Speed Cast International Ltd Annual Report †Myassignmenthelp.Com

Question: Discuss About The Speed Cast International Ltd Annual Report? Answer: Introduction AASB 16 shall be effective from 1st January 2019 onwards, the main objective of which is the recognition of all kinds of leases that are above 12 months in the financial statements. Under this standard, the lessee shall recognize the right to use an asset on the assets side and the liability to pay the lease payments on the liability side of the balance sheet. Further, the lessee shall also record the depreciation of such leased asset and the interest on lease liability in its income statement (AASB, 2016). Also, the cash flows shall show the cash repaid portion of lease payments and bifurcate it into interest and principal. This shall be common for all types of leases whether operating lease or finance lease. Hence, the application will cater to both types of leases. We shall elaborate the above points with regard to a company in GICS Sector Speed Cast International Limited, a leader in the field of network service from the perspective of a stakeholder, say the Shareholders of the company. Change in leasing standard and its impacts Amendments in the lease standard The leasing standard has been changed due to the reason that the earlier model required to classify the lease into operating lease and finance lease but did not require the lessee to show the leased asset and its liability in its financial statements in case of the operating lease (AASB, 2016). Due to this the users and stakeholders of the financial statements of the lessee were not finding a satisfactory presentation of the lease transactions in the financial statements of the lessee in case of an operating lease. Hence the concerned boards have decided to make the requisite amendments to the leasing standards (Porter Norton, 2014). Disclosures in the income statement The change will be that the lessee will have to record the right of use of the asset in the balance sheet and consider it as a depreciable asset and also show the obligation to pay off the lease payments as liabilities in the balance sheet (Northington, 2011). Further, the depreciation of the said asset and interest on the lease payments shall be disclosed in the income statement. Distributable profits The above said changes will have an impact on the net incomes shown in the income statement of the lessee as the interest on lease payments as well as depreciation will be added to the expenses in the income statement. Hence the net incomes will get reduced. Such as reduction in net distributable incomes shall affect the shareholders of the company as the distributable profits will reduce and thus the earning per share will reduce. Therefore, it will impact the wealth of the shareholders since there will be a reduction in the profits of the company. Decision making ability The benefits to the shareholders will be that after the new lease standards are adopted, the shareholders will have a transparent picture of the lessee companys financial leverage and capital employed and as such a better comparison can be made as to in which company they should invest further. The decision-making ability of the investors will undergo an immense change. The disadvantage shall be the reduced portion of their profits in the form of dividends and also a reduction in total equity. Effect of AASB 16 on Financial Statement Recognition of lease effects First, we shall ascertain the effects of the new standard on the lessee companys financial statements that is Speedcast International Limited. The changes in the recognition of lease effects will change the related ratios such as net profit ratio which was 2.70 % for the year ending December 2016, Net Leverage Ratio which was 8.67% and other such ratios (Melville, 2013). The N.P Ratio will decline due to increase in the interest and depreciation expense. The Net Leverage Ratio will show an increase due to rise in borrowings which are the lease payable (Speedcast International Ltd, 2016). Other ratios such as interest coverage ratio, Earning per share will also show a downfall due to increase in expenses and decrease in net profits. When the expenses are on a surge and the Earnings and dividends The effect on the stakeholders financial statements will be that as the earnings and dividends will reduce from the lessee company and such it will reduce the net profit of the stakeholders also. Further, due to a reduction in dividends and earnings per share, the market price per share may reduce and thus the total value of investments may reduce which is shown in the balance sheet. Reporting on the environmental and social aspects of the leased assets When it comes to reporting regarding the environmental and social aspects such as energy use and efficiency, carbon emissions, etc of the leased assets, it should be the responsibility of that entity which has got the right to use that asset and is actually using it. The reason behind this is that as the asset is no longer in the hands of the lessor as the lessee has legally taken the right to use the asset and is using the asset for the business operations (Bodie et. al, 2014). For our chosen stakeholder that is the shareholders, there are no regulatory requirements for such reporting as the lessee company is using the assets for its business use and the shareholders are not using the assets for their individual use. The following points are reported: Whether or not the emissions from the leased asset are creating any health hazard to the environment. Whether or not the regular pollution control and checking are done for the leased asset. Whether or not the user of leased assets is fulfilling the requirements of reporting to the regulatory authorities within time. Other such related points which are important to ensure that the society and environment as a whole are not being harmed by any leased asset. Hence, the lessee should ensure that the society or the environments are not affected by the lease arrangement. For example- water or air pollution, soil erosion, cutting of the tree, emission of harmful gases, loss of jobs. This is required as this will adversely affect the society and environment which shall have long-term ill effects (Shah, 2013). On the other hand, if the lease arrangements give back advantages to the society, it