Investor Sentiments Role in Deciding Market Returns Free Essay Example, 1500 words

The overall question of exploring and understanding as to whether the investor sentiments actually result in an impact on the stock prices has been decided. The renewed focus is on measuring the impact of investor sentiments and how it actually translates into the price and return changes in assets. Some of the variables or the psychological biases which are studied include overconfidence, representativeness as well as the conservatism. This also includes how the investors actually underreact or overreact to the past returns and the stock fundamentals. ( Barberis, N.There is an underlying assumption that the investors act rationally and every decision is actually driven by how investors actually rationalize. This underlying belief and assumption has driven much of the theory in finance and suggests that since investors are rational in their actions, therefore, all the assets are showing their intrinsic value. This assumption also suggests that the information is readily accepted by the investors and it reflects into the overall prices being experienced by the market. The arbitrage principle underlying the traditional finance theory also suggests that any price deviations will be corrected by the market participants in order to restore the equilibrium within the market. We will write a custom essay sample on Investor Sentiments Role in Deciding Market Returns or any topic specifically for you Only $17.96 $11.86/page

Essay about Intervention and American Foreign Policy

Communism and democracy have been considered political opposites and obvious opponents in the realm of nationwide government. The United States has a clear stance on both: quite simply, the latter is ideal and the former is the worst form of government that can be utilized in the state. Communism was viewed as the enemy of democracy and thus of the United States and any state allowed to prosper as a communist nation posed not only a threat to the United States but to democracies everywhere. For years, the United States adopted a strong proclivity for fighting all forms of communism, foreign or domestic, and attempting to install a democratic environment. We saw the fight against communism take place in Korea, Greece and ultimately†¦show more content†¦As a result, these people might subsequently believe that the translation of ideology described in this paper was driven by the same economic and corporate reasons. This paper will not get so radical as to support these theorie s, and any corporate/economic/conspiracy theories relating to the desire to intervene will be disregarded. The aftermath of World War II left the world in a very disorganized state. Germany, in ruins, was divided by the victorious parties into 4 separate zones of occupation. Japan was also devastated as was much of the Soviet Union. In rebuilding and redrawing national borders, tensions quickly arose between the Soviet Union and much of the Western Allies. Winston Churchill and FDR both campaigned for the Government of the Republic of Poland in exile to be reinstated, while Stalin insisted the Provisional Government be given power. It became increasingly apparent that a war was brewing between the Soviet Union and the West. In his speech â€Å"The Sinews of Peace†, Churchill stated an â€Å"iron curtain has descended† , by Stalin, between the Eastern and Western worlds. It became clear that the co-existence between Communist and capitalist systems was impossible. The United States viewed Stalin’s radical behavior as a direct threat and could not once more sit idly by as a foreign nation attempted to accumulate unprecedented power. Truman in his message to Congress on March 12, 1947 madeShow MoreRelatedThe War On Terror : An Example Of All Three Foreign Policy Tools Is Afghanistan Essay1303 Words   |  6 PagesThe War on Terror required utilizing pre-emptive war, regime change, and unilateralism. An example of all three foreign policy tools is Afghanistan. Bush took a hard line approach with the Taliban government of Afghanistan, who had a semi-friendly working relationship with Osama bin Laden’s terrorist group, al Qaeda, by declaring that if the Taliban government did not hand over bin Laden, the U.S. would invade Afghanistan. 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This being said, the U.S. uses formal and informal manipulation and intervention to ensure that Latin American governments are compatible with U.S. interests. This dates back, as previously said, to the time of the Monroe doctrine, when the United-States wanted to protect its expansion and dominance in the two Continent form European powersRead MoreThe Pitfalls of American Interventionism Essay1468 Words   |  6 Pagesbeginning of anti-American sentiment in the region. Starting with President Dwight D. Eisenhower, the United States had been interfering in the Middle East, using Iran as a base for anti-Soviet operations. Over the years, U.S relations with the Middle East soured, leading CIA-trained operatives to form terrorist organizations. President George H. W. Bush sparked the Middle Eastern powder keg with Operation Desert Storm, the beginning of the first Gulf War. The two Gulf Wars, and American interventionismRead MoreFour approaches to the political economy development of Latin America1734 Words   |  7 Pagesapproaches for studying, analyzing and understanding the political and institutional constrains that have shaped the development of Latin American countries. They have also incorporated into the analysis variables such as the influence of international organizations and the economic and class history, and its relation with one of the principal characteristics of Latin American countries: the d isparity between the wealthy and the poor. Throughout this work, I intend to summarize and review four of the most

