Coffee Is The Best Caffeinated Beverage Of The World Essay

Before the sunrise, when the world is still asleep, my father awakens me by the rich roasted strong smell of espresso. Watching how it awakens him with joy from every sip brought happiness to moments I had with him. That scent from a child is now a comfort of home. These moments are just one of the many beauties of coffee. Coffee’s diversity can accommodate any individual’s life-style and taste. This naturally memorable caffeinated drink is well-known for many cultures and is highly effective. Coffee is the best caffeinated beverage in the world. This diverse beverage is made from roasted ground seeds of a tropical shrub. The most common species of bean is from Ethiopia which is located in western and central Africa. It is well known because many of these coffee beans are planted in over seventy countries, making it one of the most popular beverages in the world. The dried and roasted coffee seeds are ground and moistened by hot water passed through to become a liquid brew. The beverage is now drinkable and stimulating to people because of its natural high impact of caffeine that is why we become so energetic after consuming a drink. Coffee is known everywhere compared to any other drink; it is something that different cultures have in common. That is why coffee benefits a way of living by bringing completely different cultures together. All around the world different cultures have unique ways of preparing coffee. Usually people drink coffee in the morning with theirShow MoreRelatedCoffee Descriptive Essay1993 Words   |  8 Pages Coffee Coffee is a dark brown/black naturally caffeinated drink made from passing water through ground roasted coffee beans. Coffee is used as a great medicine to help patients, and it can be taken as a popular drink all over the world. Caffeinated coffee drinks are largely consumed by people around the world regularly. It has become an internationally popular drink in almost every country. Coffee is so important to our daily lives that some peopleRead MoreEssay On Caffeine1454 Words   |  6 Pagesglaucoma, osteoporosis, these are all diseases that could possibly be worsened by the use of caffeine or products with. In young adults drinking 4 or more cups of coffee significantly could risk heart attack and death. Coffee could stain someone’s teeth, it is also acidic so it can break down someones teeth and cause decay; removing the coffee from the daily cycle can greatly stop this.(20+ Harmful Effects of Caffeine) Drinking energy drinks could cause upset stomach and vomiting; It cou ld also leadRead MoreEssay about Effects of Caffeine on Human Health1032 Words   |  5 PagesCaffeine is one of the most well-known orally consumed drug around the world. In the 1820s, a German chemist named Friedrich Ferdinand Runge first discovered caffeine by extracting it from coffee [6]. 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In 1981, Howard Schultz, the chairman, president and chief executive officer of Starbucks, walked into a Starbucks store for the first time. Highly impressed of the great coffee and the company’s concept, he joined StarbucksRead MoreStarbucks Marketing Audit1284 Words   |  6 PagesStarbucks has broken the rules and set a new standard amongst its competitors - targeting both males and females, ranging in age from 18-30 year olds, and middle to upper middle class. Starbucks caters to all needs; they offer non-caffeinated drinks, for children or non-coffee drinkers, sandwiches, sweets, and a variety of juices and pastries. Locations of all stores are carefully selected for convenience and Starbucks specifically targets places that are heavy with pedestrian street traffic. StarbucksRead MoreStarbucks : An American Coffeehouse Chain1513 Words   |  7 Pagesto please the taste buds. They are committed to creating global social impact in neighborhoods around the world. From the start, it set out to be a different kind of company. One that not only celebrated coffee and the rich tradition, but that also brought a feeling of connection. (Bain, 2016) Mission/Vision Starbucks mission is to establish a coffee shop with the finest coffee in the world, while maintaining their principles while they still grow. They also have a mission to inspire and nurtureRead MoreMarketing And Marketing Of Starbucks1653 Words   |  7 Pagesstrategy the organization has been able to offer one common line of products to satisfy customer needs around the world. For example, coffee lovers in Latin America may enjoy a bitterer coffee taste over the milder brews that are actually more popular in Asia (Starbucks.com). Starbucks prides itself on using little to no advertising. The company uses word of mouth, the perfect coffee mentality, innovation, and customer satisfaction. These methods have allowed the company the ability to continueRead MoreEffect Of A Substance On Daphnia1285 Words   |  6 Pagesfeeding habits of Daphnids. The jerky movement, general shape of daphnia are the best way to distinguish them without magnification. Caffeine (C8H10N4O2) is a central nervous system (CNS) inceptor of the methylxanthine of psychoactive drugs. Caffeine is the most consumed psychoactive drug worldwide, however unlike many other psychoactive substances, Caffeine is legal and is unregulated in almost all parts of the world. Caffeine is a bitter, white crystalline purine, a methylxanthine alkaloid, and

Half The Sky Book Review - 2444 Words

Half the Sky Book Review FACS 335 Friday, October 3, 2014 Molly Dragoo Dr. Anstrom Certification of Authorship: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas, or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for the purpose of this assignment. 1699931 â€Å"Women aren’t the problem but the solution. The plight of girls is no more a tragedy than an opportunity† (Kristof WuDunn, 2009, p. xviii). This quote does an excellent job of introducing the issues discussed in the book Half the Sky. In this book, Nicholas D. Kristof and Sheryl WuDunn present us with the issue of the unjust and cruel treatment of women in today’s world. Women throughout the world are treated in unthinkably bad ways, but the majority of people are not even aware of the suffering these women face on a daily basis. According to Kristof and WuDunn (2009), â€Å"Women aged fifteen through forty-four are more likely to be maimed or die from male violence than from cancer, malaria, traffic accidents, and war combined† (p. 61). However, Kristof and WuDunn (2009) also point out that if something dramatic such as a school shooting or bombing takes place, it makes breaking news, and everyone is aware of it all at once (p. xiv). Plenty of women are being mistreated every minute ofShow MoreRelatedPolitics and International Policies for Women Essay564 Words   |  3 Pagesstill placed upon that region. The most substantive issue was looking at structural and cultural violence in order to understand the plight of women and young girls when reading Half the Sky and the critic’s reviews. 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(Attention material) Morgan Robertson wrote a book called The Wreck of the Titan. It was about a so called â€Å"unsinkable† ship named the Titan that set sail from England to New York. There were many rich and famous passengers on board. On its journey, the Titan hit an iceberg in the Atlantic Ocean andRead MoreHalf the Sky Feminist Review2943 Words   |  12 PagesMidterm: Half the Sky Review Ryan Carr University of San Francisco Rpcarr@dons.usfca.edu March 11, 2011 Midterm: Half the Sky Review Nicolas Kristof and Sheryl WuDunn’s novel, Half the Sky, is primarily a call for social equality and freedom from oppression for women across the globe. 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Business Communication Skills Integrated Business Skills

Question: Disucss about the Business Communication Skills for Integrated Business Skills. Answer: Communication Skills Counseling is defined as a process that aims at aiding individuals to make healthier choices. Thus, it enlightens people in making beneficial decisions in their lives. Counseling as an essential aspect of man's life especially in promoting better choices demand excellent communication skills. Effective counseling is carried out as a communication process, and counselors who are proficient in communication skills are probable to make a lasting impact (Nelson-Jones, 2015). Communication as a process of receiving and sending messages either verbally or non-verbally affects the entire counseling process. Therefore, for a counselor to develop effective communication skills is a necessity. It entails adequate training as well as experience that offer an opportunity to practice and receive feedback from colleagues. A counselor should integrate communication skills in every step of the counseling process with the aim of achieving a positive outcome (Freshwater, 2003). The research objective entails illustrating how communication skills are integrated at each stage of the counseling process. Moreover, the study will identify and discuss the communication barriers that may hinder effective counseling process as well as the appropriate strategies to address them. Integration of Communication Skills with Each Stage of the Counseling Process Counseling is a process which employs distinct stages to attain its objective. Though these steps don't match each session, they apply to the whole counseling plan. Every counselor is encouraged to integrate communication skills within these six stages which take place consequently (Duys Hedstrom, 2000). The six steps include; Relationship/Rapport Building Stage This is the first stage of the counseling process where the counselor and the client make the first contact. It is the responsibility of the counselor to establish trust and