Development Of A Child And Adult - 1552 Words

Teaching is necessary to educate children and adults in order to open a wider world and understanding. However, everyone takes in educational concepts differently and all adults and children have different speeds in which they develop. This concept leads to a few proposed theories which were studied by Lev Vygotsky and Jean Piaget in the early 20th century, possibly changing the way educators and psychologists viewed the development of a child and adult although their work did not receive light until recently. Between these educators, there are theories which are effective and some that are not, arising many criticisms. Nevertheless, the changes made as a result of these theories are studied through the scenario of Mr. Gino and Mrs. Van by†¦show more content†¦Gino is a secondary teacher who recently had the chance to observe the learning environment of Mrs. Vans primary school class. After these observations, he realised the importance of some elements such as engaging the students in class. As shown above and in Piaget’s theory, although group work can be important, independent learning must also be in place for children to learn. An example of this is assimilation, where students gain new knowledge and experience from their past mistakes building upon their preexistent schemas. As these schemas adapt to new knowledge over time, they evolve and it is stored in their long – term memory. However, Vygotsky, on the other hand, mentioned that in order to educate someone it must happen in small groups with one better performing student indicating the importance of the Zone of Proximal Development (ZPD) (Vygotsky, 1978). The ZDP is the difference between a child’s actual development level and potential development level, undertaken by a child performing tasks with assistance from a more knowledgeable/capable peer or teacher (Duchesne McMaugh, 2016). This notion is both effective on the social and cognitive development of a young child as the theory of play is also interconnected, helping the child to develop. The ZPD is very closely intertwined with the indication of scaffolding where teachers or others provide support towards the learner in order to enable a task to be completed successfully by adjusting to theShow MoreRelatedThe Development And Growth Of A Child Into Their Adult Years2510 Words   |  11 Pagesproposals, in regards to what they believe affects the development and growth of a child into their adult years. Three of these successful theorists include: Erik Erikson, Daniel Levinson, and George Herbert Mead. They each studied the developmental stages throughout one’s life in their own perspectives, each proposing a new and revised theory. Born in 1902, Erik Erikson was a psychologist best known for his study and theory of psychosocial development and the concept of the identity crisis. He has publishedRead MoreTheoretical Perspectives On Language Development1590 Words   |  7 PagesThis essay will consist of three theoretical perspectives on language development Burner, Vygotsky and Piaget. Each theory has key features that will be explained they are all opposing theories on language development; the main framework throughout this essay will be discussing the social interaction and cognitive development. In addition the essay will argue the main contrast and comparison using the key features that have been explained. Language is what separates mankind from any other species;Read MoreThe Effects Of Affective Development On Children Essay1457 Words   |  6 PagesAffective development can be defined as the emergence of the emotional capacity to experience, recognize, and express a range of emotions to adequately response to emotional cues of others. Adults play a very important role in the affective development in children. 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The term play can be used to illustrate a wide range of behaviors and activities, and can be perceived as both essential and insignificant to the child at the same time. Santrock (2012, p.437) suggests a definition of play as a pleasurable activity that is engaged in for its own sake. However, this is argued by Kernan (2007, p.5) who states that none of the potential definitions are broad enough to encompass all of the meanings associated withRead MoreLanguage Acquisition : What Is Encompassed By The Phrase Meaning Making Within Early Childhood? Essay1654 Words   |  7 Pageslanguage and if adults have an impact on the child’s language development will also be argued throughout. Meaning making is the process which children go through when making sense of the world around them, discovering how and why things happen. Wells (2009) suggests infants are born with a drive to make sense of their experiences and have successful strategies for doing so. The meaning making process involves the child having the opportunity to receive information and to be listened to. Adults have a keyRead MoreDescribe What Montessori Meant by â€Å"New Education†1594 Words   |  7 Pageschildren to develop her method of education. During these observations she has discovered that each child has their own urge to learn through their own way. She brought to light that children has an enormous ability which can be turned into positive energy and a new beginning. According to Dr Montessori; education should be aimed at human progress not only to gain knowledge. â€Å"It is the spirit of the child that can determine the course human progress and lead it perhaps even to a higher f orm of civilizationRead MoreJean Piaget And Vygotsky s Theory On Children s Cognitive Development1507 Words   |  7 Pagescognitive