The Role of Lease Financing in Bangladesh

Introduction Lease financing is comparatively a new concept in the financial sector and has got recognition as aninnovative source of finance for accelerating the pace of industrialization as well as economic growth of  Bangladesh. Leasing companies have registered substantial growth in lease financing during the year 1985through 1994.Since 1995 to date, growth in lease market has significantly slowed down because of sluggisheconomic activities, withdrawal of incentives by the government, imposition of cash resource requirementwith Bangladesh Bank as per Finance Act 1998, expansion of number of leasing institutions, lack of  diversification of service and of awareness in business community about leasing etc. Researchers have alsofound that leasing companies need to develop their professionals and should come in the market with newmarketing strategy. BackgroundBangladesh is a least developed country in the world with per capita GDP Tk. 11. 284 (USD 230). She suffersfrom poverty, i mperfection in both, factor and product market, continuous in equilibrium in the economy,defective administrative structure in both financial and non-financial sector, inappropriate tax structure,heavy dependence on assistance from World Bank including other International Lending Agencies andDonor Countries, lack of capital stock, massive unemployment, political turmoil and unhealthy environmentfor investment.With the emergence of Bangladesh as an independent country in 1971, the thenGovernment nationalized all commercial Banks with the hope of accelerating industrial growth throughfinancial, fiscal and other supports. Since the inception of independent Bangladesh, Commercial Banks,Development Financial Institutions and Investment Corporation of Bangladesh have been the major sourcesof industrial finance in the country. These Banks were predominately serving the public sector by extendingsupport in the form of long term loan, working capital finance, bridge finance etc. and had limi ted experiencein trade, commerce and industry.Due to dearth of experience in investment decision, project financing,recovery of loan and recycle of loan, both entrepreneurs and Banking Financial Institutions coupled withdifficulties at every stage of development and accomplishment which ultimately led to the emergence of  many sick industries. The Development Financial Institutions (DFI s) that depend largely on external assistance suffer fromfinancial constrains because of ineffective project appraisal. Imprudent investment decisions, poor recoveryand inability to recycle of loan which resulted in withdrawal of fund by international donors.As a result of  poor performance and withdrawal of external support, the liquidity position of DFI s have declined and abilityof sanctioning fresh loan and of refinancing sick industries reduced. Nationalized commercial Banks areusually reluctant to finance capital expenditure due to higher financial risk and poor recovery and designedto prom ote the nonproductive sectors. Besides, their loan operation was substantially diminished due toadditional cash reserve requirement imposed by Bangladesh Bank in order to curb inflation. Consequently,genuine industrial clients are affected by their limited access to the long-term local currency loan.Thiscontention is evident from the fact that the private sector remains in massive default to the DFI s and NCB s,90% of borrowers to DFI s are in defaulting and recovery rates are as low as 10% of the total recoverableamount. On the other hand, Dhaka Stock Exchange (DSE), the only stock market of Bangladesh is not wellorganized and therefore failed to mobilize sufficient fund to meet the demand of the capital market of thecountry. During 1972-84, public sector financial institutions were found totally failure in developing industrialsector and promoting first generation of industrial entrepreneurs

How Do I See Myself 10 Years from Now?

The way I see myself ten years ahead of now is not something I often think about. To tell you the truth, it scares me a little to know that in one short decade I will be twenty six years old, and that my years of youth are coming to an end. One thing I’m certain of, is that if God gives me the opportunity to get to that age, I will make the most of my years and put all of my effort to become a successful, happy woman. Contemplating on the future doesn’t always come easy since no one really knows if it will ever go the way we think it would.As for me, I envision myself as a happy and most probably, simple individual who has finished most of the plans he has made and set as his life was slowly expended on each day that passed by. These plans would not only involve the actual completion of a series of courses I would really love to graduate from, namely, my current course, Medical Technology. And of course to become also a Registered one. At that age, I am already a full p ledge RMT. Working on a very nice hospital which pays relatively huge sums of money for some meager job I have to accomplish.I will also save my money. I will also travel to Paris with my family. I will let my parents feel and enjoy life through buying them plane tickets and go around the world. I will also help my relatives who ask helps from me. I will work hard so that I can buy anything I want. And experience the things I wanted to do when I was still a child. I will also help and support my younger brother in his studies. I wanted also to continue what I've started. What I'm trying to say is I will go and study at Medicine School. Because my parent want me to become a Doctor.I really wanted also to become one because, as what I mention earlier I want to earned huge sums of money. I want also to help people who doesn't afford to go to hospital. I want also to make my parents proud. At the age of 28 or 29, this is already the right time to experience going out with someone else. I mean it's boyfriend time. Hahaha! It's time to experience how to be love and how to love by special someone. So, I will do all my best to pursue all my dreams. I will follow and listen to my parents. I will also ask the help and guidance of the Lord.

Rubric Research Paper Example | Topics and Well Written Essays - 500 words

Rubric - Research Paper Example These consist of authentically designed criteria to gauge a learner’s work. Most often, these are given before the task so the students can base their performance on the given standards. It can also be used in any subject as well as in most kinds of learning activities. Though rubrics have various styles, there are some common features. They have objectives, scale, and dimension (Stevens & Levi, 2005). A rubric states the task that needs to be done. Basically, it describes the desired performance or behaviour. Moreover, it utilizes a range in evaluating students’ outputs. This may be in a form of grades, ranks of success, or points of achievement. Lastly, the dimensions of the task are pointed out such as the necessary skills and knowledge involved. â€Å"You’ll find that rubrics can inform and improve your teaching. The criteria you use to determine a high level or excellent performance provide directions for your teaching and goals for your students. Rubrics can be time savers. With some practice, you should be able to make some assessment in just a few minutes after reading or examining a student’s work product† (Fiderer, 1999, p.6). Rubrics have a number of benefits. With this tool, students can have a better understanding of what is expected of them. Thus, they can enhance their performance by having a clearer framework. In the same light, the teacher can enrich his assessment skills by being more objective. The rubrics can aid in evaluating with more consistency. A rubric is also an excellent source of feedback regarding the teacher’s instruction. In addition, it can decrease the amount of time spent on checking papers and appraising output since the criteria make decision making faster. In designing a rubric, there are four key stages. These are reflecting, listing, grouping and labelling, and application (Fiderer, 1999). Firstly, the teacher has to think about the learning goals that the students have to achieve. He

