Assignment 5 Essay Example | Topics and Well Written Essays - 1000 words

Assignment 5 - Essay Example The company was designed to create cruise ships especially for pleasure in the warm-water Caribbean. Royal Caribbean Cruise Case sailed not only in the Caribbean but also in many other parts of the world (AirGuide Business 216). The Work System Framework Following the work system framework, the company can be analyzed by its activities and processes, information, technologies, products and services, the environment, strategies and infrastructure. Below is a detailed analysis following the criterion. Processes and Activities There were several activities that could be identified within the Caribbean work system. The processes were aimed at enhancing the customer experience, reducing costs, and increasing revenue. As such, activities such as deployment of ships to the US ports – a new development in the industry, carrying out promotion including giving huge discounts to customers have been witnessed in the company. The aim is to entice customers to travel and in the long run rea lize higher revenue. Another key process in the company is a distribution which is mainly done using the Travel Agent Channel. The participants in the Caribbean who ensure that these processes and activities are promptly and conveniently accomplished include the employees in the organization (The Cruise Industry News Quarterly 24). The company like any other is composed of the management, technical staff, travel agents and many other participants that work strongly to ensure that the objectives of the company are vehemently met (Applegate, Austin and McFarlan 56). Information Information plays an increasingly significant role in the Royal Caribbean Cruise case work system. This has particularly followed the realization that information is perhaps the most powerful tool that any organization can use to remain relevant in the wake of competition witnessed in the dynamics of the society. The Caribbean realized this and took a significant step in using the resource in marketing their se rvices. This is a way to enhancing their competitive advantage and is in line with their objectives of increasing revenue. Technologies Technologies were not left behind. At a time when technologies sweep the globe at a rate never witnessed before, the Caribbean realized that it is perhaps the only way to stand the test of time. Consequently, the issue of connectivity was very fundamental. Satellite was used to facilitate communication to the onshore purchasing agents and to the vendors. Ship-to-shore synchronization was also ensured at least four times a day. JDE system was used for financial gains of the company. This system was particularly critical in the accounting inventory and in the management of cash. The nature of the ship management was very diverse and required a special information subsystem to fulfill these special needs. AMOS was developed by developed by the Xantic Software Company again in the realization of the need for information technologies for the Caribbean. T he information system was specifically designed for ship maintenance purposes. It was fully implemented. However, there was significant work needed to standardize the parts database. Other technologies also formed part of this reputable ship management processes. As a result, technological equipments were fundamentally utilized to ensure that the ship met the legal and safety requirements and standards. Galley equipment, engines, valves, electrical systems, and even consumable items such

Achilles - Greek Mythology Essay Example for Free

Achilles Greek Mythology Essay Ancient Greeks lived a very unique lifestyle in their times. They knew no one of Greece. This helped them to live by their own ways and not follow anything that happened outside of Greece because they simply could not. In parts of Greek mythology gods could not interfere with fate and gods intervened directly in mortals lives. There were many examples of these things happening. One aspect learned in the Voyage of Odysseus was gods could not interfere with fate. There were many encounters where fate overpowered gods in Greek mythology. For example, what happened with Polyphemus and Odysseus. Odysseus hurt Polyphemus by tricking him into drinking too much which left him unconscious and defenseless. Odysseus took advantage of this and stabbed him in the eye. He then left and went on his journey home. In the story Polyphemus says, I call upon Poseidon, the god of the sea, whose son am I, to avenge upon you, upon Poseidon to grant that you, Odysseus may never come to your home,or if the gods have ordained your return that you come to it after much toil and suffering, in an evil plight and in a strangers ship, to find sorrow in your home (Colum, 199-200) This proves that gods cannot interfere with fate because Polyphemus called upon Poseidon to interfere with Odysseus’ fate but Poseidon could not, Odysseus got home safely and untouched by Poseidon. He enjoyed a safe journey home. This shows how in the end, Odysseus’ fate overcame Poseidon as a god and what he wished or intended for in the story the Voyage of Odysseus. This is one of the examples of how gods cannot interfere with fate of others. Another aspect was gods intervened directly in mortals lives. This happened more than once, but one of the times was when Achilles hurt his knee during the battle between him and Hector. Achilles states in the story, â€Å"Die, hound. My fate I meet when Zeus and the other gods decree.† (Church 131) Achilles hurt his knee during the battle, and gods cured it so he could  keep running. This is one thing that happened in the Trojan War that explains how gods intervened directly in mortals live. Therefore if Achilles was not cured by the gods he would not able to keep running and would likely not be able to win the battle. Overall, during Greek mythology there were many encounters with goals but we have realized gods could not interfere with fate. Although gods could not interfere with fate they did intervene with mortals lives. After reading Greek mythology what can truly be said about it is it is a very interesting topic to learn about and great for all ages.