development. Both psychologists had their own vision of what stimulates and helps a child grow. Jean Piaget s theory was shaped through the thinking and understanding of how knowledge is built through a series of four stages; preoperational, sensorimotor, formal operational and concrete operational. He believed that the development was with the child themselves. On the contrary, Lev Vygotsky s theory is shaped through adult social interactions and cultural roles. He believed that a child sRead MoreVygotsky s Theory Of Internalisation1709 Words   |  7 Pagesdeveloped by Piaget, Vygotsky also characterised children as â€Å"active agents in their development†. (Duchesne, S., McMaugh, A.,2016p.103). As explained by Vygotsky in his theory, he suggests that development of a child can be attained socially as the child being the participant is b eing ‘internalised’ by the individual the child is interacting with (S.thinsan,2011), as Vygotsky mentioned ‘the direction of development is the social interaction with the individual’. (Duchesne, S., McMaugh, A.,2016Read MoreBenefits of Learining through Play1325 Words   |  5 Pagescognitive development. Play is important for children’s learning as it helps them to become socially adept, managing with stress and developing cognitive skills such as problem solving. Through play children explore social, material and imaginary worlds and their relationship with them. There are many different reasons why children play, sometimes they are discovering or learning new things. Play can be a way of building or strengthening relationships with either other children or adults. Children

Balance Sheet For Microsoft Corporation Accounting Essay Free Essays

Microsoft is the most outstanding engineering corporation in the universe that deals with computing machines, † With one-year grosss of more than $ 32 billion, Microsoft Corporation is more than the largest package company in the universe: it is a cultural phenomenon. The company ‘s nucleus concern is based on developing, fabrication, and licencing package merchandises, including runing systems, waiter applications, concern and consumer applications, and package development tools, every bit good as Internet package, engineerings, and services † . ( http: //www. We will write a custom essay sample on Balance Sheet For Microsoft Corporation Accounting Essay or any similar topic only for you Order Now fundinguniverse.com/company-histories/Microsoft-Corporation-Company-History.html ) hypertext transfer protocol: //www.referenceforbusiness.com/history2/14/Microsoft-Corporation.htmlA A A A hypertext transfer protocol: //www.redciencia.cu/empres/Intempres2000/Sitio/Principal/Conferencias/CUBA_Inteligencia % 20Empresarial/victor/bcrc6.htm †The name of the celebrated individual – Bill Gates comes in one ‘s head with reference of the name of Microsoft. He is the laminitis of the company and is believed to be the smartest coders of all time. † ( hypertext transfer protocol: //www.bighistory.net/microsoft-a-short-history/ ) . Led by him, Microsoft had witnessed its flowers and has been able to hold its merchandise on about every personal computing machine in the universe, and in the procedure making criterions in the engineering industry every bit good as market re-definition. †Gates was foremost exposed to computing machines at school in the late 60 ‘s with his friend Paul Allen. At 14 ; Gates and he ‘s friend were composing and proving computing machine plans. In 1972 they established their first company, Traf-O-Data, which sold a fundamental computing machine that, recorded and analyzed traffic informations. He ‘s friend went on to analyze computing machine scientific discipline at the University of Washington and so dropped out to work at Honeywell, while Gates enrolled at Harvard. In 1975, Gates and Allen wrote a version of BASIC for the new Altair personal computer kit merely released by MITS Computer. Later that twelvemonth Gates left college to work full clip developing programming linguistic communications for the Altair, and he and Allen relocated to Albuquerque, New Mexico, to be close MITS Computer, where Allen took a place as manager of package development. Gates and Allen named their partnership Micro-soft † . ( http: //www.fundinguniverse.com/company-histories/Microsoft-Corporation-Company-History.html ) . The word Microsoft was developed from two different words, micro from personal computer and soft from package. The name was registered in New Mexico in November 1976. On November 1978, the first international office of Microsoft was established in Japan and its name was ASCII ( American Standard Code for Information Interchange ) . It is now known as Microsoft Japan. In January 1979 the company ‘s central office was moved to Bellevue Washington. ( http: //www.bighistory.net/microsoft-a-short-history/ ) . In the early 80 ‘s, Microsoft witnessed a period of great success when IBM contracted the company to develop an operating system for its personal computing machines ( Personal computer ) , which was underway. In the late 80 ‘s Microsoft issued IPOs ( initial public offering ) of over two million portions and in the infinite of one twelvemonth the monetary value or the portions tripled and in the procedure doing Gates a billionaire at about 30 old ages of age. Harmonizing to Richard B, McKenzie ( 2000 ) †Microsoft bases accused of seeking to widen its market laterality by bear downing the lowest of all monetary values for its browser Internet Explorer † . Nonetheless ; the company had tonss of other critics and legal instances against it from rivals and the likes. Microsoft success was further heightened by the tech bubble of the 2000 following the release of the Windowss XP, windows 2000, the acquisition of Visio corporation which stood as the largest acquisition in the life of Microsoft so far with dealing value of about One and half a billion dollars. The company besides spread its tentacles into the universe of bet oning with their popularly known X-BOX which has remained a success boulder clay day of the month. ( http: //www.fundinguniverse.com/company-histories/Microsoft-Corporation-Company-History.html ) . DESCRIPTION AND ANALYSIS OF MICROSOFT PERFORMANCE OVERTIME Cardinal Dates: 1975: Microsoft is founded by Bill Gates and Paul Allen ; they sell BASIC, the first Personal computer computing machine linguistic communication plan to MITS Computer, Microsoft ‘s first client. 