General Motors Acting Strategically

General Motors Acting Strategically History and Growth of GM General Motors was founded at the beginning of the twentieth century and initially they were the manufacturer of Buick- a motorcar with an internal combustion of engine and horse-driven vehicles. They gradually developed more auto cars and in 1916, Alfred P. Sloan who led the company to an unprecedented growth over the years owned it. GM grew up into a huge global corporation despite all the tribulations it went through.Advertising We will write a custom report sample on General Motors: Acting Strategically specifically for you for only $16.05 $11/page Learn More As GM is a gigantic conglomerate, it has several branches. GM has four organs for administration and reporting while GM North America (GMNA) had the largest sales. The GM maintained an overall percentage of 26 % to 28 % of all industries in this region. However, its profits fell in 2005, which was due to lesser quantity of products and an unfavorable product mix and it was t he result of plant closures, changes in product liability and other major impacts on net income. In Europe, GM (GME) faced continuous losses amounting to US$ 1.0 bn by 2004 due to continued negative price pressures and unfavorable exchange rates. GM in Asia Pacific (GMAP) had good sales, here with a very good position in China. India and Thailand also yielded good earnings. GMAP showed very high net margin with about 10% in 2003 2004. GM in Latin America, Africa, and the Mid-east (GMLAAM) was unpredictable with losses in 2002 2003, mounting to profits in 2004. The net margin was higher in 2002, which fell to 0.4 % in 2003, which increased to 0.9% in 2004. The GMAC was the financial subsidiary of GM, initially introduced to finance GM operations. This section had continuous profits and gradually it grew up into a global financial company, offering mortgages and insurances. The total revenues from the financing insurance operations showed a gradual increase, which was 31000 million in 2004 and a net income of 2800 million in both 2003 2004 but however, there were also some losses in some other sectors. The shares of GM and other American companies declined from 1990 to 2004, whereas shares of foreign companies rose and these led to restructuring. There was high competition and GM faced new challenges. Strengths and Weaknesses of GM The internal strengths of GM are market share, sales volume, performance of subsidiaries, labor force, financial strength, restructuring process and long experience, brand awareness in the US market, application of technology, and many other features. On the other hand, the external threats are Reduction of market share in the US market from 1990 to 2004, provision of North American Free Tread Agreement, operating expenses, excessive investment, and model of the cars, political factors, strategic decision, and stock performance.Advertising Looking for report on business economics? Let's see if we can help you! Get your fi rst paper with 15% OFF Learn More Strengths: Market Share: According to the annual report 2010 of GM, it has business operation in more than 157 countries and still has a significant share in global market. In addition, its current market position in North America zone is outstanding in terms of market share and volume of sales; Sales Volume: Wall Street Journal forecasted that General Motor is in the highest position considering the number of car sales because it has been sold 232,538 cars in the fiscal year 2010/11 while Ford Motor Company sold only 189,284 cars and Toyota Motor Sales USA Inc. sold 159,540 cars in this zone (WSJ, 2011). However, the following figure demonstrates the position of car manufactures in terms of car sales Figure 1: Position of GM in the US market Source: WSJ (2011) Performance of Subsidiaries: It has many regional subsidiaries like GM Daewoo Auto Technology, Shanghai General Motors, SAIC-GM-Wuling Automobile Co and many others subs idiaries those performance help to increase profit in consolidated financial statements. Labor force: GM has more than 209,000 efficient employees to operate the business in adverse economic condition and save the company from such position. However, most of the employees are higher educated in particular subject and their own field and they have innovative new idea to offer better services for the customers; Internal control: the management team follow local rules and regulations where it operates and it has own controlling system. However, it follows listing rules and other provisions of Sarbanes-Oxley Act of 2002 to control the business and avoid mismanagement and internal conflicts; Financial strength: GM Corporation is one of main player in the automobile industry, which has financial capabilities to compete with other car manufactures in national and international market by implementing its new business strategies in the present market place. According to the annual report 201 0 of GM, its present key financial variables are Key variables 2010 ($ million) 2009 ($ million) 2008 ($ million) 2007 ($ million) 2006 ($ million) Total Sales Revenue 135592 57474 148979 179984 204467 Net income (loss) 6503 (3786) 109003 (31051) (38136) Total Assets 138898 136295 91039 148846 185995 Total GM Company equity (d) 37159 21957 (85076) (35152 ) (4,076 ) Diluted earnings (loss) per share: $ 2.89 $(3.58) $(53.47) $(76.16) $(4.39) Table 1: Financial information of GM Source: self generated from of GM (2010, p.47) Restructuring process: This company was become bankrupt due to the adverse impact of global financial crisis but it was successfully restructured by taking direct help from the government; Experience: As the company established in 1908, it has long experience to operate global market with strong brand image. Weaknesses: Besides strong points, GM has many weak issues like Advertising We will write a custom report sample on General Moto rs: Acting Strategically specifically for you for only $16.05 $11/page Learn More Decrease Market Share in the US market: From 1990 to 2004, GM lost a significant percentage of the US market share, such as, its market share fell about 35.5% to 27.3% while Toyota and Hondas market share climbed by 18.3% to 26.2% in this zone; Figure 2: US Market share of Automobiles Source: General Motors (2010, p.7) NAFTA: the competitors of international market particularly Toyota and Nissan have easily entered in the North American zone by taking facilities of NAFTA[1] and captured large market share; Operating expenses: the total costs and expenses of GM are increasing each year, for instance, this expanses were $130508 million in 2010, $62402 in 2009 and $170209 million in 2008, which shows gradual increase of this costs; Excessive Investment: The main requirement of huge investment, fixed costs, excessive cost for training and development of staff and capitalization are el igible to put greater pressure on any car manufacturer regarding GM. Those variables also create severe problems of over capacity by recession and lower sales revenue or under capacity for upturn; Model of the cars: Most of the car manufacturing companies change the model of the car frequently, but GM is not concentrate on this issue more seriously. Political factors: GM’s net selling market in the USA has been adversely affected since 1990 due to fluctuate economical and political situations. For this circumstance, the company is shifting its selling vision towards rising automotive car market of China, which offers lower profit margin than general projection. Strategic decision: Toyota, Honda and Nissan have taken measures to save the company from unusual events, for instance, these companies have introduced environmental friendly sport utility vehicles (SUVs) to increase profit margin; Stock Performance: the performance of GM in Stock market is not satisfactory as this sha re price is decreasing day-by-day especially its share price decreased dramatically in April 2011 and the subsequent figure shows the position of GM in Stock market. Figure 3: Basic chart of GM Source: Yahoo Finance (2011) The External Environment of GM Hitt, Ireland, Hoskisson (2001) stated that the external environment of the company is depend on political, economical, social, and technological factors; therefore, this report will consider PEST analysis of GM-Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Political factors: General Motors (2010, p.29) reported that political unsteadiness in the Middle East and African countries could weaken the demand of cars and it must effect on the integrate market share of GM and annual financial performance. On the other hand, foreign direct investment policy in China, taxation policy of local and foreign countries, hostile attitude of the government of Nigeria and Venezuela, Israel- Palestine clash, and Iranian political environment influence the company both positively and negatively to operate the business. Economic factors: According to the report of Reuters (2011), GM experienced economic hardship due to the influence of bankruptcy in the fiscal year 2008 and 2009, but it enjoyed exceptional success in the year 2010, for instance, net income of GM was $6503 million, though the share price is decreasing at this moment (Reuters, 2011). However, Conklin (2005) projected $4.0 billion operating lose in 2005 due to high maintenance costs such as healthcare costs were $5.60 billion, which extremely higher than competitors’ expenses. However, Reuters (2011), forecasted that government provided fund from bailout bill to help the company to recover from recessionary impact, and the company started to gain its confidence and its share price would be in stable position in next three years. Figure 4: Basic Chart of General Motors for 2009 to 2013 Source: Online Journal Reuters (2011) Socio- cultural factors: GM provides effort to build up efficiency level of the employees in order to offer quality products and services to the customers. As employees are the key assets of the company, GM provide high remuneration to them as they are responsible for research and design, increase quality of the products and improve sales rate; so, GM increases annual pension and healthcare funds for the staff as more than 679000 families depend on this funds (Ivey Management Services, 2005). Technological factors: The research team of GM i s working hard to reduce petroleum consumption by introducing hybrid and electric technologies as Toyota and Honda have already captured a significant market share by developing environmental friendly products. At the same time, technological factors play vital role to introduce the vehicles with alternative fuels, and reduce oil and water consumption or launch next- generation hybrid power technology for gaining efficiency and ensure safety issues. Porter’s five forces model analysis of GM In order to discuss the competitive environment of GM, this report will focus on Porter’s five forces model – Figure 5:  Ã‚  Porter’s five forces model of competition for GM Source- Self generated form analysis Threats from new entrants: According to the annual report of GM Corporation, the automobile companies had suffered intense competition in the local and international market for financial downturns, unstable fuel prices, and reduction of the employment rate . In addition, it is important to have strong financial condition with advance technological supports in order to enter this industry as new player. As a result, it is hard for the new companies to occupy the market share of General Motors but there is huge risk of competitive stress from newer domestic automakers of China and India because these new manufacturers are popular to the middle class target groups. At the same time, large automobiles like Toyota, Honda or other companies’ subsidiaries can captured the market of GM as its market share in the US market is decreasing; Bargaining power of suppliers: As per the annual report 2010 of General Motors, the main suppliers are raw materials suppliers, which supply steel, aluminum, oil, rubber, motor engine, resins, color, simple parts, engine, glass, copper, lead, systems, components, and other body parts of cars etc. Nevertheless, the bargaining power of these suppliers differs from nation to nation and the availability of the suppliers of particular products, such as, General Motors always clear the payment second month of the delivery due to avoid any misunderstanding in the supply chain