Advertisements are a Waste of Resources

In a competitive economy, companies seek to persuade consumers to buy their products or to avail their services. It is impractical to think that companies should only stock their warehouses and wait for consumers to come knocking on their doors. If this is what businesses did, there would be an economic waste in terms of products being produced but not being bought.The critics of advertising attack the form of competition it provokes by saying it results in duplication and waste. It is equivalent to an arms race in the sense that a certain pattern might exist within an industry or sector concerning the extent of advertising. So if one competitor increases the extent to which it advertisers, others feel it is necessary that they do the same or at the very least engage in some form of advertising in order to maintain its market share or face the prospect of losing it.The advertisement rates during the Indian Premier League (IPL) season 6 might be an example to some advocates who believ e advertising is a waste of resources. In this case, the resource alluded to is money. A ten-second advertisement spot cost between Rs 4-4.5 lakhs, while the associate sponsors of the event PepsiCo and Vodafone shelled something between Rs 40-60 crores each.These are nothing short of extortionate rates but companies must be having evidence to show that such rates are justified. It should however make marketers ask themselves an important question. Should they spend money on making a brand promise through advertising, or should they focus on keeping their brand promise by means of delivering what consumers want. However, although competition in advertising involves such waste, it is also a driver of innovation and setting new benchmarks. Competition is vital as it far outweighs its negatives with its positives and is a necessary requisite of a successful economy.There are some companies that literally manage to survive by spending almost nothing on advertising. Zara uses this strateg y and does it by employing a strong in-store experience and keeping their shelves stocked with the latest fashion through quick production methods. One might say Zara is more focused on keeping their brand promise. Marketers would agree that advertisements should not be made simply to create a buzz, but to help in the generation of sales.An important point to consider is the brand life cycle, as the role played by advertising depends on it. A new brand may find advertising a very important function so as to target potential consumers. At this stage, brand recognition is critical and advertising is the only way to build it when there are new products or services to offer. A mature brand on the other hand might want to further its reach through advertising or may even be trying to bounce back from a recent decline in sales.But is advertising a waste of resources? To answer this question, it must be kept in mind that advertising doesn’t exist in a vacuum.It has to be considered as one of the alternatives available in the marketing of products and services.The decision doesn’t lie at the extreme end of whether to advertise or do nothing, but is rather to either engage in advertising or in some other form of sales effort. It is one part of the marketing effort which includes packaging, servicing, direct selling, pricing and is generally undertaken when it can justify being the most effective and economical method to appeal to customers.It is a vital function if you consider its reach and ability to communicate with all potential customers and is therefore used widely by many companies. If a company decides to substitute advertising with another method that might prove to be less efficient, it would result in economic waste. The use of resources for advertising to differentiate products from competitors would not always mean that its use has been diverted. On the other hand and quite frequently, it denotes the use of resources that would otherwise be i dle and thus avoids the waste that comes with such idleness.

3d Printers

Rapid prototyping 3D printers 3D printing  is a form of  additive manufacturing  technology where a  three dimensional  object is created by laying down successive layers of material. 3D printers are generally faster, more affordable and easier to use than other additive manufacturing technologies. 3D printers offer product developers the ability to print parts and assemblies made of several materials with different mechanical and physical properties in a single build process. Advanced 3D printing technologies yield models that closely emulate the look, feel and functionality of product prototypes.A 3D printer works by taking a 3D computer file and using and making a series of cross-sectional slices. Each slice is then printed one on top of the other to create the 3D object. The cost of 3D printers has declined. The technology also finds use in the jewellery, footwear,  industrial design, architecture, engineering and construction (AEC), automotive, aerospace, dental and medical industries. A large number of competing technologies are available to do 3D printing. Their main differences are found in the way layers are built to create parts.Some methods use melting or softening material to produce the layers (SLS, FDM) where others lay liquid materials that are cured with different technologies. In the case of lamination systems, thin layers are cut to shape and joined together. Selective laser sintering  (SLS) Selective laser sintering  (SLS) is an additive manufacturing technique that uses a high power  laser  (for example, a  carbon dioxide laser) to fuse small particles of  plastic,  metal  (Direct Metal Laser Sintering),  ceramic, or  glass  powders into a mass that has a desired 3-dimensional shape.The laser selectively fuses powdered material by scanning cross-sections generated from a 3-D digital description of the part (for example from a  CAD  file or scan data) on the surface of a powder bed. After each cross-secti on is scanned, the powder bed is lowered by one layer thickness, a new layer of material is applied on top, and the process is repeated until the part is completed. Compared to other methods of additive manufacturing, SLS can produce parts from a relatively wide range of commercially available powder materials.These include  polymers  such as  nylon, (neat, glass-filled or with other fillers) or  polystyrene, metals including  steel,  titanium, alloy mixtures, and composites and  green sand. The physical process can be full  melting, partial melting, or liquid-phase  sintering. And, depending on the material, up to 100% density can be achieved with material properties comparable to those from conventional manufacturing methods. In many cases large numbers of parts can be packed within the powder bed, allowing very high productivity. SLS is performed by machines called SLS systems.SLS technology is in wide use around the world due to its ability to easily make very complex geometries directly from digital  CAD  data. While it began as a way to build  prototype  parts early in the design cycle, it is increasingly being used in  limited-run manufacturing  to produce end-use parts. One less expected and rapidly growing application of SLS is its use in art. [pic] The picture above is made using SLS and is a very intricate design which would be very difficult to imagine if it was only drawn on paper. Digital Light Processing (DLP)In  DLP, or Digital Light Processing, a vat of liquid polymer is exposed to light from a DLP projector under  safelight  conditions. The exposed liquid polymer hardens. The build plate then moves down in small increments and the liquid polymer is again exposed to light. The process repeats until the model is built. The liquid polymer is then drained from the vat, leaving the solid model. The  ZBuilder Ultrais an example of a DLP rapid prototyping system Laminated object manufacturing (LOM) Laminated obj ect manufacturing  (LOM) is a  rapid prototyping  system developed by Helisys Inc. Cubic Technologies is now the successor organization of Helisys) In it, layers of adhesive-coated  paper,  plastic, or  metal  laminates are successively glued together and cut to shape with a knife or  laser cutter. The process is performed as follows: 1. Sheet is adhered to a substrate with a heated roller. 2. Laser traces desired dimensions of prototype. 3. Laser cross hatches non-part area to facilitate waste removal. 4. Platform with completed layer moves down out of the way. 5. Fresh sheet of material is rolled into position. 6. Platform moves up into position to receive next layer. 7. The process is repeated.Note: †¢ Low cost due to readily availability of raw material †¢ Paper moulds have wood like characteristics, and may be worked and finished accordingly †¢ Dimensional accuracy is slightly less than that of  Stereolithography  and  Selective laser sinter ing  but no milling step is necessary. †¢ Relatively large parts may be made, because no chemical reaction is necessary. [pic] The above picture shows how intricate objects con be made by LOM. Fused deposition modelling  (FDM) Fused deposition modelling  (FDM) is an additive manufacturing technology commonly used for modelling, prototyping, and production applications.FDM works on an â€Å"additive† principle by laying down material in layers. A plastic filament or metal wire is unwound from a coil and supplies material to an  extrusion  nozzle which can turn on and off the flow. The nozzle is heated to melt the material and can be moved in both horizontal and vertical directions by a numerically controlled mechanism, directly controlled by acomputer-aided manufacturing  (CAM) software package. The model or part is produced by extruding small beads of thermoplastic material to form layers as the material hardens immediately after extrusion from the nozzle.Sev eral materials are available with different trade-offs between strength and temperature properties. As well as  acrylonitrile butadiene styrene  (ABS) polymer,  polycarbonates,  polycaprolactone,  polyphenylsulfones  and waxes, a â€Å"water-soluble† material can be used for making temporary supports while manufacturing is in progress, this soluble support material is quickly dissolved with specialized mechanical agitation equipment utilizing a precisely heated  sodium hydroxide  solution. [pic] In the picture above the support material is easy recognised and can be broken away easily.

Job Description Essay Example | Topics and Well Written Essays - 500 words

Job Description - Essay Example Other responsibilities included input of system parameters, inventory analysis, Purchase Requisition, shortage status and follow-up of Pending Purchase Orders, required to make independent decisions on system and schedule requirements based on job knowledge. He/she should also be in-charge of managing program planning and material requirements, material Status planning and material support budgets, maintain current and accurate status of material procurements. Providing interface and coordination between all End Users, and recommend and implement stock reduction proposal and through forecast and estimates is also under his/her scope. Also, must be able to recommend logistics requirements to Procurement Department, program material budgeting, forecast, allocation, execution and reporting, execute planning and material availability and calculates Work Center Loads and Capacity Requirements. 6. Constantly reviews and analyses materials inventory policies and makes recommendations for changes. Identifies opportunities for inventory cost reductions. Maintains overall inventory support for the Company's operations at all times. 7. Co-ordinates periodic reviews of SAP based inventory system to reconcile stock records with actual stock. Investigates discrepancies, prepares reports with recommendations for corrective action where necessary. 8.

