Monday, January 20, 2020

How to Write a Synthesis Essay :: Synthesis Essays, Process Essays

A synthesis is the combination of the ideas from more than one source with your own ideas. Note that the term â€Å"idea† does not constitute an opinion. What does a successful synthesis include? ACCURACY: an accurate report of information from the sources using different phrases and sentences not found in the original text. ORGANIZATION: readers should be able to see immediately where the information from the sources overlap. INTERPRETATION: a synthesis makes sense of the sources and helps the reader understand them in greater depth. How to get started: Summarizing the main points/themes/traits of the sources you are comparing will help you organize your thoughts. You will need to decide which elements of the texts being compared are most relevant. You also need to think about your audience: what points will give your reader the best overall picture of the texts? What will be most interesting for the audience to read? Standard format: Introduction A one-sentence statement that sums up the focus of your synthesis (i.e. your thesis statement) An introduction of the titles and authors of your sources (following specific citation guidelines) Relevant background information about the authors, texts, OR the general topic from which the texts are drawn Body Each paragraph must: begin with a topic sentence include information from more than one source clearly indicate where the material comes from using lead-in phrases and in-text citations†¦BEWARE OF PLAGIARISM show similarities/differences between or among the different sources Last but NOT least: represent the texts fairly. Your job is to present what the source says, in fewer words and your own words. Using your own words does not mean that you are in any way changing what the source says.

Sunday, January 12, 2020

Portfolio Management and Its Influences on Project Management Essay

In a project based organization, project management is directly controlled by strategic portfolio managers and a portfolio management department. This type of organization focuses on project development, progress and successful completion in relation to the strategic goals determined by top management. Multiple project proposals are constantly evaluated in terms of value, alignment to corporate strategies, and availability of resources to complete a project. In order for a project to proceed, portfolio managers must decide if a project is worthwhile and if it contributes to the goals of corporate strategies, and make the more difficult decision of which projects are more valuable to the organization in terms of achieving strategic goals (H. Kerzner, 2009). A large part of this process involves balancing short term projects with long term projects, assessing risk factors, and resource allocation. If a project is approved, then a project manager is assigned to oversee the project. The project manager has little influence on the resources and financing assigned to the project; that is determined by the portfolio manager and sponsor. The project manager is given a finite level of resources for a project and is expected to complete the project utilizing the allotted resources in an efficient manner. The portfolio manager assigns a project and the resources for the project to a project manager, and it is the responsibility of the project manager to complete the project without incurring the need to use added resources or financing. The project manager also is responsible for ongoing status reports of the progress to the portfolio manager and along with details regarding the efficient use of resources. If a project changes in scope or value, the portfolio manager has the authority to update resource availability to the project manager to fulfill the new requirements. Reference Kerzner, H. (2009). Project Management: A systems approach to planning, scheduling, and controlling (10th edition). John Wiley and Sons, Hoboken NJ.

