Money Does Not Guarantee Happiness

Firstly, it is true that money doesn’t guarantee happiness. But then what does? In my very own opinion on this no one could exactly tell anything that can guarantee their happiness. Even the often talked about subject of health doesn’t guarantee happiness. I know thousands of people who are healthy yet are unhappy. So why don’t people say health that doesn’t guarantee happiness? Have you ever noticed that most of the sulking, miserable people that you meet in everyday life are rich people? The misery that these people go through is not because they donnot have enough money to by two square meals. It occurs due to the fact that everyone seems to have more expectations from money. Money cannot buy you everything but in the minds of people who give up everything for money, it is difficult to accept that they strove so hard to achieve partial success. I also think for a fact that money goes a long way to make anyone happy. As for me money enables me to buy food for myself and my family, and that makes me happy. Money enables me to buy a house for my family, and that makes me happy. Money enables me to send my children to good schools, and that makes me happy. Money enables me to go to places that I dream about, and that makes me happy. Money enables me to buy some stuff to make my life more comfortable, and that makes me happy. In other words, money goes a long way to help you live a happy life. In fact, the money itself will make you happy. When you are broke, even a dollar will make you very happy. Yes, after a while the effect wears off a little – the eleventh million is just another figure after ten million – but I can assure you that it comes in handy. And having money helps immensely as many of the things that you have to do either costs money or involves money. In short, money is a big part of the solution.

Financial Analysis of Mitchells & Butlers 2007 Annual Report

Title Page Date: 12/12/09 The following report is designed for the purpose of a business analysis. I have chosen to analyse Mitchells & Butlers PLC by firstly, looking closely at the annual report produced by the company over a two year period and secondly, by researching their financial activities further than the annual report explains. I will compare and contrast ratios to help give the reader a better understanding of the company’s profitability, liquidity, activity and leverage. Summary In my analysis of Mitchells and Butlers PLC accounts for the years ending 2007 and 2008 I found that the Group has a very complex financial structure. Especially with the occurrence of a financial disaster which ended in the loss of two years worth of earnings, which, in turn resulted in the departure of the finance director and calls for further boardroom departures from the disgruntled shareholders. Mitchells & Butlers is a high geared business and therefore a risky investment venture. The company are well positioned in the market for long-term success but the ratios do let down the attractiveness of investment by their much lower percentage of current assets to current liabilities, high gearing and low net profit margins. *Brief Historical Background* Mitchells & Butlers is one of the UK’s largest operators of managed establishments with a strong portfolio of branded and unbranded pubs and restaurants with a mass market appeal. Their popular brands include All Bar One, Harvester and Ember Inns. Founded in Smethwick Birmingham as a result of the Beerhouse Act of 1830 easing the law on domestic brewing, Henry Mitchell’s and William Butler’s breweries merged in 1989. The company acquired rival breweries and rapidly expanded and merged with Bass in 1961, emerging as Six Continents before separating into hotel and retail businesses and becoming Mitchells & Butlers once again. Implication of Ratios on Mitchells & Butlers *(M&B)’s Financial Position* Mitchells & Butlers Gross1 profit ratio for both 2008 and 2007 is 25% and 24. 9% respectively. An increase of 0. 1% is satisfactory during these trying times for Mitchells & Butlers PLC. This indicates that operating costs account for 75% of the sales revenue. These huge costs are largely down to M&B’s ‘value and volume’ strategy. The company feel they are well placed in the troubled economy as they offer great value for money. This strategy makes for a high sales turnover but not a huge mark up on the product. They are constantly striving to be as efficient as possible and have a low paid and low skilled workforce to help combat high operating costs, and gain a competitive advantage. The Group have faced a turbulent year, dealing with the economic downturn in consumer spending and the inevitable decline in alcoholic beverage sales across the sector as a whole. This was not helped by the introduction of the smoking ban in England and Wales, following suit from Scotland and Northern Ireland, and costs such as fuel and energy spiralling ever higher. It’s no surprise then, when we look at the Net Profit Margin2 and see that it has decreased by 1. 5% from 10. 9% in 2007 to 9. 4% in 2008. In the midst of a depression this decline is not too alarming. With a Gearing ratio3 of 2. 4:1 in 2008 and 1. 5:1 in 2007 there is a high risk involved when investing in this company. From analysing M & B’s debt structure it seems further leveraging of its balance sheet would be difficult given the harsh, current conditions in debt markets. The Group’s pension fund deficit creates further problems when trying to attract prospective private equity buyers. As you can see it has become a considerably higher geared company in 2008 and this is due to the considerable loss faced by the company in an unexpected twist in the Mitchells & Butlers story. When entering into a property venture with company R20, both groups were advised by the bank, as part of their loan agreement, to take out hedges against interest rates and inflation. This investment would prevent Mitchells & Butlers from losing as much money as they would have, had they not taken out the hedges in the instance that the market turned against them. The bank also advised the companies to do this, two weeks prior to the investment being made as the hedges could take some time to execute. The hedges were purchased mid July, by the end of July the credit crunch had kicked in and the bank withdrew its credit approved terms. Both companies were left with hedges in place but no investment to back them against. M & B held onto their hedges until January 2008 hoping for an upturn in the market. By January 2008 it had become apparent that this was not going to happen and M&B disposed of them. Using them would have been very risky, especially since finance director Naffah had already been let go. â€Å"At the end of last financial year, an exceptional accounting loss of ? 155m post tax was booked in respect of the hedges. The above settlement of the majority of the hedges results in a further ? 119m post tax exceptional loss which will be taken in the current year,† the company said in a statement. Looking equally bleak is M&B’s current ratio4 of 0. 888:1 in 2008 and 0. 391:1 in 2007. Many believe that businesses must have a current ratio of at least 2:1 to survive, proving Michells & Butlers as an unorthodox company. Unbelievably it functions with a negative working capital6, this is due mainly to the company keeping stock levels impeccably low and thus giving the acid test a similar result with a quick ratio5 of 0. 794:1 in 2008 and 0. 343:1 in 2007. Most of the stock is perishable, for example food served in their restaurants. A stock turnover7 of 9. 95 days in 2008 and 9. 75 days in 2007 is quite acceptable in the food and beverage sector. Low stock levels keep the business as liquid as possible. This gives the company some leverage when incorporated with the debtors8 and the creditor’s9 turnover which works out in favour of M&B’s debt structure. Debtors, pay-up within an average of 14. 3days. Contrast this with the creditors who give M&B, on average between the years 2007 and 2008, 66. 4 days of credit. That’s nearly five times as long as M&B allow their debtors. Another consideration I wish to highlight concerning the worryingly low current ratio is that for the most part M&B’s non-current assets are made up of property, plant and equipment. If the company found themselves with cash flow problems these assets could become non-current assets held for sale to help increase the current ratio. Return on Capital employed10 is 20. 18% and 19. 7% in 2008 and 2007 respectively. This is evidence that M&B is still a profitable company contrary to the problems arising in the last two years and are still gaining market share year on year. A three year plan has been put in place to rectify the hedging mishap. Ordinary Shareholders will not receive any dividend pay-outs for the next year three years as well as board members forfeiting their bonuses in a bid to pay off their ? 74m deficit. *How the inclusion of a Cash Flow* helps in the Analysis of the company’s financial position There are several advantages to preparing a cash flow statement along with the balance sheet and profit and loss account. The cash flow statement provides data which allows the reader to better understand where cash has come from, where cash has moved to, and why. If a company has no cash it cannot pay wages or bills or suppliers. Employers won’t come to work if you don’t pay them. Energy companies will cut off their supplies, as could the suppliers if the bills are not paid. If this happens the company may not be able to operate. This is why cash flow statements should be taken seriously by managers and done as often as daily if cash flow is tight. The cash flow statement explains where the cash and cash equivalents on the balance sheet come from in greater detail. It takes operating profit and adds back exceptional items, depreciation and amortisation to give us a better understanding of how much cash is to hand, as well increases and decreases in debtors and creditors. In M&B’s cash flow statement we can see that in 2007 M&B acquired ? m worth of Whitbread Pub Restaurants and made additional pension contributions of? 40m. In the cash flow statement figures can be compared more easily, they also aide preparation of forecasts. In both years a considerable amount of cash is spent on property, plant and equipment. It may be that these assets have not had time to realise their full potential. We can see that M&B has increased its cash and cash equiva lents by ? 12m at the end of 2008 compared to its previous year. Differences between the spread of cash year on year is quite apparent. In 2008 shareholders received ? 480m worth of dividends less than in 2007 as part of M&B’s three year strategy to eliminate hedging debt amounting to around two years worth of earnings. Conclusion At first glance, the ratios I have calculated show the illusion of a company in the midst of a financial crisis. But Mitchells and Butlers are breaking all the rules and coming out with a profit, succeeding where many competitors are failing, due to the down turn in the alcoholic beverage market and consumer spending overall. The hedging losses have no doubt affected a great deal of critical decision making regarding Mitchells and Butlers finances including investment attractiveness, risk taking and dividend payouts. The high amount of non-current assets is due to the extensive property portfolio which helps diffuse the worrying situation of such a low current and quick ratio. This company is constantly expanding and is year on year gaining market share. It adapts appropriately to its ever changing environment, as it keeps up to date with the economic climate and responds quickly to consumers needs. The ‘value & volume’ strategy is working well and the brands are becoming very well established in the UK. Debt payment is accounted for in the long term financial plan and the future looks far from dismal. I see a company trying to be as efficient as possible whilst waiting for the storm to pass. Appendix Gross Profit Ratio Gross profit x 100 Sales (turnover) 2008 – 477/ 1908 x100 = 25% 2007 – 472 / 1894 x 100 = 24. 9% Net Profit Margin Ratio Net Profit Before Interest & Tax x100 = Sales / Turnover 2008 – 179 / 1908 x 100 = 9. 4% 2007 – 207 / 1894 x 100 = 10. % Gearing Fixed Income forms of Finance : equity Fixed Income forms of Finance = Borrowings 2755 + Debentures 33 + preference shares 14 =2802 Equity – Capital Share 34 + reserves 2008 – 2802 : 1175 = 2. 4:1 2007 – 2317 + 47 + 14 = 2378 : 1576 = 1. 5:1 Current Ratio Current Assets : Current Liabilities 2008 – current assets 253 + non-current assets held for sal e 114 = 367 367:413 = 0. 888:1 2007 – current assets 303 + non-current assets held for sale 6 = 309 309:790 = 0. 391:1 Non assets held for sale within the next twelve months Quick Ratio / Acid Test Current Assets – stock Current Liabilities 2008 – 367 – 39 = 328. 328/ 413 = 0. 794:1 309 – 38 = 271 271 / 790 = 0. 343:1 Working Capital Days of Inventory /Stock Turnover Stock at the year end x365 Cost of goods sold 2008 – 39 / 1431 x 365 = 9. 95 days 2007 – 38 / 1422 x 365 = 9. 75 days Debtors Collection Period Debtors Turnover x365 Sales 2008 – 80 / 1908 x 365 = 15. 3 days 2007 – 69 / 1894 x365 = 13. 3 days an average of 14. 3 days Creditors Payment Period Trade Creditors x365 Cost of Sales 008 – 276 / 1431 x 365 = 70. 4 days 2007 – 243 / 1422 x 365 = 62. 4 days An average of 66. 4 days Return on Capital Employed Ratio Profit before interest & tax x 100 Capital employed 2008 – 179 / 1058 x 100 = 16. 9% 2007 – 207 / 1202 x 100 = 17. 2% Profit & Losss Account is profit after tax + any interest paid = 127 + 171 Capital Employed represents Share Capital =Called up shared capita l and share premium account = 34 + 14; the balance on the profit and loss account + 127 + 171 and any other reserve accounts in the balance sheets + 3 + 697 + 12 = 1058 for 2008

