Monday, January 20, 2020
Black Death :: essays research papers
                                                            Page 1          In the later part of the middle ages, an epidemic was unleashed upon society. Killing almost half of the population, the black death not only changed, or ended the lives of everybody in its path, it also left a dark cloud lingering over humanity for decades after. At a time when the population of Europe was at an all time high, food was scarce. The people of Europe were not prepared to fight this terrifying new disease that couldn’t even begin to understand.      This catastrophe did more then kill, it changed the structure of life in the middle ages, both the church and state were effected. Surprisingly the public officials treated this as a disease, not as the wrath of a vengeful god on a society of sinners. Although for the people who were dying, or who were seeing their families and neighbors killed, their judgment day had arrived. It would be difficult to keep your faith at a time of great tragedy, if god wasn’t doing this to them, then why was he letting it happen? Religion usually stabilizes a society and brings the people together, but in this case, the faith of the people was among the list of casualties. God had always served as a beacon of hope in uncertain times, and made the people feel safe and cared after. But at a time when entire families and towns are being wiped out, rich and poor alike, faith in god was dieing as fast as the people were.      When kings and nobles started to perish at the hands of this monster, it really painted a dark picture for the rest of society, it proved that nobody was safe. The rich already had more food and better health to start with, which made them somewhat more resistant to the plague, but in the end even they could not escape death. The cities were abandoned rapidly by those who could leave. No amount of power or wealth could save them from their grim fates. When priests and popes began dying, faith was no longer enough.      The plague was accompanied by chaos and panic. People could not understand for what                                                             Page 2 they were being punished. Most took precautions and hoped for the best. Some accepted that there was nothing they could do about it and felt that they had to live like everyday was their last.
Sunday, January 12, 2020
“Higher Learning” Reaction Paper
The film â€Å"Higher Learning†portrays the many prejudices and race issues that existed in America around 1995, when the movie premiered. The movie takes place at Columbus University, which serves as a fictional university undergoing the transition of America being a more diverse, free nation. From the time when America began its struggle with race and culture boundaries, people of the United States have shown their true beliefs towards other people who may look differently than they do; and the movie â€Å"Higher Learning†is a good example of the type of prejudices. Before the movie even starts, the title of the movie already promotes a message that lies in the title, â€Å"Higher Learning. †The title may suggest that, not only are students attending a university to gain more knowledge needed for the career they choose to pursue, but rather, obtain greater knowledge about life and living freely amongst one another without having race or culture boundaries. Students that are entering college are about to embark on a journey that will prepare them for real life adulthood. The title â€Å"Higher Learning†implies that being enrolled in college is not only for your academic development but also your social evolution. At the current time in the movie, when there were many race and culture boundaries that created conflict between people of different backgrounds; students, especially minorities, were being tested for real life situations by entering college. The way Singleton implements group of students of the same background around campus symbolizes the cultural divide between many different ethnic groups. The racial-ethnic groups that were all the minorities on campus were always seen together and rarely separated. Throughout the movie, many groups of students from different ethnic backgrounds often experienced altercations with each other. Two of the main groups that clashed throughout the movie were the African American students; some of whom involved themselves in the Black Panther organization, and the white supremacist group who recruited Remy from the university. Throughout the film we notice the extreme change of two students, Malik and Remy. Malik who is a gifted track athlete, attending the school on a cholarship, is a African American freshman whose views of different race and cultures are mature, whereas his attitude towards himself being a black track star are immature. We do not see him stereotype other students in the very beginning of the movie; however, we do notice that other students who were not African American acted differently toward Malik and they showed fear an d also hatred towards him. One person who builds hatred toward Malik is Remy. Remy is a white freshman student who is enrolled in the university and is not involved in anything. Remy is placed with an African American roommate and in the beginning of the movie. Remy quickly develops hatred towards the perceived ignorance of his roommates and his friends. Remy then distances himself from his own room and falls into the arms of a group of white supremacist who would like to have him join the group. Shortly, Remy is brainwashed into the group’s ideology that the group of white males promotes. The group of white supremacist displays their ethnocentrism of white people. Malik and Remy are caught in altercations throughout the movie, in which Singleton uses to cause rising action towards a climax that ultimately causes the belief that students have to change. Also, Malik, being involved in these situations, develops some frustration towards the beliefs and acts of Remy and the white supremacist. I believe that Singleton uses these rising actions as a symbol of the way that our environment can influence us and can sway our thoughts on issues. For example, Remy is vulnerable when he becomes an outcast after been known for saying things out of the ordinary. However, he is approached by skinheads that mold him into their group beliefs and values. At first Remy is uncertain when he witnesses his new friends beating up people on Halloween but he is reassured by Scott, who is the noticeable leader of the group, that what they are doing is good and making society cleaner. From there on Remy grows into a skinhead himself that has determination to get rid of the minorities. Malik also undergoes a similar change, where he develops into an individual who shows hate towards white people. Malik also begins to stereotype and he exemplifies this when we notice him dodging his close friend who is his roommate and even tells him that they can’t be seen together. Singleton’s also portrays the different cultures that each group shares. As a group, members enjoy practicing their culture and enjoying the freedom that they have to follow through with their practices. For example, the African American students enjoy listening to their rap, hip-hop, and R & B, and when they play their music in front of people from a different