Discuss the arguments for and againts the reform of the international Essay

Discuss the arguments for and againts the reform of the international trading systems in general and the World Trade Organisationvin particular - Essay Example There has been greatest movement of resource to other countries and most of the companies have gone international. This has been a positive development in the business world as more and more companies in the world embrace e the concept of global operation. (Cancun 2003, p. 3) International trade can be described as trade between nations. This can be described as trade between national in different continents or it can mean trade between one neighbouring nations. International trade is the trade that happens beyond the boundaries of a continents and which in particular involves the subjects of that country. Unlike domestic trade that it controlled by the government, International trade is subject to the control of world and it comes with more regulation than the domestic trade International trade has been used as a yard stick for measuring the transparency and governance of a nation by the international community. In the recent past the wave of globalization has made it difficult for one a country to live as an island and the economic systems are moving more towards a dependency market structure. Globalization has brought about a cycle of dependency in which a country is depending on other for as structured by the world economic systems. This has been one of the reasons why international trade has become very important to the whole world. globalization has opened countries to the scrutiny of the international community and the world trade system has been used to force nations hat have been seen as deviating from the world economic system in order to force them to conform to world policies. One of the most important way in which world trade has been used to streamline the operation of nations is on mater that concerning respect of human rights. As we said earlier globalization has been characterized by opening of national police to the whole world and hence there is a scrutiny on how a nation is respecting issue of human rights and other.

