Enron Weather Derivatives Case Summary Essay

Pacific Northwest Electric was a significant producer of electric power. Seasons are a big deal to electricity companies: the colder the weather, the more electricity consumers use to power their heating. Looking back the last few years, CFO Mary Watts (an incredible electricity pun!) noticed a trend of relatively warm winters which in turn resulted in less-than-optimal financial results. Though the 1990’s are remembered as a time of a healthy economy, PNW suffered from a stagnant earnings-per-share growth during this period. After receiving a report of yet another warmer winter coming, Watts turned to a product offered by Enron Corporation that claimed to minimize weather-related volume risk. There are many reasons derivatives could help PNW’s exposure to weather risk. For example, on a much smaller scale ice cream stores often go out of business because though summer sales are great, managers do not know how to take out loans and insurance to keep paying employees and other expenses during the off-season. PNW works the opposite way, with less demand in the summer, but the loss of demand in the winter months could be compensated for by using the derivatives product and smoothing revenue. The risk of stock-outs and lost-opportunity costs could be hedged. The derivatives could also help stimulate sales and overall diversify investment portfolios with correlation between weather and return, whereas futures were only being used to hedge against price risk by agreeing to deliver or accept a commodity at a certain time and price. The way the product worked is that PNW would be able to determine how much margin it would lose if the weather, measured by temperature, differed from the average readings in their geographic location. How much risk tolerance as far as planned income loss from weather could be set up by the company. In the end, the company would receive a payment to offset lost income from reduced demand if the result was below the original threshold. This would be called a floor, because the variable fell below the threshold though upper potential was still available. Other structures could be a ceiling cap that compensates if variable goes above or a collar which combines attributes of both the floor and ceiling cap and can be great when it essentially. funds the purchase of insurance. A swap can produce similar results, except for its actions are triggered singularly whereas the collar relies on two separate tools. It is important to note that weather derivatives would not be included under an accounting rule that pertained to hedges under a market index rather than customized contracts. Watts took into consideration correlation and geographic differences to realize that PNW needed protection from weather risk. Contracts she would approve to enter into with Enron would require an initial payment for entry, but would mean the company would receive a one-time payment at the end that adjusted to weather results and agreed tolerance levels. Whether or not the premium is worth it depends on the weather which has experienced a bad historical trend but in the end is quite unpredictable. The decision for a conservative company to enter this kind of contract is one that requires thought, but the largest focus should be setting threshold levels.

The Crisis in Darfur, Sudan Essay - 832 Words

The Crisis in Darfur, Sudan Genocide, the attempt to destroy a people because of their presumed race or ethnicity, remains alive and well. The definition of genocide as given in the Websters Dictionary is The deliberate and systematic extermination of a national, racial, political, or cultural group. This definition depicts the situation in 1994 of Rwanda, a small and poor central African country. What makes this crisis particularly shocking is the structural character of the violence: villages have been torched, and civilians have been deliberately targeted by bombing, summary executions, massacres and systematic rape as part of a strategy of fear instigated by the Sudanese military and the so-called Janjaweed, armed and†¦show more content†¦The front lines between Sudanese government and rebel forces, humanitarian presence has brought stability and tranquility as long as it has coincided with the disengagement of the warring parties. In Jebel Marra, for instance, the deployment of aid agencies was connected to guarantees from rebel forces to stay away from IDP locations and access roads, to avoid potential counter-attacks from government troops (ironically, but unintentionally, also serving the interests of government forces). To understand what is happening here let?s go back to the history of Hutu and Tutsi in Rawanda and how the dominant group wants to control the minority groups. In the early 1900?s, the Tutsi were placed in positions of power by Belgium, because they looked ?whiter?. Governed by Belgium?s racist way of thought, ethnic identity cards were introduced. The Catholic Church supported the Tutsi and the new social order and educated the Tutsi and imposed their religion on them. Though the population of Rwanda was ninety percent Hutu, they were denied land ownership, education, and positions of power. In the 1950?s, the end of the colonial period, the Hutu overthrew the Tutsi government. The Hutu maintained the practices of ethnic division, and the Tutsi were forcibly removed from positions of power. Many Tutsi fled from Rwanda and were not allowed to return. Many Tutsi that stayed in Rwanda were killed. Supported by Uganda, the TutsiShow MoreRelatedThe Conflict Of The United States855 Words   |  4 Pageslargest country in Africa is Sudan, which is located on the northeastern side of Africa. The western region of Sudan is the primary focus, Darfur. This region of Sudan has experienced for years a consistent war that overtime has become forgotten. In the twenty-first century, it is difficult to realize that an actual genocide is happening. The individuals in this region are experiencing a harsh and difficult life that begin in the year of 2003. Given, the conflict of Darfur began in the year of 2003Read MoreWhat Caused the Darfur Genocide? Essay894 Words   |  4 Pagesrebel movements- the Sudan Liberation Movement and the Justice and Equality Movement took up arms against the Sudanese Government, accusing the failure to