Disadvantages of Business Process Outsourcing Essay

In the recent decade, Business Process Outsourcing (BPO) has become a usual business phenomenon from a new business strategy in the bank industry around the world. Banks are increasingly outsourcing more activities to third parties and relying more heavily on vendors now more than ever before. (Deloitte, 2012) The Swiss bank UBS is not an exception. Since UBS set up the UBS India Service Centre in Hyderabad in 2006, parts of its back-office and middle-office functions have been outsourced to lower-cost places during the following years, such as India, China, Philippine and Poland. Most recent news says that UBS will begin outsourcing its fixed income trading platform to two technology groups in an attempt to save costs. (Reuters, 2014)†¦show more content†¦BPO that is contracted outside a companys country is called offshore outsourcing (Tas, J. Sunder, S. , 2004) Offshore outsourcing represents one aspect of how globalization is occurring in the current economies. Globalization is the interdependency of transportation, distribution, communication, and economic networks across international borders. (Gibson, Ivancevich, Donnelly, Konopaske, 2009) It means that the labor supply market is globalized and that cross-cultural management can become essential and more important than ever before. BPO is not simply moving jobs to a distant country and starting saving cost right away. BPO in the banking industry requires bank to provide on-site training, which normally takes from three months to a full year. (Overby, 2003) The training is a knowledge transfer process from one organization to another, which is necessary and critical to make sure the work can be transferred from onshore to offshore people smoothly. It’s a significant stage of outsourcing implementation, which may determine outsourcing will be a success or not. Below case shows how the offshore outsourcing is occurring during the implementation stage. Team A is UBS investment banking operations located in UK. It is planed to be offshore outsourced to an external company located in a foreign country. A team of offshore workers came to UK and started to learn tasks sitting beside their onshore partnersShow MoreRelatedAdvantages and Disadvantages of Outsourcing888 Words   |  4 PagesAdvantages and Disadvantages of Outsourcing Outsourcing is an allocation of specific business processes to a specialist external service provider. Most of the times an organization cannot handle all aspects of a business process internally. Additionally some processes are temporary and the organization does not intend to hire in-house professionals to perform the tasks. Once the task is outsourced to the service provider, he will take the responsibility of carrying out the tasks and maintainingRead MoreThe Advantages and Disadvantages of Outsourcing1442 Words   |  6 PagesWhat are the advantages and disadvantages to outsourcing in the global marketplace? In these times of great globalization where many countries have erased their borders when it comes to trade outsourcing has become an option for many companies. Whether or not to outsource is a key question that companies must consider. According to the Pros and Cons of Outsourcing, â€Å"The decision to outsource or not is a matter of finding the right balance-the balance between managing labor costs, workflow, employeeRead MoreOutsourcing And Its Advantages For A Company1225 Words   |  5 PagesEXECUTIVE SUMMARY Outsourcing can have more disadvantages for a company if the company does not take major precautions before proceeding. The purpose of this report is to (1) identify major IT outsourcing risks. (2) How to minimize the risk to out rule the disadvantages. There are many steps to successful outsourcing; here are the main ones gathered from the research. †¢ Be discreet when selecting your vendor , analyse there previous work †¢ Consult with an attorney before signing the contract †¢ MakeRead MoreOutsourcing Of Aviation Maintenance Practices And The Effects Of Globalization1352 Words   |  6 Pages Outsourcing of Aviation Maintenance Practices and the Effects of Globalization Matthew Wilkerson Embry-Riddle Aeronautical University Worldwide May 16, 2016 â€Æ' Abstract Within the aviation industry outsourced maintenance practices have become increasingly more prevalent to maintain current assets. There is generally three processes currently being utilized by the airline industry: outsourcing specific maintenance needs, in-house operations, and lastly, a hybrid approach, which entails a combinationRead MoreAdvantages and Disadvantages of Being a First Mover975 Words   |  4 PagesAdvantages and Disadvantages of being a First Mover: The timing of entry to a particular market or industry is usually important because it helps in determining a companys returns on investment. First movers are described as the first entrants to offer or sell a new product or service category in a particular industry. Some of the major advantages of being a first mover include brand loyalty and technological leadership, exploiting the switching costs of buyers, preemption of scarce assets, andRead MoreBus 401 Mod 3 Case1108 Words   |  5 PagesTUI University BUS 401 Case Study Module 3 Dr. Yi Ling Abstract Outsourcing occurs when a company either buys products or services from outside sources or sends work to outside contractors versus doing it themselves. There are several advantages and disadvantages to outsourcing to include cost savings, sharing risk and developing better leaders internally. There are also some disadvantages like lack of quality control, loss of some management functions and losing the ability to buildRead MoreOutsourcing At Schaeffer : Outsourcing1707 Words   |  7 Pages Case Study 1 : Outsourcing at Schaeffer Gayathri Kadiyala Wilmington University TABLE OF CONTENTS Outsourcing definition †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Concept of outsourcing †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦. 