Humanities Baroque free essay sample

Indication of the Baroque Period Roughly around the backtalk to backtalk, the Baroque time frame woke up bringing increased nature, and progressively close to home and enthusiastic articulation to workmanship. It began in Italy and spread out like a plaque all through Europe, the Americas. What's more, Spain. Everything from workmanship to writing and even music was progressively showy and was given more feelings. Catholicism was for the most part being reflected off of the Baroque expressions. Sensational strict artistic creations were being made Literature was being written In a manner that It will be memorable.The King James disintegration of the Bible impactsly affected expressions of the human experience. It was done In 161 1 and was viewed as the most Important change In English writing and printing (Risen). It was set to change the whole English language and keep the passionate impact. The new interpretation of Scripture saved the otherworldly intensity of the Old Testament Hebrew and the account force of the New Testament Greek (Hero 62). We will compose a custom article test on Humanities Baroque or then again any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The King James Version was a major piece of the Baroque time frame in light of the fact that was a bit of writing that had increased passionate words and could really be seen erectly by the reader.In Baroque work of art, watchers can envision the enthusiastic effect the canvas has. Everything is in real life and the artistic creation resembles shot in whats going on. In Aggravations The Crucifixion of Saint Peter, everything is painted right in the center of the execution. Holy person Peter isn't up yet however sincerely busy arriving. The canvas is initiated and has complex developments. Gravity has an exceptionally ground-breaking pull In this image too. Watchers can see the feeling In Saint Pewters face that he Is frightened however brave.Aggravating tried to recount to a story In this artistic creation with feeling since you see a poor, honest, and destitute looking man being killed. Everything from the folks filthy feet and base who lifting up Saint Peter is essentially standing out to the watchers face. The three men don't appear there face as they kill Saint Peter and it adds puzzle with regards to who might do such a demonstration. Everything from the nails In Saint Pewters hands to the earth on their feet is genuine and engaging. Light Is underlined In this painting too in view of the dark background.The Baroque period and Its work of art gave out genuine feeling while the activity is going on. All the strain in one artwork is tossed into the watchers faces (Hero). Music in the Baroque time frame encircle itself with cadence, song, terraced elements, surface, and basses. Arrangers would communicate feelings and warmth in their music and split away from the Medieval occasions by utilizing vocal and Instrumental music. A well known arranger In the Baroque time frame was Johann Sebastian Bach. He used to for the most part church music however then built up an increasingly melodic potential for the concerto form.The best created tune in his profession was known as The Art of Fugue. A fugue is a polyphonic structure wherein a solitary melodic topic is repeated in successive expressions (Firer). Florid music got feelings and even audience members who dont even comprehend the brightness piece of Bach, can grow an adoration for his music Just tuning in to It. Music. It perpetually changed writing and the English language for individuals to comprehend it better and can be moved by the words in text rather than Just understanding it. Works of art were profoundly made with such feeling and let watchers see the fine art in real life.

Service Marketing Organization Theory

Question: Talk about the Service Marketingfor Organization Theory. Answer: Presentation: The primary reason for this contextual investigation is to comprehend the pertinence of QR codes in the administration segment. The advertising openings and potential points of interest of QR codes are additionally talked about in this investigation. The apparent dangers related with items for purchasers on use of QR codes concerning administration industry are likewise talked about for this situation study. The future substitutes like AR, NFC, Google goggles or Snap tag for QR codes that can improve business tasks of administration area and clients fulfillment are likewise examined in this examination. The phase at which clients needed to get enough data about the items or administrations they needed to buy or use is the critical stage for utilization of QR codes during the time spent shoppers dynamic. The information identified with items is key component during the shoppers dynamic and utilization of QR codes will be noteworthy for conveying the data as indicated by need (Higgins et al, 2014). QR codes will have the option to give enough data about items nature. The item data given by the QR codes is reliable in nature as indicated by data search and furthermore goes about as essential strategy to decrease the dangers during the item buy choice by the purchasers. Speculations of equalization scorecard and showcasing blend are additionally most significant components that give the data identified with item or administrations to the buyers. Equalization scorecard will empower shoppers about their needs identified with items and furthermore proposes suitable activities to buy the ideal items (Babin and Zikmund, 2015). Showcasing blend additionally gives customers enough information identified with items or administrations they wanted to buy and furthermore gives data identified with all characteristics of the items with data of assembling organization also. There are a few promoting business chances of QR codes in administration division that encourages the business to develop in effective way. QR codes can be connected to give establishment data. These can likewise gives source data identified with parts or administrations that should be supplanted. These likewise help in coordinating to the business tasks and furthermore help the organizations in employing proficient for business. These codes are additionally utilize important coupons or uncommon proposals for any business to advance items or administrations in compelling way (Wirtz and Lovelock, 2016). These additionally give criticism types of the clients to adequately improve the quality or issue identified with the items or administrations for the organizations. The client needs to have information identified with filter QR codes. The money related organizations utilizing QR codes for getting to speedy data of clients to surrender follow calls with respect to deals. The greater pa rt of the carriers organizations are utilizing QR codes as goes for advanced boarding. Verizon likewise utilizing QR codes at its retail locations which permits clients to take an interest and win advanced mobile phones. Showcasing blend will help in advancing items or administrations at proficient areas to various clients (Hunt, 2014). The item factor of promoting blend will give enough data identified with items or administrations offered by the organizations to clients. Ansoffs lattice can likewise be utilized for deliberately creating business tasks for associations. This gives magnificent showcasing chances to build up the item in effective way. QR codes are significant angles in stock administration or assembling industry. These assistance in following more items costs and names that can incorporate part number, sequential number and other data. QR codes can likewise be utilized rather than standardized identifications as can encode most extreme items or segments. These codes can undoubtedly be perused utilizing mobile phones or PDAs and not expects scanners to understand data. These codes can likewise spare or store enormous measure of data as far as URLs, writings and geo facilitates (Klein, 2014). These are likewise savvy and empower organizations not to buy scanners to record all stock exchanges in proficient way. The workers of administration businesses want to utilize mobile phones to sweep OR codes as these are helpful and simpler to utilize. These additionally not require advanced mobile phones to be associated with PCs to work business activities for administration division. Watchmen model will help the administration area in examining their rivals and will likewise assists with getting to the variables that can empower them to accomplish wanted business development of organizations. Maslows hypothesis likewise causes the organizations to comprehend the clients wants and on that premise items or administrations are created by the organizations (Lusch and Vargo, 2014). This hypothesis additionally makes the administration segment to effectively utilize the QR codes so as to get upper hand in the preset advertising conditions. There are different systems received to draw in clients to utilize QR codes to get data identified with items or administrations. These codes offer interactivities to shoppers so that can examine codes for propelling promotions on their telephones that can expand potential to associate by clicking to play out a few errands to get offers or coupons. This makes customer associated with brand with brisk access to all data identified with items or administrations (Kim and Yoon, 2014). The clients who don't have adequate mechanical information have the trouble to comprehend QR codes and sacking those codes is even troublesome undertaking for those clients. These codes should be simpler to san that ought not require any mystery from the purchasers. The apparent reaction of QR can be comprehended with assistance of intelligence which incorporates client control, responsiveness and connectedness and quickly reacts on shoppers demands. Doormen model will assist the organizations with analyzing the dangers or new contestants for the QR codes and will upgrade business development for organizations by giving applicable data identified with items and their importance for the clients. The SWOT and PESTLE investigation will likewise help administration division to decide chances on items related with utilization of QR codes for the buyers (Baker, 2014). These hypotheses additionally give enough business chances to support segment by giving snappy data o clients utilizing QR codes. There are such a large number of cases related with wrong or time situation on abuse of QR codes. AR, NFC, I-Beacons, interactive paper Google goggles, or Snap Tag can be the future substitutes for QR codes that will surely upgrade activities of administration segment and simultaneously, likewise ready to fulfill all needs of the clients. Snap labels are quicker and can store a larger number of information than QR codes. Enlarge Reality (AR) overlays the whole world with substance of digitalism (Waters, 2017). AR is for the most part live, backhanded and direct introduction of physical and genuine word whose components increased with sound, designs, or video by the PCs. Close to handle correspondence (NFC) primarily incorporates NFC chips and cell phones. This aides in trading contact data inside the two gadgets and simpler to utilize. Interactive papers will assist the clients with linking with various connections or social catches where required data showed as the picture overlaid on the connections. The swot investigation and pestle examination apparatuses of showcasing will help the administration part to extend its business activities as per current business condition and will likewise fruitful in fulfilling all needs identified with quality and amount of the items or administrations (Hatch and Cunliffe, 2013). The swot investigation will help administration segment in breaking down inner structure of business and techniques needs to improve business activities. Further, pestle investigation will dissect the outer condition for administration part and will assist with shaping systems or grow such items that can fulfill all needs of the clients. References: Babin, B. what's more, Zikmund, W. (2015) Exploring showcasing research.USA: Cengage Learning. Pastry specialist, M. (2014) Marketing system and the executives. UK: Palgrave Macmillan. Incubate, M. what's more, Cunliffe, A. (2013) Organization hypothesis: present day, representative and postmodern perspectives.UK: Oxford college press. Higgins, L., Wolf, M. also, Wolf, M. (2014) Technological change in the wine advertise? The job of QR codes and wine applications in buyer wine buys. Wine Economics and Policy, 3(1), pp.19-27. Chase, S. (2014) Marketing Theory: Foundations, Controversy, Strategy, and Resource-advantage Theory.UK: Routledge. Kim, E. what's more, Yoon, N. (2014) Perceived QR code innovative qualities in the shrewd shopping setting. Diary of Global Fashion Marketing, 5(4), pp.297-307. Klein, M. (2014) Contribution of QR-Codes to the Marketing Mix A Case Study. The executives, 4(3A), pp.1-11. Lusch, R. what's more, Vargo, S. (2014) The administration predominant rationale of promoting: Dialog, discussion, and directions.UK: Routledge. Waters, J. (2017) Future options to QR codes. [Online]. Accessible at: https://www.dummies.com/business/showcasing/internet based life promoting/future-options to-qr-codes/(Accessed: 11 April, 2017). Wirtz, J. also, Lovelock, C. (2016) Services showcasing: individuals, innovation, strategy.UK: World Scientific Publishing Co Inc.