Saturday, January 4, 2020

Assesing the jobs of a STOCK BROKER - Free Essay Example

Sample details Pages: 10 Words: 2890 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Definition: Stock Broker means a stock-broker who has either made an application for registration or is registered as a stockÂÂ ­broker in accordance with the rules and regulations made under the Securities and Exchange Board of Indian Act, 1992 (15 of 1992). (Date of Introduction: 01.07.1994. Notification No.1/94-ST dt. 20.06.1994. ) (Section 65(69) of Finance Act, 1994 as amended) The service provided by the stock broker becomes liable to pay Service Tax subject to the conditions that the ÂÂ ­ Don’t waste time! Our writers will create an original "Assesing the jobs of a STOCK BROKER" essay for you Create order (a) Stock Broker should be registered as per SEBI Act, 1972. (b) Stock should be listed in the Stock Exchange. (b)The Stock Exchange must be recognized Stock Exchange as per Securities Contract (Regulation) Act, 1956. (c) The Sale/Purchase should be on behalf of an investor. (i) shares, scrips, stocks, bonds, debentures, debenture stock, or other marketable securities of a like nature in or of any incorporated company or body corporate; (ia) derivative; (ib) units or any other instrument issued by any collective investment scheme to the investors in such schemes; (ii) Government securities; iia) such other instruments as may be declared by the Central Government to be securities; and (iii) rights or interests in securities. Own trading: In case, a broker enters into a transaction on his own account, with an investor who is a non-member on the stock exchange, the service provided will be taxable service, and subject to Service Tax. ÂÂ   Arbitrage: In the case of arbitrage transaction i.e. the transaction between two brokers of different stock exchanges, the service is provided by a broker i.e. the member of a stock exchange even though the investor may be a member of another stock exchange, there being an investor involved in the transaction, the service so provided to the investor will be a taxable service and subject to Service Tax. (Ministrys F.No.148/1/94 CX-4 (Pt. I) dt. 31.12.1996) Sub-broker means a sub-broker who has either made an application for registration or is registered as a sub broker in accordance with the rules and regulations made under the Securities and Exchange Board of India Act, 1992. Source (Role of a Stock Broker Published on March 2, 2010 by Megha Batra in Investing Comments Any investor who wants to invest in stocks needs a stock broker. As you cannot make direct investments in stock market, it becomes essential to contact a stock broker, as he is the one who is directly related to stock exchange. The basic job of a stock broker is to facilitate your transactions and guide you in trading with shares and commodities. He is a professional expert who assists you to understand and plan according to the ups and downs in the risky stock market. A stock broker allows you to buy and sell stocks and commodities anywhere in the world. In case you are a beginner, it would be really tough for you to understand the world of stocks. In such situation, you require a stock broker. He will help you to make right decisions at the right time, thus managing your invested capital properly. Literally, the term stock broker refers to a person who makes your transactions in stocks and earns his commission on every transaction made by him in the stock market. He is approved and regulated by federal government of the country (depending on the market he works in). Published on March 2, 2010 by Megha Batra in Investing Comments (1)|1 Liked It What does a stock broker do in your stock investments? Any investor who wants to invest in stocks needs a stock broker. As you cannot make direct investments in stock market, it becomes essential to contact a stock broker, as he is the one who is directly related to stock exchange. The basic job of a stock broker is to facilitate your transactions and guide you in trading with shares and commodities. He is a professional expert who assists you to understand and plan according to the ups and downs in the risky stock market. A stock broker allows you to buy and sell stocks and commodities anywhere in the world. In case you are a beginner, it would be really tough for you to understand the world of stocks. In such situation, you require a stock broker. He will help you to make right decisions at the right time, thus managing your invested capital properly. Literally, the term stock broker refers to a person who makes your transactions in stocks and earns his commission on every transaction made by him in the stock market. He is approved and regulated by federal government of the country (depending on the market he works in). Read more in Investing ÂÂ « Michigan ForeclosuresHow to Trade Forex Using Pivot Point as a Trading System ÂÂ »Some of the main reasons for hiring a stockbroker are discussed hereunder: a) A stock broker helps as a guide who recommends you about a particular deal to invest in. Many times he analyzes the market trend and suggests your desired actions accordingly. As he has a lot of knowledge and experience, he is the best person for your capital investment and aims at providing maximum returns on your investment. For beginners, he acts as a nook of complete knowledge about the stock market and its trends. b) A stock broker is well aware about the upcoming risks and ways to avoid them. He also calculates the possibility to earn profit by investing in a particular stock or commodity. His aim is to minimize risk and maximize profit. c) A stock broker also performs the job of a manager who manages your portfolio so as to let you understand your financial status. His job covers initial investment, profits and losses and the record of stock trade. This is extremely