Five Writing Tics to Delete in Revision

Five Writing Tics to Delete in Revision Five Writing Tics to Delete in Revision Five Writing Tics to Delete in Revision By Maeve Maddox All writers strew less-than-perfect turns of phrase in their first drafts, unnecessary words and phrases that slow down writing. Here are five stylistic flaws that can be eliminated in revision. 1. Unnecessary prepositional phrases EXAMPLE: After all my hard work, the superintendents compliment was gratifying to me. BETTER: After all my hard work, the superintendents compliment was gratifying. The â€Å"to me† can be inferred by the reader. 2. Adverbs that are weak substitutes for a vivid verb EXAMPLE: The stranger walked threateningly toward us. BETTER: The stranger stalked toward us. I do not share the universal contempt for the -ly adverb, but I do take the time to examine -ly adverbs when I revise, replacing them with an evocative verb if I can think of one. For example: spoke softly = whispered crawled stealthily = crept spoke loudly = shouted 3. Stalling phrases like tried to, seemed to, began to, started to EXAMPLE: The suns reflection seemed to glisten and waver on the water. BETTER: The suns reflection glistened and wavered on the water. EXAMPLE: I took a detour down two short flights of stone stairs and started looking for the Last Chance Saloon. BETTER: I took a detour down two short flights of stone stairs and looked for the Last Chance Saloon. In most cases, these expressions merely stall the narrative. 4. Meaningless just EXAMPLE: He just climbed  to the top and fell asleep. BETTER: He climbed  to the top and fell asleep. EXAMPLE: She just wished the lift would move. BETTER: She wished the lift would move. When the adverb just conveys the meaning at that moment or merely, it has a function: I had just opened the letter when the phone rang. I have just enough flour to make this recipe. When just adds neither of these meanings, leave it out. 5. It as a sentence opener EXAMPLE: It was the comment about the dog that enabled the detective to solve the case. BETTER: The comment about the dog enabled the detective to solve the case. EXAMPLE: It was her lack of skill with small talk that held her back. BETTER: Lack of skill with small talk held her back. Replacing the vague sentence opener it with a noun strengthens a sentence. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Writing Basics category, check our popular posts, or choose a related post below:12 Greek Words You Should KnowHomogeneous vs. HeterogeneousThe Uses of â€Å"The†

