Case 4.4 Waste Management

Waste Management, Inc. Waste Management, Inc. , incorporated in 1968, had become a leader in the industry of waste management services ranging from industrial operations to curbside collection. This company had become synonymous with many different kinds of disposal services that allowed for the company to grow and grow with a solid base over the course of twenty-eight years. Finally in 1996, the company reported total assets of almost $20 billion with net income close to $200 million. However, even with this growth and solid base, the company was feeling competitive pressures and net income was on the decline.Everyone from local to national collection companies were now charging less to the customer and this was taking a major toll on the gross margins and net income of Waste Management. With a balance sheet that was heavily based on equipment and land Waste Management was beginning to see that the only way to keep the company growing was to use depreciation and salvage value manipu lation to lower the direct hits of these expenses. Now that the issues were becoming large enough to notice, the SEC began stepping in to investigate the operations, assets and accounting methods that were being used.Due to this, the company issued a release saying they would be amending and restating certain periods of their reporting and issuing new form 10-Ks and 10-Qs. Once the restatement occurred and a $3. 5 billion dollar loss was found the company’s incorrect accounting processes were finally exposed. This resulted in net losses for the company as well as debt and equity ratings dropping precipitously. The SEC now launched a formal investigation into the accounting processes and found many misstatements from avoiding depreciation to improper capitalization and failure to accrue to proper liabilities.Many techniques were used and the end result was that many of the management team’s members were named as defendants in this case as it was seen that they were the ones who were primarily responsible for the execution of this fraud. Through the investigation, it was found that Arthur Andersen helped to keep the fraud going by not demanding that PAJEs be undertaken to correct errors. Instead, Arthur Andersen, who viewed Waste Management as their â€Å"jewel† client, entered into an agreement with Waste Mangement to fix these errors in coming years.This constituted an agreement to cover up fraud and Andersen was then sued for civil fraud by the SEC that carried a heavy price. The company stock plunged and Arthur Andersen’s partners were fined and banned from the auditing of public companies for up to five years. This overall lack of internal control and greed in the company ultimately led to a downfall for many partners and managing members at both Andersen and Waste Management. Case Questions: 1) Three conditions are often present when fraud exists.First, management or employees have an incentive or are under pressure, which provi des them a reason to commit the fraud act. Second, circumstances exist – for example, absent or ineffective internal controls or the ability for management to override controls – that provide an opportunity for the fraud to be perpetrated. Third, those involved are able to rationalize the fraud as being consistent with their personal code of ethics. Some individuals possess an attitude, character, or set of ethical values that allows them to knowingly commit a fraudulent act.Using hindsight, identify factors present at Waste Management that are indicative of each of the three fraud conditions: incentives, opportunities, and attitudes. Incentive Management teams of publicly traded companies are always under enormous pressure from shareholders to meet and exceed earnings expectations. Many shareholders view year over year growth, and performance vs. earnings as a sign of health of the company they’ve invested in. The pressure on management teams is compounded when poor results could easily spell the end of an executive’s tenure with the company.In the case of Waste Management during the 1990’s, founder & CEO Dean Buntrock created and nurtured an entire culture of fraud. While Waste Management continued to produce false numbers to the public, Buntrock used company money to make charitable contributions and present himself as a decent, ethical person (Securities and Exchange Commission: 2002). He received large amounts of money while he perpetrated the fraud, and his executive team was incentivized for their role as well. Opportunity At the time the fraud existed, internal controls were almost non-existent.The management team employed a number of improper accounting practices that did not comply with GAAP. As stated earlier, CEO Dean Buntrock not only allowed internal controls to be bypassed, he encouraged them to be ignored and shaped accounting policy with the sole purpose of making the targeted earnings numbers every year. The auditing firm, Arthur Andersen, LLP, was also shown to have complicity. The partners at Andersen knew that the company’s policies were not compliant so they provided Waste Management with proposed adjusting entries to their books.Waste Management refused to make the adjustments so Andersen had Waste Management sign off on a list of 32 steps the company must do to change its practices. The document legally constituted an agreement among the two parties and clearly shows that Andersen was aware of fraud that Waste Management had covered up in the past. Furthermore, Andersen did not stand up to the company and continued to issue unqualified audit opinions. Andersen was motivated by greed, as they billed Waste Management over $25M in seven years.Additionally, until 1997, Waste Management had never hired a CFO or CAO that had not worked for Andersen in the past. During the 1990’s when the fraud occurred, 14 former Andersen employees worked for Waste Management, many in key positions. The circumstances existed so that an outsider, who could wind up being a whistleblower, seemed to not be allowed into the inner circle where the fraud was happening. Waste Management could be ensured by the high fees it was paying Andersen that the company would have a steady stream of potential finance/accounting employees who understood the fraud and how to continue to perpetrate it.Attitude One’s attitude and ethical beliefs shape how they perform under circumstances in life. The two main reasons why people choose to act unethically, like in the Waste Management case, are that their standards are different than society as a whole, or the person chooses to act in a selfish manner (Securities and Exchange Commission: 2002). Greed, praise and recognition can all be motivating factors for someone to behave unethically. Waste Management’s Dean Buntrock possessed a set of ethics (or lack thereof) that allowed him to commit fraud.He was clearly motivated by gre ed, was selfish, and had no issues with defrauding investors. He acquired almost $17M in personal wealth while investors lost billions of dollars of value in their shares of Waste Management. He also perhaps rationalized his behavior. He may have calculated that his odds of being detected were very low since he knew that the auditors at Arthur Andersen would issue an unqualified audit opinion regardless of how creative he got with his accounting fraud. The auditors also clearly acted unethically in their dealings with Waste Management.Even though they were aware that fraud was occurring, as stated above, they continued to issue unqualified audit opinion and bend to the will of Waste Management executives. The auditors never stood up to the company, most likely out of fear of losing a client that paid them almost $25M a year in fees. Additionally, Waste Management had a track record of hiring Andersen auditors into high level position, so they were acting out of greed as well. 2) Rev iew Waste Management’s Consolidated Balance Sheet as of December 31, 1996.Identify accounts whose balances were likely based on significant management estimation techniques. Describe the reasons why estimates were required for each of the accounts identified. Waste Management had several fixed/long-term asset accounts whose balances were based on estimation techniques. On the December 31, 1996 balance sheet, the Vehicles and equipment account is grossly overstated. The company â€Å"avoided depreciation expenses on their garbage trucks by both assigning unsupported and inflated salvage values and extending their useful lives† (Arens: 2011).In other words, company management inflated their â€Å"vehicles and equipment† account through estimation. With regards to the Land – disposal sites account, Waste Management also assigned random salvage values for many assets that had no salvage values at all. Estimates are required because there is no way to determin e exactly what the resell value of a truck is 10 years from now. The accounting team must use their best judgment to estimate values based on past and present data.The realm of value estimation is a significant gray area for accountants where fraud can be committed. To that end, accumulated depreciation is another account that is grossly understated on the December 31, 1996 balance sheet. Accountants must estimate depreciation values based on a particular method of depreciation, but they can lessen the effect of depreciation on the balance sheet by artificially increasing the salvage value of assets and/or by lengthening the estimated useful life of an asset.Again, estimates are required because an accountant’s assumption is necessary to determine the expected values because of the impossibility of predicting what will happen in the future. 3. Describe why accounts involving significant management estimation are generally viewed as inherently risky. a. When dealing with manag ement estimations, many different factors always come into play which are not always easily understandable. Management has the ability to use many different models, industry standards, and internally developed methods in order to properly or improperly state the item under estimation.For this reason, auditors must always have some kind of backup to show both consistency and a clear line of numbers, methods and evaluations in order to arrive at an ending number of estimation. However, as easy as this may be to say, in the presence of fraud, numbers can be manipulated and tweaked to arrive at certain assumptions that can give the appearance of consistency while still not having a proper base. Along with this, auditors, while well versed and understanding of industries, do not have the time nor the knowledge to properly assess every single factor that may be used in the valuation of management estimates.Management estimation techniques vary far and wide and when dealing with a client t hat uses techniques not akin to the industry, it can be very hard to truly feel comfortable about the numbers used and the valuations presented. 4. Review Auditing Standards (AU) Section 342, Auditing Accounting Estimates, and describe the auditor’s responsibilities for examining management-generated estimates. Also, AU Section 342 provides guidance to assist auditors in examining estimates. Describe the techniques commonly used by auditors to evaluate the reasonableness of management’s estimates. b.According to the PCAOB, an auditor is responsible for considering all of the subjective and objective factors that go into the management estimates. The auditor must obtain sufficient evidence to reasonable agree that: i. All estimates that could be material to the notes have been developed ii. They are reasonable given the circumstances iii. The estimates are presented in conformity with applicable accounting principles and are properly disclosed (PCAOB US: 1989). There ar e, of course, a plethora of guidelines offered to the auditors relating to this inherently risky field of auditing management estimates.However, these guidelines not only help to evaluate the actual estimates and their uses, but also help to look into the reasonability of the estimates and the need for them. In order to assess the reasonability of an estimate an auditor must have the information from prior years present and available so as to compare both the inputs and the outputs of all the estimates (PCAOB US: 1989). This allows for the auditor to see if there are any divergences or deviations from the usual historical outputs of the estimates.This also can give the auditor the ability to see what inputs are able to be manipulated or subject to potential bias. This insight can prove very necessary when so many numbers and formulas are involved. Along with evaluating the historical inputs/outputs and the processes used, the auditor should have their own view on the estimates so as to agree upon the use of the estimate. In order to truly have one’s own view, the past is of course necessary but the future transactions and events can help to further enhance the reasonability of the estimate (or malign the use of it, if such be the case).These subsequent events can help an auditor to decide if there should be other key factors used or if changes in the business and industry should become significant in the assumptions. The last idea, and offering, by these auditing standards is to hire a specialist (PCAOB US: 1989). Of course this is something should be done if, after review, the auditor determines that they need further expertise or analysis on the assumptions. At times, an industry can be some complex and calculations so convoluted that an auditor has no choice but to hire an industry professional to liaise with regarding the factors and computations. . The Waste Management fraud primarily centered on inappropriate estimates of salvage values and useful lives for property and equipment. Describe techniques Andersen auditors could have used to assess the reasonableness of those estimates used to create Waste Management’s financial statements. Arthur Andersen auditors failed miserably on the audit inspection of waste management from 1992-1997. The auditors failed to realize the inappropriate salvage estimates and depreciation values of Waste Management’s Equipment.The first thing the auditors should have done was to check the accuracy of the estimates. The auditors should have checked every year in order to make sure the estimates were accurate. By checking the accuracy of the estimates Andersen Auditors would have seen in 1996 that Waste Management changed the salvage values of their equipment. Waste Management was allowed to change the salvage value, but the auditors should have made sure that it was a reasonable change, which is it was not. Next, the auditors would have been able to check these estimates on industry and governmental standards.By checking against the governmental and industry standards the auditors would have once again been able to see that the salvage value was unreasonable. Another technique Andersen could have used was to get an independent estimate. By getting an independent estimate the auditors would have been able to compare the independent estimate to the salvage value that Waste Management was applying to their equipment. These numbers would have been able to be compared and evaluated to each other in order to figure out the proper salvage amount to use. The auditor is responsible for checking these numbers and they did not do their job.Also, the auditors could have done some more research on the items being salvaged and applied the fair value to each one of the items. This way the auditors would be able to back up these different estimates when comparing them to the estimates given by Waste Management. Andersen should have also seen red flags when these new salvage n umbers were given. They were not historically accurate and were completely off from prior years. Part of the reason Andersen did not do anything was due to former Andersen auditors working for Waste Management. Andersen needs to be independent and they were not.By not being independent from Waste Management it caused them to â€Å"overlook† an estimate that caused stock holders to lose billions of dollars. 6. Several of the Waste Management accounting personnel were formerly employed by the company’s auditor, Arthur Andersen. What are the risks associated with allowing former auditors to work for a client in key accounting positions? Research Section 206 of the Sarbanes? Oxley Act of 2002 and provide a brief summary of the restrictions related to the ability of a public company to hire accounting personnel who were formerly employed by the company’s audit firm.As stated in the case several of Waste Management accounting personnel use to work for Arthur Andersen as an auditors. This led to many problems for both companies. The auditor needs to remain independent because of two main reasons. One is to make sure the audit is done unbiased and to make sure the client is unable to trick the auditor. If the client knows what the auditor is looking for than they can manipulate the numbers in order to trick the auditor from catching these manipulations. The main risk with this practice is fraud. This can take place by the auditor or the client.If the client use to work for the auditor, just like in this place, the client will know exactly how the audits are done and exactly what the auditor is looking for. This can cause a client to post fraudulent numbers to numerous documents. The client will be able to insert these fraudulent numbers in to documents that the auditor will not look at. Also, the auditor can cook the books as well so to speak. The auditor cannot check all of the documents due to being friends with the client, due to some of the fo rmer auditors working for the client now.Also, the auditor can get a little lazy when it comes to doing the audit. What is meant by this is that the auditor might not do such a thorough job due to the fact that that a former auditor is doing the financial statements and they know exactly how to do them. According to the Sarbanes-Oxley Act of 2002 Section 206, the SEC has placed restrictions on former auditors working for a public company as accounting personnel. The section talks about conflict of interest in regards to this issue. SEC. 206. CONFLICTS OF INTEREST.Section 10A of the Securities Exchange Act of 1934 (15 U. S. C. 78j–1), as amended by this Act, is amended by adding at the end the following: ‘‘(l) CONFLICTS OF INTEREST. —It shall be unlawful for a registered public accounting firm to perform for an issuer any audit service required by this title, if a chief executive officer, controller, chief financial officer, chief accounting officer, or any person serving in an equivalent position for the issuer, was employed by that registered independent public accounting firm and participated in H. R. 3763—31 ny capacity in the audit of that issuer during the 1-year period preceding the date of the initiation of the audit. ’’ (Sarbanes Oxley: 2002). Basically, section 206 states, that any public accounting firm cannot hire a CEO, Controller, CFO, Chief Accounting Officer that was a formerly employed by the auditor that is performing the audit for that publically traded company. That is the only restriction that is placed by section 206. As you can see on this case there are many risks and problems that are involved when a public traded company has formed audit members on their staff. 7.Discuss possible reasons why the Andersen partners allegedly allowed Waste Management executives to avoid recording the identified accounting errors. How could accounting firms ensure that auditors do not succumb to similar pressu res on other audit engagements? Waste Management was a â€Å"crown jewel† client, and Arthur Andersen had been their auditor since before the company went public in 1971. Andersen and Waste Management had a long history of working together. Management officials at Waste Management were previous employees of Andersen and Anderson did not want to lose one of their most important clients.From 1991 to 1997, Anderson received $7. 5 million in audit fees and $11. 8 million in fees for tax, attest work, regulatory issues, and consulting services. In addition, $6 million was billed to Waste Management’s headquarters for non-audit fees. In order to please the client, and avoid losing them, certain fraudulent events occurred. Andersen advised Management to make â€Å"Proposed Adjusting Journal Entries (PAJEs) to adjust expense and income accounts in the financial statements. Management failed to comply with Andersen’s advice and they entered into a secret agreement to wr ite off the errors.The agreement â€Å"Summary of Action Steps,† contained incorrect accounting practices and listed 32 steps that the company must perform to correct the practices. It would allow Waste Management to cover up past frauds by committing future frauds. Andersen was hoping that this would benefit the company. However, the auditors did seem to ignore that refused to correct known accounting misstatements. Company auditors and management had personal relationships, so management was able to pressure auditors. Management knew what they were doing because they were former auditors.Forcing the changes in accounting practices could result in an end to Waste Management as a company and Andersen would lose that income. In order to avoid these situations, Sarbanes Oxley introduced Section 203 that helps with issues that a firm might face. Section 203 includes partner rotation, which forces the audit partner on the assignment to rotate after 5 years. However, the rule has an exception to partner rotation for firms with no more than five public company audit clients and fewer than ten partners. These rules apply as of the first day of a company's first fiscal year beginning after May 6, 2003, with time served as the lead and concurring partners prior to May 6, 2003 being included in determining rotation periods† (Alali ; Romero: 2012). Audit firms can also give employee training on ethics so they are aware of company values. Bibliography Alali, F. , ; Romero, S. (2012). Auditor changes before, during, and post-section 203 of sarbanes-oxley act. Internal Auditing, 27(1), 25-30. Retrieved from http://bluehawk. monmouth. edu:2048/? url=/docview/1009737322? accountid=12532Arens, Elder, Beasley, Auditing And Assurance Services: An Integrated Approach- 14th Edition. Chapter 4. Congress, United States. Sarbanes Oxley 2002. 2002. fl1. findlaw. com/news. findlaw. com/cnn/†¦ /sarbanesoxley072302. pdf (accessed March 2, 2013). PCAOB US. 1989. â€Å"P CAOB AU Section 342 Auditing Accounting Estimates. † PCAOB. Accessed March 2, 2013. http://pcaobus. org/Standards/Auditing/Pages/AU342. aspx. Securities and Exchange Commission, Waste Management Founder, Five Other Former Top Officers Sued for Massive Fraud, http://www. sec. gov/news/headlines/wastemgmt6. htm (March 2002).