background, more importantly, the white skinheads; they scold the African American students and seek to get rid of them. I believe that Singleton uses this act of other cultures displaying their values to symbolize that America is a free nation where everyone is free to their own beliefs and values; however, many prejudices exist and many people have trouble accepting a more diverse society. Over time, America has come a long way from when segregation of minorities was protested. Being a minority is more accepted in today’s society. Also, even in younger generations, I am beginning to notice that, now, we do not see the color of a persons skin at first. Stereotypes still exist, and it seems almost common nature for one to stereotype a person, but in today’s society, these concepts are more thought about and held back in respect for one another. As a college student, I do not walk around campus and see only groups that consist of only one type of race. When I see groups of people, many of them are more diverse than ever. You can still notice that many of the different races still cling together almost by instinct, however even sometimes these groups interact with each other and are more socially accepting of one another. The racial divide no longer seems to exist as much as it did from the movie. There still are some people out there that still practice ethnocentrism; however, in today’s society, these people are now mostly looked down upon and can be considered a minority group. The race and culture barriers that once caused so much devastating acts of violence and treatment against people of a different background no longer litter the streets of everyday activity. The few people that still have negative beliefs of people of a different race are now sunken into the background of society. Many of the negative words are now kept inside and are often kept unsaid. These words often remain unsaid mainly because in today’s society people who promote prejudices against different races are more than often looked down upon. In addition, certain words now have different meanings, some completely opposite of what they meant in 1995. The way people communicate with people of a different race has changed greatly. There may be preconceived stereotypes that people still carry with them due, mainly in part, to the environment one grew up in. However, people have learned to respect one another and issues with communicating with people of a different race have become more at ease, rather than being hostile. In some ways, however, there are some similarities that exist between the time frame of the movie, and present-day. People in today’s society still stereotype one another. The stereotypical thought is often the first thought that comes across our mind when we see a person of a different race. Over time, though, stereotypes have been slowly diminishing in society. Some other similarities are the groups of people. Although the way that students group with each other is not based so much on race anymore; larger organizations still exist in today’s society. One example of an organization is the Ku Klux Klan. Also known as the KKK, the Ku Klux Klan is a group that consists of only people from the white race. Their main purpose is to reinforce their belief that the white race is more superior to any other races. Other groups also exist in today’s society that practice the values that they believe. However, these groups are not so much outgoing anymore and the acts of violence that the groups committed in the past are rarely seen in present day. There were many points throughout the movie where a scene occurred that caused viewers the realize something. For example, in the scene where Malik is in a conversation with Fudge, Fudge explains to Malik that all the students of the same race only interact with each other and are rarely seen with students of a different race. After Malik is told this, at that point in the scene, Malik’s face turns stern and the music becomes more dramatic. I believe it is at that time where Malik realized the social barriers that existed on campus and also around the world. Another scene that came to be very important to me is when Remy is seen in the first step of him becoming part of the white supremacist group. In the scene Remy is seen studying outside on some stairs shortly after leaving his room due to his African American roommates playing loud music. At the time Remy is vulnerable and is in need of company. The leader of the skinheads happens to approach Remy in this time of need and Remy is convinced into following Scott, the leader of the skinheads. These two scenes in the movie are two of the few scenes that stand out the most to me. These scenes stand out the most to me from other ones because these are two points in the movie where the way the two students perceive people of a different race begin to be altered by their environment. I believe that Singleton incorporated these scenes and the way the two characters develop in order to symbolize the change in society by whom we may encounter in life and how that can impact our beliefs. Another scene that I believe is significant is at the beginning of the movie when Malik enters an elevator after a white student, Kristen, is standing in the elevator about to go up. During this brief scene in the elevator, after Malik get in the elevator, Kristen clinches her purse more tightly and her facial expression shows fear for Malik. This scene shows that at the time of the movie how people reacted towards one another. It is also a brief time where you can notice that Malik only shakes his head when he sees how people react towards him. I enjoyed the movie very much. The movie pointed out the harsh reality of the way society was in 1995, especially on a diverse college campus. The move portrayed many acts of violence that may have occurred in real life and it helps to raise our attention and realize how ignorant people acted toward each other. After watching the movie I hope that people who discriminate against other races and cultures can change the way they think. The movie made me feel grateful, as well, for the people who went through this hard time in America and got through it in a righteous manner. After watching the movie, I became more aware of what the current time era presented to people. And that was ignorance, violence, prejudices, and discrimination towards people who looked differently than that of one’s self. I have much respect for the people who had to go through so much trouble just because they were different. I also enjoyed the movie because Singleton incorporated scenes that may seem out of the ordinary is today’s society, but is what really happened during the days of America segregating. The movie â€Å"Higher Learning†is directly related to our Sociology course, in that the film’s main them is racism, and other sociological issues that existed in 1995. In our sociology class, we learn about the reasons why humans interact with each other in the way that they do. In the movie â€Å"Higher Learning†many issues arise such as racism and discrimination, as well as, prejudices and barriers. In our sociology course, we learn about these issues and other sociological concepts so that we understand the way society interacts.
Saturday, January 4, 2020
The Great War Of The Twentieth Century And The...
