The Graduate Essays - English-language Films, Detachment, Films

The Graduate Veronica Combs This paper will be both a critique as well as an analysis of the relationships between both my generation and the time period in which the movie took place. In the critique, I which to look at the movie score and the dependency that I felt Ben and Katherine had for each other. There were several issues that I felt my generation had in common with Ben's generation. These issues were the need to rebel and the detachment we feel from our parents. There were several aspects of the movie, which I think should have been removed. The first aspect is the movie score, which was sung by Paul Simon and composed by Simon and Garfunckel. In my opinion, the music was very folksy. Folksy in the way that it should be something that people meditate to not listen to on a movie screen. I also felt the movie score did not fit in with the movie, because the music was too mundane for the fast pace of the movie. The next aspect is the dependency that Ben and Katherine had for the other. I do believe that they really loved each other, but that each person represented something that the other did not see in themselves. I felt that Katherine saw in Ben his rebellious behavior which she wish she had and Ben wished that he had Katherine's quiet and peaceful spirit. I really felt this movie related to my generation because it touched on a few important issues that are still common now. These issues are the need to rebel from society, and the detachment from the parents. The first issue was Ben Braddock's need to rebel. His rebellion was his affair with Ms. Robinson. I think his rebellion stemmed from the fact that he felt he had to conform to what society expected from him after graduation. I feel that when he started his relationship with Ms. Robinson, he was thinking that he had finally done something that wasn't his parents' idea and it felt good. We see this attitude now in college students, who feel the need to break away from the expectations, set by our parents. Many times I feel the need to be in a career exactly the opposite from what my mother wants me to do even if that career is the same career I really want to do. The next issue that I thought was revelant to my generation is detachment from our parents that we create for ourselves. I saw the detachment that Ben created for himself in the first few scenes where he sits in the room and tells his father that he doesn't want to go to the party right away. I feel that the detachment he created for himself because he felt that his parents really didn't understand him or what he wanted to do and also that his parents wanted him to grow up yet they wanted to treat him like a child. Ben's parents wanted him to get a job, but instead they let him spend the entire summer not doing anything but relaxing by the pool. I see this detachment in myself sometimes, because I want to be treated as an adult, yet my mother wants to keep up this image that I am just a kid. I have to admit to myself that I like being babied because it makes me feel protected. Films and Cinema

An Introduction to Inti and the Inca Sun God

An Introduction to Inti and the Inca Sun God The Inca culture of Western South America had a complex religion and one of their most important deities was Inti, the Sun. There were many temples to Inti and Sun worship affected many aspects of life for the Inca, including architecture, festivals and the semi-divine status of the royal family. The Inca Empire The Inca Empire stretched from present-day Colombia to Chile and included most of Peru and Ecuador. The Inca were an advanced, wealthy culture with sophisticated record-keeping, astronomy and art. Originally from the Lake Titicaca area, the Inca were once one tribe of many in the high Andes, but they began a systematic program of conquest and assimilation and by the time of their first contact with Europeans their Empire was vast and complex. Spanish conquistadors under Francisco Pizarro first encountered the Inca in 1533 and swiftly conquered the Empire. Inca Religion Inca religion was complicated and incorporated many aspects of the sky and nature. The Inca had a pantheon of sorts: major Gods who had individual personalities and duties. The Inca also venerated countless huacas: these were minor spirits that inhabited places, things and sometimes people. A huaca could be anything that stood out from its surroundings: a large tree, a waterfall, or even a person with a curious birthmark. The Inca also venerated their dead and considered the royal family to be semi-divine, descended from the Sun. Inti, the Sun God Of the major gods, Inti, the Sun God, was second only to Viracocha, the creator god, in importance. Inti was higher-ranking than other gods such as the Thunder God and Pachamama, the Earth Mother. The Inca visualized Inti as a man: his wife was the Moon. Inti was the Sun and controlled all that implies: the Sun brings warmth, light and sunshine necessary for agriculture. The Sun (in conjunction with the Earth) had the power over all food: it was by his will that crops grew and animals thrived. The Sun God and the Royal Family The Inca royal family believed they were directly descended from Apu Inti (Lord Sun) through the first great Inca ruler, Manco