Geographical Pressures to Deviate from Franchise Formats

Introduction Background to the study Cox and Masson (2007, p.1054) define franchising as ‘contractual business relationships involving the franchisor and the franchisee, which operate as legally independent business entities’. Through such relationships, franchisees have the legal right to use the franchisors’ business name, products and services, blueprint, or specialised aspects in their trading process.Advertising We will write a custom proposal sample on Geographical Pressures to Deviate from Franchise Formats specifically for you for only $16.05 $11/page Learn More Cox and Masson (2007, p.1055) add that the ‘franchisor offers the franchisee the necessary support systems necessary to establish the business’. By 2010, the presence of franchises was evident in approximately 75% of all countries in the world (Truitt 2006). Subsequently, franchises have significantly contributed to the economic growth of the global econom y by stimulating the retail sector, creation of employment, and contribution to country’s Gross Domestic Product (GDP) (Stanworth, Stanworth, Watson, Purdy, Heleas 2004). Therefore, franchising is a proven business concept. Many investors are of the opinion that adopting the franchise format can improve the effectiveness with which an organisation maximises its profit as opposed to independent start-ups. The concept of franchising business has experienced significant challenges in different parts of the world. For example, the number of franchises declined from 1100 to 1025 during the period ranging between 2008 and 2010 (Buchan 2013). Despite this aspect, a report by the Franchise Council of Australia indicates that the franchise format has played a remarkable role in the growth of small businesses in the country (Buchan 2013). Problem statement Despite the contribution of franchising in promoting businesses’ capability to achieve high profitability, this business fo rmat has come under intense criticism due to its standardisation concept. Previous franchising literature has cited the level of autonomy and independence associated with franchising as major concerns. Tuunanen and Hyrsky (2001) argue that standardisation is one of the key components of franchising. This assertion means that business format franchising is based on the model of ‘cloning’, whereby a business deals with standardised products and services. Therefore, the products are sold under similar trademark or trade name.Advertising Looking for proposal on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Under the concept of standardisation, the franchisee is required to adhere to the operational parameters set by the franchisor (Hoy Stanworth 2014). Some of the standards include trademark, suppliers of inputs, promotion methods, the nature of the product, and the trademarks to be adopted. Consequently, acco rding to Fock (2001, p.173), the ‘franchisees are not given the opportunity to incorporate their own initiative in the operation of the franchise’. For example, the franchisor cannot make decision on diverse operating procedures such as operating hours, pricing, hiring of employees, and business location. Failure to comply with the contractual agreement is a major source of conflict between the franchisee and the franchisor. For example, the contract may require the franchisee to pay the franchisor based on sales revenue. This aspect might pose a challenge to the franchisees in their quest to maximise their profits, especially if the geographical area in which they operate is characterised by minimal growth. Such geographical limitations may pressurize franchisee to diverge from the set operational standards. Cox and Masson (2007, p.1054) assert that geographical dispersion ‘exposes the chain to varied local market conditions that require adaptation to maximise pe rformance’. Adopting uniform operating procedures and standards such as franchising is an ineffective strategy in some geographical locations in businesses’ effort to maximise their sales revenue and net income. Subsequently, franchising is experiencing a challenge arising from the franchisors’ demand to comply with the concept of standardisation and the franchisees need to adapt their business operations in accordance with the geographical market needs (Levy Weitz 2007). Rationale of the study Franchising has gained significance in the global business environment. Subsequently, most entrepreneurs and practising managers are inclining towards integrating the concept of franchising in their strategic management processes. The prominence of the franchising business format has arisen from the recognition of its role in stimulating business growth.Advertising We will write a custom proposal sample on Geographical Pressures to Deviate from Franchise Formats spe cifically for you for only $16.05 $11/page Learn More However, entrepreneurs and business managers have an obligation to ensure that firms achieve their profit maximisation. This goal can only be achieved if the most effective business format is adopted. However, the concept of franchising has some gaps emanating from its overemphasis of the concept of standardisation as its cornerstone. Research aims and objectives The study aims at developing a comprehensive understanding on the importance of understanding the standardisation and adaptation concepts of franchising. In a bid to achieve this aim, the researcher will follow a number of objectives, which include To assess how geographical factors affect the implementation of franchising business format. To analyse the extent to which franchisors allow franchisees to adapt to the prevailing environmental conditions. To evaluate the franchisees integrate the concept of adaptation in their effort to carry out th e franchising system. Research questions A number of research questions based on the research objectives will guide the study. The research questions are outlined below. What is the impact of geographical factors affecting the implementation of franchising business format? To what degree do franchisors allow franchisees to adapt their businesses to the prevailing environmental conditions? How does a franchisee integrate the concept of adaptation in their effort to establish the franchising system? Significance of the study This study will be of great significance to practising managers and academicians. For example, the study will provide business managers and entrepreneurs with insight on the challenges associated with the standardisation concept of franchising especially in business operating in diverse geographical areas. Subsequently, business managers will be in a position to make a decision on whether to adopt standardisation or adaptation in their effort to achieve profit maximisation. Furthermore, the study will enable academicians to appreciate the gap associated with the concept of franchising in their review of the subject. Research hypothesis This study will aim at verifying the null hypothesis (H0) or refuting the alternate (H1) hypothesis, which include Null hypothesis H0 – Geographical pressures have a significant impact on franchisees decision to deviate from the standardisation concept of franchising and adapt to the prevailing environmental conditions. Alternate hypothesis H1 – Geographical pressures do not have an impact on franchisees decision to deviate from standardisation and adapting to the prevailing environmental conditions. Literature review Franchising Entrepreneurs must make a decision on the legal structure that they will adopt in the course of establishing their business. Truitt (2006) argues that the format selected has significant tax, regulatory, legal, and business consequences. The choice of business forma t is determined by different factors such as capital requirements, liability risk involved, tax, and marketing requirements (Sorenson Sorensen 2001).Advertising Looking for proposal on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Some business structures are characterised by high capital requirements, liability risk, and marketing requirements (Croonen Brand 2012). The main types of business format in much legislation include partnerships, sole proprietorships, limited liability companies, and franchises. Buchan (2013, p.3) emphasises that franchising ‘has become a significant part of the global commercial landscape’. Components of franchising formats Dada (2013) asserts that the franchise business format is comprised of four main components, which include the nature of the product or service, format facilitators, system identifiers, and benefit communicators. Franchises specialise in offering customers unique products or service, which acts as its competitive niche. On the other hand, benefit communicators refer to the intangible benefits associated with the product or service being offered. Examples of such benefits include high level of professionalism in the service delivery process and rel iability. Format facilitators refer to the procedures and