Truth in Management and Power Relationships Essay Example for Free

Truth in Management and Power Relationships Essay Since the beginning, logicians have concocted their forms of the genuine definition for ‘truth’. The Greek logician Aristotle had clarified truth as â€Å"To state of what is that it isn't, or of what isn't that it is, is bogus, while to state of what is that it is, and of what isn't that it isn't, is true† [1]. Aristotle clarifies that fact can be depicted as that something that is clear and unmistakable in its own structure, nature or character. Another Greek critic and rationalist Protagoras held the view that â€Å"man is the proportion of all things, of things that will be that they are, and of things that are not that they are not†[2]. As per him, each person’s assessment of truth is based their own impression of truth. In the acclaimed Greek writer Homer’s epic Odyssey, there is one example when the Greek legend Odysseus didn't really uncover reality when he says â€Å"I will reveal to all of you the truth†[3]. In his stories, there are characters that keep down data or lie. In the current day the executives, we must be careful with respect to how we approach coming clean to our subordinates or partners. There are various situations that we need to consider before uncovering reality. Once in a while, we may wind up in circumstances whereby we need to conceal reality to ensure our uprightness and position in the organization or association. Socrates, an Athenian Greek Philosopher once cited: â€Å"You, old buddy, would you say you are not embarrassed about stacking up the best measure of cash and respect and notoriety, and thinking so minimal about intelligence and truth and the best improvement of yourself which you never respect or regard? [2]† We can identify with his statement in today’s quick paced occasions, when in the mission for influence, riches and notoriety, we will in general overlook our exceptionally essential temperances of being upright and honest. I can cite a case of my own experience while working in a semiconductor organization where my administrator and partner were from Philippines. I used to have reservations at first in opening up to my associates and afterward as the months passed, I began trusting with my Filipino partner in regards to two or three issues I had with the organization the board style and incredibly long working hours. He afterward sold out the confidence that I had in him when he gave all the grievances over to my boss despite my good faith. From that point forward, the organization the executives began to overlook my sources of info and began giving me opposing eyes at each gathering. The exercise we can gain from that was to guarantee that specific realities anyway unwieldy they might be to heft around, we need to guarantee that they remain concealed away because of the intensity and absence of trust among workers in today’s the board. The Greek thinker Plato once said â€Å"You ought not respect men more than truth[4]† however in today’s universe of the executives, the key territories of yield and execution are esteemed more profoundly than the honest standards at work. Force connections assume a significant job in the executives in the current day. These connections have taken on an exceptionally forceful measurement these days with the current harvest of intensity hungry administrators. As I would see it, we have to fabricate such associations with our partners just as our bosses to initially support ourselves for the since quite a while ago run and afterward to guarantee that we keep up a consistent advancement all through our professions. From my own understanding while at the same time working with my past manager, I used to see that my group comprised of predominantly Filipinos, Indians, Malaysians and Chinese. They used to separate into their individual nationality gatherings and remain together consistently while accomplishing work and used to give help and valuable exhortation just to their compatriots when out of luck. Those gatherings continued evaluating negative authoritative governmental issues against one another to guarantee that none of them could develop in the organization in order to achieve by and large force. The authoritative legislative issues at my organization even went upto the higher administration where in the advancements were committed uniquely to their individual comrades and did not depend on capacity or execution. The higher administration even had outright control of the human asset (HR) office whereby the employing of new staff was organized dependent on nationality of the employing chief or director as opposed to offering need to the capability and experience of the newcomers. Citing from Plato, â€Å"The proportion of a man is the thing that he does with power[4]†, in the executives terms, his words connote that a genuine capacity of a director must be dictated by how he uses his capacity successfully with regards to an authoritative situation. The Greek Philosopher Socrates had once stated: â€Å"Esteemed companion, resident of Athens, the best city on the planet, so exceptional in both insight and influence, arent you embarrassed to mind such a great amount to make all the cash you can, and to propel your notoriety and prestigewhile for truth and shrewdness and the improvement of your spirit you have no consideration or worry[2]†. This citation is well-suited in portraying the voracious requirement for riches among the Athenians in those days for picking up notoriety and glory at the expense of their virtues like truth and intelligence. Socrates’ words can even be applied concerning today’s the board style. In the current occasions, considering the aftermath from the monetary emergency and its effect on the associations, directors get significantly increasingly hesitant to follow the honest philosophies and rather firmly take part in fortifying their capacity associations with other various leveled individuals inside their associations to set up a solid decent footing for themselves in the business. References: 1. Owens, J., Doctrine of Being in the Aristotelian Metaphysics. third ed1978, Toronto: Pontifical Institute of Medieval Studies. 2. Spillane, R. , An Eye For An I: Living Philosophy2007, Melbourne: Michelle Anderson Publishing. 3. Thiselton, A. C. , The New universal word reference of New Testament religious philosophy, ed. B. Colin. Vol. 3. 1978, Exeter: Paternoster Press. 4. Stavropoulos, S. , The Beginning of All Wisdom: Timeless Advice from the Ancient Greeks. first ed2003: Da Capo Press.

School Bullying in California Research Paper Example | Topics and Well Written Essays - 500 words

School Bullying in California - Research Paper Example Current approach Jigsaw Classroom This is an agreeable learning method with a multi decade track record of diminishing racial clash and expanding positive training results. In this system simply like in the jigsaw puzzle, each student’s part is basic. For instance, understudies in a history class are partitioned in to might be five gatherings and the errand being to find out about World War 2. In one jigsaw bunch John can be dependable in looking into about the ascent to intensity of Adolf Hitler, May relegated to cover inhumane imprisonments, Alex to cover Britain’s job in the war, Mike to investigate on the commitment of the Soviet Union. In the end each understudy returns to his jigsaw gathering and will attempt to introduce an efficient report to the gathering. In this manner if a part doesn't care for the other he can't excel on the test that follows (Barrows, 1998). This in this way energizes tuning in, commitment and sympathy by giving everybody a basic part to p lay in the scholastic movement. Arrangement Makers Metro Center offers specialized help that uses counsel strategies which constructs solid customer conference relationtionship that bring about continued change and improvement. In this way area and school agents play a functioning job in coming to comprehend and survey their own interests as opposed to depending exclusively on the information and aptitudes outside specialists.