Capac. The Inca royal family was therefore considered semi-divine by the people. The Inca himself - the word Inca actually means King or Emperor although it now refers to the entire culture - was considered very special and subject to certain rules and privileges. Atahualpa, the last true Emperor of the Inca, was the only one observed by the Spaniards. As the descendant of the Sun, his every whim was fulfilled. Anything he touched was stored away, later to be burned: these included everything from half-eaten ears of corn to sumptuous cloaks and clothing. Because the Inca royal family identified themselves with the Sun, it is no accident that the greatest temples in the Empire were dedicated to Inti. The Temple of Cuzco The greatest temple in the Inca Empire was the temple of the Sun in Cuzco. The Inca people were rich in gold, and this temple was unrivalled in its magnificence. It was known as Coricancha (Golden Temple) or Inti Cancha or Inti Wasi (Temple of the Sun or House of the Sun). The temple complex was massive, and included quarters for the priests and servants. There was a special building for the mamaconas, women who served the Sun and even slept in the same room as one of the Sun idols: they were said to be his wives. The Incas were master stonemasons and the temple represented the pinnacle of Inca stonework: parts of the temple are still visible today (the Spanish built a Dominican church and convent on the site). The temple was full of golden objects: some walls were covered in gold. Much of this gold was sent to Cajamarca as part of Atahualpas Ransom. Sun Worship Much Inca architecture was designed and built to assist in the worship of the Sun, Moon and stars. The Inca often built pillars which marked the position of the Sun at the solstices, which were celebrated by grand festivals. The Inca lords would preside at such festivals. In the great temple of the Sun, a high-ranking Inca woman – generally the sister of the reigning Inca, if one were available – was in charge of the cloistered women who served as the Sun’s â€Å"wives.† The priests observed holy days such as solstices and prepared the appropriate sacrifices and offerings. Eclipses The Inca could not predict solar eclipses, and when one occurred, it tended to trouble them greatly. The diviners would attempt to figure out why Inti was displeased, and sacrifices would be offered. The Inca rarely practiced human sacrifice, but an eclipse sometimes was considered cause to do so. The reigning Inca would often fast for days after an eclipse and withdraw from public duties. Inti Raymi One of the most important religious events of the Inca was Inti Ramyi, the annual festival of the sun. It took place in the seventh month of the Inca Calendar on June 20 or 21, the date of the Summer Solstice. Inti Raymi was celebrated all over the Empire, but the main celebration took place in Cuzco, where the reigning Inca would preside over the ceremonies and festivities. It opened with the sacrifice of 100 llamas selected for brown fur. The festival lasted for several days. Statues of the Sun God and other gods were brought out, dressed up and paraded around and sacrifices were made to them. There was much drinking, singing and dancing. Special statues were made of wood, representing certain gods: these were burned at the end of the festival. After the festival, the ashes of the statues and sacrifices were brought to a special place on a hillside: only those disposing of these ashes were ever allowed to go there. Inca Sun Worship The Inca Sun god was relatively benign: he was not destructive or violent like some Aztec Sun Gods like Tonatiuh or Tezcatlipoca. He only showed his wrath when there was an eclipse, at which point the Inca priests would sacrifice people and animals to appease him. The Spanish priests considered Sun Worship to be pagan at best (and thinly-disguised Devil worship at worst) and went to great lengths to stamp it out. Temples were destroyed, idols burned, festivals forbade. It is a grim testament to their zeal that very few Andeans practice any sort of traditional religion today. Most of the great Inca goldwork at the Cuzco Temple of the Sun and elsewhere found its way into the melting fires of the Spanish conquistadors - countless artistic and cultural treasures were melted down and shipped to Spain. Father Bernabà © Cobo tells the story of one Spanish soldier named Manso Serra who was awarded a massive Inca sun idol as his share of Atahualpas Ransom. Serra lost the idol gambling and its eventual fate is unknown. Inti is enjoying a bit of a comeback lately. After centuries of being forgotten, Inti Raymi is once more being celebrated in Cuzco and other parts of the former Inca Empire. The festival is popular among native Andeans, who see it as a way to reclaim their lost heritage, and tourists, who enjoy the colorful dancers. Sources De Betanzos, Juan. (translated and edited by Roland Hamilton and Dana Buchanan) Narrative of the Incas. Austin: the University of Texas Press, 2006 (1996). Cobo, Father Bernabe. Inca Religion and Customs. Roland Hamilton (Translator), Paperback, New Ed edition, University of Texas Press, May 1, 1990. Sarmiento de Gamboa, Pedro. (translated by Sir Clement Markham). History of the Incas. 1907. Mineola: Dover Publications, 1999.

