Fedex and UPS Essay

1. Accounting Treatments Capital Lease -Lessee Initially, the lessee recognizes the asset under his property, plant and equipment. The amount that should be debited is the Lower of asset’s fair value and present value of minimum lease payments. The present value is determined by discounting minimum lease payments using interest rates implicit in the lease. Also, initial direct cost that the lessee incurs in relation to the lease is added to the cost of recognized asset. On the credit side of the entry should be lease liabilities, which is in fact, some kind of a loan. The lease liabilities should be split into current and noncurrent liabilities as some payments are made within 12 months while others are made after 12 month of the reporting date. Subsequently, there are two things we must take care of. First, we must depreciate the lease asset over the economic life, not over the lease term because that doesn’t necessarily need to be the same. The entry is to debit depreciation expense in profit or loss and credit th e accumulated depreciation account. Secondly, we need to allocate the lease liability or minimum lease payments paid to the lessor into two parts; reduction of lease liability and finance charge or interest. IAS 17 requires the finance charge to be allocated so as to produce a constant periodic rate of interest (interest rate implicit in the lease) on the remaining balance sheet liability. (Refer to appendix A for journal entries Capital lease-Lessor The lessor is a finance provider, and therefore records lease receivables as the debit side of the entry. The lease receivable is the net investment in the lease, which is the total of minimum lease payments and unguaranteed residual value. Total of these two figures is gross investment in the lease and we need to discount it to present value using discount rate implicit in the lease and all this must be equal to fair value of the asset plus initial direct cost. The credit side to this entry is simply cash given out by the lessor. Subsequently, we have to split minimum lease payments received from the lessee between reduction of finance lease receivable and finance income similar to what the lessee would do. (Finance income should reflect a constant periodic rate of return on the lessor’s net  investment in the lease.) (Refer to appendix A for journal entries) Operating Lease-Lessee In an operating lease, the lessee does not recognize any asset. The lease payments are recognized as rent expense in profit or loss on a straight-line basis. The journal entries would include a debit to rent expense and credit to cash or accounts payable. (Refer to appendix A for journal entries) Operating -lessor Lease payments received from the lessee are recognized as revenue in profit or loss on a straight-line basis. The lessor keeps the asset on his financial statement and depreciates it in line with its fixed asset accounting policy. (Refer to appendix A for journal entries) Advantages of Operating Lease In an operating lease, the lessee is considered to be renting the equipment and thus the lease payment is recorded as rental expense. No assets or liabilities are recorded on the balance sheet (Off-balance sheet financing). This is beneficial for companies because it will result in a lower asset base, therefore creating a higher ROA. Operating lease will also display more desirable solvency ratios such as lower debt to equity. This off balance sheet method of recording will also produce better debt covenant ratios for the company to show its debt lenders. Moreover, some companies associate management bonuses to certain ratios such as return on capital, which would be more optimal looking if recorded under operating lease. Another major benefit of operating leases is the potential tax benefits. An operating lease may allow the company to deduct payments as operating expenses during the period in which they are paid. If the company purchases equipment, they may be able to deduct the in terest, as well as the cost of the depreciation. 2. Under current Financial Accounting Standards Board regulations, what business arrangements might FedEx have made in order to account for leases as operating leases rather than capital leases? An operating lease is usually coined as anything that is not classified as a finance lease.  Factors that an operating lease may include are: 1. If a lease does not significantly transfer all the risks and rewards, associated with ownership of an asset the lease 2. If the ownership of the asset is more likely to go back to lessor at the end of the term 3. The lessee does not have the option to buy the asset at a cost significantly below the fair value of the asset → ie. a bargain price. The term of the lease is not a major part of the economic life of the lease item. IAS 17 does not explicitly say how much is a major portion however ASPE states that 75% and above is a major portion. 5. If there is little or no risk to the lessee; all major risks are borne by the lessor. An example wo uld be cancellation costs. 6. The leased asset is of common nature; not specialized and can only be used by the lessee. 7. The present value of the total amount of minimum lease payments do not equal or is close to the fair value of the asset leased. Other Additional Criteria can be: 8. Whether fluctuation in fair value at the end of the lease accrue to the lessor 9. If the lessee does not have the option to extend the lease for a secondary period at a â€Å"below the market† price Arrangements FedEx would have to make to disclose the operating lease would include disclosures about: the outstanding payments left for non-cancellable operating leases for the time periods: within one year within two to five years after more than five years the total future minimum sublease income for non-cancellable subleases the lease and sublease payments recognised in income for the period the contingent rent recognised as an expense  the general description of significant leasing arrangements, including contingent rent provisions, renewal or purchase options, and restrictions imposed on dividends, borrowings, or further leasing For operating leases, IAS 17 states that the total lease payments should be incurred as an expense and would appear on the income statement regularly with the amount on a straight-line basis over the entire lease term. Any enticements that the lessee may have received from the lessor to enter into the lease arrangement, must also be divided on a straight line basis to offset the  rental expense. 4. Lease Capitalization on Financial Variable and Ratios Unrecorded Lease Liability and Debt-to-Equity Ratio Based on the ratios and calculations performed there are many incentives for companies to report leases as operating leases rather than capitalize them. It can be concluded that the impact of lease capitalization on the financial statements is far greater for FedEx than UPS, however both companies are reaping benefits from reporting leases as operating leases. Capitalizing leases requires that leases are recorded as assets and liabilities on the balance sheet. The Unrecorded Lease Liability is 98.41% of existing liabilities for FedEx and 8.27% for UPS. Thus, by not capitalizing leases, firms are able to decrease their liabilities and present a more lower debt/equity ratio.The Debt/Equity ratio gives stakeholders an indication of the capital structure of the firm. The ratio for FedEx moves from 0.97 to 2.70, which indicates a more leveraged capital structure. UPS ratio moves from 0.87 to 1.28. The capitalization of leases would not a llow FedEx to maintain a debt-equity ratio below 1, which would change shareholder’s view on the financial flexibility of the firm. If FedEx wishes to maintain a relatively low debt-to-equity ratio on their financial statements it would be unfavourable to capitalize leases. Return on Asset The Return on Assets (ROA) is another key ratio that is affected when leases are capitalized due to the increase in assets that the company owns. When leases are capitalized there is a decrease in ROA for both FedEx and UPS by 1.69% and 0.32%, respectively. This is a relatively significant drop in efficiency and further motivates firms to record leases as operating leases. Interest Coverage Ratio The interest coverage ratio informs stakeholders of a company’s ability to pay back their interest. There is a significant drop of 17.26 in FedEx’s interest-coverage ratio and a drop of 9.2 in UPS’s interest coverage ratio. This means that a certain amount of profit is attributed to the fact that leases are not capitalized. In conclusion, it is clear from the variables and the ratios analyzed why companies prefer to record leases as operating leases rather than capitalize them. Operating leases are kept off the balance sheet and their main impact on the income statement is rent expense since the risks of ownership are not assumed. On the other hand, when leases are capitalized, the present value of payments including interest expense,  is treated as a liability on the balance sheet. These two accounting methods result in ratios to be more favourable for the firm when leases are recorded as operating leases rather than financial leases. 5. New Exposure Draft: A Contract-Based Approach Development of Contract-Based Approach Leasing is a critical activity in business as it is a means of gaining access to assets, obtaining finance and reducing an entity’s exposure to the risks of asset ownership. Some key advantages of leasing assets rather than purchasing assets are 100% financing, flexibility and the tax advantages. Therefore it is crucial that leases are appropriately accounted for and nature and duration of the lease agreement is considered. Current models require lessees and lessors to account for leases as either finance leases or operating leases. A recurring criticism of this approach is that lessees are not required to recognize assets and liabilities arising from operating leases. We can see the benefits of this in the financial statements and ratios of FedEx and UPS, as discussed above. In our opinion capitalizing leases provides stakeholders of a less aggressive view of a company’s financial statements. The contract based approach ensures th at companies recognise the right to use an asset along with the contractual liability on its balance sheet. Recognition and Measurement (Lessee) IASB and FASB are proposing a new approach to lease accounting that ensures entities record assets and liabilities arising from a lease. With this new approach, a lessee would recognize assets and liabilities for leases with a maximum possible term of more than 12 months. Under this contract-based approach, the asset is taken on by the lessee as the right to use to asset and not the asset itself. This a key difference between the contract-based approach and finance leases. When the lease is acquired, the lessee would recognise a lease liability. This would refer to the obligation of the lessee to make recurring lease payments. Additionally, the lessee would recognize a right-of-use asset representing a lessee’s right to use the underlying asset for the lease term. The right-of-use asset would include the initial measurement of the lease liability, any lease payments made at or before commencement date and any initial direct costs incurred by the lessee. The proposal further categorizes the leases into Type A and Type B leases. Type A Lease Recognition Leased assets other  than property (such as equipment and vehicles) would be classified as a Type A lease. However, if the following two conditions are met, the lease would be classified as a Type B: if the lease term is an insignificant portion of the asset’s economic life and if the present value of the lease payments is insignificant relative to their fair value. Initial measurements for a Type A lease would include a right-of-use asset and a lease liability. The lease liability would be measured at the present value of the lease payments, measured at the rate charged by the lessor. If that rate cannot be immediately determined, the lessee uses the incremental borrowing rate. Subsequent measurements would recognize interest expense and the amortization of the right-of-use asset separately on the income statement and balance sheet. This would be accounted for separately from the amortization of the asset. Type B Lease Recognition Leased assets of property (such as land or a building) would be classified as Type B leases. Initial measurements would be parallel to the initial measurements of Type A assets. However, subsequent measurements would recognize a single lease cost. This cost would be a measurement of the interest expense as well as the amortization of the asset. This combined figure would be calculated on a straight-line basis. Effect on Existing Operating Lease Existing operating leases must be appropriately treated based on the a ccounting standards for leases. Leases that were previously reported as operating leases by lessees should be recognised using the new approach at the beginning of the earliest comparative period. The lessee should recognize the lease liability, which is the present value of the remaining lease payments. For Type A leases, a right-of-use asset is measured as a proportion of the lease liability. The proportion is based on the remaining lease term at the time of the earliest comparative period. Additionally, the right-of-use asset recorded should be adjusted for any previously recognised prepaid or accrued lease payments. On the other hand, for Type B leases, a right-of-use asset is measured at an amount that equals the lease liability. The asset is then adjusted for previously recognised prepaid or accrued lease payments.