Healthy Ways of Keeping Fit Free Essays

There are a lot of ways to keep fit. The important thing is that you find an activity that you enjoy doing and that you stick with it. There is a variety of things you can do. We will write a custom essay sample on Healthy Ways of Keeping Fit or any similar topic only for you Order Now You can run, walk, swim, bike, go hiking, do yoga, lots of different methods for keeping fit. Another enjoyable way is to go dancing. Dancing is a very good aerobic activity, requires physical liveliness and burns a lot of calories. The other thing that is significant is making sure that you follow a healthy diet. You want to make sure that you have enough energy to do these activities that you actually enjoy doing to keep your body fit. Therefore, following a healthy diet means ensuring that you eat when you are hungry, you stop eating when you are full, you include plenty of different types of fruits and vegatables, whole grains, things like brown rice, oatmeal millet, all those types of things are considered whole grains. You also want to include some type of lean protein whether that’s from legumes, beans such as pinto beans, garbanzos, or seafood or lean cuts of meat or poultry without the skin. Any of those are sources of lean proteins that are very beneficial for your body.And again, that particular method of eating will make sure that you have the energy that you need to actually perform these different types of activities you enjoy doing. So when you find the activity you like, try to do it several times a week at least 4 to 5 times a week will really help improve your level of fitness. More than that can actually cause you to lose weight if you are trying to actually lose weight. As you see there are several different ways of keeping feet. It can be any type of physical activity that you enjoy doing. How to cite Healthy Ways of Keeping Fit, Papers

Remembrance By Emily Bronte Essay Example For Students

Remembrance By Emily Bronte Essay Emily Bront? was one of three sisters who became famous novelists. Emilys only novel is Wuthering Heights, which was published in December of 1847. Emily was from the Yorkshire village of Haworth. Emily was born on July 30, 1818 to Reverend Patrick Bront? and Marie Branwell Bront?. She was the fifth child of six. The village of Haworth was very isolated. Two years after they moved to Haworth, Mrs. Bront? died of cancer. In 1824 the four eldest girls were sent to Cowan Bridge School, a school for the daughters of improvised clergymen. The conditions there were very unhealthy, and as a result Emilys eldest sisters, Maria and Elizabeth died and Charlotte became very ill. Mr. Bront? had Charlotte and Emily brought home. As children Charlotte, Emily, Branwell, and Anne worked on serial stories. Charlotte and Branwell wrote the history of the Angrians and Emily and Anne wrote the Gondal Chronicles. When Charlotte was fifteen she was sent to school at Roe Head, and when she returned she act ed as a tutor to Emily and Anne. In 1835 she returned to Roe Head as a teacher and took Emily with her as a student. Emily didnt stay away long she loved the moors too much and she became violently homesick. Most of Emilys life was spent in Haworth except for a six-month period that she taught at Law Hill School in Halifax and an eight month stay with Charlotte at school in Brussels. Emily was happy in the seclusion of the parsonage and the wild and lonely moors. During her lifetime she only wrote one novel, Wuthering Heights in 1847. She would never no the success of that novel because of her death in December of 1948. Even though Wuthering Heights received bad reviews at the time of publish it has become on of the great literary novels used by schools today. Other works by Emily Bront? are The Complete Poems of Emily Jane Bront?, which was published after her death, and Poems by Currer, Ellis, and Acton Bell, which she published with her sisters in 1845. Emilys Death followed the death of her brother Branwell. It was at his funeral that she caught a cold that killed her. Her sisters knew she was dying, but she insisted on keeping up her regular rounds of duties. On December 19, 1848 Emily died at the age of thirty. I believe that Emily Bront? place in history is restricted to literary classroom. Wuthering Height, although a great novel is very confusing and not of this time. Most people in today society want to read an up to date novel and Wuthering Heights is clearly from the past. Bront?, Emily. Wuthering Heights. Barnes and Nobles Books, 1993Hinkley, Laura L. The Bront?s: Charlotte and Emily. NewONell, Judith. Critics on Charlotte and Emily Bront?. CoralSpark, Muriel, and Stanford, Derek. Emily Bront?, Her life and Bibliography:

