupational sitting and physical activity questionnaire.Medicine and science in sports and exercise,44(1), 118-125. Cooper, T. L. (2012).The responsible administrator: An approach to ethics for the administrative role. John Wiley Sons. Drummond, M. F., Sculpher, M. J., Claxton, K., Stoddart, G. L., Torrance, G. W. (2015).Methods for the economic evaluation of health care programmes. Oxford university press. Kulak, D., Guiney, E. (2012).Use cases: requirements in context. Addison-Wesley. McGorry, P., Bates, T., Birchwood, M. (2013). Designing youth mental health services for the 21st century: examples from Australia, Ireland and the UK.The British Journal of Psychiatry,202(s54), s30-s35. Missonier, S., Loufrani-Fedida, S. (2014). Stakeholder analysis and engagement in projects: From stakeholder relational perspective to stakeholder relational ontology.International Journal of Project Management,32(7), 1108-1122. Patten, M. L. (2016).Questionnaire research: A practical guide. Routledge. Rebuge, ., Ferreira, D. R. (2012). Business process analysis in healthcare environments: A methodology based on process mining.Information systems,37(2), 99-116. Rickwood, D. J., Telford, N. R., Parker, A. G., Tanti, C. J., McGorry, P. D. (2014). headspaceAustralias innovation in youth mental health: who are the clients and why are they presenting?.The Medical Journal of Australia,200(2), 108-111.

Summary Of The Letter From Birmingham Jail Essay Example For Students

Summary Of The Letter From Birmingham Jail Essay On Good Friday in 1963, 53 blacks, led by Rev. Martin Luther King, Jr., marched into downtown Birmingham to protest the existing segregation laws. All were arrested. This caused the clergymen of this Southern town to compose a letter appealing to the black population to stop their demonstrations. This letter appeared in the Birmingham Newspaper. In response, Martin Luther King drafted a document that would mark the turning point of the Civil Rights movement and provide enduring inspiration to the struggle for racial equality. Martin Luther Kings â€Å"Letter from Birmingham Jail† strives to justify the desperate need for nonviolent direct action, the absolute immorality of unjust laws together with what a just law is, as well as, the increasing probability of the â€Å"Negro† resorting to extreme disorder and bloodshed, in addition to his utter disappointment with the Church who, in his opinion, hadnot lived up to their responsibilities as people of God. Kings justification to the eight clergymen for protesting segregation begins with a profound explanation of their actions, â€Å"Nonviolent direct action seeks to create such a crisisand foster such a tension that a community which has constantly refused to negotiate is forced to confront the issue†. The actions of the African American people are overdue and very well planned as King had explained in the letter. Their quest was to force the white politicians to negotiate and actually heed the requests for desegregation. As King explains, â€Å"past promises have been broken by the politicians and merchants of Birmingham and now is the time to fulfill the natural right of all people to be treated equal†. Violence is not what King wants, he simply wants unjust laws to change and the Supreme Courts 1954 ruling to be upheld. We will write a custom essay on Summary Of The Letter From Birmingham Jail specifically for you for only $16.38 $13.9/page Order now Secondly, King’s answer to the clergymens assertion that breaking the law is not the way to achieve the results the African American is looking for. â€Å"Conversely, one has a moral responsibility to disobey unjust laws. I would agree with St. Augustine that, an unjust law is no law at all†. King does not feel that they have broken the law, his definitive answer to the clergymen is that a law that is not morally sound is not a law. Laws are made to protect the people not degrade and punish. As far as King is concerned, the African American will continue to do whatever is necessary, preferably non-violently, to obtain the legal and moral right that is theirs. If they are not allowed this peaceful expression of the needs they so desire, it could lead to a much uglier action. Dr. King expressed his concern that if something is not done with these feelings andabsolute needs of the African American there will be violence and mayhem. â€Å"The Negro hasmany pent-up resentme nts and latent frustrations, and he must release them. So let himMarch†. History has shown that if a person or people are ignored they will become violent and fight for their â€Å"God-given† rights. King diligently explained that â€Å"black nationalist† groups are becoming prevalent in society and he has faith that the â€Å"Negro Church† has had direct influence in keeping the violence from erupting. However, how can they are expected to stay complacent?Finally, the sheer frustration King felt was with the Church in general. â€Å"In deep disappointment I have wept over the