Banking Industry Analysis: Zimbabwe And India

Banking Industry Analysis: Zimbabwe And India Banking industry is the major player in every countrys economy, and it influences the growth and prosperity of a nation. The following environmental analysis seeks to look at the banking Industry in Zimbabwe and India especially with regard to the PESTLE (Political, Economic, Social, Technological, Legal, Environmental) factors and how they have a bearing on the industry. It will further look at Porters five forces namely: New entrants, Threat of Substitutes, Power of Suppliers, Power of buyers and Competitive rivalry. In doing so, a brief history is important as it gives a mile view of the origins and development of the industry. . Based on these factors a comparative analysis is done between the two countries 1: Zimbabwe Banking Industry Analysis. Background When Zimbabwe attained its independence in 1980, the majority of banks were foreign owned. It was not until 1981 when the government acquired stakes in two banks namely Nedbank and Bank of Credit and Commerce of 62% and 49% respectively. Apart from stakes in these two individual banks, the government wholly owned and directed the operations of the central bank, the Reserve Bank of Zimbabwe (RBZ). The Reserve Bank is the policing authority for the industry formulating policy direction through periodic monetary policy statements. Indigenous ownership and new entrants into the industry was not until mid to late 90s when a number of banks were registered (Makoni, 2010). Until mid to late 90s, Zimbabwe was regarded as a model developing African country with a small but strong banking industry. Agriculture was the backbone of economic growth with mining, manufacturing and tourism complementing it. The industry therefore benefited from a strong economy until things changed in the late 90s as a result of negative economic and political policies adopted by the government. Political Factors Since independence from Britain in 1980, Zimbabwe has been under the leadership of President Robert Mugabe through his political party ZANU PF. The country was virtually under a one party state system with no credible opposition until 1999 when a new political party entered the political field. The political environment was however stable with the international community having confidence in the way the country was governed. As a result Zimbabwe was experiencing strong economic growth due to the international support and such growth was reflected positively upon the banking sector, as it was working effectively. International lines of credit from international financiers such as the World Bank and IMF were made available benefiting the banking industry immensely. There was however a sudden change of fortune in the industry when Zimbabwe embarked upon a controversial land reform program around year 2000. The process was chaotic and often violent with the international community condem ning it. That resulted in Zimbabwes isolation from the international community. Some countries such as the U.S.A and the E.U introduced sanctions against President Mugabes government as a way of protesting against his policies (U.S Department of Treasury, 2010). Zimbabwes banking industry reeled under sanctions. Some banks especially foreign owned such as Barclays Bank had to downscale their operations as the conditions were no longer conducive to support a complete banking portfolio (The Independent, 2010). The country is still under sanctions, arguably targeted to President Mugabes inner circle members. Because of that, banks do not have access to foreign sources of capital and cannot enter into strategic alliances with most western banks who fear the political situation in Zimbabwe. A new government of national unity was recently formed to dilute President Mugabe era. The change has not had a significant positive impact on the industry as it is still new with vague views about ec onomic development. Moreover the government recently launched a short term recovery program in 2009, in order to stabilize the economy with a focus on multi currency due to the inflated exchange rate of the US dollar against the local currency. That left the industry without a long term view of economic direction (The World Bank, 2010). Economic Factors Zimbabwes economy is characterised by negative economic growth, high unemployment, high interest rates and absence of foreign investment. The economic situation started to deteriorate in the early 90s when Zimbabwe embarked on an Economic Structural Adjustment Program, ESAP supported by IMF and the World Bank. Although the intended benefits were to grow the economy and create jobs, the opposite actually happened (The World Bank, 2010). The economy started to shrink. It was further exacerbated by the sanctions imposed after a chaotic land reform program earlier mentioned together with mismanagement by the government. Banks were not and still do not have access to cheap sources of capital as a result. The population is poor and characterised by high unemployment levels. According to an AFP report (2009), such negative economic factors have been haunting the banking industry particularly in the last 10 years. Poor people are likely not to save, a situation that is negative for the banking industry. On the other hand, the rise in inflation coupled with the devaluation of the Zimbabwe dollar meant banks could not cope with depositors need for daily cash withdrawals. Around 2003 and 2004, some banks collapsed while others were put under curatorship (Africa Monitor: Southern Africa, 2008). Those which survived had to limit their exposure to risks (Marawanyika, 2010). Although the situation has improved as a result of a power sharing government, banks still do not enjoy the benefits of a wide product portfolio as some products are still non-implementable. Good examples are lack of long term mortgages and credit cards. Banks remain uncertain as to the economic future and therefore are concentrating on products which are short term. Another factor which badly affected the banking system was the Reserve Bank of Zimbabwe forcing private banks to acquire quantity of its related papers, and also to lend it free the compulsory statutory reserve of 40%, which is considered the highest in the world. Moreover, the Reserve Bank of Zimbabwe also forced financial institutions to use the excess surplus cash to invest in securities. Such influence significantly affected the performance of the banking sector (Africa Monitor: Southern Africa, 2008) Social Factors Zimbabwe has a population of around 13 million. There has been a steady outflow of people to other countries as a result of economic difficulties. Estimates put the number of Zimbabweans living outside the country to 4.5 million (Sunday Mail, 2010). That is a very significant percentage of the population. The end result is a population that is too small to sustain a vibrant banking industry. People who migrated to other countries are the middle age group, the very core of middle class society. In addition, emigration has starved the industry of essential expertise needed to run the banking industry efficiently as the educated and qualified left for greener pastures. Before the recession, Zimbabwes banking industry was already under stress and some of it is attributed to lack of proper management and lack of innovativeness. To compound the emigration problem, the country has been beset by HIV/AIDS epidemic which seem to affect the productive ages. It is estimated that 14.3 % of the po pulation was infected with the virus as of 2007, (UN report, 2009). Although the problem is not uniquely a banking industry problem, it has affected the way the industry operates by taking away both potential customers and the expertise needed to run the industry. Technological Factors Although Zimbabwe is a third world country, it is generally doing well in terms of technology. The country has seen an early introduction of ATMs in almost all cities and tourist destinations. ATM technology was first adopted around 1990 when two of the industry players Standard Chartered Bank and CABS introduced ATMs. Since then, telephone banking and online banking have been introduced as well. The industry is also linked to international big brands such as Visa and Mastercard. Travellers to Zimbabwe will have access to their cash on all ATMs so long they have