Evaluating Budget Documents

The concept of budgeting has prevailed in the human domain for centuries. There are various budgeting approaches which are globally acceptable and which have various levels of efficiencies.Advertising We will write a custom essay sample on Evaluating Budget Documents specifically for you for only $16.05 $11/page Learn More The core budgeting approaches or formats include; line item budgeting, PPBS budgeting, program budgeting, zero-based budgeting, performance based budgeting, priority based budgeting, program assessment rating tool and flexible freeze. The GFOA criteria of budget evaluation have been acknowledged for offering guidelines in assessment of budgets. Through establishment and adoption of budgets, public and private organizations have been able to enjoy high levels of accountability, efficacy and efficiency. The King Faisal Specialist Hospital is a leading public organisation in Saudi Arabia which has been acknowledged for leadership in provi sion of health services. The hospital which is based in Riyadh, Saudi Arabia has a bed capacity of 850 and is endowed with over 8,500 employees. The reputation of the hospital has taken the global platform based on the hospitals high regard on medical research and advancement (Al-Munif, 1988). In realization of its objectives and goals, the hospital has adequately embraced the concept of budgeting. This has been evident in all its activities and units of operations. The core aspects of budgeting have been demonstrated in human resource department, patient services, research and development as well as procurement. Through budgeting, the hospital has been able to ensure high levels of efficacy, accountability and efficiency (Al-Malik and Al-Takhassusi, 2005). This has been reflected in rapid development in the hospital, quality health care services, customer satisfaction, and employee satisfaction.Advertising Looking for essay on public administration? Let's see if we can help yo u! Get your first paper with 15% OFF Learn More In case of the King Faisal specialist hospital, site-based budgeting has been adopted. This budgeting approach has played a vital role in helping the organization to meet its objectives and mission of offering quality medical services. As indicated by Groves Et al (2003), site-based budgeting offers staff and local managers the opportunity to participate in budget preparation process. This approach to budgeting integrates the requirements of each department or unit of the organization into the overall budget. As observed in King Faisal specialist hospital, site-based budgeting has been adopted. This form of budgeting has been able to bring together the individual needs of each department or aspect of the organization. In particular, the site-based budget approach adopted in the hospital has taken into consideration the average number of employees, average number of beds, cost of beds, cost per inpatient days, and average numbe r of outpatient visits among other costs. This has helped the hospital to forecast on the total expenses as well as the expected revenues thus helping in planning (Groves Et al, 2003). In light with the GFOA criteria, it is explicit that King Faisal Specialist Hospital’s budget is of high quality. The site-based budget approach has enabled the hospital to efficiently identify all needs of the organisation. The core elements of the organisation which include the patients, employees and developmental projects have been adequately addressed in the budget. The budget by the hospital has keenly focused on the inpatient and outpatient needs as well as employee welfare (Al-Munif, 1988). Focus on these aspects has enabled the hospital to meet its goals and attain maximum satisfaction on all stakeholders. By keeping in mind the average costs of inpatients, employees, outpatients and beds per year, the budget has been able to address all needs of the stakeholders and constituents (Grov es Et al, 2003). Conclusion In summation, the discussion and analysis of the issue of public budgeting has offered very insightful ideas. The various approaches to budgeting have been identified. The focus on King Faisal Specialist Hospital has clearly outlined the need for budgeting. As noted in the discussion, the hospital has adopted site-based budgeting.Advertising We will write a custom essay sample on Evaluating Budget Documents specifically for you for only $16.05 $11/page Learn More This approach or format of budgeting has helped the hospital to incorporate the needs of all stakeholders. It is worth noting that the budget by the hospital has met the GFOA criteria by putting the needs of all stakeholders in mind. References Al-Malik, M. And Al-Takhassusi, F. (2005). The King Faisal Specialist Hospital. London: McGraw Hill. Al-Munif, A. (1988). Strategic and Operational Planning Experience of King Faisal  Specialist Hospital and Research Centre (KFSH RC): It’s Significance to other Health Institutions. Web. Groves, S. Et al. (2003). Evaluating Financial Condition: A Handbook for Local  Government. New York: Prentice Hall. This essay on Evaluating Budget Documents was written and submitted by user Alessandra O. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Bremer the Next Saddam essays

Bremer the Next Saddam essays Coalition forces shut down Iraqi cleric Muqtada al-Sadr's newspaper al-Hawza on 28th March, accusing it of inciting violence. Its doors were barred and tighten with chains and locks by the American troops until a written order by U.S administrator Paul Bremer in Iraq for the closure of the newspaper. This violence Bremer is accusing al-Hawza of is about a bombing in mostly Shi'a town of Iskandariyah, killing 53 people. al-Hawza has further claimed that the rocket was fired by an (American) Apache helicopter and not a car bomb. It was known that because of this article, Bremer has closed down al-Hawza. Free of press has been a difficult task for Iraq. Former president of Iraq, Saddam Hussein, has already been an obstacle for the press freedom in Iraq. Iraqi media organizations had to apply for a license to operate. Even though the U.S. always has been a barrier for the press in Iraq, however, now with the Iraq war, and also with U.S administrator Paul Bremer in power, free of press in Iraq is even harder to achieve. Journalists are increasingly being restrained and threatened by the U.S. installed interim government in Iraq. L. Paul Bremer, President Bush's proconsul in Iraq, also the leader in charge of the occupying powers' Coalition Provisional Authority (CPA), has been in power ever since Bush has assigned the job of an ambassador or an overseer in Iraq. His arrival was accompanied by the removal of Barbara Bodine, one of the few U.S. officials in Baghdad with previous experience in the Middle East. Bremer wants tough new rules governing the Iraqi media to sort the mess out. Bremer has signed that Iraqi media must now be registered. Also announcing proclamation that Iraq citizens no longer have the right to assemble and demonstrate anti-American sentiments, censorship of clerics, and loss of their right to freedom of speech, along with loss of freedo...

