The Role of the Entrepreneur in Economics

The Role of the Entrepreneur in Economics Introduction Whilst entrepreneurship has existed for centuries and has contributed greatly to the foundation of Anglo-American business development and growth, its serious academic study is of more recent origin. The major reason behind this aberration possibly lies within the tenets of traditional microeconomic theory, which connects success and failure to essentially material causes and leaves little space for an essentially subjective and unquantifiable phenomenon like entrepreneurship. International differences in living standards are, for example, attributed to â€Å"differences in national endowments of labour, capital and natural resources, which in turn stem from differences over time in rates of population growth, saving and natural resource depletion.† (Welsh, 2003, P3) In fact the field of entrepreneurial activity was likened, as recently as 1983, by a Harvard University professor to an â€Å"intellectual onion.† (Welsh, 2003, P3) â€Å"You peel it back layer by layer and when you get to the centre there is nothing there but you are crying† (Welsh, 2003, P3). Studies backed by empirical and statistical evidence however show the importance of entrepreneurial activity in creation of new jobs and of small and medium businesses. (Harper, 2003) Research also indicates the presence of a residual factor, which is extremely significant to the success of business enterprises, relates to the quality rather than the quantity of resources, as also with the differences in efficiency of resource utilisation. (Harper, 2003) Whilst such differences in quality and utilisation of resources are often associated with the quality of human capital that has been developed through education and training, recently developed entrepreneurial theory also associates human capital with the entrepreneurial abilities of the population. (Harper, 2003) The role of the entrepreneur is best gauged from a historical perspective, which in turn enables academic researchers and historians to realise that some people were right and others wrong at certain points of time. (Birley Macmillan, 1997) Such people saw opportunity where others did not; whilst being in a minority they proved the majority wrong, and by doing so, altered the course of history. Much of the earlier neglect of the role of entrepreneurs has vanished over the last few decades. Entrepreneurs like Bill Gates, Steve Jobs, the founders of Google, and Richard Branson are much admired role models; individuals who have contributed immensely to modern day society. Silicon Valley is a globally admired phenomenon and entrepreneurial activity is happening faster, and with more capital behind it, than ever before. The success achieved by the entrepreneurial community has led to their activity attracting enormous capital, not just in the United States, where stories of garage start-ups that have gone on to become billion dollar businesses have become part of folk lore, but also in many other parts of the globe. The market for venture capital offerings and Initial Public Offers has reached unprecedented heights; successful entrepreneurs have also invested heavily in other new businesses, backing competent people and supporting interesting ideas. (Welsch, 2003) Much of the enthusiasm for supporting entrepreneurship, as well as its practice, has also arisen from the growth of some extremely successful entrepreneurs into larger than life international icons, known worldwide for their enormously successful businesses, their social, economic, and political power, and, sometimes, their exaggerated lifestyles. L N Mittal the British steel tycoon, who hired the Versailles to celebrate his daughters wedding, provides an example of a successful modern day entrepreneur, ideally suited for a critical assessment of entrepreneurial practice, within its organisational, social, and personal contexts. Commentary and Analysis Mittal, the man, his life, and his company Mittal’s life is a fascinating account of the progress of an entrepreneur who grew from very simple beginnings in a conservative, deeply religious, and orthodox business community family in Calcutta (now Kolkata) to the largest steel producer in the world and the richest person to reside in the United Kingdom. Born into a medium level business family, Mittal’s early childhood, whilst austere, was not deprived. His father, a first generation entrepreneur was the owner of a steel mill in the central Indian province of Uttar Pradesh. Mittal grew up in Kolkata; where he first attended a local language school, and then went on to take a bachelor’s degree in commerce, before joining his father’s business. (D’Costa, 1999) Most members of the Rajasthani business community to which he belonged still believe in children getting into business to get practical experience immediately after obtaining a basic education, and Mittal did not even think of studying fo r an MBA like many of his peers. (D’Costa, 1999) Working in the family business for more than a decade, Mittal learnt steelmaking in Indonesia where the company had purchased an old loss making steel plant. (Balakrishnan, 2003) Turning it around successfully, he focussed on buying other loss making steel plants and making them into viable units; he separated from his family in 1994 (Balakrishnan, 2003) and in an astonishing period of fifteen years built the largest steel company in the world. Mittal’s strategy for growth was at once extremely simple and yet tremendously demanding. Concentrating on locating old, decrepit, and loss making steel mills, Mittal would