Film Techniques against the Theme of “Change” Essay

How are we made aware of the filmmaker’s attitude towards change? Refer to three specific episodes from the film. (excl. concl. stages)In Pleasantville, the filmmaker, Gary Ross, conveys his attitude towards change through the characters of David and Jennifer who are transported into the 1950s sitcom â€Å"Pleasantville†. He doesn’t necessarily demonstrate change to bear a positive result; rather, he addresses that change is essential to the development of society and self and that it is important to understand and accept change. Ross contrasts the ignorance and mindlessness of the unchanged people of Pleasantville with the hunger for knowledge that the changed (or coloured) people possess, communicating to the viewer that change and knowledge go hand in hand. Ross also portrays and somewhat satirises an unchanged society’s people to be ruled by their own mindlessness, and in their epiphany, translates to the viewer that change can come from within or from outside one’s self but is different for everyone. Dark overtones are used to parallel the Pleasantville to a society under fascist rule. However, in the end, change will always affect everyone and this new understanding will help to overcome the changes encountered in the future that may seek to detriment the society. The three scenes which will be discussed in relation to the filmmaker’s attitude towards change are the breakfast scene, the classroom scene, and the rain scene. The breakfast scene is the scene where Betty is piling food on other food and topping it off with maple syrup for Mary-Sue’s breakfast. The audience is overwhelmed at the ridiculous amount of food that is being placed on her plate, which is shown by extreme close-up and cuts of the shots of every time another food item is slapped onto the plate, and is accompanied by an upbeat music. The audience knows that the person under the guise of Mary-Sue is Jennifer, stereotypical of an American teenage girl, so she is naturally concerned about her weight and watches the food she eats. The scene is ironic because such a big breakfast is the exact type of meal she would be trying to avoid. The scene is also hyperbolic as even in the 1950s, it would be considered  ridiculous to eat such a variety of foods for just one morning meal. The ‘jumpy’ non-diegetic music timed with the quick shots of food being placed on the plate, and the jump-cuts showing the reactions of a horrified Jennifer when seeing all this food, assist create situational humour. The reason that all these techniques have been used to create humour is to present a sitcom-style situation. In doing this, Gary Ross satirises the mindlessness of the unchanged people and this becomes important as the storyline progresses. The breakfast scene is also a place which symbolically informs the audience of the current circumstances of Pleasantville. Betty is piling food which would normally be considered tasteful by the audience once in a while and individually: pancakes, salami, bacon and eggs. This is what could be represented in the saying: â€Å"Too much of a good thing is never good.† The incongruous mix of foods is intentionally used by the filmmaker to make the audience feel uncomfortable. It is symbolically stating that there are too many good things in Pleasantville. There is also a sense that this is the situation everyday, meaning there is no change. This can be inferred from the ease and comfort with which Betty is placing the food on Mary-Sue’s plate. It is as if she has been doing this her whole life. The final food item is the syrup being slowly poured onto all the other foods, which is shown for a longer amount of time than the other foods and with the music becoming slower, almost as if poison. This symbolises the ‘sickly sweet’ mannerism which has consumed the people of Pleasantville. Ross is effectively trying to convey the bitterness of a sickly sweet society who has never seen anything other than the norm and has never experienced any change. This suggestion can be furthered in the discussion of the film’s â€Å"black-and-white technique†. The black-and-white technique is not just important in the distinguishing of changed people from unchanged people. It was conventionally used in Noir films to represent the dark overtones of the society. It is used as a motif in Pleasantville for the majority of the beginning of Jennifer and David’s adventure (until things start to change, that is). This is especially significant with all the subtle implications  and allusions to a Nazi-style dictatorship. For example, the burning of books is reminiscent of that in 1936 when the German government burnt all books which would oppose its rule, in fear that the society it governed would think of rebelling. Big Bob is the obvious ruler, as he is almost always seen with a low shot, making him look big and powerful to the audience. Bob’s situation is similar, burning books to stop changes occurring. Books are seen as works of art which are derived from the imagination of thinking people. Bob’s censorship practices extend to the prohibition of Mr Johnson from using colours to paint (that is, from using the full extent of his imagination) in his Code of Conduct. In this way, he is much like the German government in the 30s. However, he wants to continue his rule without any violent opposition; only ‘pleasantness’. There is irony however, as there is vandalism and disruption when the Milk Bar is broken into and sabotaged because of his encouragement, which is the exact opposite of ‘pleasant’. The fact that people submitted to this way of life (where everything is sickly sweet) without opposition before (before changes were introduced) shows that they were not ruled by Bob, but really by the restrictions they placed on themselves. Bob is only used to embody the fears and restrictions and ignorance that the Pleasantville society possesses. The filmmaker is trying to convey through these situations and allusions that those who resist change are irrational and are ruled by their own ignorance. The classroom scene when the students are learning about the geography of Pleasantville encapsulates the nature of the whole Pleasantville society. The students are used to learning the same thing everyday (since they already know the answers to the questions). The mise en scene of the students’ positions is incongruous. They are high school students but have their backs straight and behaving as if they are in kindergarten. They seem very comfortable, though, but when Jennifer confronts the teacher with the question â€Å"What’s outside of Pleasantville?† they are shocked. A panning shot from the point of view of Jennifer shows the reaction of the class, and the silence adds to the tension. After the teacher assures the students that there is nothing outside of Pleasantville, and that the roads begin where  they end, a sigh of relief ripples uniformly throughout the class. This reaction illustrates how fearful the students are of change and questioning the norm, since it is unknown and unfamiliar. The fact that the students have no appetite for knowledge is related to their inexperience of change. Thus, Ross is effectually demonstrating that change and knowledge go hand in hand. Later, in the Milk Bar, when everyone is questioning David about the fire, the same students show a thirst for knowledge. The way they keep pressing David to tell them about places outside Pleasantville is contrasted to the classroom scene. Again, the technique of silence is employed, but this time in a freer atmosphere with curiosity instead of fear and with non-diegetic music which depicts a ‘cheeky’ mood. It depicts the way David is about to break the rules by allowing people to know information that he thinks they shouldn’t because it will â€Å"throw their whole universe out of whack.† In this way, Ross illustrates to the audience that change is about development rather than the results produced (whether positive or negative). The classroom scene creates an interesting contrast to the classroom scene in ‘the real world’. At school, students are assured their futures are crystal clear: both predictable and wonderful. In the real world, David and Jennifer were being constantly reminded of the negative things in the future by the teachers: â€Å"Employment will go down thirty percent in the next five years†¦Greenhouse emissions†¦Ã¢â‚¬  This gave a very bleak outlook of the future, and the zooming and simultaneous cutting of shots of different classrooms added to the feeling of impending doom. In Pleasantville however, everyone’s futures are predictably wonderful. The characters, without having developed an understanding of change, are at a loss when they find themselves feeling emotions and thinking for themselves. For instance, when Mr Johnson’s artworks are exposed, people become enraged and frightened and consequently violence occurs. This symbolises how these unchanged and undeveloped people don’t know what to do when circumstances change. Ross is trying to show the audience that it is important to develop and understand change, because it will help in the handling of future problems. The rain scene is the scene where, after the emergence of the storm, it suddenly starts raining and very important events are taking place. One of these events involve the time when David and Margaret are kissing at Lover’s Lane. When rain suddenly starts pouring, David placates everyone’s fears by going out into the rain and holds his arms up to the sky, as if embracing the weather. The scene is a cinematic homage to the film Shawshank Redemption, depicting the part after Andy Dufresne has escaped from the prison and is now a free man. It is definitely a turning point in the film Pleasantville and is seen as a revelation. The allusion is symbolic because, just like Andy Dufresne, the kids at Lover’s Lane have escaped the grey walls that once held their thoughts and are now free to think and feel emotions. The next morning they all wake up coloured (except for David). Ross here is suggesting that change sets people free, and resistance to change is resistance to thought and passion. This assertion is further developed near the end of the movie in the courtroom scene. Gary Ross assumes the voice of David to speak to the audience. Here, the technique of monologue/speech is cleverly used: â€Å"It’s all inside you†¦And you can’t stop something that’s inside of you!† Ross is saying that these people restricted themselves from thinking and feeling emotions but they have always had the potential to be different, feel passionately and think independently. He directly states that change comes from within; Jennifer and David were merely triggering the changes to happen. Ross also implies that change is different for everyone. The aftermath of the storm shows David is still in monochrome. The shot of his reflection in the lake up to him contrasts to the coloured environment. The reflection is symbolic in that it shows David’s silent desperation while searching deep within himself to find a change. Jennifer experiences a similar problem. The dialogue between her and David is important. â€Å"I’ve had like ten times as much sex as these girls and I’m still [in black and white].† David’s reply is that maybe it is not about sex. The audience later finds that Jennifer finally changes colour when she starts reading books and puts on her glasses. The symbolism of the glasses is that her perception of the world changes and hence she changes. A panning shot around her room shows the new  colour, and finally a photograph of her alter ego, Mary-Sue, is in colour, meaning she has changed. David’s physical and individual transformation is completed when he finally starts standing up for what’s right and takes actions against what’s wrong. When he punched Whitey, he took action to fight for Betty, and the audience witnessed the first drop of blood in the whole film, showing David’s furious passion. Soft music depicting a ‘revelation’ accompanies this shot, demonstrating that he has found what he was seeking: change in himself. The over-the-shoulder shot of his back and the mirror is reminiscent of the lake scene and symbolic: not only has he found himself; but he has left his other self behind him. Ross here asserts that people change for different reasons and that change inevitably affects everyone so they can have a better understanding of themselves and the world around them. In conclusion, the filmmaker Gary Ross conveys his attitude towards change through David and Jennifer and the effect of their presence on the town. He stresses that change is essential to understanding the world, but most of all, understanding and accepting ourselves. Ross uses various allusions to show the control the citizens of Pleasantville were once under, and then to show that they have broken free, and that in the end, everyone is inevitably affected by change. He employs satire to compel the audience to have a negative view of those who are resistant to change, and to take a liking to the characters who embrace change. Ross asserts that everyone must change in order to live their lives to the fullest extent. â€Å"Pleasantville† (1998) directed by Gary Ross