Political Issues in Emerging Economies Essay Example | Topics and Well Written Essays - 2500 words

Political Issues in Emerging Economies - Essay Example The Brazilian economy has a strong domestic services sector, which accounts for about 67 percent of the country’s GDP. Major growth areas include insurance, financial intermediation, and retail sales. According to UK Trade and Investment (2012), about 35 million Brazilians moved from Classes D and E to Class C between 2002 and 2012. Consequently, has marked the major economic growth rates, which resulted in a reduction of economic inequalities. In effect, this had an effect of increasing demand from the middle class, an increasing tendency to spend, and provided a major economic opportunity for companies – local and foreign. Partly due to the emerging class of middle class consumers, the Brazilian economy grew by 2.7 percent in 2011, which is lower than the 7.5 percent realised during 2010. Due to these economic changes, there have been efforts that implement policies to contain the increasing inflation since unfavourable global economy has resulted in a retardation of the economy (UK Trade and Investment, 2012). On the other hand, the slowdown contributed to a reduction in basic interest rates in order to boost growth through passing the reductions to consumers and businesses. Importantly, the labour market conditions are relatively favourable, at 6 percent, which is very comparable to the economies lowest. However, local labour regulations are onerous and complex. Therefore, it is important for foreign market entrants to handle them carefully in order to evade costly liabilities. The exchange rate of Brazil was affected to a large extent by the uncertainty in the global economy/ In mid 2012, the Real Dollar slumped from a ratio of 1: 1.73 against the USD to a rate of USD 1: 2.02 (UK Trade and Investment, 2012). In the area of trade, Brazil has remained balanced, but a comparatively closed national economy. The total of trade flows stood at about 25 percent of the economy’s GDP. Brazil’s exports stood at USD 256 billion in 2011 with the major exports being fuel and oil, ores, soybean, transport produce, ethanol, meat, sugar and chemicals. In 2011, the economy’s major consumers were China and US with these two countries representing 17.3 and 10 percent of total exports respectively (UK Trade and Investment, 2012). Other principal consumers include Argentina at 9 percent; Japan at 3.7; and the Netherlands at 5.3 percent. Brazil’s imports stood at USD 226.2 billion for the year 2012. Major imports included chemical products, machinery, automotive parts, oil, electronics, transportation equipment and electrical appliances. The larger

World History Essay Example | Topics and Well Written Essays - 500 words - 4

World History - Essay Example Both men had respect from their soldiers. This respect was fostered out of comradeship. Both leaders lead their soldiers into battle personally. Charlemagne led his soldiers in almost of his battles. Ariel Sharon also led his men into battle. Unlike other generals and leaders, who stayed behind lines to make decisions, Charlemagne and Ariel Sharon believed that leadership choices should be made in the field. As the result, Charlemagne’s campaigns gained territory in Europe, while Ariel Sharon’s battles gained land in the Middle East. Both men were warriors at heart, excelling at the craft of warfare. Charlemagne and Ariel Sharon were also both statesmen. Charlemagne ruled his conquered territories until his death. Ariel Sharon, after retiring from active IDF (Israel Defense Forces) duty, joined the Knesset (Israeli equivalent of Congress). After serving in the Knesset for decades, Ariel Sharon was elected Prime Minister of Israel. Throughout Charlemagne’s rule rebellions requiring his attention occurred. The same circumstances arose for Prime Minister Sharon when the second Intifada (Palestinian uprising) plagued his years in office. Both Charlemagne and Ariel Sharon were accused of ordering massacres. Charlemagne’s massacre was called the Bloody Verdict of Verden. Forty-five hundred men were beheaded on Charlemagne’s orders. Time has clouded the Bloody Verdict of Verden, making Charlemagne’s involvment unclear. Ariel Sharon’s massacre occurred when he served as Israel’s Defense Minster. Sabra and Shatila were refugee camps in Lebanon. When Israel occupied southern Lebanon, IDF soldiers surrounded the Sabra and Shatila camps. No IDF soldier entered the camp, but prevented refugees from leaving when Phalangists (a Christian faction in the Lebanese civil war) entered the camp seeking terrorists. What happened next is of great debate. When the smoke cleared a disputed amount of Palestinians were dead.

2 Questions paraphrased Essay Example | Topics and Well Written Essays - 2500 words

2 Questions paraphrased - Essay Example A federal state can be defined as one that involves the sharing of sovereignty across a number of levels of government whereas a unitary state, on the other hand, involves the concentration of sovereignty at the level of a single central government. These states may be centralized, decentralized, or regionalized. Federalism may be found in unitary states such as France and Italy The unitary form of government was introduced after the French revolution while federal governance was first experimented in US after the American Revolution. This was followed by the confederate form of government. Unitary form of government constituted nationalization which meant that the people of those nations were to be kept united under one common flag and one political government. There was also the involvement of a centralized government to ensure that there was order in the states. On the other hand the federal state is one formed by the association of various states which are usually formed for a common purpose. This will ensures that the member states maintain a huge measure of autonomy and independence. This implies therefore, both unitary and federal systems differ on the basis of autonomy. There is no much autonomy in unitary form of governance as compared to the federal form of governance, where there is considerable intensity of autonomy. However, the unitary and federal form of governments exists in varying forms and therefore they revolve in the extent of central regulation of affairs. The unitary form of government has sub-national governments that exist having strict functions of welfare governance regulated by the center. Both forms of governance involve a field over which they take shifts and since both are not wholly separated, a few states are regarded as being between complete federalism and complete unitary form of governance. The two forms of

