Typewriters Vs Computers Essay Research Paper TYPEWRITERS free essay sample

Typewriters Vs. Computers Essay, Research Paper Typewriters: AN ENDANGERED SPECIES? For good over a decennary, experts in office mechanization have predicted the death of the typewriter. In their position the computing machine is destined to tale over the word processing function enjoyed by the typewriter for over a century. Yet, a recent study ( Fernberg, 1989, 49-50 ) indicates that electronic typewriter cargos over the last three old ages averaged about a billion dollars a twelvemonth. Further, the Computer and Business Equipment Manufacturers # 8217 ; Association undertakings that the one-year growing rate will stay changeless at 1.5 per centum over the following five old ages. With gross revenues keeping steady at over a million units a twelvemonth, the electronic typewriter does non look endangered. It is likely here to stay-and for good grounds. Typewriter Familiarity Virtually anyone who has learned to identify can sit down at the electronic typewriter and within a few proceedingss operate it with astonishing easiness and velocity. We will write a custom essay sample on Typewriters Vs Computers Essay Research Paper TYPEWRITERS or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Harmonizing to Paez ( 1985, 55 ) : A familiar keyboard, which requires fewer key strokes and has a simpler, less code-intensive user interface, makes the Transition to a high-end typewriter much easier than the Passage to a personal computing machine with the same maps. Typewriter Flexibility An electronic typewriter can execute some maps computing machines can non, but a personal computing machine ( Personal computer ) can non be used a mere typewriter ( nor should it be ) . Possibly that is why one big study found that 85 % of secretaries who use PC # 8217 ; s besides use typewrite R. Using microchip engineering, sophisticated electronic typewriters can execute many of the automatic maps and redacting maps of which computing machines are capable. Automatic maps. Among the characteristics of electronic typewriters are automatic focus, right border justifying, and hang-indenting/ these characteristics are available on computing machines every bit good, but some users of both sorts of equipment say that the typewriter is more â€Å"user friendly.† Editing Functions. Some electronic typewriters permit operators to backspace/delete, insert transcript, move transcript from one topographic point to another, and hunt and replace specific words or footings in a papers. Some are equipped with templets that make form fill-in easy ; others permit the meeting of information from different beginnings. All these maps are performed without rekeying paperss. Typewriter Sophistication Electronic typewriters range from low-end machines with full-page shows, floppy storage, and complete text-editing capablenesss. The monetary value scope varies with the sum of advanced characteristics included. Some machines are upgradable so that the appropriate degree of edification can be obtained without replacing machines. Audion, Mark. # 8220 ; Using Electronic Typewriters: the Basics, Plus? . # 8221 ; Today # 8217 ; s Office, July 1986, 55-64. Fernberg, Patricia M. # 8220 ; Electronic Typewriters: Understanding the Product. # 8221 ; Modern Office Technology, March 1989, 48-50. Paez, Patricia. # 8220 ; Typewriters: Technology with an Easy Touch. # 8221 ; Today # 8217 ; s Office, September 1985, 55-72.

Creditor Rights in Sovereign Debt Markets Essays

Creditor Rights in Sovereign Debt Markets Essays Creditor Rights in Sovereign Debt Markets Essay Creditor Rights in Sovereign Debt Markets Essay Globally, governments are increasingly defaulting on their debt obligations with the most recent example being Argentina, Greece, Russia and a host of East Asian economies. The situation has elicited mixed reactions in international markets and bilateral institutions such as the International Monetary Fund and the World Bank, which have proposed aggregate collective action clauses that protect the investors interests (Broner et al. 2013). According to Noy (2008 p.64-78), without creditors, international financial markets cannot exist; therefore, investors must have meaningful ways to recoup back their investments in case of sovereign default. However, information access is considered key towards making informed investment decisions; thus, close cooperation between sovereign borrowers and creditors is critical. During a default, a countrys financial reputation is questionable, and oversight agencies such as the International Monetary Fund, World Bank, and Iconic agencies such as Moody rating often raise the red flag when dealing with defaulting nations (Diaz-Cassou and Erce 2011, p.14-18). Such defaulting economies suffer economic consequences, including restrictions on accessing financial markets, trade embargo, and tightening of the fiscal deficit in their home countries. These restrictions are implemented because the sovereign creditors, just like ordinary investors, have their rights in the sovereign debt markets. It is in light of this fact that the paper will focus on creditor rights in the sovereign debt markets, the potential costs of sovereign default for a country and the magnitude of the costs likely to be incurred should a country default its sovereign debt obligations. How Economies default their Sovereign Debts Since the advent of the global financial markets, sovereign debts have been considered the safest investment type due to their risk-free nature coupled with their potential for high returns. However, in 2002, the market was shocked when Argentina announced it was unable to service its bond debt. A decade later, Greece restructured its sovereign debts. These two situations elicited mixed market reactions, raising the question, if the two governments completely defaulted, how could investors recover their invested assets? This is because government-issued bonds are considered risk-free and