Nothing Gold Can Stay by Robert Frost and Where the Sidewalk Ends by Assignment

Nothing Gold Can Stay by Robert Frost and Where the Sidewalk Ends by Shel Silverstein - Assignment Example According to the research findings, it can, therefore, be said that the second half of the poem Nothing Gold Can Stay by Robert Frost talks about the consequences of having a good thing in a society. The part is viewed as an observation of the natural world. The poem describes identical moments in a life cycle. They are the daily, mythic and yearly. The poem uses each cycle to describe how something deemed to be perfect turns out to be the opposite of what is expected. Spring, down and Eden is used to describing situations where people are at the peak of their lives like being a young child and progressing with time to be an old man. In sum, Nothing Gold Can Stay by Robert Frost has a meaning that things or individuals who are highly upheld or successful are the same ones that are easily corrupted by times. The description is given by the speaker or poet of Where the Sidewalk Ends by Shel Silverstein reveals that the poet is conversant with the place. However, the through his words à ¢â‚¬Å"rest from his flight† reveals that the speaker is not comfortable with the present situation in the mentioned place. In the second stanza, it is clear that the speaker yearns for freedom in a different place other than the one they currently are in. However, despite the place â€Å"Where the Sidewalk Ends† is the challenge, the speaker is positive to come out victorious and this might represent a life situation which is threatening, but one comes out of it victorious. The arrows, however, represent a slim chance of hope as they are drawn using chalk. Chalks are easily washable and this can only mean that the speaker’s hopes of finding a way out were slim. The problem in â€Å"Where the Sidewalk Ends† is however solved when the speaker states that the children who drew the arrows knew the directions and would draw them once again in the eventuality of the arrows being washed down by rain. This could only mean that there are no impossible situations an d to even those that seemed impossible, a solution was just lying within waiting to be discovered.

Federal reserve monetary policy Term Paper Example | Topics and Well Written Essays - 750 words

Federal reserve monetary policy - Term Paper Example Money is a medium through which exchange takes place. Encyclopedia of Britannica defines function of money as a facilitator of the transaction between buyer and seller; however, money can be defined mainly in terms of three functions; as a medium of exchange, as a unit of account and as a store of value. (Functions of Money) If money had not been there all transactions would have to be done through barter system. That is a tedious process on day to day operations. Money also functions as a unit of account measuring the value of goods or services under exchange. Money holds some value at given time so it is a storehouse of value. It is not a best storehouse as it tends to depreciate overtime, if seen in the context of other assets such as land, gold, and silver. It is most liquid of all assets and its store value helps make us transaction. (Functions of Money) Central Bank Manages a Nation’s Monetary System The broad economic goals of monetary policy are full employment, sustai nable economic growth, and minimum inflation. The Federal Reserve achieves these goals by regulating and controlling the growth of money and availability of credit. It achieves its goals either by open market operations, altering lending rate or reserve ratio. (The Fed Today) A) Open Market Operations The Fed's tool for mitigating the effect of inflation and recession is through open market operations. The central bank sells and buys U.S. government securities in the open market; thus, influencing short-term interest rates and the growth of credit and money. When not enough money is available in the financial system causing economic slowdown called recession, the central bank buys securities. The funds used by the Fed in purchasing the securities will eventually arrive at local banks, which then will have more money to lend. This way more money will come into the financial system and create stabilizing effects. On the contrary, when the Fed realizes market is hot and too much money is in circulation or credit are available in the market causing inflation, the Fed will interfere and sell securities of banks. Thus extra money will be squeezed out of the system, reducing inflationary pressures and stabilizing the economy. (The Fed Today) Thus, final goal of monetary policy is a stable economy providing full employment and production, stable prices and steady growth. B) The Discount Rate The Discount rate is the intervening tool at the disposal with the Fed. It is the interest rate financial institutions charged by the Fed for short-term loans. Altering discount rate can discourage and encourage bank's investment and lending activities signaling central bank's goals and influencing the interest rates that banks offer loans at and pay to depositors. (The Fed Today) C) The Reserve Requirement The fed makes it mandatory to keep certain percentage of checking account deposits as reserve. Simply raising the reserve requirement banks will have less money to lend thus, r estricting the money supply. Opposite is also true; reducing the reserve ratio, banks will have more free money to lend and thus, money supply will increase. This tool is rarely used. Reserve requirement changes are indication that monetary policy is now moving toward a new direction. (The Fed Today) Stated Direction of Monetary Policy Since the 2001 recession and with the rising unemployment rate until mid-2003, the Fed reached to low interest rates of 1% by mid-2003. With the expansion and rising prices, the fed revised its target upward to reach 5.25% by mid-2006. With the economy entering into recession by December 2007, the target interest rates moved downward to 0 and 0.25 percent during December 2008. (Labonte, 2010) What came into notice of the monetary authorities that liquidity was not reaching to the financial system. Traditional transmission mechanism of monetary policy was not functioning. On this, the fed started making loans to non-financial firm and other financial i nstitu

Literature ReviewEvaluation (Cryptorchidism and Maternal Alcohol Essay

Literature ReviewEvaluation (Cryptorchidism and Maternal Alcohol Consumption during Pregnancy) - Essay Example Before doing the purpose statement, the authors have briefly discussed the problem of cryptorchidism in that it is a very common genital malformation in males, of which the aetiology is unknown. A brief review of literature on this topic has been done by the authors, and they have clearly indicated the possibility of implications of developmental genetic defects and other fetomaternal factors. Out of this literature review, the authors make a case for such a study in that the prevalence of such a disorder has been connected with parental lifestyle changes and environmental factors. Since normal testicular descent happens in two phases, transabdominal from 8 to 17 gestational weeks and inguinoscrotal from 26 to 35 weeks of gestation. Therefore, the authors argue that the physical, chemical, and biological, and endocrinologic stimuli for descent of testes lie in the fetus and the mother. The literature review assumes great importance here, since to hypothesize the research question, th e authors have done a thorough search of relevant literature. The authors connect maternal alcohol consumption as a probably cause for this. ... The authors rightly argue that most of the existing researches used retrospective data that might be compromised by recall and selection bias. Therefore, the authors establish the purpose of the research in that if a positive association is probable and indeed exists, it would be worthwhile to undertake the research so it may help prevent this problem in the newborn. Hypothesis: With a precise and succinct literature review, the authors logically derive the scientific thread of the assumption that maternal alcohol consumption may corrupt the fetal environment in uterus during pregnancy when the fetus is developing. Therefore, the reader is keen to believe the hypothesis that maternal alcohol consumption during pregnancy is positively associated with cryptorchidism. However, the gap in the existing research can be filled up by a prospective population-based cohort of pregnant women and their male offspring. To be able to do this, the authors used both qualitative and quantitative information on maternal alcohol consumption and other data on confounding lifestyle factors. The hypothesis statement is precise, well-structured, and generates interest in the reader, so he is keen to know the findings in the authors' research. Methods: Since this is a questionnaire study across different locations, the authors standardised the questionnaire, and the responses were collected in the beginning of the third trimester of pregnancy. Detailed history of alcoholism was collected in relationship with the frequency, amount, and binge episodes. Other lifestyle parameters were also collected. It was a joint perspective birth cohort study with sufficient sampling to be able to generate validity and reliability. Simultaneous with the

Tourism and Sustainability Essay Example | Topics and Well Written Essays - 2500 words

Tourism and Sustainability - Essay Example To successfully achieve sustainable tourism, concerned authorities, companies and managers have to collaborate in order to develop viable strategies. The union of the concerned persons is beneficial in ensuring tourism that is profitable. Wall, G. (1994). Sustainability in tourism leisure. Waterloo, Ontario: Department of geography, University of waterloo. Summary The article presents the outcomes and the proceedings of the meeting on sustainable tourism held in Tilburg University (Wall, 1994). The work and organization research center (WORC), participated in the preparation of the meeting, whose intentions were to raise issues concerning the differing aspects of sustainability that occurs to scholars of tourism and leisure. During the proceedings, an expert of Luton University doubted the possibility of successful tourism sustainability (Wall, 1994). Another from Netherlands stressed on the significance of community contribution on the issue. Jan philipsen from Netherlands availed s everal suggestions for complexity of sustainability concept. The participants presented various issues including the procedures of measuring visitor contentment in natural regions. Other issues in the meeting entailed cultural tourism in Indonesia and Europe. The discussion raised significant issues; the contradicting interests plus ways of uniting them, and the role of market plus state intrusion in ensuring sustainable tourism (Wall, 1994). Briassoulis, H. (2002). Sustainable tourism and the question of the commons. Annals of Tourism Research,. 29, 4, pp. 1065–1085. Summary The article addresses the tourism commons by describing the importance of sustainable development in social plus cultural areas (Briassoulis 2002, p. 1067). Various resources developed for the purpose of tourism are fundamental to the locals. This is because of the sharing that occurs at some points in life. The article indicates the function of the â€Å"common pool resources† in tourism sustaina bility and development. It provides various principles useful in the organization of these resources and the policies for future endeavors. From the economics and scientists description, CPRs are resources whose exploitation by a single user cuts down the quantity availed to others. In this case, omission of further utilization is complex. The article performs the analysis of the tourism commons stating their complexity culminating from their usability by diverse groups (Briassoulis 2002, p. 1071). It describes their nature as heterogeneous and made of tangible and intangible materials. The resources demand plus volatility is evident and contrasts the issue of tourists use because of changes between seasons. According to the article, there are problems of excessive use of the commons. Lack of proper management and incentive provision is evident. The associations between the commons plus tourism and other undertakings are present. Sustainable development issues are in detail with the consideration of community involvement in such affairs (Briassoulis 2002, p. 1083). James, T.G. (2001). Assessing Progress of Tourism Sustainability. Annals of Tourism Research, 28, 3, pp. 817–820. Summary Development of sensible criteria for monitoring the continuance of sustainable tourism, and considering the quality of systems instead of absolute sustainability is

Does a welfare state benefit society Essay Example | Topics and Well Written Essays - 1500 words

Does a welfare state benefit society - Essay Example Therefore, it is important to understand that a welfare state looks after the good beings of the people and the people who live in different countries of the nations. Some nation copies the example of these welfare state so that they could become perfect and also become top-ranked in the world the concept of welfare state is adopted by different people of the nations. In the end, it would be important to mention again that a welfare state is very important for the overall working basis of a country. Every nation must try it's very best to become a welfare state so that its people could live in prosperity and there are no issues for one another. A welfare state is thus a very important ingredient for bringing people together on one platform. This is needed for nation-building and unity which is very necessary in times which are trouble. The leaders must put emphasis on having a welfare state so that the people can elect them again to serve these people in return (Castles 2004). The le aders should be accountable for all their actions and steps so that there are no problems at all for the people living in these countries. Every government must try to become a welfare state so that it could serve the cause of its own men and woman and this is important in order to have prosperity, growth, and development within the infrastructure of the country. In the long term, this will have more productivity within the country itself which is a very important thing toward achieving the goals.

