Philosophy †Conscience (90/90) Essay

Discuss critically the view that we should always follow our conscience when making ethical decisions It has traditionally been proposed that the conscience is an established body of authority, essentially justifying the view that it should be ‘followed’. Many notable figures throughout history – Aquinas, Butler, Plato, Freud – have structurally placed it in a potent rà ¯Ã‚ ¿Ã‚ ½le. Whether this is by means of tripartite analogies, hierarchical standing or even religious eminence, the conscience serves a theoretical, and indeed practical, function as the human and societal arbiter. But then, there is also a possible disparity between the states of individual and collective conscience, contributing to the difficulties in determining which conscience is more suited to enacting ‘ethical decisions’. This predicates an interesting dichotomy: the conscience either does not maintain this degree of control or, conversely, the conscience’s increased social standing grants it an even greater level of authority. It can similarly be questioned whet her or not the conscience’s proposed supremacy necessitates an individual’s reliance on it, or even, whether it is needed at all. Ideas in connection with the conscience are far-reaching. The notion of ‘ethical decisions’ being governed by the conscience implies that there is a principal rà ¯Ã‚ ¿Ã‚ ½le the conscience must play in enacting them. But, as addressed above, there are solid questions over its reliability: its seemingly potent position and even its existence. My argument follows an objective line, paying close attention to that factor in which man is of sole importance. The human being is the entity the conscience must work alongside, and vice versa. There is a clear discrepancy between common definitions of ‘consciousness’, in turn emphasising the inconsistency of thought on the matter. The Collins Dictionary, for example, defines ‘consciousness’ as being â€Å"aware of one’s surroundings†1; in contrast with the Concise Oxford Dictionary which classifies it as being â€Å"aware of and responding to one’s surroundings†2. Herein, at the outset, lies an issue. ‘Surroundings’ and conditions are clearly noted by both definitions, yet the human acknowledgement and ‘response’ to them are not so. This irregularity is highly relevant when trying to determine the conscience’s rà ¯Ã‚ ¿Ã‚ ½le in the individual’s ‘decision’-making. The mind’s influence on the individual, the individual’s place in society, and, indeed, individuals themselves, are key to this matter. ***************** â€Å"May God himself, the God of peace, sanctify you through and through. May your whole spirit, soul and body be kept blameless at the coming of our Lord Jesus Christ† 3 Presented above is the Biblical proposition most considered to be supportive of the tripartite theory of the Godhead. Theologically, ‘three’ has been a consistent Biblical presence, â€Å"It should be noted at the outset that the Biblical authors’ use of the number three is abundantly attested†4 – The Holy Trinity, Noah’s three sons and Job’s three daughters being notable cases of this. Accordingly, the human being consists of ‘three’ separate elements; either ‘body’, ‘soul’ and ‘spirit’, as is noted above, or, most applicable to the question of conscience: i) appetites ii) affections, and iii) reason – the latter having familiar associations with the conscience. But where does this come into the idea of ‘following’ one’s conscience? Simply put, it is the idea that the conscience is dominant in its essence; that theologians, philosophers and psychologists throughout times past have placed it above appetites and affections. Noted examples of this are Aquinas’ ‘Hierarchy of Being’, Plato’s ‘Allegory of the Chariot’, Freud’s idea of the id, ego and superego, and others; all leading to one literally presented conclusion – conscience is ‘boss’, and ergo, should be ‘followed’. Thomistic philosophy places the conscience in a divine rank; alongside the Bible, the Church and Mankind as a whole. It is divine and institutional law; guided through human mechanisms by the Synderesis Rule: â€Å"the innate principle in the moral consciousness of every person which directs the agent to good and restrains him from evil†5. This can be seen to relate directly to the idea of a benevolent conscience making ‘ethical decisions’ – ‘good’ being the ultimate goal. Butler takes a similar position – â€Å"man is born to virtue†6 – ‘self love’ and ‘benevolence’ being the individual’s guide. But, one might ask whether the apparent requirement to do ‘good’ is really an objective balance. Can one really make an ‘ethical decision’ without knowing the evil? 7 Aquinas asserted five primary precepts which the conscience formulates in an ‘ethical’ judgement – self preservation and preservation of the innocent, continuation of the species, education of children, living in a society and worshipping God. Despite the need for these to be followed, and, of course, definitive of how we make ‘ethical decisions’, it is the fifth that one finds enticing for this particular study. ‘Worshipping God’, the church – a state of authority – or, indeed, perceived authority, guiding our actions. It conforms to the hierarchy of being (an apt link with the tripartite theory) and is a premise for God’s ‘benign tyranny’. God is the pure form of Reason, and is so at the top of the hierarchy, subordinated by mankind – affections – and animals – pure appetite. By this we can see that this hierarchical method is multi-levelled – the human being comprises these attributes just as a collective hierarchy does. They are simply metaphors for the conscience’s divine authority on a bodily and societal level. This is further supported by Plato’s ‘Allegory of the Chariot’; the charioteer representing Intellect/Reason/Conscience, the white horse signifying the aforementioned morals and affections, and the black horse symbolising appetites. One might be too facetious in making this interpretation but the use of a horse somewhat indicates that human beings are majorly of beastly appetites, other than reason – are we God’s ‘beasts’ as it were? Plato himself judged that: â€Å"man†¦is a tame or civilized animal; nevertheless, he requires proper instruction and a fortunate nature, and then of all animals he becomes the most divine and most civilized; but if he be insufficiently or ill-educated he is the most savage of earthly creatures.†8 Yet, he conversely gives the analogous horse human traits: â€Å"he is a lover of honour and modesty and temperance, and the follower of true glory; he needs no touch of the whip, but is guided by word and admonition only.†9 Even more interesting is Plato’s use of a human being in God’s rà ¯Ã‚ ¿Ã‚ ½le. This gives two ideas; God is either being anthropomorphised (putting him in inferior standing) or, alternatively, human conscience is God-ly10 – maybe God is our conscience. Maybe He is mankind. Newman supports the former idea; â€Å"an echo implies a voice; a voice, a speaker. That speaker I love and revere†11, by the literal hearing of voices. The ‘speaker’ is the indwelling voice – the conscience – and the reverberation of God’s direct message. Here, on the surface, we can clearly see, due to the divine cloud hanging over this matter (‘God is good’), that the conscience should be ‘followed’ when making ‘ethical decisions’. Yet, one might ask the fundamental question of whether the conscience is worthy of its place above appetites and affections. The empiricist, David Hume, makes his opinion on the matter quite clear: â€Å"reason is, and ought only to be the slave of the passions, and can never pretend to any other office than to serve and obey them†12. He provides a clear argument against ‘always’ ‘following’ our conscience when making ‘ethical decisions’, in favour of our appetites. One might take the view that our primitive nature, without the influence of our conscience and an interventionist (or determinant) society is more equipped to make ‘ethical decisions’. Indeed, the Reformation encouraged the break-away from the Church of Rome and set the individual conscience, not ecclesiastical authority, at the centre of religious life. As will be addressed in further detail later, if our conscience is distorted by society the individual may not be in full control of his own ‘ethical decisions’. One could conversely argue, however, that, as Plato seemingly hinted at above, Hume degrades humanity to the level of animals; that we have no power to reason and therefore cannot achieve ‘God-liness’ or make ‘ethical decisions’ at all. Plato supplemented the ideas purveyed by his ‘Allegory of the Chariot’ through another work The Republic, which, for this essay, provides the basis for examination of the relationship between individual and societal conscience. As with Aquinas, it is a question of hierarchy. The workers – appetite followers – and the soldiers – protectors of the state and morals – are both subservient to the philosopher-kings – the embodiment of reason. Plato’s view was that of an elitist society with the core conscience in charge; â€Å"knowledge is power†13 (â€Å"Conscience is king†14) or, as I might conversely argue, ‘power is knowledge’ (‘King is conscience’). One can draw parallels with Orwell’s dystopian novel Nineteen Eighty-Four, which, for me, offers an even more appropriate portrayal of this idea: the lowly ‘proles’ comprising the vast majority of society – governed by appetites – the Outer Party – controlled by state values and propaganda, morals, affections – and the Inner Party and Big Brother, the core of the state; the quintessence of the conscience, â€Å"it is impossible to see reality except by looking through the eyes of the Party†15. These two examples demonstrate the conscience of the individual being mirrored in society. It raises issues as to whether the conscience of the collective should be ‘followed’ when making ‘ethical decisions’ as opposed to that of the limited individual; â€Å"only in the mind of the party, which is collective and immortal†16 – drawing distinctly Marxist parallels, and, perhaps more relevantly, conforming to the Thomistic precept of ‘living in a society’. One can link this to the thoughts of Soloveychik; that â€Å"conscience can’t be someone’s own. Conscience is both personal and universal†17. The pluralism, ‘we’, established in the initial proposition is markedly addressed with these connections to societal conscience. One extremity that may arise from this elitist, authoritarian ideal, however, is the issue of mind-control (â€Å"Big Brother Is Watching You†). A conscientious hierarchical society controlling the psyche of the masses