International Resort and Spa ManagementAnalysis of the relationship Essay

International Resort and Spa ManagementAnalysis of the relationship between Customer Satisfaction and Customer Loyalty based on the Service-Profit Chain - Essay Example f service, including acquiring technology that enhances frontline workers, investing increasingly in people, revamping the training and recruiting practices, and performance based compensation. Such approaches enhance employee satisfaction, productivity and loyalty in line with the value of services and products delivers, thus promoting customersatisfaction and loyalty, which in turn enhances the profitability and growth of the organization. It is with no doubt that a loyal customer’s lifetime value is astronomical, particularly upon addition of referrals to the repeatpurchases and customer retention economics (Al-alak & El-refae, 2012, p. 199). The service-profit chain allows managers to focus on new investments that would allow for establishment of levels of service and satisfaction that would facilitate higher competitive impact. Various arguments have been established concerning the relationship between consumer satisfaction and consumer loyalty, with some individuals beli eving that satisfaction fosters loyalty while others refuting this idea. It is evident that a level of consumersatisfaction is highly likely to facilitate repeat purchases and recommendations among consumers, but does not guarantee such loyalty to the organization. The resort and spa industry is increasingly growing with news players being introduced each instance. As such, organizations within this industry are faced with highly competitive markets, which call for highly effective strategic approaches that would allow for attraction and retention of consumers. Managers within thisindustry are faced with contrasting takes on the kind of approaches that would facilitate such retention, with one facet of perspectives suggesting that consumer satisfaction would facilitate loyalty, while the other suggesting that consumer loyalty is not necessarily guaranteed by consumer satisfaction and thus other approaches should be employed. This paper reviews the relationship between consumer satis faction

Role of Electronic Media in Communication Essay Example for Free

Role of Electronic Media in Communication Essay The role of the Internet in business communication is varied and has come to be of great importance. It can be used to increase effective communication both internally and externally. Use of the Internet can make it easier to connect with others quickly and more often, in addition to exchanging a wide array of media types. It can be used to communicate purchase information to vendors and by customers to ask questions. The factors that make the role of the Internet in business communication important can also cause conflict, depending on the way the medium is used. Email is one of the most popular uses of the internet in business communication. It is widely used for both internal and external communications. Email enables users to communicate with each other at any hour and from several locations. It can also be an effective way to keep track of requests, conversations, and other important data as it provides a record of what was communicated. One of the most significant internal uses of the internet in business communication is the intranet site. This is a website that is only available to the members of a particular organization. It typically serves as both a sort of community bulletin board and a place to access forms, information, and other resources that are necessary or helpful for employees. Most intranet sites are password protected and some even have sections which are only available to certain groups of employees. The transmission of the internet has revolutionized the business arena. The use of the Internet is changing high-tech marketing overnight while different industries have been trying to use it as part of their marketing strategy. It does not only reconfigured the way different firms do business and the way the consumers buy goods and services but it also become instrumental in transforming the value chain from manufacturers to retailers to consumers, creating a new retail distribution channel. Website development is a powerful tool used by different business organizations around the world. It is defined as the process of achieving business objectives utilizing electronic communications technology. Email- Email has evolved into probably the most common form of communication today. Set up mailing lists in your email software for internal communications, vendor news, press releases and customer information. Use a professional email address, preferably with your company’s website address as the suffix, rather than sending from a personal account or a free Web account. Sending bulk emails can result in many of your messages ending up in recipients spam folders or worse, violating the CAN-SPAM act. Contact your Internet service provider to learn if you can send bulk emails from your account and what precautions you’ll need to take to stay within the law, such as including an opt-out provision for people on your list. The convenience of email can lead to impersonal communications — send well wishes and thank-you notes using cards and letters. Press Releases- For generations, the press release has been the standard form of communications between business and the media. Create a list of media contacts and send news regularly. Put a date on each press release and supply contact information for your business, including a persons name, telephone number and email address. Don’t talk about yourself to start your press release — focus on the reader, providing information that makes your information news, not advertising or promotional content. To make sure your press release doesn’t get lost in a flurry of emails to an editor’s inbox, send a print copy of your release via snail mail and follow up with an email. Contact Management Systems- A contact management system is a database of people important to your business that you can sort in a variety of ways. The database should allow you to create lists of customers, clients, media contacts or vendors by contact type, area code, ZIP code, state or other parameters you set up in your database. Some companies create their own contact management systems, others buy sophisticated programs, while others use budget-friendly Web services. In addition to simple email lists, some programs let you create newsletters or other marketing tools to increase your interaction with customers. Phone Systems- Your business will seem more professional if you have a dedicated phone line rather than taking calls on your cellphone. Phone systems allow you to use one phone for multiple lines, play music while customers are on hold, transfer calls to other employees, make conference calls and set up mailboxes. When you buy service from a phone company or your Internet service provider, you might be able to get the phone free, along with a number of upgraded services and free customer support. Video Conferencing- Bringing people together for meetings with video conferencing not only creates a more intimate meeting, but also saves your company thousands of dollars in travel costs. Unlike a telephone conference call, a video call lets different participants show charts, make demonstrations and share drawings, models and mockups. Many computers come with built-in cameras, and attachments are available for many others. Test video conferencing with one other person, then expand to try a few internal meetings before you commit to an important videoconference. 1. Campfire If your business involves frequently collaboration with many different colleagues, clients and vendors, consider using Campfire for real-time chats. Campfire is like instant messaging, but designed exclusively for groups. It also works with any IM client. Campfire’s Web-based, group-chat tool lets you set up password-protected chat rooms and invite others to chat, collaborate and make decisions. You can upload an image file, and it displays right in the chat room for all chat members to see. You can even invite the entire chat room to a conference call with one click. Since it’s Web-based, you don’t need to download, install or configure anything—all you need is a Web browser and an Internet connection. Best of all, a basic package will cost you just $12 per month. 2. Present.ly Present.ly allows individuals to post short, frequent updates that are tracked or followed by others, similar to Twitter. But unlike Twitter, Present.ly provides a secure and private way to do this, enabling users to share updates among members of a company without them being visible to the outside world. The basic service is free. Present.ly enables you to share images, documents, video and audioclips with colleagues. The app is a great way to get quick feedback on a new design mockup, send out new policy documents for human resources or even post pictures from the company picnic. You can also keep the team conversations focused by creating groups for each project or topic of discussion—users will receive messages that are relevant to the topic at hand, and they’re free to move between conversations as desired. 3. Yammer Does your business have team members in multiple locations, or are you a virtual team scattered across the globe? You might want to check out Yammer, which allows you to set up a private social network for your business to communicate, collaborate and share expertise via an easy-to-use, Web-based interface. While the product’s wide range of features makes it appealing to large organizations, small businesses appreciate that Yammer lets you upload and share documents with co-workers and create communities for cases when you’re working with partners outside of your network. SMB owners will also like the price: the basic service is free. 4. Cube Tree Another tool to check out is Cube Tree, Success Factors’ social collaboration technology. Cube Tree combines collaboration tools with a private social network. Users can keep each other up-to-date on their activities by following people and groups of interest, and by posting updates and comments. Cube Tree advances a team’s ability to work efficiently in public and private groups by drawing on a wide array of tools, including blogs, wikis, social docs, polls and task tracking. Cube Tree Basic is free, and Cube Tree Premier costs $5 per month per user. Small businesses that are already using Success Factors’ Employee Performance Management software will also like the fact that Cube Tree uses the same profile and organization data available in other Success Factors modules. For example, when used as part of the recruiting process, Cube Tree can accelerate recruiting by simplifying resume review and discussion on candidates, and it also streamlines the new hire’s onboarding process. 5. Mango Spring Another one-stop-shop for social communication and collaboration is MangoSpring’s MangoSuite, which includes microblogging, chat, document sharing and project management applications that work together in one integrated platform. You can mix and match the functionality you need, and you’ll only pay for what you use, with prices starting at just a few dollars per user per month. MangoSuite pulls together all of your employees’ ideas, deadlines, milestones, threaded discussions, brainstorms, exchanged links and uploaded documents and makes them accessible in a real-time enterprise micro-blogging platform. Similar to how Facebook‘s feed and commenting functionality works, sharing something with the group or project members generates a feed that is visible to the relevant team; users can then comment on any feed item. 6. WizeHive If your company’s online life revolves around e-mail, WizeHive may be the choice for you. WizeHive is a collaboration platform that allows groups to share conversations, notes, tasks, calendars, files and other information in secure, private workspaces. Information can be entered from within WizeHive or via e-mail, Twitter and mobile devices. WizeHive integrates with any e-mail program—you can create new notes or tasks by simply sending a message to a special WizeHive e-mail address with the name of the workspace in the subject. Likewise, you can also receive WizeHive communications from your colleagues via e-mail. The starter package is free for up to three workspaces and 5GB of storage 7. Socialcast Need your social communications technology to integrate with your existing infrastructure? Check out Socialcast. Socialcast allows companies to integrate their traditional systems (such as CRM and ERP) with its social software platform, enabling employees to collaborate and take action on the core processes being carried out by those systems. In terms of core functionality, Socialcast offers internal activity streams, enterprise microblogging, employee profiles, groups, integration with SharePoint and even a desktop app and mobile version. The basic service is free, but for a few dollars per user per month, Socialcast offers Socialcast Reach, which enables integration with CRM systems, ERP systems, HR business systems and more. 8. Facebook Groups Don’t need any of these bells and whistles? You might want to look at Facebook Groups. Your employees are already on Facebook, they know how to use it, and it’s free. While Facebook Groups lacks much of the advanced features of other social collaboration technology, it has just enough functionality for staff to collaborate and work together. They can use Facebook Groups for real-time collaboration, do group chat using Facebook chat, and post photos, news and updates to the group feed. It even has basic document sharing and editing functionality. Best of all, if you want your team to promote your business to their Facebook network, you don’t have to send out an e-mail and hope people share—all you have to do is post an item to your Facebook feed and employees can share with just one click. Conclusion To summarize it all, the emergence of the Internet has undoubtedly changed the business environment in which the firms around the world operate. It has been stated that the Internet has altered industry structure by reducing the costs of coordination in the value chain. The Internet has become a source of competitive benefit by bestowing companies with new ways to outperform their competitors, and spawned new businesses by providing more information. Moreover, the Internet evolves to encourage direct interaction between producers and consumers in markets where consumers have more complete information about goods and services, enabling them to exert substantial control. Further, the rapid growth of the internet has been one of the key factors in changing the rules on how businesses’ compete in the market. The reach and speed of the enhancement along with the distinctive characteristics of interactivity and customization intensify the need for having a modern business approach from the competing industry on the internet serving in their attempt to oppose or leverage the popularity of other competitors. Herein, the strategic importance of the internet in terms of communication is especially evident for the business industry as products/services and the internet has been able to create a to maintain good customer interaction and business transactions. With millions of websites online, the Internet is considered as the most essential communication medium in the world and with millions of customers around, many organisations will have the opportunity to provide the needs of a specific market.

