Company Law Essay

Promoters, as defined in Twycross v Grant (1877) 2 CPD 469, are persons who involved in the incorporation of a company. And the common law has extended the scope of â€Å"promoter† further in Tracy v Mandalay Pty Ltd (1953) 88 CLR 215. In this case, the High Court held that the promoters are not just these persons who take an active part in the formation process, but also these who profits from the operation of the company with a passive role. Applying this doctrine to the case study, Alicia can be regarded as one of the promoters of Batco Ltd, since she had involved in the formation of the company and ranked as one of the three directors after the registration. It’s also noticeable that the other two directors, Adam and Robin, were former employees of Alicia. Thus, even though Alicia didn’t play an active role in the formation of the company, the connection between her and Batco before and after the registration was solid. According to Aequilas v AEFC (2011) 19T ACLC 1006, the legal consequence of a person being identified as a promoter is that such person owes stringent fiduciary duties to the company and its shareholders. They are required to act in good faith and place the company’s benefits over their own (Harris, Hargovan and Adams 2011). More specifically, in Erlanger v New Sombero Phosphate Co (1878) 3 CA 1218, the House of Lords held that promoters have the duty of fully disclosure to a board of independent directors of the material facts when they enter into contract relations with the company; Or, as stated in the in Aequilas v AEFC (2011) 19T ACLC 1006, the court also accepts an explicit disclosure made to shareholders. Taking these judgments into account, Alicia, as a director of Batco Ltd, as well as a promoter, breached her fiduciary duties. Because Alicia, as a party to the contract with Batco, didn’t make known the notification she received from a government clerk to the company before they entered into the co ntract. Although without official announcement, the rezoning of the area was only a speculation, the unveiling of this information could prevent Batco from buying the site at that price, as the reassigned area could have a change in value. What more, a secret profit was obtained by Alicia in the selling of property. Despite that she made a disclosure of the actual profit she earned to Adam and Robin, these two directors could not fall into the group of independent directors. Additionally, even after Alicia had informed them about her real gain, in the prospectus Batco Ltd made to its shareholders, the profit  number was falsely presented. Thus, Alicia also contravened the promoter’s duty of disclosure to the company’s shareholders. Once the breach of fiduciaries is established, Batco Ltd and its shareholders can sue Alicia, Adam and Robin for remedies. Under s 729(1) in Corporation Act 2011(Cth), the damaged party has right to recover the amount of the loss or damage resulting from contravention of duty of disclosure. And under s 729(3), the time for taking a legal action under s 729(1) is limited to in 6 years after the happening of the breach of disclosure duty. In Erlanger v New Sombeoro Phosphate Co (1878) 3 CA 1218, the judgment rescinded the initial contract and the damaged party was allowed to recover the purchase price. Similarly, in Glukstein v Barnes (1900) AC 240, a promoter was required to account to the company on the secret profit he realized from the breach of fiduciary duties without voiding the contract. Therefore, one likely outcome in this case study is Batco and its shareholders suing Alicia to rescind the purchase contract within 6 years after the happening of the breach of disclosure duty. As a result, Batco can recover the purchase price and return the site to the vendor, Alicia. Another possibility is Batco suing Alicia for breach of fiduciary duties and only require her account to the company for the secret gain. However, considering the unpredictable effect of rezoning on the purchased site, the former one would be a better option for Batco. According to Frino and Segara (2012), there are two elements of transaction costs, being the explicit and implied c osts. Explicit costs include brokerage fees, exchange fees and government taxes which will not be discussed in this report as the trading exercise was performed without incurring such costs. Implied costs emerge when share prices become unfavourable due to effect of the share trades. These unfavourable expenses are difficult to estimate and deduce as they usually happen in a random manner (Frino and Segara, 2012). There are three types of implied costs which will be discussed below. Firstly, every trader will be exposed to bid-ask spreads (Frino and Segara, 2012). Bid-ask spreads are the gaps between the highest purchase price and the lowest selling price at which the dealers are keen to trade upon. Thus, the median of the bid-ask spread is deemed as the reasonable price.  According to Frino and Segara (2012), when a dealer needs to complete a particular transaction urgently, the deemed reasonable price mentioned above will be forgone as the dealer will require immediate liquidity by purchasing or selling the shares at the stated bid or ask price. There are many ways and choices for a company of fundraising their commercial scheme and activities. One of the choices is through corporate fundraising to offer securities to attract public and outside investors. The statutory provisions in related to the process is located under Ch 6D. Under the Corporate Law Economic Reform Program Act 1999, the required standard full-disclosure document while public companies undertaking fundraising is as prospectus (zuozhe 267). In the case, Jaan Company wants to expand its market and decides raising funds through offering securities and has two options to choose: the first one is raising 10 million and keeps domestic; another one is raising 20 million and expand international. They decide to use offer securities to raise fund which means they will need to face a standard required prospectus to the public. According to Section 709, there are four types of disclosure documents. First is prospectus, which is the most common form of disclosure docu ment and under Ch 6D s709 (1), it must generally be prepared for an offer of securities. However, if the raising capital fund is not exceeding 10 million, the prospectus is not compulsory to be prepared.   The second type is short form prospectus. This type is permitted to reduce the length and complication of prospectus that are distributed to potential investors. The third type is an offer information statement. Under an offer information statement, the amount to be raised from the issue of securities is 10 million or less. The last one is profile statements. This type is prepared as an addition to a prospectus and a reform to simplify policy objective and reduce the volume of disclosure objects. Under the circumstance, for the option 1, an offer information statement is appropriate. The offer information statement is comparative simplified and according to the Corporations Acts, it is intended to facilitate more efficient capital raising, especially for start-up and small and medium sized enterprises(zuozhe, 268). The disclosure requirements are lower level than for a prospectus. Under offer information statements, the company is required to state the information about the compa ny (including  explain the company’s business and the nature of securities, the financial audited statements within the previous 6 months), explain why the company needs to fundraising, disclose details about risks involved and all amount payable. In addition, it also must state to investors that it’s different and lower level compare with prospectus, remind the investors should acquire professional advice. Furthermore, the copy has been lodged with ASIC who takes no responsibility for its contents is required. For option 2, a detailed, full-disclosure prospectus is required. The obligations are concluded as following (zuozhe, 266): firstly, all the information, which is also guaranteed reliable and available at the same time, need to be provided in a prospectus to all investors that they might realistically need to know in order to make a decision about the company’s investment proposal; secondly, the documents must enclose all the risks associated with the c oncerned industry in which the company operates; thirdly, it is necessary that the disclosure of material information is in an effective way for fundraiser to undertake inquiries as well as disclose details which can enable investors to make a more accurate assessments about securities in a cost-effective way. I will recommend option 1in this case. Jaan is a small manufacturing business and not a mature company; it has not enough experience and comparative low capital base as well less able to meet the costs of raising capital. Compare with mature company, Jaan is less able to meet the risks to challenge the market changes and adapt quickly. Offer information is particularly suitable for the small and mid-sized enterprises; it has lower requirements than prospectus and also more flexible for the company. Part 2 According to S 728, if a disclosure document has following characteristics, then it would contravene: misleading or deceptive conduct; omission form; a circumstance that is required to disclose in the document but the company has not and the circumstance is raised as a problem. In this case, Jaan has a very positive forecast in the sales and profit in the following years; however, it has not happened. The company said the market needs of snowboarding are huge and the company has confidence to forecast that they have made a right choice. Unfortunately, the company is circulated these forecast without reasonable basis and inadequate marketing research. Furthermore, in order to attract investors, the company is using New Zealand’s snowboarding popularity diagram rather than global or Australia. Under this circumstance, the company has misled the investors and make them have a wrong perception of the company’s vision. In addition, the company also comes out a new circumstance: abnormal weather patterns caused by global warming will make the company to face a huge loss. This is unexpected but this circumstance should have been disclosed in the document. Under the Ch 6D, the company should disclose all the relevant risks to enable the investors to make a cautious decision. Nevertheless, the company only focus on the bright side of the future and miss to present the potential external factors that may influence the sales of the company. All these would be the facts that the company’s disclose document has contravened and will face a remedy for the investors.Similar case for Jaan’s investors can look at is Cad ence Asset Management Pty Ltd v Concept Sports Ltd (2005): the defendant were misleading the investors about the company’s outlook, the court decision is disagree the defendant’s defence and upheld the plaintiff to recover the loss suffered. Defendants may avoid their liability if they can satisfy the defences set out in ss 731-733. In this case, according to section 731, Jaan may avoid liability if they can provide evidence that their sales forecast is based on reasonable grounds, there is no misleading for the investors. And in order to defend successfully, the company also needs to show that they undertake that they can confirm their information is based on reasonable basis and the accuracy is creditable in the prospectus (zuozhe, 288). Furthermore, Jaan should also to prove that they were unaware of the changing weather to make the company to bear the loss. These can be potential defences for the company. However, the case Cadence Asset Management Pty Ltd v Concept Sports Ltd (2005) has shown that if the company has a behaviour of misleading the investors in breach of s 728 (zuozhe, 287), Jaan may not be succeed in the defences based on the following facts: they use the wrong popularity diagram to forecast the sales (besides, the company also know this fact), this is misleading to the investors; in addition, the changing weather should be a relevant risk which must be disclosed to the investors. Investors have rights to know the risks associated with the operation. Base on those facts, the company may fail to defence.

