Impact Of Mergers And Acquisition On Corporate Performance

An evaluative study on the impact of mergers and acquisition on corporate performance/profitability/efficiency Merger is a process in which to firms can mix their business to perform to a good level or to achieve a goal which either of these firms are not able to achieve alone. Mergers can take place on the same industry as well as in the different industries. It may b horizontal, vertical, conglomerate merger based on the nature of the business and the way the businesses are merging and the relevant and non-relevant industries. Acquisition is a process in which firm basically acquires the operation, management or the complete corporation. Acquisition may be friendly and may b hostile depending on the nature of transaction. Both mergers and acquisition may have impact on the performance of the organization after the occurring of the transaction. Impact may be positive as well as negative on corporate performance based on different factors in different economies. Mergers and acquisition have a both positive and negative impacts on a firm s financial performance or on its profitability. Firm may be in manufacturing sector or it may b service sector, but whenever the transaction of merger and acquisition takes place it effects the performance. In Africa Bank s financial performance effects after the mergers takes place and the firm s financial performance comprises or checked by Liquidity ratios, Performance ratios(ROA ROE), and Investment valuation(EPS). TheShow MoreRelatedThe Effect Of Internal Control On Mergers And Acquisitions Essay802 Words   |  4 Pageslittle evidence on impact of internal control on mergers and acquisitions (MA). This paper examine the relationship between internal control quality and MA performance. Specially, this paper takes a look whether or not internal control impact differently on the performance of three types of MA: horizontal mergers, vertical mergers and conglomerate mergers. The Sarbanes-Oxley Act of 2002 (SOX), also known as the Public Company Accounting Reform and Investor Protection Act and Corporate and Auditing AccountabilityRead MoreEffects on Mergers and Acquisitions on Bank Growth1247 Words   |  5 PagesEFFECTS OF MERGERS AND ACQUISITIONS ON BUSINESS GROWTH: CASE STUDY OF SOCIÉTÉ GÉNÉRALE - SOCIAL SECURITY BANK LTD (SG-SSB) CHAPTER ONE 1.0 INTRODUCTION AND BACKGROUND TO THE STUDY Chief Executive Officers and the Board of Directors of most businesses often think about the growth of their businesses. The reason is that when businesses grow, they yield the best returns other things being equal. Mergers and acquisitions is one of theRead MoreBusiness Analysis : M A3157 Words   |  13 Pagesformation of firms as a mechanism of integration, which enables individuals to develop an enterprise and to combine capital and expertise from different individuals. Mergers, especially the mega-mergers, change the market structure. Mergers and Acquisitions (MA) have unparalleled capability to transform firm and supplement corporate renewal. Research in MA has been done taking into consideration a multitude of disciplines, e.g. finance, economics, law, business, strategy formulation, organizationRead MoreMechanics of Mergers Acquisitions1662 Words   |  7 PagesMECHANICS OF MERGERS ACQUISITIONS    Change is ubiquitous in contemporary society, and nowhere more so than in the operations of the large-scale, public corporation. Dramatic changes are underway, not only in the structure of corporate activity in areas such as the nature of work and the nature of organizational form, but also in the product and financial markets and the regulatory environment within which corporations operate. The depth and rapidity of these changes compel a reassessment ofRead MoreEnterprise Architecture : The Structure And Operation Of The Organization1564 Words   |  7 Pagesof the organization. The intent of Enterprise Architecture is to determine how an organization can most effectively achieve its current and future objectives. Enterprise Architecture is management and technology practice devoted to improve the performance of enterprise by enabling them to see themselves in terms of a holistic and integrated view of their strategic direction, business practices, information flows and technology resources. It is a rigorous approach for describing the structure of anRead MoreControl of the Corporation, Mergers and Acquisitions1192 Words   |  5 PagesThe Agency Problem and Control of the Corporation, Mergers and Acquisitions The Agency Problem and Control of the Corporation Corporate managers are the agents of shareholders. This relation creates a problem for shareholders who must find ways to induce managers to pursue shareholders interests. Financial managers do act in the best interest of the shareholders by taking action to increase the stock value. However, in large corporations ownership can be spread over a huge number of stockholdersRead MoreHow Mergers And Acquisition Affect Financial Performance1170 Words   |  5 Pagesreport will focus on analysis what kind of impact will affect companies’ financial performance and its value through companies’ mergers and acquisition in technology industry. This article will use a variety of ways for detailed analysis of how Mergers and acquisition affect financial performance, such as use the financial ratio to analysis corporate performance. Then use the PESTEL theory to analysis whether companies can benefit from Mergers and acquisition. Rational for chosen industry and companiesRead MoreThe Different Merger Strategies Employed By Acquirers1448 Words   |  6 PagesCritically examine the different merger strategies employed by acquirers Today’s business world hosts a phenomenon, a way to expand business activities by consolidating or buying another company, so called Mergers or Acquisitions (MA’s). MA’s is a corporate strategy that was introduced in the 1960s. It has experienced ‘waves’ of popularity and success while at the same time suffered criticism due to numerous failures. In today s global, competitive environment, mergers are sometimes the only meansRead MoreImpact of Acquisition on Employees Performance: A case Study of RBS818 Words   |  4 PagesAfter acquisition of any firm/ organization management need to motivate their employees and make them feel satisfied about their jobs, if the employees feel satisfied they perform their duties efficiently and when acquired firm’s employee performed best it directly affect the acquired firm’s performance. Motivation is very necessary in any field when an employee get motivated they perform their duty with the best of their knowledge and try to work hard. According to different researcher there areRead MoreTo What Extent Does a Mature and Cyclical Product Market Drive Corporate Restructuring? Use an Example to Discuss Whether Restructuring Transforms Market and Financial Performance.1669 Words   |  7 Pagesdoes a mature and cyclical product market drive corporate restructuring? Use an example to discuss whether restructuring transforms market and financial performance. A business, which has a product that runs in a cyclical and mature market, will eventually not have the ability to ‘grow’ anymore as it will reached the ‘top’. Therefore to continue making its business profitable, increase shareholder value and work more effectively they under go corporate restructuring. This is a process used in all

Their Eyes Were Watching God - 874 Words

Folklorist, anthropologist, playwright, and novelist, Zora Neale Hurston s career took off after publishing, what is, today, her most famous novel, Their Eyes Were Watching God. Unlike any other work at the time, the dialect in her novels portrayed how African-Americans speak in the deep south. Set in Southern Florida, the heroine Janie, is thought to have been modeled after Hurston, herself, if she had chose to stay in her hometown of Eatonville instead of going to college. In the novel, Janie is unable to develop a life as a New Woman through much of her adulthood due to the geographical area she lived in, basic education, financial state, grandmother s values, history of slavery, and her marriage to Joe Sparks. Hurston, on the other hand, was able to develop her life as a New Woman due to her access to higher education, financial state, and support from her mother. Southern Florida, the region where Janie lives, is one of the main reasons in why she is unable to develop a life as a New Woman through much of her adulthood. Growing up in a rural area, she did not have access to higher education. For most New Women, education was a critical part of their life, as this is where they learned new ideas and valuable skills for a possible vocation. Janie s financial state also contributes to her lack of development into the New Woman through most of her adulthood. Without access to higher education, she is unable to become financially independent, which was important forShow MoreRelatedTheir Eyes Were Watching God1064 Words   |  5 Pagessignificant than death. In Zora Neale Hurston’s famous novel, Their Eyes Were Watching God, the main character Janie Crawford is plagued by the deaths of loved ones. Janie moves from caregiver to caregiver searching for true love and happiness, only to have it stripped away from her once she finds it in her third husband Tea Cake. At the end of the novel, having realized true love and loss, Janie is a whole woman. Their Eye s Were Watching God portrays the growth of the human spirit through both the emotionalRead MoreTheir Eyes Were Watching God1780 Words   |  8 Pagesshort story â€Å"Sweat† and novel Their Eyes Were Watching God, the focus is on women who want better lives but face difficult struggles before gaining them. The difficulties involving men which Janie and Delia incur result from or are exacerbated by the intersection of their class, race, and gender, which restrict each woman for a large part of her life from gaining her independence. Throughout a fair part of Zora Neal Hurston’s novel, Their Eyes Were Watching God, Janie’s low class create problemsRead MoreTheir Eyes Were Watching God932 Words   |  4 PagesJanie Crawford: The Woman Whose Clothing Conveys Her Relationships In Zora Neale Hurston’s Their Eyes Were Watching God, the protagonist, Janie, endures two marriages before finding true love. In each of Janie’s marriages, a particular article of clothing is used to symbolically reflect, not only her attitude at different phases in her life, but how she is treated in each relationship. In Janie’s first marriage with Logan Killicks, an apron is used to symbolize the obligation in her marriage. â€Å"Read More Eyes Were Watching God Essay711 Words   |  3 Pages Their Eyes Were Watching God provides an enlightening look at the journey of a quot;complete, complex, undiminished human beingquot;, Janie Crawford. Her story, based on self-exploration, self-empowerment, and self-liberation, details her loss and attainment of her innocence and freedom as she constantly learns and grows from her experiences with gender issues, racism, and life. The story centers around an important theme; that personal discoveries and life experiences help a person findRead MoreAnalysis Of Their Eyes Were Watching God 1061 Words   |  5 PagesDivision: Janie Crawford in Their Eyes Were Watching God Their Eyes Were Watching God was written in 1937 by Zora Neale Hurston. This story follows a young girl by the name of Janie Crawford. Janie Crawford lived with her grandmother in Eatonville, Florida. Janie was 16 Years old when her grandmother caught her kissing a boy out in the yard. After seeing this her grandmother told her she was old enough to get married, and tells her she has found her a husband by the name of Logan. Logan was a muchRead More Their Eyes Were Watching God Essay1757 Words   |  8 Pages Their Eyes Were Watching God Book Report 1. Title: Their Eyes Were Watching God 2. Author/Date Written: Zora Neale Hurston/1937 3. Country of Author: 4. Characters Janie Mae Crawford- The book’s main character. She is a very strong willed, independent person. She is able to defy a low class, unhappy life because of these factors, even though the environment that she grew up and lived in was never on her side. Pheoby Watson – Janie’s best friend in Eatonville. Pheoby is the only towns person whoRead MoreWhose eyes were watching God?1400 Words   |  6 PagesWhose eyes were watching God? In the movie Their Eyes Were Watching God, Oprah Winfrey manipulates events that happened in the book by Zora Neale Hurston. Oprah morphs many relationships in the movie Their Eyes Were Watching God. She changes the role of gender, and also makes changes in Janie’s character strength. Oprah also changes the symbolism in the movie to where some important symbols in the book change to less important roles. Oprah changes many important events in the book Their Eyes WereRead MoreTheir Eyes Were Watching God Essay724 Words   |  3 PagesTHEIR EYES WERE WATCHING GOD ESSAY  ¬Ã‚ ¬ Janie Crawford is surrounded by outward influences that contradict her independence and personal development. These outward influences from society, her grandma, and even significant others contribute to her curiosity. Tension builds between outward conformity and inward questioning, allowing Zora Neal Hurston to illustrate the challenge of choice and accountability that Janie faces throughout the novel. Janie’s Grandma plays an important outward influenceRead MoreEssay on Their Eyes Were Watching God921 Words   |  4 PagesTheir Eyes Were Watching God An Analysis So many people in modern society have lost their voices. Laryngitis is not the cause of this sad situation-- they silence themselves, and have been doing so for decades. For many, not having a voice is acceptable socially and internally, because it frees them from the responsibility of having to maintain opinions. For Janie Crawford, it was not: she finds her voice among those lost within the pages of Zora Neale Hurston’s famed novel, Their Eyes Were WatchingRead MoreTheir Eyes Were Watching God By Zora Hurston Essay1233 Words   |  5 PagesHurston In the novel â€Å"Their Eyes Were Watching God† by Zora Neal Hurston is about a young woman named Janie Crawford who goes on a journey of self discovery to find her independence. The book touches on many themes like gender roles, relations, independence and racism however racism isn’t mainly focused upon in the book which some writers felt should have been. Some felt that the representation of black characters should have been better role models. Zora Hurston’s novel wasn’t like other black literature