Research Analysis on No Child Left Behind

Rhetorical Analysis of â€Å"Evaluating ‘No Child Left Behind’† When reading the 2007 article by education expert Linda Darling- Hammond called â€Å"Evaluating ‘No Child Left Behind’†, Darling- Hammond goes into depth and criticizes just how much the No Child Left Behind Act (NCLB) accomplished in five years. The author begins by using a neutral and agreeable tone with how the law was supposed to be â€Å"a victory for American children†. She also genuinely acknowledges that the notoriously known NCLB Act initially brought high hopes for us Americans to have a sophisticated and reformed education system for our children.But almost just as fast as she agrees that the law was intended for good, she gets right to her point that she opposes the law by using much of logos and connects pathos and ethos along the lines. Darling-Hammond uses logos very strongly and acknowledges that the NCLB Act was created to help American children succeed edu cationally. She doesn’t fully bash the law without implementing clear ideas and alternatives as to what the government should consider to do next in order to effectively make our education system stronger after her criticisms’. She asks the rhetorical question, â€Å"What happened? Not only does this tell us that she was baffled with the outcome of what came to be of this law, but that clearly, it took a complete180 degree turn from what she and others thought it would. She says, â€Å" †¦high-profile Republicans are expressing their disenchantment with the NCLB, while many newly elected democrats are seeking a major overhaul as well. † She purposely wrote this to show that many people- regardless of political party- are not in favor of this law. What Darling- Hammond claims is that the NCLB Act backfired and left more negative effects schools than positive ones.She expresses that â€Å"†¦ the law has been protested by more than twenty states and doz ens of school districts that have voted to resist specific provisions. † Clearly stating that despite all these protests, it is still continuing without true positive outcomes or benefits. She is very firm throughout the article and believes that the government must make and appeals to the reader in trying to bring reasonable and realistic options because the â€Å"100 percent proficiency by 2014† is in no way realistic in her opinion and that â€Å"85 to 99 percent† of schools are considered to be failing†. Paying off â€Å"Educational debt† is ultimately the answer in which Darling-Hammond believes will begin to assure that schools are be more â€Å"productive† because there would be more curriculums to be offered and better programs for students. She also believes in â€Å"equal funds† going into all schools-most especially for the schools that need it the most, taking this idea from â€Å"achieving countries† that have succes sfully done this. Throughout the article, Darling- Hammond also expresses pathos, but she does so while still being logical and reasonable.She openly admits the â€Å"NCLB contains some major breakthroughs† and that â€Å"flagging differences in student performance by race and class, it shines a spotlight on longstanding inequalities and could trigger attention to the needs of students neglected in many schools. † By saying this and shortly expressing her short-lived praise for the act, she is absolutely appealing to the reader’s emotion and even giving some of her personal feelings on the law. One of the harsh truths that Darling- Hammond expresses very openly is that the ultimately to her, the real problem in education is racial inequality.She lists and focuses on what â€Å"minority† students do not have that their â€Å"suburban† counterparts do. She writes that in more than twenty- five states, â€Å"low- income students of color â€Å" go t o a school with â€Å"crumbling facilities, overcrowded classrooms, out-of-date textbooks, no science labs, no art or music courses and a revolving door of untrained teachers† all while other â€Å"white† students have all those resources to a point where it is almost unnecessary due to their â€Å"fewer needs†.She reminds us about the unequal and unfair distribution of resources for students of color in America and that unfortunately, problems with race and poverty are still an issue. Darling- Hammond additionally gives off a great understanding of the NCLB Act, as she is a person in the educational field, which makes her extremely credible for talking about this topic. She has also been following the act since President George Bush approved it. She also writes very formally and articulately, but the reader is able to follow along with her points and her suggestions on repealing the act.She also makes a valid point that more money was being spent on the war wit h Iraq than on education. Of course, spending it on education would have been more beneficial for our students because about â€Å"40,00 teachers† would have been able to be â€Å"qualified† due to properly teach students due to â€Å"high-quality preparation. Darling-Hammond’s article on the No Child Left Behind Act shows logic, pathos, and ethos. She is, however, a writer that understands the opposing view and thinks very reasonably and looks at the bigger picture throughout her article.She wants to make it absolutely definite that the reader understands that if we continue with the act the way that we are, â€Å"Students will not learn at higher levels without the benefit of good teaching, a strong curriculum and adequate resources. † It is no secret that our children are struggling with the educational system and something needs to be done about it. Work Cited Darling- Hammond, Linda. â€Å"Evaluating ‘No Child Left Behind' | The Nation. † The Nation 21 May 2007: 1-5. CQ Researcher. Web. 12 Mar. 2013.

