Business math project Speech or Presentation Example | Topics and Well Written Essays - 1500 words

Business math project - Speech or Presentation Example d function implies that if the competitors come together into a merger, the resultant monopolist product may not have more brands than the merged firm may, because more brand competition is internal. Nevertheless, it is not likely that just a single brand will be developed after the competitors’ merger. Producing more brands with a wide range of prices and properties is one technique for breaking up the market demand into sets of different clients with a variety of price elasticity, which also serves to stimulate the overall market demand. The monopolist product function is made up of the quantity or the number of brands in the market, the average cost per unit of the brands produced and the price or the value of the product brands. The questions will thus be solved by inputting the prices in the Mathematica codes and then applying the demand function below: to generate the 2 dimensional plotting of the first question. In the second question, the data input in Mathematica code s will be the quantity of products. In Question 3, the data input will be the same as in question 1 but will have a fixed price of 1 in calculating the demand elasticity. Question 4 will be treated in the same way as question 2 but will have a fixed quantity of 1 to calculating the marginal cost. Question 5 will calculate the profit function as the difference between the price and the marginal cost of the products. The sixth question will produce the 3D plots of the profit function, with two input variables, the prices and the product quantities. From this, it will be possible to locate the maximum profit to answer question 9, and select the quantity and the price that produces it, to answer question 7 and 8 respectively. The study was successful in testing all the numerical questions presented. From the results generated, it was clearly evident that the price and the demand were inversely proportional. As the price increased, the demand for the products was seen to be reducing. At the same

Effects on Buyer Behaviour in Arab Culture

Effects on Buyer Behaviour in Arab Culture Introduction The aim of this research is to investigate and further analyse those key factors which affect the buyer behaviour in Arabs and especially as health is the basic need of every human being, considering every aspect of the society never promote any uneven deal in regard to health issues. In this research it will explore and investigate that during in such environment and understanding the cultural, religious etc. of the Arab different societies their choice of health care means when they are coming abroad for advance and equipped treatment, before what factors an Arab patient consider. Arab culture is basically composed on Islam, and their culture is a full translation of Islam. Culture is a Latin word â€Å"cultura† which means improvement of the soil and total transformation of the nature. The valid and modern meaning of culture is designation of spiritual development and upbringing. Culture most authentic definition is in most common sense that culture is the spiritual perfection and human development. Culture understanding is mainly concern with sprit and spiritual power. Culture is the spirit and a valid identity of a nation. Every nation has its own culture and this culture is playing a vital role in the building of a healthy society. Because every society has its own culture that characterises it. Every society has some beliefs and these beliefs are strictly followed by every person of existing society. Arabs are mainly 22 different countries with different culture and different sects and religion, their common language is Arabic with a few other dialects. Arabs are mainly divided like 10 countries in Africa and 12 in Asia, according to UNDP report 1993 its total population is 230 million in 22 different countries, representing in majority Muslim and in minority Christian and Jewish. Arabs are mainly living in joint family system; every person is more dependent on each and every person. They respect each and every person and especially the elders and give them proper attention due to their age and experience, and always play a vital role in making any decision. Arabs always consider and never cross the boundaries of Islam, and their belief is very strong in God, it is a strong belief that every happiness and sorrow is from God. A very common and with a strong belief that when any uneven or a good thing happen, it is consider that it is the fortune which born with him and a divine from God. The key factors which influence the buyer behaviour in Arab are culture, social, personal and psychological factors. In Arab society there is joint family system and an individual person is not free in its decision, because its all family are more concern about taking in decision and more extent its choice is influenced by the family, culture and personal and psychological factors i.e. its beliefs (religion), perception, motivation and learning. These are the key factors which influence the consumer buying power, in such a situation how an Arab then goes to select a health service in his country or abroad which satisfy his all factors i.e. its religion, culture and social. Reason for Choosing this Topic: Reason for choosing this topic is mainly relevant to my experience in marketing field, being more involved and studied a lot about the history of Arabs and interest in marketing field, also Arab is the new emerging market for business thats why I am optimistic that this theses will enhance my abilities and give a strength to my career in the chosen field. I personally worked in a tobacco company â€Å"WTD PAKISTAN† for more than three years and counted as consumer based company because it is mainly based on tobacco selling products. That why it becomes a solid and main reason for choosing this topic. Moreover with my personal experience and after reviewing literature, that different countries have different lifestyle, culture, different approaches in making decisions, different choices and different taste and different level of satisfaction. It seems interesting to me for research and enhance my capability in marketing. This topic is providing a broad/vast analysis to underlin e the key factors which influence the buyer power of buying because it is thoroughly proved from lot of theories and researches that consumer/ buyer all over the world has certain level of satisfaction, which is disturb by some factors existing in its surrounding environment. To evaluate these influences by considering academic resources, online journals and literature from authentic resources will enhance my knowledge and capabilities to do a better job in my real life. Literature Review:- Literature review is playing a vital role in completing of dissertation chosen and moreover will help me in completing my final dissertation has significant importance to complete my dissertation topic and ultimately to help me in completing my final dissertation. So in this context, some introductory literature review has been brought forward which have helped me in finalising my research topic and questions to be investigated. Moreover the essential and sufficient material for my chosen research topic review of literature, journals current articles from the authentic resources (magazines, newspaper) and academic books will give me help me in completing my task. International marketing: According to (Burca. D. C, 2004) that international marketing is the process of planning and undertaking transactions across national boundaries that involves exchange. The above statement gives an idea about the international marketing that it provides a platform for business across the boundaries or between different countries, and these businesses between different countries are under some rules and regulation. When the transaction takes place across national boundaries then the international marketers are subjected to different set of macro environmental factors and constrain deriving from different political system, legal frame work, cultural norms, and economic circumstances. Marketing is basically concern with exporting of products or services e.g. it very common that purchasing a chair from IKEA but in reality it will be imported from other countries or it parts will be export from other country but assembled in UK. Same if it is brought under discussion like computer and is accessories so it is clear those materials comes from India and software comes from china or Japan and product assembled in UK or other European countries. This idea of global import or exchange nourish in the shadow of international marketing, because international marketing introduce such rules and regulation for international marketer like licensing to joint ventures and contracts between two parties. According to (Sargeant. A, et al, 2002) that marketing is all about marshalling the resources of an organisation to meet the changing needs of customers on whom the organisation depends. Simply it will be quoted as marketing is all about how an organisation addresses its marketers. Customers needs are the starting point for marketing activity. Then the marketing manager tries to identify those needs and develop product or service, which satisfy customer needs through an exchange process. According to chartered institute of marketing that marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitability. According to (Shaughnessy. O. J, 1995) that marketing covers those activities that relate the organisation to those parts of the outside world that use, buy, sell or influence the outputs it produces and the benefits and services it offers. Simply marketing is the debate in organisation is what to offer, to whom, when, where, how, and for how much. Concept of marketing: Globalisation of goods and services created more opportunities for the customers to choose among the products. But customer expectations from the product or service in the available market are higher, because they paid the asked price for the service or product. It is the main duty of company that before launching any product or service they understand the needs of consumers in the market. When a company understand the expectation and needs of consumer by providing a product or service which meets the need of customer than marketer can develop a successful marketing strategy for the target market. Customers: A customer is generally understood the person who make the decision to buy a product or service, which pays for it. The product or service purchased by one person but consume by another person. So it is clear that customer and consumer will be same person. The terminology can imply something about the relationship between a company and its customer. Different customers within a market have different needs, which they seek to satisfy. To be fully marketing oriented a company needs to provide a product or service in the market which meet the needs of each individual. For this purpose they positioned their product or service in the markets which meet the need of that group. Needs: It is referred to something deep rooted in an individual personality. The satisfaction of need is conditioned by cultural values of the society from which they belong. In some culture needs for self fulfilment may be satisfied by religious penance, while in other societys needs may be satisfied by creative talent. According to Maslows theory that customer are motivated by their desire to satisfy complex needs. It is also recognised that once an individual have satisfied basic physiological needs, then they may be motivated by higher order social and self fulfilment needs. Value: It is a ratio of perceived benefits to price paid. Customer will evaluate benefits according to the extent to which a product allows their needs to be satisfied. Customers also evaluate the benefits of products compared to the benefits of other products placed competitively in the market. Consumer places a value on a product or service which is different from the value presumed by supplier. Value can be added by better specifying a product offer in accordance with customer expectation. If the price of a product or service is set higher it will affect its sale. If the price is set low it will increase its sale but affect its profit. Exchange: it is a way through which goods and services to be acquired. It implies that one party makes some sacrifices to another party in return to receive something of value. Other party expect same something of value. In market based economies there is a presumption that each party can decide whether or not to enter into an exchange with each other. Each party is also free to choose between a numbers of potential partners. Basically exchange takes the form of a product being exchanged for money. Market: the term market has traditionally been used â€Å"a place where buyers and sellers gather to exchange goods or services†. Market simpler and of value definition is that it is the interaction between buyers and sellers. Marketing Mix: It is very important for the marketers to consider the marketing mix before launching any product or service. It provides a great deal of knowledge about the operating market and then how, where and to whom the product should be target in the market. Product: product is the main source by which an organisation satisfy customer or consumer needs. Product offered by an organisation is tangible or intangible in nature must satisfy the needs of potential customer. The elements of product mix are quality levels, styling, special design features, durability, packaging, range of sizes or options, warranties, after sales service and brand images which is controlled by marketers. Pricing: it is a critical element and determines the revenue that will be generated. Setting prices is a difficult part of marketing mix. Prices are determined by the interaction of market forces. Marketers set prices for individual products on the basis of what they cost to produce, what the competition is charging and what customer are prepared to pay. Price decision also involve deciding on the relationship between prices charged for different products within a firms range and decision about the price strategy over time. Place: it plays a very