Crucial To Understanding The Appeal Of A Multi-National

Crucial to understanding the appeal of a multi-national economic deal is understanding the theoretical outcomes of such deals. In many cases, the most appealing feature of these institutions is their long-term benefits. Free trade’s opponents focus their criticism on the deals’ short-term consequences, such as ephemeral job loss in the state with higher labor costs. A temporary decline in employment does not outweigh the long term benefit of an economic deal such as NAFTA, which had the potential to refocus billions of dollars on goods which American industry is more efficient at producing in a process known as creative destruction. Using international relations concepts, I will explain why the formation of the North Atlantic Free Trade†¦show more content†¦Bartra explains that not all citizens were willing to sacrifice their cultural identity for economic gain, writing â€Å"[proletariat subculture] has surfaced on the backward periphery, where the pains of a deferred industrial revolution are made more acute by the consequences of colonial and imperial oppression† (34). Published in 1992, Bartra’s essay refers to the time frame in which North American diplomats hurried to draft and rally support for NAFTA. Mexico’s economy was in the process of industrializing, with a large boost to come yet again after North American leaders ratified NAFTA. In the eyes of Bartra and many others, the inevitable increase of American cultural influence represented a form of oppression. The United States would bring its manufacturing industries to Mexico in search of cheap labor. In return, Mexico would gain jobs and an increased standard of living as American-owned factories paid more than many existing jobs for unskilled Mexican laborers. With the increase in American investment in Mexico, citizens of the two nations cooperated to optimize manufacturing outputs, increasing cohesion between the two groups. Trade-offs play a significa nt role in every economic agreement. It is impossible for each nation to produce a sufficient amount of each good necessary to maintain its population, making trade an integral part of societal function. In theory, specialization leads toShow MoreRelatedthe worst hard time1139 Words   |  5 Pageson the significance of these differences. Do the accounts share the same purpose and audience? How do the messages vary? Analyze how the different medium and genre—a historical book vs. a documentary film—employ similar or differing strategies to appeal to the audience and carry out their message. 4. 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An Experience of a life time Free Essays

â€Å"Get to bed, Dharam,† my mother shouted. The excitement, the adrenaline pumping in me, kept me awake all night. I was trying to imagine myself in India, wondering what it was going to be like: the people, the country, the weather, I couldn’t keep the energy inside of me; I just wanted to get there and see it for myself. We will write a custom essay sample on An Experience of a life time or any similar topic only for you Order Now The following morning, I gave my love and best wishes to my family and departed from Manchester International Airport. I then found myself on air India Flight heading to my destination Delhi. It was 5:00 am when we arrived in India. The smell hit me straight in the face, the heat firing at 36’Celsius came gushing at me; the people were rushing around like ants on a summer’s day! I was in the fourth dimension it was nothing like I had imagined. The hooters and revving engine of the cars that cluttered the busy streets merged in a great cacophony of sound. There were people begging for money, there were people making food on stoves on streets having lived in England it was a sight I was not familiar with. Music came from all directions not just of songs it was the engines of cars and there hooters. I was amazed how different it was compared to England; it was hot, sticky, and noisy and overpopulated. Although I was extremely tired, I was also excited because this was a different atmosphere from what I had seen before, it wasn’t just another holiday; it was my first time out of the country. At that time I didn’t really think about England, I was too concerned about what my dad’s family were going to think about me because this was the first time I had seen them in my life. Then questions started to come into my mind like will they like me? Will I like them? What do they look like? Would I fit in with them? As I got out of the airport I heard someone shout my dads name I didn’t have a clue who it was but I realized it was someone from my dad’s family I didn’t ask who it was because I was too concerned about what was going on, but one thing I noticed straight away was that the people and animals were walking on the roads without a care in the world. My first reaction was, â€Å"God, where have you bought me†? That was the first time I missed home but as my journey progressed I was then fascinated with the way the country was. As the week ended I had settled in and got used to the environment. In one hot week I visited most of New Delhi and all the temples in New Delhi, but as the week ended my heart started to pound just as it was when I