Lecture Summaries #5 Coursework Example | Topics and Well Written Essays - 750 words

Lecture Summaries #5 - Coursework Example However, upon assuming his position as the president, Franklin Roosevelt’s determination to make effective changes to the economy led him into developing a program identified as the New Deal. This program was a representation of the culmination of long-term trends towards abandoning the â€Å"laissez-faire† capitalism to regulating the railroads, as well as the introduction of a number of reform legislations. The main aim of the program was to rid the nation from the financial illness that was paralyzing it. Some of the changes realized after the introduction of the New Deal are inclusive of the adoption of a program advocating for cooperation between the government and private businesses. On the other hand, President Roosevelt established a central economic planning in order to rescue capitalism as well as guarantee that the government was democratically representative. He used funds from the government to uplift the economy (America in the 20th Century, 10). Conversely, the New Deal utilized government policies for the redistribution of wealth from the wealthy individuals in the country, to the individuals in need. One of the causes leading to the economic crisis during the great depression was the heavy loans the banks gave to investors for stock purchases. The second New deal led to the introduction of social reform programs that would strengthen the commitment of the nation to create jobs and provide security against unemployment, illnesses and old age. The articles on the Second World War provide a revelation of some of the factors that led to its commencement as well as the way Americans responded to the war. Some of the factors leading to the commencement of the war include the fact that there were a number of unresolved issues from the First World War, outbursts from the worldwide economic depression and the stock crash in the year 1929, and American isolationism among other factors. One of the causes leading to

Contemporary management and value chain analysis at China Telecom Essay

Contemporary management and value chain analysis at China Telecom - Essay Example This is a significant accomplish for an organisation that must operate in a dynamic, competitive, and price sensitive environment whilst also managing multiple international cultures in its many divisions that operate globally in Asia, North America, and Australia. China Telecom is able to maintain a cost leadership position among competition by maximizing its supply chain and replenishment planning software, thus providing not only efficiency in service delivery but total price value in a region of the world that is willing to defect to other brands based on price sensitivity (Boone and Kurtz 2007). China is a collectivist culture, meaning that individuals in society value group membership and the establishment of group-minded goals with little emphasis on individuality common to Western consumers (Hofstede 2012). Because of this, word of mouth advertising and appealing to group-minded consciousness in the target market requires the organisation to be aware of pricing models compare d to competitors as well as pricing that will ensure long-term brand loyalty. Even though China Telecom is a fixed line service provider as the primary service and product, the business recognises trends in social culture and therefore has adopted a model of innovation and modernisation. Growth in Internet usage in the country of China exceeds the growth rates of the rest of the world and China Telecom continues to evolve its wireless Internet options therefore diversifying business practices and divisional competencies. Table 1 illustrates the growth in Chinese consumer Internet usage over a 10 year period. However, in order to effectively manage these innovations, the business must focus on cross-cultural management, engage in transformational management, continue to decentralise business divisions and leadership, as well as conduct routine quality assurance/auditing practices as part of strategic management and risk management models. Table 1 Source: www internetworldstats.com (2 010). China Telecom continues to be a leader in supply chain management allowing the firm to maximize its total brand value and price value components in its business and profitability models. The organization utilises manufacturing and distribution from ZTE, Comba Telecom, SimTech, UT Starcom, and Grentech (Meng 2009). China currently maintains an unfavourable exchange rate with the rest of the Westernised world, therefore it procures its products domestically to ensure yuan exchange and thus maximizing profit. This also avoids tariff costs for importing mobile devices and service provision information technology equipment. In order to maximize efficiencies in supply, China Telecom must be strategic-focused and work with collaborative supply chain systems to ensure partnerships and efficient distribution networks for purchasing needs. Outside of the financial and managerial aspects of total value chain considerations, China Telecom maintains many strengths in relation to corporate social responsibility and understanding how to develop cultural awareness to create a unified and loyal corporate culture. In May of 2012, China Telecom was awarded the Best Managed Company in Asia by FinanceAsia, a respected financial and management consulting company (China Telecom 2012). China Telecom received this award for its