may fulfil the rà ¯Ã‚ ¿Ã‚ ½le of the individual in a more oblique, inflated manner. Appetites, affection and reason being governed by class structure; bringing about a socially solidified conscience. One might apply this to F.H. Bradley’s personification: â€Å"our function [is] as an organ† in a â€Å"social organism†. Thus, if conscience is uniform among individuals, why might ‘ethical decisions’ not be carried out similarly? Baruch Spinoza believed that God’s knowledge is distilled through humanity: â€Å"an idea is adequate and perfect insofar as it represents knowledge of the eternal and infinite essence of God†18. Giving further substance to the idea of an individual’s morals (their ‘ethical’ make-up) being reflected on a collective level. Hume, however, argues against this, â€Å"nothing is more surprising than the easiness with which the many are governed by the few†19, pondering the dominance of a reasoned minority – the collective’s core conscience – in turn eradicating the starting point for this theory. An answer to the issue in the proposition, however, is still not possible at this point. One cannot yet determine whether the conscience should be ‘followed’ when making ‘ethical decisions’ because of the sheer amount of subjectivity over the ethics of elitism. Still, the plausibility of a societal conscience maintaining this degree of authority is questionable. Despite the seemingly loose connections mentioned above, the conscience of the collective is undoubtedly dissimilar to that of the individual. The juxtaposed issues of freedom and conflicting individual mentality are enough in themselves to maintain this viewpoint. Obviously, this makes us question whether making references to literal states of authority is actually worthwhile. The individual has a conscience which both conflicts and complements the state/collective consciousness. Linking to the above issue, are governments/collectives always an objective balance? Seemingly, there are corrupt governments; history has shown there to be corruption in the Church and other elements of society that control the individual’s mindset. Yet it is indubitably the case that the mind (and conscience) is always influenced by the society in which it operates. This presents a mind-blowing paradox. Society is not only determined by a central conscience but the conscience of the individual is conversely determined by society. This might then suggest that whatever the case, the sole function that drives societal conditions, indirectly assumes its authority over the individual. J.B Watson – the ‘Father of Behaviourism’ – proposed: â€Å"give me a dozen healthy infants, well-formed, and my own specified world to bring them up in and I’ll guarantee to take any one at random and train him to become any type of specialist I might select† 20 He places himself – a core being with societal influence – in an authoritative position over specified individuals. This can be compared with the Freudian idea that the superego develops throughout childhood by external influences. The human being is born with the id; the basis for appetites, eros (sex) and thanatos (death) drives – these drives could interestingly be seen in a belligerently potent rà ¯Ã‚ ¿Ã‚ ½le, supporting the idea of appetital authority à ¯Ã‚ ¿Ã‚ ½ la Hume. Subsequently, the ego develops; the presentable faà ¯Ã‚ ¿Ã‚ ½ade that we apply to the world; our affections. Then the superego, our reason and conscience; the irrefutable censor of the human mind. It develops throughout childhood. In tandem with the environmental development, or determinism, mentioned above, â€Å"children are completely egoistic; they feel their needs intensely and strive ruthlessly to satisfy them†21. So by this then, we can see that the tripartite, ‘three’; is a consistent literal basis for the presentation of the conscience. I would, however, question whether this is a valuable method by which to present its authority. There are obvious differences between the theories presented by each of these figures; Freud – socio-psychological; Aquinas – religious; Plato – the soul. These differences mean something. For one, each has specific rà ¯Ã‚ ¿Ã‚ ½les. Some may apply strictly to societal conscience (Plato’s Republic and Orwell’s Nineteen Eighty-Four), others may apply merely to the individual (Freud and Plato’s ‘Allegory of the Chariot’). It is nonetheless interesting that the tripartite is consistent throughout different periods and cultures. Ultimately, it comes to the point where one must consult Freud’s verdict to prove what these give us, â€Å"analogies, it is true, decide nothing, but they can make on e feel more at home†22. How else, then, can the conscience be interpreted authoritatively and conclusive of how we make ‘ethical decisions’? Put simply, the conscience is an alarm: it is disturbing; it forces the individual to put themselves in uncomfortable situations and concurrently feel the effects of these. Although there are religious sides to this, for example, the threat, â€Å"he who acts against his conscience loses his soul†23, the principal factor here is indeed guilt. Of course, guilt is the one thing that the layman will consider alongside the conscience. Conscience is guilt to many. The objective conscience works by putting the individual at a discomfort, Freud believing that guilt is the consequence of not obeying it. Dostoyevsky provides a fine example of this in his notorious work Crime and Punishment, where the protagonist, Rodion Raskolnikov, experiences continual mental anguish following his homicidal actions. The novel gives the idea of mental demons – â€Å"If he has a conscience he will suffer for his mistake. That will be punishment as well as the prison.†24 Rodion’s shame ultimately forces him to confess. He ‘follows’ his guilty conscience to make an ‘ethical decision’. This issue is also given great attention in Shakespeare’s tragedy, Hamlet, in which the king, Claudius, comes to realise, in retrospect, the implications of his fratricide; â€Å"my stronger guilt defeats my strong intent†25. He is, however, prone to continuing his murderous tendencies. Although this is a literary construction, one might suggest that Claudius reverts to his thanatos drive, the superego not taking precedence. Another interpretation is that he adheres to the belief that you â€Å"perform a sin twice and it will cease to be a crime†26, providing a distinctly self-centred stance. Above all, however, this notion of guilt leads us to question whether the conscience’s precedence actually does entail our reliance on it. If the conscience can be seen to be malicious one might assume it is not all good or a worthy mechanism by which to make ‘ethical decisions’. Should we ‘always’ ‘follow’ our conscience if it occasionally encourages us to impart malevolence towards others? Yet, admittedly, I have placed the conscience, somewhat clumsily, in a potent rà ¯Ã‚ ¿Ã‚ ½le by inappropriately treating it as an inanimate transcendent ‘object’. ‘The conscience’ is a misleading phrase – it can not be addressed in literal terms as the above-mentioned figures and I have done so. It is an ambiguous concept; a culmination of ideas, not a figurehead or core being that people must obey. In doing this I have partially neglected the fundamental points initially outlined; those of human response to the conscience, as well as the issue of ‘ethical decisions’. The point is that the human being is its conscience – they work in tandem – yet the individual conscience is contingent on the social conscience and vice versa. It is an eternal cog of human reasoning, working jointly to maintain relations and prevent wrongdoing. There is a deterministic problem associated with this question: if the conscience is a necessary mechanism then seemingly we cannot escape it – ‘always’ following our conscience places it in a more authoritative rà ¯Ã‚ ¿Ã‚ ½le than a judicial one. Aquinas, for one, believed that ‘following’ our conscience is ‘always’ right despite it not necessarily entailing good – is this really the kind of mindset we want when making ‘ethical decisions’? If one is to take Hume’s view of appetital dominance, the human essence being the guidance of our nature, we can, to an extent, countermand this. One might argue that the conscience is just a constraint on our essential urges. A constraint on the collective’s blossoming; Sartre asserting that â€Å"we must act out passion before we can feel it†27. Even today in such a complex, interlaced world there is a question over whether our primitive essence would beget greater happiness. Not at all am I suggesting that humans should revert to being primal, nor that happiness should be the human race’s ultimate goal, but, in terms of making ‘ethical decisions’, must one rely on the conscience? Indeed, there is a danger that reliance on appetites would encourage societal and individual regression. Hence, a viable alternative must be suggested. For me, this comes in the form of Social Darwinism (‘survival of the fittest’); that mankind evolves by means of competition, â€Å"the very essence of instinct is that it’s followed independently of reason†28. Darwin appeared to prioritise appetites; using them as a means for societal progression. One might assert that this ideal comes closest to loosening the fetters of both individual conscience and societal restraint, whilst not jeopardising our future. In answering the question, the various examples presented in this essay – of the conscience being dominant in its essence – suggest to me that in any case the conscience deters our ‘decision’-making. Indeed, if we feel by any means constrained we are unable to make pure, objective ‘ethical decisions’, ergo, we should not be subservient to the conscience when making them. 1 Collins Dictionary & Thesaurus: Two books in one, 2004 2 Concise Oxford Dictionary: Tenth Edition, 1999 3 1 Thessalonians 5:23 4 Richard D. Patterson, The Third Day Motif, The Use Of Three In The Bible 5 The Internet Encyclopaedia of Philosophy 6 Joseph Butler. Class notes. 7 This is addressed further with the issue of guilt later on. 8 Plato, The Republic 9 Plato, Phaedrus 10 This is intended to mean the essence of God, rather than merely ‘god-like’ attributes. 11 Pope’s Letter On Newman 12 David Hume 13 Sir Francis Bacon 14 Joseph Butler 15 Nineteen Eighty-Four, Part 2, Chapter 2 16 Nineteen Eighty-Four, Part 2, Chapter 2 17 Simon Soloveychik, Free Man 18 Spinoza’s Ethics 19 David Hume 20 John B. Watson 21 Sigmund Freud 22 Sigmund Freud 23 Fourth Lateran Council 24 Fyodor Dostoyevsky, Crime and Punishment, Chapter 19 25 Hamlet, Act 3 Scene 3, l. 40 26 Jewish commentary 27 Jean-Paul Sartre 28 Charles Darwin

