Mcdonald’s and Starbucks Compairson : Establishing Their Brands to Fit Local Markets

How do you think McDonalds and Starbucks are able to establish their brands to fit local markets through architectural design of the stores, their e–commerce strategies and service to accommodate the local markets and culture? Explain their approaches individually and see if there are any differences or similarities. Do you think Starbucks benefitted from the missteps by McDonalds that you will read about in your research? Both these companies follow the business dictum â€Å"think globally but act locally† (Montgomery Research, 2008). Both make effort to establish their brands by experience differentiation. Both corporations focus their local and global marketing on identification of the emotional experience as part of the consumer connection with their products. Both use various marketing strategies to become synonymous in the consumers mind with a product category. For example: if a consumer wants fast food they think of products like a Big Mac (hamburger), a McRib (pork) or some McNuggets (chicken) so they think McDonald's and if a consumer wants a quality cup of coffee they think Starbucks (Montgomery Research, 2008). It's a trade brand category identifier but one company has a wider range than the other. Both company’s use similar techniques of blending standardized corporate and unique local design structures together for their stores. They also make specific accommodations in service strategies to make their companies benefit. Both of these types of actions show respect for the local areas and their native cultures. Linking these customer environments with their brand offers a psychological identification for the consumer. McDonald's has added new local specialty food items to fit the local market environment (Mininni, 2009). For example in France most burgers contain the much loved additional bacon, facilities are air-conditioned, have free Wi-Fi, and are open late. And in India, McDonald's removed beef to accommodate Hindus and in Morocco on certain holidays the menu includes â€Å"dates, milk, and Moroccan cookies†. In Morocco McDonald's employs female receptionists to seat customers. And in Arabia they offer a sandwich named McArabia. McDonald's has also been credited by local newspapers with raising the standards of bathroom cleanliness in Hong Kong. And Starbucks also seeks to blend with their local environment in many ways. Starbucks has altered menus to accommodate local tastes and some menu offerings include meat buns in Asia and mince pie in Britain but coffee has always been the primary focus. Starbucks worldwide decor scheme includes using their standardized nautical theme blended with local icons. Included in the Starbucks overseas strategy, they purchased retailers that already had local followings, for example: in 1998 they purchase the chain Seattle Coffee Company in the United Kingdom with 38 existing retail facilities serving the public (Blanchard, 2008). With this kind of acquisition Starbucks capitalizes on acquiring pre-existing customers. Starbucks did not take full advantage of McDonald's â€Å"missteps† as much as McDonald's has taken advantage of some of the mistakes Starbucks has made. Because McDonald's has a wider product category under name brands that is broader in product repertoire than Starbucks and they can add additional items for test marketing and if successful add them in permanently (Martin, 2008). Recently McDonald's added a successful line of premium coffees to their full menu directly competing against Starbucks. The ongoing strategy of offering more diverse quality food items comprising a complete meal associated in the public consciousness consistently gives McDonald's a larger appeal than Starbucks focus on their premium coffee or tea (Blanchard, 2008). In an attempt to keep sales up over time, Starbucks has tried altering stores environment, changing background music, offering discounted Wi-Fi, promoting discount club cards, and making variations in their basic menu and they even experimented with one dollar coffee but generally these methods have not stopped the drop in their sales over time (Winslow, 2008). Current E-commerce strategies of these two corporations vary greatly. Differences are obvious between the design styles and offered number of actual customized foreign websites. There is customization showing real differentiation for each specific country (114 different worldwide) McDonald's websites than for the one primary Starbucks website with links to thirty countries worldwide. All the McDonald's websites are more colorful, hip and show big pictures of the newest food products, a toll-free consumer hotline, offer free Wi-Fi, links for food nutritional values, careers and having local fun (Startz, 2009). In France McDonald's downplays U. S. roots and uses France's Asterix (a local cartoon character) for marketing on their French website and on TV instead of the traditional Ronald McDonald (Mininni, 2009). Starbucks uses a simplistic low key corporate website that offers standardized links to their history, charities, local events, buying their coffee and tea, discounted Wi-Fi time and the Starbucks coffee card. Starbucks has not set up separate foreign websites for each country where they have locations. They use a main page link to show thirty foreign locations of their stores worldwide. Starbucks website makes corporate announcements and one of the quotes known for causing bad public reaction was when spokesman Howard D. Schultz announced details of a â€Å"corporate turnaround plan† that included â€Å"discontinuing warm breakfast sandwiches† at its stores because â€Å"the scent of the warm sandwiches interferes with the coffee aroma in our stores† (Martin, 2008). I have noticed that when these corporations post on their websites or talk to the news media there are differences in their demeanor. Starbucks talks about removing sandwiches or dollar coffee from their product line or in having to close underperforming locations and McDonald's always seems to puts a more positive wording and spin on their company and all released information. References Blanchard, C. (2008). Starbucks’ Price Positioning Misstep. WordPress. com. Retrieved from http://thetransfer. wordpress. com/2008/01/31/starbucks-price-positioning-misstep/ Martin, A. (2008). Starbucks to Close Stores and End Sandwich Sales. NYTimes. com. Retrieved from http://www. nytimes. com/2008/01/31/business/31sbux. html? _r=3=business=slogin=slogin Mininni, T. (2009). McDonald’s: Taking the Snobbery Out? MpDailyFix. com. Retrieved from http://www. mpdailyfix. com/McDonalds-taking-the-snobbery-out/ Montgomery Research. (2008). Visibility Into The Ultimate Consumer Is Key To Customer Growth – McDonalds. CRMProject. com. Retrieved from http://www. crmproject. com/documents. asp? d_ID=2912 Startz, S. (209). McDonald's Free Wi-Fi Should Worry Starbucks. BrandCannel. com. Retrieved from http://www. brandchannel. com/home/post/2009/12/16/McDonalds-Free-Wi-Fi-Should-Worry-Starbucks. aspx Winslow, L. (2008). New Customer Loyalty Programs and Missteps – Starbucks Case Study. Ezinearticles. com. Retrieved from http://ezinearticles. com/? New-Customer-Loyalty-Programs-and-Missteps-Starbucks-Case-Study=3218771

Capital Market Essay

~ Capital market is the market for leading and borrowing of medium and long term funds. ~ The demand for long-term funds comes from industry, trade, agriculture and government (central and state). ~ The supply for funds comes from individual savers, corporate savings, banks, insurance companies, specialized financial institutions and government. *SIGNIFICANCE: ~ A sound and efficient capital market is extremely vital for the economic development of a nation. ~ So, the significance of capital market has increased. ~ The following points clearly bring out the role and significance of capital market in India. i)CAPITAL FORMATION: ~ Capital market encourages capital formation as it ensures speedy economic development. The process of capital formation includes collection of saving effective mobilisation of these savings for productive investment. ~ Thus three distinctive inter-related activities i.e. collection of savings, mobilisation of savings and investment lead to capital formation in the country. ~ The volume of capital formation depend s on the efficiency and intensity with which these activities are carried on. ii) ECONOMIC GROWTH: ~ Capital market plays a vital role in the growth and development of an economy by channelising funds in developmental and productive investments. ~ The financial intermediaries channel funds into those investments that are more important for economic development. iii) INDUSTRIAL DEVELOPMENT: ~ Capital market promotes industrial development and motivates industrial entrepreneurship. ~ It provides cheap, adequate and diversified funds for industrial purposes such as expansion, modernisation, technological upgradation, establishment of new units, etc. ~ It also provides services like provision of underwriting facilities, participation in equity capital, credit-rating, consultancy services, etc. vi) MODERNISATION AND REHABILITATION OF INDUSTRIES: ~ Capital markets also contribute towards modernisation and rehabilitation of industries. ~ Developmental financial institutions like IDBI, IFCI, ICICI, etc provide finance to industries to adopt modern techniques and new upgraded machinery. ~ They also participate in the equity capital of industries. v) RIVIVAL OF SICK UNITS: ~ Commercial and financial institutions provide adequate funds to viable sick unit to overcome their industrial sickness. ~ Bank and FIs may also write off a part of the loan or re-schedule the loan to offer payment flexibility to weak units. vi) TECHNICAL ASSISTANCE: ~ The financial intermediaries in the capital market stimulate industrial entrepreneurship by providing technical and advisory services like preparation of feasibility reports, identifying growth potential, and training entrepreneurs in project management. ~ This promotes industrial investment and leads to economic development. vii) DEVELOPMENT OF BACKWARD AREAS: ~ Capital markets provide funds for projects in backward area and facilitate their economic development. ~ Long-term funds are also provided for development projects in backward / rural areas. viii) EMPLOYMENT GENERATION: ~ Capital markets provide Direct Employment in capital market related activities like stock markets, banks and financial institutions. ~ Indirect Employment is provided in all the sectors of the economy through various funds disbursed for developmental projects. ix) FOREIGN CAPITAL: ~ Capital markets make it possible to generate foreign capital by enabling Indian firms to raise capital from overseas market through bonds and other securities. ~ Such foreign exchange funds have a great impact on the economic development of the nation. ~ Moreover, foreign direct investments (FDIs) also bring in foreign capital as well as foreign technology that leads to greater economic development. x) DEVELOPMENT OF STOCK MARKETS: ~ Capital markets lead to development of stock markets by encouraging investors to invest in shares and debentures and to trade in stocks. ~ FIIs are also allowed to deal in Indian stock exchange. xi) FINANCIAL INSTITUTIONS: ~ Financial institutions play a major role in capital markets. ~ They provide medium / long term loan to industrial and other sectors and also undertake project feasibility studies and surveys. ~ They refinance commercial banks and rediscount their bills of exchange. ~ They provide merchant banking services. ~ They subscribe to equity capital of the firms. xii) INVESTMENT OPPORTUNITY: ~ Capital markets provide various alternative sources of investment to the people. ~ People can invest in shares and debentures of public companies and earn good returns. xiii) INVESTMENT IN INDUSTRIAL SECURITIES: ~ Secondary market in securities encourage investors to invest in industrial securities by providing facilities for continuous, regular and ready buying and selling of these securities. ~ This facilitates industries to raise substantial funds from various sectors of the economy. xiv) RELIABLE GUIDE TO PERFORMANCE: ~ Capital market serves as a reliable guide to the performance of corporate institutions. ~ It values companies accurately and thus promotes efficiency. ~ This leads to efficient resource allocation and economic development. *CONCLUSION: ~ Thus we can say that capital markets play a crucial role in the economic development of a nation. ~ A sound and efficient capital market is one of the most instrumental factors in the development of a nation.

