Premium Beer Market in Thailand Essay

There were various kinds of determinants influencing the enlargement of the beer market; especially the cause from gas price has risen up high like never before. Deriving the consumer products price had to be adjusted to avoid suffering from higher cost of production and transportation. On the other end, consumer’s purchasing power had become lower due to the higher cost of living; driving them to adapt to the economic situation they were facing. From the observation in the beer market, we could notice there were obvious changes in consumer’s behavior; consumers or drinkers tended to shift from having large size of beer 640ml. to the smaller size 330ml. in the form of small bottle or can. Moreover, there was a slightly drop in the frequency of buying beer also. (Source: B&A CO. ,LTD/Daily Manager Newspaper: May 1st 2005) In addition, government sectors also had plan in process to leverage IRS tax on alcohol beverage as the European Union had implemented it before in order to improve the social overall status and also eliminate beer industry pitfalls. Year 2006 In this year, there were many interesting movements occurring in the premium beer market. Beer manufacturers in the premium segment had planned an expansion in their production base to penetrate in other potential segments which were most likely to be the offering in light beer; providing more choices for consumers, containing less amount of alcohol or to be exact, lower than 5%. From the total amount of alcohol contained, although light beers were obviously positioned separately from the premium segment, still, they had become the new face of drinking premium beer which targeting on consumer who loves to drink healthier responded to the healthy concerning issues and rend in nowadays. Most importantly was light beers were actually sold in the cheaper price than premium beers. Plus with the facts that light beer market was still in the introduction stage, holding only 35 million liters in total production quantity or only 2% of the market shares in beer industry; therefore, showed that the light beers market still had more potential growth along the way (Source: Thai Beverage Marketing CO. LTD/Prachachat Newspaper: March 13th 2006) For the entrepreneur in light beers segment, San Miguel, the first brand penetrated into this market, was using the ‘Push Strategy’ in the early stage, implementing the intensive distribution to cover all convenience stores and on-premise market like pubs, bars, and restaurant in order to take advantages of being the first offering in the market. After the intensive distribution was taken place to cover all potential areas in the market, San Miguel immediately continued with the follow-up plan by using the ‘Pull Strategy’ in order to create more brand awareness through mass media; TV commercials, radio spots, and also held promotional events at particular on-premise restaurants, pubs. Moreover, San Miguel had collaborated with 104. 5FM FAT RADIO holding â€Å"San Miguel Music Fest Volume 2† which counted as the latest marketing activities of San Miguel. On the other hand, Chang Beer, who had been testing the light beer market since year 2005, decided to officially commercialize Chang Light into the premium market in March 2006; at a price of 45 baht per bottle which contains 4. 2% of alcohol volume; also implementing ‘sport marketing’ or ‘event sponsorship’ through golf and related activities. By March 2006, Singha Light was introduced to the premium market in Thailand. Although Singha was planning to focus on exporting their light beers to penetrate in Europe and America continents, but because of the high volume of alcohol up to 6% containing Singha Beer, it caused them to face with higher tax than the competitors. Plus, most drinkers in those markets preferred drinking beers with low degree of alcohol. Apart from that, Singha Light also put more focuses on driving the local market. Singha spent its marketing budget up to 150 million baht to present â€Å"Singha Light: The North Pole Challenge† in order to seek for 4 Thai persons getting once in a life time chance to travel up to the North Pole. Moreover, in this year, the government sectors had pushed through the new legislative law to be the mandatory for all alcoholic beverages. The law basically consisted of the regulations on selling and having to specific age of buyers, time and place of distribution. In addition, The Food and Drug Administration (FDA or ORYOR) had come up with the restriction of having any kind of advertisements relating to alcoholic beverages except print advertorial section in non-Thai magazines and other media. These regulations were officially brought to used on December 3, 2006 and immediately caused all the billboards, logos, brand related signs to be taken down and prohibited. Pubs, bars, restaurants, and also convenience stores were forced not to put any signs or logos of alcoholic beverage which could be seen clearly from outside the facilities. However, there were some exceptions were allowed in the case of social responsibility or tourism related activities. For example, the regulation stated that the facilities providing alcoholic beverages must also provide other non-alcoholic beverages like drinking water or sparkling/soda water etc. The company name must not be the same or rhyme with the name of the alcoholic drinks brand; and marketing strategy like ‘corporate brand image’ was prohibited like naming the company ‘Beer Thai’. For other marketing promotional tools like using pretty girls, the regulation still allowed them to dress in color to indicate the brand but the logos of the brand on the clothes including umbrella were prohibited; and for the issue of specialties or free giveaways that contained any logos indicating brand was postponed to be reconsider for the appropriateness. Year 2007 With the continuation of rapidly gas price rising situation, it was bad influencing the consumers to construct the negative perspective towards the stability spending and earning in the upcoming future and also directly affected the consumer’s behavior. As observed from the quantity of total beers sold in the early April, which usually the most profitable season of the beer industry; 143. 5 million liters comparing to the average sales from other months 140. 6 million liters or 2. 1%. These numbers obviously reflected the stagnant sales reached as low as 2-3%; dropped from 4-5%; mostly because of the pressure on the purchasing power of consumer due to the government regulation trying to decrease the alcoholic drinks consumption. On the tax regulation issue on beers, The Excise Department had organized into 3 groups and assigned different tax fees depending on each segment. The premium beer will be paying tax at 37 baht/liter; 36 baht/liter for standard market and 28 baht/liter for the economy segment respectively. For the controversial advertising issue since last year was finally settled down in this year with the revised regulations allowing the product image to be on print media but without persuasive messages or any presenter. Also print media was required to put 25% caution message of the total area of the advertisement. And for the mass media especially on television, they had divided into 2 phrases. First phrase, the TV commercials during the 10pm were allowed to put up any logo of the brand to be shown for approximately 5 seconds, and for the second phrase, 30 seconds mark shots were allowed. These changes made had tremendous positive effects to the beer market. However, those regulations were not major obstruction for the beer market. Marketers tried to adjust and improve their strategies and tactics to come up with new way of advertising. Event Marketing was one of their strategies which effectively doubled up the frequency of use. In this year, the expansion of the total beer industry had constructed the 6% growth of both quantity and value. But if we carefully looked through the segments, we would found that the premium beer market had surprisingly decreased by 8%. These were caused by the psychological factors driven consumers’ behavior to decline; plus with the government regulation had made impacts on many brands to seeking for new ways to market their products since back in August 2006 which eventually projected the decline in many firms’ total sales volume. Year 2008 Nowadays, the beer market in Thailand is still holding the attractive market for the imported brands. From the current market condition, we can notice there are many international brands which are trying to penetrate into Thailand’s beer industry to capture their potential market shares; starts off with re-entering of Carlsberg S/A Company, Denmark with the brand ‘Carlsberg’ into Thai beer market; after they had left the Thai market for the last 4-5 years. This comeback of Carlsberg is driven by the their main company in the foreign country; by starting from having the San Miguel’s breweries factory in Pathumthani as their production site. In the meantime, their marketing team has already been put in place and been planning to start their first comeback marketing event in March; and follow with the officially introduction in June. Carlsberg is mainly focusing all their efforts in distribution channel and strategies more than any other aspects. Carlsberg will initiate into the hypermarket and position itself in the same level as Heineken. Apart from that, in March, Thai Beverage Marketing CO. ,LTD. lso has plan preparing the expansion the beer portfolio to cover all the potential markets. From having only Chang Beer and Archa Beer in the economy segment; Chang Light and Chang Draught in standard segment, therefore they have plan in launching Federbrau to penetrate in premium market. Asahi Asahi Super Dry was first introduce to beer market in Thailand in September 2002 by B&A Distribution Company Limited, one of the brands under Boon Rawd Brewery CO. ,LTD. Asahi was and still is the leader brand in Japan by having the most market shares in the beer market in Japan; by implementing the intensive distribution as their strategy, available to be purchased everywhere setting the price in the average range. Moreover, there has been improvement in the production procedure and logistics process in order to maintain the freshness and quality of the products and has tried to adjust the taste to be more preferable by Thai drinkers. They started out by focusing mainly on Japanese restaurants in order to construct the new customer base. By the year 2003, they have expanded more of their products into the common market including modern types of distribution channels like supermarkets, hypermarkets, and convenience stores etc. After some recession from the marketing strategies they had been implementing since the end of the year 2003; focusing on the taste of drought beer and plus with the innovative and futuristic of the products under the concept ‘Platinum Beer’ which derived from the sparkle silver-colored wrapped around the bottles and cans. But the selling point is somehow overestimated the perception of Thai drinkers. Therefore, in the year 2004, Asahi had decided to turn the other way around, back to its own origin which was Japan as the selling point along with the message of the bestselling beer in Japan by hoping the J Trend would eventually improve the Asahi Super Dry’s image. The result was quite successful; Asahi had captured the wider market share. By using J Trend, Asahi had effectively reached into the office workers which were employed in the Japanese firm or the group of people who have passionate in Japanese style including college students. Although there was not that large group of buyers, but most of them were likely to be identify as the middle class people, educated and have enough purchasing power. Year 2005 Asahi had decided to renovate the whole marketing strategy by turning to focus mainly on the concept â€Å"Think Difference† with â€Å"Color Marketing Strategy : Universally Communication†. They tried to emphasize on the silver strip on their products to create brand awareness, recognition and recall; distinguished from other brands in premium market. Source : B&A Distribution CO. ,LTD. /Prachachat : July 17, 2005) Later on, Asahi had captured more market shares especially the increasing in rural markets; 40% from the eastern and northern part and the rest 60% from Bangkok and Metropolitan. During the second semiannual, Asahi had set the marketing budget up to 120 million baht from the total 180 million baht in order to emphasize on below-the-line 70% and above-the-line 30%. Year 2006 Organizational management structure was rearranged; the management team from Boon Rawd Brewery had come in and totally taken places in all positions in Asahi by deviding the works into two major departments under 4 CEOs; 2 from Japan and 2 from Boon Rawd. Sales department was under the Boon Rawd management team and B&A would be taking care all of the marketing activities. Although there was major change in the management team, still they had not changed the positioning of Asahi and maintained its brand as international brand. San Miguel San Miguel first initiated into the beer industry by sponsoring in many golf competition; holding beer booths in many golf courses started from the middle of November and so on. Moreover, San Miguel had distributed their beers through many channels possible. However, San Miguel had the advantages over other competitors in terms of strong financial capability; therefore, San Miguel could use the turnkey operation; letting the 3rd party management team, which specialized in the particular kind of managing, to come in and run the business for them. Year 2005 San Miguel had decided to spend large amount of budget up to 375 million baht to settle down the contract with Pat-Kol Co. ,Ltd. in order to construct 95 rai of ‘Multi-Beverage Production Site’, which could be utilized to manufacture many kinds of beverage like fruit juice, drinking water, ready-to-drink tea/bottled tea, and also soft drinks in Amata City Industrial Park, Rayong. And debut its first brand of beer â€Å"Kirin† 2nd market leader from Japan. Year 2007 San Miguel had specified the marketing policies into major brands like San Miguel’s Low Calories Beer, San Mig Light as followed mandatory from the main headquarter. On the local market, San Miguel offered Blue Ice Beer as a standard brand and Red Horse Beer as an economy brand. These brands were already introduced to the Thai beer market for 2 years but they were intended just to test the market, and will be taken out of the market eventually. In this year, San Miguel had planned to emphasize more in below-the-line marketing; increasing from 60% to 70-80% mainly through pubs, bars, and restaurants in order to directly reach the right group of target; and decreased the above-the-line from 40% down to 20-30%. Moreover, they had planned to join with ‘Sugar Beet Restaurant’ in order to boost sales and build more brand awareness. Federbrau Thai Beverage Public Company Limited has just decided to introduce Federbrau into the premium beer market in order to fill up their beer portfolio. They have started off by distributing through on-premise channel like night clubs, pubs, bars since March by offering three sizes of products which are 630ml large bottle, 330ml small bottle, and 330ml can. These products will be further on distributing into another channel like supermarkets and hypermarkets. Feberbrau Beer is the imported brand from Germany; containing 4. 7% of alcohol volume which is the lightest taste provided nowadays like the word ‘Federbrau’ itself means ‘feather’. It is the first brand in Thailand which keeps practicing ‘Reinheitsgebot’, the law legislated in Germany allowing only 4 ingredients in brewing beer; water, malts, barley hops, and yeasts. Although the law has not passed the qualification of the EU, many breweries has still produced beer following this law in order to project higher standard than other manufacturer. Feberbrau Beer is being brewed by COSMOS Brewery (Thailand) Co. Ltd. , Wangnoi, Phra Nakhon Sri Ayutthaya. Federbrau has planned to position its product as the genuine German beer; offering new choices for consumers though Thai drinkers might not know the story behind their recipe; therefore, it is focusing on sending messages indicating the German-style and creating the adventurous sensation by using blu e color. They are mainly targeting the ages between the ranges of 22-35 who have self confidence, freedom lovers, and have their own lifestyles. For the regulation issues, there are many strict regulations on alcoholic beverages to be complied. But since Federbrau has clearly stated its position, it would not create any conflicts between the brands like Chang Light under Thai Beverage itself unlike the previous conflict between Chang and Archa. The marketing plan of Federbrau for the first 9 months will be mostly focusing on emphasizing on above-the-line rather than below-the-line; all kinds of media including billboard will be used to promote the brand awareness and brand recall by started off in the Bangkok area and then move on to nationwide through TV, radio, newspaper, shop decoration and also holding event to cover all potential market opportunities.

