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s s t ra t e g y :C o m p e t i n g i n t h e p re se n t , p re p a r i n g fo rt h e f u t u re .
PRESENT FUTURE
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- Gro w th m o d e s o rg a n i c g ro w t h ,
R&D
co m p e t i t i v e a d v a n t a g e ?
P r io r i t i e s fo r c a p i t a le x p e n d i t u re ,
- Wha t i st h e b asi so f o u r
G u i d e l i n e s fo rd e v e lo p m e n t
- Pe r fo rm a n c e g o a l s Ho w ar e wg co m p e t i ng ? H
o w wi l l wg ge t th e r e?
- Ve rt i ca lsco p e M iss i o
n st a t e m e n t
- Ge o g ra p h i c a l sc o p e W
ha t d o w e w o n t to a c h ie ve ?
- Pro d u c t m a rk e t sc o p e
V i s i o n st a t e m e n t
Wh e r e or e we co m p e t i ng ? W
h a t do we wo n t to be c o m e ?
St r a t e g y a s p o s i t i o n i . g S t r a t . G y a s D i r e c t i o n
(F igu r e 1. 51.
p u r p o s e u f t h e ĥ r m ( rn i s s i o n ), w ha t i t s e e k s t o b e c o m e (p i s i n ) a n d s p e c i ĥ c p e r fo r m a n c e t a r g e t s
t h e f u t u r e a n d d e t e r m i n i n g h u w t h e y w i l l h e a c h i e v e d . Fu t u r e o b je c t i v e s r e l a t e t o t h e o v e r a l l
c o m p e r i n g ŕ t ] r t o m o r r o w . T h i£ d y n a m i Ľ c o n c Ľ p t n f s t r a t e g y i n v o l v e s e s t a h l i s h i n g o b je c t i v e s f o r
Ht l wcve )i r r a r c g y i s n o t s i m p l y a b o u r c o m p c c i n g f o r t o d a y i t i s a l s o c o n c e r n e d
w i t h
w h i c h i t n p c r l r c s i n d t h c v Ľ r r i c a l r a n g e ()f t h e a c t i v i t i e s i t u
n d e r t a k e s .
l u Ľ a r c d , r hĽ p n )J u c r x i r s u p p l ie s , r hc c u s t o m e r w o u p s i r t a r g c r x , t hc c o u n t r i e s a n d l o c a l i t i e s i n
q u e s t i o n h J h m u l r i p l c d i m c n s i n n s . I r r e l a t e s t o t h e i n LI u s r r y n r i n d u s t r i e s i n w h i c h r h c f i r m i s
p r o v i d e r h c b n x i x l i p u n w h i c h w e c a n d c s Ľ r i h e t h e s t r a t e g y r h a r a f i r m i \ p u r s u i n g . T h e w h e r e
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a n d ' l l n w i \ i 【 Ľ o m p c r i n R ?
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a l Ho
Ho w d o w e d e sc r i b e a f i r m 's s t r a t e g y ?
rh ť r l n c n ï h u \ n c s s c s n w h i Ľ h i t Ľ a n h c s l c c c s s t
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u l .
H n r c c s o t C (mm P c l l ï l v c , \ t l v a n t a R c i n t I r h c n a t u r e n f . I ri r n
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\ Ľ H 1 p ľ t i r i v c . ï L Iv a n r , I HŤ LI c r c n n i n ľ \
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a r c n t r r t w i n r \ l : r h ľ s c o p e . .t J h r m
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\ 1, u ų i n c s s h , 1 1 i m p l i c i t n n t q t t r r r h ľ
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Scanned by CamScanner6 8
i d e a s o r w o r ds , b u t
b e c a u s e t h e t e x t s r e l y o n
s u h t l e c l u e s t o l e t
c u l t t e x t s , i t i s n o t j u s
t b e c a u s e t h e t e x t s c o n t a i n u n f a m i l i a r
Fr e q u e n t l y ,
w h e n s t u c le n t s h a v e t r o u b <e u
n d e r s t a n d i n g cl i t f
w h e n i t c o Ln e s t o t h e
c h a l l e n g i n g w o r k s a s s i g n e d i n s c h o o l .
t h e y a p p
e a r i n t h e t e x t s y o LI r e a d
- a n e s p e c i a l l y i m p o r t a n t s k i l l
o w n w r i t i n g ,
l e t
’
s l o o k a t h o w t o r e c o g n i z e s u c h s i g n a l s w h e n
B e f o r e e x a m i n i n g h o w t o s
i g n a l w h o i s s a y i n g w h a t i n y o u r
1N T H E T E X T S Y O U R E A D
D E T E R M I N E W H O I S S A Y I N G W H A T
y o u s a y w i t h o u t c o n f u
s i n g r e a d e r s a h o u t w h o i s s a y i n g w h a t ,
t a k e s u p t h e p r o h l e m o f 】T l o
v i n g f r o m w h a t t he y s a y t o w h a t
v ie w a n el w h e n y c ) u a r e s t a t i n g s o m e o n ( : e ls e
’
s . T h i s c h a p t e r
a b l e t o t e l l a t e v e r y p o i n t w h e n y a u a r e e
x p r e s s i n g y
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c l i a l o g u e w i t h o t h e r s , i t i s e x t
r e m e ly i m p o r t a n t : t h a t r e a d e r s be
I F G O O D A C A I ) E M ˇ C W R i T I N G i n v o
l v e s p u t t i n g y o u r s e l f i n t o
f • o r n Vh a t T h e y S a y
D i s t i n g u i s hi n g r v h a t
Y o u Sa )
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s h o w s r h n r M a r n s i o s ó e s n o n e c e s s a r i l y a g
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I n r hc o p e n i n g s c n r c n c e , UiJ r i n s t a n c e , ( h e p h r a s e
"
o r s o i t
H n g u i s h ó c o m m o n v i e w he o p p o s e s Do m h i s o w n p
o s ó o n .
s e v e r a l s o
p h i s t i c i l r c , J r h e t o r i c a l m o v e s h e r e t h a t h e l p h i m d
i
A l t h ( ) u g h M n n t s i cì s 1n a k e s i t l o o k e a s y , h e i s a c t u a l l y m a k i n g
T h c P o m e s a n d E c o n o n ˜ c s o f C l a s s i n t h e U . S .
"
G R E G o R Y M A N T s . o s ,
"
R e w a r d s a n d O p p o r t u n i t i e s
n n ó . c o f h c s o c m y w c h v c h .
h c • w i n L +c m • n ü n i n g h m h o u r v e r y b e i n g i n t h e.
Multi-grade schooling has a long history and was initially the most common model of elementary education. In the Philippines, the first mission schools organized classrooms with multiple grades out of necessity in remote rural communities. The multi-grade program in Philippine education (MPPE) aims to improve instruction quality in multi-grade schools through curriculum development, teacher training, and support programs like demonstration schools, learning enhancement initiatives, and recognition of exemplary multi-grade teachers.
Healthcare Improvement Scotland aims to continuously improve healthcare quality and safety in Scotland. It runs national improvement programs focused on areas like patient safety, healthcare associated infections, and person-centered care. Through measurement and data collection, the Scottish Patient Safety Program has demonstrated significant reductions in infection rates, improved compliance with best practices, and decreased mortality and length of stay in critical care units. The goal is to spread effective improvement strategies nationwide to benefit all Scottish patients.
This study analyzed data from the 1988 National Education Longitudinal Study to examine relationships between school violence and student achievement in reading and math among eighth graders. School violence was measured through personal behavior, victimization, and perception of violence. Higher incidence of negative personal behavior was found to negatively impact achievement, while victimization and perception of violence had lower levels of effect. Background characteristics like sex, race, socioeconomic status were also analyzed. The study identified variables related to school violence and their association with student achievement.
A buffer overflow occurs when a program writes data to a buffer that overruns the boundary and overwrites adjacent memory. This can trigger execution of malicious code or alter how the program operates, potentially resulting in crashes, incorrect results, or security breaches. As an ethical hacker, you must understand when and how buffer overflows occur to perform penetration tests and prevent attacks.
The document describes HELPHUMAN EMERGENCY LIFE POINT, an outdoor digital signage terminal that provides life-saving defibrillation functionality along with advertising display. The terminal uses cutting-edge LCD and Apple computer technology to provide bright, high-definition video displays between 55-84 inches in size. It is designed for tough, all-weather outdoor use and remote monitoring and control. In addition to advertising, the terminal integrates with emergency response networks and provides public security features like surveillance cameras.
This document discusses the concept of "blue ocean strategy" and uses Cirque du Soleil as an example. It notes that Cirque du Soleil was able to achieve huge revenues in a declining circus industry by creating an uncontested market space rather than competing directly. It reinvented the circus experience as an artistic, sophisticated show for adults. This allowed Cirque du Soleil to break the tradeoff between cost and differentiation, achieving both low costs and high differentiation. The document argues that strategies should focus on reconstructing market boundaries rather than competing within existing boundaries. Creating a differentiated value proposition that is difficult for others to imitate is key to success with a blue ocean strategy.
Scanned by CamScanner6 8i d e a s o r w o r ds , b u t.docxkenjordan97598
Scanned by CamScanner6 8
i d e a s o r w o r ds , b u t
b e c a u s e t h e t e x t s r e l y o n
s u h t l e c l u e s t o l e t
c u l t t e x t s , i t i s n o t j u s
t b e c a u s e t h e t e x t s c o n t a i n u n f a m i l i a r
Fr e q u e n t l y ,
w h e n s t u c le n t s h a v e t r o u b <e u
n d e r s t a n d i n g cl i t f
w h e n i t c o Ln e s t o t h e
c h a l l e n g i n g w o r k s a s s i g n e d i n s c h o o l .
t h e y a p p
e a r i n t h e t e x t s y o LI r e a d
- a n e s p e c i a l l y i m p o r t a n t s k i l l
o w n w r i t i n g ,
l e t
’
s l o o k a t h o w t o r e c o g n i z e s u c h s i g n a l s w h e n
B e f o r e e x a m i n i n g h o w t o s
i g n a l w h o i s s a y i n g w h a t i n y o u r
1N T H E T E X T S Y O U R E A D
D E T E R M I N E W H O I S S A Y I N G W H A T
y o u s a y w i t h o u t c o n f u
s i n g r e a d e r s a h o u t w h o i s s a y i n g w h a t ,
t a k e s u p t h e p r o h l e m o f 】T l o
v i n g f r o m w h a t t he y s a y t o w h a t
v ie w a n el w h e n y c ) u a r e s t a t i n g s o m e o n ( : e ls e
’
s . T h i s c h a p t e r
a b l e t o t e l l a t e v e r y p o i n t w h e n y a u a r e e
x p r e s s i n g y
o u r o w n
c l i a l o g u e w i t h o t h e r s , i t i s e x t
r e m e ly i m p o r t a n t : t h a t r e a d e r s be
I F G O O D A C A I ) E M ˇ C W R i T I N G i n v o
l v e s p u t t i n g y o u r s e l f i n t o
f • o r n Vh a t T h e y S a y
D i s t i n g u i s hi n g r v h a t
Y o u Sa )
"
A N D Y E T
I
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10 s i
g n a l t hn t i t i s n o r h i s o w n . H ( t h e n f u > ( h e r d
i s t Am c e s
r r l 1c . M I n r s i o s a l s ( ì
1
- l n c e s t h i s o p c n i n p v i e w i n q
u o t a t i o n m
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"
t o he
w i t h t h c v i e w h e i s d c s c r i h i n g s i n c e w r i t e r s n o r m a
l ly d o n
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t p r
e
VOUh s e c n i
"
s h o w s r h n r M a r n s i o s ó e s n o n e c e s s a r i l y a g
r e e
I n r hc o p e n i n g s c n r c n c e , UiJ r i n s t a n c e , ( h e p h r a s e
"
o r s o i t
H n g u i s h ó c o m m o n v i e w he o p p o s e s Do m h i s o w n p
o s ó o n .
s e v e r a l s o
p h i s t i c i l r c , J r h e t o r i c a l m o v e s h e r e t h a t h e l p h i m d
i
A l t h ( ) u g h M n n t s i cì s 1n a k e s i t l o o k e a s y , h e i s a c t u a l l y m a k i n g
T h c P o m e s a n d E c o n o n ˜ c s o f C l a s s i n t h e U . S .
"
G R E G o R Y M A N T s . o s ,
"
R e w a r d s a n d O p p o r t u n i t i e s
n n ó . c o f h c s o c m y w c h v c h .
h c • w i n L +c m • n ü n i n g h m h o u r v e r y b e i n g i n t h e.
Multi-grade schooling has a long history and was initially the most common model of elementary education. In the Philippines, the first mission schools organized classrooms with multiple grades out of necessity in remote rural communities. The multi-grade program in Philippine education (MPPE) aims to improve instruction quality in multi-grade schools through curriculum development, teacher training, and support programs like demonstration schools, learning enhancement initiatives, and recognition of exemplary multi-grade teachers.
Healthcare Improvement Scotland aims to continuously improve healthcare quality and safety in Scotland. It runs national improvement programs focused on areas like patient safety, healthcare associated infections, and person-centered care. Through measurement and data collection, the Scottish Patient Safety Program has demonstrated significant reductions in infection rates, improved compliance with best practices, and decreased mortality and length of stay in critical care units. The goal is to spread effective improvement strategies nationwide to benefit all Scottish patients.
This study analyzed data from the 1988 National Education Longitudinal Study to examine relationships between school violence and student achievement in reading and math among eighth graders. School violence was measured through personal behavior, victimization, and perception of violence. Higher incidence of negative personal behavior was found to negatively impact achievement, while victimization and perception of violence had lower levels of effect. Background characteristics like sex, race, socioeconomic status were also analyzed. The study identified variables related to school violence and their association with student achievement.
A buffer overflow occurs when a program writes data to a buffer that overruns the boundary and overwrites adjacent memory. This can trigger execution of malicious code or alter how the program operates, potentially resulting in crashes, incorrect results, or security breaches. As an ethical hacker, you must understand when and how buffer overflows occur to perform penetration tests and prevent attacks.
The document describes HELPHUMAN EMERGENCY LIFE POINT, an outdoor digital signage terminal that provides life-saving defibrillation functionality along with advertising display. The terminal uses cutting-edge LCD and Apple computer technology to provide bright, high-definition video displays between 55-84 inches in size. It is designed for tough, all-weather outdoor use and remote monitoring and control. In addition to advertising, the terminal integrates with emergency response networks and provides public security features like surveillance cameras.
This document discusses the concept of "blue ocean strategy" and uses Cirque du Soleil as an example. It notes that Cirque du Soleil was able to achieve huge revenues in a declining circus industry by creating an uncontested market space rather than competing directly. It reinvented the circus experience as an artistic, sophisticated show for adults. This allowed Cirque du Soleil to break the tradeoff between cost and differentiation, achieving both low costs and high differentiation. The document argues that strategies should focus on reconstructing market boundaries rather than competing within existing boundaries. Creating a differentiated value proposition that is difficult for others to imitate is key to success with a blue ocean strategy.
The document proposes 5 adjustments to the Hobart Rivulet Park master plan to better highlight the natural and cultural heritage of the area. It suggests:
1. Showing the trail along the old rivulet course where it meets Macquarie Street.
2. Changing the preferred pedestrian route from Elizabeth Street grid to along the rivulet course for better access.
3. Allowing a concept plan for a "Buried Brook Promenade" trail along the rivulet from the docks to the CBD.
4. Noting the convicts who camped by the rivulet at the mall as an important heritage value.
5. Using "urban plastic surgery" to connect the
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A n o th e r th in
g th a t s tr ik e s m e a b o u t th e w a v e s is th a t th e
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b e a c h e s th e
y h a v e . I h a v e h e a r d th a t th e ir b e a c h e s h a v e c o r a l c lo s e
internet tr a v e l s ite s in o r d e r to d e te r m in e h o w
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v a c a tio n . R igh t n o w I a m c o n s id e r in
g a b r o c h u r e f r o m B o r a - B o r a .
b e a c h e s . A n d tw ic e a
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ju s t c o m e u p o n y o u . If y o u a r e n im b le , y o u c a n c a tc h th e m
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th e g r e
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h t o f th e w a v e s a s th e y a p p r o a c h .
c a n so m
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g
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Forming part of the Yoma Central project, the Peninsula Residences Yangon is a collection of luxury private homes for sale that blends heritage and modern design with the Peninsula brand’s refined elegance. The Peninsula Residences Yangon which comprises 112 units offers the choice of two-bedroom, three-bedroom, four-bedroom, and penthouse serviced residences across its 26 floors together with a unique menu of dedicated facilities and amenities.
