The Company Law Review was a missed opportunity to implement a model Essay

The Company Law Review was a missed opportunity to implement a model of the company better adapted to contemporary challenges.Discuss with reference to S.172 of the Companies Act,2006 - Essay Example Auditors were in hand with management and their reports were misrepresenting. Thousands of innocent people have lost their savings and investments. The Department of Trade and Industry (DTI) conceived that businesses in general will benefit from the new measures put forward in the proposals. There will be greater clarity on directors duties to include more attention to the interests of shareholders, but can pay regard to the long as well as the short term, taking due account of the interests of employees, suppliers, consumers and the environment. (Company law reform: UK proposals published, Out-Law News, 18/03/2005, http://www.out-law.com/page-5438, accessed on 10th April, 2009) The duty which is laid down in section 172 substitutes the common law duty of dedication. This duty of the Directors is considered as the duty to act in good faith in the interests of the company. The new duty warrants action towards the success of the company. The promotion should be for the welfare of the members as a collective body: it should not be just for the sake of the shareholders. This duty on the part of the directors is: The Company Law Review considered the following major issues in their proposals restructuring those parts of company law most relevant to small businesses, making it easier for them to understand what they need to do. The main issues are: growths in recognized best practice’ in corporate governance,1 with the outcome that it is now difficult and time consuming for directors to find out precisely what is the law applicable to the companies. In 1998, the then Secretary of State for Trade and Industry determined that there should be an all-inclusive appraisal of company law. The Review was carried on by a Steering Group constituting experts from law, commerce, accountancy and academia, with the support of a generally based Consultative Group, and it brought out its concluding report in July 2001. The Government reacted to the Review Groups propositions

Paradoxically, although modernity appeared to be a threat to Essay

Paradoxically, although modernity appeared to be a threat to Christianity, it had been nurtured, in significant part, by Christ - Essay Example Modernity mainly believes in what it sees and in the current living style only. It is for this reason that modernity is greatly affected by factors such as fashion trends, money, and status. On the other hand, Christianity believes that there is something more to staying alive and surviving in the world (Asad, 2003, 18). Therefore, clearly it appears modernity may be a threat to Christianity (Augustine, Pusey & William, 2011, 32). However, despite these threats caused by modernity, it has been found that it is actually Christianity that has fuelled modernity into place. Through a large number of factors, Christianity has significantly nurtured modernity and caused it to develop in the society. Although modernity has brought about poor moral values that were not there in the traditional world, most of these traits mainly arise from Christianity in a broad sense. In addition, the way in which Christian beliefs are changing with time, they may give rise to modernity (Augustine, Pusey & William, 2011, 33). This is because; modernity is not an original lifestyle. It a living style that has grown from what was originally in the world. Since Christianity has been in place for a longer period than modernity, then it can be argued that modernity picked its traits from Christian ways of life. Modernity tries to ape what was original and thus, the human beings themselves shape it. The fuelling of modernity by Christianity can be clearly observed from the politics practiced in the world today (Berglund, Bruce & Brian, 2010, 11). For a number of years, Christianity had no part to play in politics. Politics have been referred to as a ‘dirty game’ and thus, Christianity believes that leadership only comes from God. This way, Christians would believe that God would choose His own rightful leaders and thus, they would not actively participate in the politics. This subject has been thought as bringing modernity into the world. This is because; with Christianity not participating in the political arena, politics were left in the hands of non-Christians. Consequently, politics were practiced without considering or taking into account, the Christian values written in the Bible or initially practised by the people (Brown, John & Kim, 2008, 15). There being no opposition, modernity took its course and directed the political field. Leaders would come up with modern ways of meeting their objectives and solving any challenges that they faced. In addition, conflict resolution was no longer conducted using the religious laws in the Bible. Instead, modern arms used to fight the enemy were built up and murder was no longer considered a sin. Indeed Christianity can be said to have fuelled modernity into place. This is because; had Christians taken part in the political environment, politics could have been conducted in the right manner without using modern ways of gaining power. In addition, failure of Christian involvement, also led to increased corruptio n among the people (Carter, 2000, 84). Political leaders were now eager to find ways of doing things in a fast and easy way. It is in this way that modernity found its way into the world economy since; major inventions were being made to ease the way of life. Christianity was also not effective in teaching the people the right way of life (Kung, 1980, 74). While people know that they should