‘Looking for Alibrandi’ essay Essay

Essay question: Family has a strong influence on our lives. It affects the way we view ourselves and those around us. How has family influenced Josephine and what impact does it have?Family is one of our main influences in our lives, although we are not always aware of it. It shapes the people we are and the choices we make in our lives. In the text ‘Looking for Alibrandi’ by Melina Marchetta, Josephine Alibrandi is seeking to be free from the world and its misunderstood societal regulations throughout her twelfth year of high school – the year of change and new ways of thinking. Throughout her journey, her family influences her way of thinking. She grows and learns through family and structure, accepting her Italian heritage and family members. Family shows who she is, and by accepting that, Josie is able to live freely to the life she dreamed of, although not in the way she originally expected. Throughout the book, family influences Josephine to reach her goal o f emancipation, creating a connected family and a liberated perspective on life. Throughout the book, Josie’s way of thinking changes immensely, from negativity towards her family and culture, to a new understanding and perspective towards life. This is the effect from family, personal experiences, and sharing truths and feelings. Which teaches Josie how she feels about her culture, family and find the part of herself which is embedded in her family. Showing that her family influences and changes the way she feels about life and gives her a new perspective towards it. As the book progresses, Josephine learns to appreciate family – the sacrifices they make her, her Italian heritage and the community of family. Josie became respectful and thankful towards her family as apposed to resentful, because they loved her and her individuality. This has influenced Josie to learn her own truths, make her own rules and way of life, but most importantly, to figure out where her place in life is, ‘I know where my place in life is. It’s not where the S eras or the Carlys of the world have slotted me†¦ I’m an Australian with Italian blood flowing rapidly through my veins. I’ll say that with pride, because it’s pride that I feel.’ (page 259). Once Josie realises that her family had confided with her and had sacrificed all these things for her and the Alibrandi/Andretti name, she took action, to change her life for herself and her family, to be a better person. ‘A lot has  changed at home†¦ Maybe because I’ve changed.’ (page 259), this shows that from what her family has taught her, Josephine has changed for the better. Maybe not in the way she expected to, but in the way she can learn to accept herself and her family, which has changed her family life to a more loving, excepting community. Every family has structure, just like Josephine’s family. Josephine’s family has a very significant structure, which is generally influenced by their Italian culture and society, making them blind to Josephine’s way of life, â€Å"They stifle me with their rules and regulations they have bought with them from Europe, but they haven’t changed with the times†¦ There’s always someone I have to respect.† (p40). This indicates that Josie’s family is stuck in the old Italian ways, so ignorant and stubborn. Expecting respect even though they have done nothing but age, â€Å"I am an old woman now and I deserve respect.† (p36). This is why Josie dislikes the culture and traditions, because she feels that those traditions are what hold her down and not let her live the free life she dreams of. But through experiences and feel she can not do anything that she wants with her life, her family will always look down upon her, only remembering the bad things and they will always talk, no matter what which is what Josie learns to accept â€Å"†¦I think that if I lived like a saint and walked with two feet in one shoe; If I wore the clothes of St Francis of Assisi and suffered like a martyr; if I lived by the rules and never committed a sin, people would still talk. Because human nature. They’ll always, like me, find someone to talk about.† (p261). Culture and its traditions is another thing Josie’s family is buried in, which brings Josie down with it as well, Josie: â€Å"Culture is nailed into you so deep you can’t escape it.† (p175). All this is what holds Josie down from being free and doing what she wants. Family in Josephine’s life is what influences Josie to who she is and what decisions and actions she makes. Even though her family is who she thinks has trapped her life and social standing under the floor, Josie can not help the fact that family and culture and traditions and wealth is what makes Josie the person she is. And it is not until she realises this is when her emancipation can happen. â€Å"I just sat there thinking back on the year and I  realised that I was emancipated long ago†¦ I remember feeling socially out of it at St. Martha’s, yet when the†¦ walk-a-thon happened, I realised I wasn’t. I thought my birth circumstances were a cross I’d bear for the rest of my life, but†¦ it had never been my cross. I had only made it mine.† (p258) Josie feels emancipated because she had taken the time to reflect back and look at the bigger picture. She realised that she didn’t care what people though of her anymore because what difference is it really going to make in her life. Josie will always be Josie, and no matter how much others disagree it can’t change her, â€Å"You can’t hate what you are a part of. What you are.† (p152). Her family will always be the ones who she will look up to, â€Å"And I cried because I was loved by two of the strongest women I would ever meet in my lifetime.† (p226) These strong characteristics are what have influenced Josie the most to stand up for herself and be strong for herself. â€Å"You know a wonderful thing happened to me when I reflected back on my year. ‘One day’ came. Because I finally understood.† (p261), throughout her journey Josie learns through her family a new way of thinking, she grows and learns through family influences and family structure, accepting her Italian heritage and family members. Family shows who she is, and by accepting that, Josie is able to live freely to the life she dreamed of, although not in the way she originally expected. Throughout the book, family influences Josephine to reach her goal of emancipation, creating a connected family and a liberated perspective on life.

Bar Mitzvah

Whitney McClain April10th, 2013 Religions 9:30-10:45 Bar Mitzvah Party I chose to try and attend a Bar Mitzvah ceremony after your brief description of the festivity in class. I did not know anyone that was Jewish so I asked around my job. It just so happened that my co-worker was jewish and had a friends whose son was going to have a bar mitzvah. The ceremony was held at the conference on okaloosa island. I did do some research so I was not totally ignorant of what was about to come and also to be expected of me.I did dress formally due to the fact the event was held at night At the beginning of the service Aaron the 13 year old son took the stage to prepare to read from the Torah. The elders were beside Aaron and began to then chant the word before giving the spot light to him. They then passed the microphone and let him read his chosen passage from the book. This only lasted for about six minutes. I found this to be interesting because the moment was so short but would last a life time. It signified so much more than the actual act of reading the torah.It was a moment of happiness of becoming a man building up to all of which he had trained for; and a moment of proudness for family and friends. After he was done reading his piece we clapped, and sung in celebration. Some of Aaron's friends begun to throw candy at him to be funny. They threw the candy somewhat harder than what I expected, but it was all fun and games and rather mischievous. After the service was finished I watched everyone in the ceremony interact with one another.Everyone was quite happy and it showed on their faces it was a high spirited environment. The rest of the ceremony was the after party which I did not attend since I had to work in the morning. What I gathered from my experience I was that the Jewish religion seems like a very disciplined and traditional practice. Those aspects mean very much to them and has molded their society to what it is now. Everyone was put through certain st eps and earned their way toward adulthood.I understand that before the bar mitzvah several things are required of them. They are put into school and work to achieve or earn their celebration. I respected this because it gave them a good sense of their being. It instilled in the children what it is to become an adult. That things are not going to be handed to but earned and with that becomes responsibility. Now that Aaron is 13 he is seen to be old enough to follow the commandments, as an adult. I believe he intends to do so and follow his teachings.

School Secretary Assignment Example | Topics and Well Written Essays - 2000 words

School Secretary - Assignment Example Keeping of school records is of benefit to the educational department and the individual skills as it helps keep a record of crucial student information. This paper discusses some of the procedures involved in the above aspects and their importance in the New York department of education. A school secretary is an important figure in the school administration and provides support to both parents and students and the entire school community. To be a secretary you need to have a well organized and set up office and working in a school environment as a secretary is and added advantage (Hart). Several skills are required to be an excellent school secretary, some of these include proper communication skills both verbal and non verbal, you need to have experience in this job to be able to have good relations with people as part of the job description is to be social and friendly, to have great skills such as computer skills, and organizational skills. Duties and responsibilities of schools secretaries include receiving phone calls and transmitting messages from one person to another. The school secretary is involved in sending mails and receiving mails on behalf of the school community. These makes use of good written communication skills, the secretary should also be good with typing skills and should be punctual at all times. The secretary should have good communication schools also because he or she mingles with students, teachers, visitors and the entire school community. The school secretary is also involved with handling finances such as paying invoices and receiving payments so the secretary needs to be honest in all the duties to have a clean relationship with the school community. The school secretary is the source of information and the link between students and parents within the school. The visitors, parents and other officials make dates with the school management through the secretary. In most situations a school se cretary is

A New Work Ethic Case Study Example | Topics and Well Written Essays - 1000 words

A New Work Ethic - Case Study Example Indeed, what Sheehy reports as typical in a capitalist-based work environment is a matter of fact which most corporate people in the field of business may not be significantly aware of. There were a number of instances when I witnessed how the restaurant’s crew managed to game the system to their advantage. One time, I saw a co-employee assigned in cooking took for personal consumption a portion of dish from the plate that was to be served for customer and when I expressed curiosity and asked, I was merely told that it was no big deal since leftovers are a very common outcome from majority of customers. Another time, some three of the crew conspired to take a couple of bills from the petty cash compartment which they effortlessly carried out and it felt sad on me to have stayed helpless and that accounting of money for contingency purposes is deliberately overlooked. A friend of mine confessed of doing errands for office colleagues who had guts for spreading their weights arou nd as though to claim advantage of the good terms possessed between them and the immediate bosses who make critical decisions. Most of them, according to my friend, are also into the tradition of manipulating timekeeping record with low risk of getting caught due to poor coordination among responsible departments. It is no surprise at all, thus, to have read from the details of Sheehy’s personal work experience. (2) Explain the implications of the work ethic Sheehy describes for the future of American business. With the new work ethic shown in the work scenario presented by Sheehy, the economy of the future American business might run the risk of yielding a lesser probability of attracting stable consumerism. This would necessarily reflect in the customer feedback indicating unfavorable general results toward the unpleasant approach majority of them receive from inefficient and impolite working staff. Revenues are put at stake once the quality of customer service is taken for granted due to the conflict set by the prevailing ill attributes of work ethic which translates to problematic impression on a reputed business label through underperforming employees. American business could well be confronted with the predictable consequence of losing valuable clients who are naturally eligible to change preferences or make adjustments on priorities and budget on the basis of several factors including consideration of new line of commodities made by leading competitors in U.S. and abroad. (3) Explain whether it is more reasonable to expect workers, especially in a capitalist society, to be more devoted to their jobs, more concerned with quality and customer service, than Sheehy’s co-workers were. Knowing how a capitalist society works to meet its objectives via optimum capacity of production which the capitalist greatly expects from the pool of workers who are normally paid the minimum, it would be inconceivable for a worker to favor the company’s i nterest firsthand. Most probably, these working individuals would have motives and work ethic similar to those which Sheehy’s co-workers exhibited. As commodity production remains one-sided on generating massive profits for the capitalist while laborers are inclined to settle with a steady state of economy that is either hindered or is not supported in growth. Hence, it becomes natural

Policing and justice in the United Arab Emirates Research Paper

Policing and justice in the United Arab Emirates - Research Paper Example People in this region are mostly Arabs and belong to the (Muslim) Sunni religion. (Bureau of Democracy) States that United Arab Emirates is a combination of seven emirates. United Arab Emirates population is about 3.8 million people. About 17 percent of the whole population is citizens while the rest are temporary citizens. Its rulers form the federal supreme council, highest legislature and the executive. This is the same council that chooses the president and the vice president form within the council. The president then appoints his prime minister and the cabinet. Originally, the rule in the emirates was mainly patriarchal to mean that political power was mainly laid in the loyalty to their very own, i.e. tribal leaders, leaders in each individual emirate and the leaders of the federation. They do not practice democracy in their elections because they do not have any. They do not have political parties either. Citizens communicate with their leaders through the mechanisms that have been established called the majlis. The Federal National Council (FNC) is a consultative body that has 40 advisors. There has been a report that the government does not respect human rights for example, the civilians have no right to change the government, they have some laws that undermine human rights, workers are abused, trafficking of women and children, discrimination of non citizens, corruption and there is no transparency in the government. Some of these problems are being addressed by the government like human trafficking. Their police and criminal justice system is under the Ministry of Interior. This ministry is in charge of maintaining law and order and also is involved in the public security. This ministry has an efficient police force which is responsible for the maintenance of law and order, investigating crime and also preventing crime from taking

