Restaurant and Gym Service Environment Literature review

Essays on Restaurant and Gym Service Environment Literature review The paper "Restaurant and Gym Service Environment" is a great example of a literature review on marketing. The background aspects of the service environment usually have profound impacts on both the customers and employees. Customers during the course of service encounter environmental aspects, such as to scents, music, lighting, temperature, and noise. These aspects influence the customer emotionally, physiologically, and cognitively and depending on the influence, the customer assessment of service quality is affected. The assessment of the restaurant and gym service environment revealed that the general interior, exterior facilities, environment layout, interior display, as well as social dimension play an important role in customer satisfaction with a service provider. In both the service environments, customers are able to have a pleasant experience and this ensures repeated use of services. In accordance with the Russell model of affect, the service climate of both the restaura nt and gym enables the customers to have a pleasant experience.IntroductionService encounter usually plays an important function in determining customer satisfaction. Organizations usually strive to create a service climate, which encourages customers to perceive the service quality received as superior (Harris Ezeh 2008). The design elements in a service environment can lead customers to have a joyful influence and this, in turn, can influence customer loyalty. According to Jiun-Sheng and Haw-Yi (2011), the physical and social environment has a positive influence on customer emotions and satisfaction, which consequently influence behavioral intentions. They also noted that the physical environment exhibits more influence on consumer emotion and satisfaction than the social environment. This report will focus on the main design elements in a restaurant and a gym. The quality of service does not only depend on the offered services that meet the needs of the customers but also creati ng an atmosphere as well as an overall experience that is satisfying.Restaurant Services EnvironmentExterior FacilitiesThe restaurant has a very modern architectural design. The design of the restaurant is attractive with structural steel framings as well as glass together with unique architectural details on the exterior, which compliment the interior modern facilities. The design is eye-catching and helps to attract the attention of customers from afar. The restaurant structural height is 30m with 4 floors. This is a good height as most customers can easily access the different areas in the restaurants very fast. The restaurant occupies a land area of 800 m2 with a construction area of 1500m2. This space is adequate for restaurant expansion and enables the restaurant to be less crowded. The color of the building is blue and green.

Corporate Finance and Governance-Free-Samples-Myassignmenthelp

Question: Prepare a report to be submitted to the AICD evaluating the evidence that the responsibility of a company director is to place shareholder interests above those of other stakeholders. Answer: Introduction The Board of Directors is the essential figure in the governance of companies. As we know, its role is to create value for shareholders, employees and other stakeholders through the approval and supervision of the implementation of the most appropriate strategy. At the same time, an effective Board will reduce risk by limiting management behavior with potential to destroy shareholder value. Corporate governance and practise Many of the historical efforts of regulators in the face of past crises have been on the way to tightening supervisory systems and reporting requirements (S-OX and, more recently, Dodd-Frank). Although the authors believe in regulation, we want to talk here about the "self-regulation" of the Boards by establishing healthy models of corporate governance (Farrar and Hanrahan, n.d.). We mention below the set of elements that we think make up the ideal "architecture" of good corporate governance: Clarity of functions: The Board of Shareholders supervises the Board of Directors. It is clear that the clarity of his expectations for the Board inspires the sharing of responsibilities in the organization. The proper delimitation of functions of the Board and senior management is essential to avoid overlaps that generate inefficiencies. Weights and balance of power: The composition and appropriate roles in the Board play a fundamental role in the rigor and quality of decision-making, but also in the balance of power in the organization, to protect the interests and prospects of All stakeholders (controlling shareholders, minority shareholders and those of other stakeholders: employees, clients, suppliers, etc.) (Hilb, n.d.). Alignment of incentives: One of the fundamental springs of managerial behavior is the incentive scheme. Top management has to receive both short-term and long-term stimuli that foster today's success, without prejudice to future strategy. The directors and managers, on the other hand, have the main task of "looking beyond" and must be encouraged to work preferentially for the long term. Rigor in decision-making: The composition of Boards and Commissions and the professional competence of its members will be essential in decision-making. It is also clear that a planned, reflective, inclusive and informed decision-making process will, in general, lead to a better decision quality. The quality of information provided to counselors, the timing of their reporting, and, of course, the chairperson's expertise in handling the debate will help the quality of the decision. Conflict of interest management: Counselors are increasingly sensitive to the incompatibilities and conflicts between their own activity and that of their companies. If there is a relevant factor that leads to a wrong decision is the lack of independence; The conflict of interest. Transparency: A growing demand from investors, proxy advisors and other investor defense associations is transparency about the Board's actions (activities, costs, meeting frequencies of the Committees, presence and participation of directors, etc.). After all, the quality of corporate governance is also one of the fundamental variables that the investor will consider in the management of his portfolio. This transparency contributes to providing certainties to all stakeholders. In the future, the evaluation, both in aggregate and in detail, of the Boards of Directors In addition, there are two cross-cutting aspects of Board effectiveness that underlie what has been described above: the independence and capacity of its members. Regarding the dimension of excellence in the functioning of the Board, it is critical to highlight the importance that we think will have in the future the evaluation of the Boards. We understand, therefore, the implementation of systematic and stable evaluation processes that identify in an aggregated but also detailed way the strengths and opportunities for improvement in the functioning of the Board (Hilb, n.d.). This evaluation process, which is part of the Board's dynamics as a central element of its functioning, is at the basis of the "continuous improvement" of the capacities of its members and hence of the Board as a whole. The Boards must be independent bodies of thought in which there is a substantive debate and a real contrast of ideas Therefore, we believe that transparency in access to the Boards, evaluation of its operation and its subsequent development, will undoubtedly result in a better quality of management of our organizations and lower risk. The final objective should be to facilitate that Boards are always independent bodies of thought in which there is substantive debate and real contrast of ideas that contribute value through the quality of their decisions. In this sense, it is the very attitude of the Presidents Which can systematically safeguard the competence and independence of the Boards. It is therefore a question of using all the available talent in the Board in the government of the organization In an era where the companies have focused on wealth creation for shareholders, the companies that have outperformed their peers are those that have gone against the grain and embraced stakeholders. A good example is the South west airlines which at one time had a market capitalization that was equal to the rest of the U.S airline industry combined, the company had put its employees first, customers was second and shareholders last (John, Makhija and Hirschey, 2009). The company never had any layoffs and continued to perform well even after the September 11,2001 terrorist attacks when the industry was nearing its shutdown. Another company that has demystified the stakeholders theory is Mens Wearhouse, the company sell almost 25% of all mens suits in the U.S. The company has placed shareholders last, and has heavily invested on its employees and other stakeholders, thus, competing not only on price but also on quality shopping experiences it offers its customers. Civil society has been organized since the inception of companies to regulate and establish fair relations between the company and its main stakeholders: shareholders and employees. The concept of the board of directors