McDonaldization :: essays research papers

sociologist George Ritzer argues that the relationship between McDonald’s and our society runs even deeper. Beyond its commercial propaganda and symbolism, Ritzer says, McDonald’s is a potent manifestation of the rational processes that define modern society. Ritzer warns that the spread of such "rationalized systems" has had irrational consequences, not least of which is the "disenchantment of the world," a situation in which rationality takes over, leaving no room for the mysterious, unpredictable qualities that make us human. Ritzer’s scholarly work has been heavily influenced by German sociologist Max Weber, who feared that bureaucracy would spread until society became a seamless web of rationalized institutions from which there would be no escape. At the time when Weber wrote, in the early twentieth century, totalitarianism was the biggest threat to individual freedom. In the 1980s, Ritzer thought to apply Weber’s theories about rational systems to a very different threat: the proliferation of fast-food chains. When Ritzer began writing and talking about the dangers of "McDonaldization," he struck a nerve: some agreed with him, but many others rushed to defend the pop-culture institution. He went on to write a social critique on the subject, applying sociological theories to the culture in a way that lay readers would understand. The McDonaldization of Society (Pine Forge/Sage Publications) was successful enough that he wrote several follow-ups, including The McDonaldization Thesis and Enchanting a Disenchanted World (both Sage Publications). Ritzer’s most recent book is Explorations in the Sociology of Consumption: Fast Food, Credit Cards, and Casinos (Sage Ltd.). In addition to writing about sociology for a general audience, he teaches at the University of Maryland, where he is a distinguished professor with numerous academic awards and volumes to his credit. We met for this interview on a beautiful fall day at Ritzer’s home in Maryland. A breeze blew outside, picking up red and yellow leaves and twirling them across the grass while we sat inside discussing the disenchantment of the world. Jensen: What is "McDonaldization"? Ritzer: It’s the process by which the principles of the fast-food industry -- efficiency, predictability, calculability, and control through technology -- are being applied to more and more sectors of society in more and more parts of the world. Predictability: An Egg McMuffin in New York will be the same as an Egg McMuffin in Chicago. Customers can expect no surprises, neither pleasant nor unpleasant. Workers, too, behave in predictable ways. Those who interact with customers have actual scripts to follow.

Work Reform Essay -- Business Management

Work reform, as interpreted by the employer, is a modern concept that has at its core increases in efficiency and effectiveness and a content and stable workforce. Work reforms are a means to an end; the end being increases in efficiency, production, and profits in a volatile global market. Depending on which method is used, the goals are to motivate their workers to gain their compliance. By paying more attention to a workers values, attitudes, and psychological needs, etc. a company can set the foundation for a more militant workforce and perhaps circumvent unionization. A company can try to create a â€Å"corporate family†, for example, via a corporate culture to try to facilitate this type of reform. The implementation of a corporate culture is an attempt to get workers to â€Å"buy in† to the firm’s overall goals (Krahn, Lowe, Hughes, 2011 p. 244-248). Key themes include workers as human beings, organizational cultures, constant adaptation, co-operatio n, creativity, flexibility, work teams, doing more with less, continuous learning, flatter organizational structures, customer-service, and participative management, etc. The goals and motivations for work reform as it pertains to a workforce differ from those of firms. Workers see changes such as enhanced on the job decision-making, increased autonomy, a decrease in monotonous and arduous tasks, and more input into large company decisions(that will ultimately affect them) as positive. Other changes that workers would embrace are pay increases and the addition of family friendly work policies such as more free time, and on-site daycare. Since a number of large manufacturing and service firms are unionized, a motivation and goal for work reform, in this respect, would be for a co... ...enough research on it. Some drawbacks are less employment security, a loss of pay due to the profit-sharing model, and there is evidence of some firms engaging in downsizing and layoffs who have adopted HPW. There is also evidence that implementation of HPW systems in lower-tier service jobs results in negligible differences in any of the above categories. Only in the upper-tier services can more of the benefits of this model be had, which unfortunately leads to potentially greater market segmentation (Krahn, Lowe, Hughes, 2011 p. 267-268). Works Cited Krahn, Lowe, Hughes (2008) Work, Industry, & Canadian Society. (5th ed.) Toronto, ON: Nelson Education Ltd. Critoph, U (2010) Sociology 321 Study Guide. (Revised edition). Athabasca, AB: Athabasca University Athabasca University (2010) Sociology 321 Reading File. Athabasca, AB: Athabasca University

Dulce et Decorum Est Essay -- English Literature

Dulce et Decorum Est contrasts intensely with the poems mentioned. Poems such as Fall In, The Two Mothers, Who's for the Game? and Recruting only have one motive, they are created to encourage people to enrol in the armed forces. "Dulce et Decorum Est" contrasts intensely with the poems mentioned. Poems such as "Fall In", "The Two Mothers", "Who's for the Game?" and "Recruting" only have one motive, they are created to encourage people to enrol in the armed forces. Whereas Owen wrote "Dulce et Decorum Est " in order to inform people about the terror, anguish and torment which was experienced during the war. The recruiting poems make the war seem like a game and that you would be missing out on a big opportunity if u don't go, when really you would be better off safe at home! Verse One Verse one describes how the soldiers are returning to base camp. Owen uses a slow halting rhythm to suggest how much pain and misery the soldiers are encountering and to imitate how slow are walking. He does this by using punctuation. Verse one tells us a lot about the condition, both physically and mentally, of the men and it gives us an idea of the appalling conditions! He portrays this by his use of similes, metaphors and vocabulary. He uses similes such as, "Bent double, like hags"; this simile illustrates how many of the men fall ill! Owen also uses metaphors such as, "Drunk with fatigue", to display how tired the infantrymen are, this metaphor leads us to believe that the men are so tired that they are unaware what is happening around them! The poet's choice of vocabulary in verse one is very effective in communicating the message of fatigue. He uses words such as sludge, trudge, and haunting to describe the ... ...My friend, you would not tell with such high zest, To children ardent for some desperate glory, The old Lie: Dulce et decorum est Pro patria mori." This verse is directed at the authority figures! In the "Charge of the Light Brigade" onomatoepia is used to communicate the bravery of the soldiers and to recreate the sounds on the battlefield, "thunder'd" and "stormed at by shot and shell". Owen uses onomatoepia to describe the death of the soldier in the last verse, "Gargling from froth-corrupted lungs". My favourite out of the two poems has to be Wilfred Owen's, "Dulce et Decorum Est", mainly because it is more realistic about what I would have imagined the war to be like! It is the more emotional poem of the two as it is filled with the writer's own thoughts, fears and feelings. I think it is a wonderful piece of work and enjoyed studying it in depth!