Credit appraisel literature review Essay Example for Free

Credit appraisel literature review Essay This chapter is an elucidation of literature relating to the flow of credit from various organised and unorganised sources of housing and real estate finance. The aim of such a perusal is to have a birds eye view of the concurrent and corresponding issues and problems related to the present study. The first part deals with the flow of credit from organised institutions to various sectors like manufacturing industry, private corporate sector and various other industrial concerns. Studies on the institutional flow of credit in Kerala are also discussed. The unorganised sector consisting of indigenous financial agencies is enumerated in the next part. Understanding the operation of and the potential for housing finance is important, since in many developing countries housing policy is about establishing new and more innovative finance policies. 4. 1. 1 The banking system in India comprises of the Reserve Bank of India, Commercial banks and cooperative banks and credit societies. The commercial banks are the premier institutional structure of the 104 banking system. The principal function of these institutions is to satisfy simultaneously the portfolio preferences of the borrowers on one side and the lenders on the other. They mobilise resources from the savers in the form of deposits and extend credit facilities to borrowers in the form of loans, advances and securities. Loans and advances provided by these institutions can be categorised into short-term funds and long-term funds. The latter are advanced for purchase of plant and machinery while the former are provided for purchase of raw materials, stores, spare parts and the like. However following the traditional British banking practice, commercial banks provide more short term funds to the investors in industry and trade than long term loans. The pattern of credit disbursement has undergone substantial changes since 1950. 4. 1. 2 Commercial banks extended credit to commerce and trade to a larger extend than to manufacturing industry until 1958. Since the commencement of the second five Year Plan, which laid emphasis on rapid industrialisation, the pattern of credit flow took a new turn in favour of medium and large industry. As a result, the share of industry, in public and private sectors in total bank credit increased from 34. 8% to 67. 5% during the period 1954 to 1968. Since nationalisation of 14 major commercial banks in July 1969, the Government of India assigned new priorities to commercial banks with regard to the flow of credit to hitherto neglected sectors, called 105 priority sectors. The emphasis thus shifted from industry to the priority sectors. Further the supply of credit was controlled through statutory regulations and monetary regulations. On the other hand the demand for bank credit has also  undergone substantial increase. Factors such as, large growth in the number of industrial units, diversification of existing units, increase in industrial and agricultural production, increasing needs of short and long-term funds to maintain the increased levels of production, pushed up the demand for bank credit. 4. 1. 4 ~ u ~ t and ~ m b e ~ e o k aobserved that the use of funds from a r* banks by the private corporate sector had exceeded its inventory formation. Gupta, has argued that a small portion of such finance should have gone to meet fixed investment. Further, he found the growth rate of physical assets to be more directly and closely related to security issues than bank credit. Hence, he argued that the fast growing firms relied heavily on security issues than the use of bank credit. Arnbegeokar found that the rate of rise in bank credit exceeded that of inventory, sales and output. Further he observed 1 L . S . Gupta (1969). Changing Structure of Industrial Finance in India, The Impoct ojlnstitutional Finance, Clarendon Press: Oxford. 2 N. Ambegaokar (1969). Working Capital Requirement and Availability o f Bank Credit: Indian Processing and Manufacturing Industries, Reserve Bank of India Bulletin Vol XXIII. No:lO. 106 that its dependence on banks for working capital had increased, accompanied by a decline in reliance on other financial institutions. 4. 2 shetty3 assessed the dimensional changes in credit deployment during the first five years of nationalisation in relation to changes in output and prices. The rationale for his analysis was the fact that, in any accepted model of demand for money, one common variable is the gross national product or some other  variant of it in real terms. Consequently, he hypothesised that credit for any sector or industry over a period has to have some relationship with its performance in real terms, particularly output. He observed a declining trend in the credit extended by banks to industries since nationalisation, though it was higher than other sectors. On finding that the share of manufacturing sector in bank credit is higher than its share in Net Domestic Product (NDP) he concludes that increase in bank credit has occurred far in excess of increase in output during the years 1968169 to 1973174. In his other paper, shetty4 observed that the share of medium and large industry in total bank credit had declined due to priority S . L . Shetty (1976). Deployment of Commercial Bank and other lnstitutio~lalCredit: A note on Structure changes. Economic and Political Weekly, Vol XI No: 11, M a y 8th . pp. 696-705. S L Shetty (1978). Performance of Con~mercial Banks since N a t ~ o n a l ~ s a t ~ofn Major Banks: Promises and Realty. Economic and Political o Weekly, Vol. XI1 No. 31, 32 34, August, pp. 1407-1451. sector lending. Another observation in line with his earlier finding was that growth in bank credit had always been disproportionate to growth of their physical output, especially in industries like cotton textiles. His observation particularly for the years 1975-76 and 1976-77 revealed: (a) Increase in average bank credit had been higher than the growth of NDP originating in registered manufacturing sector even at current prices (b) An appreciable increase in the rate of short-term bank credit to inventories; and (c) Relatively higher reliance on trade credit. In line with these observations, he suggested policies to scrutinise credit claims vigorously and relate credit to the genuine production requirements so that funds are not tied up with these large borrowers. 4. 2. 2 K. S. R. ~ a o carried out an econometric exercise on the determinants of demand for bank credit of some selected industries for the period between 1970-71 and 1984-85. He observed that output of these industries was the most important factor in determining its demand for bank credit whereas, interest rate of K S . R . Rao (1988). Demand for Commercial Bank Credit 1970-71 t o A Study Thiruvananthapuram 1984-85: of Selected Indian Industries. M. Phil Thesis, CDS 108 banks and relative rate of interest of other sources of borrowing played only a secondary role. Price of output was also found to have affected the demand for credit significantly. The relative interest rate variable was significant with respect to industries like textiles, engineering and total manufacturing, while it was not significant for industries like sugar and other food products and chemicals. Divatia and shankar6 in their paper discussed the role of  internal and external sources of funds and their components in financing capital formation of the private corporate sector. The study was based on the RBI company finance studies relating to medium and large public and private limited companies and covered the period 1961-76. They also discussed the trends and patterns of financing for four individual industries, viz, cotton textiles, jute, sugar and cement. 4. 4 S. ~ d v e had some interesting findings in his article Financial Practices in Indian Corporate Sector, based on the RBI company finance data. He underlined the rising dependence on borrowed capital in relation to the total capital employed in the 6 V. V. Divat~a a1 (1979). Capital Formation and its Financing in the et Private Corporate Sector 1961-62 t o 1975-76. The Journal of Income ; Wealth, April 118-152. 7 S. Adve (1980). Financial Practices in Indian Corporate Sector, Inter-Group and Inter-Size Differences, Economic and Political Weekly, Feb. 23. 109 Indian corporate sector. Trade credit was pointed out to be important sources of capital when the bank credit was squeezed. Making an industry-wise analysis, the author came to  the conclusion that the industries with large profit margins and those with large depreciation and development rebate reserves had a relatively lower order of overall indebtedness and many of them also had a lower order of bank borrowings in relation to overall indebtedness. Industries with high profit margin such as silk and rayon textiles, aluminium, basic industrial chemicals and medicine and pharmaceutical preparations had lower proportion of borrowed funds as compared to the average of the medium and large public Ltd. companies. The extensive study viewed that the growth  from of institutional finance emerged in lndia due to structural change for industrial financing system with wide change of socio-political situations in lndia. He attempted to measure overall impact of financial institutions on capital formation in the organised private sector as also the allocative efficiency of financial system. He observed that during the first pla? financial assistance rendered by special institutions represented only 4. 1 per cent of gross fixed investment in private industry, which rose to 7. 9 per cent in the second plan and further to 18.1% in the third plan period. He also 8 L . S . Gupta ( 1 9 6 9 ) . Changing Structure of Industrial Finance in Indra, The Impacr ~flnstrtutronalFinance, Clarendon Press: Oxford. 110 found that commercial banks remained the most important single agency for financing the private corporate industry and LIC was the single largest purchaser of industrial securities and the underwriter of new issues of large and established companies. 4. 6 M. S. ~ o s h examined the role of financial intermediaries in i~ providing finance to large-scale industries in the private sector. After analysing the contribution of each important intermediary towards industrial development in India, he estimated that these intermediaries have participated with 17% of investment in various industries against 39% in share capital of public Ltd. companies. 4. 7 Studies on Institutional Credit in Kerala Among the studies on the state of Kerala, few have looked at the inter regional development of banking. The study conducted by the Travancore-Cochin banking enquiry c ~ r n m i t t e ewas the first of ~ its kind in the post-Independence era. The report traced the development of banking in the two regions of Travancore and Cochin. It noted that in terms of the average number of people per bank office, they had the smallest figure in the whole of lndia. It was noted that the expansion of commercial banks in the rural areas is more pronounced than in any other state. 9 M. S. Joshi (1965). Financial Intermediaries in India. Makhanlal ; Sons Pvt. Ltd, Bombay. 10 Gok (Various Years) Kerala Economic Review, Thimvananthapuram. 111 4. 7. 1 M. A. Oornrnenl historically reviewed the expansion of commercial banking in the Travancore-Cochin region prior to the period of planning. He noted some of the salient features of banking in Kerala: their community or sectarian origin and ownership, the rural areas bias, over extension of credit and predominance of small accounts. He noted the presence of a special concentration of banking in Tiruvalla and Trichur. 4. 7. 2 The Kerala Planning Board (1982) too made an effort to understand the performance of commercial banks in Kerala after nationalisation. This study was confined only to a quantitative assessment of the performance of nationalised banks and looked at the mobilisation of deposits, trend in credit expansion and the sectoral distribution of bank advances. Even though the number of bank offices in the state is more than that of other states, some districts like Malappuram and ldukki lacked banking infrastructure. Ernakulam was found to be the best-banked district in the state followed closely by Trivandrum. It accounted for 22 per cent of the deposits and 30 per cent of the credit disbursed in the state. Idukki, Malapuram and Palghat were way behind. ~-. II M A . Oommen (1976). Rise and Growth of Banking In Kerala. Social . Scieflt~. sl. Vol 5 . 8 0 3 112 4. 7. 3 Among the more recent studies, Sunandas study of institutional agricultural credit in Kerala highlights the inter district disparity. She reviews the socio-economic background for the origin and growth of banks in Kerala (performance of commercial banks and co-operatives only) and concentrates on the agricultural credit disbursed by them. In credit per hectare, Ernakulam and Trichur stood highest while Palghat ranked the lowest. Regional disparity of agricultural credit from commercial banks decreased between 1974175 and 1985186 while that of co-operatives increased. She has used Principal Component Analysis to explain the variation. Three sets of variables are used for explaining the variation of credit co-operatives viz, per hectare from commercial banks and Banking variables, Asset variables and Productivity variables. 