Welsh childhood Essay Example for Free

Welsh youth Essay Dylan Marlais Thomas was conceived in the Welsh seaport of Swansea, Carmarthenshire, Wales, on October 27, 1914. His dad, David John, was an English educator and an eventual writer from whom Dylan acquired his scholarly and artistic capacities. From his mom, Florence, a straightforward and strict lady, Dylan acquired his disposition, demeanor, and regard for his Celtic legacy. He had one more seasoned sister, Nancy. He went to the Swansea Grammar School, where he got the entirety of his conventional training. As an understudy he made commitments to the school magazine and was distinctly keen on nearby old (stories went down inside a culture). He said that as a kid he was little, slender, ambivalently dynamic, brisk to get grimy, wavy. During these early school years, Thomas got to know Daniel Jones, another nearby student. The two would compose many sonnets together, and as grown-ups Jones would alter an assortment of Thomass verse. Subsequent to leaving school, Thomas bolstered himself as an entertainer, columnist, analyst, scriptwriter, and with different random temp jobs. At the point when he was twenty-two years of age, he wedded Caitlin Macnamara, by whom he had two children, Llewelyn and Colm, and a little girl, Aeron. After his marriage, Thomas moved to the angling town of Laugharne, Carmarthenshire. Starts composing profession To help his developing family, Thomas had to compose radio contents for the Ministry of Information (Great Britains data administrations) and narratives for the British government. He additionally filled in as an airplane heavy armament specialist during World War II (1939â€45; a war battled between Germany, Japan, and Italy, the Axis forces; and England, France, the Soviet Union, and the United States, the Allies). After the war he turned into an observer on verse for the British Broadcasting Corporation (BBC). In 1950 Thomas made the first of three talk visits through the Reproduced by authorization of AP/Wide World Photos . Joined Statesâ€the others were in 1952 and 1953â€in which he gave more than one hundred verse readings. In these appearances he half presented, half sang the lines in his Welsh performing voice. Thomass wonderful yield was not enormous. He composed just six sonnets over the most recent six years of his life. An overwhelming talk plan significantly eased back his scholarly yield in these years. His conviction that he would kick the bucket youthful drove him to make moment Dylanâ€the persona of the wild youthful Welsh minstrel, cursed by drink and ladies, that he accepted his open needed. At the point when he was thirty-five years of age, he portrayed himself as old, little, dull, clever, and dashing gushing specking peered toward †¦ going bald and toothlessing. During Thomass visit to the United States in 1953, he was booked to peruse his own and other verse in somewhere in the range of forty college towns all through the nation. He likewise proposed to take a shot at the lyrics (text) of a drama for Igor Stravinsky (1882â€1971) in the latters California home. Thomas commended his thirty-ninth birthday celebration in New York City in a temperament of gay elation, following the exceptional accomplishment of his simply distributed Collected Poems. The merriments finished in his breakdown and ailment. On November 9, 1953, he passed on in St. Vincents Hospital in New York City. A few reports ascribe his demise to pneumonia welcomed on by liquor abuse, others to encephalopathy, a cerebrum illness. His body was come back to Laugharne, Wales, for internment. Artistic works Thomas distributed his first book of verse, Eighteen Poems (1934), when he was not yet twenty years of age. The reeling energy of a verse inebriated student destroyed the Philistine as hard a blow with one little book as Swinburne had with Poems and Ballads, composed Kenneth Rexroth. Thomass second and third volumes were Twenty-five Poems (1936) and The Map of Love (1939). The sonnets of his initial three volumes were gathered in The World I Breathe (1939). At this point Thomas was being hailed as the most stupendous of the surrealist artists, or writers who utilized fabulous symbolism of the subliminal in their section. He recognized his obligation to James Joyce (1882â€1941) and specked his pages with imagined words and quips (the utilization of at least two words that sound the equivalent, for the most part for hilarious purposes). Thomas additionally recognized his obligation to Sigmund Freud (1856â€1939), expressing: Poetry is the musical, definitely story, development from an over dressed visual deficiency to a bare vision.†¦ Poetry must drag further into the away from of light more even of the shrouded causes than Freud could understand. A Portrait of the Artist as a Young Dog (1940) is an assortment of comical self-portraying (having to do with expounding on oneself) draws. Thomas cherished the wild scene of Wales, and he put quite a bit of his adolescence and youth into these accounts. He distributed two all the more new assortments of verse, the two of which contained a portion of his best work: Deaths and Entrances (1946) and In Country Sleep (1951). Gathered Poems, 1934â€1953 (1953) contains the entirety of his verse that he wished to safeguard. Subjects and style Thomas asserted that his verse was the record of my individual battle from murkiness toward some proportion of light.†¦ To be deprived of dimness is to be perfect, to segment of haziness is to make clean. He additionally composed that his sonnets with every one of their crudities, questions, and disarrays, are composed for the love of man and in commendation of God, and Id be a condemned fool on the off chance that they werent. Energetic and serious, striking and savage, Thomas composed that he turned into a writer since I had gone gaga for words. His feeling of the extravagance and assortment and adaptability of the English language radiates through the entirety of his work. The subject of all of Thomass verse is the festival of the perfect (genuine) reason he found in all human and common procedures. The pattern of birth and blooming and passing, of affection and demise, are likewise found all through his sonnets. He commended life in the oceans and fields and slopes and towns of his local Wales. In a portion of his shorter sonnets he tried to recover a childs honest vision of the world. Thomas was enthusiastically devoted to his morose workmanship, and he was a capable, completed, and every so often complex specialist. He made, for instance, in excess of 200 forms of Fern Hill before he was happy with it. His initial sonnets are moderately baffling and complex in sense however basic and clear in design. His later sonnets, then again, are basic in sense however complex in sounds. Under Milk Wood, a radio play charged by the BBC (distributed 1954), was Thomass last finished work. This sonnet play isn't a dramatization however a motorcade of peculiar, ludicrous, and enchanting Welsh locals. During the twenty-four hours introduced in the play, the characters recall and consider the easygoing and vital snapshots of their lives. Undertakings in the Skin Trade and Other Stories (1955) contains all the uncollected stories and shows the mind and silliness that made Thomas a charming partner.

Benefits of Feedbacks for Exponential Growth of Any Business

Question: Talk about theBenefits of the Interpersonal Skill of Feedback in the Workplace. Answer: Presentation The training where individuals trade data, which means, and perspective through non-verbal and verbal messages and which is up close and personal message is what is alluded to as relational correspondence (Beebe et al., 2014). Relational correspondence is the means by which the language is passed on and the nonverbal interchanges sent in a tone of motions, outward appearance, and non-verbal communication. Intelligent Communication Skill of Feedback At whatever point individuals are conveying, the audience members will react to the message conveyed to them. The reaction of the crowd empowers the speaker to figure out how the crowd got the message. The message from the beneficiaries which permits the speaker or the sender to know how precisely the message was gotten is alluded to as a criticism. Input could either be as outward appearance, in which the crowd react by utilizing outward appearances or in the verbal structure in that audience members react by remarking (De Janasz et al., 2014). For example, when the crowd doesn't comprehend what the sender is passing on, the crowd will appear through outward appearance. Likewise, when the crowd is unmistakably and precisely getting and deciphering the message, their outward appearance will call attention to. Advantages of the Applying Interpersonal Communication in the Workplace The relational correspondence expertise of input is exceptionally pivotal at a position of work. The workers and the chiefs should have compelling input aptitudes. For example, the workers must show the director that they have not comprehended the headings given or offered to play out an individual undertaking. The laborer ought to imply any misconception through verbal input (Baker et al., 2014). Verbal input is progressively successful in that the sender rehashes guidelines right away. End Relational correspondence aptitude is the procedure where individuals trade data up close and personal. One of the relational aptitude is criticism, which is the manner in which the crowd pass on the message to the sender on how they have gotten the conveyed message. Criticism is essential in the working environment since it empowers a quick progression of work. Reference List Dough puncher, A., Perreault, D., Reid, A. furthermore, Blanchard, C.M., (2013). Input and associations: Feedback is acceptable, criticism amicable culture is better.Canadian Psychology/Psychologie canadienne,54(4), p.260. Beebe, S.A., Beebe, S.J. also, Redmond, M.V., (2014).Interpersonal correspondence: identifying with others seventh edn, Allyn and Bacon, Boston. De Janasz, S. C., Crossman, J., Campbell, N., Power, M. (2014).Interpersonal Skills in Organisations(2nd ed.). North Ryde, N.S.W.: McGraw-Hill.

