Evolution: Fact or Fiction? :: Exploratory Essays Research Papers

Development: Fact or Fiction? Probably the best inquiry ever is: The place the hell did we originate from? One of the most mainstream answers to this inquiry is creationism, the possibility that everything was made by a higher being. Another thought is advancement, the possibility that every single living being plunged from a less mind boggling living being. Best in class in the only remaining century, advancement has another perspective that is by and large extraordinarily acknowledged by mainstream researchers. Notwithstanding this reality numerous individuals contend that advancement has no realities to help it and there are a few reasons why development can't occur. Development is the progressive change in a life forms genetic supply after some time, essentially advancement is portrayed in any adjustment in the hereditary cosmetics of a living being. The most effortless approach to show this is by expressing instances of low level advancement as it has been watched. The best know instance of this sort occurred in England during the modern advancement. There were two assortments of the English Peppered moth before the upheaval, a light and a dull hued moth. The dull moth was practically nonexistent, as it was simple for predators to get on the light shaded trees. As the mechanical upheaval advanced, the measure of contamination noticeable all around turned the trees a residue shading, and thus the light moths were simple for predators to spot. The light shaded peppered moth everything except ceased to exist, and was very nearly elimination while the dull hued moth was flourishing. Over the most recent quite a few years the contamination in Englan d has dropped and white moth is making a return, and the dull moth is going back towards blankness. (Harter) Â The moth model is considered by numerous individuals to show development, yet individuals against the possibility of advancement state it isn't. The main thing that it indicated was that nature utilizes regular determination to get rid of the more vulnerable of the stocks. The moth case is an away from of normal choice not advancement in light of the fact that no adjustment in the genetic supply of the moth occurred. Saying that the peppered moth model doesn't show development is outrageous. Normal choice is probably the best instrument of advancement, as expressed by Charles Darwin in his book, Origin of Species. It might be said that characteristic choice is day by day and hourly examining, all through the world, each variety, even the smallest; dismissing what is awful, saving and including all that is acceptable composed Charles Darwin in section 4:Natural Selection.

Bay of Pigs

The enthusiasm of the United States in Cuba goes as far back as the pre-Civil War period when it needed to attach Cuba as a slave state for its cotton. Notwithstanding, it was distinctly in 1898 that Cuba was won from Spain following the Spanish-American war. While this kept going just until 1902, the U. S. had the option to arrange a drawn out rent on the island at the Guantanamo Bay and transformed it into a maritime base. From that time until Castro assumed control, the second most remarkable authority in Cuba after the President was the U. S. Minister (Lafeber, 19 April 1986, p. 537).In 1947, open threats with socialism have started. President Truman prescribed to the U. S. Congress to stop the Russian animosity in Europe. This was contained in the Truman Doctrine (Ismael, 1965, P. 3212). This was trailed by a U. S. - drove food transport toward the western division which the Russians were starving out with its Berlin barricade. At that point, there was the help given to the soci alists, incidentally, in the end won and the dynamic support in the Korean War of 1950. While such activities were disliked,, there was an evident accord that the U.S. ought to undoubtedly show that it isn't past utilizing power to stop the expansionist plans of the socialists. In 1953, Dwight D. Eisenhower was chosen President. The counter socialist feeling was especially overflowing around then with Senator McCarthy charging for all intents and purposes everybody of being a socialist, and prevailing with regards to spreading apprehension and strife all through the nation. In Asia, China was giving indications of animosity against Taiwan which at that point prompted the US promise of help to any Southeast Asian Treaty Organization part who needs to ward off socialist advances.In Latin America, socialist impact was similarly spreading. In 1959, on January first, Fidel Castro and his guerillas figured out how to oust Fulgencio Batista and the previous Prime Minister and recently chos e President Dr. Andres Rivero Aguero (Telzrow, 2006). The United States was one of the primary nations to recognize Castro’s domination through an official note pronouncing â€Å"the genuine altruism of the administration of the United States towards the new government† (Welch, 1982, p. 29). Presently, Philip Bonsal was named as the enhanced US Ambassador to Havana.Bonsal was the previous minister to Bolivia where the Spanish-talking profession negotiator had the option to build up a decent connection with the liberal organization. After four months, in April 1959, Fidel Castro visited the United States where then Vice President Richard Nixon got the opportunity to meet him. Nixon singularly broadcasted him to be a socialist. Castro’s ensuing changes were sufficiently radical to adjust Cuba to socialist gathering and slam into the Eisenhower Administration. There was the suspension of free races, socialization of personal business and the seizure of U. S. proper ty.This was trailed by the nationalization of organizations which created staple items, for example, milk and milk and results, sugar, brew, toiletries, materials and even banks (Blight and Kornbluh, 1999, p. 161). Given these interior improvements in Cuba, the U. S. Branch of State had begun to draw up a concurrence with the Central Intelligence Agency (CIA) that would impact the defeat of Castro by utilizing the Cuban group contradicted to him to make it resemble an inside demonstration. The circumstance was additionally disturbing and an affront because of the fact that socialism was essentially flourishing next door.In December 1959, a layout of activities both in incognito and publicity structure for the oust of Castro was drawn up by the CIA head of Western Hemisphere, J. C. Lord. An increasingly complete arrangement was drawn up by Jacob Esterline, previous head of the Guatemala station. On March 17, President Eisenhower affirmed a paper wrote by the CIA entitled â€Å"A Pro gram of Covert Action Against the Castro Regime† and the arrangement to cut down Castro was in progress. Individuals were set up. David Atlee Phillips was made purposeful publicity chief.He was to run Radio Swan, the station that would communicate promulgation against the Castro government. E. Howard Hunt was made head of political activity with the primary assignment of sorting out and setting up the individuals from the legislature that will supplant Castro’s once it is ousted. (Curse and Kornbluh, 1999, p. 159). By July 1960, Russia and the U. S. were trading thorns. The Soviet Prime Minister Nikita Khruschev had announced its help for Castro to which Eisenhower resolvedly answered that socialism won't be permitted by the U. S.to develop in the Western Hemisphere (Sierra, 2007, standard. 