How to Define Acceleration

How to Define Acceleration Acceleration is the rate of change of velocity as a function of time. It is a vector, meaning that it has both magnitude and direction. It is measured in meters per second squared or meters per second (the objects speed or velocity) per second. In calculus terms, acceleration is the second derivative of position concerning time or, alternately, the first derivative of the velocity concerning time. Acceleration- Change in Speed The everyday experience of acceleration is in a vehicle. You step on the accelerator, and the car speeds up as increasing force is applied to the drive train by the engine. But deceleration is also acceleration - the velocity is changing. If you take your foot off the accelerator, the force decreases and velocity is reduced over time. Acceleration, as heard in ads, follows the rule of the change of speed (miles per hour) over time, such as from zero to 60 miles per hour in seven seconds. Units of Acceleration The SI units for acceleration are m / s2(meters per second squared or  meters per second per second). The gal or galileo (Gal) is a unit of acceleration used in gravimetry but is not an SI unit. It is defined as 1 centimeter per second squared. 1 cm/s2 English units for acceleration are feet per second per second,  ft/s2 The standard acceleration due to gravity, or standard gravity  g0 is the gravitational acceleration of an object in a vacuum near the surface of the earth. It combines the effects of gravity and centrifugal acceleration from the rotation of the Earth. Converting Acceleration Units Value m/s2 1 Gal, or cm/s2 0.01 1 ft/s2 0.304800 1 g0 9.80665 Newtons Second Law- Calculating Acceleration The classical mechanics equation for acceleration comes from Newtons Second Law: The sum of the forces (F) on an object of constant mass (m) is equal to mass m multiplied by the objects acceleration (a). F am Therefore, this can be rearranged to define acceleration as: a F/m The result of this equation is that if no forces are acting on an object (F   0), it will not accelerate. Its speed will remain constant. If mass  is added to the object, the acceleration will be lower. If  mass  is removed from the object, its acceleration will be higher. Newtons Second Law is one of the three laws of motion Isaac Newton published in 1687 in  Philosophià ¦ Naturalis Principia Mathematica (Mathematical Principles of Natural Philosophy).   Acceleration and Relativity While Newtons laws of motion apply at speeds we encounter in daily life, once objects are traveling near the speed of light, the rules change. Thats when Einsteins special theory of relativity is more accurate. The special theory of relativity says it takes more force to result in acceleration as an object approaches the speed of light. Eventually, acceleration becomes vanishingly small and the object never quite achieves the speed of light. Under the theory of general relativity, the principle of equivalence says that gravity and acceleration have identical effects. You dont know whether or not you are accelerating unless you can observe without any forces on you, including gravity.

