Juvenile Crime and Justice - 1126 Words

Juvenile Crime Justice Introduction Are crime rates for juveniles in the United States on the rise or are they falling? What kinds of crimes are juveniles typically arrested for? Are all the laws and policies with reference to juvenile justice seen as truly fair? Should a juvenile be locked up for life without the possibility of parole? What has the U.S. Supreme Court ruled as to locking juveniles up for life without the possibility of parole? These and other issues will be discussed in this speech. What are the most current arrest rate statistics for juveniles? According to the Office of Juvenile Justice and Delinquency Prevention a component of the U.S. Department of Justice the rate of arrests for juveniles over the past few years is declining, and in some cases it is declining dramatically. For example. there were 1.9 million arrests of juveniles (young people under the age of 18) in 2009. That would seem like a lot of arrests at first but actually that arrest rate was down 17% from the year 2000, which is a positive statistic. The Juvenile Justice statistics show that the juvenile arrest rate for murder doubled between the mid-1980s and 1993, but that rate declined from 13 arrests per 100,000 juveniles in 1993 to just 4 arrests per 100,000 juveniles in 2009. That arrest rate for murder in 2009 is 72% lower than it was in 1993, which again, is a positive statistic. As to forcible rape, the juvenile justice statistics showed that between the early 1980sShow MoreRelatedJuvenile Justice : Juvenile Crime1035 Words   |  5 PagesStephani Portillo Honors English 10b Branson,6 May 19,2017 Juvenile Justice As juvenile crime increases over the years due to gang activity, bullying, etc. many offenders are given a life sentence without parole. There isn t a clear boundary that marks at what age should they be treated as adults because the severity of their action always effects that. Should a 6-year-old be convicted with life in prison or should they let them go? Is a 16-year-old enough to be charged with murder like an adultRead MoreJuvenile Crime And The Juvenile Justice System1278 Words   |  6 PagesBryn Conley November 7, 2014 Juvenile Crime and the Juvenile Justice System in North Carolina: Informative Speech Specific Purpose Statement To inform my audience about the seriousness of juvenile crime and the problems that North Carolina faces when dealing with underage offenders. Introduction I. According to the Annual Summary Report done by the North Carolina Department of Justice and the State Bureau of Investigation, in 2012, approximately 36,000 juveniles were arrested in the state of NorthRead MoreJuvenile Crime And Juvenile Justice System906 Words   |  4 Pagesmany are concerned about the high percentage of crimes that are committed, we tend to turn immediately to our youth thinking that if we somehow manage to keep youth under control we will deter crimes. As discuss in chapter 9 and the OJJPD reports, the juvenile justice system had determined that by waiving and transferring minors who commit crimes to criminal courts to be tried and punished like an adult, there would be a decrease on violent crimes. On the other hand, there are many intake alternativesRead MoreJuvenile Crime : The Criminal Justice System1031 Words   |  5 PagesIn the 1990s, violent juvenile crime rates had reached record high levels throughout the United States. During these years, many A mericans considered the criminal justice system too easy on violent juvenile offenders and demanded reform. Many states, including Florida began to focus efforts on juvenile crime. â€Å"Florida’s criminal sentencing laws and punishment policies from 1980 to 2000 reflected an ongoing, focused effort to deter serious crimes† (Taylor). Crimes were given stricter sentencing guidelinesRead MoreJuvenile Justice System And For Reducing Juvenile Crime Rates2187 Words   |  9 Pagesuniversally important. Examples include crime, economics, education, family, healthcare, homelessness, poverty, and many others. The United States is now the world leader in its rate of incarceration. Over the past 25 years, juvenile crime has skyrocketed, with drug crimes, gang violence, school shootings, and other violent acts being regularly featured in the news. During the past 10 years, nearly all 50 states have overhauled their juvenile justice laws, allowing more youths to be tried asRe ad MoreJuvenile Justice System As A Form Of Crime Control882 Words   |  4 PagesSocial control has been a central concept in sociological discussions of law for the past century (Black, 1976), the juvenile justice system as a form of social control is no exception (Blomberg, 1977). Juvenile justice has a rich history in early British Law, but as a separate entity in the US, its history is relatively short but no less important. What began as a movement to separate youths from adults to shield them from contamination of incorrigibility (Fox, 1996), appears to have become anotherRead MoreJuvenile Crime Issues in Today’s Criminal Justice System18893 Words   |  76 Pages ©  ©  ©  © chapter 15 Juvenile Justice chapter 16 Drugs and Crime chapter 17 Terrorism and Multinational Criminal Justice chapter 18 The Future of Criminal Justice These individual rights must be effectively balanced against these present and emerging community concerns: Widespread drug abuse among youth The threat of juvenile crime Urban gang violence High-technology, computer, and Internet crime (cybercrime) Terrorism and narcoterrorism Occupational and whitecollar crime  ©  © A right to privacyRead MoreAnalysis Of The Cycle Of Juvenile Justice1342 Words   |  6 PagesRunning head: CYCLE JUVENILE JUSTICE​ ​1 Analysis of the Cycle of Juvenile Justice Theory Name School ​​ Professor Class Date Analysis of the Cycle of Juvenile Justice Theory ​In the text, Thomas Bernard examines the cyclical nature of the juvenile justice system (Weisheit Culbertson, 2000, p. 13-31). The author posits that the implementation of juvenile justice is constantly swinging from one extreme to the other based, largely, on the public’s perceptionRead MoreFuture of the Juvenile Justice System1280 Words   |  6 PagesFuture of the Juvenile Justice System The future of the juvenile justice system is uncertain. There is a struggle to try a find a way to serve the needs of the juvenile delinquents and issue them a punishment for violating the law. In order to improve the direction of the juvenile justice system, recommendations are needed regarding community involvement, law enforcement, courts, corrections, and the private sector. These recommendations address issues that the system is currently facing and offersRead MoreThe Juvenile Justice System Is A System Modeled To Provide1066 Words   |  5 PagesThe Juvenile Justice System is a system modeled to provide a legal setting where youths account for their wrongs or are offered official protection. A distinct juveniles justice system commenced in the United States over 100 years ago. The first juvenile court was established in 1899. The system is founded under a range of core principles. First, juveniles are different from adults and hence need to be handled differently by the Justic e System. Second, it is argued that juveniles differ from one

The Freedom And Freedom Of The United States - 1415 Words

The Meaning of Freedom Freedom and liberties are the most popular and significant topic in the United States. However, what’s the freedom and who can enjoy the freedom became the controversial arguments in America during its post-civil war period. Since people with different gender, different race and even different customs may have their own opinions and prospects of the rights they should have, white Americans, Africa Americans, immigrants and even women were trying to define and strive for their own freedom. Compared Africa American and American women, after the reconstruction of the United States, the former one mainly strived for their personal liberty such as free marriage and political rights like voting, whereas women not only strived for their equal rights but also their social respect. Africa- American is one of the largest ethnic group in the United States. In the 18th and 19th century, African Americans were also the major part of the slave —people who were owned and controlled by slave-holders (people who decide where slave live and at what they work.) Slaves’ rights were severely limited. They were not allowed to move freely, but always be monitored. They were denied rights of education, and there even did not exist the law to support slaves’ marriages. They could not have any economic/social independence and political right in the country. Africa-American is the group who suffered physical isolation and societal marginalization in the country; due to theirShow MoreRelatedThe Freedom And Freedom Of The United States1499 Words   |  6 PagesKnowing the Meaning of Freedom Freedom and liberties are the most popular and significant topic in the United States. However, what’s the freedom and who can enjoy the freedom became the controversial arguments in America during its post-civil war period. Since people with different gender, different race, and even different customs may have their own opinions and prospects of the rights they should have, white Americans, African Americans, immigrants and even women were trying to define and striveRead MoreThe Freedom Of The United States1501 Words   |  7 PagesWhen United States was founded, it was signified as the most progressive and political movement in Western Civilization, which has continued to change and form from all the racial, ethnic, and religious diversities within society. Through the freedom that was first generated from the separation of the church and state to the manifestation of the Constitution on December 15, 1791, it has changed the course of history forever. The expression of the people’s legal rights was the First Amendment to theRead MoreThe Freedom And Freedom Of The United States Of America1603 Words   |  7 PagesAmericans, in this rightfully proud nation of The United States of America, have freedom and liberty set amongst the highest of our ideals. Generations were born and raised in this country. They were taught to always respect and cherish the rights and liberties given to us, the people, that were earned and are still being bravely defended to this day. Our rights were earned and are defended by our courageous, gun wielding soldiers. Currently, in this turbulent time of politics in our nation,Read MoreThe Freedom Of The United States759 Words   |  4 Pagesgreat country should be incredibly thankful for the freedoms and opportunities we have been afforded because many individuals that we have had the privilege of knowing and many individuals that we haven’t had the honor of knowing have all sacrificed their lives to protect our freedoms. Due in part to this great sacrifice, America can and is considered to be a country with a great sense of equality, opportunity, and freedom. The United States of America as stated before is a country were individualsRead MoreThe Freedom Of The United States Essay854 Words   |  4 PagesFreedom House was established in 1941 in the United States and focused first on the threat to freedom represented by Nazism. After the war, in its own words, it â€Å"took up the struggle against the other great twentieth century totalitarian threat, Communism† and defined its mission as working for the spread of democracy and human rights in the world. Indeed, one of the instruments developed by Freedom House in order to spread its mission is the’s press freedom index, which has not changed practicallyRead MoreThe Freedom Of The United States Essay2413 Words   |  10 Pagesthe United States among the other freedoms that were automatically granted to whites when they were born. Freedom is defined as, â€Å"The power or right to act, speak or think as one wants without hindrance or restraint.† The 13th Amendment technically freed the slaves, but for a slave in 1864, African American’s vision of freedom was limited because they had been seen as property for such a long time. Slaves didn t know what was out there and there were many whites against this new freedom theyRead MoreThe Freedom Of The United States901 Words   |  4 PagesAs we all know, freedom is a very meaningful word, and it has a variety expressions and definitions. I can define the word freedom as liberty, independence, acting spontaneously, expressing yourself with no fears, being positive and making your own choices. All people in the entire world like to be free with no barrier or any kind of obstacles, emotionally and physically. Human beings deserve to be free and live their life with no struggles. The most moment I felt entirely free is when I went backRead MoreFreedom Of Speech : The United States1654 Words   |  7 PagesHonors English Period 7 14 March 2016 Freedom of Speech We the People of the United States, in order to form a perfect union and establish justice, created a Constitution for the good of all in the year of 1789. Two-hundred years later these composition of laws are still relevant to our lives. In these, the First Amendment, which was established into the constitution for the purpose of being conformed and to grant the citizens a guarantee of their basic freedom of speech; however, it appears thatRead MoreThe Freedom Of Speech By The United States Essay1530 Words   |  7 PagesThere are many phrases and use of words that can be considered controversial in the past as well in todays society. The first amendment states that â€Å"congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.† (Volokh, 2016.). Throughout hist ory, congress has kept up their end of the dealRead MoreReligious Freedom Of The United States1113 Words   |  5 PagesIn the United States, religious freedom is a unique right that not all countries allow. The founding fathers instilled this idea although they predominately followed the Christian faith. Several documents and common American morals have Christian roots; some of which include the establishment of God given rights and basic human decency. The words â€Å"In God We Trust† on our currency and â€Å"One Nation Under God† in our pledge represent the guiding principles that the United States was established on. Although

