Essay about Sociology Cultural Interview - 1217 Words

Culture Interview: South Africa Andre Ebbinkhuysen is the subject of my culture interview. I chose him because I was interested in learning more about the South African culture and its history. We met at McDonalds on South College Road on Friday, June 10th at 11:00 am and interviewed for about an hour. I felt very comfortable interviewing him, as we share a secondary group at Cape Fear Community College, sitting right next to each other in our Sociology class. I feel I know him better than a stranger I would have tried to approach for this interview. Andre was born in South Africa. He has now been living in the United States for about 11 years. He moved here alone as a professional rugby player, and was offered a job to move and play†¦show more content†¦The only ones who had central heat and air were the rich. Mostly everyone has access to clean water resources. The interest rate to buy a home is between 17% to 24%. That is outrageous compared to America today! The taxes are also astronomical compared to the United States. The pay in South Africa is always in salaries, never hourly. The unemployment rate is around 29%, thus making the crime rate out of control. There is a hijacking approximately every two minutes. There are speed limits, but no one obeys them. This may be the reason car accidents in South Africa are way higher than in the United States. All of the cars in South Africa have a manual transmission (stick shift); there are no automatics. South Africa’s largest sport is rugby. They will have grand festivals before and after each big game. Instead of baseball, they play cricket. Hunting is also a big sport in South Africa; some of the game they hunt include deer, which are described to be enormous compared to the deer in the United States, rhino, and buffalo. On some highways you will see wild animals strolling down the side and across the roads, including lions, leopards, rhinos, elephants and buffalo. I could not imagine seeing wildlife like that in our everyday surroundings! Lions, leopards and elephant are of course, illegal to hunt. They also celebrate Woodstock, just as we do in the US. The seasons in South Africa are the opposite as they are in the United States. They do have allShow MoreRelatedWhy An Independent Variable Affects A Dependent Variable888 Words   |  4 Pages Surveys and Experiments, Longitudinal studies, are two significant methods of research used in Sociology. First, the Survey method, a primary research method, studies a larger, broader population of sociology (Bryant, L. (2014), (Census). For this survey method, experimenter choose the subject and questions needed for the collection of data. The advantage of this method involves a faster evaluation period and is inexpensive. However, the disadvantage of this method is the interviewers inabilityRead MoreGlt1 Task 4 Essay946 Words   |  4 PagesResearch Methods in Sociology and Anthropology By Western Governors University Abstract Sociology and Anthropology rely upon investigational and research techniques. While some of these may be similar they also differ. Each discipline has its own philosophical justification for their method but any and all approaches to study the society’s culture require some degree of fieldwork. Read More Sociology vs. Cultural Anthropology Essay939 Words   |  4 Pages The research methods in sociology and anthropology are similar yet follow a specific set of guidelines for each. Each field approaches research in a similar fashion but the methodology and intentions can differ. The differences reflect the distinct differences that are present in sociology and anthropology. 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It becomes field of study because people started to observe a lot of things on a society such as: inequality, discrimination, poornessRead MoreInterview Paper : Influence Of Children Essay1702 Words   |  7 PagesRunning head: INTERVIEW PAPER 1 INTERVIEW PAPER 6 Interview Paper: The Influence of Children?s Cultural Background in Education Warapark Maitreephun University of Missouri Interview Paper: The Influence of Children?s Cultural Background in Education Many scholars (e.g. Bourdieu, 1986; Lareau, 1999) agree that children? cultural background influences on schooling and learning, which impacts their life trajectories. In this paper, I explore a Thai adult?s retrospect on his educational experiencesRead MoreDurkheim s Influence On Sociology1240 Words   |  5 PagesMarx, Durkheim, Weber had on sociology as prominent contributors of the discipline. Durkheim and Max Weber, Marx is seen as one of the three founders of the social sciences. Emile Durkheim, was a French sociologist. 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The Sociology of Family is intend to examine family as a unit of socialization, in which it regards to different sociological perspectivesRead MoreThe Goal Of Cultural Studies Scholars, Per Stuart Hall,1082 Words   |  5 PagesThe goal of Cultural Studies scholars, per Stuart Hall, is to â€Å"†¦understand the ensemble of relations between the economic, political, cultural, ideological, and social spheres† (â€Å"The Last Interview†). Hall did not initially believe that Cultural Studies was an autonomous sphere. However, at the time of â€Å"The Last Interview†, Hall acknowledged that culture had largely become an autonomous â€Å"spectre† within the field which, according to him, was never supposed to happen. Nonetheless, despite the difference

Smoking and Second Hand Smoking Essay - 973 Words

Lifestyle is one of the determinants of health. Several factors influence the family lifestyle in UAE such as smoking. Tobacco uses still a great health hazard. It caused death for more than six million people in the world in 2010 (Aden, Karrar, Shafey Al Hosani, 2013). UAE faces a lot of negative effects related to tobacco such as cardiovascular disease which counted by 37.5% of all deaths in the Emirate of Abu Dhabi (Aden, Karrar, Shafey Al Hosani, 2013). Injury can cause mortality and disability. It was the second leading cause of death UAE between 2000 and 2008 which is estimated at 1200 deaths per year. Around 9% of deaths of children was caused by injury from 2000 to 2008 (Loney, Aw, Daniel, Handysides, Ali, Blair, Grivna Shah,†¦show more content†¦It also can increase the risk of cancer, peripheral vascular diseases, and lung cancer. Smokers are at doubled risk for ischemic stroke (Ockene Miller, 1997). Smoking plays a great role in endocrine disorders. It can dec line the rate of fertility in both male and female. It is also associated with insulin resistance (Tweed, Hsia, Lutfy, Friedman, 2012). Indeed, both types of smoking, active and passive smoking can cause serious health problems. Passive smoking is the inhalation of smoke, by persons other than the intended active smoker. It is also known as second hand smoking and it can cause premature death and morbidity. It can cause ischemic heart disease and asthma (Wipflia Sameta, 2011). Second hand smokers are at increased risk for coronary heart disease by approximately 30% (Barnoya Glantz, 2005). Second hand smoking has undesirable harmful impacts on children. It can cause lower respiratory tract infection, asthma, cot death and meningococcal disease. Children are more prone to develop the above mentioned diseases than adults as, children inhale more polluted air per kilogram (action on smoking and health, 2014). 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Freedom? Yes it is. Since this is true why would we say you can have your freedom to do as you please but place stipulations on it? Since the United States is a free country it should be anyone`s right to smokeRead More The Health Risks of Smoking Cigarettes Essay1400 Words   |  6 PagesRisks of Smoking According to Global Smoking Statistics, 80,000 and 100,000 youths start smoking everyday. Smoking is everywhere, in shops, restaurants and malls. Smoking can be controlled if the right steps are taken. If you walked around downtown Fort Collins, the odds are good that you will encounter a smoker. The negative effects of smoking outweigh the positive effects of smoking yet people still do it. There are ways to quit that can make your life better if you smoke. Smoking goes back

English Essay †US Summer Camps Free Essays

They work with the children; they teach them sports, play with them ND educate them. The Europeans, whom experience to work at a summer camp, will not only benefit from an extraordinary experience and growth as people. They will also learn a very useful lesson in the English language. We will write a custom essay sample on English Essay – US Summer Camps or any similar topic only for you Order Now More than a thousand Europeans come to the US, to work at summer camps every summer. The Europeans work with the children as instructors, careers or maintenance workers at the camps. The Europeans get a chance to work with kids and youngster, and obtain skills in leadership. They will meet a whole new culture, when they arrive at the camp. Some will get surprised, because hey might have prejudged the Americans, and their expectations to a summer camp. The young European will also grow as a person. Any shyness or fears will be vanished, because of the interaction with the children. Their confidence level will also rise, and become more independent. It can be kind of a culture shock, for some of the Europeans. The biggest culture difference is the food, and when you are at summer camp there is no fast food, so the new food might be weird at first. The Religion is also different. The Europeans meet many different religions, and it can be hard to Geiger out what is inappropriate to say to some religions, and what is not. Some Europeans might have trouble with the language. When you are working at a camp and your job is to play and educate the children, it might seem frustrating at the beginning. But when the only language the children know is English, you are being forced to try and talk to the kids, and the only language you hear around you is English, it will improve. Their vocabulary will also improve, and expressing themselves in English will be easier. The job as an instructors, careers or maintenance workers, will benefit the nouns Europeans in the future. As a maintenance worker you will learn to think practically, learn to solve problems on your own. As an instructor, you will learn leadership, which can be useful for the rest of their lives. As a care you will learn to take care of children, and it will be a good thing to have on your C.V., if you want to work with children in the future. If was to work at a summer camp during summer, I think I would very much enjoy it, due to the reasons mentioned before. I think all people will benefit from working at a summer camp. They will all get an extraordinary experience, and others will benefit from their stay in an educational aspect. Personally think I can learn a lot from working at a camp, not only as a person, but also my English will improve. Overall I think summer camp is a great way to spend summer, not only for the children, but also for the workers. The young Europeans, whom go to America to work with the children, will grow as people. They will obtain new skills, become more self-aware, and learn about new cultures. Some Of the Europeans might be a little shocked about the new cultures, the foods and elisions are very different from what they are used to. How to cite English Essay – US Summer Camps, Essays