3 Outsourcing at Schaeffer †¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8 Outsourcing: Outsourcing is a process of a company obtaining the services from an outside vendor. 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Outsourcing has its advantages and disadvantages that organizations will have to weigh to decide whether or not outsourcing is the best possible solution to their current problems and business operations. Outsourcing refers to the process of hiring external provider to operate on a business or organization function (Venture Outsource, 2012). In this caseRead MoreOutsourcing HR: Assignment Instructions1175 Words   |  5 Pagescontractor to perform these functions for your company, you will be able to dictate only the results you wish to achieve. How to complete the tasks for you will be the prerogative of the contractor. Step 3 Evaluate the costs and benefits of outsourcing each task you are considering. This means conducting research on what a qualified contractor will charge to effectively perform the task on a regular basis. Then, you need to balance this cost against the impact the task has on your HR department

Love Is The Most Powerful Emotion - 1113 Words

I choose to write my paper on what’s love? Do you know what love is? Why do we ask what love is? Love can be many of things people have their own opinions of love and what love actually is. Love is not only intimate. As a person first falls in love at least a thousand brain parts start to light up. The brain release hormones, feelings and butterflies. Love is also loving a person unconditionally no matter what. Love is the most powerful emotion a human being can experience. In today’s society it’s hard for people to know what true love is. At times I ask myself why it is so hard to find love. I believe the word love is abused. When people use the word love it is used as an expression of affection towards someone else. For example, I love†¦show more content†¦When humans are going steady in receiving love and giving love, we don’t ponder such philosophical questions. It’s usually when something is lacking or not the same we begin to contemplate what that thing really is. For, example nobody goes to subway and ask what’s a sub. So, when we ask what is love? We don’t fell loved all the way or someone feel we don’t love them all the way. So ac cord to the Chabad post the real question you should be asking is â€Å"Am I loved?† or â€Å"Do I love?† These are the two main reasons people ask what’s love. It’s easier to ask what love is rather than am I loved. When we the people are loved we tend to feel it in our guts. How does love really work though? In fact it’s really not as complicated as it sound, but the truth is our hearts take cues from our senses. Everything we feel, touch, smell, and hear is in touch with the universe and teaches use about the universe. So some things we just don’t need to question. Our sensory organs send messages to the brain, and our brain read the messages and send the message to our heart. â€Å"So, if we see a loving smile, hear loving words, or feel a loving touch, the brain processes this information and concludes, â€Å"Hey, we are being loved right now!† Love can also be letting someone go. Love don’t mean you own the person or mean that’s your possession. ForShow MoreRelatedComparing Emotions : Love And Hate881 Words   |  4 PagesComparing Emotions: Love and Hate Emotions come with every thought and action that is had throughout the day. Whether it is an emotion towards an academic class, the nerves of meeting someone new, or even what is felt about the day as a whole; there is always an emotion that is being felt. The two most extreme emotions are hate and love. Most sub-emotions come from these two powerful feelings. Anger, happiness, sorrow, and anxiety can all be results of both love and hate. To most, these emotions seemRead MoreThe Greatest Emotion- Somewhere I Have Never... E.E Cummings998 Words   |  4 PagesThe Greatest Emotion In the poem â€Å"somewhere i have never...†, author E. E. Cummings personifies the feeling of love and the almost mysterious and uncontrollable supremacy it seems to have over men. The poem is referring to the ability of the author’s, what seems to be, lover to affect him with â€Å"[her] most frail gesture[s] are things which me† (3). And yet, the author starts the poem by referencing his inexperience with love and almost expresses a wonder to this new experience (Cummings, 1). Read MoreTheme Of Sonnet 1161025 Words   |  5 PagesLove is an emotion and feeling that will either fade away as time goes by or stay with a person for a lifetime. Love is not only between opposite sexes but rather between the thought of humankind. In a poem written by Shakespeare, he discusses the idea of love staying the same under any challenge that an individual may face throughout their lives. â€Å"Sonnet 116,† written by Shakespeare argues that love is powerful and th at time is mainly influenced by the thought of love. The central message of thisRead MoreThe Theme Of Love In Hard Times By Charles Dickens1366 Words   |  6 Pagesarticulated by the American author Leo Buscaglia, â€Å"Man has no choice but to love. For when he does not, he finds his alternatives lie in loneliness, destruction and despair.