Business Ethics Essay Example | Topics and Well Written Essays - 500 words - 8

Business Ethics - Essay Example Therefore, this approach, in contrast to good attitude to animals, makes human actions towards animals ethically grounded, disregarding each person’s own attitude or feelings towards animals. Singer’s position lacks sentiments and is well grounded using the principle of equality of rights. Having brains or consciousness is not a discriminatory factor for Singer, and it is quite clear for the scholar that we all have to take moral care of all animals and stop using their lives for our trivial goals. 2. · Pollan’s main point is that the basic problem of our society is industrial animal farming where animals are treated with disrespect and are caused a lot of suffering. His idea is to make the process of animal farming (including their slaughtering) â€Å"transparent† (figuratively or literally) – that is, allow animals to enjoy their lives and to slaughter them as mercifully as possible. This would make meat and dairy products more expensive of course, however humans would eat animals with respect and consciousness. Considering Singer’s argumentation, Pollan agrees with quite a lot of arguments, yet questions some others, and this seems to happen because according to Peter Singer, there are only two options for people eating meat: either to go vegetarian or to turn their heads away from the problem and close their eyes not seeing the animals suffering. That is why, the eventually discovered solution of farms â€Å"transparency† looms for Poll an the perfect moral option which would, on the one hand, ensure that the animals are treated nicely, and on the other – that the humans will be able to make their choice of eating or not eating their flesh with more consciousness. 3. I would not say Pollan abandons utilitarianism totally but his position is certainly not concentrated on utility as the main measure for morality and the basic criteria for

Microeconomics Current events Assignment Example | Topics and Well Written Essays - 500 words

Microeconomics Current events - Assignment Example The decline in Colombian coffee production can be well grasped from the statistics that in the year 2006 the country produced more than 12 million pound bags of coffee and was optimistic to take this number to more than 17 million by 2014. However the catastrophe that has been illustrated so far has restricted the Colombian coffee production at nine million pounds bags in the year 2010. This displays a decline instead of much expected rise. Research has been going on to form a suitable Arabic coffee variant with indigenous qualities of Colombia that would be more resistant to pests and would be able to flourish even amidst heavy rain, however the final outcome is yet to be found. Courting this deadline in supply on one hand and rise in global demand for coffee on the other; price of the same is on a rise. The retail price of coffee coming from famous brands has risen by 25% and the figure in futures market is even higher at 85%. The consequences for the Colombian coffee and the eventual impact on global coffee market from the same are following a simple logic. First of all global warming and erratic climatic condition are mostly due to anthropocentric activities over hundred of years; especially after the industrial revolution. Secondly the decline in supply and rise in demand for the coffee (following an improvement of economic status of the population of the countries like India and China) has quite obviously resulted in a price rise in short run (excess demand). Again the scenario hovering global warming and the global climatic condition does not seem too bright in future; hence little hope is there that the production of coffee will be blessed with environmental favour once again in near future resulting in higher supply for the same.

