Custom,cheap Essay Writing Service Usa

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Custom,cheap Essay Writing Service Usa

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David Ricardo s Theory Of Comparative Advantage - 1504 Words

David Ricardo is a well-known economist who found it hard to make his big break in the field of economics. He created the â€Å"Theory of Comparative Advantage†, or free international trade. His ideas he had were hard for people to grasp, and understand at the time, and even today. Over his career, he encountered some struggles, but he kept doing what he thought was right, and fair, and in the end he was successful. David Ricardo was born in London in 1772. He grew up in a large family with more than 10 brothers and sisters. His parents were Jewish immigrants who settled in England. His dad made a successful career for himself, and for his family. He was a stockbroker. Ricardo was sort of drawn into the business, because his dad had the business. Ricardo was fourteen when he entered the market with his dad. When he married he went a different path than the one his family would of liked for him to have. He chooses to marry a Quaker. After the marriage tension arose, causing him to have to leave his family. Ricardo still had a lump some of money, so he used it to expand his education. He didn’t just spend time learning about the political economy. He took time to study other important subjects like math, reading, and science. During this time he became interested in Adam Smith’s â€Å"Wealth of Nations†, and this inspired him to write his own pamphlets named â€Å"The High Price of Bullion†, a â€Å"Proof of the Depreciation of Bank Notes†. Which became very popular in 1810. The benefit ofShow MoreRelatedDavid Ricardo : Comparative Advantage1397 Words   |  6 PagesDavid Ricardo; Comparative Advantage David Ricardo, a British political economist was born on April 18, 1772 in London, England. He was the third child of seventeen in a Sephardic Jewish family who originated from Portugal and had recently emigrated from the Dutch Republic. At the age of fourteen, Ricardo began to work with his father, Abraham Ricardo, who was a famous stockbroker. When Ricardo was twenty-one years of age, he ran off and got married with Priscilla Anne Wilkinson, a Quaker, and becameRead MoreDifferent Theories Concepts Of International Trade Theories1697 Words   |  7 Pagesthis paper, the author will examine, and categorizes the differences between different theory concepts of international trade theories. The author will analysis and seriously assess their believe concepts and believe. The author of this assignment agrees with the economist that international trade is the interdependence of nations in terms of trade. International trade theories are basically different theories, with their concept o f trade how they explain international trade. The concept of majorityRead MoreInternational Trade Theories, Trade, Cultural Diffusion, And Economic Trade Theory1374 Words   |  6 Pagesanalyze, and identify differences between the basic and base concept of international trade theories. The author will examine and critically assess the concept of international trade. This paper agrees with the economist that international trade is the interdependence of nations in terms of trade, cultural diffusion, and economic interdependency. International business trade theories are basically different theories with their concept of trade how they explain international trade. The concept of majorityRead MoreA Systematic Theory Of Population Theory1611 Words   |  7 PagesAccording to the Economic Thought textbook the summary of Malthus Population Theory deals with the misery and poverty among the lower classes of every nations. Thomas Robert Malthus was the first economist to propose a system atic theory of population. He states that a population when unchecked leads to population grow exponentially (i.e., doubling with each cycle) while food production grows at an arithmetic rate (i.e. by the repeated addition of a uniform increment in each uniform interval of time)Read MoreMajor Trade Theories888 Words   |  4 PagesTrade theories Introduction The concept of absolute advantage is one of the most fundamental areas of concern in the study of economics. In its basic meaning, absolute advantage refers to the ability of one individual or party to produce more of a particular good or service than other competitors given the same amount of resources. In this regard, absolute advantage becomes a very important aspect in the concept of international trade as it clearly defines the different areas where countries shouldRead MoreThe Trade beyond Borders2297 Words   |  9 Pagesvarious theories, policies and business strategies that make up international trade. The trade theories have a central place in the analysis of economics and are what actually underpins the free trade doctrine. Free trade doctrines have long and fascinating history all over the world. This paper will therefore look at the origin of comparative advantage and how it affects international trade. It will further analyze the theories by Ricardo and Heckscher and O hlin and explain why comparative advantageRead MoreChapter 56435 Words   |  26 Pagesdiscredited doctrine E. It still influences many governments 4. The theory of __________ was advanced by Adam Smith. A. absolute advantage B. capitalism C. similar opportunity D. mercantilism E. comparative advantage 5. Which of the following international trade scholars was the first to explain why unrestricted free trade is beneficial to a country? A. Adam Smith B. Bertil Ohlin C. Eli Heckscher D. Paul Krugman E. David Ricardo 6. __________ refers to a situation where a government does not attemptRead MoreEconomic Theories Of International Free Trade Essay2137 Words   |  9 PagesThroughout the centuries of economic theories, there have always been major disagreements amongst economists. Each believing their theory provides a better explanation or solution to the economic situations the globe finds itself in. The anomaly to these disagreements is the theory, first introduced by Adam Smith, which states that international free trade is in the best interest of the trading countries and the ever globalizing world as a whole. This essay shall compare the views of the great economists;Read More Challenging Comparative Advantage Essay1410 Words   |  6 PagesComparative advantage is a principle developed by David Ricardo in the early 19th century to explain the benefits of mutual trade (Carbaugh, 2008). Many underlying assumptions of comparative advantage depend on states of economic equilibrium and an absen ce of economy of scale. In reality, economies are dynamic and subject to innovation and interference; which has led to revised assumptions of return and competition (Krugman, 1987). These factors have created questions of free trade and governmentalRead MoreInternational Trade : Comparative And Competitive Advantage1512 Words   |  7 Pages International trade theories are simply theories that explain how imports and exports work between different countries. Hence the name international trade. In this paper I will be reviewing different theories of international trade, explain the difference between comparative and competitive advantages, and answering three important questions. What the underlying economic rationale for international business activity is, why trade takes place, and the gains from trade and investment. I will first

The Australian organization with the Effective Implementation