Entrepreneurship & Marketing Tactics Used By Zambrero Restaurant Get S

Question: Describe about the Entrepreneurship and Marketing of Zambrero restaurant established by Dr Sam Prince? Answer: Executive Summary: This case revise comprises the increasing trends of societal entrepreneurship and it also contains the characteristic or traits of entrepreneurship. Zambrero, a restaurant established by Dr Sam Prince, has developed into an intercontinental franchise. All the way from side to side of this, they begun Plate four plates; serving dish of foodstuff for those who are required. In addition that Dr. Sam Prince furthermore assists the public who are anguish as of scabies as well as designated for numerous attainments. Introduction: Dr. Prince, he is an industrialist. He is an Australian doctor with Scottish-born along with Sri Lankan heritage, conducting a procession of Mexican restaurants as well as running relieve work within the region of Asia-Pacific, especially in locations such as Vietnam, Cambodia and Sri Lanka. At the age of 21 years, Dr. Sam Prince has started a restaurant namely Zambrero. A lot of industrialists exhibit performance relating to entrepreneurial from an earlier period, at the time they acquire on their aperture trade enterprise. At that period of time, Dr. Sam Prince was at 21 years of age and he was the student of a Medical School and he was employed as a chief in a Mexican restaurant with an intention of carrying out his way in the course of his studies at University level. In that caf Sam has been ascertaining his passion towards Mexican foodstuff and for the buyer that approach to that caf. This passion for the services and merchandise is manifested in both the places of Mexico and Zambrero, subsequently his Mexican market to counteract bistro in Sydney. Then he move towards with a pioneering thought where he held that for each feast put up for sale in Zambrero, a serving dish of foodstuff is contribute to the growing world, that is used to be called as plate for plate by him (Hardy, 2013). In the year of 2010, Dr. Sam Prince was designated for the Entrepreneur of the year. Sam is furthermore a founder and the chairman of One Disease at a Time, were Sam used to work for that populace who are anguish in relation to eliminating scabies, and it is an ailment that is familiar among all the local societies. Because of this phenomenal success Australian Capital Territory nominated him in the year 2012 as a Young Australian. With the assistance of his pioneering medical business he worked for 100 men by constructing an aid project by virtue of this Dr. Prince thousands of peoples lives has been civilized. Because of the social works done by Dr. Sam, in the year 2011 GQ declared him as the Man of courtesy in the list of annual Men of the year (Bent-Goodley, 2015). Analysis of Entrepreneur Traits/Characteristics: In the case revise of Dr. Sam Prince, he is a generous donor and industrialist. Dr. Prince covet to construct a compassionate association dedicated to societal conscientiousness simultaneously as provided that courageous, modern Mexican (Nadan, 2014). Entrepreneur traits and characteristics: 1. Obsession In accordance with the case revise of Dr. Prince, he is an industrialist and humanitarian. He is a societal industrialist; his primarily focal point was on societal work. In the vein of in this case revise his obsession is to start a caf namely Zambrero, conversely Prince used to assist those populace who are anguish in relation to eliminating scabies. At the epoch of 21 years, he starts a bistro that is well famous for serving Mexican foodstuffs (Carsrud and Brannback, 2007). 2. Whilst conducting societal work such as for individuals who are distress from assist, in this regard Dr. Prince has learn three directives. First one, earlier than you perform any kind of support works, you believed to encompass with an obvious discerning of what you deem are a fundamental rights of human beings and a fundamental responsibility of human society. Being a medical doctor we get hold of the Hippocratic pledge of first does no harm. Second one, while he sense back to functioning in the urgent situation department of a hospital, he describe the gaze of entire panic in the eyes of the persons who are go through from cardiac attack. Third one, have to sprint a support association along with the same kind of severity as you would conduct a trade (Shetty, 2004). 3. Prior Preparation for everything- At the present beyond, focus point of Dr. Prince shifted from Asia to native communities closer to home. The thought subsequent to One Disease at a position was ember by a conversation made along with one of the mentors of his work field, namely Frank Bowden. He is a professor of medicinal at the Australian National University Medical School. Dr. Prince thought that he be able to accomplish this whilst being a medical doctor, assist worker and industrialist (Trivedi, 2010). Another supplementary major human being anxious with it, namely Professor Jonathan Carapetis, his study uncovered a relation concerning membrane disease that is generally causes by this scabies tick a nd the impending incurable rigid cardiac disease (Bygrave and Zacharakis, 2008). Recent Trends in Social Entrepreneurship: Societal entrepreneurship is supplementary as driver of market, measurement inclination than hitherto earlier, business friendly, said by a well known entrepreneur namely Jason Saul. Some of the present trends in societal private enterprise, we consider that these trends are be able to become aware of stronger extension as additional entrepreneurs will get energized to have an effect on the business and comprehend their interests: 1. Commerce- It is speedy as a method of combating with meager quality. A growing division of social startups is utilizing consumerism to enlarge wherewithal, to build reasonable employment and to recuperate the standard of living in relation to the poor. They are constructed stuffs and corporation with the highest supplementary ethical values such as mindful manufacturing, organic, fair wages etc (Keister, 2005). 2. Crowd funding- It is more and more be the preferred alternative for entrepreneurs to sustain their startups. In recent times, in the year 2013, proverb crack of societal fine venture upon mass funding spot similar to a kick starter, Indiegogo etc are able to be their subsidize raise tricks (Young, 2013). 3. Data- In this little a large will gradually spotlight further upon the energetic strength at the back of every action in the societal fine places. At the supervisory echelon, entrepreneurs are additionally conscious about the information they are engendering each day. They are constantly computing and scrutinize statistics to strengthen trade resolution and to optimize about attainment.4. Proof- Cent per cent unambiguousness is the most modern, budding trends that several entrepreneurs are conformity. In this Charity Water was the innovative organization used to work without profit that commence this, provide evidence in favor of raising each dollar in constructing dissimilarity on the spat (Tan and Yoo, 2014). 5. Hackathons- Throughout primarily arranged by and admired along with the tech civilization has in use the social fine dissection by tempest (Gass, 2011).6. Energy- Development in renewable, necessitate for evenhanded, renewable vigor carry on to increase as the influence demands of a worldwide populace amplify. Developed country have continuing to reduce or sluggish downward the creation of greenhouse gas emissions, but additional is required to bewilder type of weather to adjust (Rich, 2014). Conclusion: After the above discussion it can be said that most important endeavor of the case revise is to explain the industrialist trends and trait and furthermore comprise the present trends of societal entrepreneurship. This case revise is all concerning an entrepreneurship and humanitarian Dr. Sam Prince; who is a medical doctor conversely his obsession is in the direction of starting up a restaurant specialist in Mexican food namely Zambrero. As well as Dr. Prince utilizes to obtain adequate level of concern of that populace who are anguish in relation to Scabies. He insert that the subtraction of scabies out of eastern part of Arnhem Land is an exceptionally difficult job and one have several false impression that a simple advantage of extra money will decide a merged difficulty that is as greatly as a general question as a medicinal one. Dr. Sam Prince manifestly timepieces up a magnificent digit of hours every week, but endeavor and cooperate amalgamated into one for him. Dr. Sam Princ e places the enthusiasm of other persons to acquire anxious at the back of him annoying his imaginings upon his sleeves. Dr. Prince utter that by advantage of aver it and articulate, I want to do this and creature open about it, this manners the civic in the region of you. Dr. Prince believes that at this point such an ample of populace who know how to help you. We survive in an insufficient perception where we imagine akin to there is merely one human being in the earth who know how to assist you to carry out your dreams (Special Issue of Journal of Social Entrepreneurship, 2012). References Bent-Goodley, T. (2015). A Call for Social Work Activism.Social Work. Bygrave, W. and Zacharakis, A. (2008).Entrepreneurship. Hoboken, NJ: John Wiley Sons. Carsrud, A. and Brannback, M. (2007).Entrepreneurship. Westport, Conn.: Greenwood Press. Gass, D. (2011).Crowd funding. Las Vegas, NV: Jump Profit,. Hardy, M. (2013). 'Public' social work?.Qualitative Social Work, 12(4), pp.540-541. Keister, L. (2005).Entrepreneurship. Amsterdam: Elsevier JAI. Nadan, Y. (2014). Rethinking 'cultural competence' in international social work.International Social Work. Rich, J. (2014).The crowd funding services handbook. Hoboken, N.J.: Wiley. Shetty, P. (2004). Attitude Towards Entrepreneurship in Organisations.Journal of Entrepreneurship, 13(1), pp.53-68. Special Issue of Journal of Social Entrepreneurship. (2012).Journal of Social Entrepreneurship, 3(1), pp.113-114. Trivedi, C. (2010). A Social Entrepreneurship Bibliography.Journal of Entrepreneurship, 19(1), pp.81-85. Young, T. (2013).The everything guide to crowdfunding. Avon, Mass.: Adams Media.