Eastman Kodak Companys Strategy

Eastman Kodak Companys Strategy Executive Summary The purpose of this management report is to analyze the strategy used by Kodak otherwise known as Eastman Kodak Company. Kodak is the world’s leading company when it comes to imaging innovations and products. Kodak provides imaging technology as well as products and services to the image and photography industries around the world.Advertising We will write a custom report sample on Eastman Kodak Companys Strategy specifically for you for only $16.05 $11/page Learn More Some of the company’s products and service include retail printing kiosks, digital cameras, picture frames, online imaging services, image scanning equipment and photographic paper. The report will cover background information on the company by looking at the history of the company as well as the industry in which the company operates in. The various environments in which the company operates in will also be assessed in this report by conducting an environmental assessment or a PEST analysis of the political, economic, social and technological environment for the company. The report will also focus on Henry Mintzberg’s 5P’s for business strategies which include pattern, position, perspective, plan and ploy. Introduction Eastman Kodak Company is a US corporation that specializes in the production of photographic products and equipment. The company’s operations have been divided into four segments which include digital and film imaging, graphic communication, commercial imaging and health sector (Kodak Patents 2010). The major Kodak products include Colorburst, Kodamatic, Kodak DCS 100 and DCS DSLR, digital picture frames such as the Kodak smart picture frame, image sensors in digital cameras such as the Leica M8 and the KAF-10500 image sensor, document imaging and scanners as well as movie pictures and TV production (Kodak 2010). George Eastman, who was the founder of Kodak, introduced the first camera to the world in 1 888 that allowed people to capture special moments in still formats. Since then, Kodak has been the main provider of imaging, photography products and services as well as photography equipment such as cameras and picture scanners (Murat 2008). Kodak’s Strategy and Business Industry The company took aggressive steps in 2003 to re-invent itself to be a stronger and diversified company in the photo imaging industry by leveraging its operations to focus on the core businesses to ensure that its customer base had access to quality imaging and photography products/ services (Kodak.com 2004). In 2008, the company experienced a significant growth as a result of a five year restructuring program that would see its business strategy changing to improve revenue and profit margins.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As a result of the restructuring exercise, revenues from the digital businesses grew by double digits for four consecutive quarters between 2007 and 2008. The decline in revenue for the traditional segment of the company’s business was seen to be in line with the restructuring program which was meant to shift the operations of the business from traditional to more innovative and modern digital businesses (Kodak 2010). The restructuring exercise saw the company investing $4 billion dollars in research and development activities that would see an increase in its digital businesses. The $4 billion investment was also used in acquiring several small businesses that had been successful in the digital imaging industry to improve the company’s market share as well as improve its technological innovations and services. The restructuring exercise saw Kodak developing new business strategies that included expanding the digital segment of the company in both retail and home locations. This would see the development of photo kiosks and mini photo labs as well as the development of printer docks that would ensure the easy transfer of images from digital cameras to printers without the use of a computer (Gia 2008). The photographic equipment and supplies industry has changed in recent times to be known as the imaging industry. The current imaging industry defines companies according to whether they have innovative and novel technology instead of whether they have the best equipment or supplies in the photography industry. The major association that manages the imaging and photographic industry is known as the International Imaging Industry Association (I3A). The purpose of the I3A is to enable the use of imaging activities to simplify and enrich the lives of ordinary people through the use of visual experiences (I3A 2010). The association brings together various members who have invested in the imaging and photography industry to ensure that the appropriate imaging standards have been met. The International Imaging Industry Association is viewed as the global imaging ecosystem that is meant to make the creation and production of visual images easier and simple. Companies such as Kodak, Sony and HP have the power and authority to connect and collaborate with other leaders in the imaging industry to deal with any imaging challenges that might arise (Service Architecture 2010). Internal Environmental Analysis SWOT Analysis Like any other company, Kodak has strengths, weaknesses, opportunities and threats. The table below shows a SWOT analysis of Kodak Company (Gia 2008)Advertising We will write a custom report sample on Eastman Kodak Companys Strategy specifically for you for only $16.05 $11/page Learn More Strengths Major player in the imaging and photography industry as it is the top three provider of image and photography products and services. Wide product portfolio that covers digital products and online photo galleries. The company has a strong brand name and brand affinity. Kodak has a core competency in both traditional and digital photography and imaging business. The company has the financial capability to invest in research and development activities for new digital products. Kodak has a multinational market presence in over 100 countries around the world. This has enhanced its global distribution capability. Weaknesses Kodak lacks technological leadership as it mostly focuses on competitor innovations especially in the digital industry. The company lacks detailed and clear strategies that can be used to convince stakeholders and investors to invest in Eastman Kodak. The company has weak strategic alliances and partnerships that have not been successful in the past. For example the failed alliance between Hewlett Packard (HP) and Lexmark. Kodak has weak innovation capabilities in its other business segments apart from its digital technology segment. It has a lower financial power when compared to its competitors such as Sony and HP. The company is behind technology wise when it comes to the quality of its digital printers and mini labs as well as its online photo imaging services Opportunities There is an increasing demand for digital photography products and services. There are new emerging markets and countries for Kodak’s business operations which include China, India and Russia. Kodak has the opportunity to expand its product portfolio to meet its customer’s needs. The company has expanded its digital camera and printer market to meet the increasing demand for digital technology. It has also expanded its operations to include online sales as a result of an increased demand in photo online services. Kodak has acquired smaller businesses to gain a market share in the image and photography industry. The company has expanded its operations to cover the expensive digital market for cameras and photo imaging services. Threats The increasing development of devices that incorporate digital camera features has threatened the company’s camera production segment. The shifting tastes and preferences of consumers in today’s constantly changing market has made it difficult for the company to keep up with these trends. The availability of substitute products from companies such as Sony, Fuji Film and HP has threatened the company’s products and services. The digital photography industry has experienced a high growth rate but the profit margins are still very low. The company faces the threat of new competitors from countries such as China and the Middle East. The weak economy and the recent global recession affected the operations and business segments of the company Kodak’s Financial Performance Kodak has been identified by financial analysts to be the second largest company after Canon that produces photographic products and services in the photographic equipment and supplies industry. The company has a market capitalization of $8.1 billio n when compared to that of Canon which has been estimated to be $58.4 billion (Seed 2006).The financial performance of the company as at 2008 saw the company’s net sales decreasing by 9%. This decrease was mostly attributed to the global economic recession whose effects were being felt as early as 2007. The fourth quarter of the company’s financial year of 2008 saw its revenues decreasing by 24 percent which was lower than that of the previous year. The impact of this downturn in its revenues was severe to the company’s financial performance as it usually experienced high sales returns during the last four months of its financial year. The revenue downturn was mostly caused by the declining sales in Kodak’s Film Capture and traditional photofinishing products. This decline in sales was however offset by the company’s increasing sales volume in document imaging and consumer digital imaging products such as digital capture devices and consumer inkjet systems which experienced an increased growth in 2008. The gross profit of the company declined in 2008 due to the decline in its sales volumes as well as the unfavourable price mix in its business segments. The tables below show the net sales, profit margins and income tax benefits of the company for the year ended December 2008 (Kodak Financials 2010). Income Tax Benefit (dollars in millions) For the Year Ended December 31, Loss from continuing operations before income taxes Benefit for income taxes Effective tax rate 2008 ($874) ($147) 16.8% 2007 ($256) ($51) 19.9% For the Year Ended December 31 Change Vs. 2007 2008 Amount ($) Change vs.2007 Volume Price/mix Foreign Exchange Manufacturing and other costs Total net sales 3,088 4.9% 8.6% 14.6% 1.1% n/a Gross profit margin 19.2% -6.3 pp n/a -13.4pp 0.7pp 6.4pp (Source: Kodak Financial 2010) GAP Analysis: Kodak’s Resources and Capabilities The company’s has a variety of resources and capabilities t hat have given its products and services a competitive advantage over its competitors. The table and graph below show the various resources and capabilities of Kodak. Kodak’s Resources Kodak’s Capabilities Code Importance Strength Code Importance Strength Technology R1 8 8 Environmental management C1 8 4 Brand Name R2 9 8 Government Relations C2 4 6 Distribution R3 10 10 Imaging Capabilities C3 8 10 Financial resources R4 7 10 Sales and Marketing C4 8 9 Image sensing R5 10 8 Research and Development C5 10 10 KODAK’S GAP ANALYSIS Technological development C6 7 9 Colour management C7 8 8 Market share C8 10 9 New product development C9 7 4 Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More FAR Analysis When analysing the functional areas of Kodak, two main areas of interest are usually considered; product development and sales and marketing. In Kodak’s product development, the design team is usually focused on creating products that are innovative and more superior to those of the competitors in the imaging market. Digital cameras which are a major innovation for the company have seen a lot of development where designers and developers of the product focus on creating cameras that are easy to use and compatible with other products such as computers and printers (Seed 2006). Kodak has continued to add value to its products by continually investing in research and development activities that will see its innovations being superior and unique to those of its competitors. Kodak’s EasyShare camera line demonstrated the ability of the company to produce a camera that was simple and easy to use as well as of a high quality when compared to the other digital cam eras in the market. The EasyShare digital camera ensured that the company was able to achieve brand recognition and brand affinity within the imaging and photography industry. It enabled Kodak to move away from the traditional line of photography and equipment to a more modern and unique product line (Seed 2006). Under the development segment of the company is production which deals with the actual development of the product designs and innovations. Kodak pursues a high cost strategy when it comes to its product innovations which are meant to ensure that the best materials and designs have been used in the development of high quality digital cameras. The second area of the company deals with sales and marketing where the company employs the use of various marketing tools and strategies to market its products. The photo finishing kiosks are a major marketing tool for the company as they cater for photo editing of customers digital images and they also offer complementary products suc h as free memory cards for storing the digital images as well as free photo printing paper. The online photo sharing sites such as Ofoto are valuable marketing tools for the company as they allow customers to create and share their pictures with other users which increase the appeal for Kodak digital products (Seed 2006). Another segment