Personal Narrative My Life Choices - 895 Words

My Life Choices â€Å"Your life is a reflection of the choices you make. Even events you don’t control, reflect your choices in how you respond. If you want to improve your life, improve how you make choices. Try to mindfully make decisions which are inspired by open-mindedness, high integrity and long-term thinking.† Karen Salmansohn I was born in Pakistan and lived there until the age of 15. In 2001, my father and our whole family got the visa to come to the USA. Consequently, for the sake of all of us, he decided to move to the USA. We all moved to California in 2002. I have three brothers and one sister. My sister got married in Pakistan before we moved to California. In 2007, I married my husband and I went back to Pakistan for a few months. I had my son in 2009 and my daughter in 2012. I moved from California to New Jersey in 2013. My husband works as a store manager at Family Dollar. Sometimes he works 60 - 80 hours in a week. I stay at home to take care of my 2 kids. I could not imagine what I am intent to share. I am about to discuss a very intimate part of my life. It is an aspect I seldom share with others. By now I have played the role of wife to my husband and mother to my children. My journey began to a new me in 2009 when my older son was born. He looked like a normal newborn. I had many difficulti es in the coming months with him. I started to get a little scared when I looked at other children his age, he seemed to be very much behind in many areas. I tried toShow MoreRelatedComparsion of Voltaire and Gronniosaw ´s Philosophy Essay1492 Words   |  6 Pagesvery different. Candide is a philosophical satirical novel that ingeniously shakes the misinterpretation of doctrinal optimism. Whilst A Narrative of the Life of James Albert Ukawsaw Gronniosaw written by himself, (For the purpose of this essay, ‘A Narrative.’) is an autobiographical, and spiritual account of Gronniosaw’s Journey. This essay will look at the narrative techniques and the distinctive features of the language used in both extracts. (Voltaire, Gronniosaw, A230, Assessment Guide, 2013)Read MoreThe Narrative Theory / Paradigm1477 Words   |  6 PagesThe narrative theory/paradigm states that everything we do can be laid out as a story (Fisher, 1984). The main points of the theory/paradig m are the following: humans are essentially storytellers; decisions that humans make are based off of good reasons rather than proof; what we do and how we think is swayed by accounts of history, biography, culture and character; our rationality is determined by our sense of probability (the coherency of the narrative) and narrative fidelity (whether the storyRead MoreIllness Narrative Essay929 Words   |  4 PagesMy Illness Narrative Sharing and listening to the illness narratives in class is an experience that I do not think I could ever forget. Listening to people share their raw emotions and stories of struggle and illness was eye opening, My own illness narrative could be described as a quest narrative and more specifically an automythology. This is because as I stated in my presentation, I became a better person, adopted skills that helped me deal with my father’s illness, understood what it is likeRead MoreObesity : A Huge Problem1138 Words   |  5 Pagesand Contrast Essay Obesity has become a huge problem in the United States, and has affected almost everyone’s lives in some way. Obesity is not something people should take lightly, but many do. Obesity is very dangerous and can shorten a person’s life by years. Both David Zinczenko and Radley Balko agree that obesity is dangerous and has emerged as a huge problem. However, the two differ on why this problem has occurred and how it may be solved. Zinczenko believes that fast food restauraunts areRead MoreMy World View906 Words   |  4 PagesWithin each and every individual lies a set of beliefs that help set the foundation and fundamentals of his or her existence. These beliefs are uniquely crafted from ones own experience and personal choices, or established through an others personal influences or doctrine. No matter the scenario, these beliefs determine an individuals priorities, justify their actions, help determine what he or she is fond of and aids them in answering some of lifes challenging questions. Most importantly theseRead More I Hate Narrative Essays1154 Words   |  5 Pageshad stopped working because my brother got on the Internet and thus cut off my connection. That was the least of my problems working on this paper. I got it done, though. My life changed with one trip of a teacher to the chalkboard and one phrase, narrative essay. God, I hate narrative essays. My day was going well. I devoured a big breakfast, my brother, for once, got out of the shower quick, and no major assignment was pending. Life was very, very good. Then life began to fall into oblivionRead MoreWriters Have Tools For Their Craft1547 Words   |  7 Pagesidentifying the target audience, theme, language, and narrative structure. Each of these features are woven into the narrative with a specific purpose and are expected to work collectively to produce a story that not only expresses the tale but also makes a connection. This essay will strive to stress the importance of the writing techniques and styles shown through the target audience’s different roles, the language being used with the narrative, the narrative structure presentation, literary conventionsRead MoreProfessional Development Plan1601 Words   |  7 Pagesworth (McKellar, 1996). This paper outlines my top three professional goals, resources required for achieving these goals, and a resource const rained schedule. The strategic formulation of my goals, required resources and schedule coalesce to form my Professional Development Plan (PDP). The first goal is a short term goal required for financing the second goal which is my medium term goal. The final goal is a long term goal that is loosely coupled with my second goal. Goal 1: Develop and LaunchRead MoreCareer Analysis : Career Counseling1276 Words   |  6 Pagesindividuals life experiences, their personal and career goals and aspirations for the present and future will affect their choices regarding career development. There are differing opinions on which factors play the most important role in career development. For the purpose of this paper I will focus on Donald Super’s developmental theory, as well as his life-span, life-stage model, and integrate narrative career counseling that has proven effective in my own personal career choices. Narrative careerRead MorePsy/230 Personal Narrative Essay803 Words   |  4 PagesFinal Project Personal Narrative PSY/230 September 23, 2012 Rehema Underwood Final Project Personal Narrative I would have to say looing back over the last five years my life has developed in to exactly what I have always wanted it to be. After going through a nasty divorce about eight years ago I went on a path of self destruction. I started drinking heavily and using drugs and a way to numb the pain I was going through. Finally after doing a few things that I’m really not proud of I

Film Viewing Experience Online Vs. - 984 Words

aAria Hamzei CTVA 100 Lindy Leong Tuesday, December 8, 2015 Film Viewing Experience: Online Vs. in Cinema Changes are the most stable thing in this world. They touch everything and everyone. Comparable to water they can bring devastation and destruction of everything that seems to be solid as well as bring back to life and prosperity hopeless and forsaken deserts. Being influenced by technological, social and cultural development cinematography is not an exception from this rule. Thus, numerous times representatives of film industry have predicted the inevitable end of cinema. For instance, appearance of VHS has seriously and dramatically influenced cinema. However, like a true sea wolf it survived detrimental and savage storm.†¦show more content†¦First of all, in order to comprehend my thoughts about film experience one should briefly be acquainted with film summary of In the Heart of the Sea. This film is based on non-fiction book written by Nathaniel Philbrick which portrays causes and aftermath of shipwreck of whaling ship Essex in 1820. Inspired by this event Herman Melville decides to investigate more about that mythical sperm whale which broke not only ship but also lives of whaling ship crew. Thus, skillfully using sea scenery the story begins to unfold. It is obvious that in Life of Pi and In the Heart of the Sea main theme is man`s struggle with nature. With this in mind the first major and the most obvious difference in watching film in cinema is huge screen with powerful sound support which serves as film conveying tool and technique. The enormous sizes of cinema screen captures viewer`s eye totally, thus helping one to merge more deeply into the film. Also, sound support surrounds and plays with viewer`s senses. For example, when ship Essex swam in calm waters of the sea I could feel the atmosphere of peaceful sea voyage and on the contrary when they got into t he storm I was pushed into the wrath of the sea. I was not an observer of terrible sea disaster on the contrary I lived it through. Notably that my cinema neighbors felt the same mixture of feelings that indicates theirs as well as mine participation