was developed and the unions emerged. At the beginning of the 20th century the fundamental principles of the relationship between workers and enterprises were developed by the International Labor Organization (ILO). Outside the company, by acquiring economic power through its growth, investing in external shareholders, creating jobs and generating well-being in a community, the company has become more powerful and stronger in what happens in the society (Kim, Nofsinger and Mohr, 2010). Investors act in the different markets trying to obtain the best return for their money while pretending to minimize the risk of their investment. The capital market offers at all times an efficient frontier, which relates a certain profitability to a certain level of risk or volatility . The investor can get a higher than expected required rate of return in exchange of a higger uncertainty. The uncertainty price is the total difference between the rate of interest and the return on investment that is considered as very safe. In corporate governance terms it is known as the risk premium of an investment. Corporate governance analysts and financial analysts suggests that the value of money over a period of time is the same amount of money an investor prefers in its present value rather than its future value. Thanks to a good system of governance, shareholders and investors will shield their interests from conflicts with ethics, among other threats to the credibility of the organization, avoiding jeopardizing the value of the company. (Kim, Nofsinger and Mohr, 2010). Importance of Good Corporate Governance Good corporate governance is characterized by choosing a board of directors that provides a business vision to shareholders and investors in matters of credibility and transparency. For most people the term "good corporate governance" seems distant, unnecessary or difficult to implement. However, in practice, it is a fairly simple concept: to work based on high standards of transparency, professionalism and efficiency, generating confidence in the market, which in the long run will have a positive impact in terms of value and competitiveness. An example is Walmart. Thanks to a good system of governance, shareholders and investors will shield their interests from conflicts with ethics, among other threats to the credibility of the organization, avoiding jeopardizing the value of the company (Tourani-Rad, 2006). And what does good corporate governance have to do with business performance? According to in the area of Sustainability and Corporate Governance, good corporate governance ge nerates more wealth, jobs and more economic activity, as it is indicated by several studies of the company,. A management system aimed at making your investment profitable and safeguarding your assets, having access to timely and quality information, being able to participate in decision making, and proper reputation management, produces value. Keys to Corporate Governance They points out that in order to strengthen a company such as Walmart as a transparent, credible and solid institutional institution, a central element should be the governing body. It is a team of independent directors who will oversee the management of the company, adding value to strategic decisions. It should be made up of a group of people with a business vision, adding value to the quality of management. This council should discuss key issues such as the future, investments and even the appointment and removal of directors and managers (Mallin, 2016). According to the corporate governance analysts, there are five key elements that should define this team of advisors: 1. Strengthening the Directory 2. Risk management and internal control 3. Transparency in information 4. Protection of rights of members 5. Sustainability and permanence of the principles Corporate Governance is the set of principles that regulate the performance of the governing bodies of a company, such as the Board of Directors and the Committees that support it. This set of principles are known as Best Corporate Practices, and are embodied in a document that in each country receives a different name, but whose basic content is shared by all. What Are The Basic Principles Of Corporate Governance In Companies A Corporate Governance scheme should integrate the following concepts: Ensure equitable treatment of all shareholders. In addition to recognizing the rights of investors, promoting active cooperation with companies. As well as ensuring an adequate disclosure of all relevant matters of the company, including the financial situation, performance, ownership and management Ensure that shareholders and the market have access to the public information of the company. Establish internal control mechanisms and ensure that the company has the necessary mechanisms to check compliance with the legal provisions that apply to it (Mallin, 2016). Recommendations Against this backdrop, board members should ask themselves what they should do differently. First, the Australian Institute of Company Directors (AICD) should get rid of the phrase maximizing shareholders value. They should now consider putting on the phrase maximizing the companys value and other phrases like maximizing our companys contribution to our economic system. Second,the Australian Institute of Company Directors (AICD) , the board should feel free to change their behaviors and attitudes openly, because the reason for not verbalizing their belief for the stakeholders theory was due to fear of a takeover. Takeovers have proven to be less efficient in maximizing the companys returns. Third, when they embrace the stakeholders theory , the board should communicate to all the management levels so as to remove all the confusion about the companys objectives. Conclusion The issue of Corporate Governance can be considered as a concept of recent development in many countries, and it will surely take on greater importance than it did in previous years. In the System of Savings for Retirement since its design and implementation, the main principles of this scheme were incorporated, both in the work of account administration carried out by the managers, and in the management of the social savings made by the corporate governance experts (Mallin, 2016). Examples include the Wal-Mart staff retirement schemes, Wal-Mart has a great retirement scheme for its employees and although it has not been particularly good to its customers and has often been criticized. The corporate managers are at the forefront with files such as the participation of independent Directors in the Boards of Directors of the company, the figure of the regulatory comptroller and the structure of the Investment Committee. References Berk, J. and DeMarzo, P. (n.d.).Corporate finance. Farrar, J. and Hanrahan, P. (n.d.).Corporate governance. Hilb, M. (n.d.).New corporate governance. John, K., Makhija, A. and Hirschey, M. (2009).Corporate governance and finance. Bingley: Emerald Group Publishing Limited. Kim, K., Nofsinger, J. and Mohr, D. (2010).Corporate governance. Boston: Prentice Hall. Mallin, C. (2016).Corporate governance. Oxford: Oxford University Press. Tourani-Rad, A. (2006).Empirical studies in corporate finance and governance. [Bradford, England]: Emerald

Information and Media Imperialism Essay Example

Information and Media Imperialism Essay New imperialism Information and media imperialism? n Christian Fuchs University of Salzburg, Austria ABSTRACT This article explores whether contemporary society can be characterized as demonstrating a new form of the Marxist notion of imperialism and as informational/ media imperialism. In an attempt to answer this question, I employ Vladimir Lenin’s analysis of imperialism. Paying particular attention to the relevance of media and information, I test Lenin’s theories against macroeconomic statistical analysis of existing data. My analysis is structured according to Lenin’s five characteristics of imperialism: (1) the role of economic concentration; (2) the dominance of finance capital; (3) the importance of capital export; (4) the spatial stratification of the world as result of corporate dominance; and (5) the political dimension of the spatial stratification of the world. The results demonstrate that Lenin’s theories should be reloaded for contemporary media and communication studies. KEY WORDS communication n globalization n Lenin n media n new imperialism Introduction In recent years, the notions of imperialism and capitalist empire have gained importance in critical globalization studies. This discourse forms the background and context for this paper. In the 20th century, the notion of imperialism has been primarily advanced by Marxist theorists, such as the classical theories of imperialism (Nikolai Bukharin, Karl Kautsky, Vladimir Lenin, Rosa Luxemburg, etc. ). Within this context, thi s paper deals with the question: Is the new imperialism an informational imperialism? My goal is to make a contribution to the new imperialism debate rom an information-, media- and communication-studies perspective. The notion of imperialism employed is Lenin’s classical one, so the task becomes to analyse the role of the media in a contemporary reactualization of Lenin’s notion of imperialism. The main section of the paper is structured according to the Global Media and Communication [1742-7665(2010)6:1] Volume 6(1): 33–60 Copyright  © 2010 SAGE Publications (Los Angeles, London, New Delhi, Singapore and Washington DC: http://gmc. sagepub. com)/10. 