Mary Oliver Rhetorical Analysis Essay

The jellyfish, a dangerously stunning underwater creature, can adequately symbolize the phenomenon that is nature. Nobody denies the â€Å"medusa† of its attractive features, such as, its dazzling pink color, elegant frame, and most important, its transparent body that displays running electricity. However, touch it underwater and experience the wrath of its devious abilities. Its colorful stingers have the power to inject an electrical toxin into their prey. It can kill. Furthermore, Mary Oliver, the writer of â€Å"Owls†, successfully delineates the two-faced personality nature is affiliated with. In this rich excerpt, Oliver makes it a priority to point out that nature can be both miraculous and corrupt at the same time. Like the jellyfish, nature can bring â€Å"immobilizing happiness†, but it can also be complex, and bring forth â€Å"death.† From the get-go, Oliver uses Vonnegut-like imagery to create a distinct contrast between the â€Å"terrifying† and the fascinating parts of nature. For instance, when Oliver describes the great horned owl and the fields full of roses. According to Oliver, the great horned owl has a â€Å"hooked beak† that makes â€Å"heavy, crisp, and breathy snapping† sounds, and a set of â€Å"razor-tipped toes† that â€Å"rasp the limb.† Not only that, but this mystical creature is characterized as â€Å"merciless†, and as a dark creature that would â€Å" eat the whole world† if it could. The fields full of roses, on the other hand, are used to symbolize happiness. They are described as sweet, lovely, and â€Å"red and pink and white tents of softness and nectar.† Through Oliver’s creative use of descriptive imagery, she begins to explain the incomprehensible mysteries of nature. In the same fashion, Oliver uses vivid and flamboyant   diction to emphasize nature’s intricate ways. To describe the darkness of nature, Oliver uses words such as, â€Å"hopelessness†, â€Å"headless bodies†, and â€Å"immutable force†. On the contrary, for the awing parts of nature, Oliver’s passage includes words like, â€Å"exquisite†, â€Å"luminous wanderer†, and â€Å"sheer rollicking glory†. As a result, her impressive style presents a clear image of how Oliver is â€Å"standing at the edge of mystery, and ultimately, â€Å"conquered.† Finally, Oliver uses her intimate appreciation for nature to relate to the audience and drive her claim home. First, Oliver uses an anaphora to talk about the field full of roses. Oliver begins eight consecutive phrases with the word â€Å"I.† Thus, implying the impact nature has on her as an individual, and alarming the reader of the love she has towards this prodigy. Oliver then acknowledges that â€Å"the world where the owl is endlessly hungry and endlessly on the hunt is the world in which† she lives too. Correspondingly, she mentions that nature’s curiosities involve the audience of this excerpt, as well as everyone else on planet earth. Indeed, in this lyrical excerpt, Mary Oliver uses her impressive style to describe how nature can be convoluted, charming, and over-powering. One can’t help to acknowledge the creative way Oliver uses the English language to successfully contrast the positive and negative parts of the environment. In addition, Oliver strives to make her nuanced writing and allegory for the complexity of nature. When looking at the big picture, it is easy to see how Oliver’s writing may exhibit to all how one might share whatever it is they feel passionately about.

The textbook was a very interesting and colorfully descriptive history text

I read approximately 350-400 pages in the text A History of Western Society, 8th Ed.   Ã‚  I didn’t read in a continuous style instead flipping through the book stopping at something interesting reading then reading several pages of that chapter, moving on to others gaining knowledge of several chapters of the book rather than focusing on one.It is a historical text on western civilization from Mesopotamia to the present, with focus on social history with chapters on Greece, Rome, religious wars, political revolutions, evolutions in energy and industry, expansion, urbanism, nationalism, dictatorship and the Second World War, even the Cold War.   I thought of it as a sociological perspective on history.The textbook was a very interesting and colorfully descriptive history text.   I liked that the theme of politics and culture were balanced giving the reader a chance to see it from a broader perspective.   It balanced the socio-economical structures during different peri ods in time that was very intriguing.The way the book was presented the reader with tools to help with self-educating and useful study guides for students to truly understand what it must have been like in the past, socially.   I felt the questions were really helpful in stimulating my own critical thinking.   Features all through the text gave interesting accounts of everything from groups to major historical events that put the reader right into history.I felt that the pictures were chosen well to present the material written.   I like that everything from resent news, art and European countries were given a fair introduction to western history.   I felt the authors were able to give a broader perspective to foreign countries that were much unbiased.   Islamic regions were also introduced to the reader in very stimulating terms. And I am glad to see that the expansion of history to include women and gender issues that has occurred in western society.   The section on w itch hunts and the Athenian women balanced the book nicely.I really enjoyed flipping through and reading the text and felt that it would be a very good tool to use for undergraduate study as an introductory class.   It gives the student a really good start on terms and concepts of sociology and history.   I felt that this would also be a good book for the use in Art History.The color photos clearly show the artistic beauty of many cultures and society.   The three authors John P. McKay, Bennett D. Hill, and Buckler are well respected and each is very proficient in history; which gave the book a solid scholarly mark for it to be a must reading.The book should be on any good historian’s book shelf.   The use of Blackboard I really liked because of the apparent growing use of that learning tool.   This text was full of teaching tools to use with that program that will help the first year student to become acquainted with something they will increasing begin to use on t heir trek towards their college degrees.Reference:McKay, J.P., Hill, B.D., & Buckler, J. (2006) A History of Western Society, 8th. Ed.     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Boston: Houghton Mifflin.   

What SAT IIs Should You Take if You Plan to Study Business?

When you’re in high school, you normally take the PSAT, the SAT, and perhaps the ACT as well. That’s enough testing to get you into college right? Alas, not always. If you’re an prospective business student, you may be expected to take additional SAT II tests, as is true for many other majors. Which ones should you take if you plan to study business? Read on to find out. SAT IIs (also known as SAT Subject Tests), are a supplementary component of your college applications. The College Board administers these hour-long, subject-specific tests in a variety of academic disciplines, from Physics to World History. Selective colleges sometimes require SAT II scores to get a better sense of applicants’ strengths. If a student is homeschooled, it’s even more likely that a college will require SAT IIs.    For the most part, students get to choose which SAT IIs they wish to take. However, some colleges may require or recommend the number of SAT Subject Tests the student should take, or the subjects themselves. These sort of restrictions definitely exist if you are applying to some of the top colleges as a prospective Business major. Before you look at any of our advice below, make sure that you verify the admissions requirements for the schools on your college list to see if there are any SAT II tests that you must take. For example, many universities require that prospective business students take the Math II test because they want to ensure that you’ve achieved proficiency in certain mathematical concepts that are necessary to the major. Lately, many colleges have been moving away from requiring SAT Subject Test scores to simply recommending them. While this means that you may not technically need to take SAT Subject Tests to apply to that university, you should take their recommendation to heart. If you think you can study adequately and do well on the tests they suggest, you should definitely do it; it could be a helpful addition to your application. Here are some examples of schools that require or recommend their applicants to submit SAT Subject Tests: If your college recommends SAT Subject Tests and you’re a prospective business major, the first exam you should sign up for is the Math II. Almost always, colleges will want to see that their business majors have mastered mathematical concepts up to pre-calculus. The Math II subject test fulfills that requirement. Math I is not recommended, especially if you’re applying to a more selective school, as the concepts tested on Math I are not as advanced. Strong math skills are necessary for business majors, particularly in their finance and accounting coursework. Thus, it is beneficial to study for this test and master these skills now as you will use them again and again in business school.   Our students see an average increase of 250 points on their SAT scores. Most colleges who want SAT Subject Tests usually ask for two scores. The Math II test is a necessary first exam, but what about the second exam? Is there a specific test that colleges think is necessary for prospective business majors? Well, there are two types of exams that you ought to consider taking if you’re thinking of pursuing a business major: As a general rule, we at do not recommend you take a language exam for your SAT Subject Tests, especially if the language you choose is your native language. However, there is one exception to this rule, and that’s if you’re planning on pursuing a degree in International Business or a trade. Otherwise, steer clear of those. Want to learn more about SAT II tests? See these previous blog posts: Want to find out what tests you need to take to boost your admissions profile? We’ll help diagnose your profile and build you a roadmap through our Mentorship Program . Through our Mentorship Program, you will be matched with a successful college student who is on a similar path when it comes to their academic, career, and college goals. This mentor will meet with you and your parents to provide helpful advice on all topics from college admissions to career goals, and they’ll make sure that you are poised to succeed throughout high school.  Ã‚  

The Nursing Theory of Dorothea Orem Research Paper

The Nursing Theory of Dorothea Orem - Research Paper Example When she observed nurses in various hospitals, she found that while they generally were able to perform their job functions, they could not articulate the true purpose of nursing. Orem’s intention was to determine an appropriate focus for the profession that centered on individual patients. This theory was significant in the sense that it provided nurses with a clearer focus on what the profession entailed: helping those who were unable to help themselves due to their health conditions. This paper will give a biographical account of Dorothea Orem’s life and provide a complete description of the Orem Model of Nursing including the Self-Care Deficit Theory. The paper will include examples of how the theory can be applied in various medical settings. It will also discuss the contributions, value and relevancy of her theory. The Nursing Theory of Dorothea Orem Dorothea Orem was a nursing theorist who developed the Orem Model of Nursing also known as the Self-Care Nursing Theory. Orem's nursing theory states that caring for oneself is a basic human need. The duty of nurses is to design interventions to provide or manage self-care actions for individuals to recover or maintain health (Taylor, p. 74). Orem was one of the first theorists to realize that nursing is needed when humans are unable to care for themselves. She felt that â€Å"nursing is distinguished from other forms of care by the way it focuses on human beings† (Fawcett, 2001, p. 35). ... in 1934 and went on to the Catholic University of America to earn a Bachelor of Science in Nursing Education in 1939 and a Master of Science in Nursing Education in 1945 (â€Å"Dorothea Orem,† n.d.). Orem’s first jobs were at Providence Hospital, Washington, D.C. and St. John's Hospital in Lowell, Massachusetts. Some of the positions she held included operating room nurse, private nursing, hospital staff nursing in pediatric and adult medical –surgical units and evening emergency room supervisor. In 1945 she began to focus her career on nursing education. She worked as the director of Providence Hospital School of Nursing in Detroit and continued this phase of her career at the Catholic University of America where she worked as an Assistant Professor, Associate Professor, and Dean of Nursing. In 1949 she left Detroit and moved to Indiana where she found a position as a consultant in the Division of Hospital and Institutional Services of the Indiana State Board of Health. During her tenure there she intended to raise the standard of nursing in hospitals throughout the state (â€Å"Biography of Dorothea Orem,† n.d.). Between 1949 and 1957 Orem was able to closely observe nurses and their work as a result of her position with the Indiana State Board of Health. As a result of her observations she began to realize that nursing required a certain way of thinking as well as a certain way of communicating (Fawcett, 2001). In attempting to develop nursing as a meaningful profession, Orem asked herself three questions: â€Å"(1) What do nurses do and what should nurses do as practitioners of nursing? (2) Why do nurses do what they do? and (3) What results from what nurses do as practitioners of nursing?† (Fawcett, 2001, p. 34) She

Biber's Rosary Sonatas Essay Example | Topics and Well Written Essays - 1500 words

Biber's Rosary Sonatas - Essay Example The fifteen sets of pieces are each in a different scordatura or a returning of the violin and the divisions between the sets are clearly marked booth by the scordatura indications and by the engravings that each set (Brewer 2011). Heinrich Biber was known in his time as a virtuoso on the violin and his writing that is meant for the instrument pushes the performer to greater levels of technical skills by employing the use of a number of stops that are designed to develop independent polyphonic lines as the main feature of his style. In addition, he had mastered scordatura which was the tuning of the instrument in such a manner that was not the regular tuning. His Mystery sonatas are good evidence of his use of scordatura in the entire musical repertoire. In the Sonata number eleven, scordatura is employed to make the chosen key that is G major more brilliant and to make the string crossings that are normally difficult to execute, easier to play (Roden, Wright and Simms, 2010). Biber was considered to be the finest practitioner that existed of the art of the scordatura and the only person that could be able to match his skills was J Walther (Sadie 1998). The Rosary Sonatas for solo violin and continuo that are created by Biber are the most famous violin music today next to Corelli’s that were created in the seventeenth century. The curious programmatic design, the amazing virtuoso techniques and the unique varieties of scordatura are basically the sources of the fame that is accorded to them.