5.1. Critical Discussion of Findings in Relation to Literature and Theory Essay

5. 1. 1. Over Restrictive Regulatory Environment The respondents to the question of whether the environment of overly restrictive regulations was a challenge indicated almost without exception that indeed the restrictive aspect was stifling to at least some extent. This indicates that the regulatory environment currently being experienced in the Kuwaiti banks surveyed is in keeping with the general view of Islamic banks as reported in the literature reviewed. The banking environment created has proved to be unsound, and it accords with the ideas of Windy (2003) demonstrating that it has not been conducive to the effectiveness and efficiency of nine of the ten financial institutions surveyed. The current state of the Kuwaiti banking system, though improving, demonstrates that reporting and the monitoring of capital and risk have suffered due to the heavier restrictions placed on the Shariah compliant banks. See more: Old Age Problem essay Since the restrictions are greater for these banks in comparison with the conventional banks, the Islamic banks have indeed been placed at a disadvantage within the market and this has caused them to be less efficient and therefore less attractive to prospective customers. This lack of attractiveness makes it even more likely that these banks will remain niche focused and relatively small in comparison with the competition. 5. 1. 2. Uniform Regulatory and Legal Framework The respondents to the survey indicated unanimously that the lack of a uniform regulatory and legal framework poses a challenge to the current Islamic financial state. The response to this question might seem enigmatic in light of the previous one. However, though the Shariah imposes restrictions on the types of transactions that might be performed in Islamic financial institutions, it is the regulation of these restrictions that have proven to be without uniformity. This lack of uniformity has been shown to have crippling effects on the Kuwaiti institutions surveyed. The fact is that once regulations become uniform, this serves as a support mechanism to the institutions that follow the regulations (Dudley, 1998). The problem with this lack of regulation is that Islamic institutions have been trying to conduct business according to Shariah, yet this has to be done within the conventional Western financial framework which does not lend the proper type of support to Shariah banking policies. This has been especially problematic in Kuwait since so many of its banks are Islamic and yet the uniform regulations that govern are often at odds with the Shariah principles by which these banks are run. There apparently still continues to be problems despite the 2005/06 regulation attempts by the Central Bank of Kuwait, and it makes it clear that the mere addition of a separate Shariah section to the regulatory laws is insufficient. What is needed, apparently, is full and complete integration of the Shariah into the regulatory system at every pertinent level so that financial institutions will know how to act in a wide array of situations. 5. 1. 3. Underdeveloped Regulatory and Supervisory Regime. Akin to the aforementioned problem, and perhaps stemming directly from it, is the fact that all respondents agree that the supervisory system of regulations is underdeveloped in their financial institutions. When no systematic regulatory doctrines have been formulated, the difficulty arises because supervisory activity has no clear knowledge of what to supervise or guard against. Because of the underdeveloped nature of the supervisory elements, Islamic financial institutions in Kuwait continue to fumble as it regards the attainment of success and customer satisfaction. Customers in these institutions cannot be secure in receiving fair treatment from institutions that have no active and systematic supervision. The respondents did not consider the current state of regulation supervision to be completely inadequate, as their responses hint toward the acknowledgement that the IFSB’s efforts at establishing co-operation among standard-setting bodies have had some favourable impact on the Kuwaiti situation. However, capital adequacy and risk management represent only two of the many areas in which supervision is necessary to the health of Kuwait’s Islamic financial institutions. The responses also indicate that the IFSB’s intentions of extending supervisory cooperation to the areas market transparency and discipline as well as corporate governance are warranted. 5. 1. 4. Capital and Liquidity Requirements The requirements of capital and liquidity within the financial market sector have been theorized as having the potential to be damaging to the Islamic financial institutions around the world. However, the reasons given for this potentially problematic effect reflect a division among theoreticians and those employed within the financial sector. This existence of controversy is confirmed within this research of the Kuwaiti institutions, as three respondents considered liquidity and capital issues to be of medium to high importance, while the others considered the issue to be of very little importance. One side of the controversy identifies the issue of capital and liquidity as stemming from the Basel Committee’s over-estimation of the risks that might accrue to (or as a result of) the assets of Islamic institutions. These theorists indicate that they believe the risks are not as great as others might believe, and it is with this view that those respondents agree—who indicated that liquidity and capital were not an issue. The alternate theoretical view, with which the survey shows three respondents agreeing, is that Islamic financial institutions present more risk than other banks do. The fact that these banks are generally smaller and carry a narrower capital base seems to reflect a large part of what these respondents refer to when they consider liquidity and capital to be a risk in such institutions. The respondents do not, however, indicate any aversion to the establishment of a capital market that would trade in Sukuk and other instruments, and even deepen the market so that additional liquidity might be created. 5. 1. 5. Accounting Standards Harmonization According to the responses given, the issue regarding the standardization and harmonisation of accounting practices ranks highly on the list of things that need to be dealt with within the Islamic financial institutions of Kuwait. The importance of this harmonization has made itself clear within the institutions being studied, as the lack thereof has contributed to the existence of a shallow capital market that lacks fairness, efficiency, and transparency (IOSCO, 2004). The credibility granted Islamic financial institutions as a result of recent work by AAOIFI has improved operations enough to emphasise the importance of accounting harmonisation. As it now stands, the harmonisation initiative has improved the ability for Kuwaiti financial institutions to communicate with other non-Islamic banks as accounting standards have been expressed in harmony to a greater degree. This appears to have also accorded the banking system a reasonable amount of credibility in the estimation of other institutions and accorded to Islamic bank workers a higher level of respect among their peers. Yet more needs to be done, as has been indicated by the interviewees’ responses. Continued efforts to broaden the scope of harmonisation promise to improve the status of Kuwaiti banks within a financial situation in which the majority of institutions do work according to international accounting standards. 5. 1. 6. Standardization of Shariah The respondents were universally agreed that the proper standardization of Shariah was necessary not only to the proper understanding of the Islamic banking principles, but ultimately to the proper governing of all financial institutions in Kuwait. The survey highlights the confusion that currently exists within the market and the formation of a common platform, as suggested by Kahf, does have the potential to improve the existing problem. The standardization of the Shariah would have the added benefit of making it easier for non-Islamic bankers to understand the provisions and requirements of the Shariah as it regards banking. The facilitation of Halal transactions might then be put into effect between such banks and Islamic institutions in Kuwait. Such standards will help non-Islamic members of the banking community understand such ideas as the necessity that an underlying asset exist as the subject of any financing contract, so that institutions will be better prepared to provide more than just a debt paper when conducting Shariah transactions . Therefore, any transaction that resembles Riba, Maisir or any other action prohibited by Shariah may be avoided. Halal practices might be set up even within non-Islamic banking institutions, and this may facilitate increased competition and better practice all round. 5. 1. 7. Competition from Conventional Institutions Competition is itself considered by theoreticians to be a problem for Islamic financial institution as these businesses are usually small and possess a smaller capital base than their competitor institutions. The respondents themselves have also indicated that competition is an important consideration for the Islamic banks of Kuwait. However, the degree of importance to which these respondents have admitted have varied across the spectrum from low to high. The Islamic institutions of Kuwait appear also to have gained a vast amount of capital (via Sukuk and other methods) by appealing on religious grounds and the establishment of a capital market through those means (Iqbal, Ahmad and Khan, 1998). This would indicate why some respondents consider the threat of competition to be low, especially since the Islamic institutions have a religious claim to customer loyalty that competitor institutions may not possess. However, the importance of competition between Islamic institutions appears not to be overlooked by those respondents who considered the threat of competition to be high. Still, though competition may be high, the actual threat it poses may still be low as competition has the advantage of presenting a barrier to the entry of further banking institutions. Furthermore, the existence of non-Islamic financial institutions within the Islamic sector may have been considered favourable by those persons who responded that the threat is low. This may be because the presence of these institutions validates the viability of the Islamic banking sector (Al Omar & Abdel-Haq, 1996). 5. 1. 8. Availability of Data The issue of data availability rates highly within the Kuwaiti Islamic financial sector according to the respondents. These interviewees appear to understand and have had problems arising from the difficulty with which data and statistics are obtained regarding the Islamic capital markets (IOSCO, 2004). The necessity of scientific research and the indispensability of such statistical market data are also addressed in this response by the interviewees; such research has rarely been undertaken by Islamic banks. The unavailability of data is a major reason for this lack of valuable research, and it appears that respondents realize that this has prevented Kuwaiti banks from reaching their fullest potential. The current information possessed for banks on a broad Islamic scale is lacking, inadequate and subject to qualifications. This appears also to be the case for the banks in question represented by the respondents. 5. 2 Micro Level Changes 5. 2. 1. Liquidity Management All respondents considered liquidity management to be of high importance, and this is in direct contrast to the controversial nature of the issue regarding liquidity and capital requirements. This is in keeping with the literature and theory prevailing within the Islamic banking community, which identifies this to be of major importance, especially in light of Islamic banks’ bid for global expansion. In Kuwait too this proves to be of interest to the Islamic bankers, and the many challenges which face the market are likely to be the reason respondents invariably indicated it to be of high concern. Certainly ideas abound regarding how to manage the liquidity within the Islamic market. Methods as have already been identified such as the shuffling (unbundling and repackaging) of assets in order to make them more marketable and liquefiable (Iqbal, 1997). These methods, along with the identification of potentials for inter-bank market development (El Qorchi, 2005), are ones that would doubtless prove valuable within the Islamic financial market represented by these respondents. The depth of the market would be increased in such a situation, and this would prove to be beneficial in the Kuwaiti market that is expanding both within the country and on a global scale. However, these measures would depend on further developments that may present difficulties materializing, and the gravity of this is also reflected in the response to the questionnaire. Such developments would include the installation of a facility that provides a lender of last resort. It would also involve securitization for the purposes of managing the spectrum of risk as well as maturity issues (El Qorchi, 2005). 5. 2. 2. Maturity Mismatch The maturity mismatch issue appears to have contributed to a division among the respondents regarding their responses. While some considered this problem to be of high importance, these opinions were balanced by those who considered the issue to be of medium or low importance. Those respondents who identify maturity mismatch as a low-ranking problem gain assurance from the possibility of using Tawarroq (debt rollover) as a method of financing maturities. The fact that the Kuwaiti Islamic banks they represent have the ability to finance the debt of the ultimate creditor using customer money allows these respondents to feel secure (Al-Suwailem, 2006). However, those who consider maturity mismatch to be a high-ranking issue do so likely because, as has been indicated in the literature, questions do exist concerning the extent to which debt-rollover can be used to finance or match maturity. Other problems, too, lie in the fact that in order for these policies to perform freely, other things previously mentioned would have to be put into place—such as accounting harmonization (for the smooth running of the capital market). Since these systems are not fully up and running in the Kuwaiti market, then this might explain the apprehension that some of the respondents have concerning the maturity matching issue (IOSCO, 2004). 5. 2. 3. Personnel Competence, Qualifications and Training The issue surrounding personnel competence and training in the area of Islamic and Shariah institutional banking has been determined to be of high importance by all but one of the respondents—who still considered it to be quite relevant within the Kuwaiti situation. In order to continue its expansion within the local and global markets, the banking system within Kuwait needs to facilitate the training of its personnel in all areas—including the areas concerned with Shariah banking (Iqbal, Ahmad & Khan, 1998). This necessity has been reflected in the responses, as incompetence has no doubt been the issue within the banks they represent—judging from the fact that most consider it to be of high priority. The problem arises because (among other things) customers are generally more accustomed to the conventional style of banking. Where, as in Kuwait, the majority of banks are westernized and traditional, it becomes absolutely imperative that the personnel be thoroughly familiar not just with the practices pertaining to Islamic banking but also with the Shariah doctrines that govern them. Without this knowledge, it is likely that employees do not possess the expertise necessary to explain to customers the meanings and Islamic implications of certain banking or investment practices. The respondents to the questionnaire, being banking personnel themselves, have first-hand knowledge of the problems that may arise when personnel are untrained or unqualified. Their response also points toward the need for more scholars who specialize in both finance and Shariah, as well as the need for focussed development of courses in Shariah designed specifically for the economist (IOSCO, 2004). 