Intuition forms over time. When McKinsey began publishing
the Quarterly, in 1964, a new management environment was just
beginning to take shape. On April 7 of that year, IBM announced the
System/360 mainframe, a product with breakthrough flexibility
and capability. Then on October 10, the opening ceremonies of the
Tokyo Olympic Games, the first in history to be telecast via satellite
around the planet, underscored Japan’s growing economic strength.
Finally, on December 31, the last new member of the baby-boom
generation was born.
Fifty years later, the forces symbolized by these three disconnected
events are almost unrecognizable. Technology and connectivity have
disrupted industries and transformed the lives of billions. The
world’s economic center of gravity has continued shifting from West
to East, with China taking center stage as a growth story. The
baby boomers have begun retiring, and we now talk of a demographic
drag, not a dividend, in much of the developed world and China.
We stand today on the precipice of much bigger shifts in each of these
areas, with extraordinary implications for global leaders. In the
years ahead, acceleration in the scope, scale, and economic impact of
technology will usher in a new age of artificial intelligence, con-
sumer gadgetry, instant communication, and boundless information
while shaking up business in unimaginable ways. At the same time,
the shifting locus of economic activity and dynamism, to emerging
Management intuition
for the next 50 years
The collision of technological disruption, rapid
emerging-markets growth, and widespread
aging is upending long-held assumptions that
underpin strategy setting, decision making,
and management.
Richard Dobbs, Sree Ramaswamy, Elizabeth Stephenson,
and S. Patrick Viguerie
S E P T E M B E R 2 0 1 4
22
markets and to cities within those markets, will give rise to a new
class of global competitors. Growth in emerging markets will occur
in tandem with the rapid aging of the world’s population—first in
the West and later in the emerging markets themselves—that in turn
will create a massive set of economic strains.
Any one of these shifts, on its own, would be among the largest eco-
nomic forces the global economy has ever seen. As they collide,
they will produce change so significant that much of the management
intuition that has served us in the past will become irrelevant. The
formative experiences for many of today’s senior executives came as
these forces were starting to gain steam. The world ahead will be
less benign, with more discontinuity and volatility and with long-term
charts no longer looking like smooth upward curves, long-held
assumptions giving way, and seemingly powerful business models
becoming upended. In this article, which brings together years
of research by the McKinsey Global Institute (MGI) and McKinsey’s
Strategy Practice,1 we strive to paint a picture of the road ahead, .
Today, our world is undergoing a heavily dramatic transition due to the confluence of four fundamental disruptive forces: the shifting of the locus economic activity and dynamism to emerging markets like China, the acceleration in the scope, scale, and economic impact of technology, the older human population and decline in fertility, and the degree in which the world is much more connected through trade and movements in capital, people, and information.
Although we all know these disruptions are happening, most of us fail to comprehend their full magnitude and the second and third-order efeects that will result. The world's economy's operating system is being rewritten. In this exclusive excerpt from the new book No Ordinary Disruption, its authors explain the trends reshaping the world and why leaders must adjust to a new reality.
Evaluation of technology, trade, and inclusive development: Chinese experiencesAkhilesh Chandra Prabhakar
The present study begins by surveying, broadly supports the assertion that technology, trade, sustainability and
development-led globalization is the path in the Chinese context not adequately paid to attention except with very few
original or significant contributions. This research examines the existing pattern in the areas of trade, technology,
investment with a view to locate in the development context in the era of globalization. This study also investigates
theories of trade, technology movement under capitalist paradigm along with the empirical one. The survey broadly
supports the frequent, through usually undocumented, assertion that China’s socialist market paradigm was not
different from the capitalist mode of production as tended to neglect and to which they had made few if any original or
significant contributions. Alongside, this study used secondary data and analyzed, where the results confirmed that
foreign direct investment (FDI), trade and economic growth indicated the presence of long-run sustainable equilibrium
relationship between them but created income inequality gap widely among people. It is, thus, important for
policymakers to remove obstacles and improve the respective absorptive capacity in order to reap maximized positive
inclusive development with equality basis.
Today, our world is undergoing a heavily dramatic transition due to the confluence of four fundamental disruptive forces: the shifting of the locus economic activity and dynamism to emerging markets like China, the acceleration in the scope, scale, and economic impact of technology, the older human population and decline in fertility, and the degree in which the world is much more connected through trade and movements in capital, people, and information.
Although we all know these disruptions are happening, most of us fail to comprehend their full magnitude and the second and third-order efeects that will result. The world's economy's operating system is being rewritten. In this exclusive excerpt from the new book No Ordinary Disruption, its authors explain the trends reshaping the world and why leaders must adjust to a new reality.
Evaluation of technology, trade, and inclusive development: Chinese experiencesAkhilesh Chandra Prabhakar
The present study begins by surveying, broadly supports the assertion that technology, trade, sustainability and
development-led globalization is the path in the Chinese context not adequately paid to attention except with very few
original or significant contributions. This research examines the existing pattern in the areas of trade, technology,
investment with a view to locate in the development context in the era of globalization. This study also investigates
theories of trade, technology movement under capitalist paradigm along with the empirical one. The survey broadly
supports the frequent, through usually undocumented, assertion that China’s socialist market paradigm was not
different from the capitalist mode of production as tended to neglect and to which they had made few if any original or
significant contributions. Alongside, this study used secondary data and analyzed, where the results confirmed that
foreign direct investment (FDI), trade and economic growth indicated the presence of long-run sustainable equilibrium
relationship between them but created income inequality gap widely among people. It is, thus, important for
policymakers to remove obstacles and improve the respective absorptive capacity in order to reap maximized positive
inclusive development with equality basis.
10619, 1052 AMGlobalization Is Not in RetreatPage 1 of .docxaulasnilda
10/6/19, 10:52 AMGlobalization Is Not in Retreat
Page 1 of 8https://www.foreignaffairs.com/print/1122156
Home > Globalization Is Not in Retreat
Monday, April 16, 2018 - 12:00am
Globalization Is Not in Retreat
Digital Technology and the Future of Trade
Susan Lund and Laura Tyson
SUSAN LUND is a Partner at McKinsey & Company and a leader of the McKinsey Global
Institute. LAURA TYSON is Distinguished Professor of the Graduate School at the Haas School
of Business at the University of California, Berkeley. She served as Chair of the White House
Council of Economic Advisers during the Clinton Administration.
LAURA TYSON is Distinguished Professor of the Graduate School at the Haas School of
Business at the University of California, Berkeley. She served as Chair of the White House
Council of Economic Advisers during the Clinton administration.
By many standard measures, globalization is in retreat [1]. The 2008 financial crisis and the
ensuing recession brought an end to three decades of rapid growth in the trade of goods and
services. Cross-border financial flows have fallen by two-thirds. In many countries that have
traditionally championed globalization, including the United States and the United Kingdom, the
political conversation about trade has shifted from a focus on economic benefits to concerns
about job loss, dislocation, deindustrialization, and inequality [2]. A once solid consensus that
trade is a win-win proposition has given way to zero-sum thinking and calls for higher barriers.
Since November 2008, according to the research group Global Trade Alert, the G-20 countries
have implemented more than 6,600 protectionist measures.
But that’s only part of the story. Even as its detractors erect new impediments and walk away
from free-trade agreements, globalization is in fact continuing its forward march—but along new
paths. In its previous incarnation, it was trade-based and Western-led. Today, globalization is
being driven by digital technology and is increasingly led by China and other emerging
economies. While trade predicated on global supply chains that take advantage of cheap labor is
slowing, new digital technologies mean that more actors can participate in cross-border
transactions than ever before, from small businesses to multinational corporations. And
economic leadership is shifting east and south, as the United States turns inward and the EU and
the United Kingdom negotiate a divorce [3].
10/6/19, 10:52 AMGlobalization Is Not in Retreat
Page 2 of 8https://www.foreignaffairs.com/print/1122156
In other words, globalization has not given way to deglobalization; it has simply entered a
different phase. This new era will bring economic and societal benefits, boosting innovation and
productivity, offering people unprecedented (and often free) access to information, and linking
consumers and suppliers across the world. But it will also be disruptive. After certain sectors fade
away, certain jobs will disappear, and n ...
One fact is clear: society lives, more than ever, under the auspices under the auspices and domains of science and technology. Advertising that makes about science and technology is so intense that a significant portion of people believe that they only bring only benefits to society. For man, the technology makes life easier, cleaner and longer. Man cultivates a growing dependency in relation to science and technology in contemporary era. It is a usual behavior of much of society considers science and technology as liberators of humanity of labor burdens and threats posed by the forces of nature. Adding to all this, there is a widespread view that scientific and technological progress brings not only the advancement of knowledge, but also as a real improvement, inexorable and effective in all aspects of human life. Science is not only seen as liberating, but also as dehumanizing and enslaving of human life. Uncontrolled growth of technology has contributed to destroy the vital sources of our humanity to create a culture without a moral basis. The technology has shaped our lives because we are at the mercy of interconnected systems, which is serious because we are submissive to his authority, shaping us in its functioning. The omnipresence of technology in today's world, coupled with its increased complexity, gives rise to a very problematic situation.
13112019 Globalisation 1.0 and 2.0 helped the G7. GlobalisatCicelyBourqueju
13/11/2019 Globalisation 1.0 and 2.0 helped the G7. Globalisation 3.0 helped India and China instead. What will Globalisation 4.0 do? | VOX, …
https://voxeu.org/content/globalisation-10-and-20-helped-g7-globalisation-30-helped-india-and-china-instead-what-will-globalisation-40-do 1/7
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126 A A
Related
Trade globalisation in the last two centuries
Michel Fouquin, Jules Hugot
Early globalisation and the law of one price
Mario Crucini, Gregor Smith
Challenges in the coming phase of globalisation:
A sense of déjà vu
Otaviano Canuto, José Manuel Salazar
Globalisation 1.0 and 2.0 helped the G7.
Globalisation 3.0 helped India and China instead.
What will Globalisation 4.0 do?
Richard Baldwin 21 January 2019
Richard Baldwin describes how digital technology is allowing people and companies to arbitrage large relative
price differences in wages across countries, offering an enormous export opportunity for developing nations.
Globalisation leapt forward in the late 19th century
when steam power slashed the costs of moving goods
internationally. This ‘old globalisation’ came in two
waves. Globalisation 1.0 started in 1820 and ended at
the start of WWI, and Globalisation 2.0 began after
WWII and ended around 1990.1 In between,
globalisation retreated.
Old globalisation was especially beneficial to today’s
rich nations. The G7 (France, Germany, Italy, Britain, US, Japan, and Canada) saw rapid growth of
their exports, incomes, and industry compared to today's poor nations. This led to what Kenneth
Pomeranz, a historian, calls the Great Divergence.
The G7’s share of world GDP soared from one-fifth in 1820 to two-thirds in 1988. Its share of world
trade rose to more than 50% (Figure 1). Enormous differences in income between rich and poor
nations first emerged at this time.
Figure 1 Spot the difference: Globalisations 1.0 and 2.0 (blue) and 3.0 (red)
Banking, FinTech, Big Tech:
Emerging challenges for
financial policymakers
Challenges in the digital age
The parliamentary Brexit
endgame
Live Long and
Prosper? The
Economics of
Ageing
Populations
How to improve
consumer credit
ratings
Richard Baldwin
Professor of International
Economics at The Graduate
Institute, Geneva; Founder &
Editor-in-Chief of VoxEU.org;
exPresident of CEPR
Blogs&Reviews
Creating zombies and
disinflation: A cul de sac for
accommodative monetary
policy
Acharya
The October truce on US-
China trade failed to address
subsidies
Bown, Hillman
Sense and nonsense in the
public discussion of the future
of work
Baldwin
Why the CPTPP could be the
answer to the US-China trade
war
Petri, Plummer
Randomistas rule
Beck
more
Don't Miss
Petralia, Philippon, Rice, Véron
Labhard, McAdam, Petroulakis,
Vivian
Tyson
Vox eBooks
Bloom, 14 October 2019
More eBooks ...
13112019 Globalisation 1.0 and 2.0 helped the G7. GlobalisatChantellPantoja184
13/11/2019 Globalisation 1.0 and 2.0 helped the G7. Globalisation 3.0 helped India and China instead. What will Globalisation 4.0 do? | VOX, …
https://voxeu.org/content/globalisation-10-and-20-helped-g7-globalisation-30-helped-india-and-china-instead-what-will-globalisation-40-do 1/7
Columns Video Vox VoxTalks Publications Blogs&Reviews People Debates Events About
VOX CEPR Policy Portal
Research-based policy analysis and commentary from leading economists Search
Create account | Login | Subscribe
126 A A
Related
Trade globalisation in the last two centuries
Michel Fouquin, Jules Hugot
Early globalisation and the law of one price
Mario Crucini, Gregor Smith
Challenges in the coming phase of globalisation:
A sense of déjà vu
Otaviano Canuto, José Manuel Salazar
Globalisation 1.0 and 2.0 helped the G7.
Globalisation 3.0 helped India and China instead.
What will Globalisation 4.0 do?
Richard Baldwin 21 January 2019
Richard Baldwin describes how digital technology is allowing people and companies to arbitrage large relative
price differences in wages across countries, offering an enormous export opportunity for developing nations.