The Civil Rights Movement Research Paper Example | Topics and Well Written Essays - 1500 words

The Civil Rights Movement - Research Paper Example This was while the latter had no time to care for their own families. This paper will examine the novel The Help, connecting its themes and events to those of the civil rights movement and other relevant issues. The Help offers insight into the provocative subject of racial, gender and class segregation during the civil rights movement era. Stockett’s novel is an intriguing novel that examines the lives of black maids during the civil rights movement in the early 1960s. Stockett shows the relationship between African Americans and the whites as a complex continuum of abuse, mistrust, hate, dependence, attachment and shockingly, love. Notably, Stockett wittingly portrays this array of emotions in a humorous and agile manner. However, her expression at the end of the novel shows that portraying these mixed emotions was not an easy feat. In a personal excerpt at the novel’s conclusion, Stockett notes that there is no trickier subject for a Southern writer than that of love between a white and a black person within the imbalanced world of segregation. Nonetheless, Stockett portrays these emotions with equal degrees of seriousness and humor. However, the absence of reference to one of the most critical mass struggles of the South gives a sense of inaccuracy with regard to the novel. The mass struggle in this case refers to that which shattered the Jim Crow structure in the South during the civil rights movement. ... Prior to the year, 1965, African Americans sought to break state disfranchisement but were unsuccessful. However, the motiveless attack of peaceful marchers by state troopers, in Alabama, forced Congress and President Johnson to counter the resistance of Southern legislators to allow African American’s enfranchisement. The Help centers on the lives of three characters. They include: Skeeter, a fresh grandaunt from an affluent white family aiming at a journalist career; Aibileen and Minny, black maids who consented to speak out about the tribulations of African Americans. The three set out on a project to expose the ills of racial segregation in the South. The trio’s project coincides with the upsurge of the second wave of the feminist movement. Although the novel revolves around feminist movement events that preceded the Women’s Liberation Movement and the foundation of the National Organization for Women (NOW) by feminist leaders like Betty Friedman, the novel s hows that women, particularly African American women, began seeking freedom from segregation before such movements become public (Maslin 16). While The Help does not provide a perfect description of the events of the 1960s by suppressing the budding feminism of certain characters, the novel still touches on many pertinent issues relevant to 1960s feminism movement and civil rights movement. The Help showcases the role of women’s feminism movements in the larger civil rights movement. Stockett uses different characters to describe the feminist issues at the center of the civil rights movement. Firstly, Skeeter’s independence and rebelliousness towards restrictions enforced by societal norms shows not only a hint of feminism, but also the progress of the civil rights

Compare and Contrast the Operating and Financial Review in UK and Dissertation

Compare and Contrast the Operating and Financial Review in UK and Delaware US - Dissertation Example As the discussion declares the United Kingdom's version of the operating and financial review3 was made into a statute by a working steering committee and the Accounting Standards Board of the United Kingdom. The immediate and strict implementation of this United Kingdom operating and financial review was ordered by the head of the Department of Trade and Industry. According to the research findings more than sixty five percent of the respondent managers of the two hundred companies that traded stocks in the United Kingdom stock exchanges agreed that there should be an operating and financial review report. Their main reasons is that the stockholders will really need the operating and financial review report to determine if they will have to invest more money in the corporation or to withdraw their hard earned cash and invest in another more lucrative business. After approval by the United Kingdom Accounting Standards Board of the operating and financial review in 2004, businesses in the United Kingdom discontinued the use of the 1993 Delaware (USA) version operating and financial review. One major reason Accounting was born was because there had to be created a common language of business. Accounting is defined as the language of business. Accountants from the many countries like the United States, United Kingdom, and Asian countries get toget her to form an international accounting board. This international accounting board gives out pronouncement or rules that its member countries are required to follow. The main purposes for the establishment of such accounting pronouncements are consistency and comparability. Consistency and comparability covers financial statements between two years or between two companies having the same business types. When an American sees a balance sheet of the United Kingdom company, he could easily understands what the board of directors are trying to say because there is a standard and the accounting language used are universally understood. All companies are enjoined to follow the 1993 Delaware version of the operating and financial review when it was issued by the Accounting Standard Board. This includes all companies in Europe (including the United Kingdom ) and Asia. But since the Accounting Standards Board makes the implementation of its 1993 Delaware version voluntary, therefore companies may or may not follow such pronouncements or guidelines. Therefore,

How to Write a Good Essay Essay Example for Free

How to Write a Good Essay Essay A standard essay establishes a writer’s personal understanding, recommendation, analysis, and explanation of a specific topic. This piece of writing is generally used to teach, inform, orient, inspire, refute, warn, or even entertain the reader. As such, a good essay is well-researched, informative, interesting, well-written and easy to read. In order to write a good essay, writers can follow these guidelines: First, the chosen topic must be extensively researched from credible sources such as libraries, academic databases, factual websites, surveys, and interviews. Through adequate research, the writer gains sufficient knowledge in dissecting and discussing the topic at hand. In this stage, other areas and sub-topics are also discovered while listing notes, important keywords and ideas. Upon completion of the research, the writer must digest all useful information to plan and write the essay in a systematic manner that clearly explains its topic while distinguishing the introduction, body and conclusion of the essay. The introduction contains the thesis statement or central theme of the essay which gives a general idea on what the written work is all about. Read more:Â  How to write diagnostic essay samples. Therefore, the writer must strive to make it interesting enough for the reader to continue reading the whole essay. After the thesis statement, the body is written by using the researched notes and summaries taken during research. Initial questions previously laid down to determine the outline of the essay must now be answered. Ideally, this is done by composing several paragraphs where each paragraph systematically tackles questions addressing who, what, when, where, why and how. Supplementary examples geared towards reinforcing the thesis statement such as statistical data and other studies can also assist in further expressing the idea of the essay. However, the writer must keep in mind to cite sources and acknowledge them accordingly to avoid plagiarism. Ideas and words borrowed from others, even if paraphrased, should be cited using the required referencing style. Widely used examples of these styles include the American Psychological Association (APA) and Modern Language Association (MLA). Since there are many existing styles, the writer must pattern the citation and format of the written piece according to the required style. Meanwhile, the conclusion is written by summarizing the important points, reiterating the thesis, and providing a call to action sentence for the reader to act on. A good essay imparts a lasting impression while encouraging the reader to think. In finalizing the essay, the writer must thoroughly edit and proofread the entire work. Spelling, grammatical, and structural errors should be checked again and again. One good way to do a spell-check is to read the essay backwards and check each word carefully. Most of the time, a good essay written by a good writer undergoes continuous editing, rephrasing, and rewriting until a cleaner and more concise copy is produced. For those aspiring to constantly write good essays, reading is a definite must to expand one’s vocabulary and exposure to other styles of writing. Careful research, effective writing, and thorough editing are essential stages of writing a good essay. By following these guidelines, together with constant learning, practice and dedication, one can develop the skills on how to write a good essay.