5. 2. 4. Financial Products and Innovation Innovation and the development of financial products appear to rank highly in the estimation of Kuwaiti bankers and investors, as is indicated by the responses to the questionnaire regarding this issue. The idea behind this wide-spread adoption of the innovative process by these Kuwaiti respondents stems from the theory that the viability of these Islamic institutions as an alternative to conventional banking rests on the ability of the bankers to provide a wide variety of new methods of investment for potential investors. The respondents, being high-level investment personnel working in Kuwait, are at least aware of the plethora of ways that Islamic and Shariah banking methods differ from the conventional methods of banking. These differences offer a variety of ways in which innovation might be brought to bear upon the Kuwaiti financial market and be made to attract newer investors. Such ideas as Mudarabah and Musharakah are likely to draw prospective investors previously deterred by the prospect of bearing the entire losses of their ventures. Furthermore, such persons as the respondents represent are in touch with the needs that customers have, and this knowledge allows them to realise the necessity of developing financial products that cater to these needs (Al-Suweilem, 2006; Bacha, 1999). As a result, supply will work toward creating an equilibrium with the demand that exists. Concerns may arise from the fact that these persons are also aware of the need for an in-depth understanding of the array financial instruments in order to put into effect many of the innovations necessary within Kuwait’s Islamic financial institutions (1999). 5. 2. 5. Products and Services’ Marketing The imperative nature of the marketing of products and services is reflected to some extent within the responses to the questionnaire. Though most consider this to be of importance, one person did offer a dissenting voice. Those who did agree were also divided as to the extent to which product marketing is necessary. It is likely that the dissenting person places the innovative development of products in a more prominent place, arguing that until products are developed no marketing will be necessary. This is certainly true. However, the fact that so many of the respondents acknowledge the necessity of marketing makes it clear that they understand one of the major issues facing Islamic financial institutions: customers are largely unaware of the services that are offered and the ways that these services could be of benefit to them. Clearly this is as much the case in Kuwait as anywhere else since so many respondents in the affirmative concerning the issue. 5. 2. 6. Size of Institutions Institution size is an issue on which most respondents again agreed. These Kuwaiti investment professionals appear also to face challenges which are similar to those faced by all banks—that of garnering a sufficiently wide investment base in order to ensure security and to maximize their competitive strength within the market. Since the questionnaire specifically asked whether size posed a challenge, the answers indicate that even in Kuwait, smaller banks tend to suffer from a higher level of risk on the financial market. What is also probable is that these smaller banks are represented mainly by the Islamic and Shariah compliant banks within the country. The earlier replies concerning the need for marketing and innovation therefore apply to this question of size, as development of strategies along these lines would enable growth and deepening of the institution as well as the market. It is likely, therefore, that (regarding the question of the challenging nature of institution size) the concurring responses demonstrate the need for expansion of Kuwaiti Islamic financial institutions. 5. 2. 7. Institution Rating and Instruments Theory, literature, and this survey concur on the question of the importance of institution rating. Though the matter is brought up as a subject of relevance within the Islamic banking community, it has not been treated as a major issue. This is seen especially in the fact that it remains a question whether or not such ratings should be made obligatory for financial institutions. The respondents to this question gauged the importance of ratings to be of low or medium range, indicating that in the Kuwaiti Islamic banking system, though ratings are also relevant, it is not the question of utmost importance to anyone concerned. The importance of ratings has however been established by the respondents within the Kuwaiti market. Despite the fact that they consider it of low importance, they do indicate that it is considered a pertinent issue. One reason for this would be that the IIRA does exist as a body to assess (among other things) the Shariah compliance of Kuwaiti financial institutions. This may have a bearing on the consumer loyalty that might be considered important to the continued operation or wellbeing of many of these institutions, especially in light of the fact that many Kuwaitis choose Islamic banks (over the competition) precisely for reasons having to do with Shariah compliance. 5. 2. 8. Inadequate Sensitivity to Customer Satisfaction While almost all respondents identified inadequate sensitivity to customer satisfaction as a challenge, of some concern is the fact that only a few Kuwaiti banking personnel identified it as a highly important one. It is evident that Kuwaiti bankers understand the situation of competition that exists within that nation’s financial market, especially since in Kuwait only three of its 15 banks are Islamic. It becomes imperative that consumers are satisfied within such a market where (with 76 other investment companies) alternative banking institutions about. What the Kuwaitis may be counting on is the fact that consumers who use Islamic financial institutions already have their primary needs met in a bank that is Shariah compliant. Still, as represented earlier, Kuwaiti’s banking personnel recognize the need for creating innovative banking products that cater to the desires of the consumer. They also recognise that in order to cater to these needs, sensitivity to customer satisfaction is indispensable. 5. 2. 9. Inability to Communicate Uniqueness The challenge faced in identifying the unique attributes of Islamic financial institutions is admitted by the majority of banking professionals surveyed. However, the importance of this issue seems to be only minimally appreciated in Kuwait—according to the data collected. This idea goes back to the question of marketing, and in which it was also evident that Kuwait felt no major compulsion toward pushing the Islamic banking product to consumers. Concerns about the future of Kuwaiti Islamic banking might here be expressed as it has been shown through the theory and literature reviewed that the ability of these institutions to become strong, viable, and known alternatives to traditional banking depends on its differentiation within the market (Khan & Ahmed, 2001). 5. 3. Critical Engagement with Areas of Convergence 5. 3. 1. Convergence on Shariah Compliance Issues In some very critical areas, it was found that the responses made by these Kuwaiti financial professionals strongly support the theories found in the literature. The strength of this support points in many cases toward not only the importance of the question but also the extent to which changes are necessary within the Kuwaiti finance environment. The unanimity with which the respondents answered the question of uniform regulation challenges leaves no doubt that the lack or inadequacy of regulation dealing specifically with Shariah compliance has a crippling effect on the Kuwaiti banking system. Since the Shariah’s restrictions and requirements may often be intricate, the lack of uniformity within the Kuwaiti market (as has been predicted by literature) has led to problems. Such problems have the potential of ranging from simply an inability to properly execute in the Shariah-compliant areas of banking, or the inability to detect and prevent the inappropriate actions of institutions that claim Shariah compliance. What the Kuwaiti banks have demonstrated is a convergence between theory and practice in that without a proper regulation system, the Shariah support mechanism for the institutions has also proven to be substandard (Dudley, 1998). Islamic institutions in Kuwait, while trying to conduct Shariah compliant business, have the added problem of working within the sometimes contradictory framework of conventional Western banking. Furthermore, the problem proves more crippling in the Kuwaiti finance environment as the Islamic banks are many, yet are lost in a world of regulations that prove more hospitable to the competition. The fact that problems still exist despite the 2005/06 attempts at regulation by the Kuwait’s central bank (CBK) only points to the magnitude of the problem as represented by Shariah regulation and the necessity of uniformity within these regulations/. It also demonstrates the inadequacy of simply tacking on a Shariah amendment to existing law. What this research has shown to be truly necessary is a thorough review of current regulations that culminates in the full integration of Shariah. This will facilitate the continued running of Islamic (as well as conventional) banking institutions within the financial environment. 5. 3. 2. Convergence on Competence and Training in Shariah The importance of personnel competence and training in Shariah banking is also an area that demonstrates convergence of practice in Kuwait with the theory. It highlights the immense need for scholarship and training in both Shariah and banking (IOSCO, 2004; Iqbal, Ahmad & Khan, 1998). The lack of thorough understanding of the key Shariah concepts (as introduced earlier on in this research) is shown to be a deterrent to optimal practice in the Kuwaiti financial environment. Since consumers are more used to conventional banking, this makes it all the more necessary for banking personnel to be fully equipped with knowledge and expertise in Shariah financial management so that all consumer queries might be dealt with thoroughly and professionally. 5. 4. Critical Engagement with Areas of Divergence 5. 4. 1. Divergence on Marketing and Innovation Issues Despite the concurrence of the responses with the theories presented in the literature, there were also some areas where responses disagreed with theory or amongst themselves. The areas represented are product/service marketing, inadequate sensitivity to customer satisfaction, and inability to communicate uniqueness. As regards the imperative nature of product and service marketing, the disagreement was occasioned in the area of the extent to which product and service marketing is necessary within the Kuwaiti Islamic banking environment. The connection that this question of product marketing has with innovation is undeniable, and it is likely that disagreement stems from the fact that persons place a higher priority on innovation. Products must be created before they can be marketed after all. However, it appears to be problematic that even some institutions within the Kuwaiti Islamic banking sector do not place importance upon marketing, as this strategy is precisely the method through which customers become aware of the services that any bank has to offer. Those who consider marketing to be of high importance understand that customer ignorance can have a damaging effect on the viability of a financial institution. Lack of knowledge prompts potential consumers to ignore the services available, and business that might otherwise be gained is lost. Marketing allows customers to become aware of these services, and it is consumer centred as it promotes the benefits that might accrue to the customer as a result of using that service. 5. 4. 2. Divergence on the Question of Sensitivity to Customer Satisfaction The other area of divergence deals with inadequate sensitivity to customer satisfaction. While the theory explored highlights this as an important area, it was surprising to note that some of the respondents considered the challenge to be of high importance. Evidently, the Kuwaiti banking personnel do comprehend the gravity of the competition that exists between Shariah and non-Shariah financial institutions. The fact that non-Shariah banks are set up so that losses to the institution are minimized at the expense of the customer leaves such banks in a relatively more secure position. The necessity of being sensitive to the satisfaction of clients becomes that more important, as the relationship with the customer is possibly the area that offers an Islamic bank the greatest amount of competitive advantage. In order that consumers who may not be completely loyal to Shariah be induced to work with the institution (or to continue as a customer), the satisfaction of these persons (on whom the institution rests) must be ascertained and guaranteed. Marketing plays a big role in this, but before marketing can take place banking professionals must become aware of the areas that would most satisfy these consumers. It must also be aware of areas in which satisfaction is not being granted (whether within Islamic banks or the alternative banking system) and changes made promptly to improve these conditions. 5. 4. 3. Divergence on the Issue of Communicating Uniqueness By far, the divergence of opinions between theory and practice as it regards the inability to communicate uniqueness is most surprising. The reason for this is that it is precisely the uniqueness of the Islamic bank that defines the necessity for all other areas of this research. Its compliance with Shariah principles is what sets it apart from the competition, and it is this that also contributes to the difficulties as well as the advantages of the Islamic bank. Though challenges of identifying the Islamic banks’ uniqueness is acknowledged by the majority of banking professionals surveyed, the minimal appreciation of its importance within Kuwait is of great concern for aforementioned reasons. The idea of uniqueness also reverts to the question of marketing. Though it does make sense that institutions that disregard marketing somewhat would also disregard the importance of product differentiation, this lack of interest on the part of so many managers gives cause for alarm. It gives cause for the expression of concerns about the future of Islamic financial institutions in Kuwait if no effort is made at demonstrating how their services differ from the traditional services of the competition (Khan & Ahmed, 2001). 5. 5. Reflection on personal learning As a student who is relatively new at empirical research, I found the experience of collecting and ordering data very intriguing. It was very interesting to find that the research carried out during the literature review demonstrated that though different researchers had essentially been studying the same phenomenon in different countries, the ideas extracted were able to come together to form a cohesive body of knowledge. This became even more evident when the empirical data collected within this research began finding support in the literature and theoretical concepts identified within the literature review. As it regards Islamic and Kuwaiti banking, I learned that the Shariah system of banking in many ways embodied ideas that exist for the improvement of the financial condition of the country which it serves. It caters to the needs of the institution, yet appears to be much more client centred than traditional banking. It also seems to favour the growth of the economy in its determination that financial transactions be done expressly in conjunction with the creation of real and tangible wealth. Finance is therefore not divorced from real work and real investment or enterprise. I also learned that Islamic banking does face many challenges, however.