Globalisation leapt forward in the late 19th century
when steam power slashed the costs of moving goods
internationally. This ‘old globalisation’ came in two
waves. Globalisation 1.0 started in 1820 and ended at
the start of WWI, and Globalisation 2.0 began after
WWII and ended around 1990.1 In between,
globalisation retreated.
Old globalisation was especially beneficial to today’s
rich nations. The G7 (France, Germany, Italy, Britain, US, Japan, and Canada) saw rapid growth of
their exports, incomes, and industry compared to today's poor nations. This led to what Kenneth
Pomeranz, a historian, calls the Great Divergence.
The G7’s share of world GDP soared from one-fifth in 1820 to two-thirds in 1988. Its share of world
trade rose to more than 50% (Figure 1). Enormous differences in income between rich and poor
nations first emerged at this time.
Figure 1 Spot the difference: Globalisations 1.0 and 2.0 (blue) and 3.0 (red)
Banking, FinTech, Big Tech:
Emerging challenges for
financial policymakers
Challenges in the digital age
The parliamentary Brexit
endgame
Live Long and
Prosper? The
Economics of
Ageing
Populations
How to improve
consumer credit
ratings
Richard Baldwin
Professor of International
Economics at The Graduate
Institute, Geneva; Founder &
Editor-in-Chief of VoxEU.org;
exPresident of CEPR
Blogs&Reviews
Creating zombies and
disinflation: A cul de sac for
accommodative monetary
policy
Acharya
The October truce on US-
China trade failed to address
subsidies
Bown, Hillman
Sense and nonsense in the
public discussion of the future
of work
Baldwin
Why the CPTPP could be the
answer to the US-China trade
war
Petri, Plummer
Randomistas rule
Beck
more
Don't Miss
Petralia, Philippon, Rice, Véron
Labhard, McAdam, Petroulakis,
Vivian
Tyson
Vox eBooks
Bloom, 14 October 2019
More eBooks ...
This is the first chapter of my book Global Marketing Strategy. It discusses the changes and new challenges that confront organisations in the 21st century market environment.
That the world of work as we have always known it is undergoing rapid metamorphosis is honestly an understatement, as the boundaries and worldview of work as currently constituted are being radically redefined at rocket speed level daily by many factors but more importantly by the unfolding Fourth Industrial Revolution (4IR). It appears that the ability of organizations, nations and societies to adapt and leverage the 4IR will determine the currency of their global relevance and the degree of sustainable development they can achieve.
The disruptive transformations that the fourth industrial revolution has brought into the contemporary global space are blurring the existing traditional boundaries in all spheres of life, enabling multifaceted convergence of multidisciplinary territories that were hitherto considered conceptually divergent.
This is a call to action for a multi-stakeholder, multidisciplinary approach to how nations particularly Nigeria can start conversations on the impact of the 4IR on work, the workplace and the workforce and how best to prepare for these disruptive impacts.
Future Outlook on Urban CompetitivenessWendy Schultz
The narrative of my 22 June 2010 presentation to the Global Innovation Forum in Seoul, sponsored by the Korea Economic Daily. Please refer to PDF of slidedeck, above.
Report | McKinsey Global Institute by:
James Manyika and Richard Dobbs are directors of the McKinsey Global Institute, where Michael Chui is a principal; Jacques Bughin is a director in McKinsey’s Brussels office; Peter Bisson is a director in the Stamford office.
Future of work An initial perspective by Andrew Curry of The Futures CompanyFuture Agenda
An initial perspective on the future of work by Andrew Curry of The Futures Company. This is the starting point for the global future agenda discussions taking place through 2015 as part of the futureagenda2.0 programme. www.futureagenda.org
IRM 3305 Risk Management Theory and PracticeFall 2014Proje.docxmariuse18nolet
IRM 3305 Risk Management Theory and Practice
Fall 2014
Project Requirements:
I. Teams
a. 16 Students split into 3 teams .
II. Weighting
a. The Project is 30% of your grade.
i. The presentation will be attended by Dr. Braniff as well as industry professionals and representatives of the National Alliance.
ii. Start divvying up duties now – last minute work shows during the presentation.
iii. Practice! Practice! Practice! - part of your grade has to do with the presentation having been rehearsed.
iv. This is a PROFESSIONAL presentation – since we’ll most likely have outsiders joining us, presenters must dress in a professional manner (no jeans, proper professional attire).
v. This presentation should mimic what you would be comfortable presenting to your board of directors and your CFO, etc.
vi. You will be graded on the information presented, as well as the professionalism of your presentation and your team assessment.
III. Project Components:
a. Executive Summary of your findings. The purpose of the executive summary is to summarize key points.
i. Should include bulleted key points
ii. Should include 1-3 graphs for visualization
iii. No more than 3 pages (including graphs)
iv. Make the summary part of the Power Point Presentation
b. Power Point Presentation
i. A visual presentation of the questions given to you for the project.
ii. Needs to show application of information learned in class, not just a regurgitation of the questions and answers, I want to see critical thinking.
iii. Presentations will occur on Monday, Nov 30 No exceptions, you MUST be present. Each group will present during this time (up to 30 minutes per group, at least 15).
iv. ALL team members must present a portion of the project.
c. All of the presentation documents need to be submitted to me. If you did not answer all
of the questions in your power point presentation, I need to receive the answers in a document.
IRM 3305 Risk Management Theory and Practice
Group Project
October 16, 2015
The Pebbles, Inc.
GENERAL
The Pebbles, Inc. (the “Company) is a casino & resort operating company based in Las Vegas, Nevada, USA. The Company’s resorts feature high-end accommodations, gaming and entertainment, convention and exhibition facilities, celebrity chef restaurants, and clubs. In the past several years, the Company has decided to add a couple of other types of businesses, the most profitable being the Spinout School of Racing in Monte Carlo and the Big Shark Surfing School in Sydney. The current primary properties are listed below:
LAS VEGAS, NEVADA
The Big Gambler Resort-Hotel-Casino
- 05/03/1999
Non-Gambler Expo & Convention Ctr.
- 02/01/2002
Pebbles Resort-Hotel-Casino
- 12/30/2007
MONTE CARLO, MONACO
Pebbles, Monte Carlo – Resort-Hotel-Casino
- 05/18/2004
Spinout School of Racing
- 06/14/2009
SYDNEY, AUSTRALIA
Pebbles, Sydney – ResortHotel-Casino
- 04/27/2010
Big Shark Surfing School
- 04/27/2014
LAS VEGAS, NEVADA.
Ironwood Company manufactures cast-iron barbeque cookware. During .docxmariuse18nolet
Ironwood Company manufactures cast-iron barbeque cookware. During a recent windstorm, it lost some of its accounting records. Ironwood has managed to reconstruct portions of its standard cost system database but is still missing a few pieces of information.
Required:
Use the information in the table to determine the unknown amounts. You may assume that Ironwood does not keep any raw material on hand.
2. Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of directlabor hours. Information from LLL's standard cost card follows:
During August, LLL had the following actual results:
Units produced and sold 24,800
Actual variable overhead $9,470
Actual direct labor hours 15,800
Required:
Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over or under applied variable overhead.
Variable Overhead Rate Variance
Variable Overhead Efficiency Variance
Variable Overhead Spending Variance
3. Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table.
Required:
Complete the table by preparing Olive's flexible budget for Rs.5,700, 7,700 and 8,700 units.
Ironwood Company manufactures cast
-
iron barbeque cookware. During a recent w
indstorm, it lost
some of its accounting records. Ironwood has managed to reconstruct portions of its standard cost
system database but is still missing a few pieces of information.
Required:
Use the information in the table to dete
r
mine the unknown amount
s. You may assume that Ironwood
does not keep any raw material on hand.
2.
Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of
directlabor hours. Information from LLL's standard cost card follows:
During August, L
LL had the following actual results:
Units produced and sold 24,800
Actual variable overhead $9,470
Actual direct labor hours 15,800
Required:
Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over or under
a
pplied variable overhead.
Variable Overhead Rate Variance
Variable Overhead
Efficiency
Variance
Variable Overhead
Spending
Variance
3.
Olive Company makes silver belt buckles. The company's master budget appears in the first column of
the table.
Required:
Ironwood Company manufactures cast-iron barbeque cookware. During a recent windstorm, it lost
some of its accounting records. Ironwood has managed to reconstruct portions of its standard cost
system database but is still missing a few pieces of information.
Required:
Use the information in the table to determine the unknown amounts. You may assume that Ironwood
does not keep any raw material on hand.
2. Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of
directlabor hours. Information from LLL's standard cost card follows:
During August, LLL had the following actual results:
Units prod.
More Related Content
Similar to Intuition forms over time. When McKinsey began publishing t.docx
10619, 1052 AMGlobalization Is Not in RetreatPage 1 of .docxaulasnilda
10/6/19, 10:52 AMGlobalization Is Not in Retreat
Page 1 of 8https://www.foreignaffairs.com/print/1122156
Home > Globalization Is Not in Retreat
Monday, April 16, 2018 - 12:00am
Globalization Is Not in Retreat
Digital Technology and the Future of Trade
Susan Lund and Laura Tyson
SUSAN LUND is a Partner at McKinsey & Company and a leader of the McKinsey Global
Institute. LAURA TYSON is Distinguished Professor of the Graduate School at the Haas School
of Business at the University of California, Berkeley. She served as Chair of the White House
Council of Economic Advisers during the Clinton Administration.
LAURA TYSON is Distinguished Professor of the Graduate School at the Haas School of
Business at the University of California, Berkeley. She served as Chair of the White House
Council of Economic Advisers during the Clinton administration.
By many standard measures, globalization is in retreat [1]. The 2008 financial crisis and the
ensuing recession brought an end to three decades of rapid growth in the trade of goods and
services. Cross-border financial flows have fallen by two-thirds. In many countries that have
traditionally championed globalization, including the United States and the United Kingdom, the
political conversation about trade has shifted from a focus on economic benefits to concerns
about job loss, dislocation, deindustrialization, and inequality [2]. A once solid consensus that
trade is a win-win proposition has given way to zero-sum thinking and calls for higher barriers.
Since November 2008, according to the research group Global Trade Alert, the G-20 countries
have implemented more than 6,600 protectionist measures.
But that’s only part of the story. Even as its detractors erect new impediments and walk away
from free-trade agreements, globalization is in fact continuing its forward march—but along new
paths. In its previous incarnation, it was trade-based and Western-led. Today, globalization is
being driven by digital technology and is increasingly led by China and other emerging
economies. While trade predicated on global supply chains that take advantage of cheap labor is
slowing, new digital technologies mean that more actors can participate in cross-border
transactions than ever before, from small businesses to multinational corporations. And
economic leadership is shifting east and south, as the United States turns inward and the EU and
the United Kingdom negotiate a divorce [3].
10/6/19, 10:52 AMGlobalization Is Not in Retreat
Page 2 of 8https://www.foreignaffairs.com/print/1122156
In other words, globalization has not given way to deglobalization; it has simply entered a
different phase. This new era will bring economic and societal benefits, boosting innovation and
productivity, offering people unprecedented (and often free) access to information, and linking
consumers and suppliers across the world. But it will also be disruptive. After certain sectors fade
away, certain jobs will disappear, and n ...
One fact is clear: society lives, more than ever, under the auspices under the auspices and domains of science and technology. Advertising that makes about science and technology is so intense that a significant portion of people believe that they only bring only benefits to society. For man, the technology makes life easier, cleaner and longer. Man cultivates a growing dependency in relation to science and technology in contemporary era. It is a usual behavior of much of society considers science and technology as liberators of humanity of labor burdens and threats posed by the forces of nature. Adding to all this, there is a widespread view that scientific and technological progress brings not only the advancement of knowledge, but also as a real improvement, inexorable and effective in all aspects of human life. Science is not only seen as liberating, but also as dehumanizing and enslaving of human life. Uncontrolled growth of technology has contributed to destroy the vital sources of our humanity to create a culture without a moral basis. The technology has shaped our lives because we are at the mercy of interconnected systems, which is serious because we are submissive to his authority, shaping us in its functioning. The omnipresence of technology in today's world, coupled with its increased complexity, gives rise to a very problematic situation.
13112019 Globalisation 1.0 and 2.0 helped the G7. GlobalisatCicelyBourqueju
13/11/2019 Globalisation 1.0 and 2.0 helped the G7. Globalisation 3.0 helped India and China instead. What will Globalisation 4.0 do? | VOX, …
https://voxeu.org/content/globalisation-10-and-20-helped-g7-globalisation-30-helped-india-and-china-instead-what-will-globalisation-40-do 1/7
Columns Video Vox VoxTalks Publications Blogs&Reviews People Debates Events About
VOX CEPR Policy Portal
Research-based policy analysis and commentary from leading economists Search
Create account | Login | Subscribe
126 A A
Related
Trade globalisation in the last two centuries
Michel Fouquin, Jules Hugot
Early globalisation and the law of one price
Mario Crucini, Gregor Smith
Challenges in the coming phase of globalisation:
A sense of déjà vu
Otaviano Canuto, José Manuel Salazar
Globalisation 1.0 and 2.0 helped the G7.