confidentiality with the client at this stage. If the counselor fails to win client's trust, he/she will not participate in the counseling process in an effective way. Hence, to ensure a solid rapport is built a counselor must apply the necessary communication skills effectively. The use of active listening skills is vital in this stage to comprehend the client and their narrative. Prior to suggesting any intervention, the counselor must illustrate to the client that he/she understand their situation. Moreover, a counselor must be keen on his or her speed of building the rapport. Considering the client's personality, culture, and background it is likely to take longer to build trust with some clients. However, to evaluate client's trust level, the counselor must pay attention to the client's body language and wha t the client is sharing. It is important for a counselor to be aware that counseling relationship is essential than interventions to be used (Hargie, 2007). Reassurance Stage This is the second stage of counseling of the counseling process in which the counselor is obliged to provide accurate information to the client with the aim of minimizing the feeling of insecurity. Burnard (2005) explains that at this stage a counselor should explain to the client that he/she is bound by the code ethics and practice and that he/she will never force own beliefs or values to the client. Additionally, the counselor assures the client that counseling process is a confidential and non-judgmental process. The success of this stage depends on the counselor's tone of voice and the greetings they exchange with the client. Allowing client sufficient time to relax, respond, and talk freely aids the client in reducing anxiety and insecurity. Stabilizing the Client Stabilizing a client constitute the third stage of the counseling process. At this stage, the counselor aids the client to understand his/her reaction to the crisis. Furthermore, the counselor should identify any sign of severe distress and refer the client to a specialist if needed. A client at this stage is equipped with the necessary emotional and cognitive skills to face his/her crisis. The effectiveness of this stage depends on with how the counselor attends to the client. Attending in this sense refers to the ability of the counselor to connect with both physical and psychological aspects of the client. Hence, to ensure this connection counselor should squarely face his or her client. That is, the counselor should adopt a body posture that demonstrates involvement with the client. Sometimes to illustrate involvement and interest with the client it is advisable to lean toward the client (Gallois Callan, 2007). Addressing Client's Needs and Concerns This is the fourth stage of the counseling process and involves collecting accurate information from the client. The counselor also seeks to clarify the client's concerns and worries. To encourage the client to give more information, the counselor should ask open-ended questions. To seek clarity, the counselor is encouraged to paraphrase the client's statement. After gathering sufficient and accurate information as well as clarifying client's concerns both the counselor and the client should devise a possible remedy to the problems. In addition, the counselor should offer practical assistance to meet the client's needs. The communication skills needed in this stage include keeping eye contact. Moderate eye contact communicates to the client that the counselor is interested in what he/she is saying. However, the counselor must be cognizant that eye contact is not acceptable in all cultures. In addition, the counselor must remain natural or unperturbed with the client. Any indication of being nervous or of distracted facial expression will make client wonder. A counselor, therefore, should use his/her body expressions to make the client feel at ease. Listening is another critical skill at this stage. A counselor should have the ability to understand client's message communicated either verbally or non-verbally. Therefore, a counselor must learn how to listen and interpret non-vocal messages such as gestures and body postures. Active listening facilitates in offering practical, sincere, and appropriate remedy (Derlaga Berg, 2013). Providing Support to the Client This is the fifth stage of the counseling process and engages valuable skills such as; helping the client to re-establish social networks and encouraging the client to search for external support when in crisis. To make this stage beneficial in the counseling process, a counselor must probe the client. The probe in counseling context is sensitive and therefore involves paraphrases, requests, and non-vocal prompts. It is important that a counselor doesn't ask too many questions. Facilitating Client's Coping This is the final stage of the counseling process and involves making sure a client is aware of the positive coping process. Also, the counselor must ensure the client can identify negative coping skills. Moreover, at this stage client is equipped with the expertise to manage the future crisis to live a healthier life with better choices. Since different clients have varying levels of understanding and education background patience and respect are vital virtues to uphold as a counselor (Brown Bylund, 2008). Identification of the Communication Barriers That Hinders Effective Counseling Process and the Appropriate Strategies to Address Them There are a variety of reasons why communication may fail in the counseling process. Therefore, a counselor must be aware of the possible barriers to communication in the helping process and implement strategies to overcome them. Primarily effective communication is the ability to overcome these obstacles and drive a clear and concise communication (Sue, 2007). The main communication barriers that hinder effective counseling process include; Judging Criticizing entails forcing beliefs and values to the other person and offering remedies to their crisis. Judging, therefore, hinders active listening because a counselor becomes preoccupied with evaluating client's narration, and words used as well as the tone of the voice, and appearance. To overcome this barrier, a counselor must treat each client with due respect, whatever their marital status, sex orientation, age, gender or cultural background. In addition, a counselor must be aware of his/her role in the counseling process. A counselor aids a client to realize his/her potentials in dealing with the present crisis (McLeod, 2011). Sending Solutions Readiness to offer a solution to the client contributes to interrupting client when he/she is narrating his/her story. Thus, contribute to a poor understanding of client's emotions. Further, it contributes to client becoming dependent on the counselor to solve their crisis hence deny them a chance to apply decision-making skills. This form of communication also sends a message that client's values, emotions, and tribulations are not worthy. To address this problem, a counselor must practice active listening and always remember he/she has two ears but only one mouth. Therefore, should listen twice as much as he/ she speak. A counselor must be aware that he/she is not a custodian of solutions, but a midwife to aid clients to get solutions to their problems (Mearns, Thorne McLeod, 2013). Avoiding Client's Concerns It happens when the counselor fails to deal with the client problem. The sentiments and worries of the client are not considered. In this case, the counselor fails to address the concerns and fears of the client and instead offer a logical argument to the crisis. To address this problem, a counselor must learn to emphasize with a client. That is, entering into the client's shoes and deliberately deciding to view things from the client's point of view (Dickson, 2009). In conclusion, communication skills are essential in effective counseling. Therefore, more effort should be engaged to integrate in a spontaneously manner the communication skills in the helping process. Effective counselors and simultaneously actively listen, attend, probe, and aids the client to address their crisis. As a counselor, it is worth noting that the choice of the communication skills to be applied depends on the client, his/her needs, and the situation. After all, the success of the counseling process is dependent on the communication skills and techniques of the counselor. References Brown, R. F., Bylund, C. L. (2008). Communication skills training: describing a new Conceptual model. Academic Medicine, 83(1), 37-44. Burnard, P. (2005). Counselling skills for health professionals. Nelson Thornes. Derlaga, V. J., Berg, J. H. (Eds.). (2013). Self-disclosure: Theory, research, and therapy. Springer Science Business Media. Dickson, D. (2009). Barriers to Communication. In Interaction for Practice in Community Nursing (pp. 84-132). Macmillan Education U.K. Duys, D. K., Hedstrom, S. M. (2000). Basic counselor skills training and counselor cognitive complexity. Counselor Education and Supervision, 40(1), 8. Freshwater, D. (2003). Counselling skills for nurses, midwives and health visitors. McGraw-Hill Education (U.K). Gallois, C., Callan, V. J. (2007). Communication and culture: A guide for practice. John Wiley Sons Inc. Hargie, O. D. (2007). Training in communication skills: research, theory and practice. The Handbook of communication skills, 473. McLeod, J. (2011). Counseling skills: A practical guide for counselors and helping professionals. McGraw-Hill Education (U.K). Mearns, D., Thorne, B., McLeod, J. (2013). Person-centred counseling in action. Sage. Nelson-Jones, R. (2015). Basic counseling skills: a helper's manual. Sage. Sue, D. (2007). Barriers to effective cross-cultural counseling. Journal of Counseling Psychology, 24(5), 420.