1177/1742766510362018 33 34 We will write a custom essay sample on Information and Media Imperialism specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Information and Media Imperialism specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Information and Media Imperialism specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Global Media and Communication 6(1) sequence of the five characteristics of imperialism employed by Lenin (1917). Each of these sections discusses the question if a specific quality of imperialism is topical. The interest in Lenin’s theory is analytical and grounded in the recently emerging academic debate on the role of Lenin’s theory today (cf. e. g. Budgen et al. , 2007; Lih, 2005; Zizek 2004a). Contemporary theories of imperialism, empire and global capitalism can be categorized on a continuum that describes the degree of novelty of imperialism. At one end of the continuum there are authors who argue that imperialism no longer exists today and that a post-imperialistic empire has emerged. The stress is on discontinuity (e. g. Hardt and Negri, 2000, 2004; Negri, 2008; Panitch and Gindin, 2004, 2005; Robinson, 2004, 2007; for a discussion of Hardt and Negri see Buchanan and Pahuja, 2004; Callinicos, 2003b, 2007: 345; Laffey and Weldes, 2004; Zizek, 2004b). At the other end of the continuum there are authors who argue that contemporary capitalism is just as imperialistic as imperialism 100 years ago or that it has formed a new imperialism. The stress is on continuity (Callinicos, 2003a, 2003b, 2005, 2007; Harvey, 2003, 2005, 2006, 2007; Wood, 2003; Zeller, 2004a, 2000b). A middle ground is the assumption that imperialism has re-emerged and been qualitatively transformed, that through capitalist development and crisis new qualities of capitalism have emerged and others been preserved, and that the new qualities on the one hand constitute a return to capitalist imperialism, but that on the other hand there are aspects of imperialism today that are different from the imperialism that Lenin, Luxemburg, Kautsky and Bukharin described 100 years ago (O’Byrne, 2005; Sklair, 2002). For Lenin, there are five characteristics of imperialism: 1) The concentration of production and capital developed to such a stage that it creates monopolies which play a decisive role in economic life. 2) The merging of bank capital with industrial capital, and the creation, on the basis of ‘finance capital’, of a financial oligarchy. 3) The export of capital, which has become extremely important, as distinguished from the export of commodities. 4) The formation of international capitalist monopolies which share the world among themselves. ) The territorial division of the whole world among the greatest capitalist powers is completed. (Lenin, 1917: 237) Lenin defined imperialism as: capitalism in that stage of development in which the domination of monopolies and finance capital has established itself; in which the export of capital has acquired pronounced importance; in which the division of the world among the international trusts has begun: in which the division of a ll Fuchs New imperialism 35 the territories of the globe among the biggest capitalist powers has been completed. (Lenin, 1917: 237) Lenin gave close attention to the empirical data that was available at his time. He undertook ‘enormous preparatory work’ (Labica, 2007: 223) for his work on imperialism that is documented in his 21 ‘Notebooks on Imperialism’ (Lenin, 1912–1916), which contain notes on 150 books and 240 articles. To re-engage with Lenin’s theory of imperialism today should therefore be an examination and update of his theoretical arguments and the support of these arguments by data in the same empirical rigour that Lenin showed in his own work and that contemporary works unfortunately frequently lack. Updating Lenin can be undertaken by substituting ‘for the data he presented what we have available today’ (Labica, 2007: 232). To repeat and reload Lenin today means ‘to retrieve the same impulse in today’s constellation’ (Zizek, 2004a: 11; see also Budgen et al. , 2007: 1–4). This also means to take Lenin as a theoretical and methodological impulse for contemporary critical globalization studies. The connection of imperialism and the information sector is not specific for new imperialism. So, for example, Boyd-Barrett has shown that already in the 19th and early 20th century the big news agencies Havas, Reuters and Wolff ‘were based in imperial capitals’ and their expansion ‘was intimately associated with the territorial colonialism of the late nineteenth century’ (Boyd-Barrett, 1980: 23). At the time of Lenin, they served as government propaganda arms in the First World War (Boyd-Barrett and Rantanen, 1998: 7). For example, Reuters ‘was for the most part the unofficial voice of the Empire, giving prominence to British views’ (Thussu, 2006: 11). Winseck and Pike (2007) show with the example of the global expansion of cable and wireless companies (such as e. g. Western Union, Eastern Telegraph Company, Commercial Cable Company, Atlantic Telegraph Company or Marconi) in the years 1860–1930 that at the time of Lenin there was a distinct connection between communication, globalization, and capitalist imperialism. The growth of a worldwide network of fast cables and telegraph systems, in tandem with developments in railways and steamships, eroded some of the obstacles of geography and made it easier to organize transcontinental business. These networks supported huge flows of capital, technology, people, news, and ideas which, in turn, led to a high degree of convergence among markets, merchants, and bankers. (Winseck and Pike, 2007: 1) 2 The new imperialism and the information economy In the next five subsections, I will analyse which role information industries play in each of the five characteristics of imperialism today. The sequence of discussion is structured according to Lenin’s five qualities of imperialism. 36 Global Media and Communication 6(1) 2. The concentration of capital in the information sector The enormous growth of industry and the remarkably rapid process of concentration of production in ever-larger enterprises represent one of the most characteristic features of capitalism. (Lenin, 1917: 178) Lenin identified an antagonism between competition and monopoly as an immanent feature of capitalism (Lenin, 1917: 180, 185, 236, 260ff. ). The formation of monopolies and the concentration of capita l are for Lenin not an exception from the rule of competition, but a necessary outcome of capitalist competition. Concentration indicators that Lenin used included: the development of the number of large enterprises; the share of workers in the economy that are employed by large enterprises; and the share of output in an industry that is produced by large enterprises. One way in which industries become more concentrated is through mergers and acquisitions (MA). Figure 1 shows that the finance sector accounted for the largest share of the mergers and acquisitions (MA) in 2006: 24. per cent (1717) of all MA, whereas the transport, storage and communication sector accounted for 5. 4 per cent (379) of all MA and the printing and publishing industries accounted for 2. 0 per cent (142). All of these sectors have experienced dramatic rises in the number of MA, but the largest and most rapid increase is in finance, which is an indication that finance is the most heavily concentrated sector. Figure 1 Total number of mergers and acquisitions in selected industries Source: Author’s figures based on UNCTAD data. Fuchs New imperialism 37 Figure 2 Share of the number of large corporations (gt;250 employees) in total number of corporations (EU27 countries) Source: Author’s calculations based on Eurostat. Within the framework of the study of capital concentration, one can analyse the concentration of information sectors. Large informationproducing companies, which are those firms that have more than 250 employees, make up only a small share of the overall number of information companies in the EU27 countries (Figure 2). In information-producing branches, a small number of large companies accounts for a large share of the total employees, total turnover and total value added. These shares are higher than in industry and services in general for most information branches. This applies especially in the areas of post/ telecommunications and the manufacturing of communication equipment (Figures 3, 4, 5). In post and telecommunications, large companies make up 0. 9 per cent of all companies and account for 87. 8 per cent of all employees, 87. 2 per cent of total turnover, and 91. per cent of total value added. In the manufacturing of communication equipment, large companies make up 1. 6 per cent of all companies and account for 65. 5 per cent of all employees, 84. 1 per cent of total turnover, and 76. 8 per cent of total value added. A high concentration of information industries is not only specific for Europe, but can also be found in the United States (Figure 6). In the entire US media sector, there we re 330 large corporations (gt;1000 employees), which accounted for 0. 01 per cent of all media corporations in 2002, but controlled 78 per cent of all revenues. In the telecommunications sector, 72 large corporations made up 0. 