Thursday, November 28, 2019

The Australian Car Market Best Pricing Strategy

In this age, competition is becoming stiffer for companies and businesses. At the same time consumers are becoming more complex and aware of their rights and end up demanding for better services and products.Advertising We will write a custom assessment sample on The Australian Car Market Best Pricing Strategy specifically for you for only $16.05 $11/page Learn More There is therefore only one way that companies can survive in this market and this is by identifying and seizing opportunities as they occur. Companies are forming specific departments and employing highly qualified employees to scout and search for opportunities that will open doors for greater business potential that will translate to more profits and growth[1]. The leapfrog strategy is a strategy that is employed by those who know the importance of being the first mover and seizing opportunities before anyone else does. It is with the same spirit that aspiring entrepreneurs also scan the e nvironment for better opportunities that will allow them venture into business[2]. Businessmen and business executives don’t just wake up one morning and decide to pursue a given business line, they instead conduct research and use various models to arrive to that decision. Such models involved in environmental scanning may include, Strength, Weakness, Opportunity, Threat Analysis (SWOT), Market opportunity analysis (MOA)[3], Portfolio Analysis which is suitable for existing product lines, and many more models. Such models are used to bring out clear what if situations which are combined with current situations to support strong business decisions. Venturing into business without any plan and particular understanding is similar to gambling therefore a lot of research and strategy is needed. Environmental scanning is the first step in identifying the kind of opportunities that exist in the market once such opportunities are identified, it is then that they can be evaluated and pursued with confidence[4]. Any organization or entrepreneur who wants the chunk of money that is available in the market must understand that there is the internal and external environment in business. The internal environment consists of values, culture and resources. While the external environment consists of more dynamic and unpredictable forces which must be well understood before carrying out any decisions.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Australian car market is on decline. A report by IBIS world Australian Research Company indicates that the automobile makers are having a rough time. Over the last five years, the automobile industry earnings’ are expected to reduce by up to 6.1% yearly to settle at $11.91 billion owing to hard economic times and other factors. The problems of car manufacturers are as a result of, more fuel-efficient and eco friendly vehicles owed to environmental concerns and the soaring cost of petrol that is gaining base amongst consumers. Consequently it is now a huge issue for local manufactures who have been concentrating on large high fuel consuming automobiles. Truck manufacturers have realized that consumers are starting to demand for automobiles that use cleaner fuel sources .There has also been a sharp decline in the sector of freight trucks which is not necessarily because of ecological concerns. The fall of demand in marketing does not translate to lack of business and opportunities it is through business reengineering and massive research that other business opportunities occur. Although current market trends and records by the Federal Chamber of Automotive Industries (FCAI) indicated that approximately 85,000 passenger cars, SUVs and commercial vehicles were sold in September, up by about 9 per cent on the same month of September last year. This Septembers automobile sales spiked up to shadow the previous highest September record sales which were last seen in 2005 nearly 600 units. As cited by (FCAI) â€Å"it is therefore encouraging for the participants of the automobile industry to witness that sales to private buyers recorded the largest increase this month by approximately 14% which is further a sign of renewed confidence in Australian automobile market†. Given this strong and renewed confidence in the Australian market it is expected that over 1 million cars will be sold this year as compared to the previous estimate of 980,000. According to the FCAI the Australian market has only managed to sell over one million cars in a given year only two times previously. The SUV section recorded the highest sales during September, with an increase of approximately 36% followed by passenger cars which were up by 3% and then light commercials vehicles which grew by 2%. Accordin to the (FCAI) website â€Å"Toyota was the top automobile selling company with sales of about 16,1 85 automobiles, with Holden managing 10,718 automobile units then, Mazda with a total of 8,850 units in September†. Starting from January to September 780,720 vehicles have been sold, which is a hike of 14.5 per cent compared to last year sales. It is therefore evident that although researchers and the Federal Chamber of Automotive Industries (FCAI) expected the industry not to do well in 2010 but the consumers have surprised them. This is especially good because the local motor industry is being overtaken by foreign automobile manufacturing companies’ especially Chinese manufacturers who seem to have favorable pricing strategies which seem appealing to locals.Advertising We will write a custom assessment sample on The Australian Car Market Best Pricing Strategy specifically for you for only $16.05 $11/page Learn More The Australian Capital Territory, New South Wales, northern Territory ,Queensland ,South Australia ,Tasmania, Victoria, West ern Australia serve as Australia largest automobile sales territories with the Australian capital territory pushing almost 25,000 units monthly which is higher than any other region in Australia. It is therefore necessary to analyze the external environment critically and conduct an market opportunity analysis (MOA ) .will assist you understand were most viable opportunities are located in the industry[5]. The external environment consists of the immediate task environment which has the customers, competitors, government and its agencies, shareholders and other special groups which at the end of the day influence the magnitude and type of opportunities that exist in a given market. Apart from the task environment there is the societal environment which consists of legal forces, economic forces, political and social cultural which also at the same time shape the kind of opportunities that exist in a given industry; It is by fully understanding this forces that a given business entity can formulate a recipe of success. A market opportunity analysis (MOA) is carried out in the following way Appendix A: an illustration of how to conduct a market opportunity analysis. By understanding geographic, demographic, behavioral, psychographic and behavioral patterns of various market segments it is then that the company can tackle the issue of pursuing any opportunities with high accuracy [6]this model helps corporations recognize problems, gather information, evaluate the marketing needs of consumers in terms of product, place, pricing and promotion.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More According to Plunknet research limited and other many automobile research institutions the global motor industry is showing the following trends the automobile Industry, global rivalry heats up between United States, German, Japanese, Chinese and Korean Car Makers. The issue of fuel efficiency becomes a vital element in the purchase of automobiles. Therefore hybrid cars such as the Prius are steadily gaining market share and there seems there is a new frontier that is opening up for electric cars. Many companies are therefore dedicating million of dollars to research on Lithium batteries and environmentally friendly diesel technology is gaining more popularity in automobile manufacturers. Research indicates that by outsourcing component design and sharing manufacturing resources such as is the case with BMW and Volkswagen will result to massive advantages. Automobile purchasers are relying on internet and web based purchasing modes rather than go to car dealerships. China and India have recorded record growth in automobile sales therefore attracting interest of the largest car makers in the world. Consumers are opting for safety and luxury car models, SUVs, Small Sedans and Crossovers leading to an expansion Market Share. People all over the world prefer SUV’S because they seem to be good family vehicles saving costs rather than having more than one car. With Holden, Toyota, Ford, and Mitsubishi being the largest automobile manufacturers and selling companies who move most units by selling SUV’s and Medium, Light/Small cars selling the best in all Australian territories according to Federal Chamber of Automotive Industries (FCAI) this year and this quarter. It is expected that car sales will hit over one million units which has only happened twice to date it is therefore to realize that this are the major areas of opportunity in the Australian motor industry. It may therefore be difficult for Great wall motors to compete with existing competitors such as GM Holden, Toyota, Ford, and Mitsubishi which have been in the business for over half a century. The kind of trust and intangible brand value attached to these companies is massive, and in order to compete with them massive marketing campaigns and resources need to be put into place[7]. The total evaluation of the marketing facets of product, price, place, and promotion can demand to be reviewed in order to capture the attention of Australian consumers. According to porter’s generic model of competitive strategies companies can choose one of for competitive strategies these are cost leadership whereby a broad target market and low cost is implemented, secondly cost focus whereby a narrow market and a lower cost is pursued thirdly, differentiation were a larger market and product differentiation is pursued and lastly differentiation focus which the company implements a strategy of serving a narrow target market and high differentiation is involved. By following a diff erentiation strategy must have a lot of financial resources to provide unique and superior products as compared to its competitors[8]. A lower cost strategy is a strategy is a strategy where the company pursues a path which requires the company to efficiently produce its products as compared to its rivals to serve a wider scope, resulting to lower pricing. Great wall motors should pursue this strategy because the much bigger companies such as GM Holder, Toyota, and Ford seem have more resources financially and in terms of research and development and it may exhaust Great Wall resources. Having environmental concerns and pricing and fuel consumption as explained above, it is therefore this forces that should be the forces that should force the future strategies if Great wall Market for it to survive and make a killing in the Australian industry and global market, at the same time quality should be considered within the confines. The risks associated with cost leadership are that othe r competitors can easily imitate, and once the bases of cost leadership erode a company may find itself in trouble. Its biggest advantage is that it serves a wider and larger market. Claims are that the Australian motor industry is going down the tube because of the invasion of cheaper Chinese models; it is this statement that clearly shows that there is massive potential for Great wall motors. Great wall Motor industries should follow Stability strategy as it continues to venture into other areas of Australia and proceed with caution. Such a strategy reduces the amount of risk it faces but it should also expand the number of its dealership and have a good internet site were online ordering can occur and delivery can be hastened. Embarking on massive awareness campaigns[9] which involve advertising especially using opinion leaders, and well known and trusted Australians can offer your company new opportunities and broaden you market. If possible it is also good that the company form s strategic alliances with existing companies such as garages and financial institutions that will enhance its image as a well known and giant automobile manufacturer. Offering special packages to corporate and state department for purchases can help the company get massive awareness and boost its image as far as the Australian industry is concerned. Therefore in summary Great wall motors should concentrate on formulating the best pricing strategy that will capture a wider market, as compared to other top manufacturers who focus on their brand value and reputation. Bibliography Carsrud, AL, Brà ¤nnback, ME, Entrepreneurship: Illustrated edition, Greenwood Publishing Group, Melbourne, 2007. Francis, B, Customer Relationship Management, New York, NY, Butterworth-Heinemann, 2009. Kotler, P, Keller, K, Marketing Management (13 edition), Prentice Hall, New York, NY, 2006. Locker, KO, Kienzler, DS, Business and administrative communication (9th edition), New York, NY, McGraw-Hill, 201 0. Mathew A, Kaye, J, Simplified strategic planning, a no-nonsense guide for busy people who want results fast, Chandler House Press, Worcester, MA, 2005. Paul, R, Customer Service: Career success Through Customer Loyalty, 4th edn, New York, NY, Prentice Hall, 2007. Porter M, Competitive advantage, illustrated edition, free press, Northampton, MA, 2004. Footnotes AL Carsrud, M, E, Brà ¤nnback, Entrepreneurship: Illustrated edition, Greenwood Publishing Group, Melbourne, 2007, p.87 Mathews A, J Kaye, Simplified strategic planning, a no-nonsense guide for busy people who want results fast, Chandler House Press, Worcester, MA, 2005, p. 69 P Kotler, K Keller, Marketing Management, 13 edn, Prentice Hall, New York, NY, 2006, p. 90 A. Mathew, J Kaye, Simplified strategic planning, a no-nonsense guide for busy people who want results fast, Chandler House Press, Worcester, MA, 2005, p. 48 P Kotler, K Keller, Marketing Management, 13 edn, Prentice Hall, New York, NY, 2006, p. 67 A Mat hew, J Kaye, Simplified strategic planning, a no-nonsense guide for busy people who want results fast, Chandler House Press, Worcester, MA, 2005, p. 85 Mathew A, Kaye, J, Simplified strategic planning, a no-nonsense guide for busy people who want results fast, Chandler House Press, Worcester, MA, 2005, p. 53 M Porter, Competitive advantage: illustrated edn, free press, Northampton, MA, 2004, p. 31 K O Locker, DS Kienzler, (2010), Business and administrative communication, 9th edn, New York, NY, McGraw-Hill/Irwin. This assessment on The Australian Car Market Best Pricing Strategy was written and submitted by user Giovanni F. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Sunday, November 24, 2019