essential as this is the only way to calculate your profits and losses. Thus, a stock broker tells you whether you are successful or not in the market, i.e., whether you stand in the market. d) A stock broker assists you in trading anywhere in the whole world. He knows the overseas market trends and can direct you to invest in stocks abroad so as to earn good profits in future. e) A stockbroker also makes investments on your behalf. All you need is to bank upon him ad leave the rest on him. This is automated investment in which a stock broker deals with your capital investments on your behalf so as to assure positive returns. f) With the help of online stock brokers, you can contact them easily and most quickly. With the online facility, you can have access to your broker 24/7/365. Read more: https://bizcovering.com/investing/role-of-a-stock-broker/#ixzz12PWK9BRC A stockbroker is a professional who buys and sells shares and other listed securities through the book at those responsible for equity investors. As the law passed in the United States has the general representation of securities examination or the Series 7 exam for working as a stockbroker. Brokers providing various services to their customers. Execution only this service, only the broker market in the direction of investors. This is the basic and most frequent use of mediators. Advisory In this service the broker not only buy and sell clients instructions recommend, but to buy the investor in the stock market and sell the shares. Discretionary use This is the most complete service, a broker provides. In this case, the brokers discretion for investment decisions of the investor must take. These are the basic services provided by stock brokers are available and completely dependent on what services you are writing to you. For example, if you have a simple analysis of the cattle market can and regularly on events and stock market shares in which you invest, you should observe the brokers have no buying and selling done by one instruction. It will save not only the costs of service, but also to give full confidence in the stock market. If youre relatively new equity investments, or if they have sufficient knowledge of equities analysis, or do not have the time or resources to do thorough research on the stock market, the board is more effective for you. It will bring not only your sales management but also with effective tips and guidance for the market equity investments. Although it is a bit more expensive, but can significantly gain from the technical knowledge and experience of brokers and its research and analysis team. The full-service broker is the preferred solution for those who do not have the time or knowledge of their portfolio. In this case, the broker makes all the decisions to invest in the stock market. This is the most expensive Broking Service, but then you do not need to waste time on your stock market investments. Exactly how different kinds Service Broker There are several categories of securities intermediaries as well. While choosing your broker, it is advisable to ensure the well-known companies such as trading stocks That You earn ITS solid infrastructure, analysis and experience to select the stock market. This also applies when choosing your business online trading, online trading is the implementation in your name. https://b-broker.blogspot.com/2010/08/what-is-role-of-stock-broker.html ÂÂ © Copy Right: Rai University 11.671.3 281 Role of an Indian Stock Broker ÂÂ · In India, stock exchanges were almost self regulatory till 1988, supervised by Ministry of Finance under the Securities Contracts Regulation Act (SCRA). However, the stock exchanges were not discharging their self-regulatory role as well as a result of which malpractices crept into trading, adversely affecting investors interests. SEBI has been setup to ensure that the stock exchanges discharge their self-regulatory role properly. Ever since SEBI began to monitor brokers, stock broking is emerging as a professional advisory service, in tune with the requirements of a mature, sophisticated, screen based, ring-less, automated stock exchanges in the country in sharp contrast to traditional, closed character as inherited family business. So we will discuss, the Indian Stock Broking system here. The stock broking activity consists of various intermediaries. Let us discuss them one by one. Stock Brokers Stockbroker is a member of a recognized stock exchange who buys, sells or deals in securities. To work as a stockbroker registration with SEBI is mandatory. SEBI is empowered to impose conditions while granting the certificate of registration. Registration : A broker seeking registration with SEBI, has to apply through the stock exchange of which he is member. For registering SEBI checks eligibility of the applicant to become the member of stock exchange, has the necessary infrastructure to effectively discharge his duties, past experience etc. Every registered stockbroker is required to pay annual fee @ Rs. 5,000 for turn over up to Rs. 1 crore and 0.01% of turnover exceeding Rs. 1 crore. For calculating turnover underwriting and collection of deposits are not taken into account for the purpose of calculating the turnover. The authenticity of the annual turnover is to be certified by the stock exchange concerned. Capital adequacy norms for brokers : An absolute minimum of Rs. 5 lakh as a deposit with the exchange is to be maintained by the members of the BSE CSE and Rs. 3.5 lakh for DSE and ASE irrespective of volume of business. In case of other SE the minimum requirement is Rs. 2 lakhs. The security deposit kept by the members in the SE forms part of the base minimum capital; 25% of the base minimum capital is to be maintained in case with the exchange. Another 25% remains in the form of a long term fixed deposit with a bank on which the SE is