9 Russian Slang Words Every Russian Learner Should Know

Hamlet As Seen Through The Feminist Critical Lens

Hamlet As Seen Through the Feminist Critical Lens As stated by Tim Gillespie in his text Doing Literary Criticism, the concept of literary criticism is the field of â€Å"interpreting, analyzing, and evaluating† literary works. Thus, literary criticism is not objective; rather, it varies subjectively depending on the critic and the lens, or school, they choose to view the work of literature through. Though the actual content of literature is of extreme importance, the way it is approached is of nearly equal magnitude, as varying approaches open new and insightful views texts previously regarded as static. The feminist lens is one major school of literary criticism. The feminist school has various goals when being used to scrutinize a piece of literature. As Gillespie points out, historically texts were written by males with primarily male protagonists, and thus, the male sentiment is most dominantly expressed in many works of literature. The lessened representation of women in literature is usually confined to typical stereotypes of the historical period. This can be seen in Shakespeare’s play Hamlet, and this will be further explored and discussed. Through the feminist lens, women’s presence and portrayal in the play, as well as the common stereotypes about women in Shakespearean society, can be studied carefully, despite the centuries that have passed between the play’s conception and the present. Additionally, as stated in Literary Theories: A Sampling of Critical Lenses,Show MoreRelatedThe And Human Nature s Love For Categorization1011 Words   |  5 Pagesmay be unfair to the work itself. Due to the complexity of literature, and human nature’s love for categorization, we started looking at pieces of literature through â€Å"critical lenses†. The lenses help us narrow down the aspects of our criticism, effectively categorizing them. For example, there are four main critical lenses: Marxist, Feminist, Psychoanalytic al, and Archetypal. Each of the four has a unique set of aspects it analyzes, but all have one thing in common, they help find the underlyingRead MoreHamlet: a Feminist Approach Essay examples1224 Words   |  5 PagesHamlet: A Feminist Approach Sexism: the belief or attitude that one sex is inherently superior to, more competent than, or more valuable than the other (most commonly used for male superiority). This idea that women are weak is not a new one in the modern world. It has been studied for countless years along with the concept of a patriarchal society. A patriarchy is defined as a system of society or government in which men hold the power and women are largely excluded from it. Such systems currently

Economic Impact of London Luton Airport Free Essays

string(23) " Ryanair and Wizz Air\." Abstract The current report assesses the extent to which airport management is attempting to increase the positive economic impacts of airport operations and to make recommendations for future improvements in this area. Through a critical assessment of London Luton Airport with regards to certain foundational constructs regarding direct, indirect and induced impacts, it is clear that there is a strong reliance on commercial activities of an airport in ensuring that economic impacts are maintained and therefore in increasing these operations will have the effect of increasing the economic impact. This may necessitate an reconsideration of airline partnerships with the airport in order to increase traffic through the airport itself. We will write a custom essay sample on Economic Impact of London Luton Airport or any similar topic only for you Order Now Impact on Surrounding Areas Managing the economic impacts of airports necessitates the development of policies which will assist and manage the impacts. Policies that have been developed to assist the management of economic impacts associated with airport operation and development include transport policies, planning policy, aviation policy and general economic policy. These policies will be used to position the airport within the existing economy by allowing for access and management of the economic impacts with regards to integration into the existing transport system, managing the commercial and residential development around the airport and recognition of the associated social benefits of airport activity (ACI, 2004). It is against these policies that one can analyse the associated economic benefits of London Luton Airport (LLA). The economic impact of airports in general, as well as those applicable to LLA includes direct, indirect, induced and catalytic impacts. Broadly, there are a number of categories of impacts that one can observe in attempting to account for the economic impact, namely revenue impact, employment impacts, personal income impact, and tax impacts (TRB, 2008). These impacts are as a result of the fact that airports are large generators of economic activity and as such, the commercial activity associated therewith provides a significant opportunity for micro- and macroeconomic growth (Graham, 2008). The wider catalytic benefits include the contribution that these factors make to broader economic activity, such as inward economic development and the development of the tourism industry. It is clear that LLA does contribute to these broader catalytic benefits, however the focus of the current report will not consider these impacts as they are difficult to measure due to the prevalence of touri sm in the Greater London area. The prevalence of London as a tourist destination is renowned globally and therefore isolating the impact of LLA on these economic indicators is difficult to measure. An easily observable economic impact of LLA is the direct revenue generation opportunities that it provides to the local economy. As a result of airport operations there are significant opportunities available for direct business expenditure on goods and services with these profits likely to be reinvested in the local community (Halcrow, 2010). This impact is extended to the broader community by a multiplier effect of this income generated by the spending of this income by local employees and businesses (CDM Smith, 2012). This multiplier effect is an induced impact as it is a result of a supply chain creation within this community. This therefore extends to anyone within the up- or downward supply chain of these business enterprises and the employees thereof. This direct revenue income is a result of increased wages and salaries paid to employees, direct business expenditure, direct profits and revenue resulting from the multiplier effect (Halcrow, 2010). The most easily measurable economic impact of any airport is employment, as an airport provides a variety of different levels of employment opportunities. Employment exists on many different levels to a variety of stakeholders, including direct employment as a result of airport activities measured as 4,100 employees in 2011 (LLA, 2011), indirect employment, induced and related employment (TRB, 2008). The economic impact of increased employment opportunities through LLA extends to a wide-variety of stakeholders at various levels of business enterprise and across all sectors, including on- and off-site employment. The government or State is also a large beneficiary in terms of economic impact of LLA, as it receives income based on the business operations of the airport in the form of business and personal taxes paid (Halcrow, 2010). In addition to business taxes, enterprises are required to pay rates on their properties which provided an income of ?19.8mil in 2010 to the State. Air passenger tax also provides a source of income for the State as Civil Aviation Agency provides different passenger duty costs for different kinds of passengers. In 2010, the State received ?144mil revenue from air passenger tax (Halcrow, 2010). These are direct impacts as they would cease to exist if LLA no longer operated. It is evident therefore that LLA is a major generator of economic activity in the local area, providing significant opportunities for the expansion of current enterprise and the resultant employment and revenue opportunities that this provides, as well as a useful and important source of revenue for the central government. Direct, indirect and induced impacts of LLA are inclusive of a broad range of stakeholders providing important revenue generation and an overall increase in economic activity as a result of their operations. Airport Management Policies LLA is a publicly owned company with Airport Concessions Development Ltd. (ACDL) as the majority shareholder. ACDL owns and operates 47 other airports around the world and have extensive experience in airport management (LLA, 2013). It stands to reason therefore that the experience of managing policies for maximum economic impact implemented at LLA would be an extension of the knowledge and experience gained in the course of business. With rising fuel costs affecting the affordability of travel options, low-cost airlines have become increasingly prevalent with the adoption of a low-cost model whereby airlines negotiate significantly lower aeronautical charges with airports seeking to make up the shortfall in revenue with increased passenger volumes expected from offering lower-airline fees (Frances, et al., 2004). LLA has introduced three major low-cost airlines into their business model, namely easyJet, Ryanair and Wizz Air. You read "Economic Impact of London Luton Airport" in category "Essay examples" Initially the aeronautical charges were given in a format whereby easyJet, as the principle low-cost airline, paid a reduced rate per passenger that came through the airport. However, when Barclays became a shareholder in LLA it was reported that the financial performance of the airport was adversely affected by this negotiation (Ibid). This was then adjusted so that the low-cost airlines qualified for the reduced aeronautical charges, where after the charges are reduced according to the passenger volumes. In addition to the increase in passenger volumes through low-cost airline negotiation, there was a significant shift in management focus to increase the overall income per passenger and between 1995 and 2001, this was achieved through doubling the retail space in the LLA airport terminal (Ibid). This is a realisation by the marketing strategy of LLA that the majority of airport revenues are not generated by aeronautical charges (Castillo-Manzano, 2010). Jarach (2010; p.2) notes that the extent of the economic impact of an airport will be a result of factors such as the type of visitor (business or tourist), the type of scheduled service (international, domestic and long-haul flights), the magnitude and origin of charter operations, the relative isolation of the airport and the availability of other modes of transport. This highlights a shift in perspective of the airport as part of the air transport pipeline, rather than focusing on airlines as the primary customer of the airport, re venue generation is now concentrated on attracting retail customers (Jarach, 2001). Expectations as to the levels of income that can be expected through the support goods and services in the airport allows the airport to make accurate predictions on the income expected for the airport as an operation and to negotiate aeronautical charges based on these predictions (Frances, et al., 2004). As a result of the increased importance of concession revenue (resulting from commercial operations), revenue sharing arrangements are also becoming increasingly popular agreements between airports and airlines, although research indicates that often airports would rather replace the airline than enter into such agreements (Zhang, et al., 2010). The marketing strategy therefore of LLA has been redirected in recent years to ensure that concession revenues are increased, with reports that the reliance on low-cost airlines for the majority of passengers based on a reduced charge has had an adverse effect on the financial outlook of the airport (Frances, et al., 2004). The Financial Report of LLA (2012) for the end of 2011 indicated that the revenue from commercial activities and from aeronautical charges was relatively equal indicating that there is a large reliance on commercial activities to supplement the income of the airport itself (see table below). In addition, there is a continuous assessment and commitment by the management of the airport to improving facilities and providing additional services to the visitors on a consistent basis (LLA, 2011). IncomeYear Ended 31 December 2011 (? ,000)Year Ended 31 December 2010 (?,000) Traffic Income50,10045,742 Commercial Income49,67945,287 Tenant Income12,28311,158 TOTAL112,062102,187 (LLA, 2012) Conclusion From the perspective of airport management therefore, the increase in revenue is the primary concern of commercial activities, with regards to both airline traffic revenue and concession revenue. The economic impact of the operations of the airport is an important priority for management, as privately owned airports, such as LLA are profit driven business enterprises. From the financial statement reflecting the revenue income of the airport, it is evident that there need be an increased emphasis on increasing the concession revenues of the airport. Commercial activities in an airport are essential to the financial success of the enterprise (Torres, et al., 2005) and have the potential to contribute to up to 90% of the total income of the airport ((Zhang Zhang, 1997). Currently, LLA is not maximising the potential of the commercial activities of the airport and therefore it is the recommendation of this report that the retail operations and services available at the airport be upgrad ed to allow for significantly more commercial revenue. This will have the impact of ensuring that the revenue of the airport is increased and that there is a greater direct income from these activities, as well as increased employment opportunities through the various direct, indirect and induced impact that this will have. The government income will also be increased according as there will be higher business and personal taxes payable. Increasing the commercial operation of the airport will also necessitate a strategy to ensure greater traffic volumes in the airport terminal itself which can be achieved through the increased participation with airlines through offering revenue-sharing contracts to ensure that higher volumes of passengers are directed through the terminal rather than other neighbouring airports. References Airports Council International (2004) The economic and social impact of airports in Europe. York Aviation: ACI Europe. Castillo-Manzano, J. (2010) Determinants of commercial revenues at airports: Lessons learned from Spanish regional airports. Tourism Management, 31(6), pp. 788 – 796. CDM Smith (2012) The economic impact of commercial airports in 2010. Ohio: CDM Smith. Francis, G., Humphreys, I. Ison, S. (2004) Airports’ perspectives on the growth of low-cost airlines and the remodeling of the airport–airline relationship. Tourism Management, 25(4), pp. 507 – 514. Graham,A. (2008) Managing Airports (3rd ed.). Oxford: Butterworth-Heinemann. Halcrow (2011) Economic Impact of London Luton Airport. London: Halcrow Jarach, D. (2010) Airport Marketing: Strategies to Cope With the New Millennium Environment. Hampshire: Ashgate Publishing. Jarach, D. (2010) The evolution of airport management practices: towards a multi-point, multi-service, marketing-driven firm. Journal of Air Transport Management, 7(2,) pp. 119 – 125. London Luton (2012) Airport History. [online] Available on: http://www.london-luton.co.uk/en/content/8/226/ [Accessed 28 March 2013]. London Luton Airport Operations Ltd. (2012) Annual Reports and Accounts for the Year Ended 31 December 2011. London: LLA London Luton (2011) Annual Monitoring Report 2011. London: LLA Luton Borough Council Torres, E., Dominguez, J., Valdes, L. Aza, L. (2005) Passenger waiting time in an airport and expenditure carried out in the commercial area. Journal of Air Transport Management, 11, pp. 363–367. Transportation Research Board (2008) Airport Economic Impact Methods and Models. Airport Cooperative Research Program: Synthesis. Zhang, A. Zhang, Y. (1997) Concession revenue and optimal airport pricing. Transportation Research Part E: Logistics and Transportation Review, 33, pp. 287–296. Zhang, A., Fu, X. Yang, H. (2010) Revenue sharing with multiple airlines and airports. Transportation Research Part B: Methodological, 44(8–9), pp. 944 – 959. How to cite Economic Impact of London Luton Airport, Essay examples