that works in conjunction with sales and marketing is distribution. As with any other company distribution plays an important role when it comes to making the products of a company available in the market. Kodak places a lot of emphasis of on-time deliveries, inventory management and good supplier relations. The company however pursues a low-cost efficiency strategy in its distribution activities as it has placed a lot of emphasis on product research and development. The company utilises the strategy of placing value of the quality of the product rather than on its availability during its distribution activities (Seed 2006).The diagram below represe nts a FAR analysis of Kodak based on the two areas of focus which are development, sales and marketing Mintzberg’s 5Ps for  Strategy The varied definitions of strategy have made it difficult to pinpoint a specific definition that can be used to explain the concept of strategy. Because of this, Henry Mintzberg came up with the 5Ps that could be used in explicitly defining the term strategy. These 5Ps include plan, ploy, pattern, perspective and position (Frankenberger 2006: McCabe 2010: Davies and Ellison 1999). Plan defines strategy as an intended course of action or guideline that is developed by an organization or company to deal with a given situation (Gane 2007). Plan describes strategies to be actions that are formulated purposefully and consciously in advance to deal with situations that are meant to happen or about to happen (Institute for Manufacturing 2010: Morden 2004). Strategies that are defined by plans are intentionally organized to take place as they ensure that the progress of projects and activities has been predetermined and the expected outcomes have been projected (Tiwari 2009). Strategies that include the use of plans involve developing schedules that can be used in product developments and launches, company acquisitions and mergers, investment activities and financial ventures, human resource training programs and downsizing in companies (Campbell et al 2002). Kodak has developed a planned strategy known as the content strategy that is used in its overall marketing strategy. The content strategy is focused on two aspects one of which is creating content that showcases the products and services that the company uses in its business operations. The tips and projects centre has been identified as the perfect example of the content strategy as it involves the use of inspirational photo essays, imaging projects and photography tips in developing the company’s content for its new product innovations and services (Hoehn 2009). T he second aspect that is considered under the two pronged content strategy is the aspect of distribution which focuses on distributing the created content through the various channels of the company. The company has developed the Kodak distribution channel information portal to distribute the created content (Yunhao 2005). The distribution channels used by Kodak include blogs, social networking sites, company websites and partnership sites The Company also has a distributed publishing model that involves various bloggers and the company’s employees posting their comments about the company’s new products and innovations in the publishing model. Mintzberg and Ghoshal (2003) describe a ploy as a manoeuvre that is used to outwit a competitor, a rival or an opponent in a certain activity or industry. Ploy as a strategy is used as a short term goal for companies because a ploy usually tends to have limited objectives and goals. Ploys are also subject to change within short n otice given their short term nature and also given the varying reasons for using the ploy in the first place (Kew and Stredwick 2005). Ploy’s usually operate within the context of competition and competitive rivals within a specific industry where a company tries to eliminate its competition through the use of ploys such as a reduction in commodity prices and introduction of new products into the market (Chappelet and Bayle 2005: Gronfeldt and Strother 2006). Kodak has used various ploys within the imaging and photography industry to try and gain a competitive edge over its rivals in the same industry as well as increase its market share. Such ploys include the activation of numerous fronts during major sporting competitions such as the Olympic Games and the World Cup, the use of blogs and social networking sites to market its activities, the promotion of the Kodak brand during the season finale of the Celebrity Apprentice show and the showcasing of the company’s prese nce in golf through the incorporation of the Kodak Challenge which is a fantasy game (Hoehn 2009). Mintzberg et al (2005) describe pattern as behaviour of strategy that describes the level of progress that has been made after a particular course of action or form of behaviour has been adopted by an individual or a particular company. Strategies that are patterns have been viewed to just occur as a result of consistent and inconsistent behaviour (Bilton and Cummings 2010). Pattern defines strategy as a stream of planned actions and behaviour that is consistent and intended. Strategy as a pattern is different from that of strategy as a plan because patterns are viewed to be strategies that have been achieved or realised while plans are strategies that have been identified and intended for action (Evans et al 2003: Wagner 2006). Patterned strategies are therefore those actions that have been developed without any intention or deliberation (Bilton 2007: Ehrnreich 2004: Tate 2009). Patte rn strategies are mostly common in small businesses such as scrap dealerships and scrap metal collection agencies. Such businesses operate on the premise of buying as much scrap metal and materials as they can meaning that they do not need any type of strategy or plan to purchase scrap metal (Simons 2005). These businesses however cannot buy old and used plastics because these purchases will be outside their pattern of business behaviour. Such patterns are therefore deemed to be unconscious strategies because businesses do not realise that they are following any consistent pattern (Smith et al 1999). The definition of strategy as a position is described as locating an organization in a particular environment. Strategy through the use of position describes the mediating forces that are used to match the functions of the organization within the industry or environment that it operates in (Marx 2004: Dinsmore and Brewin 2010). Mintzberg views a position strategy to be appropriate when the most important aspect to an organization is how it relates to its competitors, investors, stakeholders and employees. An organization that incorporates the use of position strategy usually seeks to defend a particular position within a certain market segment and industry (Capon 2008: Morris and Pinto 2007). Kodak has developed its position in the photography and imaging industry by being the first company to develop photographic equipment that incorporates the use of sensory technology (Northeast 2007). It has also established its position in the imaging industry by focusing its products and services on specific industries and companies. Kodak has developed products for educational institutions such as Kodak scanners and integrated imaging equipment that are used during course training and practical applications. The company has also developed services for financial institutions that incorporate the use of digitized microfilms used to create, store and protect financial data tha t is irreplaceable in nature. Kodak has also developed products for health institutions and public hospitals that are mostly used in maintaining patient medical records and also for taking body X-rays (Kodak Graphics 2010). The definition of perspective strategy is that it is a chosen position and a perceived notion that the company has of the general world. Mintzberg (2007) describes perspective as a view that an organization has of its internal and external environment. Perspective strategy is important as it enables a company to formulate objectives and goals that can be used to achieve business operations through the optimal use of company resources (Magalhes 2004: Carsrud et al 2007). Perspective determines the patterns of behavior of the company as it outlines the intentions of the employees and the company as a whole. Perspective strategy involves the incorporation of employee’s ideas and intentions into strategic plans to achieve business goals and objectives (Lechner 2005: Clausen 2003: Buytendijk 2010). Kodak practices strategies that are perspective in nature. It has developed distribution channels for its products and services that incorporate the ideas of its workers and employees. These channels include the social networking sites as well as company blogs where employees are able to post their comments about particular products and services that the company wishes to introduce to the imaging market. These opinions and comments are usually published by the company in its distributed publishing channel after which these channels are used in the creation of content analysis for the company’s products (Phillips 2004). PEST Analysis PEST analysis which is also known as environmental analysis is the assessment that a company performs on its external environment. A PEST analysis involves looking at the political, economic, social and technological environment in which a business operates in (Qin 2009: Tovstiga 2010). Despite the fact that many organizations view environmental analysis as an important activity, such an analysis ends up making a minimal contribution to the overall operations of the business. This is mostly based on the fact that many organizations view the environments in which they operate in to be volatile and uncertain. This limits their ability to control the impact of the environment on the company’s operations (Bensoussan and Fleisher 2008). These environments also have indirect effects on the operations of a company which leads to minimal outcomes of environmental analysis (Smith and Raspin 2008). Despite all of these aspects conducting a PEST analysis is an important activity for many companies as it ensures that the company has knowledge of its external environment (Gregory 2000). A PEST analysis usually allows a company to conduct a SWOT analysis more easily because it assesses the external environment of a business. It is therefore important for a business to conduct a PEST analysis b efore it performs a SWOT analysis (Applegate and Johnsen 2007: Grant 2005). Political Environment As the imaging industry continues to undergo new technological innovations and services, the company has been faced with the problem of patent infringement and patent law suits. This has been because the various imaging technology and equipment developed in the industry is similar for all companies which makes it difficult to establish the company that had the original patent (Mendes 2010). Patent infringements are common in the imaging industry because of the similarity of products and services that are produced by each company. As a result of this Kodak was involved in a patent infringement with Sony because of the similarity of cameras and photographic equipment that were produced by both companies (Digital Photography 2004: Gustavson 2009). Kodak launched a patent law suit against Sony for breaching 10 of its patent rights when it came to its digital cameras. The company alleged tha t Sony used technology invented by Eastman Kodak in developing its digital cameras that incorporated the use of image compression and digital storage hardware (BBC 2004). Privacy is another political environment that has impacted on Kodak’s business operations. This has mostly been attributed to the fact that digital technology in the US has become smaller and more compatible with equipment that is used on a regular basis. Digital imaging equipment has been incorporated into equipment and technology that is commonly used by ordinary US citizens. Such equipment includes mobile phones that now have camera features as well as photo editing and image viewer technology. These devices are easily available in the technology market and they have been used for activities that invade the privacy of other people (Seed 2006). Economic Environment The economic environment of Kodak has shown that the company’s products are used by both individual and industrial consumers. Individual consumers have recorded a high purchase of pocket digital cameras developed by the company for their own personal use while the health sector has been identified as a major buyer of Kodak’s imaging and scanning equipment. As much as many people own pocket cameras and photographic equipment, the high inflation and interest rates as well as the recent global recession have made most high end Kodak products to be considered a luxury item for most customers (Khosrowpour 2007). The increasing inflation rates which were as a result of the 2009 economic meltdown saw a decrease in the disposable income which forced many people in the United States and the rest of the world cutting down on their spending. This meant that people only spent on what they could afford and what they considered to be important. This saw a curb in luxury spending which in turn affected digital camera sales in Kodak (OECD 2009). Such high inflation and interest rates will also affect the spending of industri al consumers such as health institutions and government offices that are the main consumers of the company’s imaging and scanning technology (Barnwell 2006). Since companies make their