Examining a Business Failure Essay Example | Topics and Well Written Essays - 1250 words

Examining a Business Failure - Essay Example In simple terms, business failure can be defined as a situation whereby a company or an organization ceases operations due to inability to make profit or because it can no longer be able to bring in sufficient revenue that can cover the expenses it incurs. Studies have shown that business failure can be caused by the following factors: increased competition; poor implementation of strategies; outdated technology; poor management; poor leadership; financial problems; and economic challenges (Hatch, 2006). In order to have a better understanding of business failure, this paper will discuss the failure of Enron Corporation. Enron Corporation was one of the leading players in the energy market; actually, in the year 2001, it was the United States ’ seventh Largest Corporation in terms of revenues (Mclean and Elkind, 2003). However, it suffered a catastrophic collapse as a result of financial scandal (famously known as Enron Scandal) which involved its accounting firm (Arthur Ander sen), Enron’s management and leadership. The scandal involved fraudulent accounting procedures and practices which occurred during the 1990s and the beginning of 21st century. These fraudulent activities included manipulation of the Enron’s stock price. This scandal eventually led the Corporation to file for bankruptcy in December 2001 (Fox, 2003). Robbins (2004) argues that whereas events leading to business failure of an organization often take different dimensions, the contribution of the organization’s management, leadership, and organizational structures towards the failure cannot be ruled out. As a matter of facts, he notes that this contribution is usually central to business failure in any given organization. So, how did Enron’s leadership, management, and organizational structures contribute to the failure of the organization? Fox (2003) observes that the trials relating to Enron scandal showed that, indeed, the Corporation’s leadership co ntributed to its failure. Enron executives were charged with criminal acts that include insider trading, money laundering, and fraud. What became clear was that the Corporation’s leadership only focused on influence, greed, power, and profits and paid little attention to the Corporation’s Code of Ethics (Mclean and Elkind, 2003). Their focus made them to make wrong and deceiving decisions, as well as conspiring with Arthur Andersen auditors to engage in illegal accounting activities and methods. Jeff Skilling, Ken Lay and Andrew Fastow are the most notable top-level leaders of Enron whose behaviours greatly contributed to the collapse of the Corporation (Fox, 2003). For example, Andrew Fastow who was the Corporation’s chief financial officer engaged in improper partnerships, fraud, and money laundering activities. Jeff Skilling engaged in conspiracy, insider trading, made false financial reports, and in fraud. Ken Lay made misleading statement and got involved i n fraudulent activities (Mclean and Elkind, 2003). As leaders of the Corporation, Fastow, Skilling, and Lay were expected to adhere to and uphold Enron Code of Ethics that called for integrity, excellence, communication, and respect. However, they engaged in activities that challenged the Corporations ethics code’s foundational values. The top leadership as well as the Corporation’s senior management contributed to the failure by attempting to create a conglomerate in the energy industry that was aimed at increasing the

The effects of caffeine on sprint performance times in cyclists Literature review

The effects of caffeine on sprint performance times in cyclists - Literature review Example al., 2012). The caffeinated drinks are gaining importance among the sprinters and other sport persons depending on the notion that drinks containing caffeine leads to physical and mental development. Furthermore, the caffeinated drinks are even noted to be increasing strength and endurances among athletes, which actually develops the popularity among the sportspersons to use such drinks. Physiological effects of caffeine are noted to be creating a huge amount of influence on sports person (Zapata & Obispo, 2011). Moreover, many sports persons have even affirmed the fact that the use of caffeine is noted to be creating an influence on the overall development of the physical needs of the players. Additionally, this is creating an impact on their physiological development during the initial days of practice. During the early years of practices, the use of caffeine is creating a huge amount of influence on the overall performances of the players during the initial use of the product. Use of caffeinated supplements during the time of practices has been affecting the overall development of the players. Laboratory reports support the views that the use of the caffeinated supplements increases stamina and strength among the players and develops their capacity to perform better. Positive effect of caffeine is even noted to be enduring performances among sprinter and is often acting to be a positive support for their development (Lee & et. al., 2014). With the positive impact of the product in the lifestyle of the athletes, there has been a change in the quantified use of the same. The caffeinated products support the sprinters with alertness and wakefulness and the same is easily digestible, hence, its acceptance within the different field of sports and other programs are likely to increase. The alarming rate of increase in the use of caffeine with regard to energy drinks are noted to be creating an influence on the