Boeing’s E-Enabled Advantage

Case Study _Boeing’s e-Enabled Advantage_ The Boeing Company is a major aerospace and defense corporation, founded by William E. Boeing in Seattle, Washington. Its international headquarters has been in Chicago, Illinois since 2001. Boeing is the largest global aircraft manufacturer by revenue, orders and deliveries and the second largest aerospace and defense contractor in the world. Boeing is the largest exporter by value in the United States. Boeing acquired this efficient aerospace technology through companies like Rockwell and McDonnell Douglas. They thus increased the number of contracts in the defense aircraft industry and now stood a better chance in the market. Boeing had to eliminate wastage and step up efficiency to cut unnecessary costs. So the procedures of parts ordering and scheduling were reshuffled. Additional proficient inventory management was necessary. The manufacturing process experienced a major change and there was less production delays than before which not only helped in keeping an efficient flow when it came to their supply chain but also helped in better customer service which of course helped them hold on to crucial market share. Gaining market share of course hugely elevated their problems of losing customers or market share to Airbus (who in order to turn away customers from Boeing had initially adopted the strategy to lower prices of their products). Of course the customers were airline companies. Boeing’s success depended directly on the success of those airline companies. The e-enabling architecture of the system has four underlying components: The Connexion by Boeing broadband data and Internet services system. Bibliography

Discussion about female vagina circumcision Research Paper

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Change Management - one best way - Assignment Example This acknowledgment was established to have basis prevalent ambiguity all through the segment activating an idea that change was required. (Seger, 2005) The centre of such change on directorial background materialises to have been influenced by facts of the noticeable achievement of other society organisation labours in the UK and US. An administrator asserts: The spotlight on society organisation shows to have been emphasises by the determined service of young UK skilled executives who are observed as both well-informed of recent UK leisure practice and thus important causes of contemporary information. These new work force appear to have established new thoughts into the business and have dynamically inscribed the merits of society administration-something the senior directors carefully planned a narrative cause of prospective gung ho benefit. (Olson, 2001) The NewTech change scheme involved a continuing twelve-month programme planned to change not only the procedures of the corporation but also the fundamental thinking of directorial affiliates. In this regard, it shows that the top administration of Isis Hotel Luxor maintained the progress of change centred on imposing purchaser dominion and escalating stages of purchaser direction. In spite of concerning considerable assets and time outlay, the pr... At the end of 1997 the proprietors of the corporation determined what they experienced required to be completed and applied the change over the subsequent year, as promptly as probable. The change programme did not have any stages as such, even though six months into the scheme an augmented stress was situated on altering lower-level employee viewpoint and behaviours. Early systems and structural changes were hurried through as easily as was probable. (Collins, 2005) The original changes leaned to centre on artefact changes whilst the same time as afterward changes were cantered on leisure hotel measures and humanising purchase-orientation. Dazzling a strong interior artistic centre, the four proprietors of the corporation powerfully supposed that the society change was required but that Isis Hotel Luxor should rely on internal work force and proficiency rather than exterior managers. Although some changes were derivative from other associations, top directors have always had the con viction that no outer help was essential for their execution. Instead, top administration disagreed that the comprehensive corporeal changes could be handled by top employees at the same time as leisure hotel directors would be capable to manipulate the behaviours and viewpoints of lower employees. Impacts of Change Research of interrogate facts divulge that the NewTech changed was apparent to have impacted on recital results, behavioural stakeholder interface as well as spiralling some usual accessible views. However, some inadvertent penalties of these changes also emerge to have distorted the views of Top executives. In conditions of recital results, Top personnel thought that the NewTech scheme had an

Astronomy Essay Example | Topics and Well Written Essays - 500 words - 8

Astronomy - Essay Example Astronomical units are used for any measurement which has a certain reasonable length that humans can attain or reach. Light-years are usually reserved for objects too far away to ever be reached by one human’s lifetime. Stellar magnitude is the size and direction of a star. This is basically the star’s displacement. The difference between absolute and apparent magnitudes is that absolute magnitudes are fixed, real-time figures of information—whereas apparent magnitudes are just estimates based on what the human eye can see. That is the difference between the two phrases. Hipparchus originally drew his magnitude scale using very rudimentary calculations and tools. Today’s astronomers have modified it slightly by using more advanced techniques and a much more modern approach to the magnitude scale. Now, physics students all over use the magnitude scale developed by today’s most advanced and talented scientists. A. Compare the Ptolemaic and Copernican models of the universe. State the main tenet of each theory; how they are alike or different, what evidence each used to support the ideas, and how each explained the retrograde motion of the inner planets. (150 words)†¨ The Ptolemaic model of the universe stated that the universe revolved around the earth. Copernican theory stated that the model of the universe which was correct basically involved the universe revolving around the sun. They are both alike in the fact that both models involved the universe revolving around something—it was just that Ptolemy got it wrong. The evidence that Ptolemy used to support his claim was basically, he didn’t have evidence. It was by royal decree that the ruler in power wanted the earth to be the center of the universe. The evidence Copernicus used to show that the earth revolved around the sun was the entity of the eclipse—showing that the

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Social Responsibility of a Business - Term Paper Example This famous claim by Friedman however triggered a debate on what the social responsibility of a business is. The businessperson Mackey disagreed with Friedman’s thought terming it as narrow and underselling humanitarian aspect of capitalism. Mackey strongly believes that the social responsibility of a business is not only to increase profits but also to create value for all the stakeholders in the business. Mackey argues that the social responsibility of a business to shareholders, society, and the stakeholders are varied and all are satisfied in different ways, which should be taken seriously by any kind of business to be successful. I strongly agree with Mackey that the social responsibility of a business is not only to increase profits, but also to satisfy the needs of the society, shareholders, and stakeholders, which are as well important. Social responsibility of business to stakeholders The stakeholders in a business comprise the community, employees, suppliers, and cli entele. According to Mackey (2005), all these stakeholders draw the meaning of the business in their own way of satisfaction. It is worth noting that the groups’ needs are varied as well and the needs are satisfied in different ways. ... Satisfied employees in any business will translate into efficiency and quality output, which are valuable assets to the business. The social responsibility of a business to employees include, good working conditions and attractive salaries and wages, social security such as insurance and pension schemes, better living standards among others. Suppliers are as well important to a business and therefore there is need for a business to satisfy the suppliers socially. Mackey believes that all the stakeholders in a business are important for a business to attain its goals. Suppliers supply business raw materials needed to produce certain goods or services and it is their responsibility as well to get the finished products close to the customers. For the smooth functioning of the business, the social function of the business is to give them a fair deal in the business. Social responsibility of a business to shareholders The shareholders in layman’s term are the owners of a business a nd the social responsibility of the business is to satisfy their needs. Although most shareholders majorly focus on increased profits, Mackey admits this though in a different perspective. According to Mackey, profits maximization should not be the soul goal for a business but the business need to put first the interest of the entire stakeholders. Mackey (2005) argues that by putting first the interest of the stakeholders by value creation, this will act as a means to an end. As the business works hard towards maximizing profits for the investors, it is important to bear in mind that by satisfying the customers and other stakeholders, the profits are likely to increase. The shareholders being the owners of