The inquiry into the Mid-Staffordshire NHS Foundation Trust Assignment

The inquiry into the Mid-Staffordshire NHS Foundation Trust - Assignment Example Goals: According to the annual report of 2008, the basic goals of the trust were as follow. They wanted to develop and maintain the position as the first preference of a broad range of acute services. They wanted to achieve this by increasing the diagnostic direct access. In this way, the patients can make direct bookings for the diagnostic tests such as scans. Moreover, they wanted to decrease the waiting time of the patient in the hospital and to improve their experiences. By expanding the range and nature of services, they declare their ultimate goal was to increase their market share. They were trying to achieve this particular goal by developing the interventional cardiology services and implementing the marketing strategy. Further, they wanted to develop specific services into the Centres of Clinical Excellence. They were trying to expand the services of the hospital by developing the Dermatology Centre of Excellence, Orthopaedic and Rheumatology clinical expertise and scope of practice. They wanted to develop a seamless service provision across acute and community service. To bring the services closer to the patient’s home, the trust wanted to develop outreach consultant clinics. Other than this, they wanted to provide services like chemotherapy, in the homes of the patients. It was also part of their goals to develop services on the Cannock Chase Hospital site so that they can better meet the needs of the community. This was done by maximising the use of Cannock Chase Hospital, by relocating the trust services into two floors. With the help of partner organisations, they wanted to develop new health related services in vacant accommodation. Their last goal was to be the cleanest place in the town. This can be done by further investing in the recruitment of cleaning staff. This goal can also be achieved by providing high quality services with modern facilities. Likewise, they would be able to have strict hygiene standards (Mid Staffordshire NHS Fo undation Trust Annual Report, 2008). In the coming years, these goals were not given the due importance by the management and thus, were ignored by them. Since the management did not stick to its goal, the trust collapsed when it was reported that around 1200 patients died due to the negligence of the staff between the years of 2005 and 2009 (Ellicott, 2010). As a result, on 9th June 2010, the secretary of State announced a full public inquiry in the form of commissioning, regulatory bodies, and supervisory (The Mid Staffordshire NHS Foundation Trust Public Inquiry, 2010). Literature review on healthcare system Heath care has emerged as a complex and dynamic organization. As the environment is ever changing and competition is becoming intense, the healthcare has also become technology oriented. This is done because in a small span of time they are expected to please their patients, keep good relationship with the staff, accommodate the shareholders, and meet the requirements of othe r stakeholders such as government, financial institutions, consumer forums, professional bodies and others. To maintain all the desires, management of the healthcare has to stay in touch with latest developments and the recent trends in patient care. Other than this, the management should improve their skills for better use of the existing resources and powerful technology. The management has to assess

Vicarious responsibility and uk law Essay Example | Topics and Well Written Essays - 4000 words

Vicarious responsibility and uk law - Essay Example ssing in details if there can be a convincing argument to justify the boundary English law sets between acts of employees for which the employer is liable and those for which the employee is liable. Personally, I think that the argument is two- way -traffic for instance, there is a convincing argument for there is a justifiable distinction highlighted which clarifies what the employer ought to do in order not to be held responsible. Therefore the employer just needs to read in between the lines to make sure that he plays save at all times. On the other hand, it can be said that there is no convincing argument given the fact that some concepts in the law states that the employer can be held responsible even though the employee is no longer working in the premises. To start with, there are so many employers who have little awareness that they can be liable for a range of actions or omissions which are committed by their employees especially in the course of their employment. These actions comprises of violent, bullying, discriminatory act, breach of copyright, being liberal and bullying among others. In addition, it is possible that the actions can be taken against the employer for the behaviors of even the third party the like of the clients and customers if they are controlled by the employer. Therefore there is a convincing argument because the law clearly stated the relationship or the link between the employer and the employee which makes the employer liable for the omissions or behaviors of the employee. On that note, when it comes to vicarious liability one can only have one key question which is whether the employee was acting in a personal capacity or in the course of their employment? More so, it is possible to also ask if the employ ers’ liability ends with the dismissal of the employee from the organization or if the employee leaves the organization. Nevertheless, the law states that actions can be taken against the employer even though the employee

Describe at least 5 scenes of the movie Rossie the Riveter Review - 1

Describe at least 5 scenes of the Rossie the Riveter - Movie Review Example Howard Miller. The Rockwell image seems to have a great deal more depth than the image created by Miller. It was proposed that this is not the tidy image that most people have in their mind when they think of Rosie. This ‘Rosie’ is quite dirty, with big strong arms, a leather bracelet, she wears overalls which are not common on women at this time, she carries a big riveting gun, se is wearing both welding goggles and a welding mask, she is defiantly standing on a copy of ‘Mein Kampf’ and she is hauling a metal lunchbox (Popular with men). However what is interesting is that this image that is considered masculine can also be considered quite feminine, because she is wearing makeup (Rouge, finger nail polish, lipstick etc.) and she is carrying her makeup and a handkerchief in her pocket, this ‘Rosie’ has her hair neatly pulled back, she is wearing women’s shoes, and she is eating a sandwich in a delicate manner. But what is most important from this image is that she is a worker, evidenced by her many badges (Security badge, blood donor badge etc.) Indicating that she really is an important part of the war effort. The next scene that will be discussed is in relation to determining who the ‘real’ Rosie the Riveters are. Many people have noted that there are indeed many actual World War II women that were real female defense workers named ‘Rosie’. The big changes that brought them into war work occurred in 1942 when more American men began to get drafted and many industries switched to war production. It was at this time that many companies started to recruit women as it was not possible for them to be drafted. What comes next is a description of the three main groups of women that were recruited to work in factories. The first were women already working who switched to higher paying defense jobs (Leaving traditional jobs to the point that more than six hundred laundries were closed). The

America’s current policies Essay Example for Free

America’s current policies Essay Often, present generations, completely apathetic about their own sins, casts judgment upon the people who came before. This is not to say that, contrary to the prevailing wisdom currently choking our country, there are not absolute truths that were present during the inception of this country as well as in our present day. It is very unfortunate that some of our founding fathers held slaves; especially the author of the Declaration of Independence, Thomas Jefferson, who held nearly two hundred slaves at one time on his plantation at Monticello. We do not like that the father of freedom in America could not find it in himself to free his slaves. Jefferson’s own cousin, as well as a number of fellow Virginians freed their slaves. From 1780 until 1800, the population of free blacks in Virginia rose from just over 2,000 to more than 30,000. (Burns, 1997) Where is Thomas Jefferson? However, did those who contributed to the Constitution yet held slaves, serve to invalidate the Constitution or their own individual contributions? It would have to seem that it does. However, not to the same degree as some of America’s current policies invalidates our ability to even cast judgment on other generations in the first place. People in glass houses should not throw stones. This is a famous saying which can be applied to every person or generation who judges another while being less than perfect themselves. America is the 21st century is a far cry from America at its birth. The population, in 1776, was just under three million people. (McCullough, 2007 pg. 26) Last fall, America’s population exceeded three hundred million people. Technology has certainly made the world a much different place and America is not only the richest country in the world, it is also the most powerful. The founding fathers could scarily fathom what this country would become in a little more than two hundred years. However, would they be proud of what had been accomplished? In some ways, the founding fathers would be glowing with joy and pride. In other ways, they could not help but feel a great deal of shame and embarrassment at what America had become. In the past thirty years, revisionist historians have tried to tell Americans that this country was formed, not out of the pursuit of religious freedom as the Mayflower Compact reads but rather to make money and to expand their wealth and land holdings. Also, that the founding fathers were not deeply religious men but rather Deists who seemed apathetic towards absolute truths. These assertions are fallible to the core and scarily a student of history can accept such tripe. However, even the deists and atheists were still very moral men who were led by principles and not by what was convenient as they were men of the Enlightenment. Therefore, the question which should also be asked in conjunction with this theme is: Does America stand on any moral ground to even pass judgment in the first place on any past generation. Did our forefathers risk their lives so that more than thirty million babies could be aborted since 1973 and 40% of all children are now born without a father living in the home? Did our forefathers risk their lives so that more than 20,000 people could be murdered each year for the pursuit of money to buy drugs? When the forefathers secured freedom of speech, did that mean that pornographic movies could be shown on the television or curse words spewed at a dizzying rapidity? In a time when gay marriage is being pressed so heavily upon our members of Congress, would our forefathers; individuals who regarded the act as so impure, that they would go out of their way to describe such actions in an indirect way in their writings and all believed to be a sin? There can be added to this list, more than a dozen modern examples and whether or not one agrees that the aforementioned are problems in this country or not, our forefathers could not help but see them as grave mistakes and impediments on our history. It seems unlikely that those individuals, such as John Adams and George Washington, to name only a few; so fervent in their religious convictions, that they freely invoked the word of God in their writings and speeches, could have consented to such depravity. More than 35% of all of the quotes of America’s forefathers came from the Bible. Does America’s hunger for relativism and humanism disallow us from even being able to even ask the question: Were the actions of the forefathers pure enough to even form a country in the first place? For every person who would say no, there would be two of the aforementioned society which would say the same about us. Now, this is not to say that slavery was not extremely immoral which served as a cancer on our society at that time and created a legacy of racial hatred and inequality which is still present today. Anyone who believes that this country is one of the greatest in the world, if not the entire world as I do, such apathy towards our forefathers own words, has to invoke a degree of annoyance towards men who are revered for what the gave to future generations in the formation of a democratic, capitalist and free society. One wonders why a clear consciousness was not worth simply paying their workers a modest wage instead of forcing involuntary servitude. What was going through the minds when Thomas Jefferson introduced legislation to end slavery during the Constitutional Convention? Historians have argued that if Jefferson provided a hard line against slavery, then his other policies would have been pushed to the side and perhaps never passed. This is probably true. However, what stopped Jefferson from freeing his own slaves at Monticello? These questions may never be answered. So in the end, it would seem best for Americans to tread carefully when dismissing an entire generation and their works because of a sin which was all too apparent in 18th century America. Slavery was wrong? There is no doubt about that. However, has America lost most of its moral authority, as well as the rest of the West? This is to be sure. As more and more people turn away from the ideas of absolute truths and towards relativism and humanism, preferring instead what is convenient and not what is right, problems which America is now suffering, is its natural result. If the incompatibility of the actions and words of the slave holding forefathers invalidates their work, then it should be placed a top a very long list of this country’s ironic measures which have grown at an exponential rate in recent decades. WORKS CITED Burns, Ken Thomas Jefferson New York: Thirteen Productions PBS 1997 McCullough, David 1776. New York: Scribners 2007

