Japan On Its Way To Be The World's Largest Economy

Japan has performed a miracle. The country's economic performance
following its crushing defeat in World War II is nothing short of astounding.
The economic expansion of Japan is second to none. All of the elements are in
place for Japan to continue increasing its share of the world's wealth as
America's gradually declines. The country is on track to becoming the world's largest economy. How did Japan do it? There are many theories and studies that
have traced the Japanese miracle without success. The answer to the mystery can
be found by examining Japan's culture, education, and employment system. Japan's
success is not just a case of good technique and technology in business, but a
real recognition and development of the necessary human skills.

A better understanding of the Japanese society provides the framework to
understanding the workings of Japanese business (and possibly the Japanese
mind.) The ways of the Japanese provide a foundation for their economic
adaptability in modern times. Japan is a culture where human relations and
preservation of harmony are the most important elements in society. "It is
their sense of identity and destiny which gives their industrial machine its
effectiveness."1 "Among the Japanese, there exists an instinctive respect for
institutions and government, for the rules of etiquette and service, for social
functions and their rituals of business. Japan is a traditionally crowded island,
the people are forced to share the limited space with each other and to live in
harmony.. The Japanese are very protective of their culture. They are very
conservative to outside intrusion. Their distinctive ways are a source of pride
and national strength."2 Japan's striving for purity is very different form a
North American idea of open doors and diversity as strength. Japan is relatively
closed to immigration to outside countries. However, this feeling of superiority
does not stop them from being careful. "This is probably because the Japanese
know their economic house is on shaky ground, literally. Japan is eternally at
nature's mercy, vulnerable to the sea that surrounds it, to earthquakes of the
soil beneath it and a real shortage of raw materials, particularly food and
fuel."3 A period of extended isolation could be disastrous to the country.
Japan's trade surplus is its only generator of wealth. This is a fact of life
that is preached through the media and taught constantly to Japanese throughout
their lives in school, from parents, and when they enter the working world. The
message is clear: Japan is always vulnerable, we must protect her. "Obsessed
with national character, the Japanese are proud and ambitious, constantly
measuring themselves against the world's best and biggest. Accordingly, one of
the main sources of Japan's strength is its people's willingness to sacrifice,
to be regimented and homogenized, and to subordinate personal desires to the
harmony of the working group."4 The Japanese people have had to become a group-
oriented society. While in the western world, individuality and independence are
highly valued, Japanese society emphasizes group activity and organization. The
people accept that they will belong to one social group and work for one company
for life. The crowded island conditions have driven society to value conformity.
"The highest priority is placed on WA, or harmony."5 The Japanese have learned
to share their limited space and value the precious distance between themselves
and others. The culture that Japanese people are brought up in causes them to
recognize that they have to work together to succeed. Only harmony will provide
improvement. This development of the human nature and attitude relates directly
to Japan's business practice and provides a basis for good business relations.

Japan's education system has grabbed the world's attention as it is
specifically designed to teach the children skills and aptitudes to give them an
edge in the business world. "The educational system, based on the principle of
full equality of educational opportunity, is widely recognized as having greatly
contributed to the prosperity of Japan by providing a highly qualified work
force supplemented by extensive intraining programs by many of the major
employers."6 "The primary and secondary educational system is probably the most
comprehensive and most disciplined in the world."7 Where North American students
attend school 175 days a year, Japanese students attend 240 days. . Japanese
students attend elementary and secondary school six days a week and for two
months longer each year than North American students. In addition, they have
long hours of homework. A large majority of Japanese students attend juku, or
preparatory schools, in the evenings and on Sundays. In higher education, while
lacking the strong University system which exists in North America, the
curriculum is equally rigorous, and "Japan is graduating 75 000 engineers per
year, 3 000 more than the U.S., from a University population one fifth the
size."8 "The education system itself is a unifying force. It molds children
into group oriented beings by demanding uniformity and conformity form the
earliest ages. The attainment of excellence within this complex environment, and
the importance it holds for one's future is stressed early."9 This emphasis
places a great burden on the young to perform well in school an to earn
admittance to high status universities. The public school system not only
produces good, obedient citizens, it produces good workers. A willingness to
give oneself to the corporation's best interest, to arrive early and stay late,
and to produce good work are attributes learned in the Japanese schools. Those
who cannot learn these skills do not do well in school or do not rise in the
ranks of the corporate world. The education system is an excellent example of
how the Japanese recognize and develop the necessary human skills that are
needed in society and stressed in the business world..