† Love truly is an essential emotion that forms and strengthens one’s character, allowing one to empathize and connect with others. However, this powerful emotion is often undervalued and ignored in society, where the need for Fact triumphs over the need for love, and the mind is cultivated at the expense of the heart. Such a societyRead MoreOthello, By William Shakespeare990 Words   |  4 Pages Love and jealousy are powerful emotions that can induce behavior that would otherwise not normally be warranted. In Othello, The Moor Of Venice, jealousy is a very important component of the play. Iago uses jealousy to control the Moor, Othello, into committing various acts against his wife, Desdomona, and one of his soldiers, Cassio. It can be deduced that the sheer power of jealousy is the most important theme in Othello because the play shows how a strong General, such as Othello, is subjectRead MoreLove Has Many Definitions Essay791 Words   |  4 PagesWhat is love? Webster defines love as â€Å"a strong affection for another arising out of kinship or personal ties maternal love for a child (2): attraction based on sexual desire: affection and tenderness felt by lovers (3): affection based on admiration, benevolence, or common interests love for his old schoolmates.† Love comes in many forms. Unconditional love, the love of a mother for her child, romantic love, the love for your partner and passion or lust, a more sexual emotion towards a personRead MoreJohn Donne Speech732 Words   |  3 PagesMessages from A Valediction: Forbidding Mourning) â€Å"Love is the most powerful emotion a human being can experience.† this quote is by Adrian Catron from the Huffington Post. This quote helps us understand how powerful love really is. It is an emotion that can a person go mad or be in perpetual happiness. In the case of John Donne he is a small amount of both crazy and happy. Vincent Hanley states in the article Poetry of John Donne, â€Å"One-sided love is not love at all.† The author of this quote is very inRead MoreThe Child s Bath, By Mary Cassatt1425 Words   |  6 PagesIt is a calming remedy; it is a way to suppress secrets, emotions, and desires within an individual s mind. The Child’s Bath, by Mary Cassatt, is one such painting that brings you to experience the powerful emotion of a mother’s love. Mary Stevenson Cassatt was an American impressionist painter. Cassatt is most remembered for her noteworthy paintings that portray special moments captured between a mother and her child. Cassatt stated, â€Å"I love to paint children. They are natural and truthful.† ThisRead MoreAnalysis Of The Captains Verses By Pablo Neruda1191 Words   |  5 Pagesbook â€Å"The Captain’s Verses† by Pablo Neruda, there are many love poems. Poems that express different ways of loving someone. I decided to pick Nerudas body of work because of how smooth and elegant his poems sound. They express so much passion towards a person and also send a message. When reading his poems I would be able to understand the emotion the poem carried. This is the first thing that caught my attention from his poems. The emotions each and every one of them carried. In his poem â€Å"LovelyRead MorePresentation of Loss in Birdsong998 Words   |  4 Pagesnot the only form loss suffered during this time. Standing side -by -side with the loss of life is the loss of love and the loss of faith. Faulks uses vivid descriptions and contrasting images to place the reader at the scene and make them empathise with the characters. Loss is one of the most poignant themes in the book, and is one that fuels a majority of the lines written. The most common understanding form of loss associated with the First World War is the great loss of life. Faulks chose to

The Journey of becoming oneself free essay sample

The journey to be oneself In todays world, we are used to being disguised. Whether for the fear of rejection by others or for the fear of disappointing ourselves. Often, we are simply afraid to find out who we really are. But not always are we disguised or afraid. Sometimes we simply go through life thinking we are something that we are not. We mistake the identity that we have created for ourselves for our real soul. And this is a big challenge on the journey of finding ourselves: not to be deceived by what seems to be our personality on the surface, but to dig deeper and find out who we really are. College is known as one of the best places to embark on this journey. But why is the journey known to be so risky? Besides the fact that it is easy to mistake whats on the outside for whats on the inside, there are deeper, more important, and therefore, more dangerous risks that come with being oneself. We will write a custom essay sample on The Journey of becoming oneself or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In my understanding, one of those is is the fact that others dont always accept us for who we are. That is a well known truth. However, a less well known, yet such a simple fact is that we, ourselves, dont always accept us for who we are. So what is the danger of fully accepting not only our strengths but also, weaknesses that none of us is spared of? Everybody wants to be perfect, that is why. And with accepting and acting fully like ourselves and not superheroes that we all want to be, comes a high possibility of disappointment and confusion. What if someone who thought himself brave and courageous finds out he is in reality a coward? Imagine the disappointment and devastation that person must feel. Therefore, perhaps even harder than finding out who we are is accepting who we are. The answer is to learn to love oneself completely and to embrace self-identity. Without knowing of ourselves, we are lost in this world. As cliche as it sounds, we cannot begin to try to understand the world around us without first understanding