important role in decision making, Choice of right place for product or service to be launched. Customers mostly prefer to buy the product or service from the nearest distributor. Organisation right decision of place provides an opportunity to customers to gain access to its products and services easily. Promotion: promotion is a best source of communication for marketers to highlight or communicate the benefits of their product and service to their target market. Promotion can be used by different methods like advertising, personal selling, public relation, sales promotion, sponsorship and by direct marketing method. Promotion method should be not the same in every culture. It will be different according to the requirement of different culture where an organisation operates. Fundamentals of marketing: According to (Dwyer. F. R, et al, 1987) states that identification and satisfaction of consumer needs by providing a product or service of value to fulfil the consumer expectation by developing a proper marketing plan or strategy. It is necessary for marketing managers to understand the position of their organisation. The marketing managers always plan and develop strategies for launching their product or service in market, before they should know about the position of their product or service in the market and factors which makes their product attractive and of value to the consumers. According to (Kasper, 2001) that it is very important for an organisation to know when, where and how the consumer thinks that their product or service is different from other potential and current competitors in the market. Porters strategy of differentiation gives knowledge to an organisation that how they are different from their competitors. Organisation must identify the customer orientation before developing its marketing strategy. Benchmarking of customer, organisation and competitors in market are the key function of marketing, such a benchmarking move them to decide a differentiation strategy. Elements of marketing fundamentals: Customer orientation: It is very necessary for an organisation to understand in depth its target buyers, then develop or produce a product or service of high or superior value/ quality to fulfil the needs of customers. Customers are the only source who can accept or reject the product value or feedback from consumer is the absolute source for an organisation to know the value and position of their product in the market and among competitors. Customer orientation requires that a company understand not only the present value to the customer, but also how this is likely to evolve over time. Competitor Orientation: when an organisation focusing on its customers, so it is also necessary for an organisation to look that how a competitor is satisfying its consumer needs. An organisation needs to understand the short term strengths and weaknesses and long term capabilities and strategies of current and potential competitors in the operated market. Interfunctional co- ordination: It is very important for marketing managers to develop marketing plan, which not only give promise to customers and marketing staff. But the marketing plans only develop for creating value products and services. Marketing orientation needs to draw upon and integrate its human and physical resources effectively and adapt them to meet customers needs. Customers always pay attention that what an organisation is offering in the market which completely satisfies the expectation of consumers; product or service which satisfies the customer expectation must be of value. And when customer satisfies from the outcome of product or service it directly produces more chances of repeat business and dissatisfaction may lead to failure and negative experience which may limit the business of such an organisation. Factors influencing buyer behaviour: According to Usunier (2000) that before purchasing there is no concept of seeing, smelling and touching. This gives an idea about the shape, colour and space during the purchase in some cultures. In the case of healthcare, when someone is buying healthcare he looks to certain points by knowing that purchasing a product will be not same to purchase a service. In case of healthcare there is no guarantee that an individual will get optimistic benefits. The healthcare provider must provide in the market of healthcare some reasonable and attractive, competitive and consumer encouraging packages which attract the consumer to buy their packages like price, advance treatment, accommodation and high and quick service. It encourages the consumer that they are receiving the very best and high quality service available in the healthcare market. Todays world is a hub of marketing and in every sector there is a trend of competition every organisation is trying to capture more market share by launching more consumers attractive packages, to promote and encourage their own product and service. Devetags model (1999) of consumer behaviour This model is basically represent the industrial and corporate change is only brought here under discussion for the process of making decision and influences on the consumer behaviour in case of buying health care. This model represents the different products or services and provides the grounds to the consumer to choose the product or service. Devetags model provides grounds for the consumer to choose between products â€Å"A† United Kingdom and products â€Å"B† (Home country) or other countries products or services in the market. Product â€Å"A† is a superior and expensive quality but product â€Å"B† is also compete the market with superior quality. Devetags model (1999)   Ã‚  Ã‚  In the above Devetags model quality is expressed on y-axis and convenience (price) is expressed on x-axis. In the above diagram product â€Å"A† is competing product â€Å"B†. And the value of product â€Å"A† among the consumer is more than product â€Å"B†, the one reason of choosing product â€Å"A† of superior quality and high price is because the consumer thinks that â€Å"Give something and get something of value† is clear that when consumer decide to purchase a product or service then he expect that the chosen product or service will satisfy his needs. Product â€Å"A† has a good reputation in the market due to its quality and price, which makes the minds of consumers, that the product is reliable and meets the requirements of consumers. But in the competition of product â€Å"A† and â€Å"B† product â€Å"C† also exist in the market, shown in the diagram inside the box. Product â€Å"C† d ominated by â€Å"B†, which is inferior to â€Å"B† in case of price and quality but still cannot attract more consumer compare product â€Å"A†. Product â€Å"A† demand among the consumers is due to proper advertisement and reputation in the healthcare market. It is clear that in case of health care industry consumer always search the market where they can attain quality product or service at reasonable price. This model is best suitable for decision making and to count the influences on consumer behaviour, because this model highlights psychology of consumer that how consumer choose the product or service among the different available products and services in the market, and how consumer gauge the quality of product or service and underline the importance of chosen product and then purchased it. According to (Pekkala et al, 1983) that a reliable product needs to be introduce and advertise in the intended market before launching. It means that the product or service needs proper market segmentation, and also advertisement in the relevant business environment. It is compulsory that the marketers appreciate the culture of a country in which he operates. It is clear from the above statement that culture should be consider when ever providing a service or product in the market of a country. Because culture plays an important role in promoting the product â€Å"A† and â€Å"B† which attract more consumer all over the world because product â€Å"A† is acceptable to the people of a country in which he operates. It clears that before launching or introducing any product or service the cultural values of a country should be considered. According to Economist (2009) that NHS chief David Nicholson is planning to introduce improvement in the efficiency and productivity of NHS on larger scale. In coming 2013 NHS budget 15% of wealth will be spent on health care services in the UK to fulfil the rising demand with best suitable resources, thus the NHS will be consumer attractive organization in the world market, will play a role model in the health care industry of world. NHS is from long years a cheap compare to America and other developed European countries. NHS provides a standard service at low cost, and this is happening only due to the effort of General practitioners (GPs). But health care in other countries like Denmark and Netherland is more expensive and physician are act as gatekeeper, means that health buyer never goes for treatment due to high price and low quality. In the above Devetags model UK NHS will be awarded as product â€Å"A† due to high quality and reasonable price, and planning for the future and spending more money on the health sector will enhance their share in the market, more consumers will attain NHS. Arabs comes to United Kingdom due to the high quality service like able and experienced doctors, equipped and up to date laboratories and due to recent researches in the medical sciences, on reasonable prices treatment attract more Arabs health consumer to get benefit from the UK health industry. Due to the proper advertisement and promotion in the market, introduced by the UK health care industry marketers attract more Arabs patients because they are more vulnerable and easily attract towards the available services. Cultural influences on consumer behaviour: According to Tylor (1913) that â€Å"culture is complex and interrelated set of elements, comprising knowledge, beliefs and values, arts, law, manners and morals and all other kinds of skills and habits acquired by a human being as a member of a particular society†. It is clear from the above statement of Tylor that culture is not composed on one thing but it is a set of elements already exist in a society, and every society is mainly composed on the beliefs and values (religion) of people living, attitude, habitat, architecture and adopted rules and regulation to survive in the society. Ralph Linton (1945) describe the culture as it is the configuration of learned behaviour and results of behaviour whose components elements are shared and transmitted by the particular society, furthermore he indicates the limits of the cultural programming which the society can impose on the individual. Ralph Linton describe the culture more simply that culture is the learning process which result in changes in the behaviour of an individual living in a society, it transmitted from parents to offspring in a very conventional way with its limitation, because every society has cultural limits, compulsory for every individual to obey it. According to Hofstede (1998) that consumer behaviour is cultural dependant. These all above definition provides a broader concept of culture that culture is basically name of shared values developed in particular environment, it gives an idea that one culture is not superior to another culture but may be different due to beliefs and values, knowledge, arts, law, manners and morals, habitat and skills. It is now easier to understand a culture of particular country society, and due to the globalisation of products and services and to provide the equal opportunities to the world population to get benefit from these globalised product or service it necessary to introduce the acceptable marketing and advertising strategies globally. Because one uniform marketing and advertisement strategy is not appropriate as whole, it is evident that marketing and advertisement strategy for West is never works in the Middle East due to their cultural restriction. According to De Mooji (1997) that products are globalised but people are not globalised, products are accepted in more than one culture due to different and appropriate advertising strategy. Language, concept, number, colour, space and humour are constant among cultures; they are not changeable among cultures. Communication: According to (Burce. C. D, et al, 2004) that communication plays a vital role in conveying the message among the global marketers, and consider as reflection of a culture. There is a difference between countries verbal communication due to the adapted culture and verbal communication is different from one culture to another, it is not different in term of language but also in term of variables like who, what, how, where, when, and why. Communication may be verbal or non verbal having same importance in conveying the message to the recipient in term when a marketer satisfy a consumer. According to (Burce. C. D, et al, 2004) that due to cultural differences people are more likely to communicate with each other without any problem and this fluency in the communication is due to hierarchy, status consciousness, behaviour and other factors which plays the role of gatekeepers. The different method of communication and its uses were brought under discussion, how the message is communicated, which channel is used for this communication e.g. spoken or written etc. and it depends on the availability of channels in the cultures and factors are speed, formality, legality and seniority. Another factor is whether message should be communicated, to know the right authority to which the message will be communicated, and also the time schedule for the communication and the meaning and purpose of communication. Body language has different meaning in different cultures, like feet gesture in west society is consider as attention but in Arabs it is an insult and facial gesture is mos t commonly noticed in the West culture as emotion, happiness and embarrassment but in Arabs culture it is consider as embarrassment and not used for the expression of desire. According to (Morris, 1997) that non verbal communication is not strange when dealing in different cultures, because this section deals with signals and from these received signals one will understand what the other person is conveying him and then to judge to understand the