Waitlist Consideration at SIPA COLUMBIA UNIVERSITY - SIPA Admissions Blog

Waitlist Consideration at SIPA COLUMBIA UNIVERSITY - SIPA Admissions Blog I have been meaning to shed some light upon how waitlist process is handled by the Admissions Committee SIPA.   I will start off by saying that the process of considering applicants placed on the waitlist can possibly best be described as “organic.” What I mean by this is that the process of making waitlist offers does not follow a strict format or specific timeline.   Rather, it is a process that has a life of its own due to the fact that availability of seats in the fall class once initial admission offer are sent out is dependent upon factors over which the Committee largely has no control. To provide some background, this year we have given admitted applicants until April 20th to respond to their offer of admission.   Some admitted applicants have already paid enrollment deposits, however past history shows that the vast majority waits until the very last minute.   Thus we will not have a clear picture of responses for another week or so.   Once the enrollment deposit deadline passes the picture becomes clearer, but the picture is subject to constant change over the summer. In past years we have made offers of admission to select candidates on the waitlist as early as April and as late as August.   The reason I describe the process as organic is that we never know when a candidate who has paid a deposit will contact us and let us know that circumstances have changed in a way that will not allow them to enroll. For example, international students sometimes face the unique challenge of trying to complete government paperwork for a Visa.   This process does not always go smoothly and late in the summer we may be notified by a candidate that the paperwork will not be completed on time, thus opening a seat in the fall class.   We have no way to predict this, but with such a large number of international applicants it is not uncommon for this to happen. For other applicants, something unexpected happens and they contact us to let us know they will not be able to enroll and will thus forfeit their seat.   The Admissions Committee obviously has no way of predicting such circumstances. So part one of the waitlist story deals with uncertain circumstance and part two of the story is process.   When we are able to make an offer to candidates on the waitlist, how does the process work? If you are on the waitlist you know that we ask you to fill out a form indicating your interest in remaining on the waitlist.   The vast majority return this form indicating that they do wish to remain on the waitlist, but just like circumstances with admitted applicants change, so do circumstances with waitlist candidates change. Once the enrollment deposit deadline for admitted applicants passes (April 20th) every few weeks the Admissions Committee will meet to evaluate fall enrollment.   After these meetings I will send out emails to those who have chosen to remain on the waitlist providing them with an update.   At a minimum I try to send out one email per month. If spaces are available how are waitlist candidates chosen?   Again it is an organic process.   We do not have number rankings for the waitlist and the size of the waitlist changes over time as candidates notify us that they no longer wish to be considered. When it comes time to consider candidates from the waitlist, files are read once again.   Although a “full read” might not be necessary, Committee members will review reader comment sheets and pay particular attention to areas of concern that were noted during the first review.   As the reading is done, we get a feel for the overall landscape of those on the waitlist and make decisions. Candidates offered admission from the waitlist receive an email from our office indicating that the decision is available on the application Web site.   Those not offered admission remain on the waitlist and continue to get email updates. I realize the process of waiting is not easy.   We will do our best to keep those on the waitlist updated, but as you can see, the process does not give us the ability to provide specific answers at specific times.   In summary, if you have chosen to remain on the waitlist we will contact you intermittently with updates, along with asking if you wish to remain on the waitlist.   The Committee will read files of those on the waitlist “as is” â€" meaning we will not accept additional documents or information for consideration.   Our first update will likely go out before the end of April. Please also note that SIPA is unable to award fellowship funding to those admitted from the waitlist.   U.S. Citizens and Permanent Residents can qualify for Federal and possibly State based aid, but SIPA funding has already been allocated.   I would advise both domestic and international students to review the financial aid information on our Web site so that if we are able to make an offer, you are prepared to complete the appropriate paperwork.

