Ynglyn混, Yllghwith Arlun Dyma yn ymwybodaeth yw haes yn iawn ond Rhun ap Ierbydd Mawr yw hyn ar ei wneud yng Ngheir. Yn ystyth, mae'n golau'r pwgawr yma ar gyfer y gwasun yn gallu'n gwahanol yn teim Invadau gyfraith.  Ndwme also urged President Bahari to prevail on the national assembly to pass the proceeds of crime bill in time, regardless of the bickering on the management of the recovered proceeds. He said there was a need to look at the incidents of corruption, most especially those occasioned by public officers who are in trust of public wealth. Speaking further on how to address the menace, Ndwme said the government must go a step further to protect the whistleblowers. Joining us to discuss this is Tunji Abdulamid. He is a legal practitioner. Thank you very much for joining us, Tunji. What interests me the most is the part where we talk about the burden being on the individual to tell us where the source of their wealth is or how they make these monies. I remember when this government came into power, there was a thing about whistleblowing, so you could whistleblow. We saw a lot, so a few people did it, but then there were stories also that emerged of whistleblowers not getting the monies that the government promised to pay them.  Will it really ever work? You see, Nigeria's situation is peculiar, peculiar in the sense that we want to injure every problem on lack of law, lack of order, lack of whatever, whatever. You see the order or law is not our problem. The implementation and enforcement of those laws, the problem we are having, and that's why there was a corner. Enforcement. No, the particular whistleblowing blow was a blow. It did not work because it was not being implemented the way it should be, and that's why we are having problems. So that's why I'm one of those who don't believe in the fact that, look, our problem in these countries is about our law, our countries are about our president making an order or whatever. I don't believe in it. We have enough laws in this country. We have enough order from the president that can change the country. What we are lacking is the enforcement and the implementation. Just like excited, the kidnapper, sorry, whistleblowers law is not working because the government is not even being sincere in implementing it and enforcing it. Somebody will give information and that after that will be issued regarding his payment. So you can see where the problem is, and that's why the thing died naturally. You will give information and that after that your security is not... I was about to ask that. Where is the safety for the man who sticks his neck out there to blow a whistle and say, well, I've noticed that this person is spending or living a lavish life and I can't not put it side by side with what he does as his day job. And then at the end of the day, that person ends up dead. So where is the security? That is a problem. So like I said, the implementation and enforcement is our major problem. So whether you like, go and do a proceed of what's it called? Wealth. Wealth bill or whatever on the explain the wealth. You know, even though it's on explain what you're talking about, all these are called by our law. If you are in the position of authority or in government position and you are any more than what you have, they can infestigate you. And when they infestigate you... Who's they? Who's they? Because you say... Who's they? No, we have DSS, we have the police, we have the... These are their job. Their job is to do infestigation and expose the corruptions. So they are the agency of government responsible for that work. So if they do their job, they will be able to expose people who are corrupt in terms of their... In the course of doing their job. So what is the challenge of the EFTC, the ICPC? We have all of them, the DSS. Why do you think that they're unable to... Because I don't think I want to use the word unable. They are very capable. We see them, I mean, we saw the barat issue. We saw the diamonds. We saw the jewellries from the former minister of aviation. So what's stopping them from investigating other politicians that have wealths that are inexplicable? Even those who are infestigating, they have wealth that are inexplicable. How do you mean? Because I know some of them, we know the salary, some of them are any, and we know the lifestyle they are living, and we know the kind of car they are driving. So it's very difficult. So in this country, insincerity is one of our problems. Major problem we have, insincerity and lack of political way to... You know, our structure is in a way, is such in a way that look, once you are in a position of authority or once you are in a good book of the grossing government, you are likely to go away with anything because people will just close their eyes to what you are doing. It's when you are now against them that those things will not be exposed. You see, a situation whereby people who are committing crime will be protected. And those who are, they will tell you it is a young constitutional for them to expose people who are committing crime. For example, the issue of the bandit's and bookworms or whatever, because we are told some of them have been arrested, but they will not expose them. The people who are alleged to have stolen money or political, to have been corrupt politically, their names have been rolled out by the same government. So you can see the insincerity in what is happening. So the enforcement and implementation, if it's not well thought out, or if there is no fairness and equity in implementing it, there is no way you can get results. So our problem is not about whether lack of law or lack of. We have enough law on grant. There is also what is called breach of trust, the criminal breach of trust. If you are in a position of authority and money is given to you and that money, you divide it to another area. In fact, if you are giving money, say for instance, to go and construct a particular road and you did not use the money for your benefit, they use the money to buy that thing that will be beneficial to the government. That is an offence under our law. For example, if you go to bank now again, you borrow money and the purpose of that or borrow that money was that I want to use it to build a house. You now use the money to marry another wife or you use the money to buy a car. That is what is called confession. So it's an offence. So stealing is there. It's about doing investigation and punishing people for community crime. So it's not about bringing in a new law, bringing in a new order or whatever. We have laws in assistance that can cater for all these things that have been already. I'm struggling with the thought of the fact that we have a government in power that rolls to power on the wings of coming to fight corruption in the system and reading the country somewhat of it. You're telling me that in 2021 that our agencies that are set up to deal with corruption have corrupt people in them and that's why in your words they are unable to investigate these things. I'm also struggling with the fact that we have these institutions and they are unable to function. So I'm asking how do we build strong institutions that can stand alone without being the let's say dogs of the government in power, whether it be the APC, the PDP or whatever party? It's going to be difficult for us to be able to build an institution in this country because we rely on individuals. When we talk now, we talk about body language. When we talk, we talk about social person. You don't talk about institutions, you talk about individual. So the more we talk about individual, the more we'll be able to resolve the issue. But if you have a system that works, whether or not that person is there, you'll be able to cure whatever is happening there. So the issue of structure, give our system not working the way it should work is a major problem. So the institution whereby those in the authority will not, will say because this is my person or this is my, it's from my community, it's my ethnic member or it's we are both Muslim, we are Christian, we are this and that. Based on that you cannot. So you're saying we're part of the problem? Is that what you're saying? The Nigerian society is part of the problem and that's why our institutions cannot be strengthened? We are, majority of us are part of the problem. So does this mean that we're going to keep wallowing in this situation because in one breath you're saying we have to but in the other breath you're saying it's going to be difficult but can we still at least achieve it? I doubt if you can. Is there a possibility? I doubt because except we have a leader of those in government who come and change in the way, you ask what they are saying? Not say something. But if you just painted a picture of those in government as being very corrupt, how will very corrupt people want to build institutions that are strong enough to investigate them? No, if they are sincere and they are ready, that's why I say if you are a leader who is ready to fight the corruption or is ready to lead by a sample, not by what he says alone. Because I remember when this current president came into power in 2015, the first week everybody was doing the writing because you were talking about this man will not take no sense. The after two or three weeks they realized that this man is more or less like the same thing with the people already on the ground. Everybody went back to their normal system and they didn't continue. So in other words, if you have a leader that is ready to lead by a sample, they are ready to say, look, as a political officer there, you must do this, you must do that. You must not go to this place to do this. That same person is also not going the same way. When you say you are a leader, you say look, as a government officer you must not travel to a social place, you must not do this and this and that, and you are doing the same thing. You expect people to not to follow you. Can we find such leaders in today's Nigeria? That's why I say it's going to be difficult because as it is today. So you're saying that you yourself cannot be a leader that is corrupt free? No, it's going to be difficult. I'm not saying we can't get it. It's going to be difficult because the system that will bring out a leader in this country will not, if you don't have money, if you don't have money, you may not be able to get there. And most of the people that fall in the category of people who are looking at may not even have the ability or the money or the capacity to be able to get there. And if you are able to get there through people who have money, there is no way they will not control you. There is no way you will be there alone and say, yes, you have been voted into power, you cannot control me. There is no way. So where does that leave the average Nigerian right now? The only situation where things can change is when all of us are ready for the change. What do I mean? If we all see a political system or if we develop more interest in who governs us, who becomes our leader, who becomes our governor, who becomes our president, who becomes our member, if we don't leave it for people who are corrupt, because today what we say is that people who see themselves as saints in quotes leave the system for those who they say are corrupts, people they call devil, people they call criminals and they are expecting those criminals, those people they call criminals to bring results for them or to change situation to them positively. There is no way you can see any change from anybody. So if you want that thing to change, we all must be interested in it. We must all participate and change our attitude. The attitude of average politician is the attitude of an average Nigerian. If they don't have the opportunity, they will tell you this and that. When they get there, they join them. That is the situation of things. So everybody is waiting for his turn. That's what the majority of Nigerians are waiting for. They are waiting for their turn when they get to his turn so they are able to get his own money quickly. So until we all change our attitude and we have the interest of our people in other words, what I mean is in government not to make money, I mean government not to be rich, but I mean government to serve people. When we see government as being government, as service, that is when we are going to have a proper change. Well, Tunji Abdulameed is a legal practitioner. Thank you very much for speaking with us. We appreciate it. Thank you very much. All right. Well, thank you all for staying with us. We'll take a short break now to hear what Nigerians have to say about the unexplained wealth order. And when we return, I'll give you my take. This unexplained work deal is really well established in other countries like in the UK. I think it's very necessary in Nigeria because the wealth we have presently is not sufficient. The matter of declaring of assets, people do have ways of suppressing that law. So I think once you give this play how you end this money, if you end the money in a legitimate way, I think it's very necessary that you sign it into law. Yes, I think so. I believe so. And if that is done, I think it will stop a lot of these corruptions we have around and people will be up and doing, especially for those honourables, the ministers, the government officials and all that are crying with in very coros man and all that. So signing those laws will actually, you know, stop those guys from these illicit affairs. Well, either the president signs it or not. I think it's to cut corruption, corruption. So either signing it or not. Corruption is still the country. So any which way? Signing the bill is not even the problem because the present government now that we are now, this president regime, let's stay from top to the least. All of that are corrupt. I don't think there's any way someone can stop corruption in this country. So if you want to sign it, let him go ahead and sign it. If you don't want to sign it, all the slides for them, but I don't think anything can stop corruption on this one because corruption is ruptured deep into our blood. Well, the people, they say, the government, they say, are a reflection of the people. You cannot give what you do not have as Nigerians until we decide that we want a society that is corrupt free and that we will lead, by example, and when we say leading, by example, it begins with you in your home, in your place of work, in your business. Stop taking those kickbacks and under the table or brown envelopes. We all have to start where we stand for corruption to get kicked out of this country or even reduced to its barest minimum. So until we're ready, it's never going to happen. I'm Mary Annacol. Have a great day.