During the turn of the twentieth century and the unsettlement of imperialism in Europe and the rest of the world, human kind was exceeding its potential extremely rapidly with the benefits of the Industrial Revolution. However, with change often comes instability. As the world was evolving at an extreme pace, many theories, weapons, philosophies, and political systems emerged. The world had discovered for itself an insatiable thirst for more. This is the philosophy that drove the early twentieth century. This nationalistic and competitive perspective was the reason for the worlds, precisely Europe’s, success. The super nations: France, Britain, Germany, Austria-Hungary and Russia, were developing at prodigious rates, each trying to obtain more than their rivals. This greedy desire and the forgetfulness of what war really meant sent all these powerful nations to collide in what is considered the â€Å"Great War.†This war, which lasted for four years instead of its int ended four months, marks a paradigm shift in the concept of warfare. Benefiting from the Industrial Revolution, this conflict was to shape the following century. Interestingly enough, this clash of super nations was expected to be â€Å"The War to End all Wars.†These nations believed that war was inevitable for the prosperity of Europe and the world. However, from a contemporary perspective, this is erroneous. The changing of warfare, the Treaty of Versailles and the reluctance of many nations, made it impossible forShow MoreRelated New Economic Imperialism Essay example4919 Words  | 20 PagesNew Economic Imperialism Those in power define national interests as the preservation of the existing set of economic, social, and political relationships. Therefore, the national interest of the supranational capitalist society is the interests of the upper class, allied throughout the globe. The United States capitalist class has proposed to preserve and extend U.S. capitalism by a policy of empire building to satisfy the need for large export markets that could supply cheap inputs
Thursday, December 26, 2019
The History and Evolution of Dogs Essay - 2359 Words
(word count includes Annotated Bibliography) Throughout the world there are many different countries that contain diverse cultures, religions, and life styles. There is however certain aspects within these countries and cultures that acts as a common ground between one another. One dominant aspect is the existence of dogs within these cultures. Dogs are common throughout the world, either as a domestic pet, a protector on a farm, or an assistant for hunting; amongst others. Regardless of the reason for having a dog most people have either owned one for themselves or has known somebody who has owned one at some point in their life. Despite the relative normality of having a dog in your life in one way or another, the reasons†¦show more content†¦Before a detailed description of how dogs evolved from wolves can be made, an understanding of the process of evolution must first be acquired. The evolutionary process means in basic terms that only the best survive. Animals and plants with better qualities have a better chance of survival; therefore the qualities that allowed them to survive can then be passed on to their offspring. Slowly this plant or animal begins to become different from its ancestors and eventually will become a different species entirely. This form of evolution is known as natural selection (Harris 3). This means that it is the plant or animals natural habitat that is in control of their survival. Another similar but notably different scenario can also take place. This is known as artificial selection. Artificial selection is similar to natural selection in the sense that only the best will live long enough or be able to have offspring and be able to pass on their personnel qualities. The difference is that instead of a natural environment being in control of this, it is instead humans who are in control. Humans pick which individual plant or animal they feel has favorable qualities and will only breed those particular individuals, so over time those qualities are passed on from ge neration to generation and eventually will become a new species much like the phenomenon that occurs in natural selectionShow MoreRelatedARTICLE2 Essay1036 Words  | 5 Pagesï » ¿ The Facts of Evolution 1. What is the point Shermer is trying to make in this article? Shermer’s point is that evolution is a historical science and it did in fact happen and there is a lot of evidence to support that it did. 2. What was Darwin’s contribution to our understanding of coral reefs? Our understanding of coral reefs is now that there aren’t different kinds of coral reefs but rather all coral reefs are in different stages of development. 3. Who was Darwin’s â€Å"one long argument†Read MoreThe Origins Of The Origin Of Mathematics1411 Words  | 6 PagesThe Origins of Mathematics The Origins When and where is the origins of mathematics? The origins of mathematics accompanied the evolution of social systems in many ways. The social development of any society requires some sort of calculation and number system. In the same way, the arithmetic operations are essential for the development and interaction between people. Words that describe numbers and operations that enable calculations are the basis for survival. The need to count how many animalsRead MoreCreation : God Vs. Nature1191 Words  | 5 Pagesboundaries between humans and nature by driving people to call into question one of the fundamental ideas of the divine creation myth as written in the Bible: that humans were created by God separately from animals. Darwin and Wallace s theory of evolution broke down this boundary between human exceptionalism and the rest of nature in the natural world by suggesting that humans arose the same way all the other animals did. Darwin and Wallace eroded the boundary between the separation in people fromRead MoreThe Natural History of the Galapagos Written by Ian Thornton1150 Words  | 5 PagesThe theory of evolution is a very interesting, but also a bit of a controversial topic. The Merriam Webster dictionary defines evolution as â€Å"a theory that the differences between modern plants and animals are because of changes that happened by a natural process over a very long time.†Even though many people would and have disagreed with this following statement, the theory of evolution as of now is the best the best way of explaining why people and the animals which are, are on earth today. Read MoreThe Fantastic Journey Of The Mathematics1481 Words  | 6 Pagesmathematics was closed related. Furthermore; it will shows the development as a magical journey which involved many thousands of years. The Origins When and where are the origins of mathematics? The origins of mathematics accompanied the evolution of social systems in many ways. The social development of any society requires some sort of calculation and the use of a number system. On the same way, the arithmetic operations are essential for the development and interaction between people. WordsRead MoreBill Nye : An American Science Educator1495 Words  | 6 Pageslearn. The public schools science books are using the same word science for observational and historical science. They define science as naturalism and outlaw the supernatural. Again, he thinks science has been hijacked by secularists in teaching evolution to force the religion of naturalism on generations of kids. Now Bill Nye started back to debate. He asked a question first,â€Å"Does Ken Ham’s Creation Model hold up? Is it viable?