Oil Conspiracy Essay - 1075 Words

Oil Conspiracy It is common knowledge these days that major oil companies are among the most wealthy and powerful entities in the world. Their massive incomes contribute enormously to economies all over the world and this gives them massive pull in these economies. It is no wonder then that conspiracy theories and myths of large scale evil plots surround these major oil producers. They range from the ridiculous to quite believable. Every thing from the deletion of alternative energies from ever making it into the market to wars has been blamed on these major oil companies. Some of them are very believable while others seem a stretch of the truth. Are oil companies really behind these vast conspiracies? Have they really been†¦show more content†¦As it turns out there was in fact big oil in these decisions. The trolley case of California is a classic example. Until the thirties an efficient electric trolley line was in place in many of the major cities in the U.S. the most famo us case of this is the Los Angeles lines that were the largest in the country. â€Å"all this went out the window starting in 1939, when GM got together with Standard Oil of California (now Chevron), Firestone, and other auto-related firms to set up a holding company that bought up trolley lines, dismantled them, and replaced them with buses† (Straight Dope). Chevron did in fact have a large hand in this. Eliminating these trolleys created a fossil fuel dependent system of busses and increased demand for oil driven autos. This was not the only case however, â€Å"1974 one Bradford Snell, a staff attorney for the U.S. Senate antitrust subcommittee, advanced the startling proposition that GM had sabotaged energy-efficient electric transit systems in 45 cities around the country† (ibid). They were actually found guilty of conspiracy â€Å"Government attorney Bradford Snell has written that in 1949 GM and its partners in NCL were convicted in U.S. District Court in Ch icago of criminal conspiracy in this matter and fined $5,000 each for anti-trust violations (contracts in restraint of trade, i.e. forcing subsidiaries to buy products from their owners: GM buses, Firestone tires, Standard and PhillipsShow MoreRelatedTop Five Conspiracy Theories That Catch Everyone S Eyes1275 Words   |  6 PagesTOP FIVE CONSPIRACY THEORIES THAT CATCH EVERYONE’S EYES Wikipedia described Conspiracy Theory as an event or situation that invokes a conspiracy without a warrant. Generally, one involving an illegal or harmful act carried out by the government or powerful actors. The word conspiracy is derived from the Latin words con and spire which means to â€Å"breathe together.† It is a term that initially was a neutral descriptor for any claim, criminal or political conspiracy. Nevertheless, conspiracy theory inRead MoreThe Rise Of The Oil Of Oil, Money, And Power1431 Words   |  6 Pageswars going on for oil, money, and power. Pointless economic wars throughout the countries going on and for what? The government has been providing only a fraction of the free energy sources they possess to keep the oil field booming: and to make matters worse, corporate cities are watching as the president and foreign countries scam the U.S. citizens and continue to destroy the earth with harmful chemicals, while individuals continue to attempt to prove co nspiracy after conspiracy for the reason thatRead MoreThe Rise Of The Oil Of Oil, Money, And Power1445 Words   |  6 Pageswars going on for oil, money, and power. Pointless economic wars throughout the countries going on and for what? The government has been providing only a fraction of the free energy sources they have to keep the oil field booming: and to make matters worse, corporate cities are watching as the president and foreign countries scam the U.S. citizens and continue to destroy the earth with harmful chemicals, while individuals continue to attempt to prove conspiracy after conspiracy because nobody isRead MoreThe Rise Of The Oil Of Oil, Money, And Power1377 Words   |  6 Pageswars going on for oil, money, and power. Pointless economic wars throughout the countries going on and for what? The government has been providing only a fraction of the free energy sources they have to keep the oil field booming: and to make matters worse is the corporate cities are watchin g as the president and foreign countries scam the U.S. citizens and continue to destroy the earth with harmful chemicals, while individuals continue to attempt to prove conspiracy after conspiracy because nobodyRead MoreEssay on The Greatest Oil Man633 Words   |  3 PagesThe Greatest Oil Man The majority of people in the world dislike monopolies. People do not like monopolies because they are allocatively inefficient and because they produce less than consumers want. John D. Rockefeller was a good example of a monopolist from 1880 to 1911. Most people in that time period did not like his company, Standard Oil, and wished for an end to it (micheloud). In 1870, J. D. Rockefeller started the Standard Oil Company. 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His company destroyed smaller and weaker oil companies to become a larger corporation. On May 15, 1911, the Supreme Court of the United States ruled that the Standard Oil Cartel was a menace to the Republic and ordered it to be broken up: For the safety of the Republic we (U.S. Supreme Court) now decree that the dangerous conspiracy must be ended by Nov. 15, 1911 (John D. A Portrait in Oils, p. 154). Rockefeller vowed revengeRead MoreEssay on John D. Rockefeller1369 Words   |  6 Pagesreshaping America. They were the closest thing the country had to a royal family, but the Rockefellers shunned the public eye. For decades, the Rockefeller name was despised in America, associated with John D. Rockefeller Sr.s feared monopoly, Standard Oil. By the end of his life, Rockefeller had given away half of his fortune. But even his vast philanthropy could not erase the memory of his predatory business practices. Who was Rockefeller? Was he a ruthless businessman who only wanted to belittle

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Transforming of South Korean Economy and the “Chaebols”’ Riddle Free Essays

