History of Economics Essay Example for Free

History of Economics Essay Economics is the constituent of social sciences which studies the economy and its elements. The main elements of economics are production, distribution, and the consumption of certain goods and services. And its main objective is to allocate the scarce resources effectively and efficiently. Scarcity refers to the economic concept that reflects that the resources are insufficient to full fill the wants and needs of all the people. In this paper the concepts of surplus and its effects on the economy would be discussed. Surplus is the situation in which an excess of something is achieved. For example the value or the amount provided after the requirement for something is satisfied or the remainder of particular thing after the purpose is met (Danielson, 1994). The industrial take off in the 18th century was considered due to the need which was developed to produce in excess. The industrial revolution which was brought forward was the result of an influence made by the capitalists regarding the generation of sufficient surplus as the source. This idea developed the concept of producing more than one requires. Europe is considered as the leader for the revolution as it had the sufficient supply of resources to cope up with the increasing demand for the growing industries. The main purpose of developing industries was to produce and cope of with the demands of product by the people. Previously there was no concept of producing more than one required to satisfy the need for one self only. But as the people started to become more and more liberal the concept of producing more than required was built. Industries with there extensive research and resources started developing goods and services to gain more profits and to satisfy the needs and wants of the prospects. This reflects the role of surplus in the development of industries in the late 18th and the 19th century, which came out to be the main cause for the change in the methodology used previously for production. (Danielson, 1994) Francois Quesnay is another great scholar known to have made contributions in the economic studies in the era before the eighteenth century. He published the Economic Table which aided in explaining the working of the economy, and which is considered as one of the first attempts made to the economic thought. In the table he described three classes, landowners, farmers, and the sterile class which he assumed consumed everything the farmers produced with no left over surplus. Quesnay assumed that it was only the farmers that could produce a surplus, and which could be used in the next year to produce more and aid in growth, and he emphasized more on the agricultural sector than the manufacturing sector which has not yet developed. This point of view of Quesnay differed from that of Smith in regards to a surplus in the economy (Kurz Salvadori, 1997). Proceeding to the history of economics, the person who is known as the father of modern economics was Adam Smith. The concept of the well being of the society and the economy by the description made upon rational self-interests. Smith addressed upon bringing nation’s prosperity through the means of improvement in the methods of production in his book. He claimed that the surplus in production could be in general and not only in the agricultural sector. And to conceive higher profits it is required by the industries to gain surplus as profit is to be considered as the second component of it. For which achieving surplus would result in recovering cost effectively (Kurz Salvadori, 1997). Jean-Baptiste Say was a French business man and an economist in the early eighteenth century. He was the originator of the Say’s Law which describes that the supply creates its own demand, and the supply is not influenced by demand and supported the free trade and competition, and the lifting of restraints levied on the businesses. Say emphasized upon the concept that the supply creates its own demand, because he believed that the person’s ability to demand products is dependent on his disposable income which he generates from his own attributes in production. His point of view regarding surplus was similar to of Adam Smith in context that he accepted the concept that the surplus could be achieved in any product. Insufficient demand could be due to a misdirected production and result in an excess of a product in the market known as surplus. This perception of Say made his views different from that of Smith and Quesnay. Wood Kates, 2000) Proceeding to the conclusion to the different view presented by the three scholars Francois Quesnay, Adam Smith and Jean-Baptiste Say, it can be deduced that all had different perspectives according to their era with reference to surplus. Quesnay had a different set of mind and assumed his theories based upon the industries present at his time. Smith and Say were present in the similar time but had different aspects surrounding them. For which their theories differed from each other, but had similarities, because of being situated in identical time period.

Does Alternative Medicine Really Work?

