Mental Representation Is Based On Imagery Psychology Essay

Mental Representation Is Based On Imagery Psychology Essay There is few ways of representing thoughts in our mind, in this essay, we will be discussing about how mental representation is based on imagery, and also talks about whether speech recording is necessary for reading or not. Eysenck and Keane (2000, pp. 243) argued that, A representation is any notation or sign or set of symbols that represents something to us. In general, mental imagery is the mental invention or recreation of an experience that in at least some respects resembles the experience of actually perceiving an object or an event, either in conjunction with, or in the absence of, direct sensory stimulation. Internal, mental representations consist of symbolic representations and distributed representations (Quinlan Dyson, 2008). Symbolic representations can be regarded as some well-defined symbols. Every symbol represents a particular and distinct entity, including images. Indeed, symbolic representations are comprised of analogical and propositional representations (Quinlan Dyson, 2008). Analogical representations are a variety of images, which can be visual, olfactory, auditory and so on. Although information represented by these images can be acquired from a variety of perceptual sources, the analogical representations are concrete and connected to a particular, specific sense modality instead. In contrast, the propositional representations are more discrete and abstract. Information represented by them can be acquired from any modality. This kind of propositional symbols is usually specific entities and the relationship between them is distinct as well. Propositional representations are discrete and abstract entities that stand for the ideation of the mind in any modality. Therefore, the representations can be treated as a basic language to represent various mental information. Propositional representations consist of three aspects, objects, relations and schemata (Eysenck Keane, 2000). In object concepts, each entity can be defined and characterised by its attributes and features. The definition of an object plays a crucial role in categorising things and organising memories, knowledge, concepts and mentality. Relations focus on how one object is linked to another and on the interaction between them in the propositional representations. For instance, if the relation is an action verb like hit, people should be able to determine what an agent, a recipient, and an instrument respectively are. Semantic primitives underlie a specific relation. Many psychologists took researches on examining whether semantic decomposition occurs (Eysenck Keane, 2000). In the expression that the sun melted down the ice cream, the specific objects are the sun and the ice cream, and the relationship between the two entities is represented by the predicate melt down. In this case , the mental representation is that the two entities, the sun and the ice cream, are linked together by the conceptual relation melt down. The concepts and knowledge in peoples mind which reflect the world are complexly structured. There are three relative structures, schemata, frames, and scripts. Schemata, involving a lot of concepts are commonly used by people to perceive the world. Scripts were proposed by Schank and Abelson (1977) to explain the knowledge in peoples mind of what happens every day. Also, frame was proposed by Marvin (1975; as cited in Eysenck Keane, 2000) and was widely used in visual perception. Therefore, propositional representation is a pretty crucial form of mental representation. Also, imagery is another form of mental representation, which is viewed as analogical representation. Analogical representations, especially visual images, are another essential form of mental representations. The long-time study of visual imagery can be traced back to more than two thousand years ago when Aristotle considered imagery as the main medium of thought (Eysenck Keane, 2000, pp. 258). Nowadays, the studies on imagery still continue. The essay will concentrate on three important sets of studies that illustrate the properties of imagery. In the experiment conducted by Cooper and Shepard (1973), the subjects were asked to determine whether the presented figure was the normal version or mirror-image version, compared with the standard one. The result of this experiment was that the more the test figure was rotated from the standard one, the more time the subjects would spend in making their final judgments. According to this experiment, the objects are mentally rotated in the same way that they are operated in the real and physical world. So, mental visual images have all the same attributes and features with those of actual objects in the real and physical world. However, Rock (1973) argued that the more complex the test mental images were, the more difficulty it was for subjects to make correct judgments. The second set of studies that I am going to disccuss about is on image scanning, this which represents another aspect of the nature of mental imagery. Kosslyn, Ball, and Reiser (1978) conducted a mental scanning experiment that subjects were asked to image a black dot moving from on point on the map to another. The result showed that the scanning time was linearly related to the distance between the two points (Eysenck Keane, 2000). So, images have similar spatial properties with those of objects in the real and physical world. Another set of studies about imagery is called reinterpreting images of ambiguous figures. Chambers and Reisberg (1985) showed ambiguous figures to subjects, to ask the subjects to interpret every figure in different ways. However, only if subjects had drawn the image of the figure, could they make a reinterpretation of it. The result indicates that the imagery is influenced by some propositional code, and people always ignore what is needed for reinterpretation. Therefore, imagery is also a necessary part of mental representation. Imagery actually represents the perception of the outside world in our mind and the reflection our internal mentality. Thus, imagery is an important element of mental representation, but cannot completely cover all the aspects of that. Also, mental representation is not simply based on imagery. According to Kosslyns theory of imagery, the upshot of the long-time conflict between propositions and images is that images are a distinct form of mental representations, and that images have obvious significance in functions compared with propositional representations. Propositional and analogical representations constitute the symbolic representations, as a key aspect of internal, mental representations. However, there is another form of mental representation which is called distributed representations. A distributed representation involves a simple network called a pattern associator (Eysenck Keane, 2000), with no symbols. The pattern associator represents the association between two different sets of units of an object in a network. Hinton et al (1986) proposed that the relationship between distributed representations and symbolic representations is not conflicting, but complementary. Thus, the high-level symbolic representations can be represented by lower-level distributed representations. Also, the lower-lever distributed representations are considered as fundamental part of the high-level representations. Vividly speaking, the symbolic representation is the macro-structure of mental representation, whereas the distributed representation is the micro-structure of cognitive representation. In conclusion, imagery is only an essential form of mental representation. There are also two forms called propositions and distributed representation. Instead of contradicting one another, the complementary among them is able to help people to perceive and represent the world.