arrived at the airport. I knew the time had come to visit my other relatives. As I sat on the train staring out of the window, the sun was hitting me straight in my face. I started to think what I going to say to them. As the train stopped at Kurukshetra, we caught a taxi to my aunt’s house. I took a deep breath and went in. There were my cousins sitting down watching cricket; they got up and greeted me. I felt like I had met them before, I got a warm feeling from them. My cousins introduced me to all their friends and showed me one of the biggest zoos in India where you could a touch baby lion. At first I didn’t touch it because I thought to myself that it was a lion. But my cousin finally persuaded me too. My two days in Kurukahetra went so fast but I knew that I would return. My next stop was at Patiala in the northwest in the state of Punjab, to see my dad’s grandmother. This time I wasn’t as nervous as I was before. As I came off the bus I felt different. I was used to the road and cars everywhere. Patiala was different from Delhi and Kurukshetra, it was cleaner and there were no animals running around there was also no pollution. I stayed in Patiala for a week because I found it clean compared to the other cities. I visited my Dad old school and saw where he had worked. As he was showing me I could see that he felt very emotional leaving his home country. After a week in Patiala, I headed back for Delhi to visit my mum’s parents who were visiting from England I couldn’t wait to see them because I new they could speak the same language as me. Two days later we went to Agra to see the TajMahal; I was so amazed to see how magnificent the marble brickwork was and by the stunning architecture. There were people visiting from all over the world. As we went inside the TajMahal, it was dark the guide with a torch came over and told the story behind the TajMahal. He told us that Shah Jahan made this for his beautiful wife as a memorial; Shah Jahan chopped the hands off his workers after the building was completed so that they couldn’t make another building like the TajMahal. I was beginning to realize why Shah was so obsessed with the TajMahal and why he didn’t want it duplicated. As I went to my hotel I then thought to myself, â€Å"Now I can understand why so many people visit the TajMahal† Before, I’d thought it was just another building. I was now my third week in India time had passed by very quickly. As I was looking out of the window I was thinking about England, thinking, â€Å"What are they doing back at home? † I was missing my bed and fish and chips also the toilets, the Indian toilets were just like a whole in the ground. In that week I didn’t want to stay in India, I was home sick, I was fed up looking at people with no legs or no arms and families with children who were only five or four years old asking for money, the poverty was too great, I just wanted to go home. As the week ended my dad and I decided to go back to Kurukshetra where my cousins lived. I stayed there for two weeks and went to the golden temples in Amritsar. As we got to Amritsar it was dusty and had animals all over. As we walked in side the golden temples it was amazing and peaceful, you could not hear any of the noises from outside. I felt like I was in heaven I was amazed with the beauty I hadn’t seen anything better before in my life this also made be proud to be a Sikh. My dad woke me up at five o’clock in the morning to have a Shannon (which is a bath). It is said to purify you of your sins. We stayed there for two days and went to Patiala. As we got to Patiala it was holy this was a festival of colours happens once a year on March 3. As I was new, the town people decided to get me, to show how they play hoily. One man came from behind and threw a bucket full of colours. After 12 o’clock hoily was finished so I decided to have a bath. As I went in no water came I then started too appreciate that I was from a richer country, they told me the water comes on at five o’clock. As time went on the colours started to dry and crumble, it made me feel itchy and irritable. As the week ended there were two weeks left for me to go home. I knew time was coming up to go back. One part inside of my wanted to stay and the other didn’t. 48 hours! The clock was ticking. I looked at the calendar and my emotions ran I had the feeling that someone was taking pieces of my heart away. Will I ever come back? Will I ever see these people again? I felt depressed. I didn’t want to go home, well not yet. I enjoyed myself so much that I didn’t want to leave. I sat in the room where I slept and looked at all four walls of the room and said,† Dharam you’re going home to your family. † I checked again to see if I was missing anything. I then went out and spent the rest of the day with my friends also enjoyed the Indian food. I bought some gifts for my family and got ready for my journey to Delhi airport. I said my final farewells and realized the adventure was over and I was returning back to reality, back to England. When I got into the aeroplane, my tears ran down my face as I looked out of the window all I could manage was a wave. How to cite An Experience of a life time, Essays

Legal Environment Professional Cycling