Mental Health Nursing Treatments

Question: Discuss about the Mental Health Nursing Treatments. Answer: Introduction: Nursing is a coveted profession dedicated to the provision of quality and optimum healthcare service necessary to maintain health and well being of persons. In general nursing incorporates care giving facilities meant for the individual, family as well as the community and considers a holistic approach for treatments. In the following section discussions will be carried out with respect to the professional attributes and scope of practice relevant to mental health nursing that are distinctive in nature. In order to satisfactorily conduct the professional practice, a thorough understanding and in depth knowledge regarding the existing practices, guidelines, policies and legislations is imperative on the part of the mental health nurses. Promotion of safe nursing practice along with the management of risk in the context of a definite clinical setting is also fostered by means of possession of certain professional skills and competencies by the authorized nurses (Australia Australia, 2 017). Acquisition of relevant skills and reliance on evidence based practice are other prerequisites that evolve through dynamic changes in professional nursing practice. The additional attributes and supportive education in conjunction with proper training normally steer the changes towards the effective and seamless transition of a nursing professional from novice to expert in her practicing domain. Psychiatric nurse education and training are generally provided at the graduate and certificate stages. However nurses having clinical experience as well as nursing bachelors degree are eligible for offering care o the psychiatric patients. Mental health nursing is often synonymously used for psychiatric nursing where the attending professionals are entrusted with the duty of taking care of patients suffering from mental illness or psychological disorders such as depression, bipolar disorder, schizophrenia, dementia, psychosis and others. A nurse needs to be qualified enough and possess specialized skills applicable in the mental health sector to perform their responsibilities efficiently. The job profile is very much demanding compared to the other nursing counterparts involved in working for other field of expertise. The chief motto is to facilitate quicker recovery and encourage utilization of effective management strategies to better cope up with the situation. The interpersonal involvement of a nurse with the client in a given nursing scenario is imperative to get an insight into the issues that are bothering the person and subsequently plan suitable nursing interventions. The concept of psychodynamic nursing is fo und to be beneficial in this regard through adoption of certain theories pertaining to mental health such as Interpersonal theory, Psychoanalytic theory, Theory of Moral Development, Cognitive development Theory and others (Townsend, 2014). The rising concerns regarding mental health disorders have increased the demand for mental health nurses across the globe. Among the recovery initiatives pursued by the nurses, establishment of the therapeutic alliance with the patient to offer holistic solutions for patient care is a pivotal necessity. The issues related to social stigma and its outcomes along with the growing popularity of the usage of the evidence based practices are matters of concern in psychological nursing. Further in the pursuit of psychiatric nursing ensure of safety is considered as an important virtue. Standard objectives of mental health nursing encompass protection and promotion of mental health, prevention of mental disorders, recovery and rehabilitation and treatme nt of mental disorders. Assessment, diagnosis and treatment of human responses and promotion of mental health are carried out by the psychiatric nurses through adoption of psychosocial and neurobiologic theories (Fortinash Worret, 2014). Client handling strategies adopted by the nurses working in the psychiatric setting are more challenging and demanding than other professional interventions. Specific nursing interventions include promotion of clients safety, assisting the client to cope up with stress and emotions along with promotion of clients self esteem. The legal and ethical considerations are to be taken care of by the mental health nurses while engaging in treatment of the psychiatric patients. Personalized treatment modality is a preferred option in case of mental health nursing as the circumstances vary from person to person and depending upon the type of disorder they are suffering from. The mental health illness that are generally treated by the mental health nurses range from trauma or stress related disorders, anxiety and anxiety disorders, obsessive compulsive and related disorders, mood disorders and suicidal tendencies, schizophrenia, personality disorders, addiction, eating disorders, somatic sympto m illness, neurodevelopmental disorders, disruptive behavior disorders to cognitive disorders (Videbeck, 2013). Research has revealed that exhibition of favorable attitudes towards the mental illness afflicted persons by the mental health nursing staff often culminate in better recovery outcomes. Employers behavior along with the workplace culture also impact the mental health nurses responses towards mental health patients. Less stigmatized knowledge as well as prior acquaintance with the mental health problem due to its prevalence among family member or friend offer better scope for the nurses to render quality care services and positive attitude (Mrtensson, Jacobsson Engstrm, 2014). Studies have highlighted on the adoption of a relational perspective to assist the professionals in acknowledging the client as a person in understanding life experiences and in the process of connecting to other people. Thus the challenges related to mental health professionals are to be addressed p roperly to mitigate the adversities encountered in professional practice (dny Eriksen et al., 2014). For the purpose of carrying out the nursing practice effectively, certain guidelines have been laid out by the competent authorities. In this context, the national competency standards for the registered nurses put forward by the Nursing and Midwifery Board of Australia (NMBA) may be mentioned. The compliance with the legislations influencing nursing practice and healthcare, working within a professional and ethical nursing framework in addition to an evidence-based framework, participation in continuous professional development pertinent o self and others, performance of a systematic and comprehensive nursing evaluation are some of the recommended guidelines. Adoption of a collaborative interdisciplinary approach, provision of a safe, effective and evidence based nursing care thorough evaluation of the health outcomes, establishment of therapeutic relationship with the client along with proper co-ordination with the interdisciplinary care team to offer holistic nursing care are othe r competency standards stated (nursingmidwiferyboard.gov.au, 2017). Comparison made with respect to the Australian specialty nurse standards with the registered nurses revealed that the specialty nursing staff possesses certain unique capabilities thereby having greater potential in terms of aiding the registered nurses to translate their national practice standards into the context of specialist practice. The Australian College of Mental Health Nurses proposed nine standards of practice that are in line with the NMBA standards and corroborate to the propositions made in the guidelines (Edmonds, Cashin Heartfield, 2016). In fine it may be said, that for the purpose of offering holistic and effective nursing interventions suitable for a particular person, the mental health nurses must possess distinguished skills and attributes that may help them to better their professional practice. References dny Eriksen, K., Arman, M., Davidson, L., Sundfr, B., Karlsson, B. (2014). Challenges in relating to mental health professionals: Perspectives of persons with severe mental illness.International Journal of Mental Health Nursing,23(2), 110-117. Australia, P. O., Australia, W. (2017). Mental Health Nursing.HEALTH, 24. Edmonds, L., Cashin, A., Heartfield, M. (2016). Comparison of Australian specialty nurse standards with registered nurse standards.International nursing review. Fortinash, K. M., Worret, P. A. H. (2014).Psychiatric mental health nursing. Elsevier Health Sciences. Mrtensson, G., Jacobsson, J. W., Engstrm, M. (2014). Mental health nursing staff's attitudes towards mental illness: an analysis of related factors.Journal of psychiatric and mental health nursing,21(9), 782-788 Nursingmidwiferyboard.gov.au,. (2017). AHPRA - National competency standards for the registered nurse. Nursingmidwiferyboard.gov.au. Retrieved 29 January 2017, from https://www.nursingmidwiferyboard.gov.au/documents/default. Townsend, M. C. (2014).Psychiatric mental health nursing: Concepts of care in evidence-based practice. FA Davis. Videbeck, S. (2013).Psychiatric-mental health nursing. Lippincott Williams Wilkins.