Project Report for Nike Company-Free-Samples-Myassignmenthelp.com

Question: Discuss about the Project Report for Nike Company. Answer: Introduction The chosen international business organization for this project report is Nike, Inc. Nike is a multinational company which is majorly based in America. It is involved in several activities, ranging from designing, manufacturing, and also the marketing of accessories, equipment, including the sales and delivery of services. To be specific, Nike specifically deals with footwear such as athletic shoes and sports clothes also. In general, Nike Company majorly deals with sports clothing, accessories, and equipment. It manufactures this equipment, then markets and sells them to various markets. Originally, Nike was known as Blue Ribbon Sports. It was founded on January 25, 1964. The founders of this company were Phil Knight and Bill Bower man(Wierenga van der Lans 2017). Phil was a track athlete from the University of Oregon. Bower man, on the other hand, was his coach. Originally, the company distributed shoes on behalf of another company from Japan, which was known as Onitsuka Tiger. As time went by, it expanded its territories and started to manufacture its own sports shoes. By this time, the partnership of these two companies had gradually weakened and was always coming to an end. Finally, each company now operated on its own. Later on May 30, 1971, the company changed its name to Nike, which remained to be the official name of the company up to today(Avagyan, Landsman Stremersch 2017). The two founders named this company after the goddess of victory in Greek, who was known as Nike. Nike has its main headquarters in Beaverton city. Other several outlets and offices ar e spread all over Washington. The company performed well in the market, making more profits from sportswear. For the first time, it nationally broadcasted its television ads in 1982, with the help of an agency called Wieden+Kennedy (W+K). The Cannes Advertising Festival consequently announced that Nike Company was the honored to have the tag of being the company which had advertised most, in 1994 and also in2004. Actually, it became the first company to be the advertiser of the year, for two years. Nike was also awarded the Emmy Award, for being the best commercial. In fear of the revolution of 1988, Nike seized to air out ads on televisions. This company was of the earliest companies to utilize internet marketing where it earned a lot of profit. By the end of the year 2012, Nike had bought a stock which was worth $10 billion(Dagger Danaher 2014). Nike is now one of the biggest international business organizations in the world. It still continues to manufacture sportswear and markets them to local and some inter national markets. However, entering international markets has not been easy for this company. Application of theory to practice Marketing process and strategies For any business company to be successful in marketing, the marketing process and strategies are very essential. Below is a detailed explanation of the concepts marketing process and strategies and how they have been practically put in use by Nike Company. The first step of the marketing process is conducting a market research(Bischi Baiardi 2015). Some scholars also refer this to as situational analysis. It includes a thorough and detailed analysis of the customer needs, capabilities of the company itself, the macro and micro environments surrounding the company, the existing past, the present, and the future aspects of the market where the company intends to enter, among many other aspects. According to a research carried out by (Mochen Jr. 2016), one of the major competitors in the market is Reebok. The operation of this company is relatively similar to that of Nike Company. Rebook Company is involved in both the design and manufacture of sport and non-sport footwear. However, the research revealed that Reebok financial strength has been declining over years. As at the time of the research, the stock price of Reebok Company had reduced by 17% (Conrad et al. 2015). Further research showed that the customers for athletic shoes and apparel were so many. The demand for such footwear was high while Reebok could not manage to supply enough to the market. After detailed data analysis, Nike identified that there was a business opportunity in the American market and therefore entered the market. It thrived well and competed favorably with other organizations. After having established a strong base in its home ground, Nike decided to enter international markets. Though through its marketing strategy, it was successful in some nations, Nike was not successful in China (Schmidt, Spann Zeithammer 2014).The major reason behind this failure was the presence of some unfavorable government barriers. China had tariffs which discouraged importation of goods to their country. For those commodities which were legalized to be imported to the country, a high percentage of value added tax was imposed on them. Footwear from the Nike Company was legalized to be imported, but Nike could not afford to pay for the high value added tax, which was imposed on its products. Internationalization of their products, therefore, became difficult. The similar stiff competition was also experienced in Europe where Adidas Company had 13.2 % of the total shares, while Nike had 12.4% of the total shares (Lusch Vargo 2014). However, in many nations, Nike entry to interna tional markets was successful. The second step of the marketing process is creating a market strategy that is customer-driven. A company proceeds to this step after identifying a business opportunity. There are several marketing strategies that a company can put in place. One of these is segmentation. Segments are portions. Segmentation is, therefore, the process of dividing a market into portions which are meaningful (Leonidou, Fotiadis Zeriti 2013). Here, the business organization seeks to identify certain groups of people who have a high demand for the business' products, and are interested and willing to purchase such products. A business segments its potential customers for various reasons. One of these reasons is to make it easier for personalization of market campaigns. A generalized campaign about a business' product, without segmentation, is very expensive. After Nike did segmentation, demographically, the research showed that footwear and sportswear, in general, was largely purchased by the youth (Shih 2014). This formed one of its segments. After considering peoples lifestyles, the research panel also realized that sportswear was largely purchased by players in different games, ranging from football, volleyball, basketball, among many other names. Targeting is also another marketing strategy. It refers to the process of evaluating the opportunity in each group of potential customers segmented (Papadopoulos lop 2014). A business therefore now groups each segment according to the opportunity available. Several criteria are used to target each segment. Some of these are discussed below. One of them is the criteria size. For the segment to be targeted, it has to be large enough. When a large number of potential customers are segmented on one segment, it becomes easier to target them. Marketers tend to concentrate more on where the segments are large (Czinkota Ronkainen 2013). Nike Company also did targeting. This strategy was successful in some countries such as Saudi Arabia, while it failed in others like China. After noticing that, there were potential customers in Saudi Arabia; Nike Company diverted its attention from smaller segments and focus on the major ones, like the one in Saudi Arabia. Till today, Nike supplies the play kits for the national football team of Saudi Arabia (Jr., Cannon McCarthy 2013). It also supplies sportswear to most universities and colleges in the same country. However, in China, the segments were small. Nike tried to deliver its products to China but after realizing that there were more losses than profits, it reduced its attention to this nation. However, some small target segments still exist in China. Nike, with the use of positioning strategy, proceeded and advertised widely in Saudi Arabia, to make it known to the public that all best sportswear comes from Nike. This was very successful. The brand logo, which is branded on the sportswear, help to further spread the name of the company hence making it famous. Recently, local but stable football teams have started to order their games kit from this company (Elenkov 2014). Nike, therefore, ends up accruing more profits from this nation. Good relations between the United States and Saudi Arabia make it favorable for the international entry to the market, of Nike Company. Evaluation of marketing mix of Nike Company The marketing mix is still another essential factor in marketing. To fully understand the marketing mix, it is crucial to understand the 4Ps, which summarizes the whole process of the marketing mix. These are product (services), place, price, and promotion (Paliwoda Thomas 2013). Product refers to the tangible product which offered by the business organization, to the customers (Akaka, Vargo Lusch 2013). If the products not tangible, it is referred to as a service. For a product to be successful in the market, the company or business organization has to make a decision on what features to include in the product. These decisions are made from the views of the potential customers of that product. Therefore, for the product to accrue more sales in the market, it has to include all that the customers need. The color and texture of the product should be appealing to the eyes of the potential buyers. Once all the above product concepts have been dealt with, the marketing mix process moves the next step of pricing. It is in this stage where the commodity is given value. The price of a certain product is determined by several factors. One of these factors is demand and supply (Eteokleous Leonidou 2016). If the demand for a certain product is high in a certain segment, the company supplies more quantities to that segment. Customers tend to purchase more when the price of the commodity is low. When there is a surplus in the market, the company may choose to lower the price of products, to get rid of the excess in the market. Failure to do this, inflation might occur. According to research carried out by (Morschett, Schramm-Klein Zentes 2015), 25%-30% of the capital in the United States, is bestowed in the hands of the youth. Nike Company utilizes this opportunity by providing several varieties of sportswear to the youth. The price is standardized to ensure that it is within their purchasing power. However, in international markets like China, Nike products face a lot of competition. Pricing concept now determines the success of the next marketing mix strategy which is promotion. Promotion is carried out when the business organization has the product and its price. Promotion aims at communicating to the public about the product, its features, and its price. Promotion is done through several methods. This includes email marketing, social marketing, marketing by use of videos, search engine marketing and also through public relations. All these promotion concepts, aimed at making the product known and familiar to the potential customers. Nike massively makes use of internet marketing. This is mostly done through social platforms. Through Face book, Twitter, LinkedIn, among many other platforms (Majaro 2013), Nike makes a lot of sales. Finally, place represents the last P of the marketing mix. Place refers to the locations where the goods can be delivered to potential buyers. Where the segments are large, appropriate positioning is done to ensure that each segment has enough of what it needs (Cavusgil et al. 2014). With the current technology, positioning has been advanced. Nowadays, transactions are done online, after which the goods are now delivered to the respective destinations. Marketing models SWOT analysis Marketing models also play a very important role in the entry behavior of companies to international markets. Nike Company mostly utilizes the SWOT analysis model. SWOT is an acronym which is used in business studies to stand for strengths, weaknesses, opportunities and threats (Rauch, Wolfsmayr Borz 2015). This, in short, summarizes all the activities which take place in any enterprise. A company can, therefore, determine its strengths and weaknesses through this model. The following is a detailed analysis of Nike Company using this model. One of the strengths of Nike Company is bestowed on its board of directors. The board of this company is inclusive. It is composed of both managing directors and also independent directors. The managing directors are trained and well equipped with the best skills of management that the company needs. On the other hand, the independent directors bring forth the external experiences which are essential for the success of the company. Additionally, Nike Company has its strength in promotion. Nike is a worldwide company which is known for massive advertising. The company uses a brand, which bears the name of the company. The trademark with the word swoosh is also used in its adverts. Mass advertising helps the company to develop new international markets and therefore make more profits. Another major strength of Nike Company is the location of its facilities. Nike has its enterprises, facilities, and offices across the globe. Most of its offices are located in the United States. Other notable offices are also located in South America. Several minor outlets are also spread all over the nation. This strength makes Nike company to be termed as a global company. However, despite all these strengths, there are also some weaknesses that, through research, have been noticed. One of these is in human capital. Though technology has brought us the innovation of machines, human capital still remains an essential factor for any company to be successful. Human labor is still essential. Nike has employed several specialists in different business fields. These include sales persons, technicians, drivers, casual workers, among many others. However, the wages paid to these workers are not sufficient enough. The company in some interior international markets has employed employees who are less than 18 years (Gmelin Seuring 2014). This has been a major challenge since the international business regulations do not allow this. Opportunities for Nike Company still exist. The need for footwear is increasing day and night. This is due to the increasing number of youth who are joining the Athletics and games competition. A notable number of people, who are utilizing health concepts such as exercising daily, are also increasing. This, therefore, creates an opportunity for Nike Company, to produce more footwear and sportswear, to cater for this increase in demand for products related to it. Another opportunity still exists as a result of internet marketing. Originally, goods would follow a long distribution channel before the final product would reach the final customer. To be specific, middlemen intervene in the distribution channel and hence increasing the price of the final customer. Profits are therefore minimized as a result of this. Recently, internet marketing has been introduced. This helps to eliminate the middlemen in the distribution channel and therefore profits which would go to the middlemen now goes directly to the company (Naert Leeflang 2013). This is, therefore, an opportunity that Nike Company should make use of, for a better use. However, there are also some threats. This is factors that threaten the life of a company. Threats of a company should be dealt with as soon as possible for smooth running of businesses. One of these threats is that Nike Company has now grown up to its limits. It is actually approaching its off point. On the other hand, the technology and style it uses have also been exploited to its maximum. This situation creates a phase of dormancy (Stark 2015). The company, therefore, does not seem to grow. The only option left is to advance the different lines of products and technology that already exist. This is a serious threat that is recently facing Nike Company. Additionally, inflation is another threat. Nike has most of its market in its home country that is The United States. Currently, United States is facing serious problems due to inflation. When inflation occurs, the spending of the consumers reduces. As a result, big companies such as Nike, end up making losses since its products are not bought. This is, therefore, a threat to Nike Company. Product life cycle model Another major marketing model that Nike makes use of is the product life cycle model. This cycle explains the behavior of the product, the owner of the product, and the sales, in four major stages. A detailed explanation of this model, in relation to Nike Company, is as epitomized below. The first stage of this model is the introduction stage. It is in this stage where the company introduces its new product to the market. Since it is usually the first time for the product to explore the market, the company does a lot of advertising and promotion of that product, for it to gain popularity in the market (Kim, Kara Kayis 2014). However, since the product is new to the potential customers, they may not buy it for the first time. The company, therefore, is likely to suffer a loss both in the sale of the product and in massive promotion. Companies rarely get profits on a product which is entering the market for the first time. Nike, for the first time it was introducing its sportswear to the market, it made losses in certain markets, while small margins of profit were portrayed in some markets. The company had anticipated this but it was ready to incur losses. Nike advertised massively in televisions among other broadcasting stations, to make sure that sportswear and appa rel, gained popularity in the States markets. The second step of the product life cycle is the Growth stage. This is the most effective stage of this cycle (Schlegelmilch 2016). When the product has now gained popularity, it spreads and becomes diverse in the market. As a result, more people purchase it and hence the profits increase. It is in this stage where the company may choose to reduce the price of the product and supply more of it to the market. The companies name becomes popular in this stage. Additionally, new but similar business enterprises arise in the market. This brings forth, new competitors in that certain market. The target business then thrives to compete favorably with such competitors. If the right marketing procedures are applied, a company may still maintain its high sales, despite the stiff competition. Promotion still exists at this stage to make more sales. The company may choose to educate its customers about the product it offers in the market, its advantages and disadvantages. Nike Company also utilized this stage in its early stages of growth. It advertised massively after sportswear becomes popular in the market. Nike went even further to explore foreign and international markets, where it successfully drew the attention of a large segment in Saudi Arabia. The company accrued a lot of profit during this time. The next stage of the cycle is the maturity stage. At this stage, the company is big enough. Due to its popularity, it does not advertise anymore. Sales, therefore, tend to reduce at this stage. More suppliers of the same product arise in the market and hence the target company may suffer some stiff competition (Pyo 2015). Nike Company is almost heading to this stage. Its sales have been decreasing over time. The last stage is the decline stage. This is the last stage of the product cycle. Here, the company maintains the sales of its products and benefits from the sales without any further effort. If the whole process tends to be heading to a loss, the company totally drops that product. Conclusions To conclude this project report, there are certain measures, which, when put in place, Nike company can make more profits. This conclusions and recommendations can be drawn from the concepts which have been discussed above. The following are some of the recommendations. First of all, Nike Company should realize that it is heading towards the maturity stage of the product life cycle. It is therefore advisable to utilize the knowledge of expanding product lines and product variation. This will help to still maintain its sales despite this situation. For example, Nike can produce a variety of sports shoes, with different colors and modification such as glowing lights, to make the products seem unique. Secondly, from its weakness on human capital as discussed above, the company should look for means to increase the minimum wage for its employees. This will motivate them to work harder and therefore bring more profits to the company. The company should also avoid employing casual workers, who are under 18 years. This will help to avoid conflicts with the government. It may also lessen the strength of some of the unfavorable government laws concerning business. Finally, the company should make use of the available and different marketing strategies and knowledge about marketing. This is essential because it will help the company to maintain customer loyalty and still make profits all year round. All the marketing models discussed above are very crucial for the success of any business organization. References Akaka, M, Vargo, S Lusch, R 2013, 'The complexity of context: A service ecosystems approach for international marketing', Journal of Marketing Research, pp. 1-20. Avagyan, V, Landsman, V Stremersch, S 2017, ' Marketing Models for the Life Sciences Industry', in In Handbook of Marketing Decision Models, Springer, Cham. Baker, M 2014, Marketing strategy and management., Palgrave Macmillan. Bischi, G Baiardi, L 2015, 'Fallacies of composition in nonlinear marketing models', Communications in Nonlinear Science and Numerical Simulation, pp. 209-228. Bucklin, R Hoban, P 2017, 'Marketing models for internet advertising', In Handbook of marketing decision models. Cavusgil, S, Riesenberger, J, Rammal, H Rose, E 2014, International business, Pearson Australia. Conrad, S, Krezdorn, L, Trieste, L Turchetti, G 2015, ' Second report on services, business and marketing models for Robot-Era services', project report. Czinkota, M Ronkainen, I 2013, International marketing, Cengage Learning. Dagger, T Danaher, P 2014, 'A Comparison of Relationship Marketing Models', Handbook of Service Marketing Research, p. 52. Elenkov, D 2014, 'Experiential Exercise with Multinational Student Teams: Researching Together a Multinational Corporation and Developing Jointly a Strategic Marketing Plan for IT Using Blackboard', Developments in Business Simulation and Experiential Learning. Eteokleous, P Leonidou, L 2016, ' Corporate social responsibility in international marketing: review, assessment, and future research', International Marketing Review. Gmelin, H Seuring, S 2014, 'Achieving sustainable new product development by integrating product life-cycle management capabilities', International Journal of Production Economics, pp. 166-177. Jr., P, Cannon, J McCarthy, E 2013, Basic marketing, McGraw-Hill Higher Education. Kim, S, Kara, S Kayis, B 2014, 'Economic and environmental assessment of product life cycle design: volume and technology perspective', Journal of cleaner production, pp. 75-85. Leonidou, C, Fotiadis, T Zeriti, A 2013, ' Resources and capabilities as drivers of hotel environmental marketing strategy: Implications for competitive advantage and performance', Tourism Management, pp. 94-110. Lusch, R Vargo, S 2014, The service-dominant logic of marketing: Dialog, debate, and directions, Routledge. Majaro, S 2013, 'A Strategic Approach to World Markets', International Marketing (RLE International Business). Mochen, R Jr., R 2016, Shoe outsole, U.S. Patent. Morschett, D, Schramm-Klein, H Zentes, J 2015, Strategic international management, Springer. Naert, P Leeflang, P 2013, Building implementable marketing models, Springer Science Business Media. Paliwoda, S Thomas, M 2013, International marketing, Routledge. Papadopoulos, N lop, L 2014, 'Product-country images', Impact and role in international marketing. Pyo, S 2015, 'Integrating tourist market segmentation, targeting, and positioning using association rules', Information Technology Tourism. Rauch, P, Wolfsmayr, U Borz, S 2015, SWOT analysis and strategy development for forest fuel supply chains in South East Europe. Forest Policy and Economics. Schlegelmilch, B 2016, 'Segmenting Targeting and Positioning in Global Markets', in In Global Marketing Strategy, Springer International Publishing. Schmidt, K, Spann, M Zeithammer, R 2014, 'Pay what you want as a marketing strategy in monopolistic and competitive markets', Management Science, pp. 1217-1236. Shih, JY,CWHACYJ,2DDTMMFPLIIEAEM(2IICO(1-1I,. Shih, JY, CWHACYJ,2D 2014, 'Developing target marketing models for personal loans. ', In Industrial Engineering and Engineering Management (IEEM), pp. 1347-1351. Stark, J 2015, 'Product lifecycle management', in In Product Lifecycle Management, Springer International Publishing. Wierenga, B van der Lans, R 2017, ' Marketing Decision Models: Progress and Perspectives', In Handbook of Marketing Decision Models.

