Cooking: Julia Child and Knife Skills Class Essay

Since I stopped devouring books and using the computer much (because reading triggers migraines), I’ve been bored. I hate being bored. Every hands-on craft I try causes wrist pain that I haven’t been able to conquer. Baking is fantastic, but consuming all that I make isn’t a smart dietary strategy. So I’ve decided cooking will be my new hobby. Although deciding to do something I’ve never particularly liked for fun is a little weird, it makes a lot of sense. I’d love to have a hobby again. I like food, I need to eat, and eating better food would probably make me feel better. By approaching cooking as a hobby instead of a chore, I hope it will be fun, not the high-pressure job of reforming my diet. Ideally cooking will become something I want to do, not have to do. These are the guidelines I’ve established so I don’t exhaust myself. Is it contradictory to set goals for a hobby? Use Simple Recipes I’m currently taking Mark Bittman’s (aka The Minimalist) no-nonsense approach: Make better food in less time with fewer ingredients. I’m starting small with his very short cookbook, How to Cook Everything: Quick Cooking. It isn’t an overwhelming tome, but a short introduction to tasty basic recipes. A perfect housewarming gift for someone in their first apartment, the book includes variations for the more experienced or adventurous cook. I’m supplementing with The Minimalist Cooks at Home for variety. (It’s out-of-print, but is available used. ) I’ve owned it for four years and have liked the few things I’ve made from his books. Now my plan is to approach it methodically. Like Julie and Julia, where blogger Julie Powell set out to make every recipe in Julia Child’s Mastering The Art of French Cooking. The Minimalist’s goals are much less lofty, but the idea is the same. Buy Ingredients for One Meal at a Time. This is to avoid wasting food and feeling like I’ve failed. I broke this â€Å"rule† one day into my plan. Because this is a new hobby, not a resolution, I’ve no need to beat myself up. Good things hobbies don’t have rules. Besides, I still think I can do it. Learn New Techniques This is the part that turns work into entertainment. I’ve always been reluctant to cook meat on the stove. In fact, I’m reluctant to cook meat at all. Not only do I get to produce an edible product (however bad it may be), I expand my skills and learn new recipes. This will make my hobby more fun in the future. Tomorrow I’m taking the knife skills class I’ve wanted to take for years. It’s a morning class, so I’m confident I’ll make it this time. I’m already daydreaming about future classes. Do It I made my recipe plan yesterday morning, then Hart called to say he had a work dinner. I felt crappy, so it was fine, but my motivation is far weaker than 24 hours ago. I hope applying the techniques of the knife skills class will boost my overall motivation. Clearly there’s little difference between my new hobby and a New Year’s resolution. Since resolutions usually fail, I’m relying on the power reframing. It’s an essential skill of every optimist.

The importance of music

Music first formed in ancient time and continued to develop simultaneously with civilization. It is said that without music, our world would become boring. Why music is so Important? Why many people spend a lot of time on listening to music? In fact, music affects us more than we know. Music plays Important roles in our life: It connects people, entertains us and has other uses In particular times. First, music connects people. Different ages, different classes of people come closer getting know each other through music.Specifically, many international encores was held worldwide in a Joint effort to exchange culture and struck up or develop friendship. The countries, as a result, can lead to a multilateral development agreements. Moreover, the people in those countries can be pleased thanks to the influence of music idols. In addition, music can heal the breach between people. It reduces seriousness among those who are in debates. Familiar melodies bring back their memories, throw th em back to their happy time In the past and it reconnects them In spiritual level. Besides, music encourages humanitarian actions.People often hold charity concerts and music makes them easy to emphasize with unfortunate lives. In other words, music brings us together. Second, music entertains us In many ways. After long hours working hard, listening to our favorite rhythm can help us relax or even stimulate our brain in order to keep on working efficiency. Furthermore, after a stressful day, music is one of the best ways to entertain. It can be exciting, gentle or soft, depending on the listeners' sense. An amazing way to enjoy music is to attend concerts, theaters or just turn on TV and sites to our favorite songs.Moreover, if you can play musical instruments, it will be the best way to enjoy music. Playing music by ourselves, we understand completely the song and get closer to the singer. Music is an important part of our life. Entertainment Is the thing cannot be denied when we talk about music. Finally, music also has many good uses to people. Apparently, with music, we can express ourselves, our feeling, our thought and our emotion. For example, when we are sad, we prefer to listen to sad song like † unchain melody † In order to show our sadness. Moreover, music can create particular atmosphere for different situation.For instance, people prefer to open solemn music in some formal occasions. One more use of music is that it builds up nation esteem. Specifically, when listening to nation anthem,we are proud of our country more than ever. In short, music has many incredible uses that strongly affect our thoughts, our emotion and our work. In summary, music plays important roles in our life. Not only are the young people influenced by music but also the old can't help enjoying the rhythm. Music relaxes us, assists us with many good things but its uppermost effect Is to bring us together.It is hard for us to Imagine a world without music, that wo uld be boring and full of sadness. The importance of music By painlessly 2 is so important? Why many people spend a lot of time on listening to music? In fact, music affects us more than we know. Music plays important roles in our life: it connects people, entertains us and has other uses in particular times. Their memories, throw them back to their happy time in the past and it reconnects them in spiritual level. Besides, music encourages humanitarian actions. People often Second, music entertains us in many ways.After long hours working hard, listening to amazing way to enjoy music is to attend concerts, theaters or Just turn on TV and Entertainment is the thing cannot be denied when we talk about music. Finally, music we prefer to listen to sad song like † Unchain melody † in order to show our sadness. Influenced by music but also the old can't help enjoying the rhythm. Music relaxes us, assists us with many good things but its uppermost effect is to bring us together . It is hard for us to imagine a world without music, that would be boring and full of

Book review for The Gangster We Are All Looking For by Le Thi Diem Essay

Book review for The Gangster We Are All Looking For by Le Thi Diem Thuy - Essay Example Thuy gives us a shared feeling of the situation and we are placed in layers of captivity by the elders unintentionally though! The circumstances were beyond the control of the Vietnamese elders. Loss of identity and the ensuing struggles was the first phase in their life. Dealing with the consequences and ensuing struggle to get accustomed to the new surroundings was the second stage. The third stage was breaking free from the past and looking forward to the new horizons. By and large Vietnamese-Americans have translated into reality that every crisis is an opportunity and they have gone through the difficult process of establishing the new identity. One important question is whether the author is sincere about her writings. I have no doubt about that and she has recorded the narrations without any motivated desires and as such I give more credence to the narrations than any researched material. This history of this family is like the barometer of the history of Vietnamese people in relation to America. From destruction of identity to its reconstructions is not an ordinary effort. Certain features of the lost identity are lost forever and they can never be recouped, and the only possibility is their fond and painful recollection. The author asserts that she gets some satisfaction by thinking about the palm trees of Vietnam, her parent’s love story, the â€Å"gangster† dispositions of her father, and she even does not hesitate to name her mother as â€Å"bad ass†. The unfortunate incident of the death of her brother constantly bothers her. In the end, the novel leaves the reader directionless and destination-less. That perhaps was the plight of millions of Vietnamese people who suffered untold miseries on account of the long war. The suffering of the near and dear ones of the Vietnamese and Americans soldiers who died was also intense. Besides being a writer, Thuy, is a performing artist. She was born in Vietnam and her parents left Vietnam along with her. The family settled in San Diego. The author writes, â€Å"We live in the country of California, the province of San Diego, the village of Linda Vista.†(88)The author now lives in western Massachusetts. Her parents lived a violently troubled marriage and the author had to put on with this private family war and it must have impacted her psyche as an adolescent as her mind was impressionable. About her father the author writes, â€Å"...my father, a Buddhist gangster from the North...† (79) Like other Vietnamese who suffered on account of the war, the beginning of the new life was extremely tough for them, as they were seized with grief, longing and cravings for love. Every incident narrated in the story, has the reflection of these three elements. At the psychological level, the author enjoys a love-hate relationship with America. The atrocities committed by the American Army and the resultant devastation to many thousands of families were part of the hi story. America was then protector to a number of Vietnamese also, as the country was caught in an ideological civil war, which the author considers as more damaging than the American war. Coming to terms with the American way of life was not optional, but destined compulsion. She found everything new, the threatening technology embraced every segment of life, the cultural gap and the racist behavior of schoolmates, who clubbed all Southeast Asian immigrants as â€Å"

Writing Assignment # 2 Essay Example | Topics and Well Written Essays - 1000 words

Writing Assignment # 2 - Essay Example First, there is no performance management system in place hence it is difficult to appraise or evaluate performance of workers. Since performance is not measured, the training and development needs of employees are also difficult to recognize. Further to that, it will be difficult for her to determine who deserves a promotion, a pay rise or who to transfer to another location if a vacancy arises as the knowledge, skills and abilities (KSAs) of employees are not known. Another difficulty is aligning the jobs of employees with organizational objectives. Since there are no performance expectations or targets set, it is difficult to know if the employees are moving in the right direction and if company objectives are being achieved. Moreover, it is difficult to design rewards for performance if performance is not measured in the first place. This poses difficulties for HR director of improving performance through motivation. Lastly, it is difficult for her to help employees progress with their careers if no performance management plan is in place. As regards compensation, many difficulties are bound to be faced. Compliance with the law is vital for an organization which seeks to reduce costs of litigations. Since there is no strategy as to how employees will be compensated as employees are paid by number of hours logged in, it is likely for HR Director to come into conflict with the law such as law on wage and hours or pay legislation. There may also be problems with worker retention due to poor compensation. The HR Director will have to address the type of compensation plan to be put in place. It is to be based on task or skills, internal equity or external competitiveness, or is it fixed or variable? These concerns must be addressed and they are complex especially because they have to be in line with company objectives while at the same time in compliance with labor laws. One alternative to improving performance is

Preparing for Executive Roles Essay Example | Topics and Well Written Essays - 250 words

Preparing for Executive Roles - Essay Example Therefore, they should make their strategies known by their subjects (Goleman, 2000). As leaders of a group, an executive officer should always be ready to take the blame if the projects that they are working on fail to work (Charan, Drotter& Noel, 2010). When it comes to decision making, it is always advisable to base one’s decisions of detailed information instead of using instincts (Kouzes& Posner, 2003). In order to spend more time with lower-level employees, an executive officer should make sure that he makes frequent casual conversations lower-level employees (Kampa-Kokesch& Anderson, 2001). This will help in knowing exactly how they feel about your leadership (Bass & Bass, 2009). Good listening skills can be applied through occasionally allowing employees to give their feedback during meetings regarding their performance and the performance of the team (Chait, Ryan & Taylor, 2011). When making decisions, an executive officer might benefit by letting the employees know what the decision is aimed at achieving and letting them give their opinions on the most appropriate choices that can be of benefit to the organizations (Daft, 2014). Before, giving out any responsibilities or introducing a project, a manager should introduce the strategies that they aimed at using to make the project a success (Cohen &Prusak, 2001). Accurate information can be sourced by making sure that the organi zations have all the resources that are needed in collecting the relevant information (Cross&Prusak,

