Thursday, October 31, 2019

Brighton Seaside Essay Example | Topics and Well Written Essays - 250 words

Brighton Seaside - Essay Example In 1313, Edward II granted Brighthelmston a charter that allowed market operations each Thursday at Brighton seaside. The market operations developed Brighton into a tourist site and visited by many vacationers. In the 21st century, Brighton and Hove have grown into a world tourist attraction. The new sea front has turned into an attractive and trendy magnet for visitors. Additionally, the newly created clubs, bars and restaurants has changed the area into fashionable beachfront in Britain. Today, it is highly regarded by theatregoers and artists as the main center for much famous west ends London productions. According to statistics, Brighton pier now at 1722 ft. in length with grade two-listed building, welcomes over three million visitors annually (Easdown 2009, p.12). Besides, Brighton seaside has been included among the top ten UK destinations for overseas visitors and top five most favorite cities. Brighton seaside is the future attraction site where one can find culture, good shopping, and enough food with the selection of specialty hotels. It is estimated to host over eight million visitors annually incorporating conference delegates and leisure visitors (Benson, 2015, p.1). According to Office for National Statistics (2014), Brighton is the most popular destination in the UK that is preferred by foreign tourists. In 2013, it hosted nearly 400, 000 foreign visitors. Benson, R 2015, Coastlines: The Story of Our Shore by Patrick Barkham, Book Review, The Independent. Retrieved On 30th March, 2015 from http://www.independent.co.uk/arts-entertainment/books/reviews/coastlines-the-story-of-our-shore-by-patrick-barkham-book-review-10120105.html Farmer, B 2015, Pay Less for Parking in the Rain Plan for Seaside Town, The Telegraph, Retrieved On March 30, 2015

Tuesday, October 29, 2019

The importance of recruitment and selection of sales people Essay

The importance of recruitment and selection of sales people - Essay Example Effective recruitment involves the identification of certain qualities which spell success. Certain people are imbued with that quality of good salesmanship and have the ability to out forth that quality of sincerity and integrity that certain people are imbued with that quality of good salesmanship and have the ability to out forth that quality of sincerity and integrity that encourages customers to purchase a product. The focus of good recruitment is in matching the capabilities, talents and skills of a particular candidate with the demands and requirements for the job. There must be transparency and uniformity in the recruitment process, in order to identify the most meritorious candidates available for a sales job. The manner in which the recruitment is carried out will affect the kind of candidates who get selected finally. During the process of recruitment, the selectors need to match up the best candidate for the job by an evaluation of the needs of the job and the qualities o f the candidate, in order to determine which candidate is best likely to fulfill the needs of the job.

Sunday, October 27, 2019

Impact of ICT on recruitment and selection

Impact of ICT on recruitment and selection The aim of this report is to identify traditional methods of recruitment and how they have been revolutionized by the emergence of the Internet. In the past few years, the Internet has dramatically changed the face of HR recruitment and the ways organizations think about the recruiting function. Presently, Information Communication Technologies (ICT), which provide enabling technologies to assist Human Resources (Hers) professionals in the delivery of services, have also simultaneously increased the expectations that employees, managers, customers, and regulators have for the HR functions. The feedback I received from essay one is that Internet recruitment is viewed as an important additional tool and traditional methods are continued to be used in recruiting process. The pros of e-recruitment were to identify and reach large of qualified candidates advertise with dispersed location, provide cost effective method, save the recruiting process time and increase image of organizations. The cons of e-recruitment were the discrimination issue forward to Internet non-user, difficult to recruit executive-level talents on the Internet, the digital divide gap between computer literate and illiterate and the risk of overload of resumes. Analysis of Viva process: The viva process went very well and that was after I submitted my both essays to my supervisor. When it came to the Viva (oral defense), I really wanted to do it well. I spent quite more than enough time preparing the viva in the way that I have seen others make similar preparations. After having been informed that I will be required to defend my second essay, I decided that a good presentation comes from good planning and having at hand all the information that anyone might request, so I spent a long time in the preparation and I went feeling confident. As soon as I arrived at the conference where the presentation was taking place, I became nervous when I realized they were all waiting for me to speak and my nerves made me tremble. I did not know how to stop it. later on, I noticed that panelists seemed not to understand what I was saying despite all the preparations I had made. I suddenly calmed myself down, and in no minutes time I found myself flowing and everybody in the room un derstood I had gained momentum. I did it so well and this happened when I decided talking more slowly without trembling. It was interesting because everyone saw a change in my attitude after a very short time, and from there, I personally started seeing things differently. I regained sufficient confidence and was able to discuss matters in greater depth, thus, I felt more positive until the end of the Viva. The title of essay and aim: The title of essay two is Impact of ICT on recruitment and selection, and the main question is whether E-recruitment is an efficient tool for recruitment, and analyzing how beneficial e-recruitment is to organizations implementing it. The aim of this paper was to: Identify what e-recruitment methods are being used, and what are experiences of organizations trying to implement e-recruitment. Establish how organizations are evaluating the success of their e-recruitment initiatives, and establish the level of success being experienced This paper will help to establish a baseline on the use of e-recruitment by organizations, thereby enabling the on-going monitoring of progress and developments in this area. How essay 2 builds on essay 1 Essay two builds on essay one by analyzing the benefits of e-recruitment to organizations implementing it. However, e-recruitment is an efficient method of recruitment due to a number of reasons, most notably for cost reduction, increases the efficiency of the process, reduce time to hire and provide access to a larger and more diverse candidate pool. The most notable benefits reported by organizations having introduced e-recruitment are the cost savings, which have mainly been due to reduced advertising cost, a reduction in the resources required to process applications and a reduction in recruitment agency costs. Other benefits include more efficient management of communication with candidates and the ability to easily report on key performance metrics as a result of internet based tracking systems. It also shows that online recruitment is an improvement but cannot totally replace the traditional recruitment. Thus, increased use of e-recruitment methods and systems is helping to facilitate this trend by removing much of the routine administration involved in recruiting allowing HR to more easily monitor and track recruitment related activities. What I did well or could have done better: What I did well was planning and researching. I came up with really good research based on what I had planned. The communication and listening skills I acquired during the course made me to respond to questions very well and with full confidence. I gathered all the materials and data that I wanted, compiled it before coming up with the final report. Though during report writing, I was not sure whether I was going the right direction as far as the flow was concerned. I kept doing what I thought was right from my own perspective. What I learned: I have learned that planning and preparing for a Viva does not guarantee someone from trembling, but makes you have the information you need at hand. I also noticed how important it is to go back over things I have written about before presenting, for this could make me familiar with what I had written down. There were things I did not know at the time of questions and answer session, and I recognized there were some areas in which I went wrong. This made me realize that the panelists did not understand what I was saying. I have learned that I was not confident enough to present what I had prepared for. I need to think from the beginning about the process of giving a good Viva, as well as being sure about my reliance on what I have prepared/planned in order to have the best Viva. Conclusion: In order to prepare a good Viva or any presentation, good planning is required as well as doing enough research (have enough information at hand). On top of planning, being confident is another important aspect that can lead a person to present a good Viva. If I was confident enough, I am sure I would not have trembled and my oral defense would have been perfectly done from the time I entered the room. I, therefore, would like to encourage students to make sure they have full confidence in mind before attempting any presentation, which for my case was an oral defense (Viva).

Friday, October 25, 2019

Secularism v. Spirituality in the Second Nuns Tale Essay -- Second Nu

Secularism v. Spirituality in the Second Nun's Tale      Ã‚  Ã‚  Ã‚  Ã‚   In the General Prologue to the Canterbury Tales, Chaucer describes the men and women of the Church in extreme forms; most of these holy pilgrims, such as the Monk, the Friar, and Pardoner, are caricatures of objectionable parts of Catholic society.   At a time when the power-hungry Catholic Church used the misery of peasants in order to obtain wealth, it is no wonder that one of the greatest writers of the Middle Ages used his works to comment on the religious politics of the day.        Ã‚  Ã‚  Ã‚  Ã‚   Yet not all of Chaucer's religious characters are failures in spirituality. His description of the Second Nun is of a truly pious woman who spends her life in the service of others; she claims this service as the very reason she tells her tale:      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   And for to putte us fro swich ydelnesse,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   That cause is of so greet confusioun,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I have heer doon my feithful bisynesse,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   After the legende, in translacioun   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Right of thy glorious lyf and passioun   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Thou with thy gerland wrought with rose and lilie -   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Thee meene I, mayde and martir, Seint Cecilie.   (22-28)    She is using her time wisely and in the service of her God, avoiding the easy-to-commit sin of sloth as she journeys on her horse, and aiding her comrades in the avoidance of this sin.   In addition to saving the pilgrimage from sloth, she enlightens and teaches those around her, much like her beloved Saint Cecilia.      However, while the character herself is fascinating and worthy of study alone, most intriguing is the choice of her tale.   What is Chaucer's purpose in having the character tell the tale ... ...owski, Eileen   S. "Chaucer's Second Nun's Tale and the Apocalyptic Imagination." The Chaucer Review. 36.2. 2001: 128-148. Project Muse. 2 Apr. 2002. Keyword: Second Nun. Martin, Fredrick. Increase and Multipy in the Speech Acts of Chaucer's Nun's Priest, Second Nun, and Canon's Yeoman. 30 Mar. 2002 <http://www.geocities.com/Athens/Delphi/9976/chaucer8.html>. Reames, Sherry L. "The Cecilia Legend as Chaucer Inherited It and Retold It: The Disappearance of an Augustinian Ideal." Speculum. 55.1. 1980: 38-57. JSTOR. 6 Apr. 2002. Keyword: Second Nun. Taise, Brother Anthony of. Chaucer and Religion. Ewha University, Seoul. 30 Mar. 2002 <http://www.sogang.ac.kr/~anthony/Religion.htm>. Weise, Judith A. "Chaucer's Tell-Tale Lexicon: Romancing Seinte Cecyle." Style. 31.3. 1997: 440-479. ProQuest. 02 Apr. 2002. Keyword: Second Nun.   