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John bull's other island - Essay Example al observer of ‘Irishness’ and his love-hate relationship with the English middle-class are played out by his two principal characters, Broadbent, a middle-class Englishman with a ‘colonial’ mind-set and the expatriate Irishman Doyle, who has no illusions about the Ireland of the early 20th century. A foil for the protagonists is added with the one-time priest Keagan, who is appalled by the impending land re-possessions. Regardless, Shaw has him acknowledge that maybe British efficiency may be better than ‘patriotic fools’. Shaw was somewhat dismayed by his critics failure to understand the character of Keegan, when he said â€Å"I shown the Irish saint shuddering at the humor of the Irish blackguard--only to find †¦ the average critic thought the blackguard very funny and the saint very impractical† (Shorter qtd. in Henderson 619). When the play was first performed, praise was copious - Edward VI was said to have laughed so much, his chair broke – but so was criticism, with Chesterton accusing Shaw of ‘being liable to fits of admiration for the British’, although condemning them elsewhere (Auden in Kronenberger 619) There had been other criticism and in response, Shaw allowed himself to be interviewed by The Tatler, stating that far from being frivolous, he had been deadly serious, showing †¦the Englishman to the Irishman and the Irishman to the Englishman, the Protestant to the Catholic and the Catholic to the Protestant†¦ taken that panacea for all the misery and unrest of Ireland (the Land Purchase Bill) †¦ and †¦ shown at one stroke its idiocy, its shallowness, its cowardice, its utter and foredoomed futility. (Shorter in Henderson 619). The reception of the treatment of the latter was even more mixed, which can only makes sense in the light of British ignorance of the Ireland of the early 20th century, with its large families, ‘progressively pauperized by primogeniture’, and its absentee landlords

Barbara Ehrenreichs Pathologies of Hope Essay Example | Topics and Well Written Essays - 750 words

Barbara Ehrenreichs Pathologies of Hope - Essay Example The purpose of  Ehrenreich's essay is to convince her readers that hope is being marketed as a glorified cure-all for every trouble in contemporary society. She aims to destroy the myth that hope is the key to happiness. Ehrenreich argues that hope has negative effects and advocates a more realistic attitude towards life. Ehrenreich’s criticism of hope as a universal remedy for life is valid, but her stand may not be applicable to every individual. Ehrenreich categorically declares, â€Å"I hate hope.† She regrets that the marketing of hope has become a major â€Å"self-improvement industry† in America, with self-help books, life-improvement coaches and motivational speakers establishing an increasing â€Å"Cult of Positivity.† Positive psychology takes on academic credentials with the emergence of courses in reputed college campuses. Ehrenreich concedes that the maintenance of an overtly positive attitude is all for the good of social interaction. However, she objects to the irrationality of clinging on to optimistic thinking, irrespective of the actual gravity of the situation. She equates such unwarranted hope as being out of touch with reality. She criticizes the pressure to hold on to a positive attitude â€Å"whether or not it is justified by the actual circumstances† (Ehrenreich). Ehrenreich points out that even the academically credentialed positive psychologists admit that â€Å"a healthy dose of negative thinking† is necessary for some situations, such as piloting an airplane. They also concede that their rules do not apply to people living under extreme conditions of stress, such as poverty of war. Ehrenreich extends these examples to other instances, such as car driving and child rearing. She disputes the validity of studies which claim to prove â€Å"the health-enhancing effects of positivity† and its contribution to happiness or success at the workplace.

Protein Supplements for Enhancing Sports Performance Essay

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HOMEWORK 8 Essay Example | Topics and Well Written Essays - 250 words - 1

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Truman Show Essay Example for Free