If you were to buy a pair of sunglasses only because they match your hair, because I did, 10 out of 10 would recommend.  I've tried twice now in the past to prank Julian. I'm not very good at it. Whoa, we're gonna get you in your body. That's a little fun. But what I want to do this time, I think something a little more romantic. See, Julian and I have never been to like any sort of dance or anything romantic together. You know, it's not like we're married or anything. You know, we haven't really done anything romantic for the two of us that involves like a dress and a dance. So what I think I'm gonna do is throw us a surprise prom. That's right, okay.  I want to have a punch. Julian doesn't know like when he's gonna be finished. So my time schedule is going to be a little weird because I don't know how much time I have. So we're just going to have to like freak out and do it. Who after a long day of hard work doesn't love to come home to a surprise prom? It's going to be pissed and it's going to make a mess. Here we go, BB.  All right, mommy's got to go. Goodbye everybody.  And I'm already sitting, getting with the door card. I don't know if someone enjoys this.  I hope that he's too busy and doesn't notice that I'm gone at all.  I got a bunch of stuff as you can see. One of the girls that helped fill up all those balloons for when I lifted marbles in the air with balloons was in there. I could just feel her looking at me like, bitch, what is you doing right now? Yeah, just throwing my boyfriend in adult prom for surprise. I got a bunch of good stuff with the exception of fog juice for a fog machine, which I'm gonna have to find somewhere else, which is kind of a bitch, but I can do it. I believe in myself. It's hot. I gotta go. I've found the mother load.  So I made it back. I think this is all the supplies I need to have a great prom. We'll see. I hope I got enough stuff. I had to go to four different party supply stores to get the fog juice that goes inside of a fog machine.  Like it's taking so much extra time. And I was like, you know what? Yeah, it is because I want to prank my boyfriend and it's hard to do it without fog. First thing I think I'm gonna do is move this couch to the best of my ability, slightly somewhere else. Now we have all of this dance floor to dance around. Now I'm all sweaty, which is not cute for prom. And there's also a couch in my kitchen, but you know what?  I also am particularly excited about this. Girl, it's not a prom unless I have a tiara. All right. So I'm doing like lights and big stuff first. And then I'm gonna do like smaller decorations. Second, but I just plugged in my first thing that I bought. And first of all, I didn't realize that was like a rotating set of balls. It's really not that impressive. I'm a little disappointed, but it's gonna be all right. It's just a, it's a very sexual prom.  So I got a strobe light up there. This fog machine came with no instructions whatsoever. So I had to look up a YouTube tutorial because of how I learned how to do everything. So far it's not working. This is gonna be a big bummer. Consider a wasted hours driving around trying to find solution.  Oh, what is happening? No, you're ruining prom. Oh God.  Oh, help me. All right.  Luckily this bubble machine has more than paid for itself and fun. Oh my God. Hell yeah.  Well, it's worth it. Happy prom, Julian fucking. Got you. So the room is looking pretty good, but it's not nearly finished. And I just realized that Julian texted me like a little bit ago that said almost done. Oh my God. I don't know what to do. I'm like not almost done.  The bubble machine is making the floor really slippery. So to counteract that, I'm going to put confetti on the ground. So Julian's going to be pissed, but that's okay. Oh God. Oh my God. It's so magical. Look at how magical this is going to be a disaster to clean up. That's okay. I also might need to switch back and forth between cameras because that one's battery is dying.  But here's my dress. This is actually a dress on top of a dress because I like these sleeves.  Like it smells so bad. I got my tiara and also a bow and some hair extensions and like some cool star earrings because I just felt like that was very prom. I didn't expect him home this soon. He said 5 p.m. and it is not 5 p.m. I'm freaking out. Made a real nice song for us to dance to at prom. I'm watching him. I'm fine friends. The phone's going to die freaking out. He's early. I'm not good at pranks for surprises. I fell down.  I wish it was a little darker though because that's more like prom. But this is okay. It'll do. He's probably going to be carrying a lot of gear.  Okay, here we go, BB. What is going on? Are you going to prom with him? I'm going to cry. Hi Colin. What are you wearing? What are you wearing? We're going. What is crying? Julian, I only have one camera because you took all of the SD cards and my tripod. Wow, that looks so good. You ready to go to prom? Okay. Colin, you want to come to prom too? Yeah, I have to go. Okay. Oh, it's in this song. So are we going then? Yeah, we're going. You want to close the door so the dogs don't get out? Permi, come. Permi, can I leave the Oscar extended period of time? Something like this happens. Here, these are for you. These are for me? Yeah, you're going to prom. Do you want to wear the tiara? Come on, guys. Ready? Yeah.  I got a fog machine, but it doesn't work. Also, be very careful. It's very slippery. Why is it so slippery? Because of the bubbles. This is beautiful. Look at it. Isn't it nice? I feel like I'm in prom. Because we're going to prom. You like it? I love it. All right, come over here. Would you like... Don't? Julia! It's so slippery. Don't slip and fall. Okay. There's confetti everywhere. Help yourself to some punch. It's watermelon, water, and vodka. Is it really? I didn't taste it yet. We're at prom. Want to dance? Yeah, dance. You want a glow stick? Yeah. No. You don't want a glow stick? So nice. I sang this part for you. Do you like me at life? It's indistinguishable from any restaurant. Do you like my dress? Yeah. This one legitimately smells. Did you get that? The anniversary star. How many dresses are you wearing?  How long are you waiting? A while. Recording that today. You like it? I like it. I like it a lot. Your weight is really something. Very like ladies. Do you want a detail? No. Prom. Is that it? You like it? This is amazing. Do you like your new jacket? It actually looks so good. This jacket is pretty nice actually. Yeah, it's actually kind of dope. Amazingly decorated. This is the best prom I've ever been to by far. Happy prom! Make sure to subscribe to my channel and follow me as I start the video. Oh no. Oh no. Oh no. She's going to start to start on her butt. She knows. This is beautiful. Let's dance happily ever after. Can I leave? Please go to prom with me. I'm excited to go to prom with you. Thank you to prom. I want to thank you to the stars for the time of my life. I never found this way before. And I swear it's the truth. And I owe it all to you. Urscher baby. Oh yeah, wild, wild thoughts. When I win you all I get is wild thoughts. Let's take it something, it's something, yeah. Forever young. I want to be forever young. Got to take a lot to drag me away. Is that the better heart to get along? Get over here. Shall I want to get paid? Pay now.  It's something, something. All that we shoot is the victim. I'm gonna love 10,000 lives together. Is that so much for you to do? Let me out of your bed.  Faces, worn out faces, worn out faces. This is supposed to be romantic, good. Early to the daily races. Look right through me. Look right through me. I'm in a funny car. Oh yeah, Julie, you want to dance? Oh, these ladies pop, don't push me like this. Shake your body, don't poop, don't piss.  Shake your body, don't poop, don't piss.  And if I could spoon it up, you know, you fell asleep because of your friends. Because it's 11.30 in the club. It's jumping, jumping. Oh yeah, boy. This is the great song.  Yeah, we vlog again. Ain't you done? Let's shake it, and see the schedule. Boop, boop, boop, boop. Boop, boop, boop, boop. Boop, boop, boop, boop. Boop, boop, boop. Because I'm your little baby. Who's a more, again? He likes to move on a graze. I'm gin and a bottle. He's right where I am. Yeah. I'm gin, and a bottle. No baby, you better lose yourself Spaghetti, spaghetti


Hello to everyone in this room. I'll call your attention to the front, and I will have you stop talking for a moment, and then I'll get you all talking again before I go back. Hello, good morning, welcome. This is Blockchain at the Edge, day two. My name's Hadassah Damian, I'm a facilitator with Consensus. We will talk at you for as short a time as possible so that you can talk to each other. What we started with yesterday was a two and a half hour session where we had about 50, 60 people through the room, thinking through some specific ideas, use cases, and information around instances where we might use blockchain for social impact, or, as like American scholar Bell Hook says, moving the margin to the center. So thinking about instances of where we're going to use blockchain that might be for people who experience marginalization, but actually making at the center the focus of what we're doing, as opposed to an edge. So what we're going to do real quick is we are going to orient you all to where we left off yesterday. We're going to break into groups by interest area so you can keep sharing with each other. We will also have a other new interest area, if anything that we were working on doesn't interest you. We're going to have a little time for thinking, ideation, things like that. And then we're going to share back as a group. And the goal of what we're doing over the week is to build on each other's thinking and grow our learning. So I will invite somebody who was in this group to talk about where are the ideas around finance and financial autonomy landed yesterday. OK, what we did yesterday is, so I'm Tessie Merain. I'm also a consensus and I'm also the provident blockchain. Anyways, so in this area, we talked about financial issues and how we can resolve them and what they might be. And so we ended up zooming in on the two main issues that came up. One being access, not having financial access. For example, let's say in Kenya, somebody was here who was talking about a project helping people by creating circular economies. So that would be creating access for people who otherwise wouldn't have access by providing basically a tokenization of assets and then making them liquid, right? Being able to exchange them by having a token and that way you could exchange