Human Resources Management 4 Essay Example | Topics and Well Written Essays - 1750 words

HR Management 4 - Essay Example In the wake of executing the approach of easygoing dress arrangement, Digital Device began to confront hardly any issues. The employee’s conduct turned out to be progressively easygoing with the customers bringing about objections to the team lead. The Casual dress ought to be permitted yet there ought to likewise be sure guidelines and guidelines regarding easygoing dressing among the representatives. The strategy ought to be reconsidered as per the HR administrator and rundown of endorsed and not affirmed things. Anyway in the wake of actualizing the easygoing dress strategy and reexamining it again following barely any months probably won't be worthy for the representatives and they probably won't consent to the updated list with respect to which of the kind of easygoing dress to be followed. It is imperative to convey the progressions that are to be occurred in the association to its separate workers. Here the HR office assumes a crucial job as it is the obligation of the HR to impart the reconsidered arrangement to the representatives. The overhauled arrangement can be imparted by and by to every division by directing gatherings with the individual groups by the HR head. This may positively affect the workers as opposed to simply sending sends and posting the amended approach in the notification board. The arrangement of losing the employment in the event that one saw as liable of smoking or taking has been rehearsed in the vast majority of the associations. The new approach treat cigarettes as an unlawful opiate and plans to receive a free smoker free working environment. In the event that the approach is referenced in the agreement before joining the association it tends to be seen to be lawful and especially moral. The associations intend to furnish with a solid working zone and furthermore guaranteeing legitimate strength of the representatives. At Health Unlimited every one of the representatives is required to sign an announcement expressing that the worker is a non smoker and won't smoke either grinding away or away from work. It was likewise expressed that in the event that anyone saw as blameworthy would be released from the activity.

Brands and other intangible assets Essay Example | Topics and Well Written Essays - 5000 words

Brands and other elusive resources - Essay Example The monetary status with a brand turns out to be progressively recognized as relations to shoppers are worked through the brand valuation. Perceiving the brand as an impalpable resource gets basic to an enterprise in view of the effect it has on buyer spending just as on the money related eventual fate of an organization. In the event that accounts start to change from stable development to increments and diminishes in the organization, at that point it tends to be noted as an immediate connect to the elusive resource of brand valuation (Wood, 662, 2000). Marking is an idea that started hundreds of years prior the same number of started to connect the possibility of proprietorship with the items they possessed. Marking a home or slaves was the idea utilized by the individuals who were keen on keeping and keeping up an individual foundation. The fundamental idea was to perceive possession explicitly to assemble an arrival on speculation for the proprietorship. The idea of marking for organizations started to blast with the development of the mechanical transformation and the structure of organizations into national elements. During this time, the opposition to make items at a mass level while exceeding contenders turned into the primary idea. During the 1920s, General Motors, Ford and organizations, for example, P&G started to utilize their name way of life as a strategy for conquering the opposition. As these brands were recognized as an immaterial resource request expanded just as the bookkeeping structure. As commercialization r ose during the 1980s, most organizations started to fuse marking into their fundamental way of life as it was noticed that budgetary contrasts happened when a brand was perceived. The fundamental idea was to make a higher measure of interest from potential clients while permitting clients to get faithful to the brand character over different contenders. The outcome was the capacity to assemble notoriety, yet in addition to change the monetary increments inside an enterprise. The idea of brand personality during the 1980s and 1990s additionally started to rise at a worldwide level,

Happy Thanksgiving COLUMBIA UNIVERSITY - SIPA Admissions Blog

Happy Thanksgiving COLUMBIA UNIVERSITY - SIPA Admissions Blog Today is a National Holiday in the U.S. and both today and tomorrow the University and our offices will be closed.   Please note that we will not be able to respond to email or phone calls until our office opens again on Monday the 29th. I am thankful that I made it safely through another busy travel season.   Travel for the most part has concluded and now my staff and I will start to prepare for the application reading season.   If you have yet to begin your application we would recommend that you log in now to familiarize yourself with the set up of our application.   You can easily review all of the pages and steps you will need to follow to complete the process. The deadline to submit all of the required documents is January 5th, 2011 and you can start your application by clicking here.

West Side Story Essay - 766 Words

In 1961, West Side Story, a filmed version of the hit Broadway musical that was inspired by William Shakespeares Romeo and Juliet, was released to viewers, who just could not resist the energy and excitement of the movie. Thirty-eight years later, viewers, like myself, still cannot resist it. I had never seen the film, which was directed by Robert Wise and Jerome Robbins, before, but I had always wondered why people loved this multi award-winning movie so much. After viewing the film, I think that it deserved the ten Academy Awards that it won because it has withstood the test of time and it truly is a remarkable film. It still has the same flair and ability to lure the viewer into the plot as it did when it was first shown in theaters.†¦show more content†¦I never knew when the actors were going to start singing and dancing, which added a delightful element of mystery to the film. The directors and cinematographer, Daniel L. Fapp, worked together to change the way musicals were traditionally shot. Instead of using traditional long shots, they used quick cuts and varied angles to enhance the appeal of the musical numbers. I was fascinated by the way the colorful costumes, which won the Oscar for Best Costume Design, fit together perfectly with the dance numbers to enhance the entire scene. The way the women tossed the skirts of their frilly, bright dresses around to fit the beats of the music truly made the scenes wonderful. The scenery in the film was perfect for the West Side of New York City. The rooftops, alleys, and secluded spots are what won West Side Story the Best Art Direction-Set Decoration, Color Oscar. The songs are unforgettably beautiful, especially I Feel Pretty, Tonight, and America, and they can make anyone start singing and dancing along regardless of whether or not he or she actually knows the lyrics. In fact, one of the best examples of effective cinematography in the film involves a song. There is a split screen effect between several characters as they all sing the song, Tonight, as they march to the rumble. Even today, people rent West Side Story to see why it won so many awards and received so much acclaim. In myShow MoreRelated West Side Story Essay1120 Words   |  5 PagesWest Side Story 1. Point out how the general setting of the play is established. Give at least two examples. The play West Side Story takes place in a suburb on the West Side of New York City. We can conclude that we are talking about a socially disadvantaged suburb as the surrounding area is described with high brick walls, not very attractive and by the presence of the two gangs – the Jets and the Sharks. We are also able to say in which time period the actions take place. As anRead MoreWest Side Story Essay978 Words   |  4 PagesThe movie West Side Story directed by Jerome Robbins and Robert Wise is a reinterpretation of the famous play, Romeo Juliet. The movie associate producer Saul Chaplin, music by Leonard Bernstein, film editor Thomas Stanford, costume design by Victor A Gangelin, and production manager, Allen K. Wood. The actors playing in the movie are Richard Beymer, Natalie Wood, Russ Tamblyn, Rita Moreno, George Chakiris, Tucker Smith, Tony Mordente, David Winters, Eliot Feld, Bert Michaels, Robert Banas, CaroleRead More West Side Story Essay741 Words   |  3 Pages In 1961, West Side Story, a filmed version of the hit Broadway musical that was inspired by William Shakespeare’s Romeo and Juliet, was released to viewers, who just could not resist the energy and excitement of the movie. Thirty-eight years later, viewers, like myself, still cannot resist it. I had never seen the film, which was directed by Robert Wise and Jerome Rob bins, before, but I had always wondered why people loved this multi award-winning movie so much. After viewing the film, I thinkRead MorePrejudices in The West Side Story by Arthur Laurents Essay803 Words   |  4 PagesThe book West Side Story written by Arthur Laurents is set in the mid 1950’s, created as modern version of Shakespeare’s Romeo and Juliet. West Side Story is a romantic tragedy about two characters that are supposedly completely different and aren’t accepted when they fall in love. The â€Å"difference’s† between these characters is centered on the prejudice’s they had against each other. Prejudice is a harsh opinion or feeling formed previously without any knowledge or reason. The Jets and the SharksRead MoreWest Side Story by Leonard Bernstein and Stephen Sondheim Essay1472 Words   |  6 Pagesperformance combining music, dance, acting and spoken dialogue. Written by Leonard Bernstein and Stephen Sondheim, ‘West S ide Story’ is a classic American musical based on William Shakespeare’s ‘Romeo and Juliet’. The through-composed score and lyrics are used to portray different characters and their cultures, the rivalry between the Jets and Sharks, and the emotions felt as the story progresses. This essay will be exploring the music and how effective the score is in realising the world and charactersRead MoreLove in Romeo and Juliet by William Shakespeare and in the Movie West Side Stories876 Words   |  4 Pagesmost well known love stories of all time in the play from the 15th century, Romeo and Juliet by William Shakespeare tells the tale of young love and fatal misfortune. With the same message the musical from the 50’s, West Side Story directed by Jerome Robbins and Robert Wise carries out a similar story of young love and tragedy. Although some are touched by these love stories, others believe it tells a tale of young fools. Although the theme of tragedy is seen in both stories as the time goes on fromRead MoreWest Side Story Analysis972 Words   |  4 Pagessocial status in culture is not only shown in history, it is also depicted in several films such as the original 1968 Planet of the apes, and 1961 West side story. Both films are unique in their own ways but go hand in hand presenting specific perspectives on race and social status from the beginning of history through today. In the reading West side story by Alberto Sandoval he explains how the film perpetuates the image of racial problems explaining that the film has its profound structure expressingRead MoreEssay on West Side Story731 Words   |  3 Pages West Side Story Day 4: 2-page essay nbsp;nbsp;nbsp;nbsp;nbsp;The West Side Story portrays the lives of two different gangs living in America, as well as their beliefs and examples of living a good life. The expectations of what people consider the good life to be may vary on a person’s morals and their dreams of what life is truly about. In this movie, whether or not these characters were good people, lived a good life, or lived in a good society is a very controversial topic. nbsp;nbsp;nbsp;nbsp;nbsp;TheRead MoreEssay on West Side Story549 Words   |  3 Pages West Side Story nbsp;nbsp;nbsp;nbsp;nbsp;In this musical, it uses several types of narratives, for example, after the fight between the Jets and Puerto Ricans, after the police leave, they enter the ally and the girl is begging to join the gang saying how much she wants to fight is a part of narrative sexuality (B 34). The girl is more of a tom boy who wants to be like one of the guys. nbsp;nbsp;nbsp;nbsp;nbsp;Also, in the West Side Story, it uses many camera angles and distances. OneRead MoreThe Importance of West Side Story Essay980 Words   |  4 PagesWest Side Story is one of the great contributors to musical theatre, in particular Broadway where it originally opened on September 26 1957 at the Winter garden Theatre. The production ran for 732 performances before entering the world of film in 1961. However, I believe its significance lies in the heart of the theatre where the audience is subjected to different styles of music, dance and of course an adaptation of Shakespeares Romeo and Juliet. In fact, Leonard Bernstein first decided to call