Does Alternative Medicine Really Work? Eduardo Gomez Mr. Thomas Corbet Alternative medicine range from herbal remedies to acupuncture and were typically used by people who are unable to use conventional medicine. However, today many people use alternative medicine because they fear big pharmaceutical drugs or cannot afford the rising cost of healthcare. People claim that alternative medicines work and heal them of illnesses but do alternative medicines really work when compared to conventional medicine? In a recent study, it was found that about 40 percent of United States adults use some of the following forms of alternative, medicine mind-body interventions, biologically based therapies, body-based methods, or energy methods. These methods of medicine became appealing to adults during the early or mid 19th century as they were markets as safe and natural methods. During this time alternative medicine actually competed with conventional medicine. However towards the end of the 19th century, alternative medicines were denounced as medical breakthroughs helped doctors understand the human body better. In todays society, alternative medicines have again gained popularity for two reasons, one is when they are marketed as safe because of the fear of vaccinations or super bugs that have developed because of some conventional practices(Ventola). Another reason is the gap between physicians and people today. In the United States, the cost of health care is incredibly high so many Americans resort to alternatives that are cheaper. Americans also have access to the internet, which allows people to spread false information about conventional medicine. For example, many people believe that vaccinations and antibiotics have links to cancer and therefore use alternative medicine instead of conventional methods. Alternative medicines range from an array of practices. Mind-body interventions include therapies such as hypnosis, meditation, yoga, biofeedback, and tai chi. According to a 2002 survey, 62% of adults in the United States use mind-body interventions. However, this practice is often only used on people with low physical and emotional risk whose condition is implemented by stress (Wahbeh). Therefore for physical conditions rather than emotional conditions, mind-body interventions loses to conventional medicine. Biologically based therapies include the consumption of herbs, foods, dietary supplements, and natural products (Ventola). The ideas behind the practice is to consume products that are rich in vitamins and minerals to help your body. Although over the years, many trials have been done on these therapies but only few have proven to be 100% effective. Some products such as herbal teas or cartilage of sharks are helpful by providing the body vitamins or minerals that you might be lacking. Thus, this type of alternative medicine could prove to beneficial over time. However for more immediate care to a health issue, conventional medicine would be more useful. Body-based methods which include massages, chiropractic, and osteopathic manipulation are proven to be as affected as conventional medicine. This practice focuses on allowing the body to heal itself by using force and massage therapies on bones, joints, and tissues. Patients of chiropractors and massage therapist have been completely satisfied when they are dealing with back pain or other issues. The problems with this practice is that many schools do not teach manual therapies for specific conditions and there lacks state of the art equipment for specific treatment (Rosenheck). Body-based therapies are very useful to patients around the world and sometimes are better than conventional medicines. Energy methods is most likely the alternative medicine that people find most skeptical.   The method in cludes Reiki, therapeutic touch and electromagnetic field exposure. Each of the therapies deals with a person either touching you or waving their hands over you body. The science behind the specific method of trying to heal someone body is questionable, however the therapies causes you to relax. Therefore the therapies may prove to be effective since relaxation can fix many health issues such as health disease. These practices of alternative methods are sometimes questionable but do prove to cause relaxation which is extremely beneficial to health issues. The effectiveness of alternative medicine is debatable. Many of its methods lack the science behind it when compared to conventional medicine. Therefore some people find it easier to use and believe in conventional medicine. The main reason behind the success of alternative medicine is the ability for a person to relax. Each method is easy to take part in and often involves the person being stationary. For example, some conventional methods are time consuming and difficult as alternative methods are usually easy and quick. Alternative medicine allows the person to relax which is extremely beneficial to the human body. However, in order to compare the effectiveness of alternative and conventional medicine in a person, we must look at that persons state of mind and their condition. If a person believes they can be cured using therapeutic touch then they will most likely be cured but if a person believes in doctors than any medication they are prescribed will most likely heal them. Hosp ital settings may also interfere with a persons ability to heal properly and therefore alternative medicines that can be done at home are often times better for the person. The patients desire to be healed and their beliefs play a crucial role when determining the effectiveness of each practice. The condition of the patient also plays a role because some conditions may require immediate attention which can only really be proved by conventional medicine. Serious conditions are better handled when using conventional practices when compared to alternative practices. The decisions ultimately comes down to the patient and how they want to be treated. Personally, I use and believe in both conventional and alternative medicines. I seek alternative medicines when they are appropriate because of the fear of superbugs or the side effects of conventional medicine. However, conventional medicine is also extremely useful and better suited for serious health issues. Therefore, people should take into account the situation, chose alternative or conventional medicine for what is better suited for them and be the own judge of the medicines effectiveness. References Ventola, C. Lee. Current Issues Regarding Complementary and Alternative Medicine in the United States. Pharmacy and Therapeutics. MediMedia USA, Inc., 8 Aug. 2010. Web. 14 Dec. 2016. Wahbeh, Helanà ©, Siegward-M. Elsas, and Barry S. Oken. Mind-body Interventions: Applications in Neurology. Neurology. U.S. National Library of Medicine, 10 June 2008. Web. 02 Jan. 2017. Rosenheck, Druss. Manipulative and Body-Based Practices: An Overview. Manipulative and Body-Based Practices: An Overview. WETA, 2009. Web. 02 Jan. 2017. Engel, Meredith. Does Energy Healing Really Work? NY Daily News. NY Daily News, 18 July 2014. Web. 02 Jan. 2017.