The Research Proposal Policy Convergence Patterns and Output Volatili

Question: Write the research proposal which has been approved for which will: Explain the rationale for the research (i.e. why it is worth doing); State the aims and objectives of the research; Provide examples of relevant theories and concepts you intend to include in the literature review; Explain the methodology you intend to use in your research; Explain the specific research techniques which you intend to use (e.g. questionnaire, interviews, case study etc.). Give your reasons why you think that the chosen technique(s) is (are) appropriate for this project; Discuss what data will be collected (e.g. consider whether data is primary or secondary; qualitative or quantitative etc.); Explain how the data will be interpreted; Discuss whether the findings will have validity, reliability and generalisability Discuss any potential difficulties which might arise in relation to this research and explain how you might deal with these difficulties. Answer: Introduction According to Duca and Peltonen (2013), financial stability is defined as the ability to provide assistance and improve the economic activities, risk management and alleviate the risk factors. On an added notion the financial stability is a continuous process that changes continuously over time and is steady with the various combinations of the elements that constitute finance. A sufficiently stable political and social agreement is required in order to establish financial stability. The strong financial system is less vulnerable to the risks that a financial crisis will emerge when the economy is experiencing a several disturbances from the economic front. The economy will also be able to face the financial crisis efficiently with its flexibility if there arise any such situation (Rey 2015). In several cases, reforms are necessary, but the requirement of time for their implementation varies depending on the nature and the proper sequencing needs. The research proposal will solely focus on evaluating the financial stability issues in the emerging markets and developing economies. The proposal will also throw light on the five key factors of the financial stability that are necessary for the emerging markets and developing economies. Over the next sections, the entire plan for the proposed research is described. Rationale of the research Broad rationale of the research is to evaluate the financial stability of the emerging economies and developing economies. According to Claessens and Yurtoglu (2013), this is an alarming issue as the post crisis financial reform recognized only the crisis in the advanced economies therefore; the financial stability of the emerging market and developing economies is needed to be evaluated. The emerging markets are defined as the countries, which have industrialized recently, however, have not achieved the status of a first world country. These economies exhibit an outstanding rate of growth in its developing counterparts. Individual investors if want to invest in the emerging economies they can buy into the emerging markets or the global funds. Therefore, it is necessary to analyze the financial stability of the emerging markets, and thereby determine the ability of the economy to mitigate the financial risk. This will also help the researcher to determine the financial vulnerability of the economy as well. Nowadays, all the foreign investors are interested in investing their resources in the economies hat have not been saturated yet (Peltonen et al. 2012). Thus, the emerging economies and the developing economies with their substantial economic growth and prosperous future prospects are a very lucrative option in front of the investors for investment. Therefore, it is also essential to analyze the financial stability of the emerging markets and developing economies. The significance of the study is to determine the key concepts of the financial stability. It will also determine the effectiveness of the policies and measures required to establish and retain the financial stability. Aims of the research The researcher mainly aims at evaluating the financial stability of the emerging markets and developing economies. The World Economic Outlook and IMF have performed the classification of the countries; these countries differ from the others based on their size, productivity, level of development and the other factors that are the constituents of the financial system. Therefore, the researchers aim is to shed light on the financial stability of the country and evaluate its role in determining the situational impact of the emerging markets and developing economies in the financial world. Objectives of the research The objective of the research can be stated as follows, To determine the key issues, those are associated with the concept of financial stability. To determine the factors that give rise to the financial instability in emerging markets and developing economies To determine the characteristics of the perfect financial system To design strategies for promoting the perfect financial system in emerging markets and developing economies Research Questions Based on the research objectives, here is the list of research questions that the researcher will try to answer with the help of this study. What are the key factors that are associated with the concept of financial stability? What are the underlying factors that give rise to financial instability in emerging and developing countries? What are the characteristics of a robust financial system? How strategies can be designed, in order to promote a robust financial system in emerging and developing countries? Research Hypothesis: H1: The financial stability has significant impact on the emerging markets and developing economies substantially. H2: The financial stability has no significant impact on the emerging markets and developing economies substantially. Literature review Financial Stability According to Mirzaei et al. (2013), financial stability in the emerging markets and developing economies has become significant as these are becoming the most important engine for growth of the global economy and thereby has contributed significantly in stabilizing the global financial crisis. The five key stability issues that are concerned with the emerging economies and developing economies are selected on the basis of their materiality and importance (De Bock and Demyanets 2012). This has also been done keeping in mind the implication of these issues in the regulatory, supervisory and other financial sectors. The first and foremost issue that is associated with the emerging economies and developing economies (EMDE) is the implementation of the international financial standards. According to Burger et al. (2012), most of the emerging markets and developing economies have enhanced and strengthened their banking sector along with the securities regulation qualities and the insurance sector over the past few years and thereby making them eligible to stand the adverse effects of global financial crisis. The main challenges that the emerging markets and developing economies face are the constrained supervisory capacity, incompetent legal framework and the ability of the economies to meet the requirement of supervising the activity of the conglomerates. Moreover, the continuous process of adoption of the international standard is also a challenge that the EMDEs face. Burger et al. (2012) pointed out that, there are countries in which the foreign banks play an important role in the economy. There is a deep-rooted conflict of interest between the home and the host country, there may be lack of supervisory activities on the cooperation and sharing of information and the complicate assessment of risk and this lack may arise only because of the jurisdictional boundaries. In accordance with the problem, some of the emerging economies and developing countries along with some advanced economies may require intervention of the foreign banks as subsidiaries and sometimes imply certain precautionary measures to protect the interest of the stakeholders. Again, Kumbirai and Webb (2013) stated that the small scale non-bank lending and depository institutions in the EMDEs play a significantly important role. Therefore, with the expansion of this sector, it is becoming more complicated and interrelated with the rest of the financial system. This extensive increase in the growth rate, accompanied by the worsening of asset quality may potentially put an adverse effect on the financial stability of the emerging markets and developing economies. Aizenman and Ito (2012) pointed out that there is another factor is also associated with the financial stability of the emerging markets and developing economies that is the instability of the nominal exchange rates. This when associated with the sizeable capital flows will give rise to substantial risk associated with foreign exchange. These risks can be seen prominently in the emerging markets and developing economies, as these economies possess a potentially small domestic financial market and significant conversion of the currencies into dollar. The capital markets according to ÄŒihk et al. (2012), in the emerging markets and developing economies are basically superficial and are expected to react drastically when faced with sudden movement in the price level. Therefore, there is a need to develop the domestic investor base and necessary measures to address the issues related with the market liquidity. Sources of instability The macroeconomic instability affecting the emerging market economies along with the mature industrialized economies are subject to serious issues in the financial segment. The first and foremost source of financial instability is the Macroeconomic Instability in the economy (Minoiu and Reyes 2013). This means that when there is high variability in the rate of inflation and prevalence of the high inflation rate accompanied by unsustainable fiscal positioning is the main and basic source of the financial instability that are faced by the banks and the other financial institutions. However, the financial institutions have the capability to hedge against the volatility of their own portfolio, the risk can hedged in aggregate. When the economy possesses non-neutral tax systems or incompetent market then an incidence of inflation will make the economy more vulnerable. However, Aizenman et al. (2013) argued that the financial institutions and the banks are efficient enough to adapt the inflation rather a high rate of inflation as well in order to keep up their profitability. For example, banks can survive a high rate of inflation by indexing the lending rates and shifting into the assets whose prices have resulted the inflation such as foreign exchange. Liberalization is on the other hand provides certain advantages, such as increases the opportunities to facilitate the adverse effects of real shocks. As well as it also induces competition and efficiency in the financial sector of the economy (Butler 2012). Therefore, the financial liberalization more precisely the capital account liberalization plays a substantially important role in stabilizing the economy financially. During the transition period, the financial liberalization can help the economy to mitigate the financial instability by raising the credit exposure and the risk associated with foreign exchange. The fiscal policy can affect the financial system directly by affecting the macroeconomic stability of the economy. That is the fiscal sustainability and the capability of the fiscal policy to react flexibly in response to the macroeconomic shocks. The choice of the fiscal policy also affects the fiscal stability of an economy as tax treatment on the part of the financial institutions is involved over there (Lane 2013). A lack of reliable legal infrastructure and prevalence of imperfect information may result in the development of incompetent financial markets. If these markets were not present in the economy, the banks would have faced with a narrow range of opportunities to invest in. The financing sources will then make them more sensitive to the financial shocks. Characteristics of a perfect financial system The determination of the features of a perfect financial system depends on the three basic factors. These factors are providing and retaining the perfect financial incentives for the financial actors, creation of the appropriate information dependent on the financial actors and finally equipping the institutions or the individuals with necessary capabilities so that they can respond effectively and efficiently to the market incentives and also use the information efficiently. As stated by Islam et al. (2013) the use of appropriate incentives is necessary to ensure that the managers, investors, creditors and owners while tracking down their own interests, will pay attention in the social effects of their actions and will take necessary precautionary steps in order to mitigate the risk. If this is needed to be, the case the private investors should try to reap off the entire benefit of the financial gains and bear the cost completely and the associate risk as well which are associated with their financial decisions. The markets should also be efficient so that they can exercise the appropriate policy measures in accordance with their requirements. Therefore, as pointed out by Asongu (2014) the stakeholders should also be allotted with the power so that they can reward or penalize the investors for their success or failures. Financial decisions in order to be effective, it is necessary to have perfect access to reliable and relevant information and that too in proper time. This will help to establish efficient discipline in the market, perfect corporate governance and effective addressing of the supervisory misunderstandings. According to Bonin et al. (2014) the individuals or the institutions should also possess the capabilities to take and implement the exact financial decisions. To do so, the individuals or the investors should possess the capability to res[pond effectively to the incentives and information. Therefore, there is a dire need of reliability so that the transactions can be carried out in an effective and efficient manner as well as on the scheduled time. Design of strategies for promoting perfect financial system In order to establish financial stability the emerging markets and developing economies should further design certain strategies. This may include the enhancement of the independence of the supervisory activities, resources and the capacity of the economy as well (Cecchetti and Kharroubi 2012). The resource and capacity of the economy can be strengthened by adjusting the potential frameworks so that they become able to depict the growth rate and the financial risk that may arise from the non-bank financial lending and depository organizations. If the management of the foreign exchange risk is strengthened, a broader investor base will be created domestically. This will in turn help the economy to accrue precautionary measures in both domestic and international level and ensure liquidity in the capital market. According to Beck et al. (2013), the international community should inform the emerging markets and developing economies about the appropriate speed and consistency of the adaptation of the Basel II/III framework in the emerging market and developing economies. Particularly the member countries of the G20, with more integrated financial system has adapted this strategy, the timeframe for the application of this strategy is another important factor that should be kept in mind. In the case of the large international banks the home supervisors should provide host supervisors, this is important as these banks play a significantly essential in the home jurisdiction. The supervision can be provided by conveying the important information about the parent bank to the host with the help of management groups (Grifoni and Messy 2012). Moreover, According to Cecchetti and Kharroubi (2012) development of an international harmony between the basic elements of the robust financial system is necessary with the help of the Group of Ten and of emerging markets and developing economies. The market channels and the market disciplines should be utilized in a proper way in order to provide incentives for sound supervisory systems. There should be substantial promotional activities undertaken by the international institutions like IMF, World Bank and the other regional banks. The promotional activity will purely focus on the incentives that may arise out of implementation of the proper principles and practices (Grifoni and Messy 2012). Implementing the following strategies or designing new strategies in accordance with the requirement will help the emerging market and developing economies to establish and retain financial stability. Therefore, the evaluation of the financial stability of the emerging markets and developing economies depicts that these economies play a vital role in the rate of growth of the global economy. Moreover, the strategies generated and recommended are well efficient to cope up with the current problems as faced by the companies. Conceptual framework Figure: Conceptual Framework (Source: Created by Researcher) Research Design and Methodology Type of Investigation The researcher here will use the descriptive type of investigation method. As the research objectives and questions are clear, therefore in accordance to the convenience of the research as the research questions were designed well before the beginning of the research it is convenient to use the descriptive method of research. If the descriptive type of investigation is appropriate for this type of research activities and thereby it can handle the problem of the research in accordance with different perspectives such as why, when and what (Hesse-Biber, 2012). Research Philosophy There are mainly two types of research philosophies namely, interpretivism and positivism (Gummerson, 2012. The positivism philosophy of research is generally concerned about addressing the research related problems in accordance with the real facts that are available after being identified and observed at an earlier stage. This research philosophy is one of the most effective an deficient tool for performing the analysis of the data available in order to ensure that the research problems are addressed effective with the help of the real facts and original evidences. In the case of this particular study the philosophy of interpretivism is followed, because the evaluation of the financial stability in the emerging markets and developing economies is based on a particular situation or certain perception of the people about the facts. Research Approach: According to Crouch and Pearce (2012), the deductive approach of the research can be characterized by constructing a hypothesis depending on the preexisting theories and thereby determining the research strategy in order to verify the hypothesis. The deductive approach of the research can be explained with the help of the research hypothesis that is constructed with the help of the propositions of the theory. The deductive approach can also be defined as the approach that is focused on deducing the results with the help of the propositions (Crowther and Lancaster, 2012). Another research approach is the inductive research approach, the main difference between the inductive and deductive research approach is that, the deductive approach is concerned with testing the theories and the inductive theory is concerned with developing new theories. The researcher here will choose the inductive approach of research so as to get the benefits of designing new concepts and theories. According to Creswell (2012), with the help of the inductive research approach, the researcher will be able to collect data from different sources and this will help to enhance the knowledge of the researcher about the topic. Accessibility Issues According to Dul and Hak (2012), the topic is the financial stability of developing economics is an important area of research. Therefore, the secondary research on this topic would have to include sufficient secondary data for completing the assignment with an in-depth data analysis. However, during the collection of data, there would be some accessibility issues related to the data collection. As the financial stability is a key research topic, the recent research data would not be accessible from the online sites without payment (Bernard 2012). On other hand, the topic is new and the data source is limited. For collecting more data on this topic would need more time, but the time is limited. Ethical Considerations According to Bernard (2012), the research should be done following the ethical considerations in the national rules for enhancing the rate of success of the research. In this context, the Data collection Act 1998 would be followed. All the data collected would be from authenticated sources (Denzin and Lincoln, 2012). All the sources would be verified through valid tools for eliminating any kind of ethical issues from the research outcomes. No one will be affected physically or emotionally during the research. The data that will be used in this research would be ethically and legally accessible. The data analysis will be done in authentic process for gaining expected outcomes. All the data used in the data would be cited in an ethical ways (Bergh and Ketchen 2012). The process of data collection and analysis will be transparent enough to be understood by all. Data collection method The research is a secondary study; therefore the data collection method would be secondary through the use of secondary resources. The secondary data are the data those are the results of other authors research and these are used in the research for analyzing the primary data and enhancing the efficiency of the research. The secondary data for this research would be collected from the updated and valid secondary resources including books, journals, newspaper articles and authentic websites (Bergh and Ketchen 2012). The government websites would be preferred for ensuring the authenticity of the research. Data Analysis Plan The research is a secondary research, therefore, the data analysis method will be used that would support the secondary research. The thematic analysis will be used in this research, as it is done by the comparison and analysis of the data collected from the secondary resources with the pre-existing theories through the establishment of different themes (Bergh and Ketchen 2012). It will help to form a systematic structure of the analysis process based on which the analysis will be done and according to the results found specific recommendation would be made. Research Limitation After assuring the presence of appropriate resources for the research in a systematic framework, the work will be started but there would be some limitations related to the research. The major research limitation would be the time constrain and amount of data. Time is a limited, therefore, it is a major constrain for gathering huge amount of data for the research. On the other hand, due to the accessibility of secondary data, sufficient amount of data would not be collected, more data might enhance the efficiency of the research. Proposed Structure of the Dissertation: The researcher will follow a specific and consistent structure while conducting the study regarding the dissertation. The researcher has provided the proposed structure for the dissertation below, Figure 2: Dissertation Structure (Source: Created by Researcher) Time Frame (Refer to Appendix-I) The researcher will try to complete the entire research work within a stipulated time frame. As the researcher is faced with a limitation of time, therefore the researcher plans to finish the work within approximately seven weeks. The researcher will also take care of the fact that all the tasks are performed effectively and efficiently and are allocated with proper amount of time required to perform them. The time plan is provided in the appendix, where the researcher have stated the requirement of time for each specific tasks. Reference List Aizenman, J. and Ito, H., 2012. Trilemma policy convergence patterns and output volatility. The North American Journal of Economics and Finance, 23(3), pp.269-285. Aizenman, J., Chinn, M.D. and Ito, H., 2013. The impossible trinity hypothesis in an era of global imbalances: measurement and testing. Review of International Economics, 21(3), pp.447-458. Asongu, S., 2014. Financial development dynamic thresholds of financial globalization: evidence from Africa. Journal of Economic Studies, 41(2), pp.166-195. Beck, T., De Jonghe, O. and Schepens, G., 2013. Bank competition and stability: cross-country heterogeneity. Journal of financial Intermediation, 22(2), pp.218-244. Bergh, D. and Ketchen, D. J. 2012 Research methodology in Strategy and Management, 1st ed. Bingley: Emerald Group Publishing Ltd Bernard, H. R. 2012 Research Methods in Anthropology: Qualitative and Quantitative Approaches. 5th ed. Plymouth: Alta Mira Press. Bonin, J., Hasan, I. and Wachtel, P., 2014. Banking in transition countries. Burger, J.D., Warnock, F.E. and Warnock, V.C., 2012. Emerging local currency bond markets. Financial Analysts Journal, 68(4), pp.73-93. Butler, K.C., 2012. Multinational finance: evaluating opportunities, costs, and risks of operations (Vol. 729). John Wiley Sons. Cecchetti, S.G. and Kharroubi, E., 2012. Reassessing the impact of finance on growth. ÄŒihk, M., Demirg-Kunt, A., Feyen, E. and Levine, R., 2012. Benchmarking financial systems around the world. World Bank Policy Research Working Paper, (6175). Claessens, S. and Yurtoglu, B.B., 2013. Corporate governance in emerging markets: A survey. Emerging markets review, 15, pp.1-33. Creswell, J. W. 2012. Research design: Qualitative, quantitative, and mixed methods Crouch, C. and Pearce, J. 2012 Doing Research in Design - Page 68, 2nd ed. London: Bloomsbury Publishing Plc. Crowther, D. and Lancaster, G. 2012 Research Methods, 2nd ed. London: Routledge. De Bock, R. and Demyanets, M.A., 2012. Bank asset quality in emerging markets: Determinants and spillovers (No. 12-71). International Monetary Fund. Denzin, N. K. and Lincoln, Y. S. 2012 The SAGE Handbook of Qualitative Research. Page 271, 4th ed. London: Sage Publications. Duca, M.L. and Peltonen, T.A., 2013. Assessing systemic risks and predicting systemic events. Journal of Banking Finance, 37(7), pp.2183-2195. Dul, J. and Hak, T. (2012) Case Study Methodology in Business Research, 3rd ed. Oxford: Elsevier Grifoni, A. and Messy, F.A., 2012. Current status of national strategies for financial education: A comparative analysis and relevant practices. OECD Working Papers on Finance, Insurance and Private Pensions, (16), p.1. Gummerson, E. 2012 Qualitative methods in management research, 5th ed. Thousand Oaks, Calif.: Sage Hesse-Biber, S. N (2010) Mixed Methods Research: Merging Theory With Practice, 3ed ed. New York: Guilford Publications Islam, F., Shahbaz, M., Ahmed, A.U. and Alam, M.M., 2013. Financial development and energy consumption nexus in Malaysia: a multivariate time series analysis. Economic Modelling, 30, pp.435-441. Kumbirai, M. and Webb, R., 2013. A financial ratio analysis of commercial bank performance in South Africa. African Review of Economics and Finance, 2(1), pp.30-53. Lane, P.R., 2013. Financial globalisation and the crisis. Open Economies Review, 24(3), pp.555-580. Minoiu, C. and Reyes, J.A., 2013. A network analysis of global banking: 19782010. Journal of Financial Stability, 9(2), pp.168-184. Mirzaei, A., Moore, T. and Liu, G., 2013. Does market structure matter on banks profitability and stability? Emerging vs. advanced economies. Journal of Banking Finance, 37(8), pp.2920-2937. Peltonen, T.A., Sousa, R.M. and Vansteenkiste, I.S., 2012. Wealth effects in emerging market economies. International Review of Economics Finance, 24, pp.155-166. Rey, H., 2015. Dilemma not trilemma: the global financial cycle and monetary policy independence (No. w21162). National Bureau of Economic Research.