Milk Brands In Mauritius

Milk Brands In Mauritius Literature review is a critical and an evaluative summary of the themes, issues, and arguments of a specific clearly defined research topic. The aim of this chapter is to review the points of findings about the title how milk brands affect the purchasing decisions of consumers. 2.1 Brief History on Milk Brands in Mauritius Mauritius imports milk powders from Australia and New Zealand. The milk powders have different brand names such as Farmland, Twin cow and others all depend the countries, which it come from. Once it reaches the home country, it is being channeled to two or more industries in Mauritius for its packaging. Then, it is being sold in bulk to shops, super and hypermarkets. Companies such as Innodis Ltd, ISO Pack Ltd, Eden vale Distributors Ltd, and other pack the different milk brands and distribute them. However, Mauritius imports milk from other countries because its consumption has rapidly been increased. In addition, importation of milk is becoming necessary for Mauritius due to increase in demand of branded milk by Mauritian clients. Regardless to the price and quantity, quality of the product has always been the main factor for customers in their product selection. Branding plays a key role in the recognition of the product. The annual consumption of milk in Mauritius is approximately nine millions litres which is equivalent to 12% of the total consumption of different brand names (Hulman et al., 1990). There is a rise in the demand for milk in Mauritius. In 2013, the Mauritian customers are moving towards mostly Farmland due to its quality and advertisement on T.V and radio. In our island, the brand names for milk have substitutes due to the different brand names available on the market. Thus, if we are not satisfied with a particular milk brand, we always have the choice to opt for another brand. According to AGA Webmaster FOA (2013), the aim is to ensure milk brand marketed in Mauritius are affordable and the emphasis on Human Resources Development (H.R.D) and provision of inputs and services to enhance production and milk brand processing to facilitate marketing in Mauritius. In the year 1971, the Milk and Meat Project Food and Agriculture Organization (FAO) interpreted that, there is a lack of supplement limited milk production. Furthermore, it was not determined whether it was energy or protein in the supplement that was important, and the basal diet of cane tops and grasses was not evaluated. The FAO has proved that milk yield could be increased significantly by better feeding and management. 2.2 Elements That Influences Consumers Towards Milk Brand Through advertising, design and media commentary milk brands have made its place in the market in Mauritius. This leads branding to give an image of the product to consumers to make a purchasing decision. As per Pearce (2013), the elements that influence consumers are as follows: NAME LOGO TASTE FONTS COLOR SCHEME PACKAGE GRAPHICS SHAPES These points above shared an advance information about implicit values, ideas, benefits and as well as it developed the personality of the consumers while buying the product. Consumers face purchasing decisions nearly every day. Hence, they established a willingness to purchase brand products. Consumers purchasing decisions of brand milk have created certain attributes and interactions in recent years using several methods by means of both qualitative and quantitative (Anon, n.d). 2.3 The Importance Of Branding When Consumers Take Purchasing Decision According to Kotler (1994), Branding is the best way to establish the authority, niche and credibility and authority of individual and business. In other words branding is not only convenient for business or for repeated customer but also easier for others to filter out the countless generic items. The bargaining power of Mauritius is limited. Recently, in an article published on the website businessmega, it was found that about 10,000 metric tons of milk powder is imported on a yearly basis depending on demand and consumption, which is less in quantity in comparison to other countries. The Executive director of La Trobe ltd, Mr. L. Wong and the supplier of Snowy milk stated that local distributors have the entire influence over the prices (Anon, 2011). The importance of branding is as follows: Branding communicates information about the business. Share all types of information about the product to the market. It establishes an identity in order for consumers to recognize the product very well. Branding gives consumers the assurance that the entire products they buy are trustful and enable positive responses from the latter. Branding gives a strategic position in the market and through this, company eventually leads to increased profits. Branding shows an advance details for example: Cost of the products Packaging Marketing and advertising strategies Distribution channels and so on. Branding is the powerful factor in marketing, which helps consumers in taking purchasing decision. When the client is satisfied with a given branded product, they tend to revert to the same brand supplier, (Badgujar (Roll No.04)). 2.4 Brand Awareness To Consumers Donald (2010) defined brand awareness as the customers ability to recall and recognize the brand under different conditions and link to the brand name, logo, and so on to certain associations in memory. That is brand awareness encompasses both brand recognition and brand recall. It helps the customers to understand to which product or service category the particular brand belongs and what products and services are sold under the brand name. It also ensures that customers know which of their needs are satisfied by the brand through its products. Brand awareness is of critical importance since customers will not consider a particular brand if they are not aware of it (Donald, 2010). However, Epstein (1977) argued that human and brand personality traits share the same conceptualization but they differentiate in terms of how they are created. There are three types of brand awareness, which are as follows: Top-of-Mind Awareness occurs when the companys brand is what pops into a consumers mind when asked to name brands in a product category. For example, when someone is asked to name a type of facial tissue, the common answer is Kleenex, which is a top-of-mind brand. Aided Awareness occurs when a consumer reads a list of brands, and expresses familiarity with companys brand only after they hear or see it as a type of memory aide. Strategic Awareness occurs when the companys brand is not only top-of-mind to consumers, but also has distinctive qualities that stick out to consumers as making it better than the other brands in your market. These three types of awareness above inform consumers about some objectives that a good brand of milk product will achieve include: Motivates the buyers Concretes user loyalty Delivers the message clearly Connects the consumers target prospects emotionally Confirms the consumers credibility In Mauritius, almost everyone consumes branded milk such as Anchor, Farmland, Snowy, Red Cow, and others on a daily basis. 