9 per cent of all companies in the industry, but controlled 88 per cent of all sector-wide revenues. 38 Global Media and Communication 6(1) Figure 3 Share of large companies (gt;250 employees) in total employees (EU27) Source: Author’s calculations based on Eurostat. Figure 4 Share of turnover by large companies (gt;250 employees) in EU27 countries Source: Author’s calculations based on Eurostat. Information industries are not the only ones that are highly concentrated. So for example in the EU27 countries, value added is very highly concentrated in the mining of coal and lignite and the extraction of peat (large companies account for 4. 9 per cent of all companies and for 92. 9 per cent of sectoral value added), the manufacture of tobacco products (20% are large companies and account for 93. 7% of value added in the industry), and the manufacture of coke, refined petroleum products and nuclear fuel (9. 9% are large companies and account for 93. 1% of sectoral value added) (data for 2005, Eurostat). Fuchs New imperialism 39 Figure 5 Share of value added (at factor cost) controlled by large companies (gt;250 employees) in EU27 countries. Source: Author’s calculations based on Eurostat. Figure 6 Media concentration in the USA Source: Author’s calculations based on US 2002 Economic Census 40 Global Media and Communication 6(1) Information sectors, such as publishing, telecommunications and the manufacturing of communication equipment, do not form the most concentrated economic sector, but are among the most highly concentrated industries. . 2 Finance capital and information capital [Finance capital] is the bank capital of the few big monopolist banks, merged with the capital of the monopolist combines of manufacturers. (Lenin, 1917: 237) Under imperialism, finance capital commands: almost the whole of the money capital of all the capitalists and small businessmen and also a large part of the means of production and of the sources of raw materials of the given country and of a number of countries. (Lenin, 1917: 190) The banks’ control of the flow of investment money that is used for operating corporations gives them huge economic power for controlling the capitalist economy (Lenin, 1917: 194). Lenin mentioned that banks are influential in accelerating technical progress (Lenin, 1917: 202). Capital concentration and the formation of finance capital are connected developments (Lenin, 1917: 203). Finance capital aims at generating extraordinarily high rates of profit (Lenin, 1917: 210). A finance oligarchy consisting of rentiers would emerge in imperialism (Lenin, 1917: 213). The indicators that Lenin used for verifying the second characteristic of imperialism, included: development of the percentage of total deposits controlled by banks of a certain size (measured by total controlled capital); development of the number of holdings and establishments of certain banks; development of the number of letters received and dispatched by certain banks; development of the amount of capital held by certain banks; development of the capital invested by certain banks in a country; development of the profit rate of certain banks; and development of the total securities issued by certain banks. How important are information companies in comparison to finance corporations in the world economy? In order to give an answer, I have analysed the 2008 Forbes list of the world’s 2000 biggest companies by economic sectors. The results are presented in Figure 7. Finance companies and financial service corporations together accounted for the vast share of capital assets in 2008 (75. 96%). The second largest sector was oil, gas and utilities (5. 82%). The third largest sector was the information sector (4. 3%), comprised (for statistical reasons) of the following sub-domains: telecommunications; technology hardware and equipment; media content; software; and semiconductors. Fuchs New imperialism 41 5. 82% 4. 63% 1. 96% 1. 51% 1. 48% 1. 36% 1. 29% 0. 97% 75. 96% Finance (Banking, Financials, Insurance) Oil Gas Operations, Utilities Information (Telecommunications, Technology Hardware Equipment, Media, Software Services, Semiconductors) Consumer Durables Food (Food, Drinks Tob acco; Food Markets; Hotel, Restaurants Leisure) Conglomerates Materials Transportation Construction Figure 7 Share of selected industries in total capital assets of the world’s largest 2000 corporations. Source: Author’s figures based on Forbes 2000, 2008 list. Information companies are important in the global capitalist economy, reflecting a trend towards informatization, that is, the rise of the importance of information in economy, but they are far less important than finance and the oil and gas industry. Fossil fuels are still very important in the contemporary economy. This is an indication that industrial society is not over, and that we have entered a hyperindustrial area, in which information production, selling and consumption becomes an important factor of the overall economy, but are still no substitute for the economic importance of finance capital and fossil fuels. Financialization, hyperindustrialization and informatization characterize contemporary imperialist capitalism. The data in Figure 8 are for the year 2007. Data for the year 2008 (Forbes, 2000: list for 2009, available online at Forbes. com), which was the year a new worldwide economic crisis started, show that the financial sector suffered tremendous losses. The world’s biggest 176 diversified financial corporations had combined losses of $46. 27 billion, the world’s 92 largest insurance companies sustained losses of $61. 8 billion. Nonetheless, the financial sector still accounted for 74. per cent of all assets of the world’s 2000 largest corporations, oil, gas and utilities for 6. 2 per cent, and the information economy for 4. 6 per cent. These are only minor changes in comparison to 2007, which shows that the economic crisis did not undermine the inner-capitalist hegemony of financial capital. 42 Global Media and Communication 6(1) 2. 3 Capital export and the information industries Under modern capitalism, when monopolies prevail, the export of capital has become the typical feature. (Lenin, 1917: 215) The goal of imperialism is for Lenin the achievement of high profits by exporting capital to countries in which `capital is scarce, the price of land is relatively low, wages are low, raw materials are cheap (Lenin, 1917: 216). Indicators that Lenin used for verifying the third characteristic of imperialism included the absolute amount of capital invested abroad by certain nations and the geographical distribution of foreign direct investment. What are the most important economic sectors in capital export and the outsourcing of production? In which areas is the economy most globalized? What is the role of the information sector? Figure 8 shows that transport, storage and telecommunications has been the fastest growing sector of foreign direct investment (FDI) in the past 20 years (from 1. 6% to 7. 6% of all FDI inflows). Nonetheless, information industries are not dominant; more important in FDI than transport and communication are the sectors of finance, mining/quarrying/petroleum, and trade. Figure 8 Selected sectors of FDI (inflows). Source: Author’s figures based on data from UNCTAD. Fuchs New imperialism 3 A number of authors have argued that global/transnational media organizations have emerged (Appadurai, 1990/2006; Herman and McChesney, 1997; McChesney, 1999; Rantanen, 2005; Schiller, 1991/2006; Sklair, 2002: 164–207; Sreberny, 1991/2006). Herbert Schiller (1991/2006: 297) speaks in this context of ‘transnational corporate cultural domination’. Edward Herman and Robert McChesney (1997 , see also McChesney 1999: 78–118) argue that global media advance corporate expansion by advertising and create an ideological environment for a global profitdriven social order. Neoliberalism and mergers and acquisitions would have resulted in a tiered global media system dominated by a small number of colossal, vertically integrated media conglomerates (measured by annual sales), such as News Corporation, Time Warner, Disney, Bertelsmann, Viacom, ATT (TCI), Vivendi (Seagram acquired MCA in 1995 and Polygram in 1998 to became the Universal Music Group, which became part of Vivendi in 2000), General Electric (NBC), or Sony (Herman and McChesney, 1997: 52ff. , 72–105; McChesney, 1999: 86ff. ). The main feature of the global media system is, for Herman and McChesney (1997: 152), the global implantation of a model of privately owned commercial media. Possible negative effects would be the global spread of consumption as lifestyle, the displacement of the public sphere with entertainment, the strengthening of conservative political forces, and the erosion of local cultures (Herman and McChesney, 1997: 154ff. ). Other scholars are more sceptical, doubt the emergence of global media, or argue that their existence is a myth (Flew, 2007; Hafez, 2007). Terry Flew (2007: 87) lists data on the foreign asset share, the transnationality index, and the foreign revenue share of Time Warner, Disney, News Corporation and Viacom for the year 2005, in order to argue that ‘media corporations are less globalized than major corporations in other sectors’, globalization of media and entertainment is moving slowly, and that News Corporation is the only truly global media company (Flew, 2007: 87ff. ). This analysis is not convincing because inductive generalizations from data for four companies are not conclusive, the indicators are mainly consumption- and not production-oriented (in contrast to, for example, the share of foreign employees), and other information sectors are not taken into account. Not only media content producers are media companies, but also media infrastructure capital and media technology capital (telecommunications, software, hardware) should be taken into account. Also the internet, the computer, and the mobile phone are media. Colin Sparks (2007: 172–4) analyses the foreign assets and sales of News Corporation and Viacom (for 2002) and Time Warner (for 2004) and argues that global media are ‘centred in a single â€Å"home† country’ (Sparks, 2007: 174). 