policies that should be followed by the franchisee, while system identifiers refer to the visual elements that associate a firm or product to a particular chain, for example trademarks, uniforms and architectural features (Yudoko 2012). Franchising; standardisation versus adaptation Cox (2002) argues that standardisation is the foundation of franchising due to its contribution in the franchisees and franchisors’ efforts to achieve its cost minimisation objective. For example, standardisation minimises the cost incurred in monitoring the franchisee. Moreover, standardisation allows businesses to develop and maintain a unique brand image amongst its customers (Michael 2002). Subsequently, an organisation nurtures a high degree of customer loyalty arising from trusting in the uniformity of the product’s quality across outlets in different locations. Therefore, standardisation in franchising enables entrepreneurs to sustain the unique customer experience. Longenecker (2012) asserts that the franchisees’ efforts to deviate from the set standards by adapting their own operational procedures may lead to erosion of the benefits associated with franchising, for example due to a decline in product quality and loss of the brand image (Rundh 2003). Furthermore, critics argue that adaptation in franchising format may influence the franchisees’ ability to innovate adversely (Chary 2009). This assertion arises from the view that the franchisee might not have sufficient knowledge to innovate the product or service offered in order to fit the geographical needs (Stanworth, Healeas Purdy 2002). Cox and Masson (2007, p.1056) argue that adapting ‘to local conditions reduces the potential for cross-fertilisation of ideas for identifying and implementing new offerings’. Despite the significance of standardisation, Megan (2010) argues that franchises operate in diverse geographical ar eas, which are characterised by different factors such as intensity of competition, customer tastes, and preferences. Therefore, the effectiveness of standardisation amongst franchisees operating in geographically diverse area is limited. Michael (2000) argues that franchisees have substantial knowledge of their local geographical market compared to the franchisor. Consequently, the likelihood of succeeding in their innovation effort is high (Michael 2003). Despite their commitment to standardisation, franchisors depend on the market knowledge and information gathered by franchisees in undertaking product or system innovation (Ryans, Grittith While 2003). However, the need to maintain a strong brand image restricts franchisees from adapting their operations to the local market situation (Pizanti Lerner 2003). From the above review, a significant gap needs to be addressed on whether franchisors should give franchisees the opportunity to deviate from the set operational standards an d procedures and adapting their operations to the prevailing market situations. Through adaptation, there is a high probability of franchising business formats gaining better significance compared to the prevailing situation. Methodology Research design The purpose of this study is to explore the decision of franchisees to incorporate the standardisation versus the adaptation strategies in their operation. The study will adopt qualitative research design. The decision to adopt this research design is informed by the exploratory nature of the study. Moreover, qualitative research design will provide the researcher with an opportunity to gather substantial amount of data to aid in making extensive and conclusive research findings. Maxwell (2005) further asserts that qualitative research design is a multi-method research strategy, which is interpretive in nature. Subsequently, the study will be of great significance to the target audience. Data collection The researcher will source dat a from secondary sources. The researcher will review previous studies and literature on standardisation and adaptation amongst franchises. Some of the main secondary sources of data that the researcher will consider include reports peer-reviewed journals and other literature. Numerous studies on franchising have been conducted previously. Therefore, the use of secondary sources will provide the researcher with an opportunity to gather substantial data. However, the researcher will ensure that the secondary data selected is from credible sources. This move will improve the reliability of the data collected. Data analysis and presentation The data gathered will be analysed using Microsoft Excel, which will enable the researcher to condense the voluminous data collected. Creswell (2003) asserts that qualitative research design enables a researcher to gather diverse data. Evaluating the data collected can overwhelm the researcher if it is not condensed effectively. By using Microsoft Ex cel, the researcher will be in a position to condense the data successfully by incorporating tables, graphs, range, and graphs. Subsequently, the researcher will assess different aspects associated with the subject under investigation. Furthermore, using Microsoft Excel will provide the researcher with an opportunity to present the data effectively using graphs. Subsequently, the target audience will be in a position to understand the research findings easily. Reference List Buchan, J 2013, Franchisees as consumers; benchmarks, perspectives and  consequences, Springer, New York. Chary, S 2009, Production and operations management, Tata McGraw, New Delhi. Cox, J 2002, Geographical dimensions of business format franchising, University of Southampton, Southampton. Cox, J Masson, C 2007, ‘Standardisation versus adaptation; geographical pressures to deviate from franchise formats’, The Service Industries Journal, vol. 27 no. 8, pp. 1053-1072. Creswell, J 2003, Research de sign: qualitative, quantitative and mixed method  Approaches, Sage Publications, New York. Croonen, E Brand, M 2012, ‘Antecedents of franchisee responses to franchisor initiated strategic change’, International Small Business Journal, vol. 69 no. 172, pp.114-126. Dada, O 2013, ‘Entrepreneurial organisation and the franchise system; Organisational antecedents and performance outcomes’, European Journal of  Marketing, vol. 47 no. 5, pp. 790-812. Fock, H 2001, ‘Retail outlet location decision-maker: franchisor or franchisee’, Marketing Intelligence and Planning, vol. 19 no. 3, pp. 171-178. Hoy, F Stanworth, J 2014, Franchising; an international perspective, Routledge, New York. Levy, M Weitz, B 2007, Retailing management, McGraw-Hill, New York. Longenecker, J 2012, Small business management; launching and growing entrepreneurial ventures, Cengage Learning, Mason. Maxwell, J 2005, Qualitative research design: an interactive approach, Sage Pu blication, New Jersey. Megan, T 2010, ‘A framework for implementing retail franchises internationally’,  Marketing Intelligence Planning, vol. 28 no. 6, pp. 689-705. Michael, S 2000, ‘Investments to create bargaining power: the case of franchising’,  Strategic Management Journal, vol.21, pp. 497-514. Michael, S 2002, ‘Can a franchise chain coordinate’, Journal of Business Venturing, vol. 17, pp. 325-341. Michael, S 2003, ‘First mover advantage through franchising’, Journal of Business  Venturing, vol.18, pp. 61-80. Pizanti, I Lerner, M 2003, ‘Examining control and autonomy in the franchisor franchisee relationship’, International Small Business Journal, vol. 21 no. 2, pp.131- 38. Rundh, B 2003, ‘Rethinking the international marketing strategy; new dimensions in a competitive market,’ Marketing Intelligence Planning, vol. 21 no. 4, pp. 249-257. Ryans, J, Grittith, D While, D 2003, ‘Standardi sation versus adaptation of International marketing strategy; necessary conditions for advancements’,  International Marketing Review, vol. 20 no. 6, pp. 588-603. Sorenson, O Sorensen, J 2001, ‘Finding the right mix: franchising, organisational learning and chain performance’, Strategic Management Journal, vol. 22 no.16, pp. 713-724. Stanworth, J, Healeas, S Purdy, D 2002, ‘Intellectual capital acquisition and knowledge management – new perspectives on franchising as a small business growth strategy’, ISBA National Small Firms Policy and Research Conference  Proceedings, vol. 2 no.5, pp. 1507-1534. Stanworth, J, Stanworth, C, Watson, A, Purdy, D Heleas, S 2004, ‘Franchising as a small business growth strategy: a resource-based view of organisational development’, International Small Business Journal, vol. 22 no.3, pp. 539-559. Truitt, W 2006, The corporation, Greenwood Press, Westport. Tuunanen, M Hyrsky, K 2001, ‘En trepreneurial paradoxes in business format franchising: an empirical survey of Finnish franchisees’, International Small Business  Journal, vol. 19 no. 4, pp. 47-62. Yudoko, G 2012, Sustainable operations strategy; a conceptual framework, ICTOM, Bandung. This proposal on Geographical Pressures to Deviate from Franchise Formats was written and submitted by user Cailyn Lee to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