Ellyday by Helen Oyeyemi

Ellyday is about two siblings, Sophie and Elly. The story takes place in Elly’s bedroom one cold Sunday morning, four days before Christmas. Sophie walked into Elly’s bedroom, because she was worried about her sister Elly, who is really skinny and she wanted to talk with her. While Sophie tried to figure out, how to ask Elly to pull her jumper up, Elly wanted to listen to a CD. Elly wouldn’t pull her jumper up and said to Sophie that she was only going to get angry.Then they discussed Elly’s weight and appearance and Elly said that she thought Sophie’s problem is in fact, that Elly is now as skinny as Sophie. After that Elly started to cry hideous and sank to the floor. Sophie told Elly that she can’t see properly how she can think it’s worth it, but Elly just answered that Sophie didn’t really care and that she saw it happening. Sophie also told Elly that she was actually sick and needed help and that it would be wise to talk t o someone. At this moment Elly listened to her sister and asked her when it’s okay to die.Sophie got shocked and realized that she didn’t know this person anymore. Elly elaborate on her question about if it was okay to die before you’ve ever kissed a boy, or ever been loved, or anything like that. While Sophie was going to explain that it was not okay to die, she just stopped speaking and stared brimming overwhelmed, because Elly had pulled up her jumper. Sophie and Elly are teenagers and I think that Sophie is the oldest of them. Elly has an eating disorder and is very skinny and looks like a scarecrow. She has fluffy brown hair and leaking, dead brown eyes.She’s mostly a silent girl, but when Sophie talks directly about Elly’s thinness, she goes into self-defense. Elly had no control over her words and stumble hesitates over every word that came out from her mouth. It’s painful for Elly to speak clearly and rounded, without a slur. She had pale skin tone and shaking hands due to her thinness. She wears baggy clothes and stuff like that so people can’t see how thin she is. Elly was fat before and has a serious psychological problem. She doesn’t feel well inside and asks questions like how it’s okay to die and when it will be a shame.It seems like that Elly feels she’s failed her sister, because she said to Sophie that she had seen what was happening with Elly and that she didn’t care. Elly struggled to stand up, talk and things like that. She’s very weak but unshakable, and wouldn’t pull her jumper up for her sister. But in the end of the story Sophie gets a surprise. Sophie is the big sister, and she feels a responsibility over Elly. She’s very worried about Elly but also very straightforward in the language. She forced herself to sound irritable over Elly, as she had so many times before when they were younger.She threatened to stop speaking to Elly if she didn ’t do what Sophie said. Sophie behaves like a bossy kind, like who always told Elly what to do, to protect her little sister. I don’t like the end of the story; because we don’t know what happened after Elly pulled her jumper up. We don’t know h ow Sophie reacted and why Elly had talked about when it was okay to die. I would do everything in my power to prevent anything from happening to my friends. Weather it was drugs, drinking, eating disorders or over eating. I wouldn’t leave them. What are friends for? Friendship for me isn’t just about having fun.It’s about taking the good and bad with each other. If I were a teenager I would probably get advice from some older wiser person who is more experienced in life. From there I would hope the best for them and let them know they have my support if they need me, because sometimes it’s not about to tell them what to do and such it’s more about support. Of course you have to t ell them that what they’re doing isn’t good and helping, but not being bossy. Keep in mind they didn’t always do this to themselves by no reason, so figure out the reason and then help them through it.