The Jerks From North Kitsap :: Free Essay Writer

The Jerks From North Kitsap November 14, 1999: What must have been the worst day in racing history, an entire cross country team was lost and found dead 21 miles off course by the Pacific Ocean. Here is the story of what was once thought to have been the best X-Country team ever. NK Runner: (Heading to police car) "I swear I didn't think they'd do it! It was just a joke. I mean, who in god's name would go that far of course anyway!? I'm innocent I tells ya. INNOCENT!" Police Man: Why did you tell them to run a different route, son? Why did you point them in the wrong direction? NK Runner: It wasnt't just me. It was my whole team. We didn't think they'd go where we pointed. We didn't actually think they'd run to Bear Cove for cryin' out loud. We all had a good laugh when we watched the entire PA team go the wrong way, but had no idea it would lead to this. Police Man: Lead to this indeed. The whole team was ripped apart by bears. How could you pull such a deceitful act, son? NK Runner: It was just a joke..... Throughout the day, runner by runner was interviewed. Everybody who was on the premesis was asked why such an incident could occur. "The Jerks From NK" was the conclusive result. Hated in just about every sport, NK had told the PA team to run down the wrong path, so PA did. This journal was found at Bear Cove. A journal you ask? Yes, PA had a journalist go along for the run with them. A former X-Country man himself, he'd pause to write, and then he'd run to catch up. Weird, yes, but everyone in town wanted to know what made the team keep on going. Here's a few inserts from the journal. We really must be ahead of the pack now for we have not seen another runner in sight for the longest time. It's been 4 miles and we're still the only ones around. We just got done pausing for a break because we think something's a little bit fishy. Ever since those NK guys pointed us down this trail we haven't seen a soul. We're starting to get tired but we'll keep trecking on. Signing off. 20 more minutes of running and still nobody in sight. The Jerks From North Kitsap :: Free Essay Writer The Jerks From North Kitsap November 14, 1999: What must have been the worst day in racing history, an entire cross country team was lost and found dead 21 miles off course by the Pacific Ocean. Here is the story of what was once thought to have been the best X-Country team ever. NK Runner: (Heading to police car) "I swear I didn't think they'd do it! It was just a joke. I mean, who in god's name would go that far of course anyway!? I'm innocent I tells ya. INNOCENT!" Police Man: Why did you tell them to run a different route, son? Why did you point them in the wrong direction? NK Runner: It wasnt't just me. It was my whole team. We didn't think they'd go where we pointed. We didn't actually think they'd run to Bear Cove for cryin' out loud. We all had a good laugh when we watched the entire PA team go the wrong way, but had no idea it would lead to this. Police Man: Lead to this indeed. The whole team was ripped apart by bears. How could you pull such a deceitful act, son? NK Runner: It was just a joke..... Throughout the day, runner by runner was interviewed. Everybody who was on the premesis was asked why such an incident could occur. "The Jerks From NK" was the conclusive result. Hated in just about every sport, NK had told the PA team to run down the wrong path, so PA did. This journal was found at Bear Cove. A journal you ask? Yes, PA had a journalist go along for the run with them. A former X-Country man himself, he'd pause to write, and then he'd run to catch up. Weird, yes, but everyone in town wanted to know what made the team keep on going. Here's a few inserts from the journal. We really must be ahead of the pack now for we have not seen another runner in sight for the longest time. It's been 4 miles and we're still the only ones around. We just got done pausing for a break because we think something's a little bit fishy. Ever since those NK guys pointed us down this trail we haven't seen a soul. We're starting to get tired but we'll keep trecking on. Signing off. 20 more minutes of running and still nobody in sight.

Animal Testing is Animal Cruelty :: Animal Testing

Animal Testing is Animal Cruelty We, as humans, have made numerous advancements in the world. We have firmly established the scientific evolution, but in doing so, it seems that our ethics and morals have failed to progress as well. The knowledge we have acquired is remarkable, but with it comes responsibility to use it wisely and ethically. We torture and heartlessly kill creatures that we arrogantly consider lesser beings simply at our disposal. For something as simple as eye makeup animals are tortured and blinded by tests performed at the laboratory. Where they are hardly fed, often forced to live in filth, and sometimes have their vocal cords removed to keep them quiet (CAAT). We are systematically cutting down the last forest that provides their shelter to farm cattle; we dump toxic chemicals and sewage into the waters in which they live; we wear and display the tusks of the last few of their species in our homes, and we pour cosmetic products into their eyes and body parts to determine the harmful effects the y might cause on humans, even though the physiological differentiation between humans and the animals they use is drastic. On a daily basis most people do not see their own degree of unintentional support towards this global dilemma, but when compiled on paper one must question how mankind can, with conscience, commit these acts which shame us as human beings. Animals possess the same kinds of feelings and emotions as human beings, and without anesthesia, they are subjected to the pain as well. Mankind often fails to give animals the respect and rights they deserve, they are treated as lifeless, unfeeling scientific specimens and items that we may manipulate at our own convenience and for vanity’s sake. The Facts of Animal Tests - Laboratory research involving animals is cruel and merciless treatment of helpless creatures. No law requires that cosmetics and household products be tested on animals. Nevertheless, every day hundreds of animals will have had their eyes, skin or g astrointestinal systems unnecessarily burned or destroyed (PETA). Two of the most common animal tests are the Draize, or eye irritancy test and the LD50 (Lethal Dose 50). The Draize test is performed almost exclusively on albino rabbits, such as the Forida White, because they are cheap, docile, and are not â€Å"equipped† with tear ducts to wash away the chemicals. During the test the rabbits are immobilized in a stock with only their head protruding and a solid or liquid is placed in the lower lid of one eye of the rabbit; substances vary from mascara to aftershave and even oven cleaner.