Argument Essay Example | Topics and Well Written Essays - 750 words - 9

Argument - Essay Example The Galaxy Tab S ad https://www.youtube.com/watch?v=g3Kjj2ca4oQ is an example of an ad that uses sexual imagery, consumers’ love for reality and capitalizes on panic and paranoia to manipulate the audience into buying products which they apparently do not need. Moreover, advertisers use sexual imagery to chemically hook up the consumers. Naturally, after seeing someone attractive, the body’s natural response is to produce hormones. Subconsciously, the mind then associates the positive feelings with the product or service on the screen. This is why the designers of the Galaxy Tab S ad had to include a beautiful woman in the commercial and create an environment that instantly makes one think of love and romance even though the tab has got nothing to do with affection and amorousness. The cuddling, inclusion and mentioning of pregnancy all serve to create an emotional appeal that the audience can hardly resist. The creation of emotional appeal has served as an impeccable way of reflexively manipulating consumers considering the importance that they attach to the opposite sex. Taking the consumers away from the world of reality into the world of fantasy is significant as it makes them humorous and regaled. Unsympathetically, some commer cials evidently infringe ethics and norms by posting nude images just to entice the consumer. Such commercials erode morals while escalating the profits of the marketers. Slowly, the once moral society is closely being replaced with impunity, treachery and deception. Marketers are aware of the ostensible fact that consumers care about their health. One aspect that arouses panic and paranoia in consumers is the issue of their health as virtually all of them desire good health and a healthy tomorrow. They create ads that target specific audiences such as travellers, aficionados, expectant women

Pyschology Cast study assignment Essay Example | Topics and Well Written Essays - 1500 words

Pyschology Cast study assignment - Essay Example (Plante, 2005: 63). They believe in themselves, but their perception of their own self image is also affected by the feedback from others. In Steven’s case, his father’s constant criticism and ridicule in childhood, coupled with a lack of the father’s love, time, care and support may have threatened Steven’s image of himself as a strong person and a real â€Å"male†, thereby affecting his self esteem. In effect, his father’s behavior was tantamount to rejection of Steve, especially when he failed to sympathize with Steve when he was bullied, further eroding Steve’s self image as a male through a failure to identify with the only male he knew as a child. This has only been compounded by his mother’s attitude to him. Abnormal behavior may arise when the spectrum of basic needs that an individual has, such as air, water, food, love, belonging and self actualization, are not satisfied. (Simson and Strauss, 2003: 178). Steven’s mother was too affectionate to her son, so when she abruptly refused to let Steve into her bed, it appears likely that the boy would have perceived this also as a rejection. The causal act leading to the rejection was his masturbation, but he is unable to control this, thus placing him in a position where masturbation in the presence of a real woman appears wrong – leading to feelings of anxiety and guilt, with an impairment in his sexual function, as evidenced in his failure to perform with his girlfriend. Steven’s anger at his mother for ‘rejecting’ him is expressed in his anger against women, and the only time he is able to allow his sexuality to thrive without associat ed feelings of guilt, is when he sees celluloid women being hurt and violated because this makes him feel powerful. The feelings of depression Steven has been suffering from can thus be attributed to the conflict between his self worth and the reality of his parents’ ‘rejection’, which has produced feelings of anxiety and

Response Paper 1 - Enacted Environment Essay Example | Topics and Well Written Essays - 1500 words

Response Paper 1 - Enacted Environment - Essay Example They succeed in some ways and fall short in others. However, even more than falling short of explaining themselves adequately, their arguments simply only apply in some cases but not all. It is my belief that their ideas are very helpful in cases in which they are applicable, but there are many cases in which these ideas do not apply. There are reasons why the traditional practices of strategic management have been used for as long as they have by so many businesses, and there is something to be said for using them, so I can see this argument from both sides. What the authors are saying offers a new and useful perspective that can certainly be helpful when it applies, and their view is something that most managers fail to even acknowledge and can benefit from recognizing. However, I do not think it should be presented as the only possible view that applies, as traditional strategic management views really are the most useful in some situations. Yes, managers must look at themselves a nd their situations objectively, but external trends and consumer patterns cannot be ignored. It is true, as the authors of this article claim, that it is important for managers to look within themselves and their organizations when attempting to solve problems, but managers also need TEXAS SOUTHERN judge judy to observe what is going on in the market and in the minds of consumers, because their opinions and misconceptions are very real. Ultimately, it definitely makes sense to unlearn debilitating concepts and to take risks that others refuse to take, but it does not make sense to do this instead of looking at the environment. Why not do both? In my opinion, their refusal to consider the other methods is just as dangerous as the idea of using only the other methods exclusively. In terms of whether or not the authors convinced me, the answer is â€Å"somewhat†. While their analogies were helpful, none of the examples really proved an instance in which their perspectives worke d better than others; the only examples given listed failures of the other models to work and how these failures could have been prevented or corrected using their model, instead. Understandably, their model has probably not been used by many companies yet, and if so, it probably has not been studied in practice, so these examples were likely difficult to find. Ultimately, my conclusion is that the authors are correct that it is dangerous for a person to become confined by his or her own beliefs to the extent that that person has created an environment in which things can only be done a certain way, and he or she will not consider stepping outside of the box. However, whether accurate or not, consumers do have very real beliefs and behavioral patterns that should not be denied or overlooked for the sake of self-analysis. With regard to what difference this article’s ideas will make to the way I view or practice management, the authors do a good job of emphasizing the importan ce of looking inward first, before blaming outside factors for influence or failure, so this is something I would change or implement. One example of an external environmental factor that came to mind as I was reading this article is the way that â€Å"the economy† has sort of become the buzz word for consumers these days. Everyone uses â€Å"the economy† as the reason for everything, whether or not it has personally affected them. Consumers use

Midterm Essay Example | Topics and Well Written Essays - 2000 words

Midterm - Essay Example Thus, globalization per se, is vital ingredient of development that is distinct in its economic integration of resources, transforming social values and shifting power dynamics across nations. 2. What is globalization? Brawley (200, p.21) asserts that globalization is driven by technology that accelerates integration of economic forces vis-a-vis market, firm, production and national financial system on a global scale with wider ramifications on the socio-political dynamics of nations across globe. The multi-dimensional aspects of globalization emphasize new business imperatives that promote significant shift in division of labor and acts as catalyst for new socio-political order. Guttal (2007, p. 524) rightly argues that neo liberal policies facilitate process of globalization and various factors like fiscal reforms, liberalization of trade, convergence of knowledge and technology etc., undertaken on national level encourage creation and distribution of wealth across larger area of p olitical economy. Globalization therefore leads to new global economy and development where benefits cascade down to more people in the world. 3. Why globalization? Change is inherent part of development and process of globalization emerged gradually from the fundamental compulsions to infuse financial aids to poverty stricken nations, who were stripped of their wealth by the colonial rulers by the wealthy nations. But the aids were conditional to local reforms and economic liberalization that attracted foreign businesses (Schaeffer, p.8). This gradually led to globalization where emigration and immigration of people was seen as important part of growth, creating not only wealth but also influencing the socio-economic and political transformation of states. Today, it is intrinsically linked to development and serves as a major tool to advance and promote the interests of people from diverse background across the globe. Hence, it has emerged as hugely crucial process that impacts gro wth of individuals, business and nations and promotes creation of wealth leading to development. 4. Government controls and Global compulsions In the current environment of globalization and highly competitive business, inter-dependency of resources has compelled nations initiate reforms and economic liberalization for attracting foreign investment. Economy today, is market driven that has necessitated opening of domestic market for global businesses. The major stumbling blocks to globalization processes are: taxations, currency fluctuation, inflation, government laws, restriction in trade, exit policies, ownership etc. Deregulation of control therefore, becomes essential for creating facilitating environment for foreign business. The national policies and legal parameters therefore emerge as vital ingredients that promote trust amongst foreign business and domestic actors thereby creating conducive environment for business with diverse consequences for people in different setting ( Shaeffer, p.11). The government initiatives in liberalizing economic policies that give incentives to FDI and welcome privatization greatly attract foreign businesses. At the same time, government control helps to reduce risk and misuse of power by the big corporate bodies and

DIGITAL DIVIDE Essay Example | Topics and Well Written Essays - 500 words

DIGITAL DIVIDE - Essay Example Based on the attributes, scores were developed and the scores became the basis for building an overall score on digitization with a scale of zero to 100 with 100 representing as the measure with the highest level of digitization. The Global Technology Report 2012 defined digitization as â€Å"the mass adoption of connected digital technologies and applications by consumers, enterprises, and governments† (Dutta & Bilbao-Osorio, 121). However, the way that The Global Information Technology Report of 2012 defined the economies appears to indicates that no other finding would be possible except the finding that as an economy move from a constrained economy into an emerging economy and then ultimately into a transitional economy and eventually into an advanced economy, digitization would increase. â€Å"Constrained economies† were defined as economies with digitization scores below 25, â€Å"emerging economies† with digitization scores of 25 to 30, â€Å"transitional economies† with digitization scores of between 30 to 40, and â€Å"advanced economies† with digitization scores of greater than 40 (Dutta & Bilbao-Osorio, 122). Expectedly, The Global Information Technology Report of 2012 obtained Figure 1 on the relation between economy type and digitization for 150 economies of the world. Based on The Global Information Technology Report of 2012 , the constrained and emerging economies include Ethiopia, Morocco, India, Egypt, China, Algeria, Thailand, Indonesia, Kenya, Angola, Lao PDR, Cuba, Iraq, Bangladesh, Uganda, Peru, Mongolia, Georgia, and Guatemala. The transitional economies include Turkey, Mexico, Saudi Arabia, Mauritius, and Chile. Finally, the advanced economies include the United States, Canada, Switzerland, South Korea, Austria, and Australia. The countries enumerated are representative countries only. The association between GNP per capita and digitization