Blog Archive GMAT Impact Tackling Reading Comprehension Problems

Blog Archive GMAT Impact Tackling Reading Comprehension Problems With regard to the GMAT, raw intellectual horsepower helps, but it is not everything. In this blog series,  Manhattan Prep’s  Stacey Koprince  teaches you how to perform at your best on test day by using some common sense. We previously examined  how to read Reading Comprehension (RC) passages. If you have not read our earlier article, go ahead and do so right now. Today, I want to talk about the three primary types of questions that appear on RC: Main Idea, Specific Detail, and Inference. I also want to talk about how to analyze RC problems. In general, we learn the most from a problem after we have finished doing it. Our  review  is the real learning experience. Any problem can (and should!) be analyzed using the questions discussed in this “How to Analyze a Practice Problem” article. How would that work with a Reading Comprehension question? Glad you asked.  This article  contains an example of a complete RC Inference problem analysisâ€"you will learn not only how to analyze an RC problem but also how to tackle Inference problems. (In general, Inference problems ask us to deduce something from some piece of evidence provided in the passage.) Let’s tackle  Main Idea questions  next. These questions focus on the main point of a passage, though we could also be asked to give the main point of just one paragraph. Specific Detail questions ask us to address some particular detail mentioned explicitly in the passage. We could be asked  what  the passage says  or  why  the author mentions  a certain thing. Knowing whether you are dealing with a What question or a Why question is important. Think about the answers to these two questions: What are you studying? Why are you studying it? Completely different answers! Those will cover most, if not all, of the RC question types you will see when you take the GMAT. You might also encounter a Strengthen or Weaken question, similar to the questions that we see in the Critical Reasoning section. These are fairly rare in RC, thoughâ€"chances are good that you will not actually see one. So go ahead and tackle those Reading Comprehension question types and remember this: when you are studying, your goal is not (just) to get the question right. Your goal is to learn something that you could apply on a different question (or  questions) in the future! Share ThisTweet GMAT Impact Blog Archive GMAT Impact Tackling Reading Comprehension Problems With regard to the GMAT, raw intellectual horsepower helps, but it is not everything. In this blog series,  Manhattan Prep’s  Stacey Koprince  teaches you how to perform at your best on test day by using some common sense. We previously examined how to read Reading Comprehension (RC) passages. If you have not read our earlier article, go ahead and do so right now. Today, I want to talk about the three primary types of questions that appear on RC: Main Idea, Specific Detail, and Inference. I also want to talk about how to analyze RC problems. In general, we learn the most from a problem after we have finished doing it. Our  review  is the real learning experience. Any problem can (and should!) be analyzed using the questions discussed in this “How to Analyze a Practice Problem” article. How would that work with a Reading Comprehension question? Glad you asked.  This article  contains an example of a complete RC Inference problem analysisâ€"you will learn not only how to analyze an RC problem but also how to tackle Inference problems. (In general, Inference problems ask us to deduce something from some piece of evidence provided in the passage.) Let’s tackle  Main Idea questions  next. These questions focus on the main point of a passage, though we could also be asked to give the main point of just one paragraph. Specific Detail questions ask us to address some particular detail mentioned explicitly in the passage. We could be asked  what  the passage says  or  why  the author mentions  a certain thing. Knowing whether you are dealing with a What question or a Why question is important. Think about the answers to these two questions: What are you studying? Why are you studying it? Completely different answers! Those will cover most, if not all, of the RC question types you will see when you take the GMAT. You might also encounter a Strengthen or Weaken question, similar to the questions that we see in the Critical Reasoning section. These are fairly rare in RC, thoughâ€"chances are good that you will not actually see one. So go ahead and tackle those Reading Comprehension question types and remember this: when you are studying, your goal is not (just) to get the question right. Your goal is to learn something that you could apply on a different question (or  questions) in the future! Share ThisTweet GMAT Impact Blog Archive GMAT Impact Tackling Reading Comprehension Problems When it comes to the GMAT, raw intellectual horsepower helps, but it is not everything. In this weekly blog series,  Manhattan GMAT’s  Stacey Koprince  teaches you how to perform at your best on test day by using some common sense. A couple of months ago, we took a look at how to read Reading Comprehension (RC) passages. If you did not read that earlier article, go ahead and do so right now. Today, I want to talk about the three primary types of questions that appear on RC: Main Idea, Specific Detail and Inference. I also want to talk about how to analyze RC problems. In general, we learn the most from a problem after we have finished doing it. Our review is the real learning experience. Any problem can (and should!) be analyzed using the questions discussed in this How to Analyze a Practice Problem article. How would that work with an RC question? Glad you asked. This article contains an example of a complete RC Inference problem analysisâ€"you will learn not only how to analyze an RC problem but also how to tackle Inference problems. (In general, Inference problems ask us to deduce something from some piece of evidence provided in the passage.) Let’s tackle Main Idea questions next. These questions focus on the main point of a passage, though we could also be asked to give the main point of just one paragraph. Specific Detail questions ask us to address some particular detail mentioned explicitly in the passage. We could be asked what the passage says or why the author mentions a certain thing. Knowing whether you are dealing with a What question or a Why question is important. Think about the answers to these two questions: What are you studying? Why are you studying it? Completely different answers! Those will cover most, if not all, of the RC question types you will see when you take the GMAT. You might also encounter a Strengthen or Weaken question, similar to the questions that we see in the Critical Reasoning section. These are fairly rare in RC, thoughâ€"chances are good that you will not actually see one. So go ahead and tackle those RC question types and remember this: when you are studying, your goal is not (just) to get the question right. Your goal is to learn something that you could apply on a different question (or questions) in the future! Share ThisTweet GMAT Impact

Violence Against Women s Violence - 1187 Words

Violence Against Women Women have always been thought of as the weaker sex. Women have been through a lot through the ages and we have come a long way. From just being seen as someone to cook and clean and look after the children, women are now running billion dollar companies, and running for president. However, violence towards women is still a worldwide problem. While not all violence is directed at women, they share the brunt of violence through physical, emotional and even financial means. Physical Violence When we think of violence the first thing that comes to mind is to harm someone through physical means. All women regardless of age, class, ethnicity, sexual orientation, etc. are subject to male violence. From a low-income mom†¦show more content†¦Emotional abuse endured in one relationship can prevent a woman from ever wanting to be vulnerable in a relationship again. Walls are built up in order to avoid emotional attachment. It takes a special man to come in and with time and patience bring them down, only once complete trust and understanding has taken place. Even once a woman may become free of her abuser stalking is real and can wreak havoc for her. Imagine not being able to go to the grocery store without having to watch behind your shoulder each step of the way. Or having to sleep with one eye open, never quite letting yourself relax. â€Å"Many women are criminally harassed by partners, since violence by an intimate partner does not necessarily end when the relatio nship ends† (Rosenberg Duffy, 2010, p.171). The emotional turmoil for a woman and her children is undeniable and no one can live like this. A co-worker was in a relationship like this, she was constantly watching for him as she drove home, or went out for the night with a friend. If he saw her she would be bombarded with text messages accusing her of anything he could think of. When it was him who had been unfaithful in the relationship and moved out with the next door neighbor. Even so he had control issues and he didn’t want her, but he didn’t want anyone else to have her either. They have two young impressionable daughters and they have seenShow MoreRelatedViolence Against Women s Violence872 Words   |  4 PagesIntroduction Violence against women unfortunately is a very prevalent and critical issue in our society. It is a worldwide but still hidden problem. Freedom from the threat of harassment, battering, and sexual assault is a concept that most of us have a hard time imagining because violence is such a deep part of our cultures and our lives. According to the Federal Bureau of Investigations (FBI), it is estimated that 84,376 forcible rapes were reported to law enforcement in 2012, estimated at 52Read MoreDomestic Violence Against Women s Nigeria3495 Words   |  14 PagesCHAPTER FOUR 4.1 SELECTED CASES OF DOMESTIC VIOLENCE AGAINST WOMEN IN NIGERIA Cases of domestic violence against women have been on the increase in Nigeria. Women are being abused on a daily basis whether by battering, acid bath, rape, widowhood practices, genital mutilation, among others. A 27-year-old woman, Folashade Shodiya, said she was forced to stab her husband to death because the latter habitually abused her at home.PUNCH Metro had reported on November 19, 2014, that the police arrestedRead MoreViolence Against Women Is A Women’S Health Issue Stemming1465 Words   |  6 PagesViolence against women is a women’s health issue stemming from the cultural acceptance of the power dynamic between men and women. Specifically, men are socialized to be more powerful, commanding and assert themselves in the public sphere. While females are socialized to be more docile, reserved, obedient and to consume as little space as possible – both physically and figuratively. This mindset is something that adversely affects the health of women, taking away her autonomy, and subverting herRead MoreViolence Against Women s Violence1553 Words   |  7 Pages Violence Against Women by Ines Alvarez Mrs. Madrell English 4, Honors, Period 6 Miami Coral Park Senior High School March 18,2016 Mrs. Madrell English 4, Honors, Period 6 Miami Coral Park Senior High School March 18,2016 Violence Against Women Women have been and continue to be victims of violence in all of its faces. The purpose of this research is to explore the many ways in which women are abused and mistreated, focusing on the effects that violence causes to the victimsRead MoreViolence Against Women s Violence2271 Words   |  10 PagesViolence against women is considered as violence which is physically enforced for example physical assault, use of weapons and death. People tend to limit their thinking that a woman only has physical effects of violence against her, they don’t know how a woman is abused sexually, psychologically, a woman’s isolation from the society and the social psychological abuse she faces. The UN defines gender violence as â€Å"act of damage which can be physical, sexual and psychological with prior intention.Read MoreViolence Against Women s Rights1353 Words   |  6 Pages Violence against Women According to the United Nations Violence against Women is any act of gender-based violence that ,results in, or likely to result in,physical,sexual or mental harm or suffering to women, including treats of such acts, coercion or arbitrary deprivation of liberty, whether occurring in private or public life. It is also an extreme violation against a women s right which has become an epidemic in our society. For several reasons, Violence against Women continues to soars drasticallyRead MoreWomen s Fight Against Domestic Violence992 Words   |  4 Pagesevery year, there are around 4000 women die due to domestic violence. In addition, other statistic shows that seventy-five percentage of the abusers killed their partners when victims tried to leave home or even after they left (1). According to community overcoming relationship abuse (CORA), every year, around 10 million of kids in United States live with parents in abuse relationships. Moreover, the department of justice shows that th irty percent of murdered women in the U.S. killed by her partnerRead MoreDomestic Violence Against Women : Statistical Analysis1595 Words   |  7 Pageslearner chose to use the following articles for this purposes which are Hackett s 2011 article, Domestic Violence Against Women: Statistical Analysis of Crimes Across India, and Hunter and Graham-Bermann s 2013 article, Intimate Partner Violence and Child Adjustment: Moderation by Father Contact?. Domestic Violence Against Women: Statistical Analysis of Crimes Across India The hypotheses for â€Å"Domestic Violence Against Women: Statistical Analysis of Crimes Across India† article was developed by reviewingRead MoreChild Abuse and Violence Against Families1204 Words   |  5 PagesAbuse and Violence Against Females Domestic violence in the United States has become a major problem that affects nearly 2/3 s of all people. It can affect wives, the elderly, and even men, but in this paper we will discuss the abuse that occurs to children and also violence toward women. It is widely assumed that most estimates of the incidence of domestic violence are underestimates. Even large population surveys cannot provide accurate estimates of the extent of domestic violence. This isRead MoreDomestic Violence : A Serious Problem1381 Words   |  6 PagesThere is no denying that domestic violence directed towards women is a serious problem all over the world, and here in the United States. The National Coalition Against Domestic Violence reports that every 9 seconds, a woman is physically assaulted or abused in America.(NCADV) To understand domestic violence, one must first understand what domestic violence can consist of, and that is; the use or threat to use physical, sexual, or verbal behavior to force the partner to do something one wants; to

What Is a Blackberry Winter

Character Comparison - Hills Like White Elephants/A...