Thursday, October 24, 2019

Fi363 Final Study Guide

FI363 Final Examination Student Study Guide Final Examination 1. 05 This is a two-hour, closed book and closed notes test. Therefore, it cannot be a take-home test. Students are not allowed to use a computer during the test. Students are not allowed to bring extra â€Å"scratch† paper to the exam. They can use the back side of the test for scratch paper if needed. The examination contains twenty multiple choice questions valued at 5 points each (100 points total) and five essay questions valued at 40 points each (200 points total). The total value of the examination is 300 points.Multiple Choice Questions ask the students to relate key financial System concepts that they have learned: 1. The student should review these course concepts a. Interest rates and interest rate calculations b. Various types of financial markets c. Various types of financial institutions d. Direct and indirect finance e. Present value f. Supply and demand as applied to financial instruments; i. e. supp ly curve for bonds g. Term structure; i. e. relationship among interest rates on bonds with different maturities h. The Federal Reserve System; identify components i.Monetary Policy; concept behind raising or lower the money supply j. Monetary Policy Targeting k. Money markets; characteristics l. Capital markets ; compared to money market securities m. Mortgage Markets and how they differ from stock and bond markets n. Foreign exchange markets o. Securities and Exchange Commission; characteristics p. Currency exchange rates and the law of one price q. International finance r. Adverse selection s. Moral hazard and characteristics of loan management principles t. Too-Big-to-Fail Policy u. Conflict of interest and the concept behind consumer/business lending v.Bank Liabilities/Assets w. Dual Banking System. x. World Bank y. Financial system structure Essay questions ask the student to relate core learning concepts to financial system situations and to discuss or define financial system terms. Be certain that you completely understand the following terms. The student should review concepts that relate to the following and be prepared to write analyses that include: 1. Assess the structural characteristics of the American financial system, including both institutions and markets that lead to its efficiency and effectiveness. 2.Describe and evaluate the functions of financial markets. Provide an example of the functions of the Bond Market, the Stock Market, or the Mortgage market. 3. Discuss the role of central banks, such as the Federal Reserve in the United States, to provide economic growth and stability. 4. Differentiate between the roles of various financial institutions within the financial system. Provide a detailed example of one financial institution. 5. Describe and the regulatory system in the United States and evaluate its impact of regulations on financial institutions and markets.