laxity of the church. There can be no deep disappointment where there in not deep love†. This is probably the most heartbreaking assertion King makes. He feels that the Church has skirted its responsibilities to the African American people, hiding behind â€Å"anesthetizing security of stained-glass windows†. King summarizes his letter by making the point that he hopes that the Church will see its responsibilities â€Å"its† means it is/you need its as people of God and understand the need for direct action, the justification of unjust laws and the impending danger of the African American rising up in violence if they are not heard. Martin Luther King does this all in a diplomatic, heartfelt and completely inoffensive voice. .ucf9527f97839217b53c9929d8b59df4f , .ucf9527f97839217b53c9929d8b59df4f .postImageUrl , .ucf9527f97839217b53c9929d8b59df4f .centered-text-area { min-height: 80px; position: relative; } .ucf9527f97839217b53c9929d8b59df4f , .ucf9527f97839217b53c9929d8b59df4f:hover , .ucf9527f97839217b53c9929d8b59df4f:visited , .ucf9527f97839217b53c9929d8b59df4f:active { border:0!important; } .ucf9527f97839217b53c9929d8b59df4f .clearfix:after { content: ""; display: table; clear: both; } .ucf9527f97839217b53c9929d8b59df4f { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ucf9527f97839217b53c9929d8b59df4f:active , .ucf9527f97839217b53c9929d8b59df4f:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ucf9527f97839217b53c9929d8b59df4f .centered-text-area { width: 100%; position: relative ; } .ucf9527f97839217b53c9929d8b59df4f .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ucf9527f97839217b53c9929d8b59df4f .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ucf9527f97839217b53c9929d8b59df4f .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ucf9527f97839217b53c9929d8b59df4f:hover .ctaButton { background-color: #34495E!important; } .ucf9527f97839217b53c9929d8b59df4f .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ucf9527f97839217b53c9929d8b59df4f .ucf9527f97839217b53c9929d8b59df4f-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ucf9527f97839217b53c9929d8b59df4f:after { content: ""; display: block; clear: both; } READ: Symbolism In Heart Of Darkness Essay

International Marketing Strategy of Fortescue Metal Group

International Marketing Strategy of Fortescue Metal Group Executive Summary The external and internal environment of Fortescue Metal Group has been analyzed in this report. The external environment presents several threats, which include high competition, tariff barriers to foreign market entry, high bargaining power of buyers of iron, and high suppliers’ bargaining power.Advertising We will write a custom case study sample on International Marketing Strategy of Fortescue Metal Group specifically for you for only $16.05 $11/page Learn More The main opportunity that is available to FMG is the expected increase in demand for iron in China and other emerging markets. Moreover, the company has the opportunity to increase its market share because of the low threat of new entrants and substitutes. FMG’s strengths include access to huge iron ore deposits, extensive railroad networks, and a talented workforce. However, its overdependence on the Chinese market is a threat to its long-term profitability. Overal l, the company’s resources and capabilities will improve its long-term success. Case Study Report: Strategic Management Introduction Fortescue Metal Group (FMG) is a leading producer of iron in Australia. Since its inception in 2003, the company has achieved rapid growth through cost reduction and expansion of production capacity. The aim of the company is to become the lowest cost producer of iron in Australia (FMG 2014). This paper will provide a detailed analysis of the internal and the external environment of the company to determine its competitiveness. The aim of the analysis is to identify the internal and external factors that are likely to influence the company’s ability to succeed in the long-term. External Environment PESTEL Analysis International trade policies are the main political factors that influence the performance of firms in the iron industry. Protectionist trade policies such as subsidizing domestic iron producers prevent competition in major mark ets such as China (Hau, Chatterjee Jingliang 2011, pp. 68-81). In emerging markets in Africa and the Middle East, high import duties reduce the competitiveness of imported iron.