How to Onboard and Integrate New Employees Effectively

How to Onboard and Integrate New Employees Effectively As per statistics, 22 percent of turnover takes place within the initial 45 days and 16 percent in the course of the first week. The key reason for the turnover is bad onboarding and shifting expectations pertaining to the position. © Shutterstock.com | designer491In this article, you’ll read about 1) employee onboarding â€" importance and benefits, 2) stages of onboarding and integration, and 3) best practices.EMPLOYEE ONBOARDING IMPORTANCE AND BENEFITSLimit startup expenditure and curtail expensive turnoverIt is a common feature of many industries that organizations lose as big a percentage as 15% of employees each year. Fortunately, good onboarding programs ensure that your current employees are valued and equipped with all tools required to succeed. They reveal in a tangible manner how the organization is genuinely concerned about its employees, reducing the likelihood of the latter looking for a job elsewhere. Proper orientation assists new hires with quickly getting up to speed, thereby bringing down the expenses pertaining to learning the job.Investing in employees benefits your companyEmployees are an organization’s key asset. Invest resources and time into keeping your employees creative, informed , loyal and protective and you would reap the benefits.Brings down time-to-productivityThe metric “time-to-productivity” is quickly gaining acceptance as a vital measurement in talent management and hiring circles. It is defined in various ways. While for some, it means the time needed for new hires to accomplish the job expertise of a hire who has been at the company for two years. For others, it is the time needed for new hires to have the required equipment, skills and information to carry out their tasks at optimum productivity. With the new hires getting up to speed faster, it would be hard to distinguish between the hires who have put in one or more years of service, and the new entrants.Helps the employee acquire job-associated knowledgeProper onboarding educates employees about the mission, vision, culture and values of the organization. It also makes certain that new hires fully comprehend what’s required of them for a particular job role and how their work is connect ed to the organization’s operations as a whole. New employees get to know how to deliver and when and how they would be assessed.Helps bring about organizational cultureEmployee onboarding is used to preserve the positive organizational culture. So it is essential that fresh hires be immersed on Day One itself.Increases employee engagementEffective onboarding makes employees feel valued, helps them grow in knowledge and skills and also assists them with realizing their full potential. This leads to better employee engagement.Other benefits of proper onboarding include: a reduction in employee anxiety which one feels when one is usually in a strange or new situation, and more time saved for the supervisor because he has to spend less or no time teaching the hire if the initial orientation was good.STAGES OF ONBOARDING AND INTEGRATIONEven before you put out the job ad or post the job vacancy, make sure you know exactly what the role is for which you’re hiring and that you are clea r about the expectations. Not defining what you expect as a company and your requirements from the employee is the worst mistake you can make when starting the recruitment process. Don’t make this mistake if you want smooth and easy employee onboarding and integration.Stage One: Prior to Day OneImmediately after the hire accepts the offer, you should plan the paperwork, give him information about where he needs to be on day one, what to wear and who to report to. If you like, you can send a welcome packet or letter signed by one of the higher ranking officials in your organization, and possibly gift the employee a small token as a welcome to the company.Employee onboarding technology in the form of a branded portal can be used to deliver tailored information to new employees to speed up the paperwork process and provide new employees with the chance to work at the pace that suits them.Discuss logistics with your employee prior to the first day so that he is sure about aspects such as driving directions, public transportation, parking, dress code, expected arrival time, who to meet on arrival, lunch plans on the first day.Your employee should feel like you were fully prepared and ready for his arrival. See to it that all the necessary access and identification cards, business cards, systems and email access, keys, office supplies, map of the building/office, internal phone directory and payroll information are ready for the employee’s use before he arrives. There are many instances of employees who started looking for a new job because of unpreparedness from the part of their employer.Make the new hire feel welcome and not uneasy or suffocated. Try to present serious and sensitive issues optimistically but effectively. Don’t make it look like you’re imposing a lengthy list of rules on the new employee.Stage Two: First DayGiven below is a look at some of the important things to do on the first day. One thing is to make the organization’s mission, visio n, values and culture clear to the employee particularly how the employee’s job relates to the company’s mission. Entrust somebody with the task of meeting the fresh hire and providing an office tour. In the course of the office tour, the entrusted person would have to show the employee where the mail room, copy machine, lunch room, restrooms, employee mailboxes and such things are. Talk about the benefits package. If possible, get some staff members to treat the new hire to lunch or else to join him as he eats his lunch on the first day. Complete security and paperwork requirements.Fix a meeting with the employee’s supervisor for the afternoon of the first day. In the course of this meeting, the supervisor can give the employee a picture of the latter’s responsibilities and what the initial 30 to 90 days in his position are expected to be like.Considering the fact that new employees are expected to memorize a lot of information in a limited amount of time, encourage your ne w hire to take notes and make him feel like questions pertaining to the job are absolutely welcome.Stage Three: Initial WeekAt this stage, there should be clear communication of the new employee’s role and responsibilities. The supervisor and the new employee should discuss preferred management style and typical processes (for example: the manner of decision making). A key element of onboarding â€" the establishment of expectations pertaining to performance metrics, deliverables and timelines begins here.Introduce the new hire to senior staff as well as other employees.If the hire is himself in a supervisory role, additionally make sure that he has group or one-on-one interactions with direct reports in the course of the first week. Such meetings will assist with building a new team and enable the new employee to get an idea of each team member’s work style.If the role calls for it, also schedule meetings of the new hire with Board members, partners, funders or other entities/bo dies as per necessity.Stage Four: First Thirty daysMake it clear to the employee what you expect him to achieve and within what time frame. Also establish boundaries. This is also the stage for developing professional relationships with the manager and coworkers, cross functional orientation, work group orientation and familiarization with organizational procedures and practices. Help the new hire investigate the company’s overall culture. Involve the fresh hire in bringing the company’s vision and mission statement to life. Permit him to discern what plans the organization sticks to to keep to its core values.Stage Five:  Initial 90 daysAt stage four, the manager or supervisor should assess performance and provide feedback early and frequently.In the course of the first month, it is conventional to anticipate modest deliverables which the new employee can learn on the job as well as be on the path to confidence building and success. As the initial three months come to a close, the new hire must be close to getting up to speed. In addition, he should expect to be assessed on a regular workload.When entering the 60-day mark, brainstorm the different methods by which the employee’s strengths can step up company growth. Continue to communicate expectations in a lucid manner. Encourage the hire to get a broader perspective pertaining to the company and its objectives. Also encourage him to contribute more to presentations and conversations.All through the initial three months, look out for opportunities to merge new employees into their workgroups as well as into the organization taken as a whole.Regularly check with new hires to make certain that they are continuing to digest and develop.Stage Six: The 90 day mark and the first yearBy the time three months are over, your new hire should have a strong idea about his role and how it contributes to the company’s overall success. If all’s good, his confidence would have increased compared to the first day a nd he would be looking to put his leadership qualities to good use. The new hire should be aware and attentive of new projects and be prepared with possible solutions. Set aside some time to notice your new hire’s progress and to reward him for contributions and advancement. Assist him with avoiding minor mistakes and with setting right the errors and refocusing accordingly. The employee should be expected to be proactive with respect to his responsibilities.Stage Seven: First YearCarry out a fresh employee survey. Provide the employee with training to fill skill gaps and develop competencies. Encourage the fresh hire to make a note of ideas for enhancing the operations, culture or strategy of the organization. Though the new hire may feel uncomfortable about sharing his views on these aspects, it is essential that the organization be open to the views of newcomers.On the day the employee completes one year of service, send him a congratulatory letter or email.BEST PRACTICES1. The manager should be involvedThe relationship between manager and employee is the most important in an employee’s career and is essential in onboarding. The manager is required to meet with new hires as early as possible after the start date, to fix performance expectations, set goals, and make development plans (whether 1 year, 90 days, 60 days or 30 days). Fixing clear expectations in advance paves the way for the employee to develop a feeling of ownership and assist him with comprehending how to be successful. The necessity for involvement of the manager is particularly true for the Generation Y workforce as the requirement for personal connections is especially high.2. Engage in it over a longer time frameYou already know that onboarding should start prior to day one. However, you should also know that onboarding must continue beyond week one. According to studies, having an onboarding process that goes on for three months or over one year, leads to improved employee retention. This gives you the opportunity to deal with certain topics (product training for example) in detail compared to other programs for which a shorter duration is adequate. An extended duration also makes it possible for managers, buddies and mentors to be continually engaged and involved and to provide feedback and lucid expectations clearly and on a continuing basis.3. Invite questions and measure successAn “open door” is not enough. You need to encourage your new hires to ask questions because new employees are generally reluctant to do so if not told to. Ask them what’s working, what’s challenging and what’s just plain confusing. Make it clear to them that asking questions will help them learn and they don’t have to avoid the practice for fear of “looking dumb.”Set up a system to measure the success of your program. Get feedback from new hires about the program, at intervals (90 days, 60 days, 30 days or 1 week). Invite each of them to a focus group or one-on-one int erview to measure qualitative responses. You can use the one-on-one environment to put across open-ended questions. One example of such a question is “How do you feel about your workspace?” Reflect on questions that look into such aspects as whether they can fully tap into their capabilities and skills and/or whether they are getting suitable assignments.4. Provide lucid explanations for specific work projectsIt is not enough to provide lucid information pertaining to your company’s objectives and their work in general. It is also essential that you extend this lucidity when it comes to the new hires’ work assignments â€" what you expect them to do on their own, what resources are available, where they are required to work in collaboration with others, and the deliverables and the deadline by which they are expected, among other aspects.5. AssimilationConsider establishing a personal touch outside the workplace like taking the newbies for lunch on the first day. However, ass imilation may not be the right approach for all organizations.6. Immediately involve them in training or actual workAn onboarding survey conducted by BambooHR and released in 2014 reveals that 76 percent of the survey’s respondents concur on on-the-job training being the most essential for a hire to get up to speed and start contributing at the earliest.7. Incorporate mentorsHaving a coach or mentor for new hires increases both the effectiveness of onboarding as well as employee retention. You can assign a team member or other employee with the task of mentorship or else have a group of mentors to provide help for various departments of the organization. Mentors can assist you with building morale, improving retention, building teams, bettering time to productivity, enabling learning, providing continuing career development, and providing network and culture assimilation.8. AutomationAutmation considerably reduces the hassles associated with onboarding new employees while also inc reasing their productivity as well as that of the HR staff. Automation also helps save money in terms of time, paper, printing and shipping among other things.9. Having a single system for hiring and onboardingA dashboard-style system with portals to access various onboarding material whether manuals, paperwork or other material from a single place is a great way to reduce the laboriousness associated with onboarding. The use of such a streamlining-enabling system reduces the quantity of work needed by both the company’s HR department and new employees.10. Utilize technology (including social)As mentioned earlier, automation (technology) makes the process of onboarding less of a hassle. Also consider incorporating social tools into your everyday work practices. The storing of information, sharing expertise and development of communities on the internal social network encourages employees to utilize social tools so as to progress in their projects and accomplish tasks. Conventional one-on-one conversations can be transformed into dynamic, social discussions across lines and teams of businesses to achieve competitive value.Take the step today to improve your onboarding and integration practices and you’ll be able to retain your employees for longer. It’s definitely worth the effort.