procure them at bargain basement prices, modernise them with great cost effectiveness, increase their productive capacity and quality, and make them into efficient and viable units. (D’Costa, 1999) Mittal or LNM, as he is called, started buying out old and rusty companies in the early 1990s.One of his earliest coups happened in 1992 when he was able to buy the 20 year old Sibalsa mill in Mexico for USD 220 million. (Balakrishnan, 2003) This purchase was followed by mills in Trinidad, Canada, East Europe, and Africa, acquisitions that stretched his business affairs from Mexico and Canada to Romania, Kazakhstan, the Czech Republic, Algeria and Indonesia. (Balakrishnan, 2003) Apart from being known to be immensely effective in driving hard bargains, Mittal also developed a multidisciplinary team trained to make the most of dilapidated nationalised rustbuckets that had been put on the block. Many of his team members came from SAIL, the resource strapped and loss making Indian public sector steel making company whose managers had extensive experience in extracting the most from obsolete and ill maintained machinery at the least possible cost. Available for a fraction of the costs of western managers, these well knit teams of production experts would move in after the completion of an acquisition, put the plant into working order, increase its capacity significantly, train local managers, and move on to the next buy. (D’Costa, 1999) â€Å"At Ispat Sidex in the Czech Republic, production climbed from 3.04 million tonnes to 3.65 million tonnes, a year after it was acquired.† (Balakrishnan, 2003) Again at the giant Karmet Steel Works in Kazakhstan, which Mittal bought in 1995, production rose from 2.2 million tonnes in 1995 to more than 5 million tons in a few years. (Balakrishnan, 2003) Mittal’s biggest acquisition occurred in 2006 when he took over controlling interest of Luxembourg based Arcelor, then the world’s largest steel company, after a long drawn battle with the board of the target company. (Mittal Wins, 2006) Arcelor Mittal is now the largest steel company in the world. Producing 10 % of global steel output, the company operates in 60 countries, has more than 300,000 employees, and is ranked 39th on the Fortune 500 list. In 2007 it had assets of 133.6 billion US dollars, achieved sales of 105.2 billion US dollars, and achieved profits of 10.36 billion US dollars. That’s a long way to come in 15 years. Mittal’s current lifestyle belies his middle class origins. He has an eye for luxury, a fascination for opulence and revels in making extravagant lifestyle statements. His houses in London are among the most expensive in the world, the weddings of his children have been explosions of lavishness, and he is not known for charitable work. â€Å"Mittal outscored billionaires like Donald Trump of US, luxury titan Bernard Arnault of France and Andrei Melnichenko of Russia with a $60 million extravaganza in honour of his daughter Vanisha’s nuptials, Forbes magazine said in a report titled â€Å"Billionaire Weddings.† Mittal family had sent out 20-page invitations in silver boxes, while 1,000 guests were put up in a five-star Paris hotel for the five-day affair for marriage of Vanisha Mittal with Amit Bhatia in June 2004. A party was hosted at Versailles, while another event reportedly took place at a wooden castle temporarily erected in Parc de Saint-Cloud, Forbes said.† (Billionaire weddings, 2006) Proud to be Indian and still the holder of an Indian passport despite many years in London, Mittal’s charitable gestures extend to setting up a sports academy and foundation to prop up India’s pathetic sports effort and gifting successful Indian sportspersons with extravagant money prizes. Mittal’s business efforts have not been successful all the time. â€Å"There have been deals that have stayed out of reach along the way. A few years ago, the LNM Group was on the verge of clinching a deal to buy Sidor, a Venezuelan plant but found the prize snatched from it at the last moment. U.S. Steel which beat the LNM Group in the race for VSZ in Slovakia. It also beat Mittal to the draw for Sartid, a Serbian plant. His efforts to grab a share of the e-business pie also evaporated into cyberspace. He attempted to marry technology and steel by setting up an e-exchange where steel could be traded, but the effort was aborted. His venture capital fund which hoped to strike a gusher in the hi-tech sector also didnt score any big multi-bagger hits.†(Balakrishnan, 2003) Assessment in terms of Entrepreneurial Theory Various economists have attempted to explain the process of entrepreneurship in different ways. Attempting to fill in a vital gap in the market process, economists like Schumpeter, Mises, Hayek, Shackle, Lachmann and others have tried to clarify entrepreneurship as â€Å"the animating force of the market process, initiating each alteration of the existing pattern of values, plans, and expectations in the market, and carrying through the physical actions which bring about new values, plans, and expectations.