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Economic growth and exchange rate are the main economic factors that affect iron producers and exporters. Strong economic growth in China and emerging markets in Asia and the Middles East will continue to increase the demand for iron in the next five years (KPMG 2014). Exchange rate fluctuations have both positive and negative effects on export revenues. An appreciation of the Australian dollar against major currencies such as the yuan and euro makes iron exports from Australia to be more expensive in international markets. The reverse effect occurs when the Australian dollar depreciates. The major social factors that influence the competitiveness of ir on producers include increased population growth and urbanization in emerging market economies, as well as, lack of experienced personnel in Australia’s iron industry. High population growth and increased urbanization will increase the demand for housing, which in turn will increase the demand for iron in the international market (KPMG 2014). However, lack of experienced personnel means that Australian iron producers must incur high staff development costs. Production and transportation technologies have a significant effect on the competitiveness of iron producers. Companies that lack access to efficient third party transportation systems are unable to improve their competitiveness. Access to cheap energy and efficient mining technologies improve the competitiveness of companies in Brazil and China (Beresford, Pettit Liu 2011, pp. 32-42). Environmental regulations and access to iron reserves are key determinants of success in the iron industry. Nearly all companies in the g lobal iron industry are incurring high costs due to prohibitive carbon emission fees (Inglezakis Zorpas 2011, pp. 566-580).Advertising We will write a custom case study sample on International Marketing Strategy of Fortescue Metal Group specifically for you for only $16.05 $11/page Learn More Although Australian and South African companies have access to high quality iron ore, their counterparts in China and Brazil are losing their competitiveness due to limited access to high quality iron ore. Anti-trust law is the main legal factor that influences competition in the iron industry. The Australian Competition Tribunal has the power to declare private railroads to be open access tracks. This limits the incumbents’ ability to prevent entry into the industry (Tian, He Yi 2005, pp. 67-88). Moreover, the competition laws determine the extent to which companies can combine their resources to create synergies. For example, if the joint venture between BHP Billiton and Rio Tinto is blocked, the two companies will lose the opportunity to save $10 billion annually. According to the PESTEL analysis, the main threats to the competitiveness of FMG are limited access to third party transportation systems, tariff barriers to market entry, high carbon emission fees, and exchange rate fluctuations. This means that the company must be able to reduce its operating costs in order to overcome threats such as high import tariffs and carbon emission fees. The opportunities that are available to FMG include the expected increase in demand for iron and availability of high quality iron ore in Australia. Thus, the company can increase its sales and profits by increasing its production to cater for the expected increase in demand. Porter’s Five Forces Analysis Suppliers’ Bargaining Power The main suppliers in the iron industry include owners of land with iron ore deposits, suppliers of fuel, and manufacturers of mining equipment. Owners o f land such as the Aborigines have high bargaining power due to the limited supply of land with iron ore deposits.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Suppliers of fuel have high bargaining power due to their low switching costs (KPMG 2014). They can easily shift their supply to other industries such as manufacturing and transportation, which are able to offer high prices. Suppliers of mining equipment have high bargaining power since their products are highly differentiated. The high bargaining power of suppliers means that iron producers can be exploited through high prices of key supplies. Threat of Substitutes Iron is mainly used in the production of steel. In the steel industry, â€Å"scrap metal is the only substitute for iron† (Beresford, Pettit Liu 2011, pp. 32-42). The threat of substitutes is low since iron performs better than scrap metal in terms of quality and availability. The low threat of substitutes means that iron producers face little competition from sellers of scrap metal. Buyers’ Bargaining Power Buyers (steel mills) have a high bargaining power due to their ability to implement backward integr ation strategies. For example, China’s Hunan Valin Iron and Steel Group has invested in FMG to improve its access to iron. The high bargaining power of buyers is also explained by their ability to make bulk purchases. Buyers are also price-sensitive since they focus on reducing production costs in order to improve their profit margins (FMG 2014). The high bargaining power of buyers will continue to put a downward pressure on iron prices, thereby reducing the profits of iron producers (Doole Lowe 2008, p. 121). Threat of Entry The threat of new entrants is low because the incumbents have economies of scale in production and transportation, which acts as a barrier to entry. For example, BHP Billiton and Rio Tinto restrict access to their railroads, thereby