Quocirca Insight Report: Operations Management in UK Financial Services

QUOCIRCA INSIGHT REPORT November 2007 Contacts: Sharon Crawford Quocirca Ltd Tel +44 7989 243830 sharon/[email  protected] com Operations Management in UK Financial Services How effectively is technology being applied to help to monitor and improve operations performance? The extremely competitive nature of the financial services industry today and the changing landscape of customer expectations and their approach to investing in financial products, puts an onus on suppliers to consider how well they are dealing with new and existing customers’ business transactions. Much is written about the frontline call centre operations, but this report focuses on the back office activities, the operational area where complex applications and enquiries are processed. This research investigates how technology is being applied to manage and improve operations. ? Operations management is a critical business task contributing significantly to the overall performance of financial services companies Over 90% of UK financial services companies set and publish operational targets. Reducing processing times and costs are targeted alongside measuring the quality of work done. Production Management methodologies such as Lean and Six Sigma are being applied extensively to manage work throughput. The UK has embraced the use of specific operations management systems 85% of UK financial services companies report having specific systems in place to support operations management. Reporting, document and process management tools and to a lesser extent, staff forecasting and scheduling applications are all components of such systems. Such systems have had an impact on improved operations The survey shows that introducing operations management systems has led to improved customer service, reduced costs and better staff utilisation. However, despite a reasonable degree of satisfaction with such systems, there is room for improvement. Also, although staff attitudes should be important, motivation and staff satisfaction levels have shown lower levels of improvement. Real ime visibility of work is vital Visibility of who is doing what at any point in time, with the ability to reallocate work during the day, is stated as being very important to effective operations management but this is not always an integral part of the operations management system. Although continuous improvement to operations management performance is desired, obstacles do exist. The survey found that staff resistance to change and to being monitored, competing demands of other revenue generating priorities and dealing with legislation, were all di fficulties faced when trying to introduce initiatives to improve operations. Against this, establishing a return on investment (ROI) for operations management improvements can be difficult. Many systems in place today are based on client/server technologies but there is desire to move toward pure web applications This opens the door for Software as a Service offerings (SaaS). However, SaaS is not perceived as a way to support operations management systems. Is this because there are genuine doubts about SaaS or due to a lack of understanding of the potential benefits of the SaaS model? Bob Tarzey Quocirca Ltd Tel +44 1753 855794 ob. [email  protected] com ? ? REPORT NOTE: This report has been written independently by Quocirca Ltd to address certain issues found in today’s organisations. The report draws on Quocirca’s extensive knowledge of the technology and business arenas, and provides advice on the approach that organisations should take to create a more effective and efficient environment for future growth. During the preparation of this re port, Quocirca has spoken to a number of suppliers and customers involved in the areas covered. We are grateful for their time and insights. ? ? ? Conclusions Operations management is a complex area to which to apply technology. Control and continuous improvement require effective matching of a variety of tasks and timing with resource and skills. The investment needed to put detailed applications in place is significant but has been found to be effective in many organisations that have done so. There is potential to improve further by using systems that allow real-time visibility of the progress of dealing with customers’ business. An independent study by Quocirca Ltd. www. quocirca. com Operations Management in Financial Services Page 2 Introduction Performance Management in the financial services industry is vital and well supported by the suites of Corporate Performance Management software that enable these companies to budget, plan and report in an accurate and timely fashion. Underpinning successful performance management is the need for predictable and controllable day to day operations management, both front and back office. Much has been written in the media about the use of tools to achieve this in call centres in businesses today. This report is based on research was carried out to investigate the extent to which software applications are used to monitor and measure the effectiveness of handling customer business – focusing on the back office operations and specifically addressing organisations in the UK. attempting to include some measurements of the costs of rework, (figure 2). Figure – 2 Do organisations attempt to quantify and measure business value of perational measures? 0% Reduced Costs Number of complaints Customer Response times Staff utilisation Staff satisfaction Re-work Detailed quantifiable measures None, but plan to Other Some measures Not directly related 20% 40% 60% 80% 100% Operations Management is a critical business task All the organisations that were interviewed set and publish achievement metrics against customer service level agreements, with 93% setting different targets for different types of customers. 5% of organisations interviewed set and publish performance levels against targets for operational staff and use both team and individual measurements although monitoring individual performance is more difficult and given a lower degree of importance. It is interesting to note the types of measures that are used and the research found that there is an increasing focus on measuring the quality of work alongside the expected measures of costs and speed of processing work (figure 1). Figure – 1 There is some weight given to measuring staff satisfaction and linking this to financial returns for the business. Quocirca believes that it is important to consider the impact of systems on staff satisfaction and that any attempt to apply technology to improve operations management should take account of the way in which the system impacts on the staff dealing with customer business. Production control and continuous improvement Operations management is often associated with production of physical goods and methodologies such as lean and six sigma are used to address quality and efficiency improvements. These approaches study the work stations, the efficiencies of moving work from one to the other, space and time improvements and so on. The philosophies can arguably be applied to moving paperwork through an office, each work station being a person with specific skills. Quocirca tested this with the Operations Managers in the survey and a surprising 100% say they operate a philosophy of continuous improvement, with 66% using either lean or six sigma approaches. Use of these methodologies has changed since they were first introduced by Frederick Taylor, when employees were often considered to be a liability, with organisations applying streamlining and lean manufacturing principles to keep employee costs down. The approach to increasing productivity was based on a carrot and stick approach reward success, punish failure – together with making the tasks quite granular so that individuals could become extremely quick and skilled at a limited set of tasks. Today employees are considered to be assets – the only appreciating asset in many organisations. Organisations use words like engagement, empowerment and job satisfaction when talking about their approach to employee productivity. And in general, although it is easy to forget that this is not true of all employees, staff do like to feel that they can add value and participate in decisions that may affect them. Gaining the buy-in of employees is an important factor when introducing systems to monitor staff productivity and the quality of work being done. Prioritisation of operational factors measured 0% Quality/error rates Time taken for a process Cost of processing No of complaints Speed of response 5 – Most important 4 3 2 1 – Least important 20% 40% 60% 80% 100% Although quality of work is ranked as being of the highest priority, the performance targets set for both team and individual measurement still put productivity above measurements of quality and good customer service. This could be because productivity is easier to monitor or because, in reality, cost measurements are associated with the level of work throughput. Measuring staff satisfaction is given a much lower priority in general, with only 24% of organisations stating that this measurement is very important for teams, 11% for individuals. There is evidence however, that organisations are aware of the costs of re-work and of handling customer complaints. When asked about establishing a return on investment for operations management systems, many organisations are  © 2007 Quocirca Ltd www. quocirca. com September 2007 Operations Management in Financial Services Page 3 Use of software applications 85% of those interviewed have specific applications to measure and monitor operations with over 80% expressing that these systems are satisfactory or very satisfactory. Some shortfalls were noted which included the difficulties in monitoring individual performance and in measuring the qualitative aspects of work. Those that have these specific applications report significant improvements (figure 3) but it is surprising that the use of an application does not have a more far reaching impact, despite being considered to be successful. Figure – 3 Figure – 5 How important is it to: 0% Know, at any point in time, who is doing what? Reallocate work during the day? 20% 40% 60% 80% 100% 5 – Very important 4 3 2 – Not important at all Impact of operations management system on: 0% Improved customer service Reduced operational costs Enhanced quality of applications Improved staff utilisation Improved staff motivation Major Impact Some Impact No Impact 20% 40% 60% 80% 100% This is likely to require specific systems focused on defining the steps involved in a process and then measuring throughput, over and above the use of standard BI (business intelligence) tools to measure the overall metrics of work throughput. Obstacles to improving operations Despite the high level of importance that this survey found was attributed to operations management improvements, and to investing in specific systems to enable this, obstacles do exist, notably: ? staff resistance to change and to being monitored ? other priorities in the organisation which included dealing with legislation and responding to introduction of new revenue generating products ? establishing an ROI. Figure – 6 It is perhaps the complexity of what actually comprises such an application – which includes management information systems (MIS), document and process management as well as scheduling and forecasting capabilities. Quocirca believes that it is complex to bring such technologies together into a comprehensive application supporting the full requirements of operations and there is room for those vendors that focus on specific elements to develop a purpose built product to support operations management. Figure – 4 What are the main obstacles to improving operations management? 0% 20% 40% 60% 80% 100% Essential components of an operations management solution 0% Management information system Document management Workload scheduling Staff forecasting Process management 20% 40% 60% 80% 100% Staff resistance to being monitored/measured Staff resistance to change Establishing an ROI Other priorities in organisation Major problem Somewhat of a problem Minor problem Not a problem Technology usage 4 3 2 1 – Not important 5 – Very important Real-time visibility of work Applying production management techniques to work throughput should mean that it is possible to know exactly where a piece of work is at any time. The key issue is whether this would apply to tracking a piece of customer business, be that an application for a new product or a query or claim against a product. The survey found that having real-time visibility of work and being able to re-allocate to the appropriate person was important. This may mean an overhead of logging individual actions on an operations management system, but it is clear that this is perceived as beneficial.  © 2007 Quocirca Ltd The operations management systems in use today are predominantly client/server (61%) but when asked what technology would be expected to be in use in two years’ time, there was a shift to pure web technology (91%). Respondents were also asked about hosted offerings either as pure hosted or as software as a service (SaaS). Neither of these was perceived to be important to operations management delivery today or in two years’ time. Technically there is nothing to prevent the move to SaaS applications and it could be a lack of awareness of what the benefits of SaaS are, that produced this response. However, it is likely that operations is perceived as very specific to each financial services organisation and that this would put it behind other areas of the business in the move to SaaS technologies. September 2007 www. quocirca. com Operations Management in Financial Services Page 4 Interview Sample Distribution The information presented in this report was derived from 75 interviews with senior IT influencers and Operations Managers completed in May 2007. It was important to get an even balance of views so 46% of the respondents were directly involved in operations management with 54% representing the IT function. The sizes of the organisations contacted, selected by the number of employees to be a representative sample of UK Financial Services organisations, were 5000+ employees, 57% ; 1000 – 5000 employees, 43%. The Financial Services organisations were spread over Insurance and Assurance, Retail and Investment Banking, Pensions and Building Societies. About eg eg is the leading provider of Operations Management solutions that form a rapid performance improvement programme to Improve Customer Service Delivery. Operations Management improvements are made through the deployment of two core products/services: ? ? Proprietary operational intelligence software packages Training and development for Managers and Team Leaders in Production management methodology g’s proprietary software package eg operational intelligence ® including eg work manager ® has been developed and refined over the last 15 years and form a comprehensive work, resource and performance reporting tool. It enables clients to gather information about the key factors affecting performance and, using eg’s operational management techniques identify appropriate decisions and actions that improve efficiency and redu ce costs within weeks. When implemented with the eg principles of operational management ® methodology, eg operational intelligence ® provides the opportunity for eg’s clients to double their productivity and dramatically improve customer service levels almost immediately. It also forms a foundation for continuous improvements in subsequent years. For more information, please contact: Sophie Goodwin Spreckley Partners Ltd T: +44 (0)20 7388 9988 E: [email  protected] co. uk About Quocirca Quocirca is a primary research and analysis company specialising in the business impact of information technology and communications (ITC). With world-wide, native language reach, Quocirca provides in-depth insights into the views of buyers and influencers in large, mid-sized and small organisations. Through researching perceptions, Quocirca uncovers the real hurdles to technology adoption – the personal and political aspects of an organisation’s environment and the pressures of the need for demonstrable business value in any implementation. This capability to uncover and report back on the end-user perceptions in the market enables Quocirca to advise on the realities of technology adoption, not the promises. Sponsorship of specific studies by such organisations allows much of Quocirca’s research to be placed into the public domain at no cost. Quocirca’s independent culture and the real-world experience of Quocirca’s analysts ensure that our research and analysis is always objective, accurate and challenging. Quocirca reports are freely available to everyone and may be requested via www. quocirca. com. Contact: Quocirca Ltd Mountbatten House Fairacres Windsor Berkshire SL4 4LE United Kingdom Tel +44 1753 754 838  © 2007 Quocirca Ltd www. quocirca. com September 2007