Product Life Cycle Concept Essay

Michael Porter’s framework of competitive analysis is applicable to our business organization known as D.T.DOBIE TANZANIA LTD which falls under the automobile industry in Tanzania and worldwide in the following ways: A.Barriers to entry/threat of new entrants. It’s true that the average person can’t come along and start selling brand new cars. The emergence of foreign competitors with the capital, required technologies and management skills began to undermine the market share of brand new car sellers. The following factors are barriers to automobile seller’s new entrants: * Knowledge and Technology Ideas and knowledge of servicing its supplied products is the one that provides competitive advantage to D.T Dobie over others. D.T Dobie uses machines of highest technology on checking and servicing its cars in which, gives them power to provide guarantee of up to one year service to its product since they are assured of what they are doing. The machines used by the skilled labor of D.T Dobie to service and check the product are of high quality and they are very expensive in such a way that for new entrants firm in that business its an ownership barrier. * Access to distribution The demand for brand new cars in Tanzania is very low since they are sold at price that individual can’t afford. D.T Dobie is a greater supplier of brand new cars to Tanzania government institution, most United Nations (UN) organizations such as UNICEF, ILO, UNESCO, representative’s offices in Tanzania and embassies offices. Since these agencies are the most buyers of brand new cars, it has made D.T Dobie to have almost the access to distribution channel of selling brand new cars in which this act as barrier to new entrants since the buyers are few. * Cost of entry Initial capital required to set up a new firm is very high, it makes the chances of new entrants to be very less. * Product differentiation and cost advantage The product has to be different and attractive to be accepted by the customers. D.T Dobie is the greater seller of brand new NISSAN, MITSUBISHI, MERCEDES BENZ, HONDA and HYUNDAI in which made them different from its competitor since it sells many brands than others. By being supplier of government cars has made them to be exempted when importing cars for government institution uses. B. Bargaining power of suppliers: The bargaining power of suppliers is also described as the market of inputs. Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm, when there are few substitutes. Suppliers may refuse to work with the firm and also may charge excessively high prices for unique resources. For organization of our choice i.e. D.T Dobie its suppliers for motor vehicles are TOYOTA, NISSAN, MITSUBISHI and MERCEDES BENZ. D.T Dobie is the seller of brand new car in Tanzania where by its inputs i.e. imported new cars from great multinational companies are so important for its survival, this leads the suppliers having great power over D.T Dobie since it’s not manufacturer but the buyer of finished product. Increase in production cost to one of suppliers on specified product may lead to switching cost which will be relative to D.T Dobie switching cost. Degree of differentiation of inputs: D.T Dobie supplier’s supply different brands in which is difficult for them to switch from one supplier to another. For example if they are required by its customers i.e. government to supply cars that’s engine capacity is V8 that pushes them to deal with TOYOTA since other suppliers are not producing cars with that engine capacity. For parts suppliers, the life span of an automobile is very important. The longer a car stays operational, the greater the need for replacement parts. On the other hand, new parts are lasting longer, which is great for consumers, but is not such good news for parts makers. C. Bargaining power of customers: Buyers refer to the customers who finally consume the product or the firms who distribute the industry’s product to the final consumers. Bargaining power of buyers refer to the potential of buyers to bargain down the prices charged by the firms in the industry or to increase the firms cost in the industry by demanding better quality and service of product. Since our organization of our choice D.T Dobie supplies and sell brand new cars in Tanzania, its customers are few since who can afford to buy brand new cars are government institution, most united nations (UN) organizations such as UNICEF, ILO, UNESCO, representatives offices in Tanzania, embassies offices and individuals who can afford to do so. Since its customers only want quality and guaranteed products this act as driving force to D.T Dobie to supply not only quality products but also quality parts and servicing those cars for the whole year as guarantee after being sold out. Since D.T Dobie is greater supplier of brand new NISSAN, MITSUBISHI, MERCEDES BENZ etc. cars in Tanzania availability of substitute products such as FORD, RANGE ROVER, LAND ROVER which are supplied by its competitors like CMC motors and sold at same or at lower price than D.T Dobie’s have made some of its customers to shift to those brands as it’s known customers are very sensitive to price. Most of those mentioned above customers purchase in large quantities. They have full information about the product and the market. They emphasize upon quality products. They pose credible threat of backward integration. In this way, they are regarded as a threat. D. Threat of Substitute Products: Substitute products are goods or services from outside a given industry that perform similar or the same functions as a product that the industry produces. Rather than looking at the threat of someone buying a different car, there is also a need to also look at the likelihood of people taking the bus, train or airplane to their destination. When determining the availability of substitute’s time, money invested, personal preferences and convenience in the auto travel industry should be considered. D.T.Dobie should consider the following factors when analyzing this force: * Price Band The threat that consumer will switch to a substitute product if there has been an increase in price of the product or there has been a decrease in price of the substitute product. If the price of the cars sold by D.T.Dobie will increase the main expected customers i.e. the one switching from bike to car will not move to car and will remain in the bike only. Thus the price is kept checked in this manner. * Substitutes performance The performance of the substitute sector also plays an important role in the success of the business. If the price of other dealers such as Africariers increases or the price band of the small segment falls, it will have effect on the quantity required in the market. It’s just on the price but also the features and the other services associated or it may be the status symbol story. * Buyers willingness Products with improving price/performance tradeoffs relative to present industry products. It will determine the willingness of the buyer to buy from D.T.Dobie.The willingness of the customers to go forward to try the new product in the market such as Mercedes Benz reduces the threat from substitute products. E. Competitive Rivalry: This force analyses the level of competition between existing players in the industry. Because an industry’s firms are mutually dependent, actions taken by one company usually invite competitive responses. Thus in many industries firms actively compete against one another. Highly Competitive industries generally earn low returns because the cost of competition is high. The auto industry is considered to be an oligopoly (a market condition in which sellers are so few that actions of any one of them will materially affect price) which helps to minimize the price-based competition. Below are factors which are seen in this force: * Price Competition Advertising battles may increase total industry demand, but may be costly to smaller competitors. Products with similar function limit the prices firms can charge. Price competition often leaves the entire industry worse off.. * Product Quality Increasing consumer warranties or service is very common these days. To maintain low cost, companies consistently has to make manufacturing improvements to keep the business competitive. This requires additional capital expenditure which tends to eat up company’s earning. On the other hand if no one else can provide products/ services the way you do you have a monopoly. D.T.Dobie enjoys the monopoly of selling new cars are there are no competitors in this segment. * Unique Selling Point Also D.T. Dobie has advantage over its rivals because it represents a premium brand which is recognized over the world, they found a niche in the market where have a leading brand like Mercedes-Benzes a and a brand which people aspire to own .Also they are lucky to have Nissan one of the most renowned Japanese brands which is an equal pillar of their business. * Expansion DT Dobie is looking to grow and move forward, both in its native Tanzania and in surroundings regions. By building strong relationships and working closely with strategic partners, DT Dobie’s footprint keeps on growing. Also they are expanding by appointing more dealers around the country. * Investment In terms of investing in our own equipment, this takes priority; they put all eyes on technology so they are not behind the rest of the world. Even if the latest technical advancement s are available to the company, DT Dobie makes sure any investment is benefiting to the organization as a whole .Every five years D.T. Dobie has an equipment review which makes sure the company is on right track, ensures investments have been successful and assesses whether upgrades need to be made in order to reach the next level, they are absolutely up to date. Also ensures that its vehicle testing equipment has modern standards which outnumber it from its rivals. CONCLUSION: In general, any CEO or a strategic business manager is trying to steer his or her business in a direction where the business will develop an edge over rival firms. Michael Porter’s model of Five Forces can be used to better understand the industry context in which the firm operates. Porter’s Five Forces model is a strategy tool that is used to analyze attractiveness of an industry structure. Porter’s Five Forces model views the business from inside and outside. It focuses on assessing competitive position within the industry.