Audit Planning and Risk Assessment Essay Sample free essay sample

Hearers should be after the audit so that the battle is conducted in an effectual mode. The aims of be aftering include: †¢ Directing appropriate attending to the different countries of the audit such as measuring materiality. so that when the detailed audit program is prepared. audit processs can be directed towards the stuff sums. †¢ Identify possible jobs or hazards so that they can be resolved at an early phase. †¢ Facilitate reappraisal and control of the audit. †¢ Assigning and briefing staff with appropriate accomplishments. cognition. preparation. proficiency. †¢ Organizing the work of others such as that of experts. †¢ Obtaining cognition and apprehension of the client’s concern. †¢ Supplying an economic and effectual service within appropriate timescales Planing an audit will allow development of: †¢ An audit scheme based on hazard analysis†¢ An audit program that turn toing the hazards identified. Planing processs: †¢ Review the old old ages working documents†¢ Identify job countries encountered†¢ Determine staffing demands†¢ Obtain an indicant of clip required†¢ If the client is new. We will write a custom essay sample on Audit Planning and Risk Assessment Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page reexamine the old auditors’ working documents to obtain shutting balances which will impact this year’s fiscal statements. †¢ Determine the trading form and jobs faced by the client company. †¢ Establish timetable. of import day of the months and deadlines †¢ Assess the consequence of alterations from old twelvemonth: 1. Systems 2. Law and ordinance 3. Accounting policies 4. Management 5. Other relevant affairs †¢ Perform analytical reappraisal or processs on the latest histories. †¢ Request readying of hard currency and net income projections where solvency jobs are foreseen. †¢ Review the work of internal audit. †¢ Evaluate whether trust on other expert is necessary †¢ Allocate and brief audit staff. ISA 315 Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and Its Environment 1. The hearer should execute hazard appraisal processs in order to place and measure the hazards of material misstatement. Risk appraisal processs include: †¢ Making enquiries of direction and others within the entity †¢ Discuss with the client’s direction about its aims and outlooks. and its programs for accomplishing those ends †¢ Observation and review †¢ Perform analytical processs to assist the hearer in placing unusual minutess. 2. The hearer should obtain an apprehension of the entity and its environment. including the entity’s internal control systems. Understanding of the entity and its environment will assist the hearer to place the hazards of material mis-statement ; will supply the hearer with a footing for planing and implementing responses to assessed hazard and to guarantee that sufficient appropriate audit grounds is collected. An apprehension of the entity can be obtained through understanding †¢ Relevant industry. regulative. and the applicable fiscal coverage model †¢ The nature of its operations ; its ownership construction and administration construction †¢ The market and its competition †¢ Nature of products/services and markets†¢ Location of production installations and mills†¢ Key clients and providers†¢ Capital investing activities†¢ Significant changes over anterior old ages.3. The hearer should place and measure the hazards of material misstatement. and find whether any of the hazards identified are important hazards. This will assist the hearer to plan and execute farther audit processs. RISK ASSESSMENT The hearer should place and measure the hazards of material misstatement. whether due to fraud or mistake. at the fiscal statement and averment degrees. The hearer must obtain an apprehension of the entity and its environment. including internal controls. so that they can place and measure the hazards of material misstatement on fiscal statements due to fraud or mistake and design and execute farther audit processs. The aim is to guarantee that hearers obtain sufficient cognition of the concern of the entity to enable them to place and understand the events. minutess or pattern that may hold a important consequence on the fiscal statements or the audit. This cognition of the concern helps to measure the degrees of control and built-in hazard and to find audit processs. Procedures to follow: †¢ Enquiry of direction†¢ Analytical processs.†¢ Observation and review. Advantages of Risk Assessment†¢ Ensures that attending is focused early on the countries most likely to do material misstatements. †¢ Allows hearer to to the full understand the entity.†¢ Allows the hearer to place unusual minutess or balances every bit early as possible so that these could be addressed in a timely mode. †¢ Permits the audit squad to concentrate on cardinal countries.†¢ Ensure that an experient squad is selected with more experient staff allocated to higher hazard audits and high hazard balances. †¢ Reduces the hazard of an inappropriate audit sentiment being given. †¢ Permits the hearer to hold a good apprehension of the hazards of fraud. money laundering. †¢ Enables the hearer to measure whether the client is a traveling concern. ISA 400 RISK ASSESSMENTS AND INTERNAL CONTROL There are 2 chief classs of hazard 1. Business Hazard2. Audited account Hazard. 1. Business Hazards Business hazard is the hazard that the concern will neglect to run into its aim. Elementss of Business Risk include †¢ Financial hazard which arises from the company activities such as traveling concern jobs. overtrading. recognition hazard. involvement hazard. currency hazard and dislocation of accounting systems. †¢ Operational hazard originating from the operation of the concern such as doomed concern chances. loss of physical assets and deficiency of concern orders. †¢ Conformity hazard originating from non-compliances with Torahs and ordinances such as breach of companies Acts of the Apostless. and wellness and safety ordinances. 2. Audited account hazard is defined as the hazard that the hearer expresses an inappropriate audit sentiment when the fiscal statements are materially misstated. Audited account hazard has two constituents I. Hazards of stuff misstatement ( Financial Statement Risk ) II. Detection Hazard I. Hazard of material misstatement is defined as ‘the hazard that the fiscal statements are materially misstated prior to scrutinize. This consists of two elements built-in hazard and control hazard. Fiscal Statement Risk = Risk of stuff misstatement= built-in hazard + control hazard Built-in hazard is ‘the hazard that an averment about a category of dealing. history balance or revelation could be materially misstated. Built-in hazard is the hazard that misstatement will happen due to factors built-in in the company’s concern or environment or the nature of single dealing or balance. It is the hazard attached to an averment that could do a material misstatement. Certain averments. related categories of minutess and history balances such as stock are more prone to hazard. Built-in hazard depends on the type of concern.The following have a high built-in hazard: †¢ Businesss with merchandises capable to alterations in manner and engineering concern. The hazard is that stock could be overstated. †¢ Companies with a dominant main executive.†¢ Small and new companies.†¢ Companies sing traveling concern jobs.†¢ Companies confronting a extremely competitory environment. Control hazard is the hazard that a misstatement could happen in an history balance or category of minutess and that could be material either separately or when aggregated with misstatement in other balance or category. would non be detected and corrected on timely footing. by the accounting and internal control systems. This is the hazard that the client’s internal control system will non forestall mistakes happening or will non observe them after the happening so that they may be prevented. Example of control hazard – corporate civilization of slack control processs. deficiency of proper rapprochement of leger balances. II. Detection hazard Detection hazard is the hazard that auditor’s substantial processs do non observe a misstatement that exist in an history balance or category of minutess that could be material either separately or when aggregated with misstatements in other balance. One constituent of sensing hazard is trying hazard. Sampling hazard is the possibility that the auditor’s decision. based on a sample. may be different from the decision reached if the full population were subjected to the audit process. Note: Hazards must be related to the hazard originating in the audit of the fiscal statements and should include the fiscal statement averment impacted. Therefore. audit hazards should be related back to relevant averments in the fiscal statements and must province whether the history will be overstated or understated. Measuring Hazard: ISA 330 The auditor’s processs in response to assessed hazards 1. ISA 330 indicates that the hearer must react to the assessed hazard by finding the nature and extent of audit grounds to be obtained from the public presentation of substantial processs in response to the related appraisal of the hazard of material misstatement. This varies depending on the appraisal of built-in and control hazards. and that. irrespective of the assessed hazard of material misstatement. the hearer designs and performs substantial processs for each material category of minutess. history balance. and revelation and that the assessed degrees of built-in and control hazard can non be sufficiently low to extinguish the demand to execute any substantial processs. †¢ Emphasize to the audit squad the demand to keep professional incredulity in assemblage and measuring audit grounds. †¢ Assign more experient staff or those with particular accomplishments or utilizing experts. supplying more supervising. †¢ Make alterations to the nature. timing. or extent of audit processs as an overall response. for illustration. executing substantial processs at period terminal alternatively of at an interim day of the month. In planing farther audit processs. the hearer considers such affairs as the followers: †¢ The significance of the hazard.†¢ The likeliness that a material misstatement will happen.†¢ The features of the category of minutess. history balance. or revelation †¢ involved.†¢ The nature of the particular controls used by the entity and in peculiar whether they are manual or automated. †¢ Whether the hearer expects to obtain audit grounds to find if the entity’s controls are effectual in forestalling. or observing and rectifying. material misstatements. ISA 520 Analytical Procedures Analytic processs are used in obtaining an apprehension of an entity and its environment and in the overall reappraisal at the terminal of the audit. ‘Analytical procedures’ really is the rating of fiscal and other information. and the reappraisal of plausible relationships in that information. The reappraisal besides includes identifying fluctuations and relationships that do non look consistent with other relevant information or consequences. Types of analytical processs Analytic processs can be used as: – Compare information to prior periods to place unusual alterations or fluctuations in sums. – Compare existent or awaited consequences of the entity with budgets and/or prognosiss. or the outlooks of the hearer in order to find the possible truth of those consequences. – Compare to industry information either for the industry as a whole or by comparing to entities of similar size to the client to find whether sensible. Use of analytical processs †¢ Risk appraisal processsAnalytic processs are used at the beginning of the audit to assist the hearer obtain an apprehension of the entity and measure the hazard of material misstatement. Audited account processs can so be directed to these‘risky’ countries. †¢ Analytical processs as substantial processs Analytic processs can be used as substantial processs in finding the hazard of material misstatement at the averment degree during work on the income statement and statement of fiscal place ( balance sheet ) . †¢ Analytical processs in the overall reappraisal at the terminal of the audit Analytical processs help the hearer at the terminal of the audit in organizing an overall decision as to whether the fiscal statements as a whole are consistent with the auditor’s apprehension of the entity. ISA 320 AUDIT MATERIALITY Hearers must see materiality and its relationship to audit hazard when conducting and audit. Information is material if its skip or misstatement could act upon the economic determinations of users taken on the footing of the fiscal statements. Misstatements. including skips. are considered to be material if they could moderately be expected to act upon the economic determinations of users. Materiality is an of import construct in the audit procedure and affects: †¢ Audit hazard rating†¢ The nature. timing and extent of audit processs ( e. g. sample sizes ) . †¢ The finding of whether the fiscal statements are distorted by misstatements discovered. The auditor’s appraisal of materiality is influenced by the followers: †¢ The overall impact on the fiscal statements. A materiality degree for the fiscal statements as a whole. †¢ Individual history balances and minutess†¢ Performance materiality. An sum or sums lower than themateriality degree for the fiscal statements as a whole. It is the sum set by the hearer to cut down the chance that the sum of uncorrected and undetected misstatements exceeds materiality for the fiscal statements as a whole. Performance materiality Performance materiality is set to cut down the chance that the sum of uncorrected and undetected misstatements in the fiscal statements exceeds materiality for the fiscal statements as a whole ISA 320 defines public presentation materiality as 1. The sum ( s ) set by the hearer at lower ( smaller ) than the materiality for the fiscal statements as a whole to cut down the chance that the sum of uncorrected and undetected misstatements exceeds materiality for the fiscal statements as a whole to an suitably low degree 2. Performance materiality besides refers to the sums set a less than materiality for the fiscal statements as a whole when sing peculiar categories of dealing. history balances or revelations. Examples:Materiality for fiscal statements as a whole. of ?90. 000 Sum of identified but uncorrected misstatements ? 40. 000 Sum of expected ( unidentified mis-statements ) ? 30. 000 ? 70. 000Lower of ? 90. 000 and ? 70. 000= ? 70. 000 The hearer should put materiality for the fiscal statements as a whole AND should besides set up an sum set at less than materiality when planing the nature. timing and extent of farther audit processs. This will assist to cut down the hazard that misstatements in aggregative exceed the entire for materiality for the fiscal statements as a whole. Determination of materiality requires the exercising of professional opinion. ISA 315 Assertions – Representations or statements made by direction andincluded in the fiscal statements SIX Assertions about categories of minutess and events ( Statement of Comprehensive Income points ) 1. Happening: A fiscal or non fiscal dealing occurred/ took topographic point during the accounting period. 2. Completeness: all minutess of gross revenues and disbursals that took topographic point are recorded in the statement of comprehensive income. 3. Accuracy: the minutess are recorded at the right sums. 4. Cut-off minutess have been recorded in the right accounting period 5. Categorization: the minutess have been recorded in the proper histories. 6. Presentation and revelation: all minutess are presented and disclosed in conformity with the relevant fiscal coverage model. FIVE Assertions about history balances in the Statement of Financial Position 1. Being: an plus and liability exists at balance sheet day of the month. ( The key aim is that assets are non overstated and liabilities are non understated ) . 2. Completeness: all assets and liabilities have been recorded. 3. Rights and duty ( Ownership ) : The company has the rights to utilize the plus and is obligated to refund the liabilities. 4. Assertions about rating: The assets and liabilities are recorded at an appropriate value. For all non current assets this would be initial cost plus additions or subtractions decreased in value. 5. Assertions about presentation and revelations: Must be in conformity with relevant national statute law and accounting criterion. The auditor’s appraisal of the identified hazards at the averment degree provides a footing for sing the appropriate audit attack for planing and executing farther audit processs. The response must utilize: 1. Trial of controls/ conformity trials In some instances. the hearer may find that merely by executing trials of controls will he accomplish an effectual response to the assessed hazard of material misstatement for a peculiar averment. Trials of control are an audit process designed to measure the operating effectivity of controls in forestalling. or observing and rectifying. material misstatements at the averment degree. The hearer designs trials of controls to obtain sufficient appropriate audit grounds that the controls operated efficaciously throughout the period of trust. Matters the hearer may see in finding the extent of the auditor’s trials of controls include the followers: †¢ The frequence of the public presentation of the control by the entity during the period. †¢ The length of clip during the audit period that the hearer is trusting on the operating effectivity of the control. †¢ The relevancy and dependability of the audit grounds to be obtained in back uping that the control prevents. or detects and corrects. stuff misstatements at the averment degree.†¢ The extent to which audit grounds is obtained from trials of other controls related to the averment. 2. Substantial Procedures. If the hearer determines that executing merely substantial processs is appropriate for specific averments. he can except the consequence of controls from the relevant hazard appraisal. This may be because the auditor’s hazard appraisal processs have non identified any effectual controls relevant to the averment. or because proving the operating effectivity of controls would be inefficient. However. the hearer needs to be satisfied that executing merely substantial processs for the relevant averment would be effectual in cut downing the hazard of material misstatement to an tolerably low degree. Often the hearer may find that a combined attack utilizing both trials of the operating effectivity of controls and substantial processs is an effectual attack. Substantial process – An audit process designed to observe material misstatements at the averment degree. Substantial processs comprise trials of inside informations and substantial analytical processs. ( I ) Trials of inside informations ( of categories of minutess. history balances. and revelations ) . and ( two ) Substantive analytical processs. Trials of item are appropriate for affairs identified as important hazards. These include composite or unusual minutess which make indicate fraud or other particular hazards. Interim Audited account: In some fortunes. the hearer may find that it is effectual to execute audit processs at an interim day of the month before twelvemonth terminal Trial of Controls at interim phase:When the hearer obtains grounds about the operating effectivity of controls during an interim audit. the hearer should find what extra audit grounds should be obtained for the staying period. Substantial Audited account Procedures at interim phase ( a ) Identify sums that appear unusual( B ) Investigate any such sums( degree Celsius ) Perform substantial analytical processs or trials of inside informations to prove the interim period. Performing substantial processs at an interim day of the month without set abouting extra processs at a ulterior day of the month addition the hazard that the hearer will non observe misstatements that may be at the period terminal. Documentation at planning phase The signifier and extent of audit certification is a affair of professional judgement. and is influenced by the nature. size and complexness of the entity and its internal control. handiness of information from the entity and the audit methodological analysis and engineering used in the audit. Must document the followers: †¢ Audit Strategy†¢ Key elements of the entity†¢ Identified or assessed hazard of material misstatement †¢ Responses to turn to hazard†¢ Nature. extent. timing of processs.†¢ Decisions ISA 402 Audit Considerations Relating to an Entity Using a 3rd party Service Organisation. Third party service organisations are companies that provide outsourcing services that impact the control environment of their clients. Example of 3rd party service organisations: A client may utilize a service organisation such as one that records minutess and procedures related informations such as a computing machine systems service organisation. If the entity uses a service organisation. certain policies. processs and records maintained by the service organisation may be relevant to the audit of the fiscal statements of the client. ISA 402 is applied when the hearer intends to utilize a service auditor’s study as audit grounds. If the hearer concludes that the activities of the service organisation are important to the entity and relevant to the audit. the hearer should obtain a sufficient apprehension of the service organisation and its environment. including its internal control. to place and measure the hazards of stuff misstatement and design further audit processs in response to the assessed hazards If the hearer uses a service organisation auditor’s study. the hearer should see the nature of and content of that study. There are two types of service hearer studies: Type I service auditor’s study is a study merely on the description and design of controls at a service organisation. Type 2 service auditor’s study is a study on the description. design. and runing effectivity of controls at a service organisation When executing hazard assessment the hearer should execute the undermentioned processs to guarantee that the service organisation’s controls are runing efficaciously: †¢ Obtain a Type 2 study. if available. prepared by hearers of the service administration. †¢ Obtain a sensible confidence study by the service hearer †¢ Perform trials of control at the service administration †¢ Use another hearer to execute trials of control at the service administration on their behalf. If the hearer intends to utilize a study from a service hearer they should execute processs to guarantee they are satisfied with the competency and independency of the service hearer and that the service auditor’s study provides sufficient appropriate grounds about the effectivity of controls. ISA 620 – USING THE WORK OF AN EXPERT â€Å"Expert† means a individual or house possessing particular accomplishment. cognition and experience in a peculiar field other than accounting and scrutinizing. An expert may be:( a ) Engaged by the entity ;( B ) Engaged by the hearer ;( degree Celsius ) Employed by the entity ; or( vitamin D ) Employed by the hearer. When the hearer uses the work of an adept employed by the hearer. that work is used in the employee’s capacity as an expert instead than as an helper on the audit. The hearer should obtain sufficient appropriate audit grounds that the range of the expert’s work is equal for the intents of the audit. An expert’s work can be used: †¢ At the planning phase to obtaining an apprehension of the entity and executing farther processs in response to assessed hazards. †¢ During the audit to obtain audit grounds in the signifier of studies. sentiments. ratings and statements of an expert. The hearer needs to measure 4 issues in relation to an expert: 1. Necessity to utilize him2. Competence and objectiveness – is he an employee or a contracted 3rd party. 3. Scope of work of the expert.4. Actual work. See the beginning informations used. premises. methods and consequences. The consistence of the findings with other grounds ; the important premises made ; and the usage and truth of beginning informations. Before utilizing an expert the audit shall hold. in authorship: †¢ The functions and duties of the hearer and the expert †¢ The nature. range and aims of the expert’s work. †¢ The nature. timing and extent of communicating between the two parties. †¢ The demand for the expert to detect confidentiality. Mention to an Expert in the Auditor’s Report 1. When publishing an unqualified study. the hearer should non mention to the work of an expert. Such a mention might be misunderstood to be a making of the auditor’s sentiment or a division of duties. 1. If as a consequence of the work of an expert. the hearer decides to publish a qualified audit study. it may be appropriate to mention to or depict the work of the expert ( including the individuality of the expert and the extent of the expert’s engagement ) . In these fortunes. the hearer would obtain the permission of the expert before doing such a mention. If permission is refused and the hearer believes a mention is necessary. the hearer may necessitate to seek legal advice. 2. If the hearer makes mention to the usage of an expert in the audit study. the hearer the hearer shall bespeak that the mention to the expert does non cut down the auditor’s duty for the sentiment.