Globalisation 3.0 helped India and China instead.
What will Globalisation 4.0 do?
Richard Baldwin 21 January 2019
Richard Baldwin describes how digital technology is allowing people and companies to arbitrage large relative
price differences in wages across countries, offering an enormous export opportunity for developing nations.
Globalisation leapt forward in the late 19th century
when steam power slashed the costs of moving goods
internationally. This ‘old globalisation’ came in two
waves. Globalisation 1.0 started in 1820 and ended at
the start of WWI, and Globalisation 2.0 began after
WWII and ended around 1990.1 In between,
globalisation retreated.
Old globalisation was especially beneficial to today’s
rich nations. The G7 (France, Germany, Italy, Britain, US, Japan, and Canada) saw rapid growth of
their exports, incomes, and industry compared to today's poor nations. This led to what Kenneth
Pomeranz, a historian, calls the Great Divergence.
The G7’s share of world GDP soared from one-fifth in 1820 to two-thirds in 1988. Its share of world
trade rose to more than 50% (Figure 1). Enormous differences in income between rich and poor
nations first emerged at this time.
Figure 1 Spot the difference: Globalisations 1.0 and 2.0 (blue) and 3.0 (red)
Banking, FinTech, Big Tech:
Emerging challenges for
financial policymakers
Challenges in the digital age
The parliamentary Brexit
endgame
Live Long and
Prosper? The
Economics of
Ageing
Populations
How to improve
consumer credit
ratings
Richard Baldwin
Professor of International
Economics at The Graduate
Institute, Geneva; Founder &
Editor-in-Chief of VoxEU.org;
exPresident of CEPR
Blogs&Reviews
Creating zombies and
disinflation: A cul de sac for
accommodative monetary
policy
Acharya
The October truce on US-
China trade failed to address
subsidies
Bown, Hillman
Sense and nonsense in the
public discussion of the future
of work
Baldwin
Why the CPTPP could be the
answer to the US-China trade
war
Petri, Plummer
Randomistas rule
Beck
more
Don't Miss
Petralia, Philippon, Rice, Véron
Labhard, McAdam, Petroulakis,
Vivian
Tyson
Vox eBooks
Bloom, 14 October 2019
More eBooks ...
13112019 Globalisation 1.0 and 2.0 helped the G7. GlobalisatChantellPantoja184
13/11/2019 Globalisation 1.0 and 2.0 helped the G7. Globalisation 3.0 helped India and China instead. What will Globalisation 4.0 do? | VOX, …
https://voxeu.org/content/globalisation-10-and-20-helped-g7-globalisation-30-helped-india-and-china-instead-what-will-globalisation-40-do 1/7
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Trade globalisation in the last two centuries
Michel Fouquin, Jules Hugot
Early globalisation and the law of one price
Mario Crucini, Gregor Smith
Challenges in the coming phase of globalisation:
A sense of déjà vu
Otaviano Canuto, José Manuel Salazar
Globalisation 1.0 and 2.0 helped the G7.
Globalisation 3.0 helped India and China instead.
What will Globalisation 4.0 do?
Richard Baldwin 21 January 2019
Richard Baldwin describes how digital technology is allowing people and companies to arbitrage large relative
price differences in wages across countries, offering an enormous export opportunity for developing nations.
Globalisation leapt forward in the late 19th century
when steam power slashed the costs of moving goods
internationally. This ‘old globalisation’ came in two
waves. Globalisation 1.0 started in 1820 and ended at
the start of WWI, and Globalisation 2.0 began after
WWII and ended around 1990.1 In between,
globalisation retreated.
Old globalisation was especially beneficial to today’s
rich nations. The G7 (France, Germany, Italy, Britain, US, Japan, and Canada) saw rapid growth of
their exports, incomes, and industry compared to today's poor nations. This led to what Kenneth
Pomeranz, a historian, calls the Great Divergence.
The G7’s share of world GDP soared from one-fifth in 1820 to two-thirds in 1988. Its share of world
trade rose to more than 50% (Figure 1). Enormous differences in income between rich and poor
nations first emerged at this time.
Figure 1 Spot the difference: Globalisations 1.0 and 2.0 (blue) and 3.0 (red)
Banking, FinTech, Big Tech:
Emerging challenges for
financial policymakers
Challenges in the digital age
The parliamentary Brexit
endgame
Live Long and
Prosper? The
Economics of
Ageing
Populations
How to improve
consumer credit
ratings
Richard Baldwin
Professor of International
Economics at The Graduate
Institute, Geneva; Founder &
Editor-in-Chief of VoxEU.org;
exPresident of CEPR
Blogs&Reviews
Creating zombies and
disinflation: A cul de sac for
accommodative monetary
policy
Acharya
The October truce on US-
China trade failed to address
subsidies
Bown, Hillman
Sense and nonsense in the
public discussion of the future
of work
Baldwin
Why the CPTPP could be the
answer to the US-China trade
war
Petri, Plummer
Randomistas rule
Beck
more
Don't Miss
Petralia, Philippon, Rice, Véron
Labhard, McAdam, Petroulakis,
Vivian
Tyson
Vox eBooks
Bloom, 14 October 2019
More eBooks ...
This is the first chapter of my book Global Marketing Strategy. It discusses the changes and new challenges that confront organisations in the 21st century market environment.
That the world of work as we have always known it is undergoing rapid metamorphosis is honestly an understatement, as the boundaries and worldview of work as currently constituted are being radically redefined at rocket speed level daily by many factors but more importantly by the unfolding Fourth Industrial Revolution (4IR). It appears that the ability of organizations, nations and societies to adapt and leverage the 4IR will determine the currency of their global relevance and the degree of sustainable development they can achieve.
The disruptive transformations that the fourth industrial revolution has brought into the contemporary global space are blurring the existing traditional boundaries in all spheres of life, enabling multifaceted convergence of multidisciplinary territories that were hitherto considered conceptually divergent.
This is a call to action for a multi-stakeholder, multidisciplinary approach to how nations particularly Nigeria can start conversations on the impact of the 4IR on work, the workplace and the workforce and how best to prepare for these disruptive impacts.
Future Outlook on Urban CompetitivenessWendy Schultz
The narrative of my 22 June 2010 presentation to the Global Innovation Forum in Seoul, sponsored by the Korea Economic Daily. Please refer to PDF of slidedeck, above.
Report | McKinsey Global Institute by:
James Manyika and Richard Dobbs are directors of the McKinsey Global Institute, where Michael Chui is a principal; Jacques Bughin is a director in McKinsey’s Brussels office; Peter Bisson is a director in the Stamford office.
Future of work An initial perspective by Andrew Curry of The Futures CompanyFuture Agenda
An initial perspective on the future of work by Andrew Curry of The Futures Company. This is the starting point for the global future agenda discussions taking place through 2015 as part of the futureagenda2.0 programme. www.futureagenda.org
Similar to Intuition forms over time. When McKinsey began publishing t.docx (20)
IRM 3305 Risk Management Theory and PracticeFall 2014Proje.docxmariuse18nolet
IRM 3305 Risk Management Theory and Practice
Fall 2014
Project Requirements:
I. Teams
a. 16 Students split into 3 teams .
II. Weighting
a. The Project is 30% of your grade.
i. The presentation will be attended by Dr. Braniff as well as industry professionals and representatives of the National Alliance.
ii. Start divvying up duties now – last minute work shows during the presentation.
iii. Practice! Practice! Practice! - part of your grade has to do with the presentation having been rehearsed.
iv. This is a PROFESSIONAL presentation – since we’ll most likely have outsiders joining us, presenters must dress in a professional manner (no jeans, proper professional attire).
v. This presentation should mimic what you would be comfortable presenting to your board of directors and your CFO, etc.
vi. You will be graded on the information presented, as well as the professionalism of your presentation and your team assessment.
III. Project Components:
a. Executive Summary of your findings. The purpose of the executive summary is to summarize key points.
i. Should include bulleted key points
ii. Should include 1-3 graphs for visualization
iii. No more than 3 pages (including graphs)
iv. Make the summary part of the Power Point Presentation
b. Power Point Presentation
i. A visual presentation of the questions given to you for the project.
ii. Needs to show application of information learned in class, not just a regurgitation of the questions and answers, I want to see critical thinking.
iii. Presentations will occur on Monday, Nov 30 No exceptions, you MUST be present. Each group will present during this time (up to 30 minutes per group, at least 15).
iv. ALL team members must present a portion of the project.
c. All of the presentation documents need to be submitted to me. If you did not answer all
of the questions in your power point presentation, I need to receive the answers in a document.
IRM 3305 Risk Management Theory and Practice
Group Project
October 16, 2015
The Pebbles, Inc.
GENERAL
The Pebbles, Inc. (the “Company) is a casino & resort operating company based in Las Vegas, Nevada, USA. The Company’s resorts feature high-end accommodations, gaming and entertainment, convention and exhibition facilities, celebrity chef restaurants, and clubs. In the past several years, the Company has decided to add a couple of other types of businesses, the most profitable being the Spinout School of Racing in Monte Carlo and the Big Shark Surfing School in Sydney. The current primary properties are listed below:
LAS VEGAS, NEVADA
The Big Gambler Resort-Hotel-Casino
- 05/03/1999
Non-Gambler Expo & Convention Ctr.
- 02/01/2002
Pebbles Resort-Hotel-Casino
- 12/30/2007
MONTE CARLO, MONACO
Pebbles, Monte Carlo – Resort-Hotel-Casino
- 05/18/2004
Spinout School of Racing
- 06/14/2009
SYDNEY, AUSTRALIA
Pebbles, Sydney – ResortHotel-Casino
- 04/27/2010
Big Shark Surfing School
- 04/27/2014
LAS VEGAS, NEVADA.
Ironwood Company manufactures cast-iron barbeque cookware. During .docxmariuse18nolet
Ironwood Company manufactures cast-iron barbeque cookware. During a recent windstorm, it lost some of its accounting records. Ironwood has managed to reconstruct portions of its standard cost system database but is still missing a few pieces of information.
Required:
Use the information in the table to determine the unknown amounts. You may assume that Ironwood does not keep any raw material on hand.
2. Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of directlabor hours. Information from LLL's standard cost card follows:
During August, LLL had the following actual results:
Units produced and sold 24,800
Actual variable overhead $9,470
Actual direct labor hours 15,800
Required:
Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over or under applied variable overhead.
Variable Overhead Rate Variance
Variable Overhead Efficiency Variance
Variable Overhead Spending Variance
3. Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table.
Required:
Complete the table by preparing Olive's flexible budget for Rs.5,700, 7,700 and 8,700 units.
Ironwood Company manufactures cast
-
iron barbeque cookware. During a recent w
indstorm, it lost
some of its accounting records. Ironwood has managed to reconstruct portions of its standard cost
system database but is still missing a few pieces of information.
Required:
Use the information in the table to dete
r
mine the unknown amount
s. You may assume that Ironwood
does not keep any raw material on hand.
2.
Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of
directlabor hours. Information from LLL's standard cost card follows:
During August, L
LL had the following actual results:
Units produced and sold 24,800
Actual variable overhead $9,470
Actual direct labor hours 15,800
Required:
Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over or under
a
pplied variable overhead.
Variable Overhead Rate Variance
Variable Overhead
Efficiency
Variance
Variable Overhead
Spending
Variance
3.
Olive Company makes silver belt buckles. The company's master budget appears in the first column of
the table.
Required:
Ironwood Company manufactures cast-iron barbeque cookware. During a recent windstorm, it lost
some of its accounting records. Ironwood has managed to reconstruct portions of its standard cost
system database but is still missing a few pieces of information.
Required:
Use the information in the table to determine the unknown amounts. You may assume that Ironwood
does not keep any raw material on hand.
2. Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of
directlabor hours. Information from LLL's standard cost card follows:
During August, LLL had the following actual results:
Units prod.
IRM 3305 Risk Management Theory and PracticeGroup Project.docxmariuse18nolet
IRM 3305 Risk Management Theory and Practice
Group Project
October 16, 2015
The Pebbles, Inc.
GENERAL
The Pebbles, Inc. (the “Company) is a casino & resort operating company based in Las Vegas, Nevada, USA. The Company’s resorts feature high-end accommodations, gaming and entertainment, convention and exhibition facilities, celebrity chef restaurants, and clubs. In the past several years, the Company has decided to add a couple of other types of businesses, the most profitable being the Spinout School of Racing in Monte Carlo and the Big Shark Surfing School in Sydney. The current primary properties are listed below:
LAS VEGAS, NEVADA
The Big Gambler Resort-Hotel-Casino
- 05/03/1999
Non-Gambler Expo & Convention Ctr.