China’s Economic Development since the 1950s

The last 50 years have witnessed a remarkable economic and political change in China. For many, the rise of the modern Chinese state is equaled to economic and political miracle; in reality, not the miracle, but a whole set of realistic reforms laid the foundation for the rapid economic growth in China. Chinese model of economic growth was not perfect, and evidently, the country had to pay a definite price for its wonderful and almost unbelievable achievements. However, even at times of serious economic and political crises, China did not lose the sense of its national dignity and pride. To understand the essence and the implications of the Chinese economic development means to understand the way the country was able to embrace the benefits of the communist system and the best features of the market economy; and China’s â€Å"putting people first† is the best and the most appropriate social perspective that can be used to analyze the rapid Chinese transformation over the course of 50 years. China’s Economic Development since the 1950s Introduction The last 50 years have witnessed a remarkable economic and political change in China. For many, the rise of the modern Chinese state is equaled to economic and political miracle; in reality, not the miracle, but a whole set of realistic reforms laid the foundation for the rapid economic growth in China. Chinese model of economic growth was not perfect, and evidently, the country had to pay a definite price for its wonderful and almost unbelievable achievements. However, even at times of serious economic and political crises, China did not lose the sense of its national dignity and pride. To understand the essence and the implications of the Chinese development means to understand the way the country was able to embrace the benefits of the communist system and the best features of the market economy; and China’s â€Å"putting people first† is the best and the most appropriate social perspective that can be used to analyze the rapid Chinese transformation over the course of 50 years. Pre-industrial China: the beginning of the 1950s and the legacy of the past Profound analysis of the Chinese economic and social revolution is impossible without analyzing the state of Chinese economy at the edge of the 1940s. After the Sino-Japanese War, China found itself in the midst of the growing economic crisis. â€Å"Russian troops occupied Manchuria and selectively dismantled industrial installations, carrying them off to the Soviet Union. Only the more modern and up-to-date equipment was carried off; the oldest and the most obsolete machinery was left in place† (Eckstein, 1997). Thus, by the end of the 1940s, the country was facing the deepening industrial crisis, which was accompanied by the need to restructure its system of agriculture, and to provide the national population with reasonable instruments for survival. As a result of industrial devastation, by the beginning of the 1950s Chinese industrial output fell almost 70 percent; the consumer goods output did not exceed 30 percent compared to the previous industrial peak in the 1940s (Riskin, 1987). The production decline was combined with the growing government expenses, and the government’s striving to reduce inflation and further, hyper-inflation. As a result, the nation was seeking the means of economic and social modernization; the communist model of economy and distribution has become the source and the basis of the major economic initiatives in the 1950s’ China. Late Maoism, egalitarianism, and equal distribution: putting people first Despite traditionally negative attitudes toward communism as such, late Maoism actually served the basis for developing and implementing a whole set of egalitarian policies – the policies that promoted redistribution of income and did not welcome the benefits and privileges of the social ranks and statuses. Redistribution and egalitarianism were further combined with industrialization and slow restructuring of the national agriculture. The First Five Year Plan has paved the way to rapid growth of less industrialized Chinese provinces: â€Å"all employee wages in state sector were set nationally and did not vary with labor productivity. Thus although more industrialized provinces had a higher proportion of well paid industrial workers in their industrial labor force, these workers wages were similar to those in less industrialized provinces where labor productivity was lower† (Riskin, 1987). The Great Leap initiative was developed to utilize labor surplus and to promote technological production (Eckstein, 1997). Whether those â€Å"equality† approaches were beneficial for all is not clear; but at that point of economic development the state was making everything it could to provide its citizens with material incentives for economic and social transformation. Maoism was promoting the value of unity, cohesiveness and social mobility, but those seemingly positive elements simultaneously sped up and retarded Chinese social and economic development. On the one hand, Mao was able to build a â€Å"developmentally oriented regime† (Eckstein, 1997), where people were committed to achieving the strategic national goals; on the other hand, conservative beliefs and outdated agricultural system were serious barriers to Chinese economic innovation (Eckstein, 1997). Nevertheless, Maoism was an essential component of Chinese movement to economic and social highs. Maoism positioned a Chinese citizen as the source and the center of the major transformational initiatives. Since the beginning of the 1970s, China was able to utilize the best features of Maoist egalitarianism, including personal initiative, inventiveness, innovation, and the willing to implement changes at all levels of the national economic performance. The 1970s, the revolutionary growth, and the new China By the beginning of the 1970s, China has finally realized the weakening potential of communism as the instrument of social change. At that time, the need for a new scientific development concept became evident. At the 10th Session of the Chinese Congress â€Å"the five balanced aspects – balancing urban and rural development, balancing development among regions, balancing economic and social development and opening wider to the outside world – became the major topic of discussion among deputies† (Consulate General of the People’s Republic of China in Houston, 2008). The need to promote social welfare pushed Chinese authorities to the need for reconsidering the major Maoist policies and reviving them in a more reasonable and measured form. China could no longer solely rely on the outdated communist values. To become an international economic power, the country had to adopt a new set of social and economic visions that would fit into the contemporary international developmental frameworks. International speed of economic development led Chinese policymakers to reevaluating the balance between agriculture, raw materials production, investment, and consumer products output. â€Å"Putting people first† has become the international top priority, and China could not ignore the significance of those humanist trends. Chinese economic openness and the development of the new market initiatives signified Chinese preparedness to a marking shift in its attitudes towards its people and the rest of the world. â€Å"Putting people first† ideals have become the leading factors of the Chinese revolution at the end of the 20th century. Ultimately, â€Å"putting people first† marked the Chinese authorities’ willingness to innovate, stimulate, and learn from their own mistakes. Conclusion â€Å"Putting people first† was the distinctive feature of the Chinese economic revolution throughout the last five decades. China was able to embrace the benefits of Maoist communism and market openness in a way that benefited the nation, and primarily, its people. Regardless whether China was following the economic ideals of equal distribution and industrialization, or whether the country was adapting to the new market order, people were the central elements of the Chinese political ideals; and â€Å"putting people first† is the most appropriate and the most reasonable perspective that can be used to analyze and evaluate Chinese way to economic and social prosperity.

Propery Law Case Study Example | Topics and Well Written Essays - 2250 words

Propery Law - Case Study Example Mr. Jackson bought the property without even seeing it before payment was made. He relied entirely on Alex and Rogers Co. to advise him on his purchase from Damian Brown and the internet sales photographs and details of the property. Alex completed the transaction on his behalf over the summer. While Alex and Mr. Anderson were out in their office, Mr. Jackson went to their office and made a complaint over the property he bought. The secretary of Mr.Anderson wrote down the following complaints of Mr.Jackson. He is horrified to find several serious problems at the property of which he was totally unaware until now:- Jeremy Smith (son of new neighbour Mrs Smith) seems to have taken over 5 acres of the land belonging to Glebe House (and now to Mr Jackson) and is treating it as it as his own. He says he has done so for years and has no intention of stopping. Mrs Smith is complaining about the fact that Mr Jackson has applied for planning permission to change Glebe House into a conference centre and says that it is in breach of a covenant entered into several years ago between her father and Mr Brown whereby Glebe house and land were transferred on condition that there would be no business use on the property. A note was pushed through the letter box at Glebe House from a "Cheryl Armitage" claiming to be Damion Brown's fiance and wanting the return of her "investment" in Glebe House forthwith. She is contacting her solicitor. Valuable items have been taken from the property ( presumably by the seller) including: -Valuable artwork depicting the history of Glebe house -A set of garden statues -Kitchen display wall cabinets forming part of the fitted Kitchen 1) What are the rights of Mr. Anderson over the property 2) What are the liabilities, if any, of Alex and Mr. Anderson in this case 3) What are the effects of the covenant between Mrs. Smith's father and Mr. Damian Brown and the claim of Mr. Brown's fiance over the rights of Mr. Anderson over the property Answer: For us to give an answer to the issues of the question, let us first take an overview of the property law in the United Kingdom where the facts of the question arose. The right to property One of the fundamental rights afforded for the citizens of the United Kingdom is the property right which can be defined as the right to own, possess, use, enjoy, and dispose property. The term property includes but is not limited to movable properties such as cars and clothing, and immovable properties such as lands, land and buildings or land and house. Though fundamental by nature, the right to property is only a statutory right, which means that the exercise of this right is subject to existing laws of the State where this right is provided. The exercise of this right was mostly based from common law jurisdictions that were prevalent during the ancient times at the United Kingdom. Though statutory laws are now in effect, common law are still useful most especially in property issues where no statutory bases are readily available just like purchase of property through the internet. Relevant to this right is the purchase of real property. Purchase or "buying", is a traditional way of owing a real property such as land or house. When a person purchases or buys a property, he is given the absolute right or title

Evaluating Client Profile 2 Using a Cognitive or RET Approach Assignment

Evaluating Client Profile 2 Using a Cognitive or RET Approach - Assignment Example There are several cultural issues that need to be attended with this client. The case description says Aaron is Syrian-American. I would need to learn more about his cultural background, cultural values, and expectations. I would need to know when he or his family came to this country and what his and his family’s level of acculturation is. I would need to learn more about his religiosity, and his religious values and practices to make sure I respect them and incorporate them while developing treatment goals and plan. For example, he might not be comfortable with female therapist or sessions might interfere with some religious practices. Finally, his age should be considered too. He is a minor, but very close to the age of majority. Thus the controversy of dependence versus independence may arise with him. I could address this controversy by considering some ethical and legal issues described below. I would consider several ethical and legal issues with this client. First of a ll, he is a minor (17 years old). I would need to get informed parental consent to start the therapy with Aaron. In addition to parental consent, I would need to get his assent to engage in therapy.

Discussion Questions Essay Example | Topics and Well Written Essays - 500 words

Discussion Questions - Essay Example In this way, firms of different sizes could be compared on an equal footing. For example, COGS of firm A may be greater than that of firm B. But its sales may be higher too. Q6. The dates on financial statements are important because they indicate the period in which profits or losses accrue and cash flows occur, as well as the financial status of the company as at a date. Q7. The income statement presents the incomes or revenues and expenses or costs of the firm incurred during a period, regardless of paid or not, to arrive at the profit or loss. On the other hand, the cash flow statement of the firm presents the revenues or costs received or paid during a period, regardless of incurred or not, to arrive at the cash outflow or cash inflow. The balance sheet captures the financial snapshot of the firm as at a particular point in time. The profit or loss on the income statement enters the retained earnings account, which is under shareholder's equity in the balance sheet. The cash inflow or cash outflow from the cash flow statement is added to or subtracted from the beginning cash balance to arrive at the ending cash balance, which is under current assets in the balance sheet. Q5.