Scenario Of Family Business Management Information Technology Essay

Scenario Of Family Business Management Information Technology Essay A family business is a business in which one or more members of one or more families have a significant ownership interest and significant commitments toward the business overall well-being. In some countries, many of the largest publicly listed firms are family-owned. A firm is said to be family-owned if a person is the controlling shareholder; that is, a person (rather than a state, corporation, management trust, or mutual fund) can garner enough shares to assure at least 20% of the voting rights and the highest percentage of voting rights in comparison to other shareholders. Family businesses may have owners who are not family members. Family businesses may also be managed by individuals who are not members of the family. However, family members are often involved in the operations of their family business in some capacity and, in smaller companies, usually one or more family members are the senior officers and managers. Many businesses that are now public companies were family businesses. Family participation as managers and/or owners of a business can strengthen the company because family members are often loyal and dedicated to the family enterprise. However, family participation as managers and/or owners of a business can present unique problems because the dynamics of the family system and the dynamics of the business systems are often not in balance. PROBLEMS IN FAMILY BUSINESSMANAGEMENT The interests of a family member may not be aligned with the interest of the business. For example, if a family member wants to be president but is not as competent as a non-family member, the personal interest of the family member and the well being of the business may be in conflict. The interests of the entire family may not be balanced with the interests of their business. For example, if a family needs its business to distribute funds for living expenses and retirement but the business requires those to stay competitive, the interests of the entire family and the business are not aligned. Finally, the interest of one family member may not be aligned with another family member. For example, a family member who is an owner may want to sell the business to maximize their return, but a family member who is an owner and also a manager may want to keep the company because it represents their career and they want their children to have the opportunity to work in the business. . For example, if a family needs its business to distribute funds for living expenses and retirement but the business requires those to stay competitive, the interests of the entire family and the business are not aligned. Finally, the interest of one family member may not be aligned with another family member. For example, a family member who is an owner may want to sell the business to maximize their return, but a family member who is an owner and also a manager may want to keep the company because it represents their career and they want their children to have the opportunity to work in the business. SCENARIOS OF FAMILY BUSINESS MANAGEMENT But balancing competing interests often become difficult in three situations. The first situation is when the founder wants to change they are involved in the business. Usually the founder begins this transition by involving others to manage the business. Involving someone else to manage the company requires the founder to be more conscious and formal in balancing personal interests with the interests of the business because they can no longer do this alignment automatically-someone else is involved. The second situation is when more than one person owns the business and no single person has the power and support of the other owners to determine collective interests. For example, if a founder intends to transfer ownership in the family business to their four children, two of whom work in the business, how do they balance these unequal differences? The four siblings need a system to do this themselves when the founder is no longer involved. The third situation is when there are multiple owners and some or all of the owners are not in management. Given the situation above, there is a higher chance that the interests of the two sons not employed in the family business may be different than the interests of the two sons who are employed in the business. Their potential for differences does not mean that the interests cannot be aligned, it just means that there is a greater need for the four owners to have a system in place that differences can be identified and balanced. SUCCESS OF FAMILY BUSINESS MANAGEMENT Successfully balancing the differing interests of family members and/or the interests of one or more family members on the one hand and the interests of the business on the other hand require the people involved to have the competencies, character and commitment to do this work. Often family members can benefit from involving more than one professional advisor, each having the particular skill set needed by the family. Some of the skill sets that might be needed include communication, conflict resolution, family systems, finance, legal, accounting, insurance, investing, leadership development, management development, and strategic planning. INNOVATIVE TRENDS IN FAMILY BUSINESS MANAGEMENT . There are three major trends among the most innovative family business management that together will have a strong impact on wealth holders and the providers to these families: Develop new sources of knowledge. Family business continuously gather practical information from a wide variety of sources. As a result, much of the information these families receive comes from providers of products and services, who have a commercial motive. To further complicate matters, products and advice are often bundled together, with free services subsidized by the revenues generated from other components of the package. Unsurprisingly, the most complex and/or illiquid offerings tend to have the highest embedded costs. Family business management increasingly supplement these sources of information through peering communicating with each other to compare experiences and solutions.At its best, this is a global exercise in which family business actively seek to learn from their peers around the world. Leading families recognize that local networks must be supplemented to ensure that they access more than a location-specific consensus shared by those who, for example, live in the same place, share the same social network, or rely upon the same sources of information. Unbundle, measure, and innovate. The most sophisticated family business recognize that products, platforms, and advice, are fundamentally distinct. They are creating customized solutions from select providers in each category, rather than accepting a bundled offering from a single source. This unbundling allows for more accurate measurement of the value provided by each component. This in turn allows family business management to see new areas of opportunity and to swap out only the individual components that are not working according to specific performance criteria. While trust remains paramount, the foundation of trust is shifting to be based on competence and track record rather than simply a personal relationship. The most enduring relationships are being built upon informed trust, which requires a clear understanding of the way a providers business works. Family business are increasingly focused on measuring inputs and outputs. This means that they are paying closer attention to the transaction costs of interm ediation and actively seeking to calibrate economic incentives to better align costs with value. This requires a nuanced understanding of the inner workings of products and services so that meaningful benchmarks and cross-comparisons can be established. The most sophisticated families consider both absolute and relative value, using peer-based benchmarks as an input to their evaluations. Pursue opportunities globally. The inputs that family business use to create their solutions increasingly come from all over the world, not just their home countries. This trend is a direct result of the two trends described above. Family business have both the means and the incentives to invest in understanding foreign markets and practices. The empirical case for doing so is strong, particularly when local knowledge can be applied to less efficient markets. In addition to globalizing their portfolios, family business increasingly seek opportunities from direct investments. Family business are pursuing returns through country-specific direct investments, such as real estate or private equity, which require a greater level of due diligence and commitment (and offer greater potential rewards). These investments are often made in partnership with other sophisticated private investors who have relevant expertise in co-direct investment or club investing arrangements. The pervasive changes underway in the family busin ess market reinforce each other. Increased knowledge leads to better analysis of a wider set of opportunities, and this allows investors to unbundle and measure, so that they can be more creative in devising comprehensive, global solutions. The more innovation that occurs in the market as a result of this creativity, the greater the additional knowledge creation and sharing.While the effects of this shift are now being felt. STRUCTURING OF FAMILY BUSINESS MANAGEMENT When the family business is basically owned and operated by one person, that person usually does the necessary balancing automatically. For example, the founder may decide the business needs to build a new plant and take less money out of the business for a period so the business can accumulate cash needed to expand. In making this decision, the founder is balancing his personal interests (taking cash out) with the needs of the business (expansion). ORGANIZATIONAL STRUCTURE Organizational structure defines the roles and activities required of people in order to meet the objectives of the business. The structure should also help people accomplish their own career and personal goals. Concern with motivation and communication should influence the organizational structure. In defining an organizational structure, the manager has four objectives in mind: (1)- division of tasks, (2)- coordination of efforts and tasks among people and enterprises, (3)- control over the way in which tasks are performed and (4)- flow of information. To accomplish these four objectives, the manager must decide the positions to be filled and the duties, responsibilities and authority attached to each position. PRINCIPLES AND CONCEPTS OF ORGANIZING Regardless of the specific characteristics of a horticultural business, some principles of organizing will be helpful. These principles have two uses. First, they are helpful in the actual design of the organizational structure. Second, they can serve as a check list for evaluating and improving the current organizational structure. EXCEPTION PRINCIPLE Someone must be available to handle the exceptions to the usual, i.e., someone must be in charge. When an employee or worker has a problem he or she can not handle, the organizational structure should provide for someone higher in the organization to provide assistance. DECENTRALIZATION Decisions should be pushed down to the lowest level possible in the organization. The more routine a decision, the lower the level in the organization where it should be handled. To illustrate, workers waiting each morning to be told what to do and where to do it can be a great waste of manager and worker time. Workers having a routine not requiring daily instruction, and workers being trained to handle with confidence decisions within their job descriptions illustrate decentralization. The objective is to overcome the waste of time stemming from too much centralization of decision making. Working managers rather than managed workers should be the goal. PARITY PRINCIPLE Decentralization requires delegation. With delegation comes responsibility. Authority should be delegated along with responsibility. To illustrate, assume the 18 year old son of the owner of a landscape firm has been given the responsibility of taking a crew of 3 people, each over 25 years old, to a landscaping site to plant 5 trees and 30 bushes. Further assume that the son has no authority to decide how hard it has to be raining before the crew stops working, no authority to correct a person who is digging the holes for the trees and bushes too deep and no authority to reward the crew member who is doing by far the best job. It is easy for the 3 workers to ignore the son if they have been accustomed to taking orders only from the owner and the owner has given the workers no indication of what authority the son does and does not have. SPAN OF CONTROL The span of control is the number of people a manager supervises. The organizational decision to be made is the number of subordinates a manager can effectively lead. The typical guideline is a span of control of no more than 5-6 people. However, a larger span of control is possible depending on the complexity, variety and proximity of jobs. The ability, experience and style of the manager also affects the desirable span of control. Finally, worker characteristics should affect the span of control. Well trained, motivated, experienced and satisfied workers require relatively little supervision. Owner/operators of family businesses often have span of control problems because of a me attitude. As a family business grows and people are added, the manager still may want everyone reporting to her rather than delegate responsibility and authority to a middle manager. UNITY PRINCIPLE Ideally, no one in an organization reports to more than one supervisor. Having more than one supervisor causes an employee relatively few problems if the supervisors have good coordination and frequent communication. However, supervisors typically lack the time for the necessary coordination and communication. Too often, employees get conflicting instructions and assignments. Employees should not have to decide which of their supervisors to make unhappy because of the impossibility of following all the instructions given them. OWNERSHIP STRUCTURE There is no one family or ownership structure; it have family businesses that are owned by one sole owner. When it comes to the second generation, most of them turn into a sibling partnership with very few but strong owners who hold large shares in the company. In the next generation, it come to a cousin federation and maybe one day we are a family dynasty like Haniel or Wendel. Each stage has its own problems. It must understand the stage you are at, asking the right questions and giving the right answers relevant to that stage. The transition from one stage to another creates a crisis because, in the next generation, you have different questions and you have to give different answers. If you understand that there is a crisis and find the right answers, this crisis may create a chance. Owner strategy starts, like every strategy, with some simple key questions: what is our vision, what is the mission statement we have as owner family. More specific questions for owner families include the following: who can become a member of the owner group. From whom can member groups inherit their shares  and to whom can they sell shares? How do we want to deal with in-laws and the next generation Emotions must be dealt with effectively when managing a family business and managing a family that owns a business. Successful families are families who are better at addressing emotional problems and then solving them. Values and aims must be clarified if any group wants to be successful. This helps prevent conflict when making decisions. Knowing the company goals and the family aims is important otherwise, a family cannot determine whether it is successful or not. In successful family businesses, strategies will change, but the values remain very stable over generations. BUSINESS STRUCTURE This is the business model follow. It often starts with the entrepreneurial stage and then it turns to a traditional and classical family business. There are several different business models and each family should address some essential questions when choosing the correct one. Do we want to be a more focused or more diversified owner family? How do we want to influence the business? Do we want to run it or just control it? Do we want only to act as owners and let outside people control it? How should we manage the owner family so that we maintain family unity and commitment? New Ideas We must formulate a family code that is sensitive to new membership values, aims and a changing business model. Family Education All the owners should know what it means to own a family business, and what  professional ownership means. Emotion-Added Value It is important to come together and have family days so that you have the chance to enjoy being a member of the group. Family Office You may want to start a family office and do family philanthropy together. FUNDS AND INVESTMENT STRUCTURE With a dedicated funds, investment and tax team, including lawyers with corporate, tax and trust experience, we are able to provide the targeted investment structuring advice on which family offices depend. leading investment managers and fund managers, to ensure that private investments are designed and structured to mitigate taxation and provide the greatest opportunity for returns. LEGAL RISK STRUCTURE Risks from many directions, including legal liability, risk of investment loss or devaluation, compliance failure, tax and property law change, security (this includes risks to property and person) family dissension, divorce and indiscretion. The mitigation and balancing of risk in all its forms is of paramount importance for many family business management. Wealthy families and family members are faced with many legal and investment challenges, and increasing regulatory scrutiny. These issues become more acute in the case of multi-generational families with members based in various countries who have international asset holdings Another key risk for clients is breach of confidentiality, especially in a world where the Internet means information anywhere is information everywhere.. It is possible to reduce such risks by the use of appropriate structuring and third party contracts but these measures should be taken when the office is established. If a breach occurs our Reputation Management team can help. . These include the offices of substantial international families with assets and family members in numerous countries, as well as more traditional families with large landed estates or entrepreneurial interests. Theses point should be consider: Conducting an audit of various substantial wealth-holding structures, to ensure they were watertight from a fiduciary and tax perspective. Undertaking a major review of the trust and asset structures of a large international family with international assets. One of the main purposes was to identify potential areas of risk for the family and take measures to safeguard against such risks going forward. CONCLUSION To conclude , we can say that this was the aforesaid explained report on innovative family business. Main facts that are dicussed in study are 1 meaning of family business management 2 current scenario 3 Type of structure for family business management 4 problems 5 innovative trends in family business management After studying all the above given study it is been very clearly understood that family business structure is one of the very common structure of business structure that is been used worldwide. As every business structure has its scenario, advantages , disadvantages, problems, and its new and emerging trends, it is similarly applied here. We can say that family business management is a trend that has been followed for years. Innovative method could be used for more flexibility in family business. RECOMMENDATIONS 1 overcome the internal dispute 2 proper engagement of all members 3 follow the structure that is bet suited to ones business 4 proper management 5 go as by the time. 6 properly implementing the strategy BIBLIOGRAPHY AND REFRENCES http//www.family-business-experts.com http//www.familybusinessmagzine.com http//www.businessweek.com/magazine.com Astrachan, J. and Shanker, M. (2003). Family Businesses Contribution to the U.S. Economy: A Closer Look. Family Business Review, Vol. 16, No. 3, pp. 211-219. Colli, A. (2003). The History of Family Business, 1850 2000. Economic History Society. Chua, J., Chrisman, J., and Sharma, P. (1999). Defining the Family Business by Behavior. Entrepreneurship Theory and Practice Vol. 23, No. 4, pp. 19-39. Davis, J., Pitts, E., and Cormier, K. (1997). Challenges Facing the Family Companies .