†He gave an example about Noah’s Ark. He said it was impossible thatRead MoreThe On The Other Hand, Parole, By De Saussure1070 Words  | 5 Pagesanother way to study language by diachronic reconstruction of its history. This required a full study of all cultural influences that change a language during its evolution and development through history. For example, if researchers investigate the evolution of word order in a sentence from old English to modern English, they would adopt a diachronic study. In contrast, a synchronic approach does not consider a language’s history, but everything else present at a particular time. Generally, theRead More Reflection of Cannibalistic Societies through Diary of a Madman And the Correlation to Todays Society1685 Words  | 7 Pagescannibalistic nature of humans corrupting them-selves over an d over again therefore feeding upon themselves. The analysis of Diary of a Madman gives way to a new interpretation of societies of the past, present, and future. Following the idea that history tends to repeat itself, I have paralleled the idea that society as a whole can be seen as cannibalistic not only in the reference by Lu Xun, but also in the current society we live in today. Only through willingness to change can societies transformRead MoreThe God And The Devil880 Words  | 4 PagesA constant thought throughout the history of philosophy, regardless of the philosopher’s school of thought, is the idea of opposition between forces. Every day must have its night, every ocean its land, every up its down, every hero its villain. Taking the last to an extreme brings the â€Å"constant battle between good and evil.†When this idea meets culture, we find the appearance of religion with its gods and demons. In American culture, one of the best known examples of t hese opposite forces withinRead MoreCreationism Vs. Creationism : Theories Based On Personal Beliefs, Religious Values, And Scientific Information951 Words  | 4 PagesThroughout history, there has never been a more debatable question than that of evolution versus creationism. Human evolution always tends to cause a heated dispute in modern society. â€Å"These conflicts between Evolution and Creationism occur when evolutionists argue that creationism is not a scientific theory because it cannot be tested by the scientific method (Sarfati Ph.D., n.d.).†Science requires a hypothesis or theory be testable and reinforced by physical evidence, but religion requires
Wednesday, December 18, 2019
The Daughter Of A Commandment By Alexander Pusking
In the novel, â€Å"The Daughter of a Commandment†by Alexander Pusking, social classes play an important role in Russia. The author demonstrates, that social class played an important part on political leaders and the society. Pyort through, his involvement in war through battling in the military and courage to overcome obstacles.Pusking emphasizes the leadership through overcoming political leaders. Pugachev demonstrated through his actions that this was a nostalgic era of Tsarist Russia and the struggle with establishing social classes and equality in the social classes. Around 1907 in the Russian Revolution, I believe the author wanted to show us circumstances conveying the social classed events that Russia had like how the army was beloved because they were conquering other countries. The upper class was viewed as more important and that was why Masha could save Pyotr. Catherine the Great s preferential treatment of the nobility is portrayed; also, she wanted to expand R ussia to become more powerful. At one point Pugachev got angry; he rebelled against the Russian army. While Catherine did the same thing to destroy them. He wanted to make a change on the country right. Pugavech wanted to overthrow against Catherine to change the political system in Russian. Masha was the daughter and noble that Catherine the Great listened to. â€Å"And if he did not vindicate himself before the judges, it is because he did not wish me to be mixed up in the affair. It was when
Tuesday, December 10, 2019
Marketing and Audience Research
Question: Discuss about theMarketing and Audience Research. Answer: Research Topic The aim of this study is to analyze the research objective, research question and the different research designs, which requires to be implemented to evaluate the marketing services of Uber. Uber is one of the largest transportation network companies operating around various countries all around the globe. They provide cab facilities to the customers through a mobile app, which allows the customers to book a cab with only one single click. The cab will then arrive at the customers doorstep making it easy travel for them. Research Objective The research objective of Uber is undertaken to find out the areas, which require prompt actions to improve the competitive edge of the company. The research objectives are as follows: To improve the financial status of the organization in Australia by implementing different innovative promotional and marketing strategies To assess the efficiency of the promotional and marketing strategies in the minds of the consumers and what effects they have on the consumer behavior To recommend various strategies to help improve the service quality of the company To analyze different methods to improve the customer feedback and improve customer satisfaction by providing efficient after sales service Research Question The questions, which requires to evaluated are as follows: How can the financial status of Uber in Australia develop through the introduction of various promotional and marketing strategies? How do the marketing and promotional strategies affect the consumer behavior? How can service quality of Uber improve by using different strategies? What strategies can be used to improve the after sales service and customer feedback about the company? Research Design In this study, APL will implement quantitative, qualitative and descriptive methodologies to collect information from both primary and secondary data sources. The primary data is collected by undertaking surveys through questionnaires to find out the customers reaction towards Uber and to find out how they feel about the business function Uber. This is known as the quantitative method. The managers of Uber and the drivers working under the organization are also interviewed to evaluate the internal functions of the organization and what steps are likely to increase and motivate the employees working in the organization (Livingstone 2013). This is the qualitative research design. The secondary data resources are obtained from the website of Uber and from various articles and journals who print different information and sales and financial figures about the functioning of the organization (Hair Jr and Lukas 2014). The descriptive method uses the combination of both the qualitative and the quantitative research method approach and uses this information to create visual aids like graphs and charts to help the researcher to understand the distribution of the distribution and how these information can be useful to improve the business decisions and functions. This method uses multiple variables for evaluation and the main purpose of the research are to explain, portray and validate the findings. Reference List Babin, B.J. and Zikmund, W.G., 2015.Essentials of marketing research. Nelson Education. Hair Jr, J.F. and Lukas, B., 2014.Marketing research. McGraw-Hill Education Australia. Jensen, K.B. ed., 2013.A handbook of media and communication research: Qualitative and quantitative methodologies. Routledge. Livingstone, S., 2013. The participation paradigm in audience research.The Communication Review,16(1-2), pp.21-30.