Should all states require motorcyclists and passengers to wear helmets Assignment

Should all states require motorcyclists and passengers to wear helmets - Assignment Example More important is the cost which a society has to bear when a biker meets an accident (American Academy of Orthopaedic Surgeons, 2010). Head injuries are a severe outcome of riding bike without a helmet. Some people have stay in hospitals for a long duration with increased rehabilitation cost. Insurance companies do not afford all the cost and it is the public that ultimately pays for head and other injuries. Society should assess the claim of violation on freedom versus funding. After these analyses, it is important to wear helmet whenever people of any age are driving a motorcycle of riding a bike for their own health and safety. Federal government should take interest to keenly monitor the rising accidents and implement helmet laws where it does not exist (American Academy of Orthopaedic Surgeons). The major problem in America is variations in helmet laws in different states. For example, 20 states in US and district Columbia have very elaborate helmet laws for all riders and pass engers. There are further 27 states where the helmet law is imposed on some categories of the riders. Different age groups come under this law and some are out of it. Three states do not have any helmet law for people. There is a dire need for legislatures to take responsibility and introduce helmet law in the states where it is urgently required ("Helmet laws state," 2003) According to analysis there are about 80 million bike users in US. Bicycles are being used for fun, sports, health and transportation in different states. Popularity of bicycles has increased their usage and ultimately death rate and head injuries have also risen. According to data approximately 716 bike riders died on the roads in different states and about 91% out of... The paper represents the solution and advantages of a massive problem with motorcycle deaths in the United States, which has several important consequences; it costs lives, which tears apart families and is obviously tragic, it puts a drain on already strained medical institutions, and it costs tax payers, private citizens and health insurance companies massive amounts of money each year. Though, like any problem, there is no solution that will entirely solve this issue: motorcycling, and driving generally, is inherently dangerous and nothing can be done that will prevent that. But there are methods of risk mitigation, and harm reduction, that, if used consistently by motorcyclists and their passengers will help prevent deaths and injuries. So there are two parts to this solution: what actions need to be taken by motorcyclists, and what can be done to encourage them to take those actions? As mentioned in Part I, it is clear that helmet usage can go a significant way in reducing injur ies. It might also be important for motorcyclists to wear other protective gear, such as spine supports, Kevlar gloves and so on – the exact level of protection that should be warn is hard to pin down: more, however, is obviously always better. The aspect of how to get people to behave differently, two methods used in conjunction might work best: laws requiring motorcyclists to wear helmets, and public awareness to encourage them to follow these laws for their own safety.

International HRM Essay Example | Topics and Well Written Essays - 3000 words - 3

International HRM - Essay Example ation, changed organisational structure and employee satisfaction’s issues, consumer behaviour shift, changed societal mind set, employee related government laws, changing norms, fluctuating market trends and variable economic conditions. Analysis of expatriation related practices by HRM department of UNILEVER.LTD is included along with the measures that have been taken to confront them. Recommendations with respect to changing techniques and methodologies have also been made. Human resource management is of great importance for any organisation. Effective HRM helps the organisation to efficiently utilise its work force in order to meet its strategic targets and goals. This exercise comprises of procedures, methodologies, constraints and benefits. At the urge of 21st century, the world has taken the shape of a global village due to advance communication and information technology. Increasing population with limiting resources has made it hard for people to survive. Descending employment and increasing inflation in many countries, especially the third world countries have driven their skilled labour & professional workforce to expatriate for the economic benefit. With the emergence of globalisation, business environment has also globalised. International trade flows, formation of global economic forums, changes in organisational structure and expansion of companies into MNCs have resulted in availability of labour market and staffing requirements which has increased opportunities for skilled work force and business professionals (Edward & Rees, 2006). This cross border demand-driven employment opportunities is resulting in paradigm shift of many countries, like Hong Kong and Singapore, towards service oriented economies. On one hand, expatriation and immigration has brought in many benefits for business and corporate community like economic opportunities, exploration of new markets worldwide and development of multi-cultural work force but on the other hand, it

Shoes leather business industry in South Korea Term Paper

Shoes leather business industry in South Korea - Term Paper Example Subsequently, it has also been learnt that government laws regarding the operations of the leather industry are also quite strict wherein rigid laws are imposed to control the production of leather products in an integrated and ethical manner. These aspects have certainly affected the overall industry operations of the leather producing sector to a large extent (PETA, 2013; UNIDO, n.d.). Focusing on this particular issue, this paper intends to analyze in detail the overall challenges faced by the tanning or leather industry of South Korea. The paper further emphasizes upon the issues that are being related with the leather industry of the world with special regard to South Korea taking the example of HAESUNG AIDA Co. Ltd. A Brief Overview of the Company HAESUNG AIDA Co. Ltd. is one of the largest and the most well known companies of South Korea. The company mainly focuses on manufacturing quality leather products. It has been observed that the company is considered as a world class t annery manufacturer, the quality of which is considered excellent by the branded companies playing in the global market. It is known that the company has acquired the reputation of a leading leather company of Korea. Undoubtedly, this acknowledgement has been gained through immense hard work and honesty in manufacturing its products for the people all over the world. It always intends to produce products that would be able to satisfy the current needs of the customers to the utmost level. It has been observed that through continuous development of technology and innovative production techniques, the company has managed to establish large size production units which are further operated through organized processes in Korea. This enables it to carry out bulk production and obtain a... The leather industry is one of the most rapidly developing industries of the world. It has been observed that the industry plays a major role in economic performance of the countries. It has been observed that effective performance of companies in this industry will be related with the several aspects or rather obstructions such as environmental factors related with the operations of the company, government regulations for this kind of industries and some other vital barriers. It can be further observed that the company has taken various steps in order to alleviate all the associated concerns of the leather industry. In this regard, the company provided training to its employees, arranged programs for customers and suppliers for environmental awareness and incorporated a lot of advanced technologies in the working process in order to enhance its environmental performance. The company also comes up with new strategies in order to operate efficiently in spite of the economic downturn. However, despite these steps the company has experienced certain financial breakdowns owing to the various problems associated with the leather industry. The financial position or performance of the company is effected by the cost it spends in enhancing its environmental performance, expenditure and losses of the company owing to the stern governmental regulations and the maintenance of its employees regardless of its negative performance due to recession.

Targets operation in Canada Essay Example | Topics and Well Written Essays - 750 words

Targets operation in Canada - Essay Example The retail store failed miserably in its market strategies such as pricing. This stands out as a major influence on customers. From the start, Canadian shoppers felt that the prices maintained by Target were too high while compared to other stores. It created a perception that it was the most expensive among its competitors. Targets management was not observant and reactive about pricing. They failed to see the power of low pricing in Wal-Mart Canada. Additionally, Target did not compensate for its higher pricing with better services. The customers’ experience at Target stores was not good and prices made it worse. It has been shown that some customers are willing to forego a slight increase in price provided the experience they receive is a stand-out feature from the rest of the competition. Other competitors had the edge in pricing as well as customer service. Only 18% of the respondents questioned by Forum Research said that they were very satisfied with Target. This percen tage was the lowest level of satisfaction among all the other competitors. This shows that   Target’s management did not prioritize customer satisfaction.The supply chain management also attributed to the failure of the business in Canada. Customers were not pleased by empty shelves in stores. However, stocks were piling up in Target’s warehouses at a faster rate they were being sold. There were delays that caused the goods from hitting the shelves on time. Target’s supply chain was marred by inconsistencies between the actual inventory level and the computer records. There were delays caused by verification of the inventory. The shipments needed to be verified manually. This is a time-consuming process that increased work for the store workers while also leaving the shelves empty.

Qualities of an Effective Principal Essay Example | Topics and Well Written Essays - 500 words

Qualities of an Effective Principal - Essay Example One thing about a principal is that he can not be a specialist in every subject, but he should provide the students with a broader curriculum which will enhance their knowledge. The supervision of teachers is also an important part of the job. The principal should be able to motivate the teachers to do their best, provide them with opportunities to grow in the fields and initiate workshops for them. The environment created by the principal’s presence should foster learning for all people who are part of that institution. This learning should be productive and can also be made exciting for all parties, new techniques and practical application of the knowledge will interest the students more. The principal should include himself in the daily activities of the school, by observing the children inside and outside the classroom. The principal’s attitude should be approachable so that students can easily come to him with their problems. The students should not feel awkward and be at ease around the principal. If possible and on going training program should be part of the services provided to both the students and the teachers. According to Hoy and Tarter, â€Å"The principal of a healthy school is a dynamic leader. In healthy schools, the principal supports the teacher, is reflective, and provides high standards for performance.

Police Administration Essay Example for Free

Police Administration Essay In the general concern of police administration, strategic program evaluation is indeed important for the effectiveness of their service and function in the society. Through the thorough evaluation and analysis of their administration and programs, the police organization can understand their processes and strategies in which they can notice their challenges, pitfalls, and problems thus ensuring measures to further develop their performance and service. Another is that through evaluation, the police administration can likewise determine their strengths and advantages, which they can incorporate in their organizational development and further performance plan. Indeed, with the knowledge determined in the administration and program evaluation, the police organization can find effective solutions and strategies for the realization of further development in their function as public servants. However, for the effectiveness of the program evaluation, certain measures must be implemented to achieve the desired results and information accuracy. In this aspect, most evaluations of the police organization programs are conducted by outsiders from the said institutions who mainly represent the public sector which are the primary target of the said program. There are three reasons for this arrangement namely as inclined with humanitarian concern, neutrality view, and the awareness campaign for the fundamental characteristics of the program. Indeed, the dialogue of program evaluation by outsiders counteracting the police institutions is arranged mainly for the intention of achieving effective influence and positive results from the program for the benefit of its target namely the public sector. The arrangement placing outsiders as the evaluators of the programs and strategies of the police organizations is established based on three reasons inclined towards the effectiveness of the police function concern. The first involves humanitarian concern wherein the outside evaluation will be conducted on the perspective of its target sector and the realization of its effects on the public. In the process of outside evaluation, the examiners can thoroughly consider whether the said police program, strategy, or action will be either advantageous or detrimental to their concern. With them conducting the evaluation as the party representing the public interest, they can significantly determined if there are any abusive characteristics or grounds in the program which would be contradictory to the function and responsibility of the police department. Another reason for the said evaluation arrangement is the neutrality pursuit wherein both parties namely the police force and the public sector desire a transparent and unbiased view on the examination. Having an outside party conduct the program evaluation will result to a process free from the political nature and pressure existing inside the police organization. With this arrangement, any bias qualities inside the program can be reduced or even eliminated as both contrasting parties have reviewed and commented on the nature of the said program. The third reason for the said arrangement in police program evaluation lies in the awareness campaign and interest of the police organization. In this concern, the police group must acknowledge the presence and relevance of the public sector representation in terms of information dissemination and awareness. Manifested in the outside party evaluation, a party representing the public must be allowed to investigate and acquire knowledge regarding the program of the police organization. Having been informed of the program’s nature and characteristics, the said party can aid the public in understanding the purpose and relevance of that program thus, gaining the trust, support, and participation of the public sector. Indeed, doing the arrangement of outside party evaluation can effectively aid the interest of the program of manifesting the function of the police organization and benefit the need of the public sector. In the pursuit of achieving effectiveness in the action and performance of the police organization, programs embodying the function of the organization are created as part of their action. In the concern of achieving the beneficial interest from the police performance, the arrangement establishing outside parties to evaluate and examine the performance program of the police organization is created. This approach is developed mainly based on the reasons of humanitarian concern, transparency in the organization’s activities, and the interest of the public for awareness in the presence and activities of the police organization. In general, the development of the said arrangement as part of the procedural activity of the police organization is for the effectiveness of their function and duty of protecting the welfare of the public and promoting peace in the society.