Stefanie A. Thomas Professor Judith Angona English 152 9 October 2012 Character Comparison – Two Repressed Women Both â€Å"Hills like White Elephants† by Ernest Hemingway and William Faulkner’s â€Å"A Rose for Emily† center around two women who are repressed by their lives’ circumstances. However, outside of their feelings, their situations could not be more different. Miss Emily Grierson is trapped in a life of solitude, despondency, and desperation. The girl, or â€Å"Jig†, is equally as desperate, but her repression is not born of loneliness or restraint—it is the child of her freedom. Repression comes in several forms, but it will suffocate and consume you. In â€Å"A Rose for Emily†, Miss Emily Grierson lives a life of quiet turmoil. Her†¦show more content†¦Ã¢â‚¬Å"Jig† is a young, modern woman who is faced with the decision of prolonging her freedom and the stability of her relationship or accepting motherhood and the responsibility that comes with it. It is not to say t hat motherhood is a prison; it is that motherhood would be the death of everything she loved, mainly travelling, and the very stability of her relationship with her lover, â€Å"the American†. â€Å"The American† says, â€Å"‘That’s the only thing that bothers us. It’s the only thing that’s made us unhappy.’† (Hemingway 115) which unequivocally shows that the center of conflict inside of their relationship is the presumed pregnancy. There are several instances in the story that â€Å"the American† reiterates â€Å"Jig’s† options for her future. Although he expresses that he would support and love her no matter what the ultimate choice is, she feels conflicted and her pain, which builds throughout the story and as the conversation progresses, becomes more obvious. What is most interesting is, as his second thoughts about the unspoken abortion spike, her resistance to discuss the topic any further grows in tandem. Although the two heroes’ love for one another is evident, there is the aching uncertainty between them: Is there room for a child in their relationship built of travelling, drinking, and discovery? â€Å"Jig’s† repression, just like Miss Emily’s, is inevitable because of their presented circumstance. TheseShow MoreRelatedANALIZ TEXT INTERPRETATION AND ANALYSIS28843 Words   |  116 Pagesor a short story. Events of any kind, of course, inevitably involve people, and for this reason it is virtually impossible to discuss plot in isolation from character. Character and plot are, in fact, intimately and reciprocally related, especially in modern fiction. A major function of plot can be said to be the representation of characters in action, though as we will see the action involved can be internal and psychological as well as external and physical. In order for a plot to begin, someRead MoreThe Ballad of the Sad Cafe46714 Words   |  187 Pagesnovel, The Heart Is a Lonely Hunter, became a literary sensation. Since that time, her reputation has grown with every successive work. Such novels as Reflections In a Golden Eye, The Member of the Wedding and Clock Without Hands have won her comparison with such diverse masters as Melville, Flaubert and Faulkner -- which is to say: no critic has succeeded in easily capsulizing the full dimensions of her talent. Perhaps none of her works more brilliantly represents the variety and richness ofRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesspecialize in one or the other of what have been viewed as very different wars, Morrow not only compares the two conflicts in detail, but also approaches each war and its linkages from a thoroughly global perspective. This combination of rigorous comparison and breadth allows him to repeatedly challenge longestablished myths, provide alternatives to narrowly conceived interpretations, and offer quite an original take on the most extensively covered conflicts in human history and the decades of unprecedentedRead MoreLogical Reasoning189930 Words   |  760 PagesCalifornia USA in 1993 with ISBN number 0-534-17688-7. When Wadsworth decided no longer to print the book, they returned their publishing rights to the original author, Bradley Dowden. The current version has been significantly revised. If you would like to suggest changes to the text, the author would appreciate your writing to him at dowden@csus.edu. iv Praise Comments on the earlier 1993 edition, published by Wadsworth Publishing Company, which is owned by Cengage Learning: There isRead MoreLibrary Management204752 Words   |  820 Pages. Figure 12.1. The Stages of a Career . . . . . . . . . . . . . . Figure 12.2. A Part of the Security Policy of the Decatur Public Library . . . . . . . . . . . . . . . . . . . . Figure 13.1. Maslow’s Hierarchy of Human Needs . . . Figure 13.2. Comparison of Maslow’s and Herzberg’s Motivation Theories . . . . . . . . . . . . . . . . . Figure 13.3. Elements of Effective Goal Setting . . . . . Figure 14.1. Three Elements of Effective Leadership . Figure 14.2. Likert’s Four Systems of Leadership .

Shanghai Tang the First Global Chinese Luxury Brand free essay sample

The First Global Chinese Luxury Brand Table of Content Pg3: What is a luxury brand? How is it different from a regular, mass-market brand? How does one build a luxury brand? Pg4 amp; 5: How would you characterize Shanghai Tang’s brand image and sources of brand equity? Pg5 amp; 6: What are the strengths and weaknesses of the brand’s existing Personality and image? Pg7: What might have accounted for Shanghai Tang’s unsatisfactory results in building a global luxury Chinese brand? What could they or should they have done differently? How has Shanghai Tang positioned itself relative to other luxury brands? How might the positioning be improved? Pg10: Reference page What is a luxury brand? How is it different from a regular, mass-market brand? How does one build a luxury brand? â€Å"David Tang’s vision was to create a lifestyle brand that reintroduced Chinese aesthetics to a consumer audience†. 1 He wanted to take old and modern Chinese culture and put in a fashion line that made sense to a new audience. Shanghai Tang was geared from the beginning to be China’s first global luxury brand, but getting to that point was easier said then done. By creating a stepping-stone to go worldwide, Tang’s vision would be the start of putting China in the spotlight for future global investments. A luxury brand is a product that is usually not essential, but is wanted because of the image that they portray. Being a luxury brand is usually associated with affluence, and carries a prestige along with its name. Luxury brands are usually produced with a higher quality of care and attention to detail. Unlike mass-market brands, luxury brands are fairly exclusive and have large price tags. Mass-market brands are usually taken lightly and are not as lavish like the difference between a Kia and a Mercedes-Benz. When building a luxury brand from the ground up proper data needs to be gathered to insure no costly mistakes are made. By calling it a luxury brand it assumes a certain segment of the market including age, education, and income levels. This is much harder when trying to become a global brand because you’re trying to understand local tastes in other parts of the world and you’re competing with other local products and services that are used and trusted already. Luxury brands have to be marketed properly in order to have a sustainable future, When Tang entered The New York market his fashions and other Chinese kitsch were met with confusion. The old and modern takes were lost on the wealthy American audience and it ultimately cost Tang their location. How would you characterize Shanghai Tang’s brand image and sources of brand equity? When Tang set out to build a lifestyle brand from the ground up I think he got in deeper then he could handle. Although his brand did have some powerful backing from celebrities and a large European conglomerate it still wasn’t enough to glide into the hearts and minds of consumers around the world. Tang’s flamboyant take on old and modern didn’t hit big with American audiences and his sales in areas other then the Hong Kong flagship didn’t meet expectations. The brand value that tang was trying to build would be later realized with Raphael le Masne De Chermont altered vision of Tang’s original idea. The truth behind Shanghai Tang’s brand equity is it took a long time to mature into what it is today. In terms of the overall value of the brand in Hong Kong it was strong, but it was sluggish in America, Japan, and Europe. Tang’s source of inspiration for his brand came from Chinese fashion from the 1920s and 30s. This is something that most people other then China wouldn’t really understand. It was very hard for him to convince others of his vision of Chinese culture and fashion to be accepted as a global brand. The true source of his brand value was cultivated out of Tang’s wealth and his ties to other wealthy companies. Although tourist and the Chinese youth took a liking to his brand it was a harder sell to other segments of the population. Tang’s own personality was a source as well, he wanted to play broker between east and west but I don’t really think he took the time to understand that his clothing wasn’t the problem but instead how he tried to market his brand. He was chasing a wealthy market that didn’t really pay much attention to his dealings. His brand-exhibited things that the public just wasn’t educated enough about and his over the top execution didn’t stick to consumers like he thought it would. When consumers trust a brand and find it relevant, they may select the offerings associated with that brand over those of competitors, even at a premium price. 2 What are the strengths and weaknesses of the brand’s existing personality and image? Le Masne later abandoned Shanghai Tang marketing concept of a high fashion clothing line to wealthy Americans in an effort to focus more on China. The Idea Le Masne had been to play to the strengths instead of its weakness. The image wasn’t bad overseas it was just weak and could’ve used more research before diving in again. Even though there was a lot backing up Tangs investment he had his sights set high and couldn’t really follow through with his plans of globalizing his brand. The image and personality of Tangs may have seemed a bit pretentious and a little over the top for most middle class consumers and even some wealthy ones. Some of the weaknesses displayed in Tang’s approach have to do entirely with his head on tactics. Instead of identifying common customer needs worldwide and determining the global brand image, He set his sights on rapid growth in an intensely competitive market. Brands are the face embodiment of a firm and Tang didn’t identify with most people, and couldn’t show both function and emotional benefits to his customers. 3 Another weakness in my view is that Tang seemed more interested in establishing a global brand name then actually going beyond that point itself. The perception of global brands can mean very different things around the world. Take McDonalds they operate in over 119 countries but each country perceives McDonalds in a different way. Weather it be a hang out for teenagers or a place that is fast and family friendly or even the value that can be gotten for very little money. Each of these positions reflects the brand image and what it means to other countries when they see the golden arches. Shanghai Tang didn’t really try to position itself in a multitude of ways, Tang just wanted to create a new project to put his family name to. By creating a brand that he wanted to take globally he should have thought about the diverse challenges that retail can pose. Although Tang’s vision had problems it also had strengths. Shanghai Tang was and is the first global luxury brand out of China to make an impact worldwide. The fact that tang was able to obtain the financial and symbolic backing of a European luxury conglomerate also makes Tang’s brands something to recognize especially for future Chinese firms. It should also be noted that along with the original store in Hong Kong 24 other outlets were open worldwide making the brand globally recognized. Trying to approach the wealthy around the world to see Tang’s vision wasn’t bad but rather short sighted, and in the long run affected the brands image. What might have accounted for Shanghai Tang’s unsatisfactory results in building a global luxury Chinese brand? What could they or should they have done differently? Most luxury brands are rather small or medium sized, except for a few large luxury conglomerates such as LVMH and PPR Gucci. 4 Tang enter a very risky market that is always loosing competitors because of fierce competition. In 2011 the flagship store in Hong Kong was closed because of high rent and maybe other undisclosed issues having to deal with low profit margins. Tang seemed to run with a Top-Down approach that made a little more vulnerable to future progress then was initially anticipated. The brand that Shanghai reflected didn’t run constantly with other countries and ultimately caused loses. The Brand identity fell short with consumers that weren’t from China and I think this was Cause by an unsure Brand. There were incongruity in presenting both pre-revolutionary and cultural revolution styles in the same store, and the tongue-in-check, post modern take on China’s heritage was ultimately lost on the wealthy American buyer. 5 Trying to convince a bunch of wealthy consumers that you should buy into us because we’re funky and out there and willing to take risks can only work some of the time. It’s a bigger gamble then a Coke trying to extend itself to a new country. Coke is very well established and recognized brand, but Shanghai Tang’s is still low on most people’s radar. Being able to establish a brand that people can trust and want to participate in is what should have come up at more meetings. The fact remains that David Tang was no big shot CEO; He was a rich kid that wanted to paint his name on the walls wherever he went. The business/ retail world is not very forgiving when you don’t do your homework. Having put his name on the line wasn’t enough, rather tackling a community of consumers that he might have seen at parties was what it seemed like he did. Tang could have been a little less ambitious to start with; it would have given him the room to grow instead of assuming that he had everything under control. Wealth and tourist don’t always go together but it seemed to work at the flagship store. Focusing on the Chinese upper class instead of foreign wealth in Europe and America would have made more sense, based on the population in China, there are over a million millionaires and a large market for growth opportunities. Slow market growth outside of China and a misdirected brand hurt, but with a shuffling of positions and new leadership, Tang’s was given another fighting chance to prove itself. How has Shanghai Tang positioned itself relative to other luxury brands? How might the position be improved? Many other brands such as LVMH Moet Hennessy Louis Vuitton, Ralph Lauren, Giorgio Armani, and Hermes have all migrated to the emerging Chinese market. Since there has been a booming demand for luxury goods in the Chinese market. Other companies such PPR SA (PP) and L’Oreal SA (OR) have also seen growth in the first half of 2012. 6 The thing is all these companies have been well established in the American and European markets for a long time, where as Shanghai Tang has not. Although it has made a mark in several countries it is struggling to maintain a foothold and has lost two stores in the process. Shanghai Tang positioned itself among all these other well-recognized brands and tried to go toe –to – toe, but they fell short in a few instances. Tang tried to push his brand into the spotlight way to fast and began to expand before he got his feet wet. He wanted to establish his brand to consumers that had little to no knowledge of Chinese culture, even in today’s market the most we know about China is that most of our products are being assembled or manufactured there. Even Ralph Lauren came under fire for Olympic uniforms that were made in china. China is indeed an emerging economic power and presents a lot of opportunity for growth in many markets, but just the opposite way I think some markets aren’t ready for China. David Tang wanted to be in league with all the other big players on the market, but failed to see his shortcomings. Tangs vision had to be repositioned in order to save what they already had and were able to rethink their initial focus. After a little rewiring and tweaking and under new management Tang began to see growth and was able to see the silver lining. It’s still stings that the flagship has fallen but the firm is still standing. Positioning helps consumers understand a firm’s identity and allows them to solidify an image to go with your name. After trying and failing Tang should’ve understood that he needed to refocus is attempt at the American market, and what wealthy Americans want or perceive when they think about Chinese fashion. Tang should understand as well that luxury goods work on a different level of production time and don’t see profits as often or as soon as mass market brands. In general more needs to be researched and understood of the growing Chinese market and more has to be done in order for other countries to accept a bold new products from China. As soon as other countries start to understand the new position that Shanghai Tang takes and can identify the brand as someone they can trust then it will attract more then the wealthiest markets and tourist.

