John Maynard Keynes Essay Example | Topics and Well Written Essays - 500 words

John Maynard Keynes - Essay Example If the existing aggregate expenditure level is not adequate to acquire the whole supplied real GDP, output will be reduced until real GDP level is equivalent to the aggregate expenditure level (Morton 2003). Thus, according to Tucker (2008), if the existing aggregate expenditure level is not adequate to acquire real GDP’s normal level, then the real GDP’s equilibrium level will fall at some point below the normal level. If the falling of prices is prevented, then to prevent too much inventory accumulations supplies should cut back the supplied quantity, even though they would be eager to provide bigger volumes at the existing market prices (Morton 2003). This scenario is a case of equilibrium merely in the quite narrow logic that the ‘quantity actually supplied of final goods and services is equal to the quantity demanded’ (Truett & Truett 1998, 71). The multiplier theory determines an exact correlation between the rate of investment and aggregate income, g iven the slight tendency to consume (Morton 2003). Keynes coined the term ‘investment multiplier’ to refer to that internal factor innate in the economic system which transmits, incorporates, and absorbs an outside ‘shock’ (Truett & Truett 1998, 72).

The Historical Evolution of Oncology and Oncology Nursing Research Paper

The Historical Evolution of Oncology and Oncology Nursing - Research Paper Example The Historical Evolution of Oncology and Oncology Nursing As long as there are humans, there is also the occurrence of cancer. Cancer is controlled by many factors: among these is the presence of cancer-initiating genes or oncogenes; and cancer-inhibiting genes or cancer suppressor genes, both of which are normally present in the human genome (Johnson & Gross, 1998). As early as the Paleolithic period, perhaps even earlier than that, some human remains were studied and found out that there were possible identified traces of cancer that protrude as excessive outgrowths in the skull or other bones of the body. Some 2,400 years ago, samples of these tumor growths were present in some Egyptian and Peruvian mummies and were identified as osteosarcomas or a form of bone cancer (Wagener, 2009). Due to the loss of the capability of these cancer cells to stop dividing after reaching a certain mass and cell thickness is reached (density-dependent growth), tumor cells keep on regenerating, divi ding and multiplying until a disorganized clump of cells are formed, which results in the masses of tissue that need to be treated in order to prevent the recurrence of other cancerous cells in other parts of the body (Johnson & Gross, 1998). Since bone is much more easily preserved due to its mineral contents, cancerous and malignant growths in ancient bone samples were much more easily obtained and identified for further analyses (Wagener, 2009). Hippocrates was one of the first to initiate the study of oncology. Although it has barely any scientific bases with regards to the formation and the development of tumor growth, most of the terms being used today in oncology were from his initial descriptions of the different types of masses present in the afflicted patient (Wagener, 2009). The Greek word for tumor is â€Å"oncos†, which is the root word origin for oncology, â€Å"scirrhos† or hard for tumors that felt hard when palpated, and â€Å"carcinos†, or crab as the root word for carcinoma, which were used by Hippocrates as well as his successors in the identification of the different kinds of cancer in patients. Unfortunately, during the early times most of those afflicted by cancer were women, and due to the disfigurement that the malignant tumors cause, instead of getting treatment these women chose to hide their pains, silencing their chances of getting better and just suffering in secret (ibid.). During the establishment of medical schools in the medieval times, post-mortem examinations of patients with different diseases as well as medical autopsies were undertaken to further track down the effects of diseases to the human body (Wagener, 2009). There were also resurfacings of the ancient texts with regards to the diseases of the body, as well as on how to remove them. Galen, whose works were also derived from the findings of Hippocrates, began as the source of ideas in the field of oncology. However, the causes of cancer still all uded most medical experts during this time, and there was no correlation between the hard and enlarged lumps in the armpits of patients and breast cancer. It was only known at that time that cancer was caused by secretions of toxins formed within the body that eventually causes death (ibid.). Only around the early 1700-1800’

Levodopa on Decrease of Plasma Taurine Level in Parkinsons

Levodopa on Decrease of Plasma Taurine Level in Parkinsons Title: Levodopa aggravates the decrease of plasma taurine level in Parkinson Disease Key words: Parkinson’s disease (PD); Oxidative stress; Levodopa; Toxicity; Taurine; Highlights: This is the first study to explore chronic use of levodopa on the change of plasma taurine level. Plasma taurine levels were significantly lower in both treated and untreated PD than in healthy controls. Much lower plasma taurine level was found in treated PD than the untreated. Plasma taurine level was negatively associated with cumulative dosage of levodopa in PD. Abbreviations: PD, Parkinson’s disease; MMSE, mini–mental state examination; DA, dopamine; ROS, reactive oxygen species; MAO, monoamine oxidase; CNS, central nervous system; H2O2, peroxide; SOD, superoxide dismutase; CSF, cerebrospinal fluid; Abstract In recent years, it has gained more and more focus that oxidative stress is implicated in the pathophysiology of Parkinson’s disease(PD) as well as the potential toxicity of levodopa to nigral cells. Also, an increasing body of evidence suggests that taurine plays an important role in anti-oxidant function. This study aimed to investigate the relationship between plasma taurine level and clinical variables and the cumulative dosage of levodopa in PD patients. 