Theodore Herzl Essays - Jewish Agency For Israel, Zionism, Politics

Theodore Herzl Theodore Herzl was born in Budapest, Hungary, in 1860. He was raised in an assimilated Jewish family that celebrated Christmas. He moved to Vienna, Austria, where he studied for the bar exam and later in 1884 was awarded a doctorate of law from the University of Vienna. However, instead of practicing law, he chose the dual career of journalist and playwright. His Judaism was not much of a factor in his life. In 1894, when Herzl was 34, an earth-shattering event in France transformed his life forever. He was sent there to cover the trial of Alfred Dreyfus. Dreyfus was a French Jewish Army captain accused of treason, for selling military secrets to Germany. It soon became obvious to Herzl that the charges against Dreyfus were erroneous and that he was innocent. As a Jew, Dreyfus had become the scapegoat for the frustrations of the people of France, which had just suffered defeat in the Franco-Prussian War. The Dreyfus trial had unleashed a wave of anti-Semitism in France. Herzl, whose Jewish connections were weak, nonetheless saw in the Dreyfus affair a harsh reminder of the poisonous persistence of anti-Semitism. He concluded that Jews could never be integrated fully into their adopted countries. They would always be considered outsiders. They could never feel safe from persecution except in a land that they could claim as their own. Hundreds of other Jews also saw the Dreyfus affair as evidence of incurable, widespread anti-Semitism. Yet, few, like Herzl, believed that we needed a special Jewish homeland. Soon, thereafter, Herzl wrote his first major book, Der Judenstaat- The Jewish State. Here he outlined his program of political Zionism. He wrote that the solution to the problem of Jewish vulnerability was a Jewish state. This state would be legally recognized and sanctioned by most of the worlds super powers. He even proposed the transfer of Jewish populations from around the world to that homeland. The State was to be modern, sophisticated, and technologically advanced. What Herzl did not discuss, was the Jewish content of that state. Was it to be a state of the Jews or a Jewish state? He essentially saw that place as a secular entity. It was to be a haven of safe refuge for harassed Jews, rather than a vibrant center of Jewish spiritual life. There were two groups whose religious outlook could not have been more different opposing Herzl. First were the Reform Jews. They insisted that we must live comfortably in any nation of the world where we find ourselves as citizens. They go on by saying that dont need our own land. Furthermore, the Reform Jews argued that we as Jews are not a national entity. That we are solely a religious community, and that we differ from our Christian counterparts only in one way: we practice the Jewish religion and they practice Christianity. We go to a synagogue and they go to a church. In every other respect, we are the same. The other fierce opponents to Zionism were the Orthodox. They insisted that as Jews we could not have a state of our own, until the Messiah comes. Nonetheless, Herzl was undeterred by these objections. He persisted in pursuing his goals. In 1897, exactly 100 years ago, Herzl organized the First Zionist World Congress, in Basle, Switzerland. About 200 participants representing different countries assembled there. Following the Congress, Herzl continued to try to gain support of European statesmen towards the Zionist cause. Some, like Kaiser Wilhelm II, of Germany, seemed favorably inclined, however others, like the Sultan of Turkey were unreceptive. Herzl was now somewhat discouraged by his lack of success. In fact, he was willing to settle for any land that he could obtain as a haven of refuge for Jews. Eventually he developed the Uganda Plan and negotiated with Great Britain. Great Britain proposed, as a temporary solution, that the Jews secure a section of East Africa. Herzl thought it would be politically sensible to accept the offer. He viewed Great Britains proposal to be an official endorsement of the Zionist cause. He thought that Britain would eventually come around to accepting the idea of the land of Israel as the Jewish homeland. However, the

Macroeconomics Socialism, Totalitarism and US Economics

Macroeconomics Socialism, Totalitarism and US Economics Introduction In any economic system, capitalists and managers organize natural resources, manual labor and know- how to create and bestow goods and services. The manner in which these distinct elements are brought together and used is a sign of the state’s political principles and culture. The U.S. system of government is known as federal and is composed of three different subdivisions.Advertising We will write a custom report sample on Macroeconomics: Socialism, Totalitarism and US Economics specifically for you for only $16.05 $11/page Learn More These include the lawmaking subdivision, the judiciary, and the executive. The U.S. has a capitalist economy whereby small groups of persons manage large sums of money and make significant economic impacts. The capitalistic economy of the U.S. has two approaches which include the standard and the nation-building approach. The standard approach is temporary and non-strategic. It views market improvement as a n economic issue and promotes narrowly definite and self-sufficient leadership. The state building approach is characterized by pragmatic sovereignty, sufficient governing bodies, cultural match and deliberate leadership (Flynn McConnell 214). Socialism is a type of government in which the community is subject to property and wealth allocation. This management may be carried out via famous persons or via the state. As an economic scheme, this type of government is exemplified by collective possession of production means and is thus accredited to communism largely because of the allocation of wealth managed as intact and un-independently. Socialist economics are the financially viable theories and activities of theoretical and accessible socialist economic structures. Socialist economy relies on public possession or sovereign cooperative possession of production techniques.Advertising Looking for report on business economics? Let's see if we can help you! Get your first pap er with 15% OFF Learn More In this economy, production is done to create use-value that is coordinated via economic scheduling. Totalitarianism is a form of government whereby personal freedom is restricted and all aspects of a person’s life are subordinated to the governments rule. It is a social philosophy that is understood as total control over communal activities. It is trusted that this form of government is an answer to economic problems in a nation. Totalitarian governments receive devastating support for their opinions and objectives when it comes to economic development. This paper will compare and contrast the approach to economics of the U.S. system of government to socialist and totalitarian forms of government. Discussion Compare and contrast the approach to economics of the U.S. system of government to Socialism Capitalism, which is the economic system in the U.S, and Socialism are both economic schemes. In capitalism, the economy is privatized while in socialism, there is a central government that directs the economy. While the socialist form of government vests more authority into the political organization, the capitalist economies in the U.S. contemplate more power under the rich businesspersons whose goal is profit maximization. Socialist economies are characterized by greater management by government. This leads to political goals of equal dissemination of resources in the society. In capitalism, there is equal economic prospects with minimal or no government intrusion while in Socialism, there is equal economic prospects with government intrusion. In capitalism, cartels can easily demolish an economy by manipulating every production means where as in socialism, schemes that cannot stand on their own such as welfare act as fiscal black holes. Both capitalism and socialism are fiscal ideologies though the aim of capitalism is profit and that of socialism is wellbeing. The United States economy may be depicted as a mix ed economy whereby the government works together with private enterprises to improve the economy. The United States, just like any other urbanized nation, has to endorse socialist laws via courier democracy to make it possible for smaller companies to expand and generate competition.Advertising We will write a custom report sample on Macroeconomics: Socialism, Totalitarism and US Economics specifically for you for only $16.05 $11/page Learn More In socialist economy, goods and services are generated directly for consumption. This is in contrast to the capitalist economy in the United States where goods and services are created for profit. Goods are produced due to their value thus ignoring the need for market-stimulated wants. Production in this type of economy is thus planned or harmonized and does not face problems arising from the business cycle. This is inherent in the United States capitalist economy. Nearly all socialist economies apply land, labor, c apital and entrepreneurship to their economic planning and not to the distribution of products produced for use as in the capitalist economy. The possession of production means in a socialist economy can be public, cooperative or communal. Economic planning in socialist economy takes a distinct form compared to economic planning in capitalism. In socialism, planning is understood as the creation of use-value in a direct manner while in capitalism, planning is taken to mean the arrangement of capital buildup to stabilize or augment the effectiveness of this process. Socialist economies ignore the free market and its price indicator. Its lack of enticements leads to a slow GDP growth. This is different from capitalism which has a high growth due to the presence of price indicators. It is thus easy to compute rationally how to distribute resources (Mai 145). Compare and contrast the approach to economics of the U.S. system of government to Totalitarianism Capitalism and Totalitarianism are both economic schemes. In capitalism, there is equal economic prospects with minimal or no government intrusion while in totalitarian economy, everything is controlled by the society. In capitalism, cartels can easily demolish an economy by manipulating every production means where as a totalitarian economy concentrates more on distributing rather than generating wealth.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In capitalism, the economy is privatized while in totalitarianism, there is an oppressive authority which does not provide its citizens any rights or liberty (Mai 149). The capitalist economy in the United States is a market economy whereby prices arising due to competition establish what goods are produced together with their quantities. Prices in this economy also result in fair relations amongst the several sections of production to overcome disputes. A capitalist economy is managed by the market laws and the sovereignty of these laws comprises the influential sign of the capitalism. Totalitarian economy, however, precisely gets rid of the sovereignty of economic laws. It signifies not a market but an economy of the final consumer. In this economy, a state planning charge determines the goods produced and how they are produced. Though price charges and wages subsist in this economy, they no longer play a role in determining the production process. They only become distribution me ans establishing the share that a person gets. In this economy, both the motivating competition fire and the obsessive striving for proceeds offering the main incentive of capitalism vanish. The central notion in the totalitarian economic system is the achievement of a certain goal. This goal is the rationale why a totalitarian regime exists and all the resources are aimed at the accomplishment of the goal (Mai 187). Flynn, Sean and Campbell McConnell. Macroeconomics. New York: McGraw-Hill, 2009. Print. Mai, Ludwig. Approach to economics. Littlefield: University of Virginia Publishers, 2010. Print.