Starting Your Own Business Essay Example | Topics and Well Written Essays - 1750 words

Starting Your Own Business - Essay Example The overall starting cost of the business will be USD 45000 and the estimated sales have been forecasted to be around USD 15000 yearly from the starting year. The opportunity can be availed to open a clothing retail store within the New York market due to the uprising flow of the youth desires for urban clothing and apparels along with the fewer existing competitors’ presence. The store will be highly focused on the urban high fashion merchandise and provide the youth with exclusive clothing they generally prefer to purchase from other cities. Proposal Section In the present global context of business scenario, retail merchandising is one of the most efficient and lucrative options for starting a new business initiative. The retail clothing store is considered as one of the highest earning or revenue generating business segments in the US market. The competitive scenario of the US market entails an immense growth opportunity for the apparel sector which is identified to be wor th in excess of USD 20000 million according to the present growth ratio in the retail clothing business. Hence, clothing retail business is an attractive option to establish business venture in the competitive US market. From the perspective of present day context, the earning of approximately USD 150 billion has been achieved in a year by 100,000 clothing stores across the country. Therefore, the proposed business will be to open a clothing retail store. The clothing store will entail the products for young population of the US, which will also be providing accessories and leather items for men, women and children in terms of exclusive clothing brands as compared to the other retail clothing stores. The business will be focused on high fashion urban casual wears to attract youth population of the city. The emerging growth of sales in the assortment of clothing of various brands for youth segment provides an efficient growth prospect in the clothing retail industry in the US. Theref ore, proposed business venture of opening a retail store which will provide apparels will focus on the local customer desires along with providing clothing and apparels for both adult and youth. The expected start-up cost of the clothing retail store has been reviewed to be around USD 45000 including cost of various apparatus and amenities (Boston Rags Clothing Store, n.d.). Rationale for the Proposal The business plan of starting a retail clothing store in one of the major cities of the US is due to the increasing growth on the retail clothing industry along with the increasing demands of the recent trends among the population in the country. The recently collected earnings by the clothing retail had been more than USD 45000 million for the month of March 2012 which has been mentioned by the United States Census Bureau. Therefore, the clothing retail store can be one of the prosperous segments which can provide an efficient opportunity to generate an intensive growth in a shorter p eriod of time (United States Census Bureau, 2012). At the outset, opening up of any business requires a substantial amount of demand for the products that are to be provided. A constant follow of demand can ensure sustainability for a new business venture in the long run. From the findings, it can be observed that the clothing retail sector is quite prospering and consumers’ demand is generally constant and quite high if a company is providing them with varied assortment at one place. Therefore, the idea of the

Art Timeline Essay Example | Topics and Well Written Essays - 1000 words

Art Timeline - Essay Example Created for World War I, the piece was reprinted in poster format the nature of the work part art, part advertising in which an objective was set for its use (Perman, 2008). . Fig 2 J. Howard Miller Rosie the Riveter, 1942 A powerful image for the war effort of World War II, Rosie the Riveter, also created for reprinting on multiple posters and created by Westinghouse artist J. Howard Miller, was a popular icon that supported the effort at home through the work of women as the men were soldiers across the ocean. Through this imagery, the inspiration of hard work with a purpose became a way in which to encourage women to step out of their homes and fill the positions that had been left open by their men. Although now considered somewhat controversial as feminist realize that the intent of the image was to free women temporarily, it still represents the collaborative efforts between the genders towards the war (Hall & Hall, 2006). Fig. 3 Richard Hamilton. Just what is it that makes tod ay’s home so different, so appealing?1956 Representing modern life through images that reflected Western ideals of the 1950s, this work by Richard Hamilton supports both the consumerist aesthetic and the innocence with which life was framed during that period. Through a collage piece that utilized painted aspects, the piece creates irony and amusement through a crazed, idealism that supports the consumerist aspects of the society. The piece measures 10 ? by 9 ?, so it is not very large, but it supports a great number of concepts in a very small frame. The work is iconic in that the images are representative of American life. Fig.4 Jasper Johns. Three Flags, 1958 Jasper Johns used the imagery of the flag to create a commentary on his own feelings of patriotism and the graphic nature of imagery that evokes a spirit in its interpretation. This piece is charcoal and graphite pencil on three boards, layered and overall measuring 11X16. In looking at the work, the image provides fo r propaganda that supplies a variety of emotional reactions to the pieces that he has created. The flag being a common theme in his work, he worked towards evoking a language of geometry in balance with the expressionistic values of the painting. Through both the commentary through painting theories and through the thematic explorations of the imagery of the flag, Johns evoked a sense of the American spirit within his work. Fig.5 Andy Warhol. Two Elvis, 1963. Andy Warhol memorialized some of the more important icons of his period. Created as a screenprint composition, the piece of work is 75.9X103.2 cm. This piece, titled Two Elvis, creates a powerful, yet poignant image of Elvis Presley, dressed from a movie in classic Americana Western attire. The power of the image is revealed through its graphic statement and its pathos in which the sweetness of his face is counterbalanced in the heroism that he is portraying. Tinged with the violence that is exampled by the gun that he holds, t he figure of Elvis ignites patriotism, nostalgia, and a sense of idolatry through the iconic image of the King of Rock and Roll. Fig. 6 Robert Rauschenberg. Axle, 1964 Robert Rauschenberg created art that combined objects, collage, and painting techniques to incorporate the idea of multi-media works with historically relevant imagery. This work, created using collage

Healthy People 2010 Essay Example | Topics and Well Written Essays - 750 words

Healthy People 2010 - Essay Example The APN whose training is now in advanced theoretical concepts with added elements of practice and the use of the nursing framework is imminently qualified to assure this process takes place (Kohr, 1998). The APN is now a leader in developing nursing practice through provision of leadership and maintenance of a commitment to developing nursing practice, using her authority and power to influence clinical and policy decisions and providing clinical development. The goal that is chosen affects much of the communities need. In strengthening community prevention it is meant through education, community based programs and interventions and the reduction in violence and abusive behavior, all of which the APN is innately trained to handle through her collaborative and communicative style and abilities (Stanhope and Lancaster, 2008). She is also well able to handle these issues based on her strong clinical nursing background on which she has built the knowledge that she presently has. The values that have grounded the practice of an APN are advocacy, holism, nursing experience, integration or theory into practice and added medical functions in a nursing framework. Each of these parts of her practice that have come from grounded nursing theory are the strengths that will help guide her through the changes in practices and processes that will need to occur in the community to meet the new goal. The APN has at her disposal the deliberate, purposeful, and integrated use of expanded nursing knowledge which she has expanded from her original clinical ability. She uses knowledge , research, and that expertise in clinical practice to know what has to be done to advance the concept while at the same time she uses her collaborative skills to work with the rest of the team toward change (Ingersoll, 2000). The use of evidence based practice to help in the change of the processes that are needed to protect the public health falls within the new expertise of the APN. A strong and thorough understanding of evidence based practice coupled with the ability to understand and conduct good research is important in developing interventions to improve prevention. The development of an intervention is strongly research based and the development and evaluation of that prevention requires the understanding of statistical and data based information. During the change process necessary to institute much of the work that must be done for each of these interventions, another strong talent of the APN will be used and that is her leadership ability. This nurse will lead teams with confidence and collaboration. She will organize and move forward on initiatives that have only been discussed before. Healthcare will change very rapidly in the next few years, even more rapidly than ever before. The power and ability of the RN has been far underused in the past considering her education and expertise in clinical care but now the APN has placed herself in a position that provides her with enough power to make change (Kohr, 1998) Strengthening community prevention affects all parts of the community. When good prevention initiatives are put into place the community as a whole is served. The APN is an advocate of the community. In this position, she is able to advocate for those that need it the most, assuring that their need is part of the community policy that is

Letter of Intent Essay Example | Topics and Well Written Essays - 500 words - 4

Letter of Intent - Essay Example sode has really defined my career in financial services for last 11 years in various functions including programming, analytics, portfolio management, risk management, and investment advisory where I have always strived to apply my profound academic knowledge. At BNY Mellon Asset Management, I work for Investment Strategy and Solutions group. My role traditionally has been portfolio management, portfolio construction, strategic and tactical asset allocation for multi-asset strategies. Very recently, I had an opportunity to work on an investment research topic on investing in emerging markets. I was the primary contributor to the research as well as the co-author of the subsequent publication on thematic investing in emerging markets. The topic pertains to creating better building blocks for investing. My proven ability for investment research rekindled in me, the desire to reconnect with academia. I therefore, took this unique opportunity provided for executive PhD at EDHEC-Risk Institute to research to solve the gravest problems the investment industry is currently facing in times of financial crisis. This is more important considering that pension plans are underfunded, employees that are more recent are left stranded without proper ret irement solutions, developed countries are debt laden and have aging demographics. Developing countries, on the other hand, have significant human capital, resources and surplus they are looking for answers to tug of war between liquidity and reserve needs and long-term welfare planning, while fulfilling their investment objectives. In my current role as an asset allocation strategist, I have been posed with several institutional investment challenges that have, usually, required a distinct client oriented solution. I recently attended Advances in Asset Allocation conference offered by EDHEC-Risk Institute. I really liked how Dr. Martellini summarized all aspects of latest developments in portfolio construction, strategic and

Hagia Sophia Research Paper Example | Topics and Well Written Essays - 2000 words

Hagia Sophia - Research Paper Example It was built by the first Christian emperor, Constantine, who was also the founder of the city Constantinople. This he built including other several great churches during his emperor. After the fall of Constantinople to the Ottomans, it was converted to become one of the principal mosques of Istanbul. Its influence became widespread and that which lasted lasting both in the architecturally and liturgically spheres. A bit of some history of the Hagia Sophia indicated that the building had first been constructed in a Christian capital and was then referred to as the church of the holy wisdom. It then represented the epicenter of the Christian churches and a series of their cults. It became first inaugurated in the February of 360 under the reign of Constantious II. After some time this first basilica was destroyed in Nika riots leading to a construction of the second Hagia Sophia. This was then built by the emperor Justinian with the help and experience of two architects, Anthemius and Isidore the Elder. They made the use of a lot of precious materials which were brought in from all corners of the Empire. This included some columns which were brought from the temple of Artemis at Ephesus. It was then crowned with a dome. The building was constructed in much haste and was completed in less than six years. Its walls were covered either with marble or in lavish mosaics that consisted of the most ex quisite color and workmanship. This new Hagia Sophia was inaugurated on December 27th, 537, five years after the work started. Over the years, it suffered a lot of damages leading to the partial collapse of some of its structural elements. The dome roof that was supported using a system of piers particularly provided the major challenge and collapsed after some decades. It was later reconstructed adding some supports and its shape in particular made the building look magnificent (Aydoğmus, Tahsin and Kleinbauer 22) In 1453, after the ending of the

Film Editing Essay Example for Free

Film Editing Essay The 1972 film The Godfather directed by Francis Ford Coppolla based on the novel by Mario Puzo that takes one inside the world of the Mafia as shown in the Corleone family where its patriarch, Don Vito is the â€Å"Godfather† but later, the focus of the film would later on shift to his son Michael who at first was not part of the Mafia family, but later on gradually joined it until he became the Godfather. The rise of Michael Corleone from being a â€Å"civilian† to Godfather is made possible by a well-coordinated cinematography which also involves editing. Editing is a film technique where reels of film are subjected to â€Å"cut and paste† in order to weave the scenes into a seamless sequences of events that unfold the moment it hits the silver screen. In this film, the producers make use the continuous editing technique. This approach is employed for the purpose of maintaining continuous or clear narrative action. It begins with the scene when Michael arrives at his sister Connies wedding reception which is presided by their father Don Vito. This scene shows that Michael is not part of the other â€Å"family† his father leads as depicted by him dressed in a military uniform which showed he came from the war. The next scene would be the attempted â€Å"hit† (murder) of Don Vito in the market and a separate scene where Michaels older brother Sonny was killed. This is followed by the scene where he was mauled by corrupt police officers and another where he is handed a gun by his fathers mafiosi which he would use in a later scene to kill McCluskey, one of the corrupt cops and his fathers rival Sollozzo. His brothers death and later his father, has thrust him into becoming the head of the â€Å"Family† which is underscored by scenes showing the â€Å"hits† on rival mafia leaders while serving as the godfather of his sisters son. This is capped with the final scene where he closed the door to his study as he is about to preside over a â€Å"family† meeting with his second wife Kay standing by the doorway. These shots were cut and pasted in a way that it follows a progressive sequence. The seamlessness of the scenes shows rhythm in the editing and the intervals were either minimal or eliminated thereby preserving the momentum on focusing on Michael. The film also makes use of eye-line matches where the audience sees things initially from Don Vitos perspective, at the beginning and switching to Michael, as it is shown in numerous scenes especially his confrontation with Sollozzo and switches to his wife as shown in the final scene when the door to Michaels office closes with her looking on which underscored that Michael chose his other â€Å"family† thereby sealing his fate. The baptism scene shows the application of the temporal relationships as it is interspersed with the deaths of rival mafiosi, indicating what was happening at the same time. In conclusion, the use of (continuous) editing helped make the story of The Godfather easy to understand and to appreciate totally as it shows a seamless stringing of scenes that show the rise of Michael Corleone to power. Reference Coppolla, F. F. (Director). (1972). The Godfather [Motion Picture].

