Operations and Logistics Management - 3441 Words

OPERATIONS AND LOGISTICS MANAGEMENT Submit: 18/08/2008 TABLE OF CONTENTS Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 03 Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 04 Operations strategy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 05 Operations competitive dimensions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 06 Capacity†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 07 Location†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 08 Total Quality Management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 09 Flexibility†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 11 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 12 Recommendation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 13 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 14 EXECUTIVE SUMMARY Operations Management is concerned with the managing of resources and activities that produce and deliver goods and services†¦show more content†¦They reuse every leftover material in one way or the other. IKEA has over 9,500 products under its name (IKEA, 2008). The firm has a total of about 12,000 products in the entire product range. Each store carries a selection of 10,000 products, depending on store size; and the core range is the same worldwide. IKEA has over 200 stores in 30 countries around the world. This requires exceptional logistics and outstanding support staff as well as the best solutions. Europe is IKEAs largest purchasing market. In all, IKEA has 1,600 suppliers in 55 countries, and trades through local IKEA purchasing offices in 33 countries. In order to make sure that the operation management remains intact and at its most efficient level, it must incorporate the best technology and the right people. OPERATIONS STRATEGY The trend toward an integrated world economy and global competitive arena is forcing companies to design products for a global market, and to rationalise their production process so as to maximise corporate resources. Companies must coordinate their functional activities within a coherent strategy that addresses the global nature of their business. Unfortunately, when it comes to corporate strategy, most operation and logistics functions remain relegated to traditional tactical roles. Top management views operations and logistics as tactical in nature, design strategy without their input and relegates them to a cost-minimising role. There are manyShow MoreRelatedTesco Logistics and Operations Management584 Words   |  2 PagesWhat is operations management? â€Å"Operations management is key to achieving competitive advantage for organizations, whether they are in manufacturing industry or service industry. 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Globally, logistics management is a tedious endeavorRead MoreLogistics Management And Supply Chain Management1125 Words   |  5 Pages Aero Marine Logistics Tomer Dicturel California InterContinental University Aero Marine Logistics Introduction During last two decades, the importance of logistics has been noticed around the world. In global markets, the effects and further developments of logistics and supply chain management for corporate success has increased significantly that result in a large amount of companies have taken actual benefits in logistics, such as reducing costs, enhancing customers satisfactionRead MoreLogistics and Supply Chain Management1168 Words   |  5 PagesTopic: Do the terms, ‘logistics management’ and ‘supply chain management’ have the same meaning in operations and why logistics management might be of strategic importance to a manufacturing or service organisation. During last two decades, the importance of logistics has been noticed around the world. In global markets, the effects and further developments of logistics and supply chain management for corporate success has increased significantly that result in a large amount of companies haveRead MoreInbound, Outbound Logistics1485 Words   |  6 PagesAbstract Logistics is the management of the flow of goods, information and other resources, including energy and people, between the point of origin and the point of consumption in order to meet the requirements of consumers. Logistics involve the integration of information, transportation, inventory, warehousing, material-handling, and packaging.. Table of contents Abstract Table of contents Introduction Read MoreLogistics Of Logistics And Transportation1304 Words   |  6 PagesRole of Logistics and Transportation Kevin D. Walden Park University Ms. O’Quinn 29 November 2014 Logistics contributes to and moves the entire economy. Economic developments in recent years have led to the creation of complex company networks and systems of goods flow – in the process, the globalization of procurement, production and sales as well as the division of labor have increased. In addition, the complexity of international logistics systems in many sectors has grown as a result

Public Policy †Agricultural credit Free Essays

Agricultural policy is a set of rules that are related to domestic agriculture and imports of food products. The governments of every state implements these set of rules with the aim of brining about a sound stability in the domestic agriculture   markets and to protect the interest of the farmers from supply levels, price rise, land use and agricultural subsidies. The agricultural subsidies, loans and other forms of credits that are offered to the farming community is money paid to them at subsided rates in order to help them overcome the issues of rising maintenance   and production costs, supplement their incomes, and protection from inflations. We will write a custom essay sample on Public Policy – Agricultural credit or any similar topic only for you Order Now For example, the United States Agricultural department, reviews its policies every two years and agrees to subsidize a dozed commodities every