Similarities in the Epic of Gilgamesh and Siddhartha as Portrayed by an Unknown Author and Herman Hesse

Similarities in The_ Epic of Gilgamesh_ and Siddhartha As portrayed by an unknown author and Herman Hesse Both Siddhartha and Gilgamesh believe in themselves, they do not let others define them or make decisions for them. Siddhartha demonstrates that he has strong will from the very beginning of the novel. He is taught by the Samana even though the teachings he received up to this point in his life say that the Samana’s wayis the wrong religion. â€Å"It is not fitting for a Brahmin to speak angry and violent words/But indignation moves my heart/I do not wish to hear that request a second time from your lips†(Hesse, 9). Siddhartha wants to make his own decision to study with the Samana, therefore, he needed to go against his father’s judgment and demand leave to travel with the Samana. This clearly shows Siddhartha’s strong will by wanting to study with the Samana strongly enough to disobey his father. Siddhartha also demonstrates determination when he does not fall prey to the temptations of Sublime ones teachings. Siddhartha believes you do not need a teacher or scriptures to be taught how to achieve Nirvana. He abandons the Buddha and also his friend with hope of finding the way to Nirvana on his own. Gilgamesh on the other hand is the ruler of Uruk. In order to be able to keep his people alive he needs to be level headed and strong willed. Gilgamesh is so strong willed he seems arrogant, he believes he is one of the Gods and immortal and forgets that he is only 2/3 God. The villagers of Uruk say that â€Å"[Gilgamesh’s] arrogance has no bounds by night or day†(tablet 1, 62). Although his strong will is mistaken for arrogance on numerous occasions, Gilgamesh changes through the course of the novel. After meeting Enkidu he seems less arrogant to the people of Uruk and becomes their hero. Gilgamesh’s strong will helps him through the trials he must face to reach immortality. He faces the battle with Hambaba, the death of his friend, he passes through the mountain pass, rows across the waters of death and then return to his people. Gilgamesh did not give up during his journey because he did not want to let the people of Uruk suffer an illfate. The thought of his people gives him courage and his strong will is what allows him to continue. Gilgamesh and Siddhartha are two men from different times but they still share the same quality of being strong willed. The importance of loyalty is conveyed through Siddhartha’s and Gilgamesh’sloyalty to their friends. Siddhartha is loyal to every person he meets during his journey, but his most trusted friend is Govinda. They start their journey together; Govinda is in love with Siddhartha and therefore follows all his wishes. After meeting the Sublime One Siddhartha feels as though he has wronged his friend by bringing him along on his journey, because they have not found Nirvana: Govinda, my friend, now you have taken this step, now you have chosen this path. Always, oh Govinda, you've been my friend, you've always walked one step behind me. Often I have thought: Won't Govinda for once also take a step by himself, without me, out of his own soul? Behold, now you've turned into a man and are choosing your path for yourself. I wish that you would go it up to its end, oh my friend, that you shall find salvation! Siddhartha wants only the best for his friend so he waits for Govinda to decide to leave him instead of sending him away. Siddhartha wishes Govinda well, even though he knows later on he will feel lonely without his friend. Siddhartha and Govinda meet each other after they depart on two other occasions. On each meeting they speak as though they had never left one another’s side. Friendship thus plays a key role in Siddhartha as well. Gilgamesh initially does not seem like a loyal person because of his arrogance, however, when he meets Enkidu, Gilgamesh becomes a loyal friend. At the beginning of their relationship, Gilgamesh’s loyalty seems questionable, but after the death of Enkidu the reader can see the great love he has for his friend. â€Å"[. . . ] seven days and seven nights he wept for Enkidu† (Tablet, 96). Following the death of his friend, despite Gilgamesh’s vow to walk with him in the neverlands (valley of death), he leaves on a journey to find immortality because he does not want his people to suffer the way he has. Despite his journey to find immortality Gilgamesh comes to realize that immortality will not bring his friend back from the dead. He discovers that he must live his life the way Enkidu would have wanted him to; without grief. Gilgamesh decides to stay loyal to his friend and walk in the neverlands with him after his own death. Gilgamesh and Siddhartha are loyal to their closest friends and they only wish the best for them. Through their loss they were able to achieve impossibilities. Siddhartha and Gilgamesh never truly experience grief until the death of the ones they love. Their experience with grief is similar because it helps them evolve as people and it changes their lives. After the death of Kamala, Siddhartha is enlightened and is able to experience the grief of this world as well as see the grief he inflicts on his father the day he leaves. Kamala’s death leaves Siddhartha with the responsibility of raising his son, who hates living as a ferryman. His son wants to return to the town but his father does not let him. â€Å"I hate you you’re not my father/even if you were her lover ten times over. † (Hesse,108). Siddhartha feels grief at that moment for not being loved by his son, but it is through grief that he can understand Nirvana. Gilgamesh has everything he has ever wanted and he has never had an occasion to understand or feel grief. He would have never felt grief if he did not enjoy the company of Enkidu. The death of Enkidu is the turning point in The Epic of Gilgamesh, because Gilgamesh, in order to forget his grief, sets out on his journey to find immortality, in his attempt to resurrect Enkidu, also to shelter his people from grief. For Gilgamesh and Siddhartha, grief is the turning point in their lives, because it helps them move forward. Siddhartha discovers Nirvana and Gilgamesh finds that you can’t escape reality with immortality. While writing Siddhartha and The_ Epic of _Gilgamesh the authors would have been influenced by the beliefs of the society in which they lived. Siddhartha follows the Buddhist belief that you can find Nirvana through teachings and meditation. Nirvana is a state of mind which is completely at peace and with complete clarity and lucidity without thoughts of volitional formation (Bhikkhu Bodhi). Herman Hesse wrote the novel Siddhartha during his time in India and China, where the central religion is Buddhism. It is unknown to this day who the author of The Epic of Gilgamesh really was. First the story was found on tablets years after it was written and secondly the tablets state that Gilgamesh himself had written the novel. The reason people do not believe it was Gilgamesh who wrote this novel is because it is written in the third person. But we do know that The Epic of Gilgamesh is influenced by the Babylonian’s beliefs of dream interpretation and the cosmic. Since the epic is found in Babylonian ruins, archeologists assume that the epic is written by the Babylonian’s who also believed in astrology. The novel states that it is written during the age of the Taurus, also Gilgamesh sacrifices a bull, which is a custom among the Babylonians (Tony Crisp). Both novels are influenced by the place they were written but also during the era they are written in. Siddhartha is written in 1922 by a German named Herman Hesse who studied the Buddhist religion during 1910-1922. Around the time that Hesse wrote Siddhartha, his wife was suffering from mental instabilities and his son was seriously ill. Hesse stayed positive and strived for spiritual self-realization. Hesse states that â€Å"There is no reality except the one contained within us†(Hesse, 1919), this is a concept found within the novel Siddhartha. The difficulties and trials Hesse has to face helped make his novel one that’s praised around the world. The Epic of Gilgamesh has no official author because it is written on stone tablets that were discovered in the mid nineteenth century by Austen Henry Layard. They believed the tablets to be written around 2000 BCE but the actualdate is still argued. The tablets were found in ancient Mesopotamia, where they discovered 12 incomplete tablets. More tablets with a Syrian script have been found as far away from Mesopotamia as Syria and Turkey. Richard Hines) Both novels were written as a work of fiction but in reality they are both written using the name of an actual historical figure. Siddhartha of Gautama is known as the â€Å"Awakened one† or the Buddha throughout Asia; Hesse’s story does not follow closely to that of the Buddha. The journey they follow is different but the path they take to find Nirvana is the same. They both end up finding Niravan through medi tation and self teachings. the tablets on which The Epic of Gilgamesh is written tell the true tale of the historical figure, Gilgamesh, fifth king of Uruk. Water is the sign of purity and rebirth, but in order to be reborn in water you must emerge from its’ depths. (Didier Coiffard) During Siddhartha’s attempt to escape his life as a merchant, he runs away and decides to commit suicide near a river bank. While under the water he sees the word OM in front of him and finds himself unable to commit suicide. He emerges from the water a renewed man with renewed knowledge. â€Å"The new Siddhartha felt a deep love for this flowing water and decided that he would not leave it again so quickly† (Hesse, 81). He then meets the ferryman and becomes his apprentice in order to study the water and relearn his skills as a Brahmin and Samana. Siddhartha learns to listen to the river and becomes friends with it. With the help of the ferryman and the river Siddhartha finds Nirvana. He also relearns his skills of fasting, thinking and waiting. It is with the help of the river that Siddhartha is able to become a renewed and awakened person. Gilgamesh was also fortunate enough to find rebirth near water. Gilgamesh ends his initial quest near the river of death and retrieves a magic plant. In order to reach the plant Gilgamesh needs to submerge himself in the river. Once he emerges from the water he finds new hope in the magic plant, knowing that he could help his city. On his way back to UrukGilgamesh falls asleep and a snake steals the magic plant. For whom have I labored? For whom have I journeyed? For whom have I suffered? I have gained absolutely nothing for myself, I have only profited the snake, the ground lion! Gilgamesh goes back to Uruk to be with his wife and children, he realizes that he is only human and will keep his promise with Enkidu and walk in the neverlands with him. Both Siddhartha and Gilgamesh follow higher powers during their lives. Buddhists do not believe in a high power so Siddhartha follows the idea of spiritual awakening and a spiritual leader within himself . Siddhartha hears from his spiritual being when he leaves the Buddha and meets a woman that he desires but â€Å"[. . . ] upon hearing his innermost voice, and the voice said, no† (Hesse, 47) He immediately gives up on the woman and leaves her. He hears from his guide more than once through his journey. He hears the voice at the river and sees the word OM which is what gives him emotionalstrength. Like Siddhartha, Gilgamesh also follows a spiritual guide except for Gilgamesh believes in the gods. Until having met Enkidu, Gilgamesh has given his respect to the gods by sacrificing women and animals as well as building temples and shrines. After meeting Enkidu, he takes his fate into his own hands and kills Hambaba, but Enkidu dies by the will of the gods because he was not suppose to kill Humbaba. Gilgamesh has been touched by the gods since birth as his father, Utnapishtim is a god, which would make him 2/3 God and 1/3 man. The lives of Siddhartha and Gilgamesh are touched by a spiritual presence that helps them through their journey to find the meaning of life. In the beginning Siddhartha and Gilgamesh do not understand the meaning of life because they have never experienced anything outside of their cities. Siddhartha does not understand all aspects of life and therefore cannot experience nirvana. So his spiritual voice sends him on a journey to find and experience life. Through his journey he finds that there is no such thing as time, â€Å"Nothing was, nothing will be, everything has reality and presence† (Hesse, 87). Without his journey into life he would have never found this wisdom and with knowing and understanding that time is irrelevant, he would have never found Nirvana. Gilgamesh is much like Siddhartha because he has not experienced anything outside of Uruk. After the death of Enkidu he realizes that he is not immortal and will die one day. This realization scares Gilgamesh so he sets out on his journey to find immortality. After meeting his father, Gilgamesh realizes that becoming immortal is impossible, so Gilgamesh acknowledges that one day he will die because he is only human. With this knowledge he goes back to Uruk and strives to be a good king for the rest of his life. Siddhartha learns that only through life experiences can the spiritual self be understood and Gilgamesh learns that even though one day everything will die, you have to do what youcan at the present time. Herman Hesse and the Babylonian text are stories that will always be loved by many readers. They are stories that can be passed down to future generations and taught for years to come because they show the true meaning of existence. Gilgamesh learns to appreciate his life as a human being as opposed to a god, and not wish for immortality. He also finds that he is only capable of so much. Siddhartha learns that life is meant to be experienced in order to find nirvana and be at complete peace. The stories tell the reader that they do not have to be perfect or have everything to be truly happy with the life they have. Siddhartha and Gilgamesh are two fictional characters very similar in nature, despite having been written in two different times; ancient history and the twentieth century. The morals and ideas that these books hold true to this day, in order to find our spiritual selves we need to go on a journey to the depths of our souls and find the peace with us. Tomb of Gilgamesh believed found. † BBC News. 23 April 2003. Water a source of inspiration. Cite expos l’eau pour tous. 9 January 2008. â€Å"Nirvana. † Wikipedia: The Free Encyclopedia. 7 January 2008 â€Å"Babylonian Dream Beliefs. † Dream Hawk. Mesopotamia. 6 June 1999. World Civilizations, Richard Hines. 8 January 2008 < http://w ww. wsu. edu/~dee/MESO/GILG. HTM> â€Å"Free Siddhartha Essays: Themes in Siddhartha. † 123HelpMe. com. 04 Jan 2008 http://www. 123HelpMe. com/view. asp? id=10368.