Best ACT Math Practice Tests How to Find and Use Them

Best ACT Math Practice Tests How to Find and Use Them SAT / ACT Prep Online Guides and Tips Whatever your ACT Math prep plan, whether you’re doing self-study, a class, or working with a tutor, you need to be working with real ACT Math practice materials. The ACT Math test will be unlike any other Math test you’ve taken. You need to work with the real material to get used to the pacing and style of this unique test. In this short guide, I’ll let you know where to find free and paid official ACT Math practice tests. Best ACT Math Practice - Free and Official These tests are totally free. We've gathered together all of them in one place for your convenience. ACT Math Free Online Sample Test This test format can be a little clunky to use, but it's convenient and online. Answer all choices on the page. Then, click answer at the bottom to see the answers to the question. Once you’ve checked your answers, you’ll be able to move on to the next page.There are 12 questions per page with five pages for a total of 60 questions (just like the real ACT Math section which has 60 questions). To keep the timing realistic, I recommend that you give yourself 12 minutes per page (which is 1 minute per question) since you get 60 minutes for 60 questions on the actual ACT Math section. Take as much time as you need to check your answers on the given page. Then, move on to the next page and give yourself another 12 minutes. PDFs: ACT Practice Test 2015-2016 (Form 72CPRE):Math Section Pages 24-31, Answers Page 57 ACT Practice Test 2014-15 (Form 67C):Math Section Pages 24-31, Answers Page 56 ACT Practice Test 20-12 (Form 64E):Math Section Pages 26-33, Answers Page 61 ACT Practice Test 2008-09 (Form 61C):Math Section Pages 26-33, Answers Page 61 ACT Practice Test 2005-06 (Form 59F):Math Section Pages 26-33, Answers Page 61 You might notice a few years are missing, and that's because the ACT duplicates the same test in different years. For example, the 2013-14 test is identical to the 2014-15 test. We've included the Form ID with each test so that you can check this for yourself (you can see the Form ID in the bottom left of each page on the test). Best ACT Math Practice - Paid and Official While studying for the ACT Math section, you’ll want more than six official ACT practice tests.I highly recommend The Real ACT 3rd Edition. The book only costs about $20, and it’s got five official Math practice tests. The book is written by the makers of the ACT, so it’s the real deal.Don't both buying Kaplan or Princeton Review for practice tests - their quality is far inferior to the tests put out by the ACT. If you want to get in a couple more practice ACT Math tests, I also recommend the ACT Online Program, though it’s less cost effective at $25 for two extra practice tests.It also includes an online prep program, but it’s not good. If you make the purchase, just do it the practice tests, if you need it. The ACT Math practice possibilities are (near) endless! Other ACT Math Materials In general, I recommend against using any ACT Math practice tests that were not written by the ACT as theywon’t providerealistic practice.You want to use real practice materials so that you ensure you’re taking tests that reflect the actual content and difficulty of the real ACT. If you take practices tests made by other companies, they may be more or less difficult and may not include all of the content on the real ACT.However,unofficial tests can be a great way to practicemath skills if not trying to practiceACT-style questions. ACTMath, more than any other section, is based on knowing the math content, so having plenty of materials to practice the different math skills required is important and bad formatting doesn't matter as much. Check out our massive collection of ACTstudy material for some official and unofficial tests. If you still want more ACT study material, check out our guide to the best ACT prep books. How to Use These ACT Math Practice Tests in Your Prep Even if you purchase all of the real ACT Math practice tests, you will only have 13, and each one of these tests will take you an hour, so you want to make sure you get the most out of each one. Here are my top three tips to best use your ACT Math practice tests: Tip #1:Take Math Practice Tests Under Realistic Conditions Take the math section in one sitting with accurate timing. Use a watch to time the one-hour math section. Sit for the full hour! It’s not that long! You need to sit for the full test so that you get used to the timing and learn to pace yourself. You only get 60 minutes for 60 questions. The questions progress from easy to hard.You’ll need to work on spending less thana minute per question on the first part of the ACT Math section so that you have a little more than a minute per question to answer the harder questions at the end of the Math section. Do not give yourself any extra time.This can allow you to do extra questions and improve your score. We want to use these practice tests as reliable indicators of your real score so stick to the real timing. NOTE: realistic practice means obeying all of the rules of the test. You're only allowed to have your calculator for the math section. You should not have your phone out. You should be using a pencil. Read our full guide to realistic practice. Tip #2: Review Your Mistakes When you finish your Math practice tests, score your Math test.Look at every mistake you made and try to figure out where you went wrong.If you skip this step, you're not going to learn from your mistakes, and you'll continue making them over and over again. I recommend spending at least 30 minutes to an hour reviewing your ACT math test.It may seem like a lot of time, but it’s necessary to take this time so that you learn from your mistakes.It’s better for you to take three ACT Math practice tests with detailed review than six with no review. Think quality over quantity! Tip #3: Supplement With Skill Work There are some students who can see improvement in ACT math by just taking practice tests and familiarizing themselves with the pace and style, but that is rare. The majority ofstudents need to do a more in-depth review of math skillsthat they might have forgotten, never learned, or never quite mastered. If you find you're not improving on your practice tests, I recommend that you look atour individual Math content guides. These articles tacklespecific math subject areas (i.e. Linear Equations, Trigonometry, etc.) that you need to know to succeed on the ACT Math section. When you review your first practice test, figure out the reason you got each math question wrong:was it due to misreading a question? Or not knowing the content?If you didn't know the content necessary tosolve the question, then you need to review that content! Tip #4: Get Additional Help If You Need It! If you’re not improving your score, you should supplement the practice tests with extra prep work, either a tutor, class, book (such as the ones linked to above) or a program.While some students may be able to learn from their mistakes on practice tests, the majority need additional guidance to point out their weaknesses and to help them improve. However, a good prep program should be personalized to your needs, focusing on your area of weakness while not wasting your time covering topics that you’ve already mastered. What’s Next? Now that you know where to find ACT Math practice tests, you might want to take a look at our ACT math guides to help you study any individual ACT math topic from ratios to rotations, points to probabilities;we've got you covered. Stuck on an ACT math problem? Whether you're stuck on a study guide, a practice test, or you're worried about getting stuck on test day, don't sweat it. We'll show you how to figure out when you're really stuck and what to do about it. Need more help with ACT Math? We've compiled the best ACT Math guides into one ultimate ACT math study guide. No more searching for ACT math tips and resources- they're available here. Want to improve your ACT score by 4 points? Check out our best-in-class online ACT prep program. We guarantee your money back if you don't improve your ACT score by 4 points or more. Our program is entirely online, and it customizes what you study to your strengths and weaknesses. If you liked this Math lesson, you'll love our program.Along with more detailed lessons, you'll get thousands ofpractice problems organized by individual skills so you learn most effectively. We'll also give you a step-by-step program to follow so you'll never be confused about what to study next. Check out our 5-day free trial:

Free Essays on Taxes In America

The subject of taxes in America has been a big pill to swallow for many Americans, especially the working class. It is true that many good things come out of certain taxes, but is that the whole story? Do all of our tax dollars go to the right things? Is our government even using our tax dollars for good purposes? I read a book over the summer by Bill O’Reilly, the famous TV correspondent who has his own television show called The O’Reilly Factor. In his book he discussed the heavy topic of America’s taxing system under the Clinton administration. Did you know that our government couldn’t compensate for forty-eight billion dollars? It does not know where it is, so they say, and the politicians will not show us, American citizens who pay the taxes, the record books on how they spend our tax money (O’Reilly 112). Do you, as an American taxpayer, have the right to know how your tax dollars are spent? The government sure doesn’t think so. In the last years of the Clinton administration, 26,000 very special Americans received $8.5 million in food stamps. The reason that these Americans were special is that they were dead at the time the food stamps arrived. During that same period of time, the General Accounting Office estimates that more than $100 billion was erroneously sent to Medicare recipients (O’Reilly 110). Of course it is we the taxpayers who fund all Fletcher 2 this waste. As of January 2001, when President Bush took office, U.S. taxes were at their highest level since World War II, a time of grave national crisis and an unquestionable need for spending for national survival (Robertson 26). I don’t get it. Have you looked at your paycheck lately? Or have you just given up? Perhaps we’re just numb and don’t recognize that America is a functioning â€Å"tax culture.† Almost every action we take in our daily lives, from the necessities to the frivolous, activates a tax consequence. And it’s not just... Free Essays on Taxes In America Free Essays on Taxes In America The subject of taxes in America has been a big pill to swallow for many Americans, especially the working class. It is true that many good things come out of certain taxes, but is that the whole story? Do all of our tax dollars go to the right things? Is our government even using our tax dollars for good purposes? I read a book over the summer by Bill O’Reilly, the famous TV correspondent who has his own television show called The O’Reilly Factor. In his book he discussed the heavy topic of America’s taxing system under the Clinton administration. Did you know that our government couldn’t compensate for forty-eight billion dollars? It does not know where it is, so they say, and the politicians will not show us, American citizens who pay the taxes, the record books on how they spend our tax money (O’Reilly 112). Do you, as an American taxpayer, have the right to know how your tax dollars are spent? The government sure doesn’t think so. In the last years of the Clinton administration, 26,000 very special Americans received $8.5 million in food stamps. The reason that these Americans were special is that they were dead at the time the food stamps arrived. During that same period of time, the General Accounting Office estimates that more than $100 billion was erroneously sent to Medicare recipients (O’Reilly 110). Of course it is we the taxpayers who fund all Fletcher 2 this waste. As of January 2001, when President Bush took office, U.S. taxes were at their highest level since World War II, a time of grave national crisis and an unquestionable need for spending for national survival (Robertson 26). I don’t get it. Have you looked at your paycheck lately? Or have you just given up? Perhaps we’re just numb and don’t recognize that America is a functioning â€Å"tax culture.† Almost every action we take in our daily lives, from the necessities to the frivolous, activates a tax consequence. And it’s not just...