two years. Between the period of 1996 and 2002, an average of $16 billion/year credit was paid to the farmers at subsidized rates. According to the people who favor agriculture credit to farmers, the credit policies and agricultural subsidies offer farmers extra income and market protection. It also helps the farmers to compete in the international market For example, in the year 2002, the United States paid an extra 52 cents for every bushel of wheat, and at the same time also promised a price of 3.86 from 2002–03 and 3.92 from 2004–2007. Experts who oppose these agricultural policies laid down by the government, argue that the farmers do not need such grants as they have already got a fair deal. They continue that there are equivalent risks in other business as in agriculture, so why is the farming community given more benefits BACKGROUND – The main aim of this paper is to study the public policies towards the Agriculture credit and the future prospect of funds and other lending programs that can be available for the agricultural banks. It is believed that these federal policies related to agriculture credit can lend an important role in determining the stand of the different lenders in financing the agriculture sector. Credit has become a significant instrument of the agricultural policies and most of these policies with time have given guaranteed competitive loan rates on these funds, thereby giving a helping hand in the process of transformation of the agricultural sector into a highly modernized and capital efficient one. Most of the farmers are dependent upon the funds for their yearly production and also to own land and the figures show a substantial rise in the level of debts as the inflation rises. The paper gives an introduction to some of the policies and then reviews the prospects and the general credit conditions along with the role of Federal, involvement. Also discussed here is the ability of these funding institutions to fund the growing needs of the agriculture sector and how can these credit policies make a positive effect on the sector. These policies contribute heavily in the price determination of land prices and absorption of farm ownership and production. The paper also discusses the altered arrangement and economic character of the agriculture sector which is proposed in order to reconsider the role of public agencies which offer credit to the farmers. INTRODUCTION Most the recent agriculture credit programs actually originated after the First World War, when the incomes of the farming community were not stable and unsure. At that time lending money was not considered to be safe enough by both the farmers and the lenders as farming became a suspicious sector. With these developments, the farmers faced lot of problems in receiving funds and gave higher interest rates than other borrowers anywhere. Soon, the need of a Farm credit system was established which included the involvement of Federal Land Banks, Federal Intermediate credit Banks, Banks for cooperatives and other agencies related to the Farmers Home Administration which helped to greatly increase the flow of funds into the farmer community. At almost the same time, many other programs and initiatives for the farmers to increase their income and reduce the risk in the farming sector by bringing about price stabilization and making farm lending more easy than before were brought about by the government. The easier terms and conditions on which the farmers were able to borrow money and could get finance for industrialization of their farms favored the reform to a highly productive and capital intensive farming sector. Today credits have become the backbone of the rise of the farming sector and major reasons that are behind the increase in the behavior of the farmers to borrow money are the uncomplicated funding issues, high production expenses, increase in land prices, machinery and the willingness to increase the size of their production capability. The high production expenses have decreased the funding capability of the farmers to utilize their own money. Within a span of 30 years, the debt of the farming sector had increased by an overwhelming figure of $13 billion in 1950 to an anticipated $158 billion on January 1980’s, along with the increase in the value of the farm assets of the farmers which had considerably doubled during that period. The farmers slowly become more sensitive to the changes and fluctuations that occurred in the cash flow, interest rates, and costs of debt service to them. This led to an increase in the borrowed funds by the farming community and decrease in the net farm incomes, thereby increasing the net debt burdens on the farmers. In a number of regions across the United Stated, which are located along the north and the western edges of the corn belt,   most of the commercial banking institutions, most interestingly the country banks have come through two years of a reasonably high loan-to -deposit ratios, which brought about a number of liquidity problems for the farmers at some point of time. In most of these districts the commercial banks and other funding institutions were not able to meet the growing needs of the farmers and thereby the interest rates grew by a phenomenal rate. It was estimated that the farm production expenses will rise by more than double the price and subsequently the funds that will be needed to satisfy this demand will grow by more than $250 billion in the coming 10 years as compared to a total expense of $140 billion during the 1980’s. According to these figures, it was estimated that the farming community will have to borrow most of the money and it was estimated that the farming debt would be around $700 billion by the end of the year 2000. At the same time, the asset value of the farmers will also increase to $3.5 trillion and the ratio between the debts to asset values will not rise higher than 17%. The increasing and prices, competition of the loan funds, farm prices, can all make it difficult for the farmers and especially those who have no other source of income to subsidize their farming needs. Looking at this analysis of the trends, some reforms and agricultural policies were introduced. How to cite Public Policy – Agricultural credit, Papers

