Implementation of Basel II in Europe Thesis Example | Topics and Well Written Essays - 1500 words

Implementation of Basel II in Europe - Thesis Example The basic aim of this approach is to ensure that the banks and financial institutions must maintain financial soundness and retain the consumer confidence in order to ensure the stability of the financial system and protect the interests of the deposit holders. With these perspectives in mind, Bank of International Settlement formed a Basel Committee on Banking Supervision in 1974 to provide a comprehensive forum for dealing with banking matters of such magnitude. The Basel Committee is made up of senior officials responsible for banking supervision or financial stability issues in central banks and other authorities in charge of the prudential supervision of banking businesses. Members of the Basel Committee come from Belgium, Canada, France, Germany, Italy, Japan, Luxembourg, the Netherlands, Spain, Sweden, Switzerland, the UK and the US. This essay will discuss the implementation process of Basel II in Europe besides discussing some of the challenges and aspects that may raise tensions while implementing the accord in Europe. However, before exploring the issue of the implementation of the BASEL II accord, we will be discussing some of the key issues and points raised by BASEL II in order to implement it in true spirit. Before discussing the BASEL II and its implementation in Europe, it is necessary that a view must be taken in order to provide a historical account of the process of BASEL II implementation in Europe and rest of the world. Bank of international Settlements was established in Basel, Switzerland in 1930 and is considered as the world’s oldest international financial institution. It remains the principal center of international central bank corporations around the world. The BIS was formed as a result of the treaty of Versailles which ended the First World War and BIS was basically established for repatriation

Performance Appraisal Essay Example | Topics and Well Written Essays - 500 words

Performance Appraisal - Essay Example During the process of appraisal, each employee performance is reviewed against the objectives and standards for the financial year as agreed at the previous appraisal meeting. It is very important for career and succession planning purposes for the employees, jobs that are crucial and for the entire organisation. Despite the fact that performance appraisal is mainly used for motivation of employees, it has a number of purposes which include: development of positive attitude towards work, behavior development, communication and alignment of employees and organization objectives and boosting the positive relationships between the employer and the employees (Grote 107). Each organization has its own performance appraisal system. This work would focus on the development of a performance appraisal system for the Verizon Wireless. As it would turn out later, the appraisal system depends on the kind and nature of the job being appraisal. Technical and complex jobs require more appraisals. In such cases, appraisal is mainly used to retain the employees. This paper would develop an appraisal system for a customer service post (Grote 111). Retail customer support representative is expected to handle the customers issues related to the company. Based on the performance, the retail customer support representative would be appraised in a number of ways. Following an excellent job, the company, through the human resource department would appreciate the work done by retail support representative by offering one or combination of the following items or rewards. The person would be offered an award-winning training and competitive salary if he or she displayed high level of quality in key areas such as time consciousness, communication and presentation skills. The nature of appraisal would depend on the area(s) perfectly done (Grote 113). The employee who would display perfection in key areas such as time management or

Palliative and Hospice for End of Life Care Essay Example for Free

Palliative and Hospice for End of Life Care Essay The notion of death and the process of dying are often experienced as tragedies, especially in the western culture. Thus, the medical model of care performed in our western culture includes life-saving measures and curative treatments. However, there may be a time in a person’s life when a cure may no longer be an option. That is the time when palliative or hospice care can step in to afford the patient and the family the opportunity to maximize the remaining time spent together. This paper will compare and contrast palliative care with the hospice model. In addition, end-of-life care related to physical well-being, psychological well-being, social well-being, and spiritual well-being will be addressed based on my experience as a student nurse with Hospice of San Joaquin. Finally, the views of end-of-life care will be discussed as it relates to the hospice model. Palliative care and hospice care share a common thread. They are both models of care that take a holistic and individualized approach to anticipate and alleviate the symptoms and suffering that arise from chronic and terminal illnesses (Witt Sherman, D. , Cheon, J. , 2012). They both encompass the patient and family as the center of care and provide comprehensive assessments and comfort measures to patients with terminal illnesses. The care continues past the death of the patient and can continue into the bereavement period for family. Hospice will continue to support the bereaved family up to one year past the death of the patient (Hospice of San Joaquin, 2010). Both models utilize an interdisciplinary approach to care with team members that include physicians, nurses, social workers, spiritual members, massage therapists, and home health aids and others. Palliative care can be utilized during any time during the course of an illness and disease process. The cost of cure can be extensive and both palliative and hospice care limit medical interventions that can significantly increase healthcare costs. Data substantiating improved quality of life for the patient and the families as well as improved coordination of care have been identified as valuable outcomes in both palliative and hospice care (Hospice of San Joaquin, 2010). Both models allow for services to be provided in the home, in extended care facilities, hospitals, and community home-based programs and outpatient clinics (Witt Sherman, D. , Cheon, J. , 2012). The differences between the programs are centered on the time the care is available. Palliative care is available during any point of the illness from time of diagnosis through the bereavement period for families. In addition, palliative care may be offered while life-prolonging treatments are being administered (Witt Sherman, D. Cheon, J. , 2012). Hospice care is available during the end of life and typically, but not always, takes place the last six months of the patient’s life. If the dying process exceeds six months, hospice care can be suspended and restarted when the patient’s life expectancy falls below six months (Hospice of San Joaquin, 2010). Hospice care may be offered in all settings previously mentioned, as well as hospice units and residential hospices (Witt Sherman, D. , Cheon, J. , 2012).