Nissan Report Essay

Company Overview Established in Yokohama, Kanagawa in 1933, Nissan Motors Co. Ltd currently manufactures vehicles in 20 countries and areas around the world, including Japan. Global unit sales in fiscal 2009 totalled 3.515 million vehicles. In addition to vehicles, Nissan also develops, manufactures and markets marine equipment. Nissan has a portfolio of two brands, NISSAN and INFINITI, worldwide. NISSAN vehicles are marketed in all major market worldwide. INFINITI was launched as a luxury car brand in North America in 1989. The INFINITI brand has since expanded to Middle East, Korea and Europe, and will continue to enter into new markets globally. Nissan builds high-quality cars that are safe and have the bold design and innovative technology to satisfy our customers’ needs. Vision Nissan: Enriching People’s Lives Mission statement Nissan provides unique and innovative automotive products and services that deliver superior measurable values to all stakeholders* in alliance with Renault. Long term goal Nissan wants to continue its quest to optimize product development and deliver highly innovative technology. Today, in various countries and regions around the world, they enjoy a stellar reputation for creating truly innovative vehicles and service programs. Short term goal The world is changing, and Nissan is adapting with it. Their short term goals are to harness the power that’s inside Nissan to prepare solutions that their customers will want and value, now and in the years to come. Solutions such as: electric and fuel cell vehicles that are attractive, fun-to-drive cars with the appealing benefit of zero emissions; global entry cars that make mobility more accessible and affordable for all; and Innovative technological advances that are good for the environment, enhance safety, improve dynamic performance or provide greater life-on-board satisfaction. Organisational structure Nissan places high value on transparency, both internally and externally, in its corporate management. They focus consistently on the implementation of efficient management for the purpose of achieving clear and quantifiable commitments. In line with this principle, and in accordance with Japan’s Company Law and its related regulations, the Board of Directors has decided on the Internal Control Systems to pursue these goals and on its own basic policy. The board continually monitors the implementation status of these systems and the policy, making adjustments and improvements as necessary. One board member has also been assigned to oversee the Internal Control Systems as a whole. Nissan has adopted a system under which the Board of Statutory Auditors oversees the Board of Directors. The Statutory Auditors attend board and other key meetings, and also carry out interviews with board members to audit their activities. The Statutory Auditors regularly receive reports on the results of inspections and plans for future audits from independent accounting auditors, as well as exchange information to confirm these reports. The Statutory Auditors also receive regular reports from the Japan Internal Audit Office, making use of this information for their own audits. The organisational structure could also be explained with the help of the following diagram Here the Board of Directors overlooks the working of the CEO and President who is Carlos Ghosn. The CEO overlooks the working of the branch managers in various locations. Each branch manager handles a groups o VP marketing, VP production, VP finance, VP Public Relations, and VP Human Resource. Organisational Behaviour Nissan is deploying various activities under the banner of Blue Citizenship, which encapsulates their desire to preserve the blue Earth and to be a corporate citizen in harmonious coexistence with people and society. Those activities range from such global issues as the environment to contributing to communities, promoting diversity and making personal mobility available to as many people as possible. SUSTAINABILITY Nissan Green Program The history of Nissan taking environmental measures goes as far back as 1947. Since 1992, abiding to our environmental philosophy â€Å"Symbiosis of People, Vehicle, and Nature†, we have as an enterprise, been accelerating the activities pertaining to the said philosophy. At present we are promoting our mid-term environmental plan â€Å"Nissan Green Program 2010†, identifying the 3 crucial issues, and setting the ultimate goals of â€Å"reducing CO2 emissions†, â€Å"cleaner (conservation of the atmosphere/water/earth) emissions†, and â€Å"resource circulation (the promoting of the 3 Rs: reduce, reuse, recycle)†. We are furthering our measures to achieve these goals. The 4 optimums, Nissan’s Powertrain Road Map In order to steadily reduce CO2 emissions, Nissan sees the total contribution of providing truthfully effective technology at an affordable price to its clients, while at the same time swiftly propagating these technologies, as crucial. That said, we believe the â€Å"4 optimums† – â€Å"Investment in the optimum technology that fits the market needs, at the opportune moment, at the best value for the clients†, as the basis of technology investment. Based on these 4 optimums, we will not only ultimately heighten the engine efficiency of petrol motor vehicles, but also proceed with the development and  investment of electrical vehicles which are zero-emission vehicles. Measures for a zero-emission vehicle For vehicle manufacturers, the best long-term policy that both creates demand and protects the environment, is to created a zero-emission vehicle that has no negative effects toward the environment. The Renault-Nissan Alliance sees the propagation and investment in electrical vehicles, which are zero-emission vehicles, as central to the corporate strategy, and committed to become a â€Å"leader through electrical vehicles†. The electrical vehicles that are being developed in Nissan will be introduced in the United States, Europe as well as in Japan in FY2010. By FY2012, there are plans to globally merchandise them. Lithium-ion Batteries Nissan had, at an early stage, taken interest in the development of motors, batteries, and inverters which are key technologies for electrical vehicles. Aiming to achieve the goals set forth in the â€Å"Nissan Green Program 2010†, we are striving to strengthen the developmental measures we have been taking up to this point. Additionally, we are working to develop technology for further practicability, and taking efforts in reducing their costs. In 2007, we established the Automotive Energy Supply Corporation (AESC) that deals with the production and sales of â€Å"compact lithium-ion batteries†. The batteries that are to be developed will be used within electrical vehicles, as well as hybrid vehicles and fuel cell vehicles. Quality At Nissan, we believe that the quality of our products allows us to build a relationship of mutual trust with our customers and is the foundation for continual growth. Product quality is far more than just the performance of Nissan vehicles. It means everything related to our car that brings satisfaction to our customers, from the moment of seeing and touching a Nissan car in the showroom to the support given by the sales staff and the post-purchase driving experience. Nissan quality also extends to after-sales inspections and repairs. We will continue to evaluate and improve all areas of our operations in order to provide the products and services that will constantly give satisfaction to our customers. Safety Shield Nissan aims to halve the number of fatal and serious injuries from accidents involving Nissan vehicles in Japan by 2015 compared with 1995. Based on analysis of real-world accidents, Nissan has been working progressively to design and engineer safer vehicles. Safety shield is an approach to provide continuous support against dangerous situations, by activating various barriers according to the circumstances, from normal driving to post-accident. We are advancing development based on even more sophisticated and proactive safety policy. PARTNERSHIP Yokohama mobility â€Å"Project ZERO† In March 2009, the Renault-Nissan Alliance and Yokohama City saw an agreement over the 5-year -plan, the `Yokohama Mobility â€Å"Project Zero†Ã¢â‚¬Ëœ, which aims to realize the â€Å"environment model city† that is promoted by Yokohama City. In order to reduce CO2 emissions, this partnership will see cooperation in disseminating eco-drive, in addition to testing guidance routes that will contribute to reducing traffic, as well as propagating electrical cars. Additionally, Nissan is in works with Tokyo University in developing a joint industry-university research concerning vehicle transport that aims for the symbiosis of urban space and nature. In terms of the evaluation and the release of information concerning this time’s planned items, we are, in cooperation with Tokyo University, also furthering them. Yokohama City is planned to be one of the first markets where Nissan’s electrical vehicles will be supplied, similarly to the various regions throughout the world that have similar partnership agreements with the Renault-Nissan Alliance. Partnership regarding zero-emission mobility From January 2008, aiming for the realistic propagation of electrical vehicles, the Renault-Nissan Alliance concluded on the 40 cases (as of December 2009) of â€Å"Partnership regarding zero-emission mobility† along with governmental sectors, municipal sectors and other sectors. With this, we are working to prepare the social infrastructure such as by installing chargers, as well as taking into consideration benefit measures in times of purchasing the zero-emission vehicles. Through the cooperation with our partners throughout the world, we are contributing to a vehicle society that is both  people-friendly and considerate of the environment. Sky Project In Sky Project, which has been implemented since October 2006 in partnership with non-automobile industries and in cooperation with government agencies, Nissan, with the participation of customers, has been working to reduce the number of traffic accidents and alleviate traffic congestion by using intelligent transportation system (ITS). While providing information to cut the number of encounter head accidents and reduce driving speed in school zones and other areas, we investigate the potentiality for the alleviation of traffic congestion, realized through daily use of ITS, to improve effectiveness of energy use and reduce CO2 emissions. In Beijing, China, we have been implementing Star Wings, a project to develop new transportation information system, in cooperation with Beijing Traffic Information Center (BTIC), in order to alleviate traffic congestion and improve traffic conditions in Beijing and China. Wind power Beginning in 2007, Nissan became an active â€Å"Y-green partner† when it harnessed wind-power for use in its facilities in Japan. The company, through its Yokohma plant facility and the new Global Headquarters, seeks to utilize â€Å"green energy in its facilities and implement local green energy for local consumption. Since November 2005, Nissan Motor Manufacturing Ltd. (UK) has been using a wind-power facility at its Sunderland plant. Addressing the key issues of Nissan Green Program 2010, the company is reducing C02 emissions by utilizing wind derived power in its facilities worldwide. ACCESSIBILITY BUI-2 (Best usability interior-2) BUI-2 (Best Usability Interior-2) is a concept car, whose interior has been created with a focus to â€Å"design the way people feel† so that all the elements can smoothly appeal to people as they engage in cars. For Nissan, three types of design – interface design, colour and material design, and sensitivity quality design – are broadly defined as interaction design. Through various research activities, we are making efforts to realize even more convenient and attractive interior designs. Lifecare vehicles (LVs) Nissan lifecare vehicles (LVs) help bring mobility to the elderly or those with physical disabilities. We regard LVs as an essential part of our line-up of cars rather than specialty vehicles, and we are enhancing the products and services available to them. As of the end of January 2009, in Japan there were 401 certified dealerships with LVs on display and advisory staff with expert knowledge of the vehicles, and a total of 5,520 LV advisors. There are dealerships in every prefecture of the country meeting the needs of customers and offering the chance to test-drive these vehicles. Since 2003, we have also been carrying out an annual campaign of LV trial rides for people who have only limited opportunities to get out and about, so that they too can experience the joy of mobility. COMMUNITY Corporate citizenship activities distinctive of Nissan Nissan endeavours to fulfil its role as a corporate citizen toward the realization of a sustainable society, while providing attractive products and services globally, under the vision of â€Å"enriching people’s lives.† We are thus advancing corporate citizenship activities in fields centered on three priority areas – support for education, environmentally friendliness, and humanitarian assistance – in order to contribute to the sustainability of society. We share our vision globally with Nissan employees around the world and strive to strengthen our relations with local communities by conducting activities responsive to the circumstances and needs of each country and region. Corporate citizenship in education field (Japan) Nissan’s corporate citizenship initiatives have been always focusing on â€Å"Cultivating Future Generation†. In education field, we have many programs such as â€Å"Nissan Children’s Storybook and Picture Book Grand Prix† with its long history, and â€Å"Nissan Joyful Picture Book and Storybook Exhibition†, and in addition, we started the new programs such as â€Å"Nissan Monozukuri Caravan† and â€Å"Nissan Design Waku-Waku Studio†, which utilize Nissan’s strength for those original programs. Organisational culture The diversity of Nissan’s employees is the driving force enabling them to meet the varied needs of their customers and to maintain sustainable growth. The employees create greater value by sharing their knowledge, based on their individual experiences and different ways of thinking, in response to the various challenges they all face. For these reasons, Nissan have made diversity a corporate strategy and strive to create an environment where all their employees—who numbered 169,298 at Nissan and its affiliates as of March 2010—can extend their individual talents to the fullest. SUPPORTING CAREER DESIGN Continually Improving Human-Resource Systems A company’s employees are its most important resource. So that both Nissan and its employees can reach their full potential, they constantly work to improve our human-resource systems. The evaluation-based remuneration system used to accurately gauge employee contributions is structured in a way that motivates them to set and achieve high goals. An employee’s salary is determined through a combination of performance evaluations, which measure how well the employee achieved certain goals (commitments), and competency evaluations, which measure such intangible variables as technical skill, knowledge and attitude. Support for Self-Designed Careers Nissan believes that employees should â€Å"design their own careers† and actively assists their efforts to do so. Employees in Japan meet with their supervisors twice a year to discuss their performance and competency evaluations, as well as to express their ideas on how to proceed in their career path. Employees in Japan also have the chance to take on the challenge of a new position through the Shift Career System (SCS) and the Open Entry System (OES). The SCS enables employees to apply for positions in other departments and work areas that interest them regardless of whether there is a position immediately available. The OES allows them to apply for all openly advertised positions. Around 250 employees applied for approximately 100 open posts during fiscal 2009, and roughly 80 of them were successful in getting the positions