Scanned by CamScannerG o o d w M P r e p a id r e n t.docxkenjordan97598
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G o o d w M P r e p a id r e n t
In te r e s t p a y a b le
E q u ip m e n t
C a s h . ¢ S u p p l ie s
B u ild i n g s
M o r tg a g e p a y a b
le
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A c c u m u la te d d e p r e c ia tio n
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A c c o u n ts r e c e iv a b le , _ In v e n t o r y
A c c o u n ts p a y a b le
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b le
b a la n c e s h e e t .
C la s s ifY e a c h o f t h e fo llo w in g ĥ n a n c ia l s ta te m e n t ite m s ta k e n fr o m M o r d ic a C o r p o r a tio n ķ
In s t n łc t io n s
In ta n g ib le a s s e ts ( I A )
p r o p e r ty , p la n t , a n d e q u i p
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t e r m in v e s t m e n t s ( L T I ) L o n g
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t e r m lia b ilit ie s ( L T L )
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s h .
E 2 - ı T h e fo llo w in g a r e lh e m a jo r b a la n c e s h e e t ç la
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The document appears to be a cover letter and resume submitted by Aisha Isaacs for a job application. Some key details:
- Aisha Isaacs is applying for a position in response to an advertisement she saw.
- She has 18 years of experience as an administrative assistant and details her skills in office administration, communication, task prioritization, and maintaining confidentiality.
- Her resume provides details of her educational background and work history in various administrative roles over the past decade.
The document describes a proposed Telephone Billing System project that aims to automate the telephone billing process. The key objectives of the new system are to reduce manual work, make maintenance and information retrieval easier, and provide greater security, flexibility and user-friendliness compared to the existing manual process. The new system will use Java for the front-end and SQL for the back-end database. It will feature modules for updating customer information, performing calculations and deductions, and generating bills. While the new system provides benefits over the existing manual process, there is still room for further improvements such as adding an online component and better security features.
The document discusses several environmental concerns and provides an activity for students. It outlines issues like genetic modification of crops, waste production, water and air pollution, and deforestation. These problems are negatively impacting forests, oceans, and the planet's temperature. The activity asks students to choose a spot in their home, draw what it currently looks like and their vision to transform it into a garden using reusable materials. The goal is for students to contribute positively to the environment.
This document discusses pain (dolor) from physiological and psychological perspectives. Physiologically, pain is classified based on its origin (somatic, visceral, neuropathic), characteristics (acute, chronic, superficial, deep), and transmission pathways. Psychologically, pain can have subjective and psychosomatic components. Medicaments and complementary therapies are proposed for treating different types of pain.
This document describes sports betting tools and systems offered by Zcode Lab that are claimed to help users profit from sports betting. It promotes various features including line reversal tools to see where smart money is going, oscillators to analyze team trends and pitcher matchups, power rankings to assess team strength over time, and automatic sports picks from statistical models. Access to these tools is provided through a Zcode VIP Club membership.
5 1 6 T o w a r d A l t e r n a t i v e s i n H e a l t h .docxalinainglis
5 1 6 T o w a r d A l t e r n a t i v e s i n H e a l t h C a r e
S o l o t n o n , H . A . 1 9 8 4 . T h e E x a r c i s e M y t D . N e w Y o r k :
H a r c o u r t B r a c e J o v a n o v i c h .
S p i l m a n , M . A . , A . C i o e t z , J . S c h u l t z , R . B e l l i n g h a m ,
a n d D . J o h n s o n . 1 9 8 6 . E f f e c t s o f a H e a l t h P r o m o -
t i o n P r c r g r a n t . J o u r n a l o f O c c u p a t i o n a l M e d i c i n e
2 8 : 2 8 . 5 - 8 9 .
S t e i n , . f . 1 9 8 5 . I n d u s t r y ' s N e w B o t t o m L i n e o n H e a l t h
Ciare Costs: Is Less Better? Hastings Center Report
l - 5 ( . 5 ) : l 4 * 1 8 .
S t e r l i r r g , J . D . , a r . r c l f . . f . W e i n k a m . 1 9 8 6 . E x t e n t , P e r -
s i s t e n c c a n c l C l o n s t a n c y o f t h e l { c a l t h y W o r k e r o r
H c r l t l . r y P e r s o n F . f f e c t b v A l l a n d S e l e c t e d C l a u s e s o f
Death. Journal of Occupational Medicine 28:348-
5 3 .
S y m e , L . S . , a n d L . F . B e r k m a n . 1 9 7 6 . S o c i a l C l a s s ,
Susceptibility and Illness. American Jonrnal of Epr
demiologl' I 04: l-8. ,
U.S. Department of Health, E,ducation, and !ilelfare.
1,979. Healthy People: The Surgeon General's Re-
port on Health Promotion and Disease Preuention.'Washingtorr.
'Walsl.r, D.C. 1984. Corporate Smoking Policies: A
Revrew and an Analysis. Journal of Ocarpational
M e d i c i n e 2 6 : 1 7 - 2 2 .
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p h y s i c i : r r r t r y i n g t o e x p l a i n t h e d i l c m r n a s o f t h e
r n o c l e r n p r a c t i c e < l f r r e d i c i n e :
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i n g r i v c r a n t l I h e e r t h c c r y o f l c l r o w n i n g m a n . S o I
j r r n r p i n t o t l i c r i v c r , p u t n 1 y r r r n s a r o u n c l h i m , p u l l
h i r n t o s h o r e a n c l a p p l y a r t i l i c i a l r c s p i r a t i o n . . f u s t
w l r c n h c b c g i n s t o b r c a t h c , t h e r c i s r r t o t h e r c r y f o r
h c l p . S o I j u m p i r r t o t l r c r i v e r , r c : r c h h i m , p u l l h i n r
t o s h o l c , a p p l v a r t i f i c i e l r c s p i r a t i o n , a r - r d t h e n j u s t
a s h e b c g i r r s t o b r e a t h e , r l n o t h e r c r y f o r h e l p . S o
b a c l < i n t l r c r i v e r r r g r r i n , r c r r c h i n g , p u l l i n g , a p p l y i n g ,
b r c a t h i n g a l i c l t h c n r u r o t h c r v e l l . A g a i n a n c l a g a i n ,
w i t h o u t e u .
Week 4 Assignment 2Self-assessment of Communication Skills.docxmelbruce90096
Week 4 Assignment 2
Self-assessment of Communication Skills
As a student studying healthcare administration and leadership in healthcare, you should be developing your own personal development plan to include a personal assessment of your communication skills.
Listening is an integral part of the communication process. Communication in the healthcare setting is vital. This includes communication between doctors and patients, doctors and nurses, clinicians and administrators, and so on.
Based on your learning, answer the following questions:
· Which topic of conversation makes you uncomfortable? What is the topic? Do you know why you find it difficult to talk about this topic?
<Enter your response here.>
· What do you do when you become uncomfortable during a conversation? Do you withdraw? Do you try to change the topic? Do you speak louder or softer? Do you begin to gesticulate?
<Enter your response here.>
· Have you had an occasion to talk to a very persuasive or very aggressive person? If you and this person hold different opinions, can you hold to your position? Are you easily “led” in a conversation?
<Enter your response here.>
· Are you flexible in a conversation? If a comment made by someone takes the conversation in an unexpected direction, can you adjust quickly? Can you assimilate new information, reassess your position, and continue the conversation?
<Enter your response here.>
· When entering into a conversation, do you attempt to eliminate potential distractions and interruptions?
<Enter your response here.>
· Do you consciously avoid having important conversations in high traffic public areas where environmental distractions are likely possible? Why?
<Enter your response here.>
· Do you put your cell phone in the silence mode when you are likely to have conversations? Why?
<Enter your response here.>
· Do you listen without interruption and sufficiently control the conversation to minimize interruption? Why?
<Enter your response here.>
· When engaged in a conversation, do you give your undivided attention to the matters being discussed? Why?
<Enter your response here.>
· When engaged in discussion, do you develop reflective questions pertinent to the conversation? Why?
<Enter your response here.>
· When engaged in discussion, do you make conscious eye contact? Why?
<Enter your response here.>
· When involved in conversations, are you cognizant of body language, both the individual you are conversing with and your own? Why?
<Enter your response here.>
· Do you have an understanding of body language gestures and posturing?
<Enter your response here.>
In a self-assessment summary, provide a list of your communication strengths and weaknesses. Also, provide a plan to address the weaknesses identified.
<Enter your response here.>
My Strengths
<Enter your response here.>
My Weaknesses
<Enter your response here.>
My Plan for Improving My Communication Skills
<Enter your response here.>
Page 1.
TMK.edu Traditional Media Buying Presentation: August 2015The Media Kitchen
This document provides an overview of traditional media buying, including television, radio, print, outdoor, and network upfronts. It shows the average time spent with different media, with digital surpassing TV in 2013. Television advertising strengths include immediate impact and building awareness, while limitations are competitive clutter and time-shifted viewing. For radio, strengths are local presence and low cost, while limitations are lack of visuals and limited reach. Print advertising includes magazines, with strengths being targeted demographics and quality reproduction, while limitations are longer lead times and costs.
Ansel Adams was an American photographer and environmentalist born in 1902 in San Francisco. He grew up exploring the natural landscapes around the Golden Gate. As a child, he was shy and had difficulties in school due to being deaf in one ear from an earthquake. He found joy in nature and taught himself to play piano. Though he intended to be a musician, he ultimately became a photographer known for his landscape and nature photos that helped spread awareness of environmental conservation.
Presented by Bruce Harwood: July 2016
Have you heard about traditional media but aren't quite sure what it is?
This session on how to plan and buy traditional media will give you some context on why advertisers use it and how you should think about it.
As each medium is different in its own way and we will explore the nuances of each and how they are adapting in today's digital landscape.
We are engaged in an exponentially growing cyber war that we are visibly losing. Within the next 3 years it has been estimated that the global cost will equal, or overtake, the UK GDP, and it is clear that our defences are inadequate and often ineffective. Malware and ransomer-ware continue to extort more money, and cause damage and inconvenience to individuals, organisations and society, whilst hacker groups, criminals and rogue states continue to innovate and maintain their advantage. At the same time, our defences are subverted and rendered ineffective as we operate in a reactive and prescriptive, after the fact, mode with no foresight or anticipation.
In any war it is essential to know and understand as much about the enemy as possible, it is also necessary to establish the truth and validity of any situation or development. Doing this in the cyber domain is orders of magnitude more difficult than the real world, but some of the relevant tools are now available or at an advanced stage of development. For example; fully automated fact checkers and truth engines have been demonstrated, whilst situational awareness technologies are commercially available. However, what is missing is some level of context assessment on a continual basis. Without this we will continue to be ‘blind-sided’ by the actions and developments of the attackers as they maintain their element of surprise along every line of innovation.
What do we need? In short ; a Context Engine that continually monitors networks, servers, routers, machines, devices and people for anomalous behaviours that flag pending attacks as behavioural deviations that are generally easy to detect. In the case of attacker groups we have observed precursor events and trends in network activity days ahead of some big offensive. However, this requires a shift in the defenders thinking and operations away for the reactive and short term, to the long term continual monitoring, data collection and analysis in order to establish threat assessments on a real time.
The behavioural analysis of people, networks and ITC, is at the core of our ‘Context Engine’ solution which completes the triangle of: Truth; Situation; Context Awareness to provide defenders with a fuller and transformative picture. Most of the known precursor elements of this undertaken have been studied in some depth, with some behavioural elements identified on real networks and some physical situations. The unknown can only add more accuracy!
This document is the CV of Stephen Kelleher, which outlines his education and qualifications, achievements, skills, and work experience. He has a Masters in Planning and Sustainable Development from University College Cork and a Bachelor of Architecture from University of Limerick. His experience includes working as an architectural assistant on commercial, education, and planning projects. He has received several awards and has experience in urban design, master planning, and presenting work.
Financial Statement Class 12th Accountancy topic explained in detailpriyaan122002
The financial statement is a fundamental concept in Class 12 Accountancy, serving as a critical tool for businesses to communicate their financial performance and position to stakeholders. This topic encompasses the preparation, analysis, and interpretation of financial statements, providing students with essential skills for understanding and managing business finances. Financial statements are formal records of the financial activities and position of a business, person, or entity. These statements are crucial for stakeholders, including investors, creditors, and management, to make informed decisions. The primary financial statements include the Balance Sheet, Income Statement (Profit and Loss Account), and Cash Flow Statement.
Beige Brown Minimal Organic Creative Project Presentation 2.pdfsugandhshrivastava17
Munching Millet is a startup that provides ready-to-eat millet products like millet oats, dosa batter, cookies, and idli batter. The products are gluten-free, nutritious, and affordable. The company was founded by four individuals and aims to promote the health benefits of millets. It faces competition from other millet companies but distinguishes itself by offering customization options and DIY millet mixes. The global millet market is valued at $11.53 billion currently and is projected to reach $14.43 billion by 2029.
Beige Brown Minimal Organic Creative Project Presentation 2.pdfsugandhshrivastava17
Munching Millet is a startup that provides ready-to-eat millet products like millet oats, dosa batter, cookies, and idli batter. The products are gluten-free, nutritious, and affordable. The company was founded by four individuals and aims to promote the health benefits of millets. It faces competition from other millet companies but distinguishes itself by offering customization options and DIY millet mixes. The global millet market is valued at $11.53 billion currently and is projected to reach $14.43 billion by 2029.
…if one of the primary purposes of education is to teach young .docxanhlodge
“…if one of the primary purposes of education is to teach young people the skills, knowledge, and critical awareness to become productive members of a diverse and democratic society, a broadly conceptualize multicultural education can have a decisive influence.” Textbook page 338.
What steps do you think schools can or should take to promote our democracy in today’s very diverse country?
Food festivals and celebrating a cultural holiday will not be accepted as an answer. Those are examples of tokenism to make the dominant culture feel like they are doing something. These two activities are fun and interesting, but not how we will strengthen our democracy.
.
✍Report OverviewIn this assignment, you will Document an.docxanhlodge
✍
Report Overview
In this assignment, you will
Document and reflect on your university education and on learning experiences outside of the university;
Articulate how your upper-level coursework is an integrated and individualized curriculum built around your interests; and
Highlight the experiences, skills, and projects that show what you can do.
A successful report submission will be the product of many hours of work over several weeks.
A report earning maximum available points will be a carefully curated and edited explanation of your work that provides tangible evidence of—and insights into—your competencies and capabilities over time. In each section of this report, you are (1) telling a story about your own abilities, and (2) providing specific examples and evidence that illustrate and support your claims.
✍
Required Report Sections
Here the sections are listed as they must appear in your final graded submission. You’ll arrange the sections in this order when
submitting
the final report BUT you won’t follow this order when
writing
drafts of each section.
Note that each section description contains a Pro Tip that tells you how to proceed with the work – what to attempt first, second, and third, etc.
❖ I. Statement of Purpose ❖
Step 1.
Read these four very different
examples of successful Statement of Purpose sections
.
Step 2.
Consider the differences in tone, style, level of detail etc. Your own statement of purpose may resemble one of these. Indeed, writing a first draft based on an example or combination of examples is a good idea. BUT don’t let these examples limit your thinking or personal expression. You may want to begin with a quote from a famous person, use a quote from your mom, or skip the quote. You may want to discuss your personal motivations or get right down to the facts. You may want to list your classes or discuss how your work-life led you to this path.
Step 3.
Write a rough draft – let’s call that Statement of Purpose 1.0. Write Statement of Purpose 1.0 as quickly as you can and then put it away until after you have completed most of the report. Forget about Statement of Purpose 1.0 until most of your report is at least in draft form.
Step 4.
Once you have a draft of all sections of your report, you are in a good position to revise Statement of Purpose 1. You are ready for Step 4. Take Statement of Purpose 1.0 out its dusty vault and hold it up to the sun. Ah. Now read your report draft and compare it to the claims you made in Statement of Purpose 1.0. Ask yourself these questions:
Does Statement of Purpose 1.0. accurately introduce my report?
Are there important ideas or representative experiences in the report that should be highlighted in the Statement of Purpose but aren’t? Remember this isn’t a treasure hunt where its your reader’s job to figure out what matters. It’s your job to show the reader what matters.
If Statement of Purpose 1.0. isn’t the best map it can be for th.
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The document proposes 5 adjustments to the Hobart Rivulet Park master plan to better highlight the natural and cultural heritage of the area. It suggests:
1. Showing the trail along the old rivulet course where it meets Macquarie Street.
2. Changing the preferred pedestrian route from Elizabeth Street grid to along the rivulet course for better access.
3. Allowing a concept plan for a "Buried Brook Promenade" trail along the rivulet from the docks to the CBD.
4. Noting the convicts who camped by the rivulet at the mall as an important heritage value.
5. Using "urban plastic surgery" to connect the
Scanned by CamScannerA n o th e r th ing th a t s tr ik.docxanhlodge
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Forming part of the Yoma Central project, the Peninsula Residences Yangon is a collection of luxury private homes for sale that blends heritage and modern design with the Peninsula brand’s refined elegance. The Peninsula Residences Yangon which comprises 112 units offers the choice of two-bedroom, three-bedroom, four-bedroom, and penthouse serviced residences across its 26 floors together with a unique menu of dedicated facilities and amenities.