Matrices and function Coursework Example | Topics and Well Written Essays - 1000 words

Matrices and function - Coursework Example 0.0072 = 0.9928 are alive at the end of the year. Some of this number will have reached the age of 15 during the 1 year and become adults. We shall assume that15 of the surviving juveniles become adults. So the proportion of juveniles still alive and still juveniles at 14 the end of the year is . (b) The network model above can be written as a matrix equation of the form where M is a 2 x 2 matrix. Write down the matrix M (c) (i) Edit the matrix M, and the vector whose entries are the initial subpopulation sizes J0 and A0, in a copy of a worksheet so that the worksheet shows the predicted changes in population size for the country considered in this question. Set N = 50, so that the worksheet covers 50 years. Here we have: For n=0, For n= 2, As the value is influenced by the previous value the table has the accurate calculation: Table below shows the juvenile population, Adult population and total population, while the first column shows the increase in the years startind from 2007 an d ending at 2057. n Jn An Tn 0 8.3 30.1 38.4 1 8.82254 30.09562 38.91816 2 9.306561 30.12591 39.43247 3 9.756194 30.18769 39.94388 4 10.17515 30.2781 40.45324 5 10.56675 30.39457 40.96132 6 10.93398 30.53483 41.46882 7 11.27954 30.69682 41.97636 8 11.60582 30.87871 42.48453 9 11.91499 31.07884 42.99384 10 12.209 31.29576 43.50476 11 12.48958 31.52816 44.01774 12 12.7583 31.77485 44.53315 13 13.01658 32.03479 45.05137 14 13.26567 32.30705 45.57272 15 13.50671 32.59079 46.0975 16 13.74073 32.88526 46.626 17 13.96865 33.18981 47.15846 18 14.19129 33.50384 47.69513 19 14.40939 33.82683 48.23623 20 14.62363 34.15832 48.78195 21 14.83461 34.49789 49.3325 22 15.04287 34.84518 49.88805 23 15.2489 35.19987 50.44877 24 15.45315 35.56167 51.01482 25 15.65601 35.93033 51.58634 26 15.85784 36.30564 52.16348 27 16.05896 36.68741 52.74637 28 16.25968 37.07546 53.33514 29 16.46026 37.46966 53.92992 30 16.66093 37.86989 54.53083 31 16.86193 38.27604 55.13797 32 17.06344 38.68802 55.75146 33 17.26566 39.10576 56.37142 34 17.46873 39.5292 56.99793 35 17.67283 39.95829 57.63112 36 17.87807 40.393 58.27108 37 18.0846 40.8333 58.9179 38 18.29252 41.27917 59.57169 39 18.50195 41.7306 60.23254 40 18.71297 42.18758 60.90056 41 18.9257 42.65013 61.57582 42 19.14019 43.11825 62.25844 43 19.35655 43.59195 62.9485 44 19.57484 44.07126 63.6461 45 19.79512 44.55621 64.35133 46 20.01747 45.04681 65.06428 47 20.24195 45.54311 65.78506 48 20.46861 46.04513 66.51374 49 20.69751 46.55292 67.25044 50 20.92871 47.06652 67.99523 51 21.16224 47.58598 68.74822 (ii) What behaviour does the model predict for the total population size over 50 years? Find the sizes of the total population predicted by the model for the years 2032 and 2057, giving your answers to the nearest thousand. The population of the juveniles and the adults in total is increasing by the ration of 1.013 and the population is increasing in the geometric manner. The size of the population in the year 2032 will be at 51.58634 million w hich is approximately 1.343 times the total population in the year 2007. In the 2057, the total population of juveniles and adults will be 67. 99523 million, which is 1.77 times the population in the year 2007. (iii) What does the model predict for the ratio of successive total populations over the 50 years? Your answer should include both a description of behaviour and numerical information. Years Tn Ratio Tn/Tn-1 2007

References Annotated Bibliography Example | Topics and Well Written Essays - 500 words

References - Annotated Bibliography Example The site also delves into the importance and essence of an active sex life on one’s health while also offering plenty of advice healthy feeding habits (during an exercise regime and to check the risks of nutrition related ailments) for various age groups. The site gives a brief insight into what tuberculosis is, what causes tuberculosis and other risk factors, its symptoms and complications. Advice for patients on numerous topics concerning tuberculosis is offered here including preparation for medical appointments and tests and diagnostic procedures expected while in the hospital. Effective treatment regimes and drugs for tuberculosis are also discussed there-in alongside prevention of spread of the disease or contracting of the same through vaccinations (using BCG) and other measures. A coping and support section is also available with numerous recovery stories and other experiences. Other issues such as drug resistance from poor dosage, transmission, drug susceptibility testing, genotyping, identification, model performance evaluation program (MPEP), epidemiological studies and so on are additionally discussed. The site is also available in Spanish. HIV/ AIDS is discussed and its cause stated. Means of transmission of the virus and the symptoms associated with infection are equally discussed. Places where individuals can get tests and know their statuses are given. The site talks about treatment and management of HIV if one tests positive and what one ought to do if they test either positive or negative in order to continue living meaningful, enjoyable and productive lifestyles. Management of HIV cases during pregnancy and co-infection with tuberculosis are also looked into closely and such patients advised on how to seek help or go about the issue. Finally, prevention measures are discussed and in addition, ways and benefits of preventing spread of infection to others for the infected are laid out. Among other things, the site offers valuable

Prepare a report of your findings for the two owners Essay - 1

Prepare a report of your findings for the two owners - Essay Example Analytically, for a given time, Nora has been protracted as a â€Å"Doll† in the house of Torvald Helmer. She has been Torvald’s petowing to the fact she was limited in making decision on her own. The analysis of the play will try to bring out the fact that if it were not for the extortion plot, Nora would have remained submissive to Torvald. Nora and Krogstad share common problems: they are all wronged by the society, and they have been involved in a forgery problem. This common problem between themtends to be the starting point of a conflict, which is strongly catalyzed by Krogstad. The forgery of signatures is central, and competition at work place is the glue that binds Nora and Krogstad together while threatening their marriage. Torvalds clearly knows that Krogstad had forged the signature, as he states in conversation between him and his wife. â€Å"He forged someone’s name. Have you any idea what that means?† (Doll’s House, Act 2). In the turn of events, Krogstad starts to blackmail Nora following a loan that she obtains from Krogstad using a forged signature of her dead dad. These secret transactions are part of the main cause that Nora has to remain loyal to Krogstand hence being treated as a pet. Krogstad even takes advantage of this situation to secure and keep his position at workplace. By keeping his job, Krogstad will be able to attend to the need of his family. The involvement of the two in this forgery places Nora Helmer at a crossroad. At this point, we can see her contemplating suicide because of the heightened problems in her life that was born out of the secrets and the subsequent mistreatment. It reaches a point whereby, Krogstad uses this secret to threaten Torvalds of the ills that he has done in the bank. The attempt of suicide is noted and prevented by Krogstad who also had once been in the same scenario: Krogstad says the following to her

Technology and Training Systems Essay Example | Topics and Well Written Essays - 1000 words - 1

Technology and Training Systems - Essay Example A number of the participants stated that the interviewing phase acted as a means of exploring the training system, debate the findings, and change the evaluation into an academic expedition. With no proper questioning, employees who may record poor productivity in the training system may get the wrong impression about the organization or its training system. In my assessment, I also learned that subjects should draw on the entire experience of the training session and not simply the outcome. This drawing should include shifting the focus of the debate from matters employees enjoy conversing about to topics that are more important (LÃ ©ger, Feldstein, Babin, Charland, Robert, & Lyle, 2011). For instance, participants of my assessment ought to have talked about group behaviors that either aided or limited them during training. Other questions that employees in similar career development systems could ask are the significance of clarity, the full exploitation of all group members’ contribution, requirements for complete usage of the knowledge of fellow employees, and the effects of such combined effort. During the questioning in my assessment, I emphasized the fact that a group that did not produce desired results in the training system but can explain the root of this poor delivery is at an advantage compared to a group that produ ced desired results but cannot explain why they performed well. My assessment also established that a more official and ready teaching presentation can be helpful for questioning. This is a good chance for analyzing some of the key concepts behind incorporation and technology-supporting training systems and offering explanations and features of these systems. With the simulation training experience, employees can most probably relate to these accounts better because they have applied the technology in a virtual environment. A conventional strategy to questioning can aid in maturing training processes