A Quick Guide to Balanced Scorecards

A Quick Guide to Balanced Scorecards Here is an overview of a BSC (balanced scorecards) management tool, its advantages and disadvantages. The Balanced Scorecard (BSC) is a popular strategic management tool developed in 1992 by Robert Kaplan and David Norton to answer what the two researchers saw as a shortcoming in existing strategic planning methods: A way to connect the long-term objectives of a business to short-term performance measures, particularly financial indicators. The problem is easy enough to understand; a company’s overall goals, usually expressed in its Mission Vision Statement, are often somewhat abstract and difficult to express in terms of the day-to-day (or month-to-month, or year-to-year) activities and processes of the organization – it may not be clear to the people in the organization exactly how their work tasks at this moment are steps towards the company’s greater objectives, a bit of confusion that can create problems for maintaining productivity and motivation. The BSC is a way to â€Å"provide a roadmap† showing how to present activities lead to future objectives, and if used correctly, the tool can be very effective. If you have any questions our writers will gladly help you! STRATEGIC MANAGEMENT TOOLS PART 1 Background of the BSC The Fundamental Ideas Behind It Kaplan and Norton first introduced the Balanced Scorecard in an article in the Harvard Business Review in 1992 (â€Å"The Balanced Scorecard – Measures That Drive Performance†, HBR January-February 1992), in which they explained that any firm has four key perspectives from which it should consider its strategy: Financial, Customers, Internal Processes, and Learning and Growth. The firm needs to make money, and for that it needs customers; customers’ needs are served by the output of the firm’s internal processes, and in order to achieve and maintain a competitive advantage, the firm must learn and improve over time. Consequently, the BSC begins with a firm asking itself four important questions: What is our value to our shareholders? (the financial perspective) What is our value to our customers? (the customer perspective) In order to provide the value to our shareholders and customers, in what must we excel? (the internal processes perspective) How do we sustain our advantages and continue to improve? (the learning and growth perspective) The answer to each of these four questions has four parts: A relevant objective or objectives; the measures of performance that appropriately assess progress towards those objectives; the specific target value of the performance measures that would signify the objectives’ having been successfully achieved; and the specific processes or activities that must be done in order to achieve them. In form, the Balanced Scorecard is a four-sided matrix, with the firm’s vision and competitive strategy at its center: The Balanced Scorecard (Source: Kaplan Norton, â€Å"Using the Balanced Scorecard as a Strategic Management System†, HBR, January-February 1996) DIFFERENCE BETWEEN MANAGEMENT AND LEADERSHIP Advantages of the BSC The first advantage of the BSC is that it forces firms to quantify their goals. Aspirations expressed in a Mission Vision Statement such as â€Å"being an empowered organization† is a platitude without some explanation of what â€Å"an empowered organization† is, and how, exactly, the organization can become â€Å"empowered†. Or for that matter, whether or not being â€Å"empowered† actually has anything to do with effectively meeting stakeholders’ and customers’ needs, maintaining sound internal processes to achieve those, and improving the organization to maintain a competitive edge. The second advantage of the BSC is that its format makes it easy to see how all of the strategic management perspectives relate to one another. Conflicts between objectives in different areas are immediately apparent and can be corrected. Perhaps the biggest advantage of the BSC is its versatility. Although it was designed for application in business management settings, the basic template can be applied to almost any initiative or organization. By slightly modifying the four key perspectives, the BSC can even be applied to specific areas of the organization and even to individuals. In fact, there is some research that suggests that the BSC is gaining, even more, use as a performance management and assessment tool in HRM applications than as a firm-level strategic planning tool. Disadvantages of the BSC Like many other strategic management tools, the BSC has one unavoidable potential handicap in that it is only as good as the quality of the information put into it. The tool suffers from the same risk as the SWOT analysis called SWAG (Scientific Wild-Ass Guess) by Oxford’s Professor Malcolm McDonald; the importance of objectives and other factors may be over- or underestimated or overlooked entirely, which leads to the BSC returning poor results because the right information is not actually included. Another problem that can make the BSC less effective than expected is that by design, it gives equal weight to all four of the key perspectives, while in actual practice, many organizations might need to give greater weight to one or another. For example, a non-profit organization would likely have very strong customer perspectives and a lesser focus on financial outcomes; without adjusting the BSC to reflect its priorities, the organization might end up actually hindering its efforts towards achieving its goals. And finally, the results of some empirical research on the effectiveness of the BSC suggests that just as with most strategic management tools, its performance in real-world applications falls a little short of the academic hype. A fairly recent broad study of strategic management tool use and effectiveness found that the BSC tends to work better for larger and more complex firms than for smaller ones, and that the alignment of strategy and performance is perceived to be better among firms that use the BSC in combination with other strategic planning and assessment tools than among firms using the BSC by itself (E.Tapinos, R.G. Dyson M. Meadows, â€Å"Does the Balanced Scorecard make a difference to the strategy development process?† Journal of the Operational Research Society, vol. 62, no. 5, 2011). One reason for this may be that, contrary to the assertions of Kaplan and Norton, the BSC is not actually designed to develop organizational strategy; the firm’s vision an d strategy must necessarily exist beforehand in order for the BSC to work as designed, meaning that the BSC is the best thought of as a performance management and operational planning tool (hence its popularity in HRM practice), rather than a strategic development tool. STRATEGIC MANAGEMENT TOOLS PART 2 Whatever project you are working on, be assured you have a  reliable team  of writers  to work with. You can place your order here!