7). On October 28, the United States reviewed Ambassador Bonsal for all time back to Washington and followed later by authoritatively severing every single political connection with Cuba. Cuba before long started to get arms from the Soviet Union (Telzrow, 21 August 2006, 37+). The occupant administration’s intrigue was not just coordinated on Cuba in 1960. Inside, there was a progressively quick worry close by. It was battle period for the Presidential decisions. VP Richard Nixon was running against the well known Senator John F.Kennedy. He understood the affectability of the issue about Castro and socialist Cuba and rode as far as possible the American voters’ hostile to Castro conclusion and their anxiety towards its goals. Prior in the crusade, he was at that point advised by CIA Director Allan Dulles on knowledge matters as legally necessary and this instructions incorporated the secret data about the preparation of outcasts from Cuba who will be assembled for an attack on the island. At that point, just before a competitor's discussion, Kennedy assaulted Eisenhower's Cuba arrangement. He transparently called for U. S.support for the banished enemy of Castro powers and further shouted that up to this point, these outcasts had not gotten any help from the administration. Kennedy realized that Nixon won't have the option to counter this assault without bargaining the mystery of the arrangement. Nixon could just censure Kennedy for the flightiness of his announcements (Blight and Kornbluh, 1999, pp. 160-162). In the interim, the arrangement was consistently appearing. In May 1960, Radio Swan went broadcasting in real time. Utilizing an amazing transmitter, it communicated programs that were really taped in Miami. The Cuban ousted powers were set in Guatemala.The occupant President and despot of Guatemala, Gen. Miguel Ydigoras owed his situation to the CIA for upholding a secret activity in 1954 against then Guatemalan President Jacobo Arbenz. He subsequently permitted an air terminal to be worked in his nation. Nicaragua’s Anastacio Somoza likewise gave a preparation base in his nation (LaFeber, 16 April 1966, 537+) . The Cuban banished powers were altogether called Brigade 2506. They were initially being prepared off the bank of Florida. In the end, the size of the unit developed to around 1,500 warriors. The Castro government was not choosing to disregard against every one of these things that were going on.Eventually, Castro got his opportunity and on September 26, 1960, he tended to the UN General Assembly where he charged the U. S. for setting up a telecom station in Swan Island which the U. S. falteringly discredited by expressing that it was an exclusive station by a business telecom organization. After a month, Cuba again went in all out attack mode again in the UN General Assembly this time with the Cuban Foreign Minister Raul Roa giving very much educated subtleties on how the enlistment and preparing of these ousted powers were supposedly being conducted.In his location, be that as it may, he didn't call them banishes yet as hired soldiers and counter-progressives. He expressed that they were selected, paid and continued by the CIA by accommodating them and their families (Sierra, 2007, standard. 19). Afterward, in 2000, during a noteworthy gathering of the characters associated with the Bay of Pigs intrusion, these outcasts were indeed alluded to as hired soldiers so, all in all Fidel Castro adjusted him, â€Å"They’re brigadistas† (Dinges, 23 April 2001, 6). It was Castro’s procedure to reverse the situation of remote assessment against the Americans and later we will perceive how this strategy by Castro end up being effective.At the between time, a financial plan of USD13 million was affirmed by President Eisenhower. He likewise approved the utilization of the Defense Department’s staff and gear yet distinctly taught that no American resident must be utilized in battle. Be that as it may, the CIA’s beginning endeavor at dropping weapons and supplies in Cuba bombed pitiably. The drop zone was missed and the ground operator w as gotten and shot (Blight and Kornbluh, 1999, 161). On January 1961, President John F. Kennedy got down to business. Subsequent to battling vigorously against absence of activity on Cuba, he basically caught himself. In LaFeber’s (1986), Kennedyâ€Å"despised Castro and saw himself clashing with Nikita Kruschev over which superpower would control the Third World. He was additionally energetically dedicated to a sentimental perspective on counter-progressive activities and dreaded being marked as less of an enemy of Communist than Eisenhower, whose strategies he had impacted just months sooner. So the assault proceeded the evening of April 17† (537+). Before the real attack occurred, the arrangement changed a few times because of a few variables. Kennedy’s Department of State feared the significant effect on the US relations with Latin America (Lafeber, 1986, 537+).White House counselor Arthur Schlesinger, Jr. commented that while Kennedy was unyielding about no t utilizing US fighters straightforwardly, however the CIA followed up on the conviction that he will alter his perspective (Dinges, 2001, 6). Everybody was of the presumption that the Cuban individuals would all ascent precipitously to dispose of Castro (Lafeber, 1986, 537+). In the mean time, regardless of the considerable number of endeavors to abstain from having the US stamp on the banished powers by having the preparation camps and landing strip in Nicaragua and Guatemala, it was soon clear that the activity didn't stay a mystery for very long.It was even

Learn More About Persuasive Essay Examples

Learn More About Persuasive Essay ExamplesIf you need a better or more persuasive way to gain the attention of your audience, using persuasive essay samples can be a great way to do it. People all over the world to read and respond to different types of writing, from print, audio, video, or web articles to essay topics.Many people are on a deadline, such as a public speaking job or any time in a short notice event such as a job interview. Using a well crafted persuasive essay in your resume or cover letter will make the interviewer think you know what you're talking about, and this can add confidence to the work that you're doing for your prospective employer.The point is, your audience will most likely not even read your paper. In fact, they probably won't even listen to it if you're being interviewed. If your audience is reading your essay, or even looking at it, they are not likely to click on the link in your signature line and go read the rest of your post!For this reason, it is best to use persuasive essay samples that are properly written and organized, with an agenda. Since your audience is going to be spending a long time listening to you talk, or reading your paper, it makes sense to persuade them to read on.One thing that you should always remember to include in your papers is a 'Call to Action' or a 'Thing That Sounds Like it Could Be Worthwhile to You.' Some people write these sections out and add them to the end of their piece, but it's a much better idea to write out your call to action first and then work your body of text around that.Many professional writers use persuasive essay samples as an outline or as a template for how they can structure their entire writing piece. When you are writing a persuasive essay, this makes perfect sense, because the very act of writing makes the reader want to read on to find out more about the topic or idea at hand.In order to get the most from your readers, the longer your paper, the better. As a result, you want to use persuasive essay samples that are organized, and create an outline for your paper that will help you organize your thoughts.Since you have the option of reading it online, you can easily put in what needs to be put in, then make notes as you go. This will give you a more organized and well-thought out paper, and your audience will be much more receptive to what you are saying.