Marketing plan of Tata Nano for UK market

Marketing plan of Tata Nano for UK market Tata is one of the biggest automobile manufacturer in India. Last year they have launch Nano which is the cheapest private car in the world. It is around Rs 1,000,000 which is  £1452.53 approx. Mr Ratan the chairman of Tata Ltd announced Nano model which a common middle class Indian can afford it easily and they called it as the Peoples Car. Nano was launched India 1st April, 2009. It was expected to be on road in July of the same year. It created a buzz in 2008 when it was first shown in an auto exhibition. People were so excited on the launching that on the first day of booking it received 5500 booking. The question arises, what makes Nano so affordable and cheap? Answer to this question Tata made it parts lighter, smaller, took all the shallow parts and changed without compromising the safety and fulfilment of environmental factors. According to Windecker (2005) these situation gives an emphasis the power of society of different cultures. In which low price cars have given high first choice over luxury, SUVs and sports cars. The latest trend has shown that low price cars are more in demand than the others even in the markets like US and UK. The Tata should be focus on the UK market. The reason behind selecting UK market as the primary target market is the status of India as a reasonable means in the market; UK Automobile market has the potential dynamics, potentials and communication similarities which are due to help an Indian company in the UK. The other potential markets that are to be considered are USA and Russia. USA is one of the largest markets in the world countries but th e reason for not considering US market as preferential is because quality requirements are very high and some non tariff obstacles which make it slightly harder for a new competitor to go into this market. The other reason is because the markets level of maturity, experience and competive pressure is quite high. On the other hand in Russian market, there were several factors high taxes on the new competitor etc which do not support an international company like Tata. This reason makes it less eye-catching than the UK market. The main being the development of the country is quiet tentative and dealers market is underdeveloped. The three models Tata Nano available in the market. Tata Nano, Tata Nano CX and Tata Nano LX. All the parts of the models of Nano will be imported to United Kingdom by Tata Industries. The car can be assembled by the factories in Halewood and in Northwest England. Tata Motors already have dealers in East Kent Audi in Kent and White May fair Audi in Greater London. Tata can distribute Tata Nano cars through these distribution centres only. 2.0 SITUATION ANALYSIS: Tata Motors Limited is arguably Indias largest automobile Company; it has revenues of over Rs. 1600 crores last year. Its Commercial vehicles are largest selling vehicles, and also it is ranked in top three in the passenger vehicles segment. Few of Tata vehicles also won the prizes in last three years. Another large announcement was made by Tata regarding their progress in the passenger vehicle segment. In January 2008 Tata announced that, The company would release a $2,500 car that could replace the motor scooters commonly used in developing countries to car around whole families (Carty, USA Today). The company is fourth largest truck and the second largest bus manufacturer in the world. Tata Motors also acquired Fords UK based car brands Jaguar and Land Rover in March 2008(BBC News, 2008). Ratan Naval Tata (Chairman of Tata Group), insist the need for an innovation like Nano is because of the nature of the market and transport of the country. In India availability and quality of mass transport are major problems. The two seated motorcycle is normally considered to be a family vehicle in India, Even though motorcycles are quite dangerous mode of transporting for a family. So with this in mind Tata Nano was created as a safer form of transport. (Pradeep Thakur, 2009) 3.0 Market Summary : The estimated number of cars on the road of United Kingdom more than 28 million, as per the survey more than 35% of the car on the road are low price vehicles. The price of such low price cars are estimated about say  £4500 to  £ 4812, which is almost 3 times higher than the price of TATA Nano.( Svend Hollensen, 2010) 3.1 Target Markets Identifying the target market for launching any product is necessary. So Tata have recognise the lower income group with family, students, first time buyers mainly young population, and used cars buyers as their potential target market. 3.2Positioning The greatest USP of Tata Nano is that it is the worlds cheapest car while being eco friendly as well. The company have not compromise the quality and safety of the car while making it cheapest car. By leveraging Tata Nanos competitive edge the positioning of the product can be achieved: industries Tata Motor who has been in vehicles industries (commercial, passengers utilities) since 1945 is already an experience player in the automobile market. Tata motor has good relationship with more than 100 components suppliers( Jagmohan Raju, 2010). 3.3 Geographics Tata Motors has targeted the urban area market such as London. Because according to the survey more than 60% of cars running in London are in lower price range. Secondary, the presence of Asian Community in London, Tata is a renowned name in automobile sector in India. That can play the fact that the market Tata is entering is not entirely new and it already have brand recognition. 3.4 Distribution review Tata Nano will be positioned as an affordable car in overseas markets same as it was done in Indian market.. The car will be assembled at pre-defined locations as the Easy to assemble kit will be imported from India. The proposed locations are Northwest England and Halewood. Its redistribution to showrooms can be done on regional basis. More than 40 sales offices will be opened throughout United Kingdom. 3.5 Competitor review The main competitors are Volkwagen, Renault, Peugeot, Toyota, BMW, Citroen, Ford, GM (Vauxhall), and Honda. As per the SMMT statistics, top Companies in selling cars in United kingdom are as follows: 4.0 SWOT Analysis: 4.1 Strengths: The first and foremost strength is that the car has low price, stylish, high fuel efficiency and environment friendly (Green House). Tata as company is already a known brand in the world which can create enough brand awareness in people to consider the product. The response of the car was very heart warming in the country of launch which increase the company turn over as well as the trading profit. Weakness The main weakness of the product is lack of luxury quality. And mere perception of the people because of the price of the product. The sophisticated buyer will feel that the product is not worth buying because of its price. The product is not technologically advance and the performance is average in compare to its competitors. 4.3 Opportunities: The product is relatively new. So in this case it can create an opportunity to Tata. As Nano is a nice specimen of Innovation. This is also an opportunity to the company to enhance its global presence. The market demand of lower price cars can also be an opportunity for the company launching the cheapest car in the world. 4.4 Threats: The major threat will be the competitors like Ford and GM. Their product Ka and Astra respectively are already major players in the market. The volatility of fuel price can also be seen as a major threat. The change of legislations and foreign policies can also affect the plan of Tata. The other threat face by the company can be the oil crisis, recession etc. 5.0 Pestle Analysis: 5.1 Political: According to Hormazd sorabjee, a top indian car journalist, Tata Nano is the most eco friendly and politically acceptable car ever launched in the market. It is expected that Nano will pressurize the automobile industry globally for have direct model in its price range. Other automobile manufacturers like Volkswagen have already shown interest by announcing their plans for a model of lower price range. But the cost will be slightly more when the factors like tax and manufacturing costs will be taken into account. The market will be surely affected by the increase in the oil price due the global economic unsteadiness which can also be a major factor. Any increase in the oil prices will affect the sales of luxury car, as it will surely go down. Mintel in 2006 stated because of this issue, an increase in the level demand has been developed towards the car with smaller engine with fuel effieciency. According to KPMG, 2004 Administrative barriers which quality controls and operations requ irements are not to be overlooked and a higher emphasis will be given to all safety measures and emission level which will result in increase in production costs. Because of which profit margin on the product will decrease. Mintel, 2006 stated that the increase of traffic on the road of UK can increase the threat of high capacity overload. Hill in 2002 stated in his article that the political relations between countries of operations can also be the factor which can affect the company. For example if India will cooperate with the UK within the government policy of favourability the UK government can leverage in tariff and non-tariff barriers which can make the entry for the company in UK market easier. The foreign ownership regulations (The market expansion mode (Hill, 2002) the government has remove some regulatory control from large numbers of industries which includes automobile as well. This means that it is up to the foreign companies to choose their mode of expansion the UK according to their preferences. 5.2 Economic: Strategies of pricing and potential profit on investment are the major issues that affect the current as well as the future market growth. These factor are to be considered while selecting a market. The UK market is viewed as a very mature market (Mintel, 2006). According to the present scenario the market is estimated to reach the value of  £31billions. But the overall UK market is experiencing negative growth due to the maturity level of the consumers. Nevertheless due to the impact of certain factors like society and technology the car segments with lower price range have considerable growth prospects. Mintel (2006) claims that there is a significant decrease in the confidence of new cars consumers. The decrease in the rate of GBP has created various confusion for manufactures consumers operating in pounds. The cost of labour in the automobile industry highlighted, the cost factor and capability of direct and indirect costs becomes one of the key issues in maintain advantage. According to the opinion of the industry specialists (KPMG, 2004), the issue that will influence the decision selecting the location the most is the cost of labour. According to the survey (KPMG, 2007), a major importance is given by the company on the cost of labour which can is describe cost of their retirement fund, healthcare and their legal services. The growth of present political and economic boundaries for example European Union, all European Union markets are now considered as a single EU market. This political policy can help Tata motors for entering in various European markets like Italy and France According to estimations of Nieuwenhuis Wells (2003) the European Union attracts the companies as the target market for a car manufacturer will remain high. They claim that the EU as a target market will be maintained to attract the manufacturers because of the increase of its market value and size. 5.3 Social Factors: Demographic factor is one of most important social factors. It affects the risk taking nature, spending power, consumer trends, lifestyle, and value per customer. The change of demographic trends allows the company to construct a plan which suites the particular product. The current demographics have gradually weakened the sales of family cars in the UK. Lifestyles The change of lifestyles and habits of the consumer can have a direct impact on their expenditures; Mintel (2006) also pointed out that in UK recent increase in the culture of having two or more cars in the family. Mintel (2006) adds that the negative effect of market development and increase in the prices of oil is challenge by the impact of change in the lifestyle of the masses. Thus, on the contrary, Tata Nano will experience healthy growth despite a fall in the sales of automobile in the UK. Because our target market will be the high population of students and female drivers in the country, 5.4 Technological Factors: The doors for new transactional options are open by the rapid growth of Internet in the market. Currimbhoy (2004) suggests that because of the constant growth in the areas of technology, like in the fields of communication and digital technologies have formed new opportunities such as e-shopping, new channels for marketing and new tools of marketing research. According to Mintel (2006) the problem in increase in capacity can be tackled by the using e-shopping by the leading car distributors. The growth in the channels of e-exchange between agents will be able to benefit the supply chain strategy of the company. 5.5 Environmental Factors: As per the UK market, Tata Nano is made environmental friendly, Tata also has exceeds measures for regulating standards on safety and pollution. The aim is to make Nano an eco-friendly car for the masses. As per the UK standards the car has been modified by replacing the seatbelts, glass, light, tyres and engine. Speed in miles, Indian road are on klilometre. Accordint to Data monitor, 2006b the car subjected to undertake government official crash tests and is also has to undergo an overall inspection. Then only the car is given approval for sale. After these all inspections the price of the car is expected to increase (Datamonitor, 2006b) 6.0Porters Five Forces: 6.1 Competitors bargaining power: The UK is highly consolidated automobile market. The competition is between Ford, GM (Vauxhall), BMW, Volkwagen, Peugeot, Toyota, Renault, Citroen and Honda. Because of presence of powerful and establish competitors a requirement of product differentiation has been created. According to Mintel (2006) the tough competition in the market introduces a significant price pressure and requires increasing overall promotional costs. The manufacturers had to close certain plants to cut the costs and survive on the market because of the present market conditon. At the moment, the major competitive strategies are new product development, an improvement in supply chain and above all serving the needs of emerging market segments (Mintel, 2006). The emerging requirements demands extremely high level of responsiveness towards operational. 6.2 Buyers bargaining power: In the UK market the buyers experience very strong bargaining power because the intensity competition on the global scale is high and overcapacity issue UK is always on the rise. According to Mintel (2006) A high level of bargain seeking behaviour is shown by the buyers. 6.3 Suppliers bargaining power: Even though Automobile manufacturers have consolidated forming large entities they do not make a significant shift of bargaining power in OEM-suppliers relations. According to Veloso Kumar (2002) a consolidation of different supplier groups is gaining because of the OEM sector. The sections like demand chain partners and large car dealers are experiencing bargaining power because of the overcapacity. 6.4 Threat of substitutes: Apart from direct competition from public transport, the major competition for automobiles are other transport services like taxis. One of the major substitute threats are the second hand cars market.According to Mintel (2006) the steady accumulation of second-hand cars has become one of the major reasons of the dramatic fall of the sales of new cars. 6.5 Threat of New Entrant: The threat of new entrant is minimises because the level of entry barriers like conlosidated industry, RD capability and well developed value added chain are quite high. Nevertheless, because the industry is much globalised, the concept of new entrant is not that clear-cut, new geographical markets are entered by existing manufacturers. Datamonitor (2006) also states that there is not enough measures introduce by EU countries to protect the market if the Chinese manufacturers tried to flood EU markets in the future. 7.0 Marketing Mix Strategy: 7.1 Product Review: There are three variants in the Nano range: Nano, Nano CX and Nano LX Only the Nano CX variant would be introduced in the UK Market for the first stage Tata Nano LX will introduced in the UK Market during the following year The car has achieved its low price by minimizing costs on unnecessary luxuries, the basic Nano comes without front and rear fog lights, with a heater or air conditioning, with anti-lock brakes, only one single windscreen wiper, manually operated windows, manual steering with no air bags, tiny 12 wheels, plastic body parts joined with adhesive instead of more conventional metal and welding and a two cylinder 623 cc engine that provides a massive maximum speed of 65 mph (around 105 km/h). Among the features of the car are: 7.1.1 Stylish and comfortable The design for Nano is made designed by taking a family in mind, has a roomy passenger compartment with generous leg space and head room. It can comfortably adjust four persons. Four doors with high seating position make the people to have more leg and head room. Yet with a length of 3.1 metres, width of 1.5 metres and a height of 1.6 metres, with adequate ground clearance, it can effortlessly manoeuvre on busy roads in cities as well as in rural areas. Its mono-volume design, with wheels at the corners and the power train at the rear, enables it to uniquely combine both space and manoeuvrability, which will set a benchmark among small cars (Pradeep Thakur,2009). 7.1.2 Fuel-efficient engine Nano has a rear-wheel drive, all aluminium, two-cylinder, 523 cc, 33 PS, multi point fuel injection petrol engine. Two-cylinder gasoline engine with a single balancer shaft is used for the first time in any car. The design helps the car to minimise weight, which results in maximising performance for consumed energy and delivers high fuel efficiency. The electronic engine management system controls the performance of the car. 7.1.3 Meets all safety requirements The current regulatory requirements are all taken in consideration in the case of Nano. Nano actually exceeds all safety measures. It has a strong passenger compartment because of an all sheet-metal body, seats belts, intrusion-resistant doors, crumple zones and strong seats. 7.1.4 Environment-friendly Tata motors are known for manufacturing eco friendly in Indian Market. Nano is not different it has tailpipe emission performance exceeds regulatory requirements. Nano has a lower pollution level in comparison to all two-wheelers being manufactured in UK today. The car has low carbon dioxide emissions because of the high emission, thereby benefiting in two an affordable transportation solution with a low carbon footprint. 7.2 Branding By help of branding the consumer can identify manufacturer of a product and them to send the feed of the products performance to the concern manufacturer or distributor. Branding creates a different identity in the products and services from the other. The main task of branding strategies is to convince the consumers that there is a meaningful difference among brands in the product category. In the case Tata Nano, corporate name is combined with products name for the sake of branding. Tata is fourth largest heavy vehicle manufacturer in the world, and it is a good strategies to cash in the brand value of the manufacturer. 7.3 Product Strategy The Tata Nano CX model will be first introduced with a 3 years warranty. The next Tata Nano LX model will be introduced in the following year, because Tata as a brand will be established by then. For all marketing campaigns the brand and logo will be displayed everywhere and on the car as well. 7.4 Pricing Strategies The Cost price is an estimated GBP 2, 420 or equivalent to INR 174,903, which includes import tax, sales tax, duties excise assembly cost and shipment costs. The prices show a strategy by which shares can be taken from more settled competitors. 7.4.1 Setting the price selecting price objectives Major three objectives of Tata should be for an effort to position itself in the UK Automotive market. The objectives are: Survival, maximum current profit and maximum market share. 7.5 Survival Intense competition from UK second car manufacturer, Perodua for a share of the automotive market segment for the below 1,000 cc category will act as an incentive fot Tata Nano. It will ensure that the car covers variable costs as well as some fixed costs. Survival in the case of Nano is a short term objective as in the long run. 7.6 Maximum current profit Tata in UK will set a price that will maximize current profits, cash flow and return on investment, after taking into consideration the demand and costs involved. Because the category of small foreign cars has not been really tested by other manufacturers, therefore the demand is rather difficult to estimate but Tata Nano for having a good response towards its entry into the UK market. 7.7 Maximum Market Share Tata is set to launch low price for a new car in order to attract a maximum number of buyers and a large market share by will implementing the market-penetration pricing in the UK. The cost can be decrease by achieving high volume of sales. This will allow the company to further decrease the price of the product. In the UK car market the low price prodices more market growth, this show the high sensitivity of the market. Tata is also confident that as sales increases the production and distribution costs will also fall. By this Nano will help to keep out competition and maintain its low-price position. The low-price entry will provide all Perodua consumers to have a best alternative. 8.0 PROMOTION STRATEGIES 8.1 Objectives of Promotion Strategies Before determine the promotion strategies, we need to very clear about what are the objectives we need to achieve. We know as above, our missions are to promote Tata nano in a UK and increase the sales quarterly. Tata Nano is very new for UK, they feel fresh with this new brand and concept of this car. Tata Nano will get into market in 2010. Brand awareness and concept/knowledge of this new car should be the companys first and foremost objective for promotion. Tata Nano burst into the worldwide market in the short time because of being so cheap. The advertisement and organize the event or campaign in sufficient detail to establish the good brand attitudes should be done properly because Tata is still new to UK market. For creating a strong brand equity awareness of brand is very important. The second objective should be persuasion through the medium of knowledge. The comparison between Nano and other cars which are more expensive and are not afforded by everyone can approve to be a good marketing tool for Tata Nano. Besides that the scheme of 30 days money return guarantee will also be introduced for the promotional purpose We can also have a 3 years free maintenance scheme for Tata Nano like other major car manufacturers 8.2 Advertising Program The main aim is to inform UK market that Nano is the cheapest car in the world. Create an understanding in the consumer to buy Tata Nano not just because its cheap but also its safe, useful, all in good quality and also environment friendly by developing an advertising program. 8.3 Online Advertisement The online advertisement should the first step taken by the company. Tata Nano already created a Web site www.tatanano.com on March 2009 for a good communication with the concern consumer. In the Web site, all the details of the car and company with images and videos are provided to customers. This can be a good strategy to bring the consumers close to the histpry of the company so that they can be more satisfied. In addition to images and videos, the website also has a links which shows the public feedback of Nano. Besides that, Blogs have become an important for searching any major information you require. Blogs is best place where people of same interest can discuss their issues and concern. By establishing a blog network a company can easily monitor the feedback and even can look for the potential new consumer. Blogs and Internet are at present the best and cheapest way pf creating brand awareness globaly. 8.5 Television Advertisement Television is expensive mode of advertisement but its ia also very powerful as product is fully explained and secondly the product get an image by exposing it to television. Tata can show Nanos attributes and persuasively explaining their corresponding consumer benefits. The company should lower advertising budget and should only air the advertisement on national channel between 7 to 11 pm. A good advertisement always creates a need in the consumer mind which increases brand equity as well as improve sales. 8.4 Newspaper Advertisement Beside the television, most of the UK reads newspaper every day because of the fact there are around 10 newspaper companies circulating it for free. So this can be a good mode for market coverage in a big city like London. Newspaper advertising is also not so expensive. 9.0 Channel of Distribution Strategies 9.1 Direct marketing channel (zero-level channel) Manufacturer Customers Tata Nano in UK can sold directly to its concern customers. By visiting the sales office or any special event the customer deal directly with the companies dealers for booking. Besides that, there should be a 24X7 customer care centre from where customers can get all the information they want for booking a new Tata Nano and there should be a 24 hrs attendant on the website who can chat live with the customers and give information about the product. These all ideas can help us eliminating the middle men from the chain which will surely decrease the variable costs. 9.2 Physical Flow Transporters, Warehouses Tata Motor at India Assembly Workshop At UK Customers From the diagram, we can understand that as per the basis of demand the car will send in parts from India and will b assembled in the workshop in the UK can know. The final step is to send the product direct for the customer collection. 9.3 Payment Flow Tata Motor at India Sale Office At UK Banks Customers Banks Customers can have two option of paying the bills either by cash or by bank. Because of this diagram the customer will be pay less because the cost of commission of the middle men like retailer and franchise are not included in the flow chart. It is also good for the Tata Motor because the payment will be collected more efficiently. 9.4 Information Flow Tata Motor at India Sale Office At UK Customers Informations like product, price development and so on can be given direatly by Tata motors to their customers. And by the help of various services like response calls and mailings or through internet blog, Tata can identify the need of the customers. The complaints of the customers have to be dealt directly. So that customer will be fully satisfied at the end of the day. 9.5 Promotion Flow Marketing Campaign/Event Tata Motor at India Sale Office At UK Customers Media Have two ways of promotion flow, directly and indirectly. Directly is well organize the marketing campaign, event and road show. By this way, well promote Tatanano to target market by face by face and provide the opportunities to them try to drive the Tatanano. Indirect ways are we will do the advertisement through media such as internet, TV, radio and also newspaper. By this promotion flow, Tata Motor aims to create brand awareness and increase the sales in the UK. 10.0 Financial Plan The overview of the Tata motors will be done in this section. The major financial aspect like expense forecast, sale forecast, break even analysis and their relation to the market strategy are included in the section. 10.1 Break even analysis Break even analysis indicates that 3369 unit or  £ 28,615,563 will be required in monthly sales revenue to reach the breakeven point. Table: Break Even Analysis Break even analysis : Monthly unit break even 3369 Monthly sales break even  £ 28,615,563 Monthly unit production 6083 Average per unit revenue  £8,492 Average per unit variable cost  £5,550 Average per unit fixed cost  £1,630.11 Estimated monthly fixed cost  £9,916,915 10.2 Sales forecast Sale was done with adjustment of seasonal factor and is on quarterly basis. Graduation month was used as seasonal factor to adjust our forecasted sales because our primary targets are the graduation students. There is an increase of 10% sales annually according to the forecast, graph given below represent the sale forecast. Figure : Sales Forecast 10.3 Marketing Expense Forecast Marketing expense forecast provides an indication about when our marketing plan has to be modified and it also keep marketing department focused toward their goal. Advertisement, marketing campaign, direct marketing and other are all the major categories in which the expensed are tracked down. The marketing budgeting is quite necessary for most of the companies from it affect the total sale of the quarter. In 2010 Tata motors believe that marketing expense will not be more than 4 percent of total sales. 11.0 IMPLEMENTATION AND CONTROL The idea behind the marketing plan of Tata Nano is to show the current standing of the company. The performance of the company can be improved by observing following areas of the company: Monthly and annual revenue of the company Monthly and annual expenses of the company Satisfaction of the customers A 10 percent growth in the annual sales of the company 11.1 Marketing Organization The main responsibility of a marketing manager should be taking control of all marketing activities. Marketing manager will designate all the promotional and advertising responsibilities to his juniors. Sales performance will be the responsibility of the sale manager. The entire department will be work under the guidance of marketing director 11.2 Contingency plan: Difficulties and risks: One of the difficulties that will be face by the company