The Thought Experiment in the Foundations of Artificial Intelligence Research Paper

The Thought Experiment in the Foundations of Artificial Intelligence - Research Paper Example However, this is limited to a text only channel such as a keyboard and display screen to display the results. The test involves an interrogator, a machine and a person. The interrogator should be in a room separated from both the machine and the other person. All participants are in fact completely separated from each other, whereby both the machine and the person are designated labels X and Y. This means that he does not know which one is the machine and which one is the person at the beginning of the game. The interrogator’s objective is to distinguish between the two using a series of questions on the machine and the other person as well. The questions could be of the form â€Å"Will X please tell me whether X plays chess?† (Oppy Graham, Dowe David, 2011, The Turing Test, para. 7). Both must answer the question. The machine’s objective is to try and convince the interrogator that it’s indeed the other person, while the person tries to help him identify correctly which one is the machine. If the interrogator fails to reliably tell the machine from the human, then the machine is said to have passed the test. The test does not check the ability to give the correct answer; however it checks how closely the answer resembles that of a typical human answer. ... The technology available now is far from achieving a credible human-like conversation for five minutes as Turing believed it would. The dynamics of human conversation are far too complex as factors like arrangement of words come into play. This can be well observed in the Loebner Prize Competition; an annual event in which computer programs are submitted to the Turing Test. Such competitions have catalysed the growth of AI technology substantially over the years, whereby programs like ELIZA came up. In 1997, one exceptional program called CONVERSE, developed by David Levi and his team, including a well-known researcher in computational linguistics, Yorick Wilks, won the Loebner Prize competition (William J. Rapaport, 2005, The Turing Test). Turing’s experiments focuses mainly on an AI machine’s ability to understand natural language. However this test has undergone some objections over time whereby some people suggest that it is chauvinistic i.e. it only recognizes inte lligence in things that have the capacity to sustain a conversation with humans. Others thought that the Turing Test is not sufficiently demanding. Turing (1950) however considered possible objections to his claim that machines can â€Å"think†. He went ahead and labelled them such as; The Theological objection, the â€Å"Heads in the sand† objection, The Argument from Consciousness, Arguments from Various Disabilities, Lady Lovelace's Objection, Argument from Continuity of the Nervous System, The Argument from Informality of Behaviour and finally, The Argument from Extra-Sensory Perception (Oppy & Dowe, 2011, Turing (1950) and Responses to Objections, para.1). A rather simplified

Truth Essay Example | Topics and Well Written Essays - 500 words

Truth - Essay Example One might wonder what the truth was for Alexander the great when he set out to conquer the world For Socrates when he allowed himself to be taken For Galileo when he faced persecution at the hands of the Church For the Allied Forces during World War 2 For the Nazis at Nuremberg and for the terrorists who flew their planes into the twin towers If there existed no variation in the meaning and perception of truth, the world today would have been a different place-maybe for the better. The idea of truth therefore remains a moot point, for socialists and monarchs for lord and serf and for warrior and philosopher. The pragmatic would dismiss any poetic values attached to or stemming from the idea of truth; they would kill in an instant the spirit of freedom that truth may reverberate and would push away hope with the mere utterance of their dismal but intelligent sounding ideas. Alas, the supercilious don't pause to read the emotions attached to what may be described as truth or the struggle for it. Such a definition of truth seems to have been advanced by Michel Foucault in his essay2, where he most aptly describes a recipe that may be used to concoct truth; a connection is exposed here between truth and power deeming truth to be an earthly entity with nothing more than a dramatized and accepted creation.

Gender&Global cinema Essay Example | Topics and Well Written Essays - 2000 words

Gender&Global cinema - Essay Example Identifying the concepts of marginalization and gender definitions in global film shows how the boundaries of gender are defined in various regions of society. Two films which portray this theme are A Question of Silence by Marleen Gorris and The Housemaid by Im Sang – Soo. The discourse of feminist theory in A Question of Silence is one which shows several areas of boundaries and marginalization, as well as a question of gender identity. The portrayal of the three women are first depicted, all which take on a traditional identity in terms of gender. However, this is broken when they move from shoplifting different items to beating the male shopkeeper to death. This specific action sets the gender identity into motion, specifically because the action is one which is not expected in relation to the female gender identity. The shock which this leaves is one which creates a suspicion that the women are insane and that the actions which were warranted were because of mental instability. After finding that this is not true, there becomes a question of what the intent was of beating the male shopkeeper, specifically because of the associated anger that was taken with the actions (Gorris, 1). The feminist discourse which is associated with this film is based on the silence of the women as well as the stereotypes and immediate associations with gender identity which is portrayed. The silent association with the fight is one which is displayed through the actions which the women take as well as the shift in actions. The narrative is one which depicts silence after the action which is taken; however, the women are all known to fight the male domination in society through the action of beating the male shopkeeper to death. The metaphor of violence, as well as the following assumptions, all show the concept of feminist identity and the marginalization which the women are placed into. The violence becomes a way to speak about the male domination in society as

The Innate Immune Response Essay Example | Topics and Well Written Essays - 750 words

The Innate Immune Response - Essay Example The defense mechanism is categorized in three types; i. External barriers, comprising of skin, nostril hairs etc. which tries to prevent the pathogens from entering the body. In fact the external barriers include physical, mechanical and chemical barriers. For example, skin and nostril hairs are termed as physical barriers; tears and extraction from genitourinary tract are the form of mechanical barriers. Similarly secretion of skin, eyes, oral cavities and respiratory tracts in the form of sweat, tears, saliva, and mucus containing anti-microbial peptides are the form of chemical barriers. As the term 'innate' suggests, the innate immune system is the inherent immune system we are born with. In fact some antigens are also present in our body, but the defense mechanism learns to live with it and together with these types of proteins, the immune system gains strength over time. The innate immune system is entrusted with; The type of innate immunity system, available in the form of protein chemical is known as 'innate humoral immunity'. Body's complement system, interferon and interleukin are some of the examples of such a system. The complement proteins together with interferon and antibodies form the all important white blood cells in the body. The complement system is a defense mechanism involving a group of more than 30 interacting soluble plasma proteins. These cell proteins provide the early warnings by way of triggering inflammation and synthesis of enzymes, so that reproduction and multiplication of viruses can be blocked. Allergies and inflammation are the forms of innate immune response. Redness, swelling, heat and pain are some of the initial responses of the immune system against the infection. The innate immunity system tries to highlight the ferocity of the pathogens by such actions. The inflammation occurs when tissues are injured by bacteria, trauma, heat or toxins. The damaged tissues release some chemicals like histamine, serotonin or bradykinin. These chemical substances in turn cause the blood vessels to leak fluid into the tissues, which causes swelling. This helps in taking appropriate response e.g. medication and precaution. The innate immune response is generated by the white blood cells, natural killer cells (NK cells) and T