The Impacts of the Global Recession of 2008-2009

The world recession of 2008 to 2009 was caused ultimately by global imbalances in trade and capital flows, globalization of financial markets, the trend towards a new finance-led capitalism and the related pattern of income distribution. The effects of the recession on Africa were tremendous and are still being felt today. Africa is homeland to numerous natural resources. Contrary to this, it is one of poorest regions in the world constituting almost 10% of the world’s population and ravaged by high crime rates and the HIV and AIDS pandemic.The worldwide economic crisis of late 2008 and 2009 made significant economic and social developmental challenges for African countries. Even if the impact of the economic crisis on Africa was expected initially to be less severe, its challenges have now been estimated to be profound. The profit Africa gained from the exports and imports of natural resources and commodities has reduced substantially. Trade with China and the United States o f America became significantly feeble. Interestingly, the outcome of the recession seems to vary from country to country.However, there have been common economic impacts seen from those countries which participate in large scale exportation. Therefore, this essay serves the main purpose of identifying the impacts made by the recession on Africa. These aspects include, impacts made on the tourism, agriculture, hospitality, banking, health, oil and mining sectors. In addition, it identifies the effects on the economy namely, global trade, foreign direct investment, remittances, foreign aid flow and over above this, the exacerbation of poverty as well the positive impacts and changes the recession brought.To make a start with this subject, the consequences of the global economic crisis have been manifold. The crisis has brought a profound economic decline in the economies of African countries and the growth rates have dropped. Furthermore, the impacts brought about by the recession hit all major economic goals, causing a down turn in the natural resources sector and recent development strategies.International trade has played a pivotal role in the economic growth of African countries, with the demand of African commodities increasingly growing in the global market. When the recession had worsened, the most immediate effect was a decline in the exporting and demand of African commodities. In 2009, global trade experienced the sharpest drop in seventy years especially trade in iron, steel and manufacturers and industrial machinery were affected severely. 60 percent of African exports go to the European Union as well as the United States. 1] Thus, considering the fact that America and European countries were adversely affected by the financial crisis, where imports fell by 2 and 5 percent respectively and a substantial fall in the prices of commodities such as copper and oil, African countries were the most vulnerable. As a result, there has been a major decrease in the economic growth rates and account balances. This is saddening, considering the fact that many countries depend on the exporting revenue of natural resources such as oil and minerals.By way of example, mineral exporting countries such as Zimbabwe, Zambia and the Democratic Republic of Congo dropped approximately 6 billion US dollars in 2009. Furthermore, countries such as Nigeria and Angola saw a deficit of about 79 million dollars and Uganda, the second largest coffee producer and exporter in Africa, experienced a shortfall from 36. 3 million to 23. 9 million. Moreover, South Africa’s total exports decreased significantly in 2009. The most affected product being wine which experienced a large drop in total volumes.Pursuing this point further, the decline in the price of African commodities led to a major loss in trade and trade tax revenue. For instance, crude oil which plays a vital role in making products such as paint, diesel fuel, heating oil and make up has been rep orted to be the most affected commodity in Africa. There have been numerous statistics showing its decline by 50 % between 2008 and 2009. [2] Over and above this, there has been a 20% fall in the prices of coffee, sugar, copper and cotton during this period.According to statistics given by the African Development Bank, Africa has experienced a decline of 15 billion US dollars in trade tax which accounts for 4. 6 % of government revenue and 1% of Gross Domestic Product. Moreover, the major African oil producers Angola and Nigeria together suffered a loss of 4. 6 billion US dollars in their oil exports. In fact, this has been the largest loss for oil exporting countries of Africa. With regards to the oil, the demand for international market has been reduced by a large margin, coupled with a decline in oil prices.These are the circumstances that have lead to a decline in the oil sector. Oil is a major source of energy in Nigeria and the world at large. As the mainstay of the Nigerian e conomy and by playing a pivotal role in shaping the economic and political destiny, the reduction of oil exporting revenue consequently affects the economy at large. [3] In the case of both Nigeria and Angola there was a decline in government revenues from 30% in 2007 to 22% in 2009. This in turn significantly reduced the value of the currency. By way of example, we shall look at the impact the recession had on the tourism and hospitality sector.Tourism is key sector for triggering economic growth and in addition, it is a major source of foreign currency and its labour intensive nature ensures that there is employment. Countries like Morocco, Mauritius, Uganda and Kenya are largely dependent on their tourism revenues. Most notably, Botswana’s tourism sector is one of the counties major economic contributors, with tourist attractions like the Chobe National Park, Central Kalahari Game Reserve, Gemsbok National Park to mention but a few. Like numerous other industries, this sec tor was adversely affected by the global economic crisis.Mainly hotel reservations dropped immensely and Mauritius and Tanzania faced numerous tour cancellations. Consequently, a decline in tourism revenue affects food security, purchasing power and potential for expansion. Moreover, in Kenya we see a steady fall in remittances in October 2008 from 61 million dollars to 39 million dollars in January 2009. In fact, tourism receipts went down by 13% in the last quarter of 2008. Additionally, tourism in Zimbabwe was amongst the fastest growing sectors of the economy by contributing significantly to Zimbabwe’s Gross Domestic Product during the period 1980 to 2000.However, as a result of the recession, tourism was the third largest foreign exchange earner in Zimbabwe after tobacco and gold. [4a] In spite of many economic and political hindrances, Zimbabwe is host to one of the Seven Wonders of the World, the Victoria Falls and is home to many tourist attractions such as Lake Karib a, the Eastern Highlands, Great Zimbabwe ruins and boasts of a favourable warm climate. This explains why tourism has historically been an important sector in the Zimbabwean economy. The industry currently employs a significant percentage of the working population.This leads us to the issue of unemployment. Unemployment rose quite drastically in 2009, between 13 and 18 million jobs were lost according to the ILO. [4] Unemployment is rising as a result of the laying off of workers in export orientated industries. Furthermore, the continuing decline in the consumers’ purchasing power reduces demand for manufactured goods, such as household items, clothing and food. In the DRC, 100 000 workers lost jobs following the closing of 40 mines and as a result of 17 mining firms leaving the country.In addition, 80 000 workers in Zambia’s copper belt were left jobless. Many Zimbabwean citizens go abroad in search of greener pastures, and remit money to their families back home, wi th the sole purpose of investing and consuming. Most of these citizens are either living in South Africa or the United Kingdom. Thus, the world recession reduced employment opportunities to those citizens working abroad. Moreover, there has been a rapid decline in remittances since rising unemployment in Europe is compressing the demand for migrants.The estimated $15 billion dollars sent to Africa as remittances each year dropped significantly by 11%. A decline in remittances also affects household income security. It is of adequate importance to note that these remittances comprise of capital inflows, which are the main source of Africa’s external revenue. These include foreign aid, migrant workers’ remittances and charities. As far as foreign aid is concerned, the majority of African countries largely depend on foreign aid and other charities from the international communities such as Aid for Africa as well as the United Nations. 