Tesco Strategy Analysis

Tesco Strategy Analysis Introduction First I will start with brief introduction of the firm I am writing about. Tesco is the largest food retailer in UK, operating around 2,318 stores worldwide. Tesco operates around 1,878 stores throughout the UK, and also operates stores in the rest of Europe and Asia. Tesco.com is a wholly-owned subsidiary offering a complete online service, including tescodirect.com and tesco.net. The company also offers a range of both online and offline personal finance services. Tesco is headquartered in Hertfordshire, UK. For the year ended February 2004 Tesco PLC achieved revenues that totaled  £33,557 million, an increase of 18.7% against the previous year’s revenues that were  £28,280 million. (5) History This part I have divided into three main fraction: Grows; Marketing/management strategy and competition during each particular period of time. Competition is included here for the reason that I am strongly persuaded that it is the main driving force for any business. Pre 1980 Grows The Tesco brand first appeared in 1924. Name was formed by using the first three letters of the suppliers name (TES), and the first two letters of a brand creator surname ((CO) Jack Cohen), forming the word TESCO. Tesco floated on the London Stock Exchange in 1947 as Tesco Stores (Holdings) Limited. The first self service store opened in St Albans in 1951 (still operational in 2008 as a Metro), and the first supermarket in Maldon in 1956. During the 1950s and the 1960s Tesco grew organically, but also through acquisitions until it owned more than 800 stores. The company purchased 70 Williamsons stores (1957), 200 Harrow Stores outlets (1959), 212 Irwins stores (1960), 97 Charles Phillips stores (1964) and the Victor Value chain (1968) (sold to Bejam in 1986). (3) Marketing strategy Tesco introduced the new superstore concept for Britain. After a few years from appearance (1968) superstore became very popular for it’s vide range of products at competitive price. In 1974 company introduced its first gas station which had lower price for petrol but was adjacent to Tesco superstore. (1) 1980s In May 1987 Tesco completed its hostile takeover of the Hillards chain of 40 supermarkets in the North of England for  £220 million 1990s Grows 1995 Tesco overtook Sainsbury and became UK largest supermarket. In the 90s international expansion began: France (1992) Hungary (1994) Poland (1995) Czech Republic (1996) Slovakia (1996) Republic of Ireland (1997) Thailand (1998) South Korea (1999). Entering foreign markets in the first half of 90s was made mainly by purchasing already existing stores or joining the local retail leader. For example first stores in the Czech Republic were opened by buying US corporation Kmarts operations in the country and converting them into Tesco stores. In 1997 expansion to Asia market began from acquiring 13 shops from CP Group in Thailand and formed Tesco Lotus. In 1999 by joining with Samsung entrance to South Korea market was achieved. (3)(1) Marketing strategy Tesco introduced a loyalty card, branded Club card, in 1995. This card was giving discount but what is more important it gave an opportunity to keep a hand on a pulse of customers need and to collect all necessary data for future planning’s. New goals were set: Expansion to foreign market, developing of a nonfood products selling. Tescos main advertising slogan appeared Every little helps. Its advertisements in print and on television mainly consist of product shots (or an appropriate image, such as a car when advertising petrol) against a white background, with a price or appropriate text, e.g. Tesco Value, superimposed on a red circle. (1) On television, voiceovers are provided by recognizable actors and presenters, such as James Nesbitt, Jane Horrocks, Terry Wogan, Ray Winstone, Neil Morrissey, Martin Clunes, David Jason and Kathy Burke among others. In international expansion Tesco took to attention difference in tastes between different regions. While entering Central Eu rope market Tesco was instilling western standards of shopping by introducing large number of hypermarkets. (2) Also very big attention was devoted to customers’ needs usually it was represent in product line. In Czech Republic for example Tesco concentrated on providing Czech products in retail shops. In China, the locals preferred to buy live fish, turtles, meat and other popular products such as instant noodles, unlike in European countries. Tesco had to provide these in its hypermarkets to draw the Chinese customers. Similarly in Thailand, the customers spent a huge proportion of their income on fresh foods. To adapt to the shopping habits of the Thai customers, Tesco developed a fresh market hall an area adjacent to the main store, wherein 14 local vendors sold a range of fresh fruits, vegetables, meat, ready-to-eat products and other local food products. This area was designed to provide the Thai customers with traditional and local atmosphere. Competition On 21 March 1997 Tesco announced the purchase of the retail arm of Associated British Foods which consisted of the Quinnsworth, Stewarts and Crazy Prices chains in the Republic of Ireland and Northern Ireland, as well as associated businesses for  £640 million. The deal was approved by the European Commission on 6 May 1997. This acquisition gave it both a major presence in the Republic of Ireland, and a larger presence in Northern Ireland than Sainsburys which had begun its move into the province in 1995. Tesco’s nonfood marked faced a huge competition level in GB from such giants like ASDA and MarksSpenser. At the beginning of entrance to the Hungarian market main competition was represented by small family-run stores, which served immediate customer needs. The strategy against it was introducing more than 1000 its own label products at 20% cheaper price than branded ones. Later Auchan (Fr), Metro (gr) and Cora (Fr) entered Hungarian market and became the main competition. 2000s Grows After purchasing 35% share of Grocery Works in July 2001 Tesco became involved in the USA internet grocery retailing. In 2002 Tesco purchased 13 HIT hypermarkets in Poland. By purchasing TS Stores, owner of 870 convenience stores in the One Stop, Dillons and Day Nite chains in the UK it made a huge step in the homelands convenience store market. In October 2003 Tesco started UK telecoms division which added to existing already internet service provider business also mobile and home phone services. In June 2003 Tesco purchased the C Two-Network in Japan and acquired a majority stake in Turkish supermarket chain Kipa. In 2004 Tesco continued its acquiring parade by buying Adminstore, owner of 45 Cullens, Europe, and Harts convenience stores, in and around London. August same year broadband service was launched. In Thailand Tesco Lotus was a joint venture of the Charoen Pokphand Group and Tesco but facing criticism over the growth of hypermarkets CP Group sold its Tesco Lotus shares. In late 2005 Tesco acquired the 21 remaining Safeway/BP stores after Morrisons dissolved the Safeway/BP partnership. In mid 2006 Tesco purchased an 80% stake in Casinos Leader Price supermarkets in Poland. They will be rebranded into small Tesco stores. (3; 1) Marketing/management strategy Tesco`s international expansion strategy in Asia was mainly represented as joint ventures with the local partner firms like Samsung Group in South Korea (Samsung-Tesco Home plus), and Charoen Pokphand in Thailand (Tesco Lotus) due to sensitivity of local market for foreigners and a bit more complicated â€Å"know how† than the rest of the world. In these mergers local personnel has an assured quantitative domination in low and middle management positions. . It also formulate not big acquisitions an important part of its expansion strategy. For instance, in its 2005/2006 financial year it made acquisitions in South Korea, one in Japan and one in Poland. In September 2005 Tesco announced that it was selling its operations in Taiwan to Carrefour and purchasing Carrefours stores in the Czech Republic and Slovakia. Both companies stated that they were concentrating their efforts in countries where they had strong market positions. (1) In May 2007 Tesco decided to move its online operations head office