44 treated patients with PD (all receive levodopa), 68 untreated patients with PD and 96 age-and sex-matched healthy controls were recruited. Clinical data such as age, gender, duration, Hoehn and Yahr stage and medication history were collected. Approximate cumulative dosage of levodopa was calculated to indicate the toxicity of chronic intake of levodopa. Plasma levels of taurine were measured by HPLC-RF. Plasma taurine levels were significantly lower in both treated and untreated PD than healthy controls. Much lower pl asma taurine level was found in treated PD than the untreated. Furthermore, plasma taurine level was negatively associated with cumulative levodopa dosage in PD. Our preliminary study indicates that taurine may play an important role in pathophysiology of PD and toxicity of chronic levodopa treatment. Introduction PD is the second most common neurodegenerative disorder characterized by selectively loss of dopamine (DA)-containing neurons in the substantia nigra and a concomitant reduction of DA in the striatum. Levodopa, a natural precursor of DA, has been the‘gold standard’ therapy for PD patients for decades [1]. However, the  pathophysiology of PD is up to now still poorly understood. More and more focus comes to that oxidative stress is implicated in the pathophysiology of PD, manifested as protein oxidation, lipid peroxidation, DNA oxidation and so on [2]. Moreover, there has been an increasing concern that levodopa may be toxic to dopaminergic neurons [3-5], mainly because of its potential to autoxidize from a catechol to a quinine and to generate other forms of reactive oxygen species (ROS) [6]. Taurine, an endogenous amino acid (2-aminoethanesulfonic acid), is abundant in excitable tissues such as brain, retina, cardiac muscle and skeletal muscle [7]. Both in vitro and in vivo studies together demonstrate that the anti-oxidative activity of taurine is a vital avenue of cytoprotection [8-12]. Additionally, our previous study has reported that plasma taurine level was decreased in patients with PD [13]. Also, there are lines of evidence that taurine may exhibit cytoprotective effect by acting as a scavenger for harmful free radicals produced by DA or levodopa [14, 15]. However, the precise anti-oxidative mechanism of taurine involved in both PD pathophysiology and putative toxicity of levodopa still remains uncertain. Furthermore, few studies have been done to address the relationship between plasma taurine level and clinical variables as well as the toxic effects of chronic levodopa administration. Hence, in our study, we specifically explored the underlying impact on plasma taurine level because of long-term levodopa intake in PD patients. 2. Patients and methods 2.1 patients Patients with PD, diagnosed based on UK Parkinson’s disease Brain Bank criteria by two movement disorders specialists (Kezhong Zhang and Lian Zhang), were included in this study [16]. Clinical data were collected by the same medical worker and the Hoehn and Yahr stage was used to evaluate the severity of disease [17]. Since the anti-parkinsonian drugs may affect plasma taurine level, thorough medication histories were completely obtained through family and patient recall, personal medical chart, as well as computerized patient information system in our hospital. Exclusion criteria were atypical or secondary Parkinsonism, impaired cognitive status (assessed by the mini–mental state examination (MMSE) [18]), previous neurosurgical treatment for PD, significant laboratory, medical, or psychiatric abnormalities, or any condition that might affect plasma taurine level. Age -and gender-matched controls were also recruited, devoid of neurological disease, poor nutritional stat us, dementia or a family history of PD. The research project was approved by the ethics committee of the first affiliated hospital of Nanjing medical university and all the participants were given a full explanation and consented to the study in writing. 2.2 Calculation of the cumulative levodopa amount In order to assess the underlying toxicity of levodopa , an approximation of the cumulative levodopa amount was calculated based on the following equation (modified according to that ofNagatsuet al. [19]): cumulative levodopa amount [g] =daily amount of levodopa[mg] * duration of levodopa intake [month] *30 [d/month]*0.001[g/mg]. 2.3 Measurement of taurine levels from plasma Plasma taurine levels were measured as previously described [13]. 2.4 Statistical analysis All statistical analyses were performed in SPSSV.20.0 (SPSS, Chicago, IL, USA). The normality of the distribution of all continuous variables was examined by Shapiro–Wilk statistic. Homogeneity of variance was assessed by Levene’s test. Group comparisons were made using chi-square test for categorical variables, and one-way ANOVA as well as the Kruskal-Wallis test which was followed by the Mann-Whitney U test with Bonferroni correction for multiple comparisons (controls vs untreated patients, controls vstreated patients, untreated patients vs treated patients), as appropriate, for continuous variables. The correlation significance was evaluated by Spearman rank correlation coefficient.The statistical significance was set at P 3. Results 3.1. Demographic data, clinical variables and treatment status of PD Patients and Controls The demographic and clinical data of all subjects are summarized in Table 1. Gender and age did not differ among three groups, while the duration was longer (2.90 ±1.50vs. 1.45 ±1.14y, pHoehn and Yahr stage was higher (1.97 ±0.71vs. 1.67 ±0.72, pdetailed information on the treatment status see Table 2). 3.2. Plasma taurine level in PD patients and controls Notably, both treated PD (41.16 ±22.72 µmol/L) and untreated PD (57.38 ±31.05 µmol/L) were found to have significantly decreased plasma taurine levels compared to healthy controls (133.83 ±45.91 µmol/L, P for both comparisons for the two PD groups were considered as a whole, the mean taurine level was also significantly lower than that in the control group (P 3.3. Association between plasma taurine level and clinical variables and treatment status. Plasma taurine levels showed, however, no statistically significant association with age, duration, as well as Hoehn and Yahr stage in treated PD, untreated PD or all patients (Data not show). Interestingly, significant correlation was found between taurine level and cumulative levodopa dosage (shown in Fig.2, rs =-0.351, P Discussion According to our knowledge, this is the first study to explore chronic use of levodopa on the change of plasma taurine level. The major results of this study are summarized as follows: 1) Treated and untreated PD were found to have significantly decreased plasma taurine levels compared to healthy controls. 