Metropolitan museum of arts Essay Example | Topics and Well Written Essays - 1000 words

Metropolitan museum of arts - Essay Example sed as a central place, where these materials can be easily accessed by the general public for purposes of research and information up date (Backhaus, 11). This discussion will focus on an analysis of a piece of art work stored in the Metropolitan Museum, in New York the United States of America. The Metropolitan Museum is located in New York City in the United States of America. It is considered among the largest museums in the world, with a collection of over two million various pieces of art work from different parts of the world. The main building of the museum located along Manhattan is considered one of the world’s largest sources of art galleries. It is separated into seventeen departments, which each department exhibiting a specific piece of art work. The exterior part of the museum was constructed using stones, which are painted using a white water-based paint. In the interior one is welcomed by white clean shelves of various sizes and shapes, exhibiting various forms of art works. From a personal perspective, the museum has a feature similar to the buildings that were constructed in the early and the late 1800’s such as the White House, which was constructed using large stones and beatified using a whitish water-based paint. This form is building design could have been chosen as a result of the fact that such designs dominated the early and late 1800’s: Such designs were preferred by French architectures, who were considered the best architectures in the world during that period. The museum features cultures from various parts of the world for instance; ancient Egyptian art works African art, Asian, European, American art work as well as a collection of modern art works that have been considered eclectic. Pieces of art work are organized in accordance to their cultures and timeline, in a manner that makes it easy for viewers to identify and understand their significance. The arrangement of the art works within the Museum as well as its

Curfews for teenagers Essay Example | Topics and Well Written Essays - 250 words

Curfews for teenagers - Essay Example Many of the drug abuse activities such as drinking of alcohol and smoking of cigarettes occur during the night at concerts and night clubs. Restriction of teenagers from staying out late at night prevents them from getting access into such areas. This curfew also helps in reducing the occurrences of premarital sex. Many of the premarital sexual activities between the teens occur during the night on events such as prom nights. The premarital sex between the teens has many consequences such as unwanted pregnancies, transmission of sexually infected diseases and emotional distress. Some people argue that curfew for teens are inappropriate and should not be practiced. Not imposing curfew for teens enables teenagers to be responsible for their actions and decision right from a tender age. This equips teenagers with the right behavior and qualities to put through their college lives. Despite this argument, it is still evident that curfew for teens is essential since it safeguards the teenagers who are not able to make right decisions for themselves due to their tender age (Thompson,

Marketing Plan for a Camera Phone Essay Example | Topics and Well Written Essays - 1500 words - 13

Marketing Plan for a Camera Phone - Essay Example From this study it is clear that the goals of the company are to launch the camera phone and capture at least 10% of the market in the first year. This means that the company has to ensure that the marketing is targeted and focused on the particular segments it wants the phone to be sold. Culture: The Company has a laissez faire and democratic culture in its dealings with employees and other stakeholders. This is part of the strategy to ensure that it remains in touch with the latest trends in the telecom space by aligning itself to the needs of the youth. Strengths: Apart from the technical strengths of the mobile phone and its perceived edge over the others in the design and features of the camera phone, the company also focuses on the emerging trends and tries to be ahead of the curve. According to the essay the Company hopes to gain market share proportional to the products that it is marketing and feels that this can be done. One of the aims of this marketing plan is to detail w ays in which the company can gain market share by targeting the customer segments appropriately. Market position: The Company does not have the market leader position but hopes to gain market share by launching its products into the market targeted at a particular segment and aimed at the brand conscious and style conscious customers. By this way, the company hopes to do well in the chosen market segments. Strengths: The competitors are well established and have a presence that is formidable. Only by playing to the company’s strengths in terms of features and style can the company hope to gain market share. Market shares: The market shares of the competitors are formidable but the company can rely on the product doing well in the market place. This is a sure way of ensuring that the market share is gained in a short time.

A Critique of Religious Exclusivism Essay Example | Topics and Well Written Essays - 1250 words

A Critique of Religious Exclusivism - Essay Example For that matter, the other groups are insignificant and wrong due to the fact that they are outside the belief that the group has (Robinson). The main view of the group can be considered as one of the main reasons for the criticisms targeted to the group and the beliefs that it has. This can be attributed to the fact that application of such strict beliefs can be considered as a failure to have an open understanding of the group on other religious groups. The influence and input of other groups, components of the surroundings and ideas can be considered essential in the development of a concept, belief and principle. Thus, included in the reasons for criticisms toward exclusivism is the disregard to the benefits and advantages that are contributed by other groups with different beliefs. The main essence of believing in religion is the concept of salvation. Exclusivism is the belief that the particular group, are the people who can achieve the salvation on the basis of the religion that they are practicing. One of the common examples of exlusivism, or particularism as preferred by others to be called, is the Christian exclusivism wherein people that do not know Christ will not have salvation (Robinson). Such view can be noted that exclusivism can be considered as an ignorant point of view since it only presents the opinion of a particular group. In addition, it fails to consider the different aspects that related to the answering of the spiritual needs of the people. Exlusivism then can be translated at some point of oppression because the people that are part of such religious groups have real life friends and families that they interact with. Exclusivism can be a hindrance specifically in a rapidly changing world wherein adaptation and not exclusion is the answer. May it be religion, or any concept for that matter, openness is important to be able to grow, develop and be effective. Thus,

Auditing and why independence is important Essay

Auditing and why independence is important - Essay Example Carey, P. & Simnett, R. (2001) stated that in auditing theory and practice, independence is a matter of intellectual honesty. Auditors are expected to be unbiased and impartial with respect to financial statements and other information they audit. They are expected to be fair to both the companies and executives who issue financial information and to the outside persons who use it. Independence is important enough to stand alone as a concept. The public will grant social recognition of professional status to auditors only so long as they are perceived to be independent. The notion of individual independence is more specific in the conduct of each audit engagements. In essence, an individual auditor must not subordinate his or her judgment to others and must stay away from influences that might bias judgment.3 Loebbecke, A. (2000) argued that actual threats have to be considered on the situations that might be perceived as threats by a reasonable and informed observer. Where such threats exist, the auditor must put in place safeguards that eliminate them or reduce them to clearly insignificant levels. Safeguards apply at three levels: safeguards in the work environment, safeguards that increase the risk of detection, and specific safeguards to deal with particular cases. If he is unable to implement fully adequate safeguards, the auditor must not carry out the work. Gupta, K., (2006) mentioned that ethical guidance based on this framework includes examples of threats that might arise and appropriate safeguards to deal with them. But these are illustrative and not comprehensive. The auditor must be able to demonstrate that, in the particular circumstances under consideration, the fundamental principles had in fact been observed - a far more rigorous test of compliance. The framework approach is considered the most appropriate to adopt as: The aim of good guidance should be proactive, i.e. to require the auditor to identify and address risks, not merely passively obeying the letter of the code. A set of principles supported by reasoned guidance avoids the argument that any course of conduct that is not specifically prohibited is permissible, encouraging a search for ways around the rules. The approach recognizes the reality that the auditor is not wholly independent of his client, but that the threats to independence must be managed to clearly insignificant levels. Although the basic principles of auditor independence are straightforward they may need to be applied to an almost infinite number of circumstances. The detailed rules-based approach will have to be incomprehensibly complex to cope with all possible circumstances, or will be a blunt instrument, sometimes imposing inappropriate solutions or completely missing the problem. The business environment and structure of audit firms and their clients are continually evolving particularly in an international context. Clients and shareholders are generally allowed to choose the auditors to perform other work if they believe it is most efficient for them to do so, where adequate safeguards can be put in place. Nonetheless, where adequate s