1981: Microsoft, Inc. is incorporated ; IBM uses Microsoft ‘s 16-bit operating system for its first personal computing machine. 1982: Microsoft, U.K. , Ltd. is incorporated. 1983: Paul Allen resigns as executive vice-president but remains on the board ; Jon Shirley is made president of Microsoft ( he subsequently becomes CEO ) ; Microsoft introduces the Microsoft Mouse and Word for MS-DOS 1.00. 1985: Microsoft and IBM forge a joint development understanding. 1986: Microsoft stock goes public at $ 21 per portion. 1987: The Company ‘s first CD-ROM application, Microsoft Bookshelf, is released. 1990: Jon Shirley retires as president and CEO ; Michael R. Hallman is promoted in Shirley ‘s topographic point ; the company becomes the first Personal computer package house to excel $ 1 billion of gross revenues in a individual twelvemonth. 1992: Bill Gates is awarded the National Medal of Technology for Technological Achievement. 1993: The Company introduces Windows NT. 1995: Bill Gates publishes his first book, The Road Ahead. 1996: The Company acquires Vermeer Technologies and its package application, FrontPage. 1997: The Justice Department alleges that Microsoft violated a 1994 consent edict refering licencing the Windows runing system to computing machine makers. 1998: The U.S. Department of Justice files two antimonopoly instances against Microsoft, avering the company had violated the Sherman Act. 2000: The Company acquires Visio Corporation, its largest acquisition to day of the month. 2001: Microsoft Windows XP is released internationally. 2003: Microsoft launches Windows Server 2003. 2007: Microsoft launches Windows view 2009: Microsoft launches windows 7 Beginning: hypertext transfer protocol: //www.fundinguniverse.com/company-histories/Microsoft-Corporation-Company-History.html Balance sheet for Microsoft Corporation as at 30th June 2010. ( Annually ) Assetss [ + ] in Millions of Dollars 06/2010 06/2009 06/2008 06/2007 06/2006 Cash and Equivalents 5,505 6,076 10,339 6,111 6,714 Restrictable Cash – – – – – Marketable Securities 31,283 25,371 13,323 17,300 27,447 Histories Receivable 13,014 11,192 13,589 11,338 9,316 Loans Receivable – – – – – Other Receivables – – – – – Receivabless 13,014 11,192 13,589 11,338 9,316 Inventories, Raw Materials 172 170 417 435 465 Inventories, Work in Progress 16 45 31 148 – Inventories, Purchased Components – – – – – Inventories, Finished Goods 552 502 537 544 1,013 Inventories, Other – – – – – Inventories, Adjustments A ; Allowances – – – – – Inventories 740 717 985 1,127 1,478 Prepaid Expenses – – – – – Current Deferred Income Taxes 2,184 2,213 2,017 1,899 1,940 Other Current Assetss 2,950 3,711 2,989 2,393 2,115 Entire Current Assets 55,676 49,280 43,242 40,168 49,010 Land and Improvements 526 526 518 428 362 Buildings and Improvement 8,187 7,824 6,030 4,247 3,146 Machinery, Furniture and Equipment 7,546 6,732 5,996 4,691 3,715 Construction in Advancement – – – – – Fixed Assets, Other – – – – – Fixed Assets, Entire 16,259 15,082 12,544 9,366 7,223 Gross Fixed Assetss 16,259 15,082 12,544 9,366 7,223 Accumulated Depreciation ( 8,629 ) ( 7,547 ) ( 6,302 ) ( 5,016 ) ( 4,179 ) Net Fixed Assetss 7,630 7,535 6,242 4,350 3,044 Intangibles 1,158 1,759 1,973 878 539 Cost in Excess 12,394 12,503 12,108 4,760 3,866 Non-Current Deferred Income Taxes – 279 949 1,389 2,611 Other Non-Current Assetss 9,255 6,532 8,279 11,626 10,527 Entire Non-Current Assetss 30,437 28,608 29,551 23,003 20,587 Entire Assetss 86,113 77,888 72,793 63,171 69,597 Liabilitiess [ + ] in Millions of Dollars 06/2010 06/2009 06/2008 06/2007 06/2006 Histories Collectible 4,207 5,008 4,034 3,247 2,909 Short Term Debt 1,000 2,000 – – – Notes Collectible – – – – – Accrued Expenses – – – – – Accrued Liabilitiess 3,283 3,156 2,934 2,325 1,938 Deferred Grosss 13,652 13,003 13,397 10,779 9,138 Current Deferred Income Taxes – – – – 1,557 Other Current Liabilitiess 4,005 3,867 9,521 7,403 6,900 Entire Current Liabilitiess 26,147 27,034 29,886 23,754 22,442 Long Term Debt 4,939 3,746 – – – Deferred Income Tax 229 – – – – Other Non-Current Liabilitiess 8,623 7,550 6,621 8,320 7,051 Minority Interest – – – – – Capital Lease Obligations – – – – – Preferred Securities of Subsidiary Trust – – – – – Preferred Equity Outside Shareholders ‘ Equity – – – – – Entire Non-Current Liabilitiess 13,791 11,296 6,621 8,320 7,051 Entire Liabilitiess 39,938 38,330 36,507 32,074 29,493 Preferred Shareholder ‘s Equity – – – – – Common Shareholder ‘s Equity 46,175 39,558 36,286 31,097 40,104 Common Par 62,856 62,382 62,849 – – Additional Paid in Capital – – – 60,557 59,005 Accumulative Translation Adjustments – – – 149 – Retained Net incomes ( 16,681 ) ( 22,824 ) ( 26,563 ) ( 31,114 ) ( 20,130 ) Treasury Stock – – – – – Other Equity Adjustments – – – 1,505 1,229 Entire Capitalization 51,114 43,304 36,286 31,097 40,104 Entire Equity 46,175 39,558 36,286 31,097 