management system. Bargaining power of buyers: Prior to the global financial meltdown, buyers were comparatively less influential factors to the automobiles industry because most of the customers of GM had concerned on quality rather than price of the products though the fact of this statement differed from one market place to another place. However, the bargaining power of buyers is now high because of the current pressure of global financial downturn, as the customers of new cars now like to purchase cars at lower price. In addition, this power of buyers helped the competitors of GM to increase their sales profit as most of the competitors offer lower price of the cars; Threats of substitute products: Besides competition with direct competitors, General Motors also suffered hard competition from some other substit ute transportation system. As the demand of public transports like bus, railways system, and trams have provided huge facilities, the people take the advantage of public transport system in this economic condition; Rivalry among existing firms: This Company has to compete with numerous direct and indirect auto manufacturers at both home and abroad, for instance, the key competitors of this company are Honda, Ford motors, Chrysler, Nissan, Mitsubishi, Land Rover, Toyota, BMW, etc. However, the rivalry among existing firms is extremely high as all companies change their strategies to expand its market share; therefore, market share in the US car and truck market of GM fell about 22.1% to 18.8% from 2008 to 2010 only for the intense competition. However, the following figure compares the position of GM with other direct competitors – Figure 6: Direct Competitor Comparison Source: Yahoo Finance (2011) The external threats and opportunities of GM Opportunities: Growth: This com pany has capability to perform strongly in existing market and enter new market with exclusive offer particularly EU market is potential for the company; Joint venture: Joint venture with local companies or large multinational companies can bring success for the company Hybrid cars: GM has scope to develop its hybrid technology, new vehicle styles and models for the target customers; International strategy: It should try to apply international strategy to enter highly populated regions enlisting India, China, and Russia to generate long- run return. Threats: Recessionary Impact: It had been acted as the most vulnerable and dangerous factor of the General Motor company in terms of falling its certified dealership concerning 475 outlets among which 401 were linked with GMNA. In addition, it also generated stiff credit industry, disorder in the mortgage sector and fluctuated fuel rate for diminishing customer loyalty; Competition: Intense competition among the market players is one of the key threats for the company while competitors rapidly occupied large market share. Legal Litigation: Recently, legal litigation costs had increased as the company is responsible for environmental issues, employees and customer safety concerns, product quality, customers’ safety and other government policies; Fuel price: The volatility of fuel price decrease the demand of GM cars as the customer would like to purchase cars those require consumption rate of fuel is very low. However, the marketer of GM has already addressed this issue and this company is going to launch 19 FlexFuel vehicles in FY2011 with intent to capture 40 percent its total sales revenue; Compensation: Executive compensation committee has established considering the provisions of the ARRA[2] 2009 to maintain the remuneration system; however, it has many high-compensated employees, which become threat for the company at moment of financial crisis. Strategy of GM At around 2005, GM had been experiencin g high losses. GM was also compelled to provide payment for retired employees and pensions. In addition, there was intense competition. Therefore, GM would have to take steps in order to overcome these difficulties. The earlier principles were best products, consumer focus, and unity, accept stretch targets and working rapidly. GM would now have to change its working strategies. Among the US companies, which were the competitors of GM were The Big Three companies, Ford, Daimler-Chrysler and GM, which copied each others decisions involving models and prices which threatened continued profitability. On the other hand, foreign companies introduced newer models of cheaper improved products and they employed younger people paid less salary to them. The US companies strived to retain seniority distinctions, which hindered the innovation of new technologies. Many first time buyers preferred used cars but the older products of US Companies had poor performance, which created a bad impressi on in their minds. Consumers sometimes say that due to poor quality the US companies offered lesser prices. Repeated price and interest concessions led to customers waiting for the next sale. Moreover, such programs served to decrease prices of used and new vehicles and consumers preferred cars that might have constant resale value. Thus, the US companies closed some of their plants. The US companies decreased prices from suppliers and enhanced the prices to the dealers, which led to reduced profits. The complexity and size of the huge companies like GM delayed changes in technological and corporate cultures. Thus, the goals of GM were to increase shares by acting strategically. It would also have to introduce strategies to impress its customers. Thus, the company planned to undertake different corporate strategies. GM’S Saturn Strategy This project was that GM initiated a new branch in a new area with new employees. The Saturn vehicle was made especially different by providi ng it a plastic dent-free body. The sellers had fixed listed prices, for creating confidence to the customers of the company. This produced high consumer satisfaction but the profits could not meet its expectations. The Saturn Strategy required distinctive features and new employees. This was expensive so GM decided to make Saturn just another simple brand, with engineering and marketing being shifted to GM’s centralized operations. GM’s Strategy of Alliances GM created alliances in several countries for expanding their business. They had an equity position with the Swedish manufacturer Saab, and also created joint venture with the Russian company for building SUVs for Russia. They had an alliance with Suzuki of Japan for producing engines for Suzuki vehicles. They also had remarkable alliance with Fiat, Daewoo and SAIC. GM’s Fiat Strategy GM had alliance with Fiat hoping to increase sales in Europe. Fiat hoped to increase sales of its luxury cars in the US. GM and Fiat reduced costs by sharing engines and platforms. They exchanged technologies. They also exchanged shares in each others companies. However, this alliance was disastrous. Fiat had decreasing sales and lesser profits. GM and Fiat worked individually and some Fiat shareholders argued GM was obliged to purchase the remaining 80% of Fiat. Finally, GM made an out-of-court settlement of $2 billion. GM’s China Strategy GM had a 50 per cent share with a Chinese auto manufacturer, SAIC. They had numerous competitors with about 200 carmakers, retaining a 40 percent market share. In addition, the government had interventionist policies, such as the foreign ownership of assembly factories should be limited to 50 per cent. However, intellectual property was not protected resulting in models being copied and hence, threatening a decrease in prices. Moreover, GM faced risks that the joint venture might be dissolved or that the SAIC and others may turn into their global competitors; t herefore, there were many challenges. GM’s Daewoo Strategy GM made an alliance for buying Daewoo assets forming GMDAT. This led GM to gain access to the market in Korea and also to provide low-cost cars for GM dealers worldwide. Initially, GM had a 33 per cent market share, which fell to 9.5 percent in 2004 and the situation was becoming tougher. GM’S â€Å"Non-Market† Strategies Governments made policies, which influenced automakers strategies. In some places, such as Canada, government provided free health care for the people thus decreasing the production costs and influencing plant location decisions. For years, governments considered the automotive industry as a job creator, involving assembly operations and also dealers and suppliers. Therefore, the government provided significant financial assistance by which new plants or R D facilities could be introduced. Hence, each automaker started requesting for financial assistance. GM’s Healthcare and Pen sion Strategies GM had numerous employees and thousands of families relied on it for pension funds. In 2005, the cost of healthcare amounted to $5.6 billion and GM was considering to reducing these huge healthcare obligations. In 2005, GM thought to reduce benefits for retired UAW workers, but the UAW argued that this would be a breach of their contract. The union’s view was that before the union members chose to agree to reduce rises in their salaries expecting higher pension and health promises; thus, GM was legally and morally bound to the customer. GM’S Environmental Strategy: The governments were attempting to reduce gasoline consumption and emissions by increasing mileage for which they introduced regulations. Under the new regulations, sales were easier for Honda and Toyota than GM, which was compelled to sell smaller trucks at lower profit margins. Automakers were thinking to alter the engines for enhancing gasoline mileage by using batteries or other electrica l sources. GM introduced models, which relied on lead acid batteries and which it required charging. GM was also working for developing a six-cylinder diesel engine. Toyota and BMW was also working on new types of engines. GM and other automakers also considered fuel cells for producing electricity. In fact, some countries signed the Kyoto Protocol, for decreasing carbon dioxide emissions while the US and some countries did not sign. However, GM voluntarily took measures to reduce carbon dioxide emissions monitoring its energy use and carbon dioxide emission launched a website. Business Level Strategy of GM The GM’s market share in the US fell from 35.5 per cent to 27.3 per cent. The global share of GM was 15 per cent in 2002, which was approximately 14.5 per cent in the following yrs. Thus, the consolidated net income rose by about 1 million from 2002 to 2004. The net margin from continuing operations was above 1 per cent throughout the 3 yrs. An analysis of the financial da ta of global automakers would reveal the global position of GM. GM had the highest number of sales worldwide in 2004, but this does not mean an entire profit since the operating profit margin was -0.2% and the return on equity was -4.4%. This indicates that the company is going through losses. On the other hand, Nissan and BMW had a high profit margin of about 9%, which means that the company is having high profits. Nissan had a return on equity of 20% also indicates the high profitability of the company. The Stock Change of GM was -38.6% whereas that of Nissan was about 228%. Hence, in comparison it appears that the position of GM is poor in the market. In 2005, the CEO of GM intended to introduce new objectives. Following this, GM offered substantial discounts to attract consumers and lessen inventories. The CEO declared that the number of employees would be reduced to 25000., the CEO introduced a new strategy which included a) spending more on new vehicles, b)explaining the funct ions of each of GM’s eight brands; c) focusing more on lowering costs and improving quality; d) searching for ways to lessen the enormous healthcare costs. GM planned to reduce healthcare costs in US. Nevertheless, this was not such a pressing matter for Canada due to differences in publicly funded healthcare systems. The CEO decided to be in charge of the GMNA. He made internal changes within the company by assigning the former chairman of the NA division and GMNA President to global product development and manufacturing and labor. The intention was to reinforce GM’s global focus. The CEO also expressed a new strategy related to pricing, marketing and models of vehicles and said that if each product could be produced with more special features for attracting consumers it would be better. For positioning the models uniquely so that customers can easily understand GM