Truman Show Essay Jim Carrey’s complex upbringing has led to a niche in cinema for him that can’t be described as anything else but one of a kind.   While he started his career in Hollywood off being recognized mostly as a funny man, he soon expanded this persona with his performances in such films as Eternal Sunshine of the Spotless Mind, The Majestic, and recently the highly acclaimed 23.   Many critics consider Carey’s decision to take on the role of Truman in The Truman Show as the focal point of his expansion of the comedic archetype.    This essay attempts to assess what is so significant about Jim Carey and his particular performance in The Truman Show. Jim Carrey has been famous for his roles as a comedian since he first hit the big screen in the early 1990’s. He was born in Canada on January 17, 1962. He started working in the 80’s, at small comedy clubs. Carrey moved from Canada to Los Angeles in the 80’s to try and get more work. His biggest break was in 1994 with the comedy Ace Ventura: Pet Detective. He continued making slap stick comedies in the years to follow, including Dumb and Dumber, The Mask and Liar Liar. In 1998 Jim Carrey took on the role of Truman Burbank, a role that would change his career and audience perception of him. Not only was The Truman Show making Jim Carrey step away from his slap stick, low comedy side, he was experimenting with a much darker comedy. This shocked his audience at first because everyone assumed any film Jim Carrey was in, had to be laugh out loud funny. No one had seen a darker side of him. After The Truman Show, Jim Carrey accumulated a much larger fan base. People became fascinated by the ideas and themes that The Truman Show addressed. Jim Carrey continues making people laugh all over the world. People will flock to his comedic movies because they know that they will always have a sense of Jim Carrey humor. He has a way of acting that is all his own. The films he stars in, not only draw a huge audience, they also have an affect on his audience.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This essay will look at Jim Carrey as a comedy comedian, with specific focus on his darker comedic role in The Truman Show and its affect on society. Although The Truman Show is considered a comedy, its themes touched on issues that in the 90’s were still unaware to most people. The idea that someone was always watching scared society. Webcams, and reality television was still new and being developed. The thought of watching other people’s lives wasn’t interesting to society yet. The only shows that were considered reality were â€Å"Cops† and MTV’s â€Å"The Real World.† These followed regular people around and showed them doing everyday normal things, like eating, shopping and seeing friends. This began to fascinate and attract people; and once The Truman Show came out it sparked a chain of shows surrounding the idea of ‘Big Brother,’ we are always being watched. Within a short people of time reality television and media started to run our lives. As the 90’s progressed Jim Carrey’s comedies went from slapstick humor to more serious humor. The Truman show questioned if Jim Carrey would remain a comedian comic or take on the role of more versatile actor. He was originally known as a funny guy, who couldn’t be taken seriously. Once he took on roles that still had comedic aspects but had a lot more depth he was able to reach a larger audience and impact more people with his versatility. He shows that there is humor in the most dramatic situations and his classic comedic timing only further enforces his ability as an actor.. All the reviews I read categorized The Truman Show as high comedy. Jim Carrey’s actions are funnier then what is actually happening. Very often his facial expressions and actions imply a deeper, or even darker meaning than what is on the surface.   The theme of the movie is much deeper and more profound than one might want to initially think.. This is partly why Jim Carey has been able to command so much money at the box office.   His ability to connect with audiences of all ages has much to do with his highly animated performances combined with their adult implications.   Reviewers were shocked at first to see Jim Carrey in such a serious role. In a review on time.com title â€Å"Smile! Your life’s on TV† the article said once the script was sold the producer took the script straight to Jim Carrey because â€Å"Jim had the kind of madness the project needed to ultimately get made. His warmth was a hedge against a movie that could have been on the cold side and needed someone with audience sympathy(Corliss). The underlining theme in the film is finding yourself and finding your true identity and Jim Carrey does this in a way that he brings comedy and seriousness to the role. This is a very mature concept, and one that might not always be expected from a comedian.   In most reviews, reviewers agree that Jim Carrey carries the movie. One reviewer said, â€Å"For Carrey detractors who are easily turned off by the comic’s rubber-faced antics, The Truman Show proves to be an eye-opener. Not only does Carrey remain rigidly-controlled and reigned in, but it would be fair to call his performance both understated and effective†(Berardinelli, James). When reviewers are commenting on comedy, especially any comedy Jim Carrey is in the reviewer assumes it is going to be a laugh out loud comedy. When they walk into a Jim Carrey movie, whether it is serious or not they are always in hopes of escaping into a world full of laughter. He turns every role he has into a character, because that is what a comedian comic does when he acts. Audiences always react positively to Jim Carrey’s comedic characters. It is only when he stars in serious roles that his audience begins to question him. In many reviews for The Truman Show rarely do any of them come out and say that the film is a comedy. One review I read brought up questions about the film and one of the questions was, â€Å"how badly will marketing The Truman Show as a comedy hurt the movie when viewers realize that’s not what it is†(Berardinelli, James)? Reviewers do not give an exact definition for comedy when they are talking about The Truman Show. On a review on IMDB a reviewer says, â€Å"No, it’s not a comedy, wellnot exactly.† I didn’t quite understand until I watched it myself. Truman takes on a tone quite different than any parody/comedies I’ve seen lately†(IMDB). Jim Carrey’s versatility draws even more audience and fans. He has now acquired an even larger fan base. The marketing controversy behind The Truman Show stems from the fact that western audiences are accustomed to seeing Jim Carey as a comedian.   The irony of this that it creates a dual conflict of identity both for Truman and for Carey and the way he is perceived by the public.   The film has multiple layers of understanding of what it means to be both a comedian and a hero. In Krutnicks, Hollywood Comedians, The Film Reader the Steve Seidman essay â€Å"Performance, Enuciation, and Self-Reference in Hollywood Comedian Comedy† talks about Comedian comics. The essays talks about the origins of the comedian comedic. Comedian comedy comes from show business, such as vaudeville. This type of performance acknowledges the audience. Where as a film draws the audience into another world, vaudeville included the audience or made the audience aware that they were watching a show. This is the way a comedian comic acts. They use a lot of big over the top gestures to make something comedic. In The Truman Show Jim Carrey begins to suspect something is weird in his life and begins acting strange. He starts to speak to the ‘camera’ although he doesn’t realize it is a camera. He is acting towards the audience and making them realize they are watching a movie. Jim Carrey does an excellent job at this because he has worked as a show business performer since he first started as a stand up comedian. Jim Carrey is a comedian comic and he steps outside his usual comedic role to play Truman Burbank. He tries his hand at playing a darker comedian. This sparked a series of films were Jim Carrey took on less comedian comedy films. In the end, Carey’s experimental work enhances the depth of his comedic performances.   Carey’s wide eyed zaney antics come off as borderline rational when he is put into situations similar to the Truman character.   In many of his films he has the boyish charm of a man discovering the world for the first time.   In The Truman Show this is exactly what. The Truman Show brought about a lot of controversy after it’s debut. It questioned the sanctity of identity. In Gary Panton’s review on The Truman Show he says, â€Å"It’s an exploration into the idea that we always accept the reality of our surroundings without question.† Once the movie came out people began to question their place, role, and effect in life. They wanted to find their own identities and who they were, because Truman is searching for his identity throughout the whole movie. It raised a lot of questions about who we where and who was watching us. It questioned society’s identity and whether they were safe. They used dark comedy to bring light on an important issue. Having Jim Carrey in the movie alone made viewers assume the film would be comedic. I think by him being in it, it was a comedy. His body language and acting is always comedic. Throughout the course of the film they used comedic tricks to make Truman question where he is. At one point a piece of the lighting set falls from the sky on to Truman’s street. Another example of comedy that they use is when Truman is on the beach and it starts to rain, but to Truman’s surprise the rain storm is only over him and if he walks a couple of feet away he is out of the rain. The Truman Show came out before the huge increase of reality television. After the movie came out reality television skyrocketed. Many of the shows were based on the ideas that came from The Truman Show. As opposed to people not knowing they were being filmed, they knew and were trying to find their identity in front of a camera crew. Most shows set up cameras all over a house or had camera crews follow a person around. This reflects the actions of when Truman finally realizes he is being filmed. He behaves as though he is aware of the camera. This is what reality television stars do. None of these shows are seen as being serious.   Much of this parallels the relationship between the media and the public a complex conflict that has undergone much scholarly debate. One scholar in particular who is considered an expert on many of the conflicts depicted in The Truman Show is Pierre Bourdieu. In all of Bourdieu’s beliefs, his most popular is his assertion that the public does not exist (1984).   This concept is addressed in his book, Distinction: A Social Critique of the Judgement of Taste, in that he feels there is a different of class taste between the ruling class and popular culture.   But, within this conflict, there is no public, only a media mediating between the two and a culture to which they often cater to do so.     In John Fiske’s critique on television, Television Culture he analyzes the nature of what makes popular television.   He concludes that the shows that succeed in gaining popularity tend to have many symbols and plot lines containing multiple meanings.   He also states that remain within a duality of containment and resistance (1987). This idea basically revolves around the fact that television producers, who are viewed as the upper class and political elite, are expected to produce material that correspond with popular culture.   This material that the elite minority culture produces for the popular culture contradicts elitist ideals but allows the status quo to remain intact.   This means the political elite can only remain the elite so long as they humor the beliefs and ideals of their less powerful but more dominant counterparts. The rules Fiske establishes for television shows can very easily be applied to the media.   They present the media as a tool being used to prey on the wants and needs of different cultures.   Another media technology that isn’t always addressed is the literary outlets in societies.   This is undoubtedly the reason that Pierre Bourdieu is an acclaimed literary theorist as well, addressing such theorist as reader response theory. The Truman Show talks about social power. It talks about the power that the media have over people. The show is controlling on a larger scale to peoples lives, who spend their life watching it and on a smaller scale the people creating the show and controlling everything Jim Carrey does. The Truman shows creator Christof is controlling what everyone is seeing and saying. He plays the â€Å"God† of Seahaven, the made up town that Truman lives in. There is the outside â€Å"real audience† watching the show and then there are the actors in the show and then there is us, the audience watching the â€Å"real† actors, watching Truman. We are always being controlled. David Thomas and Garry Gillard’ article titled, â€Å"The Truman Show and the programming of reality,† mention this when they say that the film â€Å"poses important questions of identity and reality, because of the way the film uses both diegetic and non-diegetic audiences. This highlights the boundaries between real people, actors, fictional audiences and ‘real’ audiences, and how they are skewed and confused by The Truman Show.†Ã‚   The film also addresses certain concepts of national identity. The idea behind national identity is that one defines their self through the identity of their nation.   In their article, National Identity and Self-Esteem, Jeff Spinner-Halev and Elizabeth Theiss-Morse analyze the nature of national identity.   They adopt the theory that if the self-esteem of an individual is tied to their nation than it’s the perfect proponent to maintain safe and secure nations.   They feel that there is an immediate connection between self respect and group identity; so much so, it could lead to one sacrificing their own personal needs for the good of the group.   They also acknowledge that there is a competitive nature within group self esteem; this meaning that most groups want their group to do better than others.    This is often seen in the patriotic nature of political propaganda, carried out by many countries to convince soldiers to go to war.   This system of control is one known for cajoling groups to fallow a certain program or way of thinking by catering to individuals’ wants, needs, or taking advantage of their fears.   This complex of national identity is a major aspect of a government’s societal control, as well as a significant ideal satirized in The Truman Show. It is most visibly personified in the character of the show’s producer Christof.   He argues that human beings accept the world in which they are presented, and uses this to justify why Truman hasn’t figured out his predicament up to this point.   All of the employees, of the studio, acting as Truman’s family, friends and extras living within the town, can all be viewed as nationalists to the studio’s regime. The National Identity of these films can be directly corresponded to the culture and history of New Zealand.   In 1945, the New Zealand Film Critic Gordon Mirams argued that if there was a New Zealand culture, it was a mostly a Hollywood creation. The only thing more popular than going to the movies, in New Zealand, was drinking tea, during that time period. This idea is supported by the statistic that for many years New Zealanders were the most frequenters of the movie world.   In their book New Zealand Film 1912-1996 Helen Martin and Sam Edwards analyze the filmography of many films produced during this century in New Zealand. This book basically analyzes the entire history of film in New Zealand.   The two authors managed to find more than 162 films.   In formulating their list and deciding on what they would identify as New Zealand Films, they decided the film had to have a significant connection to the location in terms of the film’s creators, cast, copyright holder, financiers, production team, and technical equipment. They also felt that a film that holds a sociological connection to New Zealand should be categorized as a New Zealand films as well.   Thus, they included The Piano in their list of films pointing out that though it was not filmed in New Zealand, its story was still set there.   The authors also felt it the film addressed social issues pertaining to the history of New Zealand within the time frame it was set. In the 90’s when The Truman Show first came out reality television was very rare. No one put their videos on the Internet or had video chats. In one article I read â€Å"The world is watching† by Jennifer Tanaka she writes about a couple who place a web cam in their new born daughters crib. They connect it to the Internet so their friends can go online and see the baby and watch her grow. They didn’t think anything of it until they began receiving emails from people they didn’t know telling them how cute their baby was and how they loved the idea of the wed cam. They still didn’t really think anything of it, except it was flattering. They watch The Truman Show and immediately disconnected their web cam. They realized what they were doing and didn’t want their baby to have people watching her like Truman. It wasn’t until a movie like The Truman Show that brought light on a media obsessed and driven world. It has only gotten worse from there. With the increase in a media obsessed culture, reality television has become a historical landmark of our generation today. In Gary Panton’s review, I think he makes a good point when he says, â€Å"The scary thing is that for us, the â€Å"Big Brother† generation, the notion of a 24-hour TV prisoner really isn’t all that far-fetched. Perhaps the birth of a real Truman isn’t as far into the future as we might like to think.† The Truman Show poses an argument larger than itself in respect to national identity, only this film speaks more metaphorically.   The idea previously posed in National Identity and Self Esteem, was that national identity is largely the product of a model that is followed by a group of people.   These people are so caught up in the ideals of the group, they rather sacrifice their own individual comforts for the good of the team.   The authors found that these groups are also very competitive with one another, identifying their identity with that of the group and basing the groups identity on their contrast from other groups.    This becomes very relative to some of Rene Girard’s views.   In his seminal theory of mediated desire Rene Girard argues that human desire is imitative.   His views is that the goals we hold most personal are actually the desires of others which we want to achieve because others want to achieve them. This is very compatible with the ideals of national culture and the cult group fallowing it incites.   This is also seen constantly in The Truman Show, the main motivation for Truman to escape the studio/town is to travel to Fiji after his one true love.   If the character personifying his school crush had never desired to move there, Truman would have never desired to follow.   This is a direct personification of Girard’s theory, as well as an example of Morse and Halev’s version of national identity. Work Cited Adorno, Theodor W. and Max Horkheimer. Dialectic of Enlightenment: Philosophical Fragments. 1947. Trans. Edmund Jephcott. Stanford: Stanford UP, 2002. Belton, John. American Cinema/American Culture. New York: The Corporation for Public Broadcasting and New York Center for Visual History, 1994. Bourdieu, Pierre. (1984) Distinction, Cambridge, MA: Harvard University Press. Chatman, Seymour (1978) Story and Discourse: Narrative Structure in Fiction and Film (Ithaca, NY: Cornell University Press). Cheshire, Ellen. Jane Campion. Great Britain: Pocket Essentials, 2000. Eric Young (Executive Producer). (1998). Hows It Going To End? The Making of The Truman Show, Part II [DVD (Special Feature)]. Paramount Pictures Home Entertainment. Fiske, John (1987) Television Culture, London: Methuen. Fiske, John (1992)  ªPopularity and the Politics of Information º in P. Dahlgren and C. Sanes, Ken. Truman as Archetype. Transparencynow.com. 1996-2001. 29 July 2004. http://www.transparencynow.com/truman.htm. Simons, Jon (1997)  ªThe Dialectics of Diana as Empty Signifier º , Theory Event, 1(4). http: //muse.jhu.edu/journals/theory_and_event Simons, Jon (2000) Ideology, Imagology, and Critical Thought: The Impoverishment of Politics, Journal of Political Ideology, 5(1), 81 ± 103 Slavin, John (2002) Lost causes : the ideology of national identity in Australian cinema. PhD thesis, Department of English, University of Melbourne. Sparkes (eds) Journalism and Popular Culture, London: Sage. Minow, Martha. (2006) Not Only for Myself Identity, Politics, and the Law. New P, 1997. Chapter 2, Identities. 8 Dec. 2006.