protect sedentary people from attacks by nomads and the marginalization of the area in Darfur. Darfur is a region in the western part of Sudan, where it is home to 6 million people from around 100 tribes. In response to the attack, the Janjaweed, which is the government-supported Arab tribesman, raided non-Arab villages in Darfur to create a Pan-ArabRead MoreSudanese Government And State Sponsored Militia Carried Out The Darfur1641 Words   |  7 Pages Darfur is located in the western region of Sudan, adjacent to Chad and Central Africa. In early 2004, the Sudanese government and state sponsored militia carried out the Darfur genocide. The targets of the genocide were black African tribes. The genocide in Darfur has claimed approximately 300,000 lives and displaced over 3 million people. In response to these mass atrocities the international community took action, but many were dissatisfied with what seemed to be a lack of effort. Of the groupsRead MoreMass Murder in Sudan852 Words   |  3 PagesThis essay will argue to what extent the mass murder in Sudan can be considered a genocide or a civil war. Resources will be referred to in order to support the argument and counter-argument. The situation in Dufar, Sudan will be expanded on, so that the reader is informed and educated as to weather the situation that is happening in Darfur is a genocide in contrast to a civil war. A Civil war is defined as a conflict between two parties within the same country. Genocide is defined as a deliberateRead More Compare and Contrast Between Rwanda and Darfur Genocide, from the Constructivism and Realism Perspectives1508 Words   |  7 PagesThe analysis of the genocides that took place both in Rwanda and Sudan’s Darfur region exhibit some similarities as well as differences. The character of violence was similar in both cases, but in Rwanda the violence was more intense, participatory, and extraordinary. The violence in these two places took place in an environment that had experienced civil wars. It was a period of political transition which was further aggravated by ethnic nationalism and a conflict of ethnic populations that wereRead MoreEssay about Darfurs Turning Point or Not1174 Words   |  5 Pagesdebate that the Darfur Genocide was worse. Many people do not know where Darfur is. Could it be in Europe? Maybe in Africa? Darfur may seem to be a normal region. Darfur is located in a region of Sudan which is about the size of France(5). In this region, it is a home to over six million people with over one hundred ethnic and tribal groups(4). Some of this groups included Nomads, Farmers, Muslims, Janyaweed, and people who speak Arab or non- Arab Sudanese(4). Even though Darfur seems like a normalRead MoreGenocide in Darfur Essay1531 Words   |  7 PagesThe Holocaust of Today: Genocide in Darfur By definition, genocide is â€Å"the deliberate and systematic extermination of a national, racial, political, or cultural group.† According to Eric Reeves, writer for the Sudan Tribune, genocide â€Å"encompasses not only the killing of members of a national, ethical, racial, or religious group, as such, but also deliberately inflicting on the group conditions of life calculated to bring about its physical destruction in whole or part.† Whatever genocide may beRead MoreDarfur Conflict Essay1350 Words   |  6 PagesMarch 23rd, 2013 The Darfur Conflict The government of Sudan, a country in Northeast Africa, is committing a horrendous crime against humanity. Genocide is raging on in Western Sudan against poor, helpless, innocent people. It is actually the ten year â€Å"anniversary† since the beginning of the Darfur conflict and the genocide still continues on. There are over 1.4 million people who still do not have homes to come back to, and the numbers stack higher every day. Bombings have not stopped, as thereRead MoreThe Genocide Still Going on in Darfur, Sudan Essay examples1048 Words   |  5 Pagesa huge role in the world; it has and will affect many people. In Darfur there is a genocide going on, it has been going on for a few decades now. Genocide is the mass killing of a race. The people of Darfur and the Government of Sudan didn’t really get along. The Government wanted to do oil exploration where the citizens lived. There was and still is a lot of tension between the government of Sudan and the people of Darfur. (Sudan Backgrounder, United to End Genocide) This genocide didn’t make muchRead MoreGenocide in Darfur Essay1479 Words   |  6 PagesIn recent times, the media has highlighted the genocide that has been occurring in Darfur, Sudan. Darfur, Sudan is a country roughly the size of the state of Texas (Darfur Scores, n.d.). Genocide is the systematic killing of an entire ethnic group of people from a national, ethnic, or religious group, or an attempt to do away with them all (Darfur Scores, n.d.). Beginning around 2003, according to Darfur Scores (n.d.), â€Å"the Sudanese government in Khartoum and the government-sponsored Janjaweed militia

3g Wireless Communication Technology - 5188 Words

An Essay on 3G Wireless Communication Technology Branch: EEE The advent of Wireless Communication Communication has been one of the most fundamental aspects of human development. It took the eccentric genius of Nikola Tesla to come up with the design of the first radio transmitter in 1891. The first transatlantic radio communication in 1901 was a sign of further things to come. Communication technologies that have been developed over the last century have largely shaped human interaction and have played a crucial role in sustaining human relationship be it†¦show more content†¦The recent introduction of 3G mobile services in India have however brought in enhanced data and voice transmission and are welcome signs in the improvement in mobile communication technology. The essay deals in-depth with 3G wireless technology and the difference with its successors (3.5G and 4G) and predecessor (2G). 