Wealth Management Seminar II Essay Example | Topics and Well Written Essays - 500 words

Wealth Management Seminar II - Essay Example oses and amongst these purposes includes establishing testamentary trusts, making specific bequests, appointing an executor, and distribution of personal effects (Mentz, 2009). This was a new lesson to me, and this mainly because I had a narrow idea on the purpose of the will. In my opinion, the will was only created for purposes of distributing the wealth of an individual. However, my perception changed after this lesson. Insurance is also an important tool of estate planning, and this is because it plays two important functions, these are, the provision of liquid funds that can be used for burial purposes, and the benefits of insurance policies are not always taxable (Mentz, 2009). This was a new knowledge to me, because in my own opinion, I was only aware of two tools of estate planning that is the will, and establishment of trusts. However, this lesson introduced new tools, such as the power of attorney, gifting and insurance policies. Another area that was of importance to me, was on the techniques that can be used for purposes of estate planning. These techniques include designate beneficiaries, income and capital shifting, and tax deferral (Mentz, 2009). Under this lesson, of particular interest to me was income and capital shifting. I learnt that splitting of income is a popular technique of estate planning because it has the capability of lowering income tax, maximizing credits or deductions, and it is easier for an individual to proof the various sources of money that can be used for purposes of calculating the income tax of an individual (Mentz, 2009). This was new knowledge to me, and I was happy to learn it. Risk management is also an important concept in the planning process. One of the elements of risk management, and that is applicable to estate planning is insurance. One of the major costs of an insurance policy is the premiums that an individual would pay, for purposes of accessing the services of an insurer (Mentz, 2009). This lesson confirmed

Encounters with crocodiles Essay Example for Free

Encounters with crocodiles Essay I found the crocodiles so intresting that i soon got over my loathing for them and yet with possible exception of as they run the hyenas they must be the meanest creatures in the AFRICAN scene.They will never openly attack,and they will not defend their own eggs ; directly you attempt to land ,into the water they go.It was unwise however to stand to close to the river bank especially at dusk the crocodile lunge out at you with his paws ;instead,having observed you carefully from midstream ,hen swim submeged into the shallows ,and with a sudden like moment of his tail he sweeps you into the water. One of the African boys in the park had been taken like this a few days before we arrived ,and it was no rare thing ,we were told ,for baby elephants to meet their end in just this way when they came down to the river to drink. then the mother elephants goes ranging along the bank quite powerless to retaliate.The crocodiles itself shas mortal enemies ,and not many of the sixty or seventy eggs which female lays,like turtle ,in a hole in a sand bank are destined to survive .Having laid her eggs (they are rather like large white goose -eggs),the mother covers up the hole and then sometimes departs. This is the moment for the moniter lizard to creep out of the undergrowth to scrape the sand away and then to gorge himself .Even if the nest remains undiscovered the young crcodiles need a gold deal of luck to survive. They come struggling to the surface of the sand little ten_inch_long rubbery thing ,and make directly for the water , hissing and snapping as they run .On the bank the marabaou stork with the speed of sword_play flicks them into his long bill ; and if you care to watch you can see the wriggling passage of the young crocodile down the bird scraggy throat.Sometimes the mother crocodile will try to defend her young at this perilous moment ,and this is a facinating thing to see.The marabou, with elaborate unconcern stand in about six inches of water waiting for the next tit bit to come swimming by,and from about twenty yards away the mother crocodile watches :just two murderous eyes above the surface of the stream .Then silently she submerges and come up again about ten y ards from marabou .The bird takes no notice .And now ,having again goes down .This time she is coming in for the kill .it is a matter of about two seconds the marabou abstractely and casually takes a backward step . At the same instant the tremendous jaws of the crocodiles come rearing out of the river and snap together in the empty air at the prcise spot where he was standing .green water streaming off her back ,the crocodiles subsides into river again;and the bird steps back to res ume its meal QUESTIONS/ANSWERS: Q1:what enabled the writer to get over his loathing for the crcodiles? Q2:what do crcodiles do when a person attempts to land on the river bank ? Q3:what method does the crocodiles use to capture ots prey?