Accounting Standards & Regulation Free-Samples -Myassignmenthelp

Questions: a.WithreferencetoMyeroutlinewhatevidenceistherethatimpairmenttestingofassetsisnecessary; b.WithreferencetoMyeroutlinetheprocessesrequiredtobeaddressedindetermininganyasset impairmentsthatmightbenecessaryc.WithreferencetoMyeroutlinetheinformationneededindeterminingassetimpairmentsd.Evaluatetheflexibilitymanagementhasavailableinthedeterminationofassetimpairments. Answers: ASIC Media release 17 -162 ASIC through their Media Release 17 162, approached that the all the organization who are listed under the ASX, shall prepare their financial statement with the consideration that it shall fulfil the purposes of the users. To be more specific, the financial report shall be prepared with transparency and in accordance with the conceptual framework, so that the statements can be understood by the external as well as the internal users clearly and it must be able to fulfil the requirements of the users. It is observed by the ASIC that most of the companies use improper assumptions while preparing their accounts for various transactions like recognition if liabilities or revenues. As per the statement of John Price, the commissioner of ASIC, the auditors shall analyse the accounting strategies with regard to the statements of previous period (Aasb.gov.au 2017). As per the AASB 136 on Impairment of assets seeks to assure that the assets in the balance sheet shall not be carried out in the value which is more than the recoverable value of the asset. For the purpose of impairment, the recoverable value and fair value of the asset less the cost of disposal must be measured. The impairment loss is the difference between the recoverable amount and the fair value of the asset. As per the AASB 136, the organization shall carry out the impairment test at least once in each year. As per Para 12 14 under AASB 136, some indications are considered for impairment of any asset. However, if any indication for impairment is found with regard to any if the asset of the company, the management shall immediately test the asset for impairment (Kabir and Rahman 2016). Various indications of impairment are as follows Internal sources It is established that the asset became obsolete or it is damaged physically The asset or the CGU of the asset is required to be restructured or it is observed that the asset is kept in idle position for long run While using the asset, the method of use is significantly changed. External source The technological, environmental, market and legal circumstances of the operating environment of the entity has been significantly changed The assets carrying amount exceeds the capitalization of the market Significant change is there with regard to the market rate of interest or market return Owing to normal wear and tear the value of the asset changed considerably. a.Evident of impairment with regard to Myer Holdings Ltd Asset flow if the impairment test is carried out taking into consideration the asset flow of various stores of Myer, it can be recognized that that no indication is there with regard to impairment for any of the stores as there is no significant change noticed for past few years. Therefore, indication of impairment is not established. Turnover of asset taking into consideration the turnover of assets, it is identified that the turnover is ranged from 1.40 to 1.80. Therefore, significant shift is not there that can establish the indication of impairment (Investor.myer.com.au 2017). However, though above tests do not recognize any asset for impairment, it identified that to compete with the Amazon, Myer planned to change the outlook of the departmental store at Frankton. Under the planning they want to change the traditional black and white get-up of the store with the vibrant yellow colour. Further, the uniform of the store staffs will be changed from the traditional one. Moreover, the storage system will be altered in such way that will give more space for storage. All these significances will be regarded as partial restructure as per AASB 136, which is regarded as the internal source of information for the indication of impairment of the store (Malone, Tarca and Wee 2015). Therefore, the store in Frankton shall be tested for impairment. b.Process of determining impairment For calculating value or amount of impairment of assets when there is any indication of impairment of any assets of organization, in such event, it is essential to measure the carrying value of assets and value in use. The approval of assets by the management of company regarding assets forms the basis of forecasting the cash flow generated by assets. Forecast of cash flow is generally for long-tem. Management make use of terminal rate of growth for calculation of cash flow for long time that is five years (Christensen et al. 2015). Following assumptions have been made for the calculation of cash flow generated by assets and they are as follows: Pre discount rate has been assumed to be at 14.4% Terminal growth rate is assumed to be at 2.5% Rate of operating margin concerning goods profit are assumed to be at 39.5%. A separate evaluation of each of stores of company is done in order to recognize and establish impairment requirement. Moreover, forecasting of cash flow generating from assets is done based on budget of cash generating unit. Calculation of amount of impairment is doneif there is establishment of indication of impairment. Value in use and carrying value of asset are used for calculating amount of impairment (Wang 2014). c.Information relating to determination of impairment In order to make the recognition of loss associated with impairment and to carry out test of impairment, it is required in part of organization to make detail disclosures. It is crucial to determine the value of impairment and the reason is attributable to fact that impairment is made using recoverable value and through value in use. Under the revenue statement, identification and recognition of loss associated with impairment is treated as expense. Under balance sheet, such amount is deduced from asset closing value of assets. Impairment of cash generating unit of assets is regarded for the purpose of impairment when the recoverable amount of assets is less than carrying amount of assets. It is necessary for organization to reverse the amount of loss associated with impairment in previous accounting period concerning goodwill or any assets. This is done in the event if the forecasted value of the recoverable value of assets that are impaired changes (DeZoort et al. 2017). d.Flexibility Myer Holding Limited management for determining impairment It is not essential for management of company to be expert in accounting as per Australian securities and investment commission. In such cases, management of organisation can seek help from accounting firms or by hiring accounting experts. When the forecasted or projected value relating to accounting does not tally with the required or actual outcome, it is required by them to discuss matters with accounts by conducting in depth analysis. Data in financial statements can be presented with more clarity when such analysis is conducted (Pacter 2014). As per the requirement of Australian accounting standard board 136, the facts ascertained in the given case of Myer Holdings Ltd. In such case, it becomes essential for management to carry out test of impairments at least once in a year. Furthermore, for measuring the amount of loss related to impairment in the event of any indication of impairment, it I required by company to instantly measure the value in use and recoverable value. From the analysis of case, it is regarded that for carrying out impairment tests, Myer Holdings Ltd is very adjustable. Survey regarding carrying value of assets is conducted by organization for each of store and existing signs of impairment is distinguished (Albu et al. 2014). Test of impedance is guaranteed by organization as per AASB 136 fundamentals. Moreover, various levels of certainties such as estimation of impairment is decided by organization. Therefore, it can be concluded that companys management is flexible when it comes to determine the los s of impairment and carrying out impairment tests. References: Aasb.gov.au. 2017. Australian Accounting Standards Board (AASB) - Home. [online] Available at: https://www.aasb.gov.au/ [Accessed 26 Aug. 2017]. Albu, C.N., Albu, N. and Alexander, D., 2014. When global accounting standards meet the local contextInsights from an emerging economy.Critical Perspectives on Accounting,25(6), pp.489-510. Christensen, H.B., Lee, E., Walker, M. and Zeng, C., 2015. Incentives or standards: What determines accounting quality changes around IFRS adoption?.European Accounting Review,24(1), pp.31-61. DeZoort, F.T., Wilkins, A. and Justice, S.E., 2017. Call for papers: The limits of accounting regulation.Journal of Accounting and Public Policy,45, p.30Z. Investor.myer.com.au. 2017. Myer Investor Relations. [online] Available at: https://investor.myer.com.au/Investor-Centre/ [Accessed 26 Aug. 2017]. Kabir, H. and Rahman, A., 2016. The role of corporate governance in accounting discretion under IFRS: Goodwill impairment in Australia.Journal of Contemporary Accounting Economics,12(3), pp.290-308. Malone, L., Tarca, A. and Wee, M., 2015. Non-GAAP earnings disclosures and IFRS.Accounting and Finance. Pacter, P., 2014. Global accounting standards-from vision to reality.The CPA Journal,84(1), p.6.Page, M., 2014. Business models as a basis for regulation of financial reporting.Journal of Management Governance,18(3), pp.683-695. Wang, C., 2014. Accounting standards harmonization and financial statement comparability: Evidence from transnational information transfer.Journal of Accounting Research,52(4), pp.955-992.