them. And that token wouldn't come from, wouldn't have to be paid for. So therefore, it's creating a value chain that didn't exist before versus another issue in the financial category being, for example, countries in financial crisis where the money is devalued. So what you have is going away. And also countries under sanctions, right? You earn your money and somehow you have no control over it. So that ended up being the main topics were being about ownership and access, right? And so one of the learnings was that in some ways the proposed solution to create liquidity, it was kind of like everybody becomes their own little central bank could be, when it's scared, be the old system, right? And this would actually be exactly what we're trying to find alternatives for. While, on the other hand, creating a system like, let's say, for example, Bitcoin to be able to maintain control over your finances could also prevent access. So this is where we landed at the very end, that we had these two topics around finance and that potentially the solution for one part of the problem could recreate the old system and the solution for the other part of the problem could maintain the original problem. And so we haven't gotten further than that. But we also came up with a couple of ideas that have to be requirements and there were features like being permissionless, being tamper-proof, being trustless, being accessible, being global, and building an ecosystem and providing interoperability. So anybody who is interested in this area later should join on this side. And we'll go back to... All right, thank you Tessie. All right, so for folks who are just joining us, welcome, welcome. We're orienting to where we left off with our problems and ideas yesterday and we're gonna get you into working groups in a few minutes. But first, I'm gonna hand you over to Elix, who will talk a little bit about another problem area we were working on. Hi, I'm Elix Keller. So yesterday, same as Tessie was saying, that very small problem we were trying to solve for with the idea, lack of ideas, decentralized ideas in general. Got a small problem. Very, very hard to start a solution against that, but the synthesizer down into a couple of areas. And they are undocumented migrants, refugees and asylum seekers, need protected, verifiable, transferable identification because of access to social services, formal work, and protection, our contingent on an ID. So that was the problem statement we came up with. And the second one we came up with was communities without the ability to own IDs. So this is children, elders, since they're ill, sick, need the ability to determine who is responsible for and able to act on behalf of them and their ID because these peoples are the most vulnerable. So again, vulnerable communities that need to be centered and less on the edge. So we got this topical, like we've ripped it on this topic. There's other issues here. Again, if you're kind of an ID person, personally I'm more of like a track and trace person or no one wanted to do that yesterday. It's fine enough with ID and I like that though. Okay. So have fun parking with me over here. Cool. Thank you, Elise. The final issue area that we jammed on yesterday was on government governance, but in particular thinking about co-ops as DAOs, question mark, right? It's like using a really grounded example of cooperative businesses as decentralized autonomous organizations. Some of our big ideas were around what it meant to allocate scarce public resources fairly. How we could impact a supply chain positively and how we might combat corruption and monopolies to help small businesses and to help individuals who are small businesses. So one of the problem statements that we landed on, let's see if I can read it from here. Farmers and co-ops need a method to distribute value from its fields efficiently and fairly because often smaller farmers are not treated fairly. There's powers, right? And then we also pulled back and had a few more abstracted problem statements around decision makers or leaders in organizations needing to be able to make decisions in ways that are transparent, right? Sorry about that. So if you want to think about how cooperatives and how governance might support small businesses being more efficient and fair for small business owners, you can jam over here. You'll see that we have a fourth area, right? We have a talking about decision making in small business and governance for co-ops or I.E.'s or financial control and ownership are currently doesn't appeal to you. You are going to go to the other area and we will generate topics there. So in a moment, when I say go, you're all going to stand up and move and find a seat or bring over a seat with you into the area that you would like to talk about and work on for the next 40 minutes or so. So again. Is everybody clear on every one of the topics? Because I know some of you came in late. Financial is related to financial accessibility and maintaining the assets you have. Awesome, thank you. Cool. So, financial accessibility, governance and cooperative organizations, I.D. and like positive digital security. I don't want to talk about any of those. Let's talk about something else. If you have a burning topic in your mind you always wanted to talk about you wanted to get other people around, go here, propose it. What about the three? So. They are related, you're totally right. Financial is related to I.D. They're all related, we have only an hour. Right, so. So let's go talking in groups. Yeah, so on the count of three you're all going to get up. So the purpose of what you're going to do in your group is you're going to look at the problem statements that were left and you're going to improve them. The problem statements that we have, you just came up with yesterday. They're not good yet, right? And there's so much more information that you, with what you know, your experiences, you can add to these issue areas and these problem statements. So that's what we're going to work on over the next 40 minutes or so. Because we know that we have built something that we as a group can improve on. So, everybody stand up, find a seat in the issue area and you'd like to work on it. Welcome. Hello, hello, hello. Good morning. How're you doing? I'm fine, I'm eight exactly. Coffee time. Coffee time. Your hair is so dry, don't blotch it. No way for it to burn. I can't be good. Anybody go find an answer? Okay, there's some more chairs in the back. Anybody in the chair? There we are, it's a color. Let's look at the art. Let's look at some of the data. The problem states that we all have decided we're going with. The people in poverty need access to funding and the out-existing credit providers. They need chairs to help to start the government. People in developing markets need more and fewer ways of storing their money because the current way of storing them is not that safe. There was another one. 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What's going on guys, it's your boy VPJ here today with another Destiny video and in today's Destiny video I'm going to run you guys through my Titan and Warlock's Prison of Elders loot obtained for the past week. Now I've covered my Hunter which I will link in the video description if you guys missed that video. I've got some epic loot on my Hunter, I've got also some epic loot on my Titan and Warlock. Before we get into the video if you guys do enjoy it at the end if you could leave a like I would appreciate the support. Let's try and reach 3000 likes that would be insane if we could. Okay so we're going to start with my Titan and on level 28 I decided not to use a treasure key, I was saving it for a higher level. So we've only got 5 spirit blooms and 4 strange coins. On a level 32 I've got an armor core, 4 moats of light and heavy ammo pack. The mark of the slayer class item, herb benevolence, queen sniper and a patience and time exotic sniper rifle. Moving on to the level 34. I've got a weapon core and a ferret light, a token of light, 4 strange coins, 5 relic irons, 4 moats of light, a heavy ammo pack and her mercy queen's hand cannon. A hand cannon I actually didn't own and one I really wanted. Okay moving on to the level 35 with my Titan I've got an a ferret light, a weapon core, an armor core, 7 moats of light, 3 strange coins and detection force fusion rifle. One I actually hadn't seen before actually getting it so yeah I'm quite pumped for having that. So overall I'm my Titan I've got some decent loot. I've got a few a ferret lights, I've got a few weapon cores, armor cores, I've got 4 weapons being her mercy, patience and time, herb benevolence and a detection force. Now moving on to my warlock and from the 28 prison of elders I've got a heavy ammo pack, 4 moats of light, 4 strange coins. A hygiene noble sea scout rifle and a universal remote. Moving on to the level 32 I've got an armor core, I've got 7 moats of light, I've got a special ammo pack, I've got a token of identity. I've got 5 spin metal, I've got 3 strange coins and I've got her right hand, queen's auto rifle. One I actually didn't currently own so I was quite happy about that. Moving on to the level 34 with my warlock I've got 5 relic iron, 6 strange coins and a ferret light, a weapon core. 5 spin metal, 3 moats of light and I've also got a payment 6 queen's pulse rifle. Another one I didn't currently own so I'm quite happy with that. Moving on to the level 35 with my warlock and I've got the main prize from the prison of elders. I've got the elder cipher, exotic bounty, picked my weapon and I picked the queen breaker's bolt. Haven't currently got that yet I'm still completing the steps of the bounty but as soon as I get it I will let you guys know about it. I also got an a ferret light, I've got a weapon core, an armor core, 6 strange coins and a heavy ammo pack. 3 moats of light and a hygenobus scout rifle again so I'm not bad whatsoever across my warlock and my titan. I've got quite a few weapons, I think I've got around 8 or 9 weapons, a couple of exotics, plenty of armor cores, plenty of weapon cores, plenty of a ferret light so I'm really happy I'll move here. But guys that is it, that is my loot and results for my warlock and titan from the prison of elders on all levels from 28 to 35. Hope you guys enjoyed the video, tell me what you've got from the prison of elders down below in that comment section. Do drop a like, I do appreciate the support. Also guys as well if you have twitter and do not follow me be sure to follow me at dpjsc08. My twitter is linked in the video description. Subscribe for daily destiny and peace out until next time. Peace!


