Personal Narrative - Suicide and the Death of My Father :: Personal Narrative Essay Example

The Death of My Father My father and I went hiking together just about every year since I was born. Some years it would be just the two of us, and some years my brother David would come too. When we first begin doing this, we used to stay in our own tent that we would carry upon our backs, but as my father got older, we gradually shifted from tents to staying in lean-tos, then log shelters, and finally to the comfort of the huts that the Appalachian Mountain Club runs on some of the ranges in the White Mountains. With these huts, you get to the top of a peak and find blankets and a hot meal waiting for you. My father and I left three days ago for our annual hike. On our second day, two days ago, we had had a long, but good, day. We had made it most of the way up Mount Lafayette on the edge of the beautiful Pemigwaset wilderness, and we pulled into the Appalachian Mountain Club hut there for a meal. We were enjoying our dinner together, and he was looked comfortable and content. Just before dessert was to be served, my father suddenly slumped forward in his seat and died. Halfway through our hike on the day that he died, I thought my father might have looked a little tired, and I suggested that perhaps we should turn around and take an easier route to a different hut, but he didn't want to. He said that he was doing fine and that besides, we had already made reservations at this particular hut. I said to him: "If something happens to you, do you want people to say `He kept on going because he didn't want to lose his hut reservation?" And he replied, "I think that if something happened, they'd say: `he did it because that's who he was.'" I can say that he died peacefully in a beautiful place and I can say that he probably died proud, not just proud of the determined recovery he had made from a car accident this past winter, but proud of living his life as he always had - making his own choices and choosing his own path. But these things will never be any real consolation to us for the 20 years more that my father should have been with us, sharing his unique mix of stubbornness, humor, wisdom, cynicism, and especially love - a love of life, a love of his family and a love of his community.

Corporate Governance In Australia Essay

INTRODUCTION Corporate governance is the process by which the corporate can implement proficient decision making, appropriate resource allocation, and involve in strategic planning. It concentrates on how objects of are laid down and attained, how risk is watched and evaluated and how performance are maximized. Corporate governance helps corporations to construct value through innovation, provide accountability and to implement proper control system to quantify the risk involved. Corporate governance has become more relevance to determine the cost of capital in a global capital market. So as to facilitate the Australian companies to compete internationally and to preserve and promote investor’s reliability both in Australia and overseas, corporate governance is to ensure to review those practices to reflect both local and international developments and position. Corporate governance must be evolutionary and receptive to the information requirements of local and international investors. In Australia, Corporate governance has been defined by two chief guides viz. ‘Corporate Practices and Conduct ‘issued by the Bosch Committee in 1995 and ‘A guide for Investment Managers and Corporations â€Å"issued by IFSA in 1997 and also by ASX publications and the Australian Institute of Directors. Most definitions on corporate governance refer mainly the following: The devise by which companies are controlled and directed and The devise by which those who control and direct a company are supervised. FUNDAMENTALS OF CORPORATE GOVERNANCE: To explain the functions of the management and the board clearly. The Board is vested with a balance of skills and independence. More emphasis on the honesty on decision makers on corporate’s plan and financial performance. To inform periodically the investors the important happenings in corporate financial activity and enhances the integrity of the corporate reporting. To report all material factors in time and with a matured outlook. The shareholder’s rights shall be clearly acknowledged and to be honored. Business decisions with inherent risk and uncertainty is to be handled with proper internal control. To cope with the modern risks of business, introduction of formal mechanisms to enhance board’s and managerial effectiveness. Proper rewarding system should be designed to attract skills required to achieve the result anticipated by shareholders. Good governance takes care of the interest of all stakeholders . In Australia, relevant disclosures are made in a separate corporate governance section of the annual report of a company. Australian Corporate Act requires certain information is to be included in the director’s report and these informations can be included in the corporate governance section in the annual report of the corporation. The main general salient features of corporate governance codes are: It is the way of guaranteeing that the implementation of economic power by the corporate sector. Board of Directors of a corporation has inherent managerial and supervisory function. It ensures that there is a demarcation between managerial and supervisory roles. It includes the separation of the office of the Chairman and CEO, the installation of independent directors, formation of committees of Board like remuneration, audit, share transfer etc. Major codes of the corporate governance deals with disclosures to shareholders more particularly director’s remuneration, top executive remuneration, independence of directors and shareholding pattern etc. Thus corporate governance is aimed at the maximization of shareholders wealth and to protect their interests. While the corporate governance is helpful to instill confidence on investors and at the same time if there are grave governance deficiencies, the investors may shun the shares of individual companies, a section of markets or even national capital markets. Westpac Banking corporation of Australia has not only stood top of the Australian corporate governance league race in 2004 but also only the bank on international level to enter into the global top 20 corporates as appraised by Governance Metrics International , an International rating agency.[1] The annual IR Magazine Australia awards for   2005 had been awarded to the following Australian companies for their best corporate governance in investor relations by ASX 100 company viz. ANZ , BHP Billion , Blue Scope Steel, and Stock land.[2] COMPARISON BETWEEN CORPORATE GOVERNANCEANDCORPORATE RESPONSIBILITIES: The recent scandals in US like Enron, WorldCom, and Adelphia has compelled the governments across the world to promulgate enhanced legislation, improved corporate codes and corporate boards have been â€Å"re-balanced† to have more independent directors. Corporate responsibility is nothing but the extension of governance beyond simple compliance to squeeze wider social values. A recent survey finds that of late more business heads and corporate investors are factoring corporate responsibility into their decision making process. Thus the corporate responsibility has become vital or pivotal consideration in investment decisions. As per views of business heads, corporate responsibility should include ethical staff behavior, good corporate governance and transparency where as for investors, transparency, good corporate governance and ethical staff behavior were the top most concern.   