will be advantageous in both short and long run for the owner or user as well. Hence, it will create a positive impact that will help the organization, as well as the society at large. Usefulness of AASB 16 to the users of financial statements of the lessee company. The overall reporting after the AASB 16 comes into effect shall be more beneficial and informative to the users of financial statements. The changes in reporting and its use by the users of financial statements can be summarized in following points: Change in the financial metrics The new standard that will be effective from the year 2019 shall almost eliminate the reporting of the leases off balance sheet and the lease transactions will be shown on the balance sheet and income statement. Earlier and at present also the financial lease is shown in the income statement and balance sheet but the operating lease is being shown outside the financial statements in the notes to accounts (Libby et. al, 2011). The proposed change will help in redefining of the financial metrics such as the financial ratios like gearing ratio, and other such ratios (KMPG, 2016). It means that the effect of operating lease and their effect on the ratios will also be known to the users of financial statements. The benefit of this will be ease of comparison with other companies in the industry but the disadvantages are also there as the net profitability of the company will go down further affecting the creditability, the finance costs and also the perception of the stakeholders. Disclosures of the profitability segment and the asset base of the company The users of the financial statement will better know the asset base of the company once this standard comes into effect as the assets that are being used by the company whether owned or leased will be reflecting in the balance sheet (Damodaran, 2012). At present the assets under operating lease are shown as off-balance sheet item (KMPG, 2016). The users are generally aware of the financial statements and do not go into in-depth study in the notes to accounts and other information. Disclosures necessary for the financial institutions imparting loans to the lessee company. The information regarding the net worth of the company, the existing borrowings, the profitability of the company and such matters are of utmost importance for the financial institutions from which the company seeks financial assistance (Parrino et. al, 2012). When the operating lease is not recognized in the financial statements although the right to use the asset is vested in the company, this does not give the correct picture of the financial position of the company to the financial institutions (KMPG, 2016). Hence with the implementation of the AASB 16, the financial institutions will have a clear image of the financial position before imparting any more loans and advances. Investing decisions The users of the financial statements of the lessee will now determine whether they want to further invest in the company or not. This is due to the fact that the company shall show the interest and depreciation expenses in the income statement which will for sure bring down the profitability (BDO 2016). Further, this will impact the earnings per share/dividends to the shareholders and may be a reduction of the market price per share. This may result in a reduction in the number of investors of the company as they will start getting lower returns on their investments (Speedcast International Ltd, 2016). Summary of the total report to be presented to the Chief Executive Officer The total concept of AASB 16 shall be summarized through following precise points: Lease recognition As per the earlier and present standards on leasing, the leases are classified in the financial statements as operating lease and finance lease. With the coming of the new standard, all the leases will be recognized in the same manner and there will be no difference in the operating and finance lease with regard to their recognition in the financial statements (AASB, 2016). Ratio analysis The new standard will affect almost all the financial ratios such as gearing ratios or net leverage ratios, current ratio, asset turnover ratio, interest coverage, net profit/ margin ratio. Other financial metrics will also be affected such as EBITDA, Net Profits, earning per share, dividend per share, operating cash flows, etc (BDO 2016). Changes in the standard The changes in the standard will affect the perspective of the stakeholders of the company such as shareholders, investors, government, employees, financial institutions, etc. as there will be changes in the credit ratings, borrowing costs, net asset values, earnings per share of the company which directly or indirectly affect the stakeholders (Needles Powers, 2013). New standard for new standards. The implementation of the new standard will increase the total expenses of the lessee company as the lease rentals will be replaced by interest on the lease was taken as well as the depreciation on the right to use assets (Williams, 2012). The main effects will be that due to the large assets such as ships, aircraft, big machinery, etc. and not small assets such as computers, laptops, small equipment, etc Conclusion Going by the overall discussion it can be commented that the new standard will be highly beneficial to the organization and eliminate the lease reporting and will thereby appear on the balance sheet. Hence, a level of an enhanced transparency will be witnessed. From the amendment and updating point of view, it can be said that the new standard will altogether bring a vast change in the reporting mechanism in respect to the operating leases which was treated as an off-balance sheet item. Hence, the shareholders will be able to get a better grasp of the lease operations which was not possible earlier. Though there are certain problems but in totality the mechanism will be highly beneficial and bring widespread transparency. References AASB 2016, Leases, viewed 19 September 2017 https://www.aasb.gov.au/admin/file/content105/c9/AASB16_02-16.pdf BDO 2016, New leases standard requires virtually all leases to be capitalised on the balance sheet, viewed 19 September 2017 https://www.bdo.com.au/en-au/accounting-news/accounting-news-february-2016/new-leases-standard Bodie, Z., Kane, A. Marcus, A. J 2014, Investments, McGraw