Phenomenal Phoenix free essay sample

I stare at the blank page in front of me, trying to make sense of the jigsaw before my eyes. I glance at the clock. Great. Midnight. As I begin to doubt my abilities to successfully translate 30 lines of the Aeneid, my eyes wander to my dry erase board, filled with pictures of family and friends, reminders for upcoming tests and tennis tournaments, and crinkled sheet music for my upcoming orchestra concert. A 46 postcard clustered with quick messy writing catches my attention. I had received this small piece of paper in the mail the second week of my freshman year. An award bestowed upon the few that not only captured a teacher’s attention but also for one who stands out from the rest of the herd, the Phenomenal Phoenix, given to me by none other than my Latin teacher. Only just the second week of school and already I received an honor so rare only few knew about. We will write a custom essay sample on Phenomenal Phoenix or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Next to the card were 3 glossy purple ribbons and immediately the memories begun to flood my mind of the event that changed my life, which had only taken place not even a year ago. Sitting with my fellow members of our 6-years-in-a-row first place Latin Club, the intense nerves overtook me. Huddled arm in arm, there we sat, anxiously listening for our names to be announced in the award ceremony at the Texas State Junior Classical League Convention. Never before had I won an award at any state convention I’ve attended, a surprise to many because I have been an officer every year and so involved with the club and its countless activities. Yet, unlike all the other officers, I could never pull in the 1st place awards. I never thought that I could ever one day be like them. Tired of always coming in 5th place at the area convention, I set a goal at the beginning of my junior year that I would become a 1st place winner and for once feel like an asset to the club’s continuing glory. To do so, I knew I had to switch out of the category I studied in my first two years, Mottoes. While I did love studying and learning the various Latin mottoes of universit ies and countries, after two years of coming in 5th place, I knew that it just wasn’t the right category for me. With the new goal at the start of the year, I made the decision to switch into a new category, Dramatic Interpretation. Instead of studying all year to compete in a 60 minute test, I was now going to spend my year memorizing a passage in Latin and perform it for judges. After months of practicing and perfecting my fourteen lines of Latin, giving appropriate gestures and modifying my tone of voice for each word to clearly convey the meaning, the moment had come. The moment that would soon prove that all my hard work truly had paid off. My nerves at this point were agonizing as the announcer read aloud the winners of my category. The results for both third and second place had come too slow as my heart was practically throbbing out of my chest as the anticipation for the name of the first place winner grew nearer until a lapsus linguae (slip of the tongue) occurred. He accidently let out a â€Å"K..† and at that moment I along with my entire club jumped in joy at my amazing accomplishment. To be honest I never even heard my name, just the first syllable, but that was all that I needed to hear to run down to the stage and accept my shiny purple ribbon that I worked so hard for. Later on in the award ceremony, I came to win TWO MORE first places , one in scrapbook and the other in state T-shirt design. Once thinking I could never live up to the accomplishments of the officers I had shared office with my first two years in the club, I then realized I had done something never done by any of them before. I won not only one, not two, but three first place awards. The award ceremony concluded as it always does with the results of the sweepstakes awards for the Latin clubs as a whole. I never knew the feeling of not winning first place as a club because we’ve won it six years in a row. That tradition continued as yet again we received first place in the state of Texas. Each year, we’re more and more surprised that we receive it because each year the competition trails behind us with a fewer point margin. Riding home on the bus with my club, I found out that we had won by only 29 points. I then did the math in my head. A first place contributes 10 points to the club score. Because I won three first places, I contributed a total of 30 points. From once never receiving any awards to ending up being the difference in keeping a legacy of now seven years alive, I knew that with determination and hard work I could overcome any obstacle put in my way. Paying closer attention to my teacher’s words on my index card, I came to the realization that ever since my second week of high school he had seen the potential in me that I had yet to see. While Latin has certainly not been the easiest class I’ve taken my past four years in high school, it has not only taught me the most, but changed me the most. So as I began to doubt my ability to translate my 30 lines of the Aeneid for homework, I remember my ribbons and how I received them, and dove headfirst deep into the Latin.

Hamlets Hamartia Essays - Characters In Hamlet, Hamartia

Hamlet's Hamartia Hamlet's Hamartia Hamlet is the most written about tragedy in the history of man. But, why is it a tragedy? Is it because Hamlet has a tragic flaw that creates his downfall? Or is it that all the cards are stacked against him since the beginning of the play and there is no way he can prevail? I believe that it is a tragedy because of Hamlet's tragic flaw. Hamlet's tragic flaw is that he cannot act on impulse for things that require quick, decisive behavior, and that he acts on impulse for things that require more contemplation than is given by him. Hamlet speaks of his father's tragic flaw that ultimately led him to his death, but it applies equally well to himself: So, oft it chances in particular men, That for some vicious mole of nature in them, As, in their birth, wherein they are not guilty (Since nature cannot choose his origin), By the oergrowth of some complexion, Oft breaking down the pales and forts of reason, Or by some habit that too much oer-leavens The form of plausive manners--that these men, Carrying, I say, the stamp of one defect, Being natures livery, or fortunes star, Their virtues else, be they as pure as grace, As infinite as man may undergo, Shall in the general censure take corruption From that particular fault. The dram of evil Doth all the noble substance of a doubt To his own scandal. (1.4.23-38) Hamlet speaks of the one defect that is in particular men from birth, and the fact that that one defect is his particular fault. Hamlet says that this fault will corrupt the man. It seems to be an excuse from Shakespeare for why Hamlet will not act on impulse. As though he is giving the audience a hint that Hamlet has a tragic flaw. Shakespeare writes As, in their birth, wherein they are not guilty / (since nature cannot choose his origin) (1.4.26). Hamlet gives reason of his own flaw here. Although he is talking about his father having a tragic flaw, he states particular men (1.4.23), he is not denying that his character does not have a tragic flaw. Hamlet is making an excuse for any possible flaws that might arise in the play. Shakespeare shows us that Hamlet retains his the ability to think lucidly and in depth with his monologue (3.1.56-89). Anytime that Hamlet has to act on something, such as in the church when he has the opportunity to kill Claudius while he was praying, He stops to think before he acts. There is no clear evidence of wrong doing until Claudius confesses his sins to God, his nephew, and the theater at large (Scott-Hopkins 1). The thinking eventually leads him to doubt, which leads him to inaction. He takes the time to reason and reasons himself out of acting. Hamlet speaks of his inability to take action, his tragic flaw: Thus conscience does make cowards of us all; And thus the native hue of resolution Is sicklied o'er with the pale cast of thought, And enterprises of great pitch and moment With this regard their currents turn awry And lose the name of action. (3.1.83-88) Hamlet knows of his own flaw and knows how it has affected his relationship with Ophelia also. Another example of when Hamlet cannot act on impulse is in act 3,2 when he puts on the play to try to show proof to the rest of the court that Claudius murdered his father. He could not act on the ghost's words alone. It would have been easier if Hamlet did not alert Claudius to the fact that he knows who murdered his father. Hamlet acts without rational thought in a couple of scenes throughout the play. In Act 1, 4 Hamlet threatens Horatio and Marcellus to let him go so he can follow the ghost. He does not have a rational thought about it. He simply follows the ghost even with Horatio trying to talk him out of it. Another example to support Hamlet's irrational acts is when he is in the Queen's chambers in Act 3, 4 when he stabs Polonius through the arras, without knowledge of who it is. As soon as he hears someone speak, What, ho! help! (3.4.22), Hamlet, with little thought, draws his sword and

