Human Resource Development Essay Example | Topics and Well Written Essays - 750 words

Human Resource Development - Essay Example Human Resource Development (HRD) can also take an informal shape for example employees being coached by a manager. Healthy organizations, in meaningful terms, have strong faith in Human Resource Development and cover all its fundamental aspects. Learning and development is continuous process in every aspect whether it's in organizational or in classroom, people or an employee always learn something new in every area which will help in developing its skills and knowledge which also support him/her to work better in an organization or any other working condition. Ans. In my opinion learning is a continuous process and person will always learn on every stage of life. According to me learning will be more practical to gain an effective skills, knowledge, and motivation by developing the vision and skills that result in real team commitment; Build and lead empowered and motivated teams; Delegate tasks and authority while maintaining control, communicate effectively at all levels, create w orld-class team performance, Become a skilled and effective team leader. Ans. 2.Needs and performance are the main factors to improve learning. Discus this issue in relation to E-learning method to learn. Ans. Learning is a phenomenon within this definition that takes place across various locations, or that reaps benefits of learning opportunities provided by moveable technologies. In other words, E-learning decreases limitation of learning location with the mobility of general portable devices. The term covers: learning with portable technologies, where the focus is on the technology (which could be in a fixed location, such as a classroom).in today's world technology places very positive and effective role in several sectors and in different aspects such as in performance and needs as well. This technology will help in effective learning in every person's life because it's really fast and effective and the person can learn everything very easily and work can be done efficiently af ter effective learning in relation to E- learning. 3. State the main problem, objective that this university applied this teaching method. Ans. Arab Open University runs degree programs in the Middle Eastern country by providing open learning business studies. The lecturers adopt an action learning approach to teaching during their periodic time to students. However, resistance to this method is regularly experienced.

Abercrombie & Fitch (A&F) Essay Example for Free

Abercrombie Fitch (AF) Essay Products (Revised): Abercrombie Fitch Co. is a leading specialty clothing retailer. It always utilizes sex appeal to sell its products. AF often uses semi-nude models with rock hard abs on their new store opening ceremony and puts posters on the wall of store with hot semi-nude Caucasian. AF prefers to decorate their store with dark jungle feel. All of those strategies aim the same target, the sex attraction. A feature which can make a huge distinction from other brands is that AF doesn’t stock XL or XXL sizes for women clothing. It claimed that they want â€Å"cool kids†. The reason why they took this strategy is because the company wants to inspire consumers to strive for the Abercrombie Fitch â€Å"lifestyle.† Abercrombie Fitch sells a â€Å"lifestyle† of popularity that people aspire to have (Reichert, 2003). Their advertisements imply that AF is a fastidious and attractive brand and if you can have their clothing and then you can be the one of them. This characteristic makes the market polarized heavily. In the one hand, this declaration attracts some customers of its target groups indeed. Because people always want to be considered as â€Å"chic† and â€Å"fashionable†. So if there is a way can make them feel being cool, they will go for it. And they also want to beat others in anyways. AF gives the opportunities for those people exactly. The â€Å"not cool† people even can’t fit in the clothing of AF. Also as Jeffries said, those â€Å"cool kids† have their â€Å"cool† friends, and then AF can become a new fashion. On the other hand, this overt and cruel design results a consequence of losing profits of excluding customers. They can’t fit in those small sizes so they wont buy them certainly. The worse thing is that they may hate this brand. Now there are many video on YouTube of blaming AF’s strategy. The target markets of AF’s products are divided in detail. It aims the younger generation in the US generally. The target market falls between those ages because 14 years old is usually when a teenager begins dressing themselves and shopping for themselves, so naturally they want to dress  something cool and attractive. They target the groups in two ways. One of them is by the styles of products. Younger people like to wear in casual sports style like hoodies or joggers more than mature adults. They prefer chic style than OL. However it also leads the loss of other people who are excluded in these groups. Because most of the products are designed for youthful people, mature adults may think it’s too young to wear which is not good for expanding market. Unfortunately, mature people have stronger power in purchasing. So AF lose potential customers in unawareness. The second way is their store style. The decorations with semi-nude posters are offensive to older generatio ns and they even don’t want to walk in the stores. In conclusion, AF puts their products in an extreme position. AF only serves for the spectacular people who are targeted by clothing favor and size. The detailed target makes it easier to get the favor of specific customers. Price: The price of Abercrombie Fitch clothing from  £10 to  £150.Most of the tops are around  £30- £60 and the bottoms are  £50- £90. The coats and jackets are more expensive (more than  £90). Although it claims that they are providing quality and long lasting clothing, the price is a little bit higher considering their target consumers. Because the young adults usually can’t be independence of finance. However the young people often buy things on their instincts rather than rationality. So the high price may not be an obstacle of purchasing as long as they firmly believe the messages that AF is trying to imply (having AF clothing and being attractive and beautiful). Moreover the price represents not only their products but also their brand. AF puts itself at a high level of fashion. It makes the consumers strive for it instead of earning them. The high price can be a label of high level and it exactly caters to its attractive style which AF is always trying to sell. In addition, AF barely puts their clothing on sale. It’s largely because of their willingness to change everything in order to hang on to a non-price position and a revenue-driven profit formula. (WHY ABERCROMBIE FITCH (ALMOST) NEVER PUTS  ANYTHING ON SALE, BY MICHAEL E. RAYNOR AND MUMTAZ AHMED) After the economic depression more and more people focus on the price. Unfortunately competitors such as HM have relied heavily on discounts to gain market share while AF has struggled with its premium brand position and pricing. The slow adaptation of price promotions has positioned the company behind its competitors. (Strategic Analysis for: Abercrombie Fitch Co.) People turn to other brands because they can’t accept the high price of AF. For Abercrombie Fitch, how to balance the price and the high level position is one of their problem. Place Abercrombie Fitch has stores in 17 countries in the world including 323 stores. However there are 301 stores in the US and most of other countries only have one or two stores in their capital or booming city. In the USA, AF build their store along the coast more than in the middle because of the economics. Choosing the main cities to build stores can provide more customers because they pay more attention on dressing than small cities. People who live in big city can also have more purchasing power. They live in a higher level and care more about the brand. It’s exactly befit the propose of AF. In addition it’s a good way to show the brand’s attitude by building stores in big cities. It implies AF is at high level as the big city to the country. AF came from the US so it’s common to have a lot of stores in the US. In the mean time it also opens new market in Europe and Asia slowly. Because of the culture differences, every country has its own style of dressing so every single store in overseas has to be careful or it may get a financial loss. With the development of network, AF established the online shopping system. As other brands, AF can deliver the items to mostly address. It also has complete return/exchange policies. This channel expands the scale of customers. The limits of regions are most gone which depends on the shipping  situation of specific areas. People can sit in their room and buy commodities by internet. This way is more convenient than the traditional way and more suitable for the modern young people.

Photographers of the Old West :: Research History Photography Papers

Photographers of the Old West In a society that is focused on visual stimuli, it isn't uncommon to see a person taking a picture with a camera or making a "movie" with their camcorder. But, in the 1840s and 1850s, life just wasn't like that. If someone said they could make a picture of a mining town or of the route to the West without a pencil or paint people would have laughed at them. Laughing would have been appropriate because photography didn't come into being until 1839. James Horan reveals in his book, Mathew Brady: Historian with a Camera, that it wasn't even called photography then, it was called the "new art" (5). There were very few people who knew what it was to take a picture, or make a picture with light. The only pictures that were around at that time were those that were drawn, painted, or printed from lithographs or etchings. Newspapers didn't have real live pictures that showed the actual things that were written about. The population of America as it was in 1800 didn't know what the "West" look ed like. According to Eugene Ostroff, sketches and paintings were the only illustrations of the West before photography (9). Ostroff tells us that these weren't usually accepted if the painter had taken artistic license (9). All Americans knew were the stories of the people who returned because it was too difficult to live there or the letters from friends and family telling the horrors they saw. So, with the invention of photography, especially the ability to "fix" the image onto the paper or metal plate had a major effect on the expansion to the West because the pictures that were taken showed how the West really was beautiful. Unfortunately, it was a while before the public was able to see the pictures that were taken by the photographers of the West because 1839 was only the very beginning of photography as a profession and a hobby. The first type of using light to make a picture was the daguerreotype. Both Louis Jacques Mande Daguerre and Nicephore Niepce, who passed away before the public was introduced to the daguerreotype, founded this type of picture taking. However, before this Louis Daguerre made a "theater without actors." Beaumont Newhall explains that this was an illusion made by extraordinary lighting effects that made the 45 Â ½ foot by 71 Â ½ foot pictures appear to change as one looked at them (2).

The Racial Debate of Mark Twains The Adventures of Huckleberry Finn Es

The Racial Debate of The Adventures of Huckleberry Finn      Ã‚  Ã‚  Ã‚  Ã‚   The Adventures of Huckleberry Finn, throughout the years, has provoked many debates pertaining to racism. A variety of individuals believe that Mark Twain expressed apparently racist ideas. The reason being, this novel shows the relationships between blacks and whites in the nineteenth century and all the ugliness that accompanied these associations. However, this novel is not a racist novel; it shows these situations not to promote racism, but to bring a better understanding of the subject and how one can overcome individual prejudices and grow from these experiences.   This novel shows Huck Finn, a product of this insufferable society, coming to the realization of how uncivilized and ignorant his white peers have become.   By showing these situations and the transformations Huck goes through, the reader sees racism and its effects in real life settings.   It is imperative for the reader to recognize the ideas and repulsiveness of the South at that time in history; and Twain with his writing of The Adventures of Huckleberry Finn attempts to challenge these ideas throughout the novel. Twain shows the irony and hypocrisy of treating people as property through Huck's eyes, and uses Huck to educate us in the immorality of this practice.   Ã‚  Ã‚  Ã‚   For many of Twain's critics, this novel is racism with a face on it and for the most obvious reason; the word "nigger" is used throughout.   But seeing the novel takes place in the Deep South about twenty years before the Civil War, it would be highly unusual if they didn't use this word. James M. Cox wrote, The language is neither imprisoned in a frame nor distorted into a caricature; rather, it becom... ...laude M Simpson. Englewood Cliffs,N.J. 1968. Fishkin, Shelley Fisher, Phd. "Teaching Mark Twain's Adventures of Huckleberry  Ã‚  Ã‚  Ã‚   Finn", 1995, July Summer Teachers Institute, Hartford, Connecticut @1995 http://www.pbs.org/wgbn/cultureshorck/teachers/huck/essay.html Leavis, F.R. "Introduction to Pudd'nhead Wilson". (London: Chatto and   Windus, Ltd., 1955) Rpt. Twentieth Century Interpretations of Adventures of Huckleberry Finn Ed. Claude M Simpson. Englewood Cliffs,N.J. 1968. Twain, Mark. The Adventures of Huckleberry Finn. Berkeley: University of California Press, 2001. Zwick, Jim. "Civil Rights or Book Banning? Three New Approaches to Huckleberry Finn" http://www.boondocksnet.com/twainwww/essays/civil_rights9809.html Hentoff, Nat. "Expelling Huck Finn". Jewish World Review   29 Nov. 1999. www.Jewishworldreview.com/cols/hentoff/12999.asp