Opera Development in Italy essays

Opera Development in Italy essays Although opera did not originate in Venice...it found a most nurturing environment in the Most Serene Republic (Rosand, p. 8). Much of Europes music was dominated by Italian opera during the late seventeenth and early eighteenth centuries. The wealthier upper class would commission huge works that combined music, drama, and dance for the first time in history. This combination of the fine arts was the birth of opera. Several cities in Italy, Florence, Naples, Rome, and Venice in particular, contributed to the development and perfection of the new genre (Kimbell, p. 26). The entire opera movement was born in Florence, Italy. It all started with Bardi and the Florentine Camerata, which met in an attempt to recreate Greek drama. At the time, it was assumed that early Greek tragedies were sung, and therefore, people wanted to recreate this sound (Sternfeld, p. 56). This camerata influenced the rise of music in Florence, but the city was not eager to support opera. One distinct characteristic of opera that was partially developed in Florence is monody. Monody is an accompanied solo song. It soon became an almost essential part to any opera. Florence also produced such musical geniuses as Cavalieri, Peri, and Caccini. Florences upper-class, wealthy community supported the opera greatly, which helped to establish Italy as one of the centers of opera during the entire Baroque movement. Naples is most known for the opera buffa, or the comic opera. This Neapolitan opera, as it was called at the time, was only successful within the city, though. Its relevance to everyday life and the rise of dialect comedies caused people to fall in love with this different type of opera. The dialect comedies put emphasis on local plot settings, in order to further bring out the humor (Galatopoulos, p. 44). In Rome, the Catholic Church, rather than the wealthy public, gre ...