ourselves at the deepest, most personal levels. It is so beautiful to be the way we really are, without fear, without any limitations, that I sometimes wonder why so many people try to deceive themselves and those around them. From the beginning of time, philosophers, scientists, fortune tellers and all the other people were searching for the Truth, so why is everybody running away from it? Truth- it is greater than any of us will ever be, why not make ourselves, in body and soul, a small part of it? I have always valued honesty. The ability of being fair and honest is at the top of my list of values, along with the ability to be kind and compassionate. I have tried my best to be honest with those around me, but moreover, with myself. For those reasons I think that I have made considerable progress in my journey of understanding myself. However, college will definitely change life as I know it. I am looking forward to the exciting new experience of living on campus. Despite all the influences I will encounter, I have promised myself that I will not compromise my values and will stay true to myself. It is easy to get carried away by the desire to be accepted among classmates at college. That is one of the biggest dangers of not being able to find oneself during this extremely important college years.. Of course it is important to form good, lasting friendships, but it is even more important to do so without compromising who one is as a person. If a student changes his personality and becomes somebody who his friends want him to be, somebody other than his true self, he is lost. Despite numerous challenges and temptations that a student will encounter during college years, it is the perfect place to discover oneself with which comes the realization of ones real dreams and goals, and to, ultimately, begin leading a beautiful life. God has created such a beautiful and balanced world. The core of our being- our souls are as beautiful as the world around us. I believe that only knowing, really knowing who we are on the inside will result in us being more in tune with the outside world. The journey of becoming and staying yourself always, no matter the situation, is not easy. One may encounter disappointment and will certainly experience a great deal of confusion along the way. But one must have the courage and character to continue, despite the difficulties. It is a long, but rewarding journey of understanding and enlightenment. A journey that one day will lead to the individuals true happiness, and perhaps, if more and more people start to look into their souls for answers instead of their minds that work on the â€Å"survival of the fittest† principal, we will all live in a better world.

Macbeth - Tragic Hero Essays (482 words) - Characters In Macbeth

Macbeth - Tragic Hero The character of Macbeth is a classic example of a Shakespearean tragic hero. There are many factors which contribute to the degeneration of Macbeth of which three will be discussed. The three points which contribute greatly to Macbeth's degeneration are the prophecy which was told to him by the witches, how Lady Macbeth influenced and manipulated Macbeth's judgment, and finally Macbeth's long time ambition which drove his desire to be king. Macbeth's growing character degenerates from a noble man to violent individual. The prophecies which were told by the witches were one of the factors which contributed to the degeneration of his character. If it had not been for the witches telling him that he was to be Thane of Cawdor, Thane of Glamis, and King of Scotland, Macbeth would still be his ordinary self. As a result of the prophecies, this aroused Macbeth's curiosity of how he could be King of Scotland. As the play progresses, Macbeth slowly relies on the witches prophecies. Shakespeare uses the witches as a remedy for Macbeth's curiosity which corrupts his character. The influence of Macbeth's wife, Lady Macbeth also contributed to his degeneration of character. Lady Macbeth's character in the beginning reveals that she is a lovable person. When Lady Macbeth was ready to kill King Duncan herself, it showed that Lady Macbeth could not murder King Duncan because he reminded her of her father. This proves that Lady Macbeth has a heart deep inside her. Lady Macbeth plays an important role in this play because she provided a scheme which caused Macbeth to assassinate King Duncan. After Macbeth had killed King Duncan, he later regrets on his wrong doing. At the point of this play the audience can note the change in Macbeth's character. Macbeth's first murder was a trying experience for him, however after the first murder, killing seemed to be the only solution to maintain his reign of the people of Scotland. Therefore, it was Lady Macbeth who introduced the concept of murder to Macbeth. Macbeth's ambition also influenced his declining character. However, Macbeth's ambition had not been strong enough to carry the motive to kill King Duncan. Lady Macbeth's influence also comes in to play because if not for Lady Macbeth, his ambition would not have been intensified enough to drive him to obtain and maintain his title of King of Scotland no matter what it took, even if it meant murdering. Macbeth's ambition influenced the cause of his new character. This new character of Macbeth contained greed, violence, and power hunger. Macbeth shows this when he kills King Duncan. In conclusion, the prophecies given to him by the witches, Lady Macbeth's influence and plan, and his intensified ambition, all contributed greatly to his degeneration of character which resulted to his downfall...death. Therefore Macbeth character displays strong signs of a tragic hero, making him the ideal classic example.