2.5 Milk Brand Production And Milk Pricing Branding can result in higher sales of other types and varieties of product associated with a specific branded product. Branding should also analyze by more than the difference between the actual cost of a product and its selling price and they represent the sum of all valuable qualities of a product to the consumer. The branding concept here is taking into account complexity of human behavior and benefit of consumers. Our country import milk from various countries that increase the consumption and the productivity of dairy product in Mauritius. Other countries such as Europe, Australia, and New Zealand and so on are also the exporters for Mauritius. Europe produces milk, New Zealand produces Red Cow and Australia produces Snowy milk, Farmland, Dolly and Anchor. Furthermore, the price hike of imported milk is forcing people to diminish consumption. Multiple actors show the situation will not improve and local production is the only way out. 80% of the milk consumed in Mauritius comes from Australia and New Zealand by Olivier Masson, 2 July 2007 Port Louis. According to Lake (n.d), branding is ones identity in the marketplace. She stated that, it is crucial to realize that packaging always either has a negative or positive influence on the buyer. A negative impression can detour a potential client, just like a positive reaction can influence a customer to buy. She also said that one should pay special attention to packaging when a new brand is launch. This is because many people often do not pay close attention to the packaging if it is a popular brand. How can you package your brand so that it is an integral part of your business and represents a strong identity? Keep in mind that we are not speaking that packaging has only a box, which contains a product, but as a medium, that reflects your companys brand and image. The following common business tools represent packaging: Business cards and stationery Web site Answering system Email address Food packaging is packaging for food. It requires protection, tampering resistance, and special physical, chemical, or biological needs. Milk plays an important role in peoples goal of eating healthily and having an active lifestyle. Milk manufacturers therefore are riding this trend by introducing milk brands that are aimed at health-conscious people. Extracted from the Inspiration Hive, Daily Inspiration on July 9, 2012. With the statement, packaging is a way of formulating a feasible marketing strategy for milk brand. The products presentation leads to a competitive pricing policy and a well-planned advertising campaign will convince consumers to purchase the branded milk. 2.5.2 Preservation In Mauritius, almost everyone consumes branded milk such as Anchor, Farmland, Snowy, Red Cow, and others on a daily basis. Thus, branded milk imported in bulk from other countries and conservation plays is a major factor during these periods. The process of Ultra-high temperature takes place. That is, milk preserved by UHT processing does not need to refrigerate before opening and has a longer shelf life than milk in ordinary packaging. It is sold unrefrigerated in the UK, Europe, Latin America, and Australia. This process helps trade to take place and fulfill the choice, needs, and wants of consumers. 2.6 The Objectives Of Brand In Purchasing Decision Branding is a way to communicate to consumers about the types of products available in the markets. This gives rise to some objectives that should be taken into consideration while dealing with consumers, (Kotler et al. 2001). The objectives that branding should achieve include: Delivers the message clearly Confirms consumers credibility Connects consumers target prospects emotionally Motivates the buyer Concretes user Loyalty Therefore, to succeed in branding, companies must understand the needs and wants of customers and prospects stated by Kotler and Armstrong, 2008. Therefore, by integrating the companys brand strategies through the company at every point of public contact will lead to an increase in demands of products stated by Laura Lake. Taking into consideration the objectives of brand milk in purchasing decisions, marketers also focus in marketing strategies which are; promotion and promotion mix, tools of promotion, advertising and gaining the market share. 2.6.1 Promotion And Promotion Mix Based on Kotler, 1994, promotion is the fourth marketing mix tool. It is the different activities that companies undertake to communicate and promote its products to the target market. Nowadays, companies hire advertising agencies to develop effective advertisements, sales promotion specialist to design buying-incentive programs, direct marketing specialists to build database and interact with consumers and prospect by mail and telephone, public relation firms to supply product publicity and finally develop corporate image of the brand. Furthermore, the promotion mix consists of five major tools referring to Kotler, 1994, are as follows: Advertising Direct marketing Sales Promotion Public Relation and Publicity Personal Selling McCharty 1982, p.37, stated that promotion is concerned with telling the target market about the right product. Promotion includes personal selling, mass selling, and sales promotion. Through the statement of Kotler and McCharty, the aim of purchasing brand milk will lead to an effective measure to make better purchasing decisions. 