Nadezhda Sarelska ID: 10210680317 EMA- Chinese Economy School of Economics Fudan University Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ riddle Political Economy of East Asia Term Paper Professor Dingping Guo October, 2012 Shanghai, China Table of contents: 1. Introduction 3 2. The beginning of Korea 4 2. We will write a custom essay sample on Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ Riddle or any similar topic only for you Order Now 1. Collective will for success of South Korea 6 3. South Korea and modern economy 7 3. 1 Reasons behind Economic growth 8 4. The Birth of â€Å"Chaebols† 9 4. 1 Factors of Development of â€Å"Chaebols 10 4. 2 â€Å"Chaebol† and 1977 Asian Crisis 14 5. Case Study of Samsung Group 15 6. Conclusion and Recommendation 19 . Reference List 21 1. Introduction South Koreas ‘s significant transformation – an evolution from impoverished to high-income economy during three decades starting from 1960s to 1990s is one of Asian phenomena famous as -â€Å"Four Asian Tigers†- a term used to describe the tremendous performance of four Asian economies – Hong Kong, Singapore, Taiwan and South Korea. Between the early 1960s and 1997s, the four Tigers rapidly industrialized and maintained sustained high growth rates (Ref*1). Today, Korea is an example for a market economy, one highly developed country which ranks 15th in the world by nominal GDP and 12th by purchasing power parity (PPP), identifying it as one of the G-20 major economies(Ref*2). In 2010, Korea’s trade volume amounted to US$892 billion, ranking the country the 7th largest exporter in the world(Ref*2). Korea’s shipbuilding sector currently accounts for about 34% of the world’s total shipbuilding orders. As a major auto manufacturer, Korea produces over 4. 2 million vehicles annually. The success of South Korea is often called â€Å"The Miracle on the Han River† and it has been identified by several factors where the presidency of Park Chung-Hee (1961-1979) played a vital role. Under the President Park Chung-Hee’s era, the government played a dominating role in a country’s economy. His policies of shifting away the focus from import substitution strategies towards export- orientated industrialization and technical progress, favored the development of South Korean economy and establishment of a strong business environment appeared with a result of large conglomerates called â€Å"Chaebols†. To be defined as a â€Å"Chaebol†, an organization should satisfy two conditions: it should be owned by family /relatives members and it should have a diversified business operations ( REF*3). The â€Å"Chaebols† have created such a diversification that, as Anna Fifield said in her article, – â€Å"You can be born in a Samsung hospital and end up in a Samsung mortuary† (Ref*4). The giants of yesterday are one of today’s best brands in technology field as Samsung, Hyundai and LG. They and the other â€Å"Chaebols† was the core of Korean spectacular growth and still their success can be accepted as South Korea’s success. How and why Korean’s economy was shaped by historical events and what are the reasons behind â€Å"Chaebol† establishment? What was the impact they have created over South Korean economy and could we say â€Å"Chaebols†are the reason for â€Å"the Miracle on the Han River. â€Å"? Case study of Samsung will be performed in order to give us better understanding of one of the largest and famous â€Å"Chaebol† ever and its influence over South Korean economy. 2. The Beginning of Korea The land of the morning calmâ€Å"–this is the meaning of Korea’s original name â€Å"Choson†. The time of establishment of this country and its exact geographic location is still a matter of scientific research even it often believed that human activity in Korea can be traced far into the Pal eolithic period, about 500,000 years ago (Ref*5). In Asia, Korean’s history is known to be second longest following that only of China. (Ref*6) But there is a belief, according to the Korean legend, that the God-King Tangun – a legendary figure born of the son of Heaven, (which existence is still disputable among scholars) and a woman from a bear-totem tribe founded the Korean nation in BC 2333(Ref* 7). Not many present- day nations can be praised with so long and rich history even this country’s time has been shaped by difficult and frequent invasions ( as many as 900 by some accounts)( Ref*6), wars and influence from its neighbors. The beginning was often said to be the time of â€Å"The Three Kingdoms† – â€Å"Silla† â€Å"Goguryeo† and â€Å"Baekche† where â€Å"Goguryeo† was known to occupy the Northern part of the peninsula from the Chinese border to the Han River, while â€Å"Silla† and â€Å"Baekche† have dominated the Southern regions (Ref. 11). But in 668 AD â€Å"Silla† (668-935) unified the Korean peninsula and start developing a country with an economy, a culture and Buddhist philosophy. † Koryo dynasty† from which the English name â€Å"Korea† originates succeeded â€Å"Silla† in 935 and the country’s boundaries reached level which is very similar to its current size today. â€Å"The Choson dynasty† displaced â€Å"Koryo dynasty† in 1392 and moved the capital to Hanyang-gun (today’s Seoul) in 1394. Soon after Confucianism replaced Buddhist philosophy and was adopted as the country’s official religion and â€Å"Hangul† -the Korean alphabet was invented. Korea’s history was filled with prosperity, but also a lot of suffering coming from external forces like Japan, Mongolia and China and this provoked Korean closed-door policy, famous as â€Å"Hermit kingdom†. In the beginning in 1876, the Japanese forced a series of Western-style trade agreements on Korea, leading to Japan’s annexation of the country in 1910. Due to growing anti-Japanese sentiment, in 1897 King Kojong declared himself to be emperor of the Taehan Empire, an independent Korea (Ref*9). Eventually this move helped Korea to preserve its own language, culture, traditions and sense of identity (Ref*6). However, during the Russo-Japanese War (1904-1905), Japanese forces moved onto the peninsula despite Korean declarations of neutrality and Japan-Korea Protection Treaty in 1905 gave Japan virtual control over Korea. Korea was colonized by Japan in 1910 year, but exactly at that time many modern aspects of Korean society emerged included rapid urban growth and infrastructure, the expansion of commerce, and forms of mass culture such as radio and cinema, which became widespread for the first time. Later had to endure the Korean War (1950-53), but it has achieved amazing economic growth in a short period, dubbed â€Å"the Miracle on the Han River. (Ref* 2) 2. 