Function Of Print Media

Function Of Print Media Media refers to the groups that communicate information and news to all people. Media have divided into three types that are included print media, broadcast media and internet. Print media is the oldest media such as newspaper, magazines, journals, and other printed material. The printing media is responsible to reporting the latest and accurate news and information. Few type newspapers such as New Straight Times and The Star. After that, many types of magazine such as business, education, entertainment, travel, cate and fashion magazines. For example, Galaxie is an entertainment magazine and SME Entrepreneurship is a business magazine. They will have regular readers of print media. Broadcast media is the news is broadcast at radio and television. The main broadcast networks in Malaysia are RTM1, RTM2, RTM3, NTV7 and 8TV. Local news stations have large amount of audience because radio channel will report the local weather, traffic and events. Many people will listen to the radio cha nnel especially during morning and evening. Nowadays, the internet is the fastest transforming the news because every people know how to online and they will post the latest and updated news on the internet such as Facebook. Internet is a quickly way to transmission the news and information so internet will provide advantages toward various industries to promote their business. Besides that, weblogs also is a ways to transmitting the information through internet. Media is an important communication channel to disseminated education, business, news, entertainment, data and promotional message. 1.1 Function of print media 1.1.1 Education Industries Text book is a type of print media that is transmits the information to all students. Print media can help the intellectual and professional person to transmission their knowledge and experience to readers. Newspapers have provides the practice section for primary and secondary school students to do their revision such as News Straight Times. For example, tuition Centre is a type of education firm. Print media such as the newspaper and magazine have a loyal readership. This function can be very useful for advertisers and promote the courses of tuition centre. If you are targeting a specific geographical area, so you can advertiser the new tuition centre through print media. Magazine can promote the tuition centre through colourful pages and can show the beautiful picture of the tuition centre. Besides that, you also can control and plan the budget of the advertisement. For example, you can choose the size of advertisement space and choose the colour or black and white advertisement. In additional, flyer also can help promote the tuition centre. Flyer will cheaper than advertise through broadcast media because flyer will give to the target audience directly. If the information of flyer is detail so can prove to be a proper option. 1.1.2 Business Industries Newspapers contain a few of sections such as business section. In the business section will have some article are written by the people are successful in business. They can share their experience and knowledge to all readers. Besides that, print media can help the boutique or shopping complex to promote their products and inform the news of discount the price of their products to readers. Newspaper contains the job application section which will list the job specification and job description for job applicant. So the company can find the employees easily through newspaper. Magazines are a suitable option to promote the restaurant. For example, have some cate magazines that have shown to audience about the top ten cate in Ipoh. These will help the tourist easily to find the good restaurant and delicious foods at certain place. Readers will interest to the advertisement in magazine because of the better quality paper permits better colour reproduction. These will help the restaurant in crease their amount of customer. In additional, contain some business magazine such as Fortune and SME Entrepreneurship magazine. This magazine will mainly analysis on matters affecting the SMEs and Fortune magazine will covering local and international business in news, financial news, technology, companies, global economics and more. Print media will help to convey the useful and update business information to readers. 1.1.3 Entertainment Industries Every newspaper contains the entertainment section to readers. Entertainment section will show the list and time table of different programs are broadcast in different channels. Besides that, the summary of certain program also will show at the entertainment section so readers can choose the movie that you feel interest. Therefore, readers can save their time and watching television program follow the time table are show on newspaper. Besides that, the latest news of the artist and singer will write on the newspaper. The supporter of the artist and singer can pay close attention to their idol. In additional, newspaper or magazine also will promote and advertise some new songs, movies and games. The new movies in the cinema will show on the newspaper and magazine. Again, the summary of the new movies also will write on the magazine so readers can briefly understand about the movie. Besides that, have some games guidelines magazine that is show the news games and will explain about the content of the game. New movie are update in every month also will show on the magazine or newspaper. For example, Gempak is a comics magazine these will show and promote the news comics for readers. 1.2 Function of internet 1.2.1 Education Industries We can easily contact with friends or teachers through internet. Internet can help everyone to find out some information to solve their problem especially students. For example, college students can complete their college project easily through a small research on internet. Encyclopedia is the biggest source for searching information. The information in encyclopedia is the most effective informationà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s so students can get the accurate and update information to complete their projects. Besides that, we also can upgrade our knowledge through internet. In additional, there are lots of Online Learning Programs are available for people who are unable to attend classes or some courses. For example, e-learning has been carrying out at some college or school. College lectures can upload the new Moodle version on the internet and the students can download or view the latest Moodle version. E-learning will provide many advantages for student. Students can study at anywhere they have access to a computer and internet connection. Besides that, internet also can help the education industry such as college, university and tuition centre to promote their courses and show the success history of those industry through some colourful or sounding website or blog. These will help the education industry reduce their expenses to making flyer and can get a good effect through internet. 1.2.2 Business Industries Nowadays, many people will do the online business. Online business means that the company are doing business and earning a profit through internet. Business people must have creativity to create an attractive website and find innovation ways to leverage the internet for business purpose. Business people can create the business website to promote their products or company with some colourful pictures. Therefore, the entrepreneurs will easy to advertise and show the features of their products to every people through internet. They can save time and money because create the business website is free and no need to do face to face presentation with customers. Besides that, the business website is potential for reaching a wider audience compared with print media. For example, a restaurant has created a business website on internet so will attract many customers because of the beautiful and attractive pictures. After that, the company also can update their information of the products or com pany easily. The consumer can get the latest information through internet. In additional, latest and accurate business information or video about business can be uploading on internet and can search by anyone. Entrepreneur can record a video to promote and introduce their products and upload it on internet. Business person also can have a meeting with the partner at foreign country through internet. 1.2.3 Entertainment Industries Playing online games are become a habit of mostly teenagers. Internet have many online games to entertain all people especially teenagers and kids. Besides that, songs and movies also can search on internet. We can free to download the song or movie through internet. Next, supporter of the artists or singer also can get the latest news of their idol. The latest news of the artists or singer can be uploading on the internet. Artists also can share their happiness or experience with their fans through internet. MV of the songs also can be post on certain website such as Youtube. Therefore, singers or artists can promote their songs and movies through internet. In additional, new movies are broadcast on cinema also can upload some trailors to advertise the movies. Therefore, moviegoers can understand the content of movies before watching at cinema. 1.3 Conclusion Media is a good ways to transmission the news and information. Functions of print media are transmission information, entertainment, doing advertising and persuasive. Nowadays, internet has become a basic need for mostly people. During technology changing day by day, we are not only collecting data from internet, we also shopping through internet. Internet was provide many advantages towards varies industry. I seem that print media is suitable for education and the internet is suitable for business and entertainment to transmit information. 2.0 Introduction of traffic congestion Traffic congestion means that a situation in which a place is crowded with vehicles. The vehicles were difficult to move around. The numbers of cars on the road are likely to increase so will worsening the problem of traffic congestion. Problem of traffic jams were always occurs especially on the expressways are a common sight. Nowadays, most families have at least two cars. Problem of traffic congestion was causes by government and driver. Besides that, traffic incidents, work zones, bad weather and special events also were cause the traffic congestion. According to the Department of Transportation, incidents account for 25% of traffic congestion, bad weather accounts for 15%, work zones account for 10% and special events is 5%. These is called non-recurring congestion. According to the DOT, 45% of traffic congestion is caused by recurring traffic issues. Recurring traffic congestion included insufficient capacity, unrestrained demand, and ineffective management of capacity. 2.1 The first view Problem of traffic congestion should by handle by government. Government should act to reduce the number of cars on the road. Government should set up some public transport for all people. Public transport should be developed such as bus, taxi, trains, LRT (Light Rail Transit), monorail and railway. Therefore, the number of private cars will be reducing because we can take the LRT when we needs going to somewhere. Government should set up some talks to all people. These talks are about the advantages of taking the public transport. Besides that, government also can encourage citizens reduce using the private cars because it should be more expensive and inconvenient to take a car out on the road. For example, road tax of the private cars will be expiring after one year. Government can upgrade the quality of the public transport and make its comfortable, affordable and safe to take. Therefore, many people will choose taking the public transport more than using private cars especially s tudents and workers. If the people will more likely to taking the public transport then the road capacity will increase and the problem of traffic congestion will be handling. For worker, use car pools are a good ways to reduce the traffic congestion at the office hours. Government can make some poster or advertisement talk about the advantages of car pools. Besides that, government can convince the citizens try to use car pools with colleagues or taking public transport. In additional, bad weather is cannot prevented by government but government can try to adjust the design and structure of the roads. Government can implement a plan to manage the roads and provide alternate routes can help the situation. Besides that, the government should increase the taxes of sale of vehicles and petrol. For example, some workers cannot afford to buy the vehicle of expensive so can reduce the amount of cars. After that, the government also can set the high-priced parking in city area and increase the toll fees. Improve the technology of traffic road also can reduce the traffic congestion. For example, government can set the time-based and sensor-based traffic light control system at four-way intersection. Besides that, government can use the advanced signals, traveler information and updates in real time and emergency evacuation management. Rather than waiting until there is an incident, government should improve technology to more proactive when it comes to traffic congestion. 2.2 The second view The second view of other people say that it is the responsibility of individuals to use cars less and public transport more to reduce the problem of traffic congestion. As a citizens, we must support and cooperation with the government. Commuters must be willing to change our behavior related to reduce using the private cars. Therefore, we should support the government policies and follow the new policies to use more public transport. If can reduce the number of private cars so can increase the road capacity. We can use the public transport such as bus and LRT to substitute for the private cars. For example, students can use car pool and going to shopping or tuition together. We should follow the policies and decision is making by government. Using public transport can help us to reduce the expenses of petrol, toll fees, parking fees, air pollution and can reduce the problem of traffic congestion. Therefore, it is essential that individual accept responsibility help government to red uce traffic congestion and support government initiatives. Besides that, the people also can ride bicycle to go to school or work. These also are an action to reduce the traffic congestion and air pollution. In additional, citizens also can walk to somewhere near the house. For example, we can walk to food market if the food market is near by our house. Therefore, we are no need to drive a car and can increase the road capacity. 2.3 My opinion Traffic congestion was affects every people at same point, it will caused us to be late for work or school. In conclusion, I seem that government is an important role to reduce the traffic congestion. Government should take action to reduce traffic congestion in large cities. Government should encourage all citizens to use the public transport more than private cars. Besides that, all the citizens also need to support the policies and decision are making by government. All people should take their responsible and cooperation with government to reduce the traffic congestion. Finally, government and all citizens should take action to reduce the problem of traffic congestion together. 2.4 Conclusion Traffic congestion means that the cities are crowded by the cars or transport. This problem are always occurs in large cities. Government should provide more public transport for citizens to reduce the number of private cars. Government can encourage all the citizens use the public transport and improve the quality of public transport to attract citizens use the public transport. This action can help to reduce the traffic congestion in large cities. Government also can set some campaigns to talk and explain about the advantages of reduce the traffic congestion and increase the road capacity. Besides that, other person will say that reduce the traffic congestion are the responsibility of individuals. As a citizen, we must cooperation with the government. We should support the policies are set up by government. The responsible of the people is use the public transport and reduces using the private cars to reduce the traffic congestion. After that, we also can walk or ride a bicycle go to somewhere are near our house.