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HM Supply Chain and Logistics Management Strategies

HM Supply Chain and Logistics Management Strategies Introduction Hennes Mauritz AB, abbreviated to HM, a Sweden-based global fashion retail company, was established in 1947, serving a business concept of offering good-quality product with the best price along with making sustainability (HM, 2014a). HM is the world second largest fashion retailer. In 2013, HM has opened 356 new stores and expanded into five new markets: Chile, Indonesia, Serbia, Lithuania and Estonia (Passport, 2014). HM is a pioneer of ‘fast fashion’ which inspired by the trendy catwalk fashion and transformed them into affordable fashion frequently. Rather than being followers, it perceives the bid of consumer-lead (Passport, 2014). HM manages its brand with a combination of Uniqlo’s and ZARA’s marketing strategies, which are using long product development cycles and building efficient supply chain (Petro, 2012). This report will critically evaluate the supply chain and logistics management strategies of HM. Which markets have been targeted and why? Demographically, HM aims to target younger age groups, especially those who aged 18 to 30 and are sensitive to the latest fashion and trend. HM fundamentally advocates for offering quality products with the unbeatable value and a high frequency of launching new products (HM, 2014a). It has divided its customers based into two distinct groups which are practical customers and trendy customers. The former requires basic and comfortable garments while the latter seeks for fashionable and sartorial products. The number of â€Å"global middle class† will expected to expand to 4.9 billion by 2030, compared to 1.8 billion in 2009, significantly contributing by Asia (Pezzini, 2012). The upsurge of the middle class in Asian countries are believed to be sufficient to cope up with the impetus for world demand (Kharas, 2010). Kharas (2010) also stated that the rebound of consumer demand would depend not only on USA, but also Asian countries, especially China and India. Therefore, geographically, HM not only targets at the Western Europe, where generated almost 71% of revenues in 2013, but also widely targets at USA and Asia Pacific (Passport, 2014). Figure 1.1 indicated that there is significant increase sales in both North America and Asia Pacific. What has been Zara’s approach to Supply Chain Management? HM employs 160 in-house designers who officially work together with pattern makers and print designers to create HM a wide variety of products. They strive to find the right balance among fashion, quality and best price as well as involving sustainability awareness. Although HM collection are centrally planned, it does not own any factories instead of outsourcing from 800 independent suppliers, approximately 40% in Europe and 60% in Asia (Petro, 2012). In addition, HM has set up 21 production office outside Sweden, 50% of them are based in Asia and 50% of them are based in Europe (Tokatli, 2008). Due to geographic and lead time priorities, HM still persists in choosing Europe as production countries rather than China (Goransson et al, 2007). HM develops a long-term partnership and works closely with these suppliers to ensure its product quality. These suppliers are examined and evaluated twice a year to determine their performance and keep maintain good communication in order to respond to changeable demand (Siegle, 2013). Moreover, HM requires all its suppliers, subcontractor and business partners to sign the Code of Conduct which is implemented in every aspects of the organisation. Full commitment with the Code must be fulfilled throughout the supply chain. HM seldom works with middlemen. It strategically works with its production offices that are closely located to its suppliers and served as the second hub of information flow. From choosing suppliers, handling production process, reviewing sample to checking quality, HM can maximise its efficiency to be more responsive to customers demand. HM basically launches two seasonal collections each year, producing approximately 2000-4000 items on average (Tokatli, 2008). Sub-collections have also been offered within each season in order to continually update its inventory. Usually, the main collection would be long-lead time items whereas the sub-collection would be short-lead time items (Petro, 2012). HM will produce 80% of its products in advance (Cha, 2013) and the lead time of producing the remaining 20% may vary, generally from two weeks to six months (Saini, 2007). HM also develops its production plan six to twelve months in advance, coordinating with the purchasing process accordingly. This planning system helps to achieve its belief in exceeding customer expectations and contributing sustainable work in the supply chain. The process from designing products to retailing takes only 20 days to complete (Saminather, 2007). HM has developed an IT system which connected each store with corporate logistics, procurement systems and the central warehouse (Petro, 2012). This system enables the visibility of the entire process to every departments that involved. As a result, a more securable and effective management can be applied across all channels. What market entry strategies have been adopted and why? How do HM manage their marketing channels? Its expansion target is to open 10%-15% new stores per year and this can be implemented by its marketing strategy that is increasing like-for-like sales (Passport, 2014). In spite of reporting that HM like-for-like sales figures have been declined for five consecutive months, it still plans to open 350 new stores in 2014 (Milne, 2013). Despite the concern that excessive store numbers could affect HM’s cachet, but the rapid growth of consumer demand is highly enough to support its expansion (Passport, 2014). In fact, HM has 3511 stores across 55 countries in 2014, compared to 3132 stores across 53 countries in 2013 (HM, 2014a), accounting for 379 additional stores. HM’s expansion strategy in emerging markets is through establishing wholly-owned subsidiaries in order to maintain its direct operational control (HM, 2014a). All HM stores are run by HM, therefore, franchising would not be its favourable method. Nevertheless, some excepted markets necessarily need collaboration via franchising. For instant, HM reached a franchise agreement with Kuwait-based company, M.H. Alshaya to expand market in the Middle East. This partnership ensures a great success in bringing HM’s spirit to a new market. Joint venture can be considered as a dominant option for multinational enterprise (MNE) to discover emerging markets (Zhou and Xu, 2012). HM adopted a 51:49 joint venture with Mumbai-based firm Tata Group. This allows HM to better understand the know-how of local market before accessing to foreign markets, meanwhile, the Indian government regulates 100% foreign direct investment (FDI) in single brand retailing, unleashing market liberalisation (Passport, 2014). These two opportunities inevitably assist HM to enter Indian market. It aims to invest â‚ ¬100 million for opening 50 stores in India, focusing not only in major cities such as New Delhi and Mumbai, but also other cities like Ahmedabad and Jaipur (Passport, 2014). HM has chosen vertical integration as one of its business strategies to better control the whole supply chain. From manufacturing to assembling, merchandising to retailing, all these processes are under its control. It works closely with its production offices, suppliers and buyers. While finish designing at Stockholm headquarters, its partnership suppliers will seek for the most suitable raw materials and matched them for assembling. HM places bulk order to minimise the risk of price fluctuation and enjoy a certain level of economy of scale (Goransson et al, 2007). Then, the production offices will arrange for merchandising. HM stores do not prepare any buffer stock, but are replenished from the nearest distribution centre. 