Market and company analysis of padini

Market and company analysis of padini PADINI started to operate its company in Malaysias apparel industry, manufacturing, trading and supplying garments to order for retailers and distributors. The PADINI Concept Store is a concept store that selling all PADINI Holdings brands in one store or one stop shopping. The first outlet that starting to operate in Malaysia was located in Johor Bharu City Square, a shopping complex in Johor Bharu, Malaysia. After PADINI starting to operate in Malaysia, it becomes one of the major forces to apparel and garments industry in Malaysia. Besides, PADINI involved in the distribution and retail of its own fashion labels through 190 freestanding stores, franchise and consignment counters. The main products that sold by PADINI are formal,fashion wear and accessories. Besides, there are various brands that houses in PADINI and all of them are under PADINI . Every brand represents a fashion philosophy and each of the philosophy involve an extensive range of products aimed at targeted consumer. Their brand image is strongly attached importance to the real value: quality, functionality and price. There are eight unique brands under PADINI, which are PADINI ,PADINI Authentics, PDI, P CO, Seed, Miki, Vincci, and Vincci Accessories. All of the brands targeted consumer is due to both sexes and all ages. However Vincci, and Vincci Accessories are more focused on the flexible tastes of woman consumers on shoes, bags and accessories, and Seed Cafà © have open a new dimension in food operations for its company. Vision PADINI state that their vision is to be the market leader in the retail industry. They will achieve the goal through hard work, discipline and creative endeavour. In long terms, they will continue to maintain their high standard of design and manufacturing quality as well as affordability. Besides, they are also working towards expanding the business on a regional basis. At present, they have a growing presence in their neighbour countries, and we believe that there is great scope for growth. Mission The mission that set by PADINI is to create credible products that meet out target customer requirements but exceed their expectation. PADINI Core Value Caring From The Heart Caring from the heart means every staff of company must treat customers from the heart,staffs must care their customer by providing the best services. PADINIs 7 Culture Speed Simplicity Self- Confidence Communication Team Work Learning Culture Consistency Evolution of PADINI Year 1971-1990 Began operations as Hwayo Garments manufacturers Company, a proprietorship carrying out the manufacturing of ladies garments and wholesaling of the finished products to departmental stores. Expand into the trading textiles. Entered the retail industry with the companys pioneering brand PADINI. The brand VINCCI was created. Children wear was launched under MIKI brand. The SEED and ROPE labels were launched. 1991-2007 Establishment of a holding company, Home Stores Sdn. Bhd., to hold all the groups retail, wholesale and manufacturing business. The name Home Stores sdn. Bhd., was changed to PADINI Holdings Sdn. Bhd. Launched of PADINI AUTHENTICS. PADINI Holdings Sdn. Bhd. Became PADINI Holdings Berhad. PADINI HoldingsBerhad listed on the Second Board of the KLSE. PCO was launched in the second half of the year. PDI was created. The first Concept Stores was opened in Johor Bharu City Square. Seed Cafà © and PADINI Dot Com Sdn. Bhd was set up. Re-launcg of PADINI and Rope to new PADINI Workwear Listed on the Main Board of the KLSE The brand Vincci +. Vincci accessories and brands outlet was launched. STATES LOCATION Selangor AEON Bukit Tinggi Shopping Centre Sunway Pyramid Shopping Mall Ikano Power Centre 1 Utama Phase 2 Shopping Centre IOI Mall Shopping Centre Kompleks Membeli Belah, Aeon Cheras Selatan Johor Bukit Indah Shopping Centre City Square Shopping Centre Jusco Tebrau City Shopping Centre Kuala Lumpur Mid Valley Megamall Pavilion Kuala Lumpur Penang Gurney Plaza Queensbay Mall Melacca Dataran Pahlawan Melaka Megamall Pahang East Coast Mall Perak Kinta City Shopping Centre Sabah Warisan Square Sarawak The Spring Map of PADINII coverage The Location of Padini Concept Stores In Malaysia map_malaysia Segmentation As a listed company with such successful result, undeniably PADINI has done segmentizing in terms of demographic, geographic and psychographic. Demographic segmentation include of dividing the market into groups based on variables likes age, gender family size, income, occupation, education, religion, race and nationality. PADINI has segmentized demographic by focusing on the factor like age, gender, income and occupation as the important factor to do the continuous targeting. PADINI has set up 8 brands, which has covered age from baby up to old ages ,gender with male and also female, income which in the range of RM1000-RM2000,RM2001-RM5000 and RM5001above,and finally occupation like office-worker and others semi formal wear which suit majority occupation. This helps the organization to divide the market into several groups and target each of these groups to enhance the performance of the organization. Next, market segmentation strategy whereby the intended audience for a given product is divided according to geographic units, such as nations, states, regions, counties, cities, or neighborhoods.  PADINI has chosen to focus on states as their geographic segmentation, for instances, Penang, Johor and Kuala Lumpur. Lastly, PADINI has also used Psychographic by dividing the industry into different groups based on social class and lifestyle to do perfect segmentation. Targeting From our research, we can say that the targeting strategies used by PADINI is differentiated marketing where PADINI target several segment by offering different products to satisfy the different groups of customer. The targeted groups of customer are derived from the age range that above 7 to 50 and separated according to age and genders. The following table is showing the different targeted groups by offering different products. Group Age Gender Product Type of product Infants and kids Below 7 Both Miki kids Casual Childrens Above 7 and below 12 Both Seed and PADINI Authentic Fashion stlye Teenagers or youngsters 12 to 18 Both Seed and PADINI Authentic Casual Adult 18 to 30 female P Co Younger style(Trendy) Adult 18 to 40 Both Seed Casual plus classic stylish designed Teenagers or adult 13 to 50 Female Vincci and Vincci Accessories Female Accessories Adult 18 to 50 Both PDI Casual stylish designed Adult 18 to 60 Both PADINI Formal Differentiation Positioning PADINI used the differentiation strategies of product and image to place the product occupies in the consumers minds. The hottest product of PADINI Seed, use the product differentiation in term of design to place the product occupies in the consumers minds. For example, when a consumer want to buy a semi-formal with classic stylish designed, the Seeds product will come into their minds immediately. Besides, Miki kids is also one of the example of product differentiation where the design is specialty for kids. On the other hands, P Co used the image differentiation to place the product occupied in consumers minds. When a consumer want to buy a female clothes with younger style inside the PADINI, the brand of P Co will definitely come into their minds. In short, PADINI use the differentiation of image and product like unique design and brand image to position the products in the consumer minds. Product Consumer Goods  are final goods that are brought from retail stores to satisfy the needs and wants of customers. Products of PADINI falls under consumer product which categorized as shopping products.PADINI itself has other alternatives brands under it. There are PADINI, Seed ,Pdi , PADINI Authentic , PCo, Miki maternity , Vincci , Vincci accessories , Miki kids . The essential of PDI is to emphasis the casual stylish that can be accepted in any occasion. Its purpose to let any guy or girl to get a style fix among the fashion-current jeans, T-shirts, jackets, casual basic-T, belt, socks, scarf and even accessories in a shopper-friendly setting.PADINI is focus more on basic and family lifestyle and aim for anyone who likes and extols casual style. PADINI provides the essential working lifestyle for the modern working man and women. The PADINI collection carries a clean, timeless and modern to the working lifestyle. This brand is focuses on the formal wear and centralize customers base for workers. PADINI has launched out several of tie, belt, shirt and coat. Seed is the confidence of classic and casual plus a refreshing design. Seed emphasize the best of both designs for men, women and even hip kids! The purpose is stand-out style. Seed is focus on urban office-wear for the masses. The clothes under this line are usually jackets, coats, suits, classic office pants and knee-length skirts, semi-formal skirt and belt and also classic jean. In addition to seed cafe, the cafe portrays a bright and contemporary concept which jells with seeds youthful and trendy image. PADINI authentic is more on casually yours. PADINI authentic focus their styleon quality casual wear. Its targets the teenager segment of the market. It sells modern shirt, trendy jean, jackets, shirts and stylish dress. P co is focus on female market and launched all girls skirt, necklace and also hot pants. On the same track where they run ahead in fashions brave new ideas. Women are the largest customer base for P co because they know that women are the most potential customer and most people who are willing to spend money in the fashion. Miki Kids take the message of fun in fashion to every place and occasion. Clothes design with energetic ideas and cheerful colours to charge up every youngster. Miki kids are designed for 1-11 years old infants. This is because infants still have their potential and parents are increasingly willing to spend money on their childs dress. Miki Maternity is designed for fashionable mums-to-be. Miki Maternity has sold all the shirt and dress that suit for the pregnant women at the same time stand out-style. The look of Vincci fun and fashionable, the emphasis is affordable. From head turning hair accessories to trendsetting footwear, must-have handbags to eye catching glasses and fashion-clinching belts. In addition to Vincci accessories carries one of the most extensive lines of accessories from necklaces, bangles, rings and earrings to belts, sunglasses, watches, shoes, bags and more in all the latest styles. Price Pricing are one of the most important elements of the marketing mix, as it is the only mix, which generates a turnover for the organization. Pricing is difficult and must reflect  supply and demand  relationship. Pricing for a product too high or too low could mean a loss of sales for the organization.   Designed of Seed and PADINI are more classic. Both of these brands are premium pricing and especially for relatively high consumption of the customer base. High consumption of the customers base is those who purchase a bundle items in one time. Production of seed and PADINI are much more less than other brand this is because high consumption of the customer base would be lesser. In addition to this, PDI and PADINI authentic and Vincci are much more affordable. Both of these brands are low cost pricing and more focus on the middle class customer base. Product price of these three brands are low and affordable. This is because there are more middle class of customer base compare to high consumption of customer base. PDI ,PADINI authentic and Vincci are attracting many customers due to the low price strategy. Apart from this, the two brands under the MIKI flag are MIKI Kids and MIKI Maternity. Miki maternity pay attention on the fashionable mums-to-be. This brand only focuses on the pregnant women and mums-to-be customers base and Miki kids focus on the children customers base. Product price of this brand is quiet high and is considered as premium pricing. This is due to their customers base not wide enough. Promotion PADINI Holdings Berhad company has different promotion in every seasons . They have different seasons in every years . That is spring ,summer ,fall and holiday . Those products have expensive price will have whole year discount . On the other hand , those products have cheap price only will get discount during season period . PADINI AUTHENTICS promotion will get instant rebate RM30 with purchases of RM150 and RM70 with purchases of RM300 . PDI Promotion will get rebate RM15 with every purchase of RM100 . Followed by , VINCCI ACCESSORIES will get instant rebate RM10 with purchase of RM50 above RM20 with purchase of RM100 above . VINCCI Promotion will get instant rebate RM10 with purchases of RM50 above , RM20 with purchases of RM100 above . SEED Promotion will get rebate RM30 with every purchase of rm150 . PCO Promotion will rebate rm20 with every purchase of rm100 . PADINI Promotion will get rebate RM30 with every purchase of 2pcs . In addition , PADINI GROUP FAIR which known as Mega Carnival Sales will up to 70% discount . This sales will fall on March , August , December every year .Specific terms and condition will be applied on it . During sales period , customers cannot apply for member card . Member card only can apply when no sales proceed . When nearly reach end of sales , PADINI Company will have actual 10 % will add 10 % more discount on it . This is because PADINI company want clear the stock , and they want to push the sales. A companys total promotion mix is also called marketing communications mix . It consists advertising , sales promotion , public relations , personal selling , and direct-marketing tools that the company uses to persuasively communicate customer value and build customer relationships . One of the hardest marketing decisions facing a company is how much to spend on promotion . How does a company decide on its promotion budget ? There are four common methods used to set the total budget for advertising . There are the affordable method , the percentage of sales method , the competitive parity method and the objective and task method . Affordable method is to set the promotion budget at the level management thinks the company can afford . Followed by , percentage of sales method is set the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price . Competitive parity method is set the promotion budget to match competitors outlays . Placement Concept Store bring the all in one concepts . So that , customers will be convenient to shop at there . Varienty of modern style can be choose by customers . All they need are inside one shop . Most of the brands outlet will located at the shopping mall instead of hypermarket . Because of the design of shopping mall more attractive . So that can attract more customers . PADINI is one of the most well-known brands in Malaysias multibillion garment industry. A brand leader involved in the distribution and retail its own fashion labels through 180 freestanding stores and in-house outlets. This includes our multi-brand stores of PADINI Concept Store and Brands Outlet. PADINI have many branches in Malaysia . In Malaysia , it divided into two parts . That is west and east . Shopping mall will be choosen as the location where the PADINI Concept store at . This is because shopping mall has more people . For example , Queensbay Mall , Gurney Plaza .It will choose only mall which is more trendy for that city . PADINI has two types of shops. It has brands outlet and PADINI concepts store . The purpose of having PADINI concepts shops is because of the concept one-stop-shopping. With all brands within reach in just one store, the shopping option is set to create a fashion revolution. In addition, certain brands specialize in items such as Graphic Tees, Polo-Tees and Pants. With such a wide variety of styles and labels, Concept Store not only caters to everyone irrespective of age, gender or taste, it also allows shoppers to mix and match effortlessly within one location,maybe by matching with different brands merchandise to fulfill own required style.The brands are PADINI, Seed, Vincci, PDI, PADINI Authentics, P Co, Miki Kids Miki Maternity. Whereas , brands outlet is the latest exciting concept from PADINI group . Already a fashion force in Malaysia with brands such as PADINI, Seed,PDI, Vincci and PCo., the group decided to introduce a shopping experience with a difference based on key ide as of convenience, quality, variety and affordability. Concept Store can be found at Aeon Bukit Tinggi (Klang), Ampang Point (Kuala Lumpur), IOI Mall (Puchong), Ikano Power Centre (Mutiara Damansara; flagship store), Aeon Bukit Indah (Johor Bahru), Dataran Pahlawan Mall (Melaka), East Coast Mall (Kuantan) and Queensbay Mall (Penang). Recommendation After the overall marketing research regarding this company, we would make some recommendation about the product, market development, marketing technique, public promotion and sales rules and regulation. Talking about the product, PADINI has never come out with unisex merchandise, as my experience as promoter in this company, I always get this question from customer .Also, I would suggest PADINI may make some couple design since the company is already well-establised,these two product may probably open a new market to new young generation as their target,the company may choose the A outlet to do market testing by coming out limited quantity. Next,for market development, I would say PADINI can actually start planning to come out a 10Years-proposal which target to open concept-store and brands outlet in all the main city or central of city in Malaysia,for example kuching in Sarawak and Labuan in Sabah.Next the company may also issue share or debentures to public to increase their development in local ,if the company has built strong reputation and already very stable in local market,then they will be able to open oversea market after 10 years. While for marketing technique, we can see PADINI has not yet to explore in the online buying.I suggest PADINI can set up a blog which contain all brands product. Before that, perhaps the company must set up a IT department to do IT support for future transaction and create a IT system to company. They may co-operate with some banks to offer discount by using online banking service. On the other hands, PADINI can also cooperate with some local distributors in the Malaysia like Citi-link or Sky Net to send out the order. Every transaction made by the customer will be shown a payment statement and it was guaranteed by the bank. Besides, the distribution of the order will directly send to the stated address according to the information stated on the order form by the customer. Then, since PADINI is already well-known in fashion industry,I believe they are able to do a fashion show by hiring professional model,wearing their new products and having a fashion show .The company may invite some fashion professional ,helping to to advertising and promote their company. Besides, the company can organize a model show or competition by wearing their new products in specific mall like Gurney or Mid Valley, this will cost lesser.Furthermore, PADINI can sponsor to some well-known ladies magazine with conditions that include few pages which advertising about PADINI new products in every publicatioj of magazine,for example Vogue and Nirvana Women. Historical Net Profit of PADINI From Year 2004- 2010 untitled The histogram above showed that the net profit of PADINI from the year 2004- 2010. We can see that, the net profit of PADINI is dramatically increase from 2004- 2010 with the percentage of 1% to 12.2%. Besides, PADINI state that they forecast an average annual net profit growth of 10% in year 2011 and 2012 because of the demand for the PADINI products due to their strong branding and strategic store locations, as well as improved efficiency of warehousing, inventory management, design and product mix. Stock Split 7052 Besides, PADINI also carry out the stock split program to make its stock price cheaper than before in 5 times at 6 January 2011, being the market day after the books closing date. Share split involving the subdivision of each ordinary share of RM0.50 each held in PADINI Holdings Berhad into five ordinary shares of RM0.10 each. This action is to attract more investor to invest into their company. PADINI HOLDINGS BERHAD (History earnings, dividends and share price) CHART.bmp