- 02/01/2002
Pebbles Resort-Hotel-Casino
- 12/30/2007
MONTE CARLO, MONACO
Pebbles, Monte Carlo – Resort-Hotel-Casino
- 05/18/2004
Spinout School of Racing
- 06/14/2009
SYDNEY, AUSTRALIA
Pebbles, Sydney – ResortHotel-Casino
- 04/27/2010
Big Shark Surfing School
- 04/27/2014
LAS VEGAS, NEVADA
The Big Gambler Resort, Hotel & Casino is the pride and joy of Pebbles, Inc. There are over seven thousand spacious suites, designer shopping, world-class dining, and incredible entertainment. The location also includes a theatre where very well-known acts perform year round. The venue has an estimated seating capacity of 5,000. Typically, the theatre books a resident performer for 9-12 months at a time. Most recently, they signed on Brianne Smalle – a chart topping twenty-five year old pop sensation – to begin performing in the next 30 days. Unfortunately, Brianne has just been arrested after a multi-state car chase. To make matters worse, when she was finally stopped, the police found proof of major involvement in an international drug ring. In addition to her charges of DUI, she is now being accused of various charges related to the drug ring including money laundering, drug trafficking, human trafficking, kidnap and murder.
The Non-Gambler Expo & Convention Center was opened in 2002 to respond to the demands of the city. The Expo & Convention Center boasts over 2 million square feet with exhibit space of 1.5 million square feet. The location is central and is walking distance from over 100,000 guest rooms. The Convention Center is in the process of undergoing major renovations in order to accommodate the technology needs and desires of their guests and vendors. The intention was to complete the renovations by the end of the summer. Unfortunately, the main contractor, Trust Us Construction, is three months behind schedule due to the main project manager’s recent problems with gambling addiction. The convention center has a major exposition scheduled in two weeks for Fine China and Crystal of The World. The owner of the Center is convinced that the expo will go on as planned, confident that spare boards, exposed cords, drilling, hammering and multiple construction workers walking through the ex.
Iranian Women and GenderRelations in Los AngelesNAYEREH .docxmariuse18nolet
Iranian Women and Gender
Relations in Los Angeles
NAYEREH TOHIDI
In California, the popular face of immigration tends to be either Latin American or
Asian, but large numbers of immigrants who come from other regions in the world,
especially the Near East, have been quietly reshaping California demography. In this
study, Nayereh Tohidi focuses on the Iranians who have come to Los Angeles in the
wake of the 1979 Iranian revolution, largely middle- and upper-middle-class Tehrani-
ans who have fled the repressive policies of the current post-Shah, fundamentalist
regime. But American freedoms have offered particular challenges to Iranian immi-
grants, especially women, who tend to have "more egalitarian views of marital roles
than Iranian men," in Tohidi's words, a "discrepancy" that has led to "new conflicts
between the sexes." Thus, Iranian women immigrants are at once freer than their
sisters in Iran, more conflicted, and more in need of a "new identity acceptable to
their ethnic community and appropriate to the realities of their host country." Tohidi
is an associate professor of women's studies at California State University, Northridge.
She directs a new program in Islamic Community Studies at CSUN and is also a re-
search associate at the Center for Near Eastern Studies at the University of Califor-
nia, Los Angeles. Tohidi's publications include Feminism, Democracy, and Islamism in
Iran (1996), Women in Muslim Societies: Diversity within Unity (1998), and Global-
ization, Gender, and Religion: The Politics of Women's Rights in Catholic and Muslim
Contexts (2001).
I mmigration is a major life change, and the process of adapting to a newsociety can be extremely stressful, especially when the new environ-
ment is drastically different from the old. There is evidence that the im-
pact of migration on women and their roles differs from the impact of
the same process on men (Espin 1987; Salgado de Snyder 1987). The mi-
gration literature is not conclusive, however, about whether the overall
effect is positive or negative. Despite all the trauma and stress associated
with migration, some people perceive it as emancipatory, especially for
women coming from environments where adherence to traditional gen-
der roles is of primary importance. As [one researcher] said, "When the
traditional organization of society breaks down as a result of contact and
collision .. . the effect is, so to speak, to emancipate the individual man.
Energies that were formerly controlled by custom and tradition are re-
leased" (Furio 1979, 18).
My own observations of Iranians in Los Angeles over the past eight
years, as well as survey research I carried out in 1990,1 reveal that Iranian
1 This article draws on a survey of a sample of 134 Iranian immigrants in Los Angeles, 83
females and 51 males, and on interviews with a smaller sample of women and men.
149
1 50 The Great Migration: Immigrants in California History
women immigrants in Los Angeles are a homogeneou.
IRB HANDBOOK
IRB A-Z Handbook
Effective September 16, 2013
Capella University
225 South Sixth Street, Ninth Floor
Minneapolis, MN 55402
1
IRB HANDBOOK
Table of Contents
Introduction to the IRB A to Z Handbook ................................................................................ 3
Preparation for IRB Review ...................................................................................................... 4
Developing a Human Research Protection Plan 5
Documenting the Plan in Your IRB Submission Materials 5
Determining Submission Requirements ......................................................................... 5
Selecting the IRB Application 6
Selecting the Informed Consent or Assent Form Templates 7
Identifying Instrument Requirement(s) 8
Identifying Other Supporting Documents 8
Completing Application Forms, Letters, and Templates .................................................... 8
Completing the IRB Application 9
Drafting the Informed Consent or Assent Form(s) 10
Drafting the Recruitment Material(s) 10
Obtaining Research Site Permissions 10
What if I can’t get permission before IRB review? 11
Assessing and Revising Submission Materials ............................................................... 12
Assessing IRB Submission Materials 12
Revising IRB Submission Materials 12
IRB Submission and Review .................................................................................................. 13
Submitting Your IRB Application ................................................................................. 13
Registering and Activating an Account 13
Starting an application 13
Sending your application to your mentor 14
Completing IRB Office Screening Process .................................................................... 14
Undergoing IRB Review ............................................................................................. 15
Introduction to the Levels of Review 15
Receiving the IRB Decision Letter 16
IRB Decisions 16
Revising Your Study in Response to IRB Decision 17
Obtaining IRB Approval or Exemption ......................................................................... 18
Reviewing the IRB Approval Letter 19
Post-IRB Approval Procedures .............................................................................................. 20
Ensuring Ongoing Compliance .................................................................................... 20
Requesting Modifications to IRB-approved Studies........................................................ 20
Submitting a Modification Request Package ................................................................. 20
Implementing the Modification 21
Undergoing Continuing Review ................................................................................... 21
Submitting a Continuing Review Package 21
Reporting Adverse Events or Unanticipated Problems .....
IQuiz # II-Emerson QuizGeneral For Emerson, truth (or.docxmariuse18nolet
I
Quiz # II-Emerson Quiz
General: For Emerson, truth (or Spirit) is indwelling in the Universe, expressed through
nature and man and perceived through Reason (or Intuition) rather than just
understanding (reason, logic). All things are potentially microcosms, containing the
germs of all Truth, and so are not to be read as logical arguments
Here are some quotes from "Self Reliance," Choose one and explain what Emerson
means in your own words in 500 words. Due at our next meeting-Oct. 31, 2013
1. "Speak your latent conviction, and it shall be the universal sense"
2. We but half express ourselves, and are ashamed of that divine idea which each of
us represents."
3. "Society everywhere is in conspiracy against the manhood of everyone of its
members."
4. "Nothing is at last sacred but the integrity of your own mind."
5. "A foolish consistency is the hobgoblin oflittle minds, [famous Emersonism]
adored by little statements and philosophers and divines. With consistency a
great soul has simply nothing to do."
6. "The centuries are conspirators against the sanity and authority of the soul."
7. "Life only avails, not the having lived. Power ceases in the instant of repose."
[another famous Emersonism]
8. "Just as men's prayers are a disease of the will, so are their creeds a disease of the
intellect. "
9. 10. "In the Will work and acquire, and thou has chained the wheel of Chance, and
shalt sit thereafter out of fear from her rotations .... Nothing can bring you peace
but yourself." .
------ --
.
i
Python 2
For Beginners Only
Version 1.0
Matthew Kindy, 2010
Derived from: Think Python: How to Think Like a Computer Scientist by Allen Downey
ii
Copyright (C) 2010 Matthew Kindy
Permission is granted to copy, distribute and/or modify this document under the terms of the GNU
Free Documentation License, Version 1.3 or any later version published by the Free Software Foun-
dation; with no Invariant Sections, no Front-Cover Texts, and no Back-Cover Texts. A copy of the
license is included in the section entitled ”GNU Free Documentation License”.
iii
GNU Free Documentation License
Version 1.3, 3 November 2008
Copyright 2000, 2001, 2002, 2007, 2008 Free Software Foundation, Inc.
Everyone is permitted to copy and distribute verbatim copies of this license document, but changing
it is not allowed. 0.
PREAMBLE
The purpose of this License is to make a manual, textbook, or other functional and useful document
free in the sense of freedom: to assure everyone the effective freedom to copy and redistribute it,
with or without modifying it, either commercially or noncommercially. Secondarily, this License
preserves for the author and publisher a way to get credit for their work, while not being considered
responsible for modifications made by others.
This License is a kind of copyleft, which means that derivative works of the document must them-
selves be free in the same sense. It complements the GNU General Public License, which is a
copyleft license designed for free software.
We have designed this License in order to use it for manuals for free software, because free software
needs free documentation: a free program should come with manuals providing the same freedoms
that the software does. But this License is not limited to software manuals; it can be used for
any textual work, regardless of subject matter or whether it is published as a printed book. We
recommend this License principally for works whose purpose is instruction or reference.
1. APPLICABILITY AND DEFINITIONS
This License applies to any manual or other work, in any medium, that contains a notice placed by
the copyright holder saying it can be distributed under the terms of this License. Such a notice grants
a world-wide, royalty-free license, unlimited in duration, to use that work under the conditions stated
herein. The Document, below, refers to any such manual or work. Any member of the public is a
licensee, and is addressed as you. You accept the license if you copy, modify or distribute the work
in a way requiring permission under copyright law.
A Modified Version of the Document means any work containing the Document or a portion of it,
either copied verbatim, or with modifications and/or translated into another language.
A Secondary Section is a named appendix or a front-matter section of the Document that deals
exclusively with the relationship of the publishers or authors of the Document to the Documents
overall subject (or to related matters) and conta.
Iranian Journal of Military Medicine Spring 2011, Volume 13, .docxmariuse18nolet
Iranian Journal of Military Medicine Spring 2011, Volume 13, Issue 1; 11-16
* Correspondence; Email: [email protected] Received 2010/09/08; Accepted 2010/12/14
Personality traits, management styles & conflict management in a
military unit
Salimi S. H.
1
PhD, Karaminia R.
2
PhD, Esmaeili A. A.
*
MSc
*
Behavioral Sciences Research Center, Baqiyatallah University of Medical Sciences, Tehran, Iran;
1
Sport Physiology Research Center, Baqiyatallah University of Medical Sciences, Tehran, Iran;
2
Department of Clinical Psychology, Baqiyatallah University of Medical Sciences, Tehran, Iran
Abstract
Aims: Personality of managers affects their managerial style and their conflict management method. This study was
performed with the aim of investigating the relation between personality traits, leadership styles and conflict management
methods in a military unit.
Methods: This cross-sectional correlation study was performed on 200 senior managers of a military unit in Qom who were
selected by available sampling method. The leadership style was investigated by leadership styles questionnaire and
managers’ personality traits were investigated by NEO questionnaire and their conflict management method was studied by
Robbins questionnaire. Data was analyzed by SPSS 16 using descriptive and inferential statistical methods.
Results: The benevolence-consolatory imperative leadership style was the most frequent style (65.5%) and compatible
personality was the most observed characteristic (19.5%). The extrovert personality had positive relation with participatory
management style. There was a significant positive relationship between the extrovert personality and management style
score. In addition, there was a significant positive relationship between neuroticism and incompatible style.
Conclusion: The benevolence-consolatory imperative leadership style is the most frequent style and compatible personality
is the most observed characteristic among the studied unit’s senior managers. There is a significant positive relationship
between solution-seeking and controller methods of managing conflict and management style score and there is a significant
negative relationship between neuroticism and management style score.
Keywords: Personal Traits, Management Styles, Conflict Management, NEO Questionnaire
Introduction
In the current era, understanding the personality of
individuals is necessary in many situations of life.
Managers' personality is effective in the process and
choice of conflict resolution method and management
style. Research shows that there is a significant
correlation between personality traits and style of
conflict management. An indifferent or impassive
manager passes the issue and ignores it, while another
manager shows serious reactions [1]. Therefore, for
achieving organizational go.
IoT References:
https://www.techrepublic.com/article/how-to-secure-your-iot-devices-from-botnets-and-other-threats/
https://www.peerbits.com/blog/biggest-iot-security-challenges.html
https://www.bankinfosecurity.asia/securing-iot-devices-challenges-a-11138
https://www.sumologic.com/blog/iot-security/
https://news.ihsmarkit.com/press-release/number-connected-iot-devices-will-surge-125-billion-2030-ihs-markit-says
https://cdn.ihs.com/www/pdf/IoT_ebook.pdf
https://go.armis.com/hubfs/Buyers%E2%80%99%20Guide%20to%20IoT%20Security%20-Final.pdf
https://www.techrepublic.com/article/smart-farming-how-iot-robotics-and-ai-are-tackling-one-of-the-biggest-problems-of-the-century/
Video Resources:What is the Internet of Things (IoT) and how can we secure it?
https://www.youtube.com/watch?v=H_X6IP1-NDc
What is the problem with IoT security? - Gary explains
https://www.youtube.com/watch?v=D3yrk4TaIQQ
Final Research Project - Securing IoT Devices: What are the Challenges?