2) Plasma taurine level was lower in treated PD than the untreated, and inversely correlated with cumulative dosage of levodopa. Taurine, the most abundant amino acid in mammals, is widely distributed in central nervous system (CNS) [20] and its biosynthesis mainly takes place in the liver [21]. In the CNS, the concentration of taurine is dependent on food and a complex transport system at the blood brain barrier [20]. Hence, plasma taurine may partially reflect the pathological change in CNS of PD patients. Firstly, decreased plasma taurine level of patients with PD observed in this study is in line with our previous work [13]. Similarly, there have been some studies reporting CSF (cerebrospinal fluid) taurine level was significantly decreased in PD when compared to healthy controls [19, 22]. Previous studies provide evidence that taurine has a remarkable anti-oxidative function. Furthermore, in a study of PC12 cells, taurine exhibited a protective role against oxidative stress induced by peroxide (H2O2) through the alleviation of endoplasmic reticulum stress [12]. Also, Castro-Caldas et al. [10] reported that pretreatment of TUDCA (an analogue of taurine) abrogated the level of ROS in MPTP-mice, thus further highlighting the anti-oxidative role in vivo and suggesting that TUDCA may modulate the intracellular oxidative environment via interfering with the cellular redox threshold. Moreover, it has been observed that significant increases in glutathione content and superoxide dismutase ( SOD) activity were founded in the livers of the taurine-supplemented 6-OHDA–induced PD rats, which indicated that taurine may increase the defenses against oxidative insult [11]. Collectively, we assume that the decrease of plasma taurine level may result from chronic assumption of oxidants. Therefore, taurine may play an important neuroprotective role in the pathophysiology of PD via its potent anti-oxidative activity. By contrast, both normal [23] and increased [24-26] CSF taurine levels were found in several previous studies. Moreover, no significant decreased plasma taurine was observed in Molina et al.s study [22]. However, studies conductedby Lakke et al. [25, 26], Tohgi et al. [23] and Araki et al. [24] all had some limitations. For example, the controls were not well matched regarding gender and age. Additionally, different sample sizes and measurements may also partially explain the discrepancy of the results. Compared with those previous studies, we recruited relatively more patients in this study. Also, statistical analysis was well performed and measurement used in our study is more stable and sensitive. Nevertheless, we fail to observe correlation between plasma taurine level and age, duration and Hoehn and Yahr in treated PD, untreated PD or all PD. This may result from that only patients with relatively short duration (within 5 years) and low Hoehn and Yahr (within stage 3) were enrolled in our study, and the plasma taurine was probably not sensitive enough to examine the underlying correlation in early to medium stage PD patients. Therefore, further research including more stages of patients would bring more invaluable information on this point. Secondly, treated PD patients exhibited lower plasma taurine level than the untreated. Although the duration was longer and the Hoehn and Yahr stage was higher in treated PD than untreated PD, neither of the two clinical variables was correlated with plasma taurine level in each group. More importantly, plasma taurine level significantly negatively correlated with cumulative dosage of levodopa. These data suggest that chronic treatment of levodopa may affect plasma taurine concentration. Previous studies have shown that levodopa has the capacity to form ROS by autoxidation from catechols to quinines [4]. Interestingly, Biasetti et al. [27] found that taurine attenuated iron-catalyzed quinine formation from levodopa. Also, some studies suggest that taurine may bind these toxic quinones [27, 28]. Furthermore, there have been studies [29] showing that chronic systemic administration of levodopa to rodents depleted taurine pools, suggesting that taurine might play an important role in scavenging oxidants derived from levodopa metabolism in vivo. Therefore, we suppose that chronic consumption of taurine due to oxidants induced by levodopa may partially explain lower plasma taurine level in levodopa-treated PD than the untreated. However, there were different results observed in some other studies. Molina et al. [22] reported that no significant difference of CSF taurine level was found between levodopa-treated PD (n=21) and non-levedopa-treated PD (including untreated PD, n=8). The relatively small sample size may limit its interpretation. Moreover, Diederich et al. [30] found no significant decrease of plasma taurine after acute administration of levodopa. However, the acute levodopa administration may not fully refect the toxicity of cumulative levodopa intake. Nevertheless, our study has some limitations. Firstly, the population in this study is relatively small and the results must be interpreted cautiously. Secondly, as this is only a retrospective study, future longitudinal study combining with biomarkers of oxidative stress will provide more important information on the role of levodopa in affecting the plasma taurine level as a neurotixic agent and of taurine as a anti-oxidative agent. In conclusion, our results showed that decreased plasma taurine level was found in patients with PD in comparison to healthy controls. Moreover, plasma taurine level was found lowed in treated PD than the untreated, and inversely correlated with cumulative levodopa dosage. Combining with previous studies, these data suggest taurine may play an important protective role in pathophysiology of PD and chronic administration of levodopa may have potential neurotoxicity by depleting taurine. Also, our pilot study could, at least, provide new insights into therapeutic strategies.