The Challenges of Middle East Collection Librarianship :: Essays Papers

The Challenges of Middle East Collection Librarianship The life of a Middle East collections librarian is typically one of quiet cataloging balanced with defensive declarations of one's significance to a great many co-workers and fellow university folk who fail to understand the need to collect items in "those squiggly languages." In an effort to share ideas on how to gain greater respect among peers while serving patrons as best as possible, hard-working Middle East librarians across the United States and the world commiserate on listservs and attend the annual Middle East Librarian Association (MELA) conference. They often discuss the new and the continuing obstacles to this specialty reaching its full potential and obtaining its due respect. Censorship is an issue. Books are usually censored upon publishing, but the censors can change their minds†¦ Primary among concerns is money. Also, few things speak so clearly about what the library prizes than does space allocation. Middle East collections are frequently in the inner, dark depths, the highest reaches, or the most backward rooms of the libraries that contain them. Certified librarians regularly receive greater deference and respect within the library organizational structure, particularly those with bureaucratic (role) systems (Handy 185). But professionals cost more, so hiring students is an established practice. But, if finding qualified personnel is a problem at Princeton University, which has an endowment of 3.5 billion dollars, it is almost certainly a problem everywhere (Weinberger). Finally, respect infrequently comes from the lofty positions beyond the library walls. Presidents, Provosts, and Regents often fail to perceive the library as an essential, perpetually developing aspect of campus life. The core of the problem may be that the people making the decisions in libraries and in administrations do not see a need for a library because they do not visit it. This divide might best be bridged by personally inviting these leaders to annual report meetings, presentations, or displays related to your collection. When they do not at first respond--and they likely will not--display a bit of personal power (Handy 131) and continue to invite them. If they regularly receive things in your name, their curiosity may eventually get the better of them. Challenges specific to the Middle East Librarianship include: - Cataloging challenges - Delays of copy cataloging - Student-dependent work - Nothing arriving shelf- - On-line materials - A host of supply problems. Cataloging challenges center around transliteration systems, a marked dependency by more and more institutions on copy cataloging, and a shift from relying on expert catalogers to the growing use of student workers.

Infectious Mononucleosis (Mono) :: essays research papers

Infectious mononucleosis is caused by the Epstein-Barr virus (EBV). It is a double stranded DNA virus indistinguishable from other members of the herpes virus group. It get its’ name from the mononuclear (single nucleus) cells. It is also known as the â€Å"kissing disease†, because the most frequent mode of transmission is intimate salivary contact. It can also be transmitted from shared drinking and eating utensils, toothbrushes, etc. Mono is not likely to spread by aerosol (ex. sneezing) or fomites (ex. doorknobs). About half the population is not exposed to this virus until late adolescence. The peak incidence for girls is 14-16 and boys 16-18. After initial contact with the virus, there is an incubation period of 4-6 weeks and then the symptoms start appearing. Symptoms include fever, sore throat and lymph adenopathy (swollen and tender lymph nodes). Mono may be called glandular fever as well because of the swelling in the lymph nodes. Fevers can get as high as 102 degrees Fahrenheit and may remain high for 3-4 weeks. Other symptoms include enlargement of the spleen and liver, fatigue, loss of appetite, periorbital edema (swelling of the tissue around the eyes), petechiae (tiny bruising like spots on the roof of mouth), and a fine rash. The white blood cell and liver enzyme counts are elevated, and anemia can occur with low platelet counts. Diagnosis is made based on the clinical picture and the hematological features. A sample of the patients’ blood is mixed with sheep’s blood and if the patient has mono, the sheep’s blood cells will stick together. Antibodies to sheep or horse red blood cells are positive in 90% of cases. Mono is not a fatal disease, but there is no specific antiviral therapy. Doctors will most likely prescribe much rest. Acetaminophen and ibuprofen are sometimes used to relieve aches and manage the fevers, but the use of aspirin is not recommended due to the link to Reye’s syndrome. Corticosteroids are used to reduce the amount of tonsillar swelling and intravenous rehydration is necessary. Patients are cautioned to avoid contact sports for 6 weeks after recovery to avoid the risk of spleen rupture. Most cases of mono resolve without complication, but some rarely occur. Complications are tonsillar enlargement, which can cause respiratory obstruction; rupture of spleen; encephalitis, an infection of the brain tissue; Galen-Barer syndrome, a progressive and sequential worsening syndrome of weakness and paralysis; hemolytic anemia, the red blood cells are destroyed; uvetis, an eye involvement; myocarditis, an inflammation of heart muscle; pneumonia; hephritis, a kidney infection; and Reye’s syndrome; a severe neurological syndrome.