Internet security, in general, is a challenge that we have been dealing with for decades. It is a regular topic of discussion and concern, but a relatively new segment of internet security is getting most attention—internet of things (IoT). So why is internet of things security so important?
The high growth rate of IoT should get the attention of cybersecurity professionals. The rate at which new technology goes to market is inversely proportional to the amount of security that gets designed into the product. According to IHS Markit, “The number of connected IoT devices worldwide will jump 12 percent on average annually, from nearly 27 billion in 2017 to 125 billion in 2030.”
IoT devices are quite a bit different from other internet-connected devices such as laptops and servers. They are designed with a single purpose in mind, usually running minimal software with minimal resources to serve that purpose. Adding the capability to run and update security software is often not taken into consideration.
Due to the lack of security integrated into IoT devices, they present significant risks that must be addressed. IoT security is the practice of understanding and mitigating these risks. Let’s consider the challenges of IoT security and how we can address them.
Some security practitioners suggest that key IoT security steps include:
1. Make people aware that there is a threat to security;
2. Design a technical solution to reduce security vulnerabilities;
3. Align the legal and regulatory frameworks; and
4. Develop a workforce with the skills to handle IoT security.
Final Assignment - Project Plan (Deliverables):
1) Address each of the FOURIoT security steps listed above in terms of IoT devices.
2) Explain in detail, in a step-by-step guide, how to make people more aware of the problems associated with the use of IoT devices.
Bottom of Form
Top of Form
Bottom of Form
Personal data breaches and securing IoT devices
· By Damon Culbert (2019)
The Internet of Things (IoT) is taking the world b.
IP Subnet Design Project- ONLY QUALITY ASSIGNMENTS AND 0 PLAG.docxmariuse18nolet
IP Subnet Design Project- ONLY QUALITY ASSIGNMENTS AND 0% PLAGIARISM
1 | P a g e
IP Subnet Design Project
Overview
Each student will create a detailed, unified technical design of network services given the
scenario. The submission will be in a written format with a length of at least 1000 words
(not counting diagrams, quoted passages, or other attachments) and with at least one
detailed diagram created by the student. The assignment is meant for students to enhance
their mastery of the material and to provide a creative and realistic way in which to apply
knowledge from this course.
Scenario
You are a consultant being brought in by XUMUC to assist with its merger with another
company.
Background
XUMUC has the WAN links in place to the new locations in the Houston Region.
XUMUC currently has 2 other Regions San Francisco and Denver. Originally, XUMUC
was only in one region (San Francisco). The previous consultant did a poor job with the
integration resulting in a poor IP address scheme as a result routing tables at the
summarization points and at the San Francisco Campus are very large.
In addition, no VLAN structure was developed to isolate broadcast traffic. There are 4
main departments in XUMC: sales, finance, human resources, and research and
development. Also, there has been some concern that the WAN transport was not able to
accommodate the network traffic. Finally, all addresses in the network are statically
assigned resulting in high administration overhead when changes are made. XUMC
would like this changed to lower administrative overhead.
IP ADDRESSING TABLE
Location
Number of IP
Addresses
Required Address Block Assigned
San Francisco 1290 172.16.0.0-172.16.7.255/21
Denver Region
Denver Campus 441
Remote Office 1 28
Remote Office 2 35
Houston Region
Houston Campus 329
Remote Office 3 21
IP Subnet Design Project.
2 | P a g e
Deliverables
There are a number of requirements for this project.
• The document should contain:
o Title page
o Table of Content page
o Executive summary
o Technical details (including any assumptions)
Details that address all issues described above
Completed IP addressing table (including summarized routes for
the Denver and Houston regions),
Updated network diagram
Supporting arguments
o Conclusion
o Reference page
Formatting and Length:
• The paper must be at least 1000 words in length. Word count does not include
words in diagrams, tables, large quotations from sources, or other attachments.
The length should not exceed 15 pages; recommended length is 8-9 double-
spaced pages.
• Use 1" margins. The font should be 12-point, Arial. Include page numbers in your
document, as well as your name and date somewhere in the document (e.g., on a
title page).
XMUMC Network Diagram
IP Subnet Design Project.
3 | P a g e
IP Subnet Design Project
4 | P a g e
.
Iran:
Ayatollah
Theocracy
Twelver Shiism
Vilayat-e Faghih (jurist's guardianship)
Imam
Shari’a
Dual Society
Constitutional Revolution
White Revolution
Islamic Revolution
Iranian Revolutionary Guard (Pasdaran)
Rentier state
Resource curse
Maslahat
Green Movement
reformers vs. conservatives
Majmu’eh (Society of the Militant Clergy) vs. Jam’eh (Association of the Militant Clergy)
Iman Jum'ehs
Hojjat al-Islams
Powers and roles of Guardian Council, Supreme Leader, Majles, President, Expediency Council and Assembly of Religious Experts
1. Discuss the source of the legitimacy problem associated with “earthly” regimes in Shia Islam prior to Khomeini’s book, Vilayat-e Faghih. How does Khomeini’s revision of this allow for the establishment of a theocracy within this country?
2. Describe in detail how Iran combines theocracy with democracy in its governmental system. Assess the relative balance between these two forces.
3. What are some of the ways in which the oil industry has advanced or distorted development in Iran?
4. List the steps in the electoral process used to elect the Iranian president. What is considered to be the main obstacle to fair elections in Iran?
5. What are the powers and limitations of Iran’s parliament?
6. What are the most important political challenges that now face Iran?
Mexico:
Mestizo
Ejidos
maquiladoras
import substituting industrialization (ISI)
parastatal
clientelism
state capitalism
Institutional Revolutionary Party (PRI)
National Action Party (PAN)
Party of the Democratic Revolution (PRD)
NAFTA
el dedazo
sexenio
amparos
1986 Immigration Reform and Control Act
Corporatist state
Anticlericalism
Porfiriato
Accommodation
1. What is the PRI? Describe how it has traditionally dominated the Mexican political system. List the other main political parties and briefly discuss their general platforms and typical supporters.
2. Describe the process of el dedazo. Describe two reasons why this process is no longer utilized in Mexico.
3. Mexico’s political system was traditionally characterized as a “hyper-presidential” system. What formed the basis for this characterization? Is this characterization still true? (Make sure to support your argument here.)
4. Are state institutions like the military and the judiciary truly independent of the executive branch of government? In what ways have these institutions promoted or hindered the growth of democracy in recent years?
5. What are the power bases of the main political parties in Mexican politics? What factors made it possible for the PAN to unseat the long-dominant PRI in 2000? What accounts for the continuing viability of the PRI as a political force?
6. What challenges does the process of globalization pose to Mexican’s strong sense of national identity?
.
ipopulation monitoring in radiation emergencies a gui.docxmariuse18nolet
i
population monitoring in radiation emergencies: a guide for state and local public health planners
Developed by the
Radiation Studies Branch
Division of Environmental Hazards and Health Effects
National Center for Environmental Health
Centers for Disease Control and Prevention
U.S. Department of Health and Human Services
August 2007
PREDECiSioNal DRaft
this planning guide is provided as a predecisional draft. Please send your comments
and suggestions to the Radiation Studies Branch at CDC via e-mail ([email protected])
or mail them to:
Radiation Studies Branch
Division of Environmental Hazards and Health Effects
National Center for Environmental Health
Centers for Disease Control and Prevention
1600 Clifton Rd, NE (MS-E39)
atlanta, Ga 30333
Electronic copies of this document can be downloaded from
http://emergency.cdc.gov/radiation/pdf/population-monitoring-guide.pdf
population monitoring in radiation emergencies:
a guide for state and local public health planners
ii
population monitoring in radiation emergencies: a guide for state and local public health planners
acknowledgments
the Centers for Disease Control and Prevention (CDC) thanks the many individuals and
organizations that provided input to this document, including the office of the Secretary,
Department of Health and Human Services, and the Population Monitoring interagency Working
Group.
Representatives from the following agencies and organizations participated in the CDC
roundtable on population monitoring on January 11–12, 2005, and many provided comments on
initial drafts of this document:
American Red Cross (ARC)
Armed Forces Radiobiology Research Institute (AFRRI)
Association of State and Territorial Health Officials (ASTHO)
Conference of Radiation Control Program Directors, Inc. (CRCPD)
Council of State and Territorial Epidemiologists (CSTE)
Columbia University, Center for International Earth Science Information Network
Pennsylvania State University, Milton S. Hershey Medical Center
Indian Health Services
International Atomic Energy Agency (IAEA)
National Association of County and City Health Officials (NACCHO)
New York City Dept. of Health and Mental Hygiene
Oak Ridge Institute for Science and Education (ORISE)
State of Arkansas Department of Health
State of California Department of Public Health
State of Georgia Division of Public Health, Emergency Medical Services (EMS)
State of Illinois Emergency Management Agency (IEMA)
State of Iowa Hygienic Laboratory Department of Health
State of Maine Health and Environmental Testing Laboratory
State of Washington Department of Health
Texas A&M University, Department of Nuclear Engineering
University of Alabama-Birmingham, School of Public Health
University of Georgia, Grady College of Journalism and Mass Communication
University of New Mexico Health Sciences Center, Department of Radiology
iii
population monitoring in radiation emergen.
In Innovation as Usual How to Help Your People Bring Great Ideas .docxmariuse18nolet
In Innovation as Usual: How to Help Your People Bring Great Ideas to Life (2013), Miller and Wedell-Wedellsborg discuss the importance of establishing systems within organizations that promote not only the creativity that results in innovation, but also make it possible for employees to bring innovative ideas to fruition. Miller and Wedell-Wedellsborg argue that a leader’s primary job “is not to innovate; it is to become an innovation architect, creating a work environment that helps . . . people engage in the key innovation behaviors as part of their daily work” (p. 4). Such a work environment must be reinforced by innovation architecture—the structures within an organization that support an innovation, from the brainstorming phase to final realization. The more well developed the architecture and the simpler the processes involved, the more likely employees are to be innovators.
For this assignment, you will research the innovation architecture of at least three companies that are well-known for successfully supporting a culture of innovation. Write a 1,500-word paper that addresses the following:
1. What particular elements of each organization’s culture, processes, and management systems and styles work well to support innovation?
2. Why do you think these organizations have been able to capitalize on innovation and intrapreneurship while others have not?
3. Based on what you have learned, what processes and systems might actually stifle innovation and intrapreneurship?
4. Imagine yourself as an innovation architect. What structures or processes would you put in place to foster a culture of innovation within your own organization?
Include in-text citations to at least four reputable secondary sources (such as trade journals, academic journals, and professional or industry websites) in your paper.
.
Investor’s Business Daily – Investors.comBloomberg Business – Blo.docxmariuse18nolet
Investor’s Business Daily – Investors.com
Bloomberg Business – Bloomberg.com
Bonds Online – Bondsonline.com
CBOE – CBOE.com
Yahoo Finance – Finance.Yahoo.com
SEC GOV EDGAR – sec.gov/edgar
Barron’s – barrons.com
CNBC – cnbc.com/pro
Treasury Direct – treasurydirect.gov
Goldman Sachs – goldmansachs.com
YouTube – Portfolio Management
Motley Fool
Morning Star – Morningstar.com
FI360 – fi360.com
Value Line – valueline.com
Earnings Cast – earningcast.com
WEEK 1
CHAPTER 1
DISCUSSION:
1. Briefly discuss each of the eight steps in the investment planning process. (p. 1)
2. Explain the importance of client assessment and capital markets assessment. (pp. 1-2)
3. Describe the three types of investments that can be included within a portfolio. (p. 2)
4. Discuss the importance of continuous monitoring of portfolios. (p. 3)
CHAPTER 2
DISCUSSION:
1. Describe some of the debt instruments that may be included in a money market fund and the nature of these type instruments. (p. 5)
2. Explain how an investor might manage interest rate risk through the use of CDs. (p. 7, item #8)
3. Briefly discuss the nature of fees associated with the purchase of CDs as they relate to (a) banking institutions and (b) brokerage firms. (p. 9)
CHAPTER 3
DISCUSSION:
1. Describe why a risk adverse investor would be inclined to favor a direct issue of Treasury Department over a corporate issue of similar length to maturity. (pp. 13-14)
2. Discuss the tax ramifications of purchasing a T-bill on the open market prior to its maturity. (pp. 14-15)
3. Briefly discuss, if all government securities with like maturites have the same risk/reward characteristics, WHY an investor might be selective in the type of security he purchases? (p. 16)
CHAPTER 4
DISCUSSION:
1. Explain the rationale behind why an investor might choose NOT to sell bonds. (pp.20-21)
2. Discuss how interest income is usually received and the tax ramifications to an investor who receives such income in a taxable account. (pp. 21-22)
3. Briefly explain what the affect of interest rate movements are on the price of corporate bonds, especially as it relates to their term to maturity. (p. 24)
Chapter 5
CHAPTER DISCUSSION:
1. Briefly discuss how a convertible security can offer a “floor” value below which an investor can protect his investment (pp. 27-28)
2. Explain why the rates offered by convertible securities are generally lower than those available on nonconvertible issues of similar quality (p. 29)
3. Tell how profits and losses on a preferred stock are treated (p. 29)
4. Discuss the major advantages of an investor who buys a “stock purchase warrant” and a nonconvertible bond (pp. 27-28)
CHAPTER 6
DISCUSSION:
1. Distinguish between the three types of municipal bonds presented in the introduction, and decide when investors might find these financial instruments to be a useful “tool” in their portfolios (p. 35)
2. Explain why a risk averse investor might prefer investing in a “general obligation’ bond, rather th.
Invitation to Public Speaking, Fifth EditionChapter 8 Introdu.docxmariuse18nolet
Invitation to Public Speaking, Fifth Edition
Chapter 8: Introductions and Conclusions
By Cindy L. Griffin
elizabeth () - changed
elizabeth () - changed to reflect new chapter numbers
Introduction
The speaker’s first contact with the audience
Introductions are like first impressions:
Important
Lasting
elizabeth () - new slide
Introduction
Catch the audience’s attention
Reveal the topic to the audience
Establish credibility with the audience
Preview the speech for the audience
Prepare a Compelling Introduction
Ask a Question
Tell a story
Recite a quotation or a poem
Give a demonstration
Make an intriguing or startling statement
Prepare a Compelling Introduction
State importance of topic
Share expertise
State what’s to come
Tips for the Introduction
Look for introductory materials as you do your research
Prepare and practice the full introduction in detail
Be brief
Be creative
elizabeth () - modified to reflect subhead
Conclusions
The speaker’s final contact with the audience
The conclusion represents your last impression:
Lingers with your listeners long after your speech is over
elizabeth () - new slide
The Conclusion
Bring your speech to an end
Reinforce your thesis statement
Prepare a Compelling Conclusion
Summarize main points
Answer introductory question
Refer back to the introduction
Recite a quotation
Tips for the Conclusion
Look for concluding materials
Be creative
Be brief
Don’t leave the conclusion to chance
Speech Introduction and Conclusion
Watch Mike deliver a speech introduction and conclusion.