One of the most important aspects of Japan's successful economics is the
countries employment system. The system is very complex and has many hidden but
powerful aspects that help Japan maximize its output. The system's three main
principles of lifetime employment, company unions, and seniority pay, work
together to form a system worthy of notice. "The system is based on
comprehensive labour regulation, and it has been consciously invented as Japan's
answer to a Western labour system that Japanese leaders have long believed is
inappropriate for an advanced economy."10 "The whole system is based around a
people-centered management. Japanese companies undertake their annual hiring of
recent graduates expecting all the people they hire to work with them until
retirement."11 Lifetime employment is often regarded as a key factor behind
Japan's industrial success. Yet, "lifetime employment as practiced in Japan is
no more than a general guiding principle. It is by no means a guarantee and only
the large companies can afford to assure employment."12 The obvious value of
such a system is the sense of stability it presents. But there are many
advantages to such a system. "Consider how valuable the lifetime employment
system is in winning worker cooperation for the introduction of productivity
enhancing new technologies. Japanese workers see no downside risk in helping
their employers improve productivity, they embrace new technology knowing it
will enhance their company's future and their own jobs. Workers can then be
reassigned to different work, typically making improved products."13 "The
American hire-and-fire system sets works and managers against each other over
new technology. American workers are suspicious of new technology because
employers often use such technology to cut jobs. If a company is to innovate, it
must train its workers to handle ever more sophisticated tasks."14 "Here again
the Japanese labour system provides Japanese employers with a vital advantage in
that they can undertake expensive training programs knowing they will enjoy a
good return on the investment."15 By contrast, American employers see such
training as a risk because the workers are free to take their skills to rival
employers. Japanese management is also a major source of Japan's success. "A
Japanese manager knows that the decisions he makes today remain permanently on
his record and he may be asked to account for them many years down the road. He
cannot simply sweep problems away. The company's long term success always has to
be on the mind of the manager."16 "The lifetime employment system also enables
Japanese corporations to groom prospective executives for many years." The
managers know that the path to success is to dedicate themselves single-
mindedly to the success of their companies. The lifetime employment system
contributes greatly to raising employees' desire to work and to fostering
loyalty and commitment to the company."17 The merits of the Japanese employment
system are endless. The healthy relations provide a basis for growth. All the
aspects of the employment system develop skills necessary for a stable company.

Ever since the Tokyo stock market entered a period of decline in 1990,
the Western press has attacked aspects of Japan's economics and portrayed Japan
as in an economic slump. Westerners endlessly attack the Japanese employment
system. It is true that the system was supposed to make workers fiercely
dedicated to their employers, but it prevented Japanese companies from cutting
the size of the work force in hard times. "While Canadian companies emerged from
the recession leaner and more competitive, Japanese firms stagnated."18 The
argument is always the same: as the world economy "globalizes", Japanese
corporations are being drawn into increasingly head-to-head competition with
Western counterparts and face extinction if they do not adopt the "more
efficient" Western system of employment. This argument was "never more
insistent than in the recession of the early 1990's"19, but, as on previous
occasions, the Japan Employment system triumphantly silenced its critics by
emerging from the recession as strong as ever. Westerners cut jobs to increase
profits, the Japanese cut profits to increase jobs. Western critics also attack
the Japanese education system. "Although often noted for their rigor and high
test results, the school system is seen as presenting a dark side with
conservatism and conformity."20 A modern economy is argued to "need creative
thinkers willing to take risks, which Japan's schools are not producing."21 This
may be true as Japan has a history of copying Western products detail by detail.
The lack of creativity is dismissed by the Japanese. They feel that "copying is
common sense. Relieved of the burden of having to come up with original designs,
Japanese manufacturers can concentrate all their creative talents on the far
more economically effective task of beating Western rivals in productivity."22
The school systems are producing thinkers and problem solvers. All of these
attacks are underestimating the power of the Japanese. Is it an economic slump
when "in the first four years of this decade, Japanese exports soared by 32
percent, the yen rose 27 percent, and Japanese employers created 3.2 million new
jobs. Japan is not crumbling, it has now surpassed the U.S. to become the
world's largest manufacturing economy and is ready to claim the lion's share of
the world's growth."23

Attacks on Japan's ways are countless. Obviously there are many problems
with the way they run their country. Yet, no one can ignore the economic success
that Japan has had. The roots of the success can be traced back to the skills
developed through culture and education, and the healthy attitudes developed by
the Japanese employment system. The Western world could learn much from what
makes the Japanese successful in business. It is not just a case of adopting
Japanese techniques and technology but of recognizing and developing the
necessary human skills. The East has borrowed heavily from the West in improving
its business performance; the West could also take note of the lessons of
Japanese history and culture and consider applying them in its own organizations.