40,104 Entire Liabilities A ; Shareholder ‘s Equity 86,113 77,888 72,793 63,171 69 Closing monetary value = $ 25.51 Volume sold =25.16m Beginning: hypertext transfer protocol: //www.answers.com/main/dsdata? dsid=2940 A ; templateid=0 A ; cid=27590212 A ; qm_page=30703. [ Accessed, 4 April 2011 ] . The balance sheet above gives a brief sum-up of the plus and liabilities of Microsoft at a glimpse, it is evident that Microsoft has been able to keep plus at a greater proportion than liabilities overtime. The company has a good mix of debt and equity, for every $ 1 owned it is borrowing less than 90 cents. This shows that the company is non excessively leveraged and less hazardous while besides basking some degree of revenue enhancement shield from the purchase. Microsoft has a good opportunity of go oning into a traveling concern in the nearest foreseeable hereafter because its capital construction shows more of a residuary ownership. With more descriptive statistics, we can besides analyze the public presentation of Microsoft on a monthly footing from the twelvemonth 1988- 2009 utilizing returns ( unit % ) See excel for descriptive statistics. Microsoft return ( unit % ) Market return ( unit % ) Mean 0.021622876 Mean 0.857870722 Standard Error 0.00618845 Standard Error 0.269942879 Median 0.022084196 Median 1.41 Manner 0.064221396 Manner 1.78 Standard Deviation 0.100359793 Standard Deviation 4.377737838 Sample Variance 0.010072088 Sample Variance 19.16458858 Kurtosis 1.421423202 Kurtosis 1.709578314 Lopsidedness 0.366537791 Lopsidedness -0.812673531 Scope 0.751310392 Scope 29.51 Minimum -0.343529412 Minimum -18.46 Maximum 0.40778098 Maximum 11.05 Sum 5.686816298 Sum 225.62 Count 263 Count 263 From the descriptive statistics above, Microsoft has a positive lopsidedness unlike the market whose lopsidedness is negative, this indicates that Microsoft has a better flow or return than the market. It could besides be noted that Microsoft is ( 1 ) criterion divergence off from its average whereas the market is ( 4 ) criterion divergence off from its mean, this means that the returns of Microsoft had non been excessively volatile over the old ages and return on stocks are less hazardous. COMPARISON OF MOCROSOFT PERFORMANCE WITH S A ; P 500 ( MARKET ) USING T-TEST See t-test on Excel H0: Microsoft did non surpass the market H1: Microsoft outperformed the market t-Test: Paired Two Sample for Means A Variable 1 Variable 2 Mean 0.021622876 0.857870722 Discrepancy 0.010072088 19.16458858 Observations 263 263 Pearson Correlation 0.539530773 Hypothesized Average Difference 0 df 262 T Stat -3.136067434 P ( T lt ; =t ) one-tail 0.000953757 t Critical one-tail 1.650690284 P ( T lt ; =t ) two-tail 0.001907515 t Critical two-tail 1.969059657 A Decision: From the t-Test above, since the t-stats is greater in value than the t -critical ( irrespective of the -ve mark ) , we need to accept the alternate hypothesis ( H1 ) which says that Microsoft outperformed the market and reject the Null hypothesis ( H0 ) which says that Microsoft did non surpass the market. We can besides deduce this decision by looking at the P- value, here we can see that the p- value is less than the significance degree of.05, therefore we need to accept the alternate hypothesis ( H1 ) . Analysis OF MICROSOFT PERFORMANCE WITH CAPM Arrested development Statisticss Multiple R 0.258985259 R Square 0.067073365 Adjusted R Square 0.063498933 Standard Error 0.185690508 Observations 263 Analysis of variance A df United states secret service Multiple sclerosis F Significance F Arrested development 1 0.647027164 0.647027164 18.764764 2.11102E-05 Residual 261 8.999531777 0.034480965 Entire 262 9.646558942 A A A A Coefficients Standard Error T Stat P-value Lower 95 % Upper 95 % Lower 95.0 % Upper 95.0 % Intercept -0.32415329 0.011530623 -28.1123831 6.17385E-81 -0.346858177 -0.30145 -0.34686 -0.30145 X Variable 1 0.011371441 0.002625088 4.331831484 2.11102E-05 0.006202393 0.01654 0.006202 0.01654 CAPM: – Tocopherol ( R ) =RF+I? [ RM-RF ] By replacing the CAPM expression into the arrested development, we have Y= I ±+I?x+e Y = dependant variable I ± = intercept I? = co-efficient of independent variable vitamin E =error When x=0, I ± is an estimation of Y, so extra return of Microsoft would be given as: Excess return= -0.32415329+0.011371441+0.185690508 Adjusted R Square = 0.063498933 The adjusted R Square indicates that 6.3 % of the variableness in the extra return of Microsoft is explained by the market. I.e. for every per centum alteration of return in the market, Microsoft ‘s return alterations by 6.3 % . Decision Microsoft How to cite Balance Sheet For Microsoft Corporation Accounting Essay, Essay examples

Capability and Organizational Performance †MyAssignmenthelp.com

Question: Discuss about the Capability and Organizational Performance. Answer: Introduction This is a business strategy report of Ryanair; a company operating in European aviation industry. The objectives of the report includes exploring the internal, external environments affecting the Ryanair and recommending the strategic direction of the company in future. In the internal environment, factors such as competitive ability, strategic capabilities, resources and competitive advantages are explored. In the external environment, the macro environment and the industry five porter forces are analyzed. Lastly the reports offers the strategic direction of the company with the focus on business-level and corporate-level strategies based. The strategy proposed is based on the previous part of the paper namely the internal and external environment of the organization. The internal environment