Discuss if and how Mike Piel met the objectives of a speech introduction and conclusion.
Ellen DeGeneres
Ellen Degeneres Commencement Speech
Listen to the first 2 minutes of Ellen DeGeneres and identify how she remains audience-centered
There is more to citing sources than merely the accurate transcription or recitation of someone’s words.
Invitation to Public Speaking, Fifth Edition
Chapter 7: Organizing and Outlining your Speech
By Cindy L. Griffin
elizabeth () - changed
elizabeth () - changed to correspond to new chapter numbers
Organize for Clarity
Organization: the systematic arrangement of ideas into a coherent whole, makes speeches listenable
Main Points
Main points; the most important, comprehensive ideas you address in your speech.
elizabeth () - new slide
Main Points
Identify main points
Use an appropriate number of main points
Order main points
Ordering Main Points
Chronological – Good for when the idea about which you are speaking extend over a period of time.
Spatial – An arrangement of ideas by location or direction.
Causal – A pattern that describes cause-and-effect relationships between ideas and events.
Problem-
Solution
– Identifies first a problem, then a solution.
Topical – Allows you to divide your topic into sub-topics and even sub-sub-topics.
Tips for Preparing Main Points
Keep each main point separate and distinc.
Invitation to the Life SpanRead chapters 13 and 14.Objectives.docxmariuse18nolet
Invitation to the Life Span
Read chapters 13 and 14.
Objectives:
Describe psychosocial changes in adulthood.
Describe and analyze personality theories that apply to adulthood.
Analyze the physical and cognitive changes that occur during late adulthood.
Adulthood and Late Adulthood
Introduction
The last module began an examination of adulthood. This module will finish the study of adulthood and begin a look at late adulthood.
Psychosocial Development in Adulthood
Erikson's seventh stage of generativity vs. stagnation occurs during this stage. Being generative means truly caring about the next generation (e.g., being a parent, teacher, coach, or conservationist) (Boeree, 2006b). The idea of a mid-life crisis has been a popular notion since the 1970s (see Berger's description of Levinson's research on page 459), but very little evidence for it exists. Modern personality theorists have backed off the word crisis, which implies a do-or-die decision point, and instead have started using terms like marker events, turning points, or passages (Sheehy, 1976).
Abraham Maslow created another prominent theory of personality development (examine his five stages of the hierarchy of needs in Berger, 2010, Figure 13.1, p. 457). The lowest level, physiological needs, must be satisfied first, followed by the others in ascending order. Because people spend so much time satisfying the four lowest needs, very few reach the highest stage of self-actualization, where people live up to their potential; at one point, Maslow estimated the percentage of self-actualizers to be around 2% (Boeree, 2006a). Numerous longitudinal studies have shown evidence of considerable stability and continuity in personality across the adult years (see Berger's discussion of Costa and McCrae's research).
Robert Havighurst (cited in Newman & Newman, 2010) states that adults in their 20s and 30s must face four developmental tasks. Tasks 1 and 2, marriage and childbearing, are affected by societal expectations (called the social clock). The probability of divorce hits its peak 2 to 4 years after marriage. Qualities for a successful marriage include similarity in personal characteristics, trust, sensitivity, and adjustment (including a mutually satisfying sexual relationship, economic factors, sleep patterns, food patterns, and toilet habits) (Kimmel, cited in Newman & Newman, 2010). Task 3 involves work, and includes four components: having technical skills, handling authority relationships, coping with unique demands of the job, and establishing and maintaining interpersonal relationships. Task 4 involves establishing a lifestyle that is compatible for both spouses (as well as dealing with constraints placed on the marriage by the children) (Newman & Newman, 2010).
For adults in their 40s and 50s, Havighurst (cited in Newman and Newman, 2010) discusses three crucial developmental tasks. Task 1 involves managing a household, including the following sub-tasks: 1) decision-making (about fina.
IOBOARD Week 2 Lab BPage 2 of 4Name _________________ Gr.docxmariuse18nolet
IOBOARD Week 2 Lab BPage 2 of 4
Name: _________________ Grade: __________
Title: IOBOARD I/O Board Pushbuttons and LEDs
1. OBJECTIVESCreate an ARM project to control LEDs from the corresponding pushbutton inputs on the I/O Board.
1. DESCRIPTION
The eight pushbutton inputs on the I/O board will independently operate the corresponding eight LEDs on the I/O board.
III.PROCEDURE
1. Create a folder with the following path C:\DeVry\ECT274\Week2\W2LB.
2. Follow the steps in the Week 2 Lab A Tutorial to set up the VI for the I/O Board (steps 1-10 of the tutorial). Save the project as “FiLastNameLab2-B.lvproj” and the VI as “FiLastNameLab2-B.vi” to the folder created in step 1.
3. Switch to the block diagram. This lab will have no controls or indicators on the front panel.
4. Add a While loop. Right-click on the Loop Condition input, then select Create Constant.
5. Add the IOBOARD VI inside the While loop. From the block diagram, right-click in block diagram, then select “Select a VI...” andselect the ReadWriteIOBoard (SubVI).vi located in the C:\DeVry\IOBOARD folder. Expand the icon as shown in Figure 1.
6. Right-click on the Board Component input of the I/O BOARD icon and then CreateConstant.
7. Using the selector, change the constant to Pushbuttons.
8. Right-click on the Operation input of the I/O BOARD icon, then Create Constant.
9. Using the selector, change Write To Board to Read From Board.
10. Right-click on the Data to Board input of the I/O Board icon, then Create Constant. Leave the constant to 0. The pushbuttons can now be read from the I/O board. Data To Board, 0, is ignored. Data are expected from the board. Your VI should look similar to the figure 2 below.
Figure 2
11. The data that were read will now be sent to the LEDs on the I/O board.
12. Add another I/O BOARD Library VI to the While loop. Place it to the right of the first IOBOARD Library VI icon.
13. Using the second library icon, right-click on the Board Component input of the IOBOARD Board icon and then CreateConstant.
14. If the constant is not LEDs, Use the selector to change it to LEDs.
15. Right-click on the Operation input of the second IOBOARD icon and then Create Constant. The constant should be Write to Board.
16. Wire the output Data From Board of the first icon to the input Data To Board of the second icon. This will allow data to pass from the pushbuttons to the LEDs.
17. Add a half second wait to the While loop. The Wait (ms) function is located on the Time, Dialog… subpalette of the Programming palette. Create a constant of 500 for an input of 500 ms or one half second.
18. The final VI is shown in Figure 3 below.
Figure 3
19. Save the project.
20. Connect power to the ARM board. Run the VI. When a pushbutton on the I/O board is pressed, the corresponding LED should go on. Verify board operations.
21. Stop the program by pressing the Reset button on the ARM board.
22. Exit LabVIEW.
23. From the project folder, zip the files with the following name.
INVITATION TO Computer Science 1 1 Chapter 17 Making .docxmariuse18nolet
INVITATION TO
Computer Science 1 1
Chapter 17
Making Decisions about Computers,
Information, and Society
Objectives
After studying this chapter, students will be able to:
• Use ethical reasoning to evaluate social issues
related to computing
• Describe the viewpoints of music users and music
publishers about the issue of music file sharing
• Apply utilitarian arguments to ethical issues
• Explain the social tradeoffs involved in lawful
intercept laws and their opposition
• Explain the purpose of a dialectic process
• Use analogies to evaluate ethical issues
Invitation to Computer Science, 6th Edition 2
Objectives (continued)
After studying this chapter, students will be able to:
• Provide arguments that support and oppose
hackers who claim to be performing a social good
• Perform deontological analysis of the duties and
responsibilities of parties in an ethical issue
• Describe cyberbullying and why legal remedies are
difficult to apply
• Explain the potential downsides of sexting for those
engaged in it
• Explain why information online may not be private
Invitation to Computer Science, 6th Edition 3
Introduction
• Social and ethical issues related to information
technology are unavoidable
• Develop skills to reason about such issues
• Case studies introduce important ethical issues
– Describe arguments for and against certain positions
– Evaluate arguments in terms of ethics
Invitation to Computer Science, 6th Edition 4
Case Studies
Case 1: The Story of MP3—Compression Codes,
Musicians, and Money
• MP3 standard for compressing sound developed in
1987
• Patented and worldwide by early 1990s
• Computer-based MP3 playback in 1997
• WinAmp application free on the Internet in 1998
• Users began transmitting and sharing MP3 music
• Napster file-sharing system developed, 1999
• Peer-to-peer file sharing:
– Software introduces users to each other
– Sharing happens directly between users
Invitation to Computer Science, 6th Edition 5
Invitation to Computer Science, 6th Edition 6
Case Studies
Case 1: The Story of MP3—Compression Codes,
Musicians, and Money (continued)
• Recording companies filed suit against Napster,
1999
• Lawsuit claimed Napster was a conspiracy to
encourage mass infringement of copyright
• Facts:
– Most shared music was copyrighted
– Many artists opposed sharing---no revenue for them
– Some artists supported sharing
Invitation to Computer Science, 6th Edition 7
Case Studies
Case 1: The Story of MP3—Compression Codes,
Musicians, and Money (continued)
• Napster claims:
– Napster was just a “common carrier”
– Napster reported song locations, was not involved in
actual sharing
– They were not responsible for users’ behaviors
– Swapping files this was should be “fair use” under
copyright law
• Napster lost the case and appeals, and closed in
2001
Invitation to Computer Science, 6th Edition 8
C.
Investment Analysis & Portfolio Management AD 717 OLHomework E.docxmariuse18nolet
Investment Analysis & Portfolio Management
AD 717 OL
Homework Exercise 7 - Derivatives
1) On June 21, 2011, the GE’s stock closed at $18.81 per share. The accompanying table lists the prices for GE’s exchange-traded options. Using this data, calculate the payoff and the profit for each of the following September expiration options, assuming that at the September expiration the value of the stock was $17.72.
a) Call option X = $17
b) Put option x = $17
c) Call option x = $19
d) Put option x = $19
e) Call option x = $15
f) Put option x = $21
2. It is mid July. You believe that Walmart stock which is currently priced at $53.00 will appreciate significantly over the next several months. A long-term equity call option (LEAPS) with an expiry in mid January and a strike price of $52.50 is available at a price of $2.50. You have $10,600 to invest. You consider 4 alternatives:
a) Use your entire amount of funds to buy the stock outright
b) Use the entire amount to purchase the stock on margin. Assume that the minimum margin requirement is 50% and that you will pay 7% (annually) on borrowed funds.
c) Use the entire amount of funds to buy LEAPS call options with the January expiry date.
d) Buy options for 200 shares and use the rest of the money to buy government bills paying 1% per year. (hence figure on 6 months of interest).
For simplicity ignore any brokerage charges Calculate the net gain or loss from each strategy as of mid January assuming that the price of stock is:
Gain / Loss from Investment in Walmart
Investment Strategy
Stock Price in Mid January
$45
$50
$55
$60
Stock Outright
Stock on Margin
All Options
Options & Bills
3) One of the financial instruments that attracted so much hostile fire in the analysis of the recent financial crisis were “Synthetic Collateralized Debt Obligations” (synthetic cdos) which used “synthetic debt” as its collateral. Describe how you could use a combination of risk free investments and derivatives to create the same pay-off / risk profile as if you were holding a corporate bond, say for IBM. Explain how the pay-off / risk profile is the same (a) if the company remains afloat and pays all of its debt obligations on time or (b) if the company defaults on its debt obligations.