Further it is revealed that corporate responsibility could augment corporate’s bottom line and resulted in intangible advantages of brand enhancement and better staff morale but it has disadvantages also like unproven business benefits and high cost involved . The Role of ASIC (Australian Securities & Investment Commission) in corporate governance: The ASIC mainly supervises and enforces compliance with the various provisions of the Australian Corporations Act that are devised to control and influence the exercise of power by top managers and directors. The major supervision provisions include duties of directors, general meetings of the company shareholders, and transactions with the related parties. But the full compliance by the corporates can not be possible unless there exists adequate enforcement mechanism. Hence support of the government is needed for the enforcement mandate of their securities market. ASIC has successfully through its various ranges of enforcement measures have brought a series of civil, administrative and criminal actions to bring accountability to wrongdoers. Former CFO of Harris Scarfe was sentenced to 6 year imprisonment in a criminal charges leveled against him by ASIC[3]. Likewise, civil penalty proceedings were initiated against erstwhile directors of HIH. Court held that they breached their duties as directors under the Australian Corporations Act and debarred them to involve in the management of company affairs for 20 years and 10 years.Further, these erstwhile directors were directed to pay compensation of more than A $7 million and also Court imposed pecuniary penalties in each case. Further ASIC is contemplating actions in more than 200 cases most of which mainly concerned with issues relating to failed governance. Further, more than 69 persons were imprisoned for committing white collar crimes from 1999 to 2002. ASIC tries to enforce the corporate codes by compelling to make disclosures, the operation of exchanges (where listing arrangement also requires corporate governance compliances), the directives on audit and licensing of intermediaries. Comparison of Corporate Governance between USA and Australia. In the post-Enron era, the main difference is the USA’s perspective rule based approach and Australia’s more flexible principle-centered approach. Moreover, in Australia, there are array of menu of regulatory and other official standards for business. These includes Australian Corporation Act, regulatory guidelines such as ASX corporate governance council’s best practice ‘suggestions on corporate governance , regulatory ruling like ATO rulings ,regulatory guidelines like ASTC policy statements and practice notes, official standard-setting and judicial pronouncements. [i] Most of SOX provisions are identical to Australian laws and regulations such as CLERP 9 and the ASX corporate governance guidelines. Australia’s corporate governance guidelines are designed mainly for the Australian companies and its stock market and it is user-friendly. ASX corporate governance guidelines and CLERP 9 contains certain SOX governance conditions. It is to be noted that thought there is no 100% identical nature but its intent and objectives are more or less identical. There is a marked difference in approach between USA[4] and Australia towards corporate governance as the former is adopting ‘rule-based’ where as the latter is adopting ‘principle-based’ approach. Australian corporate governance is of suggestive in nature whereas USA is following prescriptive nature to governance matters. Thus the suggestive nature provides an in-built elasticity to retort and adjust to local industry and market forces and too industry ‘best practices’. Though the objective of some US and Australian governance is identical, the expressions applied are different thereby making strict compliance more complex. Further, relationships between Australian companies and their external auditors may be viewed by the SEC of USA as a violation of US auditor independence standards and may result in major penalties regardless the fact it complies with the Australian governance standards. This is to be considered if an Australian company is listed in the US. In the case of auditor independence, Australian â€Å"general independence ‘code is somewhat relaxed than the comprehensive list of specific preclusions under SOX. In US, in addition to annual and quarterly financial reports, a listed company has to file periodic reports on material ‘off-balance sheet ‘transactions. Further, it requires personal certification by the CEO or CFO that reports do not include any untrue statements or material omissions and reporting of changes of ownership status.    Under ASX listing rules and Corporations Act of Australia, a listed company has to file continuous disclosures to instill confidence for investors and facilitate them to have timely access to price sensitive information which have an effect on corporate’s securities. Australian governance codes specify lesser specific responsibility on periodic reporting. Where as under SOX, periodic disclosure is easy to implement as it specifies what are to be to reported every financial quarter and not contemplating to report what is materially price-sensitive which has to be disclosed on continuously under ASX codes. Under US governance codes, stringent and rigid set of prohibitions are placed on external auditors and audit functions which is in line with the US ‘rules based approach’. In contrast, CLERP 9 requires Australian public companies and their external auditors to exhaustive codes concerning auditor independence and fortifies existing auditor independence requirements through a recently introduced set of codes on auditor independence, periodic rotation of audit partners, placing restrictions on employment relations between the client and the auditor and imposing mandatory cooling off period before members of an audit firm can become a officer or director of the client. The main difference lies between Australian ‘general independence test’ which is somewhat liberal than the specific preclusions under SOX. Under SOX, CEO or CFO has to certify that they have reviewed the relevant financial report and it is not misleading or contain untrue information’s and there exists enough internal controls. In Australia, CLERP 9 mandates that CFO or CEO should provide a written certification on financial statements which is to be addressed to Board of Directors and not to the market itself. Thus the Board of directors assumes definitive authority by way of director’s declaration made in accordance with the board’s resolutions as a part of corporates annual financial report. ROLE OF DIRECTORS IN CORPORATE GOVERNANCE IN AUSTRALIA: In one of the study conducted by the Australian Council of Super investors reveals that about 61% of Non-executive directors appointed in 2005 in S&P / ASX 100 companies were found to be holding directorships with S&P / ASX 100 companies already in Australia .This shows that holding directorship in S&P / ASX 100 companies is the pre-qualification to act as NED in Australian companies. Study also reveals that there is steady increase in the appointment of NED in Australian companies. About 62% of female directors of ASX listed companies found to be holding more than one board as compared to an average of 41% for males. Remuneration package for the NED services is on the increase and about on average received about $ 154,170 in remuneration for director’s service in Australia. Court decisions in Australia have detailed and explained what is required of a director. A director should have a fundamental objectives of the business in which the company is involved. A director should be aware of the recent happenings in the company and hence it becomes compulsory on the part of the director to attend the board meeting regularly. Directors should develop a familiarity with the financial status of the company and frequently review its financial reports. A director may be appointed as whole time director due to his expertise knowledge and in such events, he has the duty to evince attention to the company’s affairs that might rationally be estimated to attract inquiry. A study conducted by UTS centre for corporate governance in Australia in June 2006 reveals that all the participating Australian companies in the study had included short biographies