they applied for. Fostering Specialized Skills Helping employees develop specialized skills over the medium to long term is vital for a company to achieve sustainable growth. They introduced the Nissan Expert Leader System as a means of strengthening and fostering further development of specialized skills in a wide range of technical and nontechnical areas like purchasing and accounting. In fiscal 2009, the system’s fourth year, they focused on 91 fields of specialization, designating 42 employees as Expert Leaders and 2 management-level employees as Nissan Fellows. The Expert Leaders and Fellows make use of their specialized knowledge to contribute to Nissan’s business endeavours overall. In addition to sharing their knowledge with others via our corporate intranet and other communication tools, they contribute to the fostering of the next generation of experts by passing on their specialized skills in seminars and training courses. CREATING A CULTURE FOR LEARNING A Variety of Learning Opportunities As an organization that continues to grow through constant learning, Nissan supports employees’ personal growth with a proactive, systematic approach to human-resource development. The act of learning is one in which people stretch themselves to develop skills that create value. They believe that a corporate culture of learning cannot exist without the motivation to take part in this value creation. The Learning Navigation system on their intranet is one means of providing employees with opportunities for learning. This system lets employees search for information whenever they wish to develop specialized skills, receive training in management techniques, participate in e-learning programs or take distance-learning courses. The site is updated regularly to provide information our employees need to increase their skills and build their careers, meeting their growing thirst for knowledge. Management Institute The Nissan Learning Center Management Institute in Hakone, Kanagawa Prefecture, was established with the aim of cultivating human resources with  the specialized skills and leadership qualities needed for future development. The institute contributes to the ongoing creation of Nissan value through a number of programs, including human-resource development seminars, which provide leadership training to pass on the company’s accumulated experience and knowledge to the next generation; cultural diversity workshops; and our Consortium Program, in which they invite other global companies to take part in cross-industry exchange. Moreover, the leaders of our business activities around the world who have taken part in such programs as our Nissan Way Workshops are now active in educating fellow employees in the Nissan Way—the crystallization of experience and knowledge gained through our company’s revival—demonstrating our commitment to promoting a corporate cult ure of learning. Global Training Centers With the globalization of production systems, manufacturers must ensure that all of their manufacturing sites maintain consistent standards of quality. Nissan established Global Training Centers (GTCs) at its Oppama and Yokohama Plants in Kanagawa Prefecture, Japan, and at its Sunderland Plant in the United Kingdom to educate trainers who share their knowledge at Nissan plants around the world. Trainees selected from among all employees at Nissan’s production facilities worldwide are brought to the GTCs to take part in the company’s Master Trainer Program. Upon finishing the program they are certified as Master Trainers and charged with instructing other employees at Regional Training Centers using a globally standardized curriculum and materials. As of the end of March 2010, 466 Master Trainers were hard at work passing on their technical skills to local employees at Nissan plants worldwide. Nissan’s accumulated know-how has been put into audio-visual form as an educational tool, available in five different languages, for global-standards training at GTCs. They also conduct â€Å"Nissan DNA† training seminars for all management-level employees at our production sites, working to strengthen skills that contribute to improved quality and lower costs and to foster the human resources that can carry out more efficient management of production operations. INTERNAL COMMUNICATION Employee Surveys Nissan carries out surveys to get employee input and suggestions for improvements, using the results to help improve the company’s management quality and employee motivation. From the results of these surveys, they identify the strengths of the company as a whole and those of individual divisions, as well as areas for improvement. They then work to make improvements that will lead to the creation of a better work environment for our employees and to continued growth for the company. The results of these efforts are analyzed for the company as a whole and for each region and department. Based on these analyses, each level of management formulates and carries out action plans tailored to specific needs. Enhancing Communication Tools Nissan introduced a corporate intranet system called WIN (Workforce Integration @ Nissan) in 2005 as a tool to promote communication and information sharing. Since then they have continued to update the system with new technologies while encouraging employees to make active use of this tool for internal communication and collaborative activities. They have expanded the WIN network beyond Japan, North America and Europe to include other markets and our major business partners. They also use internal newsletters and in-house video broadcasts to provide a variety of information to be shared by all employees at Nissan production sites around the world with no difference in time. Employee-Executive Exchange Nissan holds opinion-exchange meetings involving executives and employees as a means of building trust through clear communication between these two groups, as well as among employees themselves. These meetings, held at Nissan’s corporate headquarters in Japan as well as the company’s business offices in China, North America and other parts of the world, give executives a venue for informing employees of the current situation of the company and delivering management messages. They also provide employees with opportunities to ask questions and voice their concerns in a direct and open manner. They plan to continue these meetings as an important channel for active communication. Ethical Issues Global Educational Activities to Promote Compliance As a means of fostering compliance awareness throughout the company, Nissan has established groups and placed officers in charge of promoting compliance policy in each region where it operates. We place special emphasis on education to ensure that all employees have a correct understanding of the Code of Conduct and, as a result, make fair, transparent judgments in the course of their duties. To ensure full understanding of the code in Japan, all employees, including executives, take an elearning or video training course based on the Japanese version of the Nissan Code of Conduct—â€Å"Our Promises,† instituted in April 2004—after which they sign an agreement to abide by it. The revised parts of the code in fiscal 2010 were in response to legal amendments and retained all employees since fiscal 2010 to further strengthen the spirit of compliance within the company. Education programs to promote compliance are held regularly for all employees in North America, and a set of universal guidelines has been drawn up for each country in Europe. Compliance-related training is also being carried out in the General Overseas Markets based on guidelines that take into account conditions in each of those countries. Moreover, all group-affiliated companies have introduced their own codes based on the Nissan Code of Conduct. Additionally, they have created sets of internal regulations covering the global prevention of insider trading and the management of personal information. Nissan seeks to heighten awareness of compliance companywide through such measures as well as various education and training programs. Our Stance against Discrimination and Harassment Item 6 of Nissan’s Global Code of Conduct, â€Å"Value Diversity and Provide Equal Opportunity,† is our requirement to accept value and respect the diversity  to be found among our employees, business partners, customers and communities where we do business, and to reject discrimination and harassment in all their forms, no matter how minor they may be. Nissan executives and employees must respect the human rights of others, and may not discriminate against nor harass others based on race, nationality, gender, religion, physical capability, age, and place of origin or other reason; nor may they allow such a situation to go unchecked if discovered. We also work to ensure that all employees, both male and female, can work in an environment free from sexual and other forms of harassment. PEST analysis PEST analysis is a useful strategic tool for understanding market growth or decline, business position, potential and direction for operations. The use of PEST analysis can be seen effective for business and strategic planning, marketing planning, business and product development and research reports. PEST also ensures that company’s performance is aligned positively with the powerful forces of change that are affecting business environment. PEST is useful when a company decides to enter its business operation into new markets and new countries. The use of PEST, in this case helps to break free of unconscious assumptions, and help to effectively adapt to the realities of the new environment. Looking at the current condition of Japan, it is difficult to mention anything about its political, economical, technological or sociocultural since there is no stability in the country at the moment, due to the natural disaster crises they are facing. SWOT Analysis Strength: 1) Global Brand: According to business Week Global Brand Scorecard Nissan is the fastest growing automotive brand. Nissan’s brand equity was valued at $3,108 million in 2006. Some of the company’s passenger car models include Maxima, Sentra, Altima, Versa, Z Roadstar and Z Coupe. Some of its truck models are Quest, Armada, Pathfinder, Murand and Xterra. Brand strength provides competitive advantage that can offset the increasing competition. Over the last five years company has establish the global brand by focusing on the brand pyramid and dynamics that caters the silky design, the vibrant experience, the interplay between serenity and driving pleasure has reached a high level of alignment and consistency. That makes it easier to communicate about the brand and specific features of its model. 2) Renault-Nissan Alliance: The alliance has provided advantages to both companies. They can move into new markets faster and with lower costs because they don’t have to build new plants. (Renault builds cars in Nissan’s Mexico plants and Nissan uses Renault’s Brazil plant and distribution networks) The companies are collaborating on building common platforms, components and engines, and each company leads engine design in their area of expertise–Renault in diesel and Nissan in gasoline. And they have increased purchasing power because they buy components for six million cars not three as will be in the case of Nissan alone. The alliance has so far boosted the profitability, market capitalization and sales in 192 countries for both partners. CEO and president of Renault to his titles in 2005, says he’ll rely on the strengths of two distinct work forces: French innovation in concept stages and Japanese dedication to process in manufacturing. 3) Most fuel efficient car: Nissan is known to make the most fuel efficient cars over the years and this has become one of its major strengths in the competitive market. Due to its fuel efficient car, the demand for them has also increased over the past few years. Weakness: 1) Product Innovation time lag: Nissan launched two new or redesigned vehicles, in comparison to 14 in the three previous years. Nissan has misjudged its model strategy in the United States over the past few years. Like the other Japanese automakers, the company was a relative late-comer to the country’s high-profit margin and high-volume pick-up markets. Nissan’s late entry meant that it has suffered from the decline in the sector as a result of rising fuel prices in Japan, While Toyota and Nissan have been well placed to benefit from a shift in emphasis in Japan market towards compact sales as a result of the Scion and Civic models respectively, Nissan at the moment has no competitive offering in this segment. However, there  are a number of new models that should reinvigorate the company’s fortunes in the United States, including the Sentra and Altima mid-size sedans, as well as its luxury-brand Infiniti G35 sedan. The company also desperately needs new offe ring in key segments in the European market. The Almera C-segment hatchback and Primera D-segment sedan are hopelessly outmoded and largely ignored by European buyers, although the new Note small multi-purpose vehicle (MPV) should provide Nissan with a sales success in Europe. 2) Lack of Diesel Technology: In the Japanese market, diesel accounts for only 0.4% of vehicles sold (Rowley, 2006). In contrast, diesel is very popular and its share in overall sales has been increasing. In the year ending 1st January 2006 the number of diesel cars sold increased by 7.5%. Some analysts believe that the diesel market will account for more than 80% of total vehicle sales in Europe by the end of 2008. Diesel technology has been improving significantly over the past decade reducing emissions, fuel consumption and cost. As Nissan’s home country has a low demand for diesel engines, Nissan lacks the technology and experience to produce diesel engines of comparative quality. Opportunity: 1) Asia market: Lower penetration coupled with strong rise in income levels, led to continuous jumps in car sales in markets like china and India. In fact china, followed by India is estimated to be major growth driver in the next decade. Hence it is necessary for global player to be present in these countries. Therefore all global players either have products for these markets or planning to develop products to enter into these markets. In India in year 2004-05 domestic sales of car and utility vehicles has crossed the 1 million mark. 2) Relocate its manufacturing unit to reduce cost: The Japanese car maker has stepped up their policy of producing where demand exists. Car making is an industry situated at a forefront of globalization and major player is accelerating their cross border activities. Manufacturing units in America and Europe have huge capacities in line with their vast domestic automobile  output. While this offered them the benefits of scale, the continuous sluggish growth in their local market and their inflationary increase in production cost, especially wage cost. Adoption of cost reduction measure became imperative for players to survive. China, India and Thailand have been regarded as the Low Cost Production bases with their unique offering to the outsourcers. Low cost country will provide them the global clientele and technology and also have synergetic operation. Area of opportunity for India lies in the products which have high level of design and engineering requirements, low level of auto mation and significant assembly requirement. 3) Renault-Nissan Purchasing Organization (RNPO): The RNPO, which was established in 2001 in the early stages of the alliance, was one of the key ways in which Renault-Nissan would combine their resources to create a more efficient organization. Currently Nissan and Renault share 60% of the same part and raw material suppliers. This has led Nissan to achieve greater purchasing power and has served to reduce costs and reduce the bargaining power of suppliers. There still remains significant opportunity through the RNPO to decrease costs and provide increased competitive advantage. Threats: 1) Cross-Cultural Disharmony: As Nissan and Renault become further integrated with one another, the risk of cross-cultural disharmony increases. If disharmony occurs then, as occurred at DaimlerChrysler, overall company performance may be reduced and the current strengths that the Alliance provides may become instabilities. Nissan is currently working to reduce the likelihood through its ‘Business Way’ program but corporate and national culture takes a long time to change. 