Most Influential Socialist Thinkers Of Time

Most Influential Socialist Thinkers Of Time The philosopher, social scientist, historian and revolutionary, Karl Marx, is without a doubt the most influential socialist thinker to emerge in the 19th century. Although he was largely ignored by scholars in his own lifetime, his social, economic and political ideas gained rapid acceptance in the socialist movement after his death in 1883. Until quite recently almost half the population of the world lived under regimes that claim to be Marxist. This very success, however, has meant that the original ideas of Marx have often been modified and his meanings adapted to a great variety of political circumstances. In addition, the fact that Marx delayed publication of many of his writings meant that is been only recently that scholars had the opportunity to appreciate Marxs intellectual stature. It is difficult to know what effect this would have on his later philosophy, but we do know that Marx would be antithetical to religious belief, at one time pronouncing it, the opiate of the masses After schooling in Trier (1830-35), Marx entered Bonn University to study law. At university he spent much of his time socialising and running up large debts. His father was horrified when he discovered that Karl had been wounded in a duel. Heinrich Marx agreed to pay off his sons debts but insisted that he moved to the more sedate Berlin University. Educated in the best universities in Germany at Bonn, Berlin and Jena, he was greatly influenced by the most prominent scholar of the previous generation, Georg Wilhelm Friedrich Hegel. As youth turned to middle age, Karl Marxs views became more radical and finally hardened into the body of thought we know today. His journey to this point took him out of Germany where the newspaper he edited, the Rheinische Zeitung, was suppressed by the Government. He moved to Paris in 1843 and later to Brussels in 1845. Marx himself considered his theory of surplus-value his most important contribution to the progress of economic analysis (Marx, letter to Engels of 24 August 1867). It is through this theory that the wide scope of his sociological and historical thought enables him simultaneously to place the capitalist mode of production in his historical context, and to find the root of its inner economic contradictions and its laws of motion in the specific relations of production on which it is based Marx was partial to Hegel and his theories and was influenced by Hegels views that history was a dialectical process. He did not adhere to Hegels spirituality . He was also influenced by Fuerbach, Saint-Simon, Proudhon and Bakunin. While living in Paris, he began to associate with the working clasas for the first time. He began to formulate his thought that revolution was the key to achieving balance between the upper class and the working class. He wrote and spoke on social change through revolution. He believed that there was great energy between proleterians and capitalists. Marx began to appeal to more of the common people during the early depression days. American educatin became aware of soviet education reforms during the 1920s and through George S. Counts who visited Russia and brought their educational system of reform to light in America. But only a mere 10 years later, American educators did not think societ education was good. The theory associated with Marxism was developed in mid-19th century Europe by Karl Marx and Friedrich Engels. Although Marx and Engels did not write widely about education, they developed theoretical perspectives on modern societies that have been used to highlight the social functions of education and their concepts and methods have served to both theorize and criticize education in the reproduction of capitalist societies, and to support projects of alternative education. In this study, I will first briefly sketch the classical perspectives of Marx and Engels, highlighting the place of education in their work. Then, I lay out the way that Marxian perspectives on education were developed in the Frankfurt School critical theory, British cultural studies, and other neo- Marxian and post-Marxian approaches grouped under the label of critical pedagogy, that emerged from the work of Paulo Freire and is now global in scope. I argue that Marxism provides influential and robust perspectives on education, still of use, but that classical Marxism has certain omissions and limitations that contemporary theories of society and education need to overcome. The young Marx and Engels thus perceived that without education the working class was condemned to lives of drudgery and death, but that with education they had a chance to create a better life. In their famous 1848 Communist Manifesto, Marx and Engels argued that growing economic crises would throw ever more segments of the middle classes, and the older peasant and artisan classes, into the impoverished situation of the proletariat and would thus produce a unified working class, at least one with interests in common. They declared that the bourgeois class is constantly battling against the older feudal powers, among its own segments, and against the foreign bourgeoisie, and thus enlists the proletariat as its ally. Consequently, the proletariat gains education and experience which it can use to fight the ruling class. The Marxist approach to education is broad constuctivist and emphasises activity, collaboration and critique, rather than passive absorption of knowledge, emulation of elders and conformism; it is student-centred rather than teacher centred, but recognises that education cannot transcend the problems and capabilities of the society in which it is located. The Soviet, Chinese, and other Communist states were at most only partly structured along Marxist classless lines, and while such Communist leaders as Vladimir Ilyich Lenin, Joseph Stalin, and Mao Zedong staunchly claimed Marxist orthodoxy for their pronouncements, they in fact greatly stretched the doctrine in attempting to mold it to their own uses. The evolution of varied forms of welfare capitalism, the improved condition of workers in industrial societies, and the recent demise of the Communist bloc in Eastern Europe and Central Asia have tended to discredit Marxs dire and deterministic economic predictions. The Soviet and Chinese Communist regimes did not result in the disappearance of the state, but in the erection of huge, monolithic, and largely inefficient state structures. In recent years, many Western intellectuals have championed Marxism and repudiated Communism, objecting to the manner in which the two terms are often used interchangeably. A number have turned to Marxs other writings and explored the present-day value of such Marxist concepts as alienation. Among prominent Western Marxists were the Hungarian philosopher Gyà ¶rgy Lukaisand the Italian political philosopher Antonio Gramsci, both of whom viewed Marxism as a liberation from the rule of political economy and believed in its relationship to the social consciousness. Marxisms influence can be found in disciplines as diverse as economics, history, art, literary criticism, and sociology. German sociologist Max Weber, Frankfurt school theorists such as Theodor Adorno and Max Horkheimer, British economist Joan Robinson, German dramatist Bertolt Brecht, British literary critic Frederic Jameson, and the French historians of the Annales school have all produced work drawn from Marxist perspectiv es.