3G (3rd generation mobile telecommunications) 3G wireless technology represents the convergence of various 2G wireless telecommunications systems into a single global system that includes both terrestrial and satellite components. One of the most important aspects of 3G wireless technology is its ability to unify existing cellular standards, such as CDMA, GSM, and TDMA, under one umbrella. It improves the efficiency of data can be transferred through the cellular phone. The data transfer rates for third generation mobile telecommunications is up to 2 Megabits per second. Aside from this feature, 3G cellular phones also have conventional voice, fax and data services, as well as high-resolution video and multimedia services which can be used while on the move. It also includes mobile office services such as virtual banking and online-billing, video conferencing, online entertainment and access to the Internet. International Mobile Telecommunications-2000 (IMT-2000), better known as 3G or 3rd Generation, is a family of standards for mobile telecommunications defined by the International Telecommunication Union, which includes GSM EDGE, UMTS, andShow MoreRelatedThe Current Status of 3g and the Future of 4g Essay1237 Words   |  5 PagesThe Current Status of 3G and the Future of 4G 3G and 4G are two mobile communications standards that are currently in use. 3G is the third generation of the standard and 4G is the fourth and most recent generation. Each successive generation usually brings new base technologies, more network capacity for more data per user, and the potential for better voice quality. 3G became available in the United States in 2002 and 4G became available in 2009 (O’Malley). Although it is a previousRead MoreWireless Communication Has Changed Our World1052 Words   |  5 Pages Abstract Wireless communication has changed our lives in terms of the way we live, work, learn and interact. Wireless communication and mobile devices have continued their rapid technical evolution, supporting a growing focus on increased end-user utility and new opportunities for compelling wireless applications in many aspects of people’s lives. In this paper that I’m writing, I’ll be reviewing the past and existing generations of wireless communication in terms of history, performanceRead MoreThe History of Communication Leading Up to the 4G Essay714 Words   |  3 PagesFirst Generation of communication system is the Analog cellular system, means carrier is Analog. we just send wave forms primarily with voice. it is continuous in amplitude and time. variation in a signal disrupts over long distance . This Analog system was introduced in seventies.NMT , AMPS, TACS, CDPD technologies were used in 1G. It uses FDMA technique call to one country. All the Analog systems w ere used circuit switched technology and design only for voice communication not data. The cost forRead More3G Technology and Its Uses1257 Words   |  6 Pagesapplication 2 3. Data communication concept 4 4. Technology capabilities 5 5. Examples of this technology that is being used in the market 6 6. Advantages and Disadvantages 8 7. Conclusion 9 8. References `9 9. Introduction of 3G 3G means â€Å"Third Generation† for mobile telecommunication technology. It transfer rate at least 200 kilobytes per second for information transfer. It is faster than earlier generation that support not more than 200 kilobytes per second. 3G could finds an applicationRead MoreNetwork Architecture Of Third Generation Technology950 Words   |  4 PagesAbstract— 5G Technology stands for fifth Generation Mobile technology. From generation 1G to 2.5G and from 3G to 5G this world of telecommunication has seen a number of improvements along with improved performance with every passing day. This fast revolution in mobile computing changes our day to day life that is way we work, interact, learn etc. This paper also focuses on all preceding generations of mobile communication along with fifth generation technology. Fifth generation network provide affordableRead MoreMobile Communication Technology996 Words   |  4 Pages01. Introduction to Mobile Communication Today mobile communication has become the backbone of the society. All the mobile system technologies have improved the way of living and it is one of the fastest growing communication medium in the world (Goldsmith, 2004). In 1960 Bell Laboratory was introduced the cellular concept, with the development of the newer concept and the better technology cellular phones getting more popular in worldwide (Mitra, 2009). According to the (GSMA, 2014) report mentionedRead MoreQuestions On Wireless Network And Security1402 Words   |  6 Pages Assignment-1 MN603 Subject Wireless Network and Security Teacher Biplob Rakshit Ray Name : Loveneet Singh Dhanjal ID: MIT130071 Contents 1) Introduction 3 2) Massive MIMO architectures 3 a. V-BLAST 3 b. Array Architecture 4 3) Uses of massive MIMO to achieve convergence of wireless networks 5 a. Spatial multiplexing 6 b. Pre-coding 6 4) Existing Technologies 6 a. WiMAX 6 b. 3G 6 c. 4G LTE 7 5) Recently proposed techniques in the literature 7 5G 7 6) RelevantRead MoreEssay on Wireless Technologies Today1523 Words   |  7 PagesWireless Technologies Today Everyday we as a society employ our wireless technologies throughout the day, sometimes even subconsciously. We wake up and check our cell-phones and PDA’s for information concerning the success of our day. We get to our respective workplace and our company’s wireless technologies, such as implemented wide area networks for quick and accurate communication of information between corporate officers or for communication of information to maximize manufacturing atRead More3g Wireless Access, Abstract1660 Words   |  7 Pages 5G WIRELESS ACCESS Abstract: 5G technology stands for fifth Generation Mobile technology .From era 1g to 2.5g and from 3g to 5g this world of telecommunication has seen a number has seen upgrades along with improved performance with every passing day. This fast revolution in mobile computing changes our everyday life. That is way we work, associate, learn and so on. This paper also focuses on all the preceding generationsRead More4g Wireless Mobile Communication Networks1428 Words   |  6 Pages 4G wireless mobile communication networks are been specified to support display, battery and computational power etc. 4G wireless mobile communication networks should not focus on air interface and data rate, but instead cover advance wireless mobile communication networks and high speed wireless access system into different platforms. The era of new wireless communication is evolving and it will soon penetrate into daily life and change the way we live. The key concept is integrating the 4g capabilities

The Energy And Sports Drink Industry - 1009 Words