Hill Damodaran, A 2012, Investment Valuation, New York: John Wiley Sons. KMPG 2016, AASB 16: A fundamental overhaul of lessee accounting effective 2019, viewed 19 September 2017 https://home.kpmg.com/au/en/home/insights/2017/04/aasb-16-fundamental-overhaul-lessee-accounting.html Libby, R., Libby, P Short, D 2011,Financial accounting, New York: McGraw-Hill/Irwin. Melville, A 2013, International Financial Reporting A Practical Guide, 4th edition, Pearson, Education Limited, UK Needles, B.E. Powers, M 2013, Principles of Financial Accounting, Financial Accounting Series: Cengage Learning. Northington, S 2011, Finance, New York, NY: Ferguson's. Parrino, R., Kidwell, D. Bates, T 2012, Fundamentals of corporate finance, Hoboken, NJ: Wiley Porter, G Norton, C 2014, Financial Accounting: The Impact on Decision Maker, Texas: Cengage Learning Shah, P 2013, Financial Accounting, London: Oxford University Press Speedcast International Ltd 2016, Speedcast International Ltd Annual Report Accounts 2016, viewed 19 September 2017 https://www.speedcast.com/speedcast-reports-full-year-2016-results/ Williams, J 2012, Financial accounting, New York: McGraw-Hil

The Effect of Other Countries Dumping in United States Why America is acting against Chinese Dumping in the US

Table of Contents Introduction The concept of â€Å"dumping† Why is China dumping in the US? The impact of Dumping in America Concept of ant-dumping policy Effect of anti-dumping policy Works Cited Introduction Over the last two decades, most countries, including the United States, have become more cautions of the excessive supply of cheap products from foreign markets. In particular, the United States has enacted anti-dumping campaigns and measures to control the influx of cheap goods from, among other nations, China. Since China accessed the world trade organization in 2011, its reach for western markets has grown tremendously.Advertising We will write a custom essay sample on The Effect of Other Countries’ Dumping in United States: Why America is acting against Chinese Dumping in the US specifically for you for only $16.05 $11/page Learn More However, America and her western counterparts have been reluctant to engage China in mutual trade, considering the excessiveness of cheap products China has been supplying to foreign nations (Messerlin 109). The US considers this excessiveness of cheap good from China as â€Å"dumping†, thus employing various strategies to protect her industries against the overflow of cheap Chinese goods in the local market. This is also becoming the situation affecting India as it grows to be the second largest producer of cheap products after China. The purpose of this discussion is to analyse the impact of â€Å"dumping† in American market by foreign nations, with a special reference to China. Arguably, despite the accession of China to the WTO and the fact that China hosts a large number of American manufacturer’s, there is need for the United States to continue protecting her market and industries from dumping. The concept of â€Å"dumping† According to Vandenbussche and Zanardi (93), dumping is defined as an international trade situation where a productâ €™s export price is significantly lower that its market price in the country of origin. However, it is worth noting that the sale of a product based on bargain price is not included in the definition for dumping. Why is China dumping in the US? It is no doubt that America is a major market for products from all over the world. In fact, most nations seek to develop trade relationships and agreements with the United States in order to access America’s potential and developed market. However, America is also a major producer and exporter of commodities in the world, and targets foreign markets for its goods. In the recent past, however, the emergence of large economies like China and India has threatened America’s presence in the world market. China’s accession to the WTO in 2001 improved the trade relationship between China and America, which has seen the Chinese manufactures target America as a chief market for their goods (Blonigen and Bown 43).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the other hand, American corporations have set up major outlets in China, especially in the manufacturing sector. However, there have been problems in this relationship, which seems to affect America more than they affect China. First, China has the world’s largest population at more than 1 billion people. The presence of cheap labour is evident in China. Chinese workers are paid a fraction of what most low-paid employees get in the western world. As such, Chinese manufacturers enjoy cheap and readily available labour. This places them at an advantage over the American firms, which in turn allows them to sell their products at a cheaper price in the US. In fact, American corporations such as Apple have moved to China in search of cheap labour, but their main market remains in the US. The impact of Dumping in America The impact of this is that Am erican market is flooded with cheap Chinese goods because they are cheaply produced in China. American firms face stiff competition from these products because they cannot produce cheap products due to high cost of production. When American firms lose the local market to their Chinese counterparts, their production and growth reduces. As such, their rate of hiring reduces, while layoff rates are likely to increase. As more people purchase cheap Chinese goods, the rate of unemployment is likely to reduce in the US, while that of China increases. Finally, Chinese goods are not necessarily made to meet American standards. Dumping sub-standard products in American market for the sake of cheap price is likely to affect the American economy because consumers will be spending large amount of resources to replace these products. Concept of ant-dumping policy In 1994, members of the world trade organization made an agreement on implementation of its Article VI, which imposes the responsibili ty of nations to curb dumping in their markets (Van den Bossche 56). The agreement, known as the â€Å"Anti-dumping Agreement†, was developed under the General Agreement on Tariffs and Trade in the 1994 convention.Advertising We will write a custom essay sample on The Effect of Other Countries’ Dumping in United States: Why America is acting against