Essay on Wal-Mart is the Enemy - 1552 Words

Wal-Mart - The Corporate Enemy During the last 20 years, Wal-Mart has moved into many areas wiping out all the stores around causing people to loose jobs, slashing the tax base and causing many more disturbing problems to neighborhoods so people should stop supporting Wal-Mart for many of these reasons. Always low prices, does this sound familiar? Well this would be the slogan of the world’s most controlling company; Wal-Mart. Wal-Mart grew over the years into a 256 billion dollar company after making its name across the world in 1915. The major problem with Wal-Mart is that it maintains its own mini-economy. Some people believe Wal-Mart supports the American economy while most others hold that Wal-Mart’s global outsourcing will and has†¦show more content†¦Wal-Mart’s variety of over 120,000 items, size and convenience makes it a severe competitor to any business. It’s unbeatable low prices are so unbearable even the social status of many cities or towns don’t matter and can’t even compete with Wal-Mart therefore they are forced to be terminated. This may be an example of â€Å"survival of the fittest† but this process is hurting the economy majorly and there needs to be something done about this. Most of Wal-Mart’s suppliers are from China and that means less American made products and more foreign products going around. This lack of American production is what causes American factories to shut down, leaving the employees without jobs. Even if these employees decided to work with Wal-Mart, they would make around half of their normal salary with no health care or the job security benefits that have been the normal in factory work. â€Å"Wal-Mart wants high turnover, so people wont become attached to the company, and make demands on it.-Glen Ford. I worked at Wal-Mart for a few months when I was in college. You never hear about the brainwashing session you go through when you start working there - literally hours and hours of presentations and videotapes bashing messages like ‘unions are BAD’ into your brain. I felt like Alex in ‘A Clockwork Orange’ - doors are locked, get ready for the quiz. If I didn’t need the money at the time I woul d have quit on the spot.† –LizzyBeth. Most of Wal-Mart jobs have little or noShow MoreRelatedWalmart Corporations SWOT Analysis847 Words   |  3 PagesIntroduction Wal-Mart is a large and powerful corporation that uses its retail stores as its primary means of income and profit. The sheer size and influence this company possess on the global marketplace makes it a useful candidate for strategic management analysis. The purpose of this essay is to internally analyze Wal-Mart Corporation using SWOT methods to gain further knowledge about business operations and strategic planning. This essay will investigate the strengths of the company, exploreRead MoreEssay on The Global Wal-Mart Effect605 Words   |  3 Pagesto explain how [Wal-mart] broke the law using intimidation, denying benefits and firing those that support the union. Sebastian Mallaby rebuttals by using facts and reasoning in a logos/ethos way. Examples include but not limited to; â€Å"Wal-mart has a war room to defend its image! Well, yeah, it’s up against a hostile campaign featuring billboards, newspaper ads, and a critical documentary movie.† Mallaby goes on to dis cuss different ways that many of the arguments these â€Å"anti-Wal-Mart† groups have areRead MoreCorporate Social Responsibilities of Wal-Mart Essay796 Words   |  4 Pagesover 2 million employees, Wal-Mart continually strives to uphold the image and small town ideals that its founder Sam Walton instilled during its creation in 1962. It is imperative that the first focus of any company both internally and externally needs to be that of an economic benefit for the individual stakeholders of that company. Wal-Mart is not different in that in order to offer any benefit to any person, it must make a profit. Therefore the first focus of Wal-Mart’s CSR is that of an economicRead More Walmart ecommerce ops Essay1068 Words   |  5 Pages What is Wal-Mart dong that seems to fit a definition of â€Å"successful† e-commerce operations? What cold they do better? How does shopping on-line compare to your experience looking for a similar type of item at a bricks-and-mortar store? How does this site compare to other experiences you’ve had with e-commerce nbsp;nbsp;nbsp;nbsp;nbsp;When you talk about Wal-Mart the first thing that you have to remember is that they are the largest retailer in the world. Wal-Mart employs more people in theRead MoreWal-Mart Case Study on Csr1616 Words   |  7 PagesYIK UID 3035036503 Case study of Wal-Mart Introduction In this essay, the case of Wal-Mart will be discussed by applying the Milton Friedman’s argument on CSR and utilitarianism. Wal-Mart is the largest retailer in the world, however, it is also known for ruthless exploitation of employee, squeezing suppliers, and crushing communities. It has been the Public Enemy No. 1 for a generation of activists and reformers. To cope with these oppositions, Wal-Mart responded vigorously and, insteadRead MoreContraversy of Wal-Mart as An Ethical Company Essay1824 Words   |  8 PagesMarkkula Center for Applied Ethics. He described two Wal-Marts one as evil and one as good. The evil company is very, very big and does everything to grow bigger. They use illegal immigrants to mop floors and are accused of locking employees inside overnight. They practice gender discrimination, pay low wages and deteriorate suppliers and competition. The bad one is the enemy of all that’s good and right in our nation (Seglin, 2004). The good Wal-Mart Seglin describes as thrifty, industrious and offerRead MoreWalmart Case study Essay3769 Words   |  16 Pagesï » ¿ Wal-Mart Case Study Management 5650 September, 15, 2013 Introduction From a gallon of milk to a complete home makeover, Wal-Mart is the kind of store consumers (to include myself) go to buy all their home goods. What we don’t see are the management aspect of the operations, the issues stores, management, and executives go through on a daily basis. Wal-Mart has several challenges it goes through, from self-inflicting wounds to battling competitors for theRead MoreWalmart vs. Target Essay3757 Words   |  16 PagesAND TARGET: A COMMUNICATION COMPARISON INTRODUCTION Many discount retailers have come and gone over the years, but Wal-Mart and more recently Target, have employed business models that continually deliver profits, even in the struggling economy of the United states in recent years. Wal-Mart and Target both have expanded rapidly since their inception and while Wal-Mart has become an international retailer with stores in fifteen countries and all over the United States while Target has stayedRead MoreAn Investigation Into Pricing Strategies of Wal-Mart in China6348 Words   |  26 Pagesstrategies of Wal-Mart in China Module Leader: Gunjan Saxena Student ID: 200912567 Date: 17/05/2009 Executive Summary The report is an investigation about Wal-Mart’s pricing strategies in China, which consists of three parts. The part 1 includes five points relevant information. To begin with, it will have an introduction for this investigation to assess the brief of Wal-Mart and its pricing strategies in China. The next is setting up one main aim of investigation Wal-Mart’s pricingRead More military supply chain Essay1281 Words   |  6 Pagesmilitary to be the most feared military force in the history of man. In the past the military was expected to â€Å"dig in† and prepare to fight the long fight. This was alright at the time because the military was focused on only one enemy and continued to fight that enemy until the battle was over. nbsp;nbsp;nbsp;nbsp;nbsp;In today’s military, we are fighting numerous battles in a variety of environments. With these changes in environments comes a change in the amount and type of equipment that

Famous people Free Essays

The reason I’m writing Is to give you some Information about famous people and to express my thoughts about It. To begin with, I know many famous people In our world. They try to do their best to become such. We will write a custom essay sample on Famous people or any similar topic only for you Order Now My favorite personality Is the British actress Kerri Knightly. I think that Kerri Is the best combination of beauty and talent. Her acting amazes me, her actions make me speechless, her voice can attract anybody attention. She worked very hard and collaborated with the most ammos actors and became one of them very quickly. She played and is still playing in very popular movies with the most known directors and that’s why she is very famous. The most popular her roles are in the films â€Å"Pirates of the Caribbean†, â€Å"Pride and Prejudice†, â€Å"Ana Karen†. So, I want to say that Kerri is very famous and popular nowadays. I usually get information about this person from the Internet, TV, some magazines and newspapers. Also, my friends are fond of her talent, so we often tell each other deferent facts about her life and exchange different Information. We know everything about her work and private life. As far as I’m concerned, I would not Like to be famous. There are many reasons why I think so. Firstly, I think, It Is very hard to be famous. Every time you must know that you are an example to follow by many. So, you should avoid some situations In which you can attract your fans and abandon the usual look. Secondly, every time you can be pursued by paparazzi, hat’s why you won’t be able to feel good in your daily life and work. Also, your fans will spy on you in every possible way. You will feel tired giving them your autographs. And lastly and most importantly, everyone will know everything about your life. Your private life will be public and you won’t be able to hide some facts, which are very dear to you. In addition, I think that to be a famous person is not an easy task. So, people who work hard, must be successful in their life, but they must also remember that to be a famous person Is hard too. How to cite Famous people, Papers

Far From a Fairytale free essay sample

Being raised in my house, the idea of getting what you wanted was complete nonsense. Even getting what you needed could sometimes be considered a stretch. There was a rough patch where we only had enough to survive. And even as young as I was I knew that I was lucky to be able to have a roof over my head. Granted I may not be 100 percent correct with every detail I might mention, most are as vivid as me today as they were when it all began. No child should have to watch their parents go through a divorce, but how about when the level of tension and violence are so high, the kids can’t even sleep at night? For me it used to take covering my ears with three pillows to muffle their voices. My older brother Patrick locked his door and pretended not to notice, and my younger sister Joy somehow managed to cry herself to sleep. Countless nights we would all lay there listening to the screams and smashing of beer bottles against the walls. Patrick must have been at least nine at the time when he put a hole through the wall joining our rooms together, and told us that even if his door was locked from them, he would always be there for us. Eventually there came a time where my father finally just left, but even then their sick arguments didn’t reside. At some point after a few court dates they just ceased communication completely, but that comes later. At first things were alright, of course I was young and we all had some trouble adjusting. Gradually they got worse. My mother alone with three young kids had no job, hadn’t finished college, our car was a piece of trash and credit cards began to get declined. Some of the events to follow get a little fuzzy. My dad wasn’t more than twenty minutes away and we did see him regularly. Months went by, my mother bounced from job-to-job. At one po int it was honestly so bad that we had to collect pennies from parking lots in order to get milk or bread. Yes we had plenty of donations from food banks and the child support from my father. So why we were barely holding on, I’m still uncertain, but it does seem a little shady. Eventually my mom settled in as an exotic dancer in Atlantic City. She did her best to support us and I know it must’ve been hard on her. As a child I was ashamed to tell anyone where my mommy worked, and even today it bothers me, but that job saved us. Obviously working where she did, she met plenty of guys in her life, and a few of those guys I will never forget. It was my father however who met a woman and proceeded to re-marry. She isn’t the â€Å"evil step-mom† you see on television, and they were well off for a while. Time passed and we tried to move on with our lives. But the hurt that my mom was already carrying around from while she was growing up added to the last few ye ars made it a constant struggle for her to stay strong for us. She went to rehab for a while after losing her license. One day I was her best friend, she told me everything, things no child should hear. The next we voluntarily locked ourselves in our room just to escape her. I was a little girl, surrounded by screams and who did I have to talk to? I wouldn’t call my childhood a nightmare, but it was far from a fairy tale. Even though things were difficult, we managed to get through the worst of times. My father ended up eventually leaving New Jersey, he moved into Connecticut, and although he’s only about four hours away, it’s incredibly hard to see him. And even though I love him with everything I have, it hurt me that he left. It hurts that my own father works seventy hours a week and when he isn’t at work, he’s writing emails or on the phone with the boss. But I continue to try to forgive him for his busy life, and have to again remind myself t hat, he’s working as hard as he is, to keep the roof over my head. But that’s enough about my father, I’ve only spent so much time with him, and although I could go on about how much I love and worry about him, this isn’t about that. Somewhere between my mom’s many jobs, we met John. Let me tell you a little something about him, John is a guy who will do anything for anyone he cares about. He has proven that to me over the years. John has gone above and beyond for my family and I. He helped my mom get sober and supported her in every way he could. John taught me how to play every sport I know, he’s the one who helps me write essays and gives me advice on anything I ask about. Although we fight, that’s bound to happen; I am a teenage girl after all. Unfortunately John and my mother have fought the same way, my father and mother did. But John never left, for good anyway. Today he doesn’t live with us, but it’s as easy as a phone call and he’ll be there as soon as he can. It may be wrong of me to have decided this already, but with news that my father has the same heart condition that killed his father, I know in my heart that I’ll always have John. Should my father be gone by the time I want to get married, John will walk me down the aisle. And John will be the one to dance with me during the father-daughter dance. We may not be blood, but John has helped me grow, when my father couldn’t be around. With everything that happened, I had no choice but to start working to support my wants. I was eleven and if you didn’t have the hottest new item on the market, you didn’t fit in. So anything I wanted, I went out and worked for myself. I still do, at seventeen, I pay for my own phone, I buy my clothes, and books, everything I want, I do myself. But I know my mother will always be there to get me what I need. In a way I’m glad to have been raised the way I was becau se when it comes time to move out, I’ll be able to support myself, and there are a lot of people my age who won’t ever be able to understand what I went through to make myself the person I am today, and I’m proud of that. Today my mother is still working a part-time job, but she’s been there for three years now. She has just begun going back to college herself, and I know every day she wakes up and gives it her all for the three of us. There are some things that have caused resentment between my mother and I, things that I can’t even begin to tell, but I love her, and I know she loves me. Our house isn’t perfect by any means, there are clothes strewn about and the dishes aren’t always done. But it’s our house, the memories in this house will definitely last me a lifetime. We’ve come a long way from the people we were ten years ago, were still might not be the best we can be. Were getting there though, good things take ti me, and I have the rest of my life.