Image of nursing speech Essay Example | Topics and Well Written Essays - 500 words

Image of nursing speech - Essay Example This question can be answered by arguing that, despite these other professions being portrayed inaccurately with stereotypes; they do not possess the same â€Å"baggage† as nursing. For example, despite the mockery, medicine and law are respected professions whose practitioners are usually assumed as well educated and competent. It should be understood that the work of a nurse is equally demanding, and most of the nurses have advanced in their career education, yet for several reasons the public take us for granted. There are several antecedents of nursing image, most of the antecedents have painted negatively nursing image, they include: media; the media have fuelled majority of the stereotypes, in that it usually portrays nurses as naive as compared to other health care professionals. For example, several movies and advertisements have portrayed the negative image of nurses during their shows, like making the acting nurse to behave like a doctor’s puppet who is helple ss when the doctor is not there. This makes the public view nursing profession as a lesser profession in the health care. Gender and poor communication: Gender role is one aspect that children learn during their developmental milestone, and it usually leads to gender role stereotypes. Nursing is linked to female profession because it is much dominated by female gender as compared to the male gender. This has been perceived by several journalists as a barrier to communication, since nurses are not able to speak to various media houses to air their concerns to the public and other stakeholders. This has made nurses and the nursing profession to be like a land locked nation that is not known by majority of the public. Moreover, several scholars argue that, the public view male dominant profession like medicine as more powerful than female dominant professions such as nursing. Clothing style: the main aim of introduction of the uniform in

The Security Risks Associated with online access to database. The Article

The Security Risks Associated with online access to database. The common mistakes made by database administrators, security personal, and the application developers - Article Example This leads to only minimal security if any, despite regulations requiring organizations to secure their data (Chickowski, 2009-8). Further complicating factors are the complexity of large databases, and the heterogeneity of the modern database environment (Chickowski, 2009-6). Thus, Chickowski (2009-9) also recommends an education program to teach users about database security, and highlights the importance of good password management. Patches are infrequently applied because of the concept that if something is not broken, it doesn’t need to be fixed. Other areas of neglect are poor configuration management such as taking shortcuts, using test databases on production servers, etc. The latter especially leads to even further risks (Chickowski, 2009-8). These and other security lapses make databases vulnerable from worms, automated scanners, etc. Online databases can suffer from buffer overruns and the URLs â€Å"allow attacker code to be executed, and generally wreak havoc† (Chickowski, 2009-6). As for the application design itself, experts have even identified the most risky packages such as DBMS_SQL, UTL_TCP and DBMS_XMLGEN within Oracle, and third party applications can also undermine databases (Chickowski, 2009-8). Simple and expected measures for security are authentication, authorization, and access control. Apart from configuration and patches, more advanced measures are encryption, auditing, monitoring, and data masking essential for enterprise databases. Besides these, other technological solutions are ‘hardening’ the database using features provided by the database vendor, and keeping out non-essential items from the server, including documentation, sample configurations, code files and if possible built-in stored procedures that are unused. Anything else that cannot be deleted should be disabled instead. The relationship between databases and web applications are based on trust but

Australian financial accounting Speech or Presentation

Australian financial accounting - Speech or Presentation Example This can be very beneficial in the case of the businesses where the managers and the owners of the business are one and the same. b) The second hypothesis mainly deals with the debt covenant. Here the main focus is that the more the firms compromise on the debt covenants the higher the chances for the managements to use the policies and to report the future earnings as a part of the current period, mainly because the probability of the possible defaults on debts will be reduced by the high net earnings. c) The final hypothesis is where the political costs of the firms are used to adjust the costs accordingly and this is most effective companies that deal with consumer attention and other related businesses. The above mentioned hypothesis can be tested by studying real life companies. For doing so, it would be most effective to contact companies from different fields and industries. It would also be advisable to not only conduct qualitative researches with the management of these companies but also include a through on the job training with the management. Doing this will help the researcher gain access to the financial information and will also permit a high chance for a more focused approach, with a good exposure to the working of the companies as well. The researcher can also use this exposure to meet and gain as much knowledge as possible from the top management which will help understand why certain strategies are adopted within the organization and the overall impact that these might have on the financials of the company as well. Hence this will prove to be the most effective and efficient method of dealing with the financial of the companies as well as to test the hypothesis of t he positive accounting

Asset Assesment and E-Commerce Essay Example | Topics and Well Written Essays - 3250 words