to Switzerland for the tax reasons. This allows it to sell CDs, DVDs and electronic games through its web site without charging VAT. This opportunity was closed by government in June 2008. Tesco has made a devotion to corporate social responsibility, by contributing of 1.87% in 2006 of its pre-tax profits to local communities’ charity organizations. (3) In 1992 Tesco started a computers for schools scheme, offering computers in return for schools and hospitals getting vouchers from people who shopped at Tesco. Until 2004,  £92m of equipment went to these organizations. The scheme has been also implemented in Poland.BITC Tesco Computers for Schools. Starting during the 2005/2006 association football season the company now sponsors the Tesco Cup, a football competition for young players throughout the UK. The cup now runs a boys competition at Under 13 level and two girls cups at Under 14 level and Under 16 level. Over 40,000 boys alone took part in the 2007/08 competitions. Competition Tesco was accused by the UK Office of Fair Trading (OFT) for being a part of a price cartel; among participants were top five UK supermarkets (Safeway, Tesco, Asda, Morrisons and Sainsburys) and a number of milk, butter and cheese. The investigation started in 2007 and in the same year Asda, Sainsburys and Safeway adjudged them guilty in acting against consumer interest by covering of 5000 farmers support in recovering after the foot-and-mouth crisis. Total fine for them amounted  £116M. Tesco, on the other hand, maintain to deny any activity in this cartel, therefore it is investigated by the OFT. (3) Strategic analysis Industry analysis: PESTE. UK. Political Factors Because of employment legalization reasons, the state encourages big firms to be a representation of different kind of labor demand, starting from part time, lower-paid local jobs till higher-paid and centrally-located jobs. (7) This includes hiring students, disabled and elderly workers, who are paid lower rates but for the reason of a usually frequent staff turnover, these workers propose a higher level of devotion and therefore represent desirable labor supply. However at Tesco, an overwhelming majority perceived no difference in the treatment of part-time and full-time employees.(7) Moreover In a period of six years, Tesco procured employment to over 2,000 unemployed and disadvantaged people, according its job guarantee scheme. In this scheme the aim is to provide training and employment to people who are first-time workers, single parents and older people. (8) Competition Commissions ruling and have been lobbying to boycott supermarkets and large food manufacturers and instead support small independent suppliers, processors and retailers at the expense of large supermarkets like Tesco. A supporting argument can be shown in figures. In UK by 2004 small grocery stores overall had employed 500,000 people with turnover of  £21 billion, and Tesco managed to hire twice less (250,000) with even bigger turnover  £29bn. (12) Proposals from the European commission to clamp down on predatory pricing policies to prevent the selling of goods below cost price such as exist within France Germany, Ireland and Spain. Furthermore, there are standards for nutrient descriptors such as â€Å"light†, â€Å"reduced fat† and â€Å"low fat†, set by governmental and European agencies like the European Food Authority (EFA) Economical Factors The UK food retailing market is mature and highly competitive and this market has been affected by negative inflation in the food sector. The diffusion of domestic markets and the desire for expansion have treated increasing globalization in retailing via self-start, merger and acquisition and franchising. Poor land resources issue enhanced by government legislation on planning restrictions on out of town shopping facilities makes it difficult to expand into these locations Britains supermarkets are racing to open small high street stores to cash in on demand for convenience shopping in urban areas. (6) Social/Cultural Factors Demographic changes as for example higher percentage of older people, less women as housewives and overall trend for eating outside mean that UK retailers are responding towards changes by focusing on added value products and services. Moreover new trends are the supply chain and other operations cost reduction and own-label share in the business, overall silence about taking new supplier between national retailers. In the UK a tendency toward healthier food and environmental awareness, represented by friendly packaging can be noticed. Nevertheless in the last ten years there has been a quantity improve in consuming quality products with good tastes, among them exotic fruits, fish and other can be noticed. Overall, can be stated that UK population is becoming more experimental in their food traditions. (9) Technological Factors Changes in retailing methods as such clothes sales via the Internet is now a common place in retailing. Paperless operation, the management and administration of the company are undertaken on IT systems, which are accessed through secure servers; provide flexibility in the running of the business. As Sweden is at the forefront of technological advancement with national companies like Ericsson, Tesco would enjoy the comprehensive logistics and distribution channels already in place. Environmental Factors Starting from 2003, an increase in pressure on large companies and managers in UK may be observed, main motivation of a government is to make them be more aware of their responsibility to society, and act in a way which benefits society overall. For the food retailing the biggest issue is environmental, the main area for them to act in the â€Å"socially responsible† way. Therefore by recognizing this drift movement, Tesco developed Corporate Responsibility committee in 2001 in order to fulfill its obligations before society. (6) In 2003 the UK government has launched a strategy for environmentally friendly consumption and manufacturing in order of cutting waste, reducing expenditure of resources and diminishing environmental damage. One of the legislation was a creating of a tax on highly processed and fatty foods advertising. The so-called ‘fat tax directly affected the Tesco product ranges that have subsequently been adapted, affecting relationships with both suppliers and customers. (9) Porters Five Forces Threat of New Entrants The grocery market of United Kingdom is crucially dominated by a small number of competitors, among them such brand names as Tesco, Asda, Sainsburys and Safeway that hold a market share of 70% and small chains of Somerfield, Waitrose and Budgens with a another 10%. Starting from 80th the grocery retailing system has been represented mainly supermarket business. This powerful force had a major impact on the small local, private owned shops, such as grocery, bakers and etc. Therefore in nowadays it can be treated as a huge blockade for the companies who are willing to to enter this market. As an example, two reasons can be stated: necessity of a sufficient capital because of large fixed costs and highly developed supply chains. This is also evident in huge investments done by large chains, such as Tesco, in advanced technology for checkouts and stock control systems that impact new entrants and the existing ones. Other factors can be economies of scale and differentiation (in the prov ision of products or services with a higher perceived value than the competition) which is highly developed by Tesco and Asda due to their promotional/advertizing activity, aggressive operational moves in product development, and more sophisticated distribution. Bargaining Power of Suppliers These representatives of a supply side are usually influenced by key grocery chains and are under a constant pressure of losing their business to the supermarket chains. As a result, it enhances a strong enough as it is positions of dominant stores like Asda and Tesco in compromising better prices from suppliers, which smaller market chains are just unable to go with. Moreover UK based suppliers are vulnerable to the ability of big retailers to source their products abroad at a cheaper price. The UK Competition Commission found that Tesco steadily paid its suppliers 4% below the