Cross Border Insolvency Free Essay Example, 1250 words

Topic: Cross Border Insolvency Instructions: Question: In relation to the respective >rescue= processes of the insolvency law regimes of USA, Australia and UK, outline: a ) common characteristics b) any significant differences In any case: c) how compatible are those processes d) how would the event of any incompatability affect the development and employment of a cross border recognition and assistance law between those jurisdictions Perhaps one should, from the outset, seek to clarify what is usually meant by the term >rescue= in the various legal regimes under consideration. Some legal regimes refer to the concept of rehabilitation. However in most cases, the latter concept is taken to refer to the rehabilitation of the person who would have been engaged in business and who >finds= himself in a situation of an inability to satisfy his debts. Within the more advanced legal systems when the latter deals with insolvency and bankruptcy, one usually finds a mechanism which would come in force given certain predetermined circumstances. This mechanism has the scope of actually attempting to minimise the various not so desirable effects, both on the individuals concerned as well as on the business units involved, which a situation of insolvency brings about. We will write a custom essay sample on Cross Border Insolvency or any topic specifically for you Only $17.96 $11.86/pageorder now It can be said to be a recognition of the fact that a situation of insolvency not only effects the person or company who or which is going through a process of bankruptcy but ultimately effects also the economy as a whole. In fact the amount of bankruptcies currently being undergone within a country is usually taken as an indication of how well that particular economy is faring. In the UK a review Group within the Department of Trade and Industry and HM Treasury opined that the trend seems to favour furthering the rescue culture. Whenever possible emphasis should be laid on the assisting of companies in order that the latter might be placed in a position to as much as possible overcome what may in the ultimate analysis be temporary financial difficulties. It is submitted that in these types of situations, the problem is to assess exactly how temporary is temporary and numerous instances occour when what started off as being temporary resulted in the end of being permanent. In that report the emphasis seemed to be placed on the possible avoidance of liquidation and towards the furthering of a culture of a predisposition towards the preservation of a business unit as a going concern1. Before the coming into force of the 1986 Insolvency Act in the UK, there were three kinds of liquidation procedures, namely members, creditors= and compulsory when the company was insolvent.

Essay about Lung Cancer Research - 1879 Words

â€Å"Lung cancer continues to be the leading cause of death in both men and women in the US, with over 158,900 deaths in 1999. Worldwide, lung cancer kills over 1 million people a year. Extensive prospective epidemiologic data clearly establish cigarette smoking as the major cause of lung cancer. It is estimated that about 90% of male lung cancer deaths and 75–80% of lung cancer deaths in the US are caused by smoking each year† (Hecht, 1999). Clearly, lung cancer is an important and widespread disease that constitutes a major public health problem. This was not always so. Some 150 years ago, it was an extremely rare disease. In 1878, malignant lung tumors represented only 1% of all cancers seen at autopsy in the Institute of Pathology of the†¦show more content†¦In the 1950s Doll and Hill in England and Cuyler Hammond and Ernest Wynder in the U.S. provided further evidence for a causal association between smoking and lung cancer. Yet, it took a long time until the truth was fully accepted. Smokers, including many physicians, who enjoyed cigarettes could or would not want to imagine or refused to believe that the habit (addiction would be more appropriate) was detrimental to their health. In this context it is interesting to note that 2 personalities who helped like few others to make us aware that chemicals in the environment could cause cancer, strangely failed to grasp the impact of smoking. Wilhelm C. Hueper started out as a physician in industry. By repeatedly and doggedly pointing out possible links between exposure to chemicals in manufacturing processes and the increased incidence of cancer in workers he became unpopular with management, to the extent that on some occasions he was barred from presenting or discussing his findings and conclusions. And yet he maintained that smoking was not a factor in the etiology of lung cancer in humans. Rachel Carson, who in her Silent Spring warned of impending disaster of cancer caused by envi ronmental chemicals never mentions tobacco smoke. Since then, tobacco smoke has become not only the most important