“Beowulf”, “The Odyssey” and Other Related Epics Essay

An epic is best described by the Merriam-Webster Dictionary as a long narrative poem in elevated style recounting the deeds of a legendary or historical hero. Epics like â€Å"Beowulf† and â€Å"The Odyssey† are perfect examples of this definition; they are each centered on the deeds and triumphs of their heroes, Beowulf and Odysseus. All epics are similar in a way that they are made up of elements. One major element of the epic is its themes. In all epics, the themes are what make and mold these narrative poems, they descriptively outline the story. Most epics, like â€Å"Beowulf† and â€Å"The Odyssey†, have themes like battles, homecoming, identity, recognition etc. Through themes like these, morals, values and traditions relating to the main characters’ customs and culture can be introduced to the reader. The setup and purpose of the story, through the theme(s), can also be introduced. Not only are the themes identity, battles, recognition and h omecoming related to â€Å"Beowulf† and â€Å"The Odyssey†, but they are also linked to other epics as well. â€Å"The Odyssey† is best described as â€Å"a guide to the Greeks, a guide to literature and a guide to the complexities of society, identity, and home†. There were many themes, both universal and timeless that thoroughly revealed the main ideas and issues of this legendary epic. The first and more stressed theme in â€Å"The Odyssey† is identity. â€Å"In Grecian times, the identities of human beings were associated with their properties, their name and their heritage or past†. A Greeks’ household was the foundation of his or her identity. Being that Odysseus was lost in search of his seized home, until he found it, he was considered a â€Å"nobody†, or as he called himself, a â€Å"no-man†. Like his home, Odysseus has to reclaim his great name as well. Without a name a man has no meaning or value. Not only does Odysseus search for his identity, but his son, Telemachus searches as well. Without knowing anything about his past (his father, Odysseus) Telemachus feels that he doesn’t know who he is or what he’s truly worth. Odysseus and Telemachus battle with their identities for the majo rity of the epic, which further explains why â€Å"identity† is one of the main themes. Next, the theme that relates to the theme of identity is homecoming. This theme supports Odysseus’s long journey home. â€Å"In Greek, the tales of returning home were called Nostoi†. To the Greeks, homecoming meant â€Å"reclaiming heritage, identity and loved ones† . There were many obstacles (Gods, people etc.) in the epic that tried to deter Odysseus from reaching his home once again. In the epic, Homer shows the reader how Odysseus feels by saying this, â€Å"sitting on the seashore and his eyes were never wiped dry of tears, and the sweet lifetime was draining out of him, as he wept for a way home†. By including the ideas of loneliness and longing to be home, Homer creates the theme of homecoming. Another important theme in â€Å"The Odyssey† is battles. As well as searching for his identity and home all throughout the epic, Odysseus also had to defend himself throughout the epic. The battles in epics help build the character. They almost always result in victories and turn the main character(s) into legendary heroes. In â€Å"The Odyssey† there was not a battle that Odysseus lost, he even defeated the almighty Poseidon, god of the sea, by returning home. He had a lot of help from the goddess of wisdom, Athena. Without the main idea of â€Å"heroes† along with battles and villains, epics would be undefined. Battles, as a major theme in all epics, are needed to keep the story moving. Like all the themes in â€Å"The Odyssey† each is linked to the other. The theme that is linked to the most important one in this epic, identity, is recognition. Recognition in this epic focuses on Odysseus and his disguise (an old man) that is given to him by Athena to help him reclaim his kingdom and his wife. Homer shows how Odysseus plots and schemes to take back everything he once owned. The whole idea of this theme is as he goes about with his disguise, only several of those closest to him recognize something familiar about him and see that he, the old man, is Odysseus. Although, his wife Penelope did not know until he turns back to his original being. Also, recognition is gained when Telemachus doubts that Odysseus is his father. But, Odysseus eventually persuades Telemachus to accept him as his father. As stated before, in Homer’s epic, â€Å"an identity cannot be claimed until recognition of that identity from others is claimed first†. Like â€Å"The Odyssey†, â€Å"Beowulf† is also a legendary epic that includes the themes identity, homecoming, battles and recognition as its primary focus. In â€Å"Beowulf†, the themes homecoming and recognition are very closely related. When Beowulf returns to Geatland, he is greatly rewarded for his works. He reunites with King Hygelac and tells of his great adventures. Recognition is shown by Beowulf giving most of his treasure received to the King, and in return is awarded with treasure of his home from King Hygelac. Beowulf was praised and glorified for his homecoming(s) to Geatland and his return from his victories over Grendel and his mother. He wasrecognized as a â€Å"true hero†, an Anglo-Saxon hero to be exact. In â€Å"Beowulf†, Kingdoms acknowledged Beowulf by showering him with treasures, feasts and celebrations. Like God, to the Geats and Danes, he was worthy of all praises. He earned his recognition. That’s what the homecomi ng of a hero is all about, heroes being rewarded for their works and receiving the uttermost respect. Recognition is the actual reward received from the heroine act, whether its treasures or shouts and chants of the heroes’ name. Just as the themes homecoming and recognition in â€Å"Beowulf† are related, the themes battles and identity relate as well. The battles that Beowulf fight, in a way, reveals the person he really is and what he’s all about. His triumph in each battle shows the reader that he is a true hero and that he’s willing to fight to be recognized and to gain a sense of self and national pride. â€Å"Beowulf† begins with a battle and ends with a final battle against the dragon. Being that he fights for the majority of the epic, and his adventures are molded from his battles, this must be included as one of the main themes. Yes, â€Å"Beowulf† and â€Å"The Odyssey† do share similar themes but each theme has a different significance for each epic. Each theme stands for something different between the two. The significance of the theme identity in â€Å"Beowulf† is that his battles help to reveal who he is all throughout the epic. Beowulf knows that he’s a hero and that he’s brave. He defeats all of the villains and saves the day, he just wants other to realize this too. But, in â€Å"The Odyssey†, Odysseus and his son Telemachus have to search for their identi ty. The theme recognition in â€Å"Beowulf† has the significance of Beowulf being rewarded and recognized for his great works. On the other hand, the significance of recognition in â€Å"The Odyssey† is for Odysseus to keep himself hidden as a tool to help him reclaim his kingdom. The significance of the theme battles is very similar in each epic except Beowulf fights because he wants to be the hero (and he is), but Odysseus fights because he has to, although he too becomes a hero like Beowulf. Odysseus is trying to return home to his family and regain his identity but Beowulf is trying to gain recognition. As far as the theme homecoming, they each get the same response upon their return. The people that respect and love them are happy to see them once again. Both Beowulf and Odysseus return home with adventures and stories to tell. Likewise they each receive treasures. Beowulf receives gifts and Odysseus receives a gift that’s more precious than gold or treasures to him, his family and his kingdom are once again in his arms. During the course of my research, I realized that the themes of â€Å"Beowulf† and â€Å"The Odyssey† relates to other epics also. These epics are â€Å"The Iliad† by Homer, â€Å"The Aeneid† by Virgil, â€Å"Gilgamesh† by an anonymous author and â€Å"The Rape of the Lock† by Alexander Pope. These epics are noteworthy as of proving my thesis because first, they are all epics and second, they all share at least one theme with â€Å"Beowulf† and â€Å"The â€Å"Odyssey†. â€Å"The Iliad†, a Homeric epic like â€Å"The Odyssey† is very popular and well known by many. Also it is very similar to â€Å"The Odyssey†. It has most, if not all the same themes and was written by Homer as well so it basically has the same setup as â€Å"The Odyssey† but more so focuses on war. This epic can best be described as a story within a story. Along with â€Å"the Iliad†, â€Å"The Aeneid†, an epic by Virgil, greatly focuses on identity and homecoming. this too is also a popular epic. Next, â€Å"The Rape of the Lock† is a mock epic by Alexander Pope intended to â€Å"lampoon† or make fun of epics. He presents the whole idea of battles, homecoming, recognition and identity like the â€Å"usual† epics but in a comic al way. And last but not least, â€Å"Gilgamesh†, an epic by an anonymous author is one that takes the reader through a world of adventure. Although all four pieces of literature I selected are epics containing more than one theme, my focus is on one specific theme for each that relates to â€Å"Beowulf† and â€Å"The Odyssey†. The theme that I’ll most focus on for â€Å"The Iliad† is the theme recognition. This theme in â€Å"The Iliad† is closely related to the glory and celebration of war and is † the predominance of military glory over family†. As far as recognition goes, the characters more so recognize the pursuit of glory and honor than anything else. True, like every normal person the characters love their families but â€Å"they honor the pursuit of â€Å"kleos†, â€Å"glory† or â€Å"renown† that one gains in the eyes of others by performing great deeds†. War and recognition are the key factors in this piece of literature. The characters in this story focus so much on war and recognition because Homer wants the reader to see that he sugg ests that the characters (mortals) try to live their lives as horribly as possible so that they can be remembered well. â€Å"For if mortals’ physical bodies and material creations cannot survive them, perhaps their words and deeds can†. Homer is trying to stress the fact that the mortals should make a huge impact on their life, something that no one will forget and what better way to do it than with recognition and glory. In this epic, the characters usually end up in a situation where they have to choose between their family and their glory. And of course by most, glory is chosen. Hector, one of the great warriors in the Trojan army chooses to win the great glory of his father no matter the cost, even though he could orphan his only son. Hector knows that if he fights among the front ranks then he will end his quest for kleos and receive great recognition from all. Hector willingly sacrifices his life. No other theme can best describe the entire epic, â€Å"The Iliad†, like recognition. Homer put so much emphasis on it that it’s very obvious to see that recognition honor and glory (kleos) are â€Å"The Iliad’s† main themes that overshadows all the others. Although it’s not one of the main themes, identity still is considered a theme in â€Å"The Aeneid†. The theme identity in â€Å"The Aeneid† is very similar to the theme identity in â€Å"The Odyssey†. In this epic, the first part discusses the wanderings of the Trojans from Troy to Italy. While traveling, the â€Å"wanders† were considered homeless. Ancient culture suggests that â€Å"a homeland is one’s source of identity†. So being that they did not have a permanent home, like Odysseus, they were † no-men†. Being homeless means that one is not stable with his or her situation as well as identity, in this epic this caused the men to suffer. Like Odysseus, the Trojans were in search of their identity and for them alone, a place where they belonged. But Odysseus knew where he belonged, at home with his family. Each time they landed on a different island they would get frustrated because they were not sure if it was their place (which was Italy) . The only reason why identity is considered a theme in this epic is because the Trojans were unsure of themselves. It took them some time to reach their desired destination. It is also considered a theme because again as a part of ancient culture, to have a home is to have an identity. Another theme that is related to â€Å"Beowulf† and â€Å"The Odysseyà ¢â‚¬  and other epics is battles. The theme battles agrees with the epic â€Å"The Rape of the Lock†. This narrative piece of literature is not the â€Å"usual epic†; it is considered a mock epic because it lampoons the themes and oral traditions of the usual epics. Being that â€Å"The Rape of the Lock† is a mockery of the usual epics, everything about it is silly and strange, yet still makes sense. For example, Cosmetics, clothing and jewelry substitute for armor and weapons. One of the battles is an intense game of cards, which of course results in the victory of the protagonist, but even still that isn’t the point. The point is to take the usual themes from the usual epics and twist them around to show mockery. â€Å"The majority of the great battles of this epic are related to gambling and flirtatious tiffs†. Although the characters in this epic fight over silly things, Alexander Pope still gets his point across to the reader. Finally, the last epic that has a theme that relates to those of â€Å"Beowulf† and â€Å"The Odyssey† is â€Å"Gilgamesh†. Homecoming is the theme that best defines this epic more than the others do. Like in most epics, Gilgamesh went on a journey and like Odysseus, on his wa y home a goddess propositions him. When he refuses her proposition, the goddess delays his homecoming by sending enemies out to destroy him. But of course Gilgamesh defeats them and returns to his homeland Uruk. When he gets there he praises the town walls and worships the land as he walks. This epic is a bit different as far as homecoming than â€Å"Beowulf† or â€Å"The Odyssey† because once Gilgamesh finally reaches his home, he doesn’t care about honor, glory or recognition, he’s just glad to be alive, glad to see something as simple as the walls of his town once again. But of course like the other epics he does reunite with his loved ones and friends. The only problem is that this theme (homecoming) for this epic isn’t as solid as it could have been, there was no big feast or treasures waiting for him at home, just his precious town walls and loved ones. In conclusion, not only are the themes identity, battles, recognition and homecoming related to â€Å"Beowulf† and â€Å"The Odyssey†, but they are also linked to other epics as well. â€Å"The Iliad†, â€Å"The Aeneid†, â€Å"The Rape of the Lock† and â€Å"Gilgamesh† each contain one of the themes that their stories concentrate on the most. â€Å"The Iliad† is mostly related to recognition because the characters recognize the pursuit of glory and recognition more than anything else in their lives. â€Å"The Aeneid† mostly relates to identity because the Trojan soldiers are homeless which leaves them searching for an identity due to their culture. â€Å"The Rape of the Lock† concentrates on the mockery of the â€Å"usual battles† of an epic as well as other themes and â€Å"Gilgamesh† somewhat focuses on the theme homecoming because of his eagerness to return home and all of the obstacles and villains he has to face to get there. Although each epic was surely different, they all still had something in common, they all had themes that related to those of â€Å"The Odyssey and â€Å"Beowulf†.