industry average on the 2000 date. In 2005 newspaper â€Å"Financial Mail on Sunday† started the campaign called â€Å"supermarket bullies† to uncover cases of pressuring farmers by large grocery chains. â€Å"We have heard numerous cases of poor treatment of suppliers by Tesco, but all of those we spoke to asked to remain anonymous for fear of losing contracts. One supplier said â€Å"I woul d like to give you this info but cannot risk being seen to be a troublemaker for fear of losing valuable supermarket customers†Ã¢â‚¬  was written in the report. (12) Tesco voluntary signed for supplier Code of Practice provided by Department of Trade and Industry (dti) to solve the problem of pressuring suppliers. However as Office of Fair Trading states that code is not working effectively, suppliers concerned about being de-listed by supermarkets or worsening trade conditions if they will officially complain. Bargaining Power of Customers Tescos famous loyalty card Club card can still be named as the most successful customer maintenance strategy that plays a big role in Tescos financial profitability upkeep. Brand Tesco can hold and increase its customer base because of its permanent tendency to meet customer needs, constant in-store promotions, customizing service to maintain lower prices. A crucial change has occurred in shopping habits of UK population in recent years. People tend to satisfy more of their needs in one place and in shorter time, it shows a necessity for large chains to expand their services into new non-food markets as banking, pharmacies, telecoms, etc. Consumers have become keep an eye on fair trade and the influence of developed countries consumers on the Third World suppliers. Fairly traded products as tea, coffee and cocoa are viable, and such products are now widely available at the majority of large chains. In 2005 Tesco had the largest range of fair-trade products in the UK, it was represe nted by 91 fair-trade products line, however comparing with overall context of the 40,000 products line it looks rather tiny (0.2%) achievement of supporting third-world countries. Moreover there are evidences that supermarkets exploiting customers good will by overcharging for fair trade products. â€Å"The supermarkets know that people do not go for the cheapest product when buying fair trade because they think the extra money is helping someone in the developing world.† John McCabe, a retail pricing expert states. (12) Threat of Substitutes In the grocery industry small chains of convenience stores are emerging in the industry. In this case Tesco, Asda and Sainsburys are trying to acquire existing small-scale operations and opening Metro and Express stores in local towns and city centers. With a giant share of the grocery retailing market represented by Tesco`s chain, small private shops can be placed nowhere but substitutes. Most local retailers wind it almost impossible to compete with Tesco because its enormous buying power. On average Tesco contracts with wholesalers are 11.5 per cent cheaper than for private independent retailers. Londis, the â€Å"corner shop† brand in UK, has claimed that it is cheaper to purchase brands from Tesco and resell them than to buy them from wholesalers. (12) Bargaining Power of Competitors The retailers market environment can be characterized as dominated by large players with significant grows, increasing store size, emergent retailer concentration, and the utilization of a range of formats, which are now important characteristics of the sector. As it was already stated, almost all purchasing power of the food retailing industry is acquired in the relatively small number of retail buyers. Besides market can be described as mature operating, where grows is difficult and it serves as a driver to diversification into non-food areas, moreover, consumers are more and more demanding and sophisticated, big players like Tesco are constantly accruing large amounts of consumer information that can be used to predict and fulfill their changing preferences. This highly competitive market currently is in the position where advanced technology and innovations are required for maintaining and increasing market share. Such innovation can be seen in the development of a range of trad ing formats, in response to changes in consumer behavior. The dominant market leaders have responded by refocusing on price and value, whilst reinforcing the added value elements of their service. (8, 4, 6) Corporate Social Responsibility Initiatives Mission statement: Creating value for customers, to earn their lifetime loyalty. Tescos corporate responsibility work is reflected in its everyday activities, mainly focusing on use of organics, use of energy and recycling water and in addition charity and community initiatives. Tescos CSR strategy was to earn the trust of our customers by acting responsibly in the communities where we operate, by maximizing the benefits we bring and working to minimize any negative impacts. (10) The company is publishing â€Å"Corporate Social Responsibility Report† every year, with a detailed description of a companys CSR approach, implementation and policies. Usually it consists of such element as â€Å"Environment†, â€Å"Community†, â€Å"Suppliers and ethical trading†, â€Å"Customers, choice and health† and â€Å"People†. A Corporate Responsibility committee was established in 2001 it consists of different functions executives, who are gathering four times a year for Tesco`s Corporate Social Responsibility initiatives discussion. The first report of committee came out in 2001. CSR plays a big role in strategy decision making of Tesco due to its wish to ensure that corporate responsibility creates a component of the everyday activities of the company. Because of its large size and degree chain, supermarkets like Tesco are influencing society in a broad perspective by encouraging its employees, suppliers and customers to be socially responsible. In Tesco`s case an example of this kind of responsibility can be its charity, fund raising for education, promotion of health food and making it as affordable as it can be. This social responsibility policy is implemented not only for chains operating in UK, but also to the all countries where Tesco is developing its business. (11) In 1992 Tesco started a computers for schools scheme, offering computers in return for schools and hospitals getting vouchers from people who shopped at Tesco. Until 2004,  £92 million of equipment went to these organizations. The scheme has been also implemented in Poland. Starting during the 2005/2006 football season the company now sponsors the Tesco Cup, a football competition for young players throughout the UK. The cup now runs a boys competition at Under 13 level and two girls cups at Under 14 level and Under 16 level. Over 40,000 boys alone took part in the 2007/08 competitions. (3) Tesco gave at least 1% of its pretax profit to charity, in the form of donations, employee time and gifts. In the fiscal 2004-05, Tescos total charity contributions stood at  £21,762,931. Tesco Charity Trust provided grants of  £878,556 to local and national charities in the UK (3) Though Tesco`s initiatives toward being more social and environmental responsible a quite visible, there is some issues it is criticized for. For instance, Tesco distributed 1.4 billion plastic bags in 2004, which ended up in landfill. In the UK, only 7% of plastic bags were recycled and the company continued using more and more plastic bags. Grocery packaging makes up roughly a quarter of all household waste. (11) Second what is Tesco claimed for is energy use. Tesco uses twice more energy and on average in the industry 4.3 GJ/m2/yr to 2.4 GJ/m2/yr respectfully. Among others concerns of Tesco`s environmental friendship are Pesticides and organic food (the issue is that not just Tesco tries to gives no privilege to non pesticide food, but also overprices organic goods); GM foods (dairy and meat products from animals fed on GM cattle feed (maize and soya)) and deforestation. Aims and Objective Five objective of Tesco`s business strategy are: To be a successful international retailer Since the mid 90th Tesco have been investing in market out of the country, looking for new opportunities for expansion and accumulating long term