â€Å"Pay careful attention to your own work, for then you will get the satisfaction of a job well done, and you will not need to compare yourself to anyone else† Galatians 6:4 (Dake’s Annontated Reference Bible). People who are satisfied with their job are more likely to want to improve their company as well as their personal life. God teaches us to take pride in our actions and not to compare ourselves to what others are doing or have. The energy and sports drink industry was able to use their resources to compete with other companies in order to make their company great. This paper will talk about the sports drink industry and whether or not they are competitively important, the resources they have at their disposal, and how they use†¦show more content†¦They also used other marketing techniques such as advertising at sporting events and having professional teams use their products. Because of their different marketing techniques and resources, they wer e able to make their product appealing to the populace. Strategy Companies such as Pepsi-Cola and Coca-Cola were able to determine whether their strategy was successful by measuring their sales and their earnings growth. Companies are able to tell how successful they are by their overall financial strength and their ability to retain customers (Gamble et al., 2013). The soft drink industry was able to change their image by endorsing their sports drink and vitamin water products as being healthier. They also made people aware of how important it is to keep the body hydrated and proved that their product could help. Their strategy was to appeal to a healthier clientele who are more active customers, than they previously had with their soda clientele. They were able to draw in these new customers and develop a different marketing perspective. They were able to attract new customers who were not interested in their soda line but wanted a healthier drink. Competitive resource capabilities â€Å"A resource is a competitive asset that is owned or controlled by a company; a capability is the capacity of a company to competently perform some internal activity. Capabilities are developed and enabled through the deployment of a company’s resources† (Gamble,

Strategies for Managing Conflict Successfully free essay sample

Everyone has dealt some sort of conflict within a relationship. Whether you’ve experienced it with a significant other, family member, friends, or coworkers, it’s all conflict. Managing your conflict appropriately limits the negative aspects while increasing the positive aspects. John Gottman proposed that, â€Å"criticizing, showing contempt, becoming defensive, and engaging in stonewalling aren’t productive ways handling conflict. †[1] You cannot escape conflict, so learned other alternatives will help you solve conflict proficiently. Your options for dealing with conflict are based on your concern for your own needs and desires and your concern for the other party’s needs and desires. The five different management strategies we choose between when dealing with conflict are competing, avoiding, accommodating, compromising, and collaborating. From personal experience, and just in my own opinion, collaborating is the most effective management strategy when dealing with intimate relationships. Collaborating is a strategy for managing conflict that involves working toward a solution that meets both parties’ needs. We will write a custom essay sample on Strategies for Managing Conflict Successfully or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page When practicing collaboration you are showing a higher concern for you and your partner’s needs. It is the most time consuming of the five strategies but it is the most effective. Showing that you have a mutual respect and understanding towards the other person makes you both feel at ease. This strategy is also known as the â€Å"win-win strategy†. [3] Collaborating is the ideal way of handling conflicts. It requires a great amount of patience, imagination, and energy. Most the time people turn to collaborating when situations are dealing with addressing the interests of multiple parties, when a high-level of trust is present, when a long-term relationship is important, when you need to work through hard feelings/animosity, or when you don’t want to have full responsibility. For instance, on my birthday this year my boyfriend wanted it to be just him and myself. I, on the other hand, wanted to have a big birthday dinner with all of my friends and family. Neither one of us wanted to budge. He wanted to do something special just for me on my birthday. Luckily my birthday was on a Wednesday, so I told him that we could go out and celebrate, just me and him, on my actual birthday. Then whenever the weekend rolled around, I’d celebrate it with my family and friends. With this solution, with both ended up getting what we wanted and were equally satisfied. When facing this conflict, we wouldn’t have used competing. Competition becomes problematic when it tarts leading to feelings of resentment or desires to get even with the other person. Avoiding also isn’t a good choice when dealing with conflicts. If we just ignored each other’s feelings then nothing would have been solved. Avoidance leads to dissatisfying relationships. Accommodating wouldn’t have been fair on my part. When you accommodate you giving in to the other party’s needs while subordinating your own. It was my birthday, so I should’ve also had a say-so in how it was spent. Compromising isn’t as bad as the other strategies but it’s still when both people give up something they want to receive something they both want. There was no need in both of us losing out when we could easily collaborate and both satisfy our wants and needs. Most of the time, when there’s a conflict, we would rather just have everything go our way and be solved the way we want it solved. That isn’t always the best way though. This happens a lot in relationships. Knowing the most efficient way to handle conflicts will help these relationships last longer. Conflict is going to happen. You wouldn’t want all your time, commitment, and investment to go down the drain because you were unable to solve problems within that relationship. This is why practicing collaboration will help you tremendously for managing conflicts successfully.