Unabashed Substance Abuse Analysis Society Essay

Unabashed Substance Abuse Analysis Society Essay Substance abuse is something that is very common in today s life. There are many substances that are called abused and the most common abused substances are the street drugs. The other abused substances include alcohol followed by medical and prescription pills. Anything and everything can be abused if consumed in excess and this can include medicines as well. Substance abuse is identified by unusual behavior and it is because of this that there is a restriction on the abuse of substances. There are two types of substance abuse and they are the normal, frivolous way of using substances without getting addicted to them, these people either stop the use of these substances or end up getting addicted to these substance abuse. The second type is the people who are addicted to these substances. Normally people think that they can get out of the addiction whenever they want and this is not something that happens. People end up getting so addicted that they feel they cannot survive without it. This is the stage where one loses complete control and is impossible for one to recover from this stage without outside help. Normally a person can gain control once in a while and this control keeps changing stance and there is a gyration between control and no control. This may go on for an infinite time unless the person accepts outside help. Substance abuse is something that is really dangerous and once addicted it is very difficult for that person to lead the normal life he/she has been once leading. The person starts experiencing a drift towards the negative aspect of life and it becomes difficult for the person to live life the easy way. This addiction can be overcome if the person is willing to accept help from others and this can help them regaining their happy life free of addiction. Substance Abuse Treatment An abused substance is one which is consumed in quantities exceeding the prescribed one. There are many abused substances such as drugs, alcohol etc. There are many people who are addicted to substance abuse and they are in need to be treated immediately. Substance abuse treatment is the treatment of a person addicted to substance abuse such that he can be relieved of this addiction. This treatment is normally provided in substance abuse facilities. If a person you know is addicted to any substance then putting that person into treatment in a substance abuse facility is probably the best option available. It s not an impossible task to make that person get relieved of his addiction and walk freely as a normal person. Also the task is not very easy. The person in treatment needs all the moral support that can be given and the person should be made to understand the importance of living a life free of addiction. Normally a person addicted feels that he/she should stay away from people and it is our responsibility that we take care of our beloved ones and make them feel that we care for them and make available all the facilities that is required to relieve them from the addiction. The time spent in a substance abuse facility is precious as the person coming out of it comes back as a normal human and leads life like they once did. Not many people feel confident about their recovery while some go in with a mindset of recovering from the addiction. Even after recovery many people have not felt it positive to walk back and lead a normal life owing to the time they spent during the addiction. The bottom-line is that treatment given to an addict results in two things. It either makes them or breaks them it is depending on how they take it and with what attitude they went into the facility that matters. Management Of Substance Abuse Addiction to substance abuse is something that has become a very common issue now days. Also there has been an increase in the number of treatment facilities that avail rehabilitation to people with this addiction. When a person is admitted into this facility there are many professionals who deal with these addicts talk to them on a personal basis to know how they came in contact with the substance. Where they into it on their own or where they influenced by some other. All this helps the professionals to understand the extent of addiction and the mindset the patient has regarding the treatment of the addiction. Individual treatment is something that has to be given to every drug addict and this is required because the level of addiction and the way they were introduced to this substance might change from one person to the other. Hence it is required that each person is individually spoken to and dialogue is made with the addict. This is done because the therapists have only this way to know more about them and thereby find a way to recover from this addiction. Also one cannot recover from addiction without a moral support from people close to him. Thus the staff attending the person needs to decide on who the visitors are going to be and the type of conversation they are going to make with the person. This is the most important phase as the person needs to gain self esteem and self belief that he/she will be able to recover from this addiction. There are addicts who understand their problem and feel the need to discuss their problem with a professional. It is to be kept in mind that these addicts need to have a good rapport with these therapists. It is only by a combined effort of the addict and the staff that they will be able to come out of this addiction. Symptoms Of Substance Abuse One of the most serious issues in today s world is substance abuse. People with substance abuse addiction not only harm themselves they also pose as a threat to people living close to them. The best way to ensure safety is to make sure that one is able to recognize the signs that indicate substance abuse. There are a few areas which one must look into keenly to find out about the substance abuse. Finding out irregularities in these fields might give us a greater chance in finding out whether the person is under the influence of substance abuse or not. The first thing that one must look into while investigating for substance abuse is the person s performance in doing tasks. The next thing to check is the person s behavior with people around him. There is variety of behavior changes that one can notice if a person is under influence. It can be a low morale, arguments with the co employees, lack of memory and other signs. All this might indicate that a person is under influence or is in a state of hangover. The next thing to be noted is the physical signs. These can mostly confirm a person s influence over a substance. The first thing is to note whether the person s eyes is bloodshot or watery. Then check whether the co ordination of his body parts synch and also look for co ordination in speech. Also if the person shows extreme fatigue or extreme stimulation then the person might be under influence of a substance. Also one should have a keen look into the person s belongings and should carefully check if the person is in possession of any materials such as syringe, needles, pipes, lighters, etc. if a person is using such items often then there is a higher probability that the person is addicted to a substance. Overcoming Substance Abuse Substance abuse is the consumption of a substance more than the prescribed amount. Normally consumption of substances can give a person a special kind of sensation. But due to greed for more one might end up consuming too much and get dependent on it. Normally people consume drugs and alcohol