given free lien. The remaining requirement is being maintained in the form of securities with a 30% margin. The securities should be in the name of the member and are pledged in favor of SE. Additional capital related to Volume of Business : The additional or optional capital required from a member should, at any point of time, be such that together with the base minimum capital it is not less than 8% of the gross outstanding business in the exchange defined as the aggregate of up-to-date sales and purchases by a member broker in all the securities put together. Duty to the Investor : The duties of a broker to the investor are i. He should be faithful to the clients in his dealings with them and execute orders as per the instructions. ii. He should issue to his clients a contract note without any delay for all transactions in the form specified by the SE. iii. To avoid breach of trust, he should not disclose or discuss with any other person details of investment and transaction of clients. iv. He should not mislead clients merely to generate business. v. He should avoid dealing with a client who is a defaulter in his dealings with other brokers. vi. When dealing with a client, he is required to disclose whether he is acting as a principal or as an agent. vii. He should not give investment advice to any client unless sought by him. viii. A stockbroker should have adequately trained staff and arrangements to render fair, prompt and competent services to his clients. ix. He should extend full cooperation to other brokers in protecting the interest of his clients regarding their rights to dividends, bonus shares, rights issues and any other rights related to such securities. Sub Brokers A sub-broker acts on behalf of a stockbroker as an agent or otherwise for assisting investors in buying, selling or dealing in securities through such brokers but he is not a member of a stock exchange. To act as a sub-broker, registration with SEBI is required. It grants a certificate of registration to a sub-broker subject to the conditions that (a) he has to pay the prescribed fee, (b) he takes adequate steps for redressal of investor grievances within one month of the receipt of the complaint and keeps SEBI informed about the number, nature and other particulars of the complaints (c) he is authorized in writing by a broker for affiliation in buying, selling or dealing in securities. Registration of Sub-brokers : According to SEBI regulations currently in force, a sub-broker is required to submit along with the application (a) recommendation from a stockbroker with whom he will be affiliated and (b) two references, including one from his banker. The individual applicant should not be less than 21 years of age, has not been convicted in any offence involving fraud or dishonesty and has passed the equivalent of at least 12th standard from a recognized institution. The annual fee payable by a sub-broker is Rs. 1000 for an initial period of five years. After the expiry of five years, an annual fee of Rs. 500 is payable as long as the certificate remains in force. Duty to the investors : A sub-broker, in his dealings with the clients and the general investing public, should faithfully execute the orders for buying and selling of securities at the best available market price and promptly inform his clients about the execution of an order and make payment in respect of securities sold and arrange for prompt delivery of securities purchased. He should issue promptly to his clients (a) purchase or sale notes for all the transactions entered into by him with his clients, or through the principal broker (b) scrip-wise details. He should not furnish misleading information to his clients to generate business. He should not recommend his clients any scrip / security unless the client has asked for the advice. Foreign Brokers Foreign institutional investors (FIIs) now play a significant role in the stock markets. With a view to helping the FIIs to follow the procedures and encourage them to invest in India, SEBI has issued a different set of guidelines: Registration with SEBI : It is mandatory for a foreign broker to get registered with SEBI in order to do business in India. While applying for registration, a foreign broker has to disclose to SEBI name(s) and registration number(s) of the stock exchanges where he is registered in the capacity of a broker dealer together with an undertaking that he would operate and assist only on behalf of the registered FIIs and would not deal in securities on his own account as principal in India. On advice from SEBI, the RBI would accord approval to him to open (a) a foreign currency denominated bank account and a rupee account with a designated bank branch and (b) multiple custodian accounts with the approved custodian of all registered FIIs whom he may be assisting or on whose behalf he would be placing orders with a member of Indian stock exchanges. Transaction in Accounts : The foreign currency denominated accounts of registered foreign brokers would be credited with inward remittance brought in by him and inward remittance to make initial payment against the purchase contracts on behalf of registered FIIs. The rupee account will be credited with the commissions / brokerages earned by him in India. Initial payment on account of purchase contract on behalf of registered FIIs would be made through Rupee account. Reimbursement of this initial payment would be made by the designated bank/custodian of the registered FII. The brokers are allowed to freely repatriate commission/ brokerage earned in India after transferring them to the foreign currency denominated account subject to payment of taxes on the basis of conversion of rupees to foreign currency at the prevailing market rates. Source : MANAGEMENT OF FINANCIAL SERVICES LESSON 38: STOCK BROKING: AN INTRODUCTION AND SEBI GUIDELINES

