Food Nation Essay Example for Free

Food Nation Essay Food connotes more than just an intake to be able to sustain life. It is a reflection of a myriad of culture existing in a society. Looking at food, one can see its various fusions of cultural identities prepared to satisfy one’s appetite. Food is a perfect example of a world that enters into the process of globalization where nations embrace the flow of cultural exchange. Countries such as the United States and Italy are known for having diverse demographics. The diversity of its population brought influences into their food as well. However, although both countries may have fused each other’s culture into their food, there are still differences which make them distinct from each other such as how they handle and view food. The United States is one of the largest countries when it comes to its size and population. It has a wide variety of immigrants which flowed starting from the nineteenth century and as its population continues to grow, its culture has been as dynamic as its food (Counihan, 2002, p. 26). Large part of these immigrants later joined the American workforce as every parent became employed. The absence of either the mother or the father at home veered the majority of the population away from home-cooked meals. Eating out became an alternative for families to have their meals together and eating out means buying food from a restaurant (Schlosser, 2001, p. 4). From this concept of eating outside the confines of a home, the fast food world was born. The term â€Å"fast-food† refers to a speedy availability of food, further described as a â€Å"provision of limited, standard menu with quick service† (Royle Towers, 2002, p. 190). Fast food became not just a way to fill skipped meals at home but it turned out to be a lifestyle. The United States initially became known for its fast food because of the rise of popular food chains such as McDonald’s and Burger King. Its convenience of having ready-made food suits the lifestyle of people especially those who go to work early and go home late. Since there are a large number of working people in the United States, they flock to these restaurants to eat. Foods are being prepared in bulks to anticipate the huge numbers of customers. Most ingredients provided are delivered frozen. Cooking methods involved one or a couple of processes to guarantee its speed. Assembling ingredients in a line system like burger patties will be able to cook a dozen of it at the same time (Schlosser, 2001, p. 69). Some of the food ingredients only require adding hot water and it’s ready for preparation. Fast foods are usually packed in paper wraps, foil, and cartons. The materials of these wrappings are disposable which suites the people on-the-go to eat the food wherever they are. Despite the convenience brought about by fast food, healthier ingredients are being given up. As previously mentioned, ingredients are frozen which indicates that these are not fresh and devoid of its natural healthy components with much more added fats. Since Americans are busy with work with no time to prepare food for them, fast food becomes the next available fast option. Italians, on the other hand, became the center of what should be a counterpart of fast food. A country rich in culture, its food gained renowned identity throughout the world. Just like in the United States, Italian food is a lifestyle. It is a lifestyle which extends to close interaction with families and friends in a laid-back environment dining and drinking wine (Parasecoli, 2004, p. xii). The relaxed atmosphere among most Italian household can be seen as a break from the political and social unrest that reign the Italian state during history. Italian food is famous for the cheese, the wine, and the pasta. Made from a wide array of sea foods, vegetables, and meat; Italian food is prepared picking up the fresh ingredients and served as a craft of art. Ricotta, for example, is bought by locals straight from a shepherd on the day it is made (Harrison, 1989, p. 17). Italians regard their food not just as an energy provider but as a â€Å"medicine for the soul, one of life’s abiding pleasures† (Harrison, 1989, p. 17). Most of the Italian foods are cooked in accordance with traditions and the food preparation varies from the different regions of Milan and Florence (Harrison, 1989, p. 143). Taking this traditional view of Italian cuisine, a movement was established to retain not just the traditional cooking of the Italians but also all traditional cuisines of the world. The Slow Food movement is originally established as a counterpart of fast food. The idea of this movement is to make food from â€Å"scratch in your own kitchen† (Kummer, Cushner, Schlosser, 2002, p. 10) rather than the processed artificial food at fast food chains. Just like Italian food, the movement aims to take food as a pleasurable experience offered by life in contrary to fast foods (Pollan, 2008, p. 194). The Slow Movement suggests making food out of ingredients that are ideally grown in the backyard or farms, harvested, and cooked with other natural recipes. The people who eat the foods are not only consumers but co-producers as well. Just like the Italian food, this movement also promotes the pleasure of food eaten and shared communally (Pollan, 2006, p. 259). Though this movement proved to be promising, some may say that in contrast with fast-food, the Slow Food Movement is more expensive to obtain and to do. Since fast-food is more accessible and cheaper, the movement has been tagged as elitist and cannot be afforded by ordinary people (Kummer, et al. , p. 10). By its term of â€Å"slow-food,† this may not suit the lifestyle of most people coming from the working class due to the lack of time for food preparation. United States and Italy vary from the way they live their life with food. Though nowadays, some of their own cuisines have been inspired from one another. Their views of food have a huge gap as the two nations came from different backgrounds and developed cultures that set them apart from each other. Their cuisine style and food preparation became significant in the world today and though different in principles, people enjoy it nonetheless. References Counihan, C. (2002). Food in the USA: A Reader. New York: Routledge. Harrison, B. G. (1989). Italian Days.New York: Atlantic Monthly Press. Kummer, C. , Cusner, S. , Schlosser, E. (2002). The Pleasures of Slow Food: Celebrating Authentic Traditions, Flavors, and Recipes. USA: Chronicles Books. Parasecoli, F. (2004). Food Culture in Italy. Connecticut: Greenwood Publishing Group, Inc. Pollan, M. (2008). In Defense of Food: An Eater’s Manifesto. New York: The Penguin Press. Royle, T. Towers, B. (2002). Labour Relations in the Global Fast-Food Industry. New York: Routledge. Schlosser, E. (2001). Fast Food Nation: The Dark Side of the All-American Meal. New York: Houghton Mifflin Books.