comprises the aspects and the factors inside that has direct effects on the operation and performance of the firm. An example includes current employees, competitive environment, corporate culture, unique resources, core competencies, technology, and others. This section explores the internal environment of Ryanair namely the organization resources, competencies, strategic capabilities and competitive advantage of the enterprise (Walder 2012). The company has many core competencies which are essential to sustaining a competitive edge over the rivals and enhancing its performance in the industry. For instance, the core competencies include the maintenance and disposal of the fleets. Ryanair's aircraft fleet comprises a physical asset which can be used in the understanding the firms policy and the management practices. Through the policy, the management is devoted to ensuring the cost of maintenance constantly remain low as possible. The strategy to realizing the objective is by reducing the average age of the fleet and maintaining it using cost efficient way (Rachet 2014). Besides, the companies also has policies that ensures constant checking the condition of the aircraft fleet on a routine basis. For instance, the aircraft return to its bases every evening to be examined and any problem detected are solved immediately. These actions implemented by the firm has myriads of benefits and helps in achieving competitive advanta ge over the industrys rivals (Dobbs 2014). Further, the core competencies of the organization have been embedded in its culture. The company provides ancillary services such as non-flight services, insurances, in-flight sales, commissions, accommodation services, car rentals, excess charges amongst others (Hinterhuber Liozu 2014). These are core competencies that form vital elements of Ryanair's culture. Nonetheless, when the management spots an opportunity to design and implement new kinds of service, actions and decisions are taken fast to satisfy the market. For example, provision of a range of ancillary services associated with the existing passenger service which is meant to enhance the capability of Ryanair. Therefore, the paper argue that the core competencies of the firm emanate from its ability to provide services in a standardized way and use of unique strategies to deliver them to their consumers and this is what differentiate them from other companies (Malighetti et al. 2010). Strategic Capability The strategic capability of Ryanair includes the use of the Internet to popularize its brand name. The company has the largest travel website in the continent as recognized by Google due to its ability to build and manage its brand on Google. Therefore the unique business capability is its ability to turn its web traffic to an e-commerce through advertising to gain more revenues. Moreover, its excellent brand image forms a unique asset that leads to Ryanair competitive advantages (Costantino et al. 2016). Besides the company has developed strategic ability to benchmark in the industry to a level where no company can match. For instance, the firm makes landing in many regional and other airports where there are lower landing fees. Further, they are capable of calculating the cost per passenger and creation of monopoly through budgeted airline industry. All these factors indicate its distinctive strategic capability achieved by the organization (Abdi et al. 2016; Walder 2012). According to Barney, Mackey and Borbly nature of unique and intangible resources that are inimitable is a basis for the competitive advantage. Ryanair source of unique resources is their talented managers who use an aggressive approach that is the basis of their competitive advantage (Barney Mackey 2016; Borbly 2016). The managers talents arm them with the capability to implement and design a model that enables low-cost services. Therefore it is hard for the rivals to imitate that unique resource and personalities which serve to the advantage of Ryanair (Button 2012). For instance, the managers utilizes their personalities and revolutionary business models to offer services such as commissions on all board sales and payments based on the number of flying hours which makes the firm compete successfully in the industry. Further, the managers also train pilots to gain knowledge on how to fly an aircraft with the use of a minimum fuel to respectively reduce the amount of fuel used and the cost of delivering consumers to their destination (Chen et al. 2014). As such, the unique resources of the organization is the personnel such as senior managers and lower staff. As seen, Ryanair has capitalized on the development of the human resources skills in a bid to improve their abilities and enhance the capability to provide services to diverse consumers. An example includes the pilot, managers and young talented workers who have skills that are required in the evolving environment (Burrell 2011). Michael Porter's theory explains to us that companies use three primary strategies to gain a competitive edge over others and these include focus, cost leadership, and differentiation. The company has chosen the second approach as it provides low-cost services to producer and consumers in Europe through selling standardized products on a mass scale and this is a source of its competitive advantage of the firm (Hinterhuber Liozu 2014; Dobbs 2014). Besides, low-cost services are not the only advantage because there are airlines that somewhat offer similar prices but the quality of the services makes them distinct and attractive to consumers. For instance, makes it easy to aggressively offer their products and services