5] Before the crisis arose, many Afri can countries saw an increase in their annual aid and received a lump sum of money and commodities from many of the countries who form the G8, as a result of the their 2005 summit. However, when the crisis had a profound impact on the American and European economies a number of these developed countries were either forced to withdraw or reduce their aid to Africa. As far as the Organisation for Economic Cooperation and Development (OECD) is concerned, Africa is getting the world’s maximum total amount of foreign development support which comprises of almost 27. 19 billion US dollars. 6] It would be a phenomenon if the African agricultural sector were to be left intact by the recession, especially those African countries that have agriculture as the backbone of their economy . Agriculture dependent economies such as the Ethiopian, Burundian and Malian saw a short fall in their agricultural products, leading to the reduction of their export revenues. [7] In light of this, many countries failed to reach their prescribed goals for production and exportation. As a result, farmers have been left helpless and mostly unemployed as the price of buying fertilizers, agricultural machinery and seeds increased drastically.This has led to a decrease in cultivation. Consequently, the less crops produced trigger an increase in food prices. The economic turmoil made the farmers helpless as they were unable to purchase seeds and fertilizers. This has lead to a decrease in cultivation and the export of products, hence worsening the impact on the food crisis. In this light, African governments have experienced a short fall in revenue which has threatened food security in Africa. To make matters worse, food aids to Africa have been considerably lower, therefore, the number of people facing food insecurity has increased tremendously.There is no doubt that the mining sector in many African countries was affected by the recession, considering the fact that Africa is rich in te rms of mineral wealth. Botswana has an open economy which has the mining sector as its backbone. However, the global recession saw a decline in export demand and a reduction in prices of minerals such as nickel, diamonds as well as copper. As a result of this, there was a reduction in public revenue and company sales which lead to massive unemployment. The immediate result of this massive unemployment meant lower household expenditure and savings.On the whole, Botswana’s mining sector is characterized by production cuts, staff retrenchment and lengthy plant shutdowns. STOPPED While there is unemployment one should take into account the immediate effect of unemployment which is poverty. In Africa, women bear most of the economic hardships as they are in many instances widowed as a result of the HIV and AIDS pandemic and immediately take on the role of the bread winner. Regardless of this, due to the recession women are the first to lose their jobs, because men are regarded as the ‘legitimate’ jobholders. 8] Alas, many are left at a dead end, facing an increase in food prices coupled with unemployment. This usually leads to an increase in the cases of malnourished individuals and the most vulnerable being children. Having said this, it is important to note that some parts of Africa are less pronounced than others depending on the strength of the economy. In fact, because of women’s unequal position in the household and the workplace, girls are also more likely to be taken out of school first or not given medical treatment in order to cut down on family costs.In the same vein, the health sector which was already in a state of commotion prior to the recession has been further weakened. The health sector is reliant on aid from foreign organisations as well as financial packages. This aid can be in the form of money, drugs, machinery, medical and surgical implements and sundries and toiletries. The World Health Organisation and the Oversea s Development Association are the main donors. Prior to the crisis, the African health sector had developed considerably although it faced many challenges but as the crisis worsened so did the condition of the sector.This can be illustrated by a cut down of all financial and social programmes, reduction in investment in the health sector as well as the decrease in supply and delivery of health care and other social services. The Overseas Development Association is the main organisation that deals with Aids victims by funding their medical needs. Thus a cut in this aid increases the rate of mortalities as well as the rate at which the pandemic spreads. From the onset of the crisis, African stock markets have been vulnerable and hence suffered severely.In Egypt and Nigeria the declines were reported to be 67% whilst many other African countries faced similar situations, these countries include Mauritius, Zambia, Kenya and Botswana. [9]In truth, most immediate effects of a crippled sto ck market are threats to the banking sector. Bearing this in mind, many banks have primarily felt the impacts of the economic turmoil. Surprisingly, African countries have suffered more losses than developed countries. Firstly, the balance sheet of banks was severely bruised. This takes place when borrowers are unable to meet their debt obligations due to a weakened economy and low income.Prior to the recession, well performing banks could afford to issue out loans, however, due to the financial crisis they faced because of the recession these prominent banks became bankrupt. Besides this, the IMF reports that the flow in nonperforming loans has caused huge profit losses in the banking sector. One can agree that the global recession was coupled with devastating impacts on society as a whole. However, the aftermath of the recession has paved way for economic strategies to prepare us for future crises. Whilst the effects of the recession subside there has been a massive decline in glo bal food and energy prices.Moreover, there has been stabilization in this regard which has come as blessing for countries such as Botswana and South Africa this can be seen by an affordable and stabilised level of food prices and energy. With regards to unemployment the South African government created 500,000 ‘job opportunities in 2010 mainly through a public-works programme which was also done in preparation for the 2010 FIFA World Cup in South Africa. Furthermore, the government has set a target of 4 million new jobs by 2014. The government insists it will create ‘decent work’, even if hese jobs are only temporary as part and parcel of the Expanded Public Works Programme. However the government has reassured the public that these jobs are just a stepping stone for what is to come and a bridge to pave way for permanent, rights based employment. Additionally African governments namely Botswana, Namibia, Tanzania and South Africa have embarked on programmes such a s negotiating a framework for a unified response by business, government and trade unions, with an emphasis on avoiding, where possible, retrenchments. [10] There has also been a reduction of interest rates.On the issue of interest rates, as a response to the financial crisis most of the African countries have taken actions to reduce their interest rates significantly since the very beginning of the crisis in the continent. In countries like Botswana and Egypt, central banks have made a decrease by 50 basis points. In Nigeria the interest rate was 10. 