M Butterfly Essays - M. Butterfly, Free Essays, Term Papers

M Butterfly Essays - M. Butterfly, Free Essays, Term Papers M Butterfly RIUve played out the events of my life night after night, always searching for a new ending to my story, one where I will leave this cell and return forever to my ButterflyUs arms.S (Hwang 3.3.1-4) With these words of David Henry HwangUs play M Butterfly, we realize that we have just been staring directly into the memories of Rene Gallimard. The fact that Rene Gallimard serves as the narrator of his memories in the play M Butterfly delivers an impression of the character behind Gallimard than could ever be achieved by the viewing of the screenplay. The existence of Marc in the play as seen from GallimardUs perspective, the fact that Gallimard serves as the main organizer of ideas in the play, and the differing roles of Helga in the two works all lead to very different impressions and interpretations by the reader or viewer. GallimardUs narration seems to be the most obvious difference between the movie and the play. While reading the play, the audience has an opportunity to get to know the personality of Rene Gallimard, as well as his feelings about certain topics. Such insight can be very crucial in the impression that a character makes on an audience. GallimardUs persona is very evident in the opening lines of the play. He remarks initially about the dimensions of the cell, the atmosphere, and the living conditions. Immediately, this paints a picture for the reader that is very accurate physically, and the reader sees that Gallimard is straightforward, and says what he means without very much preamble. As the opening scenes develop, we also see the side of Gallimard that is the dreamer. Rene definitely has visions of perfection, and they are demonstrated when he remarks RAlone in this cell, I sit night after night, watching our story play through my head, always searching for a new ending, one which redeems my honor , where she returns at last to my arms.S (1.3.7-11) Gallimard can be classified as a dreamer, and not only because he is confined to a prison cell for many years. He has a vision of how life is supposed to be, and feels rewarded when he conforms to a stereotype. For example, he says RI knew this little flower was waiting for me to call, and, as I wickedly refused to do so, I felt the first time that rush of power the absolute power of a man.S (1.11. 8-10) Being Ra manS is important to Gallimard, and following the so called RWestern FantasyS of having an affair with an Eastern woman is tantalizing to him. Glimpses like these give the reader incredible insight into the mind of Gallimard, which are very useful to explain later actions in the story. A narrator builds a friendship with the reader, a person that the audience can trust. We see the events from GallimardUs side of things, which are much more distorted in the play than the events that occur in the movie. The removal of the narrator in the movie leaves the viewer to develop GallimardUs personality for themselves, rather than get to know how he thinks. This puts the viewer at an overall disadvantage for understanding the true meaning behind M Butterfly. Another significant part of the play that is omitted from the movie is GallimardUs best friend from school, Marc. Marc is described as a Rwomanizing cadS (1.3. 81) by Gallimard, giving the reader an obvious first impression. He is developed as a character that is there for Gallimard in times of need, and serves as someone that Gallimard can go to in times of need. A friend like this does not exist in the movie, and the viewer gets the sense that Gallimard is very quick in decision making and has little doubt about his actions. In the play, however, we know that this is not the case. There are several cases where Marc talks to Gallimard in his head, and reasoning for decisions is explained. For example, Marc says RAll your life youUve waited for a beautiful girl who would lay down for you.....As the years pass, your hair thins and you struggle to hold onto even your hopes. Stop

Manual - Google Street (Google map 3D) Coursework

Manual - Google Street (Google map 3D) - Coursework Example In essence, the 3D maps provide the user with the ability to see the buildings, street details and roads that make up a particular area. It acts as the basis to ensuring that users can efficiently navigate from one point to another. This is to aid them in travelling through most of densely populated cities (Peterson 32). It is vital to note that there is a significant set of well-designed functions contained in the Google 3D maps. These crucial functional features act as the building to ascertaining that there is efficient delivery of the targeted services to users. These functions include the global positioning system module, which allows users to experience real-time definition of different areas contained in a map. In each of the displayed 3D map, a user is provided with the function of changing between list views, street view. Another one is the search function where a user is allows searching for a particular company, street or any other geographical feature. The Google 3D map also provides users with a get direction function. This helps users to get access to the right path towards a particular destination. There is also a zoom function for users to zoom a location in or out. Lastly but certainly not the least, this feature contains a function, which allows users to save a favorite map towards a particular destination. This is important in that users can simply open a saved map and get the right directions to a preferred destination (Peterson

Anxiety disorders Essay Example | Topics and Well Written Essays - 2000 words

Anxiety disorders - Essay Example Unlike the relatively mild, brief anxiety caused by a stressful event such as a business presentation or a first date, anxiety disorders are chronic, relentless and can grow progressively worse if not treated." (Anxiety Disorders section, para.1) One should immediately see a doctor if he or she is suffering acutely from any of the following symptoms. Panic disorder: According NIMH's website, " people with panic disorder have feelings of terror that strike suddenly and repeatedly with no warning. They can't predict when an attack will occur, and many develop intense anxiety between episodes, worrying when and where the next one will strike." (Anxiety Disorders section, para. 10) One can experience panic attack any time, sometimes even during sleep. There is no specific duration of the attack. Sometimes it may last for more than half an hour, sometimes it may be of 10 minutes and sometimes even lesser. It may happen that a person experiences a panic attack only once in his lifetime. But if panic attacks are frequent then it is advisable to see a mental health care practitioner. As stated in the website of NIMH, "panic disorder is one of the most treatable of the anxiety disorders, responding in most cases to medications or carefully targeted psychotherapy."(Anxiety Disorders section, para. 18) A person can get panic attack anywhere. For example, if a person experiences a panic attack while he is swimming, he may experience a terrible fear of drowning. The long-term effect on his personality would be that he might completely avoid going near a swimming pool, sea, river or pond and in extreme cases even his bathtub. Panic disorder causes acute depression and people suffering from it even turn alcoholic or drug addict to fight their depression. Agoraphobia: According to Dr. Sanjay Chugh, " The ancient term 'agoraphobia' is translated from Greek as 'fear of an open marketplace'. Agoraphobia today describes severe and pervasive anxiety about being in situations from which escape might be difficult or avoidance of situations such as being alone outside one's home, traveling in a car, bus or airplane, or being in a crowded area." (Mind/psychology/phobia/anxiety. asp section, para.10) Therefore people suffering from agoraphobia start getting panic attacks the moment they are away from their homes or people they trust and get help from. The more the distance from their home and dear ones, the more is the intensity of their restlessness and fear. Hence, "severely agoraphobic people avoid going out altogether

Principles of Microeconomics Research Paper Example | Topics and Well Written Essays - 250 words

Principles of Microeconomics - Research Paper Example In economics, entrepreneurs play a key role in bridging the gap between capital and labour. Entrepreneurs also take on significant risks in order to generate profit. Many people do not think of universities and colleges as businesses, but, in fact, they are large and complex businesses in a microeconomic sense. Many private colleges charge two to four times the tuition of state colleges, and then award aid based on merit to coerce desired students to attend, resulting in a final price that varies by student and that favors students in certain categories over others (Friedrich 1). Because the services that a college provides to student are the same even though some students pay a drastically steeper price to attend, this can be considered an example of price discrimination on a microeconomic scale. In cases of price discrimination, different prices are charged to customers in order to generate some specific results. In the case of many private universities, price discrimination is intended to increase competition and encourage acceptance of the best quality students. Whether this form of price discrimination is ethical is a subject that has been largely debated as the cost of college education has risen steadily over the last decades. Friedrich, Alex. â€Å"Notes in the Margins: Med school, loans and price discrimination.† MPR News. 14 June 2011: 1.

Aristotle And Concept Of Happiness Philosophy Essay

Aristotle And Concept Of Happiness Philosophy Essay In this paper, I wish to explore the concept of happiness as well as Aristotles take on it. I think for most of us, we rarely stop and think about what happiness is even though we cannot deny its inevitable existence. It is one of my major points that everyone has a different definition of what happiness is or what happiness means to them, and that definition changes along with time, when ones personal believes or opinions or convictions change as he progresses through life, they change because of a myriad of reasons, no social scientists can pin down exactly what they are but those changes are nevertheless very real and a direct correspondence of the direct interaction between the person and his or her environment. Aristotle proposes that the single idea of good must establish these three claims: Idea of Good Claim 1) We have ends which we choose for themselves. Idea of Good Claim 2) That there is only one such end. Idea of Good Claim 3) That end is happiness. He argues for Idea of Good Claim 1) as follows (Irwin 173): 1.1. If we choose everything because of something else, desire will be empty and futile. 1.2. We have a gut feeling that some desires are not empty and futile. 1.3. Therefore, we do not choose everything because of something else. 1.4. Therefore we choose something for its own sake. 1.5. What we choose for its own sake, therefore, must be the best good. The debatable premise is 2. As this is not conflicting with my own gut feelings, we will allow Aristotle postulate this claim. Postulate 1: We have a gut feeling that some desires are not empty and futile. Granting him this postulate, we allow his conclusion 5. that there are some things we choose for their own sake. This satisfies Idea of Good Claim 1). Aristotles criteria for the Idea of Good are self-sufficiency and completeness. Regarding these criteria he says, not all ends are complete. But the best good is apparently something complete. And so, if only one end is complete, the good we are looking for will be this end; if more ends than one are complete, it will be the most complete of these ends. (Irwin 7) Aristotle has not given good reason why there must be only one end from which all actions are a means, rather than several such ends. At this point I will not contend with Aristotle if he can posit this singularity and avoid contradiction further into his theory. Postulate 2: There is only one Idea of Good. Aristotle explores and finds happiness to be the best fit for these criteria of the Idea of Good. We must pause for a moment to clarify the translation of eudaimonia, translated to happiness in the text. In Greek, eudaimonia translates to living well or doing well, Happiness is the complete end [ones] complete happiness depends on himself, and not on external conditions. (Irwin 333) Regarding happiness as the single Idea of Good Aristotle says, Now happiness, more than anything else, seems complete without qualification. For we always choose it because of itself, never because of something else. à ¢Ã¢â€š ¬Ã‚ ¦The same conclusion also appears to follow from self-sufficiency. For the complete good seems to be self-sufficientà ¢Ã¢â€š ¬Ã‚ ¦ We hold an end to be self sufficient when all by itself it makes a life choiceworthy and lacking nothing; and that is what we think happiness does. (Irwin 8) Aristotle makes a good argument here for why happiness is the Idea of Good because he appea ls to ones intuition. My own intuition does not conflict with Aristotles proposition that eudaimonia is the most complete and self-sufficient end, to which other human objectives are means to. Aristotle has satisfied Idea of Good in Claim 3) if we allow him to postulate the first two claims. Aristotle has solidified his claim that eudaimonia is the Idea of the Good by satisfying the three claims. With this information, we progress to investigate which of the three types of lives reaches eudaimonia the best. Aristotle claims that the life of activity and reason achieves this goal best, and denies two alternatives: the life of gratification and the life of ambition. Aristotle argues that happiness is not a state or possession, but rather an activity that we engage in. Aristotle proposes that someone who is asleep for their entire life could not be eudaimonia. This is consistent with the definition given earlier of eudaimonia. Just as the function of a harpist is to play the harp, and the function of the physician is to care for the body, the function of the human being according to Aristotle is to remain active and employ reason in ones life. Aristotle contemplates the human function saying, we take the human function to be a certain kind of life, and take this life to be activity and actions of the soul that involve reason. (Irwin 9) He denies that the human function is bodily pleasure because those qualities are shared with animals. Aristotle claims our purpose must be a life of active contemplation, saying, The remaining possibility, then, is some sort of life of action of the part of the soul that has reasonà ¢Ã¢â€š ¬Ã‚ ¦ we take the human function to be a certain kind of life, and take this life to be activity and actions of the soul that involve reason. (Irwin 9) Aristotles argument for activity holds for our own time, people who remain active appear to be happier than those who can no longer be, such as the elderly. However, activity involving reason may be too narrow of a definition. One viable alternative is productivity in whatever respect one is capable of. Aristotle is confining his alternatives of what constitutes a good life to his own talents, rather than allowing people with other dispositions to also live eudaimonia. The life of gratification focuses on sensory pleasures as the means to happiness. Aristotle denies that pleasure is necessarily a good, and pain is necessarily an evil. He separates goods into two types, conditional and unconditional. He argues that pleasure is conditionally good for us because we have the pain corresponding to it. For example, hunger is a pain that is satisfied by eating food. Aristotle argues that bodily pleasures are only good under the condition that the corresponding pain is present. Any further pursuit of bodily pleasures to Aristotle is a pursuit of the excess and such pleasure is no longer a good. Reciprocally, the existence of pain in small amounts can be enjoyable as well as it gives us an occasion to satisfy it. Thus, those who live for bodily pleasure, the life of gratification, are not pursuing the most complete good but rather pursue an excess of bodily sensation. Aristotle admits that we all enjoy and are just in enjoying a degree of sensory gratificat ion, but he renders base those who overindulge. The ambitious life is one focused on attaining honor and acknowledgement from others. Aristotle denies this as a viable means to attain eudaimonia because it focuses on the opinions of others. Eudaimonia is a state which should not be so fickle and easily lost as public opinion, and thus Aristotle discards this option, saying, This, however, appears too superficial to be [eudaimonia]; for it seems to depend more on those who honor than on the one honored, whereas we intuitively believe that the good is something of our own and hard to take from us. Further, it would seem, they pursue honor to convince themselves they are good. (Irwin 4) This is a convincing denial of pursuing a life of ambition. I accept an assumption Aristotle makes that living well is not constituted by the opinions of others, but rather by the virtue of oneself. So far we have accepted Aristotles premise that activity is needed to reach eudaimonia, but we have questioned the necessity for study. We have accepted Aristotles denial of the two alternative lives, as they focus on either overindulgence or public opinion. Due to space constraints we will not discuss the possibility of other lives, though there are plenty worthy of mention. One means that Aristotle proposes to remain active is having loving friendships. Aristotle offers loving friendships with good people as the most complete friendship, saying, complete friendship is the friendship of good people similar in virtue; for they wish goods in the same way to each other insofar as they are good, and they are good in their own rightThese kinds of friendships are likely to be rare, since such people are few. (Irwin 122-123) Complete friendships cannot be based on utility or erotic pleasure, but rather love. Aristotle says, Those who are friends for utility dissolve the friendship as soon as the advantage is removed; for they were never friends of each other, but of what was expedient for them. (Irwin 123) Aristotle proposes that a life of friendship facilitates activity, because we are social creatures by nature. A life involving study and contemplation, for example, serves as a medium to foster a respect and exchange of ideas, which is inherent in a loving friendship. In addition, we can expand Aristotles conclusions to apply to other means of remaining active, such as a life of military service, the life of a physician, or the life of an artist. In addition, friends help regulate our behavior in making virtuous decisions, as virtue is also a vital component of reaching eudaimonia. Aristotle says, no one would choose to live without friends even if he had all other goods. Indeed rich people and holders of powerful positions need friends, how else would one benefit from such prosperity if one had no opportunity for beneficenceà ¢Ã¢â€š ¬Ã‚ ¦ But in poverty also and in other misfortunes, people think friends are the only refugeà ¢Ã¢â€š ¬Ã‚ ¦The young need friends to keep them from error. The old need friends to care for them and support the actions that fail because of weakness. (Irwin 119) Aristotle is correct in finding that activity is a vital element in achieving eudaimonia, and that friendship plays an important role in helping us remain active and virtuous. We can apply a broader application of this search for happiness by allowing lives other than that of study and contemplation to be pursued, as long as virtue and loving friendships are present. To arrive at this conclusion we postulated two of Aristotles premises (see Postulate 1 and Postulate 2); allowing these lead us to a worthwhile map of how one may reach eudaimonia, the Idea of Good which follows from the postulates. Overlaying a life of productivity for Aristotles requirement of study, we have achieved a valid argument, assuming the postulates, for a means of human flourishing. One should live ones life with virtue, activity, and productivity.