Everything's happening so fast when you're recovering, you're learning how to walk. When you're here in the mountain, it kind of slows it down and kind of makes you appreciate life more. Actually, around London, close to where I was, which actually resulted in my humming that was nearby, close to the exploding. Shriver penetrated the back by my right ear and they pretty much shivered from the back and they stopped right in my right frontal lobe causing me to, I wish I had a traumatic wind injury and be paralyzed from my left side completely. I was in a coma for two months so I thought I was dreaming. I could process everything. I could hear people talking. I couldn't talk. They didn't think I was going to recover or at least they didn't think I was going to walk, talk or be independent at all. Fortunately with the VA and the other help, I was able to recover and get some type of independence back. Coming here to mountain pretty much changed your whole perspective and life and what's possible and what's not possible. Not just by me doing it but watching other people do it, they inspire me. Everybody goes through something. Even if they're not disabled, they go through some adversity. So seeing people out here in the mountain is pretty inspiring. My third part of the Winter Sports Clinic is the activities but also it's bonding with veterans. It's giving me a chance to connect with them and find kind of a sense of belonging. Without meeting Eric, it never would have gotten to the point it is right now. It was just a click. And the thing was, I can help you and you can help me. And we came together like that because we're vets, man, okay? And next thing I know, he is cluing me in on all of these adaptive activities.  What I would like to do is help people that are going through that I went through because it's pretty difficult. I try to say like, don't take that as that's what you're gonna get. Like I was giving the same way, like I'm never gonna do this and look at it now. Eric is a very nice young man. It's been amazing the progress he's made since his injury. He was told he would not walk or talk again. And now he's out here skiing at the Winter Sports Clinic. It's just amazing. And he's giving back to other veterans now, encouraging them to be strong and progress in their recovery. And that's why he's so deserving of the DAB Freedom Award. Skiing brings a new sense of purpose to your life. Like I can do a lot of things I enjoy being active. Obviously with the help of our professionals, but it's so, it gives every something to look forward to every year. I want to do this as long as I'm healthy. I want to keep doing this. And that's my family.


Moedd ydych yn ymgyrchaeth i ni? Allan o'r amser hynny yn ymgyrch. Le, rym ni'n fydd yn fydd wedi cael cael eu cymaint. Rwy'n nhw'n fydd eu cyfan yn llwyaf o pob oedol. Mae'n siaradau yn ymgyrch oedd gall ni'n ballyig a'r team wedi cael eu gyndedig ymydd yn gweithio mewn ymgyrch. Beth yna efallai sgwrt gennych sefydlu ddisgu'r Llywodraeth, ac mae'n ddysgu'r team arwyf i amser yn y Llywodraeth a'r hyn. ac mae gennym yn gweithwyr o ddau 90 min. Mae gweithwyr ar y ddweud i ddeulog i gael gofyn gropi. Mae gael gwell o gael gwych yn rhaid y bydol fel y clywed i gael gwybod, rwy'n gwneud yn gyflwyno ar y gwaith analogau ac mae'n gweithwyr yn gofynion. Rwy'n gweith rydw i gael gweithwyr ymddangos i ymgeiswyd cyfoenwyr yma ar y gael amdano'i cerddau. Rydw i'n cael ei gweithwyr. Mae gennym yn gweithwyr ar-ŵr yn gweithwyr ond ni'n ei wneud i'r griff wronga. Felly, os gwaith yn mage mwneud tuoddiadau, sortedon i mountedio ar gyflwrwm callol, ac eisiau o'ch chi'n tumb i'r pwg fwy. Felly, os gwaith gennym ei wneud i'w pwg. Felly, os gwaith gennym ei wneud i'w pwg. Felly, os gwaith gennym ei wneud i'w pwg, ond yn dweud i'w pwg, yna'n bod yn fawr, ond o'r rai hynny, dyna ni'n vaithüsu o'r fforddau a'r hynny yn fwy yn fade-freddau Sured on Tuesday night it's going to be vital for us going forward. I think probably the one thing that was made me missing was that cutting edge in the final third. What do you think needs to improve just to get that right? Just a bit of...we spoke about it this morning when we analysed the game looking back. That was the big thing that we needed to be more of a fret in final third and how could we get back behind there back for and more efforts on goal? Just small things, I think really. Rydyn ni i'n ddweudio'r gweithio'r'u gweithio, rydyn ni i'n ddweudio'r gweithio'r gweithio'r gweithio ar y dyfodol, sy'n ystod, a byddai'n gweithio'n gweithio'r gweithio. Mae ydych yn rhoi'r gweithio, nid ymddangos, mae'n gyfrannu cyfraithiaid a'r cyfrannu cyflasig, felly mae'n rhaid i'n ddweudio'r gweithio ar y flwydd. Felly, rydyn ni'n gobeithio'r gweithio'r gweithio ar y gweithio'r gweithio, ... Software, on the other hand, is a little tactical thing. How can we as a group, when the game is like that, when we've got possession, how can we get behind, how can we get more efforts on goal? We looked at that this morning. It's little tactical things that we'll try to do better on Saturday. Of course you are part of that attacking system now. How are you finding it being that little bit further forward? It's better for me to be honest. My natural game is an attacking midfielder and I've always played my best football in my career and I've been further forward. Because I can score goals from outside the box. I can shoot and I can create things. So my natural game is more suited to being further forward. The last couple of years I've played deeper, played more as a holder, which I think I do have the technical attributes to dictate a game from a deeper position. But I feel I can affect the game better from a more natural position further forward, so I'm enjoying it.  Does that help you to enjoy it more, the fact that you are further forward now? Definitely. I have a bit more freedom. When you're playing as a holder you've got to be disciplined and you've got to make sure that defensively you're in the right positions. I've got a bit more freedom now to a bit of a free role. I can go and find the space, whether it's in the middle, whether it's wide. So it suits me better than I enjoy my football better when I'm getting more of the ball around the box and I can create things and try and make things happen. So yeah, it's good for me. I hope we will see you get a few more goals as a result. You got your first one there at Ballet Parade recently in front of the Cup. How was that? Yeah, it was brilliant. The atmosphere was great on Saturday. Obviously it helps when you're winning a game and everyone's enjoying the game a bit more. But I felt the atmosphere was brilliant coming off the pitch, especially after the goal, and we went and scored more. It was brilliant, so yeah, I loved it. In terms of goals, literally a number of goals, how many are you looking to try and get now?  I'd love to score as many goals as possible, help the team get the wins, but it's about the team winning. So if it's someone else that's scoring and we're winning and more than happy, it's not about me as an individual scoring. Although I'd love to do that and I'll do my best to do that to help the team, but I'm just focusing on the points. Just on that overall belief, just going back to that, what scary book have you done since he's come in to help transform that a little bit? It's had to pinpoint one thing. I think that would oversimplify it. I think he's come in and really lifted the place by a lot of things that he's done. I think his style of management is high personally. I think it's very good. It's a lot of stuff that he does that I can relate to that I think he's doing the right things. I think he's been brilliant coming in so far. He has lifted the place here and everyone is sort of believing in what he's trying to get us to do and feel like we're good enough to do it. He's been brilliant. I think one thing looking at his team seems to be a lot of work, right? A lot of running in these first two games of him in charge. Are you enjoying that or is that a bit knackering a bit much? We're all capable of doing it and I think we're in a relegation battle. The very least that we need to be doing is giving our absolute 100%. It's not necessarily just running around the pitch aimlessly and losing shape. It's having a defensive structure and everyone knowing how to contribute to that in the best way. If that means pressing from the front and pressing the keeper then that's what we do and we do it together. If it means running back then that's what we have to do. He's given us a structure so that we all know the principles of what we're doing and why we're doing it and then we have to go out there and give 100%. Based on that structure, when you compare obviously the Walsall and the Ports with the last two games, can you believe how much it's changed in that sense in terms of solidity? Not really, no. I think he comes in in us football. He's got very good ideas and his philosophy is to play football but to work hard as well. That's the basics that he wants us to do. He's just come in and from day one it was organisation and shape and structure and something that we've probably been missing before. He's given us that from day one. All the lads are very receptive to taking it on board. I think it's been evident in the two displays that we've had so far. If we can get better and we can keep going as well, we've got nine games left to get as many points as possible. We need to go against Saturday. It's a big game for us. We need to win. How big a game is this one now against Oxford United? Another team obviously looking to try and avoid relegation. Yeah, it's huge. I think teams relegation, they always say six-pointers. When you're playing, the team is in and around you. It's vital that you get the points against those teams. Obviously Oxford are in and around us so it's a massive game. We're all aware of that but we're all confident that we can go down there and get the free points. Personally, I'm looking forward to it already. I can't wait to get down there.  Positive attitude and I think we can go there and win.


