The Meaning Of Luther s Ideas Through The Eyes Of Others

The Meaning of Luther’s Ideas through the Eyes of Others Martin Luther’s religious ideas created an eclectic mix of responses dealing with social power and influence in society. Many people reinvented Luther’s ideologies to fit their wants and goals. This in turn influenced peasants to strive for social justice, the Pope to be on the defensive to maintain authority, and world leaders like Charles V to use the reaction of the Pope for personal gain. The life of the peasantry during the 16th century in Europe was to say the least unpleasant. They were impoverished, hungry, and oppressed. So, when Martin Luther started the Protestant Reformation with ideas like â€Å"A Christian is a perfectly free lord of all, subject to none. A Christian is a†¦show more content†¦This quote emphasizes the idea of freedom for all Christians and the fact that their oppression is not coming from the work of God also known as scripture. Instead, it is coming from greedy peop le who are taking advantage of others. These people are not embracing God’s truths according to the peasantry. As well as the general oppression the peasantry faced while being considered second class citizens, they were forced to pay more taxes due to their social status. For example, when we look at this next quote we see the peasantry complaining about the unjust land taxes they are forced to pay. â€Å"Provision should also be made from this surplus to avoid laying any land tax on the poor. In case one or more villages themselves have sold their tithes on account of want, and each village has taken action as a whole, the buyer should not suffer loss, but we will that some proper agreement be reached with him for the repayment of the sum by the village with due interest. But those who have tithes which they have not purchased from a village, but which were appropriated by their ancestors, should not, and ought not, to be paid anything further by the village which shall apply its tithes to

News Summaries Free Essays

A July 9 online article from dallasnews. com, entitled Top 10 personal finance mistakes, provides a prime example of one form of learning: lesson by failure. The article discusses ten common pitfalls when individuals are addressing their own financial tasks. We will write a custom essay sample on News Summaries or any similar topic only for you Order Now By shining a spotlight on these mistakes, the article reinforces principles in Chapter 22—namely, the essential need for solid personal financial planning. Each ‘mistake’ receives a few paragraphs of attention, and the information holds more value because the author also pinpoints expert tips that can lessen the impact and occurrence of each problem. The first two discussed mistakes, for example, address the scarcity of people who develop a logical and flexible statement of goals. Too often, as the article elaborates, individuals make financial decisions based on emotion rather than factual information. In addition, those who do develop goals and plans are many times reluctant to ‘stray the course’ from initial goals. However, experts advise that adaptability and structure can strengthen financial prospects for any individual, regardless of economic standing. Budgeting, in particular, is an important skill to develop in matters of finance. Debt and savings comprise the next part of the discussion. According to the article, a surplus of people sink into credit card debt that may only be eradicated through years of payments. Prompt, maximum-level monthly payments can ease these burdens, say the experts. Debt accumulation is symptomatic of another financial planning problem mentioned in the article: savings, or the lack thereof. A depletion of saved income can negatively impact both short-term and long-term financial goals. One remedy the interviewed experts recommend involves the creation of an emergency savings fund (used in case of unexpected expenses). Such a fund would be bolstered by a set amount of money from each employee paycheck. Finally, the article concludes with warnings involving two other important aspects of personal finance, employee benefits and stock investment. The author argues for 401(K) plans, life insurance, and reasonable investing, respectively. Each of these subjects—if handled improperly—holds the potential for catastrophic financial consequences. 401(K)s can help ensure an individual has a secure retirement nest egg (alleviating at least one burden for the elderly); life insurance in turn ensures a family’s security, and minimal stock investing will help prevent an abolishment of personal savings. How to cite News Summaries, Papers

SWOT Analysis of Ryanair Essay Example

SWOT Analysis of Ryanair Essay It further evaluates alternative solutions and provides recommendation, which will help the firm to compete and dominate in the European airline Industry in terms of providing more standard services to its clients and can be the number one airline industry in the region. 1. INTRODUCTION Ryanair, set up in 1985 by the Ryan family with a share capital of just ? 1and 25 staffs has grown from a small airline flying a short hop from Waterford to London, into one of Europes largest carriers. It is Europe? s largest low-cost carrier and one of the world? largest and most successful airlines in terms of profits, number of flights and number of passengers flown. We will write a custom essay sample on SWOT Analysis of Ryanair specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on SWOT Analysis of Ryanair specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on SWOT Analysis of Ryanair specifically for you FOR ONLY $16.38 $13.9/page Hire Writer At present, Ryanair has 32 bases and 800+ low fare routes across 26 countries, connecting 146 destinations, employing a team of more than 6,000 people Michael O? Leary CEO of Ryanair was responsible for launching the first unique low fares, „no-frills? airlines in Europe. Michael O? Leary known for his aggressive management style, employed a flat management hierarchy and vigorously followed the low cost policy, on all fronts. Ryanair is also one of Europe? most controversial companies, praised and criticized in equal measure; praised for its commitment to low fares, radical management, and its willingness to challenge the „establishment? within the airline industry and criticized for its trade union policies, hidden taxes and fees, and limited customer services, and misleading advertising. Ryanair in order to make its stand in the competitive market they have to think of a business strategy to capture the targeted market through enhancing the company? s internal scarce re sources and capabilities. First part of the assignment states the critical analysis and evaluation of the key Issues in Ryanair focusing on Decision making, Planning, Organising and Controlling. Accordingly, problems challenges and opportunities have been identified through SWOT and PEST analysis. Alternative solutions have been evaluated in various forms one through the financial analysis of the company. The analysis and evaluations finally assist in prioritising recommendations for the future growth and welfare of the company. 2. Critical Analysis and evaluation of the Key Issues : Ryanair 2. Decision making The Ryanair culture gives us the indication that the company is solely depended on one person who is making the risky decision and putting everyone at stake. Ryanair CEO declared in 2003 that they shall swing from no frills airline to no fare airline but with the motive that the company introduced cost cutting and revenue generation modification to compensate the falls in the yields. The Ryanair? s CEO seems to be very dominating by making every decision of the company without involving the concerned departments. Ryanair has the concoction of Bounded rationality and intuition decision making, verdict were conceded in Ryanair mostly through intuition and overriding behavior of their CEO. According to (Robbins. S, Bergmen. R, Stagg. I, Coutler. M, 2006) â€Å"Intuition decision making is a subconscious process of making decisions on the basis of experience and accumulated judgment. † 2. 2 Planning Ryanair? s objective of â€Å" being the leading no frills airline in Europe† was achieved through a proper planning, concentrating on driving down costs to sustain low fares and remain profitable, even on low yields. Ryanair planned and implemented cost reduction strategies focusing on the following areas: Cost reduction Planning: 1. Fleet commonality 2. Contracting out services 3. Airport charges and route policy 4. Staff Cost and productivity 5. Marketing cost Other Planning Issues: In spite of the cost deduction planning, Ryanair also has designed other plans to maximize its profit and expand the market share of the company. On 1st February 2003, Ryanair announced that it was acquiring Buzz, the loss making budget subsidiary of KLM, based at Stansted. Ryanair purchased the loss making company Buzz, as it was a golden opportunity to pick up a ready- made bundle of take -off and landing slots at Stansted Airport, where there is intensifying competition for space. This would not only increase Ryanair? s share of slots in Stansted from 33 to 49. 