Tata Motors A Business Strategy Report Marketing Essay

Tata Motors A Business Strategy Report Marketing Essay Tata Motors Limited, Indias largest automobile company, is the leader by far in commercial vehicles, and the second largest in the passenger vehicles market with winning products in the compact, mid-size car and utility vehicle segments. The purpose of this report is to study and analyze the internal and external environments of the automobile industry in India. The analysis should enable us to assess the current as well as previous strategies of the company and redesign new strategies for further optimization. Key Findings The research shows that Tata Motors has successfully implemented Low-Cost Strategy by providing unmatched value for its customers money. With 50 years of experience, the company has successfully served varied needs of its customers by providing an extensive range of products. Tata Motors is a pioneer in RD department which allows it to constantly innovate and discover new technologies. Recommendations Considering the emerging economy and changing consumers spending, implementation of Low-Cost Strategy might not benefit in the long run. Consequently, it is recommended that the company should follow differentiation strategy and focus on providing unique goods and services to win over the market from the rivalry players. By bringing revolutionary changes in the market, it would not be unrealistic to think of a future where customers would willingly pay for the added value to the product. Introduction Outline of Business under study Tata Motors, a subsidiary of the Tata group, was formerly known as TELCO (TATA Engineering and Locomotive Company). The group takes its name from the founder Jamsedji Tata and has its headquarters at the Bombay House in Mumbai, India. Established in 1945, Tata Motors has more than 4 million vehicles driving on the Indian roads. It was the first Indian company from the engineering sector to be listed in the New York Stock Exchange. It made its place amongst the worlds top three passenger vehicle makers and is currently the leader in commercial vehicle. It also stands as the fourth largest truck and second largest bus manufacturer. The company employs 23,000 workers, who are directed by the vision to become the best in its operations and product while staying intact with the business ethics and value system. The multinational often hits the headlines because of its takeovers and mergers, especially with the recent acquisition of Jaguar Land Rover (Tata Motors 2011). External Analysis of the Automobile Industry Ever growing Indian population and hence the workforce, has increased the number of independent earners. This favourable trend provides a greater scope for the development of automobile industry in India. During 2008 the industry had a share of up to 3.9% in countrys GDP, which is expected to rise to 10% by 2016 (India Retail Report Q1 2011). Consumer spending on transport is also expected to experience an upward trend and advance by 73.2% in 2007-2015. Also, increased investment by the government for improved road infrastructure has further led to a growth in multi-axle vehicles (Euromonitor International 2008). Reason for studying Tata Motors Tata Motors is lately the most talked about company. Over the years it has emerged as a low cost vehicle manufacturer with prime focus on innovation. In divergence to its strategy, it would be interesting to learn about its new ventures in the luxury market. The study therefore focuses on closely scrutinising and reviewing its current tactics and verifying for any scope for improvement. Strategic Analysis Methods Techniques for Data Collection For the execution of this research, we conducted an in-depth study of the available secondary data. The gathered information was verified with the online company records, reports and official websites. Tata Motors Internal Records and Annual Reports Companies internal records helped us analyzed its current position by revealing its earnings until 2010 and understanding its past strategies and actions. Online Databases Data retrieved from EBSCOhost database, Factiva database and e-books available online at Deakin library and google scholar proved to be extremely beneficial. Online Websites and Other Resources Reliable articles, magazines, statistical trends, government websites and other relevant online sources like financial express, further enlightened our knowledge about the company. Text Book and Lecture Notes The textbook Exploring Corporate Strategy by Gerry Johnson provided us with the framework to go about this project. Study guide and lecture notes were also valuable source for information. Business Strategy Statement Tata Motors aims to emerge as the world-class automobile leader with the remarkable price-performance ratio in combination with hyper-efficient engines to acquire the large market share internationally. Tata Motors mission is to create an organisation that people enjoy working for, doing business with and investing in. It focuses on customer needs to provide them a range of innovative products and maintain long-term relations, by working closely with its workforce and business partners. The companys purpose is to consistently create shareholder value by generating greater returns and to foster long lasting ties with the vendors and channel partners (Global Reporting Initiative 2010). The companys objective is to invest INR28.8billion over the next few years for increasing its production and INR60billion for the expansion of the existing manufacturing plants and in setting up vehicle testing facilities (Automotive Manufacturing Solutions 2010). Tata Motors unmatchable ability to manufacture low cost vehicles provides the company with a greater scope of earning high profit margins and enjoys a greater market share. Economic slowdown has hyped the competition to provide low priced but the best quality vehicles. Understanding rural Indian economy and growing incomes of the farmers, Tata Motors view increased opportunities for its commercial sector (Thakkar 2010). Nevertheless Tata Motors have a range of upcoming Jaguar and Land rover cars for the luxury brand buyers to capture the higher-income/premium customer segment. This could create a greater success for the company in near future. Tata Motors have remarkable advantages of manufacturing in India when compared to other MNC competitors. It benefits from the low labour cost, extensively skilled and interwoven backward and forward linkages, boosting IT engineering, strong auxiliary industry, substantial knowledge of the market, improving infrastructure and increasing domestic demand. Tata Motors aspires to be a world-class maker of quality vehicles by striking balance between the needs of its customers, employee, suppliers, investors and the community as a whole. Analysis of External Environment of the Business Macro Environment analysis Economic Factors: The Indian economy has experienced constant growth due to the increasing per capita income, which grew by 14.2% in 2006-07. The total consumer spending increased by 73.9% during 1995-2007 this is expected to reach 58.2% in 2007-2015 (Euromonitor International 2008). According to the World Factbook (2011), Indias inflation rate rose to 11.7% in 2010 driven by increasing food and fuel prices. Moreover, rising commodity prices and hardening interest rate has posed immense pressure on costs and margins of Indian manufacturers (Mitra Sen 2011). Figure 1: India GDP Source: Index Mundi 2011 Demographic Factors: Indias total population of 1.19 billion constitutes 70% potential buyers, which are below 