securities and returns for shareholders. Today Tesco is present in 13 markets outside UK and planning to enter India. To fulfill all international ambitions Tesco has evolved a strategy based on six elements. Be flexible(in Japan people prefer to buy small amount of fresh food every day) ; Act local (In Thailand customers have a habit to interact with vendors and choosing what they want from piles of production); Maintain focus; Use multi-formats (hole spectrum from convenience to hypermarkets) ; Develop capability; Build brands. To grow the core UK business Core UK business has over 285,000 employees and over 2,200 stores, moreover, 70% of sales and profits comes from UK business. Tesco in planning to maintain their different store format strategy, which consists of Express, Metro, Superstore, Extra and Homeplus. To be as strong in non-food as in food. The broadest range of non-food products can be seen in Extra stores and Homeplus that include such products as clothing, health and beauty, stationery, cookshop and soft furnishings, etc. In 2006 was launched Tesco Direct, an online catalogue with non-food offers, including almost 13,000 products in it. To develop retailing services such as Tesco Personal Finance, Telecoms and Tesco.com â€Å"All our customers are different, and their needs are continually changing. That’s why we continue to offer more than one way to shop.† Tesco Personal Finance is giving for customers a choice of 28 products varying from savings account and credit cards to car insurance. Tesco.com has attracted more than one million customers since 2000 in UK. Main target groups are people without access to transport and without time for shopping. Tesco.com also operates in the Ireland and South Korea. To put community at the heart of what we do. â€Å"Our core purpose is to create value for customers to earn their lifetime loyalty. Our values, which underpin everything we do, are that no-one tries harder for customers and to treat people how we like to be treated.† References 1. Tesco: The British Supermarket Chains Global Expansion Strategies » ICFAI Business School; Case development centre 2. Supermarket Wars Andrew Seth and Geoffrey Randall 3. Wikipedia.org 4. http://www.answers.com/topic/tesco-plc-adr 5. http://www.tescoplc.com/plc/ir/ 6. Ivoryresearch.com Strategic Management of TESCO supermarket: PESTEL analysis, Porters 5 Forces analysis, Critical success factors, SWOT Analysis, VALUE CHAIN analysis, TESCOS strategic options, Core Competences Cultural Web. 7. Part-time Workers in the Multiple Retail Sector Small Change from Employment Protection Legislation? Alison Balchin 8. http://ivoryresearch.com/sample5.php 9. Marivic Butod Strategic Analysis of Morrison, Asda and Tesco July 20, 2009 10.Tesco Corporate Social Responsibility Report 2009 11. ttp://www.icmrindia.org Tescos Corporate Social Responsibility Initiatives 12. â€Å"The Tesco Takeover† the friends of the earth report. http://www.foe.co.uk/ Other Essays on Tesco Other essays available on the Tesco organisations are: Tesco Business analysis Tesco is one of the leading supermarkets Tesco Changing Business Environment Tesco SWOT analysis Tesco Fresh Veg Supply Chain Management

Weaknesses of Esther and Plath Exposed in Sylvia Plaths The Bell Jar E

Weaknesses of Esther and Plath Exposed in The Bell Jar   Ã‚  Ã‚  Ã‚   The glass of which a bell jar is constructed is thick and suffocating, intending to preserve its ornamental contents but instead traps in it stale air.   The thickness of the bell jar glass prevents the prisoner from clearly seeing through distortion.   Sylvia Plath writes with extreme conviction, as The Bell Jar is essentially her autobiography.   The fitting title symbolizes not only her suffocation and mental illness, but also the internal struggle of Plath's alter ego and novel protagonist Esther Greenwood.   The novel illustrates the theme confinement by highlighting the weaknesses of both Esther and Plath.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Esther's first statement, "It was a queer, sultry summer, the summer they electrocuted the Rosenbergs"   (1) sets the tone for the novel and establishes her preoccupation with death.   She alludes to no remorse at the loss of life but rather concentrates on the wonder of execution. This style allows the reader to see the development of confinement; that is, Esther's preoccupation with death entraps her within herself.        Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It is perhaps her over-analysis of situations that causes the manifestations of her psyche; she consistently volleys between multiple possibilities, searching for the most fruitful option.   The novel's theme is consistently shown as a mental battle of Esther versus herself, a direct result of her mental illness.      It is obvious that Esther is at a crossroads and feels torn by life.   She best describes her feelings with the following passage:   "I saw myself in the crotch of this fig tree, starving to death, just because I couldn't make up my mind which of the figs I would choose.   I wanted each a... ... her a strong person.    Works Cited and Consulted: Brennan, Sheila M. "Popular Images of American Women in the 1950's." Women's Rights Law Reporter 14 (1992): 41-67. Bronfen, Elizabeth. Sylvia Plath. Writers and Their Work. Plymouth, UK: Northcote, 1998. Evans, Sara M. Role Models of Women in America. New York: Free-Simon, 1989. Friedan, Betty. The Feminine Mystique. Twentieth Anniversary Edition. 1963. New York: Norton, 1983. Nizer, Louis. The Implosion Conspiracy. New York: Doubelday, 1973. Plath, Sylvia. The Bell Jar. 1963. London: Faber, 1966. Radosh, Ronald, and Joyce Milton, eds. The Rosenberg File: A Search for the Truth. 1983. New Haven: Yale UP, 1997. Stevenson, Anne. Bitter Fame: A Life of Sylvia Plath. London: Viking-Penguin, 1989. Wagner-Martin, Linda. Sylvia Plath: A Biography. New York: Simon, 1987.   

Blaise Pascal :: essays research papers

Blaise Pascal was born in Clermont France on June 19, 1623 to Etienne Pascal. His mother died when he was only 3. He was the third of four children and the only boy. He was described as a man of: small stature, poor health, loud spoken, somewhat overbearing, precious, stubbornly persevering, a perfectionist, highly pugnacious yet seeking to be humble and meek. Pascal's father had somewhat unorthodox views on education, so he decided to teach his son himself. He forbade any mathematic teachings or material to be given to him and had any such texts removed from their house. Blaise became engulfed with curiosity due to this rule. He started to work with geometry on his own at the age of 12. He discovered that the sum of the three angles of a triangle is equivalent to two right angles. When his father discovered this he then allowed Blaise a copy of Euclid. At the age of 14 Blaise began accompanying his father to Mersenne's meetings. Mersenne was a member of a religious order of Minims. His cell held many meetings for the likes of Gassendi, Roberval, Carcavi, Auzout, Mydorge, Mylon, Desargues and others. By the time he was 15 Blaise admired the work of Desargues greatly. At 16 Pascal presented a single piece of paper at a Mersenne's meeting in June 1639. It held many of his geometry theorems, including his mystic hexagon. In December 1639 he and his family left Paris and moved to Rouen where his father Etienne was appointed tax collector for Upper Normandy. Soon after settling down in Rouen his Essay on Conic Sections was published in February of 1640. It was his first great work. Pascal also invented the first digital calculator to aid his father in his tax collecting duties. For three years he worked 1642 - 1545. Dubbed the Pascaline, it resembled a mechanical calculator of the 1940's. This almost assuredly makes Pascal second only to Shickard who manufactured the first in 1624. Pascal faced problems with the design of the calculator due to the design of French c urrency at the time. There were 12 deniers in a sol, and 20 sols in a livre. Therefore there were 240 deniers in a livre. Hence Pascal had to deal with more technical problems to work with this odd way of dividing by 240. Yet the currency system remained the same in France until 1799, but Britain's similar system lasted until 1971.