Should You Be Worried About Lead Pipes

Lead was commonly used to make pipes in plumbing for many centuries. It is cheap, rust resistant, and easy to weld. Eventually, health concerns encouraged a switch to alternate plumbing materials.  Copper and specialized plastics (like PVC and PEX) are now choice products for water pipes in homes.  Ã‚   However, many older homes still have the original lead pipes installed. In the United States and Canada, homes built before the 1950s should be suspected of having lead pipes, unless they have been replaced already. Lead soldering, applied to join together copper pipes, continued to be used well into the 1980s.   Lead Is a Serious Health Concern   We absorb lead through the  air, our food, and the water we drink. The effects of lead on our body are very serious. The consequences of lead poisoning range from kidney damage to reproductive problems including declined fertility. Lead poisoning is especially worrisome in children, as it affects the development of their nervous system and causes permanent changes in behavior and in the ability to learn. In the last few decades, we generally have been well educated about the problem of lead in old paint and about what we needed to do to prevent children from being exposed. The issue of lead in the water, however, recently only became a public topic of conversation in the wake of the Flint lead crisis, wherein, in an ​egregious case of environmental injustice, an entire community was exposed to lead-tainted municipal water for far too long. It Is Also About the Water   Old lead pipes are not automatically a health threat. A layer of oxidized metal forms on the pipe surface over time, preventing water from directly contacting the raw lead. By controlling the pH of the water at the water treatment plant, municipalities can prevent corrosion of this oxidized layer, and even add certain chemicals to facilitate the formation of a protective coating (a form of scale). When the water chemistry is not properly adjusted, as the case was in Flint, lead is leached out of the pipes and can reach consumers’ homes at dangerous levels. Do you get your water from a well instead of a municipal water treatment plant? If you have lead in your house pipes, there is no guarantee that the water chemistry is not at risk of leaching lead and bringing it to your faucet. What Can You Do? If you have concerns about your pipes, run water from your tap to flush out your pipe before you drink it, especially in the morning. Water that has been sitting around for several hours in your house pipes is more likely to pick up lead.  Water filters can remove most lead from your drinking water. However, the filter has to be specifically designed for lead removal – check whether it is certified for that purpose by an independent organization (for example, by the NSF).  Ã‚  Hot water is also more likely to dissolve lead and carry it to your faucet. Do not use hot water directly from the faucet to cook or make hot drinks.  Have your water tested  for lead. ​While your municipality may have changed all of its delivery conduits to non-lead materials, the pipes inside your older home (or connecting to the municipal system under your front lawn) may not have been replaced. To confirm your water is safe to drink, contact a reputable, certified water testing lab and have them do an analysis. It is more costly, but its better to choose an independent company that will not try to sell you a treatment system.Your child’s blood level can also easily be tested for lead by a pediatrician. Detecting an elevated lead blood level early is important and would give you time to determine where it’s coming from.Children spend a lot of time in school – how’s the water there? Request water quality tests from your school district. If they do not have them done periodically, require they do so. Hunters are leaving lead out of their bullets, and ​​anglers are encouraged to choose alternatives. Getting lead also out of our homes and our drinking water will take more work, but it is important.

Snapping Beans Poem Analysis - 1483 Words

Aspirations The poem â€Å"Snapping Beans† by Lisa Parker speaks to all college students who leave home to go to school. This poem speaks about the insecurities kids face when they start to interact with the world. As children we learn first from our parents and close family and friends. We learn how to model our behavior from learning form those that surround us. Sometimes when we emulate our close relatives we contract the good along with the bad. So as the granddaughter comes back home to her grandmother who is the pillar of support that gives her warmth and comfort. She Is yearning to speak all about her travels and people she has met. Yet as she goes of to college for the first time interacting with vastly different†¦show more content†¦I will start with the world, â€Å"heartsick† because this word relates to the feelings that the granddaughter felt for the yarning of the comforts of her home. The sorrows drowned out by the panels of the quilt her grandmother made her. The comfort of her home away form home for those nights she felt sad and wanted to be home. The granddaughter could easily drown her fears and tears into this quilt and be reminded of the strength and the bond she has with her Grandmother. â€Å"Heartsick† was an powerful word to use to understand how the granddaughter must have felt on those miserable days. But, to tie it in to the quilt like she did was like she quilted the words together to show how and what it meant to be alone and struggled and how the granddaughter coped with her emotions. I believe that the word loose, this word was placed all the way at the end of the poem. I feel like this word speaks loudly throughout this poem significance. This poem is about the granddaughter being blown â€Å"loose† by the natural forces that cary us. In this case she is blowing â€Å"loose† of her home and her centric ideas. To explore and be â€Å"loose† in the world to experience it through her eyes t o develop her own point of view by simply enacting her own beliefs and adopting others. I felt compelled to react to the word, â€Å"slant†. â€Å"Slant†, has a great meaning in this poem for it is used in the beginning of the poem. Slant can mean aShow MoreRelatedAnalysis Of The Poem Snapping Beans By Lisa Parker1371 Words   |  6 PagesIn Snapping Beans by Lisa Parker, she strategically utilizes figure of speech such as tone, imagery, and symbolism. She expresses the poem in the first-person view while including diction which helps enhance the overall mood and attitude that Lisa s poem initially conveys in her piece. Including the title Snapping Beans itself, Lisa marvelously showcase the poem s concentration on two individuals’ in correlation to the connection amongst two individuals . She presents the adaptation of human

Indian Financial System Free Essays

FINANCIAL MANAGEMENT ASSIGNMENT ON INDIAN FINANCIAL SYSTEM amp; SOURCES OF LONG TERM AND SHORT TERM FINANCES SUBMITTED BY, PREMJITH. A P10144 PGDM 2010-12 INDIAN FINANCIAL SYSTEM The financial system in india refers to the system of borrowing and lending of funds or the demand for and the supply of funds of all individuals, institutions, companies and of the government. Commonly the Indian financial system is classified into: * Industrial finance: funds required for the conduct of industry and trade * Agricultural finance: funds needed and supplied for the conduct of agriculture and allied activity * Development finance: funds needed for development; actually it includes both industrial finance and agricultural finance * Government finance: relates to the demand for a nd supply of funds to meet government expenditure The mobilization of savings and the effective distribution of the savings among all those who demand the funds for investment purposes. We will write a custom essay sample on Indian Financial System or any similar topic only for you Order Now The banking system, the insurance companies, mutual funds, investment funds and other institutions which promote savings among the public, collect their savings and transfer them to the actual investors * The investor in the country composed of individuals investors, industrial investors, industrial and trading companies and the government, these enters in the financial system as borrowers. FUNCTIONS OF INDIAN FINANCIAL SYSTEM The Indian financial system performs a crucial role in economic development of india through saving investment process also known as capital formation. Sometimes it is also calls financial market. The purpose of financial market is to mobile savings efficiently and allocates the same efficiency among the ultimate users of funds, ie: investors * Increase in savings, that is resources that are would have been normally used for consumption purposes should be released for other purposes. * Mobilization of savings – domestic savings collected by banking and financial institutions and placed at disposal of actual investors; and * Investment proper, which is the production of capital goods. COMPOSITION OF THE INDIAN FINANCIAL SYSTEM The Indian money market is the market in which short term funds are borrowed and lent. The capital market in india on the other hand, is the market for medium- term and long term funds. Reserve bank of india Organized sector Sub Market Unorganized sector Public sector banks Private sector banks NBFC IDFC, GIC, LIC Call money T- Bills Certificate for Deposit Commercial Papers SHORT TERM AND LONG TERM FUNDS SHARES Shares comes in the Long term funds. A share is a unit of capital of the company. It has a definite face value. It represents ownership rights of their holders. Buyers of shares are called shareholder and they are legal owners of the firm whose shares they hold. Each shareholder invest their money in the shares of a company in exception of a return on their investment capital. The return of shareholder consists of dividend and capital gain. Share holder make capital gain or (loss) by selling their share. Each share carries a distinct number. Shares are transferable units. Shareholders are of two type ORDINARY and PREFERENCE shareholders. Preference share: These shares have preference over the ordinary shares in terms of payment of dividend and repayment of capital if company is wound up. They may be issued with or without a maturity period. REDEEMABLE PREFERENCE SHARE are shares with maturity and IRREDEEMABLE PREFERENCE SHARES without any maturity. The holder of preference shares get dividend at a fixed rate. With regards to dividend, preference shares may be issued with or without cumulative features. In the case of CUMULATIVE PREFERENCE SHARES unpaid dividends accumulate and are payable in the future. Dividends in arrears do not accumulate in the case of NON CUMULATIVE PREFERENCE SHARES. Features of Preference share Claim on income and assets: preference share is a senior security as compared to ordinary share. It has a prior claim on the company’s income in the sense that the company must first pay preference share dividend before paying the ordinary dividend. Fixed dividend: The dividend rate are fixed in the case of preferences share, and preference dividend are not tax deductable. Cumulative dividend: that all past unpaid dividend be paid before the ordinary dividends are paid. Ordinary Shares: represents the ownership position in a company. The holders of ordinary shares called shareholders are the legal owners of the company. Ordinary shares are the sources of permanent capital since they do not have a maturity date. However, the ordinay shareholders are entitled to receive dividends. The amount or rate of dividends are not fixed. An ordinary share is called variable income security. Being the owner the company, shareholders bear the risk of ownership; they are entitled to dividends after the income claims of others have been satisfied. Similarly, when the company is wound up, they can exercise their claim on assets after the claims of other suppliers of capital have been met. Features of Ordinary shares: Claims on income: Ordinary shareholders have a residual ownership claim. They have a claim to the residual income, which is earnings available for ordinary shareholder after paying expenses, interest charges, taxes and preference dividend. Claim on asset: Ordinary shareholder have residual claim on company asset in case of liquidation. Voting rights: Ordinary shareholder are required to vote on a number of important matters. The most significant proposals include: election of directors and change in memorandum of association. RIGHTS ISSUE When company distributes all earnings to shareholders, then, it can reacquire new capital from the same sources by issuing new shares called rights shares. BONDS A bond is a long term debt instrument or security. Bonds issued by the government do not have any risk of defaults. The private sector companies also issue bonds, which are called debentures. A company can issue secured and unsecured debenture. In case of bonds and debentures, the rate of interest is generally fixed and known to investors. Features of Bonds * Face value is the par value. A bond is generally issued at a par value of Rs:100 or Rs:1000, and interest in paid on face value. * Interest rate is fixed and known to bondholders. Interest paid on a bond is tax deductable. Interest rate is called coupon rate. * Maturity bond is generally issued for a specified period of time. It is repaid on maturity. * Redemption value The value that a bondholder will get on maturity is called redemption or maturity value. A bond may be redeemed at par or at premium or at discount. * Market value A bond may be traded in a stock exchange. The price at which it is currently sold or bought is called the market value of the bond. Market value may be different from par value or redemption value. Bonds may be classified into three (1) Bond with maturity (2) Pure discount bonds (3) Perpetual bonds Bond with maturity The companies issue bonds that specify the interest rate and the maturity period. Pure discount bonds These bonds do not carry an explicit rate of interest. It provides for the payment lump sum amount at a future date in exchange for the current price of bond. Perpetual bonds These bonds are also consols, has an indefinite life and therefore, it has no maturity value. Types of Debentures * Convertible debenture (CD) * Non convertible debenture (NCD) * Fully convertible debenture (FCD) * Partly convertible debenture (PCD) WARRANTS A warrant entitles the purchaser to buy a fixed number of ordinary shares at a particular price during a specified time period. Warrants are generally issued along with debentures as sweeteners. Warrants are used in conjunction with ordinary or preference shares. Characteristics of Warrants Exercise price of a warrant is the price at which its holder can purchase the issuing firms ordinary shares. Exercise ratio states the number of ordinary shares that can be purchased at the exercise per warrants. Expiration date is the date when the option to buy ordinary shares in exchange of warrants expires. Detachability the warrant can either be a detachable or non detachable. Detachable warrants Warrant can be sold separately from debentures to which it is originally attached Non detachable warrants cannot be sold separately from the debenture to which it was originally attached. Some of the other methods used for raising long term capitals, * CUMULATIVE CONVERTIBLE PREFERNCE SHARE * DERIVATIVE SECURITIES * BORROWING FROM FINANCIAL INSTITUTION (BANKS) SHORT TERM FUNDS It is the market for near money, or it is the market for lending and borrowing of short funds. It is the market for lending and borrowing short term surplus investible funds of banks and other financial institution are demanded by borrowers comprising individual companies and the government. The composition of Indian money market consist of Call money market One important submarket of the Indian money market is the Call money market, which is the market for very short term funds. This market is also known as money at call and short notice. This market has two segments (a) the call market or overnight market and (b) short notice market. The rate at which unds are borrowed and lent in this market is called the call money market. Call money rates are market determined by demand and supply of short term funds. The public sector banks account for about 80% for the demand and foreign banks and Indian private sector banks account for the balance of 20% of borrowings. NBFC’s like IDBI, GIC, LIC are call money market lenders. Bill market in India The bill market ir the discount market is the most important part of the money market where short bills normally up to 90days are bought and sold. The bill market is further subdivided into commercial bill market and treasury bill market. The 91 day treasury bills are the most common ways the government of india raises funds for the short period. Government has also introduced the 182 day T-Bills and 364 day T-bills, In 1997 government introduced 14 day T-Bill. Dated government securities The government of india has also decided to sell dated securities on an auction basis. The purpose of this government decision is: * To develop dated securities as a monetary instrument with flexible yields * To provide financial instrument to suit investors expectation, and * To meet Government needs directly from the market. Repo and reverse repos Repos are now a regular feature of RBI’s market operations, If the banking system experience liquidity shortage, then RBI comes to assist banking system by repurchasing government securities. When the government securities are repurchased from the market, payment is made by RBI to commercial banks and this adds to their liquidity and enables them to expand their credit to industry and trade. Reverse repo is to sell dated securities through auction at fixed cut off rate of interest. The objective is to provide short term avenue to banks to park their surplus funds. Certificate of Deposits (CD) The CD’s are another important money market instrument. They were issued by banks in multiples of Rs:25 lakhs to expand the investor base of CD’s, the min: value was reduced and is presently Rs: 1 lakhs. The maturity is between 3 months and one year. CD ‘s are freely transferable after 45 days after the date of issue. CD’s became immediately popular with banks for raising resources at competitive rates of interest. Commercial papers (CP) The commercial papers are issued by companies with networth of Rs 10 crores, later reduced to Rs: 5 crores. The CP is issued multiples of Rs. 25 lakhs subject to minimum issue of Rs 1 crore. The maturity of Cp is between 3 to 6 months. The purpose of introducing CP is to enable high level corporate borrowers to diversify their source of short term borrowings on the one hand and provide an additional instrument to the banks and financial instrument in the money market. Reference: Financial Management by I M Pandey How to cite Indian Financial System, Papers