Humanism in the Renaissance Period

Humanism in the Renaissance Period Humanism of the renaissance period has manifested a new and developed courtier that is different from earlier courtiers of the medieval age. Courts, during the Renaissance, were the center of social as well as political life of monarchs and other members of society. Individuals like clergymen, soldiers, and clerks were always present in courts. But the most important figure in courts is the Courtier who basically is a person who attends a royal court as a companion or adviser to the king or queen.  [1]  . This definition of the courtier is applicable to the medieval courtier who is knightly and chivalric, but with the emergence of Humanism and the publication of books of conduct that strive for perfection in a human being a new Humanistic inclusive courtier has emerged. To understand what constitutes a Renaissance courtier and whether he is different from his medieval counterpart an examination of the medieval ideal and of Renaissance Humanism is a must. Classical mythology has always appealed to the medieval court and many medieval romances were based on classical works. The pagan Greek and Roman heroes were transformed into chivalric knights, the classical wars became medieval crusades and the platonic concept of love inspired medieval courtly love. Chaucers parfit gentil knyght (Halsall L.71)seems to be the noblest of the pilgrims embodying military expertise, devotion, honor, bounty, and courtesy. He carries himself in a gracious and well bread fashion, never articulating a cruel word about anyone: A knyght ther was, and that a worthy man, That fro the tyme that he first bigan To riden out, he loved chivalrie, Trouthe and honour, fredom and curteisie. Ful worthy was he in his lordes werre, (Halsall L.43-7) His tale, a chivalric romance set in ancient Athens, touches upon all the great subjects and values of knightly conduct. Courtly love, honor, chivalry and adventure dominate this tale. Every conduct in this story is ideal; the love is pure, ideal and platonic, honor is at its highest standards, chivalry is exemplary in its magnificence. The poem starts with the Knight, Theseus, coming back from a triumphant journey and on his way he meets a group of mourning women grasping onto his horses bridle. The women tell their terrible story of how they lost their husbands in the siege of Thebes and how the cruel tyrant of Thebes plans to dishonor their husbands bodies by denying them burial. Moved by this spectacle the Knight takes pity on them and changes his course. Instead of returning to Athens to celebrate victory, he rides off with traditional knightly spirit to right the wrongs in this world. Then in this war he takes two prisoners who are friends, Arcite and Palamon, and who are Knigh ts as well. In prison the two notice, from the window of their cell, the beautiful Emily walking in the garden. In an instant they fall in love, and their friendship is replaced by a passionate rivalry. At this point in the Knights tale readers are introduced to the concept of courtly love. After a great deal of dispute and duels and a grand tournament, Arcite, the noble knight and gentleman, calls Palamon Emily to his deathbed and asks of his friend to marry his beloved in an attempt to reconcile with his friend. A true embodiment of the medieval gentry. In early modern Europe, people paid special attention to the life of the royal court, and the image of the courtier was depicted in many literary works. In Cortegiano (1528), or The Book of The Courtier (an English translation by Sir Tomas Hoby 1561), Baldassare Castiglione an Italian courtier in the Renaissance Italy writes an account on the ideal image of the perfect courtier. This book is recognized by historians as a resourceful reference to the Renaissance court life. Over the course of four evening conversations between the courtiers in the court of Urbino in Italy, the narrators discuss and describe what constitute a perfect courtier, for they agree that a courtier who had the privilege to accompany the royalties must be perfect. It is been argued in The Book of The Courtier that a noble courtier is often: endowed with such gifts that they seem not to have been born but to have been formed by some godand blessed with every possible advantage of mind and body (Castiglione 124 ). The perfect courtier must have a reputation of a brave strong man and must maintain this reputation. His profession should be of a warrior who is enterprising, bold, and loyal to whomever he serves(131). This warrior courtier should be fierce rough and always to the fore, in the presence of the enemy; but anywhere else he should be kind, modest, reticent and anxious above all to avoid ostentation or the kind of outrageous self- glorification (135). The aspect of the perfect courtiers appearance is also identified. He must be very agreeable and pleasing and well dressed. He should manage to appear both manly and graceful (141). There is great resentment for the courtier who tries to appear soft and feminine not only in his looks but also in the way he speaks and walks. As for the physical appearance, he should be well built not necessarily too small or too big. He must possess the physical appearance of a warrior who masters the skills of every kind of weapon. The perfect courtier is expected to be a good athlete who is so skilful in many kinds of sports, like horse riding, swimming, and running. There are also many other sports, but it seems that hunting is the most important since it resembles warfare [and] it is the true pastime of great lords (147). Besides his appearance, the good gentleman of the court must possess the finest set of manners. He is modest, gentle, elegant and graceful. He ought to avoid the affectation of being a bold fellow who shouts, swears and brags. When the perfect courtier speaks, his words have grace and dignity and they are sensible and effective and convey what he wants to say. He is a good writer too, and the words he uses in his writings should be appropriate, carefully chosen, clear, and well formed. The courtier requires knowledge in order to speak and write well, because the man who has nothing in his mind that is worth hearing has nothing worth writing and speaking of. Another literary work that depicted the lives of the courtiers is Le Morte Darthur (1485) by Sir Thomas Malory. This work is considered a masterpiece of the fifteenth century prose of romance tales about the legendary King Arthur, Guinevere, Lancelot, and the Knights of the Round Table. (Alexander). The Faerie Queene (1590), an allegorical epic poem written in praise of Queen Elizabeth I, follows several knights in an examination of several virtues. In Spensers A Letter of the Authors he states that the entire poem is cloudily enwrapped in allegorical devises and that the aim of publishing The Faerie Queene was to fashion a gentleman or noble person in virtuous and gentle discipline (Department of Literature). The printed text of Jonsons Every Man out of his Humour (1599) opens with a series of short prose sketches entitled The Characters of the Persons Fastidius Brisk, for example, is described as: A neat, spruce, affecting courtier, one that wears clothes well and in fashion; practiseth by his glass how to salute; speaks good remnants (notwithstanding the base viol and tobacco); swears tersely, and with variety; cares not what ladys favour he belies, or great mans familiarity: a good property to perfume the boot of a coach . (Braunmuller and Hettaway) Instructive prose, which become somewhat of a trend at the time, were written for the aim of improving gentlemen. They were mostly written by tutors to the greats, sons of monarchs and noblemen. These prose were written under the influence of the Humanist tradition of the time, the instruction of the youth (Bates). Sir Thomas Elyot dedicated his Governor (1531) to guide Henry VIII on being the perfect gentleman and governor. He stressed the importance of education in classical literature for governors. Henry VIII, prior to being a king, was in fact a ideal example of a renaissance courtier and gentleman; a champion athlete who composed poems and songs, highly educated and skilled in speech. Another instructive book of the Renaissance within the same tradition is Toxophilus (1544). A book about bow archery by Roger Ascham also dedicated to King Henry VIII. Toxophilus is written in the form of a dialogue between two