Sociological Indicators of Energy Poverty

Free Essays on Richard Hamiltons Just What Is It...

The piece entitled Just What is it That Makes Today’s Home So Different, So Appealing by Richard Hamilton is a collage of pictures from the early to mid-50’s. It is my belief that Hamilton attempted to predict the future of America by focusing on the shallow desires of human nature: sex, wealth, and superiority. His prediction was not far off in comparison to present-day standards. In Hamilton’s collage the man and the woman seem to be his main focal points. I believe that Hamilton looked at a man’s most primitive sexual impulses and depicted the characters as he did. In the picture the woman is provocatively dressed in doilies and a lampshade. Hamilton may have been trying to express his thoughts, visually, of what men want in women: beautiful, emotionless, and excited (in the sexual sense). On the other hand, what women want in men is also what men want in themselves: big muscles and an overly large â€Å"blow pop†. Another point I think Hamilton was trying to make was how Big Business, or corporate America, tricks people into thinking that if they have more than others do, happiness is their reward. In the piece the couple has a household of trendy gadgets and toys, even a vacuum that goes all the way upstairs, but they lack happiness. Maybe the reason neither of them is happy is because they’ve realized that even though they have beautiful spouses, a nice house, expensive possessions, and even pre-packaged ham, they’re still miserable. Hamilton’s piece definitely has a deeper meaning and an important lesson, but whether or not the meaning he was trying to convey was received as he would have wanted, I do not know. It was an obvious attempt to give a visual depiction of America or the world in the not-too-distant future. These are young, rich, beautiful white people with a lot of expensive and an emotionally unstable relationship. It seems that his predictions were not as far off as expected.... Free Essays on Richard Hamiltons Just What Is It... Free Essays on Richard Hamiltons Just What Is It... The piece entitled Just What is it That Makes Today’s Home So Different, So Appealing by Richard Hamilton is a collage of pictures from the early to mid-50’s. It is my belief that Hamilton attempted to predict the future of America by focusing on the shallow desires of human nature: sex, wealth, and superiority. His prediction was not far off in comparison to present-day standards. In Hamilton’s collage the man and the woman seem to be his main focal points. I believe that Hamilton looked at a man’s most primitive sexual impulses and depicted the characters as he did. In the picture the woman is provocatively dressed in doilies and a lampshade. Hamilton may have been trying to express his thoughts, visually, of what men want in women: beautiful, emotionless, and excited (in the sexual sense). On the other hand, what women want in men is also what men want in themselves: big muscles and an overly large â€Å"blow pop†. Another point I think Hamilton was trying to make was how Big Business, or corporate America, tricks people into thinking that if they have more than others do, happiness is their reward. In the piece the couple has a household of trendy gadgets and toys, even a vacuum that goes all the way upstairs, but they lack happiness. Maybe the reason neither of them is happy is because they’ve realized that even though they have beautiful spouses, a nice house, expensive possessions, and even pre-packaged ham, they’re still miserable. Hamilton’s piece definitely has a deeper meaning and an important lesson, but whether or not the meaning he was trying to convey was received as he would have wanted, I do not know. It was an obvious attempt to give a visual depiction of America or the world in the not-too-distant future. These are young, rich, beautiful white people with a lot of expensive and an emotionally unstable relationship. It seems that his predictions were not as far off as expected....

Allegiant Airlines Research Paper Example | Topics and Well Written Essays - 1750 words

Allegiant Airlines - Research Paper Example Finally, Capt. Dave served in the capacity of Chief Pilot. In 1998, the company got FAA and Department of Transportation (DOT) Certification. This officially allowed them to operate charter and scheduled flights locally within the USA and also included international destinations like Canada and Mexico (Company, 2007). Allegiant Travel Co. retained sole ownership of Allegiant Airline until December, 2000 when changes in the ownership structure occurred. These changes proved to be necessary especially with the company’s failure to generate enough revenue to stay afloat. As a result, the company had to file for Chapter 11 Bankruptcy protection in 2000 and ownership shifted to Maurice J. Gallagher, Jr. during the reorganization phase. Gallagher used his prior knowledge acquired while working with other esteemed Airlines to transform Allegiant Airline into its current form. He did this by changing the company’s market target to smaller entrepreneurs in need of chartered and scheduled services neglected by larger airlines. To this date, the company boasts over 1,800 employees working all around the world (Company, 2007). The company’s headquarters are in Enterprise, Nevada. Gallagher is also responsible for shifting the company’s headquarters from the airline’s initial hub located in Fresno, California to Enterprise, Nevada in June, 2001 (Wheelen, 2011). The new restructured company model cut down the company’s operation costs and catered for the untapped market consisting of small-scale entrepreneurs. The fact that Gallagher was the main creditor of the previously bankrupt Allegiant Airline meant that the company’s previous debts could officially be written off. This would give the company a fresh start. This allowed for Allegiant Airline to generate revenue allowing it to settle the remaining debts with its creditors. Gallagher remained CEO and guided the company through the entire processes carried out with the aim of exiting bankruptcy. His hard work finally paid off in March, 2002 when the company successfully emerged from its bankrupt state. As a result, Gallagher signed a long-term contract with Harrah’s providing charter services to Harrah’s casinos. This allowed for the company to venture into other prospects, which would allow the company to diversify the services it provided. Allegiant, therefore, begun to provide air and hotel packages to its clients (Airline, 2012). Initially, Allegiant Airline was a privately owned company. However, in November, 2006, the company decided to publically offer its Common Stock under the ticker symbol ‘ALGT’. Throughout the years, Allegiant Airline continually expands by branching out into other focus cities, for example, Florida, Los Angeles, and, Washington among others. In addition, the company continually provides exceptional services to its clients just as it did before, in its headquarters, in Nevada. Throughout the years, Allegiant Company continues to prove to other companies how proper management is an integral part in the achievement of success within any organization (Company, 2007). Allegiant’s mission statement seeks to provide affordable flight charges to individuals operating on a small scale level. This occurs via the provision of travelling opportunities to

Battle of Algeria Essay Example | Topics and Well Written Essays - 500 words

Battle of Algeria - Essay Example Instead, it brings out the working practices of institutional structures, the aesthetic strategies associated with that as well as related cultural politics. One good example of Third Cinema is The Battle of Algiers, which is a departure from the characteristic Hollywood style of drama. In its creation of a false sense of documentary, it makes use of simple tools. It has a background of the reporting styles of the 1960s. The production employs such tools as a flashback narrative structure, grainy black and white stock, handheld camera, zoom lens as well as long lenses. The film achieved both commercial success as well as an aesthetic success. Its success at the Venice Film Festival surprised many. It received a lot of praises especially in Europe and the United States. The climax of the success, it enjoyed globally was the eleven cinema awards it won between 1966 and 1967. During that time, it also got three Oscar nominations. The Battle of Algiers was a 1965 production of Italian director Gillo Pontecorvo with cooperation from the revolutionary government of Algeria. The film goes against conventional Hollywood procedures. Shooting in a studio with the use of popular professional actors was not a consideration. Instead, it uses a real life set up with only one actor. That led to its classification as a quasi-documentary. The choice of scenes for the film serves Pontecorvo’s objective. His aim is to give it a realistic touch. The film captures Casbah, a traditionally Muslim part of Algiers, as the scenes are in its marketplaces and narrow streets. Jean Martin, the only professional actor, plays the role of Colonel Mathieu. The fact that the producer was Italian may have led to the film’s similarities to Italian Neo-realism. Pontecorvo elects to use simple equipment so as to create a visual effect similar to that of a documentary. The