Analysis of Whirlpool

Abstract Change management is one of the topics in business, which have been accorded a wide range of coverage. This is mainly based on the fact that change management has been found to have a profound impact, with regard to the performance and future of any business organization around the world.Advertising We will write a custom report sample on Analysis of Whirlpool specifically for you for only $16.05 $11/page Learn More Although it has been described by a host of authors and business experts, change management can generally be defined as a systematic shift from the current status of a business organization or an individual to a more desirable state. Even though this term exists, it has turned out to be ambiguous to some people based on the aspects, which it encompasses (Goldsmith Carter 2009). These aspects include but not limited to adaptation to change, control and implementation of change. Introduction This report gives an analysis of Whirlpool Corporation with regard to change management. It is divided into various segments to ensure that all aspects of change management, which relate to the firm, are addressed in a concise manner. For instance, the report will give a summary of the case, by featuring critical facts. Under this, the analysis will focus on specific change that was introduced by the company, together with factors, which triggered the adoption and implementation of the change. Besides this, the report will feature relevant change management issues, which are faced by the company. Under case analysis, appropriate change management models and theories will be applied by referring to authentic literature like books and journal articles. This will help in understanding the manner in which change at Whirlpool Corporation is being implemented and received. Home Appliance Industry The industry emerged in the early 20th century with a few home appliances like refrigerators, washing machines and temperature controlle d stoves among others. However, most of these appliances had an array of disadvantages as others like the refrigerator contained explosive substances. In addition, the Great Depression and World Wars experienced during the 20th century also affected the growth of the industry, as it picked up in early 1950s (Rivkin, Leonard Hamel 2006). Due to emerging technology, most home appliances became attractive, effective and cheaper as compared to earlier years. Through regulations, home appliances were designed based on energy saving principles. Additionally, they were environmental friendly through compliance of manufacturer with laid rules and regulations (Goldsmith Carter 2009). With regard to consumers, most of them had diverse tastes and preferences. However, some were influenced by residential constructors who fitted houses with home appliances, mostly obtained from companies with fair prices. Nevertheless, customers got involved in direct purchase of the products during replacemen t of worn-out appliances (Rivkin, Leonard Hamel 2006).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More During this time, most of them were influenced by their friends and media advertisements, with a few opting to get details online, even though the channel had not advanced as it is today. Customers were also interested in special features of particular appliances, say efficiency, energy saving, reliability and warranty among others. The industry has also experienced change in the manner in which products reach their customers in various parts of the world. This is based on the fact that the industry has continuously responded to changes, which take place within the market. For example, specialty stores were common in 1960s, accounting for more than fifty percent of home appliances that were being sold in the United States. Mass merchants included Sears, Montgomery Ward and J.C. Penney (R ivkin, Leonard Hamel 2006). On the other hand, independent stores, became a diminishing channel as some of them became bankrupt, thus playing a less influential role in the market. It is also important to note that most stores adopted varying approaches in selling appliances. As a result, they offered different prices even though manufactures influenced retailers through incentives and sales promotions. Like in any other industry, home appliance industry has witnessed competition since 1940s. Manufacturers resolved to any means possible to outdo each other in the market. Mergers and acquisitions were common for the purpose of gaining dominance in the market. For instance, Whirlpool bought KitchenAid in 1986. As a result of this trend, 93% of home appliances were being manufactured by four companies in 1998. General Electric remained to be a major player in the market, serving up to twenty eight percent of the American market (Rivkin, Leonard Hamel 2006). Whirlpool Corporation Whir lpool Corporation is a multinational manufacturer of major appliances, based in Michigan, United States. The company has approximated annual revenue of $18.4 billion, more than seventy thousand workers and more than seventy centers around the world, which are involved in manufacturing and research. It has been noted that Whirlpool Corporation markets its products in almost every country around the world (Whirlpool Corporation 2012). The company was founded in the year 1911, and became the leading manufacturer of home appliances after surpassing Electrolux. Throughout its business history, Whirlpool Corporation has undergone tremendous transformation in order to fit in a competitive business world, which presents new challenges that have to be confronted.Advertising We will write a custom report sample on Analysis of Whirlpool specifically for you for only $16.05 $11/page Learn More Due to these demands in the market, Whirlpool Corporation adopted change management attitude, which has consistently propelled it to become one of the leading companies in the world today (PENSKE 2012). As it shall be seen in the following segments of this report, certain factors have contributed to this trend. Anticipating the change Like many other companies around the world, Whirlpool Corporation experienced the need for change management even though there were hitches, which hampered these efforts. In 1998, the executive committee of the firm launched â€Å"Brand-Focused Value Creation,† which was aimed at shifting the company’s attention to the needs of customers. In essence, the company was headed towards delivering better solutions to its customers and increasing their loyalty to products, thus benefiting shareholders. However, this was not an easy task as the organization had to face an array of challenges (Whirlpool Corporation 2012). Forces against change It is important to note that by the time the executive committee of the fir m unveiled the â€Å"Brand-Focused Value Creation† strategy, similar change efforts had failed twice in 1987 and 1990. According to Dave Whitwam, the company had resisted being converted into branded organizations in 1987 before resisting the â€Å"Dominant Consumer Franchise† initiative in 1990. These efforts targeted customers as the management believed that customers found it hard to penetrate the organization (David Whitwam 2012). This was based on the fact that Whirlpool Corporation had concentrated on operations since it was an engineering-oriented company without paying attention to the need for marketing its products in a competitive business world. Although there was resistance with regard to customer needs and brands, Whirlpool Corporation experienced immense growth through globalization, quality improvement and cost reduction. However, in understanding this change