Human Nature versus Social Roles and Need for Self-Observation Essay - 2

Human Nature versus Social Roles and Need for Self-Observation - Essay Example High profile women perpetrators have entered the mindset with movies such as Monster chronicling the life of female killer Aileen Wuornos.   And men all over the world still squirm whenever they hear the name Lorena Bobbit.   We’ve witnessed all manners of gender-bending with TV shows including Queer Eye for the Straight Guy, and Queer Eye for the Straight Girl.   Same-sex marriages have challenged the traditional roles of men and women in the home.   Reality TV has taught us that women can be tough and men can be gentle.   Cultural acceptance of these gender-based behaviors has broadened dramatically since 1990.   Yet Tannen’s book You Just Don’t Understand still has something to say to us after all these years.Without a doubt, Tannen wrote her masterpiece from a particular socio-economic perspective with a specific audience in mind.   The text has â€Å"middle-class America† watermarked on every page and no one can argue the fact that the b ook was intended to inform the masses.   Cultural expectations heaped upon children from a young age results in many people sent in pursuit of the â€Å"American dream† with its corresponding gender roles.   Public schools in America segregate boys and girls.   We all know that boys play football and girls are cheerleaders.   Over time we become desensitized to the harsh mechanisms which society employs in order to keep both men and women stuck in their traditional roles.   As Tannen tells us, â€Å"We cannot take a step without taking stances that are prescribed by society and gender-specific. We enact and create our gender, and our inequality, with every move we make.† (283)   People find Tannen’s book refreshing even today because it steps outside the box.   It depicts a wider perspective that helps people to recognize themselves.   Reader’s accomplish the enormous task of shedding the blindfold they’ve been duped into wearing wh en they approach Tannen’s message from the perspective of being a human rather than either male or female.

Water pollution prevention Research Paper Example | Topics and Well Written Essays - 1000 words

Water pollution prevention - Research Paper Example For a sustainable life on planet earth, water is one of the most important indispensable commodity without which survival of human life and all the other life forms is not possible. It affects our economy, health and lifestyle.The major utilization of this resource is in industries such as agriculture, hydroelectric power generation, transportation, industry along with domestic and commercial uses. Major portions of the earth’s surface are covered with water in the form of oceans and ice caps and therefore difficult to recover; however, only 3% of these water bodies (rivers, lakes) constitute fresh water available for human consumption. Also rainwater is a major source of our water supply on earth. Water pollution has become a global environmental issue due to rapid industrialization, population boom, increased economic activities and demand for fresh water has increased manifolds in the past years. Any detrimental variation (physical, chemical or biological) in the state of w ater by contamination of harmful substances is known as water pollution (Goel1). It influences all the water bodies such as lakes, rivers, oceans and ground water. It affects human beings, plants, animals, birds and fish etc. and is responsible for disturbing the natural ecosystem on earth. There are several sources for water contamination however; there are two primary routes through which these contaminants enter surface water, ground water, drinking water and soil/sediment water. (a) Point source pollution. The discharge of distinct pollutant sources directly into water bodies and aquatic systems (USEPA 14). For example: 1. Domestic/Municipal sewage: The waste water generated from household/commercial activities contains organic (food waste) and inorganic waste (nitrates and phosphates) (WWF 2). The amount of organic waste that water bodies can degrade is determined in terms of Biological oxygen demand. BOD is the amount of oxygen required by the microorganisms to decompose organ ic matter and thus the higher amount of BOD in a water body signifies that it is polluted with organic waste. However, inorganic wastes produced largely by soaps and detergents are non-degradable and upon entering the water bodies causes serious implications on ecosystem. 2. Industrial effluents: Waste water containing organic pollutants and toxic chemicals (lead, mercury, nitrates and phosphates) from manufacturing and processing industries causes water pollution. Also, disposal of solid and gaseous wastes from nuclear and thermal power plants are a source of water pollution (Agarwal 37). 3. Agriculture: Agricultural wastes include manure, slurries and run off. Manure being rich in nitrates and phosphates seeps in the sediments/ground water causing water pollution. 4. Atmospheric gases: As a result of industrial gaseous emissions and automobile exhaust the concentration of dissolved gases such as nitrogen, oxygen, sulphur dioxide, ammonia and carbon dioxide is increased sufficientl y in atmosphere. Subsequently, the water in close proximity to these polluted areas becomes concentrated with these gases resulting in water pollution (Agarwal 39). (b) Non-point source pollution (NPS): Contaminants entering indirectly into water bodies through ground/soil water or atmosphere through rain comprise of NPS. These include gaseous emissions from factories, automobiles, agricultural run-off etc. (USEPA 13). Agricultural NPS is the leading source of water quality degradation and is majorly caused by runoff soils carrying fertilizers, growth hormone residue, pesticides and heavy metals etc. Other sources of water pollution include spillage of oil and harmful substances in water bodies, atmospheric deposition, marine dumping, radioactive wastes and global warming. All of these have devastating and extensive damage effects on aquatic life (Agarwal 37). Harmful effects of water pollution are: 1. Source of contaminants/pathogens to human beings: According to UN world water Ass essment Program, around 2.3