Easyjet Marketing Strategy Analysis

Easyjet Marketing Strategy Analysis Jump to: Easyjet PEST Analysis | Easyjet SWOT Analysis | Easyjet Marketing Mix | Implementing and Managing Easyjets Policies | CSR at Easyjet This technical report has been ordered to clarify the e-marketing strategies implemented by the EasyJet airline to gain competitive advantages over its rivals in the marketing for low cost aviation. Situation analysis present position and industry of EasyJet by use SWOT and PEST model. This report looked at the various strategies used by EasyJet and researched in depth the European budget airline industry. The main objective is to study EasyJets successful e-marketing campaigns. Since 1995, EasyJet Airline Company Limited is a great and successful example of a European airline. The chairman Stelios Haji-loannou (Greek) founded the company this year. It is based on the US carrier SouthWest, and is low cost, no-frills model. Stelios hired an expensive brand consultancy and offered them  £100,000 to come up with one. A month later, the consultants turned up at EasyLand with magazine clippings attached to pieces of cardboard. Unimpressed by their efforts, Stelios promptly fired them. In the end, he came up with the airlines name himself. The word easy kept on coming into his head, so he decided to christen the airline EasyJet. For the company logo he went to a small local design consultancy, White Knight, which gave the airline its famous shade of orange, know as Pantone 021C, used by no other airline at the time or since. The design consultancy then created a simple set of graphics for the airlines first advertising campaign. In 1995, EasyJet starts flights from Luton to Glasgow and Edinburgh with to leased Boeing 737-300 with a capacity of 148 seats at a price of only  £29 for one way ticket. Glasgow and Edinburgh are the first routes. The logic was simple: southern Scotland was the biggest domestic market from London for which air was a sensible alternative to road or rail. The airline opened a telephone reservations centre and took its first booking on 23 October 1995. The phone at the EasyJet telephone reservation centre started ringing and never stopped. They were in business. Two years later, EasyJet launches its website, easyjet.com. Web bookings grew from zero to 26 per cent of business within a year. On the first day of trading during one promotion, 13,000 seats were sold, believed to be a record for the most commercial transactions carried out on the internet in 24 hour period. By mid-1999, when its internet sales represented 58 per cent of the total, EasyJet because the first airline to make more sales on the internet than through normal telephone reservations. In March 2000, EasyJet reached two million seats, and it took only another three months to reach the three million mark. By 2001, online bookings regularly reached 80 per cent, the highest proportion of online sales for any airline in the world. In financial view, EasyJet plc was listed on the London Stock Exchange (LSE: EZJ) and was a constituent of the FTSE 250 Index on 5th November 2000. In October 2004, the international investment company FL Group was purchased an 8.4 per cent stake in EasyJet. In 2005, FL Group increased its share in the company to 16.9 per cent. Lois (2005) mentioned that, according to the investment house, EasyJet was becoming a paperless company with a powerful electronic infrastructure. The results were lower administration costs, better management information and more responsive decision making. Situation Analysis In this chapter, I will present position and analysis the current position using both of used SWOT and PEST model. PEST Analysis of Easyjet The following factors are likely to have an influence on the EasyJet. (P)olitical factors In 1990 the European deregulation of commercial aviation coincided with the expansion of the low cost airline industry. The LCC in the industry were able to take advantage of the relaxed laws and expand their operations. On the other hand, threat of war in the East Euro and EU east enlargement may provide access to viable the new markets were also the political factors of EasyJet. (E)conomical factors Mercer Management Consulting (2002) reported that the low cost airline market conforms to the criteria of three components. Firstly, it provides a simple product consisting of no seat reservation, free seating, and adequate in flight service. They are a genuine no frills airline with a simple product offered to the market. Webster (2004) noted EasyJets ability to maintain a high degree of customer focus through a new, user friendly website with an improved booking process. Secondly, mergers and acquisitions is also the low cost airline markets characteristic; the expansion of existing low cost airlines and finally, market exits as a result of bankruptcy. Finally, the industry operates a low cost ethos, which is maintained by lean sales, high productivity of resources, low maintenance costs and low wages. (S)ocial factors The low cost carriers position their product to leisure travellers and non business travellers. However EasyJet has differentiated itself by targeting the business and leisure segments. This behavioural segmentation creates a more dynamic edge in comparison to their competitors who solely focus on leisure travel. Thus, EasyJet must ensure that its strategy is tailored to a wider market. Walton (2005) confirmed that EasyJet was presented as a European low cost airline with a current reading of 26 million passengers in 14 key countries. It has 190 routes to 58 airports and 163 million people live within one hour of EasyJets airports. (T)echnological actors Low cost carriers have the ability to maintain a high degree of customer focus through user-friendly websites with improved booking processes. These websites have the capability of charging bookings with greater ease and utilising an easy to use fare finder to obtain the cheapest fares. Selling tickets via the technological medium of websites and hence by having no travel agents, they avoid paying agency commissions. SWOT Analysis of Easyjet (S)trengths EasyJet was used the bright orange as Pantone 021C, used by no other airline at the time or since. It have a successful financially which they cut out all meals and snacks on travel tour, can reduced the cost of operation. Have more flexible organisation and being seen as an innovative. The airline opened a telephone reservation centre is a strong e-business on 1995. EasyJet is also was a part of the consortium and have awarded by UK air traffic control system National Air Traffic Services (NATS). Single model of aircraft reduced training, maintenance and supervisory costs. At last, EasyJet has been wisely investing in strong brand build measured like advertising and television shows ensured high brand recall. (W)eaknesses Below have some weaknesses for EasyJet organisation. It continued sustenance of cost leadership can be difficult in a dynamic market. The two drivers of growth, the focus on price and the focus on convenience seem to be reached their natural limits and differentiation from there could become difficult. The airline does not own the EasyJet brand, its owned by Sir Stelios and as a result, does not have control on its performance of other products and services used the same name. It also loss of usage in future could adversely affect its own market performance. (O)pportunities Recent expansion of the EU has resulted in open of new markets for the LCCs. Their low fares will increase movement of job seekers across boarders and also promote the tourism industry, lead to economic growth. Consolidation could help EasyJet to a certain degree offset the pressure on its costs and fares. Otherwise, vertical and horizontal expansion could be an important option for EasyJet for growth in mature markets and offset any future threat of increased in service provider costs. Withdrawal of traditional airlines from less traffic-intense routes could be an opportunity for expanded. EasyJet does not seem to have any flights to Scandinavian capitals like Stockholm and Helsiki where immigrant flow was on the rise. (T)hreats The threats of EasyJet had some factors. Terrorism and catastrophic loss can result in lesser air travel and loss of infrastructural support, war threats and outbreak of epidemics or pandemics could increase apprehensions about air travel. Technology advancement in the conduct of business meetings like video conferencing can be detrimental to short distance flights and impending increased in environmental taxes could increase costs. In addition, limited or no slot availability could be hurdle in future expansion plans and due to its limited fuel hedging policy, EasyJet is more vulnerable to fuel price fluctuations increased by variability in its costs. Currency fluctuations is also the factor of threats, it will affect especially the US dollar denominated costs like aircraft purchase, aircraft financing costs, maintenance reserve payments, fuel purchase etc.. Excess capacity and cost cutting tactics by competitors can affect passenger traffic on popular routes. Imitation of some main no-frills features by traditional airlines on same routes can confuse and blur the distinctive image of any LCC. Additional, traditional players can partly switch over or start their own baby low cost airline. Last, dependence on third party service providers could cause problems when any of these contracts are not renewed or negotiation of suitable replacement does not take place or if higher rates are charged. eMarketing Strategy Analysis This chapter was analysis what eMarketing strategy has the EasyJet adopted or is planned to adopt and what is the value proposition and differential advantage of this strategy. Marketing application of internet marketing Internet based media offer a range of opportunities for marketing products and services across the purchase cycle. EasyJet illustrate the applications of internet marketing since they show how organisations can use online communications such as their web