Chinese Dumping in the US specifically for you for only $16.05 $11/page Learn More It allows member nations to impose anti-dumping measures to protect the domestic industries that can result from excessive presence of cheap foreign products in their markets (Van den Bossche 63). However, this must be pursuant to (and through) investigations under the 1994 agreement. In addition, a country’s imposition of a duty to curb dumping in its local market must be determined by the margin of dumping at a given time. This margin is obtained by finding the difference between the domestic selling pri ce in the exporting country and the export price of a given quantity of commodity. The dumped price can be considered a â€Å"fair price† and thus not significant reason to impose a duty when export price is added to dumping margin. In case it is difficult to determine a comparable price for offering the product in the domestic market due to low or lack of volume sales in the normal process of trade, the country must investigate the possibility of dumping by comparing the import price with the same price in a third nation. Alternatively, the WTO agreement requires the country to develop a â€Å"constructed value†, which should be used in comparison with the export price. There is a great deal of freedom for countries to impose anti-dumping measures against their trading partners. For instance, a government is not required to provide consent or even offsets to an initiative taken as a countermeasure by its trading partner. Effect of anti-dumping policy Anti-dumping poli cies, such as the one initiated by the US against China, have a wide range of effects on both local and foreign economies. With implementation of such policies, products are likely to become less attractive to an importer, which favours local products. Local firms are likely o enjoy reduced competition. In addition, local firms enjoy tremendous growth and expansion, which provides a source of employment for the local population (Nelson and Vandenbussche 127).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, anti-dumping policies have some negative impacts. For instance, local firms need to import some goods and raw materials that are not available in the local market. When a foreign nation such as China has been targeted with an anti-dumping policy, it is likely to reciprocate by increasing the price of exporting such materials to the trade partner. As such, local firms are likely to face tough terms and conditions as well as high prices when importing products from the targeted country. Moreover, such a policy is likely to discourage competition in the market, which in turn hinders development. In addition, it is likely to favour local firms such that they increase product prices deliberately since there is no competition. Works Cited Blonigen, Bruce and Chad Bown. â€Å"Antidumping and Retaliation Threats†. Journal of  International Economics 60 (2009): 249–273. Print Messerlin, Patrick. â€Å"China in the World Trade Organization: Antidumping and Safeguards †. World Bank Economic Review 18.2 (2008): 105–130. Print Nelson, Douglas and Hylke Vandenbussche. The WTO and anti-dumping. New York: Edward Elgar Publishing Limited, 2009. Print Van den Bossche, Peter. The Law and Policy of the World Trade Organization. Cambridge, UK: Cambridge University Press, 2010. Print. Vandenbussche, Hylke and Maurizio Zanardi. â€Å"What Explains the Proliferation of Antidumping Laws?† Economic Policy 23 (2008): 93–138. Print This essay on The Effect of Other Countries’ Dumping in United States: Why America is acting against Chinese Dumping in the US was written and submitted by user Aria N. 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.

Pronouncing Words That End in -lm

Pronouncing Words That End in -lm Pronouncing Words That End in -lm Pronouncing Words That End in -lm By Maeve Maddox Not many one-syllable English words end in the letters -lm. Sometimes the l in them is pronounced; sometimes it isnt. Heres a list of the most common -lm words, together with the pronunciation in the phonetic notation given at Answers.com. Many Americans pronounce all of these words with an l. alms [mz] balm [bm] calm [km] elm [Ä•lm] embalm[Ä•m-bm] film [fÄ ­lm] helm [hÄ•lm] palm [pm] psalm [sm] qualm [kwm] realm [rÄ•lm] whelm [hwÄ•lm] These pronunciations all agree with those given in the OED. Additionally, the OED acknowledges U.S. pronunciations with the sound of l for palm, psalm, and qualm. Merriam-Webster uses the symbol ] to indicate a sound that facilitates the placement of variant pronunciation. For example, ï ¿ ¼]mz. This symbol, which seems to indicate an almost l, is used for the first pronunciation given for alms, balm, calm, embalm, palm, psalm, and qualm. The pronunciation with a full l sound is given as an alternate: also ]lm. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Spelling category, check our popular posts, or choose a related post below:Bare or Bear With Me?How Long Should a Paragraph Be?When to use "an"

The Mexican-American War

The Mexican-American War From 1846 to 1848, the United States of America and Mexico went to war. There were several reasons why they did so, but the most important ones were the US annexation of Texas and the Americans desire for California and other Mexican territories. The Americans took the offensive, invading Mexico on three fronts: from the north through Texas, from the east through the port of Veracruz and into the west (present-day California and New Mexico). The Americans won every major battle of the war, mostly thanks to superior artillery and officers. In September  1847, American General Winfield Scott captured Mexico City: this was the final straw for the Mexicans, who finally sat down to negotiate. The war was disastrous for Mexico, as it was forced to sign away nearly half of its national territory, including California, New Mexico, Nevada, Utah, and parts of several other current US states. The Western War American President James K. Polk intended to invade and hold the territories he wanted, so he sent General Stephen Kearny west from Fort Leavenworth with 1,700 men to invade and hold New Mexico and California. Kearny captured Santa Fe and then divided his forces, sending a large contingent south under Alexander Doniphan. Doniphan would eventually take the city of Chihuahua. Meanwhile, the