The Importance of Audit Independence

The Importance of Audit Independence 1. Introduction As the development of the modern business, audit is playing a more and more important role to insure the trueness of the financial report and help report users to make proper decisions. Consequently, it is very important for auditors to remain independence in body and mind when conducting an audit based on a public limited company. To expound this topic clearly, the essay is divided into the following parts: Firstly, it makes a literature review of audit independence and concluded the viewpoint into four categories; secondly, it introduces the definition of audit independence in body and mind and stated the important of both of them separately; Finally, it analyzes why it is important to remain audit independence from many angles such as shareholders, creditors, government, operators and other stakeholders. 2. Literature review When it comes to the audit independence, many scholars have conducted systematic research in this topic. Some scholars pointed out that auditor has two kinds of independence- body and mind, lack of the former one may shake the publics confidence on independence and lead to interest conflicts, and lack of the latter one means auditors lose their professional ethics and this is very dangerous (Carmichael Swieringa, 1968). Salehi have emphasized that the cornerstone for the auditing profession is audit independence. The auditors opinion is suspect without independence and the third parties think that there is no need for external auditors without independence (Salehi, 2009). Due to highly publicized audit failures, the topic of auditor independence has gained increasing attention from academics, regulators, and practitioners around the world in recent years (Hope Langli, 2008). Under the background of many high profile companies fraud cases exposure such as Enron, Adelphia, WorldCom, the importance of audit independence to improve corporate governance is getting more and more attention (Rezaee. 2003). As the no-audit services has become a more and more important lucrative business for CFA firms, audit independence is somewhat influenced, which make it even more crucial to maintain audit independence for auditors (Gul, Tsui Dhaliwal, 2006). Besides, Bou-Raad G. emphasized the significance of audit importance from the value -added prospect. Internal auditors are not just a traditional audit for supervision but also a valuable access to assisting managers to execute the objectives of the organization. In other words, corporate management benefits from audit quality (Bou-Raad. 2000). From the literature above, the importance of audit independence can be categorized into four reasons: Firstly, audit independence can hold the public confidence and avoid interest conflicts; Secondly, audit independence can help auditors to provide high quality financial report and avoid scandals like Enron bomb; Thirdly, the development of no-audit services make it more difficult but more important to maintain audit independence; Lastly, audit independence can improve the quality of audit and it can assist managers to make strategy formulations. 3. The introduction of audit independence in body and mind When it comes to remaining independence in body, it can be also called physical independence, external independence or surface independence. Auditors should take the role of independence auditors on front of the third parties. And it is the direct evidence for the public judging the independence of auditors. Once report users think that auditors have some current or potential relationship that damages the independence with the consigner such as employment, business partner, family or relatives and so on, it will definitely decrease the audit function as they probably do not depend on those reports so much (Law, 2010). Auditors should have no specific relationships with entity, and they mustnt hold equity stakes of the entity and should not be on the senior position of it. In order to avoid misunderstanding and enhance the trust, auditor must avoid or diminish this threat to a level which is acceptable. Independence in mind is hard to improve and the public can only infer the independ ence of auditors from the body like relationships with the entity and other stakeholders. Actually, even if auditors maintain independence in mind, as long as the public think they take sides with the entity or any other parties, no matter how precise the audit result is it is useless. As for remaining independence in mind, it demands that there is no stake between auditor and the consigner intrinsically. In the whole auditing process, auditor should keep an unbiased attitude that makes a professional decision and never succumbs to any external pressure. It comes up with higher requirement for auditors mindset. They are required to be neutral, objective and fact-based. Actually, those two concepts are different but integrative. They reflect both external and internal sides. Only remaining independence in body and mind can make sure the auditing result persuasive. Also, the function and value of conducting audit can be realized. 