Questions: 1. Identify and critically analyse and discuss the communication challenges that a leader would expect to encounter in relation to the cultural diversity of many Australian organisations. (you also need to give example of any australian organisation in term of how they face communication challanges) 2. Critically discuss how leaders can address the ethical issues related to the cultural diversity in many Australian organisations.( you also need to give exmaple of any ethical issues faced by australian organisation.) 3. Identify, synthesise and critically discuss an optimal mix of leadership styles/behaviours which would be aligned with managing culturally diverse workplaces; these should be sufficiently flexible, and able to be appropriately adopted in Australian organisations.(you also need to provide one example based on leadership style/behaviour in any australian organisation.). Answers: Introduction: Australia is known for its diverse cultural workforce. The organizational behavior and culture are equally important regarding organizational success. It helps the organization to enhance and maintain the communications within the workplace which helps in further development of the business as a whole. However, culture varies at the workplace and thus it may sometimes lead to conflicts. The rise of issues and conflicts also led to degradation of the communication and ethics which affects the work culture as a whole. Moreover, the organizational behavior is utmost important as the business emerges more towards the multigenerational and diverse culture (Hersey Blanchard, 2012). The workforce may sometimes also get influenced through diverse labour power which needs the implementation of organizational behavior within the organization. Organizational behavior also helps in the improvement of the team work and thus helps the organization to gain the competitive advantage in the market. Organizational behavior also led the leadership which further led the organization towards the strategic business objectives. Thus, it helps the business to gain the competitive advantage which helps in the improvement of the communication as well between the employees within the workplace. Organizational Behavior also gets influenced by separate personalities of an employee which further affects the productivity of the business. The Virgin Australia Airlines has been operating in Australia since last few years and for achieving the success ladder, the organization has also adopted changes and implemented strategies towards the operating environment (McShane Von Glinow, 2012). Virgin Australia is rapidly growing and thus leading as the second domestic carrier in Australia. Thus, Virgin Australia maintains a strategic tool to maintain an organizational behavior within the workplace and thus helps in motivating more employees within the business as a whole. The motivational factor al so helps the organization to provide the best service towards the customers and thus increases the profit margin of the organization. This further adds value to the organization and helps in gaining sustainability as well in the competitive market. Communication Challenges: Management within an organization implements strategic tools to develop culturally diverse workplace within Virgin Australian Airlines. The leaders within the organization face several challenges to managing the diverse workforce. Thus, the organization needs to face certain challenges that include: Diversity in culture Virgin Australia Airlines is facing certain issues regarding the diversity in culture within the workplace. The diverse cultural people primarily try to carry out their own norms and take things in their things only at the right way. This led to the dispute among the team members as they consider their individual norms and culture to be universally valued. This led to miscommunication between the management and thus affected the organizational diverse culture (Fox et al., 2012). The misunderstanding thus affects the organizational culture and also helps in improving the work culture as well. Nationality Identity The nationality identity within the workplace affects the effectiveness of communication. Different nationality means the varied cultures and languages. Varied cultures led to varied thought process and personalities which stand as a challenge for the leaders within Virgin Australia Airlines to manage the workforces as a whole. The national identity also led to carry forward individual sentiments and norms which may sometimes affect the effective communication within the workplace (Boiral Paill, 2012). This also led towards losing the employee motivation as well. The regional differences led to the cultural gaps as well which further affects the culture of the organization and thus includes as a challenge for the management towards the employees within the business. Ethnicity Identity Ethnicity identity also contributes to a major proportion of the communication challenges. The ethnic identity creates a gap between the people which led to further miscommunication in the organization. The miscommunication also led to the misunderstanding of information which creates a gap for the management as well in the organization (Easterby et al., 2012). The ethnicity needs to be taken into the serious note to improve the transparency in communication between the management within the organization. The ethnicity sometimes also may refer to the common religion, culture and history which also prove to stand as a challenge for the communication towards leaders in managing the diverse culture within the organization. The ethnicity also helps the employees to improve the individual identity and helps the organization towards the development in the present trending scenario. Language Language is also regarded as the most vital part in improving the communication skill in the organization. The language is a common bridge between the employees and the management which help the organization to evaluate and analyze the issues within the workplace and helps in improving the organization as a whole. The Language also sometimes proves to be a solution for any misunderstanding or conflicts within the organization (Vaccaro et al., 2012). In critical situations, languages may stand as a constraint for the employees with Virgin Australia Airlines. The same word may prove to be sometimes different meanings which also affect the productivity of the employee within the workplace. However, at times misunderstanding is also created due to people of varied cultures communicate with different languages which seek to need help by translated tool. This results in cost affectivity and thus affects the communication skills of employees within the business (Bouhafs et al., 20 12). Thus, to improve the intercultural communication the language need to be taken into serious account towards organizational success. Community Community also proves to be the challenge for the business to sustain in the market. The community also proves to be varied regarding socio-political and social cultural activities which also affect the communication and transparency within Virgin Australia Airlines as a whole. The active role and responsibilities of communication are to shape the personalities of the employees and thus help in improving the organizational behavior as well. The community also helps in improving the knowledge among the employees of the organization and helps in improving the social interaction process as well. Thus, it helps the organization more towards the ladder of success and improves the communication factor as well. Thus, it also helps in the sustainability of the organization in the market (Eslami Gharakhani, 2012). The communication thus proves to be beneficial for the organization to achieve the objectives and success which helps in influencing more customers towards the business. The business thus faces several challenges regarding communication which need to be improved to gain more customers towards the organizational service as well. The communication challenge stands as a constraint for business in the present trending market (Bratton Gold, 2012). Ethical issues: Development of business globalisation and improved economic interdependency Virgin Australia Airlines face certain challenges in the workplace to manage the diverse workforce altogether. The dynamic and competitive market also stands as a challenge for Virgin Australia Airlines to compete in the present marketing trend (Caroline Martins Meyer, 2012). Ethics is considered as attitudes or personality of individual within workplace towards colleagues, management and the organization as a whole. The organizational success also depends on the