Project on Cement Essay Example for Free

Project on Cement Essay Any accomplishment requires the effort of many people and this work is no different. I especially thank Mr. R.K.Gupta; Director of Cii CITMS, whose support and patience was instrumental in accomplishing this project. I would like to thank our Faculty Guide Miss.Pubali Koley whose diligent effort made this project possible. My grateful acknowledgement to all the staff member of Ultra tech Cement limited for their support and cooperation. At last again I want to extent my thanks to all the teachers of Cii CITMS – Durgapur for giving support and confidence for doing this project. [pic] This ambitious project at ULTRATECH CEMENT under the project title â€Å"ADVERTISING AND PROMOTIONAL STRATEGY† has been carried out under the able guidance of company institutional experts. The vision or the objective of this project was to identify the Advertising needs. As the growth is a continuous process, so it is also very much important to find out the corners or the areas where the scope for the development is present. The effectiveness of the Advertising was also under the scan during this period where it is observed that the effective Advertising can effectively maximize sales volume revenue. This Advertising process is also effective to manage the planned sales strategy. The Advertising process at WEST BENGAL CEMENT WORKS is judiciously planned Divided into four parts. This practical project helped a lot to get the knowledge from all the avenues of the Marketing Management it is also perceived that it will help the company time to time in its growth process. Introduction T he function of Advertising is to close the gap between the desire performance and the actual job performance. The need for quality Advertising program is on the increase due to the fact that the highly competitive business environment is throwing up new and complex challenges, literally every day. New and complex services are coming into existence, thereby pushing up the need for high- quality Advertising program. Due to the slowdown in the economy, many jobs are coming into existence, many jobs cuts are taking place leading to a situation where works must retain themselves to stay employed in the same organization or to complete in the market place. [pic] †¢ To identify importance of Advertising in the organization. †¢ To identify the specific Advertising area. †¢ To identify the effectiveness of different types of advertising. †¢ To identify the best methods and techniques for advertising. †¢ The development of Advertising and sales promotion schemes to meet desired goals of organization. ââ€"   Increase in sales volume ââ€"   Maximize profit ââ€"   Developed sales promotion schemes [pic] ↠ Because of busy schedule of the employees the interview was quite tough after a quite of waiting time. ↠ Most of the executives were too busy, thus to obtain the desired accurate data there was a need to take the prior appointment from them. ↠ 50% of the sample size were not giving the correct feedback (due to varied hidden reason), thus there will be variance in the outcome of the study. ↠ Most of the employees were not confident about the proper management (misuse) of the information provided by them. ↠ They were also often reluctant in identifying the needed information. [pic] TITLE: â€Å"Advertising promotional strategy† at West Bengal Cement† Works.† Research methodology is the method through which the project has been done. This includes various sources of collecting data. TARGET GROUP: The target group for the survey was Managers, Officers, Supervisors and of â€Å"ULTRA TECH CEMENT LIMITED† and press releases. SAMPLE SIZE: Out of 38 employees, 35 were taken as a sample for the survey QUESTIONNAIRE The company is having small number of staff. So, the questionnaire was made mainly for Managers, Officers and Supervisors. Some specific questions have been prepared relating to the topic and have been analyzed in such a way that it can fulfill the objective of the project. FORMAL INTERVIEW: Formal interview has been taken during the non peak office hour. [pic] [pic] UltraTech [pic] OUR VISION TO BE PREMIUM GLOBAL CONGLOMERATE WITH A CLEAR FOCUS ON EACH BUSINESS OUR MISSION TO DELIVER SUPERIOR VALUE TO OUR CUSTOMER SHAREHOLDERS, EMPLOYEES AND SOCIETY AT LARGE OUR VALUES INTEGRITY, COMMITEMENT, PASSION SEAMLESSNESS AND SPEED UltraTech [pic] West Bengal Cement Works OUR RESOLUTIONS – 2009 †¢ ‘ZERO’ BREAK DOWN †¢ GOOD HOUSE KEEPING †¢ TRUST AND SUPPORT R.B.SINGH Sr.dy.general manager COMPANY PROFILE Company Name:UltraTech Cement Limited (An Aditya Birla group of company) Industry : Cement manufacturing Type of Company: Public Limited Company Unit Name Address:West Bengal Cement Works Near EPIP, MUCHIPARA, G.T. ROAD Post-Rajbandh Durgapur-713212 District- Burdwan West Bengal Registered Office : UltraTech Cement Limited B- Wing, Ahura centre, 2nd floor Mahakali Caves Road Andheri (east), Mumbai-400093 Board of Executives †¢ Mr. Kumar Mangalam Birla, Chairman †¢ Mrs. Rajashree Birla †¢ Mr. R. C. Bhargava †¢ Mr. G. M. Dave †¢ Mr. N. J. Jhaveri †¢ Mr. S. B. Mathur †¢ Mr. V. T. Moorthy †¢ Mr. O. P. Puranmalka †¢ Mr. S. Rajgopal †¢ Mr. D. D. Rathi †¢ Mr. S. Misra, Managing Director Board of Directors Executive President Chief Financial Officer Mr. K. C. Birla Chief Manufacturing Officer R.K. Shah Chief Marketing Officer Mr. O. P. Puranmalka Company Secretary Mr. S. K. Chatterjee AT THE HELM ULTRATECH The Aditya Birla Management Corporation Private Limited is the Groups apex decision making body and provides strategic direction to Group companies. Its Board of Directors comprises: †¢ Mr. Kumar Mangalam Birla, Chairman †¢ Mr. S. Aga †¢ Mr. D. Bhattacharya †¢ Mr. S. K. Jain †¢ Dr. S. Misra †¢ Mr. S. Misra †¢ Dr. B. K. Singh †¢ Mr. K. K. Maheshwari †¢ Mr. Vikram Rao †¢ Mr. Ajay Srinivasan MILESTONES [pic] 2009 †¢ Grasims pulp and fibre division has won the highly prestigious Asian CSR Award. The Asian CSR Awards, Asias Premier CSR Awards program, is a project of the Asian Institute of Management, Manila. †¢ The Ministry of Labor and Social Welfare, Government of Thailand will be conferred â€Å"The Best Labor Relations and Welfare Award, 2009† on Indo Thai Synthetic Company Limited. †¢ Birla Sun Life Mutual Fund has been named The Asset Management Company of the Year, India, by the Hong Kong based magazine, The Asset, in the country awards category of their Triple an Investment Performance Awards 2009. †¢ CNBC TV18 Crisil recognized Birla Sun Life Mutual Fund as The Mutual Fund House of the Year in 2008 and 2009 (for 2007 and 2008), creating history as the only fund house to have won this recognition in two consecutive years. †¢ The Birla Sun Life Equity-Linked FMP won the Best Local Currency Structured Product-India at Triple an Investment Performance Awards 2009. †¢ The Best Onshore Fund House India Award by Asian Investor, a Hong Kong based magazine at Asian Investor Investment Performance Awards 2009†. †¢ Rajiv Gandhi Award for Eminence in Social Field, 2009 was conferred on Mrs. Rajashree Birla by Mr. Jyotiraditya Scandia (Union Minister of State, Commerce Industry) on 19 August 2009. The award recognizes Mrs. Birlas path breaking work among the poor, more so in Indias villages, carried out through the Aditya Birla Centre for Community Initiatives and Rural Development. †¢ Idea Cellular wins the Economic Times Emerging Company of the Year Award for 2009. MILESTONES [pic] 2008 †¢ The President of India, Mrs. Pratibha Patil conferred the much coveted Rotary International Polio Eradication Champion Award on Mrs. Rajashree Birla in an elegant function at the Rashtrapati Bhavan (Delhi), attended by the Chairman, select Rotarians and WHO officials. †¢ The Aditya Birla Group was honored with the India Today Groups Readers Digest Gold award in recognition of the work that truly exemplifies the highest values of society as well as those of Readers Digest. The award was received by Mrs. Rajashree Birla, Chairperson, and Aditya Birla Center for Community Initiatives and Rural Development, at the Pegasus Corporate Social Responsibility Awards 2007 function. MILESTONES [pic] 2007 †¢ Hindalco in a joint venture with Alex USA Inc. Tran Works Information Services announces success of bid to acquire Minacs Worldwide. †¢ Grasim Industries Limited, India; Thai Rayon Public Company Limited, Thailand and P.T. Indo Bharat Rayon, Indonesia form a JV with Hubei Jingo Wei Chemical Fibre Company, China, for VSF. †¢ Hindalco awarded the Genentech Safety Silver Award for its outstanding safety performance during 2005-06 †¢ Hindalco awarded the CII Sorabji Green Business Centre National Award for Excellence in Water Management 2007. [pic] 2006 †¢ Indian Rayon re-christened as Aditya Birla Novo. †¢ Aditya Birla Group to set up a world-class aluminum project in Orissa. †¢ The Aditya Birla Group signs a framework agreement to acquire St Anne Nackawic Pulp Mill, Canada. †¢ Board reconstituted with Mr. Kumar Mangalam Birla taking over as Chairman. †¢ Completion of the implementation process to demerge the cement business of LT and completion of open offer by Grasim, with the latter acquiring controlling stake in the newly formed company UltraTech. †¢ Grasim, Nada, received the FICCI Annual Award 2003-2004 in recognition of corporate initiative in rural development. MILESTONES [pic] 2005 †¢ Mr. Kumar Mangalam Birla, Chairman of the Group, is selected as Business Indias Businessman of the Year 2003. †¢ Mr. Kumar Mangalam Birla is selected as The Economic Times Business Leader of the year. †¢ The Group is ranked 16th in Indias first ever survey of Great places to work in, published in Business World magazine. The Groups joint venture concern, Birla Sun Life Insurance, is ranked 9th in the same study. †¢ The Group is ranked 20th in a study on the Best