Removal of Imperfections in the Market Impact

Removal of Imperfections in the Market Impact Assignment question The removal of imperfections in the market leads to an increase in efficiency in the allocation of resources. Discuss whether you agree with this view. (25 Marks) Explain what is meant by normal and abnormal profit and when such profits might occur (12 marks) Discuss the three reasons as to why people demand money, according to the liquidity preference theory. (13 marks) Table of Contents (Jump to) Assignment question List of figures QUESTION 1: The removal of imperfections in the market leads to an increase in efficiency in the allocation of resources. Discuss whether you agree with this view. QUESTION 2: Explain what is meant by normal and abnormal profit and when such profits might occur. QUESTION 3: Discuss the three reasons as to why people demand money, according to liquidity preference theory. References List of figures Figure 1: A perfect competition diagram. Figure 2: Normal profit in a perfect competition and in monopoly market. Figure 3: Abnormal profit in a perfect competition and a monopoly market. Figure 4: Combination of Transactionary , precautionary , speculative demand forming the liquidity preference graph QUESTION 1: The removal of imperfections in the market leads to an increase in efficiency in the allocation of resources. Discuss whether you agree with this view. Efficiency is about how effectively the resources such as time and materials are used to produce an end result. In economic terms, it is concerned with the relationship between scarce inputs and outputs. Different forms of efficiency need to be considered. Allocative efficiency is achieved upon good resource allocation; when no one can be made better off without making someone else worse off. It occurs when the value the consumer puts on a good or service is the same as the cost of the resources used in producing it. The main condition required for allocative efficiency in a given market is that the market price is equal to the marginal cost of supply.Total economic welfare is capitalized in this stance.[1] Productive efficiency strikes in the lead of the lowest production cost against a minimal wastage of resources. A minimal long run unit cost of production leads to productive efficiency also. Dynamic efficiency focuses on changes in the options undertaken in a market together with the quality/performance of products ought to be bought. Economists often link dynamic efficiency with the pace of innovation in a market. In figure 1, at the output Ot, where the Marginal cost (MC) = Marginal revenue (MR) for the firm, the allocative efficiency exists since the firm’s price (P) isthe marginal revenue (that is, it is able to sell any amount at the unchanged price where each extra unit sold at that price provides the marginal revenue), so MC = P. In fact, at that point more equalities subsist, for instance when MC = P= MR = AR. This means clearly to make use of the least resources possible. In turn, the minimum average cost = the bottom of the AC curve. Hence, this proves that both productive and allocative efficiency are potential occurrences in the long run only under perfect competition.[2] Inequity may still prevails in a country despite encompassing allocative efficiencyandproductive efficiency. This negates the odds perfection. Figure 1: A perfect competition diagram. In Figure 2, Imperfect competitions like monopolistic competition, monopoly and oligopoly, when producing profit maximising output, that is where MR=MC, the firm is not at its productive efficient output. That is, there is no productive efficiency since AC is not minimum. Neither is there allocative efficiency since MC is below price. Figure 2: An imperfect competition diagram The market economy and market system (price mechanism) will normally lead to efficiency in terms of lowest cost, minimum price, innovation and quality products (reliable). Efficiency should increase and markets shall boom their performance with the elimination of imperfections. However, removing all imperfections is virtually impossible due to the existence of market failures. The Market mechanism and the price mechanism do not apportion resources efficiently. Unfortunately for markets to achieve efficiency, a few conditions must be satisfied: the market must be competitive with no benefits or costs external to the market and the market buyers and sellers must be aware of all the information concerning prices and alternatives. This is however impractical to achieve and leads to market failure.[3] Market failure is a situation in the free Market system that foils the most efficient allocation of economic resources; For example when a market having being left on its own has failed to allocate resources efficiently in the case of freely-functioning markets operating without government intervention. Therefore, economic efficiency welfare cannot be maximized. This leads to a loss of economic efficiency. The government policy interventions are able to potentially remedy the problem and increase economic efficiency in case of market failure. This can also cause an inefficient allocation of resources. Market failure is a situationwhere the free market fails to pull off an optimum allocation ofresources which is possibly the outcome of market imperfections, externalities and public goods and merit goods.[4]  Market imperfection describes a situation in which the market behaviourdiffers from what it would be under perfect competition. A monopoly oran oligopoly may control the market and prevent other firms fromentering the market, restricting supply, the monopoly and oligopoly firm may be able to fix higher prices than they would be under a freemarket.In imperfect competition, there is likely to be market failure since firms who dominate their markets will attempt to charge high prices in order to make greater profit. An externality exists if a benefit is not included in the demand price or a cost is not included in the supply price. As such, market equilibrium does not achieve an efficient allocation. Positive externalities exist where a society acquires more than the producer. The latter thus produces less than the optimal social amount. Examples are health and education. Examples of negative externalities are smoking and alcohol consumption. Government interventions are vital to adjust or counteract market failure scenarios caused by negative externalities. The government opts to tax those producing in excess. Legal help also is sought in some instances. Despite that market failures can be fixed, Governments are also imperfect since their interventions are also occasionally unable to warranty a remedy or provide an efficient allocation of resources. [5] Even when the market appears to be working perfectly, we can have a problem with some goods. These are the public goods which are collectively consumed and the market may simply not supply them (e.g. street lighting) and the merit goods which areprovided by the market but in smaller amounts than are needed for the good of the state. Health and education are the most obvious ones. These may all be supplied in the â€Å"wrong† amounts, or even not supplied at all. When this occurs, it renders the market system inefficient and it is failing in this area. The free market system is able to allocate scarce economic resourcesefficiently if private costs are the same as social costs, and privatebenefits are the same as social benefits. But in the most cases, theyare not the same. It is then argued that the price mechanism fails totake into account social cost and social benefits, and therefore failsin its role to allocate resources to their optimum use. Market failureis the result of a sub optimal allocation of resources in a country. The market can fail also because of factor immobility (land, labour and capital) and the distribution of wealth and income. Increasing economies of scale may push all producers out of a market if none can charge enough to cover costs. In that case, production ceases even if it benefits society. Hence, markets fail under increasing economies of scale.[6] Hence, it can be said that the removal of imperfections do lead to an increase in efficiency in the allocation of resources. One can try to achieve this concept but can only approach close to perfection and cannot remove all the imperfections in a market system. A market where efficiency is achieved in terms of lowest cost, minimum price, innovation and quality products (reliable) is difficult to obtained and there will always exists some degree of imperfections. QUESTION 2: Explain what is meant by normal and abnormal profit and when such profits might occur. The difference between the Total Cost (TC) and Total Revenue (TR) amounts to the profit of a firm. The payment to factors of production makes up the TC. The sales of the finished good breed the TR. When TR exceeds TC, the firm makes a profit termed in economic theory supernormal or abnormal profit (ANP). When the TR is less than TC, the firm is subject to a loss termed as a sub-normal profit. When TR equals to TC, then the firm makes normal profit (NP).[7] The NP is the minimum level of profit to keep factors in their present employment. It is also equal to the opportunity cost of being in business; the profit that could have been reaped in the next alternative business. Figure 2 illustrates respectively firms in a perfect competition and a monopoly market situation earning only NP: Figure 3: Normal profit in a perfect competition and in monopoly market. The ANP is the profit in excess of NP. It is called producer’s surplus. Diagram 3 and 4 illustrates ANP in a perfect competition and a monopoly market: Figure 4: Abnormal profit in a perfect competition and a monopoly market. The principle characteristic factor between NP and ANP is that the former is the minimum requirement for factors to stay in their present employment. It also aims to competitive market situations: perfect competition and monopolistic competition. ANP points to non-competitive situations: monopoly and oligopoly. It is in fact the compensation for entrepreneur initiative and creativity. In the short-run, both types of profits transpire in any market structure – perfect competition; monopolistic competition, oligopoly or monopoly. However, in the long-run, ANP can arise only in monopoly and oligopoly due to barriers to entry. Firms in perfect competition and monopolistic competition can make only normal profits in the long run again due to the freedom to entry.[8] QUESTION 3: Discuss the three reasons as to why people demand money, according to liquidity preference theory. One can use the theory of Keynesian Liquidity Preference to answer the determinants of the demand for money. The demand for money signifies the demand for money to expend. It is money to be exploited for the immediate exchange of goods and services. The common man demands money to pay one’s daily purchases of goods and services. The daily cash transactions for a person are expected to depend on the size of one’s money income and on institutional arrangements such as the sum remunerated or the bills to be paid. Institutional arrangements have a propensity to remain unaltered. It is thus anticipated that the total demand for money for transaction purposes to depend directly on money national income.