Tuesday, December 3, 2019
Nucor Competitive Strategy Essay Example
Nucor Competitive Strategy Paper NUCOR COMPETITIVE STRATEGY ANALYSIS CONTENTS 1. Case Profile 2. Situational Analysis 2. 1General External Environment (PESTLE model) 2. 1. 1 Political/Legal 2. 1. 2 Economic 2. 1. 3 Sociocultural 2. 1. 4 Technological 2. 1. 5 Environmental 2. 1. 6 Demographic 2. 1. 7 Global 2. 1 Industry Analysis (Porter 5 Forces) 2. 2. 1 Threat of new entrants 2. 2. 2 Bargaining power of suppliers 2. 2. 3 Bargaining power of buyers 2. 2. 4 Threat of substitute products 2. 2. 5 Intensity of rivalry 2. 3 Competitive Environment Analysis 2. 3. Future objectives 2. 3. 2 Current strategy 2. 3. 3 Assumptions 2. 3. 4 Capabilities 3. Strategic Analysis 3. 1 Strategies 3. 1. 1Operational level 3. 1. 2Business level 3. 1. 3Competitive level 3. 1. 4 Corporate level 4. Core Competencies 4. 1Tangible resources 4. 2Intangible resources 4. 3Capabilities 5. Value Chain 6. Sustainable Competitive Advantage 7. Performance Appraisal 8. SWOT Analysis 8. 1 Strengths 8. 2 Weaknesses 8. 3 Opportunities 8. 4 Threats 9. Str ategy Formulation and Implementation 9. 1 New Initiatives to Sustain Growth APPENDIX 1: Top-30 producers by International Iron Steel Institute APPENDIX 2: Top Competitors Key Measures: NUCOR APPENDIX 3: FIVE-YEAR FINANCIAL REVIEW FOR NUCOR (2002-2006) Case Study Analysis: NUCOR 1. Case Profile Nucor Corp. , the U. S largest mini-mill operator1 and largest steel manufacturer by tons produced2, continues to lead the industry in efficiency, technological innovation, profitability and delivery of high quality products at low cost structure, after a record of more than 16 years of rapid growth in a declining industry3. And with a strong relationship with its workers without unionization, Nucor’s employees claimed to be the industry’s most satisfied, most motivated and most productive, making them a formidable workforce. This case considers how Nucor has achieved its success and how to sustain it. 2. Situational Analysis 2. 1. General External Environment (PESTLE model4) 2. 1. 1. Political/legal. The steel industry has seen rocky labour relations since the late 19th century with fatalities to striking workers4. Majority of workers are represented by the United Steel Workers of America. We will write a custom essay sample on Nucor Competitive Strategy specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Nucor Competitive Strategy specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Nucor Competitive Strategy specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Another issue is the integrated steel producers have filed charges against importers of dumping steel prices, blaming them especially Japan, for declining market shares. Nucor’s plant in Hertford County was located on the banks of a fishery that required restoration in a law passed in 1997. 2. 1. 2 Economic. Steel industry is a cyclical business, subject to economic fluctuations since it depended on durable and capital goods (car, building). The industry does well during economic expansion and suffers losses and even bankruptcies during economic downturn. . 1. 3. Sociocultural. The industry became a source of employment, symbolizes American economic power and pride during good times and symbolizes economic decline and source of shame when foreign companies took over market shares5. 2. 1. 4. Technological. Technology drives major changes in the production process to increase flexibility, efficiencies and allowed automation which include the continuous casting technology, blast oxygen furnace and electric arc furnace. 2. 1. 5. Environmental. Nucor’s mill in Crawfordsville, Indianna was alleged to have violated federal and state clean air rules and discharge of 6,720 tons of pollutants into the air each year by U. S. Environmental Protection Agency. 2. 1. 6. Demographic. Mini-mills which are located close to customer base has moved as population of U. S. moved to south and west. Demographic shifts affect the industry since construction utilizes a significant amount of steel. 2. 1. 7. Global. U. S. steel exports were negligible although it had grown to 3% to 5% by the 1990s6. The U. S. teel industry has benefited greatly from the Japanese mill from their large investments in U. S. joint venture projects, new technologies, high productivity and quality product7. Globalization will subject U. S. steel makers to vulnerable changes. 2. 2. Industry Analysis Porter’s Five Forces Analysis 2. 2. 1) Threat of new entrants. For mature integrated steel industry, threat is low due to economies of scale, high capital inje ction, cyclical nature of business and difficult access to supply and distribution; but slightly higher for mini-mill because of lower capital commitment and scale. . 2. 2) Bargaining power of suppliers. For integrated steel makers, they have effectively neutralized the suppliers’ bargaining power by backward integration (steel makers acquiring coal/coke mines and transportation facilities). For mini-mill, their reliability on scrap metal has given supplier moderate to high bargaining power. Higher cost of scrap metal due to limited supply has forced mini-mill to more costly materials like iron carbide. Nucor reduced the bargaining power of steel scrap supplier by backward integration. 8 2. 2. ) Bargaining power of buyers. It is weak to moderate since producers can threaten major distributors and wholesalers with forward integration (taking over direct distribution). But the large buyers (e. g. car makers) have more bargaining power. For example, the U. S. steel producers had to fulfill Japanese automakers’ quality and standards before they were allowed to supply the Japanese auto plants in the U. S. 9 2. 2. 4) Threat of substitute products. The threat is high in applications where strength is a not crucial concern but cost is (e. g. lastic, wood, synthetic materials, fiberglass); low for applications that require strength since substitute materials are just not strong enough10. Also, the many composition steel can be produced reduce the threat. 2. 2. 5) Intensity of rivalry. It is a highly competitive market with high exit barriers since assets are specialized, increase of mini-mill competitors taking on production of steel sheets and other steel products, stagnant demand, many global competitors, commodity-like products that minimizes switching costs and customer loyalty and excess capacity11. 