4. The importance of remaining audit independence Stakeholders make economy decisions by taking advantage of reports. Whether those reports are related and reliable are questions. Audit can help to solve this problem. However, auditor fails to fulfill the duty if they cannot remain independence in the conducting process. On one hand, report users will doubt this kind of dependence if they thought auditor and consigner belong to the same party. On the other hand, when auditor cannot keep an unbiased mindset, the auditing opinion probably gets wrong. For example, auditor fails to find out the information is cooked and issues unqualified opinion. This result is easy to mislead related report users for decision making. They may bear loss because of depending on this audit opinion. As the situation varies from Stakeholder to Stakeholder, the following analysis in the importance to remain independence in body and mind is based on different Stakeholders. 4.1 The importance of audit independence for the shareholders Shareholders are the direct beneficiary of companies and they will get more bonuses if the companies operate successfully. Consequently, shareholders have high demand for audit independence. Actually, when the company is in poor operation, controlling shareholders are not willing to public the truth, and then hurt the interest of minority shareholders. Controlling shareholders dont have the incentive to employ high independence auditors, and this phenomenon is called Entrenchment Effect (Fan Wong, 2002). As the shareholders right separates from the management right, owners do not involve into the daily management to the company. They employ staff to operate their company and enjoy the profits. Usually, shareholders care much about the profitability, efficiency, going concern, and solvency and so on. Those indexes reflect how well manager operates the company. Also, shareholders can assess managers performance according to the information. Generally speaking, they obtain the information from the reports prepared by managers. However, the report may involve fraudulence because it is manager who makes those reports. It has the possibility that managers cook the report so as to cover up their mistakes, bad performance and other situation where they fail to fulfill their responsibility. At this time, auditors work helps answer the question that how much report users can depend on the report information. But if auditor is unable to keep independence, it probably arouses the doubt to audit opinion from report users. Obviously, audit loses the value under this condition. Without unbiased and objective audit opinion, report users are unable to acquire useful information to know the companys condition and assess managers performance. Once shareholders lose control to the company, this business mechanism will definitely go disorder as managers probably make their own benefits by taking advantage of shareholders resource and power and regardless of the limitation from regulation and law (Agbejule, 2009). In the end, the company probably goes to liquidation or bankruptcy. 4.2 The importance of audit independence for creditor Nowadays, debtor-creditor relationshipÂÂ  is very common and necessary. Debtors want to loan in order to expend production or develop new market, and creditors want to obtain interest using their spare money. And what the creditors concern most is the debtors ability to pay for the debt. The debtors financial reports can offer some information such as some ratios which can reveal the debt paying ability. And if the company has a bad financial result, creditors can consider calling in a loan ahead of the expiry day to insure their money is safe. However, those reports are made by the debtor. Therefore, creditors may raise the doubt whether there exists the possibility that debtor offer false information to diddle money or conceal the fact that they have no ability to pay that money back. At this time, auditors work can eliminate or alleviate this doubt. However, audit cant work out if auditor were unable to remain independence when conducting the audit. Creditors are likely to ma ke a wrong decision due to the failed audit opinion. When creditor lends money to unqualified debtor, it probably bears a lot of bad accounts and toxic asset as consequence (Siddiqui, 2002). Consequently, audit independence which can help to provide true financial reports is very crucial to creditors. 4.3 The importance of audit independence to government As a company operates within one country, it uses the infrastructure construction and investment environment offered by the government. It should take on tax responsibility. The financial statement provided by companies is the evidence for government to decide whether levy or not and how many to levy. For example, business tax is based on the gross income of the company which can be found on the income statement. And the income tax is based on the profit also from income statement. If company cooks the financial reports in order to save tax cost, the government will be suffered directly. Therefore, government will conduct audit in case of tax evasion. Moreover, lacking of audit independence would influence government indirectly. If auditors provided fake financial reports, the pubic will be suffered. They will have less confidence on the trueness of the operation of the company, and the stakeholders will feel betrayed. If their interests are impaired, conflicts would emerge, and it is bad for the stability of the society. That is why the government published the 2002 Sarbanes-Oxley Act after the Enron Bomb. 4.4 The importance of audit independence for operator Many people may misunderstand that auditor is enemy to operator referring to manager in this essay and the existence of audit is a stone in the way. This idea is partial and shallow. The role of audit plays is to increase the dependence to the information and check whether the whole business activities are in accordance with the regulation. To some degree, it serves to obtain