A Comparison of Beatrice and Hero in Much Ado About Nothing :: comparison compare contrast essays

Compare/Contrast Essays - Comparison of Beatrice and Hero in Much Ado About Nothing In the play of `Much Ado About Nothing', Beatrice is portrayed as a witty and strong willed woman who talks a great deal, appearing determined not to marry. However, Don Pedro concocts a plot that brings her together with Benedick and they marry at the end. She was an orphan, the niece of Leonato. Her most obvious objective is to stay a lonely spinster. She has known Benedick for years and because he wants to be a bachelor their hate for the opposite sex clashes- until they fall in love that is. She never realized that she could love anyone other than her self until she found someone that was the exact copy of her. Once she fell in love she couldn't be helped. The author portrays Beatrice as being very dominant and strong woman. I believe she protects her cousin and her family from the accusation that has been projected towards Hero as this has insulted not only Hero but also her family. When she is in the tabernacle with Benedict and confessing her love for him....she shows her demanding nature by essentially forcing Benedict to choose between the brotherly love of men and the loyalty of a man to his wife. Beatrice knows that she must destroy Benedict's former male bonding. Her order is therefore a command for Benedict to support her against Claudio, and represents the only way for them to have a mature relationship. Although being quite intelligent, Beatrice does manage to appear gullible when she overhears Hero and another woman discussing Benedict and Beatrice's relationship. So this can be seen that Beatrice does have a softer side as well. Beatrice is the ever-witty Lady Disdain, outspoken and opinionated niece of Leonato. She and Benedick are involved in a "merry sort of war". Always ragging on each other in a sort of easy going way, but never the less hurting each other's feelings. Both are cynical about Love. Beatrice is described by her uncle to mock all of her wooers out of suite.

The Amateur Marriage

Anne Tyler’s The Amateur Marriage is a novel depicting two mismatched spouses that continually fight for six decades. They each fail to form their own individual sense of identify. They also do not form a social sense of identity as a couple within a larger community. They each fight for superiority in the marriage as their identity. This paper will examine this long-term conflict, related to each spouse’s quest for individual identity. Several elements form the identity of an individual.Some are biological, stemming from ancestry in nationality, ethnic, and genetic backgrounds; and, from basic human needs of food, shelter, love, and recognition (Richland College, 2007). Other elements are social, including what groups a person joins or tries to join, religious background and conversions to other religions, political leanings, and careers and occupations. One also sees oneself in one way, while others see them in another, making up two identities that usually do not ful ly match.Further, an individual is a son/daughter, spouse/partner, parent, or other relative or friend of someone else, and these are identities as well. One interesting and very strong identity is the one arising from being in conflict with another person or group. Such a person may be, for example, anti child-abuse, anti war-with-Iraq; or against all that his neighbor who has insulted him stands for. The Father of Psychiatry, Sigmund Freud, taught that all identity is biologically developed, completed by the end of adolescence (Richland College, 2007).His student Erik Erickson broke away from Freud, believing that identity forms via social interactions as well as biological maturity throughout the lifespan, not ending in adolescence (ibid. ). Identity is an ongoing process. Erikson devised â€Å"Eight Stages of Man. † These include Trust (infant), Autonomy (toddler), Initiative (child), Identity (adolescent), Intimacy (young adult), Generativity (middle age), and Integrity (older age). Erickson believed that social environment combines with biology (aging) to give people sets of crises to resolve at each stage.Resolving them creates maturity, because one must resolve the crises of one level before going on to the next, or become stuck at the lower level, never to mature and always having the same type of problems, as the main couple in Tyler’s novel do. The couple Pauline and Michael Anton meets in pre-WWII Baltimore. Pauline jumps from a streetcar to join a patriotic parade and suffers a head gash, so she flings herself into Michael’s old family grocery store for help. A more reserved individual, Michael is taken aback by Pauline’s dramatic energy and falls instantly in love.Both in their early 20’s, they marry, but they do not pass adolescence and never develop intimacy. Mike goes to war, is shot in training, and comes straight home. He and Pauline have three children and move to the suburbs. They have numerous conflicts over the years and their marriage stagnates, because they are both stuck in childhood and adolescence, fighting over everything to be known as the winner and the superior partner. Pauline always flies off the handle emotionally, while Michael silently stews over things as mundane as whether it will get cold enough to snow.Nothing is ever solved over 60 years’ time, and the marriage and the individual Antons do not change or grow, either. They cut themselves off from the social interactions that would help them to grow. Their identity was formed by the time they married and never had a chance to develop further, because they would not allow it. They fight, each trying to win in order to be