Batman essay

Brace's father and mother were killed, when Bruce as a child, insisted that they leave a play hat had bats in it; they were gunned down by a low-life thug, who panicked when things during the robbery got heated. Bruce, left with a guilty conscience that it was his fault that his parents were killed, turned to a life of crime and was eventually sent to Jail. After meeting Era's al ghoul he was trained to be a warrior. To Bruce, this was a chance to try and save Gotcha from people like Falconer.When Bruce was to be tested by executing a prisoner of the League of Shadows (the organization that Bruce was trained by). He couldn't do it, because if he did, he would be doing the same thing that he is punishing criminals for, so Instead of falling to the dark, and twisted path, he flees the League of Shadows, leaving a destroyed â€Å"DODOS† behind him; a path set for the salvation of Gotcha before him. Bruce decided to use a symbol, the bat to begin his campaign of Justice.Bruce beco mes the batman and took his Justice to a corrupted Gotcha, a place his father had set to save, was now In the hands of Bruce Wayne, the Batman. Batman brought the fear to people Like Falconer and Dry. Crane ND he saved many people from thugs that Infected the city throughout. The Bat's Idea of Justice was to save people, and maybe reach a peace In his heart from a life wasted, sitting In the type of rot his father always wished to cure Gotcha of. Henry Ducal tells Bruce that Justice Is balance: an eye-for-eye and tooth-for-tooth.As an example Ducal burns down Wayne Manor because Bruce had burned down Ducat's house. â€Å"Consider us even,† Ducal said. According to Ducal, Justice and revenge are one and the same. However Brace's Love, Rachel Dates responds very Nintendo to Bruce when he says he wanted to kill the man who murdered his parents because they deserved Justice. Rachel says that there Is a difference between Justice and revenge: â€Å"Justice Is about harmony,† compared to â€Å"revenge Is about making yourself feel better. At the end, Bruce rejects Ducat's definition of Justice and tells Rachel she was right: â€Å"Justice Is about more than revenge. † However the man who murdered Brace's parents was killed but not by Bruce. Falcon says that the power of fear Is the kind batman essay By mathematical hinge that he is punishing criminals for, so instead of falling to the dark, and twisted path, he flees the League of Shadows, leaving a destroyed â€Å"DODOS' behind him; a path corrupted Gotcha, a place his father had set to save, was now in the hands of Bruce Wayne, the Batman.Batman brought the fear to people like Falconer and Dry. Crane and he saved many people from thugs that infected the city throughout. The Bat's idea of Justice was to save people, and maybe reach a peace in his heart from a life wasted, sitting in the type of rot his father always wished to cure Gotcha of. Henry Ducal tells Bruce that Justice is balance: an eye-for-eye and tooth-for-tooth. As an parents because they deserved Justice.Rachel says that there is a difference between Justice and revenge: â€Å"Justice is about harmony,† compared to â€Å"revenge is about making yourself feel better. † At the end, Bruce rejects Ducat's definition of justice and tells Rachel she was right: â€Å"Justice is about more than revenge. † However the man who murdered Brace's parents was killed but not by Bruce. Falcons says that the power of fear is the kind

Building a Peanut Butter and Jelly

Building a Peanut Butter and Jelly Free Online Research Papers Peanut butter and jelly sandwiches may be one of the most popular sandwiches that comes to mind once the question is asked, â€Å" What was your favorite sandwich growing up as a child† Many may not know that the origin of this PBJ sandwich has yet to be determined. However, what is known is that in World War II soldiers where given Peanut butter and jelly in their food rations. Many say that the soldiers combined the peanut butter to the jelly because that made it easier to eat. This sandwich is now eaten by many, young and old. There are six easy steps to create and enjoy this sandwich. First, you will need to find the right bread. White bread is traditional but it isnt sturdy and the jelly soaks through. In addition, white bread is extremely processed and lacks vitamins why not make this delicious and healthy? Multigrain adds its own flavor that complements the sweetness of the jelly and peanut butter. Whole wheat is healthiest option. Make sure the bread is 100% whole wheat flour, not 100% enriched whole wheat flour. Next, choose your peanut butter. Youll need to decide between chunky or smooth. Chunky can often be harder to spread, as it can tear the bread. But it does add a nice crunch. Then, choose your jelly. Common options include grape jelly, strawberry jelly or raspberry jelly. The adventurous might chose apple jelly. Meanwhile, get a good amount of peanut butter on a knife or spoon (this amount varies with your personal preference) and spread it out evenly onto one of the slices of bread. Wipe any residual peanut butter from the knife onto the second piece of bread. Next soon after, Scoop some jelly onto the other slice of bread. Again, the amount is up to you, but when in doubt, use less rather than more. Jelly tends to squeeze out the edges and drip if you use too much. Make sure to spread the jelly evenly. Immediately after, gently press the two slices of bread together. Always put the peanut butter side on top of the jelly side because the jelly will fall off. Finally, cut your sandwich. This could be in half crosswise into two congruent triangular slices, in half across the shorter width into two rectangles, into fourths either of these directions, or into as many pieces as you wish. One more thing- since peanut butter is sticky; youll need a tall glass of milk or a glass of water to help wash your sandwich down. Research Papers on Building a Peanut Butter and JellyPersonal Experience with Teen PregnancyThe Spring and Autumn19 Century Society: A Deeply Divided EraThe Hockey GameResearch Process Part OneMarketing of Lifeboy Soap A Unilever ProductCapital PunishmentHip-Hop is ArtWhere Wild and West MeetEffects of Television Violence on Children

House Fly essays

House Fly essays The housefly is a very widely known insect. To most people it is just a pest. To many insects, it is a source of food. In many ways the housefly is a pest, but in many others ways it is beneficial. The fly has a head, thorax, and abdomen. It is furry with big compound eyes. Its 2 wings are so thin you can see the veins in them. It has a sucking mouth part. It is black with gray stripes, and on the side are air holes called spiracles. These are used for breathing. The fly is located everywhere except for extreme temperature places. It will eat any food or garbage. It even eats poo. They carry diseases such as malaria. It lays them when it lands on something. There are 4 stages of life. First the adult female will lay up to 250 eggs at once in the water or on the ground. Then the larva, called maggots, hatches from the egg. They just eat so they can grow. Then come the pupa. It goes inside a cocoon for 3-6 days. It gradually looses its outer skin. Then when it is done it becomes an adult fly. It will live for about 3-4 weeks during the summer. Now it will find a mate and reproduce sexually. Then the cycle will begin again. I think that the fly is very important for the other insects that eat it and survive off of it. But I also think, like most people, that the fly is one of the most annoying insects ever. ...

The ballad of the sad cafe

The ballad of the sad cafe The Ballad of the Sad CafÂÆ'Â ©The Ballad of the Sad CafÂÆ'Â ©, is a very descriptive passage that portrays a small town in which used to be a cafÂÆ'Â ©. Carson McCullers, the author of this passage, uses a great deal of imagery to paint the proper picture of the setting and the character. Though the passage is brief, it gives the reader a detail explanation of what is going on in the plot. It starts in the present but then it flashes back to when Miss Amelia ran the cafÂÆ'Â © and the town was a happier place. Now Miss Amelia can be seen in the old boarded cafÂÆ'Â ©, looking down at the town. Her appearance is described as ghostly and of someone that has been forgotten. Throughout the passage, McCullers uses setting, characters, and imagery to illustrate the story of The Ballad of the Sad CafÂÆ'Â ©.In the beginning of the passage, the reader is introduced to the setting of the story, a small town.Cafe Terrace at Night"The town itself is dreary; not much is there except th e cotton mill, the two-room houses where the workers live, a few peach trees, a church with two colored windows, and a miserable main street only a hundred yards long." As McCullers opens this passage, you can almost picture a dead town. As the author describes it, it is not a very happening place. He explains that there are only two room houses, where the workers in the area live. This may be depicting that many people do not live here anymore. A guess would be that maybe after the cafÂÆ'Â © was shut down, many people moved out of the area because of the lack of a functioning society. McCullers goes on to explain the town: "If you walk along the main street...

Why didn't the member states of the EU (European Union) simply create Essay

Why didn't the member states of the EU (European Union) simply create a United States of Europe after the Second World War - Essay Example By the time the war had finished, much of the continent lay in ruins. How was Europe to rebuild? This was a question on many peoples' lips after 1945. Some thought a massive federalist state, similar to the United States was the solution. Europeans could pool their wealth and have a single government. That idea fizzled. There was still too much distrust in the immediate post-war period for a United States of Europe to be created. What Europe chose to do instead was slowly, piece by piece, assemble a common market that would eventually keep the door open to a more federalist option some time in the future. Although some Europeans would have liked to have seen a federalist state in the aftermath of the war, there was simply too much distrust. On top of that, foreign armies occupied much of Germany. Each European countries priority was the rebuild itself before engaging on any political or economic experiment. The British scholar Alan Milward argues that the EC's founding fathers intend ed for their states to maintain sovereignty in the system. They did not want a federalist state. They felt that they should bind themselves together not to create a super-state but to compete in the international economy. In a sense, the initial institutions of the EC were designed to preserve national autonomy. As Dr. Milward said in his book The European Rescue of the Nation-State, "The reinvigorated nation-state had to choose the surrender of a degree of national sovereignty to sustain its reassertion . . .† (Milward 1992). The truth is that the people of Europe at this stage were still too nationalistic. They had survived a war that had hammered home their national identities. The heroes of the various resistance movements had all represented pure national ideals, and these men and women were heroes well into the 1950s. The truth is that the founding fathers of the EU were looking to maximize their trading power, not their political power. They wanted to regionalize Europe , not turn it into the United States. Over the years, regionalization has done a great deal to improve business productivity. It has generate wealth and been responsible for a great deal of social development. The leaders of the EU/EC were right to pursue it as the same can be said of the economic integration accomplished by Europe over the last twenty years. The comparative advantages Europe possesses were then main thing to be exploited, not the creation of a superstate (Case 1999). What a single country can do well, it often can do better with the help of its neighbours and friends. But there is much to be said for an integration that stops just short of federalism: this kind of integration is not just about economics: it is also about the cultural and social shifts that follow in the way of reducing tariffs, striking down boundaries and easing travel and communication. You do not need a federal state to do all of this, many Europeans believe. It is possible to create something d ifferent. That was the Europe many were satisfied with up until the 1990s. But then the push came for political reforms and more power being centralized in Britain. In a sense this was a betrayal of the founding father who always say a role for autonomous states at the heart of Europe. They did not want to create a United States of Europe and they knew that over-reach or excessive expansion can cause serious problems to under-developed institutions (Duff 2009). Changes involving integration need time. Today, as the EU looks to its frontiers, the temptation to expand is still there, but patience is need (Kaid 2008). The gains made by economic integration have worked wonders to increase economic integration, but they also bring risks which need to be considered too by policymakers. The United States of