of their directors in their annual report as demanded by the Australian Corporations Act, 2001. The average size of the Board is 8 with minimum of 4 and the maximum of 14. Majority of board were comprises of independent, non-executive directors and almost only one executive director in the Board. The ASX study of corporate governance practice disclosure in 2005 revealed that about 47% of companies had not complied with inclusion of independent directors in the Board. As per ASIC report issued during October, 2006, it will check the company’s ASX announcements in case if the company has a market cap of less $500m and if it is engaged in the mining, biotech or energy sectors. Further, ASIC is seriously considering its role to make sure that ASX announcements are accurate and timely. As result of this, the director’s responsibility towards corporate governance has become more accountable. While the ASIC’s authority to impose fines for breaches in the continuous disclosures is more relevant in forcing the corporations to adhere the governance standards, it is also toothed with other regulatory measures as per details given below: ASX has recently requested that Cudeco to clarify its explorations results. A suit was initiated against Jubilee Mining NL for $1.8m by one of its shareholders for late disclosure. The federal Court imposed on Chemeq Ltd a $500,000 penalty plus cost for having botched to disclose the increase in cost of construction in its manufacturing facility and the lack of commercial significance of the grant of a US patent. In the case of ASIC v. HIH Insurance Ltd, Supreme Court of New South Wales found that there was violation by the directors and breach of duty under the corporations Act. Rodney Adler was found to breach his duty as director under section 180,181, 182, and 183 of the Australian Corporation Act and Dominic Fodera was found to be breached the section 180.   Further the Court held that payment of $ 10 million to a related party violated the related party provisions as well as the Australian Corporation Act, 2001 dealing with the extending financial help in the purchase of its parent’s shares. CONCLUSIONS: Australian governance laws and regulations are not prescriptive in nature and instead they recognize that diverse governance structures coincide better for different entities.   Since US have introduced tougher corporate governance codes, the Australia may follow the suit in very near future. In Australia, disclosure is required both periodic and on continuous basis. For instance, all listed companies to disclose well in advance the price sensitive information to the market operator who will then make it available to market participants. However there is lack of severe penalties in case of breaches for disclosure. Thus taking advantage to this loophole, most of the corporates want to avail this as a justification to shun disclosures. The Australian corporations should cope with the international developments on corporate governance. The board should be made aware what is being happening in the overseas. Some argue that the corporate governance is nothing but a cultural issue and in achieving the governance, one has to battle with human nature every day. To obviate these breaches, it is recommended that ASIC should be toothed with more powers to levy administrative fines.   This would definitely augment suppleness, cost-effectiveness and appropriateness of remedies. This will also strengthen the integrity of the law by offering an impartial remedy for conduct that is otherwise absent. It is reported that present disclosure obligations under listing rules is of ambiguous in nature mainly pertaining to the continuous disclosure obligations.   It is necessary to redraft the listing rules to explain the existing exclusions, transforming the balance in favor of disclosures in all but under short circumstances. With the template reviews advocated by the 2003 Uhrig Report which is well under consideration, it is necessary to pause and hold in mind that governance is a means to an end. Proper implementation of governance will contribute to social and economic welfare through efficiency, ethical behavior and competitiveness. It maximizes the profit in the private sector and it monitors the expenditure of pubic monies in public sector. It has become also need of the hour to reintroduce the obligation on the part of a company to respond market rumors in specific situations.   One has to take into cognizance non-accountability of press who publish false rumors thereby triggering movement of share price in the market which creates a not informed and uninformed market. Thus it has become corporates onus to intervene and to augment the market’s state of knowledge. Thus the Corporate governance is the tool to redress the conflicts of interest between various ‘role players’ in the industry and encourages them to share more responsibilities to adhere corporate accountability. [1] http://www.iccwbo.org/corporate-governance/id3615/index.html [2] Awards for best investor relations by Australian companies , JCN Newswires , Septemeber,19,2005. [3] http://www.asic.gov.au/asic/ASIC.NSF/byid/B285C74C43B87CBBCA256FDC00818039?opendocument [4] Dale, Luke, â€Å"Australian Companies and Sarbanes-Oxley: Governance regulations in a parallel universe, Publication, Keeping Good Companies. [i] Dale, Luke, â€Å"Australian Companies and Sarbanes-Oxley: Governance regulations in a parallel universe, Publication, Keeping Good Companies. Brada, Josef C., and Inderjit Singh. 1999. Corporate Governance in Central Eastern Europe: Case Studies of Firms in Transition. Edited by Josef C. Brada, Saul Estrin, Josef C. Brada, Alan Gelb, Inderjit Singh, Josef C. Brada, Inderjit Singh, Saul Estrin, Xavier Richet, Josef C. Brada, and Inderjit Singh. Armonk, NY: M. E. Sharpe. Francis, Ronald D. 2000. Ethics and Corporate Governance: An Australian Handbook. Sydney, N.S.W.: University of New South Wales Press. Hollingsworth, Kathryn, and Fidelma White. 1999. Audit, Accountability, and Government. Oxford: Clarendon Press. Power, Michael. 1997. The Audit Society: Rituals of Verification. Oxford: Oxford University Press. Sherman, Hugh, and Rajeswararao Chaganti. 1998. Corporate Governance and the Timeliness of Change: Reorientation in 100 American Firms. Westport, CT: Quorum Books. Stapledon, G. P. 1996. Institutional Shareholders and Corporate Governance. Oxford: Clarendon Press.    Strathern, Marilyn, ed. 2000. Audit Cultures: Anthropological Studies in Accountability, Ethics, and the Academy. London:    Bryan, Dick. 2000. The Rush to Regulate: The Shift in Australia from the Rule of Markets to the Rule of Capital. Australian Journal of Social Issues 35, no. 4: 333.    Business Focus; the Imperatives of Developing an Enterprise-Wide Risk Management and Governance Framework. 2004. Manila Bulletin, 21 June, NA.    Cheverton, Jeff. 2005. Past Their Peak? Governance and the Future of Peak Bodies in Australia. Australian Journal of Social Issues 40, no. 3: 427+.    Des Horts, Charles-Henri Besseyre. 2002. Governance, Knowledge Creation, and Organizing: An Afterthought. Human Resource Planning 25, no. 4: 48+.       Fort, Timothy L., and Cindy A. Schipani. 2003. Adapting Corporate Governance for Sustainable Peace. Vanderbilt Journal of Transnational Law 36, no. 2: 377+.    Gourevitch, Peter A. 2003. Political Determinants of Corporate Governance: Political Context, Corporate Impact. Yale Law Journal 112, no. 7: 1829+.    Kay, John, and Aubrey Silberston. 1995. Corporate Governance. National Institute Economic Review.    Marks, Robert E. 2002. Corporate Governance, or Where Does Ownership Lie? Australian Journal of Management 27, no. 2: i+.    Paredes, Troy A. 2004. A Systems Approach to Corporate Governance Reform: Why Importing U.S. Corporate Law Isn’t the Answer. William and Mary Law Review 45, no. 3: 1055+.    Vancea, Minodora D. 2003. Exporting U.S. Corporate Governance Standards through the Sarbanes-Oxley Act: Unilateralism or Cooperation? Duke Law Journal 53, no. 2: 833+.