capital expenditures on borrowed funds, they might have to postpone their borrowing because of the high inflation rates. This will mean that they will not have enough money to purchase any of the company’s products (Gwartney et al 2009). The company will also be faced with other economic factors such as decreasing growth in film sales. As the world embraces digital technology, film photography is projected to be obsolete in the next ten years as more people switch towards digital photography and technology. The company’s current strategy has been to invest the revenues it earns from film sales to be used in the development of digital products (Reliable Plant 2010). This strategy will however be difficult to achieve given the current slow film sales that are being experienced in th e digital market. These sales have also been affected by its competitors who have developed far more superior products than the company (Barney and Hestelry 2006). Technological environment The imaging and photography industry is one that experiences fast technological innovations and developments meaning that the company’s technological environment is one that is subject to a lot of changes (Kurtz et al 2010). Such a high degree of technological innovations has mostly been driven by a need to have imaging devices that incorporate the all-in-one features (Worthington and Britton 2006). Consumers in this environment have shown that they prefer equipment that incorporates all features into one device. Consumers now prefer to have mobile phones that have camera and photo imaging features incorporated into them (Schweibenz and Cabral 2010). Many mobile phone makers around the world are developing products that have more advanced camera works into their mobile phones. For example Nokia’s smart phones have digital camera features that allow the users to take digital images as well as create, edit and view these images (Turner 2010). Such technological innovations have therefore had an impact on Kodak’s operations given the high demand for all-in-one devices that mostly incorporate digital camera features (Fullen and Podmoroff 2006). The growth of integration and portability in the imaging market has increased the need to constantly replace technology with newer innovations. Kodak has been faced with the technological challenge of constantly updating its products to ensure that they remain relevant within the imaging industry. While a 1.3 Mp camera might have experienced high sales five years ago, the same cannot be said for the camera now as higher mega pixel cameras are being introduced into the market (Kodak Store 2010). Kodak’s processing kiosks have also experienced slow growth and film sales as a result of the digital printing of ima ges where consumers load their images onto memory cards or mass storage devices for printing. The availability of color and image printers has made it easier for people to print their images at their convenience at cost. This has led to a marked decrease in the number of people that visit the company’s image processing kiosks to have their pictures printed. The technological environment has therefore affected the growth of the company given the high rate of technological innovations in the market that make it easy to create, store and produce a digital image (Kodak Kiosk 2010) Social Environment The social environment has impacted on the business operations of Kodak through the proliferation and increasing use of social networking sites. The world has experienced an increasing growth of Internet communities and networking sites where millions of people join to discuss and share their opinions about certain issues that might be affecting them (Quick MBA 2010). These sites have affected the operations of Kodak because they incorporate features that allow users to edit and upload their photos to these sites. These sites also have photo sharing capabilities that allow users to share their images with other users. Such features limit the need for Kodak photo sharing and photo editing products (Zastrow and Ashman 2010: Thomases 2010). The social environment has also affected the operations of the company because of the cultural diversity and beliefs that various countries hold around the world (Zastrow and Ashman 2010). While many countries have embraced technology such as digital cameras, others view these devices to be an invasion of their privacy especially in countries that limit the photographing of national symbols and statues. This impedes the sale of the company’s products to these countries because of their view of imaging technology as an invasion of personal privacy (Osborne and Brown 2005: Anderson et al 1999). Recommendation In order for K odak to become the world leader in the production of digital imagery products and services the company should intensify its strategic alliances with other companies within the industry to ensure that it increases its market share. The company could also share its brand name and logo with other companies such as Sony, Canon or Fuji film especially in its low performing product lines such as the digital scanners. The company should also consider expanding its operations in countries such as China and India as well as other eastern countries that have continued to experience rapid growth and developments especially in their technological industries. Kodak should also consider acquiring technology firms that have demonstrated an increased rate in the production of technological innovations to ensure that it has up to date digital products. Conclusion The 5P’s for strategy have shown that the company has incorporated the use of various strategies to achieve its business goals and objectives. The PEST analysis has however shown that the company faces a tough external environment that might affect its business strategies and objectives. The company therefore needs to reassess its business strategies and goals to deal with the external environmental factors that might affect its business operations to ensure that it remains relevant in the current competitive environment as well as survive the external pressures. References Applegate, E., and Johnsen, A., (2007) Cases in advertising and marketing  management. Maryland, US: Rowman and Littlefield Anderson, R.E., Carter, I.E., and Lowe, G., (1999) Human behaviour in the social  environment: a social systems approach. New York: Transaction Books BBC (2004) Kodak sues Sony in patent row. Available at: http://news.bbc.co.uk/2/hi/business/3547689.stm Barney, J. 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Oxford, UK: Elsevier Fullen, S.L., and Podmoroff, D., (2006) How to write a great business plan for your  small business in 60 minutes or less. Florida: Atlantic Publishing Group Inc Frankenberger, S., (2006) Management of regulatory influences on corporate stra tegy  and structure. Germany: Deutscher Universitats-Verlag Gane, M., (2007) Forest strategy: strategic management and sustainable development. New York: Springer Grant, R.M., (2005) Contemporary strategy analysis. Oxford, UK: Blackwell Publishing Gregory, A., (2000) Planning and managing public relations campaigns. London: Kogan Page Limited Gia, K.P., (2008) Case study: Kodak at a crossroads: the transition from film-based to  digital photography. Norderstedt, Germany: GRIN Verlag Gronfeldt, S., and Strother, J.B., (2006) Service leadership: the quest for competitive  advantage. California: Sage Publications Gustavson, T., (2009) Camera; a history of photography from Daguerreotype to digital. US: Sterling Innovation Gwartney, J.D., Stroup, R.L., Sobel, R.S., and MacPherson, D., (2009) Economics:  private and public choice. Ohio, US: South-Western Cengage Learning Hoehn, T., (2009) Kodak: why content strategy is the key to marketing. Available at: http://blog.junta42.com/co ntent_marketing_blog/2009/05/odak-why-content-strategy-is-the-key-to-marketing.html Institute for Manufacturing (2010) Mintzberg’s 5 Ps for strategy. Available at: ifm.eng.cam.ac.uk/dstools/paradigm/5pstrat.html International Imaging Industry Association (I3A) (2010) About I3A. Available at: i3a.org/about-i3a/synopsis Kew, J., and Stredwick (2005) Business environment: managing in a strategic context. London: Chartered Institute of Personnel and Development Kodak (2010) History of Kodak. Available at: kodak.com/global/en/corp/historyOfKodak/historyIntro.jhtml?pq-path=2217/2687 Kodak.Com (2004) Eastman Kodak company 2003 annual report and 2004 proxy  statement. Available at: kodak.com/US/en/corp/annualReport03/letter/letter1.shtml Kodak Graphics (2010) Industry solutions. Available at: http://graphics.kodak.com/docimaging/us/en/industry_solutions/index.htm Kodak Financial (2010) Eastman Kodak Company 2008 annual report. Washington, D.C.: Securities and Exchange Commiss ion Kodak Kiosk (2010) Kodak Picture kiosk. Available at: kodak.com/eknec/PageQuerier.jhtml?pq-path=7959pq-locale=en_US_requestid=39900 Kodak Patents (2010) Camera printers. Available at: http://kodakpatents.org/ Kodak Store (2010) Easyshare digital cameras. Available at: http://store.kodak.com/store/ekconsus/en_US/list/Digital_Cameras/categoryID.28887600 Khosrowpour, M., (2008) Utilizing and managing commerce and services online. London : Idea Group Inc. Kurtz, D.L., MacKenzie, H.F., and Snow, K., (2010) Contemporary marketing. Canada: Cengage Brain Lechner, C., (2005) A primer to strategy process research. Germany: Cuvillier Verlag Magalhaes, R., (2004) Organizational knowledge and technology: an action-oriented  perspective on organization and information systems. Massachusetts, US: Edward Elgar Publishing Marx, K., (2004) The role of the social context for strategy-making. Germany: Springer Science McCabe, S., (2010) Corporate strategy in construction: understanding todayâ €™s theory  and practice. Oxford, UK: Blackwell Publishing Mendes, G., (2010) What went wrong at Eastman Kodak?: strategic analysis. Available at: https://www.google.com/url?q=http://strategytank.awardspace.com/articles/What%2520went%2520wrong%2520at%2520Eastman%2520Kodak.pdfsa=Uei=pb37TNafM4i28QOvtpWEDAved=0CBoQFjACusg=AFQjCNGT5L68WeTz8SE36uTKcAfU0cbWJg Mintzberg, H., (2007) Tracking strategies: toward a general theory. Oxford, UK: Oxford University Press Mintzberg, H., Ahlstrand, B.W., and Lampel, J., (2005) Strategy bites back. New York: Prentice Hall Financial Times Mintzberg, H., and Ghoshal, S., (2003) The strategy process: concepts, contexts,  cases. New Jersey: Pearson Education Morden, T., (2004) Principles of management. England, UK: Ashgate Publishing Morris, P., and Pinto, J.K., (2007) The Wiley guide to project, program and portfolio  management. New Jersey, US: John Wiley and Sons Limited Murat, J.K., (2008) The history of Kodak, how it all started and evolv ed. Available at: http://ezinearticles.com/?The-History-of-Kodak,-How-it-All-Started-and-Evolvedid=974223 Northeast, P., (2007) Kodak’s new digital photo sensor. Available at: suite101.com/content/kodaks-new-digital-photo-sensor-a31444 OECD (2009) The financial crisis: reform and exit strategies. United States : OECD Publishing Osborne, S.P., and Brown, K., (2005) Managing change and innovation in public service  organizations. New York: Routledge Phillips, C., Doole, I., and Lowe, R., (2004) International marketing strategy: analysis,  development and implementation. London, UK: Routledge Reliable Plant (2010) Kodak sharpens focus, plans leaner cost structure. Available at: reliableplant.com/Read/15757/odak-sharpens-focus,-plans-leaner-cost-structure Schweibenz, E., and Cabral, R., (2010) Kodak files New 337 complaint regarding  certain mobile telephones featuring digital cameras. Available at: itcblog.com/20100115/odak-files-new-337-complaint-regarding-certain-mobi le-telephones-and-wireless-communication-devices-featuring-digital-cameras/ Seed, S., (2006) Case analysis: Eastman Kodak Company. United States: Pacific Lutheran University Service Architecture (2010) International imaging industry association (I3A). Available at: service-architecture.com/xml/articles/i3a.html Simons, R., (2005) Levers of organization design: how managers use accountability  systems. United States: Harvard Business press Smith, P., Berry, C., and Pulford, A., (1999) Strategic marketing communications: new  ways to build and integrate communications. London: Kogan Page Limited Smith, B., and Raspin, P.G., (2008) Creating market insight: how firms create value  from market understanding. England: John Wiley and Sons Limited. Tate, W., (2009) The search for leadership: an organizational perspective. United Kingdom: Triarchy Press Thomases, H., (2010) Twitter marketing: an hour a day. Indianapolis, US: Wiley Publishing Tovstiga, G., (2010) Strategy in practice: a practitioner’s guide to strategic thinking. West Sussex, UK: John Wiley and Sons Ltd. Tiwari, R., (2009) Tourism management: managing for change. New Delhi, India: Global India Publications Limited Turner, S., (2010) The little black book of management: essential tools for getting  results now. United States: McGraw Hill Companies Qin, Z., (2009) Introduction to E-commerce. Berlin, Germany: Springer-Verlag Quick MBA (2010) PEST analysis. Available at: quickmba.com/strategy/pest/ Wagner, S.L., (2006) Governance and organizational dynamics. United States: Medical Group Management Association. Worthington, I., and Britton, C., (2006) The business environment. New York: Prentice Hall Yunhao (2005) Technology for a digital world. Available at: yunhao.com.cn/Case_Kodak.htm Zastrow, C., and Ashman, K.K., (2010) Understanding human behaviour and the social  environment. California, US: Cengage Learning