Characterization of Moll Flanders Essay Example

Characterization of Moll Flanders Essay Example Characterization of Moll Flanders Essay Characterization of Moll Flanders Essay The narrator and protagonist of the novel, who actually goes by a number of names during the course of her lifetime. Born an orphan, she lives a varied and exciting life, moving through an astonishing number of marriages and affairs and becoming a highly successful professional criminal before her eventual retirement and repentance. Moll Flanders is the alias she adopts, or rather is given by the criminal public, during her years as an expert thief. Molls Mother A convicted felon, Molls mother was transported to the American colonies soon after her daughter was born. She reappears as Molls mother-in-law midway through the novel, when Moll travels to Virginia with the husband who turns out to be her half-brother. She leaves her daughter a sizable inheritance when she dies, which Moll reclaims in America at the end of the novel. The Nurse A widow in Colchester who takes care of the child Moll from the age of three through her teenage years. The sudden death of this nurse precipitates Molls placement with a local wealthy family. The Elder Brother One of the two brothers in the family with which Moll spends her teenage years, he falls in love with her. She becomes the mistress of this older brother, under the mistaken understanding that he intends to marry her when he comes into his inheritance. Robert The younger of the two brothers who fall in love with Moll. He eventually marries her, in spite of his familys disapproval, but dies after five years. The Draper Molls second husband, a tradesman with the manners of a gentleman. His financial indiscretions sink them into poverty, and he eventually escapes to France as a fugitive from the law. The Plantation Owner A man who marries Moll under the deception that she has a great fortune. Together they move to Virginia, where he has his plantations. There, Moll learns that he is actually her half-brother and leaves him to return to England. The Gentleman A well-to-do man who befriends Moll and eventually makes her his mistress. His wife is mad, but he keeps Moll for six years before an illness and religious experience prompt him to break off the affair. The Banker A prosperous man whom Moll agrees to marry if he will divorce his unfaithful wife. They live happily for several years, but he then dies. Jemy Also called James and my Lancashire usband, he is the only man that Moll has any real affection for. They marry under a mutual deception and then part ways. Eventually they are reunited in prison and begin a new life together in America. My Governess Molls landlady and midwife, later her friend and confederate in crime. She helps Moll manage an inconvenient pregnancy and initiates her into the criminal underworld. Humphrey Molls son by the husband who was also he r brother. She meets him with an overwhelming affection on her return to America, and he very generously helps her get established there.

Free Essays on The History Of Rock And Roll

HISTORY OF ROCK AND ROLL For many years, people have been listening to rock and roll music, and not knowing where it originated from. Truthfully, it wasn't just a sudden thing. It came from the combination of various styles and cultures. Through years of development we now have a very defined sound that is now known as "Rock and Roll." Some roots and influences of the music are such genres as blues, rhythm, bluegrass, "boogie-woogie', gospel, jazz, and rockabilly. As well all know, the music came from the people of the time as well. Let's start with the early fifties. This was right after WWII and the world was recovering. People had new freedoms and ideas in their heads. Now people were free to pursue individual interests while being guilt free. Although along with this, separation of the races began again, and the music that people wrote and played reflected upon what was going on in society. Big Bands lost their edge and now people were more focusing on individual vocalists. An Alabama White Citizens' Council Member was once quoted saying "We've set up a 20-man committee to do away with this vulgar, animalistic, nigger rock and roll bop." For now, the fear of communism and for some whites, the fear of an independent-minded black society came at the same time. Since they both threatened the status quo, any cross-cultural performance took on the appearance of being subversive. This totally restricted black music flourished while white music languished of its self imposed limitations Soon enough at the hands of black innovators, country music came into being very urbanized and electric, and gospel transformed into "doo-wop." Big bands branched off into smaller divisions and changed their sound quite a bit, some into be-bop and some into what is now known as R&B. Still at this time though, artists such as Pat Boone, Rosemary Clooney, and Perry Como were at the very top of the pop charts. Yet, all that white American complace... Free Essays on The History Of Rock And Roll Free Essays on The History Of Rock And Roll HISTORY OF ROCK AND ROLL For many years, people have been listening to rock and roll music, and not knowing where it originated from. Truthfully, it wasn't just a sudden thing. It came from the combination of various styles and cultures. Through years of development we now have a very defined sound that is now known as "Rock and Roll." Some roots and influences of the music are such genres as blues, rhythm, bluegrass, "boogie-woogie', gospel, jazz, and rockabilly. As well all know, the music came from the people of the time as well. Let's start with the early fifties. This was right after WWII and the world was recovering. People had new freedoms and ideas in their heads. Now people were free to pursue individual interests while being guilt free. Although along with this, separation of the races began again, and the music that people wrote and played reflected upon what was going on in society. Big Bands lost their edge and now people were more focusing on individual vocalists. An Alabama White Citizens' Council Member was once quoted saying "We've set up a 20-man committee to do away with this vulgar, animalistic, nigger rock and roll bop." For now, the fear of communism and for some whites, the fear of an independent-minded black society came at the same time. Since they both threatened the status quo, any cross-cultural performance took on the appearance of being subversive. This totally restricted black music flourished while white music languished of its self imposed limitations Soon enough at the hands of black innovators, country music came into being very urbanized and electric, and gospel transformed into "doo-wop." Big bands branched off into smaller divisions and changed their sound quite a bit, some into be-bop and some into what is now known as R&B. Still at this time though, artists such as Pat Boone, Rosemary Clooney, and Perry Como were at the very top of the pop charts. Yet, all that white American complace...