25% prior to the crisis but the central bank of Nigeria has reduced the rate to 9. 25% in response to the crisis. Many of the other countries include Namibia, South Africa, Swaziland and Tunisia also reduced interest rates.Contrary to this observation the Democratic republic of Congo is the only country that has not complied with strategy. Instead, Congolese banks have actually increased their interest rates. In South Africa the govern ment has taken advantage of the situation by initiating policies and programmes which have reduced the negative effect of the crisis on child poverty and large scale poverty. These programmes will also provide emergency relief to households in distress in this regard although poverty is still problematic, many African countries have taken up social grants, most notably the child-support grant, as well as old-age pensions.Approximately 13 million south Africans benefit from the social grant system, also South Africa ranks among the as one of the most extensive in middle-income countries. [11] Similarly, Botswana and Namibia have taken up various grants with the main aim of fighting against the deepening of poverty and distress for the foreseeable future. Many banks went bankrupt during the recession and in order to prevent a similar scenario some African countries have taken several measures to ensure that there is a constant flow of credit in banks.This has been done by increasing t he liquidity to banks and other financial firms in countries like Togo, Niger, Mali and Benin to name but a few. [12] Other countries have resorted to financial packages and new credit facilities to mobilize cash flow. This has been done in Tunisia, Cameroon and Liberia. International trade has played a vital role in the economic growth of African countries as a source of external revenue. So it is thus of adequate importance to solidify and pay attention to Africa’s relationship with the emerging economies of the world which is a handy and important business strategy.This helps Africa to find new markets to advertise and sell African commodities, over and above this it is a strategic way to accelerate export revenue mainly for the oil and other primary commodity exporting countries. On the whole it is encouraged to maintain strong ties with countries such as India and China in order to create opportunities in international market and to bring capital into Africa. As a result of the crisis a greater effort has been put to promote women’s equality and many donors have ensure that women’s voices are heard in high level discussions, conferences and forums, namely the G20 and G8 meetings.Furthermore aid has been increased significantly and an adequate amount t has been directed to cater for women and to support women’s empowerment programmes. Generally there has been an increase in organisations that strive for a world where women are equal, secure, respected and proud. Womankind works together with women’s organisations around the world to reduce violence against women, and to ensure women actively participate in society and ensure that their sole purpose of fighting for women’s rights is upheld. As a final remark, Africa has suffered severe impacts as a result of the recession, but will recover quite soon.Even if the general impact on exports was severe, it was not evenly distributed among sectors, regions and types of e nterprise. With the help of the United Nations and many other donors and organisation Africa is at the brink of recovery. Additionally, Africa is in an advantageous position considering its numerous mineral wealth, hence we should rely on these commodities to safeguard our future. Considering the fact that the crisis abruptly affected trade African countries should implement strategies to enhance the demand of their products and to find more markets.Thus it is important to maintain close ties with international trade partners in order to have a constant flow of capital. I urge governments most notably the Zimbabwean government to to actively participate in economic activities and capital generating schemes, which Increase agricultural productivity which in turn raise output and lower food prices, hence reduce inflationary pressures and the demand for imports. Secondly, these governments should also carry out further research to prevent future crises or better preparation for future crises.This research should tackle the areas most affected by the recession such as employment, social welfare support, the health, agricultural, mining and tourism sectors and social prevention for vulnerable groups such as farmers, women, children and the labour force in general. Above all, I strongly feel that aid, funds and relief packages are not given to the appropriate people. Realistically speaking many government officials abuse their privileges and sell these packages for their own benefit, thus there needs to be a strict policy that ensures that these packages are readily available for the needy.From this research, I have concluded that in order for Africa to overcome the impacts of the recession, global strategies are a necessity in order to preserve the foundations of growth and wealth in Africa. END NOTES: [1] R. Triffin, The International Accounts of the United States and their Impact upon the Rest of the World, La Banque Internationale de Luxembourg, Luxembourg, 1985 ,pp. 12-30 [2] R. J. Shiller, The economy and why it matters for global capitalism, Princeton University Press, New Jersey, 2010, pp. 17-51. [3] S. A.Madujibeya, â€Å"Oil and Nigeria's Economic Development†, African affairs, Vol. 75, No. 300, Massachusetts Amherst, Massachusetts,1976, pp. 284-316. [4] M. T. Hadjimichael, â€Å"Growth in Sub- Saharan Africa,† IMF Staff Papers, Vol. 43, Zimbabwe, 2009, pp. 605–633. [5] R. Triffin, The International Accounts of the United States and their Impact upon the Rest of the World, La Banque Internationale de Luxembourg, Luxembourg, 1985,pp. 28-43. [6] Ibid [7] S. Seguino, The Global Crisis, Its Gender Implications and Policy Responses, Burlington, Vermont, 2009, pp. 1-25 [8] R. A.Posner, A Failure of Capitalism: The Crisis of ’08 and the Descent into Depression, Harvard University Press, Cambridge, 2009, pp. 16-28. [9] S. A. Madujibeya, opcit, pp. 317-321 [10] D. Sahn, Adjusting to Policy Failure in African Economi es, Cornell University, New York, 2010, pp. 3-19. [11] Ibid [12]Ibid, pp. 27-37. BIBLIOGRAPHY: M. T. Hadjimichael, â€Å"Growth in Sub- Saharan Africa,† IMF Staff Papers, Vol. 43, Zimbabwe,2009, pp. 605–633. S. A. Madujibeya , â€Å"Oil and Nigeria's Economic Development†, African affairs, Vol. 75, No. 300, Massachusetts Amherst, Massachusetts,1976. R. A.Posner, A Failure of Capitalism: The Crisis of ’08 and the Descent into Depression, Harvard University Press, Cambridge, 2009. D. Sahn, Adjusting to Policy Failure in African Economies, Cornell University, New York, 2010. S. Seguino, The Global Crisis, Its Gender Implications and Policy Responses, Burlington, Vermont, 2009. R. J. Shiller, The economy and why it matters for global capitalism, Princeton University Press, New Jersey, 2010. R. Triffin, The International Accounts of the United States and their Impact upon the Rest of the World, La Banque Internationale de Luxembourg, Luxembourg, 1985.