Visa cards (Barclays Bank Zimbabwe, 2010). ATMs have greatly enhanced the capacity of the industry to reach a wider population and cover geographic areas which would have been costly Although most banks have adopted internet banking, the usage numbers are still very low (Thulani et al. 2009) Legal Factors Although the Zimbabwean government had little interference in the banking industry prior to 2003, the situation has since changed significantly. Government enacted various legislations meant to police the operations of the industry. This was necessitated by the collapse of some banks resulting in loss of depositors funds. As a way of protecting the public from such incidences, the government raised the minimum capital requirements needed to open and operate banks, both commercial and discount houses. The minimum is currently set at $12.5 million. This new capital requirement has not been easy due to the industrys inability to access cheap sources of capital. Further affecting the industrys ability to raise more capital and funds is the new government legislation requiring all companies to have a minimum local majority shareholding of 51%. Foreign investors with an interest in the industry can only take up the remaining 49%. (Zimbabwe Mail, 2010) This has not gone down well with foreign investors who feel the legislation strips them of their ability to manage and have an influence on their investments. As a way of trying to fight the AIDS epidemic, the government introduced a levy on banking profits towards an AIDS fund administered by the National Social Security Authority, NSSA. The rate is 3% across all income levels with banks however levied at a much higher rate of 5 % compared to other industries and individuals. This has the effect of reducing the amount available to shareholders. Environmental Factors. Zimbabwe does not have legislation compelling companies and businesses to direct their resources towards the environment and corporate social responsibility activities outside of the Aids levy earlier mentioned. It is truly lagging behind in this area. The banking industry, like any other industry has instead concentrated on its own survival with little regard to environmental issues. Industry Analysis by Porters forces. Porter explains and argues that there are five forces which determine the industrys profitability and attractiveness. These are threat of new entrants, threat of substitutes, bargaining power of buyers, bargaining power of suppliers and the degree of rivalry between existing competitors. Some of the forces mentioned above have limited applicability to banking because of the nature of the industry. An example is the substitute factor. The banking industry in general has limited room for substitutes. Looking at the banking history in Zimbabwe, there was a time soon after independence when suppliers had the power in the market because competition was very low. There were few players in the industry and customers were even lucky to be accepted to open a bank account. As the government liberalised the industry, more indigenous players came in making competition very stiff. Currently, there is little differentiation which banks can apply to have an urge over others. Rivalry is very high and the areas of differentiation come from good customer service and degree of risk expected. The collapse of some banks around 2003 and 2004 has left the market and customers jittery about which banks to be entrusted with their deposits. Banks with adequate capital such as Standard Bank and Barclays Bank have a competitive advantage over others due to their history of stability. They can use their foreign component of their shareholding structure to mobilise resources. 2.0 India Banking Industry Analysis 2.1 Introduction: The Banking Sector in India is regulated by the Reserve Bank of India (RBI) and the Ministry of Finance (MoF). The banking sector comprises of Nationalised, Private and Public Sector, Cooperative and Foreign banks. A brief history tells us that the nationalisation of 14 largest commercial banks in 1969, and further nationalisation of 6 major private banks in 1980 has completely reformed the banking sector in India (Das and Ghosh, 2006). According to 2010 survey more than 80% of banks in India are nationalised, 15% are private and cooperative sector banks and the remaining 5% are foreign banks, serving a population of more than 1.1 billion. Political factors: The ruling government and the Ministry of Finance play a decisive role in contributing to the rules and regulations of the industry. A huge turning point came in 1991, when the Finance minister Dr. Manmohan Singh under the Narsimha Committee opened the doors for the Foreign Direct Investments (FDI) in the country thus boosting the economy and uplifting the banking industry (Das and Ghosh, 2006). This served as a platform for the future decision making of the rules and regulations and law enforcement for RBI and other financial regulatory bodies. The relaxation of some regulations allowed the major foreign banking corporations to enter the developing Indian economy through mergers or independent setup. Economic factors Nationalisation of the banking sector helped farmers and small industries in India to directly access credit facilities, efficient short and long term loan sanctions and has helped reduce the unemployment rate and further increase the profitability of the money lenders. Interest rates for certain loans are lower than the market rates. For example food and agriculture related business and services. This has led to many nationalised banks giving more importance to social priorities than profit maximisation. Reduction in Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR) has helped the banking sector to increase efficiency. Liberalisation has encouraged competition in the interest rate and services provided by many banks and financial regulatory bodies (J. Sengupta; C. Neogi) Social factors In spite of the recent downturn in the global economy India was able to attain a growth rate of 8.8 % in the first quarter 2010 (RBI Bulletin, 2010). That means the industry and the agriculture sectors that form the majority of the working population are supplying huge amount of their disposable incomes to banking and investment corporations to further increase their profits. This change is much obvious in the Cooperative banks and domestic banks regulated by RBI where deposits, repayment of loans, sanction of new loans improved significantly, enhancing industry profitability. Since 1991, due to the outburst of multiple opportunities in national and international industrial and service sectors, the urban and the semi-urban cities have witnessed an increase in educated, high earning individuals who are well associated with their income and investments. Since 2001 the changes in banking norms, stable and long term understanding between the commercial and cooperative banks have helped t he banking sector achieve 51% of compounded annual rate based on growth, asset quality and profitability (McKinsey and Company, 2010). Technological factors Technology is always seen as a building block for any industry or economy. With the arrival of the foreign banks and financial corporations, the public, private and cooperative sectors have witnessed a revolutionary support and competition in its technology. As a result of this many banks such as Housing and Finance Corporation (HDFC), ICICI, State Bank of India, Central bank, Union Bank, JK bank, and all major cooperative banks have revolutionized their various banking products and services. Services like internet and telephone banking, online investment and loan proposals, personalized and premium banking services are available 24 hours a day. Large numbers of ATM outlets have all helped increase the profitability and efficiency of their service providers. As a result the year 2001-02 saw 20.83% private sector banks achieving efficiency of more than 100%, and year 2003-04 saw 26.92% private sector banks having productivity of more than 100% (Bodla and Verma Bajaj, 2010). The growth in industrial and outsourcing sectors have boosted foreign exchanges and remittances. This has produced a fluent and rich source of income for the banking industry. Legal factors Banking Regulations Act in 1949 and the Reserve Bank of India Act in 1934 are the major regulations in Indian banking industry. All