Cis170 Essay Example for Free

Cis170 Essay using System. Collections. Generic; using System. Linq; using System. Text; namespace Lab5A { class Program { static void Main(string[] args) { string[] playerName = new string[100]; int[] playerScore = new int[100]; int c = 0; c=InputData(ref playerName, ref playerScore); double avg= CalculateAverageScore(ref playerScore,c); Console. WriteLine(Name Score); DisplayPlayerData(ref playerName, ref playerScore, c); Console. WriteLine(); Console. WriteLine(Average Score: + avg + ); Console. WriteLine(Players Who Scored Below Average); Console. WriteLine(Name Score); DisplayBelowAverage(avg, ref playerName, ref playerScore,c); } static int InputData(ref string[] player, ref int[] score) { int addName = 0,counter=0; do { Console. Write(Enter Players Name (Q to quit): ); player[counter] = Console. ReadLine(); if (player[counter] == q || player[counter] == Q) { addName = 1; } else { Console. Write(Enter score for {0}: , player[counter]); score[counter] = Convert. ToInt32(Console. ReadLine()); counter++; } } while (addName ! = 1); eturn counter; } static void DisplayPlayerData(ref string[] playerName, ref int[] playerScore,int counter) { for (int i = 0; i lt; counter; i++) { Console. WriteLine({0} {1}, playerName[i], playerScore[i]); } } static double CalculateAverageScore(ref int[] playerScore,int counter) { int total = 0, avg = 0; for (int i = 0; i lt; counter; ++i) { total += Convert. ToInt32(playerScore[i]); } if (playerScore. Length gt; 0) avg = total / counter; return avg; } static void DisplayBelowAverage(double avg, ref string[] playerName, ref int[] playerScore,int counter) { or (int i = 0; i lt; counter; i++) { if (playerScore[i] lt; avg) { Console. WriteLine({0} {1}, playerName[i], playerScore[i]); } } Console. ReadLine(); } } } Part B: using System; using System. Collections. Generic; using System. Linq; using System. Text; using System. Collections; namespace Week_5_iLab_Part_B { class Program { static void Main(string[] args) { string response = y; ArrayList LastNameAL = new ArrayList(); //Console. Write(Enter a last name: ); //LastNameAL. Add(Console. ReadLine()); //Console. Write(Keep Going? (Y/N) ); //response = Console. ReadLine(); while (response == y) { Console. Write(Enter a last name: ); LastNameAL. Add(Console. ReadLine()); Console. Write(Keep Going? (y/n) ); response = Console. ReadLine(); } Console. WriteLine(LastNameAL. Count + last names entered. ); Console. WriteLine(Last names in ascending order. ); LastNameAL. Sort(); foreach (string s in LastNameAL) { Console. WriteLine(s); } Console. WriteLine(Last names in descending order. ); LastNameAL. Reverse(); foreach (string s in LastNameAL) { Console. WriteLine(s); } Console. ReadLine(); } } }

Accent Strength And Regional Accents

Accent Strength And Regional Accents At a party one night a visitor from another country remarks that You dont have so strong an accent as your friends. You had previously believed that you had no accent and that you spoke like your friends, but the statement helps you to realize that you carry a regional accent, just like everyone else around you. What explanation could you offer your visitor for why you never realized that fact before and why you really do have an accent just like the one your friends have? What explanation could you offer your visitor for why you never realized that fact before? What explanation could you offer your visitor for why you really do have an accent just like the one your friends have? 1) Why I never realised that: a) I had no accent. b) My accent is not as strong as my friends. c) I have an accent just like one of my friends. WHY I NEVER REALISED THAT I HAD AN ACCENT. Most people dont realize that they have an accent because they are accustom to the pronunciation and rhythm of speech in their country. It sounds normal hearing other Trinidadian speak. Whenever I meet foreigners, it intrigues me to hear their accent and I try to figure out which country they are from. Hearing a foreigners accent sounds strange to me because it is not the norm in my place of abode. Although most people have an accent they do not acknowledge this greatly. We live in a society where mostly everyone speaks and sounds the same, with the exception of foreigners and those with speak difficulties. We always consider the main accent as normal and any other accent as funny or strange. I never realized this because I lived my entire in Trinidad and never travelled or lived abroad where my accent was not the popular. Hearing you speak to me makes me realize that the way I speak CUNNING LINGUISTICS Everyone has an accent. Some readers might think, No shit! Thats obvious! But its not obvious, smart arse. A survey held in Britain in 2005 revealed that 7% of respondents dont believe they have an accent. I would claim that the actual figure is even much higher than that. Were all prisoners of our own culture. Living within a society, were surrounded and bombarded by a majority accent. To us, that accent sounds natural and other accents sound different. Sometimes we confuse the familiar accent as being right, and the different ones as being wrong. It may sound silly, but I never realised I had an accent until I set foot in England at age 25. Having lived in Trinidad for my whole life, to me when Trinis spoke it sounded normal. But in England, as soon as I said something people would look at me. The funny thing too is that I had to learn what my accent sounded like by listening to my other Trini friends, and still I didnt think they had an accent. Then I realised I had to listen to intonations of how Trinidadians spoke. Some people change their accents to blend in. However, I think my accent got even thicker, as my way to hold on to my Caribbean identity, and I revelled in speaking Trinidadian Creole (which is a dialect that was formed by slaves mixing English with their own language, and includes unique words and sayings). People say Trinidadians accent sounds happy. To quote a previous boss, she said it sounded like a lilt. When I speak Standard English people understand it quite well. Like Paull says, it depends on how its delivered; its the slang/ dialect that can confuse people. Ive spoken with Paull, and another Aussie and had no problems understanding them. Seems they understood me quite well also, and our accents are quite different. Ask A Linguist FAQ What is an accent? An accent is a way of pronouncing a language. It is therefore impossible to speak without an accent. Some people may think they do not have an accent. Or you may think that there are other people who do not have an accent. Everyone has an accent. The term accentless is sometimes used (by non-linguists) about people who speak one of the high prestige reference accents (such as General American or, less commonly, RP), which are associated with people from a fairly wide region and with people of high social class. But these are also accents. I will mention them again later in this FAQ. MY ACCENT IS NOT AS STRONG AS MY FRIENDS CUNNING LINGUISTICS Accents dont just vary at the level of nationality (e.g., Aussie) or region (e.g., Boston). They also vary with the individual (e.g., you). Your accent is a fingerprint, a totally unique, distinctive way of talking (linguists call this an idiolect). It isnt fixed though. It can change, with the right combination of influence and interest. Recently, some twit asked me, Why dont you sound American yet? Okay, Ive been in the States for two and a half years now, and my accent now sounds a little different to me. But, by contrast, this difference is generally imperceptible to Americans (and non-linguists). Your accent does leave a Hansel and Gretel-like trail of where youve been. Obviously, it takes awhile for a new accent to kick in. Other factors can influence this process too, whether you want to adopt an accent (convergence) or dont want to adopt it (divergence). Accents are like tracking devices that can reveal where youve been. The field of Forensic Linguistics investigates this area. In August 2005, a militant video of an al-Qaeda fighter was found. A forensic linguist was able to determine several aspects of the fighters identity, that he had been raised in Australia and possibly had parents of Middle Eastern descent. This area is useful in legal cases, especially for identification, transcription and in authenticating recordings. Accent (linguistics) Prestige Certain accents are perceived to carry more prestige in a society than other accents. This is often due to their association with the elite part of society. For example in the United Kingdom, Received Pronunciation of the English language is associated with the traditional upper class. I HAVE AN ACCENT JUST LIKE ONE OF MY FRIENDS CUNNING LINGUISTICS Another twit drives around with a bumper sticker on his SUV proclaiming: Welcome to America. Nowà ¢Ã¢â€š ¬Ã‚ ¦speak English or get out! What a funny fuck! This pseudo-patriotic, prejudiced twit has no control over who speaks what and where. This is a dynamic process that he can only witness. American English may be the fastest growing version of Englishà ¢Ã¢â€š ¬Ã‚ ¦but Spanish is the fastest growing language in Americaà ¢Ã¢â€š ¬Ã‚ ¦ So, accents can reveal our regional origins, but they can also suggest what kind of social circles we move in. Compare the Queen of Englands accent to that of a miner in Yorkshire. Accent can also provide info about your economic background and education. Stop practicing your accentà ¢Ã¢â€š ¬Ã‚ ¦I can hear you right now! Accent (linguistics) As human beings spread out into isolated communities, stresses and peculiarities develop. Over time these can develop into identifiable accents. In North America, the interaction of people from many ethnic backgrounds contributed to the formation of the different varieties of North American accents. It is difficult to measure or predict how long it takes an accent to formulate. Accents in the USA, Canada and Australia, for example, developed from the combinations of different accents and languages in various societies, and the effect of this on the various