Dick Spencer Case Essay Example for Free

Dick Spencer Case Essay Spencer was a plant manager of Modrow Company, a Canadian Branch of the Tri-American Corporation. Tri-American was a major producer of primary aluminum with integrated operations ranging from mining of bauxite through the processing to fabrication of aluminum into variety of products. The company had also made and sold refractories and industrial chemicals. The parent company had wholly owned subsidiaries in five separate United States locations and had foreign affiliates in fifteen different countries. Tri-American employed approximately 22,000 employees in the total organization. The company was governed by a board of directors. The board set general policy, which was then interpreted and applied by the various plant managers. This decentralization in organizational structure increased the freedom and authority of the plant managers, but increase the pressure for profitability. Spencer started his career in Tri-American Corporation as salesman and he succeeded. After two years of successful work as salesman, he became the symbol of what salesman have to be. In his career in Tri-American, he had worked as salesman, troubleshooter, assistant plant manager in English branch in London UK, plant manager in Birmingham in UK and his last position was plant manager of Modrow company in Canada. It was another challenging position in his career and he had faced few problems regarding to management, organization culture, organization conflict and organization innovation. †¢ Spencer was a plant manager of Modrow Company, a Canadian Branch of the Tri-American Corporation. †¢ Tri-American was a major producer of primary aluminum with integrated operations ranging from the mining of bauxite through the processing to fabrication of aluminum into a variety of products. The company had also made and sold refractories and industrial chemicals. The parent company had wholly owned subsidiaries in five separated US locations and had foreign affiliates in 15 different countries. Tri-American employed approximately 22,000 employees in the total organization. The company was governed by a board of directors, which included chairman, vice chairman, president and 12 vice presidents. Subsidiaries and branches are organized as independent companies and decisions are decentralized. †¢ The Modrow Branch was located in a border town in Canada. The total work force in Modrow was 1,000. This Canadian subsidiary was primarily a fabricating unit. Its main products were foil and building products such as roofing and siding. Problem: 1. Resistance to change by employees, this problem shows when Dick as the plant manager asked the worker why he was using the saw when the material could easily be bent fifted into the barrels, resulting in saving time and equipment. And then the worker said â€Å"We’ve never done it that way, sir. We’ve always cut it†. After all the power saw are removed from the scalp area in order to adjust new method of bending rather than cutting. A few day later Dick find out that workmen using hand shears to cut each strip to cut. 2. Process of Production Problems. In his new position as Plant Manager at Modrow, he found that construction was slower in completion than originally planned; equipment arrived before the building was finished, employees were upset about the extent of change expected in their work routines with the installation of additional machinery, and in general morale was at low ebb. 3. Culture Change Problem; there is the difference between American and British philosophy and performance within the plant. Here, he also found that his power and authority were less than those of his superiors, so he constantly found himself in the position of having to soft pedal or withhold suggestions that he would have liked to make, or innovations that he would have liked to introduce. After a frustrating year and a half, Dick was suddenly made plant manager of an old British company which had just been purchased by Tri-American. He left his first English assignments with mixed and moved from London to Birmingham. In Birmingham, he become a plant manager and operated much as he had in his troubleshooting job for the first couple of years of his change from sales to administration. He did some changes in Birmingham. Training and reduction programs were instituted for all supervisors and managers who survive the initial purge. He tried to focus/ control on relationship between production and the needs from sales by simplifying and redesign in order to increase profit. Later the company showed a small profit for the first time in many years. For this successfulness, then he requested transferred back to United States. 4. Cost Reduction Problem, by the end of his first year at Modrow, the building program had been completed, although behind schedule, the new equipment had been installed, and some revamping of cost procedures had been incorporated. But, the financial picture at this time showed as a loss. Later, all managers of the various divisions had worked closely with their supervisors and accountants in planning the budget for the following year. 5. Human Relations/ Interaction Problems When he worked through his first year as plant manager, Dick developed the habit of strolling around the organization. He was apt to leave his office and appear anywhere on the plant floor, in the design office and at the plant cafeteria rather than in the executive dining room, or wherever there was activity concerned with Modrow. At first his presence disturbed those who noted him coming and going, but later, the workers came to accept his presence and continue their usual activities. Supervisors, managers, and foreman, however, did not feel as comfortable when they saw him in the area. 6. Different corporate culture in Canada, even though Canada is located in same geopolitical areas, geographically and nationally Canada is different country and corporate culture is bit different from USA. And Dick Spencer is American manager who started his career in USA. As we can see from the case, Dick Spencer is basically very stunning to adapt different corporate culture in different countries such as UK and Canada plant career. We can see it from this sentence: ‘†¦ In recalling his first year at Modrow, Dick had felt constantly pressured and badgered. He always sensed that the Canadians he worked with resented his presence since he has brought in over the heads of the operating staff’. At the same time he felt this subtle resistance from his Canadian work force†¦Ã¢â‚¬â„¢. 7. Organization conflict in Modrow plant, there was an obvious conflict between workers and Dick Spencer. We can see it from this sentence: ‘†¦ In recalling his first year at Modrow, Dick had felt constantly pressured and badgered. He always sensed that the Canadians he worked with resented his presence since he has brought in over the heads of the operating staff †¦Ã¢â‚¬â„¢. In the other words, other workers couldn’t live up with Dick’s arrival in the company. 8. Corporate innovation management, at the time of Dick Spencer’s arrival in the Modrow Branch, there was a lack of good corporate innovation management. We can see it from this sentence: ‘†¦ Prior to Dick’s appointment as plant manager at Modrow, extensive plans for plant expansion and improvement had been approved and started. Altough he had not been in on the original discussions and plans, he inherited all the problems that accompany large-scale changes in any organization. Construction was slower in completion than originally planned, equipment arrived before the building was finished, employees were upset about the extent of change expected in their work routines with installation of additional machinery, and, in general, morale was a low ebb†¦Ã¢â‚¬â„¢ 9. Decentralization, basically this is American organization type and American one is more formalistic than European. Decentralization is basically increase the pressure from parent company management. We can see it from this sentence: ‘†¦ This decentralization in organizational structure increased the freedom and authority of the plant managers, but increased the pressure for profitability†¦Ã¢â‚¬â„¢ 10. Lack of leadership for Dick Spencer, in terms of organization leader Dick Spencer shouldn’t include the all the works in the organization. He tried to do it by himself every single things and he aimed to attend every action. In terms of HRM, this is not good character for the good Leader. We can see it from this sentence: ‘†¦ As he worked through his first year as plant manager, Dick developed the habit of strolling around the organization†¦Ã¢â‚¬â„¢. This created the conflict between him and workers. Also this creates dis-approvement from workers. We can see it from this sentence: ‘†¦Supervisors, managers and foreman, however didn’t feel as comfortable when they saw him in the area†¦Ã¢â‚¬â„¢ 11. Lack of knowledge in Human resource and accounting knowledge, these two courses were disadvantage for Dick Spencer in this study in MBA and these two are very important for any organization. In the other way, he can find and hire someone who can do his unknowledgeable fields such as accounting and HR. 12. Too high expectation from management made pressure, we can see it from this sentence: ‘†¦he believed that the president and his friends in the home office were constantly on the alert, waiting for Dick to prove himself or fail flat on his face†¦