Winter Dreams :: essays research papers

In F. Scott Fitzgerald’s, â€Å"Winter Dreams† Fitzgerald creates a character, Dexter Green, a fourteen year old boy who is confident in his â€Å"winter dreams† of extraordinary success, wealth and social status in his â€Å"golden future†. Over the course of the story Dexter paved his way to an ambitious future of economic wealth. At fourteen Dexter was described as the best caddie worker in the club, making thirty dollars a month, which for the summer was not able to be me made anywhere else on the lake. Dexter was also a smart boy, who knew how to barter, asking Mr. Jones for a raise making it â€Å"worth his while† since he was the best caddie. This shows that Dexter is not the type that will just settle. He is a very determined ambitious character.   Ã‚  Ã‚  Ã‚  Ã‚  After college Dexter becomes successful in the business world, opening a chain of laundries. He moves his way up the economic ladder with all of his laundries being flourishing. This shows that he is a hard working ambitious character because he is slowly becoming successful in the business world.   Ã‚  Ã‚  Ã‚  Ã‚  When Judy terminated the engagement, Dexter went out east with the intention of selling out his laundries—but when the war came to America he handed over the business for his partner to run, so he could fight in the war. This shows that Dexter was ambitious because he went off to fight for his country and he left everything he had behind, risking everything that he had.   Ã‚  Ã‚  Ã‚  Ã‚  In the end of the story, Dexter learns from a business man that Judy had gotten married to an alcoholic husband. He says, he can not care anymore, nor will he ever. Ultimately, Dexter realizes that his desire for ambition in the business world will overpower his desire for love with Judy, or any woman for that matter.

Escape of the Gymnasium

As I sat in a managerial meeting, nervously taking the wrath from demanding hierarchy management, my mind began to drift back to an incident in my early childhood†¦ â€Å"Nice shot Shrimps!† There I was shooting the basketball in gym class, all five foot four inches, 125 pounds of me. I am known as â€Å"Shrimps,† but my real name is Donald I am a small kid, with the heart of a kitten. Patiently waiting for the school bell to ring, to notify me and the rest of the school it was time to go home for the day and come back again in a week and half, I could hardly wait to get home and show my parents my straight A report card. It seemed like two life times had passed already, but I was still stuck there waiting to hear the ring of the damn bell. All of a sudden, I realized Lenord was headed into my vicinity. My pulse began to race, sweat dripping from my forehead; I continued to shoot the basketball. Soon I became scared, so scared I thought I was going to wet myself. The threat was real, very real, but this wasn't the first time I'd been in danger and sure seemed like it wouldn't be the last. I can still see him even now, with a crystal clear vivid image of him. How could anyone forget what he looked like? Everyone in the school knew him as J Dog, but behind the slang name J Dog, he was known to all too many as Lenord. Lenord was double the size of any average Joe his age, standing tall looking over the top of his peer's heads desperately awaiting someone to step in his way. J Dog, the big fat aggressive pain in everyone's bottom, the school bully. J Dog was always with four of his immediate peers. J Dog generally picked fights with weaker students. He would abuse them with his strength and powerful vocal cords, which built his ego on his victims. For nearly the past seven years I have watched him and his four man mafia pick on younger boys. I can not even count the times on my twenty fingers and toes that I was the onlooker, watching sadly from the â€Å"birds eye view,† waiting for their time to come and be put in their place. One incident I witnessed was when J Dog and his four man mafia picked a fight with a varsity football player. As I observed the attack through the bathroom stall the fight seemed too unfair. J Dog and his crew attacked the peer in the boys' bathroom. They all took their turns aggressively punching and kicking the peer. I sat in the stall curled up on the toilet, bracing myself nearly feeling every blow. Showing no remorse they continued on their brutal attack until they seemed too tired to go on. The fight ended with a vicious kick to the face by J Dog. Constantly and repetitively J Dog and his crew moved away from the school handbook and the countless school policies that it entailed. Yes indeed I knew what they were doing, as well as everyone else at the school including the school staff, but no one took the time to create a peaceful environment. It just seemed that no one would stand up to their mischievous behavior. I never understood why this was this way. Why do we all sit here back on our heels and watch this reckless' abandon go on with his terror? We were all equally guilty, guilty as J Dog and his fellow perpetrators. The longer we stood back and accepted their behavior and the longer they were able to rage throughout the school, the stronger they became. This was not a good thing for me, or for the entire school. J Dog and his four brotherhood boys came for me one spring morning. In fact it was the last day of school prior to a well anticipated eleven day Easter break. I'd been playing basketball with a few of my peers in the schools' gymnasium. Looking on the other side of the gym behind a set of bleachers, sat J Dog and his fellow four up to no good teasing and laughing at fellow students. The obnoxious jerk himself, Lenord, and his four manned mafia soon came to the side of the gym where I was playing basketball. Before I had the chance to warn my friends I heard abruptly, â€Å"Donald, you four-eyed worthless piece of shit,† the bully said. â€Å"It's your turn.† My heart hit rock bottom, feeling myself gasp for air, I asked myself â€Å"oh no here we go, I think it is my turn to be plum bulled, or isn't it?† Such simple words, so much unsaid. I didn't need any further explanations. I knew what they wanted and it was not their sanity back. As mentioned earlier I'd seen others after they'd had their turn. It was never a pretty sight. Too many times over the years I have witnessed the brutal attacks on my fellow classmates. In time they would have progressed beyond schoolyard aggression, sinking lower into the anti-social status of the criminal underworld. They'd never be leaders of any kind, just straight up thugs. They'd been well schooled in this art. I had never once in my life been in a fight. Well unless my sister counts? To say I was scared of the upcoming attack would have been an understatement. I was petrified. I knew if I was not careful in what I said or did I may end up dead. As I sat there overshadowed by five ruthless thugs, I knew that even in a fair fight I couldn't possibly win. Other students swirled around us, isolating our little group. It was well known everyone in the oval knew of the intended attack. Sweating profusely, I was nearly drowned in my own sweat, knowing what was waiting for me, wondering why he didn't just lash out and end this mockery, this teasing. I did not even realize then that he'd had to work himself into a frenzy so he could just hit, and hit, and hit. â€Å"What's up, Shrimps? Don't you want your pretty boy face all smashed up like everyone else in this school? Or will you be upset because you will need a face lift?