Chapter 4 Back to the Burrow Free Essays

By twelve o’clock the next day, Harry’s school trunk was packed with his school things and all his most prized possessions – the Invisibility Cloak he had inherited from his father, the broomstick he had gotten from Sirius, the enchanted map of Hogwarts he had been given by Fred and George Weasley last year. He had emptied his hiding place under the loose floorboard of all food, double-checked every nook and cranny of his bedroom for forgotten spellbooks or quills, and taken down the chart on the wall counting down the days to September the first, on which he liked to cross off the days remaining until his return to Hogwarts. The atmosphere inside number four, Privet Drive was extremely tense. We will write a custom essay sample on Chapter 4 Back to the Burrow or any similar topic only for you Order Now The imminent arrival at their house of an assortment of wizards was making the Dursleys uptight and irritable. Uncle Vernon had looked downright alarmed when Harry informed him that the Weasleys would be arriving at five o’clock the very next day. â€Å"I hope you told them to dress properly, these people,† he snarled at once. â€Å"I’ve seen the sort of stuff your lot wear. They’d better have the decency to put on normal clothes, that’s all.† Harry felt a slight sense of foreboding. He had rarely seen Mr. or Mrs. Weasley wearing anything that the Dursleys would call â€Å"normal.† Their children might don Muggle clothing during the holidays, but Mr. and Mrs. Weasley usually wore long robes in varying states of shabbiness. Harry wasn’t bothered about what the neighbors would think, but he was anxious about how rude the Dursleys might be to the Weasleys if they turned up looking like their worst idea of wizards. Uncle Vernon had put on his best suit. To some people, this might have looked like a gesture of welcome, but Harry knew it was because Uncle Vernon wanted to look impressive and intimidating. Dudley, on the other hand, looked somehow diminished. This was not because the diet was at last taking effect, but due to fright. Dudley had emerged from his last encounter with a fully grown wizard with a curly pig’s tail poking out of the seat of his trousers, and Aunt Petunia and Uncle Vernon had had to pay for its removal at a private hospital in London. It wasn’t altogether surprising, therefore, that Dudley kept running his hand nervously over his backside, and walking sideways from room to room, so as not to present the same target to the enemy. Lunch was an almost silent meal. Dudley didn’t even protest at the food (cottage cheese and grated celery). Aunt Petunia wasn’t, eating anything at all. Her arms were folded, her lips were pursed, and she seemed to be chewing her tongue, as though biting back the furious diatribe she longed to throw at Harry. â€Å"They’ll be driving, of course?† Uncle Vernon barked across the table. â€Å"Er,† said Harry. He hadn’t thought of that. How were the Weasleys going to pick him up? They didn’t have a car anymore; the old Ford Anglia they had once owned was currently running wild in the Forbidden Forest at Hogwarts. But Mr. Weasley had borrowed a Ministry of Magic car last year; possibly he would do the same today? â€Å"I think so,† said Harry. Uncle Vernon snorted into his mustache. Normally, Uncle Vernon would have asked what car Mr. Weasley drove; he tended to judge other men by how big and expensive their cars were. But Harry doubted whether Uncle Vernon would have taken to Mr. Weasley even if he drove a Ferrari. Harry spent most of the afternoon in his bedroom; he couldn’t stand watching Aunt Petunia peer out through the net curtains every few seconds, as though there had been a warning about an escaped rhinoceros. Finally, at a quarter to five, Harry went back downstairs and into the living room. Aunt Petunia was compulsively straightening cushions. Uncle Vernon was pretending to read the paper, but his tiny eyes were not moving, and Harry was sure he was really listening with all his might for the sound of an approaching car. Dudley was crammed into an armchair, his porky hands beneath him, clamped firmly around his bottom. Harry couldn’t take the tension; he left the room and went and sat on the stairs in the hall, his eyes on his watch and his heart pumping fast from excitement and nerves. But five o’clock came and then went. Uncle Vernon, perspiring slightly in his suit, opened the front door, peered up and down the street, then withdrew his head quickly. â€Å"They’re late!† he snarled at Harry. â€Å"I know,† said Harry. â€Å"Maybe – er – the traffic’s bad, or something.† Ten past five†¦then a quarter past five†¦Harry was starting to feel anxious himself now. At half past, he heard Uncle Vernon and Aunt Petunia conversing in terse mutters in the living room. â€Å"No consideration at all.† â€Å"We might’ve had an engagement.† â€Å"Maybe they think they’ll get invited to dinner if they’re late.† â€Å"Well, they most certainly won’t be,† said Uncle Vernon, and Harry heard him stand up and start pacing the living room. â€Å"They’ll take the boy and go, there’ll be no hanging around. That’s if they’re coming at all. Probably mistaken the day. I daresay their kind don’t set much store by punctuality. Either that or they drive some tin-pot car that’s broken d -AAAAAAAARRRRRGH!† Harry jumped up. From the other side of the living room door came the sounds of the three Dursleys scrambling, panic-stricken, across the room. Next moment Dudley came flying into the hall, looking terrified. â€Å"What happened?† said Harry. â€Å"What’s the matter?† But Dudley didn’t seem able to speak. Hands still clamped over his buttocks, he waddled as fast as he could into the kitchen. Harry hurried into the living room. Loud bangings and scrapings were coming from behind the Dursleys’ boarded-up fireplace, which had a fake coal fire plugged in front of it. â€Å"What is it?† gasped Aunt Petunia, who had backed into the wall and was staring, terrified, toward the fire. â€Å"What is it, Vernon?† But they were left in doubt barely a second longer. Voices could be heard from inside the blocked fireplace. â€Å"Ouch! Fred, no – go back, go back, there’s been some kind of mistake – tell George not to – OUCH! George, no, there’s no room, go back quickly and tell Ron -â€Å" â€Å"Maybe Harry can hear us, Dad – maybe he’ll be able to let us out -â€Å" There was a loud hammering of fists on the boards behind the electric fire. â€Å"Harry? Harry, can you hear us?† The Dursleys rounded on Harry like a pair of angry wolverines. â€Å"What is this?† growled Uncle Vernon. â€Å"What’s going on?† â€Å"They – they’ve tried to get here by Floo powder,† said Harry, fighting a mad desire to laugh. â€Å"They can travel by fire – only you’ve blocked the fireplace – hang on -â€Å" He approached the fireplace and called through the boards. â€Å"Mr. Weasley? Can you hear me?† The hammering stopped. Somebody inside the chimney piece said, â€Å"Shh!† â€Å"Mr. Weasley, it’s Harry†¦the fireplace has been blocked up. You won’t be able to get through there.† â€Å"Damn!† said Mr. Weasley’s voice. â€Å"What on earth did they want to block up the fireplace for?† â€Å"They’ve got an electric fire,† Harry explained. â€Å"Really?† said Mr. Weasley’s voice excitedly. â€Å"Eclectic, you say? With a plug? Gracious, I must see that†¦.Let’s think†¦Ouch, Ron!† Ron’s voice now joined the others’. â€Å"What are we doing here? Has something gone wrong?† â€Å"Oh no, Ron,† came Fred’s voice, very sarcastically. â€Å"No, this is exactly where we wanted to end up.† â€Å"Yeah, we’re having the time of our lives here,† said George, whose voice sounded muffled, as though he was squashed against the wall. â€Å"Boys, boys†¦Ã¢â‚¬  said Mr. Weasley vaguely. â€Å"I’m trying to think what to do†¦.Yes†¦only way†¦Stand back, Harry.† Harry retreated to the sofa. Uncle Vernon, however, moved forward. â€Å"Wait a moment!† he bellowed at the fire. â€Å"What exactly are you going to -â€Å" BANG. The electric fire shot across the room as the boarded-up fireplace burst outward, expelling Mr. Weasley, Fred, George, and Ron in a cloud of rubble and loose chippings. Aunt Petunia shrieked and fell backward over the coffee table; Uncle Vernon caught her before she hit the floor, and gaped, speechless, at the Weasleys, all of whom had bright red hair, including Fred and George, who were identical to the last freckle. â€Å"That’s better,† panted Mr. Weasley, brushing dust from his long green robes and straightening his glasses. â€Å"Ah – you must be Harry’s aunt and uncle!† Tall, thin, and balding, he moved toward Uncle Vernon, his hand outstretched, but Uncle Vernon backed away several paces, dragging Aunt Petunia. Words utterly failed Uncle Vernon. His best suit was covered in white dust, which had settled in his hair and mustache and made him look as though he had just aged thirty years. â€Å"Er – yes – sorry about that,† said Mr. Weasley, lowering his hand and looking over his shoulder at the blasted fireplace. â€Å"It’s all my fault. It just didn’t occur to me that we wouldn’t be able to get out at the other end. I had your fireplace connected to the Floo Network, you see – just for an afternoon, you know, so we could get Harry. Muggle fireplaces aren’t supposed to be connected, strictly speaking – but I’ve got a useful contact at the Floo Regulation Panel and he fixed it for me. I can put it right in a jiffy, though, don’t worry. I’ll light a fire to send the boys back, and then I can repair your fireplace before I Disapparate.† Harry was ready to bet that the Dursleys hadn’t understood a single word of this. They were still gaping at Mr. Weasley, thunderstruck. Aunt Petunia staggered upright again and hid behind Uncle Vernon. â€Å"Hello, Harry!† said Mr. Weasley brightly. â€Å"Got your trunk ready?† â€Å"It’s upstairs,† said Harry, grinning back. â€Å"We’ll get it,† said Fred at once. Winking at Harry, he and George left the room. They knew where Harry’s bedroom was, having once rescued him from it in the dead of night. Harry suspected that Fred and George were hoping for a glimpse of Dudley; they had heard a lot about him from Harry. â€Å"Well,† said Mr. Weasley, swinging his arms slightly, while he tried to find words to break the very nasty silence. â€Å"Very – erm – very nice place you’ve got here.† As the usually spotless living room was now covered in dust and bits of brick, this remark didn’t go down too well with the Dursleys. Uncle Vernon’s face purpled once more, and Aunt Petunia started chewing her tongue again. However, they seemed too scared to actually say anything. Mr. Weasley was looking around. He loved everything to do with Muggles. Harry could see him itching to go and examine the television and the video recorder. â€Å"They run off eckeltricity, do they?† he said knowledgeably. â€Å"Ah yes, I can see the plugs. I collect plugs,† he added to Uncle Vernon. â€Å"And batteries. Got a very large collection of batteries. My wife thinks I’m mad, but there you are.† Uncle Vernon clearly thought Mr. Weasley was mad too. He moved ever so slightly to the right, screening Aunt Petunia from view, as though he thought Mr. Weasley might suddenly run at them and attack. Dudley suddenly reappeared in the room. Harry could hear the clunk of his trunk on the stairs, and knew that the sounds had scared Dudley out of the kitchen. Dudley edged along the wall, gazing at Mr. Weasley with terrified eyes, and attempted to conceal himself behind his mother and father. Unfortunately, Uncle Vernon’s bulk, while sufficient to hide bony Aunt Petunia, was nowhere near enough to conceal Dudley. â€Å"Ah, this is your cousin, is it, Harry?† said Mr. Weasley, taking another brave stab at making conversation. â€Å"Yep,† said Harry, â€Å"that’s Dudley.† He and Ron exchanged glances and then quickly looked away from each other; the temptation to burst out laughing was almost overwhelming. Dudley was still clutching his bottom as though afraid it might fall off. Mr. Weasley, however, seemed genuinely concerned at Dudley’s peculiar behavior. Indeed, from the tone of his voice when he next spoke, Harry was quite sure that Mr. Weasley thought Dudley was quite as mad as the Dursleys thought he was, except that Mr. Weasley felt sympathy rather than fear. â€Å"Having a good holiday, Dudley?† he said kindly. Dudley whimpered. Harry saw his hands tighten still harder over his massive backside. Fred and George came back into the room carrying Harry’s school trunk. They glanced around as they entered and spotted Dudley. Their faces cracked into identical evil grins. â€Å"Ah, right,† said Mr. Weasley. â€Å"Better get cracking then.† He pushed up the sleeves of his robes and took out his wand. Harry saw the Dursleys draw back against the wall as one. â€Å"Incendio!† said Mr. Weasley, pointing his wand at the hole in the wall behind him. Flames rose at once in the fireplace, crackling merrily as though they had been burning for hours. Mr. Weasley took a small drawstring bag from his pocket, untied it, took a pinch of the powder inside, and threw it onto the flames, which turned emerald green and roared higher than ever. â€Å"Off you go then, Fred,† said Mr. Weasley. â€Å"Coming,† said Fred. â€Å"Oh no – hang on -â€Å" A bag of sweets had spilled out of Fred’s pocket and the contents were now rolling in every direction – big, fat toffees in brightly colored wrappers. Fred scrambled around, cramming them back into his pocket, then gave the Dursleys a cheery wave, stepped forward, and walked right into the fire, saying â€Å"the Burrow!† Aunt Petunia gave a little shuddering gasp. There was a whooshing sound, and Fred vanished. â€Å"Right then, George,† said Mr. Weasley, â€Å"you and the trunk.† Harry helped George carry the trunk forward into the flames and turn it onto its end so that he could hold it better. Then, with a second whoosh, George had cried â€Å"the Burrow!† and vanished too. â€Å"Ron, you next,† said Mr. Weasley. â€Å"See you,† said Ron brightly to the Dursleys. He grinned broadly at Harry, then stepped into the fire, shouted â€Å"the Burrow!† and disappeared. Now Harry and Mr. Weasley alone remained. â€Å"Well†¦Ã¢â‚¬â„¢bye then,† Harry said to the Dursleys. They didn’t say anything at all. Harry moved toward the fire, but just as he reached the edge of the hearth, Mr. Weasley put out a hand and held him back. He was looking at the Dursleys in amazement. â€Å"Harry said good-bye to you,† he said. â€Å"Didn’t you hear him?† â€Å"It doesn’t matter,† Harry muttered to Mr. Weasley. â€Å"Honestly, I don’t care.† Mr. Weasley did not remove his hand from Harry’s shoulder. â€Å"You aren’t going to see your nephew till next summer,† he said to Uncle Vernon in mild indignation. â€Å"Surely you’re going to say good-bye?† Uncle Vernon’s face worked furiously. The idea of being taught consideration by a man who had just blasted away half his living room wall seemed to be causing him intense suffering. But Mr. Weasley’s wand was still in his hand, and Uncle Vernon’s tiny eyes darted to it once, before he said, very resentfully, â€Å"Good-bye, then.† â€Å"See you,† said Harry, putting one foot forward into the green flames, which felt pleasantly like warm breath. At that moment, however, a horrible gagging sound erupted behind him, and Aunt Petunia started to scream. Harry wheeled around. Dudley was no longer standing behind his parents. He was kneeling beside the coffee table, and he was gagging and sputtering on a foot-long, purple, slimy thing that was protruding from his mouth. One bewildered second later, Harry realized that the foot-long thing was Dudley’s tongue – and that a brightly colored toffee wrapper lay on the floor before him. Aunt Petunia hurled herself onto the ground beside Dudley, seized the end of his swollen tongue, and attempted to wrench it out of his mouth; unsurprisingly, Dudley yelled and sputtered worse than ever, trying to fight her off. Uncle Vernon was bellowing and waving his arms around, and Mr. Weasley had to shout to make himself heard. â€Å"Not to worry, I can sort him out!† he yelled, advancing on Dudley with his wand outstretched, but Aunt Petunia screamed worse than ever and threw herself on top of Dudley, shielding him from Mr. Weasley. â€Å"No, really!† said Mr. Weasley desperately. â€Å"It’s a simple process it was the toffee – my son Fred – real practical joker – but it’s only an Engorgement Charm – at least, I think it is – please, I can correct it -â€Å" But far from being reassured, the Dursleys became more panic- stricken; Aunt Petunia was sobbing hysterically, tugging Dudley’s tongue as though determined to rip it out; Dudley appeared to be suffocating under the combined pressure of his mother and his tongue; and Uncle Vernon, who had lost control completely, seized a china figure from on top of the sideboard and threw it very hard at Mr. Weasley, who ducked, causing the ornament to shatter in the blasted fireplace. â€Å"Now really!† said Mr. Weasley angrily, brandishing his wand. â€Å"I’m trying to help!† Bellowing like a wounded hippo, Uncle Vernon snatched up another ornament. â€Å"Harry, go! Just go!† Mr. Weasley shouted, his wand on Uncle Vernon. â€Å"I’ll sort this out!† Harry didn’t want to miss the fun, but Uncle Vernon’s second ornament narrowly missed his left ear, and on balance he thought it best to leave the situation to Mr. Weasley. He stepped into the fire, looking over his shoulder as he said â€Å"the Burrow!† His last fleeting glimpse of the living room was of Mr. Weasley blasting a third ornament out of Uncle Vernon’s hand with his wand, Aunt Petunia screaming and lying on top of Dudley, and Dudley’s tongue lolling around like a great slimy python. But next moment Harry had begun to spin very fast, and the Dursleys’ living room was whipped out of sight in a rush of emerald-green flames. How to cite Chapter 4 Back to the Burrow, Essay examples