Actions of the Government and The Increase in Prices

The United States economy is currently producing at a level of full
employment in long-run equilibrium. The government then decides to increase
taxes and to reduce government spending in an effort to balance the budget. The
results of the actions taken by the government is the decrease of real GDP.
When taxes are increased that the amount of disposable income that is available
to consumers is lowered. This lowered level of disposable income leads to a decrease in consumption spending as well as a decrease in savings. This
decrease in consumer and government spending causes the total spending to
decrease by a multiplied amount, As a result of the decrease in total spending
the aggregate demand decreases and the aggregate demand curve shifts to the left.
This decrease in consumer and government spending also causes businesses to have
a surplus of inventories. At this point the output is greater than spending and
as a result prices begin to fall. Because of the surplus of goods and falling
prices consumption becomes more desirable to consumers and the level of consumer
spending rises. The fall in prices causes business to become less profitable
and producers decrease the level of production. This results in the decrease of
the aggregate quantity supplied to decrease. This continues until aggregate
quantity demanded equal the aggregate quantity supplied and a period of short-
run equilibrium is established. The real GDP and the price level have both
decreased from the original long-run equilibrium level and the economy is
operating under the full employment level. At this point the U.S. economy is at
a recessionary gap and a monetary policy must be used to pull the economy from
the current recession.
There are three options that the Federal Reserve has to try and end the
current recession. The federal funds rate could be lowered, the discount to
banks could be lowered, or open market operations could be used. The most
effective of these three options is the use of expansionary monetary policy
through open market operations. The first step in this option is for the
Federal Reserve to start to purchase bonds from consumers. As the Federal
Reserve begins to buy these bonds back the bond prices are increased to make the
selling of these bonds more attractive to consumers. When the Federal Reserve
purchases a bond from a consumer a check is issued to the seller for the agreed
price. This higher bond prices also lowers interest rates. The seller then
deposits this check into his/her bank. This action increases deposits in the
bank, which in turn raises the banks reserves to increase. The required
reserves are increased by the amount of the check times the required reserve
ratio, and excess reserves increase by the difference between the check and the
amount of the required reserves. Because the excess reserves of the bank have
increased, the bank is now able to loan out more money. The bank will continue
to make new loans until it is loaned out. The lower interest rates that are
caused by the higher bond prices encourages more consumers to borrow money.
This increase in the amount of loans causes a raise in the money supply by a
multiplied effect.
Because of the increased desire to loan money by banks and the increased
desire to borrow money by consumers companies receive more loans which is used
for investment. This rise in loans that are used for investment increases
investment spending. This increase in investment spending causes the total
spending to increase by a multiplied effect. This increase in total spending
then causes an increase in aggregate demand which causes the aggregate demand
cure to shift to the right. Spending is now greater than output. As a result
of spending being greater than output many suppliers and manufacturers expand
production of their goods. Prices will also increase because production costs
rise as well. The increase in production causes a increase in the level of
aggregate quantity demand supplied to consumers is increased. The increase of
prices makes the value of money and wealth decrease. Because of this decrease
consumption becomes less desirable by consumers and the aggregate quantity
demand decreases. Another result of this increase in prices is the decrease of
exports because the higher prices make U.S. products less desirable.
Consumption and net exports are now decreasing. The level of aggregate quantity
supplied continues to rise and the level of aggregate quantity demanded
continues to fall until aggregate quantity demanded and aggregate quantity
supplied are equal. This causes the U.S. economy to enter a state of long-run
equilibrium at full employment. This new level of equilibrium should be very
similar to the original long-run equilibrium. The total real GDP has not been
affected. Government spending and consumption have both decreased. Investment
spending has risen because of the new lower interest rates. Because of this
real GDP is not effected in the long run.

A Role of Ethics and Social Responsibilities in Management

Ethics can be defined as a process of evaluating actions according to moral principal of values(A.Alhemoud). Throughout the centuries people were trying to choose between profit and moral. Perhaps, some of them obtain both, but every time it could have roused ethical issues. Those issues concern fairness, justice, rightness or wrongness; as a result it can only be resolved according to ethical standards.
Setting the ethical standards for the way of doing business in corporation is primarily task of management. Corporations have to maintain the same standards as an individual person and, in addition, corporations, as organizational units, have their own social responsibilities toward customers, employees and society. However, any business should keep it's original purpose of functioning - making profit. Balancing the traditional standards of profitability and burden of social responsibilities is not an easy task. In recent years it has been a trend of setting standards of corporate ethics according to high degree of morale.
To be able to keep the ethical standards management must follow the law. However, there are some complications in enforcing it. The law affects and is affected by social forces and prevailing ethical standards. "Although the law can codify societies ethical
________________________________________________________________________
Alhemoud, Ali " Management Ethics is Smart Business."
values, ethical decision making transcends the law in that 1) the law deals with actions not
with thoughts, and therefore it does not (and cannot) codify all ethical requirements; and
2) an individual or a group may perceive a given law as immoral, not as a guide to ethical behavior." ( A. Alhemoud). How, then, a company can ensure that its code of ethics is both followed and enforced ? " ...Defense firm such as General Dynamics and TRW, and an information company, Dun & Broadstreet, have appointed internal ethics officers or ombudsmen. Whether employees have faith in these safeguards against corporate retaliation is hard to tell, though it is one step forward (The Economist August 19 1995)
The ethical codes of corporations that that get so important nowadays also did not come into being at once. They emerged from individual ethical standards and corporate consciousness. Moreover, the public demand for prosecution of any violations of corporate, professional and business ethics has been increased. Finally, mass media made possible for society reveal secrets that were kept from public before. So, the business conduct regulations were created to "draft guidelines for ethical conduct, develop a process for monitoring business practices and recommend ways to correct questionable activities." (J.Byrne) All these measures were taken to balance various social responsibilities with the high degree of moral and sense of attainment.
Unfortunately, cooperation of unethical behavior of a manager with a journalist may lead to an undesirable results. "Early in December 1995 , Smart Money's editor-at-large James J. Cramer wrote an article for his monthly column; Unconventional Wisdom,
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Alhemoud, Ali "Management Ethics is Smart Business."