war had already begun in California. Captain John C. Frà ©mont had been in the region with 60 men: they organized American settlers in California to revolt against the Mexican authorities there. He had the support of some US navy vessels in the area. The struggle between these men and the Mexicans went back and forth for a few months until Kearny arrived with what was left of his army. Although he was down to fewer than 200 men, Kearny made the difference: by January of 1847 the Mexican northwest was in American hands. General Taylors Invasion American General Zachary Taylor was already in Texas with his army waiting for hostilities to break out. There was already a large Mexican army on the border as well: Taylor routed it twice in early May of 1846 at the Battle of Palo Alto and the Battle of Resaca de la Palma. During both battles, superior American artillery units proved the difference. The losses forced the Mexicans to retreat to Monterrey: Taylor followed and took the city in September of 1846. Taylor moved to the south and was engaged by a massive Mexican army under the command of General Santa Anna at the Battle of Buena Vista on February 23, 1847: Taylor once again prevailed. The Americans hoped that they had proved their point: Taylors invasion had gone well and California was already securely under control. They sent envoys to Mexico in the hopes of ending the war and gaining the land they desired: Mexico would have none of it. Polk and his advisors decided to send yet another army into Mexico and General Winfield Scott was selected to lead it. General Scotts Invasion The best route to get to Mexico City was to go through the Atlantic port of Veracruz. In March of 1847, Scott began landing his troops near Veracruz. After a short siege, the city surrendered. Scott marched inland, defeating Santa Anna at the Battle of Cerro Gordo on April 17-18 along the way. By August Scott was at the gates of Mexico City itself. He defeated the Mexicans at the Battles of Contreras and Churubusco on August 20, gaining a toehold into the city. The two sides agreed to a brief armistice, during which time Scott hoped the Mexicans would finally negotiate, but Mexico still refused to sign away its territories to the north. In September of 1847, Scott attacked once again, crushing the Mexican fortification at Molino del Rey before assaulting the Chapultepec Fortress, which was also the Mexican Military Academy. Chapultepec guarded the entrance to the city: once it fell the Americans were able to take and hold Mexico City. General Santa Anna, seeing that the city had fallen, retreated with what troops he had left to unsuccessfully try and cut the American supply lines near Puebla. The major combat phase of the war had ended. The Treaty of Guadalupe Hidalgo The Mexican politicians and diplomats were finally forced to negotiate in earnest. For the next few months, they met with American diplomat Nicholas Trist, who had been ordered by Polk to secure all of the Mexican northwest in any peace settlement. In February of 1848, the two sides agreed on the Treaty of Guadalupe Hidalgo. Mexico was forced to sign over all of California, Utah, and Nevada as well as parts of New Mexico, Arizona, Wyoming and Colorado in exchange for $15 million dollars and exoneration of about $3 million more in previous liability. The Rio Grande was established as the border of Texas. People living in these territories, including several tribes of Native Americans, reserved their properties and rights and were to be given US citizenship after a year. Lastly, future disagreements between the US and Mexico would be settled by mediation, not warfare. Legacy of the Mexican-American War Although it is often overlooked in comparison with the American Civil War, which broke out about 12 years later, the Mexican-American War was just as important to American History. The massive territories gained during the war make up a large percentage of present-day United States. As an added bonus, gold was discovered shortly thereafter in California which made the newly acquired lands even more valuable. The Mexican-American War was in many ways a precursor to the Civil War. Most of the important Civil War Generals fought in the Mexican-American War, including Robert E. Lee, Ulysses S. Grant, William Tecumseh Sherman, George Meade, George McClellan, Stonewall Jackson and many others. The tension between the slave states of the southern USA and the free states of the north was made worse by the addition of so much new territory: this hastened the onset of the Civil War. The Mexican-American War made the reputations of future US Presidents. Ulysses S. Grant, Zachary Taylor, and Franklin Pierce all fought in the war, and James Buchanan was Polks Secretary of State during the war. A Congressman named Abraham Lincoln made a name for himself in Washington by vocally opposing the war. Jefferson Davis, who would become President of the Confederate States of America, also distinguished himself during the war. If the war was a bonanza for the United States of America, it was a disaster for Mexico. If Texas is included, Mexico lost more than half of its national territory to the USA between 1836 and 1848. After the bloody war, Mexico was in ruins physically, economically, politically and socially. Many peasant groups took advantage of the chaos of war to lead uprisings all over the country: the worst was in Yucatan, where hundreds of thousands of people were killed. Although Americans have forgotten about the war, for the most part, many Mexicans are still irate about the theft of so much land and the humiliation of the Treaty of Guadalupe Hidalgo. Even though there is no realistic chance of Mexico ever reclaiming those lands, many Mexicans feel they still belong to them. Because of the war, there was much bad blood between the USA and Mexico for decades: relations did not begin to improve until World War Two, when Mexico decided to join the Allies and make common cause with the USA. Sources: Eisenhower, John S.D. So Far from God: the U.S. War with Mexico, 1846-1848. Norman: the University of Oklahoma Press, 1989 Henderson, Timothy J. A Glorious Defeat: Mexico and its War with the United States.New York: Hill and Wang, 2007. Wheelan, Joseph. Invading Mexico: Americas Continental Dream and the Mexican War, 1846-1848. New York: Carroll and Graf, 2007.