Supernatural in Shakespeares Macbeth - The Witches and Lady Macbeth :: Free Essay Writer

Influence of the Witches and Lady Macbeth The last person you would expect to encourage you to commit a crime would be your wife. Macbeth is motivated by his wife and by three Witches and gradually becomes more ruthless, evil, and murderous as the play progresses. Lady Macbeth is first introduced in Act1 Scene 5: reading a letter receives from Macbeth describing the encounter with the Witches, and the prophecies which they given him. Lady Macbeth is very ambitious; believes that Macbeth is too kind and loyal to take the steps needed to become king. "Yet do I fear thy nature; it is too full o’ the milk of human kindness to catch the nearest way." Lady Macbeth uses the weaknesses of Macbeth to convince him to kill King Duncan: she challenges his manhood "When you durst do it, then you were a man." "Thou esteem’st the ornament of life and live a coward in thine own esteem." She tries to make him feel guilt: Macbeth promised to kill Duncan he changes his mind. "What beast was’t, then that made break this enterprise to me" In Macbeth the Witches are shown as being evil, conniving, and cruel. "Here I have a pilot’s thumb, wreck’d, as homeward he did come." The Witches play a major role in convincing Macbeth to kill Duncan. They give Macbeth and Bonquo three prophecies: "all hail Macbeth hail to thee, thane of Cawdor" "all hail, Macbeth that shalt be king hereafter" "thou shalt get kings, though be none." Bonquo doesn’t take these prophecies seriously, but Macbeth shows some ambition for power. "If chance will have me king, why, chance will crown me." Macbeth becomes more dependent to the Witches. In Act 4 scene 1 Macbeth returns to the weird sisters, demanding what the future would bring. The Witches gave him three prophecies: "Macbeth! Macbeth! Macbeth! Beware Macduff, beware the thane of Fife." "none of woman born shall harm Macbeth" "Macbeth shall never vanquish’d be until Great Birnam wood to high Dunsinane hill." As the play goes on Macbeth turns for the worse. He becomes more ruthless, evil, and murderous. After killing Duncan, Macbeth feels remorse and guilt. "To know my deed, ‘twere best not know myself. Wake Duncan with thy knocking! I would thou could’st." Not being able to return to Duncans room and place the knives is a show of weakness and remorse.