Impact of Data Warehousing and OLAP Models on Management Accounting Dissertation

Impact of Data Warehousing and OLAP Models on Management Accounting - Dissertation Example The questions were categorised into seven sections that cover the aspects of familiarity of the organisation with these tools, historical data for planning the implementation, changes and compatibility of people in various departments, contribution of OLAP to management accountant and other departments. The data collected were analysed in Excel and by SWOT analyses. The strengths, weaknesses, opportunities and threats in implementing OLAP and data warehouses for the organisation and the management accountant have been analysed. It has been identified that the strengths are more and the threats are less. Hence the impact of the OLAP and data warehouses on management accountant is positive and their overall benefits it that the data analysis and reporting is easy and efficient. Table of Contents Chapter 1 - Introduction 1.1. Research scenario 1.2. Identification of research problem 1.3. Main research question and Assumptions 1.4. Aim and Objectives of the Research 1.5. Methodology of r esearch 1.6. Structure of the research Chapter 2 – Literature Review 2.1. The Traditional Accountant 2.2. Challenges faced by The Traditional Accountant 2.3. Transition of role 2.4. The Data Marts 2.5. Introduction to OLAP 2.6. OLAP models 2.6.1. Data analysis in OLAP 2.6.2. OLAP components 2.7. The role of OLAP 2.8. Mapping the BI 2.9. Database Design 2.10. Warehouse Management 2.11. Challenges and implications of BI tools Chapter 3 - Methodology of Research 3.1. Research Methodologies 3.2. Qualitative survey method 3.3. Data collecting instrument 3.4. Sample space and sample size 3.5. Validity, Originality and Limitation of the research Chapter 4 – Data Presentation and Analysis 4.1. Qualitative Data representation 4.1.1. Section I Questions – Data Representation 4.1.2. Section II Questions – Data Representation 4.2. Preliminary data analysis in EXCEL 4.2.1. Analysis of section I questions 4.2.2. Analysis of section II questions 4.2.3. Analysis of secti on III questions 4.2.4. Analysis of section IV questions 4.2.5. Analysis of section V questions 4.2.6. Analysis of section VI questions 4.2.7. Analysis of section VII questions 4.3. SWOT analysis method 4.4. SWOT analysis of research data Chapter 5 – Research Recommendations 5.1. Strengths 5.2. Weaknesses 5.3. Opportunities 5.4. Threats 5.5. Research Recommendations Chapter 6 – Research Conclusion References Appendices Appendix A – Questionnaire Appendix B – Data Collected from First Participant Appendix C – Data Collected from Second Participant List of Figures Fig.2.1. The cube architecture of OLAP system. Fig.2.2. Database segregation in Business Intelligence using OLAP. Fig.4.1. Analysis of first question in section I. Fig.4.2. Analysis of second question in section I. Fig.4.3. Analysis of third question in section I. Fig.4.3. Analysis of third question in section I. Fig.4.5. Analysis of fifth question in section I. Fig.4.6. Analysis of sixth q uestion in section I. Fig.4.7. Analysis of seventh question in section I. Fig.4.8. Analysis of eighth question in section I. Fig.4.9. Analysis of first question in section II. Fig.4.10. Analysis of second question in section II Fig.4.11. Analysis of third question in section II Fig.4.12. Analysis of fourth question in section II Fig.4.13. Analysis of fifth question in section II. Fig.4.14. Analysis of sixt

Economic Development Project (EDP) Research Paper

Economic Development Project (EDP) - Research Paper Example Due to lack of a single definition of economic development that incorporates all its aspects, it is basically defined in terms of its objectives. As a process, it is understood as an influence on growth with the aim of enhancing the community’s economic good (Ezeala-Harrison, 1996) . Development in the economy incorporates three major areas in any community or country namely; policies that the government undertakes to meet the economy objectives which may include inflation control, employment and having sustainable growth. It also includes programs and policies that are put in place to offer services such as building roads, recreational facilities and provision of medical facilities to the disadvantaged groups in the society. It also takes into account policies and programs that are directed towards improving the business community climate through the right efforts of finance, marketing, business retention, technology transfer and real estate development (Nafziger, 2006). Addi tionally, economic development is often associated with a number of measures which include: an increase in real GNP is an important measure as it indicates the growth development of a country and may be achieved through rapid industrialization. Increase in real per capita income is also an important measure of and usually is indicated by improved standards of living in a particular country. A rise in the general well being of citizens in a particular country is also an important measure of economic development. An increase in the well being of people in normally reflected through an increase in production and consumption of goods and services. Other diverse indicators of economic development in a particular economy may include :increase in income from agricultural activities ,increase in per capital consumption of energy ,increased degree of urbanization and population levels and infant mortality that are not too high (Arndt, 2009). Generally, the main goal of economic development i s therefore the improvement of the economic well being of a community through efforts by the government that maximize on job creation and job retention, taxation structures that favor the quality of life and government incentives to support marginalized groups in the society. Additionally, communities differ in terms of their geographic and the political strengths and weakness thus posing a major difference in their economic development. Each country therefore has a different level of economic development policies, level of economic development and the strengths and weaknesses. In this project I will look at the economic development in Eritrea and Guyana which are develpimg economies (Galbraith, 2004). Relevant characteristics It is an Eastern African country which lies on the Red Sea coastline. Eritrea is bordered by Sudan in West, Ethiopia in South and Djibouti on its South East. Eritrea as a country shares maritime borders with Saudi Arabia and Yemen. The Asmara city is found in the North Western side of the Eritrea highlands. Other major cities are Assab, Kerren, Massawa, Afabet, Tessenie, Mendefera , dekemahre and Barentu. Eritrea has a population of six million persons consisting of Tigrinya -55%, Tigre -30% with the remaining being composed of small ethnic groups. Its Afro-Asiatic population is also divided in

Designing Public Policy Essay Example | Topics and Well Written Essays - 2500 words

Designing Public Policy - Essay Example 1 Toward a Gender-Neutral Policy: Protecting the Rights of Men Executive Summary Overview of Problem - Domestic violence rates in the U.K. have remained high despite laws aimed at criminalizing domestic violence and increasing the reporting of violent offenses to the police. Domestic violence is the cause of as much as 25 percent of all reported violent crime (British Crime Survey report, 2007-08). Surveys from the Home Office and a British Crime Survey have revealed that men were the victims in more than 40 percent of domestic violence incidents reported between 2004 and 2009. Yet cultural biases and gender pressures prohibit men from reporting acts of violence against them from women. â€Å"Domestic violence is often seen as a female victim/male perpetrator problem, but the evidence demonstrates that this is a false picture,† said a 2010 report from the charity group Parity. Outline of the Problem Introduction - This paper proceeds from the understanding that domestic violen ce as a whole – and violence against men in particular - represents a far more pervasive problem than is reflected in current government policy. This perspective provides the basis for a discussion of constraints, and of opportunities, to strengthen the rights of male domestic violence victims in the U.K. Recent proposals and subsequent inhibiting factors will be discussed, followed by the presentation of a targeted policy initiative. 2 Context: Summary and Identification of Impacted Group - The intent of this paper is to recommend a program for adopting a more equitable policy stance vis a vis improved victim advocacy for men. The outcome of a more enlightened approach would be heightened awareness of a far more troublesome issue than has generally been understood. As the government moves ahead with a test program intended to better protect domestic violence victims, policy should reflect a more balanced approach to gender –based violence. Otherwise, men will be vulne rable to what may well amount to cursory justice. Cause of the Problem: Impact of Current Conditions - In 2009, the Labour Party announced its intention to give police unprecedented authority in domestic violence situations. Their proposal included Domestic Violence Protection Orders, also known as Go orders, which would require violent offenders to leave their homes immediately for up to two weeks, giving victims a respite during which they could reflect on their situation in safety and determine a course of action. Offenders who violate the terms of a Go order would be in contempt of court, subject to further criminal charges and could be incarcerated. Previously, only offenders placed under arrest could be removed from the premises. A Go order would give police extensive discretionary power to act on behalf of a victim believed to be in imminent danger. Despite its non-gender-specific language, the scheme has been criticized for giving police too much leeway to act based on confl icting information and 3 possibly spurious claims made at the scene of the crime. This is troubling in light of the fact that police, in general, have too little training to accurately assess and react to often confusing circumstances surrounding a domestic violence event. Men continue to be responsible for domestic violence incidents by a considerable amount, however, the 2009 study revealed that violence against men rose considerably between 2004 and 2008. Nearly 3,000