Asset Assesment and E-Commerce - Essay Example early internal audit reports Delineation of Authorities and Responsibilities Roles defined and responsibilities delineated for: Overall fixed asset officer: 1. planning and overseeing of system asset management 2. involving in the implementation of asset management plan 3. taking action of defective or obsolete assets Hardware and software custodians (as related): 1. obtaining resources 2. performing functions 3. documenting and maintaining records 4. deployment and controls 5. managing contract agreements, internal and external customers’ relationships Asset Management manual and strategic plans, roles and responsibilities specified in the job description Organization-wide communication of the specified responsibilities Minutes of meetings, e-mails, posting in bulletin board Policies and Procedures Availability of policy and procedure development, periodic review, approvals, issuance, and control Approved policy and documented implementation Documented policies including: 1. Employees and leadership responsibilities on of software and hardware in use 2. limitations on the use of assets and software for personal use 3. compliance to legal and regulatory requirements, propriety and protection of data 4. asset acquisition 5. approval on installation and use of software 6. consequences of violating the policies Review of policies and documents on implementation Organization-wide communication of policies including: 1. newly joined employees during orientation period 2. continuing annually through in-house trainings 3. signing on acknowledgement 4. accessible to all anytime needed Publications through the e-mails, system database for manuals, adding to the code of conduct, e-mailing and minutes of meeting MANAGEMENT OF ASSETS INVENTORY Identification of Software Asset... This study shows that per audit checklist used, internal audit is not conducted periodically. Hardware changes are not covered in internal audit. Technology resources were not considered in the current year budget plan. Functions in control of assets overlap with overall fixed custodian and software and hardware custodians. Purchasing officer has nothing to do with assets contracts. Computer games are installed in the computer networks. No regular training of employees related to information technology. Positive findings deserve appreciation from the management to the responsible employees. â€Å"Keep up the good work.† On the other hand, all employees should get training on information technology. IT Department should be part of orientation program presenters for new employees. The human Resources yearly training program should include information technology topics. All employees should sign the â€Å"statement of confidentiality†. Storage of software, backup system an d consequences of information system violations should be included in the security policy.Findings from Belarc Advisor system audit recommendation should configure settings on account lockout, passwords, event logs, files permission, security options, user-right assignment and system services. Define policies for password issuance and usage, audit, the Internet, Explorer Seven and local computer. Impose restrictions on local computer administration templates, network, systems, and Windows. Create profiles for Windows firewall, domain, and standard.

Speech 101 Essay Example | Topics and Well Written Essays - 1000 words

Speech 101 - Essay Example It is normal that when people interact, they give and receive wordless signals. The gestures people make during communication send or portray strong messages. What people talk by word of mouth is distinct from what gestures portray. Therefore, the speaker needs to understand that vocal and physical speech is very significant in sending the message to the audiences. The use of physical signs or nonverbal communication has the ability to demonstrate our feelings, thoughts, and can emphasize on our points (Dozier 32). During speech delivery, the speaker needs to make use emblems of emblems since they enable him or her to translate the information to the audience who does not understand the language. It is important to note that emblem is related to sign language than daily body language. For instance, sometime when speaking about Greece mythology, the speaker could hold his or her arm with all fingers sealed in, apart from the second and index fingers, which are wide apart, may signify victory or harmony of the ancient Greeks. Additionally, the speaker needs to use a gesture called illustrator or iconic gesture, when complementing a Greek heroes such as Aristotle and Plato for what they did especially in the field of philosophy and politics. When presenting a speech about Greece, the speaker needs to deliver clear information or messages that are matching both in verbal and nonverbal dimension. They have organized ideas or thoughts, pay attention to what he or she want to say and ensure that they win the attention of the audience. It is important for the speaker to focus on public speaking because he or she will be delivering a message to many people. Therefore, the speech will be organized on five aspects, speaker, speech, occasion, audience, and effect (Dozier 46). The speaker should build a suitable speech for distinct audience on distinct occasion or time and for distinct

Internal Control System Essay Example | Topics and Well Written Essays - 3250 words

Internal Control System - Essay Example Internal Auditing is defined as an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization to accomplish its objectives by evolving a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. The internal audit activity evaluates the adequacy and effectiveness of controls that encompass the organization's governance, operations, and information systems (Arens, Loebbecke, Lemon, & Splettstoesser, 2006). Internal audit reviews include the reliability and integrity of financial and operational information, effectiveness and efficiency of operations, safeguarding of assets, and compliance with laws, regulations, and contracts. These reviews ascertain the extent to which operating and program goals and objectives have been established and whether they conform to the requirements of the organization. It also examines the extent to which results are consistent with established goals and objectives and whether operations and programs are implemented or performed as intended. One of the primary responsibilities of internal auditing is the assessment of internal control system of a company. ... It also examines the extent to which results are consistent with established goals and objectives and whether operations and programs are implemented or performed as intended. One of the primary responsibilities of internal auditing is the assessment of internal control system of a company. The French Institute of Chartered Accountants defines internal control "as a set of security measures which contribute to the control of a company. Its aim is to ensure, on the other hand, the security and safeguard of assets and the quality of information, on the other hand, the application of instructions given by the Senior management, and to encourage improvements in performances. It is evidenced through the organisation, methods, and procedures for each of the company's activities, so as to ensure the continuity of that company." There are two identified types of controls, Preventive and Defective Controls. Preventive controls are intended to foil errors or irregularities from happening. It is a positive control that helps avert losses. On the other hand, detective controls are devised to identify or uncover inaccuracy and irregularities after they have occurred. Both of these controls play an important role to an effective control system. Preventive controls are essential because they are proactive and emphasize quality. However, detective controls play a critical role in providing evidence that the preventive controls are working and thwarts losses. Internal Control Objectives There are seven pre-defined internal control objectives, namely, authorization, completeness, accuracy, validity, physical safeguards & security, error handling, and segregation of duties. 1) Accountability, authorization and approval- the

TAKE HOME FINAL Essay Example | Topics and Well Written Essays - 1250 words

TAKE HOME FINAL - Essay Example In chapter 10, page 191, There is a tendency when reading critical accounts of communication and culture to slip into â€Å"What’s the point of all these?† Or, better yet, â€Å"if this is true, then the problem is too big and we are all doomed.† One’s language will influence their view of the world and how they perceive their surroundings, the environment and even how the think; this is culture. In chapter one page 7 â€Å"Culture is a system of shared meanings and assumptions that draw people together within a social context of shared power.† The above definition points to the fact that culture is reflected in one’s language and reflects on how the particular people perceive the world (Warren & Deanna, 2011). The other point of view is that Culture is reflected in language. Cultural is reflected in language. Cultural requirements do not determine structure of language, but influence how, but influence how it is used. Human beings do not liv e in isolation but with other human beings. This living together brings in the urge to communicate with one another and pass information from one person to another. It is this communication that leads to the development of language. Language is therefore considered a means for communication mostly through verbal means. It is only logical that people who live close to another have a higher urge to communicate to one another and thus higher likely hood of having similar words in their language. It is also likely that the people who live close to one another often share a lot. For instance, they are likely to be living in the same vicinity and thus experience the same climatic conditions. This means if they are farmers, they are likely to engage in farming of similar crops, the same goes to pastoralists, traders, e.t.c. this leads to a particular way of doing things within the given area, hence culture. They tend to have a similar way of living and going about their daily activities. P eople of the same culture are often under the same umbrella of power. They share the same geographical space and as such are likely to be under the same authority. The language therefore that is most likely to emanate from this kind of people is likely to be related if not one. The information they are to communicate is mostly identical. In page 8 chapter one, â€Å"Power is a productive resulting from our different locations within culture (Warren & Deanna, 2011). By productive tension, we mean that our heightened awareness of power in our relationship with one another can be instructive- it can teach us about ourselves and each other, and communication.† The above therefore answers the question on how power, language, and culture is related. The relationship between culture and language is however more compound than the relationship between language and culture (Talk, 2008). In page 197, chapter one, â€Å"the power of communication is just that: power. If we can see the w orld through the lens of constructive theories of communication, if we understand the relationship between communication and culture as important and meaningful (and not just coincidental or easy), then we are faced with the most fundamental, hopeful bottom line: If the world is communicatively constructed, then none of the inequalities or violations or oppressions is given or inevitable and, because this is true we can always create the change we desire.†

Exodus and the hardening of Pharaoh's Heart Essay

Exodus and the hardening of Pharaoh's Heart - Essay Example As such they are without blemish and without any partisan attitude. Bible does not distinguish between Israelites and non-Israelites. Spiritual revelations are not bound by or confined to geographical boundaries. All arguments and counter-arguments originate below the mind level, and once an individual transcends the mind, one practically understands what divinity is! It is beyond words as such it cannot be expressed through speech. â€Å"All human beings are created in the image of God† (Magid) and at the same time God has blessed them with his free-will. They have the ability to act as per their volition and possess the capability to atone for their sins. Free will is the fundamental aspect of divine play. â€Å"Therefore, God’s removing the possibility of repentance (hardening Pharaoh’s heart) fairly raises the question of ethical reciprocity and just desserts.†(Magid) If this is agreed, the next question is God hardening anyone’s heart that â₠¬Å"challenges God’s relationship to humanity in Scripture† (Magid). This is the root cause of the â€Å"philosophical problem.† If Bible is taken for granted as a scripture of literature limited to the cultural and historical aspects, then the problem of hardening Pharaoh’s heart turns out to be the secular problem, and not of the Bible. Another way to sidestep the â€Å"problem† of Pharaoh’s hardened heart is to view Pharaoh as one who will not repent because he cannot repent. In Exodus 3:20 God ordains that He will bring plagues (wonders) upon Egypt as a rejoinder to Pharaoh’s disinclination to free Israel. In Exodus 4:2, God will â€Å"stiffen Pharaoh’s heart† to enable Him to engulf Egypt with plagues. In the first verse plagues are mentioned as an essential ploy for accomplishing the desired objective, i.e., liberation of Israel. In the second verse, the plagues are a crucial portion of the Exodus. God desires Pharaoh to uninterruptedly