management issues at Whirlpool Corporation, it is equally important to consider the business en vironment so as to identify some of the forces within the marketed which compelled Whirlpool to initiate change strategies. Forces for change As the Chief Executive Officer of Whirlpool, David Whitwam believed that there was need for the company to implement change management in order to thrive in the market (David Whitwam 2012). The following are some of the factors which contributed to this move:Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Globalization Whitwam noted that domestic competition, which existed and the entry of Electrolux were enough reasons to implement change at Whirlpool. The market was basically being dominated by Whirlpool, General Electric, Maytag and White Consolidated, which had been acquired by Electrolux (100 Years at a Glance 2012). As the chief strategist of the company, Whitwam was convinced that the industry was getting global, whether the players shifted their operations to a global scale or not. As a result, Whirlpool’s leadership consolidated efforts to redefine the company’s globalization ideas. Whirlpool adopted the â€Å"Reaching Worldwide to Bring Excellence Home,† a strategy that was to augment the presence of Whirlpool in major markets around the world. To enhance its presence in all markets around the world, Whirlpool kicked off by acquiring Philips in 1991, making it the largest manufacturer of home appliances in the United States and the second largest in the world. It further expanded to Asia, Europe and had a good relationship with Brazil (100 Years at a Glance 2012). y 1998, Whirlpool operated forty-four facilities in thirteen countries around the world. Although the company registered this major success, it also had a share of losses. It experienced stiff resistance in Europe, experienced a failed joint venture with a Chinese firm and incurred huge losses in Asia and Latin America. Whirlpool’s globalization strategy was not easy even in manufacturing. Due to existing differences in manufacturing practices and performance, products from different facilities around the world had variations (Goldsmith Carter 2009). As a result, the company spent most of its time and resources establishing a global operating platform. The company however remained aware of its competitors. It analyzed its competitors’ products as a way comparing the cost of production. As mentioned before, whirlpool produced a wide range of brands as a way of meeting the global market needs. In particular, four major brands were manufactured, which were: the Flagship, KitchenAid, Roper and Kenmore (Rivkin, Leonard Hamel 2006). To achieve this, it partnered with several distributing channels. For example, independent appliance channels specialized in Whirlpool and KitchenAid brands. Other channels included Sears, Lowe and Costco. However, Sears was given the highest priority among all the distributing channels. To achieve this target, the company required effective support functions. Its organization remained intact with a marketing team at all corporate headquarters. The company experienced a low turnover in the human resource department, with manageable costs in promotion, and research and development. The need of identifying and nurturing the values and culture was also paramount as Whirlpool scaled to higher levels of performance in the entire industry (Goldsmith Carter 2009). This was led by Nancy Snyder, who was serving as the director for organization and leadership change. The process was mainly done through workshops and trainings by managers, emphasizing four core values: respect, integrity, teamwork, and customer insight. Value creation was highly emphasized as the company took the path of brand. As a way of executing this, the executive committee launched the â€Å"Dominant Consumer Franchise,† whose main objective was to win the confidence of final consumers in choosing Whirlpool products. Through case studies, market surveys, and ethnographic studies, the company was able to develop customized products, which fitted the needs of different customers around the world. Above all, costs and quality were well checked in augmenting operational excellence (Rivkin, Leonard Hamel 2006). Task forces were established, which addressed employee pride, customer passion and shareholder performance. The findings of the task forces were synthesized as a way of understanding the kind of change that was rel evant to Whirlpool Corporation. It was found out that Whirlpool needed to produce innovative branded solutions in order to win the loyalty of its customers and command price premiums within the market. Change Process In order to spark change at Whirlpool, the executive committee initiated efforts, which had not been witnessed in the company’s history. The backbone of this was to emphasize on innovation throughout its operations and everywhere around the world. Gladiator GarageWorks was one of the innovative ideas (Rivkin, Leonard Hamel 2006). Others included Personal Valet and Inspired Chef. Since its introduction in 1998, the shift to adopt innovative operations picked slowly as managers assimilated it into their operations. Nevertheless, some managers confessed that they did not understand the Brand-Focused Value Creation strategy that had been proposed by the executive committee. The principle behind the strategy was to promote customer loyalty even though it wasn’ t clear how innovative operations would be incorporated on a global scale. Snyder and Whitwam found no conviction in some innovation ideas, which were being practiced by several companies. Some of these included the â€Å"great man† theory of innovation or the â€Å"skunkworks† theory. The challenge was therefore how to embed innovation in the organization as a change strategy. Starting the change Process As the vice president of innovations, Snyder was tasked with rolling out an innovation platform. This was launched simultaneously in three of Whirlpool’s largest markets: North America, Europe and Latin America. Training of managers and other individuals was crucial in ensuring that they understood the meaning of innovation and its projected impact in the future operations of the company. However, most people expressed uncertainty in the strategy. Innovation trainees were referred to as â€Å"I-Teams,† and were divided into three groups (Rivkin, Leonard Hamel 2006). The first I-Team took nine months before employees resumed their jobs, the second took an extra three months training while the last I-Team was converted into I-Consultants in order to teach the rest of the workforce about innovation. The innovation was also introduced to two hundred Whirlpool leaders who converged in Washington, D.C. in 2000 for an annual strategy conference. This gave the senior management a taste of the role of I-Teams in implementing change in the company. Other change strategies were adopted as Whitwam used senior leaders of the company to form I-Boards, whose main function was to support I-Teams in every region. Their support was to include setting of goals, allocation of duties and reviewing of innovation ideas (Rivkin, Leonard Hamel 2006). This approach seemed to work as I-Team geared towards their task. Methodologies were adopted, to help the company management in detaching from conventions of the industry, generate new business ideas and tra nsform ideas into opportunities. They emphasized the fact that consumers acquired appliances for functional and not emotional reasons. Resource Allocation As Whirlpool geared towards change management, it was clear in the minds of leaders that resources were needed in order to drive the company’s innovative agenda. As a result, the company allocated a total of $400 million to capital investment in 2001. This was shared to regional facilities where each received 10% of the allocation, which was to fund innovation-related capital investments. The amount was raised to 20% in 2002 (Rivkin, Leonard Hamel 2006). Knowledge management There was need to track innovation efforts and disseminate knowledge to other regions from I-Teams. This was initially done using I-Pipe software, which had been adopted from Strategos. The software showed the progress of innovation, by identifying the number of projects in four different stages, which included business concept, prototype, experiment a nd scale-up (Rivkin, Leonard Hamel 2006). The information was available to all innovation leaders through the internet and also to other employees of the company via the firm’s intranet. This was followed by the introduction of the Innovation E-Space, a suite that allowed online visitors to go through a tutorial on innovation, learn how to formulate an idea, interact with innovation