Name Kham Wa Essays - Philosophy Of Religion, Religion,

Name: Kham Wa Subject of my paper: Positive Atheist What has the research I've done for the annotated bibliography revealed to me about the subject? The topic that I chose to do my research was concerning religion and how because of the negative implications that it carries, I consider Atheism as better way to live. It's a lot better benefits. One of them is, more realistic expectations about life and death. I think it's an important realization that there's no afterlife awaiting you. There's only this life. You're only born once and you only live once. That means you better make the most of it. I already knew about Atheism prior to this research; however, because of it, I gained a deeper understanding on what it means to be an atheist. For example, I used to think that agnosticism was the same thing as atheism. But I found out that atheists don't believe that a deity formed or created anything that has come to be, for example humans, the earth, the universe, etc., while agnostics believe that not enough evidence has been discovered to say that God exist or not. If I had to sum up what it is that I think about my topic, what would I say? Atheism really is a negative word. But negative isn't always bad. Some construe the mere questioning of faith or the presentation of alternatives to it as negative atheism, but being guided by reason instead of faith isn't negative. Science shows us the wonders of the world every day. As my topic; "Positive" mean positive thinking, and "Positive Atheism" mean positive thinking without god. What sort of questions has the research brought to my mind? Why? What is atheism really mean? To be able to deeper understand on what it means to be an atheist. What is the benefit to be an atheist? Why is atheism better than theism? What sort of answers have I come up with? Atheism is a philosophical idea that is generally defined as a disbelief, or denial of the existence of God or gods. Atheism is closely related to the idea of agnosticism. Agnosticism holds that the existence of gods can be neither proved nor disproved. Atheists, by contrast, reject the idea of the existence of gods as a philosophically flawed or unnecessary theory. By choosing an atheistic viewpoint, individuals choose the right to develop their own morals and guidelines seen as beneficial to society without being forced to reconcile their moral to spiritual documents or teachings. Atheists are guided by the expected consequences of their own actions. They are committed to the application of reason, science, and experience to better understand the universe and solve problems. Religion have been the ostensible justifications for numerous wars and pollical and social conflicts. Religion also leads to fanaticism and extremism. Many people feel that religious principles are absolute and require strict adherence and passionate enforcement. Why do you care about the subject? I think that theism only teaching unrealistic stories, it's full of hypocrisy, it goes against science, it violates some human freedoms, and it's full of fundamentalists who seek to do harm in the name of their deity. I think Why should we care about the subject? Society is rapidly changing through globalization and the blending of cultural traditions. To achieve the most harmonious path for human development, it is essential that humans are able to openly debate the development of shared principles. Through free-thinking philosophies such as atheism, society could find the most direct path toward cultural advancement. Promoting an theistic approach to law, ethics and education could be a key factor in helping the human culture enter a new era of social integration.