The Great Tangshan Earthquake of 1976

The Great Tangshan Earthquake of 1976 The magnitude 7.8 earthquake that struck Tangshan, China on July 28, 1976, killed at least 242,000 people (the official death count). Some observers place the actual toll as high as 700,000. The Great Tangshan Earthquake also rocked the seat of Chinese Communist Party power in Beijing - both literally and politically. Background to the Tragedy - Politics and the Gang of Four in 1976 China was in a state of political ferment in 1976. The Party Chairman, Mao Zedong, was 82 years old. He spent much of that year in the hospital, suffering several heart attacks and other complications of old age and heavy smoking. Meanwhile, the Chinese public and the western-educated Premier, Zhou Enlai, had grown weary of the excesses of the Cultural Revolution. Zhou went so far as to publicly oppose some of the measures ordered by Chairman Mao and his coterie, pushing for The Four Modernizations in 1975. These reforms stood in marked contrast to the Cultural Revolutions emphasis on a return to the soil; Zhou wanted to modernize Chinas agriculture, industry, sciences, and national defense. His calls for modernization incurred the wrath of the powerful Gang of Four, a cabal of Maoist hardliners headed by Madam Mao (Jiang Qing). Zhou Enlai died on January 8, 1976, just six months before the Tangshan Earthquake. His death was mourned widely by the Chinese people, despite the fact that the Gang of Four had ordered that public grief for Zhou should be down-played. Nonetheless, hundreds of thousands of defiant mourners flooded into Tiananmen Square in Beijing to express their sorrow over Zhous death. This was the first mass demonstration in China since the founding of the Peoples Republic in 1949, and a sure sign of the peoples rising anger against the central government. Zhou was replaced as premier by the unknown Hua Guofeng. Zhous successor as the standard-bearer for modernization within the Chinese Communist Party, however, was Deng Xiaoping. The Gang of Four rushed to denounce Deng, who had called for reforms to raise the living standards of average Chinese, allow more freedoms of expression and movement, and end the rampant political persecution that was practiced at that time. Mao fired Deng in April of 1976; he was arrested and held incommunicado. Nevertheless, Jiang Qing and her cronies kept up a steady drumbeat of condemnation for Deng throughout the spring and early summer. The Ground Shifts Beneath Them At 3:42 am on July 28, 1976, a magnitude 7.8 earthquake struck Tangshan, an industrial city of 1 million people in northern China. The quake leveled about 85% of the buildings in Tangshan, which had been built on the unstable soil of the Luanhe Rivers flood plain. This alluvial soil liquefied during the quake, undermining entire neighborhoods. Structures in Beijing also sustained damage, some 87 miles (140 kilometers) distant. People as far away as Xian, 470 miles (756 kilometers) from Tangshan, felt the tremors. Hundreds of thousands of people lay dead after the quake, and much more were trapped in the rubble. Coal miners working deep underground in the region perished when the mines collapsed around them. A series of aftershocks, the most powerful registering 7.1 on the Richter Scale, added to the destruction. All of the roads and rail-lines leading into the city were destroyed by the quake. Beijings Internal Response At the time the earthquake struck, Mao Zedong lay dying in the hospital in Beijing. As tremors rippled through the capital, hospital officials rushed to push Maos bed to safety. The central government, headed by the new premiere, Hua Guofeng, initially knew little of the disaster. According to an article in the New York Times, coal miner Li Yulin was the first to bring word of the devastation to Beijing. Dirty and exhausted, Li drove an ambulance for six hours, going right up to the party leaders compound to report that Tangshan had been destroyed. However, it would be days before the government organized the first relief operations. In the meantime, the surviving people of Tangshan desperately dug through the rubble of their homes by hand, stacking the corpses of their loved ones in the streets. Government planes flew overhead, spraying disinfectant over the ruins in an effort to prevent an epidemic of disease. Several days after the earthquake, the first Peoples Liberation Army troops reached the devastated area to aid in rescue and recovery efforts. Even when they finally arrived at the scene, the PLA lacked trucks, cranes, medicines, and other necessary equipment. Many of the soldiers were forced to march or run for miles to the site due to the lack of passable roads and rail lines. Once there, they too were forced to dig through the rubble with their bare hands, lacking even the most basic tools. Premiere Hua made the career-saving decision to visit the affected area on August 4, where he expressed his sorrow and condolences to the survivors. According to London University professor Jung Changs autobiography, this behavior contrasted starkly with that of the Gang of Four. Jiang Qing and the other members of the Gang went on the air to remind the nation that they shouldnt allow the earthquake to distract them from their first priority: to denounce Deng. Jiang also publicly stated that There were merely several hundred thousand deaths. So what? Denouncing Deng Xiaoping concerns eight hundred million people. Beijings International Response Although the state-run media took the unusual step of announcing the catastrophe to Chinas citizens, the government remained mum about the earthquake internationally. Of course, other governments around the world were aware that a significant earthquake had taken place based on seismograph readings. However, the extent of the damage and number of casualties was not revealed until 1979, when state-run Xinhua media released the information to the world. At the time of the quake, the paranoid and insular leadership of the Peoples Republic refused all offers of international aid, even from such neutral bodies as the United Nations aid agencies and the International Committee of the Red Cross. Instead, the Chinese government urged its citizens to Resist the Earthquake and Rescue Ourselves. Physical Fallout of the Quake By the official count, 242,000 people lost their lives in the Great Tangshan Earthquake. Many experts have since speculated that the actual toll was as high as 700,000, but the true number will probably never be known. The city of Tangshan was rebuilt from the ground up, and now is home to more than 3 million people. It is known as the Brave City of China for its swift recovery from the catastrophic quake. Political Fallout of the Quake In many ways, the political repercussions of the Great Tangshan Earthquake were even more significant than the death toll and physical damage. Mao Zedong died on September 9, 1976. He was replaced as Chairman of the Chinese Communist Party, not by one of the radical Gang of Four, but by Premiere Hua Guofeng. Buoyed by public support after his show of concern at Tangshan, Hua boldly arrested the Gang of Four in October of 1976, ending the Cultural Revolution. Madam Mao and her cronies were put on trial in 1981 and sentenced to death for the horrors of the Cultural Revolution. Their sentences were later commuted to twenty years to life in prison, and all were eventually released. Jiang committed suicide in 1991, and the other three members of the clique have since died. Reformer Deng Xiaoping was released from prison and politically rehabilitated. He was elected Party Vice Chairman in August of 1977 and served as the de facto leader of China from 1978 through the early 1990s. Deng initiated the economic and social reforms that have allowed China to develop into a major economic power on the world stage. Conclusion The Great Tangshan Earthquake of 1976 was the worst natural disaster of the twentieth century, in terms of loss of life. However, the earthquake proved instrumental in ending the Cultural Revolution, which was one of the worst man-made disasters of all time. In the name of the Communist struggle, the Cultural Revolutionaries destroyed the traditional culture, arts, religion, and knowledge of one of the worlds most ancient civilizations. They persecuted intellectuals, prevented the education of an entire generation, and ruthlessly tortured and killed thousands of ethnic minority members. Han Chinese, too, were subject to hideous mistreatment at the hands of the  Red Guards; an estimated 750,000 to 1.5 million people were murdered between 1966 and 1976. Although the Tangshan Earthquake caused tragic loss of life, it was key in bringing an end to one of the most horrific and abusive systems of governance that the world has ever seen. The quake shook loose the Gang of Fours hold on power and ushered in a new era of relatively increased openness and economic growth in the Peoples Republic of China. Sources Chang, Jung.  Wild Swans: Three Daughters of China, (1991). Tangshan Journal; After Eating Bitterness, 100 Flowers Blossom, Patrick E. Tyler, New York Times (January 28, 1995). Chinas Killer Quake, Time Magazine, (June 25, 1979). On This Day: July 28, BBC News Online. China marks 30th anniversary of Tangshan quake, China Daily Newspaper, (July 28, 2006). Historic Earthquakes: Tangshan, China U.S. Geological Survey, (last modified January 25, 2008).

News Media use and political Communication - you have to analyse a Essay

News Media use and political Communication - you have to analyse a paper that I am attaching - Essay Example The study aims to prove the importance of studying mediation in the study of the relationship between media and polities. A wide variety of literature ranging from Holbert & Stephenson 2003, Lazarsfeld, Berelsen & Gaudet 1948, McLeod, Kosicki, and McLeod 2002 are mentioned to show how intra-media mediation is overlooked in the traditional study of political communication and media. The writer finds the importance of his study in the fact that other studies in the same field have not taken intra-media mediation into consideration. The previous studies largely overlooked the fact that the relationships among various forms of media may enable media to function as mediators of each other. In fact, the study is an extension of the O-S-O-R model of media as the basis for the media-related political communication. However, this new work presents an O-S-S-R framework which allows one set of stimuli to influence another set of stimuli, thus taking the intra-media mediation into consideration. The benefit of this framework is that it can be expanded to include the multiple stages of variables located in between the two sets of stimuli and after the latter stimuli. The study is based on the assumption that the best predictor of a given type of media use at a later time is its use at a previous time. So, the research has its hypotheses to show the cumulative nature of media use. The first two hypotheses can be summarized as follows: Television/newspaper use at former time positively influences television/newspaper use at later time. Now taking into consideration the fact that the use of one form of media can lead to the use of other forms of media too, the third and fourth hypotheses take birth: television use at a former time positively influences newspaper use at a later time, and newspaper use at a former time positively influences television use at a later time. Another point of consideration is the fact that at the heart of presidential election campaign, increased kn owledge will be available through media about endorsement. So, the fifth and sixth hypotheses are: television news at a later time influences candidate endorsement knowledge, and newspaper use at a later time positively influences candidate endorsement knowledge. Now, to show the intra-media relationships, a combination of hypothesis are used: television news at a later time serves as a mediator in the relationship between television use at a former time and candidate endorsement knowledge, and newspaper use at a later time serves as a mediator in the relationship between newspaper use at a former time and candidate endorsement knowledge. In addition, television news at a later time serves as a mediator in the relationship between newspaper use at a former time and candidate endorsement knowledge, and newspaper use at a later time serves as a mediator in the relationship between television use at a former time and candidate endorsement knowledge. As a part of the study, the informat ion was collected in two phases. The first phase (the former time) was from July 21 to August 13, 2000 and the second phase (the later time) was from October 18 to October 31, 2000. The first phase was before the Gore-Bush debate of October 17 and the second phase was after Gore-Bush debate, or at the heart of the election campaign. The questions asked were related to the audience’

Sustainability Assignment Example | Topics and Well Written Essays - 2500 words

Sustainability - Assignment Example Significantly, the economy necessitates people consume in order to maintain healthy growing. As such, every day numerous marketing campaigns are prophesying about their commodities and before we get aware, the market is filled with commodities much of which people quickly forget. Notably, people like consuming and their consumption is engrained as a social activity that numerous people participate. Globally, people consume 30% resources beyond what the earth can replenish (Brebbia 2010). It is significant noting that, the developed countries are the west in offending. Therefore, if each continent is to consume at the European and the Americans’ rate, the planet earth can hardly sustain the people. Currently, we face numerous challenges, such the climatic change, biodiversity loss, accelerating social inequalities, changing demographics, and demands for basic commodities. However, the UK Government has set a complex legally binding carbon reduction policy. Accordingly, there is the need to adopt societies, as well as, economies to sustainable consumption patterns that portray at least low carbon, efficiency in resources, and profitability. Generally, retail businesses play critical roles in responding to demands of consumers hence their principal business controller. However, it cannot deliver the contagious changes; thus we need the creation of prosperous, and resource- efficient world. Additionally, numerous consumers possess inadequate information, motivation, and opportunity; hence they cannot make sustainable choices about buying practices and use of products. Concisely, sustainable consumption is still a niche and numerous companies make mere incremental improvements. Co nsequently, the leading brands must take the initiative and collaborate in order stimulate the pull of consumers on sustainability; hence make sustainable consumption mainstream.