Criminal Law Assignment Example | Topics and Well Written Essays - 1000 words

Criminal Law - Assignment Example The guilty act/omission of the defendant must be the factual and legal cause of the death. To establish factual causation, the court in White1 established the ‘but for’ test: but for the defendant’s act, would the victim have suffered harm? If the answer is negative, factual causation is established. Legal causation requires that the death be attributable to a culpable act. However, the culpable act does not have to be the only cause. In Benge2, it was held that it is sufficient if it was more than minimal. However, some contributing acts may excuse the defendant from liability. If subsequent acts occur to break the chain of causation, the accused is not liable in law. Nevertheless, regardless of such intervening acts, where the acts of the accused remain the substantial and operative factors of the death, the defendant is not excused from culpability. This was established in the case of Smith3. Actus reus must be accompanied by mens rea. For the crime of murder, it must be proved that the accused had ‘malice aforethought’.4 That is, the accused had the intention to cause the unlawful death. Section 18 of the Offences Against the Person 1861 requires that the accused wounded or caused grievous bodily harm with intent to do some grievous bodily harm. In Mohan,5 the court held that foresight of death or injury was not tantamount to an intention. The test to establish presence of intention was laid by the house of the Lords in Nedrick.6 The court stated that the defendant must recognize that death or serious injury is virtually certain to result from his conduct. Additionally, the House of Lords decision in Woollin7 concluded that the jury could only infer intention when satisfied that death was virtually certain from the defendant’s conduct, and that the defendant appreciated this fact. Gerald will be charged with the crime of murder of Victoria. But for his conduct to hide Victoria in a secret air-tight compartment, she would not have died. His act

Problems of the Society Essay Example for Free

Problems of the Society Essay Many problems of modern society cannot be solved by laws and the legal system because moral behaviour cannot be legislated. The topic very well states that many of the problems faced by the modern world cannot be solved by laws and legal system for the reason that the moral behaviour responsible for these problems cannot be legalised. To start with the very usage of words like sorry , please , thanks cannot be forced by the law eventhough these words have a very high impact on the people in their day to day to activities. It is just the moral responsibility or a reflection of the moral behaviour of a person in doing so. Law can only confine or restrict a individuals physical presence but not his thoughts and perceptions. The very fact that people have a lot of rights in a democratic country restricts the law and puts it into a backseat in controlling the moral behaviour of the people. It is for the people to act justly. A number of Prohibition experiments conducted by the Government to control the consumption of alcohol failed miserably. People never gave up and found new ways of acquiring alcohol inspite of many restrictions from the govt. It is the people who have to understand the ill-effects of alcohol on the society and act accordingly. We have also witnessed a number of cases where people suffering with AIDS are ostracized by the community. Legal system can only help support these people physically/financially but not morally. It is the people who have to understand and act accordingly. One important problem faced by most of the countries is that of Pollution. There are many laws enacted by the Govt. to control pollution. No doubt that these laws are helpful in controlling pollution till a extent but the real control and effect of these laws is put to question. There are factories who would prefer to do away with the rules and regulation by paying up fine/penalty for not adhering to the norms instead of regulating their methods of production because they find it more convenient financially doing so. Air pollution can also be controlled by growing sense of awareness within the people using automobiles say the usage of multi-modal transport whenver possible instead of their personal cars and/or maintaining a sound condition of the engine of the vehicle. Instead law cannot make it mandatory for people to travel only by multi-modal transport system.