Improving Organization Retention Paper Essay Example for Free

Improving Organization Retention Paper Essay Organizations often experiences staffing issues; therefore, one department will be asked to cover for another. However, these issues can be generated from several aspects within an organization such as staffing issues, financial issues, and organization retention. Subsequently, the organization administration must endeavor to sort out the best strategy to resolve these issues. In this particular paper the underlying issues involves staffing. â€Å"Strategies for improving the employee selection process include tracking recruitment sources; using realistic job previews (RJPs); using assessment tools and interviews to predict turnover; and hiring for fit and motivation (Barrick Zimmerman, p. 1 Para 6 2005). Moreover, an organization that implements a successful staffing approach will essentially establish a positive influence regarding employee retention. Nevertheless with this paper organization retention will be discussed in details, and work motivation theories will be applied to improve employee recruitment and retention at JC’s Casino. An examination of potential occupational stressors that are considered as a negative influence on recruitment and retention as well as a significant proposal will be demonstrated. Furthermore, the role of job satisfaction and its influence on retention at the casino, and recommendations for improving job satisfaction of the employees, and how that can play a part in successfully improving retention will be discussed. Ultimately, a discussing regarding counterproductive employee behavior occurring at the casino as well as what suggestions that would reduce the counterproductive behavior and increase productive employee behavior will be demonstrated as well. JC’s Casino This particular casino is in disarray as the result of unpredictable staffing issues, which essentially caused the casino dealers to leave. In fact, the dealers obtain employment with other casino that merely offered a lower wage rate in contrast to his or her former employment. Moreover, the casino housekeeping staff itself was experiencing issues because of the absenteeism and the high turnover of rooms. Consequently, this issue essentially impinged on other departments within the casino because of the required staff needed to manage the casino was lacking. Indeed, this concern did not impress the casino customers; in fact, it merely produced more chaos as the hotel had to adjust the check -in times, and hire additional staff to work in the luggage room. The customers who arrived earlier had to be accommodating as the organization policy entailed. However, the owner is unaware of the magnitude of the issues, which surrounds the casino itself. In essence, the owner merely knows of the specifics such as the dealers was dropping off like flies, and casino customers were becoming increasingly displeased regarding the untimely check-in transformation. Following, these issues and the whole story enlighten; one could understand why this particular organization desires urgent assistance as a means to improving the organization retention. Motivation Work theories One of motivation work theories that will be employed involves the Douglas McGregor’s X-Y Theory. Douglas McGregor (1906-1964) was the creator of one of the leading exceptional management theories without comparison. He hypothesized that a management position is considered as one of the most significant position within a corporation. In essence, he proposed that it was the manager responsibility to encourage and unveil the vast creative capability within people. McGregor introduced two significant forms of management approaches, which essentially started the development of his X and Y theories: the authoritarian and the participative. The Theory X authoritarian management style, employees are inherently lazy, and the individual would generally have to be forced to work. Nonetheless, under the Theory Y participative management style, employees would discover work as favorable. McGregor also emphasize that, under the proper management, all employees are naturally Theory Y employees (Kallio, 2006). The X Theory is primarily centered on a fashion of management and leadership that is authoritarian, whereas the Y Theory tends to employ more constructive aspects of leadership. Consequently, McGregor’s theory can relate to JC’s Casino situation as it expresses organization development. The Y Theory will allow the staff members to make progress and advance. This way of thinking, in view of this aspect it would be a plus to employ as a means to enhance recruitment and retention within The JC’s Casino. To embark on this journey first, the Y Theory will permit the manager to support employees’ incentives in place of reprimand and demerits. The Y Theory managers deem that each employee like work, and work for the good of the organization, which generates capitalization on competency between the employees. The Y Theory manager would give employees the chance of an independence of creativeness, which would form motivated and faithful employees who appreciate his or her job. The Y Theory managers also work toward building meaningful and productive relationships with their employees. These managers contend with McGregor understanding that the responsibility of management is to allow their employees to express their vast creative potential (Skidmore, 2006). One significant aspect, the Y manager would offer an open dialog with employees and other departments and through displaying leadership by leading with example. Domination and reprimand are not always the best, and the only method to create profitable workplace. In fact, the work itself should be asked and not commanded as a manager subscribing to the X Theory would be more likely to perform. However, the success of either of these theories would essentially depend on -the -job as well as the individual. Some people require unvarying direction and others will excel with little or no direction. In essence, it would fall back on what the individuals work best with regarding Theory X and Theory Y would come into play motivational wise. Another significant theory is called the Z theory founded by William Ouchi. This particular theory is identified as the â€Å"Japanese Challenge† within the management, which is employs the Y Theory and modern Japanese management principals. Although the employee within this theory must have the proper mind-set at all times for tasks with complete liability regarding the ultimate result of tasks. â€Å"Nevertheless, Theory Z essentially advocates a combination of all thats best about theory Y and modern Japanese management, which places a large amount of freedom and trusts with workers, and assumes that workers have a strong loyalty and interest in team-working and the organization. An individual behavior and environment can change unexpectedly; thus, this particular theory lacks the strength, and direction contrasting to the McGregor X-Y theory that involves great motivational suggestions and reasoning. Occupational Stressors JC’s Casino organization have a high stress level profession as well as a high stress level that often surfaces between employees. This type of environment entails customers who are commonly inebriated and often irritated; thus, workers must intervene if necessary. Consequently, recruitment and retention should be meticulous because a casino environment can be challenging and not for everyone. According to researcher’s casinos that implement Anger Management courses that include procedures for recognizing and managing stress, which displayed a higher results regarding employee contentment (Internet Reference, Anger Stress in Casinos-www.andersonservices.com). Role of Job Satisfaction To implement employee satisfaction the primary focus would be directed toward researching other successful casino such as Ki-Joon Back, a Korean casino. This casino successfully has applied an employee job satisfaction and organizational assertion. The Korean casino embarks on requiring the employees to engage in a survey questionnaire; consequence aided management by enhancing the condition of employee satisfaction. Moreover, this type of method can be employed within JC’s Casino with the same results. One must first follow- up on the results such as provide ongoing training, health care benefits, and maintain an open dialog with employees. Each aspect should be permanent to ensure employee satisfaction, recruitment as well as retention. Furthermore, the organization should also present employees with necessary supplies according to the resources. When employees are provided with the required supplies it will create a better atmosphere and enhance self-respect and retention. It is significant to bear in mind that integrity generally starts on the top of administration and can seep into the workers (Internet Reference, CQX.com-Cornell Hospitality Quarterly Management). Employee Behavior According to Global Gaming Business regarding employee’s behavior within type of environment by which it emphasizes that when counterproductive behavior occurs in a casino the management should tackle the issue immediately as well as the peoples involved instead evading the situation. Casino policy should be made unquestionably and sincerely to employees who in turn create an appreciation amid management and staff. Management must be the voice of logic when dealing with rumor or complex concerns. Management must take the led to sort out personally grievances and issues on the floor during his or her shift, and one should by no means leave issues unresolved. However, JC’s Casino has two key vital focal points here concerning behavior perceived as counterproductive, which starts with Joe, the tyrannical pit boss, and the above rate of absenteeism among the housekeepers. Management must correct the issue with Joe; in fact, he needs to be taught that his method of working and dealing with his coworkers is causing counterproductive. His behavior is essentially causing the employees to perform inadequately, and resulting in employees to leave the casino. Joe must be retrained and needs to from this point on apply a Y Theory approach in which he works with his employees instead of his former method. In case for some reason he refuses or cannot adjust management must consider reinstating him or shifting him to a position because his behavior is not complimentary to the organization. Another point counterproductive to the company is the above rates of housekeepers as absent from work. The casino pays a fair wage, but because of the shortage of staff the housekeepers undergoing overworked and underappreciated beliefs. The casino needs to employ a new management agenda in which the managers had a better mentality and could create an enhanced working environment for the employees. Conclusion Indeed, based on this finding manager knowledge, skills, and abilities are highly necessary. A management position is considered as one of the most significant position within a corporation. The JC Casino entails numerous significant facets and layers that could be perceived as challenging and are causes for concern. If management maintains this model, change decision-making methods and mindsets, aid employees with healthier working conditions and with respect. This will lead to longer retention and will eventually lead to a better more efficient recruitment process, which will aid the JC Casino as it continues to soar, and becomes profitable. Management must correct the issue with Joe; in fact, he needs to be taught that his method of working and dealing with his coworkers is causing counterproductive. Ultimately, the corporation expects the manager to be prepared to work harder, and to put forth more effort than the others leading by the example. The effectiveness of either of these theories would ultimately come to depend on- the- job and the workers. References Barrick, M. R. Zimmerman, R. D. (2005). Reducing voluntary, avoidable turnover through selection. Global Gaming Business Vol.9. No. 2, (Internet Reference, CQX.com-Cornell Hospitality Quarterly Management. (Internet Reference, Anger Stress in Casinos-www.andersonservices.com (Internet Reference, Motivational theories-www.businessballs.com. (Internet Reference, http://www.businessballs.com/mcgregor.htm. Journal of Applied Psychology, 90, 159-166. Retrieved April 4, 2011 Kallio, B. (2006). Mcgregor, Douglas. Encyclopedia of Educational Leadership and Administration. Retrieved on April 4, 2011, from http://www.sage-ereference.com/edleadership/Article_n368.html Skidmore, M. (2006). Theory X, Theory Y. Encyclopedia of Educational Leadership and Administration. Retrieved on April 4, 2011 from, http://www.sage-ereference.com/edleadership/Article_n566.html /