Indian highways account for a vast minority Essays

Indian highways account for a vast minority Essays Indian highways account for a vast minority Essay Indian highways account for a vast minority Essay Table of Contentss 1. Introduction 2. Background and Literature Review I ) From Domestic to Foreign Car Purchases: The Turning Shift two ) Automotive Companies in India: Foreign and Domestic three ) Anatomy of a Developing Economy four ) Consumer Behavior Characteristics: Value vs. Ostentation V ) Brand Image: Domestic vs. Foreign six ) A Assorted Market: Rootss and Consequences seven ) Cases in Point: Foreign Investment Plus Domestic Equity Equals Success 3. Datas Analysis I ) Gross saless Figures two ) Customer Satisfaction 4. Discussion I ) Consumer Purchasing Model 5. Decision 6. Literature Cited 1. Introduction The Indian domestic car market represents a turning industry both through direct gross revenues and component supply. Several factors are acknowledged in literature as engines behind growing within the car sector. These include an addition in metropolis industrial growing, rural agricultural sector growing and constitution of several foreign houses such as Toyota and Hyundai. The growing in car gross revenues can hence be seen as a microcosm of capitalist economy booming in a antecedently state-run economic system. Highlighted under such protections is a fresh pick among consumers between domestic and foreign produced merchandises. Commercial attempts are hence dually fronted towards streamlining production and accommodating theoretical accounts to typical Indian consumer life style and budget – moves aimed to minimise costs and maximise gross, severally. The rise in car gross revenues can besides be analyzed from the position of the effects precipitated. One of the most powerful effects stemming from rise in car gross revenues is that of nursery gas ( GHG ) emanations. India has now a population good entrenched above one billion occupants, triping widespread recognition that it poses a important environmental menace in footings of domestic gas emanations. With a national route substructure web far flung from run intoing car traffic demand, congestion has created a dead cesspit of auto-emitted gases. On the political forepart, developing states such as India and China are non under duty to curtail gas emanations under international pacts such as the Kyoto Protocol [ 1 ] . Such non-requirement among developing states has become a delicate issue frequently at the head of diplomatic argument sing clime alteration. This is mostly due to the impugn felt by developed states such as the US and UK. Such states contribute emanation degrees ord ers of magnitude greater than those of their developing state opposite numbers on a per capita footing. However, it is argued that a deficiency of countenances imposed upon developing states represents a possible grave mistake in judgement given the leaning for aggregative emanations within full dullard, industrialising economic systems. Marketing enterprises represent another consequence precipitated from the rise in car gross revenues. Such runs have taken the head under the control of several car houses viing for portion in a comparative junior market. The instance for portion is so faced from a different angle by foreign houses both due to regulative limitations and the demand to equilibrate pricing with consumer buying power. The coming of inexpensive, fuel efficient vehicles is expected to function as a pillar within the car market given consumer demand. Possibly most of import among challenges faced by domestic and foreign car houses alike is that of accommodating theoretical accounts to Indian consumer life style to confirm trust and dependability among clients. The new-age Indian markets present both chances and challenges. Consumer behaviour represents one of the most important tendencies to supervise among car house direction so as to fulfill market demand and increase market portion. This is non to sabotage inventiveness and invention in production and selling. To the contrary, much is to be said based on foreign establishment success narratives – intra or inter-industry – for making demand out of unrealized vacuities within the consumer market. For illustration, such a scheme has been invoked by Ikea with its move into Russia – a developing state with similar capitalistic roots to those of India. In the automotive sector, Suzuki pioneered a joint venture with so Maruti Ltd – a authorities owned steadfast – to fit theoretical accounts to consumer tendencies and demand holes. Consumer behaviour with regard to car purchases within Indian car market is analyzed in footings of three primary factors: I ) a p arallel displacement in in-between income net incomes and comparative high deserving personal point ownership, two ) fiscal and cultural enablers of car purchases and three ) influence of foreign car house selling runs. Through an analysis of such factors, a theoretical account for Indian consumer car buying tendencies between domestic and foreign trade names is developed and presented. This theoretical account is of possible usage to domestic and foreign car house direction as it is multi-factorial based – an advantage in an inherently liquid consumer market. In peculiar, the theoretical account considers past gross revenues and client satisfaction figures as campaigners for roots and grounds for alteration in consumer inclinations off from ethnocentric trade names. 2. Background and Literature Review A displacement among Indian consumers towards buying foreign made vehicles has occurred with the constitution of several houses such as Toyota, GM, Ford and Hyundai. The double merchandise of a immense consumer base by volume and deregulating among the car market has led to a market place dotted now both by domestic and foreign shapers. As a consequence, consumers now possess a greater component of pick across the car sector. Auto houses are forced to plan and market merchandises in touch with the worlds of Indian consumer life style and fiscal budgets. For the domestic shapers, the state of affairs is simple: fend off foreign rivals both by keeping bing clients with tried merchandises while introducing to run into new-age concerns such as those centered on emanation degrees. For foreign shapers, the chance is slightly more complicated. In add-on to designing and selling consumer-demanded merchandises, medium and long term schemes must integrate macroeconomic factors such as involvem ent rate and currency fluctuations. Such factors are of peculiar importance within a developing economic system because they are frequently misrepresented through early development phases. The ability to attune operations – in peculiar production and supply concatenation direction – to predominating conditions of Indian economic system is hence of cardinal importance. The displacement in Indian consumer buying wonts off from domestic to foreign made vehicles can be attributed to several implicit in grounds. Three prevailing factors are discussed below, each of which envelops several undertones: I ) competitory distinction, two ) image and three ) concern moralss. It is of import here to measure up the intent of including the latter factor of concern moralss. Ethical motives are discussed non as a motive among consumers towards any one merchandise or company, but as a decreasing hurdle to be overcome by marketing sections. It is asserted that concern moralss in countries such as advertisement are frequently ignored by foreign car shapers given favourable supply/demand fortunes. Besides, population volume of the in-between category can falsify any rejection of concern pattern because these consumers make up the largest proportion of foreign car shaper clients. In today’s car sector, companies must endeavor to stand out amidst rivals in any given market. Over the past decennary, increases in rivals within old oligopoly markets – for illustration, the US and, more recent, Indian car sectors – and decelerating of demand growing has led to general overcapacity. Taking these two markets as illustrations, permeation of foreign car shapers such as those Japanese ( i.e. Toyota, Honda ) and Korean ( i.e. Hyundai, Kia ) has forced domestic pillars to reassess concern programs and merchandises marketed to altering consumer demographics and tendencies in this. Tay ( 2006 ) notes that within developed and flush markets, demand has leveled while consumer demand is yet to the full realized in developing markets such as India and China. The consequence of this excess of participants of lessenings in demand growing rates is double pronged. Namely, car shapers have been beset by overcapacity and a attendant premium on deriving consumer concern and trueness. Competitive distinction within crowded market places hence stands a critical challenge in turning market portion ( Tay 2006 ) . Tay ( 2006 ) asserts in a reappraisal of automotive companies and sectors worldwide that competitory distinction is a critical component in company image and fiscal wellness. It is of import to measure up the significance of competitory distinction. Tay ( 2006 ) offers a proficient definition, allowing organisational procedures in the spotlight. In peculiar, it refers to how an car manufacturer innovates and delivers its merchandises and services – compared with the competition – in three parametric quantities: quality, cost/value and seasonableness measures. ( Tay 2006 ) . From an organisational position, competitory distinction is therefore a fluid procedure whereby merchandises and procedures are in-touch with and anticipant of consumer demand. The consequence is a company-consumer relationship that transcends cold supply and demand economic sciences into something of a common apprehension and satisfaction. In this sense, competitory distinction can hence be thought of in a Darwinian model: companies apt to survive’ tough times are those able to accommodate to environing rough environmental conditions. All markets – developed or developing – nowadays challenges that must be faced and overcome by car shapers in order to turn market portion. In observing three beginnings of competitory distinction – quality, value and seasonableness – Tay ( 2006 ) asserts that each beginning will change in importance depending on the market. For illustration, it is asserted that within developed economic systems ( i.e. Europe or North America ) , accent is frequently placed upon quality niceties given copy cat and attendant impregnation of one time vanguard characteristics ( i.e. power guidance, clime control, ABS brake systems etc. ) ( Tay 2006 ) . By contrast, developing markets ( i.e. India ) still virgin to the unmasking of auto theoretical accounts and associated characteristics and tag lines may further value pricing ( Tay 2006 ) . Auto line R A ; D, production and gross revenues and selling channels must therefore attune to properties of the specific economic syste m in which operations are based. India’s car sector presents a regular balance between Tay’s outlined standards by which car houses may be benchmarked by consumers within a given economic system. On the one manus, quality exists as a critical component in car gross revenues because of natural benefits reaped by given consumers. Quality besides represents the suite of benchmarks by which a consumer weighs future purchases. Same shop gross revenues on a year-over-year footing are a critical step of success both in retail and fabrication industries, both of which are incorporated by car houses. On the other, value must be factored by car shapers via production ironss because of the distinction of the in-between category as a mark demographic. Value can besides be seen as holding common good consequences to company and consumer likewise. This statement is leveraged on the rule of cost nest eggs. From a consumer point of view, increased cost nest eggs can take to higher disposable income militias and a high er leaning for farther discretional disbursement ( i.e. a 2nd auto ) . From a company position, cost nest eggs provide a safety cyberspace in the case of overcapacity. One basis rule distilled from the Indian car sector is that the consumer is in the driver’s place. Indeed, the present car market in India remains in developing phases but has however endured exposure to foreign car houses since the mid 1990s [ 2 ] . The coming of synergistic selling runs with increasing consumer entree to new age communicating interfaces such as the cyberspace has endowed an information overplus non antecedently available to such a widespread audience. Tay ( 2006 ) asserts that online characteristics such as dedicated web sites with rental rate reckoners and merchandise scope galleries have in consequence rendered a true unfastened market place. The state of affairs as per the Indian car market is accentuated because of the high comparative consumer buying power para ( Tay 2006, acquire other from initial pages ) . Remember buying power para is determined by trade good pricing, in bend dependent upon all conducive elements associated with a given trade good. Such elements include labour and production capital and are much cheaper sourced within India than abroad. The significance of buying power para is that car shapers can non reimburse surplus costs through monetary value hikings. Alternatively, cost nest eggs must be generated through streamlined supply and production ironss ( Tay 2006 ) . The above discussed cost nest eggs statement provides an disposed segue into a treatment of Tay’s 3rd benchmark value: seasonableness. Tay ( 2006 ) discusses the importance for car houses to pitch production and gross revenues ironss to existent consumer demand. In peculiar, it is noted that processes such as constituent ordination and vehicle line production quota scenes be fluid so as to run into consumer demand as it arises ( i.e. merchandise design to market period of ~12 months ) ( Tay 2006 ) . From a market version point of view, such flexibleness permits companies to translate market tendencies into merchandises thirstily sought by buyers. ( Tay 2006 ) . In consequence, the quicker the response, the better opportunity of eating the demand to consumer satisfaction. Tay ( 2006 ) notes several houses that have achieved such a unstable production procedure ( i.e. Toyota, BMW, and Hyundai ) . Firms that have in the past suffered overcapacity due to falling gross revenues of peculiar theoretical accounts must redesign production and gross revenues ironss through audience with several on-site directors. The critical consequence is to derive a alleged intelligent platform ( Tay 2006 ) that stocks stock list in touch with consumer demand during periods of a given tendency. The image factor must besides be considered as contributive of a widespread consumer displacement towards the purchase of foreign made cars. However, it is first of import to clear up the context in which image is used. Here, image takes on a nonliteral, non actual significance. Image within the head of a consumer is hence based non purely upon vehicle physical visual aspect, but instead the position it commands as portion of a occidentalizing economic system. Aside from the car industry, many sectors in India have experienced foreign constitution. For illustration, fiscal services, telecommunications and consumer electronics are all representative of industries now comprised of domestic and foreign participants. In a holistic sense, the basket of goods and services from which to pull by consumers has been transformed from a local to planetary market. Tay ( 2006 ) reinforces this claim by reasoning global-enabling communicating engineerings have allowed consumers to first acknowledge and finally know apart between merchandises offered by sellers of different states of beginning. The consequence is a market scrimmage that can, over a period of old ages, influence consumer consciousness in merchandise buying. In the yesteryear, the determination was de facto because of the deficiency of free trade and being