Scanned by CamScannerG o o d w M P r e p a id r e n t.docxkenjordan97598
Scanned by CamScanner
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The document appears to be a cover letter and resume submitted by Aisha Isaacs for a job application. Some key details:
- Aisha Isaacs is applying for a position in response to an advertisement she saw.
- She has 18 years of experience as an administrative assistant and details her skills in office administration, communication, task prioritization, and maintaining confidentiality.
- Her resume provides details of her educational background and work history in various administrative roles over the past decade.
The document describes a proposed Telephone Billing System project that aims to automate the telephone billing process. The key objectives of the new system are to reduce manual work, make maintenance and information retrieval easier, and provide greater security, flexibility and user-friendliness compared to the existing manual process. The new system will use Java for the front-end and SQL for the back-end database. It will feature modules for updating customer information, performing calculations and deductions, and generating bills. While the new system provides benefits over the existing manual process, there is still room for further improvements such as adding an online component and better security features.
The document discusses several environmental concerns and provides an activity for students. It outlines issues like genetic modification of crops, waste production, water and air pollution, and deforestation. These problems are negatively impacting forests, oceans, and the planet's temperature. The activity asks students to choose a spot in their home, draw what it currently looks like and their vision to transform it into a garden using reusable materials. The goal is for students to contribute positively to the environment.
This document discusses pain (dolor) from physiological and psychological perspectives. Physiologically, pain is classified based on its origin (somatic, visceral, neuropathic), characteristics (acute, chronic, superficial, deep), and transmission pathways. Psychologically, pain can have subjective and psychosomatic components. Medicaments and complementary therapies are proposed for treating different types of pain.
This document describes sports betting tools and systems offered by Zcode Lab that are claimed to help users profit from sports betting. It promotes various features including line reversal tools to see where smart money is going, oscillators to analyze team trends and pitcher matchups, power rankings to assess team strength over time, and automatic sports picks from statistical models. Access to these tools is provided through a Zcode VIP Club membership.
5 1 6 T o w a r d A l t e r n a t i v e s i n H e a l t h .docxalinainglis
5 1 6 T o w a r d A l t e r n a t i v e s i n H e a l t h C a r e
S o l o t n o n , H . A . 1 9 8 4 . T h e E x a r c i s e M y t D . N e w Y o r k :
H a r c o u r t B r a c e J o v a n o v i c h .
S p i l m a n , M . A . , A . C i o e t z , J . S c h u l t z , R . B e l l i n g h a m ,
a n d D . J o h n s o n . 1 9 8 6 . E f f e c t s o f a H e a l t h P r o m o -
t i o n P r c r g r a n t . J o u r n a l o f O c c u p a t i o n a l M e d i c i n e
2 8 : 2 8 . 5 - 8 9 .
S t e i n , . f . 1 9 8 5 . I n d u s t r y ' s N e w B o t t o m L i n e o n H e a l t h
Ciare Costs: Is Less Better? Hastings Center Report
l - 5 ( . 5 ) : l 4 * 1 8 .
S t e r l i r r g , J . D . , a r . r c l f . . f . W e i n k a m . 1 9 8 6 . E x t e n t , P e r -
s i s t e n c c a n c l C l o n s t a n c y o f t h e l { c a l t h y W o r k e r o r
H c r l t l . r y P e r s o n F . f f e c t b v A l l a n d S e l e c t e d C l a u s e s o f
Death. Journal of Occupational Medicine 28:348-
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S y m e , L . S . , a n d L . F . B e r k m a n . 1 9 7 6 . S o c i a l C l a s s ,
Susceptibility and Illness. American Jonrnal of Epr
demiologl' I 04: l-8. ,
U.S. Department of Health, E,ducation, and !ilelfare.
1,979. Healthy People: The Surgeon General's Re-
port on Health Promotion and Disease Preuention.'Washingtorr.
'Walsl.r, D.C. 1984. Corporate Smoking Policies: A
Revrew and an Analysis. Journal of Ocarpational
M e d i c i n e 2 6 : 1 7 - 2 2 .
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r n o c l e r n p r a c t i c e < l f r r e d i c i n e :
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i n g r i v c r a n t l I h e e r t h c c r y o f l c l r o w n i n g m a n . S o I
j r r n r p i n t o t l i c r i v c r , p u t n 1 y r r r n s a r o u n c l h i m , p u l l
h i r n t o s h o r e a n c l a p p l y a r t i l i c i a l r c s p i r a t i o n . . f u s t
w l r c n h c b c g i n s t o b r c a t h c , t h e r c i s r r t o t h e r c r y f o r
h c l p . S o I j u m p i r r t o t l r c r i v e r , r c : r c h h i m , p u l l h i n r
t o s h o l c , a p p l v a r t i f i c i e l r c s p i r a t i o n , a r - r d t h e n j u s t
a s h e b c g i r r s t o b r e a t h e , r l n o t h e r c r y f o r h e l p . S o
b a c l < i n t l r c r i v e r r r g r r i n , r c r r c h i n g , p u l l i n g , a p p l y i n g ,
b r c a t h i n g a l i c l t h c n r u r o t h c r v e l l . A g a i n a n c l a g a i n ,
w i t h o u t e u .
Week 4 Assignment 2Self-assessment of Communication Skills.docxmelbruce90096
Week 4 Assignment 2
Self-assessment of Communication Skills
As a student studying healthcare administration and leadership in healthcare, you should be developing your own personal development plan to include a personal assessment of your communication skills.
Listening is an integral part of the communication process. Communication in the healthcare setting is vital. This includes communication between doctors and patients, doctors and nurses, clinicians and administrators, and so on.
Based on your learning, answer the following questions:
· Which topic of conversation makes you uncomfortable? What is the topic? Do you know why you find it difficult to talk about this topic?
<Enter your response here.>
· What do you do when you become uncomfortable during a conversation? Do you withdraw? Do you try to change the topic? Do you speak louder or softer? Do you begin to gesticulate?
<Enter your response here.>
· Have you had an occasion to talk to a very persuasive or very aggressive person? If you and this person hold different opinions, can you hold to your position? Are you easily “led” in a conversation?
<Enter your response here.>
· Are you flexible in a conversation? If a comment made by someone takes the conversation in an unexpected direction, can you adjust quickly? Can you assimilate new information, reassess your position, and continue the conversation?
<Enter your response here.>
· When entering into a conversation, do you attempt to eliminate potential distractions and interruptions?
<Enter your response here.>
· Do you consciously avoid having important conversations in high traffic public areas where environmental distractions are likely possible? Why?
<Enter your response here.>
· Do you put your cell phone in the silence mode when you are likely to have conversations? Why?
<Enter your response here.>
· Do you listen without interruption and sufficiently control the conversation to minimize interruption? Why?
<Enter your response here.>
· When engaged in a conversation, do you give your undivided attention to the matters being discussed? Why?
<Enter your response here.>
· When engaged in discussion, do you develop reflective questions pertinent to the conversation? Why?
<Enter your response here.>
· When engaged in discussion, do you make conscious eye contact? Why?
<Enter your response here.>
· When involved in conversations, are you cognizant of body language, both the individual you are conversing with and your own? Why?
<Enter your response here.>
· Do you have an understanding of body language gestures and posturing?
<Enter your response here.>
In a self-assessment summary, provide a list of your communication strengths and weaknesses. Also, provide a plan to address the weaknesses identified.
<Enter your response here.>
My Strengths
<Enter your response here.>
My Weaknesses
<Enter your response here.>
My Plan for Improving My Communication Skills
<Enter your response here.>
Page 1.
TMK.edu Traditional Media Buying Presentation: August 2015The Media Kitchen
This document provides an overview of traditional media buying, including television, radio, print, outdoor, and network upfronts. It shows the average time spent with different media, with digital surpassing TV in 2013. Television advertising strengths include immediate impact and building awareness, while limitations are competitive clutter and time-shifted viewing. For radio, strengths are local presence and low cost, while limitations are lack of visuals and limited reach. Print advertising includes magazines, with strengths being targeted demographics and quality reproduction, while limitations are longer lead times and costs.
Ansel Adams was an American photographer and environmentalist born in 1902 in San Francisco. He grew up exploring the natural landscapes around the Golden Gate. As a child, he was shy and had difficulties in school due to being deaf in one ear from an earthquake. He found joy in nature and taught himself to play piano. Though he intended to be a musician, he ultimately became a photographer known for his landscape and nature photos that helped spread awareness of environmental conservation.
Presented by Bruce Harwood: July 2016
Have you heard about traditional media but aren't quite sure what it is?
This session on how to plan and buy traditional media will give you some context on why advertisers use it and how you should think about it.
As each medium is different in its own way and we will explore the nuances of each and how they are adapting in today's digital landscape.
We are engaged in an exponentially growing cyber war that we are visibly losing. Within the next 3 years it has been estimated that the global cost will equal, or overtake, the UK GDP, and it is clear that our defences are inadequate and often ineffective. Malware and ransomer-ware continue to extort more money, and cause damage and inconvenience to individuals, organisations and society, whilst hacker groups, criminals and rogue states continue to innovate and maintain their advantage. At the same time, our defences are subverted and rendered ineffective as we operate in a reactive and prescriptive, after the fact, mode with no foresight or anticipation.
In any war it is essential to know and understand as much about the enemy as possible, it is also necessary to establish the truth and validity of any situation or development. Doing this in the cyber domain is orders of magnitude more difficult than the real world, but some of the relevant tools are now available or at an advanced stage of development. For example; fully automated fact checkers and truth engines have been demonstrated, whilst situational awareness technologies are commercially available. However, what is missing is some level of context assessment on a continual basis. Without this we will continue to be ‘blind-sided’ by the actions and developments of the attackers as they maintain their element of surprise along every line of innovation.
What do we need? In short ; a Context Engine that continually monitors networks, servers, routers, machines, devices and people for anomalous behaviours that flag pending attacks as behavioural deviations that are generally easy to detect. In the case of attacker groups we have observed precursor events and trends in network activity days ahead of some big offensive. However, this requires a shift in the defenders thinking and operations away for the reactive and short term, to the long term continual monitoring, data collection and analysis in order to establish threat assessments on a real time.
The behavioural analysis of people, networks and ITC, is at the core of our ‘Context Engine’ solution which completes the triangle of: Truth; Situation; Context Awareness to provide defenders with a fuller and transformative picture. Most of the known precursor elements of this undertaken have been studied in some depth, with some behavioural elements identified on real networks and some physical situations. The unknown can only add more accuracy!
This document is the CV of Stephen Kelleher, which outlines his education and qualifications, achievements, skills, and work experience. He has a Masters in Planning and Sustainable Development from University College Cork and a Bachelor of Architecture from University of Limerick. His experience includes working as an architectural assistant on commercial, education, and planning projects. He has received several awards and has experience in urban design, master planning, and presenting work.
Financial Statement Class 12th Accountancy topic explained in detailpriyaan122002
The financial statement is a fundamental concept in Class 12 Accountancy, serving as a critical tool for businesses to communicate their financial performance and position to stakeholders. This topic encompasses the preparation, analysis, and interpretation of financial statements, providing students with essential skills for understanding and managing business finances. Financial statements are formal records of the financial activities and position of a business, person, or entity. These statements are crucial for stakeholders, including investors, creditors, and management, to make informed decisions. The primary financial statements include the Balance Sheet, Income Statement (Profit and Loss Account), and Cash Flow Statement.
Beige Brown Minimal Organic Creative Project Presentation 2.pdfsugandhshrivastava17
Munching Millet is a startup that provides ready-to-eat millet products like millet oats, dosa batter, cookies, and idli batter. The products are gluten-free, nutritious, and affordable. The company was founded by four individuals and aims to promote the health benefits of millets. It faces competition from other millet companies but distinguishes itself by offering customization options and DIY millet mixes. The global millet market is valued at $11.53 billion currently and is projected to reach $14.43 billion by 2029.
Beige Brown Minimal Organic Creative Project Presentation 2.pdfsugandhshrivastava17
Munching Millet is a startup that provides ready-to-eat millet products like millet oats, dosa batter, cookies, and idli batter. The products are gluten-free, nutritious, and affordable. The company was founded by four individuals and aims to promote the health benefits of millets. It faces competition from other millet companies but distinguishes itself by offering customization options and DIY millet mixes. The global millet market is valued at $11.53 billion currently and is projected to reach $14.43 billion by 2029.
Similar to Scanned by CamScannerFig u r e 1 . 5 D e sc r i b i n .docx (20)
…if one of the primary purposes of education is to teach young .docxanhlodge
“…if one of the primary purposes of education is to teach young people the skills, knowledge, and critical awareness to become productive members of a diverse and democratic society, a broadly conceptualize multicultural education can have a decisive influence.” Textbook page 338.
What steps do you think schools can or should take to promote our democracy in today’s very diverse country?
Food festivals and celebrating a cultural holiday will not be accepted as an answer. Those are examples of tokenism to make the dominant culture feel like they are doing something. These two activities are fun and interesting, but not how we will strengthen our democracy.
.
✍Report OverviewIn this assignment, you will Document an.docxanhlodge
✍
Report Overview
In this assignment, you will
Document and reflect on your university education and on learning experiences outside of the university;
Articulate how your upper-level coursework is an integrated and individualized curriculum built around your interests; and
Highlight the experiences, skills, and projects that show what you can do.
A successful report submission will be the product of many hours of work over several weeks.
A report earning maximum available points will be a carefully curated and edited explanation of your work that provides tangible evidence of—and insights into—your competencies and capabilities over time. In each section of this report, you are (1) telling a story about your own abilities, and (2) providing specific examples and evidence that illustrate and support your claims.
✍
Required Report Sections
Here the sections are listed as they must appear in your final graded submission. You’ll arrange the sections in this order when
submitting
the final report BUT you won’t follow this order when
writing
drafts of each section.
Note that each section description contains a Pro Tip that tells you how to proceed with the work – what to attempt first, second, and third, etc.
❖ I. Statement of Purpose ❖
Step 1.
Read these four very different
examples of successful Statement of Purpose sections
.
Step 2.
Consider the differences in tone, style, level of detail etc. Your own statement of purpose may resemble one of these. Indeed, writing a first draft based on an example or combination of examples is a good idea. BUT don’t let these examples limit your thinking or personal expression. You may want to begin with a quote from a famous person, use a quote from your mom, or skip the quote. You may want to discuss your personal motivations or get right down to the facts. You may want to list your classes or discuss how your work-life led you to this path.
Step 3.
Write a rough draft – let’s call that Statement of Purpose 1.0. Write Statement of Purpose 1.0 as quickly as you can and then put it away until after you have completed most of the report. Forget about Statement of Purpose 1.0 until most of your report is at least in draft form.
Step 4.
Once you have a draft of all sections of your report, you are in a good position to revise Statement of Purpose 1. You are ready for Step 4. Take Statement of Purpose 1.0 out its dusty vault and hold it up to the sun. Ah. Now read your report draft and compare it to the claims you made in Statement of Purpose 1.0. Ask yourself these questions:
Does Statement of Purpose 1.0. accurately introduce my report?
Are there important ideas or representative experiences in the report that should be highlighted in the Statement of Purpose but aren’t? Remember this isn’t a treasure hunt where its your reader’s job to figure out what matters. It’s your job to show the reader what matters.
If Statement of Purpose 1.0. isn’t the best map it can be for th.
☰Menu×NURS 6050 Policy and Advocacy for Improving Population H.docxanhlodge
☰
Menu
×
NURS 6050 Policy and Advocacy for Improving Population Health
Back to Course Home
Course Calendar
Syllabus
Course Information
Resource List
Support, Guidelines, and Policies
Module 1
Module 2
Module 3
Module 4
Module 5
Module 6
.
▪ Learning Outcomes1.Understand the basic concepts and termin.docxanhlodge
▪
Learning Outcomes:1.
Understand the basic concepts and terminology used in Strategic Management. (Lo 1.2)2.
Understand the Corporation Social Responsibility
(Lo 1.4).3.
Explain how executive leadership is an important part of strategic management (Lo 3.4)
✓
Question 1
: How does strategic management typically evolve in a corporation? (
1Mark)
✓
Question 2
: Discuss the influence of globalization, social responsibility and environmental sustainability on strategic management of a corporation.(
2 Marks
)
✓
Question 3:
In what ways can a corporation’s structure and culture be internal strengths or weaknesses? Justify your answer by examples from real market. (
1Mark)
✓
Question 4:
When does a corporation need a board of directors? Justify your answer by an example from Saudi market.