Question: Discuss about theLegal Environment for Professional Cycling. Answer: Introduction The firm that has been used for this stock valuation task is Woolworths Limited which deals with organised retail business with the predominant format being that of supermarkets. The company enjoys a healthy share of around 40% and together with Coles form a virtual duopoly which in the recent years has been challenged to some extent by the entrance of German discount retailers like Aldi. The company besides being present in the grocery and liquor business also has major presence in fuel retailing (in association with Caltex), runs discount department stores, has presence in the home improvement segment besides hotels. The major market served by the company is Australia which accounts for more than 85% of the revenue generated. The company has presence in wide parts of Australia with estimated store strength of about 975 stores and is steadily increasing its presence and market share in the New Zealand market. The company also has limited presence in selective verticals in South Afri ca, Hong Kong, India and UK (Woolworths, 2016). The current market capitalisation of the firm is $ 30.77 billion. The given report aims to conduct a quantitative and qualitative analysis of the company taking into consideration the last five year financial statements so as to opine on whether investment should be made in the stock or not. Recent Stock Movement The stock price movement of Woolworths during the last one year is captured in the graph shown below (Yahoo Finance, 2016). It is apparent from the above that in the last one year, the stock has delivered negative returns and has underperformed the ASX 200 index. Further, it is also apparent that there is a range bound movement of the stock with support coming in at lower levels and resistance at the higher value of the stock as investors book profits (Geurard, 2013). Considering the competitive nature of the industry and the current macroeconomic conditions that are not ideal for the industry, such kinds of sideways movements are not unexpected. Further, even though the fundamentals of the company remain in place, it seems that the stock is poised to underperform the broader markets primarily on account of industry dynamics, lower fuel prices and lacklustre trading environment (Petty et, al., 2015). Quantitative Factors The impact of various quantitative factors include the trend analysis with regards to the major items in the financial statements namely the income statement and balance sheet along with analysis of selected ratios so as to comment on the financial performance of the firm. The concerned period of interest is from FY2012 FY2016 which constitutes a period of five years. Income Statement Items Revenue The revenue growth for the company has been impressive in FY2013 as compared to FY2012 on the back of improved trading environment coupled with rising consumer confidence and increased prices of fuel. After a uptrend from FY2012 to FY2014, there has been a negative growth or de-growth witnessed in the revenue in FY2015 and FY2016. The negative growth in these years may be attributed to namely two years i.e. increased competition especially with the entry of international German discount retailers which have increased their market share coupled with sharp decrease in the fuel prices which has adversely impacted the fuel sales. Further, in FY2015, there has been decrease in the number of Caltex outlets which have been added to the revenues and hence the revenue has been lower (Woolworths, 2012; 2014; 2016). Gross Profit From FY2012 to FY2014, there is an increasing trend in the gross profit which has increased from $ 14.46 billion to $ 16.48 billion. The encouraging trend in this regard is the improvement of gross profit margins by 54 bps and 17 bps in FY2013 and FY2014 respectively. The improvement is primarily driven by expanding margins in the Australian food and liquor business coupled with Hotels. Besides, in FY2014, the gross profits were negatively impacted by the decreasing margins in the general merchandise business. However, during FY2015 and FY2016, there have been shrinking gross profit margins which are attributable to the lower prices of fuel coupled with higher competition in the food and liquor segment which is stalling price increases and thus in order to stem the falling market share, the margins have fallen (Woolworths, 2012; 2014; 2016). Net Financing Costs With regards to financing costs, there has been an increase trend in this regard from FY2012 to FY2016 which has been briefly interrupted in FY2014 as there has been a slight decrease in the finance costs on the back of stellar performance in FY2013 on the basis of which there has been a reduction in the outstanding debt and hence leading to the decreased expense in the form of finance costs. Additionally, some part of the total interest costs in the various years is also capitalised which influences the overall financing costs (Woolworths, 2012; 2014; 2016). Net Profit With regards to net profit, there has been an increasing trend from FY2012 to FY2014 but the same has been reversed in the subsequent years and infact in FY2016 the company has reported a loss. While the decrease in FY2015 net profit may be explained on account of lower gross