pronunciations of the British settlers, yet North American accents remain more distant, either as a result of time or of external or foreign linguistic interaction, such as the Italian accent. In many cases, the accents of non-English settlers from Great Britain and Ireland affected the accents of the different colonies quite differently. Irish, Scottish and Welsh immigrants had accents which greatly affected the vowel pronunciation of certain areas of Australia and Canada Social factors When a group defines a standard pronunciation, speakers who deviate from it are often said to speak with an accent. People from the United States would speak with an accent from the point of view of an Australian, and vice versa. Accents such as BBC English or General American may sometimes be erroneously designated in their countries of origin as accentless to indicate that they offer no obvious clue to the speakers regional background. Groups sharing an identifiable accent may be defined by any of a wide variety of common traits. An accent may be associated with the region in which its speakers reside (a geographical accent), the socio-economic status of its speakers, their ethnicity, their caste or social class, their first language (when the language in which the accent is heard is not their native language), and so on. Regional accents of English Local accents are part of local dialects. Any dialect of English has unique features in pronunciation, vocabulary, and grammar. The term accent describes only the first of these, namely, pronunciation. See also: List of dialects of the English language. Non-native speakers of English tend to carry over the intonation and phonemic inventory from their mother tongue into their English speech. For more details see Non-native pronunciations of English. Among native English speakers, many different accents exist. Some regional accents are easily identified by certain characteristics. Further variations are to be found within the regions identified below; for example, towns located less than 10 miles (16 km) from the city of Manchester such as Bolton, Oldham and Salford, each have distinct accents, all of which form the Lancashire accent, yet in extreme cases are different enough to be noticed even by a non-local listener. There is also much room for misunderstanding between people from different regions, as the way one word is pronounced in one accent (for example, petal in American English) will sound like a different word in another accent (for example, pearl in Scottish English). Your accent results from how, where, and when you learned the language you are speaking and it gives impressions about you to other people. People do not have a single fixed accent which is determined by their experiences. We can control the way we speak, and do, both consciously and unconsciously. Most people vary their accent depending on who they are speaking with. We change our accents, often without noticing, as we have new life experiences. How accurate people are in knowing about you from your accent depends not only on the features of your accent, but also on who the listener is, and what they know about the other people who speak with a similar accent to you. Your accent might be one that is associated with people from a particular place (for example, with being from New York, London, or Delhi). Some people might just hear you as simply being from the US, England, or India. Your accent might give the impression that you spoke some other language before the one you are speaking at the moment (you might speak French with an English accent, or English with a Korean accent). Its impossible to speak without conveying some information through your accent. All languages are spoken with several different accents. There is nothing unusual about English. And not everyone who comes from the same place speaks the same: in any place there is a variety of accents. Language changes over time. We get new words, there are grammatical changes, and accents change over time. If you listen to recordings made by people from your own language community 100 years ago, you will hear for yourself that even over that time accents have changed. Try out some of the links from the Spoken Word Archive Group , for example. Why do languages develop different accents? Human nature. In all sorts of ways, we behave like those we mix with. We are members of social groups, and within our social group we like to behave in similar ways and show that we belong. We do this in language as well as in other ways (e.g. what we wear, what we eat). When groups become distinct, the way they speak becomes distinct too. This happens socially and geographically, but is easiest to illustrate by geographical differences. If a single group splits into two (imagine that one half goes to Island A and one half to Island B), then once they have separated, their accents will change over time, but not in the same way, so that after just one generation the accent of Island A will be different from the accent of Island B. If they stay completely separated for centuries, their dialects may become so different that we will start wanting to say they are speaking two different languages. Why are the accents a particular place like they are? Separate development accounts for some accent variation. But sometimes we need to talk about the first generation of speakers of a particular language brought up in a new place. The first children to grow up in a new place are very important. The children who grow up together are a peer group. They want to speak the same as each other to express their group identity. The accent they develop as they go through their childhood will become the basis for the accents of the new place. So where does their accent come from? The first generation of children will draw on the accents of the adults around them, and will create something new. If people move to a new place in groups (as English speakers did to America, Australia and New Zealand) that group usually brings several different accents with them. The children will draw on the mixture of accents they hear and create their own accent out of what they hear. The modern accents of Australia are more similar to London accents of English than to any other accent from England this is probably because the founder generation (in the eighteenth century) had a large component drawn from the poor of London, who were transported to Australia as convicts. The accents of New Zealand are similar to Australian accents because a large proportion of the early English-speaking settlers of New Zealand came from Australia. The mix found in the speech of the settlers of a new place establishes the kind of accent that their children will develop. But the first generation born in the new place will not keep the diversity of their parents generation they will speak with similar accents to the others of their age group. And if the population grows slowly enough, the children will be able to absorb subsequent children into their group, so that even quite large migrations of other groups (such as Irish people into Australia) will not make much difference to the accent of the new place. Most parents know this. If someone from New York (US) marries someone from Glasgow (Scotland, UK), and these two parents raise a child in Leeds (England, UK), that child will not speak like either of the parents, but will speak like the children he (I know of such a child!) is at school with. About Accents By Shiromi Nassreen, eHow Contributor When we hear a voice, one of the first things we might notice is a persons accent, particularly if that accent happens to be different from our own. If we cant see the person, we may even come to conclusions based on the accent. Accents can give us perceptions about a person that are not always accurate, such as how intelligent the person is or how much money he makes. What is an Accent? 1. An accent is the way in which a person pronounces a word in a language. Accents are caused by a number of factors, primarily the region that someone is from, where he learned to speak the language and his social background. However, despite that fact that accents tend to give away information regarding a persons background, accents can be changed. In fact, people will often unknowingly change their accents to fit their current location and social group. Some believe that they dont have an accent because it is a more commonly known accent such as the General American accent or the British Received Pronunciation typically seen on television; however, it is still an accent. The Origin of Accents 2. Accents develop and change naturally over time. However, a primary cause for the changing of an accent is when groups of people migrate to new locations. People will usually speak with the same accent as their peers. This helps to create a group identity. When groups migrate, such as the settlers of North America, they find themselves among a group where a variety of languages and accents is being spoken. The children of that group will draw on the accents spoken around them and develop a new accent. Accents and Development 3. Accents are often developed during childhood. Generally, children often find it easier to pick up accents. If a child whose parents are from England moves to Australia, the child is unlikely to speak with an English accent, speaking instead with the accent of the childs peers. However, should the child as an adult later wish to change her accent, that is also possible. Accents and Social Factors 4. Accents can not only indicate a region that a person is from but also that persons social background. Often certain accents are stereotypically associated with a certain class. British Received Pronunciation is usually associated with the upper class and a well-educated person. According to a study at Bath Spa University, the Brummie accent of Birmingham is thought to be the least intelligent of all the British regional accents studied. However, a person unfamiliar with these stereotypesan American, for examplewould not have the same perceptions of the accent.