5 per cent but also produce profit by the fiscal year end of March 2004. Ryanair also aimed to increase its sales through ancillary services in conjunction with its core airline business, because ancillary revenues would increasingly be used to subsidise falling airfares. The ancillary services -includes the availability of satellite television and internet services on flights, allowing passengers to watch their favorite television programmes. The company also undertook activities like sale of travel insurance, car rentals and many other advertisement activities. All in all, Ryanair had a good operational and long term planning. These plans were implemented carefully over the years to achieve its objective of â€Å" being the leading no frills airline in Europe† . The plans reduced the uncertainty of achieving the objective of the company, provided direction, minimized wastes and have set a standard for controlling. However, since the plan was designed by the top management of the company, it was very rigid and did not provide any space for the other stakeholders to provide intuition and creativity ideas for the business. 2. 3 Organising: According to Robbins et al. 2006, â€Å"Organisational structure is the formal framework by which job tasks are divided, grouped and coordinated. † Ryanair is observed to implement common traditional organizational designs. The organization is designed with low departments, as the aircraft handling, ticketing, baggage handling and other functions to third parties in all the airports other than Dublin airport, where it maintains its own staff and services are outsourced. The company organized this kind of a system, to limit the direct exposure to employee relations responsibilities and potential dispute. Ryanair has also organized to carry out the routine maintenance, repair services and checks on aircraft by their own engineering staff, while engine and heavy maintenance are contracted out to third parties. This organization was necessary for the company, since it was cheaper for the company to outsource to third parties rather than employing dedicated employees for the company. The control and authority of the organization is centralized in one person i. e. Michael O? Leary, the CEO of the company. The organizational structure have the advantages of wide span of control, fast and inexpensive to maintain, however as the organizational grows and expands its market, it is not appropriate and reliance on one person makes it very risky for the company. 2. Controlling Ryanair have outsourced the engine and heavy maintenance as a contract work, however the work is carried out under the supervision and planning of Ryanair engineering staff, enabling the company to retain control of quality and safety. This is a feed forward control as it prevents anticipated problems in the future (Robbins et. Al. 2006). Ryanair also have the control over the market of airlines business. Ryanair is the market leader and every airline follows the company in setting out their ticket prices, commission of the agents and other related costs. The company also have a good control over the financial position of the business, in the sense that the liquidity position, leverage, profitability ratios are maintained at a balance level. In a nut shell, the company has checked and balanced over all the activities in the company. It has a good control system implemented from the maintenance of aircraft machine to the lowest level of managing human resources. However, control measures should be implemented in attracting and retaining the existing market share of the company. 3. SWOT analysis STRENGTH Low cost airline Performance related pay structure Aggressive and innovative leadership (Michael O? Leary) Low maintenance cost Punctuality of flights Fleet commonality User friendly website for online booking Passenger charter Minimum baggage loss Major earnings from ancillary services WEAKNESS Growth addict Weak customer service Central decision making Poor affiliation with employees Falling profit yield Multiple fines by the authorities Only in EU market Earns publicity through negative press reporting. Old aircraft. Low employee morale. High turnarounds resulting in maximum Misleading information about ticket fares and aircraft utilization Reduced commission to travel agents Out sourcing Lowest labor cost due to non-unionized labor force Highest seat density destinations. OPPURTUNITY THREAT Expansion of the routes to other parts of the Competitors world Improve facilities in air From low fare airline to no fare airline Fly to central located airports Enhancing their ancillary services War, disease outbreaks Currency fluctuation Formation of union by pilots Hike in oil prices Slack customers due to poor customer service. Other modes of transportation . 1 STRENGTH Ryanair being known as the Europe? s first low cost, no frill airline is the company? s strongest positive feature. The low cost no frills policy resulted to the speedy increase of customers and development of their operation. The CEO of Ryanair, Michael O? Leary portrays a major strength to the company; his aggressive and innovative leadership proves to sta nd Ryanair at the position where it stands now. One of the largest factor acting as a positive force for Ryanair is the firm? s direction towards out sourcing certain service activities within the firm, such as maintenance and repair service. This pace might help the firm to focus on sustaining improvement with on-payroll staff and enhance customer service. Rynair? s performance related pay structure acts as a motivation for the staff and as a company it will stand out in terms of providing excellence in total organizational performance. The variety of ancillary services offered by Ryanair was the greatest source of revenue generator for the firm. According to the graph below it indicates that due to its low fare super brand passenger number grew every year, which made Mr. O? Leary conclude that† low fare always wins†. (Centre for Asian Pacific Aviation, 2009) (Ryanair passenger number growth and load factor growth: FY06 to FY09) 3. 2 WEAKNESS: Ryanair has transformed itself from an undersized industry into one of Europe? s biggest Airlines over times. However its obsessive focus on the growth and only growth has dented its public image. Its negative public image is contributed both by its aggressive CEO and unfriendly staffs. One major problem lies in the handling of customers or target market. It provides poor inflight services to the passengers further more it has misleading websites thus creating a negative impression to the airline brand. Customers are unhappy with Ryaniar because of it poor customer service the only source of attraction for them is the low fare. Old aircrafts are a major concern to think of, as it wasted lots of fuel and needed high maintenance cost especially when the currency fluctuation takes place. The firm faces a lot of unsolved issues due to lack of strategic decision making in several areas concerned with the welfare of the firm. The CEO of Ryanair Michael O? Leary is the central decision maker of the firm, this stands as a weakness as the firm has to rely fully on one person whether right or wrong. 3. 3 OPPORTUNITY: Every firm has its own set of strength and weaknesses, but to make good grasp of the bigger opportunities will further take part in the firm? s enrichment. Ryanair still has the opportunity of competing and dominating in the European airline Industry in terms of providing more standard services to its clients and can be the number one airline industry in the region. Customer ratio can increase if Ryanair can establish the latest trends in Airline management and marketing to meet the demands of their market. Additional initiatives can be taken to diversify its ancillary services which are a revenue resource and open new opportunities to make the business stronger to outstand all its rival competitors. Since Americans have allowed European Airlines to enter USA in the domestic market, as such Ryanair without doubt will be in the leading position as it will be the first carrier to fly low cost to the States. Expansion of operation to the non-EU market can stand as an excellent opportunity for the firm. 3. 