Nestle – Report

Abstract This report had the purpose of obtain the most accurate marketing strategy for the case study of Nestle In 2008 to compete and growth In the market place. The analysis of this work showed different frameworks that helped to understand clearly the market context for this company. In the first place, the PEST analysis showed how the external factors affect the food and beverage Industry. At the same time, to identify the main environmental issues that this industry has been facing was used SOOT analysis. Additionally, the Porter Five Forces were used to comprehend the impetigo's intensity and the global industry profitability.Afterwards, the model of Value Chain Analysis gave to this study the important facts to conclude the strategy options for this case, understanding deeply the different values of the organization that Nestle has as a company. At the end, the Annoys Matrix opened a door to formulate the best strategy option proposed for this firm. This report conclude that a realist renovation of their line products and new strategic acquisitions on a new industry should be the best way for Nestle to growth In the market and at the same mime malignant Its position as the largest food and beverage company In the world.Appendix 21 14. 1. Introduction Nowadays It Is not essay for companies to malignant a high position In market shares. When it comes to companies with many years of experience and high yields in the the same time, there are many external factors that influence in customers behaviors and needs. However, companies do not have power to change those external problems but they can change themselves. It is important that companies see what happened in the past to predict the future; the history of any corporation is needed to survive in this competitor world.This report will analyses and evaluate the case of Nestle in 2008, giving the definitions of marketing strategies applied to this company which are the base of success in any corporation. Mo reover, this work will be define the industries and markets in which Nestle compete, the structure and dynamic of these markets, the critical success factors of competing in this field, how Nestle differentiate itself from other competitors, resources, competences and capabilities. Another important point that will be mentioned is the major macro and micro environmental strategic marketing issues that Nestle faced in terms of opportunities or threats.Additionally, it will be evaluated the most appropriate way for Nestle to compete in its market place, taking into account the strategies that they already have implemented. To summarize, this report will be recommend the most accurate strategy for Nestle to continue growing in a long term period, as it has done so far. It will be given different alternatives to reach all the expectations of customers and maintain potential innovation spirit in this competitive and globalizes world. Definitions of strategyIn the field of Marketing Strat egy the concept of the term strategy vary depending on different points of view and it has been changing over the time. There are many ways to define this word which help marketers to understand this useful but abstract concept. The definition of â€Å"strategy' started from military to business languages. Bellow will be a summary of the key concepts of strategy known until now: BE Lidded Hart concept (1954) This concept is based in military terms after the World War II.The definition cited by Lidded is, â€Å"Strategy is the art of distributing and plying military means to fulfill the ends of policy' (Nichols, 2006). George Steiner concept (1980) This professor of management said that the term strategy comes from the acts that companies do to confront any ability of competitors in the way. According to Nichols (2006), Steiner also proposes some points to define strategy in terms of business: * Strategy is that which top management does that is of great importance to the organizat ion. * Strategy refers to basic directional decisions, that is, to purposes and missions. Strategy consists of the important actions necessary to realize these directions. Strategy answers the question: What should the organization be doing? * Strategy answers the question: What are the ends we seek and how should we achieve them? Henry Integers concept (1994) The concept given for Integers is based in the different ways of companies use this definition. Strategy appears in the process period and then is determinate the plan definition of strategy are: * Strategy is a plan, a â€Å"how,† a means of getting from here to there. Strategy is a pattern in actions over time; for example, a company that regularly markets very expensive products is using a â€Å"high end† strategy. Strategy is position; that is, it reflects decisions to offer particular products or services in particular markets. * Strategy is perspective, that is, vision and direction. According to Integers, Ashtrays and Lempel (2005) strategy as a plan is a ploy as well. That quote completes the 5 As for strategy definition.Kenneth Andrews concept (1971) â€Å"Corporate strategy is the pattern [italics added] of decisions in a company that determines and reveals its objectives, purposes, or goals, produces the principal policies and plans for achieving those goals, and defines the range of business the company is to pursue, the kind of economic and human organization it is or intends to be, and the nature of the economic and non-economic contribution it intends to make to its shareholders, employees, customers, and communities. (up. 18-19). † (Nichols, 2006).

Application of Critical Thinking to Business Analysis Essay

Critical thinking is the basis of business analysis. It involves a force of habit, which determines the quality decision that the business analyst makes. Critical thinking is what enables businesspersons to think through challenges and situations. Because of this, critical thinking is vital element that should be refined, nurtured and actively implemented in every business analysis and decision making process. For the analysts to make decisions with the greatest outcome they should apply critical thinking since it involves rational reasoning and reflective thinking. It enables them to put every aspects of the decision into consideration in terms of the pros and cons of every option to be taken. Critical thinking initiates opportunities through exhaustive analysis thus leading to making well-informed decisions. It helps manager avoid the inconvenience of learning through experience. It assists in planning effectively while putting everything into consideration. It helps the administra tors save on costs by mitigating on mistakes that could cost the company to incur extra costs. Critical thinking is important in business analysis because it involves assessing, reflecting, planning and making right decisions while paying attention to details (Nosich, 2012). Critical Thinking in the Context of Business Analysis In order for the efficient implementation of business, it is important to understand the meaning of business analysis. Business analysis therefore refers to a set of techniques and tasks implemented by the various stakeholders. The main purpose of the implementation is to understand the operations, policies and structure of a particular business entity. It also involves the recommendation of various solutions in order for the organization to achieve various goals that it has set forth to achieve. Business analysis therefore entails the understanding of the ways in which various organizations carry out their operations. Production of products defines the capabilities of the organization. These products entail specific goods and services offered in the present market within which the organization is conducting its operations. External stakeholders also play a major role in the product distribution chain of a particular product. For a successful business to prosper, various key steps ne ed to be implemented for a. These strategies require a critical analysis, which will involve the applications of virus concepts of critical thinking (Smith, 2003). In any organization, it becomes very important to define the goals of the organization. The organizational goals relate to the specific objectives set forth. These goals help in the achievement of the goals designed. It also becomes necessary for the team in charge of making various policies and decisions to focus on the various actions that the organization is going to adopt so that it can achieve its set targets and objectives. Finally, it is important also to define how various external entities to the business will interact with each other. For instance, in this particular case, stakeholders and organizational units outside and within the organization will require definition and the mode of interaction defined. Business analysis aids in the understanding of an organization’s current state. It also provides a platform to identify future prospects of business needs that may arise. However, in most cases, the principle aim of conducting business analysis is to validate and pr ovide business solutions that conform to the objectives, goals and needs