The Airline Deregulation Act of 1978 and Its Effects

Until 1978, the United States federal law controlled the aviation industry through the Civil Aeronautics Board (CAB). The inception of the Airline Deregulation Act marked a new dawn for the removal of government controls over fares, routes, and entrance into the market.Advertising We will write a custom term paper sample on The Airline Deregulation Act of 1978 and Its Effects specifically for you for only $16.05 $11/page Learn More Initially, air transport was considered a government-regulated venture with its services being public utility. The CAB was obligated with the task of setting fares, allocating routes, and preparing schedules for the airlines. By the active participation of the CAB in the industry, they were able to maintain low fares in the short-haul market or financially support industries in the long-haul market thus controlling the airlines rate of return. The complicated processes of applying new routes or reviewing fares were enhanced by the bureaucratic nature of the CAB. Most of the air transport providers felt that they were being inhibited by the CAB from bringing radical changes that would meet the needs of their clients in the market. On realising this, the congress pushed for laws that facilitated the deregulation of the airlines industries (Meyer, 1981). Their efforts bore fruit in the year 1978 when President Jimmy Carter agreed and signed the Airline Deregulation Act. Consequently, the roles of CAB were phased out progressively until 1984 when it was completely abolished and later the benefits of the deregulation started to take effect. Under the Airline Deregulation Act, several terms of conduct in the air industry were highlighted that would streamline the general operation of the airlines. Before the complete abolishment of the CAB, the Act stipulated that the task of setting fares was to be entrusted to airlines.Advertising Looking for term paper on political sciences? Let's see if we can help yo u! Get your first paper with 15% OFF Learn More Consequently, the airline standards were liberalised such that new airlines could enter the market after meeting the terms and conditions of the Act. In case of existence of routes that were being underutilised or had competitors that received subsidy from the government, the Act allowed new providers to join those routes. Most barriers created by CAB such as blocking routes or introducing charter trips were expunged, and the airlines could provide services conveniently for them. Consequently, the airlines were place in a fair arena and made flexible to serve the needs of their clients. Additionally, the role of CAB to decide on the appropriate airlines, which deserved subsidies, was eliminated, and thus airlines profitability relied on their own efforts and investment (Brenner, 1985). To reduce the burden of CAB, the roles of maintenance of safety standards were transferred to the Federal Airline Association (FAA). After the disbandment of CAB, some of the key responsibilities that the board initially undertook were transferred to United States Department of Transportation (DOT). Since then, the authority allowed the introduction of small carriers to replace the jets that offered domestic services increasing the efficiency in the air industry. Similarly, other CAB duties were allocated to FAA to examine safety, and control air traffic. Additionally, the Act gave the secretary of transportation the main role of reporting to the congress on air safety and any matters arising due to the deregulation.Advertising We will write a custom term paper sample on The Airline Deregulation Act of 1978 and Its Effects specifically for you for only $16.05 $11/page Learn More To ensure the air industry’s effectiveness from the onset of the deregulation act, the government used generated revenues to categorise the airlines. These categories include major, national, and regional airlin es. The major airlines category constituted of airlines with annual operating revenues of more than $1 billion. Due to their financial strength, they offer international and long-haul services. National airlines usually operate with annual revenues of between $100 million and $1 billion. On other hand, regional airlines offer their services within specific regions and mostly attain annual operating revenues of between $20 million to $100 million. Categorisation of airlines in this manner enabled the FAA to control and monitor the traffic and routes used by various airlines. Meanwhile, airlines could also be categorised depending on the services they offered like passenger or cargo airlines. Any operational airline must have two specific certificates from the federal government authority. These certificates are the fitness certificate and the operating certificate. The Department of Transport (DOT) is the sole authority entrusted with the issuance of the fitness certificate also know n as the certificate of public convenience and necessity. This certificate indicates that the airline has adequate finance and management capacity to handle scheduled services. Moreover, the certificate is issued to both the passenger and the cargo carriers.Advertising Looking for term paper on political sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the other hand, operating certificate is issue by the FAA to indicate the various requirements critical for the operation of aircrafts with a capacity of 10 or more seats. When the Airline deregulation act was enforced, it had dynamic benefits to both the airline providers and the passengers. Notably, the Act terms were suitable for the carriers as it streamlined the activities of airlines in the market. The objectives of the carriers were outlined in the Act, borrowed from the initial roles of the CAB. Adequate consideration was given to the safety standards of the airlines, as it was the optimal priority in the air industry. The Act stipulated that for the airlines to be granted the opportunity to operate in the industry, they had to comply with the safety measures of the passengers and their workforce. Air transportation services were allowed to significantly rely on the competition that existed in the market. Thus, matters of fares were solely determined by the airlines. Simi larly, the Act emphasized on the need for the air services to put in more effort on the development of airports in the urban areas like the secondary or satellite airports. By the act of encouraging competition in the air services, the government was able to reduce instances of monopoly where a single air service provider would increase prices uncontrollably. Economically, the Act advocated for the easing of entrance requirements and conditions for new air carriers thus enhancing the growth of the economy. The