Dox Thrash - Making Prints of His Real Life Research Paper

Dox Thrash - Making Prints of His Real Life - Research Paper Example Since the art was funded by the government, the art could be used for government purposes. One such artist is Dox Thrash. Defence Worker is one print created by Thrash which will be examined as a relative piece of art of the Depression Era. Another print from Thrash is Boats at Night which is also inspired by social realism will also be looked at. While Thrash was making prints of his real life, the U.S. government took these prints and used them for their own purposes. Defence Worker and Boats at Night by Dox Thrash will be examined in relation to social realism inspired art being used for United States government propaganda. Dox Thrash created both of these prints using a pioneering technique. Thrash had created a new printing technique called carborundum mezzotint.1 Both prints were commissioned by the WPA during the depression. The subjects of these prints were influenced by social realism. The Depression Era made many artists, including Thrash, rethink their perspectives on life and art. Artists begin to think capitalism might not be the best form of government. Kathe Kollwitz was a German artist that dealt with the same issues as Thrash. One of her paintings will be compared to Thrash in order to show how different countries reacted to the situation after World War I. The artists sketched, painted, or carved art reflecting their new views. An analysis of these two works will be undertaken along with a comparison to Kollwitz’s work. Dox Thrash has created two incomparable prints that illustrated the Depression Era, but his art was used as government propaganda in the end. Dox Thrash’s Defense Worker is a male worker. Thrash completed this piece in 1942.2 The worker is using a jackhammer, power sweeper, or some other piece of equipment. The huge male is a worker. This can be determined by the clothes, boots, and helmet the man wears in this print. There is a white billow of steam behind the figure.     Ã‚  

Annotated Bibliography Essay Example | Topics and Well Written Essays - 250 words - 2

Annotated Bibliography - Essay Example This study focused on how team leanring in the context of nursing is impacted if two different methods of leanring were implemented. For this survey a total of 1111 nurses became the part of the population for the research. Through their literature review they exhibit that limited research has taken place on creativity and learning for nurisng teams. The reserachers figured out that various sorts of team leanring activities are taken up by nurisng teams in order to obtain and analyse differnet sorts of information in the context of nursing. There was little impact of the composition of a nursing team on their leanring activities (Holleman, 2009, p.1256). But major impact on team learning activities was made by various contextual factors. Activities of team learning that focused on how nursing care hsould be conducted positively impacted the implemnetation phase of innovative training methods. This research study can be used to explain what kind of trainings have proven to be benefici al for nursing teams. Holleman, G., Poot, E., Mintjes-de, G. J., & van, A. T. (September 01, 2009). The relevance of team characteristics and team directed strategies in the implementation of nursing innovations: A literature review. International Journal of Nursing Studies, 46, 9,