(1 Mark)
Notes:
-
Your answers
(for the
4
questions)
MUST include at least
three scholarly peer-reviewed references
,
using a proper referencing style (APA).
Keep in mind that these scholarly references
can be found
in the
Saudi Digital Library (SDL).
-
Make sure to support your statements with logic and argument, citing all sources referenced.
Your answers should not include m
.
● What are some of the reasons that a MNE would choose internationa.docxanhlodge
● What are some of the reasons that a MNE would choose international expansion through an acquisition? An IJV? An alliance?
● What are the variables that would influence the decision?
● Which choice do you believe is best for the likely benefit of the firm? (Cite and reference).
.
▶︎ Prompt 1 Think about whether you identify with either Blue or .docxanhlodge
▶︎ Prompt 1:
Think about whether you identify with either Blue or Red or "Left vs. Right" characteristics of conservative or liberal, left or right America. Do you see yourself, or the people in the place you grew up, on either side of the divide, or perhaps in a different political category? Share some ways in which you identify with some of the descriptions, or ways in which they seem foreign to you.
I'll attach the picture below
.
⁞ InstructionsChoose only ONE of the following options .docxanhlodge
⁞ Instructions
Choose only
ONE
of the following options below and, in your post, write a paraphrase that avoids plagiarism of the paragraph you have chosen. Your paraphrase can be as long as the excerpt you have chosen, but should not duplicate any phrasing from the excerpt. If you must, you can quote up to three words in a phrase.
Choose to paraphrase ONE of the excerpts below:
Option 1
Morrison began writing Sula in 1969, a time of great activism among African Americans and others who were working toward equal civil rights and opportunities. The book addresses issues of racism, bigotry, and suppression of African Americans; it depicts the despair people feel when they can't get decent jobs, and the determination of some to survive. Eva, for example, cuts off her leg in order to get money to raise her family. Morrison shows how, faced with racist situations, some people had to grovel to whites simply to get by, as Helene does on a train heading through the South. Others, however, fought back, as Sula does when she threatens some white boys who are harassing her and Nel.
or
Option 2
In 1993, Morrison was awarded the Nobel Prize for literature, and thus became the first African American and only the eighth woman ever to win the award. According to Maureen O'Brien in Publishers Weekly, Morrison said, "What is most wonderful for me personally is to know that the Prize has at last been awarded to an African American. I thank God that my mother is alive to see this day." In 1996, she received the National Book Foundation Medal for Distinguished Contribution to American Letters.
.
⁞ InstructionsChoose only ONE of the following options below.docxanhlodge
⁞ Instructions
Choose only
ONE
of the following options below and, in your post, write a paraphrase that avoids plagiarism of the paragraph you have chosen. Your paraphrase can be as long as the excerpt you have chosen, but should not duplicate any phrasing from the excerpt. If you must, you can quote up to three words in a phrase.
When you are done posting your paraphrase, reply to at least one classmate’s paraphrase, commenting on what s/he has done well and what s/he can improve with the wording. Your response should be written in no fewer than 75 words.
Choose to paraphrase ONE of the excerpts below:
Option 1
Morrison began writing Sula in 1969, a time of great activism among African Americans and others who were working toward equal civil rights and opportunities. The book addresses issues of racism, bigotry, and suppression of African Americans; it depicts the despair people feel when they can't get decent jobs, and the determination of some to survive. Eva, for example, cuts off her leg in order to get money to raise her family. Morrison shows how, faced with racist situations, some people had to grovel to whites simply to get by, as Helene does on a train heading through the South. Others, however, fought back, as Sula does when she threatens some white boys who are harassing her and Nel.
or
Option 2
In 1993, Morrison was awarded the Nobel Prize for literature, and thus became the first African American and only the eighth woman ever to win the award. According to Maureen O'Brien in Publishers Weekly, Morrison said, "What is most wonderful for me personally is to know that the Prize has at last been awarded to an African American. I thank God that my mother is alive to see this day." In 1996, she received the National Book Foundation Medal for Distinguished Contribution to American Letters.
Your discussion post will be graded according to the following criteria:
- Clear paraphrase the selected text in your own words with minimal use of quotations
.
⁞ InstructionsAfter reading The Metamorphosis by Frank .docxanhlodge
⁞ Instructions
After reading
The Metamorphosis
by Frank Kafka , choose
one
of the following assertions and write a 200-word response supporting why you agree or disagree with it.
Gregor’s transformation highlights his isolation and alienation before his metamorphosis.
Or
Despite having become an insect, Gregor is more humane and sensitive than his family.
Or
If Gregor had been a stronger person, he would have been able to avoid all of the suffering and alienation he endures.
.
⁞ InstructionsAfter reading all of Chapter 5, please se.docxanhlodge
⁞ Instructions:
After reading all of
Chapter 5
, please select
ONE
of the following
primary source readings
:
“Utilitarianism” by John Stuart Mill
(starting on page 111)
-or-
“A Theory of Justice” by John Rawls
(starting on page 115)
-or-
“The Entitlement Theory of Justice” by Robert Nozick
(starting on page 122)
Write a short, objective summary of
250-500 words
which summarizes the main ideas being put forward by the author in this selection. Your summary should include no direct quotations from any author. Instead, summarize in your own words, and include a citation to the original. Format your Reading Summary assignment according to either MLA or APA formatting standards, and attach as either a .doc, .docx, or .rtf filetype. Other filetypes, or assignments that are merely copy/pasted into the box will be returned ungraded.
.
⁞ InstructionsAfter reading all of Chapter 2, please select.docxanhlodge
⁞ Instructions:
After reading all of
Chapter 2
, please select
ONE
of the following
primary source readings
:
“Anthropology and the Abnormal” by Ruth Benedict
(starting on page 33)
-or-
“Trying Out One’s New Sword” by Mary Midgley
(starting on page 35)
Write a short, objective summary of
250
which summarizes the main ideas being put forward by the author in this selection.
Write a short summary that identifies the thesis and outlines the main argument.
Reading summaries are not about your opinion or perspective – they are expository essays that explain the content of the reading.
All reading summaries must include substantive content based on the students reading of the material.
Reading Material: Doing Ethics
ORIGINIAL WORK. NO PLAGIARISM
.
⁞ Instructions After reading all of Chapter 9, please .docxanhlodge
⁞ Instructions:
After reading all of
Chapter 9
, please select the following
primary source reading
:
“A Defense of Abortion” by Judith Jarvis Thomson
(starting on page 237)
Write a short, objective summary of
250-500 words
which summarizes the main ideas being put forward by the author in this selection. Your summary should include no direct quotations from any author. Instead, summarize in your own words, and include a citation to the original. Format your Reading Summary assignment according to either MLA or APA formatting standards, and attach as either a .doc, .docx, or .rtf filetype. Other filetypes, or assignments that are merely copy/pasted into the box will be returned ungraded.
.
…Multiple intelligences describe an individual’s strengths or capac.docxanhlodge
“…Multiple intelligences describe an individual’s strengths or capacities; learning styles describe an individual’s traits that relate to where and how one best learns” (textbook quote, [H2] Learning Styles].
This week you’ve read about the importance of getting to know your students in order to create relevant and engaging lesson plans that cater to multiple intelligences and are multimodal.
Assignment Instructions:
A. Using
SurveyMonkey
, create a survey that has:
At least five questions based on Gardner’s theory
Five questions on individual learning style inventory
A specific targeted student population grade level (elementary/ middle/ high school/adults)
Include the survey link for your peers
B. Post a minimum 150 word introduction to your survey, using at least one research-based article (cited in APA format) explaining how it will:
Evaluate students’ readiness
Assist in the creation of differentiated lesson plans.
.
••• JONATHAN LETHEM CRITICS OFTEN USE the word prolifi.docxanhlodge
- Jonathan Lethem is known for publishing many novels, stories, essays and other works across different genres. He is described as a "protean" or shape-shifting writer.
- Lethem believes creativity comes from influence and interaction with other works, not isolated originality. He celebrates the "ecstasy of influence" where culture is built upon what came before through borrowing and remixing.
- Many artists, including musicians, visual artists and writers, engage in practices that borrow and reuse elements from other works but these practices are seen as essential to creativity rather than plagiarism. Appropriation and remixing are at the core of cultural production.
•••••iA National Profile ofthe Real Estate Industry and.docxanhlodge
•••••i
A National Profile of
the Real Estate Industry and
the Appraisal Profession
by J. Reid Cummings and Donald R. Epley, PhD, MAI, SRA
FEATURES
T
J- he
he real estate industry has been devastated on many fronts' in the years
following the Great Recession, whieh began in 2007^ due to the bursting of the
housing bubble and the subsequent finaneial crisis relating to the mortgage
market meltdown.' The implosion of the mortgage markets initially began when
two Bear Stearns mortgage-backed securities hedge funds, holding nearly $10
billion in assets, disintegrated into nothing.* Panie quickly spread to financial
institutions that could not hide the extent of their toxic, subprime exposures, and
a massive, worldwide credit squeeze ensued; outright fear soon replaced panic.
Subsequent eredit tightening and substantial illiquidity in the financial markets
rapidly and severely affected the housing and construction markets.' Throughout
the United States, properties of all kinds saw dramatic value declines.
In thousands of cases, real estate foreclosures disrupted people's lives,
forced businesses to close, eaused financial institutions to falter, capsized wbole
market segments, devastated entire industries, and squeezed municipal and state
government budgets dependent upon use and property tax revenues.* While the
effeets of property value declines and the waves of foreclosures in markets across
the country captured most of the headlines, one significant impact of the upheaval
in US real estate markets has gone largely unreported: its impact on employment
in the real estate industry, and specifically, the real estate appraisal profession.
This article presents a
current employment
profile of the US real
estate industry, with
special attention given
to appraisal profes-
sionals. It serves as an
informative picture of
the appraisal profession
for use as a benchmark
for future assessment
of growth. As a
component of the real
estate industry, the
appraisal profession
ranks as the smallest
in employment, is
highly correlated to
movements in empioy-
ment of brokers and
agents, and relies on
commerciai banking,
credit, and real estate
lessors and managers
to deliver its products.
1. James R. DeLisle, "At the Crossroads of Expansion and Recession," TheAppraisalJournal 75, no. 4 (Fall 2007):
314-322; James R. DeLisle, "The Perfect Storm Rippiing Over to Reai Estate," The Appraisal Journal 76, no,
3 (Summer 2008): 200-210.
2. Randaii W. Eberts, "When Wiii US Empioyment Recover from tiie Great Recession?" International Labor Brief
9, no. 2 (2011): 4-12 (W. E. Upjohn Institute for Employment Research): Chad R. Wilkerson, "Recession and
Recovery Across the Nation: Lessons from History," Economic Review 94, no. 2 (2009): 5-24.
3. Kataiina M. Bianco, The Subprime Lending Crisis: Causes and Effects of the Mortgage Meltdown (New York:
CCH, inc., 2008): Lawrence H. White, "Fédérai Reserve Policy and the Housing Bubbie," in Lessons Fro.
Let us consider […] a pair of cases which I shall call Rescue .docxanhlodge
“Let us consider […] a pair of cases which I shall call Rescue I and Rescue II. In the first Rescue story we are hurrying in our jeep to save some people – let there be five of them – who are imminently threatened by the ocean tide. We have not a moment to spare, so when we hear of a single person who also needs rescuing from some other disaster we say regretfully that we cannot rescue him, but must leave him to die. To most of us, this seems clear […]. This is Rescue I and with it I contrast Rescue II. In this second story we are again hurrying to the place where the tide is coming in in order to rescue the party of people, but this time it is relevant that the road is narrow and rocky. In this version, the lone individual is trapped (do not ask me how) on the path. If we are to rescue the five we would have to drive over him. But can we do so? If we stop he will be all right eventually: he is in no danger unless from us. But of course, all five of the others will be drowned. As in the first story, our choice is between a course of action that will leave one man dead and five alive at the end of the day and a course of action which will have the opposite result. (Philippa Foot, “Killing and Letting Die,” from Abortion and Legal Perspectives, eds. Garfield and Hennessey, 2004, University of Massachusetts Press)
1. What would Mill tell the rescuer to do, in Rescue I and Rescue II, according to his theory of utilitarianism? Be clear in explaining Mill’s recommendation, and how he would justify it. In doing so, you must include a discussion of the following:
o The Principle of Utility and how it would specifically apply in this situation—who gets “counted” and how?
2. What would Kant tell the rescuer to do, in Rescue I and Rescue II, according to his deontological theory? Be clear in explaining Kant’s recommendation and how he would justify it. In doing so, you must include a discussion of the following:
o The first version of the Categorical Imperative and how it would specifically apply in these two situations (hint, you have to say what the maxim would be and what duty would be generated according to it).
o The second version of the Categorical Imperative and how it would specifically apply in this situation.
3. Explain one criticism of both Mill and Kant. Afterward, argue for which ethical approach, on your view is superior. Be specific and provide reasons for your claim.
.
• Enhanced eText—Keeps students engaged in learning on th.docxanhlodge
• Enhanced eText—Keeps students engaged in learning on their own time,
while helping them achieve greater conceptual understanding of course
material. The worked examples bring learning to life, and algorithmic practice
allows students to apply the very concepts they are reading about. Combining
resources that illuminate content with accessible self-assessment, MyLab
with Enhanced eText provides students with a complete digital learning
experience—all in one place.
• MediaShare for Business—Consisting of a curated collection of business
videos tagged to learning outcomes and customizable, auto-scored
assignments, MediaShare for Business helps students understand why they
are learning key concepts and how they will apply those in their careers.
Instructors can also assign favorite YouTube clips or original content and
employ MediaShare’s powerful repository of tools to maximize student
accountability and interactive learning, and provide contextualized feedback
for students and teams who upload presentations, media, or business plans.
• Writing Space—Better writers make great
learners who perform better in their courses.
Designed to help you develop and assess concept
mastery and critical thinking, the Writing Space
offers a single place to create, track, and grade
writing assignments, provide resources, and
exchange meaningful, personalized feedback with
students, quickly and easily. Thanks to auto-graded, assisted-graded, and create-your-own assignments, you
decide your level of involvement in evaluating students’ work. The auto-graded option allows you to assign
writing in large classes without having to grade essays by hand. And because of integration with Turnitin®,
Writing Space can check students’ work for improper citation or plagiarism.
• Branching, Decision-Making Simulations—Put your students in the
role of manager as they make a series of decisions based on a realistic
business challenge. The simulations change and branch based on their
decisions, creating various scenario paths. At the end of each simulation,
students receive a grade and a detailed report of the choices they made
with the associated consequences included.
Engage, Assess, Apply
• Learning Catalytics™—Is an interactive, student response tool that
uses students’ smartphones, tablets, or laptops to engage them in
more sophisticated tasks and thinking. Now included with MyLab
with eText, Learning Catalytics enables you to generate classroom
discussion, guide your lecture, and promote peer-to-peer learning
with real-time analytics.
• LMS Integration—You can now link from Blackboard Learn, Brightspace
by D2L, Canvas, or Moodle to MyManagementLab. Access assignments,
rosters, and resources, and synchronize grades with your LMS gradebook.
For students, single sign-on provides access to all the personalized
learning resources that make studying more efficient and effective.
• Reporting Dashboard—View, analyze, and re.
• Here’s the approach you can take for this paperTitle.docxanhlodge
This document outlines the structure for a 15-20 page paper on risk management for an organization. It should include an introduction providing background on the selected organization, descriptions of 3 risks with their impacts and recommendations for managing each risk, a conclusion, and references. The paper needs a title page and should follow APA style formatting.
•Your team will select a big data analytics project that is intr.docxanhlodge
•Your team will select a big data analytics project that is introduced to an organization of your choice … please address the following items:
•Provide a background of the company chosen.
•Determine the problems or opportunities that that this project will solve. What is the value of the project?
•Describe the impact of the problem. In other words, is the organization suffering financial losses? Are there opportunities that are not exploited?
•Provide a clear description regarding the metrics your team will use to measure performance. Please include a discussion pertaining to the key performance indicators (KPIs).
•Recommend a big data tool that will help you solve your problem or exploit the opportunity, such as Hadoop, Cloudera, MongoDB, or Hive.
•Evaluate the data requirements. Here are questions to consider: What type of data is needed? Where can you find the data? How can the data be collected? How can you verify the integrity of the data?
•Discuss the gaps that you will need to bridge. Will you need help from vendors to do this work? Is it necessary to secure the services of other subject matter experts (SMEs)?
•What type of project management approach will you use this initiative? Agile? Waterfall? Hybrid? Please provide a justification for the selected approach.
•Provide a summary and conclusion.