at significantly lower costs which lead to competitive advantage and make Ryanair realize success (Burrell 2011). On the other hand, competitive advantage is understood as the ability of the firm to have a better return on the capital invested over a particular or defined period. The advantage can be measured regarding the management capability, technology, location, market share and the strength of the brand (Burrell 2011). To this regard, Ryanair competitive advantage is due to they fly to many destinations that are less popular and not served by other companies in the industry. Therefore, it offers people living in this destination on the continent have a chance to access flight services at the nearest airport. Also, the company has talented management and support staff with necessary skills and use of technology to reach consumers and provide services are some of the issues that make it competitive when compared to others in the industry (Burrell 2011). Analysis of the External Environments This section explores two macro-environmental trends namely technological and environmental forces and evaluates how they affect the firms operations(Iiguez, et al., 2014). The term external environment comprises the factors outside the organization and have immense influences on its functioning. Companies need to act and reacts to the changes in the environment to avoid any effects on its operations. The macro environment is made of global forces that the business has no control of and the success of the company is dependent on how the management maneuvers and adapt to these factors. Each of the factors and the influences it has must be taken into account in the formulation of strategies by the organization (Rothaermel 2015). The technology used in the industry and by firms operating in the industry offers a lot of advantages because it improves the efficiency and enhance fuel utilization(Iiguez, et al., 2014). Ryanair is identified as a budget airline and therefore prefers to procure low-cost fuel jets. Although the jets are expensive, they utilize cheap fuels leading to considerable cost savings, and high profits are realized. Besides, technology has changed the way companies in the industry are offering services and this has resulted in the rise of m-commerce and e-commerce airline ticketing, online check-ins and internet sales. These developments in the sector are trending, and airlines have increased the efficiency of the operations as the customers are not required to queue as services are met at ease (Mayer et al. 2012). Changes in weather and climate have led to change of policies which aim at solving the issues in the environment. In Europe, there is a demand for airlines to reduce the level of carbon emissions significantly and Ryanair will be affected as it makes many flights per day (Burrell 2011). Therefore, it is one of the targeted airlines which needs to make significant improvements to reduce carbon emissions footprint. The implementation of environmentally conscious policies will make or break the companies because customers will prefer to use environmentally conscious airlines in the future (Mayer et al. 2012). Porters Five Forces Analysis Michael Porter in his book written in 1980 titled competitive strategy identified the five forces that shape the structure of industrys competition. According to Porter understanding and determine the five forces by a firm is paramount as it helps to spot products and services that can increase the revenue generated and the potential for profit in the sector. In cases where the forces are intense on end in industries like airlines, then it becomes extremely hard for the company to achieve higher profit returns on their investment made (Porter 2008). The five forces identified by Porter includes the threats of the entrance, the power of consumers and suppliers to bargain and the level of rivalry between companies, probability of substitute products and the threat of new entrants (Magretta 2013). The analysis focuses on Ryanair regarding European airline industry. To enter in the industry where the operators compete to provide low fares for their consumers combined with substantial cost leader such as Ryanair makes it hard for new entrants. For new entrants to successfully compete in such an industry which is strong, there must be intensive capital, excellent supply chain management to achieve high economies of scale. Therefore without these, it is very hard for new entrants to survive in such as a sector and this means the low threat of new entrants for Ryanair (Magretta 2013). The industry is characterized by high bargaining power of buyers. The consumers in the industry can quickly switch to rival airline brands because there are no extra expenses incurred. For instance, there are many airlines which customers can switch to like Aer Lingus, Virgin Express, and EasyJet. Each of the operators has their cost leadership strategy that makes it for consumers to switch companies quickly. Therefore for the Ryanair, the challenge that faces them in the sector is the existence of businesses that compete with it by providing low prices and similar services (Barney Mackey 2016). The Threat of Substitutes In the industry, there are there myriads threats of substitutes including the railroad transport, sea, road transport such as busses, rent-a-car firms that provide excellent and comparable services similar to those offered by the airline industry (Whyte Lohmann 2015). For example, the train services in the continent are the most notable and therefore significant threat to the airline's sector. Rail network is capable of replacing the services offered