Investment in Gold and its effect on the society Essay Example for Free

Investment in Gold and its effect on the society Essay Gold is the most popular form of investment of all the precious metals. Many investors in the contemporary society prefer to buy gold as protection against crisis that may emanate from changes in the political, economic, social or financial systems in the society. Political economy has great impact on the economic development of a country because of the interaction between the economy and the society . For instance, a crisis may be caused by political instability triggered by social unrest or war, decline in market investment, inflation, currency failure and burgeoning of a national debt. The popularity of gold in investment has resulted to the establishment of a gold standard. The term â€Å"gold standard† refers to a monetary system whereby the standard economic unit of an account is defined by a certain fixed weight of gold. Investment in gold can have negative and positive impact on the society. This paper will discuss the issue of investment in gold and how it affects the society. Issues that will be addressed include how and why gold serves as money in the monetary system. In addition, how tightly the gold is tied to the movement of money as well as the ancient history and legends on gold will be covered. Discussion Importance of gold in the World Monetary system The human lust for gold has been witnessed since the existence of ancient races and civilizations. Throughout history, gold has always been used as a relative standard for currency and a form of payment. Ancient civilizations used gold coins as money because of their high value and lack of paper money. However, even after the introduction of paper money, the significance of gold in the monetary system remained. In the late nineteenth century, gold standards were introduced in various European nations. However, the gold standards were affected by a financial crisis that was witnessed during the First World War. During the war, the US and Great Britain were some of the countries that suspended the strict Gold Standard but Great Britain returned to the gold bullion standard in 1925. The significance of gold in the monetary system increased after the World War II when gold was pegged to the US dollar by the Bretton Woods system. Back then, the US dollar value to the gold was pegged at the rate of $35 per troy ounce. The system was eliminated after 1971 when the US made unilateral suspension of direct convertibility of the US dollar to gold. Trading in gold has maintained its importance in replacing money. In the US, the important role of gold was evident in 1975 when trading in gold for delivery was done in New York Commodity Exchange and Chicago International Monetary Market in 1975 . In 1980, the International Monetary Fund (IMF) sold about one third of its gold holdings and in 1986, the American Eagle Gold Bullion coin was introduced by the US Mint. Over the years, gold has maintained its high value and significance in the world monetary system in the contemporary society. Currently, gold continues to be traded across the globe on the basis of intra-day sport price which is derived from gold trading that occurs through the counter in gold-trading markets. The high demand and supply of gold drives the price of gold just like in other many investments. However, disposal and hoarding of gold affects its price in the market because there is more gold that exists to be supplied in the market for the right price. For centuries, gold has been the foundation of monetary systems hence as an investment is considered to be very critical in the global monetary system. This is because it does not generate income hence its intrinsic value is measured based on the Central Bank International Monetary Reserves. Many governments acknowledge the significance of gold in stabilizing the economy . For example, the end of British Gold standard in 1914 paved way for the World War I inflationary financing. The end of the monetary inflation in 1921 on the other hand resulted to stability in the United Kingdom and the United States. This stability resulted to positive effects on rising Bonds and Equity market prices and interest rates. Due to the need to maintain the role of gold in the economy, the Bretton Woods in 1944 ratified the US Gold Exchange Standard of 1935 . Central banks in various influence the gold price and countries can limit gold sales. For example, 1999, limitation of gold sales by the members of the Washington on Gold (WAG) who included Japan, Europe, US, Australia, the IMF and International Settlements was done. The countries limited gold sale to less than 400 tones per annum. Due to the high value of gold and its importance in the monetary system, ancient history and legends have confirmed how important gold has been for centuries. For example, ancient stories have pointed out that the Europeans believed that there was a place of immense wealth that was referred to as El Dorado due to the presence of gold in the place. As a result, many people made efforts to search for the place to get the gold. However, it has never been confirmed whether this place exists or not. In addition, during the Egyptian civilization period, the people used to bury great amounts of gold together with dead pharaohs in belief that they would use the gold in the afterlife. Just like the ancient civilizations, many countries are now interested in increasing their gold reserves as protection in case of a financial crisis. As a result, the countries make efforts to improve the returns of the official gold reserves. The modern world monetary system is founded on gold that has been held by the Central Banks and in the Treasury. Gold is considered to be equal to money due to its importance in the Gold Standard . The three gold standards that are used in the monetary system include the gold specific standard, the gold exchanged standard and the gold bullion standard . A Gold Standard ensures that the public can prevent governments from pursuing destabilizing monetary policies through escape Asset and Debt deflation or Fiscal profligacy. The holdings of gold at the market price by the World Central Bank constitute part of the World International Monetary Reserves(IMRs) upon