2. 3. Competitive Environment Analysis Nucor has grown to become the largest steelmaker in the US by tonnage2. To have a sustainable market leader position, it must continue to compete for more market share from the large, integrated steelmakers. Although Nucor is the first mover in the mini-mill sector, it must also compete against second movers. 2. 3. 1) Future objectives. Nucor’s primary objective is â€Å"the production of high volumes of quality, low-cost steel. †12 It has an ambitious annual earnings growth of 10-15%. Nucor’s competitors would have the same objective, but unlikely the same high annual growth. Nucor’s competitors will be less risk-taking, giving Nucor a distinct advantage since a risk-aversive approach produces lower returns. 2. 3. 2) Current strategy. Nucor’s strategy is cost leadership. Even if there are changes in the competitive environment, this strategy is preferred since steel is a commodity-like product. While some mini-mill competitors follow a differentiation strategy, most follow a cost leadership strategy, though not very successfully. 2. 3. 3) Assumptions. It is a general assumption for all competitors that cyclical fluctuations are continuous. Nucor’s competitors often looked like operating under a status quo while Nucor has grown to produce sheet-fed steel and stainless steel in its mini-mills, a seemingly impossible task. 2. 3. 4) Capabilities. Nucor’s strengths include highest productivity, lowest cost structure and a high profitability (30 years of continuous profits)13 in the industry and excellent labour-management relations. Nucor’s weakness, comparing to its competitors, is more exposure to short-term losses and temporary setbacks resulting from risk-taking. The large integrated steel producers are comparatively strong in terms of size, established customer base and economies of scale. In terms of tonnage produced, Nucor ranked 8th globally with 20. 3 tons in 2006 (Appendix 1). Nucor could further strengthen its position as it is not far from the world’s 2nd largest steelmaker (Nippon Steel, Japan) of 34. 7 tons. ROE wise (Appendix 2), Nucor is much stronger than its competitors with 29. 38 as compared to Commercial Metals Co’s 22. 63 and U. S Steel’s 17. 79. ROA wise, Nucor is also much stronger than its competitors with 15. 6 as compared to 8. 33 and 7. 13. Nucor is more financially sound than its competitors with a current ratio of 2. 06 as compared to 1. 69 and 1. 59. 3. Strategic Analysis 3. 1 Strategies 3. 1. 1) Operational level. Nucor’s operational level strategy is core process re-engineering. This includes pre-heating the ladles allowing for faster flow of steel into the caster, continuous casters and a processes design that limit work-in-progress inventory, limit space and increase flexibility. . 1. 2) Business level. Nucor’s business level strategy is low cost leadership, keeping with its primary objective of the production of high volumes of quality, low-cost steel. 3. 1. 3) Competitive strategy. Nucor is the industry’s catalyst for technology innovation. It pioneered and took lead of the mini-mill concept, which later produce sheet steel and thin slab stainless steel. Also taking risk with a focus on lon g-term gains (versus short term risks). 3. 1. 4) Corporate level. To achieve its goal, Nucor diversify throughout the steel business. Nucor ventured into traditional bastions of integrated steelmakers (sheet steel, stainless steel), not constrained by the mini-mill format. Nucor has engaged in numerous upstream and downstream diversification. 4. Core Competencies Core competencies are special capabilities that are critical to a business achieving competitive edge. It is harmonizing of diverse production skills integrated with technological development. 19 4. 1) Tangible resources. Nucor’s tangible resources include strong financial resources with a proven ability to generate internal funds and a track profitability record that gives it enormous borrowing power. Organizational resources appear slim without formal planning, coordinating or controlling systems. Physical resources include 8 high-performing mini-mills strategically located to customer base and good access to raw materials with the company’s new iron carbide plant. Nucor has considerable technological resources, mainly involving process. 4. 2) Intangible resources. Many innovative ideas come from its human resources. Human resources include knowledge of the business know-how, motivation to perform and strong worker-management trust and co-operation. . 3) Capabilities. This includes the capability to produce high volumes of quality low-cost steel, innovative technology, continuous process refinement, continuous productivity improvement, motivated workforce, strong corporate culture. Employees are encouraged to take risk and a high tolerance for failure is given. Employees have a sense of ownership, exceedingly loyal and share a common goal of ensuring Nucor’s meets i ts primary objective. These give Nucor a competitive edge that is costly and difficult to imitate17. And the costly duplication suggests that the resource or capability is inelastic in supply, earning the firm who possess it an economic rent. 18 5. Value chain analysis i. Support Activities Firm InfrastructureWith no formal planning or formal mission, possess a strong culture Human Resource ManagementNot unionized, rewards risk-taking, high tolerance for failure, performance based bonus plans, encourage employee suggestions Technology Developmentcontinuous process refinement, continuous improvement, licensing/buying technology ProcurementUpstream diversification, process innovation i. Primary Activities Inbound LogisticsOperationsOutbound LogisticsMarketing SalesService cost focused, coordinated with operational needsEfficient, low cost, high productivity, meeting or exceeding quality requirements, continuous improvementafter-sale support 6. Sustainable Competitive Advantage Sustainable competitive advantage is derived from the trust-based working relationships along with a high to lerance for failure, would allow Nucor to take the risk needed to produce sustainable growth. The source of this trust is in Nucor’s distinctive human resources strategy, which is characterized by informality, ad hoc planning, pay for performance, and employee empowerment. 