90% of HM’s goods is transported from the suppliers’ warehouses to distribution centres via Hamburg, the main transit point of HM, by rail or sea (HM 2014a). Those garments are generally served with price tags and ready for sale (Hasan and Alim, 201 0). How is the brand differentiated and how is it positioned? HM identifies a sustainable competitive advantage for its brand through providing augmented products. The purpose of creating augmented products is to add value to supplementary elements, aiming to exceed customer expectation (Crassous and Gassmann, 2011). HM realises the fact that customers are not well-prepared to pay extra money for sustainable value, but it is believed to be a leading trend in the future (HM, 2014b). Hence, HM emphasizes offering the best price, not the cheapest price, certainly involving a part of sustainability. It would never compromise the commitment of providing fashionable and quality products with the best price. HM is positioning itself as an ethical company that produce fast-fashion and ethics simultaneously (Siegle, 2012). For example, HM has invested heavily in sustainability in order to remove the label of ‘disposable’ fashion manufacturer (Passport, 2014). It realises how important the natural resources to them, thus, it makes use of 13.7% of organic cotton over total cotton use. According to Textile Exchange (2014), HM is listed as the world top users of organic cotton. It also changes its linear production model to circular production model to serve conscious fashion. HM no longer focus on making short-term profit, it has stated the importance of developing long-term sustainability to be a significant differentiator (HM, 2014b). For instant, HM has collaborated many non-governmental organizations (NGOs) such as Fair Labour Association (FLA) and Fair Wages Network to develop a criteria for benchmarking sustainability to entire industry (HM, 2014b). Furthermore, the transparency of HM’s supply chain is another key differentiation from other fast fashion retailers. HM made an effort of creating supply chain transparency by publishing its supplier’s factory list. HM is one of the few fashion companies to publish its supplier factory list (Doward, 2012). Is Country of Origin (COO) significant? COO could influence on customer-based brand equity, especially in B2C markets. It has added values to the brand and the perceived quality, one of the factors of brand equity, has been recognised as a driving force in order to generate brand awareness (Chen et al, 2011). However, the strength of the link of COO across products may differ as the variation in product categories can be hard to identify (Tseng and Balabanis, 2011). For example, the credibility of French perfumes and Russia vodka are high, compared to the credibility fast fashion. The latter is more concern with the style of fashion rather than COO. Thus, the Swedish original roots may not be significant in inspiring HM collection that what target customers are expected. In comparison to Sweden, Milan, Paris and Tokyo are more likely to be defined as global fashion cities (Jansson and Power, 2010). Therefore, HM’s COO is unlikely to be significant in influencing customer purchasing decisions. Have there been issues of supply chain ethics or provenance? HM’s commitment is to be ethical through its value chain, steadily rooted in its belief. A great efforts have been paid with awarded the world most ethical company (HM, 2014b). In spite of adhere to be ethical, some unexpected issues might occur under its vertical control. However, HM tried its own best to best solving those problems. For example, a Bangladeshi factory that making clothing for HM and other companies prone to fires due to poor safety standard (Hickman, 2010). HM alleged that it only bought a small portion of garments from this factory. However, it appointed representatives to visit that place immediately to support those affected and their families. HM has regularly audited this factory and announced that this factory has attained the Code of Conduct. Following this unwanted incident, HM produced a series of short films, concerning fire safety and other ethical issues in order to enhance workers’ vigilance (Siegle, 2012). Another example was 288 Turkish workers were suffered from verbal harassment during HM’s external assessment. HM followed up this circumstance and settled down by giving proper training to their supervisors and putting less pressure on them (Fair Labour Association (FLA), 2009). Conclusion In conclusion, this report has evaluated the supply chain and logistics management strategies of HM. Vertical brand, HM achieves its best prices promise by employing in-house designers, having no middlemen, choosing its own suppliers, utilising resources in every part of business, and the most important aspect is having effective logistic management within the supply chain. The highly responsive supply chain distinct HM from its competitors, enabling HM to react quickly to the up-dated fashion trend. The selected suppliers not only responsible for manufacturing quality product, but also ensuring the processes are operated under good ethical conditions. Sustainability plays an important role in implementing HM business strategy. HM works very hard to be recognised as an ethical company. These remarkable achievements will obviously lead an increase in brand reputation and customer confidence Therefore, it is essential for HM to continuously place sustainability as its primary objective to clearly become HM’s competitive advantage. References Cha, Y (2013) ‘The Big 3: Fast Fashion (SPA) Brands and Strategies’, Maeil Business Newspaper, 9 June. Chen, Y. ,Su, Y. and Lin, F. (2011) ‘Country-of-origin effects and antecedents of industrial brand equity’, Journal of Business Research, 64, p1234-1238. Crassous, T. and Gassmann, J. (2011) ‘Gaining Competitive Advantage through Green Marketing’, Department of Marketing, 3(37), p1-72. Doward, J. (2012) ‘HM comes under pressure to act on child-labour cotton’, The Guardian, 15 December. [Online] Available at: http://www.theguardian.com/business/2012/dec/15/cotton-child-labour-uzbekistan-fashion (Accessed: 2 April 2015) Fair Labour Association (FLA) (2009) Preventing Harassment of Workers in Turkey [Online] Available at: http://www.fairlabor.org/impact/case-studies/study/preventing-harassment-workers-turkey (Accessed: 29 January 2015) Goransson, S. , Jonsson, A. and Persson, M. (2007) ‘Extreme Business-Models in the Clothing Industry-A case study of HM and ZARA’, The Department of Business Studies, p1-92. Hasan, M.R. and Alim, M.A. (2010) Factors Affecting Supply Chain Management Efficiency in Cross Border Outsourcing: A case study of HM and its Outsourcing Operations in Bangladesh, Master Degree Thesis. University of Gothenburg. HM (2010) Code of Conduct. [Online] Available at: http://sustainability.hm.com/content/dam/hm/about/documents/en/CSR/codeofconduct/Code%20of%20Conduct_en.pdf (Accessed: 5 March 2015) HM (2014a) Annual Report 2014, HM Hennes Mauritz AB, Sweden. HM (2014b) Sustainability Report 2013, HM Hennes Mauritz AB, Sweden. HM (2015) Design Process. [Online] Available at: http://about.hm.com/en/About/facts-about-hm/idea-to-store/design-process.html (Accessed: 3 March 2015) Hickman, M. (2010) ‘21 workers die in fire at HM factory’, The Independent, 2 March. [Online] Available at: http://www.independent.co.uk/life-style/fashion/news/21-workers-die-in-fire-at-hm-factory-1914292.html (14 February 2015) Jansson, J. and Power, D. (2010) ‘Fashioning a global city: Global city brand channels in the fashion and design industries’, Regional Studies, 44 (7), p889- 904. Kharas, H (2010) The Emerging Middle Class in Developing Countries. OECD Development Centre. Milne, R (2013) ‘Late spring chills HM sales’, The Financial Times, 21 March. [Online] Available at: http://www.ft.com/cms/s/0/05fd4e46-9201-11e2-a6f4-00144feabdc0.html#axzz3X7QRARt9 (Accessed: 20 March 2015) Passport (2014) ‘HM Hennes Mauritz AB in Retailing (World)’, Euro monitor International. Pezzini, M (2012) An Emerging Middle Class. OECD Development Centre. Petro, G. (2012) ‘The Future of Fashion Retailing The HM Approach’, The Forbes, 11 May. [Online] Available at: http://www.forbes.com/sites/gregpetro/2012/11/05/the-future-of-fashion-retailing-the-hm-approach-part-3-of-3/ Saini, M. (2007) Analysis of clothing supply chain: Integration Marriage of Lean Agile, PhD thesis. The University of Salford. Saminather, N (2007) ‘How HM’s copying with Retail Travails?’, Bloomberg, 3 January. [Online] Available at: http://www.bloomberg.com/bw/stories/2007-01-03/how-h-and-ms-coping-with-retail-travailsbusinessweek-business-news-stock-market-and-financial-advice Siegle, L. (2012) ‘Is HM the new home fashion?’, The Guardian, 7 April. [Online] Available at: http://www.theguardian.com/business/2012/apr/07/hennes-mauritz-h-and-m Siegle, L. (2013) ‘HM: How ethical are your clothes?’, The Guardian, 6 October. [Online] Available at: http://www.theguardian.com/environment/2013/oct/06/ethical-high-street-clothes-hm Textile Exchange (2014) ‘Organic Cotton Report’, Textile Exchange, 31 July. The Boston Consulting Group (2005) Taking Care of Brands through Vertical Integration. [Online] Available at: http://www.bcg.com.cn/export/sites/default/en/files/publications/articles_pdf/Taking_Care_Brands_Through_Vertical_Integration_Nov2005.pdf (Accessed: 20 February 2015) Tokatli, N. (2008) ‘Global Sourcing: insight from the global clothing industry – the case of Zara, a fast fashion retailer’, Journal of Economic Geography, 8, p. 21-38. Tseng, T. and Balabanis, G. (2011) ‘Explaining the product-specificity of country-of-origin effects’, International Marketing Review, 28(6), p581-600. Zhou, K.Z. and Xu, D. (2012), ‘How Foreign Firms Curtail Local Supplier Opportunism in China: Detailed Contracts, Centralized Control, and Relational Governance’, Journal of International Business Studies, 43 (7), p677-692.