Indian Financial System Free Essays

FINANCIAL MANAGEMENT ASSIGNMENT ON INDIAN FINANCIAL SYSTEM amp; SOURCES OF LONG TERM AND SHORT TERM FINANCES SUBMITTED BY, PREMJITH. A P10144 PGDM 2010-12 INDIAN FINANCIAL SYSTEM The financial system in india refers to the system of borrowing and lending of funds or the demand for and the supply of funds of all individuals, institutions, companies and of the government. Commonly the Indian financial system is classified into: * Industrial finance: funds required for the conduct of industry and trade * Agricultural finance: funds needed and supplied for the conduct of agriculture and allied activity * Development finance: funds needed for development; actually it includes both industrial finance and agricultural finance * Government finance: relates to the demand for a nd supply of funds to meet government expenditure The mobilization of savings and the effective distribution of the savings among all those who demand the funds for investment purposes. We will write a custom essay sample on Indian Financial System or any similar topic only for you Order Now The banking system, the insurance companies, mutual funds, investment funds and other institutions which promote savings among the public, collect their savings and transfer them to the actual investors * The investor in the country composed of individuals investors, industrial investors, industrial and trading companies and the government, these enters in the financial system as borrowers. FUNCTIONS OF INDIAN FINANCIAL SYSTEM The Indian financial system performs a crucial role in economic development of india through saving investment process also known as capital formation. Sometimes it is also calls financial market. The purpose of financial market is to mobile savings efficiently and allocates the same efficiency among the ultimate users of funds, ie: investors * Increase in savings, that is resources that are would have been normally used for consumption purposes should be released for other purposes. * Mobilization of savings – domestic savings collected by banking and financial institutions and placed at disposal of actual investors; and * Investment proper, which is the production of capital goods. COMPOSITION OF THE INDIAN FINANCIAL SYSTEM The Indian money market is the market in which short term funds are borrowed and lent. The capital market in india on the other hand, is the market for medium- term and long term funds. Reserve bank of india Organized sector Sub Market Unorganized sector Public sector banks Private sector banks NBFC IDFC, GIC, LIC Call money T- Bills Certificate for Deposit Commercial Papers SHORT TERM AND LONG TERM FUNDS SHARES Shares comes in the Long term funds. A share is a unit of capital of the company. It has a definite face value. It represents ownership rights of their holders. Buyers of shares are called shareholder and they are legal owners of the firm whose shares they hold. Each shareholder invest their money in the shares of a company in exception of a return on their investment capital. The return of shareholder consists of dividend and capital gain. Share holder make capital gain or (loss) by selling their share. Each share carries a distinct number. Shares are transferable units. Shareholders are of two type ORDINARY and PREFERENCE shareholders. Preference share: These shares have preference over the ordinary shares in terms of payment of dividend and repayment of capital if company is wound up. They may be issued with or without a maturity period. REDEEMABLE PREFERENCE SHARE are shares with maturity and IRREDEEMABLE PREFERENCE SHARES without any maturity. The holder of preference shares get dividend at a fixed rate. With regards to dividend, preference shares may be issued with or without cumulative features. In the case of CUMULATIVE PREFERENCE SHARES unpaid dividends accumulate and are payable in the future. Dividends in arrears do not accumulate in the case of NON CUMULATIVE PREFERENCE SHARES. Features of Preference share Claim on income and assets: preference share is a senior security as compared to ordinary share. It has a prior claim on the company’s income in the sense that the company must first pay preference share dividend before paying the ordinary dividend. Fixed dividend: The dividend rate are fixed in the case of preferences share, and preference dividend are not tax deductable. Cumulative dividend: that all past unpaid dividend be paid before the ordinary dividends are paid. Ordinary Shares: represents the ownership position in a company. The holders of ordinary shares called shareholders are the legal owners of the company. Ordinary shares are the sources of permanent capital since they do not have a maturity date. However, the ordinay shareholders are entitled to receive dividends. The amount or rate of dividends are not fixed. An ordinary share is called variable income security. Being the owner the company, shareholders bear the risk of ownership; they are entitled to dividends after the income claims of others have been satisfied. Similarly, when the company is wound up, they can exercise their claim on assets after the claims of other suppliers of capital have been met. Features of Ordinary shares: Claims on income: Ordinary shareholders have a residual ownership claim. They have a claim to the residual income, which is earnings available for ordinary shareholder after paying expenses, interest charges, taxes and preference dividend. Claim on asset: Ordinary shareholder have residual claim on company asset in case of liquidation. Voting rights: Ordinary shareholder are required to vote on a number of important matters. The most significant proposals include: election of directors and change in memorandum of association. RIGHTS ISSUE When company distributes all earnings to shareholders, then, it can reacquire new capital from the same sources by issuing new shares called rights shares. BONDS A bond is a long term debt instrument or security. Bonds issued by the government do not have any risk of defaults. The private sector companies also issue bonds, which are called debentures. A company can issue secured and unsecured debenture. In case of bonds and debentures, the rate of interest is generally fixed and known to investors. Features of Bonds * Face value is the par value. A bond is generally issued at a par value of Rs:100 or Rs:1000, and interest in paid on face value. * Interest rate is fixed and known to bondholders. Interest paid on a bond is tax deductable. Interest rate is called coupon rate. * Maturity bond is generally issued for a specified period of time. It is repaid on maturity. * Redemption value The value that a bondholder will get on maturity is called redemption or maturity value. A bond may be redeemed at par or at premium or at discount. * Market value A bond may be traded in a stock exchange. The price at which it is currently sold or bought is called the market value of the bond. Market value may be different from par value or redemption value. Bonds may be classified into three (1) Bond with maturity (2) Pure discount bonds (3) Perpetual bonds Bond with maturity The companies issue bonds that specify the interest rate and the maturity period. Pure discount bonds These bonds do not carry an explicit rate of interest. It provides for the payment lump sum amount at a future date in exchange for the current price of bond. Perpetual bonds These bonds are also consols, has an indefinite life and therefore, it has no maturity value. Types of Debentures * Convertible debenture (CD) * Non convertible debenture (NCD) * Fully convertible debenture (FCD) * Partly convertible debenture (PCD) WARRANTS A warrant entitles the purchaser to buy a fixed number of ordinary shares at a particular price during a specified time period. Warrants are generally issued along with debentures as sweeteners. Warrants are used in conjunction with ordinary or preference shares. Characteristics of Warrants Exercise price of a warrant is the price at which its holder can purchase the issuing firms ordinary shares. Exercise ratio states the number of ordinary shares that can be purchased at the exercise per warrants. Expiration date is the date when the option to buy ordinary shares in exchange of warrants expires. Detachability the warrant can either be a detachable or non detachable. Detachable warrants Warrant can be sold separately from debentures to which it is originally attached Non detachable warrants cannot be sold separately from the debenture to which it was originally attached. Some of the other methods used for raising long term capitals, * CUMULATIVE CONVERTIBLE PREFERNCE SHARE * DERIVATIVE SECURITIES * BORROWING FROM FINANCIAL INSTITUTION (BANKS) SHORT TERM FUNDS It is the market for near money, or it is the market for lending and borrowing of short funds. It is the market for lending and borrowing short term surplus investible funds of banks and other financial institution are demanded by borrowers comprising individual companies and the government. The composition of Indian money market consist of Call money market One important submarket of the Indian money market is the Call money market, which is the market for very short term funds. This market is also known as money at call and short notice. This market has two segments (a) the call market or overnight market and (b) short notice market. The rate at which unds are borrowed and lent in this market is called the call money market. Call money rates are market determined by demand and supply of short term funds. The public sector banks account for about 80% for the demand and foreign banks and Indian private sector banks account for the balance of 20% of borrowings. NBFC’s like IDBI, GIC, LIC are call money market lenders. Bill market in India The bill market ir the discount market is the most important part of the money market where short bills normally up to 90days are bought and sold. The bill market is further subdivided into commercial bill market and treasury bill market. The 91 day treasury bills are the most common ways the government of india raises funds for the short period. Government has also introduced the 182 day T-Bills and 364 day T-bills, In 1997 government introduced 14 day T-Bill. Dated government securities The government of india has also decided to sell dated securities on an auction basis. The purpose of this government decision is: * To develop dated securities as a monetary instrument with flexible yields * To provide financial instrument to suit investors expectation, and * To meet Government needs directly from the market. Repo and reverse repos Repos are now a regular feature of RBI’s market operations, If the banking system experience liquidity shortage, then RBI comes to assist banking system by repurchasing government securities. When the government securities are repurchased from the market, payment is made by RBI to commercial banks and this adds to their liquidity and enables them to expand their credit to industry and trade. Reverse repo is to sell dated securities through auction at fixed cut off rate of interest. The objective is to provide short term avenue to banks to park their surplus funds. Certificate of Deposits (CD) The CD’s are another important money market instrument. They were issued by banks in multiples of Rs:25 lakhs to expand the investor base of CD’s, the min: value was reduced and is presently Rs: 1 lakhs. The maturity is between 3 months and one year. CD ‘s are freely transferable after 45 days after the date of issue. CD’s became immediately popular with banks for raising resources at competitive rates of interest. Commercial papers (CP) The commercial papers are issued by companies with networth of Rs 10 crores, later reduced to Rs: 5 crores. The CP is issued multiples of Rs. 25 lakhs subject to minimum issue of Rs 1 crore. The maturity of Cp is between 3 to 6 months. The purpose of introducing CP is to enable high level corporate borrowers to diversify their source of short term borrowings on the one hand and provide an additional instrument to the banks and financial instrument in the money market. Reference: Financial Management by I M Pandey How to cite Indian Financial System, Papers