The Problem Of Online Gaming - 1677 Words

To introduce this subject, I must state that though this isn’t a wide spread, or controversial issue as some other social issues today, for example sexual crimes, racial and religious crimes or poverty and economic issues. It is slowly becoming more relevant every day thanks to the spread of internet use to many homes and the advancement of technology that has allowed gaming to become a form of entertainment that can be found in most homes in the modern developed world. Gaming has become a past time that most kids experience and some of those children continue their gaming experience all the way in to adulthood as a hobby. Online gaming is a relatively new experience, having really been brought into light in the past decade with the introduction of broadband internet. (Cash 2012) A study done by researchers at Iowa State University and the National Institute on Media and the Family stated that a nationwide survey of 1,178 American youth aged 8 to 18, found 1 in 10 video game players or 8.5 percent of American youth, show some signs of being addicted. Out of those who were studied some displayed at 6 of 11 symptoms of pathological gambling as defined by the American Psychiatric Association. They used gambling rules because at the time and some still state that there isn’t really a clear cut definition for gaming addictions. The most common of these games are what are called MMORPG’s or Massively Multiplayer Online Role-Playing Games. This term refers to games that have youShow MoreRelatedThe Problem Of Online Gaming Addiction1080 Words   |  5 PagesMassively Multi-Player Online Role-Playing Game (MMORPG), World of Warcraft. Surprisingly, Van Cleave’s situation is not unusual, nor is it uncommon to hear of or know somebody with a substance addiction. 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But someone thinks that online gaming could only take the negativeRead MoreAn Analysis on the Advantages and Disadvantages of Playing Computer Games or Online Gaming†612 Words   |  3 Pagesadvantages and disadvantages of playing computer games or online gaming† August 19, 2013 Presented by: Rey Pahunang Presented to: Ms. Michelle Odchigue Introduction Playing game is a natural part of growing up. It is one way that person can learn to socialize and compete. Computer and online games , in most instances are no more dangerous than other games that people plays. But sometimes computer and online games become more than just play. They become an addictionRead MoreEssay about Online Gaming in South Korea1629 Words   |  7 PagesOnline Gaming in South Korea The rise of online gaming in South Korea has brought improved economic prospects and notoriety, but at what price? Beginning in the late 1990’s South Korea has quickly become the undisputed king of the online gaming world. Gaming and the culture that has grown up around it are now the defining aspects of the lives of many South Korea youths. While this eruption of online gaming has created revenue for the country and made South Korea a global hotspot for internationalRead MoreBenefits Of Playing Video Games1421 Words   |  6 PagesOnline gaming has become a serious problem in the society especially among young adults. This is because, most young adults are now stuck on their computers and internet, playing games all day. This has led to serious gaming problems among such individuals because they have no social life outside of the game world. Playing game, is a good way of having fun and developing one’s cognitive ability. The benefits of playing video games are numerous when done in moderation. â€Å"Playing brain-teasing gameRead MoreThe Problems Faced By The Video Game Industry 1688 Words   |  7 Pages Introduction Lack of mutual trust, teamwork and communication are the major problems faced by the video game industry. Mutual trust, which is an essential component of teamwork in the teams is responsible for the coordinated attitude in teams. Teamwork is now seen as being essential to achieve goals and complete projects. As more organizations and companies are coming to this understanding, considerable investment is being made in understanding better, how teamwork can be fostered within organizationalRead MoreOnline Game Addiction1399 Words   |  6 PagesPS1A ONLINE VIDEO GAME ADDICTION: IDENTIFICATION OF ADDICTED ADOLESCENT GAMERS Studies have constantly verified the reality of a small subgroup of video gamers that is seemingly addicted to games. Although video game addiction is not a new observable fact, the introduction of an online component in the current generation of games has almost certainly increased the size and possibility of the problem. This online factor in gaming led to the instigation of handling programmers targeting gaming addictionRead MoreGaming And Casino Hotel Industry1555 Words   |  7 Pages Executive Summary Gaming or gambling industry is clearly accelerating the transformation, and opportunities and challenges are mixed in the trend. The November 4th vote has given us a highly positive signal about the future of casino industry in Massachusetts, however, we still have to look into the trend and capitalize on this great chance. We have witnessed the conversions of online gaming to land-based casinos and land-based casino to online gaming, the burgeoning digital social media and soRead MoreWebsite Analysis : Mobile Casino Gaming1704 Words   |  7 PagesBlog 1 – Mobile casino gaming set to make a serious impact in 2016 The way the world operates is changing, with the degree of evolution not escaping the online casino industry. When it comes to casino online play, the general public will largely know it as something that is conducted through a desktop computer or laptop. This isn’t something that is going to disappear from the earth entirely, as online casino gaming will always be conducted in such way, but a new format is certainly stealing a degreeRead MoreOnline Gaming Addiction Among Teenagers1565 Words   |  7 Pages Impact of the issue related with gaming The playing of online games impacts teenage gamers socially, educationally, ethically and psychologically on teenagers. This issue involves numerous stake holders. They are mainly teenagers, parents, friends, policeman, and the game company. The advantage of playing online game is that it allows people to communicate to numerous numbers of others from different cultural backgrounds and countries. In the game, a gamer may want to exchange his item with

How a Photovoltic Cell Works

Chin An Entrepreneur Economy With Tyrant Government