Indian banks trade and work in accordance to the guidelines of RBI. Due to liberalisation and influence of World Trade Organisation, Indian banking industry adapted to the global banking standards. Indian banks and finance corporations follow the regulations of the Basel Committee, International Monitory Fund (IMF) and International Bank for Reconstruction and Development (IBRD). (2008) 2.7 Environmental factors The finance and banking sector is one of the most advanced and rapidly growing sectors in Indian economy. The concentration in banking industry is due to certain core principles, standardization, regulating and supervising of the sector. This has created a frantic race to stay at the top. To overcome their competitors almost all banks and finance corporations have adopted social responsibility measures or environmental concerns (Zuberbà ¼hler, 2000). Banks like SBI, HDFC, ICICI etc have undertaken various public and corporate issues seriously and have allocated a sizeable amount of their income on public and environment issues. Recently, the Ministry of Finance and Corporate Affairs in India have set out core elements of CSR for companies and corporations to address. The president speaking at India Corporate Week has urged finance and industrial corporations to assist the government in various programmes designed for rural economic development (SRI, 2010). Analysis by Porters Five Forces 2.8 Bargaining power of buyers: Bargaining power of buyers is high in Indian banking system because of many reasons. There are lots of alternatives for each customer. Due to the technological advances, buyers know about the market status and position of each bank. Switching cost to shift the bank is very low, so the customer changes the bank frequently. Almost all banks give the same service and products, so they cannot charge for extra service and differentiation. Banks try to be customer friendly to attract as many clients as possible. 2.9 Bargaining power of suppliers: Bargaining power of suppliers is less in India due to the strict rules and regulation of Reserve Bank of India (RBI). Interest rate and degree of differentiation are determined by the RBI, so supplier power is very low. But at the time of tight liquidity the negotiation capacity of suppliers increase. 2.10 New entrants: New entrants with added services and benefits always pose a threat to the well established older and somewhat government owned banks. In India since majority of the banks are nationalized or state owned as seen above, a new foreign bank, always has to come up with some better ideas to attract a specific group of population which is ready to deviate or change its banking environment. In addition, few of them have tried to blend with the Indian market either by partnering or merging with some Indian nationalized banks, or by exchanging services like use of ATM networks. As a result, foreign and new private banks have realised growth rates of up to 50% while the public sector banks have grown at steady 15% (India Banking, 2010). After the post liberalisation period the banking sector has increased average deposit efficiency especially for State Bank of India and Associates. As for nationalised banks its almost stable and for foreign banks it has declined sharply. The reason for the fall in the foreign banks is due to their attention to cater to only some of the multinational corporations which lured them for starting their services in India (Services Research, 2009). 2.11 Threat of substitutes: Substitutes do not pose a greater threat to the banks. However the fact that they still have influence in some of the major rural areas in the form of non-governmental and unregulated co-operative societies always leaves banks watching their backs. (Das and Ghosh, 2006). 2.12 Competitive rivalry: The concentration of nationalised banks and their efforts to be the policy maker have given rise to three major concerns: Competition, Systemic Stability and difficulty in regulating them (Zuberbà ¼hler, 2000). It is believed that competition always fuels growth. The commitment shown by banks in terms of employee training programs and technological upgrades have resulted in improved skills and services (Arora and Khanna, 2009). For effective regulation many banks have applied customer centric approach rather than profit oriented approach. This has significantly improved the internal service quality of the banking sector. 3.0 Comparison and conclusion: Banking industry in India is more diverse as it includes many nationalised public sector banks, foreign banks, private sector banks, co-operative banks and many approved small and medium money lending institutions well serving a population of 1.1 billion. In Zimbabwe the banking industry comprises of government banks, private banks and a few foreign banks serving a comparatively small population of 13 million. The banking industry market is therefore huge in India when considering the population and all related demographics. Considering the fact that agriculture is the backbone in both countries, most of the government policies and initiatives are in favour of agriculture and its related sectors. A best example is Indian governments approval of $12.5 billion Farmers debt relief fund in 2008, which allows banks and other approved money lending institutions to waive a farmers loan after signing an agreement of debt relief. (banknetindia. nd). Indian government is politically more stable than the Zimbabwean government. This has created certainty in the Indian industry compared to its Zimbabwean counterpart. In India all the financial regulatory bodies have formed a supportive environment for the banking and economic industry, and have setup stringent rules and regulations in accordance with the international banking guidelines. Foreign exchange and remittance is an important factor which acts as a bridge between a countrys banking sector and its ability to attract investments from other countries, which provides rich nourishment for the banks. Foreign remittances from industrial activities are practically not present in Zimbabwe whereas in India outsourcing and flourishing economy is maintaining a steady supply of foreign exchange. Though banks in Zimbabwe are earning huge individual foreign remittances from the migrant population, the entire banking sector cannot completely sustain itself on that. Global economic instability and recent financial downturns were more felt in Zimbabwe, as compared to India which is relatively more insulated to the effects. Since 2007 Zimbabwe was facing huge hyper-inflationary problems until recently when the country achieved some measure of stability through dollarization of its economy. The inflation at some point reached monstrous levels affecting the Zimbabwean dollar exchange rate and banks found it extremely difficult to maintain a supply of the dollar. That led to government introducing foreign multi-currency since 2009, especially the US dollar, (Hanke, 2010). Inflation in India has been steady compared to its growth rate and is handled carefully by the Reserve Bank and the finance ministry. This has helped maintain currency supply and is conducive for the banking environment. Technology is one of the major drivers for banking industry not just in India and Zimbabwe but across globe. Technology has helped many foreign banks gain an advantage over government banks in India and also in Zimbabwe. Some of the banking areas revolutionised by technology are ATMs, online banking, phone banking, customer service, foreign exchange etc. Indian banks are highly competitive and have strengthened themselves due to information and technology. They are providing many services and provide value addition which has enabled them to successfully compete with many global, well established and technically sound banking corporations. Zimbabwean banks are comparatively at a preliminary stage and are incorporating value addition and services at a slower rate. Unemployment is a negative driver for banking environment in Zimbabwe. Population migration and AIDS are further deal breakers. Corruption in the government and finance sector is further affecting the banking industry in both countries. Social responsibility is not well adopted in Zimbabwean, whereas almost all major nationalised, private and foreign banks are making huge efforts to be socially responsible in India.