just to get away from emotional stress and at times end up going too far. Continuous consumption of these drugs and alcohol may lead to not only deterioration in health they also lead to decline in a person s social life. It may weaken relationship and may depreciate a person s respect in a community. It will lead to weakening of relationships with loved ones and let down rapport with colleagues. Taking into account these entire effects one must consider throwing away the addiction from such substances in order to maintain their health and ensure constant participation in social life. Thus one must plan and look for the type of treatments they are going to take in order to recover from this addiction. The most important step involved is detoxification which ensures good recovery. The dosage injected into the addict will not affect body organs as they get out of the body quickly. There are two types of detoxification. One is inpatient detoxification and the other is outpatient detoxification. The inpatient detoxification should only be done in a rehabilitation center or in a hospital. This is because the type of detoxification used varies and it requires special facilities to be administered into a person s body. This is generally recommended for people who have been addicted for a long time while the outpatient is for people with mild addiction but this also requires a professional who can administer is safely. While overcoming the addiction it is important that we have enough information on the withdrawal symptoms that one will face. Once they start kicking in one should know how to deal with them and what kind of remedies one should take in order to get out of the pain without getting into addiction again. Reasons For Substance Abuse Many people feel that people under substance abuse are social burdens and cause problems to social community. They feel the abusers are people who are morally weak, and are people who require assistance to lead a better social life. The problem is that most people chip away most of the facts and come to a conclusion just based on the behavior and attitude of the addict. They do not go into understanding the root of the problem and just give away conclusions based on what they see. But the real problem that has forced people to go into addiction may not be moral weakness it can be something else that has lead to them taking such a drastic decision. The most common reason that recovered people come up with is that they heard a rumor which claimed that consumption of a particular drug enhanced the self esteem of a person and make the person feel better by striking the person s pleasure sensors. The substances consumed provide different types of sensation and each varies with the substance. Moreover there are many people who choose the consumption of restricted substances with the hope that they will be able to come out of the stress and tension they have in their life. The stress caused could be due to emotional problems or due to workload. The abuse of substances due to stress related reasons is the most typical reason for a person becoming a habitual consumer of abused substances. In today s world as it has been seen many times teens and adolescents are the ones who have been affected most defenseless to these substances. Though this age group has been the most vulnerable the other people of this group are also equally susceptible. Substance abuse is not an age related problem it can affect any person of any age. Even people who are icons and are considered mentors by many are exposed to substance abuse as they face a lot of stress and related problems. How To Overcome Substance Abuse Substance abuse normally refers to the over dosage of a substance in comparison to the prescribed quantity. Mostly abuse is referred to drugs and other illegal products but many people forget that even products like Vicks inhaler can be used as a substance which can be abused. Also people can rely on alcohol and prescription drugs and this is also a dangerous addiction. For a very long time people who indulged in substance abuse were considered immoral beings and were placed away from the community. They were being made ashamed for their doing and this made them refrain from meeting any person even from their family. But today substance abuse is considered as a disease of the brain where it has become reliable for a particular substance and it cannot live without it. These substances also work in a similar manner and they also bond with the brain like a normal medicine and once the supply of these substances stop it becomes difficult to let go. These substances are responsible for producing certain neurotransmitters in the brain and this brings about a feeling of being drunk and feeling high. It can also make a person feel relaxed or feel highly excited. Because substances like this produce such neurotransmitters and produce certain emotions it becomes difficult for a person to live without these emotions and craves for more thereby creating an addiction for such substances. Fortunately for people who are addicted to such substances there are facilities which help them to get rid of these addictions. It is entirely dependent on a person whether he will come out of the facility a responsible person and the one who he really was. These facilities are available to anyone who wants to get rid of these addictions and if the person feels he can get rid of the addiction and co operates with the therapists in that facility then there is a great possibility that the person comes out a renewed person. Help With Substance Abuse Facilities Substance abuse facilities are centers which treat people with addiction to certain substances. Substance abuse generally means the overdose of certain substances than the prescribed amount. Too much consumption of a certain substance makes the body rely on it and it thereby becomes difficult for a person to get rid of the substance. Substance abuse facilities helps a person get rid of these addictions and has proved to be very effective when it comes to removing addictions such as this. There are many ways that a person can be treated for substance abuse and the most common method used is detoxification. Detoxification is the process of administering certain chemicals into the body which try and remove the substances and then get out of the body. The detoxification agent used is not addictive and it gets out of the body quickly. There are two ways in which a person can be detoxified the first is inpatient detoxification and the other is outpatient detoxification. Inpatient detoxification generally is done in hospitals and rehab centers and they require certain equipments to be administered. They are normally for people who have been addicts for a real long time. The outpatient detoxification is for mild addicts and it does not require equipments but the administration should be done by an experienced therapist. Also there is the twelve step method to recover form substance abuse. This task involves twelve tasks which a person must follow in order to recover from drug abuse. When a person follows the twelve steps the person learns that addiction is something he can control and one can recover from addiction only by abstaining from it. It teaches the addicts to learn from their previous mistakes and makes him correct his mistakes thereby making him a better person. It lets him boost his self confidence and self esteem and makes a person feel no different from a normal human being. Stages Of Substance Abuse Substance abuse involves the addiction of many types of substance which