History of Exxon Essay Example | Topics and Well Written Essays - 250 words

History of Exxon - Essay Example The Standard Oil Company in 1899 became the holding company for all corporations listed under the trust, but was order by the U.S. Supreme Court in 1911 to separate from 33 American subsidiaries. In 1972, Standard Oil Company (New Jersey) changed its name to Exxon Corporation with other subsidiaries and affiliates, including Humble also adopting the name Exxon. Exxon had established itself in every phase of oil industry before merging with Mobil Company in 1999. Exxon dealt in oil transport via pipelines and also owns a largest fleet of tankers in relation to its peers. Exxon Mobil Corporation comes second after BP as the world largest integrated oil firm. The company runs oil and gas discovery, production, haulage as well as marketing in over 200 countries around the world (ExxonMobil, n.d). The company is also a major player in manufacturing of petrochemicals (Rienstra, Linsley & Beaumont Chamber of Commerce, 2003). In 2014 quarter 4, Exxon Mobil recorded a higher decrease in total revenue year on year by -22.22 percent, which was faster compared with its competitors’ overall decrease of -16.91 over the same period. Exxon Mobil also recorded a net margin of 7.64 percent, thus achieving higher profitability compared to its competitors, including Royal Dutch Shell, BP, and Chevron (CSIMarket,

Marketing-Defining a Communication Plan Essay Example | Topics and Well Written Essays - 500 words

Marketing-Defining a Communication Plan - Essay Example Graves Enterprises is doing well in its business activities in the market while it has been focusing attention on business expansion and develop a new customer base for their for their consumer products. However its business operations in particular require the company to adopt far reaching changes to the existing communication strategy and its orientation. Any communication strategy must have a customer retention focus that will ultimately produce the desired results. While this would effectively address the concerns raised by the consumer marketing director, there would be a greater degree of structural changes in communication within and without the organization (Zambardino, 2003). 47% of customers being retained would have a positive impact on revenue and profit related outcomes of the company. However $ 2 per unit in gross profit means nothing in the absence of the breakeven figures. The company may have lot of financial commitments by way of sales cost and therefore the net profit margin can be considerably reduce if the 47% customer retention plan fails. Thus the advertising campaign must be not only focused on the core customer base but also be extended to include the peripheral customer whose retention matters in the long term. As the Marketing Director commercial products suggests the current cash cows of the company would be compelled a carry a greater burden if the slow growth market tend to cash unexpectedly. The company might have a lot of problem children and dogs and as a result there might be a few cash cows and stars. Assuming the communication strategy as based on advertising works out successfully, the net return on the investment must be proportionately higher (Percy, 2008). In other words per unit advertising cost must be much less to support cash cows to move in to sustainable long term profitable stars. Thus the marketing communication plan of the company must be based on a proper alignment of the Boston Matrix with the

Starbucks Coffee Company Essay Example | Topics and Well Written Essays - 1250 words

Starbucks Coffee Company - Essay Example Board of Directors. Starbucks Coffee Company was actually established by three of the partners in the year 1971 but at present there are in total ten members in the Starbucks’ Board of Directors (Starbucks Corporation, â€Å"Starbucks Corporation Board of Directors†). All the members of the Board of Directors possess a distinct background. The present Chief Executive Officer (CEO) Howard Schultz was the Chairman, Chief Executive Officer and President of Il Giornale Coffee Company. William Bradley was the managing director of an investment banking firm. The other director Mellody Hobson was also the president of an investment management firm. Apart from these three directors, the other seven directors also acquired respectable positions in the various management firms or other industries. Most of the board of directors is serving the coffee company since 1990 till the present day. The members of the board of directors have been ascertained to be reputed individuals in th e country. In the strategic management process, Howard Schultz occupies the key responsibility as a leader to direct different activities. It has been determined that the different members in board of directors were selected based on their merit and immense experience in the corporate world. Top Management. The board of directors was mainly hired from the other firms except the three founders of the company who were also acting as the directors. The three of the founders also the directors were the top management in the company and possessed immense knowledge and experience in the related field as they have long been serving the coffee company. The Chief Executive Officer of Starbucks, Howard Schultz is an American, born in the year 1953. Initially, he was serving as a sales trainee at Xerox. After three years, he had joined a Swedish company which sold coffee maker to the retailers in the market. In the meantime, he had visited Starbucks for selling the machine. After the visit, he was attracted to the company and wished to be a part of their long-term ventures. Thus, in 1982, he joined Starbucks as a director of retail operations and marketing (Wheelen and Hunger 471-475). VII. IMPLEMENTATION Starbucks Coffee Company had opted for international expansion and thus in 19 94 Starbucks International was formed. Initially, it had expanded its business in the Asian countries of the world such as Japan and China. The aim of their expansion was to create a desire to prefer the western brands among the consumers, to make certain strategies to compete effectively with their competitors and to gain the position of the highest coffee seller. In the past few years, it has also been viewed that the company is trying to expand its business in India. Initially, when the concerned officials had visited India they were unable to find the appropriate partner for entering the Indian market. During this period of time, India was going through a number of economic changes such as the reduction of the tariffs, along with dealing with the government policies as well as the liberalization of the foreign investment. These changes had also discouraged the officials of the Starbucks and the other facet that was noticed that the consumption of coffee was stable up to 50,000 t ons since 1996. There were other renowned coffee sellers

Marketing-Defining a Communication Plan Essay Example | Topics and Well Written Essays - 500 words

Marketing-Defining a Communication Plan - Essay Example Graves Enterprises is doing well in its business activities in the market while it has been focusing attention on business expansion and develop a new customer base for their for their consumer products. However its business operations in particular require the company to adopt far reaching changes to the existing communication strategy and its orientation. Any communication strategy must have a customer retention focus that will ultimately produce the desired results. While this would effectively address the concerns raised by the consumer marketing director, there would be a greater degree of structural changes in communication within and without the organization (Zambardino, 2003). 47% of customers being retained would have a positive impact on revenue and profit related outcomes of the company. However $ 2 per unit in gross profit means nothing in the absence of the breakeven figures. The company may have lot of financial commitments by way of sales cost and therefore the net profit margin can be considerably reduce if the 47% customer retention plan fails. Thus the advertising campaign must be not only focused on the core customer base but also be extended to include the peripheral customer whose retention matters in the long term. As the Marketing Director commercial products suggests the current cash cows of the company would be compelled a carry a greater burden if the slow growth market tend to cash unexpectedly. The company might have a lot of problem children and dogs and as a result there might be a few cash cows and stars. Assuming the communication strategy as based on advertising works out successfully, the net return on the investment must be proportionately higher (Percy, 2008). In other words per unit advertising cost must be much less to support cash cows to move in to sustainable long term profitable stars. Thus the marketing communication plan of the company must be based on a proper alignment of the Boston Matrix with the

Nuclear weapons should be abolished Essay Example | Topics and Well Written Essays - 1000 words

Nuclear weapons should be abolished - Essay Example In addition, other nations have joined the nuclear weapons development bandwagon and are in the process of developing an arsenal of nuclear weapons, which can bring catastrophic losses of high magnitude. While realizing the fact that abolishing nuclear weapons does not fully guarantee a safe, secure, and peaceful world, this expose posits that abolishing nuclear weapons is a positive step towards guaranteeing a secure and safe world. It is crucial to note that, one reason that led to superpowers obtaining and building up their reserves of nuclear weapons was in order to deter their competitors from starting a full-blown nuclear war. According to Parrington, such a strategy in military parlance is the strategy of Mutually Assured Destruction (MAD). Parrington notes that, the operational doctrine of MAD aims at two nations employing a military strategy in which the two can totally annihilate each other in case of a full-blown war using weapons of mass destruction. Thus, this remains the main reason that the world has witnessed the proliferation of nuclear weapons with new countries building up their reserves preparing for any eventuality. However, there is a growing concern amongst the leaders of the world on the weapons landing in arms in the arms of terrorists and dictators. While the former USSR and USA were the pioneers in nuclear weapons, many countries have stepped up efforts towards building their nuclear m ight. Some of these countries include Iran and North Korea, which form an axis of countries branded as a danger to world peace and stability. Currently, countries have adequate nuclear weapons to annihilate each other, which by extension can result to a total annihilation of the world. Nevertheless, there is no assurance that the Mutually Assured Destruction strategy would work in the modern days since there lacks existence of a balance of power. On the other hand, rogue states may develop nuclear weapons and use them to strike other nations,