4. 7. 4 The book Reminiscences, written by Shri. K. C. Mammen ~ a ~ ~ i throws ~ l a i some light on the banking developments that took place in Kerala prior to independence and also the role played by the Christian community in developing the banking system in the state. It also contains the history of the National Quilon Bank, which was the premier bank at that time and explains the reasons for its failure. S. Sunanda (1991). Institutional Credit for Agriculture in Kerala-A Disaggregated Analysis, M. Phil dissertation, CDS, Thiruvananthapuram. K. C. Mammen Mappilai (1959). Reminiscences, Malayala Manorama Printing and Publishing Co. Kottayam, Kerala. 113 4. 7. 5 Shri. A. K. Seshadris A Swadeshi Bank from South lndial4 gives an account of the banking crisis that occurred in the state in 1930 due to the failure of the National Quilon Bank and that in 1960 consequent upon the liquidation of the Palai central Bank, Palai. 4. 7. 6 The Indian Banks ~ s s o c i a t i o n ~ , Bombay published a book Keralas Banking Profile in 1987. This book contains a quick review on the banking and the economic scenario in Kerala from 1969 to 1987 and also has dealt with the impact of the non-banking private financial institutions on the banking system in the state. It also contains a quick analysis of the role of the NRI sector in the growth of the commercial banks in Kerala. Though the book contains information regarding deposits, advances, number of branches, net state domestic product, per capita income, per capita deposits etc, it does not make any attempt to analyse these factors and to find out whether any relation exists between these factors. In 1992 Canara Bank, the convener of State Level Bankers Committee Kerala had brought out a brochure on Keralas banking profile. This book contains a review of the district and state wise performance of the commercial banks during the 3 year period from 1989 to 1992. But this does not contain certain vital information like I4 AK Seshadrl (1982). A Swadeshi Bank,from South India, Indian Bank, Madras. I I n d ~ a nBanks Association (1987). Kerala: A Banking Profile, Bombay. 114 classification of deposits and advances according to population group wise, a review on the productivity of banks in Kerala etc. Indigenous Financial Agencies The availability of literature on indigenous financial system is scarce. The Central and Provincial Banking Enquiry Committee Reports give comprehensive information regarding the working of the agencies. But even such information appears to have become outdated in many respects as the enquiry was conducted more than 55 years ago. The Rural credit survey and Central banking Enquiry Committee attempted to obtain quantitative information, including capital invested in the business from the agencies but failed in their task. Hence as far as the quantitative aspect is concerned, i t is impossible to collect correct information from these agencies as their nature of business is selective and also as their exact number is not known. 4. 8. 1 G. ~ a r k a l brings out some of the problems of indigenous banking in India in the present context of economic development. He attempts a scientific definition of the term agencies and points out how the earlier definitions were defective. Karkals book estimates the magnitude of capital involved in the unorganised G Karkal ( 1 967). Unorganised Money Market in India. Lalvani Publishing House Bombay. 115 market through the help of data regarding Hundi sales. With the help of available data the study points out the nature of the interest rate in the various rural-urban regions. It indicates the trend of and effect of the contact between the two markets viz. , the organised money market and unorganised financial sector. Again the study discusses the methods of strengthening the Agencies. Here it pleads for the recognition of the hundi as a liquid asset at least in the case of trusted indigenous bankers, thereby giving an impetus to the unorganised sector to encourage the bill business. Provides an interesting account of the functioning of private financing firms in Kerala. The study based on a survey of the private financing firms in Trichur town seeks to examine the factors, which contributed to the emergence of these institutions, the method of their functioning and their importance as a parallel banking system. However he is silent on questions such as types of borrowers, total amount of uncounted money generated by the private financing firms, safety of depositors money and so on. 4. 8. 3 D. ~ a j a s e k h a r based on a survey of 8 private financing  firms in Bellary town in Karnataka tries to probe the factors B A Prakash (1984). Private Financing firms in Kerala, Economic and Political Weekly. Vol X I X . Dec. 15. D Rajasckhar (1988). Private Financing Firms in Karnataka: A boom for tax dodgcrs W o r k ~ n g Paper No: 228. CDS, Thil-uvananthapuram. 116 responsible for the growth of private financing firms. It also documents and analyses the functioning of private financing firms and critically examines the type of borrowers, the use pattern of the borrowings and also tries to estimate the black money generated by the private financing firms. 4. 9 H o u s i n g Finance A strong relationship between levels of urbanisation and wealth has been demonstrated both theoretically and empirically in numerous s t u d i e ~ . Traditionally, faced with other development ~,~~ priorities, governments and international agencies have been reluctant to encourage investment in housing, which has often been seen as an item of consumption (UNCHS 1991). ~Moreover, many of the first waves of housing finance institutions were poorly managed and contributed to macro-economic disruption. Even by the late 1980s en and^^ was able to observe that few aspects S . Malpezz~ (1990). Urban Housing and financial markets: Some ~nternationnlCo~iiparisons,(Jrhnn Studies, 27, 6 : 971-1022. World Bank (1993). Housing: Enabling Markets t o Work, W o r l d Bank iolic), Pnper Washtngton D C : World Bank. U n ~ t e d Nations Centrc for Human Settlements (1991). Integrating Housing Finance into the National Finance Systems of Developing Countries: Exploring the Potentials and the Problems, Nairobi: UNCHS. R. M. Buckley er a / . (1989). Housi~ig policy in developing economies: evaluating thc macroeconomic impacts, Review uf Urban ; Regional llevelopmenr Studies. 2: 27-47. B. Renand (1987). Financing Shelter in L. Rodwin (ed) Shelter, Settlement nnd I l e v e i o p m e n f Boston: Allen and Unwin. 117 of economic development remain as unexplored and poorly analysed as the potential to induce financial development and ways to improve the financing of housing. These practical and conceptual difficulties notwithstanding, during the 1990s housing finance moved to the top of the urban agenda. Under pressure to reform urban management, governments have made important legislative and institutional reforms to enable private institutions and non-governmental organisations (NGOS) to have a greater role in the provision of housing finance. The lead of the World Bank has been especially important in making the shift from housing projects towards the delivery of housing financez4 from 1983 to 1988. Bank lending for housing finance exceeded the total for sites and services from 1972 to 1988, and by 1989 almost one-half of all Bank urban lending was for housing finance programmes. z5This reorientation went beyond the need to deliver more and better housing, to make urban policy compatible with macro-economic management, particularly in the context of structural adjustment programmes in which control of foreign exchange risks and fiscal policy have been paramount. World Bank (1993). The Housing Indicators program: Preliminary Result, Washington, DC World Bank. R. M. Buckley el a ! . (1989). Housing policy in developing economies: evaluating the macroeconomic impacts, Review of Urban d; Regional llevelopment S t u d i e . ~2: 2 7 4 7 . . 4. 9. 1 S. chantz6;K. ~ a t t a and ~ i r a f f a b argue that formal finance ~ institutions are rarely willing to assist with the purchase of land, especially where the tenure, is insecure, to provide assistance with improvements to the rental housing stock or to support nonconventional household arrangements such as sharing of multiplefamily  compounds. These limitations have implicit gendered consequences, as rental and shared housing are of particular importance to low income women who often lack the means to become homeowners. 4. 9. 2 M. M. valeneaZ9summarizes the conditions of Brazils housing finance system by the 1980s as one of crisis, chaos and apathy. Notoriously inadequate fund collection and loan enforcement rates exemplified housing these finance conditions. This condition of public-sector institutions accentuated by was political manipulations that passed these institutions from one ministry to another at short intervals. Valenea points out that as the economic crisis of the 1980s deepened, the fall in the real value of payroll S Chant ( 1997). Women headed Households: Diversity and Dynamics in [he l l e v e l o p i n ~ i+orld. Basingstoke: Macmillan. K. ~ a t t a (1995). Strategies for urban survival? ; Women landlords in Gabocomc Bots ana, Habitat International, 19,1: 1 12. 2X F. Miraftab (1994). Housing Preferences of Female headed Households of Low Income Families in Guadalajara, Mexico: paper presented a t the International semlnar on Gender, Urbanisation and the Environment, Nairobi. The inevitable crisis of the Brazilian housing finance s!. stem. IJrhan Sttrdies, 29,1:39-56. 119 deductions with rising unemployment, the diversion of revenue sources to fund higher priority areas of the government budget and the withdrawal of savings from negative interest rate bearing accounts left many public sector housing finance institutions short of capital. 4. 9. 3 David lsaac3 provides an introduction to property finance, bringing together the professional disciplines related to finance and property investment and development. The book establishes the basic concept of finance, examines the applications of these concepts in practice and gives an overview of the market, its history and position as of 1993. 4. 9. 4 R . M . ~ u c k l e ~ ~ ; ~ i m and N. ~ u n j e have pointed out K. H. ~ e ~ ~ that the declining effectiveness of housing finance institutions coupled with economic and fiscal crises, have made governments more aware of the need to promote savings, reduce subsidies and mobilize domestic resources and motivate the involvement of 3, David Isaac (1994): Property Finance, Macmillan Press Ltd. , London. R . M . Buckley (1996). Housing Finance in Developing Countries. Bas~ngstokc. Macmillan. K. H. Kim (1997). Housing finance and urban infrastructure finance, Urban . stl~d~r. s. 10: 1597-620. 34, 11 N Munjec (1994). Housing finance in development: is there an cmerglng paradigm for developing countries in Asia: Housing Finance I n t e r n a t i o n n l . 8. 4 6-10 11 120 private financial institutions. Many of the most restrictive practices operating in housing finance markets, such as institutional entry requirements and liquidity limits, have been lowered, loanlvalue ratio made more flexible and a wider definition given to the terms of collateral. The optimistic view was that private institutions would be able to deliver larger quantities of finance more efficiently and with a greater chance of sustainability. 4. 9. 5 T. H. ~ a l i argues that even though new private finance c ~ ~ companies have been set up, a few lower-income households qualify for loans because the eligibility criteria require proof of five years full employment, imposing a start-up fee equivalent to three months salary and taxes to approximately 25% of the loan value. Similarly US AID^^ points out that in Eastern Europe despite the establishment of DIMS i n Poland, building certificates in Russia and indexed credit systems in Bulgaria, the bottom 80 per cent of the income profile has not been reached. T. H. Malik (1994). Recent development in housing finance policy in Pakistan paper presented at 2nd symposium Housing for the Urban Poor, Birmingham. Ull~tcd States Agency for International Development (USAID) (1997). Building on progress: The Future of Housing Finance in Poland. Warsaw: USAID. 121 4. 9. 6 Thomas Klak and Marlen Economy explore Housing of the Formal Sector organisation Trust in their article. The Political (NHT), the and Housing Finance performance  states main of in Jamaica the National housing agency in distributing finance in the context of the struggle for basic needs such as shelter, state socio-economic interventions. By examining the NHTs funding base, expenditures and beneficiaries they outline the scale of the financial resource diversions that effectively restrict low-income households from obtaining NHT housing assistance. They point out that a greater share of NHTs massive financial assets could be directed towards serving the housing needs of lowincome people if the Trust were organised differently.