carcinogen in our environment, but probably also the only one where we could accomplish—and in many places actually already haveShow MoreRelatedResearch Problem Lung cancer is the growth of abnormal cells in the lungs. This abnormal growth can900 Words   |  4 PagesResearch Problem Lung cancer is the growth of abnormal cells in the lungs. This abnormal growth can occur in either one of both of the lungs. The abnormal cells cause the development of unhealthy lung tissue, which causes the lungs to not function properly. The main function of the lungs is to provide oxygen to the body via the blood. Some of the symptoms of lung cancer are a persistent cough, shortness of breath, recurrent pneumonia, change in sputum, and coughing up blood (What is Lung,). LungRead MoreResearch on Lung Cancer Risk Factors370 Words   |  2 Pagesï » ¿The reason the majority of this research on lung cancer risk factors can be dated to the 1990s is because this period was defined by an increased societal awareness to the adverse health effects of smoking tobacco. During the 1990s, over 40 states filed federal lawsuits against major American tobacco companies, and the growing involvement of the Surgeon Generals office motivated many independent researchers to narrow their focus to lung cancer and its causes. Furthermore, this period of timeRead MoreLung Cancer: Research Project Review533 Words   |  2 Pages In order to fulfill the requirements of the assigned project, our group performed research related tasks. Research is ultimately about assigning facts, figures and arguments to larger ideas for practical reasons that hopefully produce more benefits than not. Our groups topic deals with the disease of lung cancer. In our quest to learn more about this reality of life, it became necessary to implement the research process to further our knowledge and complete the necessary requirements of this projectRead MoreLung Cancer: The Relationship Between Gender, Age, and Ethnicity830 Words   |  4 PagesHINTS is an acronym for Health Information National Trends Survey and its purpose is to collect cancer-related data on a national level (HINTS, 2007). The goal of HINTS is to assess how information pertaining to cancer is accessed, how the risk of developing cancer is viewed by the public, how the course of communication has changed, and how the patterns of health has changed through the course of the past several years (HINTS, 2007). Once data has been collected, researchers are able to gain a betterRead MoreLung Cancer Term Paper1559 Words   |  7 PagesLung Cancer Week 6 Term Paper for Professor Inglis Kelvin Samuels Introduction My topic for this term paper will be lung cancer. This topic was chosen because I have pass family whove lost their lives to lung cancer. I believe the best way to start is by defining the disease. We will then take a glance at statistics and risk factors for lung cancer. Next will look at lung cancer symptoms, staging and treatment, and finally I will draw my final conclusion. I. What is Lung Cancer? A simple andRead MoreLung Cancer1476 Words   |  6 PagesThe Genetics of Lung Cancer Catherine Hayworth BIO 355A/357A June 14, 2012 Colorado Christian University Cancer can be one of the hardest battles that one must face, whether that battle is lost or won, it changes the lives of everyone involved. Lung cancer is one of the most diagnosed cancers and it affects the lining of the lungs and the ability to breathe. Lung cancer is the number one killer of men and women than any other cancer worldwide. This cancer is mostly found in smokers andRead MoreThe Effect Of Nanoparticles On Lung Cancer1323 Words   |  6 PagesThe Effect of Nanoparticles on Lung Cancer As time has gone on, the search to find a cure to lung cancer continues to this day. Researchers and scientists have spent years constructing numerous labs and tests trying to find an answer to the age old disease that has taken the lives of thousands. Lung cancer involves the rapid growth of unknown cells in the lung region. Unfortunately, similar to many other forms of cancer, it is difficult to detect symptoms at an early stage. In most cases, patientsRead MoreCancer : A Disease That Caused By Uncontrolled Division Of Abnormal Cells Essay1617 Words   |  7 Pages Lung Cancer Melissa Flores St. Pius X St. Matthias Academy General Biology, Period 4 Ms. Washington  Cancer General Information Cancer is a disease that is caused by uncontrolled division of abnormal cells in the part of our human bodies (American Heart Society [AHS], 2015). There are more than 100 diseases that have to do with cancer. In the world today, hundreds of people are diagnosed with cancer . Cancers that are untreated can cause serious illnesses and deaths. Cells in theRead MoreCause And Effect Of Lung Cancer Essay1334 Words   |  6 Pages Lung cancer is one of the most lethal cancer known throughout the world. The most common suspect of that is smoking, then what happens to the people who