brought new strategies. Among the eight brands, Chevrolet and Cadillac would remain in the market and so me models might be eliminated for lessening duplication. GM thought to use sticker prices, which would be much close to the original prices paid by customers to allow customers to compare prices of GM’S products with products of other companies. GM also started new advertisements focusing the theme â€Å"Only GM† emphasizing safety features and in-vehicle communications service and electronic stability control and some other features. The major problem faced by the company: According to the case of Conklin (2005), the major problems faced by the company are- Competition from Japanese automobiles: The foreign automakers particularly Japanese carmakers offer lower price for their new model quality cars those are concentrate on the environment friendly with low fuel consumption to the customer. Besides trucks and small car markets, these companies also penetrated the market of luxury vehicles with latest technology and these companies develop global networks to sales thei r products. However, GM is in number one position in terms of car sales but it is facing serious problem to sustain as a market leader in automotive industry from last three decades. Competitors’ products: the competitors especially Toyota and Honda are manufacturing quality products and building strong brand image, which becomes one of most significant problems for GM. Internal controlling system: the present management team is in under pressure due to the provision of previous rules as these rules create impeding to apply new technology and bring organizational change at the time of crisis. Resale value: According to the report of Ivey Management Services, the government, rental service providers and many companies offer second hand cars at lower price; therefore, many potential customers purchase second hand cars instead of first hand cars of GM. Customers’ respond: Most of the customers of GM stated that the value of this brand is higher than any other foreign comp any’s car and the quality also lower in terms of the price of the GM brand. Therefore, the customers would like to purchase competitors model as they get new car at lower price with similar or better features, which influence the market to reduce integrate sales of the company. Restructuring process: In 2004, Wagoner in annual report of the company stated that GM should restructure its strategies in order to gain competitive advantages in future and it was a difficult task for the top management, as they had to take many decision going beyond existing culture of the company. For instance, it had twenty-seven different purchasing organizations but it is now performing as a single organization for global operation The â€Å"Push† industry effect: Push strategy indicates that â€Å"pushing† the production through distribution channels to final consumers where the manufacturer directs all the marketing actions toward channel members for reminding them to carry out t he production and to endorse those to final customers; however, GM followed these strategy and automatically reduced the market share. The possible solutions/ alternatives for solving the problem: Explanation of Scale: Each criterion was evaluated and given a score between 1 and 5, with 1 being very unfavorable and 5 being highly favorable Alternative 1: Develop new product line Annual report of GM stated that this company has focused on creating a strong business by introducing innovative products with excellent features; consequently, GM has already launched few models those can run by using alternative fuels consumption system (such as bio-diesel and ethanol blends) with other eco-friendly technologies (GM, 2010, p.12). The purpose of this strategy is to increase the market share in the US market as the foreign companies penetrated the US market with these product lines; for example, Toyota became the market leader in the Hybrid and Plug-In Electric Vehicles while Honda is the ma jor competitor of Toyota. However, GM has already changed its objective related with the cost effective fuels issues and it has introduced 19 Flexmation considering these facts and added new features to operate with bio-fuels including E85 ethanol by the fiscal year 2012. At the same time, GM (13) reported that new model hybrid electric vehicles would play vital role to change customer behaviour and increase sales revenue from the US and European car market; therefore, it would like to introduce Hydrogen Fuel Cell Technology, OnStar and Other Technologies in their new products. Decision Criteria for Strategic Alternatives Evaluation Criteria Evaluation Criteria Strategy 1 Builds brand awareness GM is already market leader in the US market in terms of car sales, but Toyota leads the hybrid car market; so, strategy 1 would need to implement to build brand awareness within short time in this sector 4 Aligns with vision This strategy complied with the vision of the company 4 Exploits core competency It has addressed areas that can add value for GM automobile and further develop the world class experience 3 Competition As the car market is too competitive, this strategy would create new dimension to compete with competitors 4 Differentiates and helps to create unique experience The customers have experienced of the eco friendly models. Therefore, it will not help the company to create unique experience 3 Creating loyal customer base As Toyota and Honda offer similar products at lower price, then it would be difficult to create loyal customer base 3 Financial risk Implementation of this strategy may create problem due to lack customer demand, which will increase financial challenges 3 Short and long term Growth rate It would be possible to expand market and sustain for long time in some business zone 3 Think customer first It is not meet the criteria of think customer first 3 Degree of Flexibility It would be possible to develop market share in the US and other European countries 4 Total / 50 34 Alternative 2: Restructuring Pricing Strategy The marketer of GM should research on the market trends, external business environment, the effect of global financial crisis, demand, market competition and buyer behavior in order to restructuring its pricing strategy. However, GM has long experience to operate business in national and international market as a major player but it lost its glorious market position due to higher competition and price war from Japanese companies. As a result, restructuring pricing strategy is one of the most essential criteria to sustain in competitive market while all competitors setting price considering customers’ purchasing power. Decision Criteria for Strategic Alternatives Evaluation Criteria Evaluation Criteria Strategy 2 Builds brand awareness Japanese car manufacturing companies developed their brand image by using this strategy 4 Aligns with vision In 2009, GM’ s sales have been lowered by 30% than 2008 and the company decided to fire 3800 personnel in order to overcome the recessionary impact. In this circumstances, the position of the company can be improved by following this pricing strategy 4 Exploits core competency GM would need a longer period of time to regain its glorious position in terms of more vehicle sales if it not consider this strategy 4 Competition As Japanese competitors ask lower price to capture the market, GM should hit the market by restructuring their pricing policy 5 Differentiates and helps to create unique experience Most of the case value creation depends on geographic factors include target region or country and population density 3 Creating loyal customer base Due to ongoing instability of oil prices over 2008, a lower demand situation has been created for some of the GM’s higher margin cars involving full- size sport utility vehicles. Therefore, restructuring pricing strategy is the only one so lution to create large customer base; 5 Financial risk 4 Short and log term Growth rate In 2009, the overall conditions threatening the company to the extent that it would not sustain for long without a bailout from the US government. Consequently, alternative 4 must help the company to operate in near future with highest market share 4 Think customer first This strategy meet the criteria of Think customer first 4 Degree of Flexibility Cost Leadership is the effective strategy for future sustainability 5 Total / 50 42 Alternative 3: Joint Venture and Acquisition strategy The company can achieved competitive advantages by joint venturing with large automobiles to share their resource and capabilities to expand the business in outside of the US market. Decision Criteria for Strategic Alternatives Evaluation Criteria Evaluation Criteria Strategy 3 Builds brand awareness In some case, this would effective strategy to increases Brand recognition 4 Aligns with visi on It is more likely to result in a successful outcomes as it creates a customer centric culture, making their accessibility and needs to most important thing 4 Exploits core competency It has identified areas that can add value for the company 4 Competition Reduce completion between two contacting parties 5 Differentiates and helps to create unique experience Differentiate the mountain to suit target group needs, each mountain in unique within itself ensuring that the experience is unique and entwined in the mountains culture 3 Creating loyal customer base Increased infrastructure and services increases capacity for more customers, ensuring the experience to create loyal customer base 4 Financial risk In case of joint venture, it has minimal start up costs, and few overhead. However, in case of acquisition, it requires a large financial investment both with the initial purchase and the development of infrastructure expenses 3 Short and log term Growth rate It offers lar ge potential growth in the long-term in some place 3 Think customer first This strategy has designed with think the company first 2 Degree of Flexibility It limits its adaptability 3 Total / 50 39 Alternative 4: Combination of Alternative Strategy 1 and Strategy 2 Decision Criteria for Strategic Alternatives Evaluation Criteria Evaluation Criteria Strategy 4 Builds brand awareness It would be the best solution to create brand image in global market 5 Aligns with vision This strategy is complies the vision, as the vision of the company is to be the world’s best vehicles by building large market share, revenue, earnings and by developing the quality of the vehicles 5 Exploits core competency GM has already experienced success for outstanding offerings where new pricing strategy would increase its profits 4 Competition Strategy 4 would be the best solution to compete with Toyota, Honda and other foreign competitors 5 Differentiates and helps to create un ique experience The behavior of the customer would be changed due to the new strategy 5 Creating loyal customer base It would be possible for the company to build loyal customer base like competitors 5 Financial risk There is almost no financial risk to implement this strategy 5 Short and long term Growth rate Short and long-term growth of the company would be depending on the customer behavior and strong customer base. However, it can assume that this strategy will expand in near future rapidly 5 Think customer first This strategy first think customer 5 Degree of Flexibility It would be possible to focus on other countries 5 Total / 50 49 Recommendation This report recommended that Alternative strategy 4 is the best solution considering the evaluation criteria of decision-making process and this strategy would help the company to create brand image in global market including developing countries. Alternative strategy 4 only considers the new product development with exceptional features, but the company would never be able to capture large market share if the customers purchase the low price products of competitors. As a result, combination of pricing strategy with development of product line would be the most successful strategy to regain its market position in the US market and establish the company as market leader in global market. Reference List Conklin, D. C. (2005) General Motors: Acting Strategically. Ontario: Richard Ivey School of Business. General Motors (2010) Annual Report 2010 of General Motors Company). [Online] Available from: http://investor.gm.com/pdfs/10-K.pdf Reuters (2011) General Motors Co (GM.N). [Online] Available from: reuters.com/finance/stocks/overview?symbol=GM.N WSJ. (2011) Sales and Share of Total Market by Manufacturer. [Online] Available from: http://online.wsj.com/mdc/public/page/2_3022-autosales.html Yahoo Finance (2011) Direct Competitor Comparison of General Motors Company (GM). [Online] Available from: h ttp://finance.yahoo.com/q/co?s=GM+Competitors Yahoo Finance (2011) General Motors Company (GM). [Online] Available from: http://finance.yahoo.com/echarts?s=GM+Interactive#chart10:symbol=gm;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined Footnotes North American Free Tread Agreement The American Recovery and Reinvestment Act of 2009