The Coca-Cola Company Essay Example for Free

The Coca-Cola Company Essay The Coca-Cola Company is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands. The company and bottling partners are dedicated to the 2020 Vision, a roadmap for doubling system revenues this decade, focused on five key areas—profit, people, portfolio, partners and planet. Vision It represents what they need to accomplish in order to continue achieving sustainable, quality growth. People: Be a great place to work where people are inspired to be the best they can be. Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and satisfy peoples desires and needs. Partners: Nurture a winning network of customers and suppliers, together we create mutual, enduring value. Planet: Be a responsible citizen that makes a difference by helping build and support sustainable communities. Profit: Maximize long-term return to shareowners while being mindful of our overall responsibilities. Productivity: Be a highly effective, lean and fast-moving organization. Living their Values Their values serve as a compass for their actions and describe how they behave in the world. Leadership: The courage to shape a better future Collaboration: Leverage collective genius Integrity: Be real Accountability: If it is to be, its up to me Passion: Committed in heart and mind Diversity: As inclusive as our brands Quality: What we do, we do well Focus on the Market Focus on needs of their consumers, customers and franchise partners Get out into the market and listen, observe and learn Possess a world view Focus on execution in the marketplace every day Be insatiably curious Work Smart Act with urgency Remain responsive to change Have the courage to change course when needed Remain constructively discontent Work efficiently Act Like Owners Be accountable for our actions and inactions Steward system assets and focus on building value Reward our people for taking risks and finding better ways to solve problems Learn from our outcomes what worked and what didn’t Be the Brand Inspire creativity, passion, optimism and fun FOCUS ON CONSUMER Responding to consumers` needs with innovation Consumer needs and demands are constantly evolving throughout markets. In order to remain relevant to their consumers they establish clear category and brand priorities and define focused objectives. They drive innovation by continuously building on their strong family of brands and introducing new flavors and packages in specific markets. Part of their innovation process,  they are launching existing brands in new markets and re-launching or reinvigorating existing brands where appropriate. In many of the markets where adults are a growing segment of consumer base, they have launched several product innovations to ensure they meet their expectations and their increased interest in reducing their sugar and calorie intake. In 2008, they launched Coca-Cola Zero, a full-flavor no calorie Coca-Cola beverage highly popular among adult consumers, which is available in 20 out of 28 markets. They have progressively reformulated Fanta, Sprite and Nestea so they now contain up to 30% fewer calories than in 2010. This has been a gradual process to enable the consumers to adjust to the reduced sugar content. The average calorie content of beverages is now 31Kcal/100ml, representing a 16% decrease since 2011 and supporting their commitment to promoting healthy lifestyles. They are also innovating in the use of natural sweeteners, Stevia, a plant-based extract that has zero calories. In 2012, they launched Sprite with Stevia in Switzerland, and it’s mainly used in Nestea range available in 12 markets. Nutritional labelling information Key nutritional information is on front-of-pack labels of bottles and cans. In Europe, they have pioneered the use of Guideline Daily Amounts (GDAs) on front-of-pack labels since 2009. These show calorie, sugar, fat, saturated fat and salt content in absolute values and as a percentage of daily intake. These are reported per serving and as a proportion of a healthy diet, the most important piece of information needed to control weight. Additionally, no- and low-calorie beverages are clearly labelled on front-of-pack, so that consumers can identify them more easily. In 2012, they were one of 12 companies that signed up to the new EU Regulation on Food Information to Consumers, a voluntary framework for labeling of Guidelines Daily Amounts. Making packaging more sustainable While the content and origin of products are the basis, their packaging in a range of sizes and material types is also vital in meeting consumer needs. Packaging comprises an average of 22% of the cost of goods sold, a percentage they aim to reduce through minimizing raw materials used. They focus in particular on reducing the amount of packaging, known as light-weighting and on increasing the recycled and renewable content of  cans and bottles. They also work with suppliers to increase the recycled content of packages as using recycled instead of virgin material reduces the carbon footprint of packages. Recycling of metal and glass is already well established, with recycled content accounting for around half of the material in cans and bottles. Their focus is on the recycled content of our PET bottles. In 2013, their use of recycled PET rose by 23%. They also use refillable packaging, equating to 10% of volume. As well as recycled content, The Coca-Cola Company advances plant-based packaging innovation for the Coca-Cola System. For example, a plant-based PET – Plantbottleâ„ ¢ – developed by The Coca-Cola Company, was the first fully recyclable PET bottle made with up to 30% plant-based material( the bottle of Dorna in Romania). Marketplace execution Five core principles: Availability means placing the range of products within easy reach of consumers in the right package, in the right location, at the right time. Affordability means offering a wide variety of desirable, premium quality products, in packages appropriate for the occasion, at the right price. Acceptability means supplying an extensive and growing range of products that meet the highest quality standards in each country, enhancing their acceptability to consumers. Activation means motivating consumers to choose their products by improving product availability and attractiveness at the point of purchase and by building brand strength in their local markets. Attitude is about the way sales representatives and their people behave every day in their interactions with customers ensuring that they meet their needs with an objective to become the preferred supplier of choice. Customer care centers They established customer care centres that provide a single and efficient point of contact between the customers and themselves leading to improved satisfaction scores. To track the overall performance, they have employed the independent external organization GfK to provide a measure of customer satisfaction across markets. Hellenic Good Morning Meetings The ‘Hellenic Good Morning!’’ meetings enhance execution in the marketplace  whereby the sales force teams in each country meet on a daily basis, set key targets for each day, review results from the previous day and reward best performers. Marketing and merchandising They develop strong relationships with customers by focusing on execution of customer marketing promotions and merchandising at the point of sale. They support it by conducting regular customer satisfaction surveys and by developing innovative materials for retail sales activation, including new racks, point-of-sale visuals and sales aids for customers. They also conduct market analyses to better understand unique shoppers and purchase occasions in different trade channels. This information is used to develop all of non-alcoholic ready-to drink beverage categories at every point of sale. They sponsor significant sporting, cultural and community activities across all countries. They seek to integrate consumer marketing and sponsorship activities with retail promotions. In conjunction with the global sponsorship of the Olympic Games by The Coca-Cola Company, which dates back to 1928, they engage in a range of promotions. The Coca-Cola Company’s association with international sporting events such as the Olympics, the Football European Cup and the Football World Cup also enables them to realize significant benefits from the unique marketing opportunities of some of the largest and most prestigious sporting events in the world. PERPETUAL INNOVATION Joe Tripodi, Chief Marketing and Commercial Officer of The Coca-Cola Company laid out his company approach to brand reinvention and the strategy it adopted to winning over â€Å"Millennials†, those crucial consumers born between the early 1980s and the early 2000s. Millennials are digital natives, having been born into a world dominated by the Internet. According to Tripodi, â€Å"They expect unlimited choice, personalized and delivered through multiple channels at maximum speed.† Millennials are striving to change their world to align with a new set of values. In this new world order the spark of an idea can ignite a flame across an entire region in seconds, thanks to modern technology. The individual has incredible power to sway opinion, start a movement, and even topple governments. The key to any brand staying relevant  is to constantly innovate and evolve by being nimble and progressive, and to share the same values that Millennials respect. There are 5 specific areas where Coke is focusing on innovation: Packaging, Partnerships, Products Equipment, Consumer Provocations, and Cultural Leadership. Innovation at Coca-Cola means that good ideas and best practices can be scaled globally and can travel. This is not easy in a huge multinational corporation, with a market cap of $175 billion, but it is possible. Creativity, asserts Tripodi, is essential to drive innovation, as is courage, risk taking, and reinvention. This is not limited just to how Coke goes to market. It means having to reinvent the company and the way it’s it is structured and networked internally and externally. â€Å"It is our ability to adapt, to participate in, and even lead in culture, that will allow us to achieve our business goals†, he says. And those business goals are extraordinarily ambitious. Coke’s goal, known as its 2020 Vision, is to double its business by the end of the decade or, in other words, to double what it took 125 years to create! 1. Packaging For Coke, packaging has been a defining aspect of its essence and a key part of its engagement strategy. The contour-shaped Coca-Cola bottle will be 100 years old in 2015. Its shape is iconic, and totally synonymous with the brand. Coke has experimented, and had success, with a variety of packaging innovations over the years, but when sales and brand equity suddenly declined in Australia a couple of years ago, Coke needed to find relevance with Millennials. The solution was an ingenious, if risky, packaging idea: Customizable packaging by replacing the â€Å"Coke† branding with Australia’s most popular Teen first names. Instead of a â€Å"Coke† you could order and drink a â€Å"Mike†, â€Å"Dave† or â€Å"Suzy.† This was hugely successful Down Under: Sales spiked, with an incredible amount of social media impressions and expressions. Customized packaging has now been activated in 30 countries so far. In Japan, where customizing packaging by names could not be done, Coke found another ingenious way to deliver the idea. It partnered with Sony so its customers could download free songs that were tied to their birth year. 2. Partnerships Coke looks at its partners as co-creators of its Portfolio of Innovation. It  dynamically manages the partnerships as assets and Tripodi emphatically states, â€Å"We’re better and stronger with the capabilities of our partners.† 3. Products equipment Critical to Coke’s future is keeping its pipeline full. This past year it introduced over 500 new beverage products around the world. One exciting innovation is the FreeStyle machine, a new generation of fountain dispenser. Offering over 100 products, it enables any kind of flavor mix, creating new and unique flavor combinations. It’s a big shift: out of manufacturing and into equipment innovation to enable consumer co-creation and customization. The individualized consumer experience with the products is a key Millennial expectation. A new mobile app lets consumers save all their blends, so any Freestyle machine will know their favorite flavor combo. Data based on user feedback on the Freestyle, combined with technical monitoring which provides Coke with insight on product, consumer engagement and new dispenser opportunities. It is real-time consumer co-creation with the potential to develop completely new markets for the company. 