Inadequacies of accounting ratios as tools of financial analysis Essay

Inadequacies of accounting ratios as tools of financial analysis - Essay Example The multi-discriminant analysis and methodologies involving ratio disaggregation or decomposition such as DuPont analysis are commonly used as well for the purpose of financial analysis. Any user of financial statements must comprehend the limitations associated with ratio analysis. Ratios are attractive as they are simple and convenient. The ratios can only be as relevant as the data upon which they are based and the information with which they are compared. One glaring limitation of ratios is that they are based on historical cost convention, which can lead to limitations in measuring performance. By not incorporating information on changes in price, inaccurate assessments of the enterprise's financial condition and performance result. Also, all users must keep in mind that where estimated items (such as depreciation and amortization) are large and significant, income ratios lose some of their credibility. Income recognized before the end of the life of the business is just an approximation. In analyzing the income statement, the user should be aware of the various assumptions used in the computation of net income. As one writer aptly noted, "The physicist has lon g since conceded that the location of an electron is best expressed by a probability curve. Surely an abstraction like earnings per share is even more subject to the rules of probability and risk." (Cheney, 1971) Probably the greatest pitfall of ratio analysis is the difficult problem in achieving comparability of firms in a given industry. Achieving comparability among firms requires that the ratio analysis (1) identifies the basic differences existing in their accounting principles and procedures and be (2) flexible enough to adjust the balances (modify the raw data) to achieve comparability. In any peers group ratio analysis it is important to compare ratios to the industry average ratios to see how one company compares to its competitors or even to compare with similar companies or within industries. In US one often uses Standard Industrial Classification (SIC) or North American Industry Classification System (NAICS) codes as part of peer ratio analysis. Majors like Dun and Bradstreet provides "average" ratio levels for firms in a number of different industries. Deviation from the "industry norm" by a firm may indicate one of the following: 1) a strength in the firm, 2) a weakness in the firm, or 3) a difference in the operating characteristics between the firm and the "industry norm." One must realize that a ratio that is higher than the norm is not necessarily better. This is obviously true for the debt-equity ratio and perhaps less obviously true for the current ratio. A current ratio that is too low may indicate that the firm is not able to raise cash easily; a current ratio that is too high may indicate that the firm is not investing its funds in the most profitable assets (fixed asset investment is often more

UAE Free Trade Zones Research Paper Example | Topics and Well Written Essays - 1750 words

UAE Free Trade Zones - Research Paper Example They advance fiscal improvement by drawing investment and creating employment and overseas exchange income. Without a doubt, the zone conception is so dominant, that to a greater extent nations are distinguishing a novel exemplar of Free Zones. Whilst the old Free Zone was time and again illustrated as stationary, labor-demanding, motivation driven, the novel zone model is a dynamic investment demanding, one that is administration driven, facilitating an incorporated fiscal development device. In the UAE, the initial Free Zone at Jebel Ali came into being in 1985 and made available intercontinental businesses and firms a focus, which linked the East and the West and stretched out the prospects of their maneuvers (UAE Government, 2008). Nowadays there are over 24 Free Zones in the UAE offering first-rate amenities and communications for carrying out business and most significantly are industry detailed in nature. Abu Dhabi Airport Free Zone The Airports Company of Abu Dhabi is setting up Abu Dhabi Airport Free Zone also referred to as ADAFZ. It is a commerce and logistics park, to be functioned as a free zone (UNDP, 2002).With Abu Dhabi having the largest population in the UAE, as shown in the chart below, it becomes suitable for setting up of the Free Trade Zone. Figure 1: UAE population figures by the Emirates Source: http://adafz.ae/images/adafza-brochure.pdf Every justifiable logistics actions apart from banking are permissible in the park, conditional on the observance to the surroundings, health and safety necessities. As the park is located near the suburban region, all actions ought to be friendly to the environment. An investor ought to encompass a let out amenity to acquire the license to work from the park. There are straightforward and proficient measures for handling of cargo and authorization. ADAFZ is working together closely with Ports Company of Abu Dhabi for haulage of commodities from the park. There are no explicit restrictions of labor. Howe ver, the visa will be given out founded on the approval of the government. Once the imbursement is completed in conjunction with the obligatory credentials, the registration will take just two days of work. Corporations can let out offices, plots of land or Industry of Light Units founded on accessibility. A corporation can contain multiple amenities (Kemp, 2002). All services are priced as per usage by the confined giver. Numerous business sectors are being persuaded, a number of them being, Logistics, cargo & freight, Aviation & aerospace Electronics, Computers, internet and IT Electrical, Consultancy and business development, medical equipment, Telecom, express transportation, and pharmaceuticals. ADAFZ offers three sorts of commerce licenses; license of trade, license of service and an industrial license (Mustafa, 2002). FTZ1-Positive Contributions to the UAE This trade park provides the clientele with a dynamic overcrowding, an environment that is free. They proffer rapid and p roficient clearance cargo services. Entry to the apron of the airport in addition to global shipment forward, and agencies of cargo clearance is readily obtainable. Onsite inspection amenity of cargos is given. ADAFZ offers all inclusive shop resolution for every investor necessities and overhauls (UNDP, 2003). The amenities can be obtained daily with online client support scheme. A variety of services such as commerce registration, certification, letting, member of staff

Europes power is inevitably declining relative to other powers Essay

Europes power is inevitably declining relative to other powers - Essay Example The most applicable technique used to determine this phenomenon is to pose an overarching question, which enables the placement of Europe in an intelligible conceptual milieu: When does a super power cease to be â€Å"super†? This question obliges the re-interrogation of superiority, power and decides, as well as revalidation of historical perspectives, which underpin the current disquiet concerning the shifting international order. In Europe, concerns regarding its superiority, decline and power continue to be a staple component of popular and scholarly discourse, but they are rising in intensity because of current financial crisis experienced in Europe. Europe’s power is inevitably declining as the individual states, as well as their societies and production systems continue to decline. The military and economic criterion explores a nation or region’s capacity to fit the description of greatness or superiority. Military power has a notable economic basis since heavy defense spending has significant effects on a nation’s or region’s economy. Europe’s decline is perhaps most notable in international politics, and these effects emerged with stark clarity in the events concerning the Balkan crises, as well as the war in Iraq. In the case of the Iraq war, Europeans only watched helplessly as the senseless war, which they did not even desire, transpire and had to sustain a substantial share of the mammoth costs generated by the war. It is quite evident that Europe no longer carries any significant weight on the topic of international politics and is currently subject to the US’ hegemony (Rifkin 112). This reality became quite apparent at the end of the World War 2 and the Cold War. Notably, the hegemony of the US had a prominent rival in the USSR, which prevented Europe from feeling dominated by the US. US’ subtle domination of Europe gave Europeans the inaccurate sensation that they were making contributions to the realization of a joint project and defense of shared values. Today, the danger lies not in USSR domination but in terrorism, funded by fundamentalist Islamic groups whose networks extend throughout the world. Today, American hegemony does little to guarantee European security in light of this danger. It is evident that Europe could play a pivotal role in eradicating terrorism at grass root level, favoring economic development, unity and a democratic evolution Middle Eastern and North West African country with which Europe enjoys positive relations. This positive relationship is characterized by Europe’s geographical proximity, as well as close interdependence with nations in the region. However, Europe’s impotence prevents it from playing its role effectively in this area and other sensitive global regions (Manners 238). As a consequent, Europe finds itself more and more often, serving to make up the numbers that create international equilibrium while new actors such as India, China and Brazil enter the world and old actors such as Russia make an unmistakable comeback. Europe is rapidly exiting the scene as it continues to count for less than other powers in terms of strategic calculations regarding international events. On the other hand, Europe is inevitably declining on the economic front. This is notable in the declining trend experienced by the leading eurozone countries, which are currently showing, relative to their GDPs, relatively weak and negative growth trends. Unemployment rates in most European nations are current sky high. The countries’ production systems are inevitably becoming unable to fend off the

Finance Essay Example | Topics and Well Written Essays - 1500 words - 2

Finance - Essay Example Because currency exchange rates fluctuate on a daily (minute-to-minute) basis, clean and easy apples-to-apples comparisons of U.S. dollars to Euros or Yen may not be possible, especially with systems that deal with data on an intraday basis. Tracking the profitability of products in varying markets will fall short of expectations unless data stores and currency tables that contain detailed exchange rates and valuation dates are properly integrated into the general warehouse or operational data store. Many currencies will be tracked against other currencies - the simplest being home currency versus the single currency of the trade/deal/transaction - using parallel fields for each denomination in the appropriate warehouse tables. Thus, if a transaction took place in Japan (in Yen), multiple fields that represent the event would have both U.S. dollars and Yen denominations that communicate up-to-date or restated exchange rates. The business firm must also be aware that the location of t he transaction does not always unequivocally define the currency of the transaction. Many financial events such as currency swaps and spots will fall into this category, making it more laborious to correctly portray the financial picture of the business. Unexpected changes in the values of foreign currencies can affect the profitability of doing business internationally by unexpectedly changing the home currency value of future foreign currency-denominated cash inflows and outflows. This implies that organizations will need to consider implementing foreign exchange â€Å"hedging† strategies to mitigate the adverse consequences of unexpected and profit-reducing exchange rate changes. Suffice it to say that organizations may wish to seek the assistance of available expertise in the banking or brokerage communities to design and implement a foreign

Europes power is inevitably declining relative to other powers Essay

Europes power is inevitably declining relative to other powers - Essay Example The most applicable technique used to determine this phenomenon is to pose an overarching question, which enables the placement of Europe in an intelligible conceptual milieu: When does a super power cease to be â€Å"super†? This question obliges the re-interrogation of superiority, power and decides, as well as revalidation of historical perspectives, which underpin the current disquiet concerning the shifting international order. In Europe, concerns regarding its superiority, decline and power continue to be a staple component of popular and scholarly discourse, but they are rising in intensity because of current financial crisis experienced in Europe. Europe’s power is inevitably declining as the individual states, as well as their societies and production systems continue to decline. The military and economic criterion explores a nation or region’s capacity to fit the description of greatness or superiority. Military power has a notable economic basis since heavy defense spending has significant effects on a nation’s or region’s economy. Europe’s decline is perhaps most notable in international politics, and these effects emerged with stark clarity in the events concerning the Balkan crises, as well as the war in Iraq. In the case of the Iraq war, Europeans only watched helplessly as the senseless war, which they did not even desire, transpire and had to sustain a substantial share of the mammoth costs generated by the war. It is quite evident that Europe no longer carries any significant weight on the topic of international politics and is currently subject to the US’ hegemony (Rifkin 112). This reality became quite apparent at the end of the World War 2 and the Cold War. Notably, the hegemony of the US had a prominent rival in the USSR, which prevented Europe from feeling dominated by the US. US’ subtle domination of Europe gave Europeans the inaccurate sensation that they were making contributions to the realization of a joint project and defense of shared values. Today, the danger lies not in USSR domination but in terrorism, funded by fundamentalist Islamic groups whose networks extend throughout the world. Today, American hegemony does little to guarantee European security in light of this danger. It is evident that Europe could play a pivotal role in eradicating terrorism at grass root level, favoring economic development, unity and a democratic evolution Middle Eastern and North West African country with which Europe enjoys positive relations. This positive relationship is characterized by Europe’s geographical proximity, as well as close interdependence with nations in the region. However, Europe’s impotence prevents it from playing its role effectively in this area and other sensitive global regions (Manners 238). As a consequent, Europe finds itself more and more often, serving to make up the numbers that create international equilibrium while new actors such as India, China and Brazil enter the world and old actors such as Russia make an unmistakable comeback. Europe is rapidly exiting the scene as it continues to count for less than other powers in terms of strategic calculations regarding international events. On the other hand, Europe is inevitably declining on the economic front. This is notable in the declining trend experienced by the leading eurozone countries, which are currently showing, relative to their GDPs, relatively weak and negative growth trends. Unemployment rates in most European nations are current sky high. The countries’ production systems are inevitably becoming unable to fend off the