Currency Risk Management in Indian Banks

Currency Risk Management in Indian Banks EXECUTIVE SUMMARY The objective of the project is to study the attitude of Indian corporates towards currency risk management and the problems faced by the companies dealing with their currency exposure which occur as a result of exports or imports or both. The study has also included the problems faced by the banks, the authorised dealers of foreign exchange in India, in managing their forex (foreign exchange) market operation as it has large implication on the corporate currency exposure. Indian corporates have an attitude of staying away from the currency market. Companies consider hedging as unwanted cost centres. Periods of exchange rate stability bred complacency. Importers are confident that the Central banks shall intervene to halt any rupee decline where a exporters are of the view that rupee has always been over rated and that there is no way that it shall appreciate from the present value. These reason keep them away from hedging their exposures. Companies which are involved in hedging, go the conservative and orthodox way to hedge their exposure. Not a single company surveyed, take financial derivatives other than forward contracts as tool for hedging their exposure. This is mainly because of lack of awareness and experience. Many of the companies feel that the importance of currency risk management will increase, in coming years but very few of them are making themselves ready to face the situation. Banks that act as facilitators are also suffering from acute problems. Public sector banks, which control 75% of Indian forex market, have always been under staffed and governed by bureaucratic rules. The market for derivatives other than forward contracts is very shallow. Many of the banks reason it out to be as a result of corporate reluctance and lack of information and technology. Most of the banks in public sector do not merge the forex and money operation and they do not treat their forex operation as a separate profit centre. This bred inefficiency in their working which has affected the corporate sector. The corporates have been recommended to look strategically into their exposure and take prudent decision in hedging. This decision should be backed by professional treasurers, an efficient back office and good forecasting techniques. They have been asked to go in for various other derivatives that are flexible and cost effective. The banking sector has been recommended to recruit specialised personnel for the job with latest technology to deal in the market. They should start providing variety of other derivatives to the industry. They should also merge their money market and forex operation and treat is as a separate profit centre. These all measures will definitely make the forex market deep and vibrant, which will make the work easier for corporates in dealing with the currency exposure. 1. INTRODUCTION â€Å"We have to sleep with one eye open† Managing director of an Indian company with investments in Indonesia. This was in reference to the Indonesian rupiah crash which followed the nearly 100 percent, Thai currency plunge after the bahts free float last July with the Indonesian currency in downward spiral and interest rates shooting northwards, Indian companies with investment in South-east Asia are in the midst of the maelstrom and are desperately scrambling to get a grip of this unprecedented situation even as they wonder: what next? If only they could have got the wind of the disaster things would have been bit different for them. The spate of Southeast Asian currency plunge has sent warning signals to the developing economies to set their level in order to face crisis. Companies have to set their house in order and give a micro as well as macro look at the currency exposure which they are facing. With increase in volume of business in external sector, companies should make themselves tuned to the dynamics of foreign exchange (currency) market. 1.1 Currency RISK MANAGEMENT An asset or a liability or an expected future cash flow stream (whether certain or not) is said to be afflicted with currency risk when currency movement changes (for better or for worse) the home currency value. There is always a possibility of the exchange rate changing between the home and foreign currencies, interest rate differentials widening and inflationary effects amounting, to an adverse reaction for the expected cash flows . The concept of currency risk also emanates when an investor is planning to diversity his portfolio internationally to improve the risk- return trade off by taking advantage of the relative correlation among risks on assets of different countries. This involves investing in a variety of currencies whose relative values may fluctuate , it involves taking currency risks. The foreign exchange market is psychological in nature. A large number of transactions are speculative in nature which depends upon expectations of a large number of participants. People tend to hitch their expectations to one fundamental. For example, they might look at the money supply in the USA. The logic is that an increase in money supply will result in : Þ An increase in inflation Þ FED squeezing money Þ Interest rate rising Þ Dollar becoming more attractive for holding. But this event of money supply could also lead to a different series of outcomes an shown by the following logic. According to fisherman equation, Nominal rate = Real rate + Inflation rate. An increase in inflation would mean the interest rates would be higher. Higher interest rates on bond and equity prices would make them less lucrative and thus lead to a bearish effect. There would be a selling pressure on the dollar and hence the exchange rates would tend to move against the dollar. Dealings in foreign exchange market is said to be around $ 1000 billion each day. Out of this sizeable chunk of more than 75% is on speculative basis. And this speculation has been pointed out as major cause of the south Asian turmoil. Since the mid 1970s a potent mix of fast-interlocking market and a revolution in information technology has increased the speed, frequency and magnitude of price changes in the financial markets, which, in turn have multiplied both opportunity and risk for the CFO. Not, surprisingly, in the developed markets, much innovative energy has been devoted to devising instruments and mechanisms that enable CFO to survive this turbulence. While creative financial engineering has opened the floodgates for a deluge of products, two broad classes of risk management have evolved. The first deploys a natural hedge to manage exposure to risk. Typically, this means explicitly factoring in risk perceptions when choosing the components of the financing mix. Or, to neutralise exposures in a particular market, a natural hedge could involve taking a counter position in another market. The second class of tools however creates a synthetic hedge by utilising specific financial instruments. Notably, derivatives. 1.2 Problems in Indian foreign exchange market Our foreign exchange market suffers from several constraints. i) There are a lot of ceilings on open positions and gaps and hence there is a virtual absence of market making and position trading. ii) There is prohibition of initiating transactions in the cross currency in the overseas market. iii) Besides the forward contracts, there is no free access to the other products like futures, swaps, etc. The market lacks the required liquidity and depth for the derivatives to be economically viable. 2. Literature review 2.1 THE NATURE OF EXPOSURE AND RISK The value of a firms assets, liabilities and operating income vary continually in response to changes in economic and financial variables such as exchange rates, interest rates, inflation rates, relative prices and so forth. The impact of every financial decision on the value of the firm is uncertain and various options can be evaluated in terms of their risk return characteristics. The nature of uncertainty can be illustrated by a number of commonly encountered situations. An appreciation of the value of a foreign currency (or equivalently, a depreciation of the domestic currency)., increases the domestic currency value of a firms assets and liabilities denominated in the foreign currency receivable and payables, bank deposits and loans etc. It will also change domestic currency cash flows from exports and imports. An increase in interest rates reduces the market value of a portfolio of fixed rate bonds and may increase the cash outflow on account of interest payments. Acceleration in the rate of inflation may increase the value of unsold stocks, the revenue from future sales as well as the future costs of production. Thus the firm is â€Å"exposed† to uncertain changes in a number of variables in its environment. Let us begin with the definition of foreign exchange exposure. Foreign exchange (Currency) exposure is the sensitivity of the real value of a firms assets, liabilities or operating income, expressed in its functional currency, to unanticipated changes in exchange rates. Note the following important points about this definition. Values of assets, liabilities or operating income are to be denominated in the functional currency of the firm. This is the primary currency of the firm and in which its financial statements are published. For most firms it is the domestic currency of their country. Exposure is defined with respect to the real values i.e. values adjusted for inflation. While theoretically this is the correct way of assessing exposure, in practice due to the difficulty of dealing with an uncertain inflation rate this adjustment is often ignored i.e. exposure is estimated with reference to changes in nominal values. The definition stresses that only unanticipated changes in exchange rates are to be considered. The reason is that markets will have already made an allowance for anticipated changes in exchange rates. For instance, an exporter invoicing a foreign buyer in the buyer currency into the price. A lender will adjust the rate of interest charged on the loan to incorporate an allowance for the expected depreciation. From an operational point of view, the question is how do we separate a given change in exchange rate into its anticipated and unanticipated components since only the actual change is observable? One possible answer is to use the forward exchange rate as the exchange rate expected by the â€Å"market† to rule at the time the forward contract matures. Thus suppose that the price of a pound sterling in terms of rupees for immediate delivery (the called spot rate) is Rs. 60.000 while the one months forward rate is Rs. 60.20. We can say that the anticipated depreciation of th e rupee is 20 paise per pound in one month. If a month later, the spot rate turns out to be Rs. 60.30 there has been an unanticipated depreciation of 10 paise per pound. In contrast to exposure which is a measure of the response of value to exchange rate changes, foreign exchange risk is defined as. The variance of the real domestic currency value of assets, liabilities or operating income attribute to unanticipated changes in exchange rates. In other words, risk is a measure of the extent of variability in the values of assets etc. due to unanticipated changes in exchanges rates. 