4. Consumer provocations Part of Coke’s engagement strategy, he explains, is to move away from being a brand that promotes happiness, to a brand that provokes happiness. The heart of Coke’s engagement program is social platforms that provokes experiences through stories that are sufficiently powerful and share worthy to fuel conversations with many. 5. Cultural leadership As the most recognized brand in the world, it is a known fact that Coke has a position in the global cultural consciousness. To stay relevant in a marketplace that is being reordered by Millennials, it has to engage itself in active conversations with this generation. And sometimes those conversations can be awkward, but they are important to take on. Like, for example, the subject of obesity. To that end, Coke has developed what they have termed a 360 degree Engagement Plan, that includes low and no calorie beverages, transparent nutrition information, inspiring well-being and encouraging people to get active and moving by supporting physical activity programs, together with a commitment of not advertising to children under the age of 12. The manager warns that marketers should not be seduced by  technology alone. Without creativity, a strong story, one can’t make a strong connection. Using all of the tools of innovation and storytelling gives Coke the opportunity to spread their brand of happiness around the world and stay relevant. MARKETING MIX Segmentation Market segmentation is the process of portioning market into groups of potential customers with similar needs and/or characteristics who are likely to exhibit similar purchase behavior. Objective of such a process is to analyze and understand market, identify opportunities and use or develop competitive edge to capitalize on those opportunities. The Coca Cola Company segments the customers based on the following criteria: Geographic segmentation: Coca Cola has segmented the worldwide market on the basis of geographies. There are various divisions created for major regions of the world and heads of each division report to the parent company. Lot of autonomy is given to each division to run the operations. Place of consumption: Coca Cola segments the market on the basis of the place of consumption of the beverage. Most of consumption takes place on premises such as bars, restaurants, cinemas etc, while the rest takes place in homes. Product type: Coca Cola segments the market on the basis of the type of products bought by customers. The market is divided into Cola products and non cola products. Cola products currently provide majority of the revenues, but the proportion of non cola products is increasing. Demographics: The segmentation is done on the basis of age, as well as income. Targeting Coca Cola targets different segments with different ads. Primary market is represented by young people, aged between 12 and 25 years old, with people from 25-40 comprising the secondary market. Cola products are targeted towards people who want strong flavor, while Diet Coke and its variants are targeted towards the sub segment that is health conscious. The health conscious segment of the market is targeted also by the non cola beverages. Some of the products, such as Sprite, specifically target teens and college students, while others, such as Limca, target young working population. Positioning Coca Cola positions its products as refreshing and thirst quenching. The products are said to bring joy: Open Happiness. The products are associated with having a good time with friends and family and enjoying everyday life. They are also marketed as consistent and of high quality. ROMANIAN MARKET Coca-Cola HBC Romania is the biggest company in the non-alcoholic beverage industry in the country and is a franchised bottler of The Coca-Cola Company. Coca-Cola HBC Romania (410 billion Euro turnover in 2013) started operations in Romania in 1991 and now it employs 1,700 people. They operate three bottling plants across the country and channel products through 14 warehouses and distribution centers. The product portfolio consists of: leading brands Coca-Cola, Fanta and Sprite local brands such as the natural mineral waters: Dorna, Dorna Izvorul Alb, Poiana Negri brands licensed by other companies, such as Nestea and Illy. ADVERTISING Share a Coca-Cola campaign For the 1st time in brand’s history, Coca-Cola offered its logo to its consumers and told them to surprise the loved ones offering them a Coca-Cola bottle with their own name on it. The campaign was firstly launched in Australia in 2011 with the purpose to bring back the consumers` interest. The result was a 7% increase in the consumption among young people. From that moment on, the campaign expanded in more than 80 countries. The idea proved to be very successful on the Romanian market too, where it was launched in 2013. Andrei, Ana or Maria had their own Coca-Cola bottles because during that period, the most popular 150 Romanian names replaced the known brand logo. Also, Coca-Cola let its consumers share with friends also, with â€Å"Share a Coca-Cola with a gamer† or â€Å"Share a Coca-Cola with a biker†. The cans and bottles of Coca-Cola also included a series of other words used to define someone like â€Å"lover†, â€Å"your half†, â€Å"the sexy girl†, â€Å"VIP†, â€Å"Diva†, ‘Star† and so on. Say it with a song campaign The idea of having your bottle personalized was continued in 2014 through music. During summer, the Coca-Cola logo was accompanied by the lyrics of  famous songs. Besides lyrics, the bottles had on their labels a QR code, which could be scanned, allowing the consumers to listen to a fragment of the chosen song, before sending it to friends. Moreover, the initiative encompassed a smartphone application through which the consumers could make new friends by identifying people with the same musical preferences in their proximity. Banner Duet Campaign Launched in July 2013, Coca-Cola Banner Duet Campaign is one of the most innovative digital campaigns of last year: the campaign offered users the opportunity to record a personalized digital duet with Adi Despot, the famous lead singer of „Vita de Vie† rock band. In banners across the web, the musician invited the users to call him using their phones. Once they call the number shown, the banner recognizes the call, Adi answered and offered to sing the famous song Praf de Stele together in a duet with him. Adi sang in the banner and the users used their phone as the microphone, and all the singing voices were recorded as a personal duet with him. Besides being part of a unique experience, the users had the chance to win tickets to one of the most important music events in Romania BESTFEST and a meet and greet with the artist. In the 2nd stage of the campaign, all the participates that recorded duets with Adi, were rewarded for the effort: Best voices got a personal YouTube video of their duets On MTV, voices of the recorded users were integrated in the official clip of Praf de Stele At B`ESTFEST, Adi Despot shared the stage with all the voices recorded, and played them as his chorus connecting his fans from digital to the ones from the event. Let`s eat together campaign (2013) The beverage brand combined live tweets with pre-recorded spots in an effort to help people rediscover the happiness of eating meals together. In fact, a whopping 60% of Romanians do not eat meals together, instead opting to live a solitary culinary life in front of their TV sets. Coca-Cola Romania enlisted MRM Worldwide to help Romanians rediscover the happiness of sharing a meal together, of course in hope of associating it with a Coke. They ran a typical ad showing family and friends coming together with the help of  Coca-Cola. However, unlike any other spot ever created, this one integrated live tweets on national television. At the bottom of the ad, there was a text bar that hosted tweets from fans featuring the hashtag #LetsEatTogether. MRM live-edited the tweets as they flowed in and chose up to seven tweets to show each time the ad was played. Most of the tweets were addressed to specific people, with friends inviting friends to have a meal together and enjoy each other’s company. As a result, Coke’s Twitter base in Romania increased 15% and the ad garnered over 1 million social media impressions. Placing live Twitter mentions into a pre-recorded ad presents an incredibly innovative way to combine traditional advertising formats with today’s social media, and proves that you can really invite someone over for a meal through your TV. Radar for good App Campaign (2014) As part of the Crazy for Good initiative, a global project dedicated to people doing good for random strangers, Coca-Cola Romania via MRM Bucharest created Radar For Good, the first mobile platform for close range volunteering, to support the people who want to do good in the society right now. The app shows you where, near you, you can do something good at the moment. This is a good use of locational data for a specific cause. A spokesperson at McCann lets us know: The campaign generated much buzz in Romania, converted over 21.000 volunteers. Also, over 130 NGOs enrolled their causes in â€Å"Radar for Good† and reported an increase in volunteering numbers to up to 50%. CORPORATE SOCIAL RESPONSABILITY Improving water efficiency In their bottling plants, they closely monitor water sources, minimizing the amount of water they withdraw. By incorporating water saving technologies in their production lines, they have managed to improve the efficiency with which they use water. For example, in Romania two new technologies have been implemented in recent years: †¢ dry lubrication technology eliminates substantial water consumption as gel instead of water moves the beverages along the conveyors on their PET production lines †¢ ionized air technology washes PET bottles, instead of water. Working in partnership â€Å"The Green Danube† is their most longstanding partnership. Together with the  International Commission for the Protection of the Danube River, they conduct conservation and awareness-raising activities in Romania and nine other countries lying in the river basin. These include annual Danube Day celebrations, which see the participation of tens/hundreds of thousands of people. In 2008 and 2009, â€Å"Tasuleasa Social† and â€Å"Mai Mult Verde† organizations conducted a large-scale reforestation event in Vatra Dornei and a cleanup of the Siret riverbanks from Vatra Dornei to Galati, including nine cities. At the same time, 200 children from 65 high schools in the area participated in multiple training sessions on volunteering and civic responsibility, leadership, project management, survival skills and first aid. 250 training hours were made possible thanks to volunteer specialists and public figures such as Marcel Iures, Ada Milea and Catalin Stefanescu. SMURD, Romania’s Mobile Emergency Service for Resuscitation and Extrication, joined the program and offered first aid and survival trainings, alongside the volunteers at the Siret river banks clean up. An additional 2,500 teens participated. As part of the â€Å"Adopt a river from its spring to its mouth† (Golden Award at European CSR Awards 2013), water protection and conservation platform, they set up a â€Å"Water Educational Center† in one of their former plants in Dorna Candrenilor. Here local teenagers can learn about biodiversity, pollution and ways to address it, responsible tourism, best practices in volunteering. The project was carried out in partnership with the Romanian Ministry of Environment and Forests, Calimani National Park and Tasuleasa Social organization. At the center and through a series of other educational and ecological campaigns developed over time in Dorna Candrenilor, they are contributing to the long-term protection and conservation of natural riches and water resources in the area where their mineral waters spring. The results of the â€Å"Adopt a river from its spring to its mouth† integrated program, from north of the country, where they bottle the mineral waters to the Danube Delta are: 32,500 trees planted, 70 tonnes of waste collected, 2.5 million euros accessed by local authorities for sewage system and filtering stations for Dorna inhabitants, adopting a law for forbidding the industrial fishing, adopting the urbanism plan in Danube Delta. Energy and climate protection They are accelerating their efforts in the parts of the business that use the most energy: the bottling plants, fleet and cold drink equipment. In bottling plants, they are building combined heat and power units. They are also expanding energy-savings programs. In their fleet, they are exploring and expanding the use of hybrid vehicles and alternative fuels. They are also changing driver behavior with the Safe and Eco-Driving program. Their new energy-efficient cold drink equipment emits up 50% less CO2 emissions than 2004. Packaging and recycling They are working to reduce the environmental impacts of their packaging at every stage of its lifecycle. The integrated approach includes: Reducing the amount of packaging they use Increasing recycled content Promoting recycling and recovery Sport and physical activity Approximately 1,900 people actively participate in their sports and fitness activities each year: The Red Bike contest and tour. Promoting the Active Lifestyle principles is one of the many ways Coca-Cola HBC in Romania brings together its two major commitments: towards people and towards the environment. â€Å"Go green with the Red Bike!† was an event whose concept was launched by Coca-Cola HBC Romania and Green Revolution under the patronage of Bucharest City Hall and the Romanian Cycling Federation. The main objective of this program is to encourage Bucharest’s citizens to adopt a healthy lifestyle. For the second consecutive year, over 1,200 Bucharest citizens have gathered in Izvor Park to take part in the biggest cycling tour for amateurs, the â€Å"Red Bike†. CONCLUSIONS Coca-Cola†¦More than a Product? In fact, it’s not just about the product any more. It’s about stories, memories, associations, and human connections (although of course, these connections would have been very carefully and deliberately engineered by talented marketers over many years and countless board meetings). This is something that Coca-Cola have been the masters of for over 100 years. Even if you duplicated the entire Coca-Cola production process and produced a drink that tastes identical, (or better for that matter!), you could not duplicate the memories people have of the brand, and therefore their connection to it. The secret recipe of Coca-Cola may no longer be secret. It may not even be unique any more. But the memories associated with the brand are, and that is what makes the brand so much more valuable than other colas. Tangible and intangible assets combine to create financial brand equity. This equity is derived from people’s willingness to pay a premium for the brand and an unwillingness to accept substitutes. Like the Tiffany bracelet, people would rather pay more for the recognized brand due to the (deliberately engineered) feelings and identity they associate with it, which have been nurtured by the company over many years. Coca-Cola’s marketing strategy has always been to associate happiness, positivity and the good life with their products, from 1906’s rather officious and puritanical ‘The National Temperance Beverage’ slogan, to 1971’s slightly more idealistic ‘I’d like to buy the world a Coke’, which despite not actually being the official slogan, became so successful that it’s still remembered fondly to this day. Their secret is the focus on: stories, memories, connections, events, positive associations, positive experiences. Without these, a brand will forever remain just one of many options. Coca-Cola have a history of fascinating the public with their marketing campaigns. Except Coca Cola don’t call marketing campaigns ‘marketing campaigns’, rather a â€Å"system wide collaborative effort to engage with consumers in a meaningful and effective way†. An example of this attempt to increase the romantic associations with the brand is the recent ‘Share a Coke’ campaign. This was an attempt to create positive connections between people with Coke at the center that according to their figures created an increase in volume of sales, household penetration and brand love scores. Having such a dominant brand that it eclipses any other in general conversation and becomes synonymous with that particular product provides the strongest possible competitive advantage and is the holy grail of brand equity.