includes a list of legal and illegal drugs. Legal drugs such as alcohols and prescription pills which contain sedatives are consumed over the prescribed level. Depending on the substance consumed a person can face different health problems. These substances are generally consumed by people in order to gain different mood alteration according to their wish. The substances consumed provide different moods. Some substances makes a person feel relaxed while some other makes a person feel more excited. In addition to this these substances produce a disability in the person s brain that makes the brain generate signals that crave for more of the same substance. This gradually leads to addiction. Normally people feel that they can come over their addiction and feel that the will not consume it the next time. But every time they fall for the addiction .And ultimately achieve a state where they have no control over the addiction. There are five stages in which a substance abuse gradually develops into and addiction. The first stage is known as experimentation where people start thinking that trying the substance once might not lead them to addiction. Normally experimentation starts at a very early age and at this age people might not know the effects of these substances. There are also other reasons why a person starts using these substances and it could be stress and related problems. The next stage deals with the regular use of these substances as one is not able to resist the emotions that they trigger. It could either be a happy feeling or sad one. But people just don t want to lose it and start consuming it regularly. The next stage deals with the over use of the substance and this is the stage where a person gradually starts losing control. The final stage of the or nearly the final stage is dependence in which the person is not able to survive without the substances and the body starts demanding for more and more of that substance. The final and the ultimate stage is addiction which makes the person get addicted to the substance and thereby lose any resentment that the person has towards that substance. Effects Of Substance Abuse Indulging in the over consumption of a toxic drug or any other addictive substance is known as substance abuse. This phenomenon has become a common issue in many parts of the world. The drug consumed causes a nervous imbalance and causes the person consuming it to experience a change in mood and this mood changes based on the type of substance used. The effects of these substances are detrimental to ones health. It affects both the physical and mental aspects of a person s body. There are many substances that can be abused and they are illegal drugs such as marijuana, cocaine and legal drugs such as alcohol, prescription pills and many other drugs. The initial reason for a substance reason for a substance abuse might be for fun or it might be for gaining emotional pleasure due to personal problems. It can also be for the fact that there might be stress and related problems and hence to relax a person may indulge in substance abuse. When a person indulges in substance abuse he/she feels a deep desire to continue consuming it. And it thereby becomes an addiction. Substance abuse can change the behavior of a person. Can change his perception of judgments and can create imbalances in physical control over the body and speech. The negative impacts of substance abuse can be seen at substance abuse facilities. Here the addicts face the withdrawal effects and are seen suffering of pain and poor health. One can clearly see the trauma in these people and the desperation to get hold of that substance. The body becomes numb and at times the person goes into a depreciated condition. People tend to forget their aim in life and they forget reason for living. It can change a person s mood immediately and the person can become violent and harm the people trying to tend them. More About Substance Abuse Substance addiction is something that has become a major social issue in many parts of the world today. This is a problem that does not have an immediate solution. The practice of drug abuse has increased in today s world because the world has become busy in their own work and don t have the ample time required to look into these matters with utmost care. Young kids without any guidance from their parents have become easy targets for substance abuse. There are a lot of symptoms that can indicate substance abuse. There are cases when it may be difficult to predict, these cases are mostly seen when the person starts hiding things from people. Mostly there are people who want to avoid telling people about drug abuse within their families. It mostly involves parents who don t want people knowing about their kids involved in substance abuse and thereby don t take proper care of this alarming matter and do not even admit them into a rehab center. Substance abuse has a profound effect on a person s health and is not something that must be left unattended to. It has adverse effects on the physical and mental health of a person. It changes a person s behavior and affects the person s stance and also affects the way he speaks. Their perception of things changes and at times they have a sudden change in emotions and they get too violent and harmful. There are various treatment programs that are available to treat people addicted to substance abuse. The programs provided are either residential or are outpatient treatment. The treatment period normally ranges from about a month two three months. The time period mostly depends on the level of addiction. These treatment procedures mainly treat the inner man present in a person. It helps a person regain his very own self and helps him realize the mistakes he made and makes correct the mistake. Evaluating Substance Abuse Many people around the world have experienced a lot of substance abusing cases .to get out of substance abuse is not an easy thing for that professional counseling and medication is needed. But evaluation of substance is not as we think. It is a tedious process and normally doctors don t opt for this process they can find out about a person involving in substance abuse without any test s but just to satisfy people they go for this evaluation. But it is recommended that a person undergoes this test in case a person is being admitted to a rehab center. The test is common in every place and the test is called CAGE test. The test at first looks very easy and one feels that it is not very difficult. There are four questions that is involved during a CAGE test. The first question that is asked is whether a person has ever had the intention to cut down on drinking? Has the person ever been annoyed by the criticism they face towards drinking? Has the person ever been guilty about drinking? Has the person ever had a drink in the morning? Based on the answers given by the person the doctors can decide whether the person is addicted to drugs or not. There are many other methods to evaluate if one is abused to a substance or not. The many methods available are the MIST method, the MAST method. These methods are highly efficient in finding a person s addiction towards addiction to a substance. Based on this it is decided whether he should be admitted to a rehab or should he be sent to a outpatient treatment where one is treated in their home only. The rehab centers are also dedicated and they provide the right type of treatment based on the level of addiction and the rehab gives an assurance to bring back that person to normal and help him recover from that person s addiction.