Book Review of Goosebumps Stay Out of the Basement :: essays research papers

I have read a book called Goosebumps Stay Out Of the Basement. It was an intresting book and it was a little confusing because the characters jumped around in the story. Also, when you were reading the story you feel like you missed out on a part and you just have to go along with the story and find things that happen in the past. The author of this book is R. L.Stine. He has written many books in the Goosebumps series and they all hold there scariness in many ways.They are a series of scary and supernatural made up stories.These are some books that he has written:The Abdominal Snowman of Pasadena,Attack of the Mutant,Bad Hare Day,The Barking Ghost,The Cuckcoo clock of Doom,The Curse of the Mummy's tomb,Deep Trouble,Egg Monsters From Mars and many more.The genre of this book is fiction because it has ficticious characters that are not real and are not true including monsters. I chose this book because it looked very intresting and I was very drawn to this book when I saw it. By just looking at the picture on the front cover was very intresting and creepy and I like those things. In the beginning of the story, Margaret and Casey are talking about how there dad a scientist is acting very weird. They notice that he has been down there in the basement with his plants and weird machines for a long time. He had hardly ever come up from the basement to get fresh air. When he did come up he would'nt even want to catch a frisbee. He also did not spend two minutes with either of them when he did come up. They also notice his skin getting a pale green and speaks in very bad manners that the kids have never heard before. Then in the middle of the book they find out some very uncomfortable things about there dad and they feel as if he is not there dads anymore. When the two kids had gone down into the the basement [which there dad had yelled at them and told them not to go down there] they found a whole bunch of weird plants and the air was all mooshy and thick. They kinda noticed that one of the plants were breathing and it was true because when they went near the pla nt you could actually hear it breathing.

Instruments of Change :: Third World Countries Progress Essays

Instruments of Change As our world is becoming more technologically advanced, many countries are being forced to change their ways. Many Third World countries are in the process of modernization, though some are ahead of others. Besides modernization, there are other factors that can influence a country to change. These factors consist of the military, a charismatic leadership, ideology, bureaucracy, and religion. The military can be a very powerful instrument of change. For example, the majority of countries in the Middle East are ruled by the military. The military is seen as a very capable institution because of the fact that it can build or destroy nearly anything. It is also most representative of the society because it includes all classes and types of people. An illustration of the military as an instrument of change is the military takeover of Egypt, led by Nasser in 1952. The military takeover of a government is often referred to as a coup d’etat. Nasser was a member of the Free Officers. Nasser, like other members, came from a lower-middle class background and was frustrated with the feudal system that was being enforced in Egypt. Under the feudal system, only two percent of the people owned an entire 75% of the land. Due to the unfairness and the people’s hatred of the current king, the military took over the land of Egypt. The second instrument of change is leadership, which plays a significant role in the process of change. Nasser became the leader of Egypt after the military revolted. In 1953, Nasser gave a famous speech in Alexandria where someone fired four shots at him but missed. Nasser was praised for this speech, stating "I live for Egypt, I die for Egypt." These words turned Nasser into a charismatic leader- a leader who is seen as a type of God and is a huge role model to the people. During his rule, Nasser wanted to give Egypt back to the Egyptian people. Nasser accomplished this by giving extra plots of land to peasants, passing Agrarian Reform Acts to help out the lower classes, and by gaining control of the Suez canal. Needless to say, Nasser was seen as a great leader and hero in the Third World. The third instrument of change is ideology. Ideology is simply a belief system- what one feels is good or bad. Ideology can also be referred to as a set of political ideas or values.

Culture of Pakistan Essay

The 17th century Badshahi Mosque built by Mughal emperor Aurangzeb in Lahore The society and culture of Pakistan (Urdu: Ø «Ã™â€šÃ˜ §Ã™ Ã˜ ª Ù ¾Ã˜ §Ãš ©Ã˜ ³Ã˜ ªÃ˜ §Ã™â€ Ã¢â‚¬Å½) comprises numerous diverse cultures and ethnic groups: the Punjabis, Kashmiris, Sindhis in east, Muhajirs, Makrani in the south; Baloch and Pashtun in the west; and the ancient Dardic, Wakhi, and Burusho communities in the north. These Pakistani cultures have been greatly influenced by many of the surrounding countries’ cultures, such as the Turkic peoples, Persian, Arab, and other South Asian ethnic groups of the Subcontinent, Central Asia and the Middle East. In ancient times, Pakistan was a major cultural hub. Many cultural practices and great monuments have been inherited from the time of the ancient rulers of the region. One of the greatest cultural influences was that of the Persian Empire, of which Pakistan was a part. In fact, the Pakistani satraps were at one time the richest and most produc tive of the massive Persian Empire. Other key influences include the Afghan Empire, Mughal Empire and later, the short-lived but influential, the British Empire. Pakistan has a cultural and ethnic background going back to the Indus Valley Civilization, which existed from 2800–1800 B.C., and was remarkable for its ordered cities, advanced sanitation, excellent roads, and uniquely structured society. Pakistan has been invaded many times in the past, and has been occupied and settled by many different peoples, each of whom have left their imprint on the current inhabitants of the country. Some of the largest groups were the Proto-Indo-Aryans, of which Sindhis and Punjabis descend from and later Iranic peoples which the Baloch and Pashtuns descend from. Other less significant ones include the Greeks, Scythians, Persians, White Huns, Arabs, Turks, Mongols, Buddhists, and other Eurasian groups, up to and including the British, who left in the late 1940s. The region has formed a distinct cultural unit within the main cultural complex of South Asia, the Middle East and Central Asia from the earliest times, and is analogous to Turkey’s position in Eurasia.[1] There are differences in culture among the different ethnic groups in matters such as dress, food, and religion, especially where pre-Islamic customs differ from Islamic practices. Their cultural origins also reveal influences from far afield, including Tibet, Nepal, India, and eastern Afghanistan. All groups show varying degrees of influence from Persia, Turkestan and Hellenistic Greece. Pakistan was the first region of South Asia to receive the full impact of Islam and has developed a distinct Islamic identity, historically different from areas further west.[1] Ancient sites in Pakistan include: Zoroastrian Fire temples, Islamic centres, shi’a shrines/Sufi shrines, Buddhist temples, Sikh, Hindu, and pagan temples and shrines, gardens, tombs, palaces, monuments, and Mughal and Indo-Saracenic buildings. Sculpture is dominated by Greco-Buddhist friezes, and crafts by ceramics, jewellery, silk goods and engraved woodwork and metalwork. Pakistani society is largely multilingual, multi-ethnic and multicultural. Though cultures within the country differ to some extent, more similarities than differences can be found, as most Pakistanis are mainly of Aryan heritage or have coexisted side by side along the Indus River for several thousand years, or both. However, over 60 years of integration, a distinctive â€Å"Pakistani† culture has sprung up, especially in the urban areas where many of the diverse ethnic groups have coexisted and ithe country now having a literacy rate of 55%, up from 3% at the time of independence. Traditional family values are highly respected and considered sacred, although urban families increasingly form nuclear families, owing to socio-economic constraints imposed by the traditional culture of the extended family. The past few decades have seen emergence of a middle class in cities such as Karachi, Lahore, Rawalpindi, Hyderabad, Quetta, Faisalabad, Sukkur, Peshawar, Sialkot, Abbottabad, and Multan. Rural areas of Pakistan are regarded as more conservative, and are dominated by regional tribal customs dating back hundreds if not thousands of years. â€Å"Pakistan’s culture is again unique like the rest of the country. Pakistan’s geography is the meeting point of South Asia, Central Asia and West Asia/Gulf. Its culture could be termed as a combination of sub continental, Islamic, Regional, English, and more recently global influences. Let us consider them piecemeal. The newly born Pakistan had to have a sub continental leaning, having been a part of for last 5000 years of its civilization. However, the Indus Valley, present day Pakistan, culture was different from the rest of North India or South India†. (Quoted Pakistan’s Identity, History and Culture, from the famous book Gwadar on the Global Chessboard by Nadir Mir)

