Illegal Immigration and The Cost to US Citizens Essay

Illegal Immigration and The Cost to US Citizens - Essay Example mmigration in the United States and would provide with both the view points on it concluding as to if it should be stopped or not (Illegal immigration). It was found that the number of illegal immigrants residing in the United States were almost 10.8 million in January 2009 (Reuters 2010) Most of these immigrants belonged to Latin America, Mexico, and Central America. These immigrants have crossed borders illegally through different ways to enter USA. Most of them enter USA to earn a better living there as it is a developed country. The proponents of illegal immigration believe that they have a positive effect on the economy of the United States as these immigrants tend to work a lot for the service sector. A report known as Perryman report of 2008 found that these illegal immigrants were adding up to $245 billion to the GDP of United States. These proponents believe that it is because of these illegal immigrants that the service sector of United States is booming. The wages that the illegal workers take from their employers is quite less as compared to the wages written in the constitution and this is because it gives an edge to em ployers. The proponents believe that illegal immigration can create a lot of jobs which naturally other citizens of United States would not be willing to take. It is because of their courtesy that all the sectors of the United States are working in an organized manner. However all these views are opposed by the opponents of illegal immigration as they believe the opposite of what the proponents believe (FOX NEWS 2010; Illegal Immigration). The opponents of illegal immigration argue that these immigrants are taking the rights of the citizens of United States and are depriving them of the basic necessities as laid down in the constitution. The jobs taken up by the illegal immigrants in United States can be taken up by legal citizens if they are given the chance. The opponents not only lay down the problems of economy because of these

Responsibility of a Critical Thinker in a Contemporary Society Research Paper

Responsibility of a Critical Thinker in a Contemporary Society - Research Paper Example The responsibility and roles of a critical thinker in a contemporary Society is majorly to sparks, re-energizes and invigorate the change nucleus or focus in the outlined society highlighting on various segment that need change and providing timely change as treated relevant to the discipline. They question the relevance of doing things in the traditional or conventional mode. Every sector has established professionals with in-depth knowledge regarding the segment, but that does not mean that an unqualified person cannot question. Realization of moral reasoning, an entailed and research-based for search of truth and corresponding quest for entailed data gathering of information technology is highly imperative. Various models of thinking are either disregarding established model in the society or blindly following the wrong route. For instance, there are established fallacies like appeal to tradition, which may compel the father to control the household wrongly believing that traditions empower him. Such traditions are subject to control since they fail to avail the exact picture required in contemporary life. Fathers are human beings, and their findings and decisions can be challenged by the children or even the mother in the house (Platzer, Blake & Ashford, 2000). Clear review of issues with concerns on whether they contribute to a positive development o f the society or they lower the standards expected. Reorganization of most households is in dire need of a transformative model to change the current system into positive and encouraging models. Violence, depressions and physical abuse are quite inherent in most households, and suicides are also common cases while focusing on the mainframe family issue. Immigration comes in handy with numerous evils and notable perils on immigrant’s lives. Other social ills propagated by absence of critical in the

Market Analysis for 3D Printer

Market Analysis for 3D Printer Market Analysis Target Market 3-D printing is the process of creating three-dimensional solid objects from digital models. Our 3D printer specializes in manufacturing circuit motherboards and chips. In general all technology-based industries are our target market. Our prime target market is computer companies like Apple, Dell, HP, Toshiba, etc. and Smart phone companies like Blackberry, Samsung, Apple, Nokia, LG, etc. Hence there is a wide market demand for 3D printers due to its unique features. Motherboards and circuit chips are essential for the design of most technology-based instruments. Industries designing and involved in systems engineering of these instruments acquire them from various companies. Foxconn, Gigabyte Technology, Gumstix, IBM and Intel are some of the market leaders in the motherboard and Integrated circuit chips manufacturing business. Support services The circuit models to be printed generally need to be in a format supported by the printer. Formats such as layouts from AWR design environment and Simulink are currently the two formats