Evironmental factor paper Essay Example | Topics and Well Written Essays - 750 words

Evironmental factor paper - Essay Example Domestically, Coca-Cola has designed a line of merchandise that features polar bears and many of these items are collectible. In fact, Coca-Cola paraphernalia has been a nostalgic collectible for several years as there are people all over the world hunting down items that are vintage but boast the company’s name and logo. It is all a means of advertisement and promotion but has been popular for several decades. It has become a leader among branding and includes the bottling of more than just Coca-Cola but also soft drinks and Vitaminwaters so to appeal to not only those whom drink soda, but also for those who wish to drink decaffeinated beverages and other non-carbonated drinks. Some of the environmental practices that could greatly impact the Coca-Cola company is that some people simply live in third world countries and may not have access to their products. This company does not necessarily target them as a priority audience but does its best to sponsor worldwide events which gain a lot of global attention such as the Olympic Games in which they have been corporate sponsors of the events on several different occasions. This familiarizes the entire world with the brand. Additionally, as chain restaurants such as McDonald’s has grown and become a global fast food chain, the company serves Coca-Cola beverages in their soda machines. This means that for anyone who orders a fountain drink at any location around the world, McDonald’s is under contract to serve Coca-Cola drinks. If one were to travel abroad, they might be interested to find that the formula of Coca-Cola is different in various different locations. In some parts of the world, the drink is sweeter than it is in other regions while in other areas of the world, the level of carbonation is also different as I have discovered this on my own, having ordered Coca-Cola products in other countries and the tastes are significantly different among a wide spectrum of

Clearwater Technologies Essay Example for Free

Clearwater Technologies Essay Clearwater set a per-seat manufacturers suggested retail price (MSRP) that decreased with higher quantity seat purchases, reflecting the customer perception of declining manufacturing cost per seat. Clearwater also saw this as advantageous because it encouraged customers to maximize their initial seat purchase. Clearwater typically sold its products through value-added resellers (VARs). A VAR was typically a small local firm that provided sales and support to end users. The value added by these resellers was that they provided a complete solution to the end user/customer from a single point of purchase and had multiple information technology products available from various vendors. Using VARs reduced Clearwaters sales and service expense significantly and increased its market coverage. These intermediaries operated in several steps. First, the VAR combined the QTX from Clearwater with database software from other suppliers to form a turnkey customer solution. Second, the VAR loaded the software with customer-specific information and linked it to the customers existing sales history databases. Finally, the VAR installed the product at the customers site and trained the customer on its use. Clearwater sold the QTX to resellers at a 50 percent discount from the MSRP, allowing the VARs to sell to the end user at or below the MSRP. The discount allowed the VARs room to negotiate with the customer and still achieve a profit. The Upgrade Initially, the expectation had been that the 30-seat unit would be the largest volume seller. In order to gain economies of scale in manufacturing, reduce inventory configurations, and reduce engineering design and testing expense to a single assembly, Clearwater decided to manufacture only the 30-seat server with the appropriate number of seats enabled for the buyer. Clearwater was effectively giving away extra memory and absorbing the higher cost rather than manufacturing the various sizes. If a customer wanted a 10-seat server, the company shipped a 30-seat capable unit, with only the requested 10 seats enabled through software configuration. The proposed upgrade was, in reality, allowing customers to access capability already built into the product. Clearwater knew that many original customers were ready to use the additional capacity in the QTX. Some customers had added seats by buying a second box, but because the original product contained the capability to expand by accessing the disabled seats, Clearwater saw an opportunity to expand the product line and increase sales to a captive customer base. Customers could double or triple their seat capacity by purchasing either a 10- or a 20-seat upgrade and getting an access code to enable the additional number of seats. No other competitor offered the possibility of an upgrade. To gain additional seats from the competitor, the customer purchased and installed an additional box. Because customers performed a significant amount of acceptance testing, which they would have to repeat before switching brands, the likelihood of changing brands to add capacity was low. The objective of this mornings meeting was to set the price for the two upgrades. As QTX product manager Rob Erickson stopped to collect his most recent notes from his desk, he reflected: What a way to start the week. Every time we have one of these meetings, senior management only looks at margins. I spent the whole weekend cranking numbers and Im going in there using the highest margin weve got today. How can anybody say thats too low? He grabbed his notes, calculator, and coffee and headed down the hall. From the other wing of the building, financial analyst Hillary Hanson was crossing the lobby towards the conference room. She was thinking about the conversation she had late Number MSRP to VAR Unit Unit of Seats End User Price Cost* Margin** 10 $8,000 $4,000 $500 87. 5% 20 $14,000 $7,000 $700 90. 0% 30 $17,250 $8,625 $900 89. % TABLE 1 *Unit cost reflects additional $200 for memory capability for each additional 10 seats. **Margin _ VAR Price _ Unit Cost VAR Price Number Original Original Actual Actual of Seats Unit Cost Unit Margin Unit Cost Unit Margin 10 $500 87. 5% $900 77. 5% 20 $700 90. 0% $900 87. 1% 30 $900 89. 6% $900 89. 6% TABLE 2 Friday afternoon with her boss, Alicia Fisher, Clear waters CFO. They had been discussing this upcoming meeting and Alicia had given Hillary very clear instructions. I want you to go in and argue for the highest price possible. We should absolutely maximize the profitability on the upgrade. The customers are already committed to us and they have no alternative for an upgrade but with us. The switching costs to change at this point are too high since theyve already been trained in our system and software. Lets go for it. Besides, we really need to show some serious revenue generation for the year-end report to the stockholders. Hillary had not actually finalized a number. She figured she could see what the others proposed and then argue for a significant premium over that. She had the CFOs backing so she could keep pushing for more. From the parking lot, Brian James, the district sales manager, headed for the rear entrance. He, too, was thinking about the upcoming meeting and anticipating a long morning. I wish marketing would realize that when they come up with some grandiose number for a new product, sales takes the hit in the field. Its a killer to have to explain to customers that they have to pay big bucks for something thats essentially built in. Its gonna be even tougher to justify on this upgrade. At least with the QTX, we have something the buyer can see. Its hardware. With the upgrade, there isnt even a physical product. Were just giving customers a code to access the capability thats already built into the machine. Telling customers that they have to pay several thousand dollars never makes you popular. If you think about it, thats a lot of money for an access code, but you wont hear me say that out loud. Maybe I can get them to agree to something reasonable this time. I spent the weekend working this one out, and I think my logic is pretty solid. Price Proposals Once everyone was settled in the conference room, Rob spoke first: I know we have to come up with prices for both the 10-seat and 20-seat upgrades, but to keep things manageable, lets discuss the 20-seat price first. Once that number is set, the 10-seat price should be simple. Because the margin on the 30-seat unit is the highest in the line, I think we should use that as the basis to the price for the upgrade. He went to a whiteboard to show an example: If a customer is upgrading from a 10-seat unit to a 30-seat unit, they are adding two steps of capacity costing $200 each to us, or $400. $400 /1-0. 90 _ $4,000 to the reseller, and $8,000 to the end user. We keep the margin structure in place at the highest point in the line. The customer gets additional capacity, and we keep our margins consistent. He sat down feeling pleased. He had fired the first shot, had been consistent with the existing margin structure, and had rounded up the highest margin point in the line. Brian looked at Robs calculations and commented: I think thats going to be hard for the customer to see without us giving away information about our margins, and we dont want to do that, since they are pretty aggressive to begin with. However, I think I have solved this one for us. Ive finally come up with a simple, fair solution to pricing the upgrade that works for us and the customers. He walked over to a whiteboard and grabbed a marker: If we assume an existing 10-seat customer has decided to upgrade to 30-seat capability, we should charge that customer the difference between what the buyer has already paid and the price of the new capacity. So . . . New 30-seat unit $17,250 Original 10-seat unit $8,000 Price for 20-seat upgrade $9,250 Its consistent with our current pricing for the QTX. Its fair to the customer. Its easy for the customer to understand and it still makes wads of money for us. It also is easy for the customer to see that were being good to them. If they bought a 20-seat box in addition to the 10-seat box they already have, it would be costing them more. He wrote: New 20-seat unit $14,000 A new unit provides customers with redundancy by having two boxes, which they might want in the event of product failure, but the cost is pretty stiff. Upgrading becomes the logical and affordable option. Hillary looked at the numbers and knew just what she was going to do. That all looks very logical, but I dont see that either of you has the companys best interests at heart. Brian, you just want a simple sale that your sales people and the customers will buy into, and Rob, you are charging even less than Brian. We need to consider the revenue issue as well. These people have already bought from us; are trained on our hardware and software and dont want to have to repeat the process with someone else. It would take too long. Theyve got no desire to make a change and that means weve got them. The sky is really the limit on how much we can charge them because they have no real alternative. We should take this opportunity to really go for the gold, say $15,000 or even $20,000. We can and should be as aggressive as possible. All three continued to argue the relative merits of their pricing positions, without notable success. Jefferies listened to each of them and after they finished, he turned to a clean whiteboard and took the marker. Ive done some more thinking on this. In order to meet the needs of all three departments, there are three very important points that the price structure for these upgrades must accomplish: 1. The pricing for the upgrades shouldnt undercut the existing pricing for the 30-seat QTX. 2. We want to motivate our buyers to purchase the maximum number of seats at the initial purchase. A dollar now is better than a potential dollar later. We never know for sure that they will make that second purchase. If we dont do this right, were going to encourage customers to reduce their initial purchase. Theyll figure they can add capacity whenever, so why buy it if they dont need it. That would kill upfront sales of the QTX. 3. We dont want to leave any revenue on the table when buyers decide to buy more capacity. They are already committed to us and our technology and we should capitalize on that, without totally ripping them off. Therefore, while Hillary says the skys the limit, I think there is a limit and we need to determine what it is and how close we can come to it. If we assume that those are the objectives, none of the prices youve put together thus far answers all three of those criteria. Some come close, but each one fails. See if you can put your heads together and come to a consensus price that satisfies all three objectives. OK? Heads nodded and with that, Jefferies left the conference room. The three remaining occupants looked at one another. Brian got up to wipe the previous numbers off the whiteboards and said: OK, one more time. If our numbers dont work, why not and what is the right price for the 20-seat upgrade?