Can and Should Culture Be Managed Essay Example for Free

Can and Should Culture Be Managed Essay Organizational culture is defined as collective behavior that consists of artifacts, exposed values and basic assumptions (Schein 1997). From this definition, three levels of organizational culture are derived. The first level is artifacts or tangible elements to the organization which comprises of the architecture, technology, products, furniture, style, dress code and language. It is recognizable when visibly observed but does not reflect the organizational culture. The second level is in the exposed values or beliefs that employees express in organization which includes the mission statement, customer service and loyalty. This behavior can be studied by using surveys and discussion to gather attitudes of the organizations’ members. The third level is the basic assumption which is the most important level as it shapes the organization’s view and decision making. The norms or the unspoken rule exists without the awareness of the members which cannot be observed or surveyed and therefore it is difficult to draw out this characteristic By understanding the definition of culture, there are two sides of the argument on whether the culture can be managed (mainstream perspective) and whether culture is something that an organization is that cannot be managed (critical alternative). (Brewis, J ch. 9). In the mainstream perspective it shows that the management is able to change its culture, which often referred to as cultural engineering (Jackson and Carter, 2000, p. 27-28) and a clear example is shown in the case study of British Airways, 1982-1996 (Brewis, J ch. 9 p349). The merged between British Overseas Airways Corporation (BOAC) and British European Airways (BEA) caused a clash of culture and internal conflicts. The BOAC offers services for higher class passengers whereas BEA is for lower class passengers i. e. Tradesmen. Due to the clash of different classes of services, there is an internal conflict in the management culture which resulted disastrously and sales are declined.

North Carolinas Position on Vaccine Preventable Diseases

North Carolinas Position on Vaccine Preventable Diseases In Northern Carolina, it is very difficult to find diseases that are preventable through the use of a vaccine. This is because of an efficient vaccination program that normally targets its citizens at a younger age, as well as a constant monitoring of the emergence of diseases that are preventable through vaccination programs. It is the philosophy of the State of Northern Carolina to continuously vaccinate diseases that are also under control, for purposes of ensuring that they do not re-emerge. This includes diseases such as polio and measles (Department of Health, 2014). Furthermore, the health department of Northern Carolina would always seek to ensure that the vaccination record of a child is checked once the child under consideration enrolls in a school, or a child care facility. It is important to provide an explanation that a child is not allowed to enroll in a school, whether it is private, religious, or even public without the same child receiving all immunizations that are appropriate and useful for their age. This policy is aimed at reducing the chances of a child to acquire diseases that are preventable through vaccination, as well as reducing the chances of such a disease spreading to vulnerable children. It is the following ailments that the state of North Carolina actively vaccinates its citizens against, HPV, Hepatitis A, and B, Diphtheria, Anthrax, Influenza, Mumps, Rabies, Tetanus, Typhoid, etc (Department of Health, 2014). Furthermore, for purposes of turning this vaccination policy into a success, the Government of North Carolina has developed a vaccination schedule that all health care agencies must follow while vaccinating children under the ages of 18 years. This schedule contains the identification of the ages in which children are supposed to be given certain doses of the vaccine, and identifies the type of vaccine to be administered. These vaccination schedules do not only identify the vaccination programs of children, but they also identify the vaccination programs of adults. Cohort Study Data: In the medical field, a cohort study is always used to obtain evidence for purposes of disapproving the existence of an association between the causes and effects of a disease or medical condition. It is important to provide an explanation that by failing to disapprove an hypothesis, then chances are high people will start having confidence in it. It is important to understand that the cohort study can be a useful method in reporting on HPV, and tracking the disease. This is because scientists will identify a particular group of people, who are not infected with the HPV disease and thereafter conduct a study on the people who acquire the HPV disease (CDC, 2014). This would help in coming up with the characteristics and behaviors of these people, and hence develop a plan, based on their behaviors and characteristics on how to treat, as well as prevent the development and the spread of the HPV disease. It is important to provide an explanation that the results of the cohort study regarding the emergence of HPV are accurate, mainly because this study has been conducted over a long period of time, and data has been collected at regular intervals, reducing any chances of errors. A cohort study can also be used for purposes of analyzing the effects of HPV on the victims and the society, and thereafter provide a report on the best methods of minimizing the effects of these medical condition on the society. Take for instance; various findings from cohort studies indicate that stigma is one of the associated effects of HIV AIDS (CDC, 2014). On this basis, conducting a cohort study will enable policy makers to know the effects of HPV on the society, and hence come up with ways and means of solving the problem. It is important to understand that a cohort study will identify the environmental agents that play a role in accelerating the negative impact of HPV. Without this knowledge, it would be impossible for policy makers to come up with a solution on how to tackle the negative effect of HPV on an individual, as well as the society. Finally, researchers can use the Cohort study to calculate the exposure of risk in contaminating HPV that different groups have. This is because the cohort study will start by studying people who are not infected with HPV, after which it will study the people affected with the HPV, from the same group. This would help the researcher to come up with a report that calculates the absolute, relative, and attributable risks of people. Policy makers can thereafter use these calculations for purposes of developing a policy aimed at preventing the spread and emergence of HPV. Efficacy of Cardiovascular Diseases: Cardiovascular Diseases includes diseases such as stroke, heart attack, and other ailments of the circulatory system. In Northern Carolina, stroke and heart diseases contribute to the fourth and second largest killer diseases or ailments. In total, cardiovascular diseases were the largest killer diseases in Northern Carolina. This was as per the statistics of the year 2012. It is important to provide an understanding that the mortality rates in Northern Carolina are higher than the national average mortality rate. However, over the years, the differences between these rates have reduced, with North Carolina depicting a decrease of more than 50%. For instance, in the year 1979, the mortality rate of North Carolina due to cardiovascular diseases was 555 deaths, for every 100,000 people. This reduced to 242 deaths, for every 100,000 people. Furthermore, over the last ten years, the mortality rate due to cardio vascular diseases in North Carolina has remained equal with that of the average national government (Government of North Carolina, 2014). This is an indication that the strategies employed by North Carolina to prevent the spread, as well as the emergence of these diseases are taking shape. Despite these improvements, the rate of stroke in North Carolina is very high in the United States as a whole. North Carolina has the 10th largest mortality rate of stroke in the country. On this basis, there are efforts of reducing the emergence of stroke in the country, and this is through improving an access of gaining services in caring for the patients with stroke, as well as initiating preventive measures such as education forums that promote healthy living. Furthermore, to increase efficiency in further reducing the emergence of cardiovascular diseases, there is a need of following the following steps; Carrying out education clinics for purposes of educating the public on the need of healthy living, and using proper diets. Sponsoring research, for the main aim of developing new methods of fighting the disease as well as treatment methods. Partnering with the local communities, and all stakeholders of health, for purposes of coming with suitable measures of preventing the occurrence and spread of the disease. Improving the health sector, through building of more hospitals, training medical experts who specialize in this field, as well as improving an access to medical facilities in the state. Making it mandatory for people to be medically screened on a monthly basis. Steps to take when utilizing Cohort study design in following CVD: There are four important steps to take when utilizing a cohort study design in following the emergence of the disease; these steps include the following (Community Guide, 2014), Describing the situation: This involves providing a description on the intentions of the cohort study, the type of people used for purposes of the study. Furthermore, this step involves identifying the patterns, as well as the frequencies of the occurrence of the disease in terms of person, place and time of diagnoses. Examining the Determinants: This involves the search of the factors or causes that has been associated with an increase in the probability of the development of the disease. This involves asking questions such as what, who, where, and when. Furthermore, this also involves asking questions such as why, and how. Health Related problems. Identification of other health related problems that relate to the emergence of cardiovascular diseases. This is for purposes of developing an effective design that will be effective in serving its purpose. Population; Identifying the right population, who are not infected with the disease, for the purpose of conducting the cohort study. It is important to understand that a right population matter, in the sense that they would determine whether the study is successful or not. References: CDC. (2014, March 20). Genital HPV Infection Fact Sheet. Centers for Disease Control and  Prevention. Retrieved May 24, 2014, from http://www.cdc.gov/std/HPV/STDFact-HPV.htm Government of North Carolina. (n.d.). Chronic Disease and Injury Section. DPH:. Retrieved  May 24, 2014, from http://www.publichealth.nc.gov/chronicdiseaseandinjury/ Department of Health. (n.d.). Vaccine Preventable Diseases. NC DPH, WCH: Immunization:  Family:. Retrieved May 24, 2014, from http://www.immunize.nc.gov/family/vacc-prev.htm Community Guide. (n.d.). Cardiovascular Disease Prevention and Control: Team-Based Care to  Improve Blood Pressure Control. The Community Guide-Summary-Cardiovascular Disease: Team-Based Care to Improve Blood Pressure Control. Retrieved May 24, 2014,  from http://www.thecommunityguide.org/cvd/teambasedcare.html

Essay examples --

Basis Risk As discussed, Metallgesellschaft AG made use of the ‘stack and roll’ hedge strategy. This strategy brought about basis risk, the risk of no direct relationship between movements in the futures market and movements in the longer maturity contract. What Went Wrong? In 1993, oil prices began to plunge because of a bearish market signal. The value of the futures purchased decreased drastically and the market reversed from backwardation to contango. From Backwardation to Contango Another issue, which compounded MG’s problems, was the shift of the oil market from normal backwardation to contango. Refer to Figure I for a better understanding of these concepts. In normal backwardation, the strategy worked fine, however the contango market created losses that were unrecoverable and the longer the market stayed in contango, the losses continued to accumulate on the rollover. Had the market stayed in normal backwardation, MGRM hedging strategy would have been highly profitable, making a gain on all rollovers. MGRM’s main undoing was that the rollover loss was unrecoverable and not offset by another position. Although the contango market was not the only cause for MGRM problems, it did help to compound the cash flow crunch of the company. The main people responsible of such losses will be discussed later. The Company’s advisor, Deutsche Bank, convinced Metallgesellschaft AG to close all positions, taking $1.5 billion in losses, with the aim to prevent additional losses. As can be seen from the Figure II below, Deutsche Bank should have been calmer as the market rebounded with oil prices starting to soar in 1994, an increase of about $8 dollars per barrel in few months. This increase would have highly benefited the MGRM... ...vernance Metallgesellschaft AG should have ensured that the parent company’s traders and MGRM’s employees worked on behalf of the shareholders’ interests. Instead of undertaking a reasonable hedging strategy, Metallgesellschaft AG traders were motivated by big bonuses opportunities, resulting in a more reckless speculative strategy and as a result developing the company into a financial intermediary. Their users, such as employees, creditors, and supervisors, had to fully understand the purpose of the hedging strategy. This was highly important since the hedging program should not be separable from the business strategy. Conclusion To conclude, the main motive of the losses sustained was the minimal study made on the hedging strategy before adoption. Metallgesellschaft AG should have thoroughly analysed the market before entering into such a big hedging program.