How to Identify People by Name

How to Identify People by Name How to Identify People by Name How to Identify People by Name By Mark Nichol How does one introduce a person in narrative nonfiction? What is the style for subsequent references to that person? It all depends on the circumstances of the person and of the content. In biographical content, it is common to name someone on first reference by birth name, including middle name(s) and independent suffixes such as Sr. or III, but this formal version need not be used again, except in a rare circumstance I’ll mention below. Normally, however, the first and last name will suffice, unless a historical personage is generally identified otherwise, such as in the case of Franklin Delano Roosevelt. A biographical treatment, however, might begin with an anecdote from the subject’s youth or young adulthood, and this excerpt might identify the person at first and on second reference (this editorial term refers not just to the second instance but all subsequent mentions) with a diminutive for example, Bobby in place of Robert or a nickname. Then, once the anecdote is complete, the first reference to the main body of the text will formally identify the subject. And what about second reference? An intimate portrait, or a portion referring to the subject’s childhood, might use the first name alone or a diminutive or a nickname. In most cases, however, the subject’s surname will be employed. Exceptions are figures with extended surnames who are known simply by a single element of that surname, such as Spanish artist Pablo Diego Ruiz y Picasso, popularly known as Pablo Picasso or even just Picasso, and French diplomat Charles Maurice de Talleyrand-Pà ©rigord, known to history as Talleyrand. (These two men are among a small number of historical figures known simply by their last name, though their full names are generally used on first reference unless the person is not the primary subject of the text and is mentioned merely in passing: â€Å"Smith was no Picasso†; â€Å"Jones aspired to be the next Talleyrand.†) When else should a full name be used after the first reference? If the person is being discussed as a type, or the writer is referring to the subject being self-referential, the full name perhaps including middle name(s) and/or a suffix is often applied: â€Å"Jones suggested it to Smith. . . . John James Smith was not the kind of person to ignore a challenge like that.† What are the guidelines for when a person is mentioned occasionally? They can be only guidelines, rather than rules, because one must use one’s judgment depending on the length and organization of the content and on the frequency and placement of references to the person. For example, if a person is mentioned in only one chapter or at most a few sequential chapters of a book, the last name alone should suffice on second reference. But if a person not central to the narrative reappears after an interval of a section or a chapter or more, the full name should be used to reacquaint readers with this person. If the person is mentioned only a handful of times throughout a long report or a book, full identification might be best on each occasion. The writer must decide based on the person’s familiarity and the person’s significance to the narrative. (Another consideration is the presence of other people sharing that person’s surname.) Writers can also vary second reference by using personal pronouns and by judicious use of nicknames or epithets (for example, â€Å"the Wizard of Menlo Park,† for Thomas Edison). Other possibilities are occasional use of first and second initials, or even all initials, for those people popularly known by such appellations, such as JFK for John F. Kennedy. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Style category, check our popular posts, or choose a related post below:Math or Maths?Used To vs. Use ToHow often is "bimonthly"?

Summary of the books of the Bible Part II (New Testament Books) Essay

Summary of the books of the Bible Part II (New Testament Books). (Matthew to Revelation) - Essay Example This book has a great emphasis on Jesus’ teaching ministry. In Matthew chapters 5-7, there is a collection of teachings called The Sermon on the Mount. In this great sermon are The Beatitudes, which is a list of heart attitudes and character qualities that bring blessings, as well as The Lord’s Prayer. Mark is the shortest of the four Gospels and tells the story of Jesus in a style that is simple and concise, yet detailed. It focuses on facts more than on themes and on actions more than attitudes. Because of Mark’s straightforward and unadorned approach, many believe this book gives a much more vivid account of Jesus’ life and ministry than the other Gospels. Scholars believe Mark’s Gospel was written during a time when Christians were viciously persecuted and killed for their faith. This may be the reason for the sense of urgency we feel in Mark and for its emphasis on the cost of following Jesus. Luke’s Gospel is the longest of the four Gospels and presents Jesus as the Savior of the world; it highlights the ministry of the Holy Spirit; and it pays particular attention to women, children, the poor, and the oppressed. Luke contains many wonderful stories and lessons, including one of the greatest and most important truths for any Christian’s life: â€Å"For with God nothing is ever impossible and no word from God shall be without power or impossible of fulfillment† (1:37). In Luke 4, it is seen that the devil is tempting Jesus in the wilderness and every time the devil says something, Jesus immediately responds, â€Å"It is written, †¦Ã¢â‚¬  and fights back with a verse or passage of Scripture. This is one of the most important passages in the whole of the New Testament, as it is the passage that shows Jesus fighting, and winning over, temptation. One of the themes in John is love – loving God, receiving His love and loving others. In John 13:34, Jesus says: â€Å"I give

Electronic money challenges and solutions Essay

Electronic money challenges and solutions - Essay Example As Bill Gate, the founder of Microsoft puts it: E-payment or electronic payment is a technique of making transactions over the internet or some other electronic system. The transaction takes place in the form of secure data transfer from one end to the other. The greatest advantage of an e-payment based transaction is the speed with which the transaction gets completed. Other benefits include the ease with which the transaction can be completed; the users do not have to be physically present to make these transactions and in fact, both buyers and sellers can meet in the electronic market to make electronic transactions using electronic money. There are various forms of e-payment systems that are in use nowadays. These include credit cards, debit cards, online transfers, wire transfers, e-money like Pay Pal, and other modes through which people make payments over the web. Most of these systems are based on a ID and password system to protect against unauthorized usage. With an increase in the magnitude of online applications and systems, there is a growing threat of security issues, vulnerabilities and exposure on the use of electronic transmission, and internet based systems. This has been a concern for companies, individuals, government and law enforcement agencies. Doing transactions online means making payments for the goods and services that are purchased; this leads to a need for developing a mechanism to make these 'e-payments'. This further translates into developing and implementing a security process to ensure that these transactions are carried out keeping the confidentiality, integrity and availability of the systems intact. An e-transaction is as susceptible to fraud as any other transaction, if not more. The fraudsters are many in the electronic world, are dispersed all round the globe, have update knowledge and expertise about the systems and computers, and are attacking to gain access to, and in many cases, to use the identity, fun ds and communication of a person in illegal, unethical and undesired way. 2.1 Security Issues for E-Money and E-Payment Systems Security of electronic money refers to establishing the confidentiality, integrity and availability of information when it is passed through the electronic system. Some security requirements for an electronic money transfer system are outlined below (British Standards, 2006, p.3): Confidentiality - ensuring that information is accessible only to those authorized to have access to it. Integrity - safeguarding the accuracy and completeness of information and processing methods Availability - ensuring that authorized users have access to information and associates assets when required Authenticity - information should be available to sender and recipient, who must prove their identities to each other Non-repudiation - assurance/ proof that the transmitted message was indeed received (ECD, 2007). 3. Key Challenges and Recommendations for Electronic Payment Systems A description of specific risks and challenges of online transactions is provided below. 3.1 Privacy and

Partnership for Lebanon and Cisco Systems Essay Example for Free

Partnership for Lebanon and Cisco Systems Essay The â€Å"Partnership for Lebanon and Cisco Systems† case study discusses a project developed after the war in Lebanon in July of 2006. After the war, President George W. Bush urged 5 U. S. based companies to partner together to help with the reconstruction efforts in Lebanon, including Cisco systems (led by John Chambers), Intel corp. (led by Craig Barrett), Ghafari Inc. (led by Yousif Ghafari), Occidental Petroleum (led by Dr. Ray Irani), and Microsoft (led by Steve Balmer). The partnership of these 5 successful U. S. companies formed the Partnership for Lebanon, or the PFL, for which a woman named Salam Yamout was appointed as project manager (Jimali, 2011). Upon the formation of the PFL in 2006, the leaders met at the Paris III donor conference with Fuad Seniora, the Lebanese prime Minister, to discuss and develop the key goals that would need to be achieved in the Lebanese reconstruction efforts, and to map out the main initiatives of the PFL (Jimali, 2011). With a primary focus on efficient and productive communities and advancement opportunities for the Lebanese people, they developed the following 5 key objectives for which they made significant progress over the next three years: 1. Emergency Relief and Response: The first of the 5 key objectives, emergency relief and response, was essential to establishing a sense of security among the Lebanese people following the war. From 2006 through 2009, the PFL helped more than 1000 families to rebuild their homes, and helped many communities to resettle. This was a first step toward rebuilding the infrastructure and public society needed for economic and workforce growth (Jimali, 2011). The PFL also rebuilt 10 youth and IT centers, complete with computer labs and Internet technology, providing a training center for over 1400 young people in Lebanon and rehabilitated the schools that stood in the areas most affected by the war, focusing on school safety, quality of student life, and Information Communication Technology (ICT) training (Jimali, 2011). Finally, in order to reduce continued casualties, the PFL trained and certified two dogs to detect landmines, a $65,000 effort that likely saved lives and increased the mobility of the Lebanese people. 