A Case Study For Vertical Integration Commerce Essay

A Case Study For Vertical Integration Commerce Essay The word  vertical integration  describes a style of  management control. The oil industry has always been fertile ground for analysis of the reasons and effects vertical integration. One reasons of this popularity is that the stages of production are easily differentiated. The general perception is that Integration is a prerequisite for success of the company as the oil industry is populated by large Integrated companies that makes excessive profits. Vertically integrated businesses in a  supply chain  are united through a common owner. Vertical integration may also be a merger of two companies that are in various stages of production, (for example, an upstream company (ONGC) and a downstream company (HPCL) . Thereby merger with a company which is at a later stage in the production process (and therefore closer to the consumer end) is known as forward integration. Vertical integration may be contrasted with horizontal integration, the merger of companies that together are at the same stage of production, for example, merging of two upstream companies or two downstream companies. Joining further back in the process (if a downstream company merged with an upstream company, for example) is known as backward integration. An example of backward integration in India is of Reliance Industries Limited that started with textiles to polyester to petrochemicals and now refinery and exploration production. The integration of two organizations that are in completely different business lines is sometimes referred to as the conglomerate integration. Companies are downstream or upstream of the other depending on whether they are closer or farther from the end consumer (the sea, so to speak, to the river flowing production). The benefits of vertical integration come from the higher capacity that gives organizations control access to inputs (and to control the cost, quality and delivery of inputs). Some of the best examples of vertical integration have been in the Oil Industry. In 1970 and 1980, many companies that were principally engaged in the exploration and extraction of crude oil refineries decided to acquire downstream distribution networks. Companies like Shell and BP came to control all the steps involved in bringing a drop of oil from North Sea or Alaska to the fuel tank of the vehicles. . Reliance- A Case Study: The Reliance Group, founded by Dhirubhai H. Ambani (1932-2002), is Indias largest private enterprise, with businesses in the energy and materials value chain. Groups annual Revenues are in excess of U.S. $66 billion. The flagship company, Reliance Industries Limited, is a Fortune Global 500 company and is the largest private sector company in India. Backward vertical integration has been the foundation of the evolution and growth of Reliance. Starting with textiles in the late seventies, Reliance pursued a strategy of backward vertical integration from polyester to fiber intermediates, plastics, petrochemicals to petroleum refining and oil and gas exploration and production to be fully integrated along the materials and energy value chain. The Groups Activities span Exploration and Production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fiber intermediates, plastics and chemicals), textiles, retail and special economic zones Infotel. Reliance enjoys its Global Leadership in Businesses, being the largest polyester yarn and fiber producer in the world and among the top five to ten Producers in the world in major petrochemical products. Key Milestones in the history of Reliance Group: 1958- Dhirubhai Ambani started Reliance Commercial Corporation in Mumbai. 1966- Reliance entered the textile industry and set up a mill at Naroda, Ahmedabad. 1975- World Bank team visits the mill and declares that it is as modern and well-managed as those in the developed countries. 1977- Reliance went public with Indias first IPO 1985- Reliance total assets: $227 million. 1986- Reliance Capital, a merchant bank was created. 1988- Reliance Industrial Infrastructure, a petroleum pipeline provider, came into line. 1988- Reliance sales exceed $404 million. 1991- Hazira petrochemical plant commissioned. 1992-Reliance became the first Indian corporation to raise capital from international markets through Global Depository Receipts offering, and sets a record with a Reliance issue that received over 1 million investor applications. 1993- Reliance Petroleum went public in Indias largest public offering to date. Sales exceeded $909million, making Reliance Petroleum Indias largest publicly traded company. Also Reliance offered the first Euro Convertible bond issue. 1994- Awarded Companion Membership of the Textile Institute (UK). Award is limited to 50 members who have substantially advanced the fiber industry. 1994- Reliance offered the second Euro issue of Global Depository Receipts. 1995- Reliance net profit exceeded $242 million. 1995- Reliance Mutual Funds, an asset management and mutual fund provider launched. 1997- Reliance became the first corporation in Asia to issue 50 to 100 year bonds in the United States. 1997- Worlds largest multifeed cracker commissioned in Hazira. 1998- Reliance revenue tops $3 billion and total assets approach $8 billion. 1999- Worlds largest petroleum refinery complex commissioned at Jamnagar. 1999- Reliance Infocomm, a mobile service provider is launched. 2000- Reliance revenues exceed $4 billion, and total assets are $11.8 billion. 2002- Reliance Industries Ltd. and Reliance Petroleum Ltd merge into Reliance Industries. The new firm is named to the Forbes Global 500 in 2003, entering at position 306. Backward integration of Reliance Industries Objectives of the Study The objectives of the proposed research are as follows: To study the various activities that can be successfully integrated in oil and gas companies. To study the effects of vertical integration on diferrent oil and gas companies. To analyze the effects of vertical integration on Reliance Industries. Research Methodology Collection of Secondary Data Secondary data will be collected from already integrated oil and gas companies and it will give an insight on the various activities which can be successfully integrated. The data would then be simulated to analyze the effect of vertical integration on Reliance Industries. Literature Review: Oil companies, both national and multinationals have often adopted a vertically integrated structure. Some of these companies are: Exxon Mobil: it was formed in 1999 by the merger of two companies- Exxon and Mobil. Before the merger, Exxon was an upstream major while Mobil was a Chemical Company and its chief products included basic olefins and aromatics, ethylene glycol and polyethylene. After the merger, the company has been operating in the following areas: Upstream ExxonMobil Exploration Company ExxonMobil Development Company ExxonMobil Production Company ExxonMobil Gas and Power Marketing Company ExxonMobil Upstream Research Company ExxonMobil Upstream Ventures Downstream ExxonMobil Refining and Supply Company Sea River Maritime ExxonMobil Fuels, Lubricants Specialties Marketing Company ExxonMobil Research and Engineering Company International Marine Transportation Chemical ExxonMobil Chemical Company ExxonMobil is an industry leader in almost every aspect of the energy and petrochemical business. Its activities range from the exploration and production of oil and gas to coal and copper mining, from the refining of petroleum products to the marketing of fuels (under the Exxon. Mobil and Esso brands). waxes. asphalt and chemicals. In addition. ExxonMobil is active in electric power generation. ExxonMobil Chemical is one of the largest petrochemical companies in the world. Its products include olefins, aromatics, synthetic rubber, polyethylene, polypropylene and oriented polypropylene packaging films. The company operates its 54 manufacturing plants in more than 20 countries and markets its products in more than 150 countries. Shell: Shell has vertically integrated its structure which has helped it develop commercial expertise in all stages of this vertical integration, from the initial search for oil (exploration) through its harvesting (production), transportation, refining and finally trading and marketing established the core competencies in the company was founded. Similar competencies are also developed for natural gas, which has become one of the most important businesses in which Shell is involved, and which contributes a significant proportion of the profits of the company. Royal Dutch- Petroleums subsidiary, Shell Oil, acquired Pennzoil-QuakerState, the largest producer of motor oil. The vertical acquisition, which included over 2000 Jiffy Lube oil change centers, was consistent with Shells parent companys strategy to acquire a company that complements its lubricant and oil-products businesses and Shells gas station chain. Royal Dutch-Shell was international from its earliest days. Formed in 1907 as an Anglo-Dutch alliance between Shell Transport and Trading and the Royal Dutch Petroleum Company, the Royal Dutch-Shell group was, at that time, the only serious international rival to Rockefellers Standard. By the time that Anglo-Persian was formed in 1909 Rockefellers Standard and Royal Dutch-Shell had already established powerful positions in the international oil industry. But although Anglo-Persian was a latecomer, it had the unique and crucial competitive advantage that it was the first mover in developing the oil reserves of the Middle East, where its first oil field at Masjid-i-Suleiman in southern Persia (later Iran) was a giant, containing vast reserves of crude oil which could be produced in great quantities at low cost. From these different beginnings, the firms that would become international majors, acting at times as rivals, at others as allies, proceeded to establish their mastery of the international oil industry Each of them set out to produce its own crude oil for processing at its own refineries, and to sell the resultant products to the final consumer through its own market outlets. Each also sought to achieve, as far as was possible, a balance between these successive stages in its operations. By this policy of operational vertical integration, each major was able to co-ordinate the flow of oil, under its own control, from its oil fields to its markets. In practice, no major was able to achieve a perfect balance between its upstream (producing) and downstream (marketing and refining) operations. Majors with more markets than production could not find new oil fields at will, while others with more production than markets risked fierce competitive battles with their established rivals if they tried to break into new markets. To rectify the imbalances, and to mitigate the rivalries, the majors adopted a combination of measures they contracted to sell each other crude and products, sometimes in very large quantities; they joined in market-sharing agreements, most famously the 1928 Achnacarry Agreement to share out markets by a quota system; and they formed regional alliances in which majors with surplus upstream capacity joined forces with others with surplus downstream capacity, so that they could balance their joint operations without engaging in competition. By these arrangements, the international flow of oil came to be channeled, not through open, transparent markets for crude and products, but through the closed circuits of the majors vertically integrated systems. There were, both then and later, differences between those who argued that vertical integration was the economically most efficient means of organizing the international flow of oil, and those who saw vertical integration not as an economic necessity, but as a way of suppressing competition and of enabling the majors to control the industry. To a large degree, however, vertical integration was historically determined by Rockefellers early dominance. Once he had established a high degree of monopolistic control, it became a competitive necessity for later entrants such as Royal Dutch Shell, and later Anglo- Persian, to integrate vertically in order to avoid having to negotiate on uneven terms with established competitors for purchases and/ or sales of oil.