4 THREAT Competition, market uncertainty and changing customer crave appears to be the largest threat in the emerging market scenario. Ryanair is continuously faced with inevitable threat of stiff competition and for it to survive in the global competition it has to develop new products with better standard than its competitors. Expansion of operation to other areas like the non-EU markets means that the firm has to adjust to the political issues and trade policies of that region. The demands of the customers are highlighted to be a challenge to the management, consumer behavior and satisfaction with regard to the product and services is also a risk. If the firm continued concentrating on money making and paid no heed to customer satisfaction, the company may fail in terms of management ability. Advancement in the technology world can tend to be a threat in the airline business, hence the company should be able to provide more distinct and advanced technological services to be able to build a place in the competitive airline industry. 4. PEST Analysis POLITICAL Accusation of Misleading advertisement Taxation rules Route charges increased by govt. Union policy EU expansion EU abolishment of Duty free sales ECONOMIC The fuel price fluctuation Currency fluctuation Increase growth rate in GDP Compensation to travelers SOCIAL Terrorism, war outbreak Flight hijack Public image of airline Customer demographic TECHNOLOGY New Boeing flights Proper website Different modes of travel The four factors (Political, Economic, Social and Technology) that play a major role in the future of the airline industry have been focused as above. These external forces have direct impact on the strategic direction at Ryanair. As Ryanair is being operated only within the EU market it can be a relative advantage to the company regarding the external Political environment as this locality maintains political stability. The only concerns on the political environment are the changing taxation rules, union policy and route charges imposed by the government. Nevertheless, on the outside of the European place of the market, the society supports economic significant difficulties put by the political forces as OPEC, the organization responsible for the petroleum production in Middle East. As majority of international revenues in the regions of Middle East comes from oil and from petroleum production / distribution, Ryanair and other business entities have no escape from it. The situation becomes worse when exchange rate fluctuation takes place. (strategic case analysis, 2005) The social environment which is completely uncontrollable can be classified as the changing consumer preferences and demographics. The consumer behavior are the most unpredictable behavior in the business scenario as their preference tend to differ from one product to another due to price differences or even lack of basic consumer reliability. From the financial statements of the company, it is observed that the company is doing well in updating the technologies over the time. It is observed that, the company can afford to purchase new jets to remain competitive in the market. Supply chain software programmes, online ticketing service for customers and other technologies were used by the company for improving the efficiencies and cutting down the cost of the services. The technological environment does not have much of an impact on the organization as of now. (Higgins. E, Ryanair, 2005) To sum up, the external environment of the business is stable compared with many other businesses that are taking place globally. The political, economic, social and technology factors are steady and easing the business to expand, however if these conditions changes in the future, there might be a huge impact on the profitability and market expansion of the business. (Strategic case analysis, 2005) 5. Financial Analysis Objective Discription Formula 2003 (E 000) 2. 9532 2. 8928 50% Liquidity test Current ratio Acid ratio Current assets/ current liabilities Current assets-inventories/current liabilities Total debt/total assets Leverage test Debt to asset Operations test Inventory turnover Total asset turnover Profitabililty Sales/Inventory Sales/total assets 4% 0% 28% 0% Profit margin on sales Net profit after taxes/Total sales Return on investment Net profit after taxes/total assets The above table shows the ratio analysis of Ryanair from the income statement of the company for the year 2003 and the balance sheet as on 31st December 2003 of the said company. From the above table it is observed that, the company is liquid enough to pay its short term liabilities from its current assets. Ryanair has E 2. 95 of current assets for the payment of E 1 of its short term liabilities. The firm is very liquid and creditors of the company will be willing to give more flexible credit terms to the company. Ryanair has a balanced leverage. In other words the company made investment on the assets by 50% debt and 50% equity. The risk and returns of the company is also balanced. The profit margin on sales is 28%. The company has a good profit margin and an increase in sales with proportionate increase in expenses will help the company to grow and expand faster. The return on investment is almost nil. The company should put in effort to utilize their assets efficiently, so that the returns from the investment can increase over the period. Overall, Ryanair has a good liquidity and leverage ratio. The company should utilize these strengths for expansion and growth of the company. However, the operations and profitability ratio are not really leading the company in the right direction. The management should focus on improving the returns from the investment ratio. (Higgins et al, 2005) 6. Critically evaluate alternative solutions: From the above SWOT, PEST and Financial analysis on Ryanair, the following alternative solutions are obtained to overcome the threats and issues of the business in the near future. Market Expansion Ryanair should diversify their services to other parts of the world as these expansions will boost the sales of the company. Ryanair is one of the economical airlines around the world and it has ample of opportunities for business diversification in other markets. Expansion of operation to the non-EU market can stand as an excellent opportunity for the firm. Introduction of unique value added services Ryanair has the opportunity of competing and dominating the European airlines industry in terms of providing standard services to the client and can be the number one airlines company in the region. Ryanair should outsource in providing unique value added services to their clients which are not provided by the other airlines at a budgeted cost. For example, a shuttle bus service can be introduced to carry their passengers from the airport -city and from city – airport at a minimum cost. These kinds of services will help the company in increasing their sales with a minimum increase in cost. Marketing research on airport selection strategy As of now, Ryanair uses the strategy of choosing secondary and regional airport destination and avoiding the congested main airports mainly to cut the cost on airport charges and utilize the time efficiently. A good marketing research and an analysis should be made on comparing the costs and benefits of current strategy and using the main airports in the city. If the report of the research finds out that, it is more beneficial for the company to use the main airports rather than he current strategy, it is advisable for the company to change their strategy and run few experiments with the new one. Marketing and advertisement Ryanair advertises primarily on its website, in newspapers and on radio and television. More advertisements should be made off course within the budget focusing the target market of the company. Product packaging , which consists of air ticket, travel insurance, hotel reservation, car rental and other services, should be designed differently for different groups of customers. This will serve as a one stop shop, which will promote the business as well increase the profitability of the company. Mergers and Acquisitions Mergers and acquisitions is one of the important strategies with big companies. Ryanair should merge or acquire with other businesses in order to improve its capabilities and acquire more competitive advantages. Human resource management In a fast changing world, where technologies and other strategies can be copied, it is the human resource that can bring a competitive advantage. The company does not seem to value its employees and belief in the competitive advantage and importance of their people in the competitive world. Ryanair should initiate steps in improving and valuing their people and frame strategies for gaining competitive advantage over their competitors. 