Employers in India, conducted by Hewitt Associates and Business Today. †¢ Hindalco receives the Asian CSR Award for its Rural Poverty Alleviation Program. LOCATION OF W.B.C.W IN WEST BENGAL [pic] Organizational environment West Bengal Cement Works has rail road connectivity to meet inward outward logistics requirements. The private railway siding is connected to main line of eastern railway at Durgapur, which is 8.72 KM from plant. The cement is packed in bags with the help of three packers operating round the clock. The packed cement is dispatched to various destinations by road rail. Organization Culture ⠝â€" Purpose: To produce the cement as per marketing requirement with minimum cost. ⠝â€" Objective: Zero breakdown, Good Housekeeping, building trust support. ⠝â€" West Bengal Cement Works is having following facilities: âž ¢ Clinker unloading by wagon tippler (cap. 15 trips per hour) âž ¢ Fly ash bowers unloading system âž ¢ Cement mill with 1.0 million ton per annum capacity âž ¢ Cement dispatch facility by road rail âž ¢ Clinker, Gypsum fly ash receipt by rail road respectively Land Details: o Factory:61.67 Acres o 16 flat residential complex:10202.4 Esq. o Assisted siding:2830 M. o Private assisted siding:2210 M. WHY DURGAPUR? West Bengal Cement Works (WBCW) is the 10th cement manufacturing unit of Ultra Tech Cement Limited, Which is located at Durgapur. ⠝â€" RAW MATERIALS Clinker : Hirmi Cement Works Fly Ash : Bakreswar Thermal Power Station Durgapur Project Limited (DPL) Gypsum : Hindi Liver Chemicals, Haldia Slag : Durgapur Steel Plant (DPL) Bokaro Steel Plant POWER : GPL, DVC TRANSPORT : North Eastern Railway, National Highway-2 WATER : River Damodar MARKET : Local Growth of City development LAND : 62.92 acres of good land for Construction. CAPITAL : Huge number of Bank for getting easy Cash MANPOWER : Available amount of skilled and Unskilled Labors from local area DEMOCRACY : Good demographic structure is found Here CEMENT PROCESS GYPSUM from Yard Gypsum hopper Electronic weigh feeder SLAG from Yard Slag hopper FLUASH from Bin Supplied SCHENK For accurate quantity CLINKER from Silo Slag hopper to Mill SEPAX SEPARATION CEMENT PACKING PLANT PRODUCT MIXESPacking in 50 kg bag with electronic packer loading in truck or rack PORTLAND POZZALANA CEMENT CLINKER : 70-74% FLYASH : 20-25% FLYASH : 3-4% PORTLAND SLAG CEMENT CLINKER : 50-54% SLAG : 40-42% GYPSUM : 3-5% Plant Layout [pic] A Partial View of West Bengal Cement Works [pic] [pic] ON [pic] [pic] ââ€" ¡ Advertising is the dissemination of information by non personal means through paid media, where the source is clearly identified as the sponsoring organization. Advertising is one of the important components of the promotion mix. It is a powerful communication medium and a vital marketing tool. FEATURES: ââ€" ¡ Advertising is one of the methods of promotion mix. ââ€" ¡ It is a paid mass communication, not aiming at a specific individual. ââ€" ¡ It is salesmanship in writing or printed salesmanship. ââ€" ¡ It is undertaken to influence the buying behavior of the customers. ââ€" ¡ The communication media are diverse such as print (newspapers and magazines), broadcast (radio and television), and direct (mail, billboards and motion pictures). `NATURE OF ADVERTISING ↠ Element of Marketing Mix ↠ Promotion Mix ↠ Mass Communication ↠ Massages ↠ Price of Advertising ↠ Sponsor ↠ Persuasive ↠ Element of Control ↠ Identifiable ↠ Target Group SCOPE OF ADVERTISING ↠ Effectiveness of Massages ↠ Appropriate Media ↠ Merchandise ↠ Advertising Functions ↠ Responsibility of Advertiser ↠ Fulfillment of Objectives ↠ Generates Various Activities ↠ Advertising as an Art Science PRIMARY FUNCTIONS OF ADVERTISING: âž ¢ To increase sales âž ¢ Persuading dealers to stock âž ¢ Assisting dealers to stock âž ¢ Increase in per capita use âž ¢ Recognition for quality âž ¢ Protecting manufacturers’ interest âž ¢ To eliminate seasonal fluctuations âž ¢ Creation of demand SECONDARY FUNCTIONS OF ADVERTISING: âž ¢ Oral support to salesman âž ¢ To furnish correct information âž ¢ Ensures product improvement âž ¢ Sense of security âž ¢ Appointment of efficient employees †¢ The scope of Advertising includes these activities such as selection of media, communication with customers, and maintenance of brand loyalty and so on. Advertising Objectives: ââ€" ª Simulating Demand : âÅ"“ The current user of a product may be persuaded to increase the existing rate of product consumption. This may be reminding them about the product, its brand and the possible advantages of the product. âÅ"“ The second way of stimulating demand for the product is to attract new user into the market by telling them the qualities of the product and possible uses so that they may change their brand. âÅ"“ The third way of stimulating demand is to tell the current users about new users of the product so that customers may use the company’s product for several other purposes. ââ€" ª Increasing profits âÅ"“ Advertising does increase sale of the product. âÅ"“ Advertising will reduce various ‘marketing costs’ Specific objectives of Advertising: âÅ"“ It introduces new product to potential customers. âÅ"“ âÅ"“ It promotes the brand by repeat purchase leading to brand loyalty. âÅ"“ It increases the timing and number of uses. âÅ"“ It builds the product and company image. âÅ"“ It sets the trend by changing perception and behavior. âÅ"“ It aids sales promotion campaign. âÅ"“ It shoots up the sale and increases the market share. âÅ"“ It answers the competitive attacks. Reminder advertising: †¢ Reminding them where to buy it. †¢ Maintaining its top of mind awareness. ââ€" ª Information Advertising : âÅ"“ Informing the market about a new product âÅ"“ Suggesting new uses for a product. âÅ"“ Informing the market of a price change. âÅ"“ Explaining how the products work. âÅ"“ Describing the available services. âÅ"“ Correcting the false information’s. âÅ"“ Reducing consumers fears. âÅ"“ Building up a company’s image. ââ€" ª Persuasive advertising : âÅ"“ Building brand preference. âÅ"“ Encouraging switching to your brand. âÅ"“ Persuading customer to purchase now. âÅ"“ Persuading customer to receive a sales call. Advertising Goals: âÅ"“ To increases sales âÅ"“ To establish brand equity, and âÅ"“ To enter the target market. Behavioral goals: âÅ"“ Advertising goals aim at changing the attitude and behavior of the target audience towards a brand. âÅ"“ Advertising goals in behavioral terms is analysis of the communication and decision process that will affect the desired buyer behavior. âÅ"“ Advertising could be aimed at any of these or a communication of these intervening variables. Communication Related goals: âÅ"“ Advertising is directed at a group of users of product called the target audience. âÅ"“ Attract attention âÅ"“ Secure interest. âÅ"“ Build desire for the product and finally âÅ"“ Obtain action. Approaches for setting Advertising Objectives: ââ€" ª AIDAS model âÅ"“ A’ refers to Attention âÅ"“ ‘I’ refers to Interest âÅ"“ ‘D’ refers to Desire âÅ"“ ‘A’ refers to action; and âÅ"“ ‘S’ refers to Satisfaction ADVERTISING COPY ELEMENTS âž ¢ Headlines âž ¢ Subheading âž ¢ Body copy âž ¢ Captions âž ¢ Blurb or balloon âž ¢ Boxes and panels âž ¢ Slogan, Logo, Signature GUIDELINES FOR COPY WRITING âž ¢ Cash in on your personal experience âž ¢ Write from the heart âž ¢ Learn from the experience of others âž ¢ Study the product âž ¢ Study competitors’ advertisement âž ¢ Study testimonials from customers âž ¢ Solve the prospect’s problem âž ¢ Put your subconscious mind to work âž ¢ â€Å"Ring the changes† on a successful idea COLOUR ↠ Colors are often used to attract attention and to enhance memory value. ADVERTISING LAYOUT PROCESS [pic][pic] VARIOUS ADVERTISING MEDIA ââ€" ¡ PRINT MEDIA: âž ¢ Newspapers âž ¢ Magazines âž ¢ Journals ââ€" ¡ OUTDOOR MEDIA: âž ¢ Advertising Boards âž ¢ Vehicle advertising âž ¢ Electric displays âž ¢ Sky writing âž ¢ Sandwich men ââ€" ¡ DIRECT MAIL: âž ¢ Leaflets âž ¢ Sales letters âž ¢ Folders âž ¢ Booklets âž ¢ Catalogues âž ¢ Brouchers ââ€" ª BROADCASTING MEDIA: âž ¢ Radio âž ¢ T.V âž ¢ Film âž ¢ Web based advertising [pic] AN OVERVIEW S ales promotion includes all those activities other than advertising, personal selling, public relation and publicity, that are intended to stimulate customer demand and improve the marketing performance of sellers. Need of sales promotion: ââ€" ª To secure attention towards new products. ââ€" ª To improve the market share of a company. ââ€" ª To avoid duplication of goods. ââ€" ª To create awareness among consumers about new brands. ââ€" ª To face competition in the market. ââ€" ª To create talking points for their sales force. SALES PROMOTION TOOLS ââ€" ª Contest ââ€" ª Premium offers ââ€" ª Mail – in free offers ââ€" ª Free gifts with goods ââ€" ª Picture cards ââ€" ª Gift coupons ââ€" ª Coupons ââ€" ª Cross coupons ââ€" ª Jumbo packs ââ€" ª Money – off offers ââ€" ª Sales letters SALES PROMOTION STRATEGY [pic] ADVERTISING SALES PROMOTION STRATEGY TAKEN BY ULTRATECH CEMENT LIMITED ADITYA BIRLA GROUP AT A GLANCE o The roots of the Aditya Birla Group date back to the 19th century in the picturesque town of Pilani set amidst the Rajasthan desert. It was here that Seth Shiv Narayan Birla started trading in cotton, laying the foundation for the House of Birlas. Through Indias arduous times of the 1850s, the Birla business expanded rapidly. In the early part of the 20th century, our Groups founding father, Ghanshyamdas Birla, set up industries in critical sectors such as textiles and fibre, aluminums, cement and chemicals. As a close confidante of Mahatma Gandhi, he played an active role in the Indian freedom struggle. He represented India at the first and second round-table conference in London, along with Gandhiji. It was at Birla House in Delhi that the luminaries of the Indian freedom struggle