which the World monetary system is based. Measurement of changes in IMR defines whether there is expansion or contraction of the World Central Bank Monetary Base. In 1944 at the time of the Bretton Woods agreement, gold accounted for about 90 per cent of the consolidated World Central Bank Monetary Reserve and because the United States owned about 90 per cent of the Central Bank gold, the dollar managed to become the International monetary system key currency. Gold has real money value because its value is not affected by changes in the economy or control by the government economic policies. Ancient civilizations recognized the importance of gold hence they had many prisoners of war work in gold mines in search for the gold. In 4000 BC, Eastern Europe began using gold to make fashion and decorative objects and by 1200 BC, Egyptians were beating gold to extend its use in the society. They even combined it with the other metals to create alloys and also use it for the lox-wax technique. In 550 Scathe Greeks mined gold in the Middle East and the Mediterranean and used it foe art and in the monetary system. In 344 BC, Alexander the Great is believed to have crossed the Hellespont carrying vast quantities of gold he had acquired from the Persian Empire. According to the Greek mythology, in 1550 BC, the King of Mycenae who led the Greek expedition to Troy had worn a gold funerary mask. The Romans also mined and used gold which they sometimes sought in the water streams . By 50 BC, the Romans were able to issue a gold coin known as Aureas. The value of gold in the society remained over the years and in 1299AD, Marco Polo wrote about gold that he had seen in his travels to the Far East. In 1903AD, the Gold Standard Act in the US was officially established and enabled the US to maintain a fixed exchange rate as compared to other nations. This ancient history of gold confirms how important gold has been to the society for many centuries as a monetary value and for other applications. Investment in gold Investment in gold is very vital in economic growth and stabilization of the economy . Research studies that have been carried out in the economic confirm that the economy and the wider society interact . Gold is considered to have great value as compared to other precious metals that are mined and used in the society. The significance of gold in relation to the world monetary system makes investment in gold an excellent long-term means of saving and protecting wealth from negative economic forces. Initially, gold coins were used as money when paper money had not been introduced in the economy. However, the introduction of paper money made the carrying of bank notes that were more divisible and lighter than the heavy gold coins more convenient. This case was witnessed in the US during the 1930s Great Depression when President Roosevelt advocated against the use of gold. Gold is also very important when there are negative or low real interest rates. This is because the demand for gold is increased when real estate equity and return on bonds are not adequate to compensate for risk and inflation. For instance, during the 1970s when economic changes resulted from stagflation that led to an economic bubble. In cases where national crisis is experienced as a result of looting, invasion, war or crisis, many investors are concerned about the seizing of the assets and the reduction in currency worth. In efforts to maintain the currency worth, the investors therefore consider gold to be a solid asset and a good form of investment. Investors have taken advantage of the relation between gold and money by investing in various ways. Many investors in gold as well as the economists agree that gold has become the world’s ultimate dollar hedge investment. Investors can invest in gold is various ways . For example, investment in gold can be done through direct ownership, Gold Exchange-Traded Funds(ETFs),gold mutual funds, junior gold stocks and gold options. In direct ownership form of investment, the gold bullion is very important hence the investors who choose to invest in gold through direct ownership enjoy permanent high value of gold. The Gold-Exchange Traded Funds (ETFs) refer to the mutual fund that trade on stock like ordinary stock. In the United States, the two gold ETFs that trade hold onto the gold bullion. On the other hand, the gold mutual funds allow investors to invest where the funds hold portfolios of gold stocks of companies that mine gold while the junior gold stocks are preferred by the investors whose risk of tolerance is broader. The investors hence accept the possibility of gold-based losses. The gold options form of investment is used by the experienced and the sophisticated investors due to the element of speculation in gold prices. Investment in gold can also be done through the purchase of bullion gold bars. In many countries, the billion gold bars are usually sold over the counter in the countries’ major banks. In addition, the gold bullion dealers provide investors with an opportunity to purchase the bars which differ in sizes. As difficulties in storing, verifying and storing pure gold increase, investors now find it easy to invest in gold though a gold account. Because gold bars are easier to store, they are often sold as kilo bars. Investment in gold is also done by buying gold coins and this enables one to hold the monetary value through gold. Examples of banks that sell and buy gold counts over the counter include the Liechtenstein and Swiss banks. The American Eagle billion coin is the most popular gold coin that has been used for hundreds of years. These coins have a stated amount of pure gold made from the denominations that are provided by the treasury. The Gold exchanged traded funds are sold or bought as shares on the major stock exchanges in Sydney, New York and London. For those who investors in gold through the gold billion, a certificate of ownership is held. These certificates enable various investors to sell or buy security without the inconvenience that may be associated with actual physical gold transfer. Gold certificates were first issued to customers in England and Netherlands in the seventeen century in order to allow the investors/ customers to keep the gold bullion safe through the certificates.