language of these signals and then make its own assumption to believe or trust on whom. Non verbal communication deals with body stress signals e.g. perspiration and licking of lips etc. and lower body signals like foot tapping, frequent crossing and uncrossing of knees etc. and body posture signals are used for boredom like body sagging and slumping, body gesture like movements of hands and facial expression are also used for non verbal communication. Mead (1993) stated that culture and religion is an essential part of lives of the people in every society, and it is compulsory for the health care provider to understand and know the culture and religion of the patient. According to Galanti (1991) that most cultures shares same beliefs, values and practices, it is necessary for health care provider to treat a patient as a family unit not as individual by creating psychological, spiritual and environment of physical needs. Sign and symbols: According to (Unsunier, 1993) that interpretation of symbols is strongly culture bound. The above statement of Unsunier Clearly describe that in every culture they use sign and symbols as a source of communication. This statement provides understanding about the cultural signs and symbols that every culture use very strongly sign and symbols as a source of communication. According to (Goffman, 1963) that headscarf is a symbol of normative cultural values and social relations of class and power that determine our perception. It communicates the individual and collective motivation of those who adopt it, as much as perception that rejects it. The symbol of headscarf makes sense as a language of relationship between those who asset their orientation towards values of Islam and those social classes that owe their status to normative values of modernity, such as equality and liberty. It further argues that stigma refers to individual sign; socially information and individual transmit about himself that disqualifies him and creates an obstacle to being fully accepted by society. In west colours are more used as sign and symbols like black colour is used for mourning while white colour is used in most of Muslim societies as religious and partially used as mourning colour. Red colour is used as symbol of tragedy and warning. In case of numbers 13 is symbol of bad luck in UK and this number is avoid in any department for numbering purpose e.g. no bed is marked in hospital with 13 etc. in Japan 4, Asia 555 and in china and some other countries 7 is consider bad luck numbers. In Pakistan crow and black dog is consider as symbol of bad luck, in India owl, UK black cat and in Japan fox is a symbol of bad luck. It is evident from the above discussion that sign and symbol is a strong source of communication, and always it is necessary for marketers to consider these sign and symbols which rejects by a culture in providing any product or service. Imagery: Images from very beginning plays a vital role in conveying the messages. In marketing pictures are used as strong source of communication and by this the marketers captured more market shares in the market for their own product. Marketers use pictures for the advertisement of a product or service, but it will be acceptable in one culture but may bring disaster in other society. Comparing West culture and Arab, in West culture the advertisement of bra by a naked woman is consider as a routine and essential for advertisement and attract more consumers to buy the product. But in Arabs it will be completely different, it is also true that Arab women are wearing bras but the advertisement strategy for Arabs will be completely different compared to West. It is necessary to have sufficient knowledge about the culture and religion of Arabs. According to (Keegan et al, 1989) that cultural value always plays a vital role on the consumer behaviour and having defined and always gained a considerable attention in marketing, and also its influences on marketing strategy are well presented. It is clear from the above theory that culture is always playing a role in influencing the consumer behaviour, because every society is composed on define culture and every culture has its own values, which may need to be considered during any decision making, needs proper attention during choosing any product/service. For marketers to advertise or promote and introduce a product or service in a specified market, they need to consider the cultural values of the country where they operate. According to (Usunier, 1993) that customer are different in each country, marketers must consider them, and by considering the values, attitudes and tastes between cultures may help in satisfaction of customer. The above theory states that to avoid the influences on consumer behaviour, it is very compulsory to consider the different customer satisfaction. It is also evident Effects on Buyer Behaviour in Arab Culture Effects on Buyer Behaviour in Arab Culture Introduction The aim of this research is to investigate and further analyse those key factors which affect the buyer behaviour in Arabs and especially as health is the basic need of every human being, considering every aspect of the society never promote any uneven deal in regard to health issues. In this research it will explore and investigate that during in such environment and understanding the cultural, religious etc. of the Arab different societies their choice of health care means when they are coming abroad for advance and equipped treatment, before what factors an Arab patient consider. Arab culture is basically composed on Islam, and their culture is a full translation of Islam. Culture is a Latin word â€Å"cultura† which means improvement of the soil and total transformation of the nature. The valid and modern meaning of culture is designation of spiritual development and upbringing. Culture most authentic definition is in most common sense that culture is the spiritual perfection and human development. Culture understanding is mainly concern with sprit and spiritual power. Culture is the spirit and a valid identity of a nation. Every nation has its own culture and this culture is playing a vital role in the building of a healthy society. Because every society has its own culture that characterises it. Every society has some beliefs and these beliefs are strictly followed by every person of existing society. Arabs are mainly 22 different countries with different culture and different sects and religion, their common language is Arabic with a few other dialects. Arabs are mainly divided like 10 countries in Africa and 12 in Asia, according to UNDP report 1993 its total population is 230 million in 22 different countries, representing in majority Muslim and in minority Christian and Jewish. Arabs are mainly living in joint family system; every person is more dependent on each and every person. They respect each and every person and especially the elders and give them proper attention due to their age and experience, and always play a vital role in making any decision. Arabs always consider and never cross the boundaries of Islam, and their belief is very strong in God, it is a strong belief that every happiness and sorrow is from God. A very common and with a strong belief that when any uneven or a good thing happen, it is consider that it is the fortune which born with him and a divine from God. The key factors which influence the buyer behaviour in Arab are culture, social, personal and psychological factors. In Arab society there is joint family system and an individual person is not free in its decision, because its all family are more concern about taking in decision and more extent its choice is influenced by the family, culture and personal and psychological factors i.e. its beliefs (religion), perception, motivation and learning. These are the key factors which influence the consumer buying power, in such a situation how an Arab then goes to select a health service in his country or abroad which satisfy his all factors i.e. its religion, culture and social. Reason for Choosing this Topic: Reason for choosing this topic is mainly relevant to my experience in marketing field, being more involved and studied a lot about the history of Arabs and interest in marketing field, also Arab is the new emerging market for business thats why I am optimistic that this theses will enhance my abilities and give a strength to my career in the chosen field. I personally worked in a tobacco company â€Å"WTD PAKISTAN† for more than three years and counted as consumer based company because it is mainly based on tobacco selling products. That why it becomes a solid and main reason for choosing this topic. Moreover with my personal experience and after reviewing literature, that different countries have different lifestyle, culture, different approaches in making decisions, different choices and different taste and different level of satisfaction. It seems interesting to me for research and enhance my capability in marketing. This topic is providing a broad/vast analysis to underlin e the key factors which influence the buyer power of buying because it is thoroughly proved from lot of theories and researches that consumer/ buyer all over the world has certain level of satisfaction, which is disturb by some factors existing in its surrounding environment. To evaluate these influences by considering academic resources, online journals and literature from authentic resources will enhance my knowledge and capabilities to do a better job in my real life. Literature Review:- Literature review is playing a vital role in completing of dissertation chosen and moreover will help me in completing my final dissertation has significant importance to complete my dissertation topic and ultimately to help me in completing my final dissertation. So in this context, some introductory literature review has been brought forward which have helped me in finalising my research topic and questions to be investigated. Moreover the essential and sufficient material for my chosen research topic review of literature, journals current articles from the authentic resources (magazines, newspaper) and academic books will give me help me in completing my task. International marketing: According to (Burca. D. C, 2004) that international marketing is the process of planning and undertaking transactions across national boundaries that involves exchange. The above statement gives an idea about the international marketing that it provides a platform for business across the boundaries or between different countries, and these businesses between different countries are under some rules and regulation. When the transaction takes place across national boundaries then the international marketers are subjected to different set of macro environmental factors and constrain deriving from different political system, legal frame work, cultural norms, and economic circumstances. Marketing is basically concern with exporting of products or services e.g. it very common that purchasing a chair from IKEA but in reality it will be imported from other countries or it parts will be export from other country but assembled in UK. Same if it is brought under discussion like computer and is accessories so it is clear those materials comes from India and software comes from china or Japan and product assembled in UK or other European countries. This idea of global import or exchange nourish in the shadow of international marketing, because international marketing introduce such rules and regulation for international marketer like licensing to joint ventures and contracts between two parties. According to (Sargeant. A, et al, 2002) that marketing is all about marshalling the resources of an organisation to meet the changing needs of customers on whom the organisation depends. Simply it will be quoted as marketing is all about how an organisation addresses its marketers. Customers needs are the starting point for marketing activity. Then the marketing manager tries to identify those needs and develop product or service, which satisfy customer needs through an exchange process. According to chartered institute of marketing that marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitability. According to (Shaughnessy. O. J, 1995) that marketing covers those activities that relate the organisation to those parts of the outside world that use, buy, sell or influence the outputs it produces and the benefits and services it offers. Simply marketing is the debate in organisation is what to offer, to whom, when, where, how, and for how much. Concept of marketing: Globalisation of goods and services created more opportunities for the customers to choose among the products. But customer expectations from the product or service in the available market are higher, because they paid the asked price for the service or product. It is the main duty of company that before launching any product or service they understand the needs of consumers in the market. When a company understand the expectation and needs of consumer by providing a product or service which meets the need of customer than marketer can develop a successful marketing strategy for the target market. Customers: A customer is generally understood the person who make the decision to buy a product or service, which pays for it. The product or service purchased by one person but consume by another person. So it is clear that customer and consumer will be same person. The terminology can imply something about the relationship between a company and its customer. Different customers within a market have different needs, which they seek to satisfy. To be fully marketing oriented a company needs to provide a product or service in the market which meet the needs of each individual. For this purpose they positioned their product or service in the markets which meet the need of that group. Needs: It is referred to something deep rooted in an individual personality. The satisfaction of need is conditioned by cultural values of the society from which they belong. In some culture needs for self fulfilment may be satisfied by religious penance, while in other societys needs may be satisfied by creative talent. According to Maslows theory that customer are motivated by their desire to satisfy complex needs. It is also recognised that once an individual have satisfied