Decrease Overall Average Costs Associated †Myassignmenthelp.Com

Question: Discuss About The Decrease Overall Average Costs Associated? Answer: Introducation Economies of scale refer to the advantages that accrue to a company due to the increase in the scale of production. The overall aim of expanding production is to increase output with a decrease in the overall average costs associated. The low costs enable the firm to operate in production efficiency which allows them competitive advantage in production. This allows for lower prices and higher profits in turn since the costs of production are low. Since in the long run all factors of production are varied, there are no fixed or variable costs. Therefore the benefits of economies of scale can only be experienced in the long run. The long run cost curve represents the economies of scale. When the curve slopes downwards, there are decreasing returns to scale, when the LRAC is 1 there are constant returns to scale and when the LRAC has a positive gradient there are increasing returns to scale. Returns to scale means the rate at which the marginal cost increases relative to the unit output produced. The LRAC is drawn based on the areas of tangency between the SRAC and the LRAC. There are internal and external economies of scale which are derived from the long term growth of the firm itself. For example learning by doing, specialization, monopsony power and networks created. Also the firm derives managerial economies of scale through increased investment in human capital. Also there are external economies of scale that include better research and development as well as a logistics network. These are benefits that occur outside a firm but within the industry. Diseconomies of Scale Diseconomies of scale occur when the marginal costs of producing output are higher than the actual profits that are obtained from the increase in production scale. When the LRAC slopes upwards, the diseconomies of scale begin increasing. Some examples of the diseconomies of scale compose of administrative issues, medical care as well as insurance for the employees that were engaged in order to increase the scale of production. ZTL limited is a car garage and repair company that has been in business for the last 5 years. Initially the company had three main workers but as time grew it had to hire more employees. The company was able to satisfy more clients and grow its revenues. It however was important for the company to hire more management employees in order to deal with the HR issues of the employees. Income elasticity of demand refers to how sensible the quantity demanded of a specific good is to any change in real income of consumers accounting purchase the good, with the other factors remaining constant. The formula for calculating income elasticity of demand is simple. It is found by dividing the percentage change in the quantity demanded by the percentage change in income (Khan 2012). Income elasticity of demand is often used to establish if a specific good represents a luxury or a necessity depending on its values or type. A positive income elasticity of demand represent normal, or necessity goods as the value is between zero and one and consumers will purchase them regardless of the change in their real income, for example, electricity and water. A negative income elasticity of demand, on the other hand, represents inferior goods and their demand decreases as the consumer real income increases for example margarine, a cheaper substitute for butter. The income elasticity of demand linked to luxury goods in greater than one and consumers purchase depending on how much their real income changes, for example, designer cars and jewelry. Cross price elasticity of demand evaluates how much change the demand for a specific good will experience as a result of a change in the price of another good. Cross-price elasticity of demand looks at the connection between two products, good or service by capturing the response of the quantity required for one product to an alteration in the price of another product. Its formula is equal to the percentage change in the quantity demanded of product A divided by the percentage change in the price of product B (Deaton 1987). A negative cross-price elasticity of demand represents complementary products; for example, if the demand for cars increases then the demand for fuel of increases and if the price of the complement decreases then the demand for the other good will go up. A positive cross-price elasticity of demand, on the other hand, represents two substitute products. For instance, if there is an increase in the price of coffee then consumers will buy more tea and less coffee. As for independent products, the cross-price elasticity of demand as a value of Zero as an alteration in the price of one product does not affect the demand of the other. According to the kinked curved model of an oligopoly, each company deals with two market demand curves of any of its products (Masking Tirole 1988). When the price is high the demand curve will be relatively elastic and when it is low demand will be relatively inelastic; when the two intersects the kinked?demand curve is shown. The kinked-demand curve is a characteristic of oligopolistic because of the type of competition coming from the other oligopolies in the market. In case of an increase in price oligopolies usually do not copy each but in the case of a decrease, they usually copy other. For example, in the auto industry, if Ford increases the prices of its products, GMC will not follow with an increase in the price of its products. But if GMC was to decrease the price of its products Ford will follow immediately with a decrease of its own. Reference list Deaton, A.1987. Estimation of own- and cross-price elasticities form household survey data. Journal of Econometrics, Vol. 36. Available from: https://www.princeton.edu/~deaton/downloads/Estimating_Own_and_Cross_Price_Elasticities.marketing . [13 September 2017]. Khan, S. 2012. Income Elasticities of Demand for major consumption items. Case study of Kashmir University Teachers. International Journal of Scientific and Research Publications, Vol. 2. Avialable from: https://www.ijsrp.org/research_paper_jun2012/ijsrp-June-2012-85.pdf . [13 September 2017]. Masking, E Tirole, J. 1988. A theory of dynamic oligopoly, II: Price competition, kinked demand curves, and Edgeworth cycles. Econometrica, vol. 56, no. 3. Available https://scholar.harvard.edu/files/maskin/files/a_theory_of_dynamic_oligopoly_ii_price_competition_kinked_demand_curves_and_edgeworth_cycles.pdf . [13 September 2017].