profit margins coupled with increased operational costs, but the losses made in FY2016 can be explained on the basis of loss to the extent of $ 3.1 billion on account of discontinued business (Hydrox Holdings Pty Ltd). Further, there has been a steep rise in the administrative expense by about 21% on a y-o-y basis which has led to steep fall in the operating margins of the continued business operations (Woolworths, 2012; 2014; 2016). Balance Sheet Items Cash From FY2012 to FY2015, there is an uptrend with relation to the cash balance which has come down only in FY2016. While during FY2012 to FY2014, there has not been much change in cash balance, however the FY2015 cash balance is significantly greater than FY2014 corresponding figure which is caused due to lower cash flow on amount of investing due to a weak trading environment persisting in Australia. However, the lower cash balance in FY2016 is primarily attributed to the lower cash flow from operations which have led to decrease in the overall cash balance (Woolworths, 2012; 2014; 2016). Intangible Assets With regards to intangible assets, there has been an increasing trend from FY2012 to FY2014 which has then reversed into a declining trend over the period FY2015 FY2016. While, the decline in FY2015 is only marginal and caused due to discontinued business, the decline in FY2016 is comparatively more significant and prompted by the decline in goodwill to the tune of $350.9 million and this decrease has been witnessed in relation to the continued operations only(Woolworths, 2012; 2014; 2016). Trade and Other Payables There is an increasing trend in the trade and other payables which is witnessed during the given period i.e. FY2012 FY2016. This is apparent from the fact that trade and other payables have increased from $ 5.24 billion as on June 30, 2012 to $ 6.26 billion as on June 30, 2016. It is apparent that the increase of trade payables reflects towards a greater credit period for the company which to an extent may be driven by the difficult conditions in the retail industry and hence the company would want to minimise the working capital requirements (Woolworths, 2012; 2014; 2016). Non-Current Borrowings In relation to the non-current borrowings, there is a declining trend from FY2012 to FY2015 but has increased only in FY2016. The increase in FY2016 is primarily on account of increase in long term bank loan to the tune of $ 853.2 million. The decrease in the long term borrowings augers well for the company and ensure that the company has less leverage and therefore could raise more debt to withstand the competitive environment using deep financial pockets (Woolworths, 2012; 2014; 2016). Shareholders Equity There is an increased equity trend from FY2012 to FY2015 primarily due to increase in issued capital and higher retained earnings on the basis of the profitable operations of the company. The issued capital has seen an incline in every year of the given period including FY2016. As a result of this, the issued share capital has increased from $ 4.37 billion at the end of FY2012 to $ 5.35 billion at the end of FY2016. This highlights that during the period under assessment incremental shares to the tune of $ 0.98 billion have been issued by the company. However, the major increase in equity is on account of increased retained earnings. The decline in equity as on June 30, 2016 could be explained on the basis of sizable reduction in the retained earnings due to loss of $ 3.1 billion incurred due to discontinued business as explained above (Woolworths, 2012; 2014; 2016). The selective ratios for the company for the given time period are computed as follows (Woolworths, 2012; 2014; 2016). Particulars 2012 2013 2014 2015 2016 Return on total assets 8.42% 10.15% 10.13% 8.47% -5.25% Net profit margin 3.29% 3.85% 4.02% 3.64% -2.12% Inventory Turnover 11.0 10.2 9.5 8.8 9.4 Current ratio 0.9 0.9 0.9 0.8 0.8 Price earnings ratio 17.93 18.05 18.01 15.83 -21.38 Debt ratio 0.61 0.58 0.57 0.56 0.63 The explanation with regards to the above ratios is offered below. ROA or Return on Total Assets The ROA has jumped from 8.42% in FY2012 to 10.15% in FY2013 primarily on account of higher percentage increase in net profits as compared to the total asset increase. However, there was a marginal decline in ROA in FY2014 over the previous year as the profit increase was marginal and not able to match the percentage increase in total assets. But the real worry is the decline in FY2015 and FY2016. There is a drop in ROA in FY2015 due to the drop in profitability of business operations caused to falling margins of fuel retailing besides higher competition experienced in the food and liquor segment leading to negative growth in revenues. Besides, in FY2016, the company incurs a loss due to discontinued operations which leads to a negative ROA (Woolworths, 2012; 2014; 2016). Net Profit Margin There has been a positive trend in the net profit margin during the period FY2012-FY2014 on the back of growing margins in the food and liquor segment coupled with hotels business. This is the result of various initiatives undertaken by the company to streamline the operations and cut down on the overheads costs so as to ensure that the company stays competitive in a market highly sensitive