other protectionist steps such as duties and import responsibilities. Through the 1990s and into the 21stcentury, the determination has been reversed because of steps easing India’s embracing of globalisation. Foreign car houses have applied selling engineerings used in other markets in an attempt to suede consciousness to their merchandise – image selling. In big portion, Indian houses have yet to catch up. Demographics are one lending factor towards image selling. In the context of India, see the immature age market ( ages ~20-35 ) . This market consists of many on the job persons who are viewed as less tied to old traditions and cultural pattern than their parental coevals opposite numbers. Given a general gravity – or, at really least, consideration – towards western consumer merchandises in stead of monetary value favoritism, the consequence is a market geared towards foreign made vehicles. Physical particulars are good documented among foreign made cars. Vehicles such as the Chevrolet Aveo and Toyota Camry athletics characteristics that convey both nicety and practicality to Indian consumers. For illustration, the future Aveo U-VA theoretical account commands a short relation turning radius, designed to ease tight bends on narrow Indian roads ( Chevrolet India 2006 ) . However, branding of such theoretical accounts has been designed to integrate Indian civilization so that foreign merchandises are viewed as balanced between nuts and bolts and local modishness. Foreign car houses in India besides use the image factor as a collateral consequence. Lodging with the mark demographic of consumers aged 20-35, foreign houses recognize the potency for downstream ego advertisement. For illustration, persons who have purchased and become satisfied with a GM or Toyota vehicle are likely to go through on positive word of oral cavity feedback to equals. Given significant communicating volume – a critical mass, per se – a trade name may go the donee of widespread image acknowledgment and credence. The opportunity for such image credence is increased for trade names of foreign houses as compared to domestic opposite numbers because of their freshness. For illustration, see intercrossed engineering. Hybrid vehicles are really much a new and recent phenomenon within the Indian car market. Matching to this new age engineering is a acknowledgment among Indian consumer base of environmental disturbance that is exacerbated through car ingestion. T he potency for image credence among intercrossed theoretical accounts is hence bolstered by three separate phenomena. First, intercrossed vehicles are marketed by new market participants ( i.e. acquire steadfast here ) . Second, intercrossed exterior design is alone and provides the component of contrast – a potentially moneymaking quality in the context of consumer buying inclination. And 3rd, environmental nest eggs conferred through intercrossed as comparative to gasoline vehicle usage are viewed as admirable and may transport extra advantages such as revenue enhancement credits. three ) Ethical motives The issue of ethical concern pattern represents a farther conducive factor to consumer purchase behaviour. The issue of moralss in concern is slightly of an intangible construct. Indeed, moralss are by and big the merchandise of recognized traditions over many coevalss within a given civilization. The effects of political and economic intervention such as jurisprudence devising on moralss can hence be distorted because those who instigate such actions are replaced at frequent intervals. Thus what is taken as ethical under the protections of a Communist vs. democratic government varies based on value airings of either government. However, moralss can act upon consumers based on cultural heritage and personal values. Religious beliefs and moral values can rule consciousness and life style of certain persons in specific states. As such a consciousness is woven over a long comparative length of clip, sensitiveness towards perceived unethical concern activity may happen given a deficiency of regard among concerns. The state of affairs in India is pronounced, as many persons pattern Hinduism or outgrowths of it as portion of a balance between spiritual look and twenty-four hours to twenty-four hours life. Ethical criterions are implicitly recognized by all consumers. In the Indian market place, several patterns can be assessed for their ethical upholding. Biswas ( 1998 ) discusses several such countries, all of which revolve around gross coevals and increasing net income ratios. For illustration, advertisement is highlighted as an oft misleading pattern ( Biswas 1998 ) . Biswas ( 1998 ) concedes that by sound concern pattern and practicality, advertisement is an indispensable conduit towards determining consumer purchase. However, the nature of advertisement among several companies is criticized for its top-heavy accent on ingestion in the face of restraint. The issue of monetary value show – or deficiency thereof – is assessed as non-beneficial to consumers because it limits pick based on disposable income budgets ( Biswas 1998 ) . Besides, the inquiry of whether to include semi-graphic content such as partly clothed adult females in advertizements is raised ( Biswas 19 98 ) . Ramifications to the automotive sector are obvious given the male enticement of certain theoretical accounts. In peculiar, Sport Utility Vehicle ( SUV ) lines offered by American houses such as GM and Ford may affect advertisement that transcends cultural restrictions. In a reappraisal of concern moralss within the Indian market place, Biswas ( 1998 ) identifies certain characteristics engrained in both economic sciences and morality. Mention is made to important cultural transcripts and figures such as theVedic literaturesand Ghandi, severally ( Biswas 1998 ) . Ancient transcripts such as theVedic literaturesdo mention to the intrinsic harmoniousness between economic pattern and moralss. In every sense, continuing moralss is dependent on sound economic pattern. This relationship is said to be because moralss are the exclusive merchandise of single content. Individual content must hence be achieved through support – prosperity – which itself is a merchandise of sound economic pattern. Biswas ( 1998 ) calls on Shakespearean idiom to bolster this point of good moralss as dependant on one’s state of affairs – Virtue is made by circumstance. ( Biswas 1998 ) . Biswas ( 1998 ) surmises the relationship in matter-of-fact manner : True economic sciences in India neer militate against the highest ethical criterion, merely as all true moralss to be deserving its name must at the same clip be besides good economic sciences as it reveals in theVedic literatures. ( Biswas 1998 ) . The deduction taken from this averment is that economic pattern and moralss saving are per se intertwined. One ground for a possible ethical ignorance among Indian consumers involves population size ( Biswas 1998 ) . Biswas ( 1998 ) makes mention to India’s big population insofar as the consequence of disintegration is concerned. The statement here is that while foreign transnational houses may disavow ethical pattern – for illustration, through selling or monetary value puting negative reaction among consumer base may be washed out by indifference among aquiline purchasers. In this sense, foreign ( or domestic ) car sellers may derive impunity to unethical pattern based on positive gross revenues. The critical point to be recognized is that although moralss may hold been imbued by past Indian commercial entities, the clime within that epoch was one of isolation. At present, India has opened its doors to foreign multinationals and therefore the influence of competition. In the context of this thesis sing India’s car sector, the grade to which moralss will impact consumer purchase behaviour is a affair of speculation. Onus is placed upon foreign houses both in footings of acknowledging and honouring Indian traditions in melding merchandises into Indian market place. However, it is asserted that moralss continue to linger in background raid amidst a market place dotted with houses in ferocious competition over procuring clients at all costs. The Indian car market consists of several participants. The present auto shapers runing within the local environment may be separated based on several position as domestic or foreign. Domestic houses include Hindustan motors, TATA, Mahindra, Maruti Udyog Ltd. and Premier Automobiles. Foreign houses include American-headquartered participants such as General Motors ( GM ) and Ford Motor Co. , every bit good as Asiatic opposite numbers such as Toyota Motor Corp. , Honda, Hyundai and Daewoo ( a Korean subordinate of GM ) . Foreign constitution within India’s domestic car industry is mostly a merchandise of authorities liberalisation associated with ownership Torahs ( Rathore and Swarup 2006-B ) . Rathore and Swarup ( 2006-B ) note that get downing in the early 1990s, partial ownership bets could be held by foreign houses in undertakings run by domestic houses. However, as the Indian economic system continued to turn through technological progresss and increasing instruction among young person ( i.e. under age 20 ) demographic, foreign involvement increased within car sector. The consequence has been a progressive liberalisation in policy devising towards allowing foreign competition within the car industry. Trade parametric quantities have underlined this policy displacement. For illustration, strike responsibilities – revenue enhancement paid by consumer on specific merchandises – levied on little vehicle [ 3 ] purchases within India are reported by Rathore and Swarup ( 2006-B ) to be reduced to 16 % from current rate of 24 % . It is helpful to supply comparing of scheme and investing between domestic and foreign car shapers in analysing altering consumer penchants. Constitution, initial production and selling operations and client service all constitute critical countries of development in footings of cementing and turning market portion. Such countries are approached and executed in different manner by domestic and foreign houses mostly based on past success within a given market – frequently that of a place state. Thus scheme invoked by American car shapers such as GM or Ford involves following traditional US theoretical accounts to Indian consumer life style within a turning economic system. Traveling off from a stylistic position, some differences ( i.e. production related ) may be the consequence of statute law prefering certain car theoretical accounts ( i.e. revenue enhancement inducements related to increased intercrossed vehicle production ) . Regardless of the drift – consumer life style, legal-based, environmental etc. – all houses must accomplish a balance between local imposts and civilization and marketed merchandises. Discussed below is a series of car house overviews designed to exemplify differences in marketing scheme ( discussed inSelling Scheme) . In peculiar, two houses are discussed harmonizing to headquarter part: General Motors ( US ) , Toyota ( Japan ) . In the instance of the GM and Toyota, old international enlargement is discussed as per constitution in India and consumer entreaty of several theoretical accounts. General Motors I ) Overview GM stands at present as the planetary leader in automotives by production volume ( Rathore and Swarup 2006-B, see Hoovers link to General Motors ) . The GM narrative is mostly one of a tail of two epochs. Through US industrialisation during the 1960s, 70s, 80s and 90s domestic US car giants – GM and Ford – controlled a bulk of market portion. However, the oncoming of several factors such as high fuel monetary values, skyrocketing wellness and pension costs and automobile-based environmental disturbance have parlayed foreign constitution within the US market into an scoured portion for GM and Ford. The consequence is a sector now parsed between foreign and US cars, with market portion go oning to widen in favour of the foreign participants. Such domestic market portion eroding coupled with the purpose to capitalise a mostly developing consumer market within Asia ( i.e. first clip auto purchasers ) has led GM to put such international markets. Recent one-year fiscal consequences underscore GMs loss in US domestic market portion and attendant move into international markets. Financial informations can be distilled down to a gaping failing that has become manifest with superior competition within the US domestic market: bequest costs under-compensated by gross. For the financial twelvemonth 2005, net gross revenues and gross totaled approximately US $ 192.6 billion ( GM Annual Report 2005, Financial Highlights ) . Such gross stood on the dorsum of a planetary production end product of over 9 billion vehicle units, an addition of ~10 % relation to 2003 planetary production of 8.2 billion units ( GM Annual Report 2005, Financial Highlights ) . However, net net incomes amounted to an overall one-year loss of about US $ 10.6 billion. This net incomes figure translates into a loss of approximately $ 18.50 per portion ( GM Annual Report 2005, Financial Highlights ) . The loss is magnified in badness when compared to the 2004 fisca l twelvemonth consequences, in which net incomes per portion were US $ 4.94 – a net income border of 1.4 % . Put from a stockholders position, net incomes were depleted by over four times over the class of one twelvemonth from the black to red. The hapless GM cost construction and depletion in operating hard currency flow can be attributed to a high comparative budget for employee pension and health-related costs. The consequence is equivalent to retaining a lead ball while trying to travel frontward. From a statistical analysis, GM incurred US $ 5.3 billion in wellness attention duties over financial 2005, or approximately US $ 600 per vehicle sold. In his Letter to Stockholders – published as portion of the 2005 GM Annual Report – CEO Rick Wagoner placed an accent on cut downing such costs through assorted streamlining steps ( GM Annual Report 2005, Letter to Stockholders ) . These include US works closings and associated employee layoffs, renegotiated active and retiree benefit programs and direct and indirect investing in foreign markets. two ) International Presence This figure of planetary production laterality is mostly the merchandise of its many trade names based both in the US and abroad. These trade names include Chevrolet, Buick, Pontiac, GMC, Saturn, Hummer and Cadillac in the US. GM controlled international subordinates include Saab ( Sweden ) , Opel ( Germany ) and Daewoo ( Korean ) . In footings of branding in foreign markets, GM has fabrication operations in 32 states, while GM vehicles are imported by 190 states. For illustration, within Asia and the Middle East GM operates in China, India, Thailand, Bahrain, Kuwait and the United Arab Emirates ( UAE ) ( GM Worldwide 2006 ) . Within Africa, GM operates in Egypt and South Africa. To exemplify the usage of subordinates, GM operates under the protections of Chevrolet, Opel and Saab in South Africa. From 2004, GM South Africa has besides acted as a distributer for Saab vehicles in South Africa ( note that the two companies facilitate joint client service operations ) . Non-US gross revenues have over the past decennary increased to represent approximately half of GMs entire planetary gross revenues. The 2005 GM Annual Report quantifies such gross revenues figures. For illustration, of the 9 million planetary gross revenues units GM tallied over financial 2005, merely over half were from outside of the US ( GM Letter to Stockholders 2005 ) . It is besides noted that greater than 1 million gross revenues were recorded throughout the Asia/Pacific part ( GM Letter to Stockholders 2005 ) . Gross saless volume was reported up 20 % year-over-year within South America, Africa and the Middle East ( GM Annual Report 2005, Letter to Stockholders ) . GM executives attribute such gross revenues growing to strength of internationally recognized and truste