Advice in life: Love and Marriage Essay -- Literary Analysis, Hughes,

Conventional wisdom has it that advice given from the older generation is always helpful. Common sense seems to dictate that since the elderly have lived life longer, they are wiser. Speaking as a voice of the younger generation, although the elderly have lived life longer, the advice they give to the younger generation is not always beneficial. One of the most popular Harlem Renaissance poets Langston Hughes and the idolized novelist Zora Neale Hurston, both wrote pieces revolving around the idea of giving advice on life. Both literary works present characters that in offering advice to the young demonstrate their own distinct personalities. Hurston and Hughes explore the idea of using life experiences to offer advice to the younger generation through active use of literary techniques. â€Å"Mother to Son† by Hughes depicts the struggles in life of a hardworking uneducated black Mother that attempts to give guidance concerning life to her son through her limited experiences. To take a case in point, Hughes’s poem â€Å"Mother to Son† the poet’s character Mother, describes her life metaphorically by relating it to a staircase. Through this metaphor one realizes that Mother has always been climbing up a staircase, meaning she has been overcoming obstacles in life and rising. Similarly, Hurston’s novel, Their Eyes Were Watching God explores the life of the emotionally weak black woman, Janie, who is continuously pressured to make life decisions based on the opinions that her Nanny has amassed throughout her entire life as a slave. In Hurston’s novel the author’s character Nanny, describes a woman metaphorically as a mule. Throughout the narrative, this metaphor allows one to understand the role of women in society. This description of women N... ...cation that refutes the claim that advice from the elderly is always beneficial is when Nanny tells Janie to marry a rich man. Janie corroborates the age-old adage that advice from the elderly is always helpful. In so, she claims that advice rests upon the questionable assumption of oneself. By focusing on her own feelings and not the advice of Nanny Janie was able to marry a man she truly loved. Janie reminds us that, it is simply not true that advice is given from the older generation is helpful. These conclusions that Janie reaches in life, add weight to the argument regarding advice from the elderly. These findings challenge the idea of people who assume that advice from the older generation is always helpful. Janie’s discoveries will have significant applications in life as people decide whether to put advice from the elderly to use in their own lives.

David Suzukis A Planet For The Taking :: essays research papers

David Suzuki's A Planet for the Taking In the essay "A Planet for the Taking," David Suzuki describes Canadians' odd appreciation for this great natural bounty we call our own. He is an internationally acclaimed scientist who is concerned about the welfare of Canada. Suzuki's intended audience is the Canadian population that does not realize the grave danger they are instilling upon themselves by haphazardly taking our resources without looking at the subsequent repercussions of their actions. The essay is persuasive and informative. He compares various facets of science and gives reasons why none of these fields can explain why we are destroying nature. The organization of the essay supports the author's views well. It begins with general opinions about the Canadian population and is followed by more detailed explanations. The general opinions in the beginning are well- chosen considering the audience. Suzuki's tone is evident when he states "We have both a sense of the importance of the wilderness and space in our culture and an attitude that it is limitless and therefore we needn't worry." These words suggest that we are willing to reap the rewards of our vast resources but we fail to see the harm that we are doing, and will continue to do if we do not stop these actions. Although his approach for explaining his beliefs changes, Suzuki's tone of great concern remains consistent throughout the essay. After his views are presented, Suzuki begins to tell us what we have done to our country and how we are destroying it. Present day Canadians are compared to native Canadians which successfully serves its purpose in illustrating how, for centuries, people lived off the natural resources in Canada. With the development of science and technology, we have developed better ways of mass harvesting resources but these methods are taking at a faster rate than nature can sustain. Science suggests means of replacing these resources we are taking but there is no quick replacement for ecosystems that have taken thousands of years to evolve. Following his explanations of how we have destroyed nature, Suzuki discusses science and how society deals with it, "I believe that in large part our problems rest on our faith in the power of science and technology." This statement and the following sentences are used to describe how people deal with great developments in science and technology. Because there have been so many great advances in these fields in the past century, people are comfortable placing their faith in science though scientists are still far from discovering all of the secrets to the universe. Scientists interfere with nature without

Business Strategy Simulation Analysis

The actions build into my strategic plan to achieve competitive success with my strategy were to: 1. Offer a wide variety of products in order to give consumers more choices and appeal to the diverse preferences of a larger consumer base. This was to be accomplished by increasing the number of models produced at both the North American (NA) and Asia-Pacific (AP) plants for sale in the internet and wholesale segments in all four regions. 2. Offer attractive, high-quality products that will hold up to wear and tear in order to provide consumers with increased value.This was to be achieved by using a higher percentage of superior materials versus standard materials for production, incorporating more enhanced styling features into the products, and investing heavily in Six Sigma/TQM programs to improve the quality of the workmanship that went into the products and to reduce the number of defects. 3. Offer products at a price that is reasonable and considerably lower than that of rivals o ffering shoes of similar style and quality.This was to be accomplished by managing production costs and  setting a lower profit margin. To manage production costs, the majority of the products were to be produced at the AP plant and shipped to the other regions. Due to the lower production costs at the AP plant, the company would still be able to achieve the target profit margin even with the additional costs of shipping the products to the other regions. Since the costs of production in the NA plant were significantly higher, the additional costs of shipping to the other regions would not allow the company to offer the products at the lower cost. Therefore, most of the product from the NA plant were to be sold in that region to avoid the additional shipping costs.Additionally, production costs were to be managed by increasing the number of products produced per employee and reducing the number of rejects through investment in best practices training, higher base wages, and increa sed incentive pay to the employees for improved and increased production. The selling price for each product was to be kept the same and increase only slightly each year in order to increase and maintain a loyal customer base through consistently reasonable pricing.The actions built into my strategic plan to achieve financial success with my strategy were to: 1. Reduce production costs through improved efficiency of operations. This would be accomplished by investing heavily in Six Sigma/TQM programs in order to improve the quality of workmanship that went into every product. Better quality production reduces the likelihood that customers will end up with defective, low-quality products that could severely damage the company's image.Additionally, by investing in best practices training for the employees and offering higher base wages and incentive pay, the plan was to increase the number of products produced per employee and reduce the number of units ultimately rejected. Increasing employee production allows the company to create more product with the same amount of resources and improving the quality of their work reduces the amount of resources wasted on rejected units. 