How significant is it that Croesus is not Greek, in Herodotus Histories? :: essays research papers

According to Herodotus, Croesus was the first non greek to come into contact with the Greeks: â€Å"He was the first foreigner, so far as we know to come in direct contact with the   Ã‚  Ã‚  Ã‚  Ã‚  Greeks, both in the way of conquest and alliance† Although this statement is unlikely to be true, the significance of Croesus not being Greek is obviously very high. Herodotus tells moral stories using historical figures, Croesus being one of them. For example, the story of him and Solon, which is almost certainly untrue when we see Croesus ignoring a wise person’s thoughts and advice. As his Histories were written for a Greek audience, it wouldn’t have been wise to show a Greek to be so foolish and a barbarian like Croesus would have been a good person to choose. Herodotus, at the time of writing, would have been telling the histories to entertain Athenian people. For entertainment’s sake, Croesus being a foreigner would have been very important, as his life would be a new and untold story that his audience wouldn’t have heard before, whereas had he been a Greek, people knowing about him would have been highly likely. Croesus, we see, while being extremely generous towards the Delphic Oracle, questions and tests it and later makes mistakes in interpreting the prophecies. Any message Herodotus was trying to convey here, again is better done so through a non-Greek, being somewhat foolish, rather than a Greek like his audience. The point of Herodotus’ Histories was to tell the story of the Persian Wars with background from both sides so to find a cause for it. He says in his opening paragraph:

Marketing Communications

Introduction Some of the aspects that characterize the present-day business environment include its increasing dynamism, volatility and uncertainty. This poses challenges for businesses that are rigid and not well prepared to change with the transformations in the market (Williamson et al., 2013). On the other hand, it creates opportunities for companies that have the capability of implementing necessary changes that will make them remain relevant to their target markets. Some of the main areas that have been changing in organizations in recent years include management and communication styles, organizational structures, approaches to marketing and the utilization of technology in different departments within organizations (Shimp & Andrews, 2013; Diefenbach & Todnem, 2012). This paper intends to address several issues that relate to the changes and developments taking place in the business environment. It presents an analysis or opportunities and threats that companies like Yahoo and Google face in relation to the rapid technological advancements. It also addresses the appropriate communication approaches that companies should use to facilitate internal and external communication and the communication mix that is used at Apple to market itself to its target clients. In relation to this, the report presents an analysis of a communication campaign used by Nike, a leading sports’ equipment and apparel manufactures in the UK, to establish how effective it is in attaining its marketing objectives. Opportunities and Threats for Google and Yahoo in regard to rapid technological changes Google and Yahoo are some of the well renowned internet-based companies that offer search engine and e-mail services to a wide range of users. Both companies also deal in software development. Based on the services and products offered by these companies, they are directly affected by technological advancements, especially in the ICT sector (Segev & Ahituv, 2010). The opportunities and threat s that these advancements expose the companies to are discussed in this section. Opportunities There are several opportunities presented to these companies as a result of technological advancement. One of these is that it provides a wide range of avenues through which the companies can communicate with their clients and vice versa (Hundal & Grover, 2012). It also provides increased avenues through which the companies can market their products. Technological advancements in the ICT sector across the globe have also led to an increase in internet accessibility. For Yahoo and Google, an increase in internet accessibility provides an opportunity for them to earn more revenue through advertisements (Shih et al., 2013). This is because they are among the most visited websites internationally. Google is ranked as the most visited website, while Yahoo is ranked the fourth (Alexa, 2014). Being business oriented, technological advancement will also make it possible for them to market their products and services to a wider market base through strategic marketing communication strategies. It also provides an opportunity for them to launch e-commerce strategies, which are cost-effective for the company and convenient for clients. Among the advancements that have taken place is the development and increased use of smartphones (Persaud & Azhar, 2012). Given that both companies deal in software development, it provides an opportunity for them to create revenue from developing applications that can be used on these devices. Google has effectively taken advantage of this advancement and has developed the Android operating system (Gandhewar & Sheikh, 2011). The fact that its operating system is compatible with many mobile devices like manufactured by different companies like Samsung and LG increases its usability. With the growing number of global populations using smartphones, the company has a lot to benefit as Android is among the top smartphone operating systems (Butler, 2011). Threats With the increase in the technological advancements in the market, these companies are also exposed to a range of threats (Lovelock & Wirtz, 2011). One of these is the increase in competition from other companies that provide the same products and services. With internet companies like Twitter and Facebook having a growing number of users, they provide a threat for Yahoo and Google in terms advertising revenues (Lagrosen & Josefsson, 2011). There is also a possibility of other internet based companies coming up to provide stiffer competition. In the software business, Google’s Android operating system faces a threat from Apple’s iOS, if it decides to adjust it and make it compatible to other devices (Butler, 2011). Other technology companies may also come up with more innovative products and better marketing approaches than Google and Yahoo, which might reduce their current market shares. Another threat that is associated with technological advancements is posed to the human resources of these companies. Employees face the risk of losing jobs because a wide range of jobs that were initially handled by people can now be done even better by machines (Lovelock & Wirtz, 2011). Even though this might come as a relief for these companies as they cut salary costs, the fact that these advancements may increase unemployment undermines the social responsibility efforts that these companies may have. The increase in technological advancements also increases the levels of cyber crime. Even though the systems of Yahoo and Google may be secure from this risk, given that they have measures in place to address this issue, clients who have opened email accounts with them may not be as secure. Hackers may gain access to their emails, obtain their personal information and use it against them. Even though such cases might occur as a result of low email security measures by the user, some of them tend to blame the email hosting companies like Yahoo or Google as being the reasons for their predicaments. As a result, this ruins the reputation of these companies. Communication at GoogleInternal and external communicationCommunication is among the aspects of a business that are paramount to its success. Internal communication refers to the passing of messages or information within the organization. This could be within the same department or interdepartmental communication (Wright, 2012). External communication refers to the communication that goes on between the organization and external stakeholders, who mainly comprise of customers. When carrying out internal communication, there are several factors that have to be considered. For instance, the messages ought to be confidential to avoid access from external parties. In this case, Google has a company intranet, which consists of an internal message board and email system (Goodman, 2006). This can only be accessed by company employees who have been allocated usernames and passwords. These channels of communications have been highly secured, making it impossible for an external party to access the information or messages passed. Internal communication in organizations also has to be effective and quick. For Google, this is facilitated by the fact that it has a horizontal communication structure. According to Butler (2010), horizontal or lateral communication is the free flow of information or messages across different functional groups in the organization. Employees and managers across all departments and employee levels at Google interact freely without any hierarchical boundaries (The Financial Express, 2005). This approach to communication enhances cooperation among employees and also quickens the process of resolving conflict. On the contrary, it reduces the authority of departmental heads in the organization. External communication is meant to promote products or services offered by the company, or to advertise its clients’ products to a wide range of customers (Wright, 2012). It can also be meant to engage with customers with the aim of making them feel like they are part of the organization. Depending on the aim that is to be met by external communication, there are several measures that can be used. One of the most effective tools that the company uses to accomplish this is through its website. Based on the fact that its website is the most visited in the world, there is a high level of surety that it will communicate to a wide audience (Segev & Ahituv, 2010). Even with the high number of visits on the company’s website, many customers who may be targeted by the messages might not be among the website visitors. Thus, another alternative option that the company uses is through sending e-mail messages directed to certain clients that could be interested in the goods or services of the company. In 2012, the company spent over $231 million in marketing its products, which include the Google+ social media platform, Gmail and the Google Chrome web browser (Efrati, 2012).Market communication theories relevant to the communication str ategyThere are several marketing communication theories that can be considered as being relevant to the communication strategies utilized at Google. One of these is the heightened appreciation model (Dahlen et al., 2010). It is based on the fact that companies need to carry out consumer market research to establish the key attribute that attracts consumers to a brand. Market communication strategies are then designed to link the identified attributes of the product or service to the brand (Fill & Hughes, 2013). For instance, in the advertisement of its Google+ service, the company is aware of the need for people to interact and share instant messages and videos on social media. Google then links this need in the market to Google+, encouraging more clients to subscribe. Another model that can be used to represent the market communication strategies at Google is the advertising exposure model. This model suggests that advertisement objectives can only be met if it created five effects to the target consumer (Fill & Hughes, 2013). These effects are; creation of awareness, conveying messages about the positive attributes of the products, generation of feelings among the target audiences towards the brand, creating a brand personality and triggering purchase intentions (Dahlen et al., 2010). This model also relates to the advertisement efforts that have been implemented by Google as it markets a wider range of its products. The AIDA model can also be used in explaining marketing communication. It is regarded as one of the oldest and most popular market communication models. This model states that there is a hierarchy of events that have to occur for a marketing communication strategy to be termed as having been successful. In chronological order, these are attention, interest, desire, and action. After the attention of the target clients have been drawn, marketers are required to raise their interest in the products or services being advertised through highlighting their advantages. After this has been done a sense of desire is created in the clients by providing them with the assurance that the products or services will satisfy their needs. This will trigger action from the buyer, which is demonstrated by making the purchase. At Google, this model has been widely used, especially when it spent approximately 231 million to market its products in 2012 (Efrati, 2012). However, this model has received criticism for being out-dated and irrelevant for the present market environment.The Communication Mix of AppleThe communication mix is referred to as the specific approaches that are used by companies to promote their services or products to their target customers. There are five elements that make up a communication mix. These are discounts and promotions, public relations, direct marketing communication, advertising and personal selling (Wright, 2012). At Apple, the marketing mix element that is mainly used is direct marketing communication. This approach involves interactive communication with the aim of seeking a certain response from the target audiences. With reference to the recent development at Apple when it was preparing to acquire PrimeSense, an Israeli 3D chip developer, it was vital for the company to inform its external and internal stakeholders or the impending acquisition (Velazco, 2013). Some of the approaches that the company could use to pass this information include direct email communication, social media interaction with its clients and through its website. The company has maintained a large customer data base that contains the contacts of its customers and other Apple stakeholders (Wright, 2012). This also makes it easy for the company to pass such vital information directly to its customers and other external stakeholders. Internal stakeholders, who mainly comprise of employees, can be formally informed through circulation of a memo or posting the message on internal communication platforms.Importance of Cross-functional communicationCross-functional communication is applicable within the organization. It is referred to as the communication among people from different departments or functional groups in the organization (Shimp & Andrews, 2013). The importance of cross-functional communication that is beneficial to Apple Inc is the fact that it enhances cooperation within the organization as different teams work towards attaining the same organizational goal. Encouraging cross functional communication also promotes awareness of whatever is taking place across the entire organization, which eliminates cases of ignorance of misinformation. Some of the challenges that are associated with ineffective cross-functional communication in organizations include the failure for members of certain departments in the organization to appreciate or recognise the contributions made by other departments (Diefenbach & Todnem, 2012). This may result to destructive rivalry that may affect the attainm ent of organizational goals adversely. In a scenario where Apple might plan to acquire another company, cross-functional communication enables all the departments to be equally ready for any changes or additional responsibilities that may arise after the acquisition (Diefenbach & Todnem, 2012).Analysis of an integrated Marketing communications campaignMarketing communication campaigns are defined as strategies that are implemented by organizations with the aim of increasing market awareness about their products or services. This is usually with the aim of increasing the purchasing intentions of the target audience. According to (Bergemann & Bonatti, 2011), ideal integrated marketing communication strategies effectively coordinate all product promotional messages to ensure that they are all consistent. This section presents a market communication campaign that was launched by Nike, a company that deals in the manufacture and distribution of sports equipment (Nike, 2014). The marketin g communication campaign was implemented with the aim of increasing the company’s market share in the UK to extend its lead. This is as a result of the stiff competition from Adidas (Thomasson, 2014). The campaign intended to make use of all the available avenues to increase awareness of the UK market about the brand. It also intended to market the new products that it had launched and seen as appropriate for the target market. These mainly included sports shoes. This marketing communications campaign targeted a wide range of customers, who ranged from 18 to 50 years of age (Nike, 2014).Factors that make the campaign successfulThere are several aspects of the campaign that make this campaign successful in attaining its originally set goals. One of these is the wide range of media outlets were used to pass the message to the audience, basing on the fact that media consumption varies among individuals within different age groups (Bergemann & Bonatti, 2011). Another factor that made the communication campaign successful was the fact that it highlighted the favourable attributes of the company’s products, which included the affordable prices and the comfort of the shoes. Referring to the heightened appreciation model, this is an effective trigger of purchase intentions among the target audiences (Fill & Hughes, 2013). Given that this marketing communication campaign was strategically designed, the only aspect that could undermine its capability to attain the intended goals is the launch of a similar or better campaign by its key competitors.Media UsedDifferent forms of media were used in this campaign to increase the size of the audience that could be reached. These were classified as print, broadcast and interactive media. Print media comprised of newspapers and magazines. These targeted different clients. For instance, ads that were placed in fashion magazines targeted the fashion enthusiasts who could need Nike’s products to work out. Broad cast media basically comprise of radio and TV (Lamb et al., 2008). Different market segments were targeted by advertising on a wide range of TV and radio channels, and at different times. Given that communication campaigns in print and broadcast media are one way, they were designed to contain as much information as possible to answer any questions that clients could have regarding the product (Bergemann & Bonatti, 2011). Interactive media comprised of all the media outlets that could allow the company and its clients to engage real-time with each other (Correa et al., 2010). These comprised of social networking, mobile and via the company’s blog. As opposed to print and broadcast media platforms, interactive media provided capabilities for the company and target customers to engage constructively (Kim & Ko, 2012). Some of the major social media platforms that are ideal for such form of communication between companies and customers include Facebook, Twitter and Google+. Despi te the advantage of real-time engagement that social media presents for companies, information on a flaw of negative attribute on the product spreads very fast (Correa et al., 2010). Conclusion This paper has covered a wide range of issues that relate to the present-day business environment. In regard to the technological advancements that are taking place in the present-day business environment, Google and Yahoo have been used as cases to discuss the opportunities and threats that these advancements present to the company. The paper has also presented an overview of internal and external communication in Google, which has incorporates that factors that are considered and the channels that are used in the communication. Different marketing communication theories have also been presented. These include the heightened appreciation model and the advertising exposure model. In the paper, different organizations have been used in the explanation of various concepts presented. Based on the arguments that have been presented in the paper, companies have to ensure that they effectively communicate with their customers and also encourage cross-functional communication so as to succe ed in the current hypercompetitive business environment. Failure to implement an appropriate communication mix will not only have adverse effects on the marketing efforts of the company, but will also hamper internal operations. For future research, the marketing communication theories and models should be analyzed more broadly so as to establish their relevance to different businesses. References Adler, G., 2013. Management Communication. New Jersey: Prentice Hall. Alexa, 2014. Web company Information: Top Sites. [Online] Available at: http://www.alexa.com/topsites [Accessed 7 April 2014]. Bergemann, D. & Bonatti, A., 2011. Targeting in advertising markets: implications for offline versus online media. The RAND Journal of Economics, 42(3), pp.417-43. Butler, C.J., 2010. Internal and lateral communication in strategic alliance decision making. Management Decision, 48(5), pp.698-712. Butler, M., 2011. Android: changing the mobile landscape.Pervasive Computing. IEEE, 10(1), pp.4-7. Correa, T., Hinsley, A.W. & De Zuniga, H.G., 2010. Who interacts on the Web?: The intersection of users’ personality and social media use. Computers in Human Behavior, 26(2), pp.247-53. Dahlen, M., Lange, ?F. & Smith, ?T., 2010. Marketing Communications: A Brand Narrative Approach. California: John Wiley & Sons. Diefenbach, T. & Todnem, R., 2012. Reinventing Hierarchy and Bureaucracy: From the Bureau to Network Organizations. Bingley: Emerald Group Publishing. Ef rati, A., 2012. Once Shunning Ad Promos, Google Now Flaunts Itself. The Wall Street Journal, 27 March. [Accessed 7 April 2014]. Fill, C. & Hughes, G?., 2013. CIM Coursebook Marketing Communications. New Jersey: Routledge. Gandhewar, N. & Sheikh, R., 2011. Google Android: An Emerging Software Platform For Mobile Devices. International Journal on Computer Science & Engineering, pp.12-17. Goodman, J., 2006. Intranet Strategy. London: The Ark Group. Haigh, P., 2010. Social Network Websites: Their Benefits and Risks. London: Optimus Education eBooks. Hundal, B.S. & Grover, S., 2012. Consumer Responsiveness towards SMS Advertisements and its Effectiveness in the Present Scenario. Journal of Marketing & Communication, 7(3), pp.34-39. Lagrosen, S. & Josefsson, P., 2011. Social media marketing as an entrepreneurial learning process. International Journal of Technology Marketing, 6(4), pp.331-40. Lovelock, C. & Wirtz, J., 2011. Services Marketing: People, Technology, Strategy. Upper Saddle Ri ver: Prentice Hall. Moore, I., 2005. Does Your Marketing Sell?: The Secret of Effective Marketing Communications. Boston: Nicholas Brealey Pub. Nike, 2014. About Nike Inc. [Online] Available at: http://nikeinc.com/pages/about-nike-inc [Accessed 7 April 2014]. Persaud, A. & Azhar, I., 2012. Innovative mobile marketing via smartphones: are consumers readyMarketing Intelligence & Planning, 30(4), pp.418-43. Petit, C., Dubois, C., Harand, A. & Quazzotti, S., 2011. A new, innovative and marketable IP diagnosis to evaluate, qualify and find insights for the development of SMEs IP practices and use, based on the AIDA approach. World Patent Information, 33(1), pp.42-50. Plunkett, J.W., 2009. Plunkett’s E-Commerce and Internet Business Almanac 2009. Texas: Plunkett Research. Schultz, F., Utz, S. & Goritz, A., 2011. Is the medium the messagePerceptions of and reactions to crisis communication via twitter, blogs and traditional media. Public relations review, 37(1), pp.20-27. Segev, E. & Ahituv, N., 2010. Popular Searches in Google and Yahoo!: A â€Å"Digital Divide† in Information UsesThe Information Society, 26(1), pp.17-37. Shih, B.Y., Chen, C.Y. & Chen, Z.S., 2013. An empirical study of an internet marketing strategy for search engine optimization.. Human Factors and Ergonomics in Manufacturing & Service Industries, 23(6), pp.528-40. Shimp, T. & Andrews, J.C., 2013. Advertising promotion and other aspects of integrated marketing communications. Mason: Cengage Learning. The Financial Express, 2005. Creative motivation at Google Inc. The Financial Express, 14 May. Thomasson, E., 2014. Adidas sees hit from emerging market currency swings. Reuters, 5 March. Velazco, C., 2013. Done Deal: Apple Confirms It Acquired Israeli 3D Sensor Company PrimeSense. [Online] Available at: http://techcrunch.com/2013/11/24/apple-primesense-acquisition-confirmed/ [Accessed 7 April 2014]. Williamson, D., Cooke, P. & Jenkins, W., 2013. Strategic Management and Business Analysis . New Jersey: Routledge. Wright, M., 2012. Gower Handbook of Internal Communication. Burlington: Gower Publishing.