† (Wood, 2005) Successful entrepreneurship is the core of market development; not only does it bring about changes of existing to future strategies, estimations, and opportunities, but also the sighting and construction of fresh future conditions that are better than choices on hand and the concrete modification of present plans to each other and to the future. In essence the entrepreneur is often regarded as a connector; the person who detects the opening of gain between two separate market members, initiates required actions for purchasing from the vendor and selling to the buyer, and captures entrepreneurial profit. There however also exist other entrepreneurial tasks, which necessarily begin with the route of watchfully perceiving the incidence of opportunity before others, followed by finer details. The definition of entrepreneurship laid down by Stevenson in 1983 as â€Å"the pursuit of opportunity beyond the resources you currently control† is much in favour at Harvard University and takes account of both the individual and the larger society of which s/he is a part. (Welsch, 2003) The individual identifies an opportunity that needs to be followed and then tries to obtain the required resources from the larger society for exploiting the opportunity. (Morris, 1998) Entrepreneurship theory has in recent years been significantly enriched by inputs from numerous researchers who have tried to analyse the phenomenon from the social, organisational and personal contexts. Welsch, (2003), states (from an investigation of histories and culture in forty countries) that (a) entrepreneurship flourishes in communities where resources are mobile (b) entrepreneurship is greater when successful members of a community reinvest excess capital in the projects of other community members, (c) entrepreneurship flourishes in communities in which the success of other community members are celebrated rather than derided and that (d) entrepreneurship is greater in communities that see change as positive rather than negative. Some of these conditions are particular to Mittal. He comes from a desert trader community, the members of which moved out to other regions a couple of hundred years ago in search of opportunities and prosperity. Over time the Marwari community, of which he is now a much celebrated member, developed very strong kinship, hereditary business expertise, internal processes of information exchange, strong informal networks through arranged marriages, and the ability to seek, spot, and exploit opportunities. Trust in such societies is created through intra-community linkages and the growth of diverse collaborative ventures where preferential treatment is usually provided to companies with same community ownership. Mittal himself married a wealthy moneylender’s daughter from the same community and his initial business efforts in Indonesia were supported by the family business and other members of the community.(Richter, 1999) Whilst he separated his business from that of his family n either he nor his family have ever expressed rancour or talked publicly about the reasons for separation except to state that he wished to follow the international route whereas the other family members wished to grow in India. .(Richter, 1999) He was the first to spot the potential available for commercial exploitation of old and loss making steel plants and could successfully put through a process of making them into productive and valuable assets. He has also had the confidence to constantly leverage his businesses taking on debt to fund the needs of acquisition and consolidation. (Harper, 2003) Much of Mittal’s entrepreneurial success in his chosen field is due to the organisation he moulded during the 1990s. Putting his trust in the people of his country rather than in creating an organisation with an international culture, Mittal stacked his team with production and finance people from India, the production people being drawn from India’s old and obsolete public sector steel plants where maintenance and operations on paper thin budgets called for gallons of ingenuity and expertise, (Balakrishnan, 2003) and the finance people invariably being sharp chartered accountants from his community who could be trusted to drive the hardest bargain and maintain total confidentiality. This team, which he personally supervises and motivates, is close knit and expert in working in alien environments and setting up new organisations. Whilst currently existing theories may be inadequate for comprehension of the vibrant interaction amongst entrepreneurship, the state, and external environmental factors, as well as the institution’s capability to assist entrepreneurship and ensuing efficacy, it does differentiate between innovative and entrepreneurial organisations, entrepreneurship involving individuals building new organisations rather than individuals who are involved with established corporations. (Koepp, 2002) Mittal’s empire has not been known for pathbreaking innovation of the type shown by Google or YouTube where entrepreneurship and innovation live closely in cosy comfort. It is known to stay with businesses in which its expertise has been built over years, and where success comes from production ingenuity and a vigilant eye on costs. Mittal’s preponderance to stay with people with whom he is culturally comfortable and whom he feels he can trust and control also denies him access to the much larger talent pool available to organisations who hire only the best regardless of their origin. It also possibly explains the reasons behind the failures of ventures that attempted to go beyond the pale of steel production, for example the lack of success in his attempts to set up an e-business, an e-steel trading exchange, and a venture capital fund. Entrepreneurship theory also essentially focuses on the entrepreneurial psyche, i.e. the fundamental mental and attitudinal differences that distinguish entrepreneurs from others. Peter Drucker and Frank Knight associated entrepreneurship with the willingness to take risks and spend time and capital in pursuit of ideas and convictions, especially in situations of true uncertainty about outcomes. (Welsch, 2003) Shackle, Lachmann, and