Dracula :: essays research papers

Dracula, by Bram Stoker, is a classic tale of Gothicism. Traditionally, gothic tales only carried single theme of horror. Through Dracula, Stoker breaks this single theme barrier. The theme throughout Dracula is clearly displayed through the characters as they step from ignorance to realization in this tale of horror.   Ã‚  Ã‚  Ã‚  Ã‚  The theme of ignorance is vital for this story. It is woven throughout and evident in all the characters. It is first displayed through the protagonist, John Harker. It is his innate lack of knowing that puts him in a deadly situation: “Do you know that to-night, when the clock strikes midnight, all the evil in the world will have full sway? Do you know where you are going, and what you are doing?'; (5) This was the protagonist, Jonathan Harker’s second encounter with strangers, in a strange land, in which he was confronted in this manner. He had three such encounters, all of which he nonchalantly dismissed. During his first encounter, the people simply refused to answer any of his questions. In his third encounter, strangers made the sign of a cross and pointed at him. During all of this, Jonathan had no clue why these people were acting in this strange way, nor did he have a notion to question why. Even though he is oblivious to the reasons for their behavior, he blindly continues on the path the strangers warned him not to go on. Another depiction of this ignorance is shown through Dr. Seward and Dr. Van Helsing as they work on a patient, Lucy Westerna. After the doctors diagnosed Lucy as being “somewhat'; bloodless and the pricks on neck were discovered, they immediately dismissed the idea of the pricks being the cause of this loss of blood. “It at once occurred to me that this wound, or whatever it was might be the means for this manifest loss of blood; but I abandoned the idea as soon as formed, for such a thing could not be.'; (131) These doctors had knowledge, but their own ignorance interfered even though all the signs of what was going on were clear.   Ã‚  Ã‚  Ã‚  Ã‚  It is when Stoker allows his characters to step to realization that the story heightens. Jonathan is only enlightened to realization after his ignorance has completely thrust him into a life threatening situation: “I started for it amazed me that I had not seen him, since the reflection of the glass covered the whole of the room behind me.

Castlebridge

December 01, 2010 Case Study Analysis # 70 Castlebridge, a maker of high-quality outerwear, located in London is at a cross roads. Although its headquarters operates from London, most of its manufacturing has moved offshore. With the last domestic factory slated to close, the firm's executives struggle to preserve the â€Å"Britishness† of the brand. On the other hand, the company has to reduce costs to remain profitable. It seems that moving production offshore is inevitable. The executives believe that Castlebridge should come clean about it.In a world where stakeholders matter more than ever, the firm can't just outperform competitors. It has to go above and beyond to satisfy their constituents. Therefore, the CEO Mary Crane asserts that the plant closure is a logical step. Reputational risk is a concern as well as brand image. The majority of the customers who purchase Castlebridge items are wealthy. They pride themselves in wearing high class British fashions. The company fears that Asian manufacturing tags will diminish consumer confidence in quality and authenticity. The CEO wants to take the logical approach where the objective of any firm is to maximize profits.By not doing so, the firm will lose out to the competitors and will continue to face rising production costs in keeping up with consumer preferences. She holds Fergus Harold accountable for being overly nationalistic and even rather ignorant to the status of British clothing made in Malaysia and its effect on a Japanese consumer. Her unabashed perception indicates that backlash would be from local purchasers whose confidence may be undermined by the outsourcing of a classy British brand to a third world country. Furthermore, it is well pointed out that the CEO does not feel threatened by British media.Supposedly she sees that production line workers are of the lower working class whereas buyers of Castlebridge's products of are of the wealthier class. Castlebridge simply cannot survive in their high cost market by maintaining its production lines within the UK. Labor cost is just too expensive. Trade unions have become cleverer with their protests and could potentially be a thorn in their side. The company needs to make a decision soon. The British public has been down this road before, as have foreign consumers of British products. I agree with the CEO that cost cutting measures need to be implemented.There is no need to maintain high production costs and place burden upon the shareholders of the company. If the British public has been down this path before then there should be no problem. If the firm shines light on its native roots and its international production, it could establish a winning reputation as a truly modern, global brand. However, the customers’ sentiment is very important. The brand image is highly regarded and maintaining the class, quality and authenticity is just as important as running the risk of a complete closure and a shutdown of bu siness.Could Castlebridge hire foreign employees to work in the U. K? Could wages be scaled down to keep in line with profit margins? Maybe these alternatives should be considered. Otherwise, the real risk to the brand could be the potential loss of its high-class distinction and not its national identity. Before making a firm decision, all alternatives should be considered. As a member of the Board of Directors, Ferguson should have the conscientiousness to advise the company to rediscover and recommit to the core values that have made them so successful.Should the CEO go through with moving its production facilities offshore, he could recommend a trust-building people strategy, modeled by the CEO, which emphasizes forthright communication from management to the employees as well as the opinions of its customers. In doing so, the company will be compliant with its corporate culture and stakeholders. The last thing Castlebridge needs is to have its employees and customers reject the principles of this outerwear line. With that being said, the company can continue to enjoy the success it has had.