Strategic Planning at the Chronicle Gazette Essays

Strategic Planning at the Chronicle Gazette Essays Strategic Planning at the Chronicle Gazette Essay Strategic Planning at the Chronicle Gazette Essay Student Name: Lee Cheuk Fung Jerff Student ID No. : LE0002110 Course No. : MGT 195 Course Name : Business Policy and Strategy Title of the Assignment: Strategic Planning at The Chronicle Gazette Date of submission: 8 DEC 2011 TABLE OF CONTENTS 1. Introduction 3 2. State of the newspaper publishing industry today 2. 1Data on Circulation and Revenue 4-6 2. 2 Top 20 U. S. Newspapers Print Circulation 7-8 3 Why newspapers are facing declining circulations and revenues? 3. 1 External Assessment . 11 Rise of the Web , Internet and free information 9 3. 12 Economic downturn put company into the trouble 9 3 Internal Assessment of The Chronicle Gazette 4. 13 Strengths 10 4. 14 Weaknesses 10 4 Strategies in publishing industry to cope with the Challenges 11,12 5 Steps to deal with the challenge 13 6. 1 Short-term steps 6. 2 Long-term steps Strategic Planning at The Chronicle Gazette 1. Introduction The Chronicle Gazette is a leading newspaper in the United States with a circulation of 225,000 customers. Over the past few years, it has been facing a decline in its customer base and revenues. This is mainly due to the increasing dominance of the Internet as a means of disseminating information and news. Susan Feinman, the publisher of The Chronicle Gazette, noted the criticalness of the problem and worried this will become the 21st century equivalent of buggy whip manufacturers. The company is not looking for band-aid solutions but an insight of all the challenges and to work out an effective business strategy. As The Chronicle Gazette has been a steady decline in subscriptions and revenues, this report will present the strategic vision of where the newspaper publishing industry stands today and where it is headed over the next decade. 3. State of the newspaper publishing industry today The U. S. newspaper industry is in the midst of a historic restructuring, buffeted by a deep recession that is battering crucial advertising revenues, long-term structural challenges as readership to free news and entertainment on the Internet, and heavy debt burdens weighing down some major media companies. As the distress mounts – seven U. S. newspaper companies have filed for bankruptcy in the past years – lawmakers are debating possible legislation to assist the industry. Additionally, the Federal Trade Commission (FTC) will hold a series of workshops in 2009 to look at challenges facing newspapers, television, and radio in the Internet age. There are now about 1,400 daily newspapers in the United States and thousands of community papers, which generally publish weekly or biweekly. A handful of papers, including the Wall Street Journal, USA TODAY, and the New York Times, have a national print readership topping a million or more. The top 50 papers account for about a third of circulation, among them the big city papers that had some of the largest circulation declines in 2008. Overall, the newspaper industry, including printers, reporters, advertising salespeople and other personnel, was a roughly $50 billion business in 2002, according to Census Bureau data, employing about 400,000 people. Over the past few years, there has been a steady decline in the readership of newspapers. Anincreasing number of people are using the Internet to read and view news online for free. Due tothe advancements in Internet, people have free access to news and information online twentyfour hours a day and seven days a week. The news content is available in real time and can beaccessed anytime anywhere in the world. The majority of these online news providers do not levy a fee. As a result, the number of readers willing to pay for news content is reducing and this has a direct impact on the sales of newspapers. 2. 1Data on Circulation and Revenue The following tables and data demonstrating the decline of print circulation and revenue of the newspaper industry A) U. S. Newspapers Circulation in the last decade U. S. Newspapers Circulation forecast Starting decline from the early 90’s (B) Top 20 U. S. Newspapers Print Circulation (Six-Month Period Ending in March 2009) Daily PrintSix Months NewspaperCirculationEnding Mar 2009 USA TODAY 2,113,725 -7. 46% The Wall Street Journal 2,082,189 0. 61% The New York Times 1,039,031-3. 55% Los Angeles Times 723,181 -6. 55% Th e Washington Post 665,383 -1. 16% New York Daily News 602,857 -14. 26% New York Post 558,140 -20. 55% Chicago Tribune 501,202 -7. 47% Houston Chronicle 425,138 -13. 96% The Arizona Republic 389,701 -5. 72% The Denver Post 371,728 NA Newsday 368,194 -3. 01% The Dallas Morning News 331,907 -9. 88% Minneapolis Star-Tribune 320,076 -0. 71% Chicago Sun-Times 312,141 -0. 04% San Francisco Chronicle 312,118 -15. 72% The Boston Globe 302,638 -13. 68% Cleveland Plain Dealer 291,630 -11. 70% Detroit Free Press 290,730 -5. 90% The Philadelphia Inquirer 288,298 -13. 72% Source: Nielsen Online and Editor Publisher. (C) Newspapers Advertising Revenue (D) Top 25 U. S. Newspapers Circulations As of mar 2011 Why newspapers are facing declining circulations and revenues? 