other economists however theorise that the true entrepreneur does not bear risk. (Wood, 2003) Entrepreneurs are actually so sure of the trueness of their future forecasts that they believe that the future will roll out exactly as they anticipate; whilst knowing that they operate in situations of uncertainty they have the confidence in their ability to make correct forecasts. Although this phenomenon has been interpreted by Mises to mean that entrepreneurs are oblivious to all else but profits, a consensus is building on the theory that whilst entrepreneur s are aware of uncertainties, they shoulder risks aside in their pursuit of their convictions. Entrepreneurs are also associated with creativity, resourcefulness and strong self belief, desire for new ideas, openness to change, inherent competitiveness, motivation, energy, and openness to criticism. (Morris, 1998) Entrepreneurship is also associated with passion, commitment, and perseverance. Whilst it is improbable that all successful entrepreneurs are so gifted, many of them possess some of these qualities in abundance. Research studies however do not pay much attention to issues like factors like luck and fortune in successful entrepreneurship and the need for the entrepreneur to be in the right place at the right time. Nor do they associate it much with greed, ambition, the tendency to cut corners, and to work on the periphery of rules and procedures. Microsoft has been accused time and again of stifling competition and has been involved in anti-trust legislation. Many questions have been raised about Mittal’s donations to the labour party and the poor conditions of workers in his factories. Whilst much is made of the positive qualities of entrepreneurs it is but fair to recognise that ambition and greed contribute significantly to their mental makeup and strong institutions and regulatory procedures are needed for society to benefit from the dynamism and vitality they bring to business. Conclusion Mittal in his personal life is known to be a committed family man and has groomed his son to succeed him in future. Close associates say that he is hard working and driven by his bottom lines. Whilst detractors feel that he has been helped by the phenomenal increase in the demand for steel and that he was in the right place at the right time when large numbers of dilapidated steel plants were being put on the block, the enormous and sustained success of his enterprise proves that there is much to his success beyond simple luck. His organisation building capacity is said to be remarkable and he provides his engineers a stable and financially beneficial working environment. Entrepreneurship theory is also about vision; the capacity to forecast future happenings with great perspicacity. (George Zahra, 2002) This is where Mittal scores. More than anything else people associate him with extraordinary vision, the ability to see the need of the future and build his grand plan accordingly. (Balakrishnan, 2003) Whilst he has been distracted from time to time by plans for other businesses, his focus has been sharp on the need of the steel industry to consolidate and the inability of small and medium sized steel businesses to cope with the demands of the present and the future. Although the man is now regarded more as a business giant, concerned with the consolidation of his industry rather than with starting new business ventures, he stands as a classic case of a successful entrepreneur and of the tenets of entrepreneurship theory. Word Count: 3160 and References References Balakrishnan, P, (2003), L.N. Mittal, the king of steel, rediff.com, Retrieved April24, 2008 from www.rediff.com/money/2003/sep/27spec.htm Billionaire weddings: Mittal on top, (2006), The Financial Express, Retrieved August 24, 2008 from www.financialexpress.com/news/Billionaire-weddings-Mittals-on-top Bird, B., Brush, C. (2002), A Gendered Perspective on Organizational Creation, Entrepreneurship: Theory and Practice, 26(3), 41+ Birley, S. Macmillan, I. C. (Eds.), (1997). Entrepreneurship in a Global Context, London: Routledge Does a Society Which Fears Failure Stifle the Entrepreneurial Spirit. (2005, June 29). The Birmingham Post (England), p. 17 Ford, N. (2008, March). Mittal Wrapping Up Africa? as the Pace of Asian Investment in African Raw Materials Begins to Pick Up, Indias Arcelor Mittal the Worlds Largest Steel Producer, Has Announced New Investment in West African Iron Ore Mining. What Are the Implications for Africa? Report by Neil Ford. African Business 54+ Gartner, W. B. (2001). Is There an Elephant in Entrepreneurship? Blind Assumptions in Theory Development, Entrepreneurship: Theory and Practice, 25(4), 27+ George, G., Zahra, S. A, (2002), Culture and Its Consequences for Entrepreneurship, Entrepreneurship: Theory and Practice, 26(4), 5+ Harper, D. A. (2003), Foundations of Entrepreneurship and Economic Development, New York: Routledge Henderson, S. (2008, March). Growing Up CEO: Parents Can Nurture a Childs Entrepreneurial Spirit, Ebony, 63, 170+ INSIDE THE WORLD OF THE MEN OF STEEL; Dynasty of Steel: The Billionaire Lakshmi Mittal with His Son Aditya at the Familys [Pounds Sterling]57 Million London Home Opposite Kensington Palace. Lakshmi Says of His Son I Am Following in His Footsteps. He Is the Future. (2007, September 11). The Evening Standard (London, England), p. 18 Jelinek, M., Litterer, J. A. (1995), Toward Entrepreneurial Organizations: Meeting Ambiguity with Engagement. Entrepreneurship: Theory and Practice, 19(3), 137+ Koepp, R. (2002). Clusters of Creativity: Enduring Lessons on Innovation and Entrepreneurship from