Effectiveness and Efficiency of Distribution Channels In FMCG

Effectiveness and Efficiency of Distribution Channels In FMCG Fast Moving Consumer Goods popularly known FMCG is as the name suggests is the most demanded products in the market. It includes everything from food items like flour, biscuits, ice creams, etc to body products soaps, face creams to cigarettes to beverages, etc. consumers need these things in their everyday life so they invests a good portion of there income in these things. There are so many companies which are dealing in FMCG products like HUL, Dabur, Cavin Care, AMUL dealing in dairy products, etc. By the vary nature of the product the companies are seeing this as a great source of income. As large number of companies are looking this sector as a profitable venture, so for sustaining there position and gain new market they have to bring some thing unique in their products or services to gain position in the market or to sustain there. In modern business distribution network has a great impact on the success of any business. In the FMCG segment the role of a excellent distribution channel becomes even more crucial because the delivery of FMCG Product is confined to day to day basic. Hence in order to survive and thrive in a highly competitive market you have to have a distribution channel which has no problem at any point of the distribution channel. The factor which is of crucial importance to survive in any business is the understanding of the mind of the individual consumers. What are main characteristics which consumer consider while making a purchasing decision regarding FMCG Product. In order to make right decision regarding all these aspects the company requires a complete knowledge of the problems faced in distribution channel and what should be done in order to overcome all these problems. Better infrastructure facilities will improve their supply chain. FMCG sector is also likely to benefit from growing demand in the market. Because of the low per capita consumption for almost all the products in the country, FMCG companies have immense possibilities for growth. And if the companies are able to change the mindset of the consumers, i.e. if they are able to take the consumers to branded products and offer new generation products, they would be able to generate higher growth in the near future. Table of Contents Introduction A Distribution Channel is a set of interdependent organizations (intermediaries) involved in the process of making a product or service available for use or consumption by the consumer or business user. Channel decisions are among the most important decisions that management faces and will directly affect every other marketing decision. Functions of Distribution Channel All Use Up Scarce Resources All May Often Be Performed Better Through Specialization All Can Often Be Shifted Among Channel Members Types of Distribution Channel A channel of distribution or trade channel is the path or route along which goods move from producers to ultimate consumers or industrial users. In other words, it is the distribution network through which a producer puts his product in the hands of actual users. The channel of distribution includes the original producer, the final buyer and any middlemen-either wholesaler or retailer. The term middleman refers to any institution or individual in the channel which either acquires title to the goods or negotiates or sells in the capacity of an agent or broker. But facilitating agencies that perform or assist in marketing function are not included as middlemen in the channel of distribution. This is because they neither acquire title to the goods nor negotiate purchase or sale. Such facilitating agencies include banks, railways, roadways, warehouses, insurance companies, advertising agencies, etc. The following diagram (chart) is illustrative of the channel of distribution which may exist in a market: The above chart indicates that the number of middlemen may vary. If there is direct sale by the produce to the consumers then there is no middleman. But that is very rare. As the chart shows the producer may sell goods to retailer who may then sell the same to consumers. The producer may sell goods to wholesalers who may inturn sell to retailers and the retailer may sell to consumers. The fourth alternative channel of distribution is when any agent/dealer intervenes between the producer and retailers and acts as a middlemen. The agent is appointed by the producer for the sale of goods to the retailers. Another alternative channel is there when producers agent sells goods to wholesalers who sell to retailers. Agent/dealer is an independent person/firm buying goods and selling them to retailers. Agent/dealer may also sell to wholesalers who may then sell to retailers and goods are thus made available to consumers. In the channel of distribution there may be more than one agent/dealer and wholesaler. A brief explanation of different channels of distribution is given below: Manufacturer Æ’Â  Customer: This is also known as direct selling because no middlemen are involved. A producer may sell directly through his own retail stores, for example, Bata. This is the simplest and the shortest channel. It is fast and economical. Small producers and producers of perishable commodities also sell directly to the local consumers. Big firms adopt direct selling in order to cut distribution cost and because they have sufficient facilities to sell directly to the consumers. The producer or the entrepreneur himself performs all the marketing activities. Manufacturer Æ’Â  RetailerÆ’Â  Customer: This is one stage distribution channel having one middleman, i.e., retailer. In this channel, the producer sells to big retailers like departmental stores and chain stores who in turn sell to customer. This channel is very popular in the distribution of consumer durables such as refrigerators, T V sets, washing machines, typewriters, etc. This channel of distribution is very popular these days because of emergence of departmental stores, super markets and other big retail stores. The retailers purchase in large quantities from the producer and perform certain marketing activities in order to sell the product to the ultimate consumers. Manufacturer Æ’Â  WholesalerÆ’Â  RetailerÆ’Â  Customer: This is the traditional channel of distribution. There are two middlemen in this channel of distribution, namely, wholesaler and retailer. This channel is most suitable for the products with widely scattered market. It is used in the distribution of consumer products like groceries, drugs, cosmetics, etc. It is quite suitable for small scale producers whose product line is narrow and who require the expert services and promotional support of wholesalers. Selection Criteria of a Distribution Channel While selecting a distribution channel, the entrepreneur should compare the costs, sales volume and profits expected from alternative channels of distribution. In order to select the right channel for distributing his product, a small-scale manufacturer should keep in mind the following considerations: Market Considerations: The nature of the market is a key factor influencing the choice of channels of distribution. The following features of the market should be considered to determine the channels: Consumer or Industrial Market: If the product is meant for industrial users, the channel of distribution will be a short one. This is because industrial users buy in a large quantity and the producer can easily establish a direct contact with them. But in case for goods meant for consumers, retailers may have to be included in the channels of distribution. Number and location of buyers: When the number of potential customers is small or the market is geographically located in a limited area, direct selling is easy and economical. In case of large number of customers, use of wholesalers and retailers becomes necessary. Size of order: Direct selling is convenient and economical where customers place order in big lots as in case of industrial goods. But where the product is sold in small quantities, middlemen are used to distribute such products. A manufacturer may use different channels for different types of buyers. He may sell directly to big retail stores and may use wholesalers to sell to small retailers. Customers buying habits: The customer buying habits like the time he is willing to spend, the desire for credit, the preference of personal attention and one stop shopping significantly affect the choice of distribution channels. Product Considerations: The type and nature of the product influence the number and type of middlemen to be chosen for distributing the product. The important factors with respect to the product are as follows: Unit value: Products of low unit value and common use are generally sold through middlemen, as they cannot bear the cost of direct selling. On the other hand, expensive consumer goods and industrial products are sold directly by the producers. Perishability: Perishable products like vegetables, fruits and bakery items have relatively short channels, as they cannot withstand repeated handling. Goods, which are subject to frequent changes in fashion and style, are generally distributed through short channels, as the producer has to maintain close and continuous touch with the market. Bulk and weight: Heavy and bulky products are distributed directly to minimize handling costs. Coal, bricks, stones, etc., are some examples. Standardisation: Custom-made and non-standardised products usually pass through short channels due to the need for direct contact between the producer and the consumers. Standardized and mass-made goods can be distributed through middlemen. Technical nature: Industrial products requiring demonstration, installation and aftersale service are often sold directly. The consumer products of technical nature are generally sold through retailers. Product line: An entrepreneur producing a wide range of products may find it economical to set up its own retail outlets. On the other hand, firms with one or two products find it profitable to distribute through wholesalers and retailers. Age of the product: A new product needs greater promotional effort and few middlemen may like to handle it. As the product gains acceptance in the market, more middlemen may be employed for its distribution. Middlemen Considerations: The cost and efficiency of distribution depend largely upon the nature and type of middlemen as given in the following factors: Availability: When middlemen as desired are not available, an entrepreneur may have to establish his own distribution network. Non-availability of middlemen may arise when they are handling competitive products, as they do not like to handle more brands. Attitudes: Middlemen who do not like a firms marketing policies may refuse to handle its products. For instance, some wholesalers and retailers demand sole selling rights or a guarantee against fall in prices. Services: Use of those middlemen is profitable who provide financing, storage, promotion and aftersale services. Sale Potential: An entrepreneur generally prefers a dealer who offers the greatest potential volume of sales. Costs: Choice of a channel should be made after comparing the costs of distribution through alternative channels. Company Considerations: The nature, size and objectives of the business firm also play an important role in the selection of distribution channel. It includes financial resources, market standing, volume of production, desire for control of channel, services provided by manufacturers, etc. For example a company with substantial financial resources need not rely too much on the middlemen and can afford to reduce the levels of distribution. Similarly a company desiring to exercise greater control over channel will prefer a shorter channel. After deciding the number of middlemen, an entrepreneur has to select the particular dealers through whom he will distribute his products. While selecting a particular wholesaler or retailer, the following factors should be taken into consideration: a. Location of dealers business premises; b. Financial position and credit standing of the dealer; c. Knowledge and experience of the dealer; d. Storage and showroom facilities of the dealer e. Ability of the dealer to secure adequate business and to cover the market; f. Capacity of the dealer to provide aftersale service; g. General reputation of the dealer and his sales force; h. Willingness of the dealer to handle the entrepreneurs products; i. Degree of co-operation and promotion service he is willing to provide; j. Nature of other products, if any handled by the dealer. Need for Distribution Channel Why are all these layers needed in distribution ? Why cant a producer simply sell to a retailer, who sells to a consumer? Its a fair question, and in some cases, that is exactly how it happens. But the fact is that many producers are either too small or too large to handle all the necessary functions themselves to get their products to market. Consider the small, specialty manufacturer who is terrific at making fine leather handbags but may not have the expertise to market its products as well as it makes them, or they may not have the money to hire a team of full-time salespeople to court the customers and secure the orders. An intermediary who works for several small, noncompeting firms can easily handle those functions cost-effectively. An intermediary who specializes in importing and exporting can handle the intricacies of customs paperwork, overseas shipping, and foreign markets, too. Conversely, large companies need intermediaries because they are also in the business of manufacturing, not marketing. Turning out tens of thousands of cases of soft drinks, for instance, do you think Pepsi has time to take and fill individual orders from households? Channel members like wholesalers and retailers are useful because they are best at specific aspects of sales in their markets, leaving the manufacturers to do what they do best-which is turn out the best possible product. Having a distribution channel breaks the whole buying and selling process and all its related negotiations into manageable tasks, each performed by companies that specialize in certain skills. Using an import wholesaler, for example, can be handy because they know the laws and customs of the suppliers nations; and they generally offer their own lines of credit so the retailer wont have to deal with currency exchange or negotiate payment terms with a bank in another country. Another advantage of the distribution channel is its ability to even out the natural ebbs and flows of a supply chain. This comes from the ability of some channel members to store excess goods until they are needed, and to stockpile goods in anticipation of seasonal sales peaks. Depending on how close their relationships, channel members may also work together to purchase goods or services in greater quantity at discounts, passing the savings on to customers. Even for consumers, the distribution chain is handy-beyond handy, in fact! It has become a necessity in our society. What if there were no supermarkets, for instance? Can you imagine how much more time and money you would spend having to buy every item at its source? How practical