Comparing William Shakespeares Sonnet 18 and Sonnet 130 :: Compare Contrast Comparison

Sonnet 18 and Sonnet 130, by William Shakespeare, are two of the most well known Shakespeare sonnets. Both are similar in theme, however, the two poems are very much contradictory in style, purpose, and the muse to who Shakespeare is writing. Both Sonnets have different styles. Sonnet 18 is a much more traditional poem, showing the reader a picture of his muse in the most divine way. Shakespeare uses a complex metaphor of comparing his subject to the summer, but at the same time making it easy to understand. The poet goes as traditional as possible; his friend surpasses the beauty of summer, as summer will fade and turn to winter. Sonnet 130 is just as easy to understand as the former. The use of straightforward comparisons that go from line to line, instead of one metaphor elaborated through the entire poem, makes this sonnet quite different in style. Sonnet 130, in contradiction to Sonnet 18, purposefully branches off from the traditional romantic love poem for he does not describe the subject as a true beauty but as his true love.   Ã‚  Ã‚  Ã‚  Ã‚  The two poems do seem to have a similar theme; both are focused around describing the poet’s muse. However, Sonnet 18 is not about love at all—Shakespeare makes no reference to love in the poem; he is merely describing how beautiful this individual is. Sonnet 130, on the other hand, is a true love poem, making direct mention to it in the couplet: â€Å"And yet, by heaven, I think my love as rare / As any she belied with false compare.† Surprisingly enough, Sonnet 18 shows more the love Shakespeare has for himself and his writing ability. In the last three lines: â€Å"When in eternal lines to time thou growest: / So long as men can breathe or eyes can see, / So long lives this and this gives life to thee.† he is basically saying that in his eternal verse his muse will forever live. And although the couplet is sweet, a different approach to its meaning would be: â€Å"As long as people can read, they will read my poetry!† Sonnets were created to show-off a poet’s skill and not their love—in Sonnet 18 it is most apparent.   Ã‚  Ã‚  Ã‚  Ã‚  The sonnets are similar in that the subject who which Shakespeare is writing is very dear to him. The most over looked difference, however, is who the subject actually is.

Fear in One Flew Over the Cuckoos Nest and The Scarlet Letter :: comparison compare contrast essays

One Flew Over the Cuckoo's Nest and The Scarlet Letter To Live With Fear   Ã‚  Ã‚   To live with fear and not be overcome by it is the final test of maturity. This test has been "taken" by various literary characters.   Chief Bromden in Ken Kesey's One Flew over the Cuckoo's Nest and Reverend Arthur Dimmesdale in Hawthorne's The Scarlet Letter both appear to have taken and passed this test.   Ã‚  Ã‚   It first seemed as though the Chief was going to fail this test of maturity in the mental ward that he was committed to.   He had locked himself up by acting deaf and dumb.   He had immense fear of the "Combine," or society, that ruined things and people and treated them like machines, giving orders and controlling them.   Soon enough to "save" the Chief, McMurphy arrived. He was lively, and not scared;   the complete opposite of the Chief.   This courage eventually passed on to the Chief.   At a meeting, when McMurphy was holding a vote to prove that the patients wanted to see the World Series, the Chief voted for it.   At first he said that McMurphy controlled his hand.   Later on he admitted that it was he who raised it. He even talked to McMurphy one night, and began laughing at the situation at hand.   One day when McMurphy and the Chief tried to help another patient who was being taken advantage of by orderlies, they were caught and sentenced to electro-shock therapy (EST).   The Chi usually blacked out in a fog when confronted with problems;   however, this time (he had endured over 200 EST sessions previously) he did not.   However, McMurphy was deteriorating, and the two seemed to be reversing positions.   McMurphy eventually was sentenced to a lobotomy, which left him as a helpless, pathetic person, as the Chief had once been.   The Chief now had the courage to put McMurphy out of his misery, despite what the head nurse, Nurse Ratched, the symbol of the combine to the Chief, would do to him.   He smothered McMurphy, and afterwards, escaped by lifting the control panel, which McMurphy told him that he could lift but the Chief saw himself as "small," a symbol of his strength against the combine, and breaking a

“My Place” by Sally Morgan Essay

The longest journey of a person is the journey inward, Dag Hammerskjvld. An inner journey is a powerful voyage of the mind, soul and spirit that impacts on all aspects of a persons life. Inner journeys provide personal, spiritual and intellectual growth and development. Experiences that allow personal development and growth will change the way that some aspects of life is viewed. Daisy and Gladys embark upon inner explorations about acceptance of their aboriginality, their spiritual identity as aborigines and their self esteem/ self worth. Gladys faced many challenges and obstacles in her life. At Parkerville children’s home Gladys resented the colour of her skin. â€Å"I wanted to be white; I even hoped a white family would adopt me†¦Ã¢â‚¬  Gladys’ fear of authority and her aboriginality stemmed from her mother Daisy. Upon confessing her nationality, an old lady exclaimed â€Å"Oh you poor thing†¦What on earth are you going to do? †¦ Mum told me I must never tell anyone what I was, that was when I started wishing I was someone different†¦ mum made me really frightened, I was really scared of authority.† This use of verbatim gives a subjective viewpoint of a character. It gives its own individuality, speed and rhythm to Gladys’ story. Throughout the book Gladys moves from denial to a passive acceptance of her aboriginality to pride. â€Å"I feel embarrassed now to think that once I wanted to be white†¦I’ve changed since those days† The natural vernacular used by Gladys gives her story individuality and through the use of everyday language positions the wider audience to respond to the story. Her changing viewpoint about her preferred skin colour signifies personal growth and development as she is now accepting herself holistically rather then in fragments. Daisy’s life has been scarred with physical and sexual exploitations and hardships. â€Å"I’m ‘shamed of myself, now. I feel ‘shamed for some of the things I done. I wanted to be white; you see†¦what was wrong with my own people?† The emotive use of verbatim with words such as â€Å"‘shamed† create an individual speech pattern for Daisy’s story and adds veracity. The comparison between what she feels now and what she felt previously show inner growth and self exploration. Saying that she wanted to be white and now acknowledges and appreciates the fact that she is black is a big  positive and progressive step for Daisy. â€Å"†¦he told us we must save ourselves for marriage. Most of us had already been taken by white men. We felt really ‘shamed†¦ There I was stuck in the middle. Too black for the whites and too white for the blacks.† Daisy held little control over her life; she was constantly downtrodden and made to feel like a second class citizen or half human. â€Å"Sal the fights gone out o’ me. I got no strength left†¦Blackfellas got to show the white man what they made of. I like to think the black man will get treated same as the white man one day†¦Ã¢â‚¬  Daisy lets go in the end because she finally accepts her aboriginality. The emotive language used positions the audience to respond with empathy. My place as well as the inner journeys of Daisy and Gladys has taught me many valuable lessons about journeys. I learnt that not all inner journeys result in wholeness and attainment. Though I also learnt that even a small amount of personal growth and development can change and impact upon a person tremendously. Inner journeys involve self exploration in which individuals review their growth and development in the light of experiences which challenge and test them. Inner exploration can provide clarity, direction, increased self esteem and better insight into oneself, others and the surrounding world. Gladys and Daisy both experience inner journeys as they explore their aboriginality and themselves. The women both learn adapt and change as they survive through numerous challenges and obstacles transforming into more wholesome people.