Changing Use Of Language :: essays research papers

I chose to find the entomology of a word that most people can usually not go through a day without using at least once, computer. With the explosion of the personal computer in the last ten years, most households in America own at least one. However, the meaning of the word "computer" has changed in the last century. The word itself is found in text as far back as 1646 when Sir T. Brown said, "The calendars of these computers." The use of "computer" in this sense, as defined by the OED, is one who computes; a calculator, reckoner; a person employed to make calculations in an observatory, in surveying, etc.Then, around 1897, the use of "computer" began to change. In the January 22 edition of Engineering, this usage appeared: "This was... a computer made by Mr. W. Cox. He described it as of the nature of a circular slide rule." This usage began the change of the definition. In the supplement to the OED, "computer" is now defined as a calculating machine; an automatic electronic device for performing mathematical or logical operation.The word "computer" stems from the verb "compute" which came from the French comput-r and the Latin computa-re. It was formed by adding com - together and putare - to clear up, settle, reckon. Together, "compute" means to estimate or determine by arithmetical or mathematical reckoning; to calculate, reckon, count. Then from the word "compute", the suffix "er" was added giving us the definitions we have for computer today.2) In an effort to further understand language, the field of psycholinguistics formed to study the psychological side of language. Language has many different functions such as communication, expressing emotion, explaining ideas, to create relationships, and recording ideas. Without the use of language, it would be nearly impossible to explain the history of anything. Language allows for the communication that is necessary for survival. It is not only humans who benefit from language either. Bees use a complex system of a dance and buzz to show the hive where to find food, and birds use different chirps to communicate.One psycholinguistic, Hockett, said that all languages have some aspects that are the same at some level which he called Linguistic Universals. One aspect of Linguistic Universals is the broadcast transmission, which says that language is public and that anyone around the message will pick it up. Another aspect of language is that it is rapid fading, or if you don't get it right away, you won't get it at all.

