Liberalizing the Eu Energy Market - 1718 Words

Q.1 What do you think are the economic benefit of liberalizing the EU energy market? Who stands to gain the most from liberalization? The economic benefits of liberalizing the EU energy are followings. First, greater efficiency leads to lower costs and prices, which is improving competitiveness. It is also crucial for companies that are competing in a more global market. As liberalization and the introduction of competition becomes more widespread across Europe this should lead to further efficiency gains, costs reductions and the potential for lower prices. A completely open European market will allow all consumers to benefit from the cheapest available sources of energy and will drive companies’ costs down based on economic scales.†¦show more content†¦ON and RWE in Germany – to retain ownership of their gas and electricity grids, provided that they are subjected to outside supervision. After liberalization, the transparency of each energy company has been increased. All energy company needs to follow the same regulations and restrictions among the market. Independent power marketing companies will be able to buy energy from the cheaper source, whether it is within national borders or elsewhere in the EU. The market for an energy provider is not just a region or nation, but also Europe. Till now, liberalization has increased the strength of dominant market actors and regional oligopolies are likely. At this point, the role of regulator increasingly important After liberalization, privatization often occurs. For instance, nearly Czech model, they were selling State owned companies which is the whole electricity industry to private companies. For participating in liberalization, energy producers have to increase their competiveness ability by investing utilities and increasing innovation within the energy industry. They have to break up existing companies into small parts and prevent monopolies. They have to allow new market actors to share the market. Energy producers need to follow the internal market rules and competition rules within EU. They need to provide energy supply reserved data to EU and allocate energy to areas most in need toShow MoreRelatedThe European Communitys Involvement in the Energy Sector 1482 Words   |  6 Pagesareas have grown most markedly in recent years. Energy RD constitutes a major, yet declining, share of the total RD expenditures of the European Union (EU). Adoption in 1996 of a Directive for the Internal Market for Electricity: The Directive marks the first major legislative step toward the creation of an open and competitive European electricity market. Under this law, all Member State s were required to open at least 25.37% of their electricity markets to competition as of February 1999. Under theRead MoreThe European Energy Market Essay665 Words   |  3 PagesThe European Energy Market For several years now the European Union, the largest regional trading block in the world, has been trying to liberalize its energy market, replacing the markets of its 27 member states with a single continent wide market for electricity and gas. The first phase of liberalization went into effect in June 2007. When fully implemented, the ability of energy producers to sell electricity and gas across national borders will be improved, increasing competition. The roadRead MoreGreece s Impact On The Economy896 Words   |  4 Pagesformer currency of Greece). Because of this, Greece joined the European Union in 2001 which was two years later than other nations. After joining the EU, Greece had a time of prosperity. This did not last too long as a financial crash occurred in 2008. This affected other countries in the EU, but Greece was hit the hardest. 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It reflects both a desire to limit the scope of free-riding that may arise because of the MFN rule, and a desire to obtain better access to foreign markets. A related point is that for a nation to negotiate, it is necessary that the gain fromRead MoreImpact of International Business on the Global Economy4621 Words   |  19 Pagesinternational levels has driven firms to look beyond their domestic markets for new opportunities. The progressive removal of barriers to trade and capital movements has stimulated greater flows of exports, imports and foreign direct investment (FDI). Multinational enterprises have emerged as the key agents of international economic coordination. 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Live in City or Countryside free essay sample

If you have an opportunity to choose a place to live, what will be the perfect place in your dream; the bustling city or the silent countryside? Nowadays, more and more people move their home to the countryside. â€Å"Although the UK is an urban society, more and more people are choosing to live on the edge of urban areas with many relocating to the countryside. This is called counterurbanisation. †(http://www. bbc. co. uk/schools/gcsebitesize/geography/settlement/urbanisation_medcrev1. shtml). This condition has become an interesting social phenomenon. Moreover, people are more likely to go on vacation in some sweet little village or some famous and distinctive towns. There are a lot of differences between the city and the countryside, and when people consider living in either place the differences become more significant. People often think that living in the countryside is boring, inconvenient, and lonely, while living in the city seems more exciting and fashionable. But nowadays it is seems not a big case anymore. People can still find a lot of fun activities in a country lifestyle such as camping, hunting, building a tree house, fishing, framing, planting flowers and trees and so on. The purpose of this essay is to contrast the differences between living in the city or the countryside. There are three major differences between the city life and the country life; the environment is different, the life style is different and the people’s happiness and life satisfaction is different. Also they are the reasons that people are preferring living in the countryside. The first major difference between living in the city or in the countryside is the environment. The city is the culture and industrial center. There are modern buildings, many cars and people on the street, and the exhaust and dust fill the air; People hardly see the beautiful clear sky in the city. Also the city has a large population that causes many kinds of pollution such as air pollution, water pollution, and noise pollution. On the other hand, the first thing that comes to mind with the environment in the countryside is the endless farms, the lovely cottages, the joyful bird-song and the beautiful flowers and trees. You can breathe the soft fresh air and taste the clean water in the countryside. The countryside is a batter place  to live because of less population and pollution. The second major difference between living in the city or the countryside is the life style. Everyone in the city is busy; they are busy at work, busy going to school, busy finding a job, busy earning money and busy going to parties. There are so many plentiful activities to do in the city. In comparison, living in the countryside is obvious ly more relaxing; people have simple and comfortable life there. They do not have to spend most of their