Growth and Potential of International Luxury Fashion Brands Essay

This is to certify that the project entitled ? Growth and Potential of Luxury International Fashion Brands in India? is submitted towards the partial fulfillment of the program ? Master of Fashion Management‘ by Kanan Gupta. It is an original work done under my guidance and the results are based on the research done by her. Name of mentor: Mr. Kislay Kashyap Asst. Professor Department of MFM NIFT, Patna Date: 01-03-2012 Place: Patna 1|Page DECLARATION I, Kanan Gupta hereby declare that the project entitled ? Growth and Potential of Luxury International Fashion Brands in India? submitted towards, partial fulfillment of the program Master of Fashion Management is my original work and no part of the project has been copied from any other report or carried by someone else or has been submitted for any other degree/award. However, any material taken from any other published sources has been suitably referred and acknowledged at various places. Name : Kanan Gupta Roll no : 17 Batch : 2011-2013 Centre : Patna Date Place : 01-03-2012 : Patna 2|Page ACKNOWLEDGEMENT I owe my gratitude to many people who helped and supported me during the research and compilation of my project report. I would like to thank my mentor Mr Kislay Kashyap for approving my project and express my indebted gratitude for his guidance and suggestions at every stage of this report. My sincere gratitude is also due to my seniors for their constant encouragement and support. I would like to express my thanks to all those people who were directly and indirectly involved in shaping my project by providing valuable information and co-operation. 3|Page EXECUTIVE SUMMARY INTRODUCTION: This is a project to study about the ? Growth and Potential of Luxury International Fashion Brands in India?. If we look into the past, no one could imagine that a luxury market would exist in India. But over the years with the change in the demographics of the Indian consumer and with higher disposable income available, the luxury market in India has indeed emerged as one of the fastest growing markets in the retail segment. PROBLEM DEFINITION: The Indian Luxury Market is still a niche market and people have got a very low personal disposable income, though it has increased a lot from before but not so much to afford international luxury fashion brands and the people who have got a high disposable income lack enough knowledge about the international fashion brands available in India as the luxury international stores are limited to metropolitans only. 4|Page OBJECTIVE: The main objectives of the projects are ? Analyze the Luxury Brand Awareness among the Indian consumers. ? Reasons behind customers buying Luxury fashion Brands ? Analyze the major international fashion brands in India. ? To analyze the Current Scenario and the Growth of Indian Luxury fashion brands and the Market. RESEARCH METHODOLOGY: ? The secondary research is through Magazines, journals, articles and internet. ? Primary research through focus group interview with industry personnel, customers. HYPOTHESIS: ? Assuming that there is a strong scope for the growth of international luxury fashion brands in India. ? Taking an assumption that Luxury fashion brands do not have much scope in the Indian market. 5|Page CONTENTS Ch. No. 1. 0 2. 0 3. 0 3. 1 3. 2 3. 3 3. 4 3. 5 3. 6 3. 7 4. 0 4. 1 4. 2 4. 3 5. 0 5. 1 5. 2 5. 3 5. 4 6. 0 7. 0 8. 0 9. 0 9. 1 9. 2 Chapter Name Objective Research Methodology Literature Review Introduction India at Glance Geography People Understanding Luxury Defining Luxury Socio Economic Significance of Luxury Acquainting with Luxury Fashion Brand Major Difference between Regular Brands and Luxury Brands Persona of Indian Luxury Industry Famous Luxury Brands and their destination in India SWOT Analysis Major Problems Faced by Luxury Fashion Industry Growth and Potential of Luxury Brand Growth of Indian Luxury Market Luxury Fashion Branding Strategies Final Summary Primary Research Findings Annexure Questionnaire Bibliography Page No. 7 8 9 9 9 11 13 14 15 16 17 21 23 26 31 32 33 35 39 41 43 54 56 56 58 6|Page 1. 0 OBJECTIVE: The main objectives of the projects are ? Analyze the Luxury Brand Awareness among the Indian consumers. ? Reasons behind customers buying Luxury fashion Brands ? Analyze the major international fashion brands in India. ? To analyze the Current Scenario and the Growth of Indian Luxury fashion brands and the Market. 7|Page 2. 0 RESEARCH METHODOLOGY: ? Secondary research through Magazines, journals, articles and internet. ? Primary research through focus group interview with industry personnel, customers. 8|Page 3. 0 LITERATURE REVIEW 3. 1 INTRODUCTION: If we look into the past, no one could imagine that a luxury market would exist in India. But over the years with the change in the demographics of the Indian consumer and with higher disposable income available, the luxury market in India has indeed emerged as one of the fastest growing markets in the retail segment. Through this report I have tried to give an estimate of the luxury retail market in India, how much it has penetrated and also how much it is likely to grow. Also I have tried to specify various factors that are crucial for the success of luxury brands in India. While doing out research on this project I have come across many new findings. The role the Indian market plays in the global scenario and the position of India vis-a-vis other countries. Also I understood about the duties and legal requirements for this segment. I have tried my level best to cover all the aspects in regard to my research. India today is fast becoming a new world of modern luxury. The country now teems with luxurious international brands, spurring the ascent of an Indian luxury market. One does not need to travel abroad to shop for luxury. Luxury goods and services sit aplenty right at home. Indians, however, have to realize such, be informed where to avail of them, and be convinced of the convenience and ease of access to these luxury goods and services. In the same vein, foreigners can also visit India to shop for same luxury. India can very well be placed on the global luxury-shopping map. There is, therefore, a huge opportunity to pump prime the luxury market field in India. 9|Page 3. 2 INDIA AT GLANCE: FOCUS : Study about India and its habitats. India is one of the oldest civilizations in the world with a kaleidoscopic variety and rich cultural heritage. It has achieved all-round socio-economic progress during the last 60 years of its Independence. India has become self-sufficient in agricultural production and is now the tenth industrialized country in the world and the sixth nation to have gone into outer space to conquer nature for the benefit of the people. It covers an area of 32,87,2631 sq km, extending from the snow-covered Himalayan heights to the tropical rain forests of the south. As the 7th largest country in the world, India stands apart from the rest of Asia, marked off as it is by mountains and the sea, which give the country a distinct geographical entity. Bounded by the Great Himalayas in the north, it stretches southwards and at the Tropic of Cancer, tapers off into the Indian Ocean between the Bay of Bengal on the east and the Arabian Sea on the west. Lying entirely in the northern hemisphere, the mainland extends between latitudes 8 °4? and 37 °6? north, longitudes 68 °7? and 97 °25? east and measures about 3,214 km from north to south between the extreme latitudes and about 2,933 km from east to west between the extreme longitudes. It has a land frontier of about 15,200 km. The total length of the coastline of the mainland, Lakshadweep Islands and Andaman& Nicobar Islands is 7,516. 6 km. 10 | P a g e 3. 3 Geography: Location: The Indian peninsula is separated from mainland Asia by the Himalayas. The Country is surrounded by the Bay of Bengal in the east, the Arabian Sea in the west, and the Indian Ocean to the south. Geographic Coordinates: Lying entirely in the Northern Hemisphere, the Country extends between 8 ° 4? and 37 ° 6? latitudes north of the Equator, and 68 °7? and 97 °25? longitudes east of it. Indian Standard Time: GMT + 05:30 Area: 3. 3 Million sq km Telephone Country +91 Code: Border Countries: Afghanistan and Pakistan to the north-west; China, Bhutan and Nepal to the north; Myanmar to the east; and Bangladesh to the east of West Bengal. Sri Lanka is separated from India by a narrow channel of sea, formed by Palk Strait and the Gulf of Mannar. Coastline: 7,516. 6 km encompassing the mainland, Lakshadweep Islands, and the Andaman & Nicobar Islands. 11 | P a g e Climate: The climate of India can broadly be classified as a tropical monsoon one. But, in spite of much of the northern part of India lying beyond the tropical zone, the entire country has a tropical climate marked by relatively high temperatures and dry winters. There are four seasons – winter (December-February), (ii) summer (March-June), (iii) south-west monsoon season (June-September), and (iv) post monsoon season (October- November). Terrain: The mainland comprises of four regions, namely the great mountain zone, plains of the Ganga and the Indus, the desert region, and the southern peninsula. Natural Resources: Coal, iron ore, manganese ore, mica, bauxite, petroleum, titanium ore, chromite, natural gas, magnesite, limestone, arable land, dolomite, barytes, kaolin, gypsum, apatite, phosphorite, steatite, fluorite, etc. Natural Hazards: Monsoon floods, flash floods, earthquakes, droughts, and landslides. Environment – Current Issues: Air pollution control, energy conservation, solid waste management, oil and gas conservation, forest conservation, etc. Environment – International Agreements: Rio Declaration on environment and development, Cartagena Protocol on biosafety, Kyoto Protocol to the United Nations Framework Convention on climatic 12 | P a g e change, World Trade Agreement, Helsinki Protocol to LRTAP on the reduction of sulphur emissions of nitrogen oxides or their transboundary fluxes (Nox Protocol), and Geneva Protocol to LRTAP concerning the control of emissions of volatile organic compounds or their transboundary fluxes (VOCs Protocol). Geography – Note: India occupies a major portion of the south Asian subcontinent. 3. 4 PEOPLE: Population: 1,21,01,93,422 Decadal Population Male: 9,15, 01,158 Growth: Female: 8,99, 54, 828 Density of Population: 382 per sq. km. Sex Ratio: 940 per 1000 males Nationality: Indian All the five major racial types – Australoid, Mongoloid, Europoid, Caucasian, and Negroid find representation among the people of India. Ethnic Groups: 13 | P a g e Religions: Hindus constituted the majority with 80. 5 %, Muslims came second at 13. 4%, followed by Christians, Sikhs, Buddhists, Jains, and others. Languages: There are 22 National Languages have been recognized by the Constitution of India, of which Hindi is the Official Union Language. Besides these, there are 844 different dialects that are practiced in various parts of the Country. Literacy: Persons: 77,84,54,120 Males: 44,42,03,762 Females: 33,42,50,358 GDP: Nominal GDP stands at US$1. 53 trillion as per 2010 census 3. 5 UNDERSTANDING LUXURY AND AQUAINTING WITH LUXURY FASHION BRANDS: FOCUS : Getting introduced to the term ? LUXURY? Luxury, derived from the Latin word luxus, means indulgence of the senses, regardless of cost. Luxury is something that everyone wants but nobody needs, its an area of huge comfort and the best of the best. 14 | P a g e A luxury brand is a brand for which a majority of its products are luxury goods. It may also include certain brands whose names are associated with luxury, high price, or high quality, though few, if any, of their goods are currently considered luxury goods. The luxury sector targets its products and services at consumers on the top-end of the wealth spectrum. These self-selected elite is more or less price insensitive and chooses to spend their time and money on objects that are plainly opulence rather than necessities. For these reasons, luxury and prestige brands have for centuries commanded an unwavering and often illogical customer loyalty. 3. 6 DEFINING LUXURY: The concept of luxury has been present in various forms since the beginning of civilization. Its role was just as important in ancient western and eastern empires as it is in modern societies. With the clear differences between social classes in earlier civilizations, the consumption of luxury was limited to the elite classes. It also meant the definition of luxury was fairly clear. Whatever the poor cannot have and the elite can was identified as luxury. With increasing ? democratization‘, several new product categories were created within the luxury markets that were aptly called – accessible luxury or mass luxury. This kind of luxury specifically targeted the middle class (or what is sometimes termed as aspiring class). As luxury penetrated into the masses, defining luxury has become difficult. In contemporary marketing usage, Prof. Bernard Dubois defines ? luxury‘ as a specific (i. e. higher-priced) tier of offer in almost any product or service category. However, despite the substantial body of knowledge accumulated 15 | P a g e during the past decades, researchers still haven‘t arrived on a common definition of luxury. Many other attempts have been made to define luxury using the price-quality dimension stating higher priced products in any category is luxury. Similarly, researchers have used the uniqueness aspects of luxury too. Prof. Jean-Noel Kapferer, takes an experiential approach and defines luxury as items which provide extra pleasure by flattering all senses at once. Several other researchers focus on exclusivity dimension and argue that luxury evokes a sense of belonging to a certain elite group. 3. 7 SOCIO ECONOMIC SIGNIFICANCE OF LUXURY: Several manufactured products attain the status of â€Å"luxury goods† due to their design, quality, durability or performance that are remarkably superior to the comparable substitutes. Thus, virtually every category of goods available on the market today includes a subset of similar products whose â€Å"luxury† is marked by better-quality components and materials, solid construction, stylish appearance, increased durability, better performance, advanced features, and so on. As such, these luxury goods may retain or improve the basic functionality for which all items of a given category are originally designed. There are also goods that are perceived as luxurious by the public simply because they play a role of status symbols as such goods tend to signify the purchasing power of those who acquire them. These items, while not necessarily being better (in quality, performance, or appearance) than their less expensive substitutes, are purchased with the main purpose of displaying wealth or income of their owners. These kinds of goods are the objects of a socio-economic phenomenon called conspicuous consumption and commonly include luxury vehicles, watches, jewelry, designer clothing, yachts, as well as large residences, urban mansions, and country houses. 16 | P a g e 4. 0 AQUAINTING WITH THE LUXURY FASHION BRANDS Luxury fashion brands have often been associated with the core competencies of creativity, craftsmanship, precision, high quality, innovation, & premium pricing. These product attributes give the consumers the satisfaction of not only owning expensive items but the extra-added psychological benefits like the esteem, prestige and a sense of a high status that reminds them and others that they belong to an exclusive group of only a select few, who can afford the pricey items. The luxury sector targets its products and services at consumers on the top-end of the wealth spectrum. These self-selected elite are more or less price insensitive and choose to spend their time & money on objects that are plainly opulence rather than necessities. For these reasons, luxury and prestige brands have for centuries commanded an unwavering and often illogical customer loyalty. 