Racial and Ethnic Politics in Latin America

The article suggests that despite attempts by some of the Latin American regimes to assimilate the marginalized indigenous societies, the latter are still mainly subjugated culturally and economically.Advertising We will write a custom article sample on Racial and Ethnic Politics in Latin America specifically for you for only $16.05 $11/page Learn More Official anti-racist positions slowly become the norm in Latin America and the integration of indigenous populations through indigenismo was given continental respectability in 1940 at the First Inter-American Indian Conference held in Mexico. (434) The article thus suggests that the underlying reasons towards multicultural democratizing is not driven by the real indigenistas but rather the apologists or racial democrats who just like their predecessors the racist colonialists regard the assimilation of the indigenous people and culture into the mainstream white European ruling class and Mestizos will enha nce nationalism. This has been mainly manifest in Brazil and Mexico who to their credit positively strived to assimilate the indigenous customs into the mainstream society. The article traces the Latin American multiracial model global impact to the unrest in southern Mexico by the Zapatistats or the Zapatista National Liberation Army (EZLN). The revolutionaries consciously linked their movement unto the indigenous people’s social struggle during the formative Mexican revolution. The movement was also closely predisposed to leftist/Marxist ideologies and own indigenous cultural norms forming a global Zapitista network philosophy, to further international union. Zapististas hence integrated their indigenous nationalist cultural demands with contemporary social-political demands that resonated well with many other globally marginalized groups, particularly within their Latin American backyard. The significant themes thus propagated by these groups, including autonomy and libera l aspirations, made them more globally accepted, especially amongst the racially subjugated indigenous groups. The EZLN has also supported critics of economic liberalization linked to social injustice brought about by neo-capitalism that inherently further entrench poverty and despotism amongst the mostly rural-based indigenous communities.Advertising Looking for article on ethnicity studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More The article has also traced the neglect of the Afro-Americans have been predominantly sidelined even as other marginalized communities made large strides, particularly in Bolivia, Mexico and Venezuela. The descendants of slaves are deprived the prospect to own land, customs and other sovereign rights. They are the most economically and racially deflated group primarily suffering lack of ‘cultural citizenship’. Nonetheless, Brazil, which has the most sizable black population (49 percent), has st rived to integrate the Afro-descendants effectively into the national social-cultural fabric. Other notable migrants are of Arab origin mostly Christians and some Muslims. The article thus suggests dominance and inferiority linked to racial disparities are artificially created to gratify the socio-political agenda of the paramount bloc. Consequently, ethnic and cultural grouping are not confined to or within communities. This article on Racial and Ethnic Politics in Latin America was written and submitted by user JoantheMouse to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Brand Loyalty Essays

Brand Loyalty Essays Brand Loyalty Essay Brand Loyalty Essay One of the major goals of marketing is reaching the brand loyalty phase to a customer. Brand loyalty would be the commitment of a consumer to continue purchasing and supporting the company/brand. Companies benefit from this because they have a constant customer who would spread the word about the company and will be willing to pay higher prices for a certain product or service. Brand Loyalty Most people if not everyone is loyal to a certain brand or service. When a company offers good customer service, a unique product, benefits for purchasing that product and other incentives, etc, a consumer will start leaning to that brand each time they consider purchasing that product. I recently asked my husband about any brands he considered to be loyal to, he told me that Apple/ Macintosh is one of his favorite electronics brand. Things that attracted him and held him to this brand were their original designs/looks, great customer service, dependability, and frequent innovations. In 1976 Apple Computer Inc. ame to be in Cupertino, California. Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne. In 2007 they dropped â€Å"Computer† from their name because of their expansion in electronic products. Since the early days of Apple, they have been known to â€Å"reinvent the wheel† and taking the risk of trying something new and innovative. Apple has always strived to push the limits and to provide more efficient computers, s leeker designs, and products offered by no other company. Apple is also known to be a very environmentally conscious company. Consumers enter into a purchase with certain expectations about a product or a service and satisfaction is the hoped-for-outcome. Those expectations are based on (1) Past buying experience, (2) Brand connotations, (3) Word-of-mouth, (4) The firm’s promotional material and communication, (6) Individual persuability and perceptual distortion, and (7) Price. In this context, brand loyalty occurs as a result of customer satisfaction because consumers commit to a certain brand based on favorable attitudes and behavioral responses. Behavioral and Attitudinal brand loyalty: Brand loyalty can be classified into two broad categories:   a) Behavioral brand loyalty is measured by the ratio of the times that a repeated purchase occurs over total purchases. This measurement of proportion of purchases includes cognitive, affective and co native features, which imply an indirect relationship between brand loyalty and customer satisfaction. In other words, considerations of customers perceptions about a brand can make or break a firm’s branding strategy in the context of repetitive purchases when measuring brand loyalty levels. ) Attitudinal brand loyalty holds that brand loyalty involves a favorable attitude which reflects a preference or commitment expressed over time. This argument implies that consumers like the particular firm more than its competitors and therefore they express a favorable preference over the firm’s products or services. Both behavioral and attitudinal brand loyalty consider that consumer have developed a feeling of favorab le attitudes towards the organization and therefore they engage in repeat purchases. However, marketing studies hold that, often, repeat purchases occur as a result of convenience or lack of alternatives bearing no intentional component. Factors influencing brand loyalty: It has been suggested that loyalty includes some degree of pre-dispositional commitment toward a brand. Brand loyalty is viewed as multidimensional construct. It is determined by several distinct psychological processes and it entails multivariate measurements. Customers perceived value, brand trust, customers satisfaction, repeat purchase behavior, and commitment are found to be the key influencing factors of brand loyalty. Commitment and repeated purchase behavior are considered as necessary conditions for brand loyalty followed by perceived value, satisfaction, and brand trust. Fred Reichheld, one of the most influential writers on brand loyalty, claimed that enhancing customer loyalty could have dramatic effects on profitability. Among the benefits from brand loyalty. Specifically, longer tenure or staying as a customer for longer was said to be lower sensitivity to price. This claim had not been empirically tested until recently. Recent research found evidence that longer-term customers were indeed less sensitive to price increases. Benefits of brand loyalty: The benefits of brand loyalty for a firm are numerous. First of all, loyal customers are less price- sensitive, which means that they are ready to pay a higher price, if required, in order to acquire the product or service. As a result, apart from higher profitability for the firm, the cost incurred for pursuing new customers is reduced. Loyal customers are also strong advocates of the firm playing a powerful role in the decision making process of other people. The word-of-mouth advertisement is a strong marketing tool that improves the firm’s reputation and brings certainty to the firm by enlarging its customer base. In addition, loyal customer expose higher tolerance for mistakes, are willing to provide feedback for any unfulfilled needs, to try additional products and to offer a higher share of wallet. In todays highly competitive environments, improving consumers loyalty to brands permits marketers to maintain a comfortable and lasting position in the marketplace. The issue of brand loyalty has been examined at great length. Branding is by far one of the most important factors influencing an items success or failure in the marketplace, and can have a dramatic impact on how the company behind the brand is perceived by the buying public. In other words, the brand is not just a representation of a companys product; it is a symbol of  the company itself, and that is where the core of brand loyalty lies. Therefore, a strong brand is more than just a name; it is a promise that can be trusted.

Experimental economics summary paper Essay Example | Topics and Well Written Essays - 500 words - 1

Experimental economics summary paper - Essay Example Main Findings The article specifically showed that reciprocity is achieved when trust has been developed through personal and social interaction. This was identified in the experiment using the concept of investment game. The belief that self-interest can substantially explain how an individual may behave from an economic standpoint was challenged and proved to be insufficient to give explanation in understanding human behavior in the economic context (Berg, Dickhaut, & McCabe 137). The concept of trust and reciprocity was found to be dominating in the investment game which implies that individuals try to develop relationship and are willing to give up self-interested motives. The whole point of this is that an individual wants to continue harmonious relationship and aim for stability in order to be treated with fairness and equality in the long run. Another important justification and which could also stand as another important result is the inclusion of social norm as the basis of decision of an individual to go for trust and reciprocity (Berg, Dickhaut, & McCabe 132).