The leading founders of the United States of America

Explain why you think one of the following made a significant contribution to American political thought prior to 1800: Benjamin Franklin, James Madison, George Mason, Abigail Adams, Alexander Hamilton, John Jay, or Tom Paine. Explain his or her role in these important deliberations and why you think it was significant to the process, and may have influenced final outcomes. BENJAMIN FRANKLIN Benjamin Franklin was born on January 1, 1706 In Boston Massachusetts; he was the youngest child and the tenth boy in a family of 17 children.He was one of the leading founders of the United States of America, a member of the committee that draft6ed the declaration of independence and was one f its signatories. Despite the fact that his formal education ended early, this never terminated his education, he believed that the doors of wisdom are never shut, in connection, he learned simple algebra, navigation, logic, history, science, English grammar and a wide knowledge of several other languages.A s will be discussed below, Benjamin Franklin’s contribution or role or influence on the American political thought prior 1800 was and still remains significant both in America and in all the other parts of the world. To begin with his contribution is shown or rather confirmed in his belief in the fact that good citizenship included an obligation of public service. He himself served in United States of America in one way or the other for most of his life, for him there was no greater purpose in life than to live peacefully.Again, Benjamin as a political activist and writer, more than anyone, invented the idea of an American nation; furthermore, he was an early proponent of colonial unity. He also founded the roots of American characters and values, a marriage of the practical and democratic Puritan values of thrift, community spirit, self government institutions and opposition to authoritarianism both political and religious with the scientific and tolerant values of enlighten ment.Benjamin Franklin also spearheaded the effort to have parliament repeal the unpopular stamp act, this was in the American governing body. He became involved in politics after which he was selected as a council man then he became a justice of the peace for Philadelphia. Later on after being appointed the deputy master general, his most noticeable services in domestic politics was his reform of the postal system (Woolman, 2004). He also affected diplomatic service in connection with the relations of the colonies with Britain and later with France.He also protested against the political influence of the Pennsylvania family in England who were the proprietors of the colony. Another factor which shows contribution politically is that he was a member of the club of honest Whigs alongside other thinkers like Richard Price; this is when he became involved in active politics. He is also the founding father to four of the major documents of the United States; the declaration act, the tre aty of Paris, the treaty of Alliance and the United States constitution and all these form a very vital part of the American political system.The other significant thing he did that helped to tighten the American political system was that he advocated for the abolition of slavery which in turn led to stable political government. Among his many political roles there are some of the most evident ones which are discussed below; he was a representative in the Pennsylvania assembly, a colonial agent at London and a representative to the continental congress at Philadelphia in 1776 and the United States ambassador at Paris in 1783. At each of these pints, his political and social roles had changed.He was well situated and well positioned in his area of leadership that he was able to participate directly in the formation of government policies, by worship1785, he was on the periphery of the forums of political power and social privileges Although Benjamin Franklin’s use and discover ies in science and innovation are well rounded accomplishments, he is most credited for his action in the political office. Benjamin’s ethical mind and thoughts helped make the nation of America what it is today. He believed that America had to separate itself from its control under Great Britain.It is therefore a justifiable conclusion that perhaps his most heroic act is the work he contributed to make America the free nation it is today. Benjamin stood firm in his ground and belief that the Americans had to branch off from England even if there was strong opposition. He had to take the risk to as great depths as compromising with his fellow politicians yet he proved really heroic in the time of the political turmoil in the land for his ability to reason with others, stand true to his belief and the courteous nature at all time. Precisely, his work as a politician paid off greatly, more than he may have expected (Tomasi, 1999).Benjamin Franklin was truly the first American t o live the American dream, the dream that everyone, regardless of gender, race or background can be anything they desire through honesty and hard work. To cup it all, Benjamin Franklin was and still remains a hero in that through the voice he had in America, he has since brought hope to so many a people and through him, everyone seems to be having a bright future in the United States of America. He is truly a hero. Works cited Woolman, J. Autography of Franklin. Harvard: Kessinger Publishing, 2004. Tomasi, M American History. NY: Oxford, 1999.

Computer Information Systems Brief Essay

The currently technology standing of Kudler Fine Foods is lacking greatly. The current limited abilities cause a set-back to the potential that the Kudler Company is capable of reaching. Minimal shoppers are reachable, report preparation is time-consuming, and inventory control is not at its best. After identifying some of the downfalls of the current information system maintained by the company, suggestions will be offered that will help increase productivity as well as customer satisfaction. Current System Kudler Fine Foods appears currently to be a partially manual company. Many tasks that are performed as a manual transaction or entry could be handled through system automation with the right computer hardware and software. Various possible set backs exist because of the lack of an automated system. Manual record keeping can be costly due to the time it takes to manually document and reproduce company data. The need to constantly reproduce data records for different reporting purposes takes time and manpower. Another down-fall of the current manual system in place is the risk of human error. Common errors include calculation mistakes and the transposing of figures. Upgrade Options A few options exist for converting from a manual to a computer based. The lower end of computer automation would be the use of a general purpose software application package. One example would be Microsoft Office which is similar to the current package in place. This package includes word processing, spreadsheet, database management presentation graphics, and personal information management. The high end would be application specific programming. These programs are designed for the specific purposes such as business accounting, transaction processing, customer relationship management and resource planning (O’Brien and Marakas, 2008). Still even more specific would be custom software, prepared for the specific needs and desires of Kudler Foods. Benefits of System Conversion Currently all major business transactions outside of customer sales and training classes are handled by one individual. The fact that this one individual is responsible currently for three locations, with more to come soon, is an even greater reason to look toward full system automation. Using the right software program will allow the activities of all three current locations as well as any future locations to filter into one main database. Information gathered into the one database can then be used for analysis, comparison, and reporting purposes without the need to physically travel to the various locations. There are also financial and accounting benefits of moving forward with system automation. Accounting packages available offer automated reporting of receivables, payable, expenses, and revenue. There is even a useful tool of check printing, recording, and reconciliation. Through computer interfacing with the financial institutions that Kudler maintains its financial accounts reconciling information can be transmitted electronically via secure internet connections. The use of account and product codes would be an asset to the inventory capabilities of an automated system. Sales and other transactions of each individual store location would have a unique identifier code. Merchandise that is supplied by each location would have product codes. Each determined area of the locations would have and identifying department code, for example meat, produce, bakery, etc. Data collection using the various options of coding allow the system to collectively report any pertinent information, or individually report according to location, department, item, and so forth as defined by Kudler Fine Foods. An added benefit of computer hardware and software is mass communication capabilities both internally and externally. The use of groupware allows communicating to one or several individuals without the use of paper, pens, postage or other office supplies. Memorandums, spreadsheets, and other documentation can be distributed through email, thus cutting office supply costs and information delivery time. One example of groupware is Microsoft Outlook. Through the use of the internet information is electronically transmitted to various specified locations and users. Using the internet for some business transactions would allow for product orders and advertising. Internet marketing and advertising allows Kudler to reach a far greater population than local advertising such as school ads. In addition to above mentioned incentives, internet usage for business would open the door for e-commerce. E-commerce gives potential customers outside of the normal driving radius access to products of Kudler Fine Foods. Customers would have the ability to shop via the web, select items of choice, and pay for the merchandise prior to Kudler shipping the product to a customer specified location. Possible Threats of Conversion The use of the internet is a great tool. Some benefits were previously mentioned, but there are also some threats. Threats such as viruses, spyware, sniffing, malware and several more exist whenever the internet is used. Each of the threats mentioned is an attack on the security of the company. There are various defenses that can be used to safeguard against these threats. In conjunction with limiting employee access to the internet, other defenses include firewalls, intrusion detection systems, value-added networks and proxy servers (Bagranoff, 2008). These defense mechanisms help to fight off unwanted attacks and unauthorized access to company data. Security Defenses Security threats can be internal as well as external. This being noted, there are also database management system software. This technology can be used for development, access, and maintenance of the database of Kudler (O’Brien and Marakas, 2008). More specifically this type of software can specify what personnel have access to specific locations within the computer system. It can determine if the access granted is read only or if the specified end-user has update capabilities. Conclusion In conclusion there are various options available to Kudler Fine Foods for the advancement of its business and accounting procedures. Evolving to a more technological computer programming system opens the door to more proficient record keeping, more cost effective communications and financial reporting, and business expansion. Potential security threats exist, as with all types of systems, whether it’s manual, semi-automated or completely high tech automation. There are tools available that make securing data just as strong a force as the posed threats. Kudler’s decision to move forward with total automation would increase time management, information accuracy, consumer population, and customer service.

Estimating the Damping in a Single Degree of Freedom System Lab Report - 1

Estimating the Damping in a Single Degree of Freedom System - Lab Report Example There are a number of sources for damping and in this experiment; we are required to determine their overall effect. The excitation of the system will be provided by a shaker driving the opposite end of the beam from the attached weight. Two different methods will be used to estimate the damping: half-power bandwidth measurement in the frequency domain and a logarithmic decrement in the time-domain. a) Set up the system to use an accelerometer to measure the vibration of the beam near the attached weight while applying a computer-generated forcing signal via the shaker attached to the opposite end of the beam. c) Observe the resonant peak corresponding to mass-on-a-spring type motion, and compare it to what you would expect based on a simple calculation using the mass of the attached weight and the static stiï ¬â‚¬ness of the beam. When a mechanical system is displaced from its position at equilibrium and then released, the restoring force returns it to equilibrium position. This kind of movement is referred to as free vibration. Free vibration results arise from the initial impact energy that keeps changing consistently from potential energy to kinetic energy forms. In a state of free vibration, the mechanical system is said to be vibrating at its natural frequency. However, due to some various causes, dissipation of the mechanical energy occurs during vibration and this effect is referred to as damping. In theory, an un-damped freely vibrating system continues to vibrate after it has started. In this experiment, we shall investigate the effect of damping and the level of damping in the mechanical system. Vibration can basically be classified in a number of ways including: b. Un-damped and damped vibration: In un-damped vibrations, no energy is lost or dissipated as a result of friction during the oscillatory motion. If any energy is lost, the