Thursday, November 21, 2019

Who do they say you are Essay Example | Topics and Well Written Essays - 1000 words

Who do they say you are - Essay Example All of us dream of becoming something great in future. We all have our own resolutions, and we all have something to achieve. It is a common misapprehension that dreams are hard to achieve. A lot of people give up on their dreams even before trying. I used to have the same assumption when I was a child. But, now I feel the exact opposite. We should remember that each and every thing is possible as long as we believe. It is important to understand that dreams should always be kept alive. Transforming our dreams into realities is solely dependent on us. We are the ones in control of our dreams, our lives and we are the ones who can turn our dreams into a fabulous reality. What is required is faith and determination. A person can overcome all hurdles in life if he believes in himself, has faith and is determined and dedicated. I believe there is a difference in dreams and goals. A dream is a fantasy; it’s a flight out of imagination. A fantasy, on the other hand, is accompanied by a plan on how you intend to achieve what you dreamt of. A person with a dream would state, â€Å"Someday, I will be a topper in my field of work.† A person with a goal would instead state â€Å"Someday, I will be a topper in my field of work. I will achieve this by perseverance, and by being dedicated and determined in my efforts consistently. â€Å" There are some dreams, or rather goals, which are very close to my heart. Learning English language and being good at expressing me in English is one. I have promised myself to work relentlessly to achieve this. Another goal is to complete my studies thereby gaining wisdom. I want to prove myself in my field of work. A life is spent worthwhile if we spend it trying to reach our hopes. This makes us a better human being. But, the dream which holds the most importance for me is to join medical mission trips to poor countries in the world once I graduate form nursing. Previously, when I

Wednesday, November 20, 2019

Cost of Capital Coursework Example | Topics and Well Written Essays - 250 words

Cost of Capital - Coursework Example First, the cost of debt is a component of the weighted average cost of capital, and it refers to the interest paid on a certain amount if a company borrows funds from outside or it is obliged to take a debt from financial institutions. It is usually expressed as a percentage rate. Besides that, it is computed either as an after tax rate or before tax rate. Second, the cost of preferred stock is the rate of return needed by the preferred stock holders in a company. It is usually computed by dividing the yearly dividend payment on the preferred stock by the current market price of the preferred stock. Third, the cost of common stock is also known as cost of equity and is the minimum rate of return that a firm is supposed to generate so as to persuade the investors to invest in the common stock of the company at its current market price. Lastly, the cost of retained earnings is a component of the cost of equity. However, it excludes the taxes as well as the transaction costs associated with dividends making it slightly less than the common stock (Brigham & Houston, 2015). The cost of retained earnings should be at least equal to the shareholders’ rate of return on the re-investment of the company’s

Sunday, November 17, 2019

Cockpit display visual Research Paper Example | Topics and Well Written Essays - 1000 words

Cockpit display visual - Research Paper Example The cockpit will inform them the positions to be in order to avoid any encounter (Weber, 2011). However, proper information has to be fed to the pilots for them to make accurate decisions. Cockpit visual display systems rely solely on highly reliable and accurate mathematical algorithms that correctly tell the cockpit the right air path that the pilot should maintain in order to avoid collisions. Despite the many lives that the cockpit has already and is still saving, the problem lies with the vision of the pilots. Does the lighting system of the cockpit affect the eyes of the pilots? The human visual sense has so many limitations that make it had to adapt to the complex environment in the air. The three dimensional movements and high speeds present in the air are too demanding for the human eye. Furthermore, the human vision is prone to illusions especially at night or when there is poor lighting. Since the human eyes cannot be relied upon to safely navigate through the air, the best substitute is automatically the cockpit. However, the cockpit system should not be a hazard to the pilots because as the eyes’ performance keeps waning, the higher the risks of accidents occurring (Aviationknowledge, 2012). The human eye has two color receptors: Rods and Cones. The cones are found at the center of the Retina while the rods are found at the periphery of the retina. Cones are responsible for photopic vision used when there is light while Rods are responsible for Scotopic vision used in darkness or when there is poor illumination. During the post World War II era, all aircrafts utilized the red light for the cockpit lighting since it did not degrade adaption of the eye to darkness (American Optometric Association, 2011). Nowadays, cockpits are made up of white light that is poor at preserving visual sensitivity for viewing. White light cockpits are being used today because they do not distort the true color of objects. Furthermore, red lighting