being supported by the printer. The two are the most popular design environments for contemporary engineers. The design engineers of the customer company will be provided will all the necessary support. Support will be provided in the following ways: Training sessions for design engineers to convert to supported circuit layout format Training on general maintenance of printer Free layout conversion support for the first six months for for formats different from AWR and Simulink Provide specialized design engineers for companies Market growth 3D printers are quite novel. The current businesses based on 3D printing have blossomed, such as Shapeways. They have uploaded around 100, 000 new products for printing every month in 2013. http://www.shapeways.com/blog/archives/2394-2013-shapeways-3d-printing-year-in-review.html The growth of the use of 3D printing can also be noted from exponential upward increase in number of 3D printable items in Thingiverse, which is an open-source design repository. Figure 1 is the outcome of the analysis achieved by a partnership of the Economist and IBM Figure 1: Growth of open-source design repositories http://on3dprinting.com/tag/industry/ The statistics discussed above clearly portray the rapid growth in use of 3D printers in general. Market Trend Many major companies currently are using 3D printers. Some of them include Boeing, Ford, Nike, General electric and Cochlear. Boeing for example uses them for making airline parts. The 787 Dreamliner has around 30 3D printed parts. http://www.techrepublic.com/article/3d-printing-10-companies-using-it-in-ground-breaking-ways/ These examples portray the trend in shifting to 3D printing instead of traditional manufacturing techniques. Due to the rapid development in 3D printing, the technology is expected to mature in the coming years into a cost effective approach for electronics industry. Market evolution As it can be seen from the market trend section, many companies are now using 3D printers for manufacturing. The market is expected to evolve dramatically if the cost of mass production can be somehow reduced. Some of 3D printers advantages: It will be faster and cheaper than the usual prototyping methods. Its Greater ability to customize products. It will be able to perform at uni-stage process, which saves the cost of tools. It will help in producing motherboards and circuit chips which more easily than traditional methods of manufacturing them. Competitor reaction The metals 3-D printing space: 3D Systems Corp., ExOne Co., and Arcam:Some companies which use 3-D printing systems that can print in metals are 3D Systems Corp, ExOne and Arcam. ExOne offers sytems which will be able to print in metals, sand, glass. Companies like this will be able to produce 3D printed motherboards and circuit chips when they see our product, since they are already capable in producing in metals. High completion between these companies will cause the cost of the 3D circuit chips and motherboards to fall. Since Smart phones and computers will benefit highly from the 3D motherboards and circuit chips, Smart phone and computer companies might even subsidies companies producing 3D circuit chips and motherboards. Business plan template:http://www.business.gov.au/Howtoguides/Thinkingofstartingabusiness/Whatplanningtoolscanhelpme/Pages/Businessplanguidesandtemplates.aspx Marketing Plan Product Our product is a novel 3d printing technology that prints Motherboards and Integrated circuits. Next dimension’s 3d printers can be used for manufacturing and also prototyping. Design engineers can simulate the circuit models and generate circuit layouts. These layouts can then be used to print out the circuit directly. The printed circuits can be used tested for different required specifications. Pricing strategy The pricing strategy involved thorough analysis of the present 3D printer market. Although our product is a novel 3D printer, we strive to offer the best value for money for our printer. Potential competitors such as Stratasys have printers ranging from $15, 000 to $75, 000. Production printers provided by them are $50, 000 and above. Our printers will cost $42, 000 and provide the exceptional novel technology of printing Integrated Circuit chips and Motherboards. http://www.stratasys.com/resources/~/media/970DE4A9F3134110817C731796C5CA5E.pdf Advertising promotional strategy Planned promotion /advertising type Expected business improvement Cost ($) Online Advertising Online advertising allows more customers worldwide to know about the product compared to traditional advertising. Internet advertising is ideal for businesses with a national or international target market and large-scale distribution capabilities It is more cost effective and less time consuming. 5000 Print media advertising Newspapers and magazines are abundant in supply and these will create greater exposure and better and frequent advertisement. Compared to other media advertisements, print ads are less intrusive. Passive processes such as listening to radio and watching television may or may not compel attention. Whereas a person makes a concious decision to engage to the images and words of a newspaper 15000 Mail out It is highly measureable which helps companies to measure the result of advertising campaigns. It is more tangible than other forms of advertising. 