Friday, December 27, 2019

A rose for emily story vs. film - 1576 Words

One Way Or Another William Faulkner’s short story, A Rose for Emily, is a dark tale of a young girl damaged by her father that ended up leaving her with abandonment issues. Placed in the south in the 1930’s, the traditional old south was beginning to go under transition. It went from being traditionally based on agriculture and slavery to gradually moving into industrial and abolition. Most families went smoothly into the transition and others, like the Griersons, did not. Keeping with southern tradition, the Griersons thought of themselves as much higher class then the rest of their community. Emily’s father found no male suitable for his daughter and kept her single into her thirties. After her fathers death Miss Emily was swept off of†¦show more content†¦When the town called in a construction company from up north to pave the sidewalks, they brought Homer Barron with them. He soon met Emily and they started spending some time with each other. The towns people were star tled because he was a Yankee construction worker but happy because she had possibly found someone. In Faulkner’s version, after seeing the two around town, gossip started to form about the two lovebirds. The narrator described it as, â€Å"Then some of the ladies began to say that it was a disgrace to the town and a bad example to the young people. The men did not want to interfere, but at last the ladies forced the Baptist minister--Miss Emilys people were Episcopal-- to call upon her. â€Å"(Faulkner IV). It was not socially acceptable to spend so much time with someone if they were not going to get married. It was against the social norm of the community. The pastors’ wife wrote Emily’s family in Alabama and once the cousins left Emily’s house, the rumor was that they were married. Then Homer left town, then returned to Emily only never to be seen again. In the movie adaptation, there was no pressure from the community to marry Homer. 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Wednesday, December 18, 2019

Understanding Corruption And Its Effects On Free Speech Essay

The measurement, as a result of the varying definitions and forms of corruption, is very difficult to do and becomes further complicated due to the illegal and concealed nature of such acts (Brunetti 2003). Initial surveys took more of a straightforward questioning approach, but given that the nature of some of the most corrupt countries may have severe restrictions on free speech, they may have discouraged respondents from providing accurate answers (Soares 2004). A more common approach to understanding corruption focuses more on the notion of perceived corruption. That is, instead of asking the survey respondents directly about their experiences with corruption, the surveyors ask the respondents about how much corruption they think exists within their country or specific field of work. The first such surveys were administered by Transparency International (TI) over a cross-national platform (Treisman 2007; Montinola 2002). 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Tuesday, December 10, 2019