Islamic Pottery Essay Example for Free

Islamic Pottery Essay Medieval Islamic pottery occupied a geographical position between Chinese ceramics and the pottery of the Byzantine Empire and Europe. For most of the period it can fairly be said to have been between the two in terms of aesthetic achievement and influence as well, borrowing from China and exporting to and influencing Byzantium and Europe. The use of drinking and eating vessels in gold and silver, the ideal in ancient Rome and Persia as well as medieval Christian societies, is prohibited by the Hadiths, with the result that pottery and glass were used for tableware by Muslim elites, as pottery (but less often glass) also was in China, but was much rarer in Europe and Byzantium. Islamic restrictions In the same way Islamic restrictions greatly discouraged figurative wall-painting, encouraging the architectural use of schemes of decorative tiles, which are the most distinctive and original speciality of Islamic ceramics. Era of Islamic Pottery The era of Islamic pottery started around 622. From 633, Muslims armies moved rapidly towards Persia, Byzantium, Mesopotimia, Anatolia, Egypt and later Andalusia. Early History of Islamic Pottery The early history of Islamic pottery remains somewhat obscure and speculative as little evidence has survived. Apart from tiles which escaped destruction due to their use in architectural decoration of buildings and mosques, much early medieval pottery vanished. The Muslim world inherited significant pottery industries in Mesopotamia, Persia, Egypt, North Africa (African Red Slip) and later other regions. Early Medieval (622-1200) A distinct Muslim style in pottery was not firmly established until the 9th century in Iraq (formerly Mesopotamia), Syria and Persia. During this period pieces mainly used white tin-glaze. Information on earlier periods is very limited. This is largely due to the lack of surviving specimens in good condition which also limits the interest in the study of ceramics of these periods. The most highly regarded technique of this centre is the use of calligraphy in the decoration of vessels. Chinese influence on Islamic Pottery During the Abbasid dynasty pottery production gained momentum, largely using tin glazes mostly in the form of opaque white glaze. Some historians, such as Arthur Lane, attribute the rise of such industry to Chinese influence. Three main phases According to Lane, the influence of Chinese pottery progressed in three main phases.  ·The first contact with China took place in 751 when the Arabs defeated the Chinese at the Battle of Talas. It has been argued that imprisoned Chinese potters and paper makers could have taught the Muslims the art of pottery and paper-making. In 800’s Chinese stoneware and porcelain reached the Abbasids.  ·The second phase took place in the twelfth and thirteenth centuries, a period noted for the decline of pottery industry following the fall of the Seljuk dynasty. This period also saw the invasion of the Mongols who brought Chinese pottery traditions.  ·The third phase was in the fifteenth century, when much of this influence came through imports made from Tang, Song and Ming dynasties at the hand of Zheng He. Islamic innovations From between the eighth and eighteenth centuries, the use of glazed ceramics was prevalent in Islamic art, usually assuming the form of elaborate pottery. Tin-opacifiedglazing, for the production of tin-glazed pottery, was one of the earliest new technologies developed by the Islamic potters. Middle (1200–1400) By this period the distinctive Islamic tradition of decorated wall tiles had emerged, and continued to develop together with vessel pottery in a way unique to Islamic art. The Seljuks brought new and fresh inspiration to the Muslim world, attracting artists, craftsmen and potters from all regions including Egypt. In addition to continuing the production of similar (although more refined) tin and lustre glaze ceramics, the Seljuks (in Persia) were credited for the introduction of a new type sometimes known as Faience. This is made from a hard white frit paste coated with transparent alkaline glaze. Examples of Islamic Period Pottery  ·Glazed pottery  ·Unglazed pottery Glazed pottery Glazed pottery is typical for the Islamic Period in Egypt, but there is evidence that is was already introduced in the Byzantine Period (Engeman 1990). In contrast to Faience and the glazed materials of the Pharaonic period, true glass was used as glazing. Colours were produced by adding metallic oxides. When transparent it could be applied over paintings. Unglazed pottery  ·Water jugs had often filters built into the neck for keeping out the flies. Especially the examples from Egypt are produced with great delicacy.  ·Most of the pottery of daily use produced in the Islamic period (including down to today) is unglazed.  ·Vessels of uncertain function, with compact fabric: suggestions for use vary from military projectiles to storage of vintage wine.