Overview of Insider Trading

Overview of Insider Trading Insider trading is the trading of a corporation’s stock or other securities (e.g. stock options or bonds) by individuals related to the company with potential access to non-public information about the company which is not disclosed to general public generally. In most countries trading by corporate insiders such as directors officers key employees and large shareholders may be legal, if this trading is done in a way that does not take advantage of non-public information which ultimately harm the investors confidence. However insider trading to refer to a practice in which an insider or a related party generally member of the company trades based on material non-public information obtained during the performance of the insider’s duties at the corporation, or otherwise in breach of a fiduciary or other relationship of trust and confidence or where the non-public information was misappropriated from the company. The illegal kind of Insider Trading is the trading in a secu rity (selling or buying a stock) based on material information that is not available to the general public. It is prohibited by the US Securities and Exchange Commission (SEC) because it is unfair and would destroy securities markets by destroying investor confidence. DEFINITION OF â€Å"INSIDER† Insider means any person who is or was connected with the company or is deemed to have been connected with the company and is reasonably expected to have access, by virtue of such connection, to unpublished price sensitive information in respect of securities of the company , or who has received or has had access to such unpublished price sensitive information. Unpublished price sensitive information means any information which relates to the following matter or is of concern , directly or indirectly , to a company, and is not generally known or published by such company for general information , but which is published or known , is likely to materially affect the price of securities of that company in the market. The following unpublished information can be considered as price sensitive: 1) Financial results of the company 2) Intended declaration of dividend 3) Issue of hares by way of public rights, bonus, etc 4) Any major expansion plans or execution of new projects 5) Amalgamation , mergers and takeovers 6) Disposal of the whole or substantially the whole of the undertaking 7) Such other information as may affect the earning of the company 8) Any changes in policies , plans or operations of the company Connected persons include the following 1) Director of the company 2) Person deemed to be director of the company 3) Person occupying the position as an officer or an employees of the company 4) Person holding a position involving a professional or business relationship between himself and the company and who may reasonably be expected to have an access to unpublished price sensitive information relating to that company Therefore a company insider is someone who has access to the important information about a company that affects its stock price or might influence investors decisions. This is called material information. A public company, if it is smart, limits the number of people who have access to material information and, therefore, are considered insiders. This is done for a couple of reasons. First, they want to limit the likelihood that anyone will â€Å"leak† the information. Second, being an insider means being subject to severe limits on when you can trade in the company stock, usually only the middle month of each quarter. The company’s senior management are insiders. So are some of the financial analysts. The top sales people usually also are insiders, although a regional sales manager who only sees his or her own region’s results may not be one. The individuals in Investor Relations and/or Public Relations who prepare the public announcements also are insiders. If t he company is developing a new product that could be a big seller, the key people in the Research Development team would also be considered insiders, provided the information they have is material. Other individuals who are not employees, but with whom the company needs to share material information, are also insiders. This list could include brokers, bankers, lawyers, etc. WHY INSIDER TRADING Insider trading may be attempted to 1) Benefit the company through unethical purchase and sale of the companys shares by withholding price sensitive information , and 2) Benefit the individuals indulging in this unethical practice CATEGORIES OF INSIDERS These are persons connected with the company having access to price sensitive information. Broadly then can be a) Primary insider e.g. directors, stock exchange, merchant bankers, registrars, brokers of the company, top executives, auditors, bank etc b) Secondary insider i.e dealer, agents and other employes etc c) Others having acess to price sensitive information due to their proximity with the company WHY CONTROL INSIDER TRADING Basic objective of controlling insider trading is to protect investors . other related objective are protecting the interest and reputation of the company, maintaining confidence in stock exchange operations, maintaining public confidence in the financial system as a whole. SIGNIFICANT PENALITIES Sections 10(b) and 14(e) of the Securities Exchange Act of 1934 give the SEC the authority to seek a court order requiring violators to give back their trading profits. The SEC can also ask the court to impose a penalty of up to three times the profit the violators realized from their insider trading. In addition to the financial penalties, there are criminal penalties. Many now feel those penalties are not strong enough and are working to increase them substantially. A bill in the US Senate, for instance, seeks to make defrauding shareholders a felony punishable by up to 10 years in prison.A penalty up to Rs 5 lakh can be imposed on an insider who indulge in dealing, communicating or counseling on matters relating to insider trading. PROHIBITION ON DEALING, COMMUNICATING OR COUNSELLING ON MATTERS RELATING TO INSIDER TRADING It has been laid down that no insider shall 1) Either on his own behalf or on behalf of nay other person, deal in securities of a company listed on any stock exchange on the basis of any unpublished price sensitive information; or 2) Communicate any unpublished price sensitive information to any person, with or without his request for such information, expect as required in the ordinary course of business or under any law; or 3) Counsel or procure any other person to deal in securities of any company on the basis of unpublished price sensitive information. INVESTIGATION INTO THE AFFAIR OF INSIDERS In case SEBI, on the basis of written information in its possession, is of the opinion that it is necessary to investigate and inspect the books of accounts, other records and documents of an insider, it may appoint an investigating authority a) To investigate into the complaints received from investors, intermediaries or any other person on any matter having a bearing on the allegations of insider trading; and b) To investigate knowledge or information in its possession to protect the interest of investors in securities against breach of these regulations SECURITY ANALYSIS AND INSIDER TRADING The analysts of security gather and compile information and they talk to corporate officers and other insiders and issue recommendations to traders. Thus their activities might easily cross legal lines if they are not careful about it . The CFA Institute has quoted in its code of ethics that analysts should make every effort to make all reports available to all the broker’s clients on a timely basis. Analysts should never report material nonpublic information, except in an effort to make that information available to the general public. Moreover analysts’ reports may contain a variety of information that is collected without violating insider trading laws. EFFECTS OF INSIDER TRADING THE EFFECT OF STOCK MARKET INSIDER TRADING A distinction has to be made between trading by insiders and trading by insiders on the basis of nonpublic information. As Insiders are legally allowed to buy and sell stocks. The Securities and Exchange Commission (SEC) requires insiders to disclose their trades, and the financial newspapers report such trading. Investors find this information a source of valuable clues about companies. Insider trading puts a bad effect on stock market as people who earlier are willing to invest will now hesitate to invest as they will fear about the market fluctuation as market becomes more risky so as a result they would prefer not to invest. MARKET AND PRICES Stock prices too are generated by supply and demand. But supply and demand for stocks are not disembodied concepts. They are generated, obviously enough, by suppliers and demanders people with preferences, objectives, expectations, knowledge, and, therefore, plans. Part of what goes into an intention to buy or sell shares in a company is expectations about its future based on knowledge about its management, organization, and so on. These expectations are incorporated into the share price, and changes in expectations bring about changes in price. The more knowledgeable the participants, the more fully do prices perform their communications work. Nothing would undermine confidence in markets more than the belief that prices are out of date. CIVIL PENALITIES FOR INSIDER TRADING A. AUTHORITY TON IMPOSE CIVIL PENALITIES 1. JUDIIAL ACTIONS BY COMMISSION AUTHORIZED According to judicial actions by commission authority whenever it will come to the notice of commission that any person has violated any provision and regulations there under by purchasing or selling a security or security-based swap agreement while in possession of material, nonpublic information in, or has violated any such provision by communicating such information through the facilities of a national securities exchange through a broker or dealer, and which is not part of a public offering by an issuer of securities. A. This section bring an action in a United States court to seek and the court shall impose a civil penalty to be paid by a person who directly or indirectly controlled the person who committed such violation. B. may bring an action in a United States court to seek and the court shall have jurisdiction to impose a civil penalty to be paid by the person who committed such violation 2. AMOUNT OF PENALTY FOR PERSON WHO COMMITS VIOLATION The amount of the penalty which might be imposed on person who commits such violation shall be evaluated by the court in accordance of the facts and circumstances and will not exceed three times the profit gained or loss incurred as a result of such unlawful sale, purchase or communication. B. AMOUNT OF PENALTY FOR CONTROLLING PERSON The amount of penalty which might be imposed on the person who directly or indirectly control the person who commits such violation will be evaluated by the court in accordance of the facts and circumstances and will not exceed three times the amount of the profit gained or loss incurred as a result of such controlled person’s violation. C. LIMITATION ON LIABILITY 1. LIABILITY OF CONTROLLING PERSONS No controlling person shall be subject to a penalty under section (a)(1)(B) unless the Commission finds that. A. the controlling person knew the fact that such controlled person was likely to engage in the act constituting the violation and failed to take required steps to prevent such act before they occurred. B. such controlling person knowingly or unknowingly failed to establish or maintain any procedure required under the act of the Investment Advisers Act of 1940 and such failure substantially lead to the occurrence of the act constituting the violation. 2. ADDITIONAL RESTRICTIONS ON LIABILITY No person shall be subject to penalty under subsection (a) of section solely by reason of employing another person who is subject to penalty under subsection unless such employing person is liable as controlling person (1) of this subsection. shall not apply to actions subsection (a) of this section. D. AUTHORITY OF COMMISSION The Commission by such rules regulations as it considers necessary in the public interest and primarily for the protection of investors may exempt in whole or some part unconditionally or for specific terms and conditions, any person from this section. E. PROCEDURE FOR COLLECTION 1. PAYMENT OF PENALTY TO TREASURY A penalty imposed under this section shall be payable into the Treasury of the United States except as otherwise provided in section 308 2. Collection of penalties A person on whom such penalty is imposed shall fail to pay such penalty within the time prescribed in the court’s order then the Commission may refer the matter to the major Attorney General who will recover such penalty by action in the appropriate court. 3. REMEDY NOT EXCLUSIVE The actions authorized by section might be brought in addition to some other actions that the Commission are entitled to bring. 4. JURISDICTION AND VENUE For purposes of section 27 under this section shall be actions to enforce a liability or might be a duty created by this title. 5. STATUTE OF LIMITATIONS No action will be included under this section for more than 5 years after the date of the sale or purchase. This section shall not be construed to bar limit in any manner action by the Commission or under any other provision of this title nor shall it in any manner any action to recover penalties, or to seek any other order regarding penalties, imposed in any action commenced between 5 years of such transaction. F. Authority to award bounties to informants Notwithstanding the provisions of this section there shall be paid from amounts imposed as a penalty under this section and recovered by the Commission or the Attorney General and not to exceed 10 percent of such amounts as the Commission deems appropriate to the person who provide information leading to the imposition of such penalty.Any determinations under this section including in what amount to make payments shall be in the solely decided of the Commission except that no such payment shall be made to any member or officer or employee of any appropriate regulatory agency. ARTICLES Insider Trading by David D. Haddock Since the depths of the Great Depression the Securities and Exchange Commission has always tried to prevent insider trading to become that common in U.S. securities markets. Insiders that can be a firm’s principal owners or directors, and management as well as its lawyers accountants that routinely possess information that is unavailable to the general public. This is Because some of that information can affect the prices of firm’s securities as soon as it becomes public and because of this insiders can profit by buying or selling in advance. Even before the thirties insiders were held liable under the common law if they fraudulently or intentionally misled traders who were uninformed into accepting inappropriate prices. But the Securities Exchange Act of 1934 also forbid insiders from even profiting from superior information. One of the most famous instances of insider trading was of Charles F. Fogarty’s who purchased Texas Gulf Sulphur shares during 1963-1964. Fogarty, who was an executive vice president of Texas Gulf already knew that the company had discovered a rich mineral lode in Ontario and that it will not be publicize before concluding leases for mineral rights. So In the meantime Fogarty decided to purchase 3,100 Texas Gulf shares and earned $125,000 -150,000. The basic argument that is against insider trading is that the insiders should not be permitted or allowed to earn such profits at the expense of uninformed traders. Yet in all other markets where information is important for insider trading is well established and very widely accepted. For example to explain it quite well mineral leases are normally and routinely bought by those better able as Texas Gulf Sulphur’s behavior exemplified than the sellers to evaluate a site’s potential and the Cattle buyers rely on superior estimates of what packers will pay when they will negotiate. And so it goes in markets for art or for real estate or for professional athletes who are indeed in practically every market with substantial variations in the prices. In all those markets a few buyers routinely profit from knowledge that most sellers do not possess, and a few sellers profit from knowledge that most buyers do not possess. One reason frequently cited by policymakers and commentators is that insider trading undermines public confidence in the securities markets.If people fear that insiders will regularly profit at their expense, they will not be as willing to invest and frequent opportunities to trade at observable prices. Efficient securities market it is argued a require a to avoid frightening away speculators who wish to contribute to securities market liquidity and those investors who could invest their savings in markets and with less risk of insider predation. Related to this argument is very important thing that is the harm that insider trading can cause to the specialists. A specialist is the one who the stock exchange appoints to ensure that a any buyer of a particular security that is listed by the exchange can find a seller. These specialists must sell or buy to any trader whose order cannot be discharged against any other orders arriving side by side. For example if a buyer wants a hundred shares of IBM but no one wants to sell at that point of moment then the IBM specialist will sells from his inventory of IBM stock. The specialist charges a bid-ask spread to cover that cost. A bid-ask spread implies that a bit higher price is asked from someone who wishes to purchase a security than will be offered to someone who wishes to sell. An inside trader can however can sell securities to the that specialist who is the one when only he knows that the securities will soon be worth less and will be of no use. After the price had fallen the insider is very well free to repurchase the securities again from that specialist for the lower price than the intrinsic value. If it happens the specialist bears loss. If insider trading reoccurs then the security’s specialist cannot continue without recouping the funds that have been lost to informed traders. If in insider trading increased the spread and it would decrease a security’s attractiveness relative to certificates of deposit and government bonds and other assets. Raising new capital would definitely will be more costly for a firm whose securities are subjected to repeated insider trading. Therefore everything being equal insider trading makes it harder for a firm to raise money when opportunities to undertake new projects arise. Of course insiders can also profit by borrowing and selling securities when the price is apt to fall. Some argue that insider trading more likely to harm companies because damage is easier to inflict. That argument turn has been countered major actions by a company require teams not individuals. A number of financial economists and law professors take the position that insider trading ought to be legal. They put their case on the basic proposition that insider trading makes the stock market more efficient. the insider will have no incentive to trade on the information .If insider trading was legal insiders will bid the prices of stocks up or down in advance of the information being released. The result is that the price would more reflect all information both public and confidential about a company at any given time. Besides specialists the other group systematically injured by insider trading are price-function traders those who trade securities because they believe the present price is inappropriate. If an insider secretly buys securities the result is increase in price. some price function traders believe that security is now overpriced they sell but soon regret their action. Few people have the expertise to realize trading profits repeatedly. CASES SIX PEOPLE CHARGES IN INDISER TRADING CASE BILLIONAIRE RAJ RAJARATNAM, FIVE OTHERS CHARGED IN CASE updated 7:40 p.m. ET Oct. 16, 2009 One of America’s wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider trading case that authorities say generated more than $25 million in illegal profits and was a wake-up call for Wall Street. Raj Rajaratnam, a portfolio manager for Galleon Group, a hedge fund with up to $7 billion in assets under management, was accused of conspiring with others to use insider information to trade securities in several publicly traded companies, including Google Inc. U.S. Attorney Preet Bharara told a news conference it was the largest hedge fund case ever prosecuted and marked the first use of court-authorized wiretaps to capture conversations by suspects in an insider trading case. He said the case should cause financial professionals considering insider trades in the future to wonder whether law enforcement is listening. Joseph Demarest Jr the head of the New York FBI office, said it was clear that â€Å"the 20 million dollars in illicit profits come at the expense of the average public investor. The Securities and Exchange Commission, which brought separate civil charges, said the scheme generated more than $25 million in illegal profits. Robert Khuzami, director of enforcement at the SEC said the charges show Rajaratnam’s secret of success was not genius trading strategies. Galleon Group LLP said in a statement it was shocked to learn of Rajaratnam’s arrest at his apartment. We had no knowledge of the investigation before it was made public and we intend to cooperate fully with the relevant authorities. Rajaratnam, 52, was ranked No. 559 by Forbes magazine this year among the world’s wealthiest billionaires, with a $1.3 billion net worth. According to the Federal Election Commission. he is a generous contributor to Democratic candidates and causes. The FEC said he made over $87,000 in contributions to President Barack Obama’s campaign, the Democratic National Committee and various campaigns on behalf of Hillary Rodham Clinton, U.S. Sen. Charles Schumer and New Jersey U.S. Sen. Robert Menendez in the past five years. The Center for Responsive Politics, a watchdog group, said he has given a total of $118,000 since 2004 all but one contribution, for $5,000, to Democrats. The Associated Press has learned that even before his arrest, Rajaratnam was under scrutiny for helping bankroll Sri Lankan militants notorious for suicide bombings. Papers filed in U.S.District Court in Brooklyn allege that Rajaratnam worked closely with a phony charity that channeled funds to the Tamil Tiger terrorist organization. Those papers refer to him only as Individual B. But U.S. law enforcement and government officials familiar with the case have confirmed that the individual is Rajaratnam. At an initial court appearance in U.S. District Court in Manhattan, Assistant U.S. Attorney Josh Klein sought detention for Rajaratnam, saying there was â€Å"a grave concern about flight risk† given Rajaratnam’s wealth and his frequent travels around the world. His lawyer, Jim Walden, called his client a â€Å"citizen of the world,† who has made more than $20 million in charitable donations in the last five years and had risen from humble beginnings in the finance profession to oversee hedge funds responsible for nearly $8 billion. Walden promised â€Å"there’s a lot more to this case† and his client was ready to prepare for it from home. Rajaratnam lives in a $10 million condominium with his wife of 20 years, their three children and two elderly parents. Walden noted that many of his employees were in court ready to sign a bail package on his behalf. NOMURA CAUGHT IN INSIDER TRADING SCANDAL By Emi Emoto and Aiko Hayashi TOKYO Nomura Holdings, Japan’s largest brokerage house, said on Tuesday that it had fired an employee at the centre of an insider trading ring and warned the fallout could harm its business. The insider trading scandal, the broker’s second in five years, comes on top of falling profits and $1.4 billion in subprime losses, after which the firm replaced its CEO. Recently appointed CEO Kenichi Watanabe bowed in apology for the scandal, which drew harsh comments from government officials and sent the firm’s share price down 3.9 percent. It also led to a drop-off in business at the firm on Tuesday as some institutional investors stopped placing orders due to compliance concerns, a source on the Nomura trading floor said. Watanabe said the employee at the centre of the probe had been dismissed for violating company rules and warned the case would have an unspecified impact on earnings. It was significant that we were involved in something that hurt the brokerage industry he said, adding he saw the case as an individual matter, rather than a sign of wider problems at his firm. The employee at the centre of the scandal worked in the MA advisory department where he repeatedly used insider information about merger and acquisition deals, a source with direct knowledge of the matter said. The 30-year old, from Nomura’s Hong Kong unit, was suspected of giving information on merger deals to two acquaintances who then profited on stock trades, Kyodo News agency said. N.J MAN ADMITS INSIDER TRADING By Carrie Johnson Washington Post Staff Writer Thursday, June 17, 2004; Page E03 In this case a new jersey insurance broker committed that he is guilty to insider trading using that information that he had received from the husband of a secretary who took care of mergers and acquisition at a new York law firm. Ronald A. Manzo, 60, also lied to regulators at the Securities and Exchange Commission who were investigating purchases of seven stocks in 1998 and 1999, federal prosecutors in New York said.He earned more than $980,000 through the scheme, they said. Manzo could be sentenced to 40 years in prison and be fined millions of dollars. Prosecutors unsealed a related guilty plea by Fiore J. Gallucci, who allegedly passed information about pending deals from his wife, an assistant at Skadden, Arps, Slate, Meagher Flom LLP, to Manzo to curry favor with him. Gallucci, 62, received some money from Manzo but did not trade in the stocks himself. His wife, who no longer works at Skadden. did not know he was improperly sharing the information and was not charged with breaking the law. Separately, the SEC sued Gallucci, Manzo and Gary B. Taffet, a former chief of staff to New Jersey Gov. James E. McGreevey (D), for insider trades that resulted in $3 million in profit. The SEC said that Manzo tipped off Taffet using the information he had acquired from Gallucci. Gallucci and Manzo are in negotiations to settle the civil charges but Taffet, who was not charged with a crime, is fighting the allegations. â€Å"We are disturbed at the SEC’s decision to bring charges against Mr. Taffet, whose stock trading was not based on illegally obtained information.The reality is that Mr. Taffet did not know or deal with any insider at the companies he traded, nor did he knowingly disclose nonpublic information to any third party. Managers at Skadden, one of the most prominent dealmaking law firms in the world, said they cooperated with the investigation. Regulators said the practice of insider traders using information gathered from law firm employees is not uncommon. The crux of this case is that people who are in possession of material nonpublic information for legitimate reasons need to carefully consider to whom they can entrust this information.