Forever 21 Management Analysis

Forever 21 Management Analysis Solomon Mehari   Mission Statement The companys mission is to provide is to furnish customers with an unpresented determination of todays styles with moderate costs. Theyre known as continually changing and dependably in style. The proprietor is Christian and needs to impart this to his clients. History One of Americas most favored retailers, Forever 21 was set up as Fashion 21 in 1984 by a Korean foreigner in a little 900 sq. feet space. Today, shopping centers house the fashion giant in 9,000 square feet zone and their XXI lead stores are spread more than 24,000 square feet. Quick design retailer, Forever 21 works more than 600 stores under the Forever 21, XXI Forever, For Love 21, Heritage 1981, and Reference pennants. Always 21 offers mens and ladies apparel and extras. Stores can be found all through the U.S. furthermore, in Canada, Europe, Japan, Korea, and the Philippines. The organization is headquartered in Los Angeles, California. Stakeholders Employee: They are viewed as inside partners. As they work inside the organization, the representatives have an intrigue and impact the way it is run. In this manner, anyone who works for Forever21 is a partner. Customers: They are considered external stakeholders. They are slightly different from employees because they do not work for the corporation, however they buy products and services. So, they have an interest in Forever 21. Structure and Leadership Structure of Forever 21 Leadership Forever 21 has assumed control shopping centers over the world with its stock of popular garments at absolute bottom costs. The stores acquired $135 million in benefits in 2008, the last time the privately-owned business made its financials open. Whats more, the same number of retailers declare store terminations, Forever 21 keeps on growing. This month alone, the affix has declared arrangements to open two new areas: one in Rochester, Minnesota, and one in Santa Cruz, California. A great part of the organizations prosperity has originated from its interest to spending plan cognizant ladies in their youngsters and 20s. It utilizes the quick design demonstrate, getting new form patterns to stores as fast as it can, then offering at a low cost. Conventional retailers attempt to set up a brand with a mark look, so its impossible that others will attempt to duplicate Forever 21 subsequent to investing so much energy and exertion assembling their own brands. Furthermore, it just offers at tire for not as much as its adversaries do. forever 21 offers pants for as low as $15, where youngster retailers by and large begin at $30 for this imperative class, noticed the Bank of America investigators. Do won Chang (CO-Founder and Chief Executive Officer) With little more than a high school education, the young Korean couple came to the U.S. in 1981 in search for a better life. Husband Do Won, just 22 at the time, worked the morning shift at a coffee shop, pumped gas during the afternoon and started a small office cleaning business that kept him busy until midnight. Jin Sook, 25, toiled as a hairdresser, a skill she acquired back in her home country. While at the gas station, Do Won noticed that wealthy men in the garment industry drove the nicest cars, inspiring him to take a job at a clothing store, where he was determined to learn the ropes. I treated it like it was my own business, he told FORBES. After three years in the U.S., the couple pooled $11,000 in savings and opened a 900-square-foot apparel store in L.A. in 1984. Calling it Fashion 21, first year sales reached $700,000. It eventually became fast-fashion juggernaut Forever 21, which has $4.4 billion in revenue from 790 locations in 48 countries. But after years of expansi on the company appears to be facing some setbacks; sales have been flat and in the past year its reportedly paid some vendors late. Forever 21 denies any financial difficulties and says business remains solid. The devout couple, who goes to early morning prayer at a local church nearly every day, has the Bible verse John 3:16 printed on the bottom of the chains shopping bags. Jin Sook Chang (CO-Founder/President) After moving to the states from South Korea in 1981, Jin Sook Chang and her husband Don worked odd jobs to make ends meet. Three years later, the pair opened up their first clothing store, Fashion 21, a 900-square-foot shop in Los Angeles. The Changs expanded upon first year sales of $700,000 by opening new stores every six months, eventually changing the teen-focused retailers name to Forever 21. Today their fast-fashion clothing chain, which has been sued more than 50 times for copyright infringement, has $4.4 billion in sales, flat from year ago. It has closed some stores and was late to pay some vendors. But the company denies any financial difficulties, saying its business is solid and noting the planned opening of 67 more stores this year. Sook works as the chief merchandising with the help of her 2 daughters Ester and Linda, while her husband don is the CEO. Task Environments Social factures: forever21 has similar objectives of disposing of tyke and grown-up constrained work, and we are completely adjusted to the soul and reason for Responsible Sourcing Networks cotton vow. forever 21 has marked the cotton vow compelling October 7, 2016. forever 21s dedication to this issue is not new. Since 2013, Forever 21 has attempted to guarantee that none of its outsider sellers intentionally acquire their supply of cotton from Uzbekistan. Our Corporate Social Responsibility program incorporates the Forever 21 Vendor Audit Program. While large portions of our merchants have worked with Forever 21 for various years and are believed, all providers and sellers must give plant contact data and all industrial facilities must take an interest in the review program. Technological Factors: It reports the accessible techniques for changing or changing over assets into items and administrations. Notwithstanding, supervisors must be watchful about mechanical variables since they must be precise in new innovations and adjust to new condition to dispatch another item or to make a venture. Political / Legal Factors: It is alluded to the administration law of business (control and set the dos and donts), business-government relationship (It is vital to have great connection in business as far as economy) and the general political and legitimate circumstance of the nation (It demonstrates that positive circumstance where directors need to work with). Economic Factors: The economic dimension of an association is the general status if the financial framework in which the association works. The most vital monetary elements are loan fees, unemployment and swelling. These components bring issues for the interest for items. Since, if financing costs are high, purchasers will spend less; if the expansion is high, the organization they pay more for assets, and they need to expand costs to cover costs; and if the unemployment is high, shoppers purchase less on the grounds that there are few individuals working for the association. Organizational Culture At Forever 21 Inc. they have a most significant organizational culture, resource is the general population who work for organization. As a quickly developing claim to fame retailer, perpetually 21 appreciates a dynamic and quick paced working condition. They are a fun, adaptable, and vigorous gathering of individuals cooperating to make a novel charming condition. Cooperation is key when sharing the alternate points of view that permit the organization to develop. Whats more, perpetually 21 is focused on supporting differing qualities inside the organization and imparting this dedication to a group. Organizational Hero Do Won Chang open his first store in L. As. Highland Park neighborhood in 1984, calling it Fashion 21. As deals took off and the demographic developed past the Korean American people group, he changed the name to Forever 21. Different stores soon followed in the U.S. whats more, abroad, incorporating one in the Seoul neighborhood of Myung-Dong, where Chang grew up. The financial downturn constrained Chang to make a few cuts. The organization finished 2009 with seven less stores than the prior year. Still, income is climbing. In the last monetary year, Forever 21 posted $1.7 billion in deals. It anticipates income of $2.3 billion this year. A lot of that is from forceful extension Chang is peering toward Israel and Hong Kong, for instance. Similarly, critical is an expansive lineup. Notwithstanding Forever 21, the chain has seven different arrangements, each serving unmistakable types of shopping center rats, including XXI Forever, which concentrates on higher end couture lines, and Heritage 1981, highlighting vintage-styled garments. Success of Forever 21 Innovation: One vital thing recognizes Forever 21 from its fundamental rivals is its uniqueness. No dread that you will discover your colleague or companion in the same outfit from yourself, Forever 21 arranges little mounts and learns it customers to purchase promptly and not hold up till the following visit. Not purchasing implies gone. Consistently something new, that is additionally the saying of Forever 21. Get it now, or its gone is the productive and benefit creating arrangement of Forever 21. Evidently, Mrs. Chang, who is in charge of the gathering of Forever 21, surveys around 400 new outlines a day. The Changs understood that change is fundamental. The perfect idea for the empowering addicts era of today. No dead stock, development starts things out. Easy access and quality: Without any things above $60, Forever 21 is making style open to all and making itself a substantial potential market. They went from one to more than six possess brands, offering garments to children, men, additional vast and pregnant ladies. Everybody can bear to purchase something at Forever 21. Sustainability Forever 21 goes into an exhaustive concurrence with each of our sellers and their production lines under which they guarantee to use lawfully qualified laborers, pay them compensation which are reasonable and legitimate in their ward, and give a situation that follows their lawful necessities. Our understanding likewise covers issues of time off, free affiliation rights, nondiscrimination, ecological assurance and security, and forbids the utilization of constrained or slave work, youngster work. They have a profoundly prepared Vendor Compliance Team, which advances and upholds legitimate and moral operations at our outsider manufacturing plant destinations. The Team fulfills this implementation by leading assessments of our dynamic non-US Vendor producing offices on an arbitrary premise to guarantee The Vendor Compliance Standards are comprehended, regarded and taken after. We additionally visit most production lines before We contract them, to guarantee their office and operations meet with our models. After every manufacturing plant visit, the Vendor Compliance Team gives a composed assessment of the processing plant, including any activity things which may require revision before the following visit. We additionally do our best to give continuous data, guidance, and support on reasonable work, wellbeing and security, and related issues. The objective is to work with our industrial facilities to help them enhance and guarantee reliable consistence. In any case, if we find intense infringement or infringement which are not adjusted inside a sensible day and age after our remedial activity arrange has been issued, we may end that plant from our program. Forever 21 trust this procedure helps with guarding against potential hazardous conditions, working environment wounds or abuse, and furthermore brings about a general change in processing plant effectiveness and item quality principles. The Future of Forever 21 Since first opening its entryways 30 years back, Forever 21 has turned into a universally perceived brand. The organization has possessed the capacity to maintain a strategic distance from the battles of other youth-focused brands. It pulls in solid deals $4.6 billion worth in 2014, as according to Privco and hasnt needed to battle with a brand character like other teenager retailers. This most recent move is a piece of the organizations objective to end up distinctly a $8 billion organization inside the following two years and to have 600 stores the world over inside the following three years. Forever 21 right now works more than 680 stores in 45 nations. References http://www.forbes.com/forbes/welcome/?toURL=http://www.forbes.com/profile/jin-sook-chang/refURL=https://www.google.com/referrer=https://www.google.com/ http://articles.latimes.com/2010/jul/31/business/la-fi-himi-chang-20100731 https://successstory.com/people/do-won-chang http://moneyinc.com/do-won-chang-facts/ http://www.forever21.com/Htmls/CustomerService/en-US/socialresponsibility.html?5/11/2014 http://goodonyou.org.au/the-ethics-of-fast-fashion-uniqlo-topshop-and-forever-21/