would it be to run out to the nearest farm to pick up a quart of milk and some salad ingredients on your way home from work? FMCG Sector Overview FMCG is an acronym for  Fast Moving Consumer Goods, which refer to things that we buy from local supermarkets on daily basis, the things that have high turnover and are relatively cheaper. Products which have a quick turnover, and relatively low cost are known as Fast Moving Consumer Goods (FMCG). FMCG products are those that get replaced within a year. Examples of FMCG generally include a wide range of frequently purchased consumer products such as toiletries, soap, cosmetics, tooth cleaning products, shaving products and detergents, as well as other non-durables such as glassware, bulbs, batteries, paper products, and plastic goods. FMCG may also include pharmaceuticals, consumer electronics, packaged food products, soft drinks, tissue paper, and chocolate bars. A subset of FMCGs is Fast Moving Consumer Electronics which include innovative electronic products such as mobile phones, MP3 players, digital cameras, GPS Systems and Laptops. These are replaced more frequently than other electronic products. White goods in FMCG refer to household electronic items such as Refrigerators, T.Vs, Music Systems, etc. These types of goods are required frequently by consumers and so a large part of the monthly salary or income will be spent on buying all the goods listed on the consumers shopping list. New players keep joining the FMCG circles but find the going tough unless they have a well planned strategy along with large cash reserves for their product promotion. A particular FMCG company might be a strong urban market leader, but will still find it tough to enter the rural markets or a new Indian state or area. Although FMCG companies generate a large volume of sales and money, they are always under pressure as they keep facing a lot of competition from their fellow competitors. Due to this, the FMCG companies try to do their level best in maintaining a fine balance in their profits and the product price. Thus they keep facing new challenges on their margins month after month. One of the key factors for an FMCG company to do well is a proper distribution network. If a distribution network of a particular FMCG company is well oiled, then that particular FMCG Company will definitely find the going much easier in the market. But companies have to allot a large chunk of their finances in developing and fine tuning their distribution networks. The promotion of a product of an FMCG company too is considered very crucial for its success. The market has many players. Every FMCG company has to fight for its space and audience in the Indian market. Thus, when a multinational company enters the Indian market, it creates an even bigger challenge to the existing players on the FMCG scene. If the promotion is done well, then the manufacturing of the product can even be outsourced. This can save valuable finance for a company. This in turn will help the company to utilize their energies on other aspects of their product. Some of the top players on the FMCG scene in India are Hindustan Unilever Ltd., ITC (Indian Tobacco Company), Nestlà © India and Dabur India. So, we can say that FMCG are the products which are: Sold quickly at relatively low cost Sold in large quantities Have low absolute profit but high cumulative profit Sector Performance FMCG is one of the few sectors that has been unscratched and has shown consistent growth despite economic recession and this can be proved by some of the leading magazines articles like: According to Business Standard-FMCG resilient to the economic slowdown and dip in consumer sentiment. According to Economic times it is one of the very few sectors undergoing MA in recent times. Economic times also comment that Indian rural market in untapped and unpenetrated. The growth in this sector is also evident from the fact that many FMCG companies are planning to foray into West Asia, South Africa and Egypt. FMCG industry  provides a wide range of consumables and accordingly the amount of money circulated against FMCG products is also very high. The competition among FMCG manufacturers is also growing and as a result of this, investment in FMCG industry is also increasing, specifically in India, where FMCG industry is regarded as the fourth largest sector with total market size of US$13.1 billion. FMCG Sector in India is estimated to grow 60% by 2010. FMCG industry is regarded as the largest sector in New Zealand which accounts for 5% of Gross Domestic Product (GDP). Some of the merits of FMCG industry, which made this industry as a potential one are low operational cost, strong distribution networks, presence of renowned FMCG companies. Population growth is another factor which is responsible behind the success of this industry. Some of the well known FMCG companies are : Sara Lee Nestlà © Reckitt Benckiser Unilever Procter Gamble Coca-Cola Carlsberg Kleenex General Mills Pepsi Mars etc. FMCG industry  creates a wide range of job opportunities. This industry is a stable, diverse, challenging and high profile industry providing a wide range of job categories like sales, supply chain, finance, marketing, operations, purchasing, human resources, product development, and general management. Indian FMCG Sector FMCG is the fourth largest sector in the Indian Economy with a total market size of Rs. 60,000 crores. FMCG sector generates 5% of total factory employment in the country and is creating employment for three million people, especially in small towns and rural India. The FMCG sector in India is a sector which is dominated by a high level competition between all the players. This particular sector includes MNCs as well as local Indian companies. Certain companies are leaders in a particular state or area. While some of the companies are very strong in the rural areas compared to the urban areas. Some of the most powerful companies in the FMCG sector are: Hindustan Unilever Ltd., ITC (Indian Tobacco Company), Nestlà © India, GCMMF (AMUL), Dabur India, Asian Paints (India), Cadbury India, Britannia Industries, Procter Gamble Hygiene and Health Care and Marico Industries. All these companies have a proper distribution network along with proper product promotion tools which have helped them to regularly increase their sales and visibility on the Indian scene. Well-established distribution networks, as well as intense competition between the organised and unorganised segments are the characteristics of this sector. FMCG in India has a strong and competitive MNC presence across the entire value chain. It has been predicted that the FMCG market will reach to US$ 33.4 billion in 2015 from US $ billion 11.6 in 2003. The middle class and the rural segments of the Indian population are the most promising market for FMCG, and give brand makers the opportunity to convert them to branded products. Most of the product categories like jams, toothpaste, skin care, shampoos, etc, in India, have low per capita consumption as well as low penetration level, but the potential for growth is huge. The Indian Economy is surging ahead by leaps and bounds, keeping pace with rapid urbanization, increased literacy levels, and rising per capita income. The big firms are growing bigger and small-time companies are catching up as well. According to the study conducted by AC Nielsen, 62 of the top 100 brands are owned by MNCs, and the balance by Indian companies. Fifteen companies own these 62 brands, and 27 of these are owned by Hindustan Lever. Pepsi is at number three followed by Thums Up. Britannia takes the fifth place, followed by Colgate (6), Nirma (7), Coca-Cola (8) and Parle (9). These are figures the soft drink and cigarette companies have always shied away from revealing. Personal care, cigarettes, and soft drinks are the three biggest categories in FMCG. Between them, they account for 35 of the top 100 brands. Hindustan Unilever Limited has been operating in India from a long time. They are Indias largest FMCG Company and are also one of Indias largest exporters. The list of their popular products is a very large one. Some of their popular products are Lifebuoy, Rexona, Lux, Liril, Lipton Tea, Brooke Bond Tea, Bru Coffee, Pepsodent, Surf, Rin, Wheel Laundry Detergent and Kissan. The company has an excellent research centre which was established in 1958 and has a strong team of highly qualified scientists. Recently they have launched new projects like Ayush Ayurvedic Products Services and Pureit Water Purifiers. ITC which was set up in 1910 in India was earlier known as Imperial Tobacco Company of India Limited. ITC has a vast presence in wide array of products and some of them are greeting cards, cigarettes, paperboards, packaging, branded apparel, foods confectionery and FMCG products. ITC has proved its worth by being one of Indias biggest foreign exchange earners. Although it already has many leading products from a long time, it is recently wooing over successfully new customers in its businesses of branded apparel, packaged foods confectionery and greeting cards stationery. Nestlà © first made its presence in India in 1912. It has always managed to get itself listed in Indias Most Respected Companies. This has been possible due to its practice of producing products of a global standard in India. It has also been able to provide customer satisfaction to the consumers of its products. The success of Gujarat Cooperative Milk Marketing Federation (GCMMF) has proved that a cooperative too can grow into a top class company if it is backed by proper vision, hard work and a quality product. This has helped it to become the largest food product marketing organization in India. Some of its popular products are Amul Ice cream, Amul Milk, Amul Butter, Amul Shrikhand, Amul Milk Powder, Amul Ghee and Amul Cheese. Thus the above four examples show a variety of factors which are responsible for turning a company into a leading FMCG company. The top 10 companies in India are as follows: The FMCG sector can be sub classified into: Personal Care: The personal care category has the largest number of brands, i.e., 21, inclusive of Lux, Lifebuoy, Fair and Lovely, Vicks, and Ponds.   There are 11 HLL brands in the 21, aggregating Rs. 3,799 crore or 54% of the personal care category. Cigarettes account for 17% of the top 100 FMCG sales, and just below the personal care category. ITC alone accounts for 60% volume market share and 70% by value of all filter cigarettes in India. Foods: The foods category in FMCG is gaining popularity with a swing of launches by HLL, ITC, Godrej, and others. This category has 18 major brands, aggregating Rs. 4,637 crore. Nestle and Amul slug it out in the powders segment. The food category has also seen innovations like softies in ice creams, chapattis by HLL, ready to eat rice by HLL and pizzas by both GCMMF and Godrej Pillsbury. This category seems to have faster development than the stagnating personal care category. Amul, Indias largest foods company, has a good presence in the food category with its ice-creams, curd, milk, butter, cheese, and so on. Britannia also ranks in the top 100 FMCG brands, dominates the biscuits category and has launched a series of products at various prices. Household care: In the household care category (like mosquito repellents), Godrej and Reckitt are two players. Goodknight from Godrej, is worth above Rs 217 crore, followed by Reckitts Mortein at Rs 149 crore. In the shampoo category, HLLs Clinic and Sunsilk make it to the top 100, although PGs Head and Shoulders and Pantene are also trying hard to be positioned on top. Clinic is nearly double the size of Sunsilk. Herbal care: Dabur is among the top five FMCG companies in India and is a herbal specialist. With a turnover of Rs. 19 billion (approx. US$ 420 million) in 2005-2006, Dabur has brands like Dabur Amla, Dabur Chyawanprash, Vatika, Hajmola and Real. Paint: Asian Paints is enjoying a formidable presence in the Indian sub-continent, Southeast Asia, Far East, Middle East, South Pacific, Caribbean, Africa and Europe. Asian Paints is Indias largest paint company, with a turnover of Rs.22.6 billion (around USD 513 million). Forbes Global magazine, USA, ranked Asian Paints among the 200 Best Small Companies in the World Chocolates/Confectionary: Cadbury India is the market leader in the chocolate confectionery market with a 70% market share and is ranked number two in the total food drinks market. Its popular brands include Cadburys Dairy Milk, 5 Star, Eclairs, and Gems. The Rs.15.6 billion (USD 380 Million) Marico is a leading Indian group in consumer products and services in the Global Beauty and Wellness space. Outlook for FMCG Sector: There is a huge growth potential for all the FMCG companies as the per capita consumption of almost all products in the country is amongst the lowest in the world. Again the demand or prospect could be increased further if these companies can change the consumers mindset and offer new generation products. Earlier, Indian consumers were using non-branded apparel, but today, clothes of different brands are available and the same consumers are willing to pay more for branded quality clothes. Its the quality, promotion and innovation of products, which can drive many sectors. Methodology Exploratory research: The exploratory research design is appropriate for any any problems in which a very little knowledge is available. An Exploratory study is in the nature of a preliminary phase and is absolutely essential in order to obtain a proper definition of problem in hand. So it is helpful in breaking broad and vague problems into smaller, more precise sub problem statements, hopefully, in the form of specific hypothesis. In this study the exploratory research has been used to frame structure questionnaires, individuals with knowledge and ideas have been interviewed to get the idea to frame structure questionnaire. A part from books and journals has been used to gather information about the insurance and the insurance industry. Data Collection: In this study internal and external source for data collection had been used. In the internal and external sources of data collection these two types of data comes into picture: Primary Data Secondary Data Primary Data All the primary data for the purpose of the study were obtained by interviewing the retailers with the help of a questionnaire. Questionnaires were framed on the basis of product its competition. The questions were designed in such a way as to elicit maximum information and data. Secondary Data Secondary data has been collected from books and websites. Internet websites: www.google.com, www.Coca-Cola.com, www.wikipedia.com, www.coca-colaindia.com Magazines Business World Management and Technology Questionnaire There can be two types of questionnaire. Questionnaire for Whole sellers: Name: Age: .. Area: . Years in the Business:. .. Date. http://2.bp.blogspot.com/_STNJ3qjC9Nk/SX30qf_Ve3I/AAAAAAAAAcU/P3nV5aXUBdY/s320/Coca-Cola_logo5.jpg Q1. Which coca cola cold drink brand sells the most? Coke b. ThumsUp c.Limca d. Sprite e. Fanta f. Maaza g.Others Q2. Which mineral water sells the most? Kinley b. Aquafina c. Bisleri d. Local brands Q3. What type of package cold drinks sells the most? 300ml bottle b. 600 ml pet bottle c.