Suitability of an Integrated Cost and Differentiation Competitive Strategy

Introduction At the moment, the business environment is characterized by a high rate of dynamism as a result of technological advancement, coupled with a high rate of globalization. To survive in such an environment, firms operating in different economic sectors are increasingly considering ways through which they can develop a competitive advantage in the facing of the mounting competition.Advertising We will write a custom essay sample on Suitability of an Integrated Cost and Differentiation Competitive Strategy specifically for you for only $16.05 $11/page Learn More A firm only attains a competitive advantage over its rivals after the implementation of a unique competitive strategy. A competitive strategy refers to the decision regarding how a firm intends to establish itself in a certain domain. The competitive strategy entails both offensive and defensive mechanisms which are aimed at dealing with the five competitive forces (Vallabhaneni, 2009, p. 15). These forces include barrier to entry, rivalry from firms in the industry, the threat of substitute, supplier bargaining power and lastly, buyer bargaining power. There are a wide range of competitive strategies that firms may decide to incorporate in their daily operations. The main strategies include cost leadership, differentiation strategy, cost focus, broad differentiation, and low cost strategy (Schermerhorn, 2010, p.223). Firms adopt different competitive strategies depending prevailing environment in the market. For example, Fiat Motor Company integrated a broad-line competitive strategy in its operations. This competitive strategy means that the car manufacturer is a regional producer of a wide range of automobiles. Through an effective implementation of a competitive strategy, a firm is able to create value for its products. The resultant effect is that the firm attains a high competitive edge over its rivals in the market. On the other hand, to survive in the long r un, it is important for firms to ensure that they implement a sustainable competitive advantage. In the 21st century, the purchasing behavior of consumer has undergone a major change and if at all firms do not keep pace with these changes, they are likely to lose a large share of their market to their dynamic rival companies that have embrace the changes. The change in the purchasing behavior of consumers is worsened by the increase in the degree of complexity within the business environment as a result of technological advancement arising from innovation and the high rate of globalization (Hoskisson, et al., 2008, p.121).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More To attain a high competitive edge, firms have deemed it appropriate to adopt the integrated cost and differentiation strategy. The research paper endeavors to examine whether or not it is suitable for forms to implement inte grated cost and differentiation competitive strategy in an effort to attain competitive advantage. Arguments for integrated cost and differentiation competitive strategy According to Hoskisson, Hitt and Ireland (2009, p.147), a firm which has adopted integrated cost and differentiation strategy is more efficient in its operations compared to a firm that has incorporated only one business-level strategy. For example, a firm that has incorporated an integrated strategy is able to respond to the changes in the business environment more effectively. This is due to the fact that the firm is not constrained in the implementation of its strategy. However, the firm can easily change its competitive strategy depending on the prevailing business conditions. An integrated cost and differentiation strategy also provides a firm with an opportunity to enhance its human capital. For example, the firm’s employees can easily learn new skills. According to Ogbor (2009, p.254), developing the s kills of a firm’s employees play a vital role in the firm’s efforts to attaining a competitive advantage in the market. Alternatively, a firm can also easily take advantage of technological advancement in the industry. The acquisition of current technologies and new skills means that there is a high probability for firms to advance in their core competences. The result is that the firms will be able to produce highly differentiated products that add value to the customers. Currently, consumers are increasingly demanding differentiated products and services at low prices (Manning 2001, p. 32). Further, the integration of new technology may result in a firm undertaking its production cost effectively. Consequently, the firm in question is better placed to attain competitiveness owing to the low cost of its products.Advertising We will write a custom essay sample on Suitability of an Integrated Cost and Differentiation Competitive Strategy specifically for you for only $16.05 $11/page Learn More Integrated cost and differentiation competitive strategy greatly enhances the attainment of competitive advantage through low pricing and ensuring that customers attain value for their money (Hoskisson, et al., 2008, p.121). For example, the differentiation strategy can enable a firm to adopt an integrated premium pricing strategy. On the other hand, the cost leadership contributes towards a firm being effective in its pricing strategy. For example, a firm can be able to set the price of its products at a relatively low point compared to its competitors. This may culminate into an increment in the firm’s sales revenue considering that consumers are price sensitive in their purchasing patterns (Viney, Winchester Boojihawon, 2010, p.244). A study conducted by researchers revealed a strong correlation between a firm adopting integrated cost and differentiation competitive strategy and attaining above-average returns (Warner , 2010, p.105). Findings of other researchers conducted by different scholars revealed that firms that have adopted multiple strategies outperformed those which adopted only a single strategy (Hoskisson, Hitt Ireland, 2009, p. 148). For example, the most successful firms in the Korean electronic industry are those which have adopted the integrated strategy. Arguments against integrated cost leadership and differentiation strategy Despite the fact that the adoption of multiple competitive strategies enhances a firm’s ability to attain above-average returns, there are a number of costs associated. According to Hitt, Ireland and Hoskisson (2009, p.120), integrated strategy may lead to a firm being inefficient in undertaking some of the primary and support activities. These activities are core elements in the firms’ effort to attain competitiveness. However, undertaking these activities is costly. For example, in order to attain low cost in its operation, the firm may be required to enhance its process engineering activities and also undertake product changes. On the other hand, to implement its differentiation strategy, firms may be required to improve its marketing and research and development activities. Improvement of these activities will enable firms to operate cost effectively which means that firms are able to undertake effective and cost efficient production. The resultant effect is that firms are able to create value to the customers through differentiation and low prices. For a firm to effectively adopt the integration strategy, it must be effective in implementing reducing cost and product differentiation.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Failure to execute the various support and primary activities optimally may culminate into the firm being ‘stuck in the middle’ (Hitt, Ireland Hoskisson, 2009, p.120). This means that the firms will not be able to implement either of the competitive strategies. The resultant effect is that the cost structure adopted by firms will not be optimal enough to enable the firm implement a low pricing strategy. Additionally, firms may not be in a position to undertake effective differentiation. In the long term, the firm may not be effective in attracting its target customers thus limiting their ability to earn above-average returns. For example, in its operations, South West Airlines has been efficient in undertaking its support and primary activities. This has greatly enhanced the success of the firm’s integrated approach to attaining competitive advantage (Hill Jones, 2008, p.75). Pursuing integrated cost leadership and differentiation strategy can be costly for a f irm. This arises from the fact that the firm has to implement both differentiation and low cost strategy. To attain this, a firm may be required to undertake other corporate strategies such as partnering with other firms in the industry. However, such alliances may not culminate in a firm attaining cost leadership. Additionally, the firms may be required to undertake acquisitions in an effort to enhance its ability to differentiate itself by increasing its product portfolio. For example, a firm may consider offering products that are not offered by competing firms. In order for generic strategies to contribute towards a firm attaining competitiveness, Michael Porter asserts that the strategies should be given complete focus so as to ensure that the intended benefits are achieved. In the event of focus lacking, there is a high probability of competing firms taking advantage (2008, p.3). Conclusion The analysis illustrates that there are benefits and costs associated with the adoption of an integrated cost and differentiation strategy in firms’ effort to attain competitive advantage. Integrated strategy can contribute towards a firm attaining above-average returns. This means that the integrated cost and differentiated strategy can enhance a firms’ probability of attaining its profit maximizing objective. Additionally, an integrated cost leadership and differentiation strategy can enable a firm to attain an effective market position. According to Porter (2008), the attainment of an effective market position acts as a defensive mechanism against intense competition. As a result, a firm is able to improve its competitive edge. Integrated strategy can also contribute towards a firm’s competitiveness by ensuring that it is effective in its pricing strategy. This is made possible by the firms’ ability to implement a low pricing strategy. Integrated strategy also contributes towards a firm satisfying its customers as a result of the differe ntiation strategy. For example, the differentiation strategy can enables a firm to deliver value. Considering the fact that customers are increasingly demanding differentiated products and services at a low price, integrated strategy can enable a firm to attract a large number of customers. Despite the contribution of integrated cost leadership and differentiation strategy, implementing the strategy may be costly for a firm. A number of support and primary activities have to be undertaken for the strategy to be effective. However, these activities are costly. Additionally, undertaking these activities requires a firm to have adopted a flexible organizational structure so as to establish a balance between the low cost strategies and differentiation strategies. In order to achieve flexibility, firms are required to adjust their systems, methods and procedures. This will increase the firms’ effectiveness in responding to changes in the business environment. Failure to undertake support and primary activities may lead into inefficient implementation of the integrated strategy. The resultant effect is that the firm may lose on all the benefits associated with each strategy. Considering the high rate of globalization and technological advancement, implementing integrated cost and differentiation strategy can enable a firm to attain a high competitive advantage compared to a firm that has undertaken a single competitive strategy. Reference List Hill, C. Jones, G., 2008. Strategic management: an integrated approach. Houghton: Houghton Mifflin. Hitt, M., Ireland, D. Hoskisson, R., 2009. Strategic management; competitiveness and  globalization; concepts and cases. Mason, OH: South-Western. Hoskisson, R., 2008. Competing for advantage. Mason, OH: Thompson. Manning, A., 2001. Making sense of strategy. Cape Town: Zebra. Ogbor, J., 2009. Entrepreneurship in sub-Saharan Africa: a strategic management  perspective. Bloomington: Author House. Porter, M., 2008. On competition. Boston, Harvard Business School Press. Schermerhorn, J., 2010. Management. New York: John Wiley and Sons. Vallabhaneni, D., 2009. Whats your MBA IQ? a managers career development tool. Hoboken, N.J: John Wiley and Sons. Viney, H., Winchester, N. Boojihawon, R., 2010. The strategy toolkit. Walton, Hall: The Open University. Warner, A., 2010. Strategic analysis and choice: a structured approach. New York: Business Expert Press. This essay on Suitability of an Integrated Cost and Differentiation Competitive Strategy was written and submitted by user GwenStacy to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Role of Women in Ancient Mesopotamia Essay Example