7. Recommendations: Based on the analytical issues it can be recommended that Ryanair can merge with other companies as it can be a brilliant strategy for the growth and success of the company. In case of Ryanair it? s been noticed that the company does not value its staffs. Since, the staffs of the company are considered as one source of sustainable competitive advantage, first and foremost the company needs to priorities its Human Resource Management. Ryanair need to be more goal oriented and must not stop to review and change their marketing plan strategies frequently in order to re-originate the performance process upon the upgrading of rules and regulations imposed by the state. Ryanair is to overcome the lack of product differentiation and enhance it that will have the ability to revive revenue generation. Ryanair has land marked in the area of punctuality however the perception of good customer service has always been poor and more hived up by press. With this in mind Ryanair, while maintaining its strict rules and regulations, must make an adjustment in this area. 8. References Annual Report. (2008). „Ryanair Annual Report and Financial Statements 2008?. Retrieved August 6, 2009, http://www. ryanair. com/ Air scope, May 2007, Bird? s eye view, retrieved on 2009, http://www. air-scope. com/ Box, Thomas M, Byus, Kent, Business Publications, 2007, Ryanair (2005) Successful Low Cost leadership viewed August 6 ,2009, http://ivythesis. typepad. com Dian Ratnasari, RyanAir case, read on August 6, 2009, http:// www. cribd. com/ Eleanor R. E O? Higgins, Case Study: Ryanair, 2004 Eleanor R. E O? Higgins, ECCH Collection, Case Study: Ryanair ; Low fare airline, 1999, viewed August 8, 2009 Eoin S. O? Cuilleanain, Gonzague della Falle, Felix Sobotka, Alexander Kleinert, Solvay Business School, April 2004, Ryanair Plc, viewed on August 6, 2009 Robbins. S, Bergman. R, Stagg. I, Coutler. M, ‘Management,? 4th Edition, 2006 Ryanair 20 09, retrieved on August 6, 2009, http:// www. scribd. com Strategic Case Analysis: Ryanair, 2005 retrieved on August 6, 2009 SWOT Analysis of Ryanair Essay Example SWOT Analysis of Ryanair Essay It further evaluates alternative solutions and provides recommendation, which will help the firm to compete and dominate in the European airline Industry in terms of providing more standard services to its clients and can be the number one airline industry in the region. 1. INTRODUCTION Ryanair, set up in 1985 by the Ryan family with a share capital of just ? 1and 25 staffs has grown from a small airline flying a short hop from Waterford to London, into one of Europes largest carriers. It is Europe? s largest low-cost carrier and one of the world? largest and most successful airlines in terms of profits, number of flights and number of passengers flown. We will write a custom essay sample on SWOT Analysis of Ryanair specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on SWOT Analysis of Ryanair specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on SWOT Analysis of Ryanair specifically for you FOR ONLY $16.38 $13.9/page Hire Writer At present, Ryanair has 32 bases and 800+ low fare routes across 26 countries, connecting 146 destinations, employing a team of more than 6,000 people Michael O? Leary CEO of Ryanair was responsible for launching the first unique low fares, „no-frills? airlines in Europe. Michael O? Leary known for his aggressive management style, employed a flat management hierarchy and vigorously followed the low cost policy, on all fronts. Ryanair is also one of Europe? most controversial companies, praised and criticized in equal measure; praised for its commitment to low fares, radical management, and its willingness to challenge the „establishment? within the airline industry and criticized for its trade union policies, hidden taxes and fees, and limited customer services, and misleading advertising. Ryanair in order to make its stand in the competitive market they have to think of a business strategy to capture the targeted market through enhancing the company? s internal scarce re sources and capabilities. First part of the assignment states the critical analysis and evaluation of the key Issues in Ryanair focusing on Decision making, Planning, Organising and Controlling. Accordingly, problems challenges and opportunities have been identified through SWOT and PEST analysis. Alternative solutions have been evaluated in various forms one through the financial analysis of the company. The analysis and evaluations finally assist in prioritising recommendations for the future growth and welfare of the company. 2. Critical Analysis and evaluation of the Key Issues : Ryanair 2. Decision making The Ryanair culture gives us the indication that the company is solely depended on one person who is making the risky decision and putting everyone at stake. Ryanair CEO declared in 2003 that they shall swing from no frills airline to no fare airline but with the motive that the company introduced cost cutting and revenue generation modification to compensate the falls in the yields. The Ryanair? s CEO seems to be very dominating by making every decision of the company without involving the concerned departments. Ryanair has the concoction of Bounded rationality and intuition decision making, verdict were conceded in Ryanair mostly through intuition and overriding behavior of their CEO. According to (Robbins. S, Bergmen. R, Stagg. I, Coutler. M, 2006) â€Å"Intuition decision making is a subconscious process of making decisions on the basis of experience and accumulated judgment. † 2. 2 Planning Ryanair? s objective of â€Å" being the leading no frills airline in Europe† was achieved through a proper planning, concentrating on driving down costs to sustain low fares and remain profitable, even on low yields. Ryanair planned and implemented cost reduction strategies focusing on the following areas: Cost reduction Planning: 1. Fleet commonality 2. Contracting out services 3. Airport charges and route policy 4. Staff Cost and productivity 5. Marketing cost Other Planning Issues: In spite of the cost deduction planning, Ryanair also has designed other plans to maximize its profit and expand the market share of the company. On 1st February 2003, Ryanair announced that it was acquiring Buzz, the loss making budget subsidiary of KLM, based at Stansted. Ryanair purchased the loss making company Buzz, as it was a golden opportunity to pick up a ready- made bundle of take -off and landing slots at Stansted Airport, where there is intensifying competition for space. This would not only increase Ryanair? s share of slots in Stansted from 33 to 49. 5 per cent but also produce profit by the fiscal year end of March 2004. Ryanair also aimed to increase its sales through ancillary services in conjunction with its core airline business, because ancillary revenues would increasingly be used to subsidise falling airfares. The ancillary services -includes the availability of satellite television and internet services on flights, allowing passengers to watch their favorite television programmes. The company also undertook activities like sale of travel insurance, car rentals and many other advertisement activities. All in all, Ryanair had a good operational and long term planning. These plans were implemented carefully over the years to achieve its objective of â€Å" being the leading no frills airline in Europe† . The plans reduced the uncertainty of achieving the objective of the company, provided direction, minimized wastes and have set a standard for controlling. However, since the plan was designed by the top management of the company, it was very rigid and did not provide any space for the other stakeholders to provide intuition and creativity ideas for the business. 2. 3 Organising: According to Robbins et al. 2006, â€Å"Organisational structure is the formal framework by which job tasks are divided, grouped and coordinated. † Ryanair is observed to implement common traditional organizational designs. The organization is designed with low departments, as the aircraft handling, ticketing, baggage handling and other functions to third parties in all the airports other than Dublin airport, where it maintains its own staff and services are outsourced. The company organized this kind of a system, to limit the direct exposure to employee relations responsibilities and potential dispute. Ryanair has also organized to carry out the routine maintenance, repair services and checks on aircraft by their own engineering staff, while engine and heavy maintenance are contracted out to third parties. This organization was necessary for the company, since it was cheaper for the company to outsource to third parties rather than employing dedicated employees for the company. The control and authority of the organization is centralized in one person i. e. Michael O? Leary, the CEO of the company. The organizational structure have the advantages of wide span of control, fast and inexpensive to maintain, however as the organizational grows and expands its market, it is not appropriate and reliance on one person makes it very risky for the company. 