Philosophy- Business Ethics Essay Example | Topics and Well Written Essays - 500 words

Philosophy- Business Ethics - Essay Example of the business is to protect the environment than a business shall be held accountable on ethical, moral as well as legal grounds however, if this is not the case, an organization shall only be bound by the violation of laws rather than violation of its implicit responsibilities. The businesses are only responsible to the extent of the law and it is the responsibility of an organization to follow the law in its true spirit however, externalities can result into significant deviation in the roles and responsibilities of the organizations. Bowie’s arguments are convincing due to the fact that there is an implicit difference between a consumer and a citizen. Segoff’s distinction between a consumer and a citizen is largely based on the ability of each to derive the value and is correlated with the preferences of both. However, Bowie does not make this distinction because a consumer and a citizen are considered as both the mass consumers of the goods and services produced by the organization. The distinction made by Segoff is firmly based on the assumption that an individual at one point in time can be a consumer as well as a supporter of the environment also. This potentially overlapping role of a consumer and a citizen therefore results into the i nstitutional change which can ultimately force the authorities and government to pass laws which can protect the environment and redefine the role of organization with the external world. Bowie’s ideas are however slightly different because of the distinction made between the legal and ethical responsibilities of the organization. Further, Bowie also attempted to define the role of organization from the perspective of its core competencies i.e. if an organization’s role is to protect the environment than any violations shall be the moral as well as legal responsibility of the organization however, if it is not than an organization shall not morally and ethically held accountable. What is also important to consider

Ethics Case Essay Example | Topics and Well Written Essays - 250 words

Ethics Case - Essay Example Since I discovered his cover-up three years down the line after the original STS occurred, the only solution would be to request for review of all the six OSHA recordable events to authenticate whether they were real tests. This could be achieved by following up the issue by inquiring from the doctor who carried out the audiometric tests.After confirming that they were real results that Frank received from the hearing van’s audiometric clinical examinations, I would record all the six losses as OSHA recordable hearing cases. The next thing would be to report the issue to the top-management with recommendations as well as possible solutions. Among the recommendations would be requesting the company to summon the six individuals by asking them participate in fresh hearing tests. Private or company doctors could perform an unbiased test to determine work-relatedness of their hearing losses.Performing these tests would show that Frank’s actions were inappropriate, unethical and inconsistent with the company’s regulations regarding hearing threshold shifts. Even though Frank was certain that the hearing losses of his friends were not work related, they were never tested by audiologists to clear the doubt. Whichever the case, it was necessary that Frank records the hearing loss cases because they met OSHA recordable threshold shifts. The company would not have achieved its injury target if the tests would be confirmed to be work related. Frank would be punished for failing to record the results.

The New York Public schools and New York Charter Schools Dissertation

The New York Public schools and New York Charter Schools - Dissertation Example Although there is a perception (generally) that the education in charter schools are vastly different than those in public schools, this research seeks to understand whether there is a difference in New York schools. The research will also review the beginning aspects of charter schools and draw a comparison of the positives and negatives of both charter and public schools.... As an example, California initiated a law to in 1992, showed how their charter schools would stay accountable. The Charter School Act for New York State passed in December 1998, allowed for the production of independent self–governing public schools. The law essentially stated that New York charter schools would meet state standards, regent’s requirements, state, health, safety, civil rights, and student assessments just like all public schools (About Charter Schools, 2010). Positive and Negative Aspects of Charter Schools vs. Public Schools One of the largest differences between public and charte r schools is that children are allowed to go to charter schools regardless of where they live. This gives parents and students a choice of schools and they are able to choose a school that they feel is the best choice for their children. In some ways, this action creates a need for public schools to develop more challenging The public schools limit their students to those who live within their specific districts. According to the National Conference of State Legislatures (NCSL) (2011) many charter schools will help to reform public schools but they are limited in scope so they will not be able to foster and entire public school system (NCSL, 2011). When looking at the positive and negative aspects of public schools, it is important to point out that public schools are free and the provide transportation to and from school for the children. Because the school is in the neighborhood, children will attend with their friends. This can also be a negative attribute for public schools if t heir friends include gang members or people who would get them into trouble in some way.

Laplace and Fourier Transforms Essay Example for Free

Laplace and Fourier Transforms Essay Laplace and Fourier Transforms are operator which when applied on a function, lead to another function in a different variable. These transforms are very useful in solving many problems in different branches of engineering. What is essentially done is that an engineering problem is modeled as a mathematical equations and these equations are generally ordinary and / partial differential equations with boundary conditions. These equations are difficult to be solved by analytical methods, however, these equations can be converted into algebraic equations by using Laplace or Fourier Transforms and then it becomes easy to solve these equations. Once these subsidiary algebraic equations are solved, the solution of these algebraic equations is transformed back and thus the solution of the engineering problem is obtained. Thus it can be said that there are following three steps involved in solving differential equations with boundary conditions. (1) Transforming the differential equations with boundary conditions into simple algebraic equations (subsidiary equations). (2) Solution of the subsidiary algebraic equations by algebraic manipulations. (3) Transforming back the result(s) of subsidiary algebraic equations to obtain the solutions. Therefore, it can be seen that the problem of solving a differential equation is simplified into solving of algebraic equations by use of Laplace or Fourier transforms and needless to say that solving an algebraic equation is much simpler than solving a differential equation. Therefore, it is not unusual that Laplace and Fourier transforms find extensive application is solving engineering problems in mechanical as well as electrical domain where the driving force has discontinuities, is impulsive and is periodic function of complex shape. Besides, this method solves the problem directly. Initial value problems are solved without determining the general solution first. Also, nonhomogeneous equations are solved without solving the homogeneous equations first. These transformations are useful in solving not only the ordinary differential equations but in solving the partial differential equations as well. In this paper, the definition, properties and applications of Laplace and Fourier transforms is discussed in detail. Laplace Transform Let us consider a function f = f(t), which is defined for all t 0. When this function is multiplied by e-st and the product is integrated from t = 0 to t = ? and if this integral exists, then this integral will be a function of s, let us say it is F(s); then F(s) is Laplace transform of f(t).