implementation of effective strategy by the leaders of the business as well. Thus, the various factors that influence the ethical issues within the organization include: Leadership and commitment Leadership and commitment play an important role in controlling the ethical management within the organization. The top management within Virgin Australia Airlines is responsible for the maintaining the ethics within the business and thus provides effective organizational behavior within the business as a whole. Code of Conduct The lack of written conduct affects the productivity and efficiency of the organization as the employees decide their rightful action as per their choice which hinders the skills of an organization in the market (Sita Nirmala Kumaraswamy Chitale, 2012). The leaders of Virgin Australia Airlines need to implement t effective strategy which helps the business to bind the employees with rules and regulations and helps the business to increase the growth rate of the company. Thus, the ethical conduct helps the leaders within the business to manage the diverse workforce and helps in the profitability of the organization in the market. Miscommunication Miscommunication led towards the failure of ethical communication within the organization. This also leads towards the disputes within the workplace which affect the workforce towards improved productivity as well. The absence of transparency between the management and the employees led towards disrupting the environment and thus lowers the rate of profitability of the organization in the market. Communication thus adds value towards the organizational success and development (Ting-Toomey Chung, 2012). The leader within Virgin Australia Airlines creates a transparent communication to improve and develop a health relation between the management and the employee as a whole. The organization thus improves the communication skill and helps the organization towards sustainability in the market. Trust Leaders within Virgin Australia Airlines implements the effective strategy to gain the trust of loyal employees within the organization and helps in the growth of the company as well. The trust is regarded as an important factor for the improvement of the workforce in the organization (Macnamara Zerfass, 2012). Trust is considered to be important for transformational leadership which adds value towards the organizational success as a whole. Fostering of trust management and abolishing of abusive practice led the business towards increasing the quality of production. The trust management also helps in retaining the employees more towards the organization and helps in the development of the company in the trending market. Training The training program helps the business to improve the skills of the employees within the workplace and thus help the leaders and the management to handle diverse cultures as well. The training also helps the management to improve the thought process of the varied employees which help to manage the diverse culture as well. The training program also helps in the development of the rate of productivity that further led Virgin Australia Airlines to gain sustainability in the trending market. The training thus helps the organization to improve the workplace condition and thus help in retaining employees more towards the workplace (Hersey Blanchard, 2012). Reward and Recognition The reward and recognition of the employee help to led Virgin Australia Airlines towards success ladder. The recognition system also helps to influence the employees and act as motivating factors towards the business (Eagly et al., 2012). The Leaders and the management within the organization also need to keep up their commitment to gain positive outcome of the ethical environment and helps in gaining competitive advantage as well. The ethical system also helps in balancing the workforce and the managerial issue towards organizational success. The ethics management helps in the organizational success and also helps in the improvement of the employee relations as well in the business (Day Antonakis, 2012). The employee relations thus improve the work culture and increase in the quality of the production of the business as a whole. This helps the organization in achieving the aims and thus also helps in managing the diverse culture as well. The leaders and the management within the organization thus implement effective strategies and manage the ethical issues within the organization as a whole. Appropriate leadership models/styles: The Australian organization Virgin Australia Airlines thus implements various effective strategies that help in the development of the organizational structure and also helps in the effective organizational behavior in the organization as a whole. The leadership styles thus include: Traditional Styles: Autocratic Leadership The autocratic leadership within Virgin Australia Airlines helps the employees to create a transparency with the management which help the organization to gain more loyal employees towards the organizational success (Lam et al., 2012). The Autocratic leadership also helps the organization to bind the employees with certain riles that might also help the business to gain sustainability with increased quality of production within the business. Democratic Leadership Democratic leadership helps the business to share the organizational profitability and responsibility. It also helps the organization towards the seeking advice from the subordinates a well which further helps to motivate and encourage more employees within the organization as a whole. This helps the organization to satisfy the employees which further results in customer satisfaction as well. This also helps in the expansion of the market (Wilson, 2013). Laissez Faire Leadership The Laissez Faire Leadership style is popularly known as the hands off style which helps in providing help and guiding the employees within the organization. The employees under this leadership can enjoy a freedom of right within the workplace which helps in leading the organization towards gaining competitive advantage (Chaudhry Javed, 2012). This style of leadership also influences the employees within the workplace to determine their own objective which helps to increase the rate and quality of production of the business in the competitive market. However, the managers find it easy to manage the diverse culture of Virgin Australia Airlines through motivating more employees towards the organizational success and thus add value towards the organizational brand as a whole. Modern Style of Leadership: Transformational Leadership The transformational leadership helps the business to grow the passion and enthusiasm of the employees within the business and helps in the development of the organization. This model also helps the organization towards achieving the am and vision of the organization which helps in improving the work culture of the business as a whole. Transformational strategy or leadership helps Virgin Australia Airlines towards achieving the passionate people more towards the organization and also helps in the development of the organization as a whole. This helps the organization also towards the success in the competitive market and helps in gaining sustainability in the trending market as well. The transformational leadership also helps in influencing the thought process and beliefs and ideologies of the employee which further help the management and the leaders to manage the diverse culture in the organization (Lowell, 2012). The transfo rmational leadership also helps in improving the skills of the employees which further helps in increasing the rate of profitability of the organization as a whole. It also helps to inspire employees more towards the organization and helps to achieve their individual success which consequently will contribute towards the organizational success. The Transformational leadership style also helps in formulation and designing of projects that helps in changing the working environment and also helps in undertaking risk analysis as well. Charismatic Leadership - Charismatic Leadership helps