1 Collective will for success of South Korea During Japanese influence starting 1920 and later (1937-45) – harsh measured reintroduced by Japanese, Korea had to go through a lot of confusion coming from changes in values and social order after Japanese colonial rules was introduced (Ref* 610). During its occupation, Japan b uilt up Korea’s infrastructure, especially the street and railroad systems. However, the Japanese ruled with an iron fist and attempted to root out all elements of Korean culture from society. People were forced to adopt Japanese names, convert to the Shinto (native Japanese) religion, and were forbidden to use Korean language in schools and business. Also the temp of development was rapid and the country’s population was inexperienced and unprepared in economic aspects and knowledge because was coming for monarchy of over 1000years compared to Europe and Japan. Ideological confrontation was visible in Korean society and soon after status of families with long traditions; history and wealth were no more subjects of respect and power, society followed the â€Å"money ideology† which was a way of survival. Soon after the democracy was introduced by USA in August 15, 1945, with the end of World War II, The Soviets and Americans failed to reach an agreement on one unified country and government, so in 1948 two separate governments were established – the Republic of Korea in Seoul called -â€Å"The American zone†, and the Democratic People’s Republic of Korea in Pyongyang, North Korea called -â€Å"The Soviet zone† (Ref* 10). This is how the challenge for South Korea and â€Å"The American zone† has started with era of knowledge, where an investment of fond and solid education and hard work were again respectable, thus offered an equal chance to success to everybody despite their origin and status. The whole society desired a better life and this is how they have adopted the concept that â€Å"economic development is a cultural product representing the collective will of the people† (Ref*6). 3. South Korea’s modern economy In July 1953, after three years of bloody fighting in which around three million Koreans, one million Chinese, 54 000 Americans and several other nations including Turkish were killed, the Korean War ended in a truce with Korea still divided into two mutually antagonistic states – American influenced zone in South and Soviet influenced in North, which were separated by a line called â€Å"De-Militarized Zone† (DMZ). Korea has remained divided ever since(Ref*10). After the official division of Korean peninsula, a modern economy study was introduced by USA in South Korea which was differentiated from Marxism idea popular in Japan. However, after 1965 when Japan and South Korea improved their diplomatic relationships, Marxism prevailed into their economy simply because was more community oriented, instead individualistic – something which was and it is a basic concept of Confucianism which was influenced South Korea in their earlier stages of history. The ideas of individualistic consumer with no intervention of government for business were too far away of Japan’s model of successful rapid grow which later in years South Korea adopted and adapted into their economic situation Table 1 – Comparison between USA and East Asian capitalism 3. 1 Reasons behind Economic growth Mutual desire for better standard of living and a chance for success were deeply rooted into society’s mind, after the country was left in poverty in the end of Korean War in 1953. The significant growth of South Korea’s economy which became independent in 1945 began in May of 1960 – when Park Chung Hee and a group of other military officers of the South Korean army took over the control of the government or â€Å"coup d’etat†(Ref* 11). Soon after that in 1961 Mr. Park Chung Lee became president of South Korea and the strategic planning for economic development started – focusing on lifting up the South Korean economy out of poverty. The strategy Park Chung Lee developed was based on that of South Korea’s nearest rivals Japan rather than Western policy advisers. (Ref*12) Export –oriented policies were implementing as a tool trying to focus the shift into international business. South Korea simply had to survive and find a way to expand economically, but looking outside of its peninsula because with its small and limited land and natural resources caused from its mountainous terrain and climate, as well the small size of the domestic market shaped the Paradigm shift in their economy†. (Ref*13) The emphasis was added on communal productivity, education and quality as Japan did with examples of so called Keiretsu. Another measure was the military-dominated government which installed itself after the coup in 1961 quickly announced an end to the corruption of the First Republic and its intention to use economic growth and development through industrialization to legitimize its authority (Ref* 14) a nd implementing state policies providing the basis for successful late industrialization( Ref*15). Twenty four of the leading businessmen were arrested. The founder of Samsung, Lee Byung Chull, escaped this treatment only because he was out of the country at the time. When Lee Byung Chull returned to Korea he met with Park and agreed to cooperate with Park’s economic development program. Later Lee and other prominent business leaders offered to donate all or a substantial portion of their fortunes to the government. They ended up paying fines but not giving up their businesses (Ref* 15). 4. The Birth of â€Å"Chaebols† In the process of export-led market economy the government ruled by President Park Chung Lee for 18 years reign (1961-1979) decided to work with five- year’s plans, starting the first one in 1962 which was focused on developing the industrial base and setting the stage for South Korea’s economic prosperity. (Ref* 16) After this step, the government encouraged their local, domestic business enterprises to work and expand by choosing which markets must be developed and allow entry only to several of those local companies. To be accepted as â€Å"Chaebol† a company need to be family-owned and usually this type of organization is influenced by growth-oriented family-centered business, where family male has the dominant role in a hierarchy and almost unlimited power to which his subordinates are loyal (Ref*17). This idea of Pyramid frame of working had an origin of Confucianism which teached several concepts as social hierarchy, harmony and â€Å"the concept of saving face†, kindness and care; modesty and diligence. For instance, in Japanese companies â€Å"had more visible mutual obligation which is unlikely to be seen in â€Å"Chaebol† structure, where the boss is superior compared to employees. As an incentive for local companies, financial motivations were offered such as low- interest loan, tax breaks and others simply because all the banks were nationalized as well for the purpose of economic development. This is how so called â€Å"Chaebols† -which literally mean â€Å"business association†, were born into South Korean history. 4. 