river island

river island Biography River Island was introduced by Bernard Lewis in 1948, a family business and it started out as a small shop in Londonwith the trading name of Lewis Separates. There have been many changes to the brand name such as Chelsea girl and Concept Man and not until 1989 its officially became known as RiverIsland today. Between the period of twenty years, from the 1960s to 1980s, Chelsea Girl was a well known high street store and was famous for its long haired girl logo. A group of approximately 45 students from Uxbridge and Middlesex has teamed together with the store to regain its reputation in the name of Chelsea Girl. River Island could considered to be one of the UKs biggest and most successful privately owned high street companies with over 250 stores operating all over the world and is still growing. Moreover, to ensure theirs customer a great, unique and fashionable look, unlike New Look and others high street stores which buy others brand design then altered it, River Island has their own in-house designer. River Island always focus on providing their customer the hottest look, hence, they also concentrate on providing their employees with a good working environment so that they can work efficiently and at their best. River Island stores across the country are always similar in both decoration and layout. In recent years, River Island has changed all of their stores to have a unique and similar layout. The general colour schemes are usually white walls with some emphasis of bright green to create a fresh feeling; the flooring is laid with creamy coffee coloured tiles with black paneling. Bri ght spot lights have also been used to create a posh look. In order to help the customer to feel comfortable and relaxed the stores have been designed to have an open air space which is simple but act as an effective background helping the clothes stand out and also enabling the customer to find their clothes. The layout of River Island is known to be like a walk-in boutique where you have trends that are divided into sections in the shop, which helps customers to know what theyre looking for, i.e. casual, smart or going out. Style River Island is a UKs leading high street brand, providing a big range of stylish clothes, but most importantly, their prices are affordable and the quality is great. River Island design clothes for both men and women at the age range from 16-30. With 250 stores and selling many different types of clothing like jeans, skirts, knit wear, jacket etc†¦ or even accessories such as jewelry or shoes. To â€Å"Get the most out of it† the company also provides online shopping so that it is more convenient for their customers. The design team represents the culture thats around them and thats the culture our customers understand, says Richard Bradbury, River Islands managing director. This year, the brand have reported mega profits, as mentioning this, River Island will have to thank their young team of designers, buyers and in-house stylists. The company‘s general theme for clothes line is usually smart looking, quite often the customer will see that there is a combination between smart-casual. Additional glitter, sequins, diamonds and jewels appear on all types of clothes to add a bit of bling and to meet with the young fashion trend. Moreover, these decorations also appear on purses or handbags so that they are all are matching. One of the company philosophies is focusing on finding new talent and bringing them up to contribute to the new high street trend, collection after collection is required to meet with demand of customers who searching for the new look everyday. In order to do that, every two weeks, Style Challenge is launched by one of our insiders. The themes will be different each time to make sure theres something for everyone. Youthful could consider being the inspiration for each design, but still could suit any age range as long as they are the person who is seeking a celebrity or catwalk style at a cheaper price. River Island always concentrated on the style and the quality. The company clothes are so trendy, chic, young, affordable and of a very high quality. Not only the clothes, but also the stores provide an exciting and fun environment to shop within. The average price of each garment is affordable: Ethical issue RiverIslandis committed to providing a fair deal between the company and their employees. The company has understood that to make an excellent business, it has to build strong relationship with its suppliers, consumers and employees. Corporate Social Responsibility has always been the companys strategy. Ethical Supply Chain At River Island, it works enthusiastically with its suppliers and official agencies around the world to provide a standard health and safety regulation to its employees. The company always ensures that their suppliers sign a contract which commit to World Wide Ethical standards and those who violate them will be prosecuted. To support this policy, the company have ordered the buying and technical teams to visit their factories throughout the year and actively engage in looking out for mistakes, hence, improve it. Today, River Island products are made across the world such as in the European Union, Turkey or India. Although there are many ethical and trading issues happening within fashion industry, River Island believes that through gradual changes, it will manage to solve the problem. According to source, â€Å"In June 2008 RiverIsland became a member of the Ethical Trading Initiative (ETI). Established in 1998 the ETI is a trade union organization and non-governmental organisations committed to working together to identify and promote good practice in the implementation of codes of labour practice.