Beauty Behind The Brushstrokes Essay -- China Culture Art Papers

Beauty Behind The Brushstrokes Chinese calligraphy, the ancient Chinese art of writing, has been around for as long as the history of China. Through thousand of years of evolution, many styles and forms have been developed and established, namely the zhuan, li, kai, xing and cao styles (shu). Different styles express different personalities and are used for different purposes and at different times. But the underlying beauty of Chinese calligraphy, regardless of its style, lies in its expression of thoughts and feelings of the calligrapher and ultimately, the spontaneous response from the viewer's mind. However, these styles, with different degrees of variation in forms, possess varied levels of expressiveness. The different level of expressiveness lies in the varaition of forms and the degree of variation. Zhuan shu and li shu are mainly for official writings and zhuan shu is the precedent of li shu. Li shu follows a certain strict prescription with minimal variations in the writings, and hence it is not very capable of expressing the thoughts and feelings of the calligrapher. However it is not until the materialization of li shu that this ancient form of writing can be considered as an art form with the capability of expressing ones feelings and thoughts, due to its flexibility and indefinite forms. Kai shu evolves from these two precedents and is the most commonly used style today due to its regular forms and legibility. However due to its slightly stricter prescription, it allows fewer variations and hence is less capable of exuding the calligraphers emotions and personalities. But with an injection of "motion" or flow in kai shu, the words become more fluid and indefinite. Such style i s named xing shu, which is more ... ...of thoughts and feelings, which are all merely preludes, lies the climax of the symphony of Chinese brushstrokes- the silent dialogue between human minds and their surroundings. Works Cited S.H Khoo and Nancy L. Penrose. Behind the Brushstrokes: Tales from Chines Calligraphy. Singapore: Graham Brash Pte Ltd, 1993. Jean Francoise Billeter. The Chinese Art of Writing. New York: Rizzoli International Publication, Inc, 1990. A.H Maslow. Towards a Psychology of Being. New York: John Wiley and Sons, 1968. Sartre, Jean-Paul. "Why Write?" In Critical Theory Since Plato ed. Hazard Adams. New York: Harcourt Brace Jovanovich, Publishers, 1971. Best, David. The Rationality of Feeling: Understanding the Arts in Education. London: The Falmer Press, 1992. Abstracted Works of calligraphy Chiang Yee. Chinese Calligraphy. Singapore: Graham Brash, 1938

Ernest Hemingway and Hollywood Essay example -- Biography Biographies

Hemingway and Hollywood "I try, when I'm writing a screenplay from somebody's original work, to be as faithful to it as I can be, within the limitations of a screenplay and remembering that the novel medium and the screen medium are entirely different" -Screenwriter, Casey Robinson, (Laurence 12). Hollywood attempted twice, but it still could not produce a film adaptation of A Farewell to Arms that Hemingway considered to do literary justice to his classic novel. The first effort was in 1932 when Paramount producer Frank Borzage used ridiculous publicity stunts to lure audiences, such as sending letters to women stamped REJECTED BY CENSORS. They read: Dear Madam: War-time! Suppose you were alone in a dark, drab, Swiss hotel room! In a few weeks you were to become a mother-and the man you loved was miles away-on the shell-torn Italian front. You write letter after letter to him-twenty one of them-and they are all returned stamped REJECTED BY CENSOR: This is just one of the dramatic situations in Ernest Hemingway's A Farewell to Arms, which comes to the _____ Theater on ___ (date). As you read in the novel, you'll see A Farewell to Arms on the screen! (Laurence 42-3). This was just one of the many shameless ploys Hollywood used over the years to exploit the celebrity status of the revered author; however "the effectiveness of such a publicity piece depended on the recipient's not having read the book-else they would recognize that no such situation exists in the novel" (43). Studios knew what they had to do get the ratings they sought; it was gratifying for the public "to believe that going to a movie was as good as reading a book" (43). By the time devoted Hemingway readers saw the film ... ... Arms he once said "(they did not ) also get the right to my sanction of the picture version" (Laurence 44). Despite the sum of money he made, Hemingway suggested "that the best way for a writer to deal with Hollywood was to meet the producers at the California state line: 'You throw them your book, they throw you the money. Then you jump into your car and drive like hell back the way you came" (Oliver "A Hemingway Retrospective") Works Cited: Laurence, Frank. Hemingway and the Movies. Jackson: University Press, 1981. Oliver, Charles ed. A Moving Picture Feast: The Filmgoers Hemingway. New York: Praeger 1989. Oliver, Charles. "A Hemingway Retrospective: Hemingway and Hollywood." http://www.cnn.com/SPECIALS/books/1999/hemingway/stories/hollywood/ http://mason-west.com/Hemingway/films.php: Films based on the works of Ernest Hemingway. Ernest Hemingway and Hollywood Essay example -- Biography Biographies Hemingway and Hollywood "I try, when I'm writing a screenplay from somebody's original work, to be as faithful to it as I can be, within the limitations of a screenplay and remembering that the novel medium and the screen medium are entirely different" -Screenwriter, Casey Robinson, (Laurence 12). Hollywood attempted twice, but it still could not produce a film adaptation of A Farewell to Arms that Hemingway considered to do literary justice to his classic novel. The first effort was in 1932 when Paramount producer Frank Borzage used ridiculous publicity stunts to lure audiences, such as sending letters to women stamped REJECTED BY CENSORS. They read: Dear Madam: War-time! Suppose you were alone in a dark, drab, Swiss hotel room! In a few weeks you were to become a mother-and the man you loved was miles away-on the shell-torn Italian front. You write letter after letter to him-twenty one of them-and they are all returned stamped REJECTED BY CENSOR: This is just one of the dramatic situations in Ernest Hemingway's A Farewell to Arms, which comes to the _____ Theater on ___ (date). As you read in the novel, you'll see A Farewell to Arms on the screen! (Laurence 42-3). This was just one of the many shameless ploys Hollywood used over the years to exploit the celebrity status of the revered author; however "the effectiveness of such a publicity piece depended on the recipient's not having read the book-else they would recognize that no such situation exists in the novel" (43). Studios knew what they had to do get the ratings they sought; it was gratifying for the public "to believe that going to a movie was as good as reading a book" (43). By the time devoted Hemingway readers saw the film ... ... Arms he once said "(they did not ) also get the right to my sanction of the picture version" (Laurence 44). Despite the sum of money he made, Hemingway suggested "that the best way for a writer to deal with Hollywood was to meet the producers at the California state line: 'You throw them your book, they throw you the money. Then you jump into your car and drive like hell back the way you came" (Oliver "A Hemingway Retrospective") Works Cited: Laurence, Frank. Hemingway and the Movies. Jackson: University Press, 1981. Oliver, Charles ed. A Moving Picture Feast: The Filmgoers Hemingway. New York: Praeger 1989. Oliver, Charles. "A Hemingway Retrospective: Hemingway and Hollywood." http://www.cnn.com/SPECIALS/books/1999/hemingway/stories/hollywood/ http://mason-west.com/Hemingway/films.php: Films based on the works of Ernest Hemingway.

I’M Afraid of Getting Older

â€Å"I’m Afraid of Getting Older! † Are you afraid of getting older? Are you ready enough to face aging? Most of us think that â€Å"getting older† means having wrinkles, turning of hair color from black to white, receding hairline, visual blurring and a lot more horrifying physical changes in our body. We live in a world that is obsessed with looking young and beautiful. Faced with loss of youth, many of us feel profound fear, loneliness, and regret—which leads to the depressing idea that the best years of our lives are behind us. But, is getting older a truly scary dream visualized by most of the youth nowadays? Actually, getting older is not as frightening as it seems. We should come to understand that getting old and †¦ yes, even dying is all part of life. Nothing stops the march of time. We can't stop it, we can only accept it and be gracious about it. That is what we need to choose, accepting the fact that no one can stay young in his/her lifetime. Life is for living, giving and experiencing – We got to do all and as much to appreciate it. And who says that all of the elders (about the age of 60 and above) are sickly and worthless? There are tons and tons and tons of really healthy, financially stable, elderly people nowadays . It’s just all about the choices you make while you are still young. If you live an incredibly healthy life, make wise decisions with your finances and live life to its fullest while you're young, then its highly likely you'll do just fine in your later years. There are endless things for us to enjoy as we get older. One of this is the pleasure of being a grandparent. No grandparent can ever explain how happy and lucky it is to be one! Just keep in mind that human being is a reflection of The Triune God. We are made in His image in this way. The physical is the least important, so it is at the bottom. Next comes the soul (emotions, will, and mind). At the top is our spiritual. And yet it seems most of the time people are trying to improve the body and the mind! So for the people out there who are worried of aging, just keep in mind that the more you think of getting older, the sooner it gets! 🙂

Are Grades and Effective Means of Motivation? Essay

Believing: Grades are often seen to be one of, if not the most effective method of motivating a student to work to their fullest potential. For example, a student who receives an A-grade is going to be encouraged by the grade, as they see it to be an affirmation of their academic efforts. An A-student views their grade with pride, and will work very hard to maintain said grade, once achieved. An example of this is as follows. John recently received an A on his Math test. He then goes home with a sense of pride, bragging about it to all of his friends. John now realizes that he must keep up the good work and continue to work hard for school, in order to continue to feel as good as he does today. Conversely, a failing student will regard his/her grades with shame, and will be more motivated to raise their grade from the gutter as a result. An example of this is as follows. John receives an F for failing to complete an assignment on time. As a reaction to this, John decides that he will turn his life around completely and alter his studying habits so that he turns in his assignments on time in the future. In conclusion, grades are by all means the most effective way of motivating a student to excel. Doubting: Grades are the least effective way of motivating a student. This can be said with such certainty due to the very nature of grades themselves. They serve to rank students against each other. Personally, when I feel as though somebody is putting me up against a friend, I feel much less willing to work harder for the class than if they were to simply tell me what I needed to change in order to excel. The Whitehall Study, performed in England 1967, has shown us with certainty that humans placed in a competitive hierarchical situation over prolonged periods of time will increase their chances of gaining cardiovascular disease by 40%. This shows us that students placed under similar conditions (as they are with the grade system) are not only less motivated to work, but are also at risk of dying. Another important factor to consider when discussing high-school students and their academic achievements is that many of us are apathetic. This means that when we see a grade, we simply just don’t care about it and it doesn’t serve to motivate us one way or the other. This leads me to conclude that grades, when seriously considered by the student, are not only the least effective way of motivating students to do their best work, but are also a serious health concern. Reflection: This writing activity was unlike anything I had seen before. It challenged me to write from two entirely different perspectives, which is something very new to me. The main difficulty I faced with this assignment was the assignment itself. While it may seem redundant to say so, the assignment asked us to write about something from two polarized perspectives, and that was what challenged me the most. I found it easy enough to write the doubting response, as it is what I can most easily associate with. When it came to writing the believing response, I felt as though I was stuck. I stared blankly at my page for several minutes until I finally decided to ask an A-student what their perspective on the matter was. Doing so helped me greatly, as it broadened my mind and aided me in writing about something from an entirely foreign perspective. After completing this assignment I can honestly say that I am a more well-rounded person, as I find it easier to relate to what others are saying, even if it goes against every fiber of my existence. Believing and doubting helps me wallow in complexity by reminding me not to forget that there is a flip-side to what I am arguing at any given time, and I’ve caught myself thinking about a few of my foundational beliefs and how they can be contradicted by somebody with a different outlook on life. In conclusion, I believe that this assignment has helped me to understand that there are several other points of view to consider.