2. Controlling Ryanair have outsourced the engine and heavy maintenance as a contract work, however the work is carried out under the supervision and planning of Ryanair engineering staff, enabling the company to retain control of quality and safety. This is a feed forward control as it prevents anticipated problems in the future (Robbins et. Al. 2006). Ryanair also have the control over the market of airlines business. Ryanair is the market leader and every airline follows the company in setting out their ticket prices, commission of the agents and other related costs. The company also have a good control over the financial position of the business, in the sense that the liquidity position, leverage, profitability ratios are maintained at a balance level. In a nut shell, the company has checked and balanced over all the activities in the company. It has a good control system implemented from the maintenance of aircraft machine to the lowest level of managing human resources. However, control measures should be implemented in attracting and retaining the existing market share of the company. 3. SWOT analysis STRENGTH Low cost airline Performance related pay structure Aggressive and innovative leadership (Michael O? Leary) Low maintenance cost Punctuality of flights Fleet commonality User friendly website for online booking Passenger charter Minimum baggage loss Major earnings from ancillary services WEAKNESS Growth addict Weak customer service Central decision making Poor affiliation with employees Falling profit yield Multiple fines by the authorities Only in EU market Earns publicity through negative press reporting. Old aircraft. Low employee morale. High turnarounds resulting in maximum Misleading information about ticket fares and aircraft utilization Reduced commission to travel agents Out sourcing Lowest labor cost due to non-unionized labor force Highest seat density destinations. OPPURTUNITY THREAT Expansion of the routes to other parts of the Competitors world Improve facilities in air From low fare airline to no fare airline Fly to central located airports Enhancing their ancillary services War, disease outbreaks Currency fluctuation Formation of union by pilots Hike in oil prices Slack customers due to poor customer service. Other modes of transportation . 1 STRENGTH Ryanair being known as the Europe? s first low cost, no frill airline is the company? s strongest positive feature. The low cost no frills policy resulted to the speedy increase of customers and development of their operation. The CEO of Ryanair, Michael O? Leary portrays a major strength to the company; his aggressive and innovative leadership proves to sta nd Ryanair at the position where it stands now. One of the largest factor acting as a positive force for Ryanair is the firm? s direction towards out sourcing certain service activities within the firm, such as maintenance and repair service. This pace might help the firm to focus on sustaining improvement with on-payroll staff and enhance customer service. Rynair? s performance related pay structure acts as a motivation for the staff and as a company it will stand out in terms of providing excellence in total organizational performance. The variety of ancillary services offered by Ryanair was the greatest source of revenue generator for the firm. According to the graph below it indicates that due to its low fare super brand passenger number grew every year, which made Mr. O? Leary conclude that† low fare always wins†. (Centre for Asian Pacific Aviation, 2009) (Ryanair passenger number growth and load factor growth: FY06 to FY09) 3. 2 WEAKNESS: Ryanair has transformed itself from an undersized industry into one of Europe? s biggest Airlines over times. However its obsessive focus on the growth and only growth has dented its public image. Its negative public image is contributed both by its aggressive CEO and unfriendly staffs. One major problem lies in the handling of customers or target market. It provides poor inflight services to the passengers further more it has misleading websites thus creating a negative impression to the airline brand. Customers are unhappy with Ryaniar because of it poor customer service the only source of attraction for them is the low fare. Old aircrafts are a major concern to think of, as it wasted lots of fuel and needed high maintenance cost especially when the currency fluctuation takes place. The firm faces a lot of unsolved issues due to lack of strategic decision making in several areas concerned with the welfare of the firm. The CEO of Ryanair Michael O? Leary is the central decision maker of the firm, this stands as a weakness as the firm has to rely fully on one person whether right or wrong. 3. 3 OPPORTUNITY: Every firm has its own set of strength and weaknesses, but to make good grasp of the bigger opportunities will further take part in the firm? s enrichment. Ryanair still has the opportunity of competing and dominating in the European airline Industry in terms of providing more standard services to its clients and can be the number one airline industry in the region. Customer ratio can increase if Ryanair can establish the latest trends in Airline management and marketing to meet the demands of their market. Additional initiatives can be taken to diversify its ancillary services which are a revenue resource and open new opportunities to make the business stronger to outstand all its rival competitors. Since Americans have allowed European Airlines to enter USA in the domestic market, as such Ryanair without doubt will be in the leading position as it will be the first carrier to fly low cost to the States. Expansion of operation to the non-EU market can stand as an excellent opportunity for the firm. 3. 4 THREAT Competition, market uncertainty and changing customer crave appears to be the largest threat in the emerging market scenario. Ryanair is continuously faced with inevitable threat of stiff competition and for it to survive in the global competition it has to develop new products with better standard than its competitors. Expansion of operation to other areas like the non-EU markets means that the firm has to adjust to the political issues and trade policies of that region. The demands of the customers are highlighted to be a challenge to the management, consumer behavior and satisfaction with regard to the product and services is also a risk. If the firm continued concentrating on money making and paid no heed to customer satisfaction, the company may fail in terms of management ability. Advancement in the technology world can tend to be a threat in the airline business, hence the company should be able to provide more distinct and advanced technological services to be able to build a place in the competitive airline industry. 4. PEST Analysis POLITICAL Accusation of Misleading advertisement Taxation rules Route charges increased by govt. Union policy EU expansion EU abolishment of Duty free sales ECONOMIC The fuel price fluctuation Currency fluctuation Increase growth rate in GDP Compensation to travelers SOCIAL Terrorism, war outbreak Flight hijack Public image of airline Customer demographic TECHNOLOGY New Boeing flights Proper website Different modes of travel The four factors (Political, Economic, Social and Technology) that play a major role in the future of the airline industry have been focused as above. These external forces have direct impact on the strategic direction at Ryanair. As Ryanair is being operated only within the EU market it can be a relative advantage to the company regarding the external Political environment as this locality maintains political stability. The only concerns on the political environment are the changing taxation rules, union policy and route charges imposed by the government. Nevertheless, on the outside of the European place of the market, the society supports economic significant difficulties put by the political forces as OPEC, the organization responsible for the petroleum production in Middle East. As majority of international revenues in the regions of Middle East comes from oil and from petroleum production / distribution, Ryanair and other business entities have no escape from it. The situation becomes worse when exchange rate fluctuation takes place. (strategic case analysis, 2005) The social environment which is completely uncontrollable can be classified as the changing consumer preferences and demographics. The consumer behavior are the most unpredictable behavior in the business scenario as their preference tend to differ from one product to another due to price differences or even lack of basic consumer reliability. From the financial statements of the company, it is observed that the company is doing well in updating the technologies over the time. It is observed that, the company can afford to purchase new jets to remain competitive in the market. Supply chain software programmes, online ticketing service for customers and other technologies were used by the company for improving the efficiencies and cutting down the cost of the services. The technological environment does not have much of an impact on the organization as of now. (Higgins. E, Ryanair, 2005) To sum up, the external environment of the business is stable compared with many other businesses that are taking place globally. The political, economic, social and technology factors are steady and easing the business to expand, however if these conditions changes in the future, there might be a huge impact on the profitability and market expansion of the business. (Strategic case analysis, 2005) 5. Financial Analysis Objective Discription Formula 2003 (E 000) 2. 