Organisational Change In The Sandwich Factory Management Essay

Organisational Change In The Sandwich Factory Management Essay This report will explore the type of leadership styles are used in The Sandwich Factory. Kirsty Flower owns The Sandwich Factory which was established in 2005 by her and her colleagues that worked before hand together in similar industry. All the managers in the organisation consist of women which form the Senior Management Team. Kristys leadership styles integrate with modern leadership theories in many different ways, one theory more than the other in some cases. The modern approaches to leadership this report will look in depth are Leader-member Exchange theory, Path-goal theory and New leadership. The success or failure of The Sandwich Factory depends on Kirstys manager leadership qualities. Leadership is the activity of influencing people to strive willingly for group objectives (Kumar 2001: 190). To succeed a leader needs have a motivated team which can only be achieved by the leader taking control as well as listening to the followers issues or needs. The modern leadership theories are commonly found in todays society amongst leaders. These theories can be applied in all types of organisations from a small business to multinational cooperations. The approaches are further frequently used rather than the older theories such as The Great Man theory and Trait theories. The modern leadership theories take more into account the motivation of subordinates, how the follower feels and considers the workers important, it is them that lead to the success of the company. Introduction to the Path-goal Theory approach There are umpteen types of modern approaches to leadership, path-goal theory, leader member exchange theory and new leadership transformational/transactional leadership. Subordinates have a lot more power in the modern approaches as compared to the older leadership theories. Kirstys leadership may be seen as reflective of modern leadership theories and approaches as the evidence will show how the styles incorporate with the case study. Kirsty has several leadership styles; Path-goal theory is one of the approaches which are used in The Sandwich Factory by Kirsty, the owner. An examples of this style is I have a vision and I try to make it clear to staff that we are in this together, all going the same way towards one goal (Case Study: Week 5). Kirsty is letting all the followers know by this statement that there is a path and a target and everyone is in it together as a team. The role of the leader is to steer workers towards achieving the end goal. Leadership also motivates when it makes the path to the goal clear and easy to travel through coaching and directions, when it removes obstacles and roadblocks to attaining the goal, and when it makes the work itself more personally satisfying (Northouse 2007: 128). There are many advantages to the Path-goal approach, Kirsty and the followers have mutual respect; it is easier to communicate with subordinates when there is a flatter system and fewer channels to get through, the leaders style is informative, encourages and supports the employees, and shows guidance in achieving goals. The theory works around context and the work setting rather than leaders style which occurs in the contingency theory. The underlying assumption of path-goal theory is derived from expectancy theory, which suggests that subordinates will be motivated if they think they are capable of performing their work, if they believe their efforts will result in a certain outcome, and if they believe that the payoffs for doing their work are worthwhile (Northouse 2007: 127). The responsibility of the leader is to help employees achieve their target, making sure that the path to the end goal is understandable and simple; from this workers will become confident and be motivated fo r future tasks. Subordinates will find the work easy as the goals will be broken down and explained well by superiors. There are also flaws to the Path-goal approach; the theory assumes the leader knows everything and has the qualities to give a clear path to followers to reach their goal. It also presumes that subordinates will be motivated by the perception of the possibility of achieving a goal and the leader is expected to have a positive impact on the followers and motivate them regardless of the situation. Introduction to the Leader-Member Exchange Theory approach. The Leader-Member Exchange (LMX) theory is another approach which applies to the case study; it is the only theory that deals with in and out groups. All the employees seem to be in the in group; luckily The Sandwich Factory has no visible out group. The in group has dyadic relationship with the leader where as the out group has more of a formal relationship with leader and are not felt a part of the tasks that are performed. These groups are created by the leader, if the followers agree to negotiate with the leader then they will become a part of in the group and will be further more involved with current and perhaps future projects depending if the individual can keep the leader satisfied with the standard of performances. The job of the leader in the LMX theory is to ensure that followers feel important and unique member of the team. The LMX theory develops into two stages; firstly the leaders initial impressions of the worker such as their personal and demographic characteristics. Secondly the output that is produced by the employee, the leader will judge if the tasks completed are to standards expected, on this basis the worker shall either enjoy high quality leader-member exchange or they shall be placed in the out group by the leader, where treatment will not be so pleasant. An example of the LMX theory in the case is when Kirsty mentions workers can add their own input to the business, these type relationships exist when the leader has a strong and stable relationship with employees which is a feature of this approach. I also have to trust staff to be fully committed to what we want and I`m open to any ideas on how to make that vision a practical reality (Case Study: Week 5). Kirsty has developed a loyal individual relationship with all team members which in effect will create a greater output as the Senior Management Team will be motivated by Kirstys influence. One of the undeveloped parts of the theory is a follower from the in group is perceived to be good at all task just because the subordinate is good at one task For instance, a members less than satisfactory job performance is tolerated because of the loyalty he has shown to the leader (Othman, Ee and Shi 2009: 340). This implies that the leader may misunderstand the worker and misclassify their performance. This is a defect of the LMX approach which is major compared to other theories as it affects the quality of work. There can be constant change within the groups, people maybe be dropped or may start involving themselves with in the in group depending on circumstances. Introduction to the New Leadership Theory approach Transformational leadership came into focus in the early 1980s. This theory gives attention to charismatic and effective aspects of leadership; it changes and transforms subordinates as the name implies. It is concerned with emotions, values, ethics standards, and long-term goals and includes assessing followers motives, satisfying their needs, and treating them as full human beings (Northouse 2007: 175). Kirstys leadership style can be seen as transformational as she is interested in on focusing on helping every member of the group succeed. Kirsty says I try to be hand on hand to clarify any issues the staff have (Case Study: Week 5). One of the components of the transformational theory is Idealised influence (charisma). This method the leader shows clear set of values that need to be followed and acts as role model to the workers. This charismatic dimension of transformational leadership is characterised by providing a vision and a sense of mission, instilling pride among the group, and gaining respect and trust (Humphreys, Einstein 2003: 86). The leader is seen as a hero by employees. Kirsty is getting more out of her staff since they seem to be in high spirit at work. An example of this approach being applied in the case study is the staff seem to be happy and enjoying the devolution of authority and responsibility I`ve been able to give (Case Study: Week 5). This can be seen as individual consideration to members of the team that Kirsty feels can be developed to accomplish more. The flaw of the approach is it tries to involve too many factors which can create confusion and uncertainty to the follower and the leader if it were too be practiced upon. Transformational theory is unlike other theories it does not take into consideration how the leader should act to particular situations to be successful. Transactional behaviour is a part of the modern theory approaches, which comes under the New leadership approach. It works by motivating subordinates and rewarding or punishing them depending on how well they perform with the tasks. In this approach the leader has hold over the followers and expects the workers to perform to high standards. Kirsty does not hold this type of style; her leadership approach is more towards the Transformational theory which is more lenient and considerate towards the follower. The strengths and weaknesses of Kristys leadership Path-goal theory approach. There are many strong points and weakness of Kirstys leadership in The Sandwich Factory. The first approach that will be critically analysed is the Path-goal theory. This style is concerned with how leadership behaviour can influence the satisfaction and performance of a follower in an organisational setting. The Path-goal approach is about diminishing obstructions to reach goals then rewarding the employees for task achievements. In essence, the path goal theory attempts to explain the impact that leader behaviour has on subordinate motivation, satisfaction and performance (Jain 2005: 328) One of the strengths of the Path-goal approach is that it deals with a combination of factors. There are a few types of leadership styles in the path goal theory, the approach suggest that these behaviours should be used in different circumstances to motivate subordinates. Supportive Leadership the leader attempts to solve any concerns of the subordinate, so if the follower is unsatisfied the leader will show genuine support to help resolve the issue facing the person. The supportive leader likes a friendly environment and gives strong attention to the needs and wellbeing of his or her subordinates (Silverthorne 2001: 151). This type of approach is best used when jobs are boring or stressful e.g. car manufacturing factory. Achievement Orientated Leadership The leader has set high expectation for followers at this style, challenging the employee to his/her fullest, hoping the subordinate will excel in their field, showing confidence that they will achieve goals set and perform well. People who perform a variety of tasks may find their jobs more satisfying and have less need for social support (Marriner-Tomey 2004: 174). An example of this approach being applied in the case study is the staff seem to be happy and enjoying the devolution of authority and responsibility I`ve been able to give (Case Study: Week 5). This shows that subordinates are content and willing to take on extra tasks. The disadvantages of the Path-goal theory are it is too broad and tries to involve all aspects (directive, supportive, participative and achievement orientated leadership), and incorporate all these together which makes it difficult to actually practice upon the theory fully. It also does not explain how these four types of approaches will affect the employees work. This leaves the practitioner with insufficient proof how this theory will work in reality and how it can be applied to an organisation. . The strengths and weaknesses of Kristys leadership Leader-Member Exchange approach. As discussed earlier in the report the LMX theory relates to the case, Kirsty and her friends that previously worked for Mr Bakes all moved across to start a new company called The Sandwich Factory which consisted of Kirsty and several other colleagues as having share in the business. The friends are noticeably in the in group, which is considered a strength, where Kirsty has a strong relationship with these subordinates, who have been given a managers role Kirsty`s colleagues now hold senior positions on the Senior Management Team (SMT) (Human Resources, Finance and Production) (Case Study: Week 5). Kirsty and the followers have mutual respect and trust towards one another which are strengths of the LMX theory. The theory emphasises the importance of recognising the existence of in and out groups within the work place. LMX theory is the only leadership theory that makes the concept of a relationship between leader and follower the centrepiece of the leadership process. Leaders in high quality LMX relationships rely heavily on followers to act in their stead (Dunegan et al., 1992) and encourage them to undertake more responsible activities (Graen and Uhl-Bien, 1995) (Kang, Stewart 2007: 534). In the interview Kirsty answered saying we all got on well with our previous employer (Case Study: Week 5), this implies that the relationship must of been healthy with Mr Bakes organisation. The in group has been carried forward to Kirstys company The Sandwich Factory, one of the strengths of this approach. It can be argued there are limitations to the LMX theory, the out group are deprived of attention from the leader in the context of work groups, it is possible that such a situation can be divisive and undermine group performance (Othman, Ee and Shi 2009: 340). This type of behaviour is can be seen as destructive leadership as it upsets employees even though partially some of them may be content with their job and boss. The out groups morale will be extremely lower compared to the in group who will be enjoying a healthy relationship with the leader. Staff in the out group will not be so committed and motivated to do well in their jobs. The Sandwich Factory does not have an out group just yet this may be because the company is relatively new and Kirsty leadership style will not allow it for these types of circumstances to occur as they will have negative repercussions. First impression of this theory will not be great to leaders and practitioners as it displays unfairness and favouritism towards the out group as leaders are only concerned with performance. The strengths and weaknesses of Kristys leadership New Leadership approach. Kirsty has transformational leadership qualities, which is another modern leadership approach, this also known as New Leadership which in addition has Transactional Leadership. She takes control of situations by conveying a clear vision of The Sandwich Factorys goals and objectives; she has a passion for the work and the ability to make the followers feel re-energized. This type of leadership consists having a shared vision and unity within the team. One of the strengths of transformational leadership is to give clear direction and involve others in developing the vision. This statement given by Kirsty in the Young Entrepreneur (London) Monthly relates to this theory The original idea to start up the company was mine, but I needed people to come with me to make my vision work for the betterment of all involved in the company (Case Study: Week 5). The transformational theory has become popular over time as it allows the leader to get the most out of the follower when executed in a considerate but professional manner. Bass (1990) suggests that by applying the behavioural characteristics of transformational leadership, leaders can guide their followers toward performance beyond expectations (Humphreys and Einstein 2003: 85). The disadvantage of the transformational approach it depends on highly skilled and developed employees to be triumphant in tasks assigned to them. Another criticism about the theory is the approach presumes followers want change. This theory also believes that leaders are people that can transform others around them. Then this brings up the question, how sure are the followers that the leader is making the right decision? The Transactional theory is about the leader having full control and authority over subordinates. The leader makes it clear what is required from the follower. A form of transactional approach in the case is when Kirsty says I found myself papering over some cracks that appeared in the early days when we had to get things done fast (Case Study: Week 5). Transactional leader works or a reward or punishment basis to motivate followers, if the employee reaches targets within a low budget then they will be given an incentive and if the worker fails the task or is not complete on time the worker will be punished or the leader will begin to make the follower feel uncomfortable. The limitation of the transactional approach is that its primary focus is on rewards and punishments. Rather than the growth and needs of employees which the transformational theory concentrates on along with other styles, maintaining a balance of what is important. Conclusion All three modern leadership theories and approaches have been identified in this report and how they have impacted subordinates as well as the leader. The path-goal theory motivates workers to make them feel that they can do the work and Kirsty uses this style to encourage subordinates that they can fulfil tasks. Transformational theory has the same type of idea but it seems less complex to use and apply in The Sandwich Factory. The LMX approach is not widely used or applied but there are hints of the theory with in the case, mostly regarding the in groups that have been created in the company by Kirsty. The entire the way through the case study Kirsty keeps referring to we as the organisation went through all different stages together e.g. we created a market, we had to get things done faster and so on. This is clear evidence that Kirsty does not just see herself running The Sandwich Factory but strategically as team, which shows great leadership to progress forward. Evidentially these modern leadership theories have been used by Kirsty and have worked well. The analysis has revealed the strengths and weaknesses of the modern leadership approaches related to The Sandwich Factory.