2. Take a conservative approach in financing operations. This was to be achieved by reducing the amount of debt and not taking any unnecessary financial risks.To reduce the amount of debt, the plan was to have the company pay off loans early in order to save monthly interest expenses. To avoid taking financial risks, the company was to use financial resources to improve the capacity and performance of the existing NA and AP  plants rather than invest in new plants in other regions. The other objective of these action plans was to increase the company's financial rating so that future financing could be obtained at reduced interest rates should the need arise to finance the construction of a new plant.†¢ Why you selected the strategy you usedThe reason I selected the Best-Cost Provider Strategy for Kix Footwear was two-fold. First, the competitive strategy of offering a wide variety of attractive, high-quality shoes was based on what consumers, such as myself, would like to see from a shoe manufacturer. As a middle-income consumer, I work hard to earn the money I have and my disposable income is limited. When I shop for shoes I want to have a variety of shoes to choose from that are well-made and will last without sacrificing style or having to secure a loan to purchase them.The large majority of consumers are also middle-income and I wanted to target the largest market. Therefore, I decided that my strategy would be to provide consumers more value for their money. I planned to achieve this by producing and offering a large number of models to satisfy the need for more choices and to incorporate more enhanced styling features into each model, use higher quality materials, and invest in Six Sigma/TQM programs in order to improve the attractiveness and quality of t he shoes produced.My strategy to maintain reasonable prices was to invest in best practices training and offer higher base wages and incentive pay to employees in order to increase the number of pairs produced per employee and reduce the number of rejected pairs, thereby reducing the production costs per pair.Secondly, the financial strategy of reducing production costs and taking a conservative approach to financing operations was based on improving profit margins and managing risks. Therefore, my strategy to reduce production costs and improve profit margins was to invest in best practices training and offer higher base wages and incentive pay to employees in order to increase the number of pairs produced per employee and reduce the number of rejected pairs, thereby reducing the production costs per pair.With lower production costs per pair, the company would be able to retain more of the  revenue generated from sales resulting in an increased profit margin. My strategy to manag e risks was to reduce the company's debt obligations by repaying loans early and not incurring any further debt unless absolutely necessary. To avoid further debt, the strategy was to maintain a cash flow sufficient to pay expenses as they came due without having to obtain short-term financing and to increase production capacity by improving or expanding existing production facilities rather than by constructing new facilities in other regions.1. Evaluate the effectiveness of your strategy.The effectiveness of my Best-Cost Provider Strategy to provide consumers with a wide variety of attractive, high-quality products at an affordable price by using better materials, improving efficiency, and taking a conservative approach to financing operations was fairly successful. With the exception of the first and final years, Kix Footwear was one of the top three companies in the industry.As the game began, Kix started out in 5th place overall with slight increases in Earnings Per Share (EPS) of $0.02, Return on Equity (ROE) of 1.3%, and Stock Price of $0.42/share. By the end of the second year (Year 12), the company had more moderate increases of $2.33 in EPS, 8.3% in ROE, and $56.15/share in Stock Price, putting me 3rd place overall with a +13 point change from Year 11.Kix maintained its standing in 3rd place throughout the game until the final year, occasionally sharing it with Company E. The final EPS for Kix Footwear at the end of the game (Year 18) was $9.08, an increase of $6.39 overall; ROE increased 4.2% to a final score of 19.2%; and the Stock Price in the final year was $172.67/share which was an increase of $140.67/share.While my strategy for Kix Footwear was fairly successful, I believe that the company’s performance could have been better if I had been more willing to take financial risks. My attempts to increase production capacity were not as effective as I had hoped, causing my company to lose many sales to my competitors with the foresight to bu ild additional capacity at the onset of  the game.Additionally, I underestimated the competition's aggressiveness in obtaining celebrity endorsements and was too risk-averse to bid high, which resulted in my initial bids to be incredibly low compared to those of my competitors. Ultimately, I was not able to obtain celebrity endorsements immediately due to my low bids, which hurt my image and cost me sales.Due to my setbacks in failing to adequately increase capacity and obtain celebrity endorsements, I lost focus on my original deliberate strategy and began implementing a reactive strategy based on mimicking the actions of the 1st and 2nd place competitors. I reduced the number of models I offered and raised my prices substantially, both of which are directly in conflict with my initial strategy. Mimicking the strategy of a rival is rarely successful and did not prove to be so in this situation.As a result of this change in strategy, the company slipped slightly in Year 14, with E PS falling from $5.08 to $4.57, ROE decreasing from 20.4% to 16.0%, and Stock Prices slipping from $96.87/share to $83.20/share. I immediately realized my error and returned to my original strategy by offering more models at lower prices. The outcome was that I was able to regain my competitive advantage the following year (Year 15) and my scores reflected this as EPS rose to $6.03, ROE to 18.7%, and Stock Prices to $105.63.C. Evaluate your ability to identify competitors’ strengths, weaknesses, and strategies during the simulation.My ability to identify my competitors' strengths, weaknesses, and strategies during the simulation were at first not as good as I had hoped they would be. My focus at the beginning of the game remained only on those companies that were ahead of me or directly below me. The other companies did not factor into my strategic decision-making and, as a result, I lost out on a vital purchase of additional capacity at the beginning of the game which set me back slightly.Additionally, because of my failure to monitor my external environment, I was taken by surprise when Company E gained ground in Year 13, coming from 6th place to being tied for 3rd place with me. I