mentors and share ideas with other employees through interaction. These efforts were aimed at managing knowledge at Whirlpool Corporation. The company hired a knowledge manager and ensured that every regional branch had a knowledge leader. Other change efforts Besides innovation, Whirlpool considered other efforts in supporting the Brand-Focused Value Creation strategy. For instance, labels on product families were adjusted to carry customer activities as opposed to product lines. These activities included food preparation, food preservation, and fabric care, as the efforts emphasized the Whirlpo ol brand. On the other hand, efforts to improve cost and quality in manufacturing operations were intensified. As a result, the firm continuously registered gains in total cost productivity (Rivkin, Leonard Hamel 2006). The price of Whirlpool products was also checked as a way of winning customers. Although the company had gained tremendously by the year 2001, David Whitwam saw it as the start of an unfinished journey. During that short span, Whirlpool had experienced growth and transformation like never before since Whitwam joined the company. Most frontline employees were full of energy as several change management strategies were implemented by the executive committee (Rivkin, Leonard Hamel 2006). The CEO was therefore concerned with the company’s middle management in the event of an economic recession since it was the most vulnerable phase of management. Brand Focus Even though there were several innovative efforts at Whirlpool during late 1990s, it was just among the e fforts, which the company had to implement in order to achieve the â€Å"Brand-Focused Value Creation† strategy. The sole purpose of this strategy was to develop unmatched levels of customer loyalty within the market. Nevertheless, it is worth noting that innovation was a critical enabler of the strategy as supported by Whitwam, when he served as the company’s CEO (David Whitwam 2012). Besides innovation, the company equally focused on the ability to establish deep insights about consumers, proper partnering with channel distributors and effective production of home appliances by improving quality levels around the world. Diagnosis While Whirlpool was seen to be doing well in terms of change management through I-Teams, there was great concern among senior leaders. Led by the CEO, David Whitwam and the innovation vice president Nancy Snyder, they felt that there was a disconnection between the teams’ efforts and Whirlpool’s existing brands. For instance, A ndrew Batson, the innovation vice president in North America noted that most I-Teams were working on things, which were considered to be outside the box like, garage organizers and exercise equipment. Additionally, the organization of most I-Teams was outside the brand structure (Rivkin, Leonard Hamel 2006). Based on the challenge pinpointed above, the company’s management had to roll out efforts to harmonize innovation with its brands. For instance, the â€Å"migration path† was adopted in order to identify target customers together with desired benefits. These were crucial in determining customer loyalty, regarding Whirlpool’s appliances in the market (Rivkin, Leonard Hamel 2006). The managers were also tasked with reflecting on what the company was going to offer in the future, regarding its brands, thus setting a progress pace for every attribute that was in consideration. The last aspect of the migration path was breaking the progress into discrete innova tions, which were necessary for the company to achieve its intended change management. As a result of the â€Å"migration path† efforts, innovation at Whirlpool was owned by brand management teams unlike previously when it was under individual I-Teams. These management teams comprised of I-Team alumni and other experts who had been trained through Strategos methodologies (Rivkin, Leonard Hamel 2006). Additionally, the company changed the nature of innovation projects to focus on existing business as opposed to concentrating on the company’s opportunities. Internal and External Alignment Embedment Efforts In the understanding of change management at Whirlpool Corporation, it is important to underscore the role played by Nancy Snyder in orchestrating the firm’s efforts to embed a capacity for innovation. As it shall be seen, these efforts were considered by Snyder as workable in her tough path of accomplishing the mission. Vision, goals, and rewards and recogniti on The backbone of embedment efforts was its vision dubbed, â€Å"innovation from everywhere and everyone.† In order to realize this, Snyder observed three layers of goal, which were: business-result goals, embedment goals and individual capability goals. Importantly, there was need to develop measurement and reporting systems whose function was to track the progress towards the above mentioned goals. Through the proposed tracking system, it was realized that progress towards business-results goals was complex to determine. This was based on the fact that the concept of innovation had infused itself more deeply in the organization, making it difficult to establish the scope of innovation impact to the organization. On the other hand, it was easier to track progress towards embedment goals. As noted by Snyder and her monitoring team, this was made possible because of the availability of embedment indicators like individual efforts, number of I-Consultants and I-Mentors and the frequency of I-Board meetings among others (Rivkin, Leonard Hamel 2006). Lastly, the intranet was essential in measuring progress towards individual capability goals. The track-team carried out random surveys on Whirlpool employees quarterly. In general, the respondents described their experience in the innovation process, which had been initiated by the company’s management in 1990s. They also reported on monthly time allocated to innovation and whether the innovation process had changed their job description. Having this level of change management, it was imperative for the company to adjust systems of reward and recognition to promote progress along these strategies (Rivkin, Leonard Hamel 2006). As a result, compensation packages for senior leaders reflected the achievements realized through innovation-related goals. Other bonuses were pegged on economic value, which had been realized and customer loyalty targets. Nonetheless, the management was quick to notice the inef ficiency of monetary incentives as compared to monetary ones. As a result, other options were considered, which included involvement in the dynamic team, job mobility, running of new businesses and visibility with senior leaders of the company. Leadership accountability and development For effective change management, it was made clear to the company leaders that they were responsible for innovation and its embedment as a capability. Individual managers were made accountable for certain tasks like defining innovation success while the executive leadership was accountable for the entire embedment process within the corporation. Importantly, accountability also reached other employees of the company through discussions, which were led by company leaders. Through these discussions, employees were encouraged to focus on long-term priorities, tolerate mistakes and new ideas, and mobility of employees (Rivkin, Leonard Hamel 2006). Notably, this proved difficult to several employees, incl uding those who seemed to be committed to embedment innovation. Change management impact As of 2004, the company had registered tremendous steps with regard to its innovative strategy. It had two hundred and fifty seven innovation projects around the world, tapped into its I-Pipe system. The company revenue had also increased, even as the leadership projected better results (Rivkin, Leonard Hamel 2006). Some of the projects were however shelved, and were to be considered in future to bear fruits at the most appropriate time. It was evident that throughout its change management history, the company realized both gains and losses, which remained a source of motivation for future leaders when planning about change management. Recommendations As mentioned above, change management at Whirlpool had its pros and cons. These laid a platform for future consideration, especially when there is need to shift the manner in which company operations are carried out. In developing new businesses w ithin a company, like the Inspired Chef, which failed at Whirlpool, it is important to understand the underlying challenges (Goldsmith Carter 2009). Of great significance is the fact that the business has to compete for attention with established businesses in the market. Besides this understanding, it is important