Recommending four $2 to $6 "oprahn" stocks. Trading records show that at the at the
peak, Cramer's firm had paper profits of more than $2 million on the stocks. The gain
occurred because he had adopted at least three of the "oprhan" sometimes before writing the article. Cramers article said that he was buying one of the stock but did not disclose that"(F.Lalli). Clearly, neither the management nor the editors had in any way cared of conducting the ethical behavior and as the result the innocent investors were hurt.
On the other hand, being ethical can be clever marketing strategy. Increasingly, consumers are swayed by "non-commercial" factors, such as whether the product harms the environment . "Firms such as Ben & Jerry's, an ice cream maker and Body Shop international, a cosmetics retailer, have enforced their brands by publicizing their ethical standards...Calmins Engine , a maker of diesel engines , made the product greener while lobbing for stricter pollution laws. Dp Pont, a leading producer of ozone damaging CFCs, became an early member of anti-CFCs lobby partly because it knew it was well ahead of its rivals in developing alternative."( The Economist December 23 1996)
But ethical self promotion can backfire. As in the case of Body Shop company that was publicly enforced to rephrase a statement that its product were not tasted on animals (Some other companies did that in the past). This accident made many consumers to question Body Shop ethical standards.
Another interesting issue in corporate management is social responsibilities. Social ________________________________________________________________________ Frank Lalli "A Question of professional ethics"
responsibilities can be defined as set of obligations an organization has to protect and enhance the society in which it functions.(Ricky W. Griffin. "Management"). There are a few main components of social responsibilities.
Any business has responsibilities to its customers. The paramount duty in this respect is to provide customers with quality and safe products. Unfortunately, not all businesses follow this rule. The example of such deception is tobacco industry, which delibelatry manipulated with the level of nicotine in cigarettes. Despite of declaration of managers, scrutinize research made it clear that industry tried to maintain the addictive level of nicotine. The purpose of it was far from humanistic - addicted smokers kept buying cigarettes, making the industry prosperous and profitable. There has been a number of other different customers' abuses such as sale of fruits with overdosed chemicals, breast implants for women and etc.
Though, the responsibilities to its customers is crucial point of management, the way managers treat employees is another parameter of evaluation of companies ethical well- being. Unfortunately, the most concern of managers is theirs own job rather than theirs employees.
Another problem is equal employment opportunities for everyone. Although a lot was done to destroy the system that kept women and minorities away from the top management positions, many corporations still rely on white men's stereotypes and prejudice. Women are considered just as accessories for men and are not treated equally.
In fact, firms attitude toward employees often determines the way employees feel about company. As a rule, corporate code of ethics contains the pattern of behavior, an employer expect from employee.
Another responsibilities of the companies' management is to stockholders. This usually rises a so called "agent problem" (Dyckman, Intermediate Accounting). Managers are in control of the property stockholders. However, the interests of these two groups may not be the same. As manager is looking for more power and prestige, they can tend to less profitable operations. Also corporate officials may vote for high salaries and bonuses for themselves, decreasing the dividends of stockholders by that.
There is no particular solution for all of these issues. There is only hope that ethical standards and social responsibilities would guide every manager throughout his/her career. "Professional conduct should be governed by a code of ethics that reflects positively on the practitioner and managerial profession. Simply stated, nothing should prevent a manager from maintaining high ethical standards and social responsibility in the quest for high performance and quality."

Broadcasting and Programing

Steiner's model on programming preferences and broadcasting choices tries to
show how stations come to the conclusion of what programming to show. This model
goes on the assumption that broadcasters will go after the largest audience
possible.Going on the information given about this hypothetical situation, we can predict what each of the four stations in this market will show.

There are three distinct audience preferences. The first groups of 1200 viewers
has a first programming preference of sitcoms and a second choice of soaps. The
second group numbers 900 viewers and would pick cops first and soaps second. The
third group, 500 viewers, likes soaps first and sitcoms and their second choice.

This model says that the audience will watch their first choice first and then
the second choice, but only is their first choice is not available.

Let's say that the Federal Communications Commission licenses station A in their
market. Looking at the viewer preferences, station A would start to broadcast
soaps. By show soaps, it would capture a market of 2600 viewers. All viewers
would watch because soaps is their first choice or it is their second choice but
their first is not available.