Is The Criminal Justice System Fit For Purpose Criminology Essay

Is The Criminal Justice System Fit For Purpose Criminology Essay This essay will an examination of the aims and objectives of the criminal justice system, looking at how effective it is with regards to the punishment and rehabilitation of offenders, the public opinion on its effectiveness using statistics and reports, and specifically targeting the issue of flaws within the prison and parole services, also a brief look at where we are today in comparison to many years ago in the earliest period of Crime and Investigation. We know from a great many sources and from history that the Criminal Justice System, in one form or another, goes back many thousands of years, in this essay we will also look at the history of Criminal Justice in order to determine whether, through time, it has become more effective or less effective or if the system itself has been consistently effective since it was first put into practice. The first sign of a Criminal Justice System came many thousands of years ago in Ancient China, the name of the system at the time was not Criminal Justice it was actually the Prefecture system, this system was developed in both the Chu and the Jin Kingdoms of Ancient China. Perhaps more relevant or similar to the Criminal Justice System we know today, would be the systems used in Pre-Modern Europe. In Pre-Modern Europe many thousands of years ago crime in Ancient Greece and Rome for example was very much viewed as a private matter, it was the prerogative of the victims family members to exact some form of justice. Vendettas and private wars were common place as a means of protecting themselves against criminality. The first sign of a government instigating policing of the people came from the Ancient Greeks and the Romans, in Athens a group of 300 Scythian slaves were assigned to guard public meetings to keep order and for crowd control, they also assisted in dealing with criminals, manhandling prisoners and making arrests. Other cases associated with policing including investigating crimes were left to the citizens themselves. The Roman Empire had a pretty effective law enforcement system until the decline of the empire, though there was never an actual police force per-say in the city of Rome. When Rome was under the reign of Augustus the capital had grown to a population of almost one million inhabitants, Augustus created fourteen wards each protected by a garrison of one thousand men who could call for the assistance of the Praetorian Guard if necessary. Then in the beginning of the 5th century, Policing became the duties of the clan chiefs and heads of state. During the middle Ages, crime and punishment were dealt with through blood feuds (or trial by ordeal) between the peoples involved. Payment to the victim or family, which was known as a wergild, was another common punishment, this included violent crimes. For those who could not afford to buy their wa y out of punishment, harsher penalties included various forms of corporal punishment. Such as mutilation, whipping, branding, and flogging, the most severe of these was execution. The primary form of state-administered punishment during ancient times and the middle Ages was banishment or exile. Though a prison was in existence as early as the 14th century in Florence, incarceration or long term detainment was not widely used until the 19th century. The Anglo-Saxon system of maintaining public order was a private system consisting of separate tithings, and since the Norman conquest, which was based on a social obligation for the good conduct of the others; more common was that local lords and nobles were responsible to maintain order in their lands, and often appointed a constable, often unpaid, to enforce the law. The Ancient Romans also played a huge role in the criminal justice system. Even the toga symbolizes the wig a magistrate wears in the legal system that exists today. So when we look at the assignment of those to a position of public order, were they more, or less effective than cases being handled solely by the people, this is difficult to determine as the first officially recorded crime statistics were the BCS or British Crime Survey in 1982, however we can look back and see a far more effective level of justice since the appointment of law officials and crime investigators. The British Crime Survey 1982 present looks at the publics experiences of crime (in the earlier dates asking about crimes experienced in the year before) weather these crimes were reported or not, this determined the important alternative crimes to the more commonly known and reported, for the police records. The questions asked covered the victims of crime, the circumstances to which incidents occurred and the behaviour of the offenders committing the crimes. Through these enquiries the survey provides information to inform crime reduction measures and to gauge their effectiveness. Through this the BCS was able to determine peoples attitudes regarding the criminal justice system, police and courts system. These actions have given the Public a relatively balanced and reasonable amount of information regarding crime/criminal behaviour. In order to determine how effective the criminal justice system is given that we know all the facts (from the BCS), we need to identify what measures to use, to measure the effectiveness. For Example looking at the public confidence in criminal justice agencies, public confidence in other government agencies, public fear of crime, proportion of taxes/national expenditure going to justice agencies, the crime rate, the proportion of the population who are criminals and the number of cases of infringement of human rights by justice agencies (Lewis 2003). The methods or processes countries have to tackle the issue of making the Criminal Justice system fit for purpose. There are government and voluntary organisations who take up the role of drawing attention to poor or unfit justice processes, local managerial structures designed for justice agencies and local government to build effectiveness ensuring that there is a level of quality control, and government funded inspection processes. The projected plans or ideas of these is that the public in general knows very well whether or not the justice process works. The public will slowly a ccept and deal with certain levels of crime and public surveillance but not so much so that it inspires paranoia, they are also likely expect the police and courts to be tough and yet turn a blind eye to some practices which may be an infringement of human rights. But only up to a certain limit as there is only so much the public can cope with. Interestingly in most countries even those that are well funded and governed there is a rather low general knowledge of the Criminal Justice System. There are many countries where the justice agencies are in effect independent to the political parties, so changing politicians will not make a great deal of difference. This is certainly the case in England and Wales today, where the Labour government has chosen simply to continue most of the policies of the previous Tory government, with the prison population inevitably continuing to grow. The Governments criminal justice system is not fit for purpose (Moses 2010), Colin Moses a high ranking me mber of the Prison Officers Association felt that prisons are being placed in a position that forces them to cut their budgets at a time when England and Wales are holding a record high number of prisoners. And now the Government is being forced to pay out compensation to offenders. This compensation is brought about by prisoners taking cases to the London High Court regarding the delay of Parole Hearings, with some prisoners finding the delay was in breach of their human rights and said that the delay was generally speaking totally unacceptable. One individual added that, with pressure ever growing on the Parole Board as a result of new legislation and the introduction of indeterminate sentences, it was actually the obligation of the Government to have provided the necessary resources for what was clearly a predictable and indeed inevitable increase in the workload (Collins 2010). This would be a terrific blow to the Criminal Justice System being regarded by the public to be fit fo r purpose, as Legal experts have made claims that in past cases, compensation has been approximately one hundred pounds for each day an inmate is wrongly detained. This is a considerable amount as the average delay in holding parole hearings is five months. The shadow justice secretary, said: It is appalling that public money should be wasted like this (Herbert 2010). This large amount of the tax payers money could quite easily have paid for secure accommodation required to hold or detain prisoners so that violent offenders are not released early onto the streets of England and Wales. When Gordon Brown was chancellor he refused to provide sufficient prison capacity and has subsequently overloaded the prison and probation services, and re-offending has continued to rise excessively. The firm Bhatt Murphy, which a present has more than twenty compensation claims pending, had stated that the Parole Board has accepted, privately, that it is in breach of the law and is having to cope wit h the Governments continuous failures to think through logically all of the relevant policies. With an ever growing case load, the Parole Board is finding it difficult to the extreme to assemble the judges, psychologists and probation officers who are required to assess each case within the given time. Parole Hearings are held specifically for all types of violent and sex offenders. Given this information the public must not be reassured of the Criminal Justice Systems effectiveness and worse still is a statement made later by the head of the Parole Board. Christine Glen had admitted to the constitutional affairs select committee that the backlog of cases involving parole for prisoners was completely unacceptable and she even stated that it was likely to worsen (Harper 2007). This does not inspire a great deal of confidence in the Criminal Justice System and its ability to be fit for purpose. Another public relations spokesman for the Parole Board had stated that in spite of the gov ernment putting considerable efforts into addressing all of these problems, the deferral rate is still so high it is deemed unacceptable. The single largest contributing factor remains to be the sixty per cent of cases received late from prisons and a further ten per cent of cases not actually received at all before the date the hearings were meant to take place. Also stated was that they are aware that there are unacceptable delays in hearing cases and that this raises the possibility of breaches of the European Convention on Human Rights and subsequent compensation claims from prisoners who are kept in custody longer than necessary. All this scandal is the latest controversy to hit the criminal justice system. In June 2007, it was revealed that inmates released early would receive almost two hundred pounds to compensate them for eighteen days of lost prison space. These actions were an attempt to reduce overcrowding. The ever growing issue of overcrowding has pushed the Prison Service to have to spend more than six million pounds to house six hundred convicts in police cells. In spite of the fact that thousand were walking free early, the prison population stood at 80,229 inmates in 2007, forcing dozens of inmates back into police cells. This is all clear evidence that the Criminal Justice System has tremendous flaws. Lord Phillips said in an interview with The Independent: The reasons for the rise in the prison population are quite complex but there is no doubt it has been steadily growing and the forecast is that this trend will continue. Certainly some criminal legislation dealing with sentencing has had the effect of imposing longer sentences or sentences which keep people in prison until they demonstrate they are no longer dangerous. (Phillips 2010). One subject of particular concern was the new indeterminate sentence for public protection or as its also known the IPP, which was brought in four years prior. Recently the Prison Governors Association and the Liberal Democrats stated that hundreds of convicts who could be released were being detained in prisons because the Government had failed to pay for the necessary drug treatment and rehabilitation courses for the offenders. Lord Phillips also said he had reservations about the IPP sentence which includes a minimum term, after which the prisoner has to show that he or she is suitable for release and no longer a danger to society (Verkaik 2009). The judge involved had stated that he knew the legislation had been changed to meet some of the concerns but that he was not clear about the latest figures regarding prisoners detained beyond their minimum required sentence. The Government says a further three million pounds was made available to aid with resourcing IPPs. When I was involved it was apparent there was a resource problem when dealing with IPP prisoners in relation to giving them the rehabilitation that they needed in order to be in a position to demonstrate they were no longer a danger, and also there was a problem with the resources of the parole board in considering whether or not they ought to be released (Phillips 2009). He also added that Prisons must be provided for individuals judges send to prison. And that what governs the overall prison population is a complicated question and legislation dealing with sentencing can then increase or decrease a prison population. He explained however that he had always been in favor of alternatives to custody although that would be down to the discretion of the judge. So in conclusion, there are many flaws in the Criminal Justice System but what ciaos could the nation be experiencing without the Criminal Justice System as we know it today, and to what extent would crime exist if there were a different system. No the Criminal Justice System is fit for Purpose.

History Of The Nigerian Mass Media Media Essay

History Of The Nigerian Mass Media Media Essay The emerging trend in Nigerias broadcast industry after the doors were thrown open for private participation has been a success story. The Nigerian nation, contrary to initial governments apprehensions, has not collapsed. There has not been any case of the use of the private stations to foment trouble nor subvert the country. Rather, what Nigerians seemed to have witnessed is the opportunity to choose. Competition in broadcast programming brought about by private stations has created some vitality and vibrancy in the broadcast sector such that even many government owned stations that were almost sinking in boring and monotonous monologues of what the government said and so on have been forced to abandon their slumber. It has been a tremendous advantage for the Nigerian airways for the deregulation of its airways. The governments fears became unfounded with the exemplary courage of General Ibrahim Babaginda (administration) who on August 24, 1992, threw open the gates to allow private individuals and groups the opportunity to own, control and operate broadcast stations. However, for a long time, government held on to its exclusive monopoly of the broadcast media because it felt it could not trust the professional discretion of private individuals to protect public interests or safeguard the nations security. It would be recalled that successive military adventurists found it a convenient strategy to execute their coups on the airwaves of the nations broadcast media. The government probably felt the nation was not ripe for private ownership of broadcast stations. Meanwhile, decades later the former governments realized they have been wrong because the deregulation expanded the industry and improved the efficiency and effectiveness of broadcast stations in the country. Deregulation in Nigeria has not only helped the country but boost the freedom of expression and also promote the quality of broadcasting in Nigeria. Furthermore, they have also stimulated social and economic growth and development in the country. In fact, if not for anything, it has provided more employment opportunities for Nigerians and a medium for advertisers and advertising practitioners. With the coming of private television stations, the face of television broadcast in Nigeria has been changed permanently for good. For one, it has raised the stake in the industry, as stations, both public and private, now competition is getting keener by the day. Today, viewers have more stations to choose from, unlike in the past when NTA and state stations held sway. This has translated to more programmes. One of the fallouts of broadcast deregulation is the upsurge in the thriving activities of independent producers. Because of the options and latitude provided by a deregulated broadcast market, independent producers, most of who had been frustrated out of civil service media stations have new opportunities to showcase their talents. Besides, the employment market in the broadcast sector, in the wake of deregulation, offered better prospects as employers lured the few available talents with better remunerations. Poaching soon became the order of the day as most government stations that failed to appreciate the worth of their on-air talents and other professionals in the news, programmes, and engineering directorates lost them to the upcoming outfits. In addition to the benefit of deregulation in Nigeria, the ownership of broadcast media stations by individuals craves way for true democracy. It is fact that a government owned broadcast station would not want to broadcast anything that would jeopardize or tarnish the image of the government. Hence, workers in such media house would find it difficult to broadcast unscrupulous stories of the government because of the fear of losing his job. However, the presence of private media houses gives room for easy publication of governments unscrupulous stories. The purpose of mass communication as a watch-dog for the masses becomes effective in this aspect because a case study of Nigeria reveals that a private media house will not hesitate to broadcast any news story that would or not tarnish the image of the government. This they would do more than a government owned station. Furthermore, it is conspicuous that deregulating the airways as been one of the strategic decisions the Nigerian government has taken. Another advantage of the deregulation of the airways is the act of broadcast on-line. The private media houses in Nigeria facilitate the growth and increase of web-casting. In Nigeria today, almost all private media houses have their programmes broadcast on-line through web-casting. All these advantages of deregulation of the airways in Nigeria have contributed immensely in improving the economy of the country. It has improved the economy because so many individuals have set up so many media houses which have also increased the numbers of the employed especially those who had gone to school to study in the specified field of mass communication and journalism. Moreover, as the standard of the industry improves, it makes the industry to be capable of competing with other countries industries. Also, another advantage which a broadcast station has is the capability of educating its listeners. Deregulation in Nigeria which gives room for the rush in of more media houses make viewers have choices of been educated. It increases the ability of media houses to make its audience educated and conscious of where they live in. Advertisement on broadcast stations also create awareness to the masses, so many broadcast stations even when individuals owned stations have dominated the airways advertise lots of products and services. Most importantly, it serves as a medium where manufacturers or entrepreneurs reveal their products or services to the people. Also, it serves as a medium the audience gets to know about new products and new development. Finally, based on the emphasis of the relevance and necessities of the deregulation of the Nigerian airways, it is a fact that the deregulation of the airways was necessary and has benefited the country tremendously. There is also a bright prospect ahead of the industry even as these individuals who keep on thronging into the industry keep on imbibing fresh and well innovating ideas which would improve it to its peak of standard. So therefore, indeed the sky is a stepping stone for the industry.