1 Factors of Development of â€Å"Chaebols† With its fast speed of industrialization, the economy nourished and supported heavily â€Å"Chaebols† which were often â€Å"family-centered† enterprises. Their brands, products and companies diversified quickly and soon they were responsible for the majority of the exported products which simply meant that private owned companies were responsible for biggest share of South Korea economic development. Not only have they expanded in international level, but also started to grow bigger in local land. Brands like Samsung, Hyundai and LG were a measure for quality, technology and innovation. We could say that even today the same conglomerates are still driver force in Korea. Another â€Å"significant economic decision made by government’s planners was to focus market development through export-oriented industrialization â€Å"(Ref* 18). Because of its enough to produce, but less to consume population and still not existing local markets, all efforts were putting into creating international markets where South Korea could have an advantage and generate a profit. The results started to be visible in fast digit rate at average 10% annual growth between 1962 and 1994. The large and fast expanding multinational conglomerates enjoyed strong support from government and good success of foreign markets. While the contribution of agriculture to the economy declined from 37% in 1965 to 3% in 2008, the industrial sector increased its contribution from 20% to 37%, that of services from 43% to 60% and exports remain the cornerstone of this economic development with their share in GDP accelerating from 8% in 1965 to a whopping 53% in 2008(Ref* 13). Table 2 Share of Top 30 â€Å"Chaebols† in South Korea’s GDP Source â€Å"Chaebol Powered Industrial Transformation† by Ahn Choong-yong, Korea Institute of Public Administration and Korea Times. April 2010 All the conglomerates were liberally permitted to access foreign loans promoted by the government to support fast-paced economic development, while in contrast outflows of domestic capital were effectively curbed ( Ref* 19). The Foreign Direct Investment (FDI) was also restricted in order to keep positive economic growth, except in cases where technology and know-how were involved. In exchange of this, all the â€Å"Chaebols† were obliged to fulfill ambitious plans and to develop for the next three decades. This financial help actually protected the companies from bankruptcy and soon they turned on into â€Å"octopus†, regulating and expanding into more and more branches, industries and brands, even not related to their core scope of business; increasing their power and wealth into public level and became too difficult their decisions to be influenced. For example, a ship building company could decide to enter into a market of cosmetics products or pharmaceutical industry. Of course, simultaneously they opened more factories, created jobs and promoted economic boom. Basically they became a voice in South Korea. In this manner they grew so large that the top fifty â€Å"Chaebols† had sales equivalent to almost 94% of the total national GDP by 1984( Ref*20). In fact as a second measure introduced from President Park Chung Lee was diversifying of â€Å"Chaebol† into heavy and chemical industries, simply to be protected from North Korea . ( Ref*21)As we can see on Table 2, their share in GDP increased dramatically from 9,8 % in 1973 to 29,6% 1989 Table 3 The Growth Rate and Total Factor Productivity by country According to International Institute for Management, South Korea is ranked 5th in terms of education level, with 40 percent of the population completing higher education after high school. This movement into very strong foundation of education was resulted of democracy brought by USA , President Park Chung Lee’s reforms, but also Confucianism’s which, was earlier in history, influenced the social mind of South Korea. Understanding that high level of education and qualified human resources are powerful driver of economy and quality was one of the best tools for sustainable growth. Education system which was a resource highly appreciated by traditional values in the society and was a chance for everybody in quest of success. Moreover, South Korean workers work more hours of the day than most countries reflecting 10 to 13 percent increases in productivity per year( Ref*22). The willingness of hard-working and co-operating were very important for the efficacy and quality of the economic boom. Krugman (1994) claims that the â€Å"Four tigers† achieved the rapid growth rate because they successfully managed the resources associated with high employment share to population, efficacy of work, up-graded educational standards and the high rate of investment(Ref*19). Looking into Table 3, it is clear that South Korea achieved the highest grow rate of 8,5% per cent annually from 1960 to1994. Table 4 Domestic Saving per GDP (per cent) Another tool which helped â€Å"Chaebols† to flourish was high-saving ratio, which was initially originated from uncertain life conditions and missing social system. In Korea the social welfare system was not well established (Ref*23). In this kind of situation, similar to China’s beginning, individuals are trying to save as much as they can in order to ensure their future. Furthermore, high savings and investments also contribute to capital accumulation. For example, Kim and Lau (1996) extend their input-analysis which covers Indonesia, Malaysia, Thailand and the Philippines reveal that capital accumulation associated with high domestic saving and investment level significantly contributed to strong growth in East Asia. Also, Collins and Bosworth (1996) emphasize that saving, investment and government policy are the main contributor to high capital accumulation ( Ref. 19) 4. 2. â€Å"Chaebols† and 1997 Asian Crisis The financial crisis that hit Asian countries in early July 1997 was an unexpected situation for â€Å"Four Tigers† including South Korea which were witnessed a rapid and sustainable growth in several decades in row, offering high standard of living into their citizens, high annual growth and successful export economy. They were accepted and perceived as models of economic boom. A lot of foreign investment were flowing and then government help like bank loan , preferential policies and incentives which were used to stimulate the economy through so called multinational companies â€Å"Chaebols† . All this led to excessive diversification, a debt, a difficulty to be measured the credibility of a company and its real proportion due to unlimited bank loan with 0 interest they were given; lack of business transparency, superior managerial behavior and more. All these reasons led to so called† â€Å"Asian Contagion†, this was a series of currency devaluations and other events  that spread through  many Asian markets. As a result of the crisis, South Korea adopted different protectionist measures, government and financial reforms to ensure the stability of their own currency and reforms inside of â€Å"Chaebols† structures. ( Ref*24). 