time earning money because the goods are always cheaper than in the city including the housing price. As a result, people may have more free time to be closer with the nature. You can usually see some lovely animals and be enchanted by the sunrise and sunset. What a wonderful life, it seems that people in the countryside always on a vacation. In addition, people living in the countryside are healthier than people in the city. â€Å"The study from the Office for National Statistics said fresh air and healthy lifestyles contributed to the advantages of the countryside. †by Steve Doughty (from internet Mail Online). The countryside is a better place to live because of the healthy lifestyle. The last but not lest difference between living in the city or the countryside is people’s happiness feeling and their life satisfaction. Firstly, compare to the problem of stress, people living in the countryside is relatively less than people living in the city. â€Å"Compared with people living in rural areas, persons living in urbanized areas are at higher risk of suicide. The risk of suicide in the general population increases progressively with the increase in the degree of urban city of the place of residence; and the highest risk ratio is 1. 58 (95% CI 1. 51–1.  65) for people living in the capital. †-by Ping Qin March 21, 2005 (from Internet International Journal of Epidemiology). Therefore, too much pressure will cause serious problem. Secondly, the family relationship and relationship with neighbors sometimes are also different between the city and the countryside. People living in the city do not have much time with their family members because they spend a lot of time on social activities. They are easily to ignore the importance of family relationship. Parents are too busy to educate their children, even talk to them. Adults are too busy to visit their old parents, even greeting. People living in the city barely know their neighbors name. One the other hand, people in the countryside are very close with their family and neighbors. Also, countryside is a place where you dont have to lock your car or even your front door. The security has eliminated people’s estrangement and misunderstanding. Living in the countryside, people can spend more time with their family, parents have can rise their children by themselves and educate them become a good person. â€Å"Being physically healthy often leads to good mental health. A study even showed that people residing in the countryside have slightly better mental health than people in the urban areas. †Ezine Articles. In the countryside, neighbors will ask you visit them for dinner and gets together to celebrate holidays. Countryside is a nice place to live because of people can closer to each other and happier. Conclusively, the city is a place which full of vanity and wealth, People here sometimes lost themselves, they fight all the time, fight with bad social phenomenon, and constantly struggle with other people. Stroke by stroke, people lost their original kind and simplicity. The busy life makes people have no leisure to appreciate the scenery around them, and hardly to realize their most precious emotions and relationship and to cherish them. As a result, people should living in the countryside. They should living in a beautiful area, with the cleaning air, sweet water, and the fresh food, away with pollutions. People should have a healthy life style, to appreciate the wonderful world, and the miraculous life.

ZINN chapter Essay Example

ZINN chapter Essay Today the United States must still be the alpha dog, greater than all other countries but it isnt about who has the larger club its about who has he bigger weapon. If you asked people on the streets if they thought violence was appropriate for achieving things most would say no unless it was absolutely necessary. This is idea has been instilled in us for many years. We are taught not to use violence unless its needed but what if we were taught that violence is never needed? Maybe our politicians wouldnt send millions to people to die in wars that are necessary, maybe there would be billions of dollars left over to educate our children, create jobs, and clean our planet. Politicians have been using this concept for years by telling us that it is accessory to kill millions of people in war and it is necessary for billions of dollars to be spent on weapons. Not many people have questioned authority and plead for justice and if they had not very many of us have heard of it, Chapter I I is ultimately about achieving justice without massive violence using dissent. We will write a custom essay sample on ZINN chapter specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on ZINN chapter specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on ZINN chapter specifically for you FOR ONLY $16.38 $13.9/page Hire Writer P-1) Dissent is the ultimate power. P. 2) Nonviolent direct action is an example of dissent. Therefore, nonviolent direct action is the ultimate power The argument is valid; premise 2 is acceptable because many protesters use nonviolent direct action to express their dissent. Premises is also valid because the whole book is about dissent being the ultimate power. Overall, the argument is sound. Nonviolent direct action is more powerful than nonviolence, on page 289 Zion uses an example of Dry. Martin Luther King Jar. Being praised by many political leaders for his nonviolence. These same leaders are the ones who have done violent acts to other people and countries. The difference between nonviolence alone and nonviolent direct action is that nonviolent direct action is about striking at injustice immediate rather than waiting and being passive. Direct action does not deride using he political rights, the civil liberties, even the voting mechanisms in those societies where they are available( as in the United States), but it recognize the limitations of those controlled rights and goes beyond. (Passionate Declarations, 289). Zion tells that freedom and justice have been excuses if violence but are still our goals; however, we must achieve them in different ways than we did in the past. Zion starts Chapter 2: Machiavellian Realism and U. S. Foreign Policy: Me and Ends, with an example of direct action being used over 500 years ago. Is the story of a monk in Florence named Savonarola who was hanged for reaching the belief that people could be guided by their natural reason. Since his beliefs threatened the importance of the Church fathers, Savonarola was arrested and tortured for ten days before he gave them a confession. The monk was sentenced to death and was hanged, stoned, and burned in front of the public. Machiavelli refers to Savonarola and says, Thus it corn about that all armed prophets have conquered and unarmed ones failed. Political ideas are centered on the issue of ends (what kind of society do M want? ) and means (How will we get it? ). Today people can express views the hearten the importance of our leaders without such drastic consequences but many do not. There is widespread fear that if people speak against government and war that they are unpatriotic or worse, terrorists. Freedom and justice are the most patriotic ideas there are and they are not attained bombing innocent civilians or having bigger, better weapons; they are attained by recognizing and speaking against the injustices of