Malaysia †Country book

Malaysia – Country book Free Online Research Papers Executive Summary The purpose of this report is to critically analyze an export strategy for an International company to Malaysia. Im going to assume that the International Company is located in a neighbor country (Australia), â€Å"Kangaroo International† an Australian soy product producer. It was chosen for this task, because of Malaysias increasing demand for westernized but healthy products. Table of Contents 1. Introduction 2. Overview of Product 3. Country Study- Malaysia 3.1 Malaysias environment 3.1.1 Geography 3.1.2 Demographics 3.1.3 Implications of Malaysias national culture 3.1.4 Infrastructure 3.1.5 Technology 3.2 Political/legal forces 3.2.1 Political forces 3.2.2 Legal forces 3.3 Economic and financial environment 3.3.1 Economic overview 3.3.2 Economic performance 3.3.3 Financial performance 3.4 Competitive environment 3.4.1 Intensity of competition 3.4.2 Bargaining power of consumers 3.4.3 Threat of substitute products 3.4.4 Threats of new entrants 4. Marketing Strategy 4.1 Market Based Planning 4.2 Competitive Advantage 4.3 Positioning strategies 5. Market Entry Strategy 6. Marketing Mix 6.1 Product 6.2 Pricing strategies 6.3 Promotion 6.3.1 Contextual Factors affecting promotional campaign 6.3.2 Promotional strategies for Kangaroo International in Malaysia 6.4 Distribution 7. Conclusion 8. References Appendix A- Hofstedes Cultural Dimensions Appendix B -Summary of Cultural Differences Appendix C -SWOT Analysis Appendix D Contextual Factors explained 1. Introduction The purpose of this report is to outline the strategies necessary for Kangaroo International to successfully export Soy Cheese to the Malaysian market. To achieve this, a thorough analysis of the Malaysian business environment was conducted, identifying the key variables that need to taken into account when modifying the product to suit the Malaysian market. This involved researching the external environmental factors, as well as the Malaysian culture and the specific needs and wants of the target consumers. This provided the foundation for the strategic marketing plan and objectives. This involved creating a marketing mix and market entry strategies that most effectively suited the Malaysian market, while at the same time ensuring the success and profitability of Kangaroo International. 2. Overview of Firm and Product Kangaroo International is an Australian Soy Food manufacturer. Established in 1987 and is based in Brisbane, Queensland. Most products are certified Halal and Kosher and all of them contain Australian grown organic, non-GM soybeans as the main ingredient. Of Kangaroo Internationals vast range of products, Organic Soy Cream Cheese and Soy Cheese were selected for this assignment. 3. Country Study- Malaysia 3.1 Malaysias environment No matter where a company operates, external forces have an indirect impact on the organization. The key influencing factors have therefore to be analyzed before entering a new market. This country study intends to give an overview of Malaysia. Table 1 is summarizing the main facts. Table 1 Column1 Malaysia Land area 330,434 sq. Km Population 24 million (2004 estimate) Capital Kuala Lumpur Type of government Federated parliamentary democracy with constitutional monarch Head of State Syed Sirajuddin Syed Putra Jamalulai Prime Minister Datuk Seri Abdullah Ahmad Badawi Next election By March 2009 Currency used Ringgit (RM Source: Institute of Southeast Asian Studies, 2005 . 3.1.1 Geography Malaysia is located just north of the equator, with a hot climate (up to 34C) and humid conditions between 2 to 4 metres of rain annually (Austrade, 2006). The country is easily accessed by air and sea offering many avenues for distribution of the product throughout the country. 3.1.2 Demographics Malaysia has a population of 23.37 million according to the 2000 census, with a growth rate of 1.8 percent. The major ethnic group of Malaysia are the Malays and indigenous people (65.1 percent), this group is predominantly of Muslim religion. The other ethnic groups include the Chinese (26 percent) and Indians (7.7 percent) (Austrade, 2006.). Malaysia has five major religions; these include Muslim, by far the most prevalent at 52%, Buddhism (17%), Taoism (8%), Christian (8%) and Hinduism at 8% (Austrade, 2006). The main language spoken is Bahasa Melayu; however English is also widely spoken and accepted in business practices. 3.1.3 Implications of Malaysias national culture An exact definition of culture is difficult to attain, however there are two main characteristics, which have developed over time, one it is learned and secondly it is shared. Culture influences all facets of society, including what behaviors are acceptable and unacceptable within a society. Fletcher (1979) defines culture as the total way of life within a society. Understanding culture is therefore critical to the success of an international organization. The role of marketing to satisfy the needs and wants of potential customers is highly dependant on the way culture conditions these needs and wants, as well as its influence on how marketing messages are received and interpreted. Culture influences all elements of the marketing mix. One of the most comprehensive studies of the differences between cultures was performed by Hofstede, in which he developed five main dimensions of culture. These included power distance, uncertainty avoidance, individualism verse collectivism, masculine verse feminine and long-term or short-term orientation. Using Hofstedes dimensions, It can be noticed that Malaysia has a very high score in the power distance index, meaning that Malaysian society accepts inequality and secondly in can be noticed that Malaysia is strongly collectivist, defined as placing more emphasis on the welfare of the group and collective achievement. For more information refer to Appendix A As Malaysia has a complex mixture of non-homogonous ethnic groups and religions, it is critical to determine the target market, in which the product has the greatest competitive advantage as well as potential profitability. As shown in the demographics of Malaysia, the major religion is Muslim at 52%. This has major implications for international firms in Malaysia, as Islamic beliefs have a significant influence on all aspects of a persons life. The two major aspects marketers have to address in the processed food industry include the requirement of food to be Halal, permitted by Islamic law (Austrade, 2006) and the need for the promotional campaign to be sensitive to religious beliefs. For further information on Malaysias culture refer to Appendix B. 3.1.4 Infrastructure Infrastructure is critical in determining the suitability of expanding a business into a foreign country. Infrastructure refers to all the services and facilities that are vital to the efficient functioning of the economy; these include energy supplies, transport, and communications as well as commercial and financial services. Malaysia has one of the most developed infrastructures in the newly industrialized countries of Asia. The area of communication is pivotal in fostering effective communication with the target market, Malaysia has a made significant gains in this area with 10.9 million people having radios (1999), 10.8 million people owning televisions (1999) as well as 5.7 million people who have access to the internet (2002) and 5 million people owning mobile phones (Malaysian Profile, 2006). This provides the marketer with many types of media in which to reach the target market. Malaysia also offers sufficient transportation facilities, such as highways, railways, 114 airpor ts and efficient seaports in which 95% of Malaysias total trade is conducted via the seven international ports (Malaysian Industrial Development Authority, 2006). Malaysias infrastructure offers businesses an environment suitable for the successful implementation of international expansion. 3.1.5 Technology Technology is still the most dramatic force transforming the international environment. As science parks all over the world develop, Malaysia takes a leading position with the nations Kulim Hi-Tech Park which is designed for high technology and RD companies who want to operate in the Asian-Pacific region (Kulim Technology Park Corporation in Yeoh, 2002). The Kuala Lumpur Stock Exchange (KLSE) offers not only the most advanced technologies, but also a very good infrastructure. In combination with well trained human recourses the KLSE will be consistently efficient, modern and cost-effective (Hashim in Yeoh, 2002). TV, radio, phone lines, internet, although of technical nature are key aspects of infrastructure, as a result technology cannot be separated from infrastructure in modern business. From Malaysias overview of infrastructure it can be taken that Malaysias government is conscious of the importance of well developed infrastructure. But Malaysia is also aware that technology alon e is not the key to success, it is only an enabler. Therefore, next to the very well developed and applied technologies, much emphasis is set on the human resource development (Moggie in Yeaoh, 2002). 3.2 Political/legal forces 3.2.1 Political forces The political environment in Malaysia provides a stable and safe country in which to operate a business internationally. Malaysia is a parliamentary democracy in which Abdullah Badawi is the Prime Minister, who took over from Mahathir Mohammad after 22 years in office on the 21st of March (Austrade, 2006). The next general election is scheduled for 2009. 3.2.2 Legal forces There are a number of tariffs, regulations and requirements businesses must conform to in order operate in Malaysia. The government is progressively liberalizing its tariff regime, however, some products that are in competition with locally manufactured products are still highly protected. In the processed food sector imported foodstuffs are subject to inspection and need to comply with labeling laws introduced in March 2004 (Austrade, 2006). Australia and Malaysia currently have a diverse bilateral agreement, however in April 2005 it was decided to move onto to free trade negotiations, this has wide reaching ramifications when exporting to Malaysia and will have to followed closely in order manage the dramatic influences this may have on the business environment (Austrade, 2006). 3.3 Economic and financial environment 3.3.1 Economic overview Malaysia is rich in natural resources and has developed therefore already as a British colony to a worldwide producer of rubber and tin. Although the colonial rule of the British let to a good legal system and an efficient administration, some of the economical drawbacks were that Malaysias products were not differentiated enough and they depended on North America and Europe. The immense exports caused a workforce-demand increase which led to a large Chinese and Indian immigration. 1957 Malaysia changed from a British colony to independency (Austin, 2004). In 1967 Malaysia formed with Thailand, Indonesia, Singapore and the Philippines the Association of Southeast Asian Nations (ASEAN) . Although the foundation was originally political, ASEAN now plays a significant role in the present world economy. Economically ASEAN targets a common market, including a free trade area. Even though Australia is geographically very close, it had not been an important export market. Australian imports consist mainly of food products (Tan, 2003). Today Malaysia is a high middle-income export orientated economy and one of the worlds largest producers of electronic and electrical products (Austrade, 2006). 3.3.2 Economic performance For years Malaysia was an ideal developing country. The climate for investors had been very stable with an average annual growth rate of almost 9 percent and basically full employment (Tan, 2003). But the Asian crisis damaged this picture. The consequence was a deep cut into the GPN of 7,4 percent in 1998. The Malaysian government worked against this crisis with an expansive economic policy and was able to stabilize the economy relatively quickly (Tan, 2003). Ever since Malaysia has consistently maintained its position of 18th largest global exporter, with economic growth averaged at 5.5% in the four-year period between December 2001 and January 2006 (WTO report, December 2005). Also the consistently low levels of unemployment have been maintained while the living standards are good with a life expectancy of 72.5 years, and literacy rates of 89% (Malaysian Profile, 2006). Unfortunately the income distribution is fairly unequally and quite complicated because of three different major racial groups in Malaysia (Tan, 2003). 3.3.3 Financial performance The high annual growth rate in the nineties was connected to a very low inflation rate. Even the Asian crisis didnt increase the prices in an enormous way. The Malaysian government used a very uncommon way to get out of the crisis: Instead of using the help of the International Monetary Fund (IMF), it chose to limit its flows of capital dramatically which was not appreciated by most international investors. After the crisis was handled successfully, the limitations were loosened up again (Tan, 2003). The increased terrorism development in recent years has had significant impacts on Malaysias economical and financial performance. Especially declines of foreign investments. Also less tourism has caused a slower economical growth in the mid term (Tan, 2003). But Malaysia has still managed to increase the measurement of per capita income in the latest four year period, and has received a strong average growth of 8.9 percent. The total public debt although is relatively high, hovering around 69% of GDP, however is expected to drop to 46% of GDP by 2009 due to the implementation of fiscal consolidation strategies by the federal government (IMF report, Article IV 2005). 3.4 Competitive environment Next to the external environmental forces, the competition in which the company competes has to be considered. This is done from two perspectives: In macro- (overseas industrys competitive structure) and micro- point of view (firms) (Grigoriou, 2004). Kangaroo Internationals competitors are both domestic producers and distributors in Malaysia and international companies. 3.4.1 Intensity of competition The Australian Government clearly states the food and agribusiness as one of the key opportunity areas in Malaysia. More specifically organic food, health snacks, cream cheese, and soy pudding and yoghurt are mentioned as current opportunities. As a result, increased (international) competition can be expected in Malaysia (Austrade). Some large international companies (see Table 2) have been present since centuries and have been able to gain local knowledge and train their staff accordingly. Especially the large companies have very strong brands, are experienced and have next to large financial resources a very well developed distribution network (US Foreign Commercial Service, 2003). Table 2: Large Dairy, Soy or Health Food Companies in Malaysia Name Year Products Country of origin Cold storage 1968 Dairy and meat Malaysia Dutch Baby 1963 Milk Holland Nestleacute 1912 Milk, cereals, noodles Switzerland Yeo Hiap Seng 1900 Marketing sale of food, beverages dairy products Malaysia Contra Enterprises 1969 Dairy Malaysia FN Foods Dairy, soft drinks Malaysia Radiant Whole Food new Organic health food Switzerland Tong Garden Snacks Singapore Pikzern 90s Importing and distributing: Dairy, Confectionary, Beverages, Snacks, Sea foods, Vegetarian Food, Seasonal Products Malaysia Source: Adapted from: Kuala Lumpur Stock Exchange (1994) cited in Muthaly, Ratnatunga Schroder, 1999, p. 116); mycen.com.my/search/food_beverage.html Next to the large multinational and local firms, there are thousands of small, family oriented businesses (Muthaly, Ratnatunga Schroder, 1999). There is also a quite strong presence of Australian and New Zealand dairy product companies. The competition in the organic soy product section is not as tough yet, but all the mentioned factors together create fairly high entry barriers for new importers. 