Invisible Man Essay examples -- essays research papers

Invisible Man What makes us visible to others? How is it that sometimes society is completely blind to our exisitance? Either we are invisible because we are not being noticed or we are invisible because others can not see our true identity due to expectations relating to race, gender or class. Of course the term invisible was not intended to be taken literally. The meaning of invisible in Ellison’s Invisible Man is essentially metaphorical. Ralph Ellison’s Invisible Man, the main character experiences invisibility in various manners and situations. Being invisible has its advantages. If others don’t acknowlegde you then you could get away with actions that people are usualy punished with a penalty. In the book, the main character tells of his advantages of being invisible such as living in the basement of an apartment building rent free beause the landlord is unaware of his dwelling. The same example can be said in a working enviornment where an employee can come in late multiple times but is not scrutinized because that employee is not vital and therefore unoticed by the employer. This type of invisiblilty is favored by some by laothed by others.   Ã‚  Ã‚  Ã‚  Ã‚  Some people don’t like the felling of being unimportant. Ironically, in the book Invisible Man, the main character explained the advantages of being invisible shortly after he showed contempt for being invisible. Frustrated at his invisibility, he lashes out at a man he intentionally bumped into (althought at the beginning, he said it was accidental). Observing this more closely, it was an attempt to be acknowledge by the man to see if he would move out of the way. The fact that the man didn’t bother to do so only push him down a deeper state of anger and therefore the only way for him to be acknowledge is to act drastically. This inisibility is a reflection of the other’s respect for the main character. The main character was not a seen person of importance. Not being acknowledge is usually frowned upon. This disregard of acknowledge occurs often in a place of work. Whether it be in a learning institution or a working enviornment were a perso n deprived of praise and recongnition. In order for that perons to be reconginized is to make him/herself seen and usually this calls for gaining the attention of another by some act. Then your invisibility becomes visble as a new image is ... ...rson that he/she should speak with slang and where baggy clothes. In time, this person usually go through the gradual change of becoming person that was visible to the black community. In time those who tend towards the identity that is not their own evetually becomes lost in that identity. Therefore their true identity is no longer visible to them but remain visible to others in that â€Å"other† identity. The issue of visibility and invisibility will always involve race, gender and class. Race, gender and class aren’t the ONLY subjects that would influenece visibility and invisibiy. It can also be actions, education, hieght, etc. Unfortuntely people tend to see only what they expect to see, blinding themselves from the actually truths othe of others. This seems to be an ongoing issue as people tend to only look at the surface and don’t bother to look past it. Recongnizing what deserves regonistion is not the only solution. There is also fair treatment of others. We must learn not to assume what we expect of others. This expectations usually lead to underestimting and disrespect to those that deserive it. Only when we decide not to be blind can we finally see what ws truly invisible.

History of Frogs :: essays papers

History of Frogs A Frog is a small, tail less animal that has bulging eyes. Almost all frogs have long back legs. The strong hind legs make the frog able to leap farther than the length of its body. Frogs live on every continent except Antarctica, but tropical regions have the greatest number of species. Frogs are classified as amphibians. Most amphibians, including most frogs, spend part of their life as a water animal and part as a land animal. Frogs are related to toads, but are different from them in a few ways. The giant frog of west-central Africa ranks as the largest frog. It measures nearly a foot (30 centimeters) long. The smallest species grow only 1/2 inch (1.3 centimeters) long. Frogs also differ in color. Most kinds are green or brown, but some have colorful markings. Although different species may vary in size or color, almost all frogs have the same basic body structure. They have large hind legs, short front legs, and a flat head and body with no neck. Adult frogs have no tail, though one North American species has a short, tail like structure. Most frogs have a sticky tongue attached to the front part of the mouth. They can rapidly flip out the tongue to capture prey. Frogs have such internal organs as a heart, liver, lungs, and kidneys. Some of the internal organs differ from those of higher animals. A frog's heart has three chambers instead of four. And although adult frogs breathe by means of lungs, they also breathe through their skin. The eggs of different species vary in size, color, and shape. A jelly like substance covers frog eggs, providing a protective coating. This jelly also differs from species to species. Some species of frogs lay several thousand eggs at a time. But only a few of these eggs develop into adult frogs. Ducks, fish, insects, and other water creatures eat many of the eggs. Even if the eggs hatch, the tadpoles also face the danger of being eaten by larger water animals. The pond or stream in which the eggs were laid sometimes dries up. As a result, the tadpoles die. Certain tropical frogs lay their eggs in rain water that collects among the leaves of plants or in holes in trees. Other tropical species attach their eggs to the underside of leaves that grow over water.

Unrestricted Capitalist Development and the International Monetary Fund

Unrestricted Capitalist Development and the International Monetary Fund: Their Economic and Social Effects on Buenos Aires. Argentina The day is Friday, December 21, 2001. After three days of massive riots the city of Buenos Aires looks like an abandoned battlefield. Its grand palm-lined avenues are strewn with burnt-out shells of cars, smashed glass, rocks, and twisted furniture. Unemployed people, pensioners, and women with babies climb through smashed supermarket windows searching for any food that looters left behind. Most banks and shops are closed, and dazed people wander the streets, confused and fearful of their nation’s state of affairs (Arie 11). The â€Å"battle† started on Monday, December 17, with massive food riots and looting of trucks transporting food, led by thousands of poor families. The Argentine government said there were 20,000 looters in Buenos Aires alone, as citizens broke into stores and smashed shop windows, stealing items including food, clothing, and toilet paper (Gardner 9). Food riots erupted in the working-class belt surrounding the capital, such as Lanus, as well (Rohter 6). Television footage from Rosario, a city northwest of Buenos Aires, showed more than one hundred slum dwellers descending on an overturned cattle truck and slaughtering the animals with sticks and knives so they could carry off chunks of meat (Abel 20). Silvia Tebez, an unemployed 27-year-old mother of three said, â€Å"a few hooligans made off with television sets and the like, but by and large these were parents who were hungry, with no money and no hopes of obtaining any† (Rohter 6). Hungry or not, the government, headed by President Fernando de la Rua, attempted to control the rioters by instituting a sta... ...State University of New York Press, 1987. Rodriquez, Alfonso. â€Å"Argentine Food Riots End, But Hunger Doesn’t.† The New York Times. 24 December 2001: 18. Rohter, Larry. â€Å"Argentine Food Riots End, But Hunger Doesn’t.† The New York Times.23 December 2001: A6. Soriano, Alex. â€Å"Argentine Police Smash Protest by Workers.† The Montreal Gazette.19 April 2002: 12. Sparr, Pamela. Mortgaging Women’s Lives: Feminist Critiques of Structural Adjustment. London and New Jersey: Zed Books Ltd., 1994. U.S. government. 12 April 2002: http://www.cia.gov/cia/publications/factbook. Valente, Marcela. â€Å"Labor-Argentina: Workers Give New Life to Abandoned Factories.† Inter Press Service. 19 March 2002: 1-3. Ximenez, Daniel. â€Å"Argentina People Throw the Bastards Out.† Labor Notes. 22 February 2002. http://www.labornotes.com.