Research on Atlas Honda

OXFORD BROOKES UNIVERSITY An summary of the pecuniary place of book of maps HONDA Ltd. Introduction The topic chosen by me for the enquiry and analysis get a line is AN ANALYSIS OF THE FINANCIAL SITUATION OF YOUR option OF ORGANISATION. The reason for choosing this topic is that I am re anyy comfor set back with fiscal techniques and manners that ar employ to accommodate stunned pecuniary analysis. Financial functions c from for each one one everywhereed in ACCA discriminate 1 and 2 were of find come on evoke to me.The organization selected for the pecuniary analysis is ATLAS HONDA LIMITED being the commercialise drawing card in the bike effort in Pakistan. The corpo dimensionn attracted me to be selected for the project be pretend the smart set is the leading companionship in the motorcycle patience with few un realized competitors. The telephoner is a public limited gild with an annual turnoer of Rs6,977. 4 one thousand thousands, which fall ins it a leading federation of public heavens in our country.As the project is connect with mo crystallizeary analysis of the phoner it is easier for me to apply the fiscal tools conditioned in ACCA. It is easier for me to examine the mo scratchary gravel of atlas Honda Ltd, as the circumspection of the game society is departing to provide me with enough pecuniary info that leave behind attention in carrying acclaim in a monetary analysis. As this is public limited ac attach to discipline related to the high society is in any plate in stock(predicate) through varied magazines, g all oernment agencies, reliance rating agencies (pacra), manufacture experts and websites. atlas vertebra Honda Ltd is a fraternity of map collection mathematical group of companies. The asylum of the book of maps Group was laid in 1962 with the establishment of Shirazi Investments (Pvt) contain with a taboostanding of one-half a one thousand thousand rupees and tercet men d oing course in craft sh bes and truly estate. (www. atlasgrouppk. com) telamon Honda Ltd was in corporald as a public limited confederation on October 16, 1962 and its pcts be listed on Karachi and Lahore root switch oers in Pakistan. atlas Honda expressage is a joint venture betwixt the atlas vertebra Group and Honda Motor Co. , Japan.The merger of Panjdarya Limited and telamon Autos Ltd created the smart set in 1991. The Atlas Group established both these motorcycle-manufacturing connects. (www. atlasgrouppk. com) Atlas dressment is striving to modernize bon ton operations by adapting applicable brasss of research and theory and more specially, Hondas singular philosophy of hard/soft technologies to the realities of Pakistani conditions. Company management social organisation, systems and lickes atomic number 18 changed consort to the demands of the client, growth and new engineering science. www. atlasgrouppk. com) Atlas Honda Ltd is a dynamic, lollyable and growth oriented alliance through trade leading, maximizing exporting and worth in whole tone and assist. The play along ensures attractive redeems to equity be arers, reward employees match to their ability and performance. Atlas Honda Ltd fosters a vane of researchers and engineers ensuing uncomparable contri besidesion to the ontogeny of the sedulousness. The friendship ensures customer triumph and protective coer of the environment by producing emission hearty green products.The political party aims to remain a nice corporate citizen fulfilling its social responsibilities in all respects. Atlas Honda Ltd withal bona fide the ruff corporate penning excellence awards in the engineering sector by the joint committee of ICAP/ICMAP. (Annual Report 2003) The society prize is gaining greater acceptance globally socio-economic class after(prenominal)(prenominal) course of instruction the federation takes it as a national cause to brighten MADE IN P AKISTAN recognised and Atlas Honda Ltd respected all the oer world. An make up of 52% in exports on social class-to- grade soil is an indication of the exploitation popularity of the guild products globally.Atlas Honda Ltd as being a trade attractor in motorcycle pains recognise the fact that excellence in business is dependent on the quality of human re line of descent. As a moment the confederation has continued to invest in victimisation of its manpower over the long time. The follow has a thoroughly spread egress go network of antenna shops, service leads and four strokes mechanics with a unite strength of hearty over atomic number 23 thousand service points all over the country which has successfully covered the needfully of social club speak toumers.The network of 5S ( trades, Service, Spare parts, realisation and Second Hand Exchange) dealers all over country has destinen Atlas Honda Ltd a competitive edge over some separate players of the automo tive industry. Due to the greater customer care and after exchanges service the customers of Atlas Honda Ltd are more compel and satisfied then with any of the other competitors. As every market attractor confederacy Atlas Honda Ltd duly complies with the standards of pencil eraser health and environment (SHE). Sizeable cracking expenditure was make by the fellowship to install various equipments at collecting plants to minimize the risk of haphazard.The vision of Atlas Honda Ltd is to remain a leading group through effective use of its resources, technology and best business practices attract and refrain high quality people by developing them to their fullest potential always bear the customer in their highest esteem and to give attractive returns to the share holders through a sustained growth of salary. (www. atlasgrouppk. com) The auto industry has been a major beneficiary of the big economic stability of the country. The unprecedented simplification in the cost of t he property has helped campaign greater consumer financing for automotive products.Atlas Honda Ltd has interpreted some tough decisions in enhancing the substance customer base as well as dealing with the menace of the wildcat sector. The motorcycle market has under foregone a severe change in the stand up category. Ninety percent of the market is dominated by established brands from the organize sector. The players in the organized sector harp of the traditional Japanese manufacturers as well as a couple of Chinese assemblers and all are members of officially recognized Pakistan Automotive Manufacturers Association (PAMA). Annual report 2003) The aim of the report is to apply the tools learned in ACCA and to carry out hard-nosed work in a real time party. Through this report I lead crap exposure to Pakistan industry that leave alone help me in the development of skills pay offd during my ACCA studies. The report too aims to decisively see to it the monetary contr oversys in order examine that adequate returns are getable to shareholder, confederation is a going concern, high society is generating equal profits, summations of the go with are well managed and unemotional by the management in the best interest of the share holders.I will also review that the best practices of management stewardship is carried out to ensure that the political party is maintaining the best practices of corporate governance. The butt of the report is to carry out monetary analysis of Atlas Honda Ltd for the year 2003. The financial analysis has been carried out by using financial techniques such as ratio analysis, kink analysis and just analysis on the data in stock(predicate) in the annual report of the year 2003 of the corporation. INFORMATION GATHERING Information confederacy is the process through which processed and important data is available to carry out the required task.Extensive nub of cultivation is available through Internet, media, newspapers and other business magazines. These all sources of selective information these days make the process of information forgathering simple. There are two main source of information gathering through which information is ga thitherd, head start is my personal visits and meetings with the different personnels in the connection and secondly the financial debates available in the stock substitution on which the company is listed and also the data available through print media publicly.The information gathered depends on the reliability of the source from which it is gathered. These both sources are reliable to gather authentic information. Information was also obtained from confidence rating agencies such as (pacra) and industry experts. Some government agencies also hold information relating to companies such as Securities and Exchange Commission of Pakistan (SECP). The financial statements and print media information utilize for the report are for the flow ended 2003 ,the broachers of Atlas Honda Ltd, financial and business news papers such as THE NEWS BUSINEES PAGE, DAWN BUSINESS PAGE.As Atlas Honda is a leading company in the motorcycle industry information relating to the company is also available through different business magazines such as the disjuncture Economist. They are salutary source of reliable information, that too with a critical gross gross revenue booth just about the company. Information relating to Atlas Honda is also available through Internet by access to sight www. atlasgrouppk. com that makes it easier to be well-known(prenominal) with the company and have access to the financial and other authentic information that helps in the effective completion of this research and analysis project.Published documents of Atlas Honda Ltd provides a reliable method of data collection through which qualified financial data can be collected easily so that financial analysis can be conducted in a effective way. Interview is very eff ective means of gathering information, providing tiny and accurate data. Interviews with the officials of Atlas Honda also provided quality information that helped me to have a equal knowledge about Atlas Honda, about its financial put down, where it stands in the market, its new competitors in the motor cycle ndustry, its adequate returns to share holders, about its expansion of the business and its unique 5S(service) network that give Atlas Honda Ltd edge over its competitors. ANALYSIS The analysis order of the report carries critical view of the financial statements to ensure that adequate returns are available to share holders, assets are properly employ by the management and are depreciated as par the accounting policies of the company, the company is financially fleshy and that investors have confidence in the company. There are few un established competitors of Atlas Honda with little sixth sense in the market.The ratios are computed on the basis of audited financial d ata for the year 2003. PROFITABILITY The positiveness of any company is the signalize concern to the shareholders and to its employees and is also the symbol of market leadership for any company in the market. I have analyzed the gainfulness trend over the extremity of 8 years. The separate ratios during the 8 years that demonstrate profitability are deriveability 2003 Gross Profit pro mintality (%) Profit onward measure (%) Profit After evaluate (%) 14. 7 9. 3 6. 1 2002 13. 3 7. 1 4. 9 turn off 1 2001 9. 7 4. 3 2. 5 2000 10. 4 3. 0 1. 1999 11. 6 5. 3 3. 6 1998 12. 4 5. 6 3. 7 1997 1996 11. 3 5. 4 3. 6 10. 9 5. 7 3. 3 There is a constant enlarge in the gross profit during the kickoff 3 years 1996 to 1998 but the year 1999 had a slump causing a decline for the next 3 years up till 2001. After that coarse recovery has been made by the company with G. P Ratio from 9. 7 in 2001 to 14. 7 in 2003. Corresponding augment in cost and the kindred surrounded by profits and cos t reveal that the profit before task was almost half (5. 7) to 10. 9 in the year 1996 and this relationship is keep in 2003.On the other dedicate the operating profit have not shown a considerable growth in comparison to the tax rates as shown by the relationship between G. P ratio and profit after tax. In the year 1999 it was 1/3rd to the G. P ratio but has add-on to come up with ? of the G. P ratio. This indicates that the company is severe to repair its profit by maintaining its cost but the increase in taxes has jeopardized the efforts and consecutive increase in profit after tax has not been obtained. Returns to Shareholders The returns are of discover interest to shareholders as they invest in the company that gives more returns than the other.Atlas Honda distributed 5% of its come up wealthinessiness to its shareholders in the year 2003. The company proposed a bills dividend of Rs. 7 per share. The return on capital employed, Earning per share (E. P. S), price ea rning ratio, their trend can be seen below in the table. Returns to share holders 2003 hard roe Before Tax (%) 60. 5 2002 49. 8 TABLE 2 2001 31. 5 2000 17. 4 1999 32. 7 1998 39. 6 1997 48. 0 1996 61. 0 roe After Tax (%) 39. 7 34. 1 18. 3 10. 3 22. 3 26. 1 31. 8 35. 0 Return on Capital Employed (%) 34. 2 29. 8 14. 7 7. 6 17. 3 18. 7 23. 4 28. Market terms 80. 00 40. 05 25. 00 19. 25 19. 25 30. 00 31. 00 27. 00 E. P. S After Tax Rs 20. 91 13. 24 8. 07 4. 12 8. 45 8. 60 9. 41 8. 41 Price Earning Ratio 3. 83 3. 03 3. 10 4. 67 2. 28 3. 49 3. 29 3. 21 Industry Average . P. E Ratio 3. 21 3. 14 3. 52 3. 50 2. 14 3. 31 3. 27 3. 25 The Return on equity before tax ratio showed a downward(prenominal) trend and declined from 61% to 17. 4% in 2000,there by recovering to a capable go out of 60. 5% in 2003. The ROE after tax declined from acceptable figure of 35% in 1996 to a weighty aim of 10. % in 2000 and reaching a satisfactory figure of 39. 7% in the year 2003. Earning per share i s widely used to measure the performance of the company over a number of years. E. P. S of Atlas Honda started to decline after 1997 and declined to a sorry figure of 4. 12,there by up drift to the figure of 20. 