44 Global Media and Communication 6(1) Table 1 Transnationality index of the world’s largest information corporations Year Top 100 average TNI of all included corporations Information corporations’ average TNI N (Number of information corporations in ranking) 2001 55. % 60. 2% 26 2002 57% 55. 0% 22 2003 55. 8% 55. 3% 21 2004 56. 8% 55. 9% 21 2005 59. 9% 59. 5% 20 2006 61. 6% 61. 7% 18 Source: Calculations based on World Investment Reports 2003–2008. I have analysed the transnationality data that is published in the annual World Investment Report by UNCTAD. UNCTAD’s transnationality index (TNI) measures the global dimension of a company by a composite measure that covers the world largest companies’ shares of assets, sales and employees outside of the home country. Table 1 shows the average TNI of the top 100 corporations listed in the World Investment Reports (UNCTAD, 2003–2008) and the average of information corporations. Information/media corporations are in this context defined as all companies from the domains of computer and related activities, electrical and electronic equipment, media, printing and publishing, and telecommunications. Media content capital and media infrastructure capital have a common referent – information – so summarizing these companies under the category of information corporations or media corporations is feasible. The data show that the TNI of the largest information corporations has in the years 2001–2006 been close to the total average and that the information companies covered by the TNI are more global than local in their operations, which casts doubt on the assumption (made by Flew, Hafez, and others) that there are no global media corporations. Table 2 shows further indicators for the degree of transnationality of information corporations: the average share of foreign ssets in total assets, the average share of foreign sales in total sales, the average share of foreign employment in total employment, and the share of foreign affiliates in total affiliates. The values for the 18 information corporations that are included in the 2006 list of the world’s top 100 TNCs are compared to the total average values for all 100 included companies. For calculating these shares, I treated all companies (and respectively information companies) as a totality (what Marx [1867: 344] termed à ¢â‚¬Ëœcollective capital’) so that the shares were calculated based on aggregated values. Fuchs New imperialism 45 Table 2 Indicators of the degree of transnationality of the world’s largest Information corporations (N = 18) Average of all corporations Foreign assets share Foreign sales share Foreign employment share Foreign affiliates share 61. 39% 64. 35% 60. 48% 69. 38% Information corporations: average 62. 50% 64. 05% 58. 36% 68. 15% Source: Calculations based on data for 2006, World Investment Report 2008 Statistical data suggest that the globalization of media/information corporations is not a myth, as claimed by scholars like Hafez and Flew. There surely is not a purely global media system – as transnational corporations are grounded in their respective national economies. But global production in the form of outsourcing, subcontracting and spatially diffused production seems to be an emergent quality of capitalism and therefore also of information corporations. Indicators such as the transnationality index, the foreign assets share, the foreign sales share, the foreign employment share, and the foreign affiliates share allow measuring the degree of transnationality of information companies. Data for the world’s largest information companies suggest that although they are fairly grounded in national economies, they follow the general trend of TNCs to have the majority of their assets, sales, employment and affiliates located outside of their home countries. This is not a uniform pattern, but a general trend. Emergent qualities are additions to old qualities that transform systems, but do not supersede and eliminate them. Transnationality is not something entirely new; instead – it is a degree, measure and tendency. Globalization of the media is something different from fully global media: certain media corporations become more global, parts of production are outsourced to other countries and parts of sales are achieved in other countries. The degree of sourcing, investment, affiliations, employment, assets, sales and profits outside the home country are indicators for the degree of globalization of a media corporation. That the calculated average shares are close to 60 per cent is an indication not for the emergence of fully global information corporations, but for the globalization of the operations of information corporations. These information TNCs are all capitalist in character, each focuses on capital accumulation on national and transnational levels that are interlinked. 46 Global Media and Communication 6(1) Transnationality is an emergent quality of the informational dimension of new imperialism. Transnationality is not entirely global, but an emergent quality in comparison to Fordist capitalism, in which many corporations were either state owned or rather nationally contained by regulation. Concerning the world’s largest information corporations, corporate structures have become global and ever more influenced by media and information. Media globalization then means that corporatism – the structuration of media organizations according to the logic of capital accumulation and profit maximization – has expanded its worldwide scope. Corporatism rules the world, therefore it also rules media and information organizations, which have increasingly been transformed into media corporations in processes of accumulation by dispossession that transform information and technology into commodities or intensify their commodity character. A further aspect of media globalization is that in the 20th century, global communication networks (telephone, internet) have emerged (Thompson, 1995/2000), which today allow communication and the transmission of information in real time over distance by time–space compression. How important are information products and information services in world trade? Figure 9 shows that fossil fuels are the most important goods in the world trade of manufactured goods, followed by media products, and transport vehicles. Fossil fuels and the car have been characterized as being characteristic for Fordist industrialism or for the third and fourth long wave (Boyer, 1988; Freeman and Perez, 1988; Mandel, 1972/1998), whereas microelectronics is frequently considered as ‘post-industrial’. Concerning world trade, the data show that post-industrialism has not superseded industrialism, the information economy and the traditional industrial economy exist together. The only claim that could be made based on this data is that the structure of world trade is characterized by the dominance of a ‘mobilities paradigm’ – the trade of goods that allows ‘the movement of people, ideas, objects and information’ (Urry, 2007: 17). UNCTAD launched the Creative Economy Database in 2008. The creative economy is defined as consisting of the ‘creation, production and distribution of goods and services that use creativity and intellectual capital as primary inputs’ (UNCTAD, 2008: 13). This includes products in the areas of cultural sites, traditional cultural expressions (arts, crafts, festivals, celebrations), performing arts, audiovisuals, new media, design, publishing and printed media, visual arts, and creative services (architectural, advertising, creative RD, culture, recreation). Figure 10 shows the development of the share of creative industry exports in total Fuchs New imperialism 47 Figure 9 Share of specific product groups in total exported goods. Source: Author’s figures based on data by UNCTAD. exports in the years 1996–2005. Related industries cover supporting industries or equipment, such as media infrastructures. The combination of creative goods (3. 2%), creative services (0. 8%) and related industries (5. 5%) accounted for 9. 55 per cent of world exports in 2005. This again confirms that information products and services are important in world trade, but not more important than fossil fuels and vehicles, and therefore not dominant. Finance, mining/quarrying/petroleum, trade, and information are the most important economic sectors of foreign direct investment. Finance is the dominant sector in both FDI and world trade. Figure 10 Share of creative industries in world exports. Source: Author’s figures based on data by UNCTAD Creative Economy Database. 