[9] Economists spot three motives to clutch money: the transaction motive, the precautionary motive and the asset (speculative) motive. The transaction demand (Tm ) for money is perfectly interest inelastic, that is, it is not responsive to interest rate changes. Whether the interest rate changes, the amount of money a person, household, firm or country holds for transactions will remain more or less unchanged, assuming income and other variables remain constant. Hence, the graph of the demand for money for transactional purpose against the quantity of money demanded is a vertical straight line.[10] The second reason is the precautionary motive. Money is here required to meet one’s unexpected expenditures. The money demanded for precautionary motive also tends to depend on the level of income, as in the case of the transactions demand. Similarly, the precautionary demand (Pm) is also interest inelastic and a vertical straight line graph. The third reason is called the speculative demand for money. Usually the amount of money in existence is more than the sum called for transactionary and precautionary purposes. The excess must be held by someone somewhere. ‘People hold â€Å"idle† cash balances?’- Keynes challenged that it is for tentative purposes. This means being constantly in possession of a stash of cash to create profit at any given opportunity. For instance, it may be lucrative to buy shares or government securities (bonds) if someone is geared up with cash at the given instant. The speculative demand for money is inversely related to interest rate and is elastic. [11] This demand for money will budge according to people’s speculation based on expectations. Secondly, it depends on business optimum. If speculators expect assets price to collapse, the demand of money will augment. Entrepreneurs will demand more money to invest in case of fruitful business. Together the three motives make up the total demand for money in a country, called the liquidity preference (LP). The diagram below illustrates the concept of each motive in a graphical way. Figure 5: Combination of Transactionary, precautionary and speculative demand forming the liquidity preference graph References Anderston, A., 2008. Economics. fifth ed. s.l.:Graficas Estella, Navarra Spain. Anderton, A., 2000. Economics. third ed. s.l.:Causeway Press Limited. Anon., 2013. Short Run And Long Run Profits Trends Economics Essay. [Online] Available at: http://www.ukessays.com/essays/economics/short-run-and-long-run-profits-trends-economics-essay.php?cref=1 [Accessed 26 March 2015]. Anon., 2013. Theories Of Demand For Money And Empirical Works Economics Essay. [Online] Available at: http://www.ukessays.com/essays/economics/theories-of-demand-for-money-and-empirical-works-economics-essay.php?cref=1 [Accessed 24 March 2015]. Anon., 2013. What Is Market Failure And Its Causes Economics Essay. [Online] Available at: http://www.ukessays.com/essays/economics/what-is-market-failure-and-its-causes-economics-essay.php?cref=1 [Accessed 24 March 2015]. Anon., n.d. Profit. [Online] Available at: http://www.economicsonline.co.uk/Business_economics/Profits.html [Accessed 18 March 2015]. Anon., n.d. MARKET FAILURES. [Online] Available at: http://www.AmosWEB.com [Accessed 19 March 2015]. Bà ¦kkeskov, E., 2013. Market failure. [Online] Available at: http://www.britannica.com/EBchecked/topic/1937869/market-failure [Accessed 07 March 2015]. Bamford, C. et al., 2006. AS Level and A level Economics. s.l.:University of Cambridge. Grant, S. Stanlake, G., 2006. Stanlakes Introductory Economics. SJ Grant ed. s.l.:Pearson Education Limited. Lipsey, R. G. Hardbury, c., 2006. First Principles of Economics. second ed. s.l.:Oxford University Press. Vernon, R. Louis T. Wells, J., 1991. The economic environment of international business. fifth ed. s.l.:Englewood Cliffs, NJ : Prentice Hall. Ward, D. B. a. D., n.d. Economics for business. s.l.:Mc Graw-Hill Higher Education. [1] Anderton, A., 2000. Economics. third ed. s.l.:Causeway Press Limited. [2] Lipsey, R. G. Hardbury, c., 2006. First Principles of Economics. second ed. s.l.:Oxford University Press. [3] Anon., n.d. MARKET FAILURES. [Online] Available at: http://www.AmosWEB.com [Accessed 19 March 2015]. [4] Anon., 2013. What Is Market Failure And Its Causes Economics Essay. [Online] Available at: http://www.ukessays.com/essays/economics/what-is-market-failure-and-its-causes-economics-essay.php?cref=1 [Accessed 24 March 2015]. [5] Anon., 2013. What Is Market Failure And Its Causes Economics Essay. [Online] Available at: http://www.ukessays.com/essays/economics/what-is-market-failure-and-its-causes-economics-essay.php?cref=1 [Accessed 24 March 2015]. [6] Bà ¦kkeskov, E., 2013. Market failure. [Online] Available at: http://www.britannica.com/EBchecked/topic/1937869/market-failure [Accessed 07 March 2015]. [7] Anon., n.d. Profit. [Online] Available at: http://www.economicsonline.co.uk/Business_economics/Profits.html [Accessed 18 March 2015]. [8] Anon., 2013. Short Run And Long Run Profits Trends Economics Essay. [Online] Available at: http://www.ukessays.com/essays/economics/short-run-and-long-run-profits-trends-economics-essay.php?cref=1 [Accessed 26 March 2015]. [9] Ward, D. B. a. D., n.d. Economics for business. s.l.:Mc Graw-Hill Higher Education. [10] Anderston, A., 2008. Economics. fifth ed. s.l.:Graficas Estella, Navarra Spain. [11] Anon., 2013. Theories Of Demand For Money And Empirical Works Economics Essay. [Online] Available at: http://www.ukessays.com/essays/economics/theories-of-demand-for-money-and-empirical-works-economics-essay.php?cref=1 [Accessed 24 March 2015].

Walt Disney the American Hero Essays -- essays research papers

Walt Disney the American Hero Walt Disney; When that name is spoken faces of children and adults alike light up with looks of sheer joy. When debating what to see at the movies the newest Disney flick is almost always decided upon over the others. With Disney people are 100 percent sure to walk out of the theater happy and smiling. From the catchy theme songs to the thrilling theme parks Disney has built the fantasy empire. Although he built the fantasy world Disney was not a man who walked around with his head in the clouds. He used his animation and film making skills to not only make fantastic movies but to also bring joy into times of war, fun into times of education, and excitement into times of vacation making him, Walt Disney, the epitome of an American hero. At the young age of sixteen Walt Disney was not the typical teenager. He was not obsessed with how he looked, or who did or didn't like him. His concerns were of the world and the fate of his country. In 1918, Walt signed up to defend his country in the military, but because of his young age he was turned away(www.tudlp.org Walt Disney Biography). Rejection was no discouragement to Walt, in fact, it was quite the opposite it was an encouragement to join the American Red Cross. With the Red Cross Walt was immediately shipped over seas to be a chauffeur and ambulance driver(www.tudlp.org Walt Disney Biography). Even in times of war Disney could bring smiles. Disney risked being captured, by covering his ambulance not with usual war time camouflage but with bright lively Disney cartoons(www.tudlp.org Walt Disney Biography). Again, unlike most other teenagers, who were more concerned with getting the job witch paid the most money and entailed the least amount of physical labor, Disn ey volunteered out of his own free will to risk his life for his country with his only reward being the moments of happiness he had brought to a country plagued with war. As part of his down to earth optimistic nature Disney had always put the advancement of education at the top of his priorities. He was a man who knew that education should be fun and wanted to do everything possible to make it that way. As Disney got older he realized that along with fame comes influence. He used his influence to build a school, a college of the cr... ...rf sized Oscars(Great Events from History. Disney releases Snow White and the Seven Dwarfs). Walt Disney created the American fantasy from thoughts pulled out of the far reaches of his imagination. He was a man who had never let go of his inner child. By simply reaching for that inner child he created every child's dream in the form of a simple talking mouse. That mouse became his trademark. Mickey was a trade mark to be used to his advantage though. With his fame and money gained from Mickey he could go on to do heroic things like build schools, work to aid his country during war, build family friendly theme parks, and make unforgettable movies. Walt Disney once said "The way to get started is to quit talking and start doing(ww2.netnitco.net Walt Disney's Great Quotes)." That is exactly what Disney has done and what all Americans should strive to do. Throughout his life Disney taught the world that "It's kind of fun to do the impossible(ww2.netnitco.net Walt Disney's Great Quotes)." If all of America strove to do the impossible everyday then every A merican would soon fit in beside Walt Disney under the category of an American hero.

Early America :: essays research papers

Everyone always talks about the early America, how it started the thinking of people today. Throughout this report you will understand more about early America. People always say America is a land of beginnings, well after Europeans discovered America, the New World became peoples hope for a new life. They tried to escape from poverty and just to start over. So we know that America started with hope but does the American writers? In order for something to begin there needs to have experiences. So the writers looked back on American history. They even had to go as far as before Christopher Columbus, and even before the year 1000. At that time the Native Americans lived here. They each had a tribe and their writings were very personal to how they lived their life and how they knew of America. They also had to think about all their fears and even the excitement in life itself. Some of the people lived and died horrible lives so the ones that survived it told others all about it. Some unforgettable and some hard to even believe, but that's how the people of the early America lived. The New World had lots of experiences for the new writers to tell. Some of the new writers included John Smith; he only spent two in a half years in America. Jonathan Edward's, he thought that a revolution would create a world of literature. He was the first major writer to be educated and lived his whole life in the New World. When he was eleven he wrote science essays on insects. Then when he was thirteen we went to Yale for religious experience. He wrote Sinners in the Hands of an angry God and still is one of the most famous literary monuments to the "great Awakenings" The first book published in America was the Bay Psalm Book; it was a translation of the biblical psalms. Many of the puritans kept journals to help they with their relationship with god. The journals and diaries were usually meant to be private. But somehow they got out to the public. Even when it did get out to the public the puritans said that none of it had ever happened. They did not write to entertai n the public they wrote for themselves, and for God. They wrote no fiction, and they didn't even want to read it.