Wednesday, October 23, 2019

Uefa & Football Governance

Jaime Andreu-Romeo – Head of European Sport Unit, European Commission Leonardo Nascimento de Araujo – AC Milan and FIFA World Cup Champion ‘94 John Barton – T. E. A. M. Marketing Genevieve Berti – Communications Manager of G-14 Marco Brunelli – Lega Calcio and our tutor Richard Bunn – TV and Media consultant Michele Centenaro – Senior Product Manager, Club Competitions, UEFA Jerome Champagne – Deputy Secretary General, FIFA Jean-Paul de la Fuente – Founding Director, Deureka Peter Gillieron – General Secretary, Association Suisse de Football Michel Guenaire – Head of Sport-Law Division, Gide, Loyrette et Nouel, Paris Rodolfo Hecht – President, Media Partners Group Jonathan Hill – Communications and Public Affairs Liaison to the European Union, UEFA GianniInfantino – General Counsel Commercial Legal Services, UEFA Thomas Kurth – General Manager of G-14 Antonio Marchesi â€⠀œ Senior Partner, Deloitte and Touche Sports, Italy Lars-Christer Olsson – Director of Professional Football and Marketing, UEFA Denis Oswald – IOC member and President of FISA (International Rowing Federation) Alex Phillips- Senior Product Manager, Professional Football, UEFA Arnaud Rouger-Conseil Juridique, LFP (Professional Football League – France) Freddy Rumo- President of Executive Board of Neuchatel Xamax FC and former UEFA Vice President Jefferson Slack- Director, Inter Active, FC Internazionale Milano Stefan Szymanski – Professor of Economics, The Business School, Imperial College London Alain Rumpf – Coordinator of the Professional Cycling Council, International Cycling Union (UCI) Additionally we would like to thank UEFA -Division of Services, especially Barbara Rodel, Division of Professional Football and Marketing, especially Marion Haap, Lucia Castelli at Atalanta Bergamasca Calcio, Ruth Beck-Perrenoud from the Olympic Museum for her help in research, our professors at DeMontfort University (Leicester, UK), SDA Bocconi (Milan, IT) Universite de Neuchatel, (Neuchatel, CH), the CIES and FIFA, sponsor of the International Master, especially Vincent Monnier. Finally we thank our families and friends for their patience, support and inspiration, especially during the last phase of this project. 5 PROLOGUEThe headlines of sport news sections have been filled with tension-riddled declarations from football club managers toward football’s organisers about too many matches, national team call-ups at key points in the season and concern over players victim of injuries during â€Å"useless international friendlies. † The response is sometimes swift, sometimes harsh, but always illustrative of the conflicts between the members of the so-called football family. We recognise that all families have conflicts, some tragic, others trivial, but we were struck by the intensity of this banter internally sewing a frown to football’s countenance while still outwardly presenting a naive smile. We began to analyse the relationships and gradually realised that there were some family members with serious concerns who were not addressing each other.We heard the uproar from major club figureheads when UEFA took the nth decision to change its prize event, the Champions League. We also felt the inescapable force of commercialised-globalisation when Brazilian international players flew half-way across the world to China for 90 minutes of football worth US$ 1 million. We shed a tear when Italian legend AC Fiorentina were dissolved and Angelo DiLivio, a FIFA World Cup finalist, voluntarily descended to the fourth and final professional division and set out to paint the second Florentine renaissance, this time named Florentia Viola. We love football and we have a great interest to see the beautiful game continue to flourish to the ends of the Earth.Thus when we saw these unresolved dissonances spreadin g through the game, we made the decision to throw ourselves into the melee and clarify who the actors were, what their interests were and how they were relating to each other. After surveying the field we chose to focus on the clubs and UEFA, and then more specifically on the group of clubs creating the most commotion, the G-14. Their name seemed to pop up everywhere from the headlines, to the European Commission but never from UEFA. We found the door, brushed aside the coats and stepped into the magic wardrobe of UEFA, G-14 and European Football. . . 6 INTRODUCTION I. Aim The final aim of this project is to propose some adjustments to the current governance model of European football in order to address the conflicts arising from the pressures of the modern sport.In order to do that we structured our research to answer the overriding question of â€Å"How do international sport governing bodies adapt and respond to the pressures of lobby groups? †, looking specifically to th e case of UEFA and G-14. With the overriding question in mind, we structured our project to answer the following questions: 1. What are the conflicting circumstances within the governance of European football that are bearing the rise of such lobby groups? 2. How efficiently are those conflicting circumstances being addressed by the pertinent actors? 3. What are the main risks to the sport that can arise from the process in which the conflicts are being managed, and how can those risks be mitigated? II. Paper Structure and Scope The tructure of this paper is sub-divided in five chapters: In the first chapter we present the field of play and provide some background information on the stage and scenario in which the main actions take place. We will demonstrate the current governance structure of European football, briefly touch on the peculiar dynamics of the football industry, present the major relevant stakeholders, their interests and inter-relationships and illustrate the complexi ty of the competition calendar of professional football in Europe. This information will be relevant for the complete understanding of the issues treated in the paper. The second chapter presents the major actors involved in the production of the spectacle of European football.Although we recognize that the media and the major sponsors are important enablers in the distribution and popularisation of European football and its influence over the shaping of the game has been growing along the years, we have chosen to focus the scope of our analysis on the clubs (and with them, the G-14), the national associations, the leagues and UEFA, as we believe those are still the most influential actors in the design of football as a product. After presenting the major actors, in the third chapter we analyse the convergences and divergences of interests among them, the main areas of conflict and the potential risks that such conflicts can impose to the future of European football. We then take a break at chapter four and look outside European football in the search for examples of conflict management at similar sporting contexts. Our objective with chapter four is to learn some lessons that could be applied in the process of defining our final recommendations for the present case.Finally, in chapter five we present a model with recommendations for adjustments to the current governance of European football, with the aim of minimizing the conflicts and tensions among the members of the Football Family. 7 Although UEFA has a broad range of activities touching on every discipline of association football in Europe, the scope of this paper is limited to elite professional men’s football, as this is currently the only form of the game that has achieved significant commercial potential. And it is not until significant flows of money begin to pour over a sport that the major conflicts among different stakeholders start to surface. III. Research Methods and constraints Our res earch was carried out during May and June 2003. It has been structured around a hypothesisdriven approach, a methodology commonly used by management consulting firms.The approach consists in five major steps as shown in Figure I: Figure I – The hypothesis-driven approach 1 2 3 4 5 Overriding question Issue tree Hypotheses Research Analyses & Conclusions 1. Overriding question The Overriding question is the ultimate question the project aims to answer. As mentioned before, we have defined it as: â€Å"How do international sports governing bodies adapt and respond to the pressures of lobby groups? † 2. Issue tree The second step consists in identifying the relevant issues that need to be addressed in order to answer the overriding question. The issue tree is a hierarchical structure of questions that will be answered during the project leading to the final answer to the overriding question.For this paper we have defined three main issues and a set of 24 sub-issues in two different levels as shown in Figure II. 3. Hypotheses Once the issue tree has been defined we have generated the hypotheses for the project. The hypotheses are tentative answers to the issues based on the authors’ intuition and background knowledge on the subject. They may be proved right or they may be discharged after the research and the analyses are conducted. The importance of generating a sound set of hypotheses is that it provides the group with a comprehensive overview of the project’s main messages at its very beginning. 4. Research In this step we have designed the analyses that needed to be conducted to prove or discharge our hypotheses.Based on that set of analyses, we defined the input data to be gathered and determined their potential sources. 8 Input data was collected through the following methods: †¢ Preliminary interviews with representatives of UEFA and G-14 to validate the soundness of the initial list of hypotheses. †¢ Interviews with re presentatives of sport governing bodies, football clubs, national associations, national leagues, governmental bodies, sports marketing companies, media companies, lawyers, economists, players and industry analysts to capture the different views on the subject and its potential developments. †¢ Review of official documents provided by G-14 and UEFA, besides books and papers from academics on matters concerning the scope of our project. Search and review of websites of official governing bodies, clubs, and specialized sport press for relevant news and archive materials. †¢ Final interviews with UEFA and G-14 to discuss and validate our preliminary findings. 5. Analyses and conclusions After finishing the process of data gathering we have conducted the analyses necessary to prove or discharge the hypotheses and have drawn our final conclusions. Research Constraints Although the hypothesis-driven approach adds focus and drive to the project, speeding up the problem solving pr ocess, this project was conducted along six weeks of full-time work and there is some limitation to what can be achieved in such a reduced time frame.Notwithstanding, we have been fortunate by the fact that some of the major exponents in the European football industry were extremely collaborative and candid about the subject, allowing us to conduct twenty three high-level interviews across four different countries covering representatives of and experts on all main stakeholders involved in the subject. Precisely because of time constraints, we have not been able to directly interview executives from TV companies or sponsors, nor have we been able to conduct quantitative analyses on the opinion of fans as far as the issues touched by this paper are concerned. Our conclusions with regards to those groups of stakeholders are based on interviews with industry analysts and any available research material published on the subject.With respect to research materials we have been able to obt ain the majority of information needed to prove or discharge our set of hypotheses, perhaps with the exception of conclusive empirical data about the determinants of demand for sport. This would be particularly useful in allowing the design of more precise scenarios for the future of the game, and further research in this area might prove valuable. 9 Figure II – The original project issue tree (as designed in the first group meeting) Overriding question How do international sport governing bodies adapt and respond to the pressures of lobby groups? The case of UEFA and G14 Issue A What are the conflicts within the internal structure of European Football and why are they arising? A1 What are the interests of UEFA? A2 What are the general interests of the clubs? A3How do those interests interplay? A4 What additional factors could be creating / amplifying conflicts? A1. 1 How does UEFA pursue those interests? A2. 1 How do top clubs pursue those interests? A3. 1 What are the areas of convergence? A1. 2 How do those interests represent the views of the member associations? A2. 2 How do other professional clubs pursue those interests? How do amateur clubs pursue those interests? A3. 2 What are the areas of divergence? A2. 3 Issue B How efficiently are those conflicts being managed? B1 How have past conflicts been managed? B2 What are other examples of conflict management in sports? B3 What lessons can we learn from those examples? Issue CWhat risks can arise for the sport from the management of such conflicts and how can those risks be mitigated? C1 What if UEFA rigidly fixes its position against the Lobbying group? C2 What if UEFA adopts a reactive role towards the conflict? C3 How can UEFA adopt a proactive model to solve conflicts? C1. 1 What are the threats for UEFA coming from G-14? C3. 1 What are the most sensitive areas to be considered by this model? What are the key success factors for the model? C1. 2 What are the threats for G-14? C3. 2 C1. 3 What w ould be the consequences of those threats if carried out? C3. 3 How should the model be designed? 10 CHAPTER ONE: BACKGROUND 1. 1. 1. 1. 1. STRUCTURE OF EUROPEAN FOOTBALL GOVERNANCE AND FOOTBALL – THE PYRAMID STRUCTUREThe governance of association football resembles a pyramid where each layer takes on different responsibilities in different geographical scope. The formation of this pyramid has historical roots in the early stages of organized football in Britain and it has not been a uniform process. As Britain changed from an agrarian to an industrial society in the late 18 century, the games played in the open fields of the countryside were adapted to suit the narrow streets and hard surfaces of the new urban communities. The leisure time determined by sun, seasons, and feudal obligation was replaced by the much more restricted leisure hours decreed by the artificial light of the factories and the needs of the owners.Improvements in roads and transportation allowed games to be played outside the local village, and as steam trains started to link the ever growing towns of Britain, it became possible to play on a national basis the games that the middle class favoured and promoted. This expanding scope involved agreement on rules and the formation of a national governing body. 1 th And that is where the pyramid begins to be formed. With the spread of the sport around the world, the pyramid started evolving from a local and national to an international scope and finally reached its current form as shown in Figure 1. 1: Figure 1. 