never accompanied by any form of collateral other than the governments guarantee to service its debt (Manns 2015, p.118-152). During the worlds financial meltdown, major economies were pushed into a deep recession because the countries experienced low growth and huge budget deficits, leading to a sharp rise in debt-GDP ratio. Previously, in such scenarios, countries absorbed their debts by utilizing different approaches. By late 2009, the average spreads were still minimal, and the allocation of sovereign hands in the domestic residents was below 50 percent in emerging economies such as Greece, Ireland, Italy, Portugal and Spain (GIIPS) (Ahmed 2016, p.4359; Rogers 2012, p.117-148). The situation deteriorated and economies such as Ireland, Spain, Greece and Argentina reported massive debt deficits than previously anticipated. These events not only slowed down the repayment of the debts, but also affected how different credit instruments were absorbed in the market. The same year, Greece defaulted on its IMF loan repayments, but surprisingly, the same government decided to settle a yen-denominated bond held by private entities fully. The situation was shocking since the IMF is the most authoritative lender and financier of last resort. According to Greeces move, IMF and other multilateral agencies are considered the de facto senior creditors; therefore, raising the question why first settle the yen-dominated debt. However, IMFs senior status as the principal economic lender is not enshrined anywhere legally (Waibel 2014, p.22-41). Creditors Rights in Sovereign Markets Aguilar and Zejan (1985, p.385-395) debated on the relative importance of distressed economies meeting their debt obligations. Key emerging economies such as Argentina, Greece and Bulgaria have underscored the importance of understanding the bargaining positions of their debt-riddled economies. According to Dowell-Jones (2014, p.51-85), the most fundamental question that remains unresolved is What can creditors do to reclaim back their assets if a sovereign nation does not fully ascribe to its debt obligations? Metz and Tudela (2011) continue to argue that sovereignty implies that no single agency globally can seize the assets of a foreign country. This discussion attempts to address the underlying issue using two approaches: Reputation Approach Direct Punishment Reputation Approach This principle works on a very direct premise because countries value the access to the international money market that facilitates smooth consumption in the face of volatile output or fluctuating investment opportunities (Longstaff et al., 2007). Countries are always trusted to issue timely loan repayments, hence do not wish to reprieve their status as good debtors. Considering reputational symmetry, there is no need for the creditors seeking arbitration or political sanctions; rather, investors should understand economies sovereign borrowing limits on external debts since the flow of repayments largely depend on a countrys fundamental computation of consumption spending (Arellano and Bai 2013). Therefore, should creditors extend so much to a country, an elastic limit may be reached whereby the country is unable to retain its debt repayment program. Investors must acknowledge that reputational approach comes with the undeniable feature of analyzing the countrys macroeconomic situati on instead of the murky institutional capacity to participate (Pepino 2015, p.73-95). Punishment Approach It is assumed that foreign creditors have no legal mandate whatsoever to repayment in debtor country courts (Stephanou 2013, p.127-158). However, these are other peoples assets because creditors accord investment rights in sovereign debt contracts, and any controversial government to an individual or government-to-government trade dispute can always be resolved by the international court of justice, affiliated to the IMF and the World Bank (Porte and Heins 2016, p.1-13). Creditors legal rights, if violated in certain cases, may interfere with a countrys business privileges such as imposing embargoes on the free movement of cargo within certain jurisdictions, a scenario that may interfere substantially with a countrys economy. Despite creditors rights, there is also the issue of seniority in the sovereign debt markets, and unlike the corporate debts, there are no legal rules of priority and seniority when it comes to the international debt market (Santiso 2009). Due to the lack of a harmonized standard in relation to a sovereign bankruptcy procedure, no single government can decide which creditor cluster to service their debts and the extent of the payment levels (Dam 2015). Seniority in debt repayments is considered an optional decision, thus not legally enforceable in a court of law. Conclusively, it can be argued that only credit-specific factors propel debt repayment patterns, and a nations economic fundamental cannot be used as a metric illustrating seniority in sovereign debt repayments. For instance, in 2005, Greece defaulted payment to the most senior creditor, the IMF, while serving its junior creditors such as the fund managers and other institutional investors. Factors Driving Sovereign Debt Default One of the key factors prevalent with sovereign default is the accumulation of vast reserves of foreign denominated debts from the market, making the economy unable to make timely payments due to factors such as tight budgets and lack of political goodwill. In such scenarios, sovereign investors find it difficult acquiring support from supranational courts or creditors rights enforcement agencies. According to Wright (2010, p.295315) and Schroeder 2015 p.73-104), when countries default on some of their treasury obligations, it means that the state is no longer willing to handle its debt liabilities or pay up the interest. Signs of sovereign debt defaults begin to emerge when an economy is associated with massive overspending or too much borrowing for approximately 8 to 10 years. However, there are