Silicon Valley and Europes Silicon Fen. Chichester, England: Wiley Mittal Wins Battle for Arcelor to Create Worlds Biggest Steel Firm. (2006, June 29). Manila Bulletin, p. NA Morris, M. H. (1998). Entrepreneurial Intensity: Sustainable Advantages for Individuals, Organizations, and Societies. Westport, CT: Quorum Books Muhammad, T. K. (1997, January). From Buppie to Biz-Wiz: Forget Corporate America Generation X Is Choosing the Entrepreneurial Path to Success. Black Enterprise, 27, 44+ D’Costa, A, (1999), The Global Restructuring of the Steel Industry: Innovations, Institutions, and Industrial Change. London: Routledge Richter, F., (1999), Business Networks in Asia: Promises, Doubts, and Perspectives. Westport, CT: Quorum Books Schonberg, S. (2006, Spring). Europes New Protectionism: A Former Policy Insider Outlines the Disturbing Trend. The International Economy, 20, 46+ Taylor, R. R. (1988). Exceptional Entrepreneurial Women: Strategies for Success. New York: Praeger Theil, S. (2008, January/February), Europes Philosophy of Failure: In France and Germany, Students Are Being Forced to Undergo a Dangerous Indoctrination. Taught That Economic Principles Such as Capitalism, Free Markets, and Entrepreneurship Are Savage, Unhealthy, and Immoral, These Children Are Raised on a Diet of Prejudice and Bias. Rooting It out May Determine Whether Europes Economies Prosper or Continue to Be Left Behind. Foreign Policy 54+ Welsch, H. P, (2003). Entrepreneurship: The Way Ahead. New York: Routledge Wood, J.S, (2005), The development and present state of the theory of entrepreneurship in product and asset markets by Knight, Hayek, Schumpeter, Mises, Kirzner, Shackle and Lachmann, Austrian Scholars Conference 2005, Retrieved August 24, 2008 from mises.org/journals/scholar/wood.pdf

Tourism in Lesotho

It is called the Kingdom in the sky. Where you can touch the clouds and be as one with nature. The mountains of Lesotho provides serenity, a rejuvenation of the mind, a revitalizing of the spirit things which cannot be described but can only be experienced. And it is too true that if you have not been to the mountains, you have not been to Lesotho. The sheer majesty of the peaks as they kiss the clouds leaves one breathless, the cascading rivers flowing from on high bringing forth life giving, nature’s best, fresh clean crystal clear water. It is as if you have crossed into another realm. This natural tourist paradise is begging to be marketed to draw people from all over the world for the benefit of Basotho people. The mountains are but one of the many tourist attractions Lesotho is endowed with. Added to them are the falls the historical monuments which have enriched the folklore of the country for many years. All these places have potential to generate income especially during the 2010 soccer world cup if well marketed, making big strides towards the achievement of the national vision 2020. Promoting tourism in Lesotho is a sure fire way to social and economic development, and to the attraction of much needed foreign investment. Lesotho is really a wonderland for nature lovers or those who simply appreciate the wonders of nature. It has a real culture, natural history and boundless ecotourism options. Overview of Lesotho as tourist destination â€Å"Kingdom in the sky†, also known as â€Å"Friendly mountain Kingdom†. This popular eco destination is characterized by its remote, rugged mountains and deep valleys, with plummeting waterfalls that form a spectacular frozen stalactite in the winter months. Lesotho is truly idyllic destination. A mere four hours drive from Johannesburg or Durban is a place where the sun shines three hundred days a year. This country has the lowest point that is one thousand meters above sea level and boasts the highest single drop in Southern Africa. It has the highest road pass in Southern Africa at 3275 meters and is one of the few countries in the world that is completely land locked. Lesotho’s two main mountain ranges are the Snow-capped Maloti and Drakensbug ranges. The capital, Maseru, is the only city in Lesotho. However there are also several large towns in each of its ten districts. The ever-friendly Basotho people are eager to share their culture with tourists. The serene simplicity of their highlands life is enviable. This indeed is a country where time stands still. For the people of the world, the natural and cultural features that are of outstanding universal importance and value include the unique mountain wet lands and alpine tundra eco systems, the superlative natural beauty and the distinctive array of both plants and animals. In addition, the natural setting provides a glimpse into a way of life of the San who once lived there, documenting their lives and spirituality in over 40 thousand rock art images in almost 600 sites. Liphofung (place of Clarence) Situated just off the main road from Butha-Buthe to Mokhotlong, Liphofung (place of Clarence), was a stop over for Moshoeshoe I the founder of the Basotho Nation on his way from Menkhoaneng to Thaba-Busiu. The place is now famous for its museum and one of the largest galleries in the world which has the art of the first habitats of Lesotho, the San (Bush men) who lived there over 10 000 years ago. Some of the rock paintings Close by, with a height of 3482m (11 424 ft), is Thabana-Ntlenyana, which literally means ‘Beautiful Little Black Mountain’. It is the highest point in Lesotho and the highest mountain in Africa South of Kilimanjaro. It is found in Mokhotlong district, 15km (approximately 1. 