characters, Philologus, who loves study, and Toxophilus, who loves arc hery and who is also a scholar and defends archery as a noble hobby (Ascham). The Prince (1532) by Niccolo Machiavelli is a political treatise that was published after the death of its author. The book is a practical guide to the exercise of political power. It preaches that the princes ends justify the means which they take to attain them; a rather disturbing but truthful statement (Machiavelli). Other instructive books with titles like, The Schoolmaster and On the Excellency and Dignity of Mankind appeared during the Renaissance (Baldwin). Renaissance Humanism in its narrowest sense is a movement devoted to the study, revival and translation of classical literature which is why at its beginnings early Humanism focused on education. The need to educate the rulers springs out from the platonic and ancient belief in a perfect republic. Renaissance humanists found it most necessary to educate the leaders of the time in a hope to transform them into capable intelligent patrons of a humanist culture. Thus, early Humanism transformed the European high culture pushing for the inclusive human who is not only educated in the classics but who is educated in philosophy, art, literature, science, music etc. this lead Renaissance Humanism to have a broader philosophical dimension; to encompass all forms of knowledge for the aim of guiding humanity to a better position in life, hence the explosion in scholarly interests and inventions. The Humanistic movement was initiated by Petrarch, the father of Humanism. He is the first to put into words why the centuries between the Roman age and his current age were called age of darkness. According to him this darkness can be remedied only by the study and imitation of the great classical authors. Only by caring about the self, educating and polishing ones mind can one attain wisdom: The care of the soul calls for a philosopher, while the proper use of language requires an orator. We must neglect neither one, if, as they say, we are to return to the earth and be led about on the mouths of men. But I shall speak of the care of the soul elsewhere; for it is a great undertaking and an enormous labor, though very rich in harvest. At this time in order to avoid slipping into a subject other than the one that I set out to treat, I urge and admonish that we correct not only our life and conduct, which is the primary concern of virtue, but our language usage as well. This we will do by the cultivation of eloquence.  [2]  (Zak 79) Petrarch here is building on Ciceros conception of the art of persuasion. Petrarch emphasizes that once language is mastered it could be utilized to attain eloquence or rhetoric, and then rhetoric is led to embrace philosophy. Renaissance Humanism have made use of the earlier idea of the exemplary magnificence of knights and fused the ideal Knight with the Classics scholar and the end result was the Renaissance Courtier. He is a citizen who excels in classical literature, history, and arts. A skilled fencer, rider, and most importantly a composer and performer of music and poetry which is the immediate result of humanistic stress on eloquence. This courtier is of noble decent and is trained to administrate and govern. Success to him comes naturally and it is worn with grace. The historical records of the era list a number of English poets who were courtiers. Sir Thomas Wyatt, is considered the first English Gentleman courtier (Alexander). Surreys Epitaph on Sir Thomas Wyatt praises the parts that constitute of him a Renaissance courtier: A tongue that served in foreign realms his king, Whose courteous talk to virtue did inflame Each noble heart: a worthy guide to bring Our English youth by travail unto fame. An eye whose judgment no affect could blind, feeling Friends to allure and foes to reconcile, Whose piercing look did represent a mind With virtue fraught, reposà ¨d, void of guile. (Alexander 57) Surry portrays him as an exemplary gentleman. In fact Sir Thomas Wyatt lead the typical life of a courtier; performing political duties and going on diplomatic posts on behalf of his patron, King Henry VIII. He was a sonneteer who sang about unrequited love, and is rumored to having a romantic relation with the kings wife which caused him to suffer imprisonment. But given the tradition of courtly love it is not strange for courtiers of the time to go through such ordeals. Sir Walter Raleigh was also a very famous courtier who served Queen Elizabeth I and who suffered imprisonment for unbecoming conduct. The ideal, however, of aristocracy and courtliness is embodied in the person and accomplishments of Sir Philip Sidney who served in several political and military posts. He refers, for example, to his vast literary work Arcadia as a trifle. But his ultimate embodiment of the Renaissance courtier is when he lay dying on the battlefield, he is said to have given his water-bottle to a common soldier, saying, Take it, for thy necessity is yet greater than mine  [3]  . It is interesting, however, to find that these courtly values and commitment to character and its refinement are not restricted to the Renaissance age. Islamic humanism has produced a similar tradition of ethics. Courtly Humanism existed in the form of ambitious wazirs  [4]  and princes seeking to be polished and of a higher culture through the patronage of poets, painters, scholars, scientists, and philosophers. Having administrative skills and military expertise were virtues that were highly rewarded. The tradition of courtly love was also present in Islamic culture; Ibn Hazms Neckring of the Dove (Tawq al-Hamama)is the first book that talks about this tradition of courtly love; its symptoms, secrets, betrayals, etc.(62) The most explicit advocate of this philosophical concept is Miskawayh. He is an embodiment of the Muslim courtier; Khalidi describes him as a prolific author, a philosopher of very broad interests, an accomplished poet and adib  [5]  , as well as a universa l historian. His On the Refinement of Character [Tahdhib al Akhlaq] has been called the most influential work on philosophical ethics in Islam (Goodman). It is an ethical work that encompassed all his values by demonstrating and stressing the importance of an inclusive gentleman, courtier or rather human for the purpose of the betterment of humanity (107). Evidently, the Renaissance courtier springs out from Humanisms tendency for perfection. Humanistic conduct texts and literary works have contributed to exemplify what a courtier should be, an all inclusive human being. As the attainment of perfection is integral in humans, and the aspiration for perfection and the affirmation of human ability is universal, the Humanistic courtier can be found in other cultures as well.

Just In Time (JIT) Inventory Control

Just In Time (JIT) Inventory Control Just In Time Introduction Just In Time Inventory Control is a production method which views inventory as waste. Although it eliminates the need for inventory, it a complex process which is not easily implemented in companies. In order for a company to successfully implement JIT Inventory Control, different areas of statistics, industrial engineering, production management, and behavioral sciences have to be taken into account. Just in Time (JIT) is a tool for process improvement. This type of manufacturing system has allowed the company to substantially improve the value stream, that is, increase profitability and build high-quality, low-cost products at high efficiencies. JIT principles are closely aligned with lean manufacturing, another production concept that grew out of Toyota. Lean is an overarching philosophy which seeks to reduce waste throughout the organization. While JIT is one of several tools used to achieve lean, it can be implemented on its own. Lean practitioners have a language of their own, and the definition or application of these terms is often debated. Here are some common terms which are associated with lean practices and one accepted meaning for each: 5S A five-step method for creating clean, organized workspaces: sort, simplify, sweep, standardize, and sustain. Kaizen is known as an event in which team members evaluate procedures or equipment and seek to make improvements. Kaizen events are part of a continuous improvement process. In addition, Kanban is a visual sign or signal typically used to trigger an order for parts or materials, (Edward J. Hay; Wiley, 