Bunting and Bunting

Bunting and Bunting Bunting and Bunting Bunting and Bunting By Maeve Maddox Brad K wants to know what connection there may be between bunting. that half-coil of red, white, and blue handrail decoration and the baseball tactic we call a bunt. The short answer is none. Bunting as a term for the red, white, and blue decorative material comes from flag use. In the 18th century bunting referred to a kind of cloth that was used to make flags. By extension, it came to mean a flag or flags in general. In the United States, France, and any other country whose flags contain those colors, bunting is red, white, and blue. The Italian equivalent of bunting would be green, white, and red. Before it became a baseball term, bunt was a verb meaning to strike with the head or horns (1825). The term entered the baseball lexicon in 1889, both as a noun and as a verb. For those readers unacquainted with baseball, when a hitter bunts, he holds up the bat to intercept the ball, but does not swing at it. A bunted ball does not go far and often catches the opposing players off guard. If a pitcher thinks that the batter intends to bunt, he will alter his manner of pitching. He did not want to bunt, but he wanted the Indians pitcher, Charles Nagy, and catcher, Sandy Alomar, to think he might be bunting and to pitch to him with that in mind. NOTE: Bunting is also the name of a type of bird. Bunting in the lullaby Bye Baby Bunting means chubby one. According to Brewers Dictionary of Phrase and Fable, Baby bunting was a nursery nurses term of affection for a young baby. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:What Does [sic] Mean?One Fell SwoopWriting a Thank You Note

The Theme of Self Pity in the Streetcar NamedDesire Essays

The Theme of Self Pity in the Streetcar NamedDesire Essays The Theme of Self Pity in the Streetcar NamedDesire Paper The Theme of Self Pity in the Streetcar NamedDesire Paper Essay Topic: A Streetcar Named Desire Self-pity in A Streetcar Named Desire Bernard Deckle is very accurate when stating that plays deal consistently with a serious theme self-pity, the persistence of memory that holds people in its grip and will not let them go on with their lives. The Streetcar Named Desire displays this theme primarily through the unstable, dislocated character of Balance. In effect, Balance acts as the vessel for a number of themes such as the denial of reality, love, cruelty and loneliness. Williams portrayal of the theme of self- itty through the character of Balance is exhibited by her erratic manner, her characters history, certain motifs in the play and major events. From the beginning of the play it is established that Balance is an insecure character with a plethora of reasons to be on the edge of madness. In fact In our very first encounter with her suggests a moth. This gives way to our assumptions that there Is something In her past that affects her greatly. She is immediately portrayed as a fallen woman in societys eyes she has lost her family fortune and estate, her young husband omitted suicide many years ago and she has a badly concealed drinking problem. Her indiscreet sexual behavior, which she flaunts constantly through the play, alludes to her promiscuous past. It Is evident that Blanches character Is plagued with Insecurities that effectively depict the theme of self-pity her Issue with her fading beauty is but one of these insecurities. Balance is in perpetual panic over her passing physical beauty. This is initially revealed by her idiosyncrasy of avoiding direct light [Balance] chant stand a naked light bulb! and her superficial need for compliments. She constantly demands admiring compliments and reassurance from the other characters; we recognizes her little weakness as evidence of her low self- esteem and vanity. This ties In with the theme of self-pity, as her need to psychologically support herself with compliments Is an aspect of how people are affected by self-pity. One significant memory that haunts Balance throughout the entire course of the play is the death of her young husband. She laments that Just before Allens death, they danced the Virginians! Music is significant when depicting how much anguish this recollection causes Balance the Visional polka tune plays at various points when Balance experiences great remorse for Allens death. The polka plays Increasingly often as she becomes more and more unhinged, and it often drives Blanch to distraction. The polka evokes the moment when Balance confronted Allen about his homosexuality and claimed that he disgusted her which led to his suicide. It represents Blanches loss of innocence, which we can trace to her gradual mental decline into insanity. This ties in with the theme of self-pity as it represents a significant memory that holds Balance in its grip and does not let go. She Is constantly harried by this brutal memory and whenever she panics and loses nerd grip on realty, ten variously strokes up . It Is evident Tanat Williams play A Streetcar Named Desire deals with the solemn theme of self-pity its impact is perfectly exemplified through the character of Balance and she explores this theme extensively. Overall we can link her destitute state and her decline into insanity to the self-decadence that grips her invariably.