5 hrs. drive) from the top of Sani Pass and it is to the top of Kotisephola Pass, 3250m. It is famous for its unpredictable atmospheric weather, veering from thunderstorms, very low temperatures to scorching suns or siege by mysterious mists which make it more unforgettable. These mountains are best experienced from within Lesotho. Historically it is here in these mountains where Basotho fled from the Zulu King Shaka, in the 19th century. The mountains became their fortress and protection. The route to Thabana-Ntlenyana is filled with formidable twists and turns of the sheer craggy mountains, majestic valleys and cascading streams meandering between the rocks. A combination of all these is a definition of a true scenic beauty giving a sense of remoteness in spring and summer, but a virginal white in winter. There is a friendly highest pub in Africa called Sani Top Chalet at 2874m above sea level. The route to Thabana-Ntlenyana is filled with formidable twists and turns of the sheer craggy mountains, majestic valleys and cascading streams meandering between the rocks. Combination of all these is a definition of a true scenic beauty. The plateau landscape is simply beautiful with awesome vegetation, open yellow plains and a distinct sense of remoteness , more especially during spring and summer seasons, but a virginal white in winter. Visible along the route are small stone build huts ( called Metebo in Sesotho) which are in isolation, deep into the mountains, in which rural Basotho shepherds live while looking after their cattle and sheep. There are many view points where tourists can stop to observe this remarkable beauty. This arduous trek to Thabana-Ntlenyana can be undertaken on a horseback or alternatively a 4WD vehicle. Thabana-Ntlenyana is also preferred for skiing, ice skating and snowboarding during winter season, which is from May to August. Near this mountain are the headwaters of the Tugela and Senqu (Orange) rivers, where fly fishing and water rafting are possible during summer season. Hiking, rock climbing and pony trekking are enjoyed throughout the year. Mornings here are such heart-warming with different kinds of birds with beautiful music to prepare you to the day ahead. It is with no doubt that a day is just not enough for one to be at this place because of the many activities provided here. Among the most interesting activities provided, here is ‘walking’ which really offers an ideal way in which to explore the fascinating archaeological sites found in this area. Afri-Ski The novelty of snow in Africa is best experienced at Afri-Ski which caters for skiing in winter. With a ski slope 3222m above sea level, Afri-Ski is the largest skiing resort in Africa. The skiers are accommodated at the New Oxbow Lodge and self catering Mahlasela Lodge. Trout fishing and water rafting take place in summer in Maliba-Mats`o, a river just a couple kilometers from Oxbow Lodge. Pony Trekking is another activity in summer. Letseng Diamond mine It is not just a diamond mine!. It is the world’s highest altitude mine with 3 kilometres above sea level, experiencing -20 degrees Celsius in winter . It is in this mine where the highest proportions of largest stones of any mine in the world are found. The discoveries states that in 1967 a 601 carat stone was discovered and a 215 carat stone was recovered in 2005. In August 2006, a 603 carat stone was discovered being â€Å"the 15th largest rough diamond ever discovered, and the biggest diamond un covered in this century† . Letseng does not only play a significant role in the economy of Lesotho as a mine but also as a tourist destination as it accommodates tourists who want to have a feel of the ‘Mine in the sky’ as it were. This is enhanced by the close proximity of â€Å"The Khubelu Hot spring. † The hot spring is at close range to Letseng Diamond mine, sharing social backgrounds and other aspects encompassed in Mental, Physical and Spiritual building of a living being. Khatse Dam This centerpiece of the Lesotho Highlands Water Project is a fine piece of engineering. The flooded valleys of the dam extend for 45km and the dam wall is 185m high. This dam is second in size (in Africa) only to the Lake Volta Akosombo Dam in Ghana. The view of this massive dam from Mafika Lisiu Pass is magnificent and is often of great interest to visitors. The centre piece of the whole project is the dam wall which is the highest in Africa. An area of the lake can be devoted to water sports. Thaba Bosiu Thaba-Bosiu is Lesotho’s great national monument. The mystical Thaba Bosiu is a flat-topped hill which was used by Moshoeshoe I as his citadel when establishing the nation. In translation, the name means ‘Mountain of the night’ and it is believed that the enemies of Moshoeshoe could not attack as the hill became a formidable mountain at night but went back to a hill during the day. The substantial remains of the King’s dwellings and villages and the royal cemetery of Lesotho are on top of the hill. Maletsunyane Falls Maletsunyane Falls in Semonkong is one of the highest single-drop falls in Southern Africa plunging 200 meters into a swim able pool whose stunning natural scenery is unspoiled by anything man-made. It is nearly twice as high as Victoria Falls, though not nearly as wide. The falls are very impressive, and can be visited on pony-trekking trails from both Malealea to the West and Molimo Nthuse to the North. Maletsunyane Falls are most spectacular in summer when the flow is highest, but in winter the water freezes, spraying the rocks with ice water. Conclusion Lesotho is indeed in a class of its own in tourism terms and the sensitive exploitation of its endowments can firmly place the country on the world tourism map.