A restaurant Essay Example | Topics and Well Written Essays - 500 words

A restaurant - Essay Example The first point of interest to me in that situation would immediately be the safety of myself and of my friends; with the safety of other restaurant patrons being included in this overall level of concern as well. Secondly, I would most likely get down and instruct all of those around me to get on the ground and maintain a low profile; i.e. in other words not allow the shooter to have any type of discernable target to focus his fire upon. The second thing that I would do is try to organize a fast exit for my friends and the other people within the restaurant. Although it is helpful to get down low and try to present the shooter with a small of a target as possible, an even more important factor will be to evacuate the place as soon as humanly possible. Due to the fact that it is unknown what the shooter ultimately intends on doing combined with the fact that sitting around and waiting for the worst is foolish. The third item that I would attempt would be dependent upon the situation and overall proximity that I had to the shooter in the case in point. If I was in a situation in which I could throw something, distract, or otherwise incapacitate the shooter I would do so as both a means to protect myself and as a means to seek to provide a necessary element of distraction to allow others the opportunity to escape. Fourthly, I would seek to find help as soon as possible by contacting the authorities. This fourth point has waited until later in this analysis due to the fact that time is of the essence with regards to seeking to rapidly evacuate the premises and ensure that the other steps which have herein been detailed are adequately followed prior to taking the time to open the phone, dial the authorities, and explain the situation as it is unfolding. Although the level of discussion that has been described is speculative, there is truly no way to describe to anyone how I would ultimately a ct in a situation such as the one described; regardless of the

Assignment2 Research Paper Example | Topics and Well Written Essays - 1500 words

Assignment2 - Research Paper Example Most importantly, there are popular people in the world who get a lot of attention thus the whole society as a whole seeks to follow and fodder for their information. The term media in the simplest and most basic sense refers to the avenue where information is shared or passed from one source to the recipient. In the recent past, there have been changes, modifications, advancements and improvements in the fields and sectors of technology therefore the definition of media has changed. Accordingly, there has been the concept and notion of social media which encompasses avenues such as you tube, Facebook, Twitter, Instagram where information is passed and shared uncensored and an unedited. This paper will thus look at the extent to which the media inclusive of the social media could influence the behavior of the teenage girls (Martin & Bush, 2000). In principle, this article and text will discuss and look into the exact ways in which the media affects behaviors of girls. In form of a hypothesis, this paper will explore how the media affects dress codes and fashion patterns or inclinations of teenage girls. Fashion also encompasses and covers the way in which a celebrity or a popular person poses to represent themselves and the background identity as a whole. A practical case and instance is the way Britney Spears did pose in magazines in 1999, the implication it had on the teen girls and what that instance or posing could influence and impact the behavior of girls. Tentatively, this research paper will be exploratory in nature, stemming from the fact that it does not have any static hypothesis which would be sought to be confirmed or disapproved. In principle, the research paper will be free-flowing and self-guiding, therefore the conclusion that would be made would be informed by facts and figures obtained in the course of the research paper. Given the nature of this research and study it would be proper to obtain first-hand information from the

Exam 1 Assignment Example | Topics and Well Written Essays - 1000 words

Exam 1 - Assignment Example There are 44 questions, be sure to answer them all. MULTIPLE CHOICE (1 pt each) 1. Which of the following includes all the others? A) atom B) cell C) organism D) ecosystem 2. In science, a hypothesis must be A) testable B) a known fact C) able to be proven absolutely true D) derived from a theory 3. A chlorine atom has 17 protons, 18 neutrons, and 17 electrons. The atomic number of chlorine is A) 8 B) 17 C) 35 D) 52 4. If you place the probe of a pH meter in an unknown liquid and it reads pH 1, the liquid is A) an acid B) neutral C) a base 5. This polysaccharide forms fibers that are a major component of plant cell walls: A) glucose B) cellulose C) starch D) glycogen 6. Glycerol is a building block of A) starch B) enzymes C) vegetable oil D) DNA 7. Which of these types of molecules contain nitrogen? A) proteins B) phospholipids C) polysaccharides 8. Prokaryotic cells, with no nucleus or membranous organelles, are found in A) animals B) bacteria C) fungi D) plants 9. If the concentrat ion of glucose in the water outside of a cell is lower than the concentration inside, A) water will tend to leave the cell by osmosis B) water will tend to enter the cell by osmosis C) glucose will tend to leave the cell by osmosis D) glucose will tend to enter the cell by osmosis 10. ... Which of these does not have to be present for photosynthesis to occur? A) water B) carbon dioxide C) glucose D) chlorophyll 13. The oxygen in our atmosphere is produced by A) photosynthesis B) cellular respiration C) greenhouse effect D) volcanic eruptions 14. Yeast cells break down glucose anaerobically into A) ethanol and CO2 B) lactic acid and CO2 C) lactic acid and H2O D) ethanol and H2O 15. The net energy gain from complete cellular respiration is A) 2 ATP B) 4 ATP C) 8 ATP D) 36-38 ATP 16. Carbon dioxide is released in A) the light-dependent phase of photosynthesis B) the Calvin cycle C) glycolysis D) the Krebs cycle 17. Which of the following is not a characteristic of enzymes? A) they are proteins B) they speed up the rate of chemical reactions C) they act on specific substances called substrates D) they are used up in each reaction, thus need to be produced in large quantities 18. Each new cell produced by this process will have an identical copy of all chromosomes and gene s possessed by the parent cell: A) meiosis B) mitosis 19. During the first division of meiosis, A) homologous chromosomes separate B) chromosomes separate at the centromere C) chromosomes become triploid 20. The number of chromosomes in a human sperm cell is A) 4 B) 8 C) 23 D) 46 21. Exchange of genes between maternal and paternal chromosomes before the first division of meiosis is caused by A) crossing over B) X-linkage C) cytokinesis D) replication 22. If a heterozygous male mates with an albino female, what percentage of albino children would be expected? A) 0% B) 25% C) 50% D) 75% E) 100% 23. Queen Victoria's son Leopold had hemophilia, which is caused by a sex-linked recessive gene (Xh). Leopold lived to be 31 years old and fathered a normal daughter. What is the