Deaf :: Personal Narrative Writing

Deaf The fresh wound didn’t seem like it would be such a problem until I saw the blood trickling out. Sure, when I had cut my self by grabbing a piece of saw palmetto, I felt my skin ripping and quickly retracted my right hand. However, my want for adventure to explore the tree island overcame the small bit of pain I felt. An adrenaline rush helped me overcome all of the annoyances pushing through the dense brim of the island, like palmetto leaves and spider webs, as well as the myriad of other obstacles upon finally penetrating. First there was the ground that wasn’t as firm as I thought it was; my right sneaker falling victim to the deceptive scattered branches that littered the floor, probably only inches thick, allowing water to creep in and wet my sock. Then there were the dead branches that I tried to use as a bridge to avoid this, which snapped under my overbearing 150 pounds. And of course every branch was connected to the last by a series of intricate spider webs; every one I ducked to get under just happened to have a neighbor right underneath. The list goes on. But the small wound where the palm of my hand met my thumb didn’t seem like it would be a big deal until I was back in the boat. I didn’t realize that it would trigger such intense emotions and drag me so deep into a pit of despair. Sitting there, about to row towards the professors, a bead of sweat dripped into the wound. Not only did I realize that this tiny cut would be a bother until it scabbed, but the pain of a half a day’s rowing suddenly caught up. Then I realized that the â€Å"adventure† of walking through the tree island had felt more like a difficult mission than the fun time I had expected. This got me really upset. Here I thought I was doing so well, because I had canoed various times before, and I had walked through equally difficult vegetation. So why was I so upset? Why was I so damaged, and in so much pain? I wanted to scream! Instead I let out my frustrations on the mosquitoes, swatting them away while my canoe partner fought his way back into the canoe. Deaf :: Personal Narrative Writing Deaf The fresh wound didn’t seem like it would be such a problem until I saw the blood trickling out. Sure, when I had cut my self by grabbing a piece of saw palmetto, I felt my skin ripping and quickly retracted my right hand. However, my want for adventure to explore the tree island overcame the small bit of pain I felt. An adrenaline rush helped me overcome all of the annoyances pushing through the dense brim of the island, like palmetto leaves and spider webs, as well as the myriad of other obstacles upon finally penetrating. First there was the ground that wasn’t as firm as I thought it was; my right sneaker falling victim to the deceptive scattered branches that littered the floor, probably only inches thick, allowing water to creep in and wet my sock. Then there were the dead branches that I tried to use as a bridge to avoid this, which snapped under my overbearing 150 pounds. And of course every branch was connected to the last by a series of intricate spider webs; every one I ducked to get under just happened to have a neighbor right underneath. The list goes on. But the small wound where the palm of my hand met my thumb didn’t seem like it would be a big deal until I was back in the boat. I didn’t realize that it would trigger such intense emotions and drag me so deep into a pit of despair. Sitting there, about to row towards the professors, a bead of sweat dripped into the wound. Not only did I realize that this tiny cut would be a bother until it scabbed, but the pain of a half a day’s rowing suddenly caught up. Then I realized that the â€Å"adventure† of walking through the tree island had felt more like a difficult mission than the fun time I had expected. This got me really upset. Here I thought I was doing so well, because I had canoed various times before, and I had walked through equally difficult vegetation. So why was I so upset? Why was I so damaged, and in so much pain? I wanted to scream! Instead I let out my frustrations on the mosquitoes, swatting them away while my canoe partner fought his way back into the canoe.

