Seek feedback Essay Example for Free

Seek feedback Essay Seek feedback from people that you know about a task that you regularly carry out. This might be a task that you carry out at work. If so, you should seek feedback from employees, clients and colleagues. Alternately, this might be a task you carry out in your day-to-day life, such as driving a car or making dinner. If so you should seek feedback from friends and family members. How would you ensure that the feedback you receive is useful? How would you use this feedback to identify and develop ways to improve competence in the task you have selected? I have recently been learning to drive a manual car and have been getting lots of feedback from my instructor each lesson I have. While I already no how to drive automatic my focus is mainly based on driving the actual car itself. The feedback I receive is always positive on weather it is something I have done well or need to work on. They include: †¢1st gear I need to practice taking off in first gear as I tend to stall a lot, I can do this by feeling the point of which the clutch grabs and the car starts moving without acceleration. At this point I can then slowly accelerate and release the clutch simultaneously †¢Clutch – again feeling the point of which the clutch grabs. †¢Gear transitions – I need to work on smoother gear transitions whilst in movement. This is done with practice, watching revs and taking my time. †¢Stopping – working on coming to a stop by using my engine, this is done by knowing what limits a certain gear has and when I can drop back without revving the car to high as this could cause damage. †¢Changing gear while turning a corner – this is difficult at first as you are trying to not only steer but also change gears with the other hand. Also just takes practice. †¢Reversing – I have the same problem here as in first gear as I am just dong the opposite. Just need to know where the point of grab is in my clutch. By continuing to have lessons and perhaps finding a family friend to teach me also, with enough practice I should be able to master the task of learning to drive a manual with ease. I can insure that the feedback I receive is useful by : †¢Asking for specific examples, rather then generalisations. †¢Ask for explanations on their feedback they have given. †¢Ask for information on specific situations.

Organizational Direction of British American Tobacco Nigeria limited

Organizational Direction of British American Tobacco Nigeria limited The purpose of this report is to discuss current organisational direction of British American Tobacco Nigeria Limited (BATNL) and explore competitive business plan for BAT Nigeria with strategic dimensions ranging from 2009 to 2012. The body of the document offers an analysis of the external, transactional and the internal environment of the company. Subsequently, the report considers the companys core competencies and its key competitors, in order to deliberate courses of action that will enable BAT Nigeria to achieve a sustainable competitive advantage. The recommendations aim to enhance BAT Nigerias existing competencies, this will add value to all the stakeholders. Disclaimer: This report only considers British American Tobacco Nigeria Limited as a legal business entity and does not intend to endorse consumption of tobacco products in any form. 2. Executive summary This report aims to critically analyze the option that will ensure that British American Tobacco Nigeria Limited (BATNL) remain market leader by sustaining its competitive advantage in a highly competitive industry. Becoming no.1 in the market is hard work, but maintaining that position is far more difficult. In the light of this, I have critically examined the plausible scenarios and arrived at an option which will strengthen BATNLs current market position. The company today is facing the uphill task of dealing with threats from new market entrants, operational limitations caused by limited international suppliers, lack of availability of locally sourced sun cured tobacco, stricter legislative restrictions and challenges to further increase market share. This report suggests to management an option of forming a system of consistent market dominance and build sustainable competitive advantage. The option consists of an action plan which includes forward and backward integration of supply chain, capacity utilization and development of Nigerian production facilities as an export Hub to West and Central African countries. The backward integration of supply chain involves sourcing the Virginia tobacco from a wider international supplier base in order to prevent raw material out of stock (OOS) situation of super premium, premium and international VFM (Value For Money) brands. Similarly, local sourcing of sun cured Tobacco for VFM production should be expanded by involving larger numbers of small rural farmers in BATNLs business sphere in order to meet raw material requirements for the continuously growing demand of the VFM segment. The forward integration includes developing a wider and more efficient distribution network by means of integrating identified front end strategic customers into electronic distribution system and by providing financial assistance. The strategic location of the country can be exploited so as to establish it as an export hub to other West and Central African countries. It would ensure cost saving advantages to the group, especially in terms of cheaper labour, freight and import taxes. Securing forward and backward integration along with both the manufacturing factories in Nigeria acting as export centres, would make it feasible to proceed with capacity utilization, thus reaping the benefits of economies of scale. In the current scenario, it is going to be very hard to increase share of the existing pie, so the endeavour should be to augment the size of the whole pie rather than poach on the share of competitors. Migration from other brands seems a largely uphill task considering the large market size BATNL enjoys now. To enhance sales, the modus operandi should be concentrated towards capturing the increment in the market as a whole. The incorporation of the above discussed ideas would ensure a sustained competitive advantage, with the aim of increasing rent. 1. Organisational Strategic Aims and Objectives: 1.1 Current Strategic Aims and Objectives: In the early 1990s, BAT decided to grow our business by focusing solely on tobacco a decision which regularized and transformed the Group. In 1995, BAT set itself the credible vision of regaining leadership of the global tobacco industry and established a strategy to get there. In this section summarises the key elements of BATNLs strategy which group believes can enable it to continually build a sustainable business in tobacco industry. Ultimate Strategic Aim Achieve Leadership of the Tobacco Industry BATNLs vision is to achieve leadership of the tobacco industry in order to create long term shareholder value. Leadership is not an end in itself, but a company that leads its industry, is the preferred partner for key stakeholders and is seen to have a sustainable business, should be valued more highly. Company defines leadership in both a quantitative and qualitative sense. Punitively, it seeks volume leadership among our international competitors and in the longer term, value leadership. BATNL recognises that its success will depend on adult consumers and that, therefore, we must be consumer driven.   But the hard, quantitative measures do not in themselves address all the things it must do as a company. Taking a long term view, focusing on the quality of its business and how it work. As a result, qualitatively, company seeks to be recognised as industry leaders and to be the partner of first choice for governments, NGOs, investors and potential employees. BATNL pledges to do this by continuing to demonstrate that it is a responsible tobacco Group, with a sustainable business, outstanding people and superior products.  Ã‚   In order to deliver company vision, BATNLs strategy for creating shareholder value has four elements Growth, Productivity, Responsibility and Winning Organisation. 1.2 Component Parts to achieve Ultimate Strategic Aim 1.2.1- Winning Organisation: To deliver company vision it must have the right people and the right working environment. That is the essence of BATNLs Winning Organisation strategy. By the right people, group mean outstanding people those with the ability and desire to drive and deliver competitive advantage and superior performance. Company endeavour to attract, develop and retain high calibre talent. BATNL also puts emphasis on making it an organisation that is constantly learning. This learning culture shares knowledge quickly, learns from its mistakes and replicates success formulas quickly. To be a winning organisation British American Tobacco must also be a great place to work. This requires an open, confident culture that encourages change and innovation, is shaped by companys Guiding Principles, inspiring its people to perform to their best and importantly, enjoy their work. Finally, Winning Organisation strategy requires that company develops leaders, at all levels in the organisation, with a clear vision for the business, who foster innovation, and can align, energise and enable their teams to contribute to the building of our global enterprise (B) Growth: BATNL seek to increase its volume and value share of the West African tobacco market through both organic growth and mergers and acquisitions. For organic growth, company is concentrating on the key strategic segments of the market that offer the best prospects for long term growth, including Premium and International Brands. BATNL continues to focus on the growth of its Global Drive Brands as well as being prepared to exploit opportunities for profitable volume growth in Value for Money and Low Price Segments.   