Gender Inequality Essay -- Sexual Inequality

It is only recently that sociology has begun to explore the topic of gender. Before this, inequalities within society were based primarily on factors such as social class and status. This paper will discuss gender itself: what makes us who we are and how we are represented. It will also explore discrimination towards women throughout history, focusing mainly on women and the right to vote, inequalities between males and females in the work place and how gender is represented in the media. The term ‘gender’ was coined by John Money in 1955: â€Å"Gender is used to signify all those things that a person says or does to disclose himself/herself as having the status of a boy or man, girl or woman, respectively† (Coleman and Money, 1991, 13). In sociological terms, gender is a division between men and women which is clear in society throughout the past - for example, in Ancient Egypt with the idea that there was little point in teaching women to read and write. Gender inequalities can be seen throughout many different aspects of our daily lives – from the gender pay gap, to gender discrimination in television adverts. These inequalities are accepted readily in today’s society and most fail to see that direct gender discrimination is still very much a problem in society today. In 1988, Bretl and Cantor conducted a study into gender representation in television programs and advertisements. It was found that women were more likely to be filmed in a domestic situation and portrayed as being unemployed, working part-time or in low paying jobs such as catering and sales. It was also found that 90% of the time a narrator would be male, and women were more likely than men to be seen advertising household goods (Furnham, A. Mak, T. 1999, 414). It... ...eadmin/DU/Academics/course_material/hrge_04.pdf (Accessed 19/10/11) Wright, O (2011). ‘Princesses to be given equality of succession’, I newspaper. OECD (2002) ‘Women at work: who are they and how are they faring?’ http://www.oecd.org/dataoecd/28/58/18960381.pdf (Accessed 18/10/11) Arnst, C. (2007) ‘Women and the Pay Gap’ Bloomberg Businessweek http://www.businessweek.com/careers/workingparents/blog/archives/2007/04/working_women_a.html (Accessed 17/10/11) Carmen, D. (2007) ‘Why do men earn more? Just because’ Denver Post http://www.denverpost.com/news/ci_5735341 (Accessed 17/10/11) Barclay, A. Clarke, G. Drew, A. Morrison, I. (2007) Higher Modern Studies Course Notes. Leckie and Leckie. Allen, K. (2010) ‘Equal pay for women not likely till 2067, says research’ The Guardian http://www.guardian.co.uk/uk/2010/aug/19/equal-pay-women-2057 (Accessed 23/10/11)

Analysis of Commercial Bank Balance Sheet

CONTENTS INTRODUCTION DEFINITION_ OF COMMERCIAL BANK_ *â€Å"Banks and other deposit taking institutions are financial intermediaries whose assets consist overwhelmingly of loans to a wide variety of borrowers and whose liabilities consist overwhelmingly of deposits. † THE ECONOMICS OF MONEY BANKING AND FINANCE 3rd* Edition PETER HOWELLS & KEITH BAIN Pg 32 A sound system of banking is very important for any economy. Commercial banks are directly related to the payment system of the economy. Generally most commercial banks are controlled by the central bank of that particular country. The central bank can never allow the banking system to fail because if banks start to fail the payment system will fail. They may allow some banks to fail but the government will never allow big banks or the whole payment system to collapse. This is very evident from the recent where government have pumped in huge amount of money to save the so called â€Å"too big to fail† banks. Banks helps in the payment services through various kinds of deposits, debit cards and credit cards ANALYSIS OF COMMERCIAL BANK BALANCE SHEET For my assignment I have picked up Lloyds TSB as my bank. Lloyds TSB is one of the four biggest bank in the UK. I have taken 2007 annual report as the group has published only the 2008 interim report. The second item which we see in Lloyds TSB balance sheet is loan and advances to banks. It reflects the interbank relationship. This figure has fallen for most of the commercial bank and also for Lloyds TSB there is an decrease of 16. 50%. This is due to the financial crisis which has hit banking sector very badly and many banks have failed as a result. Llyods TSB gives loans to customer just like any other commercial bank and bank charge an interest for giving loans which is higher than the interest on deposit. But there is always a default risk attached with the loan which the bank gives. Commercial Banks gives different kinds of loans starting from mortgage, education loan, overdraft facility etc. In case of Lloyds TSB mortgage comes out to be 48. 4% of loans to customer. And thing we should bear in mind is that mortgage are long term loan and it can be for 30 years as well. Customer Accounts got an increase of 11% and there is an increase of 11% from 2006 to 2007. LIABILITIES OF LLOYDS TSB Lloyds TSB is also having some fixed deposit like Certificates of deposit. In these deposits customers cannot withdraw there money before a specified time and they also receive some interest as well. Second are the commercial papers which are unsecured promissory notes to meet short term obligations. Certificate of Deposit comes to around 14,995 million GBP and commercial paper is 17,388 million GBP for Lloyds TSB. Lloyds TSB is also having reserves after paying reserves. This reserve can be used in case of emergency or any unexpected risks The main risks that commercial banks face due to their exposure to different kinds of assets and liabilities are liquidity risks, market risk and credit risk. Lloyds TSB faces liquidity risk because of deposit in central bank. They have a deposit of 4330 million GBP. This means that they cannot give this amount as loans because it’s stuck with the central bank. This amount has increased considerably from 2006 to 2007. The bank faces liquidity risk because of their mismatch in assets and liabilities side. The group liquidity risk exposure is 33,185 million GBP. The main sources of liquidity risk for the bank are deposits from banks and customer accounts. As we seen above the assets of Lloyds TSB are long term whereas the liabilities are short term. The commercial bank is the main source of payment service in any economy. Whenever bank gives loan they are exposed to default risk. Default risk arises whenever a company or individual is unable to meets its obligation on interest or principle payment of the loan. The bank faces asymmetric information problem as well. Though the bank does proper due diligence before giving out any loans but asymmetric information problem cannot be ruled out with any banks at all. Due to asymmetric information we have adverse selection and moral hazard problem. Adverse selection problem comes to picture before entering into the transaction. In short the bank has to filter the good borrowers and the bad borrowers. Sometimes the bank may give loan to the bad borrowers and may suffer of this. Though banks have put checks like credit history before making out the loan but adverse selection problem cannot be neglected completely. The other problem which is created because of asymmetric information is moral hazard problem. The moral hazard problem starts after the bank has sanctioned the loan. Borrowers may get into undesirable activities. The main objective for which the loan was sanctioned may never get fulfilled. The other side of moral hazard problem is the conflict of interest between the borrower and the bank. Borrowers may try to act on their interest rather than the interest of the bank. Banks like Lloyds TSB can overcome the problems of adverse selection and moral hazards if they have proper check and control on their customers but rarely any bank achieves 100% success in these problems. These are two most important risks which any financial intermediary faces in order to serve their most important duty i. e. ayment services to the economy. Just like any other financial institution the group also faces credit risk. {text:bookmark-start} â€Å"Credit risk {text:bookmark-end} is risk due to uncertainty in a counterparty's (also called an {text:bookmark-start} obligor {text:bookmark-end} ‘s or {text:bookmark-start} credit's {text:bookmark-end} ) ability to meet its obligations. Because there are many types of counterparties—from individuals to sovereign governments—and many different types of obligations—from auto loans to derivatives transactions—credit risk takes many forms. † (www. riskglossary. om). After the group’s acquisition of Halifax of Scotland, the credit rating of the bank has come down. In order to counter credit risk credit rating plays a very important role. The group exposure to credit risk is 356,860 million GBP. PART 2 Asset Liability Management â€Å"The ALM group within a bank has been concerned with control of interest rate risk on the balance sheet. For some bank it may be equally important to manage interest rate risk arising from off balance sheet, but it is instructive to look at the traditional methods and progress to the relatively new procedures. (HEFFERNAN, SHELAGH A. 2005) Moreover banks have mismatch in maturity of their asset and liability. Banks use asset liability management to manage interest rate risk, mar ket risk and credit risk. Let’s take an example where all deposits are on fixed rate of interest but all loans are made on floating rate of interest. Commercial banks mainly use three types of markets to cover these risks. These are money market, capital market and derivative market. Capital Market is generally used by large companies or governments to raise funds for the long period. Capital market can be of two types like primary market, securities are traded for the first time and secondary market, and in this securities are traded after they are traded in the primary market. Another subdivision of capital market is bond market and stock market. There are various stock market around the world like London Stock Exchange, whereas bond market includes different kinds of bonds like government bonds (US Treasury bills), foreign bonds etc. One of the most important changes in this market is the development of asset backed securities. text:bookmark-start} â€Å"Securitization {text:bookmark-end} is a financial transaction in which assets are pooled and securities representing interests in the pool are issued†. (http://www. riskglossary. com/) When securitization is backed by any assets such as student loan, mortgages this becomes asset backed security. Lloyds TSB also securitizes its assets in order to overcome its liquidity problem. The process of securitizati on has become quite complex with the introduction of Collateralized Debt Obligation, Collateralized Loan Obligation etc. And these complex securities are the heart of the financial crisis. Lloyds TSB is not having much exposure to these complex securities. Banks get into off balance sheet activities to get more profit. It helps the bank to get fee income. One more advantage of off balance sheet activity is that it does not appear into the balance sheet of the bank. The derivative market is also used by the bank to hedge their risks. â€Å"By their nature, derivatives instruments can be used for hedging different types of risks. Owing to this, banks and insurance companies use derivatives in the management of their Asset Liability Management† (Cornelius Nandyal, 2001). The derivative market is going through lot of new changes. Regulators are trying to put lot of new regulations in order to bring transparency. Banks use interest rate swaps, credit default swaps, total return swap, credit linked notes etc. But different people have different views on derivatives. According to Warren Buffet derivatives are weapon of mass destruction and can act as time bombs in the future. Whereas Alan Greenspan says â€Å"Derivatives have permitted the unbundling of financial risks. Because risks can be unbundled, individual financial instruments now can be analyzed in terms of their common underlying risk factors, and risks can be managed on a portfolio basis†. Banks have also used money market for asset liability management. The most important organ of the money market is the interbank market. In interbank market banks with surplus lend to bank with deficit. This market is severely hit by the recent financial crisis. Banks don’t know about the financial soundness of the bank to which they are lending. This has increased the liquidity problem of the bank. Other types of market are the gilt repo, commercial paper market and the certificate of deposit market. As we have seen above Lloyds TSB invest in commercial paper and certificate of deposit. Securitization and the Global Financial Crisis DIAGRAMATIC EXPLANATION OF SECURITIZATION: {draw:frame} Source: http://www. usbancortrusteeservices. com/images/ygpa7_chart_offering_structure_ptnm. pg The recent crisis started because of the sub prime mortgage loans that originated in the USA. But these loans were repackaged and sold all round the world, so this crisis which began in USA became a worldwide crisis. Securitization gives banks lot more leverage. The seeds of the recent crisis were sown in when the Federal Reserve made interest rates around 1% and the economy was pumped with lot of cash. Banks started giving these loans as mortgage to the s ub prime customers, without any credit check and at very easy terms and condition. Once interest rate started to increase in 2004, borrowers started to default on their loans. With the increase of interest rates house prices started to come down. Credit rating agencies who gave these securities AAA rating made these securities junk. The assumption on which these rating agencies were working was that house prices will keep raisingin the future as well. â€Å"The combination of low capital requirements imposed on AAA-rated assets and a commonly held perception that they were â€Å"safe,† allowed banks to hold on to any senior tranches that were not sold to investors. But when the structured finance market collapsed in late 2007, the investment banks found themselves holding hundreds of billions of dollars of low-quality asset pools, many of which consisted of leveraged buy-outs loans, subprime mortgages, and bonds from CDO’s in process-that is, where the tranches had not yet been sold to other investors. † (Coval et al, 2008) No one knows the worth of these complex securities which the banks are holding. Banks have stopped lending to each other because no one is sure of how much the other bank is holding. So interbank market is almost closed.