1998.) Description According to the traditional accounting practices, inventory holds and adds value. Just In Time, on the contrary, views inventory as waste that is constantly incurring costs. The waste is associated in terms of time, labor, and storage space. In essence, JIT Inventory Control produces only what is needed, when needed, and only in the amount required. JIT Inventory Control also produces the required units, in required quantities, with the right quality. There are many problems which can arise due to having little or no inventory such as work center backups, machine breakdown, variance in processes, problems with employees, lack of flexibility of employees and equipment, or even insufficient capacity. The main problem with JIT Inventory Control is that companies cannot predict total accuracy of material flows. Another problem that is encountered is that warehouse inventories fluctuate and inventories may be full or near empty at any given time. This makes it a task for members of manag ement to accurately plan logistics. History and Development Ford Motor Company initially used JIT in the early 1920s. This was later implemented by Toyota in 1954 who then publicized the concept. This concept helped Toyota cut down on overstocking car production. The concept focuses on eliminating inventory that doesnt add value to the product and it views inventory as a sign of poor management as inventory acts as a buffer that conceals problems in the production system. Toyota has proved to be one of the largest players in the auto industry. The company is headquartered in Toyota City in Japan and has plants worldwide. Cultural aspects It is necessary to consider several factors that influence the Japanese culture, which accelerated the evolution of JIT. Different Japanese characteristics, from which will take those that is considered the most relevant are lack of space: in Japan in general there is not room enough for mostly any activity, not surprisingly the reduction of inventories was welcome by the management. Commitment to consumers: consumers satisfaction has always been a priority. JIT is a pull production system that minimizes the waiting time of each buyer. This time starts when the buyer places the request for new products. Overcrowded living conditions: lead time shortages and maximum efficiency are a consequence of Japaneses requirements to improve their living conditions, either inside the company or within the society. Toyota aims at producing cars of high quality at a low cost. JIT Process Control enables Toyota to achieve this effectively. Toyota, especially being situated all over the world, has excellent labor relations. For Toyota, parts are delivered to the assembly line just in time for assembly. Supplier and labor relations are a crucial aspect of this process. Toyota holds and maintains close relationships with its suppliers and focuses on continuous improvement. Together, teams follow a decentralized method of decision-making and move forward with a motivated workforce. Employees are cross-trained to operate many different types of machinery. Toyota also uses â€Å"Andon† to show daily production figures and to report problems encountered on the assembly line. Toyota also focuses on total quality that is achieved through zero defects. This ties in with just in time inventory control. If a part is defective, the pro blem is traced to the source and the problem is attended immediately or the production line is stopped. Without excellent supplier relations, a large manufacturer cannot support a just in time manufacturing system. Parts are delivered many times daily and suppliers are also responsible for entire systems such as brakes, seats, and electrical systems. Since deliveries can be interrupted, Toyota uses two suppliers. A strong, long-term relationship with a few suppliers is better than short-term, price-based relationships with many competing suppliers. â€Å"Toyota uses this long-term relationship to send Toyota staff to help suppliers improve their processes. These interventions have been going on for twenty years and have created a more reliable supply chain, improved margins for Toyota and suppliers, and lowered prices for customers. Toyota encourages their suppliers to use JIT with their own suppliers.† Without cooperation and a dedicated workforce, success of the JIT Inventory Control system would not be possible for Toyota. Long term commitment and cooperation is essential for the success of JIT. Implementing JIT Just-in-time cannot be explained in a simple multi-step process. Naturally, every company presents unique challenges and opportunities. The following is a basic overview of just-in-time concepts. People involvement- whoever is related to the company that intends the implementation, shall be committed to the project. Starting with the machine operators and ending on the high level management, everybody has not only to be aware of the implications but to support the implementation as well. Implementation is a critic phase of JIT, and is advisable to avoid problems, to reduce the amount of time and efforts throughout this stage. Plants- numerous changes take place in the layout of the new plant. Some changes are easy to achieve as the so called productions cells, in which the machinery is located in a way that helps reducing the time it takes to move materials from one process to another. Nevertheless the introduction of Kanban (Japanese name of the cards that confirm material requirements), self-inspection, Material Requirement Planning (MRP) and MRP II (in case they were not already in use) and job enrichment within plant workers, involve structural change; thus they are far from being simple to implement. MRP I involves a computer system for building inventory, scheduling the production and to administrate inputs; on the other side MRP II, that stands for Manufacturing Resource Planning, includes the MRP Is activities plus marketing and purchasing operations and the financing function. Systems- existent systems may remain within the company; however the MRP and MRP II systems should be implemented. Further investments can take place, as the use of luminous Kanbans or the implementation of the Electronic Data Interchange (EDI) to link inventory existences with the suppliers. Purchasing- relationships with suppliers become a key factor not only in a JIT environment but in other production systems that intend to reach efficiency and to shorten production time. This issue is reviewed in depth on the 3rd part of this paper. Conclusion JIT Inventory Control is a very effective and efficient in eliminating waste. The process also enables companies to use more of the warehouse for assembly and production. Therefore space is not wasted and utilized instead to maximum capacity. This also reduces inventory costs. JIT Inventory Control requires cooperation and commitment between suppliers and the manufacturer. Without a close knit supplier-manufacturer relationship and reliability, JIT Inventory Control is useless. Although with many suppliers, manufacturers can expect price wars and competition enjoying lower prices. However, this puts reliability at stake. With limited or few suppliers as in the case with Toyota, a close bond can be maintained and reliability is not jeopardized. If it is possible, companies should adopt JIT Inventory Control and maintain long term supplier manufacturer relationships with dependable suppliers in order for the process to flow smoothly. Citation Just In Time Manufacture. C.A. Voss; IFS 1987. Retrieved December 4th, 2009 Just In Time Manufacturing: an aggressive manufacturing strategy. Richard T. Lubben; Mc Graw Hill, 1988. Retrieved December 4th, 2009 Just In Time Manufacturing: an introduction. T. C. E. Cheng and S. Podolsky (2nd edition); Chapman Hall, 1996.Retrieved December 4th, 2009 The Just In Time Breakthrough: implementing the new manufacturing basics. Edward J. Hay; Wiley, 1998. Retrieved December 4th, 2009 http://www.sytsa.com/repository/publications/ingles/jit_manufacturing.pdf Just In Time Manufacturing in Perspective. Alan Harrison; Prentice Hall, 1992. Retrieved 4th, 2009 Fundamentals of Logistics Management. D. M. Lambert, J. R. Stock and L. M. Ellram; Irwin Mc Graw Hill, 1998.Retreived December 4th, 2009 Hyer, Nancy Lea. Reorganizing the factory competing through cellular manufacturing. Portland,Or: Productivity P, 2002.Retrieved December 4th, 2009 Stevens, Tim. â€Å"Pedal Pushers.† Industry Week 17 July 2000. Retrieved December 4th, 2009 http://info.4imprint.com/wp-content/uploads/Blue%20Paper%20JIT.pdf Tim Osborne,† Internet Kanban delivers just in time†. Retrieved December 4th, 2009. http://www.ultriva.com/Articles/Internet_Kanban_delivers_just_in_time.pdf M. Reza Vaghefi,† Financial Times 2001 Report reproduced Oct. 3, 2002, Public Affairs Division, Toyota Motor Corporation. Retrieved December 4th, 2009 http://sysdoc.doors.ch/TOYOTA/toyotaphilosohy. Business Tycoons, Case Study â€Å"TOYOTAS GLOBAL PRODUCTION STRATEGY† http://www.iamebt.com/yahoo_site_admin/assets/docs/BT_Case_Study_2.46232317.pdf. Retrieved December 4th, 2009