Look Before You Leap Essay Example for Free

Look Before You Leap Essay Tapiwa had served his employer faithfully for fifteen years. He had joined the company at the age of twenty and thrived to excel in every task that was given to him. The company rewarded him handsomely. He managed to get married to Tafadzwa after working for five years, and they had two beautiful children. The family enjoyed life since they could afford the very basics. Tapiwa drove to work while Tafadzwa stayed at home and took care of the household chores. The economy of the beautiful country of Zimbabwe began to nosedive and inflation reached its peak. Everyone felt the pinch of the inflation and Tapiwa was no exception. He switched to using public transport as driving was now a preserve of the rich. He would wake up as early as 4AM and get his kids to school. This routine became unbearable because he had to collect them from school into town and assist them to get home. He would get back to work after lunch . He started having problems with his superior’s . Although they understood his predicament they could not justify his lateness to work. Frustration began to creep into his mind and he began to lose weight. He felt he could not continue and decided to resign from his job. He sought for his father’s advice who advised him to wait a bit longer as he had hope that the economy would soon recover . After a long argument, his father gave in and asked him to go ahead with his plans. He asked for a second opinion from his immediate superior at work. He was advised not to quit but wait a little longer. But, Tapiwa had already made up his mind . He tendered in his resignation notice which was accepted with reservations. He was told his termination benefits would be processed within three months as this was company policy. Tapiwa left for South Africa where he hoped to get employed as a chemist. When he got there he discoved that life not as easy as he had expected. Getting a job in his area of training was proving to be a big challenge. He hopped from company to company and from pillar to post seeking for employment as a chemist, but the result was the same, negative. He eventually decided to get employment as a general hand. Working as a general laborer was not easy for Tapiwa. Frustration continued to grow within him. Many times he would curse the leaders of his country saying they were responsible for his problems. In many instances Tapiwa would go to sleep on an empty stomach. When he phoned his wife back home she would be complaining of hunger and how bad things were . It pained him more because the company he was now working for did not honor its part of the contract. After working for six months, he was paid the equivalent of three months’salary. The reason that his employer gave was company was reeling under the effects of the global economic meltdown. Tapiwa began to lose weight and his face could be mistaken for a patient. One day he decided to call his former employer back home. He was trying to negotiate for re-engagement. He was told it was told no longer possible because his position had already been filled . It pained him more to learn that people at the company were now earning foreign currency. After the call, Tapiwa took a walk and could be seen talking by himself. Tears rolled down his cheeks and he wept bitterly. He regretted why he ever made a decision of leaving his job for greener pastures which he discovered they were not green after all. He blamed no one but himself for putting his family into deep problems. He thought he should have taken a few days’ leave for a feasibility study. Memories of how he had enjoyed life before the hyperinflationary economy hurt him. Comparing his present style of living in South Africa to the life back home haunted his mind even worse. Given a choice between the two he would choose to stay at home with his family. Every time he would sit to meditate, he could not help but recall his father telling him not to quit his job, but to wait for a while. The discussion he had a year ago with his immediate superior at his former employment, vividly played before him. He regretted he should have taken their advice . He had learnt that in life you do not make rash decisions when it comes to important matters. His tummy made a noise indicating to him it was time for refueling. It had been a while since he had a decent meal. He had learned it the harder way.