Holes Book vs. Movie Essays

Holes Book vs. Movie Essays Holes Book vs. Movie Paper Holes Book vs. Movie Paper Digging for evidence as to whether or not the film adaptation of Holes was good Holes is a book by Louis Sachar that was first published in 1998. The film adaptation of this novel, also titled Holes, was released in 2003. These two literary works have many similarities and differences that can be easily compared, or contrasted. The film adaptation, directed by Andrew Davis, successfully represented the original novel by Sachar. Holes is the story of a young man by the name of Stanley Yelnats. Stanley is convicted of a crime that he was not the culprit of and, as a result, he is sent to Camp Green Lake. This camp is a Juvenile detention camp; the children there are required to dig holes every day as their punishment. While at Camp Green Lake, Stanley makes friends with a boy named Zero. These two become good friends and, one day, Zero runs away from the camp. Stanley decides that he should run away to in an effort to save Zero from certain death. When Stanley finds Zero they are both very weak; despite this, Stanley carries Zero to the top of a mountain by the camp and they survive off of onions up there for about a week. After this week, they decide to go ack to the camp in hopes of finding a treasure that is storied to have been located there. A few days before escaping Stanley found a lipstick tube in his hole, which may be a clue of where the treasure is located; so the boys return to this hole and dig. Soon they find a briefcase with the name Stanley Yelnats on it. This is the suitcase of Stanleys great grandfather who caused there to be a curse on the family. The way that he caused there to be a curse was by not keeping a promise to a woman named Madame Zeroni. He promised her that he would carry her to the top of the same ountain that the boys climbed in return for a pig. Unfortunately, he forgot about this promise and Madame Zeroni puts curse on his family for it. Zero is Madame Zeronis great grandson and when Stanley carries him to the top of the mountain he successfully lifts this curse. So when the boys find the suitcase they are discovered by the warden. She claims that the suitcase should be hers, but, unfortunately for her, Stanleys lawyer comes to the camp and says that he was proven innocent. The lawyer also says that Stanley is allowed to take the suitcase with him when leaving. In he suitcase there are many valuables that bring the familys of Stanley and Zero riches. In the end of the book both boys get to go home. Stanley goes back to his newly curse-less family and Zero goes back to his long lost mother; they are both very wealthy as a result of the treasure. The representation of some characters was good from the book to movie, but other characters were poorly represented in the film. This, in some situations decreases the validity of the adaptation; overall, though, the characters were adapted to the film well. One poorly represented character is the main character Stanley Yelnats. The creators of the film did not do a satisfactory Job of representing this characters physical attributes in the film. In the book he is described as a more heavy set child, but in the movie Shia LaBeouf, who is casted as Stanley, is very thin. The film makers also did fail to represent a lot of this characters physiological attributes. According to 21 centurylibrarian. om, l felt the book went into much more a ou Stanley Yelnats Inner tnougnts ana Teellngs wnlcn aaaea numor not transferred into the movie. The novel shows him as seeming to be threatening, but n the movie LaBeouf is very meek and calm in most situations. One physiological attribute of Yelnats correctly represented in the film is his awkwardness. Shia LaBeouf does an acceptable Job of showing this undeniable awkwardness . This inaccurate representation effects the film negatively because the viewer has an incorrect representation of how Stanley really is, thus changing the viewers entire outlook of the story. Most other characters, however, are casted well in the screenplay. The actor that plays Zero was similar in stature to how Zero was described in the book, and his attitude was very much the same. The emotional side of Zero was probably his most important attribute; Khleo Thomas, the actor that plays Zero, is successful in showing this emotional side. Other smaller characters have good casting, too. All of the actors who play these roles realize each characters major attributes and do a great Job of showing them in the film. For example, Noah Poletiek plays Twitch. As his name shows, he is a little bit crazy and Poletiek does a great Job of showing that Twitch may do anything at any second. He does a first-class Job of showing passion when Twitch speaks of cars, as well. This may have been the most rucial part of the role of Twitch. The actress who plays the Warden does an excellent job in every aspect of that role. According to TheBespectacledLibrarian. com, Sigourney Weaver was absolutely amazing as the Warden, intimidating and frightening while also believable as someone who had pinned her whole life on the search for treasure. Two more characters were represented in both the book and the movie. These two characters are Kate Barlow and Sam the Onion Man. These two are represented with great detail in the book, and the movie does an excellent Job of staying true to their appearances. Much of these two characters appearances is through expression, not physical form. For instance, a good casting of Kate is an actress that can go from being a si mple school teacher to a cold-blooded killer in the matter of one scene. Patricia Arquette, who plays Kissin Kate Barlow, does this exceptionally. An actor who plays Sam the Onion Man must be able to play the charming man that wins over the teacher. Dule Hill, who plays Sam, does a satisfactory Job of this in the film adaptation. One last character was Madame Zeroni. Eartha Kitt, who plays Madame Zeroni, does a very convincing role of the woman who ast the spell on the Yelnats family. The ways in which majority of the actors play their roles and represent their characters enhances the films overall effectiveness. Of all these roles, only one was unsatisfactory when compared to the character in the novel. The current day plot in the film had many similarities and differences when compared to the original book by Sachar. These plot changes made the movie a good adaptation due to the fact that many were minor and would have added many unnecessary details to the plot . There are many miniscule details in the plot that are changed in the movie for differentiating reasons. In the book there is a character by the name of Sarah Miller, she is the wife of Elya. In the movie the writers neglect to mention her existence. Since she doesnt affect the plot, her existence wasnt vital in the film. Something else that occurs in the book is an incident between Stanley and Zigzag. Zigzag hit Stanley on the head with a shovel and he gets a large gash. This gasn Is tnen Danaagea Dy Mr. Sir ana everyone seems to snow concern Tor Stanleys well being. In the movie, Squid is the attacker and Stanley is still the victim. No one seems to care for Stanley in the film during this incident; Zero is the one to assist him nd Stanley doesnt receive a gash, or even a cut. One final small detail that changes from the book to the film is when Stanley reaches the mountain. In the book he struggles to find water and must dig to reach it. In the movie, there is a stream that he and Zero drink from. This, obviously, means that no digging is required. If they were to dig for water it would have taken up time in the movie and would have dragged the movie on. All major points in the current day plot, however, remain true to the novel. In both Stanley is sent to camp and cures his family curse, along with all other major plot points. Staying this true to the plot helps make this film a good adaptation to the book. This story also has an abundance of flashbacks that add validity to the plot of the present day. The representation of these flashbacks in the movie was satisfactory due to the fact that the movie included all vital flashbacks, only changing details in them. These flashbacks occur in the film as well as the original book written by Sachar. Unfortunately, in the film adaptation there are a few flashbacks that cause this movie to incorrectly represent the book. For instance, Stanley Yelnats has flashbacks of being bullied when he was back home. This is mentioned in the book to help show that he had a tough social life, but the movie does not show these flashbacks for some reason. Also in the plot of Holes, there are countless flashbacks to the times of Kissin Kate Barlow and Sam the Onion Man. Although the film does include these flashbacks, it makes a few mistakes in detail when mentioning these flashbacks. For example, when Sam and Kate kiss in the book they are outside and it is raining. In the film when they kiss it is inside the school house and it is not raining outside Another flawed flash back including these two characters is when Sam is hot. In the book when he is shot they are both out on the boat together; in the film Sam is alone in the boat, but Kate is by the shore and witnesses this murder. The changing of these flashbacks did decrease effectiveness of the film, but not enough to drastically change the films quality. There is one more detail from the past that the movie changes. This detail involves the amount of money in the treasure that the Yelnats family receives in the end of the story. In the movie there is one bond that was worth twenty five thousand in nineteen hundred and five. This would be equal to illions in present time in the story. In the novel, on the other hand, there are multiple bonds worth close to one million dollars. There was also a presence of jewels worth about twenty five thousand in total. This small detail doesnt have a big enough effect to effect the adaptations validity, but could have easily been represented correctly. Despite all these minor changes, the film does accurately show the big picture in these areas. The cinematic version overall does show the novels intentions for the flashbacks successfully. Conclusively, there are many factors that show whether or not the film adaptation f Holes was good or not. Based on these chosen factors, the film, directed by Andrew Davis, did accurately represent the novel Considering all factors, the film adaptation was one of high quality. According to TheReadventurer. com, As this movie went from scene to scene following the book almost to the word on some pages malntalnlng almost everytnlng even tne trlcKy T lasnoacKs wnlcn I was 1 sure that theyd never be able to duplicate in film even the food served in the cafeteria realized that this was actually the most faithful film adaptation of any book Id ever seen. EVER. Catie. Book vs. Movie: Holes by Louis Sachar. The Readventurer. The Readventurer, 26 February 2012. web. 5 October 2013. Holes. Dir. Andrew Davis. Walt Disney Pictures, 2003. Film. Joy. Book vs. Movie: Holes. The Bespectacled Librarian. The Bespectacled Librarian, 19 February 2013. web. 5 October 2013. PaJtas, Margaret. Holes the Movie vs. the Book. 21st Century Librarian. 21st Century Libranan, 27 February 2009. web. 5 October 2013 . Sachar, Louis. Holes. New York: Yearling, 1998. Print. Sachar, Louis. Holes the Book. Louis Sachar. Louis Sachar, 2002. Web. 18 October 2013.

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