often met to plot the downfall of the British Raj. Aditya Vikram Birla: putting India on the world map |[pic] | | | A formidable force in Indian industry, Mr. Aditya Birla dared to dream of setting up a global business empire at the age of 24. He was the first to put Indian business on the world map, as far back as 1969, long before globalization became a buzzword in India. In the then vibrant and free market South East Asian countries, he ventured to set up world-class production bases. He had foreseen the winds of change and staked the future of his business on a competitive, free market driven economy order. He put Indian business on the globe, 22 years before economic liberalization was formally introduced by the former Prime Minister, Mr. Narasimha Rao and the former Union Finance Minister, Dr. Manmohan Singh. He set up 19 companies outside India, in Thailand, Malaysia, Indonesia, the Philippines and Egypt. [pic] Quality push: Mr. B. Venugopal, Senior Vice-President, UltraTech Cement Ltd, at the inauguration of mobile concrete laboratory in Durgapur. UltraTech Cement, as part of its ‘product plus’ services, has introduced a mobile concrete testing laboratory for ascertaining the quality of reinforcement materials and for guiding those building houses about its quality. ULTRATECH: BRAND POWER Excerpts from an interview with O.P. Puranmalka, Group Executive President, Grasim Industries and Chief Marketing Officer, UltraTech Cement Ltd. |[pic] | | | In step with its global agenda, the cement business of the Aditya Birla Group, is orchestrating a contemporary brand makeover. With UltraTech Cement, the Aditya Birla Group has established itself as not only the most respected domestic player but also among the global leaders in cement. Associate Editor Vidyut Kumar Ta in an exclusive interview with O.P. Puranmalka, Group Executive President, Grasim Industries and Chief Marketing Officer, UltraTech Cement Limited, analyses the strategy behind promoting a single brand identity of the companys cement products. Signature line [pic] The name UltraTech with the signature line, The Engineers Choice, admirably captures the premium nature of the brand and its salience. According to Mr. Puranmalka, excellent product quality and customer care will remain the hallmark of UltraTech cement. Jaan Wahi Pehchaan Nayi [pic] K eeping pace with the current industry trend and taking the UltraTech brand to a new pedestal, the group decided to have one national brand. Birla Plus with its very strong presence in the North was a very well known brand. Its tag line Har Nirman Ki Jaan and Is cement mein Jaan Hain had become household phrases. Observes Mr. Puranmalka: We opted for UltraTech as the national brand because while on the one hand, it gives us the opportunity to strengthen common attributes of a premium brand, scale of operations and the Aditya Birla Groups reputation, it also provides an opportunity to build on the positioning platform of expert and imagery signifying progress, cutting edge technology and modernity. Strategy A lthough cement is said to be a low-involvement category, the brand awareness in this category is very high. Major brands like ACC, Ambuja and some strong regional brands have been fighting for mind space. Says Mr. Puranmalka: Brand awareness is the category driver. We wanted to be different and were constantly on the look out for high visibility media. We found that cricket has a great following in our country and we wanted to explore the possibility of associating with this sport. CHAK – DE STRATEGY [pic] I ndia, the worlds largest producer of movies in as many as 10-12 different languages, provides a great opportunity for advertisers to reach the masses. Films are a great entertainment platform for most Indians. Many FMCGs have encased this opportunity. The in-film branding opportunity was used by UltraTech for the first time ever in the cement industry. The film Chak De India, promoting womens hockey in India, became an all-time hit. In the movie UltraTech was the sponsor of the Indian womens hockey team. UltraTech branding was all over, throughout the movie. It was a big gamble we took,  says Mr. Puranmalka. Initially we were skeptical, with many big banners with big stars failing in the recent past. After a lot of deliberation, we decided to go ahead with this gamble and finally Chak De India almost became like a national anthem, with India winning the womens hockey title in reality and our cricket team winning the inaugural 20-20 World Cup. BRANDED CHANNELS S urging ahead of competition, the cement business brought in a new concept in cement marketing — UltraTech Building Solutions, a one-stop shop for all construction needs. This is a unique concept and was tested in Rajkot which is one of the fastest-growing cities in construction in the country today, says Mr. Puranmalka. Advocating our Plan, Build and Support philosophy, it seeks to enhance the shopping experience of customers and strengthen existing trade partnerships, by upgrading the service proposition. It offers a wide spectrum of end-to-end home building solutions, high quality construction materials and allied value-added services. As a business model, UltraTech Building Solutions offers home building solutions from planning to completion. B asically, every customer who walks in to UltraTech Building Solutions outlet receives guidance on construction-related issues as well as value-added services like Vastu, usage of budget software to estimate costs involved for construction, paper clearance procedures, etc. The customer gets a ready reckoner of information on how to choose and buy quality construction materials. With the Rajkot success and with key learning points, the company intends to open many more outlets across the country. Measuring Effectiveness O nce the goals are well defined we need to measure the effectiveness of all such initiatives that are undertaken from time to time, says Mr.  Puranmalka. We are research-savvy in our approach. We go into minute details to find out the cause and effect, keeping the larger picture in mind. This is true right from the selection of the brand name UltraTech to ad campaign testing, media effectiveness and so on. Regular Brand Health Monitoring studies are undertaken to understand various critical issues like awareness, usage pattern, equity indices, psycho-economic mix of the target group (TG), etc. Mr. Puranmalka adds: Recently we initiated and completed a customer satisfaction survey to understand the expectations of customers and benchmark with the best in the industry. Of course there are some insights, which we need to address internally, but overall we are happy with the outcome. The results are very encouraging and you would be glad to know we are steering ahead of competition. Rajasthan Royals ropes in UltraTech as team sponsor: ⠝â€" Rajasthan Royals has roped in UltraTech Cement as their team sponsor. With this, the Emerging Media-owned IPL franchises sponsor roster stands at eight. ⠝â€" Rajasthan Royals CMO Raghu Iyer, All deals are intended to be long-term. Our earlier team sponsor was Bajaj Allianz but we agreed to mutually part ways amicably. ⠝â€" UltraTech Cement will have branding on the team jerseys and team-replica merchandise. Iyer added that plans are being worked upon as to how the two parties can best take this relationship forward. ⠝â€" As had been reported earlier by Indiantelevision.com, TCS is the franchisees technology partner. TCS will offer expertise in IT solutions to the T20 cricket team on and off the field for the next three years. The Television Plan: âž ¢ The franchisee is planning activities with Super sport which will air the IPL in South Africa. Rajasthan Royals had earlier entered into a strategic  partnership with the Nashua Cape Cobras. The first match will be played on 11 April. In the days preceding the encounter, there will be special features in the form of player profiles and interviews. âž ¢ In India the franchises partners are Aaj Tak and Times Now. The plan is to offer them special footage and capsules. Ayer added that the franchisee is in talks with several broadcasters to air their DVD. Victory will be aired on the channel. âž ¢ Rajasthan Royals claims that it is witnessing good sales of the two DVDs that it has launched earlier. While Road to Victory is about how the team triumphed in the IPLs inaugural edition, Access All Areas aims to give fans an idea of what goes on behind-the-scenes to make the IPL a success. [pic] The prime purpose of the project is to identify Advertising and sales promotion strategies of ULTRA TECH CEMENT LIMITED. The ingredient for a successful analysis is a structured questionnaire, for the better construction of analysis of the data generated from the questionnaire. The following step by step analysis is a proportionate mix of good high quality and dire views. 1. How ‘advertising’ is effective to increase the sales volume? Always: 65% To great extent: 25% To some extent: 10% To very little extent: 0.0 Not at all: 0.0 [pic] Remark: As there is no magic for success and to increase sales volume and profit, Advertising is the only key. 2. How ‘advertising’ is effective to stimulate demand for the product? Always: 60% To great extent: 25% To some extent: 15% To very little extent: 0.0 Not at all: 0.0 [pic] Remark: Without advertising its’ very complex to stimulate demand for product. 3. DO you feel that ‘Advertising’ will reduce various ‘marketing costs’? Always: 55% To great extent: 35% To some extent: 10% To very little extent: 0.0 Not at all: 0.0 [pic] Remark: Advertising is so effective to reduce various marketing costs. 4. Do you feel that ‘Advertising’ increases repeat purchasing? Always: 70% To great extent: 20% To some extent: 5% To very little extent: 5% Not at all: 0.0 [pic] Remark: Maximum no. of customer accepts that advertising increase repeat purchasing. 