2. Job Creation/Private Sector renewal: The next key objective of the PFL was to increase the number of available jobs in Lebanon, particularly in the private sector. Much of the focus on this initiative was suggested by Cisco leader John Chambers, who, in a visit to the American University of Beirut, was affected by the number of highly educated, multi-lingual Lebanese young people who would look for employment opportunities outside of Lebanon immediately following graduation. Noting the emigration of the most capable young workers as a significant obstacle to the future prosperity of the Lebanese people, Chambers suggested the job creation be made a top priority. As a top global leader in the Information Communication Technology industry, Cisco took the lead by developing a $1 million grant program called the â€Å"CREDIT† program, which they used to deliver 133 loans to businesses specializing in ICT (Jimali, 2011). Furthermore, in order to provide learning opportunities for Lebanese businesses, the PFL developed the Executive Mentorship Program, which matched successful U. S. businesses with leaders of Lebanese businesses. 3. Developing ICT infrastructure: As part of the PFL’s job creation efforts, Cisco also took the lead in developing a sustainable Information Communication Technology infrastructure. The first step toward this was to expand broadband service to all rural and urban areas. By partnering with the Lebanese Telecommunications Regulatory Agency (TRA), the PFL developed a long-term strategy for expanding broadband service, which began with the development of several new Internet exchange points and an International Internet gateway. 4. Workforce Training ICT education: Finally in workforce development, the PFL set out to create private sector job opportunities for the uneducated Lebanese population. By creating professional training programs and ICT education, a basic infrastructure targeted at building a middle-class could be developed. The PFL made several achievements in this area, including using high-speed broadband connections to connect 50 public schools to the Ministry of Education, providing online learning materials, sponsoring and ICT/life skills youth summer camp program, placing interns in Lebanese businesses, and helping to integrate ICT programs in Lebanese schools (Jimali, 2011). 5. Developing connected communities and connected governments: The final PFL objective sought to develop connected communities throughout Lebanon. A major stride in this objective involved developing ICT centers where people without broadband capabilities could go to stay connected through variety of Medias. In addition to developing 10 of these ICT centers, the PFL also enabled 5 full-service community access points that were affected by the war (Jimali, 2011). CSR Lessons There are several key strategic lessons that the PFL learned throughout their efforts in Lebanon concerning the creation and implementation of development programs, particularly those that would be able to be adopted by any senior manager. Perhaps the most important strategic lesson was that a targeted, overall objective must be developed in order to maintain the highest likelihood of success. Instead of developing a wide spectrum of initiatives to help rebuild Lebanon, Cisco and the other PFL partners focused on ICT as a means for rebuilding infrastructure and developing economic and educational opportunities for the Lebanese people. By developing this focused mission, Cisco avoided wasting time and resources or putting a great deal of input into unrelated initiatives that may or may not have had beneficial results. Furthermore, by developing a single mission that was within their expertise, Cisco was able to make valuable contributions in a vital area and thus maximize their impact. The PFL recognized that it could not solve all of Lebanon’s problems, but by developing a set of initiatives that Cisco and partnering companies felt well equipped to address, they were able to develop a plan within the ICT industry where it could make a measurable impact (Jimali, 2011). Another key strategic lesson learned by the PFL was that a thorough situational analysis is essential to developing an effective restructuring campaign. This is a lesson that is relevant to any rebuilding efforts, whether it is for a nation, a corporation, or a nonprofit organization. By conducting a detailed situational analysis, Cisco as able to analyze which objectives would create opportunities in Lebanon and how Lebanese government organizations, businesses, and communities would utilize various initiatives. Cisco’s thorough analysis allowed them to develop an effective methodology for implementing various programs, as well as to gain government cooperation and support throughout the process. This analysis also provided Cisco with insight regarding which support and resources they would need to ensure success and therefore allowed them to gather the support they needed before beginning the process in order to produce the fastest and more effective results. John Chambers, Cisco CEO, said, â€Å"In September, we visited Lebanon and we saw a country that can achieve many of the goals itself, but with the proper assistance can achieve them at a much faster pace and rebuild the country for the future, not just rebuild back to where they were before. † (Cisco CSR Report, 2009). Lastly, an essential strategic lesson learned by the PFL concerning the implementation and running of development programs was that a change process must be developed in carefully planned incremental steps, beginning with the development of the infrastructure needed to prepare for the next step. This is especially important for ensuring that the strategy can be adopted by any senior manager, because it allows for a step-by-step map of development that allows managers to build upon previous initiatives. Cisco, Corporate Sponsors, and PFL Because of its expertise in this area and its long-time commitment to investing in community sustainability, Cisco was an effective leader in the PFL’s objectives, providing valuable insight on how to encourage job creation that would continue to evolve over time. Cisco is a leading organization in global networking and communications technology, and was the creator of the multi-protocol router, which revolutionized Internet communications. A company worth $550 billion in 2000, Cisco’s success has been attributed to a focus on customer need that was so targeted that they did not commit to any specific technology and were willing to change in whatever way they needed in order to meet their customers need. It was this willingness to adapt as well as Cisco’s commitment to community and economic investments that made Cisco the right leader for the PFL’s goals. Cisco’s CSR initiatives had always been designed in a way that sought to add value to the organization through strategically planned initiatives and to leverage the company’s core competence and sustainability levels in a way that provided clear and measurable outputs. Cisco also took a lead in the PFL’s educational and professional training programs, which provided crucial career opportunities for the Lebanese people. The Challenge of Sustainability Despite the successful implementation of the PFL initiatives from 2006 through 2009, in September of 2009, PLF project manager Salam Yamout expressed concern to her manager, George Akiki regarding the long-term sustainability of the PLF initiatives. She said, â€Å"The PFL has undoubtedly been successful across the 5 work streams, and has infused much needed resources, support and hope in a context of post-war devastation, but the key question haunting me now is how to sustain this impact into the future. † (Jimali, 2011). Akiki agreed, and thus the question of how Lebanon could sustain the development initiated by the PLF without the generous management and resource contributions of Cisco and PLF partners. While the sustainability challenges faced by the PLF may seem daunting, the educational and job training programs developed by the program can be designed to be self-supporting, these programs, if continued and managed by competent leaders, can allow Lebanon’s ICT related programs to continue to prepare Lebanese people for good jobs. The first step to maintaining these programs is to gather investors from both within Lebanon and from the International community, particularly those who benefit from the increased educational and professional opportunities in the Middle East. Moreover, if the Lebanese government is able to recognize the benefit hat a more vibrant ICT community can offer to the economy, a system of public funding can be developed. Furthermore, if individuals who are trained through these programs can be offered incentives to remain within the program as educators, the programs can become self-sustaining through generations. Conclusion Cisco and the partners that formed the PLF provide an example of an efficient program for utilizing the specific expertise and resources of one industry to enact positive change on a community in desperate need of rebuilding. Their thorough analysis, clear-cut mission, and careful planning in an area that they were well resources in, allowed for an extremely effective rebuilding process. Moreover, Cisco provided a valuable framework for how with productive partnerships and effective leadership, successful organizations can help to address societal problems in a way that adds value to both the community involved and the partnering organizations. Too often, today’s conversation regarding CSR presents in if/or debate, as if companies must choose between economic value and ethical value. The economic argument suggests that corporations are obligated only to shareholders, and that investments made in activities that do not directly maximize profits are irresponsible, while the ethical argument suggests that because corporations benefit from the people and infrastructure of communities, they are obligated to make investments in those communities (Bansal, 2005). However, a modern view of CSR suggests that there is a middle ground where economics and ethics can converge to create longer term sustainable value. Cisco’s participation in the PLF program is an example of this middle ground. In its participation in the PLF program, Cisco expanded its influence in a part of the world where they previously had little reach, thus creating added value to their organization while addressing significant societal problems.

Virginias SOL Testing. :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  The abbreviation SOL stands for, Standards of Learning. The Standards of Learning is a test that was devised in the spring of 1998 to provide information on the progress of students toward meeting achievement levels. To me as a citizen of Virginia, and as a student, I think this test is a burden on most students in all grade levels, and should be eliminated. Because first, the number of tests being administered to student each year is outrageous, second, the penalties a student has to face for failing are too harsh, and third, it puts the school in jeopardy of losing its accreditation which is a no win situation. Virginia’s Standards of Learning has come under much criticism over the past couple of years, and I for one think it deserves to be criticized. Each year student in every school district across America have to take two or more test such as, the (LPT) Literacy Passport Test, the Stanford-9 exam or the (SOL) Standards of Learning, depending on the grade level. In two out of these three tests, students are required to pass in order to graduate, and judging by last years test scores, most students future would be endangered if they are unable to bring there score up. This has led to the question, â€Å"are we testing our students too much†? This question was bought up at a General Assembly meeting in March of 2000, the Virginia Board of Education responded by saying they would move the Stanford-9 exam from the spring to the fall, so it would not interfere with the spring SOL tests. But this still is not enough for me, because all of these tests are designed to do one thing, and that is to evaluate a student’s comprehensive knowledge of a certain subject. So what I don’t get is, why do a student have to take two or more test a year just to evaluate his understanding of a certain subject.   Ã‚  Ã‚  Ã‚  Ã‚  Since this test has been devised, the number one question everybody is asking is, â€Å" isn’t it unfair to base a student’s entire future on one test, when he or she simply could have had a bad day when taking the test†? The president Kirk T. Schroder of the Virginia Board of Education, answer this question by saying, â€Å"First of all, these tests are untimed, so no student is under arbitrary time pressure in taking the test.