International Law Is The Body Of Legal Rules That Apply Essay Example For Students

International Law Is The Body Of Legal Rules That Apply Essay between sovereign states and such other entities as have been grantedinternational personality (status acknowledged by the internationalcommunity). The rules of international law are of a normativecharacter, that is, they prescribe towards conduct, and arepotentially designed for authoritative interpretation by aninternational judicial authority and by being capable of enforcementby the application of external sanctions. The International Court ofJustice is the principal judicial organ of the United Nations, whichsucceeded the Permanent Court of International Justice after WorldWar II. Article 92 of the charter of the United Nations states:The International Court of justice shall be the principaljudicial organ of the United nations. It shall function in accordancewith the annexed Statute, which is based upon the Statute of thePermanent court of International Justice and forms an integral part ofthe present Charter. The commands of international law must be those that thestates impose upon themselves, as states must give consent to thecommands that they will follow. It is a direct expression of raisondetat, the interests of the state, and aims to serve the state, aswell as protect the state by giving its rights and duties. This isdone through treaties and other consensual engagements which arelegally binding. The case-law of the ICJ is an important aspect of the UNscontribution to the development of international law. Its judgementsand advisory opinions permeates into the international legal communitynot only through its decisions as such but through the widerimplications of its methodology and reasoning. The successful resolution of the border dispute betweenBurkina Faso and Mali in the 1986 Frontier Dispute case illustratesthe utility of judicial decision as a means of settlement interritorial disputes. The case was submitted to a Chamber of the ICJpursuant to a special agreement concluded by the parties in 1983. InDecember 1985, while written submissions were being prepared,hostilities broke out in the disputed area. A cease-fire was agreed,and the Chamber directed the continued observance of the cease-fire,the withdrawal of troops within twenty days, and the avoidance ofactions tending to aggravate the dispute or prejudice its eventualresolution. Both Presidents publicly welcomed the judgement andindicated their intention to comply with it. In the Fisheries Jurisdiction case (United Kingdom v. Iceland,1974) the ICJ contributed to the firm establishment in law of the ideathat mankind needs to conserve the living resources of the sea andmust respect these resources. The Court observed:It is one of the advances in maritime international law,resulting from the intensification of fishing, that the formerlaissez-faire treatment of the living resources of the sea in the highseas has been replaced by a recognition of a duty to have due regardof the rights of other States and the needs of conservation for thebenefit of all. Consequently, both parties have the obligation to keepinder review the fishery resources in the disputed waters and toexamine together, in the light of scientific and other availableinformation, the measures required for the conservation anddevelopment, and equitable exploitation, of these resources, takinginto account any international agreement in force between them, suchas the North-East Atlantic Fisheries Convention of 24 January 1959, aswell as such other agreements as may be reached in the matter in thecourse of further negotiation. The Court also held that the concept of preferential rights infisheries is not static. This is not to say that the preferentialrights of a coastal State in a special situation are a static concept,in the sense that the degree of the coastal States preference is tobe considered as for ever at some given moment. On the contrary, thepreferential rights are a function of the exceptional dependence ofsuch a coastal State on the fisheries in adjacent waters and may,therefore, vary as the extent of that dependence changes. The Courtsjudgement on this case contributes to the development of the law ofthe sea by recognizing the concept of the preferential rights of acoastal state in the fisheries of the adjacent waters, particularly ifthat state is in a special situation with its population dependent onthose fisheries. Moreover, the Court proceeds further to recognisethat the law pertaining to fisheries must accept the primacy of therequirement of conservation based on scientific data. The exe rcise ofpreferential rights of the coastal state, as well as the hisoricrights of other states dependent on the same fishing grounds, have tobe subject to the overriding consideration of proper conservation ofthe fishery resources for the benefit of all concerned. Some cases in which sanctions are threatened, however, see noactual implementation. The United States, for example, did not imposemeasures on those Latin American states that nationalized privatelyowned American property, despite legislation that authorizes thePresident to discontinue aid in the absence of adequate compensation. Enforcement measures are not the sole means of UN sanction. Skeptics of the coercive theory of international law note thatforceful sanctions through the United Nations are limited tosituations involving threats to the peace, breaches of peace, and actsof aggressiion. In all other instances of noncompliance ofinternational law, the charters own general provisions outlawing thethreat or use of force actually prevent forceful