site, third-party web sites and e-mail marketing as: Direct response medium: EasyJet uses sponsored links when a user is researching a flight using a search engine to prompt them to directly visit the EasyJet site by clicking through to it. Similarly the EasyJet e-mail newsletter sent to customers can encourage them to click through to a web site to generate sales. Platform for sales transactions: EasyJet sells flights online to both consumers and business travellers. Customer service mechanism: Customers serve themselves on easyJet.com by reviewing frequently asked questions. A relationship-building medium where a company can interact with its customers to better understand their needs and offer them relevant products and offers. EasyJet uses its e-mail newsletter and tailored alerts about special deals to help keep its customers and engage them in a dialogue to understand their needs through completing surveys and polls. Consumer matrix Bowman and Faulkner (1997) were also mentioned that the consumer matrix details that customers have with regard to the service or product offered to them and the prices charged. When used this theory to apply in EasyJet, can guestimate the general perception generated by the market. EasyJets flights was offer the value to consumer as gained the benefits from the online or telephone transaction relative to price appear favourable in comparison to another competitors. In the view of heterogeneousness, according to the demands for the service, indicated that, one service meets all demands might be let it to the wrong competitive strategy. More consumers were demand the low cost alternative and price sensitive with the airline segment. EasyJet was in order to attain sustainable competitive advantage by the customer matrix price strategy. Marketplace channel structures Channel structures describe the way a manufacturer or selling organization delivers products and services to its customer. The distribution channel will consist of one or more intermediaries such as wholesalers and retailers. The relationship between a company and its channel partners shown in below figure can be dramatically altered by the opportunities afforded by the internet. This occurs because the internet offers a means of bypassed some of the channel partners. This process is known as disintermediation or cutting out the middleman. Benjamin and Weigand (1995) calculated that, using the sale of quality shirts as an example, it was possible to make cost saving of 28 per cent in the case of (b) and 62 per cent for case for (c). Some of these cost savings can be passed on to the customer in the form of cost reductions. 6 Is of eMarketing In this section, I used the McDonald and Wilson (1999) as the 6 Is of eMarketing to summarised the differences between the new media and traditional media. The 6 Is are useful since they highlight factors that apply to practical aspects of internet marketing such as personalization, direct response and marketing search, but also strategic issues of industry restructuring and integrated channel communications. The 6 Is are Interactivity, Intelligence, Individualization, Integration, Industry restructuring and Independence of location. But in this case, I only focus one of the factors Integration, for used by this theory. The Internet provides further scope for integrated marketing communications. Below figure show how it is just one of many different media channels. When assessed the success of a web site, the role of the internet in communicating with customers and other partners can best be considered from two perspectives. The EasyJet web site can be used as a direct response tool enabled customers to respond to offers and promotions publicized in other media. The web site can also have a direct response or call back facility built into it. The internet can be used to support the buying decision even if the purchase does not occur via the web site. Customer information delivered on the web site must be integrated with other databases of customer and order information such as those accessed via staff in the call centre to provide what Seybold (1999) calls a 360 degree view of the customer. The internet can be used to support customer service. In EasyJet, who received over half their orders electronically, encourage users to check a list of frequently asked questions compiled from previous customer enquiries before contacting customer support via phone. Marketing Mix The marketing mix the 4 Ps of Product, Price and Promotion originally proposed by McCarthy (1960) is used as an essential part of implemented marketing strategy by many practitioners. Price Baker et al. (2001) have mentioned that the price element of the marketing mix refers to an organizations pricing policies which are used to define pricing models and, of course, to set prices for products and service. In EasyJet case, low price is a key element of the brand. Used differential pricing, booking in advance makes a ticket less expensive and off-peak travelling. Additional, can get the discounts for tickets though online booking. Product There are many alternatives for buying the product when EasyJat was developing its online strategy back then. The EasyJet website also has car rental, hotel booking services and links to other EasyGroup website. It also provided point to point services. Place Allen and Fjermestand (2001) were discovered that that the internet has the greatest implications for place in the marketing mix since the internet has a global reach. Internet booking system and open a telephone reservation system were the new channel structures for book the tickets. Promotion Specification of the promotion was usually part of a communications strategy. EasyJet highlights its a number one position among Europes low cost carriers. Prints are in bright orange telephone booking number and website link on the side of its aircraft. Competitive Strategy Michael (1980) has described three general types of strategies that are usually used by organisation. There are cost leadership, differentiation strategy and market segmentation strategy. But in EasyJets case, only two basic of competitive advantage was used: cost leadership and differentiation. Differentiation strategy EasyJet had made prominence attempts to make their product pop out from its low cost airline competitors. McDaniel (2000) mentioned that a product differentiation feature acts as competitive advantage was no longer alive. Also, EasyJet was generally the trend-setter for differentiation its market. Shiv and Alfred (2001) was discovered a matrix for classifies and identifies types of competitive positioning. EasyJet provided differentiation service of many routes to major airports such as Gatwick airport which shifts the focus to high produce traffic while abnegate economic and operative advantages of secondary airports. For the merchandise differentiation, EasyJet provide more variables such as have self check in kiosks, unrestricted baggage restraints, easy of use for the website and booking of tickets, these features of differentiation can helps the customers to enhance their purchase power with EasyJet. Implementation of Strategy How is the management creating new core and extended value for customer? EasyJet have the three main components to create new core and extended value for customer, the first was provide the number one safety airline, the second was build up a number one air transport network, and the last was enhance easyjet.com. Provide the number one safety airline: In 2009, EasyJet saw the introduction of a new Safety Management System (SMS), its provided a framework for safety compliance and manage the two pillars of safety performance at EasyJet. With active support by the European Aviation Safety Agencys European Commercial Aviation Safety team, the Safety Management System was a continuous improvement process. Build Europes number one air transport network: Slot management: EasyJet thinks departure time was very important to all customers, both of business trips and weekend breaks. Different from other competitors, who used smaller, much less convenient airports, and more remote, over 90 per cent of EasyJet aircraft operate into and out of congested airports. At these busy business and facilities, where slots were at a premium, EasyJet work hard to build up their portfolio across Europe. The slot management team has expertise and considerable capability, with over 60 years of extensive contacts and combined experience at European airports. Base Management: Overnight stops can create unnecessary costs. EasyJet were located aircraft and crew by managing the bases, they were able to maximise revenue and improve efficiency. Constantly under review the base location. For example, since 2006, EasyJet increased the number of aircraft based in Italy and France. Such as Luton, they also reduced capacity at under performing bases. How is the management balancing their online and offline promotion methods? Efraim (2008) mentioned that, in a click and mortar business, the allocation of resources between offline and online activities can create difficulties. Especially in sell side projects, the two activities can be viewed as competitors. In this case, personnel in charge of offline and online activities may behave as competitors. This conflict may cause problems when the offline side needs to handle the logistics of the online side or when prices need to be determined. Corporate culture, the ability of top management to introduce change properly, and the use of innovative process that support collaboration will all Pricing Strategy Traditional methods for determining price are the cost-plus and competitor models. Cost-plus means adding up all the costs involved material, labour, rent, overhead, and so forth and adding a percentage mark-up as profit. The competitor model determines price based on what competitors are charging for similar products in the marketplace. Pricing products and services for online sales changes these pricing strategies in subtle ways: Price comparison is easier: In traditional