Ethical eaasy Essay Example | Topics and Well Written Essays - 1500 words

Ethical eaasy - Essay Example The textile materials treated by these chemicals have been banned in the markets in UK and US and so the organization resorts to selling its stock to the developing markets where there is no such legislation. The ethical dilemma in this problem The management of the organization had to make a decision between certain courses of action. There was an option of disposing the products that have been considered not fit for use and manufacture those that are required in the US and UK markets. There is also an option of looking for markets for the products in other regions that have no such regulations. The decision-making in the above case is bound by certain significant constraints. The initial problem that had ethical implications here is that the organization had already produced stock that was treated with carcinogenic agent. The organization did not want to run at a loss by disposing these products. The operations of the organization are also governed by the local, regional, and inter national regulations and a ban on such products in some countries will apply to this organization. Besides, there is also a need to consider the adverse effects of the products that led to its ban in these developed markets and whether it is ethical to introduce into the underdeveloped markets faulty products that have been rejected in the developed markets. ... It was then regarded unethical for a business organization to involve in the well-being of the society. In 1984, Edward Freeman proposed the Stakeholder theory that the objective of business is not only to maximize the shareholders’ profits but also to serve the interests of all the stakeholders of the organization (Crane & Matten, 2007, p.57). Stakeholders include all those parties influencing or affected by the decisions and operations of the organization and so the society is one such stakeholder. In solving such ethical dilemmas, we need to refer to the ethical theories that had been developed in moral philosophies like virtue theory (Aristotle), utilitarianism (Bentham), Immanuel Kant’s Universal law, and the Religious teachings among the other theories. The utilitarian approach will consider the consequences that a given decision will have on all the stakeholders of the organization including the shareholders (Petrick & Quinn, 1997, p.48). The products have been f ound to be contaminated with agents causing cancer. Selling these products to the consumers in the developing market is equivalent to exposing the consumers to cancerous agents. The overall costs to be incurred in managing the resulting cancer are unpredictably high and will be a threat to the economy. The developing markets may also not afford the same prices forcing the organization to lower its product prices thereby reducing the profits. Besides, a long-term effect will also be seen in its reputation in the emerging market should it be later known that the products were not fit. The organization will soon lose its position even in the emerging markets. Thus, the

Value Chain Framework Essay Example | Topics and Well Written Essays - 1250 words

Value Chain Framework - Essay Example The main changes are that at this value chain sophistication level, the company’s reliance on ERP for provision of Value chain support has been reduced and has initiated the utilisation of more BOB solutions for provision of more-advanced functionality. House-sourced technology tends to have been slightly increased within the stage as well. Here, companies develop specific applications for supplementing the core ERP functionality. Within this level, the amount of outsourced technology reduces the typically reduced functionality of some SCM SaaS solutions is deemed to be too functionally light, and on-premises BOBs are preferred. (Dua et al., 2011) Despite investing for growth, companies are aware that the disruption potential at any time does not vanish. Many work towards improving their Value chains’ resiliency for this risk mitigation. The past year brought about disruptions of global-scale Value chain which impacted multiple industries, right from chemicals to semiconductors as well as electronics to automotive. Increase in demand uncertainty as well as much more complex global Value networks reliant on high-risk geographic zones placed added pressures on Value chains’ ability to deliver results that are predictable. The disruptions have even called into question if Value chains have become too lean, requiring an essential approach change. (Shoanen and Joseph, 2004) In stormy times, as well as during the face of increasing risk and complexity, leading companies need more bearable, resilient Value chains which, support profitability and as well drive industry leadership. This necessitates that managers re-evaluate their Value network designs layout to ensure that they are made more resilient to future disasters. It may as well include designing products which, allow more flexibility in manufacturing and value, increasing long-term substitute sources of raw materials and logistics

Website Evaulation of American Cancer Society Research Paper

Website Evaulation of American Cancer Society - Research Paper Example These factors include: authority, information, objectivity, ease of navigation, privacy and security policies (Harmon, J. et al., 2010). Authority is defined by the underlying permissions and operational approval that guide the website. The website is meant to reach out to all stakeholders outlined in the objectives of setting up the website. The website is however subject to communications and internet laws and regulations. The monitoring and regulation is set to ensure that the power and authority jurisdiction of the website is not taken outside the set limits. The website is rich in information about cancer and related health issues. Information that pertains to every activity undertaken by the American Cancer Society is displayed on the home page. Research and development undertakings in relation to cancer are outlined. There are also links to external information of central importance to all parties interested in learning about cancer and related health issues. Objectivity factor of the website is an interesting scenario. The presentation made on the website in relation to the undertakings of the American Cancer Society is primarily based on phenomena observed in the health sector. Emotional and/or personal prejudices do not seem to influence the intended purpose and objective of the website. However, views and opinions at personal level are taken through the website to enhance further development and responsiveness of American Cancer Society to cancer and other health issues. The website’s set up is development in such a way that best suits the user. Navigation from one link to another is clearly outlined. At the lower part of the web page, there are numerous quick links that are specific to the information that will be pulled up when the user clicks on that link. The page is simply developed, with clear