9532 2. 8928 50% Liquidity test Current ratio Acid ratio Current assets/ current liabilities Current assets-inventories/current liabilities Total debt/total assets Leverage test Debt to asset Operations test Inventory turnover Total asset turnover Profitabililty Sales/Inventory Sales/total assets 4% 0% 28% 0% Profit margin on sales Net profit after taxes/Total sales Return on investment Net profit after taxes/total assets The above table shows the ratio analysis of Ryanair from the income statement of the company for the year 2003 and the balance sheet as on 31st December 2003 of the said company. From the above table it is observed that, the company is liquid enough to pay its short term liabilities from its current assets. Ryanair has E 2. 95 of current assets for the payment of E 1 of its short term liabilities. The firm is very liquid and creditors of the company will be willing to give more flexible credit terms to the company. Ryanair has a balanced leverage. In other words the company made investment on the assets by 50% debt and 50% equity. The risk and returns of the company is also balanced. The profit margin on sales is 28%. The company has a good profit margin and an increase in sales with proportionate increase in expenses will help the company to grow and expand faster. The return on investment is almost nil. The company should put in effort to utilize their assets efficiently, so that the returns from the investment can increase over the period. Overall, Ryanair has a good liquidity and leverage ratio. The company should utilize these strengths for expansion and growth of the company. However, the operations and profitability ratio are not really leading the company in the right direction. The management should focus on improving the returns from the investment ratio. (Higgins et al, 2005) 6. Critically evaluate alternative solutions: From the above SWOT, PEST and Financial analysis on Ryanair, the following alternative solutions are obtained to overcome the threats and issues of the business in the near future. Market Expansion Ryanair should diversify their services to other parts of the world as these expansions will boost the sales of the company. Ryanair is one of the economical airlines around the world and it has ample of opportunities for business diversification in other markets. Expansion of operation to the non-EU market can stand as an excellent opportunity for the firm. Introduction of unique value added services Ryanair has the opportunity of competing and dominating the European airlines industry in terms of providing standard services to the client and can be the number one airlines company in the region. Ryanair should outsource in providing unique value added services to their clients which are not provided by the other airlines at a budgeted cost. For example, a shuttle bus service can be introduced to carry their passengers from the airport -city and from city – airport at a minimum cost. These kinds of services will help the company in increasing their sales with a minimum increase in cost. Marketing research on airport selection strategy As of now, Ryanair uses the strategy of choosing secondary and regional airport destination and avoiding the congested main airports mainly to cut the cost on airport charges and utilize the time efficiently. A good marketing research and an analysis should be made on comparing the costs and benefits of current strategy and using the main airports in the city. If the report of the research finds out that, it is more beneficial for the company to use the main airports rather than he current strategy, it is advisable for the company to change their strategy and run few experiments with the new one. Marketing and advertisement Ryanair advertises primarily on its website, in newspapers and on radio and television. More advertisements should be made off course within the budget focusing the target market of the company. Product packaging , which consists of air ticket, travel insurance, hotel reservation, car rental and other services, should be designed differently for different groups of customers. This will serve as a one stop shop, which will promote the business as well increase the profitability of the company. Mergers and Acquisitions Mergers and acquisitions is one of the important strategies with big companies. Ryanair should merge or acquire with other businesses in order to improve its capabilities and acquire more competitive advantages. Human resource management In a fast changing world, where technologies and other strategies can be copied, it is the human resource that can bring a competitive advantage. The company does not seem to value its employees and belief in the competitive advantage and importance of their people in the competitive world. Ryanair should initiate steps in improving and valuing their people and frame strategies for gaining competitive advantage over their competitors. 7. Recommendations: Based on the analytical issues it can be recommended that Ryanair can merge with other companies as it can be a brilliant strategy for the growth and success of the company. In case of Ryanair it? s been noticed that the company does not value its staffs. Since, the staffs of the company are considered as one source of sustainable competitive advantage, first and foremost the company needs to priorities its Human Resource Management. Ryanair need to be more goal oriented and must not stop to review and change their marketing plan strategies frequently in order to re-originate the performance process upon the upgrading of rules and regulations imposed by the state. Ryanair is to overcome the lack of product differentiation and enhance it that will have the ability to revive revenue generation. Ryanair has land marked in the area of punctuality however the perception of good customer service has always been poor and more hived up by press. With this in mind Ryanair, while maintaining its strict rules and regulations, must make an adjustment in this area. 8. References Annual Report. (2008). „Ryanair Annual Report and Financial Statements 2008?. Retrieved August 6, 2009, http://www. ryanair. com/ Air scope, May 2007, Bird? s eye view, retrieved on 2009, http://www. air-scope. com/ Box, Thomas M, Byus, Kent, Business Publications, 2007, Ryanair (2005) Successful Low Cost leadership viewed August 6 ,2009, http://ivythesis. typepad. com Dian Ratnasari, RyanAir case, read on August 6, 2009, http:// www. cribd. com/ Eleanor R. E O? Higgins, Case Study: Ryanair, 2004 Eleanor R. E O? Higgins, ECCH Collection, Case Study: Ryanair ; Low fare airline, 1999, viewed August 8, 2009 Eoin S. O? Cuilleanain, Gonzague della Falle, Felix Sobotka, Alexander Kleinert, Solvay Business School, April 2004, Ryanair Plc, viewed on August 6, 2009 Robbins. S, Bergman. R, Stagg. I, Coutler. M, ‘Management,? 4th Edition, 2006 Ryanair 20 09, retrieved on August 6, 2009, http:// www. scribd. com Strategic Case Analysis: Ryanair, 2005 retrieved on August 6, 2009

Free Essays on The Raven

An Unfolding of Edgar Allan Poe’s â€Å"The Raven† Edgar Allan Poe wrote an essay entitled â€Å"The Philosophy of Composition†. In this dissertation, Poe described the creation and work involved in composing his well-known literary masterpiece, â€Å"The Raven†. In â€Å"The Philosophy of Composition,† Poe stated that his design was to make â€Å"The Raven† â€Å"universally appreciable†, so that the public, as well as the critics would share a strong appreciation of his work (Poe, 1850). While â€Å"The Raven† is quite possibly Poe’s most disturbing tale, not so much because of images of grief or despair, but because of the haunting way the reader starts to feel the inner turmoil of the narrator, it is renowned as one of the greatest symbolic masterpieces of American Poetry. â€Å"The Raven† is about a man who lost his true love and tries to ease the pain or â€Å"sorrow for the lost Lenore† (DiVanni, 721), by reading old books to keep his mind occupied. He is interrupted from his napping, by what he says is a "tapping on my chamber door" (DiVanni, 721). He gets up hoping that his lost love Lenore is outside, but as he opens the door he finds â€Å"darkness there and nothing more† (DiVanni, 722). The narrator returns to his chamber when he again hears a tapping; this time it is a little louder and is coming from the window. As he flings open the shutter, in steps â€Å"a stately Raven†, the bird of ill omen (Poe, 1850). The Raven perches itself on a statue above the chamber door. The narrator tells the reader that the statue the Raven settles on is the bust of Pallas. Pallas is the goddess of wisdom in Greek mythology (Nilsson, 1998). The man asks the Raven for his name, and to his surprise the bird answers back, â₠¬Å"Nevermore.