Individual Roles in Groups | Reflection

Individual Roles in Groups | Reflection Explore and discuss individual roles and function within groups using a reflective model This essay will explore, discuss and evaluate individual roles, processes of group formation and function within groups. It will look at reflection and the importance of reflection in paramedic practice. It will reflect on my own experiences during the role I played while participating in a group presentation. It will do this by using Gibbs reflective cycle (1988) as a model (Appendix A). Reid (1993) states that within healthcare, reflection has been defined as the active process of reviewing, analysing and evaluating experiences, drawing upon theoretical concepts or previous learning, in order to inform future actions (Cited in White et al 2005). In simplistic terms this means to learn from previous experiences and to implement effective positive changes to practice. By doing this the individual will give the patient a better experience. As a result of reflecting upon practice, this will encourage pro active learning and develop autonomous professional and clinical practice (White et al 2005). Gibbs (1988:09) believes that if an experience is not reflected upon the learning potential will be lost forever. The University of Leeds devised an experiment which supports this statement, Assessment and Learning in Practice Settings (Cited in White et al 2005) (Appendix B). The results of this experiment suggest that reflective practice is a vital skill for future paramedics (White et al 2005). It will enhance personal and professional development, therefore helping you to be constantly learning to excel in your chosen profession. Adair (1989, cited in Rogerson et al 1996) stated that a group is a gathering of more than two people that are identifiable by a type or name. The group should have the same goals and will need to help each other in order to achieve the reasons that they initially joined. He suggests that there are stages in the formation of groups known as group dynamics. This explains a groups behaviour and progression through four sequential stages; forming, storming, norming and performing (Adair 1989, cited in Rogerson et al 1996) (Appendix C). By way of practical example I will reflect on a group presentation in which I recently partook. When the group first met we discussed the assignment. At this stage we were in Adairs forming stage. We discussed ideas for the presentation and came up with times we could all meet. Nothing was actually confirmed we all just aired our opinions, no real progression was made during this stage. I do not believe we went through the storming stage as we did not argue over the logistics of the presentation. However we did utilise a democratic decision making process to avoid conflict. Throughout there was not a particular person who took control, we all got involved as much as each other. If two or more ideas were put forward regarding the same thing, a majorities vote always won. At each meeting we progressed and all had similar ideas to how we wanted the presentation to conclude. We were now at Adairs norming stage. At this point we were all in agreement and communicating effectively, we had group unity. Rogerson et al (1996:78) says that for a group to succeed a essential component of effective communication is necessary. We were in the Performing stage when we were ready to deliver the presentation on the allocated day. I felt a little more practice would have made everyone feel more comfortable in their roles and perform better. Benne and Sheats (1948) identified 26 different group roles from their article titled Functional Roles of Group Members (Appendix D). They categorised the group roles into three categories; task roles, personal and social roles and dysfunctional or individualistic roles. During the forming stage I believe I was the initiator/contributor as I suggested several ways of perusing our goal and in the norming stage I was the orienter. This is because during this stage I pointed out what else was needed to be included that I felt was missing and at each meeting I suggested what we should complete before leaving. The group all had the same goal which helped us to progress quickly and in addition to this we did not have any dysfunctional roles being played in our group, e.g. a blocker this type of role disagrees with everything being said and inhibits progression. We all wanted to ensure the task was done. Examples of other members roles are; an encourager who praised the group and kept us m otivated and we also had elaborator this role builds on other members ideas. This agreement and support was probably due to a shared common goal. During the formation of groups Hartley and Illingworth (2006) implied that social and emotional effects are often overlooked on individual group members. This was evident when we used the majority rules rule. The thoughts and feelings of the individual/s that were not in the majority whilst voting were not considered. This could cause them to feel inadequate and not worthy of further input. Fujishin (2007:80) suggests that while decisions are being made fast and therefore saving the group time. This does not permit commitment from the entire group as they do not fully agree with the route being taken. He suggests that for entire group commitment an alternative method of deciding would be required. I would be sure to fully listen to other peoples ideas if I was put in the same predicament, rather than immediately have a vote. During one of the set meetings there was one student who could not attend, we continued with the meeting without them. This was unfair to the student as we progressed without his thoughts or feelings. But unfair to the group as the deadline wasn’t extended due to him being unable to attend and this was a setback to the group as a whole. The next meeting took a long time to get going as we had to take the time to explain what he had missed. Continuing without the student lost us time when a the meeting could have been rearranged to a time when everyone could have attended. Listening to individuals ideas and recognising their feelings requires the ability to act upon ones own emotional intelligence. Emotional intelligence is to be aware of and in control of the management of your emotions, reactions, goals, intentions, and those of other people and their feelings (Gloeman 1995, cited in Chapman 2012). Cartney and Rouse (2006, cited in Chapman 2012) supported the benefits of taking into consideration the emotional impact on others. I have learnt that reflection using Gibbs (1988) model and effective communication plays a crucial part of academic learning, day to day and self learning and progression in practice. Bolton (2001, cited in Blabber 2008:62) believes thoughts and feeling are brought out of individuals by writing, that otherwise would not surface. It also facilitates a connection between the classroom and practice that would not otherwise be established (Rolfe et al, cited in Blabber 2008:62). This reflection has taught me to ensure that each individual is heard, encouraged and not left out as this will aid progression to the task in hand. As we can see reflection is important during paramedic practice. This widens our knowledge and encourages better practice (White et al 2005). This can help the paramedic to treat each individual patient with their own specific needs. Emotional intelligence which is realising the effects of your own interpersonal skills and attitude also plays a huge part of giving the right patient in the right place the right treatment at the right time. If this was not used in the correct way you could intentionally or unintentionally hurt someones feelings, resulting in ineffective communication and bad practice. This experience has taught me that camaraderie appears to be a vital component of becoming a successful paramedic. Other theorists also said Reflective practice is deemed an essential skill for future practitioners to learn and perform and pr ovides the framework for transferring and applying learning into different practical scenarios (Fearly, 1999; Duffy, 2009) Changes in Fashion and Technology: Impact of the Internet Changes in Fashion and Technology: Impact of the Internet Urban Fashion Urban cities like New York, Paris, London or Tokyo have too much to offer, there are lots of entertaining varieties of services, while its all depends on the product we buy from the electronic portals (Internet buying). The more opportunities we can have in the big cities or urban areas then in rural area. Its not always about the living as orthodox but sometimes its about the passion and the search of creativity for the destruction of hunger or we can say like to mark the business growth upwards we have to stay in the cosmopolites cities. There is a big connection in between the fashion and the mass populated areas, as the fashion business related peoples are keen to know the taste to develop the products according to the need of the customers as in mass places we can find different kind of peoples with different aesthetic senses. We have e-commerce and Internet which we can relate to the theory of Long tail in terms of culture and idea space now days. By focusing on the individual products could have given us the beneficial approach but also it would leads to the drawback of saturation in the market or in terms of products. Mass customization, through Internet selling would further facilitate the idea and capital earning. In living in the mass populated cities will also give the ecumenical advantages as well as the mass variety to select the suitable strategy for the establishment of the business. Designers and fashion houses would get more prospers in these kind of area that they can offer more as well as they could have more customers to buy the products also cities have usually wide distribution demand becomes concentrated. Cities are the natural house for the shopping malls, super marts, pubs and cinema houses; its easy to find the peoples with idiosyncratic taste from 9 million peoples in the city. (http://en.wikipedia.org, 2005) From retail space to Online The role of shelves in a retail apparel store is same as the normal groceries store or book store. The more the product is visible, the more the product sells. (Anderson, C, 2006) So there is always a great demand for the golden shelves that are just below the eye level. Managing the shelves space is becoming more and more crucial to the retailers. The same is for the fashion retailing also. In fact the shelves have got a more importance in a case of a multi-brand retailer. In most of the cases the ‘new arrivals are given the preference and are placed in the shelves which are most visible to the customers. The retail space has to be managed in a way that the sales generated should be more than the rent of the store itself and in addition it has to make profits. Well this problem can be reduced by removing the activity of buying goods from a store and replacing it by the means of online shopping. By introduction of online shopping, the storage of the products may be moved from a central location to a warehouse outside the cities, where the rent is very minimal. Also according to the latest estimates, by 2020 the retail sales in USA will be a mere 15% of the total sales. This doesnt mean that the retail store sales will be affected until there is a huge shift of the wholesale to the online shopping. (Markham, J. E, 1998) The latest trend is that the retailers are focusing on having very minimal number of products in their stores and maintain a large amount in the central warehouses. The Point of Sales (POS) are tracked daily and based on this, the products are replenished accordingly. The importance of small and large retail stores The hyper marketing store and large retailer shop in recent year shows sign of decline in department store but the number of small size boutique or retailer shops which benefit from accurate interior decoration and adhering the gratification rule of marketing , seems to be increase due to several reason unless location prices and financial issue.( Matthew M. Chew August 2008) As it mention in Small Fashion Boutiques and Retail Change in China wrote by Matthew M. Chew from Department of Sociology, Hong Kong Baptist University Kowloon Tong, Kowloon, HKSAR, China (Project Code: 4450082) †the two advantage of small retail store compare with large retail store categorize in relational marketing and store branding†, although the smaller retail shop cannot pay for expensive advertisement like cooperating with mass media or make use of innovative marketing value and tools due to their low space size and lack of capital but As it mention in Small Fashion Boutiques and Retail Change in China wrote by Matthew M. Chew from Department of Sociology, Hong Kong Baptist University Kowloon Tong, Kowloon, HKSAR, China (Project Code: 4450082) †their small size put them in position to develops relational marketing with their customer much more thoroughly and deeply than lager retail shop†. Relational marketing This concept directly affected the customer retention and maintain reciprocal relation between customer and retailers which strengthening the customer base, obviously the small size retail shop run by one or at least two person which increase the chance for direct communications and relationship with clients which increase the level of trust and service, also the customer loyalty might be increase if the retail shop owner benefit from accurate communication skill or using marketing tricks like put some present or attractive personal massage in cloths or accessory package also building reputation can be based on providing qualified product with affordable prices or offering some exclusive or unique fashion brand or upcoming designing, As it mention in Small Fashion Boutiques and Retail Change in China wrote by Matthew M. Chew from Department of Sociology, Hong Kong Baptist University Kowloon Tong, Kowloon, HKSAR, China (Project Code: 4450082) â€Å"they selling selves not merely the apparel items †. Store branding Indeed the small retail shop try to develop the store as a brand this can happened in two way which are, establishing store brand due to characteristic, opinion and life style of the owner of small retailer shop or through the suitable interior design of physical store or web shops hence the personal afford of the owner essential for building reputation so the owner should has tidy and attractive apparent in any condition and dressed like a fashion guide, the owner should has specific and unique life style with proper communication skill. (Matthew M. Chew August 2008) The store location and the degree of fashion ability combine with suitable decoration are important for small retail store to compete with other retail store in department store most of the small retailer shop are based in the middle flour of department store construction which is provide more comfortable, non invasive environment that customer can focus deeply on designer clothes or accessorise in small retailer shop, the recent matter cause progressing the level of service and reach more potential customer. The small retail shop free to mix and use different brands and they are very flexible on the other hand they cannot benefit from in- store events to increasing the amount of shopping value and overcome competitors but they are able to use proper decoration like exaggerating perspective, 3D dimensional spaces, spot light, light and fade colour even the location of high fashion or popular designer clothes is seems to be important usually they should place in the middle slab of the shelf. (Matthew M. Chew August 2008) Fashion in Department Stores For not long ago people tended to go to fashion stand-alone stores whenever they were looking for fashion articles. The stand-alone stores consisted of one main fashion brand and the articles offered by it. These articles could be anything from basic-collections to the newest collection of the season. Customers preferred to visit these stores and shop whatever they desired from the brand in that specific store. As a result of having a stand-alone store the range of articles within the store was of course wider and also the amount of garments within each collection was greater. And additional opportunity is the fact that stand-alone stores can easier create a whole experience around the brand that is offered by designing the store in that specific way that is appropriate for the that specific brand. (Geo Journal 45:255-264, 1998) The concept of department stores could be seen as one of societies most innovative and influential establishments since it also changed the business world particularly from the mid 1800s to the 1930s. Not only did the concept give birth to the consumption culture but also to the modern shopping center, where everything could be found beneath one roof. Hence, today, as a result of the growing market of fashion and the also the increased knowledge of customers, fashion brands and their products are being demanded in greater markets. Customers are enjoying their opportunity of having the ability to choose from several different brands and products and also to compare. Customers like the bigger format of department hence the retail formats are no longer being seen upon as the best safe option for the retailers. These demands have elaborated in more fashion brands locating themselves within different kind of department stores. (http://www.articlesbase.com, 2009) Luxury fashion brands such as Burberry, Gucci, and Armani have their shop-in-shop stores in Illum department store in Copenhagen. (http://www.illum.eu/, 2009) Moreover, Harrods which can be considered as one of the worlds biggest department stores with over 330 departments of shopping spaces, actually have their motto saying â€Å"Omnia Omnibus Ubique† which basically means â€Å"All Things for All People, Everywhere†. Harrods have a much wider range of brands such as Christian Dior, Oscar De La Renta and Versace, however they also have less luxurious brands such as Adidas and Acne. (http://www.articlesbase.com, 2009) With the establishment of department stores, companies are able to enter a larger market and make their brand more approachable to customers. However, usually in a department store, each and every brand is dealing with a smaller location to display their products in and these locations are called shop-in-shop stores. However, this means that brands have not enough space for all their products, as in their own stand-alone stores. Usually, in this case, the brand would have to choose the specific garments it would prefer to show and sell within that restricted space. The most usual way of selecting these items is to have the most significant items for that specific brand and additionally some basic along with the latest seasons and more procured items. The result would be that each and every brand within the department store would have their restricted space offering only some items from their collections. (Fashion Retail Marketing lecture 2009-11-13) Hence, one can conclude that department stores can look more attractive and also give the customer the awesome feeling that he/she have a lot to choose from, however, by looking deeply into these shop-in-shop stores, one realizes that the variety being offered is not enough, since some articles would always be missing. Online Visual Merchandising Since apparel is a product that needs to be experienced, the visual merchandising of it in online stores is more critical than for other kind of websites offering other products. Hence it is off great importance that the result of visual merchandising in online stores really creates the environment needed for visitors in order for them to obtain that desired experience. It is also important to offer more visual product information and various product presentations, in, for example, colors, styles, and sizes etc. (Ha, Y., Kwon, W.S, Lennon, S. 2006) One of the main problems with physical goods is the categorization of the products within a store. This topic is very important for department stores and their shop-in-shop stores, since the restricted space makes it more crucial to create a successful visual merchandising so that customers can find what they want easily in the logically and visually created environment. (Ha, Y., Kwon, W.S, Lennon, S. 2006) However, with the development of online retailing the concept of categorizing the products has been taken to another level since within online retailing, companies are more independent on their choice of categorizing and visualizing their products. Hence, by giving the customer ability to search for the product online one will actually make it easier for them to find what they are looking for. Additionally the overall customer service can be increased by providing your products online. (www.businessweek.com, 2009) Although many luxury fashion brands are still very cautious about selling their products online, a great amount of them have understood the importance of online retailing and does actually offer their products on pages such as the online fashion boutique Net-a-porter.com. On their website, the customers are both given various ability to look for products in categories such as designers, clothing, shoes, bags, accessories etc and within these categories one find more specific sub-categories, such as for designers one find the names of different designers, for clothing one find dresses, skirts, jackets etc, and these goes on for all categories. However, another way of searching for their products is through the â€Å"search-box† where they can write specifically what they are searching for and easily see if the online store has the product are not. (http://uberkid.typepad.com, 2007) E commerce and its advantage and disadvantage Nowadays most of the fashion brands and company recognised the e-commerce as strong marketing tools due to daily consumption of Internet, available progressive technology, customer awareness and precious time using so it is natural reaction if e -commerce increase among most of the retailer company. (NVision, 2008) These days large number of customer tend to shopping from the web instead of wasting their time in crowded uncomfortable environment such as physical retail store there are different advantages and disadvantages for online shopping, the availability and save time can be recognize as a advantage so the customers can shop whatever they need without facing time limitation, it is easier for customer to find certain style in web shop than the physical store only by searching via essential information such size, colour, type, also client can compare the price of the goods and heat the best choice. (Laudon Traver, 2008, p. 346) The disadvantages of the online shop are the customer cannot touch or test clothes or accessories and that would be a serious problem which increase the product returns, also delivery time is critical for most customer and long delivery time will decrease the level of service and ruin the brand image, the other important thing is, the security of web site should be consider to avoid online rubbing of credit cards information by hackers (Laudon Traver, 2008, pp. 345-355). the retailer can reach more customers via online shopping and there will be no need for rent or buy expensive location for establishing physical store, it is easier for retailer to change the characteristic of their goods like prices and answer to their customers real needs but during online shopping there is no chance to gain benefit from effective communication skills and the web shopper should gain their customer trust in another way than direct relationship. (Laudon Traver, 2008, pp.556-557) CRM-system Online shop can earn profit by using customer relationship management system, this system help the online shop to collect their customer personal information and also their outcome like their opinion and suggestion with correct using of such system it is possible to record the interaction between customer and online shop and company can find out various needs of different customers so the customer loyalty increase dramatically and it have influence on level of service and customer retention, so the company can customize various marketing strategy to cover enlarge demand of e-customer the information collected by phone or email. (Xu Walton 2005) Internet- customer location The retail geography is very important in any business whether it is a groceries store, book store, fashion outlet etc. There are many factors that are taken into consideration while selecting a location of a store. Factors such as the customer concentration, customer behavior, local conditions, transportation network etc are very critical in the selection of a location. Stores that do not consider these factors will not be able to attract the customers. Also the maintenance costs of such store will also be more that the revenues generated by it. Even the physical distribution costs will also be high for such stores which are inaccessible due to very bad transport network/infrastructure. Despite of doing a lot of research for selecting the right location for a store, not all stores are successful. One of the main reasons for this is that the customers are usually distributed over a large geographical location. (Anderson, C, 2006) For such scenarios the online shopping is proving out to be a good alternative. But again the consumer behavior is critical due to the fact that most of the consumers still tend to have a physical touch of the products they buy. Well this can be applied to the fashion industry also. Most of the fashion retailers tend to open their stores mainly in bigger cities that too in prime locations. The bigger cities have higher population density and there is a high tendency of doing a good business. The best examples are location such as 5th Avenue, New York, West End, London etc which are now termed as the shopping districts. (http://en.wikipedia.org) Most of the bigger fashions brands want to open their store in these locations and are ready to pay astronomical prices are rent. One of the main advantages of these locations is that they are easily accessible. Another factor that influences the store location is the consumer behavior. One cannot expect a luxury brand like Gucci or Chanel to do good business at a location which is filled with consumers who do not have a high purchasing power. Also the local conditions such as climate, geography etc also plays a major role. (Markham, J. E, 1998) A skiwear store can do a very good business at locations where there are mountains and snow. The same way the surf wear brand can sell it products only at locations which are nearer to beaches. So Location is very crucial. Over the last decade the best solutions that have evolved for the problems related to customer geography is the Internet. Internet allows the feature called the Online shopping which enables the customers to buy the products from their homes is becoming more and more popular. Online shopping is advantageous for both the retailers and the customers. The main advantage for the retailers is that it allows them to reach the low density customers with the same efficiency as the high density ones. (Anderson, C, 2006) This is the reason that most of the traditional retailers are spending a lot of money in building up their own web shopping applications (For eg: HM, Gina Tricot etc). Some of the success stories are www.nelly.se and www.ellos.se. Though the online shopping is a best way to reach the low density and remote customers, it should be well supported by a good distribution system. Networking in the fashion world Before this television, computers and these virtual medias there were radios, those were knows as the king for the entertainment, there were only few broadcasting stations. But in twentieth century gradually this place was taken by the television and can see this trend fully involved with the human life. TV was the trend driven media before the computer and Internet, the plate form from which we can connect to the whole world is Internet. The relation of the capital earning is connected to the key factor i.e. the more networking you have in terms of marketing the more you earn. For the fashion brands and for the sake of business its more important to have the networking among the social circle of fashion peoples. Aside from using scarce distribution resources promptly or efficiently by aggregating and emphasizing on the customer, now days the strongest Medias are advertising and virtual learning via Internet or television. Once the advertisements or commercial of your product hits th en you can earn money and can touch the blockbusters level. But do you know how to make the hit; there are 2 to achieve this level. Deep search unpredictable genius. Use lowest denominators formula to create optimized product to sell. The principle related as general for the entertainment for last 10 decades was economics and distribution were scarce and the consumer attention was distracted. Its the fact that not everyone can make the movie, broadcast and makes it on air. Those have done it was the opportunity for them to capture the market. As its the sellers market and they can also to afford to waste attention. (www.bbb.org, 2008) The future of Internet in fashion The customer behavior has been changing over time and this also made the retailer to make changes accordingly. The change in the shopping experiences has moved from the traditional bazaars to independent stores/boutiques, and then came the franchisees, then the multi brand retail stores etc. This trend doesnt seem to stops anywhere. But over the last couple of decades the evolution of Internet is changing the whole scenario. (http://en.wikipedia.org) The use of Internet has been expanding at an enormous rate, especially in the last decade. (www.Internetworldstats.com) Of the time the people sit in front of the computer, 80% of the time they spend it on the Internet. The Internet has become a part of lifestyle today. The use of Internet has enables people to do most of their works online sitting in front of the computer. The shopping experience has also been influenced by the Internet mania. The customer prefers to buy the products from the Internet and as per latest estimates the cus tomers in UK spend around 17 pence in every pound they shop. (http://news.bbc.co.uk) This trend is growing and it seems that the future retailing will be dominated by the Internet. The rise of Internet has also caused a lot of dangers. The main disadvantage is that the customers cannot really check the product physically. Especially with the fashion industry, where purchased products look very attractive on retailers webpage but when finally when the products arrives he may not be satisfied with the fabric, fitting etc. So this will make the customers to return the products to the retailer. This situation is a very big problem as most the customers dont know how to return back a product to the retailers, who will be paying the postal charges etc. (http://www.oft.gov.uk) Another disadvantage of Internet shopping is the security and privacy risks. The critical information of the customers such as the name, address, credit card details etc are stored online and if no required security is maintained, there is a high probability of this data ending up in wrong hands. Another problem with the online shopping is the inability to adhere to strict delivery times. Someti mes the products do not arrive at the time the customer wishes and this will create a lot of problems. Improper distribution system is the main cause for these kinds of products. (Anderson, C, 2006) Some other problems are the hidden costs which are advertised as free but carry more price than the original. This usually happens when the retailer advertises products for free but charges high shipping costs than normal. (http://www.oft.gov.uk)