Abelard and Heloise of Historia Calamitatum :: Historia Calamitatum Essays

The twelfth century was divided into two phases: Early Middle Ages or Dark Ages and the High Middle Ages. It's during the High Middle Ages when things started to take a turn both mentally and physically. Churches developed more stamina and papal bureaucracy was created. The government was revived. Urbanization increased and most of all a sudden increase was brought in cultural revitalization and courtly love was an important aspect of this awakening. Courtly love is defined as humility, courtesy, adultery and religion of love. This is what I believe Abelards's and Heloise's relationship was based on in Abelard's Historia Calamitatum and his letters to Heloise. Abelard was a well-known figure of the twelfth century that taught dialectic philosophy. Abelard was in his late thirties when he first met Heloise in Paris. And it was her knowledge and gift for writing letters, which was so rare in women at the times that attracted Abelard to her. Heloise was the niece of one of the Cannons. She was about seventeen when she met Abelard; this was not considered a big deal for back then it was pretty common to have big age difference in marriages. Heloise was considered atypical because women were rarely educated at all back then. She was strong willed and she had a pretty good sense of logic and this is what brought them together. Heloise struck a deal with Heloise's uncle to educate her and gained full access to her pleasures. Their relationship encompassed the maximum in personal freedom. "Her studies allowed us to withdraw in private, as love desired and then with our books open before us, more words of our love than of our reading passed between us, and more kissing than teaching. (Radice 67). Later Heloise became pregnant and Abelard could not successfully sidestep the rules of the society because the society of a time just wouldn't accept a premarital sexual affair. I believe Abelard and Heloise got engaged in the first "modern" love affair. Because they enjoyed each other both sexually and intellectually, just as how it's perceived in today's world. Though Heloise's attitude towards marriage and love was quite different from the other women of the twelfth century. She resisted the idea of marriage because she thought it was more of an economical and political idea than real love and that she would rather be called a whore or a mistress instead of a wife.

Marina Warners The Dragon Empress Essay -- Marina Warner The Dragon E

Marina Warner's The Dragon Empress At the age of sixteen, the beautiful and elegant T’zu-hsi entered the Forbidden City in Peking. The daunting walls, enormous buildings and massive pillars loomed around her as she walked deeper and deeper into its confines. She entered the palace as a timid young girl, but it was from within these walls that she would keep her claws around all of China. Marina Warner describes the life of this ruthless enchantress in The Dragon Empress, an essential read for understanding Chinese culture during the 18th and early 19th centuries. Tz’u-hsi, also known as the empress dowager, ruled all of China from 1861 to 1908. It is amazing that a woman ruled over 400 million people during this time. She began as a courtesan in the emperor’s court, but after bearing a male heir she quickly gained power. After the death of the emperor and the death of her son, Tz’u-hsi appointed her nephew to the throne. She quickly became dissatisfied with him, however, and took all the power for herself. Tz’u-hsi hated the outside powers who were carving up China for themselves, so she encouraged the Boxer Rebellion. The Boxers attacked foreigners in an attempt to get them to leave. Tz’u-hsi also tried to keep China traditional and hated modernization. She was a very powerful and cunning woman who manipulated those around her. The book begins with the birth of Tz’u-hsi in 1835 and goes on to explain her family situation. It describes her path to power and how she manipulated the eunuchs in the palace to act as her spies and personal confidants. From the circumstances of her birth to her fatal fight with dysentery, Tz’u-hsi’s life is described in great detail within the... ...cited, so it is a great tool in understanding Tz’u-hsi. However, I would have believed Marina more if she cited personal accounts of Chinese people who lived during Tz’u-hsi’s time. I would like to know how the people of China really felt, and if it is how Marina describes it. Despite any inherent weaknesses in the book, Marina Warner has done an incredible job bringing the story of Tz’u-hsi and a vivid image of China to the world. The photographs that she placed in this book depict court life and compliment the book well. Marina’s mastery of words allows her to paint the scenes of Tz’u-hsi’s life. I highly recommend this book to anyone who is interested in discovering the intimate details of Tz’u-hsi’s life, her road to power, and China at the turn of the century. Works Cited Warner, Marina. The Dragon Empress. New York: Atheneum, 1986.

Politics And History Of Japan Essay

Nazi rule in Germany was unleashed after the Reichstag Fire in Berlin and almost 3 years after this, the February 26 incident helped to introduce militaristic rule in Japan. The February 26 incident awakened the sleeping giant that was Japan and triggered off major world conflicts. The February 26 Incident On February 26, 1936 a breakaway faction of the Imperial Japanese Army composed of young junior officers and swearing allegiance to the Kodo ha faction within the Army, slipped into the middle of Tokyo and captured key government buildings including the one which housed the Diet or Japanese parliament and Army headquarters. Groups raided the residences of the Prime Minister and senior officials in an attempt to assassinate them.   Prime Minister Okada Keisuke had a narrow escape when the rebels killed his brother in law instead. Others, among them the Finance Minister, were murdered. Subsequently that day, the rebel faction went to the Army Minister to make their demands. They declared the government unfit to lead the affairs of Japan not able to do enough for it as a military power, instead more involved with politics and their self- interest. The action, the group declared was taken in the name of the Emperor. They demanded an immediate dissolution of the Government and the installation of a military General sympathetic to their cause. However, this infuriated Emperor Hirohito who was appalled at the killing of senior colleagues. He summoned Aide de Camp General Shigeru Honjo and declared the faction members as rebels who were acting without the authority of the Imperial Army. The Emperor wanted the rebellion to be squashed. But Army retaliation was not forthcoming as senior officers were still in agreement with the agenda of the rebels. However   the ‘Toseiha’ faction in the Army which was against the doctrines of the Kodo Ha, volunteered full support to the Emperor and even the Imperial Japanese Navy sprung into action, moving its ships into the Tokyo Bay to cut off the rebels. When Emperor Hirohito was informed about the reluctance of the Army to take decisive action, he vowed to personally lead his ‘Imperial Guard ‘into the fray. The following day, martial law was declared and the rebels were boxed in and pamphlets of the Emperor’s declaration were circulated indicating that there was no support from any of the forces for their attack. General Honjo, once a believer of Kodo Ha doctrines was on the Emperor’s side. The offensive lasted till February 29 when the army moved in to capture the rebels and senior members of the faction were ordered to commit ‘seppuku’ or ritual suicide rather than lose their honor in a public trial. Other junior officers were spared. Altogether, 70 coup members were arrested and prosecuted for the crime.