Today China is the most element entrepreneur country. It doesn t have the right to speak freely. Individuals are detained if dissented and who undermine security and there doesn t exist common freedoms, worker s organizations, and focuses of political force outside to comrade party. At the point when comes to financial matters among the world s countries there is no more in the middle of socialism and free enterprise. It s political. China is an entrepreneur economy with tyrant government. For a long time, suspicion made that free enterprise and majority rules system goes as one. The American arrangement towards China had key components to empower unhindered commerce, open markets and direct venture, for China to wind up more fruitful†¦show more content†¦economy. China is the biggest exporter and second biggest shipper crosswise over world. In the year 2012, China s per capita GDP was $9,233 contrasted and $49,965 in the U.S. In future till 2020 China GDP may reach $10,000, one-fifth is anticipated for the U.S. China s populace in 2012 was 1.4 billion, America s 316.5 million. In 2020, China s populace will be quadrupled that of the U.S. China s financial development rate will stay to increment at a higher rate in light of the fact that the base of economy will develop is colossal in examination. These two extraordinary significant forces will coordinate or contend. Americans at times see the Chinese state as equivocal. In any case, given the way that power is partitioned in the U.S. political framework and the incessant force turnovers between the two primary gatherings in the United States, the Chinese likewise experience serious difficulties U.S. goals. All things considered, over late decades, a long haul U.S. methodology appears to have risen out of a progression of American activities toward China. So it is not a sad activity - surely, it is important - for the Chinese to attempt to investigate the United States. Most Americans would be astonished to take in the extent to which the Chinese trust the United States is a political force that tries to shorten China s political impact and damage

The Rationale Behind a Turnaround Strategy of a Firm free essay sample

Many of them failed and had to be wound down, many are still in a phase of decline and their future remains to be seen – but some were able to come up with a new strategy and a new organisational structure and are leaving the crisis stronger than before. This might be traced back to their superior turnaround strategy. A constant adaptation and re-examination of current strategies is no longer only a competitive advantage, but a necessity: â€Å"It is not a question of whether firms should change, but of where, how and in what direction they must change† (De Wit and Meyer, 2004:163). This essay will therefore focus on turnaround strategies and the thus related issues. First, the concept as well as the main terms and stages will be introduced. This will be followed by a closer examination of the reasons for turnarounds in two particular companies, namely Samsung and HP, and the effectiveness of different strategies in differing situations, illustrated by examples of HP and General Motors. Finally, a conclusion shall be given. Turnaround strategies A turnaround strategy is a reorientation of an organisation experiencing a crisis. Whereas the general corporate strategy is described as â€Å"the direction and scope of an organisation over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations† (Johnson et al. , 2008:3), and is therefore able to evolve over time, a turnaround strategy is the reaction to a sharp deterioration in performance and a worsening of the general state of the company to an extent that becomes a threat to its survival (Luffman et al. 1996:140). White (2004) describes a turnaround strategy as a radical change in a firm’s strategy with a possible alteration of its structure and culture. Ideally, it should lead to a superior and sustainable performance in future. However, it is conceived under enormous pressure and great difficulties, and it brings the additional need for fast reactions with it, which in practice makes it a big challenge to implement a successful turnaround. Although much research has been carried out about turnaround strategies, the measures applied and the strategy chosen are specific to each individual company and is derived from its main business, its competitive advantage and its industry characteristics. Nevertheless, they share the feature of addressing areas which must be developed to achieve a sustained recovery (Thompson, 1997:538). Turnaround strategies are designed to bring quick results but also to contribute towards long-term growth. Different authors subdivide turnaround strategies in different stages. Hunger and Wheelen (2007) for instance describe only two phases: contraction as the first and short term reaction, meant to â€Å"stop the bleeding†, consisting mainly of cutbacks across-the board to limit size of and costs to the organisation. The second phase called consolidation aims at stabilising the company and focuses on the reduction of costs of functional activities, e. g. overheads. However, in their approach, a turnaround is viewed as simply a type of retrenchment strategy and not a stand alone and complete new alignment and orientation of the organisation, thus reflecting an approach slightly different from other authors (e. . De Wit and Meyer, 2004:163). Opposing to this, Johnson et al. (2008:523f) go more into detail when they describe the main elements of a turnaround strategy as follows: crisis stabilisation (short term focus on reducing costs and/or increasing sales), management changes, gaining of stakeholder support, clarifying the target markets, financial restructuring and prioritisation of critical improvement areas. They do however not stress the timely order of events, thus indicating that it might be more difficult in practice to distinguish between different phases. De Wit and Meyer (2004) add to this when stressing the problem of pacing change correctly; they describe disruptive and gradual change. Usually, they are not mutually exclusive but have to be balanced well in order to achieve a sustainable turnaround. A detailed and comprehensive approach is offered by McKiernan (2006:760) who describes six stages, beginning with the causes stage, the triggers and the diagnosis stage, followed by the retrenchment phase, recovery and renewal. Each of these stages brings its own challenges and some shall be described in more detail below. Leadership and management in turnarounds The behaviour of leaders and managers is crucial for the successful implementation of a turnaround. White (2004) states that the success of a company is usually associated with two people, the founder and the person mainly responsible for the turnaround. The outcome of the turnaround depends to a large extent on their personal abilities. Cummings and Wilson (2003:398) characterise a so-called turnarounder as â€Å"a leader who chop[s] and change[s] the basic already established characteristics of the organisation, for example emphasize[s] one or more areas of the core business and deemphasize[s] others†. According to McKiernan (2006:784), the personalities of the people on top of the organisation further influence the capability of understanding the need for a turnaround and the speed and effectiveness with which this turnaround is carried out. The more the important people within an organisation are used to doing business in a certain way, the less likely they are to change their strategy, but rather to search short-term operational solutions in order to react to the corporate decline. He finds that, during a decline, managers tend to react with disbelief and stick to their standard operations in order to try to improve short term results. Once they accepted the crisis, they apply a more autocratic behaviour, which reflects the need for fast and tough decisions to be made (McKiernan, 2006:786). Sometimes, however, the managers and leaders have become so accustomed to the old way of doing business that they have to be replaced in order to allow the organisation to change. The notion