Aldi Is A German Based Discount Retailer Chain Marketing Essay

Aldi Is A German Based Discount Retailer Chain Marketing Essay 1.Introduction: Aldi is a German based discount retailer chain establish in 18 countries. It is Europes largest retailer. Aldi got market in German, Australia, Austria, Great Britain, Belgium, France, Greece, Ireland, Slovenia, Switzerland, Denmark, Hungary, Netherlands, Poland, Portugal, USA etcà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ Aldi is the abbreviation for ALbrecht DIscount. This is a private company , it has started in 1913 by Mrs Albrecht. But after the second World War it has been managed by her sons Theo and Karl. In 1963 Aldi has been divided into two companies (Aldi North and Aldi South), but both of them followed same business model and strategy. Germany is the only country in which both the companies operated. The company specialized by selling staple products , Aldi shop sells approximately 700 grocery and household products. Those are chilled foods, canned and frozen goods, baked goods, meat dairy products, household supplies and a special range of locally bought products which customers shopped for on a regular basis. Enterprise system is a software product designed to integrate computer systems that run all phases of an enterprises operations to facilitate cooperation and coordination of work across the enterprise. The intent is to integrate core business processes (such as sales, accounting, finance, human resources, inventory and manufacturing). Business strategy means a long term plan of action designed to achieve a particular goal or set of goals. It states how business should be conduct to achieve the desired goals. We need to implement Enterprise System software in Aldi to successfully achieve those goals . 2 Main Body: 2.1 How could an Enterprise System support the business strategy of Aldi: 2.(1.1 ) Business Strategy of Aldi : Aldis one of the main business strategy is Top quality at incredibly low prices- guaranted and radical efficiencies without compromising product quality . Aldi selling top quality products but their price is comparatively lower than others because their buyers are expert in their field. They bring fresh fruits and vegetables straightway from farmers. Also, they buy them in big quantity. There is no middleman thats why they do not need to spend extra money. They negotiate with the hand-picked suppliers about substantial discount. There is a big savings .Also, there is no bagging facilities that means customers have to use their own bag or Aldi charges for bags. Moreover, there are staff limitations, three to five employees including cashier and manager at a time in each store. To avoid credit card company fees they refuse to accept credit card payments. They dont have any customer service facilities. By using those above methods they cut cost and provide cheap products. Aldi always careful about their product quality. If they find anything wrong about their product then straightway they give money back to customer by using product recall method. That means Aldi give an important notice to bring back that product or call customer service helpline to get their money back. Currently they got wrong with Gardenline Greenhouse and Conservatory Heater. They got some instance that the product could overheat and present a fire hazard. So, they stop to selling it and give a notice to take money back. Shopping cart retrieve system is another important strategy of Aldi. Aldi product is very cheap. So, we can buy all necessary products by spending few amounts of money. Because of that everybody need a cart to shop at Aldi store .If they get it easily then after shopping customers will leave it anywhere .Also, Aldi have to implement someone to organize them. It will be cost effective for Aldi. So, if customer want to retrieve a cart, they have to spend a coin but they will get it back when return that cart. Because of this strategy all carts are organized nicely and dont need anybody to look-after those. Texas stores open is another strategy of Aldi. Aldi expand their business with Texas. They open their first Texas store on Thursday 18th March 2010.Also, Aldi planned to open about 100 Texas stores by 2010. They open 11 shops in the Dallas-Fort Worth area. 9 more shops open in April and another 7 by May. After that Texas becomes Western most state in those are operates by Aldi. Aldis action loudly says likely they will expand their business in southwest. For instance ,they have developed a line of Hispanic products for their Texas stores. They will serve those products in Arizona and New Mexico because there are large Hispanic populations. Another strategy of Aldi business is   Ã‚  A new promotion campaign will be introduced over the next 4 months to encourage present customers to increase their use of Aldis products by 10%. This is about expand in existing market to maintain existing buyers. Promotional offer is their main tactic to attract customers. Aldi provide leaflet and newsletter to inform this offer. Their promotional offer is acceptable for customers. Offer is like buy one get one free of half price. Also, Thursday and Sunday special price. 2.(1.2) Competitor Analysis: There are some of the biggest competitors in the supermarket industry, those are Coles, IGA and Lidl . Working out competitors objectives gives the business a good idea of their current strategy and suggest what they will do in future. It is useful to know the relative importance that competitors place on profitability, sales volume and market share. This could give managers of the business insight into how competitors may react to their strategies. 2.(1.3) Strategy Formulation: In formulation, I am trying to modify the current strategies in ways to make the organization more successful. We already know about Aldis strategy and its environment, now strategic alternatives can be developed. Strategic alternatives depends on the current strategy of Aldi and the existing status that is experienced. There are several strategic alternatives that Aldi could undertake. First, they should keep improving mix product market. Another alternative is Aldi could consider to diverse their operations, like they can offer credit or debit cards payment. Third strategic option is that Aldi should do nothing to change their operation as it is currently working and complementing the external environment. Aldi has three strategic alternatives that totally complement their existing strategy and the initiatives taken in the market. There are three aspects of strategy formulation. Those are- corporate level strategy, competitive strategy and functional strategy. Corporate Level Strategy: In this aspect of strategy, we are concerned with broad decisions about the total Aldis scope and direction. Basically, we consider what changes should be made in our growth objective and strategy for achieving it, the lines of business we are in, and how these lines of business fit together. It is useful to think of three components of corporate level strategy: a) growth of directional strategy, b) portfolio strategy, c) parenting strategy Competitive Strategy: This involves deciding how Aldi will compete within each line of business (LOB) or strategic business unit (SBU). Functional Strategy: These more localized and shorter-horizon strategies deal with how each functional area and unit will carry out its functional activities to be effective and maximize resource productivity. 