Airline Deregulation Act had great objectives that would foster the growth of the air industry and therefore contribute to the streamlining of the air services and improvement of the county’s economy. To promote the growth of the economy, the Act provided incentives to American-owned international airlines to provide domestic services in the country. After the deregulation, a major streamlining was done in the airline industry regarding the line personnel, operations, m aintenance, sales and marketing, reservation and ticketing and staff personnel. The Line personnel are individuals involved in the operation of the scheduled services of an airline. These personnel include plane mechanics, pilots, flight attendants, reservation clerks, ramp-service agents and security guards. Their welfare and operating conditions were dynamically improved. Operations entail the flight crew responsible for the safety and effectiveness of service delivery during the flight. The other elements incorporate the personnel in ensuring that the business of the airline is successful. Additionally, deregulation improved the conditions of operation of the airlines and the governing bodies (Miller, 1981). Because of deregulation, there was a significant growth in the hub and spoke networks compared to prior years. Hubs refer to airports that are strategically located in the areas where there is ease of access by the passengers and cargo. These locations are collection points f or passengers and cargo. In this regard, the exploitation of small markets with a small population became realistic and profitable. At the same time, hubs that allowed access of the planes to collect selected passengers or cargo handled variation in the destinations of the passengers in one location. The growth of the hub and spoke networks also improved the ability of the airlines to handle numerous markets and manage the size of the fleet. With the radical improvement of the hub and spoke networks, collection and dropping of passengers in various cities with different origins and destinations was economically handled. Nevertheless, these hubs were favourable for numerous carriers due to the convenience attached to it. Deregulation allowed the increase in the size of the carriers due to the entrance of multiple new carriers. This was fostered by the fact that there were many cheap available second hand aircrafts, the availability of airline line professionals like pilots and mechan ics and soft terms of airline operations by the government. With time, the objectives of the congress were achieved by the increase in new entrants in the market creating a stiff competition that worked in favour of the customers. The increase in the competition necessitated most of the airlines to offer direct, low-cost and no-frills services, which improved the air transport in general. Notably, although over the years there have been fluctuations in the market due to the varied conditions of the economy, the deregulation act has still played a key role in retaining the numerous carriers in the industry (Morrison, 1986). Affordable fares have been an achievable objective due to the stiff competition created by the enormous carriers. Significantly enough, most carriers have been offering discounted fares to their passengers or for cargo. Evidently, fares have significantly decrease compared to the CAB era. This result has affected several other transport sectors like the interstate bus and rail due to the efficiency associated with airlines operations between cities. Concerning the passengers, these changes have been significantly beneficial in various aspects such as enabling them to save on their travel expenses. Additionally, passengers’ needs are met in the most outstanding manner because of the stiff completion. Furthermore, low costs have reduced disparity among the passengers, as most fares are affordable by many air transport users. The stiff competition in the airline market due to deregulation has sparked innovations concerning marketing designs and styles. Major innovations have been geared towards the frequent flyer programs of the airlines. For the airlines to retain and attract more customers, these programs have been enticing, and the benefits of such offers are paramount to the passengers. These rewards usually offer free tickets or advancement in the class an individual is placed in the carrier. To earn such offers or gifts, it is requ ired for one to be a frequent and consistent flyer in the airline of choice. Earning of points also at times depend on the mileage covered by an individual on his or her flights. Additionally, these marketing improvements have led to the establishment of the credit card industry within the air transport. Possession of such specific credit cards has allowed passengers to gain promotions and other rewards that improve their welfare. Notably, these services and improvements have caused radical changes in the airline industry and thus are viewed to be beneficial and complementary to deregulation. Computer reservation system (CRS) has been an important development because of deregulation. These systems have enabled the workforce within the airlines to handle and process effectively the numerous services that occur on a daily basis. Activities like keeping track of fares and service changes have been possible with the use of such systems. Nonetheless, the travel agents have been able to m onitor the schedules and fares of their passengers. Similarly, the systems have enable the travel agents to not only to maintain records of schedules and fares, but also give chances to their clients to make advance booking for their listed flights. As a result, the airline owners have been successful in offering services to their clients in a systematically and convenient manner. Another important innovation was the advancement in the code sharing agreements. Such agreements allow the travelling agents of airlines to issue tickets for the airline using a two-letter code. These agreements enable large and regional airlines to conduct business together with efficiency in service delivery to the clients. On the same note, the U.S airline and foreign airlines can conduct business within the country’s states. Similarly, these agreements facilitate the conduct of marketing innovations like the frequent flyer programs without the interference of other airlines. Notably, the regiona l airlines have been able to paint their carriers with trademarks of large airlines thus boosting their market competitiveness. Furthermore, In the event that the large airlines cannot land on certain hubs, the regional airlines facilitate the collection of clients and cargo. Despite the use of the code sharing agreements, each carrier is able to benefit and their working