Ednas Escape The Awakening Essay -- essays papers

Edna's Escape The Awakening Edna’s Escape The ending of Kate Chopin’s The Awakening is both controversial and thought provoking. Many see Edna Pontellier’s suicide as the final stage of her â€Å"awakening†, and the only way that she will ever be able to truly be free. Edna’s suicide, however, is nothing more than her final attempt to escape from her life. Edna Pontellier’s life has become too much for her to handle, and by committing suicide she is simply escaping the oppression she feels from her marriage, the suppression she feels from her children, and the failure of her relationship with Robert. Edna Pontellier’s marriage is a failure in her own eyes. Although when thinking of other husbands she at one time admits that, â€Å"she knew of none better† than her own, she is in no way happy with her married life. When describing the feelings Edna had regarding her marriage Chopin describes the marriage as, â€Å"An indescribable oppression, which seemed to generate in some unfamiliar part of her consciousness, filled her whole being with a vague anguish. It was like a shadow, like a mist passing across her soul’s summer day†. Throughout the course of this novel Edna is coming to the realization that she is extremely unhappy with her married life, and she wishes to be free from the oppression that she feels with the relationship with her husband. Unfortunately for Edna divorce at this time is unheard of, and would be regarded as a disgrace to Edna as well as her family. Edna’s unhappiness with her marriage leaves her with few choices; she can remain in her marriage and be miserable, or she can leave her husband and face the consequences. Edna, however, does not have the heart for either of these choices, and escapes the pain of he... ...l not result from a new house, or her painting, or even her love for Robert, but instead will be much more difficult for her to obtain. It is this realization, as well as the oppression she feels from her marriage and the suppression she feels from her children that lead Edna to commit suicide, for she realizes that is the only way she will truly be able to escape her troublesome life. Edna Ponteillier’s suicide at the end of The Awakening is a result of her failed attempt at a new life. Edna’s suicide was her last resort, and was simply a way to escape from the troubles that resulted from the unhappiness she felt with her life. Edna’s suicide was not representative of the final stage of her â€Å"awakening†, but was merely an escape from the oppression she felt from her husband, the suppression she felt from her children, and from her failed relationship with Robert. Edna's Escape The Awakening Essay -- essays papers Edna's Escape The Awakening Edna’s Escape The ending of Kate Chopin’s The Awakening is both controversial and thought provoking. Many see Edna Pontellier’s suicide as the final stage of her â€Å"awakening†, and the only way that she will ever be able to truly be free. Edna’s suicide, however, is nothing more than her final attempt to escape from her life. Edna Pontellier’s life has become too much for her to handle, and by committing suicide she is simply escaping the oppression she feels from her marriage, the suppression she feels from her children, and the failure of her relationship with Robert. Edna Pontellier’s marriage is a failure in her own eyes. Although when thinking of other husbands she at one time admits that, â€Å"she knew of none better† than her own, she is in no way happy with her married life. When describing the feelings Edna had regarding her marriage Chopin describes the marriage as, â€Å"An indescribable oppression, which seemed to generate in some unfamiliar part of her consciousness, filled her whole being with a vague anguish. It was like a shadow, like a mist passing across her soul’s summer day†. Throughout the course of this novel Edna is coming to the realization that she is extremely unhappy with her married life, and she wishes to be free from the oppression that she feels with the relationship with her husband. Unfortunately for Edna divorce at this time is unheard of, and would be regarded as a disgrace to Edna as well as her family. Edna’s unhappiness with her marriage leaves her with few choices; she can remain in her marriage and be miserable, or she can leave her husband and face the consequences. Edna, however, does not have the heart for either of these choices, and escapes the pain of he... ...l not result from a new house, or her painting, or even her love for Robert, but instead will be much more difficult for her to obtain. It is this realization, as well as the oppression she feels from her marriage and the suppression she feels from her children that lead Edna to commit suicide, for she realizes that is the only way she will truly be able to escape her troublesome life. Edna Ponteillier’s suicide at the end of The Awakening is a result of her failed attempt at a new life. Edna’s suicide was her last resort, and was simply a way to escape from the troubles that resulted from the unhappiness she felt with her life. Edna’s suicide was not representative of the final stage of her â€Å"awakening†, but was merely an escape from the oppression she felt from her husband, the suppression she felt from her children, and from her failed relationship with Robert.