of turnarounds Although turnaround strategies are always specific to a particular company and its individual situation, industry and economic surrounding, there are common stages that can be observed in general. Corporate Decline Although it is important to recognize the decline in time, it should not be confused with a temporary deterioration of the company’s position due to the economic lifecycle. Luffman et al. (1996:140ff) describe the decline of a company as a state when there is some doubt about its survival; usually this state can be traced back to the inability of the company to generate sufficient profits. Mc Kiernan (2006:762f) defines it as â€Å"an unintentional contraction of the strategic discretion of the firm’s executives†; thus as being an external force that reduces the freedom of action of the managers. He adds that declines can be broken down into four groups: â€Å"a deterioration in the resources or stock variables†¦ a deterioration in performance or flow variables †¦ a deteriorating ability to adapt to changing external and internal pressures and as a stage in the organisational life cycle†. Whereas the first two can be diagnosed on the basis of the financial data available, the latter two are more difficult to recognise. Symptoms of corporate decline In general, there is the danger that symptoms are taken for causes, which might lead to a flawed new orientation. It is crucial to distinguish the two, as the symptoms are only the outside effects of the underlying causes, and it is essential to fight the causes and not the symptoms in order to regain a sustainable strategy. Whereas Luffman et al. (1996:140-145) describe the symptoms as becoming evident in the finance and marketing figures, McKiernan (2006:764-766) divides them into two groups, namely public and private symptoms. The public symptoms relate to financial information about the company and are thus visible to outside parties (companies therefore tend to distort the picture to appear as favourable as possible). Additionally, there are private symptoms that pertain to the human capital of the firm e. g. personnel turnover. Those are more difficult to measure, but are also part of the overall deterioration of the company’s state. Causes of Decline Overall, the identification of the causes of the decline is essential; however that is much harder to do in reality than in theory and hindsight (McKiernan, 2006:788). White (2004) describes the main reasons for a turnaround as poor management at any level, overexpansion, lack of financial control (with the result of high costs), new competitors, unforeseen changes in tastes and/or organizational inertia. Opposing to this view, McKiernan (2006:768-771) identifies the primary and main cause of decline of a company as the failure of an organisation to learn and adapt to a changing environment, and only after that, as secondary causes, to more detailed failures in the operational side of business, subdivided into financial and managerial conduct and a change in demand conditions. Retrenchment Problems Even though retrenchment is usually the first reaction of a company in decline (which is logical as obtaining a positive cash flow is a clear necessity), it should be carefully tailored to the individual needs of the company in question. It consists of either cost or asset reduction with the aim of halting the decline and to give the management time to think about longer-term objectives and a new strategic direction. Ideally, the retrenchment should already be linked to the targeted turnaround strategy of the firm, e. g. f it is agreed to pursue growth, costs will be cut in different areas as if an increase in efficiency within the existing structures is decided (McKiernan, 2006:790f). Possible problems are the danger of cutting too much costs in areas essential to the business and of loosing people important to it (e. g. in marketing) and a deterioration of employee’s attitude who have to cope with the uncertainty that the cost cutting brings with it. Re covery Strategy Recovery describes the stage in which the company has reached a phase of stability through the retrenchment process. The form of the recovery is again unique to each firm and depends on numerous factors. McKiernan (2006:794) describes two main recovery strategies: efficiency oriented strategies can consist e. g. of the liquidation of subsidiaries, divestment and an overall improvement of efficiency and is applied when the causes for the decline are internal. Entrepreneurial strategies, e. g. market penetration, new product developments and acquisitions, are chosen when the decline was caused externally. It is important in this phase that the management does not hold on to their old convictions of how to do business, but allow a new strategy to be developed. Leadership is here â€Å"one of the critical elements of recovery† (McKiernan, 2006:797). Whereas during a turnaround, a more autocratic style and good â€Å"motivational skills, powerful communication ability, flexibility, excellent diagnostic and analytical ability under time constraints, ability to work to a punishing schedule under duress and fast implementation skills† (McKiernan, 2006:798ff) are needed, as soon as the company obtains stability a more democratic and softer approach is more rewarding. This might be difficult to apply for the same managers. As always, this is much easier in theory than in practice, as McKiernan (2006:795) points out: â€Å"In practice, the actual number of generic recovery strategies a firm needs to employ is considerably greater than the actual number of causes of decline†. Recovery strategies can sometimes be helped by luck or external factors, as there might be a boost for the turnaround of the company resulting from a change in conditions in the outside environment of the firm, e. g. a cyclical upturn in demand or the exit of competitors. Renewal Strategy As the final stage, the renewal strategy shows if the turnaround has been successful or not. McKiernan divides two main important parts of it: the regaining of a good recovery that can be measured by indicators and the introduction of an organisational culture which is able to steadily learn and improve. This point will further be discussed under the effectiveness of turnaround strategies. The reasons of a firm to turnaround Although the decline as such would be reason enough to rethink the current strategy and reorganise the company’s structure, it is normally a steady and ongoing process. Old routines and operations are so persistent that a concrete reason is needed to finally trigger the change. Generally, it can be said that a crisis hitting the firm and a deterioration of its performance below a certain level that is internally accepted are the main reasons for a turnaround, as stakeholders then tend to demand a far-reaching change in strategy and operations. The performance can of course be measured in different ways, e. g. as mentioned above, Luffman et al. (1996:140) describe the main reason for a turnaround as the inability to produce sufficient profits; and Hunger and Wheelen (2007:99) add to this a weak competitive position of a few or the complete range of products. Opposing to this view, McKiernan (2006:776) refers to the reasons as triggers, and he argues that a deterioration of performance is never enough as those levels tend to be shifted downwards