of a particular entity. The synthesis and analysis of information provided by numerous number of stakeholders tops the priority list. The various business analysts then analyze it. These particular stakeholders include customers, executives, IT professionals and staff. Critical thinking is therefore involved in various process of business analysis. A business analyst has the responsibility of obtaining actual needs from the various stakeholders. The particular process involves an actual distinction with the various desires expressed by particular stakeholders. The business analyst also facilitates the communication and interaction between various units in the business. It therefore means that through critical thinking, a business analyst is able to foster communication and interaction between various business units. It becomes possible through the alignment of various business unit needs. In the business process, the process lightens by the integration of information technology. It serves as an interpreter and a translator between the groups (Smith, 2003). The competitive nature of any business entity originates from the various policies that exist in order to counter competition from various companies. Competition arises due to various factors. Some of these factors include a company offering complementary and supplementary goods, similar to their rivals. In this particular scenario, there is always competition for the market share. Elimination of one firm in this competition may occur if there is no application of critical thinking to devise survival ways to counter such a move. Price becomes a determinant factor when it comes to competition between two rival industries competing for the same market share. Another reason as to why competition arises is the difference in pricing of similar commodities. A rational consumer is always attracted to a firm, which is selling cheaper than others are. Price is a significant determinant of product choice. Majority of the rational consumers exercise the power of choice when products occur in a wide range (Smith, 2003). Majority of the business operations operate based on the types of decisions made across all the levels of production. Critical thinking forms the baseline upon which various policies formed and implemented. The success of a business entity becomes relative to a number of factors that help it be at a competitive level with other businesses in the same industry of operation and service. Several elements exist that become fundamental when implementing critical thinking to help the organization. Critical thinking involves the analysis of the current business operations, procedures and policies. The mastery of this particular process makes it possible for the business analyst to be familiar with the operations that are taking place. It also involves the identification of errors that may have occurred which led to the company not achieving its dreams. Moreover, apart from analyzing the internal factors of the firm that affect its operation, business analysis also focuses on the external en vironment that may affect the operations of a certain business entity. Inward communication strategies, pricing policies, production processes, marketing and branding are internal factors that affect the business entity (Smith, 2003). An analysis of the external environment that includes the political environment, competitors, the economy of a particular country concerning inflation and budget allocation also play a very important role. These may influence the pricing strategy pf a particular company. The political environment also determines the way in which the company interacts with various other companies overseas in terms of the taxes charged on imports and exports. It therefore narrows down to the fact that critical thinking contributes towards the existence of majority of the industries and companies in the world. The study of the market structures to determine the appropriate time for trade is what distinguishes a successful company from a failing company. The ability to fore see a coming calamity and danger and be able to efficiently plan is what critical thinking entails. In the end, it saves the company many resources since evasion of eminent dangers occurs through future prediction. Critical thinking i s an attribute of various business analysts. The presence of these personnel in an organization is important. They constitute the think tank of any industry (Smith, 2003). The application of critical thinking in a business environment happens through all the levels of management. At the strategic level, critical thinking may focus on issues that affect the company in general. At the operational level, critical thinking entails the unique creativity that may exist if a company decides to adopt product differentiation or diversification to have a range of commodities in the market. By giving a rational consumer a wide pool to select from, the company is able to face out different companies, which are providing supplementary products. It is able to wholesome reap from the market all the customers who have great trust in the product that they offer. Critical thinking is always neglected because majority of the companies only react when faced with certain risks. For instance, if the profit margins of a company begin to decline considerably, the management of the company becomes alarmed. At this time, they invest in quick decisions that aim at the company re generating various incomes. It is always a very poor form of responding and managing o frisks. In an ideal situation, the company is supposed to preview their previous strategies and look for elements that contributed to the decline in the revenue gained. After the identification of the various stated problems, an in depth analysis is to be conducted to determine the facts. Critical thinking plays a major part when it comes to the redefinition of the various goals and objectives. These elements are important to ensure a competitive state of the organization (Nosich, 2012). The success of a company is, therefore, dependent on the various decisions made from all the levels of production to management. The careful analysis of various problems that a company faces undergoes analysis and various solutions proposed in an efficient way as opposed to a quick manner. Using this channel, a company is able to get maximum returns from the various activities that it conducts. There are increased chances of lack of fear when it comes to the anticipation of problems. Critical thinking is the center of an organization’s success. The ideas of inventions and product creation derived from a panel composed of individuals explain the importance of critical thinking. Those who think critically through particular scenarios provide a solution that earns the organization maximum massive profits. The strategies in all the organizational units implemented are a success because of the decisions made by the members of a particular panel. Marketing, sales and even production departments all require various skills in critical thinking to produce products that are highly profitable to the organizational entity as a whole. This document therefore recognizes the importance of critical thinking when it comes to the analysis of different business operations to achieve various goals and objectives (Smith, 2003). Application Business analysts use critical thinking to make effective and efficient long term and short term plans for the business organizations. In order for the business managers to make decisions and plans for the business they have to think critically in terms of their objectives and goals in relation to the resources a business firm has. Managers have to think critically so that they can predict the possible threats that the business might face and be able to formulate their respective solution in time. The managers have to ensure that the challenges find the firm adequately prepared. For this to happen there has to be a lot of thinking in the planning process. The administrators have to consider every aspect of their plans in order to come up with short term and long term plans. Critical thinking is what ensures that required measures have been put in place to make a firm prepared for the challenges. Critical thinking helps the administrators to come up with the time frames for the long t erm and short term plans. Critical thinking makes the plans achievable and it helps in the identification of plans and investments that are not viable (Smith, 2003). Business analysts in conforming valid requirements also apply critical thinking. It enables the business analysts and managers to pay attention to details and not the face value or what they hear. Critical thinking enables the administrators to weigh up the evidence produced by stakeholders with relation to the challenges and consequences before making decisions or recommendations. It enables the manager to be future oriented since they have to consider the impact of the decisions or options they take. They have to consider the deadline, available resources and the possible outcome of the requirement. Through critical thinking, administrators go for what the business