2.6.2 TOOLS Of PROMOTION The four main tools of promotion are advertising, public relation, direct marketing and sales promotion which convey the message to the consumers. Advertising includes any paid forms of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor. In contrast, public relations focus on building good relations with the company by obtaining favorable unpaid publicity. Direct marketing is any form of personal presentation by the firms sales force for the purposes of making sales and building customer relationships. Firms use sales promotion to provide short-time incentives to encourage the purchase or sale of products or services, stated by Armstrong and Kilter, 1999. Tools of promotion encourage and motivate consumers to purchase brand milk along the benefits providing to them. 2.6.3 Advertising According to Armstrong and Kotler (1999), regardless to the budget size, advertising can succeed only if commercials gain attention and communicate well. Good advertising messages are especially important in todays costly and cluttered advertising environment. Two steps are involved: Firstly, creating effective advertising strategies begins with identifying customer benefits that can be use as advertising appeals. Secondly, to develop a compelling creative concept that will bring the message to life in a distinctive and memorable way. Advertising is also the integral part of our social and economic system. In other words, it is a co commitment of modern marketing, which helps the consumers at least in three ways to purchase brand milk, which are as follows: It acts as driving force in decision making. It ensures better quality products as reasonable prices. It saves good deal of time. 2.6.4 Gaining The Market Share Referring to Kilter, 1988, gaining market share is a key factor in reaching a leadership or number one position in any industry. However, gaining significant share requires careful planning, thoughtful well-executed market strategies, and specific account-by-account practical plans. Gaining market share is an extremely important component in the promotion of marketing strategies. Thus, it is difficult for a company to obtain loyalty without gaining high market share. Kilter (1988) also suggested that the five major strategies, which consist of price, new product, service, strength, and quality of marketing, advertising, and sales promotion, are important for a company. 2.7 Factors Of Brand Positioning Positioning is how a product appears in relation to other products in the market. It is one of the main factors that affect consumers perceptions of the milk brand. Brand positioning can help make or break a product depending on the effectiveness of its execution, (subtracted from brand by social). The factors of brand positioning are as follows: 1. Brand Attributes What the brand delivers through features and benefits to consumers? 2. Consumer Expectations What consumers expect to receive from the brand? 3. Competitor attributes What the other brands in the market offer through features and benefits to consumers? 4. Price Price is an easy quantifiable factor and as well as the prices to compete with other companies. 5. Consumer perceptions The perceived quality and value of the companys brand in consumers minds (i.e., does the companys brand offer the cheap solution, the good value for the money solution, the high-end, high-price tag solution and so on ), mentioned by Aaker and Keller 1990, Aaker and Keller 1992, Sunde and Brodie 1993, Dacin and Smith 1994, Bottomley and Dolye 1996. So, this take some time to create a thorough picture of the current market and how the companys brand fits in that market to determine the companys brands current position. If that is not the position you want for the companys brand, take the necessary steps to change it based on the gaps defined when the company analyzed the five factors above. 2.8 Milk Production In Mauritius Currently, in Mauritius we are producing 12% of our local milk production that is 12million liters per year. The government of Mauritius has been encouraging farmers to engage in milk production by providing loans facilities of up to Rs 50,000 per head (with 5% interest). Through this initiative, local milk production has increased slightly over the past years (local milk production was 2% in 2003). However, there are still several challenges faced by breeders and entrepreneurs in the diary industry: the main challenge is the high cost of production, mention in 2013 Nawsheens World, templates: Monday, October 31, 2011. Mauritius produces a few milk brands, which are as follows: Island Dairy Ole Twin Cows Candia Maurilait Over the past years, the cost of production has been continuously increasing mainly because of the price of animal feeds, hence reducing profitability in the business. Milk production will mainly depend on: Management of feeding programs Calf and heifer management Reproductive management of dairy cows Milking management Other husbandry practices related to animal health and welfare, housing, environment and bio-security measures, (2013 Nawsheens World, templates: Monday, October 31, 2011). However, as long as local suppliers cannot sustain our domestic market, no other stuff than milk is more linked with the drawbacks of globalization. 80% of the milk consumed in Mauritius comes from New Zealand and Australia, explains Jean-Cyril Monty, the officer in charge of the diversification desk at the Mauritius Chamber of Agriculture. The latter also suggested that, now that the price has risen by 40% since the beginning of the year 2007, people are diminishing their consumption. This rise in price, which he believes will continue with another 30% by the end of the year, is related to multiple factors outside our control. 2.8.1 Findings On Production Of Milk In Mauritius The quantity of milk produced by the village cows in this experiment (9.2 kg/d during 300 days) is higher than the average production of between 3.5 and 9.2 kg/d reported for the Government stations where cow feed is fed at the rate of 0.5 kg/kg milk. It is also relevant to compare it with the milk production of unsupplemented village cows (4 to 5 kg/d for a lactation period of around 225 days). Although there were only 23 (about 25%) Creole cows in the study their milk production potential appeared to be equal to the more exotic genotypes with a daily mean of 9.6 and 8.3 kg per head for a 301- day lactation in the Vacoas and Mapou areas respectively. This indicates that under these village conditions the Creole breed has a similar performance to the imported Friesians or their crosses. Mauritius milk production can sum up in the following ways: The village cattle breeders own about 11000 females over one year of age. This represents about 65% of the female national herd in this age group. The cattle are a side-line activity