† The narrator continues to ask the Raven other questions like, â€Å"Is there balm in Gilead?† and â€Å"Can Lenore be found in paradise?† The Raven answers all questions the same, responding with the ... Free Essays on The Raven Free Essays on The Raven An Unfolding of Edgar Allan Poe’s â€Å"The Raven† Edgar Allan Poe wrote an essay entitled â€Å"The Philosophy of Composition†. In this dissertation, Poe described the creation and work involved in composing his well-known literary masterpiece, â€Å"The Raven†. In â€Å"The Philosophy of Composition,† Poe stated that his design was to make â€Å"The Raven† â€Å"universally appreciable†, so that the public, as well as the critics would share a strong appreciation of his work (Poe, 1850). While â€Å"The Raven† is quite possibly Poe’s most disturbing tale, not so much because of images of grief or despair, but because of the haunting way the reader starts to feel the inner turmoil of the narrator, it is renowned as one of the greatest symbolic masterpieces of American Poetry. â€Å"The Raven† is about a man who lost his true love and tries to ease the pain or â€Å"sorrow for the lost Lenore† (DiVanni, 721), by reading old books to keep his mind occupied. He is interrupted from his napping, by what he says is a "tapping on my chamber door" (DiVanni, 721). He gets up hoping that his lost love Lenore is outside, but as he opens the door he finds â€Å"darkness there and nothing more† (DiVanni, 722). The narrator returns to his chamber when he again hears a tapping; this time it is a little louder and is coming from the window. As he flings open the shutter, in steps â€Å"a stately Raven†, the bird of ill omen (Poe, 1850). The Raven perches itself on a statue above the chamber door. The narrator tells the reader that the statue the Raven settles on is the bust of Pallas. Pallas is the goddess of wisdom in Greek mythology (Nilsson, 1998). The man asks the Raven for his name, and to his surprise the bird answers back, â₠¬Å"Nevermore.† The narrator continues to ask the Raven other questions like, â€Å"Is there balm in Gilead?† and â€Å"Can Lenore be found in paradise?† The Raven answers all questions the same, responding with the ... Free Essays on The Raven ANALYSIS OF â€Å"THE RAVEN† Published in 1845 in the New York Evening Mirror, â€Å"The Raven† by Edgar Allan Poe is arguably the most well known American poem. A first person narrative describes a meeting with a demonic raven with very elaborate language and imagery. Superficially, â€Å"The Raven† is a poem of suspense and horror, but it is also an allegory for growing madness induced by guilt. The poem starts out with dark and creepy imagery of the narrator falling slowly asleep as he reads â€Å"a quaint and curious volume of forgotten lore† when he hears someone knocking lightly at his door. At first, he dismisses the knocking as simply some visitor. It is obvious that the narrator is not in the mood to deal with visitors at this late hour. He is traumatized by the loss of a love, â€Å"a rare and radiant maiden whom the angels name Lenore.† The book that he is reading is an attempt to drown his sorrow for the loss. This attempt to relieve himself of the pain he feels for Lenore is repeated often through the poem. As the narrator continues to hear the persistent knocking he is finally awake from his napping and opens the door, but he finds â€Å"darkness there, and nothing more.† This is the first that we see the narrator starting to lose his mind as he stands in the doorway â€Å"wondering, fearing, doubting, dreaming dreams no mortals ever dared to dream before.† As he closes the door, he hears the knock again and realizes that it is coming from his window. Upon opening the window a raven flies in and sits on top of the â€Å"bust of Pallas.† At first, the narrator is simply puzzled by this bird. The fact that upon asking its name, the raven replies â€Å"nevermore† does not greatly surprise the narrator, for like a parrot a raven can be taught to speak and the narrator thinks that this raven flew away from some â€Å"unhappy master† who was bored with the bird’s â€Å"melancholy† chant of â€Å"nevermore† and that â€Å"on the morrow he...

Mexican Involvement in World War II

Mexican Involvement in World War II During World War II, Mexico played a significant role in the Allied effort. Everyone knows the World War II Allied Powers: the United States of America, the United Kingdom, France, Australia, Canada, New Zealand...and Mexico? Thats right, Mexico. In May 1942, the United States of Mexico declared war on the Axis alliance. They even saw some combat: a Mexican fighter squad fought valiantly in the South Pacific in 1945. But their importance to the Allied effort was much greater than a handful of pilots and airplanes. Significant Contributions It is unfortunate that Mexico’s significant contributions are often overlooked. Even before their official declaration of war- and despite the presence of important German interests in the country in the form of iron, hardware, chemicals, and pharmaceutical companies- Mexico closed its ports to  German ships  and submarines. Had they not, the effect on U.S. shipping might have been disastrous. Mexico’s industrial and mineral production was an important part of the U.S. effort, and the economic importance of the thousands of farmworkers manning the fields while the American men were away cannot be overstated. Also, let us not forget that while Mexico officially only saw a bit of aerial combat, thousands of Mexican  servicemen did fight, bleed, and die for the Allied cause, all the while wearing a uniform of the United States. Mexico in the 1930s In the 1930s, Mexico was a devastated land. The Mexican Revolution (1910–1920) had claimed hundreds of thousands of lives; as many more were displaced or saw their homes and cities destroyed. The Revolution was followed by the Cristero War (1926–1929), a series of violent uprisings against the new government. Just as the dust was beginning to settle, the Great Depression started and the Mexican economy suffered badly. Politically, the nation was unstable as Alvaro Obregà ³n, last of the great revolutionary warlords, continued to rule directly or indirectly until 1928. Life in Mexico did not start to improve until 1934 when the honest reformer Lzaro Crdenas del Rio took power. He cleaned up as much of the corruption as he could and made great strides toward re-establishing Mexico as a stable, productive nation. He kept Mexico decidedly neutral in the brewing conflict in Europe, even though agents from Germany and the United States continued to try to gain Mexican support. Crdenas nationalized Mexicos vast oil reserves and the property of foreign oil companies over the protests of the United States, but the U.S., seeing war on the horizon, was forced to accept it. The Opinions of Many Mexicans As the clouds of war darkened, many Mexicans wanted to join on one side or the other. Mexicos loud communist community first supported Germany while Germany and Russia had a pact, then supported the Allied cause once the Germans invaded Russia in 1941. There was a sizable community of Italian immigrants who supported entry in the war as an Axis power as well. Other Mexicans, disdainful of fascism, supported joining the Allied cause. The attitude of many Mexicans was colored by historical grievances with the U.S.: the loss of Texas and the American west, intervention during the revolution, and repeated incursions into Mexican territory caused a lot of resentment. Some Mexicans felt that the United States was not to be trusted. These Mexicans did not know what to think: some felt that they should join the Axis cause against their old antagonist, while others did not want to give the Americans an excuse to invade again and counseled strict neutrality. Manuel vila Camacho and Support for the U.S. In 1940, Mexico elected conservative PRI (Revolutionary Party) candidate Manuel vila Camacho. From the start of his term, vila decided to stick with the United States. While at first many of his fellow Mexicans disapproved of his support for their traditional foe to the north and railed against vila, when Germany invaded Russia, many Mexican communists began supporting their president. When Pearl Harbor was attacked in December 1941, Mexico was one of the first countries to pledge support and aid and it severed all diplomatic ties with the Axis powers. At a conference in Rio de Janeiro of Latin American foreign ministers in January 1942, the Mexican delegation convinced many other countries to follow suit and break ties with the Axis powers. Mexico saw immediate rewards for its support. U.S. capital flowed into Mexico, building factories for wartime needs. The U.S. purchased Mexican oil and sent technicians to quickly build up Mexican mining operations for much-needed metals like