Developing a Professional Philosophy Essay Example | Topics and Well Written Essays - 3500 words

Developing a Professional Philosophy - Essay Example From the discussion it is clear that most of the philosophers who were for the attachment theory thought that one’s security was a major factor in the relationships, the more secure one is, the more attached they become. The easiest way to know how much one is attached to someone is to know how you feel when you are away from them. It gives a clear indication about your feelings towards them. These were the discoveries of an early psychologist called Mary Ainsworth. She also came up with a technique that could be used to view the differences between attachments in children. The procedure was about exposing children to strange situations and then observes their behavior.This paper stresses that  the choice of models that people tend to admire differs. This depends on what values the person already has. The model is someone they consider attractive and powerful by their own standards. This means that the social-cognitive theory relies on information that had been priory attain ed. The values that the learner had got prior to the learning experience determine the type of model that they will choose to follow. Most people opt to choose models who they think are similar to them in most aspects. This makes it easier for them to try to imitate their behavior.  The main strength in skinners theories is that they rely on scientific tested and proven facts and not from speculations or word of mouth.

An analysis of COCACOLAs current strategic position, and how COCACOLA Essay

An analysis of COCACOLAs current strategic position, and how COCACOLA will develop these strategies in the future.THIS is an individually written report - Essay Example Coca Cola has around 16 million clients all over the world. The management concentrates more on enhancing the values for their clientele and aiding their beverages business to grow. Moreover the management is working hard to understand their cliental needs whether the customer is classy retailer in industrial market or a risk owner in rising markets. The basic key or strategy is that they place right product in right market at right time. This indicates that geographically company's market is vast & the management has huge control on its market. As carbonated drinks are the highly productive segment so the company emphasis more in its production and promotion as it brings larger portion of their revenue from overall sales The Coca Cola Company currently has different brands in the market worlds wide. The company not only a big manufactures of carbonated drinks but also manufacture juices, water and other drinks. The key for launching any new brand in the market is the culture of the country. Strategic Planning is the tool which a management used to considerate it future course of action. In any business strategic planning is the tool of giving the right directions to the management .the management emphasis on how to apply different strategies in order to expand the business, which policies suits best in all the areas of the business and what are the potentials and how to use them. FORMULATION AND IMPLEMENTATION OF STRATEGIES BY COCA COLA: The

The problem of corruption in Liberia Essay Example | Topics and Well Written Essays - 1250 words