[1] Subsequent Events   Ã‚   The four day siege resulted in martial law being stretched to July. The army, sensing an opportunity, used the power provided by martial law to expand its powers and budget. Prime Minister Okada was replaced by Koki Hirota. This effectively ushered in totalitarian rule in Japan which was to set the stage for the Second Sino – Japanese War.[2] Historical Background of Militarism In Japanese history, the role of the military, or to be more precise, militarism has had an overwhelming role in shaping Japan’s world view. Militarism stands for a nation’s strength and should play a dominating role in political as well as social life. The influence of militarism goes back to the days of the Meiji Restoration, known in Japan as the Meiji Ishin or Revolution. This period stretched back to the days of the Tokugawa Shogunate and caused far reaching social changes in Japan of the late 19th century. This was a direct reaction to the arrival of Commodore Matthew Perry’s fleet of American ships on Japanese shores. Commodore Perry forced a treaty – ending 200 years of Japanese insulation in matters of business – enabling trade between Japan and the United States. The Restoration came into being with the Satsuma Choshu Treaty which ultimately led to swearing of complete allegiance of the ruling Shoguns of that time to the Emperor. This was a creed forbidding all defiance to the Emperor (as Japanese history of that period depicts). Most Japanese leaders of that period were of Samurai descent and swore by the codes of the ancient Samurais – loyalty and allegiance to the ruler, dignity and honesty. The Japanese perception of events of that time was that the country’s sovereignty was threatened by outside forces. This justified building up a strong economic and military base to counter such a threat. This tradition continued till the 1800’s when mass conscription to the army and navy was considered an indication of unquestioning loyalty to the Emperor. Part of the reason for the widespread intrusion of militarism through to 1878 was the complete detachment of the forces from civilian society. The Staff commands established by the Imperial Japanese Army and Navy were responsible for formulating all defense strategy and were directly under the command of the Emperor. The Staff Chiefs were therefore under no obligation to the Prime Minister or any form of civilian law, During the Taisho period there was a return to democratic governance when the Washington Naval Treaty was signed and Japan participated in the League of Nations only to crumple with the onset of the Great Economic depression in 1929 when the world economy collapsed and caused trade barriers to be imposed by western nations. This was also coupled with domestic problems at home where several radical groups surfaced and there was even an attempt on the Emperor’s life, in 1932. These distressing events gave rise to patriotic feelings (maybe misplaced) in Japan. Such jingoism saw the military as the only solution to Japan‘s seemingly unending series of crises. The romantic notion that it was time for an Asian resurrection under Japanese rule took root. With the signing of the London Naval Treaty in 1930 by Prime Minister Osachi Hamaguchi and his party, the Navy was severely curbed in influence. This was seen by both the opposition and the military as endangering the country’s security. This whipped up jingoistic sentiment to the extent that Hamaguchi was killed in 1930 and the brief interlude with democratic rule came to an abrupt end. Subsequently, patriotic fervor in Japan gave the military free rein in Asia.[3] This was responsible for Japan’s involvement in several Asian conflicts: the Boxer Rebellion, World War 1, the Russo – Japanese War. The infamous Manchurian Incident of 1931 led to Japanese forces’ take-.over of all Manchuria – to protect Japan’s interests, chiefly Manchurian oil fields. The idea of military expansionism drove Japan into successive conflicts with China. In fact, there even was an attempted coup in Tokyo labeled the ‘Imperial Colors Incident’ which failed but was not made public knowledge. Ultimately, however, the swaggering domination of Japanese militarism failed to establish a dictatorship. The first nails into its coffin were driven by the government of Konoe Fumimaro, when, following wartime priorities his government, through the National Mobilization Law, brought all of Japan’s assets under its purview.   Also, in 1940, the formation of the Imperial Rule Assistance Association led to a single party political rule much discrediting the military.   On February 26, 1936, the rebel officers would hardly have been to foresee all this when they tried to take over Tokyo’s streets and were unleashing a murderous campaign. Until recent times, much romantic lore still surrounded military campaigns which allude to the glory of Japan’s military and Samurai like allegiance to the Emperor. The Emperor still remains a symbol of sovereignty in Japan and is much revered, being treated like a Head of State but is no longer the supreme authority over all Japan’s matters specially armed conflicts. Yukio Mishima spoke about the glory of Japan and the Emperor just before committing suicide inside a military barracks in 1970 and he was a well known literary figure in Japan   who wrote a novella on the February 1936 Incident–   proving that modern Japanese society still retains vestiges of its old fascination for matters martial. The members of the group that was behind the failed coup in 1936 are even being seen by some academics as. These were misguided bunch of young radicals who were only acting for Japan and God. They were not as ruthless as members of Hitler’s army were during the days of the Putsch.[4] February 26, 1936 – It’s Implications Under Koki Hirota’s rule m Japan and China engaged in the biggest war Asia right through 1945 from 1937 onward. The trend of militarism and military aspirations made stronger by the February Incident increased Japanese military aggression in Asian territory mainly to buttress its economic interests. The Second Sino – Japanese War was directly the result of Japanese policy toward China aimed at exploiting its natural reserves like oil.   Equally aggressive was the Chinese stance founded upon a new found realization of the unity of the Chinese people and their right to their own territory. A series of comparatively smaller sized conflicts led to a full scale conflagration. In 1937   The invasion of Manchuria – described above and particularly, the Marco Polo Bridge Incident of 1937 led to the war. Lugou Bridge in China is also known as the Marco Polo Bridge because Marco polo is supposed to have referred to this bridge while on his travels. It was controlled on its west end by the Japanese army and on the East by the Chinese Kuomintang Army. The bridge was a lifeline to Beijing to all areas under the Chinese army’s command – if this bridge fell – Beijing would too.[5] On June 1937, Japanese forces sent a message to the Kuomintang on the western end of the bridge about a missing soldier who might have gone over. They asked to be allowed to carry out a search on the opposite end. The Chinese refused the request acting under orders from their command chain. The Japanese countered this with a threat to open artillery fire if they were not allowed through. The prolonged aftermath saw led to the Japanese finally crushing the Kuomintang resistance and driving on toward Beijing and taking it over following which Japan had assumed control over the North China Plain, a strategically important region. The North China Plain has Beijing to its North East edge and Tianjin , an important industrial center on its North coast, What the Japanese actually did was to set up a ‘puppet’ state called Manchuoko , in Manchuria, installing the last Chinese Emperor   as a figurative head. This region actually prospered and its steel production exceeded Japan’s. Japan even gave up its membership of the League of Nations in 1933 after international protests over the incident but continued with its aggression in Chinese territory. Following the Marco Polo bridge incident, China and Japan engaged in full scale conflict from 1937 till 1945. On December, 1941, the Imperial Japanese Navy launched a full scale attack on the American Fleet docked at Pearl Harbor.   