The American Era

The American Era Historical Background * The Filipino revolutionists won against the Spaniards who colonized us for more than 300 years. * The Fil-American war resulted in the defeat of Gen. Miguel Malvar in 1903. * The American Rule was influenced by two factors: 1. ) EDUCATION- many were given a chance to study and English was used as the medium of instruction. 2. WRITERS- went through stages of development to acquire enough proficiency in the new language – imitative of the style and the subject matters of the American and European authors * Filipino writers went into all forms of literature like news, reporting, poetry, stories, plays, essays, novels, etc. Their writings clearly depicted their love of country and their longings for independence. * Imitation soon faded, writers began to turn to: native ideas and circumstances- inspiration for their writings.Movement Against the U. S. Colonialism * the printing press was used to block the American culture from entering the P hilippine lifestyle * Newspapers in our different dialects flourished all over the archipelago. * *Writers were given the chance to show and prove the true talent of the Filipinos * *Writers during these period drew ideas from the Propaganda Movement and the Revolutionary Characteristics of Literature During American Regime Three groups of writers contributed to Philippine Literature during this period. * Literature in Spanish The inspiration of Filipino writers in Spanish was Rizal. * Rizal’s two novels (Noli and Fili) contained the best qualities of a novel ever written, in English or in Filipino. * Those who were inspired to write in praise of Rizal were Cecilio Apostol, Fernando Ma. Guerrero, Jesus Balmori, Manuel Bernabe, Claro M. Recto, etc. Example: by Manuel Bernabe Recodar! Ay del alma que recuerde! la quiebra que ha sufrido la ilusion la memoria es la fiera que nos muerde el pobre Corazon English translation: To remember! Poor soul that recordsThe sufferings you und erwent in illusion Memory is the fire that snared My poor heart. * Literature in Tagalog * Florante at Laura of Francisco Balagtas and Urbana at Felisa of Modesto de Castro became the inspiration of the Tagalog writers. * The advent of American period includes (1)Tagalog Drama (2)Tagalog Short Story (3)Tagalog Poetry * Julian Cruz Balmaceda classified three kinds of Tagalog poets. They were: * Poet of the Heart (Makata ng Puso) * Poets of Life (Makata ng Buhay) * Poets of the Stage (Makata ng Tanghalan) * Literature in English We can trace the beginnings of Philippine literature in English with the coming of the Americans thus, this period is divided into three time frames, namely: * The Period of Re-orientation: 1898-1910 * By 1900, English came to be used as a medium of instruction in the public schools. From the American forces were recruited the first teachers of English. * By 1908, the primary and intermediate grades were using English. It was also about this time when UP, the forerunner in the use of English in higher education, was founded. Writers of this period were still adjusting to the newfound freedom after the paralyzing effect of repression of thought and speech under the Spanish regime. * The Period of Imitation: 1910-1925 * By 1919, the UP College Folio published the literary compositions of the first Filipino writers in English. They were the pioneers of in short story writing. * They were then groping their way into imitating American and British models which resulted in a stilted, artificial and unnatural style, lacking vitality and spontaneity. * Writers of this folio included Fernando Maramag, Juan F. Salazar, Jose M.Hernandez, Vicente del Fierro and Francisco Tonogbanua. * The Period of Self-Discovery: 1925-1941 * By this time, Filipino writers had acquired the mastery of English writing. * They now confidently and competently wrote on a lot of subjects although the old-time favorites of love and youth persisted. * They went into all for ms of writings like the novel and the drama. Other Forms of Literature * Ilocano Literature * Pedro Bukaneg: Father of Ilocano Literature. His name was derived from the word Bukaneg meaning Balagtasan. * Claro Caluya: Prince of Ilocano Poets. Known as poet and novelist. Leon Pichay: known as the best Bukanegero (from Bukaneg). Also a poet, novelist, short story writer, dramatist and essayist. * Literature of the Kapampangans (Pampango Literature) * Juan Crisostomo Soto: (Father of Kapampangan Literature). The word CRISOTAN (meaning Balagtasan) in Tagalog is taken from his name. * Aurelio Tolentino: He truly proved his being a Kapampangan in his translation of KAHAPON, NGAYON AT BUKAS into Kapampangan which he called NAPON, NGENI AT BUKAS. * Visayan Literature * Eribert Gumban: (Father of Visayan Literature) He wrote a zarzuela, a moro-moro and a play in Visayan. Magdalena Jalandoni: She devoted her talent to the novel. She wrote ANG MGA TUNUK SAN ISA CA BULACLAC. LITERARY GENRES POE TRY * Written in 3 languges (Filipino, Spanish, English and in the different dialects) * Some known poets were: Maximo KalawPaz Marquez Benitez Carlos P. RomuloMaria Agoncillo Carlos Bulosan Salvador P. Lopez * There were three collection of poems printed, namely: * Filipino Poetry edited by Rodolfo Dato * The English German Anthology of Poets edited by Pablo Laslo * a pre-war collection by Carlos Bulosan ESSAYS Essays during this period improved with years in quality and quantity, in content, in subject and style. * The notable writers of essay during this period were: * Political, social reflective essays * Critical essays * Personal or Familiar essays * The notable writers of essay during this period were: * 1940: Salvador P. Lopez’ Literature and Society * 1940: Camilo Osias – The Filipino Way of Life * 1941: F. B. Icasiano (Mang Kiko) were reprints of the best of Icasiano’s essays in the Sunday Times Magazine under the column From My Nipa Hut. SHORT STORY S hort stories in English of early Filipino fictionists are marked with American style * changed with the founding of the UP Writers Club (1926) whose aim was to enhance and propagate the â€Å"language of Shakespeare† * â€Å"Dead Stars† by Paz Marquez Benitez- was made the landmark of the maturity of the Filipino writer in English * Many writers followed Benitez like: Icasiano Calalang Manuel Arguilla Arturo Rotor * Paz Latorena *STARTED PUBLISHING STORIES MANIFESTING SKILLS IN THEUSE OF THEFORIEGN LANGUAGE & AKEEN FILIPINO SENSIBILITY * The combination of the foreign language and the culture of a Filipino enabled fictionists to roduce great literary works * The public can now relate to the story because the public also experiences what the story has to say and they can now understand the language being used by the writer. Works like: * His Native Soil by Juan C. Laya * How My Brother Leon Brought Home a Wife by Manuel Arguilla * many other stories which depicted the F ilipino life NOVEL * With the founding of the Philippine Writers League in 1936, Filipino writers began discussing the value of literature in the society they lived in. * this move was led by: Salvador P.Lopez whose works centered on proletarian literature * Other novelists of this period are: * Jose Garcia Villa * Francisco Arellana * Fernando Maria Guerrero * Amador Daguio * Sinai Hamada * Ilokano novelists: * Leon Pichay * Hermogenes Belen * Mena Pecson Crisologo (whose â€Å"Mining wenno Ayat ti Kararwa† is considered to be the Ilokano version of Noli Me Tangere) SARSWELA * During this period, SARSWELA GAINED POPULARITY * Most of the sarswelas if not all, are directed against he American imperialists. * Equally remarkable sarswelas durong the period are the works of: * Severino Reyes â€Å"Walang Sugat† Patricio Mariano â€Å"Anak ng Dagat† * Other noted sarswelitas: * Aurelio Tolentino * Juan Abad * Juan Matapang Cruz * Juan Crisostomo Sotto BALAGTASAN * na med after Francisco F. Balagtas * a debate in verse; a political joust * done almost spontaneously between protagonists who debate over the pros and cons of a certain issue * The first ever Balagtasan was held on March 1924 at the Instituto de Mujeres, with Corazon de Jesus and Florentino Collantes as rivals. * Jose Corazon de Jesus as the first ever king of the Balagtasan.

Physical Education: Synoptics : David Beckham Essay

David Beckham has been playing football since a very early age. He now plays for Manchester United at an elite level and captains England. He trains and competes very regularly. 1.AGGRESSION Several aspects of football have progressed vastly in the last decade. Many of which are relevant to the increasing position of aggression in football today. This means that aggression is very much a part of David’s sport, and an aspect that he must understand. Governing bodies and referees are now much more open and understanding about aggression in football as they have realised the increasing influence that it has in the game. The rules reflect this, as retaliation (an aggressive act) is now an automatic ‘sending off’ offence. This also applies to raising of the hands and any intent to harm. Rivalry between teams is also an issue. When playing a local rival obtaining points is not the players’ only motive for success. The two teams aim to win as simply defeating the opposition matters more than obtaining points. However this may lead to aggressive behaviour as the player feels that the stakes are higher (pride). It is also possible and supported through theory that in games in which he feels he is under-achieving he finds himself being cautioned. This may be due to the theory that states the athletes’ ability is inadequate compared to the task they are given. This then causes them to act in an aggressive rather than assertive manner.