The Lemurs of Kirindy

Peter Kappeler’s article entitled, â€Å"The Lemurs of Kirindy,† brought into focus the different behaviors adapted by and that has evolved among the mammals in the Kirindy Forest in the west-central coast of Madagascar.   Of particular interest in the article were the lemurs of Kirindy, which Kappeler described to have evolved and changed their behaviors in order to adapt to the changing seasons and climates of the forest. This paper looks into the process of natural selection among the mammals of Kirindy.   The discussion and analysis provided herein posits that natural selection favored the most unusual primate behaviors among lemurs.   More specifically, the position assumed in this discussion asserts that because of the constantly changing physical/natural environment of the forest, lemurs have adapted and underwent the process of evolving biologically, as their response to the natural changes occurring in their physical environment—completing the process of natural selection. The â€Å"pronounced seasonal changes† in the Kirindy forest was described as a combination of either very hot or cold climates, erratically changing each season.   On December to February, the forest does not experience rain, wherein nights reach above freezing point.   In addition to these drastic changes in temperature, primate behaviors also vary during long dry spells or months of continuous rains.   Behaviors of lemurs affected not only include hibernation periods, circadian rhythms, or food hunting patterns, but also reproduction cycles and mating behavior.   Ultimately, the erratic changes in climate in Kirindy influence the survival techniques of lemurs. Indeed, these seasonal changes have affected the circadian rhythms, mating behaviors, and food hunting techniques of the lemurs of Kirindy.   Sifakas are known to adapt a â€Å"calorie-saving† behavior by â€Å"expending less energy† through a decrease in their physical activities and expose themselves to heat as much as possible.   Moreover, sifakas eat plants that have high liquid content, further supporting its survival techniques in order to survive the cold season.   Sifakas’ mating behaviors, meanwhile, have also been inadvertently affected by the seasonal changes in the forest.   Female sifakas give birth during the cold season, and learn to support their young by hunting for plants or leaves with high liquid content and adapting a calorie-saving lifestyle. Fat-tailed lemurs, meanwhile, have also learned to adapt to new behavior in order to survive the cold season in the forest.   The rainy season is a time when fat-tailed lemurs store fat as their food supply for their hibernation period.   They do this by eating high-energy fruits and insects, converting these foods into fat, which is then stored in their tails.   After the rainy season, fat-tailed lemurs get ready for the dry season by hibernating in hollow trees. The sifakas and fat-tailed lemurs are just examples of mammals that have learned to adapt to the environment’s drastic changes, particularly in the Kirindy forest of Madagascar.   Variations and changes in lemur behavior demonstrated that the process of natural selection took place in the forest, wherein the uncontrollable physical conditions that the lemurs lived in led to an alteration of their lifestyles, and ultimately, biological tendencies and reactions to the environment (i.e., Kirindy forest).