inhales the smokers’ smoke? Are they also at risk for developing lung cancer from being a victim? The answer to that right now is that secondhand smoke alone is just a risk factor, there are no evidence right now that currently show that secondhand smoke alone can cause lung cancer by itself. This means that we need to encourage studies that areRead MoreAssociation between Air Polluiton and Lung Cancer761 Words   |  3 Pagesepidemiologic studies have found an association between ambient air pollution and lung cancer. This evidence lead the International Agency for Research on Cancer (IARC) to report air pollution as a category 1 or definite cause of cancer. The IARC reviewed over 1000 studies from five continents and covering many different scientific fields. They concluded that air pollution is linked to increased cancer i ncidence, with lung cancer being the most prevalent (Pope, 2013). Air pollution occurs when the air is

My Lai Massacre free essay sample

The Massacre At My Lai Starting in 1964, the war at Vietnam seemed necessary and useful, in the minds of the public. After years of combat, the American opinion slowly worsened, and by 1967, the war was highly questionable. The public support was completely lost after the information of the gruesome massacre at My Lai was leaked. During all of this, the American public was trying to figure out how the Americans who partook in this event became so evil. While secondary sources provide information about the United States soldiers, the details of the My Lai Massacre, and the trial of Lieutenant Calley, oral history grants the historian a wider perspective by showing the soldiers’ motives for revenge and the emotions of those involved. The United States soldiers in Vietnam experienced a war unlike any other in America’s history. One of the main reasons that this war was so different was that the conditions of the soldiers were so terrible. One soldier described what it was actually like living in Vietnam. We lived out in the jungle and patrolled three villages. We moved from one village to another all the time. You didnt want to stay in one spot for too long. The enemy would try to find out where we were and try to ambush us. So, usually at about 2 a. m. we started to move around from one village to another† (Alex Ditinno). This man shows how terrible their living conditions are. After having a constant fear of being ambushed, having to sleep in dirty and uncomfortable environments for days, and having to wake up in the middle of the night to leave villages, the soldier’s minds are going to be effected. The average age of a soldier in the war was nineteen years old. Before their brains are even fully developed they experience such atrocities that they grow an enormous hatred inside. The only people that they can bring out that hatred on were the Vietnamese. The enemies were known to the Americans as the Viet Cong. They were different than in previous enemies in that an American soldier could never tell if they were the enemy, or not. They would blend into society so well that everybody would just see them as civilians, until or course, when they came out at night as Viet Cong ready to kill any American in sight. They were known as â€Å"Rice farmers by day, guerillas by night† (Al Doyle). In not knowing who the enemy was, there were often misunderstandings, leading to mass murder of civilians. In an attempt the not kill civilians, many soldiers tried to be lenient in their killing, and only kill when absolutely sure it was the enemy, which didn’t happen too often (Vietnam War: Oral Histories). One soldier had an unbelievably remarkable experience with this. â€Å"We found this young womanin her  early 20s at most lying on the road as we swept it for mines†¦Ã‚  She had been shot at point blank range sometime during the night. It was alleged that she was a Viet Cong sympathizer†¦ It was hard to believe someone as young and innocent looking as she could be the enemy but we soon learned that we could never be sure who to trust. She was the first dead person I ever saw in my life, but there would be many more† (Steven Curtis). This man had just entered war and the effects of it had just started. Supposedly this woman was an enemy, but he never could have known that. Of all of the people in his village, she was one of the least suspicious, though one could never tell with the Viet Cong (The Enemy). The Viet Cong, although only at night, were fierce, and sneaky fighters. The Viet Cong mainly used methods of booby traps and rocket firing. Since they were so sneaky, they would rarely go up and shoot somebody with a gun, and risk the loss of their own death. One man experienced a terrible form of this. â€Å"We received shelling (rocket fire) constantly every day. We had to live underground in trenches. We had to live with the rats† (Tom Hall). This man withstood constant rocket fire without being able to do anything. Killing people wouldn’t help him to relieve