to prices. However, the net profit margins have taken a dip in FY2015 primarily on the back of lower gross profit margins as the competition level increased coupled with higher operational expenses. The decline in margins in FY2016 from continued businesses is on account almost 21% increase in the administrative costs over the corresponding values in FY2014. Further, the discontinued business loss to the tune of $ 3.1 billion has resulted in the PAT turning negative (Woolworths, 2012; 2014; 2016). Inventory Turnover There is a declining trend in the inventory turnover from FY2012 to FY2015 which hints at higher cash cycle and is not in the best interest of the company or the shareholders. This may be attributed to the continuously rising inventory levels from $ 3.7 billion as on June 30, 2012 to $ 4.87 billion as on June 30, 2015. This may be reflective of the muted sales of the company which may not be in accordance with the expectations of the company. However, at the end of FY2016, there is a decline in the inventory level and hence an improvement in the inventory turnover (Woolworths, 2012; 2014; 2016). Current Ratio The current ratio for the company has shown very slight variation as from FY2012 to FY2014, the current ratio remains almost constant at 0.9. This may be attributed to proportionate changes in both current assets and current liabilities. However, in FY2015, there is a decrease in the current ratio fuelled by the higher percentage increase in the current liabilities caused due to increased amount of current borrowing in FY2015 as compared to the previous year. In FY2016, even though there is a decrease in current borrowing by almost $ 1.1 billion, but to some extent this is balanced by increase in $ 0.8 billion on account of provisions, the net result of which is that the current ratio has not improved (Woolworths, 2012; 2014; 2016). Price earnings ratio With regards to P/E ratio, there is a slight improvement from FY2012 to FY2013 which may be on account on better financial performance by the company. However, for FY2014, the P/E ratio remained almost static. Then, in FY2015, due to increased competition and falling margins especially on fuel retailing, the P/E ratio was adversely impacted particularly on concerns with regards to growth especially in the short term. The concern continued in FY2016 as earnings became negative on the back of loss to the tune of $ 3.1 billion arising from discontinued business (Woolworths, 2012; 2014; 2016). Debt Ratio The debt ratio has shown a marginal declining trend from FY2012 to FY2015 but there has been a reversal in the trend in FY2016. The declining value of debt ratio was favourable for the company implying that the liability as a percentage of debt was on the decline. The increase of the debt ratio in FY2016 is primarily on account of the decrease in total assets brought about mainly in decrease of PPE from $ 10.06 billion as on June 30, 2015 to $ 8.26 billion as on June 30, 2016. This has been brought about due to the discontinued business (Woolworths, 2012; 2014; 2016). Industry Comparison and Recommendation Strengths of the company The ROA of the company for all the given years (on basis on continuing operations) is greater than the industry average of 1.88%. The current ratio of the company is marginally better than the industry average of 0.88 for FY2012 to FY2014. The net profit margin and debt ratio of the company is also superior to the level of the industry. Position of being market leader with a sizable market share. Weakness of the company The company needs to improve with regards to short term liquidity particularly considering the competitive landscape of the industry. The overall competitive nature of organised retail industry in Australia. The e-retailing segment of the company lacks strength. The macroeconomic conditions associated are not favourable at the present. From the above, it is apparent that the company in the long run would deliver returns as the business fundamentals remain sound. But in the near to medium term, the stock is expected to be range bound only as the margins made witness more pressure and thus have a downward bias. Clearly, it is best to avoid the retail industry stocks and instead look at companies in other industry segments which offer much better value and growth upside. Hence, taking above factors into consideration, it may be recommended that investment should not be done in the companys stock (Parrino Kidwell, 2011). Stock Valuation Exercise Dividend paid by Woolworths in FY2016 ($ per share) = $ 1.65717 Perpetual dividend growth rate (given) = 4% p.a. Expected return on Woolworths stock = 9% p.a. Hence, expected dividend in FY2017($ per share) = 1.6517*1.04 = $ 1.72345 Thus, by applying the Gordon Dividend Discount Model, we get (Northington, 2011) Fair price of the stock = 1.72345/(0.09-0.04) = $ 34.47 Thus, at current price, the stocks seem to be underpriced. However, it is imperative to note that market dynamics tend to function differently from theoretical prices and it may take a long time before this aberration is corrected as the markets may not be efficient (Kane Marcus, 2013). References Guerard, J 2013,Introduction to financial forecasting in investment analysis, 6th eds., Springer, New York