Causes And Influences Of The Great Depression - 1782 Words

The Great Depression is a period synonymous with excruciating poverty and darkness worldwide. It can be said that an undeniable impact was felt upon all of the world’s nations - although it can also be said that not all countries were affected negatively. At the time, the majority of the powers of the world were - for the most part - all very much entwined both politically and economically. Thus, the research from this point on will cover not only what caused the depression, but how it impacted each of the major powers of the Asia-Pacific, those being; the United States, China, Japan, and Russia (the former USSR). An in depth analysis of the Great Depression reveals that the United States suffered huge losses, while China, Japan, and the Soviet Union were relatively unaffected. Cause of Great Depression: Let’s begin by exploring the major causes and influences of the great depression. The most common belief held by many is that the great depression was triggered by the crash of the stock market in 1929, however while human nature requests that things fall into simplistic narrative (Ie. stocks crash, therefore economy follows suit) there is in reality no simple, concise answer to what caused the great depression. In the case of the stock market crash, it is simply a case of correlation not equaling causation. Just because the depression occurred soon after the stock market crash, does not mean it caused it. The roaring twenties was a fantastic time full of large scaleShow MoreRelatedMajor Depression And Its Effects On Social Involvement1565 Words   |  7 PagesMajor Depression Depression is one of the most common therapeutic topics. There are many effects that lead to major depression and thus require distinctive therapy methods. It is a mood disorder that is associated with the body, emotions and thoughts (Hoeksema and rector, 2011). In order for a person to be diagnosed with major depression, they must show at least 4 symptoms from any of the 4 categories; such as mood changes, cognitive changes, physical changes, and behavior changes; and must haveRead MoreDepression : Cause, Causes And Effects Of Depression1116 Words   |  5 Pagessweating and dizziness. Anxiety may cause physical exhaustion and general ill health. Effects of depression When someone is found in such a condition the primary effects observed are the various signs and symptoms caused by a particular situation, thought, physical state, emotions or actions which brought about the depression. The effects of depression are mostly observed in the physical state as the symptoms portrays on the person who is in a depressed state. Depression can result into condition whichRead MoreTeen Depression : Genetics Or Situational Cause Word Count1379 Words   |  6 PagesTeen Depression: Genetics or Situational Cause Word count:1225 Does genetics or a child’s environment and surroundings have a greater impact on causing teen depression? â€Å"Rates of depression and anxiety among teenagers have increased by 70 per cent in the past 25 years† (Bedell 1). Teen depression, whether caused by the situation the teen is in, (getting a bad a grade, family relationships, and how they were raised), or it being genetics getting passed down to the teen from parents, depression isRead MoreThe Great Depression Was One Of America Crucial Time For1025 Words   |  5 PagesThe Great Depression was one of America crucial time for unemployment’s, banks failed, and many family suffered in this era. Great Depression lasted 10 years from 1929 to 1939 it was the worst economic upset in the history of the industrialized world. 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These factors include emotional symptoms, cognitive symptoms, behavior symptoms, som atic symptoms, and impairment in social and occupational functioning. So, what is depression? Everybody experiences times in their life with feeling blue or sad. Depression, however is a medical condition to where the person feels a stronger sadness for a lot longer than normal. Depression can be mild, severe or chronicRead MoreSymptoms And Symptoms Of Depression1527 Words   |  7 PagesDepression is known as a mood disorder that almost 14.8 million American adults are diagnosed with. According to the National Institute of Mental Health, â€Å"it causes severe symptoms that affect how you feel, think, and handle daily activities, such as sleeping, eating, or working.† If someone has shown these symptoms for at least two weeks, they most likely are dealing with the dreaded depression. There are four different types of depression that include: persistent depressive disorder, perinatalRead MoreThe Great Depression Affects The Americans1333 Words   |  6 PagesThe Great Depression was one of the biggest events in the 1920s since it had huge effects both socially and economically.  Starting with the stock market crash, millions of investors were bankrupted and thousands of workers were unemployed. Over the next several years, not only did the consumer spending drop, the number of investment lowered as well. Until 1939, when the President Franklin D. Roosevelt established the Relief and reform measures which finally help the economy to restart. ThroughRead MoreI Feel Therefore I Am1065 Words   |  4 PagesI Feel Therefore I Am Have you ever met that one person that is never in a good mood? Always sleeping, never eating or just walks around like a zombie? Depression can alter multiple different aspects of your social, behavioral and professional life. 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Synthesis and Characterization of Pb(S, Se)Thin Films.

Studies on chemically deposited Pb(S,Se) thin films J. D. Chaudhari *, R.D. Chaudhari * *, Dr. R. H. Bari + Department of Physics, G. D. M. Arts, K. R. N. Commerce M. D. Science College, Jamner.Pin – 424 206 Abstract : Thin films of Pb(S,Se) [lead sulfoselenide] have been prepared on glass substrate at 50 °C by simple chemical bath deposition technique. The starting materials used for deposition were lead acetate, tri-sodium citrate, sodium sulphite and elemental selenium. Ammonium hydroxide solution was used to adjust pH of the bath. In order to obtain good quality thin films, time, deposition temperature and pH of the solution were optimized and they are found to be 1 hour, 50 °C and 10 respectively.†¦show more content†¦Tri-sodium citrate was used as complexing agent. Ammonium hydroxide solution was used to adjust pH of the reaction mixture. All the chemicals used were of AR grade. Good quality films obtained for optimized time, temperature of deposition and pH of solution of 1hour, 50o C and 10 respectivel y. The process involved the reaction of pb2+, S2- Se2- ions in deionised water solution. Elemental selenium (99.95%) was dissolved in an aqueous solution of sodium sulphite (pH 9) at 90o C to form a partial unstable Na2SeSO3 compound by reflux method. In order to obtain the films lead acetate was mixed with trisodium citrate. To this solution, mixture of thiourea and sodium selenosulphite was added. The grown film was washed several times with deionized water. The synthesized film was annealed in air at 350o C for 15 minutes. Structural characterization of the film was carried out with X-ray diffractometer system using CuKÃŽ ± radiation with wavelength 1.5418 Ao. The optical absorption study of the films was carried out using Hitachi U-2000 spectrophotometer. The electrical study of the films was carried out using four probe set up (model no.DFP-02) scientific equipment, Roorke. 3. Result: 3.1 Structural analysis Fig 1. XRD pattern of the sample Figure1 shows the diffractogram of the sample scanned in the range of 20-80o. The XRD pattern reveals that Pb(S,Se) film is polycrystalline in nature. The planesShow MoreRelatedSynthesis and Characterization of Pb(S, Se)Thin Films.1051 Words   |  5 PagesStudies on chemically deposited Pb(S,Se) thin films J. D. Chaudhari *, R.D. Chaudhari * *, Dr. R. H. Bari + Department of Physics, G. D. M. Arts, K. R. N. Commerce M. D. Science College, Jamner.Pin – 424 206 Abstract : Thin films of Pb(S,Se) [lead sulfoselenide] have been prepared on glass substrate at 50 °C by simple chemical bath deposition technique. The starting materials used for deposition were lead acetate, tri-sodium citrate, sodium sulphite and elemental selenium. Ammonium

The Help Literary Analysis Essay - 954 Words