The Things They Carried :: essays research papers

In Tim O'Brien's 'The Things They Carried'; detailed description and realism were used to capture the audience and draw them into the actual events in the story, allowing them to feel the burden of emotional and physical weight on the characters, who were fighting to preserve their sanity and lives. The vivid detail and realistic narration were only tools used by the author to prepare a story that goes beyond the war in Vietnam, focusing on the other things that soldiers carried - inner thoughts, feelings, and emotions.  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  The story was brought to life by the realistic but disjointed narration of the author, illustrated by returning to the death of Ted Lavender throughout the story. Someone who had actually experienced similar events could only write the story with such detail. The repetitive narration describing the accumulation of things they carried eventually had meaning. This was the way their lives had become, step by step, ounce by ounce. The repetition reached a climax when the author revealed the heaviest of all the things they carried, 'They carried all the emotional baggage of men who might die'; (paragraph 77).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The main characters in the story were First Lieutenant Jimmy Cross and Martha, a college student who wrote to him. The story flowed from beginning to end, characterizing the changes in Jimmy Cross as he dealt with his emotions as well as the responsibility to the men in his platoon. In the beginning of the story he was depic ted as a Jones 2 boyish leader with dreams of Martha being his escape from the senseless reality of the war. When one of his men was killed he accepted the responsibility and guilt, which changed him into the leader he thought he should have been – forgetting Martha and protecting his men. This plot linked together all the actions and events that happened in the story.   Ã‚  Ã‚  Ã‚  Ã‚  Tim O'Brien used third-person point of view to tell the story. The omniscient angle of vision enabled him to reveal the thoughts and actions of all the characters. He graphically illustrated this when describing the 'freedom birds'; they dreamed about, taking them away while on guard at night (paragraph 81). There were many similar examples throughout the story.   Ã‚  Ã‚  Ã‚  Ã‚   The main idea of the story was well defined by literary critic Joanne McCarthy when she wrote, 'Pranksters must become killers, dreamers must become realists – or someone dies'; (McCarthy par.

Beauty and Genetic Enhancement :: Creative Writing Essays

Beauty and Genetic Enhancement      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Nausea.   To describe the whole situation in one word I would have to choose nausea.   The Expo center was packed with societies elite,   eagerly waiting the announcement of what the rumor mill had told them to be the most important invention of the decade.   The air was cold and damp, like that of a hospital.   Barley audible was the most annoying Michael Bolton song that I could imagine.   As I got entranced by the dullness of the situation I noticed that the lights were slowly getting dimmer.   As Michael Bolton's voice became silent, Dr. Zimmerman spherical body came waddling out.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Dr. Zimmerman was a very large, gluttonous man.   I had worked with him many times, and I had lost more than one of my ideas to his fat hands.   He was ruthless, unemotional, and conscienceless; the perfect scientist.   He painstakingly climbed onto the two foot platform in front of the podium, making a little grunt that accidentally found its way into the microphone.   "Hello? Can you guys hear me in the back?"   He gurgled in his natural grotesque voice. With the acknowledgment of the audience, he sipped the glass of ice water which stood on the podium and cleared his throat.   "Ladies and Gentlemen, I am here to inform you of a discovery that my team of genetic scientist and I have discovered."   The more he said the more I wanted to hear. I wanted to shout to make him blurt it out, but it was impossible to speed him up, attention was the reason why he became a scientist.   He didn't care about the effects of his discoveries, as long as he packed the expo center the next weekend.  Ã‚   "The quest toward perfection is finally over.   Your unborn children now have the opportunity to be everything you ever wanted them to be!"   A large blue vein slowly became visible through his cherry red forehead. "Birth defects are a thing of the past."   Suddenly the severity of the situation slammed into me like a subway train.  Ã‚   "There will be no such thing as an imperfect child!"   The sound of flapping mucus in his throat was almost unbearable.  Ã‚   The applause began, I knew it wouldn't stop for at least ten minutes because Dr. Zimmerman wouldn't let it.   I ran to the bathroom to think about what had just happened.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Dr. Zimmerman was referring to the G.A.M.   project, Genetic Alterations for Mankind.   The team of four was lead by him.   The goal was to alter DNA of freshly fertilized embryos, to control every one of their physical and mental