Character Reference Letter for a Friend :: Business Character Reference Letters

Character Reference Letter for a Friend The purpose is to provide a character reference for Bob Simmons whom I have known as a classmate, roommate, and friend for a period of six years. I first met Bob our freshman year at State College. We were studying an arts program there and became acquainted through a number of classes that we shared. By the second year, we had become friends and decided to live together in an off-campus apartment. We shared that living arrangement until we graduated last year. Having gotten to know Bob over the past few years, puts me in a position to provide you with a pretty accurate assessment of his character. As a student, Bob was hard-working and highly committed to his education and grades. I believe that his excellent transcripts will attest to that fact. In addition, he was involved in a number of extra-curricular activities including the track and field team and the school newspaper. In his last two years he was Assistant Editor of the "Campus Times". He was always outgoing, willing to help someone out, and was very popular with his fellow students. As a roommate, Bob was a great choice. He was very neat and tidy at all times and he liked things in the apartment to be kept orderly. He made a point of cleaning his own room and the common living areas on a regular basis. He socialized occasionally at home but was always respectful of my needs, and he and his guests kept the noise down and ended their activities at a reasonable hour. As a friend, Bob is as good as they come. He is loyal, honest, respectful, and supportive, and has the ability to see and understand things from another person's perspective, not just his own. He is a great direct communicator and knows how to raise and discuss common living issues and problems in a non-threatening manner. He is hyper-sensitive and is always tuned into how the person might feel in a given situation.

Containment and the Cold War Essay -- essays research papers

Containment and the Cold War In February 1946, George F. Kennan, an American diplomat in Moscow, proposed a policy of containment. Containment is the blocking of another nation’s attempts to spread its influence. During the late 1940s and early 1950s the United States used this policy against the Soviets. The United States wanted to take measures to prevent any extension of communist rule to other countries. The conflicting U.S. and Soviet aims in Eastern Europe led to the Cold War. The Berlin airlift, formation of NATO, and the Truman Doctrine all relate to this policy of containment.   Ã‚  Ã‚  Ã‚  Ã‚  At the end of WWII, the United States, Great Britain, and France occupied the western zone of Germany while the Soviet Union occupied the east. In 1948, Britain, France, and the U.S. combined their territories to make one nation. Stalin then discovered a loophole. He closed all highway and rail routes into West Berlin. This meant no food or fuel could reach that part of the city. In an attempt to break the blockade, American and British officials started the Berlin airlift. For 327 days, planes carrying food and supplies into West Berlin took off and landed every few minutes. West Berlin might not have made it if it wasn’t for the airlift. By May 1949, the Soviet Union realized it was beaten and lifted the blockade. By using the policy of containment, the Americans and the British were able to defeat the Soviets.   Ã‚  Ã‚  Ã‚  Ã‚  After the Soviets b...