The doom of apple :: essays research papers

The Ethics of War   Ã‚  Ã‚  Ã‚  Ã‚  Unrestricted submarine warfare is often considered a shady practice in a time of war. Unrestricted submarine warfare is when one country sets up an area that is declared a war-zone, any ships that enter this zone, military or civilian, will be fired upon without warning. Is this right? In my essay, I will weigh the pros and cons of this tactic used by the German’s in WWI.   Ã‚  Ã‚  Ã‚  Ã‚  The practice of unrestricted warfare cost the lives of many innocent people. No warning is given so there is no chance to surrender or abandon ship! And foremost, unrestricted submarine warfare violates the so-called rules of war. In the case of the Lucitania, it was believed to be carrying supplies (this was true) and the ship could have later become a threat to Germany if converted into a war or transport ship. But, at the time, the ship or its 2000 passengers were not a threat to U-20, yet the Lucitiana was sunk without warning and with massive losses.   Ã‚  Ã‚  Ã‚  Ã‚  Unrestricted submarine warfare is a very shady, but effective tactic, nonetheless. When implemented, little to no supplies reach your enemies, this gives a tactical strangle hold on a war. Why is no warring given on civilian ships? To a U-boat stealth and surprise are its only defenses. Once a U-boat reveals itself, it is open to ramming and attack thus endangering the crew. In most cases, keeping your troops safe comes above keeping the enemies safe. Why would someone need to attack a civilian ship anyway? Because they may be carrying supplies. To say unrestricted submarine warfare violates the â€Å"rules† of war then why is the opposition violating the â€Å"rules† by putting troops and supplies on a civilian ship making it a target of submarines? Using the lives of innocent people as a shield to protect supplies is just as bad as firing on an unarmed ship without warning.   Ã‚  Ã‚  Ã‚  Ã‚  Is unrestricted submarine warfare right? In my opinion a submarine must give civilian ships a chance to abandon ship. A submarine does not need to expose itself to send a warning, send a radio ultimatum, and then a warning shot. How much of a treat could a passenger ship pose anyway?