Friday, November 15, 2019

Definitions on the concept of nationalism

Definitions on the concept of nationalism Nationalism is a concept that is not easily defined. There are numerous definitions and forms of what is nationalism, and many of these definitions even overlap. However, there is no one definition that is more adequate than another. Keeping in mind that these definitions are constantly evolving, with thorough analysis and the juxtaposition of arguments set out by eight prominent scholars, a clearer definition of nationalism can be attained. To begin with, the most well know definition today is from Professor Anthony Smith. He states that nationalism is simply an ideological movement for attaining and maintaining autonomy, unity and identity for a population which some of its members deem to constitute an actual or potential nation (Smith, 2001). In this definition, Smith reveals what he believes the three main goals of nationalism are: autonomy, national unity, and national identity. Even Smiths profound definition has not been available for very long considering he was born in 1933. Although there is much argument on the definition of nationalism, Smith agrees that there is one main point of agreement and that is that the term nationalism is a modern phenomenon (Smith, 2001). Civic nationalism is basically defined as a group of people which have a certain loyalty to civic rights or laws and pledge to abide by these laws. Ethnic nationalism is basically a group that possesses a common culture, language, land, etc. It is more specific in terms of who can be in it (McGregor, 2010). Smith writes that every nationalism contains civic and ethnic elements in varying degrees and different forms. Sometimes civic and territorial elements predominate; at other times it is the ethnic and vernacular components that are emphasized (Smith, 2001). Smiths most popular argument features civic and ethnic types of nationalism as opposed to eastern and western types. Even more specifically, Smith makes the distinction between both civic and ethnic nationalisms. He also believes that Many modern nations are formed around pre-existing, and often pre-modern, ethnic cores (Smith, 2001). Smith is claiming that nations had pre-existing-origins prior to their new origins of their new nation. One of the most important arguments by critics is that the civic and ethnic viewpoint of nationalism collapses too much on the ethnic category (Shulman, 2002). Smiths definition seems to be the foundation for nationalism, although he ce rtainly was not the first to attempt to define it. Other scholars go in to more detail on certain elements of the definition, but most relate back to Smiths original definition. On the contrary to Anthony Smiths definition of nationalism pertaining to the civic and ethnic type, Hans Kohn has argued that the two main types of nationalism are eastern and western. His definition states, Nationalism is a state of mind, in which the supreme loyalty of the individual is felt to be due to the nation-state (Kohn, 1965). Kohns argument includes both eastern and western types of nationalism which refer to Eastern and Western Europe. Eastern nationalism conceived the nation as an organic community, united by culture, language and descent (McGregor 2010). This particular idea could possibly be related to Smiths ethnic type of nationalism. Western nationalism conceived the nation as a political and civic community, held together by voluntary adherence to democratic norms (McGregor 2010). Again, western nationalism could be perceived as a civic type of nationalism. This can be recognized as two similar classifications on two unfamiliar grounds. Kohn believes that national ism relates directly with eastern and western Europe and that it is also where the state of mind of nationalism originated. The main criticism of Kohns classification of nationalism is him being over simplistic. He certainly does not go into as much detail as Smith on the definition. He also relates only towards Europe which is why he is being identified as over simplistic. Next, Carlton J. H. Hayes definition of nationalism states, Loyalty and attachment to the interior of the group (namely the nation and homeland) are the basis of nationalism (Hayes, 1926). In this definition, a common cultural background and a common cultural group are considered the main factors in forming a nation (Naqvi, Ali). That remains true with most of the definitions of nationalism. Hayes definition of nationalism seems to be more specific to the ethnic ties toward nationalism. In other words, Hayes is saying that land, language, and blood are the basis of nationalism. He is saying that nation is something to be proud of (Naqvi, Ali). Hayes also believes that these ethnic qualities are the most important; even religion does not compare.   It is attachment to nationality that gives direction to ones individual and social postures, not attachment to religion and ideology. A human being takes pride in his national achievements and feels dependent on its cultural heritage, not on the history of religion and his faith (Hayes, 1926). This quote further proves Hayess view on nationalism and how it relates to ones culture and past, and specifically not related to religion at all. The reason Hayess definition is unique from others, is his emphasis on the fact that religion is not a factor in forming a nation. To further specify Hayess definition on nationalism he says, What distinguishes one human being from another are not their beliefs, but their birth-place, homeland, language and race. Those who are within the four walls of the homeland and nation, belong to it, and those who are outside it, are aliens. It is on the basis of these factors that the people have a feeling of sharing a single destiny and a common past. (Hayes, 1926). This quote goes hand in hand with Hayess definition of nationalism and just further explains it. According to Hayes, nationalism does not exist without that ethnic background. Furthermore, according to scholar Benedict Anderson, nationalism is, a new emerging nation imagines itself to be antique (Anderson, 2003). This is similar to how Anthony Smith and Carlton Hayes defined nationalism. It is mostly like Smiths ethnic nationalism, which focuses more on the origin of the nation. Anderson focuses more on modern Nationalism and suggests that it forms its attachment through language, especially through literature (Anderson, 2003). Of particular importance to Andersons theory is his stress on the role of printed literature (Anderson, 2003). In Andersons mind, the development of nationalism is linked with printed literature and the growth of these printed works. People were able to read about nationalism in a common dialect and that caused nationalism to mature (Anderson, 2003). Andersons definition of nationalism and nation differ greatly from other scholars. He defines nation as an imagined political community (Anderson 2003). He believes this because the nat ion is always conceived as a deep, horizontal comradeship. Ultimately it is this fraternity that makes it possible, over the past two centuries, for so many millions of people, not so much to kill, as willingly to die for such limited imaginings (Anderon, 2003). Not only is Andersons theory distinctive because of the printed literature theory, but also because it is the imagined political community. Another prominent Nationalist researcher, Ernest Gellner states that, nationalism is primarily a political principle that holds that the political and the national unit should be congruent (Gellner, 1983). Gellner was once a teacher of Anthony Smith. Although most scholars would agree that nationalism appeared after the French Revolution, Gellner further argues that nationalism became a sociological necessity in the modern world (Gellner, 1983). His argument is similar to the uniqueness of Benedict Andersons printed literature theory, but Gellner focuses more on the industrialization of work and cultural modernization to explain how nationalism expanded (Zeulow, 1999). Gellner believes that states only exist where there is division of labour, therefore the state comes before nationalism (Gellner, 1983). Like other scholars, Gellner believes that nationalism is a political force. Gellner also stresses the congruency of nation and politics. He does not believe one can occur without the other one. There are many criticisms to Ernest Gellners theory, including Anthony Smith saying, It misreads the relationship between nationalism and industrialization (Smith 1998). Not all of the critics view Gellners theory as a misread. Most agree that he is the father of nationalism studies and most say that his nationalism work was brilliant (University of Wales Press). One can usually relate their definition of nationalism with Ernest Gellner or Anthony Smith. Gellner stresses the importance of the political side, while Smith puts the importance on cultural. Neither are right or wrong, just a difference of opinion. Historian John Breuilly defends a more modern theory of nationalism, similar to Benedict Andersons. In reference to nationalism, he concludes, The rise of the modern state system provides the institutional context within which an ideology of nationalism is necessary (Breuilly 1985). Breuilly argues that the process of state modernization provides an important factor in understanding historical signs of nationalism (Cormier, 2001). Breuilly argues that nationalism does not have much to do with ethnicity or ethnic background, but rather more to do with political motivation. Breuilly is not the first scholar who believed that ethnic background had nothing to do with nationalism. In fact, Breuillys definition relates well to Gellners in the sense that they both argue in favor of political motivation. Nationalists are seen to create their own ideology out of their own subjective sense of national culture. (Breuilly, 1982). This particular quote is quite similar to Andersons imagined polit ical community theory in that Breuilly does not support the ethnic side of nationalism nearly as much as others nationalists. Breuilly criticizes most scholars due to the fact that they believe in national culture because he believes that there is no such thing. He believes that the political component of nationalism is by far the most important. Breuilly indicates in his definition the importance of the state system; hence the political force necessary for nationalism to occur. Next, Michael Hechter defines nationalism as a, collective action designed to render the boundaries of the nation congruent with those of its governance unit (Hechter, 2000). He further explains, Nation and governance can be made congruent by enacting exclusive policies that limit full membership in the polity to individuals from on one more favoured nations (Hechter, 2000). Hechter stresses the importance of the correspondence of the government and the boundaries of the nation; much like Breuilly in the sense that both of them indicate that nationalism requires congruency for it to take place. In Hechters book, Containing Nationalism, he expresses his belief that the reason nationalism occurs is because of self-determination. Hechter further explains his definition and clarifies that there are two different types of nationalism. The first one is of the ideology of freedom and he gives the example of the French Revolution. The second form is xenophobic or even goes as far as genocide (Hechter). This explains where the different views of nationalism come in; civic versus ethnic or eastern versus western. Furthermore, Hechter defines the two different types of nationalism to even more specific forms of nationalism that go beyond his original definition. These definitions include: state-building nationalism, peripheral nationalism, irredentist nationalism, and unification nationalism (Hechter, 2000). Hechter doesnt argue that there are two definitions of nationalism like other scholars do, but he concludes that nationalism is specific to the means of each and every situation. In Peter Alters definition of Nationalism, he states, Nationalism is a political force which has been more important in shaping the history of Europe and the world over the last two centuries than the ideas of freedom and parliamentary democracy or, let alone, of communism (Alter, 1994). His argument is similar to John Breuilly in the sense that he agrees that there is a strong emphasis on nationalism being a political force. Alter is saying that it has everything to do with being a political movement instead of the idea of freedom. In reference to nationalism, Alter states, It can be associated with forces striving for political, social, economic and cultural emancipation, as well as with those whose goal oppression (Alter, 1994). His outlook on nationalism seems much broader than other scholars. This particular reference virtually sums up many scholars definitions together. Alter does not seem to have a specific argument on nationalism, as in civic vs. ethnic or western vs. eastern but just an acceptance that nationalism could be based on all of these arguments. Again, Alter says, It can mean emancipation, and it can mean oppressionà ¢Ã¢â€š ¬Ã‚ ¦ dangers as well as opportunities (Alter, 1994). There is no precise argument when he tries to define nationalism even though he does have the idea that nationalism is directly related to a political force. Alter also states that nationalism was important to shaping Europe, however most scholars agree with that statement to begin with. Most modern scholars would relate to Alters style of defining nationalism. In conclusion, the definition of nationalism is not easily defined and scholars that have tried to define it differ, in some amount of detail, from each other. Each scholar seems to have his own uniqueness and input to the definition, however, these definitions tend to pertain to one certain area of nationalism. According to the eight previous scholars, there are a myriad of styles of nationalism including: political, cultural, ethnic, civic, eastern, and western. Many aspirations are desired because of nationalism, including establishment of homeland, separation, expansion, etc. Although the definition of nationalism is essentially particularistic, scholars have been able to identify a few common ideologies. Some common ground includes; most scholars agree that nationalism started after the French Revolution. They also agree that nationalism occurs because of a desire for national independence. Scholars are always doing research and finding new things which will result in new defini tions. Most of the most protrusive definitions of nationalism have come about in the last fifty or so years, so no telling what scholars might come up with in future years.