MacDonalds The Princess and the Goblin Essays -- MacDonald Princess G

MacDonald's The Princess and the Goblin The Princess and the Goblin is a story about self-realisation and the expansion of limits. The princess, Irene, is able to come to certain conclusions about herself with the help of her grandmother, who lives in the attic upstairs in the palace. The grandmother guides Irene through her rite of passage into adulthood, and helps to bring the princess and Curdie together in the end. However, the reader never really knows whether the grandmother even exists, and it is this uncertainty that causes the reader to question whether she is a personification of a force within Irene that is driving her to achieve all that she does. There are many elements of fairy tales that exist within the grandmother's world and Irene's relationship with her grandmother and her nurse, Lootie. Archetypes such as the attic, birds, the moon, and fire exist within her grandmother's world and archetypes such as the underground exist within the world she guides Irene through. The grandmother embodies characteristic s of the good witch with supernatural powers, who guides Irene on her journey, while Lootie embodies characteristics of a wicked witch, who hinders her right of passage into adulthood. Irene's first encounter with her grandmother is one of ambivalence, which parallels the stage of puberty she is in. This is the stage of her journey when she is not sure how far from the safety of her mother figure, the nurse, she should wander. Irene does not stay very long with her grandmother, as she is not fully ready to leave childhood. There are elements of Charles Perrault's Little Red Riding Hood and The Sleeping Beauty in the Wood in Irene's first visit with her grandmother. Her discovery of the grandmother is very... ...hat exist in this story follow the fairy tale tradition. The princess is transformed into a young woman with the aid of a helper. This helper is her grandmother, who gives her the tools to cut the invisible thread, and be led by her own powers. The princess discovers another world beyond her nursery and the walls of the palace that becomes more and more real every time she lets go of someone's hand. Bibliography MacDonald, George. The Princess and the Goblin. London: Penguin Books Ltd., 1996 Perrault, Charles. "Little Red Riding Hood." in Folk & Fairy Tales. Eds. Martin Hallett and Barbara Karasek. 2nd edition. Peterborough, Ontario: Broadview Press Ltd., 1996. 25-27. Perrault, Charles. "The Sleeping Beauty in the Wood." in Folk & Fairy Tales. Eds. Martin Hallett and Barbara Karasek. 2nd edition. Peterborough, Ontario: Broadview Press Ltd., 1996. 40-48.