2.(1.4) Enterprise System Implementation: Enterprise system will provide real time information, enforce standards, helps to improve business process of the company. Enterprise system deliver as the backbone of an organizations information needs. It helps to improve business process and achieve fast connectivity with any branch, internally or externally data could be shared in real time. By using this software manager can monitor every aspect of the companys operations and performance .They can achieve their goal easily. Enterprise system software must make big changes in Aldis business process . It is enabling to better and faster decision making, reduce information reporting cost, decrease management hand-counts. Davenport point out in his book Mission Critical that, without implementing enterprise system it is impossible to do electronic commerce. If Aldi want to achieve worldwide market they need fast in time communication facilities. They only doing 2pages newsletter nothing else like online ordering or advertisement. They should start e-business, online information, home delivery. Successfully do the electronic business, Customer Relationship Management they need to adopt enterprise system software in their business. By using enterprise system software many organization in the world performed their business process. This system could help Aldi to achieve high levels of operational efficiency and will be able to respond more rapidly, deliver higher quality and improve cost efficiency. Aldi can access to ample data on both the market and internal operations. We can see the competitive difference comes from the analysis, interpretation and action depend on this data. Aldi can gain a strategic advantage by finding patterns and opportunities faster and deeper than competitors. To be a successful organization Aldi has to adopt changing circumstances and able to integrate and process information system. I think enterprise system is able to dramatically decrease transaction and communication costs. Whether the business core strength in efficient supply chain or superior customer service, instant visibility into key business process via service level agreement or performance metrics helps to achieve a competitive advantage in the World market. This software implementation cost is very high but it is important for long term success of the business. There is not any strong Enterprise System in Aldi Group. I think by implementing Enterprise system like CRM( Customer Relationship Management) system they can develop their business. 2.1.(4.1) Customer Relationship Management(CRM): CRM provides integrated functionality for marketing, sales, customer support and call centre requirements. Functions include- Call centre management, Sales force automation, Customer contact point management, Order entry and order tracking, Service management and content management. 2.1.4.(1.1) Call Centre Management: Aldi need to start call centre management system to improve their business strategy. Because consumers are very busy about their personnel life , they dont have any spare time. For that- sometimes customer try to find information about products availability, product quality and price by calling to customer service. Because there are many competitive markets , consumers got many choice. So, there is no point to spend time and extra money for same product. Understanding customer needs allows the organization to design customer-specific levels of service and track profitability at the customer level. They have to understand what is customers looking for. If the call centre management system is not good and all informations are not updated then customers will get wrong information. May be some times customers calling for information but nobody pick up the phone then they will loose the customer. This increase value per customer and customer retention. 2.1.4.(1.2) Sales force automation: Sales force automation (SFA) software is a type of program that automates business tasks such as inventory control, sales processing, and tracking of customer interactions, as well as analyzing sales forecasts and performance. Aldi need this for integration of sales and marketing to improve efficiency. Sometimes customers want to get timely and precise information about orders. When customer see there is delay about product deliver they need to know current situation. There need quick and reliable responses to all inquiries. Aldi have to be able to meet their commitment on time. If customers get any bad experience about commitment they will not come back again. They need frequent contract and follow-through facilities. 2.1.4.(1.3 )Customer contact point management: A contact point is the method a customer uses to communicate with a company. For instance , consider the different ways customer may interact an organization By visiting retail stores customers seek in-person assistance for their need and also discussion with company peoples. Fastest contact point is through the internet. Now-a-days electronic-commerce is most important method for purchasing certain types of products including music. Also, customers can contact with company personnel for companys financial issues. For instance, credit personnel help customer arrange the necessary funds to make a purchase. Aldi have to implement enterprise system to manage customer contact point. They need to start online ordering also, they should start to accept credit card payment. By providing these facilities they can achieve their goal. 2.1.4.(1.4) Order entry and order tracking: This is another method of CRM. When customer go for online shopping they need to open an account, they need authorization for online order and payment. Furthermore, customer can track their order by using their account. To improve Aldi business strategy they should provide order entry and order tracking facilities. Aldi will be able to attract more customer, increase their selling and profit. 