Auditing Introduction Letter to Aplollo Shoes, Inc Essay

Auditing Introduction Letter to Aplollo Shoes, Inc - Essay Example Larry Lancaster, Chairman, President and CEO Appolo Shoes, Inc 100 Shoe Plaza, Shoetown, ME 00001 RE: AUDITING AND ASSURANCE SERVICES This letter is to confirm the arrangements and understanding of the upcoming audit of your company. I will to take this opportunity to explain few points about audit and assurance services offered by the firm. The firm is proud to have been in operation for more than 15 years by providing excellent services to clients. We have qualified personnel in all departments who provide a number of services such as auditing and assurance, risk management and internal controls. The firm provides numerous auditing and assurance services which are customized according to each client needs. The objective of the audit is to provide an opinion on the fairness of the financial statements and conformity with the Generally Accepted accounting principles in the United States. Some of auditing and assurance services offered firm include but not limited to financial stateme nts audit, compliance audit and operational audit. Compliance audit will identify the level of compliance with regulations, procedures and rules while financial statements audit will determine the fairness of the financial statements. Operational audit will determine the efficiency of processes such as marketing, organizational structure and production methods (Luis, 2008). Some audit services include auditing of the historical financial statements, audit of the effective of the internal controls and systems, audit of employee benefit plans, cash flow audits, physical confirmation of inventories, direct assurance of existing of payable and receivables by direct correspondence with financial institutions and creditors, auditing of tax returns and compliance with the tax regulations, physical review of assets and properties, risk management assessment and capital adequacy audits (Manson & Gray, 2008). The audit will benefit your organization since it will give shareholders an assuranc e that the financial statements are true and fair, the audit will identify any potential weaknesses in the internal control procedures and provide appropriate recommendations (Luis, 2008). The audit will assist your organization in complying with the legal regulations and suggest measures of improving efficiency of operations through cutting costs. My role as an auditor will include detecting any misstatements in accounts receivables, sales, and cash receipts. I will evaluate the evidence on a test basis to ascertain whether the financial transactions reported in the financial statements relate to the period of reporting. It will assess whether the financial statement amounts such as revenues and expenses are correctly valued according to the accounting policies and standards (Manson & Gray, 2008). I will also review whether the amounts are appropriately described, classified and disclosed according to prevailing standards. I will detect material errors and fraud such as collusion w ith creditors and overvaluation of business assets (Luis, 2008). The audit will involve identifying weaknesses in internal control procedures and deficiencies in the design of the internal control and reporting measures. We will prepare the income tax returns with relevant schedules and recommend on measures of improving the tax reporting system. However, the responsibility of tax liability is only limited to the reporting period of the audit and does not extend to prior periods (Luis, 2008). In inventory valuation, we will identify whether

E-Commerce Website Development Using Component Technologies Essay

E-Commerce Website Development Using Component Technologies - Essay Example A major difference between the server side and client side is that when you are performing client side operations, you must always contact the server in some cases. For instance, when shifting codes based on an individual’s requirements, the code can be placed on the client side using Sencha or ExtJs and then a simple API coding on the server. On the server side, it is possible to stay completely inside without the need to access the client side if a user picks PHP UI framework. On the client side, the client code is visible to all users that are using the application, for instance, a web browser, but on the server side, the code is not visible to anyone viewing a webpage.The client side of computer programming interacts with temporary storage such as cookies and local storage while the server side of computer programming interacts with permanent storage such as SQL and files. The programming languages that these two sides use also differ; while client side uses programming language such as JavaScript, HTML, CSS or any language that runs in a client’s device and interacts with a remote service, server side uses programming languages such as PHP, ASP.Net in C++ or Visual Basic or any other language that is used in programming. Benefits of server side components One of the advantages of server side components is that they reduce the load on the user’s computer since it does not require any special or additional plug ins or browser scripting technology such as JavaScript. Secondly, with server side components website owners can create their own applications or use content management systems to maintain their websites without necessarily having to edit their code. Another advantage of server side components such as programming language is the ability for websites to provide dynamic content, which is contrary to the period before the server side languages when WebPages wee static. Server side languages provide an individual with security because in order to access a site one has to login using an ID and a password therefore a secure access to the site. This is done when the site sends a webpage known as a form where the user types his ID and password then submits them to the site. After verification that the user is an authenticated member, the server allows him secure access to the site. Application of component technologies in development of E-commerce website The electronic component commerce model comprises of both internet based transactions but also EDI based business to business activities that were used before commercialization of the internet. For development of technologies of e-commerce, there are three Meta levels that need to be c onsidered; infrastructure, services, and products and structures. Four pillars that include network, multimedia content, messaging and ordinary business services support infrastructure; these four pillars are contained in a complex web of technical, business and legal issues. The three meta-levels in e-commerce and their boundaries are determined by the business organisations, clients, service providers and other stakeholders that are involved in the transactions according to their specific and individual needs. Components that are contained in the e-commerce component models can be changed overtime, for instance, the WebPages that are used to display various business contents in the internet are bound to get outdated

Nutrition to prevent weight loss in stroke patients Essay

Nutrition to prevent weight loss in stroke patients - Essay Example Some cases will allow for the simple determination of nutritional ingredients. Many others are not as easy to deal with. In this essay, an attempt to present corresponding solutions to meet nutritional requirements will be done given the most common scenarios of stroke patients facing the risk of losing weight. Aside from the simple case, the following other situations will be considered: (1) stroke patients with poor appetite due to a damaged ability to chew and swallow normally; (2) poor taste and smell; (3) emotional issues preventing normal food intake; (4) the need for lifestyle change; and (5) stroke patients with chronic conditions. The purpose of including all these is to provide a ready set of guidelines for use when any of these situations are encountered. This essay is taken from the viewpoint of Nurses, Caregivers, and Nutritionists. A Case of Recovery from Stroke Without Complications: Determine Nutritional Requirements. There should be a periodic attempt to determine the stroke patient’s energy requirements in order to achieve a desirable weight. Of course, this is aside from taking BP before and after meals, and whenever there is a need to do so. Knowing the energy requirements will reveal how much calories are needed. Freda Myco (1983, p. 94) noted that â€Å"the energy needs of stroke patients†¦should be assessed in relation to body weight, body build, age, sex, health status, and physical activity levels.† For those who are normal, energy requirements would be about 2000 kcals/24 hours for men and 1,800 kcals/24 hours for women.... Knowing the energy requirements will reveal how much calories are needed. Freda Myco (1983, p. 94) noted that â€Å"the energy needs of stroke patients†¦should be assessed in relation to body weight, body build, age, sex, health status, and physical activity levels.† For those who are normal, energy requirements would be about 2000 kcals/24 hours for men and 1,800 kcals/24 hours for women. A stroke patient should take the right amount of calories to maintain weight. The consequence of too much calories will be weight gain, while lack of calories will turn the patient into a malnourished person with lack of energy to exercise. Since the topic of this paper is about nutrition to prevent weight loss of stroke patients, it should be worth mentioning that Freda Myco (1983, p.95) also clarified that â€Å"Malnutrition is not caused by simply taking too few calories, rather it is the result of a deficiency in the correct mixture of food constituents, vitamins, and minerals.â₠¬  Basic Rules For A Lean, Healthy Body What stroke patients will need is a good eating habit of the right diet containing adequate calories without the unwanted cholesterol. At Body Art, Tanya Lee Sheehan recommends (2008, p. 11) that a person should eat just enough every 3 hours. And the recipe should be â€Å"more lean protein, veggies, fruit and nuts†. There is a reason for eating more often but with less quantity. It gives time for food to be digested first before a new set will need digestion. But her ideas are for people who can still exercise and burn the food they eat through exercises. In the FAO (Food and Agriculture Organization) of the UN, along with Ann Burgess, Peter Glasauer (2004, p.83), there is a guideline about â€Å"How to help sick

The Vision Failed Case Study Example | Topics and Well Written Essays - 750 words

The Vision Failed - Case Study Example In HTE case, Mr. Barelli did manage to create a vision statement of 2 pages and get it pasted at every nook and corner of the building. But he failed to relate that transformational management needs a lot of input from the employees. His failure to realize the importance of the low line managers and executives and their involvement in taking his vision for the company ahead made his vision fail badly. If I were to advice as a member of board of directors, I would have voted against it. There are many reasons of this reaction. (Northhouse,2003) First and the foremost reason is that if a company's success is dependent majorly on the unity of its workers and good relations between the management and employees, you need to keep that strength with you. Secondly, if you want to change the vision and direction of your firm, you need to discuss this not only with the top line management, but the low line management and executives are also to be involved in this case. Thirdly, one must make the other stakeholders understand his point of view before taking such steps. So if I were to advice on this topic, I would have voted against Mr. Barelli's transformational leadership. Mr. Barelli though that he had a very clear image of the vision of HTE in his eyes, but this was not the case. He was sadly mistaken. May be he was clear about the goals he had in mind with regard to this organization; he was surely unaware of the best methods to implement such changes. The vision was to create a very democratic environment. The description of the case indicates the culture prevailing in HTE at that time was already quite democratic. There was not that alarming need of converting it to something new where none of the employees were able to understand the changes, and the motives behind those changes. The implementation of the transformational plan was for sure very weak. Most of the cultural and social factors were not taken care of. The vision highlighted a democratic kind of environment where Mr. Barelli rarely used to get into a dialogue. He preferred monologues, one sided orders better than that. This clash of personality and vision resulted in poor implementations and confusions creation after four years of his management. (Hesselbein and Goldsmith, 2006) Answer 3: Mr. Barelli had immense knowledge of the aircraft industry. The vision he crafted for HTE was really attractive if we look at the wordings and the way it was drafted. But the worst thing about Mr. Barelli's management was that it damaged the social fabric of this organization. The organization was known for very effective and impressive relationships between employees and the owners, but his poor implementation of the plan changed everything for him and the organization. He tried to change things. Things changed for the worst. (Beyerlein, McGee, Klien, Nemiro and Broedling, 2003). His managerial skills resulted in a damaged social fabric of an organization that had this strength of its social fabric as it's most important success factors. Answer 4: If Mr. Barelli returns as president of this firm, I would advice him to first of all make the vision clear to him. Once he understand it fully in the form of what exists and what he is looking for, the next step is to take into consideration all those who are involved and would be effected by this change. Take them in consideration, discuss it out with them, listen to their

Analysis of My Genetic Inheritance Essay Example | Topics and Well Written Essays - 1000 words

Analysis of My Genetic Inheritance - Essay Example My younger brother Larry is very close to my Father. I am not sure why this is, but I think it might be because he is very cute, and he likes the same sports as my Dad. They do things together sometimes, such as watching particular sports programs on tv, and I can see that they both like this very much. My Dad never did that with me when I was his age, and I think maybe as Dad gets older he is not so busy with work, and he likes to spend time with Larry to relax. Dad was not close to his own father, and I am guessing that he wants to make up for that with his own sons, or at least one of them. I am really happy about this because it shows that a person can break free from the patterns that they experienced themselves as a child, and they can make a new start with the next generation. My older Brother Mark has left home and does not have much contact with the rest of us in the family. I used to be a bit afraid of him because he always seemed to be a person that wants to be in control. Now I think maybe he had a difficult job, being the oldest of three boys, and he used to argue a lot with my father. He is the same age as one of the cousins on my father’s side, and I think that he learned some bad habits from him, such as drinking and smoking. I would not be surprised if he even takes drugs, because he was never that impressed with rules and authority. It seems that alcoholism is a common occurrence in my father’s side of the family. My Dad talks about his brothers sometimes, and the mischief they got involved in when they were teenagers. I can see that he has changed since then, and that is probably due to the influence of my mother. She does not drink alcohol, and although she is not totally against it, she would prefer if her family stays away from things that make them behave badly. My brother seems to have a very independent mindset, and it may be that he has inherited this from my grandfather on my father’s side. The cousin that he used to spend time with his now broken contact with his parents and he lives in some community in Nevada. I am not sure what that is all about, but it may have something to do with alternative lifestyles and a kind of resistance to mainstream American values. My older brother does not follow the same kind of crazy ideas that my cousin does, but I think he is disillusioned with his job and wishes he could move away from this state and start something new in a different place. He is certainly more rebellious than my younger brother and me, and I think in the future he might surprise everybody by doing something quite amazing. He is the brightest of us all, but he chooses not to study hard, and so it is possible that one day he will come back to our way of thinking and do something useful with his life.  Ã‚  