† River Island committed to the adoption and integration of the ETI Base Code into our World Wide Ethical Policy through its supply chain. River Island believes that to be one a ETI member, the company will be able to gain more experience to tackle the related issues within the industry. Environment: Nowadays, being green is one of the main focuss of each individual company. In order to protect the environment, River Island is strictly committed to a number of main key points targeted such as : reducing problems the environment is having, this includes dropping levels of energy consumption (including the use of renewable energy sources) reducing the level of product packaging, increasing the levels of recycling and increasing the use of biodegradable materials. The retail environment of River Island is very edgy, lively and vivid. The staff are committed to provide the customer a high quality service. River Island also believes that making the customer feel happy is its first priority, as customer service is converted into sales in retail. Promotion In recent years, River Island has gained many important titles from its competitor. Top shop has been at the top for years but slowly losing its â€Å"style crown† losing its best shop on the high street title of three years to rival River Island. River Island also won in the best bags and best place to spend GBP50 categories in the Company Magazine. The winners were chosen by more than 6000 people trough the voting system on the â€Å"company.co.uk† website. River Island advertises itself in magazines for having garments, accessories or products that are copied from celebrities or the catwalk. In order to advertise and campaign, River Island has joined forces with Look in autumn 2007 the UKs first glossy high street fashion weekly magazine- to celebrate and introduce its autumn collection .The collection has been styled and photographed by the Look fashion team. More interestingly, River Islands store windows nationwide have also been specially designed by Look to make a connection between the company and the magazine to promote different aspects of the collection. Look publishing director Julie Lavington comments: We are extremely excited to be working with River Island on such a major project. The collaboration exemplifies our brand credentials, and its great that River Island are harnessing the power of Looks reputation as the authority on high street fashion. After all, were driving hundreds of thousands of women in-store every week !† .In order to expand its market sale, River Island has also launched an online marketing with NME.com (a music brand ). In addition, River Island have celebrities such as Pixie Lot and JLS to model its garments which brings fans to shop in River Island. Together with the advertising campaigns, River Island also sponsors Graduate Fashion Week which brings advertising all over the world, for designers and students who would love to start a career in the fashion industry. Fashion Weeks with new designs and colours, serve additionally to promote new concepts. These Fashion Weeks not only display an array of new products, but also serve to communicate with the audience visually. Dresses and accessories worn by models doing catwalks, are more lively and enthralling than the mere display on mannequins. Normally with a range of Fall, Spring, Summer and Winter collection, Fashion Weeks boost market demand and promote its associated businesses as well. In addition, presence in graduate fashion week is the opportunity for their company to have a review from other people who have visited the show. It gives peopl e an idea to what River Island has to offer as a fashion retail store and how they are incorporating designs from students into their clothing range. River Island was one of the retailers which has joined in High street fashion week to show its line up. The event was taking place on Londons Oxford Street from September 7 to September 11. This is a great opportunity to promote the company image. River Island satisfies its customers with trend, quality, design and durability. That is one reason that River Island is, day by day, getting support and demands by its customers. It provides a range of comfortable draper footwear to soothe aching feet of all day long. River Island won the Draper Footwear Award in 2008 while another proof of its excellence emerged when this brand bagged ‘LK Today Fashion High Street Fashion Award for Best Denim. Fashion is not only a phenomenon for luxurious life, but this concept deals with humanity as well. That is why, modern fashion companies are aware for the fact of supporting special people of society with special needs. River Island is responsive towards special people and that is why it supports BDF (Birth Defect Foundation), now known as New Life Foundation Other than the BDF, River Island also helps Heart and Design; an association that combines creativity of fashion communities with heart and lungs treatment. Fashion is not only for healthy people, but it also helps to make ailing people healthy, it supports them in fighting for health. River Island is a well know high street brand that has over 50 years experience on fashion retail, it provides a big range of stylish clothes but most importantly its price are affordable and its products are good quality. The company satisfies its customers with trend, quality, design, global, human, culture and society friendly. At one end it emphasises collective psychology and trends of a society, and at the other end, it deals with the individual needs of customer care. Healthy trends, balanced life, and busy lifestyle are, what the modern fashion companies have to consider deeply. It is no more a matter of looking good and attractive, true fashion and accessories join comfort and trend together.