A Laptop Computer

A laptop is a portable personal computer. They have furthermost of the similar components as a desktop computer, likewise a display screen, a pointing device such as a touchpad which also known as a track pads, a keyboard, and 2 speakers. Laptop computers are powered by mains electricity via an AC adapter, and can be used away from using a rechargeable battery. Sometimes there are also called notebook computers or notebooks. Laptops are portable computers. They are standard devices between students, businesspeople, and people who daily use their computer on the go.The cost of laptop is more than desktop computers for similar specifications, due to their nearby portability. They can have as extremely power and speed in place of desktops and laptop can be easily connect to external device for instance, monitors or keyboards, and other peripherals. They are more comfortable for use in business meetings, classrooms, cars, planes, trains, etc. Moreover, Laptops are that you can take all o ver the place with you without any difficulty.It can take up very small space and people can only use for few hours without access to power. Laptop computers come in many sizes, which generally refer to the size of the display. They can choice from a 10-inch to 20-inch for normal laptops. Laptops come in several resolutions ranging from 1280Ãâ€"800 to 1920Ãâ€"1080. Laptop video cards and processors are designed built on the desktop processors, but they are produced with low power in mind. They are generally less powerful than the desktop computer.Furthermore, they are increasing in popularity and for moral reason. They have benefits that are incomparable by desktop machines. And, bigger technology has dramatically dropped the price on most models. The laptop's small size removes the need for a large computer desk, and peripherals (scanners, printers, and mobile phone and external hard-drives) are simply linked with a USB cable. Wireless internet or Wi-Fi connectivity is possible, and most components now feature built-in fingerprint readers, Web cams, speakers and other operating systems.Laptop is a good technology because it very easy to take it anywhere. People can easily access to the internet and get their information by the help of Wi-Fi. Most of people are turning toward from desktop computers to laptop because its cost is decreasing, now nearby the same price as a similarly desktop computer. I really my laptop it save my time. When the electricity is gone, my laptop still on, so by the help of laptop I easily completes my assignments.