4000 Social media campaign It is the most cost effective way to promote a brand or a product and spread its advertisement through the internet or media. The amount of information that can be provided is much greater than in any other form of communication. One of the defining characteristics of socal media advertising is interactivity. We will have official accounts on Twitter, Google+, Facebook, youtube and our own forum for consultation. We aim to monitor social networks and answer customer queries. This will also allow us to have an understanding of our state in the market. Information and analyses from these networks will be sent to our management team so that we can improve our services continually. NA Sales distribution channels Channel type Percentage of sales (%) Advantages Disadvantages Internet 75 Greater degree of freedom for customers. Supplier saves time and cost of distribution of their products. They are also able to interact in a massively growing market. Automatic marketing sales and delivery makes the marketing a lot easier and quicker. Online sales also allow instant feedback on new changes. The marketing costs are relatively lower and better targeting. Promotional strategies can be specifically aimed at potential customers. The internet allows impersonal interaction between seller and the buyer since not enough communication. Online fraud can happen which means loss of money for both the consumer and the producer. When the website goes down, company loses out on payment transactions which means less profit for the company. It is not always easy to have a team of staff who are efficient enough to manage the website. Wholesale 15 Since products are bought in bulk and at a cheaper rate there is higher profit margin. It requires a large amount of money buying wholesale products. Since manufacturers require minimum order quantity in order for you to take advantage of the wholesale price, you need to shell out a large amount of capital. Shop front 10 (initially) We will start off with a store in Sydney and keep expanding. 3D printing concept is still quite new and allowing our customer to have a first hand experience of how the process works will do wonders. Design engineers will be present from time to time to also conduct talks on the layout generation process. The cost side of this attempt is a drawback. We do not expect to generate enough sales through this channel to make it profitable initially. However we believe that starting up a business with a shop front will be profitable in the long run.

Is Formal Schooling Necessary for Children to Develop Cognitively :: essays papers

Is Formal Schooling Necessary for Children to Develop Cognitively The choices parents have today on how and where to educate their children has expanded compared to many years ago. There is your neighborhood school, a private school, a charter school or another option, which is growing in popularity--home schooling. Studies show many advantages to home schooling. One being that it is not necessary for a child to attend a formal schooling to develop cognitively. The popularity of home schooling under goes much criticism. Some educators say children that are home schooled are receiving gaps in their student learning because parents may not be qualified to provide well-rounded education. Studies show that home schooled children excel in there studies. Developing (cognitively) as good if not better then children in a formal schooling setting. In the 1950's, there were approximately 15,000 persons home schooling. These figures are a "guesstimate" as many people just kept their children at home without reporting to the state. Most people home schooled for religious reasons; some were prosecuted, even jailed. Today every state recognizes the right to school your own children. States set their own regulations and conditions, hence different laws for each state. Today because of better record keeping the estimate of home schoolers is nearing 2 million. The reasons given today for home schooling are varied from religious, political, philosophical, and dissatisfaction with public schools. Teaching and cognitive development outside of school does not have to resemble teaching and cognitive development in school. Cultural experience can be the basis for development at home and in one's community throughout one's compulsory school years. People can successfully do things differently than schools. For example, it has been widely publicized in America that adolescent girls' self-esteem fades in high school, but in a book about home schooled adolescent girls the opposite was found: If one has thought seriously about the structure and assumptions of compulsory schooling, it is hard to read the psychological literature that asks, "How can we get girls to identify with their own goals?" or even "How can we help girls to discover their real interests?" without thinking about the fact that school is in direct opposition to these concerns... ...People in school do not say to students, "What can we do for you?

Explain the Sequence and Rate of Each Aspect of Development That Would Normally Be Expected in Children and Young People from Birth to 19 Years Old?