superior management (Shih, 2006). Sometimes, auditors will come up with solutions to the existing management problems. For example, the internal control has leak which may incur situation where damages the whole benefits of company. Going details, the design of regulation may give a chance for embezzlement. Or auditor finds out some staff goes against regulation. Cases like that should call managers attention for better management. If auditor cannot keep independence when conducting audit, it will pose the threat to the company such as damage the company benefits. For example, the auditor is a brother to the cas hier. When this auditor conducts audit to cash, he cant remain independence or his independence has been affected. He may conceal the fact if the cashier had some guilt and issues unqualified opinion (Fadzil, 2005). Because of this opinion, managers cant notice this threat. It may have a bad effect on their working performance and company development. 4.5 The importance of audit independence for the other stakeholders The existence of a company has to bear many responsibilities. Therefore, the stakeholders can never be limited to the above mention. When a company becomes a listed company namely a public limited company, it has to fulfill more duties to the society and accept more supervision from the public. It raises fund by stock shares. Its public investors sell or buy the shares in the stock exchange, and their decision usually relies in the financial reports. However, those reports perhaps cannot reflect the financial position and income condition. Audit opinion is very important in their decision making process. If auditor could not remain independence, the audit opinion will mislead the users. Investors will lose money if they invested a loss company. For example, the collapse of Enron results from the accounting firm Andersen failed to remain independence. In the end, the share price cannot reflect the value of the company (Abbott, 2000). Stock market will go wrong and the economy will fal l apart. 5. Conclusions The most important responsibility for auditors is to provide high quality financial report which can help report users to make right decisions. The authenticity and reliability of the financial report is very crucial because it directly decides the strategies of stakeholders. The trueness of financial report which is also the quality of audit is decided by two factors: professional competence of auditors and audit independence, and the latter is more important. Audit failures caused by lack of audit independence have led to many companies fraud cases. Audit independence is also the need of shareholders, creditors, government, operators and other stakeholders. All in all, it is really important for auditors to remain independence in body and mind when conducting an audit.

Philips vs Panasonic: Facing the 2008 Economic Crisis Essay

1. Introduction Panasonic and Philips are two of the main consumer electronics companies in the world with different origins but similar international path. Several hurdles were faced by both companies in their evolution. This paper will analysis how the administrative heritage of Philips and Panasonic caused problem in the changing of their strategy, causing problem in the implementation of the respective strategic decisions. Moreover it tries to explain how time contingences and the external environment had influenced the strategy of the two MNEs and shape the organizational structure; sometimes leading to success, sometimes losing ground in the market field. Nowadays the main tasks of the two companies are conflictual : for Panasonic defending its leadership position, for Philips challenging the global leader. How to reach these goals? The last paragraph will address these objectives providing to the CEOs of the respective companies further steps to consider in order to remain com petitive in the market field, from 2008 looking forward. 2. How the environment and culture shape companies’ strategy and organization 2.1 Philips evolution: from responsive to integrated Philips’s strategy, right after WWII, led the company to its success. The economic situation during the 30s, forced the company to transfer part of its assets and laboratories abroad. This led to a dispersion of responsibilities. Countries protectionism, high tariffs and trade barriers required local production facilities. These problems led to the adoption of a decentralized federation with independent and self sufficient units and autonomous marketing. The contingent environment spurred the management to rebuild their structures upon National Operations (NOs). Philips built its success on a worldwide portfolio of responsive national organizations. Economic conditions, tastes and preferences, at that time, differed across countries; corporate management treated subsidiaries as independent national businesses with the aim to satisfy local needs. National Organizations were so vigil that they manage to preempt products required by customers, launching products such as the first color TV, the first stereo TV and the first TV with teletext. Innovation and R&D were the core strength of the company. They were flexible, responsive and fast in the approach to market. Entrepreneurial initiatives derived, not from top down imposition, but from every single division. The company succeeded in managing its innovation and to bring it to the next level, making innovation and customer’s needs the purpose of their business. The focus on national responsiveness was appropriate since the 50-60s, when it started to become the firm’s