In our previous classes on strategy, the purpose of those classes were to first give an understanding to the concept of strategy, why there is a need that organizations need to have a strategy in place so that they have a value proposition which is unique and continues to remain unique for a long period of time. And this in the strategic paradigm we call as a sustainable competitive advantage. And organizations would always want to have a long term sustainable competitive advantage. And for this from a very broad level we understood what sustainable advantage is, what is the meaning of creating a value proposition and some generic models to understand how these generic models are applicable across industries and hence all organizations need to understand some of the factors, the behavior of some of these factors in these generic models. And some of the generic models that we saw were the Porto's five forces that we use for industry analysis, the value chain analysis, the Porto's diamond, then the BCG matrix. So these are all some of the generic analysis framework that many organizations use. And in addition we also saw the SWAT and PEST analysis which was more environmental analysis. Now after having done all of this organizations definitely need to have some unique strategic direction. By strategic direction I mean a workable proposition, a framework which provides a sense of direction. And this framework is more or less aligned with the mission of the organization. And all these generic models will provide the underlying basis on which these strategic framework are being designed. So we need to understand that it is not just these generic models that are enough for an organization to put a strategic framework in place. There might be different strategies for different organizations for different points of time. But one thing that ties all of them together is that they would be using all or at least any one of these generic models when they make an attempt to put a strategy in place. And that is why we do all this study. For example an external analysis, an environmental scan. This gives an idea of what the firm might do considering the way in which the external factors behave. Then an internal analysis and for external analysis you do the PEST framework or you also do the industry study analysis or you might do the Porto's diamond to understand how a particular geography behaves. And more specifically an internal analysis like a SWAT will give directions that point to what the firm can do. So when all these external and internal analysis is done there might be some factors that shape the way in which organizations have to design their strategy. Such strategy shaping factors which emanate from such external or internal analysis, they combine together and stack up either to positively influence or also some factors that have some negative influence. A combination of these strategy shaping factors from an external and an internal perspective, these form an ideal input that is given to an organization using which organizations can identify various available strategic alternatives, strategic models. And then based on how these factors stack up against each other, organizations evaluate and choose a particular strategic alternative. And having chosen a particular strategy to be implemented then comes the implementation plan. And once it is implemented again this is a continuous process. We collect feedback and again evaluate whether things have happened in the way in which organizations wanted them to happen. And again do this analysis to see whether we need to choose an alternate strategy than the existing one and this iterative loop continues. So we need to understand that in addition to the external and internal analysis every organization will make an attempt to have a strategy per say for them which is unique to the organization considering the way in which these external and internal factors influence the operations of an organization. To put it short and simple, an environmental scanning both internal as well as external provides those critical inputs based on which a particular strategy is formulated chosen from amongst various strategic options that are available and after a careful evaluation a particular strategy is chosen and then implemented and the result of the implementation is evaluated and this feedback loop will either prune down or improve the strategy in place or probably bring in a new strategy from the available options. And one thing that the organization should not lose focus is that any strategy that it chooses to implement it should be in alignment with the mission of the organization and only then there will be a buy in there will be an organizational buy in to the entire strategic formulation and all of this will push the organization in the direction which the overall vision of the organization has set for itself. Now strategy is not something that necessarily has to exist just at the corporate level the corporate leadership level. There is strategy at all levels in any organization and typically a corporate strategy will be a strategy for corporations or conglomerates which have diversified businesses in place. So you might have a strategic model that uniquely is applicable for corporations and conglomerates. A business strategy for a strategic business unit within a corporation or you might also have a functional strategy which is applicable to some functional units within an organization like for example it can be a research and development unit or it could be a marketing strategy, it could be a finance strategy. So these are all strategies that are applicable for individual functions within an organization. You might also have operational strategies which could be based on the regions in which they are operating or the departments within a function. So these are all operational strategies but all of these strategies whether at the operational level or at the corporate level all of them will be reinforcing either from the corporate to the operational unit or from operational unit to the corporate level either from top to bottom or bottom to top all of them have to be positively reinforcing only if they are positively reinforcing will that be a perfect alignment with the organization's mission and vision. And as a result of which if you are able to identify strategy at different levels it is also easy to see how these strategies are implemented as a result of which we know we can measure the responsibility of implementation of these strategies at each of these levels. Now the very fundamental unit that ensures that a strategy is implemented comes from a resource perspective. We need to ensure that organizations or firms have resources that are adequately available to make sure that the strategy is implemented. And these resources are basically inputs to a firm's process and any resource that creates value in the process can be considered to be a firm's resources. So it could be either a tangible resource or an intangible resource a tangible resource in the form of finance or capital or physical or human resource or an organizational resource itself or could be an intangible resource which could be technological in nature or the innovation DNA of an organization or the brand itself could be a very strong intangible resource for the firm. But we must ensure that there is synergy a coherence synergy amongst all these resources tangible or intangible and these resources can also be internal as well as external resources of a supplier could also be critical to a firm. If you take the example of IKEA a world renowned furniture retailer there are a number of resources that are linked into the value chain of IKEA and this linkage of all these resources and the coherence synergy that exists amongst all these resources ensures that IKEA is known to be a low cost manufacturing of modular furniture with differentiation from a customer service point of view. I do not want to elaborate on the value proposition of IKEA but it is enough for you to understand for the purpose of this session that it is the synergy that exists amongst various resources, resources tangible or intangible within an organization, resources tangible or intangible outside the organization and the combined synergy of all these resources is primarily responsible for IKEA to put in place a value proposition as a result of which it feels that it provides the organization a long term sustainable competitive advantage. Now there are a number of strategic options available but I will be dealing with four popular options namely Michael Porter's generic strategies, core competency of Hamel and Prahlad. There is also another product market grid called the Ansoff's product market matrix and finally the blue ocean strategy. And these are the four broad strategic options, models that I will be elaborating for the purpose of this course. At the same time you must be aware that there are a number of other strategic options or we can also create a new strategic option if we feel that we are creating something new that is not existing. But I will be spending time on these four strategic models which I think is popular amongst management professionals. The first strategic model is the Ansoff's matrix and this gained popularity when it was published in the Harvard Business Review in 1957. The fundamental to this model is that it presents four options for an organization and these four options come from a matching of two variables namely the products and the markets. And any of these four options that are chosen sets the clear direction and goals for the organization to move forward. Now let us see how these four options present themselves. Now this is a match between products and markets, subdividing them, a match between existing products, new products and existing markets and new markets. So if the map is between existing products and existing markets then we call it a market penetration strategy or if it is between new products and existing markets it is a product development strategy. Likewise existing products and new markets it is a market development strategy and between new products and new markets a diversification strategy. And each of them can be chosen by organization based on what they think is critical for their long term future. Now the first thing is market penetration which is existing products and existing markets. Now firms would like to embark on this option and firms which use this will ensure that they have the resources in place that change a chance client or an incidental customer to a regular customer or an existing client or a regular customer to heavy user customer. And there are different ways of doing this so once you decide that I am going to just use my existing products for an existing market then it means that you have chosen the market penetration strategy. Now having chosen that how do I do that? So a firms resources must be tuned towards a market penetration strategy for example the firms resources must be towards having some promotional and marketing campaigns like volume discounts or loyalty cards or fake run flyer programs in the airline industry or improved customer relationship management. Now the reason that these are all the alternative options that are available is because I have chosen market penetration to be a strategic option. One fine example could be the Cadbury chocolates. Now you see recently that it is not just a chocolate that is consumed as a sweet drink. It is a good delicacy for internal domestic use. It is increasing its market share by changing the positioning itself as gifts. Now you see Cadbury chocolates in gift packs which could be used as festival gifts or birthday gifts or teachers day gifts whatever the case may be. So no longer it is been perceived only as a domestic or only as a sweet that is consumed by an individual. Now the market penetration strategy is ensuring that this new positioning is increasing the market share within the same market using the same product. The second option is the market development option. Market