The problem of corruption in Liberia - Essay Example At the beginning of 2002, UNHCR assisted the refugees who voluntarily wanted to repatriate to Sierra Leone, and by the end of September, close to 13,000 refugees had been repatriated. UNHCR intends to continue its work in close cooperation with the Liberia Refugee Repatriation and Resettlement Commission (LRRRC), which is the government institution responsible for constructing and implementing programmes for the displaced in Liberia (UNHCR, 2002c; Kamara, 1999b). Many of the studies on the topic of resettlement and repatriation emphasise the security conditions and the importance of guaranteeing protection for the refugees. This seems to be a major concern not only throughout the conflict but also in the postwar period. In late 1992 there were reports of security problems, especially in the northern Lofa County, and as a result UNHCR and NGOs were unable to reach the Sierra Leonean refugees in that area. Moreover, although UNHCR has had a voluntary repatriation plan in place since July 1991, the ongoing fighting has prevented Liberian refugees from returning (Jesuit Refugee Service, 1993:7). According to UNHCR, the security situation improved somewhat in 1993. However, the implementation of the Cotonou agreement, which was argued to be a condition for the return of the refugees, was behind schedule (UNHCR, 1993). Furthermore, in early 1994, UNHCR was asking donors for funds regarding the voluntary repatriation of some 700,000 Liberian refuge es residing in neighbouring countries at that time (Jesuit Refugee Service, 1994). Abdi and Tinstman discuss voluntary repatriation to Liberia, and they too argue that the security situation in Liberia is precarious and that there is a need to ensure that the refugees are protected (Abdi and Tinstman, 1995). Paul Stromberg reports that, in late 1997, the UNHCR shifted its policy of facilitating repatriation to a more active policy of promoting repatriation, but progress has been slow. The problems have been several, for instance, the cross border insurgencies, together with the lack of interest from the international donors which have resulted in lack in funding (Stromberg, 1998). In a paper by Tom Kamara, several aspects concerning returnees and repatriation are discussed. Kamara argues that security issues, as well as the economic environment, make the conditions for repatriation and reintegration difficult (Kamara, 1999b). Along the same lines, Philippa Atkinson has conducted a study of the political and socio-economic conditions facing the Liberian refugees as they returned from neighbouring countries to Liberia. She analyses a number of different factors, including shelter, food aid, income distribution, and employment (Atkinson, 1992). In a more recent study on economic opportunities for those returning home, Rein Dekker studies a group of Ghanaians who moved to Liberia, but due to the war returned to resettle in their home country. The government of Ghana and international agencies were focusing on the Liberian refugees while Ghanaian refugees were left to fend for themselves. However, loan schemes were offered by an NGO, and it is this scheme which Dek ker evaluates in her study. Dekker examines the factors that determined whether the refugees were successful in making use of this economic opportunity and able to repay their loans (Dekker, 1995). Jeff Crisp reports on

Ford and the World Automobile Industry in 2009 Essay

Ford and the World Automobile Industry in 2009 - Essay Example Overview of the Company Ford Motor Company founded in 1903 by Henry Ford, an automotive and industrial pioneer remains today as one of the oldest firms within the industry. The automotive firm in Dearborn, Michigan and has so far grown into other nations. Ford established itself as a major player in the automotive industry in 1908 commanding close to 50% of the market share after sales of 15 million vehicles of Model T (Grant, 2010, p. 46). In 1950, Ford became a public company making it to grow significantly. Ford’s main products include cars, trucks, and SUVs with different types of brands such as Jaguar, Volvo, Ford, Mercury, Lincoln, Aston-Martin, and Land Rover amongst others. Ford also has finance division, parts and service department, and they own Hertz Corporation, being the largest car rental firm in the world. In 2003, Ford was second after a pre-tax profit of about $ 1.3 billion despite a $ 1.1 billion loss in North America. Nevertheless, the company experienced si gnificant losses between 2000 and 2008 attributed to rising costs of commodities, ongoing and rising healthcare expenses, lagging behind of sales of vehicles, and bailing out of major parts supplier from bankruptcy such as Visteon. Ford recorded huge losses in the fiscal years 2000 to 2008 as shown in fig. 1. The following is a Porter’s Five Forces analysis explaining this trend. Figure 1: Table showing return on Equity of various Automotive Firms Courtesy of Grant (2010) Porter’s Five Forces Analysis Various models used in industry and firm analysis to develop the right managerial strategy. Strategic management is a complex due to dynamism and turbulence in business environment. Nonetheless, through Porter’s five forces model, organizations are able to identify areas requiring overhauling for effective and efficient performance (Blake, Cucuzza, Rishi, 2003, p. 11). Like many other firms, Ford’s strategic management can be enhanced through a deeper insigh t into five forces that has been reducing their competitive advantage from 2006 to date hence recording such huge losses. Porter described competitive advantage as significantly influenced by five forces; bargaining power of buyers, bargaining power of suppliers, intensity of competition rivalry, threats of new entrants, and threats of substitutes. These same forces led to Ford’s current economical situation (Windecker, 2004). In each of the below forces, a conclusion regarding rating in a scale of 1 to 5, 1 being very weak and 5 very strong is provided. The full scale is as follows; Bargaining Power of Buyers There is high intensity of competition coupled with increasing demand for automotive products in major markets. Hence, consumers have a variety of firms to choose from unlike during the classical time when there were limited manufacturers. United States of America and European Union consumers have a high bargaining power necessitated by availability of information regar ding various products (Grant, 2010, p. 49). The buyers in automotive industry are powerful due to unavailability of grand proliferation of companies that manufacture automotives. In addition, the largest automotive manufacturers within US have approximately 90% value shipped hence additional value to the product. Another important feature of automotive industry in US is the fair standardization of parts used in assembling of products (Waraniak,

Recent developments in the UK housing market Essay

Recent developments in the UK housing market - Essay Example In general house prices must behave in a similar manner as that of inflation rates prevailing in an economy. However, if we consider the recent boom in housing prices in the UK since the year 1998, it can be observed that the housing prices behaved in an opposite direction to that of the general inflation rate of the UK’s economy. It implies that there has been a significant rise in the overall house prices of UK since 1998 but the general inflation was on the lower side and did not rise that significantly as compared to the house prices. Next, if we look at the relation between the house prices and income of the households in the UK it can be observed that the house prices increased at a greater rate than the income of the households during the period of the recent housing boom. If we look at the current affordability of the houses in the UK it can conclude that the house properties are less affordable because of the high house price to income ratio at present. It implies that the UK households do not have enough income to be able to buy houses which are of high prices. Moreover, the house prices are directly linked to the changes in income levels of households because most of the houses are bought through mortgage services offered by financial institutions. Hence it is very unlikely to get loans to buy houses with lower income levels. This is how the house properties became less affordable for people who were having a comparatively lesser rise in income levels as compared to the rise in house prices in the UK. ... implies that there has been a significant rise in the overall house prices of UK since 1998 but the general inflation was on the lower side and did not rise that significantly as compared to the house prices. It means that although the house prices rose significantly the prices of other goods and services did not rise that much. Next if we look at the relation between the house prices and income of the households in UK it can be observed that the house prices increased at a greater rate than the income of the households during the period of recent housing boom. If we look at the current affordability of the houses in UK it can concluded that the house properties are less affordable because of the high house price to income ratio at present. It implies that the UK households do not have enough income to be able to buy houses which are of high prices. Moreover the house prices are directly linked with the changes in income levels of households because most of the houses are bought thro ugh mortgage services offered by financial institutions. Hence it is very unlikely to get loans to buy houses with lower income levels. This is how the house properties became less affordable for people who were having comparatively lesser rise in income levels as compared to the rise in house prices in UK. Answer 3 There has been a significant rise in the demand of houses in UK during the period of 1998 to 2007. There are various factors which led to this increase in housing demand like increase in disposable income, lower interest rates, and increased availability of mortgage finance. The wages have increased at a faster rate than inflation from 1998 to 2007. Now since the households have the tendency to spend a certain proportion of their income levels on housing, the demand for housing

To Spy or Not to Spy Case Study Example | Topics and Well Written Essays - 500 words

To Spy or Not to Spy - Case Study Example ny is as productive as possible, the incoming CEO intends to implement changes which will require employees to be more productive and managers to be more innovative. The current market situation as identified in the case shows increasing competition and laxity of employees as well as stagnated management which does not recognize the benefits of changes within the contemporary business model. The facts of the case as relating to the key decision makers identified above revolve around the incoming CEO, Schwartz, whose intention to transform the company proposes a series of changes among them an openly refutable suggestion to spy on employees. At the boardroom speech as he was addressing the management, Schwartz makes it know that he was for the idea that right technology was capable of making everything possible. Top management such as Photo, Thuy, and Ali Khan did not seem to agree with the idea that the incoming CEO was trying to impose his philosophy on the the company and forcing everyone else to buy into it. On a rather unfortunate turn of events, Miller, the HR Director seized the opportunity of being the pioneer of presenting and innovation that could enhance the employee output at the company; an idea that Schwartz coined to involve spying of employee’s internet and email activity. In his idea, Miller proposed a data collection program that could be used to monitor productivity but Schwartz idea was highly resisted as it was depriving employees of privacy (Unit 3 Case Study. pp. 1-14) The symptoms occurring on the case represent a number of factors that do not fit within the expectations of every character. Areas of conflict in the case involve the very personal nature of Schwartz and his history with implementing changes. With this fact overly anticipated, most of the managers already have negative opinion about his intentions. Technology as a means to improve performance and productivity is an acceptable factor with a downside every manager disagrees