Cognitive Development Theory Essay Example | Topics and Well Written Essays - 750 words

Cognitive Development Theory - Essay Example This test was adopted to be used in the United States in 1905 by a psychologist called Lewis Terman (Morra, 2008). The intelligent quotient has its scoring concept based on the mental age. In this test, the average intelligence of a child needs to match with his/her age. However, a gifted child has his or her performance compared to that of older children while the slow leaners are identified through comparisons with younger children. There are a number of theories of cognitive development, yet there is none that gives explanations to all the cognitive development aspects. The Jean Piaget theory is one of the most comprehensive and influential postulate. Jean argues that intelligence is an enabling agent for one to adapt to an environment. Ones intelligence is shown by his or her response towards a certain stimuli. He was interested in the reaction of children towards the environment (Morra, 2008). The knowledge of a child contains basic units referred to as schemas which organize ex periences acquired in the past and provide grounds in which new ones are understood. Piaget establishes four main stages of development and each of these stages build on the experiences a child acquires from the previous stage. These stages include; 1) Sensory or infancy stage: During this period intelligence is shown through the reflex activity that does not involve the use of symbols. The knowledge develops in a limited manner as a result of reduced physical, interactive activities and various experiences gained. Infants begin learning the world around them by using their senses. They mostly focus on the movement of various objects around them, separate pitch and sounds, perceive colors and anticipate events such as suckling once they see their mothers nipples. 2) Pre-operational stage also known as toddler or early childhood: Here, the child’s intelligence is demonstrated by the involvement of symbols. It is also associated by development of memory and imaginations, improv ement of language, and predomination of opportunistic thinking. However, thinking is demonstrated in an illogical or irreversible manner. Toddlers strive to be independent posing a challenge of their safety to the parents. They also show an understanding of what is appropriate or not. They are knowledgeable on the permanence and displacement of the various objects or people, and starts using different tools and instruments within their reach. 3) Concrete operational stage also referred to as elementary and early adolescence: This stage is characterized by logical interpretation and systematic analysis of symbols that relates to concrete events and objects (Morra, 2008). Reversible mental actions dominate while the egocentric thinking diminishes. At this stage, they acquire imagery, memorizing and social interaction skills. They learn negative actions such as lying, abusing and bullying. 4) Formal operational stage also known as adolescence and adulthood: Abstract concepts and logica l application of symbols describe the intelligence in this stage. Formal thinking and a slight demonstration of egocentrism characterize this people. Their judgments on various occurrences are based on their ability to analyze past experiences. School age children are able to think on what is possible and stop limiting their thoughts to what is real. Their thinking is hypothetical. They are able to comprehend abstract ideas in a logical manner,

Violent video games Essay Example | Topics and Well Written Essays - 1250 words

Violent video games - Essay Example a popular source of entertainment for many members of society, some critics have raised concerns over their effects on the behavior of their enthusiasts. More especially, they note that violent video games lead members of society to be violent in behavior. This paper will analyze the extent to which violent video games cause their enthusiasts to behave violently. Many video games have scenes that depict violence or aggression as noted by the Entertainment Software Rating Board (2014). For a video game to be categorized as violent, it probably falls under the category teen, mature, or adults only. Under the teen (13+) category, the content descriptors for include: talks on alcohol, comic mischief, and language that is a bit harsh (Hughs 2007). Examples of games under this category are The Sims 2 Kitchen & Bath Interior Design Stuff. Under mature category, the rating takes into consideration the presence or absence of suggestive themes, blood, language that’s strong, violence, harsh humor (Hughs 2007). One example of a video game that falls under the mature category is Metal Gear Solid 4: Guns of the Patriots. In the adult category, content descriptors include blood and gored blood scenes, intense violence, nakedness, strong language, strong sexual content, and use of illicit drugs. One video game that falls under this category is Grand Theft Auto: San Andreas (Hughs 2007). Whatever the category, a video game is considered to be violent in nature if it generally features violence, strong language, and weapons. Weapons used in some violent videos include chainsaws, machine guns, machetes, and grenades that make the killing bloodier (Ferguson & Garza 2011). Some violent video games are event characterized by gang warfare that include killing of police and pedestrians, shooting while driving, and racial factors where white heroes kill back victims as noted by Ferguson and Garza (2011). Some of these have the player advance by the making their killing most horrific.