4. 2 External Assessment 3. 11 Rise of the Web , Internet and free information The key challenge of traditional newspaper are too much free information from everywhere, internet , web, free newspaper and app. People can know all the things though the forum of a website. And the development of iphone , ipad, and smartsphone let the electronic reading grow fast. Prin t circulation for daily papers fell by 13. 5% from 2001 to 2008, and 17. 3% for Sunday editions. Losses are mounting. Average daily newspaper print irculation fell 7% alone during the six-month period ending March 31, 2009, compared too the same period in 2008 As print circulation declines, online readership is soaring. U. S. newspaper websites averaged more than 73 million individual visitors a month in the first quarter of 2009, up 10. 5% from the same period in 2008. Newspapers are attracting online readers from well beyond their local communities including other cities and countries. Newspaper executives point to surging online readership as an endorsement of their product, saying public interest in news has increased, not diminished. But readership trends are complex, as habits and preferences evolve in response to the enormous array of information available on the Internet, television, and through devices such as hand-held readers and cell phones. Though readers want news, they do not necessarily want it from a traditional paper, and are using multiple sources. For example, there is just one newspaper in the top five news websites. The biggest news websites, in descending order are : MSNBC Digital Network, CNN Digital Network, Yahoo! News, AOL News, and NYTimes. com. MSNBC had nearly twice the online audience of the New York Times. Now is the technology era, television, radio and internet is more popular. The reader can more easily get some information and up to the minute news in them. They are the most threats to newspaper publishing industry. The Chronicle Gazette has the fixed supplier to furnish to the paper and printing inks, also long-term cooperation between us. Therefore, the bargaining power of suppliers is in medium-high level. Many competitors exist in the market. Also, the substitute products come out, such as Yahoo, MSNBC, Hotmail and 24-hours cable news, etc. In additional, they are free. The readers will towards them. Therefore the bargaining power of customers is high. Other so-called aggregators run websites that mix links to newspapers’ stories with some original content, and bloggers frequently mingle newspaper and other reporting with their own commentary and insights. Increasingly individual stories are displayed on the Web as discrete products, separate from a broader newspaper. About 22% of readers who visited newspaper websites arrived indirectly, by first clicking onto online search engines like Google, with another big share arriving through the front page of Web portals like Yahoo or MSN, according to one analysis. A separate 22% came from traffic moving between media and news websites, containing links to specific stories. Once readers arrive at newspaper websites, they spend less time there, on average, than print readers spend reading a traditional newspaper, though some studies show that time online has been increasing. Web readers spend an average of 53 minutes a week with newspapers – or just under eight minutes a day. It is also found, however, that 22% of readers had recently dropped a paid print newspaper or magazine subscription because they could get the paper free online. 3. 2 Economic downturn put company into the trouble The financial crisis in 2008 and the European debt problem let the newspaper industry is in trouble. Some large newspaper companies took on significant debt shortly before the economic downturn hit. Legacy costs are a complicating factor. Many newspapers have traditional, defined-benefit pension plans, which now appear underfunded due to large losses in mar ket investments. It will have to make bigger cash contributions to its pension plans in coming years than previously expected, due to poor market returns and changes in pension law. The company cautioned investors that â€Å"the contributions will place additional strain on the company’s liquidity needs. Investors have soured on newspapers. Some large newspaper companies saw their stock prices drop by more than 80% last year – far beyond the overall decline in the publishing industry and various stock indices. Newspaper stock prices rebounded a bit in 2009, but are still near historic lows. With revenues declining and their ability to raise new capital impaired, some newspaper companies are in danger of breaching financing agreements with their lenders. If that happens, lenders could terminate lines of credit and call in existing loans. 3 Internal Assessment of The Chronicle Gazette 4. 1 Strengths * Good reputation on brand name for good quality * Accumulated significant market share * With experienced and professional workforce * Conservative corporate investment policy which had minimized lost during the economic recession * Top Managements all have the will to change and are ready for transformation 4. 