35 years. It is seen that 130 million people had been added to the working population between 2003 and 2009. This indicates an increase in number of people with lesser dependency. The trend is likely to add value to vehicle demand with a shift toward high end cars (Automotive Mission Plan 2006). Figure 2: Vehicle Sales in India Source: India Retail Report Q2 2011 Political-Legal Factors: Indian government has taken several incentives under the current 11th five year plan (2007-2012) to boost the automobile sector. The Finance bill 2006 has reduced the excise duty on the small cars and duty on raw material which is now 5-7.5% as compared to the previous level of 10%. The Ministry of Finance announced 150% weighted deduction under the income Tax Act for in- house RD expenditure for all sectors (Anand 2009). The government has introduced a National Automotive testing and RD Infrastructure Project (NATRIP) which is based on building world class testing and RD infrastructure for vehicles in the country for automotive safety, emission and performance standards in India. Moreover, the Government has allocated a part of its budget for the improvement of road infrastructure (Planning Commission 2006). Environmental Factors: Increasing consciousness about global warming requires production of fuel efficient vehicles. Moreover, diesel fuelled locomotives pose greater threat to the environment as compared to the CNG vehicle (Centre for Science and Environment 2011). Furthermore, Recent disclosure of Euro V standard by the European commission requires India to revise its emission standards (Automotive Mission Plan 2006). Recently legislated carbon tax on coal producers has provided a source of financing clean energy research and development (Building Green Business 2010). Technological Factors: The automobile industrys spending on RD has increased from US$54.58 million to US$214.26 million in last four years which is 0.8% of the total nations GDP (The Financial Express 2008) (Ramanathan 2011). Furthermore, NATRIP is aiming to integrate the strengths of IT and electronics with the automobile engineering sector (Planning Commission 2006). Impact of Macro Environment on Business: Overall, developing economy with growing working population and consumer spending indicates an increase in the consumer demand, subsequently a growth in the automobile industry. Other prime factors contributing to this trend are improved expenditure on RD, boosting IT and reduced duty on raw materials. However, the escalating fuel and commodity prices and rising interest rates can obstruct industrys progress. Thus PESTEL analysis shows that mainly the economic and demographic factors are likely to be the main drivers for the advancement of automobile industry in future. Industry Analysis Threat of new entrant: Emerging Indian market is attracting automobile companies from all over the world. International car rental firms are posing a greater threat with nearly twelve brands, expected to enter the market (Gupta Shekhar 2010). However, Tata Motors enjoys economies of scale and level of experience, thus challenging for the new entrants. Figure 1: Five force framework Source: Johnson, Whittington Scholes 2011 Bargaining power of buyers: Increasing disposable income and availability of better alternatives have raised the customer expectations and array of choice. This has led to a decline in consumer loyalty towards particular vehicle brand. Indian consumers are now enjoying the greater bargaining power (Gupta Shekhar 2010). Bargaining power of Suppliers: The Indian auto component industry has witnessed a strong growth during 1995-2005, subsequently making automobile one of the fastest growing Industry. Increased availability of supply sources has lowered suppliers bargaining power. This can be seen in Tata Motors extended forward and backward vertical integration of its value chain through acquisition or creation of steel, manufacturing and retail operations (Zahrai 2009). Rivalry between Competitors: Indian automobile industry is highly competitive with three major players, namely Maruti Suzuki, Tata and Hyundai. Tata Motors and Hyundai Motors have nearly equal percentage of market share, although less than Maruti Suzuki. An important factor, which adds fuel to the competition, is that all major vehicle providers are highly competent to pursue opportunities with aggressive strategies. Figure: Market Share of Passenger Vehicle Providers (2010-2011) Source: Adapted from The Economic Times 2011 Threat of Substitutes: Automobile industry in India may fear the rapid development of public transport, most economical and speedy being metros. The analysis infers that four forces are strong enough to make this industry less attractive. However, to survive Tata Motors need to closely monitor the competitor actions and respond quickly to the changes in customer needs and expectations. Strategy Canvas Source: Adapted from Taylor 2011 Critical Success Factors The Critical Success Factors will enable Tata Motors to gain competitive advantage over the competitors to enter the blue ocean. Economies of Scale: Reaping the benefits of economies of scale, Tata Motors has been able to establish itself as a successful low cost provider (Business India Intelligence, 2008). Diversification: Tata Motors product line ranges from worlds cheapest car to expensive models such as Jaguar and Land Rover to trucks passing the million unit output mark reaping the benefits of economies of scale (Maekawa 2008). Innovation: Today the company employs over 2000 engineers and scientists, providing a leading edge in RD. This endowed technological capability has allowed constant innovations, thus serving the unique needs of the customers (IBEF 2010). Analysis of Internal Environment of the Business Companys Capabilities and Strengths Tata Motors have distinctive capability due to its comparative advantage in producing low cost cars, which is out of the reach of competitors. The value chain for Tata Motors starts with the IT teams innovation as a tool for business growth. Primary Activities Inbound logistics such as Tata Power Co., Tata Steel help them gain economics of scale. RD, designing, manufacturing, assembling, Kaizen TPM teams for testing and packaging to improve its operating efficiency. To capture significant market, it provides variety of light and heavy commercial, utility vehicles, and passenger cars. Tata distribution Company limited (TDCL) provides logistics support for distribution. The company optimized its cost on sales and marketing to ensure awareness about their latest launches. Easily reachable service centres, 24 hours IT Service desk and Tata AIG insurance finance facilities provide an ease to the customers (Tata Motors 2011). Support activities Tata constantly strives on innovation by providing its employees with a room for development through vocational and cross-functional training programs. Its HR process has been automated for far reaching profits. Competitive Strength of Business Tata Motors give tough competition to other players in automobile industry with its strong low cost strategies like production of Tata Nano. These schemes provide value for service to customers. SWOT Analysis Strengths Weaknesses Strong domestic player with a turnover of approximately $15,771.6 million in 2009. Extensive range of commercial and passenger vehicles with several variants to suit customer preferences. INR50,154million expenditure on robust research and development (RD) capability with Strong engineering skills in designing. Enjoys Low labour cost by manufacturing in India. Ultra cheap Nano, which was designed to