The Seventies Essay Example For Students

The Seventies Essay How the 1970s Shaped American HistoryThe Nineteen Seventies was a pop culture decade. From Hippies to Disco and Saturday Night Fever to The Brady Bunch, the Seventies were full of cultural changes that shaped society for years to come. Although pop culture was important, many political outcomes also occurred. The Watergate scandal, the official end of the Vietnam conflict, and the United States Bicentennial all happened during this decade. Oil and nuclear problems arose, and Abortion was legalized for the first time. The Nineteen Seventies are often tarnished by remembrances of them, but in actuality many advances did occur in this ten-year span. When looking back at entertainment, fashion, and music history of the nineteen seventies these were probably the greatest and most influential events of this decade. Many movie stars such as Jane Fonda, Robert Redford, and John Travolta arose in this decade. Movies like Jaws, Saturday Night Fever, Rocky and Star Wars were on the movie screen s and were a new type of uninhibited film that had never before been socially allowed before the seventies. Musically, with the exception of Disco of course, the seventies will be highly revered. Lynrd Skynrd, Bob Marley, Simon and Garfunkel, Led Zeppelin, The Eagles and countless other groups arose on the rock scene. We must however also acknowledge Disco and groups such as the Bee Gees and KC and the Sunshine Band. Clothing was completely free and bell bottoms, bikinis and love beads were commonplace. There were no longer strict dress codes and the new free spirit of the seventies definitely demonstrated that. T.V.s went to color, V.C.R.s were invented, DNA was just beginning to be unfolded, technology was beginning to blossom. Atari was invented, computers enhanced, and home appliances were rejuvenated. The early seventies entailed such things as the Kent State University Massacre in 1970, which resulted in the deaths of four innocent students by National Guardsmen, and The Roe v . Wade Supreme Court decision in 1973 that helped to spawn the womens movement that engrossed the entire decade. The first Earth Day was celebrated on April 22, 1970 and launched a new environmental movement, and anti war protest were all around until the official U.S. pullout from the Vietnam conflict in 1973. Charles Manson planned the murders of dozens of people, and it was apparent that society was drastically changing. The Richard Nixon Watergate scandal involving Democratic headquarter information that implicated the president in illegal cover-ups and activities with funds was probably the one thing that most people remember most about the 1970s. Those interviewed, and researchers have both said that it was the most significant event of the decade. It caused an intense distrust of the Federal Government, and the Democratic party, which has stemmed into politics today. This event, which led to the impeachment proceedings and ultimate resignation of president Richard Nixon on Au gust 9, 1974made a lasting impression on politics, government, public opinion, and the way democracy is cared for. Nuclear testing, resulting in health and environmental problems was also a hot topic in this time period. The Nuclear waste spill and radioactive leak at The Three Mile Island Nuclear plant in Harrisburg, Pennsylvania in 1979. The new environmental feeling that was being brought about in this decade helped to bring about the idea of safe nuclear projects and disposal of nuclear waste. Foreign relations, on the whole were not good with Iran, or Russia. We had a hostage crisis with Iran, a Grain embargo with Russia, and an oil embargo leading to a gas crisis in the United States. The feminist movement was at its pinnacle in the 1970s. Because of activists such as Gloria Steinem and Bella Apzug, women were getting more recognition. Women sports stars such as Billy Jean King were also becoming famous. Workplace discrimination was addressed, rallies held, and bra burning com menced. This free time enabled women to fight for what they believed in without worrying about what it would look like to others. The Roe v. Wade decision by the Supreme Court gave women more freedom of choice, as well as the readily available birth control pill. Along with this womens revolution there was a sexual revolution in the 1970s. Contraception .u8a2035904e1341b9cad30fe9e60ecbc4 , .u8a2035904e1341b9cad30fe9e60ecbc4 .postImageUrl , .u8a2035904e1341b9cad30fe9e60ecbc4 .centered-text-area { min-height: 80px; position: relative; } .u8a2035904e1341b9cad30fe9e60ecbc4 , .u8a2035904e1341b9cad30fe9e60ecbc4:hover , .u8a2035904e1341b9cad30fe9e60ecbc4:visited , .u8a2035904e1341b9cad30fe9e60ecbc4:active { border:0!important; } .u8a2035904e1341b9cad30fe9e60ecbc4 .clearfix:after { content: ""; display: table; clear: both; } .u8a2035904e1341b9cad30fe9e60ecbc4 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u8a2035904e1341b9cad30fe9e60ecbc4:active , .u8a2035904e1341b9cad30fe9e60ecbc4:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u8a2035904e1341b9cad30fe9e60ecbc4 .centered-text-area { width: 100%; position: relative ; } .u8a2035904e1341b9cad30fe9e60ecbc4 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u8a2035904e1341b9cad30fe9e60ecbc4 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u8a2035904e1341b9cad30fe9e60ecbc4 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u8a2035904e1341b9cad30fe9e60ecbc4:hover .ctaButton { background-color: #34495E!important; } .u8a2035904e1341b9cad30fe9e60ecbc4 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u8a2035904e1341b9cad30fe9e60ecbc4 .u8a2035904e1341b9cad30fe9e60ecbc4-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u8a2035904e1341b9cad30fe9e60ecbc4:after { content: ""; display: block; clear: both; } READ: Ant Observation Essay