his anger, because he would never be able to know who to kill. He lived in the dirty trenches for days, with nothing to do, but wait for it all to be over. The Viet Cong also used mines. They would lay them all over the forest and the Americans would never know where was safe. Since the Viet Cong lived there, they had an advantage in knowing where everything was, and being able to cope with the forest environment. Nobody could see in the forest at night, so not knowing the area was a huge disadvantage. One man couldn’t even differentiate a human being from a dog in one of his experiences at Vietnam. â€Å"We waited all night and we shot at them, but most of the time you couldnt see what you were shooting at†¦ Early the next morning, the bushes started rattling and we out loaded in the bushes. It ended up being a dog† (Larry MacIntire). After this man and his group thought they were shooting at the enemy all night, it turned out that they had only shot at a dog. Their efforts had been diminished, and what they were fighting for became useless. The Viet Cong were cruel fighters and killed many Americans without even being noticed (Vietnam War: Oral Histories). What Charlie Company did was a terrible thing, but could not be blamed entirely on them because they didn’t know exactly what they were actually doing. In the many weeks before the massacre, the group had suffered many deaths via mines, and other booby traps. After going through so much Captain Hodges decided it was enough. He stated, â€Å"This was a time for us to get even. A time for us to settle the score. A time for revengewhen we can get even for our fallen comrades. (Captain Hodges). Although now it might seem terrible that they let out there anger by killing innocent people, it was not known at the time that they were innocent, and they simply wanted to kill the enemy. The exact details of the mission were to search and destroy everything in the village. Everybody was ordered to kill everybody in sight, because they were thought to be Viet Cong. Most o f the men killed people out of their sheer anger, but not one of them killed as much as Lieutenant Calley. He got more than one hundred people and forced them all to go into a ditch. He shot, and killed every single one of them. He even shot a baby right in the head at point blank. (Massacre at My Lai) On that March 16th 1968, 504 people were killed. Fifty of whom were younger than three, sixty-nine were between the ages of four and seven, ninety-one were between eight and twelve, and twenty-seven were in their seventies of eighties (People Killed in the Massacre). The massacre had a lasting effect on the men both mentally and physically, and on America’s opinion on the war. After the massacre, the public opinion on the war went down. Although the government tried to cover it up, the public got a hold of the pictures and it was instantly the most important things in all of the newspapers. Titles were posted on front pages like â€Å"Viet Mass Slaying† (The Plain Dealer). Although, while the public was so obsessed by how terrible the people were, they did not understand what they had gone through. They did not understand how difficult it was to see who the Viet Cong were. All they saw were murderers so became known as the bad guy, just for a bad mistake. In turn, this made the public hate the whole entire war. The massacre also had a mental effect on the people who fought in it. Most of them had killed innocent people, and did not even know what they had done until it was over. For the rest of their lives, not only the American public, but they will look at themselves as monsters (Massacre at My Lai). One person was an everlasting effect called post traumatic stress syndrome. â€Å"When a person has Post Traumatic Stress Disorder (PTSD) and is in a situation where theyve been drinking or using drugs, their judgment is impaired† (Vince Baron). This man withstood so much, that with a little bit on alcohol his memories come back to him. AS with most Vietnam veterans, they never forget what happened to them in war. They carry it with them everywhere, and if something happens to make them angry, they will go insane. While there are some people who take there experience at war in this way, there are others who end up taking a better approach towards it. Many of the men got their inspiration from war, and believe that war itself made them a man. This man believes that that war, and his experiences at My Lai changed his life around, but in a good way. â€Å"When I came back, I was much more serious about life. I knew how easy one life could be taken away from you. It wasnt important to be out partying. It was important to do something with your life and try to make a difference. So, when I came back from Vietnam, I went to college; that was my whole plan. I went to college year round and I didnt stop until I got my Masters. I earned my Bachelors and Masters in four years because that was my plan. I