Slavery has been in the United States early as 1619

Slavery has been in the United States early as 1619. Slaves were brought to America for one thing and one thing only, money. Tobacco took a great amount of work to harvest, but with the slaves help it all got completed. Slaves cost at least three more times than a regular servant for the reason that slavery was their life, it was their job. Regular servants finished their ‘slavery’ time in about 4 years. Slavery really got across the whole country as time passed, and in 1670 the crop, tobacco, took over the nation. In fact, slavery didn’t really come into play in the laws until the 1660s. In the early 1680s Virginia wanted to alter what a slave was, earlier defined by the House of Burgess. The Europeans saw African Americans as human beings, but their actions towards them did not say the same. Slaves that used to be put to work while on the ships did not appreciate it at all. Almost 15% of the slaves on the ship die on their way to a destination due to no food or by just being sick. The ship was so small sometimes that the slaves had to be on top of each other. The owners of the ships tried to get as many slaves on the ships as possible so when they got to their destination they would sell the excess slaves. Since Africa had so many in it, that was the usual target to get slaves and bring them back to the land. By the early 1700s African Americans took over one fifth of the population in America. With the large number of slaves being introduced into the colonies they had a great impact on the economy and in reshaping the population as a whole. The Africans brought their expertise of travel, planting and hunting to the new world. The African dugout canoe became the chief means of transportation in the colonies. This expertise from the Africans contributed greatly to the prosperity of South Carolina. Many slaves had their own gardens that they could tend to when they were not working. On Sundays slave holders usually gave the slaves the day off as the day of the Sabbath. It was on this day most slaves would tend to their garden, hunt, or fish. The slaves who were experienced could often complete their tasks in the early afternoon. With the growing rate of slavery, many slaves contemplated the idea of running away to try and gain their freedom. In 1693 Florida, which at that point was still part of Spain, granted the runaways that freedom stating if the runaways would convert to Catholicism they would be granted freedom. Since South Carolina was so close to Florida many slaves ran away and took advantage of this offer. In 1708 enslaved Indians composed as much as fourteen percent of South Carolina’s population. Why not more? Why did the colonists need to bring Africans over to the Americas when so many Indians already here? Indians posed a difficulty. Indians by and large remained free because they resisted and were difficult to control. Indians who were slaves were able to escape and not be caught, for unlike the Africans and the landowners, Indians could escape into the countryside, which they new intimately. Slavery was brutal; whipping occurred frequently and usually occurred in a public setting as an example to others. The work was backbreaking and conditions were not less than ideal. In 1712 the blacks had a rebellion in New York City, which lasted only one evening. But in 1739 in South Carolina the Stono Rebellion lasted several days. In both incidents many blacks lost their lives. The hopes of setting captured blacks free didn’t happen. In 1731 a law was put on the books prohibiting Africans from owning or possessing a gun and also fined owners for letting slaves wander at night alone. Running away, work resistance and revolution became the most common form of African resistance to slavery and helped to build a bond in the community as a whole. Slavery in the early colonies turned from Africans being able to earn their freedom to being treated brutally. Without the expertise from the Africans, the early American colonies would not have flourished as they did. Escaping slavery – the central form of labor both in the North and the South for several centuries – became the main aim for the African Americans of the time. Later, with the times of the Revolution the concept of the full citizenship was born in the minds of those who fought for freedom. The first goal – the abolition of slavery – was officially ratified in 1863, while the second – the granting of the citizenship – was documented only five years later. In reality, the fight for the real freedom and equality had just begun. The end of Reconstruction in 1877 signified the return to the inequality and racial prejudice, making basis for the later emergence of the Civil Rights Movement that signified further notion of freedom for the African Americans. The fight for slavery abolition resulted in the emancipation of the huge portion of the American inhabitants and the change of attitude to humans that are all â€Å"born free and equal†, according to the basic principles of the U. S. Constitution. The abolition of slavery was a dream for the African Americans that were brought to the America as slaves or born into it for many generations. Slavery in the United States was forced by enormous economic challenges, backed by country official legislation and the connivance of the church. The United States were destined to realize the meaning and the price of freedom largely due to the African Americans’ active fight for their basic human and civil rights. Thousands of people were depleted of their basic freedoms and dignity due to the difference in color and status. The change of this status that officially began in the late nineteenth century, lead not only to the transformation of the perception of the equality and freedom of the African Americans – it has forced a change in attitude to women’s rights, leading to women suffrage and further emancipation, making strong basis for the further acknowledgement of gender, racial, disability and sexual orientation equalities. Ever since the Fifteenth Amendment to the United States Constitution guarantees that â€Å"the right of citizens of the United States to vote shall not be denied or abridged by the United States or by any State on account of race, color, or previous condition of servitude†1, the African Americans fight for the rights gave a chance to the real, unconditional freedom in the land of the free. This goal lead to further development of the civil rights movement, resulting in the acknowledgement of the document that would enable more equality despite gender, race, color, disability or religious belief. The Civil Rights Act of 1964 that extended voting rights and outlawed racial segregation in schools, at the workplace and in public accommodations, was another victory of the African American ancestors that fought for freedom back in the nineteenth century. It would be wrong to claim the fight for the equality is over, because even almost half a century later, practical issues of discrimination remain, although these cases are incomparably fewer than back into the times of the formation of the United States. The civil rights movement achieved impressive results in the fight for equality and it is important to study the African American History as it apparently constituted an impressive part of the history of the United States, starting from the early colonial days to the current events. The African American History has also formed the basic principles of the human coexistence within the country, creating the key laws on human rights and freedoms of the United States of America, which will surely determine the future of the nation.

Major Parts of Corporate Entrepreneurship.

* 4 major parts of corporate entrepreneurship. 1-New business venturing ( corporate venturing) Corporate venturing refers to the creation of a new business within an existing organization. Business dictionary defined corporate venturing as the practice where a large firm takes an equity stake in a small but innovative or specialist firm, to which it may also provide management and marketing expertise. Specifically, corporate venturing emphasized an internal capital resources, proprietary knowledge, and marketing expertise.The concept of corporate venturing has existed for many years in the US where many of the top companies have a venture capital fund or offer strategic alliances. While the number of companies involved is much smaller in this country, it has existed for many years and in many sectors. Traditionally corporate venturing has appealed to high-growth sectors such as pharmaceutical or technology companies. 2. Innovativeness It’s product and service innovation, with emphasis on development and innovation in technology.The innovation of product and services are crucially important to every economy. Innovation and new business development can be initiated by independent individuals or by existing enterprises. Corporate entrepreneurship is ever more considered as a valuable instrument for revitalizing existing companies. It is brought into practice as a tool for business development, revenue growth, and profitability enhancement for pioneering the development of new product, services and processes. 3. Self-renewalIt’s transformation through renewal of key ideas on which an organization is built. Self-renewal has strategic and organizational change implications and includes the redefinition of business concept, reorganization, and the introduction of system-wide changes for innovation. Self-renewal is entrepreneurial because it involves entrepreneurial efforts that result in significant changes to an organization’s business or corpora te level strategy. 4Proactiveness This term includes initiative, risk taking, competitive aggressiveness, and boldness.It attempts to lead rather than follow competitors. A proactive firm is inclined to take risk through experimentation. Some opinion conceives of proactiveness as a continuous search for market opportunities and experimentation with potential responses to changing environmental trend. Entrepreneurial proactiveness depends on the attractiveness of an opportunity and ability of the firm to grasp once it is perceived. Organizational performance depends on entrepreneurial proactiveness if there is uniqueness in the creation of new product from the available resource

Issues Concerning IT Outsourcing

Companies are increasingly outsourcing the management of information technology (IT) for reasons that include concern for cost and quality, lagging IT performance, supplier pressure, access to special technical and application skills, and other financial factors. The outsourcing solution is acceptable to large and small firms alike because strategic alliances are now more common and the IT environment is changing rapidly. Although the mix of factors raising the possibility of outsourcing varies widely from one company to another, there are a series of themes that explain most of the pressures to outsource. First of all, general managers† concerns about cost and quality drive outsourcing. The same issues such as getting existing services for a reduced price at acceptable quality standard came up repeatedly. Second, failure to meet service standards can force management to find other ways of achieving reliability. It is not atypical to find a company in which cumulative IT management neglect eventually culminated in an out-of-control situation the current IT department could not recover from. Management can see outsourcing as a way to fix a broken department. Third, a firm under intense cost or competitive pressures, which does not see IT as its core competence, may find outsourcing a way to delegate time-consuming, messy problems so it can focus scarce management time and energy on other differentiators. Next, several financial issues can make outsourcing appealing. One is the opportunity to liquidate the firm†s intangible IT asset, thus strengthening the balance sheet and avoiding a stream of sporadic capital investments in the future. Also, outsourcing can turn a largely fixed-cost business into one with variable costs. This is particularly important for firms whose activities vary widely in volume from one year to another or which face significant downsizing. Outsourcing has identified numerous potential benefits. Financial benefits from outsourcing included rapid funding of new systems development and economies of scale and scope. As consolidate infrastructure through IT outsourcing, a firm can experience cost reductions in hardware and software licensing, facilities, and support headcount. Outsourcing, also, can capitalize on an outside vendor†s extensive IT problem solving knowledge. An outside vendor had the ability to get more of the technology that came out. They could spend money on investments that a company couldn†t afford internally. That opens up a lot more avenues to future technologies. An outside vendor would manage the IT function more efficiently. A vendor†s main competency is managing computer systems. Through their skills, leverage, and economies of scale, they could provide a level of efficiency that could not be achieved at the outsourcer. Finally, Perhaps most important, outsourcing allow internal IT managers to focus on the development of a new IT infrastructure. Underlying the outsourcing effort is a fundamental strategy to offload legacy applications and operations so a firm could focus on developing new strategic application to support the global business processes, which were being reengineered. There are many ways to manage IT outsourcing since every company has different culture, strategy, structure, people, and process. Also, many important issues such as structure, Information management operating processes, management processes, human resources management should be clarified. However, I†m here going to use Xerox†s outsourcing process. A company may go through 5 phases to reach a successful outsourcing; Fact Gathering, Request for Proposal and Data Gathering, Feasibility and management Approval, Baseline Building and Evaluation, Due Diligence and Contract Awarded. At first, information management (IM) collects the facts the company faces and design team recommendation. Then IM request for information to numerous vendors. After compare their response with evaluation checklist which includes technical, HR, financial, contractual factors, IM conclude the feasibility of outsourcing and make recommendation for management. Then, with the Management†s approval, IM start to build best-case model and contract terms while evaluate the vendors† proposal using evaluation checklist again. Then, the final negotiation and selection for contract development will be made and, finally, terms are finalized and contract is drafted. Many outsourcing contracts are structured for very long periods in a world of fast-moving technical and business change. Eight to ten years is the normal length of a contract in an environment in which computer chip performance is shifting by 20 to 30 percent per year. Consequently, a deal that made sense at the beginning may take less economic sense three years later and require adjustments to function effectively. Exacerbating the situation is the timing of benefits. The first-year benefits are clear to customer, who often receives a one-time capital payment. The customer then feels relieved to shift problems and issues to another organization. The situation from the outsourcer†s perspective is just the reverse. The first year may require a heavy capital payment followed by the extraordinary costs for switching responsibility to them and executing the appropriate cost-reduction initiatives. All this is done in anticipation of a back-loaded profit flow. At precisely the time the outsourcer is finally moving into its earnings stream, the customer, perhaps feeling the need for new services, is chafing under monthly charges and anxious to move to new IT architectures. If the customer has not had experience in partnering activities before, the relationship can develop profound tensions. The evolution of technologies often changes the strategic relevance of IT service to a firm. From the customer†s viewpoint, assigning a commodity service to an outsider is very attractive if the price is right. Delegating a firm†s service differentiator is another matter. The customer that made the original decision on efficiency will judge it differently if using effectiveness criteria later. IT outsourcing has so many positive effects for a company even though it still contains various problem needed to be solved. In the Internet age, any company may want to focus its internal staff on moving it to the environment that will support them tomorrow and outsourcing could be one of the best solutions. Also, outsourcing is really more of an integration of two separate businesses to be successful. Both want to take the best parts of each culture and put them together. In addition, critical success factors including existence of a multi-years, corporate commitment to the IM strategy and outsourcing, and quality culture and attitude should be considered in outsourcing.