Auditor Preliminary Analytical Procedure

Auditor Preliminary Analytical Procedure Auditors are required to prepare the preliminary analytical procedure at the planning as a part of the risk-assessment procedures under ASA 315.6. The definition of preliminary analytical procedure is that comparison of client rations to industry or competitor benchmarks provides an indication of the companys performance. The purpose of preliminary analytical procedure is to obtain understanding of the clients company and industry. (textbook) In common, two major stages, simple comparisons and ration analysis, are used by auditors during analytical procedure; however ration analysis is a better understanding of the entity. Based on the data from question 6.33, the analysis procedure is allocated in two major stages. (textbook) Simple comparisons. Simple comparison is to compare amounts between the 2009 financial statements and 2010 financial statements of Gourmet Pty Ltd. The net profit increases from $56 240 000 in 2009 to $63 562 000 in 2010, the increasing amounts are up to $7 3220 000. The total shareholders equity increases from $141 300 000 in 2009 to $204 862 000 in 2010, the increasing amounts are up to $63 562 000. The performance of company is better from 2009 to 2010 in respect of above data, because company owns a steady and experienced management team; attempts to extend the range of products in order to enhance competition of industry and depends on appropriate strategy to acquire other smaller competitors. The simple comparison is a general analysis, however, auditor need to use ratio analysis in order to obtaining the specific data. Ratio analysis Based on 6.33, following ratios could be calculated for analysis. The current ratio is 0.195 in 2009 and 0.280 in 2010. These two ratios are less than the better benchmark 2, even are lower than positive current ratio 1.5 as well. The quick asset ratio is 0.070 in 2009 and 0.096 in 2010. The gross profit ratio is 0.481 in 2009 and 0.463 in 2010. The net profit ratio is 0.183 in 2009 and 0.193 in 2010. The debt to equity ration is 7.30 (a) The inherent risk is the susceptibility of an account balance, class of transactions or disclosure to material misstatement given inherent and environmental characteristics, but without regard to internal control. (textbook) Based on the background information from 6.33, following factors could impact the inherent risk: A new finance director has joined in the company. The change of important management position would increase inherent risk. At the same time, the new finance director will face pressure to outperform pervious result; the pressure could provide an incentive for him or her to involve the misstatement and fraud of financial report. Also the inherent risk would increase. The company owned 25 outlets of varying sizes and geographic locations, which would increase inherent risk, because it is hard to be controlled by managers of entity. Company has signed contract regarding the construction and development of a restaurant and entertainment complex, which would increase inherent risk due to the lack of expertise about the new market. The company installed a new computer system; the change of information technology may not work as expected or may be unreliable and could affect the accuracy of financial report. Therefore, the inherent risk would be increased. (b)(i) Based on the audit risk model, three components consist of audit risk: inherent risk, control risk and detection risk. The increase of inherent risk will result in that misstatements likely to occur in companys financial report, which would lead to the increase of audit risk as well.(textbook) (c) The level of materiality should be considered as a key point to plan the nature, timing and extent of audit procedure, and the relationship between audit risk and materiality is inverse. (textbook)Therefore, the amount of preliminary materiality level reduced from $5000000 to $3200000 after review of inherent risk, because that the inherent risk is higher than the auditors anticipation. Thus, auditor should increase the extent of audit procedures, selecting a more effective audit procedure and performing audit procedures closer to the balance date, particularly in respect to account is considered importantly by auditors.(text book) 8.34 (a) The objectives of internal auditors are that Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organisations operations. (Adam Cunningham). The internal auditors scope of work is comprehensive. It serves the organization by helping it accomplish its objectives, and improving operations, risk management, internal controls, and governance processes. (http://www.theiia.org/theiia/about-the-profession/internal-audit-faqs/?i=1086) External auditor is to verify that the annual accounts provide a true and fair picture of the organisations finances; and that the use of funds is in accordance with the aims and objects as outlined in the constitution.   