didnt need to stop† (Tony Taylor) Unlike most of the veterans, especially those who were a part of My Lai, he took a different approach by trying to forget what happened in the war, and My Lai, but remember the lessons that he learned. While sometimes having a mental effect that was encouraging, or hindering, all My Lai veterans were left with some mental difference (Vietnam War: Oral Histories). While that was apparent, only one person suffered a physical effect that day. That man was a recent recruit in the army. He was still in his young twenties, but he couldn’t take the massacre any longer. He shot himself in the foot and bled to death, just to evade the sight of it (Massacre at My Lai). Lieutenant Calley got what he deserved for the murder that he committed, but everybody else was let off easy. After the massacre had been over for a few months, the court marshaling begun. There were over 100 people who were investigated to see if they committed war crimes. Of those people, only thirty were sent to trial. Of all those men, only one man was actually sentenced to prison, this man was Lieutenant Calley (Massacre at My Lai). Lieutenant Calley’s trial was so complicated, and needed so much time to display all of the evidence, that it ended more than three years after the actual massacre at My Lai. When it started, Lieutenant Calley was charged with murder of â€Å"Oriental Human Beings† (William Calley Court-Martial). Although they were clearly thought of as sub-human, they were still human and similar rules applied toward killing them. Everybody came into the court with a tainted opinion after seeing his televised interview. In that interview, he was exposed and everybody knew that he had committed murder. His argument, which was quite valid, was for the most part this: â€Å"I was ordered to go in there and destroy the enemy. That was my job that day. That was the mission I was given. I did not sit down and think in terms of men, women, and children. They were all classified the same, and that was the classification that we dealt with, just as enemy†¦ I felt then and I still do that I acted as I was directed, and I carried out the orders that I was given and I do not feel wrong in doing so. † Although he was right in that he was ordered by a higher officer to kill everybody in sight, he did worse than that. He killed the most out of everybody, he killed babies, he killed them even after he knew that they were civilians and not related to the Viet Cong at all. The Captains orders could be inferred that you should stop killing if you understood that they weren’t the enemy. Since he neglected the obvious fact that they were civilians, and just thought of them as sub-human, just because of their race, he was sent to jail. Although, the court did take into account that he was ordered to kill. Although he killed over 100 people, he was only charged with killing twenty-two. It was assumed that by the time he had killed more than eighty people, he probably knew that they were civilian. Even after only being convicted for about a fifth of his murders, he was still sent to jail for life. He was the only person from Charlie Company to go to jail. Although he was the worst of them, many others disserved it, but barely got out of going to trial (Court Martial). My Lai was a battle that had to be fought. There was so much tension between the Viet Cong and the Americans needed to take out there anger and get back at them. The American public saw it as the Americans being evil, eventually causing in the end of the war. The My Lai massacre portrayed the average American soldier as an evil person, and wounded America’s reputation as a country. Oral history is very useful for the telling of the My Lai massacre. A mere writer cannot understand the emotions that were experienced in the actual battles. Although oral history proves to be extremely useful to see the emotions and feelings during the time of the war, it does don’t always portray the correct facts. Secondary sources always have the facts right and can give historic background to help understand a situation and the politics during the period, rather than public opinion. In conclusion, the massacre at My Lai was a huge accident that had to happen eventually. â€Å"William Calley Court Martial. † Jrank. org. 1972. Noble Trials and Court Cases. 19 May 2013 lt;http://law. rank. org/pages/3208/William-Calley-Court-Martial-1970. htmlgt; Thomas E Murray. â€Å"The Vietnam War: Oral Histories. † fcit. usf. edu. 2009. Florida Center For Instructional Technology. 19 May 2013. lt;http://fcit. usf. edu/vietnam/index. html Steven Curtis. â€Å"The Vietnam I Remember. † www. stevencurtis. com. 2009. Steven Curtis. 2 Ma rch 2010. lt;http://www. stevencurtis. com/vietnam/Stories/enemy. htmgt; McDonald, Joe. â€Å"504 People Killed In The My Lai Massacre. † www. countryjoe. com. 1970. Country Joe’s Place. 19 May 2013. lt;http://www. countryjoe. com/massacre. htmgt; Esterhan, Joseph.