.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
हिंदी वर्णमाला पीपीटी, hindi alphabet PPT presentation, hindi varnamala PPT, Hindi Varnamala pdf, हिंदी स्वर, हिंदी व्यंजन, sikhiye hindi varnmala, dr. mulla adam ali, hindi language and literature, hindi alphabet with drawing, hindi alphabet pdf, hindi varnamala for childrens, hindi language, hindi varnamala practice for kids, https://www.drmullaadamali.com
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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Training: ISO/IEC 27001 Information Security Management System - EN | PECB
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How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
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'
s s t ra t e g y :C o m p e t i n g i n t h e p re se n t , p re p a
r i n g fo rt h e f u t u re .
PRESENT FUTURE
COMP I NGFORTHE PREPARINGFORTHE
M A, a M a n c e s
- Gro w th m o d e s o rg a n i c g ro w t h ,
R&D
co m p e t i t i v e a d v a n t a g e ?
P r io r i t i e s fo r c a p i t a le x p e n d i t u re ,
- Wha t i st h e b asi so f o u r
G u i d e l i n e s fo rd e v e lo p m e n t
- Pe r fo rm a n c e g o a l s Ho w ar e wg co m p e t i ng ? H
o w wi l l wg ge t th e r e?
- Ve rt i ca lsco p e M iss i o
n st a t e m e n t
- Ge o g ra p h i c a l sc o p e W
ha t d o w e w o n t to a c h ie ve ?
- Pro d u c t m a rk e t sc o p e
V i s i o n st a t e m e n t
2. Wh e r e or e we co m p e t i ng ? W
h a t do we wo n t to be c o m e ?
St r a t e g y a s p o s i t i o n i . g S t r a t . G y a s D i r e c t i
o n
(F igu r e 1. 51.
p u r p o s e u f t h e ĥ r m ( rn i s s i o n ), w ha t i t s e e k
s t o b e c o m e (p i s i n ) a n d s p e c i ĥ c p e r fo r m a n c
e t a r g e t s
t h e f u t u r e a n d d e t e r m i n i n g h u w t h e y w i l l
h e a c h i e v e d . Fu t u r e o b je c t i v e s r e l a t e t o t
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o n c Ľ p t n f s t r a t e g y i n v o l v e s e s t a h l i s h i n g
o b je c t i v e s f o r
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w i t h
w h i c h i t n p c r l r c s i n d t h c v Ľ r r i c a l r a n g e
()f t h e a c t i v i t i e s i t u
n d e r t a k e s .
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o m e r w o u p s i r t a r g c r x , t hc c o u n t r i e s a n d l
o c a l i t i e s i n
q u e s t i o n h J h m u l r i p l c d i m c n s i n n s . I r r e l
a t e s t o t h e i n LI u s r r y n r i n d u s t r i e s i n w h i
c h r h c f i r m i s
p r o v i d e r h c b n x i x l i p u n w h i c h w e c a n d c s
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'
s s t ra t e g y :C o m p e t i n g i n t h e p re se n t , p re p a
r i n g fo rt h e f u t u re .
PRESENT FUTURE
COMP I NGFORTHE PREPARINGFORTHE
M A, a M a n c e s
- Gro w th m o d e s o rg a n i c g ro w t h ,
R&D
co m p e t i t i v e a d v a n t a g e ?
P r io r i t i e s fo r c a p i t a le x p e n d i t u re ,
- Wha t i st h e b asi so f o u r
G u i d e l i n e s fo rd e v e lo p m e n t
- Pe r fo rm a n c e g o a l s Ho w ar e wg co m p e t i ng ? H
o w wi l l wg ge t th e r e?
- Ve rt i ca lsco p e M iss i o
n st a t e m e n t
- Ge o g ra p h i c a l sc o p e W
ha t d o w e w o n t to a c h ie ve ?
- Pro d u c t m a rk e t sc o p e
V i s i o n st a t e m e n t
Wh e r e or e we co m p e t i ng ? W
h a t do we wo n t to be c o m e ?
St r a t e g y a s p o s i t i o n i . g S t r a t . G y a s D i r e c t i
6. o n
(F igu r e 1. 51.
p u r p o s e u f t h e ĥ r m ( rn i s s i o n ), w ha t i t s e e k
s t o b e c o m e (p i s i n ) a n d s p e c i ĥ c p e r fo r m a n c
e t a r g e t s
t h e f u t u r e a n d d e t e r m i n i n g h u w t h e y w i l l
h e a c h i e v e d . Fu t u r e o b je c t i v e s r e l a t e t o t
h e o v e r a l l
c o m p e r i n g ŕ t ] r t o m o r r o w . T h i£ d y n a m i Ľ c
o n c Ľ p t n f s t r a t e g y i n v o l v e s e s t a h l i s h i n g
o b je c t i v e s f o r
Ht l wcve )i r r a r c g y i s n o t s i m p l y a b o u r c o m p
c c i n g f o r t o d a y i t i s a l s o c o n c e r n e d
w i t h
w h i c h i t n p c r l r c s i n d t h c v Ľ r r i c a l r a n g e
()f t h e a c t i v i t i e s i t u
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COrpon teve rs u s b u s ine ss s tra teg y
Ca s e I n s i g h 1 1 , 3
Ford and the world
automobile industry
in 2012
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At the beginning of 2012, the Chief Financial Offi cer of Ford
Motor Company, Lewis Booth,
was reviewing his fi nancial forecasts for 2012-16. Ford’s
turnaround since the crisis of
2007-8 had been remarkable. After a loss of $14.7 billion in
2008, Ford earned net profi ts
of $6.6 billion in 2010, and it looked as though Ford’s profi t
for 2011 would exceed this.
The recovery had been much more rapid than Booth had
expected. Ford’s business plan of
December 2008 projected that it would not break even until
2011.1 Booth attributed the
speed of the turnaround to three factors: fi rst government
measures in North America and
Europe to stimulate demand through incentives for scrapping
old cars and subsidies for
purchasing new, fuel-effi cient models; second, the recovery of
demand in several major
markets including China, India, Brazil and the US; third, Ford’s
own restructuring. The “One
Ford” transformation plan introduced in 2006 had closed plants,
cut Ford’s workforce from
295 000 at the beginning of 2006 to 148 000 at the end of 2011,
sold Jaguar, Land Rover
and Volvo and a large chunk of Mazda; integrated Ford’s global
activities; and accelerated
product development including an increasing emphasis on
smaller cars.
Despite these successes, Booth looked to the future with much
trepidation. Ford’s
performance over the next fi ve years would depend on three
main factors: Ford’s ability
to continuing success with its One Ford strategy, the state of the
10. world economy, and
developments in the global automobile industry. On the fi rst of
these, Booth had few
doubts. On the second, he realized that, for all the uncertainty,
there was little that Ford
could do other than closely monitor the unfolding economic
situation and be prepared
to adapt to unforeseeable events. On developments in the global
automobile industry,
Booth was perplexed.
The collapse in industry profi tability in 2007-9 and descent
into bankruptcy of General
Motors and Chrysler was not simply a consequence of the fi
nancial crisis. It also refl ected
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[I]nstead of natural selection, something else happened:
governments around
the world, from Canada and Brazil to Russia and South Korea,
stepped in with
prodigious amounts of cash to keep car plants open and
assembly lines running.
All told, automakers have benefi ted from well in excess of
$100 billion of direct
bail-out funds or indirect state aid . . . the biggest ever short-
term intervention in
manufacturing . . . (T)he money has prevented a necessary
shake-out in an industry
that has long had too many producers. Consultants at PwC
estimate the industry
has the capacity to build 86 million units this year, almost a
record—and 31 million
more than the 55 million vehicles that it will sell.2
12. the massive structural problems of the industry—most notably,
too many fi rms with too
much capacity chasing too little demand. The catastrophic
declines in industry revenues
and profi ts in 2008 promised a major industry restructuring.
Daimler’s CEO had predicted
that 2009 would be a “Darwinian year” for the auto industry.
Yet, the industry’s pre-crisis
structure survived almost intact. The Financial Times
commented:
Even before fi nancial crisis hit, the fi nancial performance of
the industry was dire:
between 1990 and 2008 the world’s fi ve biggest auto makers
(GM, Toyota, Ford, Daimler-
Chrysler and Volkswagen) had earned on average a net margin
of 1.1%; their return on
invested capital and together they had destroyed billions in
shareholder value. However,
despite the lack of exit or consolidation by the leading auto
makers, it was clear that
the structure of the industry was far from remaining static. The
shifting of demand from
the mature industrial nations to the growing markets of Asia,
Eastern Europe and Latin
America was accompanied by the emergence of new competitors
from these same
regions. Meanwhile, new technologies and environmental
concerns—including the
growing use of all-electric vehicles—wereredirecting the
industry’s development path.
Understanding how these diff erent forces would impact the
overall profi t potential of the
world automobile industry would be a key determinant of Ford’s
fi nancial performance
13. in the coming years.
Development of the world automobile industry3,4
The growth of demand and production
Vehicles powered by internal-combustion appeared in Europe
during the 1880s—Gottlieb
Daimler and Karl Benz were among the fi rst. By the end of the
19th century, hundreds of
small companies were producing automobiles both in Europe
and in America.
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During the 20th century the industry followed diff erent
development paths in
diff erent parts of the world. The U.S. auto industry grew
rapidly during 1910–28 and
1946–65 before reaching market saturation (see Figure 1).The
automobile industries of
Western Europe and Japan also experienced maturing of their
markets with production
peaking in 1989–90. In all the advanced industrial countries the
increased longevity of
cars dampened market demand (see Figure 2).
Despite declining output in the advanced industrialized
countries, the world
automobile industry has continued to grow (see Figure 3). This
growth has been the
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16. 1900 1905 1910 1915 1920 1925 1930 1935 1940 1945 1950
1955 1960 1965 1967 1970 1975 1980 1985 1990 1995 2000
2005 2008
Trucks and Buses 0 750 6,000 74,00 321,7 530,6 575,3 697,3
754,9 655,6 1,337 1,249 1,194 1,751 1,539 1,692 2,272 1,667
3,464 3,718 5,634 7,228 7,656 6,733
Passenger Vehicles 4,192 24,25 181,0 895,9 1,905 3,735 2,787
3,273 3,717 69,53 6,665 7,920 6,674 9,305 7,436 6,546 6,712
6,400 8,002 6,049 6,350 5,542 4,321 3,777
Passenger Vehicles Trucks and Buses
Figure 1 U.S. motor vehicle production, 1900–2008
Figure 2 Median age of passenger cars in the U.S.
Source: R. L. Polk & Co.
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Table 1 World motor vehicle production by countries and
regions
(% of world total)1
1960 1989 1994 2000 2005 2008 2010
U.S. 52.0 23.8 24.5 22.2 20.0 18.6 12.9
Western Europe 38.0 31.7 31.2 29.9 28.4 20.7 14.6
Central and E. Europe 2.0 4.8 4.3 4.6 5.4 9.5 7.7
Japan 1.0 18.2 21.2 17.7 17.0 16.7 12.6
18. Korea n.a. 1.8 4.6 5.0 5.3 5.5 5.6
China n.a. n.a. 2.7 3.5 5.7 13.3 24.0
World total (millions) 12.8 49.5 50.0 57.4 66.8 69.4 76.1
Note:
1 Motor vehicles include automobiles, trucks and buses.
Source: A. K. Binder (ed.), Ward’s Automotive Yearbook, 2011,
Wards Communications, Southfi eld MI, 2011.
result of growing output from the newly industrializing
countries—notably Korea, China,
Brazil, and India. (see Table 1). As a result, the proportion of
world output contributed by
the traditional production centers—the US, Western Europe, and
Japan—fell from 77% in
1994 to 40% in 2010 (see Table 2).
Figure 3 World motor vehicle production, 1965–2008
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
23. s
o
f
u
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it
s
)
World Total US & Canada as % of Total
AU: We have
deleted
repetition of
Table 1.
Plz check.
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Table 2 Leading automobile-producing countries (thousands of
cars;
excludes trucks)
1987 1990 1995 2000 2005 2008 2010
China n.a. n.a. 356 620 3118 6341 9494
Japan 7891 9948 7664 8363 9017 9916 8307
Germany 4604 4805 4360 5132 5350 5532 5552
Brazil 789 663 1312 1348 2009 2561 2828
Korea 793 987 1893 1881 2195 2436 2793
U.S. 7099 6077 6338 5542 4321 3777 27311
India n.a. n.a. 394 541 999 1507 2317
Spain 1403 1679 1959 2445 2098 2014 1951
France 3052 3295 3051 2883 3113 2144 1914
Mexico 266 346 710 1130 846 1217 1386
26. Russia2 1329 1260 834 967 1288 1469 1208
U.K. 1143 1296 1532 1641 1596 1448 1274
Czech Rep. n.a. n.a. 193 428 599 933 1070
Canada 810 1072 1339 1551 1356 1195 967
Poland 301 256 260 533 527 840 799
Italy 1701 1874 1422 1442 726 659 573
Notes:
1 The production data for the US do not include the large
volumes of pick-up trucks and SUVs produced by the
automobile companies but classed as trucks.
2 U.S.S.R. in 1987 and 1990.
Sources: Japan Automobile Manufacturers Association; Korean
Automobile Manufacturers Association; A. K. Binder (Ed.),
Ward’s Automotive Yearbook, 2011, Wards Communications,
Southfi eld MI, 2011.
e
f
The evolution of the automobile
The early years of the industry were characterized by
considerable uncertainty
over the design and technology of the motorcar. The fi rst
“horseless carriages” were
precisely that—they followed design features of existing horse-
27. drawn carriages and
buggies. Soon a bewildering variety of technologies were
competing. The internal-
combustion engine vied with the steam propulsion and electric
motors. Transmission
systems, steering systems and brakes all displayed a remarkable
range of technologies
and designs.
Over the years, technologies and designs converged. The Ford
Model T with its front-
mounted, water-cooled, four-cylinder engine represented the fi
rst “dominant design”
in automobiles. Convergence continued throughout the
twentieth century with the
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elimination of most distinctively diff erent technologies and
designs. Air-cooled engines,
such as those of the VW Beetle disappeared along with
Citroen’s distinctive suspension
systems. Power trains standardized around four cylinders, in-
line engines, with V-6
and V-8 confi gurations for larger cars. Front-wheel drive
became standard on smaller
cars; suspension, steering, braking systems and body shapes
became more similar.
Technological progress was incremental: new materials, new
safety features, multi-valve
cylinders, and applications of electronics such as traction
control systems, electronic fuel
injection, variable suspension, satellite navigation systems, and
intelligent monitoring
systems.
29. Convergence also occurred across countries. The distinctive diff
erences that once
distinguished American, French and Japanese cars largely
disappeared—partly due
to the manufacturers’ promotion of global models. The same
market segments are
present in diff erent countries, though the sizes of these
segments vary greatly across
countries.In the U.S., “mid-size” family sedans, SUVs, and
pickup trucks are the largest
segments; in Europe and Asia, small family cars
(“subcompacts”) formed the largest
market segment.
This trend toward design convergence and piecemeal innovation
was interrupted
by the introduction of electric powered cars. This was hardly a
disruptive technology:
the fi rst electrically-powered cars and buses were in use at the
beginning of the 20th
century—in 1900, 28% of all automobiles produced in the U.S.
were all electric. Their
reintroduction was incremental: in 1997 both Toyota and Audi
introduced mass-
produced hybrid cars—100 years after Ferdinand Porsche had
developed the fi rst
hybrid car in which an internal combustion engine powered an
electric motor. The
launch of highway-capable, mass-produced, all-electric cars was
much anticipated
but long delayed—despite the well established markets for
neighborhood electric
vehicles (NEVs)—golf carts, maintenance vehicles, and site-
transport vehicles. At the
beginning of 2012, all the leading vehicle manufacturers had
30. all-electric models in
development, but the only mass-marketed all-electric, plug-in
cars were the Nissan
Leaf and the Mitsubishi iMiEVs.
Changes in manufacturing technology
At the beginning of the twentieth century, car manufacture, like
carriage-making, was
a craft industry. Few companies produced more than a 1000
automobiles annually.
When Henry Ford began production in 1903, he used a similar
approach. His vision of
an aff ordable, mass-produced automobile required the
development of more precise
machine tools that would permit interchangeable parts. In 1913,
he instituted his new
system of production. Components were produced either in
batches or continuously and
were then assembled on moving assembly lines by semi-skilled
workers. The productivity
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gains were enormous. In 1912 it took 23 man-hours to assemble
a Model T; just 14 months
later it took just 4 hours.
Toyota’s “lean production” was the second major revolution in
process technology.
Toyota developed its system in postwar Japan where shortages
of key materials
encouraged extreme parsimony and avoidance of inventories and
waste. Lean production
combined statistical process control, just-in-time scheduling,
quality circles, teamwork
and fl exible production (multiple models were manufactured on
a single production
line). During the 1980s and 1990s all the world’s car
manufacturers redesigned their
manufacturing processes to incorporate aspects of Toyota’s lean
production.