Cis11 Assessment 1

Safety Styles Pty Ltd Financial Information Ratios and Financial Data Profitability201020112012 Return on assets30. 2%31. 46%31. 48% Return on equity32. 62%34. 02%34. 07% Gross profit margin57. 55%57. 51%57. 93% Net profit margin16. 04%13. 90%14. 35% Efficiency Asset turnover (times)1. 882. 262. 19 Inventory turnover (days)95. 6290. 5595. 10 Accounts receivable turnover (days)50. 3742. 6645. 16 Liquidity Current ratio4. 124. 13. 91 Quick asset ratio2. 462. 452. 21 Capital Structure Gearing ratio2. 372. 62. 54 Safety Styles Pty Ltd Application Decision It would be my recommendation to grant Safety Styles their application for additional finance. Profitability: Safety Styles Pty Ltd has demonstrated in is able to generate and increase its profits as demonstrated through the healthy Gross and Net Profit Margins. It should be noted during this three year period Safety Styles Pty Ltd has maintained and increased the Gross Profit margin, Safety Styles Pty Ltd has also maintained a healthy Net Profit Margin.Although dropping slightly the second year they have managed to improve this in their third year increasing their overall profitability Safety Styles has also increased both its Return on Assets and Return on Equity, this demonstrates the ability of the company to efficiently make use of its assets and equity which ultimately reduces requirements for more funding and reduces cost making better use of what they currently have. Efficiency: Safety Styles Pty Ltd appears on average over the last three years to be improving its efficiency to make better use of their assets and turning over their inventory.Safety should also focus on this area and strive to improve their efficiency. Whilst the values may seem quiet higher their total sales amount has raised which may not be taken into account with averages. Safety Styles may need to revisit their inventory strategy as their turn over period is quite high; this would be a benefit for them in the long term by having quicke r access to cash for investment in other assets. They should also pay attention to their Accounts Receivable Turnover and aim to reduce this. Liquidity:Whilst Safety Styles Current ratio and Quick asset ratio is declined they are both still very healthy numbers. Safety Styles non-current assets have been increasing annually. They may want to pay attention to reducing their inventory levels and accounts receivable to give them more cash and the opportunity to invest into non-current assets or reduce their liabilities as they currently has a low level of cash compared to inventory and accounts receivable. This will make the company more â€Å"liquid† in the short term.Safety Styles also has a very healthy quick asset ratio compared to the industry standard of 2. It should be noted that Safety Styles currently do not have a high level of liabilities and seem to be maintaining their levels of dent in relation to their assets Capital Structure: Safety Styles currently have a very low gearing ratio and are using retained earnings for most of their financing. External sources of financing will be a benefit to Safety Styles to help them grow and invest in additional non-current assets. Executive SummarySafety Styles appear to be utilizing their assets and equity very well currently to help produce their profit and maintain both healthy gross and net profit. If this is maintained they should be able to repay their long term liabilities and possibly improve their current asset liquidity. ? Appendix Formulas †¢Return on Assets = (Net profit before interest and taxation / Average total assets) x 100 †¢Return on Equity = (Net profit after tax and preference dividends / average ordinary shareholder’s funds) x 100 †¢Gross Profit Margin = (Gross profit / sales) x 100 Net Profit Margin = (Net profit before interest and taxation / sales) x 100 †¢Asset Turnover Ratio = ( Sales / Average Total Assets) †¢Inventory Turnover = (Average inventor y / cost of sales) x 365 †¢Accounts Receivable Turnover = (Average accounts receivable / credit sales) x 365 †¢Current Ratio = (Current assets / current liabilities) †¢Quick Asset Ratio = (Current assets (excluding Inventory and prepayments) / current liabilities) †¢Gearing Ratio = (Long-term liabilities / share capital + reserves + long-term liabilities) x 100 Ratio definitions †¢Return on Assets The Return on Assets (ROA) demonstrates how effectively a company is using its assets to generate profit. The higher the ROA the better as the company is earning more off less investment †¢Return on Equity oThe Return on Equity (ROE) demonstrates the amount of net profit generated as a percentage of the shareholders equity. A higher ROE is better as it displays how much profit is generated based on shareholder investment. †¢Gross Profit Margin oThe Gross Profit Margin (GPM) is used to display the percentage difference between sales and the cost of sales b efore any other costs are factored in.A higher GPM is better as the company is making a higher profit off its sales †¢Net Profit Margin oThe Net Profit Margin (NPM) is used to display the net profit as a percentage of the revenue generated. A higher NPM is better as it indicates a more profitable company and how effective a company is at controlling its costs †¢Asset Turnover Ratio oThe Asset turnover Ratio (ATR) displays how well a business can use its assets in generating sales or revenue. A higher ATR is better as it demonstrates the amount of dollars generated by one dollar of the company's assets †¢Inventory Turnover The Inventory Turnover formula display how often the company sells and replaces its inventory. A low Inventory turnover is preferred as this means cash is not being held in inventory, is producing more revenue and has access to an ongoing source of cash †¢Accounts Receivable Turnover oThe Accounts Receivable turnover displays the average settlem ent period (days) credit purchased are settled by the customer. A shorter average settlement period is preferred as this means funds are not tied up and can be †¢Current Ratio This ratio is compares a company’s current assets and current liabilities to measure the liquidity. A higher ratio is preferred as it generally means the business can meet their commitments †¢Quick Asset Ratio oThe Quick Asset Ratio (QAR) also known as the â€Å"Acid Test Ratio† measures if a company can meet its short term liabilities with its current assets less its inventory as you can’t always rely on inventory to be converted into cash quickly. A higher ratio means the company is in a better position †¢Gearing Ratio The Gearing Ratio (GR) measures how much capital is financed by long term finance. A high gearing ratio means a company will depend of long term loans, a low gearing ratio displays higher reliance on financing through equity investment. Typically a high leve l of gearing means a higher level of risk for the company. Ratio Calculations †¢Return on Assets o2010 – (647 / ((2122 + 2163) /2)) x 100 o2011 – (685 / ((2233 + 2122) /2)) x 100 o2012 – (712 / ((2291 + 2233) /2)) x 100 †¢Return on Equity o2010 – (585 / ((1774 + 1813) /2)) x 100 2011 – (619 / ((1865 + 1774) /2)) x 100 o2012 – (644 / ((1916 + 1865) /2)) x 100 †¢Gross Profit Margin o2010 – (2321 / 4033) x 100 o2011 – (2834 / 4928) x 100 o2012 – (2875 / 4963) x 100 †¢Net Profit Margin o2010 – (647 / 4033) x 100 o2011 – (685 / 4928) x 100 o2012 – (712 / 4963) x 100 †¢Asset Turnover Ratio o2010 – (4033 / ((2122 + 2163) / 2)) o2011 – (4928 / ((2233 + 2122) / 2)) o2012 – (4963 / ((2291 + 2233) / 2)) †¢Inventory Turnover o2010 – (((((216 + 175) + (223 + 283)) / 2) / 1712) x 365) o2011 – (((((235 + 298) + (223 + 283)) / 2) / 2094) X 365) 2012 â €“ (((((235 + 298) + (230 + 325)) / 2) / 2088) X 365) †¢Accounts Receivable Turnover o2010 – ((((561 + 552) / 2) / 4033) x 365) o2011 – ((((561 + 591) / 2) / 4928) x 365) o2012 – ((((637 + 591) / 2) / 4963) x 365) †¢Current Ratio o2010 – (1257 / 305) o2011 – (1324 / 323) o2012 – (1272 / 325) †¢Quick Asset Ratio o2010 – (((1257 – (223 + 283)) / 305) o2011 – (((1324 – (235 + 298)) / 323) o2012 – (((1272 – (230 + 325)) / 325) †¢Gearing Ratio o2010 – (((43 / (70 + 1704 + 43)) x 100) o2011 – (((45 / (70 + 1795 + 45)) x 100) o2012 – (((50 / (70 + 1846+ 50)) x 100)

In what way is cultural and national identity a major concern in this extract Essay

The extract makes constant references to cultural and national identity through the style of the text, the imagery of the clothing and appearances of people. There is also indication to context through the beliefs of people in the places that Jonathan visits and their rejection towards him. Bram Stoker uses this cultural and national identity to contrast the one of that Jonathan possesses. Throughout the text, there is extensive description on the appearances of the people and sometimes architecture of the differences places the protagonist visits, depicting the differences of culture and national identity. They wore high boots, with their trousers tucked into them, and had long black hair and heavy black moustaches†¦ very picturesque, but do not look prepossessing. † These descriptions give clues to their context and when the appearance shifts rapidly, there is a clear understanding that the protagonist is travelling to new places quickly. This travelling is another clue to his context, with the existence of travel writing and trains. The culture and national identity of the different places that Jonathan travels to is an indication that he is no longer in his modern society but travelling deeper and deeper into a culture that almost lives in the past. This is shown by the imagery of the people in the different towns, â€Å"†¦ with short jackets, and round hats, and home-made trousers. † These people are highly superstitious and this is conveyed by the landlady’s concern for Jonathan as he is leaving on the 4th of May. In her culture, there is superstition upon the next day as it believed to be the day where â€Å"all the evil things in the world will have full sway†. The crucifix and rosary are symbols of her culture and nationality and are used to wear away the abhuman. This â€Å"old† way of life seems almost primitive and uncivilised compared to the â€Å"new† modern context that Jonathan comes from. As he travels from the West to the East, there is contrast between the clothing that they wear and also the beliefs within the people. Jonathan clearly comes from a more technologically and academically advanced society and this is shown through the epistolary form of the text which can be identified from the dates and locations stated prior every entry and the recount-like narration style. The train in Jonathan’s world is contrasted with the horse and carriage in the less advanced world he has travelled to. â€Å"[He] cracked his big whip over his four small horses, which ran abreast, and we set off on our journey. The late-Victorian context, anti-modernism and anti-rationalism is reflected in the locations Jonathan travels to. It is especially obvious when he passes groups of people and they call him names such as â€Å"â€Å"Ordog† – Satan, â€Å"Pokol† – hell, â€Å"stegoica† – witch†Ã¢â‚¬ . The people of the town show a rejection towards Jonathan as his modernity clearly does not belong in their society. They criticise him as a notion to criticise his modern kind for the abnormal behaviours of their world and the beings that possess these characteristics, the abhuman. Although there are differences in the nationalities, the identification of the abhuman in this area is uniform – â€Å"â€Å"vrolok† and â€Å"vlkoslak† – both mean the same thing, one being Slovak and the other Servian for something that is either werewolf or vampire. † This again depicts the large amounts of superstition and rejection towards science which is then contrasted with the rationality of Jonathan. The Eastern towns that Jonathan travels to are seemingly ‘abhuman’ as they believe in strange superstitions and do not believe in modernity and change. They are relatively primitive and do not embrace modern technology such as trains. This behaviour gives the reader that sense of abnormality and the abhuman as they see things through first person narration trough Jonathan’s point of view. Summarily, Stoker has used an epistolary style and other features to convey Jonathan’s context which is then contrasted with the descriptions of the unfamiliar locations that he travels to. This strange superstitious behaviour is used to contrast between the civilised and uncivilised, progressive and regressive, human and abhuman.