The compulsion of Japanese militarism post the February 1936 Incident and its acquisitive instincts in Asia made Japan very sensitive to the presence of others in the region. Its attack on Pearl Harbor was part of a preventive strategy aimed at halting what its military leaders saw as a build up of American interests in the region. Preventive conflicts have always risen because one or the other side believes that an offensive will result in preventing some projected or future incident. In Japan’s case it was its apprehension that American presence in the region was building up and would result in counter aggression for control over its territories in Asia and the Pacific. Pearl Harbor was the base for the American Naval Fleet and was attacked by almost 6 carriers of the Imperial Japanese Navy.   Waves of air attacks were also launched from the Navy vessels and over 300 aircraft flew over Pearl Harbor and destroyed the standing American fleet of ships. By this attack, America was forced to abandon its position of neutrality and enter into World War 2. For long America   was also building up its armed presence in Indo – China as we; as the East Indies as part of a series of counterbalancing moves aimed at keeping a check on Japanese movement in the region which was aggressively aimed at securing Asia and therefore its supreme position as its leader. Japan. Specifically, the objective of the Pearl Harbor attack was to secure Japanese advances into the East Indies islands and Malaya, both rich sources of oil and rubber. President Roosevelt was conscious of this when he ordered his fleet be strategically stationed in the Philippines region. According to Japanese assumption – a complete halt to American activity in the Pacific region – turned out to be completely wrong and it eventually had to surrender to American troops in 1945 bringing an end to World War II.[6] The Axis Pact In September 1940, Japan entered into a pact also known as the Tripartite Pact, with Fascist Italy and Adolph Hitler’s Nazi Germany which was the official declaration of the Axis Powers against the Allied powers. At the height of their power all 3 members commanded huge territories in Europe and Indo-China. Japan was under Emperor Hirohito and its main objective of signing the Pact was to protect its protect its military and economic bases in the pacific region. When Europe was engaged in its conflict with Germany, Japan insidiously moved into European colonies around the Pacific. America was the only nation to alert to Japanese intentions in this part of the world and countered Japan. Japanese believed that a war with the West was inevitable given its cultural differences but, given its unbridled militarism, Japan’s intentions were also materialistic. However, a certain section of the military leadership believed the conflict was to be aimed at hemming in Soviet Russia. But relations with the USA were also strained with American sponsored embargos on Japan m partly in response to its offensives against China. Japan saw US action against it as an act of western Imperialism and proceeded to band with Germany and Italy through the Tripartite Pact. Japan rushed headlong into its military inspired acquisitions also honed by the oil embargo imposed by the USA, which made it dependent on the resources of other countries. Many in Japan believed the conflict with the Americans could be resolved through negotiations but military leaders insisted on stepping up military offensive in Asia. When Germany was carrying out its Blitzkrieg in Europe m Japan was doing the same in Asia having control over large parts of Asia including Taiwan and Manchuria. But uncontrolled military offensives inevitably end and so did Japan’s end in the Battle of Midway when its fleet was destroyed by American ships.[7] The atom bombs over Hiroshima and Nagasaki preceded by the declaration of war by the Soviet Union broke Japan’s military might forcing it to surrender to America in 1945.   The international War Crimes Tribunal sentenced Japanese military leaders to death. Japan’s militarism blinded it to the might of America’s military might and made it underestimate Chinese resistance. Its territories were taken under American control.   The Japanese also miscalculated the output of the war machinery in America which h outrivaled that of Japan’s. Truly Japan’s military leaders had become complacent and could not realize that they were going through a death wish which was to almost obliterate Japan (the atom bombings) from the face of the Earth.[8] In conclusion it should be stated that one good outcome was Japan’s access to American industrial technology and Japan’s subsequent rise to the world’s major industrial leader. Today, largely because of this Japan is also a technology leader and makes business conquests in place of military ones through its electronics goods ad cars. Japan wages its own internal battles with rising economics problems and unemployment and job cutbacks but the collective Japanese psyche has grown wise to blind nationalism and tries to blend with the world. It now enjoys a stable democracy and single party rule with its armed forces under the command of the prime Minister, Japan has no need for war and a Pacifist constitution has m in fact been built into the Constitution which forces it to renounce aggression and armed conflict .this was bequeathed to it by America after the .defeat of 1945. Japan is well on its way to new millennium bidding goodbye to its aggression and the February Incident will always remain a blot on its history and its pacifist character. Bibliography: Goddard, J; Nation Management: Making the Most Out of It (Christchurch: Howard & Price. 2006) pp 433-5 Gervers, V; Japan at War (Melbourne: HBT Publishers Pvt. Ltd. 2000) pp 167 Knott, P; Analysis of US Wars (Dhaka: Dasgupta & Chatterjee 2005) pp 188-9 Kumar, H; Justice of Winners: Win Some, Lose None (Auckland: HBT & Brooks Ltd. 2005) pp 334 Manning, C S; Principals and Practices of War Industry: Trade of Death (Christchurch: National Book Trust. 2004) pp 279 Powell, M; Anatomy of Modern Crusades: Independence to WWII (Wellington: ABP Ltd 2001) pp 49-53 Prawer, H A; Kingdom of Japan (Dunedin: Allied Publishers 2004) pp 221-5 Tyerman, J; Invention of the Japanese Great War (Dunedin: Allied Publications 2001) pp 233-37 [1] Tyerman, J; Invention of the Japanese Great War (Dunedin: Allied Publications 2001) pp 233-37 [2] Prawer, H A; Kingdom of Japan (Dunedin: Allied Publishers 2004) pp 221-5 [3] Goddard, J; Nation Management: Making the Most Out of It (Christchurch: Howard & Price. 2006) pp 433-5 [4] Gervers, V; Japan at War (Melbourne: HBT Publishers Pvt. Ltd. 2000) pp 167 [5] Manning, C S; Principals and Practices of War Industry: Trade of Death (Christchurch: National Book Trust. 2004) pp 279 [6] Powell, M; Anatomy of Modern Crusades: Independence to WWII (Wellington: ABP Ltd 2001) pp 49-53 [7] Knott, P; Analysis of US Wars (Dhaka: Dasgupta & Chatterjee 2005) pp 188-9 [8] Kumar, H; Justice of Winners: Win Some, Lose None (Auckland: HBT & Brooks Ltd. 2005) pp 334

Use of Real Options Theory in Financial Management/Modeling

At a previous employment environment, the president of the corporation acted on a whim, rather than, conducting a series of testing for his expansion to go into other businesses ventures. Within a few short months, the plan was abandoned for lack of profitability. As an employee, I thought of this as a failure on the owner’s part. However, the Real Options Theory is basically, weighing the outcome for expansion or acquisition utilizing capital investments for future ventures. Consider Real Option theory as a method to remove some of the risk in capital investments. Helpful assistance and decision making can be derived using such charts as the Decision Tree. The decision can be extremely tiresome. Use of Real Options Theory in Financial Management/Modeling Long past are the days, where a company can sit idling waiting for an idea, because while waiting someone else is making the move. The benefits that an older company may experience through experience may not fit into today’s society of technological changes. However, the risk of a company that has existed over 50 years, can they lose to new companies that evolve because of revolutionary changes in the ability to change the course of history. Creating valuable service for consumers and bringing a product or service to market, must be planned to meet the expectations of stockholder profits. Consider the comparison of social networking