48 Global Media and Communication 6(1) Transnational information corporations do not operate entirely globally. They are grounded in national economies, but a certain degree of their operations, assets, employees, sales, profits and affiliates are located beyond their home economies so that a national–transnational nexus is established. Transnationality is an emergent quality, a measure, degree and tendency. Media globalization furthermore also means the global influence of the neoliberal logic of accumulation by dispossession on media. In world trade, information goods and services are the second most important category, and transport vehicles the third most important sector. The data indicate that capital export and world trade are not dominated by the information sector, but that financialization, hyperindustrialization by continued relevance of fossil fuels and the car, and informatization are three important economic trends of the new imperialism. Financialization is the dominant factor. 2. 4 The economic division of the world and information corporations Lenin argued that under imperialism, big companies dominate the economy. They would divide among themselves spheres of influence and markets and would make use of cartels, syndicates and trusts. Finance capital struggles ‘for the sources of raw materials, for the export of capital, for â€Å"spheres of influence†, i. e. , for spheres of good business, concessions, monopolist profits, and so on; in fine, for economic territory in general’ (Lenin, 917: 266). Lenin used the following indicators for the fourth characteristic: the number of sub-companies of certain corporations, the development of turnover, the number of employees, and the net profits of specific big companies. Whereas the third characteristic focuses more on economic activities that cross nation-state borders and the economic benefits that are derived from it, the fourth characteristic covers the spatial dimension of these activities. This distinction is indicated by the term ‘division of the world among capitalist combines’ (characteristic four) in contrast to the term ‘the export of capital’ (characteristic three). The two characteristics are nonetheless certainly closely linked. Table 3 shows the share of corporations based in developing and developed countries in the industries that constitute the Forbes 2000 list of the world’s biggest corporations. The share of corporations that have developing countries as their home bases ranges between 0 and 20 per cent, which is

Nike Marketing Research Paper Example

Nike Marketing Research Paper Example Nike Marketing Paper Nike Marketing Paper For years, we thought of ourselves as a production-oriented company, meaning we put all our emphasis on designing and manufacturing the product. But now we understand that the most important thing we do is market the product. Weve come around to saying that Nike is a marketing oriented company, and the product if our most important marketing tool. -Phil Knight1[i] Marketing is a group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas. [ii]Marketing is an extremely important aspect of every single company because it is what introduces the company and the companys products to the public. Through marketing businesses try to respond to what the consumer wants and needs and to foresee changes in the environment. Marketing is what sells the product. Marketing is more than just advertising; it is about pleasing the customer. The main focus of marketing is to generate utility, which by definiti on, is a products ability to satisfy human needs and wants. 1[iii]A product should make a customer happy, and make them want to buy again in the future. It is quite common that companies have to change their marketing campaigns in order to satisfy the public opinion. Although marketing is enormously important, it wouldnt be very effective without creating a quality product. In order for a customer to want to buy from that company again they have to be satisfied with their first purchase, and this satisfaction cannot be attained without creating a product of the highest quality. A company must have an expansive research and development team to improve the product and to offer the highest quality product to its consumers. This team has to undergo a process that includes brainstorming, screening, developing, and testing new products. This process allows for the development of a high quality product, and a product that consumers are going to want to purchase. Nike has been able to develop successful advertising campaigns and effectively market their products through the hard work of the Wieden and Kennedy Advertising agency, which understands the needs and desires of consumers and has successfully throughout the years marketed the products of Nike. Throughout the years Nike has had many different advertising campaigns, some more successful than others, but always created to reflect public opinion. What is most important though, is that Nike has changed their campaigns, in order to satisfy public preference. In the 1980s Phil Knights company, Nike, exceeded a billion dollars and the company never again looked back. It was than that Phil Knight realized that he needed to not only improve but also expand upon his marketing tactics. Nike continued to grow and to establish itself as the number one in its industry. Nike has effectively marketed their products and in addition understands the importance of a quality product. They are continually improving their shoes through new technologies that are developed by their research teams. An example of this is their Shox sneakers, which are designed to add a little spring to your step. This is a new technology that Nike has developed. Other new concepts or technologies that Nike has marketed and developed throughout the years has been their Alpha Line, the Nike ID line; which allows customers to customize the shoes that they purchase, the AirMax line, the Hyper Flight; Nikes lightest weight basketball shoe ever, Air Presto Faze; a lace less, slip-on running shoe. In addition to understand the importance of a quality product Nike also understands the necessity of effective marketing and this requires an understanding of public opinion. In the last few years Nike has seen a change in the focus of their advertising because a change in society and how society views professional athletes. During most of the 1980s and 1990s professional athletes were looked up to as heroes and kids and adults wanted to be like them and aspired to attain this greatness that these athletes carried with them. But this new group of professional athletes that society is currently seeing can no longer be considered heroes. Many of them have had problems with the law; they have had drug and alcohol problems or have even been arrested. Children no longer aspire to be these athletes. Children no longer strive to be like someone else as much, they have this desire to be the best person that they can be and society stresses the importance of the individual. In 1984 Michael Jordan joined the Nike team. Michael Jordan became an official spokesman for Nike. He appeared in many of their advertisements. Nike used Michael Jordan and other great athletes to capitalize on the youths desire to be like them. This is where the slogan Be Like Mike came from. People wanted to be like Michael Jordan, Nike understood this and used it to sell their products. If people wanted to be athletically as talented as Jordan, they would also want to look like him, and wear the shoes that he played in. If he was able to play so great in these shoes maybe I can to, is the idea, which Nike was working off of. Using professional athletes in their advertising campaigns was both efficient and effective for Nike. Phil Knight in an interview in the Harvard Business Review quoted It saves us a lot of time. Sports are at the heart of American culture, so a lot of emotion already exists around it. Emotions are always hard to explain, but theres something inspirational about watching athletes push the limits of performance. You cant explain much in 60 seconds, but when you show Michael Jordan, you dont have to. 1[iv] Sports marketing was a major part of Nikes advertising campaign up until recently. Although Michael Jordan was the major spokesperson for Nike, he was not the only athlete that Nike used to sell their products. Nike has included women athletes such as Monica Seles and Mia Hamm. Both us these women represented strength and were positive role models for young girls. Nike used this to market their products to girls and to inspire woman through successful women athletes. Nike has also used other men in their campaigns; a few are Michael Johnson, Pete Sampras, John McEnroe, and Andre Agassi. These male athletes were positive role models and athletes in which people aspired to be. When Michael Jordan retired in January of 1999 Nike needed to find a new hero, a new athlete as great as Michael Jordan and as widely accepted for children to aspire to be. Unfortunately the professional sports market no longer boasted any Michael Jordans. Nike started promoting Tiger Woods and a golf line, but Tiger Woods is just not an athlete that all children look up to and want to be. Black respondents said hes corny and acts like hes white, while white respondents said his clothes look funny. 