â€Å"I could tell she dont understand why a colored woman cant raise no white-skin baby in Mississippi. It be a hard lonely life, not belonging here nor there.† Skeeter is having trouble understanding why Constantine gave her daughter Lulabelle up for adoption. Lulabelles father was black, but she inherits Constantines fathers light skin. As a result, she just wont fit into the closed-minded Jackson society. The Help shows us the inner workings of a segregated society against the backdrop of the growing US Civil Rights Movement in the 1960s. Although there is some variety in economic and social class, race is the number one determinant of a persons place in Stocketts Jackson, Mississippi. Race also determines who has access to†¦show more content†¦Though this work puts the women in grave danger, they ultimately feel its worth it to give voice to their experiences, to tell the truth – the good and bad parts of it. Oh, were gonna have some kids. [†¦] I mean, kids is the only thing worth living for. For the white women in the novel, being a successful married woman (read: successful woman) means be able to have children. The pressure of this almost destroys Celia Rae Foote, who has several miscarriages before she understands that her husband loves her for herself, whether she has babies or not. The Help looks at rules and norms governing gender in a Mississippi town in the early 1960s. White women are valued in society by their ability to produce children, who are then to be cared for by black women. Few jobs are available for women of both races. Black women are expected to be passive workhorses, and to sacrifice their own homes and family lives for those of their white employers. Through writing and storytelling, Skeeter, Aibileen, and Minny all dare to challenge the gender roles society sets up from them and receive greater fulfillment in the process. Their challenges are also steps towa rd an overall healthier community in many ways. â€Å"Problem is, much as I love the Lord, churchgoing man never do all that much for me. Kind a man I like aint the kind that stays around after he done spending all you money.† Aibileen has romantic dreams, but feelsShow MoreRelatedAnalysis Of The Road Not Taken By Robert Frost1409 Words   |  6 PagesThe analysis of â€Å"The Road Not Taken† by Robert Frost has been up for debate since the poem release in 1916. It is known to be one of the most frequently misinterpreted poems of all time, and even Robert Frost himself has said the poem is â€Å"tricky† to comprehend (The). When analyzing this poem many readers tend to focus only on the last lines of the poem and get caught in a trap of selective-interpretation. Quite a few people after reading Robert Frost’s poem firmly conclude that this poem is aboutRead MoreDescriptive Linguistics In Literary Studies By M. K. Halliday Summary1072 Words   |  5 PagesLinguistics in Literary Studies†, Hallida y (1970) explains that the categories and methods of descriptive linguistics are as much applicable in the analysis of literary texts as in the analysis of any other kind of textual materials. In this approach, he focuses the attention on the revelation and precise description of language features which might remain undiscovered because of inexact linguistic investigation. Halliday in his approach uses the term ‘application’ to refer to the study of literary textsRead MoreAnalysis Of The Poem My August Guest By Robert Frost Essay1378 Words   |  6 PagesPaper #1: Formalist Analysis The term â€Å"formalism† refers to a critical approach that analyzes, interprets, or evaluates the features of a text. These features include not only grammar and syntax but also literary devices such as meter, and metaphor. The formalist approach does not pay attention to a text s historical, biographical, or geographical context. A formal analysis, is the formal analyzation of a text. This paper will delve into the formal analysis of two distinct poems, written by differentRead MoreAnalysis Of Hamlet And An Argumentative Essay892 Words   |  4 PagesEnglish 112 involved writing a large variety of literary pieces focusing on multiple components of writing. I wrote a multigenre on tattoos, literary analysis on Hamlet, and an argumentative essay as well as a summary and response essay on the need for higher education. From this wide array of papers I have learned and grown in my technical writing skills that will contribute in my pursuits of college level classes. I will address each of my papers and what I have learned from them. 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Wholefoods Market, Do They Practice What They Preach Free Essays

string(31) " and the need for improvement\." Whole Foods Market, Do they practice what they preach? Festus Acha, Jaesang Kim, Wanda Moss, Linda Pressley, Alioune Thiam The Johns Hopkins Carey Business School Management Organizational Behavior Professor Rick Milter March 22, 2010 Whole Foods Market, Do they practice what they preach? Abstract The purpose of this paper is to show a correlation between what is perceived about Whole Foods Market and what is factual about them. We intend to explore and investigate the following key points such as their mission statement, vision, their strategy for success, and empowerment techniques. We will look at how they motivate, compete with others, and the type of inspiration used as a whole to promote cohesiveness throughout their business. We will write a custom essay sample on Wholefoods Market, Do They Practice What They Preach? or any similar topic only for you Order Now We want to feel out their communication techniques as well as the emotional intelligence of their employees. It will be an experience to observe their team leadership in action rather than by hearsay. Coaching and mentoring has to be an important function for such a global organization as well as the steps taken for decision making and problem solving. We have come to realize that change is inevitable in any business and we want to know what their plans for change are and how it will be dealt with. Lastly we take our information collectively and see just how Whole Foods holds up through our audit of their leadership. Our leadership audit of Whole Foods Market, Inc. (WFMI) was based on the following criteria: Mission Vision Statement (Core Values) Strategy for Success Empowering Employees Motivation Inspiration Competing without fear Communication Emotional Intelligence Team Leadership Effectiveness Coaching Mentoring Problem solving decision making Organizational Change Overall Management We graded them on a sliding scale of Excellence to Needs Improvement and based on the financial data and management of their competitors such as Kroger’s, Safeway, and Trader Joe’s their score was given based on overall performance in those areas. Their biggest competitor being Trader Joe’s being a privately held company it was difficult to obtain financial information to do an effective comparison. Whole Foods Market has a running history of being a family oriented company. It is also reported that upper management uses a hands off practice of allowing its employees complete autonomy in decision making regarding the operation of their stores. Based on primary information obtained through observations and interviews at multiple Whole Foods Markets throughout the Maryland area we are able to shed some validity to some of the theories currently circulating. We also have information that may show or allude to controversial information as well. During these interviews we talked with employees and the managers on duty. What we learned is what people say and what you see may not always be the same. Our secondary information was obtained through reports found through second party interviews, up to date journals and magazines such as Harvard Business Review. Vision Mission (Core Values) Whole Foods Market came into existence on September 12, 1980. Workers for Whole Foods Market experience this organization as a positive paternalistic organization. It is characterized by very high trust levels, complete autonomy and accompanied by very little uncertainty. Their vision statement speaks of their objectives and goals reaching beyond a food retailer. It highlights its customer satisfaction, healthy employee environment, profits, investments and stockholders always ending on a positive note. Their mission is to lead by example. Some of their core values are things such as: Ensuring they are selling the best quality all natural and or organic products available for resale. Making sure their customers are always satisfied Support team members Invest in the community and the environment Great relationships with our suppliers and business partners Whole Foods truly believes in creating wealth through profits and growth for the company and its employees. However, on March 17, 2010 one of our team members Wanda Moss visited the Whole Foods Market located at 1001 Fleet Street, Baltimore, Maryland 21202. Her visit revealed that workers were friendly, outgoing, and very accommodating as she sought out a particular herbal seasoning to use in a seafood casserole. Her curiosity and interest in their herbs and spices made G. Singh, an employee more relaxed as she divulged her interest in their company for a school project. Ms. Singh has been working for the company for a little over four years she revealed. When questioned about the mission of Whole Foods as it pertained to her store and she replied that they are very good to her and they act as family towards one another. The employee was asked one other question in regards to the company’s position on unionized labor and she replied no one that she knows in her store wants to be in a union and that they like things just fine. Wanda Moss said she felt a defensive spirit as â€Å"G† responded. Nonetheless Ms. Moss continued to check out with her items and thanked the young lady for her time. Whole Food Markets employees are very knowledgeable about the store and its practices almost as if one has to rehearse. We have surmised either these employees are well prepared for inquisitions or the vision or mission statement of Whole Foods is genuine being practiced. We rated them good in their ability to mirror their vision and mission statement. Strategy for Success Which leads us to what is their marketing strategy to remain successful and move forward? Information obtained from their website suggests that they rigorously will be vigilante assessing their current situations in all aspects of the business in which they operate and examine as to how they can stay the front runner. Part of that plan is to expand geographically in the future and give consideration to altering their product mix to attract more main stream customers. Since they are