Plot Overview of Death of a Salesman by Arthur Miller :: Death of a Salesman Arthur Miller Essays

Plot Overview of Death of a Salesman by Arthur Miller As a flute melody plays, Willy Loman returns to his home in Brooklyn one night, exhausted from a failed sales trip. His wife, Linda, tries to persuade him to ask his boss, Howard Wagner, to let him work in New York so that he won't have to travel. Willy says that he will talk to Howard the next day. Willy complains that Biff, his older son who has come back home to visit, has yet to make something of himself. Linda scolds Willy for being so critical, and Willy goes to the kitchen for a snack. As Willy talks to himself in the kitchen, Biff and his younger brother, Happy, who is also visiting, reminisce about their adolescence and discuss their father's babbling, which often includes criticism of Biff's failure to live up to Willy's expectations. As Biff and Happy, dissatisfied with their lives, fantasize about buying a ranch out West, Willy becomes immersed in a daydream. He praises his sons, now younger, who are washing his car. The young Biff, a high school football star, and the young Happy appear. They interact affectionately with their father, who has just returned from a business trip. Willy confides in Biff and Happy that he is going to open his own business one day, bigger than that owned by his neighbor, Charley. Charley's son, Bernard, enters looking for Biff, who must study for math class in order to avoid failing. Willy points out to his sons that although Bernard is smart, he is not "well liked," which will hurt him in the long run. A younger Linda enters, and the boys leave to do some chores. Willy boasts of a phenomenally successful sales trip, but Linda coaxes him into revealing that his trip was actually only meagerly successful. Willy complains that he soon won't be able to make all of the payments on their appliances and car. He complains that people don't like him and that he's not good at his job. As Linda consoles him, he hears the laughter of his mistress. He approaches The Woman, who is still laughing, and engages in another reminiscent daydream. Willy and The Woman flirt, and she thanks him for giving him stockings. The Woman disappears, and Willy fades back into his prior daydream, in the kitchen. Linda, now mending stockings, reassures him. He scolds her mending and orders her to throw the stockings out.