basic physiological needs, then they may be motivated by higher order social and self fulfilment needs. Value: It is a ratio of perceived benefits to price paid. Customer will evaluate benefits according to the extent to which a product allows their needs to be satisfied. Customers also evaluate the benefits of products compared to the benefits of other products placed competitively in the market. Consumer places a value on a product or service which is different from the value presumed by supplier. Value can be added by better specifying a product offer in accordance with customer expectation. If the price of a product or service is set higher it will affect its sale. If the price is set low it will increase its sale but affect its profit. Exchange: it is a way through which goods and services to be acquired. It implies that one party makes some sacrifices to another party in return to receive something of value. Other party expect same something of value. In market based economies there is a presumption that each party can decide whether or not to enter into an exchange with each other. Each party is also free to choose between a numbers of potential partners. Basically exchange takes the form of a product being exchanged for money. Market: the term market has traditionally been used â€Å"a place where buyers and sellers gather to exchange goods or services†. Market simpler and of value definition is that it is the interaction between buyers and sellers. Marketing Mix: It is very important for the marketers to consider the marketing mix before launching any product or service. It provides a great deal of knowledge about the operating market and then how, where and to whom the product should be target in the market. Product: product is the main source by which an organisation satisfy customer or consumer needs. Product offered by an organisation is tangible or intangible in nature must satisfy the needs of potential customer. The elements of product mix are quality levels, styling, special design features, durability, packaging, range of sizes or options, warranties, after sales service and brand images which is controlled by marketers. Pricing: it is a critical element and determines the revenue that will be generated. Setting prices is a difficult part of marketing mix. Prices are determined by the interaction of market forces. Marketers set prices for individual products on the basis of what they cost to produce, what the competition is charging and what customer are prepared to pay. Price decision also involve deciding on the relationship between prices charged for different products within a firms range and decision about the price strategy over time. Place: it plays a very important role in decision making, Choice of right place for product or service to be launched. Customers mostly prefer to buy the product or service from the nearest distributor. Organisation right decision of place provides an opportunity to customers to gain access to its products and services easily. Promotion: promotion is a best source of communication for marketers to highlight or communicate the benefits of their product and service to their target market. Promotion can be used by different methods like advertising, personal selling, public relation, sales promotion, sponsorship and by direct marketing method. Promotion method should be not the same in every culture. It will be different according to the requirement of different culture where an organisation operates. Fundamentals of marketing: According to (Dwyer. F. R, et al, 1987) states that identification and satisfaction of consumer needs by providing a product or service of value to fulfil the consumer expectation by developing a proper marketing plan or strategy. It is necessary for marketing managers to understand the position of their organisation. The marketing managers always plan and develop strategies for launching their product or service in market, before they should know about the position of their product or service in the market and factors which makes their product attractive and of value to the consumers. According to (Kasper, 2001) that it is very important for an organisation to know when, where and how the consumer thinks that their product or service is different from other potential and current competitors in the market. Porters strategy of differentiation gives knowledge to an organisation that how they are different from their competitors. Organisation must identify the customer orientation before developing its marketing strategy. Benchmarking of customer, organisation and competitors in market are the key function of marketing, such a benchmarking move them to decide a differentiation strategy. Elements of marketing fundamentals: Customer orientation: It is very necessary for an organisation to understand in depth its target buyers, then develop or produce a product or service of high or superior value/ quality to fulfil the needs of customers. Customers are the only source who can accept or reject the product value or feedback from consumer is the absolute source for an organisation to know the value and position of their product in the market and among competitors. Customer orientation requires that a company understand not only the present value to the customer, but also how this is likely to evolve over time. Competitor Orientation: when an organisation focusing on its customers, so it is also necessary for an organisation to look that how a competitor is satisfying its consumer needs. An organisation needs to understand the short term strengths and weaknesses and long term capabilities and strategies of current and potential competitors in the operated market. Interfunctional co- ordination: It is very important for marketing managers to develop marketing plan, which not only give promise to customers and marketing staff. But the marketing plans only develop for creating value products and services. Marketing orientation needs to draw upon and integrate its human and physical resources effectively and adapt them to meet customers needs. Customers always pay attention that what an organisation is offering in the market which completely satisfies the expectation of consumers; product or service which satisfies the customer expectation must be of value. And when customer satisfies from the outcome of product or service it directly produces more chances of repeat business and dissatisfaction may lead to failure and negative experience which may limit the business of such an organisation. Factors influencing buyer behaviour: According to Usunier (2000) that before purchasing there is no concept of seeing, smelling and touching. This gives an idea about the shape, colour and space during the purchase in some cultures. In the case of healthcare, when someone is buying healthcare he looks to certain points by knowing that purchasing a product will be not same to purchase a service. In case of healthcare there is no guarantee that an individual will get optimistic benefits. The healthcare provider must provide in the market of healthcare some reasonable and attractive, competitive and consumer encouraging packages which attract the consumer to buy their packages like price, advance treatment, accommodation and high and quick service. It encourages the consumer that they are receiving the very best and high quality service available in the healthcare market. Todays world is a hub of marketing and in every sector there is a trend of competition every organisation is trying to capture more market share by launching more consumers attractive packages, to promote and encourage their own product and service. Devetags model (1999) of consumer behaviour This model is basically represent the industrial and corporate change is only brought here under discussion for the process of making decision and influences on the consumer behaviour in case of buying health care. This model represents the different products or services and provides the grounds to the consumer to choose the product or service. Devetags model provides grounds for the consumer to choose between products â€Å"A† United Kingdom and products â€Å"B† (Home country) or other countries products or services in the market. Product â€Å"A† is a superior and expensive quality but product â€Å"B† is also compete the market with superior quality. Devetags model (1999)   Ã‚  Ã‚  In the above Devetags model quality is expressed on y-axis and convenience (price) is expressed on x-axis. In the above diagram product â€Å"A† is competing product â€Å"B†. And the value of product â€Å"A† among the consumer is more than product â€Å"B†, the one reason of choosing product â€Å"A† of superior quality and high price is because the consumer thinks that â€Å"Give something and get something of value† is clear that when consumer decide to purchase a product or service then he expect that the chosen product or service will satisfy his needs. Product â€Å"A† has a good reputation in the market due to its quality and price, which makes the minds of consumers, that the product is reliable and meets the requirements of consumers. But in the competition of product â€Å"A† and â€Å"B† product â€Å"C† also exist in the market, shown in the diagram inside the box. Product â€Å"C† d ominated by â€Å"B†, which is inferior to â€Å"B† in case of price and quality but still cannot attract more consumer compare product â€Å"A†. Product â€Å"A† demand among the consumers is due to proper advertisement and reputation in the healthcare market. It is clear that in case of health care industry consumer always search the market where they can attain quality product or service at reasonable price. This model is best suitable for decision making and to count the influences on consumer behaviour, because this model highlights psychology of consumer that how consumer choose the product or service among the different available products and services in the market, and how consumer gauge the quality of product or service and underline the importance of chosen product and then purchased it. According to (Pekkala et al, 1983) that a reliable product needs to be introduce and advertise in the intended market before launching. It means that the product or service needs proper market segmentation, and also advertisement in the relevant business environment. It is compulsory that the marketers appreciate the culture of a country in which he operates. It is clear from the above statement that culture should be consider when ever providing a service or product in the market of a country. Because culture plays an important role in promoting the product â€Å"A† and â€Å"B† which attract more consumer all over the world because product â€Å"A† is acceptable to the people of a country in which he operates. It clears that before launching or introducing any product or service the cultural values of a country should be considered. According to Economist (2009) that NHS chief David Nicholson is planning to introduce improvement in the efficiency and productivity of NHS on larger scale. In coming 2013 NHS budget 15% of wealth will be spent on health care services in the UK to fulfil the rising demand with best suitable resources, thus the NHS will be consumer attractive organization in the world market, will play a role model in the health care industry of world. NHS is from long years a cheap compare to America and other developed European countries. NHS provides a standard service at low cost, and this is happening only due to the effort of General practitioners (GPs). But health care in other countries like Denmark and Netherland is more expensive and physician are act as gatekeeper, means that health buyer never goes for treatment due to high price and low quality. In the above Devetags model UK NHS will be awarded as product â€Å"A† due to high quality and reasonable price, and planning for the future and spending more money on the health sector will enhance their share in the market, more consumers will attain NHS. Arabs comes to United Kingdom due to the high quality service like able and experienced doctors, equipped and up to date laboratories and due to recent researches in the medical sciences, on reasonable prices treatment attract more Arabs health consumer to get benefit from the UK health industry. Due to the proper advertisement and promotion in the market, introduced by the UK health care industry marketers attract more Arabs patients because they are more vulnerable and easily attract towards the available services. Cultural influences on consumer behaviour: According to Tylor (1913) that â€Å"culture is complex and interrelated set of elements, comprising knowledge, beliefs and values, arts, law, manners and morals and all other kinds of skills and habits acquired by a human being as a member of a particular society†. It is clear from the above statement of Tylor that culture is not composed on one thing but it is a set of elements already exist in a society, and every society is mainly composed on the beliefs and values (religion) of people living, attitude, habitat, architecture and adopted rules and regulation to survive in the society. Ralph Linton (1945) describe the culture as it is the configuration of learned behaviour and results of behaviour whose components elements are shared and transmitted by the particular society, furthermore he indicates the limits of the cultural programming which the society can impose on the individual. Ralph Linton describe the culture more simply that culture is the learning process which result in changes in the behaviour of an individual living in a society, it transmitted from parents to offspring in a very conventional way with its limitation, because every society has cultural limits, compulsory for every individual to obey it. According to Hofstede (1998) that consumer behaviour is cultural dependant. These all above definition provides a broader concept of culture that culture is basically name of shared values developed in particular environment, it gives an idea that one culture is not superior to another culture but may be different due to beliefs and values, knowledge, arts, law, manners and morals, habitat and skills. It is now easier to understand a culture of particular country society, and due to the globalisation of products and services and to provide the equal opportunities to the world population to