Sony’s Environment Analysis

Executive Summary Sony Corp. acquired Ericsson’s shares in their 50-50 joint venture Sony Ericsson early this year and rebranded it into Sony Mobile, a wholly own subsidiary of Sony Corp. The aim of this audit is to analysis current situation of Sony Mobile and suggests how Sony Mobile could compete in such competitive market It started with analysis about the mobile phone market. It then gave an overview about Sony Mobile and STP analysis. This audit used Porter 5 Forces to analyse the current situation of Sony Mobile.PEST and SWOT analysis were used to determine the external macro and micro environment and Sony Mobile’s internal strength and weakness. It also analysed Sony Mobile’s main competitors in the industry and used the marketing mix to analyse its marketing strategy. Finally, the audit gave evaluation of the current situation and gave recommendations. Industry Background Market Size: The global mobile phone industry consists of all analog and digital ha ndsets used for mobile telephony (Marketline, 2009). Mobile phone industry is a very fast growing and competitive industry with many big players like Nokia, Samsung, LG, HTC, RIM, Apple, etc.According to International Telecommunication Union (2011), total number of mobile subscriber worldwide has reached 5,981 millions. The breakdown of subscription by regions extracted from ITU is as follow: Source: ITU Gartner, the world's leading information technology research and advisory company, in its report in 2012 reported that total number of mobile phone shipped in 2011 is 1,775 million units. Total sales of smartphone in 2011 have reached 491. 4 millions, around 27. 7% of total mobile phone sales. (IDC, 2011) Market Growth In 2012, mobile phone industry operating profits rose more than 44% annually (Strategy Analytics, 2012).This is a very impressive growth for any industry thanks to the creation and expansion of 3G and 4G net-works. That led to the demand for 3G and 4G mobile handset g lobally. Total number of mobile phones rose by 11. 1% (Gartner, 2012) and total number of smartphone rose by 61. 3%. (IDC, 2012) Market Trend In 2007, the first iPhone was introduced to the market and it changed the game. Apple created a new trend to the mobile phone industry, the trend of smartphone. Since then to now, Apple has sold more than 200 million iPhones, customers started to pick up smartphone instead of feature phone and producer started to follow the trend.Samsung came up with its Galaxy series, Nokia with its N series, etc. Currently, iPhone and Galaxy from Apple and Samsung are the two best-selling smartphone models worldwide. The two models are being priced quite high but multi-million of them have been sold. The two tech giant, Apple and Samsung continue to lead the market and enjoy the lion's share of global revenues and profits, thanks to the weak performance of other giant such as Nokia, Motorola and LG. Below chart showed the change in market share of top 5 smar tphone vendors. Market ShareNokia’s market share is declining year by year but still, it is holding the largest pie of the cake. Taiwanese mobile producer HTC, Korean giants Samsung and LG are becoming stronger and stronger, Research in Motion has always has its certain share in the market and Apple with its Swiss army knife iPhone, is becoming a biggest threat to all competitors in the industry. The market share of the industry is as follow: In such market, competing in this industry would be difficult enough, but to be a market leader will be even more challenging. Sony Mobile, successor ofSony Ericsson which has the financial support of Sony Corp. and the technology and market share of Ericsson, has always strived to be the top player in mobile industry. Company Background – Sony History Akio Morita & Masaru Iuka founded the Tokyo Tsushin Kogyo in 1946. It was then renamed into Sony Corp. in 1958 due to the belief that a company’s name should be as short and easy to remember as possible. Its headquarters is in Japan but its presence is all over the world and in almost any industry. Howard Stringer is currently appointed as Sony Corp. chairman and CEO.In 2001, Sony joint venture with Ericsson and introduce to the mobile phone industry a new player Sony Ericsson. The milestone marking the success of this joint venture is in 2003 when Sony Ericsson launched the camera phone. It was the combination between the famous Sony cyber shot digital camera and the Ericsson mobile phone technology. However, very soon after, in 2011, due to the significant decline in sales over several years, Ericsson wanted to withdraw from the joint venture. Taking the opportunity, instead of closing down Sony Ericsson, Sony bought Ericsson shares and it became a fully own subsidiary of Sony Corp.It is now dealing with over 2500 contractors worldwide. The current workforce of Sony is around 9400 employees under the leadership of Kunimasa Suzuki, the newly-appointed CEO of Sony Mobile Communications. Sales and Finance As indicated in its 2011 fourth quarter financial statements, Sony Mobile, formerly known as Sony Ericsson report a loss of 247 million euro. It is a decline of 374% from 2010. The lost was due to the rise in competitiveness of the market. It also reflect the unfavourable macroeconomic and the effects of the flood in Thailand in November 2011.The company have shifted from selling feature phones to smartphones. Its Android-based smartphone sales in the fourth quarter increased 65% year-on-year. Sony Mobile have the total units sale during the 2011 fourth quarter is 9 million, it is a decrease of 20% from last year. The decrease in sales is the result of the shift from feature phones to smart phones. The number of feature phones was significantly dropped due to the change in strategy but the increase in smartphone sale is too little to offset the loss in sales despite the fact that the sale in Xperia smartphones to date has reached 28 million.Sales for the quarter were approximately â‚ ¬1. 3 billion, 80% of which is from Xperia smartphones. This has emphasized the company's shift in strategy from selling feature phones to selling smartphones. The gross profit margin was 24%. It is a decrease compare to 30% the same quarter last year and 27% in the previous quarter. The decrease in gross profit margin show the difficulties of Sony in sales due to the increasing in market competitiveness with the rise of many innovative, creative and strong competitors such as Nokia, Samsung, Apple.The price competition is affecting Sony gross profit margin and it also one of the reason led to the loss of Sony Mobile during this quarter. Due to the difficulties and the shift in strategies and the restructuring program mentioned above, Sony Ericsson ended the quarter with a net loss of â‚ ¬207 million. Cash flow from operating activities during the quarter was negative Euro 26 million. External borrowings were Euro 19 milli on during the quarter. Total borrowings were Euro 742 million at the end of the quarter. Total cash balances at December 31, 2011 were Euro 442 million. Business objectives:Sony Mobile is aiming to challenge the market leaders in smartphone producers. They want to integrate Sony Corp. technology into their phones in order to compete with others smartphone vendor like Apple or Samsung. They want to gain market share any try to become number one market leader. â€Å"Sony will change† as quoted by the current President and the CEO of Sony Corp. , Sony is reinventing itself to deliver a new, unique and exciting experience for its customers around the world. Sony is now moving fully towards giving an all-in-one solution through its new array of smartphones powered by android operating system.SONY STP ALALYSIS (Segmentation Targeting and Positioning): In marketing most important things are the marketing segmentation and the marketing mix. Even if you come up with a best product and if you do not use the right marketing strategies the result can be devastating. Sony is one of the electronic companies in the world but it cannot be attributed just to the technology and the innovation. Sony's marketing segmentation consists of four different lines: 1) Mobile phones 2) Sony music 3) Sony pictures (Play Station) ) Electronics (TV, camera, walkman, computer, MP3 players) Source: http://www. consumerpsychologist. com/cb_Segmentation. html Segmentation: Sony takes an effort to understand its customers as much as possible. The marketing segmentation makes the process more efficient and effective. It divides the market into small pieces and targets people who belong to the same group and feel the same desire for a product. Sony mobile aims to target the mid-end to high-end market and they offer high quality product irrespective of the cost.Sony mobile works on the design of handset to make it more stylish. Segmentation can be done in four categories: * Demographic * Geo graphic * Psychographic * Behavioural Demographic: Marketers typically consider for a broader vision of socioeconomic characteristic as demographic variables. Demographic characteristic that marketers commonly use to segment markets include age, sex, race, education, occupation and social class. Sony mobiles have different variety of handsets. For example, Sony launched mobiles of different range i. e. Sony Xperia P, Sony Xperia S, Sony Xperia U.These new generation mobiles are targeted for young and middle aged people. As these smartphone mobiles have latest features like Reality Display powered by the Mobile BRAVIA ® Engine HD, Clear Audio and xLOUD Sony audio technologies, a next generation PlayStation for gaming, HD camera, and social networking. It is targeted for business people as it is said â€Å"Your office is where you are†, this shows that it has excellent business capabilities. Geographic: Market is divided into different regions as one or more geographic region s cause customers to differ from one region to other.Sony has different marketing strategies for different regions, as in some regions of India; more people are attracted for loud and clear music while some regions are more in social networking. For such regions Sony launched mobiles like Sony Xperia sola, Xperia P. Largest market segment is China with 1,023 million mobile subscribers. India is second with 919 million and USA top the three with 331 million subscribers. Psychographic: Psychographic factors are also been used to segment markets, as it is divided into lifestyle, motives, etc.Lifestyle analysis provides a broad view of buyers, as it is categorised like hobbies, sports, entertainment, social events, shopping and many more. For business driven customer, Sony came up with smartphone Xperia S as a tool for their business. Also for entertainment and social networking consumers, Sony’s smartphones include features to enable the same. Behavioural: Behavioural is classif ied in some categories like Brand Loyalty, Price Sensitivity, and benefit expectation. Some of the consumers look out for brand loyalty as, Sony designed the new Smartphone which target for such customers.As price is another factor, for which the consumers check, Sony came out with price of range S$650-S$750 for Xperia S, Xperia P which has latest features. Targeting: Sony mobile is currently trying to target mid-end to higher-end market by rolling out lower priced handsets. Sony mobiles use the newest and greatest technology to appeal to their customers. The people who are most interested in staying up to date with the newest technology are usually men of the ages 18-30. Sony mobiles are more targeting for entertainment with communication.They are targeting for young and middle aged group, who are more interested in new features and latest technology. Young aged group consumers i. e. 18-25, are more attracted towards Smartphone’s having features like entertainment, social ne tworking, and camera. For which Sony is targeting these age groups with Xperia’s new versions. Sony mobile communication is also targeting for business group consumers by using excellent business features. Positioning Sony Mobile is currently focusing only on the higher end of mobile phone, the smart phone segment. They position their product as high class mobile phones.With their continuous innovation in technology, they are trying to lower the cost and produce entry-level smart phone models (telecomlead, 2012) but the image of a higher class mobile phone is still their main focus. Sony Mobile has an advantage that they inherited the image and brand name of Sony Corp. When people think of Sony, they think of high class, innovative, high-tech and best quality product. Sony Mobile is trying to re-assure customer that image through their products. PORTER’s 5 PORTER’s 5 forces analysis helps to study the market’s structure which would identify the companyâ⠂¬â„¢s attractiveness and long-run profitability. . Threat of new entrants Considering the amount of capital required to setup a mobile phone manufacturing company, the threat of new entrants are relatively low. Though few companies crop up once in a while, it is not feasible to challenge big players such as Sony. 2. Bargaining power of suppliers Sony currently has got very limited number suppliers when it comes to their chips. Since android supports only specific number of chips, Sony needs to make sure that they maintain a good working relation with such companies. Qualcomm, NVidia and ARM are such company who provides required chipsets to Sony.But in terms of other parts for their mobile, they are flexible and for few parts such as camera, they have got their own manufacturing units. 3. Bargaining power of Buyers Like in majority of the companies, bargaining power of the buyers are the prime criteria to which the companies aim to cater. All the major companies are trying to endle ssly to the catch up with the customer’s demand through offering unique features. Each Customer perceive value in a different way, thus it is very important to keep up with the customer’s expectation. 