Why Our President Has To Leave :: essays research papers

This is an essay about why I think Bill Clinton should resign, and also why I think he won't. You see, Bill Clinton is a man without morals. Well, actually that's not quite true. He does appear to have morals; he just sacrifices them to expediency whenever the opportunity arises. If absolute selflessness with respect to one's values were a virtue, Bill Clinton would be the most virtuous president the United States has ever had. Fortunately, most people do not hold this view of morality or ethics (I hope!). The majority of people still seem to hold integrity in some esteem. If they do, and I am right about Clinton's complete lack of principles, then hopefully this short essay will find a few receptive minds. Firstly, let me review the evidence for my contention that Clinton should resign or be impeached. Now, to like-minded people, that must sound like an almost interminable proposition. Don't worry though, I will limit it to just the "bare" facts of the Lewinsky affair. 1. Bill Clinton had sex with an intern in the White House. 2. He lied under oath in a deposition to a grand jury. 3. He lied to the American people. 4. He attempted to cover up his illicit affair, and obstruct an investigation. Do these offences merit his impeachment or resignation? The primary defense of his actions has been the argument that what he does in his private life does not affect the fulfillment of his public duties as President. It's not hard to knock this contention on the head. Clinton is a public employee. Consider what would happen to any employee caught having sex with one of his staff in his office, during work hours. You'd get very short odds on whether he'd last the rest of the day. Being President of the United States of America is probably the most important job in the world. It carries enormous power, influence and prestige. It consequently necessitates a commensurate level of responsibility and gravity. And here we have a President conducting a year long affair with an intern less than half his age. Yes, the President is entitled to have a private life. But, no President is entitled to put his private life ahead of the interests of the nation. And Bill Clinton was clearly more interested in attending to Miss Lewinsky than to the affairs of the nation. So, whether or not you think Presidents are elected to show moral as well as political leadership, one cannot escape the fact that Clinton subjugated his public responsibilities to his private interests.