Witnessing the Unwitnessable :: Essays Papers

Witnessing the Unwitnessable Against a black canvas glimmer countless particles of light. Some assert themselves as tiny pinpricks while others pool into swirls of color on the ebony backdrop. A cursory glance at these speckles might discern them as nothing but randomness, but a closer examination reveals a certain sense of artistic unity. Their palette is simple – shades of black, white, yellow, blue, red, orange – while their details are elegant. A whirl of gold dances nears a splotch of sapphire; a daub of dainty pink resembles a rose; drops of ivory encircle a void like a pearl necklace; lacy, white tendrils reach toward a spray of amber. These descriptions might hint at a painting, but in this case, the image in question has no artist – it is a photograph of deep space produced by the Hubble Space Telescope known as the Hubble Ultra Deep Field. Taken of a random patch of sky no larger than a grain of sand over a period of three months, this photograph contains an estim ated 10,000 galaxies, each of them billions of years old. This single, tiny frame has captured the profound immensities and beautiful harmony of the universe in an image that defies comprehension. The blackness of the night sky belies the menagerie of color and light hidden from our eyes. Many cosmological objects are too faint to be seen, many emit wavelengths of light our eyes do not know how to respond to, and many (the far side of the moon, for example) are impossible to behold from Earth’s surface. Astrophotography, which will here be broadly defined as â€Å"the capturing of all images of space,† provides a keyhole through which we may view celestial spectacles we would never normally see. Photons, particles of light, are often the only evidence we have of the existence of the vast majority of the objects in the universe. By committing these photons to photographic plates or pixels, astrophotographers capture an imprint testifying that whatever emitted them exists somewhere in the infinity. Seizing photons gives us the power to transform a remote and unimaginable galaxy into a real and tangible photograph. Even more important, viewing astr ophotography raises questions about the fundamental nature of both ourselves and the universe.