preventing new companies that cannot construct their own railroads from joining the industry. Other barriers to entry include huge financial capital requirements and the incumbents’ control of major mining sites. The low threat of new entrants is an opportunity to the incumbents to defend their market shares (Czinkota Ronkainen 2012, p. 57). Competitive Rivalry Competition is very high because of the high concentration of the industry. The top three largest firms control over 70% of the market, thereby increasing competition for the remaining 30% of the market. Fixed costs are also high since the industry is labor intensive. Although competition is high, the global market for iron is expected to grow by 11% in the next three years (KPMG 2014). The high competition will reduce the profits of iron producers. According the Porter’s five forces analysis, the factors that are likely to have adverse effects on the competitiveness of FMG are the high bargaining power of buyers, high bargaining power of suppliers, and high competition. This means that the company must respond to suppliers’ high bargaining power by reducing its operating costs (Terpstra, Foley Sarathy 2012, p. 73). Simila rly, it must be able to respond to buyers’ high bargaining power by reducing its prices. These strategies will enable the company to overcome competition. The expected growth of the market is an opportunity to FMG to expand its production capacity to earn high profits. Most Significant Resources and Capabilities The most important resources and capabilities that are shaping FMG’s competitive position include the following. First, the company has access to huge iron ore reserves in Pilbara. In 2013, the company’s iron ore reserves in Chichester and Solomon increased by 12% (FMG 2014). Access to high quality iron core enables the company to compete effectively by meeting its effective demand. In addition, the reserves will enable the company to continue with its mining activities in the next decade. Second, the company is capable of expanding its railroad and production capacity to meet the demand for its products. This enables the company to avoid delays in fulfi lling orders. Third, the company has a highly experienced and talented workforce. In addition, it has an effective organizational culture that promotes commitment and staff retention. As a result, it will be able to achieve product and process innovation (Freeman 2010, p. 89). Finally, the company’s corporate social responsibility initiatives focus on strengthening its relationships with the local communities. These include providing training and employment opportunities to Aboriginal groups. This strategy enables the company to avert resistance from the local communities who provide land for mining. These resources will enable the company to expand its operations in future. Strengths and Weaknesses Strengths The company has the following strengths. First, the company is financially stable. It has been able to realize a strong growth in profits in the last four years. In 2013, FMG reported a pre-tax profit of USD $1,746 million, which represents a 12% growth (FMG 2014). Secon d, FMG has a cost advantage in the iron industry. The company is able to maintain low operating costs, which in turn enables it to increase its profit margins. Third, the company has focused on forward integration through joint venture agreements with major buyers of iron such as Hunan Valin Iron and Steel. This enables it to defend its market share. Finally, FGM has an extensive railroad and port infrastructure in Australia. Currently, the company is expanding its railroad to cater for the increase in its transportation activities. The railroad enables the company to reduce the time and the financial resources that it requires to transport raw materials to the production centers. It also enables the company to transport its products in a cost-effective manner and to earn additional revenue from companies that use it for transportation. Weaknesses One of the main weaknesses of the company is its overdependence on the Chinese iron market. The company is likely to make huge loses if t he demand for iron reduces significantly in China. Another weakness of the company is its inability to raise external capital to finance its expansion. Lack of access to external funding will slow the pace at which the company will expand, thereby denying it access to available growth opportunities (Sadler 2003, p. 91). In sum, FMG’s excellent financial performance will enable it to attract investors. Thus, it will overcome its inability to access external capital. The company’s cost advantage will enable it to charge low prices to gain market share in other countries. As a result, it will be able to reduce its dependence on the Chinese market (Witcher Chau 2010, p. 117). Capacity to Succeed in the Long-term The company has adequate capacity to succeed in the long-term due to the following reasons. To begin with, its iron ore