How Fiend Like Is Lady Macbeth Essay Example

How Fiend Like Is Lady Macbeth Paper Lady Macbeth is called a â€Å"fiend-like Queen†. How far do you consider this to be an accurate description? Shakespeare reflects the beliefs of his age. People believed in a natural hierarchy in the 17th century often called the ‘great chain of being’. This says that God is at the top, angels beneath God, beneath angels there are humans, men above women. There was a similar hierarchy for society. This stated that the King would rule the country, men would rule women et cetera. It was seen to be sinful and unnatural for a woman to rule a man. In the play Lady Macbeth turns the order of the hierarchy as she seems to be the one ruling over Macbeth. It is not just Lady Macbeth who doesn’t fit into the hierarchy, the witches also do not fit into it because they can neither be classified as men or women because they have female characteristics but also have beards. Lady Macbeth is seen as a ‘fiend-like Queen’ because she plans the death of Duncan. In the 17th century it was ultimate evil to kill a king because people believed the king was chosen by God. When Lady Macbeth reads the letter by Macbeth she instantly decides that she will make Macbeth kill the king in order for the prophecy to come true. â€Å"That I may pour my spirits in thine ear†, Lady Macbeth says that she will try to influence Macbeth with evil thoughts, example given, death of Duncan so that he can become king because she knows that Macbeth will not do it without being influenced because of his nature. Throughout the play Lady Macbeth is in control and tells Macbeth what to do. We will write a custom essay sample on How Fiend Like Is Lady Macbeth specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on How Fiend Like Is Lady Macbeth specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on How Fiend Like Is Lady Macbeth specifically for you FOR ONLY $16.38 $13.9/page Hire Writer She manipulates Macbeth and questions him about his manhood when he decides it isn’t right to do something. Macbeth: If we should fail? Lady Macbeth: We fail? But screw your courage to the sticking-place, And we’ll not fail. She manipulates Macbeth into going through and murdering Duncan even though he had second thoughts. She knows that Macbeth’s manhood is central to his sense of his own identity so she questions it because she knows that in order to prove that he is a man he will do what she says. And live a coward in thine own esteem. Also she manipulates Macbeth because she knows that he won’t do anything due to his nature. When Lady Macbeth read the letter Macbeth sent her about the prophecies she knew that it was important for Duncan to be dead. Even though Lady Macbeth hasn’t met the witches at all she responds to the witches’ prophecy which was that Macbeth would be king. â€Å"Come, you spirits That tend on mortal thoughts! Unsex me here, Of direst cruelty; make thick my blood, Stop the access and passage to remorse† Lady Macbeth calls on the spirits of darkness and say to make her unwomanly. She uses phrases which are associated with women, â€Å"my milk† and says to turn it into â€Å"gall† this makes her unwomanly and therefore she doesn’t fit any category because she isn’t a man yet she won’t have any characteristics of a woman, she becomes almost like a witch because they also do not fit into any category and also witches are evil and she is calling upon evil to do this. She also says â€Å"Unsex me here† which means to take away all her feminine qualities again making her. She isn’t a â€Å"fiend-like queen† because she can’t hide what she feels when she sees Duncan’s dead body. She faints as soon as the people start asking Macbeth questions this making it easier for Macbeth and drawing attention away form himself because they can tell something is wrong. This is ironic in a way because the night when they were killing Duncan she wasn’t concerned at all but now she pretends to. If Lady Macbeth was really fiend-like then she would show no regret and have no conscience. At the beginning of the play after Duncan’s death, Lady Macbeth seems to be coping but after a while she cannot pretend that everything is all right and starts to give up acting. Lady Macbeth can no longer pretend and has to admit her feminine nature which is to be emotional and be affected by what she made Macbeth do. She had said for there to be dark when the evil deed was done, now Lady Macbeth has got to keep a light by her side â€Å"She has a light by her continually, ’tis her command†. This shows that now she is afraid of the dark as she had asked for there to be dark so that heaven couldn’t see what she was doing. She becomes driven made by guilt by the end of play. At the beginning she is calm and in control of everything she does. She starts sleepwalking and all she thinks about is the death of Duncan. Yet heres a spot †¦ Out, damned spot! Out, I say! †¦ What, will these hands neer be clean? †¦ Heres the smell of the blood still: all the perfumes Of Arabia will not sweeten this little hand. Lady Macbeth is no longer in control of what she does. She is paying the price. This eventually becomes too much for her to handle and commits suicide. If she was really fiend-like her conscious wouldn’t come back and haunt her. When Lady Macbeth dies Macbeth doesn’t mourn for her. â€Å"She should have dies hereafter; there would have been a time for such a word†. He doesn’t care that she’s dead he would’ve preferred if she dies later on. Lady Macbeth damned herself for Macbeth and now he doesn’t care. After Duncan’s death they became distant. Macbeth wouldn’t tell her about what he was planning to do. Also whatever Lady Macbeth asked to happened to her has happened to Macbeth. She asked for her to be fearless and now Macbeth has become fearless just like a warrior. On the battlefield he was always fearless. Over the years, the fear of being discovered gradually strips Macbeth of the ability to have any human emotions. He becomes a full knight, not just brave: but ruthless; not just bold, but cruel; not just ambitions, but stripped of all meaning or motive to hang on power. In my opinion I don’t think that Lady Macbeth is fiend-like because if you are fiend-like then you would have no emotions or guilt and Lady Macbeth does show this at the end of the play unlike her husband who doesn’t really care anymore. Also whilst planning Duncan’s death she says â€Å"Had he not resembled My father as he slept, I had done’t. † She still couldn’t bring herself to kill Duncan even though she had called on the evil spirits to help her do this because Duncan reminds her of her father when he sleeps.

Why do you want to attend ASDOH Essay Example

Why do you want to attend ASDOH Essay Example Why do you want to attend ASDOH Essay Why do you want to attend ASDOH Essay Being the only school of Dentistry and Oral Health in Arizona, I would consider it a personal honor if I am allowed to attend what is the most prestigious and premier dental school in the state. I have considered applying to and attending many out of state schools but my research has shown that no other school can come close to the benefits of studying at ASDOH. I want to become a student at this school because of the way the classes and students will always be community centered. That means that I will be able to put my volunteer learned skills to work while studying. I believe that dentistry is a job that requires the dental professional to have the abilities of patience and compassion in endless quantity and that ASDOH can teach and training me to become a future community and educational leader. I am a person who believes that hands on training beats theoretical training anytime. Which is why I am sure that I shall gain the most benefits out of the exemplary learning environment of the school. I believe that I am a perfect candidate for becoming a student at this school because of my ability to learn under any given condition with a team or alone. I have what is takes to succeed in this field not only because of my strict sense of self discipline, but also because after I have graduated with an ASDOH diploma under my belt, I will also have the most important qualities of compassion, community concern, and clinical experiences that ASDOH will have molded into each of their highly trained and capable graduates.

Prayer in Public schools Essay Example | Topics and Well Written Essays - 250 words

Prayer in Public schools - Essay Example The United States was established on freedom, and one of the freedoms was the freedom of worship or religion. America’s forefathers knew that there had to be a distinction between state and church. This allowed US citizens to practice any religion they chose and they would be no interference from the government. An overabundance of court cases has ruled that having school prayers is unconstitutional. Whereas, having school prayers funded by the administration is constitutional (Oak 1). Moms in prayer are among various groups that hold school prayers. Whereas, the Union of American Civil Liberties is opposed to school prayers. Prayers in school are a debate that has been ranging on since the 1960’s with the milestone case of Engle v. Vitale. This case found that the school wide petitioned prayer narrated by its students was unconstitutional. Various litigation ensued this ruling, whereby the school funded prayer was prohibited, such as during graduations and sporting events. Those that are for school prayer will argue that it allows for religious freedoms and brings back morality within schools (Oak 1). In addition, it allows students to express their right of the First Amendment. Those that are opposing school prayer will argue that one religion may go in contradiction of other religious opinions, with prayer the feeling of religion will be pushed upon them against their beliefs and that goes against their constitutional rights, and not everyone believes in a God. In conclusion, the issue â€Å"Should school prayer be allowed?" is proved justifiably to be "Yes, school prayer is permissible within particular considerations." In actuality, the question is usually an opinionated struggle to attain legislative authority by spiritual groups who wish for a selected system belief. This opinionated resistance does not deduce well into a limited disparity for or against school

Heroes in the Iliad Thesis Example | Topics and Well Written Essays - 1250 words

Heroes in the Iliad - Thesis Example Such a man is shown as suffering a change in fortune from happiness to misery because of a mistaken act, to which he is led by his hamartia (his ‘effort of judgment’) or, as it is often literally translated, his tragic flaw† (Abrams, 1999). There are two types of tragic heroes, those that are born into nobility with a tragic flaw inherent in their character who are therefore responsible for their own fate and doomed to make a serious error in judgment and those who have achieved great heights or esteem through hard work who eventually realize they have made a huge mistake causing them to face and accept their tragic death with honor. Examples of these tragic heroes can be found in Homer’s Iliad, in the characters of Hector and Achilles. Hector falls into this first category of tragic hero in every way. He is born into a noble family, being the son of King Priam of Troy and he continues to make the same tragic mistake in that he continues to take the credit f or his victories instead of giving honor and credit to the gods or goddesses that have taken his side. This can be seen in his taking credit for the retreat of Diomedes after Zeus threw a thunderbolt in front of Diomedes’ chariot to drive him away. ... However, Hector shows a great deal of courage and strength on the battlefield, earning himself honor and protecting the interests of his family and his people in the process. Being guided by Apollo, he eventually comes up against Patroklos wearing Achilles’ enchanted armor and strikes him down with seeming little trouble. This is because Patroklos has already been struck by Apollo, giving Hector the opening he needs to kill his adversary. With this victory on him â€Å"Hector has hope that they can finally defeat the enemy once and for all. Addressing his assembled troops, he says: ‘Would that I were immortal and ageless for all time, like Athena and Apollo, as surely as this day is bringing evil to the Greeks!’ Hector’s words show that he does not realize his own limitations and that he could never have been so successful without the help of Zeus† (Lefkowitz, 2003, p. 66) and the other gods. This overconfidence leads him to ignore the warnings of Ap ollo, who tells him not to go into hand to hand combat with Achilles and is slain because of his pride and overconfidence in his own abilities and counsel. Achilles, on the other hand, falls more into the second category of a tragic hero. Although it could be said that he was born into nobility of a sort because of his parentage, being the son of the water nymph Thetis and the mortal Peleus (a hero in his own right), Achilles is brought to his death by an error in judgment that leads him to quit the field of battle at a time when his countrymen needed him most. The Iliad starts off with the quarrel that leads Achilles to quit the war as Agamemnon seizes Achilles’ prize, the girl Briseis, in exchange for the princess Chryseis he is forced by Apollo to give up. When Agamemnon’s men come to take Briseis