always consequences for the creditors and, in most cases, international negotiations commence, which often end up in partial debt cancellation. Under such an arrangement, partial repayments are remitted while the investor surrenders a huge chunk of the debt. A perfect example is the Argentines economic crisis (1999-2002), whereby creditors unanimously agreed to relinquish 75 percent of the outstanding debt. In certain instances, the creditors may wait for a regime change to recoup their dues. Creditors rights are clearly spelled out in international law, and they not only entail the rights of creditors against the debtor, but also amongst other creditors. In cases where there is a default over several cases, the rules in favor of the creditors rights establish the particular creditor that holds the strongest right towards any particular relief, whether attaching state assets or seeking any other form of compensations if possible. Waibel (2013, p.209251) reiterates that to mitigate against default risks, contemporary economies have responded through issuing bonds in hard currencies via international financial institutions as transaction intermediaries, and as a result, courts have been established in New York, London and Tokyo to deal with cases of aggrieved creditors (Baldacci and Gupta 2011, p.251-263). To curb or control sovereignty credit defaults, the International Capital Market Association (ICMA), an entity legally mandated to oversee the international financial mar ket, has enacted a multilateral legal framework that regulates the sovereign debts restructuring process for the sake of enhancing predictability, stability, and efficiency in the international financial system (Erdem and Varli 2014, p.42-57). Consequences for the Economy If a country defaults its treasury obligations, it simply disposes of its monetary obligations towards creditors. The immediate effect under such a scenario is that the country benefits from an immediate reduction in its debt portfolio and the accompanying interests associated with such debts (Hu, An and Yang 2008). However, the countrys reputation is dented among multilateral creditors and other credit rating agencies (Doug 2014, p.14). This means that the country cannot easily participate in the international financial market because investors perceive the economy as high risk. In a different scenario, foreign lenders may jeopardize the countrys monetary sovereignty. Sovereign defaults also include constrained access to credit not only in international markets, but also domestically since the government of the day has lost its credibility amongst investors. Besides, the domestic financial institutions also hold significant amounts of domestic debts, and if a government defaults, th e situation may degenerate into bank runs and lead into a financial crisis since most investors find it difficult to cope up with broke governments. These effects have consequences to an economys Gross Domestic Product (GDP) because the country is faced with a higher borrowing cost due to its poor credit score (Kolb 2011, p.113). The situation may exacerbate if the creditors are domestic borrowers because the government must always visit financial markets to offset their operational expenses such as paying workers and suppliers. Such a situation may lead to a knock effect on the entire economy and completely paralyze operations (Christodoulakis 2006). Argentinas Case Study Argentina can be used as a perfect case on how a section of an economy may escalate the debt crisis. The country defaulted its sovereign debts in 2002 and the economys fiscal deficit and debt position deteriorated significantly. As a result, the interest rate spread increased dramatically from below 10 percent to almost 50 percentage points by the end of 2001 (Bruno 2009). The Argentine government responded by increasing reliance on local financial institutions, whereby the government debt as a percentage of the banking systems total assets rose from 15 percent in 2000 to 21 percent by the end of 2001 (Wei 2003, p.709-705). In this light, the banking sectors credit risks increased significantly. Besides, the voluntary debt exchanges that increased the maturity of the bonds also increased maturity mismatches on the institutions financial statements. Due to the weakening of the banking system, there were widespread panic withdrawals throughout 2001, whereby deposits fell by 20 percent by the year-end (Fliz 2010, p.52-72; Zutshi 2008). By early 2002, the Treasury confirmed that it was defaulting $18.8 billion of their external debt and concurrently announced it was ditching the currency exchange board regime. These series of events prompted the Peso, Argentines official currency, to fall from 1 peso per US dollar to 3.9 by the end of March 2002. As a result, the country was heavily indebted when the debt is converted into their local currency. The situation impaired the local financial institution systems that provide liquidity and credit to the economy, and the banks credit to the private sector as a proportion of annual GDP reduced by 50 percent from 20.8 percent in 2001 to 10.8 percent by the end of 2003. The scenario led to lessened economic activity, hence increasing the countrys fiscal burden compared to GDP. The banks non-performing loans also increased dramatically when the recession deepened. According to Horn and Fritsche (2012, p.118-126), Argentina had a sovereign debt more than $123.7 billion, which wa s not sustainable even with conservative estimates. Additionally, it is noteworthy that no financial valuation of the countrys export and import growth could deliver the requisite net long-run foreign exchange earnings adequate for servicing the debt, even if the countrys interest levels were to move back to pre-crisis level. The countrys trade deficit expanded and its currency got overvalued, trade liberalization stalled and the exports only comprised of an insignificant share of the countrys economic bedrock (Schaumberg 2014, p.135-154).