Strengths And Weaknesses Of Diversification †MyAssignmenthelp.com

Question: Discuss about the Strengths And Weaknesses Of Diversification. Answer: Introduction Diversification is a strategy which is used for the purpose of expansion of business in the existing marketplace or in the other fields of market. Primary aim of implementation of this strategy is to enter into a new market with a new product or service or launching the existing product by adding unique and attractive features for the purpose of re-launching in the existing market. This strategy sometimes acts as the part of defensive and offensive set of strategies. It is one of growth strategies described under Ansoff Matrix model. The statement Diversification is a perfectly logical development, ensuring the rationale and efficient use of resources defines that diversification is implemented in the workplace with the objective of ensuring success and growth (Aspara, et. al., 2011). When a business enters into a new market, lot pf challenges and opportunities comes which needs to be faced in an effective manner so that desired goals could be acquired. For the same purpose, diversif ication strategy is implemented in the workplace. In this essay, several aspects of the diversification, its correlation with the other aspects of Ansoff Matrix framework will be covered. Along with this, strengths and weaknesses of diversification strategy will be covered. Further, tools which describe relation between external business environment and diversification will also be discussed. Concept of diversification and types of diversification Concept of Diversification Diversification is a risky section of Ansoff Matrix as business organizations does not have much experience in the new market, thus, the chances of products succession are very less. Ansoff Matrix has defined four growth strategies i.e. market penetration, product development, market development and diversification. As per Ansoff, diversification strategy is unique and distinct from other three growth strategies because the risk level is pretty high in diversification. The first three strategies are applied in the workplace with the help of existing technical, financial and merchandising resources which company already using for its existing product line. But in case of diversification, organization requires to adopt new set of strategies along with new technological and facilities. Acquisition of new skills and knowledge is also required in adaptation of diversification strategy with the objective of successful expansion of business in new markets with new products (Kumar, Gaur Pat tnaik, 2012). Before implementing diversification strategy in the workplace, organization is required to conduct market research and related strategies so that the target customers needs, market environment, competitors involved in the industry, strategies used by them, etc. elements needs to be considered. This helps the organization to introduce and promote new products in new marketplaces with the objective to gain success and growth. Product diversification is a concept under which new products and existing products are being manufactured and promoted in new marketing conditions so that business could be expanded. Various companies have also adopted the method of expansion of existing product line under which a new product is being launched related to the existing product (Villarreal, Cusimano Renner, 2015). For example, tooth paste manufacturing firm launches tooth brushes and tooth powers under the same brand name. Companies also use product extension and brand extension in order to uplift sale volumes and the number of customers with the objective of increase market share in the target or in new market (Whittington, 2014). Types of diversification In order to establish a sustainable competitive advantage in the target market along with implementing the differentiation strategy, it is required to make a clear understanding regarding differentiation strategy. The rationales on which differentiation strategy is implemented in the workplace are customer needs, quality of product and services and competitors. Product differentiation has various approaches and this is carried out at workplace with the core business objective of gaining competitive advantage through adding unique features in their existing products or by launching totally different product for making a separate image from its competitors. There are various means through which product differentiation could be carried out in a business such as product differentiation, image differences, service differentiation and many more (Martin, et. al., 2012). Through adaptation and implementation of differentiation strategy within workplace, organization could gain success and gr owth by using the existing brand value which will help them to successfully launch the product in the new market along with avoiding the direct confrontation with the competitors. Therefore, it could be said that differentiation is an effective strategy through which companies could earn sufficient amount of profits by utilising the available industrial resources (Zhou, 2011). Following are certain types of diversification: Horizontal Diversification: Approaching to the different target market through launching unique products and services which are unrelated with the existing product line of the organization is known as horizontal diversification (Park Jang, 2013). For instance, PepsiCo diversify its products through launching an energy drink. This type of diversification is also known as related diversification because companies diversify their offerings related to their existing product lines. Vertical Diversification: Under this