identified as the winner and the leader of the marriage. Then either would feel important, worthy, and adult. Unfortunately, it never happens. Mike is Polish Catholic, Pauline is WASP, and these disparate ethnic and religious identities are hard to meld into a marriage.Pauline believes that two souls should combine as one. Michael feels that they should remain distinct, but walk in the same direction. The marriage cannot work, because neither will learn additional new ways of thinking. Thus, for six decades, she is flighty, he is cold, and they remain constant in this. While marriages of their friends grow and develop via individual maturity and interactions as a couple through the usual give and take with a larger community, the Anton's marriage is stuck because of their feuding. Life passes them by, except for the problems.The Antons and their marriage cannot grow up. The author describes the friends’ growing marriages as fruit trees: â€Å"Marriages are like fruit trees†¦ After a time they meld, they grow together, and it doesn't matter how crazy the mix is, peaches on an apple tree or cherries on a plum tree; still if you tried to separate them you would cause a fatal wound. † Meanwhile, the Anton's marriage is a â€Å"gnarled, wizened, whiskery tree you see on windbeaten cliffs where there's not enough soil or water. † The marriage is anorexic, starving to death.Pauline, who once loved Mike’s reserved qualities â€Å"chafed daily at . . . his rigidity, his caution, his literal-mindedness . . . his reluctance to spend money, his suspicion of anything unfamiliar, his tendency to pass judgment . . . and his magical ability to make her seem hysterical† (p. 75). Michael’s opinion of Pauline becomes â€Å"a frantic, impossible woman, so unstable, even in good moods, with her exultant voice and glittery eyes, her dangerous excitement† (p. 167). Neither one is concerned with self-development, but only with criticizing the other.Over the decades, they become entrenched in these mindsets and unable to develop past their mid-twenties, psychologically. The miss all of the intimacy, generativity and integrity by holding onto adolescence. In identity, they are only â€Å"the fighting spouses. † When he does think about the marriage and where it is going, Mike sees that â€Å"all those young marrieds of the war years† have grown â€Å"wise and seasoned and comfortable in their roles, until only he and Pauline remained, as inexperienced as ever — the last couple left in the amateurs' parade† (p.168). He saw themselves as â€Å"more like brother and sister than husband and wife. This constant elbowing and competing, jockeying for position, glorying in I-told-you-so† (p. 168). Further, the Anton’s drug-abusing daughter Lindy sees the family as a stagnated hell, a â€Å"wretched, tangled knot, inward-turned, stunted, like a trapped fox chewing its own leg off† (p. 300). The marriage is stuck, as well as the family. In dysfunctional families, some members develop identities despite the stagnation and toxicity.The development of such an identity, a â€Å"hardy personality†, is described by Professor Suzanne Kobasa Ouellette of City University of New York (Richland College, 2007). Hardiness and its needed control, commitment, and challenge develop through attaining the following eight skills: 1. Recognize and tolerate anxiety and act anyway. 2. Separate fantasy from reality and tackle reality. 3. Set goals and establish priorities. 4. Project into the future and understand how today's choices affect the future. 5. Discriminate and make choices consistent with goals and values.6. Set boundaries and limits. 7. Ask assertively for wants and desires. 8. Trust self and own perceptions. Some dysfunctional people achieve these skills through study and counseling, but the Antons do not. Even when they decide to parent their small grandson Pagan, whom they rescue from the drug culture, they cannot reconcile their entrenched differences. Pauline believes their fights can be patched up in a â€Å"firefighting† management technique. Michael sees these fights as hellfire itself. Mike and Pauline decide just to toler ate each other, until Michael leaves.Even though it is possible to develop self-identities through conflict, Mike and Pauline are not able to do so, because they do not stop fighting in order to find social interactions as a couple (clubs, volunteer work, etc,), and counseling that would help them grow. They remain in the adolescent stage in their mid-60s. At this age and firmly entrenched in adolescence, it may or may not be too late for humans to grow further psychologically. REFERENCES Kriesberg, Lewis. , PhD. ‘ â€Å"Us† versus â€Å"Them. † ’ 2003.From the website of Beyond Intractability: A Free Knowledge Base on More Constructive Approaches to Destructive Conflict: http://www. beyondintractability. org/essay/identity_issues/ Retrieved Feb. 25 2007. Richland College. Dallas County Community College District. 12800 Abrams Road, Dallas, TX 75243-2199. â€Å"The Developmental Psychology of Erik Erikson. † From the Richland College website: http:/ /www. rlc. dcccd. edu/MATHSCI/anth/P101/DVLMENTL/ERIKSON. HTM/ Retrieved Feb 25 2007. Tyler, Anne. The Amateur Marriage. New York: Alfred A. Knopf. 2004

Bachelor of Arts Essay