Prejudice Worksheet

Please complete the following exercises, remembering that you are in an academic setting and should remain unbiased, considerate, and professional when completing this worksheet. Part I Select three of the identity categories below and name or describe at least 3 related stereotypes for each: †¢ Race †¢ Ethnicity †¢ Religion †¢ Gender †¢ Sexual orientation †¢ Age †¢ Disability |Category |Stereotype 1 |Stereotype 2 |Stereotype 3 | |Race | People say black people are lazy. |People say white people are smart |People say Jews are cheap but | | | |and blonds are dumb. rich. | |Religion |Wiccan Pentacle Study, worship the|Gothic people are very weird and |Muslims are terrorist and women | | |devil. |violent. |are beneath them. | |Sexual Orientation |When someone see a feminine man |When someone sees masculine women |People say homosexuality is wrong | | |and call him gay. |she is a lesbian. |and immoral. | Part II Answer each question in 50 to 100 words r elated to those stereotypes. Provide citations for all the sources you use. What are the positive aspects of stereotypes, if any?The aspects of positive stereotypes can be positive if a person know the difference and have the knowledge to understand what a person may be stating. If we prefer to someone as a â€Å"jock† we are acknowledging that this person is into sports. A person that is known to be preferred to by â€Å"Gothic† or â€Å"Punk† is because of the type of music they listen to and the type of clothing they wear. Usually no one is offended by this because it is factual and evident and these are positive aspects of stereotypes. What are the negative aspects of stereotypes?The negative aspects of stereotypes are the lack of understanding, the ignorance, and the labeling of someone to hurt their feelings as an individual or a group of people. A person may see a female with a short hair cut like a man and call them a dike without getting to know who tha t person is and assuming that this is what they are. Part III Answer each question in 50 to 150 words related to those stereotypes. Provide citations for all the sources you use. Define stereotypes and prejudice. What is the difference between stereotyping and prejudice?Use examples to illustrate the differences. Stereotype is something conforming to a fixed or general pattern, a standardized mental picture that is held in common by members of a group and that represents an oversimplified opinions, prejudiced attitude, or uncritical judgment. Prejudice is prejudgment and negative attitude based on sex, race, age, sexual orientation, nationality, socioeconomic status, and religion towards an individual or group of people. The difference between stereotype and prejudice is that stereotype is standardized beliefs about people based on some prior assumptions.Prejudice is a type of judgment or assumption about somebody before having sufficient knowledge to judge with accuracy. Example of stereotype is all policemen eat donuts. Example of prejudice is an organization that hires more males and reject females are known to be prejudice. What is the relationship between stereotyping and prejudice? The relationship between stereotyping and prejudice is that stereotyping promotes prejudice and that prejudice reduction depends on stereotype change.Prejudice also influences the extent of stereotyping. The important theoretical tradition posits that this effect emerges because prejudice encourages the use of stereotypes as a means to justify societal inequality (e. g. , Allport, 1954; Katz & Braly, 1933; Lippmann, 1922). What can be done to prevent prejudice from occurring? Intolerance stems from ignorance and arrogance this go hand in hand and people need to understand and have the knowledge not to pre-judge people.In order to prevent prejudice from occurring we need to begin now with the way we are raising our children and teach them not to be judgmental and preconceive pe ople before we get to know someone. Teach them not to assume to not like someone because of the color of their skin or where they come from. People are people no matter what they may look like, getting to know a person is very important and not to judge a book by its cover. Have rallies of all race and culture so people can have a better understanding of others. It starts at home teach your children a better way so that they will understand life in a better perspective.

Account for the political stability of the Weimar between 1924-29 Essay Example

Account for the political stability of the Weimar between 1924 Account for the political stability of the Weimar between 1924-29 Essay Account for the political stability of the Weimar between 1924-29 Essay In answering this question I propose to examine the key areas of leadership, the economy, then see how this affected politics and follow this up by looking at foreign relations. 1924 saw the emergence of two figures in key posts that were to contribute to Weimar stability between these years: Stresemann and Hindenburg. Both had militarist and nationalist backgrounds but similarly both were intelligent enough to realise that co-operation and discourse were preferable to civil war and economic suffering. Stresemann masterminded Germanys period of diplomatic tension and isolation whilst Hindenburg offered a presidency that was balanced and tactfully administered. Both men were acceptable as leaders to the majority of German people for the time being. These men seemed acceptable to the allies whose goodwill was of paramount importance for German to recover between 24-29. Economically, the country re-gained some stability immediately when H. Luther changed the Mark over to the Rentenmark in 24. This was achieved without gold reserves but industry and agriculture offered some security and this was accepted as international currency. Unemployment began to subside and industrial output returned to levels not seen since 1913. Trading agreements (such as the Rappallo with the USSR) offered further investment opportunities abroad. A full return to the gold standard was enabled by the Dawes Plan (loans were also provided) and it also gave the economy breathing space as reparations were scaled down to fit in with economic output. Politically, this was a quieter time for the Weimar. Why? Simply because the republic seemed to be gaining success. Middle ground parties dominated the Reichstag and the three main nationalist parties (DNVP, NSDAP and KPD) only received 30% of votes cast in the 1927? election. The D. N. V. P was traditionally supported by industrialists, but given the economic upturn most were quite happy to allow the republic run freely. A referendum called for by the NSDAP and others to pillory the government for treason only received 14% of votes cast in favour. 1924 also saw Germany move away from the policy of obstruction and non-co-operation that had dogged the republics early years. Beginning with J. Wirth, a co-operative policy of fulfilment or Erfsfullpolitick was pursued. Stresemann continued this policy with three aims in mind: to modify Versailles; to end German diplomatic isolation and finally to restore sovereignty. By 1931, all three had been more or less achieved. The expressions of the Erfsfullpolitick were a series of pacts and treaties that bore foreign success. As mentioned above, the Rappallo Pact gave the economy a nudge but may also have nudged the allies into a desire to involve Germany more in world affairs in preference to Soviet dominance. The Dawes plan was the first expression and the Young Plan further supported this in 29 (both scaled down reparations). The Locarno Pact ratified Germanys western borders whilst still allowing her to pursue claims in the east. A return to League of Nations membership in 26? Saw the French foreign minister Briand, welcome Stresemann as an equal. The reparations were legally curtailed in 31 after Brunigs application for a Moratorium to the U. S. In conclusion, Weimar political stability between 24-29 can be explained by a combination of inspired leadership, supported by foreign goodwill and input which in turn promoted economic buoyancy which led to political calm.