History of the Microwave Oven

History of the Microwave Oven A Brief History of the Microwave Oven Like many of todays great inventions, the microwave oven was a by-product of another technology. It was during a radar-related research project around 1946 that Dr. Percy Spencer, a self-taught engineer with the Raytheon Corporation, noticed something very unusual. He was testing a new vacuum tube called a magnetron, when he discovered that the candy bar in his pocket had melted. This intrigued Dr. Spencer, so he tried another experiment. This time he placed some popcorn kernels near the tube and, perhaps standing a little farther away, he watched with an inventive sparkle in his eye as the popcorn sputtered, cracked and popped all over his lab. The next morning, Scientist Spencer decided to put the magnetron tube near an egg. Spencer was joined by a curious colleague, and they both watched as the egg began to tremor and quake. The rapid temperature rise within the egg was causing tremendous internal pressure. Evidently the curious colleague moved in for a closer look just as the egg exploded and splattered hot yolk all over his amazed face. The face of Spencer lit up with a logical scientific conclusion: the melted candy bar, the popcorn, and now the exploding egg, were all attributable to exposure to low-density microwave energy. Thus, if an egg can be cooked that quickly, why not other foods? Experimentation began Dr. Spencer fashioned a metal box with an opening into which he fed microwave power. The energy entering the box was unable to escape, thereby creating a higher density electromagnetic field. When food was placed in the box and microwave energy fed in, the temperature of the food rose very rapidly. Dr. Spencer had invented what was to revolutionize cooking, and form the basis of a multimillion dollar industry, the microwave oven. A Bit of Trivia: The Speedie Weenie Project In the spring of 1946, Percy Spencer and an associate, P.R. Hanson (Roly Hanson), were working on a secret project they called the Speedy Weenie. Muriel Withrow remembers the project well. She recalls, The Speedy Weenie Project was the nickname Mr. Spencer and my boss, Roly Hanson, gave to their secret project, the microwave [oven] Speedie Weenie meaning a quick hot dog!' (Our thanks to Mrs. Withrow for sharing this little known detail) Click HERE: 1958 Issue of Readers Digest article about Dr. Percy Spencer Click HERE: Wikiverse A World of Knowledge. Article about Percy Spencer with additional links. Nearly 6 Feet Tall, Weighing 750 Pounds Engineers went to work on Spencers hot new idea, developing and refining it for practical use. By late 1946, the Raytheon Company had filed a patent proposing that microwaves be used to cook food. An oven that heated food using microwave energy was then placed in a Boston restaurant for testing. At last, in 1947, the first commercial microwave oven hit the market. These primitive units where gigantic and enormously expensive, standing 5 1/2 feet tall, weighing over 750 pounds, and costing about $5000 each. The magnetron tube had to be water-cooled, so plumbing installations were also required. Initial Reactions Were Unfavorable Not surprisingly, many were highly reluctant about these first units, and so they found only limited acceptance. Initial sales were disappointingbut not for long. Further improvements and refinements soon produced a more reliable and lightweight oven that was not only less expensive, but, with the development of a new air-cooled magnetron, there was no longer any need for a plumber. The microwave oven had reached a new level of acceptance, particularly with regard to certain industrial applications. By having a microwave oven available, restaurants and vending companies could now keep products refrigerator-fresh up to the point of service, then heat to order. The result? Fresher food, less waste, and money saved. New and Unusual Applications As the food industry began to recognize the potential and versatility of the microwave oven, its usefulness was put to new tests. Industries began using microwaves to dry potato chips and roast coffee beans and peanuts. Meats could be defrosted, precooked and tempered. Even the shucking of oysters was made easier by microwaves. Other industries found the diverse applications of microwave heating quite advantageous. In time, microwaves were being used to dry cork, ceramics, paper, leather, tobacco, textiles, pencils, flowers, wet books and match heads. The microwave oven had become a necessity in the commercial market and the possibilities seemed endless. The First Radarange In 1947, Raytheon demonstrated the worlds first microwave oven and called it a Radarange, the winning name in an employee contest. Housed in refrigerator-sized cabinets, the first microwave ovens cost between $2,000 and $3,000. Sometime between 1952-55, Tappan introduced the first home model priced at $1295. In 1965 Raytheon acquired Amana Refrigeration. Two years later, the first countertop, domestic oven was introduced. It was a 100-volt microwave oven, which cost just under $500 and was smaller, safer and more reliable than previous models. By 1975 Sales of Microwave Ovens Exceeded that of Gas Ranges Technological advances and further developments led to a microwave oven that was polished and priced for the consumer kitchen. However, there were many myths and fears surrounding these mysterious new electronic radar ranges. By the seventies, more and more people were finding the benefits of microwave cooking to outweigh the possible risks, and