Role of Women in Ancient Mesopotamia Essay Example Role of Women in Ancient Mesopotamia Paper Role of Women in Ancient Mesopotamia Paper From Suffering to Suffrage As Mary Wollstonecraft once said, â€Å"I do not wish them to have power over men, but over themselves. † In this quote, â€Å"themselves† is referred to as women of course. It is somewhat customary to pick up a paper in today’s light and perhaps see read about Secretary of State, Hillary Clinton, or First Lady, Michelle Obama, even media specialist, Oprah Winfrey. The list could go on and on, but the point remains the same. If King Hammurabi of Babylon were living in today’s world and saw how dramatic the power of women has transformed over the years, he would perhaps declare himself Queen of Babylon. Kevin Reilly accurately depicts the struggling role of women from this early period of civilization through Assyrian law, a palace decree, and Hammurabi’s Code. The first text that is mentioned by Reilly, is that titled, Assyrian law. These codes tell us many things about the role of women in early civilization. The following code comes from two official documents that were from an empire based in Mesopotamia as far back as 1,100 B. C. E. The Assyrian law which will be discussed first, gives knowledgeable understanding of the attitudes of the men towards the women in that time period. The Assyrian law introduces many different concepts relating to the role of women during this early civilization. The first concept considers the daily attire of a woman upon presenting herself in public. â€Å"Wives of a man, or [widows], or any [Assyrian] women who go out into the main thoroughfare [shall not have] their heads [bare]† (Reilly 34). This Assyrian law calls for the wearing of a veil, when seen in public. Although in the United States you would be hard pressed to find a female wearing a veil, it is not uncommon to travel out to the Middle East and witness this occurrence. This rule applied to not only the wives of the husband but any existing daughters that wish to go out into the main. The status changes quite a bit when describing the role of an unmarried woman. It was said that any unmarried woman was to leave her entire head bare when walking out into public. A prostitute as well must be bare while addressing the public. The Assyrian law had a way of putting the prostitutes, and unmarried women below the status of married women, and then married women also found themselves on an entire level below men. There were evere consequences to any prostitute who decided to wear a veil. â€Å"They shall not take away her jewelry, but he who has seized her takes her clothing; they shall strike her 50 blows with rods; they shall pour hot pitch over her head. † (Reilly 34). This quote is very powerful in the way that these acts which occurred often back then, would not be anywhere near tolerated today. The physical pain that the female would endure in t his process, not to mention the embarrassment of being stripped of all clothing leaving only jewelry, would be more than enough to relegate the role of the female. Perhaps the most disturbing part of the Assyrian code involves the tormenting of a slave that chose to wear a veil in public. The slave would be brought to the palace and stripped naked only to have her ears cut off. This is an extreme punishment that is unheard of in today’s terms. These punishments do serve a purpose however, in showing how the role of women in early civilizations was nearly absent. A palace decree was issued by the king of Assyria, Tiglath-Pileser. This decree mentioned the harsh punishments that would take place to man if he entered the palace without first being castrated. If an official knows a man is not castrated who enters the palace, then both the man and the official are subject to harsh punishment as well. â€Å".. they shall amputate one foot of each of these officials. † (Reilly 34). The interesting part about the palace decree would be how it fails to mention the role of the woman of the early civilization; it fails to even notice she existed. The woman was treated so unfavorably that it was not even a thought of whether or not she could gain entry into such a prestigious palace. The palace decree shows how the role of a woman from this era was basically absent and not in effect. In the latter part of Reilly’s text there is another code that shows the role of women in early civilization. Hammurabi’s code is a text that gives us an idea of people’s sense of justice and proper punishment. The concepts discussed in Hammurabi’s code include family, marriage, economics and contracts. From the family and marriage passage it was said that if a woman is wayward or unruly in an attempt to declare herself free from any marital relations with the husband she would receive harsh punishment. â€Å"†¦they shall cast that woman into the water. † (Reilly 60) This is a severe punishment and shows how limited a woman’s role was during the early civilization. In today’s world there would never be any punishment for a woman refusing to marry a man. Today, the role of a woman has drastically changed from being almost suppressed to more of an imperative role. In the economics and contracts portion of Hammurabi’s code it was said that a daughter or wife could be put up for debt services for up to three years. â€Å"†¦they shall perform service in the house of their buyer of the one who holds them in debt service for three years. † (Reilly 60). This slave like description of Hammurabi’s code is something that is not existent and has not been existent ever since the abolition of slavery. Back in the early era it was permissible to allow another buyer to acquire the services of a wife or daughter if there was an outstanding obligation that needed to be fulfilled. Times have changed dramatically for the better for the role of women, and if Hammurabi’s code was still in effect today it would be hard for people to take it seriously. Kevin Reilly did a remarkable job in using various texts to help illustrate the limited role of women back in the early civilization. The Assyrian law and Hammurabi’s code especially contributed the most to help portray the way that women were treated and thought of back during this early era. Women could not be trusted and were always placed on a level below that of a man. Today things are different and women have become a powerful force that lead different political and social sectors in the country. It is safe to say that the role of women has changed and has changed for the better for women. Instead of women not having power over anything including themselves as seen in the early civilization, they now have a well developed role in society and an immense power over themselves.

Acyl Group Definition and Examples

Acyl Group Definition and Examples Organic chemistry defines several moieties or functional groups. The acyl group is one of them: Acyl Group Definition An acyl group is a functional group with formula RCO- where R is bound to the carbon atom with a single bond. Typically the acyl group is attached to a larger molecule such that the carbon and oxygen atoms are joined by a double bond. Acyl groups are formed when one or more hydroxyl groups are removed from an oxoacid. Even though acyl groups are almost exclusively discussed in organic chemistry, they may be derived from inorganic compounds, such as phosphonic acid and sulfonic acid. Acyl Group Examples Esters, ketones, aldehydes and amides all contain the acyl group. Specific examples include acetyl chloride (CH3COCl) and benzoyl chloride (C6H5COCl). Sources IUPAC (1997). Compendium of Chemical Terminology, 2nd ed. (the Gold Book). Acyl groups. doi:10.1351/goldbook.A00123Smith, Michael B. (2013). Marchs Advanced Organic Chemistry. Hoboken, NJ: Wiley. p. 857. ISBN 978-0-470-46259-1.

Crimes Research Paper Example | Topics and Well Written Essays - 750 words

Crimes - Research Paper Example In the book, Hannibal Rising by Thomas Harris, the reader is able to find out more about the background of Dr. Hannibal Lecter, and why he kills and eats his victims. When Dr. Lecter was a small boy, he lived in Germany during the time that the Nazis took over the country in what they called their eastern campaign (Harris 21). He was from a very wealthy family. Eventually his parents were killed by Nazis who came to their farm to loot it. They killed all the adults in the house but saved the children (Harris 37). Eventually, due to many circumstances in Hannibals life, he had a psychological break. This break occurred primarily after Hannibals sister Mischa was taken "out to play" (Harris 60) by the looters and was killed and eaten instead; Hannibal found her baby teeth in a stool pot later that confirmed this event (Harris Hannibal 86). It is at this point that Hannibal divorces himself from his emotions and sees the world as very different. In the beginning, Hannibal kills for revenge and finds the men who killed his sister. By the time the viewer sees him in Silence of the Lambs, he is killing for sport. In most cases, Hannibal kills people who are disrespectful to him or those who annoy him. As Clarice Starling states in Hannibal, "its whimsy" (310) for Hannibal to kill. His only kills men. Dr. Lecter could be classified as a sociopath because he goes totally against societys rules. He is highly intelligent, very calculating and methodical, and knows how to psychologically control his victims. At some point, he becomes known as "Hannibal the Cannibal" Because he eats his victims or eats parts of them. He also tortures his victims before he kills them because it is fun for him to see how people react to his psychological way of playing with them. Dr. Lecter gives insight into James Gumb by stating that he "covets what he cant have" (Harris Silence ). Laura Sydell, a writer for National

Doing Business in Russia Research Proposal Example | Topics and Well Written Essays - 3000 words

Doing Business in Russia - Research Proposal Example Soviet-era management practices, a decaying infrastructure, and inefficient supply systems hinder efficient utilization of those resources. For nearly sixty years, the Russian economy and that of the rest of the Soviet Union operated on the basis of central planning meaning state control over virtually all means of production and over investment, production, and consumption decisions throughout the economy. Economic policy was made according to directives from the Communist Party, which controlled all aspects of economic activity. The central planning system left a number of legacies with which the Russian economy must deal in its transition to a market economy. The constant changes in the business environment can make business activities hard to plan for managers. Taxes in Russia are high but some reforms are implemented in order to reduce the amount of taxes paid by companies. During recent years, the government has put emphasis on reducing regulation and lowering taxes. Depending on the company’s location, the tax can vary. The thorough tax code has recently been implemented including a new VAT law and a new profits tax law. The VAT is quite similar to the EU model; however, input VAT is only recoverable when paid whereas output VAT can be accrued on a cash or accrual basis. The government actions regarding the VAT are mixed. On one hand, the Russian government decided not to apply VAT on certain actions (i.e. inter-company loans or derivatives transactions), but on the other hand, some other fields that were not concerned by VAT are now subject to it (i.e. transfer of patents, trademarks, copyrights). The new Profits tax law is lowering the tax rate to a maximum of 24 % and reduced the number of non-deductible expenses.