Company also wish to sustain or develop strong positions in priority markets simply defined as the largest and most profitable ones. BATNL believes that it is important to continue to develop and utilise innovative, differentiated products and to offer its consumers added value from its brands. (C) Productivity: BATs overall approach to productivity is about using its global resources to increase profits and generate funds for reinvesting in its business. Today, all companies are trying to cut costs. BATs approach is integrated aiming to establish a lower cost base while improving the quality of products and the speed they get to the market, as well as our effectiveness in terms of how it can deploy its people and capital. As a Group BATNL is focused on its consumers, marketing is a large part of what it does and company is working to ensure it effectively and efficiently deploy its marketing resources.  Ã‚  Ã‚   In order to maintain a strong balance sheet, capital effectiveness is an important part of its productivity strategy and includes a focus on inventory levels, utilising its assets, financing and other uses of capital. (D) Responsibility: BATNL continues to balance its commercial objectives with the expectations of a broad range of stakeholders, thus ensuring a sustainable business. Company communicating with all stakeholders about its Business Principles, which explain the way we expect its businesses to be run in terms of responsibility, and demonstrating how group is following them. Companys three Business Principles, Mutual Benefit, Responsible Product Stewardship and Good Corporate Conduct are each underpinned by a number of Core Beliefs. In the regulatory arena, BAT continues to promote sensible tobacco regulation that: balances the preferences of consumers with the interests of society establishes an open minded and objective approach to harm reduction as a policy Ensures that its businesses can compete and prosper. BAT manufactures products that can be harmful to the health of its consumers and have publicly stated its aim to reduce this harm to meet both consumer needs and societal expectations. Company proposes to do this by: the progressive reduction in the tar and toxins in its products the successful launch of a new generation of tobacco products with critical mass appeal that are recognised by scientific and regulatory authorities as posing substantially reduced risks to health. 1.3. Factors Affecting the Strategic Plan 1.3.1- Contextual Environment  [1]   Nigeria gained independence in 1960 but since the first military coup in 1966, Nigeria has been ruled by military for over 35 years up until 1999. Since then democratically elected civilian governments are ruling Nigeria. Under the new constitution adopted in 1999, a strong presidency appoints a federal executive council, comprising government ministers and ministers of the state from each of Nigerias 36 states. Although the 36 governments enjoy greater autonomy than under the former military administration they remain dependent on the federal government for funding. This set up creates a system of distributed power centres, with the highest authority lying with the president, making lobbying with political powers a complicated issue. Estimated GDP for 2006 is $116.7 billion whereas economic growth rate is believed to be 5.4%. This economic performance is severely offset by high rate of inflation (8.7%). Since 1999 under the rule of Peoples Democratic Party (PDP) National Economic Empowerment and Development Strategy (NEEDS) has boosted non-oil sector growth and improved macro-economy. Increased government spending on roads and ongoing efforts to reform and attract investments into the power sector could improve infrastructure modestly. Only minimal progress is likely with port reform. Both these aspects would have a positive effect on BAT Nigerias supply chain. Corporate profits except for oil companies are taxed at 30%. VAT on tobacco product is 7.5% whereas for other commodity product its charged at 5%. In governments effort to curb smoking, promotion of cigarette sales through billboards has become illegal since January 1st 2004. Federal government is under further pressure from whom and other NGOs to put a ban on tobacco products promotion through electronic and print media. In addition, various pressure groups are raising concerns against tobacco farming as it renders land unusable for cultivation of other crops. 1.3.2- Transactional environment Nigeria has a total population of 140 million and out of these only 2.9 million adults smoke, it indicates a huge growth potential for Tobacco industry. Given the scenario, though BAT Nigeria is catering to very comprehensive range of markets and consumer segments, further avenues for increasing market penetration of companys products have been identified through various analysis. The present market size of AFS is only 14% which explicitly shows growth potential. To grow and capture this segment, requirement for development of brands targeted especially to Adult Female Smokers (AFS) is identified. On the other hand, according to strategic group analysis premium brands have a need to expand their geographical reach and increase market penetration. Super premium product line should be prevented against brand dilution and their market presence should be enhanced with the help of specialized channels of HoReCa. On critically evaluating product offerings extended by the BAT Nigeria across different segments, few potential offerings for A class, B, C and D segments  [2]  were recognized like, pipe tobacco and cigar, limited editions and flavoured and VFM brand variants, respectively. Supply chain of BAT Nigeria has a weak link in procurement part of Virginia tobacco due to limited number of international suppliers (especially from Argentina and Brazil). Whereas, local procurement of sun cured tobacco has limitations of inadequacy of land conducive to tobacco farming, partial segment of farmers involved in tobacco farming and threats from pressure groups. With recent acquisition of Gallaher Group by Japan Tobacco Inc., JTI has the second largest market share in Nigeria (14.4%), after BAT Nigeria (85.1%). Still we perceive the major threat to BAT Nigeria coming from Philip Morris Inc. (PMI). Looking at the history of PMIs entry to new markets, they capture major share of the market within 3 years, like in Benin. Though, global drive brand for PMI is Marlboro Lights, PMI is expanding its roots in Nigerian market indirectly through Kraft Foods, subsidiary of its corporate parent Altria Inc. The competitor analysis  [3]  shows that key strength of BAT Nigerias products against other competitors and especially PMI, as perceived by the customers, lies in their availability. 2. Stakeholders Influence and Progress towards Strategic Aim 2.1- Core Resources  [4]   In 2009 BAT group reported  £1896m of profit, attributable to shareholders equity. This explicitly indicates financial strength of the BAT group. As operations of BAT Nigeria are directly funded by parent corporate body, access to adequate finances, as compared with other competitors, puts BAT Nigeria in the elite club of organizations with formidable financial resources. Since BAT signed Memorandum of Understanding (MoU) in November 2000 with the federal government, it has enjoyed status of most favoured company and leveraged rapport with the government in establishing local production facilities in Zaria and Ibadan. These state of the art production units are quite unique resource to BAT Nigeria, considering that no other tobacco company has cigarette factory in Nigeria. Further, BAT Nigeria has strengthened its portfolio of core resources by investing funds and efforts in developing dedicated supply chain intermediaries. 2.2- Core Competencies  [5]   Though the MoU expired in April 2007 with end of PDP presidency, strong relationship with the government has been instrumental in developing country wide distribution network and in increasing domestic tobacco farming. BAT Nigeria has improved efficiency and integration of distribution network by implementation of SAP (ERP module) and Siebel (CRM module). Integrated electronic supply chain with local access to raw material is the core competence of BAT Nigeria. Under this process and with continuous efforts to exercise CSR, BAT Nigeria has developed a sound social relationship and local knowledge. Benefits of BAT Foundation have been exploited to meet these strategic requirements. Apart from these local factors, BAT Nigeria has benefited from legacy and technological expertise of parent. Thus, process evolved quality of BAT products is been key source of competency. 