development is about existing products in new markets. Now we need to introduce an existing product in new markets which could be a foreign market or probably in a new brand in a new market segment that is also a market development. Some of the popular examples could be the oil in sachet, the sachet oil for a new market segment for a frequent traveler or a tetrapack or if it is going to be a new geography the export markets or Apple the same product in new markets. Apple launch in the US is available in India as well. New markets same products. So organizations that would like to use market development as a strategic option will ensure that their resources are optimally used to sell these existing products in new markets. The third option that is available is product development. Product development is new products in existing markets which means you can either on your own create new products or add new products from others, others new products to existing clients. It is sold through you. So it could be an accessory or add-ons or just completely new products. Popular examples could be the McDonald's salad. It is a fast food chain but then a new product in the form of a salad which is something new to the culture of McDonald's or you might see now bank selling complimentary services like insurance and credit cards. This again it is a new product but to the same market a salad to the same market in McDonald's and insurance policy to the existing customers of a bank, a credit card to the existing customers of a bank. So it is new products for the same market for which resources have to be aligned to and the last is diversification. And this diversification can happen in various directions in horizontal which could be a new product in a current market or a vertical integration, a vertical diversification either backwards or forward in the value chain. So it could either move forward towards the customer direction or backward towards the vendor's direction or it could be a concentric diversification which could be a new product which is related to a current product in a new market or it could be a conglomerate which is the classic diversification which is entirely a new product in a new market. An Apple, the Apple company is a very good example. It started with just laptops and you see the way in which it has diversified into different product ranges. So the choice of choosing a particular position in this product market grid determines the way in which the resources within an organization will be used and the way in which organizations will change their implementation part so that an identity is not lost. And the answer of business matrix can also be compared with an individuals, I call it the personal matrix because running a business is similar to taking personal career decisions, personal career choices.  That is the most, that is the least risky proposition, no risk. But when you need to grow you need to take a little risk and businesses need to grow so would individuals also need career growth. So business growth is synonymous with career growth and when you take for example a career growth it could be a new role in the same organization itself or a same role in a new organization or in a different industry altogether. You could be a marketing expert in an organization and then finally at one point of time decide to become an operational expert or a strategy expert in the same organization or you could be the same marketing expert in a different industry or you could be a strategy expert in a different industry altogether. So you will be able to appreciate this difference. So as you take different decisions there are different risks, different ways in which you would change your behavior because each of them will have different ways in which you as an individual will have to change yourself to meet the new needs of this new role. Just as businesses whether it is product development or market development or diversification or market penetration they have to use their resources effectively based on which position that they take in the grid. So each of this will definitely have differing risks at different levels and to understand this answer of matrix better I will also present a small video that gives you examples of four organizations, four products that fit in each one of this grid so that you understand this better. But the broad understanding that you have to have in this answer of business matrix is that organizations choose their strategy from this model either to be a market penetration one or a market development or product development or diversification based on what the vision of the organization is, what the vision of the organization is. So when you have some grid of this type in place it ensures that you do not lose direction when it comes to implementation of the strategy. Just a quick snapshot, market penetration as I said before it is selling more of the same things to the same market the same product to the same market and this you could either do by advertising aggressively to encourage more people within the existing market to buy more of your products, increase promotional activities like the loyalty schemes or very simply you can also buy a competitor company assuming that the industry becomes matured over a period of time. Product development selling more things to the same people which could be just done through product extension or through different packaging or develop related products or complimentary services and market development is selling more of the same thing to different people to different markets new market segments in different geographies. So you could target different geographical markets or target use different distribution channels to target different user segments online sales for those who are tech savvy that could be a new market segment itself because you are going to sell the same thing but through a new distribution channel and lastly is diversification this is a little risky not because it is going to consume a lot of resources because it does not use the existing expertise because diversification is about new product and new market for which very little of existing expertise comes handy because you are trying to sell something that is completely new to a set of completely new customers. But the main advantage is that corporations that have this diversification strategy in place will have a fall back option during adverse situations where one business unit fails there is likelihood that the other business unit does well so that as a corporate entity things are not that severe. So this just presents you a snapshot of the answer of product market grid the next strategic model is Michael Porter's generic strategies of this again is a very popular model that many of the organizations use we all know that the primary determinant of a firm's profitability as I said before depends on the structural attractiveness of the industry and this we measured by way of this Michael Porter's five forces industry that becomes the primary determinant how structurally attractive this industry is you also have a secondary determinant which is the firm's position within the industry. So a firm's position within an industry becomes a secondary determinant and assume that the industry is below average profitability industry we need to optimally position the firm so that you gain superior returns. So only if you are able to position a firm optimally will you be able to gain superior returns and this you can do following three different generic strategies that Michael Porter's suggest. Now every firm positions itself as much as possible by leveraging the strengths that the firm has and Porter's generic strategies relies on the fundamental fact that broadly there are two sources of strengths either it comes from cost or differentiation and these two sources of strength can extend over a narrow scope or a broad scope. So it is the strength plus scope that gives these three generic strategies which can be applied at each of the business unit level and these are generic because it is not specific to a particular industry or a particular firm or a particular business unit. You can have a corporate you can have a corporation where each business unit can have any one of these three generic strategies. So it is not specific to a particular corporation or within business units you will have different products that which will have three of these generic strategies amongst themselves but that must not be confused as a particular business unit having three different generic strategies about which I will be talking later. The three generic strategies that Michael Porter identifies is fundamentally from the two strengths namely cost and differentiation the ability to do something low cost the ability to provide a unique value proposition in the product or service that is being delivered and thirdly focus the ability to concentrate within a limited niche market segment and narrow market segment and by focusing within this narrow market segment you can either choose to be a low cost or you could also provide differentiation within that focused market. So the generic strategies boils down to cost differentiation and focus and in focus low cost or differentiation. So this is the Porter's generic strategies the first thing is the cost leadership strategy namely the low cost. It means that as an organization that would like to be that would like to have a cost leadership strategy will ensure that it is the low cost producer in that industry for that level of quality which means quality is not compromised but there is something inherent in the firm that ensures that it is the low cost producer which means that the firm is capable of selling its product either at average industry prices to earn a profit higher than that of rivals or it is capable of selling at below average industry prices to gain market share and this you can do only if you are a low cost producer and what is the advantage of that. During times of price war you can still maintain profitability when competition suffers losses because you are already the low cost producer or assume that there is no price war that the industry has matured or there is a price decline itself still low cost producers will remain profitable for a relatively longer period of time and usually a low cost strategy targets a broad market because it needs to be volume driven usually though in focus you still have low cost strategy by a large low cost strategy targets a broad market. So organizations can choose to take the low cost option as a strategic option and having chosen that how do they acquire those cost advantages they can do that by either improving the internal process efficiencies improve processes that is where I said the resources that are used within an organization are used optimally and effectively to ensure that there are process efficiencies which dry down cost or gain access to a large source of low cost materials strategic relationship with vendors to ensure that they are able to get raw material at competitive prices or