the world. Another example of dissent being used is in Chapter 8: Free Speech, on page 189 Zion shows the reader a false analogy made by Supreme Court Justice Oliver Wendell Holmes. In 191 7 The Espionage Act was written and months later a man named Charles Science was arrested, tried, and found guilty for violating the Espionage Act. Science had been handing out leaflet in Philadelphia denouncing the draft and the war. Science appealed his ca on the grounds that Congress shall make no law.. Holmes responded WI this statement: The most stringent protection of free speech would not protect a man in falsely shouting fire in a theatre and causing a panic The question in every case is whether the words used are used in such resistances and are of such a nature as to create a clear and present danger that they will bring about the substantive evils that Congress has a right to prevent. This statement was accurate; however, is shouting Fire! same as handing out leaflets to people on the street. Falsely shouting fire would cause panic in a theatre and is wrong. He was only trying to inform t naive public of the perils of war. Science was not intending to cause panic, was only trying to save lives. Science used nonviolent direct action, he did care about laws stopping him from making his message and when he did n troubl e he fought congress. In Chapter 6: Law and Justice, we hear more about the most active person in nonviolent direct action Dry. Martin Luther King Jar. Ho spoke not only about racial injustice but about the evils of war. During the time he was urge not to speak against the war because it may affect Johnnys program of domestic reform but he refused to be silenced. Somehow this madness muff cease. We must stop now. I speak as a child of God and brother to the suffering poor in Vietnam. I speak for those whose land is being laid waste, whose homes are being destroyed, whose culture is being subverted. I speak for the poor of America who are paying the double price of smashed hopes E home and death and corruption in Vietnam. I speak as a citizen of the world that stands aghast at the path we have taken. I speak as an American to the leaders of my own nation. The great initiative in this war is ours. The initiative to stop must be ours. (Passionate Declarations, 131). Kings profound statement is the ultimate example of direct action. He is not threatening anyone in his words and he is still making an effective plea to the American people. This message gave many people initiative to dissent to the war. Over half a million men resisted the draft; there were more protests than any the war, and many individual acts of disobedience. Passionate Declarations is filled with stories about amazing people doing amazing things to stand up for what they believe. After reading this book, I was inspired to use direct action towards what I believe. Im not going to go burn my draft papers or chain myself to a tree but will be more vocal in expressing my beliefs without the fear of other people judging me. Freedom and justice are never going to be attainable if we do not take action. Overall, he message Zion is trying to make with chapter 1 1 is that weapons and fear are not as powerful as our beliefs as a people.

The contribution of Corporate Social Responsibility (CSR) to Shell Nigeria’s Corporate Strategy The WritePass Journal

The contribution of Corporate Social Responsibility (CSR) to Shell Nigeria’s Corporate Strategy Introduction The contribution of Corporate Social Responsibility (CSR) to Shell Nigeria’s Corporate Strategy a; OPEC, 2011). The parent company, Shell Corporation, is one among major entities participating in the exploration, production, distribution and sale of oil and gas across the globe. The company manages multinational subsidiary petrochemical and energy companies operating in over 80 countries (OPEC, 2011). Exploration and extraction operations of crude oil and gas in Nigeria form an essential component of Shell Corporations upstream supply chain. Its downstream supply chain is engaged in refinery and distribution of oil and gas, as well as trade and shipping of crude worldwide. The company is also involved in the manufacture and marketing of a range of products including petrochemicals for its industrial customers. Its daily volume of production entails 3.2 million barrels of oil and gas (at 48% this output) delivering refined fuel oil to consumers through its 43,000 Shell service stations across the globe (OPEC, 2011). Nigeria is important for Shell accounting for about a quarter of its worldwide production with an estimated contributed share in profit averaging $1.8 billion annually. This represents 10.4% of upstream operational profits and 7.3% of total profit (Shell, 2011). Given its importance to the Group’s upstream operations, any challenge on this front adversely affects global operations of the multinational corporation (Royal Dutch Shell, 2012a; Emesh, 2009). Several challenges beset multinational oil corporations operating particularly in developing countries as explored below. The dilemma of oil companies operating in developing countries Significant oil and gas reserves are found in developing countries of Africa (OPEC, 2011). These countries often lack the resource capability both in terms of financial capacity and infrastructure to conduct exploration and extraction operations of oil and gas. This explains the presence of multinational oil corporations such as Shell in these countries and in regions such as the Niger Delta of Nigeria which holds significant oil reserves deemed to be among the largest in Africa (Wheeler et al., 2010). Operations of oil multinationals in these developing countries are however fraught with huge challenges brought about by the political and social situations which characterise them. Due to their structural and institutional weaknesses, these countries are often prone to recurring conflict and political instability which portends violence and risks to investments (Wheeler et al., 2010; Idemudia, 2009). However, with much to gain from the exploration and exploitation of oil and in spite of the risks and attendant challenges, the multinational oil corporations value the acquisition of market share (Emesh, 2009). It is also noteworthy that profits accrued from the exploitation of the oil resource have historically been misappropriated, benefitting a few influential people in the local and national governments while the host communities and citizenry at large suffer poverty. With an abundance of oil revenue, a corrupt leadership forego accountability to constituents and undermine political and economic institutions while focus on oil wealth stifles diversification of the economy into other essential sectors (Emesh, 2009; Olowu, 2011). This scenario has often exacerbated the political and social situation, increasing the occurrences of conflicts and violence and threatening sustainability of business and integrity of the supply chain (Wheeler et al., 2010). The discontent of host communities and stakeholders at the local level has led to acts of vandalism, sabotage and disruption, as well as outright insurgency which not only threaten operations but also impact the prices of crude oil internationally fomenting unnecessary fluctuations (Olowu, 2011). This alongside the adverse environmental impact of the extractive industry in general and impacts