Price Controls applied by the Qatar Government Literature review

Price Controls applied by the Qatar Government - Literature review Example Agriculture is also a vital sector in the Qatar economy because of the objective of Qatar, which is food security. Qatar is the main importer of agricultural goods.   Price Floors regards the minimum prices put by the government for particular goods and services, which it considers producers to be trading in an unjust market with very low prices, and hence such producers, need some assistance. Price floors become a problem when the government puts them higher than the equilibrium price. Once the prices are higher than the market price, there is a likelihood that there will be a surplus or excess supply. In case this takes place, producers who cannot predict difficulty ahead will make the bigger quantity where the new price crosses their supply curve (Wessels, 2006). Clients will not purchase that many products at a higher price and so those products will end up unsold. There could be a serious economic depression if producers notice that there is insufficient demand, and in reactio n reduces production. There exists deadweight loss linked with this decrease in quantity, mirrored in the loss of producer and customer surplus at lesser points of production. This policy can be of benefit to the producers, although only if they have an elastic supply curve and thus they do not have any net loss. This type of government does not favor consumers. They are the losers, as they pay high prices and the certain prices drive some out of the market, as they cannot afford the products. There are many policies of the government for putting up a price floor and handling its consequences. They may put an easy price floor, put production quotas or employ price support. In Price supports, the government puts a minimum price, and then purchases all the surplus or excess supply (Carbaugh, 2011). This is normally more incompetent and expensive for the government and community as a whole than for the government to subsidize the firms concerned. Either the Production quotas increase t he price by limiting production using authorized quotas or giving firms incentives to decrease their production. In Qatar, for instance, the government applies these techniques extensively with oil and agriculture. The government compensates the farmers to maintain some parts of their lands uncultivated, hence increasing prices.  Ã‚  

Sociology Assignment Example | Topics and Well Written Essays - 1250 words

Sociology - Assignment Example Similarly G.S. Thompson notes that education is how the environment influences an individual to bring about permanent changes in the behavior as well as habits of an individual. Therefore, the term education is a pedagogical process as well as a component that nourishes the body, mind, soul of ignorance. This study focuses on different key aspects as well the as the context of education. This is coupled by objectives and importance of having education in place (Brayl & Murray, 1998). The concept of education This study views education in two aspects. These are the narrow aspect and the wider aspect. Narrow aspect In the narrow education aspect, the field of education is necessary in imparting instructions in schools or colleges. Here, there is direct involvement between the teacher and the student interacting with one another. There is a well stipulated order in which the education process has to be delivered. For instance, the key areas of focus include; objectives of education, cur riculum, teaching methodology, including discipline in the educational process as well as application of evaluation techniques. The narrower aspect of education is purposefully directed to the development of a child through schooling. ... According to Dewey, education is the progressive acquisition of experiences and abilities in which one incorporates throughout his life in the control of environment as well as reaching the limits of possibilities. These two approaches are very important in development of human beings in particular. Generally, the understanding of the concept of education can be viewed in the most appropriate way. There are two concepts of education that are most relevant in the contemporary human development. First, we have the ‘Banking concept’ and then the ‘Modern concept’. The modern concept In the modern concept of education, there is a great emphasis on the shift individual development to national development. Here, education does not only focus on the social change but also on the national development. It is believed through national revolution, there will be realization of economic gains. This is a concept that most countries have adopted and others being encouraged to adopt in order ascertain national development that is now thriving the development process of the modern countries. This has been particularly important in social, economic and political interests of national development. The banking concept The banking concept of education is teacher-student interactive concept. This is the most important in the formal or non-formal modes of education. The teacher is perceived to give or deposit knowledge while the student is the receiver of that particular knowledge. The teacher communicates and gives instructions as the student listens, memorizes and practices the communique of the teacher. Here, the teacher uses evaluation methods to find out if the communicated information was well incorporated by the student. The information that would have been well

Beauty Beast Nature

Beauty Beast Nature Beauty and the Beast Romantic writers could be the Disney writers of â€Å"Beauty and the Beast.† Their â€Å"beauty† shows in their love of nature and their will to preserve it; the â€Å"beast† is not the writer but their audience. The readers were monsters in the writers eyes because of their lack of love and appreciation for Gods great creation, Mother Nature. William Wordsworths works, such as â€Å"The World Is Too Much with Us† and â€Å"Nutting,† show his love for nature and his will to protect it; he uses word play and creative approaches to show the deep appreciation he has for the beauty of nature. William Wordsworths â€Å"The World Is Too Much with Us† paints the perfect â€Å"beauty and the beast† portrait. New York comes to mind after reading this work. The world is too much with us; late and soon,†¦ The first line depicts everyone rushing to work because they are â€Å"late† and they also want everything as fast or as â€Å"soon† as they can get it. People have become very impatient and ignore or take out their anger on those around them. In this case nature has become abused and neglected. Getting and spending, we lay waste our powers: Little we see in Nature that is ours; Everyone wants to spend their hard earned money; however, they cannot spare ten minutes to take a walk through Central Park and reconnect with nature. The great appreciation of nature that our ancestors had is being lost. Our great power has been tossed aside or â€Å"wasted† as Wordsworth has put it. Line four: We have given our hearts away,†¦ shows how human have lost their love for nature. Wordsworth wishes we still had a dependant love for the earth. Humans once relied so much on the earth that they would never think to destroy it. Now our minds are focused on more materialistic things. †¦we are out of tune; It moves us not.—Great God! Our world is like an old piano playing out of tune when the world is not taken care of. Peoples actions create a cut in the earths skin that may never be repaired. Wordsworth, like other Romantic writers, expresses how upset he has become with people for building our nature over Mother Nature. This work also shows how much he loves the world, Mother Nature, and cannot understand why people do not recognize natures wonders that are right in front of their face. People today forget to â€Å"stop and smell the roses.† Wordsworth takes a different approach in â€Å"Nutting† to express his deep appreciation of nature, a more exotic approach. This work uses sights and sounds found in nature; however, their true meaning is hidden. The hidden forms of natural words used have a deeper meaning, more sensual or sexual. For example, phrases such as â€Å"†¦fairy water-breaks,† â€Å"dragged to earth,† â€Å"†¦shady nook,† and â€Å"†¦spirit in the woods† all have to do with some element of nature. When those phrases are paired with other phrases such as â€Å"†¦Through beds,† â€Å"†¦Forced my way,† â€Å"†¦Tall and erect,† â€Å"†¦virgin scene,† and â€Å"†¦Voluptuous† seem to give this work of an innocent young man venturing into the woods to gather hazel nuts a more sexual meaning. The following passage is a perfect example of Wordsworth mixing nature and sex. †¦but the hazels rose Tall and erect, with tempting clusters hung, A virgin scene! This work also shows harm as a way to save. For example, the young man broking the branch to let light hit the floor of the woods. The young man harmed the tree by breaking the branch; however, he saved many other plants and insects by allowing light to hit the floor of the woods. This has been depicted in the following passages from the work: †¦Then up I rose, And dragged to earth both branch and bough, with crash And merciless ravage:†¦ I felt slight pain when beheld The silent trees, and saw introducing sky. The young man could be seen as a â€Å"beast† for harming nature, but in this case he is not because he was saving other natural elements. â€Å"Nutting† not only shows Wordsworths love for nature in a plant and animal aspect but it also shows human nature. Humans are sexual and that is secretly expressed in the word choices Wordsworth used. Wordsworths appreciation for nature is shown in the â€Å"colorful† words he uses to bring the work to life. The Norton Anthology states Wordsworths works â€Å"Both insist that nature—the external world experienced through the senses and the containing pattern assumed beyond that world—offers the possibility of wisdom to combat the pain inherent in human growth.† That sentence combines all of Wordsworths ideas of the natural world with human nature or growth. He shows anger towards those destroying the worlds natural beauty; however, if destruction of natural beauty is needed to help another form of nature survive than destruction is called for.