3.1: Futuristic Strategic Position: Way to Sustainable Competitive Advantage  [6]   After analysing contextual transactional environment, core resources and competencies of BAT Nigeria, I propose an option which comprises of recommendations for strengthening upstream and downstream supply chain  [7]  , capacity utilisation, developing Nigeria as export hub to west African countries and exploiting BAT foundation in mutually beneficial way (to BAT Nigeria and stakeholders), in order to provide BAT Nigeria with a sustainable competitive advantage. While suggesting the options compatibility, suitability, acceptability and feasibility of recommendations with BAT Nigerias current business model and low exposure to risk has been considered. Production of international brands of Premium and VFM cigarettes is based on Virginia tobacco imported from Argentina and Brazil. Reliance of production of international Super premium, Premium and VFM brands on foreign suppliers subjects upstream supply chain to political, economical and ecological factors evolving in exporting nations. To counter power vested in international suppliers and remove raw material quantitative bottleneck, supplier base of Virginia tobacco should be increased by importing the same quality Virginia from alternative source countries like Cuba, Mexico, Puerto Rico and Venezuela. Tobacco export being major trade activity of these countries, international tobacco trade regulations are quite liberal and no major hurdle could be seen in setting up trade channels. Geographic location of alternative source nations would not impose any significant extra freight charges. For local brands of VFM cigarettes cultivation of sun cured tobacco needs to be increased. In this process, firstly, BATNL should lobby with the government to pass Land Use Decree, to facilitate farmers in gaining possession of land. Secondly, with ownership of land and providing the farming community with help in taking mortgage loans, latest farming technologies and better tobacco seeds, farmers can be driven to come in a legal two way contract with BAT Nigeria, in regard to secure local cultivation and supply of sun cured tobacco and promising buying guarantee in return. 3.2: Justifying the strategic option As analysed by competitor analysis, in consumers perception, apart from poor availability, value offered by PMIs products is at par or better than that of BATs products. Thus, to sustain BATNLs existing system of dominance, it is of paramount concern to have a wide, efficient, dedicated and controlled distribution network. Apart from strategic tie-ups with Global Brand Nigeria Ltd. (GBNL) and Global Apex Ltd., downstream members of distribution channel need to be integrated with electronic distribution platform of SAP and Siebel (CRM). Financial and technological assistant to channel intermediaries in this regard would benefit BATNL in two ways: higher channel control efficiency and financial binding of down stream channel members to BATNL. The SWOT analysis  [8]  highlighted that BATNLs current practice of cash sales is its Achilles heel. To prevent competitors from breaking logistics net of BATNL, BATNL would have to forgo privilege of cash sales and start giving credit facili ties to wholesalers and distributors. Further, and as underpinned by mobility barriers  [9]  analysis, to hold on to market share as high as 85.1%, the premium brands are the key and should be pushed deep into nation with associated promotional activities and rewards/rebates attributed to selling channel. At the same time, super premium brands should be prevented against brand dilution and their image of brand ambassadors should be continued further. For proliferation of super premium brand products, upmarket specialised HoReCa  [10]  channel showed substantial potential for growth. The current problem of low co-operation from HoReCa owners, realising the dependency of BATNL on them for promotional purposes, can be overcome by offering them half yearly or annual contract of brand association, instead of event based approach. To motivate rural small-holder Nigerian farmers interest in the tobacco farming and business with BATNL, BATN Foundation needs to concentrate on issues pertaining to lack of access to modern agricultural machineries, training on new agricultural practices and innovations, production credit, fair and transparent marketing opportunities. Currently, both local production facilities are not utilized up to their full capacities, partly due to relatively less demand in comparison with full production capacity and rest due to bottlenecks in supplies of raw tobacco. Together with improvement in the supply of raw tobacco (international and local), developing Nigeria as export hub to cater neighbouring West and Central African countries would assist BATNL in building up sustainable competitive advantage by gaining economies of scale (capacity utilization), and becoming regional power in tobacco industry. Appendix 1 EMBED PowerPoint.Slide.8 Appendix 2 Appendix 3 Appendix 4 Appendix 5 Appendix 6 Appendix 7 Appendix 8 Appendix 9 Appendix 10

Deregulation Of Downstream Oil And Gas

Deregulation Of Downstream Oil And Gas It is largely assumed by Nigerians that the government involvement in the management and ownership structure of the refineries and logistics infrastructures is the cause of the numerous problems associated with the downstream oil and gas industry. Thus, the government economic reforms by way of deregulation policy was established in 2003 to revive the ailing industry. This dissertation seeks to examine the deregulation of the downstream oil and gas industry in Nigeria, a strategic management perspective of the effects, challenges and prospects. The objective of this study is to have both theoretical and practical knowledge contribution on deregulation. This study theoretical framework is embedded in three literatures: deregulation, strategic management and competitive forces. These three perspective are used in order to assess the emerging effects, challenges and prospects that the industry has on the changing strategic landscape of the deregulation exercise. The literature for this perspective, competitive forces and innovation management were reviewed: The reason for this perspective is that the competitive forces provides the understanding of the industry structure and the interactions between competitors, while innovative management is to understand the industry processes and capabilities. By summarizing and integrating these viewpoints formed a hypothesized understanding that reflected the effects, challenges and prospects of deregulation. In order to obtain an empirical analysis of the study a social constructed research methodology that is based on quantitative and qualitative method were argued for. A non-probability sample approach with a dichotomous questionnaire of (YES/NO) was self-administered in three states Abuja, Lagos and Port Harcourt to represent the three geographical areas in Nigeria, the target population of fifty persons from each state was chosen using purposive sampling method. Furthermore, an open-ended questionnaire were self-administered on two managers from Forth Oil, One Manager from Oando Plc and One Manger from Total Plc. The managers views were sort in order have industry professionals opinion on the deregulation of the downstream oil and gas industry. The data collected were analysed with the use of SPSS to determine the effects, challenges and prospects of the deregulation of the downstream industry. A Porters five model was also utilised to analyse the competitiveness in the industry. The result of the analysis shows how firms within the downstream oil and gas industry have changed and responded towards deregulation. It further shows how the previous regulated regime of the downstream oil and gas industry has been transformed to become more competitive and market driven. The analysed result shows a slim margin between the (yes/no) responses on the effects and challenges of deregulation, while there was a significant margin on the response in favour of the prospects and opportunities of downstream oil and gas deregulation. Overall, the result shows that many Nigerians are in support that deregulation will deliver positive effects, reduce the challenges in in the industry and also create better prospects and opportunities. The study findings indicates that the downstream oil and gas industry is not fully deregulated to enable market forces of demand and supply to determine product price, rather government have been fixing petroleum product prices. Most of the industry challenges are still persistent, like fuel scarcity, corruption, smuggling, and ineffective refinery. Thus, the expected benefit as promised by the government is yet to be achieved. However, based on the overall response of the respondent, this study can infer that many Nigerians support the government deregulation of the downstream oil and gas industry. CHAPTER ONE 1 INTRODUCTION 1.1 BACKGROUND The advent of deregulation reform dates back to 1973 after the first oil shock experience, which led to a decline in the economic growth of most developed economies Nordhaus, Houthakker and Sachs (1980); Sachs (1982) and labour productivity growth Baily, Gordon, Solow (1981). Further to the mid-1970s productivity decline, a wide range of policy responses, including economic deregulation were introduced. The inception of deregulation reform was initiated in the US Winston (1998); Morgan (2004), while the UK and other developed economies followed in the early 1980s Pera, (1988); Healey (1990); Matthews, Minford, Nickell and Helpman (1987). The reform was also copied by the new democracies and many developing countries in the 1990s leading to wide range of labour, capital and product market reforms. This was the scenario that prevailed throughout the early 21st century Wolfl, Wanner, Kozluk and Nicoletti (2009) until the global economic and financial crisis determined the credibility o f relaxing economic growth. Like many other developing countries that copied the market reform, Nigeria being a growing economy with an increase in demand for commodities such as petroleum products Nwokeji (2007) meeting the supply needs remains a big challenge due to frequent breakdown of the refineries and over-reliance on importation. Although prior to 1960s the downstream oil and gas sector was initially market driven with the mechanism of demand and supply determining product price Funsho (2004). The distribution and marketing of petroleum product was virtually controlled by the multinational oil and gas companies Jean (2012). This was the situation before the government decided to harmonise petroleum products