to involve the entire organization in any form of change management being anticipated by the management. This allows holistic involvement of senior leaders, managers and all other employees in the firm. As a result, efforts get tuned towards the realization of a common goal. Proper communication of the vision to implement change management is equally important in preparing all stakeholders. This should be done through all possible means at the management’s disposal. Additionally, change management drivers should teach appropriate behaviors to the rest of the company (Goldsmith Carter 2009). In other words, senior leaders have to lead by example in order to realiz e profitable change management impact. It is also important to eliminate impediments to change. The management needs to ensure that there are no structures or systems, which undermine the process of change, by empowering risk-takers without necessarily being limited by traditional and industry conventions. In order to drive change, it is important to appreciate the efforts made by every member of the organization. Through recognition and rewards, employees get motivated to be part of the change-process for a common goal (Goldsmith Carter 2009). Above all, no change-vision can be successful by being fitted into an organization. Systems have to be changed progressively, through development of relevant knowledge to propel the vision to its maturity. Above all, Whirlpool and other organizations have to aim at incorporating change into organizational culture to create a link between the success of a company and its new behaviors. Conclusion From the above case analysis of Whirlpool Corp oration, it suffices to mention that the change management, which was initiated by David Whitwam, played a significant role in propelling the company to a leading manufacturer of home appliances around the world. Importantly, the path to change management was not smooth all through; the company management had to confront a wide range of challenges. For instance, it faced stiff resistance in Europe, experienced a failed joint venture with a Chinese firm and registered enormous losses in Latin America and Asia. Although the company was committed towards â€Å"Brand-Focused Value Creation† through several strategies, innovation played a major role in winning the loyalty of customers within the market. Lastly, it is important to acknowledge Whirlpool’s management, led by David Whitwam as it played a crucial role in the entire change management process. References 100 Years at a Glance. 2012. Web. David Whitwam. 2012. Web. Goldsmith, M Carter, L 2009, Best Practices in Tal ent Management: How the World’s Leading Corporations Manage, Develop, and Retain Top Talent, John Wiley Sons, New Jersey. PENSKE. 2012. Web. Rivkin, J, Leonard, D Hamel, G 2006, ‘Change at Whirlpool Corporation’, Harvard Business Review, vol. 9 no. 705, pp. 1-39. Whirlpool Corporation. 2012. 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Golicinski Essay Example

Golicinski Essay Example Golicinski Essay Golicinski Essay Robert Gordons new book tells the history of Stax Records, the famous Memphis label responsible for some of Southern souls definitive recordings. Stax began in a Memphis garage in 1957 as Satellite Records, a project of Jim Stewart, soon Joined by his sister Estelle Axton, both white. From these humble beginnings, it enjoyed a fairy-tale rise, becoming a revered name, the home of the great Otis Redding, of Soul Man and In the Midnight Hour. Gordon tracks this glorious ascent?†and a vertiginous fall?†as the label eventually collapsed under its own weight. He delivers a compelling tale with maximum effect, drawing on interviews with singers, musicians, songwriters, producers, secretaries, label heads?†everyone he could get his hands on. We know at least two other excellent histories of Stax. The noted chronicler of Southern music, Peter Guralnick, devotes a portion of his book Sweet Soul Music to the label, while also exploring the music of Muscle Shoals, Ala. , and Macon, Ga. In addition, Rob Bowmans Soulsville, U. S. A. devotes itself entirely to the history of Stax. (Bowman earned a Grammy for the liner notes he wrote to accompany The Complete StaxNolt Soul Singles compilation. ) Gordon holds his own. He doesnt appreciate Isaac Hayess album Black Moses, and he makes the occasional cheesy Joke?†Dance? The horizontal dance?†but such minutiae dont obscure the point. The story of Stax is undeniable. In the beginning, you really loved me After a couple of years in the garage, Jim and Estelle moved the operation to an old movie theater and renamed it Stax (Stewart/Axton). They set up a studio in back and a record shop in front. Jim initially felt lukewarm about RB, but Ray Charless Whatd I Say earned his loyalty. : Stewart and Axton established an open-door policy, and Memphiss musicians seeped into the studio in talented, curious clumps. Rufus Thomas, a local performer and D], came by to give recording a shot. He brought his daughter, Carla Thomas. William Bell?†who penned mfou Dont Miss Your Water?† sometimes sang backup for Carla. Booker T. Jones, a talented high school student, skipped class to play horns on a Rufus Thomas session. A1 Jackson, an older, talented drummer who would play with two of souls greatest singers, Otis Redding and A1 Green, knew Booker through club gigs, so he occasionally played at the studio. Jackson provided an injection of punctuality and discipline, a firm rhythmic anchor for the high school kids?†another group of whom busily bonded with Estelle Axtons Cropper, whose guitar playing would help define Stax recordings, drawing the admiration of famous musicians from the Beatles to Lou Reed. Jackson taught Cropper to play his guitar like a drum, emphasizing the instruments rhythmic properties. Jackson also wanted him to pay attention to the beat. l never worked with anyone who thought keeping time was so important, said Booker about Jackson. He would hit you over the head with a drumstick if one eighth ote or a sixteenth note was off. Stays first phase came to a close with national success. Carla Thomas landed Gee Whiz on the charts in 1961, and Jerry Wexler of Atlantic Records swooped in, agreeing to handle distribution for 1 5 cents on the dollar. (Some of Carlas releases also came out on Atlantic rather than Stax. ) The same year, those high school smokers?†now the Mar-Keys?†recorded Last Night, which sold more than a million copies. Here the cruel outside world butts an ugly head into Stays fairy tale. First was the issue of authorship and its rewards The money from a hit goes to the songwriters. Just three people got their names on that record as writers. (Estelle sneaked on her sons name. ) No one cared too much at the time, but it foreshadowed future events. I was too blind, I could not see Stax ascended with dizzying speed. The addition of Donald Duck Dunn on bass cemented and settled the house band, now under the name Booker T. the M. G. s. The integrated group?†hit-making long before the Family Stone or the Jimi Hendrix Experience?†laid down a heavy groove, and they soon had a big song of their own with Green Onions (like Last Night, another instrumental number). More people came to the record store?†or tried their hands in the studio. A guitarist named Johnny Jenkins showed up, high on style, low on substance. (In fairy tales, not everyone turns out to be what he seems. ) But Jenkins had this driver by the name of Otis Redding who kept insisting he could sing The MGS improved steadily. Isaac Hayes stepped in for Booker T when he took a break to attend Indiana University, and Hayes quickly learned how to write popular tunes, with the help of an insurance man named David Porter. Hayes and Porter connected with another duo by the name of Sam Dave, collaborating on a series of racing soul hits. Enter promo-man extraordinaire, A1 Bell, six-feet-four bundle of Joy, two hundred and twelve pounds of Miss Bells baby boy. Soft as medicated cotton and rich as double-X cream. The womens pet, the mens threat and the playboys pride and Joy. enhance the administrations credibility among the [mostly black] employees. We werent a professional company before A1, says Booker T. Jones. We didnt have big business going on. We had big music going on. They did have that. Otis Redding, Wilson Pickett and Sam Dave now consistently landed hits and all recorded classic albums. Bell put the musicians on salary?