International management and change Essay

When Pascal made this statement, globalization had yet to take place. People lived in different societies remaining cut-off from each other. Each society had its own perception of truth and reality. Then came along the advancement in technology bringing along inventions such as computer, internet and telecommunications making the world a global village. Perceptions started changing as information flow across the globe happened at the speed of light. People from all across the globe started sharing their experiences with each other thus reducing the differences in various cultures. However, the act of globalization has yet to reach its peak. Cultural differences still exist within different societies and the level of information and technology is still heterogeneous around the globe. I would now highlight some distinguishing features of the management styles of various regions. We observe that the beliefs and values of people vary across various cultures. The Japanese work as a group and organizational system is based on community work. The reward system is based on the level of seniority and is also group based. The organizational structure is cooperation based whereas American organizations often are based on competitive style where individuals are rewarded based on their performance levels. Similarly the management style of French is also very different from that of US. French follow a more creative thinking pattern and do not like to adhere to strict rules and regulations. The European management style has some key points that distinguish it from the American management style. The European management style even differs within the European countries and two countries deserve a special focus — France and Germany — because, among other reasons, the bureaucrats in those countries have long been regarded as â€Å"mandarins† by the field of public administration (Dogan 1976). European management style can be classified into different clusters based upon Hofstede’s cultural dimensions and Trompenaars and Hampden-Turner’s cultural variables (Goliath, 2004) according to which European management style can be sub-divided into: Anglo-Saxon culture (Ireland, UK, and USA), Nordic culture (Denmark, Norway, Netherlands, Sweden, and Finland), Germanic culture (Austria, Belgium, Germany, and Switzerland), Frankophile culture (France, Greece, Portugal, and Spain) and Italian culture. These cultures also differ greatly from the US and Japanese styles of management thus requiring different management practices. The pay for performance system can work with the European management style as employees in Europe are mostly achievement oriented and perform good work for better rewards. The cultural beliefs and values of Europeans are pretty much different from the people of US and hence the marketing techniques used in Europe should be different from those applied in US. For example, Europeans are very much reluctant to providing personal information as compared to US customers; also the credit card usage in Europe is considerably lower than in US (Heilbrunn, 1998). The introduction of new logo and implementation of matrix structure allowing a flatter organizational structure can work relatively better in the European business environment The company operations in South America demand a completely different approach as Latin American culture significantly differs from US culture in terms of communication process. The US culture emphasizes on completion of task and sentences are interpreted in their direct meaning. However Latin American society focuses on relationships and context of the communication may involve more than just the spoken words (Wederspahn, 2001). So the marketing and sales efforts in South American cannot be standardized with the US practices since the Latin American customers tend to perceive communication messages in a very different way from their US counterparts. The new logo can be introduced, however introduction of a flatter organization with matrix structure may not be feasible in South America as the type of culture prevalent in this society is not conducive to the working of non-hierarchical organizations. If we study the culture of Middle Eastern countries, it is found that the business practices again differ significantly from those of US. The business is mostly chaotic and based upon word of mouth rather than written agreements, the cultural values are mostly Islamic and respect for relationships is held supreme; also the marketing regulations in Middle Eastern countries are very strict as compared to US or rest of the world (Kwintessential Ltd). The middle eastern management style is mostly authoritarian and based upon Douglas McGregor’s Theory X motivational leadership style (Daniel Workman , 2008). Thus employees have little or no motivation to work on their own and will perform only when directed by the superiors. Thus bright managers from US and other Western states often try to avoid working in Middle East and so they must first be provided proper cultural training in authoritative styles thus enabling them to adapt to the management practices of the Middle East. The Australian business is more similar to that of US as compared to the rest of regions as described above. The language and dress code is pretty much similar. However, Australian society is strictly based upon egalitarian principle where nobody like being bossed around. People don’t like to consider others as superiors and there is almost no hierarchical system (Slideshare, 2009). So authoritarian style of management will not be welcomed in the Australian business. The meeting and negotiation styles as well as the general beliefs of the Australian society are pretty close to the American beliefs. However according to a study on behavior of 35,000 managers from Australia and New Zealand, the Australian managers consistently try to avoid responsibilities and do not take initiatives (Gettler, 2002). Thus FES should provide cultural and leadership training to Australian manager before implementing any kind of central strategy. Discrimination issues also prevail in Australia that can make life for foreign managers very difficult. However, recently steps have been taken to strongly implement anti-discrimination laws. The roles of front line managers are also changing in Australia as they are provided more and more freedom and responsibility (James Saville, & Mark Higgins, 1994). The sales and marketing strategy in Australia can be aligned with the US strategies relatively easily because of the similarity in both societies. So the dilemma of FES is choosing between centralized and decentralized approach. Centralization can be defined as, â€Å"the degree to which decision-making authority is kept at top levels of management. † while Decentralization can be defined as, â€Å"the degree to which decision making authority is pushed down to lower levels of the firm† (Schilling 2008). Both approaches have their own pros and cons. FES has seen tremendous growth over the years and has been expanding into new regions at a very quick rate. Thus the organization requires a large amount of flexibility in its decision making that can be provided by a decentralized approach. However, due to rapid expansion, the organization requires tighter control of finances and close monitoring of all its operations to reduce costs and maintain quality. These measures can be achieved through a more centralized approach. So what approach suits FES bests can be determined by a cost benefit analysis where each advantage and disadvantage of delegation authority has to be carefully analyzed in light of the company objectives. Thus aligning the decision making process with the vision of the organization. A centralized approach can benefit the organization by significantly reducing the administrative cost related to employee management. Infrastructure handling will also be more efficient and it will be easier for the headquarter to align organizational