Virgin Australia Airlines to satisfy the need of the employees within the organization and helps in the improvement of the productivity of the organization (Gerber et al., 2012). The leaders with the implementation of the effective leadership help the organization to gain respect and trust and also analyze the risk factor as well. The diverse culture within the business gets help by the leadership style to analyze the various moods of the varied culture people operating within the workplace. The leadership style helps the organization in implementing the effective strategy that helps to improve the skills and performance of the employee which further helps in improving the organizational behavior within the business. The values of the charismatic leadership help in changing the workforce and helps in managing the dispute as well at the time of crisis. The charismatic leadership helps in the alteration of the organization which hel ps the business towards success rate in the competitive market. Transactional leadership The diverse cultured organization need to manage tactfully to retain its position along with the employee satisfaction as a whole. The Transactional leadership provides responsibilities to the employees within the business as per the benefits and salaries provided to the employees (Snell, 2013). The employee needs to complete the task assigned to them as per the requirement. Thus, this style of leadership helps Virgin Australia Airlines to gain more employees within the organization and also help in improving and increasing the rate of productivity of the business in the competitive market. Participative Leadership The participative style helps Virgin Australia Airlines to involve the employees within the workplace to take the necessary decision regarding the prevailing issues within the business. The leadership style also helps in involving the stakeholders, superiors and peer groups in decision making and led the business more towards improving the organizational behavior in comparison to the trending market (Rue et al., 2012). Servant Leadership The Servant leadership style helps the leaders of the business to held responsibilities towards employees within the organization as well. The leadership style is responsible enough to carry out the organization towards improvement and also help the employee develop individually within the business (Thiel et al., 2012). This leadership model is a natural tool towards the organization success. However, the style of leadership is pretty based on an assumption that might be changed by the employee or the leader as per the need of Virgin Australia Airlines. Visionary Leadership Style The visionary leadership style helps the business to improve the performance of the employee and thus led the business towards gaining competitive advantage. The leaders with an implementation of this style of leadership help in managing the diverse culture and further increase the profitability rate of the organization as a whole. This also helps the company towards the improvement of the employee performance and helps in the organizational success (Snell, 2013). This leadership style helps the employee within the business to face their challenges courageously and helps in the sustainability of the company in the trending market. Conclusion: The Australian organization with the effective implementation of the various strategies helps the company to gain competitive advantage. The organization with the effective implementation of the strategies help Virgin Australia Airlines to motivate more employees within the workplace and also helps in gaining loyal employees within the organization. The organization also with the improved quality of production gains customer satisfaction as well towards the organizational service as well. Thus, the implementation of various effective leadership style and approaches helps the business to manage the diverse culture within the workplace. The effective strategy regarding the communication skill also helps to develop a transparent, communicative bridge towards the management and the employees and help to avoid any dispute within the workplace. This helps the company towards increasing the productivity and profitability of the company as well in the market. The effective implementation of the ethical management also helps the organization towards managing the workforce. It also helps in managing the varied ideologies and thoughts of the employees which further help a leader to manage the diverse culture within the organization as a whole. This also helps the organization to gain competitive advantage and thus help in gaining sustainability in the competitive market. Reference List: Boiral, O., Paill, P. (2012). Organizational citizenship behaviour for the environment: Measurement and validation.Journal of business ethics,109(4), 431-445. Bouhafs, F., Mackay, M., Merabti, M. (2012). Links to the future: Communication requirements and challenges in the smart grid.Power and Energy Magazine, IEEE,10(1), 24-32. Bratton, J., Gold, J. (2012).Human resource management: theory and practice. Palgrave Macmillan. Caroline Martins, E., Meyer, H. W. (2012). Organizational and behavioral factors that influence knowledge retention.Journal of Knowledge Management,16(1), 77-96. Chaudhry, A. Q., Javed, H. (2012). Impact of transactional and laissez faire leadership style on motivation.International Journal of Business and Social Science,3(7). Day, D. V., Antonakis, J. (2012).The nature of leadership. Sage. Eagly, A. H., Johannesen-Schmidt, M. C., Van Engen, M. L. (2003). Transformational, transactional, and laissez-faire leadership styles: a meta-analysis comparing women and men.Psychological bulletin,129(4), 569. Easterby-Smith, M., Thorpe, R., Jackson, P. R. (2012).Management research. Sage. Eslami, J., Gharakhani, D. (2012). Organizational commitment and job satisfaction.ARPN Journal of Science and Technology,2(2), 85-91. Fox, S., Spector, P. E., Goh, A., Bruursema, K., Kessler, S. R. (2012). The deviant citizen: Measuring potential positive relations between counterproductive work behaviour and organizational citizenship behaviour.Journal of Occupational and Organizational Psychology,85(1), 199-220. Gerber, P. D., Nel, P. S., Van Dyk, P. S. (2012).Human resources management. Southern Book Publishers. Hersey, P., Blanchard, K. H. (2012). Leadership style: Attitudes and behaviors. Hersey, P., Blanchard, K. H. (2012).Management of organizational behavior: Utilizing human resources. Prentice-Hall, Inc. Lam, C. S., O'Higgins, E. R. (2012). Enhancing employee outcomes: The interrelated influences of managers' emotional intelligence and leadership style.Leadership and Organization Development Journal,33(2), 149-174. Lowell, J. (2012). Managers and moral dissonance: Self justification as a big threat to ethical management?.Journal of business ethics,105(1), 17-25. Macnamara, J., Zerfass, A. (2012). Social media communication in organizations: The challenges of balancing openness, strategy, and management.International Journal of Strategic Communication,6(4), 287-308. McShane, S., Von Glinow, M. (2012).Organizational behavior. McGraw-Hill Higher Education. Rue, L., Byars, L., Ibrahim, N. (2012).Management: Skills Application. McGraw-Hill Higher Education. Sita Nirmala Kumaraswamy, K., Chitale, C. M. (2012). Collaborative knowledge sharing strategy to enhance organizational learning.Journal of Management Development,31(3), 308-322. Snell, R. S. (2013). Developing skills for ethical management. Thiel, C. E., Bagdasarov, Z., Harkrider, L., Johnson, J. F., Mumford, M. D. (2012). Leader ethical decision-making in organizations: Strategies for sensemaking.Journal of Business Ethics,107(1), 49-64. Ting-Toomey, S., Chung, L. C. (2012).Understanding intercultural communication. New York, NY: Oxford University Press. Vaccaro, I. G., Jansen, J. J., Van Den Bosch, F. A., Volberda, H. W. (2012). Management innovation and leadership: The moderating role of organizational size.Journal of Management Studies,49(1), 28-51. Wilson, F. M. (2013).Organizational behaviour and work: a critical introduction. Oxford University Press.