Porters Five Forces analysis of Ford Motor Company Essay

Traditionally ‘maximizing’ profits has been considered to be the objective of any company. Not any more†¦.This criteria has now been discarded. Now companies are supposed to have multiple objectives, monetary as well as non-monetary. There are short-term objectives as well as long-term ones. Strategists are supposed to prioritize all such objectives, keep an eye on the competitors and government policies, so that there is clarity and ease of decision making in situations where there is an apparent clash of objectives. While planning for long term objectives, the company is supposed to remain competitive. It was in 1974 that Michael Porter, who had been working on a new sub-field of economics known as Industrial Organization (IO), prepared a ‘‘Note on the structural analysis of industries’’ which is considered to be the idea behind the five forces model of Porter in subsequent years (Karagiannopoulos et al, 2005). In 1980, he published his first book, Competitive Strategy, which owed much of its success to the ‘‘five forces’’ framework, that this paper focuses on (Porter, 1980). This framework has since been regarded as a strategic tool to figure out the relative strengths of a company, and decide about the possible strategic policies that a company can adopt to make way for a long term survival. The company can acquire competitive advantage on its rivals on account of marketing efforts, brand building, value creation, innovation, operational efficiencies etc. But more important is to sustain the advantage, for which the company will have to take care and devise adequate policies for its customers, suppliers, competitors and other stake holders. The five forces, defined by Porter include; Bargaining Power of Suppliers i.e. to what extent suppliers can have an influence on the policy making of the company. Suppliers play an important part in making quality propositions for the company. The process of value creation encompasses managing quality in the entire chain of processes leading to the production of final product or service. Bargaining Power of Customers i.e. to what extent the customers can affect the policy making and fortunes of the company. Customers are indeed the key ingredients for a company, but the company’s profitability depends upon to what extent customers are willing to pay for the product. Threat of New Entrants often limits the diversification policies of a company. Depending upon such a threat the company decides whether to go it all alone or take the route of merger and acquisition. Such a threat of new entrants often results in a sense of urgency for the company. Threat of Substitute products often leads to steps like enlargement of portfolio, enhancement of quality, reduction in prices etc. Competitive Rivalry between Existing Players makes an interesting copy for newspapers and mainline media, as they thrive on the competitive rivalry and the steps and counter-steps being adopted by the competing companies. The level of competition greatly affects the earning potential of the company. In case of Ford Motors Company the Five Competitive Forces can be typically described as follows: Bargaining Power of Suppliers: ‘Suppliers’ comprises all sources for inputs that are needed in order to provide goods or services. Ford is one of the Big Three manufacturing companies in the US with its range of automobiles selling in over 200 markets across six continents. Since the company has manufacturing facilities at more than one place, so the suppliers profile too varies from one place to another. The suppliers too can be categorized in different categories like; Metal/ Body part suppliers: Such suppliers are often not found to be too much of a threat for the company, as there is good amount of rivalry amongst such companies as well. IT/ITES suppliers: The modern cars require a range of technologically advanced features which determine the quality and other distinctive features of the car. Therefore, such companies are in need of regular research and development mode depending upon the requirements of the car manufacturer. For example Sony Corp.’s is one of the suppliers for Ford offering Sony-branded audio systems in Ford and Mercury vehicles. Engine and auto part suppliers: Such companies too hold a good amount of leverage over the car manufacturer. For example, Ford has signed an agreement with Neapco, an affiliate of China’s auto parts supplier Wanxiang Group, to sell its Automotive Components Holding unit’s propshaft operations. In a market where speed to market is extremely vital for beating the competition, Ford’s dependency for such key components on its associate companies with whom it has long term agreements will of course help in warding off any appreciable threat from the supplier side. Ford has been able to maintain good working relations with its suppliers is evident from the statement of Alan R. Mulally, President and Chief Executive Officer of Ford during the company’s 2006 annual report when he sought to highlight the outstanding supplier, dealer and union partners (Datamonitor, 2007). Bargaining Power of Customers: Customers of course have plenty of options in the market place. And the customer will weigh all his options before going in for the purchase. Therefore Ford needs to be innovative and rely more on product differentiation. Though Ford has been catering to different customer segments in different measure, but of late the customer seems to have becoming very demanding and asking to have quality product at cheapest possible prices. In fact that includes the desire of having the best mileage providing car. Other car manufactures like GM, Toyota, Rolls Royce threaten to take away its monopoly over the luxury cars with their own version of sleek cars. Threat of New Entrants: Though it is not easy for new entrant to enter the Car and automobile industry as it is a capital intensive business as the economies of scale (minimum size requirements for profitable operations) leaves little room for a new start up company challenging the existing market share, yet the threat emanates from the existing competitors. For example the recent acquisition of Jaguar and Land Rover by an Indian car company presents some idea of the future threat emanating from the developing world. Till now, companies from West and the developed world used to dictate the policies and used to acquire companies from the developing part of the world, but the emergence of India and China on the horizon as strong contenders appears to have tilted the balance somewhat in their favor. Tata, an Indian car manufacturing company, is in the final stages of sealing the deal with Ford. Threat of Substitutes: A car’s substitute exists in the form of another car. For example a SUV can be a substitute for an MUV, a mid size car can be a substitute for a small size car etc. Therefore, the threat from substitutes exists if there are alternative products with lower prices and with better performance parameters for the same purpose. Ford faces aggressive competition in all areas of its business. The market design, manufacture, and sale of Cars and related peripheral products has become highly competitive. Moreover this market continues to be characterized by rapid technological advances in both hardware and software development, which results increasing the capabilities of existing products and software. This is resulting is the frequent introduction of new models with much reduced prices and better feature, and performance. Ford needs to keep its R&D activities in motion all the time. Competitive Rivalry between Existing Players: The car industry is indeed one of the most competitive industries in modern times. With the purchasing power of the consumer on the rise thanks to the globalization and liberalization era, which has tremendously boosted the earning potential of the professionals, particularly in the field so of IT and ITES. Car manufactures have been targeting this very segment with all the resources at its command. The profile of existing players keeps varying with the kind of market that is looked at. For example in US and most of the western part big manufactures alike GM, Rolls Royce, Toyota are the brands that Ford will have to contend with, while in Asia pacific region the local players have a key role. References: Karagiannopoulos, G.D.; Georgopoulos N. and Nikolopoulos K. (2005). ‘Fathoming Porter’s five forces model in the internet era’. VOL. 7 NO. 6 2005, pp. 66-76, Emerald Group Publishing Limited, ISSN 1463-6697. Porter, M.E. (1980), Competitive Strategy, Free Press, New York, NY. Datamonitor (2007). Ford Motor Company-Company Profile. Datamonitor Americas, NY