Continuity Planning Overview Assignment Example | Topics and Well Written Essays - 750 words

Continuity Planning Overview - Assignment Example e role and task of Business Continuity manager also demand the induction of policies and procedures that may prove beneficial towards the continued business operations if something disastrous happens. The most important aspect of this role is to foresee and preempt the upcoming challenges that may hinder or cause delay in normal business operations. Wallace, Lawrence & Larry (2011) states, â€Å"The Business Continuity Manager leads the company’s planning and recovery efforts. This person’s duties encompass the entire program from assisting in editing plans for providing strategic leadership and vision.† After a detail analysis of the present policies and company wide procedures few changes are deemed essential to ensure pursuance of business continuity objectives in case of a serious calamity or disaster. Salman (2006) observes, â€Å"Identifying key problem areas during audits of business continuity plans can enhance an organizations disaster recovery efforts and ensure the quick return of business activities and services.† An immediate revamp of existing policies in following areas is suggested; A training program is required to be started immediately to educate employees on various concepts and philosophies related to business continuity. This will help to achieve a smooth transition from the existing policies and procedures towards an innovative strategic policy which is sustainable in extraordinary circumstances that the company may face in case of a disaster. The skepticism within the organizational setup needs to be addressed intelligently because the management and the Board are the core decision makers and their support is indispensable for a successful business continuity plan. It must be born in mind that the strategic plan for business continuity is an expensive decision and management can only buy this idea if they can understand the value of the investment. The presenter needs to roll out the new policies in an attractive package to ensure

Online sourcing

Online sourcing As we reach the end of the decade to what extent has online sourcing become a reality? The Internet has become a daily commonplace or even inevitability for businesses as well as it is for our individual needs. It enables us with numbers of possibilities and the new opportunities of its use are still coming up. This essay examines the role of the Internet in international and global sourcing and gives brief description of how the role is being changed or developed over the last decade. It also describes the benefits which come from using the Internet in sourcing activities. Yip and Dempster (2004) call the Internet as a driver of globalization. Its technological characteristics accelerate the globalization process. The Internet is decentralized network without any control so companies can use it to suit their own needs. It enables worldwide communication with no limitation by geographical distance. It is easy and low cost way to send and get information in real time from all over the world. Same authors summarise: â€Å"The Internet is highly complementary to the already trends that are forcing companies to become global, and at most a key driving force of the continued globalization of existing companies.† While international purchasing is simple buying process between buyer and seller from different countries, global sourcing has a wider meaning which includes worldwide integration and coordination of material, processes, technologies and suppliers. (Monczka, Trent, Handfield 2005). The majority of the companies, which decided to source globally, did it because of the motivation of getting the goods and materials as cheap as possible. However, Monczka, Trent, Handfield (2005) give us several other reasons for worldwide sourcing. Companies can get access to the latest product and process technology or they can obtain goods of higher quality. Some companies just follow the practices of competitor in order to remain cost competitive. The aims of global sourcing could be achieved easier with integration of right technology and one of it is the Internet. Lysons, Farrington (2006) use the word e-sourcing which refers to the use of the Internet in decision making process about the ways and locations from where products and services are obtained. Rapid development of information technology affects the all business activities and also in supply chain management the Internet has started to play significant role. Lancioni, Smith, Oliva (2000) argue that the Internet enables businesses to achieve the objectives of supply chain as decreasing the cost or improving communication, more quickly and effectively. According their research about the role of the Internet in supply chain management, companies use the Internet mostly for order processing, purchasing and communication with vendors. Next we closer explain the role of the Internet in sourcing activities. Lancioni (2003) says that the usage of the Internet in business could be multidimensional. He compares years 1999 and 2001 in his research and there is an overall increase of using the Internet in various business activities. According his research the biggest increase is in purchasing nearly by 50%. Firms realised benefits as lower labour expenses as purchasing department staff is reduced, due to computerising of purchasing process. Next area of growth is transportation from 56.2% to 84.3% of asked firms in 2001. Implementing technologies for tracking shipment, placing claims or fleet management improved productivity and lowered level of stock. The usage of the Internet for customer service rose by 15%. Firms improved respond time what accelerates problem solution. There is 12% increase in the use of the Internet for maintaining relationships with suppliers. Firms use application as online catalogues, e-mails, Internet exchanges. Both parties can be in closer touch and is easier to develop strategic partnership. Sourcing as â€Å"the process of identifying, selecting and developing supplier† (Lysons, Farrington, 2006) gives numerous opportunities to use the Internet in these activities even more if we consider sourcing in global context. In the term of identifying suppliers, the Internet represents an enormous source of information for buyer. Searching for the right suppliers has become easier and more cost effective. Barua, Ravindran and Whiston (1997) say that before the wide spread of Internet applications, supplier search using business directories, trade journal or yellow pages revealed only few results. Furthermore, much more focused group of suppliers can be made using the network databases as there is more information available on the Internet. Next, authors make statement about previous, present and future importance of the Internet. Electronic brochures of product and services with catalogues and price lists were the first applications of the Internet in business. Later, the re are search agents for finding the requested product and for comparison of prices. They predicted online processing of bids for products and services to take place in the future. Now, it is obvious that this became reality in the form of online reverse auction. Van Weele (2005) defines it as an auction where price is set by buyer and suppliers need to meet it. Roberts and Mackay (1998) mention that E-mails, searching tools and file transfer were the most used internet applications before. As the World Wide Web has started to play role, more and more companies set their own website to become visible in electronic world. These days, it is necessity for company to have its own webpage. It is a marketing tool and communication place. Customers, business partners and the third parities can easily get information about the company, look at lists of products or they can send their requirements via contact links. Besides going to website of individual supplier, there are numbers of suppliers portals (e.g. globalsources.com, purchasing.com, powersourcing.com) on the Internet where can buyer search for supplier according to required product, industry or country of supplier. Buyers are provided with product information and contact details of suppliers, some of portals offer a brief description of a company or there is a possibility to order or look to its catalogue as well as to contact supplier. Besides free accessible websites which offer lists of supplier from all over the world, there are also specialized marketplaces. Van Weele (2005) defines electronic marketplace as â€Å"a place on the Internet where actual transaction can take place between buyers and sellers†. UK national B2B centre presents on its website (unknown, 2009) various types of such markets and describes the range of services which they provide as lists of suppliers, electronic catalogues, online purchasing or online auction. General benefits of e-marketplaces include forming new trading partnerships or operating on a round-the-clock basis. An international e-market place gives opportunities which otherwise buyer would not be informed of. However, the first beliefs about e-market places and independent business exchanges were not meet as many e-market places failed. Sites were the Internet is used to target customer are the most successful (Tieman 2003, cited by Laseter). As we talk about the software equipment there are numbers of software programmes design for businesses to manage business activities electronically and over the Internet e.g. SAP, Oracle, Ariba. These programmes have also applications for e-procurement. Nowadays, investments to information technology are inevitable for each company which want to success internationally. Schalibly (2004) says: „Company that does not have electronic data cannot even begin to think about the global sourcing.â€Å" Also some companies refuse to cooperate with firm which do not meet their information technology requirements. Companies have recognised that and the investments to IT became the regular line item in their expenditure. Even more it is increasing every year. As the Internet provides us with number of supplier after the initial search, they can be both efficient and inefficient suppliers on the list. Therefore it is necessary to implement strategy for selection and evaluation of supplier. One possibility is to reduce selection according buyer requirements as price of product, size of company or number of years a company operates. Once buyer has a shortlist he can starts to evaluate suppliers. Buyers transaction cost would increase if he wants to evaluate all suppliers (Barua, Ravindran, Whiston, 1997). Trucker and Jones (2000) emphasize other important issues with selecting a supplier. These are using the right searching engines, intelligent agents and training procurement staff to guide the Internet effectively in order to minimize the irrelevant results. As far as developing relationships with suppliers is consider, the Internet is an important communication media. It supports these relationships as it is not costly and easy to connect. Even more, buyers have same opportunity if they deal with local or supplier from greater distance. We talk more about benefits of online communication later. As we mentioned above the Internet is widely used application in online sourcing. The main benefits include improving communication, getting better access to information or possibility to complete the entire purchasing process over the Internet. All these benefits results in cost saving enhance efficiencies and increase profit (Lancioni, Smith, Schau, 2002). Bartezzaghi and Ronchi (2005) give these benefits of applying e-sourcing. Buyer gets product for lower purchasing price and he achieves higher level of efficiency. Number of supplier also decreases by using e-sourcing tools. Communication over the Internet involves e-mails, website contact links and Internet exchanges. From global point of view, the possibility to communicate across the whole world and in different time zones represents the one of the main advantages which the Internet offers in global sourcing (Walters, 2007). Companies are able to contact supplier via E-mail on 24 hour basis as time zones barriers are removed. That was not possible before with using e.g. telephone lines. Sending documents and other files through the Internet became possible as now we have electronic data and electronic signature. Companies save time as sending takes few minutes while post delivery several days. There has also been improvement in customer service as customers can access company website or send requests any time. Results are in reduction of service costs and respond time (Lancioni, Smith, Oliva, 2000). Besides the advantages, there are issues as security and reliability which eliminates the potential use of the Internet. Walters (2007) conducts that as buyer and seller can contact directly via the Internet in a flexible and convenient way there is no need to us services of intermediaries. Transaction costs are reduced. One of the problems is protection of business emails with sensitive information against hackers (Roberts and Mackay, 1998). Although tools of online communication give advantages to salespersons they cannot replace their work. Deeter-Schmelz and Norman Kennedy (2004) argue that organization should design their website in the way to support sales representatives not to replace them. In fact, by using the Internet salesperson can get easier access to required information and by using of online sourcing tools they are free of paper work and they can concentrate on developing customer relationships. There is an example of effective communication system launched by Kia Motors (unknown 2002). The company introduced the distributor communication system in 2002 to connect subsidiaries, distributors with head office around the world through the Internet. The system enables to share information, placing orders or export document in real time. Achieved information from distributors helps KIA to establish strategy according the current market situation for the specific place. Distributors reduced their stock as they have better access to production and shipping information. Not least, trust has been built on both sides. The Internet presents an enormous pool of information and it is simple to create own appearance on this worldwide network. This is important in global sourcing as buyers have access to broader number of suppliers. On the other hand, buyers need to pay more attention to evaluate these suppliers. It is necessary to check their real presence, look for recommendation if they are new on the market or there is not enough information about them. The Internet allows completing the purchasing transaction online. Companies can use it from initial searching and contacting supplier through placing order to final payment of invoice. By doing so, decline of cost of transaction process can be achieved. Paper work is reduced as well as errors appear less. Notably, the whole process of ordering is done quicker. As a result of online purchasing in General Electric there has been a reduction of purchasing staff by 50%. Time period between sending order to receiving product decreased by 40% in the company (Lancioni, Smith, Oliva, 2000). The other benefits include informing vendors of changes in orders, checking the status of order or paying invoices electronically. Companies can track and plan shipment, schedule pickups and deliveries (Lancioni, Smith, Oliva 2000). Same authors give various examples of companies about using the Internet in supply chain management. By using the Internet for shipment scheduling, General Electric can more precisely and cost effectively deliver product on time to the customer. The Internet notifies Air Products and Chemicals of most suitable terminal and plant for serving customer as the company uses the Internet in global sourcing process. Roberts and Mackay (1998) in their article on the role of electronic commerce describe the anticipations coming from the use of the Internet. They talk about the possibilities for buyers as browsing in electronic catalogues, placing order or advancing bids. Suppliers could better organise their production and deliveries as they respond to bids. There are also the third parties which facilitate the marketplace. They offer services as supplier certification, referral, brokering and specialised directories. On the other hand, according to the research made by Deeter-Schmelz and Norman Kennedy (2004) about the usefulness of the Internet in supplier selection and relationship maintenance, statistic shows that buyers consider the Internet to be slightly important as an information source; the more useful sources are sales representatives or users of the product. In the area of selection supplier 42.6% of buyers say that the Internet does not play any important role. As far as communication and relationships with supplier are consider, the Internet is moderately or very important. Additionally, it has been more used in ongoing relationships than in initial stage of contacting supplier. The Internet has in global sourcing process its irreplaceable role. The main role is simple search and communication between buyer and supplier which lead to cost cutting and effectiveness. The Internet became like a â€Å"meeting place† for both supplier and buyer thus their active presence and involvement on this network is inevitable if they want to succeed. However, many expectations have become reality, some still remain in stage for future developing or were simply overrated. There are also activities and situation where human approach or face to face contact can not be replaced with technology. In term of sourcing it is the building trust and long term relationships with trade partners. Referencies 1. Bartezzaghi, E., Ronchi, S. (2005) E-sourcing in a buyer-operator-seller perspective: Benefits and criticalities, Production Planning and Control. Jun, 16 (4), pp.405-412 [online] Available from: 2. Barua, A., Ravindran, S., Whiston, A. (1997) Efficient selection of supplier over the Internet, Journal of management information system. 13 (4), pp.117-134 [online] Available from: 3. Deeter-Schmelt, D.R., Norman Kennedy, K. (2004) Buyer-seller relationships and information sources in an e-commerce world, Jornal of Business and Industrial Marketing. 19 (3), pp. 188-196 [online] Available from: 4. Lancioni, R., Smith, M., Jensen Schau, H. (2003) Strategic Internet application trends in supply chain management, Industrial Marketing Management. 32 (3), pp. 211 217 [online] Available from: 5. Lancioni, R., Smith, M., Oliva, T. (2000) The role of the Internet in supply chain management, Industrial Marketing Management. 29, pp. 45-56 [online] Available from: 6. Lysons, K., Farrington, B. (2006) Purchasing and Supply Chain Management. 7th ed. Essex: Perrson Education limited, p.367 7. Monczka, R., Trent, R., Handfield, R. (2005) Purchasing and Supply Chain Management. 3rd ed. Southwestern: Thomson, p.304, 306-308 8. Roberts, B., Mackay, M. (1998) IT supporting supplier relationships: The role of electronic commerce, European Journal of Purchasing and Supply Management. 4, pp.175-184 [online] Available from: 9. Schaibly, L. S. (2004) Making global sourcing asuccess, World Pumps. March, pp.34-36. [online] Available from: 10. Tieman, R. (2003) E-procurement and E-sourcing: Corporate buyers show stronger interest in cost saving online system, Financial Times. November 24, p.3 11. Trucker, D, Jones, L. (2000) Leveraging the power of the Internet for optimal supplier sourcing, Industrial Journal of Physical Distribution and Logistic Management. 30 (3-4), pp. 255-267 [online] Available from: [Accessed 21.11.2009] 12. Van Weele, A. (2005) Purchasing and Supply Chain Management. 4th ed. London: Thomson Learning, p.169-171 13. Walters, P., (2008) Adding value in global B2B supply chains: Strategic directions and the role of the Internet as e driver of competitive advantage, Industrial Marketing Management. 37, pp. 59-68 [online] Available from: Science direct [Accessed 21.11.2009] 14. Yip, G., Dempster, A. (2004) Using the Internet to enhance global strategy, European Management Journal. 23 (1), pp. 1-13 [online] Available from: Science direct [Accessed 21.11.2009] 15. unknown 2008 E-marketplaces, online auctions and exchanges [Accessed 21.11.2009] 16. unknown, (2002)Kia Motors to launch Kia Distributor Communication System [Accessed 21.11.2009]