International Trade and Supply Chain The Foster Group Example

Abstract One of the effects of globalization is that traditional business processes are now opening up to attain a global nature. Supply chains, production lines and markets are now interlinked through a worldwide network of interdependency.Advertising We will write a custom essay sample on International Trade and Supply Chain: The Foster Group Example specifically for you for only $16.05 $11/page Learn More In fact, it is almost unfathomable that a company seeking to expand its net worth can ignore the global business market entirely without recourse to any of the factors of production, supply and marketing. This research paper particularly looks at the various issues that arise when a company has an international supply chain. It finds that doing business at a global level has various challenges which threaten the smooth flow of trade. The paper analyzes the Foster Group as an example of a company that has a global supply chain with the aim of understa nding the dynamics of international operations. Introduction Nagurney (2006) describes a supply chain as â€Å"a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer (p.2).† Normally, a supply chain begins from the point of initial transformation of the raw natural resource into a component that is consumable or to a degree where it can be processed to a finished product. However, the supply chain can begin from the end product where the product in question is recyclable. Supply chains are therefore value chains since the product is moved across various stages where value is added as every stage. To build a comprehensive supply chain, there must be effective management of the process. Indeed supply chain management has evolved to become a basic need for any manufacturing company. The entire management process is a concerted effort between suppliers, third parties, intermediaries or middlemen and finally, the customer. It is a complex process that interlinks the business tasks and procedures of a company to become included into a unified business network.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The key role of supply chain management is therefore the logistical activities providing smoother flow of manufacturing operations and the coordination of processes in other business functions such as product design, marketing and research. In a supply chain, the aspects of biological or ecological regulation of natural raw materials form the initial stage. From the extraction to the production and finally the transportation of the end product to the customer, the supply chain will have involved several different companies across various geographical areas. All these companies will have a substantial interest in the product and will in one way or another add value to it . While all the players in the entire chain may not necessarily know each other, each plays a crucial role. Company Profile Foster’s Group is a business venture based in Melbourne, Australia that specializes in brewing, soft drink and wine making. The group is listed as a public limited company in the Australian Securities Exchange though it has businesses across Asia, the Americas, Middle East, Africa and Europe. Currently, the group has a presence in 155 countries around the world employing over 6,000 workers (Foster’s Group Website 2011). Foster’s Limited is popular for making the internationally acclaimed Foster’s Lager and a good number of fine wines such as Rosemount, Penfolds and Lindemans. The original brewing company was founded in 1886 in Melbourne by Ralph and William Foster. The two were Americans who owned a refrigeration plant and since the Australian weather is quite hot, the plant enabled them to establish a brewery which they later sold. The brewery was acquired by Elders IXL, an Australian conglomerate in 1983 while trading as Carlton and United Breweries. Due to the Lager’s popularity, Elders rebranded to Foster’s Group in 1990. Foster’s has recently acquired the successful Australian wine company Southcorp which has helped grow its overall revenues tremendously. The Group has continued to do well and it now plans a de-merger of its wine and beer businesses to form two different companies.Advertising We will write a custom essay sample on International Trade and Supply Chain: The Foster Group Example specifically for you for only $16.05 $11/page Learn More Speculation has also been rife that the group plans to sell off its beer business, to a bigger conglomerate such as Diageo, Heineken, SAB Miller and Molson Coors. This research paper shall focus on the activities of Foster’s Group in Australia. Product profile: Foster’s Lager Foster’s Lager has been a famous international beer brand for quite some time. The amber lager of 5.0% abv is a product of the Foster’s Group based in Melbourne though it is brewed and sold under license elsewhere in the world. In Europe, the product has been quite popular due to good marketing and because it is marketed by Heineken International which is a renowned name in the beer market. The main consumers of Foster’s Lager in Europe have been the U.K, France, Germany, Portugal, Spain, Poland, Sweden, Ireland, Belgium, Greece and Ukraine. SAB Miller owns the rights to Foster’s in India and the U.S and Molson owns brewing rights in Canada. Internationally, the lager has been marketed as an Australian product with Australian accents and stereotypes being used in advertisements. This has been well received with the brand being second to Carling in the UK. However, the brand is no longer as popular in Australia as it previously was mainly due to stiff competition in the industr y and changes in consumer preferences. Nevertheless, its international success especially in Europe has helped to keep the brand alive. This paper shall look into the supply chain processes involved in brewing this product in Australia. Research methodology This research utilized both primary and secondary data collection methods. Most of the data used for the research was secondary data obtained from relevant journals, articles, books, magazines, newspapers and online resources that had information that could assist in the better understanding of supply chains especially in the international context. The data provided several authorities on the processes and functions of supply, procurement and logistics which brought in credibility and knowledge in the writing of this research report.