1.1 FedEx Corporation Overview FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of US$ 27 billion, the company offers integrated business application through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 250,000 employees and contractors to remain â€Å"absolutely, positively† focused on safety, the highest ethical and professional standards and the needs of their customers and communities. 1.2 Strategic Initiatives Currently, with its exposure to volatile fuel prices, high capital expenditures, and thin margins, FedEx can not stand up to the rigorous rule maker quantitative criteria, but its brand power is a perfect example of a sustainable competitive advantage. FedEx ships over 3 million packages a day. Along the route, those packages, the planes that carry them, the trucks that deliver them, and the people that handle them leave impressions on customers. FedEx recognizes that with every box it delivers and every person that delivers it, a brand impression is made. Brand equity is certainly significant to FedEx since its products and services are less differentiated in this fast changing dynamic competitive market. To remake the corporate image in order to extend and enhance its brand equity is one of the key strategic initiatives that has initiated by the management of FedEx Corporation recently. Other strategic initiatives are to focus on the growth of core package business and supply chain capabilities, and growth through e-commerce and technology, and new services and alliances. 2. DESIGN OF HUMAN RESOURCE MANAGEMENT SYSTEM 2.1 HRMS of FedEx FedEx Human Resources develop policies, programs and procedures that not only attract, but also retain the most qualified, talented and diverse employees. To this end, Human Resources have implemented successful recruitment, development and Employee relation programs. The Corporate HR function consists of 45 employees who provide human resources support for the entire FedEx Organization. The overall headcount for this team has not changed in over four years even though the employee base has grown by greater than 30%. Most key programs are linked to the company’s diversity strategy to build value and manage a diverse workforce that reflects the rich mix of persons available in the Communities. The HR team regularly attends diversity recruiting career fairs and supports both local and national organizations committed to the development of women and minorities. HR has sought to automate and introduce electronic processes, in order to streamline its various staff function. These include the introduction of an electronic company wide web based Internal Career Opportunities Program (ICOP), that provides employees anytime/anywhere access to available opportunities within the company. Employees can search, apply and be notified of open positions within the organization by logging on to the site. Managers, can also initiate the employment process and receive approval electronically via an on-line employment requisitioning process. The major obstacle that needed to be addressed in the alignment of these two major programs was accessibility, communication and education. Employees were encouraged to submit their personal profiles so that they could receive automatic notifications from the system when positions for which they qualified became available. FedEx has developed a proactive staffing model for its facilities. This program allows the Field organization to add management staffing before the need exists. Recruiting, sourcing and training are done 20 weeks before the individual is expected to begin their career as a service manager. By accessing the HR website, both employees and Managers can obtain a wide variety of information geared to keep their employment information current, provide easy access to employment information (employee handbook) as well as provide access to benefits information and employee centered programs. Online access to the HR Web is available from home and work to all employees. 2.2 VRIO Framework Analysis Value FedEx managers stress that they are a â€Å"people-first† organization. The corporate philosophy statement sums up their view of the source of competitive advantage: â€Å"People-Service-Profit. FedEx discovered a long time ago that customer satisfaction really begins with employee satisfaction. In other words, the FedEx philosophy is that people are the primary link in the value chain, and thus, value is created by focusing on employees first. Rareness FedEx value and capitalize on the differences of their employees with diversity education programs such as Gender Speak, Delivering Diversity, Introducing Diversity, and Valuing Differences. One of its most successful programs RESPECT provides a process where employees can work together to resolve their differences. Therefore, it would exercise tremendous potential to exploit the rare characteristics of its employees for competitive advantage. Imitability FedEx worked closely with the University of Memphis, established the FedEx Institute of Technology, a unique public-private collaboration designed to advance world-class interdisciplinary research and introduce a new generation of highly skilled graduates to the workforce. The company has more than 219,000 employees globally and expects the alliance will help develop a highly skilled recruitment pool. Organization FedEx is committed to fostering an employee focused culture. It has a well-developed and thoroughly deployed management evaluation system, which involves a survey of employees, analysis of each work group’s results by the work group’s manager, and a discussion between the manager and the work group to develop written action plans for the manager to improve and become more effective. Data processed are aggregated at all levels of the organization for use in policymaking. Employees are free to share their opinions with management and in turn, work towards the resolution of internal issues within their department by participating on their action planning teams. 