Tuesday, November 12, 2019

Essay --

Following WW I in the 1920’s, there was a decade of an economical explosion. The post-war era brought about many changes. Businesses showed great profits, migration to big cities of industrial companies occurred with the hopes of making a better life, people were given the opportunity to purchase things on credit, while others borrowed money making poor decisions buying high priced stocks with the intention of selling stocks for a profits to repay lenders. When Black Tuesday occurred on October 29, 1929, this marked the beginning of the Great Depression that left devastating economic hardships for the American people. Although it was always my belief that the stock market crash was the sole contributor of the Great Depression, there was actually a number of contributing factors that ultimately led to the great crash. The economic boom made it possible for companies to became more efficient with manufacturing and began stockpiling goods, once this occurred companies had to cut back on production. The wealthy stopped buying which led to further stockpiling. The work...

Sunday, November 10, 2019

A Dangerous Business Essay

The collaborative investigative report conducted by the New York Times and the Canadian Broadcasting Corporation is an eye-opener on the real situation of thousands of employees working for giant industrial corporations. On the outside, it seems that American workforce is definitely more fortunate compared to those who take employment in developing countries. The general public is made to believe that every employee in the US is treated fairly and with respect. But with this documentary, the truth has been exposed. For several years, the McWane Corporation has been actively involved in contributing to the advancement of the US economy. However, this economic achievement comes with a price. Unfortunately, the collateral damage in this enterprise for monetary profit comes in the package of the human resources. Ironically, this particular organizational component is deemed to be the most important factor in the accomplishment of success in any company. A business would not function without its employees and vice versa. This natural and logical cycle has always been evident in the business world. However, in the case of McWane, their workers were treated as if they were indispensable. See more: Satirical essay about drugs As a result, plants owned by McWane holds the record for the highest number of violations regarding safety in the workplace. Looking closely on these intriguing and appalling facts about America’s workplace safety and the government’s efforts to reinforce the protection and security of the welfare of the employees, it cannot be helped to doubt the justice and labor system in the US. Based on the interviews and the accounts of former employees of McWane, it can be surmised that there is a deliberate attempt to compromise safety for the sake of increasing productivity which will eventually lead to a significant boost in McWane’s revenues. Also, the government is very lenient in punishing companies that violate safety regulations because they are afraid that penalizing a powerhouse company can send a negative message to other corporations which could drastically affect the economy of the country. The dilemma here is whether to look after the global status of a nation or paying attention to the common good of the majority. Meanwhile, workers are belittled by the top management because they think that workers can be easily replaced. They know that people cannot live without work because common individuals need to sustain their ways of living with money. Companies exploit this situation wherein they make people feel they need any job as long as they will be paid so that they can be able to afford their chosen lifestyles. Because of this, many workers were injured, incapacitated and even died while on duty at their respective workplaces due to the neglect of management, leniency of the government and the build up on the dependency on monetary compensations.