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Parties in the supply chain The supply chain involves various parties due to the need for logistics and identifying the right suppliers. To understand who the parties in supply chain are, we must be familiar with the entire process. First, when the business decides that it needs a particular raw material or resource, its procurement department publishes a tender notice and allows suppliers to make tenders according to the established procurement process. Once tenders are placed, the company will analyze them in terms of quoted price, quantity, experience record and quality of service. The firm then decides the bid it shall accept upon which a contract is signed for the supply of the tendered commodity. In smaller businesses, tendering is not the major procurement method due to the complexities involved. Instead, the firm looks for the supplier they need by conducting their own market research. Once the supplier is identified, logistics have to be put in place to coordinate the movem ent of goods from the supplier to the company. Looking at the above process, it is clear that various parties and professions are needed. First we have the supplier who is the key party in the chain and then there is the buyer who in this case is the company. Other parties are those who offer advisory and support services to ensure that the contract between supplier and supplier is reached. These parties include procurement officers, middlemen, agents, 3rd party logisticians (3PL) and 4th party logisticians (4PL). 3PL are those logisticians who facilitate the movement of the goods from the suppliers’ warehouse to that of the customer (Murray 2005). 4PL are professional logisticians who are hired to oversee the entire logistical process including clearing and forwarding, cargo handling, customs clearing etcetera. However, it is to be noted that the term ‘logistics’ and ‘supply chain’ are not synonymous since the latter is more comprehensive as it incl udes manufacturing and procurement processes in addition to distribution. Role of the supply chain The chief role of the supply chain is to ensure that the customer’s needs are fully satisfied through; the efficient use of available resources, timely and cost-efficient distribution and proper inventory management. To be specific, supply chains look to liaise with suppliers to; reduce bottlenecks that come with supply, avail lowest cost but quality material, provide affordable and efficient transportation, maintain well-located factories and warehouses, optimize logistics to reduce the length of the supply chain and finally to implement timely techniques that improve manufacturing flow. All in all, a good supply chain should provide the customer with the right good and at the right time, location and cost. International supply chain Offshore sourcing and globalization have led to the formation of these so-called international/global supply chains. The opening of borders for tr ade has improved business by allowing consumers to obtain the cheapest and best quality products from any corner of the globe. The drive to reduce cost has actually been the major impetus for the acceptance of globalization and the aggressive manner in which business firms have opted for foreign solutions. However, the only difference between the international supply chain and the local chain is the stretching of interests and the increase of suppliers. Global supply chains involve a wide array of suppliers all offering interesting packages to the customer. However, new opportunities usually come with new challenges that have to be effectively dealt with if the company is to reap the fruits of globalization (Gray 2007). Issues of cost must be well-considered since so many factors come into play such as labour costs, freight costs, exchange rates etcetera. Another issue to be considered is the selection of suppliers through comparison of bids. Again, research is needed here since the lowest price might not necessarily mean the best bargain. The company has to appreciate that selecting suppliers from a global list is complex and must be approached with caution. In addition, the number of international suppliers must be considered since fewer are easier to manage but their come with a bigger risk in case of default. Benefits of logistics While the use of the term â€Å"logistics† in the business sense began in the late 1950s, the increase in globalized supply chains has turned the word into an entirely new business profession (Chen Paulraj 2004). Logisticians are now simplifying what was originally thought to be a complicated process-importation. Currently, businesses do not have to worry about logistics; they just furnish logisticians of what they want, where and when and then they can sit and wait for the professionals to work. Logistics go a long way in completing the supply chain and ensuring that the bureaucracies that arise out of international trad e are handled by experienced personnel (Oliver Webber 1982). Specific details on Foster Group supply chain In the brewing of Foster’s Lager, the company usually requires several raw materials. The making of a lager such as Foster’s requires hops, malted barley and water among other additives. Since the company itself does not engage in farming activities, it has to source these products from suppliers in Australia and often from suppliers abroad. According to former C.E.O Trevor O’Hoy, making a lager usually requires select skills and ingredients that have to be balanced. More often than not, Australia does not have all the ingredients needed though it produces the â€Å"pride of Ringwood hops† that provide that famous taste. Foster’s suppliers are many and each produces some unique ingredient that goes into either the wines or the beers. Most overseas suppliers are from Germany mainly due to the established culture of brewing that has been perfec ted in that country (Daniels 2000). Naturally, Foster’s Group deals with the same suppliers in its supply chain. This is because wines and beers have to be made from very specific ingredients so as to replicate the particular taste and aroma attributed to each product. Challenges Involved in International Trade Operations International trade operations come with various challenges and risks. The reason there are more challenges is that first, there is a larger number of actors to deal with before the goods finally reach the customer. Secondly, there is the lack of sound legal protection that is usually present in the local markets due to the laxity of international law and the huge costs of international litigation. However, most of the challenges are also experienced at the local level. One of the biggest challenges in international operations is the lack of security. Since the law does not provide ample protection and the parties do not meet, the business risks and insecuri ty of trade are too great. Another big problem is that which UPS Chain Supply Solutions (2005) refer to as the â€Å"Tower of Babel problem†. This is the challenge posed by dealing with persons from different cultures who speak different languages. The risk with this is that communication may become a barrier especially where the parties do not understand each other (Lee 1997). Another challenge comes in the sense that to achieve an effective international chain, there must be a concerted effort between parties which may not be easy to achieve (Ayers 2001). Lack of ownership of the supply chain sometimes leads to confusion especially where the supplier and customer have conflicting interests. Finally, we have managerial problems that arise due to non-exposure of the managerial staff to foreign audiences. In