type of diversification, company starts from the initial stage of its existing product line in order to make improvise existing products and services (Chioda, et. al., 2011). For example, a reconstruction company starts selling paints. Concentric Diversification: Available technologies and marketing system of an organization are fully utilised with the motive of enlarging the production portfolio (Liu, et. al., 2014). For instance, cosmetic products manufacturing company starts producing shampoo. Unrelated diversification: When a company diversify its offerings unrelated to its existing product lines is known as unrelated diversification. For example: Coca-Cola starts rendering consultancy services. For example: In last 80 years, Volvo Group which is a Swedish multinational company engaged in production of trucks, cars, buses, etc. Its technical team is constantly working on exploring security technologies for improving the credibility of their products in the international market. In this regard, three-point belt invention is their landmark invention. Company granted this invention free to all other companies of the same field which has now become a basic configuration for all automotive. Although, there is not much complications in this invention and it is too simple but it has saved many lives and it has also helped the Volvo to gain effective image in terms of safety technology in the global automotive market (Althoff, Segraves Johnson, 2014). Benefits and diversification Diversification generates various ways for an organization to grow, prosper and expand in the target market. With the help of diversification, organization could gain several financial advantages. For instance, when a company acquires another enterprise or comes into a joint venture with other business enterprise, it leads to increase in the revenues of the organization which also impacts organizational profitability (Kim Reinschmidt, 2014). For instance, before launching of a new drink in the target market, PepsiCo executes market research strategy with the objective of ascertaining the risk and opportunities factors. Successful implementation of diversification strategy will lead the organization to increase its market share in marketplace. Introduction of new and effective products and approaching to the appropriate group of customers is an essential aspect of diversification which helps organization to increase its customer base. For instance, if product launched by the company will meet customers requirements, chances for success increase while if the product fail to meet customers requirements, chances of success decreases for the organization as well as for the newly launched product. Diversification strategy increases growth opportunities for an organization because it helps the organization to enters into a new market with a new product without any experience. Risk factor plays crucial role in the success and growth of an organization. Diversification strategy leads to introduction of new product in the new market, thus, high level of risk is involved. With the help of diversification, it decreases the impact of risk over business because there is various range of product and if one of them will fail, it will not much affect enterprises performance (Vik McElwee, 2011). Dangers of Diversification In order to gain financial advantage, various companies enter into a joint venture or acquire other enterprises and miscalculate the profitability from that venture against the cost incurred to form that venture. For example, PepsiCo enters into a joint venture with a construction company but PepsiCo does not have sufficient information related to construction business, thus, it may originate negative outcomes. Increasing market share by introducing new products in new markets leads to increase in the competition level. For example, PepsiCo is planning to launch an energy bar chocolate with the view to diversify its product ranges to other fields. But due to aggressive competition in the chocolate industry and due to lack of experience of that particular field, desired goals and objectives may not acquire. On one side, diversification increase growth opportunities for an organization while on the other hand, it also generates various chances of failures due to non-acceptance of product by target customers, etc. (Wan, et. al., 2011). Critical comments on Whittingtons statement According to Vaara Whittington (2012), diversification is a perfectly logical development, ensuring rationale and efficient use of resources. This is true because every business enterprise needs to face decline stage once in a lifetime and in that period of time, organization may get success otherwise it will fail. Authors have described that Strategy-as-Practice plays crucial role in strategic management concept and it helps the organization to manage the activities in an effective manner. Strategy-as-Practice has two meanings: practice signals both an attempt to be close to the world of practitioners and other meaning is sociological theories of practice. Main aims of these studies are that the strategy processes are relies upon the organizational functions and on other functions that affect the performance of the strategies and their outcomes. SAP research has provided an alternative method to the organizations in relation with performing decision making process in an effective m anner. Strategy-as-Practice has common characteristics with the approaches of strategy process and the new micro-foundations approaches of strategy. The primary focus of SAP approach is to find out the most appropriate way so that distinct method could be originated with regards to strategic management. Apart from the utilisation