Swot on Mcdonalds Essay Example

Swot on Mcdonalds Essay Example Swot on Mcdonalds Paper Swot on Mcdonalds Paper EXECUTIVE SUMMARY McDonald’s India was incorporated as a wholly owned subsidiary – McDonalds India Pvt Ltd (MIPL) in 1993. In April 1995, the wholly owned subsidiary entered into two 50:50 joint ventures. The first with Connaught Plaza Restaurants (Mr Vikram Bakshi) to own and operate the Delhi restaurants, and Hardcastle Restaurants (Mr Amit Jatia) to own and operate the Mumbai outlets. This marked the beginning of an incredible era in the international McDonalds timeline. It was the beginning of remarkable growth, lengthy product adaptations, and the entry into a market that was so culturally diverse many saw the venture as unrealistic and essentially a waste of time. This report entails the lengths at which McDonalds had to adapt and connect with the local populations. A brief history is supplied about the company and the nation in question. An analysis of the strengths, weakness, opportunities, and threats is provided and an insight into the most important of all external and internal factors. Major cultural issues and distinctive sociological features are presented throughout the report, along with an insight into McDonalds India’s continual growth. TABLE OF CONTENTS 1. 0Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4-5 2. 0SWOT analysis 2. 1Strengths†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 2. 2Weaknesses†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 2. 3Opportunities†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 2. 4Threats†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 2. 5SWOT findings†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦.. 7-8 3. 0Cultural fit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 9 4. 0Cultural issues†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. . 9-10 5. 0Progression and Structure†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 10 6. 0Strategies and Success†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 11 7. 0References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 12 1. 0 INTRODUCTION McDonalds for many years has been the leader in global fast food, franchised outlets. It has set the standard, for quick, reliable and consistent food, worldwide. The company has rapidly expanded and continues to do so. Opening more stores than any other fast food chain over the past 40 years. McDonalds had entered the Asian market in 1971, beginning with Japan. It had continued to enter various other countries and regions of Asia for the following 35 years. Year of OpeningCountryRestaurants in 1997Restaurants in 2002 1971Japan24373891 1975Hong Kong140216 1979Singapore105130 1980Philippines157236 1981Malaysia110149 1984Taiwan233350 1985Thailand61100 1988South Korea114357 1991Indonesia103105 1992China ( Beijing)184546 1996India946 1998Pakistan020 1998Sri Lanka02 Source: McDonalds Corporation 2002 Annual Report. India was always considered a sleeping giant to many western multinationals. It had continued to expand and slowly open its markets, and doors to trade from western nations. India’s population soared through the 1960’s to 1990’s, yet was still an incredibly difficult market to enter, primarily for cultural reasons. source: BBC News, India’s Population India is possibly the most diversified nation on the face of the planet. It is home to more that 1. 18 billion people, 17. 31% of the worlds population. India is home to more than two thousand ethnic groups, and every major religion is represented. McDonald’s first entered the India market in October 1996, since then it has opened a following 168 stores, however there proved many difficult times and obstacles that impended the smooth run of fast food chain. . 0 SWOT ANLYSIS 2. 1 Strengths McDonalds’ sheer size is it biggest strength that creates so many opportunities for the brands alone. In 2003 it operated more than 31,000 restaurants and served than more than 46 million people daily in 118 countries. That same year McDonalds had attained US$41. 5 billion in sales , another point of strength. McDonalds also managed to show US$2. 1 billion in operating profits, and had US$24 billion worth of assets. These figures indicated the magnitude of strength the company holds, all of which would assist McDonalds venture into the great sub-continent. McDonalds has always maintained a competitive advantage over many competitors due to their ability to adapt to changes in the environment and movement in consumer circumstances. 2. 2 Weaknesses The late entry of McDonalds into India can be attributed to many things, particularly the level of research and time that went into determining the critical success factors for the market. Along the way various weaknesses were encountered in the potential market. A significant percentage of the population was vegetarian, which impacted heavily on the menu that was found in neighboring Asian nations. The limited purchasing power of the nation was enhanced due to the closed nature of the economy. Weaknesses in the current set-up of McDonalds were brought to the surface through the social diversity of the nation. There were more than 20 major spoken languages and over 200 different dialects. The Indian currency had its denomination spelt out not only in English and Hindi (the national language), but also in 13 other languages. Approximately 50% of the population was considered to be illiterate, which had negative impacts on marketing and advertising campaigns, which would soon be lead by McDonalds India. 2. 3 Opportunities What drew so many multinational corporations to India? Incidentally it was the various opportunities that were seen there. It was considered a gold mine for large western organizations. Since the Indian Government began deregulating the economy and opened up its doors to international competition in 1991, a swarm of multinationals had entered. Indian was a vast subcontinent with an area four times smaller than the US and a population four times larger. It was ranked as the fifth largest economy in the world, after adjusting for purchasing power parity, India’s economy exhibited a per capita GDP (2002) of US$2540 and aggregate GDP of US$2. 6 trillion. The â€Å"eating out† market was considered to be huge in India, according to one analyst India’s food expenditure amounted to $77 billion in 2000, out of the total world food spending of $4000 billion. (Business Line, 2000) 2. 4 Threats Along with the tremendous opportunities, came many threats, which affected the i mplementation McDonalds wanted to undertake. The expansive food market that was considered an enormous opportunity was incredibly fragmented, consisting of millions of smaller roadside food stalls and restaurants, known as dhaba, that were located throughout the subcontinent. For launches of new products or stores, eight languages had to be used, which affected the level of reach advertising campaigns would have, also inflating the cost of set up and promotion. India also had incredibly poor infrastructure, which looked and still looks far off from being improved. Delhi and Bangalore, two of India’s established and advanced cities still suffered total power shortages and blackouts on a regular basis. 2. 5 SWOT findings: 3 Issues that McDonalds should Address The three most significant issues that were found in the SWOT analysis were; he sheer size and strength of McDonalds capital resources and assets, the size of the economy and purchasing power adjusted per capita GDP, and finally the cultural influences and diversity of the nation. The capital and human resources McDonalds employees globally ensures an almost infinite amount of research and development can take place, ensuring a smoother operation and implementation of initiatives in order to en ter a new market. The GDP per capita is an excellent indicator of what a potential market can offer. When the Indian economy began to open its doors to foreign investments in 1991, many companies saw this statistic as a great opportunity, also being lured in by the attraction of a growing middle class, currently somewhere in the proximity of 400 million. Both the two points above outline strong reasons for a successful market, however the most important factor to take into account when entering a foreign market is the underlying cultural differences of the host nation. More so, in India particularly is the incredible diversity of cultures that span across the subcontinent. This was most probably the most important issue to consider when factoring in an entry into a new market. Many well known multinational brands had failed with their initial strategies and were forced to either reposition products and brands, drastically reduce prices, and in some cases – close up shop (e. g. Peugeot. ) Kellogg’s attempted to enter the Indian market in 1992, and offered cereals that were several more times expensive than traditional breakfasts, and locals were not particularly attracted to their product. McDonalds had to undergo product adaptation to suit local tastes and cultures in various regions throughout the world, for example, McRice in Indonesia, McPork in Thailand, McSpaghetti with Filipino ham in the Philippines, or McLox Salmon sandwiches in Norway. However, the degree of adaptation was significantly greater in India. McDonald’s core product, the Big Mac, was replaced with the Maharaja Burger, which replaced a beef patty with a mutton patty. In addition, since 40% of the market was considered to be vegetarian, the McAloo burger was introduced with a potato patty. A special spicy salad sandwich was also introduced, and most condiments, were to be made far spicier than those found in other nations. After two years of operation McDonalds conducted a consumer feedback report, this found that consumers wanted a greater variety, and still found the restaurants to be far too expensive. McDonald’s then introduced several new and cheaper products, including the Veg Pizza McPuff, which became a national best seller. After five years of operation, in 2001, the standard Asian McDonalds menu was found to be 75% localized for the Indian subcontinent. To further meet local standards, McDonalds assured all consumers and the greater public that all non vegetarian products were being prepared by different staff, in a different facility, using different utensils from that of meat based products. This was also documented on their menu and was found on many advertisements. 3. 0 Cultural Fit for McDonalds in India The Indian culture can be characterized by the diverse population, which sticks to its strict food tradition. India has more than five thousands ethnic communities; each region and sub region in India has distinct food tradition and preference. It is interesting to note that the Indians used to food prepared at home which is considered healthy and, first of all, cheaper. Due to such distinct dietary habitats and food preference of Indian consumers, until the early 1990’s western food chains had largely ignored Indian market. India’s majority of population is of Hindu religion (80% of India’s population) in which cows are considered to be sacred, and 160 million of Indian Muslim (13. 4 % of India’s population) does not eat pork and beef. Taking this step in mind McDonald’s have developed some vegetarian menu to suits Indian taste and culture. The result was, respecting for local culture, India is the first country in the world where McDonald’s does not offer any beef or pork. Later, to suits the local customer McDonald’s has to introduce mutton based â€Å"Maharaja Mac† in India and they had introduced 14 other items such as McAloo tikki Burger (breaded potato and pea pattie). Approximately 75% of the menu available in India is â€Å"Indianized† and specially design for the Indian customer. McDonalds India is recognized as a family restaurant, there is less demand for take-away food in India. People like to go restaurant and like to finish their meal in restaurant and do not believe in take away. In India there is no drive thru system. Indian McDonald’s are very big compare to other country McDonalds because of recognize as a family restaurant. Festivals also carry a major role in Indian culture, and can often operate in seasons. Indian people typically like to spend more money on eating out and purchasing new products during festival time. To take the advantage on the spending habits of Indian customer, McDonald’s has often sought to launch new product, during Indian festival seasons. Some of the major and popular religious festivals in India during September and November are Navratri, Dussehra, and Diwali. When even non-vegetarian Hindu turn into vegetarians. 4. 0 Cultural Issues making India more or less attractive to the McDonalds Corporation. The major culture issues faced by McDonalds India were that the people of India were not eating beef and pork, which is the main ingredient of McDonald’s burger. This was a reason for McDonald’s facing many controversies in India. The controversy of McDonald’s fries is that they are not fully vegetarian. McDonald’s used to put beef extract in fries to make them tastier. This caused Mumbai and Delhi McDonald’s outlets to be targeted by violent protest groups, such as the Hindu militant group, Shiv Sena. Following this protest, the company was sued in America. Later, McDonalds gave a public assurance that it does not contain any animal extract in any vegetarian food in India. Another issue that can be discuss, as a major culture issues is attitude towards foreign food dietary. At world level McDonalds is recognized as junk food. According to Dr. Vandan Shiva the director of Research Foundation For Science, Technology, and Ecology, junk food chain like McDonalds and KFC destroying ecological balance and cause a severe disorders because of their fatty and unhealthy foods. This food chain is also for the wealthier segment of people not for poor. Which promotes more inequality in the country. Looking at the case what happened to McDonald it clearly represents us that cultural do have an impact on business and industry must study it before entering into the country or region. . 0 Progression and Structure. The development of McDonald’s core competencies within India has continued to evolve with the market expanding and continual changes, primarily of the Indian middle class. The progression of McDonalds India is evident throughout the ongoing improvement in performance and satisfied customers. During its first 12 months of operations (1996), McDonalds opened 7 outlets, 4 in Delhi and 3 in Mumbai, between them they served u p 350,000 Maharaja Macs and had 6 million customer visits. By 1998 the number of outlets had reached 14, by 2000 there were 25 outlets nation wide, and by 2001 there were 46 outlets nation wide. McDonalds ongoing success was further highlighted by KFC’s failed attempt to enter the market in the same year. By mid 2000, 50% of McDonalds’ revenue was derived from the sales of vegetarian only products. This was seen to be a major milestone for the corporation whose critics had often claimed that this would be the demise of the fast food chain in India. 6. 0 Strategies and Success In light of their success and domestic acceptance, McDonalds underwent several different strategies, firstly increasing its seating capacity in several of its restaurants by adding birthday party areas and expanding general seating areas. â€Å"A normal kebab with all the trimmings, at a regular restaurant would cost more than Rs 25 and if the new McGrill is giving us a similar satisfaction with its mint chutney, then we’d rather eat in a lively McDonalds outlet than sitting in a cramped car on the road. † Local McDonalds Customer: Helped give reason to the increase in seating capacity. Secondly attempting to open more outlets in less populated cities where there may be demand for McDonalds. These cities generally had lower income per capita levels, and were less densely populated in comparison to Delhi and Mumbai. Therefore they would most likely be less approachable with regards to western food. McDonalds, also underwent a massive movement to open many outlets at all nationwide railway stations, airports, busy highways, petrol stations, malls, multiplexes, cinema halls, and interstate bus terminals. The majority of these investments required lower levels of investment per outlet due to the nature of the surroundings. The continual growth did see many positives for McDonalds India, however the rapid expansion meant that the bottom line would in fact be affected over the following years. There was no doubt the return on investment would be of a significant profit, yet there was an opportunity that arose within the growth of the market and McDonalds had to take advantage. The result was simply a delay in the returns, however McDonalds India has continued to flourish and is now home to 160 restaurants across the country, employing more than 4000 people. (McDonalds India, 2008) . 0 References BBC News, India’s Population, http://news. bbc. co. uk/2/hi/3575994. stm Long way for India to go on the retail front, Business Line, December 6, 2000 McDonalds Corporation 2002 Annual Report, www. mcdonalds. com/investors McDonalds India, 2008: www. mcdonaldsindia. com/McDonaldsinIndia. pdf The Golden Arches in India: A Case of Strategic Adaptation, Dr Amit Rangnekar The Golden Arches in India: A Case of Strategic Adaptation, Dr Saroja Subrahmanyan Various financial reports, facts and findings, mcdonalds. com