its experience, Foster’s has faced several challenges in its supply chain due to its international operations. First, the financial crisis of 2007-2008 hit the comp any had and in fact it recorded a loss due to the poor performance of its wine-making business. The exchange rate of the Australian dollar against other currencies was also quite unfavourable. While Fosters’ suppliers have been quite consistent, the rising costs of raw materials have led the company to discontinue the manufacture of certain brands (Ayers and Odegaard 2007). Recommendations Outsourcing is touted by most professionals as the solution to most of the problems that plague international operations. Instead of incurring huge tariff and shipping costs in a bid to manufacture a product, why should the company not outsource the whole manufacturing process and save overall costs? Outsourcing is the in-thing in modern-day business with entire business functions and processes being outsourced to Asian countries such as India or China where costs of manufacturing are generally low e.g. Foster’s has now outsourced its IT department to Wipro company in India. Another way to beat the challenges that come with global supply chains is to outsource the logistics. Both 3PL and 4PL are great ways to avoid the hustles of international operations. Other ingenious ways of dealing with these challenges may include; hiring of staff with international competency (Ferrer 2003), engaging in meticulous market research, looking for better local solutions first, dealing with the same ‘tested’ suppliers (Fisher 1997), avoiding excess risks where there is no background on a supplier (Steermann 2003) and finally, training staff on the needs of the international market. Conclusion From the above, we can see the issues that come with establishing international supply chains. Foster’s utilizes the global supply chain to obtain raw materials such as malted barley as well as support services such as IT. Just like any other firm, Foster’s has experienced various challenges associated with using a global supply chain such as the financial crisis , which led to increased prices of raw materials globally. However, the benefits of reliance on the global supply chain seem to outweigh the demerits judging from Foster’s success. References Ayers, J.B. (2001) Root Cause – Weak Links. Information Strategy: The Executive’s Journal, 2(1), 42-56. Ayers, J.B. and Odegaard, M.A. (2007) Know the ABCs of Retail Supply Chain Costs. Supply Chain Quarterly, 4(2), 229-243. Chen, I. J. and Paulraj, A. (2004) Towards a theory of supply chain management: the constructs and measurements. Journal of Operations Management, 22(2), 119-150. Daniels, R. (2000) Designing Great Beer. Perth: Brewers Publications. Ferrer, J. (2003) European Supply Chain Management Characteristics and Challenges. ASCET, 5, 26. Fisher, M. L. (1997). What is the right supply chain for your product? Harvard Business Review (March-April 1997), 105-116. Foster’s Group Website (2011) Overview of the Group. Web. Gray, P. (2007) Sister Act: A Makeover. New York: Fortune Small Business. Lee, H. (1997). Information distortion in a Supply Chain: The Bullwhip Effect. Management Science, 43, 4. Murray, M (2005) Selecting a Third Party Logistics (3PL) Provider. Retrieved from:  https://www.thebalancesmb.com/selecting-a-third-party-logistics-3pl-provider-2221230 . Nagurney, A. (2006) Supply Chain Network Economics: Dynamics of Prices, Flows, and Profits. London: Edward Elgar Publishing. Oliver, R.K. and Webber, M.D. (1982) Supply-chain management: logistics catches up with strategy. London: Prentice Hall. Steermann, H (2003) A practical look at CPFR: the Sears – Michelin experience. Supply Chain Management Review, July/ August 2003, 46-53. UPS Supply Chain Solutions (2005) Supply Chain Strategy: The Importance of Aligning Your Strategies. New York: United Parcel Service of America. This essay on International Trade and Supply Chain: The Foster Group Example was written and submitted by user Brianna T. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Two Hemispheres of the Brain

The Two Hemispheres of the Brain Human brain forms a comparatively small but very important part of a human being. It practically controls every action that a person performs. Consciously or subconsciously all other body organs depend on the brain to behave in any particular way. The brain is therefore a crucial organ, and if anything happens to it, the whole body will come to a stop. Notably, the brain is divided into two portions with each having various distinct roles. Nevertheless, sometimes it is very difficult to differentiate between the functions of the two theories.Advertising We will write a custom term paper sample on The Two Hemispheres of the Brain specifically for you for only $16.05 $11/page Learn More Arguably, assignments and various functions are balanced between the two parts of the brain to ensure maximum output. The two parts of the brain are known to work in close connection thus making them almost similar. Still, the functions executed by the two parts are different. To begin with, the right part of the brain conducts intuitive, subjective and holistic thinking (Luys, 2012). This means that it is bound to be random in thinking. On the other hand, the left part of the brain carries out thinking in a logical, rational and objective way. Therefore, human beings are either based towards subjectivity or objectivity depending on the part of the brain that they use most. It should be stated that the left hemisphere is responsible for actions of the right muscles. On the same note, the left hemisphere controls the sensory activities and the right motor. For example, handwriting and language are controlled by the left hemisphere. As a result, people who tend to rely more on the left brain part are usually very comfortable with language (Darvas, 2007). On the other hand, the right hemisphere controls speech and hearing processes. Therefore, people who depend more on the right side of the brain have good verbal expressions. Another difference between the t wo sides of the brain is that the left side deals with information in pieces. Once information is received, the left hemisphere will break it down and then tries to understand each bit individually. Moreover, this part of the brain will arrange the various bits of the information in a chronological manner before drawing conclusions (Annett, 2013). As a result, the left part of the brain will take a bit longer to respond to an issue. On the other hand, the right part of the brain considers any information wholesomely. Details are not given much attention and thus it starts with the answer before getting to the main problem.Advertising Looking for term paper on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More The brain can also be categorized on the way it conducts its day-to-day tasks. The right hemisphere is known for the random manner in which it executes its duties. It is carrying out many assignments at the same time. Without any form of arrangement, the right brain starts