Addictions in the 21st Century Essay Example | Topics and Well Written Essays - 750 words

Addictions in the 21st Century - Essay Example The main trends incorporate internet surfing, pornography viewing, video gaming and social media. It can involve a single habit or a compilation of several habits within the same range. Addiction is experienced when the participants are constantly plugged into these devises. He states that anything else comes as a distraction. Alexander identifies the â€Å"tragically cool† group as the group that heavily relies on digital technology in their day-to-day life. Their daily interactions involve such activities; hence, they are the most prone to addiction. Indeed, Alexander’s assertions about addiction type 3 are valid. This is because of the increasing numbers of peoples checking into rehabilitative support groups, and the increased legal cases involving internet games addictions. An example was the litigation of the NCsoft Company, a manufacturer of video games. Smallwood sued the company because of his addiction to the Lineage II game. The case was not dismissed as a frivolous suit; thus, the judges found it valid to go through trial. Additionally, countries such as China and Korea consider video games addiction as the primary cause of health complications in their country. Moreover, Addiction 3 factors are gaining commendable attention from researches, medics and the legal world. There are more video game cases on litigation in the subsequent years. Online game producers are also compelled to display warning signs to the members. There are also compelled to derive safer methods to playing these games. Learning institutions and work places have installed devices to obstruct social sites and internet games. This is because of the perceived concern of the effects of internet addictions on time management and work quality. The human nature is viable to irrepressible compulsion thus everyone can easily be addicted. He asserts that addiction is an extrapolated human condition

SMEs in Chinas Textile and Clothing Industry Essay

SMEs in Chinas Textile and Clothing Industry - Essay Example Such situation is result from three reasons. Firstly, after China's entry of WTO, the firms in this industry are facing fierce competition from entry of foreign textile and clothing giant firms in domestic market. Secondly, the restriction from Europe and U.S. which are the main destination where Chinese clothing firms export has been published on June, 2005 (www.china.com. 2005). Finally, the recent appreciation of Chinese currency led to the decrease of export benefit; in other words, it increased the price of products in foreign market so as to reduce the product competitiveness of textile and clothing products exported. Therefore, regarding the serious situation they never met, it is essential to investigate and find out the most effective and successful way of exporting, especially for small- and medium- firms in China's textile and clothing industry. The main aim of this study is to investigate the export methods and their influence on performance of small- and medium- firms (SMEs) in China's textile and clothing industry. ... Such situation is result from three reasons. Firstly, after China's entry of WTO, the firms in this industry are facing fierce competition from entry of foreign textile and clothing giant firms in domestic market. Secondly, the restriction from Europe and U.S. which are the main destination where Chinese clothing firms export has been published on June, 2005 (www.china.com. 2005). Finally, the recent appreciation of Chinese currency led to the decrease of export benefit; in other words, it increased the price of products in foreign market so as to reduce the product competitiveness of textile and clothing products exported. Therefore, regarding the serious situation they never met, it is essential to investigate and find out the most effective and successful way of exporting, especially for small- and medium- firms in China's textile and clothing industry. 1.2 Objective of the Study The main aim of this study is to investigate the export methods and their influence on performance of small- and medium- firms (SMEs) in China's textile and clothing industry. With this purpose, the study is going to identify the export method that is most frequently used and preferred to employ by SMEs when they engage in international export activities; furthermore, will also try to explore the method that is the most effective and successful for SMEs to penetrate into foreign markets as judged by export performance, so as to provide some information which could be useful in companies decision-making about the future exporting and the factors deciding it. Specifically, the objective of this study can be concluded as follows, Investigating the difference of employed export method of SMEs in terms of different

Will the Mexican car company, Mastretta, ever reach the reputation Essay

Will the Mexican car company, Mastretta, ever reach the reputation that the current top car companies receive - Essay Example The report is due by the end of this month. 2.0 Procedure Comprehensive secondary research has been carried out to explore the issue and find relevant solutions for the same. The resources that have been mainly consulted are consumer brand awareness reports of the automobile industry and also reports pertaining to the automobile industry of Mexican automobile industry. 3.0 Findings 3.1 Industry Outlook Similar to the discovery of airplanes, the materialization of automobiles has a profound impact on the everyday life of human beings. The automobile industry is critical constituent in the fabric of global economy (Kazmi 6). The global automobile industry enormously contributes to the wealth and health of millions of inhabitants of the world. Hence, it is important that the automotive sector retain its innovative edge and competitiveness. It has been found that the auto manufacturing industry is highly labour intensive and capital. Some of the major costs associated with manufacturing and marketing of the automobile products are labour cost, cost of procuring raw materials and cost associated with advertisement and distribution. A large proportion of the industry is driven by revenues generated from selling of automobiles. However, the equipments and parts market also offer lucrative opportunities to the players. In the North American market, the industry is principally dominated by three major players namely Ford Motor Co., General Motors and Chrysler. In addition, the foreign players such as Honda Motor Co and Toyota Motor Co are other major players (General Motors, â€Å"Annual Report: Financial Highlights†) According to several industry analysts, the automobile industry depends heavily on the tastes and trends of consumers (Adair 6-10). Although, a large segment of the overall sales of automobiles generates from the business to business selling and car renting companies, but the end consumer always has the highest priority as they are the one who drive the growth and progression of the industry (Bhushan and Rai 12-18). Another vital caveat for analyzing an automobile company is the intentions of the company pertaining to their planning and redesign. In this rapidly changing business environment companies, irrespective of the nature and business line are continuously trying to bring changes into their system of operation and product design. As a result of that, it is noticed that every year companies come up with either a new car or modify their existing car. These changes have massive impact on the success or failure of a company as consumers are directly influenced by it. In addition, there are certain other factors such as the price; the variation of models as well as the status it reflects in the social world is also a major factor (Hicks 14-21). Therefore, the discussion makes it evident that there are several factors responsible for the success of an automobile company as well as for gaining reputation in the market. In the context of the automotive industry of Mexico, it is characterized by steady growth and high potential. The industry accounts for 3.6% of the overall GDP of the country and is growing at a steady pace (Esenaro, â€Å"Luxury Car Manufacturing on A Roll in Mexico†). Despite the economic crisis, where majority of automobile players were seriously affected, and resulted in minimization of various expenditures, have once again occupied the emblematic position in the national economy of the country. As of latest figures the country ranks among the top 10 car manufacturing countries of the world. Figure 1 –

Contemporary Issue In Marketing Essay Example | Topics and Well Written Essays - 1500 words

Contemporary Issue In Marketing - Essay Example This report mainly focuses on relationship marketing, its importance in the modern business scenario and connection of relationship with technological innovation and discussion regarding the Integrated Marketing Communication (IMC). Lastly, a conclusion and recommendation is made regarding the close connectivity between these three aspects. Relational marketing In the last few decades, the marketing theories have experienced a colossal shift in both theories and practices of marketing. Relationship marketing is a developing network paradigm that recognises that global competition occurs between networks of organizations. In the context of relationship marketing, Morgan and Hunt (1994) have suggested the Commitment and Trust Theory that involves all types of relational exchanges. The researchers have argued that the central concept of relationship marketing rotates around those that distinguish an effective and productive relational exchange from those that are ineffective and unprodu ctive. There are several factors that contribute towards the success or failure of relationship marketing effort. These scholars have stressed on trust and commitment that makes significant contribution. They theorised that relationship trust and commitment is the key to successful relationship marketing. These two aspects help the marketer in preserving relationship by cooperating with the partners, resisting their attraction towards short-term benefits in the hope to reap long-term ones by staying with the existing partners and looking at high-risk actions as prudent. Figure 1 (Source: Morgan and Hunt, 1994) Another research scholar, Reichheld and Sasser (1990), have stressed on the fact that there are very few companies who have succeeded in providing the service commitment made by them to the customers. For service companies, scrap heap signifies customers who are not going to come back. If the companies start measuring this scrap heap, they will realise that this scarp cost the m heavily and ardent steps are needed to be taken in order to reduce the same. This will make them strive for â€Å"zero defects† in their quality movement and guiding light for making the organization gain profitability and achieve it soon. They have suggested that customer defection leads to a powerful impact on the bottom line. The company’s market share, profit, unit cost and many other factors related to competitive advantage are expected to be impacted positively. This strengthening and lengthening of relationship is expected to increase profit by 100 percent, by 5 percent retention of the existing customers. Technology development Computing technology is an omnipresent aspect that encompasses both personal lives of an individual and organizational framework. In order to understand the outcomes, resulting from technology acceptance, several theoretical models has been proposed such as, technology acceptance model (TAM) and innovation diffusion theory. The TAM is hugely recognised as robust but with parsimonious conceptualization. Based on the theory of reasoned action, it has been argued by TAM that the behaviour of IT acceptance can be explained, based on the belief of the individual, regarding the ease of use and usefulness of IT. On the other hand, the innovation diffus

Gran Torino Movie Review Example | Topics and Well Written Essays - 750 words - 3

Gran Torino - Movie Review Example When main hero Walt first comes to Thao’s house as a guest he feels alienated and doesn’t speak to anybody (Miller & Vandome & McBrewster, 56). So do all the other members of the family who ignore him. He only speaks with Thao and his sister who are young and therefore don’t feel so secluded. Now even starting with simple displays of respect we can already see that intercultural communication goes wrong in this scene when it can be done better. Asian people rarely shake hands and they traditionally prefer to present their respect in a form of bow. Walt wants to give everybody his hand to shake but he doesn’t succeed and afterwards even bows himself as he understands that it is he who is a guest and therefore should conform to the rules. But because Walt thinks of those people as guests in his country he can’t realize it at once and his intercultural communication evolves slowly with the flow of a storyline. Using this scene again it will be acceptab le to apply here interaction management too. If Thao’s elderly family members and Walt instead of defiantly not talking with each other try to maintain a conversation about, for example, their neighborhood in which all of them happen to live whether they like it or not it would be easier for them to become closer. Next example is a general relationship between Thao and Walt who are completely different in age, nation, culture, tradition and views. But paradoxically this difference attracts them because they are so different from everybody that they seek understanding.