get benefit from these globalised product or service it necessary to introduce the acceptable marketing and advertising strategies globally. Because one uniform marketing and advertisement strategy is not appropriate as whole, it is evident that marketing and advertisement strategy for West is never works in the Middle East due to their cultural restriction. According to De Mooji (1997) that products are globalised but people are not globalised, products are accepted in more than one culture due to different and appropriate advertising strategy. Language, concept, number, colour, space and humour are constant among cultures; they are not changeable among cultures. Communication: According to (Burce. C. D, et al, 2004) that communication plays a vital role in conveying the message among the global marketers, and consider as reflection of a culture. There is a difference between countries verbal communication due to the adapted culture and verbal communication is different from one culture to another, it is not different in term of language but also in term of variables like who, what, how, where, when, and why. Communication may be verbal or non verbal having same importance in conveying the message to the recipient in term when a marketer satisfy a consumer. According to (Burce. C. D, et al, 2004) that due to cultural differences people are more likely to communicate with each other without any problem and this fluency in the communication is due to hierarchy, status consciousness, behaviour and other factors which plays the role of gatekeepers. The different method of communication and its uses were brought under discussion, how the message is communicated, which channel is used for this communication e.g. spoken or written etc. and it depends on the availability of channels in the cultures and factors are speed, formality, legality and seniority. Another factor is whether message should be communicated, to know the right authority to which the message will be communicated, and also the time schedule for the communication and the meaning and purpose of communication. Body language has different meaning in different cultures, like feet gesture in west society is consider as attention but in Arabs it is an insult and facial gesture is mos t commonly noticed in the West culture as emotion, happiness and embarrassment but in Arabs culture it is consider as embarrassment and not used for the expression of desire. According to (Morris, 1997) that non verbal communication is not strange when dealing in different cultures, because this section deals with signals and from these received signals one will understand what the other person is conveying him and then to judge to understand the language of these signals and then make its own assumption to believe or trust on whom. Non verbal communication deals with body stress signals e.g. perspiration and licking of lips etc. and lower body signals like foot tapping, frequent crossing and uncrossing of knees etc. and body posture signals are used for boredom like body sagging and slumping, body gesture like movements of hands and facial expression are also used for non verbal communication. Mead (1993) stated that culture and religion is an essential part of lives of the people in every society, and it is compulsory for the health care provider to understand and know the culture and religion of the patient. According to Galanti (1991) that most cultures shares same beliefs, values and practices, it is necessary for health care provider to treat a patient as a family unit not as individual by creating psychological, spiritual and environment of physical needs. Sign and symbols: According to (Unsunier, 1993) that interpretation of symbols is strongly culture bound. The above statement of Unsunier Clearly describe that in every culture they use sign and symbols as a source of communication. This statement provides understanding about the cultural signs and symbols that every culture use very strongly sign and symbols as a source of communication. According to (Goffman, 1963) that headscarf is a symbol of normative cultural values and social relations of class and power that determine our perception. It communicates the individual and collective motivation of those who adopt it, as much as perception that rejects it. The symbol of headscarf makes sense as a language of relationship between those who asset their orientation towards values of Islam and those social classes that owe their status to normative values of modernity, such as equality and liberty. It further argues that stigma refers to individual sign; socially information and individual transmit about himself that disqualifies him and creates an obstacle to being fully accepted by society. In west colours are more used as sign and symbols like black colour is used for mourning while white colour is used in most of Muslim societies as religious and partially used as mourning colour. Red colour is used as symbol of tragedy and warning. In case of numbers 13 is symbol of bad luck in UK and this number is avoid in any department for numbering purpose e.g. no bed is marked in hospital with 13 etc. in Japan 4, Asia 555 and in china and some other countries 7 is consider bad luck numbers. In Pakistan crow and black dog is consider as symbol of bad luck, in India owl, UK black cat and in Japan fox is a symbol of bad luck. It is evident from the above discussion that sign and symbol is a strong source of communication, and always it is necessary for marketers to consider these sign and symbols which rejects by a culture in providing any product or service. Imagery: Images from very beginning plays a vital role in conveying the messages. In marketing pictures are used as strong source of communication and by this the marketers captured more market shares in the market for their own product. Marketers use pictures for the advertisement of a product or service, but it will be acceptable in one culture but may bring disaster in other society. Comparing West culture and Arab, in West culture the advertisement of bra by a naked woman is consider as a routine and essential for advertisement and attract more consumers to buy the product. But in Arabs it will be completely different, it is also true that Arab women are wearing bras but the advertisement strategy for Arabs will be completely different compared to West. It is necessary to have sufficient knowledge about the culture and religion of Arabs. According to (Keegan et al, 1989) that cultural value always plays a vital role on the consumer behaviour and having defined and always gained a considerable attention in marketing, and also its influences on marketing strategy are well presented. It is clear from the above theory that culture is always playing a role in influencing the consumer behaviour, because every society is composed on define culture and every culture has its own values, which may need to be considered during any decision making, needs proper attention during choosing any product/service. For marketers to advertise or promote and introduce a product or service in a specified market, they need to consider the cultural values of the country where they operate. According to (Usunier, 1993) that customer are different in each country, marketers must consider them, and by considering the values, attitudes and tastes between cultures may help in satisfaction of customer. The above theory states that to avoid the influences on consumer behaviour, it is very compulsory to consider the different customer satisfaction. It is also evident

Angels Essay -- essays research papers

ANGELS   Ã‚  Ã‚  Ã‚  Ã‚  God’s holy angels carry out a variety of tasks and deeds, as well as the angels of Satan. They carry out what the will of heaven is on earth when god Himself wants. Sometimes they appear as normal humans and sometimes with all the radiance of heaven shining upon them, and making known that a part of heaven is on earth. What I am going to try to explain is that I don’t think that angels have a role. I think that any angel does whatever heaven’s will wants it to do, when it wants it. In other words, angels do as they are told, not what they want. I’m going to review one by one what jobs or roles God has given to the angels. Roles of the Angels Messenger   Ã‚  Ã‚  Ã‚  Ã‚  Most likely the angels’ main role that God gave to them was to be a messenger to those that were in need. Many times angels have appeared to someone just in the nick of time to deliver an urgent message from God. This is evident in the following stories: Abraham is just about to sacrifice his firstborn child before an angel comes and reveals to him why he had to do this. Many times in Acts angels appear to the Minor Prophets to give them important messages ranging from not being afraid for things to come or telling them they must seek out someone. Then there are the angels that are spoken of in Revelations. Sometimes the angels speak directly to John, and sometimes appear in visions of the end of times. The angel at the end of times is yet to come, and will proclaim in a loud voice to all the world the glory and majesty of God. There are many other examples of angel revealing a message to God’s people, both in the Old and New Testament. Many of them are very brief, (an angel appeared to John and told him not to enter Samaria), yet still important. We don’t know God’s reasoning for sending His angels, yet every message was in God’s plan and could not have been overlooked. Guardian   Ã‚  Ã‚  Ã‚  Ã‚  Although the Bible does not actually use the term â€Å"guardian† angels, it does speak of angels protecting people. God is our protector and cornerstone, and yet He includes in His Word that angels also protect us. Specific instances of this are, for example, two times in Psalms angels are said to encamp around those that fear Him, and angels will guard you in all your ways. They don’t specifically guard one single person in these chapters, ... ...hat stands up for everything that is evil. His role is to corrupt and rapture all of mankind and bring them all into eternal punishment and damnation. As for all his demonic followers, Rev 12:14 suggest he might have taken one third of the angelic population with him as it says the dragon that swept 1/3 of the stars away. His fight with Michael is described in Rev 12:7-12 where again Satan is the dragon and Michael the guardian hurls him down to earth from the sky. After Revelations mention this they have 4 other passages with Satan that all speak of his and all of his and their demise. It says they are thrown into the lake of burning sulpher and condemned to hell forever to be experience eternal pain and suffering.   Ã‚  Ã‚  Ã‚  Ã‚  In the end, are angels assigned to roles? Can some only do what they where made to do? I would have to disagree and say they don’t have specific roles in heaven. All the unnamed angels, when they visited earth, usually either guarded or gave a message to someone in need. God sends every angel with or for a purpose and Gods purposes are important. Really, the angel’s only role in heaven and earth is to do what the Lord requires them to do.

Clothing in the Awakening

Clothes appear to have significant meaning in The Awakening, enough so that they are mentioned at almost every description of the characters. Edna Pontellier starts the novel fully dressed and appropriately dressed for a woman of her responsibilities, however, at her final moment, she is naked on the beach. Other women in the story also represent their ‘position’ and the way they feel in the way they dress. For example, Madmoiselle Reisz never changes her clothes.This could possibly symbolize her physical detachment from anything around her, including nature and any suppressed feelings. In contrast, Edna’s clothes represent her physical attachment to society. She sheds her clothes the way a snake sheds its skin when it is time for a new one and it does not fit into the old one any longer. Edna doesn’t feel like she can fit into society any longer. Madmoiselle Reisz, on the other hand, does not seem to have any desire to be more than what she has been given in the society in which she lives.Therefore, she does not change her clothes, because she does not feel the need for change in her life. Other characters, such as Madame Leburn always have new clothes to cover their bodies. This could, perhaps, represent the constant need to cover their sexuality as women in suppressed roles as wives and mothers. Ednas’ nakedness at the end of the novel symbolizes her freedom from any claims her children may have on her and shows how her lack of clothes is equal to her lack of ‘responsibility’, of her family and the 1890s’ society.Through the motif of clothes, Kate Chopin suggests that although society can be restricting, in order to have discipline, rules can be necessary. Can be destructive, lack of rules can lead to destruction of self. The symbol of clothing in the story shows the development of her freedom from the harsh rules of the Creole society. In the beginning of the novel, Edna is accustomed to wearing the same clothes as the Creoles. Throughout the story, she is found loosening her collar and trying to remove articles of clothing.After her awakening, Edna becomes restless and starts to neglect the rules placed upon her. As Edna progresses throughout the novel, she discards more and more layers of the confining clothing that surrounds her body and soul. By taking off her clothing, one piece at a time, she is disobeying the rules placed upon her, and in doing so, she exerts her independence. The clothing symbolizes the constraints on the social behavior of women in this era. It restricts Edna and doesn’t allow her body to move. At the beginning of the novel, Edna is fully dressed and in proper clothing.However, when Edna and Adele walk together on the beach, Edna wears less clothing In one example of rebellion, Edna begins to care less about her duties as a woman in a Victorian society and chooses to not wear what society expects of her. â€Å"Mrs. Ponteiller did not wear her usual Tuesday reception gown; she was in ordinary house gowns. † (59) The house gown are less elaborate and involve wearing less clothing than reception gowns, and to Edna, is more comfortable. Although those around her do not approve, she chooses to do what she feels and does this witho5ut hesitation or guilt.