Securing the Nation from Terrorism Threat Essay Example | Topics and Well Written Essays - 500 words

Securing the Nation from Terrorism Threat - Essay Example The local community initiatives that can address mitigation and preparedness against terrorist attack include: Volunteering in the police service, This is initiatives that train civilian volunteers who then can assist in the local police department, freeing up an officer to a critical function that affects community security (Docobo). Also through neighborhood watch initiatives that encourage civilian to report to authority any suspicious activity in their immediate neighborhood, according to Docobo in the aftermath of September 11, 2001, neighborhood watch has taken a greater priority as the mean of securing our community. Community emergency team’s initiatives, these programs provide emergency training to civilians with the aim of enhancing their capacity to respond and mitigate the effect of disasters (Docobo). Also through the initiative of medical reserve corp where skills of practicing and retired physician, health professionals and nurses who are willing to volunteer are brought together and play a mitigation role in the event of a large-scale emergency situation. Docobo points out that, since September 11, 2001, community initiatives toward disaster mitigation and preparedness partnership with a homeland security play vital role in addressing the security issue, this is because communities have dynamic skills necessary to identify, plan, mobilize and respond to the terrorist attack (Docobo). However, trust is an important component that builds community participation. Homeland security in collaboration with the private sector enhances preparedness through various means, which include: developing and implementing risk-based transportation, this approach focus on those who pose a threat to the transportation network where passenger and cargo screening is emphasized even in the private sector so that to ensure the security of all American people.  

Research papers Paper Example | Topics and Well Written Essays - 500 words

Papers - Research Paper Example The HRD helps in polishing up the performance of the employees by providing them expertise training, which contributes to the better performance of the organization. The main purpose of HRD is to enhance the organizational performance contributing in productivity of the company (Richard & Et. Al., 1996). HRD not only helps in enhancing the performance of the employee but also is important factor in the establishment of relationship among the existing HR policies (Richard & Et. Al., 1996). The mission of Mace Ford organization is to organize the people working together for the global automotive leadership, as one team involving customers, dealers, councils/unions, employees, investors, suppliers and community (Ford Motor Company, 2011). The HRD of the company follows many practices of human resource development processes such as 360 degree appraisal. The 360 degree appraisal helps to understand the employee needs more briefly because the approach tends to engage the employees directly. In 360 degree process, feedback is obtained providing the HRD a better way in operation. The HR practices adopted by Ford maximize the competencies, commitment and abilities of the organisation’s employees. HRD should provide the workers of the company with customer service training which focuses on customer satisfaction intended to increase the market share of the company. HRD mostly deals with people of an organization so as to improvise better performance from individual employees. Career development should be enlisted by HRD in the organization through the implication of functioning Internal Job Posting (IJP). These practices would result into customer service excellence, one of the main missions of the company. HRD should emphasize more on team effort, developing healthy and friendly work environment. HRD should provide training on recognizing the importance of customer needs and meeting them. Every

Evolution of the internet and the impacts on travel agencies Assignment

Evolution of the internet and the impacts on travel agencies - Assignment Example In the essay "Evolution of the Internet and the impacts on Travel Agencies" outlines how Internet changed the way how travel agencies work. For instance, now customers can directly access the internet sites and can book the tickets within a quick period of time. There are several negative impacts of the evolution of information technology on the travel agencies too. Third party cost is the major business barrier of several airlines, hotels, and restaurants. Therefore, the organizations had to pay a commission rate to these travel agents. These activities automatically increase the business operation cost. Nowadays, people can book their tickets on their own through online networking sites without any kind of help of third parties. The implementation of online strategies helped the organizations and customers in several ways. It can reduce the business operation cost for the organizations. The travel agents can get, store and provide a large number of data and information. On the other hand, implementation of online ticketing strategies helps the organizations to reduce third-party booking costs so that they can provide low fare tickets to the customers. People of several developed countries generally prefer online booking of tickets and leisure facilities. It is true that US is technologically developed country. Recent financial crisis and economic recession affected the global economic environment. Low disposable income of people and limited purchasing power are the major consequences of this economic slowdown. Earlier, during the Brick-and-mortar age organizations had to effectively rely upon the third party business partners in order to increase their sales margin. On the other hand, customers also had to depend upon these third party individuals to book