Jellyfish Essay Example | Topics and Well Written Essays - 1000 words

Jellyfish - Essay Example Jellyfish have no head, spine, heart, eyes, or brain. Instead of having a brain, the creature has a nervous system also referred as the nerve net that consists of receptors that detect the odor, light, and other responses. Additionally, Jellyfish has sensory organs known as Rhopalia that helps in maintaining balance. They have a primitive sense that consists of the neural net and eye spots commonly used to sense dark and light. Jellyfishes’ body is comprised of three layers. The outer layer referred as epidermis, the inner layer known as the gastrodermis, and the middle layer referred as the mesoglea. The epidermis is the most important layer that covers the external body of this creature. The epidermis protects the skin from the invasion of harmful substances in the body. The gastrodermis protects the inner layer of the jellyfish. Typically, Jellyfish has a simple digestive cavity referred as the coelenterons that are used as the stomach and excretory organ. The coelenterons operate like a gullet, intestines, and stomach through the mouth. On average, the length of jellyfish tentacle is two to ten meters and the length can grow tremendously. A study conducted by King (22), indicates that the longest jellyfish to have lived was 120 feet. Jellyfish are carnivores and they tend to increase rapidly when the food is plentiful. These creatures feed on small crustaceans and zooplankton just to name a few. Jellyfish are nonaggressive, free-swimming, and surrounded by tentacles with poisoning and stinging cells. The tentacles contain sacs filled with poison that can be life-threatening. With its severity in mind, researchers have provided facts and information on how to treat this sting. To remove the sting, one should use tweezers, thick clothing, gloves, or sticks (Lindeen 33). According to this research, one should not touch the sting with bare skin since the sting is poisonous and can severely affect the skin. One should throw away the item used for removing the sting to avoid stinging yourself later. To fully deactivate the poisonous sting, one should pour vinegar on the stung for

Strategic management Essay Example | Topics and Well Written Essays - 2250 words

Strategic management - Essay Example A major makeover happened for the company in 1990 when it joined hands with BMW of Germany for manufacturing of aero engines. â€Å"Today it is the world's second largest civil aero engine company, the world's second largest defence aero engine company, a global leader in marine propulsion and a leading supplier of energy solutions. All of these businesses have gas turbine technology at their heart.† (Rolls Royce, 2011) Aero engine manufacturing is one of the largest engineering industrial sectors in the world. Some of the leading aero engine manufacturers in the world are Rolls-Royce Engines, BMW, Bristol Engine Company, CFM International, Pratt & Whitney, Daimler Benz, GE Aviation, Hispano-Suiza, Napier and Son, Volvo Aero, etc. Among these, Rolls Royce is one of the leading market players. Rolls-Royce Engines holds nearly one third of the business aircraft engine market. Some of the main customers of Rolls-Royce include Airbus, Bombardier, Embraer and Raytheon. Quality, Rel iability and Tradition has been the main driving force behind the success of Rolls Royce Aero Engines. The key success factors of aero engine manufacturing industry are very critical. ... Research and Development is the next success factor. R&D is the factor that drives every other success factors. Better technology is developed only through innovation. Technological innovation is possible only through better investment of time and resources into R & D. Innovative product offerings are the next success factor of the industry. Merely supplying engines is not the game plan currently. Some of the innovative plans of the industry are Corporate Care, power-by-the-hour, pay-as-you-fly program, etc. (George, 2011) Similarly, better after sales service and customer relationship management are another key success factors. The aviation industry segment can be classified mainly into two categories that are wide body engine market and narrow body engine market. As of now Rolls-Royce has considerable market share in the wide body engine market with the second position in the segment. But Rolls-Royce still needs to develop its presence in the narrow body market. Currently, Rolls-Ro yce participates in the narrow body segment in a joint venture with Pratt & Whitney and others. â€Å"Rolls-Royce is well positioned in the wide body market, but about to lose 25% of the narrow body market in which it has a 40% joint venture share by 2015.† (GLG Expert Contributor, 2010) Analysis of External Factors Like any other industry, external factors have great influence on the prospects of aero engine manufacturing industry. Some of the key external factors influencing the aero engine manufacturing industry are as follows. 1. Raw material cost 2. Competition 3. Bargaining power of customers 4. Environmental impact 5. Regulatory Pressures 6. Currency risk 7. Other external events Raw material

Language Arts Essay Example for Free

Language Arts Essay This topic will provide students with an interactive method of learning numeracy, literacy, inquiry and responsibility within the environment in which we live (Rice Wilson, 1999). It gives ample leeway for creating lessons within the subject areas of Science, Mathematics, Language Arts, and Social Studies. Such a unit will make students aware of the place and role of trees in the environment. It will also enhance their knowledge of the structure and function of trees as living things. Students will also understand how humans depend on trees in the environment and also how the activities of humans have adversely affected the environment in the past. Finally, it will make students aware of how their individual actions toward trees can improve the state of the environment. Overall Expectations: 1. Students will learn how trees grow. 2. Students will learn the uses that humans have for trees. 3. Students will explore what humans and trees have in common. 4. Students will learn size and texture comparisons from parts of trees. 5. Students will learn how to count using tree limbs, leaves, and other tree parts. 6. Students will learn numeracy and estimation by exploring how many more limbs are possessed by one tree over another. 7. Students will learn vocabulary and how to construct sentences about trees. 8. Students will learn about forests and how they have been harmed by humans in the past Specific Expectations Integrated Science Students will be expected to make connections between trees and the things in their lives made from trees. They will be expected to be able to tell the facts about trees. Such prompts will be given to allow them to name such characteristics as size, colour, and the different parts of a tree that they are familiar with. Student will also be expected to learn observation and note-taking skills as part of the scientific process. Mathematics Students should be able to demonstrate their knowledge of counting objects and of the fact that one number represents on object via counting branches, leaves, and other parts of trees. They are also expected to be able to perform arithmetic operations of adding and subtracting using tree icons as computational tools. Students are also expected to learn (or reinforce knowledge of) descriptors such as larger, longer, bigger, taller, thinner, and other comparisons. Language Arts Students are expected to learn vocabulary connected with trees and to recognize them as sight words. They are expected to make connections between trees, their parts, animals and humans, and should be able to construct simple sentences that explain facts about them. Students should also be able to recognize and properly use comparative adjectives such as tall and taller, thin and thinner, long and longer, etc. Specific Expectations Students will be expected to be able to understand the interactions of humans and animals with trees. They should be able to name such things that they have seen in trees, such as birds nests and squirrels. They will then be expected to understand whether trees are alive or dead and required to say why they have answered in a specific way.