4. Threat of Substitute Products/ServicesDue to high competition in the market currently, there are high numbers of choices a customer can make while selecting their mobile. Also there is no switching cost involved except for the cost of the mobile phone. Unless 5. Intensity of Rivalry among Competitors Competition is extremely fierce between the existing mobile phone manufacturers. Competitors such as Samsung, Nokia, HTC and LG are continuously coming out with new features in a regular interval. The competitors make sure their products stand out through actively promoting them even before the launch. PEST Analysis:This is a framework where the management/strategy consultants use to get an overview of the external Macro-environment in which the organization operates. PEST factors play an important role in the value creation opportunities of a strategy. These factors are usually being considered as either threats or opportunities. Political Factors: Political factors for Sony can be changed at any time. The Government holds the power to change any policies and regulations which may affect Sony at the time. Also the recession may become reduced, therefore resulting in better trades for Sony. Government decisions an affect the organization up to high extent. Even this would affect Sony’s competitors. The laws which can affect Sony Corporation would consist of new international policies. Internationally the Government may change or increase trading restrictions which would definitely change the way Sony works, because it needs to trade. Government also has the power to change minimum wage, tax, VAT etc. These are also the factors which lead Sony to rank low compared to other competitors. Sony Mobiles are present in many countries worldwide; the p olitical pressure in each of them would affect them one way or the other.Economical Factors: The economic growth has shrunk which means that the growth of the economy is negative. Economically, due to this many changes occur such as the interest and exchanges rates. Due to the recession being deducted in the near future exchange rates may also decrease, however steadily. Sony must be aware of any trading restrictions the Government has made. Since Sony is an international company the exchange rates is different to whichever country they trade with. If the exchange rates in different countries have changed, Sony works out what prices are their products being sold at and whether it would be worth it.Sony Mobile formulates new strategies with respect to segmentation and to check on with the new price of products being launched in different markets due to the changes in these exchange rates. Also low growth in the National income of most of the countries has been resulted in low demand of the firm’s products. Because of these increasing costs and problems Sony Mobile company had to reduce the size of its organisation as it was in the year 2010, the global economic climate has a negative effect on Sony mobiles and as a direct result of this it was necessary to rebuilt and reduce the size of the organisation around the world.Social Factors: Socially, Sony Corporation would be predicted to do well. The company has already gained a lot of reputation because of the quality products and services they provide. Technology has been improved by a mass majority. Sony may even have new competitors which may impact on them. Sony must ensure that they stay ahead of technology. They must be able to create revolutionary equipment for people because that what their company would rely on to stay alive. Companies such as Microsoft and Apple would also do the same. People have trends which Sony must learn so that they may create products which can relate towards them.For examp le, many young adults tend to listen to music; therefore Sony would create products which may allow people to listen to music anywhere at any time. People will have different tastes of style, trends, activities etc. Sony must also improve their work of ideas so that they can still please their customers and that they have adapted with the ageing of the company. Technological Factors: Having new technology Sony creates and innovates products for e. g. Sony’s 12MP camera in Xperia S and their Bravia engine based HD display. This is all possible due to the technological advances.With the latest technology it is possible for Sony mobiles to reduce costs, improve quality, and lead to innovation and new developments. These products benefit the company as well as its customers. Sony mobile works around the latest technology. In order to lead with their competitors they have to stay updated every time and regularly research and develop. It depends on technology so that it may provide efficient productivity of work internationally. Sony uses upgraded and new technology to increase its productivity level and to stay ahead of its competitors.Sony uses new technology to conduct its research and development which would help the business create new products using customer information and also by conducting market research. SWOT Favourable Sony’s presence around world is given the fact that it is one of those strongest established Japanese brand. It is present in almost all the countries around the world. Sony, established in 1946 one of those world renowned companies known for their innovation and quality of products till date. They have a very strong brand name and have a magnitude of products under their brand.They are the leaders when it comes to their display unit in the mobiles as well as the camera. Apple’s Iphone 4S and Samsung’s Galaxy SIII buy their camera unit from Sony. Unfavourable Unfortunately with the lack of innovation and not kee ping up with the competition, Sony is no more a leader or even in the top 5 of the mobile phone manufacturers in the world. With more people moving towards the smart phone segment, Sony has lost out to its competitors such as Samsung, Apple, HTC, etc. Sony’s adaptation to the latest mobile technology is also at its slowest.While its competitors are moving towards the next generation technology Sony is very slow with even announcing its next generation product roadmaps. Sony currently is lacking in innovation unlike till few years back. Despite having a previous generation technology their product pricing is a tad bit higher than its competitors. Opportunities Sony has got an opportunity to tap into the lower segment market with their high quality product offering. Currently all the mobile manufacturers are very focused in their higher end and higher mid value segment market.Sony who is already a marketing leader in portable gaming service can integrate such technology into th eir mobiles and offer a unique product which will set the apart from their competitors. While all of their products currently using Google’s Android OS, they should provide faster software updates to their products. These days the operating system used also one of the decisive factors while buying a mobile. Threat Currently Samsung, Nokia and HTC are aggressively releasing their new generation smartphones and promoting the same.While other manufacturers such as LG, Motorola and Research in motion are coming out with newer product of next generation smart phone in order to stay competitive. Sony’s market share is decreasing slowly and their advertisement campaign hardly has any reach to its target segment. Competitor Analysis For the completive analysis, we’ll look at the major mobile phone manufacturers in the market. We’ll look at their strength and weaknesses, strategy and objectives. Samsung Korean Giant Samsung is one of the leading mobile manufacture rs in the world.Currently Samsung is the world’s largest smart phone maker with the sales of 45 million smartphones in the first quarter of 2012. Samsung’s strong hold is with its mid segment to the high end segment products, comprising majorly of the smartphone sporting the Google’s Android OS. Samsung is aggressively competing with Apple in the top end segment of the smart phone. Samsung’s Galaxy S line is their flagship models and are one of the highest selling products in the smartphone industry. For the first quarter of 2012, Samsung holds a market share of 23. 5% and 29. 1% of global mobile phone market and global smart phone market respectively.Nokia Nokia is one of the direct competitors of Sony from the early days. Despite its declining market share, Nokia is still the largest mobile phone maker in the world. With its strong low segment models and the recent tie up with Microsoft for their Windows Mobile OS. Nokia is aggressively trying to get so me of shares in the smartphone market. They have already strategically placed their products in the mid segment and high end segment market, ranging from Lumia 610 to the Lumia 900. HTC HTC is next big competitor to Sony. HTC trademark comes from their very quick releases of the new generation products.HTC was the first to come out the initial batch of touch screen smartphones and also the first to come out with the mobile under Android platform. HTC’s current flagship product lines are their â€Å"One† Series and are aggressively promoting it all over the world. Their strategy is to release their product ahead of the competitors and gain a good amount of market share. HTC is project itself as a very good multimedia mobile and have acquired Beats Electronic. HTC also acquired majority of the stake in â€Å"VIA Technology†, one of the major chipset makers on July 6, 2011. MotorolaThe Patent powerhouse Motorola is also on decline with respect to its market share. Motorola lacks the consistency when it comes to their market share. The threat to Sony comes from the fact that Google has acquired â€Å"Motorola Mobility† and that in the near future it’ll revamped to compete with the bigger players including Apple. Currently Motorola is doing a fair amount of sales with its â€Å"Droid RAZR† product and has got couple of more release lined up for the next generation mobiles. Apple Competitor Analysis would not complete without analysing Apple. Apple’s dominance in the market with its IPhone is unbeaten.With their aggressive marketing and innovative design, they are in the lead along with Samsung. Apple currently sports a big fan following for their products and holds a very high market share in the smartphone and tablet segment. Despite having only very less number of products in their portfolio, Apple manages post a huge profit when compared to others. In the first quarter of 2012, Apple holds a market share of 24. 2% in the smart phone segment, an 88. 7% increase from the first quarter of 2011. This scenario is bound to continue for the upcoming years. Other Players:Research In Motion (RIM), LG, ZTE are other big competitors to Sony. ZTE and LG are holding a market share of 4. 8% and 3. 4% respectively in the global mobile phone market. Whereas, Research in Motion’s market share in the smart phone is down to 6. 7% and are planning on targeting the mass market instead of restricting themselves to the business class users. Thus from the above analysis, it is evident that Sony is facing with a high amount competition and is in a very tough spot. Marketing Mix Marketing Mix is a different kind of choices organizations makes in the process of introducing a product or service to the market.The 4Ps is one of the methods used to analyse the market mix. 5. 1 Product In the Fiscal year 2011, Sony began to shift the focus of its mobile phone business exclusively to smartphones. So currently Sony Mo bile Corporation has got a very low number of products under its wing. It has got only two product lines namely â€Å"BRAVIA† and â€Å"XPERIA† range of mobile phones. The â€Å"BRAVIA† branded line of phones are exclusive to their Japanese market and there are about five models under it. For rest of the world the â€Å"XPERIA† ranges of mobile phones are being sold.First introduced back in 2008, Sony after revamping their product line retained only this series which sports the Google’s Android OS. Sony currently has got about six models under the â€Å"XPERIA† series. Sony’s flagship model â€Å"Xperia S† comes with one of the best camera in the market with its 12 Mega Pixel Sensor. With their â€Å"Xperia† product line up, Sony is trying to offer an all-round functionality offering. It is also coming up with 7 new models which will target the various segment users. Sony also has got two Tablet models namely â€Å"Sony Tablet P† and â€Å"Sony Tablet S†. Currently all of Sony’s models are featuring android and are touchscreen.Sony also has got range of Accessories to support the functionality of their mobile phones such as headset, wrist strap and customized chargers. 5. 2 Price Pricing is one of the key areas to be successful in the market and is one of the frequently investigated marketing strategies as related with quality. The perception of Sony’s superior quality is still preserved with their current models and it comes at a higher cost of production. This makes their models costing higher than its competitor with the similar product. Currently Sony’s cheapest model comes at the cost of about SG$400 and their flagship model â€Å"XPERIA S† costing about SG$700. . 3 Place Sony currently retails its mobile phone through four primary channels – traditional multi-brand shops, retail chains, local stores and also through their exclusive branded stor es. Sony also sells their product online through their own web store and also through online e-commerce websites such as newegg (US), amazon (US), flipkart (India) and other country specific e-commerce portals. Sony also sells its product with tie up the national operators of the respective country. Sony mobile takes the inherent advantages of the Sony brand and strengthens the marketing field and publicity.Build an outstanding Sony branded shop in shop and point of sale and re-establish the brand image of Sony mobile market and marketing in a wide range. And realize the integration of other businesses with the Sony Group. It means selling the smart phones in Sony home appliances and other Sony line of business sales channels online shop. In order to achieve the effective integration – Sony mobile channels the resources to the Sony Group. 5. 4 Promotion Sony Mobile currently trying to establish its â€Å"Sony† brand name after the name change from â€Å"Sony Ericssonà ¢â‚¬ .Currently Sony is trying hard to be a follower and it is currently promoting its Xperia smartphone through various communications medium such as Television advertisement, press, Internet and social websites, and road shows. Sony is also actively sponsoring various public events and also through. They are also aggressively promoting their models through the network operators by providing the mobiles at a subsidized rate upon contract. Evaluation & Recommendation From the marketing audit, it is quite evident that Sony is currently facing lots of challenges, while trying to establish its revamped image with their smartphones.They have put in strategies to gain more market shares and introducing new smartphones to keep up with the recent market development. With its strong foundation, Sony can improve their positioning in the market with strategically placed steps. Sony need to focus on delivering products that would cater to wide segment of customers. They should make sure that they come out with latest technology products on par with its competitors. Sony should bring back their innovative culture they once had and focus on becoming the market leader.They should leverage on their strong foundation with the multitude technological products under them. Sony currently does not have any low cost solution; this is a very big shift from their previous strategy wherein they had products targeting all range of customers. It is recommended they try to focus on providing low cost solution and fill in the void. Currently all the major companies are focusing their resource to compete in the mid-range to high end mobile products, leaving enough opportunity in the lower end segment of the mobile market.With the right price to feature ratio in this segment, Sony can gain a very good market share that will enable to them to recapture their past position in the near future, especially in the developing countries like India where such low price solution will attract a huge number of customers. Though Sony has got an extensive distribution network, they can provide a direct to customer model through their website which can enable them to engage the customers directly without a need of the resellers; they are already doing such model through their direct stores.With more users opting to purchase their products through the e-commerce websites, such a solution will add some good value to the company. Sony should make sure their products are marketed properly such a way they highlight the target feature for the respective target group. Thus with right products and marketing strategy, Sony Mobile Corporation can make sure that they reach their objectivity of gaining more market share. LIST OF REFERENCE Fourth quarter mobile phone industry overview | asymco. 2012. Fourth quarter mobile phone industry overview | asymco. [ONLINE] Available at: http://www. asymco. om/2011/01/31/fourth-quarter-mobile-phone-industry-overview/. Global mobile statistics 2012 Part A: Mobile subscribers; handset market share; mobile operators | mobiThinking. 2012. Global mobile statistics 2012 Part A: Mobile subscribers; handset market share; mobile operators | mobiThinking. [ONLINE] Available at: http://mobithinking. com/mobile-marketing-tools/latest-mobile-stats/a#subscribers. Gartner Says Worldwide Smartphone Sales Soared in Fourth Quarter of 2011 With 47 Percent Growth. 2012. 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