Personal Reflection Paper on The Self Essay Example | Topics and Well Written Essays - 750 words

Personal Reflection Paper on The Self - Essay Example My self-concept derives from a whole host of such factors, not the least of which is what others think about me. I have always had a great interest in music and I have a very good singing voice, which has made me popular with my friends: so I consider music and the capability of rendering it is an integral part of my self. The awareness of my gender has led me to see what women the world over go through in terms of greater struggles for freedom and rights. My self-concept thus wraps around my identity as a woman as someone who has to struggle with the everyday realities of being a woman, and also involves an acceptance of the fact that I have an average appearance. Add to that my identity as an African-American, and the picture is complete in a social context. People around me see me as a normal, well-adjusted, average-looking African-American woman and also as a student who sings well, and so it becomes an important definition of my self-concept in the social context. My concept of self contributes to my self-esteem, my idea of what I am worth, of what I am capable of contributing to the society, and the respect of choices and rights that I feel I deserve. My singing abilities and my accomplishments as a student provide a boost to my self-esteem, because they bring me recognition and applause in my community, especially in my church where I lead the choir. My self-esteem lets me perform well and gives me the confidence to move about in a social context, comfortable in the knowledge that I am likeable and welcome. I feel that my accomplishments more than make up for my lack of physical attractiveness, and it does not significantly detract from my sense of self-esteem. My self-esteem leads me to believe that I can make informed choices about my own life, and indeed have all rights to do so. In the social arena, my self-esteem helps me perform at a high level of self-efficacy. Based on my concept of self and self-esteem, I am able to form an estimate of how effective I am as a person. There is no hesitation in attempting a new challenge, because my sense of self-efficacy tells me that I am more than likely to succeed. In my point of view, my sense of self-efficacy increases if the challenges belong to my comfort zones, namely singing or academics, because it is very well accepted by those around me and myself that these are the areas I am easily able to excel in. This is the reason why I am comfortable taking part in community events which involve singing. One of my earliest and most significant memories is of being sent on stage by my mother to sing a small hymn at a church event. After my singing ended, there was loud and continued applause, and I could see the smiles of approval on the faces of all the people in the audience which included my parents, relatives, friends and neighbors. This gave my sense of self-esteem a major boost, and whenever I now feel nervous about going on stage, I recall that moment in my childhood when I first heard the applause of the people around me. It gives me a feeling of rise in self-confidence, and my concept of self-efficacy is restored: I do not feel nervous or panicky any more and am able to get on the stage and

Internet Addiction Article Example | Topics and Well Written Essays - 1000 words

Internet Addiction - Article Example Some of the effects include increased depression, loneliness, antisocial behaviors influence into drug use and anxiety, which are exhibited by internet-addicted persons. In addition, the article claims that internet usage has grave effects on the mind of users. The article suggests that the effects on the mind are negative since internet usage requires less utilization of the brain hence reduced brain development. The most important fact in this article is that internet addiction is harming the users. This can be deduced from the author’s argument that â€Å"The current incarnation of the Internet--portable, social, accelerated, and all-pervasive--may be making us not just dumber or lonelier but more depressed and anxious, prone to obsessive-compulsive and attention-deficit disorders, even outright psychotic. Our digitized minds can scan like those of drug addicts, and normal people are breaking down in sad and seemingly new ways.† One of the strengths of the article is that the author makes use of convincing evidence obtained from credible sources. Almost all the claims are supported by evidence from a published study. An extra strength is that the author rarely uses his own opinion to prove a claim. One of the weaknesses of the article is the lack of conclusion. The author puts forward several arguments on how availability and use of the internet have affected human beings but never come to a conclusion. Another weakness is the several unanswered questions that the author has posted. A good example is on what should be done on the issue of internet addiction. The author keeps arguing about the effects of internet overuse but never gives a solution to this problem. In addition, the thesis statement is not well stated. It is only after reading a large part of the article that one can tell the question under discussion.

Animal Farm Essay Example | Topics and Well Written Essays - 250 words

Animal Farm - Essay Example This made him to get rid of Snowball from the farm using the dogs that he had secretly trained. Thesis: Napoleon changed the farm rules by stating no animal shall kill each other without the cause. This indicated that Napoleon did not value other animals’ ideas as he made major decisions affecting the farm without consulting them. Thesis: Napoleon made the animals to work extra hard by forcing them to build a windmill, which he did not consider useful at the beginning. He used this to act as strategy to make animals too tired to think about their situation, lack time for rebellion and not to realize Napoleon’s intentions. The banning of Snowball from the animal farm indicates that Napoleon is an opportunist because he changes a situation to his favor. Throughout the novel, Napoleon used Snowball as scapegoat for everything that went wrong in the farm. This secured Napoleon’s leadership position as the animals did not blame him for anything bad. Napoleon used different means to ensure that he maintained his power (Orwell & Ian 25). For example, he rarely appeared in public that made the animals to believe that he had important matters to attend to rather than the animals’ welfare and they made the animals to adore his appearance. Finally, Napoleon eliminated anyone who appeared to be a threat to his

Business Essays Heineken Beer Market