Tuesday, December 3, 2019

Mini-Assignment #1 †Case Mccain Foods Limited Essay Example

Mini-Assignment #1 – Case: Mccain Foods Limited Essay 1. If you were in charge of the Asian operations for McCain, how would you recommend the company overcome the challenges in the Chinese market? Being a foreigner in any market is a challenge, if I were in charge of the Asian operations for McCain I would first gain an understanding of what appeals to the Chinese market. This way I will be able to produce a product that will not only satisfy the Chinese consumers but also not offend them. For example, in regards to packaging, the Chinese market are very attracted to the colour red as it conveys good luck and good fortune while our company should avoid the colour white as it represents death and mourning. It is simple details like these that the Chinese market would become more comfortable and willing to accept western food. Additionally, prices of the McCain products may be seen as overpriced compared to local Chinese products. A different approach being in charge of the Asian operations would be to adjust the prices of our products, perhaps set them at a price lower than the standard in order to appeal to the Chinese consumers who are not familiar with McCain. Lowering the price will allow consumers to give McCain foods an opportunity to show western foods can be accepted. Once McCain foods have become more familiarized with the Chinese community our company would be able to raise prices as we have already established an appealing brand with consumers. We will write a custom essay sample on Mini-Assignment #1 – Case: Mccain Foods Limited specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Mini-Assignment #1 – Case: Mccain Foods Limited specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Mini-Assignment #1 – Case: Mccain Foods Limited specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Another effective decision to overcome the challenges in the Chinese market would be to improve advertising of McCain products. Advertising campaigns including celebrities endorsing products have proved numerous times they improve sales and overall awareness of the brand. The reason for this is because especially in the Chinese market, when consumers see celebrities they look up to become associated with a product, it gravitates their interest towards that certain brand or product. 2. Drawing from Hofstede’s work on global cultures, what challenges might Canadian managers at McCain face when interacting with their Chinese business colleagues? Hofstede’s work on global cultures includes power distance, individualism-collectivism, uncertainty avoidance, and masculinity-femininity. The challenges in regards to power distance include that Canadians may treat subordinates more fairly and equally unlike Chinese managers who believe in formal authority and knowing your place of rank within the company/business. The challenges with power distance Canadian managers may face will initially be establishing a relationship with Chinese business colleagues. They may find that the Chinese are less willing to exchange information and communicate with one another as Canadians follow a more democratic view versus the Chinese following an autocratic view. Secondly Canadians may face challenges with individualism-collectivism as their scores differ vastly. The mindset of the two cultures clash as Canadians have an un-biased take when it comes to hiring and promotions; solely looking at performance and the potential of that person while the Chinese take on a more biased view giving higher priority towards people managers have a connection with such as family members. The main challenges would be compromising on how to promote and hire employees with such different views. Essentially Chinese business colleagues have an approach of comparing results with other companies whereas Canadians look at a broader picture, viewing productivity/efficiency success. The challenge both cultures will have to face is compromising management styles to please employees as well as contribute towards the company’s success. Bibliography: China – Geert Hofstede. 2 Feb. 2013 http://geert-hofstede. com/china. html Canada – Geert Hofstede. 2 Feb. 2013 http://geert-hofstede. com/canada. html