5. Case of Samsung Group Samsung Electronics integral part of is a multinational, family-owned company with headquarters located in Samsung Town in Seoul called â€Å"Samsung Group†. Samsung Group has grown to become one of the world’s leading and respectuful electronics companies, specializing in digital appliances and media, scycrapers, petrochemicals, fashion, medicine, hotels, semiconductors, memory, and system integration. Ref *25). As journalist Anna Fifield said in her article, – â€Å"You can be born in a Samsung hospital and end up in a Samsung mortuary† (Ref*4). They operate in more than 65 different countries as sales and plants; also they are responsible for appointing for more than 170,000 employees worldwide. In 2009 t he company was classified as largest IT Company in world with biggest sales revenue of memory chips, LCD and LED displays. For TV and smart phones devices markets, Samsung is in top position, especially after launching Galaxy 2 Note competing with Apple and theirs I pad mini and I phone. Its growing share in smart phones and tablet’s market is very high with around 20% for the first quarter in 2011 compared to 16, 1% in same time previous year. [pic] Brief history and Economic Overview The Samsung Group was established in 1938 in Taegu, Korea by Byung Chull Lee and its main scope of business was export of fish, vegetables and fruits to Mainland China. In 1951, Samsung Corporation was officially established with name Samsung Moolsan which means â€Å"Three Stars† (Ref*25). The company started to grow and later in 1958 when Ankuk Fire Marine Insurance as well DongBang Life Insurance in 1963 was acquired, the name was changed into Samsung Fire Marine Insurance and respectfully Samsung Life Insurance. In 1969 Samsung Electronics and Samsung Sanyo Electronics were established, but in 1977 they also merged and diversifying started into heavy, chemical, shipbuilding, IT and other industries. The reasons behind such a diversification could be the same between all â€Å"Chaebols† examples, but very true for Samsung. They assumed that if investing into new business or a product will avoid potential risk of a single bankrupt, gaining knowledge for a technology and know-how patents; competitions and bigger market share and another factor could be because of persuading better wealth in order to ensure all the family members. ( Ref* 21) Thanks to its clever moves and business/political decisions Samsung developed excellent domestic and international market and 1974 they bought 50% of share of Korea Semiconductors, which gave them the first place of semiconductor manufacture SWOT ANALYSIS Samsung Group is one of the largest â€Å"Chaebols† in South Korea with world-class quality products and brand. The company has dominance into digital and electronic components markets, with more than 40 existing affiliated companies. Fig. 1 SWOT ANALYSES – Samsung Group STRENGTHS Strong brand and loyal customers; Leader in several markets as IT and electronics; Excellent supply chain; Capital; Confidence; Trustworthy and Credibility; Innovation; Technology level and skilled worker HR; Product Strategy WEAKNESS Serious Competition; High Marketing cost; Managerial Behavior; Centralization; Corruption OPPORTUNITIES Good economic conditions; highly disposable income local market; Government support; International relations and business expanse; Technology development THREATS Patent’s legislations; Regulatory issues; Technological changes; Economic Crisis; China Table 5 Samsung Electronics Marketing Expenses Marketing Mix for Samsung Group – 4P Product Strategy – Samsung’s diversified line of products in 3D market for example which is offering LTD, LED and Plasma TV is one of best positioned into product strategy. Their electronic market is also very good example for product strategy which is one of their strengths in SWOT analyses Focusing on unique products and innovation to compete like 3D Plasma TV with unique design and functionality allowed Samsung to became a leader into this direction. Another very well presented idea of their product strategy is smart phone Galaxy Note 2 which competes directly with Apple’s I pad mini. Among some of the benefits of Galaxy Note 2 is its display, price, Android operating system, Bluetooth, slightly lighter, removable memory, flash, front camera/rear camera and few more. Ref* 26). At the moment this is the best tablet produced by Samsung and as product strategy unique was chosen and improvement inside of the functionality. Price strategy – Samsung strategy according their pricing is being available for more consumers than I pad mini/ I phone, which is persuaded as a luxury and fashionable product, thus its price differentiates – some times even double less expensive. Another factor regarding price is that Samsung produce a big amount of it’s and also Apple’s components’ which results into higher cost and price for Apple’s products on market. Thanks to diversification mentioned earlier we can see that Samsung actually have the advantage to produce by themselves most of the electronic components of their smart phones/ tablets, but also to their competitors, so they became superior in the Pyramid. Promotion strategy: This is one of most weak part of SWOT Analyses of Samsung, because it cost billions of USD in advertisements and promotions which are conducted in three continents – Europe, Asia and USA. 8 billion USD were spending in Europe compared to 3 billion in Asia and 12 billion in North America. Using famous American singer/groups such as Black Eyes Peas into their promotion strategy is adding high cost for the â€Å"Chaebol†. Product Placement: The strategic idea here is that Samsung tablets Galaxy 2 Note are not positioned on the luxury market, but at the same time will not be sold in low-level stores as Wal-Mart. Targeting young people across three continents, Samsung focused on uniqueness, creativity, design and promotion. Apple’s product focuses on luxury and fashionable segment of the market where consumers are ready to pay more premiums. Conclusion and Recommendations Transforming South Korea’s economy was an experiment and example of â€Å"Tiger measures† conducted by the government of President Park Chung Hee in quest of best way to expand the economy in sustainable way and improve the quality of people equally. Focusing on export-oriented economy with solid foundation of education, willingness of hard-work, high saving ratio and allowanc e of private family- own enterprises in national sectors and important industries helped â€Å"The Miracle on the Han River† to become history of success. Chaebols† were and still are enormous part of South Korean Economy, which for three decades created a country -an example for a market economy, which ranks 15th in the world by nominal GDP and 12th by purchasing power parity (PPP), identifying it as one of the G-20 major economies (Ref*2). In 2010, Korea’s trade volume amounted to US$892 billion, ranking the country the 7th largest exporter in the world(Ref*2). Korea’s shipbuilding sector currently accounts for about 34% of the world’s total shipbuilding orders. As a major auto manufacturer, Korea produces over 4. million vehicles annually. The majority of export related goods are produced by top â€Å"Chaebols† companies which appeared in late 60s after government of Park Chung Hee offered them unlimited incentives and