2.2 Classification of Foreign Exchange Exposure and Risk Three types of foreign exchange exposure and risk can be distinguished depending upon the nature of the exposed item and the purpose of exposure estimation. These are as follows. Transaction Exposure: This is a measure of the sensitivity of the home currency value of assets and liabilities which are denominated in foreign currency, to unanticipated changes in exchange rates, when the assets or liabilities are liquidated. Transaction exposure can arise in three ways: * A currency has to be converted in order to make or received payment for good s and services. * A currency has to be converted to repay a loan or make an interest payment (or, conversely, receive a repayment or an interest payments) or. * A currency has to be converted to make a dividend payment. Suppose a firm receives an export order. It fixes a price, manufactures the product, makes the shipment and gives 90 days credit to the buyer who will pay in his currency. A company has acquired a foreign currency receivable, which will be liquidated before the next balance sheet date. The exposure affects cash flows during the current accounting period. If the foreign currency has appreciated between the day the receivable was booked on the day the payment was received, the company makes exchange gain which may have tax implications. In a similar fashion, interest payments and principal repayments due during the accounting period create transaction exposure. Transaction risk can be defined as a measure of uncertainty y in the value of assets and liabilities when they are liquidated. Translation Exposure: Also called accounting Exposure is the exposure on assets and liabilities appearing in the balance sheet but yet to be liquidated. Translation risk is the related measure of variability. The key difference between transaction and translation exposure is that the former involves actual movement of cash while the latter has no direct effect on cash flows. (This is true only if there are no tax effects arising out of translation gains and losses). Translation exposure arises when a parent multinational company is required to consolidate a foreign subsidiarys statements from its functional currency into the parents home currency. Thus suppose an Indian company has a U.K subsidiary. At the beginning of the parents financial year the subsidiary has real estate, inventories and cash valued at pound 1,000,000, pound 200,000 pound 150,000 respectively. The spot rate is Rs. 60 per pound sterling. By the close of the financial year, these have changed to pound 1,200,000, pound 205000 and pound 160,000 respectively. However during the year, there has been a drastic depreciation of the pound to Rs. 56. If the parent is required to translate the subsidiarys balance sheet from pound sterling into rupees at the current exchange rate, it has â€Å"suffered† a translation loss. Note that no cash movement is involved since the subsidiary is not to be liquidated. Also note that there must have been a translation gain on the subsidiarys liabilities. There is broad agreement among theorists that translation losses and gains are only notional accounting losses and gains. The actual numbers will differ according to the accounting practices followed and depending upon the tax laws, there may or may not be tax implications and therefore real gains or losses. Accountants and corporate treasurers however do not fully accept this view. They argue that even though no cash losses or gains are involved, translation does affect the published financial statements and hence may affect market valuation of the parent companys stock. Whether investors indeed suffer from â€Å"translation illusion† is an empirical question. Some evidence from studies of the valuation of American multinationals seems to indicate that investors are quite aware of the notional character of these losses and gains and discount them in valuing the stock. for Indian multinational, translation exposure is a relatively less important consideration since the law doe s not require translation and consolidation of foreign subsidiaries financial statement s with those of the parent companies. Operating Exposure: Unanticipated exchange rate changes not only affect assets and liabilities but also have significant impact on future cash flows from operations. Operating Exposure is a measure of the sensitivity of future cash flow and profits of a firm to unanticipated exchange rate changes. Consider a firm that is involved in producing goods for export and or import substitutes. It may also import a part of its raw materials, components etc. A change in exchange rate (s) gives rise to a number of concerns for such a firm. 1. What will be the effect on sales volume if prices are maintained? If prices are changed? Should prices be changed? For instance, a firm exporting to a foreign market might benefit from reducing its foreign currency price to the foreign customers following an appreciation of the foreign currency. A firm that produces import substitutes may contemplate an increase in it domestic currency price to its domestic customers without hurting its sales. 2. Since a part of the inputs are imported, material costs will increase following a depreciation of the home currency. 3. Labour costs may also increase if cost of living increases and wages have to be raised. 4. Interest costs on working capital may rise if in response to depreciation the authorities resort to monetary tightening. In general, an exchange rate change will affect both future revenues as well as operating costs and hence the operating income. As we will see later, the net effect depends upon the complex interaction of exchange rate changes, relative inflation rates at home and abroad, price elasticities of export and import demand and supply and so forth. Operating exposure and the related risk are extremely difficult to analyse, estimate and hedge against. 2.3 THE INDIAN FOREX MARKET Indian foreign exchange market as compared with their American and European counterparts is till in its infants. The post liberalisation period has witnessed many exchange controls been lifted and introduction of few â€Å"hedging† tools like cross currency option, Range forwards, currency swaps etc. which provide a degree of flexibility to corporates in using the forex markets effectively. The Rupee has been made fully convertible on current account accepting the article VIII status laid down by IMF. This step has seen increased volume of trade in the Indian forex market. Tarapore committee has put the proposal for capital account convertibility. It proposes to deregulate the foreign exchange by year 2002 in three phases. 2.4 PRESENT STATUS Exchange control in India is administered by the Reserve Bank of India, which is empowered by the Foreign exchange regulation Act. The figure shows the players involved in the foreign exchange market from administrative point of view. Foreign Exchange Regulation Act, 1973 Govt. of India Reserve Bank of India Foreign Exchange Dealers Association of India Authorised Dealers Authorised Money Changers Full Fledged Restricted Administration of Foreign Exchange in India. The foreign exchange market in India functions with a three-tier structure which includes (1) Reserve Bank of India, at the apex level, (ii) authorised dealers/money changers conducting foreign exchange trading activities, and (iii) customers which include exporters/importer, corporates and other foreign exchange earners like NRIs etc. The market is highly influenced by State Bank of India and Reserve Bank of India because of their Sheer Size. The RBI constantly intervenes to keep the rupee from appreciating and is responsible for highly liquid spot market as it is a last resort buyer of dollars. The forward market in India is fairly liquid and quotes are easily available up to six months. The RBI prohibits any international speculative access to rupee. 2.5 SIZE AND DEPTH OF THE MARKET The daily turnover in the Indian Foreign exchange market is over US $400 million that is dominated by dealings in dollars. The foreign exchange reserve of $30 million provides the market with enough liquidity. 2.6 INDIAN EXCHANGE CONTROLS Exchange Controls refer to the regulation, restrictions, guidelines that a country issues with respect to foreign exchange transactions. In the absence of any exchange control one would expect to do anything with the foreign exchange reserves that the company has-convert to any other currency, speculate, buy or sell option, freely export foreign exchange etc. etc. In India, forward contract is the single largest product which the companies employ as a tool to manage their foreign exchange risks, though the cost has changed over the period of time. Before LERMS (liberalised exchange rate management system) importers rushed to book forward contracts expecting a devaluation of Re against US$. The cost was as high as 18% in Feb.92. The cost of the forward premium came down sharply reflecting a more stable foreign exchange markets. The Indian exchange market do not provide frequent quotations for ore than 6 months so for any long term forward cover rollover of the contract after every 6 months is needed. Rollover means cancellation of the old contract and re-booking of 6-month forward contract. Under this, care should be taken to cancel the old contract and re-book the next at the time when the cost of rebooking is least i.e. forward dollar is relatively cheap. Further, in December 1994, RBI has allowed the corporates to bet on the third currency movement even if one does not have an underlying transaction exposure in the â€Å"third currency†. This means that a corporate with an underlying exposure in Dollar-Re can bet on the Dm-Dollar rate and book a forward contract for Dm against Re and on the maturity may change Dm to Dollar at the spot rate. This has been allowed as Indian Re has been pegged with US$ and there has not been many fluctuations on which the companies could speculate. There can be other ways to take advantage of this RBI circular. Consider an importer with $ payable after 6 months. He may buy $ forward against Yen (third currency) and after 6 months may buy Yen against Rupee at the spot rate. This position may be taken if the company expects Yen to depreciate against the Dollar within these 6 months. Nevertheless the speculative attempts to earn profits may also backfire to give losses if the exchange rate moves in the opposite direction. RBI has also made it obligatory upon the banks, which extend the third currency cover, to maintain â€Å"initial† and â€Å"variation† margins before offering such a facility. This has been done to avoid any default risk. Another peculiar feature of ‘The Indian Exchange Control is that the â€Å"hedging† can be put through in case of transaction and translation exposures only. Economic exposures cannot be hedged. Cross Currency option was introduced on 1st Jan. 1994, under which companies could enter option contract for hedging non-dollar exposure against dollar. As for now Rupee option does not exist in India. Essar Gujarat has been one of the innovative corporates who discovered this new concept and has benefited considerably by writing option in Dm- Dollar in Jan 1994. Indian Exchange controls do not allow