realized at that point, that it was necessary to watch all of my competitors, not just the ones that I wanted to surpass. An ambitious company can make significant  changes to their strategy and overcome rivals quickly. For a company to maintain a competitive edge, it is important to closely monitor the external environment in order to identify competitors with the ambition, capabilities, and resources necessary to pose a real threat and prepare a strategy to protect against that threat.As the game continued my ability to identify competitor strengths, weaknesses, and strategies improved. I watched the behaviors of all of the companies, not just the most successful ones, and made strategic decisions based on taking advantage of weaknesses in my competitors in order to gai n their market shares and adjusting my strategy to take advantage of consumer preference trends. For example, I noted that there were a lot of sales in the wholesale segment were lost in all of the four regions by companies that were offering products for the private-label segment. I decided to avoid the private-label segment because the profit margin was less than in the internet and wholesale segments and to provide as much product as I could to those segments in order to gain the market shares of those companies supplying the private label segment.Additionally, there was more production capacity available than there was demand and this continued to be more pronounced each year. Therefore, rather than create more capacity through new construction, I decided to increase my capacity by purchasing it from other companies. With this increased capacity, I was able to better meet the demands of the wholesale and internet segments in all four regions without the monthly interest expense of a construction loan. The results were that I had fewer lost sales in the wholesale segment than those companies offering product for the private-label segment, achieved higher levels of sales revenue, and received an A+ credit rating.1. Discuss how successful you were in predicting your competitors’ next moves.My success in predicting my competitors' next moves was initially very good and then began to lag as the game continued. I believe that my initial success was due to the fact that every company was starting out in exactly the same position and faced with identical market conditions. Therefore, I simply predicted that my competitors, in reviewing and analyzing the same market conditions as I, would come to the same or similar conclusions and react in much the same way as I would. Regardless of the strategy each company wanted to execute, the fact remained that production costs were less in the AP plants than in the NA plants.So I predicted that most of the companies w ould concentrate their production in the AP region and ship to the other regions. I also assumed that most of the companies would raise their prices, a few would keep them the same, and that none were likely to lower prices. My predictions were accurate enough during the first two years that I received bonus points for being so close.As the game progressed, I was not as successful in predicting the moves of my competitors. I believe the first cause for this outcome was the fact that I was focusing only on the actions of the companies that were ahead of me of just below me rather than monitoring the entire external environment. I failed to recognize the importance of watching all of my rivals in order to identify potential threats to my market share.My predictions, therefore, were essentially my predictions for only those 3 or 4 successful competitors as a group, not the entire industry as a whole. Additionally, as the game continued, I found it difficult to find enough time to analy ze each company properly given the time constraints. There was very little time between years for analysis and decision-making and, coupled with working full-time and family obligations, I only had enough time to perform a cursory review and analysis before entering my decisions in order to meet the deadlines. I believe that given more time, I would have been able to more accurately predict my competitors' moves within the game. D. Discuss how sustainable the most dominant competitive advantage achieved by any company within your industry was.I believe that the most dominant competitive advantage achieved by any company within the industry was very sustainable. The top company within the industry, Company B, achieved competitive advantage by building capacity within the first two years and continuing to build throughout the game in all four regions; winning and maintaining celebrity endorsements year after year; and by investing significantly in advertising.This strategy was about  taking significant risks and it resulted in increased buyer demand, product differentiation, and perceived value. Company B had the capability of producing more product in all four regions than any of the other companies in the industry and enabled them to better meet the increasing demand for their product due to their successful advertising campaigns and celebrity endorsements. They were also able to eliminate all costs associated with shipping product from one region to another, which the other companies were not able to do. This company was able to maintain a 1st place standing overall throughout the game, with the exception of Year 13.By immediately increasing capacity and doing so in all four regions, Company B was able to increase production to meet increasing demand and eliminate the additional operating costs of shipping product from one region to another, keeping production costs down and increasing profit margins. The company also managed to successfully win bids for ce lebrity endorsements by the second year and maintain a high level of celebrity contracts throughout the game by bidding high. These celebrity endorsements, along with significant investments in advertising campaigns, allowed the company to boost consumer demand, increase product differentiation, enhance consumer perceived value, and command a higher price for their product.This company shot to the top of the industry immediately by taking advantage of market conditions through aggressive strategy and risk-taking. Once at the top, the company was able to sustain their competitive advantage by building on their strengths of increased capacity and demand. Increased capacity allowed the company to gain market shares from those companies unable to meet demand and demand for their product was created through numerous celebrity endorsements and considerable advertising.E. Compare the selected strategy to three following tests of a winning strategy:The generic competitive strategy that I se lected for Kix Footwear was to provide consumers with a wide variety of attractive, high-quality products at an affordable price by using better materials, improving efficiency, and taking a conservative approach to financing operations. A winning strategy can be determined by applying three tests; The Fit Test, The Competitive Advantage Test, and The Performance Test.The Fit TestTo pass The Fit Test, a company's strategy must fit the current situation, both internally and externally. Internally, the company must be able to execute the strategy with their available resources and current capabilities. For a good external fit, the strategy must be aligned with the current market conditions.I believe that my strategy passed The Fit Test because it was a good fit internally and an adequate fit externally. Internally, my strategy was based on improving the resources available to me and building on our capabilities, such as existing facilities and current employees. My strategy consisted of investing in improvements to existing facilities in order to increase