Friday, November 8, 2019

Financial Statement Analysis Essays

Financial Statement Analysis Essays Financial Statement Analysis Essay Financial Statement Analysis Essay Financial Statement Analysis is an analysis which highlights important relationships in the financial statements. It focuses on evaluation of past operations as revealed by the analysis of basic statements. Financial Statement analysis embraces the methods used in assessing and interpreting the results of past performance and current financial position as they related to particular factors of interest in investment decisions. It is an important means of assessing past performance and in forecasting and planning future performance. Techniques of Financial Analysis: Various techniques can be used in the analysis of financial data to emphasise the comparative and relative importance of data presented and to evaluate the position of the firm. These techniques of financial analysis are intended to show relationships and changes. Among the widely can be used of these techniques are the following: 1. Horizontal Analysis 2. Vertical Analysis 3. Trend Analysis 4. Ratio Analysis Introduction to Finance: FINANCE HAS MANY DICTIONARY MEANING SUCH AS MANAGEMENT OF MONEY, PROVIDE WITH MONEY, FIND CAPITAL ETC. FINANCE PLAYS AN IMPORTANT ROLE IN ANY ORGANIZATION. FINANCE HAS NOW DAYS BECOME A SPECIALIZED FUNCTION. IT REQUIRE s overall knowledge of the environment in which it is needed. Finance includes money, banking or credit of different types and classes. Finance is viewed differently by different people depending upon their interests. Management’s promoters, shareholders, lenders (creditors), customers and other have all participated in financing the organization or business enterprise. MEANING DEFINATION: Finance is the process of conversion of accumulated funds to productive use. Finance helps to direct the flow of economic activity and facilitates its smooth operation. : Finances are the agent that produces the result. There are many definitions of Finance. Of all the best was of Howard and Upturn as â€Å"that administrative area of set of administrative functions in an organization which has to do with the management of the flow of cash so that the organization will have the means to carry out its objectives as satisfactorily as possible and at the same time meets its obligations as they become due. Finance is concerned with task of providing funds need by the enterprise on the forms that are most favorable towards the attainment of the organizational goals and objectives. The functions of finance are not merely furnishing funds to the organization. Finance has a broader meaning as it covers financial planning, forecasting of cash receipts and disbursements, rising of funds, use and allocation of funds and financial cash. The area of operation of finance management varies from one company to another, industry-to-industry etc. USERS OF FINANCIAL ANALYSIS: Financial analysis is the process of identifying the financial strengths and weaknesses of the firm by properly establishing relationships between the items of the Balance sheet and the profit and Loss account. Financial analysis can be undertaken by the management of the firm, or by parties outside the firm, viz.. , owners, creditors, investors and others. The nature of analysis will differ depending on the purpose of the analyst. Trade creditors are interested in firm’s ability to meet their claims over a very short period of time. Their analysis will, therefore. Confine to the evaluation of he firm’s liquidity position. Suppliers of long-term debt, on the other hand, are concerned with the firm’s long-term solvency and survival. They analyse the firm’s profitability over time, its ability to generate cash to be able to pay interest and repay principal and the relationship between various sources of finds (capital structure relationships). Long-term creditors do analyse the historical financial statements, but they place more emphasis on the firm’s projected, or proforma, financial statements to make analysis about its future solvency and profitability Investors, who have invested their money in the firm’s shares, are most concerned about the firm’s earnings. They restore more confidence in those firms that show steady growth in earnings. As such, they concentrate on the analysis lf the firm’s present and future profitability. They are also interested in the firm’s financial structure to the extent it influences the firm’s earnings ability and risk. Management of the firm would be interested in every aspect of the financial analysis. It is their overall responsibility to see that the resources of the firm are used most effectively and efficiently, and that the firm’s financial condition is sound. The different techniques for financial statement analysis are: i) Ratio Analysis ii) Trend Series Analysis ii) Common size statement analysis iv) Comparative statement analysis NEED FOR THE STUDY: The major objectives of financial statement analysis are to provide decision makers information about a business enterprise for use in decision-making. Users of financial statement information are the decision makers concerned with evaluating the economic situation of the firm and predicting its future co urse. This study may intended to know the requisition of financial analysis to communicate data to concerned users and their influence on decision making by users. Hypothesis of the Study: This study is to be conducted with a hypothesis that use of ratio analysis as a financial analysis technique is a very effective device to communicate financial data to users. And it can be done with an intention of communicating financial information and to assist decision making process. OBJECTIVES OF THE STUDY: This study is to be conducted with the following objectives- To know about financial statements and their interpretation To study about ratio analysis as a technique of financial analysis To explain the financial analysis process by way of analysing financial data of sample company i. . Maha Cement. SCOPE OF THE STUDY Scope of the study is to study on financial Statement Analysis on Maha Cement. INDUSTRY PROFILE HISTORY OF CEMENT: It must interest to know how cement is made today visa the historical background. Ever since civilizations stepping in the earth, people sought a material that would bind stones into a solid, formed mass. The Assyrians and Babylonians used cl ay for this purpose, and the Egyptians advanced to the discovery of lime and gypsum mortar as a binding agent fro building such structures as the Pyramids. The Greeks made further improvements and finally the Romans developed cement that produced structures of remarkable durability. The secret of Roma success in making cement was traced to the mixing of slaked lime with pozzolana, a volcanic ash from Mount Vensuvius. This process produced cement capable of hardening under water. During the Middle Ages this art was lost and it was not until the scientific spirit of inquiry revived that the rediscovered the secret of hydraulic cement – cement that will harden under water. Most of the building foundations in the Roman forum were constructed of form of concrete, placed in some locations to a depth of 12 feet. The great Roman baths built about 27 B. C. , the Coliseum, and the huge Basilica of Constantine are examples of early Roman architecture in which cement mortar was used. Portland cement today, as in Aspdin’s day, is a predetermined and carefully proportioned chemical combination of calcium, silicon, iron, and aluminum. Natural cement gave way to Portland cement, which is a predictable, known product of consistently high quality. Aspdin established