cancellation of cross currency options in parts and once the option is cancelled it cannot be re-booked, unlike forwards. In the overseas markets minimum lot traded is $ 3m whereas Indian corporate by for lesser amount, this increases the premium paid by them for the option. Recently, ANZ Grindlay has offered to arrange a loan of $ 50m to Ranbaxy by making effective use of call and put options to defend both the parties against unfavourable movements in exchange rates. Cross currency forward cover for importers who have taken $ loan for their imports but receive goods invoiced in say a Dm. They can enter forward cover for the delivery of Dm against the currency of loan i.e. -$. This is the cross currency forward cover. Some of the foreign Exchange controls are that export of foreign currency is not permitted, unless it has special RBI permission. â€Å"Exchange controls also they list the permitted currencyâ€Å" and a method of payment as approved by RBI for translation across the countries. It also contains guidelines relating to â€Å" Foreign currency assets† covering permission as for repatriation of capital profits dividends etc. Exchange controls also allow FC to be retained up 50% (in case of EOU EPZ units) and 25% (in case of ordinary exporters with banks in Indian and also abroad under EEFC a/c and FCA a/c. Exchange controls also state under-invoicing and over-invoicing of exports as a crime attracting penal provisions. Further, all sale proceeds in FC should come into the country within 180 days. RBI permission is required for any extension beyond 180 days. In case of failure to get RBIs nod, the tax and other export incentives are not provided to the exporters. Further, exchange controls give details and guidelines for different accounts for NRI and foreign investors such as Ordinary Non- Resident Rupee a/c, Non-Resident External; Rupee a/c FCNR (B) a/c etc. Introduction of complex hedging tools like futures, options is still a long way to go, Recently, the government lifted the ban on futures, option trading in equity (stocks) after 40 years, This could be regarded as a step ahead to come closer to introduction of more complex tools in the currency markets in India. In the near future Standard Chartered plans to introduce rupee-based derivatives in India subject to the clearance and approval by exchange controls, with many companies now making use of different tools effectively, the Indian foreign exchange markets are moving ahead towards more relaxations and towards making the foreign exchange markets more vibrant and versatile, IDBI is one of the most active user of financial derivatives in Indian market. It made considerable savings over the last two year by using the entire range of products available in Indian forex markets. 2.7 FINANCIAL DERIVATIVES USED IN INDIAN MARKET A derivative instrument is commonly defined as one whose price is derived from an underlying quantity that could be an interest or an exchange rate (in this case exchange rate) we refer to derivatives of money and foreign exchange market prices as â€Å"financial derivatives†. The history of using financial derivatives to hedge foreign exchange exposures by corporates in India is fairly recent. Early 90s witnessed few foreign currency call options written by some Indian corporates. The limited use and general lack of interest in the available instruments can be explained by the fact that dependence on external sources of funding was very limited and the external sector wasnt really developed. But after liberalisation and current account convertibility, the whole scenario has changed. Risk management has under gone a paradigm shift, new financial derivatives have been allowed in the market to provide for exposures arising out of increased business activity in the external sector. We shall discuss the various hedging tools is operative. 2.7.1 FORWARD CONTRACTS The Definition: A forward contract is simply an agreement to buy or sell foreign exchange at a stipulated rate at a specified time in the future. It is a contract calling for settlement beyond the spot date. The time frame can vary from a few days to many years. Instrument: A forward contract locks you to a particular exchange rate, thereby insulating the CFO from exchange rate fluctuations. In India, the forward contract has been the most popular instrument employed by corporates to cover their exposures, and thereby, offset a known future cash outflow. Forward contracts are usually available only for periods up to 12 months. Forward premiums are governed purely by demand and supply, which provide corporates with arbitrage opportunities. The premiums in this market are quoted till the last working day of the month. Internationally, the forward premiums or discounts reflect the prevailing interest rate differentials. Arbitrage opportunities are therefore limited. As a rule, a currency with a higher interest rate trades at a discount to a currency with a lower interest state. Since there is a forward market available for longer periods, the forward cover for foreign exchange exposures can stretch up to five years. The premiums or discounts are quoted on a month-to-month basis. That is, from the spot date to exactly one month, or two months, or even a year. AN EXAMPLE.A corporate has to make a payment of US $I million on March 31, 1998. They can book a forward contract today, and fix the exchange rate at which he will make the payment. Assuming that the dollar-rupee spot rate is Rs 36.40, and the forward premium on the dollar for delivery on March31. 1998, is Rs 0.30 the effective exchange rate for the remittance becomes Rs 36.70 (36,40+30). The Regulations: In March 1992, in order to provide operational freedom to corporates, the unrestricted booking and cancellation of forward contracts, for all genuine exposures, whether trade-related or not, was permitted. In January 1997, the RBI allowed the banks to quote rupee forward premiums for more than six months. This has resulted in the development of a local forward market for up to one year. However, as the link between the local money market and the foreign exchange markets is not strong, and as prices and determined by demand and supply, activity in the long -term forward market has been limited. 2.7.2 FORWARD TO FORWARD CONTRACTS The Definition: A forward -to-forward contract is a swap transaction that involves the simultaneous sale and purchase of one currency for another, where both transactions are forward contracts. It allows the company to take advantage of the forward premium without locking on to the spot rate. The Instrument: A forward-to-forward contract is a perfect tool for corporates that want to take advantage of the opposite movements in the spot and the forward markets. By locking in the forward premium at a high or low level now, CFOs can defer locking on to the spot rate to the future when they consider the spot rate to be moving in their favour. However, a forward-to forward contract can have serious cash-flow implications for a corporate. Before booking a forward-to forward contract a CFO should carefully examine his cash flow position bearing in mind the immediate loss that he would make if the spot rate did not move in his favour. The Example. An exporter believes that forward premiums are high, and will move down before the end of December 1997. Also he expects the spot rate to depreciate in the next few months. Then, the optimal strategy would be to lock in the high forward premium now, and defer the spot rate to a future date. So, he opts for a forward-to forward contract for end December. 1997, to end March of 1998. Paying a premium of say a Rs 0.64 By entering into such a contract the exporter has the opportunity to lock on to the spot rate any time till December 31, 1997. Alternatively, if the three-month premium between end-December and end-March moves below the Rs 0.64 level he can cancel the contract and book his profits. Forward -to-forward contracts The SCenario Company A is due to receive the payment for goods exported three months earlier. Currently, three-month forward premiums are high, but Company A expects the sport rate to depreciate further. The Instrument The forward-to-forward pay-off matrix DS>EF DS>EF Lack in the Current Premium By Purchasing A Forward-To-Forward Contact EF>SF Better Than Simple Forward, But Worse Than Uncovered Strategy Optimal Strategy Choose The Spot Rate Within A Stipulated Time-Period, Thus Determining Effective Forward Rate SF>EF Worst Strategy Better than Uncovered Strategy, At the end of the months, Convert Export Proceeds to Rupee at the Effective Forward Rate SF : Simple Forward Rate EF: Forward-to-Forwar

The Power of the Atomic Bomb in Shaping the Post-War World Essay

The Power of the Atomic Bomb in Shaping the Post-War World There were few men in Washington who understood the role the atomic bomb could play in ending World War II and shaping the peace. Military planning focused on two options, conventional bombing accompanied by a blockade or an invasion of the Japanese home islands. Both options were so problematic politically and militarily that policymakers who were familiar with the Manhattan Project found it difficult to oppose the bomb’s use. There were also few men who knew the role the bomb could play in winning the peace. President Harry S. Truman, Secretary of State James F. Byrnes, and Secretary of War Henry L. Stimson saw the bomb as a way to shape the post-war world in the American image, without reliance on regional allies to maintain peace throughout the world. Thus, the question in 1945 was not why should the bomb be used, but rather, why should it not be used? The conventional bombing and blockade option was the less attractive option for ending the war. The Joint Intelligence Staff could not provide an accurate estimate of the time required to force Japan to surrender unconditionally through blockade and bombardment alone. Estimates ranged from two months to two years. The lower estimates counted on a clarification of surrender terms to induce Japan to surrender. It also required area bombing of Japanese cities. Advocates of the plan also called for the acquisition of more favorable bases surrounding Japan in order to consolidate the blockade and intensify the bombing. Doing so would have required additional amphibious assaults on the China coast and Korea. If such operations were to be undertaken, Army critics asked, why not use the same amphibious resources to d... ...Washington: Office of the Chief of Military History, Department of the Army. Offner, Arnold A. "President Truman, the Potsdam Conference, and the Origins of Atomic Diplomacy." Presented at International Conference: "Fifty Years After: The Close of the Pacific War Re-Examined" Sponsored by International House of Japan Inc., Tokyo, Japan, August 23-26, 1995. Sherwin, Martin J. A World Destroyed: Hiroshima and the Origins of the Arms Race. New York: Vintage Books, 1987. Sigal, Leon V. Fighting to the Finish: The Politics of War Termination in the United States. Ithaca: Cornell University Press, 1988. Skates, John Ray. The Invasion of Japan: Alternative to the Bomb. Columbia,SC: Univesrity of South Carolina Press, 1994. Stoff, Michael B. (et al, eds.) The Manhattan Project: A Documentary Introduction to the Atomic Age. New York: McGraw-Hill, 1991.