on human rights has often injured the reputations particularly of oil multinationals such as Shell Nigeria. They have promoted the perception that such companies are merely profit-oriented and care less about the impacts of their operations (Idemudia, 2009). Such global concern over these issues has hitherto led to threats of and actual boycotts of Shell products, costly lawsuits and liabilities, and in addition to attendant inefficiencies and security of assets and resources, these challenges have not only impacted Shell’s local operations in Nigeria but have hindered the potential of the entire multinational corporation internationally (Olowu, 2011). Companies such as Shell, therefore, continually need to evaluate political and social risks assessing probable effects on their business and the investment climate, as well as the impact on their profit forecasts and sustenance of operations (Olowu, 2011; Fombrun, 2001). This scenario has illustrated that adverse effects can have dire consequences for the entire business beyond its local operational environment. In order to sustain their business and even achieve growth and expansion, it is imperative for companies to enhance their relations with society ensuring that they are strong and mutually beneficial. Beyond the profit objective, multinational corporations are increasingly demanded of to engage with host countries and communities and CSR has become one of the strategies towards this endeavour (Haigh and Jones, 2006). In response to this demand and in the attempt to shore up its reputation and to build goodwill with local communities, Shell has developed policies and programs aimed at taking on social responsibilities. These programs focus on poverty alleviation, dealing with challenging human rights issues, and the pursuit of sustainable development, seeking to lower the negative environmental impact of their activities (Shell, 2011; Olowu, 2011). These practices are generally referred to as corporate social responsibility (CSR). They can serve as a channel through which to nurture relations with society and stakeholders in general so as to address this dilemma that companies face in the modern business environment (Driver, 2006; Haigh and Jones, 2006). In this regard, it can act dually as an avenue for ethical and social responsibility and as well a worthwhile and essential business strategy. However, finding the right approach and the right initiatives to undertake is challenging for many entities as expectations are very high and diverse particularly in developing countries. As well, in most cases, the development initiatives anticipated should ideally be the prerogative and duty of respective governments and authorities. Their pursuit enables these public agencies to disregard their duties and to forgo accountability to their constituents, a free hand to misappropriate what would otherwise be spent on development (Frynas, 2005). Corporate Social Responsibility (CSR) CSR is a fast-growing concept in which organizations consider the interests of various stakeholders including society, the environment, and the community in which they are established, taking responsibility for the impact of their activities. It refers to activities that a corporate entity engages with and which are aimed at investment into better and stronger relations with stakeholders and society (Bourne, 2009). This commitment is a voluntary endeavour to improve quality of life for local communities and society at large and extends beyond the basic requirement to comply with regulations or legislation (Boyd et al., 2007). Though historically consider to encompass corporate philanthropy, the concept can now be summarized conveniently in the phrase†¦Ã¢â‚¬Å"doing well by doing good† which is inherent in a firm’s accountability and which underlies its social contract with society (Driver, 2006). It encompasses concepts such as corporate accountability, corporate citizenship, business ethics, sustainability, as well as social responsibility in investment and community involvement (Fombrun, 2001). CSR is thus not the sole responsibility of the multinational corporation, but it also concerns the host communities and countries that can engage in planning and in the push for implementation of activities. This, however, gives the pursuit an arbitrariness that makes assessment of success and effectiveness quite challenging. Success in business and sustainability of operations significantly depends on an organization’s capacity to maximize benefits accrued from its resources such as financial and human resources, physical assets, as well as intangible resources such as goodwill from stakeholders and society in general (Werbach, 2009). This is quite evident in challenges that have beset Shell’s supply chain stemming from challenges in its operations in the Niger Delta. Even with the right mix of financial and human resources, as well as an adequate asset base, the lack of goodwill leading to discontent locally and globally and acts of reprisals has in the past led to disruption of operations and loss of potential which have had widespread implications, including adverse effects on profitability, the company’s reputation, as well as the prices of crude oil in the international market. In this regard CSR has become a significant component of Shell Nigeria’s corporate strategy in its quest for mutually beneficial engagement with stakeholders and achievement of requisite goodwill (Shell, 2011; Olowu, 2011). Through the proactive pursuit of CSR, companies can take responsibility for the impact of their operations and welfare of host societies, as well as stakeholders in general. Though perceived as an outlay that is difficult to recoup, there is evidence of potential reciprocal effect and business sense in CSR investments attributed to its creation of value and enhancement of stakeholder relations (Driver, 2006;). Due to the general lack of infrastructure and development projects provided by respective governments in developing countries, the need for CSR covering broader roles such as poverty alleviation, good governance and development is prominent. Multinational corporations such as Shell come under heightened expectations to fill in the gap providing the requisite development (Wheeler et al., 2010). The initiatives undertaken by Shell towards CSR are explored. Critics bemoan this reality in the expectation for intervention by such business entities on matters outside their primary objective. They posit that this demand influences and affects the conduct of business in the increasingly competitive business environment posing a challenge to strategists in the choice between meeting business objectives and shareholder satisfaction on the one hand, and the needs of the wider stakeholder base on the other (Frynas, 2005). This further complicates the development of corporate strategy given the need to focus on a number of extraneous issues often with private entities arrogating themselves duties that ought to be performed by the state or local councils. Such realities hinder the effectiveness of CSR initiatives and particularly its contribution to the company’s corporate strategy. CSR initiatives of Shell Nigeria are thus evaluated in the following section. CSR initiatives of Shell Nigeria Numerous activities that Shell engages in its pursuit of social responsibility are herein evaluated to