1[v]Nike could not find an athlete that replaced Michael Jordan. Many of the professional basketball stars are not the kind of people that children look up to. Athletes like Litrell Sprewell and Allen Iverson who are excellent athletes and talented basketball players have had problems with the law, and are not people that adults want children to look up to. Not only have young people lost some of the respect that they hold for professional athletes because of their behavior, some young people are turned off by the contract wars that goes on between athletes and team managers. And also the competition that occurs over having the highest salary; for example many people were turned off by Alex Rodriguezs 250 million dollar contract, because they felt that professional sports were no longer about sports, but about money. In addition to the changing caliber of professional athletes there is a greater emphasis placed on the individual. And being your own person. People are proud of their uniqueness and individuality and they want to express this. With this new school of thinking Nike has created new advertising campaigns to satisfy public opinion. Dave Larson, Nikes brand initiatives director stated, The idea for the marketing campaign came from some of Nikes own research. We went out and asked kids whom they aspired to be. We figured that we would hear, I want to be like Mike, but what we heard was I want to be my own me. 1[vi]Nikes new campaigns no longer revolve around professional athletes, but rather individual athleticism and individual success. Nike has departed from using athletes as their main form of advertisement and has moved to advertising the everyday man and woman and expressing the importance of individuality. Recently Nike has launched many new advertising commercials. The first is a commercial that shows a city and is based on the premise that adults never stopped playing tag. A man is tagged from behind and then the bustling city becomes deserted as everyone runs to hide. This man is now IT, and he cant continue on with his day until he tags someone else IT. The second commercial is called Shade Running, and it follows a woman running through a city, but she can only run where she finds shade. The third commercial is called tailgating. This commercial follows two people, one man following close behind the other, tailgating him and invading his personal space; by bouncing a basketball as close to this individual without actually touching him. These three commercials are supposed to send out the message that there is joy and simplicity to expressing ones individualism through sport. Have a little fun dont limit yourself to narrow rules or succumb to the thats how its always been done trap. ( nikebiz. com/)1[vii] These three campaigns are supported and aided by what is known as Nike Play. This campaign runs both commercials and events, and is the epitome of the shift that Nike has undergone to reflect the changing public opinion. Nike has created a website ( nike. com/play)1[viii] that tells the story of this campaign and allows viewers to view short videos of kids putting their own take on sports. It shows people showing off their moves in events such as basketball moves, soccer dribbling, BMX biking, double-Dutch break-dancing and other extreme and individual events. Nikes Play campaign stresses individual achievement and encourages everyone to participate. Another new campaign that Nike is currently running is its Boing advertisements. These are for Nikes Shox sneakers and Wieden and Kennedy have coined a term to describe the experience that these sneakers offer for you. Displays for Shox at sneaker stores, allow customers to hear the Boing sound. The public has responded positively to Nikes new advertising campaigns and the difference in their focus. Many people have attended the Nike Play festivals in support of the new Nike campaign, which is based around individualism and individual sports. Many citizens have recently questioned some of what professional sports have come to stand for. Some people feel that these teams are no longer about promoting athleticism, but rather about making the most money. In addition people feel that these professional athletes are no longer role models for the countries youth and are not people to aspire to be. With this switch in public opinion more emphasis has been placed on the individual and on the simplicity of athleticism. In the near future, Nike will more than likely continue on with its trend of supporting the individual and athleticism as opposed to revolving its entire campaign around professional athletes. This is because of a changing view in society and because more emphasis has been placed on the individual. Successful marketing advertises public opinion, and that is what Nike is doing through their new marketing strategies. Nikes marketing campaign reflects the popular preferences in society and the stress that society is putting on individual uniqueness.

Comparison between the Number of Websites of the Gulf Cooperation Research Paper

Comparison between the Number of Websites of the Gulf Cooperation Council (GCC) and Its Services and E-government Website - Research Paper Example However, in order to distribute information on the internet, an interface is used, which is known as a Web site. A Web site contains a lot of hyperlinks and contents conveying the message of that particular Web site (Norton, 2001; Shelly et al., 2005). For instance, a web site of a university contains information about that university. In the same way, the Hukoomi is a Web Portal, which offers the people access to information regarding the State of Qatar. It links us with government programs, services, initiatives and events (Government of Qatar, 2012). In addition, through cooperation with government organizations and public service suppliers, the Hukoomi has appeared to build online information more readily accessible at our fingertips. Additionally, the online national web portal hosts a number of significant e-services, and government service application, documents, forms and general information (Government of Qatar, 2012). This report presents a detailed comparison between a num ber of Web sites of the Gulf Cooperation Council (GCC) and their services and other e-government websites to know the country and the needs of the Country Website development and optimization and preference. This report will present a detailed analysis of a wide variety of aspects of the Hukoomi, in comparison with rest of the Gulf States in terms of electronic services and e-government support. The basic purpose of this comparison is to determine the needs and requirements that are necessary to know for building an effective and informative web site. This analysis will determine what should be included in the web site to make it more perfect, with the intention that it could better serve its community. A detailed Comparison This section presents a detailed comparison between different web sites. For this purpose, I have divided this comparison into different parts (depending on the features of a web site). In this scenario, I will compare different features and services which are a vailable or should be available at Hukoomi but it is not there and what services are available on other portals: 1- National Overview The first feature or support that we will analyze in this comparison is about presentation of national overview. In this scenario, the Hukoomi offers a good national overview; however at this web site comprehensive national overview is missing. The national overview of Hukoomi can include information regarding national resources, population, geography and tourism. On the other hand, the Main Page of existing website does not contain such details. As this web site is aimed at presenting a detailed overview of the country so it needs to offer a brief but comprehensive overview of the State of Qatar. In this scenario, we need to add some links in a small portion of the Main Page of the website so

Network Securty Hardware and IDS systems Research Paper

Network Securty Hardware and IDS systems - Research Paper Example Routers have a built-in mechanism, which ensures LAN protection by blocking the packets invalid packets from moving on the LAN. A router not only checks for the valid destination address but also ensures the delivery of flawless packets to the destination. If a router finds any sort of error in a packet, it discards that packet and sends the remaining message to the destination. Therefore, we can say that a router is a very important data transfer device used on a network. Topic # 2 An Intrusion Detection System (IDS) is a software application, which not only detects and stops unauthorized activities but also reports them to the network administrators for further action. One of the most famous Intrusion Detection Systems is Snort, which is used to detect the presence of worms, malicious activities, and unauthorized accesses. Haas (2010) states, â€Å"Snort is a libpcap-based packet sniffer/logger which can be used as a lightweight network intrusion detection system†. People ma ke use of Snort software to detect the hacking attempts on their networks. Snort examines every packet that a computer transfers over a network and reports transfer of suspicious packets to the administrators. Snort software manages a database in which it keeps all traffic signatures.