William the Conqueror :: essays research papers

He was the son of Robert, Duke of Normandy, his mother, Herleva, the daughter of a tanner of Falaise. In 1035 William’s father Robert, Duke of Normandy, went on a pilgrimage to the Holy Land, in which he died. Before starting the pilgrimage, he presented to the nobles his seven year old child demanding their allegiance. "He is little", the father said, "but he will grow, and, if God please, he will mend." William, after a period of anarchy, became the ruler of Normandy in his father's place at the age of nine. William had a youth of clean life and of much natural piety, while the years of storm and stress through which he passed gave him an endurance of character which lasted to his life's end. During the time of anarchy in Normandy he became a skilled military leader and defeated his enemies, uniting his duchy. Once he began fighting, rumor has it that he never lost a battle. In 1047 a serious rebellion of nobles occurred, and William with the aid of King Henry of France, gained a great victory at Val-à ¨s-Dunes, near Caen. Which led to the capture of the two strong castles of Alenà §on and Domfront. Using this as his base of operations, the young duke, in 1054 made himself master of the province of Maine and became the most powerful vassal of the French Crown, able on occasion to bid defiance to the king himself. William even married Matilda, the daughter of the Earl of Flanders, in 1053,in spite of the papal prohibition. In 1066 when his claim to the English throne was threatened by Harold Godwinson. Due to the fact that Harold Godwinson overlooked the dead king's wishes. Edward the Confessor, sworn his loyalty to William of Normandy when he died not to Harold. Harold Godwinson promptly had himself proclaimed king. It was only a matter of months before William, Duke of the large and powerful duchy of Normandy in France, paid Harold a visit to bring to his remembrance his own claim to the throne. William raised an army of Normans by promising them land and wealth when he came into his rightful kingship. October 14th 1066 he and William fought at the famous battle of Hastings. William and his army of Normans came, saw, and conquered. True to his promise to his fellow warriors, William systematically replaced the English nobility with Norman barons and noblemen who took control of the land, the people, and the government.

Economic and Political Systems of Cuba Essay

The Economic System in Cuba is known to be communism. Communism can be defined as a scheme of equalizing the social conditions of life. This system considers the termination of inequalities in the possession of property as well as the distribution of wealth equally to all individuals. Therefore, the means to achieve this is by the collectivization of all private property. By extension, collectivization is the process of forming collective communities where property and resources are owned by the community and not individuals. Freedom of expression is also mediated by the state. Communism is a system that usually is unsuccessful however, the only way that communism may be achieved is if every single member of a communist society is in complete agreement with the arrangement which was mentioned above. In early Cuban Political history, there were various communist as well as anarchist organizations for example the Communist Party of Cuba which was initiated in the early 1920’s by Julio Antonio Mella, Carlos Balino, Jose Marti and Fabio Grobart. It was then later led by both the first secretary and secondary secretary: – Fidel Castro and Raul Castro respectively. In Cuba, no other political party other than that of the Communist Party of Cuba is allowed to be formed in the fear that a non – communist party which will be funded by the United States of America would intervene and claim Cuba’s independence. In comparison to other ruling communist parties around the world, the communist party in Cuba retains a stricter approach and adherence to the tradition of Marxism – Leninism and the traditional Soviet Model. In addition, the Cuban Political System is described as authentic which is based on the unique history of the struggle for equality amongst individuals as well as independence. Cuba is a republic with a centralized socialist system with a structure of the State of Republic of Cuba as follows: –* National Assembly of People’s Power * Council of State * Council of Ministers * Provincial and Municipal Governments * Judiciary System

John Kotter’s Eight Steps to Change Essay

A Systematic tone-beginning Eight Steps to Change. We sh on the whole use the touch of low-cost air hose as an utilization to understand each clapperclaw. In 2003, Lufthansa was cladding intense competition from low-cost airline on short-haul domestic flights. In the date for domination in the German skies, Lufthansa specialise to match the low-cost rivals by expanding its testify net melt of cut-price domestic and European services.Establish a sense of prodding. From anterior experiences of battling competition and enforcing reposition, the first step pencil lead to the successful giveation of change is the population of urgency. Establishing a sense of urgency is critical for eliminating contentment and achieving the collaboration needed to implement change. Employees be required to co-operate, understand the differences in the midst of the companys current mail and a desired future move and step up to the mark in order to succeed. . 2. 2Step 2. Create a omnip otent directive coalition. once sense of urgency is established within the memorial tablet, the next step is forming a strong group of guiding coalition. The group could consist of internal or external organization members with significant believability and authority. These outsiders can provide valuable judgement, experiences and ideas that in turn allow the employees to share a common level of understanding for change. 3. 2. 3Step 3. cultivate a compelling trance.Obviously, the reason for changes is discontentment with the current situation and having the desire for a better future. For that reason, management have to set astir(predicate) a clear and accomplishable mickle that consists of these characteristics a desirable future, compelling, realistic, focused, flexible and, uncomplicated to communicate. They have to be specific about how the change leave behind improve the fundamental law and how those improvements will benefit employees in the organisation. 3. 2. 4Ste p 4. pass on the vision.During the implementation of change, there are skip over to have resisters opposing the change. Communication is the authoritative factor to convert the resisters with managers taking advantages of all the communication channels in the organisation to get the transformation effort crosswise to all. It must be able to begin and explain the specifically how the vision will benefit them. 3. 2. 5Step 5. Empower others to act on the vision. In every change, there are bound to be obstacles. The first quartet steps encourage employees to tackle changes.To make headway support change, obstacles that obstruct the way to attaining the vision should be eliminated. If the obstacles happen to be an employee, the organisation may well have to conciliate the option available or disunite the relationship with the individual. 3. 2. 6Step 6. Generate short-term wins Depending on the significance of change, some transformation of change cogency carry off years to on wards it is successfully implemented. In the case of Lufthansa, in order to top the low-cost air travel industry, the duration great power approximately recede ten years.Attitude and motivation among employees might fade along the way. Soon, they will unprovoked sight of the vision and become discourage and disappointed therefore Lufthansa should set up multiple short-term win situations in a major transformation change. 3. 2. 7Step 7. unify gains and push for more change. It is important to strike out that celebrating a short-term win might create complacency among employees. So alternatively of celebrating or declaring victory prematurely, organisation should take the opportunity to implement larger changes.With the bureau and belief, employees will be able to accept larger and more drastic changes than before. formation should build on the current momentum to push for more change. 3. 2. 8Step 8. Anchor revolutionary approaches in the companys socialisation. Once the o bjective has been achieved, prove the positive head to employees. After that, management should ensure that cementation work such as new operative methodologies and policies are enforced into the company culture whereby continuous improvement and changes are seen as norm and survival.