markets, either the buyer or, more often, the seller has more information than the other party, and this situation is exploited in determining a products price. By facilitating price comparison, the EasyJets internet booking system helps created what economists call a perfect market one in which both the buyer and the sell have ubiquitous and equal access to information, usually in the buyers favour. Online and offline goods are priced differently: In EasyJets pricing strategy, it was difficult for click and mortar company. Setting prices lower then those offered by the off-line business may lead to internal conflict, whereas setting prices at the same level will hurt competitiveness. Differentiated pricing can be a pricing strategy: For decades, EasyJet have maximized revenues with yield management charging different price for the same product. EasyJet is in the B2C marketplace, one-on-one marketing can extend yield management from a class of customer to individual customers. Bockstedt el al. (2005) also mentioned that, versioning is selling the same good but with different selection and delivery characteristics, is especially effective is selling digitized goods. Last minute deals: I attention that, in practice, last minute deals were sometimes offered, often at very low prices. If the airline decides to launch in such offers, either via a reseller or directly, it can set a new price that will allured the lower end of the tourist segment that didnt purchase tickets. Last minute deals were always made very close to the actual flight time. The overall impact of these changes is good news for the consumer. Internet technologies tend to provide consumers with easier access to pricing information, which increases their bargaining power. To remain competitive and profitable, sellers will have to adopt smarter pricing strategies. Specifically, business will have to look at ways of using the internet to optimize prices, primarily through greater precision in setting prices, more adaptability in changing prices, and new ways of customer segmentation for differentiated pricing. What impact is the implementation of strategy having upon the performance of the business? To improve results for any aspect of any business, performance management is vital. The process and systems intended to monitor and improve the performance of an organization and specific management activities such as internet marketing are widely known as performance management systems and are based on the study of performance measurement systems. Defining the performance metrics framework: Kotler (1997) mentioned that measurement for assess the effectiveness of internet marketing also be related to different levels of marketing control. These include strategic control, profitability control, annual plan control and efficiency control. Efficiency measures are more concerned with minimizing the costs of online marketing while maximizing the returns for different areas of focus such as acquiring visitors to a web site, converting visitors to outcome or achieving repeat business. Chaffey (2000) presents a framework of measures which can be applied to range of different companies. Metrics for the categories are generated as objectives from internet marketing planning which then need to be monitored to assess the success of strategy and its implementation. Business contribution A contribution to business profitability is always the ultimate aim of e-commerce. To assess this, leading companies set an internet contribution target of achieving a certain proportion of sales via the channel. When EasyJet (www.easyjet.com) launched its e-commerce facility in 1998, it set an internet contribution target of 30 per cent by 2000. They put the resources and communications plan in place to achieve this and their target was reached in 1999. Assessing contribution is more difficult for a company that can not sell products online, but the role of the internet in influencing purchase should be assessed. Discounted cash flow techniques are used to assess the rate of return over time. Service contribution from e-channels should also be assessed. Tools and techniques for collecting metric and summarizing results Techniques to collect metrics include the collection of site visitor activity data such as that collected from site log files, the collection of metrics about outcomes such as online sales or email enquiries and traditional marketing research techniques such as questionnaires and focus groups which collect information on the customers experience on the web site. I start by describing methods for collecting site visitor activity and then review more traditional techniques of market research which assess the customer experience. EasyJet was used customer relationship management CRM software to enhance its online booking server and reduce operational costs. Tony (2006) mentioned that CRM was specifically about gather customers information to provide their own customer service through the web. The CRM system was centralised all the data and information and allows innovations in customer service to be deployed and tested. An email marketing automation tool and a pilot voice self service solution is also can provide and enhanced levels of customer support with EasyJet. Legal and ethical issues Plamer (2005) mentioned that business ethics defines how a company integrates the core values of honesty, trust, respect, and fairness into its policies and practices and complies with legal standards and regulations. The scope of business ethics has expanded to encompass a companys actions with regard not only to how it treats employees and obeys laws but to the nature and quality of the relationships with shareholders, customers, business partners, suppliers, the community, environment, and future generations. European companies especially have embraced this expanded definition of ethics. e-Commerce ethical issues Two additional e-commerce related ethical issues are non work related use of the internet and codes of ethics. Non work related use of the internet EasyJet had a policy to avoid the employees used email and the web for non work related purposes. The use of company property for email and inter use creates risk. The degree of risk depends on the extent to which the company has implemented policies and procedure to prevent and detect illegal uses. EasyJet was also held liable for their employees use of email to harass another employee, participate in illegal gambling, or distribute child pornography. Some employees may use the company email to advertise their own business. Used other corporate computing facilities for private purposes may be a problem. Codes of ethics Volonino and Robinson (2004) were discovered that a practical and necessary approach to limit non work related internet surfing is an internet Acceptable Use Policy (AUP) that all employees must agree to. Without a formal AUP, it was much more difficult to enforce acceptable and eliminate unacceptable behaviours and punish violators. Whenever a user signs on to the corporate network, the user should see a reminder of the AUP and be notified that online activates are monitored. Such notification should be a part of a code of ethics. EasyJet have some corporate web policy guidelines, such as issue written AUP guidelines about employee use of the internet and communication systems including email and instant messaging; make it clear to employees that they cannot use copyrighted or trademarked material without permission. Post disclaimers of responsibility concerning content of online forums and chat sessions. Make sure that web content and activity comply with the laws in other countries, such as those governing contests and privacy. Corporate Social Responsibility A recent report (University of Exeter Business School 2010) has suggested that Corporate Social Responsibility (CSR) was an approach to business that takes account of issues combine with environment and society in addition to the more traditional business consider of profits and shareholders. CSR was not a new concept, it has evolved from its provenance in 19 century corporate charity and much attention both in policy circles and academic. EasyJets goal was ensure have an efficient as possible in the existing business, both on the ground and in air, and found some method to minimise its environmental impact in the future. The below details was show the EasyJet how to manage and monitor its environmental impact. The impact of EasyJet on the environment was involved the following: Greenhouse gas emissions: water vapour, nitric oxide and nitrogen dioxide (together NOx), carbon dioxide (CO2), some of which at altitude. Particulate emissions: soot and sulphate particles, some of which at altitude. Waste: chemical was involved in aircraft. Noise. EasyJet didnt have full CSR policy, buy they have an Environmental Code with three promises, first one was to be environmentally efficient in the air, and the second was an environmentally efficient on the ground and last was to lead in shaping a greener future for aviation. EasyJet strives to be efficient in the air: EasyJet was investment in the latest technology such as buy the new aircraft, the new technology aircraft were more fuel efficient than older models. Efficient use of aircraft, each of Airbus A319s carries 26 per cent more seats than the norm and potentially carries 57 per cent more passengers per flight than the European norm. Provide direct point to point flights, avoidance of air congestion and monitors its performance relative to other transport options. EasyJet strives to be efficient on the ground: EasyJet policy was to use the most efficient and simple ground equipment and simple airport infrastructure requirements. EasyJet was also keeps surface journeys to a minimum and minimal waste, such as no frills service was designed. EasyJet leads the way in shaping a greener future: EasyJet shaped European policy on making air traffic system more efficient and actively engaging with aircraft manufacturers to influence next generation technology.