Business Essays Heineken Beer Market Heineken Beer Market Executive Summary Chapter 1 analyze threats Heineken is facing and opportunities the company can get from the beer market by using two model PESTLE and Porter Five Forces. PESTLE describe what difficulties come from external environmental factors that the company is facing and Porter five force analyze the threats as well as opportunities of Heineken in suppliers, buyers, competitors, substitutes and new entrant. OT factors in SWOT analysis also use to define in chapter 1 for threats and opportunities of the company. Chapter 2 describes strengths and weaknesses in the company operation through the analysis of internal environment such as company resources, organizational structure and culture. The resources with include tangible, intangible, management capability and marketing which used to identify what the advantages Heineken are managing for the performance of their operation. SW in SWOT also use at the same time to analyze strongly what strengths and weaknesses Heineken is taking. Chapter 3 assesses how Heineken perform in term of effectiveness, efficiency and return to shareholders based on efficiency ratios and performance investment ratios. This assessment identifies the market share and market growth of company in the market. Chapter 4 finding the options those are available to the company and recommendation of the most appropriate ones for future strategic direction. Chapter 5 finding recommendations for structures, systems and policies which use to implement these strategies successfully. Chapter 6 the outline of my assessment of the usefulness of strategic management models for Heineken analysis. How PEST, Porter Five Force, SWOT, resource-based and financial analysis use to be described for my analysis successfully. Introduction Today beer is widely available and enjoyed in most countries and cultures around the world. Heineken is one of the largest companies in a global network of distributors and breweries. In addition, Heineken owns and manages one of the worlds leading portfolios of beer brands in terms of sales volume and profitability. Moreover, the company has been able to remain one of the worlds leading consumer and corporate brands for more than 130 years. It became Europes favorite beer brand successfully exported to every corner of the world. Chapter 1 Analysis of the external general PESTLE model Political Beer is a kind of drink that the government excises significantly because it contains alcohol which is addicted people. Therefore, this will affect Heineken Company in sale volume in the market. With internationalisation and globalisation, more and more brewers are hunting for new markets, governments on the other hand with and intention to gain maximum profit as well as get empathy on ethical grounds are imposing heavy taxes on liquor and beer imports. As a result, this fact will bring threat for Heineken. For example, recently drinking alcohol is prohibited on public transport in London. This hence will impact on the beer market because people want to enjoy their beer not only at home but also at public where they can have fun time with their friends. Economic Heineken has many operations in mature – mainly Western European and it is reported in Euros. Therefore, the currency fluctuations could create threat to the overall company results, especially relating to the US dollar. However, Heineken has a clear policy on hedging transactional exchange risks; this would postpone the impact on financial results. Nowadays, unemployment has risen due to recession in the market and this will result in more people will choose some cheaper alternative. As a result, Heineken with premium price will be impacted for that. This also brings threats for company in distribution aspect. Social culture Nowadays, beer is not only for men enjoy it but women also drink beer to enjoy its taste. Furthermore, life style of the new generation has become very fast and different, which result in lack of time in today life. Thus the consumption at bars is declining. This means that the beer market will be affected by this as well as Heineken Company, this will lead to go down in sale volume. Furthermore, demographic changes would influence the company a lot. For examples, in China where the population is going up rapidly and this combined with consumer having increasing amounts of leisure time. Therefore, these would lead to consumption of beer in China grew by 33.56% between 2000 and 2006. China now has overtaken the United State to become the largest national beer market in the world. As a result Heineken Company will have significant sale volume in this market. Technology Now it is hard to find a part of the company’s business that doesn’t use technology. Therefore, technology is developed will impact the company as well as beer industry. Information technology security upgraded has created opportunities for Heineken’s worldwide business operations, and connectivity in the company and with outside partners is increasing. For example, the recent advancement in the technology has opened huge markets for organizations to access world population without any barriers. This can be taken as a chance to reach out to almost every location on the globe. Hence Heineken will open their market in many locations in the world. Porter’s five forces model The bargaining power of suppliers The suppliers of raw materials to Heineken Company are mainly farmers. Therefore, the threat for power of supplier is high. The bottle supplier for Heineken is provided by Heye Glas Nederland which is fully supplied the green bottle for the worldwide distribution of Heineken beer. In the past, Heineken kept only 33% its stake in Heye Glas in order to secure the supply of high quality export bottles at a lower cost to meet the needs for demand but now Heineken has kept 100% stake in 2002. Beer is produced by water, barley, hops and yeast. These ingredients are supplied by farmers. Heineken also mentioned that competition for agricultural products from the biofuels industry that is affecting their costs. The bargaining power of buyers The buyers in this industry have many choices as there are many companies serving beer. This will increase the choice of the customer and hence the threat for power of buyers is high. For example, for serving customer at the pub, there are a lot of beer brands for them to fit their taste such as Guiness, Carlsberg, Tiger. Therefore, buyers now have a choice to choose the one they like. As a result, choosing of customer for what kind beer they want to drink will bring threats for Heineken. The threat of potential new entrants Nowadays, an explosion of smaller brewers has entered the market during the past decade that making the industry much more competitive. Heineken is one of the largest brewers in the world and they have to share market with other brewer. The barrier in the beer market is low. Therefore, the threat of potential new entrants for Heineken is high. This will make Heineken considering to create innovation or uniqueness into their product that can sustain competitive advantages in the beer market. The threat of substitutes Beer is a kind of beverage which contains alcohol. However, people can switch to drink wine which also is alcohol drink. Customer’s taste is not similar so that they have right to choose what they want to enjoy, so this will affect the beer market as well as Heineken Company. As a result, the threat of substitute for beer market is high. The extent of competitive rivalry Heineken has achieved the economy of scale in the market especially in Europe. It holds about 30% of market share in European beer market. Since the beer market is growing, so the competitors will try to attain their growth targets. The large brewer like Heineken tends to enforce their own strategies to the beer industry and due the economies of scale they will produce higher quality and unique products which can make