† As I sat there I could only think of dumb things like this girl name Ashley sucking her thumb and my friend telling me to imagine my peers naked while giving a speech. Only the sight of these two things registered on my numbed, frightened brain. â€Å"Why don't you leave me alone? Go annoy someone else.† I took the basketball and dropped it at my feet. â€Å"Are you throwing the basketball at me, Shrimps?† He snorted, searching for any excuse to start a fight with me. I didn't want to give him an excuse. He stood there warlike; hands on hips, wearing his all blue attire. His stomach fat erupted through ragged holes in his once blue t-shirt. Supporting the color blue was what J Dog felt was the holiest color known to mankind. â€Å"Don't be silly, I just dropped it at my feet,† I whined, not at all mentally prepared for the brutal assault. â€Å"I know you didn't just call J Dog silly,† one of his collogues shouted. â€Å"Or I'll flatten you myself. Come on J Dog, give the idiot a reason to talk back and let's get the hell out of here. It is just too hot in here to have to put up with all of this shit,† he added as he grinded his teeth, showing the enormous gap in his bottom teeth, so enormous I could kick a field goal through it. â€Å"You call me silly, did you? You're nothing but a poor excuse for human life. You can run to the teachers all you like, see, I am not afraid of them.† Thoughts began to race inside me. I wondered why school authorities put up with him. Too many times Lenord and his four mates' behavior were over looked. School fights happened; sometimes students went home a little worse for wear. I could not help to notice that in a mere two minutes the bell would sound. Thinking to myself will that bell ever ring and let me out of this mess I got myself into? I responded to this coward known to too many as J Dog, â€Å"I didn't call you silly; I just said I did not throw the basketball at you.† I was answered by a heavy push in the chest, the first sign of physical violence. Staggering back, it was followed by another massive blow from the aggressive J Dog. He stepped back up to me, face to face, as J Dogs four amigos stood close beside him, crowding me like flies on dead carcass. â€Å"Won't you stay and fight?† He spit little specks of salvia at me but I dared not acknowledge them. â€Å"Bloody little coward.† He'd been right; I was a coward, so scared I couldn't run, even if I wanted to, even if there'd been somewhere to go and get away from the mess I was in. I silently choked back sobs, fighting to hold back tears of terror. The panic controlled me; I stood there looking like a buffoon right in front of Lenord, his four friends, my best friend, twenty other students, and one especially hot girl named Cindy. Again the palms of his massive hands stabbed at my chest and, again, I staggered back. I felt the impact of his hands long after they'd abruptly returned to his hips. The five men closed back up on me as we danced further away from the gymnasium bleachers or what I like to call protection from a fall and embarrassment. I felt my grip on reality slipping further and further away. Others were here to only see another beating set forth by J Dog and to witness my shame. Not that J Dog and his mates wouldn't let everyone know how well, or poorly, I took the abuse. There was a certain honor in taking your licking like a man. I hadn't felt like a man, and had been sure there was little honor in J Dog. However, I couldn't hide for the rest of my life. It had been time to stop the hopelessness and stand up for myself and for the rest of the school population. It had to be all or nothing. I preferred nothing, but in the back of my head I wanted nothing more than to set the example. Putting on a brave face, I firmed my voice and looked the outsized buffoon in the eye. â€Å"I know you can beat me like a red headed step daughter, I don't doubt it at all.† As the jittered mess in my voice came out I wanted to look and feel confident in what I said to this animal. â€Å"But Lenord,† I added, â€Å"Just remember one thing. When I hit the ground, so too will your front teeth, you worthless coward. I'll get one punch in, you know I will, and that punch will be directed right for your front teeth. When I am done with you, you will no longer look like the donkey you look and smell like now! Is beating me up worth losing your front teeth?† I was being optimistic, I doubted that I could even get in one punch; I doubted even if delivered I could have knocked out any of his teeth. The reaction from the overweight J Dog was almost priceless. Suddenly it was the bully who backed off, looked lost, looked everywhere but at his bewildered fellows or me. â€Å"Er†¦ er†¦Ã¢â‚¬  he stuttered, â€Å"you're not worth the effort, you are just a waste of my breath, you little crap headed pansy. I wouldn't waste my spit on you. You better get away from me before I change my mind and pound the crap out of you.† Now I was the one standing aggressively, hands on hips, watching the fast disappearing of the other bullies as they soon walked away in disbelief. Cocky in my arrogance, I spit out a final mouth of spit in their vicinity. It had been the most rewarding victory of my life, standing there on that field of honor, knowing that I had conquered the mighty, invincible J Dog. I wanted to shout it out to the rest of the school and let everyone in the school district know of J Dog's defeat. My mind switched off that near death episode, back to the present, to the here and now. Hierarchy management surrounded me, trying to pressure me and abide to their will. Tacky school clothes were replaced with tailored business suits, the overt threat of violence with an undercurrent of raw power. Things hadn't changed. As before, I was the underdog, the potential victim. These smiling men were planning on beating me far worse than the luckless J Dog could ever have imagined. Here I was fighting for my life, my work life, and for the future of my family and myself. I could lose everything. I felt too old to start everything all over again. These smiling piranhas had planned on chewing me up and spitting out the bones. I had to fight for myself and for what I knew was right, and it was time to either stand up and fight their smirking aggression, or lie down and die like a dog. I thought again of J Dog the bully, remembering how quickly he'd collapsed after I stood in his way of destruction. Clearing my throat, I looked straight in the owner's eyes. â€Å"This is what should happen,† I began, as an idea rushed into my mind. Fully knowing what I was going to say, I continued as I spilled out the beans.