none of them were dying of radiation poisoning, going blind, sterile, or becoming impotent (at least not from using microwave ovens). As fears faded, a swelling wave of acceptance began filtering into the kitchens of America and other countries. Myths were melting away, and doubt was turning into demand. By 1975, sales of microwave ovens would, for the first time, exceed that of gas ranges. The following year, a reported 17% of all homes in Japan were doing their cooking by microwaves, compared with 4% of the homes in the United States the same year. Before long, though, microwave ovens were adorning the kitchens in over nine million homes, or about 14%, of all the homes in the United States. In 1976, the microwave oven became a more commonly owned kitchen appliance than the dishwasher, reaching nearly 60%, or about 52 million U.S. households. Americas cooking habits were being drastically changed by the time and energy-saving convenience of the microwave oven. Once considered a luxury, the microwave oven had developed into a practical necessity for a fast-paced world. An expanding market has produced a style to suit every taste; a size, shape, and color to fit any kitchen, and a price to please almost every pocketbook. Options and features, such as the addition of convection heat, probe and sensor cooking, meet the needs of virtually every cooking, heating or drying application. Today, the magic of microwave cooking has radiated around the globe, becoming an international phenomenon. Inventor Spencer Doctor Spencer continued at Raytheon as a senior consultant until he died at the age of 76. At the time of his death, Dr. Spencer held 150 patents and was considered one of the worlds leading experts in the field of microwave energy, despite his lack of a high school education. On September 18, 1999, Dr. Percy LaBaron Spencer was inducted into the National Inventors Hall of Fame and took his place in history alongside such great inventors as Thomas Edison, the Wright Brothers and George Washington Carver. History of the Microwave Oven History of the Microwave Oven Have you ever imagined your life without a microwave oven? To begin with, the word microwave is originated from the Greek word ‘micros, which means small and refers to high frequency radio waves, the shortest waves of the electromagnetic spectrum (ideafinder, 2009). Furthermore, it can be said that microwaves work by heating up water molecules in the food and this saves time from cooking since it is a relatively fast method of cooking compared to others (history, 2009). It all began in 1946, during World War II while a research related to radars was carried out. Dr. Percy Spencer, commonly known as an electronics genius (ideafinder, 2009), was working at that time in one of his experiment laboratories at Raytheon Company. He then realised that something strange had happened. While experimenting on a magnetron, vacuum tube, a chocolate bar situated in his pocked melted and intrigued him. Dr. Spencer did not hesitate and carried out a second experiment to identify the cause of that outcome by placing some popcorn kennels next to the magnetron and as a result the popcorn eventually popped and was thrown all over his lab. Fascinated by this outcome, the next morning Dr. Spencer carried out a further experiment using an egg which exploded from the microwaves radiation and as a result burned his workmates face. At that point the brilliant idea of why not using microwaves to cook food faster came to Dr. Spencers mind. Having made his observations Dr. Spencer designed a metal box, where by using microwaves that could not escape the box, food could be cooked in it quickly. As a result, Spencer and Raytheon during the last months of 1946 manufactured the microwave oven, which was mainly used in restaurants, ocean liners and in the coaches of the trains. By 1947 the invention launched in the market after the name ‘Radarange and it must be noticed that microwave ovens are considered as by-products of another technology, since their invention resulted from the research of another technology, the radars. However, ‘Radarange was huge, weighted 750 pounds, cost around $5000 and had to be cooled down using water after each use which required further costs and acted as a disincentive to consumers. After having made several modifications to the product, the first commercial microwave ‘1161 Radarange launched in the market in 1954 and cost $1295 and its power was 1600 Watts making it enormous and expensive again. This products consumers were restaurants and specific institutions. Later on in 1967 a turning point in the microwave ovens history was made after Amana, a division of Raytheon designed the domestic microwave oven appliance. It cost about $500 and was smaller in size. As years passed by the demand for microwaves increased and in 1975 sales of microwave ovens overcame the sales of gas ranges. As reported 17% of Japanese homes used microwaves as well as 4% of US households. However in 1976, microwave ovens usage rose to 60% in United States (gallawa, 2009). The innovatio n process of microwave ovens resulted from consumers preferences (lecture notes2, 2009). The demand of microwave ovens kept rising and its price kept falling generating competition since even more companies were entering the market. However, Nelson and Winter (1982) support, that technical modification is a guidance to human advancement but can bring about negative externalities as well, influencing the stakeholders. Some believed that microwave ovens would have adverse effects on