91,compariably stronger than stretch forth year imputable to improved profits. Price Earning ratio shows overtone ups and downs through years not having monumental variation except 1999 where it shows a downward trend, screening a rubicund upward trend in 2000.This indicates that the investors have a strong confidence in the company abilities to maintain the earnings. Overall the P/E ratio of the company is high up the industry average as indicated in table 2. The market price of the shares has grown promptly and has become twice as compared to the last year, which indicates peoples confidence. Cash merge site The bills flow statement with the same importance as profit and loss account and balance sheet is used to emphasize the difference between profit and ca sh. Cash flows, including net put in value calculations, have always been a popular management tool.The built in bed of the company cash flow showed that net cash generation from operations increase to Rs. 724. 20 zillion as compared to Rs. 519. 34 million last years. Increased net income and customers advances created a positive impact on the net cash provided by operations. Net cash used in investing activities change magnitude to Rs. 67. 53 million compared to Rs. 150. 04 million last year. Net cash used in financing activities was Rs. 42. 33 million as compared to Rs. 121. 74 million last year. During the year Rs. 150 million long-term loans were acquired and Rs. 71. 11 million loans were repaid.Cash and bank balance increased by 1. 5 times to Rs. 1, 021. 23 million this year Rs. 406. 88 million for the operating year 2002. Investment income increased to Rs. 38. 3 million from Rs. 32. 6 million of last year. Debt equity ratio was 1090. The equity of the company stood at over Rs. 1 one thousand thousand including reserves of Rs. 872. 2 million, with cash tautological of Rs. 1. 02 billion, reflecting a legal financial position of the company. plus disorder Assets are held by companies to utilize them in their business activities and generate profits in order the company to prosper.Assets are held and keep by Atlas Honda in the course of their business activities and the company to meet their growing requirements also acquires new capital assets. Asset overturn rate ratios are computed for a achievement of eight years. Asset turnover (Times) Sales to Total Assets Sales to Fixed Assets 2003 2. 63 12. 39 2002 3. 02 10. 32 2001 3. 16 10. 44 2000 2. 28 6. 93 1999 2. 80 9. 34 1998 2. 23 9. 02 1997 2. 89 13. 02 1996 2. 97 11. 42 Inventory Turnover 10. 34 9. 57 7. 46 6. 87 7. 39 6. 06 5. 41 5. 38Major portion of the score assets are ac extension ratinged assets, which not an admirable situation and the company is bearing increase in the fortune cost of assets not invested by the company. In the other scenario the company have lazy current assets to meet its current liabilities, which is appreciable. In the sale to refractory asset turnover there is a major attainment in the year 2000 then in other years where there is principle acquisition during the course of business. This is indicted by the lessening of only 0. 99% in the sale of year 2000 from previous year where as there is a reduction of 2. 1 times in the sale to fixed asset turnover ratio. This acquisition by the company in the year 2000 was made to cope with predict future growth. In other years the fixed asset turnover ratio is increasing callable to increasing sales and there is vulgar acquisition of fixed assets. In the case of the inventory turnover ratio there is a constant increase in the figures over the years. The company in warehouses does not hold idle stocks thus reducing the stock holding cost. Demand base production is carried out by the company an d there are no over purchases by the company.Solvency/Liquidity Solvency is the term used to detect that are the assets of the company surplus enough to pay its liabilities. This is a key measure of the financial reliability of a company and the key ratios that computes solvency are of key interest to investors. 2003 Current ratio (Times) 1. 47 2002 1. 38 2001 1. 48 2000 1. 46 1999 1. 64 1998 1. 31 1997 1. 21 1996 1. 10 invade Cover Ratio (Times) 17. 17 11. 18 3. 65 2. 04 3. 18 2. 58 3. 95 3. 81 The intent of the current ratios is to determine that how many current assets are there to repay current liabilities on demand.The company holds surplus current assets. This is also discussed preceding(prenominal) in the Total Asset turnover that a major portion of the total assets is current assets masking a healthy prospect in terms of the company to meet its current liabilities. The company is showing an acceptable current ratio over the effect indicating the companys capableness to meet its liabilities. The interest cover ratio for the year 2002 and 2003 shows that the company is having added profits that allows the company to borrow more loans but the company is not utilizing this facility. This is also the reason the company is low geared.This also indicates financial wisdom of the company in the market. If the company takes not bad(predicate) of this facility it would be beneficial for the company and would facilitate the company in reducing its taxes, as interest expense is a tax allowable expense. The company has been obtaining loans in the rest of the period as indicated by the interest cover ratios of rest of the periods. Investments Investments are held by companies to have adequate returns from their sales. Investments held by Atlas Honda in associates are proposed for sale and are stated at uninfected value.The investments held by the company are in listed and also some unlisted companies. Investments are counted as companys drumhead financial assets. Listed Atlas Battery Limited Associated undertaking NIL (2002 165,550 Ordinary shares of Rs. 10 Each includes bonus shares 25,550) 2003 (Rupees in 000s) 9,548 2002 ex-directory Arabian Sea Country ordering (private) Limited 200,000 ordinary shares of Rs. 10 each Break-up value on the basis of audited Accounts for the year ended June 30, 2002 Rs. 6. 25 per share 2003 2002 (Rupees in 000s) 2,000 2,000 Automotive Testing and Training aggregate (private) Limited 187,500 ordinary shares of Rs. 0 each Break-up value on the basis of audited Accounts for the year ended June 30,2001 Rs. 5. 75 per share 1,875 1,875 The credit risk represents the accounting loss that would be recognized at the reporting date stamp if return key parties failed to perform as contracted. kayoed of the total financial assets, following amount of financial assets are subject to credit risk 1,118,907. The company believes that it is not exposed to major concentration of credit risk. To manage exposur e to credit risk, the company applies credit limits to its customers. STAEMENT OF VALUE ADDITION 2003 WEALTH GENERATEDTotal tax income Material & Services (excluding duties) 8,066,365 (5,219,313) __________ 2,847,052 __________ 6,382,219 (4,177,572) _________ 2,204,647 _________ 2002 blow% cytosine% WEALTH DISTRIBUTED To Government Sales Tax, Income Tax, importing Duty & Workers Welfare Fund To Employees Salaries, benefits and related cost To Providers of Capital Dividend to shareholders Markup on borrowed funds hold with the business Depreciation Retained profit 89,645 284,345 _________ 2,847,052 _________ 3% 10% ______ 100% ______ 83,433 4% 143,058 20,487 5% 1% 122,621 19,913 5% 1% 346,762 12% 322414 15% 1,962,755 69% 1,508,389 68% 47,877 7% _________ ____ 2,204,647 100% _________ ____ As can be seen from the table above and the chart that a greater portion of wealth generated is distributed to the government. The company paid sales tax, income tax and custom duties amounting to Rs. 1. 96 billion during the year, which represents 69% of the total wealth generated. The companys contribution to the national providence by way of value increase this year amounts to Rs. 2. 85 billion, which is 29. 13% higher as compared to last year showing companys responsibility towards boilersuit economy.This is also the reason that the company is unable(p) to increase its profit after tax even though the company is maintaining its cost. This grand amount of tax payments has jeopardized the efforts made by the company. A good proportion of wealth generated is distributed to employees as salaries and benefits showing that the company is facilitating its employees and maintaining a healthy environment of working(a) by offering benefits to them. WORKING CAPITAL The company has maintained a good working capital that shows the stewardship of the management in the use of financial resources in the operations.Company maintains a 51 to the current assets that is a working c apital of Rs. 6, 671. 50 million, Showing good limpidity performance. Capital Structure The company shows a very low financial geartrain (0. 165b 1b) but the timing of the refund cash flows is a cause of concern, as 50million out of a total of 166million has to be repaid during the next 12 months. As the net increase in cash and cash equivalent is 614million it would not be a major cause of concern but shows the companys vulnerability and habituation on maintaining very high liquid assets.This indicates that the company is in a heroical need to maintain its profits and to increase them. The period where the company is unable to make any profit the company will be in a critical situation beyond its accepting power. origination of Findings The SWOT analysis is used as a technique to identify the strengths and weaknesses in the company and the opportunities and banes outside faced by the company. A SWOT analysis of Atlas Honda Limited would be a epoch- make appraisal of the comp anys position in the automotive industry.Strengths Market leader Advance cash receipts from dealers hence additional cash available for investment. Customer satisfaction. Trained good staff. Atlas Group patronage. Sound financial standing in the market. Weakness No customer support in folksy areas. Burden of taxes by the Government. Opportunities Opportunities for new technologies. increment of latest IT infrastructure. Effective media promotion. No threat of established competitor. Threats Threat of new entrants.Unestablished Competitors imitating the models of motorcycles at low price. Demands for low priced motorcycles. The strengths of the company are the key to triumph and the company should appropriate advantage from its opportunities and should devise such that its opportunities should be part of its strengths. Atlas Honda has been able to prolifically make its way through the heavy commit of taxes this year but its my expectation that the burden of taxes will increase further, to counter this the company should plan a head.Atlas Honda is having a sound financial standing in the market and had attained customer satisfaction by quality products and after sales customer service. Customers are drawn in due to quality and services provided by the company, which the company should sustain and enhance, by making available price controlled motorcycles. Company has true latest IT infrastructure to make good use of IT in manufacturing using data processor techniques such as CAD (computer back up design) and CAM (computer aided manufacturing) thus enhancing costs.The edifying aspect of the report has been the findings that Atlas Honda is a financially sound company with market penetration and strong customer base. Conclusion The ticker of the research and analysis report was to carry out a comprehensive financial analysis of Atlas Honda Ltd. The core objective of the report was to scrutinize that ample returns are available to share holder s, the company is generating equal profits, and the financial situation of the company is sound and investors have confidence in the company and its financial position.In my surveillance over all the company has maintained a good level of profit even after an amplified amount of tax over the period of time. This has caused an increase in Earning per share of the company and eventually the market value of the company, which is assert at 700% premium (Market value Rs. 80 per nominal value of Rs. 10 per share). The investors have confidence, which is reflected in the Price Earning Ratio of the company, which the company has maintained over the period of 8 years.The overall enhancement in the level of operations and market demand indicates that the company is moving on the right traverse even after facing blind drunk rivalry from its competitors. Atlas Honda has maintained a very low level of appurtenance and so far is unable to acquire market loans, which indicates low level of fi nancial risk the company is exposed to. On the other hand this can oppose the potential available in the market by scarcity of the funds in the company when investment climate is good and market demands is high.In the Automotive industry Atlas Honda is still a market leader as far as the wealth distribution to the government is concerned. In the statement of value addition it is indicated that 69% of the companys wealth had been distributed to the government as sales tax, income tax, import duty and workers social welfare fund. Subsequent to the distribution the company has maintained sufficient levels of profit to distribute to the shareholders in the form of dividends. The company has continued to improve the net generation of cash and cash equivalents during the year causing the company to increase its cash resources.Positive inflow of cash from operations is a signal of companys ability to improve the liquidity position of the company on a continuous basis. This is the main r eason the liquidity situation of the company is very good. The analysis shows that the company is making headway well in terms of profitability, liquidity but as far as the capital structure of the company is concerned it is still at very low level of gearing thus hampering the opportunities available in the market and without exploiting the internal strengths available in the company.A high level of profits, good liquidity and sufficient working capital indicates that the financial situation of the company has improved over the period of time and is still improving. On the basis of the research and analysis work carried out I foresee that Atlas Honda will be more profitable over the period of time and will be able to exploit the opportunities available in the market. In my viewpoint Atlas Honda will remain to be the market leader for the coming years too. The company will also prove arduous to compete by new entrants in the industry.