3. EMPLOYEE SKILL, MOTIVATION, JOB DESIGN & WORK STRUCTURES FedEx has a clear goal to have people who are committed, motivated and well trained. Here are some of the tools and techniques that they have developed: 3.1 Selection FedEx Corp is proactive targeting of candidate sources leads to a richer pool of applicants and enables company to reach better candidates faster. They worked closely with the University of Memphis, established the FedEx Institute of Technology, a unique public-private collaboration designed to advance world-class interdisciplinary research and introduce a new generation of highly skilled graduates to the workforce. FedEx had created a multi-national, multi-lingual recruitment assessment system in identifying candidates most suited to the jobs on offer and capable of operating to the company’s global standards and values. 3.2 FedEx Compensation & Rewarding System FedEx’s bonus program is driven by goal sharing. This program encourages employees to achieve strategic goals by basing individual bonus levels on corporate and business unit goals, up to 10% of an employee’s total compensation. FedEx’s formula for calculating bonuses includes corporate variables such as contributed operating margin, corporate ROE, net sales, customer returns, shipped kilometers and total unit cost. Putting people first means that FedEx is dynamic in both reward and recognition. For hourly paid staff the pay is geared to individual performance. However, to encourage good team working, there is also a team based ‘Best Practice Pays’ element. The pay for performance of salaried staff is based upon measures relating to the company’s key philosophy. 3.3 Performance Reviews FedEx is a very performance-based company. Every person knows upfront what his performance objectives are and he also knows upfront what he can earn. So the crux of People Service People is a fairly laborious performance management and compensation system. If a person fails in his performance, then the person does not get disciplined, but he gets pulled into a constructive action plan. Employees are encouraged to identify their weaknesses through a personal development programme (PDP). These could be general things like communication skills or dealing with conflicts in the workplace. FedEx has an online training library with 600 courses on things like leadership, project management skills, even something as basic as presentation skills. Employees can log in and take any course, but need to pass. 3.4 Staff Survey The annual staff survey is considered to be one of FedEx’s biggest business improvement tools. A total of 32 questions are answered electronically in business time over a period of two weeks and participation has increased from 97% to 98%. 4. PRODUCTIVITY, CREATIVITY & DISCRETIONARY EFFORT By competing collectively under the FedEx banner, FedEx in service companies benefit from one of the world’s most documented brands. FedEx is one of the most trusted and a respected brand in the world and its brand name is a powerful sales and marketing tool. Among the many reputation awards FedEx conventional during 2004, FedEx ranked seventh in â€Å"corporate reputation† on The Wall Street Journal’s Harris Interactive/Reputation Institute RQ Gold Survey, and for the third consecutive year, FedEx ranked in the top ten of FORTUNE magazine’s â€Å"America’s Most Admired Companies† and â€Å"World’s Most Admired Companies† lists. FedEx is the only transportation company and one of the very few companies overall to rank this highly in all three reputation surveys. FedEx ranked highest in customer satisfaction in the University of Michigan Business School National Quality Research Center’s American Customer Satisfaction Index in the parcel delivery category. Wal-Mart Stores, Inc., the world’s largest retailer, also selected FedEx as the recipient of its â€Å"Carrier of the Year† award. BusinessWeek recognized FedEx Kinko’s in the magazine’s â€Å"Web Smart 50† report for the company’s innovative use of Internet technology to transform business processes and reduce costs. FedEx is well recognized as a leader, not only in the transportation industry and technological innovation, but also in social and environmental responsibility and corporate governance. Along with a strong reputation among customers and the general public, FedEx is widely acknowledged as a great place to work. In 2004, FedEx was listed among FORTUNE’s â€Å"100 Best Companies to Work for in America,† a list that FedEx have made every year it has been published. It is FedEx people-FedEx greatest asset-that give FedEx it strong reputation. In addition to superior physical and information networks, FedEx has an exemplary human network, with more than 240,000 employees and contractors who are â€Å"absolutely, positively† focused on safety, the highest ethical and professional standards and the needs of their customers and communities. Through FedEx internal Purple Promise and Humanitarian Award programs, FedEx recognize and reward employees who enhance customer service and promote human welfare. 5. IMPROVED OPERATING PERFORMANCE As discussed previously, new strategic role for HRM is very significant for the organization’s advancement. System thinking among the line and HR manger is the first step. The performance management and incentive compensation system must define desire employee behavior and reward those behaviors in meaningful way when goals are achieved. Almost 50% of all FedEx spending goes to employee pay and benefits. Many Special Awards to recognize employees’ performance: i) Bravo Zulu – award for outstanding performance beyond normal job expectations. ii) Golden Falcon – award for exceptional customer service. iii) Humanitarian Award – recognition for human welfare above and beyond work or community standards. iv) Star/Superstar Award – a lump sum merit based award for top performers. v) Five Star Awards – the highest award for enhancing service, profitability and the spirit of teamwork. Deadly combination and powerful connection are terms to describe the effects of an organization policy of promotion from within on firm performance. But probably not be present in every firm or even most of firms. So the only way that the organization can hope to identify the HR system properly is to adopt system perspective, which means business priorities drive the development of the HRM system. 