Product and market analysis of Ice Cream

Product and market analysis of Ice Cream Kulfi is a popular South Asian, ice cream made with boiled milk typically from water buffalo. It comes in many flavors, including pistachio, malai, mango, cardamom (elaichi), and saffron (kesar). Kulfi differs from western ice cream in that it is richer in taste and creamier in texture. As well, where western ice creams are whipped with air or overrun, kulfi contains no air; it is solid dense frozen milk. It is made by boiling milk until it is reduced to half. Then sugar is added and the mixture is boiled for another ten minutes. Then flavorings, dried fruits, cardamom, etc. are added. The mixture is then put in moulds and frozen. One can eat kulfi plain as is or it can be garnished with ground cardamom, saffron, or pistachio nuts. As well, Kulfi is also served with Falooda vermicelli noodles. But since the kulfi could not become world famous, with the concept of kulfi, ice-cream was started in 1981 in India. Then onwards it has been one big journey. on the road. Now, Ice Age The Healthy Ice Cream Parlor brings to you the new generation of Ice Creamsà ¢Ã¢â€š ¬Ã‚ ¦. The Evolution of Ice Cream Ice creams origins are not known to reach back as far as the second century B.C., although no specific date of origin nor has inventor been undisputable credited with its discovery. We know that Alexander the Great enjoyed snow and ice flavored with honey and nectar. Biblical references also show that King Solomon was fond of iced drinks during harvesting. During the Roman Empire, Nero Claudius Caesar (A.D. 54-86) frequently sent runners into the mountains for snow, which was then flavored with fruits and juices. Over a thousand years later, Marco Polo returned to Italy from the Far East with a recipe that closely resembled what is now called sherbet. Historians estimate that this recipe evolved into ice cream sometime in the 16th century. England seems to have discovered ice cream at the same time, or perhaps even earlier than the Italians. Cream Ice, as it was called, appeared regularly at the table of Charles I during the 17th century. France was introduced to similar frozen desserts in 1553 by the Italian Catherine de Medici when she became the wife of Henry II of France. It wasnt until 1660 that ice cream was made available to the general public. The Sicilian Procope introduced a recipe blending milk, cream, butter and eggs at Caf Procope, the first caf in Paris. Ice Cream for America The first official account of ice cream in the New World comes from a letter written in 1744 by a guest of Maryland Governor William Bladen. The first advertisement for ice cream in this country appeared in the New York Gazette on May 12, 1777, when confectioner Philip Lenzi announced that ice cream was available almost every day. Records kept by a Chatham Street, New York, merchant show that President George Washington spent approximately $200 for ice cream during the summer of 1790. Inventory records of Mount Vernon taken after Washingtons death revealed two pewter ice cream pots. President Thomas Jefferson was said to have a favorite 18-step recipe for an ice cream delicacy that resembled a modern-day Baked Alaska. In 1812, Dolley Madison served a magnificent strawberry ice cream creation at President Madisons second inaugural banquet at the White House. Until 1800, ice cream remained a rare and exotic dessert enjoyed mostly by the elite. Around 1800, insulated ice houses were invented. Manufacturing ice cream soon became an industry in America, pioneered in 1851 by a Baltimore milk dealer named Jacob Fussell. Like other American industries, ice cream production increased because of technological innovations, including steam power, mechanical refrigeration, the homogenizer, electric power and motors, packing machines, and new freezing processes and equipment. In addition, motorized delivery vehicles dramatically changed the industry. Due to ongoing technological advances, todays total frozen dairy annual production in the United States is more than 1.6 billion gallons. Wide availability of ice cream in the late 19th century led to new creations. In 1874, the American soda fountain shop and the profession of the soda jerk emerged with the invention of the ice cream soda. In response to religious criticism for eating sinfully rich ice cream sodas on Sundays, ice cream merchants left out the carbonated water and invented the ice cream Sunday in the late 1890s. The name was eventually changed to sundae to remove any connection with the Sabbath. Ice cream became an edible morale symbol during World War II. Each branch of the military tried to outdo the others in serving ice cream to its troops. In 1945, the first floating ice cream parlor was built for sailors in the western Pacific. When the war ended, and dairy product rationing was lifted, America celebrated its victory with ice cream. Americans consumed over 20 quarts of ice cream per person in 1946. In the 1940s through the 70s, ice cream production was relatively constant in the United States. As more prepackaged ice cream was sold through supermarkets, traditional ice cream parlors and soda fountains started to disappear. Now, specialty ice cream stores and unique restaurants that feature ice cream dishes have surged in popularity. These stores and restaurants are popular with those who remember the ice cream shops and soda fountains of days past, as well as with new generations of ice cream fans. According to legend, Marco Polo brought the secrets of ice cream with him from the Orient, together with other sundry savories. There is, however, no proof of that, although there is some evidence that the Chinese indulged in iced drinks and desserts, which gives some weight to the Marco Polo theory. The Chinese did, however, teach Arab traders how to combine syrups and snow, to make an early version of the sherbet. Arab traders proceeded to show Venetians, then Romans, how to make this frozen delight. The Emperor Nero was quite fond of pureed fruit, sweetened with honey, and then mixed with snowso much so that he had special cold rooms built underneath the imperial residence in order to store snow. In the 1500s, Catherine de Medici brought the concept of the sorbet to the French, who were soon to make a great improvement on it. As you will have noted, the above are frozen desserts, not ice cream. That invention awaited the development of the custard, then the discovery that freezing it would create a delectable dessert. This notable event occurred in 1775 in France, and was shortly followed by the invention of an ice cream machine, which did a much better job of creating a light and fluffy frozen custard than beating by hand could do. Thomas Jefferson, who imitated Nero in having a special cold room for storing snow, provides us with the first recipe for ice cream found in the United States. Not to be outdone, George Washington invested in one of the ice cream machines. Until 1851, ice cream (or, more frequently, cream ice) was solely made at home. But an intrepid man from Baltimore, named Jacob Fussell changed all that by opening the first ice cream factory. Near the turn of the century, the ice cream soda was created, although by who seems to be in questioneither James W. Tuff or Robert Green. It does seem to have been done by accident, howevera scoop of ice cream falling in a glass of flavored soda water. At any rate, the drink became a national craze, and many a girl and boy went courting over an ice cream soda. So many, in fact, that many municipalities passes laws forbidding the sale of soda water on Sunday. Quickly afterwards, the sundae was inventedit contained the ice cream, syrup, and whipped cream of the soda, but without the evil influence of soda water. Numerous variations existed. The next ice cream craze with the 1904 Louisiana Purchase Exposition in Saint Louis. Charles Menches was doing a lively business selling scoops of ice cream in dishes, all the way up to the point that he ran out of dishes. Frustrated, but determined to still find a way to make a profit, he lighted upon his friend Ernest Hamwi, who was selling a wafer-like cookie called zalabia (a Syrian treat). The combination proved irrestible. HISTORY OF THE ICE CREAM CONE For over a century, Americans have been enjoying ice cream on a cone. Whether its a waffle cone, a sugar cone or a wafer cone, what better way to enjoy a double scoop of your favorite flavor? Making Its Appearance The first ice cream cone was produced in 1896 by Italo Marchiony. Marchiony, who emigrated from Italy in the late 1800s, invented his ice cream cone in New York City. He was granted a patent in December 1903. Although Marchiony is credited with the invention of the cone, a similar creation was independently introduced at the 1904 St. Louis Worlds Fair by Ernest A. Hamwi, a Syrian concessionaire. Hamwi was selling a crisp, waffle-like pastry zalabis in a booth right next to an ice cream vendor. Because of ice creams popularity, the vendor ran out of dishes. Hamwi saw an easy solution to the ice cream vendors problem: he quickly rolled one of his wafer-like waffles in the shape of a cone, or cornucopia, and gave it to the ice cream vendor. The cone cooled in a few seconds, the vendor put some ice cream in it, the customers were happy and the cone was on its way to becoming the great American institution that it is today. A Business Is Born St. Louis, a foundry town, quickly capitalized on the cones success. Enterprising people invented special baking equipment for making the Worlds Fair cornucopia cones. Stephen Sullivan of Sullivan, Missouri, was one of the first known independent operators in the ice cream cone business. In 1906, Sullivan served ice cream cones (or cornucopias, as they were still called) at the Modern Woodmen of America Frisco Log Rolling in Sullivan, Missouri. At the same time, Hamwi was busy with the Cornucopia Waffle Company. In 1910, he founded the Missouri Cone Company, later known as the Western Cone Company. As the modern ice cream cone developed, two distinct types of cones emerged. The rolled cone was a waffle, baked in a round shape and rolled (first by hand, later mechanically) as soon as it came off the griddle. In a few seconds, it hardened in the form of a crisp cone. The second type of cone was molded either by pouring batter into a shell, inserting a core on which the cone was baked, and then removing the core; or pouring the batter into a mold, baking it and then splitting the mold so the cone could be removed with little difficulty. In the 1920s, the cone business expanded. Cone production in 1924 reached a record 245 million. Slight changes in automatic machinery have led to the ice cream cone we know today. Now, millions of rolled cones are turned out on machines that are capable of producing about 150,000 cones every 24 hours. FROM THE COW TO THE CONE How Ice Cream Is Made Everybody has a favorite flavor or brand of ice cream, and the debate over whose ice cream is the best rages on each year. While each manufacturer develops its own special recipes, ice cream production basics are basically the same everywhere. The most important ice cream ingredients come from milk. The dairy ingredients are crucial in determining the characteristics of the final frozen product. Federal regulations state that ice cream must have at least 10% milk fat, the single most critical ingredient. The use of varying percentages of milk fat affects the palatability, smoothness, color, texture and food value of the finished product. Gourmet or super premium ice creams contain at least 12% milk fat, usually more. Ice cream contains nonfat solids (the non-fat, protein part of the milk), which contribute nutritional value (protein, calcium, minerals and vitamins). Nonfat dry milk, skim milk and whole milk are the usual sources of nonfat solids. The sweeteners used in ice cream vary from cane or beet sugar to corn sweeteners or honey. Stabilizers, such as plant derivatives, are commonly used in small amounts to prevent the formation of large ice crystals and to make a smoother ice cream. Emulsifiers, such as lecithin and mono- and diglycerides, are also used in small amounts. They provide uniform whipping qualities to the ice cream during freezing, as well as a smoother and drier body and texture in the frozen form. These basic ingredients are agitated and blended in a mixing tank. The mixture is then pumped into a pasteurizer, where it is heated and held at a predetermined temperature. The hot mixture is then shot through a homogenizer, where pressure of 2,000 to 2,500 pounds per square inch breaks the milk fat down into smaller particles, allowing the mixture to stay smooth and creamy. The mix is then quick-cooled to about 40 °F and frozen via the continuous freezer method (the batch freezer method) that uses a steady flow of mix that freezes a set quantity of ice cream one batch at a time. During freezing, the mix is aerated by dashers, revolving blades in the freezer. The small air cells that are incorporated by this whipping action prevent ice cream from becoming a solid mass of frozen ingredients. The amount of aeration is called overrun, and is limited by the federal standard that requires the finished product must not weigh less than 4.5 pounds per gallon. The next step is the addition of bulky flavorings, such as fruits, nuts and chocolate chips. The ingredients are either dropped or shot into the semi-solid ice cream after it leaves the freezer. After the flavoring additions are completed, the ice cream can be packaged in a variety of containers, cups or molds. It is moved quickly to a hardening room, where sub-zero temperatures freeze the product to its final state for storage and distribution. ICE CREAM LABELING WHAT DOES IT ALL MEAN? There are many choices in todays ice cream case to suit a wide variety of consumer tastes. There is plenty of information on food labels, but what does it really mean? Here, the International Ice Cream Association sheds some light on how ice cream and related products are labeled. Labeling Definitions The U.S. Food and Drug Administration (FDA) sets standards of identity for many foods so that consumers will get a consistent product, no matter what brand or type they buy. For ice cream, FDA permits the use of nutrient descriptors such as light, reduced fat and low fat so that consumers know exactly what theyre selecting in terms of nutritional content. These FDA standards follow the federal Nutrition Labeling and Education Act (NLEA), which governs all food labeling. Here are some of the terms consumers are seeing in the supermarket, and exactly what those terms mean: Ice cream is a frozen food made from a mixture of dairy products, containing at least 10% milk fat. Reduced fat ice cream contains at least 25% less total fat than the referenced product (either an average of leading brands, or the companys own brand.) Light ice cream contains at least 50% less total fat or 33% fewer calories than the referenced product (the average of leading regional or national brands.) Low fat ice cream contains a maximum of 3 grams of total fat per serving