2 Weaknesses Deficient in proactive action to the challenge of Internet and Web threats * Without a focus work team to nurture innovative ideas and develop new products * Inadequate of interaction with audiences in both online website and traditional print newspaper and so can have updated news. * Insufficient technology knowledge and experience in terms of people and equipments * A rigid hierarchy organizational structure which impede employees’ motivation to propose new ideas or changes 5. Strategies in publishing industry to cope with the Challenges The newspaper industry in the United States is faced with multiple challenges of reducedreadership, increased costs and competition from new media companies, such as Google. Amajority of the newspapers have online versions of their editions on websites. They have alsoother measures to increase circulation and improve profitability. Newspapers have increased the prices for both the subscriptions and single buy purchase. They are also analyzing the markets they serve to understand the cost-benefit dynamic of each market. As a result, some newspapers have cut back on circulation to remote areas where the revenues earned are more than the cost of delivery. The Wall Street Journal is one of the leading newspapers in the United States, which has changed its market strategy and business model to overcome the challenges in the publishing industry. Through its website, www. wsj. com, the paper provides online access of its news content to readers. As of April 2010, the Wall Street Journal had 414,025 e-subscriptions. Though the website is available online, not all of the content is free. The Journal has formulated a mixed price strategy where it provides both free and paid content. The popular sections of the news content, such as politics, sports, arts and entertainment is free. Niche coverage such as editorials, opinions and articles on business and financial topics can be viewed only for a fee. Indepth coverage, analysis, opinions and reviews are available only to paid users(PricewaterhouseCoopers, 2010). By adopting this strategy of free and paid access, the WallStreet Journal has been able to increase its e-readership base. The free access to popular content attracts more traffic on its website. This brings in more advertising revenues and increases profitability. At the same time, it helps in building a relationship with new readers. They are aware of the useful content available on wsj. com and are willing to pay for more in-depth coverage and analysis. Another important measure taken by the Wall Street Journal is embracing the digital revolution and becoming a part of it. The Wall Street Journal is available on Apple’s iPad. This move helps the Journal to widen its market and tap younger readers who are technologically savvy. As of June 2010, the Journal had sold more than 10,000 subscriptions and generated $2. million in revenues from the iPad (Business Insider, Inc. , 2010). There are companies at the other end of the spectrum in the newspaper industry who have adopted drastic measures to cope with the challenges. The Seattle Post-Intelligencer was facing significant losses for a few years. In 2008, the paper’s losses amounted to $14 million. As aresult, i ts owner The Hearst Corporation decided to shut down its print operations (GuardianNews and Media Limited, 2010). The Company had to make the hard decision of stopping publication of the 146-year old newspaper. It stopped delivery to nearly 117,600 weekday readers (Hearst Seattle Media, LLC, 2010). In March 2009, the Seattle Post-Intelligencer rolled out its final print edition. It decided to publish only the online version, www. seattlepi. com of the paper. The paper reduced its staff headcount drastically from 165 to 20 (PricewaterhouseCoopers, 2010). Since the paper transformed into an entirely digital web format, its website, www. seattlepi. com, has had 4 million visitors per month with 40 million page views. With a reduced headcount, the website covers major topics, such as politics, sports and local happenings by itself. It also sources stories through wire services and other news agencies. The website also makes use of 150 local bloggers for regional content (World Editors Forum, 2010). 6. Steps to deal with the challenge 7. 1. Short-term steps For the short-term, The Chronicle Gazette should study its organization structure and ensure that the human capital is being effectively used in the business. And it will publish the edition tabloid for free. And we will recruit the new employee have experience in technology, he will establish the E-newspaper and for future technology and internet issue. . 2. Long-term steps Adopt a multimedia mindset, viewing the business as a portfolio of products and services with different business models, pricing and distributions strategiesWe establish email and discussion area in our web-site for the reader offer the information. First of all, it is to attract much more reader to our platform. Second, we will know their favorite orientation in they provided the data. T hird, it can increase the subject in our newspaper and E-newspaper by reader offered data.