industries in exchan ge of economic growth with 10% on average. The impact of those conglomerates was measurable and visible, even though 1997 Asian crisis shaped up them and reformed these â€Å"octopus† inner structures by implementing more transparent policies and less corruption. Nowadays â€Å"Chaebols† are still the driver of South Korean’s income and economy. As recommendation for the largest â€Å"Chaebol† at the moments, Samsung Group- focusing on innovation and technology improvement will be useful, because China is starting to emerge and also other competitors are weak point for Samsung. Combing their efforts could be a good strategy in order to protect South Korean’s reputation and export share. Focusing on domestic market and not being so dependent on export. Or being sure that export is enough diversified to keep the profit. Reducing Marketing cost via cheaper, but creative techniques to attract and keep customers. Because for quality there is always a market! Reference List: . Fogel, R. W. (2005). Reconsidering expectations of economic growth after World War II fromthe perspective of 2004. IMF Staff Papers, Vol. 52 Special Issues, Washington, DC:International Monetary Fund. 2. Published by Korean Culture and Information Service Retrieved October 2, 2012, from http://www. scribd. com/doc/85568568/Facts-about-Korea-Eng lish 3. Retrieved October 3, 2012, from https://www. fsb. muohio. edu/mis399/student/Reading%20files/history-china-korea-japan. htm . 4. Fifield, A. (March 26, 2008). http://www. ft. com. In Korea’s Bulldozer must clean up the Chaebol. Retrieved October 14, 2012, from http://www. t. com/intl/cms/s/0/97182b8e-fb3f-11dc-8c3e-000077b07658. html#axzz2LbBBYYrW. 5. http://www. lifeinkorea. com/information/history1. cfm 6. Choo, Myung-Gun. 2000. Chapter 4: South Korea: the Tragedy of Partition and the Response, in  The New Asia in Global Perspective, p. 74-5 7. https://www. fsb. muohio. edu/mis399/student/Reading%20files/history-china-korea-japan. htm. Retrieved October 3, 2012 8. ,, 9. http://www. lifeinkorea. com/information/history1. cfm 10. http://afe. easia. columbia. edu/main_pop/kpct/kp_koreaimperialism. htm 11. Education, Wikipedia , Retrieved October 9, 2012, from http://en. wikipedia. rg/wiki/Park_Chung-hee 12. Hattori, T. ,1986 â€Å"Comparison of Large Corporations in Korea and Japan, â€Å" in Hakjon Lee and Kuhyun Chung, eds. , The structure and strategy of Korean Corporation ( Seoul, Korea: Bupmunsa, 1986)p. 151 13. November,2010. , The Chaebol in South Korea: Spearheading Economic Growth. ,Thomas White International, Ltd, Retrieved October 12, 2012, from http://www. thomaswhite. com/explore-the-world/emerging-market-spotlight/2010/south-korea-chaebols. aspx p. 2 14. Kae H. Chung, Hak Chong Lee, and Ku Hyun Jung, Korean Management: Global Strategy and Cultural Transformation ( Berlin: Walter de Gruyter, 1997) p. 15. Retrieved October 15,2012, from http://www. sjsu. edu/faculty/watkins/park. htm Sources: †¢ Clifford,  L. M. Troubled Tiger: Businessmen, Bureaucrats, and Generals in South Korea, M. E. Sharpe, Armonk, New York, 1994. †¢ Hee, C. P. To Build a Nation, Acropolis Books, Washington, D. C. , 1971. †¢ Hee, C. P. The Country, The Revolution and I, Hollym Corporation Publishers, Seoul, Korea, 1970. †¢ Hee, C. P. Our Nation’s Path: Ideology of Social Reconstruction, Hollym Corporation Publishers, Seoul, Korea, 1970. 16. Jasper, Kim Crisis and Change : South Korea in a Post-1997 New Era ( Seoul: Ehwa Womans University Press, 2005)p. 7 17. March, 2006. , The Case of Chaebol Cult, Asian Management, Retrieved October 5, 2012, from . PDF version 18. Jasper, Kim Crisis and Change : South Korea in a Post-1997 New Era ( Seoul: Ehwa Womans University Press, 2005)p. 17 19. http://ecostat. wordpress. com/2012/08/19/capital-accumulation-or-total-factor-productivity/ 20. Fields. J. K. , Enterprise and the State in Korea and Taiwan ( Cornall University Press, 1995) p. 35 21. Ahn(2001), pg420and Pn, E. ,†South Korea’s role in a dangerous neighbourhood† http://www. nytimes. com/cfr/international/slot3_021106. html 22. (2006, 03). Korean Economy. StudyMode. com. Retrieved October 15, 2011, from http://www. studymode. com/essays/Korean-Economy-83006. html 23. Choo, Myung-Gun. 2000. Chapter 4: South Korea: the Tragedy of Partition and the Response, in The New Asia in Global Perspective, p. 79 24. Education, Investopedia Retrieved October 18, 2012, from http://www. investopedia. com/terms/a/asian-financial-crisis. asp#axzz29i6XywR2 25. SAMSUNG Group Official WebPage, Retrieved October 3, 2101 from http://www. samsung. com/us/aboutsamsung/corporateprofile/history06. html 26. http://tablets. venturebeat. com/compare/46-123/Apple-iPad-2-with-Wi-Fi-3G-vs-Samsung-Galaxy-Note-10-1 How to cite Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ Riddle, Essay examples

The ancient Mediterranean worlds Essay Example For Students

The ancient Mediterranean worlds Essay An art piece that is interesting as well as being discussed amongst others is that of the ancient Mediterranean worlds. The piece is Toreador fresco, from the palace of Knossos. The period for toreador is around 1500 B. C. E. The palace at Knossos is of the Minoan culture; therefore, the Toreador was created by an artist of this region. Many of the frescos have been found around the Mediterranean basin, particularly in Morocco. Some historians believe that the fresco artists were from Crete and were sent to Morocco as part of a trade exchange. The palace of Knossos was built with four wings made of ashlars blocks. The Toreador which is the most famous fresco was presented on a block in the religious wing of the palace. The Toreador is known to represent a sacred ceremony in which individuals jump over the backs of large bulls. The Toreador presents the special animal of the Minoans, the bull. Toreador refers to as being a bull fighter. The picture explains to the onlookers that bullfighting in this era and culture is different from that of the Spanish and American way of bullfighting. The toreador shows three bullfighters; one in front of the bull grabbing the horns, perhaps getting ready to vault over the bull. The second person in the fresco is in the position of vaulting over the bull. The third person presented in this fresco is behind the bull with open arms, possibly awaiting to catch the acrobat who is on the bull. The graceful curves of the bulls back, the bulls underbelly, the tumblers arched body; reinforce the experience of motion, captured to the split second. Most frescos represented a certain religious ceremonies. Fresco painting is known as the only threaded that can be continuously traced throughout the entire history of painting as a form of expression stitching together the universal language of art. During the Renaissance fresco was referred to as the mother of all Arts, which means the art speaks for itself.