The Importance of Commodity Derivatives

The Importance of Commodity Derivatives Equity Commodity Investment â€Å"A COMPARATIVE STUDY BETWEEN EQUITY COMMODITY INVESTMENT OPTION† ABSTRACT India, a commodity based economy where two-third of the one billion population depends on agricultural commodities, surprisingly has an under developed commodity market. Unlike the physical market, futures markets trades in commodity are largely used as risk management (hedging) mechanism on either physical commodity itself or open positions in commodity stock. For instance, a jeweller can hedge his inventory against perceived short-term downturn in gold prices by going short in the future markets. The study aims to know how of the commodities market and how the commodities traded on the exchange. The idea is to understand the importance of commodity derivatives and learn about the market from Indian point of view. In fact it was one of the most vibrant markets till early 70s. Its development and growth was shunted due to numerous restrictions earlier. Now, with most of these restrictions being removed, there is tremendous potential for growth of this market in the country. ACKNOWLEDGEMENT SYNOPSIS FOR THESIS DESIRED AREA Investments Commodity Market in India TITLE OF THE THESIS Comparative Study between Equity Commodity Investment Options† PROBLEM DEFINITION / HYPOTHESIS / RESEARCH OBJECTIVE To have a comparative study between two major Investments options Equity Commodity on the basis of their returns. To study simple properties of commodity futures as an asset class and analyze the hedging properties To understand the possible returns by investing in Commodity Futures when the Commodity Spot Prices are falling and comparing them with those in Stocks and Bonds. INTRODUCTION / LITERATURE TO THE AREA OF RESEARCH In the Capital Markets of the world, preferably in India, Stock is considered as the first option of investment. But, as we all know that there are many other options available with the people to invest / park their hard earned in some of these options are Derivative Market, Mutual Funds, NSC, KVPS, Insurance, FD, Savings A/c’s obviously less considered is the Commodity Market. In the above mentioned options there are some options that do not have the risk factor in it thus they give less return, while others having risk gives more return to the investor. One does not know that the Investments in Commodities will also yield almost the same returns as compared with the Stock, having the same amount of risk involved. SCOPE This research would throw light on the mentioned objectives make people aware of Commodity Futures as an Investment option – which is at its growing stage. RESEARCH METHODOLOGY Primary Data Collection Guidance from the External Guide. Guidance from the Internal Guide. Help from Faculties. Commodities Dealers. Commodities Players (Investors). Secondary Data Collection Web sites Journals Magazines (Financial) Newspapers Research Papers on the same topic Reports of Experts â€Å"Investment is a term with different closely-related meanings in business, finance and economics, related to saving or deferring consumption. An asset is usually purchased, or in a similar way a deposit is made in a bank, in hopes of getting a future return or interest from the same. Literally, investment means the action of putting something somewhere else In finance, investment can be referred to as buying securities or other monetary assets in the money markets or capital markets, or in fairly liquid real assets, such as gold, real estate etc. Valuation is the method for finding the true value of an asset. Different financial investments include shares, bonds and other equity investments. These financial assets are then expected to provide income/ positive future cash streams, and may increase or decrease in its value giving the investor capital gains or losses. Trading in contingent claims or derivative securities do not necessarily have future positive cash flows, and so are not considered assets, or securities or investments. Nevertheless, since their cash flows are closely related to or it is derived from cash flow of specific securities, they are often treated as investments. Banks, mutual funds, pension funds, insurance companies, collective investment schemes, and investment clubs can be used to make investments indirectly. An intermediary generally makes an investment using money from many individuals, each of whom receives a claim on the intermediary, though their legal and procedural details differ. LITERATURE REVIEW The capital market (securities markets) is the market for securities, where the companies and the government can raise funds for long term. Stock market and the bond market form part of capital market. Financial regulators, such as the RBI and SEBI, keep a watch on the capital markets in their respective countries to ensure that investors are protected against any fraud. The capital markets consist of the primary market, where the company floats new securities to investors, and the secondary market, where existing securities are traded. STRUCTURE OF CAPITAL MARKET Primary Market Secondary Market Derivative Market Commodity Market International Market IPO Public Issue) Right Issue Private Placement Sale purchase of existing share debenture Mutual fund Option Future Call Option Put Option Gold Silver Material Etc. NYSE Composite NASDAQ Composite Dow Jones I.A. S4P 500 NIKKEI – 225 NSE BSE Dealing in MCX dealing in STRUCTURE OF SECURITY MARKET Primary Market Secondary Market Derivative Market Commodity Market International Market IPO Public Issue) Right Issue Private Placement Sale purchase of existing share debenture Mutual fund Option Future Call Option Put Option Gold Silver Material Etc. NYSE Composite NASDAQ Composite Dow Jones I.A. S4P 500 NIKKEI – 225 NSE BSE Dealing in MCX dealing in A) Primary Market: It is that part of the capital markets that deals with the issuance of new securities. Companies, governments or public sector institutions can obtain funds through the issue of a new stock or bond which is called initial public offering (IPO). This is typically done through a syndication of securities dealers which in return earn a commission that is built into the price of the security offering. B) Secondary Market: The secondary market is the market for trading of securities that have already been issued in the market. Aftermarket is known as the market that exists in a new security just after the new issue. Investors and speculators can easily trade on the exchange once a newly issued stock is listed on a stock exchange, as market makers make bids and offers in the new stock. C) Derivative Market: Derivative Market Future Market Option Market Future Contract Say – One month – Two month – Three month Call Option Put Option Premium will change at the time of buying No Risk Premium will change at the time of sells No Risk Future Contracts: The future contracts are the future contracts or bids for some specific period like one month, two months and three months, accepted from investor in capital market which is put. Option Market :- The option market is the place where trading is for call and put or buy and sell and only the premium is charged for all call and put trading. D) Commodity Market: Commodity trading might sound like a strange term, but simply put, commodities are items like, wheat, corn, gold and silver, and Cattle and Pork Bellies, and Crude Oil and it has emerged as an important player in the way that people invest in and speculate. INVESTMENT ALTERNATIVES INVESTMENT Financial Assets Real Estate Marketable Financial Assets. Non-marketable Financial Assets Treasury Bills C.D. C.P. Repo Govt. Fixed Insurance bond Govt. Securities Debenture Shares Mutual Fund Equity Pref NSS Bank Deposit Post Office KVP NSC Company Deposit EPF/PPF LIC Gold Silver Previous objects Painting /Art Land / Building Machinery/Equipment etc MARKETABLE FINANCIAL ASSETS Equity or Preference shares Govt/PSU/Pvt/other bonds Mutual Funds Shares (Equity and Preference Share): If you have equity shares of a company, you have an ownership stake in that company. This essentially means that you have a residual interest in income and wealth of the company. Equity shares are classified into the following broad categories Blue chip shares Growth shares Income shares Cyclical shares Speculative shares Bonds: Bonds or debentures represent long-term debt instruments where issuer of a bond promises to pay a stipulated stream of cash flow. Bonds may be classified into the following categories Government securities. Savings bonds Government agency securities. PSU bonds Debentures of private sector companies Preference shares Money Market Instruments:- Money market instruments are debt instruments which have a maturity of less than one year at the time of issue. The important money market instruments are: Treasury bills Commercial paper Certificates of deposit Mutual Funds: A Mutual Fund is a trust that collects the savings of a number of investors, and invest in capital market instruments such as shares, debentures and other securities who share a common financial goal. Unit holders share the income earned through these investments and the capital appreciation in proportion to the number of units owned by them. Mutual Fund offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost and thus is the most suitable investment for the common man. NON-MARKETABLE FINANCIAL ASSETS: A good portion of financial assets is represented by non-marketable financial assets. These can be classified into the following broad categories. Bank deposits Post office deposits Company deposits Provident fund deposits/EPF LIC NSC NSS KVP Life Insurance: Life insurance can also be considered as an investment as insurance premiums represent the sacrifice, and the assured sum represents the benefit. The important types of insurance policies in India are : Endowment assurance policy Money back policy Whole life policy Term assurance policy REAL ESTATES AND OTHERS Real Estate: Residential house is the most important asset in the portfolio for the bulk of the investors. More affluent investors are likely to be interested in the following types of real estate, in addition to a residential house Agricultural land Semi – urban land Commercial property Precious Object: Precious objects are items that are highly valuable in monetary terms. Some important precious objects are ; Gold and silver Precious stones Art objects Financial Derivatives: A financial derivative is an instrument whose value is derived, from the value of an underlying asset be it a real asset, such as gold wheat or oil, or a financial asset, such as a stock, stock index, bond or foreign currency. Forwards Contracts A forward contract, as it occurs in both forward and futures markets, always involves a contract initiated at one time; Performance in accordance with the terms of the contract occurs at one time; Performance in accordance with the terms of the contract occurs at a subsequent time. Further, the type of forward contracting to be considered here always involves an exchange of one asset for another and the price at which the exchange occurs is set at the time of the preliminary contracting. Actual payment and delivery of the good occur afterwards. Futures Contracts A futures contract is highly standardized forward contract with closely specified contract terms and it calls for the exchange of some good at a future date for cash, with the payment for the good to occur at that future date like all forward contracts. The buyer of a futures contract undertakes to receive delivery of the good and pay for it while the seller of a futures promises to deliver the good and take delivery of payment. The price of the good is determined at the initial time of contracting. Option Option contracts grant the right but not the compulsion to buy in the case of a call or sell, in the case of a put a specified quantity of an asset at a predetermined price on or before a specified future date option contract would expire if it is not in the best interest of the option owner to exercise. Swaps Swaps normally trade in the OTC market but there is monitoring of this market segment. Swaps are agreement between two parties to exchange cash flows in the future according to a approved formula and In case of popular interest rate swap, one party agrees to pay a series of set cash flows in exchange for a sequence of variable cost. When compared to global derivatives markets Indian derivative markets are still in the emerging stage. Indian derivatives markets share in the world derivatives market’s value and volumes are very small. But with the starting of trading in different financial and commodities segment, Indian markets are growing very fast. Indian markets are operating with high efficiency and on parity with international standards. The major exchanges and the derivative products traded in India: 1. Bombay Stock Exchange (BSE) 2. National Stock Exchange OF India Ltd (NSE) 3. National Commodity Derivatives Exchange Limited (NCDEX) 4. Multi Commodity Exchange of India Ltd (MCX) 5. National Multi Commodity Exchange of India Ltd (NMCE) INVESTMENT ATTRIBUTES For evaluating an investment values, the following attributes are relevant. Rate of return Risk Safety Profitability Purchasing power risk Maturity Marketability Tax shelter Convenience Rate of Return: The rate of return on an investment for a period (which is usually a period of one year) is defined as follows: Rate of return = Annual income + (Ending price – Beginning price) Beginning price To illustrate, consider the following information about a certain equity share. Price at the beginning of the year: Rs. 80.00 Dividend paid in the year: Rs. 4.00 Price at the end of the year: Rs. 87.00 The rate of return of this share is calculated as follows: 4.00 + (87.0-80.00) = 13.75 percent 80.00 Yield In general, yield is  the yearly rate of return  for any investment and is expressed as a percentage, With stocks, yield can refer to the rate of income generated from  a stock in the form of regular dividends and is often represented in percentage form, calculated as the annual dividend payments divided by the stocks current share price. Investors can use yield to measure the performance of their investments and  compare it to the yield on other investments or securities. Generally, higher risk securities offer higher expected yields as compensation for the additional risk incurred through ownership of the security. Investors looking to make income or cash flow streams from equity investments commonly look for stocks  that shell out high dividend yields, in other words, stocks that give a relatively large amount of annual cash dividends for a relatively low share price. Annual income (interest or dividends) divided by the current price of the security. This measure looks at the current price of  a bond instead of its face value and represents the return an investor would expect if  he/ she  purchased the bond and held it for a year. This measure is not an accurate reflection of the actual return that  an investor  will receive in all cases  because bond and stock  prices are continuously changing due to market factors. Capital Appreciation: It’s the rise in the market price of an asset. Capital appreciation is one of two major ways for investors to profit from an investment in a company. The other is through dividend income. Risk The risk of investment may be classified in following ways Type of Risk Internal Rate of Return Risk Market risk Inflation Risk Default Risk Business Risk Financial Risk Management Risk Liquidity Risk The rate of return from investments like equity shares, real estate, and gold can vary rather widely. The risk of investment refers to the variability of its rate of return: How much do individual outcomes deviate form the expected value? A simple measure of dispersion is the range of values, which is simply the difference between the highest and the lowest values. Other measures commonly used in finance are as follows: Variance :This is the mean of the squares of deviations of individual returns around their average values Standard deviation:This is the square root of variance Beta :This reflects how volatile the return from an investment is, in response to market swings. Risk = Actual Return – Expected Returns Condition: If, Actual Return = Expected Return = Risk Free Investment If, Actual Return > or Low Variance (Low Risk) High Variance (High Risk) Expected Return Marketability: An investment is highly marketable or liquid if: (a) it can be transacted quickly: (b) the transaction cost is low; and (c) the price change between two successive transactions is negligible. The liquidity of a market may be judged in terms of its depth, breadth, and resilience. Depth refers to the existence of buy as well as sell orders around the current market price. Breadth implies the presence of such orders in substantial volume. Resilience means that new orders emerge in response to price changes. Generally, equity shares of large, well – established companies enjoy high marketability and equity shares of small companies in their formative years have low marketability. High marketability is a desirable characteristic and low marketability is an undesirable one. How does one evaluate the marketability of an investment like a provident fund deposit which is non-marketable by its very nature? In such a case, the relevant questions of ask is: can withdrawals be made or loans be taken against the deposit? Such as investment may be regarded as highly marketable if any of the following conditions are satisfied: A substantial portion of the accumulated balance can be withdrawn without significant penalty; A loan (representing a significant portion of the accumulated balance) can be raised at a rate of interest that is only slightly higher than the rate of interest earned on the investment itself. Tax Shelter: Some investments provide tax benefits; others do not. Tax benefits are of the following three kinds. Initial Tax Benefit; An initial tax benefit refers to the tax relief enjoyed at the time of making the investment. For example, when you make a deposit in a Public Provident Fund Account, you get a tax benefit under Section 80 C of the Income Tax Act. Continuing Tax Benefit: A continuing tax benefits represent the tax shield associated with the periodic returns form the investment. For example, dividend income and income from certain other sources are tax – exempts, upto a certain limit, in the hands of the recipient. Terminal Tax Benefits; A terminal tax benefit refers to relief from taxation when an investment is realized or liquidated. For example, a withdrawal from a Public Provident Fund Account is not subject to tax. Convenience: Convenience broadly refers to the ease with which the investment can be made and looked after. Put differently, the questions that we ask to judge convenience are: Can the investment be made readily? Can the investment be looked after easily? The degree of convenience associated with investments varies widely. At one end of the spectrum is the deposit in a savings bank account that can be made readily and that does not require any maintenance effort. At the other end of the spectrum is the purchase of a property that may involved a lot of procedural and legal hassles at the time of acquisitions and a great deal of maintenance effort subsequently. A COMPARATIVE STATEMENT OF VARIOUS INVESTMENTS ALTERNATIVES A summary evaluation of these investment avenues in terms of key investment attributes is given in Exhibit below. It must be emphasized that within each investment category individual assets display some variations. Exhibit: Summary Evaluation of Various Investment Avenues Return Current yield Capital appreciation Risk Marketability / Liquidity Tax shelter Convenience Equity Shares Low High High Fairly high High High Non – convertible Debentures High Negligible Low Average Nil High Equity Schemes Low High High High High Very high Debt Schemes Moderate Low Low High No tax on dividends Very high Bank deposits Moderate Nil Negligible High Nil Very high Public provident fund Nil Moderate Nil Average Section 80 C benefit Very high Residential Moderate Moderate Negligible Low High Fair Gold and Silver Nil Moderate Average Average Nil Average INVESTMENT VERSUS SPECULATION While it is difficult to draw the line of distinction between investment and speculation, it is possible to broadly distinguish the characteristics of an investor from those of a speculator as follows. Investor Speculator Planning horizon An investor has a relatively longer planning horizon. His holding period is usually at least one year. A speculator has a very short planning horizon. His holding may be a few days to a few months. Risk disposition An investor is normally not willing to assume more than moderate risk. Rarely does he knowingly assume high risk. A speculator is ordinarily willing to assume high risk. Return expectation