Destination Marketing Essay Example | Topics and Well Written Essays - 3500 words

Destination Marketing - Essay Example These DM initiatives in Vietnam have led to considerable improvement of tourist numbers with the number surpassing 5 million; this represents a 40% increase from 2009. However, Vietnam still lags behind other countries within the region for instance, Laos and Philippines which are smaller destinations. Vietnam marketers are also concentrated in promoting Vietnam as a cultural destination rather than focusing on other products like sports and eco-tourism which has gained much attention in the recent years. 1. INTRODUCTION Vietnam is the destination under focus and the country belongs to the greater Asia-Pacific tourism circuit. This report identifies the destination marketing organizations (DMOs) within Vietnam as well as giving a version of their structure and responsibilities. SWOT analysis is conducted to investigate the market’s competitiveness while also giving the challenges and constraints. Lastly, develop a two year marketing plan aimed at keeping the destination compet itive in a rapidly changing market place. We use the Vietnam National Administration of Tourism’s website to find information about their operations including their overall objectives, promotional activities; it also gives their structure and partner organizations in both private and public sector. This report analyses key destination markets while also gauging Vietnam’s competitiveness within the region; this assists in understanding trends of development in tourism industry while at the same time investigating threats and areas of opportunities that can be explored to improve performance in the succeeding 2 years. 2. BACKGROUND INFORMATION ABOUT THE DMO The major DMO is the Vietnam National Administration of Tourism (VNAT) which is an institution under The Ministry of Culture, Sports and Tourism that is tasked with marketing key Vietnamese attractions (Kozak, Gnoth & Andreu 2009). In terms of structure, this authority is headed by a Director General who coordinates f unctions falling under the following departments: travel, hotel, finance, international cooperation, personnel organization and  tourism marketing departments (Schweyer, Pi?amme?tta?wat 2011). The following are the activities that VNAT is involved in: Planning This is a management function that indicates the process of formulating and organising all the activities needed to achieve desired ends. In the DMOs, planning determines how, when and who is going to carry out specific tasks within the tourism industry to promote brand Vietnam. DMOs plan on how to utilize both human and physical resources including finances and other government incentives to encourage growth and competitiveness. Business development This is a long term process that the DMO’s undertake in order to introduce new products as a response to changing customer tastes or tap into new markets. It is always accompanied by extensive research that interrogates the holistic tourism industry in Vietnam (Ritchie, C rouch 2003). Public relations They carry this out by managing information flow between the government and tourism stakeholders. This is in an effort to maintain a favourable image of Vietnam in order to keep the tourists coming in. Vietnam has had a history of conflicts and human rights violations but these DMO’s have tried to market the new face of Vietnam through the internet and

Rogue Trading within Bank Industry about Nick Leeson Research Paper

Rogue Trading within Bank Industry about Nick Leeson - Research Paper Example The research tells that corporate scandals can be of different types and in any kind of corporate scandals generally top executive managements are involved due to personal gains and other biasness. Corporate scandal may include the offences like frauds, insider trading, manipulation of financial statement for misguiding stakeholders, excessive compensation to top executives etc. Among these rogue trading is also a kind of corporate scandal which hurts investors’ interests. Generally, those traders who are authorized by corporate bodies as an employee indulge in such activities. The rogue trader acts as an independent trader in high risk environment. To make huge profits, such traders invest in risky financial instruments like derivatives. Here the potential of losing money is also high. Ethically responsible firms never allow such risky investments considering shareholders’ interest and business sustainability. Since the rogue trading case of Nick Leeson in 1995, there have been several instances of unethical and unauthorized trading that caused billions of losses to shareholders. The persons found to be engaged in rouge trading are charged with severe offences and have to face legal consequences. The rogue traders have taken the investments activities to the level of gambling where along with huge returns, risks are also too high. In most cases rogue traders keep doubling their bets in order to recover the previous losses without considering future consequences. The tricks doubling up the bets are quite common for them for camouflaging the previous losses with higher level of risk as by averaging down, they try to reduce the volatility. In a simpler term, when a