4) A stock is currently priced at $50. The risk free interest rate is 10% per year. What is the value of a call option on the stock with a strike price of $45 due in one year?
a) Using the Binomial valuation approach, assume that at the end of one year the value of the stock could either have increased to $60 or decreased to $40.
b) Using the Black-Scholes model, assume that the annual volatility (standard deviation) of the stock price is 25%.
5) On June 29, 2010 the S&P 500 stood at 1308.44. The one year futures price on the index was 1278.7. The 1 year risk free rate was 0.238%. Using the Spot-Futures Parity relationship, calculate the annualized expected.
Investment BAFI 1042 Kevin Dorr 3195598 GOODMAN .docxmariuse18nolet
Investment BAFI 1042
Kevin Dorr 3195598
GOODMAN FIELDER LIMITED (GFF)
COMPANY VALUATION REPORT
1
GOODMAN FIELDER
LIMITED
COMPANY VALUATION REPORT
Scope
• The report looks at all publicly available data about the company via
the annual reports and publications
• An analyses of the company’s weakness and strength has been
conducted with detailed look at the fundamentals impacting the company
• The report outlines the ratios in relation to probability, return on
equity, using several modelling techniques
• There are charts and information used form the cash flow statement,
balance sheet and historical data sourced from the ASX
• The analysis of the company is compared to its competitors, industry,
sector and market it operates in.
• The report looks at stock price movement and all assumptions are
made available and are explained.
• Expert opinion and copyrighted material is used in the report and has
been appropriately
referenced.
REPORT
OUTLINE
This report attempt to
provide an analytical
evaluation of
Goodman fielder,
every attempt has
been made to make all
data accessible and
complete. This report
contains financial data,
historical analysis,
forecasts and
estimates based on
best available and
most up to date
information. The aim is
for the reader to be
able to make an
informed decision
about the fair value of
GFF stock and
compare it to GFF
peers in the industry. It
should give reader the
ability to form an
opinion on Goodman
fielder as an
investment based on
financial information
analytics.
2
Executive summary
Goodman fielder is one of the largest producers of food in Australia and it supplies product in many categories,
however it is first or second in every food category it participates in. It owns brands such as such as Nature's
Fresh, Helga's, Praise, Wonder White, Quality Bakers, White Wings, and Meadow Lea with offerings in consumer
brands such as Fresh milk, Meadow White Wings cake mixes, Praise salad dressings, and Leaning Tower frozen
pizza (Yahoo Finance 2012). It reaches over 30000 outlets in and around Australia. There are several major
shareholders of the company such as J. P. Morgan Nominees Australia Limited which owns 19%, HSBC Custody
Nominees (Australia) Limited that owns 17% and National Nominees Limited the owners of 22% of the
company(ASX 2012.)
On 19 August 2011 Goodman Fielder announced a net loss of $166.7 million for the year ended 30 June 2011,
this was attributable to a non-cash impairment charge of $300 million. Revenues from ordinary activities were
$2.56 billion, which is down 3.9% from the year before The New CEO of Goodman Fielder Limited Chris Delaney
is going to implement a strategic review which is focused on improving the performance of the company. There
are significant opportunities to increase efficiency, improve supply chain structure and inno.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
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Intuition forms over time. When McKinsey began publishing t.docx
1. Intuition forms over time. When McKinsey began publishing
the Quarterly, in 1964, a new management environment was just
beginning to take shape. On April 7 of that year, IBM
announced the
System/360 mainframe, a product with breakthrough flexibility
and capability. Then on October 10, the opening ceremonies of
the
Tokyo Olympic Games, the first in history to be telecast via
satellite
around the planet, underscored Japan’s growing economic
strength.
Finally, on December 31, the last new member of the baby-
boom
generation was born.
Fifty years later, the forces symbolized by these three
disconnected
events are almost unrecognizable. Technology and connectivity
have
disrupted industries and transformed the lives of billions. The
world’s economic center of gravity has continued shifting from
West
to East, with China taking center stage as a growth story. The
baby boomers have begun retiring, and we now talk of a
demographic
drag, not a dividend, in much of the developed world and China.
We stand today on the precipice of much bigger shifts in each
of these
areas, with extraordinary implications for global leaders. In the
years ahead, acceleration in the scope, scale, and economic
impact of
2. technology will usher in a new age of artificial intelligence,
con-
sumer gadgetry, instant communication, and boundless
information
while shaking up business in unimaginable ways. At the same
time,
the shifting locus of economic activity and dynamism, to
emerging
Management intuition
for the next 50 years
The collision of technological disruption, rapid
emerging-markets growth, and widespread
aging is upending long-held assumptions that
underpin strategy setting, decision making,
and management.
Richard Dobbs, Sree Ramaswamy, Elizabeth Stephenson,
and S. Patrick Viguerie
S E P T E M B E R 2 0 1 4
22
markets and to cities within those markets, will give rise to a
new
class of global competitors. Growth in emerging markets will
occur
in tandem with the rapid aging of the world’s population—first
3. in
the West and later in the emerging markets themselves—that in
turn
will create a massive set of economic strains.
Any one of these shifts, on its own, would be among the largest
eco-
nomic forces the global economy has ever seen. As they collide,
they will produce change so significant that much of the
management
intuition that has served us in the past will become irrelevant.
The
formative experiences for many of today’s senior executives
came as
these forces were starting to gain steam. The world ahead will
be
less benign, with more discontinuity and volatility and with
long-term
charts no longer looking like smooth upward curves, long-held
assumptions giving way, and seemingly powerful business
models
becoming upended. In this article, which brings together years
of research by the McKinsey Global Institute (MGI) and
McKinsey’s
Strategy Practice,1 we strive to paint a picture of the road
ahead,
how it differs from the one we’ve been on, and what those
differences mean for senior executives as they chart a path for
the
years to come.
Forces at work
In an article of this length, we can only scratch the surface of
the
massive forces at work.2 Nonetheless, even a brief look at three
4. of the most important factors—emerging-markets growth,
disruptive
technology, and aging populations—is a useful reminder of the
magnitude of change under way.
Dynamism in emerging markets
Emerging markets are going through the simultaneous industrial
and urban revolutions that began in the 18th century in England
and
in the 19th century in the rest of today’s developed world. In
2009,
1 For more, see Peter Bisson, Elizabeth Stephenson, and S.
Patrick Viguerie, “Global forces:
An introduction,” McKinsey Quarterly, June 2010; and Yuval
Atsmon, Peter Child,
Richard Dobbs, and Laxman Narasimhan, “Winning the $30
trillion decathlon: Going
for gold in emerging markets,” McKinsey Quarterly, August
2012, both available on
mckinsey.com.
2 Next year, the McKinsey Global Institute will publish Trend
Break, a book-length
treatment of the issues in this article and related shifts under
way in the global economy.
for the first time in more than 200 years, emerging markets
contributed more to global economic growth than developed
ones
did. By 2025, emerging markets will have been the world’s
prime
growth engine for more than 15 years, China will be home to
more
5. large companies than either the United States or Europe, and
more
than 45 percent of the companies on Fortune’s Global 500 list
of
major international players will hail from emerging markets—
versus
just 5 percent in the year 2000.
The new wave of emerging-market companies now sweeping
across
the world economy is not the first. In the 1970s and 1980s,
many
US and European incumbents were caught unaware by the swift
rise
of Japanese companies that set a high bar for productivity and
innovation. More recently, South Korean companies such as
Hyundai
and Samsung have shaken up the leading ranks of high-value-
added industries from automobiles to personal electronics. The
dif-
ference today is that new competitors are coming from many
countries across the world and in numbers that far outpace those
of
past decades. This new wave will be far tougher on some estab-
lished multinationals. The shift in the weight of the global
economy
toward emerging markets, and the emergence of nearly two
billion
consumers who for the first time will have incomes sufficient to
support significant discretionary spending, should create a new
breed of powerful companies whose global expansion will take
place
on the back of strong positions in their home markets.
Within those markets, the locus of economic activity is also
shifting,
6. particularly in China (Exhibit 1). The global urban population is
growing by 65 million a year, and nearly half of global GDP
growth
between 2010 and 2025 will come from 440 cities in emerging
markets. Ninety-five percent of them are small and medium-
sized
cities that many executives haven’t heard of and couldn’t point
to on a map: not Mumbai, Dubai, or Shanghai, of course, but
Tianjin
(China) and Porto Alegre (Brazil) and Kumasi (Ghana), among
many others. Hsinchu, in northern Taiwan, is already the fourth-
largest advanced-electronics and high-tech hub in the China
region. In Brazil, the state of Santa Catarina, halfway between
São
Paulo and the Uruguayan border, has become a regional hub
for electronics and vehicle manufacturing, hosting billion-dollar
companies such as WEG Indústrias.
3
4
Technology and connectivity
From the mechanization of the Industrial Revolution to the
computer-
driven revolution that we are living through now, technological
innovation has always underpinned economic change and
disrupted
the way we do things. But today is different—because we are in
the “second half of the chessboard.” The phrase comes from the
story
told by Ray Kurzweil, futurist and director of engineering at
Google,
about the inventor of chess and the Chinese emperor. The
7. inventor
asked to be paid in rice: a single grain on the first square, two
on the
second square, four on the third, and so on. For the first half of
the chessboard, the inventor was given spoons of rice, then
bowls, and
then barrels. The situation changed dramatically from there.
According to one version of the story, the cost of the second
half of
Exhibit 1
Previously unknown cities are becoming significant economic
players in
many emerging markets, particularly China.
Q3 2013
Trend Breaks
Exhibit 1 of 2
New entrants into
global top 200
Los Angeles ($731 billion)
Singapore ($222 billion)
Bogotá ($84 billion)Already in 2010
global top 200
Global top 200 cities in China, in
terms of projected 2025 GDP
By 2025, will exceed nominal 2010 GDP of . . .
Kunming
10. Hefei
Zhengzhou
Baotou
Urumqi
Zhongshan
Source: McKinsey Global Institute analysis
5
the chessboard bankrupted the emperor as the continued
doublings
ultimately required 18 million-trillion grains of rice, enough to
cover
twice the surface area of the Earth. Similarly, the continuation
of
Moore’s law means that the next 18 months or so will bring a
doubling
of all the advances in computational power and speed we’ve
expe-
rienced from the birth of the transistor until today. And then it
will
happen again. We’re accustomed to seeing Moore’s law plotted
on
a logarithmic scale, which makes all this doubling look smooth.
But
we don’t buy computers logarithmically. As power increases,
prices
decrease, devices proliferate, and IT penetration deepens,
aggregate
11. computing capacity surges at an eye-popping rate: we estimate
the
world added roughly 5 exaflops of computing capacity in 2008
(at a
cost of about $800 billion), more than 20 in 2012 (to the tune of
just
under $1 trillion), and is headed for roughly 40 this year
(Exhibit 2).
These extraordinary advances in capacity, power, and speed are
fueling the rise of artificial intelligence, reshaping global
Exhibit 2
Annual additions to global business and consumer
computing power, exaflops1
2010 200520001995199019851980
45
35
40
30
25
20
15
10
5
12. 0
2014
Businesses and consumers will add roughly 40 exaflops of
computing
capacity in 2014, up from 5 in 2008 and less than 1 in 2005.
Q3 2014
Management intuition
Exhibit 2 of 3
1 An exaflop is 1 quintillion (10 to the 18th power) floating-
point operations per second.
Source: William D. Nordhaus, “Two centuries of progress in
computing,” Journal of Economic History, 2007,
Volume 67, Number 1, pp. 128–59; IDC; US Bureau of
Economic Analysis; McKinsey analysis
6
manufacturing,3 and turbocharging advances in connectivity.
Global flows of data, finance, talent, and trade are poised to
triple in
the decade ahead, from levels that already represent a massive
leap
forward.4 For example, less than 3 percent of the world’s
population
had a mobile phone and less than 1 percent was on the Internet
20 years ago. Today, more than two-thirds of the world’s
population
has access to a mobile phone, and one-third of it can
communicate
on the Internet. As information flows continue to grow, and new
13. waves
of disruptive technology emerge, the old mind-set that
technology
is primarily a tool for cutting costs and boosting productivity
will be
replaced. Our new intuition must recognize that businesses can
start and gain scale with stunning speed while using little
capital, that
value is shifting between sectors, that entrepreneurs and start-
ups
often have new advantages over large established businesses,
that the
life cycle of companies is shortening, and that decision making
has
never had to be so rapid fire.5
Aging populations
Simultaneously, fertility is falling and the world’s population is
graying dramatically (Exhibit 3). Aging has been evident in
developed
economies for some time, with Japan and Russia seeing their
pop-
ulations decline. But the demographic deficit is now spreading
to China
and will then sweep across Latin America. For the first time in
human history, the planet’s population could plateau in most of
the world and shrink in countries such as South Korea, Italy,
and Germany.