Business Essays Heineken Beer Market

Business Essays Heineken Beer Market Heineken Beer Market Executive Summary Chapter 1 analyze threats Heineken is facing and opportunities the company can get from the beer market by using two model PESTLE and Porter Five Forces. PESTLE describe what difficulties come from external environmental factors that the company is facing and Porter five force analyze the threats as well as opportunities of Heineken in suppliers, buyers, competitors, substitutes and new entrant. OT factors in SWOT analysis also use to define in chapter 1 for threats and opportunities of the company. Chapter 2 describes strengths and weaknesses in the company operation through the analysis of internal environment such as company resources, organizational structure and culture. The resources with include tangible, intangible, management capability and marketing which used to identify what the advantages Heineken are managing for the performance of their operation. SW in SWOT also use at the same time to analyze strongly what strengths and weaknesses Heineken is taking. Chapter 3 assesses how Heineken perform in term of effectiveness, efficiency and return to shareholders based on efficiency ratios and performance investment ratios. This assessment identifies the market share and market growth of company in the market. Chapter 4 finding the options those are available to the company and recommendation of the most appropriate ones for future strategic direction. Chapter 5 finding recommendations for structures, systems and policies which use to implement these strategies successfully. Chapter 6 the outline of my assessment of the usefulness of strategic management models for Heineken analysis. How PEST, Porter Five Force, SWOT, resource-based and financial analysis use to be described for my analysis successfully. Introduction Today beer is widely available and enjoyed in most countries and cultures around the world. Heineken is one of the largest companies in a global network of distributors and breweries. In addition, Heineken owns and manages one of the worlds leading portfolios of beer brands in terms of sales volume and profitability. Moreover, the company has been able to remain one of the worlds leading consumer and corporate brands for more than 130 years. It became Europes favorite beer brand successfully exported to every corner of the world. Chapter 1 Analysis of the external general PESTLE model Political Beer is a kind of drink that the government excises significantly because it contains alcohol which is addicted people. Therefore, this will affect Heineken Company in sale volume in the market. With internationalisation and globalisation, more and more brewers are hunting for new markets, governments on the other hand with and intention to gain maximum profit as well as get empathy on ethical grounds are imposing heavy taxes on liquor and beer imports. As a result, this fact will bring threat for Heineken. For example, recently drinking alcohol is prohibited on public transport in London. This hence will impact on the beer market because people want to enjoy their beer not only at home but also at public where they can have fun time with their friends. Economic Heineken has many operations in mature – mainly Western European and it is reported in Euros. Therefore, the currency fluctuations could create threat to the overall company results, especially relating to the US dollar. However, Heineken has a clear policy on hedging transactional exchange risks; this would postpone the impact on financial results. Nowadays, unemployment has risen due to recession in the market and this will result in more people will choose some cheaper alternative. As a result, Heineken with premium price will be impacted for that. This also brings threats for company in distribution aspect. Social culture Nowadays, beer is not only for men enjoy it but women also drink beer to enjoy its taste. Furthermore, life style of the new generation has become very fast and different, which result in lack of time in today life. Thus the consumption at bars is declining. This means that the beer market will be affected by this as well as Heineken Company, this will lead to go down in sale volume. Furthermore, demographic changes would influence the company a lot. For examples, in China where the population is going up rapidly and this combined with consumer having increasing amounts of leisure time. Therefore, these would lead to consumption of beer in China grew by 33.56% between 2000 and 2006. China now has overtaken the United State to become the largest national beer market in the world. As a result Heineken Company will have significant sale volume in this market. Technology Now it is hard to find a part of the company’s business that doesn’t use technology. Therefore, technology is developed will impact the company as well as beer industry. Information technology security upgraded has created opportunities for Heineken’s worldwide business operations, and connectivity in the company and with outside partners is increasing. For example, the recent advancement in the technology has opened huge markets for organizations to access world population without any barriers. This can be taken as a chance to reach out to almost every location on the globe. Hence Heineken will open their market in many locations in the world. Porter’s five forces model The bargaining power of suppliers The suppliers of raw materials to Heineken Company are mainly farmers. Therefore, the threat for power of supplier is high. The bottle supplier for Heineken is provided by Heye Glas Nederland which is fully supplied the green bottle for the worldwide distribution of Heineken beer. In the past, Heineken kept only 33% its stake in Heye Glas in order to secure the supply of high quality export bottles at a lower cost to meet the needs for demand but now Heineken has kept 100% stake in 2002. Beer is produced by water, barley, hops and yeast. These ingredients are supplied by farmers. Heineken also mentioned that competition for agricultural products from the biofuels industry that is affecting their costs. The bargaining power of buyers The buyers in this industry have many choices as there are many companies serving beer. This will increase the choice of the customer and hence the threat for power of buyers is high. For example, for serving customer at the pub, there are a lot of beer brands for them to fit their taste such as Guiness, Carlsberg, Tiger. Therefore, buyers now have a choice to choose the one they like. As a result, choosing of customer for what kind beer they want to drink will bring threats for Heineken. The threat of potential new entrants Nowadays, an explosion of smaller brewers has entered the market during the past decade that making the industry much more competitive. Heineken is one of the largest brewers in the world and they have to share market with other brewer. The barrier in the beer market is low. Therefore, the threat of potential new entrants for Heineken is high. This will make Heineken considering to create innovation or uniqueness into their product that can sustain competitive advantages in the beer market. The threat of substitutes Beer is a kind of beverage which contains alcohol. However, people can switch to drink wine which also is alcohol drink. Customer’s taste is not similar so that they have right to choose what they want to enjoy, so this will affect the beer market as well as Heineken Company. As a result, the threat of substitute for beer market is high. The extent of competitive rivalry Heineken has achieved the economy of scale in the market especially in Europe. It holds about 30% of market share in European beer market. Since the beer market is growing, so the competitors will try to attain their growth targets. The large brewer like Heineken tends to enforce their own strategies to the beer industry and due the economies of scale they will produce higher quality and unique products which can make their own place in the market, hence keep themselves growing to achieve their target. Chapter 2 Internal analysis of the company Analysis the resources Tangible: Since Heineken know that their plant and equipment is a key for company production, they invest so much in the infrastructure to make sure that their operation is working efficiently. For example, Heineken have four breweries in Russia, all those use KHS Till plant technology. This equipment at Heineken’s packaging can processes 50 liter kegs in addition to 30 liter at an output of up to 140 kegs an hour. As a result, the two-lane machine can operate with one racking, six washing and sterilizing stations. Intangible: brand name is most valuable asset of the Heineken Company, they has built this name Heineken with premium brand. The company recognizes that brand is very important key for them to develop a strong presence globally in the beer market so that Heineken have a lot of marketing activities for its brand name. Furthermore, branding is also a highly defensible competitive advantage for Heineken; this would bring strength to company expansion. Hence Heineken Company can stretch their production internationally and add more money for company. Management capability: Heineken implemented a number of new initiatives in the area of leadership development in 2004. One is a new leadership competency model that defines behavior expectations from all senior managers at Heineken. The model takes Heineken company ambitions and values as a starting point and translates these into the leadership behavior required from senior managers. With marketing differentiation using different message within normal media advertising can also have differentiating effect. This differentiation will bring strengths for Heineken. When most advertisers are pursuing essentially the beer market with the same message like showing gregarious groups of males in public houses having an enjoyable night out. In the other hand, Heineken managed to differentiate its beer by using a series of advertisements employing humour and the caption Heineken refreshed the parts other beers can not reach. Organizational structure In 2005 Heineken announced that it was created a new top management structure, this would drive and support growth as a global organization. In order to connect functions, operation and finance in a more effective way, the company create a new more streamlines Executive Board. Hence change would lead to create strengths for operating regions and global functions. Furthermore, Heineken has grown substantially over the past four years. The new structure is better suited to the present organization and ensures faster decision-making. In the beer market where the consolidation process is accelerating and rapid introduction of innovations is essential, this is crucial to the achievement of Heineken’s long term ambitions. Culture Heineken is proud of they are one of the world’s great beer companies. Hence their culture will reflect the company view and values. These values create so many strengths for company to develop their environment within the company. Heineken based on the value that they respect their employees, business partners, customers, shareholders and all others who are connected to the company. Furthermore, Heineken make life more enjoyable by bring enjoyment to life, they also encourage this core value within the working places and atmosphere within the company. In addition, company has a fundamental belief in the concept and delivery of quality, it is also reflected in their other activities such as their social and employment policies. This will create benefit and value both for Heineken and their reputation. As a result, these values define Heineken corporate culture and working methods which help company to do the business successfully. Chapter 3 Evaluation of the company’s financial performance 2005 2006 2007 Return on investment (ROI) 14% 20% 12% Return on equity (ROE) 21.1% 27.0% 15.5% Net profit margin 7.05% 11.02% 7.72% Dividend payout ratio 25.8% 24.3% 42.5% Earnings per share 1.71 1.90 2.29 Return on investment of Heineken changed from 2005 to 2007. In 2006 return on investment have a significant improvement compared to 2005. The increasing of ROI show the efficiency which Heineken got profit from its technology investment. The reason for increasing ROI is that the company deployed Windows Mobile 5.0 in 2006 and has experienced significant business benefits. Company has improves account development by offering its sales representatives instant access to pricing, promotions, availability and accounts receivable data. Window mobile led to an average sales increase after deployment. The return on equity of Heineken rose 5.9% in 2006 then declined 11.5% in 2007.The reason for going up return on equity is net profit increasing. In 2005 Heineken’s net profit is â‚ ¬761 millions and it was increasing to â‚ ¬1211 millions in 2006.The rising of return on equity shows that the company have used money from shareholders effectively in manufacturing. However, declining return on equity indicated that the Heineken beer was getting more expensive to produce because the prices of raw materials and packaging have raised significantly, transportation, energy and pressure on labor costs were also expected in the beer market. In 2006 net profit margin of Heineken increased so much compared with 2005 and 2007. 