with any task but can move to the next without necessarily completing the first one. As a result, it performs a huge number of tasks in the end but not necessarily the most important ones. On the contrary, the left brain is systematic in its approach to tasks (Noite, 2008). It always has a schedule of the duties to be accomplished in their order of preference. Consequently, it completes its tasks as per its list and does so effectively. Similarly, the left hemisphere works well with symbols. As a result, letters and words do not become a problem to it. It prefers distinctions between events and characters. Therefore, working with mathematical notations is carried out by the left brain. It is also very good at memorizing and is usually tasked with the role of retrieving information whenever required. Al Ghraibe (2012) finds in his study that repetitive learning and thinking processes are based on the left part of the brain , while the right hemisphere works well with tangible materials and things that can be felt (Al Ghraibeh, 2012). This hemisphere enjoys words that form a sentence and prefers calculated mathematical examples to the notations. Linking one event to another is the way this part of the brain works and therefore connectedness of issues is better to it. This brings about the difference we see in human beings (Nunez, 2010). While there are people who read once and understand issues, others have to see pictures for them to remember well what they have learnt. On the same note, people who rely more on the left hemisphere of the brain can easily be given a formula and then do a calculation. However, people who rely more on the right hemisphere have to see calculations where formulas are used in order to understand them. When solving a problem, the two hemispheres of the brain again exhibit differences. The left hemisphere does not stop until all decisions have proof. In other words, it uses l ogic to come up with any decision. It plans and structures any problem in order to apply concrete and credible information. As a result, this part of the brain prefers multiple choice tests because then it can be able to logically come up with an answer. Not only does the left hemisphere look at the causes of any problem, but also at the effects of the same (Northoff, 2004). According to Al Ghraibeh (2012), logical intelligence is related to the left hemisphere. However, the right part of the brain is always guided by emotions in any problem-solving situation.Advertising We will write a custom term paper sample on The Two Hemispheres of the Brain specifically for you for only $16.05 $11/page Learn More It does not take into consideration what information is available but rather takes what feels like the right thing to do. Moreover, the right part of the brain does not like giving straightforward answers on any issue. So, it prefers open ended questions whic h give room for discussion. In this regard, while the left part of the brain covers talking and writing, the right hemisphere prefers drawings because they have room for manipulation. Arguably, the left part of the brain has no problems using words for expression. People who tend to rely more on the left side of the brain are good communicators and can make good orators. The conducted studies show that linguistic intelligence is influenced by the left hemisphere (Al Ghraibeh, 2012). On the other hand, the right hemisphere of the brain has a lot of difficulty explaining issues. Even when the picture is clear to this part of the brain about what should be said, getting the correct words to use is a problem. In this regard, people who use the right hemisphere easily get emotional when explaining themselves (Mildner, 2008). As a result, these people usually have to get a backup of every issue. They are highly likely to make notes of what they would like to say. Additionally, the left do minated people are more obedient to the rule in place at any scenario. They do not want to be on the wrong at any given instance. As a result, they will try to know every detail regarding the laws that are present wherever they are. Due to their fear of breaking rules, these people will always set their own rules and follow them even if they are not applicable. People whose left hemisphere dominates will always want to fit in every situation perfectly and will therefore adjust in under different circumstances (McGilChrist, 2012). On the contrary, the right part of the brain is driven by imagination and emotions. Thus, people, whose right part of the brain dominates, learn well by attaching emotions to various aspects. When they have no emotional attachment to something, it becomes difficult for them to remember it. In many instances, they do not give much thought to the repercussions of their emotional attachments. Considering various differences existing between the two hemispheres of the brain, it should be noted that they have several similarities. Notably, both parts of the brain execute their functions with a high degree of interdependency. Information like sensory observations is transmitted equally between the two hemispheres of the brain (Gazzaniga, 2000).Advertising Looking for term paper on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More In fact, it has been proved that people whose one part of the brain has been removed due to sickness usually recover and carry out their daily chores effectively. This implies that the remaining part of the brain takes up the functions of the other part. However, it should be stated that there are some differences in the way these people behave. As far as the structure of the brain is concerned, the two hemispheres are almost the same. They are also connected by nerve fibers to enhance communication between the two. References Al Ghraibeh, A. M. (2012). Brain Based Learning and its relation with Multiple Intelligences. International journal of Psychological Studies, 4(1), 103-113. Annett, M. (2013). Handedness and Brain Asymmetry: The Right Shift Theory. Oxford, England: Psychology Press. Darvas, G. (2007). Symmetry: Cultural-historical and Ontological Aspects of Science-Arts Relations; the Natural and Man-Made World in an Interdisciplinary approach. New York, NY: Springer. Gazzanig a, M. S. (2000). Cerebral Specialization and Interhemispheric Communication: Does the Corpus Callosum Enable the Human Condition? Brain Journal of Neurology, 123(7), 1293-1326. Luys, J. B. (2012). The Brain and Its Functions. Memphis, TN: General Books LLC. McGilchrist, A. (2012). The Master and His Emissary: The Divided Brain and the Making of the Western World. New Haven, CT: Yale University Press. Mildner, V. (2008). The Cognitive Neuroscience of Human Communication. New York, NY: Taylor Francis. Noite, J. (2008). The Human Brain: with Student Consult Online Access. Amsterdam, Netherlands: Elsivier Health Sciences. Northoff, G. (2004). Philosophy of the Brain: The Brain Problem. Amsterdam, Netherlands: John Benjamins Publishing. Nunez, P. L. (2010). Brain, Mind, and the Structure of Reality. Oxford, England: Oxford University Press.