The scope of external auditors (b) External auditor can adopt the information from internal auditor included that: The internal audit function as a part of the internal control, will impact the external auditors assessment of control risk and the scope of audit procedures. The descriptions and other documentation of internal control will contribute the external auditor to gain an understanding of the companys internal control. The direct assistance by internal auditor will help external auditor to make substantive test or tests of controls(textbook) (c) Along with internal auditor involved in assessing the company strategy and identifying the associated risks, which will provide helps for the external auditor regarding to undertake a business risk approach to the audit. In addition, internal auditors should hold adequate skills, knowledge, experience, integrity and objectivity to ensure the effective information for external auditor. (textbook) Based on the information on 8.34, Gourmet Pty Ltd owns an experienced and professional internal auditing team. However, the external auditor should consider carefully for these information, because that the objectives of the internal auditor should be the same as the objectives of the company (David A. Wood).Therefore, external auditor must select information under the requirement of independent audit. (d) The objective 1, objective 2 and objective 4 are related to ensure the effective operation and acquirement of maximal benefit for company, which are not included in control activities. The control activities is that policy and procedures that pertain to performance reviews, information processing, physical controls and segregation of duties. (Textbook) Therefore, the objective 3, objective 5 and objective 6 are related to internal control activities, which are need to be relevant to external auditor. 9.35 (a) The related internal control must be identified effectiveness if auditors plan to rely on this control. Therefore, auditors need to set out tests of control to confirm effectiveness of controls. From this case, the audit partner has decided to use the work of the internal audit group (LAG). One of the work papers from LAG is to examine payments made to creditors throughout the year and determine whether the procedures laid down in the Accounting Manual have been properly followed. On the other word, this paper is related to the tests of control about payment. The result of this test indicates some errors: (i) Payments that were not matched to an approved purchase order, however, all other documentation was attached. The objective of this is to test the occurrence of purchases of inventory transaction. This error implies that related transaction may not occur or the transaction is unauthorised. (ii) Payments that were not made to an approved supplier. The objective of this is to test the occurrence of purchases of inventory transaction. This error implies that related transaction may not occur or the transaction is unauthorised. (iii) Payments that were authorized by a second party, although this was not required. The notes explain that new financial accountant being unaware of firm policy. Although it has been remedied, the related transactions may do not occur or is unauthorised. (iv) Payments that had no supporting documentation attached. The objective of this is to test the occurrence of cash disbursements transactions. This error implies that related transaction may not occur or the transaction is unauthorised or the goods or services may not receive. (v) Payments that did not bear evidence that computation on creditors invoices had been checked. The objective of this is to test the accuracy of purchases of inventory transactions. The error implies that related transactions are not recorded correctly. Also, these errors indicate that the internal control regarding payments is not very effective, because the proportion of error is almost 28% of 60 samples. It means that the risk of this related internal control is higher than average level. (b) Under this situation, external auditors should consider whether the evidences adopted by internal auditors are satisfied sufficiency and appropriateness. Particularly in respect of the appropriateness should be discussed here. Gourmet Pty Ltd is a large private company; therefore it must have a large volume of transactions. If internal auditors only selected 60 samples, it should be considered by external auditors that the amounts of samples are not sufficient and the control risk is higher than its actual level. Therefore, they can choose to increase the extent of test of control to try to reduce the risk level to an acceptable level. If the control is still not working as they expected, they can choose increase the extent of substantive testing in order to continual reliance on this control. If the control risk still can not be reduced by these tests of control, external auditors will give up the reliance on the control. In effect, auditors have determined that control does not exist or the existence of control can not provide reliable evidence. (textbook)