Flexible, lean plants reduced the importance of scale economies
in assembly. Minimum
effi cient scale once required plants producing over 400 000
units a year. After 1990, most
new assembly plants had capacities of between 150 000 and 300
33. 000 units per annum.
However, scale economies remained important in components
and subassemblies: the
minimum effi cient scale for an engine plant was around 1
million units annually.
New product development
The increasing complexity of new cars in terms of electronics,
and new safety and
environmental standards caused the cost of developing new
models to rise steeply.
Taking an entirely new, mass-production model from drawing
board to production
line typically cost more than $2 billion. Ford’s
Mondeo/Contour—its fi rst global
model—launched in 1994 cost a total of $6 billion (including
tooling). The need to
amortize huge development costs over large numbers of vehicles
was the primary
driver of consolidation in the industry. Small automakers had
the choice of merging
with bigger rivals or seeking niche positions. Geographically-
focused manufacturers
such as Tofas of Turkey and Proton of Malaysia licensed
designs from the global auto
makers. The tiny Morgan company survived by making the same
hand-crafted sports
car that it had designed in the late 1930s. The quest to
economize on new product
development costs also encouraged a variety of strategic
alliances and joint ventures
among the auto makers.
To economize on new product development costs, a major trend
in the industry
was to use a single platform for multiple models. A “platform”
34. comprised a vehicle’s
architecture including its fl oorpan, suspension system and
layout of powertrain and major
components. While the major car makers widened their model
ranges, they increasingly
based these around a few platforms—typically between four and
six. Similarly with
major components: in engines, Ford moved to three engine
families: V-8/V-10, V-6 and
I-4 (four in-line cylinders). The I-4 engine had over 100
variations, an annual volume of
1.5 million,and was built at three diff erent plants—one in
North America, one in Europe
and one in Japan.
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The world auto industry in 2012
The manufacturers
The ranks of the leading producers were dominated by U.S.,
Japanese, and Western European
companies—plus Hyundai of Korea (see Table 3). All were
multinational: Toyota, GM and
Ford each produced more vehicles outside their home countries
than within. Compared
with comparable industries—aircraft, motorcycles, or
construction equipment—the
auto industry remained fragmented—in 2010 there were 18
manufacturers with annual
output exceeding 1 million vehicles and the 3-fi rm
concentration ratio (measured by units
of production) was 31.5%. Despite the many mergers and
acquisitions (see Table 4), the
industry’s consolidation was limited to the emergence of new
36. competitors (from China
and India especially). The crisis of 2008–9 resulted in several
divestments, but only one
major merger: between Fiat and Chrysler.
Table 3 The world’s leading auto manufacturers
1992 1996 2002 2005 2007 2010
GM U.S. 6764 8176 8326 9200* 9350 8476
Toyota Japan 4249 4794 6626 7974* 8534 8557
Volkswagen Germany 3286 3977 5017 5243* 6268 7341
Ford U.S. 5742 6611 6729 6818* 6248 4988
Daimler Germany 605 993
4456 4829* 4635
1940
Chrysler U.S. 2476 2958 1578
Hyundaia S. Korea 874 1402 2642 2534* 3987 5765
Honda Japan 1762 2021 2988 3391* 3912 3643
Peugeot France 2437 1975 3262 3375 3457 2605
Nissan Japan 2963 2712 2719 3569* 3431 3982
Fiat Italy 1800 2545 2191 1708* 2679 2410
Renaultb France 1929 1755 2329 2533* 2669 2716
37. Suzuki Japan 888 1387 1704 2630 2596 2893
BMW Germany 598 641 1091 1328* 1542 1481
Mitsubishi Japan 1599 1452 1821 1381 1412 1174
Mazda Japan 1248 984 1044 1149* 1287 1308
Daihatsu Japan 610 691 n.a. 909 856 — c
Chang’an Automobile China n.a. n.a. n.a. n.a. n.a. 1103
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Tata India n.a. n.a. n.a. n.a. 588 1011
FAW China n.a. n.a. n.a. n.a. 691 896
Geely China n.a n.a n.a n.a n.a 802
Fuji Japan 648 525 542 571 585 650
Dongfen Motor China n.a n.a n.a n.a n.a 650
Notes:
n.a. = not available.
*Sales data.
a Including Kia.
b Including Dacia and Samsung.
c Included in Toyota
Source: Ward’s Automotive Yearbook; Wikipedia
Table 4 Mergers and acquisitions among automobile
manufacturers,
1986–2011
Year Acquirer Target Notes
2010 Geely (China) Volvo (Sweden) Sold by Ford for $1.3 bn.
Spyker Cars (Neth.) Saab Auto (Sweden) Sold by GM for $1bn.
40. 2009 Volkswagen (Germany) Suzuki (Japan) Acquires 20%
stake
Fiat (Italy) Chrysler (U.S.) Acquires 35% stake, later
increased to 58%
Volkswagen Porsche (Germany) Acquires 49%
Beijing Auto (China) Fujian Motor; Changfeng
Motor (China)
2008 Tata (India) Jaguar Cars, Land Rover (U.K.) Sold by Ford
SAIC Motor Group (China) Nanjing Automobile (China) SAIC
combines MG and Rover
brands
2005 Nanjing Automobile Rover (U.K.)
Toyota (Japan) Fuji Heavy Industries (Japan) Acquired 8.7%
stake from GM
2002 GM (U.S.) Daewoo (S. Korea) 42% of equity acquired
2000 Renault (France) Samsung Motors (S. Korea) 70% of
equity acquired
GM Fiat 20% of equity acquired
DaimlerChrysler (Germany) Hyundai (S. Korea) 10% of equity
acquired
DaimlerChrysler Mitsubishi Motors (Japan) 34% of equity
acquired
41. 1999 Renault (France) Nissan (Japan) 38.6% of equity acquired
Ford (U.S.) Volvo Acquires car business only
Ford Land Rover Acquired from BMW
Toyota Daihatsu 51% stake acquired
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1998 Daimler Benz (Germany) Chrysler Biggest auto merger
ever
VW (Germany) Rolls Royce Motors (U.K.) Acquired from
Vickers plc
Hyundai (South Korea) Kia (S. Korea)
Daewoo (South Korea) Ssangyong Motor (South
Korea)
Daewoo (South Korea) Samsung Motor (South
Korea)
1997 Proton (Malaysia) Lotus (U.K.)
BMW (Germany) Rover (U.K.)
1996 Daewoo (South Korea) FSO (Poland)
Daewoo (South Korea) FS Lublin (Poland)
Ford (U.S.) Mazda (Japan) Increases stake from 25% to 33%
1995 Fiat (Italy) FSM (Poland)
43. 1994 Daewoo (S. Korea) Oltcit/Rodae (Romania)
1991 Volkswagen Skoda (Czech Rep.) 31% stake later increased
to
100%
1990 GM Saab-Scandia (Sweden) 50% of equity acquired
Ford Jaguar
1987 Ford Aston Martin (U.K.)
Chrysler Lamborghini (Italy)
1986 Volkswagen Seat (Spain)
Source: Newspaper reports (various).
Outsourcing and the role of suppliers
Henry Ford’s system of mass production was supported by
intensive backward
integration. At Ford’s giant River Rouge plant, iron ore entered
at one end, Model
Ts emerged at the other. Ford even owned rubber plantations in
the Amazon basin.
Since 1980, the quest for lower costs and increased fl exibility
has resulted in massive
outsourcing of materials, components, and services. At the end
of the 1990s GM and Ford
both spun off their component businesses as separate
companies: Delphi and Visteon,
respectively. Relationships with suppliers also changed. The
Japanese model of close,
collaborative long-term relationships with their “fi rst-tier”
suppliers has displaced the U.S.
44. model of contract-based, arm’s-length relationships. The new
system has resulted in the
component companies gaining increased responsibility for
technological development—
especially for sophisticated subassemblies such as
transmissions, braking systems, and
electrical and electronic equipment. The component producers
have also grown in size
and global reach. Bosch, Denso, Johnson Controls and Delphi
are as big as some of the
larger automobile companies (see Table 5).
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The quest for cost reduction
Strong competition pressured companies to seek cost reduction
through several sources:
� Economies of scale were critically important in research,
component production,
and product development. According to Sergio Marchionne, the
CEO of Fiat and
Chrysler, effi ciency for a global auto producer required
producing at least fi ve
million cars a year: companies producing less would struggle to
survive.4
� Economies of scope. Many cost economies could be
exploited across diff erent
models. Investments in technology, dealerships, and marketing
could be applied
across all models—indeed, the use of common components and
platforms
meant that economies of scope were often converted into
economies of scale.
By 2012, all the leading auto makers had models ranges that
covered almost
every product segment from luxury cars to mini-cars—including
SUVs. However,
Ford had narrowed its product range by selling its Jaguar, Land
Rover, and Volvo
subsidiaries.
� Worldwide outsourcing. Outsourcing has grown from
individual components to
major subassemblies (such as engines and steering systems)—
even to complete
48. n.a. = not available.
Sources: Financial Times, Fortune.
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cars (including design and engineering). An important source of
cost savings from
outsourcing derives from component suppliers’ lower wages and
benefi ts compared
to the auto assemblers.
� Just-in-time scheduling, a key element of lean production,
permitting radical
reductions in inventories and work-in-progress.
� Off -shoring. Geographical shifts in production were partly
the result of automakers
seeking lower cost manufacturing locations; Toyota moved
production from Japan
to lower cost locations in Southeast Asia; Volkswagen from
Germany to central and
eastern Europe.
� Collaboration. Collaborative arrangements included joint-
venture plants,
technology alliances, component supply agreements and joint
marketing
agreements. In emerging market countries, most new auto plants
were joint
ventures between local and overseas companies. These
arrangements economized
on the costs of developing new technologies and new products,
and accessing
overseas markets. Ford’s network of alliances (see Figure 4) are
typical of linkages
50. among the automobile companies.
Figure 4 Ford’s alliances with other automakers
FORD
BMW
Supplies of parts to one
another. Ford Malaysia
assembles BMW cars.
Collaboration on
Hydrogen research
CHONGQING
CHANGAN
Joint venture to
assemble Ford v
Vehicles in China
CHRYSLER
Joint research into
Emissions and electric
vehicle technology
DAIMLER
Joint research
into fuel cells
FIAT
Iveco Ford Truck Ltd
is a UK truck making
Joint venture
51. FIRST AUTO WORKS
A joint venture with Volvo to
produce engines in China
GENERAL MOTORS
Joint venture to produce
transmissions
MARUTI
Joint venture to
produce components
in India
MAZDA
Equity stake cut to 13%.
Shared technology,
designs & components.
Several JVs.
PEUGEOT
Partnering in
diesel engines
TATA
Purchase of Jaguar
& Land Rover linked to
cooperation on
technology
and components
TOYOTA
Patent cross-licensing
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Despite constant cost-cutting, the major automakers were unable
to rival low cost
producers in China, India, and elsewhere. Tata Motors’ 2009
launch of its Nano model—
four-seater, 623cc city car, with fuel cosumption of 70 miles per
gallon and priced at
a mere $2200—was a major shock to the multinational
automakers. However, the
subsequent diffi culties that the Nano encountered in terms of
54. production, safety and
market acceptance point to the sheer complexity of the bringing
an innovative new
model to market and the challenges facing emerging market
automakers in rivaling the
experience and expertise of the established giants.5
Excess capacity
The greatest structural problem of the industry was excess
capacity. Ever since the early
1980s, the growth of production capacity had outstripped the
growth in the demand
for cars. Import restrictions had exacerbated the problem.
During the 1980s and early
1990s, North American production capacity grew substantially
as a result of Japanese
companies building greenfi eld “transplants.” Further big
additions to world production
capacity resulted from the expansion of the Korean car industry
during 1992–7. Since
2000, the main additions to capacity were in Eastern Europe,
Asia and Latin America
where all the world’s leading automakers rushed to build new
plants to serve growing
demand. The biggest overhangs of excess capacity were in
North America and Europe
(see Table 6), but even in China, where demand grew by almost
50% annually between
2002 and 2011, growth of capacity outstripped growth in
demand. Looking ahead,
the prospects of reducing excess capacity were limited by, fi rst,
the resistance by
national governments to plant closures; second, continuing
investment in new plants
in emerging market countries—in China capacity utilization was
forecast to fall to 66%
55. by 2016.
Table 6 Automobile production capacity utilization
2008 2009 2010
North America 79% 44% 65%
South America 82% 62% 75%
Europe 84% 65% 68%
Japan and Korea 86% 72% 78%
South Asia 89% 83% 81%
Source: Various press and consulting fi rm reports.
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Internationalization
International expansion was driven primarily by the auto
makers’ desire to access
growing markets; to exploit scale economies in purchasing,
technology, and new product
development; and to seek low-cost manufacturing locations (see
Table 6). Although
Ford and General Motors began their international expansion
back in the 1920s, until
the 1970s the world auto industry was made up of separate
national markets where
each national market was dominated by indigenous producers.
The global strategies of
the Japanese automakers changed all that. After 1980, the main
strategic priority of all
57. the world’s major auto companies was to build aglobal presence
through acquisition,
alliance and joint venture. As a result of internationalization,
the dominance of national
champions was undermined (see Table 7).
Table 7 Hourly compensation for motor vehicle workers (U.S.$
per hour,
including benefi ts)
1975 1984 1994 2004 2006 2009*
Germany 7.9 11.9 34.7 44.0 45.9 46.5
U.S. 9.6 19.0 27.0 33.9 35.1 33.5
U.K. 4.1 7.4 16.0 29.4 30.0 30.8
France 5.1 8.2 18.8 26.3 29.4 40.1
Japan 3.6 7.9 25.9 27.4 27.8 30.4
Spain 3.7 5.3 15.4 21.5 24.2 27.7
Korea 0.5 1.7 7.8 15.8 19.0 14.2
Italy 5.2 8.0 16.3 21.7 18.6 35.0
Mexico 2.9 2.6 3.0 3.5 3.7 5.4
Note: The 2009 data relates to all manufacturing industry; the
data for earlier years refers to motor vehicle manufacture only.
Source: U.S. Department of Labor, Bureau of Labor Statistics.
Table 8 Automobile market shares in individual countries (%)
58. 1988 2006 2010 1988 2006 2010
U.S.* U.K.
GM 36.3 23.5 19.1 Ford 26.3 18.5 15.8
Ford 21.7 16.7 16.5 GM (Vauxhall) 13.7 12.7 12.8
Chrysler 11.3 8.8 9.3 Peugeot 8.7 10.0 8.8
Toyota 6.9 13.9 15.3 VW/Audi 5.9 12.9 16.0
Honda 6.2 8.8 10.7 BMW (& Rover) 15.0 4.6 6.9
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FRANCE JAPAN
Renault 29.1 24.8 22.1 Toyota 43.9 40.4 34.4
Peugeot 34.2 28.2 32.4 Nissan 23.2 14.0 12.8
VW 9.2 11.6 11.0 Honda 10.8 12.2 14.2
Ford 7.1 6.0 5.1 Suzuki n.a. 12.1 11.4
ITALY KOREA
Fiat 59.9 28.5 30.1 Hyundai 55.9 50.0 37.6
VW/Audi 11.7 10.8 11.6 Kia 25.0 23.3 28.2
Ford 3.7 7.8 9.1 Daewoo 19.1 10.0 22.7
Peugeot n.a. 9.6 10.3 CHINA
Renault 7.1 6.4 Shanghai GM 10.4
GERMANY Shanghai VW 9.7
VW/Audi 28.3 27.8 35.1 FAW Volkswagen 8.9
GM (Opel) 16.1 9.7 8.9 Beijing Hyundai 6.1
Ford 10.1 8.0 6.8 Dongfeng PSA 6.0
Daimler 9.2 11.3 10.6 BYD 5.5
61. Chery 5.1
Notes:
* The market share data is for passenger cars only with the
exception of the U.S. which is for cars and light trucks.
n.a. = not available.
Sources: Japan Automobile Manufacturers Association; Korean
Automobile Manufacturers Association; A. K. Binder (Ed.),
Ward’s Automotive Yearbook, 2009, Wards Communications,
Southfi eld MI, 2009.
Outlook for the future
As he reviewed the forces likely to impact the world automobile
industry during the next
fi ve years, he found it diffi cult to assess their combined
impact of these forces on the
overall intensity of competition in the industry.
While Ford had forecasts for demand growth in all the major
markets of the world,
even if the more optimistic boundaries of these forecasts were
achieved, market growth
would not translate into adequate profi t margins if the chronic
overhang of excess
capacity remained. In the mature industrialized countries there
seemed little prospect
that either market growth or that plant closures would eliminate
the overhang of excess
capacity. Indeed, the growth in alternative transport modes—
included shared car
ownership—pointed to the possibility of decline in private
automobile use. In the newly
62. industrializing countries—especially Asia and Latin America
where Ford had pinned most
of its hopes—the indications were that capacity expansion
would outstrip sales growth.