5. Do you feel that ‘Advertising’ informing the market about a new product? Always: 85% To great extent: 10% To some extent: 5% To very little extent: 0.0 Not at all: 0.0 [pic] Remark: Advertising is highly effective to inform the market about new product. 6. Is ‘Advertising’ act as building up a company’s image? Always: 68% To great extent: 23% To some extent: 5% To very little extent: 4% Not at all: 0.0 [pic] Remark: Advertising is a successive method to build up company’s image. 7. How ‘Advertising’ is helpful method for market positioning? Always: 52% To great extent: 25% To some extent: 10% To very little extent: 7% Not at all: 6% [pic] Remark: Advertising is quite impressive method for market positioning. 8. How ‘Sales Promotion’ effectual to improve the market share of a company? Always: 55% To great extent: 20% To some extent: 15% To very little extent: 10% Not at all: 0.0 [pic] Remark: Sales promotion is effective policy to improve the market share of a company according to people. 9. How ‘sales promotion’ work to face competition in the market? Always: 70% To great extent: 20% To some extent: 10% To very little extent: 0.0 Not at all: 0.0 [pic] Remark: Sales promotion used as effective tool to face competition in the market. 10. Do you feel that ‘Sales Promotion’ should attract the attention of the target audience? Always: 75% To great extent: 20% To some extent: 5% To very little extent: 0.0 Not at all: 0.0 [pic] Remark: Sales promotion should attract the attention of the target audience to purchase particular product. ADVERTISING EFFECTIVENESS Most advertiser try to measure the communication effect of an AD – that is, its potential effect on awareness, knowledge, or preference. They would also like to measure the AD’S sales effect. ââ€" ª The consumer feedback method asks consumers questions such as these: 1) What is the main message you get from this AD? 2) How likely is it that this AD will influence you to undertake the action? 3) What works well in the AD what works poorly? 4) How does the AD make you feel? 5) Where is the best place to reach you with this message? ââ€" ª Portfolio tests ask consumers to view or listen to a portfolio of advertisements. Recall level indicates an ad’s ability to stand out and to have its message understood and remembered. ââ€" ª Laboratory tests use equipment to measure physiological reactions – heartbeat, blood pressure, pupil dilation, galvanic skin response, perspiration – to an ad. SALES EFFECT RESEARCH What sales are generated by an ad that increases brand awareness by 20% and brand preference by 10%? The fewer or more controllable other factors such as features and price are, the easier it is measure advertising’s effect on sales. The sales impact is easiest to measure in direct marketing situations and hardest in brand or corporate image – building advertising. Companies are generally interested in finding out whether they are overspending on advertising. Researchers try to measure the sales impact through analyzing historical or experimental data. [pic] SALES PROMOTION EFFECTIVENESS [pic] O nce the goals are well defined we need to measure the effectiveness of all such initiatives that are undertaken from time to time, says Mr. Puranmalka. We are research-savvy in our approach. We go into minute details to find out the cause and effect, keeping the larger picture in mind. This is true right from the selection of the brand name UltraTech to ad campaign testing, media effectiveness and so on. Regular Brand Health Monitoring studies are undertaken to understand various critical issues like awareness, usage pattern, equity indices, psycho-economic mix of the target group (TG), etc. Mr. Puranmalka adds: Recently we initiated and completed a customer satisfaction survey to understand the expectations of customers and benchmark with the best in the industry. Of course there are some insights, which we need to address internally, but overall we are happy with the outcome. The results are very encouraging and you would be glad to know we are steering ahead of competition. [pic] The improvement in sales profit is the evident for an organization. So requirement of advertising and promotional schemes is tremendous. ↠ The structure of a persuasive message can influence the effectiveness of advertising. ↠ Customers influenced by message appeals like comparative, fear and humor appeals. ↠ The designs of advertisement impress customers. Design means the arrangement of various parts in a pre determined order say a blue print. ↠ Advertising media should be elected carefully. Media reduces gap between customer and manufacturer. ↠ Sales promotion schemes lead to increase of sales. [pic] ↠ It has been observed during the course of questionnaire survey that 56% interviews suggested improvement of advertising and sales promotion techniques. Management is being advised to improve inefficiencies such as: âž ¢ Advertising message should be meaningful. âž ¢ Avoid unethical advertisings. âž ¢ Reduce use of women as sex objects in Ads. âž ¢ Banned on alcohol tobacco ad. âž ¢ Reduce using of false claims info. âž ¢ Careful about social values consumer rights. ↠ These are some initial steps which improve advertising efficiency. Efficient advertising and sales promotion schemes increase profit of organization. So, it helpful to meet organization goals. [pic] †¢ PHILIP KOTLER, Marketing Management †¢ Monthly Magazine issued by company †¢ Mr.B.Devamaindhan, Advertising management and Sales promotion †¢ Web based information CONCLUSION †¢ Design good layout and message of advertising to make it effective. †¢ Organize sales promotion programs to increase sales volume and repeat purchase. †¢ Care about ethical issues and social values. †¢ Provide quality service to the customers. †¢ Use reliable schemes to promote consumers. A FINANCIAL REPORT ON ULTRATECH CEMENT LIMITED Cash Flow statement of UltraTech Cement Limited |Profit before tax |1,361.46 |1,507.01 |1,166.19 |285.59 |43.24 | |Net cash flow-operating activity|1,457.57 |1,375.26 |1,113.09 |551.63 |337.42 | |Net cash used in investing |-1,645.43 |-1,441.79 |-1,046.25 |-357.24 |-87.18 | |activity | | | | | | |Net cash used in fin. Activity |191.66 |77.63 |-38.84 |-191.02 |-235.81 | |Net inc/dec in cash and |3.80 |11.10 |27.99 |3.37 |14.43 | |equivalent | | | | | | |Cash and equivalent begin of |100.69 |89.59 |61.60 |58.23 |41.83 | |year | | | | | | |Cash and equivalent end of year |104.49, |100.69, |89.59, |61.60 |56.6 | Dividend Sheet of UltraTech Cement YEARMONTH DIVIDEND (%) |2009 |Apr | | | | |50 | |2008 |Apr | | | | |50 | |2007 |Mar | | | | |40 | |2006 |Jul | | | | |18 | |2005 |Apr | | | | |8 | |2004 |Sep | 5 | Annual results in brief – UltraTech Cement Limited |   |Mar 09 |Mar 08 |Mar 07 |Mar 06 |Mar 05 | |Sales |6,436.96 |5,509.22 |4,910.83 |3,299.45 | | | | | | | |2,681.05 | |Operating profit |1,760.29 |1,720.06 |1,417.81 |554.26 |272.81 | |Interest |125.51 |75.67 |86.83 |89.64 | | | | | | | |106.88 | |Gross profit |1,684.46 |1,744.24 |1,392.44 |501.62, | | | | | | | |188.18 | |EPS (Rs) |78.48 |80.94 |62.84 |18.46 |0.23 | Profit loss account |   |Mar 09 |Mar 08 |Mar 07 |Mar 06 |Mar 05 | |Income | | | | | | |Operating income |6,385.50 |5,512.43 |4,909.05 |3,299.45 |2,681.05 | |Expenses | | | | | | |Material consumed |1,193.97 |1,008.92 |902.06 |733.72 |609.13 | |Manufacturing expenses   |1,805.56 |1,314.78 |1,194.54 |958.30 |839.40 | |Personnel expenses |216.76 |171.55 |117.22 |92.26 |72.96 | |Selling expenses |1,256.46 |1,143.02 |1,137.66 |843.99 |650.98 | |Administrative expenses |177.93 |160.03 |133.93 |109.57 |137.36 | |Expenses capitalized |-8.38 |-13.37 |- |- |- | |Cost of sales |4,642.30 |3,784.93 |3,485.41 |2,737.84 |2,309.83 | |Operating profit |1,743.20 |1,727.50 |1,423.64 |561.61 |371.22 | |Other recurring income |99.29 |87.31 |57.65 |23.11 |21.70 | |Adjusted PBDIT |1,842.49 |1,814.81 |1,481.29 |584.72 |392.92 | |Financial expenses |134.09 |81.93 |92.61 |96.99 |128.05 | |Depreciation   |323.00 |237.23 |226.25 |216.03 |221.78 | |Other write offs |- |- |- |- |- | |Adjusted PBT |1,385.40 |1,495.65 |1,16 2.43 |271.70 |43.09 | |Tax charges |384.44 |499.40 |383.91 |55.83 |-36.45 | |Adjusted PAT |1,000.96 |996.25 |778.52 |215.87 |79.54 | |Non recurring items |-23.94 |11.36 |3.76 |1.48 |-77.24 | |Other non cash adjustments |- |- |- |12.41 |0.55 | |Reported net profit |977.02 |1,007.61 |782.28 |229.76 |2.85 | |Earning before appropriation |2,575.14 |1,782.77 |962.85 |239.87 |20.77 | |Equity dividend |62.24 |62.24 |49.79 |21.79 |9.33 | |Preference dividend |- |- |- |- |- | |Dividend tax |10.58 |10.58 |6.98 |3.06 |1.33 | |Retained earnings |2,502.32 |1,709.95 |906.08 |215.02 |10.11 | SUBSTANCE: Observing this financial report we say the company is in good condition financially. The gross profit of this company was 188.18 in Mar 05’ and it increased 1496.28 in Mar 09’. We find a steady growth of UltraTech cement limited in six year. Company’s dividend jump 5 – 50 in six year only (2004 – 2009). Net profit was 2.85 in Mar 05’ and 977.02 in Mar 09’. Advertising expenses of UltraTech cement limited jump 605.48 point in six years (04 – 05). Advertising expenses of this company increases cause of advertising formulation strategy being changed. Company wants to capture potential market by good advertising and sales promotion activities. [pic][pic][pic][pic][pic] PCS SILO1 PCS SILO2 BALL MILL Step 1 THUMBNAIL SKETCHES STEP 2 ROUGH STEP 3 COMPREHENSIVE STEP 4 PASTE UP OR MECHANICAL DEFINING THE SALES PROMOTION TARGET SETTING SALES PROMOTION OBJECTIVES SETTING THE SALESPROMOTION BUDGET DEVELOPING THE SALES PROMOTION STRATEGY SELECTING TYPE OF SALES PROMOTION COORDINATING THE PLAN EVALUATING SALES PROMOTION EFFECTIVENESS SHARE OF MARKET SHARE OF MIND AND HEART SHARE OF VOICE SHARE OF EXPENDITURES