Nobel prize winner Franco Modigliani Essay Example | Topics and Well Written Essays - 1250 words

Nobel prize winner Franco Modigliani - Essay Example Instead, he opted to study law because that was the most famous field of education during that time in Italy. While studying law, he won first prize in an essay competition that was on economics; and this laid foundation for him to pursue economics in future. However, he had known that economics would not provide much opportunity for him in Europe because of fascist movements. Modigliani left Italy because of the fascist movements and the pact between Hitler and Stalin. From Rome, he moved to Paris and then to the United States just before the World War II began. He left for the United States to pursue his studies on Economics after realizing that his efforts in Europe would be futile due to political turmoil. He joined the New School for Social Research in New York that provided him the scholarship to study. There, he completed his PhD in social science in 1944 and worked as assistant professor in mathematical economics and econometrics in 1946. Between 1946 and 1960 he was associat ed with University of Chicago, University of Illinois, Carnegie Institute, Harvard University and Northwestern University. In 1948, he was awarded the Political Economy Fellowship of the University of Chicago. ... iting professor, Modigliani also worked on various other important and futuristic aspects of international finance, international payment system, impact of inflation, into various fields of finance such as credit rationing, the term structure of interest rates and the valuation of speculative assets. Modigliani, along with his student Richard Brumberg in 1954, formulated the life-cycle hypothesis of saving that was later developed by Modigliani and Albert Ando in 1963 with the use of many empirical studies. Modigliani’s work on this hypothesis was revisited again in 1980. This hypothesis debates upon Maynard Keynes’ General Theory or the consumption theory that directly relates current consumption with current income. Contrary to Keynesian theory, the life-cycle theory postulates that individual consumption in any time period depends on: resources available to the individual; the rate of return on his capital; and the age of the individual (Dwivedi, 159-160). On broader level, this hypothesis relates to the national economy in the way that national saving is directly linked with national income and mass of national wealth will be in proportion with the length of life span of working. This hypothesis made along with Brumberg was not empirically proven, and hence did not gain significance until Modigliani proved this hypothesis along with Ando and other associates. Modigliani’s hypothesized that in general, individuals tend to keep their expenditure and lifestyle constant, irrespective of their varying levels of income. This means, individuals tend to save more money when their earnings are higher and save less when their earnings drop. When their income is higher, they tend to spend more without assessing potential risks in future to their incomes; however, if

Entry Mode in the Chinese Car Industry Essay Example | Topics and Well Written Essays - 6500 words

Entry Mode in the Chinese Car Industry - Essay Example As more and more manufacturing companies, operating internationally, face heavy domestic and global pressure and make increasing Foreign Direct Investment (FDI) abroad, the research of the entry mode decision has caught the attention of managers and academic scholars. In this regard, many theories, which identify and focus on diversified variables that influence the entry mode decision, have been developed. After several years of continuous growth, China is now the fourth-largest automobile market in the world next to U.S., Japan and Germany. Even the development continues at just half its current pace, there is a possibility that China could leap into second place in 3-5 years. Automobile executives, facing flat or falling sales in their home markets, predict that China will become their biggest market on the next decade. Thus competitions in the Chinese car market will become tough, which will eventually mark down automobile prices to a rational level and extend competition in price, quality and after-sale service. Since there is an increase in the number of wealthy Chinese yearly and that the recent statistics reveals that Chinese private citizens have overtaken the government in the purchased of car units, automobile giants both at home and abroad look at the Chinese car market as their prospect. ... Probably the mounting of sales is attributed to the car loan offerings of banks, series of price cuts for homemade cars promoted by a tariff cut in January and the construction of additional roads. There is immense untapped growth potential in China's automobile market. According to government statistics, last year car ownership was only 1.5 units per 1,000 persons over the global average of more than 90 units. Besides, statistics also reveal that in the next five years about 32% of China's urban residents intend to buy a car. These results bode well for car marketers both in China and abroad. Giant global automobile industries now are either responding with vast investment or reforming models like mini cars that most fit the Chinese family use. Following Volkswagen and Citroen, almost all of major car manufactures, such as General Motors, Ford Motor, Honda, Fiat, Toyota and Mazda, made investments in joint ventures with Chinese carmakers successively thus intensifying competition for market shares. Unlike the international automobile giants, China's automobile industry is fragmented. Of the 118 car manufactures in China, most are small, whereas its top five manufacturers produced 37 percent of total output in 2001. However, with the current low labor cost which is only one-twentieth and one-thirtieth of that in Japan, the government labeled China as a "pillar industry" that has great room for development. But still it is expected to be a difficult process and the need for Chinese government restructure the industry is yet to realize. With the commitments to the WTO in 2003, China has agreed to implement another round of tariff cuts for automobiles before ultimately reducing the tariff level for automobiles to 25 percent by 2006. Besides, China is also