Political Theory Essay Example for Free

Political Theory Essay Introduction While approaching the writings of major philosophical figures in the 16th century and the 17th century there emerges several weaknesses in addition to their political thought in their time. In his work, The Foundations of Modern Political Thought, Quentin Skinner’s emphasises the ‘textualist’ approach by the ones writing within the genre of political theory and further claim that they â€Å"rarely supplies us with genuine histories†. 1 Skinner seems to engage in a ‘historical’ approach to the writings of political thought, which goes hand in hand with the social and political context of the period the major works were composed. Indeed, this proves fruitful for this analysis, and therefore it will be provided a narrow historical review of the period the works were written, in order to present the remarkable similarity between the causes of political thought. Accordingly, there will be implemented a comparison of the philosophers, Thomas Hobbes and Jean Bodin, focusing primarily of their concept of the state and the church and the differences between the two models of political thought. In terms of the state, the focus will lie on the citizens and the sovereign rule; in terms of the church, an analysis of its place within the governmental framework will be provided. The primary sources used as a basis for this analysis is the work of Jean Bodin Six Books of the Commonwealth, translated by M. J. Tooley, and Hobbes On the Citizen, edited by Richard Tuck Michael Silverthorne. In grasping the political works of Thomas Hobbes and Jean Bodin it is important to remember that their perception of the state was born in an age of crisis. As central themes of his political thought Hobbes was concerned with peace, security and order; however, religion was omnipresent throughout his experience of life and through his works. For Hobbes the only valid proposition of a natural religion was that something must have created the world, but who or what is not for certain. 2 Most important he also believed that religious division was a significant factor for the origins of war. The basics of Hobbes theory was to add the will to avoid religious conflict and restore peace into one or a group of biological people that was to further secure the will of the state. Like Hobbes, Bodin was concerned with preserving order and his relation to religion is said to be complex. Although he was less familiar with the New political from his religious thought. ’3 However, entering deeper into the religious life of Bodin it is palpable that he never adhered to one true theological standpoint throughout his lifetime. 4 Another factor of correlation between the two political thinkers is their personal historical background containing the experience of war, which largely contributed as one of their causes for writing. Most known for his work and best-seller, Leviathan, the Englishman Thomas Hobbes was to be acknowledged as an important contribution to the philosophical field in his lifetime and all the way to the 21th century. Hobbes was born in 1588 in Westport raised by his non-wealthy family, fortunately being paid for by his uncle to get an education when the time was right. 5 Entering the field of the enlightened, Hobbes at an age of 54 later produced his first claim to fame, De Cive (On the Citizen), published in Latin edition in 1642 which is characterised as one of the forerunners to his major work Leviathan. Here, it is important reconsider what is omnipresent throughout both, De Cive and Leviathan, namely fear: in order to understand his political thought. Some tend to regard Hobbes as a synonym to the concept of fear even though this impossibly cannot be so, however it does not reject King’s argument that Hobbes had experienced disorder in society and therefore feared political chaos. 6 England during the 17th century can in be referred to as a period of transformation both in terms of politics and religion. Historically, throughout Hobbes lifetime (1588 – 1679) the political circumstances in the years of 1642 to 1651 prove to stand out painted in the colour of red. The Reformation left deep traces and was not yet to relinquish as its religious struggles was to turn into a fight of power between the King and the Parliament. 7 The English Civil war provided an environment such as extreme disorder and civil insecurity to be explanatory for the horrors it brought the 6? 78? 9 # $? *: )? : ;0?. / 1 1? ! / 1? =? ? :?! ( 4 ?!! /? $ @ ( 5 JOURNAL OF PHILOSOPHICAL STUDIES,? ? = ? 1? *9/? ;6-. A=? B ;- HTTP://WWW. JSTOR. ORG/STABLE/3745504 0 , $ *3 @ 3 9 )? +? 2 ;A1. / =0 A? 8? ? 9? C D7 @ % $E $ * F;0.? //? F B -1 G/? HH222I H! H 6;0-6 3 13 Political Theory country8. In a chaotic England, Hobbes had to face his own opponents after he had written the first outline of the philosophy of the state, Elements of Law, Natural and Politic, which created an unstable environment for him to live. Indeed, adversity was for Hobbes the reason he decided to flee and choose the life in exile crossing the national boarders to France. 9 When the Civil War was over, he returned home to the end of his life, still absorbed in scientific activity. A lesser-known philosopher yet one of the most ambitious and prolific French scholars, Jean Bodin, was born in 1529 or 30 in the French area of Angers. Although living in separate time periods Bodin is born three years after Machiavelli’s death (1469 – 1527) and died when Thomas Hobbes was eight years of age and therefore spans precisely between these two. 10 Throughout his lifetime he was, in resemblance to Hobbes, to experience war that provoked his political thinking which prospered into what was to be known as The Six Books of the Commonwealth (1955). Bodin was an admirable scholar and by the time he had to face his mortal destiny he made contributions to the area of science stretching from historiography to political economy. 11 Noticeable that he was among the more enlightened characters of his time, Bodin went to Paris in his youth for educational matters studying humanities. Further curious about the juridical nature of society he went to study civil law until the 1560s, and after he turned to a political career becoming a king’s advocate in Paris. A decade later he became a counsellor of the Duke of Alencon which secured him a seat at the table of the royal family, which ceased before 1576. He then further joined the Catholic League (sometimes referred to as the Holy League) which played a major part in the French Wars of Religion (1562–98) eradicating the Protestants also called the Huguenots. 12 Primarily, The Wars involved the Catholic crown attempting to impose religious uniformity upon the large F? What further divided the citizens in contemporary France was their support for various versions of the Christian faith that created a warfare of self-righteousness, which for Bodin, was an erroneous societal condition. What Bodin’s beliefs could be said to represent at the time is further dubiously, but as Summerfield argues, Bodin might have believed that â€Å"Catholicism was the best ‘civil religion’ for his countrymen†. 13 Further, Bodin supported religious diversity in that Catholics should have the opportunity to embrace their faith just the Huguenots without having intolerance towards each other. By offering a narrow description of the historical period relevant to both Hobbes and Bodin and further suggest a biographical outlook of both philosophers, the main focus have been on the facts of importance for further analysis. Main section As discussed to some extent in Bodin’s case, it is applicable to both philosophers that they were living in a time where religion was inseparable from their political thinking. Today it may seem strange that politics of much importance was molded around religious beliefs, because we live in a time where each person is free to decide what to believe and which religion to adhere to. During the period of discussion, the church and the state had too many common interests that a division between them seemed unthinkable. For Bodin, his thought behind his Republic was the hope to restore the splendour and serve the interest of the French Monarchy, which functioned as a cornerstone in his description of the commonwealth. 14 In accordance to Hobbes, much like in the case of Bodin, his impetus of his work De Cive lie primarily in providing a solution to the religious moral conflict prevailing in 16th, 17th century England. Bodin and the family In this section, the discussion will point to Jean Bodin’s concept of the state at a micro level. In Book I, chapter I of the Republic the first sentence acknowledge what Bodin understands to be the nature of the Commonwealth, namely its internal structure being organised around the ?6? ! F1 ?1? 7 @ #? @ ( 2 7 $? *3 @ @ @ (2 )? G : ;0A. / ## 5 13 Political Theory concept of the family (or household), ruled by a sovereign power. 15 The main premise behind. Bodin’s concept of the family has its origins from the alteration of legislation in contemporary France creating a decrease of the â€Å"paternal authority† resulting in a â€Å"decay of family discipline†. 16 For Bodin this was not the ideal familial situation. In Rebublic, the household is portrayed as the essential unit of political organisation within the state and possess the same bilateral structure that there is to find in his ordering of the Commonwealth. Principally, the family consist of a man, which have the centralised authority within the household, a wife and children with the possibility for additional members like freedmen and slaves. 17 To illustrate; the authority of the father extends to a decision of life and death over his children; however, it is not as clear to why he should have this right. For Bodin, the family is vital for preserving the organization within the Commonwealth, he even describe its function using terms as â€Å"true image† of the Commonwealth and â€Å"model of right order† when writing of the household in the Commonwealth. 18 According to Bodin, the father like the sovereign, hold the absolute power within their sphere of influence: the father over the family, the sovereign over the families within the state. He was also convinced that, â€Å"Il est impossible que la Republique vaille rien si les familles, qui sont les piliers d’icelle, sont mal fondees† (husk a kildefore sitater), which reveals Bodin’s obsession with order in that the commonwealth cannot be totally organized if it is not rightly constituted and thus not performing its proper function: this can also be related to the sovereign in that his guidance is useless if he cannot unite all of his members. 19 For Bodin the family is an irreducible unit of the state, for Hobbes the matter is of a different character. Hobbes and the individual The foregoing discussion support the underlying argument in favour of the plurality needed to form the family into a harmonious and organized entity which Bodin find crucial for the ?=? ! / ?0? 78? 9 # $? *: )? : ;0?.? / 1-; ?A? 7 @ #? @ ( 2 7 $? *3 @ @ @ (2 )? G : ;0A.? / A? ?F? 7 @ #? @ ( 2 7 $? *3 @ @ @ (2 )? G : ;0A. / 0 MA ?;? 78? 9 # $? *: )? : ;0?. / 1-; 6 13 Political Theory establishment of the state, according to Hobbes there is no compelling reason to argue that such is the case. In De Cive, the family is not given a pivotal place rather he pursue a more individualistic approach in accordance to Bodin’s idea of the family. However, Hobbes thoughts of the family depends much upon the entity being in an external or internal position relative to the commonwealth and if the family is being ruled by a foreign power or not. 20 As. King argues, Hobbes is in a lesser degree concerned with the family’s position within the Commonwealth, in any case it is the process that one is being born as individuals connected to others by force and fear, or for Bodin which emphasise individuals being born into families, that is the central feature. 21 In addition, they differ in that Bodin think of the ascendancy of the sovereign as originated solely coming from the families but for Hobbes it is originated from individuals as a whole. The literature gathered in this study suggests that both Hobbes and Bodin agrees that the state must exist in order to prevent war. The Hobbesian view of the state is founded in his definition of the natural state. The state of nature is for Hobbes a state of anarchy, where egocentric individuals fight for their right of self-preservation creating chaotic circumstances and where mutual fear is their leading motivation. Hobbes believed that the mankind maintain a will of doing harm to others, and that this derives from the need to defend their own property and liberty against others in a state of anarchistic rule. The moral dilemma that occur in the state of nature has for Hobbes only one escape route, and that is the presence of a sovereign power, either in singular or plural form chosen by the objective will of the people due to pull them out societal chaos and secure for them peace and order. Indeed, for Hobbes the sovereign is of crucial importance: â€Å"For if this power is abolished, the commonwealth is abolished with it, and universial confusion returns. †22 For Bodin the goal of peace and order is much in line with Hobbes’ but it does not involve a social contract as such but it thus involve a conception of fear. In Book 4, ch. 1 he describes ?- ?!! ! # $ ?!! % ? (? ) *+ , ! + $ . / -A? M 1 , $ *3 @ 3 9 )? +? 2 ;A1. / F1 ?!! ! # $ ?!! % ? (? ) *+ , ! + $ . / F? 7 13 Political Theory the rise and fall of the commonwealth where he acknowledges that â€Å"the commonwealth can be founded either in violence or in consent. †23 As much as this resembles Hobbes in that disorder is the catalyst for the development state, Allen provide us with a more applicable explanation. He argues that since the interdependent relationship between the sovereign and the state is present, the realization of the sovereign may be impelled by fear, which therefore result in a state being established by force. 24 On the other side, what seem to resemble the two is the necessity of a sovereign to guide the people. On these grounds, it is clear that Hobbes and Bodin follow a hierarchical structure in terms of the relationship between the superior and the inferior and that â€Å"command and obedience† is the central feature. On one side the similarity between them lie in their use of fear and consent as essential factors for the rising of the Commonwealth. Here, Professor Dunning offers an interesting claim placing emphasis on the contract idea that Hobbes present. He suggest that in contemporary France the social contract was for Bodin more a weapon of his opponents, which in its turn inclined him to focus on the state as a model evolving out of the inherent characteristics of the man and his surroundings. 25 On the other side the philosophers tend to differ in that Bodin support the idea that the sovereign should rule over the families and Hobbes believed in the individualistic characterisation of the social contract. Moreover, who are the ones (person or group) that should rule over the families featuring Bodin and the individual’s characteristic of Hobbes? The sovereign To portray the issue of the nature of sovereignty, Hobbes like Bodin believed, that in order to prevent war absolute power placed in single or plural entity was necessary. Within the sphere of political theory, The Republic could be said to contain the first fully developed theory of sovereignty, however one could argue that Marsiglio of Padua was the one close enough to find all the elements of the subject but where there occurred gaps, Bodin was to fulfil these perfectly. 26 In case of his descendant, it would be absurd to assert that Hobbes followed his forerunner slavishly. ?6? 7 @ #? @ ( 2 7 $? *3 @ @ @ (2 )? G : ;0A.? / -; ?1? 78? 9 # $? *: )? : ;0?.? / 1 ?=? 8? ? 9? C D7 @ % $E $ * F;0. //? F B -1 G/? HH222I H! H 6;0-6 8 13 Political Theory Bodin’s theory of a â€Å"commonwealth is normally taken as the starting point of modern times† and this because of its clear composed nature of the rights and power of the sovereign. 27 His definition of sovereignty in the Republic was written as an entity holding â€Å"absolute and perpetual power vested in a commonwealth†. 28 Here the power is not only absolute, but perpetual at the same time, nonetheless he is careful not to use this definition outside its theoretical field of use, he further states; â€Å"For if one confines to that which has no termination whatever, then sovereignty cannot subsist save in aristocracies and popular states, which never die. †29 The central point here is that Bodin agrees to an unlimited and despotic government but without taking the concept of perpetuity too far. His theory of sovereignty is based on the nature of absolutism and it is clear that he was a champion of monarchic absolutism and preferred that it should be invested in a single prince; whereas Hobbes share his concern but differ in that he was inclined to apply this to a collective group of people. For Hobbes the King and commonwealth is intertwined, in that one cannot talk about the one of them from the other. He comprehend the sovereign as withholding the will of the citizens consisting of absolute power; â€Å"the greatest power that men can confer, greater than any power than an individual power can have over himself. †30 In accordance to the legislation within the Commonwealth both Hobbes’ and Bodin’s sovereign is able to make his own laws, which also extended to the fact that he is not subject to it. For Hobbes the thought of the King to be subject to the Commonwealth and law would be irrational, the Sovereign is the embodiment of the Commonwealth. The sovereign is therefore not bound by obligations towards his citizens and if the sovereign is to act immoral, that is a matter between himself and God. As it has been important to discuss citizens role within the state and their relationship to the sovereign making it easier to fully understand the means of absolute power, it is also ?0? 7+:? 2 7 @ N O: $N POLI? CAL STUDIES 0 //? -0M ?A? 7? : ( $? ) $ *L? 2? P ( @ )? / $ ;.? / A ?F? 7 @ #? @ ( 2 7 $? *3 @ @ @ (2 )? G : ;0A.? / =? ?;? ! / 0 6- ?!! ! # $ ?!! % ? (? ) *+ , ! + $ .? / F? 9 13 Political Theory important to take this with us when we shall now discuss the church and how the state is related to it. The church An interesting question arise when one should determine, in a time where religion was almost too present, where the authority of the church lay within the spheres of the absolute rule. Religious upheaval in France and England in the 16th, 17th century had its origins from the breakup of the mediaeval church that destroyed the framework of older forms of political thinking. As long as there was a universally recognized Church the possibility to practice a unilateral faith was possible, but to place this authority under the prince may have been an impracticable demand. When there later came a time of religious uncertainty and the development of a new faith, people was faced with the opportunity to choose which in its turn lead to confusion. The hierarchy of the Catholic church and the Church of England and France had both claimed that their authority comes directly from God and that they was set out to practice the faith of the nation: as a rebuttal to this point, it might be argued that the political thought of both Bodin and Hobbes was not to find a fertile ground in this statement. Chapter XVII of De Cive constitutes the argument of the relationship between the sovereign and the Church stating that any authority given from God has its place within the sphere of sovereign power. For Hobbes absolute ecclesiastical power was vested in the sovereign, which included the right to interpret the Holy Scriptures. 31 One could argue that Hobbes needed an absolute sovereign as the solution to the problem of war: if the sovereign had the absolute authority of the Church and over the citizens, war would have been unproductive because no one can challenge the ruler, achieve results and further depose him. If the church would go against the sovereign it would go against the religious power of the state which would seem illogical, and in case of the citizens they do not have any authority to bring down the King because he is appointed upon a social contract representing the will of the people. On logical grounds there seem a compelling reason to argue that the law of God has a fundamental place within the political thought of Bodin. He does not tend enlarge upon the place of religion within the sphere of politics within the Republic in contrast to Hobbes who 6 ! / ;; 10 13 Political Theory has a whole section devoted to the concept of religion, however it is clear that he never meant that the state was forced to establish a form of religious and demand conformity to it. 32 Rather he meant that the state must create the soil from with religion could grow, therefore it is safe to say that the Church had a place within the state and that with this it followed religious duties. Hobbes had a different view on the ecclesiastical power of the state than Bodin; â€Å"the Commonwealth and the Church (are) of the same Christian men† and â€Å"exactly the same thing under two names. †33 Further Hobbes says that this synonymity rest upon the common feature between the two, the Christian people, and that the two instances is the only one to gather them. Personally, Hobbes was an erastian; he believed that the state should rule the Church. For Bodin. Religion created obedience that form the basis of his version of the commonwealth. The sovereign is the voice of the Church, but his determination of practicing the religious faith is relative and rest upon his will to make it flourish or not. Indeed, in the Rebublic the word of the sovereign â€Å"should be as sacred as a divine pronouncement. † 34 Conclusion Throughout this analysis the attempt to create a fertile discussion of the nature of the state and its place in relation to the church have been central, which have been built upon the effort to create a narrow historical review in the wide field of history. There have also been provided an discussion of the similarities and differences between Thomas Hobbes and Jean Bodin within the selected themes of this assignment. What is clear is that one cannot simply divide 6? 7 @ #? @ ( 2 7 $? *3 @ @ @ (2 )? G : ;0A.? / ## 66 ?!! ! # $ ?!! % ? (? ) *+ , ! + $ .? / 617 @ #? @ ( 2 7 $? *3 @ @ @ (2 )? G : ;0A.? / 6-? 11 13 Political Theory politics from religion in a time where they were inseparable, like one cannot divide Bodin’s idea of the family and Hobbes’ concept of the individual without removing the cornerstone of their theories. Both philosophers tried to provide the best solution to their contemporary struggles in France and England, and in case of their theory of absolute sovereignty it can be said their impetus was to lead the way out of the labyrinth of war with peace as their rewarding result. Both theories have portrayed a hierarchy of power, where God has the solemn authority and the earthly sovereign is positioned as subject to him but holds the right to interpreter of the faith of the state making him more or less the mouthpiece of God. Built upon this statement the Church has a duty within the state: it is just reliant on the degree of initiative practised by the sovereign in Bodin case and for Hobbes it is more a matter absolute affiliation to the religious role that the sovereign holds. To conclude, even though Bodin and Hobbes had different starting points, went by different routes they more or less reached the same goal placing the political and religious within the hands of the absolute sovereign List of references Allen, J. W. Political Thought of the Sixteenth Century. London: Methuen Co Ltd, 1961.Franklin, Julian, H. International Library of Essays in the History of Social and Political Thought: Jean Bodin. England: Ashgate Publishing Limited, 2006 12 13 Political Theory King, Preston. The ideology of order. Great Britain: George Allen Unwin, 1974 Laski, Harold J. The Foundation of Sovereignty and other writings. New York: Harcourt, Brace and Company, 1921 Lewis, J. U. , â€Å"Jean Bodin’s ‘Logic of Sovereignty’†, Political Studies 16 (1968): pp. 206 – 222 Lubienski. Z. â€Å"Hobbes Philosophy and Its Historical Background†, Journal of Philosophical Studies vol. 5, no. 4 (Apr.1930): 175 – 190, http://www. jstor. org/stable/3745504 Skinner, Quentin. The Foundations of Modern Political Thought: Volume 1, The Renaissance. Cambridge: Cambridge University Press, 2002 Summerfield, Baldwin, Jean Bodin and the League, The Catholic Historical Review, Vol. 23, No. 2 (Jul. , 1937), pp. 160-184 Tooley, M. J, trans. Jean Bodin: Six Books of the Commonwealth. Great Britain: Basil Blackwell Mott, Ltd, 1967 Tuck, Richard Silverthorne, Michael, ed. Cambridge Texts in the History of Political Thought: Thomas Hobbes On the Citizen. United Kingdom: Cambridge University Press, 2000 ?