Strange pulsing pain Essay Example for Free

Strange pulsing pain Essay Emily Finkle, age 14: I got very used to the jingle of chains every time I walked out of the mines to have a breath of fresh air. The mines were not as friendly to breathing as the air outside. My reflection on the polished surfaces of the water canteens often looked like an inverted skull with my nose blackened by coal dust. We all work together here in a mine in the West of Wales; boys my age toting bags of coal from inside the mine passing us, young girls bashing away at the hard rock walls to get to the coal beneath. We all wore the same clothes, whether girl or boy; trousers soiled by the black gold that we were drawing for people who sat on cushioned chairs smoking cigars, driving their fancy automobiles and eating cheeses of different kinds. The only food we had to eat most of the time was cold porridge and a few pieces of rotten fruit – fruit rots faster in the mines where the heat is trapped by the small openings and the packet of dense air hovering at every cavern opening. The sound of chains jingling as others passed us seemed like hypnotic chimes beating in tune with each strike of the pick. I barely see the sun. I am in the mine before the sun rises and out of the mine when the sun has long gone down into the horizon. I have accustomed my eyes to the flicker of the lamps we carry into the mines; lamps that cast eerie shadows with every movement we all make. The older children always told me to never sing in the mines or I would die. I wore a piece of cloth over my face all of the time to keep me from singing even when I was happy that my mama had recovered from the flu. Edna, the girl my age who picked at the mine walls just beside me sang once. She didn’t come back the following morning. Perhaps the older children were right about singing in the mines. Edna never came back to the mines again. I heard she had become thin and sickly and spat blood. Word had gone out that Edna came down with coal fever and died only a few months after singing in the mines. There are dark spirits in the mines they say – spirits that hate the sound of children’s singing voices. So, nobody ever sings in the mines. I’ve never worn a nice dress since I began working in the mine. I don’t know what hide and seek is. I do know what hide is though – this is what we do in the mines when the big brutes come running in with large leather whips. The often use the whips on the boys – we aren’t allowed to cry, lest the dark spirits get into our open mouths. We whimper, but we try to keep our mouths closed when we get our share of whipping. There’s no point in opening our mouths to the lashes; better to shrivel in pain than to die altogether. My canvass shoes are worn at the soles from walking up to the mine entrances every day. I cannot complain or I would get a heavy lashing. If we complain we do not get our porridge, or worse, our rest. Sometimes I don’t know where I am bleeding from. My fingers often bleed when shards of rock shatter from picking piercing the young skin on my knuckles. Sometimes the beige dust on the cavern floors turns brown under my feet from the blisters on my soles. I can’t feel the pain that much. I have become so used to the pain that I can tolerate it quite successfully, like I tolerate the whips or the pangs from not having anything to eat sometimes. I often think about leaving the mine, especially at nights when I am on my back staring at the stars. The stars always stare at me and sometimes they shed a tear or two. Maybe the stars are also tired from being hung up high in the night. I wonder – are the stars chained to the heavens too? Do they also spend eternities picking away at the blackness of night to draw out more of whatever it is they need to draw? I wonder. Today the mines are still where I am headed. The steep slopes have become more challenging today because of a strange pulsing pain in my belly. I don’t know is wrong with me, but I cannot complain, I cannot get lashed by the big brutes. I find it hard to drag my chained feet up the sides of the slope with my footwear almost clear of its fabric soles. The pain in my soles is not a matter of concern; I have become so used to it; but the pain in my belly is strange, I don’t know what is wrong with me and what I need to do to make it go away. I must find a way and ward the pain away before we enter the mines. I have to take a quick drink. I cannot though, there is only enough water for five drinks – one when we get to the mines, two at luncheon, another at dinnertime, and a last gulp before going to sleep in the camps. If I drink now, I will have nothing to drink at these times. I cannot – must not drink. The pain will go away. I will have to make it go away by thinking about the stars; how long they have been up there and the pains they must endure just to shine night after night after night. The stars are used to their pain, I have to get used to this pain like the way I am used to the other pains I have – the blisters on my soles, the fresh wounds on my knuckles, the nagging ache at my temples. These are just pains – I have to draw coal even when I often forget where on me does the coal mine draw blood. I have to pick and pick more, draw and draw more even with the pain in my belly. I must not open my mouth and groan or the dark spirits might enter my mouth like they did with Edna. I must not sing. I must work. I must not complain. Just before noon, I felt a warm viscous fluid trickle down my thighs underneath my trousers. This is the first time I felt something like this – I was scared the spirits might have found a way into me. I gazed down at my trousers in the flicker of the mine lamps. I can see a dark trail on my trousers – blood. I don’t know where this came from, but it was blood.