their own place in the market, hence keep themselves growing to achieve their target. Chapter 2 Internal analysis of the company Analysis the resources Tangible: Since Heineken know that their plant and equipment is a key for company production, they invest so much in the infrastructure to make sure that their operation is working efficiently. For example, Heineken have four breweries in Russia, all those use KHS Till plant technology. This equipment at Heineken’s packaging can processes 50 liter kegs in addition to 30 liter at an output of up to 140 kegs an hour. As a result, the two-lane machine can operate with one racking, six washing and sterilizing stations. Intangible: brand name is most valuable asset of the Heineken Company, they has built this name Heineken with premium brand. The company recognizes that brand is very important key for them to develop a strong presence globally in the beer market so that Heineken have a lot of marketing activities for its brand name. Furthermore, branding is also a highly defensible competitive advantage for Heineken; this would bring strength to company expansion. Hence Heineken Company can stretch their production internationally and add more money for company. Management capability: Heineken implemented a number of new initiatives in the area of leadership development in 2004. One is a new leadership competency model that defines behavior expectations from all senior managers at Heineken. The model takes Heineken company ambitions and values as a starting point and translates these into the leadership behavior required from senior managers. With marketing differentiation using different message within normal media advertising can also have differentiating effect. This differentiation will bring strengths for Heineken. When most advertisers are pursuing essentially the beer market with the same message like showing gregarious groups of males in public houses having an enjoyable night out. In the other hand, Heineken managed to differentiate its beer by using a series of advertisements employing humour and the caption Heineken refreshed the parts other beers can not reach. Organizational structure In 2005 Heineken announced that it was created a new top management structure, this would drive and support growth as a global organization. In order to connect functions, operation and finance in a more effective way, the company create a new more streamlines Executive Board. Hence change would lead to create strengths for operating regions and global functions. Furthermore, Heineken has grown substantially over the past four years. The new structure is better suited to the present organization and ensures faster decision-making. In the beer market where the consolidation process is accelerating and rapid introduction of innovations is essential, this is crucial to the achievement of Heineken’s long term ambitions. Culture Heineken is proud of they are one of the world’s great beer companies. Hence their culture will reflect the company view and values. These values create so many strengths for company to develop their environment within the company. Heineken based on the value that they respect their employees, business partners, customers, shareholders and all others who are connected to the company. Furthermore, Heineken make life more enjoyable by bring enjoyment to life, they also encourage this core value within the working places and atmosphere within the company. In addition, company has a fundamental belief in the concept and delivery of quality, it is also reflected in their other activities such as their social and employment policies. This will create benefit and value both for Heineken and their reputation. As a result, these values define Heineken corporate culture and working methods which help company to do the business successfully. Chapter 3 Evaluation of the company’s financial performance 2005 2006 2007 Return on investment (ROI) 14% 20% 12% Return on equity (ROE) 21.1% 27.0% 15.5% Net profit margin 7.05% 11.02% 7.72% Dividend payout ratio 25.8% 24.3% 42.5% Earnings per share 1.71 1.90 2.29 Return on investment of Heineken changed from 2005 to 2007. In 2006 return on investment have a significant improvement compared to 2005. The increasing of ROI show the efficiency which Heineken got profit from its technology investment. The reason for increasing ROI is that the company deployed Windows Mobile 5.0 in 2006 and has experienced significant business benefits. Company has improves account development by offering its sales representatives instant access to pricing, promotions, availability and accounts receivable data. Window mobile led to an average sales increase after deployment. The return on equity of Heineken rose 5.9% in 2006 then declined 11.5% in 2007.The reason for going up return on equity is net profit increasing. In 2005 Heineken’s net profit is â‚ ¬761 millions and it was increasing to â‚ ¬1211 millions in 2006.The rising of return on equity shows that the company have used money from shareholders effectively in manufacturing. However, declining return on equity indicated that the Heineken beer was getting more expensive to produce because the prices of raw materials and packaging have raised significantly, transportation, energy and pressure on labor costs were also expected in the beer market. In 2006 net profit margin of Heineken increased so much compared with 2005 and 2007. 11.02 % show that the company got more profit from their sale. In that year, the distribution of Heineken went up with 111.9 hectoliters in consolidated beer volumes. Furthermore, the company achieved the best annual growth rate for Heineken premium brand for many years with growth of 11.8 %. With these reason Heineken achieved their performance effectively. From the table above we can see dividend pay out ratio decrease 1.5% in 2006 and then increase so much 18.2 % in 2007.The reason of increasing is that Heineken  has been changing its dividend pay-out policy at the end of 2006. This means that it would up the amount paid to shareholders from 20-25% of net profit before exceptional items and amortization to between 30% and 35%. These proposals support Heinekens intention to preserve its independence, to maintain a healthy financial structure in order to grow the business both organically and through acquisition. Earning per share of Heineken increased from 2005 to 2007. These figures above show the company has maintenance revenue. Distributions of company increase every year so that Heineken could earn from 1 share which investors have invested. Moreover, increasing company market share by earning per share will indicate that the profit getting from every dollar invested can satisfy both Heinekens’ stakeholders and shareholder. Chapter 4 Recommendations on strategic options 4.1. To face with the alcohol pressure in the market, Heineken have the strategy to produce and sell beer in the ways that have a positive impact on society at large. With this strategy, Heineken promotes awareness of the advantages and disadvantages of alcohol, this also encourage informed consumers to be accountable for their own actions. For example, in 2006 the launching of the â€Å"Enjoy Heineken Responsibly† program was finalized. Therefore nowadays company is becoming more and more engaged to promote responsible consumption in partnership with consumers. By using this strategy as purpose the company does not want beer consumers to condone in any way the abuse of alcohol, particularly Heineken Brand. As a result this will lead to the Company get positive aspect for their production in the society. I strongly recommend Heineken should use this strategy. 