assess their effectiveness and therefore contribution to the company’s corporate strategy. Initiatives undertaken by Shell Nigeria in its CSR pursuit cover external aspects such as environmental protection, community relations and human rights, as well as internal aspects such as principles and codes of practice, product stewardship, stakeholder and employee rights, and transparency (Shell, 2011; Idemudia, 2009). Shell Nigeria and the entire Group takes up an active leadership role in the development of codes of conduct and practice governing workplaces and their engagement with facets of society (Royal Dutch Shell, 2012b; UN, 2011). The company has also supported development through programs in education, health, construction, commerce, agriculture, transport, etc. benefiting local communities (Olowu, 2011). Additionally, the company alongside others in the oil industry command leadership in programs promoting CSR internationally on various fronts. This has been facilitated by Shell’s new and sophisticated approach they refer to as Community Development (CD), offering a paradigm shift to environmental responsibility, social welfare, human rights, and political responsibility, among other issues of CSR (UN, 2011). This approach entails greater stakeholder engagement bringing together many entities including NGOs, state and local governments, and community leaders in identifying and implementing projects, ensuring increased local ownership, transparency and accountability (Idemudia, 2009). Numerous projects have been successfully undertaken through this approach over the years especially benefiting areas in which the company’s infrastructure is located and/or flow lines traverse (Royal Dutch Shell, 2012b; Olowu, 2011). Goodwill generated from such â€Å"investments† in CSR has ensured integrity of assets that were hitherto under threat which is fundamental to successful operations. Various initiatives undertaken such as the community Health Insurance Schemes, enterprise development schemes, water supply and electricity supply, among others offer worthwhile lessons through which the success can be replicated elsewhere (UN, 2011; Idemudia, 2009). This way, the company has benefited from consistency afforded enabling it to meet tight lead times and to better align supply and demand through greater efficiency. Success of development initiatives has enhanced well-being and economic empowerment of communities thereby reducing dependency for regional development which had burdened the company (Shell, 2011; Emesh, 2009). Additionally, initiatives undertaken in partnership with numerous players aimed at enhancement of the conservation of biodiversity through the minimization of the negative impact of activities have enabled reduction of environmental impact due to gas flaring and oil spills. The diversification into the production of natural gas has benefited the company significantly, becoming a worthwhile revenue stream (Royal Dutch Shell, 2012a). Through a variety of indices assessing social and environmental performance of entities such as Shell, its CSR initiatives have earned it recognition globally as a leader in responsibility and a CSR champion. These indices include: the United Nations Global Compact (UNGC)- 2010; Dow Jones Sustainability Index (DSI)- 2010; Carbon Disclosure Leadership Index 2011, the FTSE4Good and Goldman Sachs Sustain ESG (environmental, social and governance) – 2010 (UN, 2011; Shell, 2011; OPEC, 2011). Good ratings attained in these indices are evidence of the impact that it has had in its CSR pursuit. The recognition has been beneficial in shoring the company’s reputation across the globe enhancing its corporate value and standing of its brand. However, oil multinationals (including Shell) remain at variance with local communities regarding the success and effectiveness of these CSR initiatives with the latter still not content. This represents the major challenge with CSR pursuits, particularly in cases such as this where expectations are quite high (Frynas, 2005). The actual success of Shell Nigeria’s CSR is evaluated to assess its contribution to its corporate strategy and bottom line. Contribution of CSR to Shell Nigeria’s corporate strategy Corporate strategy focuses on the organization’s overall scope with an aim to sustain growth and to achieve strategic positioning. The maximization of profits and minimization of costs is a primary goal of any business venture. This not only necessitates continuous improvement along the supply chain towards the enhancement of efficiency and effectiveness, but also entails an important aspect in the modern competitive business environment, value creation (Werbach, 2009; Kazem and Richard, 2008). Competitive advantage entails the capability a business to provide superior products, services, or value differentiating itself from its competitors. Price/cost advantage, delivery, quality and flexibility are identified as among the components of the value advantage which enhance competitive capability. To be able to sustain its competitive advantage, a company or organization has to exploit such available capabilities which are as important as resources such as physical assets, financial resources, and human resources (Werbach, 2009). However, the oil industry is characterized by minimal capacity for value addition to products and services, exploitation of a price advantage, or physical resource capabilities (Wheeler et al., 2010). It is therefore crucial for players in the industry to focus on value advantage deriving from delivery efficiency, quality, flexibility, as well as intangible aspects such as corporate value and reputation. The pursuit of corporate value and goodwill through CSR is therefore crucial for an entity to achieve a sustainable competitive advantage given the intense competition and capabilities (Fombrun, 2001). According to Sachs et al., (2009) and Driver (2006), the CSR idea†¦ â€Å"ties up with the drive for sustainability which is to develop solutions for business in such a way as to meet the requirements of the current generation without compromising the ability to provide the needs of future generations in bounty and diversity.† This is the basis for Shell’s renewed and revitalised pursuit of CSR which has enabled it to assume leadership on the responsibility front, a model for corporate citizenship (Shell, 2011). Despite the challenge in defining actual benefit and achievement in sustainability initiatives, the pursuit of CSR has granted Shell an important edge in the intensely competitive environment, enhancing the company’s corporate value. Corporations invest in CSR motivated by the view on business ethics which holds that shareholders and stakeholders desire a financially stable and responsible corporation adhering to values of ethical conduct and environmental sustainability. A worthwhile brand image and reputation is thus central to strategy (Sachs et al., 2009; Haigh and Jones, 2006). This is the primary thesis of this report and which is shown to guide Shell Nigeria’s corporate strategy, as well as that of the entire Group. Benefiting from reduced civil tension, as well as oil theft and sabotage, Shell has, in recent years, managed to increase production from new ventures such as offshore deep water explorations, as well as enhanced supply chain efficiencies – achieving increases in production averaging 