The Struggles of America †History Essay

The Struggles of America – History Essay Free Online Research Papers The Struggles of America History Essay Since 1865, America has experience a tremendous amount of changes. Some changes were in America’s best interest and benefited the country, while other changes were just the opposite and only had in mind those who had the ability to pass or veto that particular change. Some changes affected us in unforeseen ways and left no trace. Being born an African American, I found great interest in the â€Å"Civil Rights Movement†, the â€Å"Industrial Revolution†, and â€Å"Women Suffrage†. The Civil Rights Movement, in my opinion, was the most significant event in the history of America. It influences the thoughts of many Americans today. The primary reasons for the Civil Rights Movement were to protect, liberate and ensure that all Americans were treated equally. It did not only apply to African Americans as many people assume; it includes the rights of every American that lives inside and outside of the United States. Without our Civil Rights Movement many Americans would face great hardships, and would be constantly taken advantage of by large corporations, people of power, and anyone else in a position of authority. Whenever the phrase Civil Rights Movement is mentioned, one automatically assumes it is referring to African Americans or minorities; however, it refers to every American, to include legal immigrants. The actions performed during the Civil Rights Movement formed a solid foundation many years ago that granted us privileges that we were not initially gra nted. According to Wikipedia Encyclopedia, â€Å"Civil Rights† are the protection and privileges of personal liberty given to all citizens by law. Civil Rights are distinguished from â€Å"human rights† or â€Å"natural rights†; civil rights are rights that persons do have, while natural or human rights are rights that scholars think that people should have. Civil Rights Movement was proposed to the congress on January 31, 1865. Almost a year later it was ratified on December 6, 1865. Although ratified and recognized by Congress, many states did not adhere to the new legislation for decades to follow. Even though it was law, it was not enforced by the states or federal government until years later. According to Wikipedia Encyclopedia, Laws guaranteeing civil rights may be written, derived from custom, or implied. In the United States and most continental European countries, civil rights laws are most often written. [Wikipedia Encyclopedia] Many Americans voluntarily took a great deal of interest Civil Rights Movement and strongly pushed the movement in southern states. States that played a significant role during this era was Alabama, Tennessee, Mississippi, and Georgia. These courageous individuals were later known as Civil Rights Leaders. Throughout the union there were many Civil Rights leaders of all nationalities, William Edward Burghardt, Medgar Evers, W.E.B. DuBois, and the well known, Dr. Martin Luther King were among the most influential. W.E.B. DuBois was one of the most influential leaders during the beginning of the Civil Rights Movement. With his great intellect and great deal of knowledge, he quickly became a well known figure among African Americans and in the political arena. W.E.B. Dubois focused a lot of attention on segregation and politics, and tried to unite African Americans with a common goal. In 1909, W.E.B. Dubois helped founded the National Association for the Advancement of Colored People (NAACP), and was the only African American to be a part of the organization at that time. Medgar Evers another civil right activist was born in Decatur, Mississippi. Evers not only served African Americans, in 1943 he was drafted into the United States Army and he proudly served his country. He attended Alcorn State University, where he majored in Business Administration. He participated in several different athletic programs and also became the president of his junior class. Evers was employed by an insurance agency so that he could provide financial income for is family, however after a few years, he resigned, Evers decided to apply to the University of Mississippi, but due to the color of his skin, his application was rejected. After a series of unfortunate events, Evers decided to join forces with the NAACP and became a field officer. DuBois and Evers are just a few leaders that believed in implementing Civil Rights Movement. Civil Rights activists eventually began to make a progress and were starting to receive what they always wanted. In 1866 thru 1869, the 14th and 15th amendment was passed in various states, giving African America men the right to vote, however it did not include women. The Civil Rights wasn’t the only political battle America was faced with. During the same time, America faced the challenge of Woman Suffrage. Women from all over country were beginning to create havoc concerning what they believed was rightfully theirs as American citizens. In 1869 the National Woman Suffrage Association was formed. After merging with the American Woman Suffrage Association, it was renamed National American Woman Suffrage Association. By the late 1800s, nearly fifty years of progress afforded women advancement in property rights, employment and educational opportunities, divorce and child custody laws, and increased social freedoms. The early 1900s saw a successful push for the right to vote through a coalition of suffragists, temperance groups, reform-minded politicians, and womens social welfare organizations [www.Rochester.edu]. Even after the battles of the Civil Rights Movement, women still had to take the back seat and fight for what was rightfully the irs. It wasn’t until the mid 1900s that one could truly identify the results of what the National American Women Suffrage Association had fought for so vigorously almost a decade prior. Elizabeth Cady Stanton headed much of the movement concerning women rights. She spent countless days working with her father and learning the laws, both locally and nationally. Doing all she knew and excelling well above and beyond of her brothers in daily chores, expectations, and in studies, she was still viewed as only another â€Å"lesser† when compared to men. Stanton believed that all men and women were created equal and should be treated as such. Faced with many struggles, and often ousted, Stanton continued to fight for liberties that were owed to women. Being very intellectual, Stanton spent the much of her time putting her thoughts on paper. She often wrote on topics such as divorce, birth control, and the rights that women should have. She was also the mother of seven children. She also had a great deal of help from Susan B. Anthony. Susan B. Anthony and Stanton met in Seneca Falls, what could be viewed as the headquarters of many women historical events. It was there that a lifelong friendship between the two â€Å"alike† began. They shared many of the same views, even though there approach was a slightly different. Susan B. Anthony was not afraid confrontation, she was often known for her to say what she thought. On the other hand, Stanton was more of a thinker and could express herself better on paper or through her actions. Once they merged they were almost unstoppable. Together, with the help of other colleagues, they continued to eliminate women suffering. Both Stanton and Anthony strongly believed that women should and deserved the right to vote and should exercise that right. They traveled all over the United States expressing their beliefs and attempting to gain the support of men. However it was difficult for a woman to be taking serious because of popular beliefs and traditional doctrine. Most men, and even some women, believed that a woman’s place was to be subordinate to her husband or men in general. For these reason they had no say in politics and he would represent them as the head of the house. In the 1800’s until the late twentieth century, society always considered that a women place in the family structure was home with her children. For that reason, politicians, businessmen, and other wealthy men did not believe that a woman input should be taken serious and should not be publicly voiced. Because she was always considered to be a subordinate to her husband, he would think and speak for her. Even though it took many long nights and decades of hard work, embarrassment, and ridicule, the Woman’s Suffrage movement slowly began to make process and put an end to inequality, well in some instances. Minuet in many ways, women were starting to be more than just a mother or wife, they were beginning to speak for themselves. New Zealand became the first country to allow woman to cast a vote in national elections. In 1870 the Fourteenth Amendment was ratified; allowing African American males the right to vote. However several females attempted to use this amendment to their advantage. Susan B. Anthony was later arrested for attempting to cast a vote for Ulysses S. Grant. Shortly thereafter, between 1918 and 1920, the United States granted woman the right to vote. It wasn’t until the 1920s that the Nineteenth Amendment was proposed and ratified; granting voting rights, regardless of sex, nationality, or religion. According research done through Austin Community College, more women entered the workforce as the new century dawned. Married women entered in larger numbers because the number of children they were having declined by 50%. These married women worked to gain new consumer goods, like sewing machines and washing machines, which they hoped would make their lives easier [Austin Community College]. Although Susan B. Anthony and Elizabeth Cady Stanton devoted 50 years to the Womans Suffrage movement, neither lived to see women gain the right to vote. But their work and that of many other suffragists contributed to the ultimate passage of the 19th amendment in 1920 [www.Rochester.edu]. During these two movements America, within itself, was faced with another challenge. This time it affected everyone, from Caucasians, African Americans, Hispanics, and immigrants. During the turn of the eighteenth century America was faced with Industrial Revolution. The Industrial Revolution took America buy storm. It brought forth many benefits, yet caused created so many losses. The introduction of the Industrial Revolution cause a significant change in what used to be America and what is America today! Industrial realized that business would be more effective and have lower cost if items were produced more quickly by machine. To do so, this replaced many hand tools with machinery; allowing factories to cut back their work force. As the expected, the machinery produced item faster then when they were hand made. Those employees that remained in the factories were made more effective by the machine, and the reduction in employers lowered the manufacturer’s cost. This caused m any hardships for the working class of America and this was only the beginning of what America had yet to endure. Over the next decade many families would lose their jobs, causing a great deal of financial hardship that had spread to the middle and upper class families as well. Lower costs caused prices to drop, and family businessmen could not afford to compete with larger stores and chains and still expect to gain a decent profit. They were eventually bought out by their competitors or forced to close what once was considered to be a family-ran business. Larger corporations took over quickly and did not care about the individual. These stores would grow like mushrooms over the next decade. Pollution increased dramatically and small family communities became parking lots or highways. Business which used to be a social place to congregate with family and friends and be personally greeted were now turned into a lobby with long lines and a sign displaying a number, signifying who was next to be helped. Most factories not only benefited off the machinery, they also made a huge saving on hiring immigrants. Because wages was so low, most Americans refused to work and chose to be unemployed. Before the revolution, over ninety percent of America owned their own business, by the late 1900s it was the total opposite. What was once 95% owners, were now 95% workers. By the earlier 1900s immigrants began to flourish like wild weeds. Most immigrants had no intentions on staying in America permanently, their goals was to make enough money to provide for their families. Once they felt they had made their quota they would return home. However, a great deal of immigrants began to like America and decided it would be best for them, as well as their families, just to remain in the United States. Because the immigrations laws were not as strictly enforced as they as today, many immigrants reside in the United States for quite some time. Many immigrants negotiated with businessmen to avoid deportation and other immigration laws. Businessmen knew they could pay immigrants a fraction of what they would have to pay American citizens. As immigrants had no legal status and could not insist on a minimum wage. Often businessmen would accept the negotiation because it also benefited him as well as his business. Over the years society would refer to this type of w ork â€Å"cheap Labor†. Another innovation of the Industrial Revolution was the assembly line. Henry Ford was one of the first ones to successfully incorporate an assembly line. After building cars individually, Ford decided that it would be more profitable to mass produce them. He received much ridicule for his seemly strange idea, however, he continued on his quest to manufacture. It wasn’t until 1913 that Ford put into operation the first moving assembly line. His idea, once considered impossible, was now sky-rocketing. It was proven and copied by other industrialist. He sold over a million cars and at an affordable price. Because of his machinery, he was able to cut employees hours significantly. Ford ideas have forever changed the auto industry. Today America continues to revolutionize. Over the last five years, most groceries store has replaced cashiers with electronic scanners. Many companies have replaced personal phone tellers with automated phone service. Even though these changes are some times beneficiary, we continue to move to an impersonal society. Since 1865 America has endured many changes. Due to our advance technology, the country sometimes seems to grow a lot faster than we humans do. So many significant events have affected us. Regardless of how it may have affected us personally, most Americans can all agree it not only made us much wiser, but it strengthened us as a country. The Civil Rights Movement played such a significant part in the lives of many Americans; I believe had we not had men and women of courage, many of us would be faced with unfair treatment to this very day. It would be foolish to assume that if our rights were not demanded and fought for, one day politicians would surprisingly feel guilty and granted them to us. The Civil Rights Movement sparked many flames; I believe it also helped ignite the Women Suffrage Movement. While the woman’s equality movement continues, it has achieved the 19th amendment and has lent creditability to women’s political views and opinions. We are still undergoi ng revolution, however I feel it is for the best. We purchase fast computers, fast cars, yet we still aren’t content, we live in a microwave society and no one seem to be extremely patient. In my closing I believe that the three events that I discussed are somewhat linked to the next. Being currently deployed to Mosul, Iraq, I have physically seen some things that are discussed in my history book. I am very grateful for the changes America has endured and I appreciate those that made it happen. Research Papers on The Struggles of America - History Essay19 Century Society: A Deeply Divided EraQuebec and CanadaThe Effects of Illegal ImmigrationDefinition of Export QuotasTwilight of the UAWAssess the importance of Nationalism 1815-1850 EuropeHip-Hop is ArtBringing Democracy to AfricaComparison: Letter from Birmingham and CritoRelationship between Media Coverage and Social and