A pleasurable environment

AN ASSESSMENT OF THE IMPACT OF POLICY AND LAW IN THE MITIGATION OF ENVIRONMENTAL CRIME.An person ‘s character is determined by his life status, it is no secret that the environment an single finds himself has an tremendous influence on his character, which could be either positive or negative. Our vision of holding a enjoyable environment is being ruined by actions committed by either persons, corporate organic structures or concern administrations that disrupt the peace and hygiene of our environment, these actions are referred to as environmental offense. ( House of Commons Environmental Audit Committee 2005, p.8 ) . An Environmental offense is an environmental issue several writers and authors have made effort to specify from their ain point of position. An environmental offense as defined by the Staffordshire Moor lands District Council ( 2009 ) is an improper act which ruin the visual aspect of some portion of the environment, it could take to pollution of the environment, wellness and safety concerns and it can hold a negative consequence on the enjoyment of our territory. Situ and Emmons ( 2000, p.3 ) refers to environmental offense as an inadvertence that violates the jurisprudence and attracts condemnable test and countenance. This offense endangers the safety of persons both physically, wellness wise and environmentally. Clifford ( 1998, p.26 ) believes that an environmental offense is an knowing act committed to potentially do injury to the ecological and biological systems of the environment and besides for the intent of procuring concern or personal benefit, While the Sixth study of the Environmental Audit Committee states that environmental offense comprises all offenses either formed by statues or developed under the comm on jurisprudence that relates to the environment. Environmental Investigation Agency ( EIA ) ( 2009 ) goes farther to specify environmental offense as the interruption of international pacts designed to command trade in substances harmful to the environment or bound trade in rare species or improper Acts of the Apostless which cause direct injury to the environment straight. Stratford -on-Avon District Council ( 2009 ) defines environmental offense as a type of anti-social behavior that affects the value of life of the community and environment where the offense occurs and enhances the fright of offense. This is similar to the definition of environmental offense by Warwickshire Council ( 2009 ) as activities that are against the jurisprudence and are harmful to the quality of unrecorded and the environment. Environmental Crime may include the undermentioned and many more: Fly tipping Graffiti Littering Fly-posting Abandoned Vehicles Dog fouling Panpipes Vandalism Noise Pollution Extra Side Waste House holders Duty attention Wild life Crime Pollution Crime Improper waste disposal Oil spills Dumping into Oceans, Streams, Lakes or rivers Improper handling of pesticides or other toxic chemicals Burning Garbage Falsifying Lab informations pertaining to environmental ordinance Sourced from assorted writers: Daventory District Council ( 2009 ) , Interpol ( 2009 ) , LawyerShop ( 2008 ) , Straford – on- Avon District council ( 2009 ) , Working Borough Council ( 2008 ) . These are really of import environmental issues that affect our environments merchandise and place. Here one can place several inquiries: Can the most common of these offenses be defined? What chance exists for an environment in which these offenses occur? What has be done by the Law to if non wholly eliminate these offenses at least cut down their happening drastically? What can I make to assist cut down environmental offense in my environment? Violators of the environmental jurisprudence are normally charged with condemnable mulcts, gaol clip, test or other penalty ordered by the local governments. Although fixed punishment mulcts are used as bar to large companies from go againsting environmental Torahs and policy without the hazard of sedate pecuniary penalty, most large companies might happen that noncompliance is more expensive than obeisance to the jurisprudence, while jail clip may be the best manner to penalize persons who participate or commit environmental offense. ( Lawye r store 2008 ) . The Environmental Protection Agency is in charge of enforcement over environmental jurisprudence misdemeanor. ( Lawyer Shop 2008 ) . There are offenses that wild occur in our environment which have largely been considered by bulk as environmental offenses, offenses such as: Fly tipping: This could be referred to as illegal dumping of family waste such as old house clasp contraptions ( electric refrigerators, rinsing machines, carcase of dead animate beings, old Surs, vehicle parts ) oil, asbestos sheet and all kind of chemicals are non left out. ( Environmental Agency 2009 ) . This offense cost land proprietors an estimated 100 million annually and local governments an estimated 44million annually to clean up. ( Environmental Agency 2009 ) . It besides attracts a punishment a upper limit of two old ages imprisonment and or an limitless mulct ( Liver Pool City Council 2008 ) every bit good as & A ; lb ; 50,000 in Magistrate Court. ( Environmental Agency 2009 ) . There is a national fly tipping database funded by the authorities which is managed by the environmental bureau, it is known as fly – gaining control, entirely for the intents of undertaking fly- tipping. Graffitti: It is referred to as an act of hooliganism which is on the addition, it entails written, painted or scratched on other people ‘s belongings. Persons every bit good as packs leave a signature grade where they visit such as Bridgess, motor ways, public topographic points, and overseas telegram equipment boxes, unoccupied edifices are non left out. ( Solihull Metropolitan Borough Council 2009 ) . Upon strong belief under subdivision 1 of the Criminal Damage Act 1971 the punishment is 10 old ages imprisonment. This offense is so serious that it can be heard in either a Magistrate or Crown Court. ( Solihull Metropolitan Borough Council 2009 ) . A fixed punishment of & A ; lb ; 75, which will be reduced to & A ; lb ; 50 if received within seven yearss from the day of the month which the punishment was issued. ( Solihull Metropolitan Borough Council 2009 ) . Dog Fouling: This is the act of go forthing your Canis familiaris or the Canis familiaris under your attention to foul on tracts and unfastened infinites, with cleaning up after it. This Canis familiaris foul when in contact with the human oculus can do sightlessness ; people might step on it and transport the crud into their places. This offense attracts a fixed punishment notice of & A ; lb ; 50 which you must pay to the council within 14days, else you will be prosecuted. ( Gateshead Council 2008 ) . Persons can assist to look into environmental offense by study an environmental offense in their community to the local governments through their web sites.

Case Study Mercy Corps Essay

Introduction At the fourth biennial Mercy Corps leadership conference in November 2006 executive leadership described the well-known, internal complications at Mercy Corps as a large organization ($194 million budget in 2006) that â€Å"has to focus on two core areas: international relief and development† (Grossman & King, 2008). The status of the organization was examined in detail by the Harvard Business School case study and a number of problems were revealed. This analysis is based on the information provided by the case study and addresses four issues. The first section discusses three forms of differentiation and how they are relevant to Mercy Corps. The second section addresses the five different forms of integration in an organization. The third section evaluates the use of differentiation and integration in the organization and the success of differentiation and integration. In the last section I examine whether Mercy Corps is a mechanistic organization or organic organization. Changes in Differentiation As discussed in class and in assigned reading for PUB M 511 there are three forms of differentiation. This is essentially how an organization divides its labor into distinct tasks and then coordinates them (Hodge & Anthony, handout). Hodge & Anthony have defined the three forms of differentiation as: 1. Horizontal differentiation – differentiation of work into tasks at the same level of organization. 2. Vertical differentiation – division of work by level of authority, hierarchy, or chain of command. 3. Spatial differentiation – refers to geographical dispersion. All three forms of differentiation are relevant to key issues in the Mercy Corps case. Horizontal differentiation is clearly evident when the four program directors formerly supervising 40 country directors were replaced by six regional program directors. Effectively, a new department was added and the reporting structure was changed so that country directors were now reporting to their respective regional director who reported to the Portland, OR HQ and not the program directors in Portland, OR. Because the reporting structure was changed the country directors now had one more step before reaching the HQ. On the other hand country directors now had a faster response rate for questions that were not critical. Vertical differentiation was also apparent at Mercy Corps. One example of vertical differentiation at Mercy Corps was Zimmerman’s position. Originally program directors reported to the president but now regional program directors (replaced the four program directors) reported to Zimmerman. This removed the president from the regional program directors; it also helped the president focus on strategic initiatives and become the face of the organization instead of the day-to-day administrative functions. Mercy Corps had a strong sense of spatial differentiation. With 3,000 team members spread out across the world the organization had a strategy that kept the teams abroad aligned with the mission. All teams, despite their geographical locations, align their country goals to their greater vision and mission of Mercy Corps. Although country directors get great autonomy in how they run their program and where their funding comes from they still are working towards a shared goal. Changes in Integration Many of the forms of integration were significant in the Mercy Corps case. As defined by Hodge & Anthony in the handout provided in class the Five Forms of Integration are defined as: 1. Formalization – utilization of formal rules, policies and procedures. 2. Centralization of decision-making or authority – refers to the place in the hierarchy where decisions are made. 3. Span of Control – refers to the number of immediate subordinate positions a managerial position controls or coordinates. 4. Standardization – integration can be achieved through a process, input (human resources and materials), and output standardization. 5. Nonstructural means for integration – refers to the coordination mechanisms including liaison roles, teams, culture, information systems, and communication processes. The Mercy Corps case starts out using formalization at the country director – president. Communication channels are well defined and employee and staff know whom they report to. After the addition of regional directors another layer was added to the communication process. The policies and procedures were formalized and understood by all employees and staff and followed so that funding and program goals could be met. Centralization was not evident at the organization level. It was evident at the country level, where country directors were given permission to run their programs in the most efficient way for that country. Span of control was reasonable for the staff of Mercy Corps. Previously the four program directors had 40 direct reports. This changed when six regional program directors. While span of control was manageable the standardization process was not. The human resources team small compared to other organizations of the same size. The human resources team also was based primarily out of the Portland, OR office with one person in Scotland. In terms of non-structural means for integration, Mercy Corps has liaison roles and communication processes in place. Mercy Corps also has a culture that is adapted by all teams across the globe. Appropriateness of Use of Differentiation and Integration & Success with Differentiation and Integration Mercy Corps used differentiation and integration in a successful way. By leveraging both the highs and the lows of differentiation and integration the organization can function at high operational and strategic level. Mechanistic Organization vs. Organic Organization Mercy Corps as a whole runs like a very mechanistic organization. While the country offices run more similarly to a organic organization. As defined in the handout by Hodge & Anthony a mechanistic organization is: high vertical and horizontal complexity, high formalization, narrow spans of control, high centralization and high standardization. While a organic organization is defined as: low vertical and horizontal complexity, low formalization, broad spans of control, low centralization and low standardization. Conclusion In conclusion, Mercy Corps embodies high differentiation and integration at an organizational level. At the field/country level it seems to operate more on a low differentiation and integration. Therefore, the organization as a whole is run as a mechanistic organization and the field offices are run more organically with more autonomy. References Grossman, Allen S. , and Caroline King. â€Å"Mercy Corps: Positioning the Organization to Reach New Heights. † The Harvard Business School (2008): 1-24. Print. Hodge, Anthony and Gales. Organizational Goals and Effectiveness, Organization Theory: A Strategic Approach. 6th Ed. , 2002. Print. Hodge, Anthony and Gales. The Nature of Structure and Design, Organization Theory: A Strategic Approach. 6th Ed. , 2002. Print. Morgan, Gareth. Images of Organization. Thousand Oaks: Sage Publications, 2006. Print.