Events Management Report on Fan Expo - Canada Essay Example for Free

Events Management Report on Fan Expo Canada Essay This report has been commissioned by James Armstrong of Hobby Star Marketing to critically analyse and evaluate the Fan Expo Canada event. A general overview of the event will be provided as well as the event category it falls under and the implications of this. The event will then be analysed in terms of its social impact, the stakeholders involved and economic implications. This report is limited to the event information available on the internet and in the prescribed text for theory based arguments. This report aims to advise Hobby Star Marketing on the current and future states of their event and as related to tourism theory, what impact this may have on social and economic factors, as well as impact on event stakeholders as a whole. In conclusion recommendations will be put forward as to the best approach for event organisers to take in the future to ensure all stakeholders are kept satisfied as well as the wider community. 2.0 Description of EventFan Expo Canada is held annually at the end of each summer in Toronto Canada and features three days of non-stop festivities in the areas of video games, anime, science fiction, horror and comic books. The expo has been running for 12 years with its name recently being changed from the Canadian National Expo. Fan Expo is held primarily in the Toronto Metro Convention Centre and last year boasted over 37 000 admissions. Fan Expo is a unique event targeted to a specific range of markets. Having been dubbed in the past the Nerd Prom, the Fan Expo draws visitors from all around the globe to Toronto Canada, enhancing awareness of the region and its status in gaming, anime, science fiction, horror and comic book realms. Due to these factors it is suitable to classify this expo as a Hallmark event. This type of event is typically defined as a major one time or recurring event of limited duration developed primarily to enhance awareness or appeal and profitability of a tourism destination in the short or long term. In order to obtain success such events rely primarily on their uniqueness, status or timely significance to create both interest and to attract attention (Ritchie, 1984, p.2; Getz 1997 pp.5-6 in Allen et al. 2005). Fan Expo is highly significant to its target markets and provides the host venue, community and destination as a whole with a competitive  advantage over other conventions of a simu lar nature in North America (third largest event of its kind in this region) (Hobbystar 2006). 3.0 Social Impact 3.1 Social BenefitsAll events have a direct social and cultural impact on their participants and sometimes on the broader host communities (Hall, 1989; Getz, 1997 in Allen et al. 2005). In terms of the Fan Expo, the social impacts are expansive and many benefits come to fruition as a result of the event taking place. One in particular is the validation of community groups associated with the event. A positive impact can be seen here through the acknowledgment of local comic book artists, with the talents of the normally ostracised minority being recognised and applauded at an international level. As the community is one of the major event stakeholders, not only are these groups validated but further encouragement of community participation also results due to the overwhelming achievements of specific community members. Social constancy and community pride are again other factors that result in benefits to the community of Toronto. Fan Expo brings tourists from all over the world to one epicentre of likeminded people. Through this experience the local community may volunteer and band together to present their city in the greatest state possible to expo visitors. The impact this effect has on the tourists is also significant as it encourages migration attractiveness as well as an increased positive image tourists have about the city of Toronto. This has a two fold effect as the community also notes the economic gain of for example encouraging a major video game expert to relocate to Toronto (stronger and more competitive local economy). In retrospect the community is more socially aware of itself and its visitors and is more likely to retain and develop higher visitor rates due to its strengthened welcoming culture. The convergence of these likeminded industry experts also facilitates an arena for the development of new ideas and partnerships both within the industry and between expo visitors. Tourists that bring already existing ideas to the expo then can have that idea realised through the resources of local and visiting industry experts (i.e. a gaming designer that wants to  sell his or her idea to a major video game corporation). The potential for economic growth due to this convergence is quite extraordinary. 3.2 Social Costs Of the research conducted about what social cost Fan Expo has had to the local community, one common theme that was realised was the apparent facilitation of strongarm tactics. In an overview of what was discovered, local comic book retailers were being forced by expo organisers either feature solely in their expo (not other competing expos) or not feature at all. The local community backlash from this decision was quite significant with many key industry leaders in the community moving to boycott the Fan Expo event. The ramifications of this monopolistic type approach on the community can cause not only resentment towards event participants and tourists, but also commodification of the event because of the lack of attendance of original industry leaders and pioneers (eg. instead of the creator of the comic book The Phantom attending in person, Fan Expo constructs a video montage of the comic book creator and his work instead). This can cause dissonance between fans and organisers as what was once expected and a major highlight of the event is now replaced with a display that for most fans, the information presented is not uncommonly found on say the internet. On a whole, community resentment for the event taking place in their city can occur but also tourist resentment for the visiting the destination in the future is also a possibility. Social consequence such as criminal activity may occur as a result, specifically if some visitors have travelled a significant distance to attend the event. 4.0 Stakeholders In regards to the stakeholders for Fan Expo Canada, a number of categories can be used to separate the role and objectives of each. In terms of the host organisation, the Toronto City Council is a major figurehead as the support from local government for funding and other regulatory and staffing concerns is vital to the success of this event. Hobby Star Marketing as a corporation is also another obvious stakeholder as they are the primary event organisers and have substantial amounts of  resources injected into fate of this event. The Toronto Metro Convention Centre is also another key stakeholder as the event is being held at their premise. Their objectives for the event will be to ensure their function areas function as they should throughout the expo as well as working closely with Hobby Star to ensure all logistical requirements are executed without delay or error. Toronto as a community is also a primary stakeholder as its involvement and expectations for the event are additionally significant. For Hobby Star, their understanding of the local community is a key factor for the event to be a success. Specifically in this case, the understanding of local community comic book or gaming groups and societies will enable event organisers to develop the event to cater for the needs of these groups. Furthermore representatives from these groups could provide recommendations and assistance for future event ideas. In doing so the community expectations can be more accurately met and overall dissonance of the event significantly reduced (Allen et al. 2005). In terms of the media, local television, radio and print associations are also termed stakeholders as they have been invested in and have also dedicated resources to either cover the event progress or advertise the event in the weeks leading up. Due to the events widespread appeal, web media would also be considered an important stakeholder as accurate information needs to be communicated to tourists planning on attending. Web media is also important to monitor because as noted earlier, backlash or community opinions are not contained within the community when the web is involved, and negative impacts can occur quickly through use of the internet. Other stakeholders include event staff, volunteers and centre management and staff. Their role is to ensure the event plan is executed effectively and their presence as a required resource must also be nurtured through not only being catered for and looked after during the event, but also recognition for their contributions once the event has ended. One way this is performed is by volunteers being given free access to any event over the three days before and after their allotted shift time (Happy Star 2006). For any event  to be truly effective, the vision and philosophy of the event must be shared by all of the team (Allen et al. 2005). The participants of the event which include guest speakers, retailers, performers, industry professionals and the general public are also significant stakeholders. To make the event memorable and meaningful, the event manager must ensure all of these figureheads are satisfied in terms of what they want to get out of the event, which includes their physical needs of comfort, safety and security. At Fan Expo in 2006, it is the 40th anniversary of the birth of Star Trek and the key guest speakers are two famous stars from the original television series. Their involvement and satisfaction of how the event is run and managed will be reflected on how well they address the audience and subsequently the level of enjoyment the spectators receive. 5.0 Economic Analysis The economic standpoint in regards to events is the make or break factor events must generate revenue to be successful. Therefore one of the most important impacts is the tourism revenue generated by an event (Allen et al. 2005). External visitors not only spend money on the event itself such as tickets and merchandise but also on items such as travel, accommodation and other goods and services available in the host city. This economic influx is sometimes depended on in many smaller communities however in the case of Toronto, effective tourism can result in visitors that are in town for the event to extend their stay and consequently increase spending (Allen et al. 2005). As described in Section 3.1, many business opportunities are possible through the interaction of local and visiting industry members. Furthermore their interaction with the local community and its economy may also give way for tourists to increase stay or indeed make a bid to stay permanently. For the expo, this could mean opportunities for more qualified industry leaders to be a part of the planning process for the following years expo. The overall benefits for Fan Expo could include for example the cast voices for the latest Star Trek game to be sourced and recorded in Toronto due to Microsoft Games setting up headquarters after negotiations. In hindsight whilst the  majority of the Fan Expo is based around a market and display type setup, there are also many exclusive forums and networking conferences that occur over the weekend to further facilitate the creation of business opportunities (Hobby Star 2006). Higher rates of employment can also result from this event employment requirements for Fan Expo itself but also local industry members showcasing their talents then being offered work at a major firm. This can also have a negative effect as the local talent is snapped up and shipped out to other cities or countries, possibly damaging the part of the local economy they were once involved in. On the other hand if nurtured the community member could leave to gain more knowledge then return to the city, bringing with them a wealth of knowledge and experience that could significantly increase the economy of the city and region. On the agenda of negative economic impacts, opportunity cost can clearly be linked to the issues described in Section 3.2 in regards to strongarm tactics allegedly being used by Hobby Star Marketing. With retailers being forced to choose between festivals, the chance for economic gain is lost. Spectators that cannot attend the Fan Expo are left with no alternatives to view and purchase expo items and retailers in general loose out because of reduced exposure. This consequently forces retailers to ascertain which festival would be more financially beneficial to them, hence reducing exposure and possible loss of business opportunities. As stated in Section 3.2 this can generate a negative reputation for Happy Star and the Fan Expo in general and have many negative social and economic impacts. 6.0 Conclusions This report has provided an overview of the Fan Expo Canada event and classified into the Hallmark event category. The event was then analysed in terms of its social impact, the stakeholders involved and economic implications. This report has found that Fan Expo appeals to a unique market and draws visitors to the town of Toronto. It has outlined relevant stakeholders and their goals and found that increased integration of local community groups with the planning process of the expo could be beneficial to future success and reduced dissonance. This report described the importance of economic planning and how decisions that are made in the best interests of the event may not be in the best interests of the wider community. This report aims to advise Hobby Star Marketing on the current and future states of their event and as related to tourism theory, what impact this may have on social and economic factors, as well as impact on event stakeholders as a whole. In conclusion recommendations will be put forward as to the best approach for event organisers to take in the future to ensure all stakeholders are kept satisfied as well as the wider community. 7.0 Recommendations In hindsight to this report, the following recommendations are made:Increase communication with community industry leaders to ascertain the best approach in organising the event so maximum exposure can be generated. Further develop networking events at the expo and facilitate the creation of business opportunities and discovery of new talent in the local community. Promote to industry leaders the benefits of setting up operations in the community and tie this in with a major showcasing of their products at the following years expo. Work closer with Toronto City Council to further promote local and regional tourism to increase longer stays and increased economic activity. Reduce dissonance by operating competitively and ethically with other expos. List of References Allen, J OToole, W Harris, R McDonnell, I 2005, Festival and Special Event Management, John Wiley Sons, Milton. Hobby Star 2006, Fan Expo Canada, viewed 20 August 2006, Getz, D 1997, Event Management and Event Tourism, Cognizant Communication Corporation, New York. Wikimedia Foundation 2006, Fan Expo Canada, viewed 6 August 2006,