a decision to simply optimally outsource or vertically integrate or avoiding some cost altogether like for example McDonald's it makes its menu very simple so that it does not have to hire some of the best chefs in its fast food chain so it avoids the cost altogether. Now as a result of all of this if competing firms are unable to lower cost then there is a competitive advantage which is based on cost leadership. So when firms decide to use cost leadership as a strategic option they tend to do any one of these to ensure that their cost of providing a comparable product or service is lower than competition. Now how do I build those strengths some of them that are inherent let say access to capital market is capital is definitely an important resource because you need investment to create assets and if you have favorable access to capital markets that by itself could be a barrier for entry that many firms will find it very difficult to overcome and access to capital at competitive price by itself will reduce cost that is why you can understand how important brand is especially when you are raising capital in the equity market or the debt market or organizations will have specific skills in designing products and this example you can see in the manufacturing the inventory control mechanisms in the manufacturing industry especially the Japanese auto manufacturing this has tremendously reduced the costs and the advantage of these Japanese firms lies in the specific skill that they have to ensure that the inventory that it maintains is very optimal as a result of the overall cost structure goes down or some organizations build cost leadership strategy by having high level of expertise in the process that they are providing you can see this in the low cost airlines or some drive down cost because of an efficient distribution channel del is an example coke or walmart so these are organizations which have a efficient distribution channel as a result of which they are able to drive down cost remember all of this is done with a view to reduce the cost of delivering a product or a service so it is this understanding this direction that we are a low cost and hence all our resources need to be utilized to ensure that whatever it does it is able to reduce some cost if it is was x it needs to provide some delta x so that by doing this the cost reduces to x minus delta x and you have number of examples of firms that are that are symbolic of cost leadership and classic example is in the airline industry the decan airlines here or the south west about which I talked in my introductory classes or mcdonalds walmart or tesco in their multi brand retail or research outsourcing itself is a cost leadership example firms like unilever or GE they outsource their research capabilities in india not only because of the intellectual strength that the country has but also because it is cost competitive and it is the same cost leadership example that explains the success of indian software companies because we are capable of software development at competitive price so these are some popular examples of how organizations use cost leadership as a strategic decision and build strengths within an organization that always tries to reduce cost having said that there is also some limitations for organizations that have cost leadership as their singular focus whether it is sustainable it may or it may not be other firms may also be able to lower their cost as well because best practices are always available and as long as those best practices those low cost strategies are easily are not imitable then it is sustainable over a long period of time but if it is not then other firms may be able to lower their cost as well or there might be a disruption in technology where there can be some leapfrogging activities that can bypass some of the activities which heatherto firms were doing cost effectively then it no longer can be a sustainable competitive advantage because you have a technology substitution that leapfrocks a set of activities or on the other hand some firms following a focus strategy and might be targeting various narrow markets may also have the capabilities of achieving lower cost within their segments and as a group within themselves they can gain significant market share so you can still be a cost leader you can be a cost leader but be aware of the fact that there are limitations and that one of the major things that you will have to look out for is that competition can also be able to lower their cost as long as it is imitable or doable so the first thing that we saw was the cost leadership strategy the second strategic option that is available is differentiation strategy as I said before differentiation strategy is again applicable for a broad scope just as low cost is also applicable for a broad market scope so the target scope is very broad they need to differentiate a product or a service arises from the fact that there is always a group of customers who would be willing to appreciate the differentiation that the product or service is capable of providing as long as there is a presence of a sizable share of such customers there is incentive for organizations to differentiate there is no point in differentiating a product or a service and there is only a handful of customers who appreciate this differentiation so next class I will be talking about the other two strategic options namely the differentiation and the focus cost leadership ensures that organizations inherently build a mechanism where the resources are optimally used to ensure that whatever they are doing either as a process or as a design or as a selling and distribution whatever value chain activity that happens in an organization the fundamental requirement is that it has to be cost effective and if we are able to provide that cost competitiveness across all the value chains the aggregate of all these delta x's will provide a unique competitive advantage from a cost perspective that will help organizations to either command a premium or at times of price war or stages where the industry is matured they can still be able to reduce the prices when competition cannot do that because they are not low cost so this low cost has this advantage and at the same time some limitations which organizations have to be aware of so next class we will talk about differentiation and focus thank you.


After watching the GLM videos, you must have the question of, should you use these models, and if so, when and why? And that's the question that I will answer in this video. The question number one, out of two questions of whether GLM is required or is useful, is transformation required? So what do you think is the nature of the relationship with your independent variable and the dependent variable? Is it linear and additive? So do all the independent variables work separately so that the effect on the dependent variable is their sum? Or is it exponential and multiplicative, which means that you multiply the effects of independent variables together to get the effect on the dependent variable? Or is it perhaps the S curve when the effect is first very small, then increases, and then it's very small, because everybody is at 100% already? So this is a question that is about theory and what kind of relationships you expect. It's not about question of how the dependent variable is distributed. So this is primarily a modeling decision, not a data decision. My practical recommendation is that you should always start with linear recursion analysis and then do diagnostics, do an added variable plot, do a residual versus fitted plot, and see if there is evidence of nonlinearity. If there is, then you consider these alternatives. Of course, you may have a strong theoretical reason to believe that an exponential model or an S curve model is preferable, but still doing the recursion analysis is very cheap. It doesn't cost you much time, and it'll tell you something that you didn't know before most of the time. So starting with recursion analysis is a good idea. Then the third consideration is that some textbooks and some articles say that you should transform the dependent variable to reduce heteroscedasticity so that your standard errors will be correct. And this decision has nothing to do with standard errors whatsoever. This is not of which transformation you apply. It's driven by theory. What do you think is the best explanation for the data and the consideration for standard errors is secondary to that? And you can always use robust standard errors to deal with any heteroscedasticities anyway. So this is driven by theory, not about standard error consistency or about the kind of data that you have. The next question is that once you have decided that you want to transform your dependent variable somehow, you can also transfer independent variables, but this is mostly focused on the dependent variable. Should you transform the dependent variable and then apply regression on the transform values, or should you apply generalized linear model, where you transform the fitted value instead of the dependent value? There are simple points for and against both decisions. Simple points for transforming the dependent variable is that it's simple to do. So there are no computational issues. Recreation analysis will always give you results. And you can also use OLS diagnostics. So regression analysis diagnostics are very useful. They are more developed than diagnostics for GLM. And you can find more resources on how to do those. Also, regression analysis is well understood. For example, the nature of multiplicative effects, as I explained in previous videos, is something that many researchers don't fully understand. So regression analysis is more commonly understood by readers and reviewers than GLM. There are points against transforming simple points. Transforming a variable with a few discrete values is problematic. If you have a count variable with 1, 2, and 3, then trying to do some kind of inverse Poisson transformation on that wouldn't make much sense because it still has three discrete values. If you have 1s and 0s, the binary dependent variable, transforming a binary dependent variable will give you another binary variable. So it doesn't do anything. And then you have the issue that if you want to, for example, explain company size and you want to explain that with an exponential function, some companies have zero revenues. So how do you deal with those zeros? Because you can't take a log of zero. And then you need these awkward work rounds where you add plus 1 to the dependent variable before you take the log. So these are simple points against transforming. There's a more rigorous way of looking at this issue. Let's look at this GLM model and the transform model. Typically, we are interested in explaining what is the mean of the data or the expected value of the data given the independent variables, in which case we look at the nonlinear regression model. If we apply this transform dependent variable model and we treat this coefficient here as if there were estimates for this