Bmw and Peugeot

[pic] MBA 503: Managerial Decision Making: Financial Analysis Professor: Sameer Mustafa [pic] [pic] INVESTMENT IN AUTOMOBILE INDUSTRY: BMW OR PEUGEOT Section F12N72 Team members: Ranjan Saha Sam Khassawneh Elena Dugarova Executive Summary This report provides a financial analysis and assessment of two automobile companies Bayerische Motoren Werke (BMW Group) and PSA Peugeot Citroen. Methods of analysis include comparison and evaluation of financial ratios, financial SWOT, R&D and cash flow analyses. All calculations can be found in the appendices.Results of data analyzed show that both companies have strengths, weaknesses, threats and opportunities, but Peugeot has more strengths and opportunities in terms of long-run prospective, than in BMW. After analyzing both companies we recommend to invest in Peugeot. Table of Content 1. Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. â⠂¬ ¦Ã¢â‚¬ ¦.. 2. SOWT Analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦ 1. BMW Strengths †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2. BMW Weaknesses †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3. BMW Opportunities †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4. BMW Threats †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5. Peugeot Strengths †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚ ¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6. Peugeot Weaknesses †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7.Peugeot Opportunities †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8. Peugeot Threats †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3. Comparison of two companies †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4. Recommendations †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5. Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6. Appendices †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7. References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1. Introduction This report provides data on the financial situation of two well-known automobile brands, BMW Group and PSA Peugeot Citroen, over 2009 and 2011. The purpose of the report is to evaluate the financial situation of these companies in order to make an investment decision in any of these companies.First part of the report provides brief description about the companies followed by the situation analysis of both companies. Third part of the report illustrates the comparison followed by recommendation and conclusion. The recommendation will be made based on the result of the situation analysis. BMW Group was founded in Germany in 1917. This is one of the most prospering automobile, motorcycle, and engine manufacturing companies. BMW Group has three one of the finest brands in this industry: BMW, MINI and Rolls-Royce (Annual report, 2011, p. 3).The other company PSA Peugeot Citroen was founded in Paris in 1976. PSA Peugeot Citroen offers automobiles and motorcycles worldwide (PSA Peugeot Citroen, 2012). Nowadays this automobile company is supplying its products to China, Latin America, Russia and Europe (Annual report, 2011, p. 4). 2. Situation analysis for BMW and Peugeot The following section will discuss the financial strengths, weaknesses, threats and opportunities of both companies. 2. 1 Strengths of BMW 2. 1. 1 Sustainability of the company Maintaining the profitability is vital for any firm in order to be remaining sustainable.From the profitability test, it is apparent that the company improved it’s profitability over the year 2009 to 2011. Gross profitability increased significantly from 13. 96% in 2009 to 24. 38% in 2010 and continued to climb up to 27. 79 by the end of 2011. 2. 1. 2 Excellent creditworthiness BMW has been assigned credit rating status as â€Å"stable† by both Moody’s (rating A2) and Standard & Poor (rating A) which indicates the firm’s sound solvency position to debt (www. bmwgroup. com). In addition, their interest cover ratio provides very positive indication as it increased from 3. 36 in 2009 to 9. 54 in 2011.By utilizing this status company will be able to attract potential creditor with lower interest rate. Therefore, their profitability will increase due to the lower interest expenditure. 2. 1. 3 Increase investment in research and development Investment in research and development (R&D) is significantly important in order to take competitive advantage and mai ntain sustainable growth. BMW is committed to in R&D to meet current and future demand. Their expenditure rose up by 13. 3%? to â‚ ¬2,773 million from 2010 to 2011. One of the most advantages of BMW is creative production (Annual report BMW, 2011).They invested extensively in the past 3 years towards improving the environment and reduction of the CO2 emissions by 30 %. They also introduced fuel efficient product line such as BMW i models in order to meet the current demand. Moreover, BMW is searching for alternative energy solution by electrification and utilizing solar energy in their future product range. By introducing new product line BMW could take competitive advantage over it competitors by attracting environmental friendly customers which would maximize their profit as well as their image as innovative company. 2. 1. Commitment to Employees training The company values its human resources and invests in attracting and training skilled workforce to boost the quality of its products by reducing error rate, waste in production. It will also help BMW to strengthen customer relation as trained employees would able to communicate with confident by utilizing their knowledge and skills which will increase customer satisfaction. Moreover, due to the training employees will gain confidence to communicate more clearly with management which will improve the relationship between employee and management.As a result disputes between labour union and BMW will be reduced (Bloom & Lafleur, n. d. pp 5 – 9) In 2011 expenditure on basic and further training rose sharply by 37. 4% to â‚ ¬246 million (Annual report BMW, 2011). 2. 1. 5 Social responsibility BMW signed the UN Global Compact and issued a â€Å"Joint Declaration on Human Rights and Working Conditions which demonstrates that BMW complies with the fundamental working standards of the International Labor Organization (Annual Report BMW, 2011). It also indicates that BMW is a socially responsible firm w hich will have a positive impact on the image of the company (Murillo & Martinek, 2009).BMW’s image as a good citizen would help to attract potential investors, creditors and customers who care about social responsibility of any company. 2. 2 Weaknesses BMW 2. 2. 1Operating efficiency Receivable turnover has sharply declined from 55. 04 in 2009 to 15. 93 in 2011. Inventory turnover has also declined from 14. 50 in 2010 to 5. 43 in 2011. Both ratios are below the industry norm, which indicates that management was not efficient enough to collect its receivables. This also indicates that sales and marketing department didn’t perform well compare to the competitors to increase the sales. . 2. 2 Sharp decline in sales: In 2011 BMW’s sales dropped by 37 % in the US which is the largest market outside Europe. If it continues to decline, BMW may lose market share significantly which would have a very negative impact on the profitability as well as it would be a threat t o the sustainability of the company. 2. 2. 3 Liquidity BMW’s ability to meet the short-term financial obligation is low comparing to the industry norm. If BMW don’t pay attention to increase the liquidity, it could turn into a threat from weakness. 2. 2. 4Market shareDecreasing global market share for BMW. It goes down from 2. 89% in 2005 to 2. 45% in 2010. (www. statista. com). This shows that demand BMW’s cars are decreasing which is a bad sign for company. 2. 3 Opportunities BMW 2. 3. 1 Utilizing the exist technology to produce more environmental friendly products: As this issue became an important for the society. (BMW Annual report, 2011, p. 19) states, â€Å" In September 2011, SGL Automotive Carbon Fibers – a joint venture of the BMW Group and the SGL Group – opened a new state-of-the-art carbon fiber manufacturing plant in Moses Lake, USA.The facility plays a major strategic role in the manufacture of ultra-lightweight carbon-fiber reinfor ced plastics (CFRP), which will be used extensively in the BMW i vehicles to be launched by the BMW Group from 2013 onwards†. BMW group is already having this idea, but they could get more profit if they increase the art carbon fiber plants. 2. 3. 2 Growth in Asia: Asian countries are encouraging the foreign investment and they have a cheap labor. In addition, the cost of capital is cheaper than Europe. These factors lead to less cost of production and higher revenue.In order to gain this benefit BMW adopted â€Å"Completely Knocked Down† (CKD) assembly to manufacture automobiles with partners in six locations such as Thailand, Malaysia, Russia, Egypt, Indonesia and India (www. bmwgroup. com ). This would help BMW to attract the large Asian market as well as increase market share in the region. 2. 3. 3 Increasing demand on sports car BMW is already produced a few sport cars and they have to increase the number of sport cars and promote them to championships and customer s who like this type of cars. In July 2011,  BMW  pulled the covers off of the  BMW M3 DTM Concept Car, a vehicle that was to be the basis of the actual racer that will compete in the 2012 DTM season† (www. topspeed. com). 2. 3 Threats BMW 2. 3. 1 Euro zone crisis: Current economic slowdown along with sovereign euro zone crisis may tremendously hurt the company as sales are declining in Europe. It might pose even greater threat if bigger economies like Italy and Spain has to default like Greece which will lead Europe into a recession (World Economic Forum, 2012).It would not only affect BMW’s sales in Europe but also rest of the world because recession in the EU will have adverse effect in the world’s economy (International Monetary Fund, 2012). 2. 3. 2 Changes in Trend: Recent trend in the usage of car, where wealthy people prefer cheaper/affordable cars instead of luxurious car (24/7 Wall Street, 2012). Due to this trend, BMW as a luxurious car manufactur er might lose sales revenue and market share. Ultimately, it would have negative impact on the sustainability of the company. 2. . 3 Disputes with labour union: Labour union in Germany is very strong where firing employee is very costly (Global Competitiveness Index, 2012). Any dispute with the labour union could have significantly negative impact on the business operation as union could go for strike which will break the whole supply chain. 2. 4 PSA Peugeot Citroen 2. 4. 1 Strengths Peugeot 2. 4. 2 Sustainability of the company Company’s overall profitability significantly increased from very negative profitability in 2009(gross profit on sale -3. 0% and return on sale -5%) to a positive profitability in 2011 (gross profit on sale 17. 10% and return on sales 1. 50%), which demonstrates management’s extraordinary performance to bring the company back into a sustainable position. 2. 4. 3 Operating Efficiency Over the years from 2009 to 2011 Peugeot demonstrated continuo us improvement of its operating efficiency as management was improved efficiency to collect receivables (receivable turnover 20. 63 in 2009 and 26. 98) as well as increased inventory turnover (7. 14 in 2009 and 9. 06 in 2011) which is higher than industry norm (6. 4).Though receivables turnover is lower than industry norm (34), Peugeot’s continuous improvement indicates that management is paying attention to improve in order to maintain the capacity of operating assets. 2. 4. 4 Diversified business segments Diversification in the business segment reduces the risk of failure as it reduces company’s dependency on one single segment (The Economics Times, 2012) The Group's operations are organized in five main business segments: the Automotive Division, the Automotive Equipment Division, the Transportation & Logistics Division, the Finance Division and other businesses. These segments increased revenue by 6. % from â‚ ¬56061million in 2010 till â‚ ¬59912 million in 2 011 (Annual report BMW, 2011). Due to the diversified business segments Peugeot will be able to offset of one segment’s loss from other segment’s profit. 2. 4. 5 Investment in research and development To meet the current and future demand Peugeot invest heavily in research and development. This French auto manufacturer has maintained its R budget at â‚ ¬2152 million in 2011, or 3. 6% of revenue in order to secure sustainability in the future (www. peugeot. com). In 2011, PSA Peugeot Citroen was the most active patent filer in France with 1,237 patents in all.This performance demonstrates the positive outcome of its exceptional investment in R. New patents would enhance the innovative product line which would differentiate Peugeot’s product from its competitors in order to gain competitive advantage. This indicates better future for Peugeot. 2. 4. 6 Affordable price with good quality PSA Peugeot Citroen offers high quality distinctive cars for affordable price and specifically targets middle class (annual presentation 2010 PSA Peugeot Citroen). It would help Peugeot to gain market share faster in the emerging market such as China, Brazil and India where the number of middle class is very large.Higher market share in the emerging markets would strengthen Peugeot’s position in the global automotive industry. 