conditions or programmes are unaffected. Overall, code sharing enhances the effectiveness of the airlines and efficiency in service delivery to the clients. In spite of the numerous benefits derived because of deregulation, there have been some pitfalls from its implementation. The benefits offered by the deregulations have been uneven in the entire national air transportation network. Repeatedly, costs have decline in most of the high traffic and long distance routes compared to the shorter ones. In this regard, large airlines have been able to nourish in the market unlike the regional airlines, which encounter en ormous challenges. Moreover, the shorter routes carriers have been ineffective in handling financial difficulties thus most are discouraged and may be forced to quit or join the competitive long distance operators (Williams, 1994). Another major obstacle was the exposure to stiff competition, which led to numerous losses and aroused conflicts between the labour unions and the carriers. Because of the decline in the profits generated by the carriers, they were forced to reconsider the working conditions and reward policies in order to remain operational. In this regard, there have been rampant disagreements between the carriers and the labour unions concerning the improvement of the working conditions. Notably, deregulation led to the inability of some carriers to survive in the stiff competition influenced by the costs and the labour unions demands, forcing them to quit the market. Moreover, these carriers were unable to meet the costs and cover for their liabilities and were eventu ally liquidated due to bankruptcy. Examples of carriers that were liquidated at the aftermath of deregulation are Eastern, Braniff, American West Airlines and Pan Am and other multiple smaller airlines. The aftermath of such losses was detrimental to the potential entrants and some of the operators who remain in the industry. Nonetheless, the airlines’ workforce encountered numerous challenges in the transition period to other remaining airlines. Finally, the Airline Deregulation Act led to a new dawn in the air industry by bringing in radical changes in the operation and management of the airlines. For most of the airlines with great effort and investment in the sector, they realized their objectives. Nevertheless, it is observed that the deregulation prompted the government to be more vigilant in terms of regulating and ensuring the safety of the passengers and personnel on board every flight. Furthermore, the deregulation enabled the growth of numerous industries within th e air industry improving the economy on a general scale. These industries have created employment opportunities and assisted most airlines in achieving their major objectives of flourishing and being competitive in the market. From the government’s perspective, the deregulation act has simplified their roles due liberalization. The government therefore remains with precise and convenient duties of ensuring that the operations of airlines meet the set requirements. As per the society, the Act created an overhaul in the efficiencies with which the airlines and the government conduct their business. References Brenner, M. A., Leet, J. O., Schott, E. (1985). Airline deregulation. Westport, Conn.: (Box 2055, Saugatuck Station, Westport 06880). Meyer, J. R., Oster, C. V. (1981). Airline deregulation: the early experience. Boston, Mass.: Auburn House Pub. Co.. Miller, J. R. (1981). The airline deregulation handbook: with the complete text of the Airline Deregulation Act of 1978. W heaton, Ill.: Merton House Pub. Co. Morrison, S., Winston, C. (1986). The economic effects of airline deregulation. Washington, D.C.: Brookings Institution. Williams, G. (1994). The airline industry and the impact of deregulation (Rev. ed.). Aldershot, Hants, England: Avebury Aviation. 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The forgotten group memeber case Essay Example

The forgotten group memeber case Essay Example The forgotten group memeber case Essay The forgotten group memeber case Essay Essay Topic: Sociology The facilitator, Christine, is assumed to embrace the same roles and adhere to the equivalent theories defined for a leader. Also, it is believed that the principles taught within Professor Rasmussens Organizational Behaviour class are consistent with those discussed by Dr. Keeping. The outcomes associated with the alternative solutions are based upon the likelihood of their interpretations within the group meeting corresponding with our interpretations of the theories utilized and are not explicitly applied with certainty. Statement of the Problem Due to lack of: clearly defined team roles, demonstrated leadership qualities, effort by all members and acknowledgment of communication barriers, conflict was imminent within the group. Immediate problems to be addressed by all members of the group include Janets feelings of exclusion from the group and Christines lack of insight into the apparent causes of Janets loss of motivation to be a group member. Professor Rasmussen must decide whether to resolve the feelings of inequality between the group members and if delegating a further assignment to Janet is appropriate. Analysis of the Problem As stated in the course outline received by all students at the commencement of the term, group work is considered to be the primary medium through which applying the theories learned in class is to be implemented. Causes of animosity within the group may be attributed to group dynamics, norm formation, leadership inefficiencies, perceptions, conscientiousness and communication barriers. As explained by Professor Rasmussen during the second class, all groups undergo four stages of interaction: forming, norming, storming and performing1. These four phases are also referred to as mutual acceptance, communication and decision making, motivation and productivity and control and organization. Interaction amongst those who have had no previous relations together is facilitated through the first stage; where personal preferences and work schedules are exchanged, strengths and weaknesses made apparent and expectations clarified2. The first group meeting held was used to recognize these necessities. The second stage, where norms, goals and performance ideals are mutually established through discussion, should not occur without careful consideration and input by all members. The formation of the group failed to fully complete this stage however, allowing the ambiguous actions of members to be perceived incongruently. Norms are behaviours that social groups deem proper when interacting, so that actions may be consistent and activities made predictable3. To be effective, all must clearly understand and adhere to these expectations