The Theory and Testing of the Reconceptualization of General and Specif

The Theory and Testing of the Reconceptualization of General and Specific Deterrence   Ã‚  Ã‚  Ã‚  Ã‚  In the May 1993 issue of the Journal of Research in Crime and Delinquency, the introduction of the reconceptualized deterrence theory was presented, explaining that general and specific deterrence are both functions of crime. Mark C. Stafford, an Associate Professor of Sociology and Associate Rural Sociologist at Washington State University, and Mark Warr, an Associate Professor of Sociology at the University of Texas in Austin, introduced this theory. They argued that there is no reason to have multiple theories for general and specific deterrence. Rather, a single theory is possible that centers on indirect experience with legal punishment and punishment avoidance and direct experience with legal punishment and avoidance.1 General deterrence includes the knowledge of criminal acts performed by others and the consequences or absence of consequences from the activity. Specific deterrence relies upon personal experience of punishment and the avoidance of punishment for a criminal activity previously committed. Both Stafford and Warr theorized that people are exposed to both types of deterrents, with some people exposed to more of one type than the other. In addition both general and specific deterrence effects may coincide with each other and act as reinforcement.   Ã‚  Ã‚  Ã‚  Ã‚  In the May 1995 issue of the Journal of Research in Crime and Delinquency a preliminary test was conducted on Stafford and Warr’s deterrence theory. Raymond Paternoster and Alex Piquero, both professors in the Department of Criminology and Criminal Justice at the University of Maryland, attempted to elaborate on Stafford and Warr’s original findings. They, Paternoster and Piquero, argued that although they could find some support for the basic features of the deterrence theory, there was still a significant component that Paternoster and Piquero could not address. Without being able to measure the consequences of the illegal behavior of their respondents’ peers, they could not separate the effects of indirect punishment avoidance from indirect punishment.2 Furthermore, they claimed that the personal experience of punishment had a definite role in substance abuse, as well as leading to additional criminal activities because of formal sanctions.   &nbs... ...eory. Though further testing needs to establish if this theory is correct, it will provide a single theory for deterrence, eliminating the possibility of accidentally excluding essential issues, and provide more resources to those trying to distinguish between deterrence and defiance. 1 Mark Stafford and Mark Warr, â€Å"A Reconceptualization of General and Specific Deterrence,† Journal of Research in Crime and Delinquency 30 (1993): 133. 2 Raymond Paternoster and Alex Piquero, â€Å"Reconceptualizing Deterrence: An Empirical Test of Personal and Vicarious Experiences,† Journal of Research in Crime and Delinquency 32 (1995): 281. 3 Stafford and Warr 123. 4 R.F. Meier and W.T. Johnson, â€Å"Deterrence as a Social Control: The Legal and Extra Legal Production of Conformity,† American Sociological Review 42 (1977): 294-95. 5 Stafford and Warr 125. 6 Stafford and Warr 126. 7 Stafford and Warr 128. 8 Stafford and Warr 128. 9 Stafford and Warr 133. 10 Paternoster and Piquero 261. 11 Paternoster and Piquero 263. 12 Paternoster and Piquero 263. 13 Paternoster and Piquero 264. 14 Paternoster and Piquero 284. 15 Paternoster and Piquero 272. 16 Paternoster and Piquero 278. 17 Paternoster and Piquero 276.

Mini Project in Marketing Essay

EXECUTIVE SUMMARY: This includes the company profile and its products. This also consists the target market and the segment. The company has identified the need of the soft drinks especially for the children. So the company wants to introduce the new product into the market for children but the company does not wants to confine to the children so the drink will also be used by the all age groups. The product is manufactured under Prathik & Pavan Pvt Ltd shortly known as p&p ltd. which is under the group of â€Å"SUPREME BREWERIES†. The product names include the REFRESCO, Snapple, LITE and SMOOTHY. These products include aerated and non aerated drinks both for the children and also for the all groups. For these products the target market include the mainly children and also the all age groups. The income levels of the target market may not affect the buying and demand. Vision: Growth for leadership which states growth with quality and customer attention and profit. Vision statement shows the following Customer attention Profit motive with morals Leadership in the market Mission: provide opportunities for growth and enrichment to our stake holders. We strive for integrity and honesty. Achieving best distribution by which product can reach to the consumers as early as possible. Goals: The primary objective of the company is to serve the needs and wants of the consumers. To improve and enhance the satisfaction levels of the consumers. To supply and provide the company’s product in every corner of the target market. Objectives: The primary objective of the company is to have a leadership position in the market. To make the product as generic so that the consumers will demand the product for every visit to the retailer by next 3 years. To achieve the 500000 units to sell per annum by next 4 years. Increasing the business to all over the markets in south India by next ten years. CORE PRODUCT: The core product in our product is the drink which we are offering. ACTUAL PRODUCT: The actual product is in the soft drink is the bottle size and the shape of the bottle. Actual product constitutes the no caffeine which causes the health related problems. Actual product will consist of the various variants and flavors’ which include aerated and non aerated drinks. AGUMENTED PRODUCT: The augmented product is the packaging and the distribution net work. And consumer can consume half the drink and he can store the remaining drink and can consume at later stages with taste remain same as at the time of sealed pack. Augmented product of the soft drink also consists of the other offers which include the tours and trips. This also includes the lunch and dinner with the brand ambassadors of the company. TARGET MARKET: The target market for soft drink is the children and the age group existing above 8 years also but the main target remains children. The children who having the age above 8 years they can consume. We are focusing only on Hyderabad market and the product can affordable by the middle class and lower middle class. Position statement: The company wants to serve the consumers with best quality drinks which will not have any impacts on the consumers. â€Å"Serve the quality, be the best.† This statement ensures the customers that the company serves the best quality of the products. This photo shows that the product ensures the coolness. MARKET ANALYSIS: As the company mainly targets the Hyderabad market. And targeting the mass market here the company targets all the segment children’s and their parents. Our main target is children’s but we are also targeting their parents because they are the initiators in the case of children’s the parents are the decision makers so we are targeting them. The children’s constitute our overall market. As there is no soft drink specially catering to the children this helps the company to sustain in the market with the substantial market share in the local players. This USP helps to attract the consumers towards the soft drink. Factors affecting the Consumer behavior in buying: There are various factors that involve in the buying of the soft drinks which include Cultural factors: With the increase of the literacy and awareness in the present days there are no cultural factors. However there are some situations where there are behavior pattern changes due to some cultural factors like festivals Social factors: These factors involve consumer’s family, small groups and status. The number of children decides the buying of the product. For example if the children are more than the elders in the family then the decision lies in concerns with the children. The buying of the soft drink cans depends on the status and there lifestyle. DEMOGRAPHIC: The soft drink is mainly targeting towards the children’s Age: Children (Above the 8 years) Young Adults (18-24 years) Age group of 25 and above GENDER: Both male and female GEOGRAPHIC: Hyderabad market PSYCHOGRAPHIC: The life style of the parents and their purchasing behavior. The life style of the parents plays a major role since the purchasing decision ultimately lies with them. BEHAVIORAL SEGMANTATION: In behavioral segmentation the company mainly focused on the parents who are all the health conscious of their children. The company focuses on the children who are attractive towards the soft drinks and the consumers. MARKET SIZE: Currently the population of the Hyderabad is 6,809,970. Since the soft drink is the product for all the consumers irrespective of income, age and sex. The market size is huge with respective of population. Here in the case of soft drink we can’t say exact potential customers because this is a generic product and it can be affordable by everyone irrespective of income levels and age and sex. Unmet needs by the competitors: No company had the drink that caters specially to the children and also the mass consumers as well. The company wants to the address this issue which can satisfy the children in a healthy way. The company’s product is also targeted to the mass consumers. The product which mainly concentrates on the children soft drink will consumers to think about the product. This makes product as brand and and places the product position in a satisfactory rank. PESTL ANALYSIS: P-POLITICAL ANALYSIS: In Hyderabad the political effect will be on the business. The allocation of the funds from the government and the taxation on the business will affect the business. The change in the political party will have the change in the policies, and the regulations. The change in policies like restrictions