14 7. Performance Appraisal For the last five years, Nucor’s sales have increased over 240% from $4. 33 billion (2001) to $14. 75 billion (2006). Average sales price per ton has increased 88% from $354 (2001) to $667 (2006). Total tons sold to external customers have increased 81% from 12,237,000 tons (2001) to 22,118,000 tons (2006) (Appendix 3) (Figure 1). This rapid growth has been derived from acquisitions, optimizing existing operations and developing traditional greenfield projects using innovative technologies. Nucor achieved record sales and net earnings in 2006 for the 3rd consecutive year due to historically high selling prices, margins and shipments. Nucor was strengthened as North America’s most diversified steel producer. With this diverse product line, Nucor’s short-term performance which is not dependant on any single market has been able to maintain profitability every year and every quarter since 1966. (Figure 2). Figure 1: Nucor’s Average Sales Price Per Ton Total Tons Sold Figure 2: Nucor’s Diversified Product Mix 8. SWOT Analysis 8. 1. Strengths 1. Strong financial resources (profits, returns) 2. Industry leading low cost structure 3. Motivated workforce 4. Strong corporate culture 5. Innovation resources 6. Trust-based relationships 7. Technological expertise 8. Strong physical resources 9. Strategic management leadership style 8. 2. Weaknesses 1. Vulnerable to losses and setbacks from risk-taking 2. Lack of formal organizational systems may reduce efficiency 3. High tolerance for failure risks potential loss 4. Vague marketing structure or strategy 8. 3. Opportunities 1. Expand into additional specialty products 2. Downstream diversification 3. Directly produce steel from iron carbide, eliminating the need for electric furnaces. 4. Growth and innovation through joint venture projects 5. Maintaining market leadership position 6. Exporting 7. Soaring global steel prices15 8. 4. Threats 1. Substitute products 2. Second mover mini-mill competitors 3. Integrated steelmaker competitors 4. Economic downturn 5. Sub-prime crisis in property industry 6. Globalization with consolidating competitors 7. Global oversupply (China slowed down by December 2004 and became net exporter) 8. A new technology called Finex (by Posco in South Korea) Weaknesses and Threats- Nucor does not have serious weakness but only unused production capacity and a non-differentiated product. Serious threats from foreign competitors (e. g. Acelor Mittal) consolidating could affect Nucor’s growth. Such intense rivalry may also lead to price wars. Weaknesses and Opportunities- With soaring steel prices, expansion and vertical integration would give a better return. Strengths and Threats- Expanding its product line could mitigate the threats from foreign and local competitors, given soaring steel prices will give better return. Consolidate with other steelmakers would make Nucor a bigger player globally. Using its market dominance, Nucor could negotiate with the government for better regulations against the foreign competitors. With its financial and leadership resources, Nucor should secure more backward integration into scrap steel market. Joint venture with Posco (South Korean steelmaker) to leverage new technology. Strengths and Opportunities- Nucor has the financial, human and technological resources to penetrate new market, to expand product range, to compete in the stainless steel market and to joint with Japan to open new market in the Asian region. . Strategy Formulation Implementation Nucor’s current strategy is working. Its unique corporate culture and distinctive human resources strategy which produced a non-substitutable trust-based relationship, give Nucor a sustainable competitive advantage, contrasting the antagonistic relations in the steel industry. This trust enables Nucor to take risk which facilitates its growth. As an engineer from a major integrated mill said upon visiting a Nucor plant, that Nucor’s culture were such that everyone work hard and help each other, collectively survive and meet with success. But theirs is one of aggression, confrontation and lack of trust. 16 9. 1. New Initiatives to Sustain Growth Nucor should further leverage its sustainable competitive advantage by expanding more aggressively, taking the following steps: 1. To build an additional iron carbide plant to increase the availability of low-cost raw materials. 2. To carry out market research to ascertain: a) Expand product line and downstream steel business (e. g. steel for building, bridges, highways, roof decking, flooring); b)Export market; c) Competitors’ current strategies, weaknesses and strengths; d) Joint venture partners and projects ) Expand domestic markets f) Backward integration (e. g. scrap brokerages) 3. To develop strategic marketing program 4. Add an employee stock ownership program to further reinforce employees’ sense of ownership and loyalty. REFERENCES 1. http://www. bizjournals. com/charlotte/stories/2008/04/21/daily34. html 2. http://www. anbhf. org/laureates/keniversen. htm 3. Johnson, G. Scholes, K. (2005) Exploring Corporate Strategy: Text and Cases, Prentice Hall, London 4. http://en. wikipedia. org/wiki/U. S. _Steel_Recognition_Strike_of_1901 5. John H. Sheridan, 1996 â€Å"New Era – Or Breather? Industry Week, 5 February, pp 49 6. Brian K. Boyd Steve Gove, â€Å"Nucor Corp. And the U. S. Steel Industry,†In: Strategic Management: Competitiveness and Globalization by Michael A. Hitt, R, Duane Ireland, Robert E. Hoskisson (Cincinnati, OH: South-Western College Publishing, 2001), pp C479 7. Bryan Berry, (1996) â€Å"World Steel: Competing Strategies in Metallics, Melting, and Casting,†Iron Age New Steel, 12(4), April, pp 74. 8. Bryan Berry, (1996) â€Å"World Steel: Competing Strategies in Metallics, Melting, and Casting,†Iron Age New Steel, 12(4), April, pp 76. 9. Bryan Berry, (1996) â€Å"World Steel: Competing Strategies in Metallics, Melting, and Casting,†Iron Age New Steel, 12(4), April, pp 76. 