to meet reality; only when it falls below a level that was concretely aspirated, a change will be implemented. However, it depends on the characteristics of the managers responsible if the need for change is spotted early enough to enable the company to leave the crisis on time. When discussing real world examples of the appliance of turnaround strategies, the diversity of reasons might ecome a bit clearer. Two examples shall be used to give a more comprehensive impression of different reasons for turnarounds, followed by different strategies: Samsung, which focused on an internal reorganisation and HP that merged with Compaq in order to join forces. The Samsung Group is a well-known and highly diversified South-Korean conglomerate (cheabol). Nowadays, it is famous for high-end goods with an innov ative design (Ichlwan et al. , 1999). The success of the company is based on its ability to change and to respond to changes in its business environment properly. In 1996, the Samsung Group had to face two unfavourable changes in its business surrounding: a crash in memory chips prices which hit it hard as at that point of time nearly 90 per cent of the profits of the branch Samsung Electronics were retrieved from the production of those, as well as the Asian financial crisis starting just one year later; this naturally affected the whole conglomerate. As described by the CEO of Samsung Electronics, it was ‘a near-death experience’ (Edwards et al. , 2005). In response, Samsung Electronics started to implement a turnaround strategy. The main problems identified were poor supply chain management, a focus on growth at the cost of profitability, a high level of debt and an excessive number of employees. Furthermore, strategic decisions had been based on non-economic motivations. The turnaround strategy applied addressed all aforementioned issues and was started with the process of financial reconstruction. Samsung put much effort into the reduction of debt; a tighter financial control was introduced. The company focused only on core business activities; in turn, non-performing assets were sold and the number of employees was reduced by one third. Going global was a part of new strategy; emphasis was put on the development of new products and the diversification of the portfolio. The company re-focused and concentrated on high-end customers, targeting overseas markets, mostly the US and China. A ‘profits first’ strategy and introduction of just-in-time technique were further important elements of the new strategy (White, 2004, p. 754-759). It can be said that Samsung tailored the strategy to its specific needs, and left the crisis successfully, as the results of this turnaround helped Samsung Electronics to become a global giant in electronics. The changes that took place within the company are displayed in greater detail in the figures in Appendix 1. Hewlett and Packard (HP) is a global provider of computers and imaging solutions who, prior to 2002, focused on making imaging and computer technology. During May 2002, however, HP acquired Compaq, a leading provider of enterprise technology and solutions, to enlarge its product offerings and increase the overall scale. The aim was to combine the value and performance of the two firms in order to complement each other’s weaknesses and to thus attain a competitive position (HP website, 2010). Additionally, it would enable HP to gain immediate access to new emerging markets. The reasons for that merger were a result of deterioration in the HP’s overall performance (Wall Street Journal, 2001); they especially struggled to keep up with competition and rising costs, economical external pressure and internal problems like a need for cost cutting and lack of management skills. Following that merger, a reorganisation was needed, consisting of downsizing of staff, elimination of overlapping products, a change of the top management ( with brought HP a new CEO with a new management style which proved to be very favourable for the company), a new focus on the product innovation and customer loyalty as well as on long-term growth. The new HPQ created from this merger agreement was an $87 billion global technology leader. This company offered the industrys most complete set of IT products and services for all kinds of customers, businesses and individuals. The combined company had number one worldwide revenue positions in PCs, hand-helds, imaging and printing, IT services, storage and management software. So although the reasons as well as the applied strategies of these two companies were different, both engaged in a turnaround strategy in order to improve their position; and both did it successfully. The effectiveness of a turnaround strategy The difficulty in evaluating the effectiveness of a strategy certainly is the long-term focus inherent to them. Surely the short-term results are important as stability has to be regained, but a good and sufficient turnaround strategy requires the organisation to learn from the crisis on the long-term. Again, different authors take complementing positions. Thompson (1997:532-534) identifies four possible outcomes of a turnaround process, namely non-recoverable situations, short-term survival, mere survival and sustainable recovery. Non-recoverable situations are likely to occur when a company is not competitive and its potential for improvement is low due to overall business conditions or externalities. Temporary recovery is likely to occur when a company operates within unattractive and declining industry. Even if costs are reduced and additional revenues are generated, due to the decline of a whole sector, the company is unable to improve its financial position in the long-term. It is then important that the company reinvests the cash generated from the retrenchment and diversifies and expand new market segments. In the case of mere survival, turnaround is achieved but there is little further growth. This outcome may be expected within industries that are in slow decline or are generally unprofitable and competitive. Sustained recovery is likely to be a result of a genuine and successful turnaround, e. g. development of a new product or market re-positioning. This kind of recovery may happen when a company operates in strong, effective market and problems were caused by poor management rather than by decline in the whole industry. Slatter (in Thompson 1997:532) adds three main conditions necessary to achieve a sustainable recovery state to this, namely asset reduction in order to generate cash, a new strategic leader and the implementation of better financial control systems. Shaughnessy and Harrigan (2009) stress the importance of the commitment of many parties for the outcome of a turnaround strategy, e. g. shareholders, suppliers, employees, distributors, creditors and customers. The company, in order to complete a turnaround process, often needs additional funding which again can be provided by stakeholders. Tolerant suppliers who may agree to extend credit, motivated employees who are willing to implement necessary changes and loyal customers should be considered as factors that may influence the final result of turnaround process and should not be overlooked. According to McKiernan (2006:800), the evaluation of a turnaround strategy consists of two parts. On the one hand, there are characteristics which can