2.1.4.(1.5) Service Management and Content Management: This is all about service and collection of procedures used to manage workflow in a collaborative environment. This procedures can be manual or computer based. CRM(Customer Relationship Management) system helps understanding customer needs, Aldi has to design customer-specific levels of service and track profitability at the customer level. This increase value per customer and customer retention. This system integrate sales and marketing to increase efficiency. Customers need timely and precise information about orders, quick and reliable responses to all inquiries, ability to meet scheduled commitments on time. CRM efficiency can be improved by providing current and important information to sales staff. Aldi can reduce sales calls, by sending e-mail, they can reduce communication costs, paper work costs, also integrated system decrease training costs. They can collect customer information by using web based and e-mail based tools. If Aldi start to use something like bonus card or club card, they will get overall idea about customer- which product customers like most, they can offer promotional items. It is easy way to attract customers to Aldi product. Customer Experience management (CEM) will provide autometed customer feedback. Customer can compare Aldi product with other company, easily find comparatively cheapest one. Aldi have to start all forms of trading like- direct, traditional, retail, e-commerce, wholesale, combination. Only then it is possible to make it world largest acceptable company. By using the Enterprise System software Aldi could fulfill their mission. Enterprise System will give information about them Customers will be able to know about Aldis efficiency, low price product, product quality, required product availability. Also, Manager can easily get overall idea about Aldi like- which product selling more, customers demand, which product need to be ordered more. Aldi got overseas business ,so it will be very easy and faster to get information about any branch in the world. They can do employee recruitment ,training, required staff in different Aldi branch, paying salary etcà ¢Ã¢â€š ¬Ã‚ ¦ 2.2 Barriers to implement Enterprise System in Aldi group: It is highly cost effective to implement Enterprise System in Aldi, because their main strategy is cheap price product supply. If they spend a lot of money implement Enterprise System they will not be able to sell product by cheap. The lack of clearly defined CRM strategies and support structures can burn organizations. Contemporary business strategy must realize how to filter the large data warehouses and integrate certain data into marketing and customer service strategy. Aldi have to face core problems to assess their strategy to the system, a number or actors are involved, internal and external staff. Staff need to be well trained to use the system otherwise it will upset customers that had their calls routed to wrong locations and increase call costs.It is not good enough to just plan resources required to run the enterprise, they need to be managed as well. 2.3 How Aldi can overcome from barriers: Aldi have to focus on staff training, order entry and call centre applications to seamlessly coordinate customer information from outside sales staff to inside customer support staff. This narrow focus enables Aldis staff to acclimate to the software quickly without feeling overwhelmed. Attaining goals in stages enable staff to take ownership of the systems and gather momentum for the new systems. They have to implement some specific trained staff to provide these facilities to the customer. 3 Conclusion: Aldi implemented good relationships with suppliers to ensure favorable prices over considerable quantities. With them, the business guarantees long-term commitments with producers which allow producing more in better conditions and cheaper, orders of whole lorries, saving of packaging costs. On the other hand, the consumers have a high power of negotiation because they are the target of several retailers. So they just have the choice to choose the one which suits to their budget. Aldi is Worldwide business company, so if they successfully implement Enterprise System in their business then it will support to establish their business strategy.

The Yellow Wallpaper by Charlotte Perkins Gilman and Lawrence Durrells Zero and Asylum in the Snow :: Wallpaper Asylum gilman Durrell Essays

"The Yellow Wallpaper" by Charlotte Perkins Gilman and Lawrence Durrell's "Zero and Asylum in the Snow" Society is a close-knit unit of individuals who unknowingly conform to an ideal set by them. The ideal that I speak of is not set in stone, but is ever changing, as is society. This changing ideal appears to be threatened by individual thinkers who rebel against social norms and who refuse to support conformity. This rebellion is exemplified in "The Yellow Wallpaper," written by Charlotte Perkins Gilman and in Lawrence Durrell's story, "Zero and Asylum in the Snow." These stories both involve characters that are labelled as sick in relation to the people who 'mesh' well with society. Society, however, has peculiar methods of healing these characters and succeeds only to force them further away from reality and deeper into a conscious dream world. 'Conscious' in the previous line, refers to how one may dream while awake, yet no outsider may become involved in the dream. A dream world is not necessarily a bad place to dwell, and is only perceived as being bad because not everyone can freely enter its walls. Moreover, the walls are unique to each dreamer, therefore, are transparent. This uniqueness is shown in the short stories I am focusing on. For Durrell, the walls were as white as snow, and for Gilman they are covered in crude yellow wallpaper. When reading these stories, it is easy for one to become confused. It is difficult for the reader to understand exactly what is trying to be said, because these stories are so personal. Durrell and Gilman attempt to give some form of insight into their characters minds, but we as readers are restricted by our thoughts. How can we conceive another's dream world? It is possible only through an open mind; one must not think that the author is talking about nonsense, for this way of thinking proves the success society has in grooming our thoughts to fit within its standards. In "Zero and Asylum in the Snow," we are introduced to a character that seems to be rambling to some unknown person about nonsensical illusions of snow, farmyards, Christianity, and five other existing characters. As one progresses through the story, one realizes that the snow Durrell writes of is everywhere. It surrounds the character, which is later revealed to be Durrell himself, and "chimes about [them] and [he] can do nothing, nothing.