Ethical dilemmas facing multinational corporations in their marketing Essay

Ethical dilemmas facing multinational corporations in their marketing of goods and services abroad - Essay Example The best thing is that the benefits and disadvantages are determined even before the organization goes the global way and thus it saves itself from embarrassment which it might face without having proper knowledge and adequate research within it. The significant thing here is to get prepared and be ready for what is to come in the future as concerns to the organization that we are talking about here. (Beckman, 1967) The ethical concerns rose in the wake of marketing of goods and services abroad remains one of the most talked about concerns and this is highlighted within the length of this paper. The ways and means that are usually taken care of whilst managing the goods and services abroad are aplenty and it is only up to the top management within a company that the same can be handled in a several different methods. They are the ones to decide as to what is the real manner in which the firm’s goods and services would be handled as well as who will head the respective departments, lead the business strategic units and act as legal and media representatives of the said business. The business, as marketers say, exists to satisfy its target audience through fulfilling a need courtesy its products and/or services or a combination of the both, the same being true in case of a retail outlet which sells gasoline to local consumers, thus giving in petrol plus extra services in the form of window cleaning, fuel gauge checks and so on and so forth. (Kelley, 1973) A company or an organization needs sound management framework at its top so that the staff and the employees workin g at different levels feel at ease with the job as well as the working environment. This indeed is very important as it builds long-term credibility of the organization that it cares about its employees and not just the customers and in cases profits and revenues only. (Korzeniowski, 2001) International businesses with regards to

THE GLOBAL BRANDING OF STELLA ARTOIS Case Study Example | Topics and Well Written Essays - 500 words

THE GLOBAL BRANDING OF STELLA ARTOIS - Case Study Example This number is very low compared to other industries, such as tobacco, liquor, and soft drink industries. Therefore, it would be appropriate for Interbrew to take advantage of this opportunity by developing a global brand and expanding into markets that are unexplored by acquiring brewers in both growing and mature markets. Stella Artois is certainly the best flagship brand for the company. Firstly, it is clear from the case that the brand is doing exceptionally well in the global market. For instance, the global volume of Stella Artois rose by 97 percent between 1992 and 1999, which was remarkable considering the level of competition (Beamish and Goerzen 108). Stella Artois also serves as the best global flagship brand since it has established good reputation in the European market and beyond. According to the case, Stella Artois is seen as the â€Å"European premium lager,† which clearly demonstrates how well the beer has been received in the European market. Therefore, as much as Stella Artois has suffered in one way or the other, it still serves as the right flagship brand for the company. Interbrew’s move to focus its strategies on cities as markets instead of countries has a number of advantages. Firstly, the strategy is beneficial to the company in the sense that it allowed Interbrew the opportunity to offer the right training to its staff. Secondly, the strategy was advantageous since it ensured that Interbrew received wide media coverage. Thirdly, the strategy ensured that Interbrew gained more return on marketing and promotion investment. Additionally, the strategy appeared advantageous to the company since it enabled the company to gain more control over marketing and distribution (Beamish and Goerzen 114). Other advantages associated with the strategy include enhancing brand awareness in the cities. However, the strategy was also associated with a number of disadvantages, including limiting the brand

Søren Kierkegaard Essay Example for Free

Sà ¸ren Kierkegaard Essay 1. Some existentialist do believe in God and some do not. Being an existentialist does not necessarily involve denying the possibility of a higher power. Existentialism is a philosophical position that advocates 1) the individuals absolute freedom and full capacity to determine its place in the world; 2) the individual as indefinable, as outside of all systems and totalities. The individual is only defined on the basis of what they do, and with each action they change who they are. For Sartre, at least, we can only define what a person is when they have died. Existentialism is said to begin with Soren Kierkegaard, who is a Christian existentialist. For Kierkegaard, the human individual is outside of all systems, and is irreducibly singular. He is a Christian existentialist because he claims that a personal relationship with God is the highest accomplishment of human existence. As an existentialist, he opposes what he calls Christiandom, which is basically organized religion in which the individual loses itself in a group mentality. Religion is a personal event for Kierkegaard, not a communal one. Christian existentialism relies on Kierkegaards understanding of Christianity. Kierkegaard argued that the universe is fundamentally paradoxical, and that its greatest paradox is the transcendent union of God and humans in the person of Jesus Christ. He also posited having a personal relationship with God that supersedes all prescribed moralities, social structures and communal norms, since he asserted that following social conventions is essentially a personal aesthetic choice made by individuals. Kierkegaard proposed that each person must make independent choices, which then constitute his existence. Each person suffers from the anguish of indecision until he commits to a particular choice about the way to live. Kierkegaard also proposed three rubrics with which to understand the conditions that issue from distinct life choices: the aesthetic, the ethical, and the religious. 