Mary Schapiro and Leadership Essay

In her role at the SEC, Mary Schapiro was known as one of the world’s most powerful female regulators. She was named chair in the midst of the worst financial crisis since the Great Depression. As chairman, she helped strengthen and revitalize the agency by overseeing a more rigorous enforcement program and shaping new rules for Wall Street. During her tenure, the agency’s work force brought about a record number of enforcement actions and achieved significant regulatory reform to protect investors. Schapiro leaves behind an agency that has regained its footing, stature, and morale following desultory leadership under its previous two chairmen and its embarrassing lack of action preceding the financial crisis. Under Schapiro, the SEC, which is usually thought to be the most prominent and important financial regulatory body in the country, brought a huge number of enforcement actions against financial institutions. Her job was to assess what went wrong and to ensure it d idn’t happen again. During four years as SEC chairman, Schapiro presided over one of the busiest rule-making agendas in the SEC’s history, during which the agency also brought a record number of enforcement actions, and executed a comprehensive restructuring program to improve protections for investors. Upon her departure, President Obama praised her leadership, saying the SEC became stronger and the financial system â€Å"safer and better able to serve the American people-thanks in large part to Schapiro’s hard work.† Change Management Change management is designed to ensure the effective transition of an organisation and its people from the current to future states, and in so doing support the realisation of business benefits. In the context of strategy, it is the realisation of the strategic plan. Change management is about effectively leading and managing individuals, teams, and the organisation to successfully adopt the changes needed to achieve required or desired business results. Success in Organisational Change Follows Recognisable Patterns – Kotter’s 8 Steps Harvard Business School Professor John Kotter is well known for identifying a pattern for leading successful organizational change. Yet, we cannot be sure that the President, members of Congress, and key Federal Reserve, Department  of the Treasury, and SEC personnel (including Chairman Schapiro) are familiar with this work and with other similar guidance from change leadership literature. And even if some or all of the change agents impacting a restructuring of the SEC are familiar with this work, it is unclear whether any of those change agents are consciously using this learning and incorporating useful elements from Kotter’s books into the SEC reorganization process. Studies of organizational change have shed significant light on the elements of a successful reform effort. Leaders effectuating reform at the SEC do not have to â€Å"reinvent the wheel† as they initiate, manage, and institutionalize organizational change. Kotter’s model is organized into eigh t stages designed to address eight observed mistakes made in efforts for organizational change: â€Å"establishing a sense of urgency†; â€Å"creating the guiding coalition†; â€Å"developing a vision and strategy†; â€Å"communicating the change vision†; â€Å"empowering broad-based action†; generating short-term wins†; â€Å"consolidating gains and producing more change†; and â€Å"anchoring new approaches in the culture.† Each stage has identifiable characteristics. 1. Establishing a Sense of Urgency â€Å"Visible crises can be enormously helpful in catching people’s attention and pushing up urgency levels.† To be sure, the SEC has experienced visible crises over the past few years. Admissions of significant failures at the SEC extend back over more than two years’ time and cover multiple areas of SEC operations. â€Å"The natural superiority of the U.S. model for securities regulation is no longer an article of faith, and the credibility of the SEC as a financial regulator has never been lower.† although the SEC has long been â€Å"the crown jewel of the financial regulatory infrastructure,† recent developments have called that characterization into question. The SEC has been the target of relentless criticism ranging from claims that it mishandled derivatives regulation, oversight of securities firms, and market risk, to assertions of delays and blunders and possible industry capture at the Division of Enforcement. These criticisms followed th e Treasury Department’s Blueprint of Financial Regulation-released in March 2008-that criticized the SEC’s approach to regulation as obsolete and proposed a plan of regulatory consolidation that would effectively lead to the agency’s demise. Most recently, the revelation that the SEC failed to discover a $50 billion Ponzi scheme at Madoff Investment Securities, despite having received allegations of wrongdoing for over a decade, suggests fundamental weaknesses in its core enforcement operations. To be successful at organizational change, however, a change leader must use the crisis to shake up the organization. This requires that the change leader â€Å"remove sources of complacency or minimize their impact† and take actions that are â€Å"bold or even risky.† Kotter uses the concept of fire in a building as a proxy for crisis in an organization, writing that â€Å"conducting business as usual is very difficult if the building seems to be on fire.†Interestingly, Chairman Schapiro invoked fire imagery in comments to reporters as she made changes to SEC operations shortly after taking office. Moreover, in a recent speech, Chairman Schapiro noted the rapid pace of change at the SEC over the preceding year: I know that change is hard because within our agency we have been engaged in some of the most significant change in decades. When I arrived at the agency last January, we began a process of assessing our operations and determined we could do better. We de termined that we needed to change. And that is the path we have chosen. The personnel changes instituted at the SEC may be seen as examples of sweeping change. The discomfort and discontent of the SEC staff in response to the personnel changes may be evidence of the brash nature of these personnel changes. Kotter’s work predicts this kind of reaction. He notes that â€Å"bold moves that reduce complacency tend to increase conflict and to create anxiety, at least at first.† 2. Creating the Guiding Coalition Leading change is not a solitary task. Because major change is so difficult to accomplish, a powerful force is required to sustain the process. No one individual, not even a monarch-like CEO, is ever able to develop the right vision, communicate it to large numbers of people, eliminate all the key obstacles, generate short-term wins, lead and manage dozens of change projects, and anchor new approaches deep in the organization’s culture. Instead, what is required is a strong leadership team-a team â€Å"with the right composition and sufficient trust among members.† In terms of composition,  Ã¢â‚¬Å"four key characteristics† are important: â€Å"position power†- the entire group who will be charged with making progress in areas of needed change, â€Å"expertise,† â€Å"credibility,† and â€Å"leadership.† Trust is borne of activities that â€Å"create . . . mutual understanding, respect, and caring.† Trust is important because it can lead to the effective creation of a â€Å"common goal† or â€Å"shared objective.† Chairman Schapiro has changed the leadership team at the SEC. We must question, however, whether the team has the right characteristics and the requisite trust. Certainly, the credentials of the SEC Commissioners are quite impressive in terms of expertise, credibility, and leadership skills. Chairman Schapiro has put a premium on attracting to the SEC people with an expansive set of experiences and skills. Moreover, the published remarks of new leaders in the Division of Enforcement-people with position power-are impressive in their indication of a collective change momentum. New leaders continue to emerge, making the membership of the guiding coalition unsettled and unclear. The executives who ignited the transformations from good to great did not first figure out where to drive the bus and then get people to take it there. No, they first got the right people on the bus (and the wrong people off the bus) and then figured out where to drive it. In general, public information sources are not detailed enough to enable a comprehensive assessment of the suitability of the composition of Chairman Schapiro’s guiding coalition. For example, according to Kotter, â€Å"you need both management and leadership skills on the guiding coalition, and they must work in tandem, teamwork style.†He offers matrices that illustrate optimal compositions. Publicly available information does not enable us to determine whether or not the SEC guiding coalition has the optimal balance of management and leadership skills. Only as the exact identity of the leadership te am emerges and the team takes concerted and coordinated action will we be able to evaluate its composition. As difficult as it is for us to appraise the team’s composition, it is more difficult for us to assess whether the guiding coalition has the required trust. Although I have not found evidence that ostensible members of the SEC guiding coalition have engaged in team-building exercises or attended a retreat at which intra-group trust may have been engendered, the SEC’s recent self-assessment’ may be a sign that mutual trust is being promoted throughout the agency. As new people are identified for inclusion on the change leadership team, they will need to be effectively brought into the â€Å"circle of trust.† 3. Developing a Vision and Strategy To achieve successful organizational change, a leader needs to have both vision and a strategy to implement that vision. â€Å"Vision refers to a picture of the future with some implicit or explicit commentary on why people should strive to create that future.† Vision serves to channel change in a particular direction and incentivizes and coordinates change in that direction. Chairman Schapiro seems to understand this aspect of change leadership, and she also seems to be incorporating it into the SEC’s operations. Her vision for a reformed SEC refocuses the SEC’s activities on one of the key policy underpinnings of the federal securities laws: investor protection Another lesson I have learned is to have a vision about where you want to take your organization and stick to your principles in getting there. Principles are not ideologies. They are different. Maybe it’s a question of degree. Maybe to some it’s semantics. But as I see it, unlike ideologie s, principles don’t seem to demand a particular answer to every problem that emerges. We’ve seen how strict adherence to ideology played out over the last decade in the financial arena. â€Å"Free market ideology† together with rapidly changing technology, globalization and many other accidental causes led too many of us to forget hard-learned lessons from past crises and abandon basic common sense. Principles, on the other hand, help frame a question, an issue or a problem. Having a principle might highlight tensions and trade-offs of particular choices, but rarely do they force you to choose between a good solution and a worldview. For me at the SEC, my main principle is putting investors first. And, I try to stay focused on that every day. And the goal is to build an SEC that is deeply expert, nimble, and aggressive-that gives investors confidence. In fact, as Bob Glauber can attest, I have a sign posted on my door that says â€Å"How does it help investors?† It’s a simple question, but it guides all that I do at the SEC. And, all those who enter my office understand that is the prism through which we will consider all issues. It doesn’t necessarily dictate the outcome of every issue that lands  on my desk-because there are many solutions to any problem that could aid investors. But, the principle helps to shape our thinking and steers us in the right path. Vision is implemented through strategy. â€Å"Without vision, strategy making can be a much more contentious activity†¦. Even more so, without good vision, a clever strategy or a logical plan can rarely inspire the kind of action needed to produce major change.