entity really needs and not what they want. This aids in prevention of unnecessary costs that would have been caused by purchasing excess requirements. It also helps businesses in avoiding wastes (Nosich, 2012). Critical thinking is applied in risk prediction, prevention and mitigation. In planning for the likely risks and hazards that a firm might face the analysts and administrators have to think carefully. They have to think critically to identify possible risks and formulate respective measures and solutions, which can be used to prevent them. Critical thinking in such situation is aided by acquisition of information from other similar firms that have existed in the market for longer periods. Critical thinking enables administrators to implement safety measures in the firms such as emergency doors, exists, fire extinguishers, gloves and aprons. It also enables business firms to determine the right time to enroll in the markets and the right time to withdraw. It enables companies to avoid financial risks, as managers are able to plan and make the right decision (Smith, 2003). It is also applied by the busyness analysts in the seeking solutions of business challenges. Businesses face challenges from time to time. The challenges range from financial, human resource conflicts with other firms and so on. To overcome these tough times the business managers have to think critically and formulate long lasting solutions that will save the companies fate. Conflicts are normal in the Business administration but they require rational thinking and decisions so that they can be overcome. Even the internal conflicts in the firms require the administrator to think critically about the situation and make fair decision or advice to the conflicting parties. The administrators have to listen and think first before passing judgment. This will enable him to avoid prejudice or bias in the decision made (Nosich, 2012). The leaders at the same time have to think and come up with policies that may hinder external and internal conflicts in the firm. Critical thinking is applied in the shortening life cycles of businesses projects. Through it managers are able to determine the required time frame and ensure that the projects move as per the stipulated time. Managers are also able to avoid unnecessary events and occurrences, which have the possibility of delaying the business projects. Critical thinking ensures advance planning and as a result, there is order in the running of the firms. The advance planning ensures everything moves as per the scheduled time and this helps in saving time and shortening the life cycle of the projects as only, the necessary cycles are implemented (Smith, 2003). Critical thinking is also applied in beating competition from similar firms. In order for firms to have competitive advantages the administrators and analysts have to go an extra mile of being creative and innovative. They have to do the same things extra ordinarily right or they have to come up with new ideas and products that will give them an advantage over their competitors. To do this successful they need to brainstorm and think critically. Managers have to do research and be able to predict the future of the company. This will enable them come up with various ideas and policies that will boost their performance. They have to come up with new marketing strategies and new modes of operations. They have to target more customers and become inventors. To implement this, management has to use critical thinking. They have to consider the weaknesses of their competitors and take advantage of them (Smith, 2003). Profit maximization and loss minimization can also be enhanced by application of critical thinking. For profit maximization, the business administrators have to be inventors and innovators. They should come up with new ideas and policies that will make their products and services unique from their counterparts. This requires high level of thinking and that is when critical thinking comes in handy (Nosich, 2012). Critical thinking helps in making the right financial decisions hence the company is able to maintain its profits. Critical thinking enables managers to come up with plans that minimize losses and wastage. They help in shortening duration of projects and in the long run increase productivity. An increase in productivity in turn increases the profits. Business administrators also apply critical thinking in making decisions to do with employment. The management has to determine the required number of employees to be hired and define their specific roles and duties. Critical thinking helps in determining the required number of employees that will provide the most outcomes. Critical thinking assists the manager in employing the employees with the required skills for specific positions. The manager should also know when to scale down and when to add the number of employees. The manager has to think critically of the kind of skill required in the organization before employing a person. Critical thinking helps manager to form the right workforce required for optimum production (Smith, 2003). The business analysts apply critical thinking in the making of right investment policies and decisions. Before making the right decisions on where to invest, analysts have to think through the possible options and take the option that is most viable and profitable. Critical thinking in this case will help the administrators consider the pros and cons of every investment option. This enables them to make the most informed decision by taking the best option. Critical thinking also helps administrators in assessing and evaluating the progress and position of the firm. It is applied to help managers determine if they are on the right track. Managers are able to determine if they are operating on a loss or profit through critical thinking. They have to think through and determine if the projects are moving as per the stipulated plans and goals. Do determine right progress the managers have to carry out various research and consultation in comparison with data at hand (Nosich, 2012). Discussion and Conclusion Various scenarios in the business process have required an individual to apply critical thinking in various business processes. The result of the decisions made in the various panels has resulted into massive goals and targets achieved by the said industries. Companies have been able to rise from various falls while some have succumbed to defeat. New entrants have entered into the marked and dominated the events will the already established monopolistic firms faced out because of this. It is therefore important that a company recognizes the importance of such a key process and invests I it. The using of appropriate skilled experts also goes a long well in helping the industry achieve its goals and objectives. The existence and sustainability of a given organization in the market is highly influenced by the various policies they adopt. Companies have marred up to produce complementary and supplementary products while some faced out. It therefore becomes important that the company look into the various strategies with an in-depth eye with an aim to creating various opportunities and channels for growth and profitability (Nosich, 2012). Business analysis through critical thinking becomes an effective way of determining the organization’s strengths and weaknesses. The implementation of SWOT analysis in a business environment will be effective upon incorporation with critical thinking. The identification of Strengths, Weaknesses, Opportunities and Time factors require a vision that is not velar by the other firms competing in the same market. In conclusion, this paper finds critical thinking a very important element in the existence of a company in the ever dynamic and competitive business environment. It also views the basis of competition resulting from the difference in the decisions that various companies tackle one particular problem effectively. When companies operate from this basis, they are able to achieve more revenue and expand on their sales. Critical thinking has a direct relationship with the performance of a business. Several aspects in business analysis require the massive application of critica l thinking to provide solutions (Nosich, 2012). References Nosich, G. M. (2012). Learning to Think Things Through: A Guide to Critical Thinking Across the Curriculum, Boston, MA: Pearson Education. ISBN: 978-0-13-268359-3. Smith, G. F. (2003). Beyond critical thinking and decision making: Teaching business students how to think.  Journal of Management Education,  27(1), 24-51. Source document

MBA Corporate Governance And Responsibility Essay