|Name |Mickala | |Date of Plan |27. 03. 13 | |Assessor |Shahnaz Scully | |Qualification |Level 5 Diploma – Management Pathway | Units |Assessment & Feedback Plan | | | | | |Hello Mickala | |MU5. |This plan will guide you through this unit which I am sure will expand on your existing knowledge and | |Understand children and |understanding of how children and young people develop between the ages of birth to 19 years. Within this | |young person’s development|unit you will also be looking the actions you should take if there are differences, and also what the | | |potential effects of transitions could be on children’s development. | |This is a knowledge based unit and therefore I suggest that you use a variety of research material so that you| | |are able to address the assessment criteria for this unit. A good starting point will be the LASER lessons | | |which include activities and suitable reading material if you wish to reinforce your learning and to gai n | | |extra knowledge. | | | | |Explain the sequence and rate of each aspect of development that would normally be expected in children and | | |young people from birth -19years. (chart attached) | | |Explain different theories (for example cognitive, sychoanalytic, humanist, social learning, operant | | |conditioning, and behaviourist) and frameworks including social pedagogy that support the development of | |MU52. 11 |children and young people. MU53. 11 | | |Explain the potential impact on your provision of different theories, approaches and frameworks and how they | | |influence current practice.Give examples please of how these are used in your setting. MU53. 12 | | |Critically analyse the move towards outcome based services for children and young people. MU53. 13 | | | | | |Analyse the difference between sequence of development and rate of development and why the distinction is | | |important. | | | | | | | |Analyse the reasons why children and young people’s develop ment may not follow the pattern normally expected. | | | | | |Analyse how children and young people’s development is influenced by a range of personal factors which include| | |health status, disability, sensory impairment and learning difficulties. | | | | |Analyse how children and young people’s development is influenced by a range of external factors including | | |poverty and deprivation, family environment and background, personal choices, looked after/care status and | | |education | | | | | |Analyse the importance of early identification of development delay | |MU52. 23 | | | |Explain the potential risks of late recognition of development delay. Can you give any examples from your | | |practice? | | | | |Evaluate how multi agency teams work together to support all aspect of development in children and young | | |people. Again if you have had any experience of this please use it in your evidence | | | | | |Explain how play and leisure activities can be used t o support all aspects of development of children and | |MU52. 12 |young people.Please give examples from your setting. | | | | | |Explain how different types of transitions can affect children and young people’s development. Again please | | |write about how you deal with transitions in your setting to add to your evidence. | | | | |MU52. 13 |Explain the importance of children and young people having positive relationships through periods of | | |transition. | | | | |Evaluate the effectiveness of positive relationships on children and young people’s development | |MU52. 21 | | | |Explain different methods of assessing, recording and monitoring children and young people’s development. The | | |methods include assessment frameworks, observation, standard measurements and information from carers and | | |colleagues. | | | | |MU52. 2 | | | | | | |Explain how and in what circumstances different methods are used for assessing, recording and monitoring | | |children and young people’s development in the work setting. Please include as many different methods as you | | |can. | | | | |MU52. 31 |Explain how different types of interventions can promote positive outcomes for children and young people where| | |development is not following the pattern normally expected. | | | | |Evaluate the importance of accurate documentation regarding the development of children and young people | |MU52. 32 | | | |Submission date: 15. 04. 13 | | | | | |Best wishes, | |MU52. 3 |Shahnaz | | |07920 427 284 | | | | | | | | | | |MU52. 34 | | | | | | | | | | | | | |MU52. 41 | | | | | | | | | | | | | | |MU52. 2 | | | | | | | | | | | |MU52. 43 | | | | | | | | | | | |MU52. 1 | | | | | | | | | | | | | | | | | | | | | | | | | | |MU52. 52 | | | | | | | | | | | | | | | | |MU52. 53 | | | | | | | | | | | | | | |MU52. 54 | |

Porter Five Forces Assist an Organisation in Their Strategic Planning