Kane, BZ Marcus, AJ 2013, Essentials of Investment, 9th eds., McGraw-Hill International, Singapore Northington, S 2011, Finance, 6th eds., Ferguson, New York Parrino, R Kidwell, D 2011, Fundamentals of Corporate Finance, 3rd eds., Wiley Publications, London Petty, JW, Titman, S, Keown, AJ, Martin, P, Martin JD Burrow, M 2015, Financial Management: Principles and Applications, 6th eds., Pearson Australia, Sydney Woolworths 2012, Financial Report 2012, Woolworths Website, Available online from https://www.woolworthslimited.com.au/annualreport/2012/pdf/WW_AR12_FinReport.pdf (Accessed on October 11, 2016) Woolworths 2014, Annual Report 2014, Woolworths Website, Available online from https://www.woolworthslimited.com.au/annualreport/2014/files/Woolworths_Annual_Report_2014.pdf (Accessed on October 11, 2016) Woolworths 2016, Annual Report 2016, Woolworths Website, Available online from https://www.woolworthslimited.com.au/icms_docs/185841_Annual_Report_2016.pdf (Accessed on October 11, 2016) Yahoo Finance 2016, Woolworths Summary, Yahoo Finance Australia, Available online from https://au.finance.yahoo.com/q?s=WOW.AX (Accessed on October 11, 2016)

Crucial Factors You Should Know about How to Make Your Writing Perfect Every Time

Crucial Factors You Should Know about How to Make Your Writing Perfect Every Time Perfection to me is, I walk away from a situation and say, I did everything I could do right there. There was nothing more that I could do. I was a hundred percent like the meter was at the top. There was nothing else I could have done. You know? Like, I worked as hard as I possibly could have. Thats perfection. I would like to have such perfection in essays’ Have you ever wondered what the word perfect means? It’s an adjective that defines something that is complete and whole. It’s something that lacks nothing. So, take a look at the simple things. Is the sunset perfect? What about your children playing in the yard and laughing like they are the happiest on the whole planet? Is a flower perfect? Is the ocean lacking anything? Of course, I hope that NO. All these things are perfect because they are complete and not lacking anything. The thing is when you try to create something, don’t think how to make it perfect, it’s already perfect by its nature. The things are what they are. That’s the beauty and perfection of them. The understanding of this will help you improve your work. Believe me. Question that Kills Perfect Works Sometimes I receive the question from writers to tell whether some piece of writing is GOOD or BAD. Hmm, that’ the tough one. And you know why? Because I will never be able to answer this question. It’s a wrong question. Who am I to decide what is good or bad. This question killed thousands of worth-reading papers. Don’t you ever think that maybe your writing is not enough to be perfect? If youve discovered something inside you that made you write even those first few sentences, finish the whole writing. It is supposed to be. Try to be true to it. It’s an art. If you want to know whether it’s good. Just answer these questions. Is it lacking anything? Is it complete? Yes? Then it’s perfect. Be confident, be true, make your art perfect, no matter what they say. Chase the power that will lead you to the beautiful notion of perfection.

Product Liability essays

Product Liability essays Every day American consumers purchase products that they feel are beneficial to there development. Where that lies depends on the consumer. However, One underling variable is a constant when it comes to purchasing the product. That variable is whether or not the product is right for them. When the consumer purchases a product, they are liable for whatever mishaps may occur and accidents that may happen. But producers are not completely free from the liability of their product to their consumers. This is where product liability legal issues come from, a segment of the law which has seen its fare share of turmoil and difficulties. Product liability is the producers requirement to warn the consumer of and any possible troubles associated with the product. This is usually done with a warning label attached to the product, or is found via flyer form in the instruction manual. Sports and recreational equipment cause serious injuries everyday. There are many reasons for the cause of injury, but most cases of injury are due to product defects. These defects are manufacturing, design, and failure to adequately warn. Besides the product defects, consumers are exposed to other forms of potential mishaps, which are negligence, breach of warranty, and strict tort legal responsibility. Because America is a society largely dependent upon the outside means in which to entertain themselves, many Americans are changing from the casual spectator to that of the exuberant participator. Therefore, the number of accidents associated with products has risen. Subsequently, so have the court cases and trials. Product liability comes into play when the product breaks, or doesnt perform up to regulation standards set forth by the producer. In more cases than not, there is some form of injury sustained due to product defect or claims. So in short, the definition of product liability is the responsibility of the manufacturer to the user ...