2) Rising Commodity Prices: Due to the economic expansion of China, changes in commodity prices could affect the costs incurred by Nissan. Over the past 12 months, the price of steel used in car production has risen by nearly 30% (London Metal Exchange, 2006). Nissan has taken steps to reduce the effect of rising steel prices; in 2000, Nissan began using hot dip zinc coated steel and converted to less expensive steel in 2002, which saved about $16 million per year (Nissan Motor Co., 2004). This however, has done little to  reduce the upward pressure on vehicle costs and prices. As this increase in cost has been passed on to the consumer, demand for new vehicles has reduced. This threatens Nissan’s viability in the region. 3) Market saturation: With overall industry sales number stagnant, if not declining in key economies term, the overall automobile industry has been significantly impacted. Due to overall market saturation, the individual company new product development strategy towards market expansion is changing from iterative year on year model changes to drastic innovation. The emergence of SUV market few years back is an evidence of how product and market innovation has changed the very composition of US auto market. Marketing Strategies TARGET MARKET Nissan’s target market will be the low-level income group and middle class. Whereas Infiniti’s target market is people looking for luxury, great driving experience with unparallel appeal. With constant awareness and education about Nissan affordability and safety features, different type of group could be acquired resulting in increase of brand loyal consumers. People are more aware and therefore, they are constantly more particular when deciding which car to purchase. With strategic advertisement, consumers can be attracted with its latest features and a new image Nissan will provide to owners. NISSAN TARGET MARKET: GEOGRAPHIC SEGMENT The major concern of Nissan is to capture all the district headquarters of the country resulting in its coverage of almost all over the country. NISSAN TARGET MARKET: PSYCHOGRAPHICS With new image Nissan will provide to its buyers, owners will feel more confident and proud considering that Nissan is an international organization with strong background resulting driving Nissan a status symbol. Also safety and comfort are big factors of considerations in a consumers mind so Nissan by focusing on these factors will attract safety and comfort conscious people. Seeing its potential, consumers will most likely shift to Nissan. NISSAN TARGET MARKET: DEMOGRAPHICS Primary Target market belongs to middle class, upper middle class and low earning income people in society, falling in income bracket of below $ 2500. Also the target will be people from 25 – 60year old who are major automobile buyers. DISTRIBUTION STRATEGIES Basically there are two types of distribution channels available: Direct distribution and In-direct distribution PROMOTION STRATEGIES Promotion is one of the most important factors of marketing; it is done to affect the consumer behaviour in order to achieve sales and increase product image. In promotion the major task is to make consumers aware of the product and to attract consumer towards the product by highlighting the advantages of the product. Also it keeps consumers aware and well informed about product’s features and improvements. ENVIRONMENT RESEARCH An extensive market research will be conducted to have better idea about consumers’ perception about Nissan and its competitors. For this purpose Nissan will acquire services of marketing and research agencies to better analyze market environment. This will enable Nissan to learn about the consumers’ behaviour, how they perceive us and compare with the competitor. The media of the advertising a product is always chosen after the market environment research to get knowledge that if the target audience is interested in that mode of advertisement or not. ADVERTISING To advertise the product better and create awareness about product; Nissan will use different advertisement methods to approach the consumers. The diversity of advertisement channels will help in reaching the masses of different mindsets. Following Advertisement methods will be used: †¢ Nisan will use print and electronic media to introduce the product to consumers. †¢ Special events will be sponsored by Nissan. †¢ Use of Billboards, flex signs etc for massive introduction of car’s launch. †¢ Special road shows and displays will be set at dealers outlets. †¢ Prize contest will be conducted to attract people towards the car. Financial Review Net sales For fiscal year 2009, consolidated net revenues decreased 10.9%, to  ¥7.517 trillion, which reflected the strong yen offsetting the increase in sales volume. Operating profit Consolidated operating profit totalled  ¥311.6 billion, compared to a negative  ¥137.9 billion in fiscal year 2008. Net income Net non-operating expenses increased  ¥69.1 billion to  ¥103.9 billion from  ¥34.8 billion in fiscal 2008. Net income reached  ¥42.4 billion, an increase of  ¥276.1 billion from fiscal year 2008. Major competitors In Asia the 3 big of the automobile industry is Nissan, Toyota and Honda. But Nissan Motors major competitor is Toyota Motor Corporation. Toyota, much larger than Nissan and possessing deeper financial pockets, was better positioned to sustain the losses incurred from the global economic downturn. Consequently, Nissan entered its ninth decade of operation facing formidable obstacles. The first financial decline came in 1991, when the company’s consolidated operating profit plummeted 64.3 percent to  ¥125 billion (US$886 million). Six months later, Nissan registered its first pretax loss since becoming a publicly traded company in 1951– ¥14.2 billion during the first half of 1992. The losses mounted in the next two years, growing to  ¥108.1 billion in 1993 and  ¥202.4 billion by 1994, or nearly US$2 billion. To arrest the precipitous drop in company profits, Nissan’s management introduced various cost-cutting measures–such as reducing its materials and manufacturing costs–which saved the company roughly US$1.5 billion in 1993, with an additional US$1.2 billion savings realized in 1994. Nissan also became the first Japanese company to close a plant in Japan since World War II and cut nearly 12,000 workers in Japan, Spain, and the United States from its payroll. Nissan also was staggering under a debt load that reached as high as US$32 billion and threatened to bankrupt the company. Only intervention from Nissan’s lead lender, Industrial Bank of Japan, kept the company afloat. There were some positive signs in the early 1990s to inspire hope for the future. Nissan’s 1993 sales increased nearly 20 percent, vaulting the car maker past Honda Motor Co., Ltd. to reclaim the number two ranking in import sales to the all-important U.S. market. Much of this gain was attributable to robust sales of the Nissan Altima, a replacement for its Stanza model, which was introduced in 1992 and marketed in the United States as a small luxury sedan priced under $13,000. To the joy of Nissan’s management, however, the Altima typically was purchased with various options added on, giving the company an additional $2,000 to $3,000  per car. Nissan also was encouraged by strong sales of its Quest minivan, which was introduced in the United States in 1992 and had been developed jointly with Ford Motor, which marketed its own version, the Ford Windstar. Nissan’s losses continued through the fiscal year ending in March 1996, cumulating to US$3.2 billion over a four-year span. The company’s return to profitability in fiscal 1997 came about in part because of the cost-cutting program and in part from the yen’s dramatic depreciation against the dollar. Despite the return to the black, Nissan remained a troubled company. From its 1972 peak of 34 percent, the company’s share of the Japanese auto market had fallen to 20 percent by early 1997. Competition from the more financially stable Toyota and Honda played a factor in this decline, but Nissan also hurt itself by failing to keep pace with changing consumer tastes both in Japan and in overseas markets. For example, Nissan was behind its rivals in adding minivans and sport utility vehicles to its product line-up, having for years dismissed these sectors as passing fads. Meanwhile, minivans, sport utility vehicles, and station wagons accounted for half of all passenger car sales in Japan by early 1997, up from just more than ten percent in 1990. In the U.S. market, the Altima lost ground to two midsized rivals, the Honda Accord and the Toyota Camry, because Nissan’s model was smaller and thus less desirable. In the luxury car sector, Toyota’s Lexus line became the hot brand in the United States, triumphing over the Infiniti. Because of these and other factors, Nissan returned to the red for fiscal years 1998 and 1999. Although the losses were not as large as earlier in the decade, the company’s continued sky-high debt load–which stood at US$19.7 billion in late 1998–did not bode well for Nissan’s future. Business Strategies, Keeping Competitive Edge 1) Product Strategy To secure our profitability and sustainable growth based on our future product line up plan, in our product strategy developing process, we are monitoring the impacts of some different types of risk scenarios such as global market changes and demand deteriorations to our future profitability (COP) based on our plan. 1. Drastic decline of total global demand, past examples as reference case. 2. A demand shift between vehicle segments drastically faster than our assumptions in our mid-term planning. 3. A demand shift from the matured markets to the emerging markets drastically faster than our assumptions in our mid-term planning. We periodically monitor the impact of these scenarios to secure our future profitability and sustainable growth, and also update our future line-up plans periodically based on the results. To improve the robustness of our product line up against these risks, we take following countermeasures as our main direction when planning our product strategy. Expand availability of individual products across markets to mitigate the risk of single market demand fluctuations. Increase volume and efficiency per product through a consolidation and rationalization of the portfolio to lower the breakeven point and thereby reduce the profit risk of global Total Industry Volume declines. Prepare a more balanced product portfolio meeting needs in a broader range of markets and segments reducing reliance on specific large markets. 2) Quality of Products & Services Nissan is working on the corporate task named â€Å"Quality Leadership† which aims for achieving top level quality by FY2012. In this project, actions are carried out with numerical targets for following 4 areas. 1. Perceived quality & attractiveness: Customers’ impression on vehicle’s quality when customer looks it at a dealer’s show room 2. Product quality: Quality of product itself based on the experiences as an owner of the vehicle 3. Sales & service quality: Quality related to behaviour or attitude of sales staff or quality of service when inspection and maintenance 4. Quality of management: internal management quality to improve employees’ motivation which supports above 3 qualities For example, target of â€Å"Product quality† is to become top level at Most Influential Indicator (MII) of each region. In order to achieve the target, it is broken down to internal indicators by model which correlate with MII. Progress of all quality improvement activities are monitored with those  internal indicators. All the actions are taken based on rotating PDCA cycle, such as, the progress of activities are monthly reviewed by â€Å"Quality Committee† chaired by EVP and necessary actions are decided. Total picture of â€Å"Quality Leadership† on global base is monitored and discussed at the Global Quality Meeting chaired by COO annually. 2 years passed since this project started and it is going well. We are confident that we can achieve the target by FY2012. With respect to new model project, in order to achieve the quality target of each project, milestone meetings set at each key process of design, preparation for production and production, confirm key check points, such as achievement of quality targets, adoption of measures to prevent recurrence of past problem, adoption of measures for potential risks related to new technology / new mechanism / design change. Commercial production can be started after confirmation at â€Å"SOP (Start of Production) Judgment Meeting†, which confirms all issues are solved and quality target can be achieved. Final decision that the model can be sold is made at â€Å"Delivery Judgment Meeting†, after confirmation of quality of commercial production and preparedness for service / maintenance. As described above, Nissan is implementing thorough quality check before new model launch. Nissan is progressing quality improvement activities also after launch by gathering quality information from markets and prompt deployment of countermeasures. In case of occurrence of safety or compliance issues, necessary actions such as recall are implemented with close cooperation with market side team based on the decision by independent process from management. Occurred incidents are deeply investigated, analyzed and feed backed to models on the way of production or development for prevention of recurrence In addition to above described activities, such as quality assurance at new model project and quality improvement activities on daily basis, the â€Å"Quality Risk Management† framework has been newly developed from FY2009.  This is the high level system to ensure successful quality management for on-going and future projects. This includes assessment of quality related risks, evaluation of risk level, assignment of responsible person based on the level and to clarify organization for follow up. These processes are implemented at â€Å"Quality Risk Management Committee† chaired by EVP twice a year. 3) Compliance and Reputation As described above, Nissan produced the Nissan Global Code of Conduct for all employees of the Nissan group worldwide. To ensure thorough understanding of the code, training and education program such as e-learning is improved and compliant situation is monitored by Global Compliance Committee. Nissan has also adopted the internal whistle blowing system (Easy Voice System). This allows any employees to submit opinions, questions, requests or suspected compliance issue directly to Nissan’s management. Additionally, Nissan created sets of internal regulations covering the Global Prevention of Insider Trading and the management of personal information. Nissan keeps effort to prevent reputation risk to the company by continuous implementation of such measures as various education and training programs. Conclusion As the automobile industry is booming, It is necessary to keep up with the competition. The only way to compete with the competitors is to come out with innovative technology, fuel efficient cars, and luxury looking yet affordable cars. Nissan has not only concentrated on making cars but also provided their support to various stakeholders. Its working has benefited the environment by taking many environmental initiatives such as starting the Nissan Green Program 2010. The company also has worked towards effectively and efficiently developing their employees in terms of specialisation, or giving them a work-life balance. In line with its vision of Enriching People’s Lives, Nissan’s desire is to provide attractive products and services to customers worldwide while at the same time fulfilling its responsibility as a corporate citizen to help realize a sustainable society.