sites, Myspace and Facebook. Both are considered to be rapidly growing and competitive to increasing in membership. However, rapidly increase the popularity of Facebook and exceeded the expectations within the social network environment. The billion dollar corporation enters the market with more appeal to younger consumer, as well as a variety of other industries. Facebook provided more appeal by allowing the markets to meet the consumer where they were located, rather than wait on the consumer to come to them. As financial managers in the corporate environment decide which project is beneficial to stock holders’, returns on investment, and which should be abandoned or expanded, risk can become a certainty in the outcome. The risk of capital investment in the attempt to take on future debts just because they have a hunch that the business will be a success. The amount of time to construct a business model would save enormous amounts of money before taking on the future project. Gathering data of the competitive market and using past financial accounting statements will be useful, however, with new projects, there will be limitations, but estimation of the percentage values can be constructed. Strategic budgeting and capital investment planning decisions to expand into the future profitability of a company can be agonizing if not properly planned by financial managers. The assets, in addition to capital and distribution, change over long periods of time according to the supply and demand of the consumer markets. The net present value (NPV) of what is available, as far as Return on Assets and the Return on Investment (ROI). Cost projection into buying new equipment, inventory over the long run rather than a short period. Capital resources and budgets are the topics as it relates to using the Real Options Theory in Financial Management Modeling. Financial managers can utilize the Real Options Theory as a series of practical solutions to foresee into the future over several years. New products and the amount of capital to invest as well as the funding needed to make an expansion or either to realize that the project would not work. Theoretically, it is very simple and that many companies would utilize this theory. However, the recap or history of business failures is not seen in the futility of business success. The numbers may not lie. All systems may say go full steam ahead with the plans for expansion; however, there is a business cycle which will prove the business model incorrect. According to Rothbard, (2005), expectation in business fluctuations all the time. There is no need for any special â€Å"cycle theory† to account for them. It is simply the results of changes in economic data and is fully explained by economic theory. Many economists, however, attribute general business depression to â€Å"weaknesses† caused by a â€Å"depression in building† or a â€Å"farm depression. † But declines in specific industries can never ignite a general depression. Shifts in data will cause increases in activity in one field, declines in another. There is nothing here to account for a general business depression — a phenomenon of the true â€Å"business cycle. † It is pointless to say, as many people do, that a farm depression will ignite a general depression, because farmers will buy less goods, the people in industries selling to farmers will buy less, etc. This ignores the fact that people producing the other goods now favored by consumers will prosper; their demands will increase. (2005, pp. 6) Both the entrepreneur and large corporations have ideas to expand into new market. The main goal is company profits, either with or without expansion. Business expansion into other industries or international territories with current business. However great the idea may seem at the Real Options application of theory will conclude how fallible an idea with be in implementation. Payback period, cash flows and internal rate of return, as well as long term debt financing are the foundation of provision for utilizing the real options theory. Major growth will not derive from duplication of products that are already in the market place, but to begin with creating superior quality and improvements. Such as Facebook found a better way for people to communicate over the internet. Before Myspace, there were such things as electronic mail. Facebook, the ability to socialize as well as form groups, and fan pages begin with meager begins on a college campus. However, did the owner plan for this growth or was it happenstance. How does the work into the corporate structure for a welding company or maybe a warehouse which manufactures auto parts? Examining the stream of information within the forums, research and development addressed. According to Ketchen et al, (2007), â€Å"entrepreneurship refers to firms' pursuit of superior performance via simultaneous opportunity-seeking and advantage-seeking activities. Both small and large firms face impediments while pursuing strategic entrepreneurship† (2007, p. 71)In other words, rather an entrepreneur or fortune 500 company, Real Options Theory, should be the focus to starting a new business, taking on expansion or abandoning projects. The only difference will be in the amount of capital investments. Kretchen et al, continues to state, Ketchen, et al, (2007), While small firms' opportunity-seeking skills may be strong, their limited knowledge stocks and lack of market power inhibit their ability to enact the competitive advantages necessary to an appropriate value from opportunities the firms choose to pursue. In contrast, large firms are skilled at establishing ompetitive advantages, but their heavy emphasis on the efficiency of their existing businesses often undermines their ability to continuously explore for additional opportunities. (2007, p. 371) There are many three components in which company financial manager should be interested in the expected return on assets (ROA), return on equity (ROE) and debt ratio. Finally, another method of expansion can be with the acquisition of new business that is in operation. As stated by Stefano, Reality is that buyers must have capital available to be competitive in acqu isition negotiations. Accumulating capital may be as simple as retaining earnings in the agency instead of distributing those earnings, which is the equivalent of creating a war chest. The other option is to have a line of credit available from a financial institution. Banks are much more willing to offer financing for acquisitions than in years past. Today many banks are in the insurance business and got there through acquisitions. Insurers are also very supportive of the acquisition process and will uncover acquisition prospects because they like to see their successful agencies growing. Stefano, 2005) As explained by Childs et al, (Sep. , 1998), summarizes several calculation in deductive and calculated reasoning for financial managerial modeling and utilizing the Real Options Theory. They state, â€Å"consider a firm that has the opportunity to invest in two projects (a and b). Investment in each project takes place in two stages: The firm can invest in C1 R (I = a, b) to develop a project, which res olves uncertainty regarding the project’s future profitability; it can then make a further investment of K1, (i= a, b) to implement a project. 1998, p. 308). It is clearly mentions by Childs et al, the â€Å"NPV framework for making capital investment decisions has been extended to recognize the dynamic nature of investment decisions† (Childs, p. 305) According to Miller who goes into greater details of the formulation of providing computations to make a decision, it basically states if one project NPV is greater than 0, then it would be wise to invest in the project or product. Screenshot, (2005, p. 7) Summary Companies can no longer hesitate to make a business decision. However, ecisions that are not planned out utilizing capital assets can also cause undue hardship. It is no longer the large Fortune 500 companies designing the most innovative products and services, but also it can be the small entrepreneur with a grand idea. The markets no longer persuaded by familiar names, but can be mesmerized by new names such as Facebook. Methodology and theoretical planning and measurements can be experimenting with resourceful application s as Real Options Theory. By carefully measuring the logistics of one or more projects and committing or abandoning them all.