How does Porters Five Forces Model assist an organisation in their strategic planning? Before understanding â€Å"how† we must know â€Å"what† Porters Five Forces model really is (Michael E. Porter, 2008). Company strive to secure a competitive advantage over their rivals, I mean who doesn’t want to be the best? Although the intensity of rivalry varies within each industry and these differences can be important in the development of strategy, but rather the five forces (Porter, 2008) being a strategy of any sort, it acts a framework in securing a strategy.The only time where strategy is irrelevant, would be when you have no competitors where ultimately the environment is a monopoly, or when you have a ton of money to throw around and waste. But having said that, it is not likely at all. Without framework, strategy will inevitably collapse, as they both come hand in hand. Thus a chain arises as the five forces (Porter, 2008) acts as a framework in assisting an or ganisation in their strategic planning, where strategic planning leads to a competitive advantage over their competitors which then leads to ultimate success of the company.Before proceeding to the question at hand on how Porters Five Forces can assist an organisation in their strategic planning, first we have to know two things, what are the Five Forces that Porter (2008) proposed, and ultimately what strategy really means? To ease this journey, let’s start with the Five Forces (Porter, 2008).Before any company enters a certain market, one must first analyse the competitive nature of the market, and this is exactly what the Five Forces (2008) aids to do, to provide a framework to determine the intensity of competition within an industry where three of the five competitive forces comes from an external sources, and the remainder coming from an internal sources. These external sources includes: Threat of potential entrants, threat of potential substitutes and rivalry of existi ng firms in the industry.Now these sources are external due to the fact that it is simply impossible to temper with. But what we can control, are the two internal sources: the bargaining power of suppliers, and the bargaining power of buyers. Being aware of the five forces can aid firms into identifying existence and the importance of each of the five forces, as well as the roles that each force plays into the success of the firms. The threat of potential entrants: Although it is possible for any company to enter and exit a market of their choice, each market has their own unique barriers to go in and out of.Therefore the essence of this force deals with the level of difficulty that a company can enter into an industry which will ultimately impact competition within the industry. Whenever a new company enters an industry, the competitive climate changes; it provides more alternatives to consumers, therefore reducing its attractiveness and the competition within the industry increase s as each company is trying to come out on top. As each industry have their own unique characteristics it allows them to build a barrier from other industries protecting them from profitability while restraining additional rivals from entering the market.These restraints and characteristics that industries create are referred to as barriers of entry. Barriers of entry are a characteristic acquired uniquely to each industry. It attempts to reduce the rate of entry of new companies which maintains the level of profitability for all current industry competitors, where if new companies enters the industry, the profit is shared amongst the original and the newly developed companies in the industry, ultimately decreasing overall profits of each company, which isn’t ideal.Conversely when profitability of an industry is high, companies will attempt to come into the industry to get a piece of the action, which then will eventually result in reducing profits due to the fact that it is divided up into more quarters. Where there’s an entry, there’s an exit, barriers to exit limits the ability of a firm to leave the market, meanwhile rivalries can worsen. So when barriers for entry and exits are high, it means that companies have a higher potential to make more profit and the opposite occurs when barriers are low.The threat of substitutes: where it refers to substitute product as those that are available in other industry which can also fulfil the need and want of the consumers. It can affect competition in an industry by placing an invisible ceiling on prices which companies within the industry can charge, due to the fact that if the cost of substitute is low then the consumers will tend to purchase substitutes, therefore limiting the prices that a company can place on certain items to gain maximum profit. For example, lemonade can be substituted for a soft drink.Generally, competitive pressures arising from substitute products increase as the relativ e price of substitute products declines and as consumer's switching costs decrease. The bargaining power of buyers is affected by the concentration and number of consumers, when buyer power is strong, they gain the power to choose between producers and ultimately equip themselves with bargaining power which then the producers will have to conform to in order to produce profit, under these conditions the buyer has the most influence in determining the price of products.Also when buyers have strong bargaining power in the exchange relationship, competition can be affected in several ways. Powerful buyers can bargain for lower prices, better product distribution, higher-quality products, as well as other factors that can create greater competition among companies. To minimise the power of buyers, companies can develop offers in which strong buyers cannot refuse, also, companies can choose to select buyers with less bargaining power.Similarly, the bargaining