31% year-on-year. Diversification into Liquid Natural Gas (LNG) production has enabled the company to enhance its revenue and to develop a new market (both locally and for export). Its economic potential has generated incentive and economic impetus to enhance the capture of natural gas associated with oil reserves that would otherwise be flared (Royal Dutch Shell, 2012a; Shell, 2011; Fombrun, 2001). Reduced flaring and the clean-up of oil spills have had a positive effect on the company’s risk and reputation management warding off potential lawsuits and liabilities (Shell, 2011; Dyer and Chu, 2003). Turbulence in the political and social environment and the resultant uncertainty in supply and demand, as well as concerns over bad repute negatively affect investor decisions and therefore share prices (Fombrun, 2008). A firm that wishes to attain success in the modern business environment must keenly assess these fundamental flags and their associated costs , as well as future value or potential which significantly influence investor decisions. These may influence the company’s access to capital and to new markets and cannot be ignored (Sachs et al., 2009; Dyer and Chu, 2003). These factors can be adequately addressed through the focus on enhancement of goodwill and efficiency through social responsibility pursuits. It is evident therefore that Shell’s CSR initiatives have contributed significantly to the company’s corporate strategy enhancing its capacity to sustain its operations and to thrive despite the challenges in the extractive sector and developing countries hosting it. Conclusion Through the pursuit of CSR, oil multinationals such as Shell can gain valuable goodwill enabling success of their operations and the enhancement of their overall image and perception as a corporate citizen both locally and internationally. Shell Nigeria’s proactive community development initiatives have in the most part significantly reduced conflict resultant from discontent and grievance of local communities and global concern impacting the corporate reputation of the entire Group internationally. Reductions in civil tensions, oil theft and sabotage have enabled increased production and new ventures and as well, the venture into the capture of associated natural gas has seen the company diversify into new revenue streams and markets of LNG. These benefits as well as the bolstering investor confidence due to this revitalization are evidence of the contribution of CSR to Shell Nigeria’s corporate strategy. Bibliography Bourne, L., 2009. Stakeholder Relationship Management. CA, USA: Gower.. Boyd, E., Spekman, R., Kamauff, J., and Werhane, P., 2007. â€Å"Corporate Social Responsibility in Global Supply Chains: A Procedural Justice Perspective.† In: Long Range Planning, Vol. 40, No. 3, pp. 341-356. Driver, M., 2006. ‘Beyond the Stalemate of Economics versus Ethics: Corporate Social Responsibility and the Discourse of the Organizational Self.’ Journal of Business Ethics, 66: 337–56. Dyer, J., and Chu, W., 2003. â€Å"The role of trustworthiness in reducing transaction costs and improving performance: Empirical evidence from the United States, Japan and Korea.† Organization Science 14 (1), 57–68. Emesh, E., 2009. â€Å"Social Responsibility in Practice in the Oil Producing Niger Delta: Assessing Corporations and Government’s Actions.† Journal of Sustainable Development in Africa, Vol. 11, No.2, pp.113-125. Fombrun, J., 2008. Corporate reputations as economic asset. In: Freeman, E., Harrison, J. S., (Eds.). The Blackwell handbook of strategic management. Blackwell Publishers, Oxford, 289–312. Frynas, J., 2005. â€Å"The False Developmental Promise of Corporate Social Responsibility: Evidence from Multinational Oil Companies.† International Affairs, Vol. 81, No. 3, pp. 581-598. Haigh, M., and Jones, M., 2006. â€Å"The Drivers of Corporate Social Responsibility: A Critical Review.† The Business Review, Cambridge, 5(2): 245–51. Idemudia, U., 2009. â€Å"Oil Extraction and Poverty Reduction in the Niger Delta: A Critical Examination of Partnership Initiatives.† Journal of Business Ethics: Supplement 90: 91. ABI/INFORM Global, ProQuest. Kazem, C., and Richard, L., 2008. Sustainable competitive advantage: towards a dynamic resource-based strategy. East London Business School, University of East London, UK Olowu, D., 2011. â€Å"From Defiance to Engagement: An Evaluation of Shell’s Approach to Conflict Resolution in the Niger Delta.† African Journal of Conflict Resolution, Vol. 10, Nr.3, pp. 75-100. OPEC, 2011. Nigeria facts and figures Viewed on 8/7/2014 from: opec.org/opec_web/en/about_us/167.htm Royal Dutch Shell Public Limited Company, 2012a. Shell Petroleum Development and Exploration Company report: â€Å"Environmental Performance: Oil Spills. Shell Nigeria, Shell Petroleum Development Company.† Viewed on 3/7/2014 from www.shellreport.com Royal Dutch Shell Public Limited Company, 2012b. Shell Petroleum Development Company, Shell Nigeria report: â€Å"Improving Lives in the Niger Delta.† Viewed on 3/7/2014 from www.shellnigeria.com Sachs, S., E. Ruhli and I., Kern, 2009. Sustainable Success with Stakeholders. Palgrave Macmillan Shell, 2011. â€Å"Sustainability Report: Royal Dutch Shell Sustainability Report 2010.† In: Royal Dutch Shell Sustainability Report, pp. 1-37. Viewed on 6/7/2013 from: http://sustainabilityreport.shell.com/2010/servicepages/previous.html UN, 2011. Supply chain sustainability. United Nations global compact. Viewed from: unglobalcompact.org/Issues/supply_chain/index.html Werbach, A., 2009. Strategy for sustainability: a business manifesto. Adam Werbach. Boston, Massachusetts: Harvard Business Press Wheeler, D., H., Fabig, and R., Boele, 2010. â€Å"Paradoxes and Dilemmas for Stakeholder Responsive Firms in the Extractive Sector: Lessons from the Case of Shell and the Ogoni.† In: Journal of Business Ethics, Vol. 39, pp. 297-318.

Lieutenant Nun Essay Example | Topics and Well Written Essays - 500 words

Lieutenant Nun - Essay Example Her change of look was so profound that neither her father, nor her mother and uncle could recognize her. After turning into a man, Catalina did a lot of jobs, and other activities that no woman could be expected to do in her time. The second turning point in Catalina’s life came when she had signed up for selection in army and was hired as her own brother’s soldier. Like her mother, father and uncle, her brother also did not realize it was his sister serving him as a soldier. Particularly, Catalina regretted having killed her own brother as a result of her commitment to her friend who had asked her to kill his second. She personally viewed the funeral of her brother and seeked refuge in the church for months after that. As a soldier, she happened to learn fighting skills which she would later use in the bloody battle. The third turning point in the life of Catalina came when she was declared not only a woman, but essentially a virgin woman as a result of the medical ex amination she goes through to clarify the doubts of the bishop when she made the confession of being a woman to the bishop. The bishop promised to assist her. Therefore, she was sent to the nunnery, and the church, meanwhile, studied her history to know if she had ever considered becoming a nun in the future. Two years after that, when it was found out that she had never taken vows, Catalina was granted the status of a Spanish celebrity.