Roller Coaster Physics :: physics amusement theme park

Undoubtedly roller coasters are the kings of amusements parks. Whether you enjoy a older, rickety wooden roller coaster with its thrill of positive and negative G's and a fairly wobbly feeling. Or, you prepher something newer, a tube steel roller coaster. A coaster that is faster, one that includes death defying speeds, hairpin turns, and of course the crï ¿ ½me de la crï ¿ ½me, loop de loops. However, regardless of you personal tastes and preferences, through exploring this page you will find that all roller coasters are indeed bound by the same fundamental laws. Laws that govern everything in our daily lives, the laws of physics. While exploring this paper, please remember this simple fact: Roller coasters are fast, they're fun, they're exciting, but above all, they're PHYSICS! The basic physics that apply to roller coasters can be seen when we examine some of the simple thrills of roller coasters: * The relation between Height and speed * Positive and Negative G's * The corkscrew * The loop de loop Some of you out there might be wondering, what exactly I mean that when I say that there is energy associated with roller coasters? And the answer is very simple, although roller coasters don't produce, or use energy as most people today would define it--electricity. They do posses what physicists call kinetic (or mechanical) energy, which is the energy of motion and is defined with the equation: K= ½mv ² which is read: ï ¿ ½Kinetic Energy equals one-half mass times velocity squared.ï ¿ ½ However, there is another type of energy associated with roller coasters, and that is gravitational potential energy, which is simply the energy that the roller coaster has due to its position above the earth, and has the formula: U=mgh which is read: "Potential Energy equals mass times velocity times height." Then, when we take into account the First law of thermodynamics (also called the conservation law), seen below: The First Law Of Thermodynamics: ï ¿ ½Energy can be changed from one form to another, but it can not be created or destroyed.ï ¿ ½ click here to see the source page. So, after taking thermodynamics into account we see that at any given point during the roller coasters ride, (granted we are using a traditional roller coaster in which there are no extra chains, or engines to lift it other than the first hill, and that friction is negligible) we see that:

Defining Intelligence :: essays research papers

The true nature of intelligence has been debated more intensely then ever over the last century. As the science of psychology has developed one of the biggest questions it had to answer concerned the nature of Intelligence. Some of the definitions that have been given for intelligence have been the ability to adjust to one’s environment. Of course by such a definition even a person who is generally considered to be dull can be regarded as being intelligent if he can take care of himself. Other definition is such as having the tendency to analyze things around yourself. However it can be argued that such behavior can lead to over-analyzing things and not reacting to one’s environment and dealing with it in an intelligent manner. One of the most definitive things ever said regarding the nature of intelligence was that intelligence is whatever IQ tests measure. The IQ test has been in use throughout the 20th century and serves as an accepted measure of a person’s intelligence. It is used by institutions such as schools and the army to screen people’s level of intelligence and decisions are made based on that. The IQ test consists of a series of questions regarding certain skills such as vocabulary, mathematics, spatial relations. The scores that a person gets on these tests depend on the amount of questions that a person answers correctly. The actual score that a person gets is dependant on how others in that age group do on those particular questions. While the IQ test is generally used and widely accepted they have been criticized for several different reasons. One is that the test by its nature measures how well a person does answering questions on paper. However it is well-known that not all forms of intelligence involve memorizing words or solving equations. Recently there has been a movement in psychology regarding something called EQ or emotional quotient. What this is saying that there should also be a rating for people that are particularly able to deal with other people and social situations. While someone that is very good at dealing with people and real world situations is generally not regarded as being intelligent in a stereotypical manner there hasn’t been any definition of intelligence proposed which have ruled out this particular form of intelligence. Defining Intelligence :: essays research papers The true nature of intelligence has been debated more intensely then ever over the last century. As the science of psychology has developed one of the biggest questions it had to answer concerned the nature of Intelligence. Some of the definitions that have been given for intelligence have been the ability to adjust to one’s environment. Of course by such a definition even a person who is generally considered to be dull can be regarded as being intelligent if he can take care of himself. Other definition is such as having the tendency to analyze things around yourself. However it can be argued that such behavior can lead to over-analyzing things and not reacting to one’s environment and dealing with it in an intelligent manner. One of the most definitive things ever said regarding the nature of intelligence was that intelligence is whatever IQ tests measure. The IQ test has been in use throughout the 20th century and serves as an accepted measure of a person’s intelligence. It is used by institutions such as schools and the army to screen people’s level of intelligence and decisions are made based on that. The IQ test consists of a series of questions regarding certain skills such as vocabulary, mathematics, spatial relations. The scores that a person gets on these tests depend on the amount of questions that a person answers correctly. The actual score that a person gets is dependant on how others in that age group do on those particular questions. While the IQ test is generally used and widely accepted they have been criticized for several different reasons. One is that the test by its nature measures how well a person does answering questions on paper. However it is well-known that not all forms of intelligence involve memorizing words or solving equations. Recently there has been a movement in psychology regarding something called EQ or emotional quotient. What this is saying that there should also be a rating for people that are particularly able to deal with other people and social situations. While someone that is very good at dealing with people and real world situations is generally not regarded as being intelligent in a stereotypical manner there hasn’t been any definition of intelligence proposed which have ruled out this particular form of intelligence.

Lazy is the American Essay -- Argumentative Technology Technological P

Lazy is the American Today’s American society consists of many technological achievements. The cars we drive, the classes we take, and even the things we do in our spare time has changed due to the increasing amount of technology that is available to us. Technology is a wonderful thing to behold, but then we can look at the one thing technology has done to humans and especially Americans. Technology has created a society of many lazy people. In order to support my argument, I believe that it is imperative to answer one question in great detail. How has technology made us lazy? Laziness has gradually increased in the past ten years. Kids no longer want to play outside. â€Å"It’s too hot?† or â€Å"Let me finish this game!† are just a couple of excuses kids make these days for staying indoors and not enjoying an outdoor activities. Air-conditioners and video games have done some extreme damage to youths and their physical activity. I am only 19 years old but I remember playing a pick-up game of baseball or wiffleball after school or during the summer in the afternoon. Kids these days have forgotten how to enjoy the outdoors. Sure there are those few kids in town who still enjoy doing such things. Hell, I still enjoy playing a game of baseball or wiffleball. But for most kids, the interest is non-existent. Kids in the 90’s grew up with new inventions such as the Playstation and the PC. Why go outside when all you need is inside? Nowadays there is a television in almost every room in many typical American families’ home s. Kids even have televisions in their rooms with their game consoles plugged in and their computer next to their bed. Our family had one TV to share and a game system was connected to it. I was forced to share... ... or shooting some hoops with mom or dad, can resolve some laziness both as a person and as a parent. Parents could also focus on helping their kids with homework or keeping up to date on their grades. This is no technological achievement that has been made to act as a parent and there shouldn’t be one. When that child grows up to be a parent, their attitude will reflect that of his parent’s, a majority of the time. This is a society that makes excuses for our laziness. Technology has helped induce our laziness. We shouldn’t do away with technology, but we should use technology when we are lacking in time to spend being active outdoors or when we are spending time with our family. Technology should not be used for everything we do either, such as cooking, traveling, or even doing basic chores because sometimes technology hurts society more than it helps society.