Divorce Essay Example | Topics and Well Written Essays - 1250 words - 1

Divorce - Essay Example This increasing rate of divorces can be blamed on an imbalance between understanding the other person and maintaining one’s own self-esteem at the same time. The inability of the couples to appreciate their partner and the values of marriage has led to the soaring statistics of divorces (Kramer). With the advent of the same-sex marriages and state laws permitting them, a difference can be seen in couple behaviors and relationship attitudes between the same-sex and heterosexual couples. A very intriguing concept put forward by Peter D. Kramer, analyses the values of autonomy and mutuality amongst the couples and the importance of their equivalent preservation. Autonomy is one of those values that is imprinted in the American psychology and even in marriages the couples are emphasizing on maintaining their self-beliefs and their true identity against whatever the circumstances. Carl Roger states that, â€Å"a successful marriage is one that increases the self-actualization of each member†. In olden times, only men were privileged with this right of self-governance, however 1970’s introduced this ideology to the women as well. It is important to note here, when both members of the couple assert their self-importance and individuality, it is a step forward towards progress and social evolvement. But the irony of this concept is that it leads to a greater number of divorces. Therefore it is of most importance that this ideology should be in a state of equ ilibrium with mutuality and acceptance of the other person. Mutuality is a virtue that is not commonly practiced in our society and the attention of an individual is mainly directed towards self-enhancement, self-help and self-esteem. It is not something that can be taught or practiced spontaneously; rather it needs to be incorporated in our society just like the concept of autonomy is. Marriages will not be able to thrive in a healthy manner until and unless