be traced back to the actions taken in the retrenchment and recovery phase; he therefore identifies seven performance indicators for a good recovery and an effective turnaround: good management, appropriate organisation structure, effective financial and other controls, sound product-market posture, good marketing management, a maintained high quality, and tightly controlled costs. However, in order to not only gain a short-term stability, the organisation must learn something from the crisis to gain a sustainable recovery. The second and very important point is therefore the establishment and nourishing of a learning culture, in which â€Å"the organisation learns through exploitation†¦exploration†¦mutation† and has to â€Å"constantly maintain and develop the routines within each† (McKiernan, 2006:803-805). As firms can no longer allow themselves to be inflexible, they must accept and adapt to the fact that â€Å"change must become the norm† (ibid). A look at examples from real companies can again be quite helpful in order to show the diversity of the outcomes of a turnaround strategy. In the case of HP, the merger was expected to create cost synergies reaching approximately $2. 5bn annually and deliver a significantly improved cost structure. Looking at the short-term results and improvements (see Appendix 3), the immediate results did not all look as favourable as hoped for. The gross as well as the operating profit margin had declined, mainly due to the external pressure HP had to deal with as well as an increase in cost. However, the debt/equity ratio fell, too, as HPQ was able to repay some of its debt, which is a sign for a regaining of the cost control; one of the indicators McKiernan mentioned for an effective turnaround. When looking at the long-term results, HPQ is currently performing pretty well. In 2006, it had shown an annual revenue of $91. 7bn, making it the worlds largest technology company in terms of marketing and sales. It has proven that the massive integration efforts after the merger were successful and led to higher revenues and profits for the combined firm. HP had not only improved its position in major core markets, but also, according to a IDC report, it had heavily benefited from the cultural integration during that merger. The turnaround strategy applied has worked out and been beneficial for the whole organisation. (Edgar-online). However, turnaround strategies can also fail dramatically, as can be shown at the example of General Motors (GM). It had incurred huge losses due to the financial crisis of 2007/8 which resulted in a reluctance in the end-consumers to spend (a loss of $38. bn in 2007 and was also heavily indebted). Selling luxury products and fuel consuming vehicles, it was additionally hit hard by the rising oil prices. A retrenchment strategy included selling the less successful brands and the dismissal of employees. Several restructuring programmes in different areas and branches as well as several turnaround strategies were proposed, but none of them resulted in the needed turnaround ( for more details, see Appendix 4 ). Even state aid for some subsidiaries and the parental company did not help to attain a healthy recovery. GM had to file for bankruptcy procedures in 2009 and are now owned by the Canadian and the US governments. They are continuing to cut jobs and are planning to pay back the governments the credit and state aid they received, but they still are suffering shortcomings and facing difficulties, and the final outcome remains to be seen. Conclusion Turnaround strategies are as diverse and manifold as the companies there are. Although common features can be observed, it is very difficult to recognise the need for a turnaround in time and restructure the whole organisation appropriately to regain a sustainable situation. The development of a turnaround strategy is an interplay between numerous factors individual to each business, so common rules and guidelines are hard to come by. The characteristics of the CEO, the management team and the stakeholders are very influential as well as the particular reasons for the corporate decline, the prevailing corporate culture or the surrounding economic conditions at that point in time. This essay might have shown that, although a lot of research has been carried out about turnaround strategy, the authors sometimes disagree in main points; and the tailoring of the individual strategy is very difficult in practice and not always crowned with success. Especially the latest global financial crisis has demonstrated that it is not easy to react to critical situations – and the future will hopefully set more examples of successful and innovative ways of how companies can turn a bad situation around and leave a dangerous decline to regain healthy growth and a sustainable recovery. Appendix 1: Samsung The results of its turnaround helped Samsung Electronics to become a global giant in electronics. The changes that took place within the company are displayed in the figures below. Figure 1 Breakdown of sales (in KRW bn) – increasing diversification of product portfolio secures cash flows from different business sectors and markets Source: Samsung Electronics Annual Report 1998, 1999, 2000 Figure 2 total sales (USD mn) Source: Samsung Electronics Annual Report 1998, 1999, 2000, 2001, 2002, 2003, 2004 Figure 3 Ramp;D expenses (KRW bn) – shift from imitator to innovator, increase in Ramp;D expenditure and the number of people involved in Ramp;D process Source: Samsung Electronics Annual Report 1997, 1998, 1999 Figure 4 debt to equity ratio – reducing external debt as a result of strict financial control, profitability as a main aim Source: Samsung Electronics Annual Report 1998, 1999, 2000, 2001, 2002 Figure 5 Comparison of domestic and overseas sales – going global, focus on overseas markets Source: Samsung Electronics Annual Report 1995, 1996, 1997, 1998, 1999, 2000, 2001, 2002, 2003 Appendix 2: HP Reorganisation after the merger with Compaq Cost cutting: layoffs of 15000 jobs. Elimination of overlapping products: Products that appear on the product lists of two or more separate groups of countries are eliminated for the purpose of combining the groups in a single multilateral organisation. Top management change: CEO change with the objective of meeting the challenge for change and to keep HP on its goal to become the worlds leading information technology company, Chairman and CEO Carly Fiorina stepped down n February 2005, and Mark Hurd was named CEO and president in March). Psychological Strategy : not to deal with the past, but to look to the future†, based on metrics and other performance. Invent new technology and services: To create social benefits and customer lives. Increased customer loyalty Solving technological issues: implementation of user testing and bench marking. More focus on long-term growth opportunities: Ramp;D investments, technologies for being const antly connected, always personal mobile experiences, and an abrupt change from analogue to digital. The most important factor of HPs turnaround however is Hurds personality and management style. The friendly style and hierarchical communication approach played a vital role. STRATEGIC ANALYSIS: Industry Challenges: HPs key element in global citizenship is to design products and services that are socially and environmentally responsible