by the airline because they are not too costly as compared to airlines companies (Diaconu 2012). Further, the continent Europe has a well-established network connected by railroad example being Eurail that connects the west with central and southern regions and therefore one can use it to access various destinations in the continent. However, the barrier of the railway sector is the time taken to connect from one route to another while using a plane take the significantly shorter time to connect from one destination to another. As such; one can conclude that the threat of substitutes in the industry for the Ryanair airline is significantly low (DAlfonso et al. 2011). The bargaining power of the suppliers of products and services in the industries are very high (Witt 2013). In this case, there are two primary producers of major aircraft brand in Europe which includes the Boeing Company and Airbus. Therefore, the suppliers bargaining power is very high because of the high costs associated with switching of brands. This means to switch the suppliers there is extremely high capital required and training of pilots. For Ryanairs, the supplier of their products is Boeing although it possible for the airline to change suppliers due to positive cash flow. For example, back in 2014, the company tried to procure aircraft fleets from Airbus aircraft, but later the plans were canceled and requested from Boeing aircraft (Burmann Schade 2017). In the European airline industry, the intensity of the rivalry between different firms can be said to be medium but there is high threat of entry (Chen et al. 2014). The reason for this is due to rise in some companies trying to copy its cost leadership strategy with the focus of being an Airline leaders regarding budget. The development of the aviation sector in Europe is feasible because less than 30% of budget airlines market participate in the entire industry. As such, there is little chance of the firm becoming successful in broadening its strategy (de Wit Zuidberg 2012). An analysis of the five forces model reveals some implications in the Europe airline industry. The paper argues that there is a huge competition for services and prices by the companies operating in the firm and the power of suppliers to bargain forms one of the strongest forces in the sector. Therefore, the level of competition is very high between the enterprises and new companies planning to enter the market will find it hard to make a profit and therefore may be edged out due to lack of enough capital to sustain the industry practices. The forces wielded by suppliers are significant due to the intensive and high cost required to procure the aircraft and related maintenance, and any changes can lead to a severe loss on the part of the company. Besides, there are a couple of factors and forces which are present in the industry have a weak threat to the firms. Therefore, for businesses, it is time-consuming and expensive for a new company to penetrate the market with a lower risk of entry. The low costs of switching in the industry and the availability of substitutes in the market is an indication that buyers have weaker force. Recommended Strategic Direction Ryan Air is known for being a low budget airline, and the main focus is geared toward cost reduction. The section discusses it generic strategy and makes recommendations on how it can better its strategy. The analysis outlines three generic strategies used by the firm namely cost Leadership, differentiation, and focus. The section comments on whether the company should change or continue with its generic approach in the market and some of the strategies that should be applied based on the changes in the environment such as the use of technology. Cost Leadership strategy is when the organization manages it value-adding plans to make it the lowest cost airline in the industry (Moreno et al. 2015). The strategy is driven by the goal of the airline as the business seeks to compete with the rivals by proving the lowest costs. The company has become popular to European citizens who embraces air travel to move from one point to another. The company strategy was informed of the economic recession from the last decade, and other factors in the industry that forced the consumer to search for cheaper options when still maintaining the quality of the services provided. In such a case, the firm created demands for its tickets and thus high demands for it services (Moreno-Izquierdo et al. 2016). The focus is one of the generic strategies used by organizations and acts as a moderator of both cost leadership and differentiation strategies. The focus of Ryan air is to attract customers to low-cost airlines getting from point to point (Julie 2014). Thus, Ryanair is oriented toward accommodating clients and passengers by implementing low budget policy compared to that of competitors. Ryan Air provides no frills, and this makes it extremely low-cost and high-quality level of service for customers who needs to connect various destinations. Regarding this strategy, Ryan focus is to be the lowest-cost airline, but this has been the firm to be less differentiated (Mullane 2015). The paper argues that the company should continue to use the strategy in the industry to attain and maintain the lead against the rivals. The best strategy to implement cost leadership is through reduction of prices by understanding the market experience, modify supply chain, economies of scale, overhead control, and tight price and cost minimization in areas like provision of service and advertising (Walder 2012). The strategy has been used by other companies such as Wal-Mart