not really clear on their plan of execution for expansion and innovation in altering their current mix, we rated them average and the need for improvement. You read "Wholefoods Market, Do They Practice What They Preach?" in category "Food" Empowerment Their strategy will lead us to how they intend or are currently empowering their employees and low level managers to remain on the frontline for the business. What was learned is that their empowerment techniques equate to trust all day long. For instance the employees believe that with management placing an immeasurable amount of faith in them, a high value is placed upon them. That same value is transferred to the customers and other stakeholders that help them to remain profitable and a front runner in their field. Their CEO John Mackey is walking the talk by nurturing from the inside out to enhance the quality of benefits distributed in all of their stores. The empowerment of their employees and or team leaders is unique and inspiring so we rated them excellent in this category. Inspiration Whole Food Market was created by local business people who had the conviction that the natural food industry was ready for bigger stores. They decided to opt for the supermarket format that was hosted by only â€Å"half a dozen† stores providing natural food in the United States. In terms of nutrition, Whole Food Market claims to always look for the â€Å"highest quality, least processed, most flavorful and natural food possible†. They believe that their products are the purest within the US and that everything that you can pick up at the store will be healthy. The company also buys from local growers in order to support them and reduce their â€Å"carbon footprint†. That way, Whole Food Market is then really â€Å"committed to helping take care of the world around [them]† and the â€Å"support of organic farming and sustainable agriculture helps protect our planet†. The company also supports food banks and all sorts of micro lending operations in order to leave something positive to the community. Whole Food Market also believes that its employees make the company. They select them carefully, making sure that their values and the Whole Food market’s values are in sync. The company is trying to create a workplace where employees are pushed to improve and feel respected as well. Motivation Several factors have to be taken into account when assessing the origin of employees’ motivation. One important factor that motivates employees is that Whole Food Market support â€Å"advancement from within†. In other words, they promote their current employees to apply for the higher responsibilities positions. According to Whole Food Market, once an employee has gained valuable knowledge, he may qualify to apply for any available opportunity in the Whole Food stores and facilities. Whole food makes a point to post all the openings for positions â€Å"at team leader level or higher† only in their internal job site. It prevents outsider to access high level responsibilities positions as well as it promotes current employee to expand their product knowledge, develop their skills, enhance their value to the team, and advance inside the company. Another important factor that keeps the employees motivated is the benefit packages provided to them. Fortune Magazine recognized Whole Food Market to be one of the â€Å"100 best companies to work for during the last 13 years†. In 2009, Whole Food Market was part of the only 15 companies that would provide 100% coverage on their employees’ health insurance premiums. Their benefit packages include â€Å"health insurance, paid time off, retirement savings and generous store discounts. The company also claims to be unique in the way it allocates benefit packages. Indeed, since every team member is important to the companies, they all get a voice when it comes to the content of their benefit packages. Team members will vote every three years to determine the content of the benefit packages offered by the company. This system results in different benefit packages according to the country or region employees are working in. The Paid- Time –Off policy, for example, is different depending on where the employee is working. For US employees, the paid time off depends on whether the employee is working full-time or part-time. In Canada paid-time-off depends on the time spent within the company in years, and In the UK, every single employee gets 7 days and the possibility to add an extra day. The last factor (but not least) that we discovered to be pushing employees is the learning experience and the experience itself. Alioune Thiam, one of our team members interviewed a couple of employees at different positions. When they were asked the question † what motivates you† one of them spontaneously answered that the learning experience was her principal source of motivation when the other stated that he just love the company and what the company does for the environment. Competition Based on the multiple interviews held with the store managers, Whole Food Market does not consider other giants of the food industry as threatening competitors. They acknowledge that other stores also carry organic food but they are convinced that the high quality standard set is not rivaled. Employees also mentioned shopping at Whole Food Market as an experience where the customer and the team members are educated. They emphasized a lot about the learning experience that makes them unique and out of reach for other grocery stores. However, according to Hoovers, a business analysis company, Whole Food Market still has dangerous competitors. A business analysis of the Whole Food market shows us that The Kroger is the most important competitors to Whole Food Market closely followed by Safeway and Trader Jo’s. Even though these stores do not provide only natural, organic, healthy food, they do offer a wide variety of food ranging from organic/natural to less healthy and more commonly found nutrition. Communication Communication is essential in any organization and it would appear that Whole Foods has communication as one of its top priorities. There is great communication among team members as well as the different teams in each store. I visited the Whole Foods store in Mt. Washington and spoke with Joe Young, Associate Customer Service Team Leader regarding how communication. Mr. Young stated that the employees feel that the communication is very transparent, from team leadership to team members. Any communication from the corporate office in Texas is given to the regional offices. Information is then given to the stores and is disseminated to the team leaders who, in turn, give it to the team members. I asked about feedback from customers. Mr. Young stated that feedback from customers is encouraged. Whenever feedback is received from a customer, it is given to the team leader for whichever section it concerns. The question along with the answer is posted on a bulletin board for customers to see. This feedback response is usually given within a week. However, some of the research that I have found indicates that team members are not allowed to say anything about working at Whole Foods on social websites, such as Facebook. According to some blogs, John Mackey uses pseudo names to become â€Å"friends† with some of his employees on Facebook to keep a tab on what is being said about the company. These employees face repercussions from posting on the website. Communication Grade – Good. There seems to be good multi-directional with team leaders and customers. However, employees should be able to express themselves constructively through social websites and not feel they will be penalized. Emotional Intelligence Emotional intelligence is defined as an ability to recognize the meanings of emotion and their relationships and to reason and problem-solve on the basis of them. The employees I interview seemed to really enjoy working for Whole Foods. According to Fortune 500 Magazine, Whole Foods is listed as one of the best places to work and has been for the past 10 years. When I visited the Mt. Washington store, the atmosphere had a relaxed feel. People seemed to enjoy shopping there and the employees were attuned to the customer needs. While I was speaking with Mr. Young, he greeted several customers by name. Mr. Young pointed out the core values of Whole Foods which are listed on huge individual placards in the store. The quality standards were also listed individually on placards. As I stood in line to purchase my items, the cashiers had a great attitude. They also knew customers by name, commented on their purchases – one cashier spoke about the dinner and dessert from purchases of a customer. I also interview a long-time customer of the store. She stated she could not find anything to say negatively. She recently moved for New Orleans and shopped at those stores as well as the store at Mt. Washington, Maryland. She felt the employees enjoyed working at Whole Foods and would stop whatever they were doing to help customers, even if it meant walking over the whole store to help them find products. She felt that the service and atmosphere of Whole Foods makes customers feel good about what they are buying there. In her opinion, the team members take pride in the products that they sell. Emotional Intelligence Grade – Excellent Team Leadership Effectiveness In the textbook The Future of Management, author Gary Hamel describe the type of management of Whole Foods. Each store is considered a team and inside the each store, there are departmental teams. According to my