JetBlue Airways Corporation Essay Example for Free

JetBlue Airways Corporation Essay JetBlue Airways Corporation was formed in August 1998 as a low-fare, low-cost but high service passenger airline serving select United States market. JetBlues operations strategy was designed to achieve a low cost, whilst offering customers a pleasing and differentiated flying experience. JetBlue has had a successful business model and strong financial results during that period, and performed well in comparison to other airline companies in the US during the period between 2000 and 2003. It had been the only other airline apart from Southwest airlines, to have been profitable during the aftermath of the September 11, 2001 attacks on World Trade Center, and at a time when the entire airline industry was experiencing losses. The core of JetBlues strategy was low operating cost achieved through a smaller and more productive workforce; utilizing aircraft efficiently; better use of technology to achieve lower distribution cost i.e. use of electronic ticket as against paper ticket; use of brand new single model planes that reduced maintenance costs and training costs at the same time. However, moving into the growth phase, JetBlue was contemplating expansion with the introduction of a new model of planes, i.e. Embraer E190, that are smaller than the A320s that they were using. These planes were to be utilized for penetrating mid-size cities and also during off-peak times on existing routes. The company defined these markets as destination with 100 to 600 local passengers per day each way, compared to the much larger markets that the company was serving with its A320s. This had potential implications for its low-cost strategy. Jetblues expansion required investments in areas other than just new aircraft. Owen needed to decide how to raise additional capital to fund the  companys growth. Investment bankers had presented two financing proposals; a new public equity offering and a private placement of convertible debentures. Own needed to decide which proposal, if any, to recommend to the board. QUESTION 1 PART A In early 2003, JetBlue continue to see opportunity to grow by adding both new market and new flight to existing destination. One of such new market where the company believed there was attractive opportunity was the mid-sized market segment which comprised of destinations with 100 600 local passengers per day each way. To accommodate this growth, the company is seeking to purchase 65 new Airbus A320, with an option to buy additional 50 new aircraft, and also committed to purchase 100 Embraer E190 aircraft, with the option to purchase 100 additional ones. Jetblue had embarked on a $6.8 billion plane acquisition program that would increase its aircraft fleet from 45 to 252, including existing aircraft purchase commitment. The company needs thus to think about a way to finance those acquisitions, as well as other needed investments such as spare parts, new engines, additional hangars and a flight training centre JOHN OWEN THE CFO OF JETBLUE IS TRYING TO DECIDE WHICH OF TWO FINANCING PROPOSALS (NEW PUBLIC EQUITY OFFERING AND A PRIVATE PLACEMENT OF CONVERTIBLE DEBENTURE) TO PURSUE. A straight equity issue will dilute his principal shareholders ownership, but favored a conservative capital structure that would help to ensure JetBlues financial flexibility, access to capital and a favorable lending rate. On the other hand, a convertible debt alternative seems less dilutive, and cheaper, but brings with it an increased risk of default and financial problems. PART B The financing decision taken by the CFO is important because of the positive impact it is expected to have on the current and future performance of the JetBlue. The considerations as regards impact of the financing decision are discussed; IMPACT ON CURRENT PERFORMANCE OF THE COMPANY It is expected that the new capital would ease Jetblues ability to finance its short term obligations as JetBlue does not have a line of credit, or short-term borrowing facility. Therefore, the company depends on its operating cash flow to finance its short-term obligations The new capital will be required to finance working capital requirement of Jetblue, Working capital is the short term resources that are used to manage the business on a daily basis. This is otherwise referred to as current asset. The financing decision which is aimed at securing the purchase of the new 100-seat Embraer E190 aircraft would allow JetBlue to enter smaller markets while maintaining low operating costs, and increase flight frequency on existing routes. The low fares offered by JetBlue would allow it to attract new passengers who might otherwise not fly. Earnings from this market segment is expected to contribute to the profitability and positive financial performance of the company IMPACT ON FUTURE PERFORMANCE OF THE COMPANY The additional capital is expected to strengthen the companys balance sheet at a time when JetBlue will be shouldering a significant amount of debt related to new aircraft deliveries. The decision on financing method would result in a strong capital structure for Jetblue which would ensure that the company would continue to grow while avoiding financial problems. The new cash inflow which is directed at ensuring JetBlue achieves its expansion activities. It is expected that the company will be in a position to purchase larger volumes of jet fuel and would thus have more leverage in procuring fuel than today. The company will thus suffer relatively less from fuel shortages and the negative impact a rise in fuel has an operating income QUESTION 2 PART A John Owen the CFO of JetBlue generally favored a conservative capital structure. A conservative funding strategy is when a firm finances both its seasonal and permanent requirement with long term debt. The criteria which John Owen used to evaluate his decision on the appropriate capital structure and mode of financing to support the expansion drive of the business are; FINANCIAL FLEXIBILITY: This refers to the firms ability to take advantage of unforeseen opportunities or their ability to deal with expected events depending on the firms financial policies and financial structure. A firm with a high debt obligation and weak solvency and liquidity is not financially flexible. FAVORABLE LENDING RATE: The lending rate to a business varies directly with the risk associated with any given financial structure which can be accessed by leverage analysis. It is expected that a higher leverage (as a result of accepting debt offering) tends to amplify a firms predictable business swings i.e. associated risk. This inclines to increase lending rate to the firm and ultimately result in an unfavorable lending rate. CONTROL: The financing scheme of a company can imply changes in control constrains on the firm, this can be indicated by percentage distribution of share ownership and structure of debt covenant. There is a high chance that the board of directors will not favor the equity offering as they were  sensitive about the dilution (i.e. control dilution) that an equity offering would cause to existing shareholders. INCOME: This compares financing tactics on the basis of their effect on value creation and distribution i.e. the impact on Earnings per share (EPS) and Return on equity (ROE). The debt option limited the ability of Jetblue to manage one of the airlines principal risk; rising fuel prices. As discussed above, the debt offering afforded Jetblue less financial flexibility. If fuel prices rose unexpectedly, operating income will decline thus hurting JetBlues ability to meet the additional debt service payments. PART B Other criteria John Owen could use to evaluate his decision on the appropriate capital structure and mode of financing are; Timing: This considers whether the current capital market environment is the right time to implement any alternative financial structure and what the implication for future financing will be if the proposed structure is adopted. Financial market condition often favour one or another kind of financing. Others: This is the consideration of the impact of the alternative financing choice on other issues and vice versa. An example is the ability to use collateral to reduce the costs and risk of debt financing and the effect of various financing tactics on the liquidity of investment. REASONS WHY JOHN OWEN SHOULD PROPOSE THE EQUITY FINANCING OPTION From the above analysis, it can be deduced that using equity financing option minimizes the companys weighted average cost of capital, thus maximizes the overall stock price of the company and the shareholders wealth. The NPV of the company is higher under the equity financing option JetBlue, as any airline company has a debt to equity ratio of 61.21% and incurs very high fixed costs as a result of high value operating property and equipment. An equity offering would increase the financial flexibility of the company. The company has a very high operating leverage as a result of variability in fuel price. This exposes the company to the risk of cash flow projections errors in case it does not meet the projected revenues figures. Any variation in the estimated revenues, might lead the company to a position where it could not meet its financial obligations related to debt. From this point of view, JetBlue needs to secure its cash flows. This can be achieved using equity financing. The lending rate to a business varies directly with the risk associated with any given financial structure which can be accessed by leverage analysis. Issuing equity will reduce the leverage of business and reduce lending rate. PART C Other financing option I would like to recommend to the board and John Owen are; JetBlue can consider some other alternatives as well. Indeed, the company can issue some preferred stock. This stock might be considered as equity in accounting, to strengthen the balance sheet of the company, but will at the same time accommodate the board members concern about dilution. Another alternative might be the issuance of simple corporate bonds. The coupon rate for those will however be higher than the 3.5% of the convertible bonds. This option will thus cost more for JetBlue than convertible bonds QUESTION 4 PART A Aviation fuel cost is the second largest operating cost in the airline industry after payroll, this has significant impact on operating and financing risks of a company. IMPACT ON OPERATING RISK: In 2002, JetBlues fuel cost amounted to $76 million or 14.4% of operating cost. In the event that fuel prices rises, there will be a significant drop in operating income and higher exposure to operating risk (risk created by operating leverage). Operating leverage is the magnification of the top half of the income statement, it measures how EBIT changes in response to changes  in sale, and the relevant cost is the fixed cost of operating the business. It is expected that as operating leverage increase due to jet fuel increase, the operating risk of the business likewise increases. IMPACT ON FINANCING RISK In the event that jet fuel rises, it is expected that operating profit will drop and operating leverage would increase. This will also hurt JetBlues ability to meet the additional debt service payment i.e. it may face risk of default or potential financial loss which is known as financial risk. Financing risk is the risk associated with financing and its created by financial leverage. Financial leverage is the magnification of the bottom half of the income statement, it measures how EPS (earnings per share) changes in response to changes in sale, and the relevant cost is the fixed cost of financing, in particular interest. PART B The operating and financing risk exposure of JetBlue through rising fuel price of JetBlue has being managed in the past through hedging 75% of its fuel using a combination of CALL OPTIONS, SWAPS AND COLLARS hedging instrument. PART C HEDGING: Fuel hedging is a contractual tool some large fuel consuming companies such as airlines (JetBlue) use to reduce their expose to volatile and potentially rising fuel cost. A fuel hedge contract allows a large fuel consuming company to lock in the cost of future fuel purchase, allowing an increasing number of airlines to avoid surprises from unforeseen cost fluctuations. The hedging could be done via a commodity swap or option. One of the basic reasons why a company enters into hedging contract is to mitigate their exposure to future fuel prices that may be higher than current prices and/or  to establish a known fuel cost for budgeting and predictability of earnings. PRINCIPAL WAYS JETBLUE HAS BEING USING HEDGING TO MANAGE FUEL PRICING RISK: Jetblue is a small airline which had less leverage in procuring large volume of jet fuel in order to mitigate risk of volatility or shortage of jet fuel. In order to mitigate fuel pricing risk, Jetblue used a combination of fuel call option, swaps and collars hedging instrument. From time to time Jetblue has simply bought call options which tend to be at least $5 per barrel. HOW THE HEDGING INSTRUMENT WORKS The hedging instrument mostly used by JetBlue is the call option. CALL OPTION: This is a financial contract between two parties, the buyer and the seller of this type of option. The buyer of the option has the right but not the obligation to buy an agreed quantity of a particular commodity (jet fuel) from the seller of the option at a certain time (the expiration date for European call option or at any time during the life of the option for American call option) for a certain price (the strike price). The seller is obligated to sell the commodity (jet fuel) or financial instrument should the buyer so decide. The buyer pays a fee called a premium for this right. In the case JetBlue, the premium it pays is at least $5 per barrel. SWAPS: Swaps are tailor made futures contract whereby an airline exchanges payment at a future date (which can be in jet aviation fuel and could be further into the future into the future than possible through commodity exchanges), based on the fuel or oil price. There could be an arrangement with a supplier such as Air BP. The airline would buy a swap for a period of say one year at a certain strike price for a specified amount of jet fuel per month. The average price for that month is then compared with the strike price, and if it exceeds it the counter-party would pay the airline the difference times the amount of fuel. However, if it were lower, then the airline would pay the difference. They lock in a given price, as with forward contacts. COLLARS: This is a combination of a call and a put option. The call protects the holder from adverse price increases above its strike price, at a cost of the option premium that would be paid in any event. The holder of this call also writes a put option that limits the advantage it can take of price reduction below its strike price. The total cost of taking the two options is the call option premium paid less the put option premium received. A collar limits the speculative risk to a small range of price moves and locks in the price that will be paid for fuel between two known values.