†Ã¢â‚¬Ëœ Chairman Schapiro’s vision has guided structural and operational change at the SEC as well as substantive rulemaking. Some credit her clearly conceived vision and the related rapidly employed strategy for saving the SEC from more significant structural or operational change. 4. Communicating the Change Vision According to Kotter, the larger the audience for the change vision, the more powerful it may be. A great vision can serve a useful purpose even if it is understood by just a few key people. But the real power of a vision is unleashed only when most of those involved in an enterprise or activity have a common understanding of its goals and direction. That shared sense of a desirable future can help motivate and coordinate the kinds of actions that create transformations.’ A leader must be careful to communicate the change vision broadly, frequently (repeatedly), and consistently. The message conveying the vision must be direct, clear, simple, and geared to its targeted audiences. Metaphors, analogies, examples, and florid prose may be helpful in this regard. The means of conveying the message should be varied: oral and written, large forum and small group, and through words and actions. Finally, to ensure understanding, the communication of the vision should be a two-way street , involving both give and take as well as conveying and listening.† Chairman Schapiro has engaged in significant public speaking in which she has regularly and repeatedly informed and reminded the SEC staff and various elements of the public about the SEC’s recommitment to investor protection and the linkage of that vision to structural and operational changes at the SEC. Chairman Schapiro regularly appeared before congressional committees and subcommittees, and she has communicated her vision in these arenas as well. She used memorable analogies, examples, and words to convey the SEC’s organizational change message.’ Evidencing an appreciation for two-way communication, soon after  her appointment, Chairman Schapiro took action in response to staff suggestions that enforcement efforts against corporate violators of the securities laws were too difficult. Moreover, the self-assessment process and related ongoing staff communications are evidence of two-w ay communication about the structural and operational changes that have been taking place at the SEC. And Chairman Schapiro has continued to express belief in capturing a variety of viewpoints in decision-making. 5. Empowering Employees for Broad-Based Action To implement the leader’s vision, employees need to be able to take action. This may mean clearing away structural barriers, skill deficiencies, systemic obstacles, and supervisory impediments that may forestall effective employee participation in change efforts. Many of the structural and operational reforms implemented by Chairman Schapiro appear to be designed to empower SEC staff members for action that carries forward the change vision of the SEC. The efforts of Chairman Schapiro to listen and respond to staff concerns about unnecessary enforcement hurdles are examples of initiatives to streamline structure. In addition, the restructuring of the Division of Enforcement is geared to clear structural barricades to effective enforcement efforts.’ The decision to retain staff with â€Å"non-traditional skills† and the implementation of new staff training are examples of efforts to remedy skill deficits. Human resources and information systems have been or are be ing improved in response to deficiencies identified in the SEC’s self-assessment and the OIG’s investigation, report, and recommendations. In the Division of Enforcement, supervisory positions are being eliminated, supervisory personnel are being replaced, supervisory responsibilities are being realigned, and supervisory attitudes that may have impeded investigations are being corrected.’ 6. Generating Short-Term Wins Because the organizational change process is slow and constituents can be impatient, it is important for a change leader to accomplish certain limited objectives in the short term. Major change takes time, sometimes lots of time. Zealous believers will often stay the course no matter what happens. Most of the rest of us expect to see convincing evidence that all the effort  is paying off. Nonbelievers have even higher standards of proof. They want to see clear data indicating that the changes are working and that the change process isn’t absorbing so many resources in the short term as to endanger the organization. To be effective in sustaining organizational change efforts, short-term wins must be â€Å"both visible and unambiguous.†Ã¢â‚¬Ëœ They also must be â€Å"clearly related to the change effort.† And in an effective change effort, they are planned, not accidental.’ SEC Chairman Schapiro accomplished some highly publicized early wins after her appo intment was confirmed. In particular, she swiftly moved to remove perceived barriers to enforcement of the securities laws against public companies. She publicly promoted these changes, and they were picked up by the news media.’ These efforts generated support in and outside the SEC. The achievement of these short-term wins on a staggered but consistent basis has kept the SEC’s structural and operational reforms in front of the SEC’s staff and the public, building consensus around and momentum for the SEC’s self-initiated reform efforts and distracting attention from more substantial externally generated suggestions for change. 7. Consolidating Gains and Producing More Change The long-term time horizon for organizational change not only makes short-term wins advisable, but also may make early declarations of victory problematic. It is important that the sense of urgency created by the change leaders is sustained for the long haul. Short-term wins are essential to keep momentum going, but the celebration of the wins can be lethal if urgency is lost. With complacency up, the forces of tradition can sweep back in with remarkable force and speed. Although a rapid, consistent pace of change at the SEC was sustained over the first fifteen months of reform, Chairman Schapiro as well as other SEC change leaders, needed to maintain the change momentum by continuing to introduce reforms on a regular basis. Having gone so far, the SEC could have lost all of the gains it had made in organizational change merely by relaxing into complacency. â€Å"Until changed practices attain a new equilibrium and have been driven into the culture, they can be very fragile.†Ã ¢â‚¬Ëœ To reach that equilibrium, in addition to engaging in more and continuous change, the SEC should bring in additional change agents, continue to foster leadership from its senior managers, recruit and nurture project management and leadership from lower ranks in the hierarchy, and identify and decrease or eliminate unnecessary internal structural and operational interconnections that often make change efforts more complex.’ These types of efforts in change management are difficult and pervasive. 8. Anchoring New Approaches in the Culture Finally, to prevent regression, change leaders must address and resolve any incompatibilities between the changes that have been made and the organization’s culture-friction in the group’s system of behavioural norms and shared values. This is not as easy as it may sound. These norms and values may apply to the organization as a whole or only to certain parts of the organization, and it is important to achieve compatibility on both levels. Moreover, culture is change-resistant and nearly invisible. Yet, the failure to address inconsistencies between a change effort and the prevailing culture can undo years of reform.’ Accordingly, it was important that Chairman Schapiro understood the applicable behavioural norms and shared values of the SEC and the Enforcement Division and their respective relevant cultural sub-groups as they continue to reform the SEC and the Enforcement Division. Because the core vision of investor protection should not be entirely inconsisten t with the SEC’s culture (in whole or in pertinent part), these and other change leaders at the SEC should be able to â€Å"graft the new practices onto the old roots while killing off the inconsistent pieces.† The important thing will be for the SEC’s change leaders to continue to remember the organization’s heritage and link it to the organization’s new and ongoing operations and objectives.

Gender in Jackie Kay’s Trumpet

Abstract The overall impact of the role of gender and prejudice have an influence in every society in every nation around the world. This study examines the literature that has the potential to illustrate many of the controversial subjects emerging in society today. Beginning with a base assessment of Kay’s work allows a far greater depth of understanding and appreciation to be created. This piece critically defines the aspects of the Trumpet in order to illuminate a vital point of needed evolution. With a lasting story line, this analysis can be applied to a wide variety of studies in order to add fundamental quality and understanding. The issues of gender and empathy in the realm of literature have consistently been an area of discussion, with a wide range of interpretation. This study examines the role of gender in Brewer’s theory of structural affect as well as assessing how Jackie Kay’s Trumpet establishes empathy through its portrayal of gender. Alongside this assessment will be a discussion on how Trumpet fits within the categories of queer and postmodern writing in relation to the continuum of Scottish literature at the end of the 20th and beginning of the 21st century. This view is necessary in order to grasp the relevance of a transgendered lead character in an award-winning literary novel. It is through the utilization of symbolism that Kay illustrates a relatable link enabling her view to emerge clearly. Establishing key points of the plot through metaphor enables Kay to create a tale that is both easy to assimilate and interesting to explore for the reader. From the onset, the information in Trumpet is designed to drive the reader to empathize with Millie’s pain at the intrusion of media after the death of her beloved husband. This emotion is evident in the opening sentence as the author invokes the image of a widow that is afraid to fully open the curtains because of what lies beyond (1998, p.1). This approach is designed lead the reader to sympathize with Millie by describing her anxiety and pain at the paparazzi surrounding her home in a manner that allows them to readily associate with the situation. â€Å"Even here now the sound of cameras, like the assault of a machine gun, is playing inside my head. I can’t get the noise to go no matter what I do,† (p. 2). Sharing Millie’s misery at the hounding by the media, Kay draws the reader deep into the plot before ever revealing that this is a queer story. The use of gender, and societal prejudice, provides a critical background upon which to build the overall storyline. The ability to define the character prior to revealing potentially perception changing information adds depth and associable elements to the plotline. This is a prime example of Brewer’s theory of affect accurately determining the direction of the literature. Using structural affect, Kay is careful in her initial descriptions of Joss in order to describe him as Millie observed him (1998 p. 3). This ensures that that the reader, although sympathizing with Millie, also identifies her as a reliable narrator. This is a vital point that must be emphasized as the plot line relies on the strength of the narration to progress. The story evolves in such a manner that the reader never believes that Millie is lying about her mistaken certainty that Joss had been born male until their first sexual encounter. By that time a critical point has passed, Millie is in love and the reader has come to know Joss as she saw him during that time (p. 3). Before revealing the deep dark secret that has led to the media scrutiny and the