by way of uniform pricing in 1973 to encourage even distribution of products nationwide Christopher and Adepoju (2012). In furtherance to the uniform price policy and also tackle the cost differential problem associated with the delivery of products to every part of the country, the government establ ished the Petroleum Equalization Fund (PEF) Oluwole (2004). The participation of government in the management and ownership structure of the downstream sector culminated to a regulated regime Olumide (2011). The consequence of the policy shift by the government on the economy was characterized by acute product scarcity, hoarding, smuggling, adulteration; long queues, inappropriate pricing, under funding and monopolistic practices. This were the main features of the supply and distribution process of the downstream oil and gas industry Funsho (2004). The unhealthy development degenerated to poor performance of the nation refineries, which resulted in excessive dependence on imports Christopher and Adepoju (2012). Thus, the economic reforms of the government became imperative towards reviving the ailing downstream sector by way of deregulation Okafor(2004). The deregulation of the sector as implemented in 2003 implies removal of restrictions on the establishment of refineries, jetties and depots. It also involves granting free access to private sector participation in the importation of petroleum products and also allowing the demand and supply mechanism to determine price including also the government total removal of control on product prices Oluwole (2004). Furthermore, the objective is meant to achieve regular supply of petroleum products at reasonable price, maintaining self-sufficiency in refining, employment generation for Nigerians, growth in foreign investment and general economic growth. Onyishi, Emeh, and Ikechukwu (2012). Other major benefits are as indicated in figure 1 below: Figure : BENEFITS OF DEREGULATION OF DOWNSTREAM OIL AND GAS SECTOR Removal of subsidy burden Government refocus to segment regulator Competition on and a level play field to attract new entrant DEREGULATION Increased efficiency by service providers Eliminate sharp practices that exploit subsidy regime From the foregoing many years have passed after deregulation, yet the aforementioned problems still persist, refineries continue to operate below installed capacity Oladele (1997). Efficient transport system for product distribution is lacking while pipeline are still vandalized. The expected government responses by private sector investment in establishing new refineries after many years of issuance of licence is yet to be realized. This scenario is in contrast to the objective of deregulation as commenced in the USA in the 1970s which was to create competition, enhance industry efficiency and guarantee competitive prices DME (2007) ; Hicks (2004). Improving efficiency in the industry implies product availability, proper functioning of the distribution networks, availability of storage facilities and depots to avoid scarcity of products and to ensure regular supply of products to force down price. However with the lack of these facilities the intending benefit from deregulation of the downstream oil and gas sector by the Nigerian populace becomes defeated. The question now is why should government proceed with deregulation policy? Thus, this dissertation seeks to examine a strategic management perspective of the effects, challenges and prospects of the deregulation of the downstream oil and gas industry in Nigeria. The theoretical framework of this study dwells on three literature reviews: deregulation, strategic management and competitive forces. This three perspectives are utilized to assess the emerging effects, challenges and prospects of the deregulation exercise in the oil and gas industry. The study analyses the literatu re for this perspectives, competitive forces and innovation management in the context of deregulation. 1.2 PURPOSE OF THE STUDY The purpose of this study is to appraise the deregulation exercise that was carried out in the Nigerian downstream oil and gas industry. The specific aim of this study are as follows: To examine the implementation of deregulation policy in the downstream oil and gas industry in order to determine the effects, challenges and prospects. This study is also aimed to explore if deregulation has actually yielded the desired result in terms of the forces of demand and supply determining prices of product. This study further uses the Porters five model to establish if effective strategic management (innovative management and competitive forces) can achieve a sustained competitive advantage among industry competitors in the deregulated regime. 1.2 RELEVANCE OF THE STUDY This study is relevant in many ways; apart from the downstream sector importance in Nigeria economic stability other relevance includes the following: As already stated, this study would use a Porters five competitive forces to analyse the attractiveness of the industry. This will inform us of the impact of deregulation on new entrants, competitive rivalry, buyers bargaining powers, suppliers power, products prices, product supply and distribution. The study would conduct a survey to know the feelings of Nigerians on the effects, challenges and prospects of the deregulation of the downstream industry. The study would also contribute to existing literature on deregulation thereby providing insight of current developments in the downstream oil and gas industry in Nigeria. Furthermore, the study would also serve as an important tool for students, academia, institutions and individuals to consult for knowledge on deregulation of the downstream sector of the Nigerian oil and gas industry. 1.3 RESEARCH QUESTIONS In finding out the effects, challenges and prospects of the deregulation of downstream oil and gas industry in Nigeria, this study answers three questions: How can government improve the implementation of the deregulation of the downstream oil and gas industry to achieve the actual policy objective? In what way can government encourage the private sector to fully participate in the downstream oil and gas deregulation exercise? What informed the government deregulation of the downstream oil and gas industry and if it is the only solution in an economic environment such as Nigeria? 1.4 ORGANISATION OF THE STUDY This study contains six chapters. The first chapter is the introduction and background of the study, the purpose of the research, significance of the study, the objectives of the study, the research questions, this would guide the study. Chapter two would present the literature review on the subject matter. Chapter three gives the theoretical framework of the study. The methodology to be adopted in the study would be stated in chapter four. Chapter five focuses on the presentation of data, analysis of collected data, findings and discussion of results. The last chapter which is chapter six, would present the conclusion and appropriate recommendations. CHAPTER TWO 2.0 LITERATURE REVIEW Many existing literature have argued on different perspectives and motives for the government deregulation of the oil and gas sector in Nigeria yielding different opinions from two school of thought. The opposing and the supporting group respectively. Those supporting deregulation argue that deregulation of the downstream oil and gas industry would actualize government move to eradicate fuel scarcity and ensure constant fuel supply across the country Funsho (2004). Similarly, deregulation of the industry would create inflow of foreign investment while persistent smuggling of petroleum products and inefficiencies in the sector will be eliminated Oluwole (2004). They also posit that Nigeria has the lowest price of petroleum products in the world and with deregulation the international market equilibrium would allow government to channel funds to other sectors of the economy. Furthermore, they argued that it would break the monopoly enjoyed by the Nigerian National Petroleum Corporation (NNPC) Okafor (2004). Essentially, deregulation would lead to uninterrupted operation of the refineries, it would also guarantee steady supply by enabling stakeholders and independent marketers to participate in product importation and marketing Enemoh (2004). Their view is also that the regulated regime by way of subsidy is a way of government enriching few Nigerian petroleum products marketers Oluwole (2004). Findings from Abu (2012) indicates that Nigerians believes deregulation and privatization will usher in sustainable development and would be a blessing rather than a course. Odey (2011) recommends the complete deregulation of the downstream sector to reduce corruption, inaccurate record keeping, inefficiency, smuggling and insufficient product supply. Jean (2012) suggested that making deregulation work involves providing an enabling environment and framework for efficient production, supply and distribution. Braide (2003) recommends that the usual business as usual in the NNPC by way of product imp ortation and distribution is inexpedient because it represents a wrong step for government to continue with instead government should fully deregulate the downstream oil and gas sector. From the opposing group came the argument that the Nigeria petroleum industry must not be deregulated completely, instead government should maintain the status quo and restructure the sector to improve efficiency for the overall national interest. They opined that the root cause and clamour for deregulation is because of the massive corruption in the sector and therefore should be tackled rather than embarking on deregulation. They further argued that deregulation helps increase profit margin for the importers, interestingly