The Financial System of Bangladesh

Overview of Financial system of Bangladesh The financial system of Bangladesh is comprised of three broad fragmented sectors: 1. Formal Sector, 2. Semi-Formal Sector, 3. Informal Sector. The sectors have been categorized in accordance with their degree of regulation. The formal sector includes all regulated institutions like Banks, Non-Bank Financial Institutions (FIs), Insurance Companies, Capital Market Intermediaries like Brokerage Houses, Merchant Banks etc. ; Micro Finance Institutions (MFIs).The semi formal sector includes those institutions which are regulated otherwise but do not fall under the jurisdiction of Central Bank, Insurance Authority, Securities and Exchange Commission or any other enacted financial regulator. This sector is mainly represented by Specialized Financial Institutions like House Building Finance Corporation (HBFC), Palli Karma Sahayak Foundation (PKSF), Samabay Bank, Grameen Bank etc. , Non Governmental Organizations (NGOs and discrete government progra ms. About financial MarketThe financial market in Bangladesh is mainly of following types: 1. Money Market: The primary money market is comprised of banks, FIs and primary dealers as intermediaries and savings & lending instruments, treasury bills as instruments. There are currently 15 primary dealers (12 banks and 3 FIs) in Bangladesh. The only active secondary market is overnight call money market which is participated by the scheduled banks and FIs. The money market in Bangladesh is regulated by Bangladesh Bank (BB), the Central Bank of Bangladesh. . Capital market: The primary segment of capital market is operated through private and public offering of equity and bond instruments. The secondary segment of capital market is institutionalized by two (02) stock exchanges-Dhaka Stock Exchange and Chittagong Stock Exchange. The instruments in these exchanges are equity securities (shares), debentures, corporate bonds and treasury bonds. The capital market in Bangladesh is governed by Securities and Commission (SEC). 3.Foreign Exchange Market: Towards liberalization of foreign exchange transactions, a number of measures were adopted since 1990s. Bangladeshi currency, the taka, was declared convertible on current account transactions (as on 24 March 1994), in terms of Article VIII of IMF Article of Agreement (1994). As Taka is not convertible in capital account, resident owned capital is not freely transferable abroad. Repatriation of profits or disinvestment proceeds on non-resident FDI and portfolio investment inflows are permitted freely.Direct investments of non-residents in the industrial sector and portfolio investments of non-residents through stock exchanges are repatriable abroad, as also are capital gains and profits/dividends thereon. Investment abroad of resident-owned capital is subject to prior Bangladesh Bank approval, which is allowed only sparingly. Bangladesh adopted Floating Exchange Rate regime since 31 May 2003. Under the regime, BB does not interfere in the determination of exchange rate, but operates the monetary policy prudently for minimizing extreme swings in exchange rate to avoid adverse repercussion on the domestic economy.The exchange rate is being determined in the market on the basis of market demand and supply forces of the respective currencies. In the forex market banks are free to buy and sale foreign currency in the spot and also in the forward markets. However, to avoid any unusual volatility in the exchange rate, Bangladesh Bank, the regulator of foreign exchange market remains vigilant over the developments in the foreign exchange market and intervenes by buying and selling foreign currencies whenever it deems necessary to maintain stability in the foreign exchange market.Regulators of the Financial System Central Bank Bangladesh Bank acts as the Central Bank of Bangladesh which was established on December 16, 1972 through the enactment of Bangladesh Bank Order 1972- President’s Order No. 127 o f 1972 (Amended in 2003). The general superintendence and direction of the affairs and business of BB have been entrusted to a 9 members' Board of Directors which is headed by the Governor who is the Chief Executive Officer of this institution as well. BB has 40 departments and 9 branch offices.In Strategic Plan (2010-2014), the vision of BB has been stated as, â€Å"To develop continually as a forward looking central bank with competent and committed professionals of high ethical standards, conducting monetary management and financial sector supervision to maintain price stability and financial system robustness, supporting rapid broad based inclusive economic growth, employment generation and poverty eradication in Bangladesh†. The main functions of BB are (Section 7A of BB Order, 1972) – 1. to formulate and implement monetary policy; 2. o formulate and implement intervention policies in the foreign exchange market; 3. to give advice to the Government on the interact ion of monetary policy with fiscal and exchange rate policy, on the impact of various policy measures on the economy and to propose legislative measures it considers necessary or appropriate to attain its objectives and perform its functions; 4. to hold and manage the official foreign reserves of Bangladesh; 5. to promote, regulate and ensure a secure and efficient payment system, including the issue of bank notes; 6. o regulate and supervise banking companies and financial institutions. Core Policies of Central Bank Monetary policy The main objectives of monetary policy of Bangladesh Bank are: †¢Price stability both internal & external †¢Sustainable growth & development †¢High employment †¢Economic and efficient use of resources †¢Stability of financial & payment system Bangladesh Bank declares the monetary policy by issuing Monetary Policy Statement (MPS) twice (January and July) in a year.The tools and instruments for implementation of monetary policy in Bangladesh are Bank Rate, Open Market Operations (OMO), Repurchase agreements (Repo) & Reverse Repo, Statutory Reserve Requirements (SLR & CRR). Reserve Management Strategy Bangladesh Bank maintains the foreign exchange reserve of the country in different currencies to minimize the risk emerging from widespread fluctuation in exchange rate of major currencies and very irregular movement in interest rates in the global money market.BB has established Nostro account arrangements with different Central Banks. Funds accumulated in these accounts are invested in Treasury bills, repos and other government papers in the respective currencies. It also makes investment in the form of short term deposits with different high rated and reputed commercial banks and purchase of high rated sovereign/supranational/corporate bonds. A separate department of BB performs the operational functions regarding investment which is guided by investment policy set by the BB's Investment Committee headed by a Deputy Governor.The underlying principle of the investment policy is to ensure the optimum return on investment with minimum market risk. Interest Rate Policy Under the Financial sector reform program, a flexible interest policy was formulated. According to that, banks are free to charge/fix their deposit (Bank /Financial Institutes) and Lending (Bank /Financial Institutes) rates other than Export Credit. At present, except Pre-shipment export credit and agricultural lending, there is no interest rate cap on lending for banks.Yet, banks can differentiate interest rate up to 3% considering comparative risk elements involved among borrowers in same lending category. With progressive deregulation of interest rates, banks have been advised to announce the mid-rate of the limit (if any) for different sectors and the banks may change interest 1. 5% more or less than the announced mid-rate on the basis of the comparative credit risk. Banks upload their deposit and lending interest rate in their respective website. Capital Adequacy for Banks and FIsWith a view to strengthening the capital base of banks & FIs, Basel-II Accord has been introduced in both of these sectors. For banks, full implementation of Basel-II was started in January 01, 2010 (Guidelines on Risk Based Capital Adequacy for banks). Now, scheduled banks in Bangladesh are required to maintain Tk. 4 billion or 10% of Total Risk Weighted Assets as capital, whichever is higher. For FIs, full implementation of Basel-II has been started in January 01, 2012 (Prudential Guidelines on Capital Adequacy and Market Discipline (CAMD) for Financial Institutions).Now, FIs in Bangladesh are required to maintain Tk. 1 billion or 10% of Total Risk Weighted Assets as capital, whichever is higher. Deposit Insurance The deposit insurance scheme (DIS) was introduced in Bangladesh in August 1984 to act as a safety net for the depositors. All the scheduled banks Bangladesh are the member of this scheme Bank Deposit Insurance A ct 2000. The purpose of DIS is to help to increase market discipline, reduce moral hazard in the financial sector and provide safety nets at the minimum cost to the public in the event of bank failure.A Deposit Insurance Trust Fund (DITF) has also been created for providing limited protection (not exceeding Taka 0. 01 million) to a small depositor in case of winding up of any bank. The Board of Directors of BB is the Trustee Board for the DITF. BB has adopted a system of risk based deposit insurance premium rates applicable for all scheduled banks effective from January – June 2007. According to new instruction regarding premium rates, problem banks are required to pay 0. 09 percent and private banks other than the problem banks and state owned commercial banks are required to pay 0. 7 percent where the percent coverage of the deposits is taka one hundred thousand per depositor per bank. With this end in view, BB has already advised the banks for bringing DIS into the notice of the public through displaying the same in their display board. Insurance Authority Insurance Development and Regulatory Authority (IDRA) was instituted on January 26, 2011 as the regulator of insurance industry being empowered by Insurance Development and Regulatory Act, 2010 by replacing its predecessor, Chief Controller of Insurance.This institution is operated under Ministry of Finance and a 4 member executive body headed by Chairman is responsible for its general supervision and direction of business. IDRA has been established to make the insurance industry as the premier financial service provider in the country by structuring on an efficient corporate environment, by securing embryonic aspiration of society and by penetrating deep into all segments for high economic growth.The mission of IDRA is to protect the interest of the policy holders and other stakeholders under insurance policy, supervise and regulate the insurance industry effectively, ensure orderly and systematic growth of the insurance industry and for matters connected therewith or incidental thereto. Regulator of Capital Market Intermediaries Securities and Exchange Commission (SEC) performs the functions to regulate the capital market intermediaries and issuance of capital and financial instruments by public limited companies.It was established on June 8, 1993 under the Securities and Exchange Commission Act, 1993. A 5 member commission headed by a Chairman has the overall responsibility to administer securities legislation and the Commission is attached to the Ministry of Finance. The mission of SEC is to protect the interests of securities investors, to develop and maintain fair, transparent and efficient securities markets and to ensure proper issuance of securities and compliance with securities laws. The main functions of SEC are: †¢Regulating the business of the Stock Exchanges or any other securities market. Registering and regulating the business of stock-brokers, sub-broke rs, share transfer agents, merchant bankers and managers of issues, trustee of trust deeds, registrar of an issue, underwriters, portfolio managers, investment advisers and other intermediaries in the securities market. †¢Registering, monitoring and regulating of collective investment scheme including all forms of mutual funds. †¢Monitoring and regulating all authorized self regulatory organizations in the securities market. †¢Prohibiting fraudulent and unfair trade practices in any securities market. Promoting investors’ education and providing training for intermediaries of the securities market. †¢Prohibiting insider trading in securities. †¢Regulating the substantial acquisition of shares and take-over of companies. †¢Undertaking investigation and inspection, inquiries and audit of any issuer or dealer of securities, the Stock Exchanges and intermediaries and any self regulatory organization in the securities market. †¢Conducting researc h and publishing information. Regulator of Micro Finance InstitutionsTo bring Non-government Microfinance Institutions (NGO-MFIs) under a regulatory framework, the Government of Bangladesh enacted â€Å"Microcredit Regulatory Authority Act, 2006’† (Act no. 32 of 2006) which came into effect from August 27, 2006. Under this Act, the Government established Microcredit Regulatory Authority (MRA) with a view to ensuring transparency and accountability of microcredit activities of the NGO-MFIs in the country. The Authority is empowered and responsible to implement the said act and to bring the microcredit sector of the country under a full-fledged regulatory framework.MRA’s mission is to ensure transparency and accountability of microfinance operations of NGO-MFIs as well as foster sustainable growth of this sector. In order to achieve its mission, MRA has set itself the task to attain the following goals: †¢To formulate as well as implement the policies to ensu re good governance and transparent financial systems of MFIs. †¢To conduct in-depth research on critical microfinance issues and provide policy inputs to the government consistent with the national strategy for poverty eradication. To provide training of NGO-MFIs and linking them with the broader financial market to facilitate sustainable resources and efficient management. †¢To assist the government to build up an inclusive financial market for economic development of the country. †¢To identify the priorities in the microfinance sector for policy guidance and dissemination of information to attain the MRA’s social responsibility. According to the Act, the MRA will be responsible for the three primary functions that will need to be carried out, namely: †¢Licensing of MFIs with explicit legal powers; Supervision of MFIs to ensure that they continue to comply with the licensing requirements; and †¢Enforcement of sanctions in the event of any MFI failing to meet the licensing and ongoing supervisory requirements. Banks After the independence, banking industry in Bangladesh started its journey with 6 Nationalized commercialized banks, 2 State owned Specialized banks and 3 Foreign Banks. In the 1980's banking industry achieved significant expansion with the entrance of private banks.Now, banks in Bangladesh are primarily of two types: †¢Scheduled Banks: The banks which get license to operate under Bank Company Act, 1991 (Amended in 2003) are termed as Scheduled Banks. †¢Non-Scheduled Banks: The banks which are established for special and definite objective and operate under the acts that are enacted for meeting up those objectives, are termed as Non-Scheduled Banks. These banks cannot perform all functions of scheduled banks. There are 47 scheduled banks in Bangladesh who operate under full control and supervision f Bangladesh Bank which is empowered to do so through Bangladesh Bank Order, 1972 and Bank Company Act, 1991. S cheduled Banks are classified into following types: †¢State Owned Commercial Banks (SOCBs): There are 4 SOCBs which are fully or majorly owned by the Government of Bangladesh. Nationalized Commercial Bank of Bangladesh: †¢Sonali Bank †¢Agrani Bank †¢Rupali Bank †¢Janata Bank †¢ †¢Specialized Banks (SDBs): 9 specialized banks are now operating which were established for specific objectives like agricultural or industrial development. These banks are also fully or majorly owned by the Government of Bangladesh. . Karmasangsthan Bank 2. Bangladesh Krishi Bank 3. Rajshahi Krishi Unnayan Bank 4. Progoti Co-operative Landmortgage Bank Limited (Progoti BanK) 5. Grameen Bank 6. Bangladesh Development Bank Ltd 7. Bangladesh Somobay Bank Limited(Cooperative Bank) 8. Ansar VDP Unnyan Bank 9. BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank Limited †¢ †¢Private Commercial Banks (PCBs): There are 37 private commercial banks which are m ajorly owned by the private entities. PCBs can be categorized into two groups: 1. United Commercial Bank Limited 2. Mutual Trust Bank Limited 3. BRAC Bank Limited . Eastern Bank Limited 5. Dutch-Bangla Bank Limited 6. Dhaka Bank Limited 7. Islami Bank Bangladesh Ltd 8. Uttara Bank Limited 9. Pubali Bank Limited 10. IFIC Bank Limited 11. National Bank Limited 12. The City Bank Limited 13. NCC Bank Limited 14. Mercantile Bank Limited 15. Prime Bank Limited 16. Southeast Bank Limited 17. Al-Arafah Islami Bank Limited 18. Social Islami Bank Limited 19. Standard Bank Limited 20. One Bank Limited 21. Exim Bank Limited 22. Bangladesh Commerce Bank Limited 23. First Security Islami Bank Limited 24. The Premier Bank Limited 25. Bank Asia Limited 26.Trust Bank Limited 27. Shahjalal Islami Bank Limited 28. Jamuna Bank Limited 29. ICB Islamic Bank 30. AB Bank 31. Social Investment Bank Ltd 32. Union Bank 33. Modhumati Bank 34. The Farmers' Bank 35. Midland Bank 36. Meghna Bank 37. South Bangla Agriculture and Commerce Bank †¢Conventional PCBs: 23 conventional PCBs are now operating in the industry. They perform the banking functions in conventional fashion interest based operations. †¢Islami Shariah based PCBs: There are 7 Islami Shariah based PCBs in Bangladesh and they execute banking activities according to Islami Shariah based principles i. . Profit-Loss Sharing (PLS) mode. . †¢Foreign Commercial Banks (FCBs): 10 FCBs are operating in Bangladesh as the branches of the banks which are incorporated in abroad. 