a plant in Wakefield to manufacture Portland cement, some of which was used in 1828 in the construction of the Thames River Tunnel. But it was almost 20years later when J. D. White and Sons set up a prosperous factory in Kent that the Portland cement industry saw its greatest period of early expansion, not only in England, but also in Belgium and Germany. Portland cement was used to build the London sewer system in 1859-1867. Thomas A. Edison was a pioneer in the further development of the rotary kiln. In 1902, in his Edison Portland Portland_Cement Works in New Village, NJ, he introduced the first long kilns used in the industry 150 feel long in contrast to the customary 60 to 80 feet. Today, some kilns are more that 500 feet long. Parallel improvements in crushing and grinding equipment also influenced the rapid increase in production. Since grinding process consumes most of the energy various grinding systems like ball mill/vertical roller mill/roller presses has been the result of technological developments. Blending takes place in silos with air blown in from the bottom to aerate the contents. Various new designs were also developed to increase the efficiency of mixing. HOW CEMENT IS MADE? :- Two main methods of cement manufacturing were prominent, the Dry process and the Wet process. Dry process now has almost replaced the wet process since wet process consumes high thermal energy for drying the moisture. When rock is the principal raw material, the first step after quarrying in both processes is the primary crushing. Mountains of rock are fed through crushers capable of handling pieces as large as and oil drum. The first crushing reduces the rock to a maximum size of about 6 inches. The rock then goes to secondary crushers or hammer mills for reduction to about 3 inches or smaller. It is then ground in ball mill to fine powder with other ingredients like clay/iron ore/bauxite to create a combination of values for silica/alumina/lime etc in the mixture. If the process is wet, the grinding goes on in with water so that slurry is resulted after grinding. This slurry is further mixed in mixers and pumped to kiln. For a dry process kiln, the ground powder is sending to blending silos for uniform mixing of components added during the grinding stage. This blended material is feed to the preheater/calciner. The preheated is a group of cyclones placed over one another where in material comes down and hot gases goes up heating the material and calcining it in the process. Calcinations means liberating carbon dioxide and converting calcium carbonate to Calcium oxide. Calciner is nothing but a duct added to give more residence time to material for calcinations. This partially calcined material then comes to the kiln, which is refractory lined rotating tube having burner fitted in the other end. This burner fires coal/oil/natural gas to create a temperature of 1600 Deg cent at the discharge end. As the material in the kiln rolls down towards the discharge end, various reactions takes place amongst the components resulting in a mass known as clinker. This clinker is then cooled in coolers. The coolers are either planetary type or grate type. Grate coolers of modern time are much efficient resulting in better heat recuperation and allows reusing this heat in the kiln. The cooled clinker then either goes to storage silo or clinker yard. From the clinker yard it is taken for grinding. In case ordinary Portland cement is made only gypsum(4-6%) is added before grinding. In case of Portland pozzolona cement additives like Flyash/brick etc are added. Grinding again is same like for raw material grinding with ball mill or with latest technologies like vertical mill/Roller press etc. The cement powders then taken to packing plant or discharged from silo to a bulk loader directly. COMPANY PROFILE MAHA CEMENT PROFILE Establishment: The Organization â€Å"My Home Cement Industries Limited† is a fast growing and leading Indian industrial group having its head office at Hyderabad and works at Meelacheruvu in Nalgonda district in Andhra Pradesh. It belongs to the groups of my home constructions limited, a leading construction company in South India. The company is new entrant in the field of cement manufacturing where already leading brankds like Priyadarshini, Ramco, Raasi and Kakatiya have got deep penetration into the market. The brand name of the cement produced by the company is â€Å"Maha Cement† which is expected to have an image of Mahashakti and Mahavalue. M/s My Home Cement Industries Limited is a public limited company, which is incorporated in 1955. The company commenced its commercial products from 1st july 2000. The cement conforms to the ISI standards and is being marketed under the name of Maha Cement. Maha Cement Industries, a leading cement manufacturing company in Andhra Pradesh having an installed capacity of 6 Million Tonns per annum for immediate placement at their 3 plants located in Andhra Pradesh. Location of plant The factory is situated at Mellaceruvu, Nalgonda district . The pricipal raw material for the plant is limestone and is available in abundant quantities near the plan. Location of the plant at Meelacheruvu has the following advantages. 1. Cheap availability of the required land 2. Abundant water resources 3. Proximity of raw materials 4. Proximity of market 5. Availability of financial subsidiary 6. Plant is nearer to head quarter 7. Wearer to railway siding 8. Well connected road and rail transport 9. Availability of labors Salient features of Maha Cement High strength and great durability A very susceptible saving in cost (up to 20-25%) due to low setting time Superior quality of cement resulting in a better overall finish Stronger bonding with aggregates. Till now the company has not faced much difficulty in marketing its products. As the quality of cement produced by the company has been proved to very good. It has been well accepted by the markets in Andhra Pradesh and Tamilnadu. The company has established wide dealer network throughout the Andhra Pradesh and Chennai and at some places of Tamilnadu (north). In additions the group companies my home construction projects on hand would by cement from the company. The marketing department is aptly directed by AVP (marketing). The dealers are carefully selected after making a through analysis of the same. The company has marketing officers placed at strategic places to maintain the sales. RESEARCH METHODOLOGY Data: Both primary data and secondary data will be used but much stress may give to primary data in the form of financial reports of the company. Primary data with regards to financial data of MAHA CEMENT will be collected from the concerned authorities. Secondary data has to be collected by way of review of existing literature, reference books and articles in accounting and financial journals. This data can be used for gaining an insight into understanding how to interpret financial data and the result thereto. Sample: The sample for this particular study was MAHA CEMENT. Statistical Techniques: Ratios will be used as statistical techniques to analyse the data collected. CHAPTERIZATION I will divide the Total study into five Chapters and I will follow this plan of the study for the better outcome of the Project. 1st Chapter is allotted for the study about Introduction to the Topic, Objectives of the present study, Need, scope, Methodology and Limitations of the Study. 2nd Chapter is allotted for the study about Company and Organization Profile. 3rd Chapter deals with Theoretical background that supports the study. 4th Chapter Mainly emphasizes the Data analysis and interpretation. 5th Chapter is allotted for conclusion and suggestions.