1: The pyramidal structure of European football FIFA UEFA National Leagues National Associations REGIONAL ASSOCIATIONS CLUBSThe clubs The clubs are the basic cell and the foundation of the pyramid. Originally founded as local associations their initial objective was to offer the local community the possibility of engaging in the sport, thereby promoting the idea of â€Å"sport for all†. With the introduction of a regular c ompetition, The FA Challenge 1 MURRAY Bill, The world’s game – a history of soccer, University of Illinois Press, 1998, p. 2 11 Cup in 1871, spectator crowds in England began to increase dramatically and in 1901 a crowd of 110,820 turned up to see Tottenham Hotspur and Sheffield United contest the final of the trophy . These crowds were increasingly giving birth to the popularisation of football as a spectator sport.Today, the main objective of top professional football clubs has shifted from the offer of opportunities to engage in the practice of the sport, to the offer of the spectacle of the game and all the attached psychological, emotional and social benefits for the fan. But the clubs still remain the basis and the primary link of contact with the communities. Regional associations Regional associations form the next level; although this form of association is not present in all countries. Clubs are usually affiliated to these organisations. Their scope of action is limited to a region within a country in which they are responsible for organising regional championships or coordinating the sport.National associations The first national association to come into scene was the English Football Association, or simply the FA as it is known today. It emerged from the London FA that became virtually the sole authority for the game in England after different regional associations in England came to a compromise agreement in 1877. By 1905 it had achieved the mark of 10. 000 local clubs affiliated to it. The success of the London FA in establishing its control over other regional associations came with the popularity of the Challenge Cup, instituted in 1871, a competition that is still played today. Also helping to secure the success of the dribbling game was the regular match with Scotland which began officially in 1872. 4 3 2Today, national associations besides organizing club competitions and being responsible for the coordination of a national tea m to represent the country in international competitions are also the supreme regulatory and disciplinary body of the sport within the national boundaries, although, as we will see later, they have limited autonomy and have to abide by the rules of UEFA and FIFA. By doing this they are granted a monopolistic position in the national organization of the game, as FIFA as the ultimate body in the pyramid will only recognize one association per country. National Leagues Some countries such as France, Italy or England know another form of organisation with the introduction in the structure of national leagues. The origin of leagues dates back to the England of the end of the 19 century.In 1885, after a series of complaints about athletes accepting money and the creation of committees to deal with them, followed by threats of serious punishments, the FA legalized professionalism. This meant that players had to be given a regular income. The Challenge Cup was still the main competition. Be ing a knock-out competition, even the best teams could be eliminated in an early round being left with nothing to do. The answer was the Football League. The league was 2 3 4 5 5 th : Ibid, p. 9 Ibid, p. 6 Ibid, p. 7 The elite club competitions are respectively organised in these countries by the ‘Ligue Nationale’, ‘Lega Calcio’ and the ‘Premier League’. 12 ade up of selected teams that agreed to play one another on set dates, on a home and away basis, and promised to field their strongest teams and to give league matches preference over all others. The individuals engaged in the discussions about the new league were essentially self-made men, small business owners and industrialists who came from a social category different from that of the men of the FA. With the FA watching anxiously, discussions were held by those in favour of the league. On 8 September 1888 the new football league kicked off competition with twelve teams. A constitution wo uld be drawn up determining issues such as points scoring system, how to share the gate money, and later, a system of promotion from and relegation to a second division.According to its founder and guiding spirit, the Scottish-born Birmingham businessman William McGregor, the aim of the league was to protect the interests of the clubs taking part in its competition. He openly declared that â€Å"the league should never aspire to be a legislating body†¦ by the very nature of things the League must be a selfish body. † The English Football League conceded the right of the FA to control football in all areas but the organisation of league competition. This meant that the FA was left to control the Challenge Cup, internationals, amateur football and certain matters concerning the rewards and disciplining of the professionals. 6Today, the relationship between national leagues and national associations throughout Europe is very similar to the one verified in England in the lat e 19 th century. While the national association is responsible for the control and development of all aspects and disciplines of football within the national boundaries, the league’s main interest is the commercial development of its major product, a league competition. Although there are tensions from time to time, the two bodies co-habit in relative peace given their share of common interests on the game. UEFA The next level of the pyramid is formed by the continental confederations, or more specifically in the case of Europe, UEFA – The Union of European Football Associations. As the name suggests, UEFA is formed by 52 national associations .It is the governing body of football on the continent of Europe and has as its core mission to safeguard the development of European football at every level of the game and to promote the principles of unity and solidarity, as we will detail later. Along the same lines of the national associations UEFA enjoys a monopolistic posi tion on the organisation of the game in Europe, guaranteed by the pyramid structure. It is relevant to notice that unlike the reality at the national level, where a league takes from the national association the responsibility of organizing and commercially developing an elite competition among clubs, the figure of the league does not exist at the continental level. The task of organizing and commercialising European club competition falls into UEFA’s direct jurisdiction.FIFA FIFA, is the supreme authority of football in the world. Its creation, in 1904, precedes that of the continental confederations, and thus, its membership structure is also formed by national associations. 7 6 7 MURRAY Bill, The world’s game – a history of soccer, University of Illinois Press, 1998, p. 11 See a complete list of UEFA’s member associations at appendix a. 13 Technically, the continental confederations, like UEFA, are not members of FIFA, but are recognized bodies and hav e the right to elect the vice presidents and members of FIFA’s Executive Committee. FIFA’s purpose is to promote and develop the game of football throughout the world, and to be the uardian of the regulations of the game. Unlike national associations, national leagues and continental confederations, FIFA currently does not organise club football competitions, although it regulates over matters that impact club football reality, such as transfer systems, and the coordinated international calendar. FIFA’s activities as far as competition organisation is concerned are currently limited to international competitions among national teams. FIFA is responsible for holding the whole pyramid together. The ownership of the FIFA World Cup, the most important single sporting event in the world, and a large and universal membership base are its main sources of power.By making use of regulations such as the need for a national association to be a member of a continental feder ation for two years before being granted membership to FIFA , and by obliging continental confederations to comply with and enforce compliance with the FIFA statutes, regulations and decisions, and to ensure that international leagues or any other such combination of clubs or leagues shall not be formed without its consent and approval of FIFA , or by prohibiting affiliated national associations and their clubs to play matches or entertain other sports contacts with associations which are not affiliated to FIFA or with clubs belonging to them without FIFA’s consent , it guarantees that the layers and the monopoly of the pyramid in the organisation of football are respected. 1. 1. 2. THE EUROPEAN FOOTBALL INDUSTRY 11 10 9 8Definition of the Football Industry Many people resent the use of the term ‘business’ to describe the activities performed by the main actors in the European football scenario. However, it is undeniable that European football has undergone an ac centuated process of commercialisation, especially in the last fifteen years, which has brought significant amounts of money into the game. Instead of engaging in an emotional and semantic discussion to determine if football is a game, if it is a business or if it is as much a business as it is a game, we will define as football business the group of commercial activities performed by the actors in the football industry, and we will define as football industry the group of legal entities whose commercial activities are rooted in the game of football.However, such a definition of the football industry is a very broad one and for the purpose of this paper it needs to be narrowed down as proposed in Figure 1. 2. 8 9 10 11 FIFA has currently 204 member associations (one per country), which represents a larger membership base than the UN. FIFA Statutes, art 4, par. 1 FIFA Statutes, art. 9, par. 3 FIFA Statutes, art. 57, par. 1 14 Figure 1. 2 – The structure of the football industr y12 Sports Industry Football Other Sports Sporting goods Facility dependent sports services Sport consultation services Spectacle sport Hybrid Sport Participant Sport Club Football National team Football Participant services Spectator services Sponsorship services Media servicesLicence services Scope of this paper Outside the scope of this paper The product-based typology proposed in Figure 1. 2 divides the sport industry into three main segments: Sporting goods, Facility dependent sports services and Sport consultation services. †¢ Sporting goods: companies producing apparel, shoes, equipment, team and/or league merchandise, ‘sport’ licensed products. Examples of companies in this segment include Nike, Adidas and Reebok. †¢ Sport consultation services: companies supplying advice in areas such as management, medical, design, building and maintenance, programming, among others. Examples include IMG, Octagon, and InFront. Facility dependent sports services: orga nisations offering sport as their end product be it as spectacle (matches, competitions) or as access to participation. This segment, like the others, can be further subdivided in three categories: spectacle, participant and hybrid sport. – Spectacle sport: the most prominent feature of organisations in this category is the ability to generate substantial revenues directly or indirectly from spectators. Here, athletes are usually professionals. Examples of organisations in this category are Manchester United, Juventus and the English Premier League. 12 Adapted from WESTERBEEK & SMITH, Sport Business in the Global Marketplace, Palgrave, 2003, p. 87 15 Participant sport: this is the category of entities providing opportunities for people to engage in sporting activities, usually on a non-professional basis, like gyms, community sports centres and amateur sport clubs. – Hybrid sport: in this category, sports organisations offer a mix of spectacle and participant sport. As Westerbeek and Smith 13 point out, governing bodies are likely to be hybrid sport organisations as they are charged with developing a mass participation base for the sport with the ambition of securing its longevity, while encouraging and promoting the few outstanding athletes that can perform in elite spectacle sport, providing the sport with the exposure so essential to its popularity, while developing the basis for spectacle sports’ revenue streams.Once the segmentation is understood, we can then define the European Football Industry in this paper as the group of legal entities acting in the facility dependent sports services, specifically within the boundaries of the spectacle and hybrid sport category in the territory covered by the fifty two member associations of UEFA. It is important to remark that this industry is built on two main pillars, club football and national team football, that ultimately have to â€Å"share† part of the same resources: top-level pla yers, spectatorship, calendar time, among others. Dimension and Growth of the European Football Industry There is no reliable data about the size of the European Football Industry as defined above.Deloitte & Touche estimates that, in the season 2000/2001, it should be close to national team football in Europe is in the range of 90-10% respectively. 15 10 billion. 14 A possible breakdown of this number is shown in Figure 1. 3. We reckon that the split between club football and Another important consideration is the fact that domestic football (in top and lower divisions) is by far the most important segment of the industry. As we can see from Figure 1. 3, the lion’s share of the industry is represented by top-division club football in the domestic leagues, amounting to 6. 6bn, thereof the so-called ‘big-five’ leagues (England, Italy, Spain, Germany and France) dominate 78%.Put in perspective, those numbers are not very impressive, as the entire European Football I ndustry would not even feature in the ranking Fortune Global 500 16 in 2002. What is impressive though, is the consistent fast pace with which this industry has been growing over the past 10 years. The top-division clubs at the ‘big-five’ leagues all grew at similar rates from the mid-1990s to 2001 – between 18% to 24% per annum, 17 while UEFA’s consolidated revenues grew at an impressive rate of 29% per annum 18 during the nine-year period comprised between the seasons 1992/1993 and 2001/2002 mainly 13 14 15 WESTERBEEK & SMITH, Sport Business in the Global Marketplace, Palgrave, 2003 Deloitte & Touche Annual Review of Football Finance – June 2002 – p. 16 A priori, by looking at Figure 1. , this proportion might sound counter-intuitive but we must not forget that a share of UEFA’s and the European federations’ revenues is based on club football. The Fortune Global 500 ranks the 500 largest companies in the world based on their g lobal revenues. In the 2002 ranking, Wal Mart appears as number 1 with global revenues around US$220 billion, while Takenaka, a Japanese company in the construction business ranks 500 with global revenues slightly above US$10bn. DELOITTE & TOUCHE Annual Review of Football Finance 2001/2000 – p. 4 UEFA’s consolidated revenues including amounts paid beforehand – UEFA CEO Annual Report 2002 p. 33 16 17 18 16 riven by the growth of the UEFA Champions League as we will show later. And although these growth rates are recently giving sign of slowing the pace, we believe it is more a matter of an internal adjustment of the industry than the apocalyptical actualisation of the burst of a bubble as many analysts like to put it. Most of the economic fundaments supporting the growth of the European Football Industry are solid, as notwithstanding the latest downsizing in the value of broadcast rights paid for some properties and the breakdown of companies like ISL and KirchMe dia, we do not see signs of an actual decrease in the demand for European Football.Much on the contrary, as we have seen that the TV audience for the 2002/03 UEFA Champions League grew by 9% in relation to the previous year, meaning that the competition produced an average live audience of 46 million viewers per match-week in the larger markets. 