mercury, zinc, copper and more. The Mexican armed forces were built up with U.S. weapons and training. Loans were made to stabilize and boost industry and security. Benefits up North This invigorated partnership also paid great dividends for the United States of America. For the first time, an official, organized program for migrant farmworkers was developed and thousands of Mexican â€Å"braceros† (literally, â€Å"arms†) flowed north to harvest crops. Mexico produced important wartime goods such as textiles and construction materials. In addition, thousands of Mexicans- some estimates reach as high as a half-million- joined the U.S. armed forces and fought valiantly in Europe and the Pacific. Many were second or third generation and had grown up in the U.S., while others had been born in Mexico. Citizenship was automatically granted to veterans, and  thousands settled in their new homes after the war. Mexico Goes to War Mexico had been cool to Germany since the start of the war and hostile after Pearl Harbor. After German submarines began attacking Mexican merchant ships and oil tankers, Mexico formally declared war on the Axis powers in May 1942. The Mexican navy began actively engaging German vessels and Axis spies in the country were rounded up and arrested. Mexico began to plan to actively join in combat. Eventually, only the Mexican Air Force would see combat. Their pilots trained in the United States and by 1945 they were ready to fight in the Pacific. It was the first time that Mexican armed forces were deliberately prepared for overseas combat. The 201st Air Fighter Squadron, nicknamed the â€Å"Aztec Eagles,† was attached to the 58th fighter group of the United States Air Force and sent to the  Philippines  in March of 1945. The Squadron consisted of 300 men, 30 of whom were pilots for the 25 P-47 aircraft that comprised the unit. The squad saw a fair amount of action in the waning months of the war, mostly flying ground support for infantry operations. By all accounts, they fought bravely and flew skillfully, seamlessly integrating with the 58th. They only lost one pilot and aircraft in combat. Negative Effects in Mexico World War II was not a time of unmitigated goodwill and progress for Mexico. The economic boom was mostly enjoyed by the rich and the gap between the rich and the poor widened to levels unseen since the reign of  Porfirio Dà ­az. Inflation raged out of control, and lesser officials and functionaries of Mexico’s immense bureaucracy,  left out of the economic benefits of the wartime boom, increasingly turned to accepting petty bribes (â€Å"la  mordida,† or â€Å"the bite†) to fulfill their functions. Corruption was rampant at higher levels, too, as wartime contracts and the flow of U.S. dollars created irresistible opportunities for dishonest industrialists and politicians to overcharge for projects or skim from budgets. This new alliance had its doubters on both sides of the borders. Many Americans complained of the high costs of modernizing their neighbor to the south, and some populist Mexican politicians railed against the U.S. intervention- this time economic, not military. Legacy All in all, Mexico’s support of the United States and timely entry into the war would prove highly beneficial. Transportation, industry, agriculture, and the military all took great leaps forward. The economic boom also helped indirectly improve other services such as education and health care. Most of all, the war created and strengthened ties with the U.S. that have lasted to this day. Before the war, relations between the U.S. and Mexico were marked by wars, invasions, conflict, and intervention. For the first time, the two countries worked together against a common enemy and immediately saw the vast benefits of cooperation. Although relations between the North American neighbors have undergone some rough patches since the war, they have never again sunk to the disdain and hatred of the 19th century. Sources Herring, Hubert.  A History of Latin America From the Beginnings to the Present.  New York: Alfred A. Knopf, 1962.Mathes, Michael. The Two Californias During World War II. California Historical Society Quarterly 44.4 (1965): 323-31.Niblo, Stephen R. Allied Policy toward Axis Interests in Mexico During World War II. Mexican Studies/Estudios Mexicanos 17.2 (2001): 351–73.Paz Salinas, Marà ­a Emilia. Strategy, Security, and Spies: Mexico and the U.S. as Allies in World War II. University Park: The Pennsylvania State University Press, 1997

Economic Essay Example | Topics and Well Written Essays - 500 words

Economic - Essay Example These factors go on to achieve economic objectives, promote economic growth, and shape fiscal policies. The term ‘money’ includes paper money, coins and checking accounts. The demand and supply of such assets determine the interest rate in an economy. The equilibrium interest rate is determined by the point where real money supply equates the real money demand. The money supply is controlled by the central bank. Real money demand is influenced by the interest rate and is positively correlated with real GDP. Influencing and changing the interest rate from the equilibrium rate results in conversions from (to) interest bearing deposits to (from) money. This allows the government to influence money holdings by the public. Interest rates are also positively related to the price level in a country. Keeping all other factors constant, a rise (fall) in the real interest rates brings about a rise (fall) in the real GDP. Hence economic growth could be promoted through interest rat es and therefore economic objectives could be achieved. The money market shows the equilibrium interest rates while the foreign exchange market shows the exchange rate. Combining the two markets yields a money forex diagram.

Legal-business auto accidents Term Paper Example | Topics and Well Written Essays - 1250 words

Legal-business auto accidents - Term Paper Example Honda Motor Company, â€Å"where the court ruled that the regulation foreclosed the filing of injury suits under the state law by the people contending that manufacturers had made the wrong choice† (Liptak). II. Facts of the Case: Petitioner, Alexis Geier, was driving a 1987 Honda Accord, which collided in a tree and caused the petitioner serious physical injuries, despite the fact that the shoulder and lap belts were fastened at the time the accident happened. The car was not also equipped with airbags. Petitioner, together with her parents, sued American Honda Motor Company, Inc. before the District of Columbia tort law, on the ground that Honda negligently was remiss in its obligation as a car manufacturer for failure to set an airbag at the driver’s side. The Court dismissed the case on the ground that it was the discretion of Honda to whether or not install an airbag in its car models. Hence, this ruling concluded that it was not mandatory for the automakers to ins tall a passenger-side airbag, and shall not be liable for a personal injury case based on such ground. The Court of Appeals reaffirmed the decision of the District Court which resulted to a dismissal of the case. Thus, an appeal to the Supreme Court was filed by the petitioners. ... s in conflict with the existing provisions of FMVS 208 Act, particularly on the express pre-emption provision Ruling: The Supreme Court ruled that: With regard to the first issue, the court held that the ordinary principles of pre-emption shall not apply in the case of the petitioners. The provision contained in the Act states that the federal safety standard does not relieve a person from any liability on the basis of the common law. Hence, the petitioners are not precluded from setting up a claim against American Honda. The language of the provision clause enacted by Congress does not prohibit common-law actions. The spirit of the law must be followed and not its literal meaning of the law. In case of doubt, the intention of the law must prevail over the strict context of the law. Thus, â€Å"express pre-emption provision that excludes common-law tort actions gives actual meaning to the saving clause’s literal language, while leaving adequate room for state tort law to oper ate† (Cornell). For the second issue, the Court held that ordinary pre-emption principles apply in the case of the petitioners. In its decision, the Court anchored its conclusion on the basis of â€Å"the express pre-emption and saving provisions when taken together, shall create a â€Å"special burden,† which a court must impose â€Å"on a party† who claims conflict pre-emption under those principles. A â€Å"special burden† would also promise practical difficulty by further complicating well-established pre-emption principles that already are difficult to apply† (Cornell). In one of the dissent of the justices, one justice commented that if the â€Å"special burden† would be made applicable in such a case, where the state law penalizes the requirement of the federal law which is an absolute