Impact of UK reservoirs on the surrounding environment Dissertation

Impact of UK reservoirs on the surrounding environment - Dissertation Example The paper tells that over the last 25 years, the â€Å"freeboard and spillway arrangements† for reservoirs in the UK have been based on the unit hydrograph rainfall-runoff and losses model. The model was used to obtain the design of the events of flood that would enable to determine whether the prevailing arrangements might convene the floods. The characteristics of drainage such as the area of the basin, the basin shape, the type of soil, use of the land, drainage density and drainage network topology, and the rainfall characteristics that include duration of the rainfall, its intensity, its distribution and direction are the different factors that might affect the shape of the hydrograph. The unit hydrograph model was established in the year 1975. However in the recent years, the model has been revitalized and hence replaced with the ReFH or Revitalized Flood Hydrograph Model that comprises three significant components – the loss, routine and baseflow models. The seas onality of the floods is also measured through this model such that factors of seasonal corrections are applied to the estimates of the flood designs and conditions with the purpose of meeting the floods. The Reservoirs Act 1975 led the responsibility of the law to protect the reservoirs in the UK. Approximately 25000 cu m of water is held by the UK reservoirs and the Act covers around 2500 reservoirs under its framework. England, Wales and Scotland are under the purview of this Act. However, the Act does not cover the reservoirs across the Northern Ireland. Undertakers, Enforcement Authorities, Qualified Civil Engineers, and the Secretary of the State are the four major persons or organizations in charge under the Act who have the different responsibilities in regard to the protection of the UK reservoirs. The undertakers are referred to the owners of the reservoirs and thus have the most significant responsibility for the reservoir’s safety. The role of the enforcement authorities comprises monitoring the performance of the undertakers. The design and supervision of the constructions of the reservoirs focusing on the safety issue are the responsibilities of the qualified engineers. The Secretary of State is in charge of supervising the activities of the other three major persons or organizations (The British Dam Society, 2010). It is in the last five years that the risks arising out from the reservoirs have been considered significantly as a matter of c oncern. The risk factors have arisen as a result of the uncontrolled discharge of water from the reservoirs threatening the lives of the heavily populated regions where the reservoirs are located in the UK. The reservoir safety legislation was introduced in the year 1930. Since then such disastrous incidents have not occurred. However, there have been several incidents that could have taken several lives (Morris, Hewlett & Elliott, n.d., p.3). Not only are the risks associated with such reservoirs, but also several advantages and disadvantages and impacts are associated related to the surrounding environment that might occur as a result of the constructions and use of the reservoirs in the UK. The present study focuses on the impacts that UK reservoirs have on its surrounding environment. The following figure represents the overall reservoir stocks in England and Wales between 1996-2005: Figure 1: Overall Reservoir Stocks in England and Wales 1996-2005 (Water Levels, 2007). 2. Liter ature Review: For a better understanding of the literature relating to the impact of reservoirs in the UK on the surrounding community it would be significant to gain a proper understanding of reservoirs and their function in the society. This will allow for

Qualitative report.How do people develop and maintain friendships at Essay

Qualitative report.How do people develop and maintain friendships at University - Essay Example The friends should enjoy the company of one another, they should be useful for each other in time of problems and needs and this condition is regarded as the most paramount condition for being a good friend. The third pre requisite is that they should share a common belonging with certain idea of concept. In other words they must share the same interests or hobbies that will be a cement substance for the long time relationship. Aristotle supports the same idea of pre-conditions in the friendship. Similarly, Bell and Coleman altercated that friendship is a bond or relationship in which there is not a specific reason for â€Å"self centred† behaviours and these friendship is not necessarily grounded with the intentions of gain or profit. Changingminds.org (2002)   The classical views and conventional ideas supported that in friendship, the constraints of the relationship vary a lot from person to person. For example Graham Allan said that in friendship. The more things which a re weighed are informal behaviours, pleasure, comfort, care and voluntary skills. Because friendship is not based on some pre defined profits, loss or gain, rather it is the culminating need of the humans to have friends in order to support each other, emotionally, mentally and for the fulfilment of societal needs. Resourcelists.st-andrews.ac.uk (2012) According to Aristotle, there are mainly two kinds of friendships at the generic level. First type of friendship that is genuine and the friendship that is not truly genuine. Genuine friendship comprises of the essence and peculiarity of love and care. The other kind of friendship is in turn divided in two kinds. Friendship for pleasure and the other type is friendship for expediency and serviceability. In this kind of friendship the bond is developed with the intention of selfishness in some form or the other. This type of bond is bound to extenuate and abate as no two human beings can either provide pleasure of any kind of utility f or each other indefinitely. In genuine friendship, love is the driving force in the relationship and irrespective of usability and pleasure; the both sides continue to uphold the sanctity of the relationship because it helps to fulfil their spiritual and societal needs. The usability and pleasure is the intended by products of genuine friendship. The genuine friendships are necessary to improve the relationships among the human beings in a society as it brings people closer to each other by instigating a sense of voluntary actions within their nature. Infed.org (1999)   Suzanne Stern-Gillet that the example of friendships that are based on pleasure and utility is just like activities of the normal life because such kind of friendships does not affect the human lives in high magnitudes. If someone has a friend who gives internal pleasure and some kind of gain to the other friend then it will not matter much when this friendship will end because there will be some another one to rep lace the former. But this is not the case in the friendships which have the spirit of love based friendship. Genuine friendships really put effects on people’s life because the peculiar charm in genuine friendship is related with personalities rather than materialistic gains. The personalities are important to each other in genuine friendships and sense of care and responsibility gives boost to this approach of friendship. Plato.stanford.edu (2005) There are numerous theories and practices about the

How Religion would Respond to Today's Issues Essay

How Religion would Respond to Today's Issues - Essay Example This paper analyses the ways in which religions such as Hinduism, Buddhism, Taoism, Confucianism, Judaism, Christianity and Islam respond to today's issues. Hindu religion consists of different castes such as Brahmins, Kshatriyas, Vaishyas, Shudras and Chandalas (Jayaram). Brahmins are the upper class caste while Chandals are the lower class caste in Hindu caste system. In other words racism appears in the form of caste system in Hindu religion. Hinduism considers poverty as a virtue rather than curse. In other words, Hindus do believe that the sufferings or poverty in this world is good for getting salvation. Hindus are not much aggressive like some of other religions. They will try to avoid war and murder as much as possible. They are peace loving people which are evident from the fact that India never tried to attack Pakistan even though Pak terrorists created so many problems in Indian soil in the recent past. Hindus normally do not believe in sex activities outside a marital relationship. However, in some of the Hindu castes, keeping more than one wife is allowed. Hindu women command huge respect from Hindu men and it should be note d that some of the goddesses of Hindu religion are females such as Sita, Lakshmi and Saraswathy. Hindus do believe in democratic administrations and they are the strong advocates of freedom and individuality. Education is considered as an essential activity by Hindu religion. Perhaps Buddhists are the most liberal and peace loving people in the world. They hate all types of war and murder activities. Killing of even an insect is a sin in Buddhism. Racism in any form cannot be witnessed in Buddhism. Freedom and liberties are much respected terms in Buddhism. Truthfulness is the major land mark of Buddhism. Buddhism advocates normal sex activities for layman. However, â€Å"Complete sexual continence is considered an essential feature of the monastic life. Intercourse of a heterosexual or homosexual character is automatically a Parajika offense† (Walshe). Capitalism and injustices are unacceptable to Buddhism. Taoism give more emphasize to living in harmony with the environment or nature. Taoism believes in the ancestor spirits and immortals. Taoists believe in a peaceful life filled with happiness. So, war and murder like activities are unacceptable to Taoism. Even though Taoism considers sex as a vital component in the relationship between men and women, it never advocates crazy sex habits or unnatural sex. As per the beliefs of Taoism, â€Å"a strong military was an important tool in human relations, but the conduct of warfare was an absolute last resort. Its consequences so potentially harmful that it had to be understood completely and practiced flawlessly when required†(Davis). Confucianism believes in humanity more than any other religions in the world. It has not much customs or rituals compared to other religions. War and crimes are unacceptable to Confucianism. â€Å"Confucius regarded himself as a transmitter, not the originator, of social values and wisdom† (Dr. Sprunger). Judaism, Christianity and Islam are three Abrahamic relig ions. Even though the origins of these three religions have some common elements, their beliefs are entirely different. Islam does not hesitate to conduct wars against the enemies. In fact killing of enemies of religion is a sacred act in Islam. Jews and Christians are also seeing no dangers in conducting wars even though they are not much adamant in religious belief and thoughts. Jews and Christians give more freedom to the sexual life. Homosexuality is practiced among Christians and Jews even though their religious beliefs are against it. On the other hand such things are punishable acts in Islam. Muslim males can keep