Ethics in the Finance and Investment Industry

Ethics in the Finance and Investment Industry Introduction Ethics can be defined as the study of what institutes of right or wrong behavior in terms of ones principle and integrity expected to be by society. It is the branch of philosophy that focuses on morality and the way in which moral principles are derived or the way in which a given set of moral principles applies to ones conduct in daily life. Different people face different ethical questions in their day to day life and as well as in their business life. Ethics usually assumes people are rational and make free choices correctly. We can also give or take that it has got certain rules to follow in our collaborations and our actions that affect others. There can be ethical questions that have influence in our daily life or in business life like fairness, justness, rightness or wrongness. Both ethics in finance and investing are part of business and business ethics focuses on what constitutes right or wrong behavior in the business world and on how moral and ethical principles are applied by business persons to situations that arise in their daily activities in the workplace and their handling of client asset. Ethics that are faced in personal life is much more different and complex in business life. Social Influences on Ethics When evaluating professional decisions and behavior in the finance and investment industry, high standards of ethics and blatant violations of ethical conventions are difficult to explain solely in terms of individual traits and personality. Situational factors may lead to considerable differences in the ethical standards of behavior of a single individual in different social situations-a fact that has been revealed time and again by media reports. Thus, a true understanding of the psychology of ethics in the world of finance and investment requires awareness of how people interact and influence each other ethically. 1 1. See: Thomas Oberlechner Webster University Vienna The Psychology of Ethics in the Finance and Investment Industry Research Foundation of CFA Institute from http://www.cfapubs.org/doi/pdf/10.2470/rf.v2007.n2.4697 Ethics in Finance When anyone thinks about financial market they think about money, that also trillions of dollar. With that amount of money in greed, which can be defines as excessive desire to posses wealth, mixed with competition can be powerful combination to introduce unethical behavior. This is not solely concerned with the individuals but also with financial markets and financial institutions. Financial ethics is more to do with maintaining trust between the financial industry and client. If we analyze how financial system works, it is easy to see that it is easy for financial fraud and deceit. As almost all the people in United States have a 401K which is invested in financial market through different financial companies. All the people investing their money come from different walk of life and have limited knowledge in financial market. The only way public can believe in an investing firm to invest in their lifetime saving is by trust. This trust is built over the years by these firms by foll owing correct ethical procedure (by the firm and its staffs). Ethics in the Investment Profession Ethical practices by the investment professional benefit all market participants and stakeholders and lead to increased investor confidence in global capital markets. Ethical practices instill a public trust in the fairness of markets, allowing them to function efficiently. In short, we can say that good ethics is a fundamental requirement to the investment profession. The Code of Ethics for Finance and Investment Act with integrity, competence, diligence, respect and in an ethical manner with the public, clients, prospective clients, employers, employees, colleagues in the investment profession, and other participants in the global capital markets. Place the integrity of the investment profession and the interests of clients above their own personal interests. Use reasonable care and exercise independent professional judgment when conducting investment analysis, making investment recommendations, taking investment actions, and engaging in other professional activities. Practice and encourage others to practice in a professional and ethical manner that will reflect credit on themselves and the profession. Promote the integrity of, and uphold the rules governing, capital markets. Maintain and improve their professional competence and strive to maintain and improve the competence of other investment professionals.   See: Ethical and Professional Standards and Quantitative Methods. Level I 2008. Pearson Custom Publishing The Psychology of Ethics in the Finance and Investment Industry Financial and investment professionals are mainly susceptible to ethical misconduct. But what makes some obviously violate ethical standards and even violate the law while others behave highly ethically? Besides in all the courses taught in the entire business program we are taught that the objective of rationale individual is to maximize wealth. The psychology of ethics tries to find out why and when does a person behave (un) ethical way, their motivation, influence and social dynamic behind a certain active. It also tries to analyze individual cognitive and emotional dynamics. This analysis will help figure out the most effective may an ethical code can be written and implemented. Approaches to Ethics When people talk and write about ethics in the finance and investment industry, they approach the topic in variety of ways and address different realms of ethics. Usually, their dealing with ethics takes one of three main directions: (1) what investment professionals should do, (2) what they actually do, or (3) how finance and investment professionals can be helped to get from what they actually do to what they should do. Normative Ethics What should finance and investment professionals do? As the name implies, normative ethics aims at establishing norms and guidelines for professionals regarding how they should behave. This approach to ethics is inherent in, for example, the ethical theories of moral philosophy, theology, and definitions of professional norms, standards, and acceptable behavior for a professional field. Thus, a normative approach to ethics in finance and investments defines what is ethical in this profession. It tells practitioners how investment professionals should act to be ethical, which behavior should be considered ethical, and which behavior should not. Descriptive Ethics What do investment professionals actually do? Descriptive ethics aims at describing not how people should behave but how they actually do behave. And descriptive ethics attempts to explain and predict the unethical behavior of people in real-life situations (OFallon and Butterfield 2005). Psychological research conducted in controlled laboratory studies and real world settings of professional decision makers offers a systematic and comprehensive basis for descriptive ethics in finance and investing. Only this psychological and descriptive approach allows us to understand when and why people and organizations in the investment industry engage in ethical behavior and when and why they do not. Prescriptive Ethics How can finance and investment professionals be helped to get from what they actually do to what they should do? Based on descriptive insights about the factors influencing actual ethical decision making, the Prescriptive approach to ethics aims at helping people and organizations toward ethical decision making by giving advice about how to create environments that foster ethical decisions and how to improve the ethical component of decisions. The two main questions addressed by prescriptive ethics are the following: How can we create organizations that foster ethical behavior? How can we train professionals to readily perceive the ethical dimensions of their own behavior and to act ethically? Thus, prescriptive ethics suggests tools that assist people in making the prescribed decisions. 4 4 See: Thomas Oberlechner Webster University Vienna The Psychology of Ethics in the Finance and Investment Industry Research Foundation of CFA Institute from http://www.cfapubs.org/doi/pdf/10.2470/rf.v2007.n2.4697 Ethics and Investment in Global Perspective As the financial market now is more open globally, investment flows from one country to another more efficiently. With this comes an ethical risk for a financial firm. E.g. A financial firm in US investing in Singapore, but the ethical standard in both this countries financial market are different. Now which ethics standard should the firm or its employee follow? Can a firms employee ignore financial ethics code in US when he travels to Singapore? In this situation a firm should always follow the ethics code which is stricter. If US ethics code is stricter than the one in Singapore, it should still follow the US code of ethics. For individuals, the ethics code will apply globally i.e. if a person travels to jurisdiction outside of United States he is still bound by code of ethics and SEC laws. He is still not supposed to disclose all the protected financial information to any individual or firm. When analyzing investment opportunities in emerging market a financial firm much always check the ethical code of the country he is investing in. Even if the probability of profit is high but there has been high number of cases of ethical violation then the investment might not be a good idea. A good example of this is the amount of investment that went in China during Chinas IPO boom, a lot of companies from that boom is no where to be seen and the financial report present were falsified. Ethical Issues in Finance Industry Ethical issues in the financial services industry affect everyone, because even if you dont work in the field, youre a consumer of the services.  The public seems to have the perception that the financial services sector is more unethical than other areas of business. In the real business scenario there are many positions where we act without considering the ethical implication. Sometime what we think is ethical (because of the way we are brought up in society) might not be an ethical one in the world of finance or business. For example, one can have close friend with whom he share everything in life. Like normal individuals they talk about their work along with other stuff. But for the person who works in financial market there are certain discloser standard he has to follow. Let us say their discussion is related to financial market. So is it ethical for this person who is working with a financial firm to tell his friend all about the things he has information on, that is covered under discloser standard, or is it ethical for him to tell his best friend that he cant talk about this information and then risk his friend feeling that he does not trust him?. Because lets face it if I know something and I dont tell you that means you dont trust me, t hat is the idea implanted in our brain from our childhood. This is an example of social ethics dilemma that intertwines with financial (professional) ethics. Therefore the boundary between ethical and unethical is quite skinny. So, how can do companies ensure that the company and staff follow ethical behavior? Most large firms have implemented their own code of ethics-a set of general professional guidelines to inspire employees to behave ethically and responsibly as an individual or as a group representing the company.  But as in our examples these codes are stringent dos and donts that will cause more harm than good as the employee might be hesitant to even do the right ethical thing. As there is a thin line between ethical and unethical behavior this might give the employees a false notion that anything if it is not specifically prohibited would be acceptable. In addition to the company specific codes of ethics, companies and professionals are also bound by ethical codes of conducts of numerous professional organizations and institutions. Companies should train employees to these organizational code of ethics would be more effective as employee would think that its a global financial society standard. As global financial market is more combined with millions of transactions daily, the chances of business and professions using to more unethical conduct in todays age compared to previous decades. However, in this internet age, business condition and the resulting troubles are more complex. For example, companies and CEOs (for a public company) have to put their shareholders interest first before any other. The shareholder interest is to get maximum profit; CEOs are paid million of dollar in benefit and salary to achieve the goal of maximum profitability. They are under tremendous pressure to keep the company profitable every quarter and also outperform its competition. This might lead to a situation where the companies higher level staff might think they have found a loophole in the system and perform unethical adjustments of financial numbers. Recent example we can find is the collapse of ENRON because of fraud and FANNIE MAE accounting irregularities in start of this decade. It can also be pointed out that that ethical behavior is governed more by the individual rather than the environment. If we can establish a norm on the financial industry that its not only immoral to do unethical activity but its also immoral to not to notify of other peoples unethical activity, then there will be more violations reported. There have few instances where whistleblowers have reproted unethical behavior or violations of the companys code of ethics and brought big corporations down to their knees. But these kind of whistle blowing is rare. Research shows that this rarity is because whistleblowers are scared of getting fired from their jobs, especially if the violators are of higher post. In ones mind question arises is it ethical to whistleblower a violation and risk getting fired or is it ethical to keep quite and not risk putting food on family table? Companies should try to resolve this kind of dilemma , by implementing anonymous whistleblower program and by rewarding a them anonymously. A company code of ethics is useful only when the companys actions are consistent with it. Only then can it be followed consistently within the company. Conclusion Our society is interworking of people built in the pillar of trust. This trust is based on molarity and ethical behavior. For financial market not only Ethics is the pillar, it is also a ladder for success. Lose that trust and the firm or individual is going downhill. So financial firms should not only keep code of ethics in paper but also promote self-regulation. For financial market Ethical integrity is paramount and clients always come first.

Explain the harmful effects of drugs such as ecstasy on the individual

In recent years, the rising use of addictive drugs has become one of the biggest social problems menacing certain countries. The illicit use of a variety of drugs appears to be increasing. Generally, a drug can be a substance, other than those required for the maintenance of normal health, which by its chemical nature alters the structure or function of a living organism. In this essay, drugs are more appropriate defined as psychoactive drugs such as ecstasy and cannabis, which lead to the influence of the central nervous system in mood, thought and behaviour. In addition, drugs can be classified into three categories  ¡V depressants, stimulants and hallucinogens (McGill, 2002, 78). It is widely believed that taking drugs can lead to harmful consequences on the individual and society. Therefore, this essay is concentrated on explaining the physical and psychological effects on individuals and the social impacts on society. Despite the belief that the perceived benefits outweigh the negatives, the negligence of the harmful consequences and dangers of drug taking results from the little or no drugs ¡Ã‚ ¦ knowledge among the drug takers. The truth is taking drugs may bring physical and psychological effects on individuals. Taking ecstasy as an example, also known as MethyleneDioxyMethAmphetamine, is a drug made with Lysergic Acid Diethylamide and amphetamines. The effects of ecstasy begin about thirty minutes after use and may last for four hours (Hurwitz, 1992, 21). Owing to the new development of youth  ¡Ã‚ §club ¡Ã‚ ¨ or  ¡Ã‚ §rave ¡Ã‚ ¨ culture, there is a rise of ecstasy use as recreational drugs among the young generation. Referring to National Drug Strategy, it explains that 40 per cent of the Australian population aged 14 or older has tried cannabis which is the most widely used illicit drug in Australia. This is followed by ecstasy which is the most frequently used amphetamines due to t he substantial rise in the use and availability of amphetamine-type substances (1998, Internet). Although the drug takers may experience positive changes in feelings and emotions, a high energy level and increasing confidence in the first few hours after taking ecstasy, there are harmful effects afterwards. According to Ecstasy Organization, it states that the short term effects of taking ecstasy include having dilated pupils, jaw clenching and teeth grinding, sweating, a rise in body tem... ...d incarcerated perpetrators of drug- related crimes (20.4 percent), lost legitimate production due to drug-related crime careers (19.7 percent), and other costs of drug-related crimes, including Federal drug traffic control, property damage, and police, legal, and corrections services (18.4 percent). Most of the remaining costs resulted from premature deaths (14.9 percent), lost productivity due to drug-related illness (14.5 percent), and healthcare expenditures (10.2 percent) (1995, Internet). Thus, in summary, although drugs such as ecstasy and cannabis may bring positive changes in feelings and emotions and a rise in energy level, it is no denying that the long-term negative physical and psychological effects outweigh the benefits on individuals. Likewise, it may still be suggested that the use of drug may also have social impacts such as increase in crime rate, family and work problems as well as economic costs on society. Drug abuse has detrimental effects on both individuals and society that has no sure end but tragedy. It is a dilemma that cannot be neglected. Future and current societies and governments must work to address to it, otherwise it will spread like a disease.