Foreigh Currency Risk Test

FOREIGN CURRENCY RISKQ1. Jack is a UK based car exporter who exports luxury cars and has a competitor in Germany; he has recently seen a change in foreign currency that pound ( £) of UK has strengthened against euro (â‚ ¬) of Germany. What is the type of risk does Jack face in his business? (MCQ) Credit Risk Translation Risk Economic Risk Transaction Risk(2 marks) Q2. Yarn Co is multinational business & wants its foreign subsidiary financial statements. They are making exchange losses when the accounting results of its foreign subsidiary are translated into the home currency. Which type of currency risk does Yarn Co face? (MCQ) Netting off Risk Translation Risk Economic Risk Hedging Risk(2 marks) Q3. Saito Co, a USA based fish exporter has competition with Sakkara Co based in Bangladesh. He believes he faces an economic risk in the business. What type of impact does it have on Saito Co? (MCQ) Direct Impact Indirect Impact Political Impact Economic Impact(2 marks) Q4. The current spot rate of UK ( £) to USA ($) is  £3:$1.5. The interest rates per annum are UK 5% & USA 9%. What will be the two-month forward rate (to the nearest two decimal places)? (FIB) £ :$1(2 marks) Q5. The current spot rate of UK ( £) is  £3. The inflation rate per annum of UK is 3% & the expected future six-month spot rate is  £3.06. Calculate the foreign annual inflation rate? (FIB)%(2 marks) Q6. Which of the following statements relates to International Fisher Effect? (MCQ) The exchange rates of countries depending on inflation rates The exchange rates of countries depending on interest rates Prices are same to different customers in an economy Nominal interest rate differentials between countries provide an unbiased predictor of future changes in spot exchange rates.(2 marks) Q7. Which of the following differences will result in an Expectation Theory? (MRQ) The difference in Inflation Rates Difference between Spot & Forward Rates The difference of Interest Rates Difference between Spot & Future Rates(2 marks) Q8. Select the appropriate theory with the following statements. (P&D)Depreciation of forwarding rates will be due to high-interest rates Differences in nominal rates due inflation rates A commodity is priced same in every country The forward rate is a fair predictor of the spot rate in the future EXPECTATION THEORY PURCHASING POWER PARITYTHEORY INTERNATIONAL FISHER EFFECT INTEREST RATE PARITY THEORY(2 marks)Q9. Patio Co. operates in the USA. They will be receiving a payment of  £2,500 from customers in four months' time. Calculate Patio Co.'s receipts in four months' time? Use the following rates. (MCQ)Spot Rate  £1.4/$ –  £1.6/$4 Month Forward Rate  £1.8/$ –  £2.0/$ $1,786 $1,563 $1,389 $1,250(2 marks) Q10. Fray Co is a USA based company ; imports Robots from China. The usual credit period is three months. Fray Co has to pay  ¥60,000. Calculate the loss/gain of the payment on forwarding contract? (MCQ)Spot Rate  ¥1.321/$ –  ¥1.521/$3 Month Forward Rate  ¥1.654/$ –  ¥1.854/$ $7,085 (Loss) $9,144 (Loss) $9,144 (Gain) $7,085 (Gain)(2 marks) Q11. PXG Co, a UK based company has made $3,600 sale to its USA customer on credit. The current  £/$ exchange rate is  £6.4/$12.8. It is expected that UK  £ will strengthen by 15%, by the time USA customer pays. Calculate the receipts in  £? (MCQ)  £244.57  £281.25  £489.13  £562.5(2 marks) Q12. The dollar is quoted at a $0.067 premium for the forward rate. The current exchange rate is $/ ¥ 1.0005 +/- 0.0045. What will a $4,900 payment convert at forwarding rate? (MCQ)  ¥4,876  ¥4,920  ¥5,224  ¥5,274(2 marks) Q13. A UK based company Bib Co will receive a foreign payment of $2,000 in four months' time. The spot rate is $1.1/ £ – $1.4/ £. Calculate the income in four months' time using money market hedging? (MCQ) Borrow DepositDollar ($) 4% 5%Pounds ( £) 3% 2%  £1,414.4  £1,419.4  £1,800  £1,807(2 marks)This information is used for Q14, Q15 ; Q14.A USA based company has to make a payment of  £95,000 in nine months' time. The spot rate is  £2.2/$ –  £2.5/$. Following details are: Borrow DepositDollar ($) 7% 5%Pounds ( £) 5% 3%Q14. Calculate the foreign payment using money market hedging? (MCQ) $37,164 $42,232 $43,816 $44,449(2 marks) Q15. Calculate the foreign payment if the nine-month forward rate is  £2.37/$ –  £2.71/$? (FIB)$ (2 marks) Q16. Calculate the gain/loss for the company for not leading the payment? (MCQ) $4,365 (Gain) $4,365 (Loss) $3,816 (Loss) $3,816 (Gain)(2 marks) Q17. Following statements relate to Forwarding contracts. (HA)An immediate binding contract TRUE FALSEThe forward rate is variable in nature TRUE FALSEThe timing of the contract is unknown TRUE FALSE(2 marks) Q18. A company wants to reduce its transaction risks when conducting business with foreign receivables/payables. Following statements are said by the directors during this years' AGM. Select the appropriate statements to reduce the risk. (MRQ) â€Å"The company should hold back its payments for few months†, this technique is Leading â€Å"The company should continue as normal† â€Å"I