2. In this scenario, the essence of humanity, including both its end or purpose and the means to that end are all predetermined by God. Even though humans have free choice, they cannot change their God-given essence. A person might try to change his or her divine purpose of knowing and loving God by finding her true happiness in the purpose of such things like a talent or a habit. But if there heart is made in the image and likeness of God, there heart will be restless until it rests in God. Furthermore, if one accepts there true purpose as the knowledge and love of God but then tries to make up their own means or design for reaching that goal, that attempt will also likewise fail. The essence is God-created as to both the overall purpose of humanity and the general means to that goal, and human freedom cannot change human nature. Sartre uses this example of the paper-knife in order to explain the difference between existence preceding essence and essence preceding existence for everything else. Because the paper-knife has a pre-decided essence of opening letters or cutting apart the pages of a book, its useless when there are no books around. Man, on the other hand, can never be put in this position, since man has no pre-determined essence. So human beings can never be useless because they never had a previous defined use. 3. If God has created man and his nature, man cannot claim the primacy of his existence. Therefore, if existentialism makes human life possible in the aforementioned sense it cannot treat the question of God as a purely theological or academic issue. On the contrary, the way how we resolve the question whether God exists or not will determine the character of human self-understanding and the general condition of man in the world. Sartre says that the problem of Gods existence is not the issue for existentialism. What he means by this is not that existentialism is not interested in the question but that it has already resolved it given the need of man to regain himself as the creator of his own world. Or better to say, human reality proves that man is responsible for himself. In other words, nothing can save him from himself, not even a valid proof of Gods existence. On the other hand, if we believe that God has created man in his own image then, according to Sartre, we have to admit that human essence, as conceived by God, precedes existence. The reasoning will have the following pattern: If God exists, the essence precedes existence. God exists. Therefore essence precedes existence. 4. Sartre explains the priority of human existence in this way: Man first exists, turns up, appears on the scene, and only then defines himself. Sartre does not want to say that eating and sleeping is more important than anything else which is a kind of luxury in life. He admits the biological priority of basic functions but claims that what is built upon it is by far more decisive. As Sartre says later on, every man performs an absolute act in breathing, eating, sleeping or behaving in any way whatever, but this act does not constitute human essence who we are, only a configuration within which an already present existence shapes its own essence. To be sure, man exists like a configuration before he can be defined by any concept and hence his existence should be the basis for any posterior definition of his nature, not the other way round. But his nature is that he does not have a nature, at least initially when he appears in the midst of other beings. Therefore biological life does not equal human existence nor essence. The point here is that what man is (the traditional nature of man) is not determined by any pre-existing essence, not even the biological nature. Man himself decides whether he is going to be a grumpy and nasty person or a kind and caring infividual, a miserable creature or an energetic and optimistic human, a murderer or an artist, an obedient subject or a free spirit Sartre phrases the statement (a) existence precedes essence as synonymous with (b) subjectivity must be the starting point. This is obvious from the fact that he accompanies the former with an or: existence precedes essence, or, if you prefer, subjectivity must be the starting point. 5. Sartre phrases the statement (a) existence precedes essence as synonymous with (b) subjectivity must be the starting point. This is obvious from the fact that he accompanies the former with an or: existence precedes essence, or, if you prefer, subjectivity must be the starting point. There are several difficulties with this though. First, even if we follow Sartres expectation to accept his or between the two propositions as indicating a synonymous meaning it remains questionable . Subjectivity is obviously taken in the Hegelian sense, as the core of autonomy and self-reflection. Second, while the contention (b) is really faith blind, (a) is not. On the contrary, theists cannot accept it if it entails the non-existence of God. 6. Sartre calls this Subjectivity but explains his meaning to avoid misunderstanding. Subjectivity –We mean that man exists first and he is capable of realizing this. He uses his â€Å"will† to make conscious decisions and he is held responsible for his actions because his existence and free choice precedes his essence. Subjectivism can mean that an individual chooses and makes himself . In the second sense, it means that â€Å" it is impossible for man to transcend human subjectivity. † 7. The anguish results