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The international aspirations of leading emerging markets
producers suggested that
the established auto makers would be facing more intense
competition. Tata Motor’s
acquisitions of Jaguar and Land Rover, Geely’s of Volvo and
SAIC’s of the MG and Rover
brands provides these fi rms with international platforms from
which to compete.
The introduction of all-electric cars, while off ering the
prospects for new demand,
might also be an opportunity for newcomers to muscle-in on the
market domains of
the major auto makers. Despite the tiny market share of hybrid
and all-electric vehicles,
environmental concerns, environmental regulation, and
depleting oil reserves pointed
to their potential to increasingly displace conventional
automobiles. Despite heavy
investments by most of the leading car makers in both hybrid
and all-electric autos,
leaders in electrical vehicles included Magna International, the
Canadian auto parts
producer, Tesla, a Californian start-up producers of luxury
electrical cars, Smiths Electrical
vehicles in electrically-powered trucks, BYD Auto the leading
Chinese producer of hybrid
and electric cars, and Think Global the Norwegian producer of
64. electric cars owned by the
Russian fi rm, Electric Mobility
Solution
s.
Despite the gloom that pervaded many experts’ outlook on the
auto sector, Booth
saw several rays of light. He had noted the success—in terms of
both sales and profi t
margins—of several small cars, notably the BMW Mini and Fiat
Cinquecento. It appeared
that customer preferences—even in the US—were shifting with
a greater interest in
fuel economy, safety, and aesthetics. After a long period when
diff erent manufacturers’
mass market models had been becoming increasingly similar,
the future might off er
greater potential for diff erentiation, including mass-
customization that the car makers
had hardly begun to exploit;cars ºhad been e auto form’s belief
in the superiority of the
internal combustion engine.
65. Underlying these opportunities were new approaches to product
development—
including virtual prototyping, modular design and collaborative
design and
development—which had the potential to overturn conventional
relationships between
scale and cost competitiveness within the industry.
Appendix
Table 9 Company sales ($ billion)
1980–4a 1985–9a 1990–4a 1995–9a 2000-4a 2005-9 a 2010
Toyota 18 42 82 107 125 205 222
VW 16 28 48 64 96 143 168
GM 68 110 128 169 186 167 135
Ford 42 77 96 149 166 155 129
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71. a Annual average.
b Daimler Chrysler 2000–6.
n.a. = not available.
Source: Company Financial Statements; Hoovers.
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73. 1 Ford Motor Company, Business Plan Submitted to the Senate
Banking Committee,
December 2, 2008.
2 “U.S. Car Industry: Back on the Road, “ Financial Times,
June 17, 2009.
3 Automobiles (passenger motor cars) used to transport people
are normally
distinguished from commercial vehicles (trucks) used to
transport goods. However,
in the US, sport-utility vehicles and pick-up trucks (classed as
light trucks) are used
primarily for personal transportation. Ideally we would like to
defi ne the automobile
industry as comprising automobiles and light trucks (small vans,
pick-up trucks, SUVs,
passenger vans), but excluding heavy trucks and large buses.
However, most of the
statistics we use, “automobiles” exclude light trucks, while
“motor vehicles comprise
automobiles and and all trucks and buses.
4 “Fiat’s Marchionne sees auto-industry consolidation”
MarketWatch, Sept. 9, 2011.
74. http://w w w.market watch.com/stor y/fiats-marchionne -sees-
auto -industr y-
consolidation-2011-09-09
5 “Tata’s Nano: Stuck in low gear,” The Economist, August 20,
2011.
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Ford and the world
automobile industry
in 2012
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At the beginning of 2012, the Chief Financial Offi cer of Ford
Motor Company, Lewis Booth,
was reviewing his fi nancial forecasts for 2012-16. Ford’s
75. turnaround since the crisis of
2007-8 had been remarkable. After a loss of $14.7 billion in
2008, Ford earned net profi ts
of $6.6 billion in 2010, and it looked as though Ford’s profi t
for 2011 would exceed this.
The recovery had been much more rapid than Booth had
expected. Ford’s business plan of
December 2008 projected that it would not break even until
2011.1 Booth attributed the
speed of the turnaround to three factors: fi rst government
measures in North America and
Europe to stimulate demand through incentives for scrapping
old cars and subsidies for
purchasing new, fuel-effi cient models; second, the recovery of
demand in several major
markets including China, India, Brazil and the US; third, Ford’s
own restructuring. The “One
Ford” transformation plan introduced in 2006 had closed plants,
cut Ford’s workforce from
295 000 at the beginning of 2006 to 148 000 at the end of 2011,
sold Jaguar, Land Rover
and Volvo and a large chunk of Mazda; integrated Ford’s global
activities; and accelerated
product development including an increasing emphasis on
smaller cars.
76. Despite these successes, Booth looked to the future with much
trepidation. Ford’s
performance over the next fi ve years would depend on three
main factors: Ford’s ability
to continuing success with its One Ford strategy, the state of the
world economy, and
developments in the global automobile industry. On the fi rst of
these, Booth had few
doubts. On the second, he realized that, for all the uncertainty,
there was little that Ford
could do other than closely monitor the unfolding economic
situation and be prepared
to adapt to unforeseeable events. On developments in the global
automobile industry,
Booth was perplexed.
The collapse in industry profi tability in 2007-9 and descent
into bankruptcy of General
Motors and Chrysler was not simply a consequence of the fi
nancial crisis. It also refl ected
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[I]nstead of natural selection, something else happened:
governments around
the world, from Canada and Brazil to Russia and South Korea,
stepped in with
prodigious amounts of cash to keep car plants open and
assembly lines running.
All told, automakers have benefi ted from well in excess of
$100 billion of direct
bail-out funds or indirect state aid . . . the biggest ever short-
term intervention in
manufacturing . . . (T)he money has prevented a necessary
shake-out in an industry
that has long had too many producers. Consultants at PwC
estimate the industry
79. has the capacity to build 86 million units this year, almost a
record—and 31 million
more than the 55 million vehicles that it will sell.2
the massive structural problems of the industry—most notably,
too many fi rms with too
much capacity chasing too little demand. The catastrophic
declines in industry revenues
and profi ts in 2008 promised a major industry restructuring.
Daimler’s CEO had predicted
that 2009 would be a “Darwinian year” for the auto industry.
Yet, the industry’s pre-crisis
structure survived almost intact. The Financial Times
commented:
Even before fi nancial crisis hit, the fi nancial performance of
the industry was dire:
between 1990 and 2008 the world’s fi ve biggest auto makers
(GM, Toyota, Ford, Daimler-
Chrysler and Volkswagen) had earned on average a net margin
of 1.1%; their return on
invested capital and together they had destroyed billions in
shareholder value. However,
despite the lack of exit or consolidation by the leading auto
makers, it was clear that
80. the structure of the industry was far from remaining static. The
shifting of demand from
the mature industrial nations to the growing markets of Asia,
Eastern Europe and Latin
America was accompanied by the emergence of new competitors
from these same
regions. Meanwhile, new technologies and environmental
concerns—including the
growing use of all-electric vehicles—wereredirecting the
industry’s development path.
Understanding how these diff erent forces would impact the
overall profi t potential of the
world automobile industry would be a key determinant of Ford’s
fi nancial performance
in the coming years.
Development of the world automobile industry3,4
The growth of demand and production
Vehicles powered by internal-combustion appeared in Europe
during the 1880s—Gottlieb
Daimler and Karl Benz were among the fi rst. By the end of the
19th century, hundreds of
small companies were producing automobiles both in Europe
and in America.
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During the 20th century the industry followed diff erent
development paths in
diff erent parts of the world. The U.S. auto industry grew
rapidly during 1910–28 and
1946–65 before reaching market saturation (see Figure 1).The
automobile industries of
Western Europe and Japan also experienced maturing of their
markets with production
peaking in 1989–90. In all the advanced industrial countries the
increased longevity of
cars dampened market demand (see Figure 2).
84. Despite declining output in the advanced industrialized
countries, the world
automobile industry has continued to grow (see Figure 3). This
growth has been the
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
1900 1905 1910 1915 1920 1925 1930 1935 1940 1945 1950
1955 1960 1965 1967 1970 1975 1980 1985 1990 1995 2000
2005 2008
85. Trucks and Buses 0 750 6,000 74,00 321,7 530,6 575,3 697,3
754,9 655,6 1,337 1,249 1,194 1,751 1,539 1,692 2,272 1,667
3,464 3,718 5,634 7,228 7,656 6,733
Passenger Vehicles 4,192 24,25 181,0 895,9 1,905 3,735 2,787
3,273 3,717 69,53 6,665 7,920 6,674 9,305 7,436 6,546 6,712
6,400 8,002 6,049 6,350 5,542 4,321 3,777
Passenger Vehicles Trucks and Buses
Figure 1 U.S. motor vehicle production, 1900–2008
Figure 2 Median age of passenger cars in the U.S.
Source: R. L. Polk & Co.
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Table 1 World motor vehicle production by countries and
regions
(% of world total)1
1960 1989 1994 2000 2005 2008 2010
U.S. 52.0 23.8 24.5 22.2 20.0 18.6 12.9
Western Europe 38.0 31.7 31.2 29.9 28.4 20.7 14.6
Central and E. Europe 2.0 4.8 4.3 4.6 5.4 9.5 7.7
Japan 1.0 18.2 21.2 17.7 17.0 16.7 12.6
Korea n.a. 1.8 4.6 5.0 5.3 5.5 5.6
China n.a. n.a. 2.7 3.5 5.7 13.3 24.0
World total (millions) 12.8 49.5 50.0 57.4 66.8 69.4 76.1
88. Note:
1 Motor vehicles include automobiles, trucks and buses.
Source: A. K. Binder (ed.), Ward’s Automotive Yearbook, 2011,
Wards Communications, Southfi eld MI, 2011.
result of growing output from the newly industrializing
countries—notably Korea, China,
Brazil, and India. (see Table 1). As a result, the proportion of
world output contributed by
the traditional production centers—the US, Western Europe, and
Japan—fell from 77% in
1994 to 40% in 2010 (see Table 2).
Figure 3 World motor vehicle production, 1965–2008
0.0%
10.0%
20.0%
30.0%
95. o
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World Total US & Canada as % of Total
AU: We have
deleted
repetition of
Table 1.
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Table 2 Leading automobile-producing countries (thousands of
cars;
excludes trucks)
1987 1990 1995 2000 2005 2008 2010
China n.a. n.a. 356 620 3118 6341 9494
Japan 7891 9948 7664 8363 9017 9916 8307
Germany 4604 4805 4360 5132 5350 5532 5552
Brazil 789 663 1312 1348 2009 2561 2828
Korea 793 987 1893 1881 2195 2436 2793
U.S. 7099 6077 6338 5542 4321 3777 27311
99. India n.a. n.a. 394 541 999 1507 2317
Spain 1403 1679 1959 2445 2098 2014 1951
France 3052 3295 3051 2883 3113 2144 1914
Mexico 266 346 710 1130 846 1217 1386
Russia2 1329 1260 834 967 1288 1469 1208
U.K. 1143 1296 1532 1641 1596 1448 1274
Czech Rep. n.a. n.a. 193 428 599 933 1070
Canada 810 1072 1339 1551 1356 1195 967
Poland 301 256 260 533 527 840 799
Italy 1701 1874 1422 1442 726 659 573
Notes:
1 The production data for the US do not include the large
volumes of pick-up trucks and SUVs produced by the
automobile companies but classed as trucks.
100. 2 U.S.S.R. in 1987 and 1990.
Sources: Japan Automobile Manufacturers Association; Korean
Automobile Manufacturers Association; A. K. Binder (Ed.),
Ward’s Automotive Yearbook, 2011, Wards Communications,
Southfi eld MI, 2011.
e
f
The evolution of the automobile
The early years of the industry were characterized by
considerable uncertainty
over the design and technology of the motorcar. The fi rst
“horseless carriages” were
precisely that—they followed design features of existing horse-
drawn carriages and
buggies. Soon a bewildering variety of technologies were
competing. The internal-
combustion engine vied with the steam propulsion and electric
motors. Transmission
systems, steering systems and brakes all displayed a remarkable
range of technologies
101. and designs.
Over the years, technologies and designs converged. The Ford
Model T with its front-
mounted, water-cooled, four-cylinder engine represented the fi
rst “dominant design”
in automobiles. Convergence continued throughout the
twentieth century with the
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103. such as those of the VW Beetle disappeared along with
Citroen’s distinctive suspension
systems. Power trains standardized around four cylinders, in-
line engines, with V-6
and V-8 confi gurations for larger cars. Front-wheel drive
became standard on smaller
cars; suspension, steering, braking systems and body shapes
became more similar.
Technological progress was incremental: new materials, new
safety features, multi-valve
cylinders, and applications of electronics such as traction
control systems, electronic fuel
injection, variable suspension, satellite navigation systems, and
intelligent monitoring
systems.
Convergence also occurred across countries. The distinctive diff
erences that once
distinguished American, French and Japanese cars largely
disappeared—partly due
to the manufacturers’ promotion of global models. The same
market segments are
present in diff erent countries, though the sizes of these
segments vary greatly across
countries.In the U.S., “mid-size” family sedans, SUVs, and
104. pickup trucks are the largest
segments; in Europe and Asia, small family cars
(“subcompacts”) formed the largest
market segment.
This trend toward design convergence and piecemeal innovation
was interrupted
by the introduction of electric powered cars. This was hardly a
disruptive technology:
the fi rst electrically-powered cars and buses were in use at the
beginning of the 20th
century—in 1900, 28% of all automobiles produced in the U.S.
were all electric. Their
reintroduction was incremental: in 1997 both Toyota and Audi
introduced mass-
produced hybrid cars—100 years after Ferdinand Porsche had
developed the fi rst
hybrid car in which an internal combustion engine powered an
electric motor. The
launch of highway-capable, mass-produced, all-electric cars was
much anticipated
but long delayed—despite the well established markets for
neighborhood electric
vehicles (NEVs)—golf carts, maintenance vehicles, and site-
transport vehicles. At the
105. beginning of 2012, all the leading vehicle manufacturers had
all-electric models in
development, but the only mass-marketed all-electric, plug-in
cars were the Nissan
Leaf and the Mitsubishi iMiEVs.
Changes in manufacturing technology
At the beginning of the twentieth century, car manufacture, like
carriage-making, was
a craft industry. Few companies produced more than a 1000
automobiles annually.
When Henry Ford began production in 1903, he used a similar
approach. His vision of
an aff ordable, mass-produced automobile required the
development of more precise
machine tools that would permit interchangeable parts. In 1913,
he instituted his new
system of production. Components were produced either in
batches or continuously and
were then assembled on moving assembly lines by semi-skilled
workers. The productivity
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gains were enormous. In 1912 it took 23 man-hours to assemble
a Model T; just 14 months
later it took just 4 hours.
Toyota’s “lean production” was the second major revolution in
process technology.
Toyota developed its system in postwar Japan where shortages
of key materials
encouraged extreme parsimony and avoidance of inventories and
waste. Lean production
combined statistical process control, just-in-time scheduling,
quality circles, teamwork
and fl exible production (multiple models were manufactured on
a single production
line). During the 1980s and 1990s all the world’s car
109. manufacturers redesigned their
manufacturing processes to incorporate aspects of Toyota’s lean
production.
Flexible, lean plants reduced the importance of scale economies
in assembly. Minimum
effi cient scale once required plants producing over 400 000
units a year. After 1990, most
new assembly plants had capacities of between 150 000 and 300
000 units per annum.
However, scale economies remained important in components
and subassemblies: the
minimum effi cient scale for an engine plant was around 1
million units annually.
New product development
The increasing complexity of new cars in terms of electronics,
and new safety and
environmental standards caused the cost of developing new
models to rise steeply.
Taking an entirely new, mass-production model from drawing
board to production
line typically cost more than $2 billion. Ford’s
Mondeo/Contour—its fi rst global
model—launched in 1994 cost a total of $6 billion (including
110. tooling). The need to
amortize huge development costs over large numbers of vehicles
was the primary
driver of consolidation in the industry. Small automakers had
the choice of merging
with bigger rivals or seeking niche positions. Geographically-
focused manufacturers
such as Tofas of Turkey and Proton of Malaysia licensed
designs from the global auto
makers. The tiny Morgan company survived by making the same
hand-crafted sports
car that it had designed in the late 1930s. The quest to
economize on new product
development costs also encouraged a variety of strategic
alliances and joint ventures
among the auto makers.