Independence Day Essay

â€Å"India is the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend, and the great grandmother of tradition. Our most valuable and most instructive materials in the history of man are treasured up in India only.† Honourable Chief Guest, teachers and all my dear friends. This day 15th August of every year is a golden day engraved in the history of the world. We won our freedom on this date and it is a day of celebration. As we celebrate it hoisting the flag, playing our National Anthem with fervor, singing and rejoicing, we need to recall the past to remember and pay homage to the builders of our nation. My dear friends, we are the privileged lot to have been born in a free India. We are able to breathe in a land that is free from the day we were born. If at all we want to know the pangs of agony of being slaves under a foreign rule, we must ask our elders born before 1947. It was indeed a Himalayan task for every Indian in those days to fight against those powerful giants – the British rulers. We must not allow those hard times and struggles fade away from our memory. Hence it is befitting for us to celebrate such a National festivals and recall those heroic deeds of our National heroes. We remember them today. Right from Mahatma Gandhi to the many patriotic leaders to whom we owe our gratitude. As we regard those martyrs who laid their precious lives for our sake, we must not ignore the common people who sacrificed their lot for the good cause. There were farmers, land lords, businessmen, teachers, writers, poets and students who helped the land achieve the long cherished dream of being free from foreign rule. Today we have travelled a long way in the path of free India. We have proved ourselves worthy of freedom. We are considered as the largest democracy in the world. How proud we were when Sushil Kumar won the silver medal in 2012 London Olympics or when The Indian Cricket Team lifted The ICC Champions Trophy? We are proud of it and feel very happy about all these positive aspects. But can we afford to be blind to the black clouds surrounding us? Let us question ourselves have we used our freedom in the right manner? If so, why should there be so many problems facing our motherland that threaten its existence? Be it terrorist attacks or the blight of corruption; these are the dangers that threaten us all. Well what can a mere student do at this juncture? Should we go catch the terrorists? Should we fight against the corrupted politicians? Or should we take over the country by waging another war for  freedom? No, we are not expected to do anything that brings turmoil to our land. We must keep observing things around us. We will have our own day. Before that, let us do our duty of preparing ourselves to be well-educated citizens of tomorrow. Let us do our duty sincerely and study hard to achieve a goal that is to be responsible citizens of India who believe in their country. Today we require youngsters with lot of energy. Illiteracy is our first enemy for a democratic nation. Let us get rid of illiteracy and become informed citizens who take India to a bright future. Jai Hind

“Success is ninety-nine percent failure.” – Soichiro Honda

Firstly, there are many standards in defining â€Å"success†. According to the Dictionary. com, success is the attainment of wealth, position, honors, or the like. It means that each person has his or her level of success, which means some people would think they are success when they earn a large amount of money; some would prefer a high social status; some would consider as having a happy family or achieved their personal goal. â€Å"Failure†, on the other hand, it is a feeling that people are disappointed when their goal or achievement cannot be reached. To be able to reach achievements, failure could be use as a stepping-stone toward success. In other words, â€Å"Failure is the mother of innovation. † The underlying implication shows that each failure is a step along the road to success. People should experience what they have learnt from failure; once they failed they could use the failure as a lesson and learn from what they have failed, use it to gain experience and move toward success. For instance, every person cannot run before they learn how to walk, and they must have the feeling of pain for improvement, and they also need to learn how to stand up wherever they fell. Thomas Edison said,† Genius is one percent inspiration and ninety-nine percent perspiration. † He had tried more than 1000 experiments before he came up with a successful invention. His deafness did not disturb him from investing, and he did not give up and even thought the deafness could help him more concentrate. His example is one of the best to represent that one should never give up before success. If this quote put into marketing, one marketing strategy will not bring us to be success and never be the best way to run a business. As the market keeps changing internationally from time to time, companies should not give up to innovate new strategies to fulfill customers’ needs or improve their products regarding the market changes. When the companies suffered from economic downturn, some of them will choose to close down; however, some of hem will try to develop new market strategies to stay in the market if they can think from other aspects. Conclusion In conclusion, â€Å"Success is ninety-nine percent failure† is extremely related to human beings, it is because everyone may not be successful if they do not failed in their life. Everyone has different meaning of success, but people should not give up when they failed, they should to have solution to overcome problems.