3.4.2 Bargaining power of consumers In general the disposable income of Malaysian customer is either fairly high or quite low (Austrade, 2006). But either way, they are very price sensitive and will definitely look for the best value (which doesnt necessarily have to be the cheapest). Therefore the bargaining power of the buyers is rather high, especially because this market is attractive and gives the consumer a wider choice and lower switching costs (Fletcher Brown, 2005). 3.4.3 Threat of substitute products On a micro level, competitors for Kangaroo International are not only producers of the same product, but also companies who offer substitutes such as dairy products, and health food or organic snacks. On the contrary wine, pizza dough, nachos, pasta, (in general Western style food), dips and crackers are seen as complementarities. Because health food in general is very popular in Malaysia, normal cheese has to be seen as a competitor, but it is believed that with an organic product, Kangaroo International has a good chance to penetrate a niche market. It has to be noted however that switching costs for consumers are fairly low if there is a choice of different organic products available. On a macro perspective competitors to the health food industry are producers with the same product which are not organically certified (normal cheese vs. organic cheese) and which are most often offered to a cheaper price. The food industry in general may see for example the leisure industry as a competitor as well as complementarities industry. They are an opponent if the industries have to compete over a limited budget in which the consumer will have to decide wherever the money will be spent on some more (healthy) snacks or if for example a visit to a botanical garden would be a better alternative. This is mainly because cheese is not an elementary food group. On the other hand the leisure industry can also be a driver, because a pick-nick trip to enjoy the nature may include some healthy food choices. 3.4.4 Threats of new entrants As mentioned in intensity of competition, the threat of new entrants is presently rather high because of the market opportunities. It is believed although that with the right niche-market a sufficient market share should be achievable. However, if the trend stays as it is, the market will, like the dairy market, eventually be saturated. 4. Marketing Strategy In order to develop a marketing strategy a SWOT-Analysis for Kangaroo International in Malaysia needs to be made. The SWOT-Analysis is a necessary tool to understand where the organization is positioned, what the competitive advantages are and where the improvements have to be undertaken. The Analysis for Kangaroo International and the objectives for the first export period can be found in Appendix C. 4.1 Market Based Planning Market based planning is an approach which starts with an analysis of consumer needs, in order to determine how modify the existing product to satisfy these needs (Fletcher Brown, 2005). This is the most appropriate approach for Kangaroo International, when adapting an existing domestic product to suit an international market, in this case Malaysia. The product will still be the same core product, however packaging and labeling will be modified in order to comply with Malaysian legislation and taste. 4.2 Competitive Advantage Kangaroo International will implement a basic competitive positioning strategy of differentiation. This involves concentrating on producing a highly differentiated product, supported by a marketing campaign that focuses on positioning the product as a class leader (Fletcher Brown, 2005). As Table 3 below shows, Kangaroo International will use segmentation to divide the market by geographic, psychographic and behavioral variables to create a significant competitive advantage (Kotler et al, 2004). Table 3 King Internationals Market Segmentation Step Geographic Segmentation Goal Market share 1st target on consumers in urban areas (large cities) large supermarkets Until product is well established AUS $0.3 million in first year 2nd target on consumers in urban areas smaller intermediaries Until product creates a good customer awareness AUS $3 million in first three years 3rd target on rural areas smaller intermediaries Market leader in organic soy cheese and soy cream cheese Psychographic segmentation Consumer who value healthy lifestyle Behavioral segmentation Benefits sought 4.3 Positioning strategies Product positioning is defined as; The way the product is defined by consumers on important attributes; the place the product occupies in the consumers minds relative to competing products (Kotler et al, 2004). To achieve product positioning in a favorable manner, Kangaroo International can implement a number of strategies. These are outlined below Product Positioning Strategies * They can position their products on specific product attributes * Products can be positioned on the needs they fill or on the benefits they offer * Products can be positioned according to usage occasions * Product is positioned for certain classes of users * Product can be positioned directly against a competitor * Product can be positioned for different product classes Kangaroo International will focus on two main strategies of both product attributes and the benefits offered. Firstly the product attributes to be reinforced will include that Kangaroo Soy Cheese is Australian made, particularly important in Asian cultures where it is perceived that higher levels of status are associated with Western products. Other critical product attributes are the non-GM, organic grown soy used, a critical attribute to the success in the Malaysian market. Secondly, it will be stressed that Kangaroo International Soy Products offer the major benefit of increased health. Research shows that soy can help lower cholesterol and reduce the risk of heart disease, osteoporosis, cancer and diabetic, kidney disease (Soyfood, 2003). These factors coupled with a focus on product quality will allow Kangaroo international to attain a favorable position in the consumers mind relative to competitors. 5. Market Entry Strategy Once a market has been identified as profitable, the mode of entry has to be chosen. Evaluation of market entry modes involves a trade off between degree of control and commitment of resources (Fletcher Brown, 2005). For Kangaroo International a direct exporting mode in a combination with strategic alliances has been chosen. The products will not be sold directly to the end user but distributed through supermarket chains. Without ever been active in Malaysia, Kangaroo International will definitely need local partners who have the know-how to run the daily business. Strategic alliances are non-equity contractual relationships (Fletcher Brown) and will be building with the Malaysian International Chamber of Commerce and Industry (MICCI), the Federation of Malaysian Manufacturers (FMM), and the supermarket chains. The MICCI is Malaysias oldest chamber of commerce. The FMM is Malaysias economic organization, representing over 2000 manufacturing and industrial service companies (FMM, 2006 ). Advantages and disadvantages of direct export and strategic alliances can be listed as follows:- Advantages of a direct export Minimizes risk and investment. Speed of entry Maximizes scale; uses existing facilities. Disadvantages of a direct export Trade barriers tariffs add to costs. Transport costs Limits access to local information Company viewed as an outsider Advantages of a Strategic Alliance Increased leverage Strategic alliances allow you to gain greater results from your company’s core strengths Risk sharing A strategic alliance with an international company will help to offset your market exposure and allow you to jointly exploit new opportunities. Opportunities for growth Strategic alliances can create the means by which small companies can grow. By â€Å"marrying† your company’s product to somebody else’s distribution, or your RD to a partner’s production skills, you may be able to expand your business overseas more quickly and more cheaply than by other means. Greater responsiveness By allowing you to focus on developing your core strengths, strategic alliances provide the ability to respond more quickly to change and opportunity. Disadvantages of a Strategic Alliance High commitment – time, money, people Difficulty of identifying a compatible partner Potential for conflict A small company risks being subsumed by a larger partner Strategic priorities change over time Payment difficulties Political risk in the country where the strategic alliance is based If the relationship breaks down, the cost/ownership of market information, market intelligence and jointly developed products can be an issue. It is also considered to hire a local consulting firm for the Malaysian marketing and promotion. The marketing wouldnt be outsourced because Kangaroo International has chosen with its direct export mode to keep as much control as possible. Williamsons transaction cost approach suggests that control is the most important determinant of risk and return and that high-control entry modes increase return and risk (Fletcher Brown). Williamsons theory is outlined below Williamsons transaction cost approach Chosen entry mode should provide control, based on the following functions: * Transaction specific assets including specialized physical or human investments such as proprietary processes or products at an early stage of the product life cycle. * External uncertainty reflecting unpredictability in the chosen overseas market due to economic and political factors. * Internal uncertainty related to difficulties in exercising control over the agent in the overseas market due to lack of experience, culture and linguistic knowledge and familiarity with business customs and practices. * Free riding potential, which refers to an agents ability to exploit the relationship for personal advantage such as by degrading the brand name or by taking on the line to neutralize its competitive impact. Source: Fletcher Brown In Kangaroo Internationals case the company possesses transaction specific assets, which are the production knowledge of the organic soy cheese, and the uncertainty about the new market is high. Therefore a high control mode seems to be the most appropriate entry mode. 6 Marketing Mix 6.1 Product Kangaroo Soy Cheese is a tangible, consumer-orientated product incorporating the companys cheese making core competencies. The product has been adapted to suit market requirements of Malaysia on the strategy of market based planning. This will include modifying products packaging and labeling to meet local labeling laws, which were modified in 2004. Most notably changes will be made to the label contents and language. Also some marketing research will be undertaken to analyze the taste of Malaysians in terms of product size and packaging style like colors etc. The packaging size of products in general is smaller in Malaysia (Nestl, 2006) mainly because like this it is cheaper to buy one unit, and the product can be consumed more quickly. 6.2 Pricing strategies Malaysian consumer behavior is continually changing, with increased urbanization and concentration of wealth in cities, coupled with a more westernized culture, consumers are more discreet in their spending and will shop around for cheaper alternatives (Austrade, 2006). This has many implications for Kangaroo International when determining a pricing strategy. These changes in consumer behavior have resulted in higher levels of price sensitivity, requiring greater levels of competitive advantage in order to attract sales. Kangaroo International is faced with an inverse demand curve in the Malaysian market, meaning as the price of the product increases the amount of the product demanded decreases. The channels of distribution have a dramatic impact on the price charged to the end user in an international market, as each intermediary adds their own mark-up (Fletcher Brown, 2005). As such Kangaroo International has taken care to employ only those intermediaries that are critical to distribution of Kangaroo Soy Cheese in an attempt to reduce international price escalation (Fletcher Brown, 2005). Kangaroo International will implement market differentiated pricing, in which pricing is determined by market conditions of Malaysia, in relation to affordability of the product, nature of competition and strategic objectives of the firm (Fletcher Brown, 2005). The pricing strategy adopted by Kangaroo international in Malaysia will be based on a combination of Cost-Plus pricing and Marketplace pricing. This entails adding a specified mark-up percentage to the total cost of the product, while at the same time considering what are considered competitive prices in the local market (Fletcher Brown, 2005). This mark-up can manipulated accordingly with changes in environmental variables such as level of competition and demand as well as internal factors such a business expansion and increased supply costs (Fletcher Brown, 2005). 6.3 Promotion 6.3.1 Contextual Factors affecting promotional campaign During the process of developing the promotional campaign for an international product it is critical to evaluate how it will be influenced by contextual factors. These include culture, language, education, economic development, media infrastructure and government regulation (Fletcher Brown, 2005). These environmental factors act as interference between the successful encoding and decoding of a marketing communications. The implications of these factors are explained in Appendix D. 6.3.2 Promotional strategies for Kangaroo International in Malaysia Kangaroo International will implement a promotional campaign that will predominantly focus on pull strategies, however push strategies will be utilized. A pull strategy targets the end user through a variety of advertising, publicity and public relations in order to stimulate demand (Fletcher Brown, 2005). This will be complemented by the main push strategy medium of sales promotion, in particular trade shows. The advertising strategy undertaken by Kangaroo International will target opinion leaders, in order to generate positive word of mouth amongst consumers. This strategy relies on the fact that word of mouth is generally the most important means of promoting a product, as it more respected and easier for the consumer to believe (Gremler, Gwinner Brown 2001). This is of particular importance when appealing to the collectivist culture of Malaysia, where loyalty and trust are of the upmost importance (Patterson, Smith, 2001). The advertising campaign of Kangaroo International will initially focus on the mediums of newspapers, magazines, internet and radio due to limited resources, however as the business becomes more profitable, higher cost mediums such as television will be implemented to further increase market share. Magazines offer a selective way of reaching the target market, in this case, important opinion leaders (Fletcher Brown, 2005). The magazines of focus are trendy lifestyle magazines, such as CLEO Malaysias fastest growing lifestyle magazine and health magazines such as Health and Fitness and Buletin CME, which is monthly. The newspapers selected to advertise through are chosen due to the higher levels of trust by consumers and because they cover local entertainment and culture. These titles are Barita Harian and Vanakkam Malaysia. Radio offers the advantage of low cost and high levels of reach (Fletcher Brown, 2005). Market research identified National FM as the most appropriate station f or Kangaroo International promotional campaign. In order to build consumer trust and brand awareness, Kangaroo International will use Public relations heavily. This will include sponsoring local health initiatives as well as important sporting events in Malaysia, to achieve strong associations between our product and a healthy, popular lifestyle. 