The Third Leg in the Strategy Tripod †Institutional Based View

THE THIRD LEG IN THE STRATEGY TRIPOD – Institutional Based View Introduction Strategy has come to play a significant role in international business (IB) in recent times. This is predicated on the fact of complexities associated with globalisation. The interplay of various factors of production in an environment could have been sufficient for MNEs in taking investment decisions. However, experience has shown otherwise. In this light, strategising in the international business arena has been dominated by industry and resource based views, somewhat ignoring the magnitude of institutional impact on investment decisions.EVALUATION OF ‘THE THIRD LEG IN THE STRATEGY â€Å"TRIPOD†Ã¢â‚¬â„¢ According to Peng et al (2008), citing Porter(1980) Barney (1991) the industry-based view is rooted in the assumption that the strategy employed by MNEs is determined by the conditions within the industry of focus. Also, the resource based view tends to narrow performance and internation al business strategy to resources in specific firms. The aggregated views are functions of research findings carried out in environments whose institutions are seemingly standardised and stable.Meanwhile these views have not been able to deal with the nagging questions posed by strategy as regards investment locations. Recent research directions have established remarkable differences in the institutional frameworks of emerging economies relative to developed economies. This is largely due to long history of cultural, legal and political platforms that organise their businesses. According to Peng et al (2008), the effect of these formal and informal institutions are quite remarkable in shaping strategies and performance even in developed economies.This may not have come to the front burner without recent research on the relationship between institutions and organisational strategies in emerging economies. Peng et al (2008) are of the view that earlier approach to international IB st rategy did not offer institutions appropriate place in the strategy discourse. In furtherance to this, Peng et al (2008) argue that the institutions should actually be recognised as the third leg in the strategy tripod. The other legs being resource based and industry based views.Let us explore the institutions and how they impact IB strategies. In understanding an institution, the renowned Economist Searle (2005 pp. 21) defines an institution as ‘any collectively accepted system of rules (procedures, practices) that enable us to create institutional facts’. It follows that the institutions set the rules for doing business in any environment. As such an MNE is only going to be successful where it understands, assimilates and applies the rules of the environment for competitive advantage.Peng et al’s (2008) argument on the institutional view of strategy focuses on legal, social and political aspects as these have been found to change quite significantly in emergin g economies upon both internal and external impacts. EFFECTIVENESS OF THE FOUR CASES OFFERED IN SUPPORTING THE CENTRAL ARGUMENT Peng et al (2008) posit that in transacting business in a developed economy, the supporting institutions operate albeit silently at the background. This is in contrast to the situation in emerging economies where the weight of institutions plays visible roles in consummating transactions.These visible roles have tendencies to alter the business equation in favour of MNEs who have taken proactive steps in influencing the institutional outcomes. Place this fact side by side the growing importance of emerging economies, it becomes imperative that institutional view of strategy becomes as important as the traditional views. Emerging economies like China and India are great examples where institutions’ actions and inactions play great roles in balancing the IB strategy tripod. Growing The Firm In ChinaPeng et al (2008) note that it is puzzling to see Chin a growing economically in the midst of underdeveloped institutional framework. This growth could not have taken place on the strength of the industry and resource based views alone. Peering deeply, Peng et al (2008) Wong (2012) recognise the cultural influences that abound in Chinese business climate which border on social and family networks otherwise referred to as guanxi. This may have phenomenally replaced the formal institution, as such affects the success of businesses within the environment.Peng et al (2008) suggest that in economic environments where institutions are week, norms and cognition take over as game changers. This highlights the import of institution based view in IB strategies. Competing In And Out Of India The meteoric rise of India in the area of IT and Business Process Outsourcing (BPO) was attributed to resource and industry based view of IB strategy (Peng et al 2008). These views are based on the opinion that cheap labour, excellent skills and virtuality are major factors responsible for their growth.Nonetheless, institutional considerations are found to be quite relevant in India’s context. Considerations in the areas of education subsidy to top Universities and various economic reforms including liberalisation by government institutions played crucial roles in making India a competitive environment for investments (Peng et al 2008). These institutional references can conveniently stand as the third tripod of the IB strategy. Antidumping As Entry Barriers Market-based variables as noted by Peng et al (2008) have been alleged as the basic entry barriers in IB.Meanwhile non market based institutional variables have been largely ignored in IB startegies.. Trade barriers have come to play important roles in IB strategies. Countries in protecting their local business players against foreign competition usually set up institutional policies aimed at stemming imports by foreign MNEs. These MNEs are alleged to compete unfavourably thro ugh the process of dumping. Davis (2009) citing the 1947 GATT agreement defines dumping as a situation where goods originating from a country are imported into another country at less than normal values.The use of anti-dumping laws by developed countries against MNEs from developing countries is a good example of how an institutional policy could be a tool of trade barrier in IB. Western countries have used this tool of protectionism against competition from Asia quite effectively. The issue here is that when market-based forces fail, antidumping laws could be deployed by local firms to ward off MNEs, thus firming the position of institutional based view as the third leg in the IB strategy tripod. Governing The Corporation In Emerging Economies Corporate governance is highly a determinant in firm performance in developed countries.This is due to the fact that the agency theory focuses on separation of ownership and control. These are exemplified by principal-manager conflicts (Peng et al 2008) quite unlike a lot of emerging economies where principal-principal conflict is the norm. The ability of an MNE to invest in such an environment would mean understanding the value and complexities of concentrated ownership and strategising accordingly. CONCLUSION It is evident from the work of Peng et al (2008) and other researchers that institution-based view has come to occupy the third leg of the IB strategy discourse.It is pertinent to note that the emergence of the institution based view does not in any way diminish the importance of the traditional based views in IB strategy. Instead it complements the traditional views, thus balancing the IB strategy in form of a tripod. It is my opinion that this tripod leverages on industry-based view, resource-based view and institutional-based view for balance. While Peng et al (2008) referenced most of their arguments on developing economies, the institutional effects are found to be applicable in developed countries as well. References Davis L. 2009) ‘Ten years of anti-dumping in the EU: economic and political targeting’. ECIPE Working Paper †¢ No. 02/2009 (Online) Available from: http://www. ecipe. org/media/publication_pdfs/ten-years-of-anti-dumping-in-the-eu-economic-and-political-targeting. pdf (Accessed September 26, 2012) Peng, M. W. , Wang, D. Y. L. & Jiang, Y. (2008) ‘An institution-based view of international business strategy: A focus on emerging economies’,Journal of International Business Studies,  39 (5), July/August, pp. 920–936. (Online) Available at: http://dx. doi. org. ezproxy. liv. ac. k/doi:10. 1057/palgrave. jibs. 8400377 (Accessed September 23) Searle J. (2005) ‘What is an institution? ’ Journal of Institutional Economics (2005), 1: 1, 1–22 (Online) Available from: http://www. laisumedu. org/DESIN_Ibarra/desin/pdf-seminario2006/seminario-2006-04d. pdf (Accessed September 24, 2012) Wong J. (2012) ‘The Guanxi Strategie s of Taiwanese Firms in China’s Economic Reforms’ The Journal of Global Business Management Volume 8 * Number 1 * February 2012. (Online) Available at: http://www. jgbm. org/page/15%20Jeng-Min%20Wong. pdf (Accessed September 24, 2012)