power of suppliers affects t he intensity of competition in an industry, for a production industry that produces goods, raw materials are needed which creates a buyer and supplier relationship between the industry and companies which produces the raw materials. Suppliers may be able to determine prices especially when there are a large number of suppliers, limited substitute raw materials, or increased switching costs. The bargaining power of suppliers is important to industry competition because suppliers can also affect the quality of exchange relationships.Competition may become more intense as powerful suppliers raise prices, reduce services, or reduce the quality of goods or services. In order to minimise the power of suppliers, industry tend to build win-win relationships with suppliers where both parties benefits from it or arrange to use multiple suppliers so if one supplier chooses to increase their prices, the company doesn’t get affected as much. Competition is also affected by the rivalry amo ng existing firms, which is usually considered as the most powerful of the five competitive forces.In most industries, business organizations are mutually dependent, industries that are concentrated versus fragmented; often display the highest level of rivalry. A competitive move by one company in pursuing an advantage over its rivals can be expected to have a noticeable effect on its competitors, and thus, may cause retaliation of other companies, for example, lowering prices, enhancing quality, adding features, providing services, extending warranties, and increasing advertising, placing themselves in a competitive advantage over the competitors.The nature of competition is often affected by a variety of factors, such as the size and number of competitors, demand changes for the industry's products, the specificity of assets within the industry, the presence of strong exit barriers, and the variety of competitors. These conditions will lead to a more challenging industry where com panies compete in, leading to price wars, advertising battles, and the addition of new products. So after going through the five forces, let’s take a look at what strategic planning really means.If we are going to have a good strategy, we must separate strategy from goals and objectives and other issues that managers often think about. Now most management practitioners make the mistake in defining strategy, a strategy is what unique position that we will be able to achieve, what our advantage is going to be at the end of the day as we take these steps accumulatively over time, how we’re going to be unique? How we’re going to have an advantage? How we’re going to sustain the advantage over time? Schermerhorn, Davidson, Poole, Simon, Woods, Chau, 2011). The steps we take aren’t a strategy, but somehow numerous companies make the mistake of fixating themselves on a particular action that an organisation want to approach, which then inevitably becomes their strategy but that usually leads to the downfall of the company simply because they do not know why they’re doing it and when they should stop doing it. As we all know, every industry is different, therefore, there is no universal strategy that can apply to any business.But before proceeding, a company must understand their position and the industry that they are in and their circumstances in order to find a way of obtaining a competitive advantage over the competitors, where indefinitely delivering a unique value to the consumers which rivals cannot. As the five forces (Porter, 2001) suggests that being at a competitive advantage is the idealistic way of being on top, due to the fact that every industry has their own set of economics, the five forces (Porter, 2001) without a doubt acts as a framework to extract any necessary information needed to develop strategy to gain competitive advantage.The Five forces (Porter, 2001) help you home in on what is really causing prof itability, or in fact what is causing the trends of the significance and change of the industry. This powerful framework can prevent an organisation from getting tricked or trapped into the latest trends like the technological sensation, and really allowing organisations to focus solely on the underlying fundamentals. This can be applied to any industry whether if its production or a service, high tech or low tech, emerging or developed industries (Porter, 2001).With the framework at hand, it acts as a guide or even a tick off criteria sheet into strategic planning, how should we begin? The strategy formulating process will be pretty straight forward from here after deeply understanding the five forces which Porter (2001) proposed. The first step should be the analysis of the industry that a company is trying to get into, looking at the environment to tick off all of the 5 boxes one by one, evaluating what the industry looks like, how it’s been changing over time, and what ar e the drivers of competition (Schermerhorn et al, 2011).After a careful analyse the company is then required to under the dynamics as to where the industry is going, how the buyers and substitute’s entry level are evolving, and lastly how to position the company to gain a good profit. These are all extracted from the framework proposed by Porter (2001), although competition is sometimes looked at