The Toys And Games Industry In The UK Example For Free - Free Essay Example

Sample details Pages: 13 Words: 3916 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Games Workshop PLC (GAW) and Hornby PLC (HRN) are UK based companies operating in the Toys and Games Industry under the leisure market. HRN is a UK brand leader in the model railway hobby. Frank Hornby, the companys founder, established Meccano Ltd in 1907 which become the classic toys of all time. Don’t waste time! Our writers will create an original "The Toys And Games Industry In The UK Example For Free" essay for you Create order In 1920 it introduced the toy trains and thereafter, the innovations followed. In 1986 it became a public company and now it is just called Hornby and rightly maintains the position as a leading model railway manufacturer for more than 20 years. GAW is the most successful and largest futuristic battle-games and tabletop fantasy company in the world. The business is about helping mighty armies to meet headlong on the field of battle. It produces the most successful table top fantasy, Citadel miniatures and futuristic battle games. PART -A: Financial Analysis of HRN and GAW. To evaluate the current Financial Performance and Financial Position of HRN and GAW, Ratio analysis is carried out over the last two accounting periods. Ratio is the comparison of one figure to another relevant figure or figures. According to Myers, Ratio analysis of financial statements is a study of relationship among various financial factors in a business as disclosed by a single set of statements and a study of trend of these factors as shown in a series of statements. The Ratios are distributed as: Financial Performance Financial Position Profitability Efficiency Liquidity Gearing Each of these 4 ratios is justified why it is chosen for analysis and is benchmarked against Time (to establish trends), Industry (to compare performance against competitor) and Expectations (to see if targets have been met). A. PROFITABILITY Profitability is the ability of a company to generate income higher than its expenses and other related costs in order to provide returns to its owners, investors and lenders. Profitability ratio is expressed as the relationship between profits made and other key figures from the income statement and balance sheet of a company such as capital employed, sales, etc. Table 1: SL.NO. PROFITABILITY RATIOS HRN 2010 HRN 2009 GAW 2010 GAW 2009 1. Return on Capital Employed (ROCE)% 10.99 15.68 28.12 14.44 2. Return on Shares (ROS)% or Net Profit Margin 8.06 9.94 12.74 5.99 3. Return on Share-holders funds (ROSF)% On PBT 14.24 19.3 29.15 19.84 On PAT 10.06 13.35 27.27 14.61 The Profitability Ratios are calculated to find out whether the Profit made by the company is satisfactory or not. 1. Return on Capital Employed (ROCE) The ROCE is the primary measure of Business Performance and it compares the profit made before deducting interest and tax (PBIT) with the overall capital used to produce that profit. ROCE = Profit before Interest and Tax x 100 Capital Employed Comparing between the years 2009 and 2010, the ROCE for HRN has reduced by 4.69% and it currently is 10.99% whereas in GAW, it has increased by 13.68% and now stands at 28.12%. Between the two companies, the ROCE for GAW is higher than HRN by 17.13% indicating better returns on capital employed. This is because GAW has repaid most of its loans of 2009 from the profits made and has managed to raise a higher equity on their own which has increased it ROCE in 2010. The average returns in UK is expected to be around 10% of which the investor target or the bank deposit rate is 5% and the risk premium is 5%. Therefore, GAW has earned very good returns compared to HRN. 2. Return on Sales (ROS) or Net Profit Margin (NPM) The ROS measures the Operational Performance and it relates the operating profit (PBIT) to the sales incurred during that period which estimates the percentage of profit earned on every 1 pound of sales made. ROS = Profit before Interest and Tax x 100 Sales In 2010, the ROS for HRN has gone down by 1.88% and is 8.06%; in GAW it has increased by 6.75% and is 12.74%. From these figures, it is estimated that for every one pound of sales made, GAW makes a profit that is 4.68p higher than what HRN is achieving. This is also because in 2010, the revenue and profit made by GAW is twice and thrice respectively as much as in HRN. 3. Return on Share-holders Funds (ROSF) or Return on Equity (ROE) The ROSF or ROE shows how much profit a company has earned in comparison to the total amount of share-holders equity. It is a narrower assessment of profitability compared to ROCE since the loan capital is not involved here. It is computed based on a) Profit before Tax (PBT) b) Profit after Tax (PAT) ROSF = PBT x 100 (OR) PAT X 100 (Share Capital + Reserves) (Share Capital + Reserves) A high ROSF indicates that the company has more profit available for its shareholders. In reference to PBT and PAT, HRN in 2010 shows a decrease of 5.06% and 3.29% respectively whereas GAW shows an increase of 9.31% and 12.66% respectively. GAW shows a steady increase over time and has achieved higher returns (29.15% 27.27%) on shareholders funds in 2010. B. EFFICIENCY. Efficiency Ratios measures the efficiency with which particular resources of the business have been utilised. An improvement in this ratio will lead to improved profitability in the company. Efficiency ratios are calculated to find out whether the stock and debtors of the company are too high. Table 2: SL.NO. EFFICIENCY RATIO HRN 2010 HRN 2009 GAW 2010 GAW 2009 1. Stock/Inventory Turnover Ratio (Times/year) 2.65 2.24 3.03 3.36 2. Stock Period (Days) 138 163 121 109 3. Debtors/Trade/Accounts Receivables (Days) 75 78 29 29 4. Asset Turnover 1.36 1.58 2.21 2.41 1. Stock or Inventory Turnover Ratio: (STR) The STR measures the efficiency of the business in managing and selling its stock which also helps to increase sales. It is expressed as a ratio between the cost of goods sold (COGS) and stock. The faster the inventory sells, the fewer funds are tied up within the company. Stock Turnover = Cost of Goods Sold (times per year) Stock Although HRN shows an increase in stock turnover ratio from 2.24 to 2.65 times/year in 2010, it is still lower than that of GAW which has reduced from 3.36 to 3.02 times/year. HRN shows that their stock turnover is a little over twice a year whereas GAW has a better stock turnover that is three times a year. 2. Stock Period: The Stock Period calculates the average time that stock is held within a firm. The higher the stock-turnover ratio is; the lower the stock period will be. Stock Period = 365 Days Stock Turnover HRN shows a reduction of 25 days in 2010 whereas GAW shows an increase of 12 days. However, GAW has been maintaining a low stock period compared to HRN which proves their efficiency in stock management and provides possibilities to consider future demand, shortages, price rise, etc. 3. Debtors/Trade/Accounts Receivables: Every firm is concerned about how long it takes for its customers to pay the amounts owed by them as it is directly related to the cash flow of the business. This waiting period is known as Debtors period. Debtors Period = Debtors x 365 days Sales The debtors period for HRN has decreased by 3 days in 2010 and is 75 days while GAW maintains it at a lower period of 29 days for both years. A company will normally expect this period to be within 30 days; GAW exhibits better performance here. CASH OPERATING CYCLE: This cycle is the addition of Stock period and Debtors Period which calculates the total time taken for stock to be converted into cash (Liquidity position). Efficiency Ratios Company/Year Games HRN 2009 2010 2009 2010 Stock Period 109 121 163 138 Debtors Period 29 29 78 75 Total in days 138 150 241 213 Indication of liquidity for the company (in months) 4.6 5 8.03 7.1 HRN has reduced the total period from 8 to 7 months in 2010; GAWs period has increased by half a month (from 4.5 to 5) and its still better than HRN. 4. Asset Turnover The Asset Turnover ratio portrays how effectively the assets of a company are being used to generate sales. Asset Turnover = Sales Capital Employed In HRN, for every 1 pound of capital employed, GBP 1.36 worth of sales has been made in 2010 and likewise in GAW, it made GBP 2.21. Both companies show a non-significant decrease while GAW continues to produce a higher asset turnover compared to HRN. The relationship between Profitability and Efficiency: This relationship exhibits the overall returns on funds invested into a business and is determined by the profitability of sales and by efficiency in the use of capital expressed as follows: ROCE = ROS X Asset Turnover = PBIT x Sales = PBIT Sales Capital Employed Capital Employed Sl. No. Company/Year ROS x Asset Turnover = ROCE/Result% (Approx) 1. HRN 2009 9.94 x 1.58 15.70 2. HRN 2010 8.06 x 1.36 10.96 3. GAW PLC 2009 5.99 x 2.41 14.44 4. GAW 2010 12.74 x 2.21 28.15 The Asset Turnover in GAW is close to twice as much as in HRN in 2010 and although an insignificant decrease is noticed in both companies, the primary reason for changes in ROCE is because of relative changes in ROS. Since the ROS for HRN has decreased to 8.06% from 9.94%, its ROCE has decreased to 10.96% from 15.70%. But in GAW, the ROS has increased by 6.75% thereby leading to a significant increase of 13.71% in its ROCE and has hence produced very good returns of 28.15% at the year 2010. C. LIQUIDITY Liquidity Ratios finds out the ability of a business to meet its current liabilities by converting assets into cash quickly in-order to pay back the debtors. Table 3: SL.NO. LIQUIDITY RATIO HRN 2010 HRN 2009 GAW 2010 GAW 2009 1. Current Ratio 2.11 1.48 2.04 1.74 2. Liquidity/Acid Test/Quick 1.38 0.72 1.49 1.14 1. Current Ratio This ratio indicates whether the company has sufficient current assets to pay its immediate liabilities within the same accounting period. Current Ratio = Current Assets Current Liabilities The higher the ratio, the more liquid the business is considered to be. The ideal current ratio is suggested to be 2 times or 2:1. HRN has shown an increase in its current ratio from 1.48:1 to 2.11:1 and it is slightly higher compared to GAW which has increased from 1.74:1 to 2.04:1. Therefore both companies have the ability to pay its liabilities and have been increasingly stable over time and has met the standard expectation of 2:1. 2. Liquidity Ratio or Acid Test/ Quick Ratio: For many businesses, Inventory cannot be quickly turned into cash. So, it is excluded from the current assets for calculations. If the ratio falls below 1:1 then the company is having some liquidity problems. Liquidity Ratio = Current Assets Inventory Current Liabilities HRN shows an increase from 0.72:1 to 1.38:1 in 2010 whereas in GAW, it has increased from 1.14:1 to 1.49:1, which is slightly higher than in HRN at 2010. This change is caused due to the difference in stock levels. Since the ratios have not fallen below 1:1 as expected, both companies show stable liquidity positions although HRN might have faced some problems in liquidity in the year 2009. D. GEARING Gearing means borrowing and it measures how much percentage of the capital employed is borrowed from lenders or the bank. Interest is charged on capital repayments and if a company borrows heavily, it risks becoming insolvent. The advantage of gearing is to increase the returns to owners because the loan interest rates are relatively low compared with the returns that a business can earn. Gearing is calculated to find out whether the company has the ability to repay its loans or debentures. Table 4: SL.NO. GEARING RATIO HRN 2010 HRN 2009 GAW 2010 GAW 2009 1. Capital Gearing 22.82 19.17 3.53 27.23 2. Interest Cover 7.42 8.57 43.72 4.99 1. Capital Gearing: This ratio measures the contribution of long-term borrowing to the capital employed. Capital Gearing = Long-term Borrowings x 100 Capital Employed A low Capital Gearing is preferred. Gearing in HRN has increased by 3.65% in 2010 and is 22.82% whereas in GAW it has greatly reduced to 3.53% in 2010 from 27.23% in 2009. GAW has a very low gearing ratio comparatively and thus its interest payments will also be low. A company is expected to have a gearing ratio of not more than 30%. Although both companies are in a good financial position, GAW is positioned extremely well. 2. Interest Cover This ratio measures the amount of profit available to cover the interest payable. The lower the interest cover the higher the risk of inability to repay the loan along with its interest charges. It is measured as the number of times that the interest could be paid out of the profit earned. Interest Cover = Profit before Interest and tax (times/year) Interest Payable The interest Cover for HRN has decreased from 8.57 times to 7.42 times in 2010 because of the decline in its profitability and the slight increase in its borrowings; in GAW, it has shot up to 43.72 times in 2010 from just 4.99 times in 2009. GAW has a very high Interest Cover and is in a safe position. This is because of the high profit it made, which has enabled the company to pay most of its loans. A company is expected to have a minimum cover of 3 times; 7 times or greater is considered good. If the company is stable over time, the bank will accept lower covers, if its volatile or unpredictable in terms of t heir profitability; the banks will expect standard covers. Therefore, GAW shows that it is doing extremely well in terms of financial position. Thus, the above analysis made using ratios proves that GAWs financial performance and position is better than HRNs. PART B: Industry Analysis and future prospects for industry and investment. GAW and HRN operate in the toys and games (TG) market which is divided into three primary sectors: games consoles, games software and traditional toys and games. The games consoles market consists of all console sales by Nintendo, Microsoft and Sony including handheld systems. The software sector covers all console and PC games. Traditional toys include action toys, activity toys, dolls, games/puzzles, infant/pre-school toys, ride-ons, vehicles and other miscellaneous toys and games. 1. Industry Information: The UK market for TG enjoyed year-on-year growth until a decline in revenues in 2008, followed by a deeper fall in 2009. Sales in the market declined in 2009, reflecting the downturn in the wider UK and global economies. Retail competition has helped to keep prices lower, with the supermarkets offering toys as loss leaders and Internet operation comparisons bringing increasing transparency to the market. The TG market is in line to recover from 2010; early company results for the first quarter indicate a more positive performance. The rise in the under-10s population and the eventual economic upturn will drive growth in sales. The market condition is driven by a number of factors: The trade has long been habituated to declining numbers in its target market, but will now benefit from a higher fertility rate. Tougher economic conditions are likely to mean lower volume sales, but could benefit sectors perceived to offer better value such as games and puzzles. https:/ /academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200HYPERLINK https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200anchor=atom/display/id=429664?select_section=429665HYPERLINK https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200anchor=atom/display/id=429664?select_section=429665anchor=atom/display/id=429664?select_section=429665 The window of childhood may have shrunk as kids move onto adult interests faster, but the toys and games market has so far proved resilient, although that may not remain so. Old favourites are gaining new fans through nostalgia, as well as the belief that they have proven their worth and offer real quality and value. Christmas is still the big event, accounting for around half of sales, but the trade would benefit from building up sales across the rest of the year. https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200HYPERLINK https://academic.m intel.com/sinatra/oxygen_academic/my_reports/display/id=280200anchor=atom/display/id=429662?select_section=429664HYPERLINK https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200anchor=atom/display/id=429662?select_section=429664anchor=atom/display/id=429662?select_section=429664 2. Industry Analysis using SWOT: STRENGTHS: Parents support many toys as a way to learn through play. Regular infusion of new products refreshes the market. Awareness of licensed products boosted by extra visibility in other formats (eg TV and film, books, comics, clothing). WEAKNESSES: Kids tastes can be highly unpredictable and sudden fads cause problems in meeting demand. But with no must-have toy or game then sales can be sluggish. Competition growing from more forms of digital media. https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200HYPERLINK https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200anchor=atom/display/id=429666?select_section=429667HYPERLINK https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200anchor=atom/display/id=429666?select_section=429667anchor=atom/display/id=429666?select_section=429667 OPPORTUNITIES: The trend of buying a toy for a new baby increased from 13% in 2003 to 26% now. The more reasons to buy such as childrens parties or to appeal to the traditional image of a happy family all playing a game together directly translates into sales. In an already strong market these views suggest toy companies and retailers could benefit still further by stressing aspects such as the durability and adaptability of their products. https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200HYPERLINK https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200anchor=atom/display/id=429674?select_section=429675HYPERLINK https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200anchor=atom/display/id=429674?select_section=429675anchor=atom/display/id=429674?select_section=429675 THREATS: Sports and hobbies are the other growth area for 7-10s, meaning sales opportunities for products such as craft materials, skateboards, train sets and models. All the major direct competitive sectors such as magazines, video games and books are doing well, showing kids have a great capacity for many forms of entertainment. https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200HYPERLINK https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200anchor=atom/display/id=429665?select_section=429666HYPERLINK https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200anchor=atom/display/id=429665?select_section=429666anchor=atom/display/id=429665?select_section=429666 3. Future prospects for industry: In todays unfavourable economic conditions, consumers will choose more carefully. They will be increasingly looking for games and toys they think deliver good value over time. In the longer term the market will continue to benefit from broader underlying factors as well, including childrens enjoyment of toys, their urge to collect, parental desire to give their children pleasure and help them learn, film and TV influence, and a growing child population. However, is real longer-term growth attainable? On balance yes. But manufacturers could do more to ensure sound growth and their own security by ensuring they keep in step with older childrens changing attitudes, by reducing their reliance on licensed product, and developing high-quality and innovative products whether for their own ranges or for licences. https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200HYPERLINK https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200 anchor=atom/display/id=429666?select_section=429669HYPERLINK https://academic.mintel.com/sinatra/oxygen_academic/my_reports/display/id=280200anchor=atom/display/id=429666?select_section=429669anchor=atom/display/id=429666?select_section=429669 UK sales of toys, 2003-13  £m  £m at 2008 prices ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬m 2003 2,054 1,756 2,969 2004 2,081 1,850 3,067 2005 2,100 1,956 3,072 2006 2,142 2,045 3,142 2007 2,187 2,143 3,197 2008 (est) 2,078 2,078 2,826 2009 (fore) 2,023 2,055 2,710 2010 (fore) 2,073 2,143 2,819 2011 (fore) 2,123 2,239 2,887 2012 (fore) 2,158 2,347 2,934 2013 (fore) 2,201 2,493 2,993 Prospects for investment: Investor ratios are used to assess the investors returns on their investment. For this purpose, the Earnings per Share (EPS) and the Dividends per share (DPS) are used in calculation. EPS: It is the earnings generated by the business, available to its shareholders and compares profit after tax with number of shares in issue. DPS: This ratio compares a firms dividends with the number of shares receiving the dividend. Not all companies pay dividends. SL. NO RATIO HRN GAW 2010 2009 2008 2010 2009 2008 1. EPS (p) 9.75 11.2 16.2 48.4 17.82 2.4 2. DPS(p) 5 2.7 8.5 25 0 0 SL.NO. INVESTMENT RATIO HRN GAW 2010 2009 2008 2010 2009 2008 1. Dividend Payout% 51.3 24.11 52.63 51.65 0 0 2. Dividend Yield% 3.96 3.97 4.49 7.23 0 0 3. Price Earning (p) 12.91 6.07 11.7 7.15 11.73 72.5 Table 5: 1. Dividend Payout (DP) It measures the proportion of profit that a company pays out to shareholders in the form of dividends. DP = (DPS/EPS) x 100 Over time, HRN has not been stable showing sharp decline and incline; GAW did not pay dividends for 2 years and started in 2010. The average DP in UK is 50%; both companies are paying reasonable dividends. 2. Dividend Yield (DY) It measures the rate of return that an investor gets by comparing the DPS with the market share price. DY = (DPS/Share Price) x 100 The rise or fall in the DY is indirectly proportional to the share price. The DY for GAW is higher than HRN. 3. Price Earnings Ratio (P/E) It relates the share price to the EPS and measures the market/investors confidence in the future of the company. PE = (Share Price/EPS) HRN shows better P/E than GAW which is because of the differences in share price; share price depends on the demands and supply levels in the market. 4. Future Prospects for investment: GAW- The effort put into streamlining the business is already reaping huge rewards, and with the focus shifting to sales improvement, operational gearing means further earnings progress is likely. On a forecast PE ratio of 10 and yielding nearly 6 per cent, the shares are a buy. (Reference: https://www.iconline.co.uk) Hornby have not been so lucky and are recovering from the recession and problems it encountered with its suppliers. However, HRN said it was seeing an early pickup in demand ahead of Christmas based on the hit film Toy Story 3 and producing toys for the 2012 Olympic Games. HRN Earnings are 1.2p higher at 11.9p thereby producing a PE ratio of 12. The dividend is forecast to rise from 5p to 5.7p and to 7p in 2011-12. The shares remain good value backed by some famous toy brands and rising sales via supermarkets. (Reference: https://www.iconline.co.uk MARKET FORECAST: GAW Forecasts (table a) Year Ending Revenue ( £m) Pre-tax ( £m) EPS P/E Div Yield 31-May-11 128.85 17.20 39.80p 11.1 27.46p 6.2% 31-May-12 132.90 18.30 41.75p 10.6 29.96p 6.7% (Reference: https://www.digitallook.com) HRN Forecasts (table b) Year Ending Revenue ( £m) Pre-tax ( £m) EPS P/E Div Yield 31-Mar-11 68.30 6.40 11.90p 13.2 5.70p 3.5% 31-Mar-12 74.50 7.80 14.60p 10.8 7.00p 4.3% (Reference: https://www.digitallook.com) Market Data for GAW HRN (table c) (Reference: https://www.digitallook.com) GAW HRN Currency UK Pounds Share Price 437.50p 155.50p Change Today -5.00p -2.00p % Change -1.13% -1.27% 52 Week High 450.00 172.00 52 Week Low 246.50 113.00 Volume 3,050 23,281 Shares Issued 31.14m 37.99m Forecasts predict that investing in GAW will be better than in HRN. PART -C: Advice on Investment Decision. 1. Assumption of Stephens attitude to risk: In the event of choosing between GAW and HRN, we assume that Stephen will invest in the company that maintains higher profitability in the industry and earns better returns to its shareholders in spite of economic conditions that lead to changes in the share price regularly and also avoiding the risk of large borrowings which may lead to inability of repayment eventually resulting in lower returns and dividends or no dividends at all. 2. Advice on Investment: HRN has got good prospect for growth in the years to come. However, it is not as stable as GAW and comparatively has shown lower performance and position levels. Its producing toys for the Olympics in 2012 will definitely boost its Revenue but what happens after that? Unless it increases its revenue by either increasing the selling price or reducing operating costs, etc, profits made at the moment will not earn returns greater than those in GAW. Therefore, based on the financial and industry analysis, it is strongly recommended that Steven should invest with GAW, considering his approach to risk. Over the last few years GAW has shown a steady and considerably good increase in the area of profitability and has proved itself as an efficient company. It was able to pay back almost all of its debts within a short duration and its liquidity position is three times a year. The company has shown stability over the years and this reflects good management, leadership and financial streng th. Hence, Stephen should choose to invest in GAW rather than in HRN, considering the forecasts made on investments.