replace the two wheelers with an affordable four-wheeler, was their greatest achievement. Tata Motors had debt of INR435, 815 million at the end March 2009, which unable cash inflow and degrades creditworthiness. General public associate Tata as low price and hence low quality, however this image may not do well in the premium sector. Inferior labour productivity and lean production. . . Opportunities Threats Technical know-how may transfer from Jaguar Land Rover and also the premium brand can benefit from reduced cost. Emerging market of India with increasing income levels. Infrastructure development in India will further increase the vehicle demand. Fuel efficient and eco friendly cars may find its way into the market. The price of raw materials is increasing and the company cannot pass the burden to its non-affluent customers. Rising fuel prices may have an adverse effect. Cost of meeting environmental regulations. Global financial crisis of 2007-08 has lead to financial crunch thereby rising the interest rates. Developing markets has attracted severe competition which could jeopardise Tatas position. Source: Datamonitor 2010 Strategy and Culture Tata Motors have a distinct way of doing business, more profoundly known as, The TATA way. The most deeply engraved value in the company is trust. The companys logo, leadership with trust personifies peoples belief in the brand. Thus the company respects the trust embedded in it by many and strives to honour its commitments. Other five core values that underpin the Tata way of doing business include integrity, responsibility, unity, understanding and excellence (Tata Motors 2011). The corporate governance of the company originates from its rich legacy of ethical, fair and transparent governance practices followed since ages, even before they were made mandatory by fostering highest standards of professionalism, integrity, honesty and ethical conduct (Corporate Sustainability Report 2008). Information and power passes through a vertical hierarchy with CEO being the foremost authority. The vice chairman of Tata Motors, Ravi Kant, attaches greater importance to communication. He strongly believes oral communication helps one understand the behavioural pattern. As a leader, the body language, communication style and the way of treating employees matter the most because the followers observes and take their own cues. Friendly relations with workers allow easy flow of ideas, thereby encouraging greater yield. Further, Code of Corporation Disclosure Practices confirms transparent declaration of its operations (Business Strategy Review 2010). Company successfully integrates advanced international HR management processes by retaining local managers in recent acquisition and transferring few senior managers from India. This makes exchange and adaption to new expertise easier while maintaining the companys core values. Quality has always remained the cornerstone of the Tata way of business; as such a formal system to scale the performance of different companies was introduced. TQMS help companies under the Tata group to conduct and enhance its business endeavours especially in relation to business excellence and ethics. Further, JRD Quality Value Awards named after the late chairman of the group, JRD Tata where incorporated for ensuring and encouraging quality consciousness. The award acknowledges the company within the group that achieves highest level of quality and excels quality management (Tata Motors 2011). Such practices entrench a learning environment that would consequently help achieve leadership in the marketplace by constantly striving to become the best. Strict fellowship of companys culture has allowed it to smoothly adhere to its strategy. Business Strategy Choice Tata Motors has constantly strived to be a low cost leader in the automobile market. Thus by employing Low cost strategy, it has made its presence felt especially in the untapped and developing markets like India. The most evident example is that of the ultra-low cost Nano. However, with increasing interest rates, raw material and fuel prices the company may not be able to sustain this strategy in the long run. Nevertheless, macro environment analysis suggests that economic growth and rising disposable incomes may increase the potential luxury vehicle buyers. Thus, TATAs acquisitions of Jaguar Land Rover seem to be a sound decision. Also, the ever-increasing competition in the industry requires Tata to implement Differentiation strategy. In accordance to this strategy, the company must focus on providing unique goods and services to win over the market from the rivalry players. This would allow the company to enjoy a premium price that the customers would willingly pay for the added value to the product. Implementation of this strategy can be a piece of cake for Tata Motors if it duly considers the following- Strategy execution Indulge in aggressive RD to ensure innovations that can add value to the product at minimum cost. This will include designing sophisticated eye-catching models. Adopt sustainable practices and maintain healthy relations with all the members of the value chain and constantly upgrade their knowledge by encouraging a learning environment. Conduct surveys to keep the company updated with the current demands of the buyers and meet them much before the rivals. Rising awareness about global warming and ever increasing fuel prices will see a growth in the green car sector. Thus adding super efficient engine and eco friendly vehicles to the companys portfolio will win a greater market. Improving the budget Regardless of the growing profits, the company must focus on getting rid of the substantial debts and avoid deals that may degrade their creditworthiness. Focus on improving global sales for speedy recovery of fixed cost. Outsourcing Outsourcing of trivial operations is worth the expenditure as it allows the company to concentrate on vital jobs required to stimulate differentiation. Ensuring Improvement The company must encourage interaction between the supply chain members for constant up gradation of the market demand and quicker delivery, thereby directing efforts towards the improvement of production time cycle. Promoting customization, where buyers can customize their vehicles as per their desire, can be an attraction for experimenters. Capturing greater chunk of market by launching altered models with varied prices for each segment. Conclusion The study shows a brighter future for the automobile industry in India. However, vigorous scope for the development of this market has attracted many players. Availability of numerous alternatives and substitutes has further increased customers expectations. Also, the growing youth market comprises of the experimenters, who desire up gradations and new innovations in their possessions. All these analyses provide Tata Motors to become more sensitive to the needs of the buyers and ensure is execution much before the rivals. The company must constantly explore new markets and ensure new innovations because the risk takers are the profit makers. Over and above the company can segment the market and have something for everyone in order to capture a major proportion of the market. Understanding the immense competition where every automobile company is fighting to become the best, Tata Motors is required to build additional competencies. The brand must stabilise its position as a leader in the commercial vehicle market and set new trends in the passenger. The recommended differentiation strategy will give the company a leading edge through its careful implementation and execution.