enmity of Millie’s son, Kay takes the tale back in time to introduce Millie’s love story with Joss (1998, p. 4). This creates a form of empathy with the reader that allows them to remember what it feels like to fall in love. Creating a mechanism that invokes a real sense of companionship serves to highlight the tender aspect of the story. This is an illustration of her effective implementation of the structural affect theory. †¦the emotions of the reader are systematically determined by the configuration of the plot and the knowledge states of various agents. For example, consider what happens when the reader has the emotion of surprise. The author withholds critical information at the beginning of the story, information that is necessary for a correct interpretation of the story. Later on, the critical information is revealed, which triggers surprise in the reader. (Graesser and Klettke, n.d., p.2) The writer manipulates the reader’s reaction to specific points of the story by choosing what is revealed and when. This tool is utilized to draw out the main events and bring the entire plot into focus. Even when Millie has her first sexual encounter with Joss, as he/she removes the binding on her breasts, the revelation of Joss’ secret is hinted at rather than announced (p. 20-21). Throughout the story, Kay manipulates the emotional and intellectual response of the reader in order to ensure that the overarching theme remains firmly in the readers mind. To accomplish this, the author utilizes the method of introducing Joss as Millie sees him: as the person she loved, the adoring father, the respected member of the community as well as the sensitive musician (p. 5). Brewer’s structural affect theory focuses on the influencing the psychology of the reader through the literature. †¦Brewer tested his model by (a) manipulating features of the text and knowledge states of the reader and (b) observing whether these manipulations systematically predicted readers’ self-reports of particular emotions and how much they liked the story. The structural affect theory fared quite well in accounting for the psychological data. (Graesser and Klettke, n.d., p. 3). Millie’s early reminiscing is one of the methods that Kay uses throughout this story, this serves to set the stage for the narration to a point. Writing in the first person, Kay relates the tale through Millie’s perception and allows a real sense of personal emotion to reach the story. This included the idea that perhaps she had â€Å"hurt his manhood,† (p. 39) when she expressed her desire to have a baby. Kay employs the affect principle to allow the reader to sympathize with Colman over what he views as his parents’ betrayal (1998, p. 40). She accomplishes this by interjecting a chapter in the third person as a means to make it absolutely clear that Joss had been born and died a female. By moving back and forth between narrators, the author enables a wide range of views to emerge. This instrument is effective and enables the author to transitions back into a first person narrative, this time with Colman as the narrator. Like his mother before him, Colman begins thinking of his father as he reflects on the elements that made Joss a good father (p. 41). The loathing that the reader subsequently develops for Colman is his own doing, based in part on his self-description. â€Å"It was all right, it was, being Joss Moody’s son. Only when I became Colman Moody did everything start to become a total fucking drag. It’s a tall order when you expected to be somebody just because your father is somebody,† (p. 45). Through Colman’s narration, we see Kay explore the feelings of being the adopted child. This is a critical point, as much of the story hinges on these negative emotional feelings. This is a direct association to the desire to look like one’s adoptive parents as well as the child’s efforts to have a normal life with unconventional parents. She even helps the reader to understand why Colman is angry, embarrassed even, that not knowing his father’s secret made him look stupid (p. 46). Overall, the structure of the novel is meant to make Colman appear more callous than sympathetic. This is an attempt by the author to ensure that the plot progresses in a manner that benefits the underlying story. In the early chapters, we learn that Colman refuses to take his mother’s calls and then later that he has sided with a tabloid reporter who wants to write a biography of Joss (1998, p. 15). The reader feels his betrayal of his parents in the action because of the way Kay structured the story. If Kay had led with Colman’s narrative, focussing on the son’s negative memories of his parents and that they failed to provide the child with what he viewed as a ‘normal’ home life, Colman might have been a more sympathetic character to the reader. Instead, Kay uses her structure of the novel to manipulate the reader’s reaction to the character in a manner that adds to the underlying plot. This adds readability and long term credibility to the story. Kay utilizes structural affect to create a postmodern novel in that the tale embraces popular culture and accessibility. In the introduction to her book Postmodernism and Pop Culture (1994), Angela McRobbie argues that one of the defining characteristics of postmodern texts, whether art or literature, is accessibility: Not only was meaning in art or in culture all there, for all to see, stripped of its old hidden elitist difficulty, but it also, again as Jameson pointed out, seemed already familiar, like the faint memory of an old pop song, a refrain, a chorus, a tune, a ‘cover version’ of an original which never was. (2005, p. 3) In essence, McRobbie (1994, p. 1) argues that postmodern works would tell us the meaning behind Mona Lisa’s smile, rather than forcing art critics to speculate on it for 400 years. Kay does not go so far as to spell out the entire intent of the novel in her narrative, she employs the story itself to provide a means of motivation to progress. This is illustrated in the fact that the lesson to his son is about choosing one’s own identity. â€Å"The pictures called Mumbo Jumbo which has made me angrier than anything I can remember. He’s not given a name. Even the name he was given, John Moore, was not his original name,† (p. 276). Joss’ letter for his son discusses the idea that the name other people give us is perhaps less important than the name we give ourselves. This theme adds to the personal value experienced by reader. He, for example, might have been born Josephine Moore, but that was not who he was (p. 276). As Joss explains these things to his son, he makes it clear that no matter what label or name a person is given, they choose for themselves who they will be. â€Å"That’s the thing with us: we keep changing names. We’ve all got that in common. We’ve all changed names, you, me, my father. All for different reasons. Maybe one day you’ll understand mine,† (p. 276). McRobbie argues that postmodernism is also intended to â€Å"force us to think seriously about the trivial† (p. 3). While it is incorrect to label the issues that Kay raises as â€Å"trivial†, there is an aspect of the novel that does seemingly grasp at this approach. Intertwining these elements lends depth and charm to the story, which in turn increases the final impact. In the chapter written in the third person, describing the doctor who comes to make out Joss’ death certificate, the physician finds it necessary to cross out â€Å"male† and â€Å"write† in female and then write it again, more distinctively (Kay p. 276). The author makes it clear that this seems trivial. This is a purposeful effort to guide the reader to make assumptions that are essential to the story. The question, implied by the text and the remainder of the novel, is how does it matterDid the sex assigned to Joss by birth affect the core of who he was, how he loved his family or the music that he madeThe intent then of the work is to make the reader ask if the sex we are assigned at birth is important to whom we are. Or, is gender a trivial matter than can be changed to reflect who we are as human beings? Kay’s writing has had a positive impact on the development of Scottish literature at the end of the 20th century. One of the major factors identified by some scholars is that Kay’s work, and others like it, help move Scottish literature away from the concept that there is a homogeny in the writing there (Shirey p. 5). Kay’s plot line creates an inclusive perception that enables a wide range of acceptance on the part of the author. This translates directly into an international perception of tolerance outside of the traditional norms. The second case, the loss of population, is of course related to the pervasive anxiety in modern Scotland over emigration—the recurring sense that many of the potential architects of the Renaissance were contributing their energies towards diasporic communities around the world or towards the continued, futile administration of British imperial power at precisely the moment of that power’s decline. (Shirey, p.6) There had been an perception that the rebirth of Scottish literature was not progressing due to the fact that the writers were either writing about their histories and cultures from before settling in Scotland or that they were so concerned with British approval that they were not distinctively Scottish (p. 7). The ability for Kay to reach out and touch a sensitive portion of the population through the shared experiences of her characters adds to the recognition of Scottish credibility. Her ability to tie in the gender issues of her characters in such a relatable manner illustrates a fundamental knowledge of the issues, which in turns adds gravitas to her entire effort. Where Kay (p. 15) differentiates Trumpet from these trends is that her characters think of themselves as definitively Scottish. This strong national identity adds strength to the notion that the region remains strong in poignant literature. Joss, for example, knows that his father was from somewhere in Africa, but he teaches his son to think of Scotland as his home (Kay p. 276). This allows them to remain Scottish, even though much of their life and experience lies outside of the nation. Kay also takes her characters beyond the stereotype of the Scotsman in her further contribution to Scottish literature. There is a real sense of progression and development on a cultural and national level throughout the entire story. Kay’s contribution to Scottish literature is that she refuses to mould her Scottish nationalism to a white heterosexual history. This is an important point that she makes no apologies for. She makes it clear that not only are the authors of Scottish literature no longer â€Å"straight† white men, neither are the characters. A reflection of modern life creates a real window for the reader to experience the travails of the characters. This allows her writing to carry not only a decisive and relatable story line about a delicate topic, but a real perception of strength and inclusive nature that illustrates the potential of an evolving culture. In the end, Kay’s work has built a solid foundation upon which to continue to build new and more enticing works. References Bennett, A. and Royle, N. (2004) Introduction to Literature, Criticism and Theory, 3rd ed, Pearson Longman, Harlow. Retrieved from mhttp://site.iugaza.edu.ps/ahabeeb/files/2012/02/An_Introduction_to_Literature__Criticism_and_Theory.pdf Bird, D., Dixon, R. and Lee, C. (2001) Authority and Influence: Australian Literary Criticism 1950-2000, Brisbane, University of Queensland Press. Retrieved from http://espace.library.uq.edu.au/eserv.php?pid=UQ:8899&dsID=Bird_Intro.pdf Graessar, A.C. and Klettke, B. (n.d.) Agency, Plot, and a Structural Affect Theory Of Literary Short Comprehension, The University of Memphis. Retrieved from http://www.memphis.edu/psychology/graesser/publications/documents/IBSCHB2.pdf Kay, J. (1998) Trumpet, New York, Vintage Contemporaries. McRobbie, A. (2005) Postmodernism and Pop Culture, Routledge, London. Retrieved from ttp://m.friendfeed-media.com/b64ddf30a52cfe50d0a7907b198b1b67214613d5 Shirey, R. D. 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