limitation. The great focus given to tailor solution to costumers’ tastes increased the cost of production and led to a dispersion of subsidiaries across too many countries. Problems of efficiencies and coordination arose. The company took several years to get rid of its matrix structure. Attempts to shift the companies to a slimmer organization in order to become more efficient in its production were slow and cumbersome. The National Operations continued to detain major responsibilities. The company was captive of its past. Contrarily to management prevision, the matrix structure created more problems that it solved. It was more complex than either the â€Å"worldwide area structure† or â€Å"the worldwide product structure†, and it created conflicts of responsibilities. Market signals warned the company to implement changes in the way business was conducted. However, in the 1990s, the company was, still, going through major losses. The structure was too costly and value added higher, compared to Japanese production facilities. Even if a good objective were settled in the strategic planning, however, as history showed, the further step of re-organization failed due to difficulties encountered in rebuilding the organization. It was not a zero-base reconfiguration. For more than 35 years, from 1971 onwards, different CEOs tried to take action in order to reduce the power of NO and create an agile and simple divisional organization that could create efficiencies, however trying not to neglects their sources of innovation: respond to country specific markets. 2.2 Matsushita evolution: from integration to responsiveness Matsushita point of departure instead was complete different from the one undertaken by Philips. Matsushita employed a divisional structure with a strong centralized decision making. The adoption of the divisional organization was well-thought due to the large and highly differentiated product range manufactured by the companies, aimed to different target clients. This allowed the company to reduce the organizational complexity and reducing transaction costs within the company. Matsushita exploited the favorable characteristic of the post war era, such as a convergence of tastes across borders and the â€Å"uncontrollable† globalization. In the 60s, the firm managed to expand its product range. It created self-funded research laboratories to develop new product solution. At the time, Matsushita detained a strong distribution channel directly owned by the company with more than 25.000 domestic retail store. However, when the demand in the domestic marketed slowed down, what was a competitive advantage domestically was not replicable abroad. The company made a lot of effort in expanding its international presence, without being demoralized. However as times passed by, the highly centralized control structure, create problems in their offshore operations. By the 1980s, the company, mainly concentrated on global integration instead of localization, decided to re-tailored its strategy . Decentralization of responsibilities was more than a necessity. Matsushita’s strategy was too focused on global efficiencies neglecting innovation, and learning and flexibility. R&D was vital in this industry. Actions of several CEO tried to address these issues, changing the company’s strategy from copycat to promoter of invention. However, as Philips encountered problem in its â€Å"transformation†, so did Mastushita. The firm had difficulties in promoting self initiatives among different divisions. The former centralized hub organizational structure was still present in the employees’ mentality. The initiatives, such as the introduction of local managers with stronger responsibilities in key positions and locations, did not give the expected outcome in the short run. It took several years and a lot of effort to see some res ults. Again the company was captive of its past. Today, Mitsushita’s configuration is mainly built around 3 main divisions: Digital networks, Home appliance and Components; reduced from the 36 product divisions used in the 1980s. The simplification was clear and so its advantages. The reaction of such a structure led the company to be more flexible to local need, reduce costs of duplication and achieve economies of scope. The products developed within each division were highly linked. However the company was not safe from competition. With the crisis’ approaching, the economical situation of the company does not remain untouched. What else is left to do? 2 Core issues today in the consumer electronic industry The current economic situation differs drastically from the one encountered in 10 or 20 years ago. Phenomena like globalization have given companies such as Philips and Panasonic the chance to provide their product to an extensive market, raising however new challenges. The global economic recession has created new needs. Consumers are more price sensitive and less willing to pay high prices for low quality products. Companies need to be aware of their cost structure and be ready to take respond to rapid technological changes and changing consumer preferences with timely and cost-effective introductions of new products in markets that are highly competitive in terms of both price and technology. The access to low factor cost, such as low labor force in emerging country as become crucial. Moreover, developing markets, such as India and China, are not only location where firms can manufacture products at lower costs, but also new opportunities where companies can market their own produ cts. In the consumer electronic industry, competition has become extremely high and innovation, now more than ever has become crucial as new source of revenues. 