Global Financial Crisis: Causes and Effect Essay

The financial crisis that began in 2007 spread and gathered intensity in 2008, despite the efforts of central banks and regulators to restore calm. By early 2009, the financial system and the global economy appeared to be locked in a descending spiral, and the primary focus of policy became the prevention of a prolonged downturn on the order of the Great Depression. The volume and variety of negative financial news, and the seeming impotence of policy responses, has raised new questions about the origins of financial crises and the market mechanisms by which they are contained or propagated. Just as the economic impact of financial market failures in the 1930s remains an active academic subject, it is likely that the causes of the current crisis will be debated for decades to come. Financial Crisis The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Major causes of Financial Crisis Imprudent Mortgage Lending: Against a backdrop of abundant credit, low interest rates, and rising house prices, lending standards were relaxed to the point that many people were able to buy houses they couldn’t afford. When prices began to fall and loans started going bad, there was a severe shock to the financial system. Housing Bubble: With its easy money policies, the Federal Reserve allowed housing prices to rise to unsustainable levels. The crisis was triggered by the bubble bursting, as it was bound to do. Global Imbalances: Global financial flows have been characterized in recent years by an unsustainable pattern: some countries (China, Japan, and Germany) run large surpluses every year, while others run deficits. The U. S. external deficits have been mirrored by internal deficits in the household and government sectors. U. S. borrowing cannot continue indefinitely; the resulting stress underlies current financial disruptions. Securitization: Securitization fostered the â€Å"originate-to-distribute† model, which reduced lenders’ incentives to be prudent, especially in the face of vast investor demand for subprime loans packaged as AAA bonds. Ownership of mortgage-backed securities was widely dispersed, causing repercussions throughout the global system when subprime loans went bad in 2007. Lack of Transparency and Accountability in Mortgage Finance: Throughout the housing finance value chain, many participants contributed to the creation of bad mortgages and the selling of bad securities, apparently feeling secure that they would not be held accountable for their actions. A lender could sell exotic mortgages to home-owners, apparently without fear of repercussions if those mortgages failed. Similarly, a trader could sell toxic securities to investors, apparently without fear of personal responsibility if those contracts failed. And so it was for brokers, realtors, individuals in rating agencies, and other market participants, each maximizing his or her own gain and passing problems on down the line until the system itself collapsed. Because of the lack of participant accountability, the originate-to distribute model of mortgage finance, with its once great promise of managing risk, became itself a massive generator of risk. † Rating Agencies: The credit rating agencies gave AAA ratings to numerous issues of subprime mortgage-backed securities, many of which were subsequently downgraded to junk status. Critics cite poor economic models, conflicts of interest, and lack of effective regulation as reasons for the rating agencies’ failure. Another factor is the market’s excessive reliance on ratings, which has been reinforced by numerous laws and regulations that use ratings as a criterion for permissible investments or as a factor in required capital levels. Mark-to-market Accounting: FASB standards require institutions to report the fair (or current market) value of securities they hold. Critics of the rule argue that these forces banks to recognize losses based on â€Å"fire sale† prices that prevail in distressed markets, prices believed to be below long-term fundamental values. Those losses undermine market confidence and exacerbate banking system problems. Some propose suspending mark-to-market; EESA requires a study of its impact. Deregulatory Legislation: Laws such as the Gramm-Leach-Bliley Act (GLBA) and the Commodity Futures Modernization Act (CFMA) permitted financial institutions to engage in unregulated risky transactions on a vast scale. The laws were driven by an excessive faith in the robustness of market discipline, or self-regulation. Shadow Banking System: Risky financial activities once confined to regulated banks (use of leverage, borrowing short-term to lend long, etc. ) migrated outside the explicit government safety net provided by deposit insurance and safety and soundness regulation. Mortgage lending, in particular, moved out of banks into unregulated institutions. This unsupervised risk-taking amounted to a financial house of cards. Non-Bank Runs: As institutions outside the banking system built up financial positions built on borrowing short and lending long, they became vulnerable to liquidity risk in the form of non-bank runs. That is, they could fail if markets lost confidence and refused to extend or roll over short-term credit, as happened to Bear Stearns and others. Government-Mandated Subprime Lending: Federal mandates to help low-income borrowers (e. g. , the Community Reinvestment Act (CRA) and Fannie Mae and Freddie Mac’s affordable housing goals) forced banks to engage in imprudent mortgage lending. Excessive Leverage: In the post-2000 period of low interest rates and abundant capital, fixed income yields were low. To compensate, many investors used borrowed funds to boost the return on their capital. Excessive leverage magnified the impact of the housing downturn, and deleveraging caused the interbank credit market to tighten. Financial Crisis & U. S economy In 2008, the United States experienced a major financial crisis which led to the most serious recession since the Second World War. Both the financial crisis and the downturn in the U. S. economy spread to many foreign nations, resulting in a global economic crisis. On September 15, 2008, Lehman Brothers, one of the largest investment banks in the world, failed. Over the next few months, the US stock market plummeted, liquidity dried up, successful companies laid off employees by the thousands, and for the first time there was no longer any doubt a recession was upon the American people. Eleven months after the fall of Lehman Brothers, the U. S. remains in a state of limbo. Proposals for stimulus packages and other bailout plans have provided some relief, but it seems the most effective remedy thus far has been time. The facts are that approximately 6% of all mortgage loans in United States are in default. Historically, defaults were less than one-third of that, i. e. , from 0. 25% to 2%. A huge portion of the increased mortgage loan defaults are what are referred to as ‘sub-prime’ loans. Most of the sub-prime loans have been made to borrowers with poor credit ratings, no down payment on the home financed, and/or no verification of income or assets (Alt-A’s). Close to 25% of sub-prime and Alt-A’s loans are in default. These loans increased dramatically as a 9/30/99 New York Times article explained, â€Å"In a move that could help increase homeownership rates among minorities and low income consumers, the Fannie Mae Corp. is easing the credit requirements on loans that it will purchase from banks and other lenders. † To allow Fannie Mae to make more loans, President Clinton also reduced Fannie Mae’s reserve requirement to 2. 5%. That means it could purchase and/or guarantee $97. 50 in mortgages for every $2. 50 it had in equity to cover possible bad debts. If more than 2. % of the loans go bad, the taxpayers (us) have to pay for them. That is what this bailout is all about. It is not the government paying the banks for the bad loans, it is us!! Principally Senate Democrats demanded that Fannie Mae & Freddie Mac (FM&FM) buy more of these risky loans to help the poor. Since the mortgages purchased and guaranteed by FM&FM are backed by the U. S. government, the loans were re-sold primarily to investment banks which in turn bundled most of them, taking a hefty fee, and sold the mortgages to investors all over the world as virtually risk free. As long as the Federal Reserve (another government created agency) kept interest rates artificially low, monthly mortgage payments were low and housing prices went up. Many home owners got home equity loans to pay their first mortgages and credit card debt. Unfortunately home prices peaked in the winter of 2005-06 and the house of cards started to crumble. People could no longer increase their mortgage debt to pay previous debts. Now, we taxpayers are being told we have to bail out the banks and everyone in the world who bought these highly risky loans. The politicians in Congress (mostly Democrats) do not want you to know they caused the mess. In the 2006 elections, the Democrats took control of the House and Senate. There are plenty of videos on the Internet showing many Democrats including Senate Banking Committee Chairman Democrat Christopher Dodd and House Banking Committee Chairman Barney Frank, responsible with overseeing FM&FM, assuring us that there were no problems with FM&FM right up to their collapse. Not surprisingly, virtually all the investment banks that are in trouble and being bailed out are run by financial supporters of Obama and other Democrats. Secretary of the Treasury Paulsen was head of Goldman Sachs. The new head of the $700 million bailout is also from Goldman Sachs. This is like letting the fox be in charge of hen house security. It was announced that our government will infuse capital into the troubled banks. This gives whoever is in power of our government the ability to force the same kind of abuses that have caused this massive banking crisis in the first place. Barack Obama has received more campaign donations that any other politician in the past three years from Fannie Mae and Wall Street. FM&FC have been virtually private piggy banks of campaign contributions for Democrats for the past 10 years. Yes, a token amount went to some Republicans. And there is plenty of blame to go around in this financial crisis, but the reason it happened was 100% caused by a Democrat run government that forced a liberal policy initiated by President Clinton and reforms primarily blocked by Democrats. One would never know this by watching the news or reading newspapers. Until the majority of our citizens understand whom (government liberals) and what (liberalism/socialism) caused this mess, we will allow our elected officials, through massive inflation, to lower the standard of living of those of us who are financially prudent and give our earnings to those who are not prudent. The big excuse for the bailout is that credit markets have frozen up. But it is not true. There is plenty of credit available for good credit risks. The only way this can be rectified is to allow the people who made the mistakes to take their losses. It is called taking personal responsibility for one’s actions. Already we see that the bailout has had virtually no effect on the markets other than to cause huge sell offs because smart investors see that the U. S. is adopting failed liberal socialist policies. Our government is following in the footsteps of Hoover and Roosevelt. We do not need to have another depression, but the government is taking the steps to make it happen. The taxpayer financed bailout should be reversed immediately as it will only encourage more irresponsible fraudulent behavior. Impacts of Financial Crisis on Global Economy For the developing world, the rise in food prices as well as the knock-on effects from the financial instability and uncertainty in industrialized nations is having a compounding effect. High fuel costs, soaring commodity prices together with fears of global recession are worrying many developing country analysts. Asia & Financial crisis Countries in Asia are increasingly worried about what is happening in the West. A number of nations urged the US to provide meaningful assurances and bailout packages for the US economy, as that would have a knock-on effect of reassuring foreign investors and helping ease concerns in other parts of the world. India and China are the among the world’s fastest growing nations and after Japan, are the largest economies in Asia. From 2007 to 2008 India’s economy grew by a whopping 9%. Much of it is fueled by its domestic market. However, even that has not been enough to shield it from the effect of the global financial crisis, and it is expected that in data will show that by March 2009 that India’s growth will have slowed quickly to 7. 1%. Although this is a very impressive growth figure even in good times, the speed at which it has dropped—the sharp slowdown—is what is concerning. China similarly has also experienced a sharp slowdown and its growth is expected to slow down to 8% (still a good growth figure in normal conditions). However, China also has a growing crisis of unrest over job losses. Both have poured billions into recovery packages. China has also raised concerns about the world relying on mostly one foreign currency reserve, and called for the dollar to be replaced by a world reserve currency run by the IMF. Of course, the US has defended the dollar as a global currency reserve, which is to be expected given it is one of its main sources of global economic dominance. Whether a change like this would actually happen remains to be seen, but it is likely the US and its allies will be very resistant to the idea. Japan, which has suffered its own crisis in the 1990s also faces trouble now. While their banks seem more secure compared to their Western counterparts, it is very dependent on exports. Japan is so exposed that in January alone, Japan’s industrial production fell by 10%, the biggest monthly drop since their records began. Japan’s output for the first 3 months of 2009 plunged at its quickest pace since records began in 1955, mostly due to falling exports. A rise in industrial output in April was expected, but was positively more than initially estimated. However, with high unemployment and general lack of confidence, optimism for recovery has been dampened. In recent years, there has been more interest in Africa from Asian countries such as China. As the financial crisis is hitting the Western nations the hardest, Africa may yet enjoy increased trade for a while. These earlier hopes for Africa, above, may be short lived, unfortunately. In May 2009, the International Monetary Fund (IMF) warned that Africa’s economic growth will plummet because of the world economic downturn, predicting growth in sub-Saharan Africa will slow to 1. 5% in 2009, below the rate of population growth (revising downward a March 2009 prediction of 3. 25% growth due to the slump in commodity prices and the credit squeeze). Some African countries have already started to cut their health and HIV budgets due to the economic crisis. Their health budgets and resources have been constrained for many years already, so this crisis makes a bad situation worse. Due to its proximity to the US and its close relationship via the NAFTA and other agreements, Mexico is expected to have one of the lowest growth rates for the region next year at 1. 9%, compared to a downgraded forecast of 3% for the rest of the region. Europe & Financial crisis In Europe, a number of major financial institutions failed. Others needed rescuing. In Iceland, where the economy was very dependent on the finance sector, economic problems have hit them hard. The banking system virtually collapsed and the government had to borrow from the IMF and other neighbors to try and rescue the economy. In the end, public dissatisfaction at the way the government was handling the crisis meant the Iceland government fell. The EU is also considering spending increases and tax cuts said to be worth â‚ ¬200bn over two years. The plan is supposed to help restore consumer and business confidence, shore up employment, getting the bank’s lending again, and promoting green technologies. Russia’s economy is contracting sharply with many more feared to slide into poverty. One of Russia’s key exports, oil, was a reason for a recent boom, but falling prices have had a big impact and investors are withdrawing from the country. Africa & Financial crisis Perhaps ironically, Africa’s generally weak integration with the rest of the global economy may mean that many African countries will not be affected from the crisis, at least not initially, as suggested by Reuters in September 2008. In recent years, there has been more interest in Africa from Asian countries such as China. As the financial crisis is hitting the Western nations the hardest, Africa may yet enjoy increased trade for a while. These earlier hopes for Africa, above, may be short lived, unfortunately. In May 2009, the International Monetary Fund (IMF) warned that Africa’s economic growth will plummet because of the world economic downturn, predicting growth in sub-Saharan Africa will slow to 1. 5% in 2009, below the rate of population growth (revising downward a March 2009 prediction of 3. 25% growth due to the slump in commodity prices and the credit squeeze) African countries could face increasing pressure for debt repayment, however. As the crisis gets deeper and the international institutions and western banks that have lent money to Africa need to shore up their reserves more, one way could be to demand debt repayment. This could cause further cuts in social services such as health and education, which have already been reduced due to crises and policies from previous eras. The current crisis The housing bubble started to burst in 2006, and the decline accelerated in 2007 and 2008. Housing prices stopped increasing in 2006, started to decrease in 2007, and have fallen about 25 percent from the peak so far. The decline in prices meant that homeowners could no longer refinance when their mortgage rates were reset, which caused delinquencies and defaults of mortgages to increase sharply, especially among subprime borrowers. From the first quarter of 2006 to the third quarter of 2008, the percentage of mortgages in foreclosure tripled, from 1 percent to 3 percent, and the percentage of mortgages in foreclosure or at least thirty days delinquent more than doubled, from 4. 5 percent to 10 percent. These foreclosure and delinquency rates are the highest since the Great Depression; the previous peak for the delinquency rate was 6. 8 percent in 1984 and 2002. And the worst is yet to come. The American dream of owning your own home is turning into an American nightmare for millions of families. Early estimates of the total number of foreclosures that will result from this crisis in the years to come ranged from 3 million to 8 million. So far (as of January 2009), there have already been almost 3 million mortgage foreclosures. Another 1 million mortgages are ninety days delinquent and another 2 million were thirty days delinquent. Therefore, a total of about 6 million mortgages either have already been foreclosed, are in foreclosure, or are close to foreclosure. Six million mortgages are about 12 percent of all the mortgages in the United States. The situation could get a lot worse in the months ahead, due to the worsening recession and lost jobs and income, unless the government adopts stronger policies to reduce foreclosures. Defaults and foreclosures on mortgages mean losses for lenders. Estimates of losses on mortgages keep increasing, and many are now predicting losses of $1 trillion or more. In addition to losses on mortgages, there will also be losses on other types of loans, due to the weakness of the economy, in the months ahead: consumer loans (credit cards, etc. ), commercial real estate, corporate junk bonds, and other types of loans (e. g. redit default swaps). Estimates of losses on these other types of loans range up to another trillion dollars. Therefore, total losses for the financial sector as a whole could be as high as $2 trillion. It is further estimated that banks will suffer about half of the total losses of the financial sector. The rest of the losses will be borne by non-bank financial institutions (hedge funds, pension funds, etc. ). Therefore, dividing the total losses for the financial sector as a whole in the previous paragraph by two, the losses for the banking sector could be as high as $1 trillion. Since the total bank capital in the U.  S. is approximately $1. 5 trillion, losses of this magnitude would wipe out two-thirds of the total capital in U. S. banks! * This would obviously be a severe blow, not just to the banks, but also to the U. S. economy as a whole. The blow to the rest of the economy would happen because the rest of the economy is dependent on banks for loans—businesses for investment loans, and households for mortgages and consumer loans. Bank losses result in a reduction in bank capital, which in turn requires a reduction in bank lending (a credit crunch), in order to maintain acceptable loan to capital ratios. Assuming a loan to capital ratio of 10:1 (this conservative assumption was made in a recent study by Goldman Sachs), every $100 billion loss and reduction of bank capital would normally result in a $1 trillion reduction in bank lending and corresponding reductions in business investment and consumer spending. According to this rule of thumb, even the low estimate of bank losses of $1 trillion would result in a reduction of bank lending of $10 trillion! This would be a severe blow to the economy and would cause a severe recession. Bank losses may be offset to some extent by â€Å"recapitalization,† i. e. by new capital being invested in banks from other sources. If bank capital can be at least partially restored, then the reduction in bank lending does not have to be so significant and traumatic. So far, banks have lost about $500 billion and have raised about $400 billion in new capital, most of it coming from â€Å"sovereign wealth funds† financed by the governments of Asian and Middle Eastern countries. So ironically, U. S. banks may be â€Å"saved† (in part) by increasing foreign ownership. U. S. bankers are now figuratively on their knees before these foreign investors offering discounted prices and pleading or help. It is also an important indication of the decline of U. S. economic hegemony as a result of this crisis. However, it is becoming more difficult for banks to raise new capital from foreign investors, because their prior investments have already suffered significant losses. In addition to the credit crunch, consumer spending will be further depressed in the months ahead due to the following factors: decreasing household wealth; the end of mortgage equity withdrawals and declining jobs and incomes. All in all, it is shaping up to be a very severe recession.