Three Kings Comparison Essay Example for Free

Three Kings Comparison Essay Art in the ancient times was very important in history and that it was also used to signify some important occasions like during offerings, for example in the Chinese traditions; it was also used for decoration and making of monument for remembrance especially in the roman empire and Egypt. Making of portraits of political and religious leaders became very popular in Roman Empire, the empires that occupied the gulf region and Egypt. The making of portrait sculptures has undergone a notable change and still today the making of sculpture portraits of political leaders is still evident. Creativity and other aspects of art and craft work has been very dynamic since the primitive and ancient civilization period to the modern day and also varying from down-to-earth and sacred to modernist abstract. The history of sculpturing activities date back to about 4000 years ago and it appears to have begun in the are around the gulf valley between river Tigris and Euphrates where strong empires were first established including Persian, Chaldean, Assyrian, Sumerian and Babylon empires. Portrait Sculptures There are many portraits that were excavated in the ancient times and some of the examples include artistic work diorite on marble, hammered gold, diorite and lapis lazuli. The artistic works from the Sumerian art are much idealized in terms of the external features and they date back to 2400 BC. The works of art carried out in the Sumerian era appear to have taken in a lot of creativity and a definite form of architecture and was quite elaborate and also complicated (Bailey 2005 Evans 2007)). Clay was the most readily available material and due to this, it was commonly used for sculpturing since other materials like wood, metals and carving stones had to b e imported from abroad. Other forms of art included drawings and paintings. The subjects of the sculpturing were mainly patricians and particularly the political rulers (emperors). The copies of the sculptures were distributed all over the empire for instance in the Roman Empire, the portrait sculpture entrenched the roman civic intrinsic worth and set the standard for the other nations public portrait sculpture since then (Bailey 2005). The most notable is the portrait of Emperor Constantine. Most of the art work that was obtained during the destruction of the empires in the barbarian invasion and Christian transformation; the materials used to make the sculptures were lime and bronze, the marble was burnt to lime while bronze was melted for other uses. Other important portraits were discovered in the countries that are found in the gulf region and these forms of art were basically Sumerian type and Akkadian types and dated back to 24,000 to 22,000 BC when the Babylon kingdoms flourished in the Middle East (Evans 2007). Tell Asmar Portraits The sculptures described as tell Asmar portraits were discovered in the gulf region that is between river Tigris and river Euphrates (Mesopotamia) at a site known Tell Asmar. The statues were the most realistic of the ancient sculptures and they measured about 42 centimeters average height. The eyes were clearly engraved and appeared to be protruding with clutched hands (Bailey 2005). Initially, most of the portrait sculptures were made using material like soft stone, ivory and even clay. As the Sumerian and Akkadian art developed during the early age civilization, ballast, sandstone, diorites and alabaster became popular materials for use in sculpture making. However some sculptures were identified as being high quality and for these reason the material used were expensive and long lasting; the material for such high quality portraits included gold, silver, copper and several precious stones (Evans 2007). Clay was a material that was used to make pots and terra cotta sculptures while stone was not commonly used since it was scarce and had to be imported from other empires. The portraits discovered at Tell Asmar as mentioned had staring eyes and the men’s statues had a distinct beard. The recent statues than were found in 2700 BC revealed that the materials used were votive stones and were excavated in royal cemetery at Ur. Other sculptures were made from gypsum (calcium sulphate), in the ancient times, gypsum was heated to about 300 degrees Fahrenheit and turned to white powder commonly referred to as plaster of Paris, the powder is mixed with water to make a semi solid substance that can be modeled into a sculpture(Bailey 2005). Some of the statues are preserved in museums. King Tutankhamun Portrait The portrait of king Tutankhamun is widely appreciated form of art that was used for religious purpose during the mummification of the Pharaoh. Tutankhamun was a powerful pharaoh in Egypt in the 18th dynasty which lasted between 1333 BC and 1324 BC. He is identified as the eighteenth dynasty king in the history of Egypt. The discovery of the king’s tomb in 1922 by Howard carter brought about increased interest in the history of Egypt and the works of art. After the death of Egyptian pharaohs, they were preserved by the process of mummification so as to prevent decay (Cox 2004). The making of portrait in Egypt was unique especially the pharaoh mummies. The making of a mummy was a king of magical procedure that lead to instantaneous mummification and loss of life force from the king’s body. Other objects in the tomb of the pharaoh included baskets of doum fruit (it’s a product of palm tree) customarily offered during funerals (Cox 2004). The king’s official seal was made of clay which is assumed to have contained treasures that the pharaoh had to travel with to the heavens in his eternal being. King Tutankhamun commonly referred to as King Tut was very young at the time of his death. This is evidenced by the mammy that was unearthed covered in linen and preserved by mummification. The body was kept in a sarcophagus (a stone box in which a coffin can be kept). King Tut’s sarcophagus was made using yellow quartzite and was made of three coffins made of pure gold. The king’s face was reconstructed from the mummy and the body still lies in the valley of kings where his tomb is and the temperature is regulated to prevent further decay (Bailey 2005). The statues from Sumerian art in Tell Asmar appeared to be realistic, the pharaoh’s mummy is stylish and ideal as it did not make use of other material rather the real body preservation. In the year 2005, a team of scientists developed the facial likeness of the king using computer tonography scan of the Pharaohs skull. King Sargon Most of the early works of art were originally discovered during the early civilization as the works of art are related to the evolution of writing and other historical occurrences like the agrarian revolution. Sargon King ruled Akkadian dynasty in the region famously known as Mesopotamia during the period between 2340 and 2305 BC. This dynasty is believed to have been established by Sargon and it existed for about 160 years following its foundation. Sargon was one of the powerful leaders during his reign and he established a strong Semitic dynasty in the gulf region (Bailey 2005). His portrait was made as a monument to remember him throughout the empire. His rule faced a lot of rebellion and at his death; many believed that it was a punitive measure from the gods. The portrait was made to sit on a hard slab and the hand were clasped in the position of making a prayer and was naked above the waist with a skirt inquisitively made to appear as overlapping to indicate thick coat. This is because the men generally wore skirts weaved from wool and those of higher ranks had a toga like piece of clothe that was used to cover the shoulders (Evans 2007). As expected, the portrait had a long and heavy beard and long hair and these were basically painted black. The eyes were curved out clearly and that they eyebrows could be seen distinctively as emphasized with inlay that was colored. The carvings in the near east and middle east were very attractive and are considered to be very stylish as the features are very distinct and clearly engraved compared to the Egyptian sculptures which were basically slabs. The stylish carving in the Akkadian empire has been attributed to the fact that stones for sculpturing were very rare and therefore the few that could be obtained had to be given maximum attention and highest standard of creativity (Bailey 2005). It is clear that those portraits from Sumerian and Akkadian empire are very stylistic in design and the distinction can be drawn from the Egyptian types which are mostly blocks standing freely and mostly having basic geometric shapes. There being deficiency in stones, the sculptors in Sumerian dynasty and Akkadian empires relied on other alternative material like metals, wax copper and gypsum. These materials required a lot of attention and as such the stimulated sense of creativity idealism and style. Having to model clay, cast metals and heat gypsum to melt them in order to make the sculptures enabled the Tell Asmar people and those from other parts of Mesopotamia learnt to conserved the material hence making to make very good sculptures that utilized the little material that could be obtained(Bailey 2005). Conclusion The creation of sculptures developed different styles of making sculptures during the ancient times and the development of the dynasties in the near and middle east. The significant examples include the Tall Al asmar sculptures which are simply primitive forms of geometry. The progress of this lead to smoothening of curves and indicating naturalism and finally the dynasty showed attempts of portraiture References Bailey D. (2005). Prehistoric Figurines. Representation and Corporeality in the Neolithic. Routledge Publishers. Cox B. (2004). Constructing Kingship in Ancient Near Eastern Visual Culture. Art History. Dartmouth College. Evans J. M. (2007). The Square Temple at Tell Asmar and the Construction of Early Dynastic Mesopotamia. Ca 29000 to 2350 American Journal of Archeology.

One to One Communication :: Communication Body Language Health Care Essays

One to One Communication To practice one to one communication I spoke to someone who regularly attends the ‘Princess of Wales’ Hospital, Bridgend for physiotherapy on his knee after an operation 6 months ago. From this interaction I found that the service from the NHS was satisfactory and adequate, but could use some improvements. I spoke to the patient mainly about waiting times for appointments and operations, as that appeared to be the main cause for concern. I conducted the one to one interaction in the patient’s living room, so that the surroundings were familiar to him and he would feel more at ease. As the room was decorated in warm colours it created a welcoming and relaxed atmosphere, which contributed to making it easier to open up and talk freely. Skill Used ========== Comment ======= Body language I used open and friendly body language towards the client and didn’t cross my arms or anything so that I didn’t come across as intimidating. This is because body language makes a great impact on interaction. Gestures I regularly used hand gestures to put emphasis on what I was saying as gestures are a strong part of effective communication. Eye contact I regularly maintained eye contact with the client during my interaction. This helped to show that I was interested in what he had to say and also so that he knew when it was his turn to speak. Facial expressions I used appropriate facial expressions to match my topic of conversation so not to confuse the client, and to show interest in what he had to say. Open questions Open questions require extended answers and make the client feel that their opinions are valued. I tried to use mostly open questions to facilitate the conversation and so that the conversation flowed and did not feel like an interrogation. Closed questions I tried not to ask many closed questions, unless I needed more specific information, as they can make people feel uncomfortable and inhibit conversation. Probes and prompts I used probes and prompts to make the client give more in depth information and to help him to think more about the subject that I was questioning them on. I used prompts to help the client understand what I was asking by suggesting a possible answer. Paraphrasing To check that I had heard and understood the client properly I used paraphrasing as a way of reflecting back to him. Paraphrasing also helped him to clarify exactly what it is they were saying, because he had to listen to the paraphrase and work out whether that is what he meant to say. The particular individuals involved, the relationship between the individuals, the subject of the communication and the physical