19 Figure 1. 3 – Estimated market size of the European Football Industry 2000/2001 billion 1. 3 1. 2 6. 6 ‘Big-5’ Leagues 10. 0 0. 7 0. 2 10 year average 24% 17% 14% 13% 10% 78% England Italy Spain Germany France growth > 20% p. a. Top division domestic club football1 Lower division domestic club football3 UEFA Club Competitions2 Annualized EURO Cup2 Sources: 1) Deloitte & Touche, 2) UEFA , 3) Authors’ estimatesRevenues of National Associations, Leagues, UEFA, others3 Total1 It is important to notice though, that if the industry has experienced significant growth in revenues in the last decade, profitability has not kept pace. This is mainly because of the rise in the spending on players in a phenomenon known as the ‘prune juice’ effect, which refers to the tendency for revenues generated by football clubs to simply pass through the clubs’ accounts on the way to players’ pockets. Just to illustrate that point, as already mentioned, the consolidated revenues of the top-division clubs in the ‘big-five’ leagues grew at an annual rate between 18% and 24% between the seasons 1995/96 and 2000/01.In the same period the ratio wages/revenues went from 47% to 60% in England, and from 57% to 75% in Italy, just to mention two of the major markets. profitability 21 20 The result is a plunge in the 23 of the industry in the major markets 22 with the most accentuated cases being Italy going from –1% to –19% in six seasons and Spain going from –7% to –28% in four seasons. 19 20 21 22 23 UEFA’s champion audience, Sportbusiness. com, June 3 2003 Analysis of the authors based on the Deloitte and Touche Review of Football Finances – 2002 Measured as Operating Profits / Revenues The exception is Germany that managed to keep its profitability between 8% and 10% during the period There are no available date for Spanish top-division clubs in the seasons 1999/00 and 2000/01 17Business Model of the Football Industry The current business model of the European Football Industry relies on four main revenue streams: 1. Match day revenues – Expenditure of fans on-site, mainly derived from gate receipts (including season tickets). 2. Media rights – Value paid by media companies to acquire the rights of broadcasting a specific sport property. 3. Sponsorship – Mainly derived from brand/name placing on team shirts and around stadia. 4. Other commercial revenues – Mainly revenues from licensed merchandise, but also includes conference and catering services. Figure 1. 4 gives an overview on the proportions of these revenue streams for a sample of domestic leagues. Figure 1. – Breakdown of top-division clubs revenue streams – 2000/01 16% 31% 18% 16% 42% 34% 40% 25% 54% 39% 51% 45% 51% 20% 18% 20% 12% 4% 41% 43% 13% 30% 17% 9% 15% 22% 14% 18% 15% 12% 13% England Italy Spain (97/98) Key: Germany France Portugal Netherlands Norway Matchday Broadcast Sponsorship (includes all commercial revenues for England) Other commercial Source: Deloitte & Touche As we can see from the graph above, TV is in general the single largest contributor to clubs’ revenues in the ‘big-five’ leagues. According to Deloitte & Touche in the season 2000/01, TV responded for 2. 4 billion, or 46% of the 5. 2 billion total revenues of the top-division clubs in the ‘big-five’ leagues.However, this proportion will vary significantly according to the size of the TV market in which the club is located. There is a clear difference between the relevance of TV monies for the top-division clubs in the ‘big-five’ leagues and the top-division clubs in other mid-size or small leagues like Portugal, Netherlands and Norway, as shown in the graph. The Fan: The Heart of the Football Industry Although the importance of television and sponsors is clear in the current business model of the European Football Industry, which might lead us to conclude that those are the most important actors in this industry, the dynamics of the industry rely ultimately on the interest of spectators. Figure 1. shows a simplified map of value relationships between actors in this industry. 18 Figure 1. 5 – Summarized Value Chain of the Football Industry Simplified Simplified 2 Leagues Sponsors ? Clubs B C 1 3 ? Television A Football Fans Population Note: For the sake of simplification this map does not consider some important stakeholders in the Football Industry such as governing bodies and federations, players, clubs’ shareholders, national teams, a mong others The cornerstone of value for the Football Industry is relationship – between fans and the clubs. In this relationship the clubs supply the fans with the game and all the emotional, social and psychological benefits attached to it.The fans, in turn, provide the club with financial resources in the form of gate receipts, season tickets or membership fees and purchase of licensed merchandise besides the emotional association, support, loyalty, exposure, among other non-tangible benefits. Relationship illustrates the fact that clubs need the league structure to create the on-field competition environment required by fans. And the quality of the competition, measured in the quality of teams taking part in that competition and in the level of competitive balance, is one of the most important drivers of demand for football. This relationship between clubs and leagues 24 is one of the ell-known peculiarities of the Football Industry. In any other industry the ideal object ive of the players would be to achieve a monopolistic position driving competitors out of business, whereas in the Football Industry this is not only impossible, but also not desirable, since clubs need to cooperate for the joint-production of the game. However, there are inherent conflicts between teams since the league structure also determines a team’s individual share of industry profits. Relationship reflects the fact that part of the football fans are not necessarily attached to one specific club but have overall interest in a particular competition.The marketing strategy of the UEFA Champions League has the benefit of strengthening this link eventually intending to increase the share of the population interested for European football regardless of a particular team allegiance. In the left side of the map we have television companies. Traditionally, revenues of free-to-air television companies are based on advertisement from sponsors. In order to attract sponsors, 24 Le agues or whatever entity responsible for organising a football competition 19 television companies must be able to attract audience, and this is done by offering content. That is represented by relationship A. Television companies offer content to the public in the quest for an audience.By getting an audience, television companies become attractive to sponsors. That is shown in relationship C. Sponsors will pay to use television as a channel to advertise their products and services to their target markets among the audience. Pay-TV companies have an incremental revenue stream. In addition to advertisement from sponsors they rely on subscription fees from consumers interested in having access to exclusive content. In both cases though, it is clear that audience is key. In markets where the interest for a particular sport captures a large share of the population, which is the case of football in the ‘big-five’ leagues, the link represented in relationships 25TV companies and sponsors realise the importance of and wish to exploit it. That is represented by and relationships ? and ?. In relationship ? , TV companies pay to acquire the right (if possible exclusive) to broadcast individual matches or competitions in the hope to attract an audience. In relationship ? sponsors pay to associate themselves with teams or leagues both as a way to get visibility to sports fans and as a way to associate their brand with the sporting brand they are sponsoring, thus exploring the goodwill present in the link between the fan and the sport. Their ultimate goal is to get the population to consume their products and services.In all cases it is simple to understand that the ultimate source of value for the Football Industry is the interest of the fan for the sport. The fan is the TV viewer, the pay-TV subscriber, the stadium spectator, and potentially the end consumer of the sponsors’ products and services. The larger the fan base and the larger its identificat ion with the sport, the higher the probability that this sport will attract the interest of TV and sponsors. Of course, the potential value of the Football Industry in a particular region will depend also on the size of the TV and the advertisement markets in that region, which in the end bear relation with the demographics of the region. Thus the focal point of he Football Industry is the football fan, 26 and that is the reason why it is crucial for clubs, leagues and governing bodies to understand what drives spectator interest for European football, in other words, what are the drivers of demand for football. Demand for Football Spectatorship Stefan Szymanski summarizes the most important factors driving fan interest for football in three classic elements: 27 Quality of the game Uncertainty of outcome (of the match and of the competition) Success of the fan’s own team 25 26 England, Italy, Spain, Germany and France There are several studies intending to qualify the footbal l fan according to different levels of commitment and interest.For the sake of this paper we qualify as football fan any person interested in the game regardless of the level of commitment. Interview with Stefan SZYMANSKI, Professor of Economics, Imperial College London 27 20 The quality of the game would touch on aspects such as the entertainment and spectacle, the aesthetic pleasure of watching the game, the quality of the visiting team. The uncertainty of outcome has two major aspects: uncertainty of outcome of the match and the uncertainty of outcome of a competition. About the uncertainty of match outcome, the review of the literature shows that generally, the closer the result of the match is expected to be, the more attractive the game will be to fans.Along the same lines fans would be less enthusiastic about a game in which the result is seen as a foregone conclusion. Furthermore this uncertainty must be preserved at all costs, as the integrity of the game is completely conn ected to the integrity of the result. 28 The uncertainty of outcome of the competition is measured in terms of competitive balance. There is general agreement that match attendance will be influenced by the closeness of the championship race. As more teams have a chance of reaching the finals or play-offs, fans will expect a close contest and anticipate high quality play. This anticipation will be reflected in a higher level of fan enjoyment and consumer utility and a boost to crowd size. 29Success of the fan’s own team implies that supporters achieve satisfaction from identifying with a winning team. Arguably, a team that consistently loses will have difficulty attracting large crowds. active supporter bases than their domestic peers. But if a winning season contributes to the increase of the commitment of the supporter base of a specific club and if the fan base, as argued before, is the principal source of goodwill for a club, it seems obvious to state that clubs, as indiv idual entities, will seek to maximize their winning ratios as a way to increase the supporter base. This practice, if successful, will eventually conflict with the element of uncertainty of outcome.The challenge for clubs and organisers of competitions is to understand the optimal combination between those three elements (quality of the game, uncertainty of outcome and success of own team) in the determination of demand for football as they frequently can conflict among themselves. Conclusion In summary, as much as we want to avoid the discussion of football being a business or a game, we must recognise that the dynamics of the football industry present some specific characteristics that make us conclude that football cannot be taken as just a regular business. These special characteristics fall mainly in three inter-related areas: 1. Football clubs are cultural and community assets with associated sporting and community objectives.There is a long and unfinished academic debate argu ing that football clubs are utility 30 That could help to explain why clubs like Manchester United or Real Madrid have larger and more 28 In that sense potential contractual clauses like the one suggested by the press in the Beckham transfer from Manchester United to Real Madrid, in which the acquiring club will pay a bonus to the ceding club based on the former’s future performances at championships at which both teams compete could allow for the public’s perception of match fixing between the two clubs in a specific scenario, which could eventually hurt long-term demand for the game. WESTERBEEK & SMITH, Sport Business in the Global Marketplace, Palgrave, 2003, p. 64 29 30Although formation of fan basis is a more complex phenomenon and depends on many other factors apart from a team’s winning record at a given time. 21 maximisers pursuing non-pecuniary objectives rather than maximisation of economic value as any other business. Sloan 31 argues that while in US professional team sports, many teams have an established track record of profitability, in the case of European football teams, profit making clubs have been very much the exception and not the rule. He goes further explaining that chairmen and directors with a controlling interest in football clubs are usually individuals who have achieved success in business in other fields.Their motives for investing may include a desire for power or prestige, or simple sporting enthusiasm: a wish to see the local club succeed on the field of play. In many cases profit of the club seems unlikely to be the major motivating factor. As one of our experts interviewed puts it: ‘Clubs are too much under the control of local business owners or major individuals in the community looking for personal gain. When these people take the reigns of a club usually they end up satisfying themselves. Many of them have come to my office and said: – For me, investing in a club is just like having a PR c ampaign. Rather than giving money to an advertising agency, I buy a club and since the press talks a lot about me, it has an equivalent effect. ’ . The relationship between the supporter and the club can be very different to a standard customercompany relationship. Lomax 32 explains that most supporters choose their clubs at a young age and then stick to this choice however irrational it may seem at face value. Football supporters are key stakeholders contributing to the club not just by being loyal customers but also by actively adding to the match day spectacle, and often committing financially to keep their club afloat as it was the case with the English supporters of Northampton FC that contributed with money in a fundraising campaign to alleviate the club’s financial distress. 