3. Recommendation for Philips: Exploit contingencies of the time you are in The 2008 situation of Philips is not flourishing. In 2008, the company scored a net loss of â‚ ¬260 million. This was probably due to the financial crisis that affected the company drastically. However, company’s loss can not only be attributed to external factors. The company has made some mistakes, in the recent years, and should take action and correct its own strategy, remembering it origins. Coherence with past is crucial to tailor an effective strategy that could lead to innovative solutions for the future. That’s why Philips should continue to develop consumer-centric solutions. Research laboratories should remain independent but linked across one another. Philips should tackle the recession without sacrificing its long term strategic ambition: â€Å"Improving people live through meaningful innovation†1. That why now, more than ever, the company should be able to forecast marke t trends. Philips should continue more efficiently to re-allocate resources to growth opportunities and emerging markets. To do so it should transfer part of its qualified personnel to target markets, such as from India and China, building a strong teams of both local and expatriates managers and engineers. The combination of foreign and local figures could help the firm to continue the strategy of local responsiveness. To do so, it is necessary to include in the company agenda selective mergers and acquisitions. M&A, however, should not be out of focus. Philips has reduced its current division to 3 main domains: healthcare, lighting and customers lifestyle. My recommendation would be to stay true to these three core segments, acquiring key strategic companies in foreign markets. How to finance these new objectives? Disinvestments in peripheral activities and less profitable plans are still needed in order to obtain liquidity to reinvest in developing countries. This tactic would not repay within short term but long term profits would offset the high level of investments. Moreover leveraging of local subsidiaries in emerging markets can a springboard, to target back developed markets selling low cost products. 4. Recommendation for Mastushita: defending worldwide dominance The economic situation of Panasonic is different from the once faced by Philips. Panasonic is the world’s leading plasma maker in the industry and has to defend its worldwide dominance. Matsushita has based its competitive advantage ion low cost production. However, particular during financial crisis period, several other initiatives are to be implemented. First the company has to reduce its cost structure in order to face the deep decrease in demand in order to continue to make profits. Panasonic its already leader in this activities, however, there are always margins of improvements. To achieve cost reduction, it has to downsize its workforce. The firm should prioritized certain businesses over less profitable ones. Moreover adopt a lean management in order to reduce at the minimum the wastes in the value chain. Secondly it should restructure its organization to make it as clear and simple as possible in order to avoid cost duplication, slow process and cost of bureaucracy. In addition, The shift of demand and the focus on emerging market, in particular Asian markets, should be the highest priority. The market signaled opportunities in untapped market. The firm should be upfront in order to gain advantages over competition. These is a necessity to shut down plants in Japan and oversea and transfer workforce and capital to new sites. This initiative can also overcome exchange currency risk. Also distribution channels in these countries should be enhanced. However, the company should not forget its heritage: leverage on efficiency. The company should achieve a â€Å"transnational strategy†; incrementing its local responsiveness and innovation and learning, at the same time. Even during times of recession in essential to continue to invest in R&D, with the objective to grow faster than competitors when the market recovers. The main revenues for the companies come from distinct technologies. Local responsiveness could be achieved through the delegation of, even more, profit responsibilities to the three main divisions. This could enhance the company performance and to keep it on the podium. 6. Conclusions The structural variety is function of the environmental characteristics, Organization has to adapt to the external environment. Both companies has gone through several changes in their evolution. Environmental factors pushed companies to rethink their strategy and consequently their organizational structures. In some cases the difficulties encountered in the transition, for instance from an highly integrated company to more responsive, was slow and cumbersome. Both companies has been proved to be reluctant to change. . It is true that the set of strategies a firm is limited by the decisions the company has made in the past, however, these limitation should not be considered as insurmountable. Change can occur and rapidly. Philips and Panasonic lacked the ambition to design solution at 360 °. Firms should learn from their past and continue to leverage on their own competitive advantages, building on existing infrastructure. Do not be captive of your own past, but use your past experience to create a strong advantage, compensating your deficiencies. 5

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