Reflective Writing - My Development as a Writer Essay -- Bilingual Eng

A Nomad Writer America is a place full of immigrants with no single ethnicity or race. America can also be referred to as the ?Melting Pot? because it consists ingredients of multicultural backgrounds. There are cultures such as French American, Asian American, Italian American and African American. I am Mexican American. My culture has helped me to become the writer I am today. My bicultural background and constant moving back and forth from Mexico to America has both influenced and weakened my writing. Although I was born in America, my Mexican culture has always been a part of my life. I have spent the majority of my life in Mexico, and Spanish is my first language. After I turned one, my family moved to Ciudad Juarez, Mexico. Raised there, I developed a routine of speaking Spanish throughout the day with my mother, and speaking English in the evening with my father when he arrived home from work. Speaking two languages at home was completely normal to me and easy for me to adjust. However, th e school I attended as a young kid was much more difficult. The small kindergarten and elementary school I went to over packed their classrooms with twenty more kids than the set limit. The teachers did not have a lot of physical materials to teach with; they only had two pieces of chalk, a board and stamps. Ciudad Juarez is a highly populated and dangerous city in terms of first-degree crimes such as rape and murder. They have a poor education system offered in both public and private schools, which weakened my first experiences with learning. As a child, I felt unsafe learning in such a poor environment and wanted to leave school and go home early everyday. Af... ... but sometimes I still struggle just as many other foreign speakers do. Regardless of the culture, literature allows for people to express themselves. Because of my bicultural background, I am a person who understands literature as a form of communication for every culture. My experience with two different languages allowed me to become the writer I am today with strong ideas. My writings at the University of Arizona, related to the importance of my culture and how it affects my life. I have become a successful student due to the fact to that great importance I see. My classmates in the required class for my Hispanic Alumni Scholarship have also become successful writers and students. One of the students in my class, Jordan Garcia, has had three of her essays published for the newspaper. Culture makes one a successful person, and motivates one to write.