Book review Coursework Example | Topics and Well Written Essays - 1750 words

Book review - Coursework Example Capitalism is based on accumulation of wealth by ignoring the social facets of life; it embeds in us the evils of alienation, bitterness and takes away our compassion for others. With influence of capitalism creeping in our daily lives, we intend to make every social interaction a business transaction or something that can give us value or return. The essential of a worker’s society is obsession with work and the attraction and content one finds in working for corporations is enormous these days. Children who see their parents’ working day in day out witness the financial well being of their family and an assured status in society also get obsessed with it and follow the same path while unemployed men and women also inspire to find work with no real concern for work environment or consequences to social life. The modern worker in this society is in worst situation then in the era of industrialization and Fordism; which at least assured that work would not entrench in li fe and weekend leisure would remain intact. In those times death was feared and work was a means to an end although these days death is not feared but welcomed in comparison to the hell a worker lives in. Hence the fear is of living a life that is not worth living. According to the book, â€Å"Entering the workforce is like entering your grave while you pretend that you are interested in the work you do (Cederstrom & Fleming, 2012)†. Organizations tactfully mixed our lives with our work and strategized new ways to keep us going through the same routine and silently encouraging worker to work all the time. The slogans of ‘be yourself’ and ‘work is fun for us’ or ‘work leisure’ have diluted our identities, deprived us of real fun and leisure, as a result workers are either working or thinking about the work all time. The so called independence at work, motivational activities, parties and team activities brought formalized informality in t o action. While the whole corporation calls for informal practices, the worker who resists or finds these activities uninteresting is considered to be committing a crime. So are workers doing something about this? The authors suggest that the worker is an equal contributor to his demise by accepting such a life and responding to the ever increasing demands from the employer (Cederstrom & Fleming, 2012). A series of blunders were made by the government and later on by the organizations, the first being over reliance and obsession with the capital system which led to the exponential development of the private enterprise. What was initially controlled by government is now in hands of profiteers accumulating for themselves with amount of wealth that was not witnessed before in human history. Individual freedom that was once controlled by the government is now controlled by a more heinous motive, the motive of selfishness along with a hunger for more power and enhanced control. Poverty a n evil in our society is still prevalent and capitalism has not played a role in reducing it, similar to the old days poor are still dependent on governments and private enterprises are only concerned with their own profits and sustainability, cutting back jobs and closing operations on their will without any respect given to the worker or his

Qatar Airways Assignment Example | Topics and Well Written Essays - 5000 words - 1

Qatar Airways - Assignment Example Allocation of marketing budgets have been recommended. Marketing is no more a mere functional discipline but for most managers it now centers on identifying and satisfying customer requirements (Hooley, Piercy & Nicouland, 2009, p3). Recent challenges to marketing functions from sources as diverse as McKinsey Consultants make it imperative that marketing reflects new development and market opportunities. The effectiveness of marketing is ascertained based on how effectively a marketer is able to reach out to customers and fulfill customer needs and expectations better than competitors. Airlines too have been competing against each other through different marketing techniques. Qatar Airways, the flag carrier of the state of Qatar, headquartered in Doha-Qatar Airways Tower, was found on 22nd November, 1993 (Qatar Airways Fact Sheet, 2012). Qatar Airways is one of the few international airlines that are able to reach over 133 destinations worldwide like Africa, Middle East, South Asia, Europe, North America, South America, Far East and Oceania with a fleet exceeding 128 aircrafts (Qatar Airways, 2013). The airline operates a hub-and-spoke network linking over 100 international destinations from its base in Doha. Offering of First Class, Business Class and Economy Class services, supported with in-flight entertainment and superb first class service for all classes, have led Qatar Airways to be ranked as one of the few airlines in the world to achieve the 5-star rating. Qatar Airways has an internet booking engine but apart from that it now allows free download of mobile app on to any smart phone for greater convenience. This mobile app enables smart check-in for flights, fare finder, flight status information, global contact information and offers numerous payment options (Qatar Airways, 2013a). They offer the lowest fare finder facility

Business future Assignment Example | Topics and Well Written Essays - 2250 words

Business future - Assignment Example These sources are highly reliable since they are published by prominent authors and the government of India hence they satisfy international standards of credibility and relevance. This report can serve as a preliminary reading before one embarks on an intensive research into the car manufacturing industry in India. Manufacturing is the labour-intensive and machine-applying process through which raw materials are converted into finished products on a large scale either for use or for sale (Brown, 2001). Manufacturing also entails the formulation of merchandise through the manipulation of chemical and biological processes. The uses of the output of the manufacturing industry are very diverse. For instance, some of the products from the manufacturing industry can be used for other complex manufacturing processes such as aircraft manufacturing, for sale to wholesalers who then sell to retailers, or direct sale to end consumers (Brown, 2001). In free markets, the manufacturing industry focuses on mass production of good for sale to end-consumers at a profit while in collectivist markets, the manufacturing industry is used to supply the government’s planned economy. In mixed markets, manufacturing is conducted under governmental regulation (Raj put, 2008).   Since the manufacturing industry is one of the most potent wealth generating industry, there have been several variations in this industry depending on the products, machinery, technology and objective (Raj put, 2008).   One of the facets of the manufacturing industry is automobile or car manufacturing sector (Peters, 2011). The car manufacturing is a sub-sector of the manufacturing industry, which houses a wide range of companies with their common activity being the designing, manufacturing, advertising and selling of automobiles (Peters, 2011). It excludes the organizations or companies

International Law and Institutions Essay Example | Topics and Well Written Essays - 1250 words

International Law and Institutions - Essay Example The Security Council has primary responsibility for the maintenance of international peace and security. Since the 1990s not only has the Security Council agreed to authorize humanitarian intervention, there have also been interventions without authorization from the Security Council such as the intervention in Northern Iraq, Somalia, Bosnia, Rwanda, Haiti, Yugoslavia/Kosovo and East Timor. These latter interventions have arisen as a result of a perception of the Security Council’s failure to act or ineffective action where there has been concern about the severe deprivation of human rights. For example, the failure of the UN to broker political peace in Somalia led to the US Operation Restore Hope in 1992, which for the first time in American history, saw American troops committed to a military operation for a cause completely unrelated to protecting their national interest. The operation’s goal was to open supply routes for food relief efforts and prepare the way for a UN peacekeeping force to preserve the security of these routes. The challenge, it seems, must be to leave open the option for humanitarian intervention in extreme cases of human suffering, where the reasons for action seem morally imperative and politically sound but the Security Council is unable to act, while at the same time to avoid jeopardising in a fundamental way the existing, hard-earned, international legal order, including the central role of the Security Council.  Ã‚  ... must be to leave open the option for humanitarian intervention in extreme cases of human suffering, where the reasons for action seem morally imperative and politically sound but the Security Council is unable to act, while at the same time to avoid jeopardising in a fundamental way the existing, hard-earned, international legal order, including the central role of the Security Council.1 The Security Council is bound by the Charter. However as the US has cogently argued the Charter is too narrow. It envisaged only those situations where a state might call on the help of the international community or where international peace was threatened. It did not take into account the situations observed since then in the killing fields of Cambodia, Rwanda and Srebrenica. In 2004, 10 years after the genocide in Rwanda, the Canadian Foreign Minister, Bill Graham was reported by the BBC to have said: We lack the political will to achieve the necessary agreement on how to put in place the type of measures that will prevent a future Rwanda from happening2 Although the primary responsibility lies with the state, where a population is suffering serious harm, as a result of internal war, insurgency, repression or state failure, and the state in question is unwilling or unable to halt or avert it, the principle of non-intervention should lead to a larger principle, that of the international responsibility to protect3. There are essentially 2 criticisms of the UN: its relevance and its structure. As can be seen from the US ignoring the UN over Iraq and the UN's admission of failing to act in time to the obvious threat in Rwanda, there are many reasons for questioning its relevance. Its structure goes back to 1945 where the victorious powers of World War II decided to stamp their

How change in oil prices affect the stock market of GCC prices Assignment

How change in oil prices affect the stock market of GCC prices - Assignment Example The abrupt fall in oil prices has a varied effect on the world economies. Most of the oil producers will face economic recessions, and the value of their currencies will depreciate, owing the reduction in the purchasing power. Major oil producers will lose their funds, owing to the abrupt decrease in value of oil. However, the US and other oil consumers have no major worries, and the drop in the prices of oil proves to be a positive movement for betterment of the economy (Mirhaydari, 2014). The history of oil prices encompasses varied changes though this may appear as the major decrease in the 21st century. Before the industrialization and increased dependence on oil, prices were low. However, the increased demand for oil resulted in an increasing value of the crude oil. It has remained this way for a long time until now. Much of the world still depends on oil, though major economies, such as China, USA, and Europe as a continent, have minimized their consumption, narrowing the market (Stefanova, 2014). The price fall may be attributed to this demand change. The stock markets of GCC will be adversely affected by the decrease in the oil prices worldwide. The reduction in the GDP of these nations will amount to decreased spending, and thus there will be a reduction in the demand for shares and stocks, minimizing the trade occurrence. A stock market crash may be possible since there will be significant effects on the countries’ economies. The prices of stocks will fall, because of the prevalent low oil prices. Oil is the largest export in these countries, and thus a reduction in the money in circulation, which limits consumer spending, resulting to poor performing stock markets (Morris, 2015). Oil prices are at their lowest state in the 21st century, resulting in varied effects on the economies of different countries. The US, Europe, and China are some of the