this is the position of the labour union and the organized civil society. Furthermore, Amana and Amana (2011) asserts that the fair distribution of economic benefits derived from petroleum has proven elusive and therefore predicts same for deregulation. Ibanga (2011) argued that removal of subsidy may cause dislocation to the gas price because of high demand and inadequate supply. Bafor (2001) doubted government sustaining the gain of deregulation due to the undu e interference in NNPC affair resulting to near collapse and dismal performance which encouraged the clamour for the privatisation and deregulation. According to Kikeri and Nellis (2004) they argued that deregulation processes and institutions must be combined with appropriate competition policies and regulatory frameworks without which the gains of deregulation can be eroded by harsh impact on consumers and the overall economy affected due to inadequate product supply. Matthew and Fidelis (2003) opined that the merit of deregulation can only be enjoyed by Nigerians if only they could be genuine attention to eliminating corruption in the sector. Adagba, Ugwu and Eme (2012) posits that government is merely taxing the poor to subsidise the life of the rich. Similarly, Akpanuko and Ayandele (2012) argues that government is not transparent in its drive to transform the economy and suggested reduction in the cost of governance, rehabilitating the refineries as a measure to drive the economy. In global perspective, the theoretical argument behind the large scale deregulation reforms initiated in the late 1970s is two-fold. On one hand, deregulation reduces the rents that regulation creates for workers, incumbent producers, and service providers. This view has gained a widespread popularity among academics and policy makers ever since the works by Stigler (1971); Posner (1975) and Peltzman (1976) contributed to the understanding of the political economy of regulation. On the other hand, deregulation allows the newly created competition on product, labour and capital markets to determine the winner of rent transfers. Thus, by spurring productivity and efficiency gains Winston, (1993), economic deregulation ultimately contributes to the overall increase in economic growth. The additional growth is brought primarily through increased employment and real wages Blanchard Giavazzi (2003), which impacts both production and consumption and through increased investment Alesina, Ardagna, Nicoletti, Schiantarelli (2005), this affects the capital stock in the economy. However, a need for caution is required on the recent take on the efficiency gains from deregulation in the developing world. The key argument in this new area of literature is that deregulation reforms influence diverse economies differently, depending on their position on the technology level and on their quality of institutions. For example, Acemoglu, Aghion and Zilibotti (2006) claim that certain restrictions on competition may benefit the technologically backward countries, while Estache and Wren-Lewis (2009) finds that ideal regulatory policies in developed and in developing countries are different because of differences in the overall institutional quality in those countries. In addition, Aghion, Alesina and Trebbi (2007) use industry level data to demonstrate that within each economy, institutional reforms influence different industries differently, and more specifically, industries closer to the technology frontier would be affected more by deregulation and would innovate more than the backward industries in order to prevent entry. As a result, countries closer to the technology frontier would benefit more from deregulation. The alleged benefits of economic deregulation in many industries prompted a debate on the growth effects from specific types of reforms on petroleum product downstream deregulation. 2.1 THEORIES OF DEREGULATION Deregulation can be looked from the angle of different theories, we have the public interest theory which presume that deregulation would occur if the market deficiency which compelled regulation in the first place were to disappear. An illustration is a change in technology which could eliminate a natural monopoly. The public interest theory also predicts that deregulation would occur if discovered that a regulatory regime which had been perceived to be in the public interest was defective. It may turn out that, in the light of experience, the cost of the regulatory apparatus is or has become greater than the loss resulting from the market imperfection it was designed to correct Posner (1974). Thus, it may become obvious only with experience that entry restrictions is a relatively costly way to enforce standards. From Stigler Peltzman came the version of the special interest theory which suggests that a number of factors which may give rise to deregulation. First, a reduction in the cost consumers must incur in order to inform themselves regarding the effect of regulation on them. For example, price comparisons between regulated and non-regulated controls can assist consumers in estimating the effect of regulation on the prices they pay. Secondly, as product substitutes increases between regulated and non-regulated products, this would reduce profits and hence the urge to lobby for regulation induced price increases. Substitution may also occur between regulated and unregulated industries or between regulated and unregulated controls. Thirdly, a change in industry structure can reduce either the incentive or the ability to lobby for regulation. Also, an increase in the number of firms in an industry or a merging of their respective interests may increase the incentive to free ride and make it more costly to organize support for politicians promising regulatory benefits Stigler (1974). Noll and Owen (1983) argue that, over time, the beneficiaries of regulation will grow while groups that lose will contract. In view of the interest group structure, alternative for substitutes and information, McCormick et al. (1984) offer two reasons why the incentive to regulate is greater than the incentive to deregulate. The first is that the cost of seeking regulation may be as much as the present value of the anticipated wealth transfer involved, and if this cost is sunk it is not recoverable in the event of deregulation. The question is does Nigeria have a theory of deregulation? although the public and special interest theories of deregulation had slightly been criticized for the vagueness regarding transactions in policy frameworks and political markets. In the case of Nigeria the evidence on deregulation supports both the public and special interest theories. The two of them are in the same range, deregulation is used by government to effect wealth transfers through privatization. These transfers may benefit the highly concentrated special interest groups, such as petroleum product marketers and politicians. They may also benefit larger groups, like the deregulation of telecom industry. For the public interest group, government most times come up with reforms and policy frame work aimed at benefiting the masses, but often hijacked by the cabals who may want to exploit government programme to their own benefit. An example is the issue of oil subsidy which the original government intention was for p ublic interest, but was later hijacked by special interest groups or cabals. 2.2 COUNTRY EXPERIENCES ON DEREGULATION 2.2.1 ARGENTINA The Menem administration introduced deregulation in Argentina. The country underwent heavy economic deregulation, privatization and had a fixed exchange rate between (1989-1999). The resulting effects of Argentina deregulation exercise lead to the comparing of Enron with Argentina by Krugman (2001), asserting that they were both experiencing economic collapse due to excessive deregulation. However the claim by Krugman was termed as confusing correlation with causation, as neither the collapse was due to excessive deregulation Herbert (2002). He argued that if deregulation of the Argentine economy produced prosperity for years, how could it generate collapse within a few months? The answer is not deregulation but excessive loans. 2.2.2 AUSTRALIA Deregulation in Australia commenced with the Minimum Effective Regulation in 1986 following the announcement by the Labour Prime Minister Bob Hawke of a wide range of deregulatory policies. The introduction of the policy, which is now a familiar requirements for regulatory impact statements, took many years for governmental agencies to comply with. Although wider competition policy reforms had commenced, during the 1980s trade policy reform which substantially increased competition in the domestic economy Smith (2001). In this regard the level of assistance to manufacturing sector was reduced from 25 percent to 15 percent of the value of manufacturing output between 1981-82 and 1991-92. They was reductions in import barriers, which off course exposed many industries to the rigours of international competition, providing increased incentives to improve product quality, costs and innovation. 2.2.3 CANADA The deregulation of natural gas in Canada took place in the mid 1980s, with exception of Atlantic provinces, Vancouver Island and Medicine Hat, the whole of the country natural gas was deregulated. A price comparison service is operating in some of these jurisdictions, particularly Ontario, Alberta and BC. The other provinces are small markets and have not attracted suppliers. Customers have the choice of purchasing from a local distribution company (LDC) or a deregulated supplier. In most provinces the LDC is not allowed to offer a term contract, just a variable price based on the spot market. LDC prices are changed either monthly or quarterly. 