of the family. There are normally one to two cows per farm No forage is specifically cultivated for the cows. Forage sources include sugar cane tops, and shrubs and grasses, which are found on roadsides and on common land. The housing and shelter of the tethered animals is often rudimentary. Milk is sold to neighbours or to small scale (20 25 l/d) milk sellers who then distribute the milk. There is little or no use of concentrate feeds as supplements to the hand-collected forage. The cattle are a mixture of the local Creole breed and Friesians. Artificial insemination is subsidised by the Government and is widely used. Milk production is generally low (1200 1500 liters per lactation). There are generally relatively short lactations (about 225 250 days) and long calving intervals (15 18 months). On the basis that the small breeders make a major contribution to national production of fresh milk the work reported here was designed to investigate the extent to which productivity in this sector could be improved. As far back as 1956, Bennie reported that the local Creole cattle could double their milk production with improved feeding. In 1971, an FAO project on Milk and Meat Production suggested that the most important factor limiting milk production was the supply of a protein concentrate to the cow. This FAO project also demonstrated that milk yield could be increased considerably by better feeding and management. (By A A Boodoo, R Ramjee, B Hulman, F Dolberg* and J B Rome*). More recently, Dolberg and Rowe (1984), in reviewing experimental work done by the Mauritian Ministry of Agriculture on milk production, concluded that under local conditions greatest responses in milk production would be expected from protein supplementation. They referred to the work of Mapoon et al (1977) which showed that ground nut cake was more efficient then either a balanced concentrate feed, or a molasses/urea mixture, as a supplement for milk production; and to that of Gaya et al (1982) who reported that supplementation with cottonseed cake increased milk production more effectively than the formulated concentrate [emailprotected] In fact, similar increases in milk production were achieved with about half the level of cotton seed cake as commercial concentrate. A second advantage of cottonseed cake as a supplementary feed is that it requires no mixing. The project described here was designed to investigate and compare the effect of two types of supplements: the commercial concentrate [emailprotected] and the protein-rich cotton seed cake. In addition to the measurements of milk production the study provided the opportunity to investigate, the nutritive value of the most commonly used feed resources (see Boodoo et al 1990). Factors Influencing Brand Preference Kotler (1988) identified affective means of increasing market share as a primary means of achieving competitive advantage in both existing and new customers and stagnant markets. Brand preference is also known as brand adoption. Lalit S. Badgujar (Roll No.04) stated that, people begin to develop preferences at early ages. Brand preference represents which brands are preferred under assumptions of equality in price and availability. Cooper (1993) noted that most innovations come with high risks as most of them failed in the marketplace creating the need for marketers to have a clear understanding of success factors in brand adoption. Theories of adoption have often been used to explain how consumers form references for various goods and services (Rogers, 1995; Tornasky and Klein, 1982; Mason, 1990; Charlotte, 1999). Generally, these theories emphasize on the importance of complexity, compatibility, observability, triability, relative advantage, risk, cost, communicability, divisibility, profitability, social approval, and product characteristics in brand preference (Wee, 2003). The relative importance of each factor depends on the nature of industry under consideration, location, and social characteristics of the consumers of the different brands. In this study, we have focused on four main factors, which the customer depends upon while selecting the brand, which are as follows: 2.9.1 Price Price is a factor, which the consumer may depend while selecting a brand in any kind of product. Most of the consumers may give first preference to quality than the other factors. However, price can have an influence for the final decision of the consumer. If there are two or more brands, for a particular product, the manufacturers will reduce the price in order to attract the consumer but still the consumer must see the quality provided. 2.9.2 Quality In addition, quality of product is another key factor during product selection. Especially in the case of milk, we should depend upon than any other factors the quality. High quality will give us a good health. Pasteurization will also conduct in order to maintain the quality of the milk. The quality of the milk should be good to attract the customers, Kilter (1988). 2.9.3 Services Service is an important factor, which the customer is influenced in the modern market. Placing the orders in the right time at the right place is the part of good servicing. 2.9.4 Advertisement Advertising as a powerful technique of sales promotion has been doing wonders in the domain distribution because it is quite capable of influencing the course of consumption, affecting the process of production, enlarging the exchange and diversify the distribution. That is why it is said that advertising is the arch median lever that motivates the world of commerce and industry. It has the pride of the place in framework of dynamic marketing. The role of advertising in the modern business world can be analyzed from five distinct angles namely manufacturer, intermediaries, sales force, consumers and the society. The ultimate aim of all marketing efforts is to satisfy the needs of the consumers by transforming the benefits of productive efficiency to the final users. 2.10 Conclusion To conclude, this chapter is mainly about branding that is, its importance, concepts, positioning and so on. According to Shimp (2007), consumers represent the starting point for all marketing activities. Therefore, in this part of the project, it is viewed how to communicate with customers and send them feedback about the types of products available in the market. In the literature review, different parts have described in details to make a good analysis and choice for milk brand selection.