Marketing Plan: Product and Performance Essay

Executive SummaryMobility, latest trends and technologies are three most significant factors that customer seek today when they walk-in in an electronic item’s outlet. Years before the journey of technology started out from the calculator the most basic computer as we call it. Today how that technology has emerged and the most latest is PDA (Personal Digital System), full computer in a small device to perform click all of the tasks. New Nokia Mobile phone has all the features of a desktop computer, no need of a laptop.You get your product to begin with.The english major source in use during cricket matches, exercising in the morning and during traveling for work or school. 73% of college easy going women (18-25) years of age surveyed tune into radio, although the channel loyalty is not there. The most frequent listening occurs after dinner time.This is different from male portable radio listeners as the FM channels are replacing cassettes as a music source while driving, o ther survey shows that second one of the popular source of music are the FM stations, FM 89, 91 and 106.Finding the demographics of your target marketplace will permit you to good tailor the launch strategy to the folks.

180 million), 16.667% of Pakistanis are young. Statistics shows that 60% of population is under 25 that is 2/3rd wired and nearly 10 million are in the urban areas. GEN X and GEN Y is the most experienced  and accessed generation in the human history.A merchandise is a new product procured or produced by the business to meet with the requirements of the customer.Our Secondary objective is to make good profits and make few more products like this with working hand in hand with the fashion and our way would be walking extract from earrings to necklaces, bracelets and other fashion accessories.Marketing ResearchMethods of Data collection:Basically there are two methods of data collection:1) Primary Data2) Secondary DataPrimary Data Collection:Primary available Data is that data which is collected specifically for the project at hand. The primary data for our assignment resulted from the unstructured interviews that we conducted from different many friends and family members and also many strangers.Secondary Data Collection:Secondary Data is that data, which has already been collected for some other purpose but can be used as reference material.The aim is getting your product into the industry although delivery methods vary widely based on the product.

In other words, the market we are making is new from where fashion and technology work together but a relatively alike market of mobile phones has a situation that cares more about apps logical and memory than on radio and/or music player. So, we are going to come in with focus on music players and radios deeds that would even make consumers look different by the fashion of earring they’d carry. A new market but has links with the standing strong market of static mobile phones.The ProductIntroduction of product:Now days, mobility is becoming an important factor in electronic devices.A superb product isnt simple to define since itll mean things.Technical and Functional Aspect of the Product:This gross product would be an earpiece connected to a player that would be smaller than a phone. Both the devices would be connected via Bluetooth. Their range of connectivity would vary to many more than 20 square meter so the consumer doesn’t need to keep the device near and playlist functions would increase the ability of gross product to play songs as per the mood of the consumer. Reason of using earrings with the wireless earpiece is to make the product easier good for people to wear and increase the range of our target market.To start with, youre mindful of how much it costs to create your merchandise.

Issue: How to identify the potential outlets?Mission statement:â€Å"We are the followers of the latest trend we strongly believe that fashion develops, we provide the best and quality is never compromised. Technological more flexibility and innovation are the key factors that we emphasize on while shaping a solution for our customers.† Vision statement:â€Å"Innovation†Our product Oriented Definition:â€Å"We manufacture earrings local radio with music player†Our Market Oriented Definition:â€Å"To the trendy and tetchy, Moby X is the radio and music player that provides mobility and a perfect curious blend of fashion and technology that makes you feels different and latest than others.†Target MarketMoby X will form a major share of its domestic market amongst those people who are attracted towards the product with exclusive appearance, unique functionality, style and design.Describe the way your target marketplace free will get your merchandise and also how youll market your goods.The mini chip radio and music player in the earrings itself is fascinating and will communicate on its own towards the people who are engrossed through mini products.Positioning†¢Product Positioning:Moby X would provide higher frequency range compared to other radios available in the market, good will have a long lasting battery and the most important advantage that our product provides is the mix of fashion and technology that various forms our distinctive attribute.Value Proposition:Moby X is a better quality product providing distinctive feature and being a leader makes it more special and different letter from other competing products.  LAPCO using latest Japanese technologies is most reliable and durable.In the product description, you should explain what product or your service is, the particular thrust of apply your strategy and the strategies thatll be used to do your own objectives.

†¢ Complexity: Moby X is easy to use and the first demo CD provided with the product provides the proper guide and features to use the product.†¢ Divisibility: Moby X is an expensive product and initially no discounted rates can be offered.†¢ Communicability: The experience that customers take with them will make its use and only difference spread amongst customers.Market AnalysisBasis of SegmentationDemographic segmentation:Demographics refer to the characteristics of population including such factors as size, distribution and growth, because people constitute market, demographics are of little special interest to market executives.In the end, it is not mysterious and youll be able position to promote your company or to manage a person to deal with advertising for you once you understand how pieces fit together.Any one lying in the income bracket of Rs 50,000+ can afford this productPsychographic Segmentation:The psychographics of the Moby X can be analyzed by r eviewing the advertisement. The lifestyle shown in Moby X advertisements portray successful, sophisticated, professional women who are active energetic and full of life. Behavioral Segmentation:Under this aspect LAPCO Company has based their automatic segmentation on the basis of customer desired benefits. People would prefer buying our product because it’s the first ever product to be launched by LAPCO with radio logical and music player facility which is easy to use, and more over its attractive mix of not only radio and music player great but also as a fashion accessory.The plan has to be accessible to any employee at any given moment.