of SAP approach to determine alternatives for decision making processes, it is also used in the research for analysis of social practices (Tixier, Bataill Jagla, 2010). In relation with diversification, it is required for an organization to perform market research activity in an appropriate manner so that the desired outcomes could be acquired. Diversification is being implemented within the workplace with the objective of expansion and for expanding business into new fields of market, it is required to adopt certain unique and advanced level strategies such as SAP approach. This approach has the capability to strengthen the process of making strategies and it is also essential in the procedure of executing all functions of the organization in an appropriate manner. As per my opinion, the statement given by Whittington (2012) is true because diversification is the only activity through which organization could expand its business in the domestic or in international marketplace. This is the strategy which promotes the organization to enter into a new industry with a new product and that too without any experience, talent or knowledge for that market. This strategy helps the organization to identify its capability as well as various challenges occur for an organization which could be moulded into opportunities using unique strategies of organization. If organization will not be able to make their separate image in the new marketplace then it could be observed that the chances for surviving in the dynamic business environment for a long run are quite less (Vaara Whittington,, 2012). Diversification is a strategy which is essential for the growth of an enterprise. It helps the organization to mitigate risks factors involved in the market as well as it also expand the network of the organization so that desired outcomes could be attained. Apart from this, the statements second part says that efficient and rationale utilisation of resources is necessary in order to implement diversification and related strategies effectively. Resource management is another crucial task for an organization which should be executed in an appropriate manner with the objective of attaining higher results with minimum wastage of resources (Calms Thoret, 2011). Resource management technique includes management of technical resources, production, man power, etc. All these resources should be combined together in such a way so that the task could be accomplished in the most appropriate manner. This will help the organization to gain its desired goals and objectives along with this, organization will be able to develop its separate image from competitors. Diversification is implemented with the purpose of expansion and this could be done in the existing product line or in the different product line. Thus, combination of resource management and diversification strategies should be executed in an appropriate manner so that organization will be able to create opportunities for itself for achieving desired outcomes. Under resource management technique, one of the crucial tasks is allocation of duties to the employees (Lamin, 2012). While allocating the tasks to the employees, it is required for the organization to ascertain its employees capabilit ies, skills and knowledge so that right task could be allocated to the right person. This is also known as the golden role for business enterprises in relation with gaining success and gaining competitive advantage in the marketplace. It has been observed that every product and service has a limited life and if an organization will focus over single product or service, then the life for that organization will be dependent upon that particular product only (Delcoure, 2010). But while setting up business, primary objective is to survive in the dynamic business environment for a long run and this is the reason organization focus over various products and services of the same product line as well as over different products and services from different fields. Diversification helps the organization to make its network broad and wide and while diversifying the business, organization should determine every aspect of the new filed so that the chances of failure could be mitigated. Apart from this, it has also been observed that the authors have said that the resources usage should be rationale as per their requirements (Belousova Dorfleitner, 2012). For instance, Disneyland has developed their position as performing company in terms of providing its customers qualitative entertainment services. Through this, organization has attained highest value visitor satisfaction and a huge number of tourists along with pleasure and happiness. In this manner, employees plays crucial role in attainment of desired goals and objectives of the organization. Conclusion From the aforesaid information, it can be concluded that strategic management plays crucial role in success and growth of an organization. In this essay, various aspects of strategic management and diversification have been discussed. Diversification helps the organization to gain its desired goals and objectives along with ascertaining the opportunities for acquiring success and growth related objectives. The fact cannot be denied that diversification consist of high risk factor but there are various benefits which could be attained through application of this strategy such as expansion, growth, etc. In this essay, strategy-as-practice approach has also been discussed which is essential in acquiring success and developing strategies for attaining competitive advantage and growth as per the managements expectations (Chambers Zdanowicz, 2014). 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