Newscorp strategic planning process model

NewsCorp (News Corporation) is a public company which is listed on the Australian and New York Stock Exchange. The corporation is also listed as a secondary listing on the London Stock Exchange. Newscorp was formerly incorporated in South Australia, and after a majority of the company’s shareholders approved relocation, Newscorp was re-incorporated in Delaware, in the United States on the 12th of November, 2004. Newscorp has its headquarters in New York, at 1211 Avenue of the Americas (Sixth Ave.), in the more modern 1960s-1970s corridor of the Rockefeller Center complex. I. HISTORICAL ANALYSIS Rupert Murdoch inherited assets in 1952, after his father died, and was able to create Newscorp was created in 1980, as a holding company for News Limited. Murdoch created news limited from assets he inherited in the year 1952 after his father, Sir Keith Murdoch died. A main asset left to him was the ownership of the Adelaide news. A. Businesses In: News corp. is today, to be one of the largest transnational media conglomerates on this planet. Its headquarters is in Sidney, Australia, almost every major parts of the world: United States, Continental Europe, Canada, Australia, United Kingdom, Latin America Asia etc covered by its global business operations including production and distribution of motion pictures and TV, Publication of newspaper, magazines and books. (http://www.courses.psu.edu/comm/comm497d_amh13/fall01/newscorp.html) In 1987, the company [through subsidiary news international] mad an adjustment in the production process of its British newspapers, something the printing union had long maintained a highly restrictive grip. Some numbers of senior Australian media moguls were brought into Murdoch’s powerhouse, including John Dux, who was the managing director of the south china morning post. This resulted to conflict with the printing unions NGA and SOGAT. When News international’s London operation was to whapping in the East End, it resulted to nightly battles outside the new plant. Delivery vans and depots were frequently and violently attacked, ultimately the union capitulated. In 1995, fox network was scrutinized by the federal communication commission [FCC] when it was alleged that its Australian base made Murdoch’s ownership of fox illegal. They however ruled in his favor stating that his ownership of fox was in the public’s best interest. It was also noted that the stations themselves were owned by a separate company whose chief shareholder was U.S. citizen Murdoch, nearly all of the stations’ equity was controlled by Newscorp. Newscorp announced a deal in the same year with MCI communication to develop a major website as well as launch the foxtel pay television network in Australia in   partnership with Telstra and publishing and broadcasting limited. In 1996, fox established the fox news channel, a 24hrs cable news station. In 1999, its music holding in Australia was significantly expanded by acquiring the controlling share in a leading Australian based label, Michael Gudinski’s mushroom records, merging it with already held festive records [FMR]. They were both managed by Rupert Murdoch’s son James Murdoch for several years. In late 2003, newsdorp acquired a 34% in Hughes direct TV from General Motors for electronic operations of the largest American TV system, $6billion. Newscorp reached an agreement in 2007 to purchase Dow Jones publications of the wall street journal for an estimated $ 5.6billion. On 15 Oct 2007, the corporation spun off a business news channel from fox news, fox business news. â€Å"Their lawyers reviewed all the details of the contract between Dow Jones and cnbc† said Alex Glock fox business news’s vice president and the channel’s morning anchor. But she added, â€Å"We will actively use the other Dow Jones properties†. (Alex Glock) B. Goal Clarification Making the most of Dow Jones: Cohen pointed to newscorp’s. past statement that it could realize $50million in cost savings, specific offers were demurred by chermin, saying we believe there are significant cost savings on the print side. â€Å"We would like to see the deal close before we offer any number or predications. In the broadcast terms, Dow Jones NYSE News .people revenue comes from two areas and one of those areas print, is under -leveraged.† (http://rate.forbes.com/comments/CommentServlet?op=cpage&sourcename=story&StoryURI=2007/09/17/newscorp-earnings-digital-tech-cx_pco_0917paidcontent.html) C. Strategies and Tactics fulfilling the Goals Annual conference: News Corporation always organizes an annual management conference, discussing media related issues to geopolitics. Those that attend include news corporation executives, senor journalist, politicians and celebrities. Cancun, Mexico, Australia, hosted such events. They were private and secretive, records are not available for the agenda neither were talks given at the conference and no uninvited journalist are permitted access. The 2006 event was in pebble beach California led by Rupert Murdoch, leaked copy of the agenda to the Los Angeles Times and other media accounts showed that issues discussed related from Europe to broadcasting and new media terrorism to the national policy. The event included speeches from Rupert Murdoch, former governor Arnold Schwarzenegger, Prime Minister Tony Blair, Bono, Al Gore, Hillary and Bill Clinton etc. D. Environmental Analysis News Corporation made its first acquisition in the United States in 1973 when it purchased the San Antonio Express- News and after founded the National Star, a supermarket tabloid and purchased the New York post in 1976. in 1981, it bought half the movie studio 20th century fox and the other half in 1984. In 1958, it announced it was buying the metro media group of stations, setting the stage for the launch of a fourth U.S broadcast network. In September 4 1985, Murdoch became a naturalized citizen to satisfy the legal requirement that only United States citizens could buy and own television stations. In 1986, the metro media deal closed and the fox broadcasting company was lauded. This network known and seen as â€Å"FOX† can now be picked up in over 96% of US household. In 1987, newscorp bought the Herald and Weekly Times ltd. In Australia the company that Rupert Murdoch’s father had once managed. By 1991, newscorp had amassed Hugh debt which forced it to sell many of the American magazine interest it had acquired in the 1980s. Much of this debt came from its stake in the sky television satellite network in the uk, which incurred massive losses in its early years of operation which was subsidized with profits heavily from other of its holdings until it forced its rival to accept a merger on its terms in 1990. The merger company BSKYB has dominated the British pay- TV market since. E. Competitive Analysis News Corporation. [NYSE: NWS, NWSA, ASX: NWS, NWSLV.] As at December 2007, News Corp had total assets of approximately US $69billion and total revenue of $31billion. They are diversified in their entertainment with operations in eight industries segments: television, filmed entertainment, cable network programmes, direct broadcast satellite television, magazines and inserts etc. newscorp activities are conducted in the United States, Continental Europe, UK, Australia and Pacific Basin. F. Strengths and Weaknesses of the organization News Corp’s revenue for the year ended as at June 30, 2007 was $28.655billion with operating income of $4.452billion. â€Å"This does not include newscorp’s minority shares of the revenue from direct TV and British sky broadcasting, almost 70% of the company’s sales is from its U.S. business.† (http://www.newscorp.com/investor/investments.html) References Alex Glock http://www.courses.psu.edu/comm/comm497d_amh13/fall01/newscorp.html http://www.newscorp.com/investor/investments.html http://rate.forbes.com/comments/CommentServlet?op=cpage&sourcename=story&StoryURI=2007/09/17/newscorp-earnings-digital-tech-cx_pco_0917paidcontent.html http://www.hofstra.edu/Libraries/Axinn/axinn_jnstructions_busres_bzhmpage.cfm http://www.newscorp.com/Report2007/AnnualReport2007/HTML2/news_corp_ar2007_0069.htm http://en.wikipedia.org/wiki/News_Corporation http://www.hollywoodreporter.com/hr/content_display/business/news/e3i729f8835496e3ace5be346c06e9db2f7 http://www.news.com.au/business/story/0,23636,22617852-14334,00.html http://www.time.com/time/magazine/article/0,9171,960821-2,00.html http://www.time.com/time/magazine/article/0,9171,960821-3,00.html http://www.hollywoodreporter.com/hr/content_display/news/e3i118a16d2ff59590bd77181d8da9c9fb9 Fox Business makes TV debut, Hollywood Reporter, 16 October 2007. Accessed: 10-17-2007 Fox Business Network blazes new trail, USA Today, 14 October 2007. Accessed: 10-17-2007. Fox Business: Fluff meets financial, Toronto Globe and Mail, 16 October 2007. Accessed: 10-17-2007. http://www.theage.com.au/news/BUSINESS/News-Corp-Murdoch-trust-sells-shares/2007/11/16/1194766914058.html â€Å"Murdoch's son sees pay doubled ahead of exit† http://video.google.com/videoplay?docid=5248387077652418022&q=alwaleed&hl=en Kercheval, Nancy and Danielle Rossingh. â€Å"News Corp. to Sell U.S. TV Stations for $1.1 Billion (Update5)†, Bloomberg.com, 2007-12-22. Retrieved on 2007-12-22. â€Å"Murdoch's Pebble Beach shindig†, Australian Broadcasting Corporation. Retrieved on 2007-12-01. â€Å"Bono and Blair to join Murdoch on the beach†, Guardian. Retrieved on 2007-12-01. â€Å"The PM, the mogul and the secret agenda†, Guardian. Retrieved on 2007-12-01. FCC, (2001). FCC Approves Fox/Chris-Craft Merger with Conditions, FCC 01-209 www.fcc.gov Fox Entertainment Group, (2001). Annual Report www.fox.com Hoovers, (2001). Profile on News Corp. www.hoovers.com Hoovers, (2001). Profile on Fox Entertainment Group www.hoovers.com Hoovers, (2001). September 11 Consequences, www.hoovers.com, downloaded on 11/29/01. Hoovers, (2001). News Corporation Reports Double Digit Film Operating Income Growth in First Quarter, www.hoovers.com, downloaded on 11/29/01. News Corporation Inc. (2001). Annual Report www.newscorp.com News Corporation Inc. (2001). Executive Management www.newscorp.com/management/ The Star (2001). Murdoch says 50:50 chance to win Hughes, www.hoovers.com Valueline (2001). Profile on News Corp. www.valueline.com