Irelands Sovereign Debt Crisis

Irelands Sovereign Debt Crisis Both the Fed and the ECB use similar tools to implement monetary policy, although some differences do exist between the method used to manage the money and influence short term interest rates (Cecchetti OSullivan, 2003). The fed conduct an overnight repurchase agreements (repos) which are made of collateralized loans. The fed provide reserves to a small number of designated dealers in exchange for government securities, and agree to reserve the transaction at a future date. The Fed decide each morning the level of reserves to supply, by forecasting the demand of reserves the goal by doing so is to keep the federal funds rate as close to its target as possible. However, in case of sustained increases in reserves demand the Fed purchases government securities outright in the secondary market.   With the reserve requirements, the Fed has another tool to stabilize the demand for reserves and also it makes it easier to control the fed funds rates. At the same time the discount rate gives us the cost of funds available to banks to borrow through the discount window. Banks are obliged to finish all other sources of financing before going to discount window. Although funds in the discount window are a vailable at a rate lower than the market rate, borrowing in the discount window is perceived as the bank being in trouble. According to the definition from Wikipedia, An open market operation (OMO) is an activity by a central bank to give (or take) liquidity in its currency to (or from) a bank or a group of banks. The central bank can either buy or sell government bonds in the open market (this is where the name was historically derived from) or, which is now mostly the preferred solution, enter into a repo or secured lending transaction with a commercial bank: the central bank gives the money as a deposit for a defined period and synchronously takes an eligible asset as collateral (Open market operation, 2017). From the perspective of the Federal Reserve and the European Central Bank (ECB), identify and explain how the short term policy rate is implemented as part of monetary policy. Describe identifiable economic target variables that these central banks attempt to control and the degree of transparency applied in implementing policy. Incorporate a discussion of how operating procedures and institutional practice are managed in the respective jurisdictions (U.S. and Eurozone). Make reference to Wikipedias description of Open Market Operations. Compare and contrast where appropriate. Make reference to Taylor (1993), The Cecchetti Chapters 15 and 16. During the two decades before 2007, the Irish economy made a significant progress through implementation of wide range of policies. Those policies helped the country to stimulate productivity. The country industrial policies focused successfully on encouraging export-oriented foreign direct investment. Adding to that the country focused on improving education with large expansion of the third level sector. As result of those policies, the Irish economy outpaced advanced economies, and its labor productivity was not far from US by mid-2000. The country put a lot of people into work during the Celtic Tiger, for a country that did not have a lot of institution it was a huge labor participation. In the late 1980 the country had 1.1 million of people at work but by 2007 It grew to 2.1 Million. While the country in late 1980 had a low rate of labor force participation, from mid-1990 onwards Irish people who lived abroad started to take job at home. Due to that the Irish economy became incr edible employment creating machine. The country lowed tax rates and raised public spending. Given that; the country experimented a very gracious growth, and at the same time it had sufficient tax revenue to generate budget surplus. While the country was wishing for that period to last forever, things did not go like that and the bubble popped in 2007. Factors that contributed to Irelands Sovereign debt crisis Huge deficit: Banking crisis:   International borrowing of the 6 mains banks in Ireland rose from less than 15billion in 2003 to almost 100 Billion by 2007the credit boom and acceleration of housing activity were all financed by the Irish banks. Whelan (2011) stated that prior to 2003 they operated normally, with the boom they changed strategy and increased their property lending at rapid rates and financed much of this expansion with bonds issued to international investors. That created a huge exposure of the Irish banks to property developers, as the only way for the banks to get their money back was if the housing price kept increasing. As most of the property developers found misfortune during the collapse of the housing boom, it was difficult for those banks to get their money back and at the same time they found it hard to raise funds on bond markets as international investors became concern about their exposure. In what ways is Ireland Sovereign Debt Crisis akin to the crisis experienced in other Eurozone jurisdictions. In what way is it different? As Ireland a lot of countries in the Eurozone were operation a debt/GDP ratio above 90% prior to 2000, and with joining the Eurozone and changing currency some of them saw a growth of the economy in a way they were not expecting. The major banks of the Eurozone were all highly exposed to the losses in the US market in asset-backed securities. The end of the credit boom saw the economy growth of countries that were benefiting from it slowed down, they saw a fall in their fiscal revenues. The banking sector of some of the Eurozone countries deteriorated in way that for the outside world investors they posed fiscal risks. At one point they represented such a risk for the overall euro that they were shout out of the bond market. While the crisis experienced by other countries in the Eurozone was in some way similar to Ireland, the difference was the other countries were running large and sustained external deficits. However, in Ireland the government through the boom of the housing market focused less on taxing income taxes but most of the revenue of the government was from taxing the property developing market. According to Philip R. Lane (2012) in Ireland the government was not a net borrower during 2003-2007 while in countries like Portugal and Greece the government and corporations were both significant borrowers. Lane (2012) argued that the origin and propagation of the European sovereign debt crisis can be attributed to the flawed original design of the euro. While the euro area enjoyed years of happiness and growth, it was a half concept since from the beginning it was built of the Dollar union. There was an incomplete understanding of the fragility of a monetary union during crisis. Furthermore, it was created without a significant degree of banking union or fiscal union. While originally the monetary union was designed to tackle the over-borrowing of some countries, retaining national responsibility for financial regulation and fiscal policy never took away the risks some countries was building from years. With the euro, the fiscal risks increased before the crisis as the euro made finance available to countries which already had problem controlling their debt/GDP ratio. During the crisis it was more difficult to save the banks, and also the fiscal costs of rescuing them increased. If the euro was same as the dollar, the monetary union would have been out of the crisis quicker than what actually happened. The single currency took away the tools for a country to adjust its economy during time of crisis. First, cutting the interest rates to stimulate demand, but at the start of the crisis the ECB did the opposite and raised the interest rate, which put countries like Ireland, Portugal, Spain, Greece and others in a bad position. The second was to devaluate the currency in order to boost exports. While most countries that were hit at the same time as Euro managed to recover from the financial crisis, the difficulty of pulling the same trick failed here as the recovery is slow and some of the euro countries still hang on the edge of collapsing. Definition and Characteristics of hedge funds It is not clearly defined what hedge funds are, but different typical characteristics are enumerated in order to give some clarification on what they were. Stulz (2007) defined them as unregulated pools of money managed by an investment advisor, the hedge fund manager, who has a great deal of flexibility. Cottier, 2000 and Jakobsons, 2002 agreed with Stulz, 2007 on the fact that they are all form of investment funds, companies and private partnerships that use derivatives for directorial investing. Those investments are permitted to go short and also use a substantial leverage through borrowing. Hedge funds have a limited number of investors who can participate, and also they cannot make public offering in order to avoid regulation. Ahedge fund is typically a collection of funds managed by the hedge fund manager-typically through a separately organized company, the management company (Stulz, 2017). Hedge fund managers focus on maximise the increase in investment value rather than sim ply perform better than average. They are paid based on the amount of wealth increase they made, and most of their compensation depends on giving investors a positive absolute return. Stulz (2007) argued that the hedge fund industry may have played more of a role in creating liquidity and making markets efficient than the mutual fund industry. The hedge fund industry could do so because it was generally not regulated, so that funds were free to take whatever positions they wanted and to make full use of financial innovations. As hedge funds are enormously free from regulations that hold back mutual funds to operate at the best capacity, they have developed a better sophisticated, unconventional and proprietary investment strategies. Hedge fund means that risks are being hedge in order, but for some hedge funds take an aggressing approach with no particular hedging policy. The fees of a hedge funds are higher and depend on the performance which distinguishes them from mutual funds. Certain funds do not have the opportunity to take short positions, invest in derivatives but investing in hedge funds give them a simple way to expand their scope of investing. Hedge fun ds managers are given the chance to search for profitable opportunities that other investors do not have the resources or expertise to find. Looking at the track of top hedge funds managers, we can affirm that they very much found these opportunities. Hedge funds often make profits by providing liquidity to the markets by buying securities that are temporarily depressed because of market disruptions (Stulz, 2017). Furthermore, a hedge fund manager focuses on achieving absolute returns by finding as many profit opportunities as possible that are immune to market gyrations-in industry lingo, generating alpha (returns uncorrelated to market performance) rather than beta(imf, 2017). According to Duffie and Stein (2015) how was LIBOR manipulated by Banks and Traders? What solutions do they propose? From definition, LIBOR is the London Interbank offered Rate, it is a daily fixed rate used by the banks to borrow between each other. LIBOR play a central role as benchmark in modern financial markets. During the financial crisis of 2007-2009, banks were more concerned on the image they sent to the world. None of them wanted to be seen as creditworthy than others. As result from such behavior, when the banks were polled to produce LIBOR, some understated their costs. Which is known as a form of manipulation. In other cases, traders looking for profit on a position would ask bank officials to bias their reports. By doing so they would cause the benchmark to move one way or the other. In some instances, more significant distortions were achieved through collusion that coordinated the misreporting among several banks (Duffie Stein, Spring 2015). Various policymaking group that acknowledged the manipulation problem associated with LIBOR believed that it would be in the best interest of financial market to part away with the current practice. They wanted to change from the fixing LIBOR rates using judgmental submissions from a panel of banks something more secure. According to Duffie and Stein (2015) different types of solution might be worth looking into. They acknowledge that a transition from the current methodology to something might be hard to do but necessary if we wanted to tackle the problem. Their first solution was using the interest rates set by the Federal reserve as benchmark. The federal reserve set two rates: the rate it pays to banks on their excess and the overnight reserve repurchase rate. Because those rates are used to implement monetary policy and are set by Federal reserve they are shield from manipulation. Another solution they put forward was the use of the rate on short-term treasury bills. While this market is not manipulation-proof, it is certainly much deeper and more active than the market for unsecured bank borrowing (Duffie Stein, Spring 2015). Although this solution may provide some benefits, in some moments of stress on the economy they realised that investors tend to walk away from it. However, they concluded the merit in using should make us give some careful consideration. Treasury general collateral risk repo rate is another near-riskless rate they argued might be a solution. It is made of the average rate at which dealers acquire overnight financing secured by treasury securities. It is a market that is highly liquid and as the treasury bill, we would expect general collateral repo rates to be robust to manipulation. The last one is the overnight index swap, according to Duffie and Stein (2015) it pays a predetermined fixed interest rate in exchange for receiving the compounded daily federal funds rate over the 3-months term of the contract. An advantage of OIS is that it does not incorporate the same kind of safe-haven premium as Treasury bills (Duffie Stein, Spring 2015). A liquid derivatives market has an incentive of manipulation from the participants using the underlying benchmark. As big as the derivatives market is, one should expect a flaw in efficiently operating in and manipulation should be considered as the inevitable cost of doing business.   Cause reforming the whole system at this point would cost a lot money and time and would not necessary tackle the problem. According to Armour et al (2011) what has been the impact of bank fines on Banks. Explain the event study methodology as proposed by Armour et al (2011) to determine the impact of bank fines. as stated by Armour, Mayer and Polo (2011) a firms reputation reflects the expectations of partners of the benefits of trading with it in the future. They believed certain types of revelation may be expected to impact negatively on trading parties expectations of a firms future performance. An announcement by a regulator that a firm has engaged in misconduct may constitute precisely this type of revelation. They observed that the penalized firms stock prices experience statistically significant abnormal losses of approximately nine times the fines and compensation paid. They interpreted the fall in equity market value in excess of mandated payments as the firms reputational loss (Armour, Mayer, Polo, 2017). They used the statistical method to assess the impact of the public announcement of misconduct on the value of the firms. It was done in order to see how the investors respond to such news about the firms. The basic idea is to calculate the irregular price reaction around the event, using the market model as benchmark model for normal returns. They used a pioneer methodology by Fama et al (1969) which evaluates the reaction of stock price to the public announcement of misconduct. Adding to that They followed the residual approach used by Jarrel and Peltzman (1985), Karpoff and Lott (1993) and Karpoff, Lee and Martin (2008). Using 260 days period, they analysed the ordinary least square regression of Ri,t, and Rm,t which are the returns on firm is common stocks on day t and the index of market returns on day t. They use this formula Reputational loss = ΆVt Fine Compensation to measure the reputational losses. After getting the 3 days average cumulative abnormal returns of -1.68% which represent an average of the effect of all press statements. Then their sample was decomposed into cases which characterised investors and customers and also third parties in order to see the effect of press statements referring to misconduct that affected them. In the third parties group we had entities like the states, other companies investors. Doing this allows us to see that shareholder wealth effects are highly dependent on this stratification (Armour, Mayer, Polo, 2017). They observed that there is a -2.62% share price drop when the wrongdoing affects the customers and investors, a 0.24% increase when it is third parties. This is consistent with theories which suggest that revelation of information of misconduct by a firm will cause its trading partners its customers and investors to downgrade their assessments of its quality and adversely affect its terms of trade (Armour, Mayer, Polo, 2017). Why is banker pay relevant? Are bankers paid too much for what they are doing as job? Why even after the financial crisis bankers are still paid huge sum of money when other workers in different sectors saw their salaries cut due to the recession? Those are some of the questions that have been bothering people for quite sometimes now. Bebchuk, Cohen and Spamann (2010) performed an analysis using the period of 200-2008. They compared the performance of companies directed by top earning CEO to their salaries. In order to analyze if they were really worth paying those salaries. They found that those companies operated on incentive basis. Those firms bonus compensation structure, gave executives the incentives to seek improvement in short term earning figures even at the cost of losing the investments in the future. Originally the executives take the money and invest them to maximize the profit. The higher the risk the more profit the investments will make. Most executives focus on the bonus they will collect on those investments, the higher the risks they are taking, higher will be the bonus they will collect. And when the investments go bust and turn into massive losses, they still hold on to the bonus they made. Most banks arrange their pay in that way because they want excessive profitability. Most banks will prefer to retain the services of extraordinarily talented traders. In order to attract those people, they are ready to pay substantial premium for their services. In football you have Messi and Ronaldo and the rest follow, same principle with top tr aders (best CEO). The decision bankers make not just affect the bank but the economy as a whole which is why most firms are willing to provide a good incentive in order to be profitable. Also there is a notion that if you pay a banker in a good way it perform better. In the aftermath of the financial crisis of 2008-2009, there widespread beliefs that executive pay arrangements could have encouraged excessive risk-taking and that fixing those arrangements will be important in preventing similar excesses in the future (Bebchuk, Cohen, Spamann, 2017). They argued that during the period 2000-2008, top executives of Bear Stearns and Lehman Brothers cashed large amounts of performance-based compensation. Annual salaries of those top executives have hardly changed, and kept increasing due bonuses. During the crisis, top bankers in 2011 had their pay fully recovered to the point where they were getting more money than before the crisis. If bankers are paid in a competitive labour market and simply rewarded for their talent, there seems little reason for government intervention, at least on efficiency grounds. That was why in late July 2011 the European commission unveiled its proposals known as CRD IV which covered the following area the bonus cap It restricted the senior staff bonuses to 100% of their fixed remuneration in any given year or 200% with agreement of shareholders. It recommended performance pay based on a combination of an assessment of the individual and the overall results of the firm. In addition, performance should be assessed in a multi-year framework in order to ensure that the assessment process is based on longer-term performance and that the actual payment of performance-based components of remuneration is spread over a period which takes account of the underlying business cycle of the credit institution and its business risks (Ferrarini, 2015). the Pay Out Process Rules the de minimis principle While the CRD IV proposed a very good alternative for bankers remuneration, it is apparent that the application of such are doomed to be limited by the sad reality of our world. It has said the bonus cap is counter-productive, because it drives up fixed pay, reduces firms cyclical cost flexibility and perversely makes material risk takers less personally accountable for risk management failures, by reducing the proportion of their pay that can be lost as a result of any failure (out-law, 2017). It is natural that cutting the incentive of getting high compensation through bonuses would encourage most of the senior staffs to seek a different way to maximize their profit. It will put pressure to increase fixed pay and .Another limitation is the one size fits all approach taken to tackle the problem. Not all the credit institutions are the same, so an incentive structure that may work for one firm is not necessarily suited to another.