10. Brian K. Boyd Steve Gove, â€Å"Nucor Corp. And the U. S. Steel Industry,†In: Strategic Management: Competitiveness and Globalization by Michael A. Hitt, R, Duane Ireland, Robert E. Hoskisson (Cincinnati, OH: South-Western College Publishing, 2001), p. C483 11. Brian K. Boyd Steve Gove, â€Å"Nucor Corp. And the U. S. Steel Industry,†In: Strategic Management: Competitiveness and Globalization by Michael A. Hitt, R, Duane Ireland, Robert E. Hoskisson (Cincinnati, OH: South-Western College Publishing, 2001), p. C480 12. Brian K. Boyd Steve Gove, â€Å"Nucor Corp. And the U. S. Steel Industry,†In: Strategic Management: Competitiveness and Globalization by Michael A. Hitt, R, Duane Ireland, Robert E. Hoskisson (Cincinnati, OH: South-Western College Publishing, 2001), p. C498 13. Brian K. Boyd Steve Gove, â€Å"Nucor Corp. And the U. S. Steel Industry,†In: Strategic Management: Competitiveness and Globalization by Michael A. Hitt, R, Duane Ireland, Robert E. Hoskisson (Cincinnati, OH: South-Western College Publishing, 2001), p. C477-C507 14. Ted Kuster (1995) â€Å"How Nucor Crawfordsville Works,†Iron Age New Steel, 11(12), December, pp 36-47 15. http://www. usatoday. com/money/autos/2004-10-13-steel-prices_x. htm http://www. taipeitimes. com/News/worldbiz/archives/2004/03/26/2003107844 16. Bryan Berry (1996) â€Å"The Importance of Nucor,†Iron Age New Steel, 12(7), July, pp 2. 17. Barney, J. B. (1997) Gaining and Sustaining Competitive Advantage, Wesley Publishing, Addison 18. McTaggart, D and Findlay, C and Parkin, M (2006) Economic, Wesley Publishing, Addison 19. Prahalad, C. K. and Hamel G (1990) The Core Competence of the Corporation, Harvard Business Review, Mar, 1979 APPENDIX 1: Top-30 producers by International Iron Steel Institute MtonSteelmaker 1117. 2ArcelorMittal (Global) 234. 7Nippon Steel (Japan) 332. 0JFE (Japan) 430. 1POSCO (South Korea) 528. 2Tata Steel (India) Including Corus Group 622. 5Shanghai Baosteel Group Corporation (China) 721. 2United States Steel Corporation (United States) 820. 3Nucor Corporation (United States) 919. 1Tangshan (China) 1018. 2Gruppo Riva (Italy) 1117. 5Severstal (Russia) 1216. 8ThyssenKrupp (Germany) 1316. 1EvrazHolding (Russia) 1415. 6Gerdau (Brazil) 1515. 3Anshan (China) 1614. 6Shagang Group (China) 1714. 6Steel Authority of India Limited (India) 813. 8Wuhan Iron and Steel (China) 1913. 6Sumitomo Metal Industries (Japan) 2012. 8Techint (Argentina) 2112. 5Magnitogorsk Iron and Steel Works (Russia) 2211. 5Jinan (China) 2310. 9Magang Group (China) 2410. 8Laiwu Steel (China) 2510. 7China Steel (Taiwan) 2610. 5Shougang (China) 279. 9Valin Steel Group (China) 289. 8Imidro (Iran) 299. 5Industrial Union of Donbas (Ukraine) 309. 1Novolipetsk (Russia) Source: http://en. wikipedia. org/wiki/List_of_steel_producers This is a list of the largest steel-producing companies in the world according to the International Iron and Steel Institute. The list is compiled from its page Top Steel Producers 2006, but updated below from other sources. (Output in million metric tons crude steel; the country/region of producers basing specified in brackets) Total world steel output in 2005: 1,131. 8 million metric tons (mmt) Total world steel output in 2006: 1,239. 5 million metric tons (mmt) APPENDIX 2: NUCOR’S TOP COMPETITORS KEY MEASURES NUCORCOMERCIAL METALS CO U. S. STEEL VALUATION PRICE/EARNINGS (TTM)11. 9910. 5616. 34 PRICE/CASH FLOW9. 9610. 7617. 40 PRICE/SALES (TTM)1. 060. 430. 85 PRICE/BOOK3. 672. 222. 59 PER SHARE DATA LAST DIVIDEND36. 4719. 512. 71 BOOK VALUE18. 7714. 2948. 33 EPS (TTM)5. 092. 277. 08 REVENUE16. 59 B8. 32 B16. 87 B PROFITABILITY EBIDTA3. 02 B684. 52 M1. 72 B OPERATING MARGIN15. 38%6. 93%6. 79% PROFIT MARGIN8. 87%4. 27%5. 21% GROSS PROFIT MARGIN18. 86%13. 94%10. 28% DIVIDEND DIVIDEND YIELD2. 77%1. 2 6%0. 55% PAYOUT RATIO36. 4719. 6512. 71 ANNUAL DIVIDEND (TTM)176. 5 Mâ€â€Ã¢â‚¬â€Ã¢â‚¬â€ DIVIDEND YIELD 5 YEAR AVERAGE3. 17%0. 90%0. 66% GROWTH NET INCOME1. 47 B355. 43 M879 M EPS (TTM)5. 09%2. 27%7. 08% REVENUE16. 59 B8. 32 B16. 87 B PEG1. 24%1. 58%0. 71% FINANCIAL STRENGTH QUICK RATIO (MRQ)8. 874. 275. 21 CURRENT RATIO (MRQ)2. 61. 691. 59 LT DEBT TO EQUITY RATIO (MRQ)45. 9239. 0854. 38 TOTAL DEBT TO CAPITAL (MRQ)29. 6231. 4437. 07 ROE29. 3822. 6317. 79 ROA15. 608. 337. 13 ROIC (RETURN ON INVESTED CAPITAL)22. 0419. 0213. 41 ASSETS ASSET TURNOVER1. 692. 401. 08 ASSET PER EMPLOYEE545,895. 66667272,793. 63708557,714. 28571 INVENTORY TURNOVER9. 518. 637. 54 SOURCE: HTTP://FINANCE. AOL. COM/COMPANY/NUCOR-CORPORATION/NUE/NYS/TOP-COMPETITORS APPENDIX 3: FIVE-YEAR FINANCIAL REVIEW FOR NUCOR (2002-2006) FOR THE YEAR20062005200420032002 Net sales14,751,27012,70 0,99911,376,8286,265,8234,801,777 Costs, expenses and other: Cost of products sold11,284,60610,108,8059,174,6115,993,4924,335,409 Marketing, administrative and other expenses592,473459,460374,730165,369175,589 Interest (income) expense, net(37,365 4,20122,35224,62714,286 Minority interests219,121110,65080,84023,90479,408 Other income (9,200 (1,596 (11,547 (29,900 12,058,83510,673,9169,650,9376,195,8454,574,792 Earnings before income taxes2,692,4352,027,0831,725,89169,978226,985 Provision for income taxes935,653709,834607,9065,18166,899 Net earnings1,756,7821,317,2491,117,98564,797160,086 Net earnings per share: Basic (1)5. 734. 193. 530. 210. 51 Diluted (1)5. 684. 153. 00. 210. 51 Dividends declared per share (1)2. 150. 930. 240. 200. 19 Percentage of net earnings to net sales11. 9 10. 4 9. 8 1. 0 3. 3 Return on average equity38. 3 33. 8 38. 2 2. 7 7. 0 Capital expenditures338,404331,466285,925215,408243,598 Depreciation363,936375,054383,305364,112307,101 Sales per employee1,2731,1591,107637528 AT YEAR END Current assets4,683,0654,081, 6113,182,1321,639,7841,429,305 Current liabilities1,421,9171,228,6181,042,776615,067573,697 Working capital3,261,1482,852,9932,139,3561,024,717855,608 Cash provided by operating activities2,251,2332,136,6151,024,756493,801497,220 Current ratio3. 3. 33. 12. 72. 5 Property, plant and equipment, net2,856,4152,855,7172,818,3072,817,1352,932,058 Total assets7,893,0187,148,8456,140,3914,511,5774,394,944 Long-term debt922,300923,550923,550903,550894,550 Percentage of debt to capital15. 3 17. 0 20. 2 26. 1 25. 8 Stockholders’ equity4,857,3514,312,0493,481,2812,370,8732,349,770 Per share16. 1413. 9010. 917. 547. 51 Shares outstanding300,949310,220319,024314,361312,720 Employees11,90011,30010,6009,9009,800 Source: http://www. secinfo. com/d14D5a. u7c82. c. htm#1stPage
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