research, this concept seems to work. Leadership decisions are made from the bottom up instead of from the top down, which is the industry norm. Each departmental team has team leaders. It is very intriguing the way team leadership is chosen. The leader of each team is interviewed by a panel. The panel includes Regional Vice Presidents, various Team Leaders either from the same store or another store in the region, as well as a cross of team members. Mr. Young also said there is no â€Å"seniority† when choosing a leader. Leaders are chosen by the panel if they exhibit the ability to lead a team and not by how many years they have been with the company. Mr. Young also stated that when decisions affecting their team members need to be made, all team members are allowed to vote on the changes. For example, when it comes time to choose health care, the team members all vote for their health benefits. Team Leadership Grade – Excellent Coaching Mentoring Decision Making The Whole Foods culture is built on decentralized teamwork. Decisions in Whole Foods are not made by upper management but each store has been empowered to make its decisions independent of the other. Critical decisions, such as whom to hire is made by those who will be directly impacted by the consequences of such decisions. Decision making in Whole Foods is made by teams. Each department and its team are responsible for all key operating decisions, including pricing, ordering, staffing, and in-store promotion. With regards to product selection, team leaders are given the authority to stock products they feel appeal to customers. Stores are encouraged to buy locally as long as the items meet the stringent standards of Whole Foods. With this empowerment given to teams comes accountability, which ensures that associates use their discretionary decision-making power in ways that drive the business forward. Part of Whole Foods’ strategy is to put decision right down to the front lines and hence teams make many important decisions. Problem Solving Teams maintain a culture in which open dialogue and debate is the norm. This is reinforced by openly addressing behavior that involves excessive criticism or cynicism. Not tolerating such behavior sends a strong signal to the team and sets behavior patterns. Team processes have a profound influence on team effectiveness. Effective processes ensure rigorous and optimal decision-making; generate buy-in from team members, balance the influence each member exerts on the group and minimize interpersonal conflicts while encourage constructive debate. Information and ideas of each team member is properly incorporated into the decision making process. Whole Foods has multiple processes built into its teams to achieve optimal team functioning. The tight linkage between business intelligence and decision-making authority at Whole Foods ensures that little problems do not have to compound into big problems before action is taken. Organizational Change Whole Foods Market started with a small single store. In 1978, twenty-five year old college dropout John Mackey and twenty-one year old Rene Lawson Hardy opened a small natural foods store, Safer Way, in Austin, in Texas. Two years later, John and Rene merged Safer Way with Clarksville Natural Grocery and then they opened the original Whole Foods market in 1800. Even though Whole foods Market focused on natural foods, it tried to change structure and management to improve its performance. In 1986, it was first time to purchase an existing store, when Whole foods bought the Bluebonnet Natural Foods Grocery in Dallas and converted it into a Whole Foods Market. After that, Whole Foods not only open new stores but also purchased their competitors in new regions. Through the expansion program, Whole Food Market reached out to potential customers. Whole Foods Markets launched a private label called Whole Foods. Whole Foods Market tried to find smaller manufacturers who produced quality organic products. The private label encouraged customers to return to Whole Foods Market. Its own Whole Foods brand became the first retailer to maintain a private label line featuring organic food products. In 1996, in order to resemble other Whole foods store, Whole Food Market started to transform the Mrs. Gooch’s stores and made them adopt the Whole Foods Market name. The change in name caused a 5 to 10 percent sales drop. After that, Whole Foods was more careful about changing the names of acquired stores. To improve productivity, Whole Foods established a centralized purchasing system. By the end of 1997, the system facilitated the company to track product movement and prices. In addition, Whole Foods made a low priced private label, 365. The 365 products were different from the Whole Foods products. The 365 products did not provide organic products, but they were priced about 20 percent cheaper. The 365 products attracted more customers who typically bought groceries. Moreover, Whole Foods Market has expanded into global market. In 2002, Whole Foods Market expanded into Canada and two year later it entered the United Kingdom. In 2010, Whole Foods employs 53,300people in more than 290 stores in the U. S. , Canada, and the UK. The tenth-largest food and drug store in the U. S. , Whole Foods ranks 324th on the Fortune 500 list, with annual sales of approximately $8 billion. Whole Foods Market has high standards and provides organic and quality foods. In 2003, Whole Foods Market was designated America’s first National Certified Organic Grocer. Three years earlier, Whole Foods was the first national food retailer to join the USDA advisory board to help increase the U. S. Organic Standards. In 2008, Whole Foods established stricter guidelines to reduce environmental impact and to require vendors to pass a third-party audit. Over the past decade, Whole Foods Market is increasing its reputation with organic, fair-trade, or locally produced food. Even though Whole Foods Market is a huge food store, it is going to change and to pursue what people need. Over the next decade, Whole Foods will offer more resources to emphasize healthful eating. If Whole Foods Market stops changing, it cannot survive in the food industry. Overall Management Whole Foods Market believes that customer experiences anticipate and predict its business outcomes. Whole Foods Market also knows employee performance has influence on customer experiences. Therefore, Whole Foods Market tries to satisfy its employees by offering adequate compensation program, safe and friendly work environment. These facts are able to motivate and guide employees to increase productivity and effectiveness. Whole Foods Market also makes employees feel like a part of the company. So every employee takes an important role to achieve its goals and their performances affect directly to the company’s outputs. Especially, Whole Foods Market is a workplace to respect for all individual team members and self-empowerment. At Whole Foods Market, there are five values to affect the employees’ performance outcomes. First, Whole Foods Market believes one of the most important jobs is talking to team members. Whole Foods Market knows what its team leaders say and do affect their team members. If team members cannot trust the leader, they also do not trust the mission of the company. Each leader represents their teams. Whole Foods Market knows communication is very important. So each leader attempts to share the mission and core values of Whole Foods Market. Also, Whole Foods Market emphasizes a self-directed team structure. It organizes Whole Foods store and company into a variety of teams. In small team organizational structure, every member is vital and important. The contributions of every member make the success of the team. Whole Foods think self-directed teams are the key work unit of the company. So Whole Food pays more attention to each team. To discuss issues, solve problems and appreciate each others’ contributions, each team meets regularly. Whole Foods Market insists empowerment enhances the effectiveness of teams. When each team is fully empowered to do their work and to fulfill the organization’s mission and values, empowered organizations have great advantage. Empowerment improves creativity and innovation. Whole Foods support individual team members. Next, Whole Foods Market attempts to optimize transparency to all team members because an important element of trust is transparency. Whole Foods Market allows every team member to access information that affects their jobs and annual individual compensation report. When a company decides to hide some information, the motivation is a lack of trust. Whole Foods is afraid that the information that would cause more harm than good if it was known. However, Whole Foods is willing to take the risk. Without transparency, Whole Foods cannot reach out to high level of organizational trust. Finally, Whole Foods is not able to create high trust organizations without love and care. We are more likely to look for love and friendship with our families and friends, but not from our work. If the leadership expresses love and care in their actions, then love and care will flourish in the organization. For example, everyone participates in the meeting and gives the opportunity to voluntarily appreciate other members in the group for services. Appreciating team members helps encourage every team member. They want to get involved in their teams and trust each member. As a result, in 2010, Whole Foods ranked 18th on Fortune’s list of the â€Å"100 Best Companies to Work For. Appendix Table of opportunities: Table of opportunities: Competitors list: Leadership Audit References Diamond, D. (2009, October 1). Perception Vs. Reality. Progressive Grocer, 88(7), 34. Hamstra, M. (2010, January 1). Mackey No Longer Chairman? Supermarket News, 58(1), 1-7. Hoovers Company Records, 10952. Dow Jones Financial Data on Whole Foods Market. Retrieved March 25, 2010, from http:/ /finance. yahoo. com/q? s=WFMI. Linda Pressley. Whole Foods Market. Mr. Joe Young, Associate Customer Service Team Leader, Whole Foods Store, Mt. Washington, Maryland. Interviewed on March 23, 2010 Ms. Fay Day, Whole Foods Customer. Interview March 24, 2010. Paskin, J. (2009, February 1). Growth slows, but mackey doesn’t [Keeping employees motivated]. 18, 2, 24-26. Pressley, L. Whole Foods Market Interview. Retrieved from www. discoveryhealth. com. Whole Foods Market. Retrieved from www. wholefoodsmarket. com. http://www. hoovers. com/company/Whole_Foods_Market_Inc/ http://www. hoovers. com/about/100000489-1. html www. marketwatch. com/ http://www. wikinvest. com/stock/Whole_Foods_Market_%28WFMI%29 How to cite Wholefoods Market, Do They Practice What They Preach?, Essays