Definition And Types Of Social Capital

Definition And Types Of Social Capital Social capital is the the aggregate of the actual or potential resources which are linked to possession of a durable network of more or less institutionalized relationships of mutual acquaintance and recognition (Bourdieu 1983: 249). Social capital is defined by its function. It is not a single entity, but a variety of different entities, having two characteristics in common: they all consist of some aspect of a social structure, and they facilitate certain actions of individuals who are within the structure (Coleman 1994: 302). Whereas physical capital refers to physical objects and human capital refers to the properties of individuals, social capital refers to connections among individuals social networks and the norms of reciprocity and trustworthiness that arise from them. In that sense social capital is closely related to what some have called civic virtue. The difference is that social capital calls attention to the fact that civic virtue is most powerful when embedded in a sense network of reciprocal social relations. A society of many virtuous but isolated individuals is not necessarily rich in social capital (Putnam 2000: 19). Social capital refers to the institutions, relationships, and norms that shape the quality and quantity of a societys social interactions Social capital is not just the sum of the institutions which underpin a society it is the glue that holds them together (The World Bank 1999). According to John Field, the fundamental of social capital is that relationship matters. It helps people to commit themselves to people in the community. It eventually becomes a shared set of values, virtues and expectation within society as a whole. However, Robert Putman (1993; 2000) is the person who launched social capital which focused on research and policy discussions. The World Bank also chose social capital as a useful organising idea. They argue that increasing evidence shows that social cohesion is critical for societies to prosper economically and for development to be sustainable (The World Bank 1999). In this piece we explore the idea of social capital and the contribution by voluntary clubs to social capital. Types of Social Capital There are three types of social capital: bonding social capital, bridging social capital and linking social capital. Bonding social capital refers to the links between like-minded people, or the reinforcement of homogeneity. (Schuller, Baron, Field, 2000) Bonding Social Capital indicates ties between people in similar situation. It can be your neighbours, friends or even family. (Woolcock 2001: 13-4). Bridging social capital can be referred as building of connections between heterogeneous groups, which are likely to be more fragile, but more likely also to foster social inclusion. (Schuller, Baron, Field, 2000) Bridging social capital covers distant ties of like persons, such as workmates and fast friends. (Woolcock 2001: 13-4) Linking social capital, which reaches out to unlike people in dissimilar situations, such as those who are entirely outside of the community, thus enabling members to leverage a far wider range of resources than are available in the community. (Woolcock 2001: 13-4) The discussion of social capital is credited to three main theorists namely Pierre Bourdieu, James Coleman and Robert Putnam. Bourdieu stated that there are three kind of capitals, but for this paper we only look at Social Capital. Bourdieu provides a concise definition of social capital by stating: social capital is the aggregate of the actual or potential resource which is linked to the possession of a durable network of more of less institutionalised relationships of mutual acquaintance or recognition (p. 249). Field and Wynne said that people access other forms of capital through social capital. In sporting circumstances, Bourdieu gives an example of golf clubs where individuals network to facilitate business, a social practice that is not available to all members of a community given the exclusive nature of many golf clubs (Field, 2003; Wynne, 1999). According to Coleman, social capital is not a single body. It is a structure which facilitates certain action, which has positive outcome; otherwise it would not have been possible. Coleman, through his research, found out that the level of school drop-out rate had reduced due to parental investment and family social capital. Coleman, in this context defines social capital as a set of resources that are available in family relation which is important for social development of the child. These resources differ from person to person and an advantage to children to develop their human capital. (Coleman, 1994, cited in Coalter, 2007, p. 541) According to Putman, social capital is not just a public good but is for the public good. Putnam states that, bonding social capital are when people of the same community, with similar values associate together to achieve shared goals. They tend to reinforce restricted identities and are homogenous group. Putman also says that this kind of association have some negative points as they tend to exclude outsiders. Exclusion of outsiders here means that a football club will have a tendency to include supporters and players from a same background. They would try to exclude those who are not from the same background. On the other hand bridging social capital is heterogeneous in nature. Heterogeneity of social connections promotes linkage with different type of people. Bridging social capital however, has the potential to forge connections. People with same as well as from different background can connect within the community or outside the community (Narayan Cassidy, 2001). We can thus see that people who are connected through bridging social capital have a wider range of associates. They also got more opportunities. Therefore Bridging social capital is very important to enhance social inclusion and to develop communitys ability. Sports Volunteers: The Real Active Citizens? Sports Clubs are career for the expression of active citizenship through volunteering. Volunteers are more important than any other thing in a club or a sporting organization (Nichols, et al., 2004). Clubs provide an opportunity which helps the community by contributing to social capital through social interaction (Coalter, 2007; Long, 2008; Weed et al., 2005). The volunteers share their values, a reflection of the society where their expressions of collective values are encouraged, which is a positive contribution towards society. As Coalter (2007) points out the diffuse and contested nature of social capital is central to the social regeneration/social inclusion agenda (p. 159). The volunteers have a potential contribution to rebuild the social capital. Sport England (1999, p8) stresses volunteering as activity which is fundamental to the development of democratic society. It helps in contributing towards their public life and develops their communities. Consequently such policies are as much concerned with the instrumental use of sport for purposes of community development as they are in simply developing sport in the community (Coalter and Allison, 1996). The key policy message here is that the potentially positive benefits of sport are not only to be obtained via participation involvement in the organisation and provision of opportunities for sport and physical recreation can assist in the development of self-esteem and a series of transferable skills a view of volunteering as active citizenship.