Nonfat ice cream contains less than 0.5 grams of total fat per serving. Quality Segments In addition, there are commonly used marketing phrases that describe ice cream products in terms of quality segments, such as super premium, premium and economy. Several factors can contribute to a products quality segment, such as price, brand positioning, product packaging, quality of ingredients and the amount of overrun (air) in the product. Overrun refers to the amount of aeration the ice cream undergoes during its manufacture that keeps the mixture from becoming an inedible frozen mass. Overrun is governed by federal standards in that the finished product must not weigh less than 4.5 pounds per gallon. Super-premium ice cream tends to have very low overrun and high fat content, and the manufacturer uses the best quality ingredients. Premium ice cream tends to have low overrun and higher fat content than regular ice cream, and the manufacturer uses higher quality ingredients. Regular ice cream meets the overrun required for the federal ice cream standard. Economy ice cream meets required overrun and generally sells for a lower price than regular ice cream. Ice Age The Healthy Ice Cream Parlor Company profile: Name: Ice Age The Healthy Ice Cream Parlor Date of Launch: 20th September 2006 Promoters: Justin Dcosta Phinsy Chirayath Rahul Mahapatra Shruti Saraf Aaron Dsouza Fizzah S.J Product: Sugar free and Fat free healthy Ice Creams. Health conscious desert. Proposed Flavors: World famous Vanilla and 20 different mouth watering flavors. Project: Manufacturing and selling of healthy sugar free and fat free Ice Creams. Specially made for health conscious and sweet tooth people. Head of department/ management: Justin Dcosta : Finance Phinsy Chirayath : Public Relation Rahul Mahapatra : Marketing Shruti Saraf : Product Testing Aaron Dsouza : Human Resources Fizzah S.J : Outlet manager Investments: Total capital investment required: 7 crore Borrowed capital (loan from IDBI bank): 3 crore Total partners investment: 4 crore Each partners capital: 70 lakhs All the six promoters and administrators of Ice Age Ltd will be equal partners and the profits sharing ratio between them will be equal. Introduction. Founded in Mumbai, Maharashtra, Ice Age Ltd.. company is setting up an Ice Cream manufacturing and selling parlor. The project will have great significance in the present day context of increasing weight and illness among the youth as well as adults due to increasing fat and sugar intake due to increasing content of sweetener in the Ice Creams and juices. The manufacturing of all types of ice creams will be done at its production site and then will be transported to its parlors established in the heart of the city. Ice Age Ltd.. is entering the Indian market with an aim of establishing its brand as a necessity of the Indian buyers. The company will follow a strategic positioning approach for the target market. Ice Age Ltd.. has kept into account the income and behavioral factor of the Indian buyers while designing the products. It is important for the company to understand the consumer behaviour before it goes into such a market. The Indian consumer for the first time will have a premium product which is eco-friendly, healthy and affordable. Business strategy Our business strategy will include the determination of the most beneficial product market in term of establishing itself in this new product segment. The most important factor for the success of Ice Age Ltd. brand is the perception of the consumer and to what extent it can build a positive image in the consumers mind. The intensity of the business environment, the sustainable competitive advantage of a quality product will give it a strong base to build the market. It is important for us to adopt a different strategy for the Indian market since it is composed of quality buyers as well as those who will buy for their family. Thus, we shall introduce some new strategies so as to establish our self in the Indian market and develop a strong customer base. The Model used for preparing the marketing strategy by Ice Age Ltd.. in the Indian Market Product Range External Analysis Competitors Analysis Internal Analysis Environment Analysis Marketing Strategies Future Plans Conclusion The first growth vector will involves gaining penetration with the existing product-market Ice Age Ltd. will attempt to attract customers from competitors through its strategic positioning and will establish strong brand equity. The second growth vector will involves product expansion while staying in the current market. Ice Age Ltd. will then offer a new product. It will be aimed not only for the existing market but also for the price conscious segment. The third growth vector will apply the same products to the new markets. The fourth growth vector will be to diversify into new product markets. We shall concentrate on the second growth vector and study the strategy with respect to the Ice Cream market. Internal Analysis According to the recent studies, most of the newly launched product or services fail due to improper analysis of their internal and external needs. A company should most effectively and efficiently take care of all the internal matters and needs. Since internal analysis is so use full and the life cycle as well as pricing is totally depended upon this analysis, Ice Age Ltd.. has taken proper and fully effective steps in analyzing all the need and requirements of the company. During internal analysis the promoter should take care of the following things: Raw material requirement Power supply Labour requirement Working force Capital Working capital Internal rules and regulations Proper management Proper material handling External Analysis Customer Analysis The Indian market with its vast size and demand base offers great opportunities to marketers. Two-thirds of countries consumers live in rural areas and almost half of the national income is generated here. It is only natural that rural markets form an important part of the total market of India though the urban market is increasing drastically. Our nation is classified in around 450 districts, and approximately 630000 villages, which can be sorted in different parameters such as literacy levels, accessibility, income levels, penetration, distances from nearest towns, etc. The rural bazaar is booming beyond everyones expectation. This has been primarily attributed to a spurt in the purchasing capacity of farmers now enjoying an increasing marketable surplus of farm produce. In addition, an estimated induction of Rs 140 billion in the rural sector through the governments rural development schemes in the Seventh Plan and about Rs 300 billion in the Eighth Plan is also believed to have significantly contributed to the rapid growth in demand. The high incomes combined with low cost of living in the villages have meant more money to spend. And with the market providing those options, trends and tastes are also changing. Thus Ice Age Ltd.. has decided to enter this market with the basic idea of tapping the upper middle class which had established itself as a huge tapped market in the perception of a lot of national and multinational players who were then trying forages into the Indian market. Competitors Analysis NEED OF COMPARISION Consumer Mindset The consumers always have a different loyalty status for different brands. Sometimes they buy some brand due to the price or sometimes due to the features. Studying the consumers mindset is of vital importance as perception of individuals at the buying stage of various brands is unpredictable and ever changing. Market Share The market share of the players in the two wheeler auto market needs to be studied to know which company is in the booming stage and which company is in its closure stage. Also the advertisement and promotional share needs to be studied. Thus, market share helps us know the current market leader and market follower so that our company can develop an efficient marketing strategy for its product range after analyzing the current market players position. SWOT Analysis The SWOT Analysis i.e. the Analysis of the Strengths, Weaknesses, Opportunities and Threats of the company products and its competitors at a glance. It needs to be compared to get an overall analysis of all the major companies and to know the company having better strengths, more opportunities and on the other hand the company having more of weaknesses and threats. The above diagram represents the sales of the famous Ice Cream parlors in Mumbai and their sales before Ice Age entered the market This diagram represents the sales pattern of all the Ice Cream parlors in Mumbai including Ice Age Ice Cream Parlor after one year from the launch of Ice Age Ltd (Estimated) Environment Analysis High initial launch cost There is a large front-ended investment made in new products including cost of product development, market research, test marketing and most importantly its launch. To create awareness and develop franchise for a new brand requires enormous initial expenditure is required on launch advertisements, free samples and product promotions. Launch costs are as high as 50-100% of revenue in the first year and these costs progressively reduce as the brand matures, gains consumer acceptance and turnover rises. For established brands, advertisement expenditure varies from 5 12% depending on the categories. It is common to give occasional push by re-launches, which involves repositioning of brands with sizable marketing support. Market research Customers purchase decisions are based on perceptions about brands. They also keep on changing with fashion, income and changes in lifestyle. Unlike industrial products, it is difficult to differentiate products on technical or functional grounds. With increasing competition, companies spend enormous sums on product launches. Market research and test marketing become inevitable. The business rests on the two aspects that are brand equity and distribution network. Marketing driven In relative terms, marketing function has greater importance in the Ice Cream industry. The players have to reach out to mass population and compete with several other brands. The perceived differences are greater than the real differences in the product. Brand equity Brand equity refers to the intangible asset in the form of brand names. The consumers loyalty for a particular brand is due to the perception that the product has distinctively superior and consistent quality, satisfies his/ her specific needs and provides better value for money than other competing brands. A successful brand generates strong cash flow which enables the owner of the brand to reinvest a part of it in the form of aggressive advertisement/ promotion to reinforce the perceived superiority of the brand. The worth of a brand is manifested in the consumers insistence on a particular brand or willingness to pay a price premium for the preferred brand. Distribution network In this sector, one of the most critical success factors is the ability to build, develop, and maintain a robust distribution network. Availability near the customer is vital for wider penetration as most products are high value products. It takes enormous time and effort to build a chain of stockiest, retailers; dealers etc and establish their loyalties. There are entry barriers for a new entrant as a new product is typically slow moving and has lesser consumer demand. Therefore dealers/ retailers are reluctant to allocate resources and time. Established players use their clout to inhibit new entrants. However, when a product offers a strong breakthrough, equity build up rapidly and so does the distribution network. The major problems faced while marketing in the Indian market: Underdeveloped People and Underdeveloped Markets: The number of people below poverty line has not decreased in any appreciable manner. Thus underdeveloped people and consequently underdeveloped market by and large characterize the Indian markets. Many Languages and Dialects: The number of languages and dialects vary widely from state to state, region to region and probably from district to district. The messages have to be delivered in the local languages and dialects. Even though the numbers of recognized languages are only 16, the dialects are estimated to be around 850. Prevalence of spurious brands and seasonal demand: For any branded product there are a multitude of local variants, which are cheaper, and, therefore, more desirable to mass. Different way of thinking: There is a vast difference in the lifestyles of the people. The kind of choices of brands that an urban customer enjoys is different from the choices available to the rural customer. The rural customer usually has 2 or 3 brands to choose from whereas the urban one has multiple choices. The difference is also in the way of thinking. The rural customer has a fairly simple thinking as compared to the urban counterpart. Marketing Strategies Differentiation The concept is to make the product different from those of its competitor. When we look at the Indian Ice Cream market we see that the leaders naturals have constantly maintained its market leadership by constantly differentiating on the basis of new flavors. And coming up with line extensions with regular frequency. The only alternative for Ice Age Ltd. to survive in this industry will be to differentiate itself. This differentiation could be on the basis of the marketing mix. (Product, Price, Promotion, Place) Thus, as per the different factors of marketing mix 4 Different strategies are made to market in the developing cities in India. Target Market Ice Age the healthy ice cream parlor offers a wide range of sugar free and fat free ice creams. The ice creams are specially made keeping in mind all the health conscious people as well as youth and people who suffer from illness like diabetes. Ice Age is a healthy ice cream parlor which targets the higher middle class and rich class of the society. Due to the variety of flavors and the specialty of being sugar free and fat free makes the Ice Age Ice Creams more popular among the fitness and health conscious people. Ice Age targets the market where people are ready to buy healthy junk food due to their taste buds and the fact that Ice Age Ice Creams are totally fat free and sugar free with the same original taste. Hence Ice Age Ice Creams targets the market where people from age group 1 year to 80 years can enjoy their favorite ice cream keeping in mind health conscious people, diabetic people, young people, etcà ¢Ã¢â€š ¬Ã‚ ¦ Segmentation Segmentation variables Several variables differentiate consumers who prefer different kinds of Desserts, such as frequency of consumption, price sensitivity, relative importance of calories vs. taste, consumption occasion (at home, at work, at a social event, during recreation or at a restaurant), and desired serving size. The two most important variables are probably price sensitivity and the taste-calorie tradeoff. The reason that price sensitivity is especially important is that some consumers will pay high prices for a product of high q