Organizational Communication in Crisis of Diet Pepsi Syringe Scare

INTRODUCTION In the 1993 incident of syringes were found in the Diet Pepsi cans, it is clearly showed that the company had demonstrated an effective halting from the company’s openness with the media. While dealing and handling with the crisis, the PR team of Pepsi focused on both their internal and external publics. It is important for an organization to have a strong internal communication as these internal publics helps to convince the external publics of the organization.The internal publics of Pepsi were consists of the employees of Pepsi like executives, managers, stakeholders, and anyone that has a say in the production of Pepsi’s products whereas the external publics consists of the whole American population, competitors, FDA and the media. Communications among the internal publics were strong among them and the company directed an immediate disclosure of all facts (Anton, 2011). Internal communications is important in an organization as it helps to build bridge s among the employers and employees.Besides it can also help them to deal better with their external public in whatever they are doing regardless of solving crisis or as a tool of communication with its public. Pepsi then targeted the external public differently and chose to focus on television as its media vehicle. Besides, they also took a firm stand and said no to product recall. Alpac Bottling Company, the local canning and distributor of Diet Pepsi was one of the external publics that were involved with the crisis and Pepsi let the company to explain to the media that product tampering was merely impossible.Publics do not believe that the case is over and then a documentation video was released. Pepsi invited media to the production plant and film the process. This video then shows the process of the sodas and that the product was virtually tamper resistant. Other techniques used by the PR of Pepsi include 24 hours hotlines for consumers query and complaints, assigning a specia list to work with the FDA and the legal department were also involved during the communications process (Pepsi case, n. d. ).Videotapes were then sent out as well as memos and the surveillance footage that reaffirmed the Pepsi‘s innocence. As the hoax of the syringe scare goes on, a third video news release was aired by Mr. Weatherup that shows a surveillance camera from a convince store showing a lady purchased the product, opened it and then placed a syringe without anyone noticing. Commissioner Kessler from FDA then help a press release on June 17, 1993 notifying the public that the allegations scare of syringe was false (Yaxaira, 2011).Throughout the crisis, it is clearly showed that communications between Pepsi and both its internal and external publics was very effective as the PR department disclosed all information to everyone as it is needed. They also convinced the external publics that on the proceedings of their investigation on a daily basis to ensure the public t hat the problem is under control. In this case study of Pepsi Syringe scare, the communication flow of the organization can be related with Blake and Mouton’s Managerial Grid of the human resources approach.In this approach, it maps out different leadership styles compared to other approaches as this model concerns about both people and production. There are five prototypical management styles subbed under this model which are impoverished management, country club management, authority-compliances, team-management and middle-of-the-road management. All these five management styles have to be balance in concerning about people and production.Concern for people in this model simply relates to the degree where a leader considers the needs of employees and team members before deciding on how to accomplish a task (Blake & Mouton, n. d. ). This concern can be seen when the PR team of Pepsi decides on its strategies, tools and techniques in communicating with both internal and e xternal public during the crisis period. The authorities also guide and brief their employees on how they should communicate effectively with the public and customers.Besides, the PR team of Pepsi also assigned a specialist to work with the FDA and to keep the employees on track that what is happening throughout the period and ensure the public that the problem is under control. Concerns for production, defined to the degree which a leader emphasizes production effectiveness and efficiency when deciding how to best accomplish tasks (Blake & Mouton, n. d. ). This concern can be seen when Pepsi emphasize on the effectiveness and efficiency of their production of the product.The authorities even invited media to film the production plant and produce a documentary video news release to ensure the external public that product tampering is virtually impossible in the production. Finally a surveillance video of a convince store proved that Pepsi is free from allegations. Both of the co ncerns in the model can conclude that team-based communication direction is effective in handling such situation. The communication in the organization on handling with the crisis of Syringe found in Diet Pepsi Cans in 1993 was effective in the internal public but was not that efficient towards the external publics.The president of the organization along the management team explaining and updating the employees on everything that is happening and by ensuring to the employees that the corporate office does not think that the tampering is the happening at the plants and by confiding and trusting in the employees abilities increased the employee’s morale at a critical time during the crisis. Employees were treated with the highest consideration. Advisories were sent to bottlers and managers at least once daily but often several times per day to update the situation. This information was to be shared with employees and customers.These actions not only displayed willingness to coo perate but also efforts by the company to give the public any and all information it needed at different stages of the crisis progression. The 1993 crisis of hypodermic syringes reported in Diet Pepsi had effective communication results stemming from the company’s openness with the media. In addition, other technique used by the crisis management team was included 24 hours hotlines for consumers query and complaints, assigning a specialist to work with the FDA and the legal department were also involved during the communications process (Pepsi case, n. . ) (Fearn-Banks, 1996). The communication effectiveness of the company was a success as the crisis lasted for nine days with the crisis communication team working 15-20 hours a day. The team’s efforts resulted in positive media coverage during and after the crisis, which in turn reflected positively for the companies involved. Furthermore, Pepsi distributed instructing information, helping the public to react to the sit uation, making it an excellent example of how to handle a crisis. ( Strurges, n. d. ).The poor communication with the external public can see from the action they did to the public after the incident happened. The first complaint regarding syringe was announced on 10th June 1993 but the company did not took any action to that. Pepsi-Cola Co. said that they could not just tell the public about the incident without having substantial amount of evidence to enforce their claim. Pepsi invited media to capture the canning process then the public relation department demonstrating the bottling procedure.The crisis management team then releases the video news release (VNR) through the media such as television to reach the public eye after a total of 55 complaints about the case in a week. The video shows that is impossible to interfere with the process of the product, the speed of the equipment, and the safety precautions to produce the product. The management team should show the public wit h this video once they receive the first complaint and not to deny that it is not possible to have a syringe in the can. This is to ensure that they can still gain trustworthy from their customers.The vice president of product safety, Jim Stanley said that â€Å"Because you don’t have a lot of time to gather the facts, you’d better take advantage of the first few hours that you do have. If you waste those early hours in trying to deliberate on what you should do, you are going to miss an opportunity to solve a lot of issues that you could best solve immediately†. In this case, the company had applied the Likert’s System IV where decision-making is performed by every organizational member and goals are set by complete work groups (Rensis Likert, 1967).It can see from the unity of the Pepsi-Cola Co. employees’ work together to overcome or helps to solve the crisis in a short period of time. The crisis communication team works 15-20 hours a day in ord er to manage and try to work out the solution. Besides, the Likert’s System IV also emphasize on control of the organization in every level where the Pepsi-Cola Co. practices it during the crisis. The crisis management team had meeting with the internal publics on the ways to communicate with the external public or the way to answer media questions.The way that internal publics answer questions from the external public is very important because they are representing the company to voice out the answer. According to most of the report from the publics including medias, the Pepsi-Cola Co. had handled the crisis effectively and able to rebound and increased its sales after the crisis. However, the organization could handle the crisis more effectively and better. With a better and effective internal and external communication, it will help to reduce the damages strike to their company.Pepsi-Cola Co had showed a video regarding of the canning process and let the public understand how hard it would be to get an object into one of their cans. The company also showed a video of a woman trying to stick a syringe in a Pepsi can at a supermarket. However, they did not release the video on the spot. Public do not believe it although the company state that there were no way to insert the syringe in the bottling process at the plant. This become serious when there were 50 cases reported the following week. This proved their communication to the external public was not effective enough to convince the public when the crisis occurred.They should release the video once the crisis happened and not release after they found out the case become nationally. If they could release the video instantly once they found out they were innocent, the public no matter from internal or external will tend to believe it was a product tampering cases. They external public (consumer) will not under panic attack (worried about the syringe might bring AIDS or hepatitis which it usually relat ed to it) and the media will report the incident and make a clear statement which the product is safe to drink to the audiences.The surveillance camera which caught the women trying to put a syringe into the Pepsi can when the worker turn around sound more solid and easier to gain public convincing than the video which shot about the canning process. The organization can handle the situation differently in the other way was the CEO of the company should stepped out as the spoke person once the first two cases occurred. At first case occurred, the CEO and president of the Pepsi-Cola Co. was not the spokeperson who accepted the interviewed by the reporter.The first spokeperson was the Alpac Bottling Company CEO. As Alpac should be responsible of the incident, due to the external public only knew little about Alpac, they will only pointed their finger to Pepsi-Cola Co. because they were the imminent owner of the bottling company. Therefore, to decrease the damages brought by the crisis , the Pepsi-Cola Co. CEO should appeared in the first place to clarify the crisis and try to gain back public trust. The words from the company’s CEO will be more credible, powerful and convincing.The external communication (consumer, media, government, etc) is important to the company as the internal communication (employee, employers and managers) will also play a crucial role in the organization. For the external communication to the publics who involved, they will tend to believe the words from the leader who was ultimately responsible than a public relations practitioner. The media can get a clear statements, answers or announcements from the CEO directly. As for the internal communication, the CEO who involved themselves into the crisis will gain more trustworthy and support from the employees or subordinates.Different company practices different approach and theory. As for the Pepsi-Cola Co. , it practiced human resources approach during the crisis. The human resources approach was widely adopted by organizations in the 1960s. This participative, team approach to management-employee relations recognized that employees can contribute both physical and mental labor (Berger, 2008). Human resource approach acknowledges contribution of classical and, especially, human relations approaches to organizing (Miller, 2009).According to the human resources theorist, individual labor is an important ingredient to reach organization goal but also must consider individual feelings in the organization. Therefore, human resource approach is the mix of classical approach and human relations approach which emphasize on both meeting organization goal and individual feelings. In human resource approach, communication became multidirectional and more interactive compare to the other two approaches. Feedback was sought to enhance problem solving and stimulate idea sharing and innovation content was added to social and task information in communications (Berger, 2008).C oncepts of employee trust and commitment emerged as important issues, and organizations began to share communication decision-making among employees (Berger, 2008). There are two theories categories in this approach which are Blake and Mouton’s Managerial Grid that concentrates on how a manager can combine values of the human relations school and the classical school into a leadership style and Likert’s system IV that specify the details of the organizational form that will incorporate the ideals of the human resources movement (Miller, 2006).In the crisis of syringe found in Diet Pepsi cans in 1993, the Pepsi-Cola Co. is using the human resource approach in their organizational communication. During the crisis time, they not only work to solve the crisis but they also treated the employees with utmost consideration. The public relations department contacted the management department on how to communicate with the employees regarding the crisis situation and how to ans wer questions from the public and the employees (Yaxiara, 2008).All 400 field locations were aware at all times of what was going on in the company, what information is being reported, how the government was handling this matter, and how the company is responding to this matter (Yaxiara, 2008). They updating the employees regarding the situation by sending advisories to bottler and manager several time a day. When there is any update from the investigation, the president was also contacting the management department to share the latest information.This show that the company was concerning on employees feelings, therefore had explaining and updating the employees on everything that is happening and by ensuring to the employees that the corporate office does not think that the tampering is happening at the plants and by confiding and trusting in the employees abilities increased the employee’s morale at a critical time during the crisis (Yaxiara, 2008). Besides, they giving all information and teach the employees to respond is to control the information that shared with the external public and able to meet the company goal which is solving the company crisis.The communication of the organization toward external public is also applying the human resources approaches. The company public relations department convinced the external public of the investigation proceeding on a daily basis to ensure to the public that the problem is under control (Yaxiara, 2008) in order to calm the public feeling and control the external situation. We cannot deny that management must exercise control for organizations to succeed. Based on the crisis that faced by Pepsi during the year 1993, we can see that the internal publics were well-handled. The Pepsi-Cola Co. did a very good job with keeping employees up to date with new information about the crisis they faced. This consequently gave faith to the internal publics. The Pepsi CEO also fully utilised his power towards the ext ernal public. During the crisis, Pepsi CEO appeared on every major network to share the message that defect was practically impossible in their products. A  management  function  aimed at achieving defined  goals and usually have three  components which included taking  corrective action, setting standards and measuring actual  performance.The contribution of power is very important in order to exercise control towards management. The power of ideology and hegemony made the employees in the Pepsi-Cola Co. to think that the organization hierarchy is needed to be practiced by the company. The Pepsi-Cola Co. created an ideology to the internal publics that the crisis can never related to the company and keep the employees up to date. The public relations department got in touch with the management department on how to communicate with the employees about the crisis situation.There are also discussion on the way to answer questions from the employees and the public. All 40 0 field locations were aware at all times of what was going on in the company, what information is being reported, how the government was handling this matter, and how the company is responding to this matter. Internally, Pepsi prevented organizational disorder by updating employees with daily advisories to over 400 facilities nationwide. By doing this, the frame of an idea will be built in the internal publics’ mind. This ideology made the internal publics tend to trust the company.In order to convince the external public, the internal public must have faith in the company too. The leader applied the legitimate power in the communication process within the internal public. The crisis management team which leaded by Craig Weatherup, the president and CEO of Pepsi was in charge of the education of the senior management regarding how to answer the questions from the employees and public. The employees were educated by the senior management regarding how to answer the questions from the public. This shows that the company are practicing legitimate power which is the power was emerged from positions and titles.The people on the higher hierarchy have the right to control the lower level. However, the communication can be in formal and informal way. It also can be written and spoken and including all the channels. However, the legitimate power wasn’t excluded. From here, we can see that the Blake and Mouton’s Managerial Grid of the human resources approach was applied in the internal communication of Pepsi-Cola Co. This approach assumes that leaders will be most effective when it concerns both concern for people and concern for production.The way that Pepsi-Cola Co passed their messages was practicing classical approach which is based on the hierarchy level. The legitimate powers of the leaders successfully control the management and formed an effective communication. On the other hand, they pass the message by using both formal and informal way . This is basically practicing human relations approach. By combining these 2 approaches, Blake and Mouton’s Managerial Grid of the human resources approach was applied in order to control and the organization and way of communication.Pepsi successfully overcame the crisis by using different communication techniques and management power to show the internal publics and external publics that this scare was not possible. The internal publics were considered as successful in working together. The company guaranteed the external publics that there company does not experience any problems in manufacturing their products. It is now one of the biggest manufacturers in the world. Pepsi is connected with 200 countries and profits of the organization continue to rise per annum. This incident has not been discussed for years.Pepsi-Cola Co. will stay successful if they use the right communication way when facing problems. References Anton. (2011, May 8). Effective communication case stud y analysis: case 9-1 Pepsi Syringe. Retrieved November 6, 2011, from http://essays24. com/print/Effective-Communication-Case-Study-Analysis/48875. html Berger, B. K. (2008, November 17). Employee/Organizational Communications. Retrieved November 5, 2011, from Institute for Public Relations website: http://www. instituteforpr. org/topics/ employee-organizational- communications/ Blake, R. , & Mouton, J. 2010, May 19). What is Blake & Mouton's managerial grid? Retrieved from http://www. businessmate. org/Article. php? ArtikelId=188 Crisis management/Pepsi syringe scare. (n. d. ). Retrieved November 6, 2011, from http://iml. jou. ufl. edu/projects/Spring01/Morrison/Pepsi. html Pepsi case study. (n. d. ). Retrieved November 3, 2011, from http://www. personal. psu. edu/bms5263/Pepsi%20case%20study%20marketing%20310. docx Yaxaira. (2008, February 9). The Diet-Pepsi crisis. Retrieved November 6, 2011, from http://newsflavor. com/alternative/the-diet-pepsi-crisis/