peoples health but consumers realised that microwave ovens could help them in their everyday life cooking without doing any harm to them since there were no signs of radioactivity (gallawa, 2009). It can be said that it is a result of lateral thinking due to the fact that it eliminates criticisms and disbeliefs of stakeholders (Lecture Notes 2, 2009). As a result of combining several ideas microwave ovens took several forms in order to reflect consumers taste and needs. This means that the manufacturers ac t as business men and target several markets trying to differentiate their products in order to be unique and gain large amounts of profits. An entrepreneur is ‘the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits (Richard Cantillon, 1755, Lecture Notes 1). In this case Dr. Spencer in collaboration with Raytheon, are considered as entrepreneurs since they made the first microwave oven and launched it in the market with the purpose of making profits. According to Joseph Schumpeter ‘Whatever the type, someone is an entrepreneur only when he actually carries out new combinations, and losses that character as soon as he has built up his business'(1934, Lecture Notes 2). This exemplifies that Dr. Spencer was an entrepreneur while experimenting on the metal box in order to manufacture a microwave oven but lost this character when his product got in the market. Additionally, the innovation of this product according to Schumpeters crucial distinction is a discrete change, since this innovation transformed unexpectedly in the market and no existing technology related to it. Some can argue that previous oven versions can be compared to it but the technology used while manufacturing the microwave oven is way much different since it involves microwave waves, which automatically detach it from being similar to any typical oven. Moreover, no signs of previous research concerning the product existed in the market and microwave oven reflected the customers choice. ‘Radarage had nothing similar to it in the market, and therefore predictions about the products success couldnt be made. Dr. Spencer and Raytheon were taking a risk, which was later proven to be a total failure. Improvements to the microwave oven and modifications that occurred later on resulted to gradual changes in innovation. Being closely related to previous editions of the produ ct it then reflected customers choice and remained in the market (Lecture Notes 2, 2009). Freeman (1984) explains stakeholders as ‘any group or individual who can affect or is affected by the achievement of the firms objectives and stakeholders can either be primary, those who have an immediate effect on the company or secondary, those who do not affect the company but can control it through primary ones. A stakeholder analysis would help while promoting the appliance and responding to the risks arising from this product being in the market. Will everybody be affected? All affected parties should be identified and considered and it must be stated how the product will affect their daily routine as well as if any legal issues might arise regarding the patent of the invention. Then, uncertainty would be reduced if all factors are considered fairly, since risks would be obvious and profits could be determined. Eventually, launch strategies would be designed like improving the current appliance and promoting it in the market by using the most suitable method (Lecture Not es 2, 2009). Nevertheless, the microwave oven plays a gigantic role on societys welfare. From the point in time when Dr. Spencer was experimenting on the magnetron and found out about the melt chocolate bar in his pocket until the conclusion was made stating that microwaves can be used to cook food, innovation started and it was defined. Then as a generating solution, Dr. Spencer through brainstorming and lateral thinking started the design of the new appliance. Afterwards, by combining several ideas he reached the ideal theory for the production of the microwave oven. Additionally, Raytheon Company helped Dr. Spencer with his idea and created the fist microwave oven to be launched in the market and this is described as selecting the optimal solution. Finally, after the construction of the microwave oven, one of the most crucial parts of the innovation process was done, that was to persuade the consumers that by investing in the product, they would get a benefit, and also persuade the company tha t microwave oven would generate profits. Abernathy and Clark (1985) and Martin (1994) highlighted the significance of the new market knowledge. The inventors of the microwave oven should have done enough research about producing exactly what the stakeholders would want and target those specific markets in order to succeed with their product, as it was later done when Amana designed the domestic microwave oven that was practical enough, small and affordable by households. Also, different markets have been approached since microwave oven is used for drying leather, paper and cork. Clarkson (1995) argues that stakeholders are of several ‘interests, claims or rights, proving again that research should be done. If it wasnt for the radical microwave oven, cooking nowadays would have taken more time. It improved peoples lives and it can be found in almost all households and where other kitchen appliances are situated since it is easy and safe to use. It is expected that gradual change will still be observed and that more advanced versions will be launched in the market in the near future just to meet peoples needs.