Whose history, which narrator? :: Essays Papers

Whose history, which narrator? Salman Rushdie’s Midnight’s Children can be read, inter alia, as the unfolding of the twentieth-century India’s history. There is in the novel, virtually all of the twentieth century Indian history: the Jallianwalla Buch tragedy, Quit India movement, Cabinet Mission, freedom movement, Muslim League and its role, riots and bloodshed subsequent to the independence, Five Years Plans, reorganization of Indian states and language riots, Chinese aggression, the theft of the sacred relic from the Hazratbal mosque, Pakistan War, liberation of Bangladesh, the Emergency, the military coup in Pakistan in 1958, and various other historically important events. There are also typically Indian divisions and dissents, chaos and disillusion, communal tensions, religious fanaticism besides traditional values and modernizing efforts. One aspect Rushdie places emphasis on, is the close link between the history of India and the history of Saleem’s family. In the end, the former can be read as a family album. Saleem’s uncle, Zulfikar, is a Pakistani general who helps General Ayub Khan to plan the military takeover of 1958; his aunt is a mistress of Homi Catrak, who is shot by the husband of Lila Sabarmati, another of his mistresses (Commander and Mrs. Nanavati in real life); his classmate Cyrus Dubash becomes the founder of a religious cult that seems to be an amalgam of Guru Maharaj and Hatha-yogi Lakshman Rao who claimed he could walk on water; Saleem himself triggers off one of the worst language riots in Bombay; his mother was first married to Shcikh Abdullah’s right-hand man; the disappearance of the Prophet’s Hair is linked to his grandfather. In addition, Saleem belongs to an extremely peculiar group of 1,001 children born within the very first hour of India’s independence, on the 15th of August 1947, and capable of performing paranormal phenomena. Saleem, thus becomes an authentic representative of India, he is India. Rushdie is convinced that there is a connection between public affairs and private lives. They interpenetrate and that is how the writer needs to examine them, the one in the context of the other. In the light of this consideration we can read the passage in which Saleem declares: Who what am I? My answer: I am the sum total of everything that went before me, of all I have seen done, of everything done-to-me. I am everyone everything whose being-in-the-world affected was affected by mine. I am anything that happens after I’ve gone which would not have happened if I had not come.

Billy Budd Essay -- essays research papers

This story depicts how a certain innocent person was condemned and was sentenced to death for a crime he did but with an innocent motive. The story goes on around a certain person's life in a ship where he was said to be one of the crew. Billy as a character depicted in the story is a person whose innocence can not be changed into hatred for other people. Though his surrounding is full of people with evil motives, he is still into trusting them with full innocence. Evilness beyond comprehension Such evilness is beyond the main character's understanding, and his being weak causes him to lose his sense of defending himself. With this state of the character's condition, some people around him tend to abuse his weakness, such as the character which is depicted as an evil person in the story who?s Claggart. Claggart as an evil influence in the story caused Billy to use a brutal way to express Billy?s madness because he is speechless, Billy was then susceptible in making an attack due to the evil atmosphere on the ship. By Billy?s innocence, he was dragged to the wilderness of violence. It is beyond his comprehension that it is indeed the evil?s intention to ruin the goodness in his heart. Indeed the evilness had him off guard that had caused him to be condemned. The writer depicted his main character?s innocence as something to be really loved and liked by other people but also a personality which is something to be pitied about. Billy depicting Jesus Christ In simple but complex ways, the main character was said to be somehow depicting Jesus Christ?s sacrifice for the betterment of everyone. He was, as Jesus was condemned to death though they are both innocent. It is showed in the story that the main character?s in... ...could cause a certain person weakness and vulnerability that could be the main cause for him/her to be deprived by others by his own life. Thesis This story only tends to show the readers how difficult it is to live in this world full of evil forces thus a person like Billy is innocent about such thing. It depicts how a human would only suffer of his innocence in this kind of world. And that innocence is vulnerable to evilness and deprivation to life as the character was deprived of his life due to his innocence and lack of comprehension about evilness. Also that the law which is supposed to give justice, it is the one that deprives people by not considering a certain accused persons statement or side. The kind of law in the story is the one that manipulates a person to view the case in a right manner according to the true essence of justice (Melville, 1924).