Wednesday, November 6, 2019

The Final Night Aboard Essays

The Final Night Aboard Essays The Final Night Aboard Essay The Final Night Aboard Essay Im Mark Fortune, and Im aboard the Titanic, also sometimes know as The Unsinkable Ship. I have been aboard the Titanic since it set onward from Southampton. I am traveling with my family; all except my oldest two, who decided to stay behind at the mansion in Winnipeg, Manitoba. My family and I have been being accompanied by some of my personal friends John Ross, Thomas McCaffry, Thomson Beattie. We have been vacationing in many places such as Egypt, where John had became very ill. As a whole we decided that it would be best to head home, because we were all exhausted from our long journeys. So we cancelled our traveling plans, and made 1st Class reservation on the Titanic. Today has been an interesting day. Earlier I heard mention of approaching an ice field later this night from a crewmember to another crewmember. Many others on the ship had reported the same to me, but not one bothered to even appeal to the idea of a problem happening on this voyage. This day had been that of a normal day, nothing had happen today to bring much attention toward anything unparticular. It was a day at sea; the sun was out, and the sound of the ocean could be heard abroad. After having dinner I decided to retire for the night, and later be joined by my beautiful wife, Mary McDougald Fortune. After being asleep for a great while I was startled and woken up. I heard a scrapping noise from the ship, but didnt think much of it. I decided that since I had been waken up I should go investigate what had happened. I proceeded by getting some attire on including my favorite Buffalo coat, which my wife absolutely hated. It was very worn, but did its job to keep me warm. I noticed as I exited my room that I was not the only one that decided to investigate the noise. I heard someone mention seeing a large white cone like feature, which we seem to hit. Many re-entered their rooms to return back to sleep. I

Sunday, November 3, 2019

Motivation and Marketing Mix Essay Example | Topics and Well Written Essays - 2000 words

Motivation and Marketing Mix - Essay Example In the same way, Maslow’s theory was based on two key ideologies; they are classification of human needs and consideration of the relationship between the classes. Taylor held a fundamental and straightforward idea of what motivated people at work—money. According to his opinion, each worker should get a fair days’ pay for a fair day’s work, and the pay should be on the basis of amount produced using the piece-rates method. Thus, his theory explains that employees who do not delver a fair day’s work should be paid less or nothing and those who deliver more than a fair day’s work, going beyond the target should be paid higher. However, according to Maslow, an employee’s career begins at the bottom of the hierarchy, where he would primarily try to meet his basic needs. Moving higher on the hierarchy, he secondly searches for his psychological needs and safety needs at the next level. When these needs are met, they are no longer motivator s for him, so he would then want to satisfy his social needs, which the employer must use as a motivator. Finally, the esteem needs of an employee acts as a motivator such as, given appreciation for a job well done, awarding a promotion, etc. For example, as noted down by Oyedele (2011), a multi-national company in Nigeria watched their production increasing by more than fifteen percent after they had installed a ‘cold water tap’ and a ‘color television’ in the junior staff waiting room; the employees felt a sense of belonging in the organization and worked hard. Apart from these, the apparent weakness of Taylor’s ideology is that it leaves out the significant differences between different kinds of people. It is hard to make sure that a â€Å"best way† is going to suit everyone. In the same course, the Maslow model seems impracticable with the real-life practice as individual behavior may respond to not just one, but several needs at the same time. 2. Benefits of having a motivated work force In fact, employee motivation is one of the significant factors which help the organization to improve employees and thereby organizational performances, and hence, having a motivated workforce helps to achieve the competitive advantage that the organization tries to accomplish. There are many advantages of having a motivated workforce to the organization. First of all, an enhanced employee performance and efficiency helps the organizations to acquire higher productivity. According to Calrk (2003, p2-3), an organization having a motivated workforce can reduce their costs as the employees would not only work faster, but utilize their inventiveness to propose developments to the course of action which can lead the organization to save millions of dollars of overall cost . In the same way, motivated manpower will increase the quality of products produced by the organization (PSP Metrics, n.d). A team working efficiently will bring out t he best quality products and thereby reduce the cost of resources for work. This process helps to boost up the product value in the market making sure that the product release cycle is reduced to its minimum. Moreover,

Friday, November 1, 2019

Is the way Socrates founds the city in speech,especially the role of Essay - 1

Is the way Socrates founds the city in speech,especially the role of the guardians,compatible with 5th Century Athens How about Sparta or any other city or nat - Essay Example Thesis The role of the guardians bears resemblance with functions and duties of rulers in the 5th century Athens and can be compared with the role of communists in soviet Russia and Communist China. The guardians in The Republic bear resemblance with rules of ancient Athens. The most important political principle of Platos ideal state is rule by an enlightened elite, highly trained and educated for the role and endowed with a philosophical turn of mind that presumably assures the wisdom of their policies. Platos commentary is principally concerned with the training and duties of this elite class, the Guardians. In fact, Athens had a whole host of officials, for the most part annually selected boards of magistrates, each devoted to an aspect of social regulation. Magistrates shared some of the duties involved in policing Athens, their role and function will only indirectly be a concern of this work. Interpreted more narrowly, policing also describes the work of an organized police force, a disciplined, professional corps, whose duties include enforcing the law through investigation and prosecution and ensuring public order. The Guardians themselves are divided into two major gro ups. The larger group (sometimes referred to in the texts as "Auxiliaries") includes civil servants and a permanent military force, skilled in the art of war and dedicated to the task of defending the state from external enemies. In ancient Athens, there was social division: the military would be charged with keeping civil order within the state as well. The most important virtue of these Guardians is courage. However, those rulers who show a gift for rational and philosophical contemplation are eligible to become Rulers, who are charged with making the important policy decisions that the lower orders of Guardians will then carry out and enforce. In a direct response to what he saw as the corruption and decadence