11.02 % show that the company got more profit from their sale. In that year, the distribution of Heineken went up with 111.9 hectoliters in consolidated beer volumes. Furthermore, the company achieved the best annual growth rate for Heineken premium brand for many years with growth of 11.8 %. With these reason Heineken achieved their performance effectively. From the table above we can see dividend pay out ratio decrease 1.5% in 2006 and then increase so much 18.2 % in 2007.The reason of increasing is that Heineken  has been changing its dividend pay-out policy at the end of 2006. This means that it would up the amount paid to shareholders from 20-25% of net profit before exceptional items and amortization to between 30% and 35%. These proposals support Heinekens intention to preserve its independence, to maintain a healthy financial structure in order to grow the business both organically and through acquisition. Earning per share of Heineken increased from 2005 to 2007. These figures above show the company has maintenance revenue. Distributions of company increase every year so that Heineken could earn from 1 share which investors have invested. Moreover, increasing company market share by earning per share will indicate that the profit getting from every dollar invested can satisfy both Heinekens’ stakeholders and shareholder. Chapter 4 Recommendations on strategic options 4.1. To face with the alcohol pressure in the market, Heineken have the strategy to produce and sell beer in the ways that have a positive impact on society at large. With this strategy, Heineken promotes awareness of the advantages and disadvantages of alcohol, this also encourage informed consumers to be accountable for their own actions. For example, in 2006 the launching of the â€Å"Enjoy Heineken Responsibly† program was finalized. Therefore nowadays company is becoming more and more engaged to promote responsible consumption in partnership with consumers. By using this strategy as purpose the company does not want beer consumers to condone in any way the abuse of alcohol, particularly Heineken Brand. As a result this will lead to the Company get positive aspect for their production in the society. I strongly recommend Heineken should use this strategy. 4.2. For solving the problem with currency risks as the global market is unstable in exchange money, Heineken have a strategy on hedging transactional exchange risks which postpones the impact on company finance result. After deduction of dollar-denominated costs, a net cash inflow in US dollars remains. This cash flow is hedged in advance mostly by means of forward contracts. This reduces the volatility of export results and the â‚ ¬ cash flows due to short-term fluctuations in the value of the US dollar against the Euro. Transactions are entered into with a limited number of counterparties. I don’t recommend that the company use this strategy because the global market is unpredictable. 4.3. To intensify the international marketing Heineken have sponsored for a lot of entertainments activities in the world. This strategy would bring the biggest strengths for Heineken brand name. For example, company is a major sponsor of tennis champion such as Wimbledon, the US Open, Australia Open and the Shanghai Open. Moreover, the music plan adopted also remains a key sponsorship area for Heineken. For example, in Singapore has been successful that it is now used in other markets such as Malaysia and Thailand. Following with these marketing strategies on advertisement, the good thing company would show that Heineken always attend to social activities that mean they are not only bring enjoyable but also bring responsible to people around the world. I recommend Heineken should continue to pursue this strategy. 4.4. For adapting with development of technology, Heineken has a strict information technology (IT) security strategy to ensure confidentiality, integrity and availability of information and data. Furthermore, supporting and monitoring activities towards operating IT are being strengthened for the company. Moreover, IT contingency measures with regard to the partly outsourced IT shared service centre. The benefit of this strategy on IT would help Heineken to connect with so many operations around the world. I recommend company use this strategy. 4.5. By using brand strategy Heineken has built a strong portfolio that combines the power of local and international brands. Furthermore, the consistent growth of brand requires solid creative brand management which Heineken coordinate centrally. Company has developed and adopted brand strategy to get strengthening in the market share where there are lots of other brewers there. I recommend Heineken use this strategy. 4.6. To sustain with strong position in the beer market, Heineken have adapted competitive strategy in its management. By offering competitively priced and quality products, Heineken want to give consumers the premium product with reasonable price compare with other brewers. The management of company recognizes that to maintain Heineken’s sales, they need to focus on what consumer needs. In addition to look at the strengths and weaknesses of the competitor in the key business segments, competitive strategy would bring advantages for Heineken to compete with it’s competitor for attracting customers. Chapter 5 Recommendations on the most feasible strategic options 5.1. Responsibility is a heart of alcohol policy. Based on the alcohol policy adopted Heineken want to stress that their operations need to sustain dialogue with government and health organizations. The objectives of policy are to prevent misuse and abuse of alcohol. Furthermore, they want to ensure that responsible consumption of beer is socially acceptable. In addition to help Heineken be a truly sustainable business. With this alcohol policy would implement for succeed of strategy. 5.2. As consumer needs and tastes vary, Heineken must decide how much to adapt marketing strategy to local needs using a variance of standardized marketing mix adapted marketing mix, owing to the strong brand preferences loyalties that exist among the beer drinkers. Also, Heineken need to prioritize between global integration versus national responsiveness evident from decreasing sales in Holland, Rest of Europe, and Africa. Besides that the beer market is also attractive in terms of size and future growth, this approach would help the company differentiate Heineken beer with premium price compared with other beer brewer. 5.3. Data synchronization provider system can manage data behind the firewall while benefiting from one point of access to the Global Data Synchronization Network. This system would help to minimal disruption to Heinekens day-to-day operations. This integration is the first in a series of initiatives that Heineken International has been planning to accelerate its data synchronization activities through one central connection point. As a result, this system would implement highly for technology strategy to the company. 5.4. Using the branding policy the company has built brand recognition for long-term to differentiate the brand Heineken and be sure to add value to the product in order to get the brand loyalty. The brand policy also stresses for maintenance of beer quality or creates benefits for society and culture, and also provides an emotion to its consumers. This policy would add more value for Heineken Company in successful way. 5.5. Heineken has in place a strong competition compliance policy across the entire business and has a comprehensive code of business conduct for all employees. Furthermore, Heineken believes in the principle of fair competition. It will keep in place policies and programmes aimed at giving guidance to employees to ensure that they understand competition laws and act in compliance with them. Chapter 6 The assessment of the usefulness of strategic management models 6.1. To me, I find that the PEST analysis is a useful business measurement tool. It’s looking at external factors to the organization. Following the factors of the analysis, I can see the big picture of Heineken’s environment in which they are operating and the opportunities and threats that lie within it. By analyzing factors of PEST model I can understand the Heineken external environment and how the environment affects business performance of the company. 6.2. For me, I find that The Porter’s five forces tool is a simple but powerful tool for understanding where power lies in a business situation. This model is useful because it helps me understand both the threats of Heineken current competitive position and the strength of a position company are looking to move into. Furthermore, understanding the nature of Heineken competitive environment by using Porter’s five forces model, I can analyze what are crucially important for company to build long-term business strategy and sustain competitive advantages in the market. 6.3. SWOT analysis is a powerful model for me to understand Heineken strengths, weaknesses, opportunities and threats that company face. This model helps me to assess what Heineken can and can not do as well as its potential opportunities and threats. Therefore, I can know what may assist the firm in accomplishing Heineken’s objectives and obstacles. Moreover, the model is also useful in the way that it gives me the overall performance of Heineken. Hence I can analyze where the place the company get their position. 6.4. Resource-based theory is useful to me in the analysis of internal factors of Heineken following these reasons. Firstly, I can find the factors that deliver sustainable competitive for the company like branding. Secondly, the physical resources can give me a look about the efficient operation of Heineken in new technology they adopted. Thirdly, by understanding resource-based I can recognize that the way company has the dominant position in the beer market compare with other breweries. 6.5. Financial analysis method is useful for me to understand the measurement of performance of Heineken. Based on the ratio formula I can see how effectiveness and how the financial risk company was doing. Moreover, looking at the numbers which company has represented on the financial statement, I can know the market share that Heineken has positioned in the market place and the market growth company has developed. As a result of calculating for financial analysis for every year I can find how the company has operated in the effectiveness way. Conclusion I think that with all analysis include external and internal environments, company performance and all the strategy and policies Heineken adopted will help company to step more successful in the future. Although Heineken now have some troubles in production or distributions but the top management are considering creating flexible way to overcome them and then Heineken Company will keep their position is that one of the most largest brewers in the world. Appendix Key financial ratios 2007 IFRS 2006 IFRS 2005 IFRS Net profit margin 7.72% 11.02% 7.05% Operating profit margin 12.0% 15.3% 11.6% EBIT margin 12.2% 15.5% 11.9% EPS 2.29 1.90 1.71 Operating cash flow per share 3.53 3.77 3.82 ROE 15.5% 27.0% 21.1% Equity/ borrowed capital 0.85 0.74 0.62 Interest coverage ratio 22.7 19.7 14.8 Net Debt/ EBITDA 0.8 0.7 1.3 Operating free cash flow/ net debt 0.39 0.59 0.43 Cash conversion rate