The FCC then offers a license to station B. After examining the audience sizes,
stations B also starts to show soaps. By programming to this audience, it splits
the soaps market with station A and both of them have 1300 viewers.

Station B does not pick another programming because no other choice can offer
more than 1300 viewers.

When the FCC offers a license to station C, things will definitely change in
this market. Station C sees the biggest audience available is the sitcom market
with 1200 viewers.

But when station C takes that 1200 viewers from the soap audience which hold
sitcoms as their first choice, station A and B will both drop to 700 viewers.
They now have to make a decision. Both can find larger markets elsewhere.

One station, and it does not matter which one, will switch to cop shows. For
this hypothetical, station B would choose cops for 900 viewers.

Station A, who still is showing soaps, now only has 500 viewers. It does not
like that, so it starts to show sitcoms. Audience 3, with 500 viewers, now is
watching sitcoms because there are no soaps out there. Station A and C are both
showing sitcoms and are splitting a viewer audience of 1700 for 850 each.

Now that the viewers are confused about what station is showing what, the FCC
offers a fourth license to station D. After examination, station D decides to
start broadcasting sitcoms in competition with stations A and C. All three
stations have an audience share of 566. That is more than the 500 soap viewers
or splitting the 900 cops viewers with station B.

Although Steiner's model is not too far off what happens in today's television
landscape, it does have a couple of drawbacks that keeps it from being a true
model.

Steiner does not take into consideration that some audiences are more valuable
to advertisers than others. Because advertisers want certain viewers, stations
might program to that audience to attract more advertising dollars.

Steiner also assumes that as stations go into competition with another station,
they will split the audience equally. That is not always the case. Viewers will
watch the station they believe has the better quality, even if there are two or
three stations showing the same thing.

This model does offer some insights on how stations and networks make decisions.
Just look at the TV Guide and see how many sitcoms there are on any given night.

This also shows why some minority viewers never get programming directed at them.
The stations are going to the majority audiences which have larger numbers. The
minority viewer preferences, under these model, have to have another station
before they get to see their shows, in this situation.

First Copy Costs

First copy costs in the newspaper industry are the fixed costs of owning a paper
and printing the first one.

First copy costs include the money spend on items that are necessary for the
newspaper to be printed. These fixed costs do not vary as the number of papers
increases or decreases. Because they do not vary, they are very important and
must be covered by advertising and subscriptions.

These fixed costs include the physical plant, the presses, the pressmen,
reporters, photographers, other staff members and the delivery trucks.

The interesting things about fixed costs is that you have to have them. You can
not scrimp or just not buy them. To cut corners, a paper does not hire reporters,
but how does it cover the local news? Whether or not you print a paper, you
still must pay for that stuff.

To figure the first copy costs of a newspaper, the fixed costs and the cost of
the paper and ink of the first issue off the press are added together. For
instance, let's say that the fixed costs of a newspaper is $1 million and the
first issue costs $1 to print. The first copy costs $1,000,001.

Looking at this, it sounds like newspapers would never make any money, but we
have not figured in variable costs. These include the paper, ink and related
costs of running the press. As the quantity of papers goes up, these prices
usually go down. As the quantity continues to go up, the average cost comes down
and each paper gets cheaper and cheaper.

First copy costs keep many papers from owning their own presses. Large dailies
must own their own presses in order to meet distribution deadlines and ensure
that their paper gets printed on time. Smaller papers can not afford that first
copy cost, so they have to contract with other to print their paper.

First copy costs are a determining factor in how a paper is operated. Whether it
owns it own presses or not, the size of its staff and how often it prints is all
tied into these first copy costs.

Economy of Scale with Cable TV

By the nature of the beast, cable operators normally get exclusive franchises to
supply a community with their cable service; so talking about competition in the
cable industry sounds like an oxymoron. But there are signs that it might
actually compete in a way.

Less than 50 cities in the United States are overbuilt, or have more than one
cable provider. Yet studies show that those overbuilt cities have lower basic
cable subscription rates, $14.31 compared to $17.31.

Can competition within the cable system be created?

Probably not. The barriers against entry for new cable operators in a specific
market are great.

To begin with, the new operator must get a franchise agreement with that city.
The incumbent franchise will not stand still for this. Those in the local
government also will fear that the incumbent franchise might change benefits or
disturb the local political situation.

Economics of Scale would suggest that the incumbent would have lower average
costs because they are already there and have a better distribution system. The
second franchise would have high entry costs because they have to string their
own cable and many times they have to bury the new cable. This additional work
means high construction costs and community aggravation as they tear up roads
and yards.

The incumbent can employ delay tactics to make it very hard to start up new
franchises. From political pressure to lawsuits to dropping price and keeping
their customers happy, delays will make the new guy on the block discouraged and
out.