17 | P a g e Luxury has never been something easy to define; yet this mystery concept is something highly desired by one & all alike. I look at delving deeper into this mystery and aura of luxury goods by way of comparing them against ? regular goods‘ as well as highlighting the characteristics of the luxury industry. But before beginning with that, lets first attempt to understand some common terms associated in the world of high-end goods. Luxury and Prestige brands such as Rolex, Louis Vuitton and Tag-heuer represent the highest form of craftsmanship and command a staunch consumer loyalty that is not affected by brands. These brands create and set the seasonal trends and are also capable to pulling all their consumers with them wherever they go. 18 | P a g e Premium brands are those brands like Polo, Ralph Lauren, Versace and Tommy Hilfiger that aspire to be luxury and prestige brands but their marketing mix strategies are more attuned to a mass market, albeit a luxury mass market. They also termed as mass Premium brands or luxury brands. Fashion brands are those that address the masses. LVMH (Louis Vuitton Moet Hennessy) is the largest luxury good producer in the world with over fifty brands, including Louis Vuitton, the brand with the world’s first designer label, other famous fashion brands are Chanel, Gucci etc. 19 | P a g e Luxury is a Hub of Business Luxury brands take the elements they feel passionate about, add design then develop it and present it to the customers that exceed their expectations. A luxury good is a product at the highest end of the market in terms of quality and price. Classic luxury goods include haute couture items such as clothing, accessories and luggage. However, many markets have a luxury segment including for instance, cars, wine and chocolates. Such brands share characteristics like consistent premium quality, a heritage of craftsmanship, a recognizable style or design, a limited production run of any item to ensure exclusivity, an element of uniqueness and an ability to keep coming up with new designs when the category is fashion-intensive. Keeping it simple and realistic, luxury is anything and everything that you may truly desire; it can be short lived or a life long desire – it is ? your‘ emotional connect and reward that allows it to appear as luxury. 20 | P a g e 4. 1 MAJOR DIFFERENCES BETWEEN REGULAR BRANDS AND LUXURY BRANDS: FACTOR REGULAR GOODS LUXURY GOODS Available at posh, PLACE Available at convenience and according to the product category exclusive and selected locations ? Highly customized or ? Multiple mass variances but PRODUCT standardized. ? Service levels range from low to high. limited editions of products. ? Very high personnel service. PRICING Value for money Premium pricing ? Pre- ? All kinds of media (ATL, BTL) used. ? Product functional and aspirational PROMOTION value appeals. ? All kinds of reference group appeals used. dominantly premium above the line media. e. g. Connoisseur, Magazines, 21 | P a g e Travel media) ? Products have the exclusive appeal. ? Mostly celebrity appeals. Luxury goods are Those goods for which demand is inversely proportional to price. also called as Veblen‘s goods, the demand for the product is said to increase with the increase in price. ECONOMIC DEFINITION BRAND EXTENSION DECISIONS Based on defending your turf. (R&D based decisions to an extent). Based on marketing the luxury brand. DRIVERS OF BRANDS Functional attributes and innovation. Tradition and brand heritage. Source: Luxury Marketing, Samit khanna- IIM-A 22 | P a g e 4. 2 PERSONA OF INDIAN LUXURY INDUSTRY: FOCUS : Understanding the characteristics of luxury brands. CHARACTERISTICS OF INDIAN LUXURY INDUSTRY: 1. THE MEANING OF LUXURY HAS CHANGED: Luxury has moved from its ? old‘ meaning of ownership (also known as conspicuous consumption – Conspicuous consumption is a term used to describe the lavish spending on goods and services that are acquired mainly for the purpose of displaying income or wealth rather than to satisfy a real need of the consumer. In the mind of a conspicuous consumer, such display serves as a means of attaining or maintaining social status. Invidious consumption, a necessary corollary, is the term applied to consumption of goods and services for the deliberate purpose of inspiring envy in others) of objects to the ? new‘ meaning of the experience / fulfillment derived from possessing a certain object. 2. LUXURY MEANS DIFFERENT TO DIFFERENT PEOPLE: Luxury has no certified origins. But luxury branding is said to have taken birth in the west with the appearance of high-end brands. But there is still no definite meaning of luxury, for someone luxury can be a necessity and vice-versa. If one can think a luxury brand is really cheap, its not necessary that the other person also will think the same way. Luxury is yet to be defined, it totally differs from person to person. 23 | P a g e 3. LUXURY IS A PRODUCT CATEGORY IN ITSELF: This can be best clarified by the fact that both an expensive watch and an apparel can be considered to be luxury items. Therefore, all luxury marketers are not just competing in their ? technically defined‘ product categories (like manufacturers of televisions compete among themselves) but for the wallet share of luxury goods in total. 4. CLASSIFICATION OF LUXURY CONSUMERS: SRI Consulting Business Intelligence places consumers in 3 groups according to what luxury means to them: Luxury is Indulgence – This group is the smallest of the three and tends to include younger consumers and slightly more males than the other two groups. Their purpose for luxury goods is to lavish themselves in self-indulgence. They are willing to pay a premium for goods that express their individuality and make others take notice and are not overly concerned with product longevity or possible criticism. They enjoy luxury for the way it makes them feel, therefore have a more emotional approach to purchases. They respond well to messages that highlight the unique and emotional qualities of a product. Luxury is Reward – These consumers tend to be younger than the first group but older than the third. They use luxury goods as a status symbol to say ? I‘ve made it! ? They are motivated by their desire to be successful and demonstrate this to others. Luxury brands that have widespread recognition are popular, however they don‘t wish to appear lavish or hedonistic in their appearance. They want to purchase ? smart? luxury that demonstrates importance while not 24 | P a g e leaving them open to criticism. Marketing messages that communicate acceptable exclusivity resonate with this group. Luxury is Functional – these consumers tend to buy luxury products for their superior functionality and quality. Consumers in this segment, the largest of the three, tend to be older and wealthier and are willing to spend more money to buy things that will last and have enduring value. They buy a wide array of luxury goods, from artwork to vacations, and conduct extensive prepurchase research, making logical decisions rather than emotional or impulsive. Messages that highlight product quality and are information-intensive are powerful with this group. 5. CUSTOMER LOYALTY IS MORE IMPORTANT THAT BRAND AWARENESS: Rather than focus on measuring the brand awareness of a luxury company, measuring customer loyalty is far more significant a metric regarding the success or failure of corporate strategy to connect with the luxury consumer. 6. CERTAIN FACTORS WHICH PLAY A N IMPORTANT ROLE: In luxury marketing there is a subtle interplay between three factors that most strongly influence the luxury consumer to buy: product brand; dealer or store’s brand or service providers’ reputation; and price/value relationship. 25 | P a g e USERS OF LUXURY BRANDS IN INDIA: ? CEOs and other senior professionals (in their thirties and early forties) ? Entrepreneurs in new businesses ? â€Å"Prodigal children† ? Actors and models ? Franchisees, and small and medium Retailers 4. 3 FAMOUS LUXURY BRANDS AND THEIR DESTINATIONS IN INDIA FOCUS : To evaluate about all the famous luxury brands available in India and the places where they are available. UB CITY- THE COLLECTION, BANGALORE: UB City is the biggest commercial property project in Bangalore, India. Pioneered by the chairman of UB Group, Dr. Vijay Mallya , it is built on 13 acres (53,000 m2) of land and hosts 1,000,000 sq ft (93,000 m2) of high-end commercial, retail and service apartment space. UB City has four towers namely, UB Tower (19 Floors), Comet (11 Floors), Canberra (17 Floors) and Concorde (19 Floors). UB City has four towers namely, yelahanka. The later three towers are all named after aircraft. UB City will house the Group offices under one roof – UB Tower. Concorde & Canberra will have retail space on the lower floors and office space in the higher levels, while Comet will have serviced apartments. It will house commercial offices, banks, high-end retail stores, a five star hotel, 26 | P a g e serviced apartments, restaurants, food courts, pubs, health clubs and cafes. Multi-level parking areas will offer virtually unlimited parking spaces. Also on the blueprint is an amphitheatre with food courts and landscaped gardens. UB City will provide parking space for over 1,100 cars. Being an environment friendly project and keeping in mind the green surroundings of Cubbon Park, one-third of the space has been earmarked for landscaped gardens. An elevated roof top helipad will provide a five-minute aerial commute to the airport. Four storeys of multi level parking, in addition to one common basement for the entire UB City and extensive surface level car parks, will provide UB City the remarkable prospect of offering literally unlimited car parking space. BRANDS AVAILABLE AT UB CITY-THE COLLECTION: ? Louis Vuitton ? Alfred Dunhill ? Estee lauder ? Mont Blanc ? Zimson ? Rolex ? Canali ? Salvatore Ferragamo ? Paul Smith ? Lladro ? Versace ? Corneliani ? Burberry ? Jimmy Choo ? Diesel 27 | P a g e DLF EMPORIO, NEW DELHI- DLF Emporio has been designed as a name synonymous with luxury – offering a unique shopping experience where the accent is on exclusivity, space and aesthetics. There is simply no other place where such a wealth of designer and premium merchandise, lifestyle products and services are showcased under one elegant roof. The nuances of luxurious serenity are going to be expressed at DLF Emporio in a way found only in the fashion capitals of the world, offering just the right kind of tasteful and sublime ambience to attract high value spenders. 28 | P a g e DLF EMPORIO RETAIL MIXGreat care is being taken to ensure that the global retail community at DLF Emporio is the most premium. Only the finest signature brands, designer labels and high end lifestyle products co-exist here. Some of the brands in DLF Emporio include Giorgio Armani, Salvatore Ferragamo, Louis Vuitton, Cartier, Fendi, Dior, Just Cavali, DKNY, Tods, Burberry, Hugo Boss to name a few. ESSENTIAL PLAYERS OF THE LUXURY MARKET IN INDIA: ? JEWELLERY- Cartier, De Beers, Tiffanys etc. ? CLOTHING- Louis vuitton, Varsace, Armani, Chanel, Gucci etc. ? ACCESSORIES- Fendi, Jimmy Choo, Ferragamo Salvatore etc. ? AUTOMOBILES- Mercedes, Volvo, BMW, Volkswagen, Nissan, Audi etc. 29 | P a g e 30 | P a g e 5. 0 SWOT ANALYSIS: FOCUS : To do the swot analysis and ascertain the major problems faced by the international fashion brands in India. STRENGTH WEAKNESS 1. Brand Name/Brand Ambassadors 2. Customer Loyalty 3. Quality 4. Global Presence 1. Concentrated Market-only metro cities 2. Government Regulations 3. High Prices 4. Percentage of target audience is Less 5. Higher Operational cost-rents. OPPORTUNITY THREATS 1. Manufacturing the brands in India 1. Fake branded stuff available in India itself rather than importing it 2. FDI Regulations 3. Globalization 2. Available at cheaper prices abroad 31 | P a g e 5. 1 MAJOR PROBLEMS FACED BY THE LUXURY FASHION INDUSTRY- 1. LACK OF AWARENESS OF BRANDS AMONGST INDIAN CONSUMERS: The Indian consumers are not aware of the brands available in India, Most rich people who can afford the luxury brands either live in smaller towns and cities where there is no outlet or awareness of the brands. 2. PREFERENCE OF BUYING FROM FOREIGN COUNTRIES: People who are aware of the brands and live in metro cities and have a higher disposable income prefer buying from abroad as they travel a lot and so they prefer buying from abroad itself as they get a better and wide variety of products with lesser prices. 1. DUPLICATION AND KNOCK-OFFS: There are a lot of duplicate and knock-offs available in the Indian market. Most of these products come from China. The same branded product, which is available for 25000 Rs. , is available for 1500 Rs. When it is not authentic. Though the quality of these products is not good, they appear to be the same and hence people don‘t mind buying them. But people in India do not believe in authenticity, if they see the name and the knock-off looks exact, they buy that item as they believe in showing off. 32 | P a g e 2. LACK OF RETAIL SPACE: The luxury retail stores are located in 5 star hotels or malls in selected cities, as we all know that there are only two luxury malls in India, The collection-UB City, Bangalore and the DLF-Emporio Mall, New Delhi, because that is where the potential customers are most likely to come for shopping, hence the feasible space available is very less. 3. LOW CUSTOMER TURNOVER: The number of customers who visit a luxury store is comparatively lower than a regular store. Also the luxury store outlets are located exclusively in certain areas and are sometimes not accessible by everyone, this factor also affects the customer turnover. 4. HIGH OPERATIONAL COST: The cost of operating a luxury outlet is high because the size of the store has to be elaborated and also it has to locate at a prime location in major cities. Due to the image that is associated with luxury products, the cost of maintaining the store is high because it has to look upbeat all the time. At the same time these stores normally situated in 5 star hotels or big shopping malls where the rents charged are very high and hence the cost is further increased. 5. 2 GROWTH AND POTENTIAL OF LUXURY BRAND: FOCUS : Study about the roots and the growth of the luxury market of India. LUXURY is no stranger to India. The erstwhile maharajas and princes led a life of opulent splendor. The only way to be apart of the elite as to be born into it. 33 | P a g e The lifestyle as also associated with hunting, polo and her games of the rich. New money could never get into this circuit. The aspiration was always there. But the princes operated in a different league altogether. The era of the selfmade millionaire was yet to arrive. So small possessions, or copied fashion designs with a few geegaws thrown in, became the height of luxury. An achiever of the 1970s could only get by with a good foam mattress — no Omega, Rolex or BMWs. This trend saw a shift, a gradual one, in the 1980s. Luxury began creeping into upper class homes through small things and symbols. The colour TV came in, the humble pen was elevated to a Parker, successful self-made people began to be featured in magazines. The concept of luxury as a reward for achievement gained acceptance, though royalty and the aristocracy continued to remain the benchmark of the elite. The real change came in the 1990s when more people started making more money. There was a sudden explosion of colour and things and objet D’arts began to appear. In order to gain access to luxury and class one could just go out and charge it. What contributed to this shift? India opened up to the world. The liberalization process brought more than high economic growth rates. It showed the people what was possible. In the process, it has altered mindsets. The IT revolution, and the consequent demand for Indian brainpower, has created a whole new breed of wealthy global Indians. At the other end, an increasingly open economy has created new b