Why did it take 10 years to bring Harshad Mehta to justice? What weaknesses in the financial markets allowed such abuse to succeed? Harshad Mehta’s scam was one which involved huge magnitudes, which is why it probably came into light in the first place.[1] Scams of smaller magnitude are happening almost everyday at the Bombay Stock Exchange but not coming to light. There are many reasons for this. Some of the major reasons are briefly discussed below. The Indian businesses have traditionally being family owned. Owing to concentration of money in a few hands, most people have concentrated on survival and security due to which the risking loving entrepreneurial skill has not developed much. Being family owned businesses, a lot of insider and sensitive information is often available to the owners and their relatives even though the company is technically a separate legal entity. Given this insider information and the relatively weak legal machinery, it is easy for the insiders to manipulate prices of stocks by large buying or selling. The reason outlined above also gives rise to the herd mentality i.e. if bulk activity is seen on a stock on a particular day in a particular reaction; people seem to trust it quickly believing that some one with insider and reliable information is acting upon it. This is what helped Harshad Mehta in pulling off the scam. Further, there are hardly any checks and balances on the end use of loans given by banks and other financial institutions. They seem to be satisfied by the reputation of the borrower and once they are convinced that he can return the money, the end use of the same whether for speculation or any other activity is hardly looked into. It took as long as ten years to bring Harshad Mehta to justice due to the combination of many systemic failures and procedural lacuna. Firstly, it is difficult to pin point in such a huge market as to where the first default or breach of law took place. Further, there are many procedural approvals that must be taken before the regulator can take any concrete action. The country’s civil procedure process is quite slow too, with many appeals available before an offender is finally convicted. Therefore, even high profile cases such as these often take several years before finally being disposed off. How can ethics in the boardroom be monitored and controlled? Ethics, in the first place, is a rather complicated and complex issue. There is no straightjacket formula as different situations would demand different measures. In the boardroom, where money is at stake, and everyone has their own business to mind, it is probably even more difficult. This has been a subject of considerable debate, and there are certain measures which companies should generally apply, with specific variations in accordance with the particular situation at hand. Some of these general principles are briefly discussed below.[2]   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Firstly, there has to be strict avoidance of concentration of important powers and functions in a few hands. As can be seen from the Maxwell Affair of 1991, too many responsibilities in different areas of management are likely to be fatal to the company. Further, the delegation of power must not be absolute. Power corrupts, and absolute power corrupts absolutely. There should be checks and balances right upto the top level. At the top most level, where it is difficult to have checks and balances in a vertical hierarchy, the same should be had using a horizontal structure.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Strong ethical base and principles must come in from the top and trickle down to the bottom. It is important that these principles are insisted upon, no matter how bad a situation a company is in. They should be introduced as non-negotiable to every new employee who joins, so that when he climbs the ranks in the corporate ladder, he is equally insistent about such principles. Gradually, a strong ethical culture is built. Is there a discernible difference between Enron’s fraud and Madoff’s appeal to elite investors? There is quite a discernible difference between Enron’s fraud and Madoff’s appeal to elite investors.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Enron’s fraud was a clear case of lack of watchful auditing and poor accounting practices. The profits were terribly overstated and the accounts were shown to pose a rosy picture of the state of affairs of the company. The true state of affairs was not revealed to the shareholders and other stakeholders in the company. The auditors were cleverly deceived, and they too didn’t do any follow up action.[3]   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Madoff’s case is a much more complex one than Enron. Madoff’s case has largely been seen as one which could never be expected, and therefore no laws are in place to remedy such a situation. Unlike Enron’s case, which can be foreseen, Madoff’s case was completely unique and innovative. Enron’s case has been foreseen by the law makers, due to which many laws are in place to keep in check of the same. Firstly, there are accounting standards and conventions which must be adhered to by all companies. Second, all companies are statutorily required to get their accounts audited so as to doubly ensure that they reflect a true and fair view of the affairs of the company. Although it has been said in a landmark decision, that an auditor is a watchdog and not a bloodhound, it can be said that the auditors failed to do an upto-the mark job in Enron and hence the scandal.[4]   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   However, in complete contrast, Madoff’s case is so unexpected that there are no laws which effectively deal with such a situation. He used his reputation of being an expert at the Wall Street and a continued promise to offer secured and steady returns to swindle many high net worth individuals of millions of dollars. Such an exercise of personal confidence is difficult for the law to stop. Now, in retrospect, of course there are laws which mandate certain disclosures in case of any broker or person dealing on another’s behalf in the stock market. Further, there are investor awareness and know-your-rights campaigns by the regulator.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Thus, another importance difference between the two scandals which essentially flows from the main difference is the solutions that they demand are very different from each other. What steps would you take as an independent director on the board of a company where you had reason to believe that fraudulent or unethical activities were being carried out by the high-profile company leader? First of all, being an independent director, there is a great amount of responsibility on my shoulder to ensure that such policies are pushed for, which make it near to impossible for fraudulent or unethical activities to be carried out by any individual in the company. However, if this was to happen, there would be a series of measures I would attempt to take. Firstly, it would be important to get the whole Board of Directors, or as far as it may be practicable, into confidence so as to ensure that the top level management is not divided on such an important issue. Once this is done, it is important to have an internal conference with the suspected offender about his objectionable activities. It is important at this stage to consider all possible solutions to the problem, as open action against such a person should be the last resort, given that such information is particularly sensitive, and it would adversely affect the reputation of the company, if it were to get leaked. Therefore, it is also important that only so many people are made aware of such a situation as are required. It is essential that the matter not be lingered, and damage control be the top most priority.   Again, every possible option should be explored including plea bargaining and settlement through mediation or negotiation.[5] The suspected offender should also be taken into confidence that full disclosure would be in his best interests too. No threat or action should be immediately taken against him, as then he might attempt to conceal the substance of the matter, which would be eventually then take a long time to be fathomed. Any severe action contemplated should be taken only once the issue has been fully resolved. Finally, once the issue has been resolved, there should be a fall back to see why such an event happened, and what can the company do in future to prevent it. The offender should not be let off lightly, as this may go on to set a bad example. At the same time, the best interests of the company in the long run must be kept in mind. REFERENCES Anonymous, â€Å"Harshad Mehta: A Scandal to Remember† f. www.casestudy.co.in (Last Visited 25 July, 2010). Anonymous, â€Å"Key Biscayne Connection in Madoff Scandal†, Key Biscayne Times, 23 July, 2010. Cathy Thomas, â€Å"Behind the Enron Scandal†, TIME Magazine, June 2002. Kevin MacDonald, â€Å"Is the Madoff Scandal Problematic?†, Occidental Quarterly Online, July 2010. Stephanie Maier, â€Å"How global is good corporate governance?†, EIRIS Report, Aug 2005. [1] Anonymous, â€Å"Harshad Mehta: A Scandal to Remember† c.f. www.casestudy.co.in (Last Visited 25 July, 2010). [2] Stephanie Maier, â€Å"How global is good corporate governance?†, EIRIS Report, Aug 2005. [3] Cathy Thomas, â€Å"Behind the Enron Scandal†, TIME Magazine, June 2002. [4] Kevin MacDonald, â€Å"Is the Madoff Scandal Problematic?†, Occidental Quarterly Online, July 2010. [5] Anonymous, â€Å"Key Biscayne Connection in Madoff Scandal†, Key Biscayne Times, 23 July, 2010.