Teacher Quality in Education Essay -- essays papers

Teacher Quality in Education Teacher quality has a major influence on how the students will learn and perceive the information given. As time has gone by, teachers have gone through many things that can help them become better teachers. There are tests in which to certify them and to make sure that they can teach to their best ability. In some cases, even if a teacher is certified they might not be fully interested in their teaching so the students might not be getting the full attention that they need and they might not be working to the best of their abilities. They feel that if the teacher isn’t showing interest, then why should they. Teacher burnout is something that occurs in teachers when they become disinterested in their teaching. All of these things are major factors in teacher quality and this essay will prove how these aspects lead to either positive or negative teacher quality. Throughout history it has been a long process in getting teachers to be certified. â€Å"In 1858, the superintendent first authorizes that teachers need to be certified. In the year of 1873, the state board of education created an examination that teachers needed to pass in order to be certified within the school systems. In 1876, the board of education of cities of the first and second class were authorized to certify teachers. In 1893, the state board of education authorized to substitute credit from approved colleges for examination in those subjects as qualification for the certification of teachers. In 1909, the state board of education authorized to issue certificates to high school graduates completing high school normal training courses and passing a state examination. In the year of 1915, the legislature set Bachelor degr... ... 8, 2003. http://npin.org/pnews/2001/pnew1101/int1101d.html This article states that how a teacher teaches their students affects their abilities in and out of the classroom. The article also gives ideas on how parents can get involved and make sure that the kids are getting the best education that they can. Klicka, C. (2003). The Myth of Teacher Qualifications. Obtained from the internet on November 8, 2003. http://www.hslda.org/docs/nche/000002/00000214.asp This article is stating the things that help to make a teacher more qualified to teach. It also says that even some qualified teachers should not be qualified because they aren’t putting their greatest effort into it. No Author Stated. (2002). Teacher Certification. Obtained from the internet on November 8, 2003. http://www.kckps.org/disthistory/state_school_history/tchr_certification.htm Teacher Quality in Education Essay -- essays papers Teacher Quality in Education Teacher quality has a major influence on how the students will learn and perceive the information given. As time has gone by, teachers have gone through many things that can help them become better teachers. There are tests in which to certify them and to make sure that they can teach to their best ability. In some cases, even if a teacher is certified they might not be fully interested in their teaching so the students might not be getting the full attention that they need and they might not be working to the best of their abilities. They feel that if the teacher isn’t showing interest, then why should they. Teacher burnout is something that occurs in teachers when they become disinterested in their teaching. All of these things are major factors in teacher quality and this essay will prove how these aspects lead to either positive or negative teacher quality. Throughout history it has been a long process in getting teachers to be certified. â€Å"In 1858, the superintendent first authorizes that teachers need to be certified. In the year of 1873, the state board of education created an examination that teachers needed to pass in order to be certified within the school systems. In 1876, the board of education of cities of the first and second class were authorized to certify teachers. In 1893, the state board of education authorized to substitute credit from approved colleges for examination in those subjects as qualification for the certification of teachers. In 1909, the state board of education authorized to issue certificates to high school graduates completing high school normal training courses and passing a state examination. In the year of 1915, the legislature set Bachelor degr... ... 8, 2003. http://npin.org/pnews/2001/pnew1101/int1101d.html This article states that how a teacher teaches their students affects their abilities in and out of the classroom. The article also gives ideas on how parents can get involved and make sure that the kids are getting the best education that they can. Klicka, C. (2003). The Myth of Teacher Qualifications. Obtained from the internet on November 8, 2003. http://www.hslda.org/docs/nche/000002/00000214.asp This article is stating the things that help to make a teacher more qualified to teach. It also says that even some qualified teachers should not be qualified because they aren’t putting their greatest effort into it. No Author Stated. (2002). Teacher Certification. Obtained from the internet on November 8, 2003. http://www.kckps.org/disthistory/state_school_history/tchr_certification.htm