Within the cable operator networks, like TCI or CableVision, networks themselves
own or have a financial interest in some of the channels they carry. Time-Warner
owns TBS, CNN and a host of other channels started by the Turner Broadcast
System.

Although this sounds like a serious violation of the anti-trust laws, no contest
has been put up against this practice. In fact, it has been shown that multi-
system operators and overbuilt cities' operators are more likely to provide
channels owned by other networks.

Carrying their own channels allows networks to increase profits and helps keep
subscription rates down. And, as a practical matter, cable systems need channels
to put out there for people to watch. Owning or having financial interest in
channels ensures that they have programming to carry.

With all the things going against the competition of cable systems, the market
demand for cable is elastic. The Crandall study, sponsored by TCI, showed that
an elastic rate of 2.2 means that as subscription rates go up 1 percent, 2.2
percent of the subscribers will cancel their service.

As the market show elasticity, the reality is that is normally does not work
that way. To persuade subscribers to take their higher rates, cable operators
offer new channels along with the rate hike. The number of channels has
traditionally been a measure of quality and as "quality" goes up, so can the
rates.

Cable in the near future will see some competition from sectors outside of the
cable industry. The Telecommunication Act of 1996 will make it easier for
telephone and utility companies to go head to head with the cable operators.
This might change the competition landscape of cable TV.

Programming to the Minority Audiences

Because networks and broadcasters look to capture the largest audience possible,
many times the minority tastes are ignored. These minorities now have more
choices today than they did before as technology expands.

Steiner's model described how broadcasters went after larger audiences and skip
over minority tastes. As technology advances and more stations are introduced,
Steiner's model would suggest that those minority tastes were met.

In a situation where government regulates a small number of broadcast stations,
minority taste audiences have little recourse. The only option that they have is
to petition the government to force the stations to program to them. Such was
the case with religious groups. They got the Federal Communications Commission
to make stations allocate time for specific religions and their shows.

In a government sponsored market with a limited number of channels, some
programming for the minority tastes will appear. The government would sponsor a
channel that showed minority taste programming. On the down side here, the other
broadcasters will continue to ignore minority tastes because their needs are met
somewhere else. Broadcasters will continue to aim for the majority markets.

Today, with an unlimited number of channels available, minorities have
programming provided to them. Those with minority tastes can now start their own
channel to cater strictly to themselves. Whatever their tastes, they will have
it.

The benefit of unlimited channel supply is that the market audience keeps
getting more and more programming. Once someone see a type of programming work
and make money, they might go after the same market. Broadcasters who once avoid
that type of programming can now start another channel and tap into that market
without detracting from its majority audience programming.

As the technology improves and allows more and more minority groups to get
involved with broadcasting, we will start to see a sharp increase in specialty
channels; more than what we currently see.

Censoring Of A Free Nation

Does the American public enjoy paying exorbitant rates for gasoline? Airplane Tickets? Food? The truth is that no one enjoys paying these grossly inflated prices just to line the pockets of money- hungry capitalists. The United States government, in an effort to control the industrialists, has created laws that contribute to the very thing they are trying to control. The nation’s main concern should be to help the “working man,” 85% of the nation, by not controlling the corporations that supply them with the products they desire, but by controlling the prices at which these items are sold. The current anti-trust laws are doing this very thing. The U.S. government is forbidding the American people from choosing who and what they want to spend their hard earned money on. With the creation of monopolies lies the future of this country, not the downfall as many Americans are led to believe. The people of this wonderful nation, this Free nation, should demand the immediate revocation of the current anti-trust regulations.
Many people are of the opinion that ungoverned capitalism will lead to the downfall of American society, from an economic standpoint. This viewpoint, while based on a very true precedent, is merely a projection of falsified ideals from an ill-informed public. The very laws that you feel are protecting you are actually destroying your right of choice. Yes, everyday the American people buy a corporation’s product and consequently show they believe that product, or corporation, to be superior to the competition. It is with this overwhelming consumer support that the company comes to monopolize a market. Due to the manufacturing of a superior product the company is forced to dissolve, and yet another fine American corporation is destroyed.
Some may say that a monopoly destroys the small, family owned businesses, and in the process kills the spirit of entrepreneurship all together. This is but a small price to pay, since the creation of conglomerates would begin a new era of technological advancement. The increase in allocation of funds for research along with the drive to beat out the competition could lead the world into the new age renaissance. The theories of Darwinism would be of great use in the business environment. If left to compete with no restrictions the superior companies would emerge victorious, thus creating a more stable, more efficient business world. The progress of the nation could be increased two-fold with the right motivation and resources. Both of which would be created by a dominating corporation. With the elimination of anti-trust laws the U.S. government would stand to inherit great diplomatic relations with many foreign countries. With such large contributing to the U.S. market international business partnership would be a given. And with a company creating so many jobs and such an increase in the standard of living in many third-world countries, the foreign governments would be very accommodating to American policies throughout the world. The diplomatic relations between The U.S. government and other world powers would be greatly improved once the American corporations had broken through the racial border. With such a great rapport already going with the foreign countries we would be one step closer to a sovereign nation and world peace.
In retrospect, it would seem that the potential for economic progress greatly outweighs the negative effects that repealing the anti-trust laws could engender. It also seems that a policy of laissez-faire would be the best position for the U.S. Government to hold. The less government interaction in the inner workings of the nation the better off the people will be.