Organizational Output of Pfizer

Organizational Output of Pfizer Organizational Output Introduction Output generally refers to the things produced. output, in terms of the production unit means total number of products generated for a given duration and the various cost associated with the production. Outputs also refer to the number of customers visited in a given time. The organization needs to become accustomed, if there is a decline in the output of the organization due to alteration in the external or internal environment. Key outputs Key outputs of the Pfizer include opening of Manufacturing facilities, New innovative products And financial outcome (Pfizer Inc Third-Quarter 2004 Performance Report, 2008). Manufacturing facilities: Pfizer Inc, the giant in Healthcare opened its manufacturing facility in Singapore of about $600. This investment will support the extensive plans of the companys operations. In Asia, this investment has made the Pfizer important active pharmaceutical ingredient manufacturing plant. It is an entirely automatic facility. This facility in Singapore will prove to be an important link in manufacturing and developing dynamic ingredients that will be used in Neurontin. For tablets and capsules production, these ingredients are used and are transported to the drug product plants. The output obtained by the manufacturing plant will promote the global sales of about many billion US dollars. Pfizer selected this particular place because of well established corporate information technology unit (Kotler, 2002). From an American-intensive chemical manufacturing company, Pfizer has shifted to a global research based pharmaceutical business. As a result, it has become the worlds biggest healthcare company based on research. Products: In 2007, the company performed extremely well and made such changes that have enhanced its future performance. Lyrica, Sutent and Chantix played a Key role and performed extremely well. Currently Pfizer has ten dissimilar divisions and encourages thirty-one diverse main products. Within each groups, the divisions and major products are: Cardiovascular and Metabolic Diseases, which includes Lipitor, Caduet, Norvasc, Diabetes, Arthritis and Pain, Central Nervous System Disorders, Infectious and Respiratory Diseases. Apart from this, Pfizer have six products that are into the pipeline of RD. Financial outcome: In 2007, the company reflected strong financial performance. The company focused on constructing the value by attaining the financial goals, restricting spending, and maintaining the cost structure. In order to deliver the vast shareholder return, new program is approved by Board of Directors. Apart from this, the company announced an increase of 10% in the first-quarter of 2008. This has increased the share holder wealth. In the fourth-quarter of 2007, Pfizer showed revenue of $13.1 billion and in the year-ago quarter; it reflected an increase of 4%. Foreign exchange has a great impact on revenue of Fourth-quarter 2007. Apart from this, there is an increase in the second quarter revenues. In 2005, Pfizer showed a net income of $8,085 million, this reflected a decline of 29% in 2004. The company has the huge budget allocated for RD. It has strong predictable cash flow in the next thirty months. Last but not the least, Pfizer shows a stable EPS growth (Organizationa l Culture and Product Innovation, 2004). Relevance of these outcomes in my study These outputs play an important role in estimating the company’s strength and achieving its long term objectives. Apart from this, these also support the extensive plans of the companys operations and increase the shareholders’ wealth. Innovative products can bring huge profits for the company, since they will attract the consumers. New product development is the strong capability of the Pfizer due to its determination, focus and dedication to research. Pfizer is becoming financially secure because of the company’s strong endeavor for developing the new innovative products. Hence, these form the important part of the study. Interrelation between the outcomes All these outputs can not operate independently; they are interlinked to each other. To develop innovative services and products is a critical issue for any company and it determines the level of financial outcome that the company will receive. If the company plans to open the manufacturing facilities, it has to see the scope for the new innovative products. Company will try to find out the success rate it will obtain by opening the new facilities. Financial measures are taken as the lagging indicators that derive the outcomes from precedent actions. Restricted reliance on financial indicators will lead to the behavior that forgoes long-term creation of value for short-term performance. Hence, proper estimation of the financial constraints is important. To expand the company business the company needs to be sound in its financial policies. Greater the financial outcome greater will be the company’s strength. Innovative products have the capability to secure the company financially. In the pharmaceutical industry, product market is getting saturated and forcing the company to spend a huge portion of budgets on differentiation of product and in the marketing activities among the competitors. Synergies created by the output Positive synergy is created by these outputs. If they are properly aligned, they can yield to a huge profit. The proper investment in any field is precious because the firm gets the opportunity to take the advantage of new opportunities, which can derive the continuing development for the company. The total budget assigned for the development of new products by the company is the highest in the industry and can not be imitated by the competitors. Hence, development of new product development is exclusive and valuable to the organization. For this, the company uses the patent and license. New product helps in acquiring strong product portfolio. Proper financial investment in sales force plays a critical role as it determines the company’s strength in terms of profits and revenue. This example was found in the products such as Stutent and Lurica. The company’s internal process should be in line with the Pfizer external functions and must focus on the reorganizing procedur es and processes so as to develop the efficiency in the operational activities to achieve a competitive advantage by spending fewer amounts. On the other hand, huge problems can arise if there is lack of proper coordination between these outcomes. All the outcomes are interlinked, so if they are not managed properly, they can put the company in trouble. Therefore, development of facilities requires huge research. And for this, company is required to properly allocate the resources to all the departments. Major chunk of revenue is used in the research and the development. If any wrong decision is taken related to the development of new product without undergoing through analysis, the company can incur the huge financial losses, which will ultimately hamper the trust of the various stake holders of the company. If any strategy is missed out, it will lead to the space for the substitute products; for this, the company has to incur heavy loss. Therefore company should take the proactive steps in order to defend the competitors. For this, the in depth analysis is required by the company. Therefore, efforts of all the departments in a coordinated manner are required (Kotler, 2002). References Kotler, P. (2002). Marketing Management: Strategies of Pfizer (11th Edition). New Delhi: Prentice Hall of India. Organizational Culture and Product Innovation. (2004). International Business Review 13(6): 685-703. Pfizer Inc Third-Quarter 2004 Performance Report. (2008). Retrieved April 28, 2008 from http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104STORY=/www/story/10-20-2004/0002289038EDATE= Pfizer: A healthy business vision. (2004). Retrieved April 29, 2008 from http://www.edb.gov.sg/edb/sg/en_uk/index/news_room/publications/singapore_investment04/singapore_investment10/pfizer_a_healthy.html