International Markets Essay

Once SAB Miller has decided to establish itself in the global market, it becomes necessary for the marketing manager to study and analyze the various options available to enter the international markets and select the most suitable one. The selection of the entry mode is one of the most significant decisions.SAB Miller takes in the process of internationalization, as it involves commitment of resources with long-term financial and structural implications. Mode of entry may be defined as an institutional mechanism by which a firm makes its products or services available to consumer in international markets. Root (1994) defines the market entry for international markets as a comprehensive plan which sets forth the objectives,goals,resources,and policies that guide a company’s international business operations over a future period long enough to achieve sustainable growth in world markets. FACTORS AFFECTING THE SELECTION OF ENTRY MODE EXTERNAL MODES MARKET SIZE:Market size is one of the key factors an international marketer has to develop to keep in mind when selecting an entry strategy.Countries with a large market size justify the modes of entry with investment,such as wholly owned subsiaries or equity participation. MARKET GROWTH:Most of the large,established markets,such US,Europe and Japan,have more or less reached a point of saturation for consumer goods such as automobiles,consumer electronics.Therefore,the growth of markets in these countries is showing a declining trend.For instance,the overall growth in most of the US and European market is about 7% while emerging markets like India and China is over 30% which indicates tremendous market potential in time to come. Therefore,from the perspective of long-term growth potential such as China,India,Thailand,Indonesia etc.These markets are also termed emerging markets. GOVERNMENT REGULATIONS:The selection of market entry modes to a great extent affected by the legislative framework of the overseas market,the government of most of the Gulf countries have made it mandatory for foreign firms to have local partner.For instance,the UAE is a lucrative market for Indian firms but most firms operate there with a local partner. Trade barriers such as ecological regulations and local content requirements also affect the mode of entry.It has been a major reason for  increased foreign investment in Mexico,which is a part of the North American Free Agreement(NAFTA),in order to cater to the US market. LEVEL OF COMPETITION:Presence of competitors and their level of involvement in an overseas market is another crucial factor in deciding on an entry mode so as to effectively respond to competitive market force.This is one of the major reasons behind auto companies setting up their operations in India and other emerging markets so as to effectively respond to global competition. INTERNAL MODES COMPANY OBJECTIVES:Companies operating in domestic markets with limited aspirations generally enter foreign markets as a result of a reactive approach to international marketing oppurtunities.In such cases,companies receive unsoliated orders from acquaintances,firms and relatives based abroad,and they attempt to fulfil these export orders.This casual approach to entering international markets by way of producing in the homemarket and exporting overseas translates into regular exporting if the firm has positive experience in its exports operation. AVAILABILTY OF COMPANY RESOURCES:Venturing into international markts needs substantial commitment of financial and human resources and therefore choice of an entry mode depends upon the financial strength of a firm.It may be observed that Indian firms with good financial strength have entered international markets by way of wholly owned subsidiaries or equity participation. LEVEL OF COMMITMENT:In view of the market potential,the willingness of the company to commit resources in a particular market also determines the entry mode choice.Companies need to evaluate various investment alternatives in a particular market also depends upon the way the company is willing to perceive and respond to competitive forces. INTERNATIONAL EXPERIENCE:A company well exposed to the dynamics of the international marketing environment would be at ease when making a decision regarding entering into international markets with a highly intensive mode of entry such as joint venture and wholly owned subsidiaries. Below are different modes of market entry and they include: EXPORTING Exporting is the simplest method of entering a foreign market.It is the  process of sending goods or services from country to other countries for use or sale there. By exporting to a foreign country,a company is able to enter this country without actually establishing itself in the country.The company must simply manufacture products that can be shipped to the foreign country.Export activities may take several forms,including indirect exporting,direct exporting,and intracorporate transfers. Direct exports represent the most basic mode of exporting, capitalizing on economies of scale in production concentrated in the home country and affording better control over distribution. Direct export works the best if the volumes are small. Types of direct exporting are: Sales representatives – that represent foreign suppliers/manufacturers in their local markets for an established commission on sales. Provide support services to a manufacturer regarding local advertising, local sales presentations, customs clearance formalities, legal requirements. Importing distributors – purchase product in their own right and resell it in their local markets to wholesalers, retailers, or both. Indirect Exporting Indirect export is the process of exporting through domestically based export intermediaries. Indirect methods of exporting requires less marketing investment, but, as the exporter has no control over its products in the foreign market, the company lose substantial control over the marketing process. Types or methods of indirect exporting are: Filling orders from domestic buyers who then export the product Seeking out domestic buyers who represent foreign customers Exporting through an Export Management Company (EMC) Exporting through an Export Trading Company (ETC) INTRACORPORATE TRANSFERS A third form of export activity is the intracorporate transfer,which has become more important as the sizes of MNCs have increased.An intracorporate transfer is the sale of goods by a firm in one country to an affiliated firm in another. LICENCING License is a contract to identify what is being licensed: trademarks, patents, designs, copyrights or software. Licensing allows rapidly entering into the chosen foreign market and reduces capital requirements to establish manufacturing facilities overseas. Your contract does not violation of the host country’s existing laws and regulations.a licensor in the home country makes limited rights or resources available to the licensee in the host country. The rights or resources may include patents, trademarks, managerial skills, technology, and others that can make it possible for the licensee to manufacture and sell in the host country a similar product to the one the licensor has already been producing and selling in the home country without requiring the licensor to open a new operation overseas. The licensor earnings usually take forms of one time payments, technical fees and royalty payments usually calculated as a percentage of sales. As in this mode of entry the transference of knowledge between the parental company and the licensee is strongly present, the decision of making an international license agreement depend on the respect the host government show for intellectual property and on the ability of the licensor to choose the right partners and avoid them to compete in each other market. Licensing is a relatively flexible work agreement that can be customized to fit the needs and interests of both, licensor and licensee. Franchising The franchising system can be defined as: â€Å"A system in which semi-independent business owners (franchisees) pay fees and royalties to a parent company (franchiser) in return for the right to become identified with its trademark, to sell its products or services, and often to use its business format and system. Compared to licensing, franchising agreements tends to be longer and the franchisor offers a broader package of rights and resources which usually includes: equipment, managerial systems, operation manual, initial trainings, site approval and all the support necessary for the franchisee to run its business in the same way it is done by the franchisor. In addition to that, while a licensing agreement involves things such as intellectual property, trade secrets and others while in franchising it is limited to trademarks and operating know-how of the business. TYPES OF FRANCHISES There are three available types of franchises.The first type is the dealership,a form commonly found in the automobile industry.Here,the manufacturers use franchises to distribute their product lines.These dealership act as the retail stores for the manufacturer.In some distance,they are required to meet quotas established by the manufacturers,but as is the case for any franchise,they benefit from advertising and management support provided by the franchisor.The most common type of franchise is the type that offers a name,image and method of doing business,such as McDonald’s,KFC,Holiday Inn. There are many of these types of franchises,and their listings,with pertinent information can be found in various sources. A third type of franchise offers services.These include personnel agencies,income tax preparation companies and real estate agencies.These franchises have established names and reputation and methods of doing business.In some distances,such as real estate,the franchisee has actually been operating a business and then applies to become a member of the franchise. CONTRACT MANUFACTURING Contract manufacturing refers to a situation where a business will engage the services of an independent party to perform a specified duty for the business. In terms of manufacturing, contract manufacturing refers to a situation where a manufacturer will engage the services of an independent party to perform a specified job. There are various reasons for this type of engagement by manufacturers, all of which involve the maximization of profit. The process of contract manufacturing also has some negative considerations that include the risk of uncertainty and lack of control over the process. WHOLLY OWNED SUBSIDIRIES Entering a foreign market with a wholly owned subsidiary involves creating a local firm without the aid of a local partner. There are two ways of doing this. The first is through what is called greenfield development. This involves creating a new organization in the foreign country from the ground up. The second method is what is referred to as brownfield development. This involves purchasing an existing company in a foreign country. Brownfield developments can be beneficial because they offer local expertise, but they can be difficult because there may be resistance from those in the company  to new ownership. JOINT VENTURE A market entry option which the exporter and a domestic company in the target country join together to form a new incorporated company. Both parties provide equity and resources to the JV and share in the management, profits and losses. The JV be limited to the life of a particular project. This option is popular in countries where there are restrictions on foreign ownership, eg. China and Vietnam PIGGYBACKING Piggyback marketing – low cost market entry strategy in which two or more firms represent one another’s complementary (but non-competing) products in their respective market. Or, in other words, it is an arrangement, where two or more companies help each other to market their products, where the products have to be complementary and not competing against each other. LEVEL OF INVOLVEMENT IN INTERNATIONAL MARKETS No direct foreign marketing: A company in this stage does not actively cultivate customers outside national boundaries; however this company’s products may reach foreign markets. Sales may be made to trading companies as well as foreign customers who come directly to the firm. Or products may reach foreign markets via domestic wholesalers or distributors who sell abroad without explicit encouragement or even knowledge of the producer. As companies develop web sites on the internet, many receive orders from international Web surfers. Often an unsolicited order from a foreign is what piques the interest of a company to seek additional international sales. Infrequent Foreign marketing: Temporary surpluses caused by variations in production levels or demand may result in infrequent marketing overseas. The surpluses are characterized by their temporary nature; therefore sales to foreign markets are made as goods are available, with little or no intention of maintaining continuous market representation. As domestic demand increases and absorbs surpluses, foreign sales activity is withdrawn. In this stage, little or no change is seen in company organization or product lines. However, few companies today fit this  model because customers around the world increasingly seek long term commercial relationships. Further, evidence exists that financial returns from initial international expansions are limited. Regular Foreign marketing: At this level, the firm has permanent productive capacity devoted to the production of goods to be marketed in foreign markets. A firm may employ foreign or domestic overseas intermediaries or it may have its own sales force or sales subsidiaries in important markets. The primary focus of operations and production is to service domestic market needs. However, as overseas demand grows, production is allocated for foreign markets, and products may be adapted to meet the needs of individual foreign markets. Profit expectations from foreign markets move from being seen as a bonus to regular domestic profits to a position in which the company becomes dependent on foreign sales and profits to meet its goals. International marketing International marketing is the export, franchising, joint venture or full direct entry of a marketing organization into another country. This can be achieved by exporting a company’s product into another location, entry through a joint venture with another firm in the target country, or foreign direct investment into the target country. The development of the marketing mix for that country is then required – international marketing. It can be as straightforward as using existing marketing strategies, mix and tools for export on the one side, to a highly complex relationship strategy including localization, local product offerings, pricing, production and distribution with customized promotions, offers, website, social media and leadership. Internationalization and international marketing meets the needs of selected foreign countries where a company’s value can be exported and there is inter-firm and firm learning, optimization and efficiency in economies of scale and scope. The firm does not need to export or enter all world markets to be considered an international marketer. Global Marketing Global marketing is a firm’s ability to market to almost all countries on the planet. With extensive reach, the need for a firm’s product or services is  established. The global firm retains the capability, reach, knowledge, staff, skills, insights, and expertise to deliver value to customers worldwide. The firm understands the requirement to service customers locally with global standard solutions or products, and localizes that product as required to maintain an optimal balance of cost, efficiency, customization and localization in a control-customization continuum to best meet local, national and global requirements to position itself against or with competitors, partners, alliances, substitutes and defend against new global and local market entrants per country, region or city. The firm will price its products appropriately worldwide, nationally and locally, and promote, deliver access and information to its customers in the most cost-effective way. The firm also needs to understand, research, measure and develop loyalty for its brand and global brand equity (stay on brand) for the long term. b)OULINE ADVANTAGES AND DISAVANTAGES OF EACH STRATEGY. Advantages of direct exporting: -Control over selection of foreign markets and choice of foreign representative companies. -Good information feedback from target market. -Better protection