Reference to two South African examples Essay

In at least one point in the day, every-one finds themselves tuned into one broadcast station or another, be it radio or television Be it for entertainment, relaxation, to be informed or merely a means of escapism. For whichever reasons it is, radio and television play an active role in our everyday life whether we are aware of it or not. Using South African examples, this assignment seeks to discuss two radio and two television genres. It is virtually impossible to discuss the issue genre before defining this term. Both the Oxford dictionary as well as Creeber (2001), defines ‘genre’ as â€Å"type† or â€Å"kind†. Genres allow for the types or kinds of things to be categorised. For example in radio broadcasting, there are various different programs aired, such as talk shows, music shows, news broadcasts, drama shows and so on. Each of these shows are categorised into a particular genre based on their characteristics. The two radio genres that will be discussed are talk shows and music shows. The phenomenon of genre is not exclusive to radio and television alone. In fact according to Greeber, â€Å"it [genre] has played an important role in the study of literature, theatre, film, television and other art and media forms† (Creeber, G: 2001 pg. 1). Radio-Talk Genre Radio stations like ‘SAFM’ and ‘702’ are almost entirely dedicated to the genre of ‘talk show’ however almost every radio station incorporates this genre if not at least for a few minutes. The success of talk shows lie in participation by the audience. The audience is urged to call into the radio station and either view their opinion on the topic of discussion or pose questions to either an officiator or a panel. On ‘SAFM’ for example, there was a program entitled â€Å"The Life and Times of Dr. Bayers Nordea†. The show was as the title implies, discussing and talking about Dr. Nordeas’ life. The show hosted family, colleagues and friends, who spoke about his life. Listeners also got the opportunity to add their comments, thoughts, as well as pose questions to the panel. The show was also officiated by the host or disk jockey (D. J) of the show, who not only directed most of the discussion, but also made sure that the show, ran smoothly. The nature of talk shows is such that the audience phones in either agreeing or disagreeing to the topic or question being discussed. This opens the door for others to voice their opinions. According to Barnard (2000), â€Å"phone-in †¦encourages a free flow of opinion and conversation within the safety of an artificially created community† (Barnard, S: 2000). With out this element, the talk show would be deemed unsuccessful. Talk shows do not follow a particular protocol, meaning that any topic can be addressed. The mere action of a D. J. posing a question relating to any topic and receiving feedback from the audience constitutes the genre of talk show to be exercised. As any topic makes way for talk shows, it is common to find small inserts of talk show, even within a primarily music radio station. Highfeld Stereo is an example of a South African music radio station. It is common to find a situation where a D. J. poses a question and opens the lines to receive feedback. The D. J is thus officiating a talk show, within a music show. Listeners of talk shows however, are required to concentrate on the discussion if they are to understand what is being discussed, thus ones attention cannot divert from one thing to another. For example, one cannot talk to a friend on the phone, as well as remain focused on the discussion. Radio-Music Genre. Although there is audience participation in the music genre, it differs from that of the talk genre. Regarding music radio, the audience is urged to call in to send dedications to friends or loved ones, choose songs they wish to hear, or vote for their favourite song rather than voice their opinions on a matter. Music as a genre is not so clear-cut like talk shows. Within the music genres, there are sub-genres, where by music is categorised according to style. Rock, rave, hip-hop and pop would all be examples of sub-genres of the music genre. The music genre requires less attention from the listener to be focused on the show. Namely, the listener can do various other activities without loosing out on the entertainment. For example, while driving a car and focusing on the road, or while working at ones desk, one can continue to listen to his or her favourite song and not be side tracked. Unlike the talk genre where if one was driving a car and focusing on the road they would more than likely loose track of what was being discussed-alternatively, they would possibly have an accident. As the genre implies, the emphasis in music shows is in fact music. Therefore it is common to find very little talking by the D. J. and more music being played. The show usually consists of popular songs in the specific sub-genre being aired. This genre also usually has a top 40 show, where the 40 most popular songs are aired. This is commonly known as â€Å"contempory hit radio† (Tomaselli/de Villiers: 1998). 5FM radio station for example has the ‘Coca-Cola Top 40’ music show which is aired every Sunday morning from 10:00- 14:00. Other radio stations like ‘East Coast Radio host the ‘Top 10 at 10’ show, which airs the 10 most popular songs every Tuesday night at 22:00. These songs which make it onto the ‘top 10’ or ‘top 40’ lists, are songs which have been voted for by the public. Jacaranda FM in contrast to the mainstream radio stations of say 5FM for example would air music of a different sub-genre, however one would still find the most popular tracks of that specific sub-genre being aired, as well as ‘top 10’ shows occurring. In the music genre, the D. Js primary job is to play music and possible talk a little bit about the artist of the track, rather than being an officiator or a mediator of discussion, as is found in talk radio. Television-Documentary Genre. As the term documentary implies, these shows are usually fact based and require research to be done on the particular topic being showed. Events are documented by a team of researchers and aired to the public. An example of a documentary would be found in the SABC 2 show â€Å"50/50†. This is a documentary program that focuses on various aspects of the wild life. Documentaries however could focus on a variety of topics, including an event, person or idea. As the emphasis of documentaries is on information, enlightenment and facts, viewers usually watch documentaries as a means of being informed, rather than being entertained. The nature of documentaries is such that each episode is fully formed and has a definite conclusion – even if left as an enquiry for the viewer to think about what they have just viewed. This allows the viewer to evaluate their knowledge of the topic against that of the show. Documentaries are also not usually serial form, as would be the case in a sitcom for example. Rather, they tend to be self-contained episodes with definite endings. Documentaries usually also adopt a narrative structure & psychological relationship of the viewers to the program. The viewer is often addressed directly, in order â€Å"to persuade the actual person watching at home that he or she is the â€Å"you† to whom the addresser is speaking† (Allen,C: 1992 pg. 118). This also keeps the viewer interested in the show as well making them feel as if they actively involved in what is going on. Due to the fact that documentaries are not entertainment focused and are rather a means of transferring information, events, people or animals being documented are portrayed as realistically as possible. Animals, which are filmed in the â€Å"50/50† program, for example are filmed in their natural environments, rather than in zoos, in order to give the viewer the most realistic experience. As they are based on real occurrences, documentaries, unlike entertainment programmes such as sitcoms, do not focus as much on a specific plot. Television-Soap Opera As soap operas were originally targeted at the female audience (Brown, M: 1994), it is not surprising to find that many of the central characters within this genre are women. More importantly, they are strong, powerful and influential characters, rather than the stereotype housewife women. SABC 3 airs the soap opera â€Å"Isidingo†. Charel de Villiers and Leigh Haynes are two examples of strong, powerful and ambitious characters that play central roles in the show. It is important for these kinds of characters to exist, in order for the audience to which the show is targeted at to be able to relate. â€Å"They [women] recognise some of there own identity in this product created by the media† (Brown, M: 1994). People watch soap operas for a number of reasons. The fact that they are entertaining, allows the viewer to unwind, relax or escape from the stresses from every day life, for the duration of the show, as the audience get lost in the reality of the program (Anderson, M: 2004). Viewers could also be using the decision-making techniques and outcomes of the soap opera to â€Å"work through† their own issues (Anderson, M: 2004). â€Å"Isidingo† is an example of a program that deals with AIDS-an issue that the whole of South Africa is facing; it also provides solutions in the form of Nandipe-a married women infected with HIV. Her positive attitude allows her to live a productive life. Viewers may see Nandipe as a role model. Those viewers infected with HIV may in fact even echo her actions in order to try and increase productivity in their own lives. Characters in soap operas are usually found in the form of â€Å"multiple characters† (Brown, M: 1994) meaning that characters emphasize the group over the individual (Brown, M: 1994 pg 53), thus many people can relate to one specific character. This also makes way for viewers to find similarities between themselves and various other characters rather than one particular character. Brown believes that rather than relating to characters in soap operas, viewers â€Å"implicate† themselves to various characters, meaning that the viewer will see similarities between a particular character, or even characters, but when the character acts in a way that the viewer does not agree with, or feel comfortable with, the viewer will distance him or herself from the character (Brown, M: 1994). Soap operas adopt a visualization style, which gets the viewer to focus and identify with a specific character (Brown, M: 1994 pg. 53). On a radio talk show for example, a TV viewer called in with the opinion that the â€Å"Isidingo† villianess, Cherel de Villiers should be punished, as if the viewer could not differentiate between reality & fiction. (Anderson, M: 2004). Apparently actors who play villainous characters are shunned offset by the public (Anderson, M: 2004). It is not only the relatable characters and entertaining style of soap operas that keep the audience hooked. It is also the continuous open-ended nature of episodes, set in the present and containing a number of alternating story lines which gives the audience sense of continuous pleasure (Brown, M: 1994, pg. 58). The fact that soap operas resists narrative closure, meaning that the story is continuous and never ending, means there is always hope for the future (Anderson, M: 2004). Thus viewers will continue to watch future episodes in order to come closer to seeing what will happen at the end (which never really comes). â€Å"John Davies (1984)†¦ suggests about soap opera viewers that once ‘hooked’, they vacillate between their need to know, or the pleasure of anticipation† that keeps viewers watching (Brown, M: 1994). In discussing two radio and two television genres with reference to two South African examples, it is evident that the complexities and intricacies of various broadcasts and genres are not as simple as one would imagine. As seen above, various genres and broadcasts draw in different audiences, and evoke various different responses in the viewer or listener. As technology continues to move forward, where will these broadcasts find themselves in the future? For now though, radio and television will continue to play an active part in almost all of our lives. BIBLIOGRAPHY Allen, Robert C. 1992. Televisions modes of address & the social context of T. V. viewing. In Channels of Discourse, reassembled. 2nd ed. Edited by Robert C. Allen. London: Routledge. Anderson, Muff. Soapies mirror SA’s soul. Mail & Guardian. 24 March 2004. Barnard, S. 2000. Studying Radio. New York: Arnold Hodder. Brown, Mary Ellen. 1994. Ch. 3: Soap opera and women’s talk: The pleasure of resistance. Thousand Oaks: Sage. Creeber, G. (ed. ). 2001. Introduction: What is genre? In Creeber, G (ed),The television genre book. London: British Film Institute, 1-7. Teer-Tomaselli, R and de Villiers, C. 1998. Radio: Theatre of the Mind. In De Beer, A (ed). Mass media toward the Millennium. Pretoria: Van Schaik, 147-175.