A Sociological Understanding of Moral Panic

A Sociological Understanding of Moral Panic A moral panic is a widespread fear, most often an irrational one, that someone or something is a threat to the values, safety, and interests of a community or society at large. Typically, a moral panic is perpetuated by the news media, fueled by politicians, and often results in the passage of new laws or policies that target the source of the panic. In this way, moral panic can foster increased social control. Moral panics are often centered around people who are marginalized in society due to their race or ethnicity, class, sexuality, nationality, or religion. As such, a moral panic often draws on known stereotypes and reinforces them. It can also exacerbate the real and perceived differences and divisions between groups of people. Moral panic is well known in the sociology of deviance and crime and is related to the labeling theory of deviance. Stanley Cohens Theory of Moral Panics The phrase moral panic and the development of the sociological concept is credited to the late South African sociologist Stanley Cohen (1942–2013). Cohen introduced the social theory of moral panic in his 1972 book titled Folk Devils and Moral Panics. In the book, Cohen describes how the British public reacted to the rivalry between the mod and rocker youth subcultures of the 1960s and 70s. Through his study of these youth and the media and public reaction to them, Cohen developed a theory of moral panic that outlines five stages of the process. The Five Stages and Key Players of Moral Panics First, something or someone is perceived and defined as a threat to social norms and the interests of the community or society at large. Second, the news media and community members depict the threat in simplistic, symbolic ways that quickly become recognizable to the greater public. Third, widespread public concern is aroused by the way news media portrays the symbolic representation of the threat. Fourth, the authorities and policymakers respond to the threat, be it real or perceived, with new laws or policies. In the final stage, the moral panic and the subsequent actions of those in power lead to social change in the community. Cohen suggested that there are five key sets of actors involved in the process of moral panic. They are the threat that incites the moral panic, which Cohen referred to as folk devils, and the enforcers of rules or laws, like institutional authority figures, police, or armed forces. The news media plays its role by breaking the news about the threat and continuing to report on it, thereby setting the agenda for how it is discussed and attaching visual symbolic images to it. Enter politicians, who respond to the threat and sometimes fan the flames of the panic, and the public, which develops a focused concern about the threat and demands action in response to it. The Beneficiaries of Social Outrage Many sociologists have observed that those in power ultimately benefit from moral panics, since they lead to increased control of the population and the reinforcement of the authority of those in charge. Others have commented that moral panics offer a mutually beneficial relationship between news media and the state. For the media, reporting on threats that become moral panics increases viewership and makes money for news organizations. For the state, the creation of a moral panic can give it cause to enact legislation and laws that would seem illegitimate without the perceived threat at the center of the moral panic. Examples of Moral Panics There have been many moral panics throughout history, some quite notable.  The Salem witch trials, which took place throughout colonial Massachusetts in 1692, are an oft-mentioned example of this phenomenon. Women who were social outcasts faced accusations of witchcraft after local girls were afflicted with unexplained fits. Following the initial arrests, accusations spread to other women in the community who expressed doubt about the claims or who responded to them in ways deemed improper or inappropriate. This particular moral panic served to reinforce and strengthen the social authority of local religious leaders, since witchcraft was perceived to be a threat to Christian values, laws, and order. More recently, some sociologists have framed the War on Drugs of the 1980s and 90s as an outcome of moral panic. News media attention to drug use, particularly use of crack cocaine among the urban black underclass, focused public attention on drug use and its relationship to delinquency and crime. The public concern generated through news reporting on this topic, including a feature in which then-First Lady Nancy Reagan participated in a drug raid, shored up voter support for drug laws that penalized the poor and working classes while ignoring drug use among the middle and upper classes. Many sociologists attribute the policies, laws, and sentencing guidelines connected to the War on Drugs with increased policing of poor urban neighborhoods and incarceration rates of residents of those communities. Additional moral panics include public attention to welfare queens, the notion that poor black women are abusing the social services system while enjoying lives of luxury. In reality, welfare fraud is not very common, and no one racial group is more likely to commit it. There is also moral panic around a so-called gay agenda that threatens the American way of life when members of the LGBTQ community simply want equal rights. Lastly, after the 9/11 terrorist attacks, Islamophobia, surveillance laws, and racial and religious profiling grew from the fear that all Muslims, Arabs, or brown people overall are dangerous because the terrorists who targeted the World Trade Center and the Pentagon had that background. In fact, many acts of domestic terrorism have been committed by non-Muslims. Updated by Nicki Lisa Cole, Ph.D.

Principles of Economics Essay Example | Topics and Well Written Essays - 2000 words

Principles of Economics - Essay Example Inflation has different components, phases and forms. For example, deflation and inflation are often defined in relation to the amount of general supply of money viz a viz the economys ability to generate goods and services This article will aim at discussing the causes, effects, impacts and importance of inflation in an economy There are various causes of inflation which have been put forward by various economists. The first type of inflation is the Cost Push Inflation. This type of inflation occurs when firms respond to the increase in production costs, by increasing prices in order to retain their profit margins. When general costs increase the firms have few options on how to absorb the costs from within, this situation forces the organization to pass on this cost to the consumers. The rise in prices may be triggered by several factors, these factors being an increase in the cost of imported raw materials. This may occur in countries which heavily rely on exports of such products. On the other hand, this may also occur by a fall in the rate of the pound in the international currency exchange a market which raises the UK price of imported products. An illustration of cost push inflation occurred when British gas and alternative energy suppliers decided to increase the prices of gas and electricity. This strategy made energy producing firms to charge different prices for the domestic and foreign markets during the period between years 2005 and 2006. The other cause associated with cost-push inflation is due to the increase in labor costs. When labor costs increase, the effects of this measure on the company production is passed over to consumers.   This cause is significant in those firms and organizations which are labor-intensive. Some industries may opt against passing this high cost to the consumer since they might be able to cover cost in other ways but in the long run they may be forced to increase