Proper awareness about the product logical and the setting of the frequencies accordingly so not to affect the ear would have to be justified to the people.Technological:Pakistan is developing technologically and further awareness and further development will assist in improving the product’s functionality.Competitor AssessmentCOMPETITOR ANALYSISMoby X is competing in portable media industry.Major Competitors:Our major competitors are all those manufacturers who are specialized in logical and dealing with microelectronic items, who believe in size and design of product with quality.A well-designed marketing program can help you bring new customers increase awareness of your company and boost sales.COMPETITIVE STRATEGIESDifferentiation:Moby X is an innovation in the arena of radios and all kinds of classical music players. It gives connectivity to the outside world in a way that adds value and beauty to the face.Focus:Moby X is designed especially unlooked for upper middl e class and upper class urban population including GEN X AND GEN Y, fashion followers and trend setters.COMPETITIVE POSITIONMultiple Markets:We what are following the multiple market strategy for Moby X by focusing more towards the upper class and upper middle social class of the society.A promotion program must be determined by where a business ought to be at some point later on.

Since our product is new we great need to do personal selling and convince consumers to buy our product. Then eventually as we gain a foot hold in the market we will have retailers selling our product.Marketing StrategyMARKETING MIXPRODUCT CLASSIFICATION:Moby X is broadly classified as consumer product and under this category we define it as a own specialty product because it is a perfect mix of style and technology. It involves strong brand preference and loyalty, special purchase efforts by consumers, little comparison of brands and low price sensitivity.The advertising program is an overall responsibility from the advertising staff along keyword with company leaders .It includes 3 years’ money back warranty and a pair of fabulous earrings along with the product. Customers are encouraged to fair share their views about the buying experience of the product and after sale experience through surveys conducted at the outlets. An exclusive website is designed to cater based its customers for solving all  their queries regarding the product. Online purchasing service is also available.Face it is a chore.

3 years (Limited) Warranty.Size – (1/3x 1/3 x 3/8) mm is the size of radio chip. 30 x 20 x 5 mm is the size of the earring. Weight – 1/2 oz is the low weight of the earring radio.Marketing plans might appear intimidating initially, but they are manageable and can be inspirational to collect.BRANDINGBrand Equity:Moby X will establish it with the passage of time because of new its good quality and better understanding of customer needs.Brand Name Selection:Moby X is selected as the brand name because it defines the mobility and easy to around carry feature of the product and X signifies the extra factor that we  provide to our customers in the form of earrings (fashion accessory).Brand Sponsorship:LAPCO is manufacturer’s brand.Brand Development:No extension.There are good essential elements that plans include although advertising strategies can change depending on type of goods or services, the business and the goals you last wish to achieve.

Free demo CD is also given. Product Mix:Initially Moby X is introduced in the form of earring but with the passage of first time it will offer in other versions also like in the form of bracelets, rings, and lockets.Product Life Cycle:Our product is at the introductory early stage of product life cycle stage.PRICEMarketing Objectives:â€Å"To create a market share and to stand out as distinct product amongst the other competitors†Marketing Mix Strategy:The price has been decided based on the competitors logical and customer needs and requirements.The promotion plan makes it possible for the advertising team to examine their prior decisions logical and understand their outcomes to be in a position to get prepared for the future.PRODUCT PRICING STRATEGYComparing competitor’s pricingCompetitorPriceSinclair XI Button RadioRs. 2304.93FM Mini Radios Rs.719.3500.PLACEMENTThe product would be sold through â€Å"Indirect Marketing Intermediary†. The product will be sold through push strategy that is product would be first distributed to the wholesalers and then to retailer. The retailers would assist in creating contact with the other retailers which would expand the network and add value.

Newspaper:Moby X is an expensive and new product. There is need to create awareness amongst people that such a product exists. ‘Dawn’ newspaper would be a better choice to advertise being one for the most popular newspapers in Pakistan. A full page would be dedicated to advertise the product providing  a detail know how of the features and distinctive attributes.Since it is a fashion product also magazines such like SHE, STYLE, SYNERGYZER and MAG would also be used to advertise the product.Billboards:The locations where we have decided to place our advertisements are cell all the upper class areas in the populated cities of Pakistan. For instance the major areas identified all the other malls where luxury electronic item’s outlets how are available advertising would be done by placing billboards. In Karachi, at Teen Talwar, Boat Basin, Shahrah – e – Faisal and other foreign markets like Tariq road, Saddar Mobile mall and the road that leads t o Jinnah International Airport.com that special offers all the latest songs.Sales Promotion:One free pair of earring apart from the one already provided in the package would be given with the product.Public relations:Brochures providing details of the safety of wood using the product would be distributed in public places. Articles about the working and flexibility in use would be published in a leading magazine to inform the public about the safety in using this product.August: Increase our relative market share and launch our product in other flat major cities of Pakistan i.e. Lahore, Islamabad.September: We will start an integrated internet campaign targeting young college students.