2.2.4 UNITED KINGDOM The conservative government of Margaret Thatcher started a program of deregulation and privatization in 1979, where the conservative government criticised many public enterprises, including CEGB, for being too inflexible, bureaucratic and out of political control. As a remedy the government suggested deregulation and privatisation Foster (1993) ; Newbery and Green (1996). In response, the policy framework was enacted which included the express coach Transport Act 1980, British Telecom 1984, privatization of London Bus services 1984, local bus services Transport Acts 1985 and the railways 1993. The common feature of all the privatisations was the offering of the shares to the general public. In support of the policy since 1997 the Labour governments of Tony Blair and Gordon Brown developed a programme of better deregulation. This included a general programme for government departments to review, simplify or abolish their existing regulations, and introduced approach to new regulations . 2.2.5 NEW ZEALAND The New Zealand governments adopted policies of extensive deregulation from 1984 to 1995. Originally initiated by the Fourth Labour Government of New Zealand Dalziel (2010). The goal of the policy was liberalising the economy and had a comprehensive coverage and innovations. The major specific polices included: establishing an independent reserve bank; floating the exchange rate; public sector finance reform based on accrual accounting; performance contracts for senior civil servants; tax neutrality; subsidy-free agriculture; and industry neutral competition regulation. The introduction led to Economic growth in 1991. New Zealand was changed from a somewhat closed and centrally controlled economy to one of the most open economies in the OECD Evans, Grimes, Wilkinson (1996). 2.2.6 UNITED STATES Many industries in the United States became regulated by the federal government in the late 19th and early 20th century. Entry to some markets was restricted to stimulate and protect the initial investment of private companies into infrastructure to provide public services, such as water, electric and communications utilities. However in the 1970s among the problems that encouraged deregulation was the way in which the regulated industries often controlled the government regulatory agencies, using them to serve the industries interests. In the energy industry the Emergency Petroleum Act was a regulating law, consisting of a mix of regulations and deregulation, which passed in response to OPEC price hikes and domestic price controls which effected the 1973 oil crisis in the United States. After adoption of this federal legislation, numerous state legislation known as Natural Gas Choice programs have sprung up in several states which allow residential and small volume natural gas users to comparison purchase from natural gas suppliers, aside with traditional utility companies. 2.3 CONCEPT OF DEREGULATION Deregulation refers to a situation whereby they is a restrictive use of the states legal power to direct the conduct of private actors Stigler (1971). Deregulation programme is focused primarily on the withdrawal of economic interest of government apparatus. It is also the reduction of government regulation of business, consumers and market activity Economic glossary (2013). Similarly deregulation according to Webster dictionary is the act or process of removing state deregulations, it is the opposite of regulation which implies the process of government regulating certain activities. In the perspective of Kimberly (2013) deregulation is when the government seeks to allow more competition in an industry that allows near-monopolies. From the view of Ernest and Young (1988) deregulation and privatization are elements of economic reform programmes charge with the goal of improving the overall economy in a structured process. Essentially in an economic perspective deregulation implies freedom from government control Innocent and Charles (2011), while Akinwumi et al (2005) asserts that deregulation is the removal of government interference in running a system. By implication, the normal regulatory rules and enforcement in managing the operation of a system is replaced with market force of demand and supply to be a determinant of price Ajayi and Ekundayo (2008). In the opinion of Wolak (2005) he sees deregulation as the removal of control by government on natural monopolies in order to exercise market power. Where for example in US regulation generally held natural monopolies to a specified rate of return basis for pricing products Rothwell and Gomez (2003). Deregulation introduced free market principles and competition into these natural monopolies Hirsch (1999); Kahn (2004); Novarro and Shames (2003); Rassenti, Smith and Wilson (2002) and created the frame breaking changes. The deregulation of downstream oil and gas industry is the loosening of government control over the industry. It is a way of breaking the monopoly in NNPC in order to pave way for healthy competition. This implies the introduction of free market system, where the forces of demand and supply are allowed to determine the market price of products PPPRA (2004). This formula is in contrast to the regulated regime, where government acting on existing laws controls and determine retail and wholesale prices of petroleum products. A regulated regime is characterised by low level of competition and investment leading to distortions in product supply and distribution, scarcity resulting to long queues, hording, smuggling and other bottlenecks such as monopolistic practices, existence of subsidy and poor maintenance of infrastructural facilities Funsho (2004). The structural framework of deregulation involves the following phases: (1) Liberalisation (2) Privatization and commercialization. 2.3.1 LIBERALIZATION Liberalization refers to a relaxation of the government previous restrictions, usually in areas of social or economic policy, in most context the process or concept is often, but not always referred to as deregulation Sullivan, Arthur, Sheffrin and Steven (2002). It is also the involvement of many participants in the downstream petroleum industry PPPRA (2004). Liberalization involves removing monopoly, promoting high competitive culture in the industry, product availability, ensuring fair pricing for consumer, reviving and ensuring the efficiency of the refineries Oluwole (2004). Liberalization also ensures the removal of oil subsidy, which robs the poor to pay the rich PPPRA (2004). Liberalization is aimed to generate add

Animal Farm: Communism Through The Eyes Of George Orwell Essay examples

Animal Farm: Communism Through The Eyes of George Orwell Throughout history, writers have written about many different subjects based on their personal experiences. George Orwell was the pen name of Eric Blair. He is one of the most famous political satirists of the twentieth century. He was born in Bengal, India in 1903 to an English Civil Servant and died in 1950. He attended Eton from 1917 to 1921, and served with the Indian Imperial Police in Burma from 1922 to 1927 before moving to Europe.Two of his most famous books, Animal Farm, written in 1946, and Nineteen Eighty-Four, written in 1949, were written about the political and social environment surrounding his life. "The driving force behind his two satires is an intense revulsion against totalitarianism, combined with an even stronger revulsion against its defenders among left-wing intellectuals."1 In most of George Orwell ¹s books and essays, there is a strong autobiographical element due to the fact that he spent many years living with Communists in northern Great Britain (a small number of people started to follow Communism in northern Great Britain when it started in Russia). George Orwell ¹s writing was affected greatly by his personal beliefs about Socialism, Communism, Fascism, and Totalitarianism, and by the revolts, wars, and revolutions going on in Europe and Russia at the time of his writings. George Orwell was a Socialist2 himself, and he despised Russian Communism3, and what it stood for. Orwell shows this hatred towards Communist Russia in a letter he wrote to Victor Gollancz saying, "For quite fifteen years I have regarded that regime with plain horror."4 Orwell wrote this letter in 1947, ten years after announcing his dislike of Communism. However, he had thought a great deal about Communism and what he disliked about if for a long time before he announced it to the public. Orwell "did not expect anything good from the Communist"5 and therefore Communism personally did not affect him, but "He was concerned with it (Communism) only because it was a problem for others."6 In Animal Farm, "an animal fable satirizing Communism,"7 Orwell uses farm animals in England to satirize Russian Communism and its leaders. One animal he uses is a pig named Napoleon, whose counterpart in the Russian Revolution is Joseph Stalin. After Napoleon takes charg... ...r, Alfred G. "Marx, Karl." World Book Encyclopedia.1988 ed. Orwell, George. Nineteen Eighty-Four. New York, NY: Harcourt Brace Jovanovich, Inc., 1949 Orwell, George. Animal Farm. New York, NY: Harcourt Brace Jovanovich, Inc., 1946 Stansky, Peter and Abraham, William. Orwell: The Transformation. New York, NY: Alfred A. Knopf, Inc., 1979 Stansky,Peter. On Nineteen Eighty-Four. San Francisco, California: W.H. Freeman and Company, 1983 Wadsworth, Frank W. "Orwell, George" World Book Encyclopedia. 1988 ed. Woodcock, George. The Crystal Spirit a study of George Orwell. Boston, Massachusetts: Little, Brown and Company,1966 Voorhees, Richard J. The Paradox of George Orwell. New York, NY: Purdue Research Foundation,1961 "Stalin, Joseph." World Book Encyclopedia. 1988 ed. "Lenin, V.I." World Book Encyclopedia. 1988 ed.