Fashion and consumer science Term Paper Example | Topics and Well Written Essays - 3250 words - 2

Fashion and consumer science - Term Paper Example The essay "Fashion and consumer science" discovers the consumerism and fashion. The research question would be primarily based on the present consumer perception of the fashion counterfeit industry and the factors influencing their purchase decisions. The research objective would seek to present the benefits which the research would result in. The literature review would throw insight into the global trends in the sector and its implications on society. This is complemented by exploring the impacts of the business in the job market. The research would then conduct a hypothesis testing for the project. The research methodology chosen for the purpose would include both qualitative and quantitative methods. The several contributions that the dissertation would contribute to the literature would be presented as managerial and theoretical contributions or implications. Finally the major learning points from the research would be presented in the project. The project brings forth a compreh ensive view of the counterfeit fashion industry and the menace that it creates across the world. This is not a problem which is limited to few product and product categories, rather it has emerged a global phenomena affecting numerous industries. It can also have devastating effects on the society and its people. The report presents the menacing effects that this phenomenon has on society, the factors influencing the same and the means that may be adopted by the genuine fashion brands for protecting it. The clandestine nature of the activity makes it hard to obtain any accurate statistics on the same. However, copyright industries in USA have claimed that this sector remain subjected to huge losses. Counterfeit clothing and other items in the fashion world have predominantly prevalent in Europe. The most common technique of counterfeiting is by importing clothing and then attaching labels in one of the states which is followed by releasing the product for sales in some other state. The process gains from the goods freely moving across the borders. Most nations have demonstrated transactions in the sector and some of them have even evolved notorious in the field of production and exporting of fake products. Information provided by the European Union and United States have shown insight into the extent of such transactions and their impacts on society (Vithlani, 1997, p.4). Research Questions Since the project seeks to explore the factors influencing consumer’s behavior towards buying counterfeit fashion products, the research question has been developed based on the above idea. Even after having complete knowledge of the counterfeit fashion business, consumers are tempted towards buying the products. Moreover, such behavior of consumers also influences his preference for buying luxury brands. The project tries to explore both of the above aspects of consumer behavior. The research questions are as follows: Why consumers purchase the counterfeit fashion p roducts even after having knowledge of the same? When and how do counterfeits influence the genuine item consumers’ preference for luxury brands? Research Objectives This research would demonstrate that consumers’

Management Research Methods Essay Example | Topics and Well Written Essays - 1500 words

Management Research Methods - Essay Example Numerical data are exact and specific; therefore, their treatment is necessarily objective. On the other hand, qualitative data are descriptive and experiential, and therefore their treatment is subjective. There are necessary differences in the philosophies that govern quantitative and qualitative research methods. These philosophies define the world-view the method assumes when conducting research. The quantitative method is grounded in positivism, which asserts that the knowledge that is gathered through research can only be significant if it can be measured. It proceeds from the theory of Auguste Comte, the French philosopher, that the world is an external environment that can be seen externally and measured objectively. Opinions, impressions, and perceptions that cannot be measured are not significant in a positivist approach (Zawawi, 2007, p. 3). Qualitative theory, on the other hand, is based on the philosophy of phenomenology. This philosophy states that the world and its rea lity derive their meaning from people (Husserl, 1946 in Zawawi, 2007, p. 3). The experiences of people concerning certain phenomena provide their significance, thus their subjective understanding of the event or phenomenon is what comprises knowledge. This is why qualitative approach uses cases, descriptions and narratives to convey the knowledge gathered about an event. Comparing qualitative and quantitative approaches highlights certain important contrasts. One is that the quantitative method is deductive while the quantitative method is inductive. The deductive approach begins from established theory that relates to the topic being researched, and then goes on to seek evidence of its application in the real world. A hypothesis is tested based on the chosen theory, then situations are tested to see if they comply with the theory. On the other hand, the qualitative method makes use of the inductive approach, which begins with the focus of the research – the issue or problem, or the organization under study – and at the end of the research develops a theory that would explain the phenomena observed (Greener, 2008, p. 16). Furthermore, the quantitative approach is positivist while the qualitative is interpretivist. The positivist approach is characterized by the use of the scientific inquiry most closely associated with the natural sciences. The positivist approach emphasizes those observations that may be made with the senses, and promotes the process of experimentation, of statistically proving or disproving hypotheses, and to explain the discrepancies or deviations from the rule. Positivism emphasizes the objective or normative. On the other hand, quantitative techniques lean more towards interpretivism, which in turn is closest to the social sciences. This branch of the sciences attempts to interpret social phenomena in a way that explains consistently their causes and effects (Greener, 2008, p. 16 -17). There are many other differences betwee n the quantitative and qualitative approaches to research, but these are their most important contrasts. Section B With reference to Qualitative approaches describe the common methods used for data collection and analysis. (1000 words) According to Creswell (1998), qualitative research is defined as: †¦an inquiry process of understanding based on distinct methodological traditions of inquiry that explore a social or human problem. The researcher builds a complex, holistic picture, analyses words, reports