To economize on new product development costs, a major trend
in the industry
was to use a single platform for multiple models. A “platform”
comprised a vehicle’s
architecture including its fl oorpan, suspension system and
layout of powertrain and major
components. While the major car makers widened their model
ranges, they increasingly
111. based these around a few platforms—typically between four and
six. Similarly with
major components: in engines, Ford moved to three engine
families: V-8/V-10, V-6 and
I-4 (four in-line cylinders). The I-4 engine had over 100
variations, an annual volume of
1.5 million,and was built at three diff erent plants—one in
North America, one in Europe
and one in Japan.
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113. The manufacturers
The ranks of the leading producers were dominated by U.S.,
Japanese, and Western European
companies—plus Hyundai of Korea (see Table 3). All were
multinational: Toyota, GM and
Ford each produced more vehicles outside their home countries
than within. Compared
with comparable industries—aircraft, motorcycles, or
construction equipment—the
auto industry remained fragmented—in 2010 there were 18
manufacturers with annual
output exceeding 1 million vehicles and the 3-fi rm
concentration ratio (measured by units
of production) was 31.5%. Despite the many mergers and
acquisitions (see Table 4), the
industry’s consolidation was limited to the emergence of new
competitors (from China
and India especially). The crisis of 2008–9 resulted in several
divestments, but only one
major merger: between Fiat and Chrysler.
Table 3 The world’s leading auto manufacturers
1992 1996 2002 2005 2007 2010
114. GM U.S. 6764 8176 8326 9200* 9350 8476
Toyota Japan 4249 4794 6626 7974* 8534 8557
Volkswagen Germany 3286 3977 5017 5243* 6268 7341
Ford U.S. 5742 6611 6729 6818* 6248 4988
Daimler Germany 605 993
4456 4829* 4635
1940
Chrysler U.S. 2476 2958 1578
Hyundaia S. Korea 874 1402 2642 2534* 3987 5765
Honda Japan 1762 2021 2988 3391* 3912 3643
Peugeot France 2437 1975 3262 3375 3457 2605
Nissan Japan 2963 2712 2719 3569* 3431 3982
Fiat Italy 1800 2545 2191 1708* 2679 2410
115. Renaultb France 1929 1755 2329 2533* 2669 2716
Suzuki Japan 888 1387 1704 2630 2596 2893
BMW Germany 598 641 1091 1328* 1542 1481
Mitsubishi Japan 1599 1452 1821 1381 1412 1174
Mazda Japan 1248 984 1044 1149* 1287 1308
Daihatsu Japan 610 691 n.a. 909 856 — c
Chang’an Automobile China n.a. n.a. n.a. n.a. n.a. 1103
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Tata India n.a. n.a. n.a. n.a. 588 1011
FAW China n.a. n.a. n.a. n.a. 691 896
Geely China n.a n.a n.a n.a n.a 802
Fuji Japan 648 525 542 571 585 650
Dongfen Motor China n.a n.a n.a n.a n.a 650
Notes:
n.a. = not available.
*Sales data.
a Including Kia.
b Including Dacia and Samsung.
c Included in Toyota
119. Source: Ward’s Automotive Yearbook; Wikipedia
Table 4 Mergers and acquisitions among automobile
manufacturers,
1986–2011
Year Acquirer Target Notes
2010 Geely (China) Volvo (Sweden) Sold by Ford for $1.3 bn.
Spyker Cars (Neth.) Saab Auto (Sweden) Sold by GM for $1bn.
2009 Volkswagen (Germany) Suzuki (Japan) Acquires 20%
stake
Fiat (Italy) Chrysler (U.S.) Acquires 35% stake, later
increased to 58%
Volkswagen Porsche (Germany) Acquires 49%
Beijing Auto (China) Fujian Motor; Changfeng
Motor (China)
2008 Tata (India) Jaguar Cars, Land Rover (U.K.) Sold by Ford
120. SAIC Motor Group (China) Nanjing Automobile (China) SAIC
combines MG and Rover
brands
2005 Nanjing Automobile Rover (U.K.)
Toyota (Japan) Fuji Heavy Industries (Japan) Acquired 8.7%
stake from GM
2002 GM (U.S.) Daewoo (S. Korea) 42% of equity acquired
2000 Renault (France) Samsung Motors (S. Korea) 70% of
equity acquired
GM Fiat 20% of equity acquired
DaimlerChrysler (Germany) Hyundai (S. Korea) 10% of equity
acquired
DaimlerChrysler Mitsubishi Motors (Japan) 34% of equity
acquired
1999 Renault (France) Nissan (Japan) 38.6% of equity acquired
Ford (U.S.) Volvo Acquires car business only
121. Ford Land Rover Acquired from BMW
Toyota Daihatsu 51% stake acquired
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123. Hyundai (South Korea) Kia (S. Korea)
Daewoo (South Korea) Ssangyong Motor (South
Korea)
Daewoo (South Korea) Samsung Motor (South
Korea)
1997 Proton (Malaysia) Lotus (U.K.)
BMW (Germany) Rover (U.K.)
1996 Daewoo (South Korea) FSO (Poland)
Daewoo (South Korea) FS Lublin (Poland)
Ford (U.S.) Mazda (Japan) Increases stake from 25% to 33%
1995 Fiat (Italy) FSM (Poland)
1994 Daewoo (S. Korea) Oltcit/Rodae (Romania)
1991 Volkswagen Skoda (Czech Rep.) 31% stake later increased
to
100%
124. 1990 GM Saab-Scandia (Sweden) 50% of equity acquired
Ford Jaguar
1987 Ford Aston Martin (U.K.)
Chrysler Lamborghini (Italy)
1986 Volkswagen Seat (Spain)
Source: Newspaper reports (various).
Outsourcing and the role of suppliers
Henry Ford’s system of mass production was supported by
intensive backward
integration. At Ford’s giant River Rouge plant, iron ore entered
at one end, Model
Ts emerged at the other. Ford even owned rubber plantations in
the Amazon basin.
Since 1980, the quest for lower costs and increased fl exibility
has resulted in massive
outsourcing of materials, components, and services. At the end
of the 1990s GM and Ford
both spun off their component businesses as separate
125. companies: Delphi and Visteon,
respectively. Relationships with suppliers also changed. The
Japanese model of close,
collaborative long-term relationships with their “fi rst-tier”
suppliers has displaced the U.S.
model of contract-based, arm’s-length relationships. The new
system has resulted in the
component companies gaining increased responsibility for
technological development—
especially for sophisticated subassemblies such as
transmissions, braking systems, and
electrical and electronic equipment. The component producers
have also grown in size
and global reach. Bosch, Denso, Johnson Controls and Delphi
are as big as some of the
larger automobile companies (see Table 5).
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The quest for cost reduction
Strong competition pressured companies to seek cost reduction
through several sources:
� Economies of scale were critically important in research,
component production,
and product development. According to Sergio Marchionne, the
CEO of Fiat and
Chrysler, effi ciency for a global auto producer required
producing at least fi ve
million cars a year: companies producing less would struggle to
survive.4
� Economies of scope. Many cost economies could be
exploited across diff erent
models. Investments in technology, dealerships, and marketing
could be applied
across all models—indeed, the use of common components and
platforms
meant that economies of scope were often converted into
129. economies of scale.
By 2012, all the leading auto makers had models ranges that
covered almost
every product segment from luxury cars to mini-cars—including
SUVs. However,
Ford had narrowed its product range by selling its Jaguar, Land
Rover, and Volvo
subsidiaries.
� Worldwide outsourcing. Outsourcing has grown from
individual components to
major subassemblies (such as engines and steering systems)—
even to complete
Table 5 Revenues and profi tability of the biggest automotive
component
suppliers
Revenues ($ billion) ROA (%) ROE (%)
1994 2000 2008 2010 2010 2010
Robert Bosch (Germany) 19.6 29.1 58.5 62.6 5.0 8.6
Denso Corp. (Japan) 11 18.2 40.3 36.6 4.6 5.2
131. Sources: Financial Times, Fortune.
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cars (including design and engineering). An important source of
cost savings from
outsourcing derives from component suppliers’ lower wages and
benefi ts compared
to the auto assemblers.
� Just-in-time scheduling, a key element of lean production,
permitting radical
reductions in inventories and work-in-progress.
133. � Off -shoring. Geographical shifts in production were partly
the result of automakers
seeking lower cost manufacturing locations; Toyota moved
production from Japan
to lower cost locations in Southeast Asia; Volkswagen from
Germany to central and
eastern Europe.
� Collaboration. Collaborative arrangements included joint-
venture plants,
technology alliances, component supply agreements and joint
marketing
agreements. In emerging market countries, most new auto plants
were joint
ventures between local and overseas companies. These
arrangements economized
on the costs of developing new technologies and new products,
and accessing
overseas markets. Ford’s network of alliances (see Figure 4) are
typical of linkages
among the automobile companies.
Figure 4 Ford’s alliances with other automakers
134. FORD
BMW
Supplies of parts to one
another. Ford Malaysia
assembles BMW cars.
Collaboration on
Hydrogen research
CHONGQING
CHANGAN
Joint venture to
assemble Ford v
Vehicles in China
CHRYSLER
Joint research into
Emissions and electric
vehicle technology
DAIMLER
Joint research
into fuel cells
135. FIAT
Iveco Ford Truck Ltd
is a UK truck making
Joint venture
FIRST AUTO WORKS
A joint venture with Volvo to
produce engines in China
GENERAL MOTORS
Joint venture to produce
transmissions
MARUTI
Joint venture to
produce components
in India
MAZDA
Equity stake cut to 13%.
Shared technology,
136. designs & components.
Several JVs.
PEUGEOT
Partnering in
diesel engines
TATA
Purchase of Jaguar
& Land Rover linked to
cooperation on
technology
and components
TOYOTA
Patent cross-licensing
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Despite constant cost-cutting, the major automakers were unable
to rival low cost
producers in China, India, and elsewhere. Tata Motors’ 2009
launch of its Nano model—
four-seater, 623cc city car, with fuel cosumption of 70 miles per
gallon and priced at
a mere $2200—was a major shock to the multinational
automakers. However, the
subsequent diffi culties that the Nano encountered in terms of
production, safety and
market acceptance point to the sheer complexity of the bringing
an innovative new
model to market and the challenges facing emerging market
automakers in rivaling the
experience and expertise of the established giants.5
Excess capacity
The greatest structural problem of the industry was excess
capacity. Ever since the early
140. 1980s, the growth of production capacity had outstripped the
growth in the demand
for cars. Import restrictions had exacerbated the problem.
During the 1980s and early
1990s, North American production capacity grew substantially
as a result of Japanese
companies building greenfi eld “transplants.” Further big
additions to world production
capacity resulted from the expansion of the Korean car industry
during 1992–7. Since
2000, the main additions to capacity were in Eastern Europe,
Asia and Latin America
where all the world’s leading automakers rushed to build new
plants to serve growing
demand. The biggest overhangs of excess capacity were in
North America and Europe
(see Table 6), but even in China, where demand grew by almost
50% annually between
2002 and 2011, growth of capacity outstripped growth in
demand. Looking ahead,
the prospects of reducing excess capacity were limited by, fi rst,
the resistance by
national governments to plant closures; second, continuing
investment in new plants
in emerging market countries—in China capacity utilization was
141. forecast to fall to 66%
by 2016.
Table 6 Automobile production capacity utilization
2008 2009 2010
North America 79% 44% 65%
South America 82% 62% 75%
Europe 84% 65% 68%
Japan and Korea 86% 72% 78%
South Asia 89% 83% 81%
Source: Various press and consulting fi rm reports.
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Internationalization
International expansion was driven primarily by the auto
makers’ desire to access
growing markets; to exploit scale economies in purchasing,
technology, and new product
development; and to seek low-cost manufacturing locations (see
Table 6). Although
Ford and General Motors began their international expansion
back in the 1920s, until
the 1970s the world auto industry was made up of separate
national markets where
each national market was dominated by indigenous producers.
The global strategies of
the Japanese automakers changed all that. After 1980, the main
strategic priority of all
the world’s major auto companies was to build aglobal presence
through acquisition,
144. alliance and joint venture. As a result of internationalization,
the dominance of national
champions was undermined (see Table 7).
Table 7 Hourly compensation for motor vehicle workers (U.S.$
per hour,
including benefi ts)
1975 1984 1994 2004 2006 2009*
Germany 7.9 11.9 34.7 44.0 45.9 46.5
U.S. 9.6 19.0 27.0 33.9 35.1 33.5
U.K. 4.1 7.4 16.0 29.4 30.0 30.8
France 5.1 8.2 18.8 26.3 29.4 40.1
Japan 3.6 7.9 25.9 27.4 27.8 30.4
Spain 3.7 5.3 15.4 21.5 24.2 27.7
Korea 0.5 1.7 7.8 15.8 19.0 14.2
Italy 5.2 8.0 16.3 21.7 18.6 35.0
145. Mexico 2.9 2.6 3.0 3.5 3.7 5.4
Note: The 2009 data relates to all manufacturing industry; the
data for earlier years refers to motor vehicle manufacture only.
Source: U.S. Department of Labor, Bureau of Labor Statistics.
Table 8 Automobile market shares in individual countries (%)
1988 2006 2010 1988 2006 2010
U.S.* U.K.
GM 36.3 23.5 19.1 Ford 26.3 18.5 15.8
Ford 21.7 16.7 16.5 GM (Vauxhall) 13.7 12.7 12.8
Chrysler 11.3 8.8 9.3 Peugeot 8.7 10.0 8.8
Toyota 6.9 13.9 15.3 VW/Audi 5.9 12.9 16.0
Honda 6.2 8.8 10.7 BMW (& Rover) 15.0 4.6 6.9
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FRANCE JAPAN
Renault 29.1 24.8 22.1 Toyota 43.9 40.4 34.4
Peugeot 34.2 28.2 32.4 Nissan 23.2 14.0 12.8
VW 9.2 11.6 11.0 Honda 10.8 12.2 14.2
Ford 7.1 6.0 5.1 Suzuki n.a. 12.1 11.4
ITALY KOREA
Fiat 59.9 28.5 30.1 Hyundai 55.9 50.0 37.6
VW/Audi 11.7 10.8 11.6 Kia 25.0 23.3 28.2
149. Ford 3.7 7.8 9.1 Daewoo 19.1 10.0 22.7
Peugeot n.a. 9.6 10.3 CHINA
Renault 7.1 6.4 Shanghai GM 10.4
GERMANY Shanghai VW 9.7
VW/Audi 28.3 27.8 35.1 FAW Volkswagen 8.9
GM (Opel) 16.1 9.7 8.9 Beijing Hyundai 6.1
Ford 10.1 8.0 6.8 Dongfeng PSA 6.0
Daimler 9.2 11.3 10.6 BYD 5.5
Chery 5.1
Notes:
* The market share data is for passenger cars only with the
exception of the U.S. which is for cars and light trucks.
n.a. = not available.
150. Sources: Japan Automobile Manufacturers Association; Korean
Automobile Manufacturers Association; A. K. Binder (Ed.),
Ward’s Automotive Yearbook, 2009, Wards Communications,
Southfi eld MI, 2009.
Outlook for the future
As he reviewed the forces likely to impact the world automobile
industry during the next
fi ve years, he found it diffi cult to assess their combined
impact of these forces on the
overall intensity of competition in the industry.
While Ford had forecasts for demand growth in all the major
markets of the world,
even if the more optimistic boundaries of these forecasts were
achieved, market growth
would not translate into adequate profi t margins if the chronic
overhang of excess
capacity remained. In the mature industrialized countries there
seemed little prospect
that either market growth or that plant closures would eliminate
the overhang of excess
capacity. Indeed, the growth in alternative transport modes—
151. included shared car
ownership—pointed to the possibility of decline in private
automobile use. In the newly
industrializing countries—especially Asia and Latin America
where Ford had pinned most
of its hopes—the indications were that capacity expansion
would outstrip sales growth.
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153. competition. Tata Motor’s
acquisitions of Jaguar and Land Rover, Geely’s of Volvo and
SAIC’s of the MG and Rover
brands provides these fi rms with international platforms from
which to compete.
The introduction of all-electric cars, while off ering the
prospects for new demand,
might also be an opportunity for newcomers to muscle-in on the
market domains of
the major auto makers. Despite the tiny market share of hybrid
and all-electric vehicles,
environmental concerns, environmental regulation, and
depleting oil reserves pointed
to their potential to increasingly displace conventional
automobiles. Despite heavy
investments by most of the leading car makers in both hybrid
and all-electric autos,
leaders in electrical vehicles included Magna International, the
Canadian auto parts
producer, Tesla, a Californian start-up producers of luxury
electrical cars, Smiths Electrical
vehicles in electrically-powered trucks, BYD Auto the leading
Chinese producer of hybrid
and electric cars, and Think Global the Norwegian producer of