Pantaloons Retail India Limited

Pantaloons Retail India Limited Future Group focuses most in the retail segment and most of its businesses are built around the same. Future Groups retail network operates 1,000 stores for more than 200 million Indians in 73 cities and 65 rural locations across the country in 16 million square feet of retail space. Some of the most popular retail chains of India like Pantaloons (chain of fashion destinations), Big Bazaar (hypermarket chain), Food Bazaar (supermarket chain) and Central (chain of seamless destination malls) Brand Factory, Planet Sports, ALL, Top 10 and Star and Sitara are managed by Future group. Indias most popular online shopping portal www.futurebazaar.com is also owned by the Future Group. Home building and home improvement products and services are also led through the groups formats, like the Home Town (large-format home solutions store), Collection i (formats specialized for home furniture and home furnishing) and Furniture Bazaar and consumer electronics through eZone and Electronics Bazaar. Aadhaar, Indias leading rural retailing chain has a presence in more than 65 rural locations. It acts as a complete solution provider for the Indian farmer. Pantaloons Retail India Limited Pantaloon Retail (India) Limited is one of the leading retailers in India. Mr. Kishore Biyani, is the founder and is famously known as Indias King of Retail. Pantaloon has revolutionized the retail fraternity. With its headquarter in Mumbai, Pantaloons operates multiple retail formats in value and lifestyle segment. Pantaloons plans to increase its retail space to 30 million sq. ft. by 2011. PRIL is sub-divided into: Pantaloons Big bazaar Food Bazaar Fashion Station All Blue sky E-zone Collection 1 Home town Central Mall 2001 Indias first hypermarket chain Big bazaar is launched 2002 Food bazaar, a supermarket chain is launched 2006 Future groups financial arm, Future capital holdings launches two real estate funds Pantaloons High fashion family department, geared toward Indian middle and upper classes. In 2005, pantaloons rolled out a new merchandise and brand communication campaign to position itself as fashion trendsetter appeal to Indias youth. Central Mall It is positioned as a place for shopping, eat and enjoying. Big Bazaar Big Bazaar hypermarket concept was started in 2007 by PRIL. It was designed to integrate elements of an Indian bazaar with recent retailing features like parking of vehicles, AC shopping environment and privilege of replacing merchandise. Food Bazaar The first outlet of Food Bazaar opened in June 2002, within a Big Bazaar store, six month later the chain had grown to 42 outlets: 18 stand alone. Future Groups main businesses are : E-commerce Futurebazaar.com, Pantaloons website has changed the e-commerce business in India. A wide range of products are made available at affordable prices. PC World has named the website as the Best Indian Website for 2007 in the Shopping category. Food In the food section, a lot of options are available like Food Bazaar Chain of large super markets Brew Bar Its a beer bar Cafà © Bollywood -Its a eateries chain which is PAN India Chamosa Snack counter Sports Bar A Bistro which is dedicated to the sports world Fashion Varieties of options are available in this section like Top 10, Central, Blue Sky, Etam, Fashion Station, Gini, Jony, Navaras and ALL. Home Electronics Furniture store called Collection i Electronic goods and appliances store called Electronics Bazaar Electronics Items store called e-zone Home furniture store called Furniture Bazaar One destination for all home needs called Home Town Leisure Entertainment A family entertainment center called Bowling Co. A store offering gaming options from bowling, pool, video games to bumper cars called F 123 Wellness Beauty Health Village Its a yoga center as well a spa Star Sitara: A beauty salon for men and women Tulsi Allopathic, homeopathic and ayurvedic medicinal products are provided Turmeric Beauty products like colour cosmetics, fragrances, herbal and specialty skin items, hair products and bath accessories are offered. Books Music Depot It offers stationary, CDs and books Major Achievements of Pantaloon Retail 2007 International Retailer of the Year 2007 Emerging market Retailer of the Year 2007 According to Hewitt Best Employers Survey Best Employers in India (Rank 14th) 2006 Best Managed Company in India (Mid-cap) for the year 2006 Image Retail Awards for Best Value Retail Store, Best Retail Destination, and Best Food Grocery Store. Retail Black Hole Model The Black hole model is also known as The Retail EST Model. It was developed by J.C Williams Group. According to this model a retailer can win if he is the best in one of the several retail offerings i.e to say that the company is clearly positioned in one or more preferred locations to win and hence they are the strategic differentiators. The losers gravitate to central position, are not best at anything and are sucked into the black hole of retailing We have a store opening virtually every fortnight; I have lost count now of how many I have opened Kishore Biyani Big Bazaar A paradigm shift to the Modern Retail Big Bazaar is a unit of Pantaloon Retail (India) Ltd and caters to the Great Indian Middle Class. It is like an Indian bazaar or mandi or mela, the environment created by traders to give shoppers a sense of moment. The personality of big bazaar is one of an entity being authentically no-frills. The personality of the brand is self expressed by its tagline Is se sasta aur accha kahin nahi It sells a variety of merchandise at affordable rates, the prices of which it claims are lowest in the city. Usually the items are clubbed together for offers as on the lines of Wal-Mart and Carrefour, offer weekend discounts and works on the same economy model as Wal-Mart and has considerable success in many Indian cities and small towns. Food Bazaar format was added as Shop-In-Shop within Big Bazaar in the year 2002. Big Bazaar and Food Bazaar blend the look, feel and touch of Indian Bazaar with modern retail concepts of choice, convenience and quality. PRODUCT MIX TARGET AUDIENCE Higher and upper middle class customers are the target segment of Big bazaar. Another preferred customer segment is the young and growing population of the country. Big bazaar primarily targets the women folk and home makers who they feel are the primary decision makers. CORE COMPETENCIES Product range consisting of more than 20,000 products. Has a strong supply chain spanning one thousand five hundred cities and towns in India. Big bazaar has tie ups with world leaders in logistical services. Big bazaar has created a helpline for solving the queries of customers. Offers manufacturers guarantee as opposed to sellers guarantee. Good quality at reasonable cost. STRATEGIES: Minimize retailing cost. Minimize operating expenses by employing fewer floor staff -single person for every 500 sq ft. Keep furniture cost to minimum. Cut down expenses related to sourcing by almost 25-30%. Increasing the overall efficiency of logistics by creating mother-hubs all across India for the purpose of sourcing products from regional/local vendors. Slashing channel cost by up to 25%. Economizing Shelf Space Dealing with unsold stock in an effective manner. Ensuring enough pull to snatch away customers from the neighbourhood. Introducing the concept of todays price wherein a products is chosen on a daily basis and sold at lower than usual price. Big Bazaars New Marketing Strategy: A new marketing strategy, based on guerrilla marketing has been launched by big bazaar. The guerrilla force is divided into small groups to selectively attack the target at its weak points. As a part of this strategy Future group has come up with three catchy and cocky advertisement campaigns. Keep West-a-Side. Make a smart choice! Shoppers! Stop. Make a smart choice! Change Your Lifestyle. Make a smart choice! STRATEGIC ANALYSIS SWOT analysis of Big Bazaar PEST ANALYSIS Political and Legal Factors: A stable government at the centre creates an encouraging investment climate Problems of getting subsidy from Octrai and on different taxes like land, water taxes A less complicated taxation structure(GST) on the horizon. Problems regarding taking over properties and real estate. Easing restrictions on FDI by the government leading to easier import of foreign consumer goods, thereby bringing variety to the Indian market place. Economical: India is one of the fastest growing economies, next only to China (7-7.5% GDP growth rate). Retail Industry to grow leaps and bounds by 2015 due to the consumption driven economy of the country. Increase in the percentage contribution of the service sector to GDP. Increased emphasis on infrastructural growth in the current 5 year plan will help reduce some of the bottlenecks in the retail segment. Socio-Cultural Factors: Increase in Nuclear families Increase in working womens proposition Life style changes Shift in Product and service preferences Increase in Young population giving the country a demographic advantage Technological: Technological development for fast billing and the service Better applications of information technology in the modern retail industry, like in supply chain management, store management, point of sale and customer relationship management Porters Five Forces Model 7 P Analysis of Big Bazaar Product There is a wide range of products on offer at Big-bazaar, ranging from apparels, food, farm products, furniture, child care, toys, etc. Products of all the major brands are available at Big Bazaar. A lot of in house brands (private labels) are also promoted by Big Bazaar. Price The tag-line of Big Bazaar is Is se sasta aur accha aur kahin nahi. The model on which Big bazaar works is one of economies of scale. Maximum Market Share (market penetration pricing) is the major objective of pricing at Big bazaar. Place Big-bazaar has a pan India presence with more than seventy-five outlets spread across fifty cities. Big Bazaar has presence in almost all the major Indian cities. Kishore Biyani is very aggressive when it comes to expansion plans of Big bazaar. As per Biyani, the cost of real estate should preferably be less than 5% of total sales of store if one wants to provide maximum benefit to customers. Securing spaces before other retailers join in has been a strategic decision of Big bazaar which has resulted in cost-saving. Promotion Many novel cross sell and upsell strategies have been developed by Big bazaar in Indian retail market. Big Bazaar uses various promotional techniques such as saal ke sabse saste teen din, Future card, Shakti card, using M.S.Dhoni as brand ambassador, Exchange offers such as junk swap offer, POP promotions. Print media, TV, Radio (FM) and road-side bill-boards are some of the many means used by Big bazaar for advertizing and effective communication. People People are considered to be one of the key assets in any organization and their importance is even more profound in the service sector. Big bazaars staff possesses some salient features such as: The staff is well trained for modern retail. Innovative thinking among the employees is encouraged at Big bazaar. Multiple payment counters, availability of stores staff for keeping baggage and presence of security guard at every gate. Process Some of the salient features of dispatch and purchasing area of goods include : Trolleys are available for carrying purchased items sufficient nos of counters for easy check-out are present. Information hoardings/banners for efficient identification of items at store Physical Evidence It deals with the final deliverable or the exhibit of written facts. The staff has standardized dress code to improve the overall appearance of the store (atmospherics). FINANCIAL ANALYSIS of PRIL PRIL Profit and Loss Statement Interpretation Total revenues have constantly been on the rise. This is partly due to the increasing sales resulting from aggressive expansion plans (opening up of outlets) of PRIL. PAT has also been on steady rise though it has flattened a bit in recent years probably due to higher operating costs, inability to transfer the increased cost to the customer etc. EPS has also been on a steady rise apart from a single occasion in 2007 when it went down. The reason could be a rights issue or other similar action leading to equity dilution. The return on capital employed has been decreasing YoY. This could because of concern for the company. The debt equity ratio has not been too volatile and has always been below 2 which is an indication of sound financial status of the company. Aggressive Marketing: Promotions The promotional activity of the company, which says Nobody Sells Cheaper and Better! has differentiated Big-Bazaar (as a brand) in the minds of the customer. The punch-line has made its place in minds of customer. As the competition is becoming stiff in the market the activities conducted by the company are unique, that have brought fruitful result to the company. Among them sales Promotions is one of the leading activity or unique among all other activities has high influence on the customer walk-in. As sales promotions is the major force for Big-Bazaar, Big Bazaar take it very seriously especially during festivals special occasions by focussing aggressively on psychological emotional promotion strategies as per the demographic profile of the various consumers. About 60-70% of shopping for apparel, consumer durables, and home furnishing, among other things, happen during festivals. At least 40-50% takes place during the peak festival season, between September and November. According to Ashni Biyani, 23, a team is set up six months ago comprising experts on Indian mythology and religion, retail and even an expert on days, seriously targeted one-third of the 150 auspicious days in the Hindu calendar. They map all the communities in India on how they shop and how these calendars work. They focus to understand intuitively, their customs, their rituals, adding that this is the part of a larger strategy to engage customers and to attract that India which lives in the deep-rooted communities. Sabse Saste 3 Din: The best watershed for brand Big Bazaar was the introduction of the Sabse Sasta Din in January 2005, when the Indian Republic Day holiday was utilized to make sure that hordes of consumers descended on all Big Bazaars across the country to