throughout the products life cycle. Central to this challenge is managing product design to meet various regulations that affect the design of their products. These regulations can be inconsistent from one jurisdiction to another, may not always be clearly defined, or may not easily accommodate design lead times. HP actively works with governments, industry partners and other stakeholders to attempt to harmonize these regulations and achieve their shared environmental goals in a manner that is consistent with technological innovation. HP’s business strategy and mission statement is to provide customers with superior products, services and overall experiences by providing leading-edge technologies that work seamlessly together. HP seeks to be a leader in each of the specific product and service categories in which they compete and to expand actively into new and adjacent markets. To achieve this, they use a so-called adaptive enterprise platform, revolving around the four points of emphasizing standardization, virtualization, simplification and modularity and integration. Designing with these principles is supposed to provide the most cost-effective infrastructures that can flexibly adapt to changing business dynamics. World class cost structures and processes across their entire portfolio of businesses : HP focused on leveraging their scale to maximize purchasing efficiency and leveraging their global footprint to maximize technical expertise and cost structure improvements available in different regions around the world. They compete based on: Technology, performance, price, quality, reliability, brand, distribution, range of products and services, account relationships, customer service and support and etc. Effectiveness of the turnaround During 2001, when the CEO of HP argued that the combined company would be able to meet the customer demand for â€Å"solutions capability on a truly global basis. † She also claimed that the firm would be able to lead with its products â€Å"from top to bottom, from low end to high end. † As her crowning argument, she pointed that the merger made sense because it would create â€Å"synergies that are attracting. † The new HPQ created from this definitive merger agreement was an $87 billion global technology leader. This company offered the industrys most complete set of IT products and services for all kinds of customers: businesses and individuals. The combined company held number one worldwide revenue positions in PCs, hand-helds, imaging and printing, IT services, storage and management software. The merger was expected to create cost synergies reaching approximately $2. 5 billion annually and deliver significantly improved cost structure. Based on both companies past data , the new HP would have approximate pro forma assets of $56. 4 billion, annual revenues of $87. 4 billion and annual operating earnings of $3. 9 billion. It would also have operations in more than 160 nations and over 145,000 employees worldwide. In the meanwhile HP had encountered the biggest problem during the process of buying Compaq, was the decision of which of the tech giants computer products to keep and which ones to eliminate. Together, HP and Compaq produced many kinds of common products, many products are based on proprietary technology. Business analysts agreed that the merged company wouldnt be able to sell all of the products. The merger would result in HP shareholders having 64% of the stock in the newly formed concern. HP-Compaq would be the worlds leading company in all sorts of computer hardware (ranging from Printers, Personal Computers and Unix Servers). Fig (1) : Revenue, assets and operating earnings (Dollars in Billion) Source: http://www. hp. com/hpinfo/newsroom/press/2001/index. html, press release issued on September 3, 2001 Ratio analysis: The Gross-Profit Margin, in 2002 was 28. 34%, by 2006, however, it had comparatively decreased to 24. 29%. HPQ earned a gross profit of 24. 29 in 2006. The decline was slow but steady, mainly due a reduction in the price of its computers in order to compete with Dell. The Operating-Profit Margin, in 2002 was 6. 64%, whereas in 2006, it had declined to 5. 47% due to change in management structure. It mainly involves new costs. The Debt/Equity ratio in 2002 was 28. 34, whereas, in 2006 it plummeted down to 17. 66. During that time HPQ repaid some of its debts. The Current Ratio in 2002 was 1. 53, in 2006, however, it decreased to 1. 45. This is very slight decrease, and HPQ was still in a position to pay-off its short-term debts as and when they fell due. It decreased due to spending more of its revenue on expanding its businesses. (yahoo finance, 2010) HPQ today: Today, HPQ is performing much better than anyone had envisioned. In 2006, it had shown $91. billion in annual revenue as compared to $91. 4 billion for IBM which is more interesting, making it the worlds largest technology company in terms of marketing and sales. It had been clearly shown that both the firms had finally undertaken massive integration efforts and moved the joined company proceeded to higher revenues and profit . Furthermore, HP had improved its position in major core markets . Moreover according to a I DC report HPQ had heavily benefited from cultural integration. The infusion of Compaqs fast-paced culture helped to improvise its business dramatically. Appendix 3: Possible outcomes of a turnaround strategy according to Luffman et al. The possible outcomes of implementation of turnaround strategy are plotted in the figure below. turnaround strategies adopted sustainable recovery mere survival short-term survival failed turnaround financial position non-crisis crisis Figure 1 Types of recovery situations Source: Luffman G. , Lea E. , Sanderson S. , Kenny B. (1996). Strategic management. An analytical introduction. Oxford, Blackwell Publishers, p. 144 Appendix 4: General Motors Description of the situation prior to GM’s bankruptcy: In 2007, GM generated the biggest loss in the company history ($38. 7bn) and it was heavily indebted. Sales decreased due to a rise in petrol prices and a crisis-owed reluctance to spend as well as the credit crunch forced the company to restructure. The reaction of the company was the sale of the brand â€Å"Hummer† and the cutting of 47. 000 jobs, as well as an application for government support. However the situation worsened when the subsidiary Saab went bankrupt and Opel needed state aid ( to the amount of â‚ ¬3. 3bn). A further loss was incurred in 2008 ($30. 9bn), the state aid of $13. bn proved to be not sufficient. Share price fell by 87. 21%. Plans were made to abandon Pontiac and to focus on the core brands GMC, Buick, Cadillac and Chevrolet, but selling Saab, Hummer and Saturn. (Financial Times, 2010) In 2009 finally, GM had to face insolvency. As it was too big to fail, two governments intervened, and two new companies were created: the first was basically a tr ansformation of General Motors Corporation to Motors Liquidation Company, and another one called General Motors Company (of which the USA obtained 60. 8% and Canada 11. 7). Motors Liquidation Company sold all he relatively successful brands to General Motors Company which will be kept, and the less successful branches were liquidated (General Motors, 2010). The outcome still remains to be seen. 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