in the product ingredients. The political issues will affect the distribution of the product, manufacturing the product and other issues related to the local and regional parties. E- ECONOMIC ANALYSIS: The GDP of the country plays a major role on particular business with in the country. The recession will affect the business like people lost their jobs and the purchasing comes down. S-SOCIO CULTURAL ANALAYSIS: Now-a-days the lifestyle and attitudes are changing. The people are becoming more health conscious about their children’s health. Because the other soft drink payers are making the product with the ingredients that will affect the children’s health. T-TECHNICAL ANALYSIS: Now a day the people are more aware about the technology. The company is having high end machinery to produce the products. And the company having the technology which is recycles the used bottles. And the company uses the technology in the promotions. L-LEGAL ANALYSIS: The company has to follow the guidelines of the government. The plant has to set up in outside the city the plant has to be not creating any problem to that area. While determining the working hours and wages the company has to follow the government rules. IDENTIFYING THE WANTS AND NEEDS YOUR PRODUCT SERVES: The company is launching a soft drink especially for children’s and also serves the need of the other age groups irrespective of the income and sex. The company is offering this product at a affordable price and it also offering three different flavors. And the product is available to everyone within the city. The company is tie up with the restaurants and bakeries and malls to sell the product. The company is maintaining the quality in the product and along with that price. The soft drink it quenches the thrust of the children it doesn’t crest any other side effects like obesity etc. our product contains less amount of caffeine when compare to other soft drink manufacturers. The caffeine is not harmful for adults but it creates the side effects for childrens. COMPETETOR ASSESSMENT: The company is competing in the food and beverages industry. Soft drinks come under oligopoly market where the market has only limited companies. The industry in India is being estimated to grow at 15% – 17% this year, according to experts. â€Å"Food and beverages segment has not suffered despite the slowdown in the economy. Initially the growth rate is very low in food and beverages because the awareness about the soft drinks is less and the distribution net work is not well. And the prices are high at initially and later the prices are decreased. Growth rate: The soft drink industry is expected to post a 14% growth in value terms in ’03, partly because of increased consumption due to price cuts by soft drink companies at an average of 15% across all brands. The price decrease is mainly because of the competition and also to increase the competition. The price cuts are aimed at increasing the consumer base for soft drinks. Market share of different players in soft drink segment: PORTERS FIVE FORCE MODEL: Threats of new entry Substitutes Revelry between the firms Bargaining power of suppliers Bargaining power of customers 5 FORCE MODEL of the company includes Treats of new entry: The treat on new entrants is low in the market since the initial investment or capital that is required for the entrants is high. The profits and profit margins in the soft drinks market is high. The business is very profitable. Hence the big players or other companies may enter into the market. Substitutes: Present market has very high treat of the substitutes as a business. This is because of the people perception that the drinks may cause the health issues. With the introduction of this new product may address this types of the issues and can sustain in the market. Bargaining power of suppliers: Since the firm is entering into the market with new brand and product there will be a less power with the company to talk with the suppliers for the credit and supplies. Hence the bargaining power of the supplier will be very high where the firm has less power with it. Bargaining power of buyers: Initially when the company launches its product into the market there will be less with the company. The customers who include individual customers, wholesalers, retailers etc will expect the discounts and can bargain for the low price. Treat of rivalry: Presently market consists of very high rivalry even though there are limited players. There is a every chance of attacks from very large and even local players. DIRECT AND INDIRECT COMPETITORS: The competitors of the company are divided into direct, indirect and also the substitutes which can eat the company’s profit one or other way. The direct competitors of the company’s products. Below are the aerated drinks COKE PEPSI THUMBS UP The direct competitors of the non-aerated competitors are MAAZA FROOTI SLICE The indirect competitors of the company are SODA HUBS JUICES OTHER DRINKS The substitutes of the company’s product are COCONUT WATER BUTTER MILK Competitive advantages: Even the company enters into the market where there are big players it has its own competitive advantages. The company having its presence in only HYDERABAD it can look and concentrate on its local markets. The company can have a direct relation with the retailers and wholesalers. Company can directly interact with the local consumers .It is easy to the company to address the issues regarding the product and its distribution. Since the consumers are confined to the local area of HYDERABAD it is easy for the company to forecast the demand and can supply accordingly. When it comes to distribution it will be easy for the company to have easy access since it is local which is known. Competitive disadvantages: The company could struggle in raising the capital for investment and maintaining reserves. The consumer’s acceptance may not be satisfactory since there are big players in the market. The capital that is available with the company is less and the no experience can be some restrictions to the company to operate and do business. There can be threat of attacks from the other competitors which can be direct and indirect. MARKETING STRATEGY The company marketing objective is to be the leader in terms of sales and in terms of revenue and market share. Attracting the customer by maintaining the quality and the price. The company uses the marketing strategy to differentiate the product from its competitors. That will help to the company to gain competitive advantage. Market strategy involves the following: Market scope: As the company focuses the many segments like aerated and nonaerated drinks therefore it is the multimarket segment. Geographic market strategy: Initially the firm focuses mainly in the HYDERABAD market which is considered as the local markets. Marketing entry strategy: The segment is in the stage of maturity. Therefore entry into the market is considered as the INITIATOR since there is no soft drink which is focused specially on the children and can be catered to the all age groups. To survive in the market the company needs to follow certain marketing strategies. PROMOTION: The promotion for the product will be happen with the set of advertisings which include the cartoons to attract the children and an the film stars to grab the attention of the adults and also the set of add which consists of previous generation actors who can take attention of the elders. The soft drink is mainly targeting the children’s so the company creating a add campaign which includes mainly canton. This attracts the children towards the product. As the product is also for the adults and the elders, the advertising will concern with the film stars and other set of attractive ads. The ads will be aired in the all local channels who has a substantial TRP ratings. There will also be set of ads which will be played in the local radio channels and FM stations. There will also be a certain campaigns and designs which will be selective towards the magazines and news papers which can attract the consumers. There will also be hoardings and wall hangings representing the company’s product. There will also be pamphlet campaigns. Company also can go for road shows and shows in malls and multi-plexes which brings the more awareness of the product to the customers. Trade schemes which are benefits to traders and consumers schemes like discounts, offers etc, which benefits to individual consumers. Company can also use these as the promotion schemes which encourage the customers to buy. ELOBRATION OF 4P’S: The 4P’s are 1) Product 2) Price 3) Place 4) Promotion PRODUCT: The product is soft drink. It quenches the thrust of the children’s and it doesn’t creating any side effect to the children’s. And it gives the energy to the children’s. The product is also to the all age groups but the main focus is on the children. The product name is refrsco and the product is manufactured P&P PVT LTD and marketed by the SUPREME BEVERAGES. CORE PRODUCT: soft drink. ACTUAL PRODUCT: bottle size and shape and design. AGUMENTED PRODUCT: monetary and non monetary benefits that a consumer along with the product. PRICE: The price of the product will be determine by based on the fixed cost and the variable cost like manufacturing cost and the transportation cost all costs will be consider while determining the price. The pricing will be done based on the competitor’s price. The prices will vary based on the quantity of the drink. PLACE: The company having a good distribution network and the product will be available in all the places of Hyderabad. The company having both indirect distribution and incentive distribution net work. In direct distribution the company doesn’t sell the product to customer. And in incentive distribution the company having its own outlets which are small in size and those are placed in near to the parks and play grounds and schools. The company tries pushing the product to the distributor or supplier by giving the trade schemes. And the company tries pulling the product by the customers by providing the consumer schemes. The company having collaboration with restaurants and cinema halls and retail stores and