2. 5 Weaknesses Peugeot 2. 5. 1 Creditworthiness Recently, Peugeot’s credit rating has been downgraded from â€Å"stable† to â€Å"negative† by both international credit rating agency Standard & Poor and Moody’s which would negative impact on creditors confidence. As a result, their interest rate will increase as creditors might feel risky to invest (Mustafa, 2012, Class lecture). However, French government’s â‚ ¬7b credit guarantee for Peugeot might help to maintain creditor’s confidence which will keep the interest expense stable. . 5. 2 Declining sales in Europe: Peugeot’s s ales declined by 5. 75% in 2010 in Europe, it’s largest market and it remained stable in 2011. Moreover, sales dropped further by 10. 8% by the end of September 2012 (European Automobile Manufacturers’ Association, 2012) It indicates a potential threat for Peugeot to losing market share in Europe, if it continues further. However, increasing sales outside Europe 39% in 2011 compare to 32% in 2010 (Annual Report Peugeot, 2011) could help Peugeot to maintain market share in the global automotive industry. 2. 5. 3 Liquidity Since 2009 to 2011 Peugeot’s liquidity has declined from 1. 07 to 1. 4 which even lower than the industry norm. Decrease in liquidity could have negative impact on the operating activities as firm might run out of cash to meet short term obligations. 2. 6 Threats Peugeot 2. 6. 1 Unionized labour market: French labour market is strongly unionized which give labour union a very strong bargaining power. The recent announcement by Peugeot to cut 800 0 jobs in their French plant (BBC News, 2012) might create disputes with the union. Therefore, there is a huge risk that union could go for strike due to the dispute with Peugeot which might disrupt their supply chain and cost a considerable amount for the company.However, French government’s announcement to provide credit guarantee in exchange to keep these jobs (The New York Times, 2012) would help Peugeot to avoid dispute with the union. 2. 6. 2 Euro zone crisis: Economic downturn and euro zone crisis had a very negative impact on Peugeot’s sales in Europe as the market demand declined sharply which resulted a decline in sales by 5% in 2010 and. If it continues may be the sales will drop further. 2. 6. 3 Competition from other producers: Increasing market share gained by other affordable car producers such as Hyundai could hurt Peugeot. There is a risk that French firm could lose market share. . 7 Opportunities Peugeot 2. 7. 1 New Trend Peugeot would be able to attr act customers with high income people due to the new trend as more rich people buy affordable price car (24/7 Wall Street, 2012) This is a very positive indicator for Peugeot to increase market share by attracting this large segments. 2. 7. 2 Market shift to globalization Peugeot is focusing on specific markets in the world. Since globalization is facilitating world trade, Peugeot would benefit significantly from it’s expansion to the emerging markets in Asia, Latin America and Middle East (The New York Times, 2012). . 7. 3 Increase the demand of hybrid electric cars PSA Peugeot has a joint venter with GM to produce hybrid cars. The joint arrangement agreement was signed on 25 October 2011. The Group is committed to providing total capital of â‚ ¬63 million, of which â‚ ¬13 million had been paid as of 31 December 2011. Registered in the Netherlands. (Peugeot annual report 2011) 3. Comparison of BMW and Peugeot This section compares and contrasts of both company in order to identify the better option for investment. 3. 1 Sustainability Both BMW and Peugeot improved their gross profit.BMW is around 10% more profitable in terms of gross profit ratio compare to Peugeot. However, Peugeot had higher return on sales which indicates that management of Peugeot was more capable to control it’s variable cost. Peugeot was also able to generate higher return from its asset compare to BMW as well as industry norm this demonstrates the management’s ability to utilize its asset in order maintain sustainable profit. 3. 2 Management efficiency Management efficiency is lower than the industry norm for both companies. However, Peugeot’s management is more efficient than BMW in collecting receivables.It is also more efficient in inventory turnover, which indicates that Peugeot’s sales, and marketing department is performing better than BMW. 3. 3 Diversified business segments Peugeot’s business segments is more diversified that BMW th is would help Peugeot to reduce the risk because it can cover the loss of one segment from another segments profit. 3. 4 Market share Even though BMW has higher market share in certain market. However, it has declined gradually over the past several years while Peugeot has increased market share in the emerging markets such as China, Russia, India and Latin America. This indicates better future for Peugeot. . 5 Credit ratings BMW’s credit ratings are better than Peugeot because BMW’s credit ratings have been improved from negative to stable. On the other hand, Peugeot’s credit ratings have been downgraded in 2012 (Moody’s 2012) As a result Peugeot’s borrowing cost might increase while BMW will benefit from the lower interest rates. 3. 6 Interest coverage ratio BMW’s interest cover ability is considerably better than Peugeot, which is 9. 54 and 1. 68 respectively. Due to higher interest coverage ratio it will create more confidence in BMW, wh ich will reduce interest expense. 3. 7 Liquidity Liquidity for both companies is below industry average.However, Peugeot has higher liquidity than BMW. This indicates that Peugeot has better ability to cover the short-term obligations. 3. 8 New trend Demand for Peugeot cars would be higher than BMW due to the changes in trend and customer’s preferences as wealthy people are buying cheaper cars. However, increasing demand for sports car would provide benefit to BMW. 3. 9 Euro zone crisis Euro zone crisis has significantly affected on both companies. However, Peugeot has increased sales outside Europe from 32% in 2010 to 39% in 2011 while BMW lost 37% sales in 2011 in the US which is their biggest market.Due to the increasing sales outside Europe, Peugeot will be able to maintain overall sales revenue though there is decline in sales revenue in the European market. 3. 10 Political risk Political risk could negatively effect on both companies. However, BMW is more vulnerable in the Middle Eastern countries which are one of their biggest market due to Arab spring. 3. 11 R Both companies invested heavily in R but Peugeot was able to generate more patents than BMW. In 2011 Peugeot had in total 1237 patents (Annual Report 2011 Peugeot).Higher capability of invention would provide competitive advantage to Peugeot as it will be able to meet the consumers demand. 4. Recommendation The above analysis illustrates that both companies has strengths and weaknesses. However, Peugeot has more strength and opportunities than BMW. Peugeot’s strengths and opportunities are better sustainability, higher management efficiency, diversified business segments, better match with new trend and increasing market share in the emerging market. These strengths demonstrate that investment in Peugeot would be a better choice as the company’s future seems to be stronger and more sustainable than BMW.These also indicate that investment in Peugeot would be less risky. Theref ore, we recommend investing in Peugeot. 5. Conclusion In conclusion, different factors were investigated in order to come up with right decision regarding the investment in BMW or Peugeot. Some of these factors are related to profitability, efficiency, debt, R & D and market position. Some other factors are related to their products’ quality and customer satisfaction. All of these factors were analyzed for three years starting from 2009 to 2011. In addition, the SWOT analysis played an important role in our decision-making.However, after analyzing both companies’ situation and looking at their strengths and opportunities, Peugeot was the best choice to invest in. References BBC News (2012) Peugeot Citroen plans 8000 job cuts. Available at http://www. bbc. co. uk/news/business-18808662 [accessed 11 November 2012] Bloom, M. R. & Lafleur, B. (n. d. ) Turning Skills into Profit: Economic Benefit of Workplace Education Program. The Conference Board. Available at http://www. conferenceboard. ca/Libraries/EDUC_PUBLIC/Skills_Profits. sflb [accessed 10 November 2012] Murillo, R. H. & Martinek,C. J. (2009) Corporate Social Responsibility Can Be Profitable.The Regional Economist. Available at http://research. stlouisfed. org/publications/regional/09/04/socialresponsibility. pdf [accessed 8 November 2012] The Economics Times (2012) Nine Diversified Companies: Are these firm attractive investment proposition. Available at http://economictimes. indiatimes. com/features/slideshows/et-slideshows-made-here/nine-diversified-companies-are-these-firms-attractive-investment-propositions/nine-diversified-companies-are-these-firms-attractive-investment-propositions/quickiearticleshow/7390833. cms [accessed 5November 2012] The New York Times (2012) France to back Peugeot With 7 billion euro in credit.Available at http://www. nytimes. com/2012/10/24/business/global/france-to-back-peugeot-with-7-billion-euros-in-credit-guarantees. html? _r=0 [accessed 11 November 2012] Wo rld Economic Forum (2012) Global Competitiveness Report. Available at http://www3. weforum. org/docs/WEF_GCR_Report_2011-12. pdf [accessed 25 October 2012] International Monetary Fund (2012) Debt Crisis, as it happened. Available at http://www. telegraph. co. uk/finance/debt-crisis-live/9681567/Debt-crisis-as-it-happened-November-16-2012. html [accessed 16 November 2012] Appendices [pic] Figure 1: Source: [pic] Figure 2: Source: PSA Peugeot Citroen 2011 [pic]

Analysis of Act IV scene 1, in three different versions of The Merchant Of Venice Essay Example

Analysis of Act IV scene 1, in three different versions of The Merchant Of Venice Essay Example Analysis of Act IV scene 1, in three different versions of The Merchant Of Venice Paper Analysis of Act IV scene 1, in three different versions of The Merchant Of Venice Paper Essay Topic: Merchant Of Venice Play Act IV scene 1 is an intense scene in the play where we see many of the plays main themes such as justice and mercy, money and status, revenge, loyalty, love and prejudice and tolerance. Shakespeare presents a harsh character in Shylock the Jew, but the fact that he also gives him the chance to speak more than any other European playwright preceding him would suggest that his portrayal is not conventional but much more complex for example in his words in Act III scene 1, lines 57-58: I am a Jew. Hath not a Jew eyes? Hath not a Jew hands, organs, dimensions? Much of Shakespeares enduring appeal has been in his amazing portrayal of the complexities of the human condition for example Hamlet or Macbeth. Traditionally Jews were the evil villains of Elizabethan drama, frequently Machiavellian or greedy but unlike his contemporaries Shakespeares characters were never simply good or evil but embody the complex mix within each of us that makes us human. The main dilemma in staging this play today is in the consideration of Shakespeares possible anti-semitism and/or sympathies towards his character and indeed whether Shylock only represents the Jewish people or whether he is symbolic of oppression of minority races in general. Through Shylocks forced conversion in this scene we are reminded of the conversions of other religions according to the ruler of the time such as Henry VIII. This would suggest that Shakespeare is using Shylock as more than a symbol of Jewishness. In this piece of coursework I will be examining mainly how sympathetic or unsympathetic the various versions seem to be and how each Director has succeeded in making the character of Shylock worthy of Shakespeares realism. Jews were traditionally viewed as outsiders and were not citizens. Christians as far back as the 11th century could not lend money without interest and many Jews earned a living from this profession as they could not join the artisan guilds. As they became their own debt collectors they soon became the target of resentment. A myth was born; with which Shakespeares audience would have been familiar, of ritual murder or blood libel that Jews would kill adult Christians. It is to this myth to which Shakespeare seems to allude in the pound of flesh incident in this scene. Shakespeare is original in showing us the extent to which Shylock is oppressed by Christians surrounding him and it is through this that Shakespeare succeeds in drawing out sympathy from his audience. Analysis of Act IV scene 1 In the text of Act IV scene 1 before we meet Shylock he is described as a stony adversary, an inhuman wretch, incapable of pity, void and empty from any dram of mercy. Antonio describes Shylocks spirit as being full of tyranny and rage. When Shylock enters into the scene the Duke challenges him saying The world thinks, and I think so too, that thou but leadest this fashion of thy malice To the last hour of act, and then tis thought Thoult show thy mercy and remorse more strange than is thy strange apparent