too narrowly, with careful analysis of the five forces (Porter, 2001) will ultimately position the company in a competitive advantage.Where a competitive advantage allows an organisation to deal with the market and environmental forces much better than its competitors (Ramon, 2012), to achieve this goal, the company needs to be at its best and better than the competitors who are trying to achieve the same goal in the same industry. Rather than a goal, competitive advantage is a position that a company wants to be in, a goal is to make the competitive advantage sustainable in spite of all the mockery of rivals, although achieving and sustaining it is a challenging task, but it will set concrete roots for the company in years to come.The implementation of strategic planning tools serves a variety of purposes in companies, including the clear definition of an organization's purpose and mission, and the establishment of a standard base from which progress can be measured and future actions can be planned. I-O psychologist Ramon E, Henson (2012) and Robert E, Ployhart (2012) although having disagreements in some parts of their papers, they ultimately come forward in reinforcing the importance of competitive advantage suggesting that I-O and strategy has been â€Å"joined at hips for years† (Ramon, 2012), also suggesting hat I-O psychology should stray from the focus of individuals and start focusing more on the company as a whole as they have â€Å"much to offer† in the understanding of competitive advantage (Ployhart, 2012). Furthermore, the strategic planning tools should communicate those goals and objectives to the organisation as a whole rather than just the ones involved in the strategic planning process (O’Shannassy, 2003) to achieve a more efficient work flow. Throughout the centuries, countless strategic approaches has been formed and used and recycled, so why use Porter’s Five Forces (2008)?For example, strategy as simple rules Kathleen M. Eisenhardt, ; Donald N. Sull, (2001). It illustrates the success story of Yahoo! , along with other successful companies coming from an unattractive market. â€Å"So how they did succeed? More generally, what are the sources of competitive advantage in high-velocity markets? What does strategy mean in the new economy? † (Eisenhardt et al, 2001, p. 108). The key is none-other than strategy as simple rules, it targets market confusion and rides the magic carpet to see where or what it will journey into.Although it is indeed called â€Å"simple rules†, a rule still applies to it, as one Internet executive explained: â€Å"I have a thousand opportunities a day; strategy is deciding which 50 to do. † (Eisenhardt et al, 2001, p. 108). As it summarises and illustrates that simple rules is all about taking risks, its essence is to capture unanticipated opportunities for ultimate success. Although for companies like Yahoo! has gained huge success, simple rules (2001) cannot apply to any industry as the authors suggests (Eisenhardt et al, 2001).If the opportunity presents itself, for anyone to use simple rules (2001) as a stepping stone to success, without a doubt, one should take the opportunity, but an opportunity does not just come without any background knowledge of a particular industry, and this is where Porter’s Five Forces (2008) comes into play, as it provides a framework for careful analysis of the industry, by analysing the industry will allow you to grab hold of the opportunities that might come about. Despite the fact that there are numerous of strategies to obtain competitive advantage, Porters Five Forces (2008) acts as a basis of all these trategies, as it is a tick-off criteria sheet which allows a company to understand their position before even implementing any sort of action. It is important as companies strives for ultimate profitability, thus the importance of a company securing a competitive advantage over their competitors is key, as even I-O psychologists supports the important of competitive advantage and that it should be a â€Å"department on its own† (Ployhart, 2012). How to implement strategy and sustaining it is another question. Although Yahoo! nd some other companies has succeeded without the five forces (Porter, 2008), it is a dangerous and risky step, and for those who doesn’t have the resource to throw around, Porters Five Forces (2008) will not only act as a friend but mentor to the journey of success. Reference John R. Schermerhorn, Paul Davidson, David Poo le, Alan Simon, Peter woods ; So Ling Chau (2011). Management 4th Asia-Pacific Edition. Queensland, Australia: John Wiley ; Sons Australia, Ltd. Kathleen M. Eisenhardt, ; Donald N. Sull, (2001). Strategy as Simple Rules. Harvard Business Review,79(1), 106-116.Porter E. Michael. THE FIVE COMPETITIVE FORCES THAT SHAPE STRATEGY. Harvard Business Review, 00178012, Jan2008, Vol. 86, Issue 1. RAMON M. HENSON. Industrial-Organizational and Strategy Are Integrated in Practice! Industrial and Organizational Psychology, 5(2012), pp82-86. Robert E. Ployhart. From Possible to Probable: The Psychology of Competitive Advantage. Industrial and Organizational Psychology, 5 (2012), 120–126. Tim O’Shannassy, (2003). Modern Strategic management: Balancing Strategic Thinking and Strategic Planning for Internal and External Stakeholders. Singapore Management Review, 25(1), 53-67.