have some friends offshore who work in a bank, I may able to arrange a foreign account for the company† said by a director â€Å"The company should deal in the foreign currency only† (2 marks) Q19. Juab Co is a manufacturing company ; has a foreign supplier who supplies raw materials. Recently the supplier has now become a customer as well, who purchases Juab Co.'s finished products and sells in his respective country. Which technique of reducing risk is applicable for Juab Co? (MCQ) Money market contract Leading & Lagging Forward market hedging Matching & Netting(2 marks) Q20. Which of the following statements are true in relation to futures? (MRQ) Currency futures are standard contracts A high premium is paid initially Futures are available in all currencies offered by the bank Future contracts are binding (2 marks) Q21. A company wants to hedge itself from any currency risk. They have decided to hedge themselves using currency futures. They have to make a payment in May of $36,000. The futures have a contract size of $15,000. Which of the following futures will they select? (MCQ) Buy three futures on March Sell two futures of March Buy two futures of June Buy three futures of September(2 marks) Q22. Select the appropriate option in relation to futures. (HA) Transaction cost is lowest ADVANTAGE DISADVANTAGEContracts are limited to some currencies ADVANTAGE DISADVANTAGEThe exact date does not have to be known ADVANTAGE DISADVANTAGE(2 marks) Q23. Picots Co is UK based company which has a lot of foreign customers. It will be receiving a payment from USA based customer of $500,000 in five months. The company has been advised to use derivatives to hedge themselves against any currency risk. If they opt for currency options which of the following are correct? (MCQ) Buying a USA $ call option in the UK Buying a USA $ put option in the UK Buying a UK  £ call option in the USA Buying a UK  £ put option in the USA (2 marks) Q24. Which of the following statements relate to currency options? (MRQ) In future the market becomes favorable and the company will face a loss because it is bound to the contract They are negotiated Cannot be traded in all currencies Easily arranged & Flexible (2 marks) Q25. Which of the following is incorrect for swaps? (MCQ) It is negotiated between two parties having their own spot rate It has a nominal cost It is an over the counter deal It has multiple markets (2 marks) Q26. Which of the following has a refundable cost? (MCQ) Currency Futures Forward Contracts Currency Options Currency Swaps(2 marks)FOREIGN CURRENCY RISK (ANSWERS)Q1. CEconomic risk is the variation in the value of the business due to unexpected changes in exchange rates. This is an indirect impact on Jacks business. Q2. BThey are making exchange losses when the accounting results of its foreign subsidiary are translated into the home currency. This is an indication of Translation Risk. Q3. AIt is a direct impact on Saito Co as the USA being home currency strengthens then foreign competitors Sakkara Co in Bangladesh is able to gain sales at your expense because your fish have become more expensive in the eyes of customers both abroad and at home. Q4.  £3.02Interest rate parity theory = 3 Ãâ€" (1+(9% Ãâ€" 2/12))/(1+(5% Ãâ€"2/12)) =  £3.02 Q5. 7%Purchasing power parity theory = 3 Ãâ€" (1+(x% Ãâ€" 6/12))/(1+(3% Ãâ€"6/12)) =  £3.06X% = 7% Q6. D The exchange rates of countries depending on inflation rates (Purchasing Power Parity Theory) The exchange rates of countries depending on interest rates (Interest Rate Parity Theory) Prices are same to different customers in an economy. The law of one price. (Purchasing Power Parity Theory) Nominal interest rate differentials between countries provide an unbiased predictor of future changes in spot exchange rates. (International Fisher Effect) Q7. When these two will become equal, Expectation Theory arises. Difference between Spot & Forward Rates Difference between Spot & Future Rates Q8.Depreciation of forwarding rates will be due to high-interest ratesINTEREST RATE PARITY THEORYDifferences in nominal rates due to inflation rates INTERNATIONAL FISHER EFFECTA commodity is priced same in every country PURCHASING POWER PARITY THEORY The forward rate is a fair predictor of the spot rate in the future EXPECTATION THEORY Q9. DReceipts =  £2,500 à · 2.0 = $1,250 Q10.Payment (Forward) =  ¥60,000 à · 1.654 = $36,276Payment (Spot) =  ¥60,000 à · 1.321 = $45,420Gain = $9,144 Q11. AFuture Rate = $12.8 Ãâ€" 115% = $14.72Receipts =  £3,600 à · 14.72 = $244.57 Q12. DThe Spot rate = $0.996/ ¥ – $1.005/ ¥ -/+ 0.0045The dollar is at a premium so subtract it as if dollar strengthens then yen will weaken in the forwards market. The new Spot rate = $0.929/ ¥ – $0.938/ ¥ – 0.067Payment = $4,900 à · 0.929 =  ¥5,274 Q13. BBorrow Foreign Currency = $2,000 à · [1 + (4% Ãâ€" 4/12)] = $1,974Convert Foreign to Local = $1,974 à · 1.4 =  £1,410Deposit (Interest) = (1,410 Ãâ€" 2% Ãâ€" 4/12) =  £9.4Total Receipts =  £1,410 +  £9.4 =  £1,419.4 Q14. DDeposit Foreign Currency =  £95,000 à · [1 + (3% Ãâ€" 9/12)] =  £92,910Convert Foreign to Local =  £92,910 à · 2.2 = $42,232Deposit (Interest) = ($42,232 Ãâ€" 7% Ãâ€" 9/12) = $2,217Total Payments = $42,232 + $2,217 = $44,449 Q15. $40,084Payments =  £95,000 à · 2.37 = $40,084 Q16. B Q17. An immediate binding contract TRUE The forward rate is variable in nature FALSEThe timing of the contract is unknown FALSE Q18. â€Å"The company should hold back its payments for few months†, this technique is Lagging (Incorrect) â€Å"The company should continue as normal† This refers the company should take no action (Correct) â€Å"I have some friends offshore who work in a bank, I may able to arrange a foreign account for the company† said by a director. This statement indicates opening a foreign bank account. (Correct) â€Å"The company should deal in the foreign currency only† The company could deal in home currency rather in foreign currency (Incorrect) Q19. DThis technique attempts to match the same foreign currency receipt & payments due at the same time. The netting of the intra debit & credit balances saving transaction cost & reducing risk. Q20. Currency futures are standard contracts, fixed limits specified (True) A high premium is paid initially, this is applicable in options (False) Futures are available in all currencies offered by the bank, Only in few currencies (False) Future contracts are binding, they have to be closed (True) Q21. CThe Futures can be bought or sold only four times a year which are March, June, September & December. Future contracts can be signed relating to a month after the date of receipt. They will buy two futures each of $15,000 and the remaining $6,000 can be hedged using other techniques. (E.g. forward contracts)Q22. Transaction cost is lowest ADVANTAGEContracts are limited to some currenciesDISADVANTAGEThe exact date does not have to be knownADVANTAGE Q23. BPicots Co will want to sell the USA $ when they receive the payment which is why they will use USA $ put (sell) option bought in the UK. Q24. In future the market becomes favorable and the company will face a loss because it is bound to the contract, this statement relates to future contracts They are negotiated, this statement relates to options (Correct) Cannot be traded in all currencies, it is a disadvantage hence this statement relates to options (Correct) Easily arranged & Flexible, this statement relates to swaps Q25. DIt has no markets; it is a tailor-made an agreement between two parties.Q26. A Currency Futures, An initial margin cost which is refundable Forward Contracts, has a transaction cost Currency Options, A non-refundable premium cost Currency Swaps, No initial cost

Barbara Hepworth – presentation

Good morning, I know some you are taking the â€Å"british art† course this year, so I think it could be interesting if I give a brief account of Barbara Hepworthà ¯Ã‚ ¿Ã‚ ½s work and experiences. For those of you who are not taking that subject it may be a way of familiarising yourselves with abstract art coming from Great Britain. Before going straight into the subject, Ià ¯Ã‚ ¿Ã‚ ½d like you to get rid of any prejudices you may have against abstract art and just let yourselves to be carried along by what Ià ¯Ã‚ ¿Ã‚ ½m going to say and show. First of all, I can see in your faces youà ¯Ã‚ ¿Ã‚ ½re thinking â€Å"Whoà ¯Ã‚ ¿Ã‚ ½s that Barbara Hepworth sheà ¯Ã‚ ¿Ã‚ ½s talking about? Well, She is one of the most important abstract scuptors in Britain. What Ià ¯Ã‚ ¿Ã‚ ½m trying to do here this morning is to show you in what way her experiences in life changed her work. As you see this is Barbara Hepworth when she was only two years old. It is relevant the way she perceived nature from her very infancy. In this statement you can see it clearly. She says â€Å"All my early memories are of forms, shapes and textures†, so she identifies nature with sculture. The last line is also remarkable as Barbara Hepworth is establishing a relationship between nature and the sculptor. One of the most important experiences who contributed to change her work is the visit she paid to Italy when she had become a sculptor herself. In this country she found two of her main preocupations: light and the grouping of people. The importance of light in relation to form will always interest her. Her second preocupation emerged in Venice. There, she realized that when people entered Saint Mark square, they walked in a different way and tended to group themselves because of the enormous proportion of the square and the cathedral. These two preocupations, those of light and the grouping of people will change her style. In this slide you can see her with one of her children. Barbara recognizes that with the birth of her first child her work developed notoriously. In her Autobiography, that I recommend you, the artist critizises those who thought a woman cannot be an artist and mother at the same time. What is more, she believes her work changed because of her children been, during several years, more formal, avoiding any trace of naturalism. You can see the resault in this sculpure. If we carry on the course of her