cruelty. At this point the audience is immediately drawn into the suspense of the scene. The Duke speaks for everyone in hoping that Shylock will back down. The combination of the Dukes speech on mercy and his hope for a gentle answer with Shylocks contemptuous reply serves to further provoke the audience. Calling Shylock Jew instead of using his name also manipulates the audiences reactions into thinking of the stereotype rather than the individual. At this point the Duke says Let him stand before our face suggests Shylock should stand centre stage for this speech. Shylocks reply to the Duke and onlookers is so long winded that he immediately loses favour. This speech would be effective if he was standing up as he speaks about his values. It is a central point in the scene as it is his first opportunity to defend himself but he does not elicit sympathy from his onlookers. He is instead twisting, evasive and difficult: So can I give no reason, nor I will not, more than a lodged hatred and a certain loathing I bear Antonio. He ends this key speech in his defence with an open admission of his hatred. His illustrations of animals, later paralleled in Antonios speech, are deliberately offensive. He plays with the words of Bassanio, twists them and turns them back on the speaker providing a quickfire dialogue which builds up the tension from the outset. The repeated references to the Jew suggest an element of anti-semitism. The imagery of the wolf and the lamb is very effective as it evokes both blood lust for an innocent creature and also the key theme of religion in the form of the lamb of God. His Jewish heart again evokes the stereotype of the unfeeling moneylender. The Dukes repeated pleas for mercy, a key theme in the scene, serve only to enforce Shylocks determination to have exactly what he is owed: the pound of flesh. Ironically this steadfast and unrelenting desire to have his bond is what ultimately results in his downfall at the end of the scene. There is a certain irony in Shylocks swearing on our holy Sabbath to have his bond as God teaches forgiveness. His demand of What judgement shall I dread, doing no wrong? conveys his arrogance as he seems utterly convinced of being in the right. When Shylock challenges his onlookers as to their treatment of slaves, this could suggest a defence of those oppressed and support the view that Shakespeares position was not only pro-Jewish but more globally in support of oppressed minorities in general. The climax of Shylocks claim is spoken with great force and evokes some sympathy finally when he alludes to how the pound of flesh is dearly bought. I would exploit this line as a key point in his speech. When he demands the fatal reply from the Court it is ironic as it is the intricacies of the law of Venice which eventually condemns him. He could conceivably be holding his bond in his hand at this stage for maximum visual impact. Bassanios words The Jew shall have my flesh, blood, bones and all are somewhat reminiscent of Shylocks earlier words in Act III scene I: I am a Jew. Hath not a Jew eyes? Hath not a Jew hands, organs, dimensions? His reference to one drop of blood also sets the scene for what will unfold and heightens the audiences suspense as to a possible blood libel. Gratianos pun on sole and soul indicate for us how Shylock is sharpening his knife. At this point sympathy for Shylock must be at its lowest as he does indeed come across as having bloody and ravenous desires and he again seems to dismiss Bassanios words with contempt. Antonio and Bassanio must surely end this section feeling thoroughly pessimistic. Their speech would surely be filled with tension and a desperate sense of urgency. With Portias arrival, however, the mood immediately lightens. As a symbol of Christianity her determined pleas for mercy provide hope for a more positive outcome and compel the audience further. Even Portia refers initially to Shylock as the Jew. Her lyrical and moving speech regarding the quality of mercy dropping as the gentle rain from heaven contrasts sharply with Antonios earlier speech on Shylocks lack of mercy: You may as well forbid the mountain pines to wag their high tops and to make no noise when they are fretten with the gusts of heaven. It also contrasts with Shylocks short punctuated sentences. When Portia suggests that Shylock will be blessed in return for showing mercy it is loaded with irony as at the end he is granted mercy regardless of not having done the same. Shylocks patience seems to be running out when he challenges Portias words: My deeds upon my head, I crave the law, the penalty and forfeit of my bond. I imagine this said with controlled anger. Throughout this speech Shylock remains determined and unmoved. He continues to make religious references and begins to compliment Portia on her apparent wisdom. He recites passages from his bond one imagines in a tone of expectation at things going his way. When Bassanio and Gratiano speak with great emotion of their own wives whom they would sacrifice for Antonios sake, their words are contrasted with Shylocks to great effect: I have a daughter. This for the first time really underlines the pain that Shylock has been caused and shows that rather than being a man incapable of emotion, that he too has suffered greatly and that this is at the root of his determination to have what he is rightfully owed. The change in mood at this point makes Portias verdict even more shocking and sudden. Ironically Shylock who seemed earlier to know every word of his bond now seems somewhat uncertain for the first time as Portia recites the word of the law to him: Is that the law? He then persists in d emanding the bond thrice and seems suddenly unsettled, edgy and in a hurry to depart. This is conveyed through his short, punctuated speech. Towards the end of the scene in a dramatic and ironic role reversal we see Shylock begging for his livelihood and his life: Nay, take my life and all, pardon not that. You take my house, when you do take the prop That doth sustain my house; you take my life, When you do take the means whereby I live. His poignant words I am content in reply to the verdict granted by the Court I imagine being said with utmost humility. His claims of being not well could elicit sympathy from the audience. We are reminded here of him as not only being a cantankerous man but primarily an old man, fragile and ephemeral like other humans. It is on this note that Shakespeare chooses to herald Shylocks exit. Discussion of version 1 The Channel 4 television version was produced and directed by Alan Horrox and starred Bob Peck as Shylock and Benjamin Whitrow as Antonio. This version was very traditional it was set in Venice in the sixteenth century and was filmed both in studio (Millennium studios) and on location in Venice. Music is also used in this version both during Portias speech on mercy and again when Shylock is going to cut Antonio this adds to the suspense of the scene. This version portrays Shylock in parts as a harsh character for whom you would show less sympathy. He is portrayed as a haughty character and points his finger at Antonio saying The pound of flesh which I demand of him is dearly bought, tis mine and I will have it. In a later part of the scene his haughty attitude is reinforced when he is again asked to show mercy he replies On what compulsion must I? Tell me that. Close up camera work was used effectively at this point. Shylocks character changes when he feels things are going his way, he grovels to Portia and praises her, he has a look of pleasure on his face when he unsheathes his knife and is ready to cut Antonio. When Shylock is about to cut Antonio he notices that he has a cross around his neck and so he pushes it over his shoulder demonstrating his dislike of Christianity. However, his attitude changes to one of shock when Portia stops him. From this point onward one is inclined to feel sorry for Shylock as he goes from being quite wealthy to losing everything because of his own stubborn attitude and lack of sympathy. At the very end of the scene when Shylock is on his knees you are inclined to feel sympathetic towards him. Discussion of version 2 Trevor Nunn directed this version and it starred Henry Goodman as Shylock and David Bamber as Antonio. It was filmed at Pinewood Studios. The setting was very stark with most actors wearing dark suits and it was set in the 1920s in between the two World Wars. Through this version we see the many different sides to Shylocks character. At the start of the scene he appears as an old man who has difficulty in walking which elicits a little sympathy. However, Shylocks character is strong and when he is insisting on his bond the previous feeling of sympathy changes to one of abhorrence. His dislike of both Christianity and Antonio is noted early in the scene by his facial expression when he states, More than a lodged hate and a certain loathing I bear Antonio, that I follow thus. Antonio further emphasises Shylocks Jewishness when he states As seek to soften that than which whats harder? His Jewish heart. here showing how Shylock is viewed as hard hearted. Feelings change again when Shylock says with regard to his daughter dearly bought as this evokes sympathy for him and close up camera work is used effectively at this point. Shylock speaks with anger refusing to show mercy and insisting on his bond. When Bassanio said Yes, here I tender it for him in the court, Yea, twice the sum, if that will not suffice, I will be bound to pay it ten times oer On forfeit of my hands, my head, my heart. If this will not suffice, it must appear That malice bears down truth applause was used effectively to show support for Antonio and to isolate Shylock. Shylock goes on to appear very happy and excited at the prospect of receiving his bond. However, when the tables are turned he is stubborn and refuses to beg for mercy this could evoke anti-semitic feelings as he is portrayed standing alone while Antonio has the support of his Christian friends. Although Shylock remained seated at the end I still felt sorry for him as he looked old and frail especially when he removed his Jewish hat and cloth placing them on the scales as he left. Discussion of version 3 This version was directed for television by John Sichel and starred Laurence Olivier as Shylock, Anthony Nichols as Antonio. The actors all wore Victorian costumes and the setting was like a board meeting with all in attendance sitting round it and the furniture was very ornate. This created a highly pressurised environment. Shylock was more confident and walked round the table, his voice was strong and facial expressions were used effectively to portray his emotions. Again we see the confident, stubborn man in early scenes when Shylock is demanding his bond. He shows his disgust and hatred of Antonio both by his facial expression and tone of voice, when he says a certain loathing I bear Antonio. He shows his confidence in his demands when he walks about saying What judgement shall I dread, doing no wrong? His feelings show pleasure as he smiles when sharpening his knife to cut his pound of flesh. He speaks with great arrogance when he says, On what compulsion must I? showing his determination to have what is owed. There is sarcasm in his voice when he refers to Christian husbands willing to sacrifice their wives for Antonio by saying These be the Christian husbands. The lighting was impressive throughout the scene and there was effective close up camera work during Portias speech, for example, when she said, It blesseth him that gives, and him that takes. and also when Shylock made the statement I have a daughter because this focused on Shylocks suffering for the first time.. In this version Shylock is a more arrogant character. He raises his voice and gets extremely angry and looks shocked and surprised when he asks the question Is that the law? At the very end of the scene you feel sorry for Shylock, as he seems old, fragile and weak. He looks as though he has lost everything in the world and he has to hold onto a pillar for support. He falls to the ground and is helped out of the room. The scene ends with just the sound of Shylock crying outside which is very effective as it emphasises his isolation. Comparison of versions and personal opinions Although all three versions told exactly the same story they all had very different settings and portrayed Shylock in a slightly different way although each one elicited sympathy for him. The Channel 4 version was very colourful and used traditional Shakespearean costumes. Lighting and music were used effectively and the setting gave the impression of a real courtroom. I felt some sympathy for Shylock in this version The Trevor Nunn version was simplistic, with most actors dressed in dark suits. It gave me the impression of rival mafia style gangs. The final version, which was done by the National Theatre Company, was my favourite. Laurence Olivier portrayed Shylock as a strong confident character who moved around the room making him appear more arrogant than in the other two versions but also eliciting sympathy. I felt this version was the best as it succeeded in conveying the complexities of Shylocks character. We saw both arrogance and frailty and I thought it conveyed the story as Shakespeare was trying to put it across in the text.