sanction. Those sameskeptics regard this as an appropriate paradox in a decentralizedstate system of international politics. Nonetheless, other means ofcollective sanction through the UN involve diplomatic intervention andeconomic sanctions. Short plot summary of giver EssayThe case-law of the ICJ is an important aspect of the UNscontribution to the development of international law. Its judgementsand advisory opinions permeates into the international legal communitynot only through its decisions as such but through the widerimplications of its methodology and reasoning. The successful resolution of the border dispute betweenBurkina Faso and Mali in the 1986 Frontier Dispute case illustratesthe utility of judicial decision as a means of settlement interritorial disputes. The case was submitted to a Chamber of the ICJpursuant to a special agreement concluded by the parties in 1983. InDecember 1985, while written submissions were being prepared,hostilities broke out in the disputed area. A cease-fire was agreed,and the Chamber directed the continued observance of the cease-fire,the withdrawal of troops within twenty days, and the avoidance ofactions tending to aggravate the dispute or prejudice its eventualresolution. Both Presidents publicly welcomed the judgement andindicated their intention to comply with it. In the Fisheries Jurisdiction case (United Kingdom v. Iceland,1974) the ICJ contributed to the firm establishment in law of the ideathat mankind needs to conserve the living resources of the sea andmust respect these resources. The Court observed:It is one of the advances in maritime international law,resulting from the intensification of fishing, that the formerlaissez-faire treatment of the living resources of the sea in the highseas has been replaced by a recognition of a duty to have due regardof the rights of other States and the needs of conservation for thebenefit of all. Consequently, both parties have the obligation to keepinder review the fishery resources in the disputed waters and toexamine together, in the light of scientific and other availableinformation, the measures required for the conservation anddevelopment, and equitable exploitation, of these resources, takinginto account any international agreement in force between them, suchas the North-East Atlantic Fisheries Convention of 24 January 1959, aswell as such other agreements as may be reached in the matter in thecourse of further negotiation. The Court also held that the concept of preferential rights infisheries is not static. This is not to say that the preferentialrights of a coastal State in a special situation are a static concept,in the sense that the degree of the coastal States preference is tobe considered as for ever at some given moment. On the contrary, thepreferential rights are a function of the exceptional dependence ofsuch a coastal State on the fisheries in adjacent waters and may,therefore, vary as the extent of that dependence changes. The Courtsjudgement on this case contributes to the development of the law ofthe sea by recognizing the concept of the preferential rights of acoastal state in the fisheries of the adjacent waters, particularly ifthat state is in a special situation with its population dependent onthose fisheries. Moreover, the Court proceeds further to recognisethat the law pertaining to fisheries must accept the primacy of therequirement of conservation based on scientific data. The exe rcise ofpreferential rights of the coastal state, as well as the hisoricrights of other states dependent on the same fishing grounds, have tobe subject to the overriding consideration of proper conservation ofthe fishery resources for the benefit of all concerned. Some cases in which sanctions are threatened, however, see noactual implementation. The United States, for example, did not imposemeasures on those Latin American states that nationalized privatelyowned American property, despite legislation that authorizes thePresident to discontinue aid in the absence of adequate compensation. Enforcement measures are not the sole means of UN sanction. Skeptics of the coercive theory of international law note thatforceful sanctions through the United Nations are limited tosituations involving threats to the peace, breaches of peace, and actsof aggressiion. In all other instances of noncompliance ofinternational law, the charters own general provisions outlawing thethreat or use of force actually prevent forceful sanction. Those sameskeptics regard this as an appropriate paradox in a decentralizedstate system of international politics. Nonetheless, other means ofcollective sanction through the UN involve diplomatic intervention andeconomic sanctions. In 1967 the Security Council decided to isolate SouthernRhodesia (now Zimbabwe) for its policy of racial separation followingits unilateral declaration of independence from Britain. As in othercases of economic sanctions, effectiveness in the Rhodesian situationwas limited by the problems of achieving universal participation, andthe resistance of national elites to external coercion. With respectto universal participation, even states usually sympathetic toBritains policy demonstrated weak compliance. The decentralization of sanctions remains one of the majorweaknesses of international law. Although international bodiessometimes make decisions in the implementation of sanctions, memberstates must implement them. The states are the importers and exportersin the international system. They command industrial economies and thepassage of goods across national boundaries. Furthermore, the UN is wholly dependent on its members onoperating funds, so no matter what decisional authority its membersgive it, its ability to take action not only depends on its decisionbut also on means. Without the support, the wealth and the materialassistance of national governments, the UN is incapable of effectivesanctions. The resistance of governments to a financially independent %0