from the direct responsibility toward others who are affected by our actions. ANGUISH. It is in anguish that we become conscious of our freedom. My being provokes anguish to the extent that I distrust myself and my own reactions in that situation. We must make some choices knowing that the consequences will have profound effects on others like a commander sending his troops into battle. In choosing for ourselves we choose for all humankind. We experience anguish in the face of our subjectivity, because by choosing what we are to do, we ‘choose for everyone’. When you make a decision you are saying â€Å"this is how anyone ought to behave given these circumstances. †Many people don’t feel anguish, but this is because they are â€Å"fleeing from it. † If you don’t feel a sense of anxiety when you make decisions, it’s because you are forgetting about your â€Å"total and deep responsibility† toward yourself and all of humanity. 8. Our choices are a model for the way everyone should choose. If we deny this fact, we are in self-deception. If we say, Everyone will not act as I have done, then we are giving a universal value to the denial. There are no omens; there are no signs by which to decide. We are responsible for ourselveswe are the sole authority of our lives. We cannot give up this responsibility except through self-deception or bad faith. Because man is free and at the same time responsible. A man who involves himeslf cannot escape the feeling of immense, deep and total responsibility for his actions and for other men. Man is responsible not only for the person he chooses to be but also for other men. He stakes himself out by choosing both himself and all mankind. His actions are inevitably actions of a lawmaker. Man is constantly in anguish not because he makes daily trivial choices but, as Sartre stated in the discussion following the lecture, (a) because his original choice is constant but uncertain and (b) there is no justification for the choice made. 9. Quietism is the attitude of people who say, â€Å"Let others do what I can’t do. † The doctrine I am presenting is the very opposite of quietism, since it declares, â€Å"There is no reality except in action. † Moreover, it goes further, since it adds, â€Å"Man is nothing else than his plan; he exists only to the extent that he fulfills himself; he is therefore nothing else than the ensemble of his acts, nothing else than his life. One of the biggest objections was that it was a pessimistic philosophy that encouraged people to dwell in quietism of despair . In his essay, Existentialism is a Humanism, Sartre attempts to prove that existentialism is probably the most optimistic doctrine available to modern man by attempting to answer other objections brought against existentialism. However, I do not believe that Sartre is completely successful at presenting his doctrine as optimistic and giving valid responses to the many objections. 10. Sartre writes, Values in actuality are demands which lay claim to a foundation. (Ibid. p.46) But if the foundation of values were found in facts, then what would be valuable would be determined by facts and my will would not be in control of its own values; my will would not be master of itself. But if my will is the source of values, then this foundation is a foundation that can be changed at any time and it is possible for me to have no values whatsoever. It follows that my freedom is the unique foundation of value and that nothing, absolutely nothing justifies me in adopting this or that particular value, this or that particular scale of values. As a being by whom values exist, I am unjustifiable. My freedom is anguished at being the foundation of values while itself without foundation. You can’t judge sincere choices, but you can judge self deceit. For example when someone blames their actions on their passions or determinism, implying that they could not help what they did and so are not responsible. Or when someone says that certain values are ‘incumbent’ on us, i. e. the values, or duties, impose themselves on us so we have to follow them, we have no choice. If someone chooses to deceive himself you can’t judge this morally, but can judge it as an error. Furthermore you can judge it morally, because freedom can have no end but itself. To value anything is to choose it. So if we were not free to choose anything there could be no values. So freedom is the foundation of all values. So to value anything we are thereby valuing freedom itself. But we cannot value our own freedom without valuing others’ freedom. So if someone else denies that they are free, they are denying something that we value, and so we can judge them morally. Satre argued that existentialism was a kind of tough optimism. First to realise that there is no god taking care of our action or guiding us. Subjectivism leads to a forlornness and then the despair of being responsible for our own actions and probabilities gives way to freedom. The realization that what we achieve for ourselves is up to us. When we realise and accept this state of existence we are left with only possibilities. What we do with them can become a kind of despair but hope and change is always possible. The fact man is condemned to be free. It is from this existence that we create an essence for ourselves and not the other way round. It is a anti-fatalism and pro-determinism. By asserting that human action is futile, if not impossible, existentialism invites people to remain in a state of desperate quietism, resigned and passive. Existentialism itself ends up in a kind of contemplative bourgeois philosophy (just observing the world) lagging behind the demand of Marx 11th Thesis on Feuerbach which stipulates that philosophy should change the world not only look at it. The word bourgeois in the charge was linked to luxury in the sense of being redundant and unnecessary.