6.4 Distribution Using direct exporting, Kangaroo International will deliver its products to Malaysian supermarket chains. The alliance with MICCI and FMM will help in this process. Malaysias retail sector is highly fragmented with many small to medium-sized markets. Of course the use of retailers (supermarkets) will lead to some loss of control. For example Kangaroo International will not be able to state exactly where the product will be placed on the shelve. The good experiences in Australia lead to the conclusion that this will still be the best way to bring the product to the consumer. A direct distribution would be too expensive. However, an internet based distribution may be considered in a later state. There are around 500 supermarkets and hypermarkets, approximately 120 convenience stores and a rather large amount of traditional food stores (900000 nationwide). Table 4 shows the percentage of sales that goes through these retail outlets. Table 4 Percentage of Sales in specific retail outlet Retail Sector Sales by Type of Business* (2000) Sales (%) Department stores, supermarkets, and hypermarkets 20 Grocery stores and similar outlets 20.5 Convenience stores 9.3 Household, personal goods, and other stores** 50.2 *: Excludes wet market, morning market, night market and other non-permanent retail facilities. **: These establishments were not involved in the sale of food and beverage products. Source: exporthotline.com/upload/731A3377-74C5-4191-88F1-31A9489495E8.html An increasing number of middle to upper-income Malaysians are shopping in the modern supermarkets which are mainly located in urban areas. Some more growth of the major supermarket chains is forecasted (US Foreign Commercial Service). Since Kangaroo Internationals target group is focused on health aware consumers in the middle and upper income group, this seems to be the right distribution channel. The traditional grocery stores sell all sorts of products and are located in urban and rural areas (US Foreign Commercial Service). This is where the majority of Malaysians shop and in the beginning the grocery stores in larger cities should be targeted as well. Rural areas will not be a target market until the company is well established in Malaysia, customer awareness has been created and a reasonable market share has been reached. 7. Conclusion Kangaroo International is an Australian Soy food manufacturer, which is currently in the process of looking to become an international firm, by exporting products to Malaysia. This report outlines the strategies and objectives put into place in order to successfully export Kangaroo Soy Cheese to Malaysia. This is achieved by first conducting a detailed analysis of the environmental factors within Malaysia, this includes identifying the aspects which need to be considered when modifying the product to suit the Malaysian consumer. The analysis revealed that Malaysia has a stable government, with positive economic performance expected to continue into the future. The infrastructure and technology environment provide substantial opportunities for an international business to prosper. The Malaysian culture is of a very collectivist nature and places high priority on trust and respect, there is also a high proportion of the population being Muslim, this has such implications as providing H alal certified products. Once these environmental factors were taken into account a marketing strategy was developed, modifying the marketing mix to most effectively fit with the Malaysian business environment. It is believed that these strategies implemented by Kangaroo International will allow the business to gain a significant competitive advantage and prosper in the Malaysian market. References: Anonymous 2003, Health benefits of Soy food, Soyfood, USA, Vol. 6, Iss. 1 Austin, IP, GK, 2004, Goh Keng Swee and Southeast Asian Governance, Marshall Cvendish International, Singapore. Austrade, Processed Food to Malaysia, viewed 26 April 2006, . Fletcher R. Brown L. 2005, International Marketing; An Asia Pacific Perspective 3rd Edition, Pearson Education Australia, Frenchs Forest NSW FMM, 2006, viewed 5 May 2006, Gremler, D., Gwinner, K. Brown, S 2001; Generating positive word-of-mouth communication through customer-employee relationships, International Journal of Service Industry Management, Vol. 12, Iss. 1; pg. 44. Info Please Encyclopaedia, Malaysian Country Profile, viewed 24th April 2006, Kangaroo International, Homepage, viewed 25 April 2006, . Kotler P, Brown L, Adam S Armstrong G 2004, Marketing 6th Edition, Pearson Education Australia, Frenchs Forest NSW Nestl, 2006, viewed 5 May 2006, Patterson, P. Smith, T 2001; Relationship benefits in service industries: a replication in a Southeast Asian context, The Journal of Services Marketing, Vol. 15, Iss. 6/7; pg. 425, 19 pgs Royal Malaysian Customs, Importer/Exporter, viewed 26 April 2006, . Tan, G, 2003, ASEAN Economic Development and Cooperation, Times Media, Singapore. US Foreign Commercial Service, 2003, viewed 10 May 2006, World Trade Organization, Trade Policy Review Body: Malaysia, viewed 25 April 2006, Appendix A- Hofstedes Cultural Dimensions Power Distance Index (PDI) focuses on the degree of equality, or inequality, between people in the countrys society. A High Power Distance ranking indicates that inequalities of power and wealth have been allowed to grow within the society. These societies are more likely to follow a caste system that does not allow significant upward mobility of its citizens. A Low Power Distance ranking indicates the society de-emphasizes the differences between citizens power and wealth. In these societies equality and opportunity for everyone is stressed. Individualism (IDV) focuses on the degree the society reinforces individual or collective achievement and interpersonal relationships. A High Individualism ranking indicates that individuality and individual rights are paramount within the society. Individuals in these societies may tend to form a larger number of looser relationships. A Low Individualism ranking typifies societies of a more collectivist nature with close ties between individuals. These cultures reinforce extended families and collectives where everyone takes responsibility for fellow members of their group. Masculinity (MAS) focuses on the degree the society reinforces, or does not reinforce, the traditional masculine work role model of male achievement, control, and power. A High Masculinity ranking indicates the country experiences a high degree of gender differentiation. In these cultures, males dominate a significant portion of the society and power structure, with females being controlled by male domination. A Low Masculinity ranking indicates the country has a low level of differentiation and discrimination between genders. In these cultures, females are treated equally to males in all aspects of the society. Uncertainty Avoidance Index (UAI) focuses on the level of tolerance for uncertainty and ambiguity within the society i.e. unstructured situations. A High Uncertainty Avoidance ranking indicates the country has a low tolerance for uncertainty and ambiguity. This creates a rule-oriented society that institutes laws, rules, regulations, and controls in order to reduce the amount of uncertainty. A Low Uncertainty Avoidance ranking indicates the country has less concern about ambiguity and uncertainty and has more tolerance for a variety of opinions. This is reflected in a society that is less rule-oriented, more readily accepts change, and takes more and greater risks. Long-Term Orientation (LTO) focuses on the degree the society embraces, or does not embrace long-term devotion to traditional, forward thinking values. High Long-Term Orientation ranking indicates the country prescribes to the values of long-term commitments and respect for tradition. This is thought to support a strong work ethic where long-term rewards are expected as a result of todays hard work. However, business may take longer to develop in this society, particularly for an outsider. A Low Long-Term Orientation ranking indicates the country does not reinforce the concept of long-term, traditional orientation. In this culture, change can occur more rapidly as long-term traditions and commitments do not become impediments to change. Appendix B -Summary of Cultural Differences As stated earlier if an international firm is to be successful it must understand how cultures differ, these differences can be identified in a number of key concepts. First cultures differ in their attitudes towards time. Assumptions about time are very deep seated in cultures (Fletcher Brown, 2005). In general it is necessary to allow longer periods of time for business transactions in Asian countries than that of Western countries, this is particularly evident in the Malaysian business environment. This is due to Asian countries adopting a polychronic view of time in which time is cyclic and everything in life must be dealt with in terms of its own time (Fletcher Brown, 2005). This Contrasts the Western countries approach of a monochronic view, in which time is linear having a beginning and an end, with a focus on schedules and time is money (Fletcher Brown, 2005). The second concept is space; this can be both physical and abstract. Physical space refers to both location and size of offices and personal proximity (Fletcher Brown, 2005). This is demonstrated in western societies where office size and location define status, this is not the case in all cultures. Secondly personal space differs between cultures. Third, the concept of familiarity is important to understanding the speed in which friendships are formed, level of superficiality, obligations of friendship (Fletcher Brown, 2005). This is of particular importance when operating in Malaysia as trust and respect are integral parts of the culture. The fourth difference is in consumption patterns, these are reflected in varied views of material possessions and dress. In some cultures, Western for example, power is symbolized by material possessions. Appendix C -SWOT Analysis Internal view Strength excellent products * Organic * Halal (and Kosher) conform * Non-GM * Soy product counts as healthy food (lowers cholesterol) * Soy-cheese will be better for Asian people who have in general problems when they digest diary products. They will be able to enjoy cheese without the side effects * Wide product range (next to soy cheese and soy cream cheese many more soy products such as yoghurt, milk, and butter are produced) * Australian products stand for guaranteed high quality * Product can be accepted as alternative to local products and because soy based can fit in with local culture focus on building export markets successful in Australian market knowledgeable in different soy product production and handling technical alibility to adapt production efficiently to meet buyers needs Long tradition, established in 1987 Loyal, well trained (Australian) staff May use existing staff to manage export Companys name is already indicating international marketing opportunities (Kangaroo International). brand recognition by Australian target consumer (within Australia, but Australians will also recognize the product if they go overseas) support (knowledge) form Australian government if the company wants to enter Malaysia English is spoken in Malaysia Geographically close Australia has good connections to Malaysia Strategic Plan Weaknesses No previous experience with Malaysia Fresh products are preferred by locals Locals prefer low-priced, known products Alliances might not work Excessive capital needed Current premises may not meet export standards Product design might use some alteration Homepage only in English, not in Malay; not ready for internet sale Regular visits of Management costly and too time consuming External view Opportunities Trend to westernization in Asian countries Relatively large customer segment in Malaysia Possible Free Trade agreement between Australia and Malaysia Malaysia is political stable Wawassa 2020 (vision 2020). Malaysia has plans to achieve 1st world status (Madrid, 2004) Malaysia is a rapidly developing 2nd world economy Kuala Lumpur Stock Exchange (KLSE) Domestic Mutual funds o Traditional equity o Fixed income o Islamic funds: money market and fixed income (Madrid, 2004) Overseas Mutual funds which target Malaysia Threats Supply of some of the products are subject to seasonal changes Fairly high entry barriers through well established dairy products Cultural differences Emerging market risks Domestic Mutual funds o Fixed income: risk analogous to US bond funds Legacies of assertive policies of 1998 Malaysia has liquidity problems (Madrid, 2004) Critical Success Factors 1. A country knowledge has to be established and management will have to visit Malaysia frequently 2. Financial Recourses and Human capital has to be guaranteed at all time 3. Products must be continuously deliverable Objectives Following objectives would like to be reached in the first exporting period. 1. Establish a market for Kangaroo Soy Cheese and Cream Cheese in Malaysia a. AUS $0.3 million in year one b. AUS $3.0 million in year three 2. Establish customer awareness 3. Establish well founded business connections and reliable networking Appendix D Contextual Factors explained As mentioned earlier in the paper culture plays a pivotal role in determining whether or not a product will be successful in an international market. As a result it is critical to understand the manner in which culture influences the target consumers perceptions of the marketing campaign of Kangaroo Soy Cheese in Malaysia. To address this issue the variety of promotional tools implemented throughout the marketing campaign will highlight that Kangaroo Soy Cheese is Halal certified and sensitive to the Muslim religion in order to avoid offending or disrespecting the local culture of Malaysia. Cultures also vary in the way the context of verbal and non-verbal messages are interpreted. As a result cultures fall onto a continuum between low and high context cultures (Fletcher Brown, 2005). A high context culture is one in which what is said conveys a limited amount of the message meaning, instead greater emphasis of interpretation is placed on how and where it is being said, as well as t he status and body language of the speaker. Malaysia falls into the category of a high context culture, a characteristic that has a significant impact on the correct approach to deliver the desired message. Consequently the promotional campaign will use opinion leaders of high social status to endorse the product, while ensuring that the appropriate emphasis is placed on non-verbal cues. The second factor which must be accounted for in order effectively communicate with the target market is language. Languages differ in the way they convey meaning, the precision of this message, the degree to which things are implied as opposed to specified and the extent to which messages are conveyed through verbal or non verbal cues (Fletcher Brown, 2005). As a result just translating one language into another seldom conveys the message accurately. While English is spoken in Malaysia and may be suitable in business situations, to effectively reach the target consumers it is considered vital to ensure that promotional mediums are communicated in Bahasa Melayu the native language of Malaysia. Care will be taken to correctly translate the message from English to Bahasa Melayu in order to accurately portray the desired message. These strategies will foster greater levels of communication reach and acceptance amongst the target consumers. The final factor of importance, to Kangaroo Internationals marketing communications within Malaysia, is government regulation. Strict censorship laws exist within Malaysia and must be complied with at all times (Austrade, 2006). Consequently all marketing communications will be thoroughly checked before public release to ensure compliance with current government regulations. Once these environmental factors that inhibit effective communication with the target market are overcome, strategies for the international promotion can be developed. Research Papers on Malaysia - Country bookDefinition of Export QuotasPETSTEL analysis of IndiaMarketing of Lifeboy Soap A Unilever ProductAnalysis of Ebay Expanding into AsiaBionic Assembly System: A New Concept of SelfInfluences of Socio-Economic Status of Married MalesIncorporating Risk and Uncertainty Factor in CapitalAssess the importance of Nationalism 1815-1850 EuropeThe Project Managment Office SystemResearch Process Part One