goals with the functional and departmental goals ( Dezaree Seeds, & Alan S. Khade , 2008). Centralized approach will also make reporting procedure simple resulting in standardized organizational policies. Thus in this way it will further help the organizational objective of flattening the organizational structure and in creation of a matrix organizational setup. A decentralized approach on the other hand can benefit the organization by providing flexibility and empowering employees at the divisional and functional level. As explained above, different regions in which FES is operating have different working environments and the condition of energy industry in Europe, Australia, Middle East, US and South East Asian regions are very different from each other. Thus decentralization of HR and marketing policies will allow the organization to cater to the customer needs in the ways most suited to specific regions. It will also allow greater local control and the ability to act quickly to gain local resources ( Dezaree Seeds, & Alan S. Khade , 2008). Decentralization will also allow the organization to better deal with the cultural diversity and provide training to the employees as and when the need arises. â€Å"One thing that business, institutions, governments and key individuals will have to realize is spiders and starfish may look alike, but starfish have a miraculous quality to them. Cut off the leg of a spider, and you have a seven-legged creature on your hands; cut off its head and you have a dead spider. But cut off the arm of a starfish and it will grow a new one. Not only that, but the severed arm can grow an entirely new body. Starfish can achieve this feat because, unlike spiders, they are decentralized; every major organ is replicated across each arm† (Beckstrom and Brafman 2008). The type of approach taken by FES depends upon the nature and present condition of the global energy industry. The energy industry around the world is in a continuous state of flux. As more and more energy companies around the world become private and become free from the control of state, the nature of competition is changing (ExxonMobil, 2004). Demand for power is increasing at an exponential rate and the competition from private as well as government owned companies is fierce. In the power generation sector, each country has established different laws and tariff rates for multinational organizations. Thus on a whole it seems wiser to maintain a decentralized organizational setup which is flexible enough to quickly respond to the changing conditions of the industry. FES should maintain its present functional structure by keeping the finance, production and HR departments centralized. However using the same marketing and sales techniques all across the globe has a lot of negative implications. Thus allowing the regional marketing departments to work according to their specific environment is the best possible option. So in order to maintain decentralization in the marketing and sales department, the top management has to establish strong ties with all of its regional departments. A strong organizational culture based upon a clear vision and mission of the company should be communicated to all of its employees. Perhaps FES can create a hybrid model which allows centralization of decision making with respect to financial and important managerial decisions and at the same time, the marketing campaign is allowed flexibility according to the specific needs of the region. A key concern for FES is to harmonize its rapid global growth. Power and gas generation has to be taken in new countries and new plants need to be setup. The international operations have expanded a lot and efforts must be made to consolidate the existing business while growing in new regions of the world. As part of the consolidation effort FES must conduct extensive employee training program instilling in each employee the vision and objective of the organization. The company should consolidate its major decision making power in the Headquarter thereby allowing Headquarter to maintain a close monitory system on all of its subsidiaries. By centralizing its finance and management activities, the company can also approve marketing budgets for different regions from its Headquarter, thus building coherence in the finance and marketing goals. However the marketing and sales strategies for each region should be decentralized thus instilling greater flexibility and freedom among marketing departments to cater to their local markets. The pay for performance system can work smoothly in few of the regions but as explained earlier, some regions such as Middle East and some parts of South East Asian cultures demonstrate a more hierarchical structure and it will be extremely difficult to introduce pay for performance system in these regions. Also the parameters should be clearly defined before introducing the pay for performance system in different regions. Because same results usually do not show same amount of performance in different regions. What kind of performance and what kind of pay should be decided and communicated to all regional offices. The parameters for monitoring performance should be based upon different standards for different regions. Similarly some of the major HR policies should be centralized but mostly HR of each region should be independent in choosing the who, what, when and where about its employees. For example, Middle Eastern region is very warm in summers as compared to the European region and the work habits and optimum level of work during different seasons is different for both these regions. Thus separate working policies should be established for each of the region. The R&D department should remain centralized at the American Head Office. As a centralized R&D approach is more beneficial for a company like FES which has not expanded business into a variety of categories (AB, 2001). However taking technological inputs from all across the globe may help the R&D department in improving its efficiency and effectiveness. Thus technological integration should be built where all global units of FES are directly integrated with its Head Office and the information flow between Head Office and different regions should be quick and efficient. The production department should carry out its role from the center, managing the manufacturing process across the globe from the Head Office. So it can be seen that different aspects of FES operations require different level of centralization and decentralization. Also different regions require different level of authority delegation based upon their internal environment and national cultures. It is relatively easier to introduce standard policies in Europe and Australia as both of these cultures are very similar to that of US. However, standardizing procedures across Middle East and South America is not a feasible option. The regional business units should remain decentralized as there should be some form of flexibility to make the decision making process quicker. The regional heads should be sent directly from the Head Office, however if some regions in Middle East are not being managed effectively by American managers, then leadership services of local managers should be availed after providing them extensive cultural training programs at the Head Office. The regional units should be linked to the Head Office through the fastest technology available so that there is no or little information gap between the center and regional units. Thus in light of the cultural differences prevailing in various regions of the world, the best suited approach should be to take a hybrid approach while showing some restrain in application of a centralized approach and making some variations in the standards for implementation in different regions. The integration of overall business can be achieved by proper use of technology and defining proper hierarchical system for flow of information between Head Office and various regional units.