Central Banks & other International banks Assignment

Central Banks & other International banks - Assignment Example In some cases, the central government may place restrictions con how to hold and use foreign exchange or how to dispose local currency. 2. What did the central banks do to stabilize the financial systems in 2007–2009? In order to stop the financial crisis, central banks across the world followed plans that were almost parallel inaction. The eurozone, US and Britain central banks cut interest rates almost to zero, injected capital in the markets (through massive stimulus programs) and guaranteed bank lending (Allen, 2008). These actions were taken in a bid to restore investor confidence and liquidity. In some nations, the central governments have endeavored to coordinate debt issuance with an aim of avoiding the destabilization of their financial markets. 3. In an effort to stabilize the financial system how much money, in U.S. dollar equivalent and as a percentage of the country's GDP, did the European Central Bank, Bank of England, Bank of China, and the Federal Reserve put i nto the economy in 2008 and 2009? The Central banks responses to the financial crisis were quick and dramatic. The US pumped close to one trillion USD in total in 2008 and 2009 in two massive stimulus packages. In the final quarter of 2008, the European Central Bank and the US Federal Reserve purchased about 2.5 trillion USD worth of government debt and private assets from banks (Spiegel, 2008). Today, the US has spent about 11 trillion USD to the financial crisis about 9.8 trillion USD going to troubled US corporate entities including JPMorgan Chase and General Motors. About 1.2 trillion USD has been set for use in the countries stimulus programs. Of the 9.8 trillion USD, about 6.4 trillion USD is set to be used in Federal Reserve Rescue Efforts. The Bank of China in 2008pledged to release 586 billion USD in the domestic market to stimulate the country’s economy (Morrison, 2009). 4. How well did each country's efforts work at stabilizing the economy? The central banks of mos t countries have worked in coordination with their counterparts elsewhere cutting short term interest rates. Even the People's Bank of China joined the major economies in cutting interest rates. The central bank interventions worked positively for all the countries in mitigating the effects of the financial crisis. In fact, the effects of the crisis have continued to dwindle over time. 5. What appears to be the major constraint that the central banks used to determine the limits of the monetary injections into the economy? The US assumed a most proactive role in tackling the financial crisis. The Federal Reserve has mainly applied interest rate changes to stop the financial crisis from having greater effects on the economy – more than any other central bank. The bank’s interest rate has been reduced from about 5.3% in September, 2007 to about 1.4% over the last couple of months (Senanayake, 2009). 6. Did the United States use the same or different criteria? Through thi s action, the bank has managed to shelve away worries related to high inflation rates. The US applied interest rate reduction, stimulus packages and a relaxed monetary policy like the other central banks albeit more proactively. By lowering interest rates, the supply of money in the market got to increase thereby reducing inflation and panic in the market. 7. To what extent to do you agree/disagree with the actions of

The Information Technology skills Essay Example for Free

The Information Technology skills Essay It is clear to me how University of Phoenix’ convenient and efficient educational program designed for working professionals, has helped me grow. I see tremendous change and development in myself. I have not only matured personally and professionally, but have also grown to believe in orderly goals and motives with respect to my existence. My life has been organized and I see greater potential for my progress. The outlook of the entire university, dedicated to the success of its students, may be viewed now in who I am as compared to who I was before joining the BS of Information Technology program. When I started the program at University of Phoenix, my professional attitude was unseasoned. I was an unsure person, someone who had not matured. My humble and uninformed self did not allow me to think much of my career. I had briefly dreamt of becoming a graphic designer. However, I had wrongly imagined that I would not go too far. My mind was set at thinking that I might have to do with unsuitable jobs. What else are high school graduates supposed to do? I did not aspire to be great or hold lofty goals for my career. My goals were in fact, not many. I only desired to keep myself employed. My knowledge base was limited. I was raw. To that end, I am absolutely honest to claim that I knew little or nothing about the things I have learned at the University of Phoenix. Knowledge has been added on to my life at a rapid pace with this great program. Before this, life could seem sluggish to me as an unaware person. At work, I did not consider myself a professional. I did not even present myself as such. I was simply working; holding a job because one has to do that in this uncertain world. I would describe my writing skills before the program as ranging from bad to good. This is one of the areas where I have experienced drastic change. Besides, I now have extremely different views about myself and my career. My verbal communication skills before the program may also be described as varying from bad to good. With less confidence, the way I presented myself was obviously poor. I did not grasp at the time that professionally, one must appear assertive and proficient to get the work done. At present, I like to view myself as a thorough professional. My critical thinking skills before the program were good. All the same, my â€Å"Critical Thinking† (PHL/251) general education course worked wonders to polish my skills. It was for this reason that I had chosen the course. I believe that my decision was absolutely correct. After all, critical thinking is crucial in both personal and professional life. My interpersonal skills were always excellent, according to my opinion. This is because I believe in people, trust them, and wish to know more about them in order to be of assistance to them. I chose the general education course called â€Å"U. S. History to 1865† (HIS/110) because I was deeply interested in understanding the mechanics of human relationships, as well as the causes and effects of human decisions. Learning about U. S. history was essential, seeing that the people I share my space with do also share the same history. Hence, I believed unconsciously that I would be able to improve myself in my relations with others if I studied human history. Once again, my decision to opt for this general education course was correct, seeing that I now deal even more effectively in my personal and professional relationships. The most important core courses with respect to my employment were â€Å"Critical Thinking: Strategies in Decision Making† (MGT/350) and â€Å"Project Planning and Implementation† (CMGT/410). I opted for these courses because I believe that professionals who know the functions of management are always more successful than the rest. Furthermore, these courses helped me to assimilate my ideas about team projects as well as leadership. I further believe that all professionals must be armed with knowledge of management, even if this knowledge is specialized in terms of Information Technology. What is more, decision