Tata Motors losses

Tata Motors losses Can Tata Motors capture and increase its market share in India through the launch of Jaguar and Land Rover? Introduction: My commentary examines the recent acquisition of Tata Motors of two iconic brands- Jaguar and Land Rover from Ford Motors at a staggering amount of $2.3 billion. Despite being well known brands, they are suffering losses. After Tata Motors take over, they were strategizing to launch these products in the Indian market which has huge growth prospects. The real challenge was in these brands attracting customers away from rivals in the Indian market. Simultaneously Tata Motors has launched Tata Nano to capture the Indian market for small cars. This will be reinforced by launching light- weighted aluminium and hybrid cars from Land Rover. With help of SWOT, Ansoff Matrix and Asset led Marketing my commentary will examine how successful will be the launch of Jaguar and Land Rover cars in India. SWOT Analysis: SWOT analysis is a useful decision-making tool that is used to assess the current and future situation of a product, brand, company, proposal or decision. It considers both internal and external factors that are relevant to the issue under investigation.[1] Strengths: The acquisition of the two global brands- Jaguar and Land Rover acts in a crucial way to increase and develop the brand reputation and the quality of products for Tata Motors. It provides plenty of opportunity to the Indian consumer and the developing Indian automobile market can also help the launch of brands in the long-term. It can reap economies of scale through component sourcing and low cost engineering. Weakness: With different product portfolios for both brands it will be a challenging task ahead to market the same in the price sensitive Indian market. But this could be overcome through proper market research. Another concern is the diminishing image due to the continued losses and a de motivated work force due to the change in management. With right training and incentives and proper marketing strategies the company can convert these negatives to strengths. Opportunities: This launch is a great opportunity for the Indian customer and target the growing Indian market. Automobile market is developing in India and placed with launch of Nano, Tata Motors will be in a good position capture a larger share of the market. Threats: Increasing fuel prices combined with global meltdown will be a challenge for the company to stay afloat and over come the losses. In addition the strong competition can threaten the expected sales of the company. However the inherent financial and managerial strength of the conglomerate should be able to let the company withstand the challenges and move ahead. A danger that remains is that with the new ownership international brand loyalties may change and customers may move towards other models in the market. Ansoff Matrix: The Ansoff Matrix is an analytical tool that helps managers to devise their product and market growth strategies. It consists of four growth strategies namely- Market penetration, Market Development under new and existing and markets AND Product development, Diversification under new and existing products.[2] Diversification It refers to the high risk growth strategy that involves a business marketing new products in new markets. Parent companies can benefit from having a presence in a range of products and markets in different regions of the world.[6] Market Penetration- Tata could continue with the same strategy that it had adopted for the UK for the rest of world. The estate, coupe and open saloon models of Jaguar and the Freelander and Range Rover sport of Land Rover selling in the existing markets UK can help them to gain profits and increase in sales in other markets due to the reputation of the brands. For the new models that are planned to launch, promoting and advertising can be a good choice for the firms to maintain their position in the market and to attract more consumers and build customer loyalty. Tata Indica and other commercial vehicles like Tata Ace are examples of Tatas market penetration strategy that exist in the existing markets and are still earning them great profits. Product Development- Tata Motors are launching the smallest car the famed Tata Nano in the Indian markets which is a new product by the firm and launched in existing markets of India and other countries where Tata Motors operate. This car can be useful for the firm as they can easily generate profits through this product as well as their brand name. Also, the firm can compete with other businesses in the same market with the help of these products. Tata Starbus and Tata Xover are other new products that have been launched by Tata Motors in India and other existing markets of Tata Motors. Diversification- The new products planned by Tata Motors through the Jaguar and Land Rover brands can be categorized in diversification. The company plans of manufacturing hybrid, electric and bio-fuels based and environmental friendly cars with the help of latest technology through both of these brands which can be useful in boosting the brand image of the firm. Also, there may be an increase in the profits of the firm as the hybrid cars are said to be the future of automobiles in order to save the earth from pollution. These new products launched in the new markets of India and others can be termed as diversified strategy of the firm. Tata Nano can also be included in this strategy as it is also a new product and is planned to be launched into new markets of African and Asian countries. Asset led marketing: Asset led marketing is a strategy that is adopted by the business for the sales of their products or services. Here, the firm uses its intangible assets for introducing a new product in the market. Tata Motors is a well-established and well-known firm and a part of the parent company Tata and Sons. Thus, in order to launch its products or services in the market and start off with immediate sales and profits, Tatas can use this which may even be applicable for launching the two automobile brands. Tata Motors have been in the news for past several months due to the launch of the worlds cheapest car in India- Tata Nano manufactured by their own company. Simultaneously launching two brands can help Tatas in gaining a lot of customer attention and thus a larger customer base. The well established and elegant brands with the giant prestige of Tata Motors can help the firms in garnering huge amounts of profits and gaining control over their competitors. Evaluation : The biggest advantage of this acquisition is that the firm might see an increase in sales of the cars due to both firms worldwide luxury brand reputation and also due to the services and quality provided by the cars. But at the same time, the number of competitors in the booming automobile market of India has increased and finding their way out to satisfy the customers with different marketing strategies can be very costly for the firm. Tata Motors can implement various strategies such as advertising and also, various schemes can be used which guarantee consumer satisfaction and can also prove to be a part of customer attraction. These strategies can prove to be useful in boosting the brand image and the sales of the company as well. Short- term problems faced by the firm may be the recovering of the costs that has been put into the acquisition and the launch of Jaguar and Land Rover cars. The high manufacturing costs of Tata Motors, Jaguar and Land Rover might prove to be another reason for the losses in the accounts of the Tata Motors. The long-term problems can be an increase in competition as the Indian automobile market is developing at a rapid rate. If the company suffers losses, then there might be the need for job redundancies, thus leading to worker de-motivation. Conclusion: To conclude, the acquisition of Jaguar and Land Rover brands may be risky due to the global slowdown but Tata Motors with its brand name and established presence in India can succeed in the long run. Tata Group, a huge multinational giant worldwide can capitalize through cross-subsidization. I think that by promoting the products and launching it along with Tata Nano will be useful as each can be a backup for the other in the future. The workforce can be motivated through good learning experience as they may have access to the technology used in manufacturing these premium cars but at the same time, if the products fail to create a mark on customers, the workers may feel insecure as job redundancies may be adopted by Tata Motors to struggle with their own financial portfolio. Bibliography- 1. http://uk.reuters.com/article/idUKTRE55R0LK20090628?pageNumber=2virtualBrandChannel=0 2. http://www.autoblogs.in/2009/06/tata-jaguar-land-rover-launch-india.html 3. http://free-sms-mms.blogspot.com/2009/06/tata-jaguar-land-rover-launched-in.html 4. http://www.zeenews.com/news542730.html 5. http://sify.com/finance/fullstory.php?id=14790692 6. http://www.businessworld.in/index.php/In-The-News/Rough-Roads-Ahead.html 7. http://business.outlookindia.com/inner.aspx?articleid=1225subcatgid=611editionid=36catgid=44 8. http://www.tata.in/media/reports/inside.aspx?artid=r8CuZiHSZ2o= 9. http://money.rediff.com/companies/tata-motors-ltd/10510008/profit-and-loss 10. http://www.moneycontrol.com/financials/tatamotors/profit-loss/TM03 11. http://www.moneycontrol.com/financials/tatamotors/balance-sheet/TM03 12. http://www.moneycontrol.com/financials/tatamotors/ratios/TM03 13. http://en.wikipedia.org/wiki/Tata_Motors Appendix- SWOT: Strengths-  · Jaguar and Land Rover have a respected brand image in the global markets for their luxurious cars.  · A good move for Tata Motors to enter the luxury market.  · A global visibility for the owner of the company as a sprawling conglomerate.  · Benefits from component sourcing, design services and low cost engineering.  · A good learning experience for the workers. Weaknesses-  · Both brands have a vast and a different product portfolio.  · Unavailability of premium auto parts at the Indian auto parts suppliers and thus, the need to import.  · Diminished corporate image of the brands due to massive losses in the past few years.  · De-motivation of workers due to redundancies and job cuts Opportunities-  · Opportunity for the Indian customers to have near access for driving premium cars.  · India is a developing automobile market and thus, a useful step for the long term.  · Simultaneous launch of the Tata Nano and other models can generate higher profits and develop their control on both the upper and the lower and middle class market.  · Range of products with different prices helps them to diversify.  · Reinforcement of globalization. Threats-  · Negative impact on the car sales of the brands due to economic meltdown and global recession.  · Lead to value-destruction due to lack of synergies and high-cost operations.  · Prohibition of establishing a stronger market base and increasing sales due to the number of rivals such as Audi, Mercedes, Porsche, BMW, Lamborghini.  · Increase in fuel prices.  · Shifting brand loyalty due to change in ownership Ansoff Matrix- Existing product New product Existing market Market penetration This strategy mainly applies for those businesses that focus on selling existing products in the existing markets. It is a low- risk strategy and helps to increase the market share of its current products.[7] Product development This strategy involves businesses aiming to sell new products in existing markets. This strategy is also a reason for acquiring another company as the costs of starting another company can be saved and different types of customers can be catered. This strategy is also useful for businesses using brand expansion strategies.[8] New market Market Development This method serves for those businesses that apply the strategy of selling existing products into newer markets.[9] Such techniques are used by businesses that plan to expand their business and attain higher customer base. Diversification It refers to the high risk growth strategy that involves a business marketing new products in new markets. Parent companies can benefit from having a presence in a range of products and markets in different regions of the world.[10] MUMBAI (Reuters) Tata Motors (TAMO.BO), Indias largest vehicles maker, on Sunday announced the launch in India of Jaguar and Land Rover vehicles, the marquee brands it bought from Ford Motors (F.N) last year. Saying it was a momentous occasion for the company, chairman Ratan Tata said, This is in keeping with our desire to extend the penetration of the brands in India. The automobile firm, which controls about 60 percent of the worlds fifth-biggest truck and bus market, will soon also be rolling out the Nano, billed as the worlds cheapest car. Jaguar is launching the XF amd XK range of luxury coupes and convertibles in India starting at a price tag of 6.3 million rupees (79,000 pounds) and going up to 9 million rupees. Land Rover will initially be launching three vehicles including the Range Rover Sport and Land Rover Discovery 3, with prices also starting at 6.3 million rupees but going beyond 9 million. The luxury car market in India is very small, but there is a huge opportunity there. It is growing fast and we expect it to grow fast over the next 5 to 10 years, said David Smith, chief executive of Jaguar Land Rover. India is an important part of our plans for the future, said Mike Driscoll, managing director of Jaguar. The luxury car segment in India is less than 1 percent of the total car market there.Continued On Friday Tata Motors posted its first loss in eight years at $520 million (315 million pounds) for the year to March 2009, with its Jaguar Land Rover unit reporting a loss of 306 million pounds in the 10 months of the fiscal year to March 2009, as a brutal global recession crippled car sales. On the issue of loan guarantees for JLR, Tata said, we are in discussions with the U.K. government on the loan guarantees and hopefully we will find a solution for it and our funding plan for JLR will progress. The company is seeking guarantees for the 340 million pounds loan sanctioned by the European Investment Bank and other loans from U.K.-based commercial banks. It is seeking these funds to develop new and more fuel efficient cars for improving its competitive position. Sustaining the downturn is important for us and finding a solution (for the loan guarantees) is extremely important to us, Tata said. He also said that if there was a large financial package from the U.K. government for Jaguar and Land Rover then, there should be commensurate level of representation from them, which had to be negotiated and worked out. An ill-fated, two decade-old strategy is about to end. When Ford hands over the keys to Jaguar and Land Rover (J-LR), it will end its troubled journey with the high-performance premium car brands, which have failed to pull in expected profits despite large investments. Tata Motors is expected to finalise a deal for the two companies for just over $2 billion. However, recent reports indicate that the price might be higher than previously thought. Tata Motors is said to be looking for financing worth $3 billion to fund the deal. The Financial Times reports that Tata Motorss advisors on the J-LR deal, JP Morgan and Citigroup, have received instructions to arrange for funding from banks. What worries investors is that Tata Motors may be stretching itself. This is a critical year for the company. In January, Tata Motors introduced its ultra-cheap car — Nano — to heavy national and global interest. It simultaneously launched a new platform for the Indica, its best selling passenger car. Later this year, it will also launch the World Truck, a project that has been under development with South Korean subsidiary, Tata Daewoo. â€Å"Investors have not taken this deal positively as it will put a lot of pressure on Tata Motors highly leveraged balance sheet,† says Aniket Mhatre, an analyst with financial services firm, Prabhudas Lilladher. â€Å"Also, the Nano wont be profitable for at least the first two-three years. The combined effect is expected to put pressure on Tata Motors margins and profitability.