capacity and investing in enhancements to my labor force through best practices training and higher base wages and incentive pay in order to retain their valuable knowledge and experience.My strategy from an external standpoint was only adequate. As it turned out, industry demand rose much higher than I expected and my strategy to increase capacity through improving existing facilities was not enough to keep up or get ahead. As a result I lost sales to those competitors with enough courage to take risks and build additional capacity.The loss of sales due to being out of stock damaged my company's image and affected future sales. My reactive strategy to loss of sales due to insufficient capacity was to purchase capacity from other competitors in the industry. This allowed my company the ability to better meet demand and lose fewer sales due to being out of stock. As a result, my company was able to regain the 3r d place position in the industry and remain there until the final year. †¢ The Competitive Advantage TestFor a strategy to pass The Competitive Advantage Test it must be capable of  helping the company achieve a sustainable competitive advantage. To be considered sustainable, a company's competitive advantage over rivals must be long-lasting and not just a brief period of exceptional performance. My company's strategy throughout the game was to provide a wide variety of high quality shoes for a reasonable price, which was followed each year with the exception of Year 14. During this year, I lost focus and changed my strategy to mimic those of the companies ahead of me, resulting in considerable losses.I returned to my original strategy in Year 15 and saw significant increases, returning my company to its former position in 3rd place where it remained until the final year. The ability to remain within the top 3 companies in the industry for the bulk of the game and have steadi ly increasing sales revenues each year speaks to the sustainability of my company's competitive advantage and, therefore, I believe that my strategy passed The Competitive Advantage Test.  The Performance TestThe Performance Test requires that a winning strategy result in strong company performance. Indications of strong company performance are profitability and market standing. I believe my company's strategy passed The Performance Test because it resulted in excellent profitability and good market standing. In terms of profitability, my company experienced consistent increases in net revenue each year and, with the exception of Year 14, showed a steady increase in EPS. Additionally, ROE met or exceeded investor expectations every year and unit sales in both the internet and wholesale markets increased steadily each year with the exception of the final year. In terms of market standing, my company maintained a global market share of between 8% to 10% throughout the game, met or e xceeded investor expectations for image rating every year starting in Year 14, and remained one of the top 3 companies in the industry until the final year.F. Explain how effectively you applied value chain analysis during the simulation.My effectiveness in applying value chain analysis during the simulation was fairly good, but I failed to recognize the reasons for my competitor’s success in the beginning and it cost my company image points, resulting in less market share.As the game began, I analyzed what my competitors were doing to add value for their consumers and my conclusion was that they were increasing capacity so that they could provide more product in each region without the additional costs of shipping from one region to another. What I failed to realize is that, in addition to building capacity, they were also building demand for their shoes through product differentiation and increasing consumer perceived value. This was accomplished by investing heavily in adv ertising and placing high bids for and winning celebrity endorsement contracts.Since I was unable to secure any celebrity endorsement contracts immediately and my competitors were offering the same number of models with the same S/Q rating as my company, I tried to create more value for my customers by increasing the number of models I produced, increasing the amount of enhanced styling, and raising my product’s S/Q rating.My analysis of my competition also revealed that they had an advantage in that they were able to provide better value to consumers by producing locally in order to avoid shipping charges and costs lower. To create more value for my consumers in this activity, I purchased more capacity in the AP region because the production costs there were much lower than those in the NA region and, even with the additional costs of shipping product to the EA and LA region, I would still be able to provide my customers with high quality shoes at a reasonable price as well as achieve a healthy profit margin.G. Evaluate how effectively you addressed three important issues in order to achieve competitive and financial success for your simulation company.Model availability My effectiveness in addressing model availability in order to achieve competitive and financial success for Kix Footwear was very good. I initially kept the number of models consistent the first year (Year 10), but quickly realized that without the advantages of having celebrity endorsements I needed to offer something to consumers that would differentiate my product, provide more value to my customers, and give me a competitive edge. To achieve these objectives, I increased the number of models I produced and offered for sale as well as increased the style and quality above that of my competitors. As a result, despite not being able to obtain very many celebrity endorsements, consumer demand and sales rose enabling Kix Footwear to come from 5th place in Year 11 to 3rd place in Year 12 , remaining there until the final year, and showed steady increases in sales revenue throughout the simulation. Corporate CitizenshipMy effectiveness in addressing corporate citizenship in order to achieve competitive and financial success for Kix Footwear was dismal at first and improving only slightly by the end of the simulation. When I began the simulation I did not pay much attention to the corporate citizenship aspects of decision –making, but due to my falling image rating and inability to obtain celebrity endorsements, I turned my attention to corporate citizenship.I invested in using recycled materials throughout the simulation, then began making small charitable donations, increasing it slightly each year. Towards the end of the simulation, in an attempt to further boost my image rating I began investing in ethics training and enforcement. While the efforts did boost my company’s image slightly, I believe I could have demonstrated better corporate citizenship and realized better competitive and financial success by increasing my attention to this area.Fiscal responsibility My effectiveness in addressing fiscal responsibility was very good during the simulation, but not excellent. I was very focused on eliminating all outstanding debt to avoid the monthly interest expenses and achieve an A+ credit rating in preparation for the possibility of needing capital in the future at a lower interest rate. While this aspect of my strategy was quite effective and I believe that my credit rating helped boost the company’s attractiveness to investors in that the credit risk was very low, my company  should have been putting the available capital to use to increase investment earnings. Rather than simply sitting on the available capital, the company should have invested it in order to increase investor’s return on equity. In that respect, I feel that I was not effective in addressing fiscal responsibility.