10 foreign commercial banks are operating in Bangladesh. These are – 1. Citibank 2. HSBC 3. Standard Chartered Bank 4. Commercial Bank of Ceylon 5. State Bank of India 6. Habib Bank Limited 7. National Bank of Pakistan 8. Woori Bank 9. Bank Alfalah 10. ICICI Bank There are now 4 non-scheduled banks in Bangladesh which are: †¢Ansar VDP Unnayan Bank, †¢Karmashangosthan Bank, †¢Probashi Kollyan Bank, †¢Jubilee Bank FIsNon Bank Financial Institutions (FIs) are those types of financial institutions which are regulated under Financial Institution Act, 1993 and controlled by Bangladesh Bank. Now, 31 FIs are operating in Bangladesh while the maiden one was established in 1981. Out of the total, 2 is fully government owned, 1 is the subsidiary of a SOCB, 13 were initiated by private domestic initiative and 15 were initiated by joint venture initiative. Major sources of funds of FIs are Term Deposit (at least six months tenure), Credit Facility from Banks and other FIs, Call Money as well as Bond and Securitization.The major difference between banks and FIs are as follows: †¢FIs cannot issue cheques, pay-orders or demand drafts. †¢FIs cannot receive demand deposits, †¢FIs cannot be involved in foreign exchange financing, †¢FIs can conduct their business operations with diversified financing modes like syndicated financing, bridge financing, lease financing, securitization instruments, privat e placement of equity etc. Capital market After the independence, establishment of Dhaka Stock Exchange (formerly East Pakistan Stock Exchange) initiated the pathway of capital market intermediaries in Bangladesh.In 1976, formation of Investment Corporation of Bangladesh opened the door of professional portfolio management in institutional form. In last two decades, capital market witnessed number of institutional and regulatory advancements which has resulted diversified capital market intermediaries. At present, capital market intermediaries are of following types: 1. Stock Exchanges: Apart from Dhaka Stock Exchange, there is another stock exchange in Bangladesh that is Chittagong Stock Exchange established in 1995. 2.Central Depository: The only depository system for the transaction and settlement of financial securities, Central Depository Bangladesh Ltd (CDBL) was formed in 2000 which conducts its operations under Depositories Act 1999, Depositories Regulations 2000, Depository (User) Regulations 2003, and the CDBL by-laws. 3. Stock Dealer/Sock Broker: Under SEC (Stock Dealer, Stock Broker & Authorized Representative) Rules 2000, these entities are licensed and they are bound to be a member of any of the two stock exchanges. At present, DSE and CSE have 238 and 136 members respectively. . Merchant Banker & Portfolio Manager: These institutions are licensed to operate under SEC (Merchant Banker & Portfolio Manager Rules) 1996 and 45 institutions have been licensed by SEC under this rules so far. 5. Asset Management Companies (AMCs): AMCs are authorized to act as issue and portfolio manager of the mutual funds which are issued under SEC (Mutual Fund) Rules 2001. There are 15 AMCs in Bangladesh at present. 6. Credit Rating Companies (CRCs): CRCs in Bangladesh are licensed under Credit Rating Companies Rules, 1996 and now, 5 CRCs have been accredited by SEC. 7.Trustees/Custodians: According to rules, all asset backed securitizations and mutual funds must have an accredited trusty and security custodian. For that purpose, SEC has licensed 9 institutions as Trustees and 9 institutions as custodians. 8. Investment Corporation of Bangladesh (ICB): ICB is a specialized capital market intermediary which was established in 1976 through the ordainment of The Investment Corporation of Bangladesh Ordinance 1976. This ordinance has empowered ICB to perform all types of capital market intermediation that fall under jurisdiction of SEC. ICB has three subsidiaries: 8. 1.ICB Capital Management Ltd. , 8. 2. ICB Asset Management Company Ltd. , 8. 3. ICB Securities Trading Company Ltd. Insurance Insurance sector in Bangladesh emerged after independence with 2 nationalized insurance companies- 1 Life & 1 General; and 1 foreign insurance company. In mid 80s, private sector insurance companies started to enter in the industry and it got expanded. Now days, 62 companies are operating under Insurance Act 2010. Out of them- †¢18 are Life Insurance Compani es including 1 foreign company and 1 is state-owned company, †¢44 General Insurance Companies including 1 state-owned company.Insurance companies in Bangladesh provide following services: 1. Life insurance, 2. General Insurance, 3. Reinsurance, 4. Micro-insurance, 5. Takaful or Islami insurance. Micro Finance Institutions (MFIs) The member-based Microfinance Institutions (MFIs) constitute a rapidly growing segment of the Rural Financial Market (RFM) in Bangladesh. Microcredit programs (MCP) in Bangladesh are implemented by various formal financial institutions (nationalized commercial banks and specialized banks), specialized government organizations and Non-Government Organizations (NGOs).The growth in the MFI sector, in terms of the number of MFI as well as total membership, was phenomenal during the 1990s and continues till today. Despite the fact that more than a thousand of institutions are operating microcredit programs, but only 10 large Microcredit Institutions (MFIs) a nd Grameen Bank represent 87% of total savings of the sector and 81% of total outstanding loan of the sector. Through the financial services of microcredit, the poor people are engaging themselves in various income generating activities and around 30 million poor people are directly benefited from microcredit programs.Credit services of this sector can be categorized into six broad groups: i) general microcredit for small-scale self employment based activities, ii) microenterprise loans, iii) loans for ultra poor, iv) agricultural loans, v) seasonal loans, and vi) loans for disaster management. Currently, 599 institutions (as of October 10 2011) have been licensed by MRA to operate Micro Credit Programs. But, Grameen Bank is out of the jurisdiction of MRA as it is operated under a distinct legislation- Grameen Bank Ordinance, 1983. Recent Developments in Financial Sector of BangladeshAutomation and Technological Development: Banking sector experienced remarkable progress in respect of automation in functioning in last several years. For the pro-active and forward-visioning approach of Bangladesh Bank, numbers of automation initiatives have been implemented in banking sector. These initiatives include: †¢To create a disciplined environment for borrowing, the automated Credit Information Bureau (CIB) service provides credit related information for prospective and existing borrowers. With this improved and efficient system, risk management will be more effective.Banks and financial institutions may furnish credit information to CIB database 24 by 7 around the year; and they can access credit reports from CIB online instantly. †¢L/C Monitoring System has been introduced for preservation and using the all necessary information regarding L/C by the banks through BB website. This system allows the authorized users of banks to upload and download their L/C information. †¢ In terms of article 36(3) of Bangladesh Bank Order, 1972, all scheduled banks are subject to submit Weekly Statement of Position as at the close of business on every Thursday to the Department of Off-site Supervision.This statement now is submitted through on-line using the web upload service of BB website within o3 (three) working days after the reporting date which is much more time and labor efficient that the earlier manual system. †¢The e-Returns service has been introduced which is An Online Portal Service for Scheduled Banks to submit Electronic Returns using predefined template for the purpose of Macro Economy Analysis through related BB Departments. †¢Online Export Monitoring System is used for monitoring export of Bangladesh. Through this service, Banks and AD Branches of Banks issue & reports export report. Bangladesh Automated Clearing House (BACH) started to work by replacing the ancient manual clearing system which allows the inter-bank cheques and similar type instruments to be to settled in instant manner. †¢Electronic Fund Transfer (EFT) has been introduced which facilitates the banks to make bulk payments instantly and using least paper and manpower. †¢The initiation of Mobile Banking has been one of the most noteworthy advancement in banking. Through this system, franchises of banks through mobile operators can provide banking service to even the remotest corner of the country. Almost every commercial bank is now using their own core banking solution which has made banking very faster and efficient. Usage of plastic money has much more increased in daily life transactions. Full or partial online banking is now being practiced by almost every bank. Inauguration of internet trading in both of the bourses (DSE & CSE) in the country is the most significant advancement for capital market in last several years. Micro Finance Institutions submit their reports to the regulator through the Online Report Submission Tools for MFIs. Institutional Development:Through the Central Bank Strengthening Project, there ha ve been a good number of achievements regarding the institutional development in BB which can be observed below: †¢The implementation of Enterprise Resource Planning (ERP) has been a big step in automation of operational structure of BB. †¢The establishment of Enterprise Data Warehouse (under process) will bring the whole banking and FI industry under a single network through which data sharing, reporting and supervision will enter in a new horizon. †¢Bangladesh Bank now possesses the most informative and resourceful website of the country regarding economic and financial information. Internal networking system with required online communication facilities have been developed and in operation for the officers of BB. †¢BB has hosted number of international seminars on different economic and financial issues over last several years. MRA was established in 2006 for bringing NGO-MFIs under supervision. For the pro active role of MRA, this sector (MFI) is now in a goo d shape regarding the accountability and regulation. For abolishing anomaly and fetching discipline in insurance industry, IDRA was established in 2011.In one year, IDRA has taken number of appreciable steps to regularize this industry. After the massive crash of local bourses in 2010-2011, the executive body of SEC was redesigned in full and some good results have come after that. Regulatory Development: Banking and FI industries have experienced diversified regulatory development over last few years: †¢Full implementation of Basel-II (International capital adequacy standard) accord has been in effect in both banking and FI industry. †¢Guidelines on Environmental and Climate Change Risk Management for banks and FIs have been circulated.Policy guidelines on Green Banking also have been issued. †¢Guidelines on Stress Testing for banks and FIs have been issued which is aimed to assess the resilience of banks and FIs under different adverse situations. †¢Number of P olicy initiatives for Financial Inclusion has been undertaken. †¢Banks have been asked to build up separate Risk Management Unit for comprehensive and intensive risk management. †¢Banks have been instructed to create separate subsidiary for capital market operations and capital market operations of banks are now minutely monitored. Supervision has been intensified to increase the participation of banks in Corporate Social Responsibility (CSR). †¢For the efficient and timely action of BB, foreign exchange reserve of Bangladesh did not face any adversity during global financial turmoil of 2007-09. †¢To meet international standard on Anti Money Laundering (AML)/Combating Financing of Terrorism (CFT) issues, guidelines for Money Changers, Insurance Companies and Postal Remittance have already been circulated. SEC has updated Public Issue Rules, 2006 and Mutual Fund Rules, 2001.Apart from that, numbers of AMCs, merchant banks and are Mutual Funds are permitted by SEC which has increased the participation of institutional investors. The trend of capital market research has been upward which indicates the potential of analytical investment decision. Insurance Act 2010 was formulated to meet demand of concurrent time for shifting the insurance industry in a better shape. Apart from that, several initiatives have been undertaken by IDRA for prohibiting the malpractices in the industry regarding insurance commission, agent, premium etc and corporate governance issues.Banks As on June 2011 Deposits AdvancesTotal Capital*No. of Branches 4115855. 50 Million3212848. 70 Million461697. 00 Million7772 FIs As on December 2010 Deposits Loans and leasesAssetsShare Capital & ReserveNo. of Branches 94374. 80 Million321284. 87 Million251527. 34 Million44689. 29 Million115 Insurance As on December 2009 AssetShare CapitalReserve Life Insurance118020. 15 Million1245. 54 Million106098. 88 Million Non-Life Insurance42622. 90 Million6653. 83 Million12133. 30 Million Ca pital MarketMarket Capitalization of Dhaka Stock Exchange As on September 2011 All Listed Securities2,782,901Million All Listed Companies Shares2,202,274 Million All Listed Mutual Funds35,733 Million All Debentures576 Million All Listed Govt. T-Bonds537,381 Million All Listed Corporate Bonds6,937 Million MFIs As on June 2009 Total Outstanding Number of ClientsNumber of BorrowersNo. of Branches 1,21,881. 85 Million24. 77 Million19. 50Million 18,022 * Sum of Tier-I, Tier-II and Tier-II Capital Components Related article: Padma Bridge