† In January, shortly after Tata Motors was made the preferred bidder for J-LR, credit rating firm Crisil downgraded the companys long-term debt ratings to a ‘negative watch. It said that the deal would be challenging for Tata Motors as a significant portion of combined revenues would come from two newly acquired companies where Tata Motors had â€Å"yet to build and demonstrate capabilities†. The companys stock has dropped 7.9 per cent to Rs 702.65 per share on the year to date. Future Strategy What happens next depends on how well Tata Motors can handle the acquisition and service the considerable debt it will assume. The group is known to retain the services of the current management team after taking over companies. This is exactly what happened when Tata acquired Spanish bus makers Hispano Carrocera and South Korean truck makers Daewoo Commercial Vehicles. Tata executives have likely already approached Jaguars top management team to secure their services beyond the acquisition. The Tata Groups reasoning is that it avoids the hassle of new managers having to learn the ropes. Employee morale also stays high as workers stick with bosses they trust. Still, some Tata Motors executives will definitely be sent to the UK to integrate the finance and business operations of the two companies. Tata has also promised it will not tamper with Jaguar and Land Rovers business plans, made by Ford up to 2011-12. This means that no employee will be fired and no plant shut down, even if these are a financial burden. Scheduled roll-outs for Jaguar and Land Rover are also likely to carry on. â€Å"Ford has plans of launching a number of new models for the J-LR combine,† says Mhatre. â€Å"[These] are expected to do very well in their respective markets. It could provide the much needed boost to Jaguars profitability in particular.† Ford has also secured components from suppliers over the medium term. Tata Motors will enjoy this benefit as it will buy it time to integrate J-LR operations into its own extensive community of lower-cost suppliers, which include around 20 auto design studios, steel units and various component makers. Chairman Ratan Tata also assures that Jaguar and Land Rover will not be re-badged as Tata vehicles. Jaguar dealers were disappointed when they realised that the once-legendary British brands would now be owned out of India. â€Å"For the European market, Tata Motors has a ‘truck-manufacturer image,† says Mhatre. â€Å"Consumers may consider shifting their brand loyalty to competitors in such a scenario.† That is why Tatas decision to not tamper with Jaguar and Land Rovers â€Å"character† will be important. It is also consistent with moves from past acquisitions. Trucks sold in Daewoos native South Korea do not bear the Tata badge. That emblem only appears on vehicles where the Tata brand is more well-known than Daewoo, such as markets like South Asia or Africa. BRAND POWER: Jaguar and Land Rover will not be re-badged as Tata vehicles What Tata Gains The most obvious benefit for Tata Motors is the technology it will now have access to. Both Jaguar and Land Rover use advanced technology and design and production techniques to churn out their vehicles. These include the use of lighter materials such as aluminium as well as considerably more advanced engine and transmission technologies. â€Å"Land Rovers SUV technology [in particular] could be useful for the Tatas current products in the segment,† says Yezdi Nagporewalla, National Industry Director (industrial markets) at KPMG. Then theres green tech. At the ongoing Geneva Motor Show, Tata Group Chairman Ratan Tata said that he was interested in producing green cars. â€Å"We are very keen and†¦ are looking at working on vehicles that run on biofuels, electric vehicles and hybrid fuels,† he told journalists. Land Rover already has one hybrid concept — the LRX — and says it would invest  £700 million in the development of sustainable technology over the next five years. Finally, and perhaps most importantly, the two brands will give Tata Motors a foothold in the luxury space. This means that the company will have a readymade offering in every car segment from ultra-cheap (the Nano) to utilitarian (the Indica) to commercial vehicles (Ace, World Truck) to SUVs (Sumo, Safari and Land Rovers) and, finally, to premium, high-performance cars (Jaguar). The fact that it can literally buy premium brands off the shelf means that it wont have to invest its own time and money to catch up with high-end technology. This is exactly what has put car makers such as Honda or Toyota at a disadvantage in the premium segment in markets such as the US. For the moment, it is unclear whether Tatas gamble will work. $2 billion is a lot of money and, if the analysts are right, Tata Motors may not be in the best position to pay it all back. Still, the Tata group is arguably one of the most professionally managed corporate houses in the country, if anyone can pull it off, they can. Bibliography- http://www.businessworld.in/index.php/In-The-News/Rough-Roads-Ahead.html 3. Tatas to launch Jaguar, Land Rover on June 28 Last updated on: June 18, 200910:23 IST Indias [ Images ] tryst with luxury brands takes a new turn on June 28,when Tata Motors [ Get Quote ] unfurls its marquee brands, the Jaguar and Land Rover [ Images ], in its home market. The cars will be launched just weeks before Indias first global brand, the ultra-cheap Nano [ Images ], hits the road in July. Tata Motors acquired the luxury vehicles from Ford [ Images ] Motor Co for $2.3 billion in March last year. This is the first time globally that Jaguar and Land Rover will debut together. After Mumbai [ Images ], the imported cars will drive to Ludhiana and Bengaluru [ Images ]. The Jaguar will roll out five models including the XJ, XX, and XF. Two models of the Land Rover will available. Tata Motors declined to reveal the first year sales targets for its new offerings. But a senior Tata manager said they will be number a few hundreds. In the United Kingdom, the Jaguar largely sells four models: Estate, saloon, open-top and coupe. The hot selling Land Rover brands overseas are the Range Rover [ Images ], Defender, Discovery and Freelander. JLR will be the first luxury cars from the $83 billion Tata conglomerate although they had a joint venture with Mercedes [ Images ] nearly a decade ago. While the Jaguar gives Tata Motors a toehold in Indias premium car segment, the Land Rover completes its SUV range which includes the Sumo. The JLR launch comes at a time when Indias luxury car market has belied the downturn. Global brands like the Rolls Royce, BMW [ Images ], Audi, Porsche, Lamborghini, Maybach and the Bentley have made India their coveted destination in the last couple of years. Last year, Mercedes announced that it will invest Rs 250 crore (Rs 2.5 billion) to set up its first fully-owned production facility in India. Its first plant in Pune was leased from Tata Motors. Even as compact cars clog Indian roads and drive over two-thirds of the 1.5 million auto market, the high margin luxury cars are a status symbol amongst Indias rich. Ludhiana, for instance, is the Mecca of luxury cars, auto makers say. India now has its very own luxury brands. Tatas Takeover of Jaguar and Land Rover: Bumpy Road or Smooth Ride? Published: April 03, 2008 in India [emailprotected] Will the acquisition of Land Rover and Jaguar be a smooth ride for Tata Motors? That is the question that many observers have been asking since the Tata Group and Ford announced their $2.3 billion deal at the end of March. The takeover has been greeted with jubilation, especially in India, because of the prestige of these marquee brands. On the other hand, skeptics have also been wondering how this acquisition fits in with the Tata Groups overall strategy. What can the Tatas do differently than Ford to ensure that the acquisition pays off? What major challenges will Tata Motors face in integration and marketing? To help make sense of these issues, India [emailprotected] spoke withJohn Paul MacDuffie, Wharton management professor and co-director of theInternational Motor Vehicle Program, andHarbir Singh, Wharton management professor and co-director of theMack Center for Technology Innovation. An edited transcript of the discussion follows: [emailprotected]:Lets start with the question that is on everyones mind. Does this deal make economic sense? MacDuffie: Its a very fascinating deal. Its clearly not a deal that is trying to build economies of scale in just one business and just reach into new markets. Its quite a differently motivated deal. For Tata its not the first time that theyve reached for a brand with some prestige value as part of expanding their global visibility. So I think viewed as an acquisition that they intend to learn a great deal from, it could very well make sense. The exposure that the Tatas will have to the high end of the auto business, which they know very well at the domestic end, and to the managing of this very prestigious brand I think could offer a lot of learning opportunities. [emailprotected]:Harbir, just to follow up on the same issue, the Tatas have the Indica, and they also recently launched the Tata Nano, the famous one lakh rupee car, or the $2,500 car. Do brands like the Jaguar and Land Rover really fit in with that overall portfolio? Whats your sense of the fit? Singh: My sense is that the Tatas are trying to expand their portfolio in general and they are trying to offer [various brands]. I dont think its a question of the customer viewing Nano, and Jaguar and Land Rover as all offerings of the same company. Its much more a question of like Louis Moet Hennessy having a set of brands and really doing the best you can for Land Rover and the best you can for Jaguar. In terms of the economic sense of the transaction, I think another way of looking at it is: Whats the replacement value of those brands, right? And clearly whatever price they pay is much lower than the replacement value. So the real challenge here for them is to make sure that they can enhance Jaguar in its own terms and enhance Land Rover in its own terms. [emailprotected]:John Paul, do you agree? MacDuffie: Yes. Ford of course sold the companies because the company is in deep financial distress and really needed cash now. There can be a dispute, I guess, about whether the price is too high or too low, but the Tatas certainly paid substantially less than Ford did for those brands. And by all counts Land Rover is profitable and Jaguar has made a strong comeback based on building capabilities, improving quality, they have some interesting new products in the pipelines, so I do agree. [emailprotected]:Did the Tatas did get a bargain, or did they overpay because this was a higher price than the market expected? MacDuffie: Its always very tough to know exactly and theres always this kind of speculation at the time. I think that Ford was certainly counting on increasing the volumes of these brands probably particularly Jaguar to a much higher level. And so at a certain point their efforts to greatly expand the volume, I think, probably hurt them somewhat. They were introducing lower priced Jaguars that a lot of people didnt feel represent that brand very well. They were trying to leverage their own Ford design parts from other models. I actually think managing it as a prestige brand from the base that Ford established should work well for the Tatas. That appears to be their pattern with their acquisitions that they by and large allow the management to keep doing what it is doing and, as I said, look for opportunities to learn from these foreign acquisitions. [emailprotected]:Some critics have been saying that for the Tatas this was a deal motivated more by the desire to acquire marquee or iconic brands, almost like former colonials acquiring the trappings of the former empire. Does that criticism make sense? MacDuffie: Who knows about that motivation? Theres certainly a kind of interest, I think, in the whole deal that comes partly from such associations. One of the other Tata deals thats gotten some attention is the acquisition of Tetley Tea, another British brand, and also of British Steel, the remains of British Steel. And so clearly investing in Britain has worked well for Indian companies. There were competing buyers, mostly private equity sometimes in partnership with other auto companies. And both the unions and the suppliers of Jaguar and Land Rover very much prefer Tata. I suspect not because theyre an Indian company but because of their track record in the way theyve managed acquisitions. They by and large have not done wide-scale layoffs, they have not done lots of consolidation; theyve focused on leveraging the strengths and the capabilities they have acquired. Singh: I agree with everything John Paul is saying. My comment is that its important for the Tatas not to get distracted by the nationalism and those kinds of things, which are all inevitable and natural. And I think its good, the pride is well-placed. You know the pride in Tatas by Indian investors and others is well placed. But fundamentally, this transaction has to perform because its a large transaction. I think there is a very good chance of performing. But I think it important for them to not get wrapped in the overlay of national pride and British colonialism and all those things. [emailprotected]:Ford really had a tough time during the many years that it owned these brands. What could the Tatas do differently to make sure that the acquisitions pay off? Singh: Its correct that Ford struggled quite a bit with these transactions. One of the issues that John Paul mentioned earlier was that Ford is in financial trouble. So if you were to think about Tatas approach to all of this, they could get a good price because its a distress sale. I mentioned market replacement value and there is a good chance that the $2.3 billion is well below replacement value because Ford bought Jaguar for a similar reason. They wanted that luxury nameplate. And Land Rover also is a high-end nameplate. But we can also ask that based on these multiple bidders present, that what we will get is kind of almost an auction-like value, right? Except that it will, given that the bidders are all well-informed and they have had access to the books this is a private transaction, its not a pub