Thirty years ago, only a few countries had fertility rates
considerably
below those needed to replace each generation (approximately
2.1 children per woman), comprising only a small share of the
global
population. But by 2013, about 60 percent of all people lived in
such
14. countries.6 This is a sea change. Germany’s Federal Statistical
Office
expects that by 2060 the country’s population will shrink by up
to
3 See Katy George, Sree Ramaswamy, and Lou Rassey, “Next-
shoring: A CEO’s guide,”
McKinsey Quarterly, January 2014, mckinsey.com.
4 For more, see Global flows in a digital age: How trade,
finance, people, and data connect
the world economy, McKinsey Global Institute, April 2014, on
mckinsey.com.
5 See Martin Hirt and Paul Willmott, “Strategic principles for
competing in the digital age,”
McKinsey Quarterly, May 2014, mckinsey.com.
6 Michael S. Teitelbaum and Jay Winter, “Low fertility rates—
Just a phase?,” YaleGlobal
Online, July 9, 2013, yaleglobal.yale.edu.
7
one-fifth and that the number of people of working age will fall
to 36 million (from roughly 50 million in 2009). Thanks to
rigorous
enforcement of the one-child policy, the size of China’s core,
working-age population probably peaked in 2012. In Thailand,
the
fertility rate has fallen from 6.1 in 1960 to 1.4 in 2012. These
trends have profound consequences. Without a boost in
productivity,
a smaller workforce will mean lower consumption and constrain
15. the rate of economic growth. (For more on these dynamics, see
“A
productivity perspective on the future of growth,” on
mckinsey.com.)
The great collision
Declaring an inflection point, particularly when the underlying
forces
at work have been operating for some time, is a major claim.
What
justifies it, we believe, isn’t just the growing pace and scale of
these
forces, but the ways in which they are coming together to
change
the dynamics we are accustomed to experiencing on both the
demand
and the supply side of the global economy.
Exhibit 3
Number of workers per dependent,
ratio of working-age population (aged 15–64) to dependent
population (aged 0–14 and over 65)
2040 203020202010200019901980197019601950
3.0
2.5
2.0
1.5
1.0
16. 2050
Aging populations in much of the developed world and China
will
create long-term growth headwinds.
Q3 2014
Management intuition
Exhibit 3 of 3
Source: United Nations population statistics; McKinsey analysis
India
Developed
economies
China
Today Projected
Less developed
economies
8
7 In 2013 dollars.
On the demand side, since the 1990s we’ve been enjoying a
virtuous
cycle of export-led emerging-market growth that created jobs,
raised
incomes, and generated enormous opportunities in those
markets,
17. while also reducing prices for goods in developed ones and
enabling
faster consumption growth in the West. For example, in the
United
States, real prices for nonpetroleum imports fell more than 30
percent
between the early 1990s and today. As emerging markets get
richer,
it will be harder for them to play the low-cost-labor arbitrage
game,
making it critical for local consumers to emerge as growth
drivers
in place of ever-rising exports to developed markets. It will also
be
harder for Western consumers to continue enjoying de facto
gains
in living standards resulting from ever-falling import prices. As
all
this happens, trade between emerging markets, already on the
rise,
should continue growing in importance.
On the supply side, we’ve been operating for many years on a
two-
track productivity model, with developed markets continually
pushing
forward and emerging markets playing catch-up. Emerging
markets
are still less productive than developed ones, and those with
capital-
intensive catch-up models will find them difficult to maintain as
their economies become more consumer and service oriented.
As
anyone who has seen row after row of empty brand-new high-
rise
apartments in overbuilt Chinese fringe cities can attest, the
18. transition
from investment-led growth is unlikely to be smooth, even for
countries like China with explicit policies aimed at shifting to
more
consumer- and service-oriented economies. On the other hand,
digitization and mobile technologies should provide a platform
for
product and service innovation, as we are already seeing in
Africa,
where 15 percent of transactions are carried out via mobile
banking
(versus 5 percent in developed markets), and in China, where
Alibaba
has proved that consumer online markets can take on
unprecedented
scope and scale.
How these interdependencies in supply and demand will play
out is
far from clear. We’ve modeled optimistic and pessimistic global
GDP scenarios for a decade from now. They diverge by more
than
$17 trillion,7 a spread approaching the size of current US GDP.
Variables at play include the pace and extent of the shift to
emerging-
market consumers as the critical global growth engine, the
adjustment
of developed markets to a world where they can no longer draft
9
off the combined benefits of low-cost imports and low-cost
capital
enabled by emerging markets, and the emergence of new
19. produc-
tivity solutions as developed and emerging markets alike try to
advance the frontier in response to their demographic and other
growth challenges.
It’s likely that different regions, countries, and individuals will
have
different fates, depending on the strength and flexibility of their
institutions and policies. Indeed, we’re already seeing this in
portions
of Southern and Eastern Europe that remain mired in recession
and debt and in the United States, where some local
governments are
on the verge of failure as their economic bases can’t keep up
with
the needs of their aging populations. Similarly, as aging boosts
the
importance of productivity-led growth in many emerging
markets,
progress will be uneven because many known productivity
solutions
depend on effective regulatory regimes and market mechanisms
that are far from standard in emerging markets.
Given the multiple stresses that are occurring at once in the
global
economy, we should not expect uniform success—but neither
should
we become too pessimistic. The massive pressures created by
the
dynamism of emerging markets, technological change, and rapid
aging will help stimulate the next era of innovation and growth
in a variety of areas. They will include the more productive
natural-
resource use that will be necessary to support the world’s
growing
20. global consuming class, the more efficient use of capital, and
the more
creative management of talent.
Management implications
Emerging on the winning side in this increasingly volatile world
will depend on how fully leaders recognize the magnitude—and
the
permanence—of the coming changes and how quickly they alter
long-established intuitions.
Setting strategic direction
McKinsey research suggests that about two-thirds of a
company’s
growth is determined by the momentum—the underlying
growth,
inflation, income, and spending power—of the markets where it
competes. Harnessing market momentum in the years ahead will
10
require covering more geographies, more industries, and more
types
of competitors, prospective partners, and value-chain
participants—
as well as more governmental and nongovernmental
stakeholders.
Rather than thinking of a primary national market broken into
three
to five value segments, tomorrow’s strategist must comprehend
a
world where offerings may vary by city within a country, as
well as
21. by distribution channel and demographic segment, with aging
and
income inequality necessitating increasingly diverse
approaches.
All this will place a premium on agility: both to “zoom out” in
the
development of a coherent global approach and to “zoom in” on
extremely granular product or market segments.
The importance of anticipating and reacting aggressively to
discon-
tinuities also is rising dramatically in our increasingly volatile
world.
That means monitoring trends, engaging in regular scenario-
planning
exercises, war-gaming the effects of potential disruptions—and
responding rapidly when competitive conditions shift. For
example,
few of the traditional mobile-phone manufacturers protected
themselves against Apple’s disruption via the iPhone. Samsung,
however, managed to turn that revolution into an opportunity to
rise
dramatically in the mobile-phone league tables.
Finally, the strategist increasingly needs to think in multiple
time
frames. These include a company’s immediate tactics and
ongoing
improvements to counteract new competitive threats, market
selection and emphasis given current capabilities and
competitive
positions, investments to enhance capabilities within the current
strategic construct and to enable entry into adjacent markets,
and,
for the longest term, the selection and pursuit of new, long-
lived
22. capabilities. The latter point is worthy of emphasis—advances
in tech-
nology and the interconnectedness of geographic and product
markets make the half-life of “normal” competitive advantages
very
short indeed. This puts a premium on the selection and develop-
ment of difficult-to-replicate capabilities. (For more, see Dan
Simpson’s essay in “Synthesis, capabilities, and overlooked
insights: Next frontiers for strategists,” on mckinsey.com.)
Building new management muscle
It will be increasingly difficult for senior leaders to establish or
implement effective strategies unless they remake themselves in
the
image of the technologically advanced, demographically
complex,
geographically diverse world in which we will all be operating.
11
Everyone a technologist. Technology is no longer simply a
budget
line or operational issue—it is an enabler of virtually every
strategy.
Executives need to think about how specific technologies are
likely
to affect every part of the business and be completely f luent
about
how to use data and technology. There is a strong argument for
having a chief digital officer who oversees technology as a
strategic
issue, as well as a chief information officer, who has tended to
be
in charge of the nuts and bolts of the technology the company
23. uses.
Technological opportunities abound, but so do threats, including
cybersecurity risks, which will become the concern of a broader
group
of executives as digitization touches every aspect of corporate
life.
Managing the new workforce. Technology is increasingly
supplanting
workers, and the pace of IT innovation is transforming what
con-
stitutes work as well as how, when, and where we work. MGI
research
suggests that as many as 140 million full-time knowledge
workers
could be displaced globally by smart machines—at the same
time
aging workforces are becoming commonplace and labor
shortages
are emerging for pockets of technical expertise. New priorities
in this
environment include ensuring that companies are using machine
intelligence in innovative ways to change and reinvent work,
building
the next-generation skills they need to drive the future’s tech-
led
business models, and upskilling and retraining workers whose
day-to-
day activities are amenable to automation but whose
institutional
knowledge is valuable. (For more on artificial intelligence, see
“Manager
and machine: The new leadership equation,” on mckinsey.com.)
For workers with more replicable skills, there’s a danger of
doing
24. less well than their parents—which will create social stresses
and
challenge managers trying to energize the entire workforce,
including
employees dissatisfied about falling behind. Developed and
emerging markets will experience different flavors of these
issues,
making the people side of the equation particularly challenging
for geographically dispersed organizations. (For more, see “The
past
and future of global organizations,” on mckinsey.com.)
Rethinking resources. The convergence of IT and materials
science
is spawning a surge in innovation that will dramatically change
when, where, and how we use natural resources. In their new
book
Resource Revolution, our colleague Matt Rogers and his
coauthor,
12
McKinsey alumnus Stefan Heck, argue that combining
information
technology, nanoscale materials science, and biology with
industrial
technology will yield substantial resource-productivity
increases.
Taken together, those improvements represent an extraordinary
wealth-
creation opportunity and will be the key to achieving high-
productivity
economic growth in the developing world to support billions of
new
25. members of the global middle class. Capturing these resource-
technology opportunities will require new management
approaches,
such as substitution (replacing costly, clunky, or scarce
materials
with less scarce, cheaper, and higher-performing ones),
optimization
(embedding software in resource-intensive industries to
improve,
dramatically, how companies produce and use scarce resources),
and
virtualization (moving processes out of the physical world).8
Breaking inertia
Change is hard. Social scientists and behavioral economists find
that we human beings are biased toward the status quo and
resist
changing our assumptions and approaches even in the face of
the
evidence. In 1988, William Samuelson and Richard Zeckhauser,
eco-
nomists at Boston University and Harvard, respectively,
highlighted
a case in which the West German government needed to relocate
a
small town to mine the lignite that lay beneath. The authorities
suggested many options for planning the new town, but its
citizens
chose a plan that looked “extraordinarily like the serpentine
layout
of the old town—a layout that had evolved over centuries
without
(conscious) rhyme or reason.”9
Businesses suffer from a surprising degree of inertia in their
decisions
26. about how to back up strategies with hard cash to make them
come
to fruition. Research by our colleagues showed that between
1990 and
2010, US companies almost always allocated resources on the
basis
of past, rather than future, opportunities. Even during the global
recession of 2009, this passive behavior persisted. Yet the most
active
companies in resource allocation achieved an average of 30
percent
higher total returns to shareholders annually compared with the
least
8 For more, see Stefan Heck and Matt Rogers, “Are you ready
for the resource revolution?,”
McKinsey Quarterly, March 2014, mckinsey.com.
9 See William Samuelson and Richard Zeckhauser, “Status quo
bias in decision making,”
Journal of Risk and Uncertainty, 1988, Volume 1, Issue 1.
13
active.10 The period ahead should raise the rewards for moving
with agility and speed as digitization blurs boundaries between
industries and competition in emerging markets heats up.
It would be easy, though, for organizations and leaders to
become
frozen by the magnitude of the changes under way or to tackle
them
on the basis of outdated intuition. Taking the long view may
help.
27. In 1930, the great British economist John Maynard Keynes
boldly
predicted that 100 years on, the standard of living in
progressive
countries would be four to eight times higher. As it turned out,
the
upper end of his optimistic expectation turned out to be closer
to the
truth. Those who understand the depth, breadth, and radical
nature
of the change and opportunity that’s on the way will be best
able
to reset their intuitions accordingly, shape this new world, and
thrive.
The authors would like to acknowledge the contributions of
Ezra Greenberg,
Chip Hughes, James Manyika, Catherine Tilley, and Jonathan
Woetzel to
this article.
Richard Dobbs is a director of the McKinsey Global Institute,
where
Sree Ramaswamy is a senior fellow; Elizabeth Stephenson is a
principal
in McKinsey’s Southern California office; and Patrick Viguerie
is a
director in the Atlanta office.
10 See Stephen Hall, Dan Lovallo, and Reinier Musters, “How
to put your money where
your strategy is,” McKinsey Quarterly, March 2012; and Mladen
Fruk, Stephen Hall, and
Devesh Mittal, “Never let a good crisis go to waste,” McKinsey
Quarterly, October 2013,
both available on mckinsey.com.