†it meant they didnt have to work day Jobs and play club gigs and do reco rding sessions to make a decent living. It also led, though, to new proprietary concerns. Suddenly, making music became a livelihood, not a fun outlet on the side. (Gordon terms this new responsibility and its new set of problems weeds in the garden. ) Stax started doing well enough to be choosy. The label decided not to work with Wilson Pickett after his album In the Midnight Hour. (He proved to be royal pain in the studio. ) Stax passed on chances to play with Gladys Knight and Aretha Franklin. Bell even turned the music in a new direction, noting an increased price margin on albums. Stax only released eight albums in 65 and 11 in 66. That would begin to change. You dont miss your water till The end of 1967 and 1968 brought Stays third phase. In December of 1967, Otis Redding and several members of the Bar-Kays died tragically in a plane crash. Its hard to imagine any label coming back from the loss of such an international star. Unfortunately for Stax, that disaster turned out to be Just the beginning. The year 1968 exploded, upheaval everywhere. A sniper shot and killed Martin Luther King in Memphis at a hotel Stax musicians and songwriters frequented. Riots took place across the country. About this time, Jim Stewart realized he had somehow managed to give Atlantic the rights to all Stays master recordings. Atlantics Jerry Wexler claims that it all happened accidentally, that no one read the contract. It turned out that there was a clause whereby we owned the masters, a clause stuck almost exactly halfway through the thirteen-page contract. Atlantic, writes Gordon, owned everything that it distributed for Stax?†even though t said Stay on the label, even though Stax has paid all the money associated with those records and Atlantic had paid none and was at risk for not a single penny. Bottom line: Wexler, one of the shrewdest and cruelest men in the record business, had easily duped the inexperienced Jim. (Wexler insists in the book that he knew nothing about it and tried to give the masters back, but was prevented by the head of It was corporate homicide?†polite, sterile and deadly, writes Gordon. To add insult to crippling injury, Sam Dave Jumped to Atla ntic. We find Stays last stage riddled with great music, violence and greed. The studio engineered the Soul Explosion, releasing 27 albums and even more singles in 1969 to make up for the loss of their masters. A1 Bell looked actively to cross over from R to pop?†he brought in Don Davis, who arranged strings for Motown. Isaac Hayes leapt from behind-the-scenes songwriter to massive solo star, releasing popular albums that influenced the course of R. Big hits brought big money. Whatever remained of the family illusion at Stax, Gordon writes, fell away, exposing a hierarchy of individuals, a business. The hierarchy forced out Estelle Axton, who once mortgaged her house for the label. Bell eventually bought out Jim Stewart in 1972. Musicians and singers also began to spend extravagantly, attracting sharks on the prowl for a cut. The studio hired security; these men too often turned out to be sharks who simply switched sides. Hayes reveled in his new power?†on one occasion, he had bodyguards beat one of his touring musicians nearly to death for ordering too much room service. People began to carry guns?†guns in a recording studio. They worried about being robbed for ostentatious displays of wealth, but also for more troubling reasons?†after he assassination of Martin Luther King, the semblance of racial unity that existed at Stax, and in Memphis, faded. Resentment, hostility and fear were roiling among Memphis business elite They [Stax management] were afraid someone would hide drugs in Stax, then try to bust them. A1 Bell felt that guns were an American institution used mainly by the white majority to maintain and consolidate power. He relates that he felt trapped, and forced to defend himself and his employees. On top of these problems, new considerations suddenly influenced creative decisions. Bell told Gordon, Were talking about major Wall Street corporations and how their decisions and their thinking impacted with us and interfered, and in some instances, prohibited us from producing certain music. Key musicians, including Steve Cropper and Booker T. Jones, couldnt take the situation. They left town for L. A. Meanwhile, the wildly ornate compositions of Hayes didnt necessarily bode well for the studios old standby?†tight, stripped down R. Worst of all? No one could rein in the spending. Stax stayed friendly?†maybe too one asked questions, they Just kept asking for more. Stax grew to have the fifth- ighest revenue of any black-owned business in the nation in 1973. Despite this, the company didnt have a real, structured management system, writes Gordon. Just two years later, deep in debt and out of hits, the whole thing imploded. The white-owned bank used Stax as a scapegoat for fraud charges. The predominantly black record company never had a chance. (Corporate homicide, part two. ) A1 Bell went to trial. Jurors eventually acquitted him on all charges. The story of Stax captures the essence of the American dream. A tight-knit, talented group of working-class men and women, black and white, start out in a garage and go n to make national hits and earn screaming adulation on international tours. They work hard, they get better, they do something unique. They do it without the benefit of silver spoons or friends in high places. They get so big that the Beatles want to Jam with Otis Redding and record Revolver at Stax. Stax also captures the essence of the American nightmare, the one people dont necessarily talk about. In a market economy, success leads to money, and money must be divided somehow. This creates winners and losers, haves and have-nots. Resentment shows up, sits down, festers. Money-making has a way of perpetuating itself. Its an addictive drug. It shifts priorities, so growth becomes the name of the game. People get left behind, or phased out in the name of consolidation. Then guns and violence make a cameo as Americas way of protecting earnings and ensuring loyalty when market-driven expansion tears apart ties of family and friendship. Thats the thing about American fairy tales. All too often, they dont have a happy ending. Elias Leights writing about books and music has appeared in Paste, The Atlantic, Splice Today, and Popmatters. He comes from Northampton, Massachusetts, and can be found at signothetimesblog.

Legal Regime for International Sales Today Essay

Legal Regime for International Sales Today - Essay Example buyer and seller, employer and employee. First and foremost, trade and commerce had to be expanded between European countries as the local industries developed a pressing demand for materials to fuel and feed such industries. The new lavish lifestyles that exuded from the new-found affluence; the race to colonise new, distant lands; the need to protect affluent kingdoms from belligerent, covetous, hostile states demanded the need to engage in frenzied commerce and trade not only with fellow European countries but also the 'New World' which beckoned with 'exotic' commodities such as coffee, tea, tobacco, chocolate, sugar cane, potatoes, spices, gold, silver and other metals. The demand for cheap labour created the new commerce of buying and selling of African slaves. With Antwerp and Amsterdam such as the East India Company, the Hudson Bay Company and the South Sea Company, international commerce had become an economic activity which needed regulation and protection. The economic doctrine of Mercantilism ruled international trading and commercial law had to be designed to govern these international merchants. These customary, regulating rules were unified into one set of rules called the law merchant which is also referred to as the lex mercatoria or jus fort or jus forense (Schmitthoff 1968, p. 105). The law merchant or lex mercatoria is a "body of principles and regulations applied to commercial transactions and deriving from the established customs of merchants and traders rather than the jurisprudence of a particular nation or state" (Law Encyclopedia). It is also the system of rules and customs and usages adopted by such traders for the resolution of their controversies. It is codified in the UCC or Uniform Commercial Code which is a body of law, adopted by the states to govern their mercantile transactions. Because of the growing incidence of international disputes between transacting countries, such disputes were resolved through international commercial arbitration which were governed by lex mercatoria. The parties signed a contract clause in which they agreed to the provisions of lex mercatoria, which provided that an arbitrator applied the customs and usages of international trade as well as "the rules of law which are common to all or most of the states engaged in international trade or to those states which are connected with the dispute" (Lando 1985, p. 747).