Innovation and Entrepreneurship in 7-Eleven Company †Free Samples

Question: Discuss about the Innovation and Entrepreneurship in 7-Eleven Company. Answer: The assignment includes the management and business of the organization 7 eleven in contexts to innovation and entrepreneurship. The essay is a continuous discussion of the previous assignment. The organization 7 eleven shall use this technique to improve its position in the global market and enhance the business activities to achieve competence. With the aid of innovation and entrepreneurship techniques the organization can overcome the problem occurring in their franchisee. The report analyses the growth of 7 eleven with respect to the above-mentioned two tools. Also it evaluates the benefits of these practices in the organization. 7 eleven is an American-Japanese international chain of stores which provides food products and beverages such as Slurpee Beverages, big Gulp Beverage cup, candies etc. The Company is a subsidiary company of Seven-Eleven Japan Co. Ltd. Earlier the stores chain of 7 eleven was known as Tote'm Stores until it was renamed in the year 1946. 7 eleven was founded by Brandon H. Small, Joe C. Thompson Sr. Claude S. Dawley, John Jefferson, John Philp Thompson, Sr., Jere W. Thompson Sr., and Joe C. Thompson Jr., in the year 1927. Further the company has placed headquarter in Texas (7-Eleven, 2017). In the recent decade it has been noticed that the innovation tools is shaping path of success for many companies worldwide. Innovation refers to the technique of processing the same work with a different creative approach. Innovation and entrepreneurship are closely interconnected and competence to an organization if adapted together. The process of innovation depends upon the type of the organization and skills they want to enhance in the management of the organization. The foremost duty of an entrepreneur is to inculcate innovation in the management and adapt flexibly according to the business environment (Drucker, 2014). Entrepreneurship in relation to innovation is a notion which defines the capacity of an organization to manage risk and generate profit out of it. It refers to the innovative activities which a business shall implement to develop the organizational structure. This process includes activities which an entrepreneur shall perform by injecting creativity into their work. Entrepreneurship is also known as the process of starting a new business and availing all the opportunities provided to the company by identifying and measuring the risks. The concept of entrepreneurship is dynamic and involves a visionary approach to reach the target by eliminating all the management barriers and utilizing the resources optimally (Tidd Bessant, 2015). As stated earlier innovation and entrepreneurship are interconnected factors which affect the growth of a business. The innovation is a broader concept which includes entrepreneurship in its working. The entrepreneurs perform their activities in an organization with innovation so that they can achieve a competitive edge in the market. Some of the renowned entrepreneurs who created their brand image with innovation are Mark Zuckerberg owner of Facebook and Larry Page owner of Google Company. Innovation is the key action of entrepreneurship through which business active success now a day (Trimi, Berbegal-Mirabent, 2012). W.D Guth and A. Ginsberg invented the term in-trapreneurship which stated the birth of a new enterprise within existing business. This states that the formation of a new internal business structure with respect to innovative ideas and techniques. In today's world innovation is the need of every enterprise to become successful and resolve the barriers without disturbing the business activity. An organization can achieve success if innovation and entrepreneurship work together efficiently. Further, an organization shall implement the innovation and entrepreneurship tools considering the factors such as strategic vision and mission, statement creative management program, efficient internal communication, adapting technology, waste management, optimizing resources and leadership. The technique shall be followed considering the above-mentioned aspects. Strategic mission shall be prepared and it shall be creatively implemented in organization (Audretsch, Falck, Heblich, 2011). Innovation is a tool required by every business in order to precede effectiveness in their organization. In earlier times, business with traditional management techniques used to work efficiently due to lack of competition technology in the market. But with the change in time, business tactics are becoming innovative, thus to succeed in the industry a company require to implement innovation and entrepreneurship in their practices. The 7 eleven company is the demand of its customers due to its taste and quality of product. This helps the company gain the competitive in the market. Further 7 eleven shall use these tools to create a definite innovation and entrepreneurship framework in the organization structure (Onetti, et. al., 2012). Entrepreneurship in narrow concept refers to creating new idea and implementing it in the organization. So it can be seen that sole entrepreneurship cannot work well to establish and enhance the activities of 7 eleven. Thus the company shall define a set of framework to manage the activities of the organization. In order to execute the framework the management of 7 eleven shall analyze the internal factor causing barrier in the growth of the organization. In relation to it, new innovative techniques shall be defined by the management so that barriers are removed and 7 eleven improves its managerial skills as well. The implementing innovation in an organization, there are three basic components which shall be looked after, that are, infrastructure, capital and entrepreneurial capacity (Ar?kan, Engino?lu, 2016). In context to innovation, the entrepreneurial practices shall be followed. After determining the techniques, the company shall make sure that such innovation is the demand of organization and its customers. Further for persuading innovation technological changes shall be implemented in the managerial process. It has been noticed that 7 eleven is facing problem in managing franchisee of the organization. Thus, to remove the barrier the company can implement innovative techniques to retain the customers and drive them to reach the organizational objective (Malagueo, Bisbe, 2010). Innovation can only be implemented if entrepreneurship practices are strong, so the entrepreneur shall define new goal for the organization considering the objective of company as well as employees and lead them to achieve their respective target. Also, the entrepreneur shall maintain good communication so that problems can be easily overcome through discussion. Future to resolve the problem efficiently, the entrepreneur shall manage all the innovative activities under their surveillance so that the employee shall not get distracted from their goals. Thus in this way the company 7 eleven shall achieve organizational innovation through entrepreneurship process (Berglund, Gaddefors, 2010). Also, the company shall not get confused with innovation and disruptive innovation. Disruptive innovation is a form of innovation technique which creates new product and in the new product market. As it is seen that the company already enjoys a brand image in the market and do not need further changes in the product or market. Thus, 7 elven shall make sure that they implement innovative techniques in the existing product only (Kohles, Bligh, Carsten, 2013). Hence, in the limelight of above events, it shall be concluded that the company 7 eleven is facing the issue in managing the franchise. So in order to change the condition and create efficiency in the organization, the management of the company shall implement the innovative techniques strategically. The company shall try to focus on innovation through entrepreneurship and not involve in disruptive innovation. References 7-Eleven, (2017). 7?Eleven Profile.Viewed on September 3, 2017 from https://sites.7-eleven.com/corp-BAK/7-eleven-profile Ar?kan, C. L., Engino?lu, D. (2016). Kurum ?i Giri?imcilik Nas?l Geli?tirilebilir? Bir Model nerisi.TISK Academy/TISK Akademi,11(21). Audretsch, D. B., Falck, O., Heblich, S. (Eds.). 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