Global Communication Essay

Communication (especially good communication) is called the heart of all business in these modern times where every piece of information is visible to everybody. However when we consider the level of globalization has reached too, we often find organizations facing a difficult time trying to survive in this competitive environment. To ward off this problem, the management of global communications decided to outsource most of their work to India and Ireland so that the unit costs could be decreased. The current problem that has severed the smooth operations of the organization has been brought by the high intensity of competition. The company had to cut down its profits and hence reduce their share value. Unable to match the prices and costs their rivals were giving, Global Communications moved to a head-on fight by planning an outsourcing strategy. This strategy had two facets; 1) it would bring massive downsizing in the company, and 2) expertise and low cost could be achieved with outsourcing. Analyzing the scenario from the companies perspective we get a bring future for the employees of the company in the future and profits which would promote high growth. Although this strategy would help the company regain the market, from another perspective, Global Communications would have to let go of their intellectual assets i. e. their employees who were considered as their competitive point. Another destructive problem for the company is that by not involving the Union leaders into this decision, the image of the company is put on stake while the communication problem due to cultural differences and norms would play a major role in the near future. This situation for the company is not at all good at the moment. Although the outsourcing maneuver was a good decision, its execution wasn’t right thus the company finds itself in deep water. In this crucial time the organization needs to keep its few employees close and organized. The company should bank on their employees who have always been a point of strength for them. Deals and meetings should be held with the Union leaders to help them understand the gravity of the situation and difficult situation the company is in which requires difficult decisions to be taken. Apart from this, the organization should secure a good outsourcing company that understands their problem and truly helps to solve them. With such a plan in motion the future can be made stable and eventually growth can take place. But for the moment, the key lies in strengthening the employee base, connecting with them and make them work as a team. In the employees lie the future of the organization. References 1. Morgan D. Jones (1998) The Thinker’s Toolkit: 14 Powerful Techniques for Problem Solving. Three Rivers Press.

Legalizing Drugs And The United States Essay - 891 Words

Legalizing drugs in the United States would lead to great trouble for the country affecting all citizens. Legalizing drugs will cause chaos among Americans. Edmund Harnett a deputy chief and executive officer wrote an article, â€Å"Drug legalization: why it wouldn’t work in the United States.† Harnett is also involved in the narcotics division of the New York police department. William J. Bennett the director of the national drug control policy wrote a heavy article, â€Å"Drug Policy and the Intellectuals.† James Q. Wilson has a political science degree and is the author of many crime articles including, â€Å"Against the Legalization of Drugs.† Disorder is the last thing this country needs from legalizing drugs. The legalization of drugs is undesirable because it would ruin relationships, would harm the safety of everyone, and would promote violence. Many people in favor of legalization feel that drugs would not have a negative impact of families or other relationships. However, All relationships would be in jeopardy if drugs were legalized. Suffering would be placed on the lives of many family members for their lifetime. Watching a drug addiction is painful and would most likely cause grief between relationships. Drugs create trust issues among friends and family. Drugs promote lying and stealing often times for money to obtain drugs with. Drugs destroy one s character. Drugs take away a person s sense of responsibility and dignity (Bennett 550). When a person’s character isShow MoreRelated Legalizing Recreational Drugs Within the United States Essay4029 Words   |  17 Pagesrecreational drug is defined as any controlled substance used to alter ones mind state or for non-medical purposes, without the permission or supervision of a physician (Recreational Drug). Recreational drugs include both illegal and legal substance s, some of which are extremely prevalent in the United States. The most popular recreational drug in the world is caffeine. Nearly, 80 - 90% of adult Americans consume caffeine every day (Caffeine addiction). Other popular recreational drugs include nicotineRead MoreThe Legalization Of Recreational And Medical Use Of Marijuana1237 