of trademarks, patents, goodwill, and other intangible property. – Potentially greater sales than with indirect exporting. Disadvantages of direct exporting: – Higher start-up costs and higher risks as opposed to indirect exporting; – Greater information requirements; – Longer time-to-market as opposed to indirect exporting. Advantages of the international franchising mode: -Low political risk -Low cost -Allows simultaneous expansion into different regions of the world -Well selected partners bring financial investment as well as managerial capabilities to the operation. Advantages of indirect exporting -It’s an almost risk-free way to begin. -It demands minimal involvement in the export process. -It allows you to continue to concentrate on your domestic business. -You  have limited liability for product marketing problems — there’s always someone else to point the finger at! -You learn as you go about international marketing. -Depending on the type of intermediary with which you are dealing, you don’t have to concern yourself with shipment and other logistics. Disadvantages of indirect exporting: -Your profits are lower. -You lose control over your foreign sales. -You very rarely know who your customers are, and thus lose the opportunity to tailor your offerings to their evolving needs. -When you visit, you are a step removed from the actual transaction. You feel out of the loop. -The intermediary might also be offering products similar to yours, including directly competitive products, to the same customers instead of providing exclusive representation. -Your long-term outlook and goals for your export program can change rapidly, and if you’ve put your product in someone else’s hands, it’s hard to redirect your efforts accordingly. Advantages of licensing -Obtain extra income for technical know-how and services -Reach new markets not accessible by export from existing facilities -Quickly expand without much risk and large capital investment -Pave the way for future investments in the market -Retain established markets closed by trade restrictions -Political risk is minimized as the licensee is usually 100% locally owned -Is highly attractive for companies that are new in international business. Disadvantages of licensing -Lower income than in other entry modes -Loss of control of the licensee manufacture and marketing operations and practices leading to loss of quality -Risk of having the trademark and reputation ruined by an incompetent partner -The foreign partner can also become a competitor by selling its production in places where the parental company is already in. -investment to attract prospects and support and manage franchisees. Advanatges of Frachising -Franchising provide knowledge of the local markets. A franchise provides franchisees with a certain level of independence where they can operate their business. A franchise provides an established product or service which may already enjoy widespread brand-name recognition. This gives the franchisee the benefits of a pre-sold customer base which would ordinarily takes years to establish. A franchise increases your chances of business success because you are associating with proven products and methods. Franchises may offer consumers the attraction of a certain level of quality and consistency because it is mandated by the franchise agreement. – Disadvantages of franchising: -Franchisees may turn into future competitors. -Demand of franchisees may be scarce when starting to franchise a company, which can lead to making agreements with the wrong candidates -A wrong franchisee may ruin the company’s name and reputation in the market -Dependence on franchisee. -Potential conflicts with franchisee. Advantages of Joint Venture: -Accessing additional financial resources – Asset sharing is one of the best advantages about joint venture. Since, you are able to use larger funds to facilitate the production and operation of projects and products, you facilitate growth. In other words, you increase profit margin and increase your revenue potential. -Sharing the economic risk with co-venturer – It pays to have someone sharing the responsibility with you in case you end up in deep troubles. This is also true with joint venture. Since you are sharing assets, the risk of losing a great deal of money is divided to both parties. -Widening economic scope fast – Building reputation is often difficult, not to mention time consuming and expansive. At a joint venture, you are able to widen your economic scope without spending too much money and waiting for a long time. – Tapping newer methods, technology, and approach you do not have – In order to grow and expand, you need resources in the forms of methods, technology, and approach. For that matter, it would help a lot if you will be able to partner with an entity that presently has the things you don’t and the things you need. Joint venture opens up the venue for such need. -Building relationship with vital contacts – Aside from economic territory, another advantage of joint venture is the ability to give you business relationships with vital contacts. This is just like automatically befriending your partner’s influential friend that can give you access to lots of things such as business opportunities and a pass to vital information. Disadvantages of Joint Venture: -Shared profit – Since you share assets, you also share the profit. The profit of both parties usually depends on the size of the share to the venture or may be defined on the agreement. -Diminished control over some important matters – Operational control and decision making are sometimes compromised in joint ventures. Since there is an agreement that divides which one will take over a particular operation, the other may not be satisfied with how the things are worked out with another. This leads us to another disadvantage of a joint venture. -Undesired outcome of the quality of the product or project – Since one party may not have control on the supervision of the production or the execution of one part of the system, this can happen. This often leads to disputes and lawsuits. To avoid this, both parties agree on specific details about the whole operation process. -Uncontrolled or unmonitored increase in the operating cost – Again, defined control over the operation may lead to this disadvantage. It is important therefore to make sure that all things are clarified on the paper before singing in the joint venture agreement. Advantages of contract manufacturing -Low financial risks – contract manufacturing allows companies to save costs by manufacturing a particular item at a cheaper rate than what it would cost them If they decided to undertake the manufacturing process themselves. – it allows the company doing the outsourcing to shave some time off the whole process, giving them quicker returns and turnovers. – Where a company is less effective than another in manufacturing an item, contract manufacturing will allow it to concentrate on that in which it is the most efficient. Disadvantages of contract manufacturing -Reduced learning potential -Potential public relations problems may need to monitor working conditions. -The company doing the outsourcing faces some degree of risk if it fails to do its research properly. This is because outsourcing the manufacturing to the wrong company could end up costing the company more, rather than less, if the outsourced company fails to deliver as expected. Advantages of wholly owned subsidiaries On the positive side, a wholly-owned subsidiary that does its business in a location different from the parent company’s is able to remain in its locale. With the business world spanning so many countries, this can serve as a great advantage in international situations. Name recognition is another positive reason for maintaining a wholly-owned subsidiary. If a particular brand name is well known and popular, the parent company has no reason to absorb the subsidiary entirely. Wholly-owned status allows the subsidiary to retain its name brand, thus avoiding hindering its sales. Diversity for the parent company is another perk created by maintaining a wholly-owned subsidiary. This status allows the parent company to branch out into different products and markets, building strength in diversification. Disadvantages of wholly owned subsidiaries a wholly-owned subsidiary are more business oriented. The holding company runs a definite risk in assuming control of another company while allowing its management to continue to operate independently of the parent company’s. The level of investment and allocation of funds and resources required is also very high. A parent company must spend a great deal of time and money to smoothly integrate the new subsidiary.All of these factors require commitment and dedication on the part of the holding company and willingness to form that partnership on the part of the subsidiary. Advantages of piggybacking reduced financial costs limited risk quick, easy access to the market. Generally, the supported company can make immediate profits on the new market. The SME can, thus save time (3-5 years), compared to the normal length of time necessary to establish itself ; reduced logistical and administrative operations ; benefit of the brand image that the supporting company brings to its products ; immediate availability of a sales force structure ; excellent market knowledge of the supporting company. Disadvantages of piggybacking weak motivation of large companies to become supporters ; difficulty in finding partners offering a compatible product and distribution network ; risk of market loss, which can be reduced due to the complementarity of the product, and commercial follow-up between the partners ; occasional difficult relations because of differences in size or culture ; risk of lack of mutual confidence and of lack of involvement ; risk of conflict of interest (e.g. local agents could systematically put the interests of the supporting company before those of the supported company) ; occasional very rigid requirements and conditions of access to the commercial networks of large companies. These conditions can be qualitative (e.g.: product quality) and quantitative (minimum level of annual turnover, high commissions, etc.). Macro Environmental Influences That Can Affect SAB Millers SABMiller’s origins date back to the foundation of Castle Breweries in 1895 as to serve a growing market of miners and prospectors in and around Johannesburg, South Africa. Two years later, it became the first industrial company to list on the Johannesburg Stock Exchange and the year after (1898) it listed on the London Stock Exchange. From the early 1990s onwards, the company increasingly expanded internationally, making several acquisitions in both emerging and developed markets. In 1999, it formed a new UK-based holding company, SAB plc, and moved its primary listing to London. In May 2002, SAB plc acquired Miller Brewing, forming SABMiller plc. It is very important that SAB Miller considers its environment before going into international the market. In fact, environmental analysis should be continuous and feed all aspects of their planning to go international The macro-environment refers to the major external and uncontrollable factors that influence an organization’s decision making, and affect its performance and strategies. These factors include the Political (and legal) forces, Economic forces, Sociocultural forces, and Technological forces. These are known as the PEST factors. PEST Analysis Political Factors: The political environment revolves around the current government in a particular country in which SAB Miller manufactures or trades, and also laws/legislation operate or within their home market as well as overseas. If their government is socialist then perhaps there is a policy to tax more and to invest in the public sector. On the other hand if SAB Millers have a more conservative or Republican government then the free-market is left to take control, taxation is less and there is often a smaller public sector. The political arena has a huge influence upon the regulation of the business, and the spending power of consumers and other businesses. SAB Miller must consider issues like: †¢How stable is the political environment in that country? †¢Will government policy of that country influence laws that regulate or tax SAB Miller? †¢What is the government’s position on marketing ethics? †¢What is the government’s policy on the economy? †¢Does the government have a view on culture and religion? †¢Is the government involved in trading agreements such as EU, NAFTA, ASEAN, or others? Economic Factors The economic environment is a direct influence on all businesses. Obviously if you are studying marketing there is a huge element of economics within the topic itself, and you should be no stranger to the principles of economics. As we saw from our lesson on the marketing environment there is a macro environment, and internal environment and the microenvironment. More specifically you’ll be at looking elements such as where a business is in terms of the current business cycle, and whether or not they are trading in a recession. SAB Millers marketers need to consider the state of a trading economy in the short and long-terms. This is especially true when planning for international marketing. You need to look at: 1. Interest rates. 2. The level of inflation Employment level per capita. 3. Long-term prospects for the economy Gross Domestic Product (GDP) per capita, and so on. Sociocultural Factors The Sociocultural environment embodies everything which is social and cultural within a nation or society. There are plenty of examples of society and culture on the marketing teacher website, so we recommend that you go to our lesson store and look through some of the consumer behaviour pages. Some notable examples would include the influence of learning, memory, emotion and perception, motivation, lifestyle and attitude and consumer culture. Have a look at the six living generations in America, social environment and class, the impact of your birth order on how you behave as a consumer and take a look at the eight types of online shoppers. In a more general sense consider influences such as the increase in life expectation of Western consumers, and demographics which is the study of populations. The social and cultural influences on business vary from country to country. It is very important that such factors are considered. Factors include: 1. What is the dominant religion? 2. What are attitudes to foreign products and services? 3. Does language impact upon the diffusion of products onto markets? 4. How much time do consumers have for leisure? 5. What are the roles of men and women within society? 6. How long are the population living? Are the older generations wealthy? 7. Do the population have a strong/weak opinion on green issues? Technological Factors Technological factors are a multifaceted influencer. Let’s just think about the sorts of technology that you come in touch with almost daily. Smart phones such as Android and iphone are now common – all – garden, and we are used to being able to access information and communication technology instantly no matter where we are. During studies or at work we have access to information on quick PCs and over the Internet, with faster broadband connections arriving in many parts of the world. Technology also surrounds business processes. As we saw from our lesson on the functions within an organisation all departments use information technology or technology in one form or another. Our manufacturing operations will use technology to produce goods and services. Our logistics and warehousing functions use forklifts and Lorries as well as order tracking technology and software. The customer service department will use communication technology to talk to customers but will also have access to internal systems, such as technology to simplify credit control and stock control for example. There are many, many more examples of technology. Technology is vital for competitive advantage, and is a major driver of globalization. Consider the following points: 1. Does technology allow for products and services to be made more cheaply and to a better standard of quality? 2. Do the technologies offer consumers and businesses more innovative products and services such as Internet banking, new generation mobile telephones, etc? 3. How is distribution changed by new technologies e.g. books via the Internet, flight tickets, auctions, etc? 4. Does technology offer companies a new way to communicate with consumers e.g. banners, Customer Relationship Management (CRM), etc?