The Importance Of Communication English Language Essay

The Importance Of Communication English Language Essay Within this essay I will explore the methods and importance of communication when working as a childhood practitioner. Communication is commonly defined as the imparting or interchange of thoughts, opinions, or information by speech, writing, or signs This is a process by which meaning is assigned and conveyed in an attempt to create a shared understanding. This process involves a huge repertoire of intrapersonal and interpersonal skills including listening, speaking, questioning, observing, analysing, and evaluating.   The importance of communication within a team is perfectly demonstrated in this analogy by Wideman (2000): Communication is like engine oil: it needs to be applied to the machinery or the machinery will not start or, if it does, it will quickly falter and grind to a halt. And the oil, like communication, needs to be continuously recycled and regularly replaced with new oil as the old becomes no longer usable. But what of the quality of the oil? Too little or too thi n and it is not effective; too thick or too much and everything just gets gummed up. (Wideman, 2000). Effective communication is crucial for a team to be successful. The team needs to communicate regularly with one another because through communication cooperation and collaboration occur. Collaboration with one another is necessary in the workplace because it helps to solve problems, help maintain standards of practice and create a good rapport with all involved. Ebbeck and Waniganayake (2003, p.195) state shared decision making is one secret of successful management. In order for this to be achieved communication is essential and necessary in the workplace. Great communication skills are an absolute must it is A vital part of any centres functioning is the communication that occurs among staff (Ebbeck and Waniganayake,2003: p.197). A lack of teamwork and communication can lead to a stressful working environment and a poor quality service. In a recent presentation of mine I demonstrated through a communication exercise the importance of communication and how communication is not just verbal in nature. The exercise required all team members to communicate clearly in the communication method appropriate. The team had limitations that prevented them from communicating in the easiest form this forced them to develop a way of overcoming these barriers, communicating in a different fashion whilst also working as a team. They had two attempts to complete the task assigned to them. The first attempt went very badly as they found it very difficult to communicate with the barriers in place. However after a small group discussion they were able to devise a way to accomplish the task.   This simple exercise is a useful one to employ during a staff meeting and it teaches the value of communication and the need for effective and clear communication in order to work as a team. Communication can be viewed as an active process that is in turn influenced by the complexities and ambiguities of human behaviour. It is riddled with the potential of breakdown. Clampitt sates that We actively construct meanings within a unique vortex that includes the words used, the context of the utterances, and the people involved (2005, p.8). It is a process where elements such as any non-verbal actions, individuals own interpretation and own ascribed meaning can have an influence. Communications strategies to construct a clear and unambiguous message can encourage effective and direct communication. There are certain barriers both physical and psychological that can hinder communication as Clampitt states and it is important to be aware of these. Anything that prevents a message being understood is seen as a barrier. These are some barriers that can occur when communicating: Culture, background, and bias Our culture, background, and bias can allow us to change the meaning of a message, which can interfere with the communication process. Noise Noise impedes communication as it can both distract the sender and receiver so that concentration is hard and also muffle and distort the message being sent. Perception If we feel the person is hard to understand for instance talking to rapidly, not fluently or is not articulate enough the receiver can dismiss that person. Preconceived attitudes can also affect our ability to listen. Ourselves There is a tendency to focus on ourselves rather the person communicating which can cause conflict and confusion. Some of these factors that affect communication are ego and the feeling of superiority. Message Distractions can happen when someone doesnt look at the idea presented and chooses to focus on facts. Semantic distractions are when a word is used in a different manor than you prefer. Environmental these can include a range of stimulus that can provide potential distraction. Stress People view things differently when under stress. A message can be influenced by psychological frame of mind and our beliefs, knowledge, experience and values. Communication is vital within the childcare profession; in order for good communication it is necessary to understand the different components. Communication consists of the following methods; verbal, non-verbal communication, and written.   Verbal communication is a communication method using word of mouth. For instance   holding a conversation with someone requires the development of skills and social coordination which means having the ability to start and end conversations, the ability to show an interest and being able to interest the person you are having a conversation with. Argyle (1988) devised the Sender and Reciever Model which encodes the oral messages by the sender and decodes the messages then by the reciever. Sender  Ã‚  Ã‚  Ã‚ ®Ã‚  Ã‚  Ã‚   Encodes  Ã‚  Ã‚  Ã‚    ®Ã‚  Ã‚  Ã‚  Ã‚  Message  Ã‚  Ã‚  Ã‚  Ã‚ ®Ã‚  Decodes  Ã‚  Ã‚  Ã‚  Ã‚ ®Ã‚  Ã‚     Reciever Verbal communication is used to greet people, problem solve and provide support. It can also helps with everyday tasks such as, explaining issues and procedures exchanging ideas or learning ideas. It is necessary for childcare prationers to have highly attuned social skills, as they are dealing with people every day and oral communication is central in being able to bond and to have relationships with people. Thompson 1986 argued that commuinication is imperative for two major reasons these where as follows; one to enable people to share information and two enabling people to have relationships with people. Thompson stated that   relationship is the communcation. There are certain barriers that occur using verbal communication within the Childrens services such as semantic barriers, dialect, and language and tempo message. Other barriers include message complexity and message overload, which is when a person receives too many messages at the same time. Written communication is another useful communication channel and is very important between different professionals. Writting information down makes records more pernament and more accurate. Written informnation is unlike a verbal message which can become distorted when being verbally passed to people There are barriers in written communications such as the illegibility of peoples hand writing or if the written message is misunderstood.. The rules governing writing are also different compared to oral communication as it is necessary in written communication to maintain accuracy and darity. When writing information there is a need to check that all of the information is correct as if the information is recorded wrong it could result in problems. As problems can occur such as; delays in meeting the needs of the children and parents; not being able to make the right decision due to the vagueness of information recorded; being unable to deliver an organised service. An example of written communication documents is staff rotas showing times of work and holiday.   Lastly Non verbal communication is everything other than spoken words, this includes paralanguage this is um or ah sounds, the volume of the talking, the pace and accent. A very big part of non-verbal communication is facial expressions as these are indictors to others about our feelings, attitudes, states of mind and relationships.  Non-verbal communication can also include eye contact, proximity, posture and gestures. All three ways of communication have problems but are an effective way to communicate with others when used in the right way. Communication is about active listening as well as communicating with the necessary sincerity and compassion. Listening is a key skill and should not be underestimated.   One of the purposes of listening is to convey interest and respect for the other person and this is crucial to solve problems that arise and to also meet another persons needs as well as our own. Studies have revealed that listening is the on the whole the most frequent aspect of workplace communication (Adler and Elmhorst, 1999). Other studies have also found that Managers spend on average 65-90% of their working day listening to someone, with the percentage of time increasing with level of managerial responsibility (Kotter, 1982, Nichols Stevens, 1990). However research highlights that people generally people achieve no more than 25-50% accuracy in interpreting the meaning of each others remarks (Spitzberg, 1994). This means misunderstanding is very common. Furthermore tuning listening skills and becoming compe tent at listening would improve workplace communication significantly. There are barriers that hinder the ability to listen. For one People are very quick to jump to conclusions and form a judgement before the speaker has finished, this in turn can mean that the message intended is misinterpreted. People also have a tendency to hear what they want to hear and be inattentive while cultural issues or the interruption of the speaker can also prevent people from listening. Developing active listening skills such as listening to non-verbal as well as verbal language, paraphrasing, using feedback, and asking appropriate questions can help to identify possible misinterpretations of the message, as well as check for unintended messages. Good communication is absolutely essential and key when working with children, young people, families and carers. It is central in building trust amongst the users and staff within this context. In order to maintain relationships it needs to be an active process that involves listening, understanding and responding accordingly. Communication is both necessary on the one-on-one basis and also when working in a group and it is important to realise when to focus on the individual and when to focus on groups. Another thing to be aware of is  that communication is a two way process that is necessary to make sure the person feels valued and respected. Communication should also be matched appropriately to the stage of development, personal circumstances, and needs of the person being addressed. The culture and context when communicating needs to be thought about for instance, the professional should hold awareness and communicate appropriately if English is an additional language, the chi ld is disabled or at risk of under-achievement or other poor outcomes.   Effective communication is also about utilising the best communication method appropriately and being aware of any barriers that could occur these could include poverty, disability, anxiety, cultural differences and religious requirements. It is the managers duty to make sure communication within the team is effective. There are many ways a manager can help and improve a teams communication. The first is to keep all the communication channels open. Management should be always there to listen and actively participate with the team. A strong relationship with  management is important for communication and in turn the productivity of the team. The second is to offer some form of staff training in clear communication. Miscommunication is all too common in the working world and training in correct communication can easily help avoid miscommunication. Teaching employees to communicate in a clear and precise manor and listen carefully to the speaker can rectify this. Classes in other forms of communication can also be of help. Lastly it is good to invite feedback from staff and hold regular meetings both of which can provide a solid avenue for communication. All people are different and are better at different methods of co mmunication so providing as many avenues as possible is a good way to ensure communication is easy for others. Team meetings are a fantastic way to give everyone a chance to participate and have their say. It allows people to facilitate and contribute to decisions involving the workplace making them feel respected and that their feedback counts.   Communication is a highly complex process and to improve interpersonal communication, a fuller knowledge and understanding of communication skills are essential. Communication is not just about speaking it is about active listening, written and non-verbal ways of communication. Any team who wants to be successful needs to communicate in a direct and clear manor. Management should ensure that communication skills are practiced and that it is an ongoing process. Communication allows a team to work together effectively. Communication is an important skill especially when working as a childcare practitioner as without communication a childs needs cannot be met. COMMUNICATION EXERCISE   Have two people lead the group  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Leaders need to try and physically arrange all of the players in sequential age order (youngest to oldest)  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Each leader has specific limitations restricting the ease in which they can do this. Leader One cannot see and has the following limitations:  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   can only ask yes or no questions  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   cannot touch anyone Leader Two can see and can touch people but has the following limitations:  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   cannot speak All other players in the group can only answer yes or no to any questions and cannot move unless moved by Leader Two.   Communication Rationale The rationale for this particular communication exercise was to teach each person the importance of clear and direct communication and its importance when working as a team. Effective communication includes a range of skills which include things like body language, clear speech, eye contact and active listening. Communication activities like the one I used for my presentation allow participants to focus on these skills and understand their impact on the effectiveness of communication. The task also illustrated the importance of working as a team to overcome limitations and complete the task set. The team players had to try and understand one another using different communication strategies in order to complete the exercise successfully and within the time cap. Furthermore this task forced players to perform with limitations such as not being able to speak or not being able to use hands etc. During this game, the demand for   effective communication from each player was essential. Similarly the understanding of each teammates role on the team, as well as their own, was vital to the teams success. Players needed to understand their roles and accomplish their tasks in their roles, without trying to do everything. This communication exercise was designed to help the participants become more aware of the importance of communication in all forms whether verbal or non-verbal. They also had to uses direct and precise communication so not to confuse other team members. They also had to have an awareness and acceptance of the varied roles within a team. Awareness comes with visual and verbal communication by the individual participant and their teammates. Research Types of Communication Based on Communication Channels The process of communication can be broadly classified as verbal communication and non-verbal communication. Verbal communication includes written and oral communication whereas the non-verbal communication includes body language, facial expressions and visuals diagrams or pictures used for communication.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Verbal Communication Verbal communication is further divided into written and oral communication. The oral communication refers to the spoken words in the communication process. Oral communication can either be face-to-face communication or a conversation over the phone or on the voice chat over the Internet. Spoken conversations or dialogs are influenced by voice modulation, pitch, volume and even the speed and clarity of speaking. The other type of verbal communication is written communication. Written communication can be either via snail mail, or email. The effectiveness of written communication depends on the style of writing, vocabulary used, grammar, clarity and precision of language.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Nonverbal Communication Non-verbal communication includes the overall body language of the person who is speaking, which will include the body posture, the hand gestures, and overall body movements. The facial expressions also play a major role while communication since the expressions on a persons face say a lot about his/her mood. On the other hand gestures like a handshake, a smile or a hug can independently convey emotions. Non verbal communication can also be in the form of pictorial representations, signboards, or even photographs, sketches and paintings. phrase from some British propaganda during WWII neatly sums up the dangers of ineffective communications: Careless talk costs lives. That may be over-dramatic in most cases where communications between seafarers or between ship and shore go awry but it does illustrate the importance of effective communications and the real dangers if they go badly wrong. Evaluation This task has allowed me to understand the importance of communication within a workforce and how a team relies on communication to function. The presentation went well, I was able to get across the necessity of teamwork and the different methods of communication. The team all had limitations which meant not only did everyone have to communicate but they had to find different ways of communicating successfully. The problem was with the presentation is it lacked time; ten minutes seemed far too short. I had to limit the presentation to literally just the task and a few words prior to explain the task and why communication was important. If I had more time I would have conducted a slightly different task. The team also wasnt able to complete the task first time so I had to allow them to try again a second which was time consuming and meant I had to cut short the presentation and not summarise it as well as I would of liked to .   The negatives to the task I did conduct were that a few people did not understand the instructions I gave them at first so I had to also explain the task again fully. If I was to re do the presentation I would simplify the task. I think all in all the presentation showed the class the value of communication whether verbal or non-verbal and how teamwork is essential in any difficult situation. It was essential for them to utilise all avenues of communication to pass the task.