Business communication First Essay

Have you ever find yourself wishing for more hours in a day? Or have you ever felt like you were juggling with thousands of tasks that need to be done at one time? If you ever do, start thinking to manage your time from now on. Managing your time is very important because it will help you balance a professional life and gives you time to be creative. In this essay I will discuss the importance of effective time management skills for successful business communication, which will include some points like how you plan your time, how you can set your goals, have a balance in your work as well as in your life. However, this essay will also define the crisis time management that might happen when you have lack of planning, lack of self-discipline, which lead to stress. The aim of writing this essay is to recognise the importance of effective time management and be able to apply the skills to determine priorities, develop simple self-management techniques and manage others effectively.



Establishing goals is the first step in effective management. You need time to achieve goals, that is why you should organize your days so that you are spending your time on activities that will help you achieve your goals. You will find it easy to adapt with the situation when you using your time effectively and as it is will greater progress toward your goals. As you make progress in efforts to control time, you will want to set goals for the time you save, ( Mackenzie, 1990). Without goals, there is little or no meaning in work and life, and without meaning there can be only dissatisfaction and general unhappiness, (Glesson, 1994). A goal must be achievable if you can’t reach you goal, you will only frustrate yourself and may give up and destroy your motivation. You can choose to succeed or choose to fail but having goals makes the difference.

People sometimes get confuse between goals and priorities. Priorities therefore are objectives that have been ranked in order of importance, (Webber, 1972). Whatever is on top is your number one priority. The next one down is the number two priority and so on. Often we seem to have many goals without taking the care to determine what is really important. When you are facing problems with priorities the best way is to have cards. It can be helpful for sorting priorities. This is one of the effective time management skills because you know how to put your first priority at the top and be more focus in it instead of doing all the tasks for example that will just cause you stress.

“Time management is not about time in the abstract but it is about what you can accomplish with time,” (Mackenzie, 1990, p.25). What it means is that what you can do or produce with the time effectively. In order to get an effective time management, you have to make a good planning before you even do anything. Planning itself means thinking about what you are going to do and how you are going to accomplish it. You have got to really prepare for the future by making your own decisions. When you have all the planning on what you do before you do something, you won’t have things mixed up. It is not enough simply to create a great plan but you must be able to implement it. Planning enables you to get clear pictures of what you are doing. Start with having list of things to do, daily planning, weekly planning or even a monthly planning. A good planning will result in a good time management and therefore will succeed in any ways.

Figure 1.1 Daily planning

Monday	Tuesday	Wednesday	Thursday	Friday	Saturday
1	2	3	4	5	6
7	8	9	10	11	12
13	14	15	16	17	18
19	20	21	22	23	24
25	26	27	28	29	30

As the table shown above, what most people have in the daily planning is goals for the day, for example, 1^st, 2^nd, 3^rd task that you must get done. Also scheduled appointments, meeting, to do list or things that you don’t want to forget, lower priority tasks you hope to get done. By having this daily planning you won’t have to worry about things that you have to do.

Figure 1.2 6 monthly planning

January	February	March	April	May	June

Whatever planning you are using whether it is daily or 6 monthly planning but the main purpose is as a reminder device to help you see the step clearly and to help to achieve as you complete each step.

If you have lack of planning and lack of self-discipline it will lead to crisis time management. There is no way that someone can be expected to continue to work at maximum productivity while experiencing negative stress, (Wenig, 1993, p.145). Managing time well can prevent much of the stress.

In conclusion, effective time management is what makes success possible. The real value of time management is that it enhances our lives in all dimensions, (Webber, 1972). What we gain from time management is not more time but a better life. When you learn to use effectively the time that is given to you, you can have more time with your family, avoid getting stressed out, improve your personal level of productivity and be more successful in achieving your goals.

REFERENCES

Gleeson, K. 1994. The Personal Efficiency Program. John Willey Inc, Canada.

Mackenzie, A. 1990, The Time Trap. Amacom, NewYork.

Webber, R. 1972. Time and management. Van Nostrand Reinhold Company, Melbourne.

Wenig, L. 1993, The A to Z of Time Management. Australia Print Group, Sydney (NSW).