Words   |  5 PagesThe legalization of recreational and medical use of marijuana is still a controversial social issue faced by the United States. Although marijuana was seen as a dangerous drug back in the 1900’s, research has revealed the truth about marijuana, making the drug less frightening towards Americans. Now in the year 2015, marijuana is generally more accepted by Americans and many more see marijuana in a positive manner. Although marijuana does have some negative side effects, the side effects are notRead MoreEssay on Legalizing Recreational Marijuana in the United States1131 Words   |  5 PagesThe topic of legalizing recreational marijuana in the United States has been a very controversial one. States such as Colorado and Washington have gone on the offensive and have legalized recreational marijuana and have enjoyed the high revenues brought in from cannabis sale. On the other hand other states have kept low profiles because they are wary of the possible negative outcomes of legalizing recreational marijuana and are using the states of Colorado and Washington as guineaRead MoreIllegal Drug Activity across the Globe1314 Words   |  5 Pagesï » ¿Drugs have become a rising problem for nations across the globe. In Canada, drug use among individuals aged 15 years or older was 11%, demonstrating that an issue does indeed exist (Health Canada). Many of societys worst problems with drugs result from the fact that they are illegal. Like alcohol and tobacco, drugs should be legal in this country. Although this has been a much debated dilemma, I would agree with this statement because of the practic ality that it would entail. Drugs are the sourceRead MoreWhy Marijuana Should Be Legal1085 Words   |  5 PagesDear , Since the 1930s marijuana has been illegal in the United States. The debate to legalize marijuana has been a huge controversy since the existence of the drug. I believe that by legalizing marijuana America will be able to thrive in the future. Marijuana has been tested and proven to provide a very positive impact in the medical field, the economy, and crime. First and foremost, marijuana is legal in some states in the United States but for medical use only and other countries such as CanadaRead MoreThe War on Drugs1580 Words   |  7 PagesThe war on drugs began in the United States in 1971 when President Richard Nixon declared war. President Nixon increased the number of federal drug control agencies, increased mandatory sentences for drug offenders, and utilized no-knock warrants in attempt to get the problem under control. It has been over forty years since President Nixon declared a war on drugs. Did America win the war on drugs? Is it time to legalize illicit drugs in this country? What are other countries doing in referenceRead MoreEssay on Why Marijuana Should Not be Legalized1595 Words   |  7 Pagesas do many political leaders. However, pro-drug advocacy groups, who support the use of illegal drugs, are making headlines. They are influencing decision making thru legislation and having a significant impact on the nation al policy debate here in the United States and in other countries. The National Organization for the Reform of Marijuana Laws (NORML) is the oldest drug user lobby in the U.S. It has strong ties to the Libertarian party, the Drug Policy Foundation, and the American Civil LibertiesRead MoreLegalizing Recreational Pot1507 Words   |  7 PagesEnglish 1B 16 February 2016 Legalizing Recreational Pot Heavy marijuana smokers are at risk for some of the same health effects as cigarette smokers, like bronchitis and other respiratory illnesses. Marijuana is the most commonly abused illegal drug in the United States and around the world. Those who support its legalization, for medical or for recreational use, fail to recognize that the greatest costs of marijuana are not related to its prohibition; they are the costs resulting from marijuanaRead MoreShould Marijuana Be Legalized?887 Words   |  4 Pagesare several illicit drugs such as marijuana, heroin, cocaine that are used in some area in the United States. Those drugs influence people every day of their life. They also affect people whether they are using them, drugs dealer, victims of drugs related crime or dealing with family members’ addiction. On the other hands, the government spends much money for education, medical, technology and recycles. Besides these issues, the government also spends billions of dollars for d rug laws enforcement toRead MoreThe Origns of Marijuana726 Words   |  3 Pagesbegan to use the drug as a fiber. Consequently, cannabis grows throughout tropical and humid parts of the world. The seeds have been used as animal food, fiber for hemp rope and oil as a vehicle for paint (Cannabis, Coca, and Poppy). Therefore, Marijuana should be removed from the criminal justice system. Legalizing and regulation marijuana can bring cash crop under the criminal justice law, bring in jobs, medical use, and overall create economic opportunities to The United States of America. There