buy all kinds of household items cheap. There were scenes of customers actually vigorously fighting over items in-store long queues were seen in the store. Big Bazaar like previous years, attracted large crowds during its three day sales event called Sabse Saste 3 Din organised to celebrate the Republic Day. Depending on the results, the event is sometimes extended to 5-6 days as it happened in 2008. The promotional event being organised by Big Bazaar every year has assumed great significance over the years. A large number of customers look forward to this event as hefty discounts on a range of products are offered to the customers in partnership with the retail chains vendors on this occasion. This is, perhaps, the biggest sales event being organised by any retailer in the country. Big Bazaar, which sold merchandise worth Rs 140 crores in 2007, garnered revenues of over Rs. 280 crores during the year 2008 the growth still continues unexpectedly. As mentioned by Kishore Biyani, the whole focus is low margins pushing volumes aggressively during these times which make the Big-Bazaar stick to its core Brand-Personality. Wednesday and Weekend Bazaar: One of the most popular events Wednesday Bazaar presents terrific offers and irresistible discounts on majority of the products. The Concept was to aim at giving the homemakers the power to save the most on this day of the week. Even on weekends when the footfall is the highest, eye-catching offers and discounts are promoted. The weekend promotions differentiated from the Wednesday bazaar in terms of the offers cross-selling and not on reducing the price of a particular product. This way they were able to differentiate both the concepts focus on avoiding confusion while promoting it to the consumers and also attract different type of consumers during these durations. Special event promotions: Maha Bachat Sale: Big Bazaars incorporates such as on Independence day by having Maha Bachat Sale which did a business of 1.5 crores in its Bangalore store alone. Maha Bachat focuses on further reducing the price as compared to the Wednesday Bazaar. Also on auspicious occasions such as Akshaya Tritiya which again did a business of 150Cr on a single day in Mumbai Ahmedabad last year. An event offering discounts, benefits and privileges to senior citizens were created and promoted on the Senior Citizens Day. Monthly Bachat Bazaar: Big Bazaar understands clearly the habits of Indian consumers. In Monthly Bachat Bazaar the prices are reduced at the start of every month in order to target those consumers who bulk purchase the products and especially the commodities every month. Price Challenge Campaign: Reinforcing Big Bazaars USP of value proposition, Is se sasta aur accha kahin nahi scheme was launched. The challenges promise to offer twice the price difference, if the cost of any of the item found in the store is found to be higher than the market price. This doesnt mean that the consumer actually go to other shops in order to compare the prices, but due to this challenge of Big-Bazaar, the consumers had more faith trust on the Big-Bazaar and hence were confident seeing the confidence level of Big-Bazaar which again built a strong brand differentiation of Big-Bazaar for low pricing. Exchange Offers: This promotion primarily focused on letting people disposing off their junk and to gain something out of it in return i.e. Bring anything old take anything new. They could exchange their products and shop from a huge spectrum of discounted products. This gave the motivation factor to consumers to give their old belongings for something worth hence their old is not getting waste or is unvalued. Since the Indian consumers are very much value conscious, this strategy worked out very well. Big-Bazaar also made it sure that the campaign is actually not fooling the consumers around and is actually giving the desired value focusing on the fact that faith thrashed is never recovered in India. In- Store Communications: To ensure that no one misses out on an opportunity to gain from special offers, service boys ferry around a trolley with the product inside, announcing the scheme. Not only is this entertaining it also helps customers pick up the product from the trolley instead of walking up to the rack where it is on display. Language Customization: To make sure that non-English speaking customers dont feel alienated, the communication is also conducted in the local language. The communication is always unambiguous and direct. The Power of One Campaign: This initiative encourages customers to add One Rupee to their bill towards donation to a social cause. Big Bazaar makes an equal contribution and donates the entire proceeds to an NGO called Save the Children India. This is a selfless body which has been working for the welfare of children from marginalized sections of society. Corporate campaign: Big Bazaar has recently launched a corporate campaign which revolves around a family having a great time together. The brand anthem Khushiyon se Bhari Jholi connects with the customers at an emotional level positioning Big Bazaar as part of the happy moments. Future Cards: Specifically for Big Bazaar outlets these credit-cum-loyalty card which offer customers a slew of discounts and benefits across Future Group stores are co-branded with ICICI Bank. Customers receive four loyalty points for every Rs 100 spent at Future groups retail stores and one loyalty point for every Rs 200 spent outside the groups retail stores. This creates a vicious cycle for the customers to repeat their purchases and is especially done by the consumers during special occasions. School Jao Khushi Khushi Providing Discounts School related requirements accessories like school bags, water bottles, lunchboxes, shoes etc. Promotions include: Pencil Case for purchase of above Rs 500. Free shopping trip worth Rs 1000/- for Sending ones experience of the Best day that you had in school the most humorous the best one is selected as a winner and to avail the offer. Lucky draw for the lucky kids shop for Rs 1,000 above, drop in your kids name into the drop box 10 lucky kids were provided with the offer 30% off on an NIIT course Motivational offer for Kids: Shop for Rs 500 or above, Parents are told to drop in the kids painting, the best painting is sponsored for an art course. Doston ke saath khushiyon manao Individual are invited with friends more the merrier shopping with 1 friend entitles the individual with 10% discount, coming with two friends get 20% discount etc on the total bill. Friendship band to every walk-in A friend indeed -people were told to drop their best friends name in the drop-box and in lucky draw the winner could win the major prize A Car!! Special treatment emotional connect for the individual his/her friend -free massage, tattoos, horoscope etc were provided for purchases above Rs 500/- above during the friendship day. Diwali Dhamaka: This campaign especially remains open for longer duration Huge discounts are seen over the board If purchase is above Rs 300/- two pairs of diya were provided to the customers Tie up with known mithaiwala: if one purchases above 1000/- people can avail discounts of 45% or above on the mithai purchased from that mithaiwala. Motivating the home made mithai recepies: Purchasing goods worth Rs 500 above, females were pulled to send the recipe of their secret mithai the best judged recipe gets a complete set of Sanjeev Kapoors cook-books Diwali Manao Abroad winning through lucky draw on purchases worth Rs 1,000 or above. Christmas Joy: Across the board discounts. Big Bazaars special surprise Christmas gift on purchase of over Rs 1000/- or above. Christmas-Card Design Contest: Design next years Christmas card for children and a gift voucher worth Rs. 500 were given to the best card winner. Big Bazaar Christmas party focussing on points vouchers through festival focussed games. Happy-Hours: All the discounts/offers were hiked up in a fixed hr of a day eg: Buy X and get Rs 10 off on that day will become Rs 15 off. Mystery-Shopper: Everyday, one person is tagged as the mystery shopper i.e. a) 100th person walking through the door wearing all red b) 1st person walking through the door wearing all red These person gets the discount of 50% on the total bill. Apke kismat mein hai khushi: Lucky is happy Based on scratch card Get all that you pick in 60 seconds till reaching the billing counter Assured gift for the bulk takers: Choose a gift from the listed items if the bill is above 1000/- This is used especially to push the non-moving goods which is usually put in the listed free gift items. Banto khushiyan har ek ke sang: Social causes Khilone se khushi bate Toy drop box was set in the big-bazaar store and the concept was promoted to ask for the toys from the families then the toys were sent to the social organisations working for underprivileged childrens. This has helped the underprivileged, generate goodwill, and have also attracted the floor traffic to store at the large scale. Supporting a charity Support through charity: Donation to the charity on the individuals name for purchasing above a specified amount. Customers were given an ornament with his or her name on it to hang signifying the donation by the individual. Advertisements: Advertising for Big-Bazaar is an essential component of brand building. The advertisement focusing on brand building of Big-Bazaar is done through various ways, Some of the techniques applied are: Tag Line: One of the key components of Big Bazaar is its Tag Lines. Designed according to the demographic profile of customers in order to get connected easily with simple one-liners. The catch liners includes Chane ke bhaw kaaju, Stall ke bhaw balcony etc. Holistic Advertisement: Promotes the brand and creates awareness among people. It is not targeted at promoting each store but only creates an image of Big-Bazaar as low-cost shopping option. The store has advertised through TV, road-shows and also started reality show typed promotional campaign The Big Bazaar Challenge Promotions like Sabse Sasta Din is very successful strategy to get footfall. Print-Ads: Just before the launch of any new schemes Big-Bazaar spends heavily on advertisements in print media especially newspapers. This is done in order to create a buzz about the big-bazaar brand its upcoming schemes. TV-Ads: various channels are utilized properly, also as per the demographics cultural channels the schemes, promotions especially the common brand tag-line is aired in order to create top of the mind awareness Road side Advertisements: As a brand building exercise, big-bazaar displays bill-boards in prime locations as per the target people. Focus is more on the phrases which is targeted to the needs of the customers as per the market conditions at that particular point of time. Radio-Ads: The major focus through radio ads is in Tier-12 cities. And the prime emphasis is given on radio ads for promotions in order to inform customers for all the new happenings schemes at Big-Bazaar. Fashion-Shows: The latest innovation of the Indian iconic brand is FASHION @ BIG BAZAAR Desh Badla, Bhesh Badlo. In order to make an effort to take the Fashion to the masses, a three-day fashion show was organized by Big-Bazaar on the streets of Bandra, Mumbai. Brand Endorsement by Celebrity: For marketing and advertising its brand name, value endorsement co-branding is used by Big Bazaar. Earlier Himesh Reshammiya Sanath Jaisuriya was associated with Big-Bazaar. Also, recently the current campaigns are being associated promoted with the Indian cricket ODI captain Mahendra Singh Dhoni. Communication through Media: Heavy spending is carried out for proper position of Big Bazaar through the different mediums. Paper advertisements are released just before the launch of any new scheme, billboards are displayed on prime locations, frequent TVCs are aired in prime time in various Indian channels for the mass, advertisements on FM channels about the current happenings are aired etc. Below the Line Promotion: Coupon, discount, more of the product at normal price, gift with purchase, competition, and prizes, money back offer, exchange offer, special occasion. Big Bazaar, in association with Star India Pvt Ltd, has launched a collection of designer ethnic wear under the brand Star Parivaar. Above the Line Promotion: Advertisements in Newspaper, TV, Internet (own website which give online shopping service), Partnership with Bigfilx, Big FM 92.7. Aggressive Pricing Strategy The tag-line is Is se Sasta aur accha aur kahin nahi make Big-Bazaar to differentiate itself from competitors in terms of only pricing the value at that price. Hence it makes it very important for the Big-Bazaar to always focus on the its pricing strategies to keep the prices always low compared to the competitors whatever the market, economy or the external conditions is. They work on the model of economics of scale. There pricing objective is to get Maximum Market Share. The various pricing techniques used at Big Bazaar are: EDLP Every Day Low Pricing: Big-Bazaar as a brand is differentiated through low pricing strategies. Hence it promises delivers the lowest available price without stressing on coupon clipping, discount promotions waiting time, or comparison shopping. Promotional-Pricing: Low interest rate financing is being offered by Big-Bazaar. Psychological discounting (Rs. 99, Rs. 49, etc.) strategy is used as a promotional tool. Special Event pricing (Close to Diwali, Gudi Padva, and Durga Pooja) is also the prime focus of big-bazaar for the reasons mentioned in the previous topic. Value-Pricing: Big-Bazaar sets selling prices on the perceived value to the customer, rather than on the actual cost of the product, the market price, competitors prices, or the historical price. Differentiated Pricing: Also termed as Time pricing, i.e. difference in rate based on peak and non-peak hours or days of shopping. This again as a pricing technique is used in Indian retail, hence aggressively used by Big Bazaar. Psychological Pricing: In order to attract status-conscious customers and also to push status-consciousness among the middle-class people, psychological pricing concept was undertaken by Big-Bazaar which provided the best deal in the market for the products which are market-buzz-creators and highly engaging long-lasting products such as LCD TVs, Washing Machines etc. Bundling: In