4.2. For solving the problem with currency risks as the global market is unstable in exchange money, Heineken have a strategy on hedging transactional exchange risks which postpones the impact on company finance result. After deduction of dollar-denominated costs, a net cash inflow in US dollars remains. This cash flow is hedged in advance mostly by means of forward contracts. This reduces the volatility of export results and the â‚ ¬ cash flows due to short-term fluctuations in the value of the US dollar against the Euro. Transactions are entered into with a limited number of counterparties. I don’t recommend that the company use this strategy because the global market is unpredictable. 4.3. To intensify the international marketing Heineken have sponsored for a lot of entertainments activities in the world. This strategy would bring the biggest strengths for Heineken brand name. For example, company is a major sponsor of tennis champion such as Wimbledon, the US Open, Australia Open and the Shanghai Open. Moreover, the music plan adopted also remains a key sponsorship area for Heineken. For example, in Singapore has been successful that it is now used in other markets such as Malaysia and Thailand. Following with these marketing strategies on advertisement, the good thing company would show that Heineken always attend to social activities that mean they are not only bring enjoyable but also bring responsible to people around the world. I recommend Heineken should continue to pursue this strategy. 4.4. For adapting with development of technology, Heineken has a strict information technology (IT) security strategy to ensure confidentiality, integrity and availability of information and data. Furthermore, supporting and monitoring activities towards operating IT are being strengthened for the company. Moreover, IT contingency measures with regard to the partly outsourced IT shared service centre. The benefit of this strategy on IT would help Heineken to connect with so many operations around the world. I recommend company use this strategy. 4.5. By using brand strategy Heineken has built a strong portfolio that combines the power of local and international brands. Furthermore, the consistent growth of brand requires solid creative brand management which Heineken coordinate centrally. Company has developed and adopted brand strategy to get strengthening in the market share where there are lots of other brewers there. I recommend Heineken use this strategy. 4.6. To sustain with strong position in the beer market, Heineken have adapted competitive strategy in its management. By offering competitively priced and quality products, Heineken want to give consumers the premium product with reasonable price compare with other brewers. The management of company recognizes that to maintain Heineken’s sales, they need to focus on what consumer needs. In addition to look at the strengths and weaknesses of the competitor in the key business segments, competitive strategy would bring advantages for Heineken to compete with it’s competitor for attracting customers. Chapter 5 Recommendations on the most feasible strategic options 5.1. Responsibility is a heart of alcohol policy. Based on the alcohol policy adopted Heineken want to stress that their operations need to sustain dialogue with government and health organizations. The objectives of policy are to prevent misuse and abuse of alcohol. Furthermore, they want to ensure that responsible consumption of beer is socially acceptable. In addition to help Heineken be a truly sustainable business. With this alcohol policy would implement for succeed of strategy. 5.2. As consumer needs and tastes vary, Heineken must decide how much to adapt marketing strategy to local needs using a variance of standardized marketing mix adapted marketing mix, owing to the strong brand preferences loyalties that exist among the beer drinkers. Also, Heineken need to prioritize between global integration versus national responsiveness evident from decreasing sales in Holland, Rest of Europe, and Africa. Besides that the beer market is also attractive in terms of size and future growth, this approach would help the company differentiate Heineken beer with premium price compared with other beer brewer. 5.3. Data synchronization provider system can manage data behind the firewall while benefiting from one point of access to the Global Data Synchronization Network. This system would help to minimal disruption to Heinekens day-to-day operations. This integration is the first in a series of initiatives that Heineken International has been planning to accelerate its data synchronization activities through one central connection point. As a result, this system would implement highly for technology strategy to the company. 5.4. Using the branding policy the company has built brand recognition for long-term to differentiate the brand Heineken and be sure to add value to the product in order to get the brand loyalty. The brand policy also stresses for maintenance of beer quality or creates benefits for society and culture, and also provides an emotion to its consumers. This policy would add more value for Heineken Company in successful way. 5.5. Heineken has in place a strong competition compliance policy across the entire business and has a comprehensive code of business conduct for all employees. Furthermore, Heineken believes in the principle of fair competition. It will keep in place policies and programmes aimed at giving guidance to employees to ensure that they understand competition laws and act in compliance with them. Chapter 6 The assessment of the usefulness of strategic management models 6.1. To me, I find that the PEST analysis is a useful business measurement tool. It’s looking at external factors to the organization. Following the factors of the analysis, I can see the big picture of Heineken’s environment in which they are operating and the opportunities and threats that lie within it. By analyzing factors of PEST model I can understand the Heineken external environment and how the environment affects business performance of the company. 6.2. For me, I find that The Porter’s five forces tool is a simple but powerful tool for understanding where power lies in a business situation. This model is useful because it helps me understand both the threats of Heineken current competitive position and the strength of a position company are looking to move into. Furthermore, understanding the nature of Heineken competitive environment by using Porter’s five forces model, I can analyze what are crucially important for company to build long-term business strategy and sustain competitive advantages in the market. 6.3. SWOT analysis is a powerful model for me to understand Heineken strengths, weaknesses, opportunities and threats that company face. This model helps me to assess what Heineken can and can not do as well as its potential opportunities and threats. Therefore, I can know what may assist the firm in accomplishing Heineken’s objectives and obstacles. Moreover, the model is also useful in the way that it gives me the overall performance of Heineken. Hence I can analyze where the place the company get their position. 