Medical Tourism in Goa Essay Example for Free

Medical Tourism in Goa Essay Medical Tourism in Goa Tina D’costa TYBBA MES college of Arts, Commerce Management studies Medical Tourism The seven wonders of the world are all too well known. However one can’t help but marvel at other developments, that have developed magnificently over the years. These unsung heroes are the ones that carry Indias legacy forward. India in a developing country, but we do not wish to limit ourselves to the meaning of the word that entails ‘developing’. If one takes a look at the Medical facilities offered here in India, they would be amazed at the state of the art facilities and quality of service one receives, that complies to international standards. Particularly if you are an NRI, tourist or foreigner, you can be sure of receiving unprecedented attention. The common man too can now find solutions of world-class healthcare with very affordable price tags. Health care and tourism seems quite an odd couple, but with the growing needs in the health-care industry coupled with the idea of a holiday after, is irresistible and people are looking towards India both for allopathic and ayurvedic treatments. The idea of medical tourism never crossed the Goan mind until the seting up of the Apollo Victor Hospital at Margao which is the first super specialty, multi-specialty, tertiary care hospital in the state. With the advent of this hospital, Goa suddenly woke up to this new concept, which caters to people coming in either for planned treatments or for unplanned treatments. Medical tourism is a recent phenomenon in Goa. Many world class medical hospitals like Apollo and Vivus have been started in Goa, which provide world class facilities at a fraction of the corresponding cost abroad. Foreigners from many developed countries prefer to come to Goa for a variety of treatment ranging from dental surgery, hearing problems, knee replacements to even heart surgery. This is a market where Goa has potential for further development and the government should take steps to see that this market can be sustained and increased medical tourism can be promoted in the future. India’s smallest state, Goa, has earned a negative reputation for its drug culture, rave parties, and nude beaches. However, the Ministry of Tourism  is trying to reverse this image through its active promotion of medical tourism. The Ministry is making laudable efforts to showcase the state’s potential, especially in offering  medical vacations  for  tourists who continue to find  affordable  health  care  insurance  a rarity back in their respective  countries. Considering the thousands of  tourists  who flock to Goa annually for its beautiful scenery and its rich architectural heritage, the  medical  tourism industry  here is projected to record impressive growth. Tourism is Goas primary industry. It handles 13% of all foreign tourist arrivals in India. Goa has two main tourist seasons: winter and summer. In the winter time, tourists from abroad (mainly Europe) come to Goa to enjoy the splendid climate. In the summertime (which, in Goa, is the rainy season), tourists from across India come to spend the holidays. Tourism is generally focused on the coastal areas of Goa, with decreased tourist activity inland. Goas tourism contributes to 16% of Indias total foreign exchange earnings. In 2009-10 there were more than 2. 5 million tourists reported to have visited Goa, both domestic and foreign and total revenue earned for the fiscal year 2009-10 from tourism is Rs. 5000 crore as against Rs. 4000 crore in the previous year. A major upcoming concept attracting a lot of tourists to Goa is the rise of Medical Tourism in Goa. Dentists in Goa claim that tourists save over 70% on their dental treatment if done here in Goa. Hence they are now offering holiday packages which include expensive dental treatments too. The Booming Medical Tourism. The concept of medical tourism is not a new one. The first recorded instance of medial tourism dates back thousands of years to when Greek pilgrims traveled from all over the Mediterranean to the small territory in the Saronic Gulf called Epidauria. This territory was the sanctuary of the healing god Asklepios. Epidauria became the original travel destination for medical tourism. Spa towns may be considered an early form of medical tourism. Factors that have led to the recent increase in popularity of medical travel include the high cost of health care or wait times for procedures in industrialized nations, the ease and affordability of international travel, and improvements in technology and standards of care in many countries of the world. Medical tourists can come from anywhere in the world, including Europe, the UK, West Asia, Asia, US and Canada. This is because of their large populations, comparatively high wealth, the high expense of health care or lack of health care options locally, and increasingly high expectations of their populations with respect to health care. Health tourism provides have developed as intermediaries to unite potential medical tourists with provider hospitals and other organizations. It has been started that â€Å"medical tourism is promoted much more heavily in the United Kingdom than in the United States†. A large draw to medical travel is convenience and speed. Countries that operate public health-care systems are often so taxed that it can take considerable time to get non urgent medical care. The time spent waiting for a procedure such as a hip replacement can be a year or more in Britain and Canada; however, in Singapore, Hong Kong, Thailand, Cuba, Colombia, Philippines or India, a patient could feasible have an operation the day after their arrival. Additionally, patients are finding