reserves at the Christmas Creek and Cloudbreak have a lifespan of 20 years. This means that FMG is assured of access to iron ore in the next ten years. Apart from the existing reserves, the company has focused on extensive exploration to increase its iron ore reserves. In 2013, the company formed a joint venture with China’s Baosteel Group and Taiwan’s Formosa Plastics Group to exploit huge iron ore deposits at its Iron Bridge reserve (FMG 2014). The Iron Bridge project will significantly increase FMG’s access to high quality iron ore. Moreover, the Iron Bridge reserve is a credible threat to entry that will enable FMG to prevent its competitors from expanding their capacities (Doole Lowe 2008, p. 56). Apart from having huge iron ore reserves, FMG continues to pursue its forward integration strategy to increase its market share. In 2013, Formosa Plastics Group completed its steel plant, which is the largest in the world (FMG 2014). Similarly, Baosteel Group is the second largest producer of steel in the world. By partnering with these companies, FMG will have the largest market share in the long-term. Conclusion The main threats in the iron market include high competition, environmental regulations, high buyers’ bargaining power, and high suppliers’ bargaining power. The opportunities that are available to FMG include the expected increase in demand for iron and low threat of substitutes. The company is capable of overcoming these threats due to its strengths and resources, which include access to large iron ore deposits, extensive railroad networks, strong financial performance, and forming joint ventures with the largest buyers of iron. However, the company needs to reduce its dependence on China’s market by increasing its exports to other emerging markets. References Beresford, A, Pettit, S Liu, Y 2011, ‘Multimodal supply chains: iron ore from Australia to China’, Journal of International Supply Chain Management, vol. 16. no. 1, pp. 32-42. Czinkota, M Ronkainen, I 2012, International marketing, Oxford University Press, London. Doole, I Lowe , R 2008, International marketing strategy, Sage, London. FMG 2014, 2013 annual report. Web. Freeman, E 2010, Strategic management, Sage, London. Hua, S, Chatterjee F Jingliang, C 2011, ‘Achieving competitive advantage in service supply chain: evidence from the Chinese steel industry’, Chinese Management Studies, vol. 5. no. 1, pp. 68-81. Inglezakis, V Zorpas, A 2011, ‘Industrial hazardous waste in the framework of EU and international legislation’, International Journal of Environmental Quality Management, vol. 22. no. 5, 566-580. KPMG 2014, Quarterly commodity insights. Web. Sadler, P 2003, Strategic management, John Wiley and Sons, New York. Terpstra, V, Foley, J Sarathy, R 2012, International marketing, John Wiley and Sons, New York. Tian, Z, He, Y Yi, G 2005, ‘The pricing behavior of firms in the Chinese iron and steel industry’, Asian Pacific Journal of Marketing and Logistics, vol. 17. no. 3, pp. 67-88. Witcher, B Chau, V 2010, Stra tegic management, McGraw-Hill, New York.

Data Mining Essay Example | Topics and Well Written Essays - 250 words

Data Mining - Essay Example The second stage is Predictive Modeling, whereby patterns discovered in the earlier stage are used to make predictions about the future. The third stage is Forensic Analysis, where the patterns extracted are used to find unusual data elements. 3. One of the pitfalls of data mining is the vast quantities of data that are generated(Khabaza, 2005). When the volume of data is too high, mining becomes sluggish, hence the way to avoid this is by using sampling. Another is the generation of irrelevant data, so that the amount of relevant data mined may be less. Thirdly, if data mining is disorganized, it takes place in an ad hoc manner and will not generate useful results. Avoiding this requires clear definition of goals. When there is incompatibility in data mining tools, this causes interference in exploratory capability and high overhead costs. 4. The data mining program was used to identify hidden trends in the data. The airline company can use the data to identify the specific characteristics of those customers who are frequent users of the airline. The mined data can also be used to find a relationship among different sectors based upon customer behavior. 5. Two specific industries where data mining is likely to be very useful are banking and the retail industry. With the increase in electronic banking, transactional data can be easily captured and data mining helps analyze it. Data mining in the banking industry can help banks to analyze trends and patterns and to predict how customers may react to change sin interest rates. In the retail industry, data is collected when orders are placed and data mining of such information can unearth demographic trends in the data and can help direct marketing efforts. * Khabaza, Tom, 2005. â€Å"Hard hats for data miners: Myths and pitfalls of Data Mining†, DM Review