6. PROFITS AND GROWTH Base on the FedEx second quarter’s Fiscal 2005 financial report (six months ended November 2004), it shows that FedEx has adapted an effective and efficient HRM system, which has brought up the corporation’s profit and growth. This is evidential by the following financial analysis:- i) Revenue There is a 23% Revenue growth compare to the last 2nd quarter fiscal year 2004. The revenue has increased from US$11,607 billion to US$14,309 billions in this 2nd quarter fiscal year 2005. FedEx announced that they would expect to have Group Revenue of US$ 27 billions this fiscal year 2005, which is a 9.5% growth. ii) Salary & Employee benefits Cost However, in term of Human Resources cost, we can see from the report that it is only an increase of 14%. Compare to 23% increase in revenue. The increase is justifiable. iii) Net Profit FedEx has shown a 212% increase in the Net Income this fiscal year compare with last 2nd quarter, from US$219 millions to US$684 millions, despite the roaring up of oil price, which is also one of the major operating cost, in this year. Their profit result is definitely considered outstanding. iv) Diluted Earning Per Share Obviously, with the high increase of the net income, the diluted earning per share is automatically increase by 210% compare to last 2nd quarter. It is definitely a kind of the positive effect of the HR- Stakeholders value relationship. v) Revenue generated per Employee Based on the US$27 billions Group Revenue generated by the total 250,000 number of employees in FedEx, we will be able to see that the revenue per employee generated is nearly US$108,000. Which is much higher than the world largest package delivery company – UPS, who has an annual turnover of US$30 billions and 370,000 employees worldwide, and the revenue generated per employee is only US$81,081. The productivity is much better. This has shown the efficiency and effectiveness of the HRM system. 7. MARKET VALUE From the study of FedEx Corp’s HRM system, it is undoubtedly that its HRM has strategically adopted high performance work system that creates real shareholder value. Such system has strengthened FedEx HR to become a strategic core competency and have an economically significant effect on firm performance. This also generates the transformation from HRM to human capital management and hence becomes to be a competitive advantage. The consistent increased profits and growth as shown in the company’s financial reports has also proved that FedEx HRM has created value and played an important role in the company’s achievement and success. FedEx shareholder market value has increased continuously as shown clearly in its financial statements. However, company’s HR market value has never been officially computed and shown in the financial statements. Based on the company productivity, FedEx’s each employee generates revenue of approximately US$108,000 quarterly, which is much higher than the world largest package delivery company – UPS, whose per employee generates revenue of only about US$81,081 quarterly. 8. CONCLUSION For FedEx, timing is everything. Delivery on time is essential, and within FedEx, ensuring this performance every time, has meant the transition to systems that provide online, real-time connectivity, bringing improved business processes and increased productivity. With unrivalled logistics solutions, FedEx turned to its Human Resources function, to leverage its competitive advantage. In such a geographically diverse and disparate region, FedEx strives to manage its human capital by minimizing administrative burden and creating a culture of effective self-management. With employees spread across the Region, and in line with its organization’s move to an Internet-centric company, FedEx was continuously looking for ways to empower its employees, and allow them to take control of some of their HR functions. Leveraging on PeopleSoft HRMS solution to effectively manage their human capital, it provided FedEx with the scalability and functionality they needed, to enable FedEx to move towards becoming a Real-Time Enterprise. FedEx employees were fully utilizing their self-service functions, and their HR staffs are now free to deliver a more strategic output to the business. They have increased the visibility of HR information to more effectively manage the enterprise’s most valuable resource – human capital. APPENDIX A: BIBLIOGRAPHY Relevant Reference Sites: * www.fedex.com * www.fedex.com/us/investorrelations/2003annualreport/ * www.fedex.com/us/investorrelations/downloads/ * www.fool.com/portfolios/rulemaker/2001/rulemaker010502.htm * www.incomesdata.co.uk/studies/hrmansystems.htm * www.stevieawards.com/pubs/awards/70_1438_8395.cfm * www.findarticles.com/p/articles/mi_hb001/is_200309/ai_hibm1G1107999043 * healthproject.stanford.edu/koop/Federal%20Express/description.html * www.hoovers.com/fedex-corporation/–ID__10552–/free-co-factsheet.xhtml * online.wsj.com/ad/fedex/ * moneycentral.msn.com/investor/research/profile.asp?Symbol=fdx * www.humanresourcesmagazine.com.au/articles/19/0C029319.asp?Type=60&Category=1162 * www.bizjournals.com/memphis/stories/2004/08/09/daily3.html * www.quality.nist.gov/FederalExpress_90.htm Evaluation of the Stakeholder Value Relationship Model Assignment BA361 – Human Resource Management Page 2 of 12