3.As already mentioned, the Football Industry depends on both competition and co-operation among clubs. Football then redistributes income from leading to lagging clubs (and leagues) in orde r to promote competitive balance. This redistribution of income would not be allowed in most traditional industries. The combination of those three factors makes the dynamics of the football industry special in relation to most of the other regular forms of businesses. 1. 1. 3. STAKEHOLDERS’ M AP After analysing the governance structure and the dynamics of the European Football Industry, it makes sense to map its stakeholders in a more comprehensive way. Figure 1. 6 depicts those stakeholders: 31SLOANE Peter, The economics of professional football: The football club as a utility maximiser, Scottish Journal of Political Economy pp. 121-145, June 1971 32 LOMAX Brian, Democracy and Fandom: Developing a supporters’ trust at Northampton Town FC, in: GARLAND John, MALCOLM Dominic and ROWE Michael (Ed),The Future of Football – Challenges for the 21st century, Frank Cass, 2000 22 Figure 1. 6 – Stakeholders Map of the European Football Industry Non Non Exhaustive Exhaustive Fans / Spectators Club Patrons Clubs UEFA Stock Market G-14 European Union Players National Leagues National Associations FIFA European Football Industry Media Sponsors Press Once the stakeholders are identified we will make use of table 1. to map their interests, analyse their bargaining power, identify the main groups over which they exercise their power and qualify the types of pressures suffered by each group. Some of the points covered in this section are introductory and will be explained in more details later, but we think it is important to bear in mind the relationships described below, as they will be helpful to understand the nature of the conflicts treated in this paper. Table 1. 1 – General overview of stakeholders interests, power and pressures Stakeholder Main Interests †¢ Identification †¢ Entertainment Power Focal point of the industry but not sufficiently organised (H/M)* Vulnerability Not sufficiently organised †¢ Too emotionally a ttached to the game, will accept poor treatment †¢ Internal conflict between individual and cooperative objectives Pressure exerted Pressure received Fans / Spectators †¢ Spectacle †¢ Psychological satisfaction †¢ Social Integration Immediate pressure for sport performance over clubs Community Fans (H/M) Press (H) Players (H) Pressure on Governing Bodies and leagues over a number of issues related to the regulation of the game (Revenue sharing, competition format, supply of players to national teams, calendar) Patrons (H) UEFA (H) G-14 (H/M) Media (H/M) FIFA (H) Sponsors (H) Leagues (H) Stock Market (H) Nat. Assoc. (H) Increase demand for football Clubs †¢ On pitch performance limited by budget constraints Basic cell of the industry, controls the most valuable assets for the production of the game (H)* †¢ Short-term view †¢ Little control over main cost items †¢ Not a homogeneous and organized group †¢ Lacks direct representation at highe r decision making level *High (H), Medium (M), Low (L) 23 Table 1. 1 – General overview of stakeholders interests, power and pressures – continued Stakeholder Main Interests †¢ Develop the following of the game in Europe Power* Vulnerability Pressure exerted Pressure received* G-14 (H) Other clubs (M) FIFA (H) UEFA †¢ Keep tight control of the game in Europe †¢ Promote solidarity †¢ Promote port for all †¢ Develop other disciplines of the game †¢ Develop the following of the game universally Detains the natural monopoly in the organisation of the game in Europe, holds the key for eligibility of players and clubs at competitions (H) †¢ Relies too much on elite club competition to fund its activities Pressure on clubs and players to comply with the regulations and principles EU (H) Press (H) Fans (L) Media (M) Sponsors (L) Players (M) Leagues (L) FIFA †¢ Keep a strong control of the game †¢ Promote solidarity †¢ Develop o ther disciplines of the game †¢ Content – to get audience from the fans Is the supreme body of world football (H) †¢ Relies too much on one single national team event to fund its activitiesPressure on national associations, confederations, clubs to comply with the rules and regulations of the game EU (H) Media (M) Sponsors (L) Confederations (M) Media †¢ Has an interest in the game as long as it generates audience. Will switch to other content options as soon as it does not †¢ Content – to get readership from the fans Is the single major investor in the game. Without TV money Football collapses (H) †¢ Limited bargaining power over the price of top events †¢ Limited concern about the long term issues of the game †¢ Subject to competition law Pressure on leagues and UEFA for changes in the format in the quest for immediate rise in audienceFans (H) EU (H) Internal competition (H) Sponsors (H) Press Extremely influential over fans (H) Has the control over the national game, is represented with decision power at UEFA and FIFA, owns the national teams – a major source of passion (H/M) Usually controls the central marketing of domestic competitions (M) In the top level, due to the limited supply of talent and due to identification of fans (H). In the lower level due to the high replaceability (L) †¢ Credibility It is the ‘Big Brother’ watching the steps of Clubs, National Associations, Leagues and Players Fans (H) Other types of media (H) National Leagues (H) Players (H) National Associations Aligned with FIFA and UEFA at the domestic level Being confined to national borders may suffer from globalisation tendencies Pressure on the clubs, and on the leagues G-14 (H) Clubs (M) Fans (M) Media (H) Press (H) National leagues †¢ Organise club competition at the domestic level †¢ Commercial optimisation of domestic competition Being confined to national borders may suffer from globalisation tendencies Pressure on the clubs for cooperation over the quest for individual objectives, pressure on national associations Clubs (H) Media (H) Fans (L) †¢ Self realisation Players †¢ Financial security †¢ Status †¢ In general not too organised †¢ Incredibly risky and specific career – shortClubs (H/M) Pressure on the clubs for better labour conditions Fans (H) Press (H) Nat. Assoc. (H/M) Leagues (M) *High (H), Medium (M), Low (L) 24 Table 1. 1 – General overview of stakeholders interests, power and pressures – continued Stakeholder Main Interests †¢ Guarantee fair trade in the industry †¢ Help Federations to implement professional management †¢ Keep the balance among football and other industries †¢ Increase representation of top clubs in the decision making process of professional club football at international level †¢ Advise clubs on current financial challenges Power Vulnerability Pressure exerted Pressure received EU Can change the structure in which the professional level of the game is managed (H)Most of the time acts like an observer, not taking action until an actor complains †¢ Do not represent all top clubs †¢ Not officially recognised by UEFA †¢ Cannot impede UEFA or FIFA to directly deal with individual member clubs †¢ Threatening behaviour †¢ Relegation / Promotion system †¢ Eligibility for international competitions Pressure on the governing bodies on anti-competitive practices Industry sectors (H) Member states (H) G-14 (The Lobby Group) Represents the major top clubs in Europe (H) Pressure on UEFA, FIFA, national associations, other clubs and the EU Fans (L), UEFA (H), Member clubs (L) Stock Market †¢ Maximisation of shareholder valueImportant source of funds for some clubs, but not very representative in the industry as a whole (M/L) †¢ Too dependant on the highs and lows of sporting performance †¢ Subject to regulations made by people who may not be profit seekers †¢ Limited sensitivity to the long term peculiarities of the game †¢ Limited control over the sponsorship agreement Pressure on the listed clubs for diversification of revenues and for financial returns Regulatory bodies (H) Fans (L) †¢ Visibility to fans Sponsors †¢ Association with the goodwill of clubs and competitions One of the major sources of revenue in the Industry(H) †¢ Reduced bargaining power over the price of top events †¢ Internal competition in the sponsorship industryPressure on competition organisers, clubs and players Shareholders (H) Other sponsors (H) Club Patrons †¢ Prestige †¢ Value transfer to other businesses Owner and benefactor of the club (H) Too much emotionally involved with the club Over players for pitch performance Fans (M), Players (H), Community (H) *High (H), Medium (M), Low (L) 25 1. 1. 4. PROFESSIONAL FOOTBALL COMPETITION CALENDAR The pyramid structure of football gove rnance, along with the international nature of the game impose additional challenges to the organisation of competition in Europe. All layers of the pyramid rely mainly on the organisation and participation at competitions to generate the funds for their activities.Be it FIFA with its quadrennial World Cup or biennial Confederations’ Cup , UEFA with the Euro or the UEFA Champions League, the National Associations with the participation in the international competitions for national teams organised by FIFA and UEFA or with the organisation of the domestic cups, the national leagues with the organisation of the domestic league, or the clubs participating in domestic and international competitions, all actors depend ultimately on competition to subsist. The complexity in the organisation of the competition calendar comes from the fact that the actors have to share the same restricted resources: players and time.National team competitions, to be able to exploit their full commerc ial potential, have to count on the presence of top players, often the same players that are fighting for top teams in club competitions. International club competitions, along the same lines, hope to count with the participation of the most popular clubs, the same ones participating in domestic competitions. All of this constrained by the fact that there are only 52 weeks in the year, and there is a physical limitation to the number of matches a player can play in a given period of time. Thus it is not an easy task to find the right combination of supply among the different types of competitions: the one that will maximise the utility for the football fan. Figure 1. shows the configuration of the football calendar for the season 2002/2003, displaying the major competitions currently being played at the elite level of football in Europe. Figure 1. 7 – European Competition Calendar – Elite Professional Football – Season 2002/2003 2002 June July August September O ctober November December 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 Week Domestic League1) Domestic Cup6) UEFA Champions League2) UEFA Cup2) UEFA Intertoto Cup Super Cup / Intercontinental FIFA World Cup7) Euro (qualification) International Friendlies3) 4) Na tio n Te al am Cl u b Week 4) Domestic League1) Domestic Cup6) UEFA Champions League2) UEFA Cup2) UEFA Intertoto Cup Super Cup / Intercontinental FIFA World Cup7) Euro (qualification) International Friendlies3) 003 Season 02/03 January February March April May J Total 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Matchdates 38 10 23 15 10 2 9 8 4 Na tio n Te al am Notes: Cl ub 1) Based on the English Premier League 2) Including qualifying rounds 3) According to FIFA Coordinated International Calendar 4) Week 22 starts on Monday May 26th and finishes on Sunday June 1st 5) Weekend matches include Monday and Friday for the Domestic League 6) Based on the FA Cup – Starting at the 3rd round when Premier League clubs join the cup 7) Maximum of 7 matches per national team Key: Weekend matches5) Mid-week matches Source: Analysis of the authors based on data from Rec. Sport.Soccer Statistics Foundation (RSSSF), UEFA and FIFA 26 Figure 1. 7 shows that the majority of the annual football activity is based on domestic club football, including a domestic league and a domestic cup. Although the graph is based on the Premier League and the FA Cup, the activity in other countries follow a similar pattern. There is usually a domestic league being played from August to May mainly during the weekends with a number of match dates varying slightly depending on the number of participants at the top division of the league (usually between 18 and 20 in the major markets), and there is a domestic cup usually being played during the mid weeks over around 10 rounds. he UEFA Intertoto Cup. UEFA Champions League Eligibility for the UEFA Champions League depends on th e technical performance of clubs at their domestic leagues, and on the ranking of national associations prepared by UEFA. As an example, the champions and the runners-up at the English Premier League automatically secure a berth among the 32 participants at the UEFA Champions League, while the third and fourth places will play at a qualifying stage. The same is valid for Spain and Italy. But countries ranked lower by UEFA receive a reduced number of berths for the competitions with some countries receiving only a place at the qualifying phases.The competition is preceded by three qualifying phases played by 56 clubs entering in different stages. From the qualifying phases 16 clubs eventually gain access to the competition. Those clubs join the other 16 that secured an automatic berth, totalling 32 clubs. Currently, the 32 clubs play a first group stage (eight groups of four teams) with the two top teams in each group qualifying for a second group stage (four groups of four teams). T he group stages are followed by a knock out stage (quarter finals and semi finals) with home and away matches followed by a one leg final match at a predetermined venue. For the season 2003/04 UEFA has decided to eliminate the second group stage, meaning that the sixteen clubs ualifying from the first group stage (eight groups of four teams) will enter directly into the knock out stage (eighth finals, quarter finals, semi finals, and the final). This will reduce the maximum number of matches per club from 17 to 13. UEFA Cup Eligibility for the UEFA Cup is open to teams finishing in leading positions behind the champions in the domestic top divisions, besides the winners of the national cup competition, the winners of the league cup competition in certain countries, the three winners of the final matches at the UEFA Intertoto Cup and three clubs from UEFA’s annual fair play assessment. The UEFA Cup is a knock-out competition played home and away (except for the final match whi ch is played in a one leg match) and is preceded by a qualifying stage.At the third round, the eight teams falling in third place at the first group stage of the UEFA Champions League, also join the UEFA Cup. Figure 1. 8 Illustrates the format of the UEFA Cup, which is currently being revised by UEFA. 34 33 In the international scenario, there are three main club competitions currently being organised by UEFA, The UEFA Champions League, The UEFA Cup and 33 The domestic cup usually counts on the participation of clubs from many professional divisions, but the top clubs will join the cup at an advanced stage. Not considering the qualifying rounds 34 27 Figure 1. 8 – Format of the UEFA Cup # of Clubs 82 41 + 52 96 48 24 + 3 From Intertoto Qualifying Stage First Round Second Round + 8 From UCL 32 16 8 4 2 Champion Third Round Eighth Finals