Free Essays on Pollution Act

The Pollution Prevention Act of 1990: A Policy Who’s Time Has Come This article talks about the Prevention Pollution Act of the 1990’s. This particular act signifies an effort to reduce pollution and is an important part of American history. This was an earlier focus on the need to reduce or repair environmental damage by controlling pollutants at the point where they are released to the environment. Pollution was targeted over waterways, public highways, and over private property. Past provisions have not failed just needed to be updated for cleaner air, which is vital for the human body along with our surroundings. The law was enacted as Title VI of the Omnibus Budget Reconciliation Act of 1990, P.L. 101-508, and is codified as 42 USC 13101-13109. The Environmental Protection Agency created a new office to advertise and invent an approach to cleaner air. This office is to bring new policies in front of congress to eliminate the sources of pollution. Auditing and promoting research is part of the process and enables the Environmental Protect ion Agency more authority to fight pollution. Also environmental public records are easier to access for the general public to be informed. Under the Emergency Planning and Community Right-to-Know Act of 1986 required owners and operators of many industrial facilities to report annually on their releases of toxic chemicals to the environment. The Pollution Prevention Act requires these reports to include information about the facility's efforts in source reduction and recycling. The major sections of The Prevention Act include Findings and Policy, definitions, EPA activities, grants to states for technical assistance, source reduction clearing house, source reduction and recycling data, EPA report, saving provisions, and authority of appropriations. This was an innovative procedure our federal government took to supply the Environmental Protection Agency with more authority and tools to util... Free Essays on Pollution Act Free Essays on Pollution Act The Pollution Prevention Act of 1990: A Policy Who’s Time Has Come This article talks about the Prevention Pollution Act of the 1990’s. This particular act signifies an effort to reduce pollution and is an important part of American history. This was an earlier focus on the need to reduce or repair environmental damage by controlling pollutants at the point where they are released to the environment. Pollution was targeted over waterways, public highways, and over private property. Past provisions have not failed just needed to be updated for cleaner air, which is vital for the human body along with our surroundings. The law was enacted as Title VI of the Omnibus Budget Reconciliation Act of 1990, P.L. 101-508, and is codified as 42 USC 13101-13109. The Environmental Protection Agency created a new office to advertise and invent an approach to cleaner air. This office is to bring new policies in front of congress to eliminate the sources of pollution. Auditing and promoting research is part of the process and enables the Environmental Protect ion Agency more authority to fight pollution. Also environmental public records are easier to access for the general public to be informed. Under the Emergency Planning and Community Right-to-Know Act of 1986 required owners and operators of many industrial facilities to report annually on their releases of toxic chemicals to the environment. The Pollution Prevention Act requires these reports to include information about the facility's efforts in source reduction and recycling. The major sections of The Prevention Act include Findings and Policy, definitions, EPA activities, grants to states for technical assistance, source reduction clearing house, source reduction and recycling data, EPA report, saving provisions, and authority of appropriations. This was an innovative procedure our federal government took to supply the Environmental Protection Agency with more authority and tools to util...

Merchants PLC Essay Example | Topics and Well Written Essays - 3000 words

Merchants PLC - Essay Example The capacity of raising funds depends on the resources from which funds might be accessible. The company forms of partnership and sole proprietor have limited chances for raising funds. Banks will generally only desire to finance businesses where there is a revenue stream or short risk assets i.e., assets which can safeguard loans. The company can raise money by several ways by increasing short- term and long-term capital; they can also include -issue of shares and debentures, loans from financial institutions, loans from banks, public deposits. â€Å"Capital may also be raised by development taxes levied on either developers or households, or both. For example, a value-capture tax may be levied on the estimated increase in land value due to the development of related infrastructure.† http://www.appliedeconomics.com.au/pubs/papers/pa03_trans.htm The main benefits of the sources of finance for the company includes decreasing the reliance on outside sources of finance; it raises the credit value of the company, allowing the company to withstand complicated circumstances and allowing the company to accept a constant dividend policy. â€Å"Merchants has for many years focused on a simple proposition, to deliver a high and rising income stream, together with long term capital growth through investing predominantly in large UK companies.† http://www.alliancetrustsavings.co.uk/resource/taking-stock/june2012/merchants-trust-plc.htm

Pornography Research Paper Example | Topics and Well Written Essays - 2000 words

Pornography - Research Paper Example According to the research paper "Pornography" findings, it is important to understand that various groups in the community have considered pornography as an example of a substance that promotes sexual immorality. On this basis, there have been attempts to censor the production of pornographic materials, as well as providing legal restraints against their production, as well as publication. However, Johansson and Nils (60) explains that due to the different definitions of pornography, based on the national, historical, as well as cultural contexts, this aspect of pornography has thrived. Furthermore, in the 20th century, there was the development of social attitudes that are more tolerant to presentation and discussions of sex and its related factors. This increased the development of pornography, mainly because many countries started relaxing laws regarding the production and publication of pornographic materials. Furthermore, Johansson and Nils (61) explains that the development of the internet and the home video made it possible for a boom in the global pornographic industry, and this helps in generating billions of dollars in a year. McKee (36) denotes that in the mentioned movie, the female character has been used as a depiction of pornography. In this movie, Bettie, a female character is used to pose for nude pictures, and photographs, for pornographic magazines, and studios. McKee (38) explains that in most pornographic materials, women are always depicted as sex symbols and objects. This results in the destruction of the virtues of the women under consideration. This is clearly depicted in the movie, whereby Bettie Page is unable to find friends, because of a bad name.