Romeo and Juliet: Act 1 Scene 5 Essay -- English Literature Essays

Romeo and Juliet: Act 1 Scene 5 In William Shakespeare’s play Romeo and Juliet, about two love struck teenagers whom aren’t able to be together due to their families feud/ social situation. There are two key themes that of love and hate. Before Romeo and Juliet meet, the audience is only aware that he is a Montague and that she is a Capulet. This adds to the scene being so dramatically effective as do other happenings throughout the length of the scene. These include the speech of Capulet and the happy and joyous mood of the party, The romantic speech of Romeo, The hatred and harshness of Tybalt’s speech, a direct contrast with that of Romeo’s and the drama when the two lovers, Romeo and Juliet first meet. At the start of Act 1 scene 5, Capulet turns to the maskers at the ball and delivers a speech rather jokingly tell all to enjoy the night and dance to the music. This speech is important as it lets the Audience know and that this night is a happy and joyous occasion. As a reader or observer you feel Capulet is happy, because the event is just for Capulet’s. He and the others feel only happy when they’re with their own kind, this adds to the dramatic effectiveness of the scene because as an audience member you are now even more aware of the great tension that is waiting to explode between the houses of Capulet and Montague. This joyous occasion is also of stark contrast to the fighting at the beginning of the play. More important speeches are made including that of Rom...

DOZIER industri Essay

Richard Rothschild, the chief financial officer of Dozier Industries, returned to his office after meeting with two officers of Southeastern National Bank. He had requested the meeting to discuss financial issues related to Dozier’s first major international sales contract, which had been confirmed the previous day, January 13, 1986. Initially, Rothschild had contacted Robert Leigh, a vice president of the bank, who had primary responsibilities for Dozier’s business with Southeastern National. Leigh, feeling that he lacked the international expertise to answer all the questions Rothschild might raise, had suggested that John Gunn of the bank’s International Division be included. The meeting had focused on the exchange risk related to the new sales contract. Dozier’s bid of (British pounds) GBP1.175 million to install an internal security system for a large manufacturing firm in the United Kingdom had been accepted. In accordance with the contract, the British firm had transferred a 10% deposit (GBP117,500), the balance due when the system was completed. Dozier’s production vice president, Mike Miles, had assured Rothschild that there would be no difficulty in completing the project within the 90-day period stipulated in the bid. As a result, Rothschild was planning on receiving GBP1.0575 million on April 14, 1986. Company History Dozier Industries, a relatively young firm specializing in electronic security systems, was established in 1973 by Charles L. Dozier, who was still president and the owner of 78% of the stock. The remaining 22% was held by other members of management. Dozier had formerly been a design engineer for a large electronics firm. In 1973 he began his own company to market security systems and began by concentrating on military sales. The company experienced rapid growth for almost a decade. But in 1982, as Dozier faced increased competition in this market, management attempted to branch out to design systems for small private firms and households. Dozier’s  inexperience in this market, combined with poor planning efforts, slowed sales growth and led to a severe reduction in profits (see Exhibit 1). The company shifted its focus to larger corporations and met with better success. In 1985, the company showed a profit for the first time in three years, and management was This case was prepared by Professor Mark R. Eaker. It was written as a basis for class discussion rather than to illustrate effective or ineffective handling of an administrative situation. Copyright  © 1986 by the University of Virginia Darden School Foundation, Charlottesville, VA. All rights reserved. To order copies, send an e-mail to sales@dardenbusinesspublishing.com No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of the Darden School Foundation. ââ€"ŠÂ  confident that the company had turned the corner. Exhibit 2 contains the balance sheet at the end of 1985. The company’s management believed that sales to foreign corporations represented good prospects for future growth. Consequently, in the spring of 1985, Dozier had launched a marketing effort overseas. The selling effort had not met with much success until the confirmation of the contract discussed previously. The new sales contract, although large in itself, had the potential of being expanded in the future because the company involved was a large multinational firm with manufacturing facilities in many countries. Foreign Exchange Risk and Hedging On January 13, the day the bid was accepted, the value of the pound was (U.S. dollars) USD1.4480. But the pound had weakened over the previous six weeks  (see Exhibit 5). Rothschild was concerned that the value of the pound might depreciate even further during the next 90 days, and it was this worry that prompted his discussion at the bank. He wanted to find out what techniques were available to Dozier to reduce the exchange risk created by the outstanding pound receivable. Gunn, the international specialist, had explained that Rothschild had several alternatives. First, of course, he could do nothing. This