life, we can find another turning point in her career when she first met Arp, one of the leaders of dadaism. By seeing his work, Barbara freed herself from many inhibitions and regarded the ralion between form and landscape with new eyes. In the decade of the 30à ¯Ã‚ ¿Ã‚ ½s, abstract art became quite famous in Britain because of Barbara and her husband, Ben Nicholson. They were in contact with some important artists from the continent, such as gabo or Mondrian. Here you can see her with Gabo and his wife. This contact originated new preocupations for Barbara. One of them was the quality of the materials she used in her scuptures. She wanted to do something of a piece of marble, for example, but in order to achieve it she had to discover what the block of marble wanted. In this period she is also interested in the hollowed form as you can see in many of her works. She pierced the scuptures to create a more profound relationship between human beings and nature through sculpture. It is in these years that she analyses the role of the sculptor. She also reflects about her hands. Barbara Hepworth thinks her left hand is her thinking hand while her right hand is the working one. As a result of the threatening of the 2nd world war, many european artists came to England and joined the group of Barbara and Ben Nicholson in St. Ives, establishing the foundations of Constructivism, one of the most important vanguardist movements. During these last years of the decade Barbara Hepworth devoted herself to curved and stringed carvings which symbolised, once again, a sense of identification with nature. After this period her scultures will evoque the idea of enclosure or embrace. In order to achive it she uses several kinds of forms which are: the standing figure, the two figures, that represent the relationship between one human being and another, and the spherical or oval form. Her work will change again in the 40à ¯Ã‚ ¿Ã‚ ½s, a decade she dedicates to monumental and enormous figures made of metal. This is Barbara Hepworth when she was nearly and old lady. In her last years she comes back to the formal style that characterized her work during the decade of the 30à ¯Ã‚ ¿Ã‚ ½s. Unfortunately, she passed away in 1975. She used to drink and smoke a lot, so one day she didnà ¯Ã‚ ¿Ã‚ ½t extinguish the butt of a cigarrete and it a caused a fire that killed her. In conclusion, I can say Barbara Hepworth was one of the most important artists of her time and her success depends a great deal on her experience in life. I hope you take a full advantage of my presentation. Anyway, if youà ¯Ã‚ ¿Ã‚ ½ve got any comments or questions you are welcomed. Thank you very much. * Introduction: Good morning, I know some of you†¦.. Get rid of any prejudices / let yourselves get involved. * Body: First of all: Who is Barbara Hepworth. What Ià ¯Ã‚ ¿Ã‚ ½m trying : in what way her experiences change her work. Slide of her 2 years old : relevant because from her infancy aware of forms. Slide of statement. (last line remarkable). Italy: preoccupations: light and grouping of people. Slides of Venice. Slides of child (2) Her children: developed her work, autobiography she critizises, her work more formal avoiding any trace of naturalism Slide of formal scupture. If we follow the course of her life another turning point: Arp: (leader of dadaism) freed herself from many inhibitions and regarded the relationship bet figure and nature with new eyes. In the decade of the 30à ¯Ã‚ ¿Ã‚ ½s abstract art famous in GB because of her and her husband. Slide of BH and her husband. They were in contact with artists from continent. (Gabo, Mondrian). Slide of her with Gabo. This contact originated new preoccupatiosns: qualitiy of materials, hollowed form. She pierced scultures to create a more profound relation bet human beings and nature. Slide of pierced figure. It is in these years: analyses the role of artist and reflects about her hands. Slides of hands (2). As a result of the threatening of the 2nd w.w. many artist came and joined her group in St Ives. Slides of her studio in St. Ives (2). There they established the foundations of Constructuvism, one of the most imp vanguardist movements. During these last years of the decade, BH devoted herself to the curved and stringed carving, a sense of identifiation with nature. Slide of stringed sculpture. After this period her sculptures will evoque the idea of enclosure or embrace by using several kinds of forms: standing form, two forms and oval or spherical form. Slide of standing figure. Slide of spherical figure. 40à ¯Ã‚ ¿Ã‚ ½s her work changes again: enormous figures made of metal. Slides of enormous figures (3). Slides of her old (2) In her last years she came back to the formal style of the 30à ¯Ã‚ ¿Ã‚ ½s. She passed away in 1975: she used to drink etc. * Conclusion: As a conclusion we can say she was 1 of the + imp artists of her time, and her success depends a great deal on her experience in life. I hope you have taken full advantage of my presentation. If you have any comments or questions you are welcome.