Report on Fmcg Market Sructure and Market Share

PROJECT REPORT ON FMCG MARKET SRUCTURE AND MARKET SHARE What is FMCG? FMCG is an acronym for Fast Moving Consumer Goods, which refer to things that we buy from local supermarkets on daily basis, the things that are non-durable, sold quickly, at relatively low cost, have high turnover and are relatively cheaper. FMCG’s constitute a large part of consumers’ budget in all countries. The most common in thelist are baby foods, toilet soaps, detergents, shampoos, toothpaste, cosmetics, shaving products, shoe polish, refined cooking oil, packaged foodstuff, soft drinks, chocolate bar, tissue paper and other household accessories and extends to certain electronic goods and other non-durables such as glassware, bulbs, batteries, paper products and plastic goods, such as buckets etc. These items are meant for daily of frequent consumption and have a high return. FMCG are products that have a quick shelf turnover, at relatively low cost and don't require a lot of thought, time and financial investment to purchase. The margin of profit on every individual FMCG product is less but as they sell in large quantities so the cumulative profit on such products are high. Hence profit in FMCG goods always translates to number of goods sold. The main segments of FMCG sector are : ) Personal care, Oral Care, Hair Care, Skin Care, Personal Wash (cosmetics and toiletries (soaps), deodorants, perfumes, male grooming, feminine hygiene, paper product); 2) Household care (fabric wash laundry soaps, synthetic detergents, household cleaners, such as dish/utensil cleaners, floor cleaners, toilet cleaners, air fresheners, insecticides and mosquito repellents, metal polish and furniture polish); 3) Packaged food and health beverages (flour, tea, coffee, sugar, staples, cereals, dairy products, chocolates, soft drinks, juices, bottled water, snack food, chocolates a nd cakes) 4) Tobacco. India ; the FMCG Market: The Indian FMCG sector is an important contributor to the country's GDP. The Indian FMCG sector with a market size of US$14. 8 billion is the fourth largest sector in the economy and is responsible for 5% of the total factory employment in India. The FMCG industry also creates employment for 3 million people in downstream activities, much of which is disbursed in small towns and rural India. This FMCG industry has witnessed strong growth in the past decade. This has been due to liberalization, urbanization, increase in the disposable incomes and altered lifestyle. Furthermore, the FMCG boom increased due to the reduction in excise duties, packaging innovations etc. and unlike the perception that the FMCG sector is a producer of  luxury items targeted for the elite but in reality, the sector meets the every day needs of the masses. The lower-middle income group accounts for over 60% of the sector's sales. At present, urban India accounts for 66% of total FMCG consumption, with rural India accounting for the remaining 34%. The growing incline of rural and semi-urban folks for FMCG products will be mainly responsible for the growth in this sector, as manufacturers will have to deepen their concentration for higher sales volumes. Many of the global FMCG majors have been present in the country for many decades. But in the last ten years, many of the smaller rung Indian FMCG companies have gained in scale. As a result, the unorganized and regional players have witnessed erosion in the market share. Availability of key raw materials, cheaper labor costs and presence across the entire value chain gives India a competitive advantage. The FMCG market is set to double from USD 14. 7 billion in 2008-09 to USD 30 billion in 2012. FMCG sector will witness more than 60 per cent growth in rural and semi-urban India. The bottom line is that Indian market is changing rapidly and is showing unprecedented consumer business opportunity. History of FMCG in India: In India, companies like ITC, HLL, Colgate, Cadbury and Nestle have been a dominant force in the FMCG sector well supported by relatively less competition and high entry barriers (import duty was high). These companies were, therefore, able to charge a premium for their products. In this context, the margins were also on the higher side. With the gradual opening up of the economy over the last decade, FMCG companies have been forced to fight for a market share. In the process, margins have been compromised, more so in the last six years (FMCG sector witnessed decline in demand). The following are the main characteristics of FMCGs: †¢ From the customer’s perspective: 1. Frequent purchase 2. Low involvement (little or no effort to choose the item — products with strong brand loyalty are exceptions to this rule) . Low price †¢ From the companies perspective: 1. High volumes 2. Low contribution margins 3. Extensive distribution networks 4. High stock turnover Major FMCG companies in India: Hindustan Unilever Ltd. , ITC (Indian Tobacco Company), Nestle India Ltd. , GCMMF (AMUL), Dabur India, Asian Paints (India), Cadbury India, Britannia Industries, Procter & Gamble Hygiene and Health Care, Marico Industries, Nirma, Coca-Cola, Pepsi MARKET SHARE OF FMCG COMPANIES (BABY FOOD) IN INDIA FROM 2001 TO 2010 Bottom of Form In the above pie chart we see the total sales during the financial years from 2001 to 2010 of various FMCG Food Beverage companies in India . THE COMPARATIVE DATA OF % MARKET SHARE OF NESTLE INDIA LTD. WITH ALL OTHER COMPETITOR, DURING THE LAST 10 YEARS FROM 2001 TO 2010 (Above graph showing the FMCG Food Beverage – Baby Food companies percentage market share in the last 10 years from 2001to 2010) So we can see that in overall FMCG business Nestle India Ltd is distantly ahead of the rest of the companies as far as market share is concerned. MARKET SHARE IN THE YEAR 2010 Measurement of Market Structure: Herfindahl–Hirschman Index: Si is the market share of the ith firm Numbers-Equivalent of firms: Reciprocal of HHI FOOD BEVERGE COMPANIES (BABY FOOD)| MARKET SHARE IN 2010 (Si)| | Cadbury India Ltd. | 0. 185753| 0. 034| Cepham Milk Specialities Ltd. | 0| 0| Continental Milkose (India) Ltd. | 0. 012213| 1. 491| Glaxosmithkline Consumer Healthcare Ltd. | 0. 188628| 0. 036| Heinz India Pvt. Ltd. | 0| 0| Jagatjit Industries Ltd. | 0. 084911| 7. 209| Kaira District Co-Op. Milk Producers' Union Ltd. | 0. 028029| 7. 856| Nestle India Ltd. | 0. 75272| 0. 225| Raptakos, Brett & Co. Ltd. | 0. 025194| 6. 347| TOTAL =| 23. 198| Therefore, HHI = = 23. 198 Reciprocal of HHI = 1/23. 198 =0. 043 Priyanka please check the previous calculation, I am not getting the correct data. FMCG SALES GROWTH OF LAST 10 YEARS As per the sales figures received of the year 2001 to 2011, in the past 10 years from 2001 to 2010, after plotting the datas, we notice that the graph f or Nestle is steeply rising, where as for Cadbury and Glaxo, the graph rise is considerable, but for Jagatjit and Milkfood the graph rise is very minimal. Thus Nestle being the market leader enjoys the position of the market laeder and also the profit. FMCG SALES VOLUME GROWTH IN THE LAST 10 YEARS FROM 2001 TO 2010 (Graph showing the FMCG trend throughout the last 10 years. ) FUTURE OPPORTUNITIES India is a fast developing country with a huge population whose per capita income is growing rapidly and there is huge opportunity for the FMCG companies. The opportunities are as follows: * Increasing per capita income is driving FMCG growth in India * India’s consuming class is growing rapidly Changing consumption pattern: Per capita income of Indian customer is increasing and FMCG products are relatively elastic in nature hence the expected sale should increase. PER CAPITA INCOME (Rs) (Above graph showing the trend of Per Capita Income of Indians and datas are collected from a research made by Govt. of India). ) As shown in the above graph the Per Capita Income of an Indian increases gradually throughout the years, and if this trend continues, then in future Indian Population will have more purchase power and will purchase more FMCG products. % OF PAST POPULATION RISE AND FUTURE EXPECTATION Above graph shows the past population and expected future population rise, data are collected from the research made by Govt. of India). Here by the above graphs we can see that there is huge scope for FMCG products and since Nestle India Ltd. is the market leader in India hence it can gain the most out of it. SWOT ANALYSIS: Strength 1. Low operational costs 2. Established distribution networks in both urban and rural areas. 3. Presence of well-known brands in FMCG sector. Weaknesses 1. Lower scope of investing in technology and achieving economies of scale. . Low exports levels 3. Counterfeit Products. Opportunities 1. Untapped rural market 2. Rising income levels 3. Large domestic market-. 4. Export potential 5. High consumer goods spending. Threats 1. Removal of import restrictions. 2. Slowdown in rural demand. 3. Tax and regulatory structure. CONCLUSION Customers in India are also spending more in FMCG as their standard of living are growing. Though there was some downfall in sales and profit, in the beginning of this decade but after that considerable rise in both sales and profit, is seen. Many FMCG companies has started project, to directly reach the rural market. This may be considered as a revolutionary step since the urban market is reaching its saturation level and there is a huge scope exploring in the rural market. This will also be helpful not only increasing its market share but also fight competition. BIBLIOGRAPHY In order to make this project we have taken the help of the following websites & books: * www. wikipedia. com * www. oppapers. com * www. scribd. com Besides it, various books were also consulted to prepare the project report.