would leave Dozier vulnerable to pound fluctuations, which would entail losses if the pound depreciated, or gains if it appreciated versus the dollar. On the other hand, Rothschild could choose to hedge his exchange risk. Gunn explained that a hedge involved taking a position opposite to the one that was creating the foreign exchange exposure. This could be accomplished either by engaging in a forward contract or via a spot transaction. Since Dozier had an outstanding pound receivable, the appropriate hedging transactions would be to sell pounds forward 90 days or to secure a 90-day pound loan. By selling pounds forward, Dozier would incur an obligation to deliver pounds 90 days from now at the rate established today. This would ensure that Dozier would receive a set dollar value for its pound receivable, regardless of the spot rate that existed in t he future. The spot hedge worked similarly in that it also created a pound obligation 90 days hence. Dozier would borrow pounds and exchange the proceeds into dollars at the spot rate. On April 13, Dozier would use its pound receipts to repay the loan. Any gains or losses on the receivable due to a change in the value of the pound would be offset by equivalent losses or gains on the loan payment. Leigh assured Rothschild that Southeastern National would be able to assist Dozier in implementing whatever decision Rothschild made. Dozier had a USD3 million line of credit with Southeastern National. John Gunn indicated that there would be no difficulty for Southeastern to arrange the pound loan for Dozier through its correspondent bank in London. He believed that such a loan would be at 1.5% above the U.K. prime rate. In order to assist Rothschild in making his  decision, Gunn provided him with information on interest rates, spot and forward exchange rates, as well as historical and forecasted information on the pound (see Exhibits 4, 5, and 6). Rothschild was aware that in preparing the bid, Dozier had allowed for a profit margin of only 6% in order to increase the likelihood of winning the bid and, hence, developing an important foreign contact. The bid was submitted on December 3, 1985. In arriving at the bid, the company had estimated the cost of the project, added an amount as profit, but kept in mind the highest bid that could conceivably win the contract. The calculations were made in dollars and then converted to pounds at the spot rate existing on December 3 (see Exhibit 3), since the U.K. company had stipulated payment in pounds. Rothschild realized that the amount involved in the contract was such that an adverse move in the pound exchange rate could put Dozier in a loss position for 1986 if the transactions were left unhedged. On the other hand, he also became aware of the fact that hedging had its own costs. Still, a decision had to be made. He knew that no action implied that an unhedged position was the best alternative for the company. Exhibit 1 DOZIER INDUSTRIES (A) Sales and Income Summary Year Ended December 31 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 Sales (in thousands) 456 631 890 1,610 3,860 7,242 11,338 15,138 20,371 21,455 22,501 23,986 25,462 Net Income (in thousands) 41 54 73 151 324 760 1,162 1,488 1,925 712 (242) (36) 309 Exhibit 2 DOZIER INDUSTRIES (A) Balance Sheet as of December 31, 1985 Assets Current assets: Cash and securities Accounts receivable Inventories Total current assets Properties, plants, and equipment: At cost Less: Accumulated depreciation Net plant Other assets: Investments and loans Total assets Liabilities and Equity Current liabilities: Accounts payable Notes payable – bank Total current liabilities Long-term liabilities: Notes payable Common equity: Common stock Reserves Retained earnings Total equity Total liabilities and equity USD294,572 1,719,494 2,227,066 4,241,132 8,429,812 2,633,404 5,796,408 450,000 USD10,487,540 934,582 652,800 1,587,382 550,000 2,253,410 627,244 5,469,504 8,350,158 USD10,487,540 Exhibit 3 DOZIER INDUSTRIES (A) Bid Preparation Materials Direct labor Shipping USD847,061 416,820 70,000 Direct overhead* 208,410 Allocation of indirect overhead 100,492 Total cost Profit factor 1,642,783 USD98,567 Spot pound rate on December 3: USD1.4820 Pound value of the bid: GBP1,175,000 * Based on 50% of direct labor. Exhibit 4 DOZIER INDUSTRIES (A) Interest and Exchange Rate Comparisons January 14, 1986 Three-month money* Prime lending rate Three-month deposits (large amounts) EUR/USD 3-month (LIBOR) EUR/USD 3-month (Paris) 3-month treasury bills in London United States United Kingdom 7.65 13.41 9.50 13.50 8.00 12.90 8.3 13.2 12.2 The spot rate for the pound: USD1.4370 Three-month forward pound: USD1.4198 * Prime commercial paper in the United States; Interbank rates in the United Kingdom. Source: The Economist. Exhibit 5 DOZIER INDUSTRIES (A) Historical Spot and Forward Pound Rates in U.S. Dollars 7/9/85 7/16 7/23 7/30 8/6 8/13 8/20 8/27 9/4 9/10 9/17 9/24 10/1 10/8 10/15 10/22 10/29 11/5 11/12 11/19 11/26 12/3 12/10 12/17 12/23 12/30 1/7/86 1/14/86 Spot 1.3640 1.3880 1.4090 1.4170 1.3405 1.3940 1.3900 1.3940 1.3665 1.3065 1.3330 1.4200 1.4120 1.4155 1.4120 1.4290 1.4390 1.4315 1.4158 1.4320 1.4750 1.4820 1.4338 1.4380 1.4245 1.4390 1.4420 1.4370 Source: Chicago Mercantile Exchange Statistical Yearbook. 3-Month Forward Rate 1.3490 1.3744 1.3963 1.4067 1.3296 1.3828 1.3784 1.3817 1.3553 1.2960 1.3226 1.4089 1.4005 1.4039 1.4007 1.4171 1.4270 1.4194 1.4037 1.4200 1.4628 1.4704 1.4214 1.4249 1.4114 1.4260 1.4284 1.4198

1) What Legislation Is in Place to Help You Administer Medication Safely? Give an Account of How This Affects Your Work.