shopping malls to make availability of the product. And the company also putting the vending machines in railway stations and in fuel filling stations. PROMOTION: The company following the different type of promotional activities. Making the ads with cartoons and in a different way to understand the children’s easily. The company mainly promoting the product through the television and through printed media likes pamphlets and news paper and hoardings and lollipops etc. The company creating the awareness programs about the product. And company having a tie up with A.P.S.R.T.C to promote the product. Now – a days all the city busses having TV’s in the busses so the promotion through these buses will create unique difference from the competitors. In Hyderabad Most of the people will travel in city busses this will help the company to gain the market share. The company promoting the products through websites also and through tele calling and through the trade fairs and through direct marketing. For the suppliers the company promoting the product by giving the discounts and creating other offers like foreign trip like etc. For the consumer the company promoting the product by giving discount on the product or giving some percentage of soft drink extra with the same price. And another offer like meeting our brand ambassador and giving movie tickets etc. Budget and forecast Sales forecast: Initially there is a need to adopt the push strategy where the product is pushed by the traders to the consumers to buy. This can be done only when there is only the awareness about the product. Initially when the product is launched into the market the sales that is estimated is nearly 60000 to 75000 units as per the local sales of other businesses. The company expects to be the growth of the nearly 12% to 18% for the first 3 months of its presence with the intense and dedicated advertising and promotion. Therefore the sales would be 75000 to 90000 units. After the great campaigns and attractive products of the company the sales may increase up to the 30% which is nearly 100000 to 120000 units. The company forecast its sales as nearly 1200000 units per annum where the company also expects to grow with the rate of 17-20% which can bring the sales up to 135000 units per annum on an average. Profit and margin estimation: The firm expects the limited or low profit margin initially since there will be trade and consumer schemes which will reduce the company’s profit. The company expects to get the substantial profits from 6 th or 7th months of the first year when the product is being launched. The company estimates to have a profit margin of 20-25% of profit margin on each unit irrespective of bottle size which is low when compared to other players in the market. The above profit margin will be confined to the first 4 or 5 months of launch of product. When the company grows for the 5 months the profit margins will also increases with the increase in the demand. Then the company expects to have a profit margin of the 35-40% on each bottle. Strategies for following: Advertising: Advertising includes campaigns and television ads and radio promotions. These are the major expense in advertising the company’s products and create the awareness. This would incur the cost of nearly 50 to 55 lakhs per annum. And another 5lakhs per annum will be required for the company for other programs which include shows in malls, road shows and other promotions. The hoardings and lollipops will incur the 10-12 lakhs p.a Therefore the company would like to invest nearly 25lakhs for advertising. Direct marketing: Direct marketing involves communication about the product to the customers directly through emails, mobiles online display ads, catalogue distribution, promotional letters, and outdoor advertising. The above activities will also incur certain amount of the investment which will be nearly 2 lakhs. Internet marketing: Internet marketing is the powerful tool to promote the brand in the market with less cost and investment. This involves the creation of the website and links which can provide the information about the product and the company. This would involve 5 lakhs per annum. Consumer promotion: The consumer is attracted to the product only when there are offers on the product when it is launched. This involves giving the free samples, discount offers and other benefits. This also involves the cost of nearly 8 lakhs where the company may not get it immediately. Trade promotions: The trade promotion involves giving benefits to the traders who promote and sell the company’s products. Giving benefits to the traders helps the company more .The company expects to incur 12 lacks. Public relation: This includes maintaining relation with the customers as well as with the society. This involves the healthy practices in the business. IMPLEMENTATION AND CONTROL PLAN The company is following the line structure sales force structure because in this the employee doesn’t get orders from other departments they get the orders from their sub ordinates only. This is helpful to the company in terms of reducing the attrition rate. With this structure the employees will satisfy The company is in Hyderabad it has four zone each zone requires four sales executive and one sales manager. The sales executives will go to the market and interact with the shops persons and with the distributors. And the sales manager monitors the sales and maintains the relationship with the distributors and retailers. Based on this the company requires 4 persons for zone sales manager and 16 persons for sales executives and one senior manager for all these zones he will be the head. The executive will report to the zonal manager and the zonal manager will report to the senior sales manager. The company requires the six persons for customer service and for indirect marketing. The HR department is in the company which helps the sales teams by giving training how to interact with the customer how to solve the objections raised by the customer. The HR department always gives the training to sales people and upgrade s them to the current scenario. And the indirect marketing team will support the sales team by giving the leads.

Struggles Overcome Essay

Dan is forty-two years old, but feels as if he has aged thirty years in the past three months. He is always so tired that he must take several naps just to get through the day, and he knows that something must be wrong. Finally, Dan’s doctor says Dan is nearing stage 5 kidney disease and Dan needs to start thinking about a transplant or dialysis treatment options soon. This leaves thousands of people with kidney disease to wonder what lies ahead. Thankfully, two local organizations strive each day to better the lives of dialysis recipients. The Patient Ambassadors Organization is a non-profit organization dedicated to improving dialysis patients’ quality of life by developing awareness of dialysis issues. The Onalaska Dialysis Clinic offers patients a wide variety of compassionate treatment options to meet their dialysis needs. Both the Patient Ambassadors Organization and the Onalaska Dialysis Clinic make a substantial difference in the lives of those in need. The Patient Ambassador Organization is a heartwarming organization that helps thousands of dialysis patients worldwide. The Patient Ambassador Organization (PAO) provides dialysis patients with the education to be their own advocates. Having the right information on how to treat, and live with kidney failure is crucial for survival. The PAO provides videos and publishes free books on coping with dialysis. This education allows dialysis patients to gain control of their lives once again. Along with educating the dialysis patients, the staff at the PAO also helps patients become eligible for a transplant. Many patients are unaware of the very important steps to go through when it comes to receiving a kidney. The PAO helps patients gain access to meet face to face with a transplant coordinator. Not everyone will receive kidney transplant, but many lives are saved each day from organ donation. Clearly, the PAO has helped patients to face kidney failure with gainful education and the confidence to overcome kidney failure. Along with the PAO, the Onalaska Dialysis Clinic provides resources for individuals battling kidney failure. The clinic offers compassionate care and transportation options. Being able to rely on a trustworthy team is very significant to someone who may be facing a life or death situation. With that concept in mind, the Onalaska Dialysis Clinic always has a staff member available to make patients feel at ease. Whether it’s getting an extra blanket and pillow or just telling a joke to lighten the mood, the  staff is always helping patients get through the day. Transportation is also provided for those who are not able to get to and from the clinic. Free bus tickets are funded by the Onalaska Dialysis Clinic, and are given to patients all year round. The Onalaska Dialysis Clinic is my place of employment, and I am very touched each and every day whe n I enter my role as a Dialysis technician. The unquestionable compassion that the Onalaska Dialysis Clinic offers to all patients is remarkable. Along with showing compassion on a day to day basis, the Onalaska Dialysis Clinic offers specific holiday programs to help patients to feel more at ease and welcomed. The Onalaska Dialysis Clinic offers its patients a holiday card along with cookies and apple cider. A gentleman once told me that he looks forward to this all year, and it’s the only holiday celebrating that he gets to do. No matter what time of year, the Onalaska Dialysis Clinic is always lending a helping hand. Unfortunately, kidney failure will affect the lives of millions of patients each year. Thanks to the kindness and support of the PAO and the Onalaska Dialysis Clinic, patients have the ability to overcome any obstacle. The compassion is very touching, and gives me faith in humanity. Therefore, staff members of PAO and the Onalaska Dialysis Clinic have touched many lives of dialysis patients worldwide. Th e impact that the PAO and the Onalaska Dialysis Clinic have made will be acknowledged eternally.