Artificial Intelligence Essay

Artificial Intelligence Essay This paper is the introduction to Artificial intelligence (AI). Artificial intelligence is exhibited by artificial entity, a system is generally assumed to be a computer. AI systems are now in routine use in economics, medicine, engineering and the military, as well as being built into many common home computer software applications, traditional strategy games like computer chess and other video games. We tried to explain the brief ideas of AI and its application to various fields. It cleared the concept of computational and conventional categories. It includes various advanced systems such as Neural Network, Fuzzy Systems and Evolutionary computation. AI is used in typical problems such as Pattern recognition, Natural language processing and more. This system is working throughout the world as an artificial brain. Intelligence involves mechanisms, and AI research has discovered how to make computers carry out some of them and not others. If doing a task requires only mechanisms that are well understood today, computer programs can give very impressive performances on these tasks. Such programs should be considered somewhat intelligent. It is related to the similar task of using computers to understand human intelligence. We can learn something about how to make machines solve problems by observing other people or just by observing our own methods. On the other hand, most work in AI involves studying the problems the world presents to intelligence rather than studying people or animals. AI researchers are free to use methods that are not observed in people or that involve much more computing than people can do. We discussed conditions for considering a machine to be intelligent. We argued that if the machine could successfully pretend to be human to a knowledgeable observer then you certainly should consider it intelligent. INTRODUCTION :- Artificial intelligence (AI) :- Artificial intelligence (AI) is defined as intelligence exhibited by an artificial entity. Such a system is generally assumed to be a computer. Although AI has a strong science fiction connotation, it forms a vital branch of computer science, dealing with intelligent behaviour, learning and adaptation in machines. Research in AI is concerned with producing machines to automate tasks requiring intelligent behavior. Examples include control, planning and scheduling, the ability to answer diagnostic and consumer questions, handwriting, speech, and facial recognition. As such, it has become a scientific discipline, focused on providing solutions to real life problems. AI systems are now in routine use in economics, medicine, engineering and the military, as well as being built into many common home computer software applications, traditional strategy games like computer chess and other video games. History :- The intellectual roots of AI, and the concept of intelligent machines, may be found in Greek mythology. Intelligent artifacts appear in literature since then, with real mechanical devices actually demonstrating behaviour with some degree of intelligence. After modern computers became available following World War-II, it has become possible to create programs that perform difficult intellectual tasks. 1950 1960:- The first working AI programs were written in 1951 to run on the Ferranti Mark I machine of the University of Manchester (UK): a draughts-playing program written by Christopher Strachey and a chess-playing program written by Dietrich Prinz. 1960 1970 :- During the 1960s and 1970s Marvin Minsky and Seymour Papert publish Perceptrons, demonstrating limits of simple neural nets and Alain Colmerauer developed the Prolog computer language. Ted Shortliffe demonstrated the power of rule-based systems for knowledge representation and inference in medical diagnosis and therapy in what is sometimes called the first expert system. Hans Moravec developed the first computer-controlled vehicle to autonomously negotiate cluttered obstacle courses. 1980s ONWARDS :- In the 1980s, neural networks became widely used with the back propagation algorithm, first described by Paul John Werbos in 1974. The 1990s marked major achievements in many areas of AI and demonstrations of various applications. Most notably Deep Blue, a chess-playing computer, beat Garry Kasparov in a famous six-game match in 1997. Categories of AI :- AI divides roughly into two schools of thought: Conventional AI. Computational Intelligence (CI). Conventional AI :- Conventional AI mostly involves methods now classified as machine learning, characterized by formalism and statistical analysis. This is also known as symbolic AI, logical AI, neat AI and Good Old Fashioned Artificial Intelligence (GOFAI). Methods include: Expert systems: apply reasoning capabilities to reach a conclusion. An expert system can process large amounts of known information and provide conclusions based on them. Case based reasoning Bayesian networks Behavior based AI: a modular method of building AI systems by hand. Computational Intelligence (CI) :- Computational Intelligence involves iterative development or learning (e.g. parameter tuning e.g. in connectionist systems). Learning is based on empirical data and is associated with non-symbolic AI, scruffy AI and soft computing. Methods include: Neural networks: systems with very strong pattern recognition capabilities. Fuzzy systems: techniques for reasoning under uncertainty, has been widely used in modern industrial and consumer product control systems. Evolutionary computation: applies biologically inspired concepts such as populations, mutation and survival of the fittest to generate increasingly better solutions to the problem. These methods most notably divide into evolutionary algorithms (e.g. genetic algorithms) and swarm intelligence (e.g. ant algorithms). Typical problems to which AI methods are applied :- Pattern recognition Optical character recognition Handwriting recognition Speech recognition Face recognition Natural language processing, Translation and Chatter bots Non-linear control and Robotics Computer vision, Virtual reality and Image processing Game theory and Strategic planning Other fields in which AI methods are implemented :- Automation. Cybernetics. Hybrid intelligent system. Intelligent agent. Intelligent control. Automated reasoning. Data mining. Behavior-based robotics. Cognitive robotics. Developmental robotics. Evolutionary robotics. Chatbot. Knowledge Representation. American Association for Artificial Intelligence (AAAI) :- Founded in 1979, the American Association for Artificial Intelligence (AAAI) is a nonprofit scientific society devoted to advancing the scientific understanding of the mechanisms underlying thought and intelligent behaviour and their embodiment in machines. AAAI also aims to increase public understanding of artificial intelligence, improve the teaching and training of AI practitioners, and provide guidance for research planners and funders concerning the importance and potential of current AI developments and future directions. APPLICATIONS OF AI :- Game Playing :- You can buy machines that can play master level chess for a few hundred dollars. There is some AI in them, but they play well against people mainly through brute force computationlooking at hundreds of thousands of positions. Speech Recognition :- In the 1990s, computer speech recognition reached a practical level for limited purposes. Thus United Airlines has replaced its keyboard tree for flight information by a system using speech recognition of flight numbers and city names. It is quite convenient. On the other hand, while it is possible to instruct some computers using speech, most users have gone back to the keyboard and the mouse as still more convenient. Understanding Natural Language :- Just getting a sequence of words into a computer is not enough. Parsing sentences is not enough either. The computer has to be provided with an understanding of the domain the text is about, and this is presently possible only for very limited domains. Computer Vision :- The world is composed of three-dimensional objects, but the inputs to the human eye and computers TV cameras are two dimensional. Some useful programs can work solely in two dimensions, but full computer vision requires partial three-dimensional information that is not just a set of two-dimensional views. At present there are only limited ways of representing three-dimensional information directly, and they are not as good as what humans evidently use. Expert Systems :- A knowledge engineer interviews experts in a certain domain and tries to embody their knowledge in a computer program for carrying out some task. How well this works depends on whether the intellectual mechanisms required for the task are within the present state of AI. One of the first expert systems was MYCIN in 1974, which diagnosed bacterial infections of the blood and suggested treatments. It did better than medical students or practicing doctors, provided its limitations were observed. Heuristic Classification :- One of the most feasible kinds of expert system given the present knowledge of AI is to put some information in one of a fixed set of categories using several sources of information. An example is advising whether to accept a proposed credit card purchase. Information is available about the owner of the credit card, his record of payment and also about the item he is buying and about the establishment from which he is buying it (e.g., about whether there have been previous credit card frauds at this establishment). Conclusion :- We conclude that if the machine could successfully pretend to be human to a knowledgeable observer then you certainly should consider it intelligent. AI systems are now in routine use in various field such as economics, medicine, engineering and the military, as well as being built into many common home computer software applications, traditional strategy games etc. AI is an exciting and rewarding discipline. AI is branch of computer science that is concerned with the automation of intelligent behavior. The revised definition of AI is AI is the study of mechanisms underlying intelligent behavior through the construction and evaluation of artifacts that attempt to enact those mechanisms. So it is concluded that it work as an artificial human brain which have an unbelievable artificial thinking power. Programs with Common Sense :- John McCarthy, In Mechanization of Thought Processes, Proceedings of the Symposium of the National Physics Laboratory, 1959. Artificial Intelligence, Logic and Formalizing Common Sense :- Richmond Thomason, editor, Philosophical Logic and Artificial Intelligence. Klà ¼ver Academic, 1989. Concepts of Logical AI :- Tom Mitchell. Machine Learning. McGraw-Hill, 1997. Logic and artificial intelligence :- Richmond Thomason. In Edward  N. Zalta, editor, The Stanford Encyclopedia of Philosophy. Fall 2003. http://plato.stanford.edu/archives/fall2003/entries/logic-ai/. LINKS :- http://www.aaai.org/ http://www-formal.stanford.edu/ http://insight.zdnet.co.uk/hardware/emergingtech/ http://www.genetic-programming.com/