Economic Crisis and a Shift to the Right Essay

In 1867, after battling invaders for nearly a millennium, Hungary became an autonomous state within the Austro-Hungarian Empire. This expansive empire had its northern border in present day Poland, its southern border in present day Serbia, and was bordered on the east and west by the Black and Mediterranean Seas, respectively. The empire was eventually defeated in World War I and through the Treaty of Trianon in 1920 the monarchy was disbanded, and after a period of turmoil, an independent kingdom was established under the authoritarian rule of Admiral Miklos Horthy. Due to the terms of the treaty and the redrawing of many European borders, Hungary’s size was reduced by two-thirds, leaving more than 5 million native Hungarians outside of the country’s borders. These effects remain a sensitive issue for many today and still complicate relations between Hungary and its neighbors. In the events that led to World War II, Hungary joined forces with Nazi Germany by joining the Anti-Comintern Pact and withdrawing from the League of Nations. These measures were taken in an effort to regain its lost territory from the World War I aftermath. At the start of World War II, Hungary remained neutral, however with pressure from Germany, Hungary entered the war in 1941 by invading both Yugoslavia and the Soviet Union. After several early battle losses, Hungary began secretly negotiating with the Allies. Hearing of these negotiations, Germany invaded Hungary and installed a puppet government. This new government began eliminating the Hungarian Jewish and Roma populations until Soviet forces in Budapest drove it out in 1945. In the wake of these events, the capital and much of the country was left in ruins. The Soviet Era (1945-1989) After World War II, Communists held power in Hungary with the support of the Soviet Union. A new land reform bill was passed that redistributed land from large estate owners to peasants. Additionally, during this time, industries became nationalized and collective agriculture was instituted. Hungary joined the Warsaw Pact aligning itself with the Soviet Union. The Hungarian population, however, was dissatisfied with this government, and in an effort to appease the people, the government instituted reforms such as withdrawing from the Warsaw Pact and becoming a neutral power. These concessions on the part of the government allowed the Hungarians to realize their power and they demanded further reform and removal of Soviet domination. As a result, Hungarians revolted against the Soviet domination of Hungary. Although the Soviet Army defeated the Hungarians, killing more than 2,500 citizens and forcing more than 200,000 to flee, a new government was instituted. This government, led by Janos Kadar, was still Soviet-friendly, but recognized the need for reform and began to become gradually more liberalized through the 1960’s. The Path to the European Union (1989-2006) In 1989, Hungary was the first country to breach the â€Å"Iron Curtain†. Soon thereafter, Hungary transitioned from Communism to a multiparty parliamentary democracy that welcomed foreign investment. Initially, the result was a dramatic decline in economic activity and living standards. However, within four years of the collapse of communism, nearly half of the country’s economic enterprises had been transferred to the private sector, and by 1998 Hungary was attracting nearly half of all foreign direct investment in Central Europe. In 1994, as a backlash to its rapid liberalization, Hungarians voted the Hungarian Socialist Party (MSZP) into power. The MSZP was a center-left party and the unofficial successor of the Communists. This government supported and funded social programs while also continuing with economic reform by selling off government owned enterprises and implementing targeted austerity measures. Soon, the country’s newfound growth and stability allowed it to receive an invitation to join NATO. Despite its solid economic performance, the MSZP was affected by allegations of corruption, which led to its defeat in 1998 by a Fidesz led coalition who selected Viktor Orban as prime minister. Orban’s government created centralized control and refused to meet with opposite party leaders for months. They then adopted the â€Å"Status Law†, an effort to reach out to the displaced Hungarian natives. The â€Å"Status Law† offered native Hungarians living in neighboring countries benefits such as health, education, and employment rights in Hungary. Despite Western criticism of his policies, Fidesz did choose to continue the MSZP’s policy of satisfying the Copenhagen criteria to enter the European Union. In 2002, an MSZP coalition regained government control after Fidesz’s administration became the subject of scandals. The new Prime Minister, Ferenc Gyurscany, was able to complete the process and formally join the EU along with nine other states in 2004. After joining, Hungary began to pursue the more difficult challenge of joining the Eurozone by completing the Maastricht criteria. The Hungarian government predicted that this task could be completed by the end of the decade. Hungary’s Entrance to the Eurozone ; Failed Attempts to Join Eurozone In the late eighties, Hungary made progressive steps to position themselves for entry into the European Union. Hungary was the first country to breach the forty-year â€Å"Iron Curtain† surrounding the Eastern European countries. The â€Å"Iron Curtain† was the political, military, ideological barrier created by the Soviet Union after World War II to separate eastern and central Communist European allies from the Western noncommunist countries. In 1989, Hungary peacefully replaced their communist political party with a multi-party parliamentary democracy. As reported by the New York Times, a sweeping majority of Hungarian Communist Party voted for the radical transformation of legislation. The main motivation for the shift was due to a stagnant economy and oppressed religion under communist rule. A need for reform and free open trade with Western countries aided the Hungarian Communist Party in their decision. Before making the final vote, Hungary already began permitting the assembly and association of the non-communist parties. In 1991 Hungary completely withdrew from the Warsaw Pact, appointing the country’s first Parliament President elect. The political restructuring was aided by a shift to a free market-based economy. Liberal economic policies and ideals such as foreign investment, asset management, entrepreneurship and integrating Hungary into the world economy were adopted by the new rule. A shift from an authoritarian economic science to a democratic capitalist system was projected to be a fairly smooth process. However, despite high hopes of a prosperous economy there was a dramatic decline of economic activity and living standards. High interest and inflation rates, unemployment amounting to 12%, and the conspicuous consumption of the new elite of entrepreneurs elicited widespread dissatisfaction among Hungarians. Some economists argue that the idea of capitalism in combination with the new practice of democracy will fail if introduced simultaneously. This is what occurred in 1991 as the ambitious measures of the new parliamentary party began to fail. Life became very difficult for many Hungarians as they struggled during the severe recession exacerbated by the fiscal austerity necessary to reduce inflation and stimulate investment. After rising backlash caused by the poor state of the economy, Hungarians voted into power the Hungarian Socialist Party (MSZP) overthrowing the conservative Hungarian Democratic Forum. The MSZP was the center-left unofficial successor of the communist party. Since the MSZP was founded on traditional communist ideals, the MSZP gained majority support based on the belief that â€Å"things were better in the old days† when there were more jobs and economic security. The MSZP supported popular social programs while still progressively pursuing reform, selling state owned enterprises and implementing targeted austerity measures. For about 4 years, the reign of the MSZP was successful as there was a surge of stability and growth. Hungary also received an invitation to join the North Atlantic Treaty Organization during this time. Despite the success of the MSZP’s role in Hungary’s four-year economic stimulation, corruption plagued the party. In 1998, the MSZP lost control as the Fidesz-led coalition gained majority vote. In 1998 negotiations for Hungary’s entrance into the EU also began. Viktor Orban, the prime minister, was criticized after the implementation of controversial laws such as the â€Å"Status Law†. This law granted health, education and employment rights to native Hungarians residing in other countries. This law violated principles of the European Union. This was a horrible direction to take if Hungary had motives of joining the EU. Corruption scandals and bribery surrounding Orban’s government proved to be detrimental just as they had been for the MSZP in 1998. There was a flip flop in parties as the MSZP regained control in 2002. Picking up where Fidesz and the party left off in 1998, Prime Minister Gyurcsany implemented the final required reforms and joined the 15 country EU in 2004 along with Cyrus, the Czech Republic, Estonia, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia. After this success, Hungary began pursuing the strict requirements for membership into the euro zone, also known as the Maastricht criteria. The criteria outlined the terms regarding inflation, public debt and the public deficit, exchange rate stability and the convergence of interest rates. The MSZP had high hopes that the terms of these criteria would be reached by the end of the decade. As exhibited by similar events in Hungary’s past, the ambitious attempts didn’t quite live up to expectations. The MSZP maintained control in the election of 2006. Before this election there was a ballooning budget deficit of over 9% of GDP. This issue was overlooked, while the party promised more spending and lower taxes. In 2006, as more controversy unraveled, Prime Minister Gyurcsany admitted that his party had lied about the economic condition of the country for two years. While protests plagued the country, Gyurcsany introduced austerity measures, which included tax increases and spending cuts to trim the budget deficit to 3. 2% of GDP. According to the Maastricht Treaty, the government deficit could not exceed 3% of annual GDP. Citizens revolted and the electorate denounced the new fees, causing a major defeat for Gyurcsany’s austerity measures. A global credit crisis overshadowed Hungary’s economy in 2008 and 2009 and the efforts to meet the Maastricht criteria for the Eurozone failed. Fixed vs. Floating: What Should Hungary Have Done with the Forint Hungary lost all hopes of reaching the Eurozone as the 2008-2009 financial crisis descended upon economies. Due to falling consumer spending, Hungary suffered a trade collapse and there was a loss of confidence in forint-denominated assets among investors. In February 2008, Hungary chose to float the forint after facing substantial pressure for devaluation. By midyear, the forint began a steep depreciation, which had the effect of making Hungarian exports more attractive. This had the potential to raise Hungary’s GDP, as an increase in net exports, all other things remaining equal, will raise GDP according to the equation in Chapter 5 of the textbook Y=C+I+G+NX, where NX=NX (? ). This was not the case, however, as from 2008 to 2009, Hungary saw a 6. 7% decrease in GDP. Other aspects of the economy were at work simultaneously which led to the decrease in GDP. The depreciation of the forint also meant that Hungarian households with foreign denominated currencies saw their payments increase dramatically in terms of the domestic currency. As many Hungarians had taken on loans in foreign currencies, specifically the Swiss franc, due to low interest rates, this proved a problem for several households. These loans were of little risk when the forint was pegged to the euro, however with the currency’s recent decline, many of these loans faced default. In October 2008, Hungary’s central bank raised interest rates to 11. 5%, a 3% increase. This was an effort to equilibrate saving and investment. According to the text, increases in the interest rate serve to increase the supply of loanable funds and decrease their demand. Because Chapter 5 states that an increase in investment demand leads to a trade deficit, we can see that the Hungarian government is trying to increase its net exports to combat the financial crisis. The switch to floating the forint was intended to free Hungary to pursue economic policy independent of the Eurozone, however fears of a Hungarian default on sovereign debt forced their government to request international financial assistance. Hungary received $25. 1 billion from the IMF, World Bank, and EU, making it the first nation to receive a bailout led by the IMF. This bailout came with promises to implement austerity measures to reduce public sector pay, increase some taxes, and decrease spending on social programs. By the first quarter of 2009, Hungary saw a decrease in GDP, an increase in unemployment, and the forint became Europe’s worst performing currency. During the financial crisis, four of the eight EU countries located in Central and Eastern Europe chose to float their currencies, and only Hungary was seeing such financial and political complications. The other countries that did not float their currencies took a different strategy and defended their pre-crisis exchange rates with the Euro during the global recession. In order to remain competitive, they slashed their deficits and curbed inflation. These countries, however, were some of the worst performing in 2009. In the decision as to whether or not Hungary should have chosen to float their currency or remain pegged to the euro, it is important to compare the features of each option. A country may choose to follow hard exchange rate pegs, soft exchange rate pegs, or floating currency. Hard exchange rate pegs usually lead to sound fiscal and structural policies and low inflation. They tend to be longstanding, allowing for certainty when pricing transactions. Downsides include that the central bank has no independent monetary policy because it cannot adjust exchange rates and interest rates are tied to those of the anchor country. Another option is soft exchange rate pegs. With soft pegs, countries maintain a stable value against an anchor currency/currencies, which can be pegged within a narrow ( ±1%) or wide ( ± 30%) range. Soft pegs remain a nominal anchor to settle inflation expectations and they allow for limited monetary policy to deal with shocks. Soft pegs are vulnerable, however, to financial crises, which can lead to large devaluations and even abandonment of the peg. The third option is floating exchange rate. This rate is mainly determined by the market and central banks intervene mostly through purchases or sales of foreign currencies in exchange for local currency in order to limit short-term rate fluctuations. Depending upon the country, the central bank may be particularly involved, or not involved at all. An advantage of floating regimes is that countries have the advantage of maintaining an independent monetary policy. Measures however must be taken to ensure success. First, the foreign exchange and financial markets must be able to absorb shocks without large exchange rate changes. Also, instruments must be available to hedge risks posed by the floating exchange rate. Hungary should not have remained pegged to the Euro during the 2008-2009 financial crisis. Had Hungary remained pegged, it would have likely faced worse fates than it saw during this time period. Since the other countries who remained pegged found themselves among the worst performing nations in the region, Hungary would have likely found itself in a similar situation to Latvia who even found their IMF bailout insufficient. Since none of these nations fared well, it would have been an unwise decision for the forint to remain pegged to the Euro. In contrast, the others that decided to float their currencies during this time had mixed effects. Poland actually saw a 1. 7% increase in GDP from 2008-2009, while Romania’s GDP dropped 7.1% during the same time period. Since there was some success achieved by floating currencies during this crisis, it could be concluded that there was a difference in monetary policy that could account for the success or failure of these economies. Hungary’s decision to float the forint was a wise one, however the execution of the policies surrounding this decision should have been modified. The advantage of full control of monetary poli cy was an advantage to floating currency, although it could also be a disadvantage if the policies do not promote thecurrency’s success. Hungary should have implemented some austerity measures and set up policies to try to cushion some of the inevitable blow that would be brought on by the financial crisis and the new currency in the market. If those things had been done, Hungary may have seen less of a decline during this period and may have even prospered as Poland did. Exchange Rate of Hungarian Forint vs. USD, Euro and Swiss Franc Based off of the graphs you will be able to see what the forint was worth compared to the dollar, euro and Swiss franc. Looking at the first graph, forint and dollar comparison, the forint currency was worth around 200 to 240 dollars. The biggest difference in the currency was between 2008 and 2009, which is when they decided to float the forint. Looking at the second graph, forint and euro comparison, the forint currency was worth around 260 euros until they floated. After 2009 the value of the forint decreased making their value around 300 euros. Looking at third graph, forint and Swiss francs comparison, the forint currency was worth around 180 Swiss francs until they floated. Then in 2009 the forint value decreased making their value compared to Swiss francs around 200 to 240. Hungary decided to peg the euro and Swiss francs for different reasons. They decided to peg the euro because they ultimately wanted to adopt the euro and show some relative stability in their currency. They had a target date but it was abandoned due to their debt, high budget deficit and inflation. Hungary pegged the Swiss francs because nearly 80 percent Hungarians had foreign currency loans and 55 percent of mortgages in Swiss francs. These loans had low interest and presented little risk to borrowers. The unopposed legislation of Fidesz and Orban and its economic impact The Fidesz and Orban parliamentary election in 2010 caused some controversy with other countries but continued to unite the Hungarian nation. One of the first actions that occurred was passing a bill for dual citizenship for Hungarians living abroad to offset the negative effects of Trianon Treaty. Neighboring countries, such as Slovakia, Romania and Slovenia were frustrated with this bill, but Hungarians were very supportive because many thought the treaty was unfair. Another feud was with the IMF. Orban promised to fulfill their campaign promise and stand his ground on the loan repayment. He felt that Hungary didn’t need to repay these loans because these decisions were due to the previous MSZP-led government. International investors reacted negatively to his actions, but domestic reactions were more positive. Fidesz sought out meeting EU deficit goals through raising new taxes on the banking, telecom, energy, retains, and pharmaceutical sectors. Hungarian populations supported Fidesz while multinationals continued to lose profit. In late 2010, the government made another change to support its fiscal situation by bringing private pension assets under state control. This upset private pension fund industries and The National Confederation of Hungarian Trade Unions but increased the trust in the government from Hungarian population. They believed that the assets from pensions would help balance the budget. Lastly, the Hungarian government decided to take over the country’s rate setting Monetary Policy Council by amending a law that gave parliament the right to nominate all four external members. Despite the changes that Fidesz and Orban made, Hungary was still strong in investments. Some advantages were in fact foreign direct investments, which totaled more than $2. 5 billion. They also have been able to the meet the demands of EU since becoming a member in 2004, showing their political stability. The location of Hungary has attracted many firms by being able to connect Western Europe to other Eastern European countries. Hungary also continued to interest major multinational companies by having strong human capital. Outsiders, other foreign countries, and credit rating agencies may not have agreed with the decisions of the parliament, but it had no effect on their growth as a nation. Hungary continued their reform and growth. Is it wise to invest in Hungary? There are factors that the case touches on which suggest that Hungary is not the safest investment; however, from looking at Hungary in its totality it is undeniable that Hungary should be a European market to invest in. Location Examining Hungary’s location and its relative proximity to its neighboring European countries, helps justify why investors would want to consider investing in the country. Hungary is situated in the heart of Europe bordering seven countries with one of Europe’s largest waterways, the Danube, running through Budapest. This favorable location coupled with the major land routes and waterways that span across Hungary make the country an optimal place for manufacturing, trade, services, and logistics. This prime location, accessible within a few hours of all European countries, makes Hungary an ideal launch point for investors who plan to develop their growing businesses while capitalizing on key European markets. The central European country is known for their excellent infrastructure, their prime business parks and industrial sites. Considered a landlocked port city, Hungary is key in connecting Western and Eastern Europe. Stability and the EU As a long-standing member of the European Union, one of the major factors that also lends to the possibility of Hungary being a safe investment, is Hungary’s relative political stability. It is considered the most developed of the Eastern European countries and its highly developed infrastructure along with its stable government makes Hungary even more appealing. Hungary offers access to a market of over 250 million people within its borders as well as a European Union common market exceeding a half of a billion people. Di Tella, Weinzierl and Kuipers aptly highlight Hungary’s stability, by pointing out that since emerging from communism in 1989, Hungary had held no interim elections and the federal government was never forced to dissolve – two things most other countries in Central and Eastern Europe could not claim. The authors then continue in saying that, in addition, regardless of the political party in power, Hungary had honored the demands of the EU since becoming a member, including regulations on transparency , auditing, and budgets. Human Capital, Labor Costs and Economic Policy Other factors that help make Hungary an attractive investment are its labor costs, an investment friendly economic policy and its strong human capital. Hungary has a highly educated workforce where more than 85% of persons between the ages of 25-34 have completed secondary school; with 70% of those individuals are enrolled in some form of higher education. More impressive still are the wages that these highly educated individuals work for. The authors make mention of these low labor costs by saying: moreover, Hungary’s labor force worked for a fraction of their counterparts in the EU – in 2007, real wages in Hungary were 40 percent of the EU average. Essentially those companies willing to invest in Hungary’s human capital would be receiving a talented workforce, capable of achieving first-rate outcomes, at a discount rate. Frido Diepeveen, an operation manager at Randstad was quoted saying, â€Å"While the characteristics of a Hungarian workforce make Budapest an ideal choice of location for multinational companies, Hungarians also find the dynamic and multicultural atmosphere of corporate giants appealing, creating the right recipe for a mutually satisfying and long-lasting match between employer and employee. Young Hungarians are educated at a high level, satisfying your need for well qualified fresh graduates. † In addition to the affordable labor costs, Hungary’s economic policy welcomes foreign investment; and prior to its full absorption into the EU Hungary experienced some of the most aggressive foreign investment of any Eastern European country. Contrarily, it is true that there are some drawbacks to investing in Hungary, and one should be mindful of them before investing. The most obvious of these risks or drawbacks is the increasing rate of inflation. Hungary’s high inflation rate (of almost 8%) was the chief reason behind the country not being allowed in the Euro currency group – which had standards in place ensuring that inflation must be lower than 3% for a country to join. Hungary’s high rate of inflation coupled with their lingering government debt has prevented them from adopting the Euro as their chief currency and has left them with the much weaker forint. This has in turn led to higher taxes on businesses in an effort to counterbalance the large deficits and high rate of inflation. With companies being taxed at a much higher rate, companies are subsequently forced to either accept a lower profit margin or cut costs. Even after considering this major drawback to investing in Hungary, it is hard to overlook those key factors, which make Hungary a very appealing country to invest in. Bibliography