that insurance either does not cover orthopedic surgery (such as knee/hip replacement) or imposes unreasonable restriction on the choice of the facility, surgeon, or prosthetics to be used. Medical tourism for knee/hip replacements has emerged as one of the more widely accepted procedures because of the lower cost and minimal difficulties associated with the traveling to/from the surgery. Medical tourists may seek essential health care services such as cancer treatment and brain and transplant surgery as well as complementary or ‘elective’ services such as aesthetic treatments (cosmetic surgery). Ayurveda Treatment Ayurveda which is form of medical treatment originated from India has gained a lot of prominence in European world for health benefits. Ayurveda means life and Veda signifies knowledge. Therefore by its definition Ayurveda lifts itself beyond the realms of diseases and treatments. It treats life as a single composite phenomenon. After Kerala now Goa is one of Indias best destination for combining Tourism with Ayurveda Treatment. A Goan  Medical  Vacation India is known worldwide for the quality of cardiac procedures and joint replacement surgeries. Tourists from all over the world come down to Goa to take in the sights as well as to benefit from Medical amenities available. Goa is uniquely positioned to develop its health tourism sector. Affordable  Health  Care  Insurance is  a Problem for Goan Locals. While  tourists  rave about the  medical  tourism  facilities  that Goa offers, Goan locals are feeling the pinch due to the escalating  prices  of  medical  treatments. There is now a clamor for an improved  health care  system in the state. The average Joe on the street can afford neither the exorbitant rates of the specialty  hospitals  nor basic  health care insurance. Adding to this dilemma is the lack of  available clinical  services  in remote areas plus the high  prices  of  medication  for  senior  citizens Medical tourism has come to be a new branch of tourism so formed in recent times. The following are some reasons why one visits Goa for Medical tourism: 1. Variety and abundance of available medical skills Goa is very well prepared to service foreigners when it comes to health care. Most Goan doctors speak perfect English, a majority of them are also schooled or trained abroad. While India in general has an universal healthcare system ( meaning that most drugs or procedures are free for the local population) there is also a healthy competition between governmental and privately run hospitals and healthcare institutions for servicing the more wealthy locals with lifestyle procedures (like cosmetic surgery) or visiting foreign tourists (who want to save a dime or two compared to their home countries). If you look around in the tourist belt , you can find plenty of private healthcare providers. Especially the north-western coastal region (Candolim, Calangute and Baga) one can find dental clinics spread all along the coastal belt. In this mentioned area alone I can easily count 30-40 dentists, while larger hospitals mainly only have outlets here, with their main operations to be found in the larger cities like Mapusa, Panaji or even Margao in the south. Major hospitals to consider are for instance the Vrundavan Hospital in Mapusa, Manipal Hospital in Dona Paula, Vintage Hospital in Panaji, Apollo Victor Hospital (very new and a bit more expensive) and NUSI Hospital in/near Margao. Some of the medical services ffered here are: General Medicine and Cardiology, Orthopedic Surgery, Pediatrics, Trauma and Critical care, Cardiovascular and Thoracic Surgery, Endoscopic and Laproscopic Surgery, Gastroenterology and Oncosurgery, Neuro surgery, Cosmetic Surgery, ENT, Urology, Nephrology, Dermatology, Ophthalmology, Dental, Medical Genetics and Counseling, Respiratory Medicine, Physiot herapy, Dietetics, Alternative and Ayurvedic Medicine. Vaccinations too, can be had in almost every hospital. 2. Quality of Surgery, medical personnel and other amenities This one is a bit hard to describe and has to be seen to be believed. Hospitals here in Goa for sure don’t look very special from the outside. Once inside, and you are in a complete different world. The hygiene in every hospital is generally good. Sometimes you really have to wonder, how they can maintain a hospital so clean in an area that looks like a rubbish dump from the outside. Welcome to India! Here especially, looks can be deceiving. Operational devices, x-ray machines, dental equipment and other instruments are of high standard, although not quite on par with Singapore or European ,machines (except the dentists maybe). But you can expect modern facilities and up to date staff and nurses in spotless uniforms. So for general healthcare services and minor surgeries I wouldn’t be afraid to go under the knife here, as most established procedures didn’t change much over the last couple of years. 3. Short Queues or waiting Times Generally, most dentists and hospitals in Goa have very short waiting times, completely different to healthcare providers in Europe or other developed countries, where you sometimes have to make appointments weeks in advance. As a foreigner you can enjoy a very individual and prompt reception. Dentists usually will arrange appointments only 2-3 days away, convenient enough to get a procedure done during a 2-week holiday. The same applies for consultations without appointments with specialists. As a paying customer you usually don’t have to wait long in crowded waiting areas. The few times we had to visit a doctor it was all between 10-15 minutes of waiting times. You also don’t have the feeling that the doctors are very pushy and want to have you out within 5 minutes of their time. A checkup is done very thorough and in an individual manner. The stuff is generally friendly and genuinely interested in your well-being. 