for there to be cohesiveness. At the commencement of the semester, Professor Rasmussen defined his norms for the groups and required all students to sign a contract, indicating that all expectations have been acknowledged. Unfortunately, within Christines group, not all members abided by the norms. One member in particular, Janet, failed to fulfill the contract to its fullest extent, however, one should not fault the lack of cohesiveness strictly to Janet. The group accepted the norms delivered by Professor Rasmussen but did not redefine or set out norms to be suitable for them selves. Nor was the contract or its contents reviewed during the group meetings. Therefore, it may be inferred that the group failed to establish strict rules or guidelines, causing the situation they are presently in. Christine, as facilitator, should have ensured that the norms were set as they are a vital aspect of a successful group4. Christines style of leadership throughout this situation may be described using the theory of Leader-Member Exchange. This theory focuses upon the unique relations between a leader and their subordinates. Greater personality similarities contribute to closer relations, allowing for stronger bonds to be forged5. These strong personality connections cause the subordinate to be designated a member of the ingroup. The ingroup consists of those who receive special preferences such as inclusion within social activities that occur outside of the organization. Those subordinates who do not receive this special treatment are considered the outgroup members. As facilitator, Christine did not form a strong inter-personal relationship with Janet, her subordinate. As sole member of the outgroup, Janet did not satisfy the need to relate to her colleagues as defined by ERG; a theory first proposed by Clayton Alderfer that defines the needs of existence, relatedness and growth as essential to human motivation. The need of relatedness is the ability to identify with ones peers and establishing a sense of belongingness6. Janet was not able to experience the cohesiveness established through the extracurricular social interactions. The rest of the members were able to receive these benefits and become highly cohesive due to their designated statuses as members of the ingroup. Because Janet was excluded from the ingroup and was allocated to the outgroup, she was lead to encompass unmotivated behaviours. She was lead to feel unmotivated, as she was a victim of the fundamental attribution error principle. This theory states that one may have their preferences and ideals seen as the primary cause of their actions although situational attributions may be the proper cause7. Janet experienced this bias by the members of her group, as she chose to help her boyfriend with his project instead of meeting with the group at the designated time, as she previously agreed to. From her perspective, she did not intentionally choose to spend the allotted time with her boyfriend, however the group feels that her actions were a blatant attempt to avoid contributing further. This principle was also used by Janet, as she attributed Christines lack of social inclusion to the general dislike of her personality. Due to the diverse personality composition of the group, it is imperative that the leader manages the situation with care to ensure that conflicting ideals do not affect the groups cohesiveness. Stereotypes attributed amongst the members of the group lead to distrust as well as communication problems. A leader must recognize these issues and allocate the required time towards helping the group unify8. When Christine first met with her group, she made stereotypical assumptions about each individual based upon her first impressions and the brief biographies supplied to her. One may describe representativeness heuristics as a method in which a person evaluates others based on characteristics or previous occurrences9. Christine utilizes this principle when she assumes that Janet is unmotivated and uninterested with the group project; as she was late to the first meeting and mentioned all her free time was spent with her boyfriend. This causes the group to feel as though Janet does not want to work with them, which leads her to feel unwelcome. Although Janet has contributed her allotted portion of the assignment, Christine still holds negative feelings due to selective perception10; the ability to omit information, which does not correspond to, established beliefs. Despite the fact that Janet was a fully contributing member, the group continued to hold a negative bias due to her lack of social activity. Also, Mike had the tendency to put forth less effort than other group members, which is looked upon as free riding. A free rider is one who tries to maximize their outputs while minimizing their level of inputs11. Due to his lack of focus and recurring need to bring humour to all situations, Mike is seen as a fully contributing member because of his constant presence. Christines lack of leadership contributed to the differing ways in which each individual was treated, causing the group to have a lack of respect for her position. A persons conscientiousness defines the range of tasks they wish to sustain and the variety of activities in which they chose to involve themselves. A person who appears to focus on effectively completing a small number of goals is viewed as displaying high-conscientiousness. They value the characteristics being responsible, organized and self-disciplined. Anchored at the opposing end of the continuum are those whom are regarded as exhibiting low-conscientiousness. They apply themselves to a large number of responsibilities that often cause them to become overwhelmed by the volume and incapable of applying the effort required. People within this category tend to be careless, irresponsible and lack self-sufficiency12. In applying this theory to the case, it is apparent that Janet tends demonstrate characteristics consistent with a less-conscientious person. She is studying at a university, maintaining two jobs and is fully committed to a serious relationship. Therefore, Janets time is greatly consumed with a larger variety of activities than others within her peer group. This detracts from her performance in the group-case study. Communication is an essential element for coordinating efforts and sharing information within any interpersonal atmosphere13. Barriers to communication arose concerning Mikes free- riding tendencies and Janets failure to attend group meetings regularly due to Christines failure to fulfill the role of facilitator. Instead of avoiding the conflict, Christine should have resolved the issues as they became apparent, for they caused stronger concentration upon Janets individualized status.