Unit 616 Medication Questions 1) What legislation is in place to help you administer medication safely? Give an account of how this affects your work. The Medicines Act 1968 Regulates the supply and manufacture of medicines and defines the three categories of medicine: Prescription only, pharmacy medicines and general sales list. This affects my work in that it tells me which types of medicine I can simply pick up over the counter (for example, if someone I supported had a minor problem such as a cold, by consulting this legislation I would know which drugs I would be able to pick up without a prescription).It also categorises the medication which I currently administer and gives me an idea of how different types of medications are classified. For example, many times in the setting I work in, medication orders will be repeat prescriptions. For this, correct information must be supplied: name of service user, name and strength of medication and amount ordered sufficient for the time p eriod. The Misuse of Drugs Act 1972 Categorises banned substances into bands A, B, and C. This tells me that administering certain drugs would result in me breaking the law. It outlines what is legal to administer and what isn’t.Also this act outlines the legal requirement to store controlled drugs in locked cabinets and keep a record (controlled drugs register) of stock numbers, expiry dates etc. At our workplace we administer several controlled drugs such as diazepam, so this legislation affects me in the way that is outlines my legal responsibilities for storing and safely administering these drugs. Health and Safety at Work Act 1974 This act informs me of mine and my employer’s duties at work and tells me what is required of my employer to ensure the working environment is safe. Care Standards Act 2000Establishes national minimum standards in order to meet the needs of the people we support. For example, some of the people we support like to administer their own me dication and all information regarding their medication must be available for them to access at any time. Control of Substances Hazardous to Health Regulations 2002 This act outlines the requirements of employers to protect their employees from the hazards of substances used in the workplace. Medication comes under this act and it outlines principles for recording, safekeeping, handling and disposal of medicines, all things we deal with on a regular basis.

Free Essays on Christopher Pikes “The Listener“

Plot Synopsis: â€Å"The Listeners† by Christopher Pike The story begins in present day LA during the last few days of FBI agent David Conner’s career. At age 39 Conner A 15-year veteran of the FBI is retiring for good after the murder of his girlfriend and the accidental death of the young girl David was sent to rescue on his last assignment. David believes that he indirectly caused both of their deaths and because of this he has lost his faith in Truth, Justice and the American way, unlike his good friend and boss Ned Calendar who at the age of 70 is also about to retire. Ned gives David one last assignment which he insists only he can handle, and after a short briefing and much deliberation, David is on a plane to Boise Idaho to investigate a Channeling group headed by Anthropologist Dr. Spear, a strange man with a mysterious past. Channeling is a new age term, which is basically going into hypnosis and allowing entities to speak through you. David is curious as to why the FBI would be concerned with such matters and Ned reluctantly informs him that the FBI had come across some memoirs that spear wrote in which he talks about an entity that the group channeled. This entity which calls itself the Big Mind described certain classified information within the government and when the FBI checked it out they found that the Big Mind’s information was correct. They are concerned about how much the Big Mind knows so they want to sent an agent undercover as a reporter to investigate the group on their retreat. When David arrives in Boise the first members he meet are identical twins, Vera and Lucy. Lucy had discovered her talent a year ago when she was working as a massage therapist during her senior year in Stanford. She often used Applied Kinesiology or locking of the muscles to learn things about her clients, eventually she realized she didn’t need to use AK to learn things about people, that the answers just popped... Free Essays on Christopher Pike's â€Å"The Listenerâ€Å" Free Essays on Christopher Pike's â€Å"The Listenerâ€Å" Plot Synopsis: â€Å"The Listeners† by Christopher Pike The story begins in present day LA during the last few days of FBI agent David Conner’s career. At age 39 Conner A 15-year veteran of the FBI is retiring for good after the murder of his girlfriend and the accidental death of the young girl David was sent to rescue on his last assignment. David believes that he indirectly caused both of their deaths and because of this he has lost his faith in Truth, Justice and the American way, unlike his good friend and boss Ned Calendar who at the age of 70 is also about to retire. Ned gives David one last assignment which he insists only he can handle, and after a short briefing and much deliberation, David is on a plane to Boise Idaho to investigate a Channeling group headed by Anthropologist Dr. Spear, a strange man with a mysterious past. Channeling is a new age term, which is basically going into hypnosis and allowing entities to speak through you. David is curious as to why the FBI would be concerned with such matters and Ned reluctantly informs him that the FBI had come across some memoirs that spear wrote in which he talks about an entity that the group channeled. This entity which calls itself the Big Mind described certain classified information within the government and when the FBI checked it out they found that the Big Mind’s information was correct. They are concerned about how much the Big Mind knows so they want to sent an agent undercover as a reporter to investigate the group on their retreat. When David arrives in Boise the first members he meet are identical twins, Vera and Lucy. Lucy had discovered her talent a year ago when she was working as a massage therapist during her senior year in Stanford. She often used Applied Kinesiology or locking of the muscles to learn things about her clients, eventually she realized she didn’t need to use AK to learn things about people, that the answers just popped...