6.4. Resource-based theory is useful to me in the analysis of internal factors of Heineken following these reasons. Firstly, I can find the factors that deliver sustainable competitive for the company like branding. Secondly, the physical resources can give me a look about the efficient operation of Heineken in new technology they adopted. Thirdly, by understanding resource-based I can recognize that the way company has the dominant position in the beer market compare with other breweries. 6.5. Financial analysis method is useful for me to understand the measurement of performance of Heineken. Based on the ratio formula I can see how effectiveness and how the financial risk company was doing. Moreover, looking at the numbers which company has represented on the financial statement, I can know the market share that Heineken has positioned in the market place and the market growth company has developed. As a result of calculating for financial analysis for every year I can find how the company has operated in the effectiveness way. Conclusion I think that with all analysis include external and internal environments, company performance and all the strategy and policies Heineken adopted will help company to step more successful in the future. Although Heineken now have some troubles in production or distributions but the top management are considering creating flexible way to overcome them and then Heineken Company will keep their position is that one of the most largest brewers in the world. Appendix Key financial ratios 2007 IFRS 2006 IFRS 2005 IFRS Net profit margin 7.72% 11.02% 7.05% Operating profit margin 12.0% 15.3% 11.6% EBIT margin 12.2% 15.5% 11.9% EPS 2.29 1.90 1.71 Operating cash flow per share 3.53 3.77 3.82 ROE 15.5% 27.0% 21.1% Equity/ borrowed capital 0.85 0.74 0.62 Interest coverage ratio 22.7 19.7 14.8 Net Debt/ EBITDA 0.8 0.7 1.3 Operating free cash flow/ net debt 0.39 0.59 0.43 Cash conversion rate

Argumentative Essay Eng 101

In the small village of Taiji, there is a hidden cove where Japanese fishermen slaughter thousands of dolphins each year. The massacre of these dolphins goes on for six months out of the year. The dolphins are driven in to captive by using torturous underwater noises and large nets to trap them in to this cove where they are slaughtered. Some of the dolphins are killed in the cove, by fishermen cutting their throats with knives or stabbing them with spears, while others are taken off shore into trucks and dragged by their tails to be killed later. The surrounding water is bright red with the blood of these dolphins and the air is filled with their frightening screams. Besides the abuse and unnecessary killings of these beautiful creatures, another issue that is going unnoticed is that the dolphin meat is filled with mercury and being consumed by the Japanese unknowingly. The last major issue is dolphinariums supporting the Japanese fisherman by paying thousands of dollars for selected dolphins to live in captivity for entertainment purposes. The massacre of dolphins taking place in the small killing cove in Taiji is absolutely horrific. Not only are these creatures being killed for unnecessary reasons, but they are being tortured in the process. The chase starts off with fishermen driving long metal rods into the ocean and pounding on them with hammers to create a sound barrier that will frighten the dolphins. Once the dolphins hear this noise, they panic and swim toward the shallow cove. This grueling chase can continue for up to eight hours and once they are in the cove, nets are placed to ensure that they will not escape. Early the next morning, after the dolphins have been entrapped all night, the fishermen come in small boats to slaughter the dolphins. They drive long metal spears into their bodies, slit their throats, and sometimes cover their blowholes to drown them. While these innocent dolphins fight for their lives the fishermen have absolutely no guilt or remorse for what they are doing. The dolphins are being killed for no reason in particular, in fact, the Japanese fishermen view what they do as a form of pest control. â€Å"The Japanese government tell the fishermen that dolphins are â€Å"pests† that eat too many fish, but the real reason for fishery declines is over-fishing, climate change, and pollution. † (http://www. campaign-whale. org. campaigns/Japan/dolphins) Another pressing issue that has been covered up is the consumption of dolphin meat unknowingly. The meat is highly contaminated with mercury and is not safe for human consumption. Levels of mercury in the human body poses serious health risks, especially to pregnant women and children. The contaminated dolphin meat is falsely packaged, and people are consuming this food believing that it is high-end fish meat. The mercury filled meat is also ending up in school lunches and children are coming down with serious illnesses and deformities due to the carelessness of the fishermen packing this meat. Hypothetically, if dolphin meat was safe for consumption, it is highly unbelievable that 23,000 dolphins need to be killed each year to meet consumption needs. Dolphin meat sold to the Japanese people is highly contaminated with mercury, methyl mercury, cadmium, DDT and PCBs. The Japanese government provides no warning that eating dolphin meat  poses a serious health hazard. (http://www. guardian. co. uk/film/movie/ 132131/cove. ) Perhaps the most shocking aspect of the dolphin drive hunt is the active role that some dolphinariums play in sustaining the hunt. The fishermen of Taiji would will drive a large school of dolphins into the small killing cove, and dolphins trainers flock to the scene to find the best-looking dolphins for their display facilities. By doing business with the fishermen and paying up to 200,000 dollars a dolphin, they are maintaining the dolphin drive slaughters. The growing selection process drags on for several hours, and some dolphins die from either shock, injuries, or exhaustion. During this time some make frantic attempts at staying at the surface of the water, but their pectoral fins have been dislocated or broken. An injured dolphin is worth nothing to the aquarium industry and the dolphin trainers simply hall the dying dolphins back into the water and dump them, showing no emotion whatsoever. (http://www. savejapandolphins. org/faq. php) Dophinariums that purchase dolphins claim that they are saving the dolphins from slaughter, however, this is entirely inaccurate. The only save the ones that can be commercially exploited and leave the â€Å"rejects† to be killed by the fishermen. There are many facts to support that the killing of the dolphins in Japan is unnecessary, brutal, and morbidly wrong. The way that these animals are chased and tortured before they have to endure an excruciating death is heart wrenching. This is an issue that is ongoing despite the continuous attempts to stop what is happening. The only way to stop the killings is to expose them to the world. The goal of trying to get footage of the slaughters is for awareness purposes because the more that this issue become exploited, the better chance there is to stop what is happening to these dolphins.