Old Man And The Sea :: essays research papers

In life, one will go through a number of stages in life. Infancy, Youth , Adulthood, and Old Age are all key stages. As one grows, they mature through these various stages. When one reaches old age, there is often a lot of doubt surrounding their lives. Serenity, and independence are often the two most questioned. These are some questions that Santiago has to ask himself as well.   Ã‚  Ã‚  Ã‚  Ã‚  In the novel The Old Man And The Sea, Ernest Hemingway develops the concept of man coming to the realization that as he ages, his dependency on others will increase. The use of metaphor is key in showing how this is indeed true. The struggle with the Tiburon represents the mental struggle that Santiago is having with himself. The Tiburon is also used as a metaphor for Santiago’s life. The boy in the story parallels what Santiago’s life once was.   Ã‚  Ã‚  Ã‚  Ã‚  The struggle with the Tiburon represents the struggle that Santiago is having with himself. The constant struggle makes Santiago realize that he is no longer as young as he thinks he is and he must rely on the help of others. This is shown when Santiago is battling the Tiburon. “ ‘Bad news for you fish’, he said and shifted the line over the sacks that covered his shoulders. He was comfortable, but suffering, although he did not admit to the suffering at all. ‘ I am not religious...but I will say Ten Hail Marys that I should catch this fish’... ‘Hail Mary full of Grace the Lord is with thee. Blessed art thou among women and blessed is the fruit of thy womb, Jesus. Holy Mary, Mother of God pray for us sinners now and at the hour of death, Amen.’ Then he added. ‘ Blessed Virgin, pray for the death of this fish, wonderful as he is.’ '; [ Hemingway 64-65]   Ã‚  Ã‚  Ã‚  Ã‚  This quote shows that the old man is forced to break the rules of sanity and talks to himself as well as the fish which cannot hear him. The old man thinks to himself that the fish is a “ “ God fearing '; fish and by saying the Hail Mary, the fish will give in and let himself be caught. After saying the Hail Mary the Old Man tries to convince himself that his previously hurt hand is okay, when really it is not.   Ã‚  Ã‚  Ã‚  Ã‚  In another part of the story Santiago admits that he is losing his sanity. “He did not want to look at the fish. He knew that half of him had been destroyed '; [Hemingway 114].