4. Low Costs of Generic and Branded Medicine Most medicines can be bought here without prescriptions either right in your local pharmacy or ordered by them if not in stock. Goa is dotted with thousands of pharmacies at every corner. Again the tourist areas from Candolim to Baga have the highest density of pharmacies, while I found Mapusa further to the north-east the best stocked. The best thing: prices for medicines are fixed! So you don’t have to haggle like with everything else in India. Prices are printed on the boxes of medicines and that’s exactly what you pay Another specialty: some branded items are sold here already as generics, even though in most other countries you still can only buy the branded (more expensive) product. One example, a modern tacrolimus-based skin ointment is anywhere else in Asia only available as the branded version (Protopic) and will cost you anything from 300. 000 Rupiah in Indonesia, around 1. 200 Baht in Phuket, 2. 150 Peso in the Philippines to 80-100 SGD in Singapore. No genericsavailable. Buy the real thing or forget it. Not here in India: A generic version (Tacroz Forte) costs a mere Rs 320 for 10g. That is only 20% of the price in Indonesia or Thailand, 15% of the price in the Philippines or 10% of a similar product in Singapore. Isn’t that amazing? Talk about globalization and how you can exploit it for yourself! I found that true for other specific medicines as well. Here are just a few examples for other more common products: Band Aid wash proof: Rs 20 for 10 pieces Immodium: Rs 20 for 10 capsules Paracetamol 500: Rs 14 for 10 capsules Vitamin B complex: Rs 15 for 10 capsules Topical Antibiotic Spray: Rs 195 (40g) Antibiotic Skin Cream: Rs 50 (10g) Broad Spectrum Antibiotic: Rs 50 for 10 capsules Now I just wish, they would be able to send all those cheap medicines abroad to my next travel destinations! 5. Low Consultation and Doctor fees As with everything else in India, one can compare prices and get an impression of the doctor for their surgery first, before committing to a procedure. Luckily the initial costs are very low (for dental procedures, the first checkup is generally free of charge, while for other consultations the fees are quite low, see below). Costs for surgery is generally only a small percentage to health care costs if done in Europe, Australia or the US. I was in Singapore once and was in awe over their low health care costs compared to India. There, major plastic surgeries were nearly dirt cheap. For minor surgeries however, you could save even more, considering getting it done here in India. One example: a friend from Singapore visited us here in Goa, to get a cyst removed on her wrist. While the same surgery would have cost between SGD 1. 200-1. 600, the same procedure was only around SGD 300-400 here in Goa. All with similar quality, aftercare and all costs included. That is only 25% of the cost compared with Singapore I had some dental work done here in Goa, fillings and tooth cleaning, all done very professionally and on short notice. As mentioned above, to consult a specialist, you don’t have to pay a fortune here. From my own and my friend’s experience and what other friends and relatives abroad told me, here are some examples of consultation fees: Dentist: First Consultation – free of charge General Practitioner: Rs 100-250 per Visit Dermatology: Rs 100-200 per Visit Orthopedist: Rs 250 per Visit For minor surgery, like the above mentioned cyst removal, here are some example prices: Orthopedic Surgeon Charges: Rs 5,000 per surgery Anesthetic Charges : Rs 1,500 per surgery Operation Theater Charges: Rs 2,300 per surgery Hospital bed per day: Rs 1,000-2,000 for common ward, depending on hospital Hospital bed per day: Rs 4,000-7,000 for private room, depending on hospital Here are some dental examples: Glass Ionomer Filling: Rs 960 Composite Resin Filling: Rs 1,600 Porcelain to Metal Crown: Rs 7,200- 10,500 Stellon/Fibre Glass/Travelon Dentures: Rs 12,000-24,000 Metal/Invisible Braces: Rs 24,000-44,000 Conclusion: Goa is an interesting location for getting your health propped up and getting those long postponed surgeries done. You have modern facilities, short waiting times and very affordable prices for procedures, hospital services and medicines. Over that you will probably recover much faster, with a holiday in an exotic location added as a bonus. These days with the global financial crisis upon us, prices for flights and package deals to Goa are as low as they can get. So many people are flocking to Goa now, to benefit from the low costs the most. Some people even try to strike a deal with their health insurance provider, either to cover parts of their costs or acknowledging an otherwise not possible surgery. As with everything in India , one has to be aware of some pitfalls too : while medicine prices are generally fixed, this can’t be said about the services and hospital procedures. But there is a good competition, so one can comfortably look around, ask and compare prices before committing to anything. In short, there is a broad variety of options to choose from here. One can talk to different doctors and if in doubt, stick with a larger and well-known hospital instead of a small private clinic. With the facilities Goa can offer, it could be easily converted into a centre of excellence for Medical Tourism. Add to it, the flavour of Goan hospitality, medical tourism could be made very attractive. We therefore have an excellent opportunity to market health care in Goa, especially to the Britishers who consist of 60 per cent of the total tourists arriving in Goa.