and made it successful of all time. Therefore, Ryanair should not change the strategy, but some modification should be used to respond to the changing forces in the market. Charging a lower price for the services will lead to a larger volume in the future, and this means it will increase revenue and massive profits and further expand to upcoming market. Also, the strategy will also make it difficult for new firms to enter the market due to high capital investment and low-profit margins. Further, the company will develop many competencies and techniques that can be utilized to lower costs and gain a definite advantage. For example, pursuing the strategy will help the management come up with the overall companys culture which continually seeks greater efficiency and which in itself produces a competitive advantage. Therefore to meet the demand of the evolving environment, the firm needs to look into any wasteful practices where the cost of operations can be reduced further. It is also paramount to monitor the changes in the structure of the industry and the behaviors of other companies and adjusts it cost leadership strategy to ensure profitability and the survival of the organization. Corporate Level Strategies There are various level strategy which can be employed by the organization to create the value in the industry. Corporate level strategies used by the companies are concerned with the formulation and implementation of strategic decisions that has an affect the whole firm. These includes moves like mergers and acquisitions, financial performance, HR development and the allocation of resources among others. There is various corporate level strategy that Ryanair can employ to create additional value. This organization includes value creating, value-neutral, and value reducing. The firm can use value-creating strategy for the purpose of increasing the competitive ability and further gain more market share in Europe and other destinations. The company can use the strategy to add both perceived and real value of the firms services and products through exploiting the economies of scope. These includes the use of capabilities and resources of the business that can be shared by the entire company in a bid to increase efficiency and reduce the costs of operations. The idea of a value-creating strategy to be adopted by the firm should be oriented toward diversification of services, goods, and market to increase consumers and dominate the whole market. Further, the management should consider venturing into new routes in European countries. The focus can be directed to routes where the services are more expensive and served by the traditional carrier as this can help attract more passengers by offering cheaper and no-frills options. The strategy can also encompass increasing the frequency on the routes where it has an operation. Both plans are significant as they can help take a proportionate share of the customers from traditional carriers which can contribute to increasing the current market share. Ryanair is experienced in short haul routes between cities. However, with the changing environment, the firm can extend the services to haul routes, and this move can be best achieved through using of connecting flight. As the level of competition increases between rival companies, Ryanair needs to Improve and enhance the level of customer loyalty and satisfaction to prevent their consumers from switching to other businesses. For instance, when consumers are not satisfied with the level of services provides, they could switch to other carriers such as easyJet, Norwegian, Vueling and Wizz Air even when their services are a little expensive compared to Ryanair. Besides, because the market is very volatile, it is paramount to improve on its oil hedging and currency trading through improving its policy to embrace the use of US dollars to purchase fuel. Ryanair website is well rated by Google due to its high traffic by consumers, and the platform can be utilized to market its ancillary products better and to explore the possibilities of generating advertising revenue for its website. The firm can also introduce their credit card to add to its portfolio of the products and services. Such can be the way to ensuring the entire bookings is done through the internet and therefore help eliminate a call center that is very costly. Lastly, to improve its scope, the best strategy is to merge with firms operating in other industries such as Hospitality and Tourism to make the services and products comprehensive. Conclusion In conclusion Ryanair is a low cost airline operating in the European air industry. The company competitive advantages, unique resources, strategic capabilities is due to the personnel of employees, provision of low cost tickets and maintenance of their fleets. The industry in which the company operates is characterized by low threat of new entrants, high bargain of suppliers and intense rivalry. In future, the company needs to maintain the strategy but modify it based on the changing forces in the environment and adopt strategies such as expanding in routes where the operators are expensive and use of its website to offer all its services to consumers. Bibliography Abdi, M Elliot, L Edalat, F 2016, 'Strategic Business Plan Based on Total Quality Management for Property-Marketing Small Enterprises in UK', In Handbook of Research on Entrepreneurship in the Contemporary Knowledge-Based Global Economy. s.l.:IGI Global. Barney, J Mackey, A 2016, 'Text and metatext in the resource?based view', Human Resource Management Journal, 26(4), pp, 369-378. 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