Depreciation Methods

Depreciation Methods Depreciation is the accounting process of allocating the cost of tangible assets to expense in a systematic and rational manner to those periods expected to benefit from the use of the asset. Factors Involved in the Depreciation Process 1. What depreciable base is to be used for the asset? 2. What is the asset’s useful life? 3. What method of cost apportionment is best for the asset? Depreciable Base for the Asset The base established for depreciation is a function of two factors: the original cost, and the salvage or disposal value.Salvage value is the estimated amount that the company will receive when it sell the asset or removes it from service. It is the amount to which the company writes down or depreciates the asset during its useful life. Example: An asset is purchased for $10,000. The company believes that it has a salvage value of $1,000. Original cost $10,000 Less: Salvage value 1,000 Depreciation base$ 9,000 Methods of Depreciation The accounti ng profession requires that the depreciation method employed be â€Å"systematic and rational. † The following are examples of depreciation methods: 1. Activity method (units of use or production) . Straight-line method 3. Decreasing charge methods (accelerated): a. Sum-of-the-years’ digits b. Declining-balance method The following information will be used to illustrate each of the above methods: Stanley Coal Mines recently purchased an additional crane for digging purposes. Cost of crane$500,000 Estimated useful life5 years Estimated salvage value$50,000 Productive life in hours30,000 hours Activity Method The activity method (also called the variable-charge or units-of-production approach) assumes that depreciation is a function of use or productivity, instead of the passage of time.A company considers the life of the asset in terms of either the output if provides (units it produces), or an input measure such as number of hours it works. The crane Stanley purchased poses no particular depreciation problem. Stanley can measure the usage (hours) relatively easily. If Stanley uses the crane for 4,000 hours the first year, the depreciation charge is: (Cost less salvage value) X hours this year Total estimated hours ($500,000 – $50,000) X 4,000 30,000 = $60,000 Straight-Line MethodThe straight-line method considers depreciation a function of time rather than a function of usage. Companies widely use this method because of its simplicity. The straight-line procedure is often the most conceptually appropriate, too. Stanley computes the depreciation charge for the crane as follows: Cost less salvage Estimated service life $500,000-$50,000 5 =$90,000 Sum-of-the-Years’-Digits The sum-of-the-years’-digits method results in a decreasing depreciation charge based on a decreasing fraction of depreciable cost (original cost less salvage value).Each fraction uses the sum of the years as a denominator (5+4+3+2+1=15). The numerator is the n umber of years of estimated life remaining as of the beginning of the year. In this method, the numerator decreases year by year, and the denominator remains constant. At the end of the useful life, the balance remaining should equal the salvage value. YearDepreciation BaseRemaining life in yearsDepreciation FractionDepreciation ExpenseBook Value, End of Year 1$450,00055/15$150,000$350,000 2$450,00044/15$120,000$230,000 3$450,00033/15$90,000$140,000 4$450,00022/15$60,000$80,000 $450,00011/15$30,000$50,000 Totals:1515/15$450,000 For assets that have a long life span, the following formula can be used to determine the denominator: n(n+1) 2 For example, if an asset has a useful life of 51 years, you would calculate the denominator: 51(51+1) 2 =1,326 YearDepreciation BaseRemaining life in yearsDepreciation FractionDepreciation ExpenseBook Value, End of Year 1$450,0005151/1,326$17,308$482,692 2$450,0005050/1,326$16,968$465,724 3$450,0004949/1,326$16,629$449,095 4$450,0004848/1,326$16,290 $432,805 5$450,0004747/1,326$15,950$416,855 Etc†¦Declining-Balance Method The declining-balance method utilizes a depreciation rate (expressed as a percentage) that is some multiple of the straight-line method. For example, the double-declining rate for a 10-year asset is 20 percent (double the straight-line rate, which is 1/10 or 10 percent). Unlike other methods, the declining-balance method does not deduct the salvage value in computing the depreciation base. For example, if Stanley chose to use the double-declining-balance method, the crane would depreciate at twice the rate of the straight-line rate.See below: YearBook Value of Asset First YearRate on Declining Balance (a)Depreciation ExpenseBalance Accumulated DepreciationBook Value, End of Year 1$500,00040%$200,000$200,000$300,000 2$300,00040%$120,000$320,000$180,000 3$180,00040%$72,000$392,000$108,000 4$108,00040%$43,200$435,000$64,800 5$64,80040%$14,800 (b)$450,000$50,000 (a)Based on twice the straight-line rate of 20% ($90,000/$450,000 = 20%; 20% X 2 = 40%) (b)Limited to $14,800 because the book value should not be less than the salvage value.

A Research On Nutrition And Weight Loss Essay -- Nutrition, Obesity, Die

We know that just because something sounds good, it doesn 't mean that it is. This New You in 22 review will take a look at his program and what it offers, as well as whether or not it will be worth your time. What Is New You in 22? Just as it sounds, it 's about creating a new you in 22 days. Not only will you experience physical changes on the outside, but you will find yourself having more energy and even slow down aging in those 22 days as well. This program is meant for people whose metabolism has crashed and burned and won 't help them burn off the fat that used to come off so easily. In fact, anyone who has a hard time maintaining weight, is experiencing mental fogginess, has stress and anxiety, feels tired all the time, has body aches and pains, and has nasal issues that won 't go away, will benefit from the New You in 22 according to Jonny. Your metabolism is responsible for how much fat you burn off or put on, but it also plays a big part in your overall health and energy. If it is slowed down, you will feel slowed down both physically and mentally. It is a fat loss program that helps you boost your metabolism in just 22 days. It helps you get rid of cravings, burn off fat, stabilize your appetite, improve your mood, and get rid of brain fog, among many other things. I rsion only, or you can get a digital and printed version. In either case, you will get instant access to the digital information so that you can get started tomorrow if you want. The Guarantee There is a 60-day money back guarantee with this 22-day program. In other words, try it out and if you don 't experience the results you expect, then ask for your full refund - no questions asked. Will This Really Work? If you are going to listen to someone for weight loss and nutrition advice, then Jonny Bowden is the guy. His face and information is all over the Internet, making him one of the best-known experts on living a healthy life, and he wouldn 't create a program that doesn 't live up to his name. The chances are very good that you will experience the results you are looking for within 22 days, and that those results will carry forward for the rest of your life.

Constitution High School Essay Example | Topics and Well Written Essays - 1000 words

Constitution High School - Essay Example a) The overall structure of the executive body is that of a lobbying group, that also acts as an associational interest group. There must be a broad representation of all student clubs, and so each of the members will run according to their party group. This will require each candidate to submit his or her name and their class. b) All members will be voted in with a plurality vote, wherein each candidate must submit his party name and not first name to avoid any discrimination. A photograph of each student will also be included in the ballot. c) Each member of the Legislative branch must adhere to his or her duties, which include: - Putting forth issues of the community and translating them to the executive branch; - Proposing prospective groups for funding from student government, or the university; and - Oversee the finances of the student groups d) all members of the legislative branch will be voted in the second semester of the year to ensure comprehensive understanding of student life and government structure. ARTICLE IV - OFFICE REMOVAL AND REPLACEMENTS a) Any member of office may be brought up on Impeachment charges. If charges are made by another member, a separate judicial court session will be held a week from the date of accusation. b) The judicial court will consist of a prosecutor, defendant, and a judge. Advisors are advised to sit second chair to the prosecutor and defense attorney, who may also be an advisor. c) The judge for the organization will be selected prior to the allegation by a majority vote of the members. d) If the member is deemed guilty, they will then be removed and replaced by the second runner up during elections. ARTICLE V - CONSTITUTIONAL AMENDMENTS a) Constitutional Amendments may be added to the Constitution on need basis by the president or vice-president in the president's

Milionaire comparision Essay Example | Topics and Well Written Essays - 1000 words

Milionaire comparision - Essay Example China’s number of millionaires is currently at 1.12 million in 2013 and is expected to rise to 2.1 million in 2018 thus representing an 88% increase. In the last one year, China experienced 90, 000 rising millionaires making her projections for 2018 to be doubled. This essay compares and analyses factors catapulting China and India’s rapid growth in the number of millionaires. China, India and Singapore recorded the highest increase in millionaires in 2011 and the Asia-Pacific experienced a rise in wealth while Western Europe and America encountered a decline in wealth. The millionaire households in China rose by16 percentage and India saw a 21% increase, which represented 1.43 million and 162, 000 respectively. Nevertheless, the millionaires households in America decreased by 129, 000. US seems to lose the number of millionaires to China and India where the percentage increase in overall private wealth in both China and India’s overall private wealth has been at tributed to their strong GDP (Datamonitor Financial, 2012). The two emerging markets tend to drive the future growth of wealth as the US, Western Europe and Japan loses wealth prompting the financial services and conventional wealth managers to look to the new markets for profit maximization. Banks in India and China are preparing themselves to capture their new millionaire clients. Although the United States and Japan rank first and second as the countries with a huge number of millionaires, the rapid growth in millionaires is only evident in India and China (New, 2012). According to Hess (2013), mature markets such as US, Japan and Western Europe experience either slow or negative growth while emerging markets such as China and India ride a wave of very strong momentum steering their people to greater heights. The china’s wealthy people rise at a higher rate compared to other countries experiencing financial crisis recovery. Rapid economic growth experienced in China, India and other emerging markets has largely contributed to the number of millionaires globally. The millionaires in these countries boast cash, stock and cash assets of more than $1 million and the two countries are likely to experience the rapid growth because of their many listed companies. The robust exports linked with both China and India enhanced their GDP growth making the rate triple the once for developed countries. Recent economic growth in both China and India that has resulted to a huge number of millionaires is based on exports mostly to Europe and North America. Upon joining World Trade Organization, China’s export has largely increased making her value of exports between 2006 and 2013 to double from $1.1 trillion to $2.3 trillion. Similarly, India is further expected to experience a growth in exports from $191 billion to $350 billion within the same period (Hess, 2013). The high rate of domestic demand in both countries due to their high population is likely to enh ance their respective economic expansion thus leading to emergence of more millionaires. The decrease in demand from Western Europe and the US because of the financial crisis and the Eurozone’s debt challenges can therefore stall the growth of China’s economy. Interestingly, the impressive economic growth in India and China is unequal making their millionaires to represent 3.0% of the larger population. Rate of unequal