makers, project planners and implementers must always bear in mind the people connected with the decisions and projects. Indeed, this idea connected with my love for people and interest in human relations. Moreover, I now connect better with the people at my workplace, and truly understand more about the mechanics of decision making and project planning as well as implementation. One of the terminal objectives of my program was, of course, for me to mature into a successful individual in my professional life. Even at my current organization – General Mills, where I presently work as a Network Engineer – development and innovation are priorities as well as major targets. Hence, both the University of Phoenix and General Mills have contributed to my current upsurge or growth. But the job without the education at University of Phoenix would definitely not be as good as it is at present. At this time, however, my job is a huge part of who I am and who I want to be. The program at University of Phoenix has really been a great source of inspiration for me. Employment may have helped me go on living. But the education here has helped me to live life fully, to enjoy my work and to be proper in all respects. It has shown me the way to live life in a way that is better, not just to live as I may have heard others living. Life does not just drag on anymore. It is full of enthusiasm and anticipation for a bright present and future. I am applying the tools that I have learned through the University of Phoenix, and there is hope to use them in better ways to achieve higher goals. I am eager to learn even more of that which would help me along. Learning should be a life-long process so that one’s intellectual powers do not rust. Before the program, it was as though I, as a resource, was underutilized. Now I feel fully functional. Just as General Mills thrives on research and development, I see myself flourishing with an increase in my knowledge base and the utilization of my mental resources to their fullest capacity. The Information Technology skills learned by me through the program at University of Phoenix are incomparable to anything I have ever been taught. I feel more grown-up now because of what this program has done for me. I have been shown much of my potential. It seems that I have learned a lot and there is excitement in me now to know more. Life does not seem like dreary employment anymore. I enjoy my personal and professional life much more now that I have been a part of the University of Phoenix. As far as my ethical outlook is concerned, I see no change between the past and the present, and I do not see it changing either. My values have not changed. My self-esteem has increased because the way I see myself has changed. Whereas I may have been covered by darkness in my mind, I now see myself in the light, capable of doing much, maintaining goals, and wanting to do all that is good. I certainly have become advanced in my professional attitude. With regards to my personal attitude, I even walk more confidently now and that has a serious affect upon my professionalism too. At work, I have to be responsible, knowing and showing that I can make it right and to the top. It is as though I have been cultivated and I know what I am doing now. My career views have changed so much that whereas I had seen myself doing basic jobs and not going too far in my professional life before I joined University of Phoenix, now I feel confident and able to be the leader at work. I feel that the axiom ‘the sky is the limit’ is working in my life now. Earlier I may have thought that it is impossible to have such an attitude unless one’s performance was really marvelous. But this program has been about trying to do one’s best and fulfilling one’s potential. It has made me open my eyes and view the world out there full of possibilities for a bright human being wanting to do more and wanting to do what is excellent. I feel capable of reaching the top of my company now. Furthermore, now that I have had a glimpse of my highest potential, I also feel self-assured and competent enough to be at the top of another organization, if not my present company. A part of this newly found confidence in me is a result of observation. Even so, the knowledge that has been imparted to me with the wonderful Information Technology program takes most of the credit for my motivation today. Resonant with my new goals is the fact that my knowledge base has grown impressively. I now know not only that which is taught at undergraduate level in my field, but I am also seen by others as a better professional. My professional sense is increasing, signaling that I must continue trying to do better. I do not see the way down now. What is more, I am now able to hold professional presentations and meetings with high level professionals at General Mills. I am also more interested in my work at present. Over the next five years, my professional and personal attitudes may become more refined. I hope to become more mature and confident. I now understand how learning more can make one grow. I do not only want to continue learning, but I also want to continue growing until I can become a self-actualized individual. I wish to develop my ability to move to higher levels in my career through greater productivity. My goal is to be my best and also to be the very best in others’ opinion. I would like to attend a graduate program. I have so greatly and positively been influenced by the undergraduate program at University of Phoenix that I hunger for more of education. I understand to an extent how much it can do for me. Before the program, I did not think much of education besides the fact that it is necessary to a certain level. But because I have been working and noticing the changes that education brings into my professional life, I long to gather more knowledge. Education is directly related to success. I love the changes higher education has brought to my life and I welcome this fantastic transformation on an ongoing basis. Thinking is the basis of our actions, and if the undergraduate program at University of Phoenix could do so much for my life and attitudes, I cannot yet imagine where a graduate program might put me with regards to my professional position. I need more guidance for the future though, to be specific about what I would really do. I see the possibilities laid open before me, but which way do I really go? Many ways seem important. Perhaps I would settle for an MBA. In any case, I would have liked the University of Phoenix to better assist me in getting to the right place at the right time in future. To get a clearer sense of my educational goal at present, I may have to go for education counseling. I would like to recommend at this point that the University of Phoenix should incorporate an extensive education counseling program for its students. Over the next five years, I wish to grow to have more business sense. This may happen through higher education and additional years of experience at work. In point of fact, I would like to improve in all spheres of my life, and in the areas of my being that are good now, I would like to keep a balance whereby I do not drift to the low side of things. With my new outlook, I feel ready to take responsibility to add value to the world, even if it is solely by way of doing my job well and showing others that honesty, hard work and learning can go a long way. I feel worthwhile now and am prepared to continue struggling through life with zeal. When life gets slothful, I know what I must do to change that and to be promoted learn. I must continue learning.