Bill Clinton - Redefines Democratic-Republican

In the early 1800's, the United States was but a promising seedling in search of viable political direction. The initial parties were known as the federalists and the Democratic-Republicans, the first of which soon diminished and the later eventually bisected. The result is the two party Democrat and GOP system which the majority of politicians of current day subscribe. However, many political and economic analysts find themselves perplexed by an incredible new phenomenon radiating from the white house - the economic policies of President Bill Clinton. This dilemma has left many wondering, did we elect a democrat or a republican? Has Clinton unintentionally begun a campaign to reunite the two rivals? The telltale signs of Clinton's political ambiguity include reminiscently republican techniques of reducing the budget, creating jobs, lowered productivity, and shaping the tax code.
During Clinton's 1992 campaign, balancing the budget was not among the countries main economic objectives (Miller 4). However, after close scrutiny, the economic woes of the approaching millennium were projected as "higher then we thought it would be" (Miller 4). In fact, "in the twelve years before Clinton took office, the deficit quadrupled in size" (deficit 1). As a result, Clinton must engage in creative cost cutting techniques to keep the budget under control. Money afforded to state and local governments for development programs, such as those which relieve "urban blight," will eventually be cut by two-thirds, a third more then Gingrich's last congress proposed (Rauch 2). In addition, cuts to transportation aid will prove fifty percent greater then republican propositions (Rauch 2). According to Clinton, all of these maneuvers will result in the lowering of the deficit by $600 billion, or almost one-third by the year 1998 (progress 1). Economists speculate that these reforms may produce the desired effect (Rauch 2). However, putting these measures into action may contradict one of Clinton's main election tenets - to preserve the status quo as it relates to government programs. The final budget will include one-seventh for interest on the national debt. A whopping two thirds will go toward entitlement, one sixth for defense programs and another one-sixth for "non-defense discretionary spending" (Rauch 2).
Perhaps the most touted aspect of the initial Clinton administration was its ability to "create" jobs. According to the White House, almost six million jobs have been created in the past four years, and the unemployment rate in Texas has dropped from 7.5% to 5.8% (Progress 1). This is a level well below the 6% rate which many economists regard as full employment. However, there may be a great deal more then meets the eye when it comes to these "promising" statistics. The labor force had been predicted to grow at a rate of more than 1.3 percent per year, however, it has failed to grow by even one percent annually under Clinton (Reynolds 3). In other words, unemployment has "gone down," by way of understatement. The number of those counted as actual members of the labor force has lowered while the number of jobs has moderately increased. It is estimated that one million men between the ages of twenty-five and fifty-five have left the labor force as discouraged workers during the four-year span of 1992 to 1996 (Reynolds 3). Had these men remained in the force as possible applicants, the unemployment rate may actually read as high as 8%, as it was during the Reagan administration (Miller 3). It seems a case of playing with numbers in order to disguise the truth. Whatever one chooses to call it, Clinton's policies of job creation place discouraged middle class workers between a rock and a hard place. Conservative economist Alan Reynolds views it as a technique of "achieving low unemployment . . . by discouraging millions of people," and remarks that "it is nothing to brag about" (Reynolds 3).
Productivity growth, "measured as the number of units of output per hour of work" has grown just 1 percent each year since 1973 (Miller 3). Under usual circumstances, gradual increases in productivity directly correlate to an increase in workers' wages. However, the Clinton Administration has seen a total productivity increase of 2.1% over a four year period, while wages have declined by .2% (Miller 3). In the next seven years, Clinton's team anticipates an annual productivity increase of 1.2% (Miller 5). Considering the vast majority of employment created under this administration is classified as "blue collar," it may be inferred that wages will continue to fall. Indeed, it seems Clinton has managed to contradict a fundamental premise of economics. And who benefits from this lower wage - higher productivity combo? In a word, industry. Economist Stephen Roach sees it as "a dramatic shift in the distribution of income away from the agents of productivity, workers, toward the owners of capital" (Miller 3). The outcome? An era eerily reminiscent of the Reagan era, where the rich only seem to get richer.
Traditionally, aspiring presidents promise one (or several) things in regard to taxes during the election, yet deliver an entirely different bag of goods upon actual inhabitance of the white house. Clinton proved no exception by raising the marginal tax rates in 1993. At the current time, Clinton is considering a modified capital gains tax cut, despite the fact that this taxation has made sizable contributions to the lessening of the deficit (Miller 4). It is a move that could prove immensely beneficial to the upper percentages of income earners. Clinton has made moves such as this one in the past, in the form of "an earned income tax credit which increased the share of loot given to those with incomes well above the poverty level" (Reynolds 3). These policies, according to Wall Street Journal columnist Paul Gigot, "have done best by the same people Mr. Clinton accused Reaganomics of benefitting most - the wealthy."
Thus, the question remains . . . will Clinton's ambiguous policies fair well when presented to a blatantly republican Congress? It is a fact which remains to be seen. Robert D. Rieschauer, former head of the congressional budget office, views Clinton's economic misidentity as a clear-cut case of Gingrich induced skitzopreniea, noting that "in the world of the campaign, Clinton was the anti-gingrich . . . in his actual budgets . . . he is Gingrich" (Reynolds 1). It leaves us, as voters, to the task of defining Clinton's party loyalties.