Tuesday, October 22, 2019

Ford Motor Company essays

Ford Motor Company essays Up until he was 40 years old, Henry Ford had been acquiring valuable knowledge about business, engines, management, and most importantly cars. In 1903 he created the Ford Motor Company. Along with other investors such as John and Horace Dodge, he raised $28,000 and produced 1,700 Model A cars in the first 15 months. Over the next 5 years Ford and his engineers produced models with the letter B through S. the most successful of these was the Model N, priced at $500, and the least successful was the Model K, priced at $2500. After the Model N it became obvious that the company's success lay in inexpensive cars for a mass market. In 1908, Ford introduced the Model T, a small four-cylinder car with an attractive design and a top speed of 45mph. It's success came from it's low price, at $850, and more than 10,000 were sold in the first year alone. Along with the Ford company's success, came expansion, and in 1910 a new assembly plant was established in Highland Park, Michigan. In 1913, the demand for the Model T increased greatly and Ford introduced the assembly line, which changed our economy forever. By the end of the year, ford had established plants in Canada, Europe, Australia, South America, and Japan. At this point, the Ford Motor Company was the largest manufacturer of cars in the world. In 1918, Henry Ford unsuccessfully ran for senate, and one year later, he named his son, Edsel Ford, the president of the Ford Motor Company. As the popularity shifted from the Model T to larger, more luxurious cars, production of the Model T was stopped, and six months later the Model A was introduced. It featured such improvements as hydraulic shock absorbers, automatic windshield wipers, a gas guage, and a speedometer. About 5 million of these were sold, compared to the Model T selling 15 million. By 1937, Ford was the only major car manufacturer which had not recognized a labor union. A group of union supporters were beaten near a Ford plant ...

Monday, October 21, 2019

The Face Of Government - Discussion Unit 8 Example

The Face Of Government The Face Of Government The Face of Government At the center of social welfare programs is a need to reduce poverty. Every key industrialized country has put in place some programs meant to transfer part of the country’s GDP to the populace in an effort to uplift the well-being of individuals on the lower side of income distribution. While these programs were meant to reduce the poverty levels, the contrary has actually happened. There are three reasons why this may be happening.To begin with, while these social welfare programs were meant for the poor, most of it actually ends up with the upper and middle classes (Crook 46). For example, more than half of tax benefits and transfer payments dispensed in 1991 ended up with individuals earning more than $30000. Secondly, social welfare programs have been known to foster reliance on the benefits rather than encourage the people to work their way out of poverty (Friedman 125). The welfare programs pay sufficient amount to keep these people alive but not to get them out of their condition.Third, if you look at the programs on the broader economic perspective, social welfare programs are known to undermine the country’s economic growth. According to the theory of equality-equity tradeoff, higher progressive taxation rates and increased government benefits lower the incentive to work or invest. This undermines the reason they came to be in the first place. Recent developments in the social security and Medicare raise doubts about the possibility of the programs being there in the next few years. Rather than use social security income, Cost of living Adjustment based on Chained CPI means eroding the Social Security Income is buying power that would be detrimental to low income earners. In addition, the proposal to extend the age at which one starts earning raises doubts about the feasibility of the programs in the future. In addition, the government’s ability to remit the Social Security and Medicare Benefits has been put to doubt by its inability to raise debt ceiling.ConclusionThe future seems very bleak for the social security and Medicare programs. Going by the current developments in the government sphere as far as these benefits are concerned, chances are they will not be there for long.Works citedFriedman, Milton. Free to Choose. New York, NY: Anchor, 1979. Print.Crook, Clive. The Future of the Medicare programs. New York: Penguin, 1997.Castles, Francis. Worlds of Welfare and Families of Nations. Denver: MacMurray, 1993. Print.