Situation Analysis For The Nestle Corporation Marketing Essay

Situation Analysis For The Nestle Corporation Marketing Essay In this report itll help to understand the concept and process of marketing, how to use the segmentation, targeting and positioning and understand the individual elements of the extended marketing mix and how to use marketing mix in different contexts. In learning outcome 01, were introducing a new product to the market. In that student is expected to understand and apply marketing planning process to launch the new product. And in this task student must do a presentation to launch the new product to the market. In learning outcome 02, student must do a situation analysis for the organization selected and select target market for the new product and propose a positioning strategy for the new product. In learning outcome 03 students is able to design and recommend the appropriate marketing mix for the new product and in that student is able to design product features, pricing the product, and explain the channels of distributing for the new product. And finally in learning outcome 04 students must discuss the alternative segments to the product and suggest possible market growth options t o the new product. Introduction This report is about the concepts and principles in marketing process. We can use this marketing concepts and principles to introduce a new product to the market. By introducing a new product to the market, organization is able to using the planning process to launch th new product. In this report Nestle Corporation is introducing a new healthy milk powder to the market and they were doing situation analysis to the organization and positioning strategy to the product. Nestle corporation is design good product features, brand name, new distributing ways and pricing the product. Finally they doing some market growth to the product using Ansoffs Matrix. By reading this report reader can have a clear knowledge about marketing concepts and how to use these concepts to a new product. L01 Launching New Product To The Market. L02 Situation Analysis For the Nestle Corporation Marketing Environment The marketing environment surrounds and impacts upon the organization. Internal Environment The Micro Environment The Macro Environment. The Micro Environment Competitors Employees Pressure groups Intermediaries Micro Environment Local residence Customers Financiers Suppliers Owners The Macro Environment SWOT Analysis (http://www.scribd.com/doc/30768475/Swot-analysis-Nestle-Company, 2012) Strengths:- Brand strengths Nestle has very strong brand name and its easy to distribute among the customers. Production innovation The Company has been continuously introducing new products to the market. Research and Development Nestle has worldwide networks of centers 17 locations in four continents. An international staff of 3500 engaged in search for innovative new products and remotivate exist ones. Market Share High level of market share and that people all over the world trust and recognize Nestle as a big brand name. Low Cost They are low cost operators which allow them to not only to beat competition but also edging ahead operating excellence, innovation, renovation, product availability and communication is major strengths. Weakness:- Mature market One major weakness in Nestle is that it is entering into markets that are already major and can give a tough competition to new entrance. Exports Supply Chain The Company has a complex supply chain management. Opportunities:- Expansion potential to expand smaller towns and other smaller geographies, which is parents are famed for like breakfast cereals, smarties chocolates, carnation, etc. Product offering the company has the option to expand its product folio by introducing more products. Global hub since manufacturing some products is cheaper in ASIA than in any other continent. Threats:- Competition Competition from the organized and unorganized sectors. Changing consumer trends increase consumer spending on consumer durable resulting in lower spending on FMCG products. ( fast moving consumer goods ). International marketing standards Sectoral woes rising prices of raw material and fuels and increasing packaging and manufacturing costs. PEST Analysis for Nestle Corporation It is very important that an organization consider its environment before beginning the marketing process. Political Environment:- Nestle is a good political partner in politics. They were donating money for the president candidates in presidential election. Nestle corporation support many programmers and projects essential services and social services. Ex: supporting the tackling the world water crisis project. The government increasing the prices of essential goods and itll affect to the organization and the new product. By the time government change and the policies also get changed, itll affect to the customers behavior and to the company also. Economic environment:- Nestle corporation is a strong brand among the consumers and having a good business cycle in the market. Increasing of interest rate will affect to the customer behavior and itll affect to the company. Income distribution affect to the organization because when income distribution doesnt happened equally customer behavior get changed. The crisis of the world economic prices affect to the country and itll affect to the customers and to the organization. The plentiful in Social Environment:- Family background and their culture will cause to their behavior in buying products, and itll cause to the organization. Customers education level also affect to the organization, because if they dont understand about the product well, they never going to buy it. Customers beliefs, culture, and religion will cause to what they going to buy? Because it get changed customer by customer. The trend of the society will affect on customers behavior, and itll affect to the organization. Technology Environment:- Organization can incorporate the latest technology to their operations. Organization architecture and design has been the evolution of the information technology. The use of technology can build good relationship with suppliers and customers. Technology will cause to increase of the organization and they can improve their sales. Segmentation Criteria Market segmentation is the division of a market into different homogenous groups of customers. Market segmentation is depending on the specific characteristics of the product. These criteria can be divided by such as age and gender, or other distinction such as location and income. Segmenting Consumer Market for Nestle For the newly introduced Strawberry Flavor Sustagen in Nestle corporation, our company using the demographic criteria for the segmentation. Demographic segmentation consist of dividing the market into groups based on such as age, gender, family size, income, occupation, education, religion, race and nationality. In here Nestle corporation use age, gender and income as the demographic criterias for the Strawberry Flavor Sustagen. This product is a low-fat milk powder. Our company targeting the young adults and adults as the target market for the Strawberry Flavor Sustagen, because young adults and adults are using Sustagen mostly in the market and this product is a low-fat milk powder. Strawberry Flavor Sustagen can use both males and females. And Nestle Corporation targeting the consumers below 8000 income, because this product will not highly cost. In this case many customers will attract to this new innovative Strawberry Flavor Sustagen. Positioning Strategy Positioning is a concept in marketing which firstly introduced by Jack Trout. A company, a product or a brand must have positioning concept in order to survive in the market. If you dont position your business your competitor will not let you to survive in the Market. Nestlà © Corporation is chosen the Product Positioning as the Positioning Strategy for the New Strawberry Flavor Sustagen. In the market, there is various kind of healthy milk powder brands that compete with the Strawberry Flavor Sustagen, but nestle will survive as always in the market because Nestle is a good, strong brand name in the market. In this newly introduce product therere various dimensions. This Sustagen is highly possessed of good qualities and its really good for the health and itll helpful for reduce the fat. Most of diabetics patients are young adults and adults, because of that we target the young adults and the adults to the new product. Nestle corporation is going to introduce this product to the supermarkets and were give a free chance to our customers to have an experience with our newly introduced product. By this we can attract more customers to our product. Our company going to introduce this new product to the people in rural area also. Because theres plenty of people in rural areas that have the capability to buy this kind of a product. L03 Design and Recommend the Marketing Mix What is a product? Product is anything that is capable for satisfying customer needs. Features are characteristics of a product that offer benefits to the customerà ¢Ã¢â€š ¬Ã‚ ¦. Product Features and Developing the Brand Name Nestle Corporation introduced The Strawberry Flavor Sustagen is not like normal old type of Sustagen. Its fully tasted with strawberry flavor and extra with mint. Sustagen is a world famous milk powder, which has customers all around the world. People all around the world know about the Sustagen and they tasted Sustagen. as a product its really easy to develop because it has a strong brand name. Nestle Corporation introduced this Strawberry Flavor Sustagen is the new member in Sustagen family and Its tasted with strawberry and mint. And nestle corporation is expect to attract many customers to this New Strawberry Flavor Sustagen. Nestle Corporation is developing the new product features to attract more customers to the product. Strawberry Sustagen is a healthy milk powder that helps to keep our body healthy and get nutrition for the day. In this product it includes vitamins that we need to our body for been healthy and keeps nutrition and alternative medicines. Its fully tasted with strawberry flavor. Nestle corporation is decided to include more taste of milk and mint flavor to give a good taste to the customers. And also this product has attractive color that everyone like and with a nice mint smell. Distribute the New Product to the Market When an organization going to introduce a new product to the market, they must know how to distribute the new product to customers. And most important thing is organization must know how to hold the product in customers hand. As the distribution concepts, Nestle Corporation is using Consumer Market concept. First of all our marketing team is planning to distribute this product to Supermarkets in municipal and rural areas. Because middle level customers are coming to supermarkets. Our target market is middle level class customers. As municipal areas, there are some middle level class customers in rural areas that can buy these types of products. So our company chooses supermarkets to launch our new products and distribute through the supermarkets. Pricing the New Product Price is the amount of money or goods for which a thing is bought or sold. The way you set the price to your product, will help to stay in the market or itll cause to leave the market. For a pricing method for our new product, Nestle Corporation choose the customer-based pricing. There are two factors that affecting for pricing decisions. They are internal factors and external factors. Internal factors Rs, Market share 100 Maximum profit 150 Marketing strategy 80 Costs 90 External factors Customer and channel Partner expectation 70 Competitive and Related products 90 Government Regulation 20 Final price Rs, 600 This is the best price that our company can charge from the customers, because if our company charge high cost itll cost to have a production lost in the market. So this our company guessed this price is fair and attractive. Nestle Corporation expecting that this product will attract many customers. Promote the new product Nestle Corporation is expecting to launch our new product to the supermarkets and distribute through them to the customers. Before that our company is going to promote this new product to customers well. For that our company chooses new promotion tips. Our first aim is give the main idea to customers that this new product is strawberry flavor and its good for the health. Targeting that first our company is going to made-up a curiosity in customers mind. For that, our company creates a strawberry arch in the entrance to the supermarkets, and when customers come inside to the supermarket, in the front some people with strawberry dresses to give the main idea to customers. After that we give some leaflets to customers by introducing the new product and our marketing team is ready to inform about the product and its benefits. Finally were going to give a chance to our customers to taste our new product. Were 100% sure that our customers will like our new Strawberry Favor Sustagen and the yll surely use this for their day today life. L04 Market Development (http://tutor2u.net/business/strategy/ansoff_matrix.htm) After our new product enters to the market we must know how to keep our sales in a good level and how to develop the product in the market. Nestle Corporation is using the Ansoffs matrix as the market growth option to develop the product. The Ansoffs Growth Matrix is a tool that helps businesses decide their product and market growth strategy. Ansoffs market/product growth matrix suggest that a business attempts to grow depend on whether it markets new or existing products in new or existing market. The output from the Ansoffs matrix a series of suggested growth strategies that set the direction for the business strategy. Market penetration. Market development. Product development. Diversification. Our corporation suggests Market Penetration and Marker Development as market growth options for the new product. Market Penetration is a name given to a growth strategy where the businesses focus on selling existing products into existing market. Market penetration is to achieve another four more objectives. Maintain or increase the market share of current product. Secure dominance of growth market. Restructure a mature market by driving out competitors. Increase usage by existing customers. Market Development is the name given to a growth strategy where the business seeks to sell its existing products into new markets. There are many ways to use this strategy. New geographical markets. New distributing channels. New product dimension or packaging. Different pricing policies for attracts new customers or new markets. Using Ansoffs Matrix our company is going to do some changes in our new product. Our company is hoping to increase the market by selling our new products in the rural areas in the country. Nestle corporation is going to introduce 500g Strawberry Sustagen packets to groceries in municipal and rural areas in the country. Our marketing team is hoping to maintain and develop the market share. And our team is going to do some advertising programmers to develop our product. In that were hope to 5% discount if our customers buy two Strawberry Sustagen. Nestle Corporation is going to introduce this new product in to the International Market. Our marketing team is planning to export this New Strawberry Sustagen country like India, Pakistan and Bangladesh. And also were going to use new distributing channels to distribute our new product. Our team uses more agents to distribute the product in towns and by door by door. Theyre fully informed about the product and they always ready to give an instruction about the product. Conclusion In this report we can understand about the various elements of the marketing process and the benefits and costs of a marketing orientation for a selected organization. Understand the micro and macro environmental factors, segmentation criteria, targeting strategy and positioning to the new product. Also how to develop the product features, brand name and how to set a good price for the customers. How to distribute the product to the customers and promote the product to the customers. In this report can have a good knowledge of marketing mixes in different contexts. When doing this report we can have good knowledge about the market and the behavior about the market.