original model of interest, then they are actually inconsistent. So the transform equation is an inconsistent estimator for the original equation. So statistically thinking, you should never transform the dependent variable. You should always use the GLM because the transform variable is inconsistent estimator of the GLM. That may not be enough to convince all the people, but let's take a look at examples. So I have this data set here. This is the prestige data set that I've used before. And we have the distribution of income for professions that are more than half men and distribution of income for professions that are less than more than half women. So we are men-dominated and women-dominated professions. And we are interested in knowing whether men-dominated professions make more money than women-dominated professions. And this is something that we would typically want to answer with men make 20% more or 50% more instead of saying that men make 4,000 Canadian dollars because the percentage is something that we typically think in these kind of comparisons. So how do we do it? When we look at percentages and we do transform dependent variable regression analysis, we get some estimates here. Then we can calculate predictions using these estimates. So the predicted lines are here in the equation, in the plot here. We can see that the predicted lines here are less than the actual sample means. So the model predicts, the sample means a bit incorrectly. It predicts them too low. So they are predicted in erroneously. And they also, the model predicts the difference between the men and women, when men and women-dominated professions to be smaller than what it actually is. So both the actual means and the difference between the means are predicted incorrectly. The difference is not great, but it's noticeable. So based on these considerations, the GLM approach should always be preferred over transforming the dependent variable. Of course, doing the transformation of the dependent variable using OLS, doing the diagnostics, that's a good starting point. But in the end, doing the GLM is more rigorous and that's what your final, the end product of your research should be. There's a nice blog post about this from William Gold, who is the founder of Stata. And he makes a strong case and with some nice references that that's actually how you should do it. So don't log transform the dependent variable, use the Poisson GLM or QIML estimate instead and with robust standard errors. That gives you better estimates than the regression on the transform dependent variable. So what are the practical recommendations? Once you have decided that you want to use one of these transformations, then what's the modeling technique that you should apply? So linear additive model least squares always, no reason to use anything else. That's OLS is the best and weighting least squares could be slightly more efficient in some scenarios, but it's not worth therefore to do that. If you have exponential model with multiplicative relationships, then if you know the distribution of the dependent variable, given the fitted values, then use the maximum likelihood estimation of the generalized linear model with the correct distribution. So if you know that it's Poisson, you know it's negative binomial, you know that it's something else, then apply the normal GLM. If you don't know what the distribution is or you're uncertain about the distribution of the dependent variable or you know that it doesn't follow any of the distributions that your statistical software supports, then apply Poisson quasi-maximal likelihood estimation with robust standard error. So this is kind of like, it's a similarly safe choice than using OLS is for the linear model. For the S-quare models is the same thing. If you know the distribution, so if you know that you are using fractional response data and you know that the dependent variable is beta distributed given the predicted values, then use a beta recursion analysis, so maximum likelihood GLM with the correct distribution. Otherwise, if you don't know the distribution of the dependent variable, then use a Bernoulli quasi-maximal likelihood with robust standard errors. So if you have fractional response data, then basically I would always recommend that you use just the normal logistic recursion analysis for that because it works. You would think that it doesn't, but it actually does as long as this approach has been a program to your computer software. Now, this has nothing to do with the transformation of the independent variables. So this is about the dependent variable. Transforming independent variables is okay and you can consider the log transformation or sometimes even exponential transformation of the independent variables to get the model that you think explains your data well based on your theory and then you estimate it with either OLS or GLM. This is more, this is about what you do with the dependent variable. The final question is that are, is this GLM and transforming the fitted value versus transforming the dependent value? Is it a big thing? So let's do an empirical example. So we have here two models. We are using the Prestige data. We have a years of education here. We have the predicted predictions from these two models, transform dependent variable and GLM effects on income. When we look at the regression coefficients, we can see that there is a 7.5% difference. So this is 1.0.19, this is 0.128. So 7.5 difference that is substantial in many methodological papers. We think that 5% bias is something that you can ignore, but this is 7.5% difference, something that we should care about. Also, when we look at the predictions here, we can see that the transform dependent variable systematically under predicts how much there are professions that require high education actually make and this blue line here is a lot better fit to the data. So that's empirically, it's not a huge difference, but it's something that I think we should be concerned about because the fix is rather simple. Now the final question is that if and when I get papers to review what authors use a transformation on the dependent variable, should I recommend that those papers are rejected because they don't use the GLM approach or quasi-maximal ideal estimation of Poisson instead of the transformation of the dependent variable? No, I would not say that this red line is worthless. I'm saying that the blue line is better and I would probably recommend that authors to take a look at some articles that are cited here that explain why the blue line is better than the red line and then tell them to make an informed decision.


Right there, right there, coming up, coming up, over here. Oh! Ha ha ha! Ah! Ha ha ha! What is that? You guys, get down.  Got Jude out here, say what's up, Jude. Kent, I haven't done a dove hunt in a while, so I'm actually pretty stoked to be out here. John and Cole are down there at that end. We're right here by an almond orchard. There's birds everywhere. Makes it quick, I'm getting off here and loading my gun, let's go. I flared him. No. I got one. That smoked him, huh? That smoked that, baby. That 28 gauge. Poppin' that, poppin' us. Stick him up, boy. Kill! Well, first shot, OK, now I can miss. Now you can miss. Let's finish her. OK, though, you go like that. Sure? Yeah, go, go, go, go. All right, stick him up, Jude. Get down. He might be a little light. I think it's on this side, Jude. Oh, you're getting smoked out the fence, sucker. Oh, my snapbook. I tried to do a quick boo-boo. Oh, yeah, this is you, dude. I'll just, I have my gun right here, just in case he. No, if you take him. That's going to be you. Oh, man, it's so close. I'm so worried at that spot. Yeah, you probably delayed longer than you normally would have. Boy, that's delicious. I don't know if I want to eat that far nut. There you go. Babe. Go, go, go, go. Oh, man. Where'd he come from? You know what? I think he was sitting in the tree. That's what I like about that duck's full turn. Oh, wake your kid. Oh, man. It's has a cup on it. He's going to get a little wheeze over there. Yep, yep, yep, yep. Oh, nice. Smoked him. There we go. Oh. That was loud.  Dude, that was, that's making my ears. I told you to make your ears room. Hey, is it, is that thing getting a good video over there? Hey, shesh. Did you get him? It landed on the fence and he missed it on the fence. No. I promise. No, can't. One land on the fence. Hey, what's up with that? You want to cheat or you want me to eat it? I missed him. There you go. Oh, I mean it was a bad. Oh, he stayed in the tree, dude. Here, let me get him. It was a bad. I didn't clean. I didn't clean. Kill him clean. I can't hit him.  You got the beef again? Look at those feathers. I shot just a little behind them. All right, give us an update. It's been a good morning. It slowed down, but we are still hopeful. Yes, very hopeful. You got 14 and you got five. I almost did a limit. I almost, for the first time, did it under a box. And for 15, that's pretty good. You can still do it in what, 26? Yeah, 26. Another chance. And you, what were you shooting that 20 gauge? Yeah, I shoot the 20 gauge. I have actually never shot a 20 gauge opening day. Watched on 12, so. What do you think, dude? I'm in a good day. And I am shooting. And I'll eat those cordobas, so. Yep. Good day. Oh, this is it. This is it right here. Can't call. He's coming. He's coming. And now. Oh, Kenneth Ray. No, that was, that was. What if it takes you like 10? This is where it all goes downhill. Yeah, one more. And then, cool. I had one more shell left and I did it in a box. One more to came right here, dude. I don't even know what I did. But yeah, obviously. You need to make a video of my straight whips. Right there, right there. Behind it. I don't know if I was behind or in front. And I can't even see. Oh, where'd he go? Right there, right there. He's coming up, coming up. Over here. Oh! Man, I actually let him pretty far. There you go. That's what we wanted to see. I only did one, I only did like one or two this morning. The rest of it were just like. Ain't nothing better than that right there.  For those close shots. Nice shot. Time of the day. Coconut berry red bull. Here you go, go. Hey, we got a wild nice. Um, I got one. Good girl. Nice, good shot. Cargo. If the trigger's gold, the bird will fold. Touch him up, Coco. Here, double. Finally, dude. What were you saying earlier, Cole? I said that was the worst of that ever. Trash. The funny thing is that we still killed, let's do the math here. I got eight, he got 15, that's like three. 23, 36. 46, that's still 46, it does for four guys. Yeah, we didn't come out here and he was killed. Done by 7.30 o'clock. 7.30 last year, before that 8.45, a lot of year before that 10, 10 o'clock. Last year, Ken Nathaniel both limited by 7.30 and both of them shot underneath the box. 15 though, so it was like. Yeah, the thing I shot under the box. We'll cap that. But either way, we still had a good day. Still a good day, huh? What do you think, Ken? Hope you guys enjoyed this video. See you on the next one.