Sunday, October 20, 2019

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Authentic Paper Writing Service – Join Us and Get Assisted Now Writing analytical essays requires keenness. Otherwise, you risk going out of the topic, consequently scoring lower marks. This aspect is one of the things that our writers often observe because we care much about our clients. To ensure that you get a good grade, we often assign the best writer with enough qualification to handle your paper depending on the subject matter. Besides, we have good analytical essay topics that every client can choose from. This concept works in an event the question is open, and you are tasked with choosing your subject matter. Our service is one of the best in the online market, and we never disappoint. Many students often review us positively, thanks to our quality work. Importantly, when given a subject that requires analysis, it is feasible to read it repeatedly to understand what is required fully. 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This way, your audience will have an explicit clue on whatever you are trying to discuss throughout the paper. To practice this concept, you can choose one of the easy analytical essay topics from our website and then practice. The paragraphs that follow it are supposed to back your thesis. So, write a topic sentence that directly answers the thesis. Think about interesting topics. Also, this is where the outline of your paper will serve you well. Define well your claims, that are evidence delving much on the main topic sentence. They are divided into smaller parts, but the information must be coherent and logical. Your outline will still prove crucial at this point. Lastly, conclude well your paper. Do not create a new idea in this portion. Instead, summarize your main points as is in the body of the paper. Our Tutors Will Create an Interesting Analytical Essay Topics for You The main recipe for success in achieving a top grade analysis paper is to create an interesting topic. 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Saturday, October 19, 2019

Propeller Auxiliary Systems Essay Example | Topics and Well Written Essays - 250 words

Propeller Auxiliary Systems - Essay Example The modern anti-icing system known as deicing system is an electric propeller-icing control system that is made up of source of electricity energy, an element resistant to heating, necessary wiring and a control system. In this system, heating elements are often mounted externally or internally on the propeller blades and spinner. Through electrical leads, electric power is transferred from the aircraft system into the propeller hub and finally to the blade elements through flexible connectors. A deice control system is controlled by the pilot by use of on-off switches. There is also a master switch for all deice systems and a toggle switch for each propeller. Many deice systems may also include additional selector switch which is useful in adjusting for heavy or light icing conditions and enhance automatic switching thus do not need manual switching on-off by the pilot (Filippone, 2012). Icing control is achieved by conversion of electrical energy into heat energy within the heating element. Effective and balanced ice removal is crucial in managing excessive vibrations and is accomplished by controlling any variations in the heating current within the blade elements to ensure there is similar degree of heating on opposite sides of the propeller blades (Filippone, 2012). This type of anti-icing system is usually designed to apply power to the heating elements to remove ice after its formation and avoid excessive accumulation. In this regard, proper control of heating intervals is necessary to prevent runback. When heat supplied is just enough to melt the ice formed but insufficient to evaporate water formed, water will flow to unheated areas of the blade, forms ice and results into uncontrolled icing. Cycling timers are therefore used to energize heating elements circuits for a period between fifteen and thirty seconds (Filippone, 2012). Deicing electrical control sy stems consists of ammeters, on-off switches, current limiters and

Friday, October 18, 2019

CONSTITUTION & ADMINISTRATIVE LAW Coursework Example | Topics and Well Written Essays - 1000 words

CONSTITUTION & ADMINISTRATIVE LAW - Coursework Example He argues that they are indeed acts of necessity, which the government performs in sudden and extreme emergency, especially when it is in the public interest to do so. This essentially contradicts Dicey’s understanding of the royal prerogative. This is so considering that the power of war, which is generally, one of the significant powers of the prerogative, would anyway be an exception. The above differences in argument, therefore, call for reexamination into other theories in order to understand the significance of the royal prerogative2. In Attorney General v DE Keyser’s Royal Hotel Ltd , Lord Parmoor said that a right may be common to the rulers and the subjects; nevertheless, that does not qualifies it to be a prerogative right. Instead, he argued that Royal prerogative means a privilege in the executive that may be of an exclusive and a special character. Similarly, Blackstone concurs that the prerogative covers those actions that no person or institution other than the executive may undertake3. Among prerogatives contemplated in this explanation include the making of treaties and the deployment of armed forces. However, it is observable that the Blackstone’s argument contradicts the judicial reasoning as to what the prerogative is. To shed more light on this, an examination of the case of R v Criminal Injuries Compensation Board, Ex parte Lain will be of help. In this case, the board that was to investigate and make recommendation on the compensation to victims of violence through ex gratia payments, was appointed by the executive4. The key issue here is that the board was set up by the executive in disregarded the agreement between the Judiciary and the applicant. Clearly the prerogative act was used in doing this, arguably though, giving out money to the victims of violence is not such unique to deserve direct action of the executive. Moreover, Wade an administrative theorist agrees with the arguments of Dicey and Blackstone albeit at

Classical and Modern Rhetoric Essay Example | Topics and Well Written Essays - 2000 words

Classical and Modern Rhetoric - Essay Example Classical rhetoric can be traced back to the ancient times beginning with Homer who is thought to be the father of oratory having inspired many in the art. Athens in 510BC consisted of democratic institutions that forced citizens to engage in public service and making oratory skills necessary. This decree gave rise to the formation of an assembly of scholars called Sophists who strove to educate people in the art of speaking and make them better speakers. Protagoras one of the first sophists taught his students the method in making the weaker part of speech or discussion the stronger argument. In 5th century BC, Corax of Syracuse described rhetoric as the art of persuasion. He wrote the first book on rhetoric and is thought to be the actual originator of rhetoric as a science. Pupils of Corax such as Tisias also mastered the art of rhetoric. Others included Gorgias, Thrasymachus and Antiphon who was the first to unify the theoretical and practical aspects of rhetoric. The 4th century great orator Isocrates developed the art of rhetoric into a cultural academic work, a doctrine having practical objectives. He lectured on public speaking as a way of self improvement. He aimed to distance himself from the Sophists whom he viewed as pretending to know more than they did. He accepted oratory as an art to be learned and excelled in, but also that it relied on ones own personal inclinations and interest to progress in the field and this included persistence, practice and following role models. He opined that public speaking was of more value when the speaker talked on noble ideas and posed critical questions that made people think. This had the effect of improving the character of the speaker and audience as well as providing them food for thought. His written speeches were models for his students to emulate. He wrote no handbooks on the subject of oratory but his speeches 'Antidosis' and 'Against the Sophists' are considered to be models of oratory, influencing later orators such as Cicero and Quintilian (Corbett p.496.) Greek philosopher Plato highlighted a technical approach to rhetoric. His work titled Gorgias debated the Sophistic view that persuasion could be independent from the art of dialectic. Plato emphasised truth over persuasion and noted that audiences will not improve simply by listening to flattering and coercive statements. In Phaedrus, he explained the underlying conventions that comprised the substance of rhetorical art. He indicated the differences between true and false forms of rhetoric. He suggested that dialectic produced true form of rhetoric where logic and rational arguments with persuasive power seemed much more effective and genuine way to get the message across and sway audiences. Plato's coinage of the word 'rhetoric' was his way of criticizing the Sophists assertions about teaching virtue through persuasive oratory. Plato's student was Aristotle (384-322 BC) whose work on rhetoric continues to be a subject of study. Aristotle described the purpose of rhetoric as being rather than persuasion. It was a process of uncovering all possible means of persuasion. Greater emphasis was placed on a persuasive gathering of truth to win an argument rather than swaying audiences by rousing their emotions. Aristotle considered rhetoric as the opposite of logic or as he describes it, the antistrophe of dialectic.

Human Resources Strategies Essay Example | Topics and Well Written Essays - 1250 words

Human Resources Strategies - Essay Example Job applicants who take on-site interviews without seriously considering the prospective employer emerge to be ethically incorrect. Such candidates in most cases do not attend the interviews or written test as it is a requirement of any organization before employment (Kleiman, 2009). Ethical job applicants are prepared at all times and when unable to attend the interviews or written tests due to an important reason, they always inform their employer well in advance and ask him or her to make another arrangement if possible. Unethical job applicants who only take the on-site interviews knowing very well that they are not considering the organization a potential employer makes the organization to lose both financially and man hours in preparing interviews and written test. Job applicants who engage in unethical behaviors pose a great negative impact to the production of the organization. Such behaviors as laziness hastiness, being late for work and leaving early or not taking responsibilities of the new job seriously gives a strong negative impression to the employer. Candidates of this kind are less productive and do not perform to the standards expected by the employer. As such a conflict is likely to arise between the employer and the employee. This can often lead to organization failure in achieving its goals (Kleiman, 2009). There are job applicants who engage in unethical behavior such as bribery in order to get employed. Job recruiters when confronted by such situations may fail to make rational decision and avoid errors and this ending up in an unfair recruitment. This significantly lowers the reputation and tarnishes the name of the organization. Unethical job applicants may lead to hiring of employees and over staffing due to overoptimistic p rojections. When this projection are not met, unpleasant measures by the organization are employed in order to please the stakeholders and keep in pace with the competitors. These are measures in an attempt to cutback, restructure and downsize the organization are undertaken (Kleiman, 2009). Such an undertaking harms the future recruitment efforts of the organization, as potential employees will develop a perception of job insecurity in the particular organization. Furthermore, over staffing directly leads to underutilization of the talented recruits that leads to dissatisfaction. As such the corporate loyalty of the organization is impacted negatively. Each member of the human resource is therefore faced with the challenge of developing convincing ideas and priorities in trying to come up with the solutions to the problem. Furthermore, unethical job applicants leads to a decrease in morale among the workers in an organization. The middle class managers and those who are actually in volve in bringing the positive change to the organization become pessimistic about the possibility of sustained future change. This way, they start questioning their ability to make reasonable profit to the organization. Such a situation calls for the each member of the human resource to see into ways of totally transforming the organization. The corporate culture, knowledge base, skills level, style of leadership and team orientation would have to undergo change, for all the employees. The human each member of th