Mother Daughter Relationships - Mothers and Daughters in Amy Tans The Joy Luck Club :: Joy Luck Club Essays

Mothers and Daughters in Joy Luck Club Amy Tan's novel, The Joy Luck Club, explores the relationships and experiences of four Chinese mothers and four Chinese-American daughters. The difference in upbringing of those women born during the first quarter of this century in China, and their daughters born in California, is undeniable. From the beginning of the novel, you hear Suyuan Woo tell the story of "The Joy Luck Club," a group started by some Chinese women during World War II, where "we feasted, we laughed, we played games, lost and won, we told the best stories. And each week, we could hope to be lucky. That hope was our only joy." (p. 12) Really, this was their only joy. The mothers grew up during perilous times in China. They all were taught "to desire nothing, to swallow other people's misery, to eat [their] own bitterness." (p. 241) Though not many of them grew up terribly poor, they all had a certain respect for their elders, and for life itself. These Chinese mothers were all taught to be honorable, to the point of sacrificing their own lives to keep any family members' promise. Instead of their daughters, who "can promise to come to dinner, but if she wants to watch a favorite movie on TV, she no longer has a promise" (p. 42), "To Chinese people, fourteen carats isn't real gold . . . [my bracelets] must be twenty-four carats, pure inside and out." (p. 42) Towards the end of the book, there is a definite line between the differences of the two generations. Lindo Jong, whose daughter, Waverly, doesn't even know four Chinese words, describes the complete difference and incompatibility of the two worlds she tried to connect for her daughter, American circumstances and Chinese character. She explains that there is no lasting shame in being born in America, and that as a minority you are the first in line for scholarships. Most importantly, she notes that "In America, nobody says you have to keep the circumstances somebody else gives you." (p. 289) Living in America, it was easy for Waverly to accept American circumstances, to grow up as any other American citizen. As a Chinese mother, though, she also wanted her daughter to learn the importance of Chinese character. She tried to teach her Chinese-American daughter "How to obey parents and listen to your mother's mind.

Oedipus Complex in Hamlet

Oedipus Complex in Hamlet In Shakespeare’s Hamlet, Hamlet’s personality can be explained by the Oedipus Complex. Throughout the play there are many times where he proves that he has Oedipus Complex. Oedipus Complex was not around at the time that that Hamlet was written. It just shows that Shakespeare saw the same personality complex’ as Freud. Freud first named the Oedipus Complex Theory in his book , An Interpretation of Dreams, in 1899. Freud states â€Å"The child takes both of its parents, and more particularly one of them, as the object of its erotic wishes. Freud explains that it is normal to have sexual desires for the parent of the opposite sex. These are normal in children and usually dissipate after the age of five. When these sexual desires do not go away and they continue into adulthood this is when someone would be considered to have an Oedipus Complex. When there is a sexual desire for the mother, as Hamlet did, a rivalry is formed between the fat her and the son. Hamlet’s father is in a form of a ghost, that only he can communicate with. He was murdered while Hamlet was away at school. When he returns he finds his mother, Gertrude, remarried to his father’s brother Claudius.This infuriates Hamlet, and brings out his repressed Oedipus Complex. This drives Hamlet crazy. He is consumed and outraged by this incestuous marriage. Now I use the word incestuous because in those days it was considered incest to marry your husband’s brother. What needs to be explained is exactly what Hamlet it is upset over. It is to be assumed that he is outraged because Claudius has replaced his own father’s place next to his mother. This is not the case. Hamlet is upset because Claudius has taken his place next to his mother. Hamlet’s deepest wish is to be king and his mother, Gertrude, queen.Thus proving the Oedipus Complex theory further. Children will have feeling of hate toward the parent of the same sex this theory states. Hamlet has many hateful tendencies towards both of his fathers, Hamlet, the Prince of Denmark, and Claudius. We know from reading the play that Hamlet’s father was not affectionate or spend any quality time with him. He spent a lot of time at war. Although he had anger towards him, he could never show it. He repressed it. For Claudius on the other hand, Hamlet’s feelings of hatred are expressed much more openly. Hamlet internally fights with his feelings towards Claudius.His father has come to him as a ghost, telling him that Claudius is responsible for his murder. Hamlet must avenge his father, but struggles to do so. Subconsciously, Hamlet identifies with Claudius. Hamlet envies Claudius for killing his father and taking his position next to Gertrude. This is everything Hamlet has subconsciously wanted to do. So in essence he cannot kill Claudius because, in part, he would be killing himself. Hamlet is consumed with thoughts of his mother having sexual relations with Claudius. A very significant part of the play is Act III Scene IV.This is where Hamlet and his mother meet in her closet. The closet is very meaningful because this signifies hiding. The bedroom is significant because this is where private situations occur. Maybe Shakespeare played out this important scene in the bedroom to show the sexual feelings Hamlet has for his mother. In this scene Hamlet confronts his mother about her relationship with Claudius. He does not come off as a son asking concerning questions towards his mother. He acts jealous while he asks her how she can stand to be touched by him. These are not normally son to mother questions.He is explicit in what he says and concentrates of her sexual acts between her and Claudius. You could explain it more as an obsession. At the end of this scene it is obvious that Hamlet is jealous of the attention Gertrude is giving Claudius. Hamlet, as a child, would have found pleasure in these feelings towards his moth er, but now it is a feeling of disgust. This further proves the Oedipus Complex Theory. Hamlet is so consumed with his mother’s relationship with Claudius. He in turns shows similar feelings towards Ophelia. He toys with her emotions as he feels Gertrude toys with his.Throughout the play Hamlet is struggling with his repressed feelings towards his mother, his hatred for his fathers, and avenging his father. The same reason he could never act out on his hatred for his father is the same reason he must avenge him. It is his moral code. He struggles with avenging his father though because he is so focused on the incestuous relationship between his mother and Claudius. He can’t truly avenge his father until Gertrude dies. At that time the Oedipus Complex is released and he is able to carry out his duties and kill Claudius.

Accounting fraud Essay

Accounting fraud can be defined as knowingly falsifying accounting records in order to increase sales revenue and net income. Accounting fraud is committed in corporations by means of showing false information, using funds for illegal purposes or inflate expenses, overstating revenues, understating expenses or overstating the value of corporate assets. All these activities are entirely unethical. Behaving ethically depends on the capability to recongnize the ethical issues and to believe on their existence. This ability to respond ethically at workplace related more to attributes of corporate culture than to attributes of individual employee Individuals often fail to realise their moral obligations at work and by being subject to world’s temptation fails to tread on their set ethical standards and behave unethically. People especially of todays generation are so much engrossed in their own different criterias of their lives that they almost forget to confine themselves to ethi cal boundaries that is why ethical decisions are always difficult to make and its foundation is based on several factors however if we talk about the decision by considering moral philosophies of a person; that depends on whether the person is making a work-related decision or personal-life decision. See more: Basic Economic problem of Scarcity Essay A person in the business sector might view of the problem by thinking differently beacause of the outside force and under the work pressure. However, the same decision might be unacceptable to him outside the work. The second reason of people changing moral philosophies could be the corporate culture where they work. Rules and personalities of a business culture person eventually effects on the person and exerts pressure to conform to the firm’s culture. Edward Hall (1959), described culture as a silent language, and defines it as â€Å"that part of man’s behavior which he takes for granted, the part he doesn’t think about, since he assumes it is universal or regards it as idiosyncratic.† Geert Hofstede (1993) defined it as â€Å"the collective programming of the mind which distinguishes one group or category of people from another.† (P.489) A culture followed in corporate or on industrial level is known as Meso- culture and every organisation has t heir own set agendas regarding ethics because work ethics plays a pivotal role at work place to rein employees to behave ethically and keeping into account the ethical dimensions. In most of the organizations, there are set rules and policies specifically formulated to make ethical environment. Every  organization has a culture which mainly comes from the side of upper management and the rest of the employees follows the set trends and culture of their own corporate sectors. The culture of the organization varies from organization to organization because of the different perceptions of the chief executive officers (CEO) and the Board of Directors (BOD). Individuals in practical lives tend to take decisions according to their own moral values and set standards however, in business it changes and is quite the other way round. People get pressurised often and take decisions whatever is percieved as right or wrong in their surroundings and also choose on producing the greatest benefits with least harm. Individuals cannot simply enforce their personal perspective, though they are responsible for their actions but the idea of middle- management or entry level employee to have the freedom to take decision on their own at the work place is unrealistic.For example, if an employee can attract more customers by giving bribe to someone in the business, his decision would rely on whether complying with company policy or requirements is an important motivation to the individual or not. So for that purpose, according to Drake and Drake (1988), â€Å" there is a necessity for the development of training programmes to implement corporate values. These programmes must explain the ethical and legal principles to the employees and show practical examples which can be used as a guidance.† (p.111) Thus, the set principles and policies regarding work ethics in an organization and in addition to that the training programs can guide, govern or direct the employees to follow ethics and helps in institutionalizing organizations. According to ethics consultant David Gebler, â€Å" Most unethical behaviour is not done for personal gain, it’s done to meet performance goals†. Mostly people are of the view that individual moral philosophies plays main role for the ethical behaviour in business. Although moral philosophies learned through family, religion and education are important but it is only one factor which helps in decision making; it is not sufficient to prevent ethical misconduct especially in the business sector. Studies show that the reward for meeting performances and the corporate culture are the main drive rs in ethical decision making because the companies have a life of their own and the individuals working in the company are transcended by its corporate culture and with the passage of time, these patterened activities become instituionalized within the  organization. Peer influence also effects to some extent in the decision making; employees can be lulled by each other in making unethical decisions or when facing with ethical dilemmas nonetheless, everything still surrounds around the corporate culture and its strict policies for the ethical behaviour because when the policies will be strict, every employee would strive hard for the performance goal. If I fit myself in a situation where I can easily inflate my account on company’s expenses, I would be swayed by the company’s culture. I might not even think of committing any fraud or inflate the expense on company’s account, if the company is strict in its policies. But at times, it also depends on an individual moral values of a person in taking decision which is transmitted normally from families. According to my vantage point, individual moral development for taking a decision is a secondary factor; what drives first instantly to the person to behave ethically is the corpo rate culture since a company cannot rely on every individual to behave ethically on their own. â€Å"They can’t just stand in front of people and say they want them to have a good attitude and be excited,† says Pecos River president Elizabeth Wilson. Taking decision in practical life and in work life differs. People in their work lives are driven by some targets and goals which are triggered in them by the organisation where they work and that effects on their performance. Similarly, when they take decision in their work lives , they are not driven by their own values, the company’s formulated culture effects their decision making. Nevertheless, if a person takes any decision without any concern or reflecting on the ethical dimensions; these sort of misbehaviours are referred to as â€Å"unethical business practices† (eg Garrett et al.,1989; Giacalone and Jurkiewicz, 2003 ; King, 1986).According to Murphy (1989), â€Å"Ethics should be followed in corporate sectors in the form of corporate creed and ethical code. The former establishes the organisational ethical values whereas the latter is a specific set of guidelines which must be developed in all functional areas of the firm.† To conclude, business ethics plays a pivotal role in developing a corporate culture. Although, all the implementation of principles and ethics is a bit difficult procedure but it impacts on the employees in the organisation in higher degree and rein them from involving in unethical activities. â€Å"It is obvious that in principle individuals are more ethical if a corporation has a written, formal code and  less ethical otherwise.† (Vitell et al.,1993,p.336). Hence, according to Vitell, the idea of a formal written code for ethics works well in corporate sector. In addition, moral values of an individual which are mainly effected by religion, personal cognitive approach, family, beliefs, education et cetera also plays an important role in preventing the employees in taking any unethical decision, however, it is only a secondary factor for an employee has a performance goal in his mind while working and the decision forms according to a corporate culture and the ethics followed in organizations since a company cannot rely on individuals individually to have e thical standards and beliefs. For that purpose , there is a necessity of a corporate culture which work as the main driver to act ethically in a work- place and in situations related to corporate sector. REFERENCES: Arunchand, C H; Ramanathan, Hareesh N. Organizational Culture and Employee Morale: A Public Sector Enterprise Experience, Journal of Strategic Human Resource Management2.1 (2013): 1-8. 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Meyers., J, Becker :1989 Issues Management and Organizational accounts: An analysis of Corporate responses to Accusations of Unethical Business Practices, Journal of Business Ethics 8 (7), 507- 520, Retrieved from Proquest Database, viewed 6 May,14 Geert, H., Bond, M. H., & Luk, C. L. (1993). Individual Perceptions of Organizational Cultures. Organization Studies, 14(4), pp. 483-503. Retrieved from Proquest Database, viewed 11 may,14 Hall, E.T. (1959). The Silent Language, New York: Doubleday Lincoln, D., M. M. Pressey and T. Little: 1982, ‘Ethical Beliefs and Personal Values of Top Level Executives’, Journal of Business Research (10), 475–487 Murphy Herta A., Effective Business Communication (7th Edition), Herbert W. Hildebrandt , Mc Graw- Hill. Nakano, Chiaki. Asian Business & Management, suppl. Special Issue: Japanese Business & Society in a Global Age6.2 (Jun 2007): 163-178. The Significance and limitations of Corporate Governance from the perspective of